John and Martha Jane Mulholland own Mulholland Springs Farm in Lexington, Kentucky. Their 173-acre commercial breeding farm is a boutique operation, focusing on quality over quantity. They purchased Beautiful Treasure (Unbridled) for $600,000 at the 2004 Keeneland November sale, and sold his foal, Flying Private, for $700,000 at the 2007 Keeneland September Yearling Sale. The Mulhollands have enjoyed much success as breeders, typically consigning a strong group of yearlings at the Keeneland September sale, and they've campaigned graded winners Investalot and Shadow Miss.