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	1,066	6,151	SH		SOLE		3,651	0	2,500
ABBOTT LABORATORIES	COM	002824100	1,804	21,451	SH		SOLE		3,799	0	17,652
ABBVIE INC COM	COM	002874109	1,039	14,283	SH		SOLE		3,628	0	10,655
ADOBE SYSTEMS INC	COM	00724F101	8,946	30,360	SH		SOLE		21,327	0	9,033
AIMGLOBAL TECHNOLOGIES INC	COM	00900N100	0	20,000	SH		SOLE		0	0	20,000
ALPS ALERIAN MLP ETF	COM	00162Q866	203	20,575	SH		SOLE		20,575	0	0
ALLERGAN PLC	COM	G0177J108	528	3,151	SH		SOLE		2,851	0	300
ALPHABET INC CLASS A	COM	02079K305	299	276	SH		SOLE		274	0	2
ALPHABET INC CLASS C	COM	02079K107	6,129	5,670	SH		SOLE		4,045	0	1,625
ALTRIA GROUP INC	COM	02209S103	290	6,133	SH		SOLE		5,533	0	600
AMAZON COM INC	COM	023135106	5,058	2,671	SH		SOLE		1,722	0	949
AMERN TOWER CORP CLASS A	COM	03027X100	3,743	18,310	SH		SOLE		18,310	0	0
AMGEN INC COM	COM	031162100	893	4,845	SH		SOLE		2,855	0	1,990
ANNALY MTG MANAGEMENT	COM	035710409	166	18,200	SH		SOLE		18,200	0	0
APOLLO INVT CORP COM	COM	03761U502	174	11,000	SH		SOLE		11,000	0	0
APPLE, INC.	COM	037833100	8,476	42,825	SH		SOLE		30,585	0	12,240
ASHFORD HOSPITALITY TR INC	COM	044103109	36	12,000	SH		SOLE		12,000	0	0
AT & T INC	COM	00206R102	2,082	62,117	SH		SOLE		46,588	0	15,529
ATHERSYS INC	COM	04744L106	38	22,500	SH		SOLE		2,500	0	20,000
ATRION CORP COM	COM	049904105	767	900	SH		SOLE		0	0	900
AUTO DATA PROCESSING	COM	053015103	4,463	26,992	SH		SOLE		16,412	0	10,580
AUTOZONE INC	COM	053332102	1,139	1,036	SH		SOLE		897	0	139
BALCHEM CORP	COM	057665200	385	3,855	SH		SOLE		3,012	0	843
BALL CORP	COM	058498106	245	3,500	SH		SOLE		0	0	3,500
BANKAMERICA CORP	COM	060505104	5,092	175,586	SH		SOLE		138,131	0	37,455
THE BANK OF NY MELLON CORP	COM	064058100	1,877	42,518	SH		SOLE		38,083	0	4,435
BB&T CORP	COM	054937107	1,590	32,373	SH		SOLE		29,223	0	3,150
BERKSHIRE BANCORP INC DEL COM	COM	084597202	161	12,298	SH		SOLE		12,298	0	0
BLACKROCK CAPITAL INVESTMENT C	COM	092533108	130	21,500	SH		SOLE		21,500	0	0
BLACKROCK MUNIENHANCED FD INC	COM	09253Y100	127	11,400	SH		SOLE		11,400	0	0
BLACKSTONE MTG TR INC	COM	09257W100	247	6,950	SH		SOLE		6,950	0	0
BOEING CO	COM	097023105	7,590	20,850	SH		SOLE		15,615	0	5,235
BOREAL WATER COLLECTION INC CO	COM	09971P100	0	35,700	SH		SOLE		0	0	35,700
BP PLC ADR	COM	055622104	388	9,301	SH		SOLE		6,451	0	2,850
BRISTOL-MYERS SQUIBB CO	COM	110122108	983	21,680	SH		SOLE		19,533	0	2,147
BROADCOM LTD	COM	Y09827109	4,911	17,060	SH		SOLE		11,487	0	5,573
