Cover image courtesy of Resolute Farm
While John Stewart's expertise lies in finance and investments, his passion for horse racing has led him to embark on a journey, both in his home state of Kentucky and now in Australia, by purchasing equity in Storm Boy (Justify {USA}) prior to his luckless third in Saturday’s G1 Golden Slipper.
Stewart's entry into the racing world began with a love for the sport cultivated over three decades of residence in the Lexington area. His involvement escalated in 2022 when he acquired his first yearling at the Keeneland September Yearling Sale, marking the inception of his journey into breeding and racing.
John Stewart | Image courtesy of Keeneland
With a desire to make a significant impact on the sport he cherishes deeply, Stewart set his sights on acquiring a property to support his new venture in addition to preserving land, jobs, and the racing heritage of Kentucky.
“I've lived in the Lexington area for over 30 years. And so I have always followed the sport and acquired my first horse in 2022 at the Keeneland September Sale. As I started accumulating more horses, I started looking at farms in the Kentucky area because I really wanted to do something significant for the sport in Kentucky, I wanted to do something that would have a positive impact on the sport that I loved”.
“... I wanted to do something that would have a positive impact on the sport (racing) that I loved.” - John Stewart
Since establishing Resolute Farm in Midway, Kentucky last year, Stewart has spent fortunes accumulating a number of high-profile breeding and racing prospects to help realise his goals of developing a world-class breeding program.
A diamond collection of mares
Having already acquired 13 yearlings at last year’s Keeneland September Yearling Sale, totaling a spend of $8,425,000, Stewart continued his purchasing streak at the Fasig-Tipton November Sale and Keeneland November Breeding Stock Sales.
The standout acquisition was the dual Breeders’ Cup G1 Filly & Mare Sprint winner, Goodnight Olive (USA) (Ghostzapper {USA}), which marked the peak of Stewart’s spending spree. This particular purchase alone amounted to $6 million.
Other notable acquisitions during this spree included Queen Caroline (USA) (Blame {USA}), the dam of champion Forte (USA), secured for US$3 million (AU$4.6 million); Pizza Bianca (USA) (Fastnet Rock), Breeders' Cup Juvenile Fillies Turf winner, also acquired for US$3 million (AU$4.6 million); and Puca (USA) (Big Brown {USA}), the dam of Kentucky Derby winner Mage (USA) (Good Magic {USA}), obtained for US$2.9 million (AU$4.45 million).
John Stewart, Chelsey Stone and Gavin O'Connor | Image courtesy of Fasig-Tipton
Stewart's aggressive spree of investments extended into the OBS March 2YO In Training Sale last month, where he spent US$2.37 million (AU$3.64 million) on five juveniles. More recently, Stewart orchestrated a private acquisition of the promising 'TDN Rising Star', Sweet Rebecca (USA) (American Pharoah {USA}), and transferred her to the Chad Brown stable to continue her racing career.
A distinctive aspect of Stewart's approach to breeding is his emphasis on acquiring horses with pedigrees boasting rich bloodlines.
Recognising a trend of thinner pedigrees in American racing, Stewart has strategically imported mares from Europe to bolster the depth and quality of his breeding program. His selection process, focusing on accomplished racehorses with superior pedigrees, reflects his commitment to breeding not just winners, but potential Graded stakes winners.
“Part of my breeding program is to get these deeper, thicker families. And you see a little bit more concentration in that in some of the overseas markets, specifically in Europe. And you're starting to see them as well in Australia.
“We have been very strategic to go out and try to acquire some quality families that will help us create some foundation mares on our facility to help get our programme moving quicker. I'm trying to breed for a different quality of horse. We're not just after winners. We're after Graded stakes winners”.
“I'm trying to breed for a different quality of horse. We're not just after winners. We're after Graded stakes winners”. - John Stewart
In an attempt to fulfil that commitment, during a recent trip to Coolmore’s headquarters in Ireland, Stewart secured four elite mares flaunting remarkable pedigrees including Pink Dogwood (Ire) (Camelot {GB}), the full sister to the G1 Irish Derby winner Latrobe (Ire) who was purchased carrying a Frankel (GB) colt in-utero.
Also featured was Dramatically (USA) (War Front {USA}), the daughter of G1 Oaks runner-up Wonder Of Wonders (USA) (Kingmambo {USA}); Champagne (Ire) (Galileo {Ire}), a full sister to the G1 Breeders' Cup Turf and G1 Prix de l'Arc de Triomphe winner Found (Ire) and stakes winner Happen (USA) (War Front {USA}), a daughter of the dual Classic winner Alexandrova (Ire) (Sadler's Wells {USA}).
A breed-to-race strategy
Looking ahead, Stewart envisions Resolute Farm as a breeding powerhouse, with a focus on breeding to race rather than selling. He aspires to create a robust broodmare band and eventually introduce stallions into the market rather than stand than himself.
“We've been very active buying right now, but that's because we're trying to fill in all parts of our program with yearlings and 2-year-olds. So we have something fun to do while we're waiting for our own stock to grow out.
“But we're going to breed to race, especially the fillies, we'll breed them with the intention of creating good broodmares.
“I don't see the need to stand stallions. If I create a stallion, that's a big revenue generator for us. And then, as a part of the negotiation, you can always go back. If you’ve got quality mares, you have access to all of the quality stallions. I'm buying some stallion shares, because I'm trying to support the rest of the industry.”
“If you’ve got quality mares, you have access to all of the quality stallions. I'm buying some stallion shares, because I'm trying to support the rest of the industry.” - John Stewart
Stewart's venture into Australian racing, through the acquisition of Storm Boy, marks an exciting new chapter in his pursuits. While exploring opportunities in the Australian market, Stewart aims to learn from the innovative practices that have made Australian racing renowned globally.
“I don't know that we're going to be very active in the sales in Australia this year, but it is very interesting to us. The Australian racing environment here is really exciting and is really known globally as being very innovative. And so I'm down here to learn more and participate this week”.
