13F HOLDINGS REPORT

HANOVER ADVISORS INC

Quarter ended Q4 2025 · Filed February 17, 2026 · Accession 0000914973-26-000001

Total Value

$257.6M

Positions

109

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (109)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	VANGUARD INDEX FDS	922908769	186,480	$62.5M	24.27%
2	SPDR S&P 500 ETF TR	SPY	59,094	$40.3M	15.65%
3	VANGUARD SPECIALIZED FUNDS	921908844	82,731	$18.2M	7.06%
4	ISHARES TR	464287689	38,315	$14.8M	5.75%
5	SPDR SERIES TRUST	78468R663	109,520	$10.0M	3.89%
6	VANGUARD BD INDEX FDS	921937819	104,013	$8.1M	3.14%
7	SPDR S&P MIDCAP 400 ETF TR	MDY	11,127	$6.7M	2.61%
8	ISHARES TR	464289867	100,435	$6.5M	2.53%
9	VANGUARD INSTL INDEX FD	922040845	79,600	$6.0M	2.33%
10	VANGUARD INDEX FDS	922908363	8,146	$5.1M	1.98%
11	VANGUARD WHITEHALL FDS	921946406	30,870	$4.4M	1.72%
12	ISHARES TR	464289875	78,751	$3.8M	1.46%
13	VANGUARD INDEX FDS	922908736	7,549	$3.7M	1.43%
14	ISHARES TR	464289859	36,181	$3.2M	1.26%
15	VANGUARD WORLD FD	92204A702	3,014	$2.3M	0.88%
16	MICROSOFT CORP	MSFT	4,466	$2.2M	0.84%
17	VANGUARD INDEX FDS	922908744	11,142	$2.1M	0.83%
18	INVESCO EXCH TRD SLF IDX FD	IVZ	85,684	$1.7M	0.66%
19	TESLA INC	TSLA	3,617	$1.6M	0.63%
20	ISHARES TR	46429B291	30,837	$1.5M	0.58%
21	ISHARES TR	464287291	13,867	$1.5M	0.57%
22	VANGUARD INDEX FDS	922908553	16,445	$1.5M	0.56%
23	VANGUARD MUN BD FDS	922907746	28,686	$1.4M	0.56%
24	VANGUARD MALVERN FDS	922020805	28,793	$1.4M	0.55%
25	COCA COLA CO	KO	20,298	$1.4M	0.55%
26	VANGUARD TAX-MANAGED FDS	921943858	21,597	$1.3M	0.52%
27	PACKAGING CORP AMER	695156109	6,423	$1.3M	0.51%
28	INVESCO EXCH TRD SLF IDX FD	IVZ	63,713	$1.3M	0.51%
29	FIRST TR EXCHANGE TRADED FD	33738R704	13,083	$1.3M	0.50%
30	BERKSHIRE HATHAWAY INC DEL	BRK-A	2,487	$1.3M	0.49%
31	INVESCO EXCH TRD SLF IDX FD	IVZ	61,301	$1.2M	0.47%
32	ISHARES TR	464287440	12,256	$1.2M	0.46%
33	PALANTIR TECHNOLOGIES INC	PLTR	6,273	$1.1M	0.43%
34	VANGUARD WORLD FD	92204A603	3,643	$1.1M	0.42%
35	ARK ETF TR	00214Q302	35,589	$1.0M	0.40%
36	VANGUARD SCOTTSDALE FDS	92206C706	16,133	$966,851	0.38%
37	VANGUARD WORLD FD	92204A884	4,950	$958,469	0.37%
38	INVESCO EXCH TRD SLF IDX FD	IVZ	50,882	$958,363	0.37%
39	DIMENSIONAL ETF TRUST	25434V401	12,397	$919,485	0.36%
40	ISHARES TR	464287614	1,869	$884,598	0.34%
41	SELECT SECTOR SPDR TR	81369Y803	5,883	$846,976	0.33%
42	INVESCO EXCH TRD SLF IDX FD	IVZ	49,852	$843,496	0.33%
43	ISHARES TR	464287226	8,176	$816,619	0.32%
44	ISHARES INC	46434G764	11,165	$811,472	0.32%
45	ISHARES TR	464287598	3,604	$758,065	0.29%
46	BERKSHIRE HATHAWAY INC DEL	BRK-A	1	$754,800	0.29%
47	VANGUARD ADMIRAL FDS INC	921932885	6,633	$741,569	0.29%
48	BANK AMERICA CORP	060505104	13,088	$719,840	0.28%
49	ARK ETF TR	00214Q104	9,150	$703,818	0.27%
50	MARINE PRODS CORP	568427108	78,135	$684,463	0.27%
51	DIMENSIONAL ETF TRUST	25434V740	18,470	$623,178	0.24%
52	DIMENSIONAL ETF TRUST	25434V815	18,759	$616,984	0.24%
53	WISDOMTREE TR	WT	11,871	$612,525	0.24%
