<?xml version='1.0' encoding='UTF-8'?><urlset xmlns="http://www.sitemaps.org/schemas/sitemap/0.9" xmlns:video="http://www.google.com/schemas/sitemap-video/1.1" xmlns:image="http://www.google.com/schemas/sitemap-image/1.1"><url><loc>https://www.broyhillasset.com/broyhill-blog/2016/04/16/rum-reading</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/rum.jpg</image:loc><image:caption>rum</image:caption><image:title>rum</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/That%20will%20never%20work.jpg</image:loc><image:caption>That will never work</image:caption><image:title>That will never work</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/Jamaica-1.jpg</image:loc><image:caption>Jamaica-1</image:caption><image:title>Jamaica-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/day%20two.jpg</image:loc><image:caption>day two</image:caption><image:title>day two</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/Coconut.jpg</image:loc><image:caption>Coconut</image:caption><image:title>Coconut</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Feedback%20Guidelines-2.jpg</image:loc><image:caption>Feedback Guidelines-2</image:caption><image:title>Feedback Guidelines-2</image:title></image:image><lastmod>2023-08-31</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/equity-highlights-september-2023</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/IMG_3818.jpeg</image:loc><image:caption>IMG_3818</image:caption><image:title>IMG_3818</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/02.2024%20EH.jpg</image:loc><image:caption>02.2024 EH</image:caption><image:title>02.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/09.2024%20EH.jpg</image:loc><image:caption>09.2024 EH</image:caption><image:title>09.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/9.2023%20EH.jpg</image:loc><image:caption>9.2023 EH</image:caption><image:title>9.2023 EH</image:title></image:image><lastmod>2023-11-02</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/2019/08/13/storytelling-with-data</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Octopus%20and%20the%20Shark.jpg</image:loc><image:caption>Octopus and the Shark</image:caption><image:title>Octopus and the Shark</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Feedback%20Guidelines-2.jpg</image:loc><image:caption>Feedback Guidelines-2</image:caption><image:title>Feedback Guidelines-2</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/That%20will%20never%20work.jpg</image:loc><image:caption>That will never work</image:caption><image:title>That will never work</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/storytelling%20w%20data-1.jpg</image:loc><image:caption>storytelling w data-1</image:caption><image:title>storytelling w data-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Storytelling%20w%20data%20first%20page.png</image:loc><image:caption>Storytelling w data first page</image:caption><image:title>Storytelling w data first page</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><lastmod>2024-08-22</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/the-broyhill-letter-2022q2</loc><lastmod>2024-03-05</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/the-broyhill-letter-2023q4</loc><lastmod>2024-03-05</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/equity-highlights-february-2024</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/09.2024%20EH.jpg</image:loc><image:caption>09.2024 EH</image:caption><image:title>09.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/7.2024%20EH-1.jpg</image:loc><image:caption>7.2024 EH-1</image:caption><image:title>7.2024 EH-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/IMG_3818.jpeg</image:loc><image:caption>IMG_3818</image:caption><image:title>IMG_3818</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/02.2024%20EH.jpg</image:loc><image:caption>02.2024 EH</image:caption><image:title>02.2024 EH</image:title></image:image><lastmod>2024-02-29</lastmod></url><url><loc>https://www.broyhillasset.com/subscribe-now</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><lastmod>2023-08-31</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/pm-its-boomer-time</loc><lastmod>2024-03-05</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/coca-cola-femsa-thesis</loc><lastmod>2024-03-06</lastmod></url><url><loc>https://www.broyhillasset.com/resources</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Tobacco%20Update-1.jpg</image:loc><image:caption>Tobacco Update-1</image:caption><image:title>Tobacco Update-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2025.Q1%20BE%20Letter.png</image:loc><image:caption>2025.Q1 BE Letter</image:caption><image:title>2025.Q1 BE Letter</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill%20letter%202021.Q2.jpg</image:loc><image:caption>Broyhill letter 2021.Q2</image:caption><image:title>Broyhill letter 2021.Q2</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Schroders%202024.png</image:loc><image:caption>Schroders 2024</image:caption><image:title>Schroders 2024</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/UMG.png</image:loc><image:caption>UMG</image:caption><image:title>UMG</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/groove%20back.jpg</image:loc><image:caption>groove back</image:caption><image:title>groove back</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill%20letter%202021.Q4.jpg</image:loc><image:caption>Broyhill letter 2021.Q4</image:caption><image:title>Broyhill letter 2021.Q4</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill%20letter%202020.Q4.png</image:loc><image:caption>Broyhill letter 2020.Q4</image:caption><image:title>Broyhill letter 2020.Q4</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Letter%20Highlights.png</image:loc><image:caption>Letter Highlights</image:caption><image:title>Letter Highlights</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill%20letter%202023.Q2.jpg</image:loc><image:caption>Broyhill letter 2023.Q2</image:caption><image:title>Broyhill letter 2023.Q2</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2025.Q2%20BE%20Letter.png</image:loc><image:caption>2025.Q2 BE Letter</image:caption><image:title>2025.Q2 BE