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
3M Company	COM	88579Y101	321	1,955	SH		SOLE		1,955	0	0
AT&T Inc	COM	00206r102	1,585	41,895	SH		SOLE		41,630	0	265
AbbVie Inc.	COM	00287y109	2,633	34,770	SH		SOLE		34,165	0	605
Abbott Labs	COM	002824100	1,043	12,460	SH		SOLE		11,950	0	510
Accenture	COM	g1151c101	923	4,800	SH		SOLE		4,415	0	385
Adient plc	COM	g0084w101	398	17,323	SH		SOLE		16,974	0	349
Alcon Inc	COM	h01301128	266	4,559	SH		SOLE		4,469	0	90
Allegheny Technologies	COM	01741r102	3,529	174,259	SH		SOLE		171,334	0	2,925
Alliant Energy	COM	018802108	2,254	41,796	SH		SOLE		41,039	0	757
Alphabet Inc. Class A	COM	02079k305	1,338	1,096	SH		SOLE		780	0	316
Alphabet Inc. Class C	COM	02079k107	4,563	3,743	SH		SOLE		3,290	0	453
Altria Group	COM	02209s103	248	6,052	SH		SOLE		6,052	0	0
Amazon.com	COM	023135106	1,811	1,043	SH		SOLE		1,009	0	34
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	1,329	6,867	SH		SOLE		6,432	0	435
Apache Corporation	COM	037411105	722	28,195	SH		SOLE		27,670	0	525
Apple Inc.	COM	037833100	5,237	23,384	SH		SOLE		22,813	0	571
Arrow Electronics	COM	042735100	539	7,232	SH		SOLE		7,232	0	0
BP p.l.c.	COM	055622104	376	9,895	SH		SOLE		9,745	0	150
Bank of America	COM	060505104	2,174	74,516	SH		SOLE		74,416	0	100
Bank of Montreal	COM	063671101	224	3,044	SH		SOLE		2,984	0	60
Berkshire Hathaway cl. A (1/10	COM	084990175	624	200	SH		SOLE		200	0	0
Berkshire Hathaway cl. B	COM	084670702	1,878	9,029	SH		SOLE		8,829	0	200
CVS Caremark Corp	COM	126650100	3,090	48,989	SH		SOLE		47,424	0	1,565
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Caterpillar Inc.	COM	149123101	443	3,505	SH		SOLE		3,505	0	0
Chevron Corp.	COM	166764100	1,831	15,436	SH		SOLE		14,706	0	730
Cisco Systems Inc.	COM	17275R102	2,551	51,623	SH		SOLE		50,598	0	1,025
Citigroup Inc.	COM	172967424	3,638	52,660	SH		SOLE		51,185	0	1,475
Coca-Cola Co.	COM	191216100	338	6,209	SH		SOLE		5,729	0	480
Colgate-Palmolive Co.	COM	194162103	681	9,265	SH		SOLE		8,865	0	400
Deere & Co	COM	244199105	386	2,290	SH		SOLE		2,290	0	0
Diebold, Incorporated	COM	253651103	291	26,025	SH		SOLE		26,025	0	0
Dominion Resources Inc.	COM	25746U109	334	4,123	SH		SOLE		3,853	0	270
Dow Inc.	COM	260557103	211	4,436	SH		SOLE		4,364	0	72
DuPont de Nemours, Inc.	COM	26614n102	316	4,436	SH		SOLE		4,364	0	72
Duke Energy	COM	26441C204	363	3,789	SH		SOLE		3,789	0	0
Exxon-Mobil	COM	30231G102	894	12,658	SH		SOLE		12,433	0	225
Facebook Inc.	COM	30303m102	453	2,546	SH		SOLE		2,046	0	500
Fastenal Co.	COM	311900104	370	11,336	SH		SOLE		10,736	0	600
Fidelity National Info Service	COM	31620m106	298	2,246	SH		SOLE		2,246	0	0
