UFC On FOX 23 Results: New Contender Emerges, "Cowboy" Cerrone Stunned

Valentina Shevchenko was ranked in the top spot of the UFC's female bantamweight division behind only champion Amanda Nunes entering Saturday night and UFC on FOX 23.

After Shevchenko's second round submission win over Julianna Pena, there is no doubt she is the top contender. Shevchenko and Nunes, who fought once before with the champion earning a win, squared off inside the Octagon to conclude the card.

Jorge Masvidal stopped Donald Cerrone's four-fight win streak, finishing "Cowboy" in the second round with strikes. Francis Ngannou had a first round TKO over former UFC heavyweight champion Andrei Arlovski, while Jason Knight submitted Alex Caceres.

Complete results are below:

* Valentina Shevchenko def. Julianna Pena via submission (armbar) at 4:29 of Round 2

* Jorge Masvidal def. Donald Cerrone via TKO (strikes) at 1:00 of Round 2

* Francis Ngannou def. Andrei Arlovski via TKO (strikes) at 1:32 of Round 1

* Jason Knight def. Alex Caceres via submission (rear-naked choke) at 4:21 of Round 2

* Sam Alvey def. Nate Marquardt via unanimous decision (29-28, 29-28, 29-28)

* Raphael Assuncao def. Aljamain Sterling via split decision (28-29, 29-28, 29-28)

* Li Jingliang def. Bobby Nash via KO (strike) at 4:45 of Round 2

* Jordan Johnson def. Luis Henrique da Silva via unanimous decision (30-27, 30-27, 30-27)

* Eric Spicely def. Alessio Di Chirico via submission (triangle choke) at 2:14 of Round 1

* Marcos Rogerio de Lima def. Jeremy Kimball via TKO (strikes) at 2:27 of Round 1

* Alexandre Pantoja def. Eric Shelton via split decision (29-28, 28-29, 29-28)

* Jason Gonzalez def. J.C. Cottrell via submission (D'arce choke) at 3:54 of Round 1