Letter</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Charlotte%20Business%20Journal.png</image:loc><image:caption>Charlotte Business Journal</image:caption><image:title>Charlotte Business Journal</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/The%20Broyhill%20Letter%202015.04.png</image:loc><image:caption>The Broyhill Letter 2015.04</image:caption><image:title>The Broyhill Letter 2015.04</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Obesity.jpg</image:loc><image:caption>Obesity</image:caption><image:title>Obesity</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/The%20Broyhill%20Letter%202023.Q4-1.png</image:loc><image:caption>The Broyhill Letter 2023.Q4-1</image:caption><image:title>The Broyhill Letter 2023.Q4-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/KOF%20Thesis.png</image:loc><image:caption>KOF Thesis</image:caption><image:title>KOF Thesis</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/Yet%20Another%20Value%20Podcast%20AVTR2.jpg</image:loc><image:caption>Yet Another Value Podcast AVTR2</image:caption><image:title>Yet Another Value Podcast AVTR2</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2024.09%20Broyhill%20Investor%20Call%20-%20Equal%20Opportunities.png</image:loc><image:caption>2024.09 Broyhill Investor Call - Equal Opportunities</image:caption><image:title>2024.09 Broyhill Investor Call - Equal Opportunities</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/News.png</image:loc><image:caption>News</image:caption><image:title>News</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/fisv.png</image:loc><image:caption>fisv</image:caption><image:title>fisv</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/JRo%20Show%20Image.jpg</image:loc><image:caption>JRo Show Image</image:caption><image:title>JRo Show Image</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2024.09%20SIH%23380.png</image:loc><image:caption>2024.09 SIH#380</image:caption><image:title>2024.09 SIH#380</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Storytelling%20with%20Data%20website%20image.jpg</image:loc><image:caption>Storytelling with Data website image</image:caption><image:title>Storytelling with Data website image</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill%20Insights-1.png</image:loc><image:caption>Broyhill Insights-1</image:caption><image:title>Broyhill Insights-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Behind%20the%20balance%20sheet.png</image:loc><image:caption>Behind the balance sheet</image:caption><image:title>Behind the balance sheet</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/picks%20and%20shovels.jpg</image:loc><image:caption>picks and shovels</image:caption><image:title>picks and shovels</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2024.Q3%20BE%20Letter.png</image:loc><image:caption>2024.Q3 BE Letter</image:caption><image:title>2024.Q3 BE Letter</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Tobacco%20ESG.png</image:loc><image:caption>Tobacco ESG</image:caption><image:title>Tobacco ESG</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/VII%202023.png</image:loc><image:caption>VII 2023</image:caption><image:title>VII 2023</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill%20letter%202023.Q4.png</image:loc><image:caption>Broyhill letter 2023.Q4</image:caption><image:title>Broyhill letter 2023.Q4</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2024.Q2%20BE%20Letter.png</image:loc><image:caption>2024.Q2 BE Letter</image:caption><image:title>2024.Q2 BE Letter</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill%20letter%202023.Q3.jpg</image:loc><image:caption>Broyhill letter 2023.Q3</image:caption><image:title>Broyhill letter 2023.Q3</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/AI%20Insanity.png</image:loc><image:caption>AI Insanity</image:caption><image:title>AI Insanity</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/AVTR%20Grants%20202509%20Problem%20Childs%20Redemption.png</image:loc><image:caption>AVTR Grants 202509 Problem Childs Redemption</image:caption><image:title>AVTR Grants 202509 Problem Childs Redemption</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill%20letter%202022.Q2.jpg</image:loc><image:caption>Broyhill letter 2022.Q2</image:caption><image:title>Broyhill letter 2022.Q2</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Value%20After%20Hours.png</image:loc><image:caption>Value After Hours</image:caption><image:title>Value After Hours</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Boomer%20Time-1.png</image:loc><image:caption>Boomer Time-1</image:caption><image:title>Boomer Time-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill%20letter%202024.Q1.jpg</image:loc><image:caption>Broyhill letter 2024.Q1</image:caption><image:title>Broyhill letter 2024.Q1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill%20letter%202020.Q2.png</image:loc><image:caption>Broyhill letter 2020.Q2</image:caption><image:title>Broyhill letter 2020.Q2</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Cityscape.png</image:loc><image:caption>Cityscape</image:caption><image:title>Cityscape</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/TWX%20Thesis.png</image:loc><image:caption>TWX Thesis</image:caption><image:title>TWX Thesis</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2024.Q4%20BE%20Letter.png</image:loc><image:caption>2024.Q4 BE Letter</image:caption><image:title>2024.Q4 BE Letter</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/herd%20mentality.png</image:loc><image:caption>herd mentality</image:caption><image:title>herd mentality</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Undervalued%20Shared%20-%20Asymmetry%20and%20Mispricing.jpg</image:loc><image:caption>Undervalued Shared - Asymmetry and Mispricing</image:caption><image:title>Undervalued Shared - Asymmetry and Mispricing</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/press%20release.jpg</image:loc><image:caption>press release</image:caption><image:title>press release</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Investing%20by%20Design.png</image:loc><image:caption>Investing by Design</image:caption><image:title>Investing by