Fiserv Inc.	COM	337738108	3,868	37,337	SH		SOLE		36,537	0	800
Gardner Denver Holdings, Inc.	COM	36555p107	243	8,572	SH		SOLE		8,572	0	0
General Dynamics	COM	369550108	466	2,550	SH		SOLE		2,525	0	25
General Electric Co.	COM	369604103	1,424	159,258	SH		SOLE		156,223	0	3,035
Genuine Parts	COM	372460105	519	5,211	SH		SOLE		5,011	0	200
Gilead Sciences	COM	375558103	372	5,871	SH		SOLE		5,766	0	105
Helen of Troy, Ltd	COM	g4388n106	2,722	17,263	SH		SOLE		16,618	0	645
Hershey Foods Corp	COM	427866108	310	2,000	SH		SOLE		2,000	0	0
Home Depot Inc.	COM	437076102	346	1,492	SH		SOLE		1,492	0	0
Illumina, Inc	COM	452327109	860	2,827	SH		SOLE		2,811	0	16
Intel Corp.	COM	458140100	2,535	49,195	SH		SOLE		48,050	0	1,145
Intl Business Mach. Corp.	COM	459200101	652	4,486	SH		SOLE		4,326	0	160
J.P. Morgan Chase	COM	46625H100	3,712	31,537	SH		SOLE		30,951	0	586
Johnson & Johnson	COM	478160104	4,232	32,708	SH		SOLE		31,773	0	935
Johnson Controls Intl plc	COM	G51502105	753	17,160	SH		SOLE		15,403	0	1,757
Kimberly-Clark Corp.	COM	494368103	1,925	13,548	SH		SOLE		13,328	0	220
Kohl's Corp.	COM	500255104	851	17,141	SH		SOLE		16,816	0	325
Lockheed Martin Corp.	COM	539830109	353	905	SH		SOLE		905	0	0
MGE Energy	COM	55277p104	2,312	28,942	SH		SOLE		28,792	0	150
MGIC Investment Corp.	COM	552848103	3,581	284,634	SH		SOLE		278,619	0	6,015
McDonald's	COM	580135101	1,382	6,437	SH		SOLE		6,332	0	105
Medtronic plc	COM	g5960l103	2,567	23,634	SH		SOLE		22,634	0	1,000
Merck & Co. Inc.	COM	58933y105	282	3,354	SH		SOLE		3,114	0	240
Microsoft Corp.	COM	594918104	5,989	43,074	SH		SOLE		41,909	0	1,165
Modine Manufacturing	COM	607828100	1,517	133,398	SH		SOLE		130,948	0	2,450
NVidia Corp	COM	67066G104	493	2,832	SH		SOLE		2,792	0	40
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
NextEra Energy, Inc.	COM	65339f101	218	936	SH		SOLE		936	0	0
Nordstrom Inc.	COM	655664100	387	11,480	SH		SOLE		11,240	0	240
Novartis AG	COM	66987v109	1,103	12,690	SH		SOLE		12,455	0	235
Occidental Petroleum	COM	674599105	287	6,459	SH		SOLE		6,415	0	44
Olin Corp	COM	680665205	2,208	117,948	SH		SOLE		116,253	0	1,695
Oracle Corp.	COM	68389X105	859	15,601	SH		SOLE		14,911	0	690
Oshkosh Corp	COM	688239201	249	3,290	SH		SOLE		3,290	0	0
Owens-Illinois, Inc.	COM	690768403	1,243	121,015	SH		SOLE		120,540	0	475
PayPal Holdings, Inc.	COM	70450y103	1,243	12,003	SH		SOLE		11,903	0	100
Paychex	COM	704326107	344	4,155	SH		SOLE		4,155	0	0
Pepsico Inc.	COM	713448108	3,415	24,905	SH		SOLE		24,255	0	650
Pfizer Inc.	COM	717081103	1,085	30,198	SH		SOLE		29,848	0	350
