Warren Buffett’s holding in Wells Fargo & Co. is approaching 10 percent, a level at which he’d have to pass a Federal Reserve review to keep building his stake.

The billionaire oversaw about 506 million shares, or 9.9 percent, of the bank as of Dec. 31, according to regulatory filings. Most of the stock was held by subsidiaries of his Berkshire Hathaway Inc. ((NYSE: BRK.A and BRK.B) The ratio has steadily climbed from 6.7 percent at the end of 2009 because of Buffett’s stock purchases and the lender’s buybacks.

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