Morgan Dempsey Capital Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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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	MANAGER	SOLE	SHARED	NONE
Alliant Energy Corporation	com	018802108	160	3,837	SH		SOLE		3,837	0	0
Altria Group, Inc.	com	02209S103	7,117	112,129	SH		SOLE		112,129	0	0
AmerisourceBergen Corporation	com	03073E105	36	436	SH		SOLE		436	0	0
Ames National Corporation	com	031001100	1,227	41,095	SH		SOLE		41,095	0	0
AMETEK, Inc.	com	031100100	157	2,371	SH		SOLE		2,371	0	0
Ampco-Pittsburgh Corporation	com	032037103	710	41,259	SH		SOLE		41,259	0	0
Amphenol Corporation	com	032095101	198	2,338	SH		SOLE		2,338	0	0
Anixter International Inc.	com	035290105	40	468	SH		SOLE		468	0	0
Aon PLC	com	G0408V102	64	440	SH		SOLE		440	0	0
Apogee Enterprises, Inc.	com	037598109	1,918	39,861	SH		SOLE		39,861	0	0
Applied Industrial Technologies, Inc.	com	03820C105	22	340	SH		SOLE		340	0	0
AptarGroup, Inc.	com	038336103	1,858	21,673	SH		SOLE		21,673	0	0
Arctic Cat Inc.	com	039670104	24	1,453	SH		SOLE		1,453	0	0
Ares Capital Corporation	com	04010L103	5,907	360,363	SH		SOLE		360,363	0	0
Arthur J. Gallagher & Co.	com	363576109	4,448	72,347	SH		SOLE		72,347	0	0
Associated Banc-Corp	com	045487105	82	3,398	SH		SOLE		3,398	0	0
Astec Industries, Inc.	com	046224101	2,643	47,183	SH		SOLE		47,183	0	0
AT&T Inc.	com	00206R102	4,795	122,367	SH		SOLE		122,367	0	0
Atrion Corporation	com	049904105	1,558	2,343	SH		SOLE		2,343	0	0
Auburn National Bancorporation, Inc.	com	050473107	673	19,234	SH		SOLE		19,234	0	0
Avery Dennison Corporation	com	053611109	49	502	SH		SOLE		502	0	0
Badger Meter, Inc.	com	056525108	1,722	35,005	SH		SOLE		35,005	0	0
Baldwin & Lyons Inc.	com	057755209	440	19,488	SH		SOLE		19,488	0	0
Brown & Brown, Inc.	com	115236101	24	498	SH		SOLE		498	0	0
C.R. Bard, Inc.	com	067383109	312	972	SH		SOLE		972	0	0
Cabot Microelectronics Corporation	com	12709P103	1,828	23,123	SH		SOLE		23,123	0	0
Cal-Maine Foods, Inc.	com	128030202	1,377	33,510	SH		SOLE		33,510	0	0
CARBO Ceramics Inc.	com	140781105	507	58,565	SH		SOLE		58,565	0	0
Chevron Corporation	com	166764100	6,142	52,296	SH		SOLE		52,296	0	0
Church & Dwight Co., Inc.	com	171340102	157	3,248	SH		SOLE		3,248	0	0
Cintas Corporation	com	172908105	224	1,550	SH		SOLE		1,550	0	0
Cisco Systems, Inc.	com	17275R102	5,070	150,806	SH		SOLE		150,806	0	0
Columbus McKinnon Corporation	com	199333105	2,239	60,156	SH		SOLE		60,156	0	0
Copart, Inc.	com	217204106	200	5,806	SH		SOLE		5,806	0	0
CPI Aerostructures, Inc.	com	125919308	6	956	SH		SOLE		956	0	0
Crown Castle International Corp.	com	22822V101	5,073	50,738	SH		SOLE		50,738	0	0
CSW Industrials, Inc.	com	126402106	568	12,808	SH		SOLE		12,808	0	0