Philip Morris International	COM	718172109	232	3,049	SH		SOLE		2,874	0	175
Procter & Gamble Co.	COM	742718109	1,715	13,790	SH		SOLE		13,120	0	670
Prudential Financial, Inc.	COM	744320102	1,283	14,259	SH		SOLE		13,474	0	785
Quad/Graphics, Inc.	COM	747301109	2,610	248,324	SH		SOLE		241,644	0	6,680
Qualcomm Inc.	COM	747525103	1,475	19,340	SH		SOLE		18,925	0	415
RPM Inc.	COM	749685103	1,880	27,316	SH		SOLE		26,516	0	800
Range Resources	COM	75281a109	752	196,938	SH		SOLE		195,318	0	1,620
Regal-Beloit Corp.	COM	758750103	281	3,859	SH		SOLE		3,259	0	600
Rockwell Automation	COM	773903109	355	2,155	SH		SOLE		2,155	0	0
Sandspring Resources Ltd.	COM	800110504	4	14,000	SH		SOLE		14,000	0	0
Schlumberger Ltd.	COM	806857108	1,166	34,136	SH		SOLE		32,261	0	1,875
Stanley Black & Decker, Inc.	COM	854502101	2,426	16,802	SH		SOLE		16,347	0	455
Target Corp.	COM	87612E106	766	7,162	SH		SOLE		7,162	0	0
The Walt Disney Co.	COM	254687106	635	4,873	SH		SOLE		4,873	0	0
Turquoise Hill Resources Ltd.	COM	900435108	22	46,003	SH		SOLE		46,003	0	0
U.S. Bancorp	COM	902973304	360	6,510	SH		SOLE		6,210	0	300
UnitedHealth Group Inc	COM	91324p102	1,682	7,740	SH		SOLE		7,672	0	68
VF Corp	COM	918204108	1,192	13,389	SH		SOLE		12,424	0	965
VanEck Vectors Oil Services ET	COM	92189f718	243	20,700	SH		SOLE		20,300	0	400
Verizon	COM	92343V104	4,638	76,842	SH		SOLE		75,342	0	1,500
Visa Inc.	COM	92826c839	237	1,375	SH		SOLE		1,215	0	160
WD 40 Company	COM	929236107	328	1,785	SH		SOLE		1,785	0	0
WEC Energy Group, Inc.	COM	92939u106	2,708	28,479	SH		SOLE		27,654	0	825
Wal-Mart Stores Inc.	COM	931142103	590	4,971	SH		SOLE		4,921	0	50
Walgreens Boots Alliance	COM	931427108	1,259	22,762	SH		SOLE		22,112	0	650
Weatherford International	COM	g48833100	1	35,975	SH		SOLE		34,975	0	1,000
Wells Fargo & Co.	COM	949746101	422	8,362	SH		SOLE		7,687	0	675
Western Digital Corporation	COM	958102105	2,232	37,431	SH		SOLE		37,046	0	385
XCel Energy Inc.	COM	98389b100	563	8,672	SH		SOLE		8,672	0	0
YUM! Brands, Inc.	COM	988498101	330	2,909	SH		SOLE		2,729	0	180
Duff & Phelps Select Income Fu	ETF	23325P104	328	25,473	SH		SOLE		24,198	0	1,275
Invesco NASDAQ 100 Index Track	ETF	46090e103	274	1,449	SH		SOLE		1,449	0	0
Madison Covered Call&Equity St	ETF	557437100	232	36,319	SH		SOLE		33,019	0	3,300
MidCap SPDRs	ETF	78467y107	284	807	SH		SOLE		807	0	0
S&P 500/Barra Value (iShares)	ETF	464287408	225	1,885	SH		SOLE		1,815	0	70
S&P Dep Receipts	ETF	78462f103	569	1,916	SH		SOLE		1,706	0	210
SPDR Dow Jones Industrial Aver	ETF	78467x109	419	1,555	SH		SOLE		1,555	0	0
SPDR Portfolio Mid Cap ETF	ETF	78464A847	1,811	53,428	SH		SOLE		53,375	0	53
