OARSMAN CAPITAL, INC. — 13F Holdings & Portfolio
CIK 1569667 · latest 13F-HR filed 2026-08-07
OARSMAN CAPITAL, INC. manages $944.8M in 13F-reported U.S. long-equity assets across 244 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are AGG (9.13%), SCHF (8.91%), VTV (7.97%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 24 new positions and exited 15; 122 existing positions rose in reported value and 50 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
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AUM
$944.8M
Long-equity book
Holdings
244
Distinct positions
Period
2026-06-30
Filed 2026-08-07
Q/Q Activity
+24 / −15 / ↑122 / ↓50
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26AGG9.1% · -5%SCHF8.9% · +8%VTV8.0% · +10%SPYG7.9% · +16%SPMD4.6% · +9%RSP4.0% · +7%SPSM3.6% · +6%GVI3.0% · -7%GOOG2.7% · +10%SPYM2.7% · +67%EMXC1.8% · +2%IVV1.7% · -9%AAPL1.6% · +4%CSSD1.6% · +3%NVDA1.5% · -3%XC1.3% · +8%MSFT1.3% · +4%APG1.1% · +1268%AVGO1.0% · +1%SCHC1.0% · +390%CAT0.9% · -1%AAAU0.9% · +7%GOOGL0.8% · +0%AMZN0.8% · +3%JPST0.8% · -7%GS0.6% · +1%JPRE0.6% · +17%HPE0.6% · -8%APH0.6% · +1%RSPG0.6% · +1%C0.6% · +1%ABBV0.5% · +3%WMT0.5% · +0%JNJ0.5% · +1%PDBC0.5% · +4%TJX0.5% · +1%JCI0.5% · +1%META0.5% · +3%FCX0.5% · +5%CMI0.5% · +4%BRK.B0.4% · -4%IBM0.4% · +2%WFC0.4% · +3%CSCO0.4% · -9%PH0.4% · -4%NFLX0.4% · +119%IWF0.3% · +360%GWW0.3% · +5%SPY0.3% · -3%AZN0.3% · -1%ORLY0.3% · -2%IXUS0.3% · +6%UBER0.3% · +37%JPM0.3% · +8%SCHZ0.3% · -4%MLPX0.3% · +0%MDT0.3% · +2%LLY0.3% · +7%VRTX0.3% · +2%KR0.3% · +3%
Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
3 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 54.6%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Sep 8, 2026.
Assets Under Management
$1.17B
Discretionary
$1.11B
Employees
21
Accounts
2,256
Address
790 NORTH WATER STREET
SUITE 1850
MILWAUKEE, WI 53202
SUITE 1850
MILWAUKEE, WI 53202
Phone
(414) 221-0081
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| KEBBEKUS, BENJAMIN, JEROME Control | VICE PRESIDENT since Jan 2021 | 10–25% | Individual |
| PAWLAK, DEREK, JOSEPH Control | VICE PRESIDENT since Sep 2023 | 10–25% | Individual |
| PHELPS, ROBERT, WYLIE Control | PRESIDENT since Sep 2000 | 10–25% | Individual |
| ALLISON FAMILY TRUST | SHAREHOLDER since Apr 2024 | 10–25% | Domestic Entity |
| GRUBER, JACLYN, ARIELLA | SHAREHOLDER since Apr 2024 | 10–25% | Individual |
| GRUNAU, PAUL, WILLIAM | SHAREHOLDER since Aug 2023 | 5–10% | Individual |
| HARTGRUNAU, JEANIE, MARIE | SHAREHOLDER since Aug 2023 | 5–10% | Individual |
| HEINIG, RANDY, JAMES | CHIEF COMPLIANCE OFFICER since Jan 2026 | Less than 5% | Individual |
| MICHAEL J. CLEARY LIVING TRUST | SHAREHOLDER since Aug 2023 | 5–10% | Domestic Entity |
