45 days after the end of each quarter, investment companies holding assets valued at more than $100 million are required to submit reports to the SEC documenting the changes in some of their positions during that quarter. With the 45-day deadline now having passed for the first quarter of 2017, big hedge fund names are suddenly revealing to the public some of the movements they made in the first few months of 2017. Among the most prominent moves revealed so far is that of billionaire David Tepper and his hedge fund, Appaloosa Management. In the first quarter of the year, Tepper invested a total of more than $207 million in Bank of America (BAC). Here is a breakdown of Tepper's holding in that name, as well as some other information about his funds' investments early in the year.

$207.2 Million in Bank of America

According to Appaloosa's 13-F report, available to the public and reported on by Business Insider, the company invested a total of $207.2 million in the big bank for the first quarter of 2017. This constitutes the single biggest new position in the funds' holdings during that period. It is difficult to say at this point whether the hedge fund made this purchase in one single transaction or if it accounts for a number of purchases put together. 13-F reports only require that funds report their net holdings as of the end of the quarter; it's possible that Tepper made multiple purchases, or even that he originally bought more stock and then sold some of it. All that is known based on the report is that his fund held that significant position as of the end of March.

New Position in CBS, Additional Investments in Micron and Southwest Airlines

While the new position in Bank of America constituted Tepper's largest move in early 2017, it was not his only significant investment shift. The billionaire also made a new investment in CBS (CBS), buying up more than $72 million worth of stock for the network. Tepper also contributed greatly to his positions in tech giant Micron (MU) and Southwest Airlines (LUV), more than doubling both of his stakes in those areas. Tepper's total position in Micron was $193.3 million and his net holdings in Southwest amounted to $166 million as of the end of the month of March, when the 13-F holdings were tabulated.

Tepper also decreased some of his holdings during this time as well. Notably, the billionaire cut his investment in Allergan (AGN) by about a third. Nonetheless, the pharmaceuticals company still remains the largest position in Tepper's portfolio and accounts for asset holdings of more than $700 million. The other top holdings in the company's portfolio are Williams Partners, Alphabet, Facebook, and PNC Financial.

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