Yellowstone Partners 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
ABBOTT LABORATORIES	COM	002824100	1,133	29,414	SH		SOLE		0	0	29,414
AFLAC INC	COM	001055102	987	15,649	SH		SOLE		0	0	15,649
ALPHABET INC. CLASS A	COM	02079K305	504	452	SH		SOLE		0	0	452
ALPS ALERIAN MLP ETF	COM	00162Q866	819	46,365	SH		SOLE		0	0	46,365
ALTRIA GROUP INC	COM	02209S103	357	9,529	SH		SOLE		0	0	9,529
AMERICAN INTL GROUP	COM	026874784	1,478	29,555	SH		SOLE		0	0	29,555
APPLE INC	COM	037833100	3,648	6,797	SH		SOLE		0	0	6,797
Alliancebernstein Natl Muni In	COM	01864U106	139	10,511	SH		SOLE		0	0	10,511
Amazon Com Incorporated	COM	023135106	287	854	SH		SOLE		0	0	854
Annaly Cap Mgmt Incorporated R	COM	035710409	388	35,335	SH		SOLE		0	0	35,335
At&t Corporation Com New	COM	001957505	389	11,098	SH		SOLE		0	0	11,098
BCE INC F	COM	05534B760	368	8,540	SH		SOLE		0	0	8,540
BED BATH & BEYOND	COM	075896100	275	4,004	SH		SOLE		0	0	4,004
BLACKROCK INC	COM	09247X101	394	1,254	SH		SOLE		0	0	1,254
BP PLC F ADR 1 ADR REPS 6 ORD	COM	055622104	971	20,181	SH		SOLE		0	0	20,181
BUNGE LIMITED F	COM	G16962105	570	7,167	SH		SOLE		0	0	7,167
Blackrock Limited Duration Inc	COM	09249W101	204	11,885	SH		SOLE		0	0	11,885
Blackrock Mun Income Tr Bric E	COM	09248F109	520	39,029	SH		SOLE		0	0	39,029
Blackrock Muni Income Tr Ii	COM	09249N101	328	23,361	SH		SOLE		0	0	23,361
Blackrock Muniholdings Fd Inco	COM	09253N104	174	11,183	SH		SOLE		0	0	11,183
Blackrock Muniyield Fd Incorpo	COM	09253W104	299	21,721	SH		SOLE		0	0	21,721
Blackrock Strategic Mun Tr	COM	09248T109	232	18,120	SH		SOLE		0	0	18,120
CARDINAL HEALTH INC	COM	14149Y108	1,162	16,598	SH		SOLE		0	0	16,598
CATERPILLAR INC	COM	149123101	754	7,589	SH		SOLE		0	0	7,589
CELGENE CORP	COM	151020104	1,108	7,938	SH		SOLE		0	0	7,938
CHEVRON CORPORATION	COM	166764100	8,396	70,612	SH		SOLE		0	0	70,612
CHICAGO BRDG &IRON CO NV	COM	167250109	4,468	51,271	SH		SOLE		0	0	51,271
COCA COLA COMPANY	COM	191216100	651	16,846	SH		SOLE		0	0	16,846
COGNIZANT TECH SOLU CLASS A	COM	192446102	5,041	99,628	SH		SOLE		0	0	99,628
CONOCOPHILLIPS	COM	20825C104	211	2,995	SH		SOLE		0	0	2,995
CORNING INC	COM	219350105	350	16,809	SH		SOLE		0	0	16,809
COSTCO WHOLESALE CO	COM	22160K105	980	8,772	SH		SOLE		0	0	8,772
COVIDIEN PLC NEW F	COM	G2554F113	654	8,881	SH		SOLE		0	0	8,881
CREDIT SUS X LKS CHG MLP INFR	COM	22542d852	271	8,494	SH		SOLE		0	0	8,494
CUMMINS INC	COM	231021106	857	5,751	SH		SOLE		0	0	5,751
CVS HEALTH CORP	COM	126650100	224	2,987	SH		SOLE		0	0	2,987
