diff --git a/hgext/mq.py b/hgext/mq.py
--- a/hgext/mq.py
+++ b/hgext/mq.py
@@ -3037,7 +3037,22 @@ def strip(ui, repo, *revs, **opts):
         wlock = repo.wlock()
         try:
             urev = repo.mq.qparents(repo, revs[0])
-            repo.dirstate.rebuild(urev, repo[urev].manifest())
+            uctx = repo[urev]
+
+            # only reset the dirstate for files that would actually change
+            # between the working context and uctx
+            descendantrevs = repo.revs("%s::." % uctx.rev())
+            changedfiles = []
+            for rev in descendantrevs:
+                # blindy reset the files, regardless of what actually changed
+                changedfiles.extend(repo[rev].files())
+
+            # reset files that only changed in the dirstate too
+            dirstate = repo.dirstate
+            dirchanges = [f for f in dirstate if dirstate[f] != 'n']
+            changedfiles.extend(dirchanges)
+
+            repo.dirstate.rebuild(urev, uctx.manifest(), changedfiles)
             repo.dirstate.write()
             update = False
         finally:
diff --git a/mercurial/dirstate.py b/mercurial/dirstate.py
--- a/mercurial/dirstate.py
+++ b/mercurial/dirstate.py
@@ -498,13 +498,18 @@ class dirstate(object):
         self._lastnormaltime = 0
         self._dirty = True
 
-    def rebuild(self, parent, files):
+    def rebuild(self, parent, allfiles, changedfiles=None):
+        changedfiles = changedfiles or allfiles
+        oldmap = self._map
         self.clear()
-        for f in files:
-            if 'x' in files.flags(f):
-                self._map[f] = ('n', 0777, -1, 0)
+        for f in allfiles:
+            if f not in changedfiles:
+                self._map[f] = oldmap[f]
             else:
-                self._map[f] = ('n', 0666, -1, 0)
+                if 'x' in allfiles.flags(f):
+                    self._map[f] = ('n', 0777, -1, 0)
+                else:
+                    self._map[f] = ('n', 0666, -1, 0)
         self._pl = (parent, nullid)
         self._dirty = True
 
diff --git a/tests/test-mq-strip.t b/tests/test-mq-strip.t
--- a/tests/test-mq-strip.t
+++ b/tests/test-mq-strip.t
@@ -420,6 +420,25 @@ Verify strip protects against stripping 
   $ hg status
   M bar
   ? b
+
+Strip adds, removes, modifies with --keep
+
+  $ touch b
+  $ hg add b
+  $ hg commit -mb
+  $ touch c
+  $ hg add c
+  $ hg rm bar
+  $ hg commit -mc
+  $ echo b > b
+  $ echo d > d
+  $ hg strip --keep tip
+  saved backup bundle to $TESTTMP/test/.hg/strip-backup/*-backup.hg (glob)
+  $ hg status
+  M b
+  ! bar
+  ? c
+  ? d
   $ cd ..
 
 stripping many nodes on a complex graph (issue3299)