| Chip Honcho — 2026 Preakness Stakes Profile | |
|---|---|
| Horse | Chip Honcho |
| Sire | Connect |
| Owner | Leland Ackerley Racing, LLC, James Sherwood, Jode Shupe, and John Cilia |
| Trainer | Steven M. Asmussen |
| Jockey | J. Ortiz |
| Post Position | 6 |
| Morning Line Odds | 5-1 |
| Running Style | Pacesetter / Early Presser |
| Top Speed Figure | 119 (HRN) |
| Race | 151st Preakness Stakes, Laurel Park |
| Distance | 1 3/16 Miles (Dirt) |
| Previous Start | 5th. 2026 Louisiana Derby (G2), Fair Grounds |
For the complete field and current Preakness Stakes odds, cross-reference official entries at BUSR, where you can pull full past performances and official scratches as they come in through race day.
Chip Honcho is the Steve Asmussen entry in the 151st Preakness Stakes, and Asmussen is not a trainer who enters horses to fill fields. The Connect colt has been a consistent presence at Fair Grounds, winning the 2025 Gun Runner Listed Stakes and the Churchill Downs MSW before stepping up through the graded ranks. Jose Ortiz takes the mount from post 6 at 5-1 — co-favorite territory alongside Taj Mahal and Incredibolt. His resume shows a horse who has faced quality competition repeatedly and found a way to be competitive at every level. The Louisiana Derby fifth last out is the number that needs explaining, but Asmussen's willingness to point directly at the Preakness tells you everything about his confidence in this horse.
What makes Chip Honcho genuinely dangerous is his figure trajectory and the Asmussen-Ortiz combination. His 119 debut at Keeneland was elite juvenile speed. His Churchill Downs MSW win at 113 showed he could produce big figures on a main track. His Risen Star second at 111 proved he belongs in Grade II company. The Louisiana Derby fifth at 103 is a regression, but it came in a field where Emerging Market won at 117 — one of the strongest Grade II performances of the entire prep season. Let's break down what you need to know before building your Preakness Stakes betting ticket around Chip Honcho.
| Date | Track | Race Type | Distance | Surface | Finish | 1st Place (Fig) | 2nd Place | 3rd Place | Time |
|---|---|---|---|---|---|---|---|---|---|
| 3/21/26 | FG | G2 | 1 3/16M | Dirt-Fast | 5th (103) | Emerging Market (117) | Pavlovian (117) | Golden Tempo (116) | 1:55.18 |
| 2/14/26 | FG | G2 | 1 1/8M | Dirt-Fast | 2nd (111) | Paladin (112) | Chip Honcho (111) | Golden Tempo (104) | 1:49.14 |
| 1/17/26 | FG | G3 | 1 1/16M | Dirt-Fast | 4th (102) | Golden Tempo (104) | Mesquite (103) | Carson Street (103) | 1:44.98 |
| 12/20/25 | FG | Listed Stakes | 1 1/16M | Dirt-Fast | 1st (103) | Chip Honcho (103) | Liberty National (102) | Crown the Buckeye (102) | 1:44.76 |
| 11/20/25 | CD | Msw | 1M | Dirt-Muddy | 1st (113) | Chip Honcho (113) | Marauder (111) | Fuzzbuster (110) | 1:37.6 |
| 10/16/25 | KEE | Msw | 7F | Dirt-Fast | 2nd (119) | Dr. Kapur (124) | Chip Honcho (119) | Fuzzbuster (119) | 1:23.71 |
Post 6 is a meaningful draw for Chip Honcho because it positions him directly between the two scenarios that define his race. From post 6, Ortiz can push forward and challenge Taj Mahal at post 1 for the early lead — turning this into a contested pace that benefits closers — or he can rate back a length and let Taj Mahal set the fractions while Chip Honcho stalks in a comfortable second or third position. That second option is the one Asmussen likely prefers. A horse who pressed hard for the lead in the Louisiana Derby and faded to fifth is not a horse you want burning maximum early energy again. Post 6 gives Ortiz the option to rate, and that flexibility is a genuine asset in a race with this much early speed.
