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
Abbott Laboratories	cs	002824100	783	6,627	SH		SOLE		6,627	0	0
AbbVie Inc	cs	00287y109	2,333	21,627	SH		SOLE		21,627	0	0
Adobe Inc	cs	00724f101	967	1,680	SH		SOLE		1,680	0	0
Alphabet Inc Cap Stock Cl A	cs	02079k305	233	87	SH		SOLE		87	0	0
Alphabet Inc Cap Stock Cl C	cs	02079k107	2,175	816	SH		SOLE		816	0	0
Amazon.com Inc	cs	023135106	286	87	SH		SOLE		87	0	0
American Express Co	cs	025816109	810	4,837	SH		SOLE		4,837	0	0
Analog Devices Inc	cs	032654105	248	1,480	SH		SOLE		1,480	0	0
Apellis Pharmaceuticals Inc	cs	03753u106	215	6,513	SH		SOLE		6,513	0	0
Apple Inc	cs	037833100	1,259	8,896	SH		SOLE		8,896	0	0
Banc Of California Inc	cs	05990k106	1,633	88,325	SH		SOLE		88,325	0	0
Bancorp Inc	cs	05969a105	4,579	179,910	SH		SOLE		179,910	0	0
Bank America Corp	cs	060505104	1,070	25,208	SH		SOLE		25,208	0	0
Banner Corp	cs	06652v208	717	12,979	SH		SOLE		12,979	0	0
Berkshire Hathaway Inc Cl B	cs	084670702	1,937	7,095	SH		SOLE		7,095	0	0
Blackstone Group Inc Cl A	cs	09260d107	950	8,170	SH		SOLE		8,170	0	0
Boeing Co	cs	097023105	894	4,065	SH		SOLE		4,065	0	0
Booking Holdings Inc	cs	09857l108	847	357	SH		SOLE		357	0	0
Bristol-Myers Squibb Co	cs	110122108	1,917	32,405	SH		SOLE		32,405	0	0
Brown Forman Corp Cl A	cs	115637100	691	11,030	SH		SOLE		11,030	0	0
Brown Forman Corp Cl B	cs	115637209	1,000	14,920	SH		SOLE		14,920	0	0
Cambridge Bancorp	cs	132152109	1,726	19,618	SH		SOLE		19,618	0	0
Caterpillar Inc	cs	149123101	538	2,800	SH		SOLE		2,800	0	0
Central Securities Corp	cs	155123102	1,014	24,000	SH		SOLE		24,000	0	0
CF Industries Holdings Inc	cs	125269100	2,165	38,787	SH		SOLE		38,787	0	0
Chevron Corp	cs	166764100	2,734	26,950	SH		SOLE		26,950	0	0
Chubb Limited	cs	h1467j104	676	3,895	SH		SOLE		3,895	0	0
Cimarex Energy Co	cs	171798101	2,326	26,680	SH		SOLE		26,680	0	0
Cincinnati Financial Corp	cs	172062101	358	3,130	SH		SOLE		3,130	0	0
Cisco Systems Inc	cs	17275r102	1,762	32,367	SH		SOLE		32,367	0	0
Citigroup Inc	cs	172967424	582	8,289	SH		SOLE		8,289	0	0
Coca-Cola Co	cs	191216100	300	5,722	SH		SOLE		5,722	0	0
Colgate Palmolive Co	cs	194162103	612	8,100	SH		SOLE		8,100	0	0
ConocoPhillips	cs	20825c104	2,194	32,376	SH		SOLE		32,376	0	0
Curo Group Holdings Corp	cs	23131l107	374	21,555	SH		SOLE		21,555	0	0
CVS Health Corp	cs	126650100	1,459	17,189	SH		SOLE		17,189	0	0
Danaher Corp	cs	235851102	304	998	SH		SOLE		998	0	0
Deere & Co	cs	244199105	868	2,590	SH		SOLE		2,590	0	0
Diamondback Energy Inc	cs	25278x109	2,120	22,397	SH		SOLE		22,397	0	0
Disney Walt Co Disney	cs	254687106	1,776	10,496	SH		SOLE		10,496	0	0
Eagle Bulk Shipping Inc Com	cs	y2187a150	461	9,137	SH		SOLE		9,137	0	0
Emerson Electric Co	cs	291011104	245	2,600	SH		SOLE		2,600	0	0
Enbridge Inc	cs	29250n105	596	14,970	SH		SOLE		14,970	0	0
EOG Resources Inc	cs	26875p101	1,727	21,510	SH		SOLE		21,510	0	0
Expedia Inc	cs	30212p303	818	4,992	SH		SOLE		4,992	0	0
Exxon Mobil Corp	cs	30231g102	879	14,943	SH		SOLE		14,943	0	0
First Acceptance Corp	cs	318457108	57	25,800	SH		SOLE		25,800	0	0
Frp Holdings Inc	cs	30292l107	604	10,800	SH		SOLE		10,800	0	0
General Dynamics Corp	cs	369550108	608	3,101	SH		SOLE		3,101	0	0
General Electric Co Com New	cs	369604301	1,812	17,589	SH		SOLE		17,589	0	0
General Mills Inc	cs	370334104	1,038	17,345	SH		SOLE		17,345	0	0
General Motors Co	cs	37045v100	1,465	27,796	SH		SOLE		27,796	0	0
Gilead Sciences Inc	cs	375558103	1,382	19,783	SH		SOLE		19,783	0	0
Hershey Co	cs	427866108	322	1,900	SH		SOLE		1,900	0	0
Home Depot Inc	cs	437076102	553	1,685	SH		SOLE		1,685	0	0
Honeywell Intl Inc	cs	438516106	1,626	7,661	SH		SOLE		7,661	0	0
