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
3M Company	COM	88579Y101	213	1,432	SH		SOLE		1,432	0	0
AT&T Inc	COM	00206r102	1,810	76,609	SH		SOLE		76,375	0	234
AbbVie Inc.	COM	00287y109	4,357	26,875	SH		SOLE		25,900	0	975
Abbott Labs	COM	002824100	1,040	8,787	SH		SOLE		8,462	0	325
Accenture	COM	g1151c101	1,070	3,173	SH		SOLE		2,873	0	300
Allegheny Technologies	COM	01741r102	1,108	41,300	SH		SOLE		40,450	0	850
Alliant Energy	COM	018802108	1,122	17,965	SH		SOLE		17,598	0	367
Alphabet Inc. Class A	COM	02079k305	2,461	885	SH		SOLE		519	0	366
Alphabet Inc. Class C	COM	02079k107	11,677	4,181	SH		SOLE		2,747	0	1,434
Altria Group	COM	02209s103	312	5,970	SH		SOLE		5,970	0	0
Amazon.com	COM	023135106	2,654	814	SH		SOLE		785	0	29
Amgen	COM	031162100	1,088	4,498	SH		SOLE		4,236	0	262
Apache Corporation	COM	03743q108	746	18,055	SH		SOLE		18,055	0	0
Apple Inc.	COM	037833100	9,190	52,632	SH		SOLE		51,387	0	1,245
AstraZeneca plc. ADS	COM	046353108	1,179	17,770	SH		SOLE		17,490	0	280
BP p.l.c.	COM	055622104	213	7,255	SH		SOLE		7,255	0	0
Bank of America	COM	060505104	1,899	46,080	SH		SOLE		44,985	0	1,095
Bank of Montreal	COM	063671101	285	2,413	SH		SOLE		2,263	0	150
Berkshire Hathaway cl. A (1/10	COM	084990175	1,058	200	SH		SOLE		200	0	0
Berkshire Hathaway cl. B	COM	084670702	2,984	8,456	SH		SOLE		8,234	0	222
Bhang Inc.	COM	08862k105	1	20,000	SH		SOLE		20,000	0	0
Bristol-Myers Squibb	COM	110122108	1,788	24,478	SH		SOLE		23,888	0	590
Broadcom Inc.	COM	11135f101	2,281	3,623	SH		SOLE		3,460	0	163
Bunge Ltd	COM	g16962105	2,243	20,242	SH		SOLE		19,522	0	720
CVS Caremark Corp	COM	126650100	3,386	33,458	SH		SOLE		32,083	0	1,376
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Capital One Finl	COM	14040H105	440	3,355	SH		SOLE		3,130	0	225
Carnival Corporation	COM	143658300	212	10,500	SH		SOLE		10,350	0	150
Caterpillar Inc.	COM	149123101	1,829	8,208	SH		SOLE		8,088	0	120
Chevron Corp.	COM	166764100	1,199	7,363	SH		SOLE		7,098	0	265
China Jo-Jo Drugstores, Inc.	COM	16949a206	6	19,000	SH		SOLE		19,000	0	0
Cigna Corp.	COM	125523100	214	895	SH		SOLE		895	0	0
Cisco Systems Inc.	COM	17275R102	728	13,053	SH		SOLE		12,498	0	555
Citigroup Inc.	COM	172967424	1,366	25,574	SH		SOLE		24,904	0	670
Coca-Cola Co.	COM	191216100	288	4,646	SH		SOLE		4,166	0	480
Colgate-Palmolive Co.	COM	194162103	411	5,416	SH		SOLE		5,016	0	400
Costco	COM	22160K105	202	350	SH		SOLE		350	0	0
Coterra Energy Inc.	COM	127097103	361	13,400	SH		SOLE		13,400	0	0
Deere & Co	COM	244199105	376	906	SH		SOLE		906	0	0
Diebold, Incorporated	COM	253651103	233	34,675	SH		SOLE		34,675	0	0
Dominion Resources Inc.	COM	25746U109	261	3,074	SH		SOLE		2,804	0	270
