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	1,985	50,680	SH		SOLE		50,315	0	365
AbbVie Inc.	COM	00287y109	3,974	44,718	SH		SOLE		43,723	0	995
Abbott Labs	COM	002824100	623	11,678	SH		SOLE		11,168	0	510
Accenture	COM	g1151c101	843	6,244	SH		SOLE		5,834	0	410
Adient plc	COM	g0084w101	4,544	54,106	SH		SOLE		53,223	0	883
Allegheny Technologies	COM	01741r102	5,809	243,063	SH		SOLE		238,313	0	4,750
Alliant Energy	COM	018802108	2,025	48,719	SH		SOLE		47,712	0	1,007
Alphabet Inc. Class A	COM	02079k305	1,405	1,443	SH		SOLE		1,115	0	328
Alphabet Inc. Class C	COM	02079k107	3,288	3,428	SH		SOLE		2,986	0	442
Altria Group	COM	02209s103	306	4,823	SH		SOLE		4,743	0	80
Amazon.com	COM	023135106	402	418	SH		SOLE		399	0	19
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	1,286	6,898	SH		SOLE		6,463	0	435
Apache Corporation	COM	037411105	1,358	29,645	SH		SOLE		29,070	0	575
Apple Inc.	COM	037833100	3,366	21,839	SH		SOLE		21,090	0	749
Arrow Electronics	COM	042735100	1,443	17,943	SH		SOLE		17,943	0	0
BP p.l.c.	COM	055622104	456	11,875	SH		SOLE		11,725	0	150
Bank of America	COM	060505104	2,352	92,833	SH		SOLE		92,733	0	100
Bank of Montreal	COM	063671101	399	5,272	SH		SOLE		5,162	0	110
Berkshire Hathaway cl. A (1/10	COM	084990175	824	300	SH		SOLE		300	0	0
Berkshire Hathaway cl. B	COM	084670702	1,393	7,597	SH		SOLE		7,412	0	185
Bristol-Myers Squibb	COM	110122108	241	3,776	SH		SOLE		3,776	0	0
CVS Caremark Corp	COM	126650100	3,392	41,709	SH		SOLE		40,979	0	730
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Caterpillar Inc.	COM	149123101	531	4,255	SH		SOLE		4,255	0	0
Chesapeake Energy	COM	165167107	706	164,100	SH		SOLE		164,100	0	0
Chevron Corp.	COM	166764100	1,598	13,597	SH		SOLE		12,767	0	830
Cisco Systems Inc.	COM	17275R102	3,973	118,145	SH		SOLE		116,515	0	1,630
Citigroup Inc.	COM	172967424	5,028	69,118	SH		SOLE		67,668	0	1,450
Coca-Cola Co.	COM	191216100	304	6,758	SH		SOLE		6,203	0	555
Colgate-Palmolive Co.	COM	194162103	1,014	13,917	SH		SOLE		13,397	0	520
Deere & Co	COM	244199105	380	3,025	SH		SOLE		2,825	0	200
Diebold, Incorporated	COM	253651103	1,275	55,820	SH		SOLE		55,820	0	0
Dominion Resources Inc.	COM	25746U109	461	5,987	SH		SOLE		5,647	0	340
DowDuPont Inc.	COM	26078j100	3,260	47,094	SH		SOLE		46,781	0	313
Duke Energy	COM	26441C204	334	3,978	SH		SOLE		3,978	0	0
Emerson Electric Co.	COM	291011104	225	3,586	SH		SOLE		3,336	0	250
Exxon-Mobil	COM	30231G102	1,088	13,268	SH		SOLE		12,933	0	335
Facebook Inc.	COM	30303m102	1,442	8,439	SH		SOLE		7,869	0	570
Fastenal Co.	COM	311900104	321	7,043	SH		SOLE		6,743	0	300
Fidelity National Info Service	COM	31620m106	240	2,566	SH		SOLE		2,566	0	0
