Gentex (GNTX)


Market Price (9/25/2026): $22.045 | Market Cap: $4.6 BilSector: Consumer Discretionary | Industry: Automotive Parts & Equipment

Gentex (GNTX)


Market Price (9/25/2026): $22.045
Market Cap: $4.6 Bil
Sector: Consumer Discretionary
Industry: Automotive Parts & Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 2.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.1%, FCF Yield is 11%

Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 20%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%

Low stock price volatility
Vol 12M is 26%

Megatrend and thematic drivers
Megatrends include Autonomous Technologies, Electric Vehicles & Autonomous Driving, and Advanced Materials. Themes include Machine Vision, Show more.

Weak multi-year price returns
2Y Excs Rtn is -58%, 3Y Excs Rtn is -101%

Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -1.0%

Key risks
GNTX key risks include [1] an overwhelming revenue dependence (98%) on the cyclical automotive sector with exposure to slower-growth customers and [2] a heavy reliance on its patent portfolio, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 2.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.1%, FCF Yield is 11%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 20%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%
3 Low stock price volatility
Vol 12M is 26%
4 Megatrend and thematic drivers
Megatrends include Autonomous Technologies, Electric Vehicles & Autonomous Driving, and Advanced Materials. Themes include Machine Vision, Show more.
5 Weak multi-year price returns
2Y Excs Rtn is -58%, 3Y Excs Rtn is -101%
6 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -1.0%
7 Key risks
GNTX key risks include [1] an overwhelming revenue dependence (98%) on the cyclical automotive sector with exposure to slower-growth customers and [2] a heavy reliance on its patent portfolio, Show more.

GNTX in ETFs

Weight = GNTX's share of each fund

VTI0.01%
ITOT0.01%
IWB0.01%
IJH0.14%
VYM0.02%
VB0.06%
AVUV0.54%
MDYV0.17%
+21 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 9/1/2026

Gentex (GNTX) stock has lost about 10% since 5/31/2026 because of the following key factors:

1. Fiscal Q2 2026 Revenue Miss and Decline in Automotive Segment Sales.

Gentex (GNTX) reported fiscal Q2 2026 net sales of $651.3 million, which represented a 1% year-over-year decrease and missed analyst consensus estimates of $669.65 million. Specifically, automotive revenue declined by approximately 3% in fiscal Q2 2026, driven by lower sales in Europe, Japan/Korea, and China. Furthermore, management noted that total auto-dimming mirror unit shipments and revenues were approximately 3% and 5% below their internal beginning-of-quarter forecasts, respectively.

2. Decelerating Core Product Volume Amidst International Weakness.

Despite reporting higher GAAP net income (up 19%) and adjusted diluted earnings per share (up 16% year-over-year to $0.58, beating estimates) for fiscal Q2 2026, investor concerns were likely amplified by the significant decline in core product volume. Total auto-dimming mirror unit shipments fell by 10% during fiscal Q2 2026, with international interior mirror shipments experiencing a more substantial 26% drop. This indicated a challenge in the demand for Gentex's primary product, particularly in key international markets, which overshadowed the benefits of improved gross margins and growth in other product categories like Premium Audio (up 16% in fiscal Q2 2026).

Show more
Updated on 9/1/2026

Gentex (GNTX) stock has lost about 10% since 5/31/2026 because of the following key factors:

1. Fiscal Q2 2026 Revenue Miss and Decline in Automotive Segment Sales.

Gentex (GNTX) reported fiscal Q2 2026 net sales of $651.3 million, which represented a 1% year-over-year decrease and missed analyst consensus estimates of $669.65 million. Specifically, automotive revenue declined by approximately 3% in fiscal Q2 2026, driven by lower sales in Europe, Japan/Korea, and China. Furthermore, management noted that total auto-dimming mirror unit shipments and revenues were approximately 3% and 5% below their internal beginning-of-quarter forecasts, respectively.

2. Decelerating Core Product Volume Amidst International Weakness.

Despite reporting higher GAAP net income (up 19%) and adjusted diluted earnings per share (up 16% year-over-year to $0.58, beating estimates) for fiscal Q2 2026, investor concerns were likely amplified by the significant decline in core product volume. Total auto-dimming mirror unit shipments fell by 10% during fiscal Q2 2026, with international interior mirror shipments experiencing a more substantial 26% drop. This indicated a challenge in the demand for Gentex's primary product, particularly in key international markets, which overshadowed the benefits of improved gross margins and growth in other product categories like Premium Audio (up 16% in fiscal Q2 2026).

3. Persistent Weakness and Affordability Pressures in the Global Automotive Market.

The company's challenges occurred within a broader context of a softening global automotive market. Global light vehicle sales were down more than 4% year-to-date through May 2026. Similarly, the US light vehicle market contracted by approximately 3% in the first half of 2026. Record-high new vehicle prices, which exceeded $52,000 in fiscal Q2 2026, coupled with increased fuel costs, led consumers to prioritize affordability and fuel efficiency, impacting overall vehicle demand and production, thereby creating macroeconomic headwinds for Gentex's automotive component business.

