Oarsman Capital 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
AT&T Inc	COM	00206r102	1,539	43,538	SH		SOLE		42,423	0	1,115
AbbVie Inc.	COM	00287y109	1,370	24,268	SH		SOLE		22,024	0	2,244
Abbott Labs	COM	002824100	700	17,122	SH		SOLE		15,418	0	1,704
Accenture	COM	g1151c101	795	9,840	SH		SOLE		9,285	0	555
Air Products and Chemicals Inc	COM	009158106	239	1,856	SH		SOLE		1,030	0	826
Alliant Energy	COM	018802108	1,776	29,174	SH		SOLE		27,404	0	1,770
Altria Group	COM	02209s103	354	8,442	SH		SOLE		7,742	0	700
Amazon.com	COM	023135106	223	687	SH		SOLE		677	0	10
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	964	8,143	SH		SOLE		7,698	0	445
Anadarko Petroleum	COM	032511107	718	6,556	SH		SOLE		5,616	0	940
Apache Corporation	COM	037411105	904	8,980	SH		SOLE		8,505	0	475
Apple Inc.	COM	037833100	2,711	29,171	SH		SOLE		28,106	0	1,065
Archer-Daniels-Midland Co.	COM	039483102	282	6,400	SH		SOLE		6,400	0	0
BHP Billiton Ltd ADR	COM	088606108	529	7,723	SH		SOLE		6,761	0	962
BP p.l.c.	COM	055622104	575	10,902	SH		SOLE		8,560	0	2,342
Bank of Montreal	COM	063671101	556	7,555	SH		SOLE		6,845	0	710
Berkshire Hathaway cl. A (1/10	COM	084990175	950	500	SH		SOLE		500	0	0
Berkshire Hathaway cl. B	COM	084670702	1,321	10,435	SH		SOLE		10,100	0	335
Brady Corp.	COM	104674106	353	11,832	SH		SOLE		11,832	0	0
Bristol-Myers Squibb	COM	110122108	215	4,425	SH		SOLE		4,425	0	0
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Caterpillar Inc.	COM	149123101	656	6,035	SH		SOLE		5,670	0	365
Chevron Corp.	COM	166764100	1,945	14,900	SH		SOLE		13,853	0	1,047
Cisco Systems Inc.	COM	17275R102	818	32,902	SH		SOLE		31,152	0	1,750
Citigroup Inc.	COM	172967424	439	9,318	SH		SOLE		9,208	0	110
Coca-Cola Co.	COM	191216100	472	11,147	SH		SOLE		8,592	0	2,555
Colgate-Palmolive Co.	COM	194162103	1,570	23,023	SH		SOLE		20,333	0	2,690
Conoco Phillips	COM	20825C104	247	2,876	SH		SOLE		2,026	0	850
DNAPrint Genomics, Inc.	COM	23324q202	0	29,000	SH		SOLE		29,000	0	0
Deere & Co	COM	244199105	1,130	12,480	SH		SOLE		12,020	0	460
Dominion Resources Inc.	COM	25746U109	533	7,447	SH		SOLE		7,107	0	340
Dow Chemical Corp.	COM	260543103	730	14,183	SH		SOLE		14,183	0	0
Du Pont E.I. De Nemour & Co.	COM	263534109	1,055	16,123	SH		SOLE		15,668	0	455
Duff & Phelps Select Income Fu	COM	23325P104	569	54,140	SH		SOLE		51,140	0	3,000
Duke Energy	COM	26441C204	331	4,457	SH		SOLE		4,457	0	0
EMC Corp.	COM	268648102	283	10,745	SH		SOLE		10,390	0	355
Emerson Electric Co.	COM	291011104	921	13,885	SH		SOLE		12,185	0	1,700
Exxon-Mobil	COM	30231G102	1,234	12,260	SH		SOLE		11,960	0	300
Facebook Inc.	COM	30303m102	664	9,871	SH		SOLE		9,211	0	660
Fastenal Co.	COM	311900104	426	8,608	SH		SOLE		7,188	0	1,420
Fiserv Inc.	COM	337738108	2,021	33,506	SH		SOLE		32,256	0	1,250
General Dynamics	COM	369550108	446	3,825	SH		SOLE		3,150	0	675
General Electric Co.	COM	369604103	4,642	176,639	SH		SOLE		172,619	0	4,020
Genuine Parts	COM	372460105	931	10,607	SH		SOLE		9,727	0	880
Gilead Sciences	COM	375558103	1,592	19,205	SH		SOLE		18,665	0	540
