# EDGAR Filing Document

**Accession Number:** 0001704711
**File Stem:** 0000921895-26-000513
**Filing Date:** 2026-2
**Character Count:** 23133
**Document Hash:** 7fec492529c146072d1011bc53ae265f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000921895-26-000513.hdr.sgml**: 20260219

**ACCESSION NUMBER**: 0000921895-26-000513

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260219

**DATE AS OF CHANGE**: 20260219

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Funko, Inc.
- **CENTRAL INDEX KEY:** 0001704711
- **STANDARD INDUSTRIAL CLASSIFICATION:** GAMES, TOYS & CHILDREN'S VEHICLES (NO DOLLS & BICYCLES) [3944]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-90343
- **FILM NUMBER:** 26656205

**BUSINESS ADDRESS:**
- **STREET 1:** 2802 WETMORE AVE
- **CITY:** EVERETT
- **STATE:** WA
- **ZIP:** 98201
- **BUSINESS PHONE:** 425-783-3616

**MAIL ADDRESS:**
- **STREET 1:** 2802 WETMORE AVE
- **CITY:** EVERETT
- **STATE:** WA
- **ZIP:** 98201
**FILED BY**: 

**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:** SCHEDULE 13D

**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

## Ex-1

Exhibit 1

**<u>Transactions in the Securities of the Issuer During the Past 60 Days</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;<u>Nature of the Transaction</u> | &nbsp;&nbsp; Amount of Securities<br> <u>Purchased/(Sold)</u> | &nbsp;&nbsp;<u>Price ($)</u> | &nbsp;&nbsp; Date of<br> <u>Purchase/Sale</u> |

---

**<u>FUND 1 INVESTMENTS, LLC</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(53480) | &nbsp;&nbsp;$3.6614 | &nbsp;&nbsp;01/21/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;6900 | &nbsp;&nbsp;$3.5200 | &nbsp;&nbsp;01/21/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;29480 | &nbsp;&nbsp;$3.6517 | &nbsp;&nbsp;01/21/2026 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(300000) | &nbsp;&nbsp;$3.7700 | &nbsp;&nbsp;01/21/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;1000 | &nbsp;&nbsp;$3.5450 | &nbsp;&nbsp;01/21/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;400627 | &nbsp;&nbsp;$3.6940 | &nbsp;&nbsp;01/21/2026 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(13910) | &nbsp;&nbsp;$3.7033 | &nbsp;&nbsp;01/21/2026 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(18503) | &nbsp;&nbsp;$3.5519 | &nbsp;&nbsp;01/21/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;695.0000 | &nbsp;&nbsp;$4.1650 | &nbsp;&nbsp;01/22/2026 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(400000) | &nbsp;&nbsp;$4.4988 | &nbsp;&nbsp;01/22/2026 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(5400) | &nbsp;&nbsp;$4.5133 | &nbsp;&nbsp;01/22/2026 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(109268) | &nbsp;&nbsp;$4.4965 | &nbsp;&nbsp;01/22/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;9305 | &nbsp;&nbsp;$4.0142 | &nbsp;&nbsp;01/22/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;10000 | &nbsp;&nbsp;$4.2015 | &nbsp;&nbsp;01/23/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;244617 | &nbsp;&nbsp;$4.2772 | &nbsp;&nbsp;01/23/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;5383 | &nbsp;&nbsp;$4.1974 | &nbsp;&nbsp;01/23/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;29101 | &nbsp;&nbsp;$4.2066 | &nbsp;&nbsp;01/26/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;75240 | &nbsp;&nbsp;$4.2238 | &nbsp;&nbsp;01/26/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;77788 | &nbsp;&nbsp;$4.1838 | &nbsp;&nbsp;01/26/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;75000 | &nbsp;&nbsp;$4.2272 | &nbsp;&nbsp;01/27/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;50000 | &nbsp;&nbsp;$4.2396 | &nbsp;&nbsp;01/28/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;80000 | &nbsp;&nbsp;$4.0774 | &nbsp;&nbsp;01/29/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;31967 | &nbsp;&nbsp;$4.0343 | &nbsp;&nbsp;01/30/2026 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(25000) | &nbsp;&nbsp;$4.0688 | &nbsp;&nbsp;02/03/2026 |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**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.**<br>Olshan Frome Wolosky LLP<br>1325 Avenue of the Americas<br>New York NY 10019<br>212-451-2300

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

**02/19/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **361008105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Fund 1 Investments, LLC** | Name of reporting person<br>**Fund 1 Investments, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**5450251.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**5450251.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5450251.00** | Aggregate amount beneficially owned by each reporting person<br>**5450251.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**9.96%** | Percent of class represented by amount in Row (11)<br>**9.96%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**HC** | Type of Reporting Person (See Instructions)<br>**HC** | |

---

**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, WA, 98201

**Item 4. Purpose of Transaction**

The Reporting Person purchased the Shares based on the Reporting Person's belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Person, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Person may endeavor to increase or decrease its position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Person may deem advisable.