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Stock Movement Drivers

Fundamental Drivers

The -8.3% change in GNTX stock from 5/31/2026 to 9/24/2026 was primarily driven by a -13.7% change in the company's P/E Multiple.
(LTM values as of)53120269242026Change
Stock Price ($)24.0422.04-8.3%
Change Contribution By: 
Total Revenues ($ Mil)2,6332,626-0.2%
Net Income Margin (%)14.8%15.5%5.1%
P/E Multiple13.111.3-13.7%
Shares Outstanding (Mil)2112091.4%
Cumulative Contribution-8.3%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/24/2026
ReturnCorrelation
GNTX-8.3% 
Market (SPY)1.7%35.9%
Sector (XLY)-8.5%32.8%

Fundamental Drivers

The -4.8% change in GNTX stock from 2/28/2026 to 9/24/2026 was primarily driven by a -12.0% change in the company's P/E Multiple.
(LTM values as of)22820269242026Change
Stock Price ($)23.1522.04-4.8%
Change Contribution By: 
Total Revenues ($ Mil)2,5342,6263.6%
Net Income Margin (%)15.2%15.5%2.1%
P/E Multiple12.811.3-12.0%
Shares Outstanding (Mil)2132092.3%
Cumulative Contribution-4.8%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/24/2026
ReturnCorrelation
GNTX-4.8% 
Market (SPY)12.4%46.0%
Sector (XLY)-5.2%42.1%

Fundamental Drivers

The -19.7% change in GNTX stock from 8/31/2025 to 9/24/2026 was primarily driven by a -24.9% change in the company's P/E Multiple.
(LTM values as of)83120259242026Change
Stock Price ($)27.4522.04-19.7%
Change Contribution By: 
Total Revenues ($ Mil)2,3852,62610.1%
Net Income Margin (%)16.8%15.5%-7.9%
P/E Multiple15.011.3-24.9%
Shares Outstanding (Mil)2202095.3%
Cumulative Contribution-19.7%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/24/2026
ReturnCorrelation
GNTX-19.7% 
Market (SPY)20.3%35.1%
Sector (XLY)-4.1%40.7%

Fundamental Drivers

The -28.8% change in GNTX stock from 8/31/2023 to 9/24/2026 was primarily driven by a -42.0% change in the company's P/E Multiple.
(LTM values as of)83120239242026Change
Stock Price ($)30.9422.04-28.8%
Change Contribution By: 
Total Revenues ($ Mil)2,1222,62623.8%
Net Income Margin (%)17.2%15.5%-10.0%
P/E Multiple19.511.3-42.0%
Shares Outstanding (Mil)23020910.3%
Cumulative Contribution-28.8%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2023 to 9/24/2026
ReturnCorrelation
GNTX-28.8% 
Market (SPY)76.8%39.7%
Sector (XLY)32.4%43.8%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
GNTX Return4%-20%22%-11%-17%-3%-28%
Peers Return12%-22%13%-26%24%-2%-11%
S&P 500 Return27%-19%24%23%16%13%105%

Monthly Win Rates [3]
GNTX Win Rate58%42%42%50%42%44% 
Peers Win Rate53%33%48%33%60%42% 
S&P 500 Win Rate75%42%67%75%67%56% 

Max Drawdowns [4]
GNTX Max Drawdown-17%-33%-17%-23%-27%-17% 
Peers Max Drawdown-26%-41%-28%-35%-26%-28% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: MGA, LEA, VC, APTV, ALV. See GNTX Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/24/2026 (YTD)

How Low Can It Go

EventGNTXS&P 500
2025 US Tariff Shock
  % Loss-14.7%-18.8%
  % Gain to Breakeven17.2%23.1%
  Time to Breakeven108 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-31.7%-24.5%
  % Gain to Breakeven46.5%32.4%
  Time to Breakeven489 days427 days
2020 COVID-19 Crash
  % Loss-35.2%-33.7%
  % Gain to Breakeven54.4%50.9%
  Time to Breakeven231 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-11.2%-19.2%
  % Gain to Breakeven12.6%23.8%
  Time to Breakeven5 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-16.3%-12.2%
  % Gain to Breakeven19.5%13.9%
  Time to Breakeven71 days62 days
2014-2016 Oil Price Collapse
  % Loss-10.4%-6.8%
  % Gain to Breakeven11.6%7.3%
  Time to Breakeven21 days15 days

Compare to MGA, LEA, VC, APTV, ALV

In The Past

Gentex's stock fell -14.7% during the 2025 US Tariff Shock. Such a loss loss requires a 17.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventGNTXS&P 500
2022 Inflation Shock & Fed Tightening
  % Loss-31.7%-24.5%
  % Gain to Breakeven46.5%32.4%
  Time to Breakeven489 days427 days
2020 COVID-19 Crash
  % Loss-35.2%-33.7%
  % Gain to Breakeven54.4%50.9%
  Time to Breakeven231 days140 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-28.6%-17.9%
  % Gain to Breakeven40.1%21.8%
  Time to Breakeven80 days123 days
2008-2009 Global Financial Crisis
  % Loss-62.6%-53.4%
  % Gain to Breakeven167.7%114.4%
  Time to Breakeven354 days1085 days

Compare to MGA, LEA, VC, APTV, ALV

In The Past

Gentex's stock fell -14.7% during the 2025 US Tariff Shock. Such a loss loss requires a 17.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Gentex (GNTX)

Gentex Corporation (GNTX) is a technology company specializing in digital vision, connected car solutions, and dimmable glass technologies. Its core business centers around the automotive industry, where it is a leading provider of interior and exterior electrochromic automatic-dimming rearview mirrors. These innovative mirrors automatically adjust their tint to combat glare, enhancing driver safety. Gentex also supplies various automotive electronics and non-dimming mirrors to global automotive original equipment manufacturers (OEMs), suppliers, and aftermarket customers for a wide range of vehicles, including passenger cars, light trucks, and SUVs.

Beyond automotive, Gentex operates in two other significant markets. The company provides variable dimmable windows, commonly found in aircraft, to both aircraft manufacturers and airline operators. Furthermore, Gentex is a key manufacturer of fire protection products, offering a comprehensive suite that includes photoelectric smoke detectors, carbon monoxide alarms, and various audible and visual signaling devices. These essential safety products are sold to fire protection and security product distributors, electrical wholesale houses, and OEMs of fire protection systems for installation in commercial and residential buildings worldwide.