Cubic Corporation	com	229669106	1,485	29,207	SH		SOLE		29,207	0	0
Darden Restaurants, Inc.	com	237194105	5,073	64,427	SH		SOLE		64,427	0	0
Diamondback Energy, Inc.	com	25278X109	54	552	SH		SOLE		552	0	0
Digital Realty Trust, Inc.	com	253868103	5,330	45,091	SH		SOLE		45,091	0	0
DowDuPont Inc.	com	26078J100	5,779	83,481	SH		SOLE		83,481	0	0
Dril-Quip, Inc.	com	262037104	1,531	34,525	SH		SOLE		34,525	0	0
Duke Energy Corporation	com	26441C204	4,904	58,461	SH		SOLE		58,461	0	0
Duluth Holdings Inc.	com	26443V101	437	21,382	SH		SOLE		21,382	0	0
Eagle Bancorp Montana, Inc.	com	26942G100	596	32,232	SH		SOLE		32,232	0	0
Emerson Electric Co.	com	291011104	5,174	82,376	SH		SOLE		82,376	0	0
Espey Mfg. & Electronics Corp.	com	296650104	540	23,865	SH		SOLE		23,865	0	0
Fidelity National Information Services, Inc.	com	31620M106	74	788	SH		SOLE		788	0	0
Fiserv, Inc.	com	337738108	141	1,093	SH		SOLE		1,093	0	0
Flowers Foods, Inc.	com	343498101	1,168	62,168	SH		SOLE		62,168	0	0
Franklin Electric Co., Inc.	com	353514102	451	10,149	SH		SOLE		10,149	0	0
FreightCar America, Inc.	com	357023100	544	28,118	SH		SOLE		28,118	0	0
German American Bancorp, Inc.	com	373865104	2,064	54,360	SH		SOLE		54,360	0	0
Global Payments Inc.	com	37940X102	119	1,252	SH		SOLE		1,252	0	0
Graham Corporation	com	384556106	1,094	52,637	SH		SOLE		52,637	0	0
Granite Construction Incorporated	com	387328107	7,600	131,884	SH		SOLE		131,884	0	0
Gulf Island Fabrication, Inc.	com	402307102	1,078	85,843	SH		SOLE		85,843	0	0
Hardinge Inc.	com	412324303	1,079	71,802	SH		SOLE		71,802	0	0
Hawkins, Inc.	com	420261109	592	14,488	SH		SOLE		14,488	0	0
Henry Schein, Inc.	com	806407102	129	1,570	SH		SOLE		1,570	0	0
Hooker Furniture Corporation	com	439038100	1,308	28,132	SH		SOLE		28,132	0	0
Host Hotels & Resorts, Inc.	com	44107P104	84	4,533	SH		SOLE		4,533	0	0
HP Inc.	com	40434L105	6,987	350,516	SH		SOLE		350,516	0	0
Hubbell Incorporated	com	443510607	85	729	SH		SOLE		729	0	0
Hyster-Yale Materials Handling, Inc.	com	449172105	1,626	21,361	SH		SOLE		21,361	0	0
ICU Medical, Inc.	com	44930G107	1,595	8,705	SH		SOLE		8,705	0	0
International Business Machines Corporation	com	459200101	4,110	28,299	SH		SOLE		28,299	0	0
Intuit Inc.	com	461202103	61	428	SH		SOLE		428	0	0
J & J Snack Foods Corp.	com	466032109	5,691	43,503	SH		SOLE		43,503	0	0
Johnson & Johnson	com	478160104	5,582	42,964	SH		SOLE		42,964	0	0
Johnson Outdoors Inc.	com	479167108	2,465	34,943	SH		SOLE		34,943	0	0
Kewaunee Scientific Corporation	com	492854104	382	13,146	SH		SOLE		13,146	0	0
Kimball Electronics, Inc.	com	49428J109	1,541	72,090	SH		SOLE		72,090	0	0
Kimberly-Clark Corporation	com	494368103	4,895	41,575	SH		SOLE		41,575	0	0
