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	1,480	46,100	SH		SOLE		45,735	0	365
AbbVie Inc.	COM	00287y109	4,142	44,706	SH		SOLE		43,776	0	930
Abbott Labs	COM	002824100	677	11,098	SH		SOLE		10,588	0	510
Accenture	COM	g1151c101	823	5,028	SH		SOLE		4,643	0	385
Adient plc	COM	g0084w101	2,455	49,899	SH		SOLE		48,858	0	1,041
Allegheny Technologies	COM	01741r102	4,364	173,716	SH		SOLE		170,566	0	3,150
Alliant Energy	COM	018802108	2,008	47,451	SH		SOLE		46,519	0	932
Alphabet Inc. Class A	COM	02079k305	1,456	1,289	SH		SOLE		965	0	324
Alphabet Inc. Class C	COM	02079k107	3,808	3,413	SH		SOLE		2,965	0	448
Altria Group	COM	02209s103	208	3,665	SH		SOLE		3,585	0	80
Amazon.com	COM	023135106	563	331	SH		SOLE		312	0	19
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	1,255	6,798	SH		SOLE		6,363	0	435
Apache Corporation	COM	037411105	1,489	31,855	SH		SOLE		31,055	0	800
Apple Inc.	COM	037833100	4,030	21,772	SH		SOLE		21,168	0	604
Arrow Electronics	COM	042735100	1,181	15,693	SH		SOLE		15,693	0	0
BP p.l.c.	COM	055622104	449	9,830	SH		SOLE		9,680	0	150
Babcock & Wilcox Enterprises,	COM	05614l100	45	19,101	SH		SOLE		19,101	0	0
Bank of America	COM	060505104	2,019	71,630	SH		SOLE		71,530	0	100
Bank of Montreal	COM	063671101	294	3,803	SH		SOLE		3,743	0	60
Berkshire Hathaway cl. A (1/10	COM	084990175	846	300	SH		SOLE		300	0	0
Berkshire Hathaway cl. B	COM	084670702	1,401	7,505	SH		SOLE		7,320	0	185
Bristol-Myers Squibb	COM	110122108	208	3,750	SH		SOLE		3,750	0	0
CVS Caremark Corp	COM	126650100	3,178	49,385	SH		SOLE		48,420	0	965
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Caterpillar Inc.	COM	149123101	556	4,100	SH		SOLE		4,100	0	0
Chesapeake Energy	COM	165167107	983	187,600	SH		SOLE		187,600	0	0
Chevron Corp.	COM	166764100	1,674	13,241	SH		SOLE		12,486	0	755
Cisco Systems Inc.	COM	17275R102	3,914	90,957	SH		SOLE		89,327	0	1,630
Citigroup Inc.	COM	172967424	4,824	72,087	SH		SOLE		70,637	0	1,450
Coca-Cola Co.	COM	191216100	271	6,188	SH		SOLE		5,633	0	555
Colgate-Palmolive Co.	COM	194162103	720	11,110	SH		SOLE		10,650	0	460
Deere & Co	COM	244199105	374	2,675	SH		SOLE		2,675	0	0
Diebold, Incorporated	COM	253651103	667	55,820	SH		SOLE		55,820	0	0
Dominion Resources Inc.	COM	25746U109	360	5,275	SH		SOLE		4,985	0	290
DowDuPont Inc.	COM	26078j100	989	14,996	SH		SOLE		14,679	0	317
Duke Energy	COM	26441C204	303	3,827	SH		SOLE		3,827	0	0
Exxon-Mobil	COM	30231G102	1,101	13,314	SH		SOLE		13,064	0	250
Facebook Inc.	COM	30303m102	742	3,821	SH		SOLE		3,321	0	500
Fastenal Co.	COM	311900104	292	6,068	SH		SOLE		5,768	0	300
Fidelity National Info Service	COM	31620m106	238	2,246	SH		SOLE		2,246	0	0
Fiserv Inc.	COM	337738108	2,958	39,927	SH		SOLE		38,827	0	1,100
General Dynamics	COM	369550108	442	2,370	SH		SOLE		2,345	0	25
General Electric Co.	COM	369604103	2,713	199,307	SH		SOLE		194,572	0	4,735
Genuine Parts	COM	372460105	527	5,737	SH		SOLE		5,537	0	200
Gilead Sciences	COM	375558103	2,168	30,606	SH		SOLE		29,941	0	665
Helen of Troy, Ltd	COM	g4388n106	2,271	23,067	SH		SOLE		22,387	0	680
Home Depot Inc.	COM	437076102	350	1,794	SH		SOLE		1,794	0	0
Intel Corp.	COM	458140100	3,310	66,577	SH		SOLE		65,402	0	1,175