Design</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/ThePompPodcast_1438.png</image:loc><image:caption>ThePompPodcast_1438</image:caption><image:title>ThePompPodcast_1438</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Airports.png</image:loc><image:caption>Airports</image:caption><image:title>Airports</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/ATVI%20Update.jpg</image:loc><image:caption>ATVI Update</image:caption><image:title>ATVI Update</image:title></image:image><lastmod>2023-08-30</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/value-investing-is-still-possible-in-todays-bloated-market</loc><lastmod>2024-09-27</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/the-broyhill-letter-q4-2022</loc><lastmod>2024-03-05</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/broyhill-letter-highlights-viii-humility</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Passive%20Investing.png</image:loc><image:caption>Passive Investing</image:caption><image:title>Passive Investing</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/this%20time%20is%20different-1.png</image:loc><image:caption>this time is different-1</image:caption><image:title>this time is different-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/agressive%20vs%20defensive-1.png</image:loc><image:caption>agressive vs defensive-1</image:caption><image:title>agressive vs 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3b-1</image:title></image:image><lastmod>2023-08-31</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/charlotte-business-journal-broyhill-independent-and-ambitious</loc><lastmod>2024-11-14</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/2013/07/12/elementary-wisdom</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Elementary%20Wisdom-1.jpg</image:loc><image:caption>Elementary Wisdom-1</image:caption><image:title>Elementary 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time is different-1</image:caption><image:title>this time is different-1</image:title></image:image><lastmod>2023-08-31</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/equity-highlights-february-2024-0-0-0-0-0-0-0</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/08.2024%20EH.jpg</image:loc><image:caption>08.2024 EH</image:caption><image:title>08.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/04.2024%20EH.jpg</image:loc><image:caption>04.2024 EH</image:caption><image:title>04.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/7.2024%20EH-1.jpg</image:loc><image:caption>7.2024 EH-1</image:caption><image:title>7.2024 EH-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/10.2024%20EH.jpg</image:loc><image:caption>10.2024 EH</image:caption><image:title>10.2024 EH</image:title></image:image><lastmod>2024-10-16</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/2015/10/06/value-investing-podcast-with-sherlock-holmes</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/trust%20the%20process.png</image:loc><image:caption>trust the process</image:caption><image:title>trust the process</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/capitalizing%20on%20human%20nature.png</image:loc><image:caption>capitalizing on human nature</image:caption><image:title>capitalizing on human nature</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Lessons%20From%20History.png</image:loc><image:caption>Lessons From History</image:caption><image:title>Lessons From 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porn 3b-1</image:caption><image:title>Graphic porn 3b-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/3-238x300.png</image:loc><image:caption>3-238x300</image:caption><image:title>3-238x300</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/1-300x229.png</image:loc><image:caption>1-300x229</image:caption><image:title>1-300x229</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Graphic%20porn%202-3.png</image:loc><image:caption>Graphic porn 2-3</image:caption><image:title>Graphic porn 2-3</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Graphic%20Porn%204-1.png</image:loc><image:caption>Graphic Porn 4-1</image:caption><image:title>Graphic Porn 4-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Graphic%20porn%201.png</image:loc><image:caption>Graphic porn 1</image:caption><image:title>Graphic porn 1</image:title></image:image><lastmod>2024-05-06</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/equity-highlights-august-2025</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2025.07%20Equity%20Highlights.png</image:loc><image:caption>2025.07 Equity Highlights</image:caption><image:title>2025.07 Equity 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EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2025.08%20Equity%20Highlights.png</image:loc><image:caption>2025.08 Equity Highlights</image:caption><image:title>2025.08 Equity Highlights</image:title></image:image><lastmod>2025-08-26</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/2011/01/07/adequate-diversification</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/adequate%20diversification.jpg</image:loc><image:caption>adequate diversification</image:caption><image:title>adequate diversification</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Our%20Differentiation-2.png</image:loc><image:caption>Our Differentiation-2</image:caption><image:title>Our Differentiation-2</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Revenge%20of%20the%20nerds%204x4-3.png</image:loc><image:caption>Revenge of the nerds 4x4-3</image:caption><image:title>Revenge of the nerds 4x4-3</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Lessons%20From%20History.png</image:loc><image:caption>Lessons From History</image:caption><image:title>Lessons From 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process</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/A%20good%20ball%20to%20hit.png</image:loc><image:caption>A good ball to hit</image:caption><image:title>A good ball to hit</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/Superforecasting-Portrait-1024x766.png</image:loc><image:caption>Superforecasting-Portrait-1024x766</image:caption><image:title>Superforecasting-Portrait-1024x766</image:title></image:image><lastmod>2023-08-31</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/time-warner-inc-thesis</loc><lastmod>2024-03-05</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/2015/11/17/managing-a-creative-culture</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/kindergarten.png</image:loc><image:caption>kindergarten</image:caption><image:title>kindergarten</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/creative%20culture.jpg</image:loc><image:caption>creative