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	1,544	43,455	SH		SOLE		42,790	0	665
AbbVie Inc.	COM	00287y109	1,684	25,064	SH		SOLE		22,860	0	2,204
Abbott Labs	COM	002824100	812	16,545	SH		SOLE		15,031	0	1,514
Accenture	COM	g1151c101	886	9,155	SH		SOLE		8,630	0	525
Air Products and Chemicals Inc	COM	009158106	245	1,790	SH		SOLE		964	0	826
Alliant Energy	COM	018802108	1,640	28,409	SH		SOLE		27,204	0	1,205
Altria Group	COM	02209s103	363	7,429	SH		SOLE		7,429	0	0
Amazon.com	COM	023135106	273	630	SH		SOLE		620	0	10
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	1,178	7,673	SH		SOLE		7,248	0	425
Anadarko Petroleum	COM	032511107	429	5,496	SH		SOLE		4,956	0	540
Apache Corporation	COM	037411105	427	7,412	SH		SOLE		7,062	0	350
Apple Inc.	COM	037833100	3,425	27,309	SH		SOLE		26,475	0	834
Archer-Daniels-Midland Co.	COM	039483102	260	5,400	SH		SOLE		5,400	0	0
BHP Billiton Ltd ADR	COM	088606108	267	6,566	SH		SOLE		5,841	0	725
BP p.l.c.	COM	055622104	468	11,722	SH		SOLE		9,380	0	2,342
Bank of Montreal	COM	063671101	483	8,150	SH		SOLE		7,390	0	760
Berkshire Hathaway cl. A (1/10	COM	084990175	1,024	500	SH		SOLE		500	0	0
Berkshire Hathaway cl. B	COM	084670702	1,400	10,288	SH		SOLE		10,003	0	285
Brady Corp.	COM	104674106	252	10,188	SH		SOLE		10,188	0	0
Bristol-Myers Squibb	COM	110122108	286	4,300	SH		SOLE		4,300	0	0
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Caterpillar Inc.	COM	149123101	530	6,250	SH		SOLE		5,885	0	365
Certified Diabetic Services In	COM	157012105	0	24,500	SH		SOLE		0	0	24,500
Chevron Corp.	COM	166764100	1,555	16,118	SH		SOLE		14,726	0	1,392
Cigna Corp.	COM	125509109	340	2,099	SH		SOLE		2,099	0	0
Cisco Systems Inc.	COM	17275R102	869	31,638	SH		SOLE		30,288	0	1,350
Citigroup Inc.	COM	172967424	478	8,650	SH		SOLE		8,600	0	50
Coca-Cola Co.	COM	191216100	395	10,080	SH		SOLE		7,525	0	2,555
Colgate-Palmolive Co.	COM	194162103	1,503	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	400	4,119	SH		SOLE		3,784	0	335
Dominion Resources Inc.	COM	25746U109	497	7,427	SH		SOLE		7,087	0	340
Dow Chemical Corp.	COM	260543103	665	12,990	SH		SOLE		12,990	0	0
Du Pont E.I. De Nemour & Co.	COM	263534109	1,010	15,788	SH		SOLE		15,358	0	430
Duff & Phelps Select Income Fu	COM	23325P104	357	35,359	SH		SOLE		32,984	0	2,375
Duke Energy	COM	26441C204	347	4,907	SH		SOLE		4,907	0	0
EMC Corp.	COM	268648102	267	10,107	SH		SOLE		9,632	0	475
Emerson Electric Co.	COM	291011104	709	12,786	SH		SOLE		11,136	0	1,650
Enerplus Corporation	COM	292766102	270	30,740	SH		SOLE		3,800	0	26,940
Exxon-Mobil	COM	30231G102	1,182	14,210	SH		SOLE		13,875	0	335
