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	1,709	47,951	SH		SOLE		47,586	0	365
AbbVie Inc.	COM	00287y109	4,084	43,151	SH		SOLE		42,221	0	930
Abbott Labs	COM	002824100	679	11,333	SH		SOLE		10,823	0	510
Accenture	COM	g1151c101	798	5,198	SH		SOLE		4,813	0	385
Adient plc	COM	g0084w101	3,032	50,742	SH		SOLE		49,701	0	1,041
Allegheny Technologies	COM	01741r102	4,212	177,886	SH		SOLE		174,136	0	3,750
Alliant Energy	COM	018802108	1,947	47,661	SH		SOLE		46,654	0	1,007
Alphabet Inc. Class A	COM	02079k305	1,357	1,308	SH		SOLE		984	0	324
Alphabet Inc. Class C	COM	02079k107	3,527	3,418	SH		SOLE		2,970	0	448
Altria Group	COM	02209s103	230	3,688	SH		SOLE		3,608	0	80
Amazon.com	COM	023135106	566	391	SH		SOLE		372	0	19
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	1,150	6,743	SH		SOLE		6,308	0	435
Apache Corporation	COM	037411105	1,210	31,455	SH		SOLE		30,655	0	800
Apple Inc.	COM	037833100	3,522	20,994	SH		SOLE		20,390	0	604
Arrow Electronics	COM	042735100	1,213	15,743	SH		SOLE		15,743	0	0
BP p.l.c.	COM	055622104	409	10,077	SH		SOLE		9,927	0	150
Bank of America	COM	060505104	2,072	69,090	SH		SOLE		68,990	0	100
Bank of Montreal	COM	063671101	346	4,575	SH		SOLE		4,465	0	110
Berkshire Hathaway cl. A (1/10	COM	084990175	897	300	SH		SOLE		300	0	0
Berkshire Hathaway cl. B	COM	084670702	1,497	7,505	SH		SOLE		7,320	0	185
Bristol-Myers Squibb	COM	110122108	249	3,942	SH		SOLE		3,942	0	0
CVS Caremark Corp	COM	126650100	2,444	39,289	SH		SOLE		38,609	0	680
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Caterpillar Inc.	COM	149123101	604	4,100	SH		SOLE		4,100	0	0
Chesapeake Energy	COM	165167107	567	187,600	SH		SOLE		187,600	0	0
Chevron Corp.	COM	166764100	1,501	13,158	SH		SOLE		12,428	0	730
Cisco Systems Inc.	COM	17275R102	4,273	99,624	SH		SOLE		97,994	0	1,630
Citigroup Inc.	COM	172967424	4,739	70,214	SH		SOLE		68,764	0	1,450
Coca-Cola Co.	COM	191216100	271	6,238	SH		SOLE		5,683	0	555
Colgate-Palmolive Co.	COM	194162103	861	12,010	SH		SOLE		11,520	0	490
Deere & Co	COM	244199105	415	2,675	SH		SOLE		2,675	0	0
Diebold, Incorporated	COM	253651103	860	55,820	SH		SOLE		55,820	0	0
Dominion Resources Inc.	COM	25746U109	360	5,345	SH		SOLE		5,055	0	290
DowDuPont Inc.	COM	26078j100	949	14,896	SH		SOLE		14,679	0	217
Duke Energy	COM	26441C204	297	3,827	SH		SOLE		3,827	0	0
Exxon-Mobil	COM	30231G102	993	13,313	SH		SOLE		13,063	0	250
Facebook Inc.	COM	30303m102	1,263	7,902	SH		SOLE		7,357	0	545
Fastenal Co.	COM	311900104	331	6,068	SH		SOLE		5,768	0	300
Fidelity National Info Service	COM	31620m106	216	2,246	SH		SOLE		2,246	0	0
Fiserv Inc.	COM	337738108	2,872	40,272	SH		SOLE		39,172	0	1,100
General Dynamics	COM	369550108	531	2,405	SH		SOLE		2,380	0	25
General Electric Co.	COM	369604103	2,730	202,525	SH		SOLE		197,690	0	4,835
Genuine Parts	COM	372460105	515	5,737	SH		SOLE		5,537	0	200
Gilead Sciences	COM	375558103	2,460	32,624	SH		SOLE		31,959	0	665
Harley Davidson	COM	412822108	206	4,801	SH		SOLE		4,601	0	200
Helen of Troy, Ltd	COM	g4388n106	1,859	21,365	SH		SOLE		20,760	0	605
Hershey Foods Corp	COM	427866108	203	2,050	SH		SOLE		2,000	0	50
Home Depot Inc.	COM	437076102	320	1,794	SH		SOLE		1,794	0	0
