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
AmerisourceBergen Corporation	COM	03073E105	29	317	SH		SOLE		317	0	0
AECOM	COM	00766T100	30	928	SH		SOLE		928	0	0
Applied Industrial Technologies, Inc.	COM	03820C105	62	796	SH		SOLE		796	0	0
Arthur J. Gallagher & Co.	COM	363576109	5,012	67,332	SH		SOLE		67,332	0	0
AMETEK, Inc.	COM	031100100	153	1,936	SH		SOLE		1,936	0	0
Aon PLC	COM	G0408V102	51	332	SH		SOLE		332	0	0
Amphenol Corporation	COM	032095101	180	1,911	SH		SOLE		1,911	0	0
Apogee Enterprises, Inc.	COM	037598109	917	22,204	SH		SOLE		22,204	0	0
Ares Capital Corporation	COM	04010L103	5,805	337,676	SH		SOLE		337,676	0	0
Associated Banc-Corp	COM	045487105	96	3,683	SH		SOLE		3,683	0	0
Astec Industries, Inc.	COM	046224101	1,057	20,974	SH		SOLE		20,974	0	0
Ames National Corporation	COM	031001100	710	26,044	SH		SOLE		26,044	0	0
AptarGroup, Inc.	COM	038336103	1,144	10,618	SH		SOLE		10,618	0	0
Atrion Corporation	COM	049904105	791	1,139	SH		SOLE		1,139	0	0
Auburn National Bancorporation, Inc.	COM	050473107	636	16,603	SH		SOLE		16,603	0	0
Avery Dennison Corporation	COM	053611109	44	407	SH		SOLE		407	0	0
Bar Harbor Bankshares	COM	066849100	720	25,059	SH		SOLE		25,059	0	0
Badger Meter, Inc.	COM	056525108	929	17,547	SH		SOLE		17,547	0	0
Brown & Brown, Inc.	COM	115236101	87	2,952	SH		SOLE		2,952	0	0
Cal-Maine Foods, Inc.	COM	128030202	948	19,633	SH		SOLE		19,633	0	0
Crown Castle International Corp.	COM	22822V101	5,314	47,732	SH		SOLE		47,732	0	0
Crown Castle International Corp.	COM	228227104	9	83	SH		SOLE		83	0	0
Cabot Microelectronics Corporation	COM	12709P103	935	9,066	SH		SOLE		9,066	0	0
Church & Dwight Co., Inc.	COM	171340102	139	2,334	SH		SOLE		2,334	0	0
Columbus McKinnon Corporation	COM	199333105	799	20,197	SH		SOLE		20,197	0	0
Chipotle Mexican Grill, Inc.	COM	169656105	13	29	SH		SOLE		29	0	0
Cohu, Inc.	COM	192576106	392	15,612	SH		SOLE		15,612	0	0
Copart, Inc.	COM	217204106	173	3,353	SH		SOLE		3,353	0	0
Cisco Systems, Inc.	COM	17275R102	6,887	141,556	SH		SOLE		141,556	0	0
CSW Industrials, Inc.	COM	126402106	581	10,826	SH		SOLE		10,826	0	0
Cintas Corporation	COM	172908105	218	1,104	SH		SOLE		1,104	0	0
Cubic Corporation	COM	229669106	1,160	15,886	SH		SOLE		15,886	0	0
Chevron Corporation	COM	166764100	5,993	49,011	SH		SOLE		49,011	0	0
Diodes Incorporated	COM	254543101	666	19,991	SH		SOLE		19,991	0	0
Dick's Sporting Goods, Inc.	COM	253393102	39	1,098	SH		SOLE		1,098	0	0
Digital Realty Trust, Inc.	COM	253868103	4,554	40,487	SH		SOLE		40,487	0	0
Duluth Holdings Inc.	COM	26443V101	1,355	43,069	SH		SOLE		43,069	0	0
Darden Restaurants, Inc.	COM	237194105	6,738	60,597	SH		SOLE		60,597	0	0
