According to @QCompounding, a downloadable PDF compiling all Howard Marks shareholder letters is available at compounding-quality.kit.com/94f33f0862 (source: @QCompounding tweet on Dec 20, 2025; source: compounding-quality.kit.com/94f33f0862). Traders can use this consolidated archive as a single reference to review Marks’ shareholder letters when conducting macro and risk research across equities, credit, and digital assets (source: @QCompounding tweet sharing the archive; source: compounding-quality.kit.com/94f33f0862).