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      <image:title>Leadership - First Name Last Name</image:title>
      <image:caption>Tobias Keene, D.D.S. Hailing from Richmond, Virginia, Dr. Tobias Keene brings a bit of unabashed Southern hospitality to all his patients. He moved to Washington, D.C. over thirty years ago as a freshman at Ivy College. Right after graduation, he attended World University’s School of Dentistry. Before opening Keene Dental in 1994, he worked for free clinics and some of the finest practices in the District. He is part of the 123 Dental Association and stays up-to-date on the latest dental discoveries. When not striving to keep his patients happy and healthy, he’s enjoys hiking with his family in Rock Creek Park.</image:caption>
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      <image:title>Leadership - First Name Last Name</image:title>
      <image:caption>It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <loc>https://www.varsityfg.com/areas-of-practice</loc>
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    <lastmod>2021-10-25</lastmod>
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    <loc>https://www.varsityfg.com/about</loc>
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  <url>
    <loc>https://www.varsityfg.com/anthony-f-apollaro-jr</loc>
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    <lastmod>2022-02-02</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/6176f235d999050c8884f2ab/40c57f11-036e-48e3-a610-006882b98464/Anthony_F_Apollaro_Jr_v01.jpg</image:loc>
      <image:title>Anthony F. Apollaro Jr. - Anthony F. Apollaro Jr. Chief Executive Officer &amp; Chief Investment Officer</image:title>
      <image:caption>Mr. Anthony F. Apollaro Jr. – Mr. Apollaro is an experienced investor and asset manager responsible for deploying over One Billion US Dollars ($1,000,000,000) into both private and public companies. During his time as a private equity executive working at firms such as Quad-C Inc., Westbrook Partners LLC and Hicks Muse Tate Furst, Mr. Apollaro was responsible for direct P&amp;L oversight and management of companies representing more than $40M in annual revenues and $17M in recurring profits. Currently, Mr. Apollaro is the CEO of Varsity Financial Group Holdings Inc. (“Varsity”). He founded Varsity to provide investors with access to his unique blended private equity / public markets investment strategy designed to deliver a balanced and dynamic approach to generating investment income and long term capital appreciation throughout all market cycles. Since graduating from Columbia University in 1993, Mr. Apollaro has spent his career in various areas of finance such as advising corporations on mergers &amp; acquisitions, investing in public securities and private entities, financing real estate projects, managing private assets, selecting managers for capital investment and teaching &amp; lecturing at world class institutions such as Columbia University, Rice University, Stanford University and Texas A&amp;M University. Mr. Apollaro espouses and lectures on a disciplined, patient, “value” based investment philosophy as taught and implemented by Benjamin Graham, Warren Buffett, and R. Ted Weschler. Prior to launching Varsity, he was an equity owner and Chief Investment Officer for Fusion Capital Management where he was in charge of the firm’s (and affiliate’s) investment committees. Mr. Apollaro was directly responsible for all the equity portfolios as well as sourcing / managing due diligence for alternative asset managers. During Mr. Apollaro’s five-year tenure at Fusion, the firm grew from $25 million of assets under administration to over $800 million. Mr. Apollaro sold his interest in Fusion in 2018 to focus on the launch of Varsity. Relevant Experience Mr. Apollaro began his career working as a financial analyst in the Merchant Banking / Leveraged Buyout Financing Group for Chase Manhattan Bank and the Mergers &amp; Acquisitions Group for Merrill Lynch &amp; Co. While at Chase and Merrill, he was ranked at the highest level of analysts and was recruited for a prestigious position with the private equity firm Quad-C Inc. in Charlottesville. During his three year tenure at Quad-C, Mr. Apollaro reported directly to R. Ted Weschler, current Co-Chief Investment Officer of Berkshire Hathaway, Inc. in analyzing, valuing and managing the firm’s public and private investments. Mr. Apollaro transitioned from Quad-C to an opportunity to work at a portfolio company of Westbrook Partners, Evergreen Alliance Gold Limited (EAGL). While at EAGL, Mr. Apollaro reported directly to the CEO Mr. Mike Lohner and helped the firm more than double in size growing from a portfolio of twenty golf courses to over fifty golf courses in three years. Mr. Apollaro was in charge of all joint venture asset management and financing golf course acquisitions / developments. One prominent project Mr. Apollaro led was the highly successful construction and development of the Cowboy Golf Club in partnership with Jerry Jones &amp; family. Mr. Apollaro oversaw the project and managed the partnership with the Jones family. The Cowboy Club was a highly successful investment for the partnership yielding investment returns estimated to be in excess of 60% annually over the five-year holding period. After aiding in the sale and recapitalization of EAGL, Mr. Apollaro followed CEO Mike Lohner to a new assignment at Home Interiors &amp; Gifts, Inc. (HIG), a Hicks Muse portfolio company. While at HIG, Mr. Apollaro managed two operating units, Boehm Porcelain (Boehm) and The Better Homes