Individual stock-picking still holds the number one spot, then the SPY ETF, then Berkshire Hathaway Inc.
 
Apple is the favorite stock of the wealthy but individual stock picking is losing favor to the lower-fee ETF structure. The ETF was not even a top 10 choice last year.
 
Index funds and ETFs are more favored by 23% of members even though they sacrifice the possibility to outperform the market. This is up from 19% in 2011.
 
Hedge funds were the vehicle of choice for 21%. They fell from 27% in 2011. Mutual funds held favor among 13% of members.
 
Tiger 21 is a peer group of 202 investors with a minimum of $10 million to invest. Collectively, they manage $19 billion.
 
A separate study released October 18 by the Wharton Global Family Alliance said that single family offices increased their direct allocations to private equity and real estate.
 
Private equity experienced the biggest change in ranking by Tiger 21 members who increased their investment to 15% from 10% last year. Most members either invested directly in startups, private companies, or personal businesses rather than through funds.

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