The Louisiana Derby fifth deserves context. Emerging Market won that race at 117, Pavlovian ran second at 117, and Golden Tempo ran third at 116 — that was one of the strongest Grade II fields of the prep season. Chip Honcho running 103 in that company does not embarrass him; it reflects the caliber of the competition. His Risen Star second at 111 came just three weeks earlier and showed he can produce elite figures when the trip cooperates. The question is whether Asmussen has him right and whether Ortiz can find the right position from post 6 in a race that will have multiple horses wanting the front.
Chip Honcho is the central figure in the pace scenario of this race. His decision in the first two furlongs determines the outcome for nearly every other horse in the field. If Ortiz pushes Chip Honcho hard against Taj Mahal at post 1, both horses burn energy, and the closers — Iron Honor, Incredibolt, Talkin — come running in the stretch. If Ortiz rates Chip Honcho back into a stalking position, Taj Mahal gets uncontested pace control and becomes very dangerous. Asmussen is one of the shrewdest tacticians in American racing; his pre-race instructions to Ortiz will be the most important factor in how this race is run from the front.
The most favorable scenario for Chip Honcho as a win bet is moderate early fractions where he sits second behind Taj Mahal through the first half mile, conserves energy, and accelerates past a tiring leader in the final turn. His Risen Star second at 111 showed he can produce exactly that kind of performance when the trip cooperates. The Louisiana Derby fifth showed what happens when he gets into a pace duel early. Asmussen knows this. At 5-1, you are betting on the trainer getting the trip right. Check the Belmont Stakes betting guide for Triple Crown planning this spring.
Here is the practical breakdown for how sharp bettors should think about using Chip Honcho on a ticket at 5-1.
Win Single: Legitimate. Asmussen, Ortiz, a 119 debut figure, a Risen Star second at 111, and a post 6 draw that allows tactical flexibility — Chip Honcho at 5-1 is a well-supported win single for bettors who trust the trainer to optimize the trip.
Exacta: Chip Honcho on top with Iron Honor or Incredibolt underneath. If he rates off the pace and the race sets up for a sustained run, a closer will likely fill second. A two-horse exacta from Chip Honcho costs $4 at $2 base.
Trifecta: Chip Honcho on top, Iron Honor and Talkin in second and third. This covers the scenario where he rates the pace perfectly and the two best closers fill the board behind him.
Superfecta: Chip Honcho on top, Iron Honor and Incredibolt in second and third, with Talkin and The Hell We Did spread across the fourth slot at $0.10 base. Check the full horse betting guide for structuring exotic tickets efficiently.
For multi-leg plays across the Triple Crown, visit the bet on Preakness Stakes page and the Triple Crown bonus page at US Racing.
CHIP HONCHO looking good while doing paddock schooling alongside trainer Steve Asmussen this Thursday afternoon at @LaurelPark ahead of the Preakness 2026
Chip Honcho's Preakness Chances
Chip Honcho drew the #6 post position, which has historically produced the most Preakness winners since 1990.
Chip Honcho opened at 5-1 on the morning line for the 151st Preakness Stakes at Laurel Park on May 16, 2026. He drew post position 6 in the 14-horse field. The 5-1 reflects his consistent Fair Grounds prep trail, his Risen Star (G2) second, and the Asmussen-Ortiz combination's reputation for delivering horses at peak condition in major races.
Chip Honcho is trained by Steven M. Asmussen and ridden by Jose Ortiz from post 6 at Laurel Park. Asmussen is one of the most accomplished trainers in American racing history and Ortiz is a championship-level jockey with extensive Grade I experience at two-turn routes.
Chip Honcho is a legitimate win single at 5-1 and a natural trifecta key. Pair him on top with Iron Honor and Talkin underneath for a pace-rate scenario structure. A $0.10 superfecta with Chip Honcho on top and closers filling the remaining slots gives you full coverage. Visit the BC free bet page at US Racing for current promotions.
The writing team at US Racing is comprised of both full-time and part-time contributors with expertise in various aspects of the Sport of Kings.
