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	640	15,046	SH		SOLE		14,481	0	565
AbbVie Inc.	COM	00287y109	2,313	36,941	SH		SOLE		34,707	0	2,234
Abbott Labs	COM	002824100	392	10,200	SH		SOLE		8,726	0	1,474
Accenture	COM	g1151c101	722	6,166	SH		SOLE		5,666	0	500
Adient plc	COM	g0084w101	2,617	44,654	SH		SOLE		43,974	0	680
Air Products and Chemicals Inc	COM	009158106	225	1,561	SH		SOLE		785	0	776
Allegheny Technologies	COM	01741r102	4,178	262,288	SH		SOLE		258,743	0	3,545
Alliant Energy	COM	018802108	893	23,557	SH		SOLE		21,520	0	2,037
Alphabet Inc. Class A	COM	02079k305	869	1,096	SH		SOLE		738	0	358
Alphabet Inc. Class C	COM	02079k107	1,820	2,358	SH		SOLE		1,884	0	474
Altria Group	COM	02209s103	438	6,470	SH		SOLE		6,470	0	0
Amazon.com	COM	023135106	336	448	SH		SOLE		428	0	20
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	886	6,058	SH		SOLE		5,638	0	420
Apache Corporation	COM	037411105	301	4,736	SH		SOLE		4,356	0	380
Apple Inc.	COM	037833100	2,277	19,660	SH		SOLE		18,851	0	809
Arrow Electronics	COM	042735100	1,346	18,880	SH		SOLE		18,880	0	0
BP p.l.c.	COM	055622104	347	9,280	SH		SOLE		6,980	0	2,300
Bank of America	COM	060505104	2,565	116,083	SH		SOLE		115,892	0	191
Bank of Montreal	COM	063671101	444	6,178	SH		SOLE		5,768	0	410
Berkshire Hathaway cl. A (1/10	COM	084990175	1,221	500	SH		SOLE		500	0	0
Berkshire Hathaway cl. B	COM	084670702	954	5,852	SH		SOLE		5,667	0	185
CVS Caremark Corp	COM	126650100	1,787	22,650	SH		SOLE		22,650	0	0
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Carnival Corporation	COM	143658300	1,279	24,565	SH		SOLE		24,565	0	0
Caterpillar Inc.	COM	149123101	288	3,110	SH		SOLE		2,760	0	350
Chesapeake Energy Corporation	COM	165167107	941	133,975	SH		SOLE		133,975	0	0
Chevron Corp.	COM	166764100	1,160	9,858	SH		SOLE		9,031	0	827
Cigna Corp.	COM	125509109	213	1,599	SH		SOLE		1,599	0	0
Cisco Systems Inc.	COM	17275R102	2,555	84,534	SH		SOLE		82,504	0	2,030
Citigroup Inc.	COM	172967424	4,565	76,805	SH		SOLE		75,325	0	1,480
Coca-Cola Co.	COM	191216100	332	8,004	SH		SOLE		5,449	0	2,555
Colgate-Palmolive Co.	COM	194162103	839	12,827	SH		SOLE		11,042	0	1,785
Dominion Resources Inc.	COM	25746U109	430	5,617	SH		SOLE		5,277	0	340
Du Pont E.I. De Nemour & Co.	COM	263534109	254	3,466	SH		SOLE		3,221	0	245
Emerson Electric Co.	COM	291011104	427	7,664	SH		SOLE		6,214	0	1,450
Exxon-Mobil	COM	30231G102	560	6,206	SH		SOLE		5,871	0	335
Facebook Inc.	COM	30303m102	1,029	8,946	SH		SOLE		8,311	0	635
Fastenal Co.	COM	311900104	377	8,028	SH		SOLE		7,008	0	1,020
Fiserv Inc.	COM	337738108	1,295	12,185	SH		SOLE		11,595	0	590
General Dynamics	COM	369550108	507	2,935	SH		SOLE		2,535	0	400
General Electric Co.	COM	369604103	2,603	82,364	SH		SOLE		79,769	0	2,595
