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	1,361	41,685	SH		SOLE		40,720	0	965
AbbVie Inc.	COM	00287y109	1,440	24,595	SH		SOLE		22,391	0	2,204
Abbott Labs	COM	002824100	816	17,613	SH		SOLE		15,909	0	1,704
Accenture	COM	g1151c101	867	9,255	SH		SOLE		8,700	0	555
Air Products and Chemicals Inc	COM	009158106	279	1,841	SH		SOLE		1,015	0	826
Alliant Energy	COM	018802108	1,777	28,214	SH		SOLE		27,009	0	1,205
Altria Group	COM	02209s103	371	7,415	SH		SOLE		7,415	0	0
Amazon.com	COM	023135106	253	680	SH		SOLE		670	0	10
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	1,220	7,633	SH		SOLE		7,208	0	425
Anadarko Petroleum	COM	032511107	480	5,796	SH		SOLE		5,256	0	540
Apache Corporation	COM	037411105	436	7,232	SH		SOLE		6,882	0	350
Apple Inc.	COM	037833100	3,464	27,836	SH		SOLE		27,002	0	834
Archer-Daniels-Midland Co.	COM	039483102	265	5,600	SH		SOLE		5,600	0	0
BHP Billiton Ltd ADR	COM	088606108	283	6,096	SH		SOLE		5,371	0	725
BP p.l.c.	COM	055622104	424	10,832	SH		SOLE		8,490	0	2,342
Bank of Montreal	COM	063671101	489	8,153	SH		SOLE		7,393	0	760
Berkshire Hathaway cl. A (1/10	COM	084990175	1,087	500	SH		SOLE		500	0	0
Berkshire Hathaway cl. B	COM	084670702	1,488	10,313	SH		SOLE		10,028	0	285
Brady Corp.	COM	104674106	308	10,886	SH		SOLE		10,886	0	0
Bristol-Myers Squibb	COM	110122108	285	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	504	6,300	SH		SOLE		5,935	0	365
Chevron Corp.	COM	166764100	1,664	15,850	SH		SOLE		14,783	0	1,067
Cigna Corp.	COM	125509109	259	2,000	SH		SOLE		2,000	0	0
Cisco Systems Inc.	COM	17275R102	852	30,936	SH		SOLE		29,586	0	1,350
Citigroup Inc.	COM	172967424	447	8,670	SH		SOLE		8,620	0	50
Coca-Cola Co.	COM	191216100	436	10,747	SH		SOLE		8,192	0	2,555
Colgate-Palmolive Co.	COM	194162103	1,594	22,984	SH		SOLE		20,769	0	2,215
DNAPrint Genomics, Inc.	COM	23324q202	0	29,000	SH		SOLE		29,000	0	0
Deere & Co	COM	244199105	1,072	12,227	SH		SOLE		11,892	0	335
Dominion Resources Inc.	COM	25746U109	526	7,417	SH		SOLE		7,077	0	340
Dow Chemical Corp.	COM	260543103	638	13,289	SH		SOLE		13,289	0	0
Du Pont E.I. De Nemour & Co.	COM	263534109	1,145	16,020	SH		SOLE		15,590	0	430
Duff & Phelps Select Income Fu	COM	23325P104	378	36,036	SH		SOLE		33,661	0	2,375
Duke Energy	COM	26441C204	354	4,607	SH		SOLE		4,607	0	0
EMC Corp.	COM	268648102	276	10,807	SH		SOLE		10,332	0	475
Emerson Electric Co.	COM	291011104	766	13,536	SH		SOLE		11,836	0	1,700
Exxon-Mobil	COM	30231G102	1,093	12,855	SH		SOLE		12,520	0	335
Facebook Inc.	COM	30303m102	860	10,456	SH		SOLE		9,796	0	660
Fastenal Co.	COM	311900104	348	8,408	SH		SOLE		7,388	0	1,020
Fiserv Inc.	COM	337738108	2,596	32,691	SH		SOLE		31,531	0	1,160
General Dynamics	COM	369550108	483	3,560	SH		SOLE		3,060	0	500
General Electric Co.	COM	369604103	4,171	168,112	SH		SOLE		164,717	0	3,395
Genuine Parts	COM	372460105	930	9,977	SH		SOLE		9,322	0	655
Gilead Sciences	COM	375558103	2,070	21,098	SH		SOLE		20,558	0	540
Google Inc. Class A	COM	38259p508	983	1,772	SH		SOLE		1,402	0	370
Google Inc. Class C Non-Voting	COM	38259p706	1,362	2,486	SH		SOLE		2,013	0	473
