ExlService Holdings, Inc.
US ˙ NasdaqGS ˙ US3020811044

SecurityEXLS / ExlService Holdings, Inc.
InstitutionNorges Bank
Latest Disclosed Ownership452,352 shares
Latest Disclosed Value $ 19,197,819
Norges Bank ownership in EXLS / ExlService Holdings, Inc.

On February 10, 2026 - Norges Bank filed a 13F-HR form disclosing ownership of 452,352 shares of ExlService Holdings, Inc. (US:EXLS) valued at $19,197,819 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 13, 2025 disclosing 0 shares of ExlService Holdings, Inc.. The current value of the position is $13,321,766 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-02-10 2025-12-31 13F EXLSERVICE HOLDINGS COM 302081104 452,352 452,352 19,198 0.0021
2025-11-13 2025-09-30 13F EXLSERVICE HOLDINGS COM 302081104 0 -1,005,249 -100.00 0 -100.00
2025-08-13 2025-06-30 13F EXLSERVICE HOLDINGS COM 302081104 1,005,249 -860,092 -46.11 44,020 -50.01 0.0055
2026-05-11 2025-03-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 1,865,341 -533,315 -22.23 88,063 -17.28 0.0124
2025-02-12 2024-12-31 13F EXLSERVICE HOLDINGS COM 302081104 2,398,656 465,680 24.09 106,452 44.36 0.0140
2025-11-12 2024-09-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 1,932,976 -226,600 -10.49 73,743 8.89 0.0103
2024-08-14 2024-06-30 13F EXLSERVICE HOLDINGS COM 302081104 2,159,576 -347,773 -13.87 67,724 -15.06 0.0101
2025-05-14 2024-03-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 2,507,349 -83,576 -3.23 79,734 -0.25 0.0126
2024-02-09 2023-12-31 13F EXLSERVICE HOLDINGS COM 302081104 2,590,925 449,315 20.98 79,930 33.11 0.0140
2024-11-13 2023-09-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 2,141,610 1,693,828 378.27 60,051 -11.22 0.0122
2024-08-14 2023-06-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 447,782 26,074 6.18 67,642 -0.89 0.0133
2024-05-15 2023-03-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 421,708 28,878 7.35 68,245 2.54 0.0149
2023-02-14 2022-12-31 13F EXLSERVICE HOLDINGS COM 302081104 392,830 51,182 14.98 66,557 32.20 0.0160
2023-11-13 2022-09-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 341,648 47,025 15.96 50,345 15.99 0.0134
2023-08-14 2022-06-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 294,623 -58,070 -16.46 43,407 -14.10 0.0112
2023-05-12 2022-03-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 352,693 -4,145 -1.16 50,530 -2.19 0.0110
2022-03-09 2021-12-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 356,838 24,900 7.50 51,659 26.40 0.0106
2022-11-14 2021-09-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 331,938 10,600 3.30 40,868 19.69 0.0090
2022-08-15 2021-06-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 321,338 -41,798 -11.51 34,145 4.29 0.0074
2022-05-09 2021-03-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 363,136 -21,537 -5.60 32,740 -0.02 0.0075
2021-03-02 2020-12-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 384,673 0 0.00 32,747 29.04 0.0076
2021-11-12 2020-09-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 384,673 -3,810 -0.98 25,377 3.03 0.0067
2021-08-13 2020-06-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 388,483 0 0.00 24,630 21.85 0.0071
2021-05-07 2020-03-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 388,483 0 0.00 20,213 -25.09 0.0072
2020-03-03 2019-12-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 388,483 0 0.00 26,984 3.74 0.0075
2020-11-13 2019-09-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 388,483 0 0.00 26,012 1.25 0.0080
2020-08-13 2019-06-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 388,483 0 0.00 25,690 10.18 0.0079
