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
Estimated average burden
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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	1,499	46,009	SH		SOLE		45,344	0	665
AbbVie Inc.	COM	00287y109	1,364	25,068	SH		SOLE		22,864	0	2,204
Abbott Labs	COM	002824100	630	15,661	SH		SOLE		14,187	0	1,474
Accenture	COM	g1151c101	894	9,100	SH		SOLE		8,575	0	525
Air Products and Chemicals Inc	COM	009158106	228	1,790	SH		SOLE		964	0	826
Allegheny Technologies	COM	01741r102	2,239	157,930	SH		SOLE		143,105	0	14,825
Alliant Energy	COM	018802108	1,690	28,894	SH		SOLE		27,314	0	1,580
Altria Group	COM	02209s103	417	7,675	SH		SOLE		7,595	0	80
Amazon.com	COM	023135106	297	580	SH		SOLE		570	0	10
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	1,061	7,668	SH		SOLE		7,198	0	470
Anadarko Petroleum	COM	032511107	329	5,446	SH		SOLE		4,906	0	540
Apache Corporation	COM	037411105	271	6,922	SH		SOLE		6,572	0	350
Apple Inc.	COM	037833100	3,085	27,969	SH		SOLE		26,360	0	1,609
Arrow Electronics	COM	042735100	1,254	22,682	SH		SOLE		21,207	0	1,475
BP p.l.c.	COM	055622104	370	12,097	SH		SOLE		9,755	0	2,342
Bank of America	COM	060505104	2,207	141,667	SH		SOLE		127,326	0	14,341
Bank of Montreal	COM	063671101	407	7,460	SH		SOLE		6,850	0	610
Berkshire Hathaway cl. A (1/10	COM	084990175	976	500	SH		SOLE		500	0	0
Berkshire Hathaway cl. B	COM	084670702	1,194	9,158	SH		SOLE		8,898	0	260
Briggs & Stratton	COM	109043109	719	37,225	SH		SOLE		34,175	0	3,050
Bristol-Myers Squibb	COM	110122108	255	4,300	SH		SOLE		4,300	0	0
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Carnival Corporation	COM	143658300	2,195	44,175	SH		SOLE		39,950	0	4,225
Caterpillar Inc.	COM	149123101	426	6,515	SH		SOLE		5,850	0	665
Certified Diabetic Services In	COM	157012105	0	24,500	SH		SOLE		0	0	24,500
Chesapeake Energy Corporation	COM	165167107	627	85,525	SH		SOLE		71,900	0	13,625
Chevron Corp.	COM	166764100	1,262	16,004	SH		SOLE		14,662	0	1,342
Cigna Corp.	COM	125509109	283	2,099	SH		SOLE		2,099	0	0
Cisco Systems Inc.	COM	17275R102	842	32,090	SH		SOLE		30,640	0	1,450
Citigroup Inc.	COM	172967424	3,133	63,159	SH		SOLE		57,634	0	5,525
Coca-Cola Co.	COM	191216100	400	9,980	SH		SOLE		7,425	0	2,555
Colgate-Palmolive Co.	COM	194162103	1,163	18,328	SH		SOLE		16,333	0	1,995
DNAPrint Genomics, Inc.	COM	23324q202	0	29,000	SH		SOLE		29,000	0	0
Deere & Co	COM	244199105	208	2,814	SH		SOLE		2,584	0	230
Dominion Resources Inc.	COM	25746U109	523	7,427	SH		SOLE		7,087	0	340
Dow Chemical Corp.	COM	260543103	529	12,475	SH		SOLE		12,475	0	0
Du Pont E.I. De Nemour & Co.	COM	263534109	752	15,606	SH		SOLE		15,176	0	430
Duff & Phelps Select Income Fu	COM	23325P104	318	35,367	SH		SOLE		32,992	0	2,375
