DD Revocable Trust Assumes 9.11% Stake in Xerox Holdings Following Darwin Deason's Passing
XRX is trading near its 52-week low of $1.86 (3.0% above the low) on light trading volume (0.3× avg).
Summary
An amendment to Schedule 13D reports that the DD Revocable Trust has become the beneficial owner of 9.11% of Xerox Holdings Corp's common stock, following the passing of Darwin Deason and the transfer of his shares to the trust.
Key Events · Ownership and Investor Activity · XRX
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Significant Ownership Transfer
Darwin Deason's 15,283,657 shares, constituting 9.11% of Xerox Holdings Corp's common stock, were transferred to the DD Revocable Trust on February 2, 2026, following his passing.
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New Control Over Major Stake
The Trust's three executors (Douglas R. Deason, Scott Letier, and Bryan C. Birkland) now collectively hold shared voting and dispositive power over this substantial block of shares.
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Investment and Administration Purpose
The Trust states it holds the shares for investment purposes and for the administration and eventual distribution of its assets, with potential for future acquisitions or dispositions.
Analysis · XRX · Technology
This Schedule 13D/A reports a significant change in beneficial ownership of Xerox Holdings Corp. Following the passing of Darwin Deason on December 2, 2025, his substantial holding of 15,283,657 shares, representing 9.11% of the company's outstanding common stock, has been transferred to the DD Revocable Trust. This transfer, formalized on February 2, 2026, places the voting and dispositive power of these shares under the shared control of the Trust's three executors. While the Trust states its intent to hold the shares for investment and administration, this shift in control over a material block of shares could influence future corporate governance and strategic decisions, especially given the company's recent activities around warrant distributions and potential offerings.
At the time of this filing, XRX was trading at $1.92 on NASDAQ in the Technology sector, with a market capitalization of approximately $245.2M. The 52-week trading range was $1.86 to $8.26. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.