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Stock impact report

Greenhaven Road Capital Main Fund Q3 2025 Investor Letter [Seeking Alpha]

PAR Technology Corporation (PAR) 
Last par technology corporation earnings: 3/12 04:05 pm Check Earnings Report
US:NYSE Investor Relations: partech.com/about-us/investors
Company Research Source: Seeking Alpha
Like most, our portfolio is not without its “hair”, but several of our long-term investments also inhabit the unpopular (in 2025) neighborhoods of software and alternative asset managers. I believe that our holdings are worth far more than their quarter-end share prices suggest; the true unknown is when (hopefully not if) the market will come to agree. To date the business progress of the companies we own has not outrun the multiple compression seen in the sectors we own, but that is not a given, and can reverse itself. SmileStudioAP/iStock via Getty Images Dear Fellow Investors, The Fund returned approximately -9% during the third quarter, bringing our YTD returns to approximately -9% . This letter will address why I believe our holdings are very attractive despite this. Returns will vary by fund and share class, so please check your individual statements. Why the short-term divergence from the market? Several factors are at work. One factor impacting our portfolio is th Show less Read more
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