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	220	1,410	SH		SOLE		1,410	0	0
AT&T Inc	COM	00206r102	1,159	38,341	SH		SOLE		38,176	0	165
AbbVie Inc.	COM	00287y109	3,940	40,131	SH		SOLE		39,051	0	1,080
Abbott Labs	COM	002824100	1,103	12,061	SH		SOLE		11,626	0	435
Accenture	COM	g1151c101	1,021	4,756	SH		SOLE		4,376	0	380
Air Products and Chemicals Inc	COM	009158106	205	850	SH		SOLE		650	0	200
Allegheny Technologies	COM	01741r102	774	75,940	SH		SOLE		74,390	0	1,550
Alliant Energy	COM	018802108	1,695	35,422	SH		SOLE		34,755	0	667
Alphabet Inc. Class A	COM	02079k305	1,505	1,061	SH		SOLE		692	0	369
Alphabet Inc. Class C	COM	02079k107	6,473	4,579	SH		SOLE		3,132	0	1,447
Altria Group	COM	02209s103	296	7,537	SH		SOLE		7,537	0	0
Amazon.com	COM	023135106	3,250	1,178	SH		SOLE		1,139	0	39
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	1,525	6,465	SH		SOLE		6,190	0	275
Apache Corporation	COM	037411105	239	17,691	SH		SOLE		17,566	0	125
Apple Inc.	COM	037833100	7,140	19,572	SH		SOLE		19,137	0	435
Arrow Electronics	COM	042735100	404	5,875	SH		SOLE		5,875	0	0
BP p.l.c.	COM	055622104	251	10,765	SH		SOLE		10,615	0	150
Bank of America	COM	060505104	1,481	62,347	SH		SOLE		61,847	0	500
Berkshire Hathaway cl. A (1/10	COM	084990175	535	200	SH		SOLE		200	0	0
Berkshire Hathaway cl. B	COM	084670702	2,357	13,202	SH		SOLE		12,945	0	257
Bristol-Myers Squibb	COM	110122108	2,137	36,340	SH		SOLE		35,305	0	1,035
CVS Caremark Corp	COM	126650100	3,641	56,038	SH		SOLE		54,368	0	1,670
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Carnival Corporation	COM	143658300	329	20,025	SH		SOLE		19,525	0	500
Caterpillar Inc.	COM	149123101	1,148	9,071	SH		SOLE		8,967	0	104
Chevron Corp.	COM	166764100	1,208	13,543	SH		SOLE		13,013	0	530
Cisco Systems Inc.	COM	17275R102	2,075	44,495	SH		SOLE		43,705	0	790
Citigroup Inc.	COM	172967424	1,091	21,350	SH		SOLE		20,650	0	700
Coca-Cola Co.	COM	191216100	258	5,776	SH		SOLE		5,296	0	480
Colgate-Palmolive Co.	COM	194162103	590	8,050	SH		SOLE		7,650	0	400
Deere & Co	COM	244199105	382	2,429	SH		SOLE		2,429	0	0
Diebold, Incorporated	COM	253651103	154	25,375	SH		SOLE		25,375	0	0
Dominion Resources Inc.	COM	25746U109	295	3,637	SH		SOLE		3,367	0	270
Duke Energy	COM	26441C204	205	2,570	SH		SOLE		2,570	0	0
Exxon-Mobil	COM	30231G102	400	8,949	SH		SOLE		8,724	0	225
Facebook Inc.	COM	30303m102	578	2,546	SH		SOLE		2,046	0	500
Fastenal Co.	COM	311900104	434	10,126	SH		SOLE		9,526	0	600
Fidelity National Info Service	COM	31620m106	303	2,261	SH		SOLE		2,261	0	0
Fiserv Inc.	COM	337738108	4,067	41,659	SH		SOLE		40,874	0	785
General Dynamics	COM	369550108	465	3,110	SH		SOLE		3,085	0	25
General Electric Co.	COM	369604103	972	142,242	SH		SOLE		140,182	0	2,060
Genuine Parts	COM	372460105	436	5,016	SH		SOLE		4,816	0	200
Gilead Sciences	COM	375558103	302	3,920	SH		SOLE		3,920	0	0
Helen of Troy, Ltd	COM	g4388n106	1,586	8,409	SH		SOLE		8,014	0	395
Hershey Foods Corp	COM	427866108	259	2,000	SH		SOLE		2,000	0	0
Home Depot Inc.	COM	437076102	365	1,457	SH		SOLE		1,457	0	0
Illumina, Inc	COM	452327109	1,474	3,980	SH		SOLE		3,934	0	46
