Warren Buffett’s Berkshire Hathaway regained its ranking as the favorite stock pick among U.S. and Canadian multimillionaires, beating Apple and fending off the increasing preference for exchange-traded funds.

Members of Tiger 21, a New York-based group of wealthy investors, selected Berkshire in an annual survey of preferred investments scheduled to be released today. Apple, which had held the No. 1 spot the last two years, slipped to No. 2.

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