Instuitional Investor - Hudson Valley Investment Advisors Inc V

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Microsoft Corp	MSFT	95,244	$35,686,967	4.93%
2.	Eli Lilly & Co	LLY	50,290	$31,483,049	4.35%
3.	Orange County Bancorp Inc.	OBT	598,510	$31,236,237	4.32%
4.	Spdr Series Trust		838,784	$27,386,298	3.79%
5.	Apple Inc.	AAPL	132,399	$24,567,986	3.4%