| SCHUMACHER, DANA, SEAL | SHAREHOLDER since Sep 2023 | 5–10% | Individual |
| SCHUMACHER, PETER, FRANCIS | SHAREHOLDER since Aug 2023 | 5–10% | Individual |
| Suttmiller, Eric, James | SHAREHOLDER since Oct 2025 | 5–10% | Individual |
| WARNER LIVING TRUST | SHAREHOLDER since Jul 2024 | 5–10% | Domestic Entity |
| ALLISON, CHARLES, ALLARD Control Indirect owner via ALLISON FAMILY TRUST | CHUCK A. ALLISON, TRUSTEE since Apr 2024 | General partner, trustee or manager | Individual |
| CLEARY, MICHAEL, JOSEPH Control Indirect owner via MICHAEL J. CLEARY LIVING TRUST | MICHAEL J. CLEARY, TRUSTEE since Aug 2023 | General partner, trustee or manager | Individual |
| WARNER, ROBERT, LESLIE Control Indirect owner via WARNER LIVING TRUST | ROBERT L. WARNER, TRUSTEE since Jul 2024 | General partner, trustee or manager | Individual |
Ownership & leadership changes · 12 filings with changes since Mar 29, 2012
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Sep 8, 2026 filing
- ChangedALLISON FAMILY TRUST · ownership 5–10% → 10–25%
- ChangedGRUBER, JACLYN, ARIELLA · ownership 5–10% → 10–25%
- ChangedPHELPS, ROBERT, WYLIE · ownership 25–50% → 10–25%
- ChangedSuttmiller, Eric, James · ownership Less than 5% → 5–10%
May 22, 2026 filing
- ChangedHEINIG, RANDY, JAMES · no longer a control person
Mar 20, 2026 filing
- AddedHEINIG, RANDY, JAMES · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ChangedPAWLAK, DEREK, JOSEPH · title VICE PRESIDENT AND CHIEF COMPLIANCE OFFICER → VICE PRESIDENT
Nov 25, 2025 filing
- AddedSuttmiller, Eric, James · SHAREHOLDER · Less than 5%
- ChangedKEBBEKUS, BENJAMIN, JEROME · title VICE PRESIDENT AND DIRECTOR OF RESEARCH → VICE PRESIDENT
Aug 12, 2024 filing
- No longer listedDEREK JOSEPH PAWLAK AND MICHELE LEE PAWLAK · SHAREHOLDER · 5–10% · listed since Aug 2023
- No longer listedPAUL W. GRUNAU AND JEANIE M. HART-GRUNAU · SHAREHOLDER · 5–10% · listed since Aug 2023
- No longer listedPETER F. SCHUMACHER AND DANA S. SCHUMACHER · SHAREHOLDER · 5–10% · listed since Aug 2023
- AddedALLISON FAMILY TRUST · SHAREHOLDER · 5–10%
- AddedALLISON, CHARLES, ALLARD · CHUCK A. ALLISON, TRUSTEE · General partner, trustee or manager · indirect via ALLISON FAMILY TRUST · control person
- AddedGRUBER, JACLYN, ARIELLA · SHAREHOLDER · 5–10%
- AddedGRUNAU, PAUL, WILLIAM · SHAREHOLDER · 5–10%
- AddedHARTGRUNAU, JEANIE, MARIE · SHAREHOLDER · 5–10%
- AddedSCHUMACHER, DANA, SEAL · SHAREHOLDER · 5–10%
- AddedSCHUMACHER, PETER, FRANCIS · SHAREHOLDER · 5–10%
- AddedWARNER LIVING TRUST · SHAREHOLDER · 5–10%
- AddedWARNER, ROBERT, LESLIE · ROBERT L. WARNER, TRUSTEE · General partner, trustee or manager · indirect via WARNER LIVING TRUST · control person
