<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0204</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2011-12-14</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001275712</issuerCik>
        <issuerName>GSE Holding, Inc.</issuerName>
        <issuerTradingSymbol>GSE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001094262</rptOwnerCik>
            <rptOwnerName>CODE HENNESSY &amp; SIMMONS IV LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>10 SOUTH WACKER DRIVE, SUITE 3175</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60606</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001275715</rptOwnerCik>
            <rptOwnerName>CHS MANAGEMENT IV LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>10 SOUTH WACKER DRIVE, SUITE 3175</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60606</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001275716</rptOwnerCik>
            <rptOwnerName>CHS Capital LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>10 SOUTH WACKER DRIVE, SUITE 3175</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60606</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001316382</rptOwnerCik>
            <rptOwnerName>CHS Associates IV</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>10 SOUTH WACKER DRIVE, SUITE 3175</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60606</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10726004</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>17630</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Code Hennessy &amp; Simmons IV LP is the record holder of these securities. CHS Capital LLC is the general partner of CHS Management IV LP, which in turn is the general partner of Code Hennessy &amp; Simmons IV LP. CHS Capital LLC and CHS Management IV LP disclaim beneficial ownership of the securities owned by Code Hennessy &amp; Simmons IV LP except to the extent of a pecuniary interest therein.</footnote>
        <footnote id="F2">CHS Associates IV is the record holder of these securities. CHS Capital LLC is the general partner of CHS Associates IV. CHS Capital LLC disclaims beneficial ownership of the securities owned by CHS Associates IV except to the extent of a pecuniary interest therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Code Hennessy &amp; Simmons IV LP by Cade Kohoutek as attorney-in-fact pursuant to attached Power of Attorney</signatureName>
        <signatureDate>2011-12-14</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ CHS Management IV LP by Cade Kohoutek as attorney-in-fact pursuant to attached Power of Attorney</signatureName>
        <signatureDate>2011-12-14</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ CHS Capital LLC by Cade Kohoutek as attorney-in-fact pursuant to attached Power of Attorney</signatureName>
        <signatureDate>2011-12-14</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ CHS Associates IV by Cade Kohoutek as attorney-in-fact pursuant to attached Power of Attorney</signatureName>
        <signatureDate>2011-12-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