Halliburton Co.	COM	406216101	527	12,021	SH		SOLE		11,946	0	75
Hard To Treat Diseases	COM	41164a103	0	100,000	SH		SOLE		100,000	0	0
Harley Davidson	COM	412822108	383	6,304	SH		SOLE		6,304	0	0
Hershey Foods Corp	COM	427866108	209	2,070	SH		SOLE		2,070	0	0
Home Depot Inc.	COM	437076102	473	4,160	SH		SOLE		4,160	0	0
Integrys Energy Group, Inc	COM	45822p105	365	5,074	SH		SOLE		4,224	0	850
Intel Corp.	COM	458140100	1,881	60,150	SH		SOLE		56,900	0	3,250
Intl Business Mach. Corp.	COM	459200101	1,102	6,868	SH		SOLE		6,393	0	475
J.P. Morgan Chase & Co.	COM	46625H100	944	15,590	SH		SOLE		14,637	0	953
Johnson & Johnson	COM	478160104	3,107	30,888	SH		SOLE		28,758	0	2,130
Johnson Controls	COM	478366107	1,624	32,202	SH		SOLE		30,082	0	2,120
Kimberly-Clark Corp.	COM	494368103	1,867	17,435	SH		SOLE		17,080	0	355
Kohl's Corp.	COM	500255104	1,983	25,348	SH		SOLE		24,253	0	1,095
Lockheed Martin Corp.	COM	539830109	203	999	SH		SOLE		999	0	0
MGE Energy	COM	55277p104	1,658	37,410	SH		SOLE		37,260	0	150
MGIC Investment Corp.	COM	552848103	814	84,522	SH		SOLE		82,347	0	2,175
McDonald's	COM	580135101	1,037	10,642	SH		SOLE		10,307	0	335
Medtronic plc	COM	g5960l103	2,001	25,655	SH		SOLE		24,090	0	1,565
Microsoft Corp.	COM	594918104	2,053	50,499	SH		SOLE		48,094	0	2,405
Minnesota Mining & Manufacturi	COM	88579Y101	377	2,286	SH		SOLE		2,286	0	0
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
Newmont Mining Corp	COM	651639106	212	9,744	SH		SOLE		9,494	0	250
Nordstrom Inc.	COM	655664100	616	7,666	SH		SOLE		6,921	0	745
Novartis AG	COM	66987v109	1,685	17,090	SH		SOLE		16,245	0	845
Occidental Petroleum	COM	674599105	519	7,115	SH		SOLE		7,115	0	0
Oracle Corp.	COM	68389X105	1,404	32,536	SH		SOLE		30,536	0	2,000
Oshkosh Corp	COM	688239201	281	5,750	SH		SOLE		5,750	0	0
Paychex	COM	704326107	595	12,001	SH		SOLE		11,881	0	120
Pepsico Inc.	COM	713448108	2,425	25,364	SH		SOLE		24,144	0	1,220
Pfizer Inc.	COM	717081103	1,751	50,343	SH		SOLE		49,088	0	1,255
Philip Morris International	COM	718172109	355	4,710	SH		SOLE		4,535	0	175
Praxair	COM	74005P104	755	6,252	SH		SOLE		5,832	0	420
Procter & Gamble Co.	COM	742718109	2,346	28,633	SH		SOLE		26,642	0	1,991
Prudential Financial, Inc.	COM	744320102	1,218	15,160	SH		SOLE		14,670	0	490
Qualcomm Inc.	COM	747525103	1,051	15,150	SH		SOLE		14,200	0	950
RPM Inc.	COM	749685103	2,624	54,672	SH		SOLE		51,782	0	2,890
Range Resources	COM	75281a109	531	10,205	SH		SOLE		9,660	0	545
Regal-Beloit Corp.	COM	758750103	854	10,691	SH		SOLE		9,811	0	880
Ridgestone Finl Svcs Inc	COM	76610v103	173	12,500	SH		SOLE		12,500	0	0
Rockwell Automation	COM	773903109	470	4,048	SH		SOLE		4,048	0	0
Schlumberger Ltd.	COM	806857108	923	11,057	SH		SOLE		9,847	0	1,210
Sensient Technologies	COM	81725T100	346	5,030	SH		SOLE		30	0	5,000
Stanley Black & Decker, Inc.	COM	854502101	901	9,450	SH		SOLE		9,215	0	235
Teva Pharmaceutical Ind.	COM	881624209	1,594	25,579	SH		SOLE		24,494	0	1,085
U.S. Bancorp	COM	902973304	733	16,787	SH		SOLE		15,777	0	1,010
United Technologies Corp.	COM	913017109	426	3,635	SH		SOLE		3,410	0	225