- ChangedPAWLAK, DEREK, JOSEPH · ownership Less than 5% → 10–25%
- ChangedPHELPS, ROBERT, WYLIE · ownership 75% or more → 25–50%
Mar 31, 2024 filing
- No longer listedPETER F. SHUMACHER AND DANA S. SHUMACHER · SHAREHOLDER · 5–10% · listed since Aug 2023
- AddedCLEARY, MICHAEL, JOSEPH · MICHAEL J. CLEARY, TRUSTEE · General partner, trustee or manager · indirect via MICHAEL J. CLEARY LIVING TRUST · control person
- AddedPETER F. SCHUMACHER AND DANA S. SCHUMACHER · SHAREHOLDER · 5–10%
- ChangedMICHAEL J. CLEARY LIVING TRUST · title MICHEAL J. CLEARY TRUSTEE, SHAREHOLDER → SHAREHOLDER; no longer a control person
Sep 25, 2023 filing
- ChangedMICHAEL J. CLEARY LIVING TRUST · title SHAREHOLDER → MICHEAL J. CLEARY TRUSTEE, SHAREHOLDER; now a control person
Sep 22, 2023 filing
- No longer listedPURINTUN, ALAN, LAWRENCE · VICE PRESIDENT AND CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Sep 2000
- AddedDEREK JOSEPH PAWLAK AND MICHELE LEE PAWLAK · SHAREHOLDER · 5–10%
- AddedMICHAEL J. CLEARY LIVING TRUST · SHAREHOLDER · 5–10%
- AddedPAUL W. GRUNAU AND JEANIE M. HART-GRUNAU · SHAREHOLDER · 5–10%
- AddedPAWLAK, DEREK, JOSEPH · VICE PRESIDENT AND CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- AddedPETER F. SHUMACHER AND DANA S. SHUMACHER · SHAREHOLDER · 5–10%
Mar 24, 2023 filing
- ChangedKEBBEKUS, BENJAMIN, JEROME · title DIRECTOR OF RESEARCH → VICE PRESIDENT AND DIRECTOR OF RESEARCH; ownership 5–10% → 10–25%
- ChangedPHELPS, ROBERT, WYLIE · ownership 50–75% → 75% or more
- ChangedPURINTUN, ALAN, LAWRENCE · ownership 25–50% → Less than 5%
Mar 31, 2021 filing
- AddedKEBBEKUS, BENJAMIN, JEROME · DIRECTOR OF RESEARCH · 5–10% · control person
Older changes (3 more filings)
Feb 1, 2021 filing
- No longer listedNACKERS, GERALD, WAYNE · OWNER · 10–25% · control person · listed since Dec 2008
Mar 28, 2018 filing
- No longer listedNACKERS, THOMAS, HENRY · OWNER · 25–50% · control person · listed since Dec 2008
- ChangedPHELPS, ROBERT, WYLIE · ownership 25–50% → 50–75%
Mar 29, 2012 filing (earliest on record)
- ListedNACKERS, GERALD, WAYNE · OWNER · 10–25% · control person
- ListedNACKERS, THOMAS, HENRY · OWNER · 25–50% · control person
- ListedPHELPS, ROBERT, WYLIE · PRESIDENT · 25–50% · control person
- ListedPURINTUN, ALAN, LAWRENCE · VICE PRESIDENT AND CHIEF COMPLIANCE OFFICER · 25–50% · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- STATE STREET SPDR PORTFOLIO S&P 500 GROWTH ETF$21.9M +41.2%
- SCHWAB INTERNATIONAL EQUITY ETF$14.7M +21.1%
- VANGUARD MORNINGSTAR VALUE ETF$13.7M +22.2%
- STATE STREET SPDR PORTFOLIO S&P 500 ETF$12.3M +91.9%
- API GROUP CORP COM STK$9.7M +1329.7%
Top Trims
- ISHARES CORE U.S. AGGREGATE BOND ETF-$4.6M -5.1%
