"Little Man's Dream" is the story of Spunky Davis. An older Thoroughbred trainer who like so many other little people dream of raising a horse good enough to run in the derby that first Saturday in May. Spunky meets young Bill Patton. Bill, a runaway from his abusive alcoholic father is looking for a job at the racetrack. His experience breaking horses gets him a job with Spunky. Bill takes over the chore of breaking the Spunky's two-stud colt Gray Light. Bill and the colt reach an understanding. A young lady apprentice jockey, Cassie Morgan takes over the daily riding chores. Later, Bill recommends that Spunky let the young lady ride Light in his first race. This is the real beginning of the "Dream." As a three-year-old Gray Light and Cassie take the racing world by storm, they finally qualify for the Derby Spunky has dreamed about for so long: being at the Derby that first Saturday in May.