Been reading a lot of shareholder letters recently. My personal Hall of Fame letters:

Amazon 1997 letter https://s2.q4cdn.com/299287126/files/doc_financials/annual/Shareholderletter97.pdf

XPO Logistics 2019 letter
Brad Jacobs: I’m a bull in the mid-term and a mega-bull in the long-term.
https://investors.xpo.com/static-files/3e6feacf-2c62-4c9e-b767-57b557a9e86f

Copart 2006 letter $CPRT https://www.copart.com/content/2006%20copart%20annual%20report.pdf

Intuitive Surgical 2007 letter $ISRG https://www.annualreports.com/HostedData/AnnualReportArchive/i/NASDAQ_ISRG_2007.pdf

RH 2019 letter $rh https://www.sec.gov/Archives/edgar/data/1528849/000119312519176566/d727889ddef14a.htm

Bank One 2000 letter https://www.dropbox.com/s/720bqdqaf9gsn5f/2000_ar.pdf?dl=0

Nike 1981 letter $nke https://s1.q4cdn.com/806093406/files/doc_financials/1981/1981%20annual%20report.pdf

And Reed Hastings pitching readers of his 2002 shareholder letter to try Netflix subscription is something you don't see often https://s22.q4cdn.com/959853165/files/doc_financials/annual_reports/2002AR-print.pdf

To summarize my findings: most of the shareholder letters are either outright garbage or some boilerplate stuff. But there are gems as well, which are although rare, but worth looking for.

BTW if you're doing something similar pls DM me, as I'm overwhelmed with this project TBH