ExlService Holdings, Inc.
US ˙ NasdaqGS ˙ US3020811044

SecurityEXLS / ExlService Holdings, Inc.
InstitutionNicolet Advisory Services, Llc
Latest Disclosed Ownership24,419 shares
Latest Disclosed Value $ 1,031,214
Nicolet Advisory Services, Llc reports 3.44% decrease in ownership of EXLS / ExlService Holdings, Inc.

On February 13, 2026 - Nicolet Advisory Services, Llc filed a 13F-HR form disclosing ownership of 24,419 shares of ExlService Holdings, Inc. (US:EXLS) valued at $1,036,342 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 13, 2025 disclosing 25,290 shares of ExlService Holdings, Inc.. This represents a change in shares of -3.44% during the quarter. The current value of the position is $717,430 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)
2026-02-13 2025-12-31 13F EXLSERVICE HOLDINGS COM 302081104 24,419 -871 -3.44 1,031 -3.73 0.0695
2025-11-13 2025-09-30 13F EXLSERVICE HOLDINGS COM 302081104 25,290 1,880 8.03 1,071 8.62 0.0833
2025-08-13 2025-06-30 13F EXLSERVICE HOLDINGS COM 302081104 23,410 51 0.22 987 -4.09 0.0840
2025-05-08 2025-03-31 13F EXLSERVICE HOLDINGS COM 302081104 23,359 -763 -3.16 1,028 -5.51 0.1020
2025-02-12 2024-12-31 13F EXLSERVICE HOLDINGS COM 302081104 24,122 2,348 10.78 1,088 28.30 0.1000
2024-11-12 2024-09-30 13F EXLSERVICE HOLDINGS COM 302081104 21,774 1,390 6.82 849 32.71 0.0801
2024-08-14 2024-06-30 13F EXLSERVICE HOLDINGS COM 302081104 20,384 4,589 29.05 639 30.94 0.0613
2024-05-10 2024-03-31 13F EXLSERVICE HOLDINGS COM 302081104 15,795 7,332 86.64 489 95.20 0.0497
2024-02-13 2023-12-31 13F EXLSERVICE HOLDINGS COM 302081104 8,463 670 8.60 251 16.28 0.0270
2023-11-07 2023-09-30 13F EXLSERVICE HOLDINGS COM 302081104 7,793 6,424 469.25 216 4.88 0.0239
2023-08-09 2023-06-30 13F EXLSERVICE HOLDINGS COM 302081104 1,369 1,369 206 0.0226
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.