Investor Letters 2026 2026 First Quarter 2025 2025 Fourth Quarter 2025 Third Quarter 2025 Second Quarter 2025 First Quarter 2024 2024 Fourth Quarter 2024 Third Quarter 2024 Second Quarter 2024 First Quarter 2023 2023 Fourth Quarter 2023 Third Quarter 2023 Second Quarter 2023 First Quarter 2022 2022 Fourth Quarter 2022 Third Quarter 2022 Second Quarter 2022 First Quarter 2021 2021 Fourth Quarter 2021 Third Quarter 2021 Second Quarter 2021 First Quarter 2020 2020 Fourth Quarter 2020 Third Quarter 2020 Second Quarter 2020 First Quarter 2019 2019 Fourth Quarter 2019 Third Quarter 2019 Second Quarter 2019 First Quarter 2018 2018 Fourth Quarter 2018 Third Quarter 2018 Second Quarter 2018 First Quarter 2017 2017 Fourth Quarter
