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Greenhaven Road Capital says PAR Technology shows a long growth runway
The firm reported about an 11% net return in Q2 2026 and said PAR’s profitability has improved on an EBITDA basis.
Greenhaven Road Capital said in its second-quarter 2026 investor letter that it continues to own PAR Technology Corporation, describing the company as having a long runway for growth and noting it has inflected to EBITDA profitability, according to Yahoo Finance. The investor letter also outlined portfolio changes, including reducing concentration and increasing investments tied to near-term catalysts, while taking a proactive approach to profit-taking. Greenhaven Road Capital said it plans to stay focused on owning strong businesses and researching ideas that challenge market consensus. The letter pointed to the impact of declining market multiples, while arguing that underlying business performance still appears to be growing. It also said several major positions are poised for significant events within the year, and that investors may want to review the fund’s top five holdings to identify its key picks for 2026. PAR Technology shares closed on August 14, 2026 at $19.05 per share. PAR is down 64.5% over the past 52 weeks, but had a one-month return of 13.25%, and the company has a market capitalization of about $788 million, per the same coverage.