CABOT OIL & GAS CORP	COM	127097103	1,010	43,970	SH		SOLE		38,370	0	5,600
CARDINAL HEALTH INC	COM	14149Y108	377	8,000	SH		SOLE		8,000	0	0
CARMAX INC	COM	143130102	906	10,431	SH		SOLE		7,095	0	3,336
CATERPILLAR INC	COM	149123101	602	4,419	SH		SOLE		2,419	0	2,000
CELGENE CORP	COM	151020104	677	7,326	SH		SOLE		5,486	0	1,840
THE CHARLES SCHWAB CORP	COM	808513105	201	4,991	SH		SOLE		4,991	0	0
CHEVRONTEXACO CORP	COM	166764100	4,205	33,788	SH		SOLE		24,946	0	8,842
CHUBB CORPORATION	COM	171232101	1,484	10,078	SH		SOLE		9,344	0	734
CIGNA CORP	COM	125523100	418	2,654	SH		SOLE		2,186	0	468
CISCO SYSTEMS INC	COM	17275R102	6,056	110,657	SH		SOLE		92,282	0	18,375
CITRIX SYSTEMS INC	COM	177376100	1,030	10,495	SH		SOLE		10,495	0	0
COCA COLA COMPANY	COM	191216100	399	7,845	SH		SOLE		3,845	0	4,000
COMCAST CORP NEW CL A	COM	20030N101	4,944	116,940	SH		SOLE		81,490	0	35,450
COMMERCIAL METALS CO	COM	201723103	287	16,055	SH		SOLE		16,055	0	0
CONOCOPHILLIPS	COM	20825C104	3,983	65,292	SH		SOLE		50,232	0	15,060
CONSOLIDATED EDISON INC	COM	209115104	206	2,353	SH		SOLE		1,062	0	1,291
CORNING INC	COM	219350105	1,711	51,487	SH		SOLE		36,987	0	14,500
CORTEVA INC	COM	22052L104	204	6,887	SH		SOLE		5,430	0	1,457
COSTCO WHSL CORP NEW	COM	22160K105	683	2,583	SH		SOLE		2,298	0	285
CSW INDUSTRIALS INC	COM	126402106	226	3,312	SH		SOLE		3,312	0	0
C S X CORP	COM	126408103	3,946	50,997	SH		SOLE		41,282	0	9,715
C V S CORP DEL	COM	126650100	1,273	23,371	SH		SOLE		22,291	0	1,080
DANAHER CORP	COM	235851102	4,135	28,932	SH		SOLE		22,888	0	6,044
DARDEN RESTAURANTS INC	COM	237194105	316	2,595	SH		SOLE		1,520	0	1,075
DOLLAR GENERAL CORPORATION	COM	256677105	2,434	18,011	SH		SOLE		14,532	0	3,479
DOW INC COM	COM	260557103	289	5,867	SH		SOLE		4,819	0	1,048
DUKE ENERGY CORPORATION	COM	26441C204	3,876	43,924	SH		SOLE		32,856	0	11,068
DUPONT DE NEMOURS INC	COM	26614N102	560	7,462	SH		SOLE		5,972	0	1,490
EAGLE POINT CREDIT CO	COM	269808101	188	10,500	SH		SOLE		10,500	0	0
ELI LILLY & COMPANY	COM	532457108	7,242	65,371	SH		SOLE		17,481	0	47,890
EMERSON ELECTRIC CO	COM	291011104	1,571	23,539	SH		SOLE		21,589	0	1,950
ENBRIDGE INC	COM	29250N105	1,894	52,508	SH		SOLE		40,122	0	12,386
ENTERPRISE PRD PRTNRS LP	COM	293792107	226	7,833	SH		SOLE		7,833	0	0
EXXON MOBIL CORPORATION	COM	30231G102	4,967	64,820	SH		SOLE		41,221	0	23,599
FACEBOOK INC CL A	COM	30303M102	6,776	35,111	SH		SOLE		26,781	0	8,330
FEDEX CORPORATION	COM	31428X106	1,825	11,115	SH		SOLE		8,613	0	2,502