KMG Chemicals, Inc.	com	482564101	2,037	37,762	SH		SOLE		37,762	0	0
L. B. Foster Company	com	350060109	1,780	79,317	SH		SOLE		79,317	0	0
Lakeland Industries, Inc.	com	511795106	561	40,327	SH		SOLE		40,327	0	0
Leggett & Platt, Incorporated	com	524660107	3,873	81,099	SH		SOLE		81,099	0	0
Lincoln Electric Holdings, Inc.	com	533900106	18	310	SH		SOLE		310	0	0
Lockheed Martin Corporation	com	539830109	5,235	16,895	SH		SOLE		16,895	0	0
LSI Industries Inc.	com	50216C108	774	113,872	SH		SOLE		113,872	0	0
Marten Transport, Ltd.	com	573075108	728	35,430	SH		SOLE		35,430	0	0
McDonald's Corporation	com	580135101	7,473	47,770	SH		SOLE		47,770	0	0
MEDNAX, Inc.	com	58502B106	32	743	SH		SOLE		743	0	0
Merck & Co., Inc.	com	58933Y105	4,717	73,702	SH		SOLE		73,702	0	0
Merit Medical Systems, Inc.	com	589889104	1,568	37,539	SH		SOLE		37,539	0	0
Microchip Technology Incorporated	com	595017104	51	679	SH		SOLE		679	0	0
Microsoft Corporation	com	594918104	78	1,045	SH		SOLE		1,045	0	0
Miller Industries, Inc.	com	600551204	1,050	37,759	SH		SOLE		37,759	0	0
Mine Safety Appliances Company, LLC	com	553498106	5,700	72,435	SH		SOLE		72,435	0	0
MKS Instruments, Inc.	com	55306N104	1,871	20,221	SH		SOLE		20,221	0	0
Mohawk Industries, Inc.	com	608190104	84	341	SH		SOLE		341	0	0
Monarch Casino & Resort, Inc.	com	609027107	2,054	52,487	SH		SOLE		52,487	0	0
MSC Industrial Direct Co., Inc.	com	553530106	50	663	SH		SOLE		663	0	0
MYR Group Inc.	com	55405W104	1,173	40,249	SH		SOLE		40,249	0	0
National Presto Industries, Inc.	com	637215104	2,101	19,819	SH		SOLE		19,819	0	0
NCR Corporation	com	62886E108	5	135	SH		SOLE		135	0	0
Oil States International, Inc.	com	678026105	609	24,024	SH		SOLE		24,024	0	0
Oil-Dri Corporation of America	com	677864100	753	15,565	SH		SOLE		15,565	0	0
Park Electrochemical Corp.	com	700416209	937	50,744	SH		SOLE		50,744	0	0
Paychex, Inc.	com	704326107	5,311	88,577	SH		SOLE		88,577	0	0
Perma-Pipe International Holdings, Inc.	com	714167103	466	54,877	SH		SOLE		54,877	0	0
Perma-Pipe International Holdings, Inc.	com	552721102	16	2,178	SH		SOLE		2,178	0	0
Philip Morris International Inc.	com	718172109	5,457	49,197	SH		SOLE		49,197	0	0
Pioneer Natural Resources Company	com	723787107	72	490	SH		SOLE		490	0	0
Powell Industries, Inc.	com	739128106	1,172	38,945	SH		SOLE		38,945	0	0
Quanta Services, Inc.	com	74762E102	86	2,303	SH		SOLE		2,303	0	0
Red Hat, Inc.	com	756577102	24	218	SH		SOLE		218	0	0
Republic Services, Inc.	com	760759100	209	3,166	SH		SOLE		3,166	0	0
ResMed Inc.	com	761152107	63	818	SH		SOLE		818	0	0
Reynolds American Inc.	com	761713106	58	1,009	SH		SOLE		1,009	0	0
Royal Dutch Shell PLC	com	780259107	5,058	80,869	SH		SOLE		80,869	0	0
RPC, Inc.	com	749660106	1,471	59,836	SH		SOLE		59,836	0	0
