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
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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
3M Co	cs	88579y101	375	1,800	SH		SOLE	0	1,800	0	0
Abbott Laboratories	cs	002824100	505	10,399	SH		SOLE	0	10,399	0	0
AbbVie Inc	cs	00287y109	1,676	23,119	SH		SOLE	0	23,119	0	0
Adobe Systems Inc	cs	00724f101	283	2,000	SH		SOLE	0	2,000	0	0
AK Steel Holding Corp	cs	001547108	1,382	210,310	SH		SOLE	0	210,310	0	0
Allergan PLC	cs	g0177j108	947	3,895	SH		SOLE	0	3,895	0	0
American Express Co	cs	025816109	602	7,150	SH		SOLE	0	7,150	0	0
Apple Inc	cs	037833100	707	4,912	SH		SOLE	0	4,912	0	0
Bancorp Inc	cs	05969a105	2,771	365,561	SH		SOLE	0	365,561	0	0
Bank America Corp	cs	060505104	365	15,040	SH		SOLE	0	15,040	0	0
Bank Hawaii Corp	cs	062540109	309	3,727	SH		SOLE	0	3,727	0	0
Bank New York Mellon Corp	cs	064058100	227	4,450	SH		SOLE	0	4,450	0	0
Banner Corp	cs	06652v208	782	13,833	SH		SOLE	0	13,833	0	0
Berkshire Hathaway Inc Cl B	cs	084670702	1,594	9,413	SH		SOLE	0	9,413	0	0
Boeing Co	cs	097023105	360	1,819	SH		SOLE	0	1,819	0	0
Bristol-Myers Squibb Co	cs	110122108	977	17,529	SH		SOLE	0	17,529	0	0
Brown Forman Corp Cl A	cs	115637100	781	15,850	SH		SOLE	0	15,850	0	0
Brown Forman Corp Cl B	cs	115637209	695	14,308	SH		SOLE	0	14,308	0	0
Cambridge Bancorp	cs	132152109	2,042	30,366	SH		SOLE	0	30,366	0	0
Caterpillar Inc	cs	149123101	537	5,000	SH		SOLE	0	5,000	0	0
Celgene Corp	cs	151020104	750	5,777	SH		SOLE	0	5,777	0	0
Central Securities Corp	cs	155123102	785	31,500	SH		SOLE	0	31,500	0	0
CF Industries Holdings Inc	cs	125269100	1,023	36,604	SH		SOLE	0	36,604	0	0
Chevron Corp	cs	166764100	1,952	18,706	SH		SOLE	0	18,706	0	0
Chubb Limited	cs	h1467j104	1,244	8,555	SH		SOLE	0	8,555	0	0
Cimarex Energy Co	cs	171798101	636	6,767	SH		SOLE	0	6,767	0	0
Cincinnati Financial Corp	cs	172062101	243	3,350	SH		SOLE	0	3,350	0	0
CoBiz Financial Inc	cs	190897108	924	53,100	SH		SOLE	0	53,100	0	0
Coca-Cola Co	cs	191216100	347	7,742	SH		SOLE	0	7,742	0	0
Colgate Palmolive Co	cs	194162103	854	11,525	SH		SOLE	0	11,525	0	0
CVS Health Corp	cs	126650100	383	4,755	SH		SOLE	0	4,755	0	0
Darden Restaurants Inc	cs	237194105	211	2,330	SH		SOLE	0	2,330	0	0
Deere & Co	cs	244199105	696	5,635	SH		SOLE	0	5,635	0	0
Disney Walt Co Disney	cs	254687106	878	8,265	SH		SOLE	0	8,265	0	0
Eaton Corp PLC	cs	g29183103	2,000	25,692	SH		SOLE	0	25,692	0	0
Eaton Vance Corp Non Vtg	cs	278265103	405	8,565	SH		SOLE	0	8,565	0	0
Emerson Electric Co	cs	291011104	295	4,950	SH		SOLE	0	4,950	0	0
Ensco PLC Class A	cs	g3157s106	937	181,657	SH		SOLE	0	181,657	0	0
EOG Resources Inc	cs	26875p101	874	9,655	SH		SOLE	0	9,655	0	0
EQT Corp	cs	26884l109	1,428	24,376	SH		SOLE	0	24,376	0	0
Exxon Mobil Corp	cs	30231g102	1,422	17,610	SH		SOLE	0	17,610	0	0
Frp Holdings Inc	cs	30292l107	498	10,800	SH		SOLE	0	10,800	0	0
General Electric Co	cs	369604103	981	36,320	SH		SOLE	0	36,320	0	0
General Mills Inc	cs	370334104	1,321	23,850	SH		SOLE	0	23,850	0	0
Gilead Sciences Inc	cs	375558103	1,180	16,665	SH		SOLE	0	16,665	0	0
Halliburton Co	cs	406216101	212	4,955	SH		SOLE	0	4,955	0	0
Hershey Co	cs	427866108	306	2,850	SH		SOLE	0	2,850	0	0
Home Depot Inc	cs	437076102	369	2,405	SH		SOLE	0	2,405	0	0
Honeywell Intl Inc	cs	438516106	1,915	14,369	SH		SOLE	0	14,369	0	0
Johnson & Johnson	cs	478160104	485	3,669	SH		SOLE	0	3,669	0	0