Intl Business Mach. Corp.	COM	459200101	873	6,250	SH		SOLE		6,045	0	205
J.P. Morgan Chase	COM	46625H100	3,514	33,726	SH		SOLE		33,305	0	421
Johnson & Johnson	COM	478160104	3,578	29,487	SH		SOLE		28,552	0	935
Johnson Controls Intl plc	COM	G51502105	2,425	72,490	SH		SOLE		69,593	0	2,897
Kimberly-Clark Corp.	COM	494368103	1,420	13,479	SH		SOLE		13,259	0	220
Kohl's Corp.	COM	500255104	3,705	50,822	SH		SOLE		49,682	0	1,140
Lockheed Martin Corp.	COM	539830109	267	905	SH		SOLE		905	0	0
MGE Energy	COM	55277p104	1,993	31,612	SH		SOLE		31,462	0	150
MGIC Investment Corp.	COM	552848103	5,100	475,720	SH		SOLE		468,910	0	6,810
McDonald's	COM	580135101	1,060	6,763	SH		SOLE		6,608	0	155
Medtronic plc	COM	g5960l103	2,020	23,592	SH		SOLE		22,457	0	1,135
Merck & Co. Inc.	COM	58933y105	207	3,414	SH		SOLE		3,174	0	240
Metlife Inc	COM	59156R108	1,359	31,175	SH		SOLE		31,175	0	0
Microsoft Corp.	COM	594918104	4,094	41,520	SH		SOLE		40,330	0	1,190
Minnesota Mining & Manufacturi	COM	88579Y101	361	1,836	SH		SOLE		1,836	0	0
Modine Manufacturing	COM	607828100	4,035	221,112	SH		SOLE		217,937	0	3,175
NVidia Corp	COM	67066G104	216	910	SH		SOLE		910	0	0
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
Nordstrom Inc.	COM	655664100	378	7,305	SH		SOLE		6,960	0	345
Novartis AG	COM	66987v109	1,023	13,548	SH		SOLE		13,323	0	225
Occidental Petroleum	COM	674599105	517	6,183	SH		SOLE		6,183	0	0
Olin Corp	COM	680665205	3,565	124,113	SH		SOLE		122,293	0	1,820
Oracle Corp.	COM	68389X105	828	18,801	SH		SOLE		17,676	0	1,125
Owens-Illinois, Inc.	COM	690768403	4,235	251,935	SH		SOLE		248,275	0	3,660
Paychex	COM	704326107	316	4,625	SH		SOLE		4,600	0	25
Pepsico Inc.	COM	713448108	1,688	15,508	SH		SOLE		14,978	0	530
Pfizer Inc.	COM	717081103	1,195	32,929	SH		SOLE		32,429	0	500
Philip Morris International	COM	718172109	219	2,713	SH		SOLE		2,538	0	175
Praxair	COM	74005P104	483	3,051	SH		SOLE		3,011	0	40
Procter & Gamble Co.	COM	742718109	1,061	13,587	SH		SOLE		12,767	0	820
Prudential Financial, Inc.	COM	744320102	2,512	26,860	SH		SOLE		25,980	0	880
Quad/Graphics, Inc.	COM	747301109	2,844	136,541	SH		SOLE		128,891	0	7,650
Qualcomm Inc.	COM	747525103	1,301	23,177	SH		SOLE		22,857	0	320
RPM Inc.	COM	749685103	1,628	27,921	SH		SOLE		27,146	0	775
Range Resources	COM	75281a109	2,828	169,024	SH		SOLE		167,074	0	1,950
Regal-Beloit Corp.	COM	758750103	3,142	38,408	SH		SOLE		37,473	0	935
Rockwell Automation	COM	773903109	443	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	4	19,000	SH		SOLE		19,000	0	0
Schlumberger Ltd.	COM	806857108	660	9,850	SH		SOLE		9,155	0	695
Sprott Inc.	COM	852066109	83	36,000	SH		SOLE		14,500	0	21,500
Stanley Black & Decker, Inc.	COM	854502101	1,699	12,794	SH		SOLE		12,539	0	255
Tesla Motors, Inc.	COM	88160R101	219	640	SH		SOLE		640	0	0
Teva Pharmaceutical Ind.	COM	881624209	262	10,757	SH		SOLE		9,307	0	1,450
U.S. Bancorp	COM	902973304	443	8,860	SH		SOLE		8,460	0	400
UnitedHealth Group Inc	COM	91324p102	824	3,360	SH		SOLE		3,320	0	40
VF Corp	COM	918204108	1,229	15,080	SH		SOLE		13,840	0	1,240
Valero Energy Corp	COM	91913y100	225	2,030	SH		SOLE		1,920	0	110
