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	88579Y101	471	4,266	SH		SOLE		2,329	0	1,937
ABBOTT LABORATORIES	COM	002824100	1,181	12,202	SH		SOLE		3,008	0	9,194
ABBVIE INC COM	COM	00287Y109	5,569	41,495	SH		SOLE		35,221	0	6,274
ADOBE SYSTEMS INC	COM	00724F101	6,120	22,239	SH		SOLE		15,746	0	6,493
ADSOUTH PARTNERS INC (NV)	COM	00737M200	0	10,001	SH		SOLE		0	0	10,001
ADVANCED MICRO DIVICES INC	COM	007903107	4,321	68,191	SH		SOLE		55,057	0	13,134
AGNC INVESTMENT CORP	COM	00123Q104	101	12,000	SH		SOLE		12,000	0	0
ALBEMARLE CORP	COM	012653101	598	2,260	SH		SOLE		2,260	0	0
ALLIANT ENERGY CORP	COM	018802108	404	7,631	SH		SOLE		7,631	0	0
ALPHABET INC CLASS A	COM	02079K305	691	7,220	SH		SOLE		6,440	0	780
ALPHABET INC CLASS C	COM	02079K107	11,529	119,911	SH		SOLE		93,792	0	26,119
AMAZON COM INC	COM	023135106	8,077	71,482	SH		SOLE		53,992	0	17,490
AMERICAN ELECTICAL POWER COMPANY INC	COM	025537101	437	5,050	SH		SOLE		5,050	0	0
AMERICAN EXPRESS CORP	COM	025816109	2,692	19,957	SH		SOLE		16,965	0	2,992
AMERN TOWER CORP CLASS A	COM	03027X100	4,329	20,162	SH		SOLE		14,729	0	5,433
AMGEN INC COM	COM	031162100	499	2,214	SH		SOLE		1,514	0	700
APPLE, INC.	COM	037833100	19,980	144,570	SH		SOLE		107,260	0	37,310
Arbor Realty Trust Inc	COM	038923108	230	20,000	SH		SOLE		20,000	0	0
AT & T INC	COM	00206R102	858	55,924	SH		SOLE		43,965	0	11,959
AUTO DATA PROCESSING	COM	053015103	3,192	14,113	SH		SOLE		8,173	0	5,940
AUTOZONE INC	COM	053332102	2,967	1,385	SH		SOLE		1,207	0	178
BALCHEM CORP	COM	057665200	423	3,483	SH		SOLE		2,840	0	643
BANKAMERICA CORP	COM	060505104	6,526	216,105	SH		SOLE		181,029	0	35,076
THE BANK OF NY MELLON CORP	COM	064058100	747	19,382	SH		SOLE		17,647	0	1,735
BERKSHIRE BANCORP INC DEL COM	COM	084597202	116	10,816	SH		SOLE		10,816	0	0
BLACKSTONE GROUP LP	COM	09260D107	1,156	13,814	SH		SOLE		11,641	0	2,173
BOEING CO	COM	097023105	906	7,480	SH		SOLE		5,577	0	1,903
BP PLC ADR	COM	055622104	287	10,057	SH		SOLE		9,807	0	250
BRISTOL-MYERS SQUIBB CO	COM	110122108	1,463	20,586	SH		SOLE		18,389	0	2,197
BROADCOM LTD	COM	11135F101	4,022	9,059	SH		SOLE		5,167	0	3,892
CARDINAL HEALTH INC	COM	14149Y108	403	6,051	SH		SOLE		6,051	0	0
CARMAX INC	COM	143130102	365	5,525	SH		SOLE		3,761	0	1,764
CATERPILLAR INC	COM	149123101	604	3,681	SH		SOLE		2,456	0	1,225
CHARLES SCHWAB CORP	COM	808513105	242	3,372	SH		SOLE		3,372	0	0
CHART INDUSTRIES INC	COM	16115Q308	1,548	8,398	SH		SOLE		7,882	0	516
CHEVRON CORP	COM	166764100	4,310	30,000	SH		SOLE		24,014	0	5,986
CHIPOTLE MEXICAN GRILL INC. COM	COM	169656105	2,344	1,560	SH		SOLE		1,367	0	193