Ingersoll Rand Inc.	COM	45687v106	241	8,572	SH		SOLE		8,572	0	0
Intel Corp.	COM	458140100	3,314	55,398	SH		SOLE		54,418	0	980
Intl Business Mach. Corp.	COM	459200101	230	1,906	SH		SOLE		1,776	0	130
J.P. Morgan Chase	COM	46625H100	2,669	28,372	SH		SOLE		27,871	0	501
Johnson & Johnson	COM	478160104	4,402	31,301	SH		SOLE		30,406	0	895
Kimberly-Clark Corp.	COM	494368103	3,337	23,609	SH		SOLE		23,099	0	510
Lilly Eli & Co.	COM	532457108	231	1,410	SH		SOLE		1,210	0	200
Lockheed Martin Corp.	COM	539830109	341	935	SH		SOLE		935	0	0
MGE Energy	COM	55277p104	691	10,713	SH		SOLE		10,563	0	150
MGIC Investment Corp.	COM	552848103	2,661	324,884	SH		SOLE		318,739	0	6,145
McDonald's	COM	580135101	1,139	6,172	SH		SOLE		6,067	0	105
Medtronic plc	COM	g5960l103	1,566	17,075	SH		SOLE		16,180	0	895
Merck & Co. Inc.	COM	58933y105	254	3,282	SH		SOLE		3,042	0	240
Microsoft Corp.	COM	594918104	8,605	42,285	SH		SOLE		41,315	0	970
Modine Manufacturing	COM	607828100	603	109,224	SH		SOLE		107,274	0	1,950
NVidia Corp	COM	67066G104	1,834	4,827	SH		SOLE		4,782	0	45
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
Nordstrom Inc.	COM	655664100	159	10,295	SH		SOLE		10,055	0	240
Novartis AG	COM	66987v109	2,336	26,749	SH		SOLE		26,299	0	450
O-I Glass, Inc.	COM	67098h104	1,241	138,175	SH		SOLE		137,800	0	375
Olin Corp	COM	680665205	703	61,180	SH		SOLE		60,080	0	1,100
Oracle Corp.	COM	68389X105	808	14,621	SH		SOLE		13,971	0	650
Oshkosh Corp	COM	688239201	279	3,890	SH		SOLE		3,890	0	0
PayPal Holdings, Inc.	COM	70450y103	1,963	11,267	SH		SOLE		11,112	0	155
Paychex	COM	704326107	281	3,705	SH		SOLE		3,705	0	0
Pepsico Inc.	COM	713448108	3,212	24,287	SH		SOLE		23,647	0	640
Pfizer Inc.	COM	717081103	976	29,834	SH		SOLE		29,684	0	150
Philip Morris International	COM	718172109	203	2,899	SH		SOLE		2,724	0	175
Procter & Gamble Co.	COM	742718109	1,589	13,291	SH		SOLE		12,641	0	650
Prudential Financial, Inc.	COM	744320102	283	4,653	SH		SOLE		4,393	0	260
Quad/Graphics, Inc.	COM	747301109	145	44,550	SH		SOLE		43,575	0	975
Qualcomm Inc.	COM	747525103	1,501	16,454	SH		SOLE		16,094	0	360
RPM Inc.	COM	749685103	2,258	30,080	SH		SOLE		29,225	0	855
Range Resources	COM	75281a109	149	26,510	SH		SOLE		25,960	0	550
Rockwell Automation	COM	773903109	391	1,835	SH		SOLE		1,835	0	0
Schlumberger Ltd.	COM	806857108	258	14,055	SH		SOLE		12,565	0	1,490
Square, Inc.	COM	852234103	298	2,836	SH		SOLE		2,836	0	0
Stanley Black & Decker, Inc.	COM	854502101	339	2,435	SH		SOLE		2,310	0	125
TCF Financial Corporation	COM	872307103	1,404	47,715	SH		SOLE		46,595	0	1,120
Target Corp.	COM	87612E106	1,278	10,659	SH		SOLE		10,417	0	242
Tautachrome, Inc.	COM	000138906	0	33,000	SH		SOLE		33,000	0	0
Tesla Motors, Inc.	COM	88160R101	319	295	SH		SOLE		295	0	0
The Interpublic Group of Compa	COM	460690100	222	12,950	SH		SOLE		12,950	0	0
The Walt Disney Co.	COM	254687106	544	4,874	SH		SOLE		4,874	0	0
United Parcel Service	COM	911312106	325	2,926	SH		SOLE		2,926	0	0
UnitedHealth Group Inc	COM	91324p102	2,277	7,719	SH		SOLE		7,586	0	133
