The weekend of Oct. 2-4 was one of the busiest and most important of the year for North American Thoroughbred racing with marquee stakes races that serve as prep races for the 2026 Breeders Cup World Championships held coast to coast as well as internationally in France. From a stellar week of racing at Belmont Park to Fall Stars weekend at Keeneland to a super Saturday at Santa Anita Park and beyond, let’s explore some of the key takeaways from the weekend.

Charting a Different Course: All eyes were on U. S. S. Valor in the $500,000 Champagne Stakes Saturday at Belmont Park after his runaway 13 ¼-length maiden win Sept. 5 at Saratoga Race Course earned blazing speed figures. The Team Valor International homebred War of Will colt did not disappoint for Hall of Fame trainer Shug McGaughey, surging away from runner-up Gaudreau to score by 6 ½ lengths in his stakes debut.

That victory stamped U. S. S. Valor the one to beat in the FanDuel Breeders’ Cup Juvenile Presented by Thoroughbred Aftercare Alliance Oct. 30 at Keeneland, right? Not quite ... Team Valor confirmed to Daily Racing Form’s David Grening on Sunday that the Breeders’ Cup is not on the agenda for U. S. S. Valor, who will navigate a different path with an eye on the 2027 Kentucky Derby Presented by Woodford Reserve. “I’ve never had a horse anywhere near this quality before, and I’ve had some good horses,” Team Valor’s Barry Irwin said. “He is just beyond words. I can’t believe I bred him; I can’t believe I own him.”

Hughes dominates. (BENOIT photo)

Unbeaten and Unchallenged: There is an outside chance that even if U. S. S. Valor had been pointed to the Breeders’ Cup Juvenile, Hall of Fame trainer Bob Baffert’s Hughes might have been the betting favorite in the 1 1/16-mile race. Now, it’s hardly even a question. The bay Into Mischief colt improved to 4-for-4 with a six-length score as the 3-10 favorite in Saturday’s $300,500 American Pharoah Stakes Presented by DK Horse at Santa Anita Park. The American Pharoah was his third stakes win and second Grade 1 victory, and Hughes has won his four races by margins ranging from 4 ¾ lengths to 7 ¾ lengths. A victory in the Breeders’ Cup Juvenile would surely wrap up the Eclipse Award as champion 2-year-old male for Hughes, and he’ll no doubt be the morning-line favorite.

“I just think he's getting better and better. Baby steps to progress in the right way,” Baffert said after his first try navigating two turns. “He fits well in the Breeders’ Cup now, so hopefully we can get him there healthy.”

Daryz scores historic Arc win. (Coady Media)

Daryz’s Historic Double: Female superstars Treve (2013-’14) and Enable (2017-’18) swept back-to-back editions of the Qatar Prix de l’Arc de Triomphe in the last 15 years, however no male had won consecutive editions of since Alleged won Europe’s premier weight-for-age race in 1977-’78. That changed Sunday at Longchamp when Daryz stormed to a 1 ¼-length triumph, his ninth victory in 12 career starts for his owner, the racing and breeding operation founded by the late Aga Khan. A 4-year-old by Sea The Stars, Daryz defeated Minnie Hauk by a head as a 3-year-old in the 2025 edition but proved much the best Sunday in France to become the ninth horse to win multiple runnings of the Arc.

Rhetorical back at his best. (Coady Media)

Perfect Mile Prep: After winning four times in five starts in 2025, with his lone defeat a fourth-place finish by two lengths in the FanDuel Breeders’ Cup Mile Presented by PDJF, Rhetorical has not visited the winner’s circle as frequently in 2026. That’s mostly due to competition as Saturday’s Coolmore Turf Mile Stakes was his fifth Grade 1 race in as many starts this year, but the 5-year-old Not This Time gelding looks like he is peaking at the perfect time. He set the pace in the one-mile race and finished with an explosive final quarter-mile in :22.28 (according to the Equibase GPS chart) for a repeat victory in the Turf Mile, his second win of the year and also his second win in three races on the grass at Keeneland. Rhetorical will face tough European runners among a stronger cast in the Breeders’ Cup Mile – and also very likely more pace pressure – but he could be very hard to catch in the stretch Oct. 31 at Keeneland.

 “He ate well last night and looked great jogging this morning,” winning trainer Will Walden said Sunday. “Obviously we’ll keep a close eye on him over the next couple days, but right now he couldn’t have come out of it any better.”

