PDF Archive

Browse and access all 69 shareholder letters from Warren Buffett, spanning the Partnership era (1956–1969) to the present day. Each link opens the official letter on the Berkshire Hathaway website.

P

Partnership Letters

16 letters — 1956 to 1969

1956The Partnership Agreement - 1956Read Online
1957The First Year - 1957Read Online
1958The Year of the Recession - 1958Read Online
1959The Year of Euphoria - 1959Read Online
1960The Year of Contradiction - 1960Read Online
1961Semi-Annual Letter — July 1961Read Online
1961The Final Full Year - 1961Read Online
1962The Partnership's Best Year - 1962Read Online
1963The Year of Unisuper and American Express - 1963Read Online
1964The Year of Discipline - 1964Read Online
1965The Berkshire Hathaway Takeover - 1965Read Online
1966The Year of Caution - 1966Read Online
1967The Final Partnership Letter - 1967Read Online
1968The Year of the Auction - 1968Read Online
1969The Year of Change - 1969Read Online
1970The Final Year - 1970Read Online
B

Berkshire Hathaway Letters

53 letters — 1965 to 2025

1977The Moat Speech - 1977Read Online
1985The Textile Exit & Quality Companies - 1985Read Online
1986Coca-Cola & Annual Meeting Tradition - 1986Read Online
1987The Crash - 1987Read Online
1988Coca-Cola & Federal Home Loan Bank - 1988Read Online
1996The Circle of Competence - 1996Read Online
2005GEICO's Transformation & The Hurricane Test - 2005Read Online
2008The Financial Crisis - 2008Read Online
2016The Apple Investment & Elephant Hunt - 2016Read Online
2020The Pandemic Year - 2020Read Online
2025Gregory Abel's First Letter - 2025Read Online
1978Steady Progress - 1978Read Online
1979Diversified Strength - 1979Read Online
1980Patient Capital - 1980Read Online
1981Strategic Positioning - 1981Read Online
1982Capital Allocation - 1982Read Online
1983Franchise Value - 1983Read Online
1984The Wide Moat - 1984Read Online
1989Insurance Float - 1989Read Online
1990Recession Navigation - 1990Read Online
1991Resilience - 1991Read Online
1992Durable Advantages - 1992Read Online
1993Quality at Reasonable Price - 1993Read Online
1994Patient Capital - 1994Read Online
1995The GEICO Transformation - 1995Read Online
1997Strong Performance - 1997Read Online
1998Global Expansion - 1998Read Online
2000Dot-Com Reckoning - 2000Read Online
2001Resilience After Crisis - 2001Read Online
2002Financial Strength - 2002Read Online
2003Economic Recovery - 2003Read Online
2004Solid Progress - 2004Read Online
2006Strong Performance - 2006Read Online
2007Excellent Results - 2007Read Online
2009Crisis Navigation - 2009Read Online
2010Recovery Year - 2010Read Online
2011Continued Progress - 2011Read Online
2013Annual Letter - 2013Read Online
2014Annual Letter - 2014Read Online
2015Annual Letter - 2015Read Online
2017Annual Letter - 2017Read Online
2018Annual Letter - 2018Read Online
2019Annual Letter - 2019Read Online
2021Annual Letter - 2021Read Online
2022Annual Letter - 2022Read Online
2023Annual Letter - 2023Read Online
2024Annual Letter - 2024Read Online
1971Year of Transition - 1971Read Online
1972Building Foundations - 1972Read Online
1973Weathering the Storm - 1973Read Online
1974Patience Pays - 1974Read Online
1975Finding Opportunities - 1975Read Online
1976Rising from the Asches - 1976Read Online
S

Special Letters

0 milestone letters

About the Archive

All letters are hosted on the official Berkshire Hathaway website (berkshirehathaway.com). This archive provides curated metadata, cross-references, and analysis tools. For offline access, you may visit the official letters page directly.