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Warren Buffet owns many great stocks in the Berkshire Hathaway (NYSE:BRK.B) portfolio. However, the oracle of Omaha is a patient investor, so some of his picks may underperform for years before turning around. After combing through his portfolio, I found 7 stocks that stand out as above average growth stocks for the long-term. These are the companies that should significantly outperform the market.

Warren Buffett owns all three of the major credit card companies. The credit card companies are cash cows that act as the toll collectors of the business world. They rake in fees every time their cards are swiped. They also don't take on credit risk, as the issuing banks own that responsibility.

For this article, I picked Visa (NYSE:V) and MasterCard (NYSE:MA) and left out American Express (NYSE:AXP). I acknowledge that American Express is a great company, but Visa and MasterCard should grow earnings at a much faster pace. Both companies are expected to grow earnings annually at 19% for the next five years. That growth could allow the stocks of V and MA to nearly double the performance of the market.

Visa

MA

Intel

DG

UPS

Direct TV

GE

Div.

Yield

.80%

.30%

3.3%

N/A

3.1%

N/A

3.7%

For.

PE

16.5

15.9

9.68

14.9

13.65

8.31

10.8

PEG

1.01

0.98

0.79

1.02

1.12

0.59

0.92

EPS

6.25

15.87

2.36

2.4

3.93

3.68

1.21

Op.

Cash Flow

4.65B

2.76B

19.9B

1.02B

8.07B

5.64B

32B

Profit

Margin

42.8%

29%

23.16%

5.4%

7.19%

9.54%

9.79%

5 Yr. Annual

Earn

Growth

Rate

19.1%

19.5%

13.3%

17%

13.4%

17.3%

12.7%

Intel (NASDAQ:INTC) is another standout in Buffett's portfolio. It is undervalued, highly profitable and pays a nice dividend. Intel's microprocessors are used in many of the products that we use every day: PCs, laptops, mobile phones, GPS receivers, etc. Intel should remain a leader in the semiconductor industry for many years.

Dollar General (NYSE:DG) is a fast growing discount retailer operating in the southern, Midwestern, and Eastern United States. It is also expanding into the Western portion of the country. The chain has over 9,800 stores and plans on opening 625 new stores in 2012.

One of the economy's common denominators is UPS (NYSE:UPS) as 'brown' delivers the packages for many other businesses in the U.S. and internationally. The company operates 101,000 package vehicles and 523 aircraft to transport the economy's goods where they need to go. UPS is fairly valued on the low end, and pays a nice dividend of 3.1%.

Direct TV (NASDAQ:DTV) is undervalued with a high earnings growth rate. This bodes well for future stock appreciation. Direct TV has one of the best channel viewing deals out there, as it offers the NFL Sunday Ticket, a free HD DVR, and HD viewing as part of its standard low-cost service. It has a niche in TV viewing for those who want more channels for their money.

Another standout from the Buffett portfolio is General Electric (NYSE:GE). The company is very well-diversified, as it handles solutions in financial services, energy infrastructure, aviation, healthcare, transportation, and for home and business. GE is undervalued and poised to grow at an above average pace for at least the next five years. GE's 3.7% dividend provides a nice income while the shares appreciate in value.

What makes these companies stand out is their five-year annual expected earnings growth rate of between 16% and 20%. This is the sweet spot of high above average earnings growth that leads to above average stock growth over time. These are the companies that should allow your investment to realistically double every five years. You may have to reinvest the dividends to achieve this growth with Intel, UPS, and GE.

I especially like Visa and MasterCard with their reliable high growth rate. With the credit card companies, it doesn't matter what consumers are buying. What matters are that consumers continue to swipe cards to make purchases in brick and mortar stores and online. Every time these cards are used, cash goes to the credit card companies. I plan on buying one of these companies in the near future.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.