World-Class TR9 Ranch and Equestrian Facility Purchased by Theorem Ranch

After Teton Ridge made the decision to step away from the equine breeding business, a new chapter has begun.

Jason Itkin and Kisha Itkin with Stevie Rey Von | Theorem Ranch

The former home of Teton Ridge's multi-million-dollar breeding program is under new ownership in 2026. In early 2025, Teton Ridge announced that they would be closing the doors to their equine breeding operation, which included a full liquidation of the horses involved in that program.

Prices soared on September 29, 2025, when top cutting stallions like Third Edge and Smooth Talkin Style sold at auction. The Teton Ridge breeding program also included barrel horses, such as Tres Chasin Babes PZ, formerly campaigned by three-time WPRA World Champion, Brittany Pozzi Tonozzi.

New Beginnings

Henrietta Wildsmith/The Times via Imagn Content Services, LLC

As a new year begins, it appears that a chapter has closed, allowing space for a new one to begin. Theorem Ranch is the proud new owner of the TR9 Ranch and Equestrian Facility, a stunning and meticulously built operation.

Encompassing hundreds of acres, the facility boasts multiple indoor and outdoor arenas, barns, specifically-designed areas for conditioning, training, and recovery, as well as full cattle handling facilities.

Not only is the ranch built for daily function and performance, it was also designed for large-scale events. Maintaining the beauty of a functioning Western ranch and elite training facility, the size and scale of the TR9 Ranch put it in a class of its own.

One of the most decorated reining and reined cowhorse trainers in history, Todd Bergen will be the General Manager of Theorem Ranch Texas. Corey Cushing and Craig Thompson will also be joining the team, training outside horses at the world-class facility.

Owned by Jason Itkin and Kisha Itkin, Theorem Ranch is based in Montana. The addition of an elite-level property in Texas will undoubtedly elevate Theorem's goals for the future.

Jason Itkin, a trial lawyer, and Kisha Itkin, the CEO and co-founder of the Theorem Collection (which includes Theorem Vineyards in Napa Valley and Theorem Ranch), are passionate about the equine industry and community.

In August 2025, industry greats Alvin and Becky Fults announced that the legendary $23 million sire, Stevie Rey Von, had been purchased by Theorem Ranch. Stevie Rey Von is a son of Metallic Cat out of Miss Ella Rey by Dual Rey.

He has sired countless cutting champions, as well as elite-level heading and heeling horses. Renowned cutting horse trainer and stallion manager, Beau Gaylean, remained the head of Stevie Rey Von's team.

With a top-tier facility, a remarkable stallion, and some of the best trainers in the world, Theorem Ranch is entering a new era in the Western industry.

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