Dril-Quip, Inc.	COM	262037104	1,076	20,602	SH		SOLE		20,602	0	0
Duke Energy Corporation	COM	26441C204	4,413	55,151	SH		SOLE		55,151	0	0
Duke Energy Corporation	COM	26441C105	2	31	SH		SOLE		31	0	0
Eagle Bancorp Montana, Inc.	COM	26942G100	513	28,291	SH		SOLE		28,291	0	0
Emerson Electric Co.	COM	291011104	5,926	77,380	SH		SOLE		77,380	0	0
Espey Mfg. & Electronics Corp.	COM	296650104	581	19,455	SH		SOLE		19,455	0	0
Diamondback Energy, Inc.	COM	25278X109	55	408	SH		SOLE		408	0	0
Facebook, Inc.	COM	30303M102	33	200	SH		SOLE		200	0	0
Franklin Electric Co., Inc.	COM	353514102	391	8,268	SH		SOLE		8,268	0	0
Fiserv, Inc.	COM	337738108	148	1,794	SH		SOLE		1,794	0	0
The First of Long Island Corporation	COM	320734106	523	24,041	SH		SOLE		24,041	0	0
Flowers Foods, Inc.	COM	343498101	592	31,733	SH		SOLE		31,733	0	0
Keane Group, Inc.	COM	48669A108	409	33,043	SH		SOLE		33,043	0	0
L. B. Foster Company	COM	350060109	974	47,382	SH		SOLE		47,382	0	0
German American Bancorp, Inc.	COM	373865104	1,217	34,505	SH		SOLE		34,505	0	0
Graham Corporation	COM	384556106	845	29,997	SH		SOLE		29,997	0	0
Gulf Island Fabrication, Inc.	COM	402307102	450	45,240	SH		SOLE		45,240	0	0
General Mills, Inc.	COM	370334104	4,470	104,148	SH		SOLE		104,148	0	0
Global Payments Inc.	COM	37940X102	124	977	SH		SOLE		977	0	0
The Gorman- Rupp Company	COM	383082104	4,156	113,858	SH		SOLE		113,858	0	0
Granite Construction Incorporated	COM	387328107	3,480	76,152	SH		SOLE		76,152	0	0
The Hingham Institute for Savings	COM	433323102	984	4,477	SH		SOLE		4,477	0	0
Hooker Furniture Corporation	COM	439038100	766	22,665	SH		SOLE		22,665	0	0
Helmerich & Payne, Inc.	COM	423452101	2	25	SH		SOLE		25	0	0
HP Inc.	COM	40434L105	6,691	259,637	SH		SOLE		259,637	0	0
HP Inc.	COM	428236103	4	152	SH		SOLE		152	0	0
Henry Schein, Inc.	COM	806407102	100	1,171	SH		SOLE		1,171	0	0
Host Hotels & Resorts, Inc.	COM	44107P104	73	3,439	SH		SOLE		3,439	0	0
Hubbell Incorporated	COM	443510607	74	553	SH		SOLE		553	0	0
Hawkins, Inc.	COM	420261109	489	11,802	SH		SOLE		11,802	0	0
Hyster-Yale Materials Handling, Inc.	COM	449172105	721	11,720	SH		SOLE		11,720	0	0
International Business Machines Corporation	COM	459200101	5,050	33,395	SH		SOLE		33,395	0	0
ICU Medical, Inc.	COM	44930G107	968	3,422	SH		SOLE		3,422	0	0
Insteel Industries, Inc.	COM	45774W108	817	22,769	SH		SOLE		22,769	0	0
Intuit Inc.	COM	461202103	71	314	SH		SOLE		314	0	0
The Interpublic Group of Companies, Inc.	COM	460690100	34	1,487	SH		SOLE		1,487	0	0
IPG Photonics Corporation	COM	44980X109	20	128	SH		SOLE		128	0	0
J & J Snack Foods Corp.	COM	466032109	3,409	22,593	SH		SOLE		22,593	0	0
Johnson & Johnson	COM	478160104	5,581	40,390	SH		SOLE		40,390	0	0
