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	1,900	48,878	SH		SOLE		48,513	0	365
AbbVie Inc.	COM	00287y109	4,291	44,371	SH		SOLE		43,376	0	995
Abbott Labs	COM	002824100	666	11,678	SH		SOLE		11,168	0	510
Accenture	COM	g1151c101	907	5,924	SH		SOLE		5,539	0	385
Adient plc	COM	g0084w101	4,060	51,585	SH		SOLE		50,702	0	883
Allegheny Technologies	COM	01741r102	4,921	203,869	SH		SOLE		199,919	0	3,950
Alliant Energy	COM	018802108	2,041	47,906	SH		SOLE		46,899	0	1,007
Alphabet Inc. Class A	COM	02079k305	1,429	1,357	SH		SOLE		1,033	0	324
Alphabet Inc. Class C	COM	02079k107	3,569	3,411	SH		SOLE		2,969	0	442
Altria Group	COM	02209s103	274	3,836	SH		SOLE		3,756	0	80
Amazon.com	COM	023135106	463	396	SH		SOLE		377	0	19
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	1,180	6,783	SH		SOLE		6,348	0	435
Apache Corporation	COM	037411105	1,289	30,534	SH		SOLE		29,859	0	675
Apple Inc.	COM	037833100	3,628	21,439	SH		SOLE		20,715	0	724
Arrow Electronics	COM	042735100	1,300	16,168	SH		SOLE		16,168	0	0
BP p.l.c.	COM	055622104	430	10,225	SH		SOLE		10,075	0	150
Bank of America	COM	060505104	2,724	92,293	SH		SOLE		92,193	0	100
Bank of Montreal	COM	063671101	419	5,237	SH		SOLE		5,127	0	110
Berkshire Hathaway cl. A (1/10	COM	084990175	893	300	SH		SOLE		300	0	0
Berkshire Hathaway cl. B	COM	084670702	1,475	7,440	SH		SOLE		7,255	0	185
Bristol-Myers Squibb	COM	110122108	230	3,750	SH		SOLE		3,750	0	0
CVS Caremark Corp	COM	126650100	2,931	40,422	SH		SOLE		39,742	0	680
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Caterpillar Inc.	COM	149123101	686	4,355	SH		SOLE		4,355	0	0
Chesapeake Energy	COM	165167107	745	188,100	SH		SOLE		188,100	0	0
Chevron Corp.	COM	166764100	1,670	13,337	SH		SOLE		12,507	0	830
Cigna Corp.	COM	125509109	203	1,000	SH		SOLE		1,000	0	0
Cisco Systems Inc.	COM	17275R102	4,489	117,214	SH		SOLE		115,584	0	1,630
Citigroup Inc.	COM	172967424	5,209	70,009	SH		SOLE		68,559	0	1,450
Coca-Cola Co.	COM	191216100	305	6,658	SH		SOLE		6,103	0	555
Colgate-Palmolive Co.	COM	194162103	1,003	13,292	SH		SOLE		12,772	0	520
Deere & Co	COM	244199105	452	2,889	SH		SOLE		2,889	0	0
Diebold, Incorporated	COM	253651103	913	55,820	SH		SOLE		55,820	0	0
Dominion Resources Inc.	COM	25746U109	448	5,522	SH		SOLE		5,232	0	290
DowDuPont Inc.	COM	26078j100	1,118	15,693	SH		SOLE		15,380	0	313
Duke Energy	COM	26441C204	322	3,828	SH		SOLE		3,828	0	0
Emerson Electric Co.	COM	291011104	248	3,561	SH		SOLE		3,311	0	250
Exxon-Mobil	COM	30231G102	1,103	13,183	SH		SOLE		12,933	0	250
Facebook Inc.	COM	30303m102	1,484	8,408	SH		SOLE		7,863	0	545
Fastenal Co.	COM	311900104	339	6,193	SH		SOLE		5,893	0	300
Fidelity National Info Service	COM	31620m106	211	2,246	SH		SOLE		2,246	0	0
