Remember the fund that bought 5% of Xerox? They’re now at 7%+ and pushing the Board.

A few months ago I posted about a Czech fund called STARTEEPO building a 5%+ position in Xerox. At the time, the interesting part was simply the size of the bet. They had disclosed 6.6M common shares / 5.05% of Xerox.
XRX then rallied roughly 100 % from the May.

I assumed the next interesting filing might show some profit-taking. It didn't.

Their common-share position subsequently went:
**6.6M -> 8.0M -> 8.8M -> 9.5M shares.**

The latest disclosure shows: **7.23% common ownership** and **7.34% beneficial ownership including options.**

But the bigger development is that this is no longer just a large passive position. STARTEEPO has now formally approached Xerox's Board and is pushing for specific actions around Xerox Financial Services, or XFS. The three big asks are:

\- more transparency around XFS
\- a formal strategic review
\- continued capital discipline and deleveraging
That's the part that changed the story for me.

**Someone owns a lot of Xerox, kept adding, and is actively trying to unlock the value they think**
**the market is missing.**

Obviously the board doesn't have to do any of this and STARTEEPO can still be wrong. But as a follow-up to the original setup, this is more than I was waiting for.

The Xerox is getting hot.