# EDGAR Filing Document

**Accession Number:** 0001959730
**File Stem:** 0000929638-25-004301
**Filing Date:** 2025-11
**Character Count:** 9801
**Document Hash:** 7e7fa343ef1739e082c818d3f706cec4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000929638-25-004301.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0000929638-25-004301

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**EFFECTIVENESS DATE**: 20251114

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fund 1 Investments, LLC
- **CENTRAL INDEX KEY:** 0001959730

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-23083
- **FILM NUMBER:** 251487935

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 100 CARR 115
- **STREET 2:** UNIT 1900
- **CITY:** RINCON
- **PROVINCE COUNTRY:** PR
- **ZIP:** 00677
- **BUSINESS PHONE:** 804-363-4458

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 100 CARR 115
- **STREET 2:** UNIT 1900
- **CITY:** RINCON
- **PROVINCE COUNTRY:** PR
- **ZIP:** 00677

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Fund 1 Investments LLC<br>**Address:** 100 CARR 115<br>UNIT 1900<br>RINCON, PR 00677

**Form 13F File Number:** 028-23083

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Benjamin C. Cable<br>**Title:** Chief Operating Officer<br>**Phone:** 804-363-4458

**Signature, Place, and Date of Signing:**

/s/ Benjamin C. Cable  Florham Park, NJ  11-14-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 2