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A focused Honeywell, specializing in advanced visual technology (like auto-dimming mirrors for cars and planes) and building safety products (such as fire and CO alarms).

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  • Automatic-Dimming Rearview Mirrors: Interior and exterior electrochromic mirrors that automatically dim to reduce glare for drivers.
  • Automotive Electronics: Various electronic products designed for integration into passenger cars, light trucks, and vans.
  • Non-Automatic-Dimming Rearview Mirrors: Standard rearview mirrors for automotive passenger vehicles.
  • Dimmable Aircraft Windows: Variable dimmable windows supplied to aircraft manufacturers and airline operators.
  • Fire Protection Alarms and Detectors: Photoelectric smoke detectors, carbon monoxide alarms, and audible/visual signaling alarms for commercial and residential buildings.
  • Nanofiber Chemical Sensing Products: Products resulting from ongoing research and development in nanofiber chemical sensing technology.

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Major Customers of Gentex (GNTX)

Gentex Corporation primarily sells its products to other companies. Based on the provided background description, specific names of major customer companies are not listed. However, its major customers fall into the following categories:

  • Automotive Original Equipment Manufacturers (OEMs) and Automotive Suppliers: These customers integrate Gentex's interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors into various automotive vehicles, including passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans.
  • Aircraft Manufacturers and Airline Operators: These customers purchase Gentex's variable dimmable windows for use in aircraft.
  • Fire Protection and Security Product Distributors, Electrical Wholesale Houses, and Original Equipment Manufacturers of Fire Protection Systems: These customers distribute or integrate Gentex's photoelectric smoke detectors, carbon monoxide alarms, and other fire protection signaling alarms into fire detection systems for commercial and residential buildings.

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Steve Downing, President and Chief Executive Officer

Steve Downing was promoted to Chief Executive Officer on January 1, 2018. He joined Gentex in 2002 as a financial analyst and progressed through various roles, including senior financial analyst, Director of Commercial Management, and Vice President of Commercial Management. In May 2013, he was promoted to Chief Financial Officer and Vice President of Finance, and in June 2015, he became Senior Vice President with added responsibility for business development and sales. Before joining Gentex, Downing worked for a private company where he focused on activity-based costing, price modeling and control, and financial statement consolidation.

Kevin Nash, Chief Financial Officer, CAO, Vice President of Finance, and Treasurer

Kevin Nash joined Gentex in 1999 as a Senior Accountant. He has held numerous positions with increasing responsibilities within the company, including Accounting Manager, Corporate Controller, and Director of Accounting. In 2018, he was promoted to Chief Financial Officer, Vice President of Finance, and Treasurer. Prior to his career at Gentex, Mr. Nash worked as a Senior Accountant at ODL Incorporated, primarily handling general accounting, fixed assets, and accounts receivable.

Neil Boehm, Chief Operations Officer and Chief Technology Officer

Neil Boehm joined Gentex in 2001 as a program manager. He has served in various roles with increasing responsibilities in product development and engineering, including Vice President of Engineering. In 2018, he was promoted to Chief Technology Officer and then to Chief Operations Officer in 2025, where he also continues to operate as CTO. Before joining Gentex, Boehm worked for Johnson Controls, Inc. as an engineering manager, where he gained extensive experience with international customers, including an expatriate assignment in Japan.

Matt Chiodo, Chief Sales Officer and Senior Vice President of Sales

Matt Chiodo joined Gentex in 2001 as a sales director. Since then, he has held numerous positions of increasing responsibility within the company.

Scott Ryan, Vice President, General Counsel, Corporate Secretary, and Sustainability Officer

Scott Ryan joined Gentex in 2010, having previously worked as an outside consultant for the company since 2006. He has extensive knowledge and experience in intellectual property and general legal matters for Gentex. His roles at the company have progressively increased in responsibility, leading to his promotion to Corporate Secretary in June 2015, and Vice President and General Counsel in 2018. Before his time at Gentex, Ryan worked as a law clerk for a State of Michigan circuit judge and with the Prosecuting Attorney's Association of Michigan. He also spent over six years as a patent attorney in private practice.

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The key risks for Gentex (GNTX) primarily stem from its significant reliance on the automotive industry and the potential for technological disruption within that sector.

  1. Disruption from Evolving Automotive Technologies and Autonomous Driving: Gentex's core automotive business heavily relies on supplying interior and exterior electrochromic automatic-dimming rearview mirrors, as well as automotive electronics. As the automotive industry progresses towards more advanced driver-assistance systems (ADAS) and fully autonomous vehicles, there is a risk that traditional rearview mirrors could be superseded or significantly altered by alternative technologies, such as camera-based mirror replacement systems or integrated digital displays. While Gentex also offers "digital vision" products, a rapid shift away from the company's traditional mirror offerings could impact a substantial portion of its market and product portfolio.

  2. Dependence on Global Automotive Production Volumes and Original Equipment Manufacturer (OEM) Relationships: Gentex's financial performance is intrinsically tied to the cyclical nature and production volumes of the global automotive industry. Downturns in new vehicle production, supply chain disruptions impacting vehicle manufacturers, or increased pricing pressure from major automotive OEMs could significantly reduce demand for Gentex's products, thereby affecting its revenue and profitability. The company's business model relies on strong relationships with these automotive manufacturers and their consistent production schedules.

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The increasing adoption of camera-based digital mirror systems in automobiles poses an emerging threat to Gentex's core automotive mirror business. These digital systems, which display camera feeds on interior screens, have the potential to replace both exterior and interior physical rearview mirrors, including the electrochromic automatic-dimming mirrors that constitute a significant portion of Gentex's offerings. As more vehicle manufacturers integrate such digital vision systems, the market for traditional physical mirrors could diminish.

