With jockey Cornelio Velásquez aboard, the colt went off as the longest shot on the board at 72:1 odds.
He broke from post 18 and bobbled while drifting out but moved up to sixth right behind the leaders as they passed the grandstand for the first time.
It was less than another half length back to eventual Eclipse Award Champion Afleet Alex in third.
In the second leg of the Triple Crown, Closing Argument was fourth choice in a field of 14 at odds of 7:1.
Closing Argument stood at stud at Sequel Stallion in Ocala, Florida, until 2008, when he was moved to Hill 'n' Dale Farms in Lexington, Kentucky.