Duke Energy	COM	26441C204	356	4,947	SH		SOLE		4,947	0	0
EMC Corp.	COM	268648102	1,705	70,582	SH		SOLE		65,182	0	5,400
Emerson Electric Co.	COM	291011104	510	11,536	SH		SOLE		9,961	0	1,575
Enerplus Corporation	COM	292766102	159	32,740	SH		SOLE		4,600	0	28,140
Exxon-Mobil	COM	30231G102	1,128	15,174	SH		SOLE		14,839	0	335
Facebook Inc.	COM	30303m102	953	10,601	SH		SOLE		9,941	0	660
Fastenal Co.	COM	311900104	315	8,608	SH		SOLE		7,588	0	1,020
Fiserv Inc.	COM	337738108	2,545	29,384	SH		SOLE		28,444	0	940
Fortuna Silver Mines Inc.	COM	349915108	72	33,000	SH		SOLE		0	0	33,000
Generac Holdings, Inc.	COM	368736104	328	10,915	SH		SOLE		10,290	0	625
General Dynamics	COM	369550108	477	3,460	SH		SOLE		2,960	0	500
General Electric Co.	COM	369604103	6,005	238,099	SH		SOLE		225,554	0	12,545
General Motors Corp.	COM	37045v100	2,950	98,264	SH		SOLE		88,089	0	10,175
Genuine Parts	COM	372460105	772	9,314	SH		SOLE		8,709	0	605
Gilead Sciences	COM	375558103	2,075	21,136	SH		SOLE		20,621	0	515
Golden Star Resources, Ltd.	COM	38119t104	10	52,150	SH		SOLE		28,000	0	24,150
Google Inc. Class A	COM	38259p508	1,092	1,710	SH		SOLE		1,347	0	363
Google Inc. Class C	COM	38259p706	1,532	2,518	SH		SOLE		2,045	0	473
Halliburton Co.	COM	406216101	699	19,772	SH		SOLE		17,197	0	2,575
Hard To Treat Diseases	COM	41164a103	0	100,000	SH		SOLE		100,000	0	0
Harley Davidson	COM	412822108	330	6,009	SH		SOLE		6,009	0	0
Home Depot Inc.	COM	437076102	472	4,087	SH		SOLE		4,087	0	0
Intel Corp.	COM	458140100	1,776	58,935	SH		SOLE		55,835	0	3,100
Intl Business Mach. Corp.	COM	459200101	995	6,861	SH		SOLE		6,336	0	525
J.P. Morgan Chase	COM	46625H100	2,744	45,002	SH		SOLE		41,749	0	3,253
Johnson & Johnson	COM	478160104	2,919	31,270	SH		SOLE		28,990	0	2,280
Johnson Controls	COM	478366107	3,481	84,172	SH		SOLE		77,377	0	6,795
Kimberly-Clark Corp.	COM	494368103	1,515	13,896	SH		SOLE		13,561	0	335
Kohl's Corp.	COM	500255104	2,594	56,023	SH		SOLE		52,273	0	3,750
Lockheed Martin Corp.	COM	539830109	207	997	SH		SOLE		997	0	0
MGE Energy	COM	55277p104	1,587	38,535	SH		SOLE		38,385	0	150
MGIC Investment Corp.	COM	552848103	869	93,872	SH		SOLE		91,397	0	2,475
McDonald's	COM	580135101	1,028	10,438	SH		SOLE		10,183	0	255
Medtronic plc	COM	g5960l103	1,707	25,495	SH		SOLE		23,830	0	1,665
Metlife Inc	COM	59156R108	2,108	44,702	SH		SOLE		40,227	0	4,475
Microsoft Corp.	COM	594918104	2,230	50,374	SH		SOLE		47,969	0	2,405
Minnesota Mining & Manufacturi	COM	88579Y101	279	1,970	SH		SOLE		1,970	0	0
Modine Manufacturing	COM	607828100	1,094	139,000	SH		SOLE		125,800	0	13,200
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
Newmont Mining Corp	COM	651639106	162	10,094	SH		SOLE		9,944	0	150
Nordstrom Inc.	COM	655664100	584	8,147	SH		SOLE		7,402	0	745
