<?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>0001519536</rptOwnerCik>
            <rptOwnerName>HENNESSY DANIEL J</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>1</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>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Code Hennessy &amp; Simmons IV LP, an affiliate of CHS Capital LLC</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>17630</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By CHS Associates IV, an affiliate of CHS Capital LLC</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Mr. Hennessy is a is a member of the Investment Committee of CHS Capital LLC. 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. Mr. Hennessy disclaims 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">Mr. Hennessy is a member of the Investment Committee of CHS Capital LLC. CHS Capital LLC is the general partner of CHS Associates IV. Mr. Hennessy 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/ Daniel J. Hennessy by Cade Kohoutek as attorney-in-fact pursuant to attached Power of Attorney</signatureName>
        <signatureDate>2011-12-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
