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
hours per response:		23.8

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	1,226	42,949	SH		SOLE		42,684	0	265
AbbVie Inc.	COM	00287y109	4,235	45,937	SH		SOLE		45,007	0	930
Abbott Labs	COM	002824100	927	12,810	SH		SOLE		12,300	0	510
Accenture	COM	g1151c101	674	4,783	SH		SOLE		4,398	0	385
Adient plc	COM	g0084w101	320	21,230	SH		SOLE		20,864	0	366
AdvisorShares Ranger Equity Be	COM	00768y883	114	13,540	SH		SOLE		12,540	0	1,000
Allegheny Technologies	COM	01741r102	3,886	178,484	SH		SOLE		175,384	0	3,100
Alliant Energy	COM	018802108	1,901	44,991	SH		SOLE		44,059	0	932
Alphabet Inc. Class A	COM	02079k305	1,219	1,167	SH		SOLE		845	0	322
Alphabet Inc. Class C	COM	02079k107	3,803	3,672	SH		SOLE		3,219	0	453
Altria Group	COM	02209s103	261	5,276	SH		SOLE		5,276	0	0
Amazon.com	COM	023135106	1,117	744	SH		SOLE		717	0	27
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	1,348	6,924	SH		SOLE		6,489	0	435
Apache Corporation	COM	037411105	818	31,170	SH		SOLE		30,445	0	725
Apple Inc.	COM	037833100	3,495	22,154	SH		SOLE		21,555	0	599
Arrow Electronics	COM	042735100	1,069	15,507	SH		SOLE		15,507	0	0
BP p.l.c.	COM	055622104	365	9,634	SH		SOLE		9,484	0	150
Babcock & Wilcox Enterprises,	COM	05614l100	5	13,280	SH		SOLE		13,280	0	0
Bank of America	COM	060505104	1,965	79,751	SH		SOLE		79,651	0	100
Bank of Montreal	COM	063671101	231	3,528	SH		SOLE		3,468	0	60
Berkshire Hathaway cl. A (1/10	COM	084990175	612	200	SH		SOLE		200	0	0
Berkshire Hathaway cl. B	COM	084670702	1,762	8,631	SH		SOLE		8,431	0	200
CVS Caremark Corp	COM	126650100	3,984	60,806	SH		SOLE		59,736	0	1,070
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Caterpillar Inc.	COM	149123101	471	3,705	SH		SOLE		3,705	0	0
Chesapeake Energy	COM	165167107	230	109,600	SH		SOLE		109,600	0	0
Chevron Corp.	COM	166764100	1,659	15,249	SH		SOLE		14,509	0	740
Cisco Systems Inc.	COM	17275R102	2,193	50,622	SH		SOLE		49,362	0	1,260
Citigroup Inc.	COM	172967424	3,307	63,517	SH		SOLE		62,067	0	1,450
Coca-Cola Co.	COM	191216100	302	6,384	SH		SOLE		5,829	0	555
Colgate-Palmolive Co.	COM	194162103	632	10,610	SH		SOLE		10,210	0	400
Deere & Co	COM	244199105	371	2,490	SH		SOLE		2,490	0	0
Diebold, Incorporated	COM	253651103	75	29,925	SH		SOLE		29,925	0	0
Dominion Resources Inc.	COM	25746U109	359	5,022	SH		SOLE		4,732	0	290
DowDuPont Inc.	COM	26078j100	722	13,492	SH		SOLE		13,275	0	217
Duke Energy	COM	26441C204	326	3,772	SH		SOLE		3,772	0	0
Exxon-Mobil	COM	30231G102	877	12,858	SH		SOLE		12,633	0	225
Facebook Inc.	COM	30303m102	333	2,542	SH		SOLE		2,042	0	500
Fastenal Co.	COM	311900104	313	5,993	SH		SOLE		5,693	0	300
Fidelity National Info Service	COM	31620m106	230	2,246	SH		SOLE		2,246	0	0
Fiserv Inc.	COM	337738108	2,904	39,512	SH		SOLE		38,442	0	1,070
General Dynamics	COM	369550108	380	2,420	SH		SOLE		2,395	0	25
General Electric Co.	COM	369604103	1,338	176,690	SH		SOLE		171,255	0	5,435
Genuine Parts	COM	372460105	536	5,587	SH		SOLE		5,387	0	200
Gilead Sciences	COM	375558103	1,690	27,017	SH		SOLE		26,412	0	605
Helen of Troy, Ltd	COM	g4388n106	2,828	21,557	SH		SOLE		20,877	0	680
