Avispado

What gives the picture some context is where the horse is being trained. Menuisier's yard has sent out 20 winners already this season, which marks it out as a genuinely productive operation. Horses trained there have been winning races — just not this one, not yet. That gap between the yard's overall form and Avispado's individual results is the story worth watching. A well-performing stable does not usually give up on a 3-year-old after four runs; there is every chance Menuisier and his team see something in the horse that the results have not yet reflected.

The most recent run came just a day ago, so Avispado is very much in active campaigning mode. Whether a new trip, a different type of race, or simply more experience brings improvement is the open question. At this stage, it is a horse with work to do — but trained by someone who clearly knows how to get horses winning.