Expedia Group, Inc.	COM	30212P303	328	1,674	SH		SOLE		1,654	0	20
Exxon-Mobil	COM	30231G102	374	4,528	SH		SOLE		4,378	0	150
Facebook Inc.	COM	30303m102	450	2,024	SH		SOLE		1,524	0	500
Fastenal Co.	COM	311900104	473	7,956	SH		SOLE		7,356	0	600
FedEx Corp.	COM	31428X106	663	2,865	SH		SOLE		2,810	0	55
Fiserv Inc.	COM	337738108	5,040	49,708	SH		SOLE		48,733	0	975
Freeport-McMoran	COM	35671D857	2,348	47,200	SH		SOLE		45,210	0	1,990
GXO Logistics, Inc.	COM	36262g101	779	10,916	SH		SOLE		10,676	0	240
General Dynamics	COM	369550108	479	1,986	SH		SOLE		1,951	0	35
General Electric Co.	COM	369604301	513	5,602	SH		SOLE		5,577	0	25
Genuine Parts	COM	372460105	558	4,430	SH		SOLE		4,230	0	200
Goldman Sachs	COM	38141G104	1,819	5,511	SH		SOLE		5,351	0	160
Healthier Choices Management C	COM	42226n109	0	20,000	SH		SOLE		20,000	0	0
Helen of Troy, Ltd	COM	g4388n106	1,653	8,440	SH		SOLE		8,050	0	390
Hershey Foods Corp	COM	427866108	433	2,000	SH		SOLE		2,000	0	0
Home Depot Inc.	COM	437076102	337	1,127	SH		SOLE		1,127	0	0
Huntington Bancshares	COM	446150104	2,292	156,741	SH		SOLE		153,981	0	2,760
Ingersoll-Rand Plc	COM	45687v106	421	8,355	SH		SOLE		8,355	0	0
Intel Corp.	COM	458140100	623	12,577	SH		SOLE		12,227	0	350
Intl Business Mach. Corp.	COM	459200101	215	1,655	SH		SOLE		1,525	0	130
Invesco S&P 500 Equal Weight E	COM	46137V365	3,883	57,648	SH		SOLE		56,732	0	916
J.P. Morgan Chase	COM	46625H100	2,715	19,916	SH		SOLE		19,420	0	496
Johnson & Johnson	COM	478160104	3,848	21,711	SH		SOLE		20,836	0	875
Johnson Controls Intl plc	COM	G51502105	1,210	18,452	SH		SOLE		17,592	0	860
Kimberly-Clark Corp.	COM	494368103	1,205	9,786	SH		SOLE		9,536	0	250
Kinder Morgan, Inc.	COM	49456b101	200	10,600	SH		SOLE		10,600	0	0
Kohl's Corp.	COM	500255104	559	9,249	SH		SOLE		9,089	0	160
L3Harris Technologies, Inc.	COM	502431109	224	900	SH		SOLE		900	0	0
Lilly Eli & Co.	COM	532457108	497	1,735	SH		SOLE		1,535	0	200
Lockheed Martin Corp.	COM	539830109	375	850	SH		SOLE		850	0	0
MGE Energy	COM	55277p104	735	9,213	SH		SOLE		9,063	0	150
MGIC Investment Corp.	COM	552848103	2,685	198,144	SH		SOLE		192,779	0	5,365
ManpowerGroup Inc.	COM	56418H100	655	6,976	SH		SOLE		6,811	0	165
McDonald's	COM	580135101	1,149	4,647	SH		SOLE		4,488	0	159
Medtronic plc	COM	g5960l103	1,589	14,323	SH		SOLE		13,548	0	775
Merck & Co. Inc.	COM	58933y105	220	2,682	SH		SOLE		2,442	0	240
Microsoft Corp.	COM	594918104	9,983	32,381	SH		SOLE		31,694	0	687
Modine Manufacturing	COM	607828100	400	44,439	SH		SOLE		42,839	0	1,600
Mosaic Company	COM	61945c103	1,615	24,290	SH		SOLE		22,865	0	1,425
NVidia Corp	COM	67066G104	2,766	10,138	SH		SOLE		9,993	0	145
Novartis AG	COM	66987v109	709	8,082	SH		SOLE		7,992	0	90
