To elucidate further the conformation of human apolipoprotein A-I (apoA-I) in lipid-bound states and its effect on the reaction with lecithin cholesterol acyltransferase (LCAT), we prepared reconstituted HDL (rHDL) particles from a reaction mixture containing dipalmitoylphosphatidylcholine/cholesterol/apoA-I in the molar ratios of 150:7.5:1. The particles were separated by gel filtration into three classes of highly homogeneous and reproducible discs with diameters of 97, 136, and 186 A, containing 2, 3, and 4 molecules of apoA-I/disc, respectively, and increasing proportions of phospholipid and cholesterol. These three classes of particles were then investigated by a variety of fluorescence techniques, to probe the average environment and mobility of the tryptophan (Trp) residues in the structure of apoA-I. We found small, gradual changes in the fluorescence parameters with changes in the size of the rHDL, consistent with a shift of Trp residues to a more hydrophobic and more rigid environment, as well as an increased resistance of apoA-I to denaturation by guanidine hydrochloride in the larger particles. In contrast, circular dichroism measurements and binding studies with seven monoclonal antibodies indicated a similar alpha-helical structure (73%) for apoA-I in all the particles, and similar exposure of apoA-I epitopes in the COOH-terminal two-thirds of the apolipoprotein. Thus the structure of apoA-I is comparable for the three classes of particles and is consistent with the presence of eight alpha-helical segments per apoA-I in contact with the lipid. In addition, we obtained the apparent kinetic parameters for the reaction of the rHDL particles with lecithin cholesterol acyltransferase. The apparent Km values were similar but the apparent Vmax decreased almost 8-fold, going from the 97- to the 186-A particles; therefore, the decreasing reactivity for the larger particles can be attributed mainly to differences in the catalytic rate constant. The rate limiting step is probably affected by local structural differences in the apoA-I, or by the interfacial properties of the lipid.