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Gentex Corporation (GNTX) operates in several distinct markets. Here are the addressable market sizes for its main products and services:

  • Automotive Electrochromic Automatic-Dimming Rearview Mirrors: The global automotive electrochromic rearview modules market was valued at approximately USD 3.5 billion in 2024 and is projected to reach USD 5.9 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 5.4% during this period. Another estimate for the global automotive auto dimming mirror market places its value at USD 2.34 billion in 2025, with a projection to grow to USD 3.72 billion by 2034 at a CAGR of 5.27%. The U.S. region held approximately 84% of the global automotive electrochromic rearview modules market share in 2024, generating around USD 1.21 billion in revenue.
  • Automotive Electronics (Broader Segment including various electronic components): The global automotive electronics market was valued at USD 302.45 billion in 2025 and is projected to grow to USD 467.88 billion by 2034, exhibiting a CAGR of 4.90%. Another estimate values the global market at USD 362.4 billion in 2025, with a projection to reach USD 608.3 billion by 2034, exhibiting a CAGR of 5.74%. Asia Pacific dominated this global market with a 43.57% share in 2025. The U.S. market for automotive electronics is projected to reach USD 37.1 billion by 2026. The automotive electronics market in Europe was valued at USD 65.02 billion in 2023.
  • Variable Dimmable Windows (Aircraft): The global self-dimming aircraft window market was valued at USD 1.1 billion in 2025 and is expected to reach USD 2.1 billion by 2032, growing at a CAGR of 9.6%. Electronically dimmable windows represent a retrofit opportunity of US$470 million. The global commercial aircraft windshield & windows market size is valued at USD 184.38 million in 2026 and is expected to grow to USD 469.06 million by 2034, registering a CAGR of 12.38%. North America leads the market for aircraft electro-dimmable windows.
  • Fire Protection Products (Smoke Detectors and Carbon Monoxide Alarms): The global fire protection system market was valued at USD 71.97 billion in 2025 and is projected to grow from USD 75.51 billion in 2026 to USD 131.97 billion by 2034, exhibiting a CAGR of 7.20%. North America dominated the global fire protection system market with a 35.70% share in 2025.
    • Smoke Detectors: The global smoke detector market size was estimated at USD 3.55 billion in 2024 and is projected to reach USD 5.88 billion by 2033, growing at a CAGR of 5.8% from 2025 to 2033. Another source estimates the global smoke detector market size at USD 2.4 billion in 2025, expecting it to reach USD 4.6 billion by 2034, exhibiting a CAGR of 7.26%. North America held the largest revenue share of 36.3% in the global smoke detector market in 2024.
    • Carbon Monoxide Alarms and Detectors: The global carbon monoxide alarms market size was valued at USD 483.86 million in 2025 and is projected to reach USD 1006.61 million by 2035, exhibiting a CAGR of 7.6%. Another estimate for the global carbon monoxide (CO) detector market valued it at USD 489.34 million in 2024, with expectations to reach nearly USD 808.64 million by 2032, growing at a CAGR of 6.48%. The Asia Pacific region was the leading revenue generator in the global carbon monoxide detectors market in 2021.

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Gentex Corporation (GNTX) is expected to drive future revenue growth over the next two to three years through several key initiatives and product expansions:

  1. Integration and Growth from the VOXX Acquisition: Gentex's acquisition of VOXX International Corporation in April 2025 is a significant driver of consolidated revenue. VOXX is anticipated to contribute an annualized revenue of $325-$375 million, with an estimated $240-$280 million in revenue for calendar year 2025. For 2026, VOXX is projected to contribute approximately 5% growth to Gentex's consolidated revenue. The company is actively working to align product strategies, optimize customer relationships, and identify operational synergies to maximize this acquisition.
  2. Launch and Ramp-up of New and Advanced Automotive Products: Gentex is expanding its portfolio of advanced automotive technologies. Shipments of Driver Monitoring Systems (DMS) to Volvo and Polestar began in the fourth quarter of 2025, with significant revenue tailwinds expected in 2027 and beyond. Growth in Full Display Mirror (FDM) technology is also cited as a driver for 2027 revenue. Additionally, the first customer launch for a dimmable visor product is targeted for the second half of 2027.
  3. Expansion of Dimmable Glass Technologies: While revenue from dimmable glass products for automotive applications is not expected to significantly impact 2026, large area dimmable devices are identified as significant medium-term growth drivers, aligning with the increasing demand for vehicle electrification. The company also continues to supply variable dimmable windows to aircraft manufacturers and airline operators, contributing to its "Other" product lines.
  4. Increased Penetration of Advanced Features in Core Automotive Mirrors: Despite fluctuations in global light vehicle production, Gentex has demonstrated resilience and outperformance in its primary automotive markets. This is achieved through the increased sales of advanced feature mirrors and a higher content per vehicle. This trend of integrating more sophisticated features into its core auto-dimming mirror products is expected to continue driving revenue growth.

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Capital Allocation Decisions (Last 3-5 Years)

Share Repurchases

  • Gentex repurchased $319.0 million of its common stock in 2025, buying back 13.6 million shares at an average price of $23.48 per share.
  • In 2024, the company conducted $206.108 million in share repurchases, following $147.401 million in 2023.
  • In July 2025, the Board of Directors authorized an additional share repurchase program of up to 40 million shares. This was supplementary to existing authorizations, and as of December 31, 2025, approximately 35.9 million shares remained available for repurchase under previous plans.