- ISHARES INTERMEDIATE GOVERNMENT/CREDIT BOND ETF-$2.2M -7.2%
- INTUIT COM-$1.8M -85.9%
- TYLER TECHNOLOGIES INC-$975.5K -82.2%
- GOLDMAN SACHS PHYSICAL GOLD ETF-$755.1K -8.5%
New Positions
- EXXONMOBIL HOLDINGS CORP COM SHS$758.7K
- VANGUARD TOTAL BOND MARKET ETF$416.5K
- DEVON ENERGY CORP NEW COM$412.0K
- CROWDSTRIKE HLDGS INC CL A$406.8K
- ISHARES ESG AWARE MSCI USA ETF$397.1K
Exited Positions
- LEIDOS HOLDINGS INC COM$2.5M
- COTERRA ENERGY INC COM$933.8K
- EXXON MOBIL CORP COM$831.6K
- SERVICENOW INC COM$363.5K
- COPART INC COM$283.8K
OARSMAN CAPITAL, INC. Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | ISHARES CORE U.S. AGGREGATE BOND ETF | AGG | 464287226 | $86.3M | 9.13% | 871,502 | SH |
| 2 | SCHWAB INTERNATIONAL EQUITY ETF | SCHF | 808524805 | $84.1M | 8.91% | 3,037,490 | SH |
| 3 | VANGUARD MORNINGSTAR VALUE ETF | VTV | 922908744 | $75.3M | 7.97% | 345,705 | SH |
| 4 | STATE STREET SPDR PORTFOLIO S&P 500 GROWTH ETF | SPYG | 78464A409 | $75.1M | 7.95% | 631,032 | SH |
| 5 | STATE STREET SPDR PORTFOLIO S&P 400 MID CAP ETF | SPMD | 78464A847 | $43.4M | 4.59% | 642,059 | SH |
| 6 | INVESCO S&P 500 EQUAL WEIGHT ETF | RSP | 46137V357 | $38.2M | 4.04% | 179,477 | SH |
| 7 | STATE STREET SPDR PORTFOLIO S&P 600 SMALL CAP ETF | SPSM | 78468R853 | $33.7M | 3.56% | 583,514 | SH |
| 8 | ISHARES INTERMEDIATE GOVERNMENT/CREDIT BOND ETF | GVI | 464288612 | $28.4M | 3.00% | 267,498 | SH |
| 9 | ALPHABET INC CAP STK CL C | GOOG | 02079K107 | $25.7M | 2.72% | 72,668 | SH |
| 10 | STATE STREET SPDR PORTFOLIO S&P 500 ETF | SPYM | 78464A854 | $25.6M | 2.71% | 291,664 | SH |
| 11 | ISHARES MSCI EMERGING MARKETS EX CHINA ETF | EMXC | 46434G764 | $17.0M | 1.80% | 166,320 | SH |
| 12 | ISHARES CORE S&P 500 ETF | IVV | 464287200 | $16.2M | 1.72% | 21,685 | SH |
| 13 | APPLE INC COM | AAPL | 037833100 | $15.1M | 1.60% | 52,336 | SH |
| 14 | COHEN & STEERS SHORT DURATION PREFERRED AND INCOME ACTIVE ETF | CSSD | 19249U401 | $14.8M | 1.57% | 588,572 | SH |
| 15 | NVIDIA CORPORATION COM | NVDA | 67066G104 | $13.7M | 1.45% | 68,606 | SH |
| 16 | WISDOMTREE TRUE EMERGING MARKETS FUND | XC | 97717Y535 | $12.1M | 1.28% | 382,488 | SH |
| 17 | MICROSOFT CORP COM | MSFT | 594918104 | $11.9M | 1.26% | 31,877 | SH |
| 18 | API GROUP CORP COM STK | APG | 00187Y100 | $10.4M | 1.10% | 246,509 | SH |
| 19 | BROADCOM INC COM | AVGO | 11135F101 | $9.7M | 1.02% | 25,549 | SH |
| 20 | SCHWAB INTERNATIONAL SMALL-CAP EQUITY ETF | SCHC | 808524888 | $9.1M | 0.96% | 189,176 | SH |
| 21 | CATERPILLAR INC COM | CAT | 149123101 | $8.2M | 0.87% | 7,683 | SH |
| 22 | GOLDMAN SACHS PHYSICAL GOLD ETF | AAAU | 38150K103 | $8.1M | 0.86% | 204,694 | SH |
