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
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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	226	1,411	SH		SOLE		1,411	0	0
AT&T Inc	COM	00206r102	1,046	36,673	SH		SOLE		36,508	0	165
AbbVie Inc.	COM	00287y109	3,426	39,115	SH		SOLE		38,035	0	1,080
Abbott Labs	COM	002824100	1,301	11,957	SH		SOLE		11,522	0	435
Accenture	COM	g1151c101	1,032	4,566	SH		SOLE		4,211	0	355
Air Products and Chemicals Inc	COM	009158106	253	850	SH		SOLE		650	0	200
Allegheny Technologies	COM	01741r102	637	73,015	SH		SOLE		71,465	0	1,550
Alliant Energy	COM	018802108	1,668	32,302	SH		SOLE		31,635	0	667
Alphabet Inc. Class A	COM	02079k305	1,463	998	SH		SOLE		629	0	369
Alphabet Inc. Class C	COM	02079k107	6,638	4,517	SH		SOLE		3,070	0	1,447
Altria Group	COM	02209s103	284	7,341	SH		SOLE		7,341	0	0
Amazon.com	COM	023135106	3,908	1,241	SH		SOLE		1,202	0	39
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	1,586	6,242	SH		SOLE		5,970	0	272
Apache Corporation	COM	037411105	158	16,726	SH		SOLE		16,626	0	100
Apple Inc.	COM	037833100	8,559	73,908	SH		SOLE		72,268	0	1,640
Arrow Electronics	COM	042735100	403	5,125	SH		SOLE		5,125	0	0
BP p.l.c.	COM	055622104	186	10,665	SH		SOLE		10,515	0	150
Bank of America	COM	060505104	1,162	48,232	SH		SOLE		47,862	0	370
Berkshire Hathaway cl. A (1/10	COM	084990175	640	200	SH		SOLE		200	0	0
Berkshire Hathaway cl. B	COM	084670702	2,759	12,958	SH		SOLE		12,701	0	257
Bristol-Myers Squibb	COM	110122108	2,303	38,195	SH		SOLE		37,160	0	1,035
CVS Caremark Corp	COM	126650100	3,207	54,910	SH		SOLE		53,240	0	1,670
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Carnival Corporation	COM	143658300	503	33,160	SH		SOLE		32,635	0	525
Caterpillar Inc.	COM	149123101	2,360	15,822	SH		SOLE		15,647	0	175
Chevron Corp.	COM	166764100	1,601	22,241	SH		SOLE		21,691	0	550
China Jo-Jo Drugstores, Inc.	COM	16949a206	18	19,000	SH		SOLE		19,000	0	0
Cisco Systems Inc.	COM	17275R102	1,627	41,311	SH		SOLE		40,521	0	790
Citigroup Inc.	COM	172967424	957	22,190	SH		SOLE		21,490	0	700
Coca-Cola Co.	COM	191216100	282	5,706	SH		SOLE		5,226	0	480
Colgate-Palmolive Co.	COM	194162103	582	7,550	SH		SOLE		7,150	0	400
Deere & Co	COM	244199105	511	2,304	SH		SOLE		2,304	0	0
Diebold, Incorporated	COM	253651103	154	20,150	SH		SOLE		20,150	0	0
Dominion Resources Inc.	COM	25746U109	287	3,637	SH		SOLE		3,367	0	270
Duke Energy	COM	26441C204	228	2,570	SH		SOLE		2,570	0	0
Facebook Inc.	COM	30303m102	627	2,395	SH		SOLE		1,895	0	500
Fastenal Co.	COM	311900104	434	9,626	SH		SOLE		9,026	0	600
FedEx Corp.	COM	31428X106	617	2,453	SH		SOLE		2,438	0	15
Fidelity National Info Service	COM	31620m106	333	2,261	SH		SOLE		2,261	0	0
Fiserv Inc.	COM	337738108	4,482	43,498	SH		SOLE		42,683	0	815
General Dynamics	COM	369550108	453	3,274	SH		SOLE		3,214	0	60
General Electric Co.	COM	369604103	719	115,473	SH		SOLE		115,243	0	230
Genuine Parts	COM	372460105	473	4,965	SH		SOLE		4,765	0	200
Gilead Sciences	COM	375558103	240	3,795	SH		SOLE		3,795	0	0
Goldman Sachs	COM	38141G104	944	4,698	SH		SOLE		4,678	0	20
Helen of Troy, Ltd	COM	g4388n106	1,643	8,490	SH		SOLE		8,095	0	395
