Growth Fund

Overview

Objective Seeks capital appreciation.
Strategy Primarily focuses on the stocks of companies that have shown and are expected to show above-average growth in earnings.
The Management Team The Fund is managed by the Equity Strategy Team, a group of senior-level investment professionals who average 38 years of experience.
Risk/Return On a low to high scale of 1–7, the risk level is 5
In general, greater returns are associated with greater risks.
 
 

Fund Statistics

Inception Date 12/12/94
Ticker Symbol CFGRX
Cusip 200626406
Minimum Initial Investment $1,000
 

Commentary

Growth equities posted modest gains in the third quarter, although market leadership became increasingly concentrated in large-cap technology and artificial intelligence-related companies. Continued strength in AI investment and expectations for robust corporate earnings supported Information Technology and Communication Services. Rising Treasury yields, persistent inflation, and a more restrictive Federal Reserve outlook created valuation headwinds for longer-duration growth companies and contributed to growth equities modest returns. Energy was also a notable outperformer as higher oil prices supported the sector, while Utilities, Industrials, and Real Estate lagged. The Commerce Growth Fund’s return of 3.78% outperformed the Russell 1000 Growth Index’s return of 0.92%.

Stock selection added to the Fund’s performance for the quarter. The Fund’s strongest performers were owning Microsoft Corporation (8.87%) and not owning Applied Materials, Inc. (0.00%) and Lam Research Corporation (0.00%), returning 37.76%, -29.19%, and -24.11%, respectively. The Fund’s top detractors were not owning Palantir Technologies Inc, (0.00%) and owning Jabil Inc. (0.59%) and C.H. Robinson Worldwide, Inc. (0.74%), returning 60.32%, -25.57%, and -21.10%, respectively.

The Fund’s sector allocation added to performance for the quarter. The Fund’s 0.76% underweight position in the Industrials sector added to performance as it was a weaker sector, returning -16.79%. The index had an 8.12% weight in the Industrials sector. However, the Fund’s 2.54% overweight position in the Consumer Discretionary sector detracted from performance as it was a weaker sector, returning -11.15%. The index had a 7.79% weight in the Consumer Discretionary sector.

 
 
Total Fund Assets as of 9/30/2026 $185,084,654
Net Asset Value1 $51.56
Asset Allocation  
Equities 99.1%
Cash 0.9%
Weighted Average Market Capitalization $2,475.4 billion

Top 10 Equity Holdings2 as of 9/30/2026

NVIDIA Corporation 15.3%
Apple Inc 10.4%
Alphabet Inc. Class A 10%
Microsoft Corporation 9.1%
Broadcom Inc 4.6%
Meta Platforms Inc Class A 3.3%
Micron Technology 3.2%
Tesla Motors Inc 2.8%
Advanced Micro Devices Inc 2.5%
Eli Lilly and Company 2.2%
The Fund invests in mid-capitalization securities. The securities of mid-capitalization companies involve greater risks than those associated with larger, more established companies and may be subject to more abrupt or erratic price movements.
 
Holdings and allocations shown are unaudited, and may not be representative of current or future investments. Holdings and allocations may not include the Fund's entire investment portfolio, which may change at any time. Fund holdings should not be relied on in making investment decisions and should not be construed as research or investment advice regarding particular securities.

Commerce Growth Holdings  

Footnotes:

  1. The Net Asset Value represents the assets of the fund (ex dividend) by the total number of shares.
  2. The composition of the portfolio is subject to change in the future.
  3. The Russell 1000 Growth Index is an unmanaged index that measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values. The Index figures do not reflect any fees or expenses.
  4. Please click on the links for additional disclosures.