Hershey Foods Corp	COM	427866108	214	2,000	SH		SOLE		2,000	0	0
Home Depot Inc.	COM	437076102	276	1,609	SH		SOLE		1,609	0	0
Intel Corp.	COM	458140100	3,102	66,090	SH		SOLE		64,865	0	1,225
Intl Business Mach. Corp.	COM	459200101	594	5,230	SH		SOLE		5,045	0	185
J.P. Morgan Chase	COM	46625H100	3,380	34,625	SH		SOLE		34,204	0	421
Johnson & Johnson	COM	478160104	4,016	31,123	SH		SOLE		30,188	0	935
Johnson Controls Intl plc	COM	G51502105	1,251	42,206	SH		SOLE		39,434	0	2,772
Kimberly-Clark Corp.	COM	494368103	1,558	13,674	SH		SOLE		13,454	0	220
Kohl's Corp.	COM	500255104	2,659	40,087	SH		SOLE		39,297	0	790
Linde Plc	COM	g5494j103	289	1,851	SH		SOLE		1,811	0	40
Lockheed Martin Corp.	COM	539830109	237	905	SH		SOLE		905	0	0
MGE Energy	COM	55277p104	1,760	29,356	SH		SOLE		29,206	0	150
MGIC Investment Corp.	COM	552848103	4,060	388,110	SH		SOLE		381,800	0	6,310
McDonald's	COM	580135101	1,182	6,658	SH		SOLE		6,553	0	105
Medtronic plc	COM	g5960l103	2,170	23,857	SH		SOLE		22,822	0	1,035
Merck & Co. Inc.	COM	58933y105	253	3,309	SH		SOLE		3,069	0	240
Metlife Inc	COM	59156R108	1,260	30,675	SH		SOLE		30,675	0	0
Microsoft Corp.	COM	594918104	4,065	40,023	SH		SOLE		38,858	0	1,165
Minnesota Mining & Manufacturi	COM	88579Y101	369	1,936	SH		SOLE		1,936	0	0
Modine Manufacturing	COM	607828100	2,432	224,966	SH		SOLE		222,291	0	2,675
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
Nordstrom Inc.	COM	655664100	299	6,424	SH		SOLE		6,169	0	255
Novartis AG	COM	66987v109	1,129	13,158	SH		SOLE		12,908	0	250
Occidental Petroleum	COM	674599105	376	6,133	SH		SOLE		6,133	0	0
Olin Corp	COM	680665205	2,533	125,946	SH		SOLE		124,126	0	1,820
Oracle Corp.	COM	68389X105	793	17,571	SH		SOLE		16,521	0	1,050
Owens-Illinois, Inc.	COM	690768403	4,282	248,395	SH		SOLE		245,210	0	3,185
PayPal Holdings, Inc.	COM	70450y103	676	8,034	SH		SOLE		7,959	0	75
Paychex	COM	704326107	290	4,450	SH		SOLE		4,425	0	25
Pepsico Inc.	COM	713448108	1,761	15,938	SH		SOLE		15,378	0	560
Pfizer Inc.	COM	717081103	1,354	31,010	SH		SOLE		30,510	0	500
Philip Morris International	COM	718172109	210	3,149	SH		SOLE		2,974	0	175
Procter & Gamble Co.	COM	742718109	1,292	14,055	SH		SOLE		13,235	0	820
Prudential Financial, Inc.	COM	744320102	1,286	15,764	SH		SOLE		14,979	0	785
Quad/Graphics, Inc.	COM	747301109	1,879	152,480	SH		SOLE		144,850	0	7,630
Qualcomm Inc.	COM	747525103	1,481	26,030	SH		SOLE		25,710	0	320
RPM Inc.	COM	749685103	1,600	27,222	SH		SOLE		26,447	0	775
Range Resources	COM	75281a109	1,649	172,345	SH		SOLE		170,645	0	1,700
Regal-Beloit Corp.	COM	758750103	2,156	30,772	SH		SOLE		29,967	0	805
Rockwell Automation	COM	773903109	369	2,455	SH		SOLE		2,455	0	0
Sandspring Resources Ltd.	COM	800110504	4	19,000	SH		SOLE		19,000	0	0
Schlumberger Ltd.	COM	806857108	370	10,250	SH		SOLE		9,425	0	825
Stanley Black & Decker, Inc.	COM	854502101	2,009	16,780	SH		SOLE		16,525	0	255
Tesla Motors, Inc.	COM	88160R101	217	653	SH		SOLE		653	0	0
Teva Pharmaceutical Ind.	COM	881624209	174	11,297	SH		SOLE		8,667	0	2,630
U.S. Bancorp	COM	902973304	392	8,585	SH		SOLE		8,285	0	300
