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	2,119	50,989	SH		SOLE		50,424	0	565
AbbVie Inc.	COM	00287y109	2,739	42,035	SH		SOLE		39,801	0	2,234
Abbott Labs	COM	002824100	534	12,026	SH		SOLE		10,552	0	1,474
Accenture	COM	g1151c101	815	6,801	SH		SOLE		6,321	0	480
Adient plc	COM	g0084w101	3,837	52,807	SH		SOLE		52,042	0	765
Air Products and Chemicals Inc	COM	009158106	211	1,561	SH		SOLE		785	0	776
Allegheny Technologies	COM	01741r102	4,190	233,283	SH		SOLE		228,583	0	4,700
Alliant Energy	COM	018802108	2,109	53,234	SH		SOLE		50,597	0	2,637
Alphabet Inc. Class A	COM	02079k305	1,237	1,459	SH		SOLE		1,101	0	358
Alphabet Inc. Class C	COM	02079k107	2,734	3,296	SH		SOLE		2,822	0	474
Altria Group	COM	02209s103	477	6,683	SH		SOLE		6,603	0	80
Amazon.com	COM	023135106	385	434	SH		SOLE		415	0	19
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	1,188	7,238	SH		SOLE		6,818	0	420
Apache Corporation	COM	037411105	299	5,825	SH		SOLE		5,445	0	380
Apple Inc.	COM	037833100	3,277	22,813	SH		SOLE		21,924	0	889
Arrow Electronics	COM	042735100	1,345	18,318	SH		SOLE		18,318	0	0
BP p.l.c.	COM	055622104	408	11,825	SH		SOLE		9,525	0	2,300
Bank of America	COM	060505104	2,221	94,143	SH		SOLE		94,043	0	100
Bank of Montreal	COM	063671101	491	6,560	SH		SOLE		6,150	0	410
Berkshire Hathaway cl. A (1/10	COM	084990175	1,249	500	SH		SOLE		500	0	0
Berkshire Hathaway cl. B	COM	084670702	1,288	7,727	SH		SOLE		7,542	0	185
Brady Corp.	COM	104674106	264	6,839	SH		SOLE		6,839	0	0
Bristol-Myers Squibb	COM	110122108	205	3,775	SH		SOLE		3,775	0	0
CVS Caremark Corp	COM	126650100	2,890	36,811	SH		SOLE		36,481	0	330
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Carnival Corporation	COM	143658300	1,406	23,865	SH		SOLE		23,865	0	0
Caterpillar Inc.	COM	149123101	404	4,355	SH		SOLE		4,005	0	350
Chesapeake Energy Corporation	COM	165167107	985	165,800	SH		SOLE		165,800	0	0
Chevron Corp.	COM	166764100	1,488	13,861	SH		SOLE		12,584	0	1,277
Cisco Systems Inc.	COM	17275R102	3,777	111,738	SH		SOLE		109,608	0	2,130
Citigroup Inc.	COM	172967424	4,685	78,321	SH		SOLE		76,841	0	1,480
Coca-Cola Co.	COM	191216100	347	8,171	SH		SOLE		5,616	0	2,555
Colgate-Palmolive Co.	COM	194162103	1,081	14,767	SH		SOLE		13,027	0	1,740
Deere & Co	COM	244199105	346	3,175	SH		SOLE		2,875	0	300
Dominion Resources Inc.	COM	25746U109	468	6,037	SH		SOLE		5,697	0	340
Dow Chemical Corp.	COM	260543103	638	10,042	SH		SOLE		10,042	0	0
Du Pont E.I. De Nemour & Co.	COM	263534109	480	5,975	SH		SOLE		5,730	0	245
Duke Energy	COM	26441C204	332	4,046	SH		SOLE		4,046	0	0
Emerson Electric Co.	COM	291011104	372	6,209	SH		SOLE		4,859	0	1,350
Exxon-Mobil	COM	30231G102	1,090	13,297	SH		SOLE		12,962	0	335