Fiserv Inc.	COM	337738108	2,770	21,481	SH		SOLE		20,911	0	570
Fred's, Inc.	COM	356108100	85	13,200	SH		SOLE		7,600	0	5,600
General Dynamics	COM	369550108	505	2,455	SH		SOLE		2,430	0	25
General Electric Co.	COM	369604103	4,988	206,304	SH		SOLE		200,549	0	5,755
Genuine Parts	COM	372460105	587	6,137	SH		SOLE		5,937	0	200
Gilead Sciences	COM	375558103	2,877	35,507	SH		SOLE		34,767	0	740
Growlife, Inc.	COM	39985x104	1	147,400	SH		SOLE		147,400	0	0
Harley Davidson	COM	412822108	242	5,026	SH		SOLE		4,826	0	200
Helen of Troy, Ltd	COM	g4388n106	1,790	18,475	SH		SOLE		17,915	0	560
Hershey Foods Corp	COM	427866108	224	2,050	SH		SOLE		2,000	0	50
Home Depot Inc.	COM	437076102	304	1,859	SH		SOLE		1,859	0	0
Intel Corp.	COM	458140100	2,571	67,519	SH		SOLE		66,244	0	1,275
Intl Business Mach. Corp.	COM	459200101	920	6,344	SH		SOLE		6,139	0	205
J.P. Morgan Chase	COM	46625H100	3,478	36,420	SH		SOLE		36,159	0	261
Johnson & Johnson	COM	478160104	3,767	28,973	SH		SOLE		28,038	0	935
Johnson Controls Intl plc	COM	G51502105	3,179	78,896	SH		SOLE		76,120	0	2,776
Kimberly-Clark Corp.	COM	494368103	1,440	12,240	SH		SOLE		12,120	0	120
Kohl's Corp.	COM	500255104	4,720	103,406	SH		SOLE		101,866	0	1,540
Lockheed Martin Corp.	COM	539830109	285	919	SH		SOLE		919	0	0
MGE Energy	COM	55277p104	2,110	32,657	SH		SOLE		32,507	0	150
MGIC Investment Corp.	COM	552848103	6,285	501,612	SH		SOLE		494,402	0	7,210
McDonald's	COM	580135101	1,154	7,367	SH		SOLE		7,182	0	185
Medtronic plc	COM	g5960l103	1,460	18,779	SH		SOLE		17,814	0	965
Merck & Co. Inc.	COM	58933y105	218	3,412	SH		SOLE		3,172	0	240
Metlife Inc	COM	59156R108	1,635	31,475	SH		SOLE		31,475	0	0
Microsoft Corp.	COM	594918104	3,404	45,702	SH		SOLE		44,262	0	1,440
Minnesota Mining & Manufacturi	COM	88579Y101	432	2,060	SH		SOLE		2,060	0	0
Modine Manufacturing	COM	607828100	4,791	248,898	SH		SOLE		244,523	0	4,375
NVidia Corp	COM	67066G104	203	1,138	SH		SOLE		1,138	0	0
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
Nordstrom Inc.	COM	655664100	454	9,635	SH		SOLE		9,160	0	475
Novartis AG	COM	66987v109	1,027	11,960	SH		SOLE		11,735	0	225
Occidental Petroleum	COM	674599105	405	6,301	SH		SOLE		6,301	0	0
Olin Corp	COM	680665205	4,271	124,714	SH		SOLE		122,894	0	1,820
Oracle Corp.	COM	68389X105	1,057	21,855	SH		SOLE		20,705	0	1,150
Oshkosh Corp	COM	688239201	264	3,200	SH		SOLE		3,200	0	0
Owens-Illinois, Inc.	COM	690768403	6,012	238,955	SH		SOLE		235,695	0	3,260
Paychex	COM	704326107	453	7,560	SH		SOLE		7,475	0	85
Pepsico Inc.	COM	713448108	1,646	14,771	SH		SOLE		14,156	0	615
Pfizer Inc.	COM	717081103	1,349	37,782	SH		SOLE		37,182	0	600