CHUBB LIMITED	COM	H1467J104	673	3,701	SH		SOLE		3,452	0	249
CIENA CORP	COM	171779309	2,740	67,763	SH		SOLE		60,818	0	6,945
CIGNA CORP	COM	125523100	494	1,782	SH		SOLE		1,412	0	370
CISCO SYSTEMS INC	COM	17275R102	4,132	103,309	SH		SOLE		91,830	0	11,479
CITRIX SYSTEMS INC	COM	177376100	574	5,550	SH		SOLE		5,550	0	0
CMS ENERGY CORP	COM	125896100	418	7,184	SH		SOLE		6,929	0	255
COCA COLA COMPANY	COM	191216100	402	7,178	SH		SOLE		3,378	0	3,800
COMCAST CORP NEW CL A	COM	20030N101	1,313	44,769	SH		SOLE		30,595	0	14,174
COMMERCIAL METALS CO	COM	201723103	547	15,410	SH		SOLE		15,410	0	0
SPDR SECTOR COMMUNICATION SERVICES ETF	COM	81369Y852	3,457	72,177	SH		SOLE		755	0	71,422
CONOCOPHILLIPS	COM	20825C104	2,757	26,940	SH		SOLE		17,590	0	9,350
CONSOLIDATED EDISON INC	COM	209115104	216	2,521	SH		SOLE		2,521	0	0
SPDR SECTOR CONSUMER DISCRETIONARY ETF	COM	81369Y407	4,422	31,044	SH		SOLE		775	0	30,269
SPDR SECTOR CONSUMER STAPLES ETF	COM	81369Y308	2,865	42,937	SH		SOLE		953	0	41,984
CORNING INC	COM	219350105	623	21,459	SH		SOLE		17,084	0	4,375
COSTCO WHSL CORP NEW	COM	22160K105	1,996	4,226	SH		SOLE		3,261	0	965
COTERRA ENERGY INC	COM	127097103	2,043	78,235	SH		SOLE		64,373	0	13,862
CSW INDUSTRIALS INC	COM	126402106	385	3,212	SH		SOLE		3,212	0	0
C S X CORP	COM	126408103	5,762	216,274	SH		SOLE		182,587	0	33,687
CVS HEALTH CORP	COM	126650100	1,804	18,912	SH		SOLE		16,846	0	2,066
D T E ENERGY COMPANY	COM	233331107	419	3,641	SH		SOLE		3,641	0	0
DANAHER CORP	COM	235851102	8,147	31,543	SH		SOLE		25,616	0	5,927
DEVON ENERGY CORP	COM	25179M103	2,236	37,193	SH		SOLE		33,452	0	3,741
DIGITAL REALTY TRUST, INC.	COM	253868103	231	2,334	SH		SOLE		2,334	0	0
DOLLAR GENERAL CORPORATION	COM	256677105	5,754	23,990	SH		SOLE		18,148	0	5,842
DOW INC	COM	260557103	203	4,623	SH		SOLE		4,582	0	41
DUKE ENERGY CORPORATION	COM	26441C204	5,046	54,251	SH		SOLE		40,339	0	13,912
DUPONT DE NEMOURS INC	COM	26614N102	437	8,675	SH		SOLE		8,634	0	41
EAGLE POINT CREDIT CO LLC	COM	269808101	116	10,500	SH		SOLE		10,500	0	0
ELI LILLY & COMPANY	COM	532457108	17,838	55,165	SH		SOLE		16,418	0	38,747
EMERSON ELECTRIC CO	COM	291011104	1,260	17,211	SH		SOLE		15,843	0	1,368
ENBRIDGE INC	COM	29250N105	2,338	62,725	SH		SOLE		54,001	0	8,724
SPDR SECTOR ENERGY ETF	COM	81369Y506	2,841	39,446	SH		SOLE		257	0	39,189
EXXON MOBIL CORPORATION	COM	30231G102	7,460	85,448	SH		SOLE		64,485	0	20,963
SPDR SECTOR FINANCIAL ETF	COM	81369Y605	5,133	169,064	SH		SOLE		1,856	0	167,208
FLOWERS FOODS INC	COM	343498101	858	34,764	SH		SOLE		34,764	0	0
FLUOR CORPORATION	COM	343412102	1,746	70,132	SH		SOLE		65,722	0	4,410
