13F-HR 1 t306588.txt CREDO UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 13F-HR FORM 13F-HR COVER PAGE Report for the Calendar Year or Quarter Ended: 12/31/2011 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.):[ ] is a restatement [X] adds new holding entires Institutional Investment Manager Filing this Report: Name: Credo Capital Management, LLC Address: 225 E. Redwood Street, 2nd Floor Baltimore, MD 21202 Form 13F File Number: 28-12753 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: Melanie H. Mendoza Title: Chief Compliance Officer Phone: (410) 244-6200 Signature, Place, and Date of Signing: Melanie H. Mendoza Baltimore, MD January 4, 2012 -------------------------------------------------------------------------------- [Signature] [City, State] [Date] Report Type (Check only one): [x] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F information Table Entry Total: 108 Form 13F Information Table Value Total: 585,479 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 field, other than the manager filing this report. NONE FORM 13F INFORMATION TABLE

Title of Value Shares/ Sh/ Put/ Invstmt Other Voting Authority Name of Issuer class CUSIP (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None ---------------------------------------------------------------------------------------------------------------------------------- Acacia Research Corp. COM 003881307 1387 37996 SH Sole 25069 12927 Airgas Inc. COM 009363102 ~~8638~~11217 ~~135350~~143664 SH Sole ~~68289~~67040 ~~67061~~76624 ~~Alexion~~Akorn ~~Pharmaceuticals~~ Inc. COM ~~015351109~~009728106 ~~7688~~1145 ~~120017~~103001 SH Sole ~~60551~~67970 ~~59466~~35031 ~~Arch~~Alexion ~~Coal~~Pharmaceuticals Inc. COM ~~039380100~~015351109 ~~5894~~9913 ~~404264~~138638 SH Sole ~~203954~~64702 ~~200310~~73936 ~~Bed~~Arbitron ~~Bath & Beyond~~ Inc. COM ~~075896100~~03875Q108 ~~9012~~1240 ~~157257~~36048 SH Sole ~~79623~~23787 ~~77634~~12261 ~~Blue~~Arch ~~Nile~~Coal Inc. COM ~~09578R103~~039380100 ~~492~~6227 ~~13939~~429138 SH Sole ~~13939~~200230 228908 Buffalo Wild Wings Inc. COM 119848109 ~~11577~~10150 ~~193599~~150344 SH Sole ~~101435~~79998 ~~92164~~70346 Carrizo Oil & Gas Inc. COM 144577103 ~~7576~~10114 ~~351563~~383828 SH Sole ~~183952~~196690 ~~167611~~187138 Catalyst Health Solutions Inc. COM 14888B103 ~~9523~~10387 ~~165080~~199757 SH Sole ~~77719~~102788 ~~87361~~96969 Cavium Inc. COM 14964U108 ~~1435~~1858 ~~53125~~65355 SH Sole ~~30914~~43144 22211 Cepheid COM 15670R107 ~~944~~2862 ~~24303~~83168 SH Sole ~~24303~~54880 28288 Chart Industries Inc. COM 16115Q308 ~~2003~~2631 ~~47492~~48650 SH Sole ~~27957~~32118 ~~19535~~16532 Chipotle Mexican Grill Inc. COM 169656105 7189 21286 SH Sole 9932 11354 Cogent Communications Group In COM 19239V302 ~~1434~~2222 ~~106620~~131540 SH Sole ~~61916~~86836 44704 Coherent Inc. COM 192479103 ~~1763~~2609 ~~41039~~49919 SH Sole ~~24076~~32956 16963 Computer Programs & Systems In COM 205306103 ~~788~~2428 ~~11914~~47496 SH Sole ~~11914~~31341 16155 Comstock Resources Inc. COM 205768203 ~~1239~~1476 ~~80116~~96496 SH Sole ~~47324~~63704 32792 ~~Cree~~CoreSite ~~Inc~~Realty Corp. COM ~~225447101~~21870Q105 ~~3501~~1202 ~~134743~~67457 SH Sole ~~67976~~44531 ~~66767~~22926 ~~Crown~~Cree ~~Holdings~~ Inc. COM ~~228368106~~225447101 ~~8082~~6191 ~~264030~~280893 SH Sole ~~133237~~131065 ~~130793~~149828 DGCrown ~~Fastchannel~~Holdings Inc. COM ~~23326R109~~228368106 ~~1355~~9412 ~~79955~~280283 SH Sole ~~44040~~130805 ~~35915~~149478 DTS Inc. COM 23335C101 ~~1373~~2113 ~~55305~~77574 SH Sole ~~32437~~51212 ~~22868~~26362 Deckers Outdoor Corp. COM 243537107 ~~10247~~7394 ~~109878~~97843 SH Sole ~~55438~~45663 ~~54440~~52180 ~~Diamond~~Dick's ~~Foods~~Sporting Goods Inc. COM ~~252603105~~253393102 ~~10009~~9125 ~~125442~~247428 SH Sole ~~65332~~115431 ~~60110~~131997 Digital Realty Trust Inc. COM 253868103 ~~9549~~9874 ~~173115~~148106 SH Sole ~~87317~~69096 ~~85798~~79010 Dresser-Rand Group Inc. COM 261608103 ~~6955~~4430 ~~171591~~88750 SH Sole ~~86582~~41679 ~~85009~~47071 Dupont Fabros Technology Inc. COM 26613Q106 ~~1943~~3253 ~~98659~~134324 SH Sole ~~58656~~88675 ~~40003~~45649 EQT Corp. COM 26884L109 ~~9100~~8587 ~~170546~~156731 SH Sole ~~90094~~73146 ~~80452~~83585 Edwards Lifesciences Corp. COM 28176E108 10183 144029 SH Sole 67193 76836 Elizabeth Arden Inc. COM 28660G106 ~~830~~2636 ~~29191~~71166 SH Sole ~~29191~~46968 24198 EnerSys Inc. COM 29275Y102 ~~1198~~1912 ~~59819~~73619 SH Sole ~~34799~~48599 25020 Equinix Inc. COM 29444U502 ~~8736~~8586 ~~98341~~84670 SH Sole ~~49583~~39507 ~~48758~~45163 Evercore Partners Inc. COM 29977A105 ~~1979~~2769 ~~86811~~104001 SH Sole ~~51468~~68658 35343 ~~Fastenal~~Finisar CoCorp. COM ~~311900104~~31787A507 ~~8055~~2071 ~~242039~~123706 SH Sole ~~122105~~81666 ~~119934~~42040 ~~Finisar~~Forward Air Corp. COM ~~31787A507~~349853101 ~~1763~~2519 ~~100506~~78590 SH Sole ~~58466~~51880 ~~42040~~26710 ~~Forward~~Fossil ~~Air Corp~~Inc. COM ~~349853101~~349882100 ~~680~~8268 ~~26710~~104187 SH Sole ~~26710~~48606 55581 Globe Specialty Metals Inc. COM 37954N206 ~~1724~~1914 ~~118725~~142955 SH Sole ~~70141~~94371 48584 ~~Greenhill~~Green &Mountain ~~Co.~~Coffee Roasters COM ~~395259104~~393122106 ~~5671~~9662 ~~198346~~215426 SH Sole ~~100091~~100502 ~~98255~~114924 ~~Gulfport~~Greenhill ~~Energy~~& ~~Corp~~Co. COM ~~402635304~~395259104 ~~2115~~7659 ~~87485~~210577 SH Sole ~~51740~~98264 ~~35745~~112313 ~~HMS~~Gulfport ~~Holdings~~Energy Corp. COM ~~40425J101~~402635304 ~~9043~~2755 ~~370778~~93541 SH Sole ~~187106~~62120 ~~183672~~31421 Harman International Industrie COM 413086109 ~~6789~~8071 ~~237558~~212169 SH Sole ~~119847~~98999 ~~117711~~113170 Helix Energy Solutions Group I COM 42330P107 ~~1269~~1859 ~~96852~~117672 SH Sole ~~56861~~77681 39991 Huntsman Corp. COM 447011107 ~~5110~~6961 ~~528467~~696145 SH Sole ~~266678~~324826 ~~261789~~371319 IPC The Hospitalist Co. Inc. COM 44984A105 ~~1930~~2654 ~~54066~~58042 SH Sole ~~31817~~38317 ~~22249~~19725 Illumina Inc. COM 452327109 ~~8923~~6069 ~~218050~~199126 SH Sole ~~120407~~92930 ~~97643~~106196 Insulet Corp. COM 45784P101 ~~1451~~2661 ~~95104~~141314 SH Sole ~~47079~~93289 48025 Interface Inc. COM 458665106 ~~1312~~2095 ~~110651~~181501 SH Sole ~~48968~~119818 61683 K12 Inc. COM 48273U102 ~~1585~~1409 ~~62255~~78525 SH Sole ~~35570~~51840 26685 Koppers Holdings Inc. COM 50060P106 ~~1371~~2775 ~~53547~~80767 SH Sole ~~26098~~53318 27449 LKQ Corp. COM 501889208 10775 358201 