As of the end of 2016, Warren Buffett’s conglomerate Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) owned 479,704,270 shares of Wells Fargo (NYSE: WFC) worth a total of $26.8 billion. This translates to a 9.5% stake in the banking giant. However, Buffett also owns a smaller position in his personal account, and the combined stake is just over 10%. Here’s why Warren Buffett loves Wells Fargo, why he recently sold some of his shares, and what to expect going forward.