SPDR S&P 500 Growth ETF	ETF	78464A409	7,261	186,699	SH		SOLE		186,490	0	209
SPDR S&P 500 Value ETF	ETF	78464A508	4,493	140,581	SH		SOLE		140,403	0	178
Schwab U.S. Large-Cap ETF	ETF	808524201	611	8,620	SH		SOLE		8,620	0	0
Schwab U.S. Large-Cap Growth E	ETF	808524300	572	6,805	SH		SOLE		6,354	0	451
Schwab U.S. Large-Cap Value ET	ETF	808524409	235	4,148	SH		SOLE		4,086	0	62
Vanguard High Dividend Yield I	ETF	921946406	240	2,709	SH		SOLE		2,709	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	560	4,223	SH		SOLE		4,223	0	0
Vanguard Mid Cap ETF	ETF	922908629	245	1,461	SH		SOLE		1,461	0	0
Vanguard Value ETF	ETF	922908744	235	2,101	SH		SOLE		2,101	0	0
iShares Russell Growth Midcap	ETF	464287481	202	1,428	SH		SOLE		1,428	0	0
iShares Russell Midcap Value I	ETF	464287473	209	2,334	SH		SOLE		2,314	0	20
S&P 600/Barra Growth Index (iS	SMLC	464287887	1,756	9,845	SH		SOLE		9,524	0	321
S&P 600/Barra Value Index (iSh	SMLC	464287879	1,741	11,592	SH		SOLE		11,269	0	323
SPDR Portfolio Small Cap ETF	SMLC	78468R853	2,851	95,049	SH		SOLE		95,013	0	36
Schwab U.S. Small-Cap ETF	SMLC	808524607	572	8,206	SH		SOLE		7,790	0	416
Vanguard Small Cap ETF	SMLC	922908751	434	2,821	SH		SOLE		2,821	0	0
WisdomTree SmallCap Dividend E	SMLC	97717w604	201	7,356	SH		SOLE		7,356	0	0
iShares S&P SmallCap 600 Index	SMLC	464287804	411	5,279	SH		SOLE		5,279	0	0
China-H FTSE/Xinhua 25 Index (	INTL	464287184	240	6,034	SH		SOLE		5,209	0	825
Europe/Australia/Far-East Inde	INTL	464287465	503	7,715	SH		SOLE		7,164	0	551
Invesco Frontier Markets ETF	INTL	46138e776	374	27,435	SH		SOLE		26,435	0	1,000
MSCI Emerging Markets Index (i	INTL	464287234	460	11,251	SH		SOLE		10,796	0	455
MSCI Japan Index (iShares)	INTL	46434g822	278	4,894	SH		SOLE		4,608	0	286
SPDR Portfolio Emerging Market	INTL	78463X509	2,696	78,651	SH		SOLE		78,367	0	284
SPDR S&P World ex-US ETF	INTL	78463X889	1,991	67,822	SH		SOLE		67,422	0	400
Schwab Emerging Markets Equity	INTL	808524706	511	20,337	SH		SOLE		19,763	0	574
Schwab International Equity ET	INTL	808524805	823	25,846	SH		SOLE		24,321	0	1,525
Vanguard Emerging Markets Stoc	INTL	922042858	1,232	30,612	SH		SOLE		30,062	0	550
Vanguard FTSE Developed Market	INTL	921943858	2,178	53,007	SH		SOLE		50,682	0	2,325
Wisdom Tree Japan Hedged Equit	INTL	97717W851	492	9,745	SH		SOLE		9,160	0	585
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	1,161	23,343	SH		SOLE		22,718	0	625
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	650	15,727	SH		SOLE		15,277	0	450
WisdomTree Int'l Hedged Divide	INTL	97717x594	428	12,721	SH		SOLE		12,296	0	425
