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Warren Buffett became one of the world's best-known investors through his long track record of consistency. Since 1965, his portfolio has earned an average yearly gain of 20%, approximately double that of the S&P 500.

However, with Buffett now in his 90s, many investment decisions are in the hands of his lieutenants, Todd Combs and Ted Weschler. This has changed the philosophy of Berkshire Hathaway a bit, and to that end, it incorporates more growth stocks.

Consequently, investors -- even with a modest budget of $300 -- can find some intriguing growth stocks in the Berkshire portfolio that could deliver market-beating returns over time.

Amazon

Berkshire did not buy Amazon (NASDAQ: AMZN) until 2019. As to why it took so long to buy, Buffett said he was "too dumb" to buy Amazon earlier. He was long skeptical of tech stocks but, in time, came to realize the staying power of such businesses.

Now, Amazon is the world's second-largest retailer, according to the National Retail Federation. Moreover, it pioneered the cloud computing business through Amazon Web Services (AWS), a segment that now accounts for most of the company's operating income.

Additionally, it operates fast-growth businesses such as digital advertising, online seller services, and its subscription service, known to the public as Amazon Prime. They helped generate revenue of $575 billion in 2023, a 12% increase from last year. This made it a highly diversified business that investors can buy for around $185 per share right now.

Admittedly, Amazon's forward price-to-earnings (P/E) ratio of 44 may appear expensive, considering that investors often associate Buffett with finding bargains. Still, investors should remember that Amazon has always sold at a high multiple, and the portfolio has sought more expensive stocks since Buffett handed off some investment decisions to others.

Ultimately, with a comparatively reasonable valuation and its diverse business lines, it should remain a stock that serves Buffett and other investors well.

Nu Holdings

NuBank parent Nu Holdings (NYSE: NU) is one of the world's largest online banks, but since it only operates in Brazil, Mexico, and Colombia, it is likely not on the radar of most investors. Nonetheless, it probably should be, and not just because Berkshire was an early investor in this business.

Nu presents a unique opportunity since just a few institutions had previously dominated banking in this region. For that reason, a large percentage of the population did not have a bank account or credit card. Nu has changed this by issuing the first credit card to millions of Brazilians. Now, 53% of all adult Brazilians (88 million of Nu's 94 million customers) have at least one account with Nu.

Additionally, the company is now repeating this formula in Mexico and Colombia, meaning its rapid growth can continue. So fast is this growth that the company's $8 billion in revenue for 2023 grew 68% over the previous year.

Moreover, with the stock at around $12 per share, investors can not only buy a few shares with a $300 budget but also buy at levels just above its IPO price from late 2021. Furthermore, at a forward P/E ratio of 31, the shares are priced reasonably when considering the outsized revenue growth of this fintech stock.

DaVita (NYSE: DVA) is probably not a company most investors think of as a growth stock. It offers kidney dialysis to more than 200,000 patients in the U.S. and 10 other countries.

However, the need for such services never disappears, making it the type of business that has always drawn Buffett's attention. Additionally, approximately 10,000 baby boomers age into Medicare every day, and chronic kidney disease affects about 34% of U.S. adults aged 65 or older. While that may serve as a warning to watch one's kidney health, it also means a growing customer base for DaVita as kidney disease rises.

Admittedly, considering that its 2023 revenue of $12 billion grew by only 5%, it may not look like much of a "growth" business. Nonetheless, the stock has been in a state of recovery as excess deaths (due to COVID-19) and missed appointments weighed on its performance for most of 2022, and rising labor costs have remained an ongoing challenge.

Moreover, analysts expect its cost-cutting to boost net income by 21% in 2024. Thus, considering its P/E ratio is around 18, the stock is arguably a bargain. Also, with the stock trading at about $135 per share as of the time of this writing, investors with a $300 budget can afford its shares. Investors who follow Buffett's lead will likely continue to profit from this healthcare stock.

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John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Will Healy has positions in Berkshire Hathaway and Nu Holdings. The Motley Fool has positions in and recommends Amazon and Berkshire Hathaway. The Motley Fool recommends Nu Holdings. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.