Calamos Strategic Totl Retn Fd	COM	128125101	120	10,800	SH		SOLE		0	0	10,800
Celanese Corporation Del Com S	COM	150870103	321	5,779	SH		SOLE		0	0	5,779
Central Fd Cda Limited Class A	COM	153501101	502	36,500	SH		SOLE		0	0	36,500
Cimpress N V Shs Euro (NETHERL	COM	N20146101	3,731	75,798	SH		SOLE		0	0	75,798
D R Horton Incorporated	COM	23331A109	232	10,700	SH		SOLE		0	0	10,700
DAVITA HEALTHCARE PTNR	COM	23918K108	3,773	54,803	SH		SOLE		0	0	54,803
DEERE & CO	COM	244199105	364	4,010	SH		SOLE		0	0	4,010
DIRECTV	COM	25490A309	1,036	13,553	SH		SOLE		0	0	13,553
DISCOVER FINANCIAL S	COM	254709108	440	7,555	SH		SOLE		0	0	7,555
Dexcom Incorporated	COM	252131107	266	6,440	SH		SOLE		0	0	6,440
Diamond Offshore Drilling Inco	COM	25271C102	239	4,894	SH		SOLE		0	0	4,894
Dreyfus Strategic Mun Bd Fd	COM	26202F107	212	27,174	SH		SOLE		0	0	27,174
Dreyfus Strategic Muns Incorpo	COM	261932107	195	24,016	SH		SOLE		0	0	24,016
EATON CORP PLC F	COM	G29183103	655	8,719	SH		SOLE		0	0	8,719
EMC CORP MASS	COM	268648102	440	16,045	SH		SOLE		0	0	16,045
ENERGIZER HOLDINGS I	COM	29272w109	3,560	35,335	SH		SOLE		0	0	35,335
ENERGY TRANSFER PART LP	COM	29273R109	244	4,529	SH		SOLE		0	0	4,529
ENTERPRISE PRODUCTS LP	COM	293792107	631	9,091	SH		SOLE		0	0	9,091
EOG RESOURCES INC	COM	26875P101	915	4,664	SH		SOLE		0	0	4,664
EXPRESS SCRIPTS HLDG	COM	30219G108	4,413	58,765	SH		SOLE		0	0	58,765
EXXON MOBIL CORP	COM	30231G102	1,240	12,693	SH		SOLE		0	0	12,693
Eaton Vance Mun Bd Fd	COM	27827X101	259	21,838	SH		SOLE		0	0	21,838
Eaton Vance Sr Fltng Rte Tr	COM	27828Q105	217	14,343	SH		SOLE		0	0	14,343
Enerplus Corporation (CANADA)	COM	292766102	240	12,050	SH		SOLE		0	0	12,050
Ensco Plc Shs Class A (UNITED	COM	G3157S106	335	6,355	SH		SOLE		0	0	6,355
FLY LEASING LTD ADR F SPONSORE	COM	34407D109	238	15,900	SH		SOLE		0	0	15,900
FRAC KINDER MORGAN MGMT	COM	eke55u103	0	78,542	SH		SOLE		0	0	78,542
FREEPORT MCMORAN INC	COM	35671D857	851	25,740	SH		SOLE		0	0	25,740
FRONTIER COMM CO	COM	35906A108	59	10,285	SH		SOLE		0	0	10,285
Flexpoint Sensor Systems Incor	COM	33938W206	1	12,700	SH		SOLE		0	0	12,700
Franklin Res Incorporated	COM	354613101	248	4,585	SH		SOLE		0	0	4,585
GENERAC HOLDINGS INC	COM	368736104	275	4,665	SH		SOLE		0	0	4,665
GENERAL ELECTRIC CO	COM	369604103	1,840	71,085	SH		SOLE		0	0	71,085
GENERAL MILLS INC	COM	370334104	399	7,703	SH		SOLE		0	0	7,703
GLAXOSMITHKLINE PLC F ADR 1 AD	COM	37733W105	392	7,329	SH		SOLE		0	0	7,329
Gabelli Util Tr	COM	36240A101	75	11,000	SH		SOLE		0	0	11,000
HALLIBURTON CO HLDG	COM	406216101	6,088	103,381	SH		SOLE		0	0	103,381
