Gallant Fox was the bay son of the imported stallion Sir Gallahad III. He was an average two year old, winning only two of seven starts.

But his three year old year was spectacular. With his trainer, James "Sunny Jim" Fitzsimmons's skill and patience, Gallant Fox developed magnificently, weighing in at over 1200 pounds and standing 16.1 hands. As a three year old in 1930, Gallant Fox won nine out of ten starts. The Preakness was run on May 9th, 8 days before the Kentucky Derby. Coming out of retirement when he lost money in the stock market crash of 1929, jockey Earl Sande rode the Fox to victory by 3/4 length. It rained heavily the day of the Derby. There were 14 other horses competing but Sande guided Gallant fox to yet another victory, this time winning by two lengths. On June 7, he won at the Belmont by three lengths over Whichone, who was considered his leading rival. Three weeks later he added the Dwyer Stakes to his list of triumphs.

A stunning loss was to come at the Travers Stakes, the same place where Man O' War lost his one and only race 11 years earlier. Whichone was giving Gallant Fox a run for his money when he pulled up lame. This should have given Gallant Fox the winning edge but a 100-1 long shot named Jim Dandy raced passed him. Jockey Earl Sande eased him up, realising that the duel with whichone had zapped his strength. Whichone would never race again but Gallant Fox went on to win his next four starts.
At the end of the year, Gallant Fox went to stud. He was the sire of the 1935 Triple Crown winner Omaha. He died November 13, 1954 and was buried at the Claiborne farm, alongside his sire and dam. Although he won several big races in his career, he will be most remembered as the second horse to win the Triple Crown.