13F HOLDINGS REPORT

HANOVER ADVISORS INC

Quarter ended Q1 2025 · Filed May 14, 2025 · Accession 0000914973-25-000003

Total Value

$230.6M

Positions

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (94)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	VANGUARD INDEX FDS	922908769	206,240	$56.7M	24.58%
2	SPDR S&P 500 ETF TR	SPY	60,789	$34.0M	14.75%
3	SPDR SER TR	78468R663	322,416	$29.6M	12.83%
4	VANGUARD SPECIALIZED FUNDS	921908844	87,614	$17.0M	7.37%
5	ISHARES TR	464287689	41,981	$13.3M	5.78%
6	VANGUARD BD INDEX FDS	921937819	114,533	$8.8M	3.80%
7	SPDR S&P MIDCAP 400 ETF TR	MDY	11,759	$6.3M	2.72%
8	VANGUARD INDEX FDS	922908363	9,081	$4.7M	2.02%
9	VANGUARD WHITEHALL FDS	921946406	33,330	$4.3M	1.86%
10	VANGUARD INDEX FDS	922908736	7,908	$2.9M	1.27%
11	INVESCO EXCH TRD SLF IDX FD	IVZ	98,589	$2.0M	0.88%
12	VANGUARD INDEX FDS	922908744	11,794	$2.0M	0.88%
13	MICROSOFT CORP	MSFT	4,568	$1.7M	0.74%
14	ISHARES TR	46429B291	35,277	$1.7M	0.73%
15	INVESCO EXCH TRD SLF IDX FD	IVZ	83,299	$1.6M	0.71%
16	SSGA ACTIVE TR	78470P846	56,206	$1.6M	0.69%
17	VANGUARD WORLD FD	92204A702	2,870	$1.6M	0.68%
18	VANGUARD MALVERN FDS	922020805	30,257	$1.5M	0.65%
19	COCA COLA CO	KO	20,298	$1.5M	0.63%
20	PACKAGING CORP AMER	695156109	6,520	$1.3M	0.56%
21	INVESCO EXCH TRD SLF IDX FD	IVZ	63,938	$1.2M	0.54%
22	ISHARES TR	464287440	12,998	$1.2M	0.54%
23	VANGUARD INDEX FDS	922908553	13,275	$1.2M	0.52%
24	INVESCO EXCH TRD SLF IDX FD	IVZ	56,489	$1.1M	0.50%
25	VANGUARD MUN BD FDS	922907746	21,791	$1.1M	0.47%
26	ISHARES TR	464287291	13,387	$1.0M	0.44%
27	VANGUARD INSTL INDEX FD	922040845	12,551	$946,847	0.41%
28	VICI PPTYS INC	925652109	25,507	$832,038	0.36%
29	INVESCO EXCH TRD SLF IDX FD	IVZ	43,342	$803,127	0.35%
30	BERKSHIRE HATHAWAY INC DEL	BRK-A	1	$798,442	0.35%
31	VANGUARD WORLD FD	92204A603	2,997	$741,907	0.32%
32	VANGUARD WORLD FD	92204A884	4,952	$734,827	0.32%
33	FIRST TR EXCHANGE TRADED FD	33738R704	10,652	$726,573	0.32%
34	INVESCO EXCH TRD SLF IDX FD	IVZ	40,907	$678,647	0.29%
35	ISHARES TR	464287598	3,604	$678,129	0.29%
36	ISHARES TR	464287614	1,869	$674,877	0.29%
37	MARINE PRODS CORP	568427108	78,135	$655,553	0.28%
38	SELECT SECTOR SPDR TR	81369Y803	3,169	$654,335	0.28%
39	VANGUARD ADMIRAL FDS INC	921932885	6,592	$650,630	0.28%
40	DIMENSIONAL ETF TRUST	25434V401	10,166	$614,840	0.27%
41	WISDOMTREE TR	WT	11,871	$587,834	0.25%
42	ISHARES TR	464288679	5,262	$581,241	0.25%
43	VANGUARD BD INDEX FDS	921937793	8,100	$570,388	0.25%
44	VANGUARD WORLD FD	92204A405	4,733	$565,452	0.25%
45	ISHARES INC	46434G764	10,254	$564,893	0.24%