Novartis AG	COM	66987v109	1,547	16,825	SH		SOLE		16,055	0	770
Occidental Petroleum	COM	674599105	468	7,080	SH		SOLE		7,080	0	0
Oracle Corp.	COM	68389X105	1,225	33,927	SH		SOLE		31,927	0	2,000
Owens-Illinois, Inc.	COM	690768403	1,658	80,030	SH		SOLE		72,530	0	7,500
Paychex	COM	704326107	566	11,893	SH		SOLE		11,773	0	120
Pepsico Inc.	COM	713448108	1,676	17,772	SH		SOLE		16,582	0	1,190
Pfizer Inc.	COM	717081103	1,586	50,493	SH		SOLE		48,938	0	1,555
Philip Morris International	COM	718172109	374	4,710	SH		SOLE		4,535	0	175
Praxair	COM	74005P104	590	5,792	SH		SOLE		5,417	0	375
Pretium Resources Inc.	COM	74139c102	96	15,900	SH		SOLE		4,800	0	11,100
Procter & Gamble Co.	COM	742718109	2,090	29,054	SH		SOLE		27,073	0	1,981
Prudential Financial, Inc.	COM	744320102	1,294	16,974	SH		SOLE		16,484	0	490
Quad/Graphics, Inc.	COM	747301109	345	28,531	SH		SOLE		28,531	0	0
Qualcomm Inc.	COM	747525103	769	14,310	SH		SOLE		13,475	0	835
RPM Inc.	COM	749685103	2,230	53,227	SH		SOLE		50,337	0	2,890
Range Resources	COM	75281a109	1,235	38,435	SH		SOLE		35,415	0	3,020
Regal-Beloit Corp.	COM	758750103	616	10,911	SH		SOLE		10,031	0	880
Reynolds American Inc.	COM	761713106	202	4,558	SH		SOLE		4,558	0	0
Rockwell Automation	COM	773903109	401	3,948	SH		SOLE		3,948	0	0
Sabina Gold & Silver Corp.	COM	785246109	6	19,900	SH		SOLE		8,300	0	11,600
Samex Mining Corp.	COM	795912104	0	99,000	SH		SOLE		75,000	0	24,000
Schlumberger Ltd.	COM	806857108	784	11,373	SH		SOLE		10,093	0	1,280
Sensient Technologies	COM	81725T100	308	5,030	SH		SOLE		30	0	5,000
Stanley Black & Decker, Inc.	COM	854502101	921	9,501	SH		SOLE		9,266	0	235
Target Corp.	COM	87612E106	1,418	18,033	SH		SOLE		16,278	0	1,755
Teva Pharmaceutical Ind.	COM	881624209	1,443	25,554	SH		SOLE		24,469	0	1,085
U.S. Bancorp	COM	902973304	701	17,102	SH		SOLE		16,092	0	1,010
UnitedHealth Group Inc	COM	91324p102	790	6,807	SH		SOLE		6,767	0	40
VF Corp	COM	918204108	1,651	24,206	SH		SOLE		23,466	0	740
Valero Energy Corp	COM	91913y100	406	6,755	SH		SOLE		6,580	0	175
Verizon	COM	92343V104	2,756	63,349	SH		SOLE		59,214	0	4,135
WD 40 Company	COM	929236107	200	2,250	SH		SOLE		2,250	0	0
WEC Energy Group, Inc.	COM	92939u106	1,725	33,039	SH		SOLE		32,082	0	957
Wal-Mart Stores Inc.	COM	931142103	1,930	29,770	SH		SOLE		27,620	0	2,150
Walgreens Boots Alliance	COM	931427108	3,706	44,593	SH		SOLE		25,669	0	18,924
Walt Disney Productions	COM	254687106	554	5,416	SH		SOLE		5,416	0	0
Weatherford International	COM	g48833100	1,011	119,250	SH		SOLE		109,550	0	9,700
Wells Fargo & Co.	COM	949746101	1,135	22,104	SH		SOLE		20,914	0	1,190
YUM! Brands, Inc.	COM	988498101	331	4,135	SH		SOLE		3,895	0	240
Madison Covered Call&Equity St	ETF	557437100	539	76,120	SH		SOLE		70,120	0	6,000
MidCap SPDRs	ETF	78467y107	391	1,569	SH		SOLE		1,569	0	0
