When ready to cook, set the Traeger to 225℉ and preheat (~15min w/lid closed).

Wrap each filet with a slice of bacon and secure with a tooth pick. Season liberally with Traeger Prime Rib rub.

Place steaks directly on the grill grate and cook until the internal temperature reaches 115℉, start checking after about 25 minutes.

Remove steaks from grill and set aside. Increase grill temperature to High (450) and let preheat 10 minutes.

For the Red-Wine Reduction Sauce: In a sauté pan over medium heat, melt 1 Tbsp butter and shallots and sauté until translucent. Add red wine and beef stock and bring to a simmer. Reduce the heat and let simmer until reduced by half. Add rosemary, remove from heat and whisk in the 1 Tbsp cold butter. Season with salt to taste.

When grill is hot, place steaks back on the grill and sear for 5-7 minutes on each side or until the internal temperature reaches 125℉ for medium-rare.

Remove from grill and let rest 5-7 minutes before serving.

Serve with spoonful of red wine reduction sauce over the top. Enjoy!