St Nicholas Abbey was an honourable third behind Little Mike in the Breeders' Cup Turf at Santa Anita.
Ballydoyle's five-year-old revelled on his return to fast ground, but could not match his heroics of 12 months ago.
Joseph O'Brien's partner galloped on strongly towards the death, but Little Mike, the Arlington Million hero, had already flown.
Point of Entry also finished powerfully on the far rail, but had to make do with second place.
Joseph O'Brien said of St Nicholas Abbey: "I was a little wide turning in, but he ran a great race."
French raider Shareta similarly made late gains, but finished fifth under Christophe Lemaire.
Ballydoyle's other contender, Treasure Beach, was never a factor and came home 10th under Jamie Spencer.
Little Mike's trainer, Dale Romans, said: "This is a perfect little horse - he runs so hard all the time."
Aidan O'Brien added of St Nicholas Abbey: "We were delighted with him - it was a solid run.
"He got into a nice rhythm and I didn't think anything went wrong.
"He did have a tough race in the Arc on heavy ground and he didn't pick up the way he can do in the straight.
"I hope he will be around and keep going next year."
O'Brien said of Treasure Beach: "The way he ran, I think maybe he wants a little break."