HERCULES TECH GROWTH	COM	427096508	328	23,289	SH		SOLE		0	0	23,289
HOLLYFRONTIER CORP	COM	436106108	279	5,868	SH		SOLE		0	0	5,868
Harmonic Energy Incorporated	COM	413159104	0	28,600	SH		SOLE		0	0	28,600
Hertz Global Hldgs Incorporate	COM	42805T105	675	25,343	SH		SOLE		0	0	25,343
IBM CORP	COM	459200101	3,898	20,251	SH		SOLE		0	0	20,251
INTEL CORP	COM	458140100	330	12,772	SH		SOLE		0	0	12,772
INVESCO LTD F	COM	G491BT108	591	15,962	SH		SOLE		0	0	15,962
ISHARES 1-3 YEAR CREDIT BOND E	COM	464288646	605	5,736	SH		SOLE		0	0	5,736
ISHARES CORE S&P MID CAP ETF	COM	464287507	483	3,513	SH		SOLE		0	0	3,513
ISHARES CORE US AGGRGT BOND ET	COM	464287226	974	9,028	SH		SOLE		0	0	9,028
ISHARES IBOXX INVT GRADE BOND	COM	464287242	992	8,480	SH		SOLE		0	0	8,480
ISHARES INTERM CREDIT BOND ETF	COM	464288638	249	2,284	SH		SOLE		0	0	2,284
ISHARES JPMORGAN USD MTS BOND	COM	464288281	334	3,000	SH		SOLE		0	0	3,000
ISHARES NATIONL MUNI ETF	COM	464288414	549	5,125	SH		SOLE		0	0	5,125
ISHARES RUSSELL 2000 ETF	COM	464287655	248	2,131	SH		SOLE		0	0	2,131
ISHARES S&P 500 VALUE ETF IV	COM	464287408	474	5,450	SH		SOLE		0	0	5,450
ISHARES S&P MID CAP 400 VALUE	COM	464287705	830	6,890	SH		SOLE		0	0	6,890
ISHARES SELECT DIVIDEND ETF IV	COM	464287168	657	8,965	SH		SOLE		0	0	8,965
ISHARES TIPS BOND ETF	COM	464287176	465	4,147	SH		SOLE		0	0	4,147
ISHARES U.S. PREFERRED STOCK E	COM	464288687	337	8,631	SH		SOLE		0	0	8,631
ITUS CORPORATION	COM	45069v104	19	65,000	SH		SOLE		0	0	65,000
Illumina Incorporated	COM	452327109	730	4,912	SH		SOLE		0	0	4,912
Independence Gold Corporation	COM	45344A107	1	10,000	SH		SOLE		0	0	10,000
Invesco Sr Income Tr	COM	46131H107	139	27,778	SH		SOLE		0	0	27,778
Iron Mtn Incorporated New Reit	COM	46284V101	3,340	121,135	SH		SOLE		0	0	121,135
JOHNSON & JOHNSON	COM	478160104	1,226	12,480	SH		SOLE		0	0	12,480
JP MORGAN CHASE ALERIAN ETN	COM	46625H365	258	5,544	SH		SOLE		0	0	5,544
KEURIG GREEN MTN INC	COM	49271M100	280	2,655	SH		SOLE		0	0	2,655
KINDER MORGAN MGMT LLC	COM	49455U100	4,317	60,234	SH		SOLE		0	0	60,234
LYONDELLBASELL INDS F CLASS A	COM	N53745100	413	4,642	SH		SOLE		0	0	4,642
Linn Energy Llc Unit Ltd Liab	COM	536020100	286	10,085	SH		SOLE		0	0	10,085
MC DONALDS CORP	COM	580135101	377	3,842	SH		SOLE		0	0	3,842
MEDTRONIC PLC F	COM	G5960L103	826	13,429	SH		SOLE		0	0	13,429
MFS INVESTMENT GRADE MUN	COM	59318B108	105	11,800	SH		SOLE		0	0	11,800
MICROSOFT CORP	COM	594918104	6,870	167,598	SH		SOLE		0	0	167,598
Mfc Indl Limited (CANADA)	COM	55278T105	258	32,440	SH		SOLE		0	0	32,440
