Xerox Holdings Corporation (XRX) reported second-quarter 2026 revenue of $1.922 billion, up 22.0% from a year earlier, or 21.2% in constant currency. GAAP net income was $13 million, or $0.07 per share, compared with a year-earlier loss.
The company raised its full-year 2026 outlook for revenue and adjusted operating income. Xerox also lifted its Lexmark gross cost synergy target by $50 million to at least $350 million and reduced total debt outstanding by more than $200 million during the quarter.
- Q2 revenue was $1.922 billion, compared with $1.576 billion in Q2 2025.
- GAAP net income was $13 million, and basic and diluted EPS were $0.07.
- Adjusted operating income was $203 million, with adjusted operating margin of 10.6%.
- Q2 results included a $105 million pre-tax benefit from recognition of IEEPA tariff receivables.
- Operating cash flow was $37 million, and free cash flow was $11 million.
- Full-year 2026 guidance calls for revenue of about $7.6 billion, adjusted operating income of $555 million to $605 million, and free cash flow of about $250 million.
$XRX Hedge Fund Activity
We have seen 55 institutional investors add shares of $XRX stock to their portfolio, and 171 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GOLDMAN SACHS GROUP INC removed 10,508,035 shares (-75.4%) from their portfolio in Q1 2026, for an estimated $13,555,365
- BLACKROCK, INC. removed 4,496,781 shares (-30.7%) from their portfolio in Q1 2026, for an estimated $5,800,847
- MILLENNIUM MANAGEMENT LLC removed 4,424,024 shares (-95.8%) from their portfolio in Q1 2026, for an estimated $5,706,990
- DIMENSIONAL FUND ADVISORS LP removed 3,285,206 shares (-36.0%) from their portfolio in Q1 2026, for an estimated $4,237,915
- STATE STREET CORP removed 2,847,696 shares (-32.7%) from their portfolio in Q1 2026, for an estimated $3,673,527
- FIRST EAGLE INVESTMENT MANAGEMENT, LLC removed 2,174,115 shares (-66.4%) from their portfolio in Q1 2026, for an estimated $2,804,608
- MORGAN STANLEY removed 2,073,548 shares (-74.8%) from their portfolio in Q1 2026, for an estimated $2,674,876
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