Facebook Inc.	COM	30303m102	1,143	8,046	SH		SOLE		7,476	0	570
Fastenal Co.	COM	311900104	404	7,843	SH		SOLE		6,823	0	1,020
Fidelity National Info Service	COM	31620m106	204	2,566	SH		SOLE		2,566	0	0
Fiserv Inc.	COM	337738108	2,525	21,896	SH		SOLE		21,306	0	590
General Dynamics	COM	369550108	558	2,980	SH		SOLE		2,580	0	400
General Electric Co.	COM	369604103	5,832	195,719	SH		SOLE		190,264	0	5,455
General Motors Corp.	COM	37045v100	1,345	38,030	SH		SOLE		37,930	0	100
Genuine Parts	COM	372460105	614	6,647	SH		SOLE		6,447	0	200
Gilead Sciences	COM	375558103	2,348	34,571	SH		SOLE		33,631	0	940
Growlife, Inc.	COM	39985x104	1	147,400	SH		SOLE		147,400	0	0
Harley Davidson	COM	412822108	304	5,026	SH		SOLE		4,826	0	200
Helen of Troy, Ltd	COM	g4388n106	1,630	17,305	SH		SOLE		16,745	0	560
Hershey Foods Corp	COM	427866108	224	2,050	SH		SOLE		2,000	0	50
Home Depot Inc.	COM	437076102	235	1,599	SH		SOLE		1,599	0	0
Intel Corp.	COM	458140100	2,474	68,577	SH		SOLE		65,902	0	2,675
Intl Business Mach. Corp.	COM	459200101	1,170	6,719	SH		SOLE		6,314	0	405
J.P. Morgan Chase	COM	46625H100	3,033	34,530	SH		SOLE		33,652	0	878
Johnson & Johnson	COM	478160104	3,757	30,162	SH		SOLE		28,052	0	2,110
Johnson Controls Intl plc	COM	G51502105	3,227	76,606	SH		SOLE		73,105	0	3,501
Kimberly-Clark Corp.	COM	494368103	1,608	12,219	SH		SOLE		12,099	0	120
Kohl's Corp.	COM	500255104	4,085	102,609	SH		SOLE		100,669	0	1,940
Lockheed Martin Corp.	COM	539830109	246	919	SH		SOLE		919	0	0
MGE Energy	COM	55277p104	2,156	33,177	SH		SOLE		33,027	0	150
MGIC Investment Corp.	COM	552848103	5,143	507,682	SH		SOLE		500,472	0	7,210
McDonald's	COM	580135101	985	7,597	SH		SOLE		7,412	0	185
Medtronic plc	COM	g5960l103	1,226	15,213	SH		SOLE		13,728	0	1,485
Merck & Co. Inc.	COM	58933y105	217	3,412	SH		SOLE		3,172	0	240
Metlife Inc	COM	59156R108	1,691	32,014	SH		SOLE		32,014	0	0
Microsoft Corp.	COM	594918104	3,076	46,704	SH		SOLE		44,294	0	2,410
Minnesota Mining & Manufacturi	COM	88579Y101	398	2,080	SH		SOLE		2,080	0	0
Modine Manufacturing	COM	607828100	3,383	277,320	SH		SOLE		272,895	0	4,425
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
NextEra Energy, Inc.	COM	65339f101	200	1,561	SH		SOLE		561	0	1,000
Nordstrom Inc.	COM	655664100	514	11,045	SH		SOLE		10,120	0	925
Novartis AG	COM	66987v109	929	12,505	SH		SOLE		11,880	0	625
Occidental Petroleum	COM	674599105	414	6,540	SH		SOLE		6,540	0	0
Olin Corp	COM	680665205	4,005	121,839	SH		SOLE		119,444	0	2,395
Oracle Corp.	COM	68389X105	1,007	22,565	SH		SOLE		20,415	0	2,150
Oshkosh Corp	COM	688239201	219	3,200	SH		SOLE		3,200	0	0
Owens-Illinois, Inc.	COM	690768403	5,035	247,040	SH		SOLE		243,930	0	3,110