culture</image:caption><image:title>creative culture</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/Pixar-Way_002.jpg</image:loc><image:caption>Pixar-Way_002</image:caption><image:title>Pixar-Way_002</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/Father-Forgets-1024x897.jpg</image:loc><image:caption>Father-Forgets-1024x897</image:caption><image:title>Father-Forgets-1024x897</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/Pixar-Way_006.jpg</image:loc><image:caption>Pixar-Way_006</image:caption><image:title>Pixar-Way_006</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Leadership%20Principles4.jpg</image:loc><image:caption>Leadership 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Brown</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Icon%202-%20Brown.png</image:loc><image:caption>Icon 2- Brown</image:caption><image:title>Icon 2- Brown</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Icon%201-%20Brown.png</image:loc><image:caption>Icon 1- Brown</image:caption><image:title>Icon 1- Brown</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Icon%204-%20Brown.png</image:loc><image:caption>Icon 4- Brown</image:caption><image:title>Icon 4- Brown</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/WOSG%20Thesis_BestOfBroyhill_Image.png</image:loc><image:caption>WOSG Thesis_BestOfBroyhill_Image</image:caption><image:title>WOSG 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bbc</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/A528D78C-3664-4C41-A644-679A4A988AE8.jpg</image:loc><image:caption>A528D78C-3664-4C41-A644-679A4A988AE8</image:caption><image:title>A528D78C-3664-4C41-A644-679A4A988AE8</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Obesity.jpg</image:loc><image:caption>Obesity</image:caption><image:title>Obesity</image:title></image:image><lastmod>2026-03-09</lastmod></url><url><loc>https://www.broyhillasset.com/jim-watson-0</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Full-Art-FInal-Versions-Jim.jpg</image:loc><image:caption>Full-Art-FInal-Versions-Jim</image:caption><image:title>Full-Art-FInal-Versions-Jim</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><lastmod>2025-07-14</lastmod></url><url><loc>https://www.broyhillasset.com/andrea-sefler</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/andrea.jpg</image:loc><image:caption>andrea</image:caption><image:title>andrea</image:title></image:image><lastmod>2025-07-14</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/equity-highlights-april-2026</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Illustration_6x4_FinalVersions_Patrick_v3.jpg</image:loc><image:caption>Illustration_6x4_FinalVersions_Patrick_v3</image:caption><image:title>Illustration_6x4_FinalVersions_Patrick_v3</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Our%20Edge-1.png</image:loc><image:caption>Our Edge-1</image:caption><image:title>Our Edge-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Downside%20Protection.png</image:loc><image:caption>Downside Protection</image:caption><image:title>Downside Protection</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Lessons%20From%20History.png</image:loc><image:caption>Lessons From History</image:caption><image:title>Lessons From History</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/04.2026%20EH.png</image:loc><image:caption>04.2026 EH</image:caption><image:title>04.2026 EH</image:title></image:image><lastmod>2026-04-21</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/story_telling_with_data</loc><lastmod>2024-08-22</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/2021/04/15/the-octopus-and-the-shark</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Octopus%20and%20the%20Shark.jpg</image:loc><image:caption>Octopus and the Shark</image:caption><image:title>Octopus and the Shark</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Revenge%20of%20the%20nerds%204x4-3.png</image:loc><image:caption>Revenge of the nerds 4x4-3</image:caption><image:title>Revenge of the nerds 4x4-3</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/That%20will%20never%20work.jpg</image:loc><image:caption>That will never work</image:caption><image:title>That will never work</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/octopus-and-shark-photo-2.jpg</image:loc><image:caption>octopus-and-shark-photo-2</image:caption><image:title>octopus-and-shark-photo-2</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Pschology%20of%20bubbles-1.png</image:loc><image:caption>Pschology of bubbles-1</image:caption><image:title>Pschology of bubbles-1</image:title></image:image><lastmod>2023-08-31</lastmod></url><url><loc>https://www.broyhillasset.com/chris-pavese</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Revenge%20of%20the%20nerds%204x4-3.png</image:loc><image:caption>Revenge of the nerds 4x4-3</image:caption><image:title>Revenge of the nerds 4x4-3</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Passive%20Investing.png</image:loc><image:caption>Passive Investing</image:caption><image:title>Passive Investing</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/A%20good%20ball%20to%20hit.png</image:loc><image:caption>A good ball to hit</image:caption><image:title>A good ball to hit</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/chris-Aug-30-2023-06-16-42-0605-PM.jpg</image:loc><image:caption>chris-Aug-30-2023-06-16-42-0605-PM</image:caption><image:title>chris-Aug-30-2023-06-16-42-0605-PM</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/this%20time%20is%20different-1.png</image:loc><image:caption>this time is different-1</image:caption><image:title>this time is different-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Lessons%20From%20History.png</image:loc><image:caption>Lessons From History</image:caption><image:title>Lessons From History</image:title></image:image><lastmod>2025-07-14</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/equity-highlights-february-2024-0</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/04.2024%20EH.jpg</image:loc><image:caption>04.2024 EH</image:caption><image:title>04.