Located in the gently rolling hills along Iron Works Pike, Spendthrift Farm stands as a powerhouse of the Thoroughbred industry. The 1,200-acre farm boasts a roster of 29 stallions who stand at stud, the most in North America. It has built a rich legacy of breeding champions. At the center of Spendthrift’s stallion sales operation is Mark Toothaker, a man whose knowledge of and passion for horses is seemingly endless.
Mark knows horses. He knows the lineage, the racing history, how much they earned on the track, how many times the stallions cover mares in the breeding shed. He knows the horse farms, the history and the connections. He talks seamlessly about each stallion standing at Spendthrift. It’s as if he has had conversations with each of the amazing horses that are stabled there. He is genuinely happy in his work.
As stallion sales manager, Mark and his team are responsible for the care, breeding and management of the stallions; with a goal to ensure they are well-cared for and perform at their best. He manages and promotes one of the most prestigious stallion rosters in North America. Spendthrift offers breeders access to some of the most influential sires in the industry. Among them is the farm’s crown jewel, Into Mischief — a stallion whose rise to dominance is the stuff of legend.
“When we first started standing Into Mischief, we begged people to breed to him at $7,500,” Mark recalled. “Now, he stands for $250,000 and brings in over $40 million a year for the farm. Into Mischief has topped the general sire list for six consecutive years, producing Kentucky Derby winners Authentic and Mandaloun. His success echoes the farm’s long tradition of excellence, with Spendthrift standing 10 Kentucky Derby winners and two Triple Crown champions.
The beginning
Mark’s love affair with horse racing began as a teenager.
“My dad would meet a group of guys at The Cottage Cafe in the small town of Van Buren, Arkansas, where I’m from,” Mark said. “They would drive the two hours to Hot Springs. My basketball season was over so I convinced my dad to take me with him. One of the men told me I needed to bet my age (15) on the daily double. I didn’t even know what that was. I bet two dollars on a daily double — the one and five horse — and it paid $375.” That win set the course for Mark’s life.
Mark attended Louisiana Tech’s Equine Program but left college early to work hands-on at the track.
“I lived in a tack room and did a little bit of everything,” Mark said.
From hot walking and grooming to training horses himself, he experienced just about every facet of the racing world. He gained invaluable experience by working under legendary trainers like Wayne Lukas, Joe Cantey and Gerald Romero. Mark left the horse industry to serve in the U.S. Army and was stationed at Fort Drum, New York, with the 10th Mountain Division. After his military service, he knew that working in the horse industry was what he wanted to do with his life.
Finding home in thoroughbred country
In 2004, Mark and his wife Malory moved to Midway, Kentucky, for Mark to manage Liberty Farm for longtime breeder Allen Poindexter.
“We looked like the Clampetts loading all of our stuff up from Arkansas to head this way,” Mark said, shaking his head. “We lived on the farm for three years until it was sold. Mallory wanted to stay in the area so we began looking for a house. We turned left out of the farm on Leestown Road and the very first subdivision was Duckers. We pulled into Duckers and found a house.
“We love Frankfort. All of our kids graduated from Franklin County and our youngest, Luke, will graduate in the spring. It’s been a great spot for us. I’ve tried to help raise money for the sports programs at the high school and we are very much invested in the community.”
Mark’s time at Liberty Farm would be the beginning of greater things.
“During my time there, I got a call from Spendthrift asking if we would be open to taking boarders. The farm had been sold and the new owner didn’t want any boarders. That’s how I met Mr. Hughes,” Mark said. The late D. Wayne Hughes bought Spendthrift Farm in 2004. His daughter and son-in-law, Tamara Hughes and Eric Gustavson, now own the farm.
Once Spendthrift Farm’s breeding operation was up and running at full speed, Wayne Hughes offered Mark a full-time position. That was in 2011. He’s been there ever since.
“Getting here was just a stroke of luck by meeting Wayne Hughes,” he said. “He told me I had a lot of hustle and that was what he was looking for … I’m so glad he was alive when Authentic won the Derby.”
Beyond the business, Mark remains in awe of the sport and the history surrounding it.
“The horses thrive here because of what’s beneath our feet,” he said. “Kentucky’s limestone-rich soil provides the calcium that seeps into the soil and produces the famous bluegrass. That helps develop big strong horses.”
Mark’s journey from an unknowing teenager placing his first bet, to a key figure in a top breeding operation right here in Kentucky, is proof that in the horse industry, and in life, hard work and good fortune go hand in hand.
