-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 WfNGCOIf/M9ErMvFu6rFNSItrIgTNhN0MQ5WNvvGqgWEP570XX4ozxMIBQnZX2VC
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<SEC-DOCUMENT>0001349521-11-000002.txt : 20110316
<SEC-HEADER>0001349521-11-000002.hdr.sgml : 20110316
<ACCEPTANCE-DATETIME>20110316121332
ACCESSION NUMBER:		0001349521-11-000002
CONFORMED SUBMISSION TYPE:	D/A
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:		20110316
DATE AS OF CHANGE:		20110316
EFFECTIVENESS DATE:		20110316

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Hedged Strategies Fund QP LP
		CENTRAL INDEX KEY:			0001349521
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-85029
		FILM NUMBER:		11690962

	BUSINESS ADDRESS:	
		STREET 1:		1800 BAYBERRY COURT
		STREET 2:		SUITE 300
		CITY:			RICHMOND
		STATE:			VA
		ZIP:			23226
		BUSINESS PHONE:		804-289-6000

	MAIL ADDRESS:	
		STREET 1:		1800 BAYBERRY COURT
		STREET 2:		SUITE 300
		CITY:			RICHMOND
		STATE:			VA
		ZIP:			23226
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001349521</cik>
        <entityName>Hedged Strategies Fund QP LP</entityName>
        <issuerAddress>
            <street1>1800 BAYBERRY COURT</street1>
            <street2>SUITE 300</street2>
            <city>RICHMOND</city>
            <stateOrCountry>VA</stateOrCountry>
            <stateOrCountryDescription>VIRGINIA</stateOrCountryDescription>
            <zipCode>23226</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>804-289-6000</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Louis</firstName>
                <middleName>W.</middleName>
                <lastName>Moelchert, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1800 Bayberry Court</street1>
                <street2>Suite 300</street2>
                <city>Richmond</city>
                <stateOrCountry>VA</stateOrCountry>
                <stateOrCountryDescription>VIRGINIA</stateOrCountryDescription>
                <zipCode>23226</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Charles</firstName>
                <middleName>M.</middleName>
                <lastName>Johnson, III</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1800 Bayberry Court</street1>
                <street2>Suite 300</street2>
                <city>Richmond</city>
                <stateOrCountry>VA</stateOrCountry>
                <stateOrCountryDescription>VIRGINIA</stateOrCountryDescription>
                <zipCode>23226</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Louis</firstName>
                <middleName>W.</middleName>
                <lastName>Moelchert, III</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1800 Bayberry Court</street1>
                <street2>Suite 300</street2>
                <city>Richmond</city>
                <stateOrCountry>VA</stateOrCountry>
                <stateOrCountryDescription>VIRGINIA</stateOrCountryDescription>
                <zipCode>23226</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>$5,000,001 - $25,000,000</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001349521-10-000002</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2006-01-02</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1000000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Morgan Stanley Smith Barney Alternative Investments</recipientName>
                <recipientCRDNumber>7059</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>522 Fifth Avenue</street1>
                    <street2>13th Floor</street2>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10036</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Wells Fargo Advisors, LLC</recipientName>
                <recipientCRDNumber>19616</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>301 South College Street, NC0602</street1>
                    <city>Charlotte</city>
                    <stateOrCountry>NC</stateOrCountry>
                    <stateOrCountryDescription>NORTH CAROLINA</stateOrCountryDescription>
                    <zipCode>28288</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>24300000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>47</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>91510</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>1250875</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Hedged Strategies Fund QP LP</issuerName>
                <signatureName>James J. Shannon</signatureName>
                <nameOfSigner>James J. Shannon</nameOfSigner>
                <signatureTitle>Partner of Private Advisors, LLC the General Partner</signatureTitle>
                <signatureDate>2011-03-16</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----