Greenhaven Road Capital’s Strategic Perspective on PAR Technologies (PAR)

Greenhaven Road Capital, an investment management company, released its third-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the third quarter, the fund returned approximately -9%, bringing the YTD returns to approximately -9%. The factors that affected the portfolio during the quarter included a lack of direct investment in AI, no overlap with the S&P 500 and Russell 2000, and insufficient ownership of small, high growth, yet unprofitable companies that have driven the recent rally and benefited from the current AI landscape. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2025.

In its third-quarter 2025 investor letter, Greenhaven Road Capital highlighted stocks such as PAR Technology Corporation (NYSE:PAR). PAR Technology Corporation (NYSE:PAR) offers omnichannel cloud-based hardware and software solutions to the restaurant and retail industries. The one-month return of PAR Technology Corporation (NYSE:PAR) was 7.51%, and its shares lost 48.55% of their value over the last 52 weeks. On November 7, 2025, PAR Technology Corporation (NYSE:PAR) stock closed at $38.67 per share, with a market capitalization of $1.57 billion.

Greenhaven Road Capital stated the following regarding PAR Technology Corporation (NYSE:PAR) in its third quarter 2025 investor letter:

“Owning a meaningful position in PAR Technology Corporation (NYSE:PAR) has been frustrating. The five-year chart shows we’ve been early, and its 40% decline in over just the last two months of the quarter certainly tests conviction. Here’s why we’re still owners… (I say “we” because a significant portion of my family’s liquid net worth is invested in Greenhaven Road’s Fund.)

There is no “scandal” at PAR. In fact, PAR’s largest customer, Burger King, has added products over the course of 2025, doubling down on their PAR relationship, and PAR signed more customers during Q3 than in any other quarter in the company’s history.

Still, PAR has been put firmly in the investor penalty box with at least two major “sins”. The first is that it is a software company, and the second is that growth has decelerated. These “sins”, combined with the company starting the year with a healthy valuation, have been a painful recipe…” (Click here to read the full text)

Is PAR Technology Corp. (PAR) the Hot Tech Stock to Buy Right Now?

PAR Technology Corporation (NYSE:PAR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 28 hedge fund portfolios held PAR Technology Corporation (NYSE:PAR) at the end of the second quarter, the same as in the previous quarter.  PAR Technology Corporation’s (NYSE:PAR) third quarter revenue increased nearly 23% to $119 million. While we acknowledge the risk and potential of PAR Technology Corporation (NYSE:PAR) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PAR Technology Corporation (NYSE:PAR) and that has 10,000% upside potential, check out our report about this cheapest AI stock.

In another article, we covered PAR Technology Corporation (NYSE:PAR) and shared Laughing Water Capital’s views on the company. In its Q2 2025, investor letter, Greenhaven Road Capital stated that PAR Technology Corporation (NYSE:PAR) is well-positioned for substantial growth and profitability. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.