The ASX likely comes first for most Aussie investors, but most of us own US stocks through our superannuation funds, if not individually.

US-listed companies have outpaced Aussie stocks this year. The US benchmark S&P 500 Index (SP: .INX) is up nearly 23% this year to date, versus the S&P/ASX 200 Index (ASX: XJO)'s nearly 9% gain.

And the big end of town is participating too.

Billionaire James Packer owns a few tech stocks that have led to a massive payday with his private investment vehicle, Consolidated Press Holdings (CPH). Here are the US stocks that fuelled the gains.

Big tech boosts Packer's portfolio

Having exited his stake in Crown Casino in 2022, Packer now manages his investments through CPH. He had more than $3 billion from the Crown sale to use.

And it was a bumper year for CPH in FY24. The family office booked a $590 million profit for the period.

Packer's stock portfolio is heavily concentrated in major US tech stocks like Nvidia Corp (NASDAQ: NVDA) and Meta Platforms Inc (NASDAQ: META). Both have been major contributors to CPH's returns.

This comes after a review of CPH's nearly $5 billion in net assets two years ago, where Packer made a strategic shift towards US tech stocks.

He appointed investment specialist Lawrence Myers to simplify and streamline his holdings, according to The Austrailan.

The move has paid off handsomely.

CPH now holds over $1.4 billion in US stocks, with nearly $1.3 billion invested in just three companies. These include Nvidia, Meta, and Taiwan Semiconductor Manufacturing Co (NYSE: TSM).

The firm's net profit was up more than 2.7 times compared to its FY23 result, with CPH's assets growing by $620 million over the year.

That's a significant advantage over funds tracking the ASX 200. US tech is also set to report earnings this coming week.

What are the holdings in these US stocks?

Nvidia alone accounts for nearly $500 million of CPH's portfolio, having surged due to its leading role in artificial intelligence (AI) chip production.

Previously, CPH ran its strategies across 24 different US stocks, but has since narrowed this in.

In addition to Nvidia, Packer's holdings in Meta were valued at around $452 million. Meanwhile, his Taiwan Semiconductor position was worth approximately $366 million.

These investments have performed exceptionally well in 2024. Meta has rallied 67%, whereas Taiwan Semiconductor is up nearly 92%.

It also exited a number of positions recently, filings showed.

Over the period, CPH's portfolio managers exited positions in Netflix Inc (NASDAQ: NFLX), Expedia Group Inc (NASDAQ: EXPE) and Visa Inc (NYSE: V), just to name a few.

Foolish takeout

James Packer's move to consolidate his portfolio into a smaller number of high-growth US stocks has paid off.

Whilst his private investment vehicle, CPH, is concentrated in stocks, it has many additional holdings. Time will tell if these bets pay off long term.