FORD MOTOR COMPANY	COM	345370860	130	11,567	SH		SOLE		6,350	0	5,217
G6 MATERIALS CORPORATION	COM	361333107	1	16,900	SH		SOLE		16,900	0	0
GENERAL ELECTRIC COMPANY	COM	369604301	268	4,326	SH		SOLE		1,086	0	3,240
GENUINE PARTS CO	COM	372460105	244	1,635	SH		SOLE		1,635	0	0
GOLDMAN SACHS GROUP INC	COM	38141G104	835	2,851	SH		SOLE		2,801	0	50
HALLIBURTON CO	COM	406216101	208	8,430	SH		SOLE		6,430	0	2,000
SPDR SECTOR HEALTH CARE ETF	COM	81369Y209	6,900	56,971	SH		SOLE		1,304	0	55,667
HONEYWELL INTERNATIONAL	COM	438516106	3,198	19,156	SH		SOLE		13,865	0	5,291
HUBBELL INC	COM	443510607	201	900	SH		SOLE		900	0	0
ILLINOIS TOOL WORKS INC	COM	452308109	487	2,697	SH		SOLE		1,117	0	1,580
ILLUMINA INC	COM	452327109	2,696	14,132	SH		SOLE		10,733	0	3,399
SPDR SECTOR INDUSTRIAL ETF	COM	81369Y704	3,812	46,014	SH		SOLE		418	0	45,596
INTEL CORP	COM	458140100	1,226	47,557	SH		SOLE		40,666	0	6,891
INTL BUSINESS MACHINES	COM	459200101	1,935	16,284	SH		SOLE		12,147	0	4,137
INTL FLAVOR & FRAGRANCES	COM	459506101	375	4,126	SH		SOLE		4,126	0	0
INTUITIVE SURGICAL INC NEW	COM	46120E602	14,089	75,163	SH		SOLE		333	0	74,830
INVESCO EX TR FD TR II CEF INCOME COM	COM	46138E404	180	10,304	SH		SOLE		10,304	0	0
INVESCO QQQ TR UNIT SER 1	COM	46090E103	1,124	4,207	SH		SOLE		361	0	3,846
IRON MOUNTAIN INC	COM	46284V101	281	6,400	SH		SOLE		6,400	0	0
ISHARES 1-3 YEAR TREASURY BOND	COM	464287457	25,177	310,023	SH		SOLE		338	0	309,685
ISHARES 1-5 YEAR INVESTMENT GRAND CORP BOND	COM	464288646	20,765	421,375	SH		SOLE		1,440	0	419,935
ISHARES 3-7 YEAR TREASURY BOND	COM	464288661	16,752	146,587	SH		SOLE		0	0	146,587
ISHARES TR CORE S&P SMALL-CAP ETF	COM	464287804	624	7,159	SH		SOLE		478	0	6,681
ISHARES FLOATING RATE BOND	COM	46429B655	6,681	132,903	SH		SOLE		289	0	132,614
ISHARES TR MSCI EAFE ETF	COM	464287465	452	8,065	SH		SOLE		4,085	0	3,980
ISHARES NEW YORK MUNI BOND	COM	464288323	858	16,950	SH		SOLE		16,950	0	0
ISHARES NORTH AMERICAN TECH	COM	464287549	250	905	SH		SOLE		95	0	810
ISHARES TR S&P US PFD STK INDE	COM	464288687	15,505	489,571	SH		SOLE		398,766	0	90,805
ISHARES TR JPMORGAN EMERING MKTS BD FD	COM	464288281	299	3,762	SH		SOLE		26	0	3,736
ISHARES TR S&P 500 GROWTH	COM	464287309	278	775	SH		SOLE		0	0	775
ISHARES US TECHNOLOGY ETF	COM	464287721	346	4,715	SH		SOLE		0	0	4,715
JEFFERSONVILLE BANCORP	COM	47559A103	622	31,094	SH		SOLE		31,094	0	0
JM SMUCKER CO	COM	832696405	1,098	7,992	SH		SOLE		7,992	0	0
JOHNSON & JOHNSON	COM	478160104	4,453	27,260	SH		SOLE		23,338	0	3,922
JP MORGAN CHASE & CO	COM	46625H100	8,715	83,399	SH		SOLE		63,875	0	19,524