Fiserv Inc.	COM	337738108	2,758	21,031	SH		SOLE		20,461	0	570
Fred's, Inc.	COM	356108100	57	14,100	SH		SOLE		8,200	0	5,900
General Dynamics	COM	369550108	489	2,405	SH		SOLE		2,380	0	25
General Electric Co.	COM	369604103	3,474	199,056	SH		SOLE		193,221	0	5,835
Genuine Parts	COM	372460105	574	6,037	SH		SOLE		5,837	0	200
Gilead Sciences	COM	375558103	2,441	34,069	SH		SOLE		33,379	0	690
Growlife, Inc.	COM	39985x104	5	147,400	SH		SOLE		147,400	0	0
Harley Davidson	COM	412822108	248	4,876	SH		SOLE		4,676	0	200
Helen of Troy, Ltd	COM	g4388n106	1,906	19,784	SH		SOLE		19,179	0	605
Hershey Foods Corp	COM	427866108	233	2,050	SH		SOLE		2,000	0	50
Home Depot Inc.	COM	437076102	350	1,849	SH		SOLE		1,849	0	0
Intel Corp.	COM	458140100	3,063	66,353	SH		SOLE		65,078	0	1,275
Intl Business Mach. Corp.	COM	459200101	975	6,353	SH		SOLE		6,148	0	205
J.P. Morgan Chase	COM	46625H100	3,975	37,174	SH		SOLE		36,913	0	261
Johnson & Johnson	COM	478160104	3,981	28,494	SH		SOLE		27,559	0	935
Johnson Controls Intl plc	COM	G51502105	3,061	80,318	SH		SOLE		76,967	0	3,351
Kimberly-Clark Corp.	COM	494368103	1,508	12,496	SH		SOLE		12,376	0	120
Kohl's Corp.	COM	500255104	5,562	102,554	SH		SOLE		100,964	0	1,590
Lockheed Martin Corp.	COM	539830109	295	919	SH		SOLE		919	0	0
MGE Energy	COM	55277p104	2,012	31,882	SH		SOLE		31,732	0	150
MGIC Investment Corp.	COM	552848103	6,603	467,944	SH		SOLE		460,834	0	7,110
McDonald's	COM	580135101	1,199	6,965	SH		SOLE		6,810	0	155
Medical Marijuana, Inc.	COM	58463a105	4	29,301	SH		SOLE		29,301	0	0
Medtronic plc	COM	g5960l103	1,715	21,235	SH		SOLE		20,100	0	1,135
Metlife Inc	COM	59156R108	1,576	31,175	SH		SOLE		31,175	0	0
Microsoft Corp.	COM	594918104	3,847	44,975	SH		SOLE		43,535	0	1,440
Minnesota Mining & Manufacturi	COM	88579Y101	470	1,995	SH		SOLE		1,995	0	0
Modine Manufacturing	COM	607828100	4,918	243,463	SH		SOLE		239,088	0	4,375
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
Nordstrom Inc.	COM	655664100	428	9,035	SH		SOLE		8,560	0	475
Novartis AG	COM	66987v109	990	11,795	SH		SOLE		11,570	0	225
Occidental Petroleum	COM	674599105	440	5,978	SH		SOLE		5,978	0	0
Olin Corp	COM	680665205	4,413	124,018	SH		SOLE		122,198	0	1,820
Oracle Corp.	COM	68389X105	993	20,996	SH		SOLE		19,846	0	1,150
Oshkosh Corp	COM	688239201	273	3,000	SH		SOLE		3,000	0	0
Owens-Illinois, Inc.	COM	690768403	5,504	248,242	SH		SOLE		244,282	0	3,960
Paychex	COM	704326107	376	5,520	SH		SOLE		5,435	0	85
Pepsico Inc.	COM	713448108	1,758	14,660	SH		SOLE		14,095	0	565
Pfizer Inc.	COM	717081103	1,299	35,867	SH		SOLE		35,267	0	600
Philip Morris International	COM	718172109	332	3,138	SH		SOLE		2,963	0	175