Verizon	COM	92343V104	4,522	89,891	SH		SOLE		88,141	0	1,750
WD 40 Company	COM	929236107	268	1,835	SH		SOLE		1,835	0	0
WEC Energy Group, Inc.	COM	92939u106	2,102	32,509	SH		SOLE		31,174	0	1,335
Wal-Mart Stores Inc.	COM	931142103	447	5,216	SH		SOLE		5,166	0	50
Walgreens Boots Alliance	COM	931427108	1,448	24,127	SH		SOLE		23,527	0	600
Walt Disney Productions	COM	254687106	504	4,807	SH		SOLE		4,807	0	0
Weatherford International	COM	g48833100	2,117	643,399	SH		SOLE		634,499	0	8,900
Wells Fargo & Co.	COM	949746101	666	12,013	SH		SOLE		11,238	0	775
Western Digital Corporation	COM	958102105	1,586	20,482	SH		SOLE		20,017	0	465
YUM! Brands, Inc.	COM	988498101	240	3,069	SH		SOLE		2,889	0	180
Duff & Phelps Select Income Fu	ETF	23325P104	355	32,885	SH		SOLE		31,110	0	1,775
Invesco NASDAQ 100 Index Track	ETF	46090e103	332	1,934	SH		SOLE		1,934	0	0
Invesco S&P 500 Pure Growth ET	ETF	46137v266	254	2,214	SH		SOLE		2,181	0	33
Madison Covered Call&Equity St	ETF	557437100	420	56,395	SH		SOLE		54,145	0	2,250
MidCap SPDRs	ETF	78467y107	326	917	SH		SOLE		917	0	0
S&P Dep Receipts	ETF	78462f103	489	1,803	SH		SOLE		1,803	0	0
SPDR Dow Jones Industrial Aver	ETF	78467x109	456	1,880	SH		SOLE		1,880	0	0
SPDR Portfolio Mid Cap ETF	ETF	78464A847	1,524	43,679	SH		SOLE		43,515	0	164
SPDR S&P 500 Growth ETF	ETF	78464A409	4,904	139,599	SH		SOLE		139,329	0	270
SPDR S&P 500 Value ETF	ETF	78464A508	2,862	96,595	SH		SOLE		95,512	0	1,083
Schwab U.S. Large-Cap Growth E	ETF	808524300	1,527	20,152	SH		SOLE		19,633	0	519
Schwab U.S. Large-Cap Value ET	ETF	808524409	778	14,655	SH		SOLE		14,530	0	125
Schwab U.S. Mid Cap ETF	ETF	808524508	202	3,681	SH		SOLE		3,539	0	142
Schwab US Dividend Equity ETF	ETF	808524797	226	4,594	SH		SOLE		4,294	0	300
Vanguard High Dividend Yield I	ETF	921946406	281	3,379	SH		SOLE		3,379	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	591	4,964	SH		SOLE		4,964	0	0
Vanguard Mid Cap ETF	ETF	922908629	229	1,451	SH		SOLE		1,451	0	0
iShares Russell Growth Midcap	ETF	464287481	210	1,661	SH		SOLE		1,661	0	0
S&P 600/Barra Growth Index (iS	SMLC	464287887	1,729	9,149	SH		SOLE		8,844	0	305
S&P 600/Barra Value Index (iSh	SMLC	464287879	1,690	10,349	SH		SOLE		10,059	0	290
SPDR Portfolio Small Cap ETF	SMLC	78468R853	2,291	70,977	SH		SOLE		70,841	0	136
Schwab U.S. Small-Cap ETF	SMLC	808524607	1,064	14,459	SH		SOLE		14,059	0	400
Vanguard Small Cap ETF	SMLC	922908751	438	2,811	SH		SOLE		2,811	0	0
WisdomTree SmallCap Dividend E	SMLC	97717w604	213	7,167	SH		SOLE		7,167	0	0
iShares S&P SmallCap 600 Index	SMLC	464287804	537	6,436	SH		SOLE		6,436	0	0
Europe/Australia/Far-East Inde	INTL	464287465	478	7,139	SH		SOLE		6,875	0	264
MSCI Emerging Markets Index (i	INTL	464287234	515	11,886	SH		SOLE		11,431	0	455
MSCI Japan Index (iShares)	INTL	46434g822	284	4,904	SH		SOLE		4,669	0	235
SPDR Portfolio Emerging Market	INTL	78463X509	1,897	53,687	SH		SOLE		53,663	0	24
Schwab Emerging Markets Equity	INTL	808524706	915	35,329	SH		SOLE		34,711	0	618
Schwab International Equity ET	INTL	808524805	615	18,605	SH		SOLE		17,540	0	1,065
Vanguard Emerging Markets Stoc	INTL	922042858	1,382	32,753	SH		SOLE		32,253	0	500