K L A TENCOR CORP	COM	482480100	2,590	8,559	SH		SOLE		7,742	0	817
L3HARRIS TECHNOLOGIES INC	COM	502431109	445	2,140	SH		SOLE		1,885	0	255
LENNAR CORP	COM	526057104	1,092	14,650	SH		SOLE		12,866	0	1,784
LIFE STORAGE INC	COM	53223X107	355	3,202	SH		SOLE		600	0	2,602
LINCOLN ELEC HLDGS INC	COM	533900106	2,173	17,285	SH		SOLE		14,704	0	2,581
LOCKHEED MARTIN CORP	COM	539830109	1,051	2,722	SH		SOLE		1,395	0	1,327
LOWES COMPANIES INC	COM	548661107	379	2,018	SH		SOLE		1,658	0	360
LUMEN TECHNOLOGIES	COM	550241103	109	15,006	SH		SOLE		15,006	0	0
M & T BANK CORP	COM	55261F104	671	3,805	SH		SOLE		3,505	0	300
MAGNA INTERNATIONAL INC	COM	559222401	422	8,906	SH		SOLE		8,416	0	490
MARSH & MCLENNAN CO INC	COM	571748102	6,184	41,421	SH		SOLE		32,600	0	8,821
MASTERCARD INC	COM	57636Q104	296	1,042	SH		SOLE		1,042	0	0
MATERIALS SELECT SECTOR SPDR ETF	COM	81369Y100	279	4,106	SH		SOLE		25	0	4,081
MCDONALDS CORP	COM	580135101	2,297	9,954	SH		SOLE		7,296	0	2,658
MEDTRONIC PLC	COM	G5960L103	9,595	118,824	SH		SOLE		10,244	0	108,580
MERCK & CO INC	COM	58933Y105	2,383	27,669	SH		SOLE		20,845	0	6,824
META PLATFORMS INC	COM	30303M102	4,482	33,036	SH		SOLE		25,379	0	7,657
METLIFE INC	COM	59156R108	319	5,252	SH		SOLE		5,102	0	150
MICROSOFT CORP	COM	594918104	25,987	111,580	SH		SOLE		91,163	0	20,417
MIDCAP FINANCIAL INVESTMENT CORPORATION	COM	03761U502	133	13,000	SH		SOLE		13,000	0	0
MODELEZ INTERANTIONAL INC	COM	609207105	2,141	39,053	SH		SOLE		32,702	0	6,351
MORGAN STANLEY	COM	617446448	3,992	50,532	SH		SOLE		38,452	0	12,080
NEXTERA ENERGY INC.	COM	65339F101	1,057	13,477	SH		SOLE		7,693	0	5,784
NIKE INC CLASS B	COM	654106103	1,234	14,844	SH		SOLE		7,949	0	6,895
NORFOLK SOUTHERN CORP	COM	655844108	477	2,273	SH		SOLE		2,228	0	45
NORTHROP GRUMMAN CORP	COM	666807102	1,256	2,670	SH		SOLE		2,345	0	325
NUCOR CORP	COM	670346105	1,714	16,020	SH		SOLE		14,775	0	1,245
NUVEEN AMT FREE MUNICIPAL CREDIT INCOME FD	COM	67071L106	123	10,500	SH		SOLE		10,500	0	0
NUVEEN AMT FREE MUN INCOME FD	COM	670657105	233	22,000	SH		SOLE		22,000	0	0
NUVEEN MUN HIGH INCOME OPP FD	COM	670682103	118	11,500	SH		SOLE		11,500	0	0
NUVEEN MUNICIPAL CR INCOME FD	COM	67070X101	119	10,500	SH		SOLE		10,500	0	0
NUVEEN MUNICIPAL VALUE FUND INC	COM	670928100	1,385	163,711	SH		SOLE		160,011	0	3,700
NVIDIA CORP	COM	67066G104	7,067	58,221	SH		SOLE		47,776	0	10,445
OCCIDENTAL PETROLEIM CORP	COM	674599105	284	4,629	SH		SOLE		4,529	0	100
OGE ENERGY CORP	COM	670837103	433	11,881	SH		SOLE		11,881	0	0
ORACLE CORPORATION	COM	68389X105	1,927	31,551	SH		SOLE		30,900	0	650
