Wheels Up
60 hedge funds and large institutions have $265M invested in Wheels Up in 2026 Q2 according to their latest regulatory filings, with 19 funds opening new positions, 23 increasing their positions, 11 reducing their positions, and 55 closing their positions.
1,053% more call options, than puts
Call options by funds: $4.95M | Put options by funds: $429K
109% more repeat investments, than reductions
Existing positions increased: 23 | Existing positions reduced: 11
1.73% more ownership
Funds ownership: 79.73% → 81.46% (+1.7%)
0% more funds holding in top 10
Funds holding in top 10: 3 → 3 (0)
10% less capital invested
Capital invested by funds: $294M → $265M (-$28.8M)
39% less funds holding
Funds holding: 98 → 60 (-38)
65% less first-time investments, than exits
New positions opened: 19 | Existing positions closed: 55
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 |
XT
XTX Topco
George Town,
Cayman Islands
|
-$119K |
| 5 |
OAC
OMERS Administration Corp
Toronto,
Ontario, Canada
|
-$108K |
UP Hedge Fund Activity: Q2 2026 in Review
60 of the 8,349 institutional investors tracked by Wall St. Rank reported a position in Wheels Up (UP) for Q2 2026, worth a combined $265M — down 9.8% from $294M a quarter earlier.
Sellers outnumbered buyers: 55 funds closed out of UP and 19 opened new positions — a net loss of 36 holders — while 11 trimmed existing stakes and 23 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 $265M of Wheels Up stock for Q2 2026, down 9.8% quarter-over-quarter.
- 19 funds opened new Wheels Up positions in Q2 2026 and 55 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.