Wheels Up
60 hedge funds and large institutions have $264M invested in Wheels Up in 2026 Q2 according to their latest regulatory filings, with 20 funds opening new positions, 22 increasing their positions, 11 reducing their positions, and 56 closing their positions.
1,053% more call options, than puts
Call options by funds: $4.95M | Put options by funds: $429K
100% more repeat investments, than reductions
Existing positions increased: 22 | Existing positions reduced: 11
77.36% more ownership
Funds ownership: 3.99% → 81.34% (+77%)
0% more funds holding in top 10
Funds holding in top 10: 3 → 3 (0)
10% less capital invested
Capital invested by funds: $294M → $264M (-$29.2M)
39% less funds holding
Funds holding: 98 → 60 (-38)
64% less first-time investments, than exits
New positions opened: 20 | Existing positions closed: 56
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BlackRock
New York
|
+$2.5M |
| 2 |
MCM
Militia Capital Management
Austin,
Texas
|
+$888K |
| 3 |
MCM
Masters Capital Management
Atlanta,
Georgia
|
+$764K |
| 4 |
Geode Capital Management
Boston,
Massachusetts
|
+$560K |
| 5 |
Vanguard Capital Management
Malvern,
Pennsylvania
|
+$433K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WA
Whitebox Advisors
Minneapolis,
Minnesota
|
-$1.3M |
| 2 |
JDLA
J. Derek Lewis & Associates
Newport Beach,
California
|
-$249K |
| 3 |
Jane Street
New York
|
-$228K |
| 4 |
State Street
Boston,
Massachusetts
|
-$213K |
| 5 |
XT
XTX Topco
George Town,
Cayman Islands
|
-$119K |
UP Hedge Fund Activity: Q2 2026 in Review
60 of the 8,305 institutional investors tracked by Wall St. Rank reported a position in Wheels Up (UP) for Q2 2026, worth a combined $264M — down 9.9% from $294M a quarter earlier.
Sellers outnumbered buyers: 56 funds closed out of UP and 20 opened new positions — a net loss of 36 holders — while 11 trimmed existing stakes and 22 added.
The largest buyer was BlackRock, adding an estimated $2.5M. The largest seller was Whitebox Advisors, cutting an estimated $1.3M.
- 60 institutional investors held Wheels Up (UP) as of Q2 2026, down from 98 in Q1 2026.
- Funds reported $264M of Wheels Up stock for Q2 2026, down 9.9% quarter-over-quarter.
- 20 funds opened new Wheels Up positions in Q2 2026 and 56 closed out, a net change of -36 holders.
- The largest Wheels Up buyer in Q2 2026 was BlackRock, an estimated $2.5M added.
- The largest Wheels Up seller in Q2 2026 was Whitebox Advisors, an estimated $1.3M sold.
Based on aggregated 13F filings for Q2 2026.