Vanguard FTSE Developed Market	INTL	921943858	2,691	62,735	SH		SOLE		60,340	0	2,395
Wisdom Tree Japan Hedged Equit	INTL	97717W851	647	11,990	SH		SOLE		11,405	0	585
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	1,236	23,435	SH		SOLE		22,910	0	525
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	676	15,776	SH		SOLE		15,326	0	450
WisdomTree Int'l Hedged Divide	INTL	97717x594	554	17,441	SH		SOLE		16,816	0	625
iShares MSCI All Country Asia	INTL	464288182	420	5,857	SH		SOLE		5,330	0	527
BlackRock Int. Duration Munici	FIXD	09253X102	1,258	95,228	SH		SOLE		92,088	0	3,140
BlackRock MuniAssets Fund	FIXD	09254j102	1,164	87,957	SH		SOLE		86,957	0	1,000
Calamos Convertible & High Inc	FIXD	12811p108	527	41,404	SH		SOLE		37,029	0	4,375
Eaton Vance Limited Duration I	FIXD	27828H105	537	42,657	SH		SOLE		38,707	0	3,950
Invesco CEF Income Composite E	FIXD	46138e404	849	37,256	SH		SOLE		34,381	0	2,875
Invesco Ultra Short-Duration E	FIXD	46090a887	448	8,915	SH		SOLE		7,915	0	1,000
Nuveen Dividend Advantage Muni	FIXD	67071l106	165	11,285	SH		SOLE		11,285	0	0
Nuveen Municipal Value Fund In	FIXD	670928100	302	31,600	SH		SOLE		31,600	0	0
PIMCO Corporate Opportunity Fu	FIXD	72201b101	474	27,125	SH		SOLE		25,775	0	1,350
PIMCO Enhanced Short Maturity	FIXD	72201r833	857	8,435	SH		SOLE		8,085	0	350
Putnam Master Intrm Inc Tr	FIXD	746909100	64	13,800	SH		SOLE		13,800	0	0
SPDR Nuveen S&P High Yield Mun	FIXD	78464A284	300	5,311	SH		SOLE		5,311	0	0
SPDR Portfolio Aggregate Bond	FIXD	78464a649	2,878	103,180	SH		SOLE		103,086	0	94
SPDR Short Term Municipal Bond	FIXD	78468r739	1,030	21,468	SH		SOLE		21,468	0	0
Schwab US Aggregate Bond ETF	FIXD	808524839	1,202	23,732	SH		SOLE		23,064	0	668
Templeton Global Income Fund	FIXD	880198106	268	43,600	SH		SOLE		16,900	0	26,700
Vanguard Intermediate-Term Bon	FIXD	921937819	501	6,190	SH		SOLE		2,245	0	3,945
Vanguard Short-Term Bond ETF	FIXD	921937827	314	4,011	SH		SOLE		1,696	0	2,315
Vanguard Total Intl Bond Ind E	FIXD	92203j407	1,208	22,071	SH		SOLE		21,840	0	231
iShares Barclays Aggregate Bon	FIXD	464287226	343	3,225	SH		SOLE		3,225	0	0
iShares Barclays TIPS Bond Fun	FIXD	464287176	657	5,825	SH		SOLE		4,065	0	1,760
iShares Core International Agg	FIXD	46435g672	4,336	82,285	SH		SOLE		82,000	0	285
iShares iBoxx Invest Grade Cor	FIXD	464287242	1,074	9,371	SH		SOLE		8,941	0	430
Gold Shares SPDR	CMDT	78463v107	635	5,352	SH		SOLE		4,982	0	370
Sprott Physical Gold and Silve	CMDT	85208r101	348	27,800	SH		SOLE		3,725	0	24,075
iShares Gold Trust	CMDT	464285105	233	19,367	SH		SOLE		16,952	0	2,415
DJ Wilshire Int'l Real Estate	REAL	78463x863	637	16,284	SH		SOLE		13,763	0	2,521
Invesco MSCI Global Timber ETF	REAL	46138e545	253	7,787	SH		SOLE		7,187	0	600
SPDR Dow Jones Global Real Est	REAL	78463x749	1,116	23,198	SH		SOLE		22,189	0	1,009
Weyerhaeuser Co.	REAL	962166104	244	6,698	SH		SOLE		6,698	0	0
iShares S&P Global Timber & Fo	REAL	464288174	505	6,462	SH		SOLE		5,932	0	530
ALPS Alerian MLP ETF	HEDG	00162q866	342	33,903	SH		SOLE		30,768	0	3,135
ProShares S&P 500 Index Invers	HEDG	74347r503	1,436	48,950	SH		SOLE		48,850	0	100
ProShares Short Russell2000	HEDG	74648a210	246	6,300	SH		SOLE		6,300	0	0