Mfs Charter Income Tr Sh Ben I	COM	552727109	190	20,813	SH		SOLE		0	0	20,813
Mfs Govt Mkts Income Tr Sh Ben	COM	552939100	73	12,847	SH		SOLE		0	0	12,847
Mfs Inter Income Tr Sh Ben Int	COM	55273C107	276	53,316	SH		SOLE		0	0	53,316
Mfs Intermarket Income Trust I	COM	59318R103	119	14,275	SH		SOLE		0	0	14,275
Mfs Multimarket Income Tr Sh B	COM	552737108	203	31,163	SH		SOLE		0	0	31,163
Mosaic Company New	COM	61945C103	299	5,981	SH		SOLE		0	0	5,981
NATIONAL OILWELL VAR	COM	637071101	470	6,030	SH		SOLE		0	0	6,030
NCR CORPORATION	COM	62886e108	5,167	141,378	SH		SOLE		0	0	141,378
NEXTERA ENERGY INC	COM	65339F101	491	5,132	SH		SOLE		0	0	5,132
NUVEEN DIVIDEND ADVANXXX MANDA	COM	67070f100	350	25,913	SH		SOLE		0	0	25,913
NUVEEN ENHANCED MCPL CRE	COM	67070X101	449	34,269	SH		SOLE		0	0	34,269
NUVEEN ENHNCD AMT FREE M	COM	67071L106	552	41,376	SH		SOLE		0	0	41,376
NUVEEN MUNI MARKET OPPOR	COM	67062W103	133	10,400	SH		SOLE		0	0	10,400
NUVEEN MUNICIPAL ADVAXXX MANDA	COM	67062h106	206	15,837	SH		SOLE		0	0	15,837
NUVEEN PREMIUM INCOME MU	COM	67063W102	143	10,696	SH		SOLE		0	0	10,696
Northstar Rlty Fin Corporation	COM	66704R803	327	20,252	SH		SOLE		0	0	20,252
Nu Skin Enterprises Incorporat	COM	67018T105	247	2,980	SH		SOLE		0	0	2,980
Nuveen Build Amer Bd Fd	COM	67074C103	202	10,308	SH		SOLE		0	0	10,308
Nuveen Mun Value Fd Incorporat	COM	670928100	296	31,342	SH		SOLE		0	0	31,342
Nuveen Quality Preferred Incom	COM	67071S101	90	11,126	SH		SOLE		0	0	11,126
Nuveen Real Estate Income Fd	COM	67071B108	177	16,500	SH		SOLE		0	0	16,500
Nuveen Select Tax Free Incm Pt	COM	67062F100	208	15,414	SH		SOLE		0	0	15,414
Nuveen Sr Income Fd	COM	67067Y104	142	19,840	SH		SOLE		0	0	19,840
OCCIDENTAL PETROL CO	COM	674599105	1,307	13,712	SH		SOLE		0	0	13,712
OMEGA HLTHCARE INVTS REIT	COM	681936100	407	12,151	SH		SOLE		0	0	12,151
ORACLE CORPORATION	COM	68389X105	5,750	140,544	SH		SOLE		0	0	140,544
Oneok Incorporated New	COM	682680103	430	7,262	SH		SOLE		0	0	7,262
PCS EDVENTURES.COM	COM	69325n102	25	415,000	SH		SOLE		0	0	415,000
PEPSICO INCORPORATED	COM	713448108	618	7,406	SH		SOLE		0	0	7,406
PFIZER INCORPORATED	COM	717081103	207	6,454	SH		SOLE		0	0	6,454
PHILIP MORRIS INTL	COM	718172109	527	6,438	SH		SOLE		0	0	6,438
PIMCO TOTAL RETURN ACTIVE ETF	COM	72201R775	225	2,111	SH		SOLE		0	0	2,111
PINNACLE FOODS INC	COM	72348P104	397	13,287	SH		SOLE		0	0	13,287
POWERSHARE NATL AMT FRE MUNI B	COM	73936T474	338	14,005	SH		SOLE		0	0	14,005
POWERSHARES BUILD AMERICA ETF	COM	73937B407	1,620	56,375	SH		SOLE		0	0	56,375
