Cover image courtesy of Kenton Wright (Race Images)
Spring is the time of year that OTI Racing’s Terry Henderson adores. On Saturday, OTI’s 3-year-old filly De Armas (NZ) (Ardrossan) lines up in the time-honoured G1 Thousand Guineas for trainer Chris Waller. Recent winners include stablemate five-time Group 1 winner Joliestar (Zoustar) who runs in Saturday’s G1 The Everest.
“We’ve got plenty of ammunition, we only need to get them into the right races,” Henderson said.
As well as De Armas, on Saturday they also have Knobelas (NZ) (Belardo {Ire}) running in the G3 Angst Stakes, Athabascan (Fr) (Almanzor {Fr}) and Sam Hawkens (Ire) (Galileo {Ire}) in the G3 St Leger Stakes, as well as Docklands (GB) (Massaat {Ire}) running in the G1 Queen Elizabeth II Stakes at Ascot overnight.
Hunting for tried horses is the core to OTI’s model
De Armas was seen at the juvenile trials in September 2025, winning over 600 metres before winning on debut. Sent to Listed Counties Challenge Stakes in November, she kept her record unbeaten before heading to the R.Listed Karaka Million 2YO where she ran fourth. She was purchased privately by OTI, which is common practice for how OTI source most of their horses.
“It's the basis of the business. We've never been overly active in the yearling market. We tend to buy a few more these days than we used to. For nearly 40 years, we’ve always bought going horses, like Dance The Day Away who won the West Australian Derby back in 1991 and Doriemus won the Melbourne Cup in 1995,” Henderson said.
Terry Henderson | Image courtesy of OTI Racing
“We’ve had a lot more in the last 25 years since OTI's been going. It’s been our model.”
De Armas resumed in Sydney at three with a fifth in Sydney before running second in the G1 Flight Stakes to Global Goal (Pinatubo {Ire}) at her most recent start.
“She’s by Ardrossan and she's a nice filly. She looked very promising in New Zealand before we bought her. She was a filly that we thought needed time,” Henderson said.
“When she came over, we gave her a good long break and then we brought her along slowly. She had a slight hiccup, so we were back behind the eight ball for a couple of weeks, but then she ran a super race first up. On the back of that, we went to the Flight Stakes where she ran exceptionally well and laid the foundation to come down here for the Thousand Guineas.”
Global Goal | Image courtesy of The Image Is Everything
Like dual Group 1 winner Well Written (Written Tycoon) she is a graduate of the New Zealand Bloodstock Online Yearling Sale. De Armas was bought by Benner Racing for NZ$16,000 from Elsdon Park, and while OTI didn’t give a figure for what they paid for her as Listed winner, it’s safe to say it was a lot more.
“We do plenty of due diligence when we buy them, we double vet them and so on, and we are very cautious around their soundness. But at least we know that they can gallop,” Henderson said.
“The trade-off is the difference that you pay. Clearly horses like De Armas don't come inexpensive.
“You've then got to weigh that up against whether you take that punt or try your luck with a yearling. And yearlings are not cheap when you add another $60 to $70,000 on top (of the purchase price) to get them to the race or to find out whether they can gallop.”
De Armas is the fifth foal of two-time winner Regal Winks (NZ) (Rip Van Winkle {Ire}) who was quite exposed as a broodmare when De Armas sold as a yearling with only a maiden winner on her record at the time. This is the family of young sire Extreme Warrior as well as Group 1 winner All Thrills Too (St Covet).
Regal Winks (NZ) | Image courtesy of Race Images
“We've always been an organisation that's been short on risk. We think risk mitigation is one of the cornerstones of our success. Be it through taking out the right type of insurance policies, through to double checking horses when you buy them with vets, to doing as much work as you can to assess their form to make sure you are buying the right horse.
“It's all part of the process, to reduce the risk, which is at its greatest when you buy a younger horse.”
Plenty of options to watch over the spring
OTI have several horses who could potentially make the G1 Melbourne Cup field this year including the recently imported Small Fry (Ire) (Harzand {Ire}). The 6-year-old gelding has mixed flat and jumps form and is coming off a last start win at York in mid-August over two miles.
“We've got the Geelong Cup next week. And we've got one of Joseph O'Brien's horses there, Small Fry. I looked at him work this morning, we are very happy with him and he'll go into the Geelong Cup,” Henderson said.
