-----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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 GJdP4+9EEfoDUJIdN3d0nQ==

<SEC-DOCUMENT>0001407243-10-000002.txt : 20101213
<SEC-HEADER>0001407243-10-000002.hdr.sgml : 20101213
<ACCEPTANCE-DATETIME>20101213123840
ACCESSION NUMBER:		0001407243-10-000002
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:		20101213
DATE AS OF CHANGE:		20101213
EFFECTIVENESS DATE:		20101213

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Madison Street QP Fund LP
		CENTRAL INDEX KEY:			0001407243
		IRS NUMBER:				208243808
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-106239
		FILM NUMBER:		101247253

	BUSINESS ADDRESS:	
		STREET 1:		5613 DTC PARKWAY
		STREET 2:		SUITE 310
		CITY:			Greenwood Village
		STATE:			CO
		ZIP:			80111
		BUSINESS PHONE:		303-815-1660

	MAIL ADDRESS:	
		STREET 1:		5613 DTC PARKWAY
		STREET 2:		SUITE 310
		CITY:			Greenwood Village
		STATE:			CO
		ZIP:			80111
</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>0001407243</cik>
        <entityName>Madison Street QP Fund LP</entityName>
        <issuerAddress>
            <street1>5613 DTC PARKWAY</street1>
            <street2>SUITE 310</street2>
            <city>Greenwood Village</city>
            <stateOrCountry>CO</stateOrCountry>
            <stateOrCountryDescription>COLORADO</stateOrCountryDescription>
            <zipCode>80111</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>303-815-1660</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2007</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>LLC</firstName>
                <lastName>Madison Street Partners,</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5613 DTC Parkway</street1>
                <street2>Suite 310</street2>
                <city>Greenwood Village</city>
                <stateOrCountry>CO</stateOrCountry>
                <stateOrCountryDescription>COLORADO</stateOrCountryDescription>
                <zipCode>80111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Drew</firstName>
                <middleName>M.</middleName>
                <lastName>Hayworth</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5613 DTC Parkway</street1>
                <street2>Suite 310</street2>
                <city>Greenwood Village</city>
                <stateOrCountry>CO</stateOrCountry>
                <stateOrCountryDescription>COLORADO</stateOrCountryDescription>
                <zipCode>80111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Steven</firstName>
                <lastName>Owsley</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5613 DTC Parkway</street1>
                <street2>Suite 310</street2>
                <city>Greenwood Village</city>
                <stateOrCountry>CO</stateOrCountry>
                <stateOrCountryDescription>COLORADO</stateOrCountryDescription>
                <zipCode>80111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</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>$50,000,001 - $100,000,000</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001407243-10-000001</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2007-07-01</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>Cogent Alternative Strategies, Inc.</recipientName>
                <recipientCRDNumber>103756</recipientCRDNumber>
                <associatedBDName>Glen Beigel</associatedBDName>
                <associatedBDCRDNumber>1389450</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1901-B Post Road</street1>
                    <city>Fairfield</city>
                    <stateOrCountry>CT</stateOrCountry>
                    <stateOrCountryDescription>CONNECTICUT</stateOrCountryDescription>
                    <zipCode>06824</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>73805592</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>100</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>47000</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>Subject to future contingencies</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>500000</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>General Partner receives no comp. for services rendered to the Fund. Advisor receives annual mgt fees equal to the product of 1/12% of assets under mgt, plus 20% of net profits. Est. assumes $50,840,592.79 under mgt and $0 net profits for 18 months of ops</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Madison Street QP Fund LP</issuerName>
                <signatureName>/s/Drew M. Hayworth</signatureName>
                <nameOfSigner>Madison Street Partners, LLC, General Partner</nameOfSigner>
                <signatureTitle>Manager</signatureTitle>
                <signatureDate>2010-12-13</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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