E L F BEAUTY INC

Ticker: ELF CUSIP: 26856L103 Class: Common Stock

CONFLUENCE INVESTMENT MANAGEMENT LLC's Holding History (CIK: 0001442056)

Note: Option positions (PUT/CALL) are excluded.

Q4 2018

Shares 406,792 Value ($000) $3,523 Avg Close $11.30 Range $7.70 - $13.99

Q3 2018

Shares 427,857 Value ($000) $5,446 Avg Close $13.75 Range $9.30 - $16.91

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2018	406,792	$3,523	$11.30	$7.70 - $13.99
Q3 2018	427,857	$5,446	$13.75	$9.30 - $16.91