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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000902664-10-001130.txt : 20100224
<SEC-HEADER>0000902664-10-001130.hdr.sgml : 20100224
<ACCEPTANCE-DATETIME>20100224170459
ACCESSION NUMBER:		0000902664-10-001130
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20100224
DATE AS OF CHANGE:		20100224
EFFECTIVENESS DATE:		20100224

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Advantage Advisers Xanthus Fund, L.L.C.
		CENTRAL INDEX KEY:			0001076673
		IRS NUMBER:				134038889
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-139030
		FILM NUMBER:		10630468

	BUSINESS ADDRESS:	
		STREET 1:		200 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
		BUSINESS PHONE:		212-667-4225

	MAIL ADDRESS:	
		STREET 1:		200 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	XANTHUS FUND LLC
		DATE OF NAME CHANGE:	19990112
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001076673</cik>
        <entityName>Advantage Advisers Xanthus Fund, L.L.C.</entityName>
        <issuerAddress>
            <street1>200 PARK AVENUE</street1>
            <city>NEW YORK</city>
            <stateOrCountry>NY</stateOrCountry>
            <zipCode>10016</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>212-667-4225</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList></issuerPreviousNameList>
        <edgarPreviousNameList>
            <previousName>XANTHUS FUND LLC</previousName>
        </edgarPreviousNameList>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jesse</firstName>
                <middleName>H.</middleName>
                <lastName>Ausubel</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Oppenheimer Asset Management Inc.</street1>
                <street2>200 Park Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10166</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Member of the Board of Managers</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Lawrence</firstName>
                <lastName>Becker</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Oppenheimer Asset Management Inc.</street1>
                <street2>200 Park Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10166</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Member of the Board of Managers</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>James</firstName>
                <middleName>E.</middleName>
                <lastName>Buck</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Oppenheimer Asset Management Inc.</street1>
                <street2>200 Park Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10166</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Member of the Board of Managers</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Luis</firstName>
                <lastName>Rubio</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Oppenheimer Asset Management Inc.</street1>
                <street2>200 Park Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10166</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Member of the Board of Managers</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Janet</firstName>
                <middleName>L.</middleName>
                <lastName>Schinderman</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Oppenheimer Asset Management Inc.</street1>
                <street2>200 Park Avenue</street2>
                <city>c/o Oppenheimer Asset Manageme</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10166</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Member of the Board of Managers</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Bryan</firstName>
                <lastName>McKigney</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Oppenheimer Asset Management Inc.</street1>
                <street2>200 Park Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10166</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Member of the Board of Managers</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>1999-09-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Oppenheimer &amp; Co. Inc.</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Oppenheimer &amp; Co. Inc.</associatedBDName>
                <associatedBDCRDNumber>249</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>125 Broad Street</street1>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10004</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>530223439</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse>Amending paper form documents from 3/13/09 as online Form D filings.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>2685</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>1434374</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>For period 1/1/03 through 12/31/09</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>The fund charges a management fee that is described in the funds governing documents.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Advantage Advisers Xanthus Fund, L.L.C.</issuerName>
                <signatureName>/s/  Bryan McKigney</signatureName>
                <nameOfSigner>Bryan McKigney</nameOfSigner>
                <signatureTitle>Member of the Board of Members of the Issuer</signatureTitle>
                <signatureDate>2010-02-24</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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