13F HOLDINGS REPORT

HANOVER ADVISORS INC

Quarter ended Q3 2025 · Filed November 6, 2025 · Accession 0000914973-25-000006

Total Value

$257.7M

Positions

103

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (103)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	VANGUARD INDEX FDS	922908769	186,683	$61.3M	23.77%
2	SPDR S&P 500 ETF TR	SPY	59,366	$39.5M	15.35%
3	VANGUARD SPECIALIZED FUNDS	921908844	83,947	$18.1M	7.03%
4	ISHARES TR	464287689	39,020	$14.8M	5.74%
5	SPDR SERIES TRUST	78468R663	145,614	$13.4M	5.18%
6	VANGUARD BD INDEX FDS	921937819	103,873	$8.1M	3.15%
7	SPDR S&P MIDCAP 400 ETF TR	MDY	11,372	$6.8M	2.63%
8	VANGUARD INSTL INDEX FD	922040845	88,000	$6.7M	2.58%
9	ISHARES TR	464289867	96,731	$6.2M	2.42%
10	ISHARES TR	464289875	125,743	$6.0M	2.32%
11	VANGUARD INDEX FDS	922908363	8,191	$5.0M	1.95%
12	VANGUARD WHITEHALL FDS	921946406	30,993	$4.4M	1.70%
13	VANGUARD INDEX FDS	922908736	7,681	$3.7M	1.43%
14	MICROSOFT CORP	MSFT	4,561	$2.4M	0.92%
15	VANGUARD WORLD FD	92204A702	3,074	$2.3M	0.89%
16	VANGUARD INDEX FDS	922908744	11,185	$2.1M	0.81%
17	INVESCO EXCH TRD SLF IDX FD	IVZ	94,369	$2.0M	0.76%
18	INVESCO EXCH TRD SLF IDX FD	IVZ	84,163	$1.7M	0.64%
19	ISHARES TR	46429B291	32,724	$1.6M	0.62%
20	VANGUARD MALVERN FDS	922020805	30,409	$1.5M	0.60%
21	VANGUARD INDEX FDS	922908553	16,649	$1.5M	0.59%
22	PACKAGING CORP AMER	695156109	6,423	$1.4M	0.54%
23	ISHARES TR	464287291	13,497	$1.4M	0.54%
24	COCA COLA CO	KO	20,298	$1.3M	0.52%
25	VANGUARD MUN BD FDS	922907746	26,851	$1.3M	0.52%
26	VANGUARD TAX-MANAGED FDS	921943858	22,418	$1.3M	0.52%
27	SSGA ACTIVE TR	78470P846	44,663	$1.3M	0.50%
28	TESLA INC	TSLA	2,800	$1.2M	0.48%
29	INVESCO EXCH TRD SLF IDX FD	IVZ	60,334	$1.2M	0.48%
30	INVESCO EXCH TRD SLF IDX FD	IVZ	61,987	$1.2M	0.47%
31	ISHARES TR	464287440	12,379	$1.2M	0.46%
32	FIRST TR EXCHANGE TRADED FD	33738R704	11,704	$1.1M	0.44%
33	VANGUARD WORLD FD	92204A603	3,643	$1.1M	0.42%
34	VANGUARD SCOTTSDALE FDS	92206C706	16,616	$997,458	0.39%
35	ARK ETF TR	00214Q302	34,629	$961,647	0.37%
36	VANGUARD WORLD FD	92204A884	4,791	$899,414	0.35%
37	DIMENSIONAL ETF TRUST	25434V401	12,397	$898,039	0.35%
38	INVESCO EXCH TRD SLF IDX FD	IVZ	47,342	$890,503	0.35%
39	PALANTIR TECHNOLOGIES INC	PLTR	4,860	$886,561	0.34%
40	ISHARES TR	464287614	1,869	$875,458	0.34%
41	ISHARES TR	464287226	8,540	$856,135	0.33%
42	SELECT SECTOR SPDR TR	81369Y803	2,946	$830,360	0.32%
43	BERKSHIRE HATHAWAY INC DEL	BRK-A	1,627	$817,958	0.32%
44	INVESCO EXCH TRD SLF IDX FD	IVZ	46,847	$791,714	0.31%
45	ARK ETF TR	00214Q104	9,090	$784,467	0.30%
46	BERKSHIRE HATHAWAY INC DEL	BRK-A	1	$754,200	0.29%
47	VANGUARD ADMIRAL FDS INC	921932885	6,662	$735,352	0.29%
48	ISHARES TR	464287598	3,604	$733,738	0.28%
49	ISHARES INC	46434G764	10,642	$718,441	0.28%
50	MARINE PRODS CORP	568427108	78,135	$693,057	0.27%
