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	345	1,955	SH		SOLE		1,955	0	0
AT&T Inc	COM	00206r102	1,612	41,251	SH		SOLE		41,086	0	165
AbbVie Inc.	COM	00287y109	3,249	36,699	SH		SOLE		35,669	0	1,030
Abbott Labs	COM	002824100	1,077	12,398	SH		SOLE		11,888	0	510
Accenture	COM	g1151c101	1,021	4,850	SH		SOLE		4,465	0	385
Alcon Inc	COM	h01301128	229	4,053	SH		SOLE		3,963	0	90
Allegheny Technologies	COM	01741r102	2,808	135,929	SH		SOLE		133,234	0	2,695
Alliant Energy	COM	018802108	2,092	38,229	SH		SOLE		37,507	0	722
Alphabet Inc. Class A	COM	02079k305	1,495	1,116	SH		SOLE		744	0	372
Alphabet Inc. Class C	COM	02079k107	6,295	4,708	SH		SOLE		3,263	0	1,445
Altria Group	COM	02209s103	299	5,992	SH		SOLE		5,992	0	0
Amazon.com	COM	023135106	1,785	966	SH		SOLE		934	0	32
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	1,617	6,707	SH		SOLE		6,392	0	315
Apache Corporation	COM	037411105	514	20,089	SH		SOLE		19,879	0	210
Apple Inc.	COM	037833100	6,887	23,454	SH		SOLE		22,898	0	556
Arrow Electronics	COM	042735100	508	6,000	SH		SOLE		6,000	0	0
BP p.l.c.	COM	055622104	369	9,765	SH		SOLE		9,615	0	150
Bank of America	COM	060505104	1,812	51,449	SH		SOLE		51,349	0	100
Bank of Montreal	COM	063671101	234	3,021	SH		SOLE		2,961	0	60
Berkshire Hathaway cl. A (1/10	COM	084990175	679	200	SH		SOLE		200	0	0
Berkshire Hathaway cl. B	COM	084670702	2,538	11,204	SH		SOLE		10,944	0	260
Bristol-Myers Squibb	COM	110122108	283	4,408	SH		SOLE		4,408	0	0
CVS Caremark Corp	COM	126650100	3,696	49,745	SH		SOLE		48,180	0	1,565
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Caterpillar Inc.	COM	149123101	561	3,800	SH		SOLE		3,745	0	55
Chevron Corp.	COM	166764100	1,783	14,798	SH		SOLE		14,068	0	730
Cisco Systems Inc.	COM	17275R102	2,189	45,646	SH		SOLE		44,731	0	915
Citigroup Inc.	COM	172967424	4,021	50,332	SH		SOLE		48,882	0	1,450
Coca-Cola Co.	COM	191216100	344	6,209	SH		SOLE		5,729	0	480
Colgate-Palmolive Co.	COM	194162103	617	8,965	SH		SOLE		8,565	0	400
Deere & Co	COM	244199105	430	2,479	SH		SOLE		2,479	0	0
Diebold, Incorporated	COM	253651103	275	26,025	SH		SOLE		26,025	0	0
Dominion Resources Inc.	COM	25746U109	327	3,952	SH		SOLE		3,682	0	270
Dow Inc.	COM	260557103	224	4,098	SH		SOLE		4,026	0	72
DuPont de Nemours, Inc.	COM	26614n102	267	4,164	SH		SOLE		4,092	0	72
Duke Energy	COM	26441C204	297	3,251	SH		SOLE		3,251	0	0
Exxon-Mobil	COM	30231G102	796	11,404	SH		SOLE		11,179	0	225
Facebook Inc.	COM	30303m102	505	2,461	SH		SOLE		1,961	0	500
Fastenal Co.	COM	311900104	424	11,476	SH		SOLE		10,876	0	600
Fidelity National Info Service	COM	31620m106	314	2,261	SH		SOLE		2,261	0	0