Johnson Outdoors Inc.	COM	479167108	1,471	15,818	SH		SOLE		15,818	0	0
Kimball Electronics, Inc.	COM	49428J109	875	44,553	SH		SOLE		44,553	0	0
Kewaunee Scientific Corporation	COM	492854104	328	10,422	SH		SOLE		10,422	0	0
KeyCorp	COM	493267108	32	1,614	SH		SOLE		1,614	0	0
Kimberly-Clark Corporation	COM	494368103	4,420	38,894	SH		SOLE		38,894	0	0
The Coca-Cola Company	COM	191216100	4,451	96,358	SH		SOLE		96,358	0	0
Lakeland Industries, Inc.	COM	511795106	438	32,940	SH		SOLE		32,940	0	0
Leggett & Platt, Incorporated	COM	524660107	3,361	76,763	SH		SOLE		76,763	0	0
Lockheed Martin Corporation	COM	539830109	5,483	15,848	SH		SOLE		15,848	0	0
Alliant Energy Corporation	COM	018802108	124	2,904	SH		SOLE		2,904	0	0
McDonald's Corporation	COM	580135101	7,492	44,784	SH		SOLE		44,784	0	0
Monarch Casino & Resort, Inc.	COM	609027107	1,138	25,034	SH		SOLE		25,034	0	0
The Marcus Corporation	COM	566330106	4,350	103,439	SH		SOLE		103,439	0	0
Mednax, Inc.	COM	58502B106	26	560	SH		SOLE		560	0	0
Mohawk Industries, Inc.	COM	608190104	45	258	SH		SOLE		258	0	0
M/I Homes, Inc.	COM	55305B101	587	24,523	SH		SOLE		24,523	0	0
MKS Instruments, Inc.	COM	55306N104	517	6,445	SH		SOLE		6,445	0	0
Miller Industries, Inc.	COM	600551204	490	18,209	SH		SOLE		18,209	0	0
Merit Medical Systems, Inc.	COM	589889104	1,175	19,129	SH		SOLE		19,129	0	0
Altria Group, Inc.	COM	02209S103	6,311	104,644	SH		SOLE		104,644	0	0
Merck & Co., Inc.	COM	58933Y105	6,740	95,015	SH		SOLE		95,015	0	0
Marten Transport, Ltd.	COM	573075108	613	29,135	SH		SOLE		29,135	0	0
Mine Safety Appliances Company, LLC	COM	553498106	3,919	36,818	SH		SOLE		36,818	0	0
Microsoft Corporation	COM	594918104	91	795	SH		SOLE		795	0	0
MSC Industrial Direct Co., Inc.	COM	553530106	44	503	SH		SOLE		503	0	0
MYR Group Inc.	COM	55405W104	1,103	33,783	SH		SOLE		33,783	0	0
Nicolet Bankshares, Inc.	COM	65406E102	374	6,869	SH		SOLE		6,869	0	0
National Presto Industries, Inc.	COM	637215104	1,338	10,319	SH		SOLE		10,319	0	0
Northwest Pipe Company	COM	667746101	397	20,098	SH		SOLE		20,098	0	0
Oil-Dri Corporation of America	COM	677864100	488	12,665	SH		SOLE		12,665	0	0
Oil States International, Inc.	COM	678026105	310	9,336	SH		SOLE		9,336	0	0
Paychex, Inc.	COM	704326107	6,095	82,750	SH		SOLE		82,750	0	0
Pfizer Inc.	COM	717081103	3,011	68,328	SH		SOLE		68,328	0	0
The Procter & Gamble Company	COM	742718109	5,922	71,148	SH		SOLE		71,148	0	0
Park Electrochemical Corp.	COM	700416209	543	27,841	SH		SOLE		27,841	0	0
Philip Morris International Inc.	COM	718172109	5,317	65,204	SH		SOLE		65,204	0	0
Powell Industries, Inc.	COM	739128106	763	21,050	SH		SOLE		21,050	0	0
Perma-Pipe International Holdings, Inc.	COM	714167103	420	46,105	SH		SOLE		46,105	0	0
