What smart money is saying about e.l.f. Beauty Inc

ELF · Consumer Defensive · Household & Personal Products · Market cap $4.15B

1 fund in our archive has pitched e.l.f. Beauty Inc — most recently Platinium Asset Management in December 2025.

Company profile

e.l.f. Beauty, Inc., together with its subsidiaries, provides cosmetic and skin care products under the e.l.f. Cosmetics, e.l.f. Skin, Well People, and Keys Soulcare brand names worldwide. The company offers eye, lip, face, face, paw, and skin care products. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce platforms in the United States, and internationally primarily through distributors. The company was formerly known as J.A. Cosmetics Holdings, Inc. and changed its name to e.l.f. Beauty, Inc. in April 2016. e.l.f. Beauty, Inc. was founded in 2004 and is headquartered in Oakland, California.

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Reported positions

Bought

Sold

Letters

Position history

Between Q4 2025 and Q2 2026, 2 fund letters reported a position in e.l.f. Beauty Inc — 2 trimmed or exited.

Fund letters reporting a position in e.l.f. Beauty Inc, by quarter
Quarter	Letters	Bought	Sold	Theses
Q2 2026	2	0	2	0
Q4 2025	0	0	0	1

Fund activity · 2 positions · 2 moves

ExitedClearBridge Investments Growth Strategy
June 2026
“We exited lower- conviction positions in e.l.f. Beauty and Tractor Supply as decelerating growth and questions around long-term return potential weakened our confidence.”
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e.l.f. Beauty Inc
ExitedClearBridge Investments SMID Cap Growth Strategy
June 2026
“On the sell side, we exited specialty insurance distributor Ryan Specialty due to softer insurance conditions, margin pressure and AI- related uncertainty; Silicon Laboratories following its proposed acquisition by Texas Instruments; cosmetics and skin care maker e.l.f. Beauty as execution and innovation concerns weakened the thesis; and medical device company Penumbra following its announced acquisition by Boston Scientific.”
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e.l.f. Beauty Inc

Fund coverage · 1 thesis

Platinium Asset Management
December 2025
e.l.f. Beauty is a high-ROCE, Gen-Z–favored brand growing ahead of category, with tariff and M&A concerns largely reflected at ~22x earnings.
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