UNITED STATES 
SECURITIES AND EXCHANGE COMMISSION 
Washington, D.C. 20549 
 
SCHEDULE 13G
Under the Securities Exchange Act of 1934 


Championship Auto Racing Teams, Inc.
------------------------------------------------------------------------------- 
(Name of Issuer) 
 
 

Common Stock, $.01 par value 
------------------------------------------------------------------------------- 
(Title of Class of Securities) 
 
158711101
------------------------------------------------------------------------------ 
(CUSIP Number) 
 
Kellogg Capital Group, LLC  
14 Wall Street, 27th Floor 
New York,  New York, 10005 
(212) 433-7777 
------------------------------------------------------------------------------- 
(Name, Address and Telephone Number of Person Authorized to 
Receive Notices and Communications) 
 
December 31, 2004
------------------------------------------------------------------------------- 
(Date of Event Which Requires Filing of this Statement) 
 
 
Check the appropriate box to designate the rule pursuant to which this Schedule 
is filed: 
 
[X] Rule 13d-1(b) 
 
[ ] Rule 13d-1(c) 
 
[ ] Rule 13d-1(d) 



*The remainder of this cover page shall be filled out for a 
reporting person's initial filing on this form with respect 
to the subject class of securities, and forany subsequent
amendment containing information which would alter
the disclosures provided in a prior cover page.  
 
The information required in the remainder of this cover page 
shall not be deemed to be "filed" for the purpose of 
Section 18 of the Securities Exchange Act of 1934("Act")
or otherwise subject to the liabilities of that 
section of the Act but shall be subject to all other
provisions of the Act (however,see the Notes). 


CUSIP NO. 158711101                           Page 2 of 5 Pages 
------------------------------------------------------------------- 
      NAMES OF REPORTING PERSONS 
 1    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 
 
      Kellogg Capital Group, LLC 
      Tax I.D.:  13-4067067 
------------------------------------------------------------ 
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 
 
 2                                                              (a) [_] 
                                                                (b) [_] 
--------------------------------------------------------- 
      SEC USE ONLY 
 3 
 
---------------------------------------------------------------- 
      CITIZENSHIP OR PLACE OF ORGANIZATION 
 4 
 
      New York 
----------------------------------------------------------------- 
                                              SOLE VOTING POWER 
                                        5 
   NUMBER OF 
                                              759,700
   SHARES           ------------------------------------------------- 
                                              SHARED VOTING POWER 
   BENEFICIALLY                         6 
 
   OWNED BY                                   0 
                    ------------------------------------------------- 
   EACH                                     SOLE DISPOSITIVE POWER 
                                        7 
   REPORTING 
                                              759,700
   PERSON           ---------------------------------------- 
                                        SHARED DISPOSITIVE POWER 
   WITH:                                8 
                                              0 
---------------------------------------------------------------------- 
         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
 9 
          759,700
 
--------------------------------------------------------------------- 
         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN 
10       SHARES (SEE INSTRUCTIONS) 
                                                                   [_] 
--------------------------------------------------------------------------- 
         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 
11 
         5.2%
 
----------------------------------------------------------------------- 
         TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 
12 
         BD 
 
--------------------------------------------------------------------------------


Item 1. 
 
         (a)  Name of Issuer 
 
              Championship Auto Racing Teams, Inc.
 
         (b)  Address of Issuer's Principal Executive Offices 
              
              755 W Big Beaver Road            
              Suite 800
              Troy, Michigan 48084
              
Item 2. 
 
         (a)  Name of Person Filing 
 
              Kellogg Capital Group, LLC 
 
         (b)  Address of Principal Business Office or, if none, Residence 
 
              14 Wall Street, 27th Floor 
              New York, NY 10005 
 
         (c)  Citizenship 
 
              New York 
 
         (d)  Title of Class of Securities 
 
              Common Stock, $.01 par value
 
         (e)  CUSIP Number 
 
              158711101
 
Item 3. 
 
              If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) 
or (c), Check Whether the Person Filing is a: 
 
              (a) [X]  Broker or dealer registered under Section 15 of the 
                       Exchange Act. 
 
              (b) [ ]  Bank as defined in Section 3(a)(6) of the Exchange Act 
 
              (c) [ ]  Insurance company as defined in Section 3(a)(19) of the 
                       Exchange Act. 
 
              (d) [ ]  Investment company registered under Section 8 of the 
                       Investment Company Act. 
 
              (e) [ ]  An investment adviser in accordance with 
                       Rule 13d-1(b)(1)(ii)(E); 
 
              (f) [ ]  An employee benefit plan or endowment fund in accordance 
                       with Rule 13d-1(b)(1)(ii)(F); 
 
              (g) [ ]  A parent holding company or control person in accordance 
                       with Rule 13d-1(b)(1)(ii)(G); 
 
              (h) [ ]  A savings association as defined in Section 3(b) of the 
                       Federal Deposit Insurance Act; 
 
              (i) [ ]  A church plan that is excluded from the definition of an 
                       investment company under Section 3(c)(14) of the 
                       Investment Company Act; 
 
              (j) [ ]  Group, in accordance with Rule 13d-1(b)(1)(ii)(J).


Item 4. Ownership. 
 
    (a)Amount beneficially owned: 759,700
    (b)Percent of class: 5.2%
    (c)Number of shares as to which the person has: 759,700
 
    (i)Sole power to vote or to direct the vote: 759,700
   (ii)Shared power to vote or to direct the vote: 0 
   (iiiSole power to dispose or to direct the disposition of: 759,700
   (ivShared power to dispose or to direct the disposition of: 0 
 
Item 5.  Ownership of Five Percent or Less of a Class. 
This Schedule 13G is not being filed to report that the reporting person
has ceased to be the owner of more than 5% of the outstanding shares of
common stock of the company. 

Item 6.  Ownership of More than Five Percent On behalf of another person.  No
other person has the right to recieve or the power to direct the receipts of
dividends from, or the proceeds from the sale of, the securities of
Championship Auto Racing Teams, Inc. held by Kellogg Capital Group, LLC. 

  
Item 7.  Identification and Classification of the Subsidiary Which Acquired the 
Security Being Reported on by the Parent Holding Company. This Schedule
13G/A is not being filed by a parent holding company or a 
control person pursuant to Rule 13d-1(b)(1)(ii)(G). 
 
Item 8.  Identification and Classification of Members of the Group. 
 
     This Schedule is not being filed by a group pursuant to Rule 
13d-1(b)(1)(ii)(J). 
 
Item 9.  Notice of Dissolution of a Group. 
 
     Not applicable. 
 
Item 10. Certification. 
 
     (b) This Schedule 13G is being filed pursuant to Rule 13d-1(b):


By signing below I certify that, to the best of my knowledge and belief, 
the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not 
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired
and are not held in connection with or as a participant in any 
transaction having that purpose or effect.  
 
 
                                    SIGNATURE 
 
After reasonable inquiry and to the best of my knowledge and belief, I certify 
       that the information set 
forth in this statement is true, complete and correct.  
 
                                               February 8, 2005
                                         ---------------------------------- 
                                                      Date 
 
                                           /s/ Matthew Brand 
                                     ---------------------------------- 
                                              Matthew Brand 
                                           Title: Managing Director 

_____________________________________________________