GENERAL ELECTRIC COMPANY	COM	370000000	417	39,677	SH		SOLE		6,381	0	33,296
GLAXOSMITHKLINE PLC ADR	COM	37733W105	219	5,483	SH		SOLE		1,983	0	3,500
GOLDMAN SACHS GROUP INC	COM	38141G104	1,054	5,153	SH		SOLE		4,983	0	170
HALLIBURTON COMPANY	COM	406216101	511	22,453	SH		SOLE		22,453	0	0
HARRIS CORP DEL	COM	413875105	887	4,691	SH		SOLE		2,931	0	1,760
HOME DEPOT INC	COM	437076102	13,036	62,684	SH		SOLE		50,914	0	11,770
HONEYWELL INTERNATIONAL	COM	438516106	3,325	19,045	SH		SOLE		12,784	0	6,261
ILLINOIS TOOL WORKS INC	COM	452308109	507	3,360	SH		SOLE		1,175	0	2,185
ILLUMINA INC	COM	452327109	4,932	13,396	SH		SOLE		8,383	0	5,013
INTEL CORP	COM	458140100	5,125	107,063	SH		SOLE		89,158	0	17,905
INTL BUSINESS MACHINES	COM	459200101	1,610	11,674	SH		SOLE		7,667	0	4,007
INTL FLAVOR & FRAGRANCES	COM	459506101	517	3,565	SH		SOLE		3,565	0	0
INTUITIVE SURGICAL INC NEW	COM	46120E602	23,980	45,715	SH		SOLE		0	0	45,715
INVESCO QQQ TR UNIT SER 1	COM	46090E103	933	4,995	SH		SOLE		325	0	4,670
ISHARES TR CORE S&P SMALL-CAP ETF	COM	464287804	884	11,290	SH		SOLE		1,045	0	10,245
ISHARES TR MSCI EAFE ETF	COM	464287465	1,032	15,695	SH		SOLE		8,665	0	7,030
ISHARES TR MSCI EMERGING MKTS INDEX FD	COM	464287234	300	6,982	SH		SOLE		4,964	0	2,018
ISHARES TR N Y MUNI BD ETF FD	COM	464288323	775	13,650	SH		SOLE		13,650	0	0
ISHARES TR EXPANDED TECH SECTOR ETF	COM	464287549	216	1,000	SH		SOLE		0	0	1,000
ISHARES TR S&P US PFD STK INDE	COM	464288687	4,388	119,077	SH		SOLE		100,927	0	18,150
ISHARES TR DOW JONES U S ETF	COM	464287721	368	1,860	SH		SOLE		0	0	1,860
JEFFERSONVILLE BANCORP	COM	47559A103	512	30,006	SH		SOLE		30,006	0	0
JOHNSON & JOHNSON	COM	478160104	5,560	39,919	SH		SOLE		32,635	0	7,284
JP MORGAN CHASE & CO	COM	46625H100	9,796	87,620	SH		SOLE		64,495	0	23,125
KIMBERLY-CLARK CORP	COM	494368103	339	2,540	SH		SOLE		325	0	2,215
KRAFT HEINZ CO	COM	500754106	428	13,791	SH		SOLE		12,916	0	875
LENNAR CORP	COM	526057104	525	10,832	SH		SOLE		8,846	0	1,986
LIFE STORAGE INC	COM	53223X107	203	2,135	SH		SOLE		400	0	1,735
LINCOLN ELEC HLDGS INC	COM	533900106	1,369	16,630	SH		SOLE		13,912	0	2,718
LOCKHEED MARTIN CORP	COM	539830109	1,483	4,079	SH		SOLE		2,729	0	1,350
LOWES COMPANIES INC	COM	548661107	367	3,638	SH		SOLE		2,813	0	825
LYONDELLBASELL INDUSTRIES NV	COM	N53745100	215	2,491	SH		SOLE		1,736	0	755
M & T BANK CORP	COM	55261F104	913	5,366	SH		SOLE		4,791	0	575
MARSH & MCLENNAN CO INC	COM	571748102	4,395	44,065	SH		SOLE		34,063	0	10,002
