NEW YORK (Reuters) - Seth Klarman's Baupost Group took a new stake in the first quarter in Allergan Plc (>> Allergan, Inc.), before the drugmaker's $160 billion (£111 billion) merger with Pfizer Inc (>> Pfizer Inc.) was terminated last month.

Klarman bought 1.72 million shares of Allergan, which had a value of $461 million (£321 million) at the end of the first quarter, according to a regulatory filing late Friday.

Shares of the drugmaker have dropped 17 percent since then as the U.S. government pushed to curb deals in which companies move overseas to cut taxes known as "inversions," ending the takeover.

Hedge-fund SEC disclosures are backward-looking and come out 45 days after the end of each quarter. Still, the filings offer a glimpse into what hedge fund managers saw as investment opportunities.

The filings do not disclose short positions, or bets that a stock will fall. As a result, they do not always present a complete picture of a management firm's stock holdings.

(Reporting By Jennifer Ablan)

Stocks treated in this article : Allergan, Inc., EMC Corporation, Allergan plc, Pfizer Inc.