O-I Glass, Inc.	COM	67098h104	3,475	263,635	SH		SOLE		260,010	0	3,625
Olaplex Holdings, Inc.	COM	679369108	465	29,735	SH		SOLE		29,390	0	345
Olin Corp	COM	680665205	2,154	41,200	SH		SOLE		39,900	0	1,300
Omnicom Group	COM	681919106	437	5,150	SH		SOLE		5,150	0	0
Oracle Corp.	COM	68389X105	896	10,831	SH		SOLE		10,281	0	550
Oshkosh Corp	COM	688239201	1,268	12,597	SH		SOLE		12,127	0	470
PayPal Holdings, Inc.	COM	70450y103	1,297	11,215	SH		SOLE		10,894	0	321
Paychex	COM	704326107	428	3,135	SH		SOLE		3,135	0	0
Pepsico Inc.	COM	713448108	2,040	12,189	SH		SOLE		11,739	0	450
Pfizer Inc.	COM	717081103	872	16,846	SH		SOLE		16,696	0	150
Philip Morris International	COM	718172109	232	2,471	SH		SOLE		2,346	0	125
Procter & Gamble Co.	COM	742718109	1,097	7,181	SH		SOLE		6,631	0	550
Public Storage Inc REIT	COM	74460D109	288	737	SH		SOLE		737	0	0
Quad/Graphics, Inc.	COM	747301109	185	26,650	SH		SOLE		26,650	0	0
Qualcomm Inc.	COM	747525103	1,999	13,079	SH		SOLE		12,759	0	320
RPM Inc.	COM	749685103	1,410	17,310	SH		SOLE		16,780	0	530
Range Resources	COM	75281a109	587	19,320	SH		SOLE		18,570	0	750
Regal-Beloit Corp.	COM	758750103	1,200	8,063	SH		SOLE		7,573	0	490
Square, Inc.	COM	852234103	268	1,978	SH		SOLE		1,898	0	80
Stanley Black & Decker, Inc.	COM	854502101	303	2,165	SH		SOLE		2,040	0	125
Tapestry, Inc.	COM	876030107	1,744	46,949	SH		SOLE		45,959	0	990
Target Corp.	COM	87612E106	1,064	5,012	SH		SOLE		4,870	0	142
Tesla Motors, Inc.	COM	88160R101	817	758	SH		SOLE		758	0	0
The Interpublic Group of Compa	COM	460690100	311	8,766	SH		SOLE		8,766	0	0
The Walt Disney Co.	COM	254687106	692	5,049	SH		SOLE		5,049	0	0
Union Pacific Corp.	COM	907818108	301	1,101	SH		SOLE		1,101	0	0
UnitedHealth Group Inc	COM	91324p102	2,669	5,234	SH		SOLE		5,096	0	138
VF Corp	COM	918204108	599	10,534	SH		SOLE		9,754	0	780
Verizon	COM	92343V104	1,172	23,013	SH		SOLE		22,863	0	150
Vodafone Grp PLC	COM	92857w308	1,835	110,435	SH		SOLE		107,007	0	3,428
WD 40 Company	COM	929236107	314	1,715	SH		SOLE		1,715	0	0
WEC Energy Group, Inc.	COM	92939u106	1,084	10,864	SH		SOLE		10,339	0	525
Wal-Mart Stores Inc.	COM	931142103	763	5,126	SH		SOLE		4,976	0	150
Walgreens Boots Alliance	COM	931427108	620	13,840	SH		SOLE		13,285	0	555
Wells Fargo & Co.	COM	949746101	1,439	29,703	SH		SOLE		29,068	0	635
XCel Energy Inc.	COM	98389b100	626	8,672	SH		SOLE		8,672	0	0
XPO Logistics, Inc.	COM	983793100	792	10,876	SH		SOLE		10,661	0	215
Duff & Phelps Select Income Fu	ETF	23325P104	155	13,129	SH		SOLE		12,629	0	500
Invesco NASDAQ 100 Index Track	ETF	46090e103	266	735	SH		SOLE		730	0	5
Invesco S&P 500 Equal Weight	ETF	46137v357	374	2,373	SH		SOLE		2,373	0	0
Madison Covered Call&Equity St	ETF	557437100	88	11,155	SH		SOLE		9,755	0	1,400
