Funko investor Fund 1 Investments reports 9.9% stake

Cash-settled swaps add economic exposure to 7,287,462 notional shares but confer no voting or disposition power over those shares.

Rhea-AI Filing Summary

Funko, Inc. (FNKO) reports that Fund 1 Investments, LLC beneficially owned 5,527,297 Class A shares, approximately 9.9% of the outstanding shares. The reporting person had sole voting and dispositive power over those shares. The stated aggregate purchase price was approximately $18,747,625, including brokerage commissions.

The reported percentage is based on 55,995,766 shares outstanding as of August 4, 2026. Separately, Fund 1 Investments had cash-settled total return swaps with economic exposure to 7,287,462 notional shares, approximately 13.0% of the outstanding shares. The swaps did not give it voting or disposition power over the shares underlying them.

Key Figures

Beneficially owned Class A shares: 5,527,297 shares Percentage of outstanding shares: 9.9% Shares outstanding: 55,995,766 shares +3 more

6 metrics

Beneficially owned Class A shares 5,527,297 shares Fund 1 Investments, LLC

Percentage of outstanding shares 9.9% Fund 1 Investments' beneficial ownership

Shares outstanding 55,995,766 shares As of August 4, 2026

Aggregate purchase price Approximately $18,747,625 Includes brokerage commissions

Notional shares under cash-settled swaps 7,287,462 notional shares Economic exposure under the swaps

Swap exposure as a percentage of outstanding shares Approximately 13.0% Notional shares under the cash-settled swaps

Key Terms

cash-settled total return swap agreements, notional Shares, margin loans

3 terms

cash-settled total return swap agreements financial

"entered into certain cash-settled total return swap agreements"

notional Shares financial

"economic exposure to an aggregate of 7,287,462 notional Shares"

margin loans financial

"may, at any given time, include margin loans"

Margin loans are loans from a brokerage that let an investor borrow money using their existing stocks, bonds or cash as collateral to buy more securities. They matter because borrowing magnifies both gains and losses—like using a lever to move a heavier load—so small market moves can have outsized effects on your returns; investors also pay interest and risk a margin call, where the broker may force sales if collateral falls below required levels.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many FNKO shares did Fund 1 Investments beneficially own?

Fund 1 Investments, LLC beneficially owned 5,527,297 Class A shares, approximately 9.9% of the outstanding shares. It had sole voting and dispositive power over those shares.

What economic exposure did Fund 1 Investments' FNKO swaps provide?

The cash-settled total return swaps provided economic exposure to 7,287,462 notional shares, approximately 13.0% of the outstanding shares. The swaps did not provide voting or disposition power over the shares underlying them.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/16/2026 - 07:07 PM EDT Accepted by SEC EDGAR 10/16/2026 - 07:07 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)

Funko, Inc.

(Name of Issuer)

Class A Common Stock, $0.0001 par value per share

(Title of Class of Securities)

361008105

(CUSIP Number)

Kenneth Mantel, Esq.
Olshan Frome Wolosky LLP, 1325 Avenue of the Americas
New York, NY, 10019
212-451-2300

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

10/14/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 361008105

1

Name of reporting person

Fund 1 Investments, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 5,527,297.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,527,297.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

5,527,297.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.9 %

14

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Common Stock, $0.0001 par value per share
(b)	Name of Issuer: Funko, Inc.
(c)	Address of Issuer's Principal Executive Offices: 2802 WETMORE AVE, EVERETT, WASHINGTON , 98201.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is hereby amended and restated to read as follows: The Shares beneficially owned by the Reporting Person were purchased with working capital of the Funds (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 5,527,297 Shares beneficially owned by the Reporting Person is approximately $18,747,625, including brokerage commissions.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended and restated to read as follows: The aggregate percentage of Shares reported beneficially owned by the Reporting Person is based on 55,995,766 Shares outstanding as of August 4, 2026, which is the total number of Shares outstanding as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 6, 2026. As of the date hereof, the Reporting Person beneficially owned 5,527,297 Shares, constituting approximately 9.9% of the outstanding Shares.
(b)	Item 5(b) is hereby amended and restated to read as follows: The Reporting Person has sole power (i) to vote or direct the vote of, and (ii) to dispose or direct the disposition of, the 5,527,297 Shares held by the Funds.
(c)	Item 5(c) is hereby amended and restated to read as follows: The transactions in the Shares by the Reporting Person since the filing of Amendment No. 4 to the Schedule 13D are set forth in Exhibit 1 and are incorporated herein by reference.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 is hereby amended to add the following: The Reporting Person has entered into certain cash-settled total return swap agreements (the "Cash-Settled Swaps") with an unaffiliated third-party financial institution, which provide the Reporting Person with economic exposure to an aggregate of 7,287,462 notional Shares, representing approximately 13.0% of the outstanding Shares. The Cash-Settled Swaps provide the Reporting Person with economic results that are comparable to the economic results of ownership, but do not provide the Reporting Person with the power to vote or direct the voting or dispose of or direct the disposition of the Shares that are the subject of the Cash-Settled Swaps.
Item 7.	Material to be Filed as Exhibits.
	Item 7 is hereby amended to add the following exhibit: 1 - Transactions in Securities

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Fund 1 Investments, LLC

Signature:	/s/ Benjamin C. Cable
Name/Title:	Benjamin C. Cable, Chief Compliance Officer
Date:	10/16/2026