Intel Corp.	COM	458140100	3,436	65,968	SH		SOLE		64,793	0	1,175
Intl Business Mach. Corp.	COM	459200101	984	6,415	SH		SOLE		6,210	0	205
J.P. Morgan Chase	COM	46625H100	4,125	37,511	SH		SOLE		37,090	0	421
Johnson & Johnson	COM	478160104	3,725	29,064	SH		SOLE		28,129	0	935
Johnson Controls Intl plc	COM	G51502105	2,604	73,881	SH		SOLE		70,634	0	3,247
Kimberly-Clark Corp.	COM	494368103	1,363	12,377	SH		SOLE		12,257	0	120
Kohl's Corp.	COM	500255104	5,270	80,451	SH		SOLE		78,941	0	1,510
Lockheed Martin Corp.	COM	539830109	311	919	SH		SOLE		919	0	0
MGE Energy	COM	55277p104	1,777	31,682	SH		SOLE		31,532	0	150
MGIC Investment Corp.	COM	552848103	6,080	467,675	SH		SOLE		460,565	0	7,110
McDonald's	COM	580135101	1,057	6,761	SH		SOLE		6,606	0	155
Medtronic plc	COM	g5960l103	1,804	22,483	SH		SOLE		21,348	0	1,135
Metlife Inc	COM	59156R108	1,431	31,175	SH		SOLE		31,175	0	0
Microsoft Corp.	COM	594918104	3,842	42,095	SH		SOLE		40,905	0	1,190
Minnesota Mining & Manufacturi	COM	88579Y101	414	1,885	SH		SOLE		1,885	0	0
Modine Manufacturing	COM	607828100	4,512	213,317	SH		SOLE		209,692	0	3,625
NVidia Corp	COM	67066G104	228	983	SH		SOLE		983	0	0
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
Nordstrom Inc.	COM	655664100	364	7,520	SH		SOLE		7,175	0	345
Novartis AG	COM	66987v109	962	11,904	SH		SOLE		11,679	0	225
Occidental Petroleum	COM	674599105	390	6,003	SH		SOLE		6,003	0	0
Olin Corp	COM	680665205	3,727	122,648	SH		SOLE		120,828	0	1,820
Oracle Corp.	COM	68389X105	890	19,455	SH		SOLE		18,330	0	1,125
Owens-Illinois, Inc.	COM	690768403	5,329	246,045	SH		SOLE		242,385	0	3,660
Paychex	COM	704326107	301	4,880	SH		SOLE		4,820	0	60
Pepsico Inc.	COM	713448108	1,531	14,029	SH		SOLE		13,539	0	490
Pfizer Inc.	COM	717081103	1,219	34,354	SH		SOLE		33,854	0	500
Philip Morris International	COM	718172109	297	2,988	SH		SOLE		2,813	0	175
Praxair	COM	74005P104	466	3,226	SH		SOLE		3,186	0	40
Procter & Gamble Co.	COM	742718109	1,077	13,580	SH		SOLE		13,210	0	370
Prudential Financial, Inc.	COM	744320102	2,685	25,929	SH		SOLE		25,079	0	850
Quad/Graphics, Inc.	COM	747301109	1,937	76,418	SH		SOLE		74,683	0	1,735
Qualcomm Inc.	COM	747525103	1,420	25,628	SH		SOLE		25,313	0	315
RPM Inc.	COM	749685103	1,338	28,069	SH		SOLE		27,294	0	775
Range Resources	COM	75281a109	2,450	168,499	SH		SOLE		166,549	0	1,950
Regal-Beloit Corp.	COM	758750103	2,859	38,977	SH		SOLE		38,042	0	935
Rockwell Automation	COM	773903109	464	2,665	SH		SOLE		2,665	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	653	10,075	SH		SOLE		9,345	0	730
Sprott Inc.	COM	852066109	116	48,200	SH		SOLE		19,700	0	28,500
Stanley Black & Decker, Inc.	COM	854502101	1,872	12,218	SH		SOLE		11,963	0	255
Teva Pharmaceutical Ind.	COM	881624209	208	12,157	SH		SOLE		10,307	0	1,850
U.S. Bancorp	COM	902973304	490	9,710	SH		SOLE		9,260	0	450
UnitedHealth Group Inc	COM	91324p102	783	3,660	SH		SOLE		3,620	0	40
VF Corp	COM	918204108	1,163	15,685	SH		SOLE		14,445	0	1,240
Verizon	COM	92343V104	4,263	89,140	SH		SOLE		87,405	0	1,735
WD 40 Company	COM	929236107	242	1,835	SH		SOLE		1,835	0	0
WEC Energy Group, Inc.	COM	92939u106	2,060	32,849	SH		SOLE		31,264	0	1,585
Wal-Mart Stores Inc.	COM	931142103	482	5,413	SH		SOLE		5,283	0	130
