North Point Sells Out of $7.5 Million Gentex Position in Q1

What happened

According to its SEC filing on April 24, 2026, North Point Portfolio Managers Corp. fully exited its position in Gentex (NASDAQ:GNTX), selling 324,273 shares. The estimated transaction value was $7.52 million, calculated using the average quarterly closing price. The net change in the quarter-end value of the stake was a decrease of $7.55 million, reflecting both trading activity and price movements.

What else to know

North Point Portfolio Managers sold out of Gentex; post-trade position now represents 0% of 13F AUM.

• Top holdings after the filing:
  • Amphenol: $28.56 million (5.1% of AUM)
  • ASML: $25.66 million (4.6% of AUM)
  • Costco: $25.35 million (4.5% of AUM)
  • Alphabet: $22.84 million (4.1% of AUM)
  • Visa $21.37 million (3.8% of AUM)

As of April 23, 2026, Gentex shares were priced at $23.03, up 6.3% over the past year, underperforming the S&P 500 by 26 percentage points.

Company overview

Company snapshot

Gentex:

• Offers automotive electrochromic mirrors, dimmable glass, digital vision systems, and fire protection products, with primary revenue from automotive OEMs and suppliers.
• Operates a manufacturing-based model, generating income through the design, production, and direct sale of high-value electronic and glass components for vehicles and buildings.
• has main customers including global automotive manufacturers, aircraft producers, and commercial building system integrators.

Gentex is a leading supplier of advanced automotive and fire protection products, leveraging proprietary technology in electrochromic glass and digital vision systems. With a diversified product suite and a global footprint, the company maintains strong relationships with major automotive OEMs and commercial partners. Gentex's focus on innovation and integration into essential vehicle and building systems supports its competitive positioning and consistent financial performance.

What this transaction means for investors

North Point Portfolio Managers’ sale of Gentex catches my eye for a number of reasons. First, the firm has held its Gentex position since 2010 and has numerous holdings that are decades old. They like to think over the very long term. I’d argue that this fact alone makes Gentex’s liquidation noteworthy, as it is a somewhat rare move for them. However, we don’t know the firm’s reasoning, so shareholders shouldn’t overreact.

Second, the sale was a full liquidation. Gentex went from a 1.3% position in the portfolio to gone, so this wasn’t a gradual unwinding. While it had been selling a few thousand shares each quarter over the last few years as Gentex stock declined from $35 to $25, its final 324,273-share sale was massive in comparison.

Lastly, Gentex just reported earnings this morning, and they looked excellent. GNTX shares are up 6% after sales rose 17% in Q1 and the company guided for 11% revenue growth in 2026. While most of this growth is tied to its recent acquisition of VOXX, it nonetheless suggests the two companies are finally integrating better.

While North Point’s sale could stem from the VOXX acquisition risk, longer-term threats to mirrors being replaced in new high-tech cars, or simply a lack of sales growth over the last decade, Gentex trades near a decade-long low valuation. Trading at just 12 times forward earnings, with a 2% dividend yield, no debt, and a history of buying back 3% of its shares outstanding annually over the last decade, Gentex looks like a discounted steady-Eddie stock for contrarian investors to consider, but it likely won’t be a 10-bagger anytime soon.

Josh Kohn-Lindquist has positions in ASML, Alphabet, Costco Wholesale, and Visa. The Motley Fool has positions in and recommends ASML, Alphabet, Amphenol, Costco Wholesale, and Visa. The Motley Fool recommends Gentex. The Motley Fool has a disclosure policy.