Illinois Tool Works Inc	cs	452308109	201	975	SH		SOLE		975	0	0
Intel Corp	cs	458140100	970	18,213	SH		SOLE		18,213	0	0
Johnson & Johnson	cs	478160104	909	5,626	SH		SOLE		5,626	0	0
JPMorgan Chase & Co	cs	46625h100	1,181	7,215	SH		SOLE		7,215	0	0
Kellogg Co	cs	487836108	202	3,160	SH		SOLE		3,160	0	0
Kinder Morgan Inc	cs	49456b101	618	36,950	SH		SOLE		36,950	0	0
Lennar Corp Cl A	cs	526057104	1,841	19,653	SH		SOLE		19,653	0	0
Lilly Eli & Co	cs	532457108	1,307	5,656	SH		SOLE		5,656	0	0
Lockheed Martin Corp	cs	539830109	951	2,755	SH		SOLE		2,755	0	0
Merck & Co Inc	cs	58933y105	1,787	23,787	SH		SOLE		23,787	0	0
Meta Financial Group Inc	cs	59100u108	901	17,163	SH		SOLE		17,163	0	0
MGM Resorts International	cs	552953101	1,217	28,210	SH		SOLE		28,210	0	0
Microsoft Corp	cs	594918104	415	1,471	SH		SOLE		1,471	0	0
Morgan Stanley	cs	617446448	612	6,290	SH		SOLE		6,290	0	0
Nabors Industries Ltd Shs	cs	g6359f137	303	3,143	SH		SOLE		3,143	0	0
Ncino Inc	cs	63947u107	417	5,873	SH		SOLE		5,873	0	0
NVR Inc	cs	62944t105	2,814	587	SH		SOLE		587	0	0
Onemain Holdings Inc	cs	68268w103	1,077	19,465	SH		SOLE		19,465	0	0
Oracle Corp	cs	68389x105	801	9,195	SH		SOLE		9,195	0	0
Organon & Co Common Stock	cs	68622v106	230	7,022	SH		SOLE		7,022	0	0
PacWest Bancorp Del	cs	695263103	1,809	39,914	SH		SOLE		39,914	0	0
PepsiCo Inc	cs	713448108	611	4,060	SH		SOLE		4,060	0	0
Pfizer Inc	cs	717081103	2,072	48,174	SH		SOLE		48,174	0	0
Pioneer Natural Resources Co	cs	723787107	2,291	13,760	SH		SOLE		13,760	0	0
Procter And Gamble Co	cs	742718109	256	1,830	SH		SOLE		1,830	0	0
Raytheon Technologies Corp	cs	75513e101	1,082	12,592	SH		SOLE		12,592	0	0
Seacoast Banking Corp FL	cs	811707801	231	6,840	SH		SOLE		6,840	0	0
SM Energy Co	cs	78454l100	880	33,350	SH		SOLE		33,350	0	0
Star Bulk Carriers Corp Par	cs	y8162k204	531	22,105	SH		SOLE		22,105	0	0
Synovus Financial Corp	cs	87161c501	552	12,575	SH		SOLE		12,575	0	0
Tesla Inc	cs	88160r101	323	416	SH		SOLE		416	0	0
Textron Inc	cs	883203101	237	3,400	SH		SOLE		3,400	0	0
Travelers Companies Inc	cs	89417e109	228	1,500	SH		SOLE		1,500	0	0
TriState Capital Holdings Inc	cs	89678f100	1,591	75,206	SH		SOLE		75,206	0	0
Triton Intl Ltd Cl A	cs	g9078f107	1,856	35,666	SH		SOLE		35,666	0	0
Triumph Bancorp Inc	cs	89679e300	689	6,877	SH		SOLE		6,877	0	0
Union Pacific Corp	cs	907818108	240	1,225	SH		SOLE		1,225	0	0
United Community Banks Blairsv	cs	90984p303	383	11,675	SH		SOLE		11,675	0	0
VF Corp	cs	918204108	259	3,870	SH		SOLE		3,870	0	0
Viatris Inc	cs	92556v106	1,397	103,069	SH		SOLE		103,069	0	0
Visa Inc Cl A	cs	92826c839	351	1,575	SH		SOLE		1,575	0	0
Vulcan Materials Co	cs	929160109	927	5,480	SH		SOLE		5,480	0	0
W&T Offshore Inc	cs	92922p106	49	13,200	SH		SOLE		13,200	0	0
Wells Fargo & Co	cs	949746101	767	16,536	SH		SOLE		16,536	0	0
Western Alliance Bancorp	cs	957638109	2,681	24,635	SH		SOLE		24,635	0	0
Westrock Co	cs	96145d105	2,281	45,779	SH		SOLE		45,779	0	0
Zions Bancorporation	cs	989701107	340	5,500	SH		SOLE		5,500	0	0
Takeda Pharmaceutical Co Ltd S	ad	874060205	710	43,320	SH		SOLE		43,320	0	0
Fidelity Tr 500 Index Ins Prem	mf	315911750	2,524	16,834	SH		SOLE		16,834	0	0
Tekla Healthcare Invs	mf	87911j103	372	14,560	SH		SOLE		14,560	0	0
Enterprise Products Partners L	ml	293792107	380	17,580	SH		SOLE		17,580	0	0
Plains All American Pipeline L	ml	726503105	307	30,175	SH		SOLE		30,175	0	0
Annaly Cap Mgmt Inc	re	035710409	301	35,756	SH		SOLE		35,756	0	0
Iron Mountain Inc	re	46284v101	1,563	35,962	SH		SOLE		35,962	0	0
Physicians Realty Trust	re	71943u104	703	39,875	SH		SOLE		39,875	0	0
Weyerhaeuser Co	re	962166104	1,268	35,637	SH		SOLE		35,637	0	0