Warren Buffett is one of the world's most-followed investors. Since becoming CEO of Berkshire Hathaway in 1965, Buffett and his team have delivered 20% average annualized returns.

Buffett is known for his disciplined, patient approach to investing. He seeks to invest in high-quality companies at reasonable prices and hold on to them for the long haul. His proven ability to pick winners lends credence to the notion that Berkshire Hathaway's holdings provide potential investing ideas for others to mimic.

Here are three Buffett-backed stocks that could make an excellent addition to your portfolio today, and you can buy at least one share in all three for less than $1,000.

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Source Fool.com