Share Issuance

  • In the second quarter of 2022, Gentex issued $5.0 million of its common stock as part of an investment in GreenMarbles.
  • The company maintains employee stock purchase plans; as of September 30, 2024, 1,624,122 shares were issued under a prior plan, and 442,718 shares under the 2022 plan.

Outbound Investments

  • In December 2024, Gentex announced the all-cash acquisition of VOXX International for $196 million, with the deal closing in April 2025. This acquisition aimed to diversify revenue and expand into automotive electronics, consumer audio, and biometric technology.
  • During 2025, Gentex acquired BioConnect and GalvanEyes/BioCenturion to enhance its biometric authentication offerings.
  • In May 2023, Gentex led a Series B financing round for ADASKY, a developer of thermal sensing systems, and established a commercial, engineering, and manufacturing collaboration agreement to accelerate market entry.

Capital Expenditures

  • Gentex's capital expenditures were $144.7 million in 2024 and peaked at $183.7 million in 2023.
  • For 2026, capital expenditures are projected to be between $125 million and $140 million.
  • Capital expenditures prioritize manufacturing investments, new technology creation (including large area electrochromic devices like visors and sunroofs), and capacity additions.

Better Bets vs. Gentex (GNTX)

Peer Outperformance in Automotive Parts & Equipment

GNTX has outperformed 54% of its 37 Automotive Parts & Equipment peers over 5Y. Among the peers that beat it are ALV and DORM. Automotive Parts & Equipment ranks 15th of 23 industries in Consumer Discretionary by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Automotive Parts & Equipment constituents that GNTX has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
41%
of 39 industry peers · -20.5% return
3Y
44%
of 39 industry peers · -28.0% return
5Y
54%
of 37 industry peers · -27.6% return
Automotive Parts & Equipment peers with revenue growth within 4pp of GNTX's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
GNTX Gentex 7.4% 11.3x -20.5%-28.0%-27.6% —
ALV Autoliv 4.4% 13.1x -6.0%26.9%48.2% +76pp
DORM Dorman Products 5.0% 16.7x -20.3%64.4%26.9% +54pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Consumer Discretionary sector, ranked by 5Y. Automotive Parts & Equipment is GNTX's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Education Services 14 -16.0%78.1%68.3% LINC 279% · PRDO 222% · CVSA 221%
Homebuilding 18 -9.1%33.5%50.2% GRBK 217% · PHM 161% · TOL 139%
Specialty Stores 7 5.4%46.3%14.2% SIG 33% · ASO 19% · FIVE 15%
Home Improvement Retail 5 -26.7%-5.8%-1.7% HVT 10% · LOW 0% · HD -2%
Hotels, Resorts & Cruise Lines 22 14.9%42.9%-2.6% RCL 173% · MAR 140% · HLT 134%
Automotive Retail 18 -21.3%-2.6%-7.6% MUSA 223% · PAG 120% · ORLY 107%
Distributors 4 -12.2%-26.1%-14.0% ARMK 139% · GPC 21% · LKQ -49%
Home Furnishings 4 -8.5%20.6%-17.3% SGI 33% · LZB 1% · MHK -35%
Footwear 10 54.8%47.6%-18.2% WEYS 174% · DECK 21% · SHOO 18%
Specialized Consumer Services 10 -19.0%12.5%-18.9% HRB 97% · FTDR 70% · SCI 38%
Restaurants 35 -8.5%-13.9%-23.8% EAT 300% · CAKE 139% · BH-A 103%
Leisure Products 13 -25.5%-21.6%-40.7% GOLF 73% · HAS 12% · MCFT -20%
Casinos & Gaming 21 -16.4%-22.3%-41.5% MCRI 96% · RRR 29% · BYD 17%
Household Appliances 18 -7.0%0.3%-42.2% FLXS 206% · HBB 169% · KEQU 159%
Automotive Parts & Equipment ← 38 -16.9%-16.0%-42.3% MOD 1632% · GTX 263% · CAAS 83%
Apparel Retail 26 -4.9%16.1%-42.7% ANF 236% · URBN 134% · ROST 114%
Apparel, Accessories & Luxury Goods 28 -9.4%6.9%-43.6% RL 231% · TPR 223% · ELA 212%
Leisure Facilities 11 -21.6%-8.5%-44.8% OSW 130% · JAKK 117% · ESCA 22%
Computer & Electronics Retail 3 -4.7%41.6%-45.9% BBY 10% · GME -46% · UPBD -65%
Broadline Retail 15 -8.8%14.6%-57.2% DDS 304% · EBAY 61% · AMZN 46%
Automobile Manufacturers 8 -78.3%-51.6%-72.5% GM 61% · TSLA 46% · F 25%
Consumer Electronics 11 -15.3%-18.3%-75.1% AXIL 2253% · GRMN 89% · SONO -50%
Other Specialty Retail 18 -35.9%-45.4%-79.7% TLF 106% · BBW 64% · WINA 58%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

GNTXMGALEAVCAPTVALVMedian
NameGentex Magna In.Lear Visteon Aptiv Autoliv  
Mkt Price22.0462.22118.2589.8543.58113.9276.03
Mkt Cap4.616.95.92.49.28.47.2
Rev LTM2,62642,67123,7013,77918,72511,07914,902
Op Inc LTM5132,3398702771,8251,017944
FCF LTM4973,207849160684757720
FCF 3Y Avg4331,8776592331,257573616
CFO LTM5944,5251,4792881,3511,1611,256
CFO 3Y Avg5673,7461,2473681,9831,0741,161