ORANGE CNTY BANCORP INC	COM	68417L107	23,465	609,476	SH		SOLE		0	0	609,476
OSHKOSH CORP	COM	688239201	648	9,226	SH		SOLE		6,232	0	2,994
PEPSICO INCORPORATED	COM	713448108	8,053	49,326	SH		SOLE		37,076	0	12,250
PERKINELMER INC	COM	714046109	2,555	21,236	SH		SOLE		16,358	0	4,878
PFIZER INCORPORATED	COM	717081103	6,547	149,608	SH		SOLE		128,808	0	20,800
PHILLIPS 66	COM	718546104	593	7,346	SH		SOLE		4,737	0	2,609
PIMCO ETF ENHANCED SHORT FD	COM	72201R833	3,209	32,460	SH		SOLE		0	0	32,460
PINNACLE WEST CAPITAL	COM	723484101	393	6,093	SH		SOLE		6,093	0	0
PLATINUM GROUP METALS LTD	COM	72765Q882	21	13,150	SH		SOLE		0	0	13,150
PNC FINANCIAL SERVICES	COM	693475105	663	4,437	SH		SOLE		1,582	0	2,855
PPL CORPORATION	COM	69351T106	435	17,170	SH		SOLE		16,270	0	900
PROCTER & GAMBLE CO	COM	742718109	3,030	23,999	SH		SOLE		19,271	0	4,728
PROLOGICS INC.	COM	74340W103	3,330	32,774	SH		SOLE		27,241	0	5,533
PUBLIC SERVICE ENTERPRISE GROUP INC	COM	744573106	392	6,975	SH		SOLE		6,975	0	0
QUALCOMM INC	COM	747525103	441	3,904	SH		SOLE		2,560	0	1,344
RAYTHEON COMPANY NEW	COM	75513E101	1,070	13,069	SH		SOLE		4,656	0	8,413
READY CAPITAL CORPORATION	COM	75574U101	119	11,700	SH		SOLE		11,700	0	0
REAL ESTATE SELECT SECTOR SPDR	COM	81369Y860	271	7,528	SH		SOLE		0	0	7,528
REALTY INCOME CORP	COM	756109104	430	7,380	SH		SOLE		7,380	0	0
RESMED INC	COM	761152107	2,405	11,018	SH		SOLE		18	0	11,000
RITHM CAPITAL	COM	64828T201	105	14,300	SH		SOLE		14,300	0	0
ROYAL CARIBBEAN CRUISES LTD	COM	V7780T103	235	6,192	SH		SOLE		4,174	0	2,018
SALESFORCE COM	COM	79466L302	4,578	31,828	SH		SOLE		24,133	0	7,695
SALTBAE CAPITAL CORP	COM	79575K104	0	15,000	SH		SOLE		15,000	0	0
SCHLUMBERGER LTD	COM	806857108	1,501	41,812	SH		SOLE		38,829	0	2,983
SHELL PLC ADR	COM	780259305	305	6,130	SH		SOLE		5,580	0	550
SHERWIN WILLIAMS CO	COM	824348106	4,171	20,369	SH		SOLE		14,659	0	5,710
SIMON PROPERTY GROUP INC	COM	828806109	1,210	13,478	SH		SOLE		12,668	0	810
SOUTHERN COMPANY	COM	842587107	1,249	18,370	SH		SOLE		17,730	0	640
SOUTHWEST AIRLINES CO	COM	844741108	782	25,365	SH		SOLE		22,820	0	2,545
SPDR S&P 500 ETF TR	COM	78462F103	12,297	34,428	SH		SOLE		377	0	34,051
SPDR S&P MIDCAP 400 ETF TR	COM	78467Y107	4,060	10,109	SH		SOLE		380	0	9,729
SPDR PORTFOLIO EMERGING MARKETS ETF	COM	78463X509	233	7,501	SH		SOLE		1,932	0	5,569
SPDR SER TR BLOOMBERG BARCLAYS INTER TERM CORP BD ETF	COM	78464A375	11,565	369,243	SH		SOLE		4,405	0	364,838
SPDR PORTFOLIO S&P 400 MID CAP ETF	COM	78464A847	364	9,439	SH		SOLE		1,948	0	7,491
SPDR PORTFILIO S&P 500 GROWTH	COM	78464A409	438	8,748	SH		SOLE		0	0	8,748
