-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 8gqQLtUz2bovJwAb9zQ7aw==

<SEC-DOCUMENT>0001219563-09-000003.txt : 20090311
<SEC-HEADER>0001219563-09-000003.hdr.sgml : 20090311
<ACCEPTANCE-DATETIME>20090311121002
ACCESSION NUMBER:		0001219563-09-000003
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20090311
DATE AS OF CHANGE:		20090311
EFFECTIVENESS DATE:		20090311

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			POLESTAR FUND LP
		CENTRAL INDEX KEY:			0001219563
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-52800
		FILM NUMBER:		09671724

	BUSINESS ADDRESS:	
		STREET 1:		1111 METROPOLITAN AVE., SUITE 750
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28204
		BUSINESS PHONE:		7043483514

	MAIL ADDRESS:	
		STREET 1:		1111 METROPOLITAN AVE., SUITE 750
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28204
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0201</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001219563</cik>
        <entityName>POLESTAR FUND LP</entityName>
        <issuerAddress>
            <street1>1111 METROPOLITAN AVE., SUITE 750</street1>
            <street2></street2>
            <city>CHARLOTTE</city>
            <stateOrCountry>NC</stateOrCountry>
            <zipCode>28204</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>7043483514</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>DE</jurisdictionOfInc>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Murray</firstName>
                <middleName></middleName>
                <lastName>Stahl</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>470 Park Ave., 4th</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10016</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chairman of the Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Thomas</firstName>
                <middleName></middleName>
                <lastName>Ewing</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1111 Metropolitan Ave., Suite 750</street1>
                <street2></street2>
                <city>Charlotte</city>
                <stateOrCountry>NC</stateOrCountry>
                <zipCode>28204</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing Member of the General Partner and Director of the Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Alexander</firstName>
                <middleName>B</middleName>
                <lastName>Waugh</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1111 Metropolitan Ave., Suite 750</street1>
                <street2></street2>
                <city>Charlotte</city>
                <stateOrCountry>NC</stateOrCountry>
                <zipCode>28204</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing Member of the General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Steven</firstName>
                <middleName></middleName>
                <lastName>Bregman</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>470 Park Ave., 4th</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10016</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>President and Director of the Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName></middleName>
                <lastName>Meditz</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>470 Park Ave., 4th</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10016</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Vice Chairman and Director of the Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Peter</firstName>
                <middleName>B</middleName>
                <lastName>Doyle</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>470 Park Ave., 4th</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10016</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Vice President and Director of the Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Denise</firstName>
                <middleName>M</middleName>
                <lastName>Kashey</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>470 Park Ave., 4th</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10016</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of the Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrew</firstName>
                <middleName>M</middleName>
                <lastName>Fishman</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>470 Park Ave., 4th</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10016</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Counsel of the Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Mark</firstName>
                <middleName>J</middleName>
                <lastName>Wszolek</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>470 Park Ave., 4th</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10016</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Compliance Officer of the Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Hugh</firstName>
                <middleName>Michael</middleName>
                <lastName>Ross</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>470 Park Ave., 4th</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10016</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Operating Officer of the Investment Manager</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>$25,000,001 - $50,000,000</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-07-048512</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2003-01-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>500000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>111760896</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>79</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>POLESTAR FUND LP</issuerName>
                <signatureName>Murray Stahl</signatureName>
                <nameOfSigner>Murray Stahl</nameOfSigner>
                <signatureTitle>Chairman of the Investment Manager</signatureTitle>
                <signatureDate>2009-03-11</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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