Growth & Margins

GNTXMGALEAVCAPTVALVMedian
NameGentex Magna In.Lear Visteon Aptiv Autoliv  
Rev Chg LTM10.1%2.6%3.5%-1.1%5.3%5.9%4.4%
Rev Chg 3Y Avg7.4%1.8%4.0%-2.2%-0.7%4.4%2.9%
Rev Chg Q-1.0%3.3%3.0%-0.9%2.3%3.3%2.7%
QoQ Delta Rev Chg LTM-0.2%0.8%0.8%-0.2%0.4%0.8%0.6%
Op Inc Chg LTM10.3%17.0%1.2%-19.2%-4.1%-5.8%-1.4%
Op Inc Chg 3Y Avg7.3%11.0%1.1%10.2%1.3%19.4%8.8%
Op Mgn LTM19.5%5.5%3.7%7.3%9.7%9.2%8.3%
Op Mgn 3Y Avg20.2%5.0%3.7%8.3%10.0%9.2%8.8%
QoQ Delta Op Mgn LTM0.7%0.2%0.1%-0.5%0.2%-0.6%0.1%
CFO/Rev LTM22.6%10.6%6.2%7.6%7.2%10.5%9.1%
CFO/Rev 3Y Avg23.2%8.8%5.0%9.6%10.6%10.0%9.8%
FCF/Rev LTM18.9%7.5%3.6%4.2%3.7%6.8%5.5%
FCF/Rev 3Y Avg17.7%4.4%2.6%6.1%6.7%5.3%5.7%

Valuation

GNTXMGALEAVCAPTVALVMedian
NameGentex Magna In.Lear Visteon Aptiv Autoliv  
Mkt Cap4.616.95.92.49.28.47.2
P/S1.80.40.30.60.50.80.6
P/Op Inc9.07.26.88.75.18.37.8
P/EBIT9.011.17.28.58.58.58.5
P/E11.322.210.715.941.913.114.5
P/CFO7.73.74.08.36.87.37.0
Total Yield11.1%7.7%12.1%7.8%2.4%10.7%9.2%
Dividend Yield2.3%3.2%2.7%1.5%0.0%3.1%2.5%
FCF Yield 3Y Avg7.7%13.2%10.8%8.7%8.0%6.6%8.4%
D/E0.00.40.50.20.60.30.3
Net D/E-0.10.30.3-0.10.50.20.3

Returns

GNTXMGALEAVCAPTVALVMedian
NameGentex Magna In.Lear Visteon Aptiv Autoliv  
1M Rtn-6.8%-5.9%-3.8%-12.9%-6.5%-7.5%-6.7%
3M Rtn-14.0%-4.1%-13.9%-19.1%-29.7%-5.0%-14.0%
6M Rtn1.0%14.0%-1.9%3.0%-38.6%10.0%2.0%
12M Rtn-20.5%39.6%19.2%-24.7%-48.8%-6.0%-13.2%
3Y Rtn-28.0%28.9%-4.7%-34.3%-56.0%26.9%-16.3%
1M Excs Rtn-7.2%-6.3%-4.1%-13.3%-6.9%-7.8%-7.0%
3M Excs Rtn-18.8%-8.8%-18.6%-23.8%-34.4%-9.7%-18.7%
6M Excs Rtn-15.3%-4.3%-19.0%-13.6%-55.4%-6.9%-14.5%
12M Excs Rtn-36.6%23.4%1.9%-42.4%-64.7%-23.1%-29.8%
3Y Excs Rtn-101.2%-49.0%-79.7%-107.6%-130.9%-43.3%-90.4%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Automotive Products2,2562,2652,2551,8751,697
Premium Audio Products15100  
Other12749454434
Total2,5342,3132,2991,9191,731


Operating Income by Segment
$ Mil20252024202320222021
Automotive Products491476496372414
Premium Audio Products800  
Other-25-160-2-4
Total474460496370410


Assets by Segment
$ Mil20242023202220212020
Automotive Products1,8191,7821,6711,4951,436
Corporate852743614601728
Other9086433533
Total2,7612,6112,3272,1312,198


Price Behavior

Price Behavior
Market Price$22.04 
Market Cap ($ Bil)4.6 
First Trading Date03/26/1990 
Distance from 52W High-22.2% 
   50 Days200 Days
DMA Price$23.28$23.28
DMA Trendindeterminatedown
Distance from DMA-5.3%-5.3%
 3M1YR
Volatility25.0%26.5%
Downside Capture144.99106.76
Upside Capture38.8860.61
Correlation (SPY)21.1%35.8%
GNTX Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta0.900.620.750.880.730.68
Up Beta1.340.430.280.910.700.61
Down Beta-0.95-0.180.460.440.660.59
Up Capture35%42%80%82%43%32%
Bmk +ve Days10213268138427
Stock +ve Days9152755107352
Down Capture175%145%121%117%99%98%
Bmk -ve Days11213259113324
Stock -ve Days11263671138385

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GNTX
GNTX-20.9%26.4%-0.91-
Sector ETF (XLY)-6.7%19.5%-0.4840.6%
Equity (SPY)16.7%13.0%0.9236.0%
Gold (GLD)13.1%29.3%0.4214.7%
Commodities (DBC)45.1%20.7%1.71-19.5%
Real Estate (VNQ)3.7%13.7%0.0122.6%
Bitcoin (BTCUSD)-24.8%44.8%-0.513.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GNTX
GNTX-5.5%26.5%-0.23-
Sector ETF (XLY)4.5%24.1%0.1553.3%
Equity (SPY)12.9%17.2%0.5752.7%
Gold (GLD)19.0%18.8%0.823.8%
Commodities (DBC)10.6%19.6%0.423.5%
Real Estate (VNQ)0.7%18.9%-0.0744.5%
Bitcoin (BTCUSD)12.0%52.6%0.4118.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GNTX
GNTX4.3%26.9%0.18-
Sector ETF (XLY)12.1%22.2%0.5057.3%
Equity (SPY)15.5%17.9%0.7359.6%
Gold (GLD)12.0%16.4%0.602.9%
Commodities (DBC)8.5%18.1%0.3915.5%
Real Estate (VNQ)4.8%20.7%0.1947.6%
Bitcoin (BTCUSD)63.7%66.2%1.0313.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8312026
Short Interest: Shares Quantity16.9 Mil
Short Interest: % Change Since 81520267.2%
Average Daily Volume2.5 Mil
Days-to-Cover Short Interest6.7 days
Basic Shares Quantity208.6 Mil
Short % of Basic Shares8.1%

