Cliff Asness's EXLS Position Overview
Cliff Asness (via Aqr Capital Management LLC) currently holds 4.12 M shares of ExlService Holdings, Inc. (EXLS) worth $174.79 M, representing 0.09% of the portfolio. First purchased in 2012-Q4, this long-term strategic position has been held for 50 quarters.
Based on 13F filings since 2013, Cliff Asness has maintained a long-term strategic position in EXLS, representing a significant commitment to this investment thesis. Largest addition occurred in Q4 2025, adding 2.15 M shares. Largest reduction occurred in Q1 2017, reducing 339,385 shares.
Analysis based on 13F filings available since 2013 Q2
Cliff Asness's ExlService Holdings (EXLS) Holding Value Over Time
Track share changes against reported price movement
Quarterly ExlService Holdings (EXLS) Trades by Cliff Asness
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2025 | +2.15 M | Add 109.71% | 4.12 M | $42.44 |
| Q3 2025 | +1.66 M | Add 540.45% | 1.96 M | $44.03 |
| Q2 2025 | +30,678 | Add 11.12% | 306,656 | $43.79 |
| Q1 2025 | +46,842 | Add 20.44% | 275,978 | $46.49 |
| Q4 2024 | +62,809 | Add 37.76% | 229,136 | $44.32 |
| Q3 2024 | +2,013 | Add 1.23% | 166,327 | $37.82 |
| Q2 2024 | -3,976 | Reduce 2.36% | 164,314 | $31.06 |
| Q1 2024 | -61,007 | Reduce 26.61% | 168,290 | $31.74 |
| Q4 2023 | +13,398 | Add 6.21% | 229,297 | $30.85 |
| Q3 2023 | -5,106 | Reduce 2.31% | 215,899 | $28.04 |
| Q2 2023 | +174,235 | Add 372.54% | 221,005 | $30.21 |
| Q1 2023 | +7,965 | Add 20.53% | 46,770 | $32.37 |
| Q4 2022 | +1,485 | Add 3.98% | 38,805 | $33.89 |
| Q3 2022 | +100 | Add 0.27% | 37,320 | $29.47 |
| Q2 2022 | -73,790 | Reduce 66.47% | 37,220 | $29.47 |
| Q1 2022 | -4,375 | Reduce 3.79% | 111,010 | $28.66 |
| Q4 2021 | +81,515 | Add 240.67% | 115,385 | $28.96 |
| Q3 2021 | +33,870 | New Buy | 33,870 | $24.62 |
| Q2 2021 | -13,365 | Sold Out | 0 | $0.00 |
| Q1 2021 | -6,000 | Reduce 30.98% | 13,365 | $18.03 |
| Q4 2020 | -7,190 | Reduce 27.08% | 19,365 | $17.04 |
| Q3 2020 | -7,635 | Reduce 22.33% | 26,555 | $13.18 |
| Q2 2020 | +3,960 | Add 13.10% | 34,190 | $12.69 |
| Q1 2020 | -8,395 | Reduce 21.73% | 30,230 | $10.42 |
| Q4 2019 | +45 | Add 0.12% | 38,625 | $13.90 |
| Q3 2019 | +15 | Add 0.04% | 38,580 | $13.40 |
| Q1 2019 | -190 | Reduce 0.49% | 38,565 | $12.01 |
| Q4 2018 | -7,460 | Reduce 16.14% | 38,755 | $10.53 |
| Q3 2018 | +25,205 | Add 119.97% | 46,215 | $13.24 |
| Q2 2018 | -60 | Reduce 0.28% | 21,010 | $11.33 |
| Q1 2018 | +21,070 | New Buy | 21,070 | $11.15 |
| Q1 2017 | -339,385 | Sold Out | 0 | $0.00 |
| Q4 2016 | -139,535 | Reduce 29.14% | 339,385 | $10.09 |
| Q3 2016 | +20 | Add 0.00% | 478,920 | $9.97 |
| Q2 2016 | +27,790 | Add 6.16% | 478,900 | $10.48 |
| Q1 2016 | +159,620 | Add 54.76% | 451,110 | $10.36 |
| Q4 2015 | -95,455 | Reduce 24.67% | 291,490 | $8.99 |
| Q3 2015 | -37,525 | Reduce 8.84% | 386,945 | $7.38 |
| Q2 2015 | +36,815 | Add 9.50% | 424,470 | $6.92 |
| Q1 2015 | +77,345 | Add 24.93% | 387,655 | $7.44 |
| Q4 2014 | +142,500 | Add 84.92% | 310,310 | $5.74 |
| Q3 2014 | -40,500 | Reduce 19.44% | 167,810 | $4.88 |
| Q2 2014 | -120,000 | Reduce 36.55% | 208,310 | $5.89 |
| Q1 2014 | +38,000 | Add 13.09% | 328,310 | $6.18 |
| Q4 2013 | +120,500 | Add 70.96% | 290,310 | $5.53 |
| Q3 2013 | +72,500 | Add 74.50% | 169,810 | $5.69 |
| Q2 2013 | +97,310 | Add 0.00% | 97,310 | $5.91 |
| Q4 2012 | +47,310 | Add 0.00% | 47,310 | $5.31 |
Cliff Asness's ExlService Holdings Investment FAQs
Cliff Asness first purchased ExlService Holdings, Inc. (EXLS) in Q4 2012, acquiring 47,310 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Cliff Asness has held ExlService Holdings, Inc. (EXLS) for 50 quarters since Q4 2012.
Cliff Asness's largest addition to ExlService Holdings, Inc. (EXLS) was in Q4 2025, adding 4,118,625 shares worth $174.79 M.
According to the latest 13F filing for Q4 2025, Cliff Asness's firm, Aqr Capital Management LLC, owns 4,118,625 shares of ExlService Holdings, Inc. (EXLS), valued at approximately $174.79 M.
As of the Q4 2025 filing, ExlService Holdings, Inc. (EXLS) represents approximately 0.09% of Cliff Asness's publicly disclosed stock portfolio, making it one of their key holdings.
Cliff Asness's peak holding in ExlService Holdings, Inc. (EXLS) was 4,118,625 shares, as reported at the end of Q4 2025.