Sippican Capital Advisors 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

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

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
3M Co	cs	88579y101	344	1,800	SH		SOLE		1,800	0	0
Abbott Laboratories	cs	002824100	451	10,165	SH		SOLE		10,165	0	0
Abbvie Inc	cs	00287y109	1,459	22,394	SH		SOLE		22,394	0	0
Adobe Systems Inc	cs	00724f101	260	2,000	SH		SOLE		2,000	0	0
AK Steel Holding Corp	cs	001547108	1,512	210,310	SH		SOLE		210,310	0	0
Allergan PLC	cs	g0177j108	907	3,795	SH		SOLE		3,795	0	0
American Express Co	cs	025816109	570	7,200	SH		SOLE		7,200	0	0
Apple Inc	cs	037833100	706	4,912	SH		SOLE		4,912	0	0
AT&T Inc	cs	00206r102	204	4,917	SH		SOLE		4,917	0	0
Bancorp Inc	cs	05969a105	1,878	368,275	SH		SOLE		368,275	0	0
Bank Hawaii Corp	cs	062540109	307	3,727	SH		SOLE		3,727	0	0
Bank of America Corporation	cs	060505104	355	15,040	SH		SOLE		15,040	0	0
Bank of New York Mellon Corp	cs	064058100	237	5,025	SH		SOLE		5,025	0	0
Banner Corp	cs	06652v208	770	13,833	SH		SOLE		13,833	0	0
Berkshire Hathaway Inc Cl B	cs	084670702	1,570	9,421	SH		SOLE		9,421	0	0
Boeing Co	cs	097023105	330	1,866	SH		SOLE		1,866	0	0
Bristol-Myers Squibb Co	cs	110122108	892	16,405	SH		SOLE		16,405	0	0
Brown Forman Corp Cl A	cs	115637100	746	15,850	SH		SOLE		15,850	0	0
Brown Forman Corp Cl B	cs	115637209	661	14,308	SH		SOLE		14,308	0	0
Cambridge Bancorp	cs	132152109	1,974	30,366	SH		SOLE		30,366	0	0
Capital Bank Financial Corp Cl	cs	139794101	219	5,057	SH		SOLE		5,057	0	0
Caterpillar Inc	cs	149123101	464	5,000	SH		SOLE		5,000	0	0
Celgene Corp	cs	151020104	562	4,513	SH		SOLE		4,513	0	0
Central Securities Corp	cs	155123102	755	31,500	SH		SOLE		31,500	0	0
CF Industries Holdings Inc	cs	125269100	906	30,883	SH		SOLE		30,883	0	0
Chevron Corp	cs	166764100	2,030	18,906	SH		SOLE		18,906	0	0
Chubb Limited	cs	h1467j104	1,275	9,356	SH		SOLE		9,356	0	0
Cimarex Energy Co	cs	171798101	737	6,166	SH		SOLE		6,166	0	0
Cincinnati Financial Corp	cs	172062101	242	3,350	SH		SOLE		3,350	0	0
CoBiz Financial Inc	cs	190897108	892	53,100	SH		SOLE		53,100	0	0
Coca-Cola Co	cs	191216100	337	7,942	SH		SOLE		7,942	0	0
Colgate Palmolive Co	cs	194162103	844	11,525	SH		SOLE		11,525	0	0
ConocoPhillips	cs	20825c104	239	4,785	SH		SOLE		4,785	0	0
CVS Health Corporation	cs	126650100	406	5,170	SH		SOLE		5,170	0	0
Deere & Co	cs	244199105	613	5,635	SH		SOLE		5,635	0	0
Disney Walt Co Disney	cs	254687106	936	8,255	SH		SOLE		8,255	0	0
Eaton Corp PLC	cs	g29183103	1,905	25,693	SH		SOLE		25,693	0	0
Eaton Vance Corp Non Vtg	cs	278265103	385	8,565	SH		SOLE		8,565	0	0
Eli Lilly & Co	cs	532457108	1,448	17,213	SH		SOLE		17,213	0	0
Emerson Electric Co	cs	291011104	327	5,464	SH		SOLE		5,464	0	0
Ensco PLC Class A	cs	g3157s106	1,482	165,590	SH		SOLE		165,590	0	0
EOG Resources Inc	cs	26875p101	886	9,078	SH		SOLE		9,078	0	0
EQT Corp	cs	26884l109	1,222	19,998	SH		SOLE		19,998	0	0
Exxon Mobil Corp	cs	30231g102	1,471	17,935	SH		SOLE		17,935	0	0
Frp Holdings Inc	cs	30292l107	432	10,800	SH		SOLE		10,800	0	0
General Electric Co	cs	369604103	1,084	36,360	SH		SOLE		36,360	0	0
General Mills Inc	cs	370334104	1,525	25,850	SH		SOLE		25,850	0	0
Gilead Sciences Inc	cs	375558103	757	11,151	SH		SOLE		11,151	0	0
Halliburton Co	cs	406216101	244	4,955	SH		SOLE		4,955	0	0
Hershey Co	cs	427866108	311	2,850	SH		SOLE		2,850	0	0
Home Depot Inc	cs	437076102	353	2,405	SH		SOLE		2,405	0	0