Rydex S&P 500 Pure Growth ETF	ETF	78355w403	370	4,781	SH		SOLE		4,748	0	33
S&P Dep Receipts	ETF	78462f103	653	3,408	SH		SOLE		3,408	0	0
S&P High Yield Dividend Aristo	ETF	78464a763	226	3,138	SH		SOLE		3,138	0	0
SPDR Dow Jones Industrial Aver	ETF	78467x109	472	2,903	SH		SOLE		2,903	0	0
Schwab U.S. Large-Cap Growth E	ETF	808524300	373	7,463	SH		SOLE		7,203	0	260
Schwab U.S. Mid Cap ETF	ETF	808524508	302	7,760	SH		SOLE		7,618	0	142
Schwab US Dividend Equity ETF	ETF	808524797	485	13,478	SH		SOLE		13,106	0	372
Vanguard High Dividend Yield I	ETF	921946406	2,079	33,177	SH		SOLE		33,177	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	2,706	34,797	SH		SOLE		34,797	0	0
Vanguard Mid Cap ETF	ETF	922908629	933	7,994	SH		SOLE		7,994	0	0
iShares DJ Transp Avg	ETF	464287192	221	1,580	SH		SOLE		1,580	0	0
iShares Russell 1000 Value ETF	ETF	464287598	201	2,154	SH		SOLE		2,154	0	0
iShares Russell Growth Midcap	ETF	464287481	246	2,777	SH		SOLE		2,777	0	0
iShares Russell Midcap Value I	ETF	464287473	236	3,522	SH		SOLE		3,522	0	0
S&P 600/Barra Growth Index (iS	SMLC	464287887	1,232	10,252	SH		SOLE		9,691	0	561
S&P 600/Barra Value Index (iSh	SMLC	464287879	1,130	10,784	SH		SOLE		10,449	0	335
Schwab U.S. Small-Cap ETF	SMLC	808524607	236	4,654	SH		SOLE		4,559	0	95
Vanguard Small Cap ETF	SMLC	922908751	1,181	10,940	SH		SOLE		10,940	0	0
WisdomTree SmallCap Dividend E	SMLC	97717w604	352	5,590	SH		SOLE		5,590	0	0
China-H FTSE/Xinhua 25 Index (	INTL	464287184	230	6,472	SH		SOLE		5,872	0	600
Europe/Australia/Far-East Inde	INTL	464287465	466	8,133	SH		SOLE		7,269	0	864
MSCI Emerging Markets Index (i	INTL	464287234	412	12,565	SH		SOLE		11,185	0	1,380
MSCI Japan Index (iShares)	INTL	464286848	118	10,340	SH		SOLE		8,240	0	2,100
SPDR S&P International Dividen	INTL	78463X772	228	6,705	SH		SOLE		6,455	0	250
Schwab International Equity ET	INTL	808524805	230	8,413	SH		SOLE		7,956	0	457
Vanguard Emerging Markets Stoc	INTL	922042858	1,337	40,393	SH		SOLE		40,243	0	150
Vanguard FTSE Developed Market	INTL	921943858	2,039	57,221	SH		SOLE		55,701	0	1,520
Wisdom Tree Japan Hedged Equit	INTL	97717W851	541	11,109	SH		SOLE		10,724	0	385
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	827	18,218	SH		SOLE		17,893	0	325
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	271	8,095	SH		SOLE		7,750	0	345
WisdomTree Int'l Hedged Divide	INTL	97717x594	351	14,120	SH		SOLE		13,695	0	425
iShares MSCI All Country Asia	INTL	464288182	393	7,447	SH		SOLE		6,920	0	527
iShares MSCI EAFE Small Cap In	INTL	464288273	326	6,815	SH		SOLE		6,815	0	0
Alliance Bernstein Income Fund	FIXD	01881e101	92	11,708	SH		SOLE		11,708	0	0
BlackRock Int. Duration Munici	FIXD	09253X102	1,051	75,495	SH		SOLE		72,315	0	3,180