Walgreens Boots Alliance	COM	931427108	1,492	22,783	SH		SOLE		22,183	0	600
Walt Disney Productions	COM	254687106	491	4,887	SH		SOLE		4,887	0	0
Weatherford International	COM	g48833100	1,236	539,834	SH		SOLE		531,404	0	8,430
Wells Fargo & Co.	COM	949746101	623	11,895	SH		SOLE		11,120	0	775
Western Digital Corporation	COM	958102105	812	8,805	SH		SOLE		8,765	0	40
YUM! Brands, Inc.	COM	988498101	261	3,069	SH		SOLE		2,889	0	180
Duff & Phelps Select Income Fu	ETF	23325P104	347	33,736	SH		SOLE		31,961	0	1,775
Madison Covered Call&Equity St	ETF	557437100	415	57,207	SH		SOLE		54,957	0	2,250
MidCap SPDRs	ETF	78467y107	313	917	SH		SOLE		917	0	0
NASDAQ 100 Index Tracker	ETF	73935A104	322	2,011	SH		SOLE		2,011	0	0
Powershares S&P 500 Pure Growt	ETF	739371722	336	3,065	SH		SOLE		3,032	0	33
S&P Dep Receipts	ETF	78462f103	482	1,833	SH		SOLE		1,833	0	0
SPDR Dow Jones Industrial Aver	ETF	78467x109	454	1,880	SH		SOLE		1,880	0	0
SPDR Portfolio Mid Cap ETF	ETF	78464A847	1,330	40,096	SH		SOLE		40,059	0	37
SPDR S&P 500 Growth ETF	ETF	78464A409	4,230	126,207	SH		SOLE		126,207	0	0
SPDR S&P 500 Value ETF	ETF	78464A508	2,401	81,672	SH		SOLE		81,672	0	0
Schwab U.S. Large-Cap Growth E	ETF	808524300	1,203	16,777	SH		SOLE		16,259	0	518
Schwab U.S. Large-Cap Value ET	ETF	808524409	613	11,598	SH		SOLE		11,473	0	125
Schwab U.S. Mid Cap ETF	ETF	808524508	222	4,191	SH		SOLE		4,049	0	142
Schwab US Dividend Equity ETF	ETF	808524797	282	5,745	SH		SOLE		5,445	0	300
Vanguard High Dividend Yield I	ETF	921946406	356	4,310	SH		SOLE		4,310	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	606	5,398	SH		SOLE		5,398	0	0
Vanguard Mid Cap ETF	ETF	922908629	257	1,666	SH		SOLE		1,666	0	0
iShares Russell 1000 Growth ET	ETF	464287614	352	2,588	SH		SOLE		2,588	0	0
iShares Russell 1000 Value ETF	ETF	464287598	297	2,479	SH		SOLE		2,479	0	0
iShares Russell Growth Midcap	ETF	464287481	284	2,306	SH		SOLE		2,306	0	0
iShares Russell Midcap Value I	ETF	464287473	261	3,014	SH		SOLE		2,994	0	20
S&P 600/Barra Growth Index (iS	SMLC	464287887	1,533	8,816	SH		SOLE		8,501	0	315
S&P 600/Barra Value Index (iSh	SMLC	464287879	1,491	9,887	SH		SOLE		9,597	0	290
SPDR Portfolio Small Cap ETF	SMLC	78468R853	1,920	64,175	SH		SOLE		64,175	0	0
Schwab U.S. Small-Cap ETF	SMLC	808524607	945	13,671	SH		SOLE		13,271	0	400
Vanguard Small Cap ETF	SMLC	922908751	451	3,067	SH		SOLE		3,067	0	0
WisdomTree SmallCap Dividend E	SMLC	97717w604	201	7,347	SH		SOLE		7,347	0	0
iShares S&P SmallCap 600 Index	SMLC	464287804	595	7,723	SH		SOLE		7,723	0	0
China-H FTSE/Xinhua 25 Index (	INTL	464287184	217	4,597	SH		SOLE		3,997	0	600
Europe/Australia/Far-East Inde	INTL	464287465	497	7,134	SH		SOLE		6,870	0	264
MSCI Emerging Markets Index (i	INTL	464287234	559	11,576	SH		SOLE		11,121	0	455
MSCI Japan Index (iShares)	INTL	46434g822	256	4,219	SH		SOLE		4,019	0	200
SPDR Portfolio Emerging Market	INTL	78463X509	1,982	50,440	SH		SOLE		50,440	0	0
Schwab Emerging Markets Equity	INTL	808524706	937	32,635	SH		SOLE		32,020	0	615
Schwab International Equity ET	INTL	808524805	693	20,561	SH		SOLE		19,496	0	1,065
Vanguard Emerging Markets Stoc	INTL	922042858	1,523	32,428	SH		SOLE		31,928	0	500