iShares MSCI All Country Asia	INTL	464288182	545	8,218	SH		SOLE		7,506	0	712
BlackRock Int. Duration Munici	FIXD	09253X102	1,169	82,423	SH		SOLE		79,283	0	3,140
BlackRock MuniAssets Fund	FIXD	09254j102	1,216	78,545	SH		SOLE		76,545	0	2,000
Calamos Convertible & High Inc	FIXD	12811p108	506	46,009	SH		SOLE		41,834	0	4,175
Eaton Vance Limited Duration I	FIXD	27828H105	384	30,756	SH		SOLE		27,706	0	3,050
Invesco CEF Income Composite E	FIXD	46138e404	1,480	65,470	SH		SOLE		57,330	0	8,140
Invesco Ultra Short-Duration E	FIXD	46090a887	313	6,215	SH		SOLE		5,215	0	1,000
Nuveen Dividend Advantage Muni	FIXD	67071l106	176	10,525	SH		SOLE		10,525	0	0
Nuveen Municipal Value Fund In	FIXD	670928100	330	31,400	SH		SOLE		31,400	0	0
PIMCO Corporate Opportunity Fu	FIXD	72201b101	538	29,645	SH		SOLE		28,395	0	1,250
PIMCO Enhanced Short Maturity	FIXD	72201r833	662	6,505	SH		SOLE		6,155	0	350
Putnam Master Intrm Inc Tr	FIXD	746909100	73	15,900	SH		SOLE		15,900	0	0
SPDR Lehman Municipal Bond ETF	FIXD	78468r721	231	4,558	SH		SOLE		4,558	0	0
SPDR Portfolio Aggregate Bond	FIXD	78464a649	3,438	116,001	SH		SOLE		115,577	0	424
SPDR Short Term Municipal Bond	FIXD	78468r739	845	17,244	SH		SOLE		17,244	0	0
Schwab US Aggregate Bond ETF	FIXD	808524839	495	9,201	SH		SOLE		8,597	0	604
Templeton Global Income Fund	FIXD	880198106	215	35,050	SH		SOLE		7,900	0	27,150
Vanguard Intermediate-Term Bon	FIXD	921937819	307	3,493	SH		SOLE		818	0	2,675
Vanguard Total Intl Bond Ind E	FIXD	92203j407	992	16,860	SH		SOLE		16,655	0	205
WisdomTree Floating Rate Treas	FIXD	97717X628	1,157	46,201	SH		SOLE		45,861	0	340
iShares Barclays Aggregate Bon	FIXD	464287226	226	1,995	SH		SOLE		1,995	0	0
iShares Barclays TIPS Bond Fun	FIXD	464287176	567	4,878	SH		SOLE		3,898	0	980
iShares Core International Agg	FIXD	46435g672	5,598	100,339	SH		SOLE		100,127	0	212
iShares iBoxx Invest Grade Cor	FIXD	464287242	1,059	8,305	SH		SOLE		8,060	0	245
Gold Shares SPDR	CMDT	78463v107	720	5,184	SH		SOLE		4,764	0	420
Sprott Physical Gold and Silve	CMDT	85208r101	352	24,875	SH		SOLE		2,325	0	22,550
iShares Gold Trust	CMDT	464285105	316	22,424	SH		SOLE		19,324	0	3,100
DJ Wilshire Int'l Real Estate	REAL	78463x863	783	19,806	SH		SOLE		17,626	0	2,180
SPDR Dow Jones Global Real Est	REAL	78463x749	1,192	22,987	SH		SOLE		22,448	0	539
iShares S&P Global Timber & Fo	REAL	464288174	410	6,994	SH		SOLE		6,537	0	457
ALPS Alerian MLP ETF	HEDG	00162q866	280	30,687	SH		SOLE		27,902	0	2,785
ProShares S&P 500 Index Invers	HEDG	74347b425	2,476	94,753	SH		SOLE		94,153	0	600
ProShares Short Russell2000	HEDG	74648a210	287	7,069	SH		SOLE		7,069	0	0