Greenhaven Road Capital, an investment management company, released its third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the Fund returned 3% net, bringing YTD net returns to 30%. The firm believes its portfolio is getting a little stronger with each passing day despite the challenges. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Greenhaven Road Capital highlighted stocks like PAR Technology Corporation (NYSE:PAR) in the third quarter 2023 investor letter. Headquartered in New Hartford, New York, PAR Technology Corporation (NYSE:PAR) is a technology company that serves restaurants and retail industries. On October 31, 2023, PAR Technology Corporation (NYSE:PAR) stock closed at $29.19 per share. One-month return of PAR Technology Corporation (NYSE:PAR) was -24.12%, and its shares gained 1.11% of their value over the last 52 weeks. PAR Technology Corporation (NYSE:PAR) has a market capitalization of $801.122 million.
Greenhaven Road Capital made the following comment about PAR Technology Corporation (NYSE:PAR) in its Q3 2023 investor letter:
“On October 5, PAR Technology Corporation (NYSE:PAR) issued a press release, saying that they had been “selected as the exclusive point of sale (POS) software and services provider with Brink POS® and marketplace order management software with MENU Link, for Burger King® traditional restaurants in North America.”
How did it happen? What does it mean? From the outside, it is difficult to know exactly what happened, but it appears that there is a combination of factors at PAR, Burger King, and within the industry that contributed to this customer win. Jeff Bezos said, “[a]ll overnight success takes about ten years.” PAR’s journey to landing Burger King started about nine years ago when they purchased the Brink POS system, which was at the time used in just 300 locations…” (Click here to read the full text)
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PAR Technology Corporation (NYSE:PAR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held PAR Technology Corporation (NYSE:PAR) at the end of second quarter which was 20 in the previous quarter.
We discussed PAR Technology Corporation (NYSE:PAR) in another article and shared Greenhaven Road Capital’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 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.