VF Corp	COM	918204108	696	11,419	SH		SOLE		10,614	0	805
Verizon	COM	92343V104	3,513	63,731	SH		SOLE		62,406	0	1,325
Visa Inc.	COM	92826c839	837	4,333	SH		SOLE		4,170	0	163
WD 40 Company	COM	929236107	354	1,785	SH		SOLE		1,785	0	0
WEC Energy Group, Inc.	COM	92939u106	2,066	23,566	SH		SOLE		22,741	0	825
Wal-Mart Stores Inc.	COM	931142103	630	5,257	SH		SOLE		5,207	0	50
Walgreens Boots Alliance	COM	931427108	800	18,869	SH		SOLE		18,314	0	555
Wells Fargo & Co.	COM	949746101	209	8,178	SH		SOLE		7,603	0	575
XCel Energy Inc.	COM	98389b100	542	8,672	SH		SOLE		8,672	0	0
XPO Logistics, Inc.	COM	983793100	470	6,082	SH		SOLE		5,947	0	135
Duff & Phelps Select Income Fu	ETF	23325P104	222	20,436	SH		SOLE		19,161	0	1,275
Madison Covered Call&Equity St	ETF	557437100	141	25,015	SH		SOLE		21,715	0	3,300
MidCap SPDRs	ETF	78467y107	223	687	SH		SOLE		687	0	0
S&P 500/Barra Growth (iShares)	ETF	464287309	205	988	SH		SOLE		967	0	21
S&P 500/Barra Value (iShares)	ETF	464287408	219	2,025	SH		SOLE		1,955	0	70
S&P Dep Receipts	ETF	78462f103	583	1,890	SH		SOLE		1,680	0	210
SPDR Portfolio Mid Cap ETF	ETF	78464A847	1,876	60,039	SH		SOLE		59,465	0	574
SPDR S&P 500 Growth ETF	ETF	78464A409	9,556	212,729	SH		SOLE		209,494	0	3,235
SPDR S&P 500 Value ETF	ETF	78464A508	5,637	194,523	SH		SOLE		189,454	0	5,069
Schwab U.S. Large-Cap ETF	ETF	808524201	639	8,620	SH		SOLE		8,620	0	0
Schwab U.S. Large-Cap Growth E	ETF	808524300	788	7,765	SH		SOLE		7,391	0	374
Schwab U.S. Large-Cap Value ET	ETF	808524409	272	5,429	SH		SOLE		5,223	0	206
Schwab US Dividend Equity ETF	ETF	808524797	432	8,346	SH		SOLE		7,696	0	650
Vanguard High Dividend Yield I	ETF	921946406	247	3,136	SH		SOLE		3,136	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	682	4,168	SH		SOLE		4,168	0	0
Vanguard Mid Cap ETF	ETF	922908629	232	1,413	SH		SOLE		1,413	0	0
iShares Core S&P U.S. Growth E	ETF	464287671	228	3,176	SH		SOLE		3,176	0	0
iShares Russell Growth Midcap	ETF	464287481	226	1,428	SH		SOLE		1,428	0	0
S&P 600/Barra Growth Index (iS	SMLC	464287887	1,788	10,532	SH		SOLE		10,064	0	468
S&P 600/Barra Value Index (iSh	SMLC	464287879	2,282	18,960	SH		SOLE		18,428	0	532
SPDR Portfolio Small Cap ETF	SMLC	78468R853	3,311	124,606	SH		SOLE		123,349	0	1,257
Schwab U.S. Small-Cap ETF	SMLC	808524607	878	13,435	SH		SOLE		12,167	0	1,268
Vanguard Small Cap ETF	SMLC	922908751	211	1,445	SH		SOLE		1,445	0	0
iShares S&P SmallCap 600 Index	SMLC	464287804	369	5,410	SH		SOLE		5,210	0	200
China-H FTSE/Xinhua 25 Index (	INTL	464287184	214	5,389	SH		SOLE		4,564	0	825
Europe/Australia/Far-East Inde	INTL	464287465	430	7,059	SH		SOLE		6,870	0	189
MSCI Emerging Markets Index (i	INTL	464287234	417	10,416	SH		SOLE		9,961	0	455
MSCI Japan Index (iShares)	INTL	46434g822	235	4,270	SH		SOLE		4,035	0	235
SPDR Portfolio Emerging Market	INTL	78463X509	1,169	34,924	SH		SOLE		34,505	0	419
SPDR S&P Developed World ex-US	INTL	78463X889	2,624	95,015	SH		SOLE		94,615	0	400
Schwab Emerging Markets Equity	INTL	808524706	217	8,931	SH		SOLE		8,931	0	0
Schwab International Equity ET	INTL	808524805	654	21,978	SH		SOLE		20,087	0	1,891
