Once Upon a Farm: CAVU Funds Report Major Stakes

Once Upon a Farm, PBC Schedule 13G shows four related CAVU entities reporting combined holdings across multiple funds.

Rhea-AI Filing Summary

Once Upon a Farm, PBC Schedule 13G shows four related CAVU entities reporting combined holdings across multiple funds. Fund II holds 7,411,502 shares (17.7%), Fund III holds 2,274,219 shares (5.4%), Fund IV holds 731,396 shares (1.7%), and TNG holds 646,478 shares (1.5%). The filing bases percentages on 41,881,392 shares outstanding as of March 6, 2026. The reporting persons state sole voting and dispositive power over the listed shares.

Insights

Institutional Ownership Analyst

CAVU funds hold concentrated stakes, led by Fund II at 17.7%.

These Schedule 13G disclosures list direct beneficial ownership amounts and percent of class using the issuer's reported outstanding share base of March 6, 2026. The filing identifies sole voting and dispositive power for each fund over its shares.

Concentration is highest in Fund II; subsequent filings may show whether holdings change or if Form 13D triggers become relevant.

Corporate Governance Specialist

Single manager signatures indicate centralized control across reporting entities.

The form shows Brett Thomas signed for each reporting person as manager of their general partners, which is standard for fund groups. The filing attributes ownership via GP entities and LLCs as described in Item 4(a).

Voting and disposition powers are stated as sole for each fund; governance effects depend on future voting coordination among the funds.

Key Figures

Fund II shares: 7,411,502 shares Fund II percent: 17.7% Fund III shares: 2,274,219 shares +3 more

6 metrics

Fund II shares 7,411,502 shares directly owned by Fund II

Fund II percent 17.7% of common stock outstanding as of March 6, 2026

Fund III shares 2,274,219 shares directly owned by Fund III

Fund IV shares 731,396 shares directly owned by Fund IV

TNG shares 646,478 shares directly owned by TNG Investors LP

Shares outstanding used 41,881,392 shares as of March 6, 2026 (source: issuer 10-K)

Key Terms

Beneficially owned, Sole dispositive power, Percent of class

3 terms

Beneficially owned regulatory

"Amount beneficially owned: (1) Fund II directly owns 7,411,502 shares"

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.

Sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: (1) Fund II: 7,411,502 shares"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Percent of class financial

"The percent of class was based upon 41,881,392 shares of Common Stock outstanding"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

FAQ

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

What stake does CAVU Fund II hold in Once Upon a Farm (OFRM)?

CAVU Fund II directly holds 7,411,502 shares, representing 17.7% of common stock. This percentage uses the issuer’s reported 41,881,392 shares outstanding as of March 6, 2026, per the filing’s stated calculation.

Do the CAVU reporting persons have voting control over their shares?

Yes. The filing states each reporting fund has sole power to vote and sole power to dispose of the shares listed: Fund II, Fund III, Fund IV, and TNG each report sole voting and dispositive power for their respective holdings.

How were the percent ownership figures calculated in the filing?

Percentages are based on 41,881,392 shares outstanding as of March 6, 2026, according to the issuer’s Annual Report on Form 10-K referenced in the filing. Each fund’s percent of class is listed in Item 4(a) and Item 4(b).

Who signed the Schedule 13G for the CAVU reporting persons?

The Schedule 13G is signed by Brett Thomas in his capacity as Manager of the general partner of each reporting person. The signatures are dated May 15, 2026 and appear for each of the four reporting entities listed.

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

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Accepted by SEC EDGAR 05/15/2026 - 04:00 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Once Upon a Farm, PBC

(Name of Issuer)

Common Stock, par value $0.0001

(Title of Class of Securities)

68237F108

(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): 68237F108

1

Names of Reporting Persons

CAVU Venture Partners II, LP

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,411,502.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,411,502.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,411,502.00

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)

17.7 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 68237F108

1

Names of Reporting Persons

CAVU Venture Partners III, LP

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,274,219.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,274,219.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,274,219.00

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)

5.4 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 68237F108

1

Names of Reporting Persons

CAVU Venture Partners IV L.P.