51	BANK AMERICA CORP	060505104	13,088	$675,210	0.26%
52	WISDOMTREE TR	WT	11,871	$620,834	0.24%
53	GAMING & LEISURE PPTYS INC	36467J108	12,918	$602,108	0.23%
54	VANGUARD WORLD FD	92204A405	4,561	$598,586	0.23%
55	DIMENSIONAL ETF TRUST	25434V740	18,447	$588,275	0.23%
56	DIMENSIONAL ETF TRUST	25434V781	16,040	$572,468	0.22%
57	ISHARES TR	46436E718	5,525	$556,368	0.22%
58	DIMENSIONAL ETF TRUST	25434V807	11,498	$530,288	0.21%
59	VANGUARD BD INDEX FDS	921937793	7,446	$527,535	0.20%
60	VANGUARD ADMIRAL FDS INC	921932844	5,186	$522,593	0.20%
61	DIMENSIONAL ETF TRUST	25434V815	16,405	$522,335	0.20%
62	INVESCO EXCH TRD SLF IDX FD	IVZ	29,859	$498,048	0.19%
63	VANGUARD INDEX FDS	922908652	2,123	$444,429	0.17%
64	INVESCO EXCH TRD SLF IDX FD	IVZ	21,256	$443,825	0.17%
65	JPMORGAN CHASE & CO.	VYLD	1,355	$427,408	0.17%
66	DIGITAL RLTY TR INC	253868103	2,472	$427,359	0.17%
67	SELECT SECTOR SPDR TR	81369Y506	4,593	$410,369	0.16%
68	DIMENSIONAL ETF TRUST	25434V831	10,432	$394,017	0.15%
69	ISHARES TR	46429B663	3,199	$391,718	0.15%
70	HOME DEPOT INC	HD	955	$386,956	0.15%
71	DIMENSIONAL ETF TRUST	25434V500	5,527	$378,378	0.15%
72	DIMENSIONAL ETF TRUST	25434V708	9,810	$378,372	0.15%
73	SPDR INDEX SHS FDS	78463X541	6,033	$357,214	0.14%
74	VANGUARD INTL EQUITY INDEX F	922042775	4,912	$350,569	0.14%
75	VANGUARD ADMIRAL FDS INC	921932703	1,680	$335,110	0.13%
76	VANGUARD SCOTTSDALE FDS	92206C870	3,954	$332,571	0.13%
77	ISHARES TR	464288679	2,993	$330,697	0.13%
78	DIMENSIONAL ETF TRUST	25434V609	5,604	$326,209	0.13%
79	VANGUARD WORLD FD	92204A306	2,561	$322,327	0.13%
80	GLOBUS MED INC	GMED	5,580	$319,567	0.12%
81	VANGUARD BD INDEX FDS	921937827	4,034	$318,307	0.12%
82	ISHARES TR	464287101	950	$316,198	0.12%
83	APPLE INC	AAPL	1,195	$304,283	0.12%
84	SPDR GOLD TR	GLD	849	$301,794	0.12%
85	DIMENSIONAL ETF TRUST	25434V203	8,110	$294,799	0.11%
86	VANGUARD SCOTTSDALE FDS	92206C409	3,632	$290,306	0.11%
87	ISHARES TR	464287457	3,418	$283,557	0.11%
88	ISHARES TR	464289859	3,156	$278,170	0.11%
89	SOUTHSTATE BK CORP	84472E102	2,780	$274,859	0.11%
90	SELECT SECTOR SPDR TR	81369Y704	1,734	$267,435	0.10%
91	MACERICH CO	MAC	14,539	$264,610	0.10%
92	WALMART INC	WMT	2,550	$262,803	0.10%
93	VANGUARD CHARLOTTE FDS	92203J407	5,288	$261,544	0.10%
94	SRH TOTAL RETURN FUND INC	STEW	13,976	$253,804	0.10%
95	DIMENSIONAL ETF TRUST	25434V849	5,267	$252,711	0.10%
96	VANGUARD BD INDEX FDS	92203C303	4,998	$249,850	0.10%
97	VANGUARD BD INDEX FDS	921937835	3,230	$240,215	0.09%
98	VORNADO RLTY TR	929042109	5,844	$236,857	0.09%
99	PEPSICO INC	PEP	1,678	$235,658	0.09%
100	DIMENSIONAL ETF TRUST	25434V773	7,275	$230,108	0.09%
101	UNITED CMNTY BKS BLAIRSVLE G	UNTCW	7,059	$221,300	0.09%
102	ADVISORSHARES TR	00768Y529	21,417	$147,135	0.06%
103	PIEDMONT REALTY TRUST INC	PDM	13,499	$121,491	0.05%