13F HOLDINGS REPORT

HANOVER ADVISORS INC

Quarter ended Q2 2025 · Filed August 12, 2025 · Accession 0000914973-25-000004

Total Value

$245.2M

Positions

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (97)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	VANGUARD INDEX FDS	922908769	187,665	$57.0M	23.26%
2	SPDR S&P 500 ETF TR	SPY	59,349	$36.7M	14.95%
3	SPDR SERIES TRUST	78468R663	286,531	$26.3M	10.72%
4	VANGUARD SPECIALIZED FUNDS	921908844	86,213	$17.6M	7.20%
5	ISHARES TR	464287689	41,081	$14.4M	5.88%
6	VANGUARD INSTL INDEX FD	922040845	121,941	$9.2M	3.76%
7	VANGUARD BD INDEX FDS	921937819	106,232	$8.2M	3.35%
8	SPDR S&P MIDCAP 400 ETF TR	MDY	11,336	$6.4M	2.62%
9	VANGUARD INDEX FDS	922908363	8,191	$4.7M	1.90%
10	VANGUARD WHITEHALL FDS	921946406	31,733	$4.2M	1.72%
11	VANGUARD INDEX FDS	922908736	7,738	$3.4M	1.38%
12	MICROSOFT CORP	MSFT	4,561	$2.3M	0.93%
13	VANGUARD WORLD FD	92204A702	3,101	$2.1M	0.84%
14	INVESCO EXCH TRD SLF IDX FD	IVZ	94,589	$2.0M	0.80%
15	VANGUARD INDEX FDS	922908744	11,003	$1.9M	0.79%
16	INVESCO EXCH TRD SLF IDX FD	IVZ	84,539	$1.7M	0.68%
17	ISHARES TR	46429B291	33,385	$1.6M	0.65%
18	VANGUARD INDEX FDS	922908553	17,074	$1.5M	0.62%
19	VANGUARD MALVERN FDS	922020805	30,216	$1.5M	0.62%
20	COCA COLA CO	KO	20,298	$1.4M	0.59%
21	SSGA ACTIVE TR	78470P846	46,491	$1.3M	0.54%
22	VANGUARD MUN BD FDS	922907746	26,851	$1.3M	0.54%
23	ISHARES TR	464287440	12,826	$1.2M	0.50%
24	ISHARES TR	464287291	13,134	$1.2M	0.49%
25	PACKAGING CORP AMER	695156109	6,423	$1.2M	0.49%
26	INVESCO EXCH TRD SLF IDX FD	IVZ	61,886	$1.2M	0.49%
27	INVESCO EXCH TRD SLF IDX FD	IVZ	58,922	$1.2M	0.49%
28	VANGUARD SCOTTSDALE FDS	92206C706	17,370	$1.0M	0.42%
29	VANGUARD TAX-MANAGED FDS	921943858	17,937	$1.0M	0.42%
30	VANGUARD WORLD FD	92204A603	3,623	$1.0M	0.41%
31	FIRST TR EXCHANGE TRADED FD	33738R704	11,247	$915,506	0.37%
32	INVESCO EXCH TRD SLF IDX FD	IVZ	46,305	$865,904	0.35%
33	ISHARES TR	464289867	13,848	$852,621	0.35%
34	DIMENSIONAL ETF TRUST	25434V401	12,557	$841,570	0.34%
35	VANGUARD WORLD FD	92204A884	4,745	$811,537	0.33%
36	ISHARES TR	464287614	1,869	$793,540	0.32%
37	SELECT SECTOR SPDR TR	81369Y803	2,953	$747,788	0.30%
38	VANGUARD ADMIRAL FDS INC	921932885	7,076	$742,838	0.30%
39	INVESCO EXCH TRD SLF IDX FD	IVZ	44,186	$741,441	0.30%
40	BERKSHIRE HATHAWAY INC DEL	BRK-A	1	$728,800	0.30%
41	ISHARES TR	464287598	3,604	$700,005	0.29%
42	MARINE PRODS CORP	568427108	78,135	$664,929	0.27%
43	ISHARES TR	464287226	6,278	$622,778	0.25%
44	BANK AMERICA CORP	060505104	13,088	$619,324	0.25%
45	GAMING & LEISURE PPTYS INC	36467J108	12,946	$604,319	0.25%
46	ISHARES INC	46434G764	9,521	$601,156	0.25%