RPM International Inc.	com	749685103	75	1,458	SH		SOLE		1,458	0	0
Sanderson Farms, Inc.	com	800013104	2,075	12,985	SH		SOLE		12,985	0	0
SIFCO Industries, Inc.	com	826546103	983	171,456	SH		SOLE		171,456	0	0
Simpson Manufacturing Co., Inc.	com	829073105	1,615	32,931	SH		SOLE		32,931	0	0
Six Flags Operations Inc.	com	83001A102	7,618	125,025	SH		SOLE		125,025	0	0
Snap-on Incorporated	com	833034101	64	430	SH		SOLE		430	0	0
Sonic Corp.	com	835451105	28	1,081	SH		SOLE		1,081	0	0
Span-America Medical Systems, Inc.	com	846396109	26	1,430	SH		SOLE		1,430	0	0
Stericycle, Inc.	com	858912108	97	1,351	SH		SOLE		1,351	0	0
Sturm, Ruger & Company, Inc.	com	864159108	6,199	119,513	SH		SOLE		119,513	0	0
Sun Hydraulics Corporation	com	866942105	34	1,114	SH		SOLE		1,114	0	0
Synalloy Corporation	com	871565107	606	49,272	SH		SOLE		49,272	0	0
Target Corporation	com	87612E106	3,687	62,466	SH		SOLE		62,466	0	0
The Buckle, Inc.	com	118440106	406	23,629	SH		SOLE		23,629	0	0
The Coca-Cola Company	com	191216100	4,593	102,067	SH		SOLE		102,067	0	0
The Dow Chemical Company	com	260543103	38	644	SH		SOLE		644	0	0
The First of Long Island Corporation	com	320734106	1,483	48,714	SH		SOLE		48,714	0	0
The Gorman- Rupp Company	com	383082104	7,390	227,623	SH		SOLE		227,623	0	0
The Hingham Institute for Savings	com	433323102	1,043	5,558	SH		SOLE		5,558	0	0
The Interpublic Group of Companies, Inc.	com	460690100	41	1,973	SH		SOLE		1,973	0	0
The L. S. Starrett Company	com	855668109	136	15,003	SH		SOLE		15,003	0	0
The Marcus Corporation	com	566330106	6,738	245,007	SH		SOLE		245,007	0	0
The Procter & Gamble Company	com	742718109	5,201	57,189	SH		SOLE		57,189	0	0
The Southern Company	com	842587107	5,225	106,320	SH		SOLE		106,320	0	0
Thermo Fisher Scientific Inc.	com	883556102	291	1,538	SH		SOLE		1,538	0	0
Thor Industries, Inc.	com	885160101	1,173	9,498	SH		SOLE		9,498	0	0
Twin Disc, Incorporated	com	901476101	1,967	106,908	SH		SOLE		106,908	0	0
Unit Corporation	com	909218109	1,591	77,804	SH		SOLE		77,804	0	0
United Fire Group, Inc.	com	910340108	399	8,706	SH		SOLE		8,706	0	0
Utah Medical Products, Inc.	com	917488108	2,070	28,251	SH		SOLE		28,251	0	0
Value Line, Inc.	com	920437100	280	15,951	SH		SOLE		15,951	0	0
Varian Medical Systems, Inc.	com	92220P105	39	385	SH		SOLE		385	0	0
Verizon Communications Inc.	com	92343V104	5,592	112,984	SH		SOLE		112,984	0	0
W. P. Carey Inc.	com	92936U109	5,132	76,182	SH		SOLE		76,182	0	0
Wabash National Corporation	com	929566107	679	29,735	SH		SOLE		29,735	0	0
Waste Management, Inc.	com	94106L109	6,574	84,060	SH		SOLE		84,060	0	0
Weis Markets, Inc.	com	948849104	5,395	123,875	SH		SOLE		123,875	0	0
Zumiez Inc.	com	989817101	213	11,829	SH		SOLE		11,829	0	0