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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 ie/kXx+0h8BrqDqmB22o3g==

<SEC-DOCUMENT>0001132503-10-000004.txt : 20100922
<SEC-HEADER>0001132503-10-000004.hdr.sgml : 20100922
<ACCEPTANCE-DATETIME>20100922162611
ACCESSION NUMBER:		0001132503-10-000004
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:		20100922
DATE AS OF CHANGE:		20100922
EFFECTIVENESS DATE:		20100922

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SCHALLER EQUITY PARTNERS, A North Carolina Limited Partnership
		CENTRAL INDEX KEY:			0001132503
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-148074
		FILM NUMBER:		101084905

	BUSINESS ADDRESS:	
		STREET 1:		324 INDERA MILLS COURT
		CITY:			WINSTON-SALEM
		STATE:			NC
		ZIP:			27101
		BUSINESS PHONE:		336-774-1515

	MAIL ADDRESS:	
		STREET 1:		324 INDERA MILLS COURT
		CITY:			WINSTON-SALEM
		STATE:			NC
		ZIP:			27101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCHALLER EQUITY PARTNERS
		DATE OF NAME CHANGE:	20010116
</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>0001132503</cik>
        <entityName>SCHALLER EQUITY PARTNERS, A North Carolina Limited Partnership</entityName>
        <issuerAddress>
            <street1>324 INDERA MILLS COURT</street1>
            <city>WINSTON-SALEM</city>
            <stateOrCountry>NC</stateOrCountry>
            <stateOrCountryDescription>NORTH CAROLINA</stateOrCountryDescription>
            <zipCode>27101</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>336-774-1515</issuerPhoneNumber>
        <jurisdictionOfInc>NORTH CAROLINA</jurisdictionOfInc>
        <edgarPreviousNameList>
            <previousName>SCHALLER EQUITY PARTNERS</previousName>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>.</firstName>
                <lastName>Schaller Equity Management, Inc.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>324 Indera Mills Court</street1>
                <city>Winston-Salem</city>
                <stateOrCountry>NC</stateOrCountry>
                <stateOrCountryDescription>NORTH CAROLINA</stateOrCountryDescription>
                <zipCode>27101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Partner of the limited partnership</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Douglas</firstName>
                <middleName>E</middleName>
                <lastName>Schaller</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>324 Indera Mills Court</street1>
                <city>Winston-Salem</city>
                <stateOrCountry>NC</stateOrCountry>
                <stateOrCountryDescription>NORTH CAROLINA</stateOrCountryDescription>
                <zipCode>27101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>President of the General Partner</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.1</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-01-059442</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2000-11-15</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>500000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>44094480</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>47</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>SCHALLER EQUITY PARTNERS, A North Carolina Limited Partnership</issuerName>
                <signatureName>/s/ Douglas E. Schaller</signatureName>
                <nameOfSigner>Douglas E. Schaller</nameOfSigner>
                <signatureTitle>President of General Partner</signatureTitle>
                <signatureDate>2010-09-22</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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