Warren Buffett’s Berkshire Hathaway is the favourite investment among members of Tiger 21, the US a peer investment group, according to Bloomberg.

Members of New York-based Tiger 21 picked Berkshire as their top stock in a survey of preferred investments because they like Buffett’s strategy of buying companies, Michael Sonnenfeldt, a founder of Tiger 21, was quoted as saying.

Tiger 21 currently has 140 members, most of whom have a net worth of at least $10 million, totaling more than $10 billion in collective assets.

“No one wants to be a stock picker, but if they are, they’re going to back someone who has essentially created his wealth through buying stock,” Sonnenfeldt was quoted saying in reference to Buffett.

Tiger 21 members, who include former investment professionals, law firm partners and business owners, meet monthly in groups of 14 across the US to debate investing strategies. The organization was started in 1999.

The organisation did not return enquiries from Family Wealth Report at the time of going to press.

A typical member portfolio right now is about 30 per cent in equities, 25 per cent in real estate, 20 perc ent in fixed income, 10 per cent in cash, 10 per cent in private equity and 5 per cent in hedge funds, Sonnenfeldt said.