Honeywell Intl Inc	cs	438516106	1,870	14,976	SH		SOLE		14,976	0	0
Johnson & Johnson	cs	478160104	445	3,574	SH		SOLE		3,574	0	0
JPMorgan Chase & Co	cs	46625h100	1,261	14,350	SH		SOLE		14,350	0	0
Kinder Morgan Inc	cs	49456b101	243	11,165	SH		SOLE		11,165	0	0
Lennar Corp Cl A	cs	526057104	1,791	34,990	SH		SOLE		34,990	0	0
Lincoln Natl Corp Ind	cs	534187109	208	3,178	SH		SOLE		3,178	0	0
Lyon William Homes Cl A	cs	552074700	1,573	76,267	SH		SOLE		76,267	0	0
MB Financial Inc	cs	55264u108	1,200	28,015	SH		SOLE		28,015	0	0
McDermott Intl Inc	cs	580037109	1,979	293,218	SH		SOLE		293,218	0	0
Merck & Co Inc	cs	58933y105	1,020	16,056	SH		SOLE		16,056	0	0
Meta Financial Group Inc	cs	59100u108	368	4,154	SH		SOLE		4,154	0	0
MGM Resorts International	cs	552953101	270	9,850	SH		SOLE		9,850	0	0
Nabors Industries Ltd	cs	g6359f103	1,842	140,952	SH		SOLE		140,952	0	0
NBT Bancorp Inc	cs	628778102	282	7,600	SH		SOLE		7,600	0	0
Newstar Financial Inc	cs	65251f105	2,482	234,557	SH		SOLE		234,557	0	0
NOBLE CORP PLC SHS USD	cs	g65431101	1,376	222,231	SH		SOLE		222,231	0	0
Nucor Corp	cs	670346105	1,388	23,238	SH		SOLE		23,238	0	0
NVR Inc	cs	62944t105	3,521	1,671	SH		SOLE		1,671	0	0
Onemain Holdings Inc	cs	68268w103	711	28,630	SH		SOLE		28,630	0	0
Paccar Inc	cs	693718108	1,800	26,781	SH		SOLE		26,781	0	0
PacWest Bancorp Del	cs	695263103	477	8,948	SH		SOLE		8,948	0	0
PepsiCo Inc	cs	713448108	715	6,390	SH		SOLE		6,390	0	0
Pfizer Inc	cs	717081103	1,162	33,980	SH		SOLE		33,980	0	0
Procter & Gamble Co	cs	742718109	388	4,316	SH		SOLE		4,316	0	0
Range Resources Corp	cs	75281a109	703	24,175	SH		SOLE		24,175	0	0
Regional Mgmt Corp	cs	75902k106	266	13,687	SH		SOLE		13,687	0	0
Seacoast Banking Corp FL	cs	811707801	237	9,870	SH		SOLE		9,870	0	0
Southwestern Energy Co	cs	845467109	487	59,600	SH		SOLE		59,600	0	0
Synovus Finl Corp	cs	87161c501	2,449	59,705	SH		SOLE		59,705	0	0
Travelers Companies Inc	cs	89417e109	362	3,000	SH		SOLE		3,000	0	0
United Community Banks Blairsv	cs	90984p303	2,179	78,700	SH		SOLE		78,700	0	0
United States Steel Corp	cs	912909108	1,466	43,374	SH		SOLE		43,374	0	0
VF Corp	cs	918204108	236	4,299	SH		SOLE		4,299	0	0
Visa Inc Cl A	cs	92826c839	222	2,500	SH		SOLE		2,500	0	0
Vulcan Materials Co	cs	929160109	723	6,000	SH		SOLE		6,000	0	0
Weatherford Intl PLC	cs	g48833100	1,854	278,740	SH		SOLE		278,740	0	0
Wells Fargo & Co	cs	949746101	2,522	45,310	SH		SOLE		45,310	0	0
Western Alliance Bancorp	cs	957638109	2,080	42,380	SH		SOLE		42,380	0	0
Williams Clayton Energy Inc	cs	969490101	3,017	22,845	SH		SOLE		22,845	0	0
Zions Bancorporation	cs	989701107	1,226	29,185	SH		SOLE		29,185	0	0
Royal Dutch Shell PLC Sp ADR A	ad	780259206	464	8,800	SH		SOLE		8,800	0	0
Royal Dutch Shell PLC Sp ADR B	ad	780259107	210	3,759	SH		SOLE		3,759	0	0
Tekla Healthcare Invs	mf	87911j103	409	17,000	SH		SOLE		17,000	0	0
Enbridge Energy Partners LP	ml	29250r106	536	28,190	SH		SOLE		28,190	0	0
Energy Transfer Partners LP	ml	29273r109	504	13,789	SH		SOLE		13,789	0	0
Enterprise Products Partners L	ml	293792107	369	13,355	SH		SOLE		13,355	0	0
Golar LNG Partners LP Lpi	ml	y2745c102	571	25,556	SH		SOLE		25,556	0	0
Martin Midstream Partners LP	ml	573331105	552	27,620	SH		SOLE		27,620	0	0
Plains All American Pipeline L	ml	726503105	618	19,545	SH		SOLE		19,545	0	0
Annaly Cap Mgmt Inc	re	035710409	124	11,140	SH		SOLE		11,140	0	0
Genco Shipping & Trading Ltd W	wt	y2685t123	7	47,249	SH		SOLE		47,249	0	0