Paychex	COM	704326107	503	8,532	SH		SOLE		8,412	0	120
Pepsico Inc.	COM	713448108	1,731	15,476	SH		SOLE		14,361	0	1,115
Pfizer Inc.	COM	717081103	1,428	41,750	SH		SOLE		41,000	0	750
Philip Morris International	COM	718172109	450	3,988	SH		SOLE		3,813	0	175
Praxair	COM	74005P104	473	3,990	SH		SOLE		3,915	0	75
Procter & Gamble Co.	COM	742718109	1,632	18,166	SH		SOLE		16,495	0	1,671
Prudential Financial, Inc.	COM	744320102	2,495	23,392	SH		SOLE		22,587	0	805
Quad/Graphics, Inc.	COM	747301109	1,277	50,612	SH		SOLE		50,537	0	75
Qualcomm Inc.	COM	747525103	1,104	19,250	SH		SOLE		18,200	0	1,050
RPM Inc.	COM	749685103	1,846	33,544	SH		SOLE		31,564	0	1,980
Range Resources	COM	75281a109	2,524	86,735	SH		SOLE		85,700	0	1,035
Regal-Beloit Corp.	COM	758750103	2,277	30,106	SH		SOLE		29,026	0	1,080
Rockwell Automation	COM	773903109	500	3,213	SH		SOLE		3,213	0	0
Samex Mining Corp.	COM	795912104	0	65,000	SH		SOLE		65,000	0	0
Sandspring Resources Ltd.	COM	800110504	7	17,000	SH		SOLE		17,000	0	0
Schlumberger Ltd.	COM	806857108	852	10,910	SH		SOLE		9,680	0	1,230
Sprott Inc.	COM	852066109	90	53,700	SH		SOLE		19,200	0	34,500
Stanley Black & Decker, Inc.	COM	854502101	1,598	12,028	SH		SOLE		11,773	0	255
Target Corp.	COM	87612E106	471	8,538	SH		SOLE		8,538	0	0
Teva Pharmaceutical Ind.	COM	881624209	1,748	54,460	SH		SOLE		52,060	0	2,400
U.S. Bancorp	COM	902973304	564	10,942	SH		SOLE		10,132	0	810
UnitedHealth Group Inc	COM	91324p102	693	4,228	SH		SOLE		4,188	0	40
VF Corp	COM	918204108	1,009	18,355	SH		SOLE		17,140	0	1,215
Vectren Corp.	COM	92240G101	271	4,624	SH		SOLE		0	0	4,624
Verizon	COM	92343V104	4,159	85,314	SH		SOLE		83,404	0	1,910
WD 40 Company	COM	929236107	207	1,900	SH		SOLE		1,900	0	0
WEC Energy Group, Inc.	COM	92939u106	2,051	33,824	SH		SOLE		31,419	0	2,405
Wal-Mart Stores Inc.	COM	931142103	271	3,755	SH		SOLE		3,705	0	50
Walgreens Boots Alliance	COM	931427108	3,275	39,429	SH		SOLE		20,505	0	18,924
Walt Disney Productions	COM	254687106	546	4,812	SH		SOLE		4,812	0	0
Weatherford International	COM	g48833100	3,444	517,880	SH		SOLE		511,300	0	6,580
Wells Fargo & Co.	COM	949746101	750	13,470	SH		SOLE		12,215	0	1,255
YUM! Brands, Inc.	COM	988498101	202	3,160	SH		SOLE		2,940	0	220
Dow Jones Utility Index (iShar	ETF	464287697	210	1,635	SH		SOLE		1,635	0	0
Duff & Phelps Select Income Fu	ETF	23325P104	388	35,891	SH		SOLE		33,866	0	2,025
Guggenheim S&P 500 Pure Growth	ETF	78355w403	780	8,692	SH		SOLE		8,623	0	69
Madison Covered Call&Equity St	ETF	557437100	505	62,932	SH		SOLE		58,882	0	4,050
MidCap SPDRs	ETF	78467y107	363	1,161	SH		SOLE		1,161	0	0
NASDAQ 100 Index Tracker	ETF	73935A104	282	2,129	SH		SOLE		2,129	0	0
