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Investment Letters

2020
PDF
Third Quarter 2020
PDF
Second Quarter 2020
PDF
First Quarter 2020
 
2019
PDF
Fourth Quarter 2019
PDF
Third Quarter 2019
PDF
Second Quarter 2019
PDF
First Quarter 2019
 
2018
PDF
Fourth Quarter 2018
PDF
Third Quarter 2018
PDF
Second Quarter 2018
PDF
First Quarter 2018
 
2017
PDF
Fourth Quarter 2017
PDF
Third Quarter 2017
PDF
Second Quarter 2017
PDF
First Quarter 2017
 
2016
PDF
Fourth Quarter 2016
PDF
Third Quarter 2016
PDF
Second Quarter 2016
PDF
First Quarter 2016
 
2015
PDF
Fourth Quarter 2015
PDF
Third Quarter 2015
PDF
Second Quarter 2015
PDF
First Quarter 2015
 
2014
PDF
Fourth Quarter 2014
PDF
Third Quarter 2014
PDF
Second Quarter 2014
PDF
First Quarter 2014
 
2013
PDF
Fourth Quarter 2013
PDF
Third Quarter 2013
PDF
Second Quarter 2013
PDF
First Quarter 2013
2012
PDF
Fourth Quarter 2012
PDF
Third Quarter 2012
PDF
Second Quarter 2012
PDF
First Quarter 2012
2011
PDF
Fourth Quarter 2011
PDF
Third Quarter 2011
PDF
Second Quarter 2011
PDF
First Quarter 2011
2010
PDF
Fourth Quarter 2010
PDF
Third Quarter 2010
PDF
Second Quarter 2010
PDF
First Quarter 2010
2009
PDF
Fourth Quarter 2009
PDF
Third Quarter 2009
PDF
Second Quarter 2009
PDF
First Quarter 2009
2008
PDF
Fourth Quarter 2008
PDF
Third Quarter 2008
PDF
Second Quarter 2008
PDF
First Quarter 2008
2004 – 2007
PDF
Fourth Quarter 2007
PDF
Third Quarter 2005
PDF
Fourth Quarter 2004