Billionaire investors like Warren Buffett and others are often known for their stock-picking abilities, and for good reason. But it's also important to know that many of the wealthiest investors in the world own exchange-traded funds, or ETFs, as well.

Warren Buffett is no exception, and well-known hedge fund manager Ray Dalio is another example of a multibillionaire who invests in ETFs. With that in mind, here are four ETFs they own, some basic information about them, and why they could be smart additions to your portfolio, even if your main focus is individual stocks.

Berkshire Hathaway's (NYSE: BRK.A) (NYSE: BRK.B) massive stock portfolio is known for its stakes in companies like Apple and Bank of America. However, it's also important to point out that the Warren Buffett-led investment portfolio has positions in two ETFs.

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Source Fool.com