================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2011 Check here if Amendment [_]; Amendment No.: ________________________________ This Amendment (Check only one.): [_] is a restatement. [_] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Camden Partners Holdings, LLC Address: 500 East Pratt Street Suite 1200 Baltimore, Maryland 21202 Form 13F File Number: 28-12730 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person signing this Report on Behalf of Reporting Manager: Name: Donald W. Hughes Title: Chief Financial Officer Phone: 410-878-6800 Signature, Place, and Date of Signing: /s/ Donald W. Hughes, Baltimore, Maryland, November 14, 2011 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [_] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) ================================================================================ FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 78 Form 13F Information Table Value Total: $77,976 (in thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. NONE FORM 13F INFORMATION TABLE

Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 -------------------------------- -------------- --------- -------- ---------------- ---------- -------- ------------------- Value Shrs or Sh/ Put/ Investment Other Voting Authority Name of Issuer Title of Class CUSIP (x$1000) Prn Amt Prn Call Discretion Managers Sole Shared Other -------------------------------- -------------- --------- -------- ------- --- ---- ---------- -------- ------ ------ ----- Allied Nevada Gold Corp. COM 019344100 433 12,100 SH Defined N/A 12,100 Twin Disc Inc. COM 901476101 320 12,000 SH Defined N/A 12,000 Arbitron Inc. COM 03875Q108 319 9,650 SH Defined N/A 9,650 Deltic Timber Corp. COM 247850100 310 5,200 SH Defined N/A 5,200 Rovi Corporation COM 779376102 301 7,000 SH Defined N/A 7,000 Connecticut Water Service Inc. COM 207797101 300 12,000 SH Defined N/A 12,000 Cepheid COM 15670R107 282 7,250 SH Defined N/A 7,250 Power Integrations Inc. COM 739276103 256 8,350 SH Defined N/A 8,350 Universal Display Corp. COM 91347P105 242 5,050 SH Defined N/A 5,050 ADTRAN Inc. COM 00738A106 239 9,050 SH Defined N/A 9,050 Monotype Imaging Holdings, Inc. COM 61022P100 224 18,500 SH Defined N/A 18,500 Synaptics Inc. COM 87157D109 215 9,000 SH Defined N/A 9,000 Sourcefire Inc. COM 83616T108 206 7,700 SH Defined N/A 7,700 DTS Inc. COM 23335C101 204 8,200 SH Defined N/A 8,200 Genomic Health, Inc. COM 37244C101 195 8,850 SH Defined N/A 8,850 FEI Co. COM 30241L109 186 6,200 SH Defined N/A 6,200 Plantronics, Inc. COM 727493108 174 6,100 SH Defined N/A 6,100 Texas Pacific Land Trust SUB CTF PROP 882610108 164 4,500 SH Defined N/A 4,500 Digital River Inc. COM 25388B104 161 7,750 SH Defined N/A 7,750 DigitalGlobe, Inc. COM NEW 25389M877 154 7,950 SH Defined N/A 7,950 Valmont Industries, Inc. COM 920253101 152 1,950 SH Defined N/A 1,950 US Gold Corporation COM PAR $ 912023207 148 36,800 SH Defined N/A 36,800 Conceptus Inc. COM 206016107 142 13,600 SH Defined N/A 13,600 Regis Corp COM 758932107 141 10,000 SH Defined N/A 10,000 Acuity Brands, Inc. COM 00508Y102 139 3,850 SH Defined N/A 3,850 Vishay Precision Group, Inc. COM 92835K103 138 10,500 SH Defined N/A 10,500 Thompson Creek Metals Co Inc. COM 884768102 138 11,011 SH Defined N/A 11,011 Procera Networks, Inc. COM NEW 74269U203 133 13,900 SH Defined N/A 13,900 Logmein Inc. COM 54142L109 131 3,950 SH Defined N/A 3,950 Starwood Property Trust, Inc. COM 85571B105 125 7,300 SH Defined N/A 7,300 Federal Mogul Corp. COM 313549404 124 8,400 SH Defined N/A 8,400 Cloud Peak Energy Inc. COM 18911Q102 119 7,050 SH Defined N/A 7,050 