General Motors Corp.	COM	37045v100	2,352	67,512	SH		SOLE		67,512	0	0
Genuine Parts	COM	372460105	576	6,025	SH		SOLE		5,825	0	200
Gilead Sciences	COM	375558103	1,861	25,993	SH		SOLE		25,333	0	660
Growlife, Inc.	COM	39985x104	3	147,400	SH		SOLE		147,400	0	0
Helen of Troy, Ltd	COM	g4388n106	1,128	13,355	SH		SOLE		12,850	0	505
Hershey Foods Corp	COM	427866108	207	2,000	SH		SOLE		2,000	0	0
Intel Corp.	COM	458140100	1,510	41,625	SH		SOLE		39,000	0	2,625
Intl Business Mach. Corp.	COM	459200101	692	4,170	SH		SOLE		3,765	0	405
J.P. Morgan Chase	COM	46625H100	2,757	31,945	SH		SOLE		31,067	0	878
Johnson & Johnson	COM	478160104	2,191	19,015	SH		SOLE		17,055	0	1,960
Johnson Controls Intl plc	COM	G51502105	2,786	67,647	SH		SOLE		66,444	0	1,203
Kimberly-Clark Corp.	COM	494368103	1,353	11,858	SH		SOLE		11,738	0	120
Kohl's Corp.	COM	500255104	4,294	86,952	SH		SOLE		85,412	0	1,540
Lockheed Martin Corp.	COM	539830109	220	880	SH		SOLE		880	0	0
MGE Energy	COM	55277p104	442	6,767	SH		SOLE		6,617	0	150
MGIC Investment Corp.	COM	552848103	4,604	451,822	SH		SOLE		445,312	0	6,510
McDonald's	COM	580135101	680	5,583	SH		SOLE		5,448	0	135
Medtronic plc	COM	g5960l103	855	11,999	SH		SOLE		10,614	0	1,385
Metlife Inc	COM	59156R108	1,736	32,214	SH		SOLE		32,214	0	0
Microsoft Corp.	COM	594918104	2,357	37,930	SH		SOLE		35,625	0	2,305
Minnesota Mining & Manufacturi	COM	88579Y101	253	1,418	SH		SOLE		1,418	0	0
Modine Manufacturing	COM	607828100	1,506	101,050	SH		SOLE		101,050	0	0
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
Nordstrom Inc.	COM	655664100	520	10,845	SH		SOLE		9,920	0	925
Novartis AG	COM	66987v109	977	13,415	SH		SOLE		12,790	0	625
Olin Corp	COM	680665205	3,688	144,014	SH		SOLE		141,494	0	2,520
Oracle Corp.	COM	68389X105	814	21,159	SH		SOLE		19,009	0	2,150
Owens-Illinois, Inc.	COM	690768403	3,946	226,625	SH		SOLE		224,090	0	2,535
Paychex	COM	704326107	567	9,305	SH		SOLE		9,185	0	120
Pepsico Inc.	COM	713448108	1,152	11,006	SH		SOLE		9,841	0	1,165
Pfizer Inc.	COM	717081103	775	23,862	SH		SOLE		23,462	0	400
Philip Morris International	COM	718172109	365	3,985	SH		SOLE		3,810	0	175
Praxair	COM	74005P104	502	4,280	SH		SOLE		4,205	0	75
Procter & Gamble Co.	COM	742718109	982	11,683	SH		SOLE		10,082	0	1,601
Prudential Financial, Inc.	COM	744320102	1,805	17,342	SH		SOLE		16,537	0	805
Quad/Graphics, Inc.	COM	747301109	947	35,245	SH		SOLE		35,170	0	75
Qualcomm Inc.	COM	747525103	1,104	16,925	SH		SOLE		16,025	0	900
RPM Inc.	COM	749685103	1,402	26,039	SH		SOLE		24,059	0	1,980
Range Resources	COM	75281a109	2,466	71,760	SH		SOLE		70,805	0	955
Regal-Beloit Corp.	COM	758750103	1,717	24,795	SH		SOLE		23,685	0	1,110
Schlumberger Ltd.	COM	806857108	882	10,510	SH		SOLE		9,350	0	1,160
