Wheels Up
121 hedge funds and large institutions have $608M invested in Wheels Up in 2025 Q2 according to their latest regulatory filings, with 36 funds opening new positions, 21 increasing their positions, 25 reducing their positions, and 35 closing their positions.
1,873% more call options, than puts
Call options by funds: $296K | Put options by funds: $15K
3% more first-time investments, than exits
New positions opened: 36 | Existing positions closed: 35
1% more funds holding
Funds holding: 120 → 121 (+1)
0% more funds holding in top 10
Funds holding in top 10: 3 → 3 (0)
1.1% less ownership
Funds ownership: 86.78% → 85.68% (-1.1%)
16% less repeat investments, than reductions
Existing positions increased: 21 | Existing positions reduced: 25
56% less capital inflows, than outflows
Capital inflows: $7.06M | Capital outflows: $16.2M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
+$1.76M |
| 2 |
Masters Capital Management
Atlanta,
Georgia
|
+$1.23M |
| 3 |
Jane Street
New York
|
+$913K |
| 4 |
Goldman Sachs
New York
|
+$472K |
| 5 |
Marshall Wace
London,
United Kingdom
|
+$256K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BlackRock
New York
|
-$5.28M |
| 2 |
Vanguard Group
Malvern,
Pennsylvania
|
-$4.13M |
| 3 |
State Street
Boston,
Massachusetts
|
-$1.49M |
| 4 |
Geode Capital Management
Boston,
Massachusetts
|
-$1.29M |
| 5 |
Whitebox Advisors
Minneapolis,
Minnesota
|
-$839K |
UP Hedge Fund Activity: Q2 2025 in Review
121 of the 7,625 institutional investors tracked by Wall St. Rank reported a position in Wheels Up (UP) for Q2 2025, worth a combined $608M — up 4.6% from $581M a quarter earlier.
Buyers outnumbered sellers: 36 funds opened new UP positions and 35 closed out — a net gain of 1 holder — while 21 added to existing stakes and 25 trimmed.
The largest buyer was Millennium Management, adding an estimated $1.76M. The largest seller was BlackRock, cutting an estimated $5.28M.
- 121 institutional investors held Wheels Up (UP) as of Q2 2025, up from 120 in Q1 2025.
- Funds reported $608M of Wheels Up stock for Q2 2025, up 4.6% quarter-over-quarter.
- 36 funds opened new Wheels Up positions in Q2 2025 and 35 closed out, a net change of +1 holder.
- The largest Wheels Up buyer in Q2 2025 was Millennium Management, an estimated $1.76M added.
- The largest Wheels Up seller in Q2 2025 was BlackRock, an estimated $5.28M sold.
Based on aggregated 13F filings for Q2 2025.