Fiserv Inc.	COM	337738108	4,534	39,207	SH		SOLE		38,402	0	805
Gardner Denver Holdings, Inc.	COM	36555p107	314	8,572	SH		SOLE		8,572	0	0
General Dynamics	COM	369550108	454	2,575	SH		SOLE		2,550	0	25
General Electric Co.	COM	369604103	1,668	149,498	SH		SOLE		147,163	0	2,335
Genuine Parts	COM	372460105	546	5,136	SH		SOLE		4,936	0	200
Gilead Sciences	COM	375558103	329	5,066	SH		SOLE		5,041	0	25
Helen of Troy, Ltd	COM	g4388n106	2,565	14,268	SH		SOLE		13,648	0	620
Hershey Foods Corp	COM	427866108	294	2,000	SH		SOLE		2,000	0	0
Home Depot Inc.	COM	437076102	333	1,527	SH		SOLE		1,527	0	0
Illumina, Inc	COM	452327109	1,189	3,583	SH		SOLE		3,542	0	41
Intel Corp.	COM	458140100	3,472	58,003	SH		SOLE		56,703	0	1,300
Intl Business Mach. Corp.	COM	459200101	499	3,722	SH		SOLE		3,592	0	130
J.P. Morgan Chase	COM	46625H100	3,479	24,957	SH		SOLE		24,496	0	461
Johnson & Johnson	COM	478160104	4,693	32,176	SH		SOLE		31,266	0	910
Johnson Controls Intl plc	COM	G51502105	373	9,171	SH		SOLE		8,005	0	1,166
Kimberly-Clark Corp.	COM	494368103	2,941	21,378	SH		SOLE		20,903	0	475
Kohl's Corp.	COM	500255104	770	15,116	SH		SOLE		14,791	0	325
Lockheed Martin Corp.	COM	539830109	352	905	SH		SOLE		905	0	0
MGE Energy	COM	55277p104	903	11,450	SH		SOLE		11,300	0	150
MGIC Investment Corp.	COM	552848103	3,815	269,244	SH		SOLE		263,479	0	5,765
McDonald's	COM	580135101	1,254	6,347	SH		SOLE		6,242	0	105
Medtronic plc	COM	g5960l103	2,602	22,939	SH		SOLE		21,959	0	980
Merck & Co. Inc.	COM	58933y105	317	3,483	SH		SOLE		3,243	0	240
Microsoft Corp.	COM	594918104	6,771	42,936	SH		SOLE		41,936	0	1,000
Modine Manufacturing	COM	607828100	490	63,699	SH		SOLE		62,349	0	1,350
NVidia Corp	COM	67066G104	745	3,167	SH		SOLE		3,107	0	60
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
NextEra Energy, Inc.	COM	65339f101	227	936	SH		SOLE		936	0	0
Nordstrom Inc.	COM	655664100	421	10,285	SH		SOLE		10,045	0	240
Novartis AG	COM	66987v109	2,096	22,137	SH		SOLE		21,767	0	370
O-I Glass, Inc.	COM	67098h104	1,682	140,975	SH		SOLE		140,500	0	475
Occidental Petroleum	COM	674599105	261	6,341	SH		SOLE		6,297	0	44
Olin Corp	COM	680665205	748	43,343	SH		SOLE		42,218	0	1,125
Oracle Corp.	COM	68389X105	825	15,576	SH		SOLE		14,886	0	690
Oshkosh Corp	COM	688239201	321	3,390	SH		SOLE		3,390	0	0
PayPal Holdings, Inc.	COM	70450y103	1,525	14,102	SH		SOLE		14,017	0	85
Paychex	COM	704326107	345	4,055	SH		SOLE		4,055	0	0
Pepsico Inc.	COM	713448108	3,390	24,802	SH		SOLE		24,152	0	650
Pfizer Inc.	COM	717081103	1,189	30,343	SH		SOLE		30,193	0	150
Philip Morris International	COM	718172109	247	2,899	SH		SOLE		2,724	0	175