and Gardens Collection. Boehm was a world class manufacturer of porcelain sculptures whose works of art are in over 137 museums worldwide, including the White House, the Vatican, and Buckingham Palace. The Better Homes &amp; Gardens Collection was a license product program with Meredith Corporation, an international media company whose prized property is the iconic Better Homes &amp; Garden magazine. As Vice President/ General Manger of these operating units Mr. Apollaro reported to the CEO on all aspects of the businesses, including, but not limited to: strategic issues, P&amp;L responsibilities, employees, product development and risk management. After three years at HIG, Mr. Apollaro left to return to the investment management business to advise high net worth individuals as Partner and Chief Investment Officer of Optimus Capital Advisors, LLC. (Optimus). Mr. Apollaro was in charge of monitoring and allocating client portfolios as well as sourcing, executing and managing the firms private investment offerings. An example of Mr. Apollaro’s work at Optimus was the growth financing secured for Stella &amp; Dot LLC, a direct seller of jewelry. Mr. Apollaro sourced the opportunity, completed the underwriting, negotiated the terms and monitored the very successful investment generating significant returns of more than 24X turning a $400,000 investment into pre-tax profits of $9.6 million over eight years. Mr. Apollaro believes that the diversity of his background as well as his successful deployment of capital and management of companies over the last decade through various economic cycles provides him a competitive advantage when assessing the risk / reward characteristics of selected financial securities and management teams. He implements a “value” based investment strategy that is rooted in detailed financial analysis focused on buying ownership interests in an entity. His approach is to acquire ownership in securities whose price currently represents a sufficient margin of safety to our estimates of intrinsic value. Essentially, this strategy is to buy good quality assets at a significant discount. Education and Professional Activities Mr. Apollaro began his career working as a financial analyst in the Merchant Banking / Leveraged Buyout Financing Group for Chase Manhattan Bank and the Mergers &amp; Acquisitions Group for Merrill Lynch &amp; Co. While at Chase and Merrill, he was ranked at the highest level of analysts and was recruited for a prestigious position with the private equity firm Quad-C Inc. in Charlottesville. During his three year tenure at Quad-C, Mr. Apollaro reported directly to R. Ted Weschler, current Co-Chief Investment Officer of Berkshire Hathaway, Inc. in analyzing, valuing and managing the firm’s public and private investments. Personal Tony resides in Flower Mound, TX with his college sweetheart and wife Penny S. Apollaro, LCSW and their three children: Lauren, Anthony and Jack. When not in the office he enjoys coaching his children in youth sports, golfing and playing poker.</image:caption>
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    <lastmod>2022-01-07</lastmod>
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      <image:title>Arthur Weissman - Arthur Weissan President &amp; Chief Operating Officer</image:title>
      <image:caption>Arthur Weissman is an experienced FinTech entrepreneur with a passion for innovation and a record of building successful businesses as both an entrepreneur as well as a Global 500 executive. He has been a leader creating a bridge between the worlds of finance and technology to create solutions for the 21st century. Arthur became an entrepreneur with a single focus on making outdated and inefficient business models simpler, faster and cheaper. He has a passion for creating and building the next wave of technology enabled companies helping to transform outdated industries. Arthur is a Founder of IndustryFT which is an innovative, digital back office replacement platform with data analytics for private companies and Funds. With IndustryFT, growing companies are able to become lean and efficient allowing them to focus on growing their businesses and adding clients while outsourcing their back-office functions to the IndustryFT platform of Tech, Process, People and Analytics. Small and mid-sized firms can now benefit from lowering costs and improving efficiencies typically only available to much larger companies. And, they can also access advanced analytics, reporting and interactive dashboards. Before starting IndustryFT, Arthur was a principal at WealthForge helping to launch the first technology enabled broker-dealer specifically approved to support crowdfunding and direct alternative investments. The WealthForge technology platform quickly became an industry leader helping to make the process of raising private capital faster, cheaper and easier. Prior to WealthForge, Arthur was the Co-Founder of Market76, an early data aggregation, analytics and reporting platform designed for independent financial advisors. The Market76 platform provides independent financial advisors with a simple to use data analytics platform attracting more than $200B in assets in its first few years. He is also an investor and advisor to other disruptive companies in both technology and financial industries. Prior to Arthur’s experience as an entrepreneur, he spent considerable time at Citigroup and Telstra, both Global 500 firms, in senior and strategic roles. At Citigroup, he held the role of Advisor, Citi Family Office providing innovative investment solutions and advice targeting the firm’s largest and most successful clients. Before his work at Citigroup, Arthur was VP, Business Development and Strategy for Telstra, a leading global technology company with headquarters in Melbourne, Australia. At Telstra, Arthur helped to lead the company’s expansion beyond Australia providing technology and digital network solutions to many of the world’s largest organizations such as GE and Apple as well as global government agencies. In his spare time, Arthur enjoys traveling, thought leadership and spending time with his family.</image:caption>