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/08.2024%20EH.jpg</image:loc><image:caption>08.2024 EH</image:caption><image:title>08.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/05.2024%20EH.jpg</image:loc><image:caption>05.2024 EH</image:caption><image:title>05.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/7.2024%20EH-1.jpg</image:loc><image:caption>7.2024 EH-1</image:caption><image:title>7.2024 EH-1</image:title></image:image><lastmod>2024-04-18</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/broyhill-tobacco-update-202104</loc><lastmod>2024-03-05</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/broyhill-letter-highlights-xii-passive-investing</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/agressive%20vs%20defensive-1.png</image:loc><image:caption>agressive vs defensive-1</image:caption><image:title>agressive vs defensive-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/humility.png</image:loc><image:caption>humility</image:caption><image:title>humility</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Passive%20Investing.png</image:loc><image:caption>Passive Investing</image:caption><image:title>Passive Investing</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Time%20Arbitrage.png</image:loc><image:caption>Time Arbitrage</image:caption><image:title>Time Arbitrage</image:title></image:image><lastmod>2024-01-18</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/2016/07/17/emperors-three-questions</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/Table-Rock.jpg</image:loc><image:caption>Table-Rock</image:caption><image:title>Table-Rock</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/emperor.jpg</image:loc><image:caption>emperor</image:caption><image:title>emperor</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/bruce%20wayne.jpg</image:loc><image:caption>bruce wayne</image:caption><image:title>bruce wayne</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/Holmes.jpg</image:loc><image:caption>Holmes</image:caption><image:title>Holmes</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Elementary%20Wisdom-1.jpg</image:loc><image:caption>Elementary Wisdom-1</image:caption><image:title>Elementary Wisdom-1</image:title></image:image><lastmod>2023-08-31</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/the-broyhill-letter-2021q4</loc><lastmod>2024-03-05</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/the-broyhill-letter-2026.q</loc><lastmod>2026-09-02</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/2014/08/10/the-outsiders-capital-surgeons</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Revenge%20of%20the%20nerds%204x4-3.png</image:loc><image:caption>Revenge of the nerds 4x4-3</image:caption><image:title>Revenge of the nerds 4x4-3</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/Outsiders.jpg</image:loc><image:caption>Outsiders</image:caption><image:title>Outsiders</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/agressive%20vs%20defensive-1.png</image:loc><image:caption>agressive vs defensive-1</image:caption><image:title>agressive vs defensive-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Time%20Arbitrage.png</image:loc><image:caption>Time Arbitrage</image:caption><image:title>Time Arbitrage</image:title></image:image><lastmod>2023-08-31</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/broyhill-letter-highlights-xiii-revenge-of-the-nerds</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/capitalizing%20on%20human%20nature.png</image:loc><image:caption>capitalizing on human nature</image:caption><image:title>capitalizing on human nature</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Time%20Arbitrage.png</image:loc><image:caption>Time Arbitrage</image:caption><image:title>Time Arbitrage</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Revenge%20of%20the%20nerds%204x4-3.png</image:loc><image:caption>Revenge of the nerds 4x4-3</image:caption><image:title>Revenge of the nerds 4x4-3</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Passive%20Investing.png</image:loc><image:caption>Passive Investing</image:caption><image:title>Passive Investing</image:title></image:image><lastmod>2024-06-07</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/equity-highlights-january-2026</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2025.11%20EHv2-1.png</image:loc><image:caption>2025.11 EHv2-1</image:caption><image:title>2025.11 EHv2-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/05.2024%20EH.jpg</image:loc><image:caption>05.2024 EH</image:caption><image:title>05.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2025.08%20Equity%20Highlights.png</image:loc><image:caption>2025.08 Equity Highlights</image:caption><image:title>2025.08 Equity Highlights</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Illustration_6x4_FinalVersions_Patrick_v3.jpg</image:loc><image:caption>Illustration_6x4_FinalVersions_Patrick_v3</image:caption><image:title>Illustration_6x4_FinalVersions_Patrick_v3</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2026.01%20EH.png</image:loc><image:caption>2026.01 EH</image:caption><image:title>2026.01 EH</image:title></image:image><lastmod>2026-01-16</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/the-broyhill-letter-201504</loc><lastmod>2024-03-05</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/2021/04/29/that-will-never-work</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/Picture1.jpg</image:loc><image:caption>Picture1</image:caption><image:title>Picture1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Fear%20and%20Panic.jpg</image:loc><image:caption>Fear and Panic</image:caption><image:title>Fear and Panic</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Octopus%20and%20the%20Shark.jpg</image:loc><image:caption>Octopus and the Shark</image:caption><image:title>Octopus and the Shark</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/That%20will%20never%20work.jpg</image:loc><image:caption>That will never work</image:caption><image:title>That will never