-----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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 8wrowOVrY8aTmAZIznit/g==

<SEC-DOCUMENT>0000919574-09-008877.txt : 20090415
<SEC-HEADER>0000919574-09-008877.hdr.sgml : 20090415
<ACCEPTANCE-DATETIME>20090415165333
ACCESSION NUMBER:		0000919574-09-008877
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:		20090415
DATE AS OF CHANGE:		20090415
EFFECTIVENESS DATE:		20090415

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Selectinvest Portable Alpha Fund SPC-Segregated Portfolio Three - Class IV
		CENTRAL INDEX KEY:			0001382767
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-97139
		FILM NUMBER:		09751614

	BUSINESS ADDRESS:	
		STREET 1:		C/O CITI HEDGE FUND SERVICES (CAYMAN)
		STREET 2:		27 HOSPITAL RD, 5TH FL, P.O. BOX 1748
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			00000
		BUSINESS PHONE:		345-945-9166

	MAIL ADDRESS:	
		STREET 1:		C/O CITI HEDGE FUND SERVICES (CAYMAN)
		STREET 2:		27 HOSPITAL RD, 5TH FL, P.O. BOX 1748
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0301</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001382767</cik>
        <entityName>Selectinvest Portable Alpha Fund SPC-Segregated Portfolio Three - Class IV</entityName>
        <issuerAddress>
            <street1>c/o Citi Hedge Fund Services (Cayman)</street1>
            <street2>27 Hospital Rd, 5th Fl, PO Box 1748</street2>
            <city>Grand Cayman</city>
            <stateOrCountry>E9</stateOrCountry>
            <zipCode>00000</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(345) 949-6770</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>E9</jurisdictionOfInc>
        <entityType>Other</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2005</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Daniel</firstName>
                <middleName></middleName>
                <lastName>de Picciotto</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o UBP Asset Management LLC</street1>
                <street2>30 Rockefeller Plaza, 27th Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10112</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jan Erik</firstName>
                <middleName></middleName>
                <lastName>Frogg</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o UBP Asset Management LLC</street1>
                <street2>30 Rockefeller Plaza, 27th Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10112</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Roman</firstName>
                <middleName></middleName>
                <lastName>Igolnikov</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o UBP Asset Management LLC</street1>
                <street2>30 Rockefeller Plaza, 27th Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10112</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Christopher</firstName>
                <middleName>A.</middleName>
                <lastName>Ito</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o UBP Asset Management LLC</street1>
                <street2>30 Rockefeller Plaza, 27th Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10112</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>G.</middleName>
                <lastName>Logan</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o UBP Asset Management LLC</street1>
                <street2>30 Rockefeller Plaza, 27th Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10112</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>David G. Logan is also an executive officer of UBP Asset Management LLC, the Investment Manager of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Matthew</firstName>
                <middleName></middleName>
                <lastName>Stadtmauer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o UBP Asset Management LLC</street1>
                <street2>30 Rockefeller Plaza, 27th Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10112</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </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>true</isAmendment>
                <previousAccessionNumber>9999999997-06-047840</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2006-11-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>5000000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Rhone Group Advisors L.L.C.</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>630 Fifth Avenue</street1>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10111</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>PNC Bank, National Association and Affiliates</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>222 Delaware Avenue</street1>
                    <city>Wilmington</city>
                    <stateOrCountry>DE</stateOrCountry>
                    <zipCode>19801</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>5000000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>1</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>The entities listed in Item 12 above are paid directly or indirectly commissions or similar sales compensation equal to a percentage of the fee paid to the General Partner (or its affiliate) from the assets under management and/or the incentive allocation</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>The Investment Manager (or its affiliate) is entitled to receive an annual management fee in an amount equal to a specified percentage of assets under management.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>true</authorizedRepresentative>
            <signature>
                <issuerName>Selectinvest Portable Alpha Fund SPC-Segregated Portfolio Three - Class IV</issuerName>
                <signatureName>/s/ Christopher Ito</signatureName>
                <nameOfSigner>Christopher Ito</nameOfSigner>
                <signatureTitle>Director of the Issuer</signatureTitle>
                <signatureDate>2009-04-08</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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