UnitedHealth Group Inc	COM	91324p102	699	2,806	SH		SOLE		2,806	0	0
VF Corp	COM	918204108	988	13,855	SH		SOLE		12,725	0	1,130
VanEck Vectors Oil Services ET	COM	92189f718	311	22,175	SH		SOLE		21,725	0	450
Verizon	COM	92343V104	4,551	80,957	SH		SOLE		79,132	0	1,825
WD 40 Company	COM	929236107	327	1,785	SH		SOLE		1,785	0	0
WEC Energy Group, Inc.	COM	92939u106	2,075	29,957	SH		SOLE		28,932	0	1,025
Wal-Mart Stores Inc.	COM	931142103	471	5,052	SH		SOLE		5,002	0	50
Walgreens Boots Alliance	COM	931427108	1,206	17,655	SH		SOLE		17,055	0	600
Walt Disney Productions	COM	254687106	527	4,807	SH		SOLE		4,807	0	0
Weatherford International	COM	g48833100	221	395,294	SH		SOLE		385,709	0	9,585
Wells Fargo & Co.	COM	949746101	471	10,211	SH		SOLE		9,436	0	775
Western Digital Corporation	COM	958102105	1,315	35,577	SH		SOLE		35,067	0	510
XCel Energy Inc.	COM	98389b100	427	8,672	SH		SOLE		8,672	0	0
YUM! Brands, Inc.	COM	988498101	271	2,949	SH		SOLE		2,769	0	180
Duff & Phelps Select Income Fu	ETF	23325P104	338	32,504	SH		SOLE		30,729	0	1,775
Invesco NASDAQ 100 Index Track	ETF	46090e103	266	1,724	SH		SOLE		1,724	0	0
Madison Covered Call&Equity St	ETF	557mcn105	288	46,732	SH		SOLE		42,859	0	3,873
MidCap SPDRs	ETF	78467y107	249	822	SH		SOLE		822	0	0
S&P Dep Receipts	ETF	78462f103	374	1,498	SH		SOLE		1,498	0	0
SPDR Dow Jones Industrial Aver	ETF	78467x109	366	1,570	SH		SOLE		1,570	0	0
SPDR Portfolio Mid Cap ETF	ETF	78464A847	1,378	46,822	SH		SOLE		46,658	0	164
SPDR S&P 500 Growth ETF	ETF	78464A409	4,569	140,591	SH		SOLE		139,891	0	700
SPDR S&P 500 Value ETF	ETF	78464A508	2,755	101,439	SH		SOLE		100,356	0	1,083
Schwab U.S. Large-Cap Growth E	ETF	808524300	1,506	21,841	SH		SOLE		21,322	0	519
Schwab U.S. Large-Cap Value ET	ETF	808524409	819	16,608	SH		SOLE		16,481	0	127
Vanguard High Dividend Yield I	ETF	921946406	249	3,194	SH		SOLE		3,194	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	494	4,617	SH		SOLE		4,617	0	0
S&P 600/Barra Growth Index (iS	SMLC	464287887	1,557	9,654	SH		SOLE		9,339	0	315
S&P 600/Barra Value Index (iSh	SMLC	464287879	1,449	10,992	SH		SOLE		10,689	0	303
SPDR Portfolio Small Cap ETF	SMLC	78468R853	1,974	74,899	SH		SOLE		74,763	0	136
Schwab U.S. Small-Cap ETF	SMLC	808524607	766	12,626	SH		SOLE		12,221	0	405
Vanguard Small Cap ETF	SMLC	922908751	357	2,708	SH		SOLE		2,708	0	0
iShares S&P SmallCap 600 Index	SMLC	464287804	402	5,795	SH		SOLE		5,795	0	0
China-H FTSE/Xinhua 25 Index (	INTL	464287184	249	6,362	SH		SOLE		5,537	0	825
Europe/Australia/Far-East Inde	INTL	464287465	461	7,836	SH		SOLE		7,572	0	264
Invesco Frontier Markets ETF	INTL	46138e776	315	25,890	SH		SOLE		24,890	0	1,000
MSCI Emerging Markets Index (i	INTL	464287234	458	11,726	SH		SOLE		11,271	0	455
MSCI Japan Index (iShares)	INTL	46434g822	260	5,129	SH		SOLE		4,894	0	235
SPDR Portfolio Emerging Market	INTL	78463X509	1,930	59,638	SH		SOLE		59,614	0	24
SPDR S&P World ex-US ETF	INTL	78463X889	1,589	60,064	SH		SOLE		59,664	0	400
Schwab Emerging Markets Equity	INTL	808524706	762	32,364	SH		SOLE		31,746	0	618
Schwab International Equity ET	INTL	808524805	715	25,217	SH		SOLE		23,892	0	1,325