Digimarc Corp COM 25381B101 114 4,500 SH Defined N/A 4,500 Cavium Networks, Inc. COM 14965A101 113 4,200 SH Defined N/A 4,200 Acacia Research Corp COM 003881307 113 3,150 SH Defined N/A 3,150 General Cable Corp. COM 369300108 113 4,850 SH Defined N/A 4,850 Apogee Enterprises, Inc. COM 037598109 109 12,700 SH Defined N/A 12,700 Goodrich Petroleum Corp. COM 382410405 100 8,500 SH Defined N/A 8,500 Avanir Pharmaceuticals CL A NEW 05348P401 98 34,400 SH Defined N/A 34,400 Nymox Pharmaceutical Corporation COM 67076P102 97 11,800 SH Defined N/A 11,800 LivePerson Inc. COM 538146101 96 9,600 SH Defined N/A 9,600 MDC Partners Inc. CL A 552697104 92 6,900 SH Defined N/A 6,900 Isis Pharmaceuticals, Inc. COM 464330109 89 13,100 SH Defined N/A 13,100

Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 ------------------------------ -------------- --------- -------- ------------------- ---------- -------- ----------------------- Value Shrs or Sh/ Put/ Investment Other Voting Authority Name of Issuer Title of Class CUSIP (x$1000) Prn Amt Prn Call Discretion Managers Sole Shared Other ------------------------------ -------------- --------- -------- ---------- --- ---- ---------- -------- ---------- ------ ----- Global Power Equipment Group Inc. COM PAR $ 37941P207 86 3,700 SH Defined N/A 3,700 Powersecure International, Inc. COM 73936N105 86 18,200 SH Defined N/A 18,200 Saia, Inc. COM 78709Y105 85 8,050 SH Defined N/A 8,050 Vitran Corp Inc. COM 92850E107 85 21,400 SH Defined N/A 21,400 OCZ Technology Group Inc. COM 67086E303 82 17,000 SH Defined N/A 17,000 Enernoc Inc. COM 292764107 82 9,120 SH Defined N/A 9,120 Colony Financial Inc. COM 19624R106 81 6,300 SH Defined N/A 6,300 Peregrine Pharmaceuticals Inc. COM NEW 713661304 79 33,500 SH Defined N/A 33,500 Ciena Corp COM 171779309 78 7,000 SH Defined N/A 7,000 Concur Technologies Inc COM 206708109 78 2,100 SH Defined N/A 2,100 Points International Ltd. COM NEW 730843208 77 7,900 SH Defined N/A 7,900 Active Power Inc. COM 00504W100 77 60,000 SH Defined N/A 60,000 Gibraltar Industries, Inc. COM 374689107 76 9,300 SH Defined N/A 9,300 Japan Smaller Capitalization Fund Inc. COM 47109U104 75 10,000 SH Defined N/A 10,000 Petroleum Development Corporation COM 716578109 74 3,800 SH Defined N/A 3,800 Sangamo Biosciences, Inc. COM 800677106 70 16,200 SH Defined N/A 16,200 Zix Corp COM 98974P100 69 26,000 SH Defined N/A 26,000 Clean Energy Fuels Corp. COM 184499101 67 6,000 SH Defined N/A 6,000 Stec Inc. COM 784774101 65 6,400 SH Defined N/A 6,400 Maxlinear Inc. CL A 57776J100 61 9,400 SH Defined N/A 9,400 Hyperdynamics Corp COM 448954107 60 16,300 SH Defined N/A 16,300 Gran Tierra Energy Inc COM 38500T101 49 10,300 SH Defined N/A 10,300 NCI Building Systems Inc. COM NEW 628852204 48 6,400 SH Defined N/A 6,400 Prolor Biotech Inc. COM 74344F106 47 11,500 SH Defined N/A 11,500 Oncogenex Pharmaceuticals Inc. COM 68230A106 40 4,100 SH Defined N/A 4,100 FX Energy Inc. COM 302695101 39 9,500 SH Defined N/A 9,500 Lexicon Pharmaceuticals, Inc. COM 528872104 39 42,600 SH Defined N/A 42,600 NeurogesX, Inc. COM 641252101 23 25,301 SH Defined N/A 25,301 Visteon Corp COM NEW 92839U206 3 2,700 SH Defined N/A 2,700 Princeton Review Inc. COM 742352107 3 19,000 SH Defined N/A 19,000 AtriCure, Inc. COM 04963C209 8,962 920,132 SH Defined N/A 920,132 National American University Holdings, Inc. COM 63245Q105 14,316 1,999,449 SH Defined N/A 1,999,449 CIBT Education Group COM 17163Y102 3,268 10,894,558 SH Defined N/A 10,894,558 Primo Water Corporation COM 74165N105 3,345 593,042 SH Defined N/A 593,042 RealPage, Inc. COM 75606N109 38,552 1,885,162 SH Defined N/A 1,885,162