Google Inc. Class A	COM	38259p508	1,203	2,057	SH		SOLE		1,649	0	408
Google Inc. Class C Non-Voting	COM	38259p706	1,281	2,226	SH		SOLE		1,718	0	508
Halliburton Co.	COM	406216101	632	8,895	SH		SOLE		8,895	0	0
Hard To Treat Diseases	COM	41164a103	0	100,000	SH		SOLE		100,000	0	0
Harley Davidson	COM	412822108	498	7,124	SH		SOLE		7,124	0	0
Hershey Foods Corp	COM	427866108	202	2,070	SH		SOLE		2,070	0	0
Home Depot Inc.	COM	437076102	231	2,855	SH		SOLE		2,505	0	350
Integrys Energy Group, Inc	COM	45822p105	485	6,824	SH		SOLE		5,674	0	1,150
Intel Corp.	COM	458140100	1,938	62,709	SH		SOLE		59,109	0	3,600
Intl Business Mach. Corp.	COM	459200101	1,554	8,574	SH		SOLE		7,984	0	590
J.P. Morgan Chase & Co.	COM	46625H100	918	15,928	SH		SOLE		14,875	0	1,053
Johnson & Johnson	COM	478160104	3,165	30,255	SH		SOLE		28,075	0	2,180
Johnson Controls	COM	478366107	1,672	33,487	SH		SOLE		30,822	0	2,665
Kimberly-Clark Corp.	COM	494368103	1,952	17,553	SH		SOLE		17,173	0	380
Kohl's Corp.	COM	500255104	1,405	26,661	SH		SOLE		25,166	0	1,495
MGE Energy	COM	55277p104	1,473	37,272	SH		SOLE		37,122	0	150
MGIC Investment Corp.	COM	552848103	664	71,872	SH		SOLE		70,747	0	1,125
McDonald's	COM	580135101	1,003	9,953	SH		SOLE		9,618	0	335
Medtronic Inc	COM	585055106	1,711	26,836	SH		SOLE		24,881	0	1,955
Microsoft Corp.	COM	594918104	2,139	51,299	SH		SOLE		48,844	0	2,455
Minnesota Mining & Manufacturi	COM	88579Y101	346	2,418	SH		SOLE		2,418	0	0
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
Newmont Mining Corp	COM	651639106	247	9,721	SH		SOLE		9,471	0	250
Nokia	COM	654902204	94	12,492	SH		SOLE		12,192	0	300
Nordstrom Inc.	COM	655664100	533	7,841	SH		SOLE		7,096	0	745
Novartis AG	COM	66987v109	1,566	17,295	SH		SOLE		16,410	0	885
Occidental Petroleum	COM	674599105	751	7,315	SH		SOLE		7,315	0	0
Oracle Corp.	COM	68389X105	1,284	31,675	SH		SOLE		29,475	0	2,200
Oshkosh Corp	COM	688239201	386	6,950	SH		SOLE		6,950	0	0
Paychex	COM	704326107	495	11,906	SH		SOLE		11,786	0	120
Pepsico Inc.	COM	713448108	2,248	25,159	SH		SOLE		23,489	0	1,670
Pfizer Inc.	COM	717081103	1,571	52,940	SH		SOLE		51,085	0	1,855
Philip Morris International	COM	718172109	425	5,035	SH		SOLE		4,360	0	675
Praxair	COM	74005P104	852	6,417	SH		SOLE		5,972	0	445
Procter & Gamble Co.	COM	742718109	2,209	28,114	SH		SOLE		25,963	0	2,151
Prudential Financial, Inc.	COM	744320102	1,132	12,750	SH		SOLE		12,260	0	490
Qualcomm Inc.	COM	747525103	1,082	13,665	SH		SOLE		12,565	0	1,100
RPM Inc.	COM	749685103	2,758	59,717	SH		SOLE		55,827	0	3,890
Range Resources	COM	75281a109	1,159	13,325	SH		SOLE		11,025	0	2,300
Regal-Beloit Corp.	COM	758750103	804	10,240	SH		SOLE		9,335	0	905
Ridgestone Finl Svcs Inc	COM	76610v103	0	12,500	SH		SOLE		12,500	0	0
Rockwell Automation	COM	773903109	550	4,398	SH		SOLE		4,398	0	0
Schlumberger Ltd.	COM	806857108	1,233	10,449	SH		SOLE		9,354	0	1,095
Sensient Technologies	COM	81725T100	280	5,030	SH		SOLE		30	0	5,000
Stanley Black & Decker, Inc.	COM	854502101	719	8,188	SH		SOLE		7,953	0	235