Procter & Gamble Co.	COM	742718109	1,731	13,856	SH		SOLE		13,186	0	670
Prudential Financial, Inc.	COM	744320102	1,031	10,994	SH		SOLE		10,329	0	665
Quad/Graphics, Inc.	COM	747301109	214	45,840	SH		SOLE		44,465	0	1,375
Qualcomm Inc.	COM	747525103	1,323	14,992	SH		SOLE		14,617	0	375
RPM Inc.	COM	749685103	2,193	28,567	SH		SOLE		27,697	0	870
Range Resources	COM	75281a109	621	128,136	SH		SOLE		126,801	0	1,335
Regal-Beloit Corp.	COM	758750103	274	3,204	SH		SOLE		2,604	0	600
Rockwell Automation	COM	773903109	372	1,835	SH		SOLE		1,835	0	0
Schlumberger Ltd.	COM	806857108	1,489	37,030	SH		SOLE		35,405	0	1,625
Stanley Black & Decker, Inc.	COM	854502101	2,179	13,146	SH		SOLE		12,781	0	365
TCF Financial Corporation	COM	872307103	575	12,285	SH		SOLE		11,790	0	495
Target Corp.	COM	87612E106	922	7,190	SH		SOLE		7,120	0	70
The Walt Disney Co.	COM	254687106	705	4,873	SH		SOLE		4,873	0	0
Turquoise Hill Resources Ltd.	COM	900435108	34	46,003	SH		SOLE		46,003	0	0
U.S. Bancorp	COM	902973304	384	6,480	SH		SOLE		6,180	0	300
UnitedHealth Group Inc	COM	91324p102	2,248	7,648	SH		SOLE		7,580	0	68
VF Corp	COM	918204108	1,321	13,254	SH		SOLE		12,289	0	965
VanEck Vectors Oil Services ET	COM	92189f718	274	20,700	SH		SOLE		20,300	0	400
Verizon	COM	92343V104	4,107	66,894	SH		SOLE		65,439	0	1,455
Visa Inc.	COM	92826c839	254	1,350	SH		SOLE		1,190	0	160
WD 40 Company	COM	929236107	347	1,785	SH		SOLE		1,785	0	0
WEC Energy Group, Inc.	COM	92939u106	2,360	25,589	SH		SOLE		24,764	0	825
Wal-Mart Stores Inc.	COM	931142103	616	5,187	SH		SOLE		5,137	0	50
Walgreens Boots Alliance	COM	931427108	1,222	20,734	SH		SOLE		20,109	0	625
Wells Fargo & Co.	COM	949746101	439	8,166	SH		SOLE		7,591	0	575
Western Digital Corporation	COM	958102105	1,523	23,994	SH		SOLE		23,699	0	295
XCel Energy Inc.	COM	98389b100	551	8,672	SH		SOLE		8,672	0	0
YUM! Brands, Inc.	COM	988498101	283	2,809	SH		SOLE		2,629	0	180
Duff & Phelps Select Income Fu	ETF	23325P104	277	21,722	SH		SOLE		20,447	0	1,275
Invesco NASDAQ 100 Index Track	ETF	46090e103	306	1,439	SH		SOLE		1,439	0	0
Madison Covered Call&Equity St	ETF	557437100	137	20,687	SH		SOLE		17,387	0	3,300
MidCap SPDRs	ETF	78467y107	275	732	SH		SOLE		732	0	0
S&P 500/Barra Value (iShares)	ETF	464287408	252	1,935	SH		SOLE		1,865	0	70
S&P Dep Receipts	ETF	78462f103	618	1,921	SH		SOLE		1,711	0	210
SPDR Dow Jones Industrial Aver	ETF	78467x109	429	1,505	SH		SOLE		1,505	0	0
SPDR Portfolio Mid Cap ETF	ETF	78464A847	2,009	55,440	SH		SOLE		54,606	0	834
SPDR S&P 500 Growth ETF	ETF	78464A409	8,067	192,473	SH		SOLE		188,891	0	3,582
