HAMILTON, Bermuda: Two-time defending America’s Cup champions Oracle Team USA endured their first defeat on Bermuda’s Great Sound on Sunday but remained atop the standings in the 35th America’s Cup qualifiers.

With the holders participating in the round-robin qualifiers against their would-be challengers for the first time, Team USA could gain a bonus point to take into next month’s finals if they top the standings.

Skippered by Australian Jimmy Spithill, Oracle were looking good after beating Britain’s Land Rover BAR by 39 seconds and SoftBank Team Japan by 54 to counter their 39-second loss to Sweden’s Artemis Racing.

Team USA have five points followed by Emirates Team New Zealand and Land Rover BAR with three each.

On a day when shifting winds made work for the tacticians, it was a fascinating matchup between Spithill’s Team USA and the Land Rover BAR helmed by Ben Ainslie — who is leading the British syndicate after helping Oracle to victory in 2013.

The British team grabbed the advantage at the start and were ahead until gate three, but a nose-dive off their foils after the turn let Oracle seize the advantage.

Team New Zealand, who fell to Oracle’s mighty comeback in the 2013 America’s Cup in San Francisco, were a perfect two-for-two on Sunday, beating Team Japan and Land Rover BAR.

The British outfit led by Ben Ainslie — racing after frantic overnight repairs to their catamaran damaged in a cash with Team Japan on Saturday — only remained abreast of New Zealand in the standings thanks to the two bonus points they brought in from the America’s Cup World Series.

The second day of racing started with the biggest upset so far as Groupama Team France, soundly beaten in two races on Saturday, shocked Artemis for its first point.

Artemis skipper Nathan Outteridge said the loss to France provided a valuable lesson for the clash with Team USA, prompting him to be more aggressive in the pre-start.

“We learned a lot in the race against France, where we put ourselves in a vulnerable position,” Outteridge said. “Jimmy Spithill really wanted the leeward end at the start but we positioned ourselves nicely, came in with a lot of pace and managed to get the hook on them.”

The Swedish boat gained an advantage of three boat lengths heading out on the course. The team kept the lead and even as Oracle Team USA closed in on leg five Artemis were able to hang on.

“Things didn’t really go according to plan and we needed to come back strong,” Outteridge said. “We had a hard look at ourselves and all the guys onboard stepped it up and this is more like we should be racing.”