Praxair	COM	74005P104	568	3,673	SH		SOLE		3,633	0	40
Procter & Gamble Co.	COM	742718109	1,419	15,442	SH		SOLE		15,007	0	435
Prudential Financial, Inc.	COM	744320102	2,881	25,058	SH		SOLE		24,228	0	830
Quad/Graphics, Inc.	COM	747301109	2,484	109,911	SH		SOLE		107,926	0	1,985
Qualcomm Inc.	COM	747525103	1,231	19,221	SH		SOLE		18,906	0	315
RPM Inc.	COM	749685103	1,591	30,359	SH		SOLE		29,459	0	900
Range Resources	COM	75281a109	2,732	160,143	SH		SOLE		158,668	0	1,475
Regal-Beloit Corp.	COM	758750103	2,377	31,031	SH		SOLE		30,196	0	835
Rockwell Automation	COM	773903109	585	2,980	SH		SOLE		2,980	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	691	10,250	SH		SOLE		9,420	0	830
Sprott Inc.	COM	852066109	97	49,700	SH		SOLE		21,200	0	28,500
Stanley Black & Decker, Inc.	COM	854502101	2,007	11,830	SH		SOLE		11,575	0	255
Target Corp.	COM	87612E106	499	7,654	SH		SOLE		7,654	0	0
Tesla Motors, Inc.	COM	88160R101	204	655	SH		SOLE		655	0	0
Teva Pharmaceutical Ind.	COM	881624209	266	14,049	SH		SOLE		11,999	0	2,050
U.S. Bancorp	COM	902973304	594	11,090	SH		SOLE		10,640	0	450
UnitedHealth Group Inc	COM	91324p102	849	3,849	SH		SOLE		3,809	0	40
VF Corp	COM	918204108	1,210	16,350	SH		SOLE		15,060	0	1,290
Verizon	COM	92343V104	4,676	88,337	SH		SOLE		86,602	0	1,735
WD 40 Company	COM	929236107	224	1,900	SH		SOLE		1,900	0	0
WEC Energy Group, Inc.	COM	92939u106	2,173	32,705	SH		SOLE		30,920	0	1,785
Wal-Mart Stores Inc.	COM	931142103	369	3,735	SH		SOLE		3,605	0	130
Walgreens Boots Alliance	COM	931427108	1,500	20,653	SH		SOLE		20,053	0	600
Walt Disney Productions	COM	254687106	515	4,787	SH		SOLE		4,787	0	0
Weatherford International	COM	g48833100	2,328	558,256	SH		SOLE		549,076	0	9,180
Wells Fargo & Co.	COM	949746101	697	11,485	SH		SOLE		10,710	0	775
YUM! Brands, Inc.	COM	988498101	238	2,920	SH		SOLE		2,740	0	180
mCig, Inc.	COM	55279l101	6	14,415	SH		SOLE		14,415	0	0
Duff & Phelps Select Income Fu	ETF	23325P104	372	34,476	SH		SOLE		32,451	0	2,025
Guggenheim S&P 500 Pure Growth	ETF	78355w403	391	3,730	SH		SOLE		3,697	0	33
Madison Covered Call&Equity St	ETF	557437100	449	58,182	SH		SOLE		55,632	0	2,550
MidCap SPDRs	ETF	78467y107	377	1,092	SH		SOLE		1,092	0	0
NASDAQ 100 Index Tracker	ETF	73935A104	328	2,104	SH		SOLE		2,104	0	0
S&P 500/Barra Growth (iShares)	ETF	464287309	215	1,409	SH		SOLE		1,024	0	385
S&P 500/Barra Value (iShares)	ETF	464287408	253	2,218	SH		SOLE		1,658	0	560
S&P Dep Receipts	ETF	78462f103	523	1,958	SH		SOLE		1,958	0	0
S&P High Yield Dividend Aristo	ETF	78464a763	202	2,140	SH		SOLE		2,140	0	0
SPDR Dow Jones Industrial Aver	ETF	78467x109	507	2,050	SH		SOLE		2,050	0	0
SPDR Portfolio Mid Cap ETF	ETF	78464A847	1,211	36,289	SH		SOLE		36,254	0	35