SPDR S&P 500 Value ETF	ETF	78464A508	5,186	148,544	SH		SOLE		143,909	0	4,635
Schwab U.S. Large-Cap ETF	ETF	808524201	662	8,620	SH		SOLE		8,620	0	0
Schwab U.S. Large-Cap Growth E	ETF	808524300	710	7,644	SH		SOLE		7,270	0	374
Schwab U.S. Large-Cap Value ET	ETF	808524409	297	4,938	SH		SOLE		4,732	0	206
Vanguard High Dividend Yield I	ETF	921946406	299	3,188	SH		SOLE		3,188	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	686	4,712	SH		SOLE		4,712	0	0
Vanguard Mid Cap ETF	ETF	922908629	255	1,432	SH		SOLE		1,432	0	0
Vanguard Value ETF	ETF	922908744	230	1,916	SH		SOLE		1,916	0	0
iShares Core S&P U.S. Growth E	ETF	464287671	215	3,176	SH		SOLE		3,176	0	0
iShares Russell Growth Midcap	ETF	464287481	218	1,428	SH		SOLE		1,428	0	0
iShares Russell Midcap Value I	ETF	464287473	221	2,334	SH		SOLE		2,314	0	20
S&P 600/Barra Growth Index (iS	SMLC	464287887	1,929	9,980	SH		SOLE		9,659	0	321
S&P 600/Barra Value Index (iSh	SMLC	464287879	2,033	12,646	SH		SOLE		12,323	0	323
SPDR Portfolio Small Cap ETF	SMLC	78468R853	3,215	98,524	SH		SOLE		97,415	0	1,109
Schwab U.S. Small-Cap ETF	SMLC	808524607	840	11,102	SH		SOLE		10,379	0	723
Vanguard Small Cap ETF	SMLC	922908751	459	2,771	SH		SOLE		2,771	0	0
WisdomTree SmallCap Dividend E	SMLC	97717w604	211	7,356	SH		SOLE		7,356	0	0
iShares S&P SmallCap 600 Index	SMLC	464287804	448	5,337	SH		SOLE		5,227	0	110
China-H FTSE/Xinhua 25 Index (	INTL	464287184	245	5,609	SH		SOLE		4,784	0	825
Europe/Australia/Far-East Inde	INTL	464287465	536	7,717	SH		SOLE		7,166	0	551
Invesco Frontier Markets ETF	INTL	46138e776	375	26,235	SH		SOLE		25,235	0	1,000
MSCI Emerging Markets Index (i	INTL	464287234	488	10,881	SH		SOLE		10,426	0	455
MSCI Japan Index (iShares)	INTL	46434g822	265	4,467	SH		SOLE		4,232	0	235
SPDR Portfolio Emerging Market	INTL	78463X509	3,080	81,941	SH		SOLE		81,069	0	872
SPDR S&P World ex-US ETF	INTL	78463X889	2,644	84,326	SH		SOLE		83,926	0	400
Schwab Emerging Markets Equity	INTL	808524706	535	19,557	SH		SOLE		18,648	0	909
Schwab International Equity ET	INTL	808524805	841	25,013	SH		SOLE		23,222	0	1,791
Vanguard Emerging Markets Stoc	INTL	922042858	1,317	29,607	SH		SOLE		29,057	0	550
Vanguard FTSE Developed Market	INTL	921943858	2,194	49,790	SH		SOLE		47,565	0	2,225
Wisdom Tree Japan Hedged Equit	INTL	97717W851	482	8,960	SH		SOLE		8,475	0	485
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	1,241	23,213	SH		SOLE		22,588	0	625
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	697	15,227	SH		SOLE		14,777	0	450
WisdomTree Int'l Hedged Divide	INTL	97717x594	450	12,385	SH		SOLE		11,960	0	425