Quanta Services, Inc.	COM	74762E102	56	1,684	SH		SOLE		1,684	0	0
Pioneer Natural Resources Company	COM	723787107	60	346	SH		SOLE		346	0	0
FreightCar America, Inc.	COM	357023100	369	22,962	SH		SOLE		22,962	0	0
Royal Dutch Shell PLC	COM	780259107	5,482	77,285	SH		SOLE		77,285	0	0
RPC, Inc.	COM	749660106	425	27,479	SH		SOLE		27,479	0	0
Sturm, Ruger & Company, Inc.	COM	864159108	4,194	60,735	SH		SOLE		60,735	0	0
Red Hat, Inc.	COM	756577102	49	357	SH		SOLE		357	0	0
ResMed Inc.	COM	761152107	71	617	SH		SOLE		617	0	0
Ross Stores, Inc.	COM	778296103	60	609	SH		SOLE		609	0	0
RPM International Inc.	COM	749685103	79	1,216	SH		SOLE		1,216	0	0
Republic Services, Inc.	COM	760759100	151	2,078	SH		SOLE		2,078	0	0
Sanderson Farms, Inc.	COM	800013104	564	5,455	SH		SOLE		5,455	0	0
SIFCO Industries, Inc.	COM	826546103	503	99,541	SH		SOLE		99,541	0	0
Six Flags Operations Inc.	COM	83001A102	8,250	118,161	SH		SOLE		118,161	0	0
Snap-on Incorporated	COM	833034101	57	313	SH		SOLE		313	0	0
The Southern Company	COM	842587107	4,389	100,659	SH		SOLE		100,659	0	0
Solaris Oilfield Infrastructure, Inc.	COM	83418M103	542	28,666	SH		SOLE		28,666	0	0
Sonic Corp.	COM	835451105	29	668	SH		SOLE		668	0	0
Simpson Manufacturing Co., Inc.	COM	829073105	1,113	15,367	SH		SOLE		15,367	0	0
Synalloy Corporation	COM	871565107	914	39,982	SH		SOLE		39,982	0	0
AT&T Inc.	COM	00206R102	4,789	142,628	SH		SOLE		142,628	0	0
Target Corporation	COM	87612E106	5,119	58,028	SH		SOLE		58,028	0	0
Thor Industries, Inc.	COM	885160101	427	5,098	SH		SOLE		5,098	0	0
Thermo Fisher Scientific Inc.	COM	883556102	284	1,165	SH		SOLE		1,165	0	0
Twin Disc, Incorporated	COM	901476101	995	43,171	SH		SOLE		43,171	0	0
United Fire Group, Inc.	COM	910340108	396	7,803	SH		SOLE		7,803	0	0
Umpqua Holdings Corporation	COM	904214103	16	750	SH		SOLE		750	0	0
Unit Corporation	COM	909218109	1,905	73,092	SH		SOLE		73,092	0	0
Utah Medical Products, Inc.	COM	917488108	1,160	12,313	SH		SOLE		12,313	0	0
Value Line, Inc.	COM	920437100	412	16,560	SH		SOLE		16,560	0	0
Varian Medical Systems, Inc.	COM	92220P105	31	278	SH		SOLE		278	0	0
Varex Imaging Corporation	COM	92214X106	3	120	SH		SOLE		120	0	0
Verizon Communications Inc.	COM	92343V104	5,791	108,472	SH		SOLE		108,472	0	0
Waste Management, Inc.	COM	94106L109	7,070	78,244	SH		SOLE		78,244	0	0
Weis Markets, Inc.	COM	948849104	3,504	80,746	SH		SOLE		80,746	0	0
Wabash National Corporation	COM	929566107	276	15,161	SH		SOLE		15,161	0	0
W. P. Carey Inc.	COM	92936U109	4,573	71,107	SH		SOLE		71,107	0	0
Exxon Mobil Corporation	COM	30231G102	1,916	22,541	SH		SOLE		22,541	0	0
ZAGG Inc	COM	98884U108	352	23,864	SH		SOLE		23,864	0	0