Hershey Foods Corp	COM	427866108	287	2,000	SH		SOLE		2,000	0	0
Home Depot Inc.	COM	437076102	383	1,380	SH		SOLE		1,380	0	0
Illumina, Inc	COM	452327109	1,000	3,237	SH		SOLE		3,193	0	44
Ingersoll Rand Inc.	COM	45687v106	305	8,572	SH		SOLE		8,572	0	0
Intel Corp.	COM	458140100	2,291	44,246	SH		SOLE		43,321	0	925
Intl Business Mach. Corp.	COM	459200101	215	1,763	SH		SOLE		1,633	0	130
J.P. Morgan Chase	COM	46625H100	2,716	28,213	SH		SOLE		27,712	0	501
Johnson & Johnson	COM	478160104	4,695	31,533	SH		SOLE		30,643	0	890
Kimberly-Clark Corp.	COM	494368103	3,632	24,594	SH		SOLE		24,084	0	510
Lilly Eli & Co.	COM	532457108	209	1,410	SH		SOLE		1,210	0	200
Lockheed Martin Corp.	COM	539830109	358	935	SH		SOLE		935	0	0
MGE Energy	COM	55277p104	667	10,651	SH		SOLE		10,501	0	150
MGIC Investment Corp.	COM	552848103	2,867	323,589	SH		SOLE		317,444	0	6,145
McDonald's	COM	580135101	1,322	6,022	SH		SOLE		5,917	0	105
Medtronic plc	COM	g5960l103	1,724	16,590	SH		SOLE		15,705	0	885
Merck & Co. Inc.	COM	58933y105	272	3,277	SH		SOLE		3,037	0	240
Microsoft Corp.	COM	594918104	8,567	40,729	SH		SOLE		39,854	0	875
Modine Manufacturing	COM	607828100	630	100,774	SH		SOLE		98,824	0	1,950
NVidia Corp	COM	67066G104	2,097	3,875	SH		SOLE		3,830	0	45
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
Newmont Mining Corp	COM	651639106	667	10,510	SH		SOLE		10,415	0	95
NextEra Energy, Inc.	COM	65339f101	229	826	SH		SOLE		826	0	0
Novartis AG	COM	66987v109	2,116	24,334	SH		SOLE		23,899	0	435
O-I Glass, Inc.	COM	67098h104	1,313	124,025	SH		SOLE		124,025	0	0
Olin Corp	COM	680665205	978	79,030	SH		SOLE		77,630	0	1,400
Oracle Corp.	COM	68389X105	819	13,715	SH		SOLE		13,065	0	650
Oshkosh Corp	COM	688239201	282	3,840	SH		SOLE		3,840	0	0
PayPal Holdings, Inc.	COM	70450y103	2,105	10,682	SH		SOLE		10,527	0	155
Paychex	COM	704326107	272	3,405	SH		SOLE		3,405	0	0
Pepsico Inc.	COM	713448108	2,844	20,523	SH		SOLE		19,953	0	570
Pfizer Inc.	COM	717081103	1,087	29,617	SH		SOLE		29,467	0	150
Philip Morris International	COM	718172109	217	2,896	SH		SOLE		2,721	0	175
Procter & Gamble Co.	COM	742718109	1,731	12,456	SH		SOLE		11,856	0	600
Prudential Financial, Inc.	COM	744320102	267	4,197	SH		SOLE		3,937	0	260
Quad/Graphics, Inc.	COM	747301109	102	33,600	SH		SOLE		33,600	0	0
Qualcomm Inc.	COM	747525103	2,040	17,334	SH		SOLE		16,974	0	360
RPM Inc.	COM	749685103	3,274	39,518	SH		SOLE		38,658	0	860
Range Resources	COM	75281a109	182	27,485	SH		SOLE		27,185	0	300
Rockwell Automation	COM	773903109	358	1,620	SH		SOLE		1,620	0	0
Schlumberger Ltd.	COM	806857108	192	12,360	SH		SOLE		10,870	0	1,490
Square, Inc.	COM	852234103	424	2,606	SH		SOLE		2,606	0	0
Stanley Black & Decker, Inc.	COM	854502101	395	2,435	SH		SOLE		2,310	0	125
TCF Financial Corporation	COM	872307103	1,247	53,372	SH		SOLE		52,402	0	970
Target Corp.	COM	87612E106	1,768	11,234	SH		SOLE		10,992	0	242
Tesla Motors, Inc.	COM	88160R101	491	1,145	SH		SOLE		1,145	0	0
The Interpublic Group of Compa	COM	460690100	187	11,200	SH		SOLE		11,200	0	0
The Walt Disney Co.	COM	254687106	605	4,874	SH		SOLE		4,874	0	0