Sensient Technologies	COM	81725T100	314	4,000	SH		SOLE		0	0	4,000
Stanley Black & Decker, Inc.	COM	854502101	1,012	8,822	SH		SOLE		8,567	0	255
Target Corp.	COM	87612E106	609	8,438	SH		SOLE		8,438	0	0
Teva Pharmaceutical Ind.	COM	881624209	1,409	38,872	SH		SOLE		37,972	0	900
U.S. Bancorp	COM	902973304	514	10,007	SH		SOLE		9,197	0	810
UnitedHealth Group Inc	COM	91324p102	872	5,448	SH		SOLE		5,408	0	40
VF Corp	COM	918204108	860	16,115	SH		SOLE		15,050	0	1,065
Vectren Corp.	COM	92240G101	241	4,624	SH		SOLE		0	0	4,624
Verizon	COM	92343V104	3,858	72,282	SH		SOLE		70,672	0	1,610
WEC Energy Group, Inc.	COM	92939u106	550	9,385	SH		SOLE		8,540	0	845
Walgreens Boots Alliance	COM	931427108	2,652	32,046	SH		SOLE		13,122	0	18,924
Walt Disney Productions	COM	254687106	528	5,062	SH		SOLE		5,062	0	0
Weatherford International	COM	g48833100	2,172	435,255	SH		SOLE		429,725	0	5,530
Wells Fargo & Co.	COM	949746101	511	9,281	SH		SOLE		8,331	0	950
YUM! Brands, Inc.	COM	988498101	205	3,235	SH		SOLE		3,015	0	220
Duff & Phelps Select Income Fu	ETF	23325P104	294	28,719	SH		SOLE		26,694	0	2,025
Guggenheim S&P 500 Pure Growth	ETF	78355w403	628	7,515	SH		SOLE		7,446	0	69
Madison Covered Call&Equity St	ETF	557437100	345	44,782	SH		SOLE		40,732	0	4,050
S&P 500/Barra Value (iShares)	ETF	464287408	234	2,313	SH		SOLE		1,663	0	650
Schwab U.S. Large-Cap Growth E	ETF	808524300	330	5,908	SH		SOLE		5,458	0	450
Schwab U.S. Mid Cap ETF	ETF	808524508	347	7,681	SH		SOLE		7,516	0	165
Schwab US Dividend Equity ETF	ETF	808524797	443	10,176	SH		SOLE		9,806	0	370
Vanguard High Dividend Yield I	ETF	921946406	216	2,849	SH		SOLE		2,849	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	2,181	25,032	SH		SOLE		25,032	0	0
Vanguard Mid Cap ETF	ETF	922908629	704	5,345	SH		SOLE		5,345	0	0
iShares Russell 1000 Growth ET	ETF	464287614	318	3,029	SH		SOLE		3,029	0	0
iShares Russell 1000 Value ETF	ETF	464287598	279	2,489	SH		SOLE		2,489	0	0
iShares Russell Growth Midcap	ETF	464287481	260	2,667	SH		SOLE		2,667	0	0
iShares Russell Midcap Value I	ETF	464287473	224	2,791	SH		SOLE		2,791	0	0
S&P 600/Barra Growth Index (iS	SMLC	464287887	1,437	9,579	SH		SOLE		9,098	0	481
S&P 600/Barra Value Index (iSh	SMLC	464287879	1,437	10,265	SH		SOLE		9,955	0	310
Schwab U.S. Small-Cap ETF	SMLC	808524607	392	6,381	SH		SOLE		6,197	0	184
Vanguard Small Cap ETF	SMLC	922908751	406	3,149	SH		SOLE		3,149	0	0
WisdomTree SmallCap Dividend E	SMLC	97717w604	342	4,133	SH		SOLE		4,133	0	0
iShares S&P SmallCap 600 Index	SMLC	464287804	852	6,192	SH		SOLE		6,192	0	0
Europe/Australia/Far-East Inde	INTL	464287465	369	6,385	SH		SOLE		5,521	0	864
MSCI Emerging Markets Index (i	INTL	464287234	411	11,730	SH		SOLE		10,550	0	1,180