POWERSHARES EMRG MKTS SOVRGN D	COM	73936T573	201	7,192	SH		SOLE		0	0	7,192
PROCTER & GAMBLE	COM	742718109	1,096	13,593	SH		SOLE		0	0	13,593
PROSHARES ULTRAPRO SHORT S&P 5	COM	74348A442	475	8,474	SH		SOLE		0	0	8,474
PUTNAM MUNICIPAL OPPRTUN	COM	746922103	167	14,700	SH		SOLE		0	0	14,700
Plains All Amern Pipeline L P	COM	726503105	313	5,675	SH		SOLE		0	0	5,675
QUALCOMM INC	COM	747525103	388	4,919	SH		SOLE		0	0	4,919
SCHLUMBERGER LTD F	COM	806857108	816	8,366	SH		SOLE		0	0	8,366
SHERWIN WILLIAMS CO	COM	824348106	2,348	11,913	SH		SOLE		0	0	11,913
SOUTHERN COMPANY	COM	842587107	214	4,860	SH		SOLE		0	0	4,860
SPDR BARCLAYS HIGH YIELD BOND	COM	78464A417	592	14,330	SH		SOLE		0	0	14,330
SPDR NUVEEN BARCLAYS SHORT TER	COM	78468R739	550	22,655	SH		SOLE		0	0	22,655
SPDR S&P DIVIDEND ETF IV	COM	78464A763	851	11,560	SH		SOLE		0	0	11,560
STARBUCKS CORP	COM	855244109	527	7,176	SH		SOLE		0	0	7,176
Smith & Wesson Hldg Corporatio	COM	831756101	314	21,507	SH		SOLE		0	0	21,507
Spark Networks Incorporated	COM	84651P100	240	45,854	SH		SOLE		0	0	45,854
Spdr Gold Tr Gold Shs	COM	78463V107	745	6,030	SH		SOLE		0	0	6,030
Sprott Physical Gold Trust Uni	COM	85207H104	437	41,000	SH		SOLE		0	0	41,000
Sprott Physical Silver Tr Tr U	COM	85207K107	494	63,000	SH		SOLE		0	0	63,000
TARGET CORPORATION	COM	87612E106	706	11,666	SH		SOLE		0	0	11,666
U S BANCORP	COM	902973304	4,115	96,010	SH		SOLE		0	0	96,010
VALEANT PHARMA INTL F	COM	91911K102	7,412	56,224	SH		SOLE		0	0	56,224
VANGUARD DIVIDEND APPRECIATION	COM	921908844	1,030	13,689	SH		SOLE		0	0	13,689
VANGUARD SHORT-TERM BOND ETF	COM	921937827	207	2,582	SH		SOLE		0	0	2,582
VANGUARD TOTAL BOND MARKET ETF	COM	921937835	1,089	13,409	SH		SOLE		0	0	13,409
VERIZON COMMUNICATN	COM	92343V104	274	5,759	SH		SOLE		0	0	5,759
VODAFONE GROUP NEW ADR F SPONS	COM	92857W209	488	13,252	SH		SOLE		0	0	13,252
Vereit Incorporated Reit	COM	92339V100	394	28,097	SH		SOLE		0	0	28,097
W.P. CAREY INC. REIT	COM	92936U109	323	5,375	SH		SOLE		0	0	5,375
WELLS FARGO BK N A	COM	949746101	261	5,244	SH		SOLE		0	0	5,244
WILLIAMS COMPANIES	COM	969457100	651	16,035	SH		SOLE		0	0	16,035
Wausau Paper Corporation	COM	943315101	173	13,597	SH		SOLE		0	0	13,597
Windstream Hldgs Incorporated	COM	97382A200	169	20,542	SH		SOLE		0	0	20,542
BOARDWALK PIPELINE PARTNERS CO	COM	096627104	177	13,235	SH		SOLE		0	0	13,235
Exterran Partners Lp Com Units	COM	30225N105	212	7,455	SH		SOLE		0	0	7,455
Regency Energy Partners L P Co	COM	75885Y107	234	8,595	SH		SOLE		0	0	8,595