Social media platform Snapchat made significant headlines when it changed its name to Snap, Inc. (SNAP) and went public via an IPO. Snap has had a tumultuous first few months of public trading, but the stock nonetheless remains on the forefront of investors' minds. Now, with the latest round of 13-F filings revealing what leading financial companies bought in the first few months of 2017, it is possible to determine which hedge funds were holding SNAP as of the end of the first quarter. (See also: A SNAP Story: The Revenge of the IPO)

Daniel Loeb and Third Point

Third Point, LLC, the hedge fund of billionaire Daniel Loeb, reportedly bought up more than 2 million shares of SNAP stock in its first few weeks of trading. The hedge fund reported holdings totaling a significant 2.25 million shares as of the end of March of 2017, according to the fund's 13-F report.

David Tepper and Appaloosa Management

Appaloosa Management, the hedge fund run by major investor David Tepper, also reportedly bought up shares of SNAP stock shortly after the company went public. As of the end of the month of March, Appaloosa's position amounted to 100,000 shares of the stock. It is possible that Appaloosa purchased more shares than that, however, as 13-F reports only indicate the total holdings at the end of the quarter. If Appaloosa had bought up more shares earlier on but then sold them off prior to March 31, those shares would not be reflected in this figure.

Several Other Prominent Funds

Many other prominent funds have already revealed via 13-F reports that they have holdings of SNAP stock. These include Element Capital Management, Lansdowne Partners, Laurion Capital Management, Oz Management, Rainier Investment Management, and LMR Partners, according to a Yahoo Finance report. Whether these or any of the other funds reporting holdings of SNAP still maintain these positions to this day is difficult to say. 13-F reports are backward-looking as they only account for changes in position taking place during the previous quarter.

In fact, there may be reasons why investors would have wanted to give up on their SNAP stock at this point. The company has seen its shares tumble in price by nearly a quarter since its IPO. The company has remained one of the most talked-about since its founding, but the realities of how the firm will transition into a publicly-traded business are still materializing. While some investors may see it as a valuable long-term investment, others may have been scared off by initial price drops. (See also: Snap! $5 Billion in Value Disappears)