54	SSGA ACTIVE TR	78470P846	21,522	$612,086	0.24%
55	DIMENSIONAL ETF TRUST	25434V781	16,040	$609,520	0.24%
56	VANGUARD WORLD FD	92204A405	4,561	$608,848	0.24%
57	INVESCO EXCH TRADED FD TR II	IVZ	7,155	$603,095	0.23%
58	DIMENSIONAL ETF TRUST	25434V807	11,887	$593,161	0.23%
59	SPDR SERIES TRUST	78464A797	9,191	$557,802	0.22%
60	ISHARES TR	46436E718	5,525	$554,600	0.22%
61	INVESCO EXCH TRD SLF IDX FD	IVZ	32,038	$534,875	0.21%
62	VANGUARD ADMIRAL FDS INC	921932844	5,186	$523,838	0.20%
63	GLOBUS MED INC	GMED	5,580	$487,190	0.19%
64	INVESCO EXCH TRD SLF IDX FD	IVZ	23,121	$482,651	0.19%
65	VANGUARD INDEX FDS	922908652	2,123	$443,962	0.17%
66	SELECT SECTOR SPDR TR	81369Y506	9,827	$439,380	0.17%
67	DIMENSIONAL ETF TRUST	25434V831	10,432	$396,729	0.15%
68	DIMENSIONAL ETF TRUST	25434V708	9,890	$391,545	0.15%
69	DIMENSIONAL ETF TRUST	25434V500	5,587	$389,246	0.15%
70	ISHARES TR	46429B663	3,199	$389,030	0.15%
71	JPMORGAN CHASE & CO.	VYLD	1,164	$375,064	0.15%
72	SPDR INDEX SHS FDS	78463X541	5,889	$365,942	0.14%
73	VANGUARD INTL EQUITY INDEX F	922042775	4,929	$362,577	0.14%
74	VANGUARD ADMIRAL FDS INC	921932703	1,680	$344,148	0.13%
75	DIMENSIONAL ETF TRUST	25434V203	8,892	$338,874	0.13%
76	SPDR GOLD TR	GLD	849	$336,467	0.13%
77	DIMENSIONAL ETF TRUST	25434V609	5,595	$333,126	0.13%
78	HOME DEPOT INC	HD	949	$326,551	0.13%
79	ISHARES TR	464287101	950	$325,822	0.13%
80	APPLE INC	AAPL	1,195	$324,873	0.13%
81	VANGUARD WORLD FD	92204A306	2,561	$322,481	0.13%
82	VANGUARD BD INDEX FDS	921937827	4,013	$316,233	0.12%
83	VANGUARD SCOTTSDALE FDS	92206C870	3,751	$314,146	0.12%
84	GAMING & LEISURE PPTYS INC	36467J108	6,929	$309,657	0.12%
85	SELECT SECTOR SPDR TR	81369Y704	1,983	$307,603	0.12%
86	VANGUARD SCOTTSDALE FDS	92206C409	3,632	$289,579	0.11%
87	WALMART INC	WMT	2,550	$284,096	0.11%
88	ISHARES TR	464287457	3,418	$283,079	0.11%
89	ISHARES TR	46435UAA9	11,069	$268,755	0.10%
90	DIGITAL RLTY TR INC	253868103	1,727	$267,184	0.10%
91	ISHARES TR	46436E205	11,406	$266,958	0.10%
92	SOUTHSTATE BK CORP	84472E102	2,780	$261,626	0.10%
93	SRH TOTAL RETURN FUND INC	STEW	13,976	$259,115	0.10%
94	MACERICH CO	MAC	14,021	$258,828	0.10%
95	VANGUARD CHARLOTTE FDS	92203J407	5,263	$254,308	0.10%
96	DIMENSIONAL ETF TRUST	25434V849	5,267	$253,711	0.10%
97	VANGUARD BD INDEX FDS	92203C303	4,998	$249,075	0.10%
98	DIMENSIONAL ETF TRUST	25434V773	7,425	$244,580	0.09%
99	PEPSICO INC	PEP	1,678	$240,827	0.09%
100	ISHARES TR	46436E833	10,569	$236,376	0.09%
101	ISHARES TR	46436E858	10,306	$235,750	0.09%
102	FIRST INDL RLTY TR INC	32054K103	4,093	$234,406	0.09%
103	ISHARES TR	46436E486	10,905	$230,641	0.09%
104	ISHARES TR	46436E593	11,419	$226,610	0.09%
105	UNITED CMNTY BKS BLAIRSVLE G	UNTCW	7,059	$220,382	0.09%
106	CARVANA CO	CVNA	475	$200,460	0.08%
107	AMERICOLD REALTY TRUST INC	COLD	13,194	$169,675	0.07%
108	PIEDMONT REALTY TRUST INC	PDM	12,816	$106,885	0.04%
109	ADVISORSHARES TR	00768Y529	14,443	$93,013	0.04%