Hudson Valley Investment Advisors 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	885794101	2,587	18,447	SH		SOLE		14,622	0	3,825
ABBOTT LABORATORIES	COM	002824100	785	20,482	SH		SOLE		4,994	0	15,488
ABBVIE INC COM	COM	002874109	1,031	19,532	SH		SOLE		3,779	0	15,753
ACTAVIS PLC	COM	00507K103	5,024	29,904	SH		SOLE		29,904	0	0
ADSOUTH PARTNERS INC	COM	00737M200	0	10,001	SH		SOLE		0	0	10,001
ADT CORP COM	COM	00101J106	372	9,190	SH		SOLE		9,190	0	0
ALICO INC	COM	016230104	231	5,952	SH		SOLE		5,952	0	0
ALTEVA COM	COM	02153V102	424	51,942	SH		SOLE		51,942	0	0
ALTRIA GROUP INC	COM	02209S103	629	16,387	SH		SOLE		14,304	0	2,083
AMGEN INC COM	COM	031162100	552	4,843	SH		SOLE		4,043	0	800
APPLE COMPUTER INC	COM	037833100	1,725	3,075	SH		SOLE		2,703	0	372
ASTRAZENECA PLC ADR	COM	046353108	394	6,630	SH		SOLE		355	0	6,275
AT & T INC	COM	00206R102	3,423	97,344	SH		SOLE		81,090	0	16,254
AUTO DATA PROCESSING	COM	053015103	2,868	35,492	SH		SOLE		23,342	0	12,150
BALCHEM CORP	COM	057665200	549	9,360	SH		SOLE		7,742	0	1,618
BANKAMERICA CORP	COM	060505104	3,068	197,014	SH		SOLE		196,234	0	780
BERKSHIRE BANCP INC DEL	COM	084597202	975	134,116	SH		SOLE		134,116	0	0
BLACKROCK INC	COM	09247X101	500	1,579	SH		SOLE		1,579	0	0
BOEING CO	COM	097023105	3,560	26,085	SH		SOLE		25,264	0	821
BOREAL WATER COLLECTION INC CO	COM	09971P100	0	35,700	SH		SOLE		0	0	35,700
BP PLC ADR	COM	055622104	469	9,654	SH		SOLE		5,439	0	4,215
BRISTOL-MYERS SQUIBB CO	COM	110122108	2,892	54,410	SH		SOLE		49,851	0	4,559
C V S CORP DEL	COM	126650100	5,161	72,110	SH		SOLE		65,685	0	6,425
CARDINAL HEALTH INC	COM	14149Y108	2,257	33,775	SH		SOLE		33,575	0	200
CATERPILLAR INC	COM	149123101	996	10,970	SH		SOLE		8,670	0	2,300
CHEVRONTEXACO CORP	COM	166764100	6,631	53,089	SH		SOLE		45,201	0	7,888
CHIMERA ENERGY CORP COM	COM	16934U100	0	16,600	SH		SOLE		0	0	16,600
CHUBB CORPORATION	COM	171232101	3,032	31,374	SH		SOLE		31,156	0	218
CISCO SYSTEMS INC	COM	17275R102	3,391	151,167	SH		SOLE		139,696	0	11,471
CITRIX SYSTEMS INC	COM	177376100	2,453	38,785	SH		SOLE		38,725	0	60
COCA COLA COMPANY	COM	191216100	797	19,287	SH		SOLE		7,807	0	11,480
COLGATE-PALMOLIVE CO	COM	194162103	487	7,464	SH		SOLE		2,200	0	5,264
COMCAST CORP NEW CL A	COM	20030N101	573	11,021	SH		SOLE		10,588	0	433
COMMERCIAL METALS CO	COM	201723103	1,188	58,418	SH		SOLE		58,418	0	0
CONAGRA FOODS INC	COM	205887102	458	13,600	SH		SOLE		3,750	0	9,850
CONOCOPHILLIPS	COM	20825C104	3,987	56,432	SH		SOLE		47,543	0	8,889
CONSOLIDATED EDISON INC	COM	209115104	242	4,386	SH		SOLE		2,424	0	1,962
CORNING INC	COM	219350105	1,403	78,711	SH		SOLE		68,196	0	10,515
COVIDIEN LTD	COM	G2552X108	1,434	21,052	SH		SOLE		21,052	0	0
DARDEN RESTAURANTS INC	COM	237194105	331	6,084	SH		SOLE		1,775	0	4,309
DISCOVERY CORP ENTERPRISES INC	COM	25466Y109	4	34,000	SH		SOLE		34,000	0	0
DISNEY WALT HOLDING CO	COM	254687106	379	4,963	SH		SOLE		3,631	0	1,332
DOW CHEMICAL COMPANY	COM	260543103	1,962	44,194	SH		SOLE		43,444	0	750
