JOBY

JOBY

JOBY

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q3	Sep 30, 2025	ValueWorks Capital	-	-	AL, AMZN, CHRD, GLW, JOBY, LNG, MSB, MU, QCOM, UNFI	AI, Bull Market, growth, rates, technology, value	Manager views AI as driving massive economic opportunities and transforming the world, similar to how technological advances have driven economic cycles over the past two hundred years. AI breakthroughs are creating the foundation for the current expansion cycle.		View
2023 Q3	Sep 30, 2023	ValueWorks Capital	-	-	AAPL, AL, CHRD, GS, HY, JOBY, LNG, MU, NETI, QCOM, TDW, TSLA, TUSK, WAL	energy, liquidity, positioning, technology, value, volatility	Manager expects an energy explosion rather than transition, supplementing fossil fuels with multiple additional energy sources. Hyster-Yale is deploying industrial scale fuel cells, while Eneti and Tidewater are developing offshore wind farms. Electric vehicles may prove superior due to being quieter, cleaner, less expensive to make, and more comfortable.		View
2024 Q2	Jul 2, 2024	TIFF	-	-	AL, AMZN, CHRD, GLW, JOBY, LNG, MSB, MU, QCOM, UNFI	AI, energy, growth, technology, value	Manager views AI as driving massive economic opportunities and transforming the world. AI breakthroughs are creating the foundation for aggressive economic expansion ahead, similar to how technological advances have driven economic cycles over the past two hundred years.		View
2025 Q2	Jun 30, 2025	ValueWorks Capital	-	-	AL, AMZN, CART, CHRD, JOBY, LNG, MLP, MSB, MU, QCOM, UNFI	energy, Portfolio Management, semiconductors, technology, value, volatility	Manager describes a herky-jerky, uncertain period with multiple 15-20% market moves in both directions. Sentiment has swung from fear to exuberance to doom and back to confidence. This volatility could be the new normal for several years as markets advance into a 25-year high.		View
2023 Q2	Jun 30, 2023	ValueWorks Capital	-	-	AAPL, CHRD, HY, JOBY, LNG, MU, QCOM, TDW, TUSK, WAL	energy, financials, inflation, semiconductors, technology, value	Manager sees declining inflation trends driven by supply chain normalization and commodity price reversals. Oil down 30% from peak, nickel and aluminum down even more. Believes inflation could trend toward Fed targets without serious economic damage.		View
2024 Q1	Apr 2, 2024	TIFF	-	-	AL, AMZN, CART, CHRD, JOBY, LNG, MLP, MSB, MU, QCOM, UNFI	energy, industrials, materials, technology, value, volatility	Manager describes extreme market volatility with multiple 15-20% moves in both directions over weeks, driven by sentiment swings from fear to exuberance to doom and back to confidence. This volatility is expected to be the new normal for several years as markets advance toward a 25-year high.		View
2025 Q3	Oct 31, 2025	Kinsman Oak	-	-	ACHR, ASTS, CRML, DGNX, FRMI, GLD, JOBY, LAC, MEME, NNE, NXE, OKLO, PPTA, QMMM, QS, QUBT, RGCI, RGTI, SERV, SKE, TMC	AI, Bubble, debasement, gold, infrastructure, Speculation, technology, valuation	The manager sees AI as a speculative bubble similar to the dot-com era, with massive capital misallocation and unsustainable valuations. Big Tech firms are spending $400 billion in 2025 on AI infrastructure buildout, requiring a 100-fold revenue increase to justify costs. The manager believes this capex binge will eventually end badly when investors realize AI isn't generating incremental free cash flow.		View
2025 Q3	Oct 29, 2025	Polen Capital – U.S. Small Company Growth	21.1%	27.1%	BE, BLDE, CRS, JOBY, ODD, ORCL, POWL, TMDX	aerospace, AI, Data centers, Electrification, growth, innovation, small cap	The world faces a shortage of electric power due to growing adoption of electric vehicles, cloud data center proliferation, and the AI revolution. Bank of America estimates these drivers will push electricity demand growth to a 2.5% annual run rate, 5x higher than the last decade's 0.5% growth. The strategic value of AI in the US-China geopolitical power struggle has made electricity production a national priority.	SOFI BE GOOGL TSLA	View
2025 Q3	Oct 2, 2025	Rodrigo Benedetti	-	-	ABX, CLS, CONL, IJH, IREN, IWM, JOBY, MSFT, NBIS, NEM, ORCL, PLTR, RXST, SNAP, STRL, TGEN, TSSI, VRT	AI, Fed policy, Gold Miners, Long/Short, Risk Appetite, Shorts, Speculation	Manager attempted to short AI-related names believing the theme needed a rest, targeting low quality companies benefiting from datacenter capex but offering commoditizable services at high multiples. However, the market continued financing datacenter capex aggressively, forcing position closures after significant losses.		View
2023 Q2	Jul 19, 2023	Polen Capital – U.S. Small Company Growth	7.4%	-0.9%	BE, BLDE, CRS, JOBY, ODD, ORCL, POWL, TMDX	aerospace, AI, Electrification, growth, innovation, small caps, technology	The manager views electrification as a multi-year theme driven by electric vehicles, cloud data centers, and AI revolution creating electricity demand growth of 2.5% annually versus 0.5% historically. The strategic value of AI in US-China geopolitical competition has made electricity production a national priority.	TMDX CRS ODD POWL JOBY 6BE GR	View
2023 Q1	Apr 19, 2023	Polen Capital – U.S. Small Company Growth	7.4%	-0.9%	BE, BLDE, CRS, JOBY, ODD, ORCL, POWL, TMDX	aerospace, AI, Data centers, Electrification, growth, innovation, small caps	AI data centers require enormous amounts of power, creating challenges for power grids to supply necessary electricity for constant and growing AI workloads. This has driven demand for solutions like Bloom Energy's fuel cells that can generate reliable power onsite for data centers.	TMDX CRS ODD POWL JOBY 6BE GR	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 28, 2026	Fund Letters	Polen Capital - U.S. Small Company Growth	Joby Aviation	Industrials	Aerospace & Defense	Bull	NYSE	Aerospace, Blade Acquisition, Electric Aircraft, eVTOL, Next Generation Aviation, Transportation Technology, urban air mobility	View Pitch
Apr 27, 2026	Fund Letters	Polen Capital - U.S. Small Company Growth	Joby Aviation	Industrials	Aerospace & Defense	Bull	NYSE	Aerospace, Air taxi, Blade Acquisition, Electric Aircraft, Electric Aviation, eVTOL, Transportation, Urban Mobility	View Pitch
Sep 16, 2025	Short Thesis	Kerrisdale Capital	Joby Aviation Inc	Industrials	Aerospace & Defense (eVTOL / Urban Air Mobility)	Bear	NYSE	Capital, Certification, eVTOL, FAA, Optionality	View Pitch
Aug 8, 2025	Seeking Alpha	Richard Durant	Joby Aviation, Inc.	Industrials	Airports & Air Services	Bull	NYSE	—	View Pitch
Aug 8, 2025	Seeking Alpha	First Principles Partners	Joby Aviation Inc.	Industrials	Airports & Air Services	Bull	NYSE	—	View Pitch
Aug 7, 2025	Seeking Alpha	Yiannis Zourmpanos	Joby Aviation	Industrials	Airports & Air Services	Bull	NYSE	—	View Pitch
Aug 7, 2025	Seeking Alpha	Undercovered Deep Insights	Joby Aviation	Industrials	Airports & Air Services	Bull	NYSE	—	View Pitch

BSD Shareholders of JOBY

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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