Instuitional Investor - Hudson Valley Investment Advisors Inc V

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Eli Lilly & Co	LLY	41,468	$49,737,956	6.04%
2.	Spdr Series Trust	KRE	1,339,605	$44,823,184	5.45%
3.	Orange County Bancorp Inc.	OBT	1,060,922	$39,020,712	4.74%
4.	Spdr Series Trust	KRE	1,180,398	$35,423,746	4.3%
5.	Sector Spdr Trust	XLE	183,366	$34,934,897	4.24%