-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001013594-09-000584.txt : 20090316
<SEC-HEADER>0001013594-09-000584.hdr.sgml : 20090316
<ACCEPTANCE-DATETIME>20090316162538
ACCESSION NUMBER:		0001013594-09-000584
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)(1)
FILED AS OF DATE:		20090316
DATE AS OF CHANGE:		20090316
EFFECTIVENESS DATE:		20090316

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SAGE OPPORTUNITY FUND (QP) LP
		CENTRAL INDEX KEY:			0001405982
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-105625
		FILM NUMBER:		09684640

	BUSINESS ADDRESS:	
		STREET 1:		500 FIFTH AVENUE
		STREET 2:		SUITE 930
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10110
		BUSINESS PHONE:		212-521-0908

	MAIL ADDRESS:	
		STREET 1:		500 FIFTH AVENUE
		STREET 2:		SUITE 930
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10110
</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>0001405982</cik>
        <entityName>SAGE OPPORTUNITY FUND (QP) LP</entityName>
        <issuerAddress>
            <street1>500 Fifth Avenue</street1>
            <street2>Suite 930</street2>
            <city>New York</city>
            <stateOrCountry>NY</stateOrCountry>
            <zipCode>10110</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>212-521-0908</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>DE</jurisdictionOfInc>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Barry</firstName>
                <middleName>George</middleName>
                <lastName>Haimes</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Fifth Avenue</street1>
                <street2>Suite 930</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10110</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing Partner of the General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Katherine</firstName>
                <middleName>Ruth</middleName>
                <lastName>Hensel</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Fifth Avenue</street1>
                <street2>Suite 930</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10110</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Denis</firstName>
                <middleName>Bret</middleName>
                <lastName>Cummings</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Fifth Avenue</street1>
                <street2>Suite 930</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10110</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Financial Officer of the General Partner of the Issuer</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.1</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-07-032000</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2005-06-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1000000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Lyster Watson &amp; Company</recipientName>
                <recipientCRDNumber>106066</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>888 Seventh Avenue</street1>
                    <street2>40th Floor</street2>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10019</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <state>CT</state>
                    <state>DC</state>
                    <state>FL</state>
                    <state>IL</state>
                    <state>MD</state>
                    <state>MA</state>
                    <state>MI</state>
                    <state>NJ</state>
                    <state>NY</state>
                    <state>NC</state>
                    <state>PA</state>
                    <state>TN</state>
                    <state>TX</state>
                    <state>VT</state>
                    <state>VA</state>
                    <state>WA</state>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Donna Schole Anderson</recipientName>
                <recipientCRDNumber>1159354</recipientCRDNumber>
                <associatedBDName>Selalu Partners LLC</associatedBDName>
                <associatedBDCRDNumber>114664</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>14 Nutmeg Ridge</street1>
                    <city>Ridgefield</city>
                    <stateOrCountry>CT</stateOrCountry>
                    <zipCode>06877</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <state>CO</state>
                    <state>CT</state>
                    <state>IL</state>
                    <state>MA</state>
                    <state>MI</state>
                    <state>MO</state>
                    <state>NJ</state>
                    <state>NY</state>
                    <state>OR</state>
                    <state>TN</state>
                    <state>TX</state>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>45447000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>19</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>4342</dollarAmount>
            </findersFees>
            <clarificationOfResponse>Estimate represents fees to date.  Finders receive a portion of the General Partner's management fees and incentive allocations.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>3700665</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>Estimate represents management fees to date.  General Partner receives management fees equal to 1% per annum of the Issuer's net asset value.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Sage Opportunity Fund (QP), L.P.</issuerName>
                <signatureName>/s/ Barry Haimes</signatureName>
                <nameOfSigner>Barry Haimes</nameOfSigner>
                <signatureTitle>Partner of the GP of the Issuer</signatureTitle>
                <signatureDate>2009-03-16</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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