Dotsy rolls in Frizette. (Adam Coglianese/NYRA)

Untangling the 2-Year-Old Fillies: Odds on favorites were defeated in Friday’s Darley Alcibiades Stakes (favored Summer Starlet) at Keeneland as well as in Saturday’s Frizette Stakes (Libby Lloyd) at Belmont Park and Oak Leaf Stakes Presented by Oak Tree Racing Association (Quattro Passi) at Santa Anita Park. Emphatic shone brightest in the Alcibiades, edging away from Summer Starlet in the stretch. Dotsy dragged jockey Kendrick Carmouche forward on the turn while five wide and dominated by 2 ¾ lengths in the Frizette, returning $25.02 on a $2 win bet. Upset winner Domain Expansion pressed the pace from second in the Oak Leaf and proved a standout in a seven-length romp. Winning trainers Brendan Walsh (Emphatic), John Grabowski (Dotsy), and Leonard Powell (Domain Expansion) all will be seeking their first win in the $2 million Breeders’ Cup Juvenile Fillies in a wide-open edition of the race Oct. 30 at Keeneland.

“She’s doing great and is on her way home to Finger Lakes – I am still on cloud nine,” Grabowski said of Frizette winner Dotsy on Sunday. “My phone is absolutely blowing up and it’s unbelievable. What an incredible experience – once in a lifetime.”

Making Sense of Breeders’ Futurity: American History charged from last to first to reel in game runner-up Coach Pope, named after University of Kentucky men’s basketball coach Mark Pope, and pacesetter Q B Rocket to win the $648,125 Claiborne Breeders’ Futurity by a length Saturday at Keeneland. The Breeders’ Futurity win is tough to evaluate for American History, a chestnut Constitution colt trained by five-time Breeders’ Cup Juvenile winner Todd Pletcher. On one hand, he overcame a poor start by charging from 5 ½ lengths back to prevail on a dirt track that can be tough on closers, especially with the short-stretch configuration for races at 1 1/16 miles. On the other hand, his final eighth of a mile in :13.53 and final quarter-mile in :27.07 must be improved upon if he is to win in four weeks against a better group of 2-year-olds in the $2 million Breeders’ Cup Juvenile Oct. 30 back at Keeneland.

Irad Ortiz and Nakatomi. (Coady Media)

No Denying Nakatomi: Nakatomi improved to five wins and two seconds in eight starts at Keeneland with a last-to-first rally in the $368,238 Stoll Keenon Ogden Phoenix Stakes on Friday. The Phoenix victory came on a dirt main track that is typically challenging for closers and at the same track and distance as the $2 million Cygames Breeders’ Cup Sprint Oct. 31. “The race could possibly set up for him the way his running style is,” winning trainer Wesley Ward said Saturday when looking ahead to the Breeders’ Cup Sprint. “It’s a sprint so everyone is going to be rolling early, and we may get lucky with his late run like we did yesterday.”

Evanescence flies at the finish. (Coady Media)

Another Horse for Course: Another runner with a proven affinity for Keeneland is Saturday’s $400,000 Thoroughbred Club of America Stakes winner Evanescence, who improved to 3-for-3 at Lexington track by rallying from off the pace to edge front-running Praying by a neck. Evanescence completed her final eighth of a mile in :12.32 and the final quarter-mile in :24.20. She could carry appealing odds in the $ 1 million Breeders’ Cup Filly & Mare Sprint.

Vanta rides the wave. (BENOIT photo)

Vanta-stic: The overwhelming favorite for the Surfer Girl Stakes Sunday at Santa Anita Park, Vanta lived up to expectations with an explosive rally to win the one-mile turf race in 1:35.17. The winning time was significantly faster than that of the Zuma Beach Stakes for males at the same distance two races earlier, which was won by Repo Man in 1:36.05. Vanta completed her final quarter-mile in :22.45 to improve to 3-for-3 for trainer Jeff Mullins and will next target the $1 million John Deere Breeders’ Cup Juvenile Fillies Turf Oct. 30 at Keeneland.

The 'Belle' of Belmont Park's Matron. (Chelsea Durand/NYRA)

Belmont Juvenile Blitz: It’s always a challenge for U.S. 2-year-olds facing a host of European invaders in the Breeders’ Cup Juvenile turf races, but Saturday’s stakes races at Belmont could prove impactful. Brickyard Belle and Good to Be King both appear to be on target for the Juvenile Turf Sprint after winning the Matron Stakes and Futurity Stakes, respectively, as the favorites. Brickyard Belle was the more impressive of the two, completing six furlongs on firm turf in 1:08.26 (compared with 1:09.06 for Good to Be King) with her final quarter-mile in a blistering :22.82.

Likewise, Domestic Agenda sparkled as the even-money favorite when posting a 4 ½-lenth win in the Miss Grillo Stakes, a 1 1/16-mile turf race for 2-year-old fillies, and upset winner Let Em Know and runner-up Roscoe Goose both finished fast in the Pilgrim Stakes at 1 1/16 miles. The Miss Grillo and Pilgrim are “Win and You’re In” prep races for the John Deere Juvenile Fillies Turf and Brown Advisory Juvenile Turf, respectively. Let Em Know utilized a final quarter-mile in :23.02 to win the Pilgrim by a half-length at 12.69-1 odds, while runner-up Roscoe Goose was finishing even faster with a final quarter in :22.86. Both could be overlooked in the Juvenile Turf.