Earnings Returns History

Updated 8/26/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/24/2026-3.8%-0.7%-0.7%
4/24/20263.7%0.3%3.6%
1/30/2026-4.3%1.8%-3.1%
10/24/2025-10.2%-10.5%-14.8%
7/25/202516.2%11.9%19.3%
4/25/2025-2.8%-1.4%-1.6%
1/31/2025-8.2%-11.3%-14.3%
10/25/20245.4%2.2%2.5%
...
SUMMARY STATS   
# Positive111411
# Negative12912
Median Positive3.6%3.3%4.3%
Median Negative-4.0%-2.8%-2.4%
Max Positive16.2%11.9%19.3%
Max Negative-10.2%-11.3%-14.8%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/24/2026-3.8%-0.7%-0.7%
4/24/20263.7%0.3%3.6%
1/30/2026-4.3%1.8%-3.1%
10/24/2025-10.2%-10.5%-14.8%
7/25/202516.2%11.9%19.3%
4/25/2025-2.8%-1.4%-1.6%
1/31/2025-8.2%-11.3%-14.3%
10/25/20245.4%2.2%2.5%
7/26/2024-4.2%-6.4%-4.1%
4/26/20240.2%-1.5%-0.8%
1/26/20246.5%7.2%13.1%
10/27/2023-7.4%-2.7%1.7%
7/28/20233.6%6.8%0.7%
4/28/20234.7%3.3%2.4%
1/27/2023-2.8%3.7%-2.2%
10/28/20222.5%1.1%11.3%
4/22/20223.5%5.6%4.3%
1/28/2022-1.6%0.6%-3.2%
10/22/2021-6.8%-4.7%-0.6%
7/23/20211.6%7.0%-1.7%
4/23/2021-0.7%0.4%-2.5%
1/29/2021-1.5%3.3%7.6%
10/23/20203.2%-2.8%11.7%
SUMMARY STATS   
# Positive111411
# Negative12912
Median Positive3.6%3.3%4.3%
Median Negative-4.0%-2.8%-2.4%
Max Positive16.2%11.9%19.3%
Max Negative-10.2%-11.3%-14.8%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/04/202610-Q
03/31/202605/06/202610-Q
12/31/202502/24/202610-K
09/30/202511/07/202510-Q
06/30/202508/08/202510-Q
03/31/202505/06/202510-Q
12/31/202402/25/202510-K
09/30/202411/01/202410-Q
06/30/202408/02/202410-Q
03/31/202405/03/202410-Q
12/31/202302/22/202410-K
09/30/202311/03/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/22/202310-K
09/30/202211/04/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/04/202610-Q
03/31/202605/06/202610-Q
12/31/202502/24/202610-K
09/30/202511/07/202510-Q
06/30/202508/08/202510-Q
03/31/202505/06/202510-Q
12/31/202402/25/202510-K
09/30/202411/01/202410-Q
06/30/202408/02/202410-Q
03/31/202405/03/202410-Q
12/31/202302/22/202410-K
09/30/202311/03/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/22/202310-K
09/30/202211/04/202210-Q
06/30/202208/03/202210-Q
03/31/202205/05/202210-Q
12/31/202102/23/202210-K
09/30/202111/05/202110-Q
06/30/202108/05/202110-Q
03/31/202105/06/202110-Q
12/31/202002/22/202110-K
09/30/202011/05/202010-Q
06/30/202008/07/202010-Q
03/31/202005/08/202010-Q
12/31/201902/26/202010-K
09/30/201911/01/201910-Q

Recent Forward Guidance

Updated 7/27/2026

Latest: Q2 2026 Earnings Reported 7/24/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Depreciation & AmortizationReported100.00 Mil105.00 Mil110.00 Mil0 AffirmedGuidance: 105.00 Mil for 2026
2026 Consolidated RevenueReported2.65 Bil2.70 Bil2.75 Bil0 AffirmedGuidance: 2.70 Bil for 2026
2026 Gross ProfitCalculated914.25 Mil945.00 Mil976.25 Mil  Rev x Gross Margin
2026 Gross MarginReported34.5%35.0%35.5% 0.5%RaisedGuidance: 34.5% for 2026
2026 Operating ExpensesReported405.00 Mil410.00 Mil415.00 Mil-1.2% LoweredGuidance: 415.00 Mil for 2026
2026 Operating IncomeCalculated499.25 Mil535.00 Mil571.25 Mil  Rev x Gross Margin - Opex
2026 Operating MarginCalculated18.84%19.81%20.77%  Implied by guided Rev/GM/Opex
2026 Tax RateReported16.0%16.5%17.0% -0.5%LoweredGuidance: 17.0% for 2026
2026 Capital ExpendituresReported115.00 Mil120.00 Mil125.00 Mil-9.4% LoweredGuidance: 132.50 Mil for 2026
2027 RevenueReported2.80 Bil2.85 Bil2.90 Bil0 AffirmedGuidance: 2.85 Bil for 2027


