Berkshire Hathaway, the conglomerate run by Warren Buffett, is the top stock pick for members of Tiger 21, a national investment club for people worth at least $10 million

Club members chose Berkshire in a survey because they favor Buffett’s strategy of buying companies, Michael Sonnenfeldt, a Tiger 21 founder, told Bloomberg.

“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,” he said.

The club has 140 members, and about 70 responded to the March survey.

The poll showed that it’s not just Average Joes who like mutual funds. Tiger 21 members said that 26 percent of their equity-related investments were made through mutual funds.

The fund mentioned most by members was the Fairholme fund (ticker: FAIRX), which focuses on large-cap stocks. It has returned 23 percent during the past year.

Tiger 21 members typically have 30 percent of their investments in stocks now, 25 percent in real estate, 20 percent in bonds, 10 percent in cash, 10 percent in private equity and 5 percent in hedge funds, Sonnenfeldt says.

Not everyone is bullish on Berkshire. Meyer Shields of Stifel Nicolaus recently became the first Wall Street analyst in four years to rate the stock a “sell.”

Economic weakness will hurt Berkshire, he told The Wall Street Journal. “If unemployment stays high, spending stays low, both for the U.S. in general and Berkshire in particular.”