2020-05-11 2019-03-31 13F/A-2 EXLSERVICE HOLDINGS COM 302081104 388,483 0 0.00 23,317 14.06 0.0075
2019-03-04 2018-12-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 388,483 0 0.00 20,442 -20.51 0.0076
2019-12-02 2018-09-30 13F/A-3 EXLSERVICE HOLDINGS COM 302081104 388,483 -89,708 -18.76 25,718 -5.00 0.0084
2019-12-02 2018-09-30 13F/A-2 EXLSERVICE HOLDINGS COM 302081104 388,483 -89,708 25,718 0.0084
2019-11-12 2018-09-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 388,483 -89,708 25,718 0.0084
2019-08-12 2018-06-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 478,191 -36,870 -7.16 27,071 -5.76 0.0093
2019-05-15 2018-03-31 13F/A-2 EXLSERVICE HOLDINGS COM 302081104 515,061 0 0.00 28,725 -7.59 0.0104
2018-03-05 2017-12-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 515,061 55,658 12.12 31,084 16.02 0.0111
2018-11-13 2017-09-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 459,403 89,815 24.30 26,792 30.43 0.0102
2018-07-24 2017-06-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 369,588 56,856 18.18 20,542 38.69 0.0082
2018-05-11 2017-03-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 312,732 41,769 15.42 14,811 8.37 0.0061
2017-03-02 2016-12-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 270,963 0 0.00 13,667 5.95 0.0060
2017-11-13 2016-09-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 270,963 72,136 36.28 12,899 23.78 0.0061
2017-08-09 2016-06-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 198,827 19,800 11.06 10,421 12.37 0.0050
2017-05-10 2016-03-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 179,027 0 0.00 9,274 15.29 0.0046
2016-04-18 2015-12-31 13F/A-2 EXLSERVICE HOLDINGS COM 302081104 179,027 0 0.00 8,044 21.68 0.0040
2016-03-16 2015-12-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 179,027 0 8,044 0.0040
2016-11-14 2015-09-30 13F/A-2 EXLSERVICE HOLDINGS COM 302081104 179,027 0 0.00 6,611 6.78 0.0035
2016-08-12 2015-06-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 179,027 -195,978 -52.26 6,191 -55.62 0.0031
2016-05-13 2015-03-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 375,005 -2,871 -0.76 13,950 28.60 0.0068
2015-03-19 2014-12-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 377,876 40,209 10,848 0.0055
2016-04-18 2014-12-31 13F/A-2 EXLSERVICE HOLDINGS COM 302081104 377,876 40,209 11.91 10,848 31.60 0.0055
2015-11-12 2014-09-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 337,667 78,160 30.12 8,243 7.86 0.0045
2015-08-10 2014-06-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 259,507 0 0.00 7,642 -4.73 0.0041
2015-05-12 2014-03-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 259,507 0 0.00 8,021 11.90 0.0045
2014-03-07 2013-12-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 259,507 0 7,168 0.0044
2014-03-20 2013-12-31 13F/A-2 EXLSERVICE HOLDINGS COM 302081104 259,507 0 7,168 0.0042
2014-05-12 2013-12-31 13F/A-3 EXLSERVICE HOLDINGS COM 302081104 259,507 0 0.00 7,168 -3.02 0.0041
2014-11-14 2013-09-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 259,507 33,333 14.74 7,391 10.56 0.0043
2014-08-14 2013-06-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 226,174 0 0.00 6,685 -10.10 0.0042
2014-04-04 2013-03-31 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 226,174 33,829 7,436 0.0049
2014-05-12 2013-03-31 13F/A-2 EXLSERVICE HOLDINGS COM 302081104 226,174 33,829 17.59 7,436 31.05 0.0048
2013-11-14 2012-09-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 192,345 0 0.00 5,674 19.68 0.0038
2013-08-15 2012-06-30 13F/A-1 EXLSERVICE HOLDINGS COM 302081104 192,345 192,345 4,741 0.0038
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.