UnitedHealth Group Inc	COM	91324p102	763	6,452	SH		SOLE		6,412	0	40
VF Corp	COM	918204108	1,741	23,112	SH		SOLE		22,282	0	830
Valero Energy Corp	COM	91913y100	450	7,080	SH		SOLE		6,905	0	175
Vectren Corp.	COM	92240G101	204	4,624	SH		SOLE		0	0	4,624
Verizon	COM	92343V104	1,482	30,478	SH		SOLE		28,718	0	1,760
Wal-Mart Stores Inc.	COM	931142103	784	9,530	SH		SOLE		9,080	0	450
Walgreens Boots Alliance	COM	931427108	3,858	45,563	SH		SOLE		26,589	0	18,974
Walt Disney Productions	COM	254687106	590	5,621	SH		SOLE		5,621	0	0
Wells Fargo & Co.	COM	949746101	1,001	18,392	SH		SOLE		17,202	0	1,190
Wisconsin Energy Corp.	COM	976657106	1,318	26,626	SH		SOLE		26,626	0	0
YUM! Brands, Inc.	COM	988498101	330	4,190	SH		SOLE		3,900	0	290
Dow Jones Utility Index (iShar	ETF	464287697	200	1,790	SH		SOLE		1,790	0	0
Madison Covered Call&Equity St	ETF	557437100	774	94,220	SH		SOLE		86,620	0	7,600
MidCap SPDRs	ETF	78467y107	440	1,588	SH		SOLE		1,588	0	0
Rydex S&P 500 Pure Growth ETF	ETF	78355w403	227	2,736	SH		SOLE		2,703	0	33
S&P 500/Barra Growth (iShares)	ETF	464287309	235	2,059	SH		SOLE		1,499	0	560
S&P 500/Barra Value (iShares)	ETF	464287408	262	2,828	SH		SOLE		2,153	0	675
S&P Dep Receipts	ETF	78462f103	672	3,254	SH		SOLE		3,254	0	0
S&P High Yield Dividend Aristo	ETF	78464a763	225	2,873	SH		SOLE		2,873	0	0
SPDR Dow Jones Industrial Aver	ETF	78467x109	516	2,903	SH		SOLE		2,903	0	0
Schwab U.S. Large-Cap Growth E	ETF	808524300	273	5,069	SH		SOLE		4,809	0	260
Schwab U.S. Mid Cap ETF	ETF	808524508	255	5,915	SH		SOLE		5,773	0	142
Schwab US Dividend Equity ETF	ETF	808524797	440	11,166	SH		SOLE		10,800	0	366
Vanguard High Dividend Yield I	ETF	921946406	2,167	31,732	SH		SOLE		31,732	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	2,666	31,985	SH		SOLE		31,985	0	0
Vanguard Mid Cap ETF	ETF	922908629	1,007	7,589	SH		SOLE		7,589	0	0
iShares DJ Transp Avg	ETF	464287192	251	1,605	SH		SOLE		1,605	0	0
S&P 600/Barra Growth Index (iS	SMLC	464287887	1,385	10,638	SH		SOLE		10,032	0	606
S&P 600/Barra Value Index (iSh	SMLC	464287879	1,303	10,954	SH		SOLE		10,509	0	445
Schwab U.S. Small-Cap ETF	SMLC	808524607	208	3,615	SH		SOLE		3,520	0	95
Vanguard Small Cap ETF	SMLC	922908751	1,216	9,919	SH		SOLE		9,919	0	0
WisdomTree SmallCap Dividend E	SMLC	97717w604	403	5,590	SH		SOLE		5,590	0	0
China-H FTSE/Xinhua 25 Index (	INTL	464287184	511	11,513	SH		SOLE		10,288	0	1,225
Europe/Australia/Far-East Inde	INTL	464287465	693	10,805	SH		SOLE		9,341	0	1,464
Latin America Index (iShares)	INTL	464287390	206	7,005	SH		SOLE		6,315	0	690
MSCI Emerging Markets Index (i	INTL	464287234	561	13,980	SH		SOLE		12,600	0	1,380
SPDR S&P International Dividen	INTL	78463X772	273	6,513	SH		SOLE		6,263	0	250
Schwab International Equity ET	INTL	808524805	221	7,318	SH		SOLE		6,864	0	454
Vanguard Emerging Markets Stoc	INTL	922042858	1,529	37,403	SH		SOLE		37,303	0	100
Vanguard FTSE Developed Market	INTL	921943858	1,646	41,321	SH		SOLE		40,971	0	350
Wisdom Tree Japan Hedged Equit	INTL	97717W851	409	7,429	SH		SOLE		7,229	0	200
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	869	16,779	SH		SOLE		16,429	0	350
