Oct 8, 2026, 11:31 AMFund Management
First Eagle’s Bill Hench Pivots From AI to Small Cap Housing Bets After 33% Gain
First Eagle's Bill Hench pivoted from AI after a 33% first-half gain, favoring small-cap bets on a recovery in U.S. housing construction stocks instead.
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Summary
First Eagle fund manager Bill Hench stepped away from the artificial-intelligence trade after a reported 33% gain in the first half, according to a MarketWatch report published October 8, 2026. He shifted toward small-capitalization investments positioned for a recovery in U.S. housing construction.
Only a short feed summary was available. It did not identify Hench’s fund, individual holdings, transaction dates, portfolio allocations, or whether the 33% gain referred to the fund or another performance measure.
Positives
- A reported 33% first-half gain preceded Hench’s strategy shift away from artificial intelligence.
- Small-capitalization investments could benefit if Hench’s expected U.S. housing-construction recovery materializes.
- Hench moved toward a distinct recovery theme rather than remaining concentrated in the artificial-intelligence trade.
Risks & concerns
- Hench stepped away from artificial intelligence, reducing participation in that trade if its gains continue.
- The housing-construction recovery remains a portfolio bet, and the feed summary provided no supporting market data.
- The available summary omitted the fund name, holdings, allocation sizes, transaction dates, and basis of the reported 33% gain.
Primary sourceMarketWatch.com - Top Storieshttps://www.marketwatch.com/story/after-a-33-gain-in-the-first-half-this-fund-manager-grew-tired-of-the-ai-trade-heres-where-hes-looking-now-1783b3a4?mod=mw_rss_topstories
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