DU PONT E I DE NEMOUR&CO	COM	263534109	957	14,733	SH		SOLE		8,195	0	6,538
DUKE ENERGY CORPORATION	COM	26441C204	459	6,646	SH		SOLE		2,536	0	4,110
E M C CORP MASS	COM	268648102	1,239	49,251	SH		SOLE		47,951	0	1,300
ELI LILLY & COMPANY	COM	532457108	342	6,712	SH		SOLE		2,512	0	4,200
EMERSON ELECTRIC CO	COM	291011104	4,855	69,176	SH		SOLE		59,218	0	9,958
EQT CORPORATION	COM	26884L109	426	4,750	SH		SOLE		0	0	4,750
EXPRESS SCRIPTS A	COM	30219G108	2,735	38,934	SH		SOLE		38,259	0	675
EXXON MOBIL CORPORATION	COM	30231G102	9,152	90,430	SH		SOLE		59,286	0	31,144
GENERAL ELECTRIC COMPANY	COM	369604103	7,136	254,578	SH		SOLE		173,651	0	80,927
GOLDMAN SACHS GROUP INC	COM	38141G104	2,460	13,878	SH		SOLE		13,830	0	48
GOOGLE INC CLASS A	COM	38259P508	285	254	SH		SOLE		248	0	6
HALLIBURTON COMPANY	COM	406216101	4,348	85,667	SH		SOLE		84,967	0	700
HOME DEPOT INC	COM	437076102	6,529	79,289	SH		SOLE		73,908	0	5,381
HONEYWELL INTERNATIONAL	COM	438516106	362	3,960	SH		SOLE		1,130	0	2,830
ILLINOIS TOOL WORKS INC	COM	452308109	717	8,525	SH		SOLE		3,425	0	5,100
INTEL CORP	COM	458140100	4,760	183,387	SH		SOLE		167,651	0	15,736
INTERNATIONAL PAPER CO	COM	460146103	329	6,701	SH		SOLE		290	0	6,411
INTL BUSINESS MACHINES	COM	459200101	2,311	12,322	SH		SOLE		12,197	0	125
INTL FLAVOR & FRAGRANCES	COM	459506101	1,027	11,950	SH		SOLE		11,950	0	0
ISHARES TR S&P US PFD STK INDE	COM	464288687	610	16,575	SH		SOLE		15,325	0	1,250
JEFFERSONVILLE BANCORP	COM	47559A103	409	36,342	SH		SOLE		36,342	0	0
JOHNSON & JOHNSON	COM	478160104	8,495	92,749	SH		SOLE		79,761	0	12,988
JP MORGAN CHASE & CO	COM	46625H100	4,563	78,024	SH		SOLE		61,201	0	16,823
KIMBERLY-CLARK CORP	COM	494368103	277	2,650	SH		SOLE		525	0	2,125
KINDER MORGAN ENERGY LP	COM	494550106	403	4,997	SH		SOLE		3,097	0	1,900
KRAFT FOODS GROUP INC COM	COM	50075N104	1,669	30,954	SH		SOLE		22,133	0	8,821
LOWES COMPANIES INC	COM	548661107	427	8,625	SH		SOLE		8,425	0	200
M & T BANK CORP	COM	55261F104	382	3,281	SH		SOLE		2,081	0	1,200
M D U RESOURCES GROUP	COM	552690109	365	11,946	SH		SOLE		11,946	0	0
MCDONALDS CORP	COM	580135101	1,458	15,025	SH		SOLE		10,180	0	4,845
MERCK & CO INC	COM	58933Y105	3,198	63,903	SH		SOLE		50,905	0	12,998
METLIFE INC	COM	59156R108	1,025	19,015	SH		SOLE		18,749	0	266
MICROSOFT CORP	COM	594918104	5,266	140,772	SH		SOLE		124,158	0	16,614
MONDELEZ INTL INC CL A	COM	609207105	1,801	51,012	SH		SOLE		44,087	0	6,925
MONSANTO CO NEW DEL	COM	61166W101	281	2,413	SH		SOLE		2,347	0	66
NABORS INDS INC	COM	G6359F103	225	13,225	SH		SOLE		13,225	0	0
NEW YORK COMNTY BANCORP	COM	649445103	208	12,356	SH		SOLE		12,356	0	0
NEXTERA ENERGY INC.	COM	302571104	543	6,337	SH		SOLE		4,323	0	2,014
NIKE INC CLASS B	COM	654106103	232	2,947	SH		SOLE		2,900	0	47
NORFOLK SOUTHERN CORP	COM	655844108	613	6,602	SH		SOLE		5,702	0	900
NORTHROP GRUMMAN CORP	COM	666807102	864	7,540	SH		SOLE		7,540	0	0
NOVARTIS A G SPON ADR	COM	66987V109	551	6,850	SH		SOLE		1,025	0	5,825