Facebook Inc.	COM	30303m102	919	10,716	SH		SOLE		10,056	0	660
Fastenal Co.	COM	311900104	357	8,458	SH		SOLE		7,438	0	1,020
Fiserv Inc.	COM	337738108	2,672	32,254	SH		SOLE		31,144	0	1,110
Fortuna Silver Mines Inc.	COM	349915108	139	38,000	SH		SOLE		0	0	38,000
Generac Holdings, Inc.	COM	368736104	449	11,290	SH		SOLE		10,765	0	525
General Dynamics	COM	369550108	494	3,485	SH		SOLE		2,985	0	500
General Electric Co.	COM	369604103	3,699	139,225	SH		SOLE		136,280	0	2,945
Genuine Parts	COM	372460105	861	9,614	SH		SOLE		8,959	0	655
Gilead Sciences	COM	375558103	2,469	21,089	SH		SOLE		20,549	0	540
Golden Star Resources, Ltd.	COM	38119t104	20	58,850	SH		SOLE		1,500	0	57,350
Google Inc. Class A	COM	38259p508	966	1,789	SH		SOLE		1,426	0	363
Google Inc. Class C Non-Voting	COM	38259p706	1,309	2,515	SH		SOLE		2,042	0	473
Halliburton Co.	COM	406216101	526	12,222	SH		SOLE		12,147	0	75
Hard To Treat Diseases	COM	41164a103	0	100,000	SH		SOLE		100,000	0	0
Harley Davidson	COM	412822108	344	6,109	SH		SOLE		6,109	0	0
Home Depot Inc.	COM	437076102	472	4,247	SH		SOLE		4,247	0	0
Intel Corp.	COM	458140100	1,787	58,741	SH		SOLE		55,641	0	3,100
Intl Business Mach. Corp.	COM	459200101	1,116	6,864	SH		SOLE		6,339	0	525
J.P. Morgan Chase & Co.	COM	46625H100	1,129	16,660	SH		SOLE		15,707	0	953
Johnson & Johnson	COM	478160104	3,030	31,086	SH		SOLE		28,956	0	2,130
Johnson Controls	COM	478366107	1,661	33,527	SH		SOLE		31,407	0	2,120
Kimberly-Clark Corp.	COM	494368103	1,861	17,560	SH		SOLE		17,205	0	355
Kohl's Corp.	COM	500255104	1,329	21,233	SH		SOLE		20,038	0	1,195
MGE Energy	COM	55277p104	1,482	38,275	SH		SOLE		38,125	0	150
MGIC Investment Corp.	COM	552848103	964	84,672	SH		SOLE		82,497	0	2,175
McDonald's	COM	580135101	1,008	10,601	SH		SOLE		10,266	0	335
Medtronic plc	COM	g5960l103	1,892	25,532	SH		SOLE		23,967	0	1,565
Microsoft Corp.	COM	594918104	2,219	50,249	SH		SOLE		47,844	0	2,405
Minnesota Mining & Manufacturi	COM	88579Y101	326	2,115	SH		SOLE		2,115	0	0
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
Newmont Mining Corp	COM	651639106	238	10,194	SH		SOLE		9,944	0	250
Nordstrom Inc.	COM	655664100	603	8,097	SH		SOLE		7,352	0	745
Novartis AG	COM	66987v109	1,653	16,805	SH		SOLE		16,010	0	795
Occidental Petroleum	COM	674599105	546	7,015	SH		SOLE		7,015	0	0
Oracle Corp.	COM	68389X105	1,320	32,752	SH		SOLE		30,752	0	2,000
Oshkosh Corp	COM	688239201	218	5,150	SH		SOLE		5,150	0	0
Paychex	COM	704326107	557	11,892	SH		SOLE		11,772	0	120
Pengrowth Energy Trust	COM	70706p104	58	23,100	SH		SOLE		1,500	0	21,600
Pepsico Inc.	COM	713448108	2,354	25,219	SH		SOLE		23,999	0	1,220
Pfizer Inc.	COM	717081103	1,705	50,848	SH		SOLE		49,043	0	1,805