BlackRock MuniAssets Fund	FIXD	09254j102	627	46,445	SH		SOLE		45,445	0	1,000
Calamos Convertible & High Inc	FIXD	12811p108	382	35,130	SH		SOLE		30,755	0	4,375
Eaton Vance Limited Duration I	FIXD	27828H105	540	42,595	SH		SOLE		38,595	0	4,000
Guggenheim Enhanced Short-Dura	FIXD	18383m654	359	7,175	SH		SOLE		6,025	0	1,150
Nuveen Insured Municipal Oppor	FIXD	670984103	166	11,800	SH		SOLE		10,800	0	1,000
Nuveen Municipal Value Fund In	FIXD	670928100	216	22,050	SH		SOLE		22,050	0	0
PIMCO 1-5 Year US TIPS Index E	FIXD	72201r205	577	11,189	SH		SOLE		11,172	0	17
PIMCO Corporate Opportunity Fu	FIXD	72201b101	516	38,824	SH		SOLE		35,824	0	3,000
PIMCO Enhanced Short Maturity	FIXD	72201r833	644	6,390	SH		SOLE		6,015	0	375
PowerShares CEF Income Composi	FIXD	73936q843	431	20,534	SH		SOLE		19,559	0	975
PowerShares Senior Loan Port	FIXD	73936q769	210	9,114	SH		SOLE		9,077	0	37
Putnam Master Intrm Inc Tr	FIXD	746909100	48	10,700	SH		SOLE		10,700	0	0
SPDR Barclays Capital High Yie	FIXD	78464a417	639	17,915	SH		SOLE		17,915	0	0
SPDR Nuveen Barclays Cap Build	FIXD	78464a276	557	9,270	SH		SOLE		8,860	0	410
SPDR Nuveen S&P High Yield Mun	FIXD	78464A284	375	6,620	SH		SOLE		6,420	0	200
SPDR Short Term Municipal Bond	FIXD	78464a425	1,072	44,020	SH		SOLE		44,020	0	0
Schwab Intermediate-Term U.S.	FIXD	808524854	266	4,873	SH		SOLE		4,633	0	240
Templeton Global Income Fund	FIXD	880198106	291	47,750	SH		SOLE		12,200	0	35,550
iShares 3-7 Year Treasury Bond	FIXD	464288661	1,205	9,667	SH		SOLE		9,667	0	0
iShares Barclays 1-3 Yr Credit	FIXD	464288646	350	3,326	SH		SOLE		3,156	0	170
iShares Barclays Aggregate Bon	FIXD	464287226	1,119	10,209	SH		SOLE		10,209	0	0
iShares Barclays TIPS Bond Fun	FIXD	464287176	857	7,743	SH		SOLE		7,708	0	35
iShares iBoxx Invest Grade Cor	FIXD	464287242	1,793	15,448	SH		SOLE		15,282	0	166
Central Fund of Canada Limited	CMDT	153501101	832	78,588	SH		SOLE		7,415	0	71,173
Gold Shares SPDR	CMDT	78463v107	519	4,860	SH		SOLE		4,550	0	310
Sprott Physical Gold Trust ETV	CMDT	85207h104	116	12,600	SH		SOLE		1,100	0	11,500
iPath Dow Jones-AIG Commodity	CMDT	06738C778	645	26,370	SH		SOLE		26,370	0	0
iShares Gold Trust	CMDT	464285105	132	12,229	SH		SOLE		10,764	0	1,465
Columbia Property Trust, Inc.	REAL	198287203	207	8,922	SH		SOLE		8,922	0	0
DJ Wilshire Int'l Real Estate	REAL	78463x863	425	10,804	SH		SOLE		9,034	0	1,770
Mortgage REIT Index	REAL	464288539	160	16,106	SH		SOLE		15,656	0	450
SPDR Dow Jones Global Real Est	REAL	78463x749	884	19,580	SH		SOLE		19,561	0	19
iShares S&P Global Timber & Fo	REAL	464288174	356	8,007	SH		SOLE		6,390	0	1,617
Calamos Market Neutral Income	HEDG	128119203	669	52,393	SH		SOLE		52,393	0	0
DWS RREEF Global Infrastructur	HEDG	25156a809	399	30,804	SH		SOLE		30,576	0	228