Highland Blade was an American Thoroughbred racehorse who won Grade I stakes on both dirt and turf, taking the Brooklyn, Marlboro Cup Invitational, and Pan American Handicaps. He was owned by Pen-Y-Bryn Farm, a partnership founded in 1971 by brothers William W. and Thomas M. Bancroft, Jr. of Muttontown, New York. They were sons of Edith Woodward Bancroft, who owned Highland Blade's sire, U.S. Racing Hall of Fame inductee Damascus, and their maternal grandfather was William Woodward Sr., who owned the famous Belair Stud.