Multi-billionaire George Soros has a very successful investing track record that’s helped him build his estimated $7.2 billion net worth, even after he gave away about $32 billion of his fortune. And during his 30-year tenure as a day-to-day investment manager, his average annual return reportedly came in at a stupendous 30%.

And also indicating that Soros has been successful in recent years, his current fund  — Soros Fund Management — currently has about $25 billion of assets under management. 

Now, the 92-year-old investor is handing off control of those assets to his son Alex, making this an ideal time to take stock of a few of the stocks that make up the last bought under the father’s direction, what the purchases could tell us about George’s view of sectors and the economy, and a number of the other large institutions that bought sizable amounts of the names in the second quarter of 2023.

Aptiv (APTV)

Soros' fund increased the number of shares of Aptiv (US:APTV) that it owned last quarter by 82.8%, raising its total position in APTV stock to 330,000 shares.

Aptiv develops and sells automobile components, focusing on parts that are widely used in electric vehicles and Advanced Driver Assistance Systems (ADAS). 

Additionally, Aptiv, in partnership with Hyundai (KOR:005380), owns an autonomous driving joint venture called Motional. The latter company, in partnership with Uber (US:UBER), is operating robotaxis in Las Vegas. 

The fund's decision to raise its investment in APTV suggests that it is upbeat on electric vehicles, the U.S. auto sector and the U.S. economy. The move may also indicate that Soros is bullish on the future of ADAS and autonomous driving in the U.S. 

Among the other major institutions that bought meaningful amounts of APTV last quarter were Rockefeller Capital Management, which added 8,602 shares and JPMorgan which bought 686,478 shares.

Nike (NKE)

Soros Fund Management acquired 45,000 shares of Nike (US:NKE) stock last quarter, bringing its total holding in the name to 211,720 shares. 

Nike's fiscal fourth quarter results, reported on June 29, were not too stellar, as the sneaker maker's net income came in at $1.03 billion, down from $1.44 billion during the same period a year earlier, while its sales only increased about 5% year-over-year to $12.83 billion.

NKE has been hurt by reduced consumer spending globally, but, judging by Soros Fund Management's purchase of the company's shares in Q2, the fund likely expects that trend to reverse in the second half of this year or during the first six months of 2024. 

State Street, a large investment bank, bought 1.447 million shares of NKE stock last quarter, while Hudson Bay Capital, another hedge fund, acquired 865,693 units.

AerCap (AER)

In Q2, Soros Fund Management bought 305,824 shares of Aercap Holdings (US:AER), bringing its total position in the name to 841,249 units. AER’s core business is leasing, financing, sale, and management of commercial flight equipment in China, Hong Kong, Macau, the U.S., Ireland, and internationally.

Last quarter, AER's total revenue and other income climbed 15% year-over-year to $1.92 billion, while its earnings per share, excluding certain items, came in at $2.56, down from $4.90 during the same period a year earlier. 

But Soros Fund Management is likely confident that the company's core airplane leasing business will improve going forward, indicating that the fund is upbeat on travel trends and the global economy.

Northern Trust acquired 51,009 shares of AER last quarter as BlackRock bought 269,167 units.