Prior: Q1 2026 Earnings Reported 4/24/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Depreciation & AmortizationReported100.00 Mil105.00 Mil110.00 Mil0.0% AffirmedGuidance: 105.00 Mil for 2026
2026 Consolidated RevenueReported2.65 Bil2.70 Bil2.75 Bil1.9% RaisedGuidance: 2.65 Bil for 2026
2026 Gross ProfitCalculated901.00 Mil931.50 Mil962.50 Mil  Rev x Gross Margin
2026 Gross MarginReported34.0%34.5%35.0% 0.0%AffirmedGuidance: 34.5% for 2026
2026 Operating ExpensesReported410.00 Mil415.00 Mil420.00 Mil0.0% AffirmedGuidance: 415.00 Mil for 2026
2026 Operating IncomeCalculated481.00 Mil516.50 Mil552.50 Mil  Rev x Gross Margin - Opex
2026 Operating MarginCalculated18.15%19.13%20.09%  Implied by guided Rev/GM/Opex
2026 Tax RateReported16.0%17.0%18.0% 0.0%AffirmedGuidance: 17.0% for 2026
2026 Capital ExpendituresReported125.00 Mil132.50 Mil140.00 Mil0.0% AffirmedGuidance: 132.50 Mil for 2026
2027 RevenueReported2.80 Bil2.85 Bil2.90 Bil1.8% RaisedGuidance: 2.80 Bil for 2027

Q4 2025 Earnings Reported 1/30/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Depreciation & AmortizationReported100.00 Mil105.00 Mil110.00 Mil   
2026 RevenueReported2.60 Bil2.65 Bil2.70 Bil3.9% Higher NewGuidance: 2.55 Bil for 2025
2026 Gross ProfitCalculated884.00 Mil914.25 Mil945.00 Mil  Rev x Gross Margin
2026 Gross MarginReported34.0%34.5%35.0% 0.8%Higher NewGuidance: 33.75% for 2025
2026 Operating ExpensesReported410.00 Mil415.00 Mil420.00 Mil7.8% Higher NewGuidance: 385.00 Mil for 2025
2026 Operating IncomeCalculated464.00 Mil499.25 Mil535.00 Mil  Rev x Gross Margin - Opex
2026 Operating MarginCalculated17.85%18.84%19.81%  Implied by guided Rev/GM/Opex
2026 Estimated Annual Tax RateReported16.0%17.0%18.0% 0.8%Higher NewGuidance: 16.25% for 2025
2026 Capital ExpendituresReported125.00 Mil132.50 Mil140.00 Mil10.4% Higher NewGuidance: 120.00 Mil for 2025
2027 RevenueReported2.75 Bil2.80 Bil2.85 Bil   

Q3 2025 Earnings Reported 10/24/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2025 Consolidated RevenueReported2.50 Bil2.55 Bil2.60 Bil1.0% RaisedGuidance: 2.52 Bil for 2025
2025 Gross ProfitCalculated837.50 Mil860.62 Mil884.00 Mil  Rev x Gross Margin
2025 Gross MarginReported33.5%33.75%34.0% 0.2%RaisedGuidance: 33.5% for 2025
2025 Operating Expenses (excluding severance)Reported380.00 Mil385.00 Mil390.00 Mil1.3% RaisedGuidance: 380.00 Mil for 2025
2025 Tax RateReported16.0%16.25%16.5% -0.2%LoweredGuidance: 16.5% for 2025
2025 Capital ExpendituresReported115.00 Mil120.00 Mil125.00 Mil6.7% RaisedGuidance: 112.50 Mil for 2025

Insider Activity

Updated 5/22/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Anderson, Joseph B JRDirectSell515202622.985,939  Form
2Walker, Brian CDirectSell515202622.985,939136,450556,115Form
3Brown, Leslie LDirectSell505202622.8510,782246,336830,763Form
4Schaum, Richard ODirectSell430202623.314,815112,2471,898,599Form
5Boehm, NeilChief Technology OfficerDirectSell219202624.8211,248279,1751,463,164Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Anderson, Joseph B JRDirectSell515202622.985,939  Form
2Walker, Brian CDirectSell515202622.985,939136,450556,115Form
3Brown, Leslie LDirectSell505202622.8510,782246,336830,763Form
4Schaum, Richard ODirectSell430202623.314,815112,2471,898,599Form
5Boehm, NeilChief Technology OfficerDirectSell219202624.8211,248279,1751,463,164Form
6Ryan, Scott PGeneral CounselDirectSell219202624.739,024223,1651,095,029Form
7Nash, Kevin CChief Financial OfficerDirectSell219202624.9811,885296,8481,484,365Form
8Downing, Steven RPresident and CEODirectSell219202624.7535,000866,1005,237,922Form
9Chiodo, MatthewVice President of SalesDirectSell218202625.0219,827496,171878,403Form
10Anderson, Joseph B JRDirectSell519202522.873,76486,076135,815Form

Investor Activity (13F)

Updated Sep 25, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
XXEC, Inc.$36.6 Mil6.4%23New13F
Schwerin Boyle Capital Management Inc$13.6 Mil1.7%47TRIM -10.7%13F
Triodos Investment Management BV$17.5 Mil1.3%49Hold13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
XXEC, Inc.$36.6 Mil6.4%23New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Schwerin Boyle Capital Management Inc$13.6 Mil1.7%47TRIM -10.7%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
XXEC, Inc.$36.6 Mil6.4%23New13F
Triodos Investment Management BV$17.5 Mil1.3%49Hold13F
Schwerin Boyle Capital Management Inc$13.6 Mil1.7%47TRIM -10.7%13F
Core Cache Last Updated: 9/24/2026