Here’s What Lifted Joby Aviation (JOBY) in Q3

Polen Capital, an investment management company, released its “Polen U.S. Small Cap Growth Strategy” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the quarter, the strategy returned 21.4% gross and 21.1% net of fees, respectively, compared to a 12.2% return for the Russell 2000 Growth Index. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2025.

In its third-quarter 2025 investor letter, Polen U.S. Small Cap Growth Strategy highlighted stocks such as Joby Aviation, Inc. (NYSE:JOBY). Joby Aviation, Inc. (NYSE:JOBY) is a vertically integrated air mobility company. The one-month return of Joby Aviation, Inc. (NYSE:JOBY) was -15.25%, and its shares gained 92.81% of their value over the last 52 weeks. On November 19, 2025, Joby Aviation, Inc. (NYSE:JOBY) stock closed at $13.67 per share, with a market capitalization of $12.464 billion.

Polen U.S. Small Cap Growth Strategy stated the following regarding Joby Aviation, Inc. (NYSE:JOBY) in its third quarter 2025 investor letter:

“The top contributors to the Portfolio’s relative performance in the quarter were Bloom Energy, Joby Aviation, Inc. (NYSE:JOBY), and Powell Industries. Joby Aviation is the leading company in the emerging electric vertical takeoff and landing (“eVTOL”) segment—a new class of aircraft that use electric motors and batteries to fly. eVTOLs help to solve the growing issues around urban traffic congestion, slow ground transportation, and the environmental impact of traditional aviation by providing faster, quieter, and cleaner aerial transit that doesn’t require long runways. The cost to manufacture and operate these eVTOLs is relatively inexpensive as compared to helicopters, for instance, and at scale this should become a viable alternative to requesting an Uber to the airport. During the period, the stock benefitted from excitement around testing longer-range flights, as well as from the announcement of the acquisition of Blade Air Mobility’s passenger business.”

Joby Aviation (JOBY) Soars 48% on Aggressive Expansion

Joby Aviation, Inc. (NYSE:JOBY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 31 hedge fund portfolios held Joby Aviation, Inc. (NYSE:JOBY) at the end of the second quarter, up from 23 in the previous quarter. While we acknowledge the risk and potential of Joby Aviation, Inc. (NYSE:JOBY) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Joby Aviation, Inc. (NYSE:JOBY) and that has 10,000% upside potential, check out our report about this cheapest AI stock.

In another article, we covered Joby Aviation, Inc. (NYSE:JOBY) and shared the list of stocks Jim Cramer discussed recently. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.