Philip Morris International	COM	718172109	378	4,710	SH		SOLE		4,535	0	175
Praxair	COM	74005P104	700	5,857	SH		SOLE		5,482	0	375
Pretium Resources Inc.	COM	74139c102	58	10,700	SH		SOLE		400	0	10,300
Procter & Gamble Co.	COM	742718109	2,278	29,110	SH		SOLE		27,119	0	1,991
Prudential Financial, Inc.	COM	744320102	1,382	15,792	SH		SOLE		15,302	0	490
Quad/Graphics, Inc.	COM	747301109	517	27,955	SH		SOLE		27,955	0	0
Qualcomm Inc.	COM	747525103	959	15,316	SH		SOLE		14,366	0	950
RPM Inc.	COM	749685103	2,628	53,663	SH		SOLE		50,773	0	2,890
Range Resources	COM	75281a109	526	10,650	SH		SOLE		10,105	0	545
Regal-Beloit Corp.	COM	758750103	781	10,761	SH		SOLE		9,881	0	880
Rockwell Automation	COM	773903109	505	4,048	SH		SOLE		4,048	0	0
Sabina Gold & Silver Corp.	COM	785246109	7	19,800	SH		SOLE		0	0	19,800
Samex Mining Corp.	COM	795912104	0	204,500	SH		SOLE		6,000	0	198,500
Schlumberger Ltd.	COM	806857108	984	11,413	SH		SOLE		10,133	0	1,280
Sensient Technologies	COM	81725T100	344	5,030	SH		SOLE		30	0	5,000
Stanley Black & Decker, Inc.	COM	854502101	1,000	9,501	SH		SOLE		9,266	0	235
Target Corp.	COM	87612E106	208	2,553	SH		SOLE		2,273	0	280
Teva Pharmaceutical Ind.	COM	881624209	1,532	25,914	SH		SOLE		24,829	0	1,085
U.S. Bancorp	COM	902973304	748	17,229	SH		SOLE		16,219	0	1,010
United Technologies Corp.	COM	913017109	381	3,435	SH		SOLE		3,210	0	225
UnitedHealth Group Inc	COM	91324p102	823	6,747	SH		SOLE		6,707	0	40
VF Corp	COM	918204108	1,878	26,922	SH		SOLE		26,072	0	850
Valero Energy Corp	COM	91913y100	448	7,155	SH		SOLE		6,980	0	175
Verizon	COM	92343V104	1,532	32,871	SH		SOLE		31,211	0	1,660
WEC Energy Group, Inc.	COM	92939u106	1,475	32,798	SH		SOLE		31,841	0	957
Wal-Mart Stores Inc.	COM	931142103	726	10,235	SH		SOLE		9,785	0	450
Walgreens Boots Alliance	COM	931427108	3,790	44,883	SH		SOLE		25,909	0	18,974
Walt Disney Productions	COM	254687106	635	5,566	SH		SOLE		5,566	0	0
Wells Fargo & Co.	COM	949746101	1,086	19,309	SH		SOLE		18,119	0	1,190
YUM! Brands, Inc.	COM	988498101	379	4,205	SH		SOLE		3,915	0	290
Yamana Gold, Inc.	COM	98462y100	42	13,939	SH		SOLE		1,039	0	12,900
Madison Covered Call&Equity St	ETF	557437100	629	78,820	SH		SOLE		72,820	0	6,000
MidCap SPDRs	ETF	78467y107	420	1,538	SH		SOLE		1,538	0	0
NASDAQ 100 Index Tracker	ETF	73935A104	201	1,874	SH		SOLE		1,874	0	0
Rydex S&P 500 Pure Growth ETF	ETF	78355w403	306	3,771	SH		SOLE		3,738	0	33
S&P 500/Barra Growth (iShares)	ETF	464287309	227	1,994	SH		SOLE		1,449	0	545
S&P 500/Barra Value (iShares)	ETF	464287408	240	2,608	SH		SOLE		1,933	0	675
S&P Dep Receipts	ETF	78462f103	654	3,178	SH		SOLE		3,178	0	0
