12% annual returns (net of fees) is the "Great Divide." Most struggle to beat the S&P 500. These 20 funds consistently hit that mark and, along the way, write impeccable investor letters. The ultimate fund letters shortlist👇 1) Praetorian Capital - @hkuppy 2) Gator Capital - @gatorcapital 3) Hayden Capital - @HaydenCapital 4) Laughing Water Capital - @LaughingH20Cap 5) Fairlight Capital - @Fairlight_Cap 6) Kingdom Capital Advisors - @kingdomcapadv 7) Atai Capital - @AtaiCapital 8) Merion Road Capital - @aaronjsallen 9) LVS Advisory (Growth Fund) - @LuisVSanchez777 10) Greystone Capital - @GreystoneCap 11) VOSS Capital - @CapitalVoss 12) Alluvial Capital - @alluvialcapital 13) SRK Capital - @CaptnKirk13 14) Silver Beech - @JamesHollier24 15) Sohra Peak Partners - @JonCukierwar 16) Crossroads Capital - @CrossroadsOnX 17) Saltlight Capital - @davideborall 18) Cedar Creek Partners - @eriksen_tim 19) Rewey Asset Management 20) Greenlight Capital Selection Criterion: 12% minimum CAGR since inception. Ranking: None. The list order is randomized and does not reflect relative performance.

Interesting pitch on $FLYW by @CapitalVoss Capital-light, high-margin cross-border payments platform mispriced as a secular decliner. With 20%+ growth outside temp visa-hit markets and growing SaaS sales at just 2x sales. Potential multi-bagger on macro normalization.