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 731,396.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 731,396.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

731,396.00

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)

1.7 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 68237F108

1

Names of Reporting Persons

TNG Investors LP / DE

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 646,478.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 646,478.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

646,478.00

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)

1.5 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Once Upon a Farm, PBC
(b)	Address of issuer's principal executive offices: 950 Gilman Street, Suite 100, Berkeley, CA 94710
Item 2.
(a)	Name of person filing: This statement is being filed by CAVU Venture Partners II L.P. ("CAVU II"), CAVU Venture Partners III L.P. ("CAVU III"), CAVU Venture Partners IV L.P. ("CAVU IV") and TNG Investors LP ("TNG" and together with CAVU II, CAVU III and CAVU IV, the "Reporting Persons").
(b)	Address or principal business office or, if none, residence: The address of the principal business and principal office of each of the Reporting Persons is 515 West 20th Street, Suite 4W, New York, NY 10011.
(c)	Citizenship: Each of the Reporting Persons is incorporated under the laws of Delaware.
(d)	Title of class of securities: Common Stock, par value $0.0001
(e)	CUSIP Number(s): 68237F108
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: (1) Fund II directly owns 7,411,502 shares of Common Stock, representing approximately 17.7% of the outstanding Common Stock. (2) Fund III directly owns 2,274,219 shares of Common Stock, representing approximately 5.4% of the outstanding Common Stock. (3) Fund IV directly owns 731,396 shares of Common Stock, representing approximately 1.7% of the outstanding Common Stock. (4) TNG directly owns 646,478 shares of Common Stock, representing approximately 1.5% of the outstanding Common Stock. CAVU Venture Partners GP II, LP ("Fund II GP"), as the general partner of Fund II, and CAVU Venture Partners GP II, LLC ("Fund II GP LLC"), as the general partner of Fund II GP, each may be deemed to beneficially own the shares of Common Stock held directly by Fund II. CAVU Venture Partners GP III, LP ("Fund III GP"), as the general partner of Fund III, and CAVU Venture Partners GP III, LLC ("Fund III GP LLC"), as the general partner of Fund III GP, each may be deemed to beneficially own the shares of Common Stock held directly by Fund III. CAVU Venture Partners GP IV, LP ("Fund IV GP"), as the general partner of Fund IV and TNG, and CAVU Venture Partners GP IV, LLC ("Fund IV GP LLC"), as the general partner of Fund IV GP, each may be deemed to beneficially own the shares of Common Stock held directly by Fund IV and TNG.
(b)	Percent of class: See responses in Item 4(a) above. The percent of class was based upon 41,881,392 shares of Common Stock outstanding as of March 6, 2026, as reported by the Issuer in its Annual Report on Form 10-K filed on March 16, 2026.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: (1) Fund II: 7,411,502 shares of Common Stock. (2) Fund III: 2,274,219 shares of Common Stock. (3) Fund IV: 731,396 shares of Common Stock. (4) TNG: 646,478 shares of Common Stock.
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: (1) Fund II: 7,411,502 shares of Common Stock. (2) Fund III: 2,274,219 shares of Common Stock. (3) Fund IV: 731,396 shares of Common Stock. (4) TNG: 646,478 shares of Common Stock.
	(iv) Shared power to dispose or to direct the disposition of: 0
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.
	Not Applicable
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.

CAVU Venture Partners II, LP

Signature:	/s/ Brett Thomas
Name/Title:	Manager of General Partner of General Partner
Date:	05/15/2026

CAVU Venture Partners III, LP

Signature:	/s/ Brett Thomas
Name/Title:	Manager of General Partner of General Partner
Date:	05/15/2026

CAVU Venture Partners IV L.P.

Signature:	/s/ Brett Thomas
Name/Title:	Manager of General Partner of General Partner
Date:	05/15/2026

TNG Investors LP / DE

Signature:	/s/ Brett Thomas
Name/Title:	Manager of General Partner of General Partner
Date:	05/15/2026