work</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Feedback%20Guidelines-2.jpg</image:loc><image:caption>Feedback Guidelines-2</image:caption><image:title>Feedback 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hit</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><lastmod>2023-12-13</lastmod></url><url><loc>https://www.broyhillasset.com/subscribe-now-0</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2024%20bbc.png</image:loc><image:caption>2024 bbc</image:caption><image:title>2024 bbc</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill%20Insights-1.png</image:loc><image:caption>Broyhill Insights-1</image:caption><image:title>Broyhill Insights-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/ATVI%20Update-1.jpg</image:loc><image:caption>ATVI Update-1</image:caption><image:title>ATVI Update-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/UMG.png</image:loc><image:caption>UMG</image:caption><image:title>UMG</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill%20letter%202023.Q2.jpg</image:loc><image:caption>Broyhill letter 2023.Q2</image:caption><image:title>Broyhill letter 2023.Q2</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Investing%20by%20Design.png</image:loc><image:caption>Investing by Design</image:caption><image:title>Investing by Design</image:title></image:image><lastmod>2025-07-09</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/2017/09/26/day-two</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Octopus%20and%20the%20Shark.jpg</image:loc><image:caption>Octopus and the Shark</image:caption><image:title>Octopus and the Shark</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2025.11%20EHv2-1.png</image:loc><image:caption>2025.11 EHv2-1</image:caption><image:title>2025.11 EHv2-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/Potholes.jpg</image:loc><image:caption>Potholes</image:caption><image:title>Potholes</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/12.2024%20EH.jpg</image:loc><image:caption>12.2024 EH</image:caption><image:title>12.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/day%20two.jpg</image:loc><image:caption>day two</image:caption><image:title>day two</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/Day-Two.jpg</image:loc><image:caption>Day-Two</image:caption><image:title>Day-Two</image:title></image:image><lastmod>2023-08-31</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/broyhill-letter-highlights-ix-trust-the-process</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Pschology%20of%20bubbles-1.png</image:loc><image:caption>Pschology of bubbles-1</image:caption><image:title>Pschology of bubbles-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/capitalizing%20on%20human%20nature.png</image:loc><image:caption>capitalizing on human nature</image:caption><image:title>capitalizing on human nature</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/trust%20the%20process.png</image:loc><image:caption>trust the process</image:caption><image:title>trust the process</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Passive%20Investing.png</image:loc><image:caption>Passive Investing</image:caption><image:title>Passive 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Arbitrage</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Our%20Edge-1.png</image:loc><image:caption>Our Edge-1</image:caption><image:title>Our Edge-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Downside%20Protection.png</image:loc><image:caption>Downside Protection</image:caption><image:title>Downside 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human nature</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Passive%20Investing.png</image:loc><image:caption>Passive Investing</image:caption><image:title>Passive Investing</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/trust%20the%20process.png</image:loc><image:caption>trust the process</image:caption><image:title>trust the process</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Revenge%20of%20the%20nerds%204x4-3.png</image:loc><image:caption>Revenge of the nerds 4x4-3</image:caption><image:title>Revenge of the nerds 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EH_9</image:caption><image:title>03.2026 EH_9</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/08.2024%20EH.jpg</image:loc><image:caption>08.2024 EH</image:caption><image:title>08.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/IMG_3818.jpeg</image:loc><image:caption>IMG_3818</image:caption><image:title>IMG_3818</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2025.07%20Equity%20Highlights.png</image:loc><image:caption>2025.07 Equity Highlights</image:caption><image:title>2025.07 Equity Highlights</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><lastmod>2026-04-15</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/the-broyhill-letter-2024.q3</loc><lastmod>2024-11-14</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/grants-on-wosg-time-to-buy</loc><lastmod>2026-05-07</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/broyhill-expands-team-with-new-coo-and-analyst</loc><lastmod>2025-07-15</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/broyhill-letter-highlights-x-this-time-is-different</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/this%20time%20is%20different-1.png</image:loc><image:caption>this time is different-1</image:caption><image:title>this time is different-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Passive%20Investing.png</image:loc><image:caption>Passive Investing</image:caption><image:title>Passive Investing</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/agressive%20vs%20defensive-1.png</image:loc><image:caption>agressive vs defensive-1</image:caption><image:title>agressive vs defensive-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/humility.png</image:loc><image:caption>humility</image:caption><image:title>humility</image:title></image:image><lastmod>2024-01-18</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/the-value-perspective-july2024</loc><lastmod>2024-07-08</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/equity-highlights-july-2026</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2025.09%20EH%20v4.png</image:loc><image:caption>2025.09 