Annual & Interim Notes
Annual Note
January 8, 2026
Open
3rd Quarter Note
October 5, 2025
Open
Historical Book Value per Share
| Period End |
BVPS |
Change1 |
| 2025 |
$22.08 |
26.2 |
| 3rd Quarter |
21.36 |
4.3 |
| 2nd Quarter |
20.47 |
9.0 |
| 1st Quarter |
18.78 |
7.4 |
| 2024 |
$17.49 |
33.0 |
| 3rd Quarter |
17.70 |
4.6 |
| 2nd Quarter |
16.92 |
0.5 |
| 1st Quarter |
16.83 |
27.9 |
| 2023 |
$13.15 |
49.4 |
| 3rd Quarter |
12.10 |
2.3
|
| 2nd Quarter |
12.38 |
27.9 |
| 1st Quarter |
9.67 |
9.9 |
| 2022 |
$8.80 |
— |
Archived Memos & Scribbles
The "Art" of Investing
January 18, 2026
Archived
Point and Shoot
December 31, 2025
Archived
