The one that immediately comes to mind is Renaissance Technologies, which averaged a nearly 72% annual return between 1994 and 2014.[1] This is a 20 year term, during which the S&amp;P 500&#x27;s average annual return was 7%.<p>Seth Klarman&#x27;s Baupost Group averaged a 20% return between its founding in 1982 and 2015.[2] This is a 33 year term, during which the S&amp;P 500&#x27;s average annual return was 8.8%.<p>Average annual return is not the whole picture (i.e. it is theoretically possible to have a phenomenal single year and mediocre performance for 9 years and thus beat the S&amp;P 500 over a 10 year period) and there are other examples, but these should suffice.<p>[1]: <a href="http:&#x2F;&#x2F;www.bloomberg.com&#x2F;news&#x2F;articles&#x2F;2015-06-16&#x2F;how-an-exclusive-hedge-fund-turbocharged-retirement-plan" rel="nofollow">http:&#x2F;&#x2F;www.bloomberg.com&#x2F;news&#x2F;articles&#x2F;2015-06-16&#x2F;how-an-exc...</a><p>[2]: <a href="http:&#x2F;&#x2F;www.octafinance.com&#x2F;hedge-funds&#x2F;seth-klarman-baupost-group&#x2F;" rel="nofollow">http:&#x2F;&#x2F;www.octafinance.com&#x2F;hedge-funds&#x2F;seth-klarman-baupost-...</a>