MASCO CORP	COM	574599106	227	5,775	SH		SOLE		4,865	0	910
MAXIM INTEGRATED PRODS	COM	57772K101	240	4,010	SH		SOLE		675	0	3,335
MCDONALDS CORP	COM	580135101	1,163	5,601	SH		SOLE		2,865	0	2,736
MEDTRONIC PLC	COM	G5960L103	14,461	148,486	SH		SOLE		19,519	0	128,967
MERCK & CO INC	COM	58933Y105	3,578	42,677	SH		SOLE		33,792	0	8,885
METLIFE INC	COM	59156R108	454	9,147	SH		SOLE		8,497	0	650
MICROSOFT CORP	COM	594918104	17,762	132,590	SH		SOLE		105,589	0	27,001
MONDELEZ INTL INC CL A	COM	609207105	1,567	29,064	SH		SOLE		23,902	0	5,162
MORGAN STANLEY	COM	617446448	1,709	39,011	SH		SOLE		27,056	0	11,955
NEW RESIDENTIAL INVT	COM	64828T201	174	11,300	SH		SOLE		11,300	0	0
NEXTERA ENERGY INC.	COM	302571104	886	4,322	SH		SOLE		2,622	0	1,700
NIKE INC CLASS B	COM	654106103	4,316	51,414	SH		SOLE		36,624	0	14,790
NORFOLK SOUTHERN CORP	COM	655844108	723	3,625	SH		SOLE		2,400	0	1,225
NORTHROP GRUMMAN CORP	COM	666807102	1,120	3,467	SH		SOLE		3,437	0	30
NUVEEN MUNICIPAL CREDIT INCOME FD	COM	67071L106	167	10,500	SH		SOLE		10,500	0	0
NUVEEN AMT FREE MUN INCOME FD	COM	670657105	304	22,000	SH		SOLE		22,000	0	0
NUVEEN MUN HIGH INCOME OPP FD	COM	670682103	161	11,500	SH		SOLE		11,500	0	0
NUVEEN MUNICIPAL CR INCOME FD	COM	67070X101	165	10,500	SH		SOLE		10,500	0	0
NUVEEN MUNICIPAL VALUE FUND INC	COM	670928100	903	88,659	SH		SOLE		88,659	0	0
ORACLE CORPORATION	COM	68389X105	2,837	49,792	SH		SOLE		47,067	0	2,725
ORANGE CNTY BANCORP INC	COM	68417L107	22,112	834,097	SH		SOLE		0	0	834,097
OSHKOSH CORP	COM	688239201	1,042	12,476	SH		SOLE		8,558	0	3,918
PEPSICO INCORPORATED	COM	713448108	7,956	60,671	SH		SOLE		45,210	0	15,461
PERKINELMER INC	COM	714046109	1,832	19,015	SH		SOLE		13,897	0	5,118
PFIZER INCORPORATED	COM	717081103	6,839	157,878	SH		SOLE		124,369	0	33,509
PHILLIPS 66	COM	718546104	1,228	13,126	SH		SOLE		10,926	0	2,200
PNC FINANCIAL SERVICES	COM	693475105	2,353	17,141	SH		SOLE		9,827	0	7,314
PPL CORPORATION	COM	69351T106	518	16,720	SH		SOLE		15,390	0	1,330
PRICE T ROWE GROUP INC	COM	74144T108	343	3,125	SH		SOLE		3,075	0	50
PROCTER & GAMBLE CO	COM	742718109	3,322	30,300	SH		SOLE		22,365	0	7,935
PROLOGICS INC.	COM	74340W103	1,073	13,390	SH		SOLE		10,621	0	2,769
QUALCOMM INC	COM	747525103	333	4,375	SH		SOLE		4,275	0	100
RAYTHEON COMPANY NEW	COM	755111507	2,032	11,686	SH		SOLE		5,969	0	5,717
RED HAT INC	COM	756577102	1,765	9,398	SH		SOLE		5,638	0	3,760
RESMED INC	COM	761152107	2,997	24,560	SH		SOLE		0	0	24,560
REXAHN PHARMACEUTICALS INC	COM	761640200	0	0	SH		SOLE		0	0	0