S&P 500/Barra Growth (iShares)	ETF	464287309	223	2,918	SH		SOLE		2,868	0	50
S&P 500/Barra Value (iShares)	ETF	464287408	333	2,140	SH		SOLE		2,105	0	35
S&P Dep Receipts	ETF	78462f103	525	1,162	SH		SOLE		952	0	210
S&P Midcap 400 Index (iShares)	ETF	464287507	1,284	4,784	SH		SOLE		4,563	0	221
SPDR Portfolio Mid Cap ETF	ETF	78464A847	304	6,440	SH		SOLE		6,371	0	69
SPDR Portfolio S&P 500 High Di	ETF	78468r788	2,430	55,301	SH		SOLE		52,701	0	2,600
SPDR S&P 500 Growth ETF	ETF	78464A409	6,560	99,084	SH		SOLE		93,652	0	5,432
SPDR S&P 500 Value ETF	ETF	78464A508	6,485	155,322	SH		SOLE		146,520	0	8,803
Schwab U.S. Large-Cap ETF	ETF	808524201	515	9,560	SH		SOLE		9,560	0	0
Schwab U.S. Large-Cap Growth E	ETF	808524300	764	10,210	SH		SOLE		9,462	0	748
Schwab US Dividend Equity ETF	ETF	808524797	871	11,043	SH		SOLE		10,393	0	650
Vanguard Mega Cap 300 Growth I	ETF	921910816	460	1,952	SH		SOLE		1,952	0	0
Vanguard Total Stock Market ET	ETF	922908769	295	1,296	SH		SOLE		1,282	0	14
iShares Core S&P U.S. Growth E	ETF	464287671	336	3,176	SH		SOLE		3,176	0	0
iShares Russell Growth Midcap	ETF	464287481	244	2,424	SH		SOLE		2,424	0	0
S&P 600/Barra Growth Index (iS	SMLC	464287887	2,877	22,999	SH		SOLE		22,177	0	822
S&P 600/Barra Value Index (iSh	SMLC	464287879	3,921	38,297	SH		SOLE		37,192	0	1,105
SPDR Portfolio Small Cap ETF	SMLC	78468R853	7,454	177,178	SH		SOLE		173,856	0	3,322
Schwab U.S. Small-Cap ETF	SMLC	808524607	1,331	28,098	SH		SOLE		25,492	0	2,606
Vanguard Small Cap ETF	SMLC	922908751	265	1,248	SH		SOLE		1,248	0	0
iShares S&P SmallCap 600 Index	SMLC	464287804	397	3,682	SH		SOLE		3,307	0	375
Europe/Australia/Far-East Inde	INTL	464287465	530	7,208	SH		SOLE		7,043	0	165
MSCI Emerging Markets Index (i	INTL	464287234	397	8,786	SH		SOLE		8,331	0	455
MSCI Japan Index (iShares)	INTL	46434g822	383	6,222	SH		SOLE		5,987	0	235
SPDR Portfolio Emerging Market	INTL	78463X509	2,219	57,440	SH		SOLE		55,914	0	1,526
SPDR S&P Developed World ex-US	INTL	78463X889	2,258	65,855	SH		SOLE		65,190	0	665
Schwab Fundamental Emerg Mkts	INTL	808524730	1,003	34,655	SH		SOLE		34,175	0	480
Schwab International Equity ET	INTL	808524805	7,418	202,015	SH		SOLE		195,833	0	6,182
Vanguard Emerging Markets Stoc	INTL	922042858	477	10,351	SH		SOLE		10,126	0	225
Vanguard FTSE All-World ex-US	INTL	922042775	230	3,993	SH		SOLE		3,993	0	0
Vanguard FTSE Developed Market	INTL	921943858	2,123	44,206	SH		SOLE		42,281	0	1,925
Wisdom Tree Japan Hedged Equit	INTL	97717W851	443	6,915	SH		SOLE		6,430	0	485
WisdomTree EAFE Dividend-Wgtd	INTL	97717w703	1,295	24,556	SH		SOLE		24,056	0	500
WisdomTree Emerg Mkts High-Yie	INTL	97717w315	440	10,052	SH		SOLE		9,917	0	135