Vanguard FTSE Developed Market	INTL	921943858	2,741	61,940	SH		SOLE		59,545	0	2,395
Wisdom Tree Japan Hedged Equit	INTL	97717W851	691	12,340	SH		SOLE		11,755	0	585
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	1,238	22,563	SH		SOLE		22,038	0	525
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	714	14,936	SH		SOLE		14,486	0	450
WisdomTree Int'l Hedged Divide	INTL	97717x594	538	17,440	SH		SOLE		16,815	0	625
iShares MSCI All Country Asia	INTL	464288182	415	5,352	SH		SOLE		4,825	0	527
BlackRock Int. Duration Munici	FIXD	09253X102	1,219	92,978	SH		SOLE		89,838	0	3,140
BlackRock MuniAssets Fund	FIXD	09254j102	1,131	83,857	SH		SOLE		82,857	0	1,000
Calamos Convertible & High Inc	FIXD	12811p108	485	41,412	SH		SOLE		37,037	0	4,375
Eaton Vance Limited Duration I	FIXD	27828H105	543	41,682	SH		SOLE		37,732	0	3,950
Nuveen Dividend Advantage Muni	FIXD	67071l106	164	11,285	SH		SOLE		11,285	0	0
Nuveen Municipal Value Fund In	FIXD	670928100	299	31,600	SH		SOLE		31,600	0	0
PIMCO Corporate Opportunity Fu	FIXD	72201b101	633	37,399	SH		SOLE		34,799	0	2,600
PIMCO Enhanced Short Maturity	FIXD	72201r833	912	8,977	SH		SOLE		8,627	0	350
PowerShares CEF Income Composi	FIXD	73936q843	725	31,584	SH		SOLE		28,409	0	3,175
Powershares Ultra Short-Durati	FIXD	73935b797	483	9,615	SH		SOLE		8,615	0	1,000
Putnam Master Intrm Inc Tr	FIXD	746909100	65	13,800	SH		SOLE		13,800	0	0
SPDR Nuveen S&P High Yield Mun	FIXD	78464A284	297	5,320	SH		SOLE		5,320	0	0
SPDR Portfolio Aggregate Bond	FIXD	78464a649	2,735	97,125	SH		SOLE		97,125	0	0
SPDR Short Term Municipal Bond	FIXD	78468r739	1,040	21,757	SH		SOLE		21,757	0	0
Schwab US Aggregate Bond ETF	FIXD	808524839	1,073	21,041	SH		SOLE		20,374	0	667
Templeton Global Income Fund	FIXD	880198106	358	56,050	SH		SOLE		22,400	0	33,650
Vanguard Intermediate-Term Bon	FIXD	921937819	547	6,691	SH		SOLE		2,696	0	3,995
Vanguard Short-Term Bond ETF	FIXD	921937827	439	5,591	SH		SOLE		3,146	0	2,445
Vanguard Total Intl Bond Ind E	FIXD	92203j407	1,120	20,473	SH		SOLE		20,242	0	231
iShares Barclays Aggregate Bon	FIXD	464287226	410	3,821	SH		SOLE		3,821	0	0
iShares Barclays TIPS Bond Fun	FIXD	464287176	695	6,144	SH		SOLE		4,384	0	1,760
iShares Core International Agg	FIXD	46435g672	3,991	75,775	SH		SOLE		75,775	0	0
iShares iBoxx Invest Grade Cor	FIXD	464287242	1,194	10,171	SH		SOLE		9,741	0	430
Gold Shares SPDR	CMDT	78463v107	677	5,382	SH		SOLE		5,012	0	370
Sprott Physical Gold and Silve	CMDT	85208r101	438	33,120	SH		SOLE		5,725	0	27,395
iShares Gold Trust	CMDT	464285105	240	18,816	SH		SOLE		16,401	0	2,415
DJ Wilshire Int'l Real Estate	REAL	78463x863	632	15,784	SH		SOLE		13,263	0	2,521
Powershares MSCI Global Timber	REAL	73936q587	258	7,887	SH		SOLE		7,287	0	600
SPDR Dow Jones Global Real Est	REAL	78463x749	955	20,646	SH		SOLE		19,545	0	1,101
Weyerhaeuser Co.	REAL	962166104	234	6,698	SH		SOLE		6,698	0	0
iShares S&P Global Timber & Fo	REAL	464288174	519	6,627	SH		SOLE		6,017	0	610
ALPS Alerian MLP ETF	HEDG	00162q866	322	34,408	SH		SOLE		31,273	0	3,135
ProShares S&P 500 Index Invers	HEDG	74347r503	1,829	60,350	SH		SOLE		60,250	0	100
ProShares Short Russell2000	HEDG	74648a210	265	6,300	SH		SOLE		6,300	0	0