The inaugural running of the event was on 17 August 1985 as the
A Phenomenon Stakes, the sixth event on the card that day and was won by the
Richard E. Dutrow Sr. trained Cognizant, who won in a time of 1:09. The event was named after the winner of the 1983
Jim Dandy Stakes at Saratoga, A Phenomenon. A Phenomenon suffered a life-ending injury in the 1984
Forego Handicap. The event was classified as
Grade III in 1990 and in 1995 upgraded to Grade II. In 2000, the event was renamed to honor
Alfred Gwynne Vanderbilt Jr. who had died in 1999. Vanderbilt was a very prominent
Thoroughbred owner who also served as
chairman of the board of the
New York Racing Association from 1971 to 1975. In 2010 the event was upgraded to Grade I. The 2019 winner Imperial Hint set a new track record for the six-furlong distance, winning for the second time in a time of 1:07.92. ==Records==