Philip Morris International	COM	718172109	348	3,138	SH		SOLE		2,963	0	175
Praxair	COM	74005P104	521	3,728	SH		SOLE		3,653	0	75
Procter & Gamble Co.	COM	742718109	1,476	16,222	SH		SOLE		15,757	0	465
Prudential Financial, Inc.	COM	744320102	2,640	24,831	SH		SOLE		24,001	0	830
Quad/Graphics, Inc.	COM	747301109	2,435	107,696	SH		SOLE		105,896	0	1,800
Qualcomm Inc.	COM	747525103	1,098	21,171	SH		SOLE		20,506	0	665
RPM Inc.	COM	749685103	1,616	31,471	SH		SOLE		30,491	0	980
Range Resources	COM	75281a109	3,885	198,535	SH		SOLE		197,100	0	1,435
Regal-Beloit Corp.	COM	758750103	2,471	31,283	SH		SOLE		30,503	0	780
Rockwell Automation	COM	773903109	549	3,080	SH		SOLE		3,080	0	0
Samex Mining Corp.	COM	795912104	0	40,000	SH		SOLE		40,000	0	0
Sandspring Resources Ltd.	COM	800110504	5	19,000	SH		SOLE		19,000	0	0
Schlumberger Ltd.	COM	806857108	741	10,625	SH		SOLE		9,595	0	1,030
Sprott Inc.	COM	852066109	90	52,700	SH		SOLE		21,200	0	31,500
Stanley Black & Decker, Inc.	COM	854502101	1,834	12,149	SH		SOLE		11,894	0	255
Target Corp.	COM	87612E106	465	7,879	SH		SOLE		7,879	0	0
Tesla Motors, Inc.	COM	88160R101	238	699	SH		SOLE		699	0	0
Teva Pharmaceutical Ind.	COM	881624209	313	17,764	SH		SOLE		15,464	0	2,300
U.S. Bancorp	COM	902973304	606	11,300	SH		SOLE		10,850	0	450
UnitedHealth Group Inc	COM	91324p102	773	3,949	SH		SOLE		3,909	0	40
VF Corp	COM	918204108	1,150	18,085	SH		SOLE		16,795	0	1,290
Vectren Corp.	COM	92240G101	304	4,624	SH		SOLE		4,624	0	0
Verizon	COM	92343V104	4,339	87,683	SH		SOLE		85,848	0	1,835
WD 40 Company	COM	929236107	213	1,900	SH		SOLE		1,900	0	0
WEC Energy Group, Inc.	COM	92939u106	2,095	33,365	SH		SOLE		31,580	0	1,785
Wal-Mart Stores Inc.	COM	931142103	290	3,705	SH		SOLE		3,655	0	50
Walgreens Boots Alliance	COM	931427108	3,046	39,443	SH		SOLE		38,843	0	600
Walt Disney Productions	COM	254687106	492	4,987	SH		SOLE		4,987	0	0
Weatherford International	COM	g48833100	2,514	548,940	SH		SOLE		540,760	0	8,180
Wells Fargo & Co.	COM	949746101	687	12,453	SH		SOLE		11,678	0	775
YUM! Brands, Inc.	COM	988498101	230	3,120	SH		SOLE		2,940	0	180
Duff & Phelps Select Income Fu	ETF	23325P104	396	34,468	SH		SOLE		32,443	0	2,025
Guggenheim S&P 500 Pure Growth	ETF	78355w403	914	9,134	SH		SOLE		9,065	0	69
Madison Covered Call&Equity St	ETF	557437100	474	60,432	SH		SOLE		57,882	0	2,550
MidCap SPDRs	ETF	78467y107	389	1,193	SH		SOLE		1,193	0	0
NASDAQ 100 Index Tracker	ETF	73935A104	310	2,129	SH		SOLE		2,129	0	0
S&P 500 Index (iShares)	ETF	464287200	202	799	SH		SOLE		799	0	0
S&P 500/Barra Growth (iShares)	ETF	464287309	202	1,409	SH		SOLE		1,024	0	385
S&P 500/Barra Value (iShares)	ETF	464287408	239	2,218	SH		SOLE		1,658	0	560