ProShares Short Russell2000	ETF	74648a210	300	6,300	SH		SOLE		6,300	0	0
S&P 500/Barra Value (iShares)	ETF	464287408	228	2,188	SH		SOLE		1,628	0	560
S&P Dep Receipts	ETF	78462f103	598	2,535	SH		SOLE		2,535	0	0
SPDR Dow Jones Industrial Aver	ETF	78467x109	444	2,150	SH		SOLE		2,150	0	0
Schwab U.S. Large-Cap Growth E	ETF	808524300	356	5,888	SH		SOLE		5,438	0	450
Schwab U.S. Large-Cap Value ET	ETF	808524409	355	7,138	SH		SOLE		7,078	0	60
Schwab U.S. Mid Cap ETF	ETF	808524508	367	7,759	SH		SOLE		7,594	0	165
Schwab US Dividend Equity ETF	ETF	808524797	448	10,044	SH		SOLE		9,674	0	370
Vanguard High Dividend Yield I	ETF	921946406	476	6,131	SH		SOLE		6,131	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	3,539	36,974	SH		SOLE		36,974	0	0
Vanguard Mid Cap ETF	ETF	922908629	1,086	7,801	SH		SOLE		7,801	0	0
Vanguard Value ETF	ETF	922908744	1,497	15,695	SH		SOLE		15,695	0	0
iShares Russell 1000 Growth ET	ETF	464287614	354	3,113	SH		SOLE		3,113	0	0
iShares Russell 1000 Value ETF	ETF	464287598	286	2,488	SH		SOLE		2,488	0	0
iShares Russell Growth Midcap	ETF	464287481	276	2,664	SH		SOLE		2,664	0	0
iShares Russell Midcap Value I	ETF	464287473	258	3,106	SH		SOLE		3,086	0	20
S&P 600/Barra Growth Index (iS	SMLC	464287887	1,496	9,774	SH		SOLE		9,253	0	521
S&P 600/Barra Value Index (iSh	SMLC	464287879	1,430	10,315	SH		SOLE		9,995	0	320
Schwab U.S. Small-Cap ETF	SMLC	808524607	464	7,373	SH		SOLE		7,189	0	184
Vanguard Small Cap ETF	SMLC	922908751	508	3,811	SH		SOLE		3,811	0	0
WisdomTree SmallCap Dividend E	SMLC	97717w604	314	3,897	SH		SOLE		3,897	0	0
iShares S&P SmallCap 600 Index	SMLC	464287804	1,253	18,119	SH		SOLE		18,119	0	0
Europe/Australia/Far-East Inde	INTL	464287465	439	7,053	SH		SOLE		6,189	0	864
MSCI Emerging Markets Index (i	INTL	464287234	467	11,845	SH		SOLE		10,665	0	1,180
SPDR S&P International Dividen	INTL	78463X772	244	6,404	SH		SOLE		6,189	0	215
Schwab Emerging Markets Equity	INTL	808524706	408	17,009	SH		SOLE		16,540	0	469
Schwab International Equity ET	INTL	808524805	693	23,206	SH		SOLE		21,835	0	1,371
Vanguard Emerging Markets Stoc	INTL	922042858	2,145	53,991	SH		SOLE		53,641	0	350
Vanguard FTSE Developed Market	INTL	921943858	3,596	91,505	SH		SOLE		89,335	0	2,170
Wisdom Tree Japan Hedged Equit	INTL	97717W851	699	13,812	SH		SOLE		13,127	0	685
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	1,124	22,602	SH		SOLE		21,977	0	625
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	560	13,706	SH		SOLE		13,281	0	425
WisdomTree Int'l Hedged Divide	INTL	97717x594	476	16,731	SH		SOLE		16,106	0	625
iShares MSCI All Country Asia	INTL	464288182	394	6,267	SH		SOLE		5,740	0	527