SPDR PORTFILIO S&P 500 VALUE	COM	78464A508	374	10,830	SH		SOLE		0	0	10,830
SPDR PORTFOLIO S&P 600 SMALL CAP ETF	COM	78468R853	674	19,793	SH		SOLE		3,584	0	16,209
SPDR PORTFOLIO SHORT TERM CORPORATE BD ETF	COM	78464A474	6,950	237,858	SH		SOLE		1,005	0	236,853
SPDR S&P 600 SMALL CAP ETF	COM	78464A813	2,581	34,102	SH		SOLE		0	0	34,102
SS&C TECHNOLOGIES HOLDINGS, INC.	COM	78467J100	389	8,149	SH		SOLE		8	0	8,141
STARBUCKS CORP	COM	855244109	2,207	26,189	SH		SOLE		26,189	0	0
STORE CAPITAL CORP	COM	862121100	318	10,147	SH		SOLE		10,147	0	0
SUNOCO LP COM	COM	86765K109	468	12,000	SH		SOLE		12,000	0	0
SYSCO CORPORATION	COM	871829107	1,868	26,422	SH		SOLE		23,227	0	3,195
T. ROWE PRICE GROUP INC	COM	74144T108	312	2,975	SH		SOLE		2,975	0	0
SPDR SECTOR TECHNOLOGY ETF	COM	81369Y803	10,089	84,942	SH		SOLE		1,048	0	83,894
TESLA MOTORS INC	COM	88160R101	898	3,387	SH		SOLE		3,387	0	0
AES CORP	COM	00130H105	2,304	101,941	SH		SOLE		92,284	0	9,657
ESTEE LAUDER COMPANIES INC CL A	COM	518439104	3,017	13,973	SH		SOLE		8,979	0	4,994
THE HERSHEY CO	COM	427866108	258	1,170	SH		SOLE		425	0	745
THE HOME DEPOT INC	COM	437076102	12,859	46,602	SH		SOLE		37,527	0	9,075
THE KRAFT HEINZ CO	COM	500754106	288	8,626	SH		SOLE		7,751	0	875
THERMO FISHER SCIENTIFIC INC.	COM	883556102	11,797	23,260	SH		SOLE		18,375	0	4,885
TRUIST FINANCIAL CORP	COM	89832Q109	474	10,883	SH		SOLE		10,258	0	625
TWO HARBORS INVESTMENT CORP	COM	90187B408	51	15,350	SH		SOLE		15,350	0	0
UNITED RENTALS INC	COM	911363109	1,965	7,274	SH		SOLE		6,549	0	725
UNITED HEALTHCARE CORP	COM	91324P102	11,590	22,949	SH		SOLE		17,583	0	5,366
UNITI CORP	COM	91325V108	104	14,900	SH		SOLE		0	0	14,900
UNITIL CORP	COM	913259107	440	9,464	SH		SOLE		9,464	0	0
SPDR SELECT SECTOR UTILITIES	COM	81369Y886	1,509	23,032	SH		SOLE		1,425	0	21,607
VALERO ENERGY CORP	COM	91913Y100	482	4,515	SH		SOLE		1,455	0	3,060
VANGUARD SCOTTSDALE FUNDS SHORT TERM CORP	COM	92206C409	814	10,965	SH		SOLE		0	0	10,965
VERIZON COMMUNICATIONS	COM	92343V104	4,443	117,026	SH		SOLE		96,187	0	20,839
VISA INC	COM	92826C839	4,844	27,268	SH		SOLE		19,039	0	8,229
WALGREEN BOOTS ALLIANCE INC	COM	931427108	213	6,797	SH		SOLE		6,797	0	0
WAL-MART STORES INC	COM	931142103	2,691	20,751	SH		SOLE		13,557	0	7,194
DISNEY WALT CO	COM	254687106	4,211	44,645	SH		SOLE		34,395	0	10,250
WEBSTER FINL CORP	COM	947890109	2,999	66,355	SH		SOLE		66,355	0	0
WEYERHAEUSER CO	COM	962166104	1,660	58,107	SH		SOLE		52,216	0	5,891
WILLIAMS COMPANIES	COM	969457100	388	13,535	SH		SOLE		13,285	0	250
XCEL ENERGY INC	COM	98389B100	401	6,267	SH		SOLE		6,267	0	0