diff --git a/model_bakery/baker.py b/model_bakery/baker.py
index b6f16d6d..9229aaf6 100644
--- a/model_bakery/baker.py
+++ b/model_bakery/baker.py
@@ -698,10 +698,10 @@ def _handle_generic_foreign_keys(self, instance: Model, attrs: Dict[str, Any]):
             content_type_field = data["content_type_field"]
             object_id_field = data["object_id_field"]
             value = data["value"]
-            if value is None:
-                continue
             if is_iterator(value):
                 value = next(value)
+            if value is None:
+                continue
 
             setattr(instance, field_name, value)
             setattr(
diff --git a/tests/test_filling_fields.py b/tests/test_filling_fields.py
index 0fd4970a..95a259b7 100644
--- a/tests/test_filling_fields.py
+++ b/tests/test_filling_fields.py
@@ -341,6 +341,24 @@ def test_with_iter(self):
         assert dummies[1].content_type == expected_content_type
         assert dummies[1].object_id == objects[1].pk
 
+    def test_with_none_in_iter(self):
+        from django.contrib.contenttypes.models import ContentType
+
+        profile = baker.make(models.Profile)
+        dummies = baker.make(
+            models.DummyGenericForeignKeyModel,
+            content_object=iter((None, profile)),
+            _quantity=2,
+        )
+
+        expected_content_type = ContentType.objects.get_for_model(models.Profile)
+
+        assert dummies[0].content_object is None
+
+        assert dummies[1].content_object == profile
+        assert dummies[1].content_type == expected_content_type
+        assert dummies[1].object_id == profile.pk
+
     def test_with_fill_optional(self):
         from django.contrib.contenttypes.models import ContentType