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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 stocks faced increased volatility in Q1 2025 as inflation concerns and tariff discussions created uncertainty in the market. Sectors reliant on global supply chains, specifically technology and consumer discretionary, experienced the most pressure as potential higher costs weighed on profit expectations. While growth stocks began the quarter in a positive fashion, ongoing trade tensions and negative sentiment led to the sell-off in February and March. The Commerce Growth Fund’s return of -8.58% outperformed the Russell 1000 Growth Index return of -9.97%.

Stock selection added to the Fund’s performance. The Fund’s strongest stocks were Spotify Technology SA (0.93%), McKesson Corporation (0.95%), and Rollins, Inc. (0.87%), returning 22.94%, 18.22%, and 16.94%, respectively. The Fund’s top detractors were Deckers Outdoor Corporation (0.00%), Hyatt Hotels Corporation Class A (0.82%), and NetApp, Inc. (0.00%), returning -41.56%, -21.88%, and -20.41%, respectively.

The Fund’s sector allocation was positive for the Fund’s performance. The Fund’s 1.48% overweight in the Energy sector, which returned 11.93%, added to performance as it was the best performing sector. The Index had a 0.46% weight in the Energy sector. However, The Fund’s 0.40.50% underweight in the Consumer Staples sector, which returned 3.89%, detracted from performance as it was one of the stronger sectors. The Index had a 3.41% weight in the Consumer Staples sector.

 

 
 
Total Fund Assets as of 3/31/2025 $220,754,387
Net Asset Value1 $46.78
Asset Allocation  
Equities 99.6%
Cash 0.8%
Weighted Average Market Capitalization 1,209.9 billion

Top 10 Equity Holdings2 as of 3/31/2025

Apple Inc. 11.0%
Microsoft Corporation 9.0%
NVIDIA Corporation 7.8%
Amazon.com Inc. 5.3%
Alphabet Inc Class A 5.1%
iShares Russell 1000 Growth ETF 3.9%
Meta Platforms Inc. 3.8%
Broadcom Inc. 2.1%
Tesla Motors Inc. 2.1%
Eli Lilly and Company 2.0%
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.