Week 4 Stock Report: 3 Risers, 2 Fallers After Colts’ Strong Win in London

What’s the state of the Indianapolis Colts’ roster after four weeks?

Football - NFL - Indianapolis Colts v Washington Commanders - Tottenham Hotspur Stadium, London, Britain - October 4, 2026 Indianapolis Colts' Charvarius Ward reacts Action Images via Reuters/Peter Cziborra | Action Images via Reuters

After a worrying 0-2 start to the 2026 season, the Indianapolis Colts have worked their way right back into the thick of things in the AFC with back-to-back victories, most recently a 30-17 win over the Washington Commanders in London. 

While four games is still a small sample size, each week brings us more information on which players are playing key roles for the Colts. Here’s a look at who’s trending up and who’s causing concern after an important victory overseas.

Riser- Seth McGowan

The Colts’ run game powered the offense on Sunday, accounting for just under half of the team’s total yardage and scoring all three touchdowns. And while Seth McGowan played a very small role, it’s becoming clearer that the Colts want him involved on the ground more as the season progresses. 

On a season-high 19 snaps, McGowan logged his best statline so far: six carries for 31 yards and a seven-yard catch. He also added 102 kick return yards. 

Football - NFL - Indianapolis Colts v Washington Commanders - Tottenham Hotspur Stadium, London, Britain - October 4, 2026 Indianapolis Colts' Seth McGowan in action with Washington Commanders' K'Lavon Chaisson Action Images via Reuters/Peter Cziborra | Action Images via Reuters

While the rushing numbers themselves are uninspiring, their proof that McGowan’s involvement in the offense is growing. For a team that leans so heavily on Jonathan Taylor to win games, having a developed and trusted backup to help keep Taylor fresh throughout the season will pay off in the long run. 

Riser- Jaylon Carlies

Oct 4, 2026; Tottenham, ENG; Indianapolis Colts linebacker Jaylon Carlies (57) celebrates with linebacker Akeem Davis-Gaither (51) after making an interception against the Washington Commanders during the third quarter at Tottenham Hotspur Stadium. Mandatory Credit: Kirby Lee-Imagn Images | IMAGN IMAGES via Reuters Connect

Jaylon Carlies opened up the second half with a bang, coming away with the Colts’ first interception of the season. But it wasn’t just the splash plays that made for an impressive performance. 

Carlies caught THAT.#INDvsWAS on NFLN pic.twitter.com/y0FdbDLmBM

— Indianapolis Colts (@Colts) October 4, 2026

Carlies paired five tackles with a 90.8 defensive grade from Pro Football Focus, despite playing a season-low of 30 snaps. While he was only on the field sparingly, the third-year man figured out a way to maximize his impact. 

Given some of the questions surrounding the Colts linebacker group this offseason and into the season, having a guy like Carlies step up with an impactful showing in limited action helps the Colts get closer to figuring out the best possible rotation for their current linebacker group. 

Riser- Charvarius Ward

Oct 4, 2026; Tottenham, United Kingdom; Washington Commanders wide receiver Treylon Burks (13) attempts to catch the ball against Indianapolis Colts cornerback Charvarius Ward (7) in the fourth quarter during the 2026 NFL London Games at Tottenham Hotspur Stadium. Mandatory Credit: Kirby Lee-Imagn Images | IMAGN IMAGES via Reuters Connect

Sunday was perhaps the best game Charvarius Ward has played since joining the Colts.

Ward was dominant in coverage, allowing just two receptions for 13 yards on seven targets, adding three pass breakups as well. He consistently stayed stride for stride with Washington's receivers and made life difficult whenever they tried to throw his way.

After a rocky start to his Colts tenure, Ward is beginning to look more like the corner Indianapolis expected when it signed him. If Sunday was any indication, his play could be trending in the right direction at an important time for the Colts' secondary.

Faller- Sauce Gardner

Sep 20, 2026; Kansas City, Missouri, USA; Indianapolis Colts cornerback Sauce Gardner (1) warms up prior to the game against the Kansas City Chiefs at GEHA Field at Arrowhead Stadium. Mandatory Credit: Jay Biggerstaff-Imagn Images | IMAGN IMAGES via Reuters Connect

While Charvarius Ward was playing his best game as a Colt, Sauce Gardner was playing his worst. 

Gardner allowed four catches on five targets for 117 yards and a touchdown, the most yards Gardner has allowed in a game in his career, according to Next Gen Stats. Even with third-string quarterback Athan Kaliakmanis in the game for Washington, their offense wasn’t afraid to attack the two-time All-Pro. 

#Colts CB Sauce Gardner allowed 4 receptions for 117 yards and a TD on 5 targets in coverage against the Commanders in Week 4, the most yards allowed in a game by Gardner in his career, according to @NextGenStats.

— Noah Compton (@nerlens_) October 4, 2026

The win helps to mask Gardner’s forgettable afternoon, which would’ve been under a microscope has the result fallen differently. Still, it was a noticeable step backwards from a player the Colts invested in to anchor their secondary. 

Faller- Josh Downs

Josh Downs simply wasn't involved nearly enough in a matchup that, when you look at it closely, seemed tailor-made for him.

With Indianapolis without their best deep threat in Alec Pierce, Ashton Dulin being banged up and Keenan Allen unavailable on Sunday, it seemed likely that the Colts pass game wouldn’t stray too far from around the line of scrimmage, and rely more on quick-hitting throws. 

Oct 4, 2026; Tottenham, ENG; Indianapolis Colts quarterback Daniel Jones (17) celebrates with wide receiver Josh Downs (2) after a touchdown against the Washington Commanders during the fourth quarter at Tottenham Hotspur Stadium. Mandatory Credit: Geoff Burke-Imagn Images | IMAGN IMAGES via Reuters Connect

As a result, you’d think, would be a busy day for Downs, as he’s the Colts’ best separator and creator after the catch. And Indianapolis did try a heavy dose of the screen game.

But the 25-year-old Downs only logged four targets, three of which he caught for a meager 16 yards. To keep it blunt, that’s nowhere near the impact he should be having in these kinds of games.