Annual Reports - Annual Letters to Shareholders
2023 Annual Report 3 MB
2022 Shareholder Letter 13.4 MB
2022 Annual Report 14.2 MB
2021 Shareholder Letter 7.6 MB
2021 Annual Report 21.1 MB
2020 Annual Report 3.2 MB
2019 Shareholder Letter 4.6 MB
2019 Annual Report 2.6 MB
2018 Shareholder Letter 1.9 MB
2018 Annual Report 3.3 MB
2017 Shareholder Letter 3.9 MB
2017 Annual Report 1.9 MB
2016 Annual Report 1.8 MB
2015 Annual Report 1.3 MB
2014 Annual Report 4 MB
2013 Annual Report 3 MB