Activist Fund 1 Investments Maintains ~19% Economic Stake in Funko, Reports Active Trading
FNKO has more than doubled off its 52-week low of $2.22.
Summary
Activist investor Fund 1 Investments, LLC updated its Schedule 13D, revealing a continued significant economic interest of approximately 19% in Funko through direct shares and cash-settled swaps, alongside recent active trading.
Key Events · Ownership and Investor Activity · FNKO
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Updated Direct Ownership
Fund 1 Investments, LLC now beneficially owns 5,257,086 shares, representing 9.41% of Funko's outstanding Class A Common Stock.
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Significant Notional Exposure
The fund also holds cash-settled total return swap agreements providing economic exposure to an additional 5,248,201 notional shares, equivalent to 9.40% of outstanding shares.
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Active Trading Reported
Since the most recent Schedule 13D filing, Fund 1 Investments, LLC engaged in both purchases and sales of common stock, resulting in a net reduction of direct shares held.
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Total Economic Stake
The combined direct and notional exposure gives Fund 1 Investments, LLC an economic interest of approximately 18.81% in Funko.
Analysis · FNKO · Manufacturing
This Schedule 13D/A filing from activist investor Fund 1 Investments, LLC provides an update on its substantial economic interest in Funko. The fund maintains a combined direct and notional exposure of nearly 19% of the company, indicating a continued strong activist presence. While the filing shows net sales of direct shares since the last update, the significant overall economic stake, including a large position in cash-settled swaps, suggests the fund remains actively engaged and influential in the company's future direction.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 36.9% of the 966 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.66%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, FNKO was trading at $5.48 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $306.5M. The 52-week trading range was $2.22 to $6.09. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.