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  <url>
    <loc>https://www.varsityfg.com/damon-de-vito</loc>
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    <lastmod>2022-02-03</lastmod>
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      <image:title>Damon De Vito - Damon DeVito Venture Partner VP Growth Investments</image:title>
      <image:caption>Damon leads VFG’s startup investing by sourcing deals and maintaining post investment relationships with founders. He is a Charlottesville, Virginia based angel investor, advisor, and entrepreneur with strengths in strategy, product/market fit, growth, &amp; fundraising. As an adjunct at the University of Virginia’s Darden Graduate School of Business, Damon teaches an applied entrepreneurship class called Venture Velocity with half of VV startups continuing post-graduation. He also periodically works with UVA’s Engineering School on special programs for tech startups. Damon is a mentor at Techstars, UVA’s Venture Lab (formerly iLab) and Boston College’s Shea Center. He has been an EIR at the Wharton School of Business and a member of the Wharton Sports Business Initiative. Damon graduated Darden (MBA)as the Samuel Forrest Hyde Fellow and holds a BA (Economics) from the University of Pennsylvania and a BS (Finance) from Wharton.</image:caption>
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  <url>
    <loc>https://www.varsityfg.com/jessie-stansberry</loc>
    <changefreq>daily</changefreq>
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    <lastmod>2022-01-07</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/6176f235d999050c8884f2ab/68028ede-d2b2-4010-93d2-a6c9ed18e3af/Jessie_Stansberry_v02.jpg</image:loc>
      <image:title>Jessie Stansberry - Jessie Stansberry Senior Vice President</image:title>
      <image:caption>Jessie Stansberry has led an impressive career as a Relationship Manager and Communications Director in her 8 years working in the financial industry. Serving as the SVP – Investor Relations at Varsity Financial Group, Jessie plays a major role in client communications, relationship management, and marketing. Through her commitment to this role, she has helped to build internal workflows and investor communication strategies. As a Communications Director turned SVP – Investor Relations, Jessie has developed a unique perspective when it comes to communicating effectively with investors. Influenced by her background in relationship management and growing up in an entrepreneurial environment, she serves as an important asset to this team. She holds a bachelors degree from Rice University and was a member of the women’s soccer team. She currently resides in Coppell, TX with her husband and three young children. Jessie serves as the deacon of Other People Focused ministries at The Door Church, is on the PTO board at her son’s elementary school and drinks lots of caffeinated tea to help her multitask (with a smile).</image:caption>
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    <lastmod>2022-01-07</lastmod>
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      <image:title>Drew Miller - Drew Miller Analyst</image:title>
      <image:caption>Drew Miller is our most recent addition to the team, he started as an intern but has now joined the team full-time. He previously spent some time in the financial advising industry. As the analyst at Varsity Financial Group, Drew takes on many tasks including but not limited to; analyzing new investment prospects, financial analysis, create financial models, research, as well as provide backing to the structure, due diligence, negotiation and financing of the investments. Pursuing a continued career in baseball he attended Trinity University before transferring to Oklahoma State University where he earned a bachelor’s degree in finance. In his free time, Drew enjoys powerlifting/ bodybuilding, college sports, and numerous outdoor activities.</image:caption>
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    <lastmod>2021-10-26</lastmod>
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    <lastmod>2024-02-26</lastmod>
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      <image:title>Portfolio Holdings</image:title>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/6176f235d999050c8884f2ab/09da9121-15bc-4078-8cf5-0d33c0fb3acf/Path.jpeg</image:loc>
      <image:title>Portfolio Holdings</image:title>
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  </url>
  <url>
    <loc>https://www.varsityfg.com/varsity</loc>
    <changefreq>daily</changefreq>
    <priority>1.0</priority>
    <lastmod>2025-03-01</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/6176f235d999050c8884f2ab/c8e0e677-79f2-402b-b921-3618ce1b0e7f/growth.png</image:loc>
      <image:title>Varsity - Performance</image:title>
      <image:caption>We seek to provide leading risk adjusted rates of return, compounded over a long-term time horizon. We recognize and accept that we will periodically underperform indexes and other managers, as poor relative performance for shorter periods is an inevitable part of achieving our longer-term goal.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/6176f235d999050c8884f2ab/8c33b2d4-003e-46b8-9777-aa0ed6fa78dc/business.png</image:loc>