SPDR S&P International Dividen	INTL	78463X772	231	6,394	SH		SOLE		6,179	0	215
Schwab Emerging Markets Equity	INTL	808524706	283	13,147	SH		SOLE		12,678	0	469
Schwab International Equity ET	INTL	808524805	336	12,139	SH		SOLE		11,271	0	868
Vanguard Emerging Markets Stoc	INTL	922042858	1,441	40,286	SH		SOLE		39,936	0	350
Vanguard FTSE Developed Market	INTL	921943858	1,981	54,225	SH		SOLE		52,425	0	1,800
Wisdom Tree Japan Hedged Equit	INTL	97717W851	650	13,114	SH		SOLE		12,429	0	685
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	923	19,896	SH		SOLE		19,371	0	525
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	456	12,206	SH		SOLE		11,781	0	425
WisdomTree Int'l Hedged Divide	INTL	97717x594	418	15,856	SH		SOLE		15,231	0	625
iShares MSCI All Country Asia	INTL	464288182	352	6,402	SH		SOLE		5,875	0	527
BlackRock Int. Duration Munici	FIXD	09253X102	804	58,260	SH		SOLE		55,080	0	3,180
BlackRock MuniAssets Fund	FIXD	09254j102	538	39,935	SH		SOLE		38,935	0	1,000
Calamos Convertible & High Inc	FIXD	12811p108	406	38,512	SH		SOLE		34,137	0	4,375
Eaton Vance Limited Duration I	FIXD	27828H105	544	39,637	SH		SOLE		35,387	0	4,250
Guggenheim Enhanced Short-Dura	FIXD	18383m654	388	7,740	SH		SOLE		7,390	0	350
PIMCO Corporate Opportunity Fu	FIXD	72201b101	307	21,466	SH		SOLE		18,866	0	2,600
PIMCO Enhanced Short Maturity	FIXD	72201r833	809	7,981	SH		SOLE		7,606	0	375
PowerShares CEF Income Composi	FIXD	73936q843	717	32,005	SH		SOLE		28,830	0	3,175
PowerShares Senior Loan Port	FIXD	73936q769	224	9,572	SH		SOLE		9,535	0	37
SPDR Short Term Municipal Bond	FIXD	78468r739	824	17,197	SH		SOLE		17,197	0	0
Schwab Intermediate-Term U.S.	FIXD	808524854	348	6,520	SH		SOLE		6,268	0	252
Schwab US Aggregate Bond ETF	FIXD	808524839	468	9,085	SH		SOLE		8,660	0	425
iShares 3-7 Year Treasury Bond	FIXD	464288661	728	5,939	SH		SOLE		5,939	0	0
iShares Barclays Aggregate Bon	FIXD	464287226	1,525	14,110	SH		SOLE		14,110	0	0
iShares Barclays TIPS Bond Fun	FIXD	464287176	312	2,753	SH		SOLE		2,718	0	35
iShares iBoxx Invest Grade Cor	FIXD	464287242	1,158	9,882	SH		SOLE		9,716	0	166
Gold Shares SPDR	CMDT	78463v107	284	2,592	SH		SOLE		2,222	0	370
iPath Dow Jones-AIG Commodity	CMDT	06738C778	362	14,927	SH		SOLE		14,927	0	0
iShares Gold Trust	CMDT	464285105	145	13,078	SH		SOLE		11,313	0	1,765
Claymore/Clear Global Timber I	REAL	18383q879	226	9,122	SH		SOLE		8,422	0	700
DJ Wilshire Int'l Real Estate	REAL	78463x863	463	12,829	SH		SOLE		11,314	0	1,515
SPDR Dow Jones Global Real Est	REAL	78463x749	969	20,684	SH		SOLE		20,646	0	38
iShares S&P Global Timber & Fo	REAL	464288174	361	6,742	SH		SOLE		6,137	0	605
ALPS Alerian MLP ETF	HEDG	00162q866	361	28,665	SH		SOLE		25,180	0	3,485