Warren Buffett just announced a stake in Apple

Berkshire Hathaway owned $1 billion worth of Apple shares as of the end of the first quarter.

A regulatory filing out Monday from the company headed by Warren Buffett showed the stake totaled 9.81 million shares at the time.

It ranked Berkshire as the 56th-largest Apple shareholder, according to Bloomberg.

Apple shares climbed more than 3% in trading Monday after the news crossed.

They fell near a two-year low last week. Amid the share-price decline, Alphabet (owner of Google) briefly overtook Apple as the world’s most valuable company by market cap.

On Friday, a regulatory filing from Appaloosa Management showed that the hedge fund founded by David Tepper had dumped its entire stake in Apple. And on Monday, Leon Cooperman’s Omega Advisors disclosed that it took a $24.7 million position totaling 227,000 shares.

These announced Apple stakes were held as of March 31; the firms could have since adjusted the size of their holdings.

Apple’s first-quarter results showed that its revenues fell year-on-year for the first time since 2003. That added to investor concerns about the company amid a slowdown largely attributed to weakness in China.

Berkshire’s filing also showed that Buffett increased his stakes in Phillips 66 and IBM. He sold Walmart shares.

NOW WATCH: How to invest like Warren Buffett

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