S&P Dep Receipts	ETF	78462f103	541	2,153	SH		SOLE		2,153	0	0
SPDR Dow Jones Industrial Aver	ETF	78467x109	481	2,150	SH		SOLE		2,150	0	0
Schwab U.S. Large-Cap Growth E	ETF	808524300	348	5,273	SH		SOLE		4,823	0	450
Schwab U.S. Large-Cap Value ET	ETF	808524409	441	8,507	SH		SOLE		8,447	0	60
Schwab U.S. Mid Cap ETF	ETF	808524508	388	7,744	SH		SOLE		7,579	0	165
Schwab US Dividend Equity ETF	ETF	808524797	410	8,754	SH		SOLE		8,384	0	370
Vanguard High Dividend Yield I	ETF	921946406	429	5,295	SH		SOLE		5,295	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	3,919	37,427	SH		SOLE		37,427	0	0
Vanguard Mid Cap ETF	ETF	922908629	1,137	7,736	SH		SOLE		7,736	0	0
Vanguard Value ETF	ETF	922908744	2,102	21,061	SH		SOLE		21,061	0	0
iShares Russell 1000 Growth ET	ETF	464287614	363	2,904	SH		SOLE		2,904	0	0
iShares Russell 1000 Value ETF	ETF	464287598	314	2,649	SH		SOLE		2,649	0	0
iShares Russell Growth Midcap	ETF	464287481	291	2,574	SH		SOLE		2,574	0	0
iShares Russell Midcap Value I	ETF	464287473	265	3,123	SH		SOLE		3,103	0	20
S&P 600/Barra Growth Index (iS	SMLC	464287887	1,573	9,561	SH		SOLE		9,120	0	441
S&P 600/Barra Value Index (iSh	SMLC	464287879	1,500	10,112	SH		SOLE		9,792	0	320
Schwab U.S. Small-Cap ETF	SMLC	808524607	708	10,505	SH		SOLE		10,295	0	210
Vanguard Small Cap ETF	SMLC	922908751	525	3,712	SH		SOLE		3,712	0	0
WisdomTree SmallCap Dividend E	SMLC	97717w604	314	3,735	SH		SOLE		3,735	0	0
iShares S&P SmallCap 600 Index	SMLC	464287804	1,913	25,774	SH		SOLE		25,774	0	0
China-H FTSE/Xinhua 25 Index (	INTL	464287184	210	4,777	SH		SOLE		4,177	0	600
Europe/Australia/Far-East Inde	INTL	464287465	494	7,221	SH		SOLE		6,957	0	264
MSCI Emerging Markets Index (i	INTL	464287234	530	11,836	SH		SOLE		11,381	0	455
SPDR S&P International Dividen	INTL	78463X772	242	5,994	SH		SOLE		5,679	0	315
Schwab Emerging Markets Equity	INTL	808524706	626	23,260	SH		SOLE		22,791	0	469
Schwab International Equity ET	INTL	808524805	1,143	34,147	SH		SOLE		32,776	0	1,371
Vanguard Emerging Markets Stoc	INTL	922042858	2,836	65,101	SH		SOLE		64,601	0	500
Vanguard FTSE Developed Market	INTL	921943858	5,096	117,393	SH		SOLE		115,073	0	2,320
Wisdom Tree Japan Hedged Equit	INTL	97717W851	783	14,307	SH		SOLE		13,622	0	685
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	1,342	24,651	SH		SOLE		23,926	0	725
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	679	15,796	SH		SOLE		15,221	0	575
WisdomTree Int'l Hedged Divide	INTL	97717x594	540	17,609	SH		SOLE		16,984	0	625
iShares MSCI All Country Asia	INTL	464288182	445	6,157	SH		SOLE		5,630	0	527
BlackRock Int. Duration Munici	FIXD	09253X102	1,097	77,385	SH		SOLE		74,245	0	3,140