SPDR S&P 500 Growth ETF	ETF	78464A409	3,926	118,956	SH		SOLE		118,956	0	0
SPDR S&P 500 Value ETF	ETF	78464A508	2,278	74,240	SH		SOLE		74,240	0	0
Schwab U.S. Large-Cap Growth E	ETF	808524300	1,074	15,185	SH	��	SOLE		14,667	0	518
Schwab U.S. Large-Cap Value ET	ETF	808524409	528	9,651	SH		SOLE		9,526	0	125
Schwab U.S. Mid Cap ETF	ETF	808524508	255	4,796	SH		SOLE		4,654	0	142
Schwab US Dividend Equity ETF	ETF	808524797	341	6,661	SH		SOLE		6,361	0	300
Vanguard High Dividend Yield I	ETF	921946406	369	4,310	SH		SOLE		4,310	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	618	5,548	SH		SOLE		5,548	0	0
Vanguard Mid Cap ETF	ETF	922908629	276	1,785	SH		SOLE		1,785	0	0
Vanguard Value ETF	ETF	922908744	215	2,021	SH		SOLE		2,021	0	0
iShares Russell 1000 Growth ET	ETF	464287614	368	2,733	SH		SOLE		2,733	0	0
iShares Russell 1000 Value ETF	ETF	464287598	309	2,486	SH		SOLE		2,486	0	0
iShares Russell Growth Midcap	ETF	464287481	300	2,488	SH		SOLE		2,488	0	0
iShares Russell Midcap Value I	ETF	464287473	270	3,024	SH		SOLE		3,004	0	20
S&P 600/Barra Growth Index (iS	SMLC	464287887	1,596	9,381	SH		SOLE		8,940	0	441
S&P 600/Barra Value Index (iSh	SMLC	464287879	1,553	10,112	SH		SOLE		9,792	0	320
SPDR Portfolio Small Cap ETF	SMLC	78468R853	1,756	58,254	SH		SOLE		58,254	0	0
Schwab U.S. Small-Cap ETF	SMLC	808524607	867	12,431	SH		SOLE		12,155	0	276
Vanguard Small Cap ETF	SMLC	922908751	448	3,031	SH		SOLE		3,031	0	0
WisdomTree SmallCap Dividend E	SMLC	97717w604	250	8,607	SH		SOLE		8,607	0	0
iShares S&P SmallCap 600 Index	SMLC	464287804	606	7,888	SH		SOLE		7,888	0	0
China-H FTSE/Xinhua 25 Index (	INTL	464287184	216	4,687	SH		SOLE		4,087	0	600
Europe/Australia/Far-East Inde	INTL	464287465	504	7,170	SH		SOLE		6,906	0	264
MSCI Emerging Markets Index (i	INTL	464287234	544	11,536	SH		SOLE		11,081	0	455
SPDR Portfolio Emerging Market	INTL	78463X509	1,797	47,116	SH		SOLE		47,116	0	0
Schwab Emerging Markets Equity	INTL	808524706	848	30,364	SH		SOLE		29,749	0	615
Schwab International Equity ET	INTL	808524805	701	20,566	SH		SOLE		19,681	0	885
Vanguard Emerging Markets Stoc	INTL	922042858	1,368	29,796	SH		SOLE		29,296	0	500
Vanguard FTSE Developed Market	INTL	921943858	2,585	57,624	SH		SOLE		55,304	0	2,320
Wisdom Tree Japan Hedged Equit	INTL	97717W851	728	12,262	SH		SOLE		11,677	0	585
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	1,159	20,775	SH		SOLE		20,050	0	725
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	649	14,311	SH		SOLE		13,736	0	575
WisdomTree Int'l Hedged Divide	INTL	97717x594	562	17,740	SH		SOLE		17,115	0	625
iShares MSCI All Country Asia	INTL	464288182	419	5,487	SH		SOLE		4,960	0	527