Vanguard Emerging Markets Stoc	INTL	922042858	442	11,168	SH		SOLE		10,968	0	200
Vanguard FTSE All-World ex-US	INTL	922042775	226	4,738	SH		SOLE		4,738	0	0
Vanguard FTSE Developed Market	INTL	921943858	1,860	47,941	SH		SOLE		45,966	0	1,975
Wisdom Tree Japan Hedged Equit	INTL	97717W851	378	8,040	SH		SOLE		7,555	0	485
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	1,003	22,656	SH		SOLE		22,081	0	575
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	324	8,962	SH		SOLE		8,827	0	135
iShares MSCI All Country Asia	INTL	464288182	571	8,261	SH		SOLE		7,376	0	885
BlackRock Int. Duration Munici	FIXD	09253X102	1,141	82,673	SH		SOLE		79,533	0	3,140
BlackRock MuniAssets Fund	FIXD	09254j102	1,076	77,545	SH		SOLE		75,545	0	2,000
Calamos Convertible & High Inc	FIXD	12811p108	517	45,634	SH		SOLE		41,959	0	3,675
Eaton Vance Limited Duration I	FIXD	27828h105	367	32,537	SH		SOLE		29,237	0	3,300
Invesco CEF Income Composite E	FIXD	46138e404	1,598	80,484	SH		SOLE		74,544	0	5,940
Invesco Ultra Short-Duration E	FIXD	46090a887	294	5,835	SH		SOLE		4,835	0	1,000
Nuveen Dividend Advantage Muni	FIXD	67071l106	161	10,525	SH		SOLE		10,525	0	0
Nuveen Municipal Value Fund In	FIXD	670928100	318	31,200	SH		SOLE		31,200	0	0
PIMCO Corporate Opportunity Fu	FIXD	72201b101	516	33,262	SH		SOLE		32,162	0	1,100
PIMCO Enhanced Short Maturity	FIXD	72201r833	726	7,135	SH		SOLE		7,035	0	100
Putnam Master Intrm Inc Tr	FIXD	746909100	65	15,900	SH		SOLE		15,900	0	0
SPDR DoubleLine Total Return T	FIXD	78467v848	274	5,531	SH		SOLE		5,231	0	300
SPDR Lehman Municipal Bond ETF	FIXD	78468r721	236	4,573	SH		SOLE		4,573	0	0
SPDR Portfolio Aggregate Bond	FIXD	78464a649	3,834	124,247	SH		SOLE		120,719	0	3,528
SPDR Short Term Municipal Bond	FIXD	78468r739	750	15,034	SH		SOLE		15,034	0	0
Schwab US Aggregate Bond ETF	FIXD	808524839	491	8,726	SH		SOLE		8,321	0	405
Templeton Global Income Fund	FIXD	880198106	152	28,300	SH		SOLE		7,400	0	20,900
Vanguard Intermediate-Term Bon	FIXD	921937819	229	2,453	SH		SOLE		518	0	1,935
Vanguard Total Intl Bond Ind E	FIXD	92203j407	299	5,179	SH		SOLE		5,179	0	0
WisdomTree Floating Rate Treas	FIXD	97717X628	1,260	50,179	SH		SOLE		49,020	0	1,159
iShares Barclays TIPS Bond Fun	FIXD	464287176	501	4,073	SH		SOLE		3,463	0	610
iShares Core International Agg	FIXD	46435g672	1,542	27,693	SH		SOLE		27,214	0	479
iShares Short-Term Corporate B	FIXD	464288646	955	17,461	SH		SOLE		17,301	0	160
iShares iBoxx Invest Grade Cor	FIXD	464287242	908	6,751	SH		SOLE		6,566	0	185
Gold Shares SPDR	CMDT	78463v107	7,122	42,551	SH		SOLE		41,491	0	1,060
Sprott Physical Gold and Silve	CMDT	85208r101	225	13,325	SH		SOLE		825	0	12,500
iShares Gold Trust	CMDT	464285105	496	29,219	SH		SOLE		25,919	0	3,300
DJ Wilshire Int'l Real Estate	REAL	78463x863	610	21,152	SH		SOLE		19,082	0	2,070
SPDR Dow Jones Global Real Est	REAL	78463x749	973	24,942	SH		SOLE		24,517	0	425
iShares S&P Global Timber & Fo	REAL	464288174	395	7,117	SH		SOLE		6,685	0	432
ProShares S&P 500 Index Invers	HEDG	74347b425	3,620	161,909	SH		SOLE		158,917	0	2,992