If your bird's toenails are overgrown, that may be why he is holding it up or why it is in the UP position.
If your bird's nails are too long and have sharp points on the end, please take him to an Avian vet to have toenails clipped. Birds need grooming just like any other pet. Sometimes their beaks get too long with a sharp point on the end, and Avian vet needs to clip this off some. Avian vet needs to see birds for routine grooming every 4-5 months or so.