| 23 | ALPHABET INC CAP STK CL A | GOOGL | 02079K305 | $7.6M | 0.81% | 21,313 | SH |
| 24 | AMAZON COM INC COM | AMZN | 023135106 | $7.5M | 0.79% | 31,260 | SH |
| 25 | JPMORGAN ULTRA-SHORT INCOME ETF | JPST | 46641Q837 | $7.4M | 0.78% | 145,712 | SH |
| 26 | GOLDMAN SACHS GROUP INC COM | GS | 38141G104 | $5.8M | 0.61% | 5,736 | SH |
| 27 | JPMORGAN REALTY INCOME ETF | JPRE | 46641Q126 | $5.6M | 0.60% | 107,800 | SH |
| 28 | HEWLETT PACKARD ENTERPRISE CO COM | HPE | 42824C109 | $5.6M | 0.60% | 124,656 | SH |
| 29 | AMPHENOL CORP CL A | APH | 032095101 | $5.6M | 0.59% | 31,744 | SH |
| 30 | INVESCO EQUAL WEIGHT ENERGY ETF | RSPG | 46137V365 | $5.5M | 0.59% | 56,517 | SH |
| 31 | CITIGROUP INC COM NEW | C | 172967424 | $5.4M | 0.57% | 38,583 | SH |
| 32 | ABBVIE INC COM | ABBV | 00287Y109 | $5.1M | 0.54% | 20,266 | SH |
| 33 | WALMART INC COM | WMT | 931142103 | $5.0M | 0.53% | 44,246 | SH |
| 34 | JOHNSON & JOHNSON COM | JNJ | 478160104 | $4.9M | 0.51% | 19,140 | SH |
| 35 | INVESCO OPTIMUM YIELD DIVERSIFIED COMMODITY STRATEGY NO K-1 ETF | PDBC | 46090F100 | $4.8M | 0.51% | 305,045 | SH |
| 36 | TJX COS INC | TJX | 872540109 | $4.6M | 0.48% | 30,172 | SH |
| 37 | JOHNSON CTLS INTL PLC SHS | JCI | G51502105 | $4.5M | 0.48% | 31,033 | SH |
| 38 | META PLATFORMS INC CL A | META | 30303M102 | $4.4M | 0.47% | 7,863 | SH |
| 39 | FREEPORT MCMORAN INC CL B | FCX | 35671D857 | $4.4M | 0.46% | 69,612 | SH |
| 40 | CUMMINS INC COM | CMI | 231021106 | $4.4M | 0.46% | 6,118 | SH |
| 41 | BERKSHIRE HATHAWAY INC DEL CL B NEW | BRK.B | 084670702 | $4.1M | 0.44% | 8,250 | SH |
| 42 | INTERNATIONAL BUSINESS MACHS COM | IBM | 459200101 | $4.0M | 0.43% | 14,288 | SH |
| 43 | WELLS FARGO & CO COM | WFC | 949746101 | $3.9M | 0.41% | 46,885 | SH |
| 44 | CISCO SYS INC COM | CSCO | 17275R102 | $3.9M | 0.41% | 32,952 | SH |
| 45 | PARKER-HANNIFIN CORP COM | PH | 701094104 | $3.8M | 0.41% | 3,929 | SH |
| 46 | NETFLIX INC. COM | NFLX | 64110L106 | $3.7M | 0.40% | 52,326 | SH |
| 47 | ISHARES RUSSELL 1000 GROWTH ETF | IWF | 464287614 | $3.2M | 0.34% | 26,115 | SH |
| 48 | WW GRAINGER INC COM | GWW | 384802104 | $3.2M | 0.34% | 2,342 | SH |
| 49 | STATE STREET SPDR S&P 500 ETF | SPY | 78462F103 | $3.1M | 0.33% | 4,204 | SH |
| 50 | ASTRAZENECA PLC ORD | AZN | G0593M107 | $3.1M | 0.33% | 16,428 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-07 | $944.8M | 244 | 0001569667-26-000003 |
| 2026-03-31 | 2026-04-28 | $805.5M | 239 | 0001569667-26-000002 |
| 2025-12-31 | 2026-02-13 | $770.7M | 245 | 0001569667-26-000001 |
Filer Information
Address
790 N. WATER ST., STE 1850MILWAUKEE, WI 53202
Phone
(414) 221-0081
Filing Manager
OARSMAN CAPITAL, INC.
MILWAUKEE, WI
Signatory
Derek Joseph Pawlak
Portfolio Manager