EH v4</image:caption><image:title>2025.09 EH v4</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Illustration_6x4_FinalVersions_Patrick_v3.jpg</image:loc><image:caption>Illustration_6x4_FinalVersions_Patrick_v3</image:caption><image:title>Illustration_6x4_FinalVersions_Patrick_v3</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2026.01%20EH.png</image:loc><image:caption>2026.01 EH</image:caption><image:title>2026.01 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/05.2026%20EH%20B.png</image:loc><image:caption>05.2026 EH B</image:caption><image:title>05.2026 EH B</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/07.2026%20EH.png</image:loc><image:caption>07.2026 EH</image:caption><image:title>07.2026 EH</image:title></image:image><lastmod>2026-07-09</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/broyhill-letter-highlights</loc><lastmod>2024-05-16</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/uncovering-value-eqc</loc><lastmod>2024-03-05</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/equity-highlights-february-2024-0-0</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/08.2024%20EH.jpg</image:loc><image:caption>08.2024 EH</image:caption><image:title>08.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/09.2024%20EH.jpg</image:loc><image:caption>09.2024 EH</image:caption><image:title>09.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/04.2024%20EH.jpg</image:loc><image:caption>04.2024 EH</image:caption><image:title>04.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/05.2024%20EH.jpg</image:loc><image:caption>05.2024 EH</image:caption><image:title>05.2024 EH</image:title></image:image><lastmod>2024-05-15</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/broyhill-investor-call-equal-opportunities</loc><lastmod>2024-09-16</lastmod></url><url><loc>https://www.broyhillasset.com/pam-reid</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/6x4%20Final%20Versions-Pam.jpg</image:loc><image:caption>6x4 Final Versions-Pam</image:caption><image:title>6x4 Final Versions-Pam</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><lastmod>2025-07-14</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/adg-710-pick-of-the-litter</loc><lastmod>2024-10-28</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/equity-highlights-february-2024-0-0-0-0-0-0</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/04.2024%20EH.jpg</image:loc><image:caption>04.2024 EH</image:caption><image:title>04.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/09.2024%20EH.jpg</image:loc><image:caption>09.2024 EH</image:caption><image:title>09.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/08.2024%20EH.jpg</image:loc><image:caption>08.2024 EH</image:caption><image:title>08.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/05.2024%20EH.jpg</image:loc><image:caption>05.2024 EH</image:caption><image:title>05.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><lastmod>2024-09-19</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/2013/11/28/leadership-principles</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Imported_Blog_Media/Father-Forgets-1024x897.jpg</image:loc><image:caption>Father-Forgets-1024x897</image:caption><image:title>Father-Forgets-1024x897</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Leadership%20Principles4.jpg</image:loc><image:caption>Leadership Principles4</image:caption><image:title>Leadership Principles4</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/kindergarten.png</image:loc><image:caption>kindergarten</image:caption><image:title>kindergarten</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/creative%20culture.jpg</image:loc><image:caption>creative culture</image:caption><image:title>creative culture</image:title></image:image><lastmod>2024-07-10</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/undervalued_shares_cp_on_asymmetry_and_mispricing</loc><lastmod>2024-09-26</lastmod></url><url><loc>https://www.broyhillasset.com/m-hunt-broyhill</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/hunt-3.jpg</image:loc><image:caption>hunt-3</image:caption><image:title>hunt-3</image:title></image:image><lastmod>2025-07-14</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/broyhill-letter-highlights-xiv-a-good-ball-to-hit</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/capitalizing%20on%20human%20nature.png</image:loc><image:caption>capitalizing on human nature</image:caption><image:title>capitalizing on human nature</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Time%20Arbitrage.png</image:loc><image:caption>Time Arbitrage</image:caption><image:title>Time Arbitrage</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Passive%20Investing.png</image:loc><image:caption>Passive Investing</image:caption><image:title>Passive Investing</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/A%20good%20ball%20to%20hit.png</image:loc><image:caption>A good ball to hit</image:caption><image:title>A good ball to hit</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><lastmod>2024-01-25</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/the-broyhill-letter-2025.q1</loc><lastmod>2025-05-14</lastmod></url><url><loc>https://www.broyhillasset.com/matt-mclean</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Full%20Artwork%20Version-Matt.jpg</image:loc><image:caption>Full Artwork Version-Matt</image:caption><image:title>Full Artwork Version-Matt</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><lastmod>2025-07-14</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/broyhill-investing-by-design</loc><lastmod>2024-03-05</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/the-broyhill-letter-2025.q4</loc><lastmod>2026-03-09</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/equity-highlights-february-2024-0-0-0-0-0-0-0-0-0</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Downside%20Protection.png</image:loc><image:caption>Downside Protection</image:caption><image:title>Downside Protection</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Time%20Arbitrage.png</image:loc><image:caption>Time Arbitrage</image:caption><image:title>Time Arbitrage</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/12.2024%20EH.jpg</image:loc><image:caption>12.2024 EH</image:caption><image:title>12.