Suppose one of the world's greatest investors told you some of his favorite stock picks. However, there was a problem: You only had $300 to invest, and many of his stocks were too expensive for you to buy. My hunch is that you'd probably be perfectly content to scoop up a share or two of the stocks that you could afford.

This isn't a make-believe scenario, at least the part about a great investor sharing his favorite stock picks. Every quarter, Berkshire Hathaway's (NYSE:BRK.A) (NYSE:BRK.B) 13F-HR filing to the U.S. Securities and Exchange Commission (SEC) lists all of the conglomerate's holdings. This list is chock-full of legendary-investor Warren Buffett's favorite stocks.

To turn this scenario into reality, all you need is a few hundred bucks to invest. And you don't even have to dig into Berkshire's SEC filings to get ideas. Here are the best Warren Buffett stocks to buy with $300 right now.

Warren Buffett with people in the background

Image source: The Motley Fool.

Apple

Probably the best place to start is with Buffett's favorite stock after Berkshire Hathaway itself -- Apple (NASDAQ:AAPL). The company is, by far, the top position in Berkshire's equity portfolio. Buffett stated last year in a CNBC interview that Apple "is probably the best business I know in the world."

Apple's share price currently stands at a little under $130. You're not going to be able to buy another top tech giant with $300 or less. More importantly, the stock should still have plenty of room to run.

The company's iPhone ecosystem is thriving, as evidenced by Apple's blowout Q1 earnings. Its Mac computer sales set a record high. Apple's lucrative services businesses, which include the App Store and Apple Music, continue to gain momentum. Wearables, home, and accessories revenue is also soaring.

Apple reportedly has a foldable iPhone on the way in 2023, which will almost certainly be a huge commercial success. Augmented reality apps and devices also should provide a major new growth market. There's a good chance that Apple will make Buffett -- and many other investors -- a lot richer over the next decade.

AbbVie

AbbVie (NYSE:ABBV) is a relatively recent addition to Buffett's list. Berkshire first bought shares of the big drugmaker last year. Its share price is under $120 right now, which appears to be a bargain considering the stock trades at only 9.3 times expected earnings.

Probably the first thing that jumps out with AbbVie is its dividend. The company ranks as a Dividend Aristocrat, with 49 consecutive years of dividend increases. Its dividend currently yields a mouthwatering 4.5%.

But AbbVie also offers pretty good growth prospects over the long run. You should be aware, though, that there will be a temporary blip in that growth. AbbVie's top-selling drug Humira will face biosimilar competition in the U.S. beginning in 2023. The company anticipates that its total revenue will slip that year.

The good news is that AbbVie has other products with fast-rising sales that should allow it to quickly return to growth. AbbVie projects strong revenue growth beginning in 2025 and extending throughout the rest of the decade.

Bank of America

After buying one share each of Apple and AbbVie, you're only going to have a little over $50 remaining from your initial $300. Don't worry, there's still a great Buffett stock that you can buy with the leftover cash -- Bank of America (NYSE:BAC).

Buffett has been a longtime fan of banks, but Bank of America is without question his favorite bank stock of all. The Oracle of Omaha singled out the stock in his comments at Berkshire's annual shareholder meeting, stating, "I like the Bank of America and I like [Bank of America CEO] Brian Moynihan very much."

There are several good reasons why Bank of America is so high on Buffett's list. The company more than doubled its profit year over year in the first quarter and continues to maintain a strong balance sheet. Bank of America should also benefit as COVID-19 worries fade and the global economy bounces back. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.