BlackRock Int. Duration Munici	FIXD	09253X102	1,048	75,700	SH		SOLE		72,520	0	3,180
BlackRock MuniAssets Fund	FIXD	09254j102	847	59,835	SH		SOLE		58,835	0	1,000
Calamos Convertible & High Inc	FIXD	12811p108	457	40,087	SH		SOLE		35,712	0	4,375
Eaton Vance Limited Duration I	FIXD	27828H105	629	45,462	SH		SOLE		41,212	0	4,250
Guggenheim Enhanced Short-Dura	FIXD	18383m654	497	9,890	SH		SOLE		8,290	0	1,600
Nuveen Dividend Advantage Muni	FIXD	67071l106	176	12,007	SH		SOLE		12,007	0	0
Nuveen Municipal Value Fund In	FIXD	670928100	273	27,900	SH		SOLE		27,400	0	500
PIMCO Corporate Opportunity Fu	FIXD	72201b101	591	37,616	SH		SOLE		35,016	0	2,600
PIMCO Enhanced Short Maturity	FIXD	72201r833	906	8,912	SH		SOLE		8,287	0	625
PowerShares CEF Income Composi	FIXD	73936q843	848	36,704	SH		SOLE		33,529	0	3,175
PowerShares Senior Loan Port	FIXD	73936q769	210	9,007	SH		SOLE		8,970	0	37
Putnam Master Intrm Inc Tr	FIXD	746909100	56	11,882	SH		SOLE		11,882	0	0
SPDR Nuveen S&P High Yield Mun	FIXD	78464A284	295	5,219	SH		SOLE		4,866	0	353
SPDR Short Term Municipal Bond	FIXD	78468r739	946	19,528	SH		SOLE		19,528	0	0
Schwab Intermediate-Term U.S.	FIXD	808524854	391	7,284	SH		SOLE		7,032	0	252
Schwab US Aggregate Bond ETF	FIXD	808524839	637	12,293	SH		SOLE		11,438	0	855
Templeton Global Income Fund	FIXD	880198106	340	51,150	SH		SOLE		17,600	0	33,550
Vanguard Intermediate-Term Bon	FIXD	921937819	469	5,605	SH		SOLE		1,680	0	3,925
Vanguard Short-Term Bond ETF	FIXD	921937827	433	5,435	SH		SOLE		2,315	0	3,120
iShares 3-7 Year Treasury Bond	FIXD	464288661	1,111	9,028	SH		SOLE		9,028	0	0
iShares Barclays 1-3 Yr Credit	FIXD	464288646	240	2,280	SH		SOLE		2,160	0	120
iShares Barclays Aggregate Bon	FIXD	464287226	2,698	24,867	SH		SOLE		24,867	0	0
iShares Barclays TIPS Bond Fun	FIXD	464287176	619	5,402	SH		SOLE		5,167	0	235
iShares iBoxx Invest Grade Cor	FIXD	464287242	2,425	20,563	SH		SOLE		20,067	0	496
Central Fund of Canada Limited	CMDT	153501101	476	37,020	SH		SOLE		6,725	0	30,295
Gold Shares SPDR	CMDT	78463v107	661	5,567	SH		SOLE		5,197	0	370
iPath Dow Jones-AIG Commodity	CMDT	06738C778	503	21,379	SH		SOLE		21,379	0	0
iShares Gold Trust	CMDT	464285105	195	16,232	SH		SOLE		14,167	0	2,065
Claymore/Clear Global Timber I	REAL	18383q879	249	9,462	SH		SOLE		8,762	0	700
DJ Wilshire Int'l Real Estate	REAL	78463x863	565	15,109	SH		SOLE		12,494	0	2,615
SPDR Dow Jones Global Real Est	REAL	78463x749	1,378	29,265	SH		SOLE		28,677	0	588
Weyerhaeuser Co.	REAL	962166104	266	7,826	SH		SOLE		7,698	0	128
iShares S&P Global Timber & Fo	REAL	464288174	461	8,002	SH		SOLE		6,787	0	1,215
ALPS Alerian MLP ETF	HEDG	00162q866	424	33,322	SH		SOLE		29,537	0	3,785