S&P High Yield Dividend Aristo	ETF	78464a763	239	3,138	SH		SOLE		3,138	0	0
SPDR Dow Jones Industrial Aver	ETF	78467x109	510	2,903	SH		SOLE		2,903	0	0
Schwab U.S. Large-Cap Growth E	ETF	808524300	272	5,065	SH		SOLE		4,805	0	260
Schwab U.S. Mid Cap ETF	ETF	808524508	278	6,522	SH		SOLE		6,380	0	142
Schwab US Dividend Equity ETF	ETF	808524797	497	12,985	SH		SOLE		12,617	0	368
Vanguard High Dividend Yield I	ETF	921946406	2,161	32,101	SH		SOLE		32,101	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	2,781	33,521	SH		SOLE		33,521	0	0
Vanguard Mid Cap ETF	ETF	922908629	992	7,784	SH		SOLE		7,784	0	0
iShares DJ Transp Avg	ETF	464287192	229	1,580	SH		SOLE		1,580	0	0
S&P 600/Barra Growth Index (iS	SMLC	464287887	1,400	10,688	SH		SOLE		10,082	0	606
S&P 600/Barra Value Index (iSh	SMLC	464287879	1,290	10,954	SH		SOLE		10,509	0	445
Schwab U.S. Small-Cap ETF	SMLC	808524607	221	3,841	SH		SOLE		3,746	0	95
Vanguard Small Cap ETF	SMLC	922908751	1,293	10,647	SH		SOLE		10,647	0	0
WisdomTree SmallCap Dividend E	SMLC	97717w604	394	5,590	SH		SOLE		5,590	0	0
China-H FTSE/Xinhua 25 Index (	INTL	464287184	420	9,112	SH		SOLE		7,912	0	1,200
Europe/Australia/Far-East Inde	INTL	464287465	609	9,597	SH		SOLE		8,533	0	1,064
MSCI Emerging Markets Index (i	INTL	464287234	529	13,354	SH		SOLE		11,974	0	1,380
SPDR S&P International Dividen	INTL	78463X772	274	6,605	SH		SOLE		6,355	0	250
Schwab International Equity ET	INTL	808524805	241	7,914	SH		SOLE		7,460	0	454
Vanguard Emerging Markets Stoc	INTL	922042858	1,661	40,634	SH		SOLE		40,484	0	150
Vanguard FTSE Developed Market	INTL	921943858	1,944	49,037	SH		SOLE		48,387	0	650
Wisdom Tree Japan Hedged Equit	INTL	97717W851	615	10,747	SH		SOLE		10,362	0	385
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	857	16,789	SH		SOLE		16,514	0	275
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	327	7,519	SH		SOLE		7,174	0	345
WisdomTree Int'l Hedged Divide	INTL	97717x594	263	10,069	SH		SOLE		9,644	0	425
iShares Dow Jones EPAC Select	INTL	464288448	363	11,220	SH		SOLE		10,845	0	375
iShares MSCI All Country Asia	INTL	464288182	507	8,047	SH		SOLE		7,370	0	677
iShares MSCI EAFE Small Cap In	INTL	464288273	316	6,196	SH		SOLE		6,196	0	0
Alliance Bernstein Income Fund	FIXD	01881e101	87	11,708	SH		SOLE		11,708	0	0
BlackRock Int. Duration Munici	FIXD	09253X102	1,076	79,145	SH		SOLE		75,965	0	3,180
BlackRock MuniAssets Fund	FIXD	09254j102	623	46,045	SH		SOLE		45,045	0	1,000
Calamos Convertible & High Inc	FIXD	12811p108	440	33,080	SH		SOLE		28,805	0	4,275
Eaton Vance Limited Duration I	FIXD	27828H105	564	41,895	SH		SOLE		37,995	0	3,900