Union Pacific Corp.	COM	907818108	217	1,100	SH		SOLE		1,100	0	0
UnitedHealth Group Inc	COM	91324p102	2,275	7,298	SH		SOLE		7,145	0	153
VF Corp	COM	918204108	758	10,789	SH		SOLE		9,984	0	805
Verizon	COM	92343V104	3,578	60,146	SH		SOLE		58,921	0	1,225
Visa Inc.	COM	92826c839	1,210	6,051	SH		SOLE		5,748	0	303
WD 40 Company	COM	929236107	338	1,785	SH		SOLE		1,785	0	0
WEC Energy Group, Inc.	COM	92939u106	2,100	21,670	SH		SOLE		20,845	0	825
Wal-Mart Stores Inc.	COM	931142103	1,263	9,026	SH		SOLE		8,846	0	180
Walgreens Boots Alliance	COM	931427108	687	19,119	SH		SOLE		18,564	0	555
XCel Energy Inc.	COM	98389b100	598	8,672	SH		SOLE		8,672	0	0
XPO Logistics, Inc.	COM	983793100	963	11,379	SH		SOLE		11,219	0	160
Duff & Phelps Select Income Fu	ETF	23325P104	192	19,147	SH		SOLE		17,872	0	1,275
Madison Covered Call&Equity St	ETF	557437100	136	22,695	SH		SOLE		20,395	0	2,300
S&P 500/Barra Growth (iShares)	ETF	464287309	211	911	SH		SOLE		890	0	21
S&P 500/Barra Value (iShares)	ETF	464287408	222	1,970	SH		SOLE		1,900	0	70
S&P Dep Receipts	ETF	78462f103	454	1,357	SH		SOLE		1,147	0	210
SPDR Portfolio Mid Cap ETF	ETF	78464A847	1,999	61,269	SH		SOLE		60,564	0	705
SPDR Portfolio S&P 500 High Di	ETF	78468r788	359	13,086	SH		SOLE		12,196	0	890
SPDR S&P 500 Growth ETF	ETF	78464A409	10,965	218,814	SH		SOLE		215,132	0	3,682
SPDR S&P 500 Value ETF	ETF	78464A508	6,279	207,927	SH		SOLE		202,520	0	5,407
Schwab U.S. Large-Cap ETF	ETF	808524201	660	8,185	SH		SOLE		8,185	0	0
Schwab U.S. Large-Cap Growth E	ETF	808524300	848	7,363	SH		SOLE		6,989	0	374
Schwab U.S. Large-Cap Value ET	ETF	808524409	273	5,225	SH		SOLE		4,689	0	536
Schwab US Dividend Equity ETF	ETF	808524797	602	10,882	SH		SOLE		10,232	0	650
Vanguard High Dividend Yield I	ETF	921946406	232	2,867	SH		SOLE		2,867	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	723	3,899	SH		SOLE		3,899	0	0
Vanguard Mid Cap ETF	ETF	922908629	239	1,355	SH		SOLE		1,355	0	0
iShares Core S&P U.S. Growth E	ETF	464287671	254	3,176	SH		SOLE		3,176	0	0
iShares Russell Growth Midcap	ETF	464287481	249	1,442	SH		SOLE		1,442	0	0
S&P 600/Barra Growth Index (iS	SMLC	464287887	1,970	11,165	SH		SOLE		10,672	0	493
S&P 600/Barra Value Index (iSh	SMLC	464287879	2,319	18,947	SH		SOLE		18,415	0	532
SPDR Portfolio Small Cap ETF	SMLC	78468R853	5,461	199,453	SH		SOLE		197,971	0	1,482
Schwab U.S. Small-Cap ETF	SMLC	808524607	981	14,354	SH		SOLE		13,086	0	1,268
Vanguard Small Cap ETF	SMLC	922908751	205	1,332	SH		SOLE		1,332	0	0
iShares S&P SmallCap 600 Index	SMLC	464287804	435	6,200	SH		SOLE		5,825	0	375
China-H FTSE/Xinhua 25 Index (	INTL	464287184	218	5,189	SH		SOLE		4,364	0	825
Europe/Australia/Far-East Inde	INTL	464287465	443	6,957	SH		SOLE		6,768	0	189
MSCI Emerging Markets Index (i	INTL	464287234	444	10,069	SH		SOLE		9,614	0	455
MSCI Japan Index (iShares)	INTL	46434g822	250	4,227	SH		SOLE		3,992	0	235
SPDR Portfolio Emerging Market	INTL	78463X509	2,543	69,570	SH		SOLE		68,952	0	618
SPDR S&P Developed World ex-US	INTL	78463X889	3,312	113,185	SH		SOLE		112,785	0	400
Schwab Emerging Markets Equity	INTL	808524706	234	8,747	SH		SOLE		8,747	0	0