WisdomTree Int'l Hedged Divide	INTL	97717x594	229	5,325	SH		SOLE		5,125	0	200
iShares MSCI All Country Asia	INTL	464288182	474	6,316	SH		SOLE		5,611	0	705
iShares MSCI Emerging Markets	INTL	46434g764	897	15,424	SH		SOLE		15,284	0	140
BlackRock Int. Duration Munici	FIXD	09253X102	1,142	87,003	SH		SOLE		83,863	0	3,140
BlackRock MuniAssets Fund	FIXD	09254j102	1,111	86,815	SH		SOLE		84,815	0	2,000
Calamos Convertible & High Inc	FIXD	12811p108	474	33,609	SH		SOLE		31,309	0	2,300
Eaton Vance Limited Duration I	FIXD	27828h105	420	35,889	SH		SOLE		32,789	0	3,100
First Trust TCW Opportunistic	FIXD	33740F805	1,600	32,266	SH		SOLE		30,301	0	1,965
Invesco CEF Income Composite E	FIXD	46138e404	626	28,377	SH		SOLE		24,580	0	3,797
Invesco Ultra Short-Duration E	FIXD	46090a887	593	11,900	SH		SOLE		11,400	0	500
Nuveen Dividend Advantage Muni	FIXD	67071l106	159	10,725	SH		SOLE		10,725	0	0
Nuveen Municipal Value Fund In	FIXD	670928100	245	25,600	SH		SOLE		25,600	0	0
PIMCO Corporate Opportunity Fu	FIXD	72201b101	332	21,612	SH		SOLE		20,612	0	1,000
PIMCO Enhanced Short Maturity	FIXD	72201r643	593	5,982	SH		SOLE		5,926	0	56
PIMCO Enhanced Short Maturity	FIXD	72201r833	1,177	11,751	SH		SOLE		11,501	0	250
Pacer Trendpilot US Bond ETF	FIXD	69374h642	4,293	176,609	SH		SOLE		171,008	0	5,600
SPDR Blackstone Senior Loan	FIXD	78467v608	4,270	94,970	SH		SOLE		86,145	0	8,825
SPDR Lehman Municipal Bond ETF	FIXD	78468r721	222	4,645	SH		SOLE		4,645	0	0
SPDR Short Term Municipal Bond	FIXD	78468r739	1,413	29,858	SH		SOLE		28,858	0	1,000
Schwab U.S. TIPS ETF	FIXD	808524870	2,745	45,210	SH		SOLE		43,109	0	2,101
Vanguard Total Intl Bond Ind E	FIXD	92203j407	235	4,478	SH		SOLE		4,478	0	0
WisdomTree Floating Rate Treas	FIXD	97717y527	1,840	36,590	SH		SOLE		34,692	0	1,898
iShares Barclays TIPS Bond Fun	FIXD	464287176	570	4,572	SH		SOLE		4,072	0	500
iShares Core International Agg	FIXD	46435g672	1,687	32,361	SH		SOLE		31,284	0	1,077
Gold Shares SPDR	CMDT	78463v107	3,124	17,293	SH		SOLE		16,925	0	368
iShares Gold Trust	CMDT	464285204	351	9,523	SH		SOLE		7,923	0	1,600
iShares Gold Trust Micro	CMDT	46436F103	4,937	255,008	SH		SOLE		247,420	0	7,588
iShares Silver Trust	CMDT	46428q109	364	15,930	SH		SOLE		15,330	0	600
Cohen & Steers Realty Fund (iS	REAL	464287564	232	3,270	SH		SOLE		2,920	0	350
DJ Wilshire Int'l Real Estate	REAL	78463x863	788	23,115	SH		SOLE		21,460	0	1,655
Invesco MSCI Global Timber ETF	REAL	46138e545	275	7,775	SH		SOLE		7,125	0	650
SPDR Dow Jones Global Real Est	REAL	78463x749	767	14,210	SH		SOLE		13,834	0	376
iShares S&P Global Timber & Fo	REAL	464288174	631	7,065	SH		SOLE		6,710	0	355
ProShares S&P 500 Index Invers	HEDG	74347b425	206	14,625	SH		SOLE		14,025	0	600