All things being equal, above has psychoacoustic advantages. Rarely are all things equal, so the answer is a resounding "it depends..."
130" wide, diagonal... 16:9 or 2.35:1? (i.e., actual height of screen)
Border around screen? Height of room ceiling/soffit? Desired location of screen on wall? Position of seating in room? Any risers? (i.e., sight lines or vertical viewing angles as they pertain to screen height and room height to help determine how much room you have above or below the screen)
Able to acoustically treat the ceiling and/or soffit above screen?
Type of speaker desired for use? Already have purchased them, or...?
Big question... is the screen purchased? Would you consider an acoustically transparent? Many sonic advantages over a "traditional" screen. Best position is behind the screen, not above or below, but since you didn't ask about that I am...