Warren Buffett’s Berkshire Hathaway bought a stake in Apple Inc. valued at about $1.1 billion during the first quarter while selling off its entire holdings of AT&T Inc., regulatory filings show.

Apple’s stock this month reached a 52-week low of $89.47 a share, down from its record high of $132.97 a year earlier, as sales of the iPhone declined. Billionaire investor Carl Icahn last month said he sold his 45.8 million shares of Apple on concerns that sales in China were slowing.

Berkshire increased its holdings of Phillips 66, Liberty Media Corp. and Bank of New York Mellon Corp.  while selling Procter & Gamble Co., Precision Castparts Corp., Wal-Mart Stores Inc., MasterCard Inc. and Wabco Holdings Inc., according to 13-F filings on Whalewisdom.com.

Asset managers who oversee more than $100 million are required to disclose their quarterly holdings with the Securities and Exchange Commission.

Top Changes in Berkshire Hathaway’s Stock Portfolio

Additions (Shares)

1. Phillips 66 (14 million)
2. Apple (9.8 million)
3. Liberty Media Corp. (4.6 million)
4. Liberty Global (3 million)
5. Liberty Media, A shares (2.2 million)
6. Bank of New York Mellon (715,000)
7. Deere & Co. (397,000)
8. Visa (354,000)
9. IBM (199,000)
10. Charter Communications (45,200)

Subtractions

1. Procter & Gamble (52.5 million)
2. AT&T (46.6 million)
3. Precision Castparts (4.2 million)
4. Wal-Mart (949,000)
5. MasterCard (295,000)
6. Wabco (94,121)

Related Stories:

• Buffett's Berkshire Took $1.07 Billion Stake in Apple in First Quarter
• Carl Icahn Tells CNBC: I've Sold My Entire Apple Stake on China Fears