Home / Fund Information / Mutual Funds / Growth Fund

 

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 ico_risk_3
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 extended their rally in Q3 2025, buoyed by strong corporate earnings, a Federal Reserve (Fed) rate cut, and continued enthusiasm around artificial intelligence investment. While economic signals were mixed—slower job growth and rising inflation from tariff pass-throughs—investors remained focused on innovation and resilient consumer spending. The quarter saw large and mid-cap growth stocks climb steadily, supported by stimulative legislation in Congress with the passage of One Big Beautiful Bill, easing trade tensions, and a more accommodative monetary policy backdrop. Despite lingering policy uncertainty and a softening labor market, growth-oriented sectors led the charge, with technology and consumer discretionary stocks driving performance. The Commerce Growth Fund’s return of 7.56% underperformed the Russell 1000 Growth Index return of 10.51%.

Stock selection detracted from the Fund’s performance. The Fund’s strongest stocks were Amphenol Corporation Class A (0.94%), Performance Food Group Co (0.85%), and PTC Inc. (0.85%), returning 25.49%, 18.94%, and 17.80%, respectively. The Fund’s top detractors were Tradeweb Markets, Inc. Class A (0.00%), Fiserv, Inc. (0.00%), and GoDaddy, Inc. Class A (0.82%), returning -24.30%, -24.26%, and -24.01%, respectively.

The Fund’s sector allocation was negative for the Fund’s performance. The Fund’s 0.53% underweight in the Health Care sector, which returned 2.81%, added to performance as it was a weaker sector. The Index had a 6.66% weight in the Health Care sector. However, the Fund’s 1.51% overweight in the Energy sector, which returned -3.84%, detracted from performance as it was a weaker sector. The Index had a 0.29% weight in the Energy sector. 

 

 
 
Total Fund Assets as of 9/30/2025 $255,888,108
Net Asset Value1 $57.21
Asset Allocation  
Equities 99.4%
Cash 0.6%
Weighted Average Market Capitalization 1,805.7 billion

Top 10 Equity Holdings2 as of 6/30/2025

Microsoft Corporation 11.0%
NVIDIA Corporation 10.6%
Apple Inc 9.1%
Amazon.com Inc. 4.6%
Broadcom Inc 3.9%
Meta Platforms Inc 3.7%
iShares Russell 1000 Growth ETF 3.6%
Alphabet Inc Class A 3.5%
Tesla Motors Inc. 2.9%
Visa Inc Class A 1.8%
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.