JPMorgan Chase & Co	cs	46625h100	1,312	14,350	SH		SOLE	0	14,350	0	0
Lennar Corp Cl A	cs	526057104	1,866	34,990	SH		SOLE	0	34,990	0	0
Lilly Eli & Co	cs	532457108	1,416	17,211	SH		SOLE	0	17,211	0	0
Lincoln Natl Corp Ind	cs	534187109	215	3,178	SH		SOLE	0	3,178	0	0
Lyon William Homes Cl A	cs	552074700	1,828	75,713	SH		SOLE	0	75,713	0	0
MB Financial Inc	cs	55264u108	1,217	27,638	SH		SOLE	0	27,638	0	0
McDermott Intl Inc	cs	580037109	2,102	293,218	SH		SOLE	0	293,218	0	0
Merck & Co Inc	cs	58933y105	1,032	16,104	SH		SOLE	0	16,104	0	0
Meta Financial Group Inc	cs	59100u108	370	4,154	SH		SOLE	0	4,154	0	0
MGM Resorts International	cs	552953101	302	9,650	SH		SOLE	0	9,650	0	0
Nabors Industries Ltd	cs	g6359f103	1,294	158,928	SH		SOLE	0	158,928	0	0
NBT Bancorp Inc	cs	628778102	255	6,900	SH		SOLE	0	6,900	0	0
Newstar Financial Inc	cs	65251f105	2,168	206,472	SH		SOLE	0	206,472	0	0
Noble Corp PLC USD	cs	g65431101	904	249,770	SH		SOLE	0	249,770	0	0
Noble Energy Inc	cs	655044105	2,344	82,826	SH		SOLE	0	82,826	0	0
Nucor Corp	cs	670346105	611	10,559	SH		SOLE	0	10,559	0	0
NVR Inc	cs	62944t105	3,688	1,530	SH		SOLE	0	1,530	0	0
Onemain Holdings Inc	cs	68268w103	817	33,215	SH		SOLE	0	33,215	0	0
Paccar Inc	cs	693718108	1,767	26,752	SH		SOLE	0	26,752	0	0
PacWest Bancorp Del	cs	695263103	410	8,784	SH		SOLE	0	8,784	0	0
PepsiCo Inc	cs	713448108	738	6,390	SH		SOLE	0	6,390	0	0
Pfizer Inc	cs	717081103	1,325	39,439	SH		SOLE	0	39,439	0	0
Procter And Gamble Co	cs	742718109	375	4,303	SH		SOLE	0	4,303	0	0
Range Resources Corp	cs	75281a109	1,050	45,311	SH		SOLE	0	45,311	0	0
Regional Mgmt Corp	cs	75902k106	323	13,687	SH		SOLE	0	13,687	0	0
Seacoast Banking Corp FL	cs	811707801	235	9,770	SH		SOLE	0	9,770	0	0
Southwestern Energy Co	cs	845467109	296	48,700	SH		SOLE	0	48,700	0	0
Synovus Financial Corp	cs	87161c501	2,592	58,597	SH		SOLE	0	58,597	0	0
Travelers Companies Inc	cs	89417e109	380	3,000	SH		SOLE	0	3,000	0	0
United Community Banks Blairsv	cs	90984p303	2,118	76,175	SH		SOLE	0	76,175	0	0
United States Steel Corp	cs	912909108	956	43,174	SH		SOLE	0	43,174	0	0
VF Corp	cs	918204108	236	4,099	SH		SOLE	0	4,099	0	0
Visa Inc Cl A	cs	92826c839	234	2,500	SH		SOLE	0	2,500	0	0
Vulcan Materials Co	cs	929160109	760	6,000	SH		SOLE	0	6,000	0	0
Weatherford Intl PLC	cs	g48833100	1,129	291,716	SH		SOLE	0	291,716	0	0
Wells Fargo & Co	cs	949746101	2,461	44,408	SH		SOLE	0	44,408	0	0
Western Alliance Bancorp	cs	957638109	2,004	40,730	SH		SOLE	0	40,730	0	0
Zions Bancorporation	cs	989701107	1,273	28,985	SH		SOLE	0	28,985	0	0
Royal Dutch Shell PLC Sp ADR A	ad	780259206	460	8,650	SH		SOLE	0	8,650	0	0
Royal Dutch Shell PLC Sp ADR B	ad	780259107	205	3,759	SH		SOLE	0	3,759	0	0
Tekla Healthcare Invs	mf	87911j103	427	17,000	SH		SOLE	0	17,000	0	0
Blackstone Group LP	ml	09253u108	293	8,798	SH		SOLE	0	8,798	0	0
Enbridge Energy Partners LP	ml	29250r106	463	28,920	SH		SOLE	0	28,920	0	0
Energy Transfer Partners LP Lt	ml	29278n103	421	20,633	SH		SOLE	0	20,633	0	0
Enterprise Products Partners L	ml	293792107	339	12,535	SH		SOLE	0	12,535	0	0
Golar LNG Partners LP	ml	y2745c102	513	25,556	SH		SOLE	0	25,556	0	0
Martin Midstream Partners LP	ml	573331105	494	28,120	SH		SOLE	0	28,120	0	0
Plains All American Pipeline L	ml	726503105	473	18,020	SH		SOLE	0	18,020	0	0
Annaly Cap Mgmt Inc	re	035710409	134	11,140	SH		SOLE	0	11,140	0	0
Genco Shipping & Trading Ltd W	wt	y2685t123	10	51,185	SH		SOLE	0	51,185	0	0