The Maryland Jockey Club's 1998 financial reports, filed last week with state regulators, provide the first precise breakdown of ownership since the corporation took on a new investor last May.

President Joseph A. De Francis remains in control of the jockey club, corporate parent of Laurel Park and Pimlico Race Course, but his share of the operation's capital stock has fallen to 23.5 percent of Pimlico and 18.33 percent of Laurel.

The track's new investors, a subsidiary of Leucadia National Corp. of New York, which bought out a note owned by the late Jack Kent Cooke, is the largest single shareholder now, with 47 percent of Pimlico and 50 percent of Laurel.

De Francis' sister, Karin, and the jockey club's general counsel, Martin Jacobs, own the balance of the stock. In addition, a group of other investors owns a limited-partnership stake in Laurel.

De Francis, who paid himself a salary of $350,000 last year, retains 61.1 percent of the Class A voting stock in Laurel and 55 percent of voting stock in Pimlico.