iShares MSCI All Country Asia	INTL	464288182	604	8,218	SH		SOLE		7,506	0	712
BlackRock Int. Duration Munici	FIXD	09253X102	1,167	81,923	SH		SOLE		78,783	0	3,140
BlackRock MuniAssets Fund	FIXD	09254j102	1,181	77,845	SH		SOLE		75,845	0	2,000
Calamos Convertible & High Inc	FIXD	12811p108	523	45,909	SH		SOLE		41,734	0	4,175
Eaton Vance Limited Duration I	FIXD	27828H105	407	30,696	SH		SOLE		27,646	0	3,050
Invesco CEF Income Composite E	FIXD	46138e404	1,565	67,146	SH		SOLE		59,906	0	7,240
Invesco Ultra Short-Duration E	FIXD	46090a887	313	6,215	SH		SOLE		5,215	0	1,000
Nuveen Dividend Advantage Muni	FIXD	67071l106	175	10,525	SH		SOLE		10,525	0	0
Nuveen Municipal Value Fund In	FIXD	670928100	334	31,200	SH		SOLE		31,200	0	0
PIMCO Corporate Opportunity Fu	FIXD	72201b101	573	30,164	SH		SOLE		28,914	0	1,250
PIMCO Enhanced Short Maturity	FIXD	72201r833	778	7,660	SH		SOLE		7,310	0	350
Putnam Master Intrm Inc Tr	FIXD	746909100	75	15,900	SH		SOLE		15,900	0	0
SPDR DoubleLine Total Return T	FIXD	78467v848	233	4,748	SH		SOLE		4,748	0	0
SPDR Lehman Municipal Bond ETF	FIXD	78468r721	231	4,558	SH		SOLE		4,558	0	0
SPDR Portfolio Aggregate Bond	FIXD	78464a649	3,620	123,226	SH		SOLE		119,118	0	4,108
SPDR Short Term Municipal Bond	FIXD	78468r739	887	18,069	SH		SOLE		18,069	0	0
Schwab US Aggregate Bond ETF	FIXD	808524839	493	9,233	SH		SOLE		8,629	0	604
Templeton Global Income Fund	FIXD	880198106	196	32,050	SH		SOLE		7,900	0	24,150
Vanguard Intermediate-Term Bon	FIXD	921937819	268	3,073	SH		SOLE		818	0	2,255
Vanguard Total Intl Bond Ind E	FIXD	92203j407	1,008	17,809	SH		SOLE		17,604	0	205
WisdomTree Floating Rate Treas	FIXD	97717X628	1,193	47,619	SH		SOLE		46,276	0	1,343
iShares Barclays TIPS Bond Fun	FIXD	464287176	526	4,510	SH		SOLE		3,850	0	660
iShares Core International Agg	FIXD	46435g672	5,858	106,917	SH		SOLE		105,803	0	1,114
iShares iBoxx Invest Grade Cor	FIXD	464287242	990	7,740	SH		SOLE		7,545	0	195
Gold Shares SPDR	CMDT	78463v107	824	5,768	SH		SOLE		5,348	0	420
Sprott Physical Gold and Silve	CMDT	85208r101	203	13,825	SH		SOLE		825	0	13,000
iShares Gold Trust	CMDT	464285105	358	24,719	SH		SOLE		21,619	0	3,100
DJ Wilshire Int'l Real Estate	REAL	78463x863	790	20,356	SH		SOLE		18,326	0	2,030
Invesco MSCI Global Timber ETF	REAL	46138e545	216	7,487	SH		SOLE		6,887	0	600
SPDR Dow Jones Global Real Est	REAL	78463x749	1,203	23,359	SH		SOLE		23,001	0	358
iShares S&P Global Timber & Fo	REAL	464288174	488	7,284	SH		SOLE		6,827	0	457
ALPS Alerian MLP ETF	HEDG	00162q866	258	30,355	SH		SOLE		27,630	0	2,725
ProShares S&P 500 Index Invers	HEDG	74347b425	1,961	81,659	SH		SOLE		81,059	0	600