BlackRock Int. Duration Munici	FIXD	09253X102	1,170	84,078	SH		SOLE		80,938	0	3,140
BlackRock MuniAssets Fund	FIXD	09254j102	1,011	67,558	SH		SOLE		66,558	0	1,000
Calamos Convertible & High Inc	FIXD	12811p108	480	40,512	SH		SOLE		36,137	0	4,375
Eaton Vance Limited Duration I	FIXD	27828H105	568	41,607	SH		SOLE		37,657	0	3,950
Guggenheim Enhanced Short-Dura	FIXD	18383m654	512	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	317	31,300	SH		SOLE		31,300	0	0
PIMCO Corporate Opportunity Fu	FIXD	72201b101	611	37,116	SH		SOLE		34,516	0	2,600
PIMCO Enhanced Short Maturity	FIXD	72201r833	960	9,452	SH		SOLE		8,827	0	625
PowerShares CEF Income Composi	FIXD	73936q843	755	31,583	SH		SOLE		28,408	0	3,175
Putnam Master Intrm Inc Tr	FIXD	746909100	62	13,082	SH		SOLE		13,082	0	0
SPDR Nuveen S&P High Yield Mun	FIXD	78464A284	325	5,847	SH		SOLE		5,319	0	528
SPDR Portfolio Aggregate Bond	FIXD	78464a649	2,428	84,483	SH		SOLE		84,483	0	0
SPDR Short Term Municipal Bond	FIXD	78468r739	979	20,432	SH		SOLE		20,432	0	0
Schwab Intermediate-Term U.S.	FIXD	808524854	221	4,136	SH		SOLE		3,911	0	225
Schwab US Aggregate Bond ETF	FIXD	808524839	1,002	19,264	SH		SOLE		18,402	0	862
Templeton Global Income Fund	FIXD	880198106	404	62,550	SH		SOLE		28,400	0	34,150
Vanguard Intermediate-Term Bon	FIXD	921937819	573	6,834	SH		SOLE		2,839	0	3,995
Vanguard Short-Term Bond ETF	FIXD	921937827	503	6,361	SH		SOLE		3,216	0	3,145
Vanguard Total Intl Bond Ind E	FIXD	92203j407	904	16,634	SH		SOLE		16,403	0	231
iShares Barclays Aggregate Bon	FIXD	464287226	444	4,060	SH		SOLE		4,060	0	0
iShares Barclays TIPS Bond Fun	FIXD	464287176	718	6,294	SH		SOLE		4,534	0	1,760
iShares Core International Agg	FIXD	46435g672	3,453	66,338	SH		SOLE		66,338	0	0
iShares iBoxx Invest Grade Cor	FIXD	464287242	1,256	10,332	SH		SOLE		9,902	0	430
Gold Shares SPDR	CMDT	78463v107	646	5,222	SH		SOLE		4,852	0	370
Sprott Physical Gold and Silve	CMDT	85208r101	497	37,070	SH		SOLE		8,075	0	28,995
iShares Gold Trust	CMDT	464285105	230	18,416	SH		SOLE		15,701	0	2,715
Claymore/Clear Global Timber I	REAL	18383q879	279	8,787	SH		SOLE		8,087	0	700
DJ Wilshire Int'l Real Estate	REAL	78463x863	625	15,444	SH		SOLE		12,779	0	2,665
SPDR Dow Jones Global Real Est	REAL	78463x749	951	19,447	SH		SOLE		18,346	0	1,101
Weyerhaeuser Co.	REAL	962166104	241	6,826	SH		SOLE		6,778	0	48
iShares S&P Global Timber & Fo	REAL	464288174	509	7,157	SH		SOLE		6,372	0	785
ALPS Alerian MLP ETF	HEDG	00162q866	383	35,533	SH		SOLE		32,048	0	3,485
ProShares S&P 500 Index Invers	HEDG	74347r503	1,655	54,850	SH		SOLE		54,750	0	100
ProShares Short Russell2000	HEDG	74648a210	266	6,300	SH		SOLE		6,300	0	0