Teva Pharmaceutical Ind.	COM	881624209	1,318	25,134	SH		SOLE		24,049	0	1,085
Timberline Resources Corp.	COM	887133106	1	10,000	SH		SOLE		10,000	0	0
U.S. Bancorp	COM	902973304	716	16,517	SH		SOLE		15,507	0	1,010
United Technologies Corp.	COM	913017109	424	3,670	SH		SOLE		3,445	0	225
UnitedHealth Group Inc	COM	91324p102	412	5,045	SH		SOLE		5,005	0	40
VF Corp	COM	918204108	1,446	22,952	SH		SOLE		21,972	0	980
Valero Energy Corp	COM	91913y100	371	7,400	SH		SOLE		7,150	0	250
Verizon	COM	92343V104	1,103	22,550	SH		SOLE		20,915	0	1,635
Wal-Mart Stores Inc.	COM	931142103	682	9,085	SH		SOLE		8,935	0	150
Walgreen Company	COM	931422109	3,453	46,587	SH		SOLE		27,118	0	19,469
Walt Disney Productions	COM	254687106	499	5,821	SH		SOLE		5,821	0	0
Wells Fargo & Co.	COM	949746101	732	13,930	SH		SOLE		12,740	0	1,190
Wisconsin Energy Corp.	COM	976657106	1,219	25,986	SH		SOLE		25,986	0	0
YUM! Brands, Inc.	COM	988498101	225	2,770	SH		SOLE		2,630	0	140
Dow Jones Utility Index (iShar	ETF	464287697	210	1,890	SH		SOLE		1,890	0	0
Madison Covered Call&Equity St	ETF	557437100	1,188	135,127	SH		SOLE		125,377	0	9,750
MidCap SPDRs	ETF	78467y107	476	1,828	SH		SOLE		1,828	0	0
NASDAQ 100 Index Tracker	ETF	73935A104	280	2,983	SH		SOLE		2,983	0	0
S&P 500/Barra Growth (iShares)	ETF	464287309	254	2,414	SH		SOLE		1,854	0	560
S&P 500/Barra Value (iShares)	ETF	464287408	252	2,788	SH		SOLE		2,138	0	650
S&P Dep Receipts	ETF	78462f103	733	3,745	SH		SOLE		3,745	0	0
S&P High Yield Dividend Aristo	ETF	78464a763	280	3,654	SH		SOLE		3,654	0	0
SPDR Dow Jones Industrial Aver	ETF	78467x109	544	3,243	SH		SOLE		3,243	0	0
Schwab U.S. Large-Cap Growth E	ETF	808524300	215	4,422	SH		SOLE		4,282	0	140
Schwab US Dividend Equity ETF	ETF	808524797	268	7,015	SH		SOLE		6,830	0	185
Vanguard High Dividend Yield I	ETF	921946406	1,899	28,632	SH		SOLE		28,632	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	2,333	30,390	SH		SOLE		30,390	0	0
Vanguard Mid Cap ETF	ETF	922908629	812	6,845	SH		SOLE		6,845	0	0
iShares DJ Transp Avg	ETF	464287192	243	1,655	SH		SOLE		1,655	0	0
S&P 600/Barra Growth Index (iS	SMLC	464287887	1,263	10,460	SH		SOLE		9,829	0	631
S&P 600/Barra Value Index (iSh	SMLC	464287879	1,257	10,889	SH		SOLE		10,444	0	445
Vanguard Small Cap ETF	SMLC	922908751	964	8,231	SH		SOLE		8,231	0	0
WisdomTree SmallCap Dividend E	SMLC	97717w604	371	5,298	SH		SOLE		5,298	0	0
China-H FTSE/Xinhua 25 Index (	INTL	464287184	470	12,678	SH		SOLE		11,043	0	1,635
Europe/Australia/Far-East Inde	INTL	464287465	580	8,489	SH		SOLE		6,775	0	1,714
Latin America Index (iShares)	INTL	464287390	318	8,315	SH		SOLE		7,475	0	840
MSCI Emerging Markets Index (i	INTL	464287234	616	14,255	SH		SOLE		12,875	0	1,380
SPDR S&P International Dividen	INTL	78463X772	343	6,680	SH		SOLE		6,430	0	250
Vanguard Emerging Markets Stoc	INTL	922042858	1,153	26,729	SH		SOLE		26,629	0	100
Vanguard MSCI EAFE ETF	INTL	921943858	887	20,826	SH		SOLE		20,826	0	0
Wisdom Tree Japan Hedged Equit	INTL	97717W851	362	7,337	SH		SOLE		7,137	0	200
