Traeger, Inc. amendment to a Schedule 13G/A reports that Ontario Teachers Pension Plan Board and its affiliate 2594868 Ontario Ltd beneficially own 493,861 shares of common stock, representing 18.0% of the class. The filing states these figures are calculated on March 6, 2026 adjusted to reflect the 1-for-50 reverse stock split effected on March 17, 2026. The amendment clarifies that OTPP, 2594868, AEA TGP HOLDCO LP and TCP TRAEGER HOLDINGS SVP LLC and certain affiliates are members of a group under Rule 13d-5.
Positive
None.
Negative
None.
Insights
Clarifies group status and shared voting/dispositive power.
The amendment specifically states the Reporting Persons hold 493,861 shares with shared voting and dispositive power, and it attaches a Rule 13d-5 group classification including AEA and TCP. The filing cites the company 10-K as the source for outstanding share counts.
Legal implications are procedural: group status affects aggregate reporting obligations and coordination rules under securities law. Subsequent filings by other group members are the natural next disclosures.
Large passive stake reported after reverse split; voting power is shared.
The filing ties the 18.0% ownership to an adjusted outstanding base of 2,745,030 shares (reflecting a 1-for-50 reverse split from March 17, 2026). It notes shared voting/dispositive authority rather than sole control.
Investor impact depends on whether the stake is passive under Schedule 13G or coordinated under 13D mechanics; the amendment indicates group affiliation, which could affect future collective disclosures.
Key Figures
Reported shares owned:493,861 sharesPercent of class:18.0%Adjusted shares outstanding:2,745,030 shares+2 more
5 metrics
Reported shares owned493,861 sharesAmount beneficially owned by OTPP and 2594868
Percent of class18.0%Percent of common stock based on adjusted outstanding shares
Adjusted shares outstanding2,745,030 sharesOutstanding shares after giving effect to 1-for-50 reverse split (as used in filing)
Reported pre-split outstanding137,251,532 sharesCompany-reported outstanding shares as of <date>March 6, 2026</date>
Reverse split ratio1-for-50Reverse stock split effected on <date>March 17, 2026</date>
"Amendment to a Schedule 13G/A reports beneficial ownership"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
beneficially ownedregulatory
"Amount beneficially owned: 493,861 The reported securities are beneficially owned"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
shared dispositive powerregulatory
"Shared Dispositive Power 493,861.00 shared dispositive power"
reverse stock splitmarket
"gives effect to the 1-for-50 reverse stock split effected by the Company"
A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Traeger, Inc.
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
89269P202
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
89269P202
1
Names of Reporting Persons
ONTARIO TEACHERS PENSION PLAN BOARD
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
ONTARIO, CANADA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
493,861.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
493,861.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
493,861.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
18.0 %
12
Type of Reporting Person (See Instructions)
FI
Comment for Type of Reporting Person: Based on 2,745,030 shares of common stock outstanding which is based on 137,251,532 shares of common stock outstanding as of March 6, 2026, as reported in Traeger, Inc.'s (the "Company") Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 6, 2026, and gives effect to the 1-for-50 reverse stock split effected by the Company on March 17, 2026, as disclosed in its Form 8-K filed with the SEC on March 17, 2026.
SCHEDULE 13G
CUSIP Number(s):
89269P202
1
Names of Reporting Persons
2594868 Ontario Ltd
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
ONTARIO, CANADA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
493,861.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
493,861.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
493,861.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
18.0 %
12
Type of Reporting Person (See Instructions)
FI
Comment for Type of Reporting Person: Based on 2,745,030 shares of common stock outstanding which is based on 137,251,532 shares of common stock outstanding as of March 6, 2026, as reported in the Company's Form 10-K filed with the SEC on March 6, 2026, and gives effect to the 1-for-50 reverse stock split effected by the Company on March 17, 2026, as disclosed in its Form 8-K filed with the SEC on March 17, 2026.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Traeger, Inc.
(b)
Address of issuer's principal executive offices:
533 South 400 West, Salt Lake City, UT, 84101
Item 2.
(a)
Name of person filing:
(i) ONTARIO TEACHERS PENSION PLAN BOARD ("OTPP"); and
(ii) 2594868 ONTARIO LTD, a wholly-owned subsidiary of OTPP ("2594868," and together with OTPP, the "Reporting Persons").
(b)
Address or principal business office or, if none, residence:
Both Reporting Persons: 160 Front Street West, Suite 3200 Toronto, Ontario, M5J 0G4.
(c)
Citizenship:
Both Reporting Persons are incorporated under the laws of the Province of Ontario, Canada.
(d)
Title of class of securities:
Common Stock, par value $0.0001 per share
(e)
CUSIP No.:
89269P202
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
493,861
The reported securities are beneficially owned by the Reporting Persons.
Mr. Greg Nielsen ("Mr. Nielsen") and Mr. Christian Dunn ("Mr. Dunn") may be deemed to have power to dispose of the shares held by 2594868 because of a delegation of authority from the President and Chief Executive Officer of OTPP to Mr. Nielsen and Mr. Dunn and because of a delegation of authority to the President and Chief Executive Officer of OTPP from the Board of Directors of OTPP. Mr. Nielsen and Mr. Dunn expressly disclaim beneficial ownership of such shares that are held by or may be acquired by the Reporting Persons.
(b)
Percent of class:
18.0 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
493,861
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
493,861
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
Consistent with the disclosure in the latest Form S-1 filed with the SEC on July 27, 2021, the Reporting Persons are filing the Amendment to clarify that the Reporting Persons, AEA TGP HOLDCO LP ("AEA") and TCP TRAEGER HOLDINGS SVP LLC ("TCP") and entities affiliated with AEA and TCP are members of a "group" as defined in Rule 13d-5 of the Securities Exchange Act of 1934, as amended with respect to the Company's common stock.
Please refer to AEA's and TCP's Schedule 13G filing for additional information with respect to AEA and TCP's beneficial ownership of Company's common stock.
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
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.
ONTARIO TEACHERS PENSION PLAN BOARD
Signature:
/s/ Jonathan Law
Name/Title:
Jonathan Law/Managing Director, Corporate & Investments Compliance
Date:
05/11/2026
2594868 Ontario Ltd
Signature:
/s/ Jonathan Law
Name/Title:
Jonathan Law/Managing Director, Corporate & Investments Compliance
What stake does Ontario Teachers hold in Traeger (COOK)?
Ontario Teachers and affiliate report beneficial ownership of 493,861 shares. This equals 18.0% of the class using the adjusted outstanding share count stated in the filing.
How did the reverse split affect the ownership calculation?
The filing uses an adjusted base of 2,745,030 shares after giving effect to a 1-for-50 reverse stock split effective March 17, 2026, which produced the reported 18.0% figure.
Who is included in the 'group' named in the amendment?
The amendment clarifies that OTPP, 2594868 Ontario Ltd, AEA TGP HOLDCO LP and TCP TRAEGER HOLDINGS SVP LLC and certain affiliates are members of a Rule 13d-5 group with respect to the common stock.
What voting and dispositive powers are reported for the shares?
The Reporting Persons report shared voting power and shared dispositive power over 493,861 shares, with no sole voting or sole dispositive power shown in the filing.
On what baseline outstanding share counts is the percentage based?
The filing states the 18.0% figure is based on an adjusted outstanding total of 2,745,030 shares, which itself reflects an original reported total of 137,251,532 shares as of March 6, 2026 prior to the reverse split.
