SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

SCHEDULE 13D

(Rule 13d-101)

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Bridger Aerospace Group Holdings, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

96812F102

(CUSIP Number)

Jeffrey E. Kelter

c/o Bridger Aerospace Group Holdings, Inc.

90 Aviation Lane

Belgrade, MT 59714

(406) 813-0079

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

January 25, 2024

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Explanatory Note

On February 23, 2023, Mr. Kelter and the other Reporting Persons named therein filed a statement on Schedule 13D (the “Original Schedule 13D” and, as so amended, this “Schedule 13D”) relating to the shares of Common Stock, par value $0.0001 per share (the “Common Stock”), of Bridger Aerospace Group Holdings, Inc., a Delaware corporation (the “Issuer”). This Amendment No. 1 (this “Amendment No. 1”) amends the Original 13D with respect to Mr. Kelter and is the initial Schedule 13D filing for Windy Point Investments LLC (together with Mr. Kelter, the “Reporting Persons”) with respect to the Common Stock. Unless otherwise indicated, all capitalized terms used herein shall have the meanings set forth in the Original Schedule 13D and, unless amended hereby, all information previously filed in the Original Schedule 13D remains in effect.

This Schedule 13D relates to the Common Stock of the Issuer. The principal executive office of the Issuer is located at 90 Aviation Lane, Belgrade, MT 59714.

This Schedule 13D is being filed jointly by the following Reporting Persons:

1. Jeffrey E. Kelter, Executive Chairman and indirect co-controller of Sponsor and Chairman of the board of directors (“Board”) of the Issuer, and

2. Windy Point Investments LLC (“Windy Point”), a Delaware limited liability company for which Mr. Kelter holds shared authority to direct the voting and disposition of the Common Stock. Because of the relationship of Mr. Kelter to Windy Point, Mr. Kelter may be deemed to beneficially own the shares of Common Stock held by Windy Point.

The address of the principal business office of Mr. Kelter is 386 Park Avenue South, FL 20, New York, NY 10016. The business address of Windy Point is c/o KSH Capital LP, 386 Park Avenue South, FL 20, New York, NY 10016.

During the five years prior to the date of this Schedule 13D, neither of the Reporting Persons have been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or have been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Pursuant to Rule 13d-1(k)(1) under Exchange Act, a joint filing agreement among the Reporting Persons is attached as Exhibit 99.1 to this Schedule 13D and incorporated herein by reference.

The information set forth in Item 4 and Item 6 is incorporated by reference into this Item 3.

On January 25, 2024, Sponsor commenced a distribution in kind (the “Distribution in Kind”) to its members, for no additional consideration from such members, with respect to the 2,528,189 shares of Common Stock (including Earnout Shares) and 9,400,000 Warrants. Pursuant to the Distribution in Kind, Mr. Kelter acquired (1) 228,224 shares of Common Stock and 470,000 shares of Common Stock underlying Warrants, held directly and (2) beneficial ownership of 527,800 shares of Common Stock and 2,350,000 shares of Common Stock underlying Warrants, which are held directly by Windy Point, of which Mr. Kelter is a beneficial owner. 527,800 shares of Common Stock and 2,350,000 shares of Common Stock underlying Warrants were distributed to Windy Point.

Parts (a) through (e) of Item 5 of the Original Schedule 13D are hereby amended with respect to the Reporting Persons as follows:

“(a) and (b) The responses of the Reporting Persons to rows (7) through (13) of the cover pages of this Schedule 13D are incorporated herein by reference.

The calculation in this Schedule 13D of the percentage of Common Stock outstanding beneficially owned by a Reporting Person is based on (i) 44,776,926 shares of Common Stock outstanding, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023, filed by the Issuer with the Securities and Exchange Commission on November 13, 2023.

As of January 25, 2024, after giving effect to the Distribution in Kind described in Item 4 of this Schedule 13D, 228,224 shares of Common Stock and 470,000 shares of Common Stock underlying Warrants are held by Mr. Kelter, which represents 1.5% of the outstanding Common Stock. 527,800 shares of Common Stock and 2,350,000 shares of Common Stock underlying Warrants are held directly by Windy Point, of which Mr. Kelter is a beneficial owner, which represents approximately 6.1% of the outstanding Common Stock.”

(c) Other than as disclosed in this Schedule 13D, the Reporting Persons have not effected any transactions in the Common Stock during the 60 days prior to the date of Amendment No. 1 to this Schedule 13D.

(d) The responses of the Reporting Persons to Item 2 and Item 5(a) and (b) of this Schedule 13D are incorporated herein by reference. Under certain circumstances, members or partners of a Reporting Person, as the case may be, could have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, shares of Common Stock owned by such Reporting Person.

(e) Not applicable.

Except as described in this Schedule 13D, to the knowledge of the Reporting Persons, there are no contracts, arrangements, understandings or relationships (legal or otherwise), including, but not limited to, the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies, among the persons named in Item 2 or between such persons and any other person, with respect to any securities of Issuer, including, but not limited to, any securities pledged or otherwise subject to a contingency the occurrence of which would give another person voting power or investment power over such securities.

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.

Dated: January 26, 2024

Exhibit 99.1

JOINT FILING AGREEMENT

Pursuant to and in accordance with the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 13d-1(k)(1) thereunder, the undersigned hereby agree to the joint filing on behalf of each of them of any filing required by such party under Section 13(d) of the Exchange Act or any rule or regulation thereunder (including any amendment, restatement, supplement, and/or exhibit thereto) with respect to the common stock, par value $0.0001 per share, of Bridger Aerospace Group Holdings, Inc., a Delaware corporation, and further agree to the filing, furnishing, and/or incorporation by reference of this Agreement as an exhibit thereto. Each of them is responsible for the timely filing of such filings and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate. This Agreement shall remain in full force and effect until revoked by any party hereto in a signed writing provided to each other party hereto, and then only with respect to such revoking party. This Agreement may be executed in any number of counterparts all of which taken together shall constitute one and the same instrument.

Dated: January 26, 2024

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