Security Analysis
The Security Analysis Podcast
Trey Henninger: Concentrated Microcap Investor

Trey Henninger: Concentrated Microcap Investor

Trey Henninger is an ultra-concentrated microcap investor. He is an engineer who saves & invests his personal funds. He blogs about his personal portfolio and investing concepts for DIY investors.

He hunts for ideas in the micro and nano-cap segment of the market where there is less competition. His typical hunting ground is companies below a $50 million market cap. He runs an extremely concentrated portfolio of only 5 names.

It’s worth noting that microcaps carry significant risk and require intensive security analysis. As always, this substack is not advice and you should always do your homework before making any investment.

This was a great conversation and I hope you enjoy it!


  1. Trey’s substack, DIY Investing.

  2. Trey’s YouTube channel.

  3. Trey’s Twitter feed.


Nothing on this podcast is investment advice.

The information in this podcast is for information and discussion purposes only. It does not constitute a recommendation to purchase or sell any financial instruments or other products.  Investment decisions should not be made with this article and one should take into account the investment objectives or financial situation of any particular person or institution.

Investors should obtain advice based on their own individual circumstances from their own tax, financial, legal, and other advisers about the risks and merits of any transaction before making an investment decision, and only make such decisions on the basis of the investor’s own objectives, experience, and resources.

The information contained in this podcast & show notes is based on generally-available information and, although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured, and such information may be incomplete or condensed.

Investments in financial instruments or other products carry significant risk, including the possible total loss of the principal amount invested. This podcast, the host, and the guest do not purport to identify all the risks or material considerations that may be associated with entering into any transaction. This host & guest accepts no liability for any loss (whether direct, indirect, or consequential) that may arise from any use of the information contained in or derived from this content.

Security Analysis
The Security Analysis Podcast
This podcast explores investment strategies, economics, personal finance, and stock analysis. It features real conversations and analysis to inform, educate, and entertain. Note that nothing in this podcast is investment advice and it is for entertainment & discussion purposes only. Do your own due diligence before making any investment.