Guggenheim Enhanced Short-Dura	FIXD	18383m654	247	4,925	SH		SOLE		4,775	0	150
Nuveen Insured Municipal Oppor	FIXD	670984103	161	11,800	SH		SOLE		10,800	0	1,000
Nuveen Municipal Value Fund In	FIXD	670928100	222	23,050	SH		SOLE		23,050	0	0
PIMCO 1-5 Year US TIPS Index E	FIXD	72201r205	572	10,952	SH		SOLE		10,935	0	17
PIMCO Corporate Opportunity Fu	FIXD	72201b101	538	37,174	SH		SOLE		34,324	0	2,850
PIMCO Enhanced Short Maturity	FIXD	72201r833	593	5,865	SH		SOLE		5,490	0	375
PowerShares CEF Income Composi	FIXD	73936q843	464	20,330	SH		SOLE		19,355	0	975
PowerShares Senior Loan Port	FIXD	73936q769	207	8,689	SH		SOLE		8,652	0	37
Putnam Master Intrm Inc Tr	FIXD	746909100	63	13,356	SH		SOLE		13,356	0	0
SPDR Barclays Capital High Yie	FIXD	78464a417	651	16,940	SH		SOLE		16,940	0	0
SPDR Nuveen Barclays Cap Build	FIXD	78464a276	538	9,235	SH		SOLE		8,825	0	410
SPDR Nuveen S&P High Yield Mun	FIXD	78464A284	308	5,554	SH		SOLE		5,354	0	200
SPDR Short Term Municipal Bond	FIXD	78464a425	1,111	45,745	SH		SOLE		45,745	0	0
Schwab Intermediate-Term U.S.	FIXD	808524854	245	4,572	SH		SOLE		4,332	0	240
Templeton Global Income Fund	FIXD	880198106	301	42,750	SH		SOLE		8,800	0	33,950
iShares 3-7 Year Treasury Bond	FIXD	464288661	782	6,362	SH		SOLE		6,362	0	0
iShares Barclays 1-3 Yr Credit	FIXD	464288646	264	2,506	SH		SOLE		2,476	0	30
iShares Barclays Aggregate Bon	FIXD	464287226	1,220	11,218	SH		SOLE		11,218	0	0
iShares Barclays TIPS Bond Fun	FIXD	464287176	845	7,540	SH		SOLE		7,505	0	35
iShares iBoxx Invest Grade Cor	FIXD	464287242	1,906	16,469	SH		SOLE		16,284	0	185
Central Fund of Canada Limited	CMDT	153501101	1,081	92,682	SH		SOLE		6,539	0	86,143
Gold Shares SPDR	CMDT	78463v107	538	4,785	SH		SOLE		4,475	0	310
Sprott Physical Gold Trust ETV	CMDT	85207h104	130	13,500	SH		SOLE		200	0	13,300
iPath Dow Jones-AIG Commodity	CMDT	06738C778	692	23,819	SH		SOLE		23,819	0	0
iShares Gold Trust	CMDT	464285105	139	12,229	SH		SOLE		10,764	0	1,465
Claymore/Clear Global Timber I	REAL	18383q879	226	8,857	SH		SOLE		7,457	0	1,400
Columbia Property Trust, Inc.	REAL	198287203	219	8,922	SH		SOLE		8,922	0	0
DJ Wilshire Int'l Real Estate	REAL	78463x863	419	10,019	SH		SOLE		8,334	0	1,685
Mortgage REIT Index	REAL	464288539	170	16,099	SH		SOLE		15,649	0	450
SPDR Dow Jones Global Real Est	REAL	78463x749	859	18,746	SH		SOLE		18,727	0	19
iShares S&P Global Timber & Fo	REAL	464288174	339	6,455	SH		SOLE		5,890	0	565
Calamos Market Neutral Income	HEDG	128119203	681	52,095	SH		SOLE		52,095	0	0
DWS RREEF Global Infrastructur	HEDG	25156a809	427	30,658	SH		SOLE		30,431	0	228
Goldman Sachs Satellite Strate	HEDG	38143H357	324	40,818	SH		SOLE		39,935	0	883