      <image:title>Varsity - Business Segments</image:title>
      <image:caption>We focus on our three business segments to leverage our team’s experience and associated synergies with our existing assets. Those segments are sports, entertainment and lifestyle brands. Within those segments we invest in services, consumables, technology and real estate.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/6176f235d999050c8884f2ab/e5fd4c0b-a110-4b6f-a09d-a6daac3d43c7/funds.png</image:loc>
      <image:title>Varsity - Investment Philosophy</image:title>
      <image:caption>We are dedicated to value investing. When we invest, we insist that our assessment of the intrinsic value of the particular asset exceeds the price we pay by an amount that provides a reasonable margin of safety. At all times we maintain a focus on minimizing the probability of permanent capital impairment.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/6176f235d999050c8884f2ab/1db063c1-3ef8-4860-97c5-de17e03c7f60/intellectual.png</image:loc>
      <image:title>Varsity - Intellectual Independence</image:title>
      <image:caption>We form opinions and build conviction based on our own proprietary efforts. We do not rely on validation from the broad investment community to justify our point of view and may, at times, hold investments that are contrary to general opinion, widely unloved, and possibly deeply disliked. We are willing to embrace a non-conforming point of view.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/6176f235d999050c8884f2ab/f2434e36-6b43-4e27-bae4-ea84672299b8/search.png</image:loc>
      <image:title>Varsity - Due Diligence</image:title>
      <image:caption>Solid research is the foundation of our success. We depend on an accurate, timely, and deep understanding of our investments. We are committed to gaining this understanding based on fundamental research, hard work, and intellectual rigor. We will remain open to alternative views and new information. We aim to prevent biases from clouding our judgment.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/6176f235d999050c8884f2ab/c3f45405-80f9-43c0-8fb4-94c293325789/excellence.png</image:loc>
      <image:title>Varsity - Commitment to Excellence</image:title>
      <image:caption>We are committed to excellence in all endeavors. We believe that hard work, preparation, effort and diligence promote long term success.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/6176f235d999050c8884f2ab/1643657021007-TR64WD896TPQJDET70C9/CASATA.jpg</image:loc>
      <image:title>Varsity - CASATA</image:title>
      <image:caption>Development on 6 acres of 67 units of milt-family micro homes and community amenities…</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/6176f235d999050c8884f2ab/1641571837182-90O5L7BUU6BYU2OLMTBR/Varsity_Financial_Group_PORTFOLIO_WEBsite_v02.jpg</image:loc>
      <image:title>Varsity - VIRGINIA CLUB HOLDINGS, LLC</image:title>
      <image:caption>Glenmore Country Club is a private Club in Keswick, Virginia…</image:caption>
    </image:image>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/6176f235d999050c8884f2ab/b8af6bc9-e70e-42dc-9363-1479a4544953/slide-1-1.jpg</image:loc>
      <image:title>Varsity</image:title>
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  </url>
  <url>
    <loc>https://www.varsityfg.com/areas-of-practice-1</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2022-02-03</lastmod>
    <image:image>
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      <image:title>Varsity’s Seven Investment Maxims</image:title>
    </image:image>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/6176f235d999050c8884f2ab/4efef9fe-80cb-4a70-9b81-da31576bb0dd/partner-24.png</image:loc>
      <image:title>Varsity’s Seven Investment Maxims</image:title>
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      <image:title>Varsity’s Seven Investment Maxims</image:title>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/6176f235d999050c8884f2ab/0f0b63c3-1847-4d3d-a7ff-35b0c5125131/970x404_meeting_seminar.jpg</image:loc>
      <image:title>Varsity’s Seven Investment Maxims</image:title>
      <image:caption>In addition to creating the right physical environment I’ve come to realize that it’s even more important to nurture the right relationships as a means of constructing a stable emotional environment. Nothing matters more than having a happy relationship with my wife, my kids, my parents, my closest friends and colleagues. They play a crucial role in supporting me during difficult times, and Penny in particular helps me logically think through problems as they inevitably arise in the business world. I constantly look to improve my own personal governance by ensuring I keep the right people in my environment. Nurturing these relationships is a vital component of building a successful business and successful life.</image:caption>
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      <image:title>Varsity’s Seven Investment Maxims</image:title>
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      <image:title>Varsity’s Seven Investment Maxims</image:title>
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  </url>
  <url>
    <loc>https://www.varsityfg.com/portfolio-1</loc>
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    <lastmod>2022-02-04</lastmod>
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