46	BANK AMERICA CORP	060505104	13,497	$563,230	0.24%
47	ISHARES TR	46436E718	5,525	$556,202	0.24%
48	VANGUARD TAX-MANAGED FDS	921943858	10,775	$547,693	0.24%
49	VANGUARD SCOTTSDALE FDS	92206C706	8,687	$516,008	0.22%
50	SCHWAB STRATEGIC TR	808524102	23,061	$496,503	0.22%
51	ARK ETF TR	00214Q104	10,399	$494,784	0.21%
52	DIMENSIONAL ETF TRUST	25434V740	18,101	$489,632	0.21%
53	VANGUARD ADMIRAL FDS INC	921932844	5,233	$481,661	0.21%
54	DIMENSIONAL ETF TRUST	25434V781	16,194	$471,569	0.20%
55	DIMENSIONAL ETF TRUST	25434V815	15,475	$435,621	0.19%
56	DIMENSIONAL ETF TRUST	25434V807	10,983	$432,291	0.19%
57	SELECT SECTOR SPDR TR	81369Y506	4,482	$418,812	0.18%
58	GLOBUS MED INC	GMED	5,580	$408,456	0.18%
59	ISHARES TR	464287226	4,052	$400,824	0.17%
60	INVESCO EXCH TRD SLF IDX FD	IVZ	24,246	$395,452	0.17%
61	ISHARES TR	46429B663	3,199	$387,463	0.17%
62	SPDR INDEX SHS FDS	78463X541	7,028	$374,241	0.16%
63	VANGUARD INDEX FDS	922908652	2,125	$366,053	0.16%
64	DIMENSIONAL ETF TRUST	25434V708	10,660	$351,673	0.15%
65	HOME DEPOT INC	HD	955	$349,998	0.15%
66	DIMENSIONAL ETF TRUST	25434V831	10,462	$346,711	0.15%
67	DIGITAL RLTY TR INC	253868103	2,401	$344,039	0.15%
68	VANGUARD INTL EQUITY INDEX F	922042775	5,636	$341,849	0.15%
69	DIMENSIONAL ETF TRUST	25434V500	5,627	$336,213	0.15%
70	JPMORGAN CHASE & CO.	VYLD	1,355	$332,382	0.14%
71	INVESCO EXCH TRD SLF IDX FD	IVZ	15,843	$322,722	0.14%
72	VANGUARD WORLD FD	92204A306	2,477	$321,292	0.14%
73	VANGUARD BD INDEX FDS	921937827	4,074	$318,897	0.14%
74	VANGUARD ADMIRAL FDS INC	921932703	1,680	$309,439	0.13%
75	VANGUARD SCOTTSDALE FDS	92206C870	3,667	$299,814	0.13%
76	VANGUARD SCOTTSDALE FDS	92206C409	3,632	$286,710	0.12%
77	DIMENSIONAL ETF TRUST	25434V609	5,367	$276,347	0.12%
78	ISHARES TR	464287457	3,334	$275,822	0.12%
79	SOUTHSTATE CORPORATION	SSB	2,780	$258,040	0.11%
80	ISHARES TR	464287101	950	$257,289	0.11%
81	APPLE INC	AAPL	1,146	$254,561	0.11%
82	VANGUARD BD INDEX FDS	92203C303	5,070	$252,765	0.11%
83	PEPSICO INC	PEP	1,678	$251,599	0.11%
84	MACERICH CO	MAC	14,392	$247,111	0.11%
85	SPDR GOLD TR	GLD	849	$244,631	0.11%
86	SRH TOTAL RETURN FUND INC	STEW	13,976	$241,086	0.10%
87	ARES CAPITAL CORP	ARCC	10,839	$240,192	0.10%
88	WALMART INC	WMT	2,550	$223,865	0.10%
89	VANGUARD CHARLOTTE FDS	92203J407	4,563	$222,766	0.10%
90	VANGUARD BD INDEX FDS	921937835	2,878	$211,389	0.09%
91	VORNADO RLTY TR	929042109	5,632	$208,328	0.09%
92	DIMENSIONAL ETF TRUST	25434V203	6,589	$205,774	0.09%
93	ADVISORSHARES TR	00768Y529	13,014	$97,865	0.04%
94	EMPIRE ST RLTY TR INC	292104106	11,305	$88,405	0.04%