The Reporting Person intends to engage in discussions with the Issuer's board of directors (the "Board") and management team regarding operational and strategic opportunities for the Issuer to enhance stockholder value. The Reporting Person believes that the best path to maximizing value for the Issuer and its shareholders is the immediate commencement of a robust and comprehensive strategic alternatives process, actively marketed to both strategic and financial acquirors. The Reporting Person stands ready to participate in any such process and believes it is uniquely positioned to do so, having demonstrated a successful track record in executing take-private transactions -- including L'Occitane (completed October 2024) and Tile Shop Holdings (completed December 2025) -- and having participated as a credible, committed counterparty in numerous other sale processes in recent years. The Reporting Person intends to communicate these views directly to the Board and urges the Board to act promptly in the best interests of all shareholders.

The Reporting Person does not have any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Person intends to review its investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer's financial position, results and strategic direction, actions taken by the Issuer's management team and the Board, price levels of the Shares, conditions in the securities markets, general economic and industry conditions, and other investment opportunities available to the Reporting Person, the Reporting Person may in the future take such actions with respect to its investment in the Issuer as it deems appropriate including, without limitation, engaging in additional communications with management and the Board, engaging in discussions with the Issuer, stockholders of the Issuer or other third parties about the Issuer and the Reporting Person's investment, including potential business combinations or dispositions involving the Issuer or certain of its businesses or assets, including transactions in which the Reporting Person may seek to participate and potentially engage in, making recommendations or proposals to the Issuer concerning changes to the capitalization, ownership structure, Board structure (including Board composition), or suggestions for improving the Issuer's financial and/or operational performance, purchasing additional Shares, selling some or all of its Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, including swaps and other derivative transactions, or changing its intention with respect to any and all matters referred to in Item 4.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The aggregate percentage of Shares reported beneficially owned by the Reporting Person is based on 54,742,995 Shares outstanding as of November 4, 2025, 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 November 6, 2025.

As of the date hereof, the Reporting Person beneficially owned 5,450,251 Shares, constituting approximately 9.96% of the outstanding Shares.

**(b)**
The Reporting Person has sole power (i) to vote or direct the vote of, and (ii) to dispose or direct the disposition of, the 5,450,251 Shares held by the Funds.

**(c)**
The transactions in the Shares by the Reporting Person during the past 60 days 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.**

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 1,225,392 notional Shares, representing approximately 2.24% 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.

The Reporting Person holds cash-settled call options referencing an aggregate of 799,122 Shares, which have an exercise price of $5.00 per Share and expire on February 20, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 149,122 Shares, which have an exercise price of $5.00 per Share and expire on February 23, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 149,122 Shares, which have an exercise price of $5.00 per Share and expire on February 24, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 149,122 Shares, which have an exercise price of $5.00 per Share and expire on February 25, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 149,122 Shares, which have an exercise price of $5.00 per Share and expire on February 26, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 149,122 Shares, which have an exercise price of $5.00 per Share and expire on February 27, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 149,122 Shares, which have an exercise price of $5.00 per Share and expire on March 2, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 149,122 Shares, which have an exercise price of $5.00 per Share and expire on March 3, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 149,122 Shares, which have an exercise price of $5.00 per Share and expire on March 4, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 149,122 Shares, which have an exercise price of $5.00 per Share and expire on March 5, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 149,122 Shares, which have an exercise price of $5.00 per Share and expire on March 6, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 149,122 Shares, which have an exercise price of $5.00 per Share and expire on March 9, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 149,122 Shares, which have an exercise price of $5.00 per Share and expire on March 10, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 149,122 Shares, which have an exercise price of $5.00 per Share and expire on March 11, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 149,122 Shares, which have an exercise price of $5.00 per Share and expire on March 12, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 149,122 Shares, which have an exercise price of $5.00 per Share and expire on March 13, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on March 16, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on March 17, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on March 18, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on March 19, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 500,000 Shares, which have an exercise price of $4.00 per Share and expire on March 20, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on March 20, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on March 23, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on March 24, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on March 25, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on March 26, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on March 27, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on March 30, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on March 31, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 1, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 2, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 6, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 7, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 8, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 9, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 10, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 13, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 14, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 15, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 16, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 17, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 20, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 21, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 23, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 24, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 27, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 28, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 29, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on April 30, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on May 1, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on May 4, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on May 5, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on May 6, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on May 7, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on May 8, 2026.

The Reporting Person holds cash-settled call options referencing an aggregate of 74,561 Shares, which have an exercise price of $5.00 per Share and expire on May 11, 2026.

Other than as described herein, there are no contracts, arrangements, understandings, or relationships between the Reporting Person and any other person, with respect to the securities of the Issuer.

### 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.

**Reporting Person:** Fund 1 Investments, LLC

**Signature:** /s/ Benjamin C. Cable

**Name/Title:** Benjamin C. Cable, Chief Operating Officer

**Date:** 02/19/2026