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	316	7,424	SH		SOLE		7,079	0	345
iShares Dow Jones EPAC Select	INTL	464288448	632	18,797	SH		SOLE		17,702	0	1,095
iShares MSCI All Country Asia	INTL	464288182	502	7,847	SH		SOLE		7,170	0	677
iShares MSCI EAFE Small Cap In	INTL	464288273	258	5,215	SH		SOLE		5,215	0	0
Alliance Bernstein Income Fund	FIXD	01881e101	90	11,708	SH		SOLE		11,708	0	0
BlackRock Debt Strategies Fund	FIXD	09255r103	38	10,279	SH		SOLE		10,279	0	0
BlackRock Int. Duration Munici	FIXD	09253X102	1,144	77,890	SH		SOLE		74,710	0	3,180
BlackRock MuniAssets Fund	FIXD	09254j102	598	42,530	SH		SOLE		41,530	0	1,000
Calamos Convertible & High Inc	FIXD	12811p108	438	30,905	SH		SOLE		27,005	0	3,900
Eaton Vance Limited Duration I	FIXD	27828H105	575	39,985	SH		SOLE		36,385	0	3,600
Nuveen Municipal Value Fund In	FIXD	670928100	238	24,050	SH		SOLE		24,050	0	0
PIMCO 1-5 Year US TIPS Index E	FIXD	72201r205	560	10,797	SH		SOLE		10,780	0	17
PIMCO Corporate Opportunity Fu	FIXD	72201b101	460	29,200	SH		SOLE		26,850	0	2,350
PIMCO Enhanced Short Maturity	FIXD	72201r833	539	5,325	SH		SOLE		4,950	0	375
PowerShares CEF Income Composi	FIXD	73936q843	402	16,852	SH		SOLE		15,877	0	975
Putnam Master Intrm Inc Tr	FIXD	746909100	65	13,338	SH		SOLE		13,338	0	0
SPDR Barclays Capital High Yie	FIXD	78464a417	615	15,674	SH		SOLE		15,674	0	0
SPDR Nuveen Barclays Cap Build	FIXD	78464a276	545	8,509	SH		SOLE		8,199	0	310
SPDR Nuveen S&P High Yield Mun	FIXD	78464A284	313	5,432	SH		SOLE		5,232	0	200
SPDR Short Term Municipal Bond	FIXD	78464a425	1,027	42,245	SH		SOLE		42,245	0	0
Schwab Intermediate-Term U.S.	FIXD	808524854	250	4,590	SH		SOLE		4,350	0	240
iShares 3-7 Year Treasury Bond	FIXD	464288661	700	5,636	SH		SOLE		5,636	0	0
iShares Barclays 1-3 Yr Credit	FIXD	464288646	233	2,211	SH		SOLE		2,181	0	30
iShares Barclays Aggregate Bon	FIXD	464287226	1,261	11,320	SH		SOLE		11,320	0	0
iShares Barclays TIPS Bond Fun	FIXD	464287176	854	7,522	SH		SOLE		7,487	0	35
iShares iBoxx Invest Grade Cor	FIXD	464287242	1,976	16,233	SH		SOLE		16,048	0	185
Gold Shares SPDR	CMDT	78463v107	551	4,845	SH		SOLE		4,535	0	310
iPath Dow Jones-AIG Commodity	CMDT	06738C778	639	23,038	SH		SOLE		23,038	0	0
iShares Gold Trust	CMDT	464285105	140	12,229	SH		SOLE		10,764	0	1,465
Claymore/Clear Global Timber I	REAL	18383q879	232	9,057	SH		SOLE		7,657	0	1,400
Cohen & Steers Global Realty M	REAL	00162q106	214	4,728	SH		SOLE		4,728	0	0
Columbia Property Trust, Inc.	REAL	198287203	206	7,624	SH		SOLE		7,624	0	0
DJ Wilshire Int'l Real Estate	REAL	78463x863	225	5,198	SH		SOLE		4,478	0	720
Mortgage REIT Index	REAL	464288539	178	15,244	SH		SOLE		14,794	0	450
SPDR Dow Jones Global Real Est	REAL	78463x749	871	17,525	SH		SOLE		17,507	0	18
iShares S&P Global Timber & Fo	REAL	464288174	254	4,650	SH		SOLE		4,150	0	500
Calamos Market Neutral Income	HEDG	128119203	701	53,928	SH		SOLE		53,928	0	0
DWS RREEF Global Infrastructur	HEDG	25156a809	461	31,379	SH		SOLE		31,153	0	226
Goldman Sachs Satellite Strate	HEDG	38143H357	337	42,009	SH		SOLE		41,126	0	883