We consider states of the D1-D5 CFT where only the left-moving sector is excited. As we deform away from the orbifold point, some of these states will remain BPS while others can 'lift'. The lifting can be computed by a path integral containing two twist deformations; however, the relevant 4-point amplitude cannot be computed explicitly in many cases. We analyze an older proposal by Gava and Narain where the lift can be computed in terms of a finite number of 3-point functions. A direct Hamiltonian decomposition of the path integral involves an infinite number of 3-point functions, as well the first order correction to the starting state. We note that these corrections to the state account for the infinite number of 3-point functions arising from higher energy states, and one can indeed express the path-integral result in terms of a finite number of 3-point functions involving only the leading order states that are degenerate. The first order correction to the superchargeḠ (1) gets replaced by a projectionḠ (P ) ; this projected operator can also be used to group the states into multiplets whose members have the same lifting. 1 guo.1281@osu.edu 2 mathur.16@osu.eduString theory provides a very useful model for black holes: the D1D5P extremal hole in 4+1 noncompact dimensions [1,2,3,4]. We compactify IIB string theory aswhere M 4 is K3 or T 4 . The bound state of D1 and D5 branes generates a 1+1 dimensional CFT. The P charge is obtained by adding left moving excitations in this CFT.In the moduli space of the CFT, it is believed that there is an 'orbifold point' where the theory can be expressed in terms of free bosons and fermions, subject only to an orbifolding constraint [5,6,7,8,9,10,11,12]. The CFT at the orbifold point is given by a 1+1 dimensional sigma model with target space (M) N /S N , where S N is the symmetric group. The dual gravity theory lives on AdS 3 × S 3 × M 4 . A low curvature AdS emerges at values of the moduli far from the orbifold point.