Vanguard Emerging Markets Stoc	INTL	922042858	1,195	31,356	SH		SOLE		30,856	0	500
Vanguard FTSE Developed Market	INTL	921943858	1,991	53,656	SH		SOLE		51,331	0	2,325
Wisdom Tree Japan Hedged Equit	INTL	97717W851	521	11,240	SH		SOLE		10,655	0	585
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	1,013	21,747	SH		SOLE		21,222	0	525
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	626	15,601	SH		SOLE		15,151	0	450
WisdomTree Int'l Hedged Divide	INTL	97717x594	462	16,591	SH		SOLE		15,966	0	625
iShares MSCI All Country Asia	INTL	464288182	531	8,363	SH		SOLE		7,651	0	712
BlackRock Int. Duration Munici	FIXD	09253X102	1,094	86,498	SH		SOLE		83,358	0	3,140
BlackRock MuniAssets Fund	FIXD	09254j102	1,085	84,307	SH		SOLE		82,307	0	2,000
Calamos Convertible & High Inc	FIXD	12811p108	467	49,694	SH		SOLE		45,319	0	4,375
Eaton Vance Limited Duration I	FIXD	27828H105	528	44,261	SH		SOLE		40,161	0	4,100
Invesco CEF Income Composite E	FIXD	46138e404	1,347	66,600	SH		SOLE		56,685	0	9,915
Invesco Ultra Short-Duration E	FIXD	46090a887	394	7,865	SH		SOLE		6,865	0	1,000
Nuveen Municipal Value Fund In	FIXD	670928100	293	31,600	SH		SOLE		31,600	0	0
PIMCO Corporate Opportunity Fu	FIXD	72201b101	477	31,070	SH		SOLE		29,720	0	1,350
PIMCO Enhanced Short Maturity	FIXD	72201r833	737	7,305	SH		SOLE		6,955	0	350
Putnam Master Intrm Inc Tr	FIXD	746909100	63	14,800	SH		SOLE		14,800	0	0
SPDR Nuveen S&P High Yield Mun	FIXD	78464A284	273	4,864	SH		SOLE		4,864	0	0
SPDR Portfolio Aggregate Bond	FIXD	78464a649	2,518	90,411	SH		SOLE		89,490	0	921
SPDR Short Term Municipal Bond	FIXD	78468r739	881	18,333	SH		SOLE		18,333	0	0
Schwab US Aggregate Bond ETF	FIXD	808524839	1,207	23,864	SH		SOLE		23,196	0	668
Templeton Global Income Fund	FIXD	880198106	254	42,150	SH		SOLE		10,400	0	31,750
Vanguard Intermediate-Term Bon	FIXD	921937819	401	4,933	SH		SOLE		1,418	0	3,515
Vanguard Short-Term Bond ETF	FIXD	921937827	245	3,116	SH		SOLE		1,596	0	1,520
Vanguard Total Intl Bond Ind E	FIXD	92203j407	1,280	23,592	SH		SOLE		23,361	0	231
WisdomTree Floating Rate Treas	FIXD	97717X628	735	29,321	SH		SOLE		28,031	0	1,290
iShares Barclays Aggregate Bon	FIXD	464287226	274	2,574	SH		SOLE		2,574	0	0
iShares Barclays TIPS Bond Fun	FIXD	464287176	545	4,974	SH		SOLE		3,634	0	1,340
iShares Core International Agg	FIXD	46435g672	4,517	86,516	SH		SOLE		86,123	0	393
iShares iBoxx Invest Grade Cor	FIXD	464287242	1,025	9,089	SH		SOLE		8,659	0	430
Gold Shares SPDR	CMDT	78463v107	642	5,297	SH		SOLE		4,927	0	370
Sprott Physical Gold and Silve	CMDT	85208r101	335	26,725	SH		SOLE		3,325	0	23,400
iShares Gold Trust	CMDT	464285105	246	20,027	SH		SOLE		17,577	0	2,450
DJ Wilshire Int'l Real Estate	REAL	78463x863	643	18,187	SH		SOLE		15,666	0	2,521
SPDR Dow Jones Global Real Est	REAL	78463x749	1,062	23,992	SH		SOLE		23,153	0	839
iShares S&P Global Timber & Fo	REAL	464288174	357	6,242	SH		SOLE		5,712	0	530
ALPS Alerian MLP ETF	HEDG	00162q866	296	33,871	SH		SOLE		30,736	0	3,135
ProShares S&P 500 Index Invers	HEDG	74347b425	2,501	79,839	SH		SOLE		79,304	0	535
iPath S&P 500 VIX ST Futures E	HEDG	06746l422	202	4,315	SH		SOLE		4,278	0	37