ROYAL CARIBBEAN CRUISES LTD	COM	761152107	2,509	20,697	SH		SOLE		14,333	0	6,364
ROYAL DUTCH SHELL SPON ADR	COM	780259206	511	7,855	SH		SOLE		7,705	0	150
RSTK CHEFS WHSE INC	COM	163086101	603	17,180	SH		SOLE		17,180	0	0
SALESFORCE COM	COM	79466L302	4,214	27,771	SH		SOLE		18,295	0	9,476
SHERWIN WILLIAMS CO	COM	824348106	3,386	7,388	SH		SOLE		5,525	0	1,863
SIMON PPTY GROUP	COM	828806109	637	3,987	SH		SOLE		3,139	0	848
THE SOUTHERN COMPANY	COM	842587107	209	3,789	SH		SOLE		2,809	0	980
SPDR S&P 500 ETF TR	COM	78462F103	5,799	19,792	SH		SOLE		3,320	0	16,472
SPDR S&P MIDCAP 400 ETF TR	COM	78467Y107	2,778	7,835	SH		SOLE		1,285	0	6,550
STARBUCKS CORP	COM	855244109	2,912	34,741	SH		SOLE		26,201	0	8,540
STERLING BANCORP DEL COM	COM	85917A100	7,492	352,076	SH		SOLE		352,076	0	0
SUNOCO LP COM	COM	86765K109	344	11,000	SH		SOLE		11,000	0	0
SUNTRUST BANKS INC	COM	867914103	2,879	45,809	SH		SOLE		33,044	0	12,765
SYSCO CORPORATION	COM	871829107	1,876	26,525	SH		SOLE		22,535	0	3,990
AES CORP	COM	00130H105	1,678	100,108	SH		SOLE		85,383	0	14,725
ESTEE LAUDER COMPANIES INC CL A	COM	518439104	3,996	21,822	SH		SOLE		15,130	0	6,692
THERMO FISHER SCIENTIFIC INC.	COM	883556102	11,022	37,531	SH		SOLE		29,779	0	7,752
TORONTO DOMINION BK	COM	891160509	1,091	18,689	SH		SOLE		12,574	0	6,115
TWO HBRS INVT CORP COM	COM	90187B101	163	12,850	SH		SOLE		12,850	0	0
UNITED TECHNOLOGIES CORP	COM	913017109	767	5,894	SH		SOLE		3,064	0	2,830
UNITED HEALTHCARE CORP	COM	91324P102	5,627	23,060	SH		SOLE		16,281	0	6,779
US BANCORP DEL NEW	COM	902973304	550	10,500	SH		SOLE		950	0	9,550
VALERO ENERGY CORP	COM	91913Y100	648	7,575	SH		SOLE		7,575	0	0
VANGUARD CONSUMER DISCRETIONARY ETF	COM	92204A108	507	2,827	SH		SOLE		29	0	2,798
VANGUARD TAX-MANAGED INTL FD FTSE DEVELOPED MKTS ETF	COM	921943858	355	8,500	SH		SOLE		2,470	0	6,030
VERIZON COMMUNICATIONS	COM	92343V104	7,021	122,897	SH		SOLE		96,941	0	25,956
VISA INC	COM	92826C839	4,947	28,507	SH		SOLE		17,845	0	10,662
WAL-MART STORES INC	COM	931142103	3,286	29,743	SH		SOLE		21,100	0	8,643
DISNEY WALT CO	COM	254687106	6,277	44,955	SH		SOLE		32,216	0	12,739
WELLS FARGO & CO NEW	COM	949746101	390	8,235	SH		SOLE		4,745	0	3,490
WESTMONT RESOURCES INC	COM	96081P302	0	30,000	SH		SOLE		0	0	30,000
WILLIAMS COMPANIES	COM	969457100	853	30,425	SH		SOLE		27,890	0	2,535
WOLDS INC	COM	98159J101	34	120,000	SH		SOLE		120,000	0	0
XILINX INC	COM	983919101	4,256	36,096	SH		SOLE		22,669	0	13,427