BlackRock MuniAssets Fund	FIXD	09254j102	928	61,508	SH		SOLE		60,508	0	1,000
Calamos Convertible & High Inc	FIXD	12811p108	483	40,612	SH		SOLE		36,237	0	4,375
Eaton Vance Limited Duration I	FIXD	27828H105	623	44,387	SH		SOLE		40,437	0	3,950
Guggenheim Enhanced Short-Dura	FIXD	18383m654	515	10,215	SH		SOLE		8,615	0	1,600
Nuveen Dividend Advantage Muni	FIXD	67071l106	174	11,285	SH		SOLE		11,285	0	0
Nuveen Municipal Value Fund In	FIXD	670928100	306	29,900	SH		SOLE		29,400	0	500
PIMCO Corporate Opportunity Fu	FIXD	72201b101	634	37,766	SH		SOLE		35,166	0	2,600
PIMCO Enhanced Short Maturity	FIXD	72201r833	1,077	10,577	SH		SOLE		9,952	0	625
PowerShares CEF Income Composi	FIXD	73936q843	888	36,985	SH		SOLE		33,810	0	3,175
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	325	5,692	SH		SOLE		5,339	0	353
SPDR Short Term Municipal Bond	FIXD	78468r739	1,006	20,702	SH		SOLE		20,702	0	0
Schwab Intermediate-Term U.S.	FIXD	808524854	451	8,372	SH		SOLE		8,116	0	256
Schwab US Aggregate Bond ETF	FIXD	808524839	718	13,713	SH		SOLE		12,850	0	863
Templeton Global Income Fund	FIXD	880198106	416	61,704	SH		SOLE		27,554	0	34,150
Vanguard Intermediate-Term Bon	FIXD	921937819	508	5,995	SH		SOLE		2,000	0	3,995
Vanguard Short-Term Bond ETF	FIXD	921937827	482	6,040	SH		SOLE		2,865	0	3,175
iShares 3-7 Year Treasury Bond	FIXD	464288661	1,041	8,428	SH		SOLE		8,428	0	0
iShares Barclays 1-3 Yr Credit	FIXD	464288646	230	2,186	SH		SOLE		2,066	0	120
iShares Barclays Aggregate Bon	FIXD	464287226	2,882	26,301	SH		SOLE		26,301	0	0
iShares Barclays TIPS Bond Fun	FIXD	464287176	922	8,122	SH		SOLE		6,327	0	1,795
iShares iBoxx Invest Grade Cor	FIXD	464287242	2,516	20,754	SH		SOLE		20,258	0	496
Central Fund of Canada Limited	CMDT	153501101	478	37,720	SH		SOLE		8,325	0	29,395
Gold Shares SPDR	CMDT	78463v107	694	5,707	SH		SOLE		5,337	0	370
iPath Dow Jones-AIG Commodity	CMDT	06738C778	481	20,684	SH		SOLE		20,684	0	0
iShares Gold Trust	CMDT	464285105	235	19,118	SH		SOLE		17,053	0	2,065
Claymore/Clear Global Timber I	REAL	18383q879	282	9,362	SH		SOLE		8,662	0	700
DJ Wilshire Int'l Real Estate	REAL	78463x863	588	15,314	SH		SOLE		12,649	0	2,665
SPDR Dow Jones Global Real Est	REAL	78463x749	1,553	32,516	SH		SOLE		31,254	0	1,262
Weyerhaeuser Co.	REAL	962166104	240	7,066	SH		SOLE		7,018	0	48
iShares S&P Global Timber & Fo	REAL	464288174	514	7,697	SH		SOLE		6,612	0	1,085
ALPS Alerian MLP ETF	HEDG	00162q866	392	34,899	SH		SOLE		31,114	0	3,785
ProShares S&P 500 Index Invers	HEDG	74347r503	1,789	55,600	SH		SOLE		55,500	0	100
ProShares Short Russell2000	HEDG	74648a210	275	6,300	SH		SOLE		6,300	0	0