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	780	13,930	SH		SOLE		13,330	0	600
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	488	9,413	SH		SOLE		8,818	0	595
iShares Dow Jones EPAC Select	INTL	464288448	744	18,652	SH		SOLE		17,957	0	695
iShares MSCI All Country Asia	INTL	464288182	499	7,957	SH		SOLE		7,130	0	827
iShares MSCI EAFE Small Cap In	INTL	464288273	219	4,134	SH		SOLE		4,134	0	0
Alliance Bernstein Income Fund	FIXD	01881e101	127	16,875	SH		SOLE		16,875	0	0
BlackRock Debt Strategies Fund	FIXD	09255r103	42	10,279	SH		SOLE		10,279	0	0
BlackRock Int. Duration Munici	FIXD	09253X102	1,160	79,440	SH		SOLE		75,510	0	3,930
BlackRock MuniAssets Fund	FIXD	09254j102	535	41,731	SH		SOLE		40,731	0	1,000
Calamos Convertible & High Inc	FIXD	12811p108	650	43,935	SH		SOLE		39,635	0	4,300
Eaton Vance Limited Duration I	FIXD	27828H105	620	39,785	SH		SOLE		36,185	0	3,600
Nuveen Insured Municipal Oppor	FIXD	670984103	177	12,545	SH		SOLE		12,545	0	0
Nuveen Municipal Value Fund In	FIXD	670928100	249	25,785	SH		SOLE		25,785	0	0
PIMCO 1-5 Year US TIPS Index E	FIXD	72201r205	473	8,830	SH		SOLE		8,830	0	0
PIMCO Build America Bond ETF	FIXD	72201r825	621	12,065	SH		SOLE		12,065	0	0
PIMCO Corporate Opportunity Fu	FIXD	72201b101	587	31,150	SH		SOLE		29,000	0	2,150
PIMCO Enhanced Short Maturity	FIXD	72201r833	357	3,525	SH		SOLE		3,150	0	375
Putnam Master Intrm Inc Tr	FIXD	746909100	68	13,286	SH		SOLE		13,286	0	0
SPDR Barclays Capital High Yie	FIXD	78464a417	670	16,066	SH		SOLE		16,066	0	0
SPDR Nuveen S&P High Yield Mun	FIXD	78464A284	261	4,645	SH		SOLE		4,588	0	57
SPDR Short Term Municipal Bond	FIXD	78464a425	667	27,405	SH		SOLE		27,405	0	0
iShares Barclays 1-3 Yr Credit	FIXD	464288646	261	2,465	SH		SOLE		2,435	0	30
iShares Barclays Aggregate Bon	FIXD	464287226	1,154	10,544	SH		SOLE		10,544	0	0
iShares Barclays TIPS Bond Fun	FIXD	464287176	906	7,858	SH		SOLE		7,823	0	35
iShares iBoxx Invest Grade Cor	FIXD	464287242	1,985	16,648	SH		SOLE		16,463	0	185
Gold Shares SPDR	CMDT	78463v107	640	4,995	SH		SOLE		4,685	0	310
iPath Dow Jones-AIG Commodity	CMDT	06738C778	585	14,823	SH		SOLE		14,823	0	0
iShares Gold Trust	CMDT	464285105	159	12,379	SH		SOLE		10,914	0	1,465
Claymore/Clear Global Timber I	REAL	18383q879	228	9,057	SH		SOLE		7,657	0	1,400
Cohen & Steers Global Realty M	REAL	00162q106	224	5,222	SH		SOLE		5,222	0	0
Columbia Property Trust, Inc.	REAL	198287203	213	8,177	SH		SOLE		8,177	0	0
Mortgage REIT Index	REAL	464288539	212	16,738	SH		SOLE		16,288	0	450
Plum Creek Timber	REAL	729251108	223	4,955	SH		SOLE		4,775	0	180
SPDR Dow Jones Global Real Est	REAL	78463x749	680	14,568	SH		SOLE		14,568	0	0
iShares S&P Global Timber & Fo	REAL	464288174	223	4,225	SH		SOLE		3,725	0	500
Calamos Market Neutral Income	HEDG	128119203	622	47,396	SH		SOLE		47,396	0	0
DWS RREEF Global Infrastructur	HEDG	233379692	359	23,515	SH		SOLE		23,301	0	215
Goldman Sachs Satellite Strate	HEDG	38143H357	420	48,802	SH		SOLE		47,865	0	937