**Form 13F Information Table Entry Total:** 58

**Form 13F Information Table Value Total:** $899971091

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

| No.   | Name                       | Form 13F File Number   |
|:---|:---|:---|
|  | Lennon Jonathan            | 028-16756              |
|  | Pleasant Lake Partners LLC | 028-16754              |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 36362141 | 224749 | SH |  | DFND | 12 | 224749 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 3020537 | 16900 | SH |  | DFND | 12 | 16900 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 7136025 | 32500 | SH |  | DFND | 12 | 32500 | 0 | 0 |
| ARRIVENT BIOPHARMA INC | COM | 04272N102 |  | 11436251 | 619851 | SH |  | DFND | 12 | 619851 | 0 | 0 |
| ATI INC | COM | 01741R102 |  | 1042209 | 12813 | SH |  | DFND | 12 | 12813 | 0 | 0 |
| BAIDU INC | SPON ADR REP A | 056752108 |  | 6255517 | 47473 | SH |  | DFND | 12 | 47473 | 0 | 0 |
| BATH  BODY WORKS INC | COM | 070830104 |  | 31623543 | 1227622 | SH |  | DFND | 12 | 1227622 | 0 | 0 |
| BJS RESTAURANTS INC | COM | 09180C106 |  | 4370400 | 143151 | SH |  | DFND | 12 | 143151 | 0 | 0 |
| BLOOMIN BRANDS INC | COM | 094235108 |  | 1085538 | 151400 | SH |  | DFND | 12 | 151400 | 0 | 0 |
| CANADA GOOSE HLDGS INC | SHS SUB VTG | 135086106 |  | 1930600 | 140000 | SH |  | DFND | 12 | 140000 | 0 | 0 |
| CELSIUS HLDGS INC | COM NEW | 15118V207 |  | 14306559 | 248853 | SH |  | DFND | 12 | 248853 | 0 | 0 |
| CITI TRENDS INC | COM | 17306X102 |  | 79855271 | 2573486 | SH |  | DFND | 12 | 2573486 | 0 | 0 |
| CROCS INC | COM | 227046109 |  | 16645667 | 199230 | SH |  | DFND | 12 | 199230 | 0 | 0 |
| DAVE  BUSTERS ENTMT INC | COM | 238337109 |  | 7790640 | 429000 | SH |  | DFND | 12 | 429000 | 0 | 0 |
| DESTINATION XL GROUP INC | COM | 25065K104 |  | 7543322 | 5758261 | SH |  | DFND | 12 | 5758261 | 0 | 0 |
| DIGITALOCEAN HLDGS INC | COM | 25402D102 |  | 13011202 | 380890 | SH |  | DFND | 12 | 380890 | 0 | 0 |
| EL POLLO LOCO HLDGS INC | COM | 268603107 |  | 2463373 | 253956 | SH |  | DFND | 12 | 253956 | 0 | 0 |
| ENVIRI CORP | COM | 415864107 |  | 95541449 | 7528877 | SH |  | DFND | 12 | 7528877 | 0 | 0 |
| ENVIRI CORP | COM | 415864107 |  | 6345000 | 500000 | SH | Call | DFND | 12 | 5000 | 0 | 0 |
| FOSSIL GROUP INC | COM | 34988V106 |  | 587744 | 228694 | SH |  | DFND | 12 | 228694 | 0 | 0 |
| FUNKO INC | COM CL A | 361008105 |  | 18623771 | 5413887 | SH |  | DFND | 12 | 5413887 | 0 | 0 |
| GAP INC | COM | 364760108 |  | 3315450 | 155000 | SH |  | DFND | 12 | 155000 | 0 | 0 |
| GENESCO INC | COM | 371532102 |  | 27633181 | 953197 | SH |  | DFND | 12 | 953197 | 0 | 0 |
| J JILL INC | COM | 46620W201 |  | 9605784 | 560104 | SH |  | DFND | 12 | 560104 | 0 | 0 |
| JUMIA TECHNOLOGIES AG | SPONSORED ADS | 48138M105 |  | 76512837 | 6590253 | SH |  | DFND | 12 | 6590253 | 0 | 0 |
| JUMIA TECHNOLOGIES AG | SPONSORED ADS | 48138M105 |  | 34830000 | 3000000 | SH | Call | DFND | 12 | 30000 | 0 | 0 |
| LATAM AIRLINES GROUP SA | SPONSORED ADR | 51817R205 |  | 1583750 | 35000 | SH |  | DFND | 12 | 35000 | 0 | 0 |
| LATHAM GROUP INC | COM | 51819L107 |  | 1908771 | 250824 | SH |  | DFND | 12 | 250824 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 5074963 | 16700 | SH |  | DFND | 12 | 16700 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 17516731 | 104690 | SH |  | DFND | 12 | 104690 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 33464000 | 200000 | SH | Call | DFND | 12 | 2000 | 0 | 0 |
| MIRION TECHNOLOGIES INC | COM CL A | 60471A101 |  | 1021114 | 43900 | SH |  | DFND | 12 | 43900 | 0 | 0 |
| MONRO INC | COM | 610236101 |  | 2515800 | 140000 | SH |  | DFND | 12 | 140000 | 0 | 0 |
| NATIONAL VISION HLDGS INC | COM | 63845R107 |  | 3210900 | 110000 | SH |  | DFND | 12 | 110000 | 0 | 0 |
| NATIONAL VISION HLDGS INC | COM | 63845R107 |  | 7262472 | 248800 | SH | Call | DFND | 12 | 2488 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 1523391 | 21847 | SH |  | DFND | 12 | 21847 | 0 | 0 |
| 1 800 FLOWERS COM INC | CL A | 68243Q106 |  | 43825350 | 9527250 | SH |  | DFND | 12 | 9527250 | 0 | 0 |
| PAPA JOHNS INTL INC | COM | 698813102 |  | 990975 | 20581 | SH |  | DFND | 12 | 20581 | 0 | 0 |
| PAR TECHNOLOGY CORP | COM | 698884103 |  | 8192466 | 206985 | SH |  | DFND | 12 | 8192466 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 670600 | 10000 | SH |  | DFND | 12 | 10000 | 0 | 0 |
| PG CORP | COM | 69331C108 |  | 8128120 | 539000 | SH |  | DFND | 12 | 539000 | 0 | 0 |
| REDDIT INC | CL A | 75734B100 |  | 41109333 | 178744 | SH |  | DFND | 12 | 178744 | 0 | 0 |
| RH | COM | 74967X103 |  | 12088020 | 59500 | SH |  | DFND | 12 | 59500 | 0 | 0 |
| ROCKET COS INC | COM CL A | 77311W101 |  | 3294600 | 170000 | SH | Call | DFND | 12 | 1700 | 0 | 0 |
| SIGNET JEWELERS LIMITED | SHS | G81276100 |  | 2301217 | 23991 | SH |  | DFND | 12 | 23991 | 0 | 0 |
| SILICON MOTION TECHNOLOGY CO | SPONSORED ADR | 82706C108 |  | 1016458 | 10721 | SH |  | DFND | 12 | 10721 | 0 | 0 |
| ST JOE CO | COM | 790148100 |  | 1071193 | 21649 | SH |  | DFND | 12 | 21649 | 0 | 0 |
| STITCH FIX INC | COM CL A | 860897107 |  | 27881382 | 6409513 | SH |  | DFND | 12 | 6409513 | 0 | 0 |
| SUPER GROUP SGHC LIMITED | ORD SHS | G8588X103 |  | 6198047 | 469549 | SH |  | DFND | 12 | 469549 | 0 | 0 |
| TAPESTRY INC | COM | 876030107 |  | 20260719 | 178950 | SH |  | DFND | 12 | 178950 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 897000 | 10000 | SH |  | DFND | 12 | 10000 | 0 | 0 |
| TILE SHOP HLDGS INC | COM | 88677Q109 |  | 77797023 | 12859012 | SH |  | DFND | 12 | 12859012 | 0 | 0 |
| TILLYS INC | CL A | 886885102 |  | 16840251 | 8174879 | SH |  | DFND | 12 | 8174879 | 0 | 0 |
| TORRID HLDGS INC | COM | 89142B107 |  | 17175998 | 9814856 | SH |  | DFND | 12 | 9814856 | 0 | 0 |
| TURNING PT BRANDS INC | COM | 90041L105 |  | 3895084 | 39400 | SH |  | DFND | 12 | 39400 | 0 | 0 |
| UP FINTECH HLDG LTD | SPONSORED ADS | 91531W106 |  | 5632810 | 527911 | SH |  | DFND | 12 | 527911 | 0 | 0 |
| V F CORP | COM | 918204108 |  | 1154400 | 80000 | SH |  | DFND | 12 | 80000 | 0 | 0 |
| VERA BRADLEY INC | COM | 92335C106 |  | 5594142 | 2783155 | SH |  | DFND | 12 | 2783155 | 0 | 0 |

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