“We probably need to win it to guarantee a spot (in the Melbourne Cup) and if we only run a place, we'll be on the cusp because Small Fry is currently not qualified. We've got to be active there. Small Fry is one of those horses that's below the radar.”
Phillip and Tommy Stokes-trained Deakin (Fr) (Australia {GB}) has been in Australia since the spring of 2024 and heads to the Moonee Valley Cup, alongside John O'Shea and Tom Charlton-trained King Pedro (NZ) (Eminent {Ire}) who won the Listed Grafton Cup over the winter. The Moonee Valley Cup will be run at Flemington this year while Moonee Valley undergoes an upgrade.
“King Pedro ran a nice race the other day in the Hill Stakes (when fourth).
“He’s a very naturally talented horse. He's one of those X factor type horses. King Pedro has that enormous turn of foot and that makes him a very exciting horse for racing. John and Tom are happy with the way he came out of the Hill Stakes, so he'll head to the Moonee Valley Cup.
King Pedro (NZ) | Image courtesy of Georgia Young Photography
“Deakin hasn't had a lot of luck in his last two runs. He ran very well first up, but the last two he's not had the luck that he needs. He needs a one of those horses that needs racing room, and Flemington is perfect for both those horses, who are big track horses.”
G1 Queensland Derby winner Warmonger (NZ) (War Decree {USA}) hasn’t been seen since he injured a tendon in the 2025 G1 Sydney Cup.
“We might even kick Warmonger off in the Crystal Mile. That's a possibility. He won the Queensland Derby a couple of years ago. He's back in work and he will have a trial on Monday,” Henderson said.
Warmonger (NZ) | Image courtesy of Trackside Photography
“In Sydney, we've got Perfumist, who might go to The Invitation. The Big Dance is on her radar.
“She’s a very talented mare who didn't run all that well last time. The whole event got a bit too much for her, and she lost it that first 200 metres of the race. She’s got a number of options like the Five Diamonds and The Invitation and The Big Dance.”
Perfumist (NZ) (El Roca) won the G3 Tibbie Stakes when resuming for this campaign for trainer Bjorn Baker, but was only 16th in the G1 Epsom Handicap last start. With earnings over $850,000, she has eight wins dating back to her debut victory as a 2-year-old at Bathurst. OTI along with Baker, Phil Cataldo Bloodstock and Clarke Bloodstock paid NZ$190,000 for her from Westbury Stud’s New Zealand Bloodstock Ready To Run Sale draft in 2023.
Perfumist (NZ) | Image courtesy of Georgia Young Photography
“Mindgames will come down here for a nice race on Cup Day. At one stage, I think he was favourite for the Spring Champion Stakes, but he had a bit of a hiccup.”
Mindgames (Maurice {Jpn}), a 3-year-old gelding, is unbeaten in two starts for the John O’Shea and Tom Charlton yard. His trainers paid NZ$170,000 for him at the New Zealand Bloodstock Ready To Run Sale from BMD Bloodstock’s draft.
“Wymark is interesting because he'll go to a stakes race on Melbourne Cup Day and he won the Seymour Cup last weekend. He used to be trained by Michael Freedman. And Gavin Bedggood now trains him and he's won 3 country cups now and is stepping up into Listed company class. He's a very nice horse that Gavin's done a great job with.”
Wymark (NZ) (Savabeel) won the G2 Tulloch Stakes as a 3-year-old in 2024, and his Listed Seymour Cup victory was his fourth since Gavin Bedggood paid $32,500 for him on Inglis Digital in October 2025.
Wymark (NZ) | Image courtesy of Sportpix
“We've got a couple of horses in New Zealand or heading to New Zealand.
“Grocer's Girl with Tony Pike will head to the Guineas and we’ll probably send one or two over for the New Zealand Cup like Sam Hawkins or Athabaskan who are a touch below the top level in Melbourne.”
Grocer’s Girl (NZ) (Tarzino {NZ}) is still a maiden after five starts but did run second in the Listed Champagne Stakes at two. She was second at Ellerslie at her most recent start. She is the third foal of Vendella (Exceed And Excel) whose first foal is a winner.
With four runners in stakes company on Saturday, led by a Group 1 class filly in De Armas, OTI have plenty of firepower to look forward to for the rest of the spring.
Grocer's Girl (NZ) | Image courtesy of Kenton Wright (Race Images)