SH Sole 167108 191093 Legg Mason Inc. COM 524901105 ~~7243~~7191 ~~281735~~299006 SH Sole ~~142114~~139508 ~~139621~~159498 ~~Littelfuse~~Life Time Fitness Inc. COM ~~537008104~~53217R207 ~~596~~1513 ~~14820~~32368 SH Sole ~~14820~~21359 ~~Lufkin~~11009 ~~Industries~~Littelfuse Inc. COM ~~549764108~~537008104 ~~1469~~1874 ~~27609~~43610 SH Sole ~~16396~~28790 ~~11213~~14820 ~~Luminex~~Lufkin ~~Corp~~Industries Inc. COM ~~55027E102~~549764108 ~~868~~2221 ~~39146~~32999 SH Sole ~~39146~~21786 MF11213 ~~Global~~Luminex ~~Ltd~~Corp. COM ~~55277J108~~55027E102 ~~6956~~2188 ~~1684230~~103055 SH Sole ~~873568~~67580 ~~810662~~35475 Manitowoc Co. COM 563571108 ~~6509~~9762 ~~970001~~1062232 SH Sole ~~504150~~540991 ~~465851~~521241 ManpowerGroup COM 56418H100 ~~5368~~6058 ~~159654~~169465 SH Sole ~~80553~~79079 ~~79101~~90386 Marten Transport Ltd. COM 573075108 ~~491~~1919 ~~28470~~106684 SH Sole ~~28470~~70427 36257 Maxwell Technologies Inc. COM 577767106 ~~837~~2172 ~~45460~~133770 SH Sole 88310 45460 Medidata Solutions Inc. COM 58471A105 ~~506~~1719 ~~30770~~79033 SH Sole ~~30770~~52676 26357 MetroPCS Communications Inc. COM 591708102 ~~4031~~4265 ~~462789~~491327 SH Sole ~~234131~~229856 ~~228658~~261471 Microsemi Corp. COM 595137100 ~~10281~~9705 ~~643378~~579401 SH Sole ~~334688~~295461 ~~308690~~283940 Modine Manufacturing Co. COM 607828100 ~~1352~~2096 ~~149217~~221547 SH Sole ~~73925~~146255 75292 ~~Mohawk Industries Inc. COM 608190104 7922 184630 SH Sole 93147 91483~~ Monro Muffler Brake Inc. COM 610236101 ~~1916~~2409 ~~58118~~62106 SH Sole ~~34474~~41244 ~~23644~~20862 Moog Inc. COM 615394202 ~~7347~~4268 ~~225216~~97160 SH Sole ~~113651~~45327 ~~111565~~51833 Navistar International Corp. COM 63934E108 ~~6015~~8653 ~~187258~~228427 SH Sole ~~94491~~106582 ~~92767~~121845 NetSuite Inc. COM 64118Q107 ~~541~~1984 ~~20012~~48919 SH Sole ~~20012~~32276 ON16643 ~~Semiconductor~~Nuance ~~Corp~~Communications Inc. COM ~~682189105~~67020Y100 ~~5668~~5108 ~~790505~~203003 SH Sole ~~398785~~94721 ~~391720~~108282 ~~OPNET~~ON ~~Technologies~~Semiconductor ~~Inc~~Corp. COM ~~683757108~~682189105 ~~1753~~6477 ~~50214~~838950 SH Sole ~~29513~~391473 ~~20701~~447477 ~~Old~~OPNET ~~Dominion~~Technologies ~~Freight Line~~ Inc. COM ~~679580100~~683757108 ~~7152~~2234 ~~246867~~60914 SH Sole ~~123708~~40213 ~~123159~~20701 Onyx Pharmaceuticals Inc. COM 683399109 ~~1740~~2598 ~~57978~~59116 SH Sole ~~34128~~39289 ~~23850~~19827 PVH Corp. COM 693656100 ~~8625~~6317 ~~148097~~89619 SH Sole ~~74693~~41810 ~~73404~~47809 Par Pharmaceutical Cos. Inc. COM 69888P106 ~~504~~2074 ~~18950~~63372 SH Sole ~~18950~~41835 21537 Parametric Technology Corp. COM 699173209 ~~6186~~6405 ~~402196~~350746 SH Sole ~~202847~~163634 ~~199349~~187112 Peet's Coffee & Tea Inc. COM 705560100 ~~851~~2821 ~~15294~~45004 SH Sole 29710 15294 Pegasystems Inc. COM 705573103 ~~8164~~8789 ~~266716~~298942 SH Sole ~~141401~~153784 ~~125315~~145158 Pioneer Drilling Co. COM 723655106 ~~1071~~1737 ~~149101~~179461 SH Sole ~~88112~~118472 60989 Plains Exploration & Productio COM 726505100 10260 279409 SH Sole 130363 149046 Polycom Inc. COM 73172K104 ~~5622~~8767 ~~306044~~537843 SH Sole ~~154419~~250937 ~~151625~~286906 Power Intergrations Inc. COM 739276103 ~~1636~~2149 ~~53434~~64814 SH Sole ~~31408~~42788 22026 ~~Quality~~Quanta ~~Systems~~Services Inc. COM ~~747582104~~74762E102 ~~5633~~5964 ~~58074~~276889 SH Sole ~~29203~~130577 ~~28871~~146312 RBC Bearings Inc. COM 75524B104 ~~835~~3016 ~~24578~~72318 SH Sole 47740 24578 Rackspace Hosting Inc. COM 750086100 ~~6182~~8266 ~~181080~~192182 SH Sole ~~91354~~89680 ~~89726~~102502 RealD Inc. COM 75604L105 ~~1166~~1096 ~~124661~~138086 SH Sole ~~61562~~91133 ~~63099~~46953 ~~RightNow Technologies Inc. COM 76657R106 2456 74299 SH Sole 48002 26297~~ Robert Half International Inc. COM 770323103 ~~7008~~9976 ~~330247~~350542 SH Sole ~~166624~~163575 ~~163623~~186967 Rovi Corp. COM 779376102 ~~7674~~7259 ~~178537~~295325 SH Sole ~~90072~~137782 ~~88465~~157543 ~~Royal Caribbean Cruises Ltd. COM V7780T103 6934 320442 SH Sole 161696 158746~~ Rue21 Inc. COM 781295100 ~~1794~~2061 ~~79064~~95424 SH Sole ~~46636~~62996 32428 SPX Corp. COM 784635104 ~~5258~~8085 ~~116038~~134139 SH Sole ~~58548~~62588 ~~57490~~71551 Salix Pharmaceuticals Ltd. COM 795435106 ~~8605~~10752 ~~290713~~224694 SH Sole ~~151377~~116900 ~~139336~~107794 ~~Semtech Corp. COM 816850101 5486 260021 SH Sole 124834 135187~~ Snyder-Lance Inc. COM 833551104 ~~4160~~9815 ~~199541~~436227 SH Sole ~~100670~~203526 ~~98871~~232701 Sourcefire Inc. COM 83616T108 ~~1712~~2522 ~~63994~~77874 SH Sole ~~37539~~51419 26455 Stifel Financial Corp. COM 860630102 ~~7202~~9411 ~~271158~~293626 SH Sole ~~142499~~149889 ~~128659~~143737 Superior Energy Services COM 868157108 ~~8857~~8687 ~~337540~~305438 SH Sole ~~170291~~142521 ~~167249~~162917 T.Rowe Price Group Inc. COM 74144T108 9121 160166 SH Sole 74722 85444 Tiffany & Co. COM 886547108 ~~10311~~10012 ~~169527~~151101 SH Sole ~~85546~~70504 ~~83981~~80597 Timken Co. COM 887389104 ~~7133~~8931 ~~217343~~230706 SH Sole ~~109639~~107638 ~~107704~~123068 Trinity Industries Inc. COM 896522109 ~~6520~~11984 ~~304512~~398659 SH Sole ~~153609~~186052 ~~150903~~212607 True Religion Apparel Inc. COM 89784N104 ~~1047~~3003 ~~38833~~86836 SH Sole ~~22719~~57326 ~~16114~~29510 Ultimate Software Group Inc. COM 90385D107 ~~1414~~2708 ~~30261~~41586 SH Sole ~~12901~~27460 ~~17360~~14126 Ultratech Inc. COM 904034105 ~~1132~~1971 ~~66006~~80216 SH Sole ~~38746~~52956 27260 Urban Outfitters Inc. COM 917047102 ~~5594~~4746 ~~250637~~172192 SH Sole ~~126475~~80346 ~~124162~~91846 Vera Bradley Inc. COM 92335C106 ~~11910~~10505 ~~330366~~325744 SH Sole ~~173982~~167358 ~~156384~~158386 Volcano Corp. COM 928645100 ~~1007~~2855 ~~33970~~120014 SH Sole ~~33970~~79194 40820 Watson Pharmaceuticals Inc. COM 942683103 9285 153876 SH Sole 71787 82089 Wesco International Inc. COM 95082P105 ~~7814~~13222 ~~232916~~249428 SH Sole ~~123720~~127237 ~~109196~~122191 Wright Express Corp. COM 98233Q105 ~~2042~~3469 ~~53674~~63904 SH Sole ~~31957~~42187 21717 Zumiez Inc. COM 989817101 1307 47097 SH Sole 29893 17204 athenahealth Inc. COM 04685W103 ~~8867~~7912 ~~148900~~161067 SH Sole ~~76887~~82383 ~~72013~~78684 lululemon athletica inc. COM 550021109 8909 190930 SH Sole 89103 101827 REPORT SUMMARY ~~103~~108 DATA RECORDS ~~468625~~585479 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED

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