Schwab International Equity ET	INTL	808524805	772	24,587	SH		SOLE		22,546	0	2,041
Vanguard Emerging Markets Stoc	INTL	922042858	478	11,044	SH		SOLE		10,844	0	200
Vanguard FTSE All-World ex-US	INTL	922042775	316	6,267	SH		SOLE		6,267	0	0
Vanguard FTSE Developed Market	INTL	921943858	1,960	47,915	SH		SOLE		45,940	0	1,975
Wisdom Tree Japan Hedged Equit	INTL	97717W851	384	7,840	SH		SOLE		7,355	0	485
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	1,059	23,283	SH		SOLE		22,708	0	575
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	321	9,097	SH		SOLE		8,962	0	135
WisdomTree Int'l Hedged Divide	INTL	97717x594	206	5,625	SH		SOLE		5,425	0	200
iShares MSCI All Country Asia	INTL	464288182	618	8,011	SH		SOLE		7,126	0	885
BlackRock Int. Duration Munici	FIXD	09253X102	1,160	82,673	SH		SOLE		79,533	0	3,140
BlackRock MuniAssets Fund	FIXD	09254j102	1,090	79,235	SH		SOLE		77,235	0	2,000
Calamos Convertible & High Inc	FIXD	12811p108	548	46,909	SH		SOLE		43,234	0	3,675
Eaton Vance Limited Duration I	FIXD	27828h105	381	33,712	SH		SOLE		30,412	0	3,300
Invesco CEF Income Composite E	FIXD	46138e404	1,684	83,192	SH		SOLE		77,552	0	5,640
Invesco Ultra Short-Duration E	FIXD	46090a887	275	5,435	SH		SOLE		4,435	0	1,000
Nuveen Dividend Advantage Muni	FIXD	67071l106	165	10,525	SH		SOLE		10,525	0	0
Nuveen Municipal Value Fund In	FIXD	670928100	333	31,200	SH		SOLE		31,200	0	0
PIMCO Corporate Opportunity Fu	FIXD	72201b101	529	32,812	SH		SOLE		31,812	0	1,000
PIMCO Enhanced Short Maturity	FIXD	72201r833	710	6,965	SH		SOLE		6,865	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	234	4,748	SH		SOLE		4,448	0	300
SPDR Lehman Municipal Bond ETF	FIXD	78468r721	237	4,573	SH		SOLE		4,573	0	0
SPDR Portfolio Aggregate Bond	FIXD	78464a649	4,155	134,850	SH		SOLE		130,830	0	4,020
SPDR Short Term Municipal Bond	FIXD	78468r739	803	16,099	SH		SOLE		16,099	0	0
Schwab US Aggregate Bond ETF	FIXD	808524839	436	7,781	SH		SOLE		7,376	0	405
Templeton Global Income Fund	FIXD	880198106	107	20,000	SH		SOLE		5,100	0	14,900
Vanguard Total Intl Bond Ind E	FIXD	92203j407	315	5,413	SH		SOLE		5,413	0	0
WisdomTree Floating Rate Treas	FIXD	97717X628	1,275	50,793	SH		SOLE		49,254	0	1,539
iShares Barclays TIPS Bond Fun	FIXD	464287176	403	3,183	SH		SOLE		2,783	0	400
iShares Core International Agg	FIXD	46435g672	2,080	37,368	SH		SOLE		36,799	0	569
iShares Short-Term Corporate B	FIXD	464288646	1,403	25,550	SH		SOLE		25,390	0	160
iShares iBoxx Invest Grade Cor	FIXD	464287242	882	6,546	SH		SOLE		6,496	0	50
Gold Shares SPDR	CMDT	78463v107	9,027	50,965	SH		SOLE		49,803	0	1,162
Sprott Physical Gold and Silve	CMDT	85208r101	244	13,325	SH		SOLE		825	0	12,500
iShares Gold Trust	CMDT	464285105	540	30,024	SH		SOLE		26,724	0	3,300
DJ Wilshire Int'l Real Estate	REAL	78463x863	691	23,257	SH		SOLE		20,987	0	2,270
Invesco MSCI Global Timber ETF	REAL	46138e545	229	8,137	SH		SOLE		7,487	0	650
SPDR Dow Jones Global Real Est	REAL	78463x749	1,039	26,301	SH		SOLE		25,936	0	365
iShares S&P Global Timber & Fo	REAL	464288174	462	7,147	SH		SOLE		6,715	0	432
ProShares S&P 500 Index Invers	HEDG	74347b425	3,271	160,969	SH		SOLE		157,987	0	2,982