47	WISDOMTREE TR	WT	11,871	$594,956	0.24%
48	ARK ETF TR	00214Q104	8,331	$585,586	0.24%
49	VANGUARD WORLD FD	92204A405	4,561	$580,615	0.24%
50	ISHARES TR	46436E718	5,575	$561,347	0.23%
51	DIMENSIONAL ETF TRUST	25434V740	18,394	$551,636	0.22%
52	VANGUARD BD INDEX FDS	921937793	7,741	$538,295	0.22%
53	DIMENSIONAL ETF TRUST	25434V781	16,040	$527,876	0.22%
54	VANGUARD ADMIRAL FDS INC	921932844	5,228	$499,117	0.20%
55	DIMENSIONAL ETF TRUST	25434V807	10,928	$468,046	0.19%
56	INVESCO EXCH TRD SLF IDX FD	IVZ	27,255	$450,525	0.18%
57	DIMENSIONAL ETF TRUST	25434V815	14,829	$436,417	0.18%
58	DIGITAL RLTY TR INC	253868103	2,366	$412,465	0.17%
59	VANGUARD INDEX FDS	922908652	2,125	$409,509	0.17%
60	JPMORGAN CHASE & CO.	VYLD	1,355	$392,828	0.16%
61	SELECT SECTOR SPDR TR	81369Y506	4,605	$390,579	0.16%
62	INVESCO EXCH TRD SLF IDX FD	IVZ	18,649	$384,169	0.16%
63	ISHARES TR	46429B663	3,199	$374,827	0.15%
64	DIMENSIONAL ETF TRUST	25434V831	10,432	$370,962	0.15%
65	DIMENSIONAL ETF TRUST	25434V708	9,810	$351,590	0.14%
66	HOME DEPOT INC	HD	955	$350,141	0.14%
67	DIMENSIONAL ETF TRUST	25434V500	5,211	$331,993	0.14%
68	ISHARES TR	464288679	2,993	$330,487	0.13%
69	GLOBUS MED INC	GMED	5,580	$329,332	0.13%
70	VANGUARD INTL EQUITY INDEX F	922042775	4,882	$328,168	0.13%
71	VANGUARD SCOTTSDALE FDS	92206C870	3,954	$327,866	0.13%
72	SPDR INDEX SHS FDS	78463X541	5,908	$320,450	0.13%
73	VANGUARD BD INDEX FDS	921937827	4,034	$317,460	0.13%
74	VANGUARD ADMIRAL FDS INC	921932703	1,680	$317,033	0.13%
75	VANGUARD WORLD FD	92204A306	2,561	$305,066	0.12%
76	ISHARES TR	464287101	950	$289,133	0.12%
77	VANGUARD SCOTTSDALE FDS	92206C409	3,632	$288,744	0.12%
78	DIMENSIONAL ETF TRUST	25434V609	5,257	$283,668	0.12%
79	ISHARES TR	464287457	3,418	$283,215	0.12%
80	ISHARES TR	464289875	5,890	$271,176	0.11%
81	SPDR GOLD TR	GLD	849	$258,801	0.11%
82	SOUTHSTATE CORPORATION	SSB	2,780	$255,843	0.10%
83	VANGUARD BD INDEX FDS	92203C303	5,070	$252,816	0.10%
84	DIMENSIONAL ETF TRUST	25434V849	5,267	$249,814	0.10%
85	WALMART INC	WMT	2,550	$249,339	0.10%
86	APPLE INC	AAPL	1,212	$248,666	0.10%
87	SRH TOTAL RETURN FUND INC	STEW	13,976	$247,096	0.10%
88	DIMENSIONAL ETF TRUST	25434V203	7,100	$245,447	0.10%
89	ADVISORSHARES TR	00768Y529	32,910	$244,521	0.10%
90	VANGUARD BD INDEX FDS	921937835	3,230	$237,825	0.10%
91	MACERICH CO	MAC	14,551	$235,435	0.10%
92	PEPSICO INC	PEP	1,678	$221,563	0.09%
93	VANGUARD CHARLOTTE FDS	92203J407	4,474	$221,508	0.09%
94	DIMENSIONAL ETF TRUST	25434V773	7,275	$217,086	0.09%
95	VORNADO RLTY TR	929042109	5,666	$216,668	0.09%
96	UNITED CMNTY BKS BLAIRSVLE G	UNTCW	7,059	$210,288	0.09%
97	PIEDMONT REALTY TRUST INC	PDM	11,814	$86,124	0.04%