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Passive%20Investing.png</image:loc><image:caption>Passive Investing</image:caption><image:title>Passive Investing</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><lastmod>2024-12-19</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/broyhill-letter-highlights-ii-our-differentiation</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Passive%20Investing.png</image:loc><image:caption>Passive Investing</image:caption><image:title>Passive Investing</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/A%20good%20ball%20to%20hit.png</image:loc><image:caption>A good ball to hit</image:caption><image:title>A good ball to hit</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Time%20Arbitrage.png</image:loc><image:caption>Time Arbitrage</image:caption><image:title>Time Arbitrage</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Our%20Differentiation-2.png</image:loc><image:caption>Our Differentiation-2</image:caption><image:title>Our Differentiation-2</image:title></image:image><lastmod>2023-12-13</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/to-hell-with-herd-mentality</loc><lastmod>2024-06-06</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters/intro_to_broyhill__other_obese_americans</loc><lastmod>2024-05-29</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/equity-highlights-july-2025</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2025.08%20Equity%20Highlights.png</image:loc><image:caption>2025.08 Equity Highlights</image:caption><image:title>2025.08 Equity Highlights</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2025.07%20Equity%20Highlights.png</image:loc><image:caption>2025.07 Equity Highlights</image:caption><image:title>2025.07 Equity Highlights</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/09.2024%20EH.jpg</image:loc><image:caption>09.2024 EH</image:caption><image:title>09.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Illustration_6x4_FinalVersions_Patrick_v3.jpg</image:loc><image:caption>Illustration_6x4_FinalVersions_Patrick_v3</image:caption><image:title>Illustration_6x4_FinalVersions_Patrick_v3</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/05.2024%20EH.jpg</image:loc><image:caption>05.2024 EH</image:caption><image:title>05.2024 EH</image:title></image:image><lastmod>2025-07-22</lastmod></url><url><loc>https://www.broyhillasset.com/thank_you_bp</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/2023%20bbc-1.jpg</image:loc><image:caption>2023 bbc-1</image:caption><image:title>2023 bbc-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/The%20Broyhill%20Letter%202023.Q4-2.png</image:loc><image:caption>The Broyhill Letter 2023.Q4-2</image:caption><image:title>The Broyhill Letter 2023.Q4-2</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/ATVI%20Update-1.jpg</image:loc><image:caption>ATVI Update-1</image:caption><image:title>ATVI Update-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/UMG.png</image:loc><image:caption>UMG</image:caption><image:title>UMG</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Investing%20by%20Design.png</image:loc><image:caption>Investing by Design</image:caption><image:title>Investing by Design</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill%20letter%202023.Q2.jpg</image:loc><image:caption>Broyhill letter 2023.Q2</image:caption><image:title>Broyhill letter 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EH-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/02.2024%20EH.jpg</image:loc><image:caption>02.2024 EH</image:caption><image:title>02.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/10.2023%20EH.jpg</image:loc><image:caption>10.2023 EH</image:caption><image:title>10.2023 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/IMG_3818.jpeg</image:loc><image:caption>IMG_3818</image:caption><image:title>IMG_3818</image:title></image:image><lastmod>2023-12-19</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/equity-highlights-november-2025</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Illustration_6x4_FinalVersions_Patrick_v3.jpg</image:loc><image:caption>Illustration_6x4_FinalVersions_Patrick_v3</image:caption><image:title>Illustration_6x4_FinalVersions_Patrick_v3</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/A%20good%20ball%20to%20hit.png</image:loc><image:caption>A 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Differentiation-2</image:title></image:image><lastmod>2025-11-25</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/equity-highlights-february-2024-0-0-0-0-0-0-0-0</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/09.2024%20EH.jpg</image:loc><image:caption>09.2024 EH</image:caption><image:title>09.2024 EH</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/IMG_3818.jpeg</image:loc><image:caption>IMG_3818</image:caption><image:title>IMG_3818</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/7.2024%20EH-1.jpg</image:loc><image:caption>7.2024 EH-1</image:caption><image:title>7.2024 EH-1</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/02.2024%20EH.jpg</image:loc><image:caption>02.2024 EH</image:caption><image:title>02.2024 EH</image:title></image:image><lastmod>2024-11-21</lastmod></url><url><loc>https://www.broyhillasset.com/broyhill-blog/2018/02/18/lifelong-kindergarten</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Lifelong%20Kindergarten2.png</image:loc><image:caption>Lifelong Kindergarten2</image:caption><image:title>Lifelong 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nature</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><lastmod>2024-08-01</lastmod></url><url><loc>https://www.broyhillasset.com/partner-letters</loc><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Broyhill-Asset-Management-Horizontal-Logo-Light.svg</image:loc><image:caption>Broyhill-Asset-Management-Horizontal-Logo-Light</image:caption><image:title>Broyhill-Asset-Management-Horizontal-Logo-Light</image:title></image:image><image:image><image:loc>https://22324760.fs1.hubspotusercontent-na1.net/hubfs/22324760/Logo.svg</image:loc><image:caption>Logo</image:caption><image:title>Logo</image:title></image:image><lastmod>2023-08-31</lastmod></url></urlset>