OCCIDENTAL PETE CORP	COM	674599105	262	2,757	SH		SOLE		2,631	0	126
ORACLE CORPORATION	COM	68389X105	5,368	140,302	SH		SOLE		137,502	0	2,800
ORANGE CNTY BANCORP INC	COM	68417L107	4,363	111,734	SH		SOLE		37,572	0	74,162
PENTAIR INC	COM	H6169Q108	323	4,161	SH		SOLE		4,161	0	0
PEPSICO INCORPORATED	COM	713448108	4,638	55,920	SH		SOLE		43,013	0	12,907
PFIZER INCORPORATED	COM	717081103	4,659	152,113	SH		SOLE		129,564	0	22,549
PHILIP MORRIS INTL INC	COM	718172109	208	2,386	SH		SOLE		2,348	0	38
PHILLIPS 66	COM	718546104	1,902	24,665	SH		SOLE		21,724	0	2,941
PNC FINANCIAL SERVICES	COM	693475105	1,176	15,154	SH		SOLE		10,729	0	4,425
PPL CORPORATION	COM	69351T106	532	17,685	SH		SOLE		15,680	0	2,005
PRECISION CASTPARTS CORP	COM	740189105	2,067	7,675	SH		SOLE		7,675	0	0
PROCTER & GAMBLE CO	COM	742718109	4,988	61,268	SH		SOLE		46,263	0	15,005
QUALCOMM INC	COM	747525103	1,124	15,141	SH		SOLE		12,687	0	2,454
RAYTHEON COMPANY NEW	COM	755111507	506	5,580	SH		SOLE		1,755	0	3,825
REPUBLIC SERVICES INC	COM	760759100	395	11,900	SH		SOLE		11,900	0	0
ROYAL DUTCH SHELL SPON ADR	COM	780259206	2,062	28,935	SH		SOLE		23,675	0	5,260
RSTK INTERLINK US NETWORKS	COM	45875T905	0	45,000	SH		SOLE		45,000	0	0
SANOFI AVENTIS ADR	COM	80105N105	363	6,775	SH		SOLE		1,025	0	5,750
SCHLUMBERGER LTD F	COM	806857108	294	3,260	SH		SOLE		2,872	0	388
SPECTRA ENERGY CORP	COM	847560109	473	13,275	SH		SOLE		11,458	0	1,817
STERLING BANCORP DEL COM	COM	85917A100	9,524	712,345	SH		SOLE		691,706	0	20,639
SYSCO CORPORATION	COM	871829107	2,108	58,389	SH		SOLE		57,833	0	556
TEVA PHARM INDS LTD ADRF	COM	881624209	296	7,386	SH		SOLE		5,486	0	1,900
THE BANK OF NY MELLON CORP	COM	064058100	2,263	64,760	SH		SOLE		64,760	0	0
THE CHARLES SCHWAB CORP	COM	808513105	292	11,217	SH		SOLE		10,831	0	386
THE SOUTHERN COMPANY	COM	842587107	323	7,858	SH		SOLE		7,858	0	0
THERMO ELECTRON CORP	COM	883556102	5,296	47,566	SH		SOLE		47,566	0	0
TIME WARNER INC	COM	00184A105	1,993	28,587	SH		SOLE		28,587	0	0
TORONTO DOMINION BK	COM	891160509	654	6,940	SH		SOLE		2,165	0	4,775
TOTAL FINA ELF S A ADR	COM	89151E109	685	11,180	SH		SOLE		1,680	0	9,500
TRANSOCEAN SEDCO FOREX	COM	H8817H100	207	4,185	SH		SOLE		3,360	0	825
TWO HBRS INVT CORP COM	COM	90187B101	111	12,000	SH		SOLE		12,000	0	0
TYCO INTL LTD NEW	COM	902124106	786	19,160	SH		SOLE		19,160	0	0
UNITED TECHNOLOGIES CORP	COM	913017109	683	6,000	SH		SOLE		3,310	0	2,690
US BANCORP DEL NEW	COM	902973304	317	7,840	SH		SOLE		925	0	6,915
VENTANA BIOTECH INC	COM	92277F109	0	10,000	SH		SOLE		10,000	0	0
VERIZON COMMUNICATIONS	COM	92343V104	4,596	93,521	SH		SOLE		81,327	0	12,194
VODAFONE AIRTOUCH ADR	COM	92857W209	225	5,734	SH		SOLE		2,694	0	3,040
WAL-MART STORES INC	COM	931142103	4,394	55,834	SH		SOLE		49,804	0	6,030
WELLS FARGO & CO NEW	COM	949746101	2,923	64,379	SH		SOLE		47,460	0	16,919
WENDYS INTL INC COM	COM	95058W100	88	10,100	SH		SOLE		5,500	0	4,600
WESTMONT RESOURCES INC COM PAR	COM	96081P302	0	445,350	SH		SOLE		297,600	0	147,750