-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 OizKafkpWlVwLtdQdhjmPp+UPAUAgDDAVvvPo8yT/pshL3DVdtdPUbGj8GZpDs9B
 alzHyiCjNtxmxzEwemO5dw==

<SEC-DOCUMENT>0001490894-10-000001.txt : 20100511
<SEC-HEADER>0001490894-10-000001.hdr.sgml : 20100511
<ACCEPTANCE-DATETIME>20100510175327
ACCESSION NUMBER:		0001490894-10-000001
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20100511
DATE AS OF CHANGE:		20100510
EFFECTIVENESS DATE:		20100511

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Tiburon Opportunity Fund, L.P.
		CENTRAL INDEX KEY:			0001490894
		IRS NUMBER:				271985953
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-141802
		FILM NUMBER:		10817947

	BUSINESS ADDRESS:	
		STREET 1:		13313 POINT RICHMOND BEACH ROAD NW
		CITY:			GIG HARBOR
		STATE:			WA
		ZIP:			98332
		BUSINESS PHONE:		253-858-7866

	MAIL ADDRESS:	
		STREET 1:		13313 POINT RICHMOND BEACH ROAD NW
		CITY:			GIG HARBOR
		STATE:			WA
		ZIP:			98332
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001490894</cik>
        <entityName>Tiburon Opportunity Fund, L.P.</entityName>
        <issuerAddress>
            <street1>13313 POINT RICHMOND BEACH ROAD NW</street1>
            <city>GIG HARBOR</city>
            <stateOrCountry>WA</stateOrCountry>
            <stateOrCountryDescription>WASHINGTON</stateOrCountryDescription>
            <zipCode>98332</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>253-858-7866</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2010</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>Bortel Investment Management LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>13313 Point Richmond Beach Road NW</street1>
                <city>Gig Harbor</city>
                <stateOrCountry>WA</stateOrCountry>
                <stateOrCountryDescription>WASHINGTON</stateOrCountryDescription>
                <zipCode>98332</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Bortel Investment Management LLC is the general partner of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Peter</firstName>
                <lastName>Bortel</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>13313 Point Richmond Beach Road NW</street1>
                <city>Gig Harbor</city>
                <stateOrCountry>WA</stateOrCountry>
                <stateOrCountryDescription>WASHINGTON</stateOrCountryDescription>
                <zipCode>98332</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Mr. Bortel is the managing member of Bortel Investment Management LLC,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>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <yetToOccur>true</yetToOccur>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>250000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>400000000</totalOfferingAmount>
            <totalAmountSold>0</totalAmountSold>
            <totalRemaining>400000000</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>0</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>Tiburon Opportunity Fund, L.P.</issuerName>
                <signatureName>/s/ Peter Bortel</signatureName>
                <nameOfSigner>Peter Bortel</nameOfSigner>
                <signatureTitle>Managing Member of the General Partner</signatureTitle>
                <signatureDate>2010-05-10</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----