# EDGAR Filing Document

**Accession Number:** 0000926243
**File Stem:** 0001410368-26-063617
**Filing Date:** 2026-6
**Character Count:** 49352
**Document Hash:** 56765ec58be965e12cdfb9209a44522d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-063617.hdr.sgml**: 20260622

**ACCESSION NUMBER**: 0001410368-26-063617

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260622

**DATE AS OF CHANGE**: 20260622

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COMMERCE FUNDS
- **CENTRAL INDEX KEY:** 0000926243

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08598
- **FILM NUMBER:** 261106598

**BUSINESS ADDRESS:**
- **STREET 1:** 1000 WALNUT ST
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64121
- **BUSINESS PHONE:** 8006212550

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 219525
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64121

## Series and Classes Contracts Data

### The Kansas Tax-Free Intermediate Bond Fund (Series ID: S000010024)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000027717 | Shares       | KTXIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** COMMERCE FUNDS

- **b. Investment Company Act file number:** 811-08598

- **c. CIK number of Registrant:** 0000926243

- **d. LEI of Registrant:** 5493008VDCPHK1O3IK55

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1000 Walnut Street, Suite 1580

  - **City:** KANSAS CITY

  - **State:** MO

  - **Foreign country:** US

  - **Zip / Postal Code:** 64106-1809

  - **Telephone number:** 1-800-995-6365

**Item A.2. Information about the Series.**

- **a. Name of Series:** The Kansas Tax-Free Intermediate Bond Fund

- **b. EDGAR series identifier (if any):** S000010024

- **c. LEI of Series:** 549300XK7EN5JTLI4M43

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $101527184.26

**Total Liabilities:** $358437.69

**Net Assets:** $101168746.57

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -215.81000000 | **1-Year:** -3811.01000000 | **5-Year:** -17931.76000000 | **10-Year:** -29618.73000000 | **30-Year:** -2705.49000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -1.08000000 | **1-Year:** -49.29000000 | **5-Year:** -192.40000000 | **10-Year:** -742.18000000 | **30-Year:** -79.82000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000027717 | 1.03%                | -2.33%               | 0.99%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $58401.77                | $797148.68                                 |
| Month 2  | $-76477.30               | $-2688186.11                               |
| Month 3  | $0.00                    | $779579.59                                 |

### Schedule of Portfolio Investments

| Name                                                                   | Title                                                       | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Douglas County Unified School District No 348 Baldwin City             | DOUGLAS CNTY KS UNIF SCH DIST#348                           | CUSIP: 259133JA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1354041.73   | 1.34%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washburn University/Topeka KS                                          | WASHBURN UNIV KS                                            | CUSIP: 937220GN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $570421.90    | 0.56%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Blue Valley Recreation Commission                                      | BLUE VLY KS RECREATION COMMISSION COPS                      | CUSIP: 096079HC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $787067.15    | 0.78%             | 2037-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jefferson County Unified School District No 343 Perry                  | JEFFERSON CNTY KS UNIF SCH DIST #343                        | CUSIP: 472898ES0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $640761.56    | 0.63%             | 2033-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Johnson County Unified School District No 231 Gardner - Edgerton       | JOHNSON CNTY KS UNIF SCH DIST#231                           | CUSIP: 478710XX9<br>LEI: 5493003GXPNLX2PTBN47 | Long             | DBT              | MUN               | US        |    750000 | PA      | $822027.38    | 0.81%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Whitestown Redevelopment Authority                                     | WHITESTOWN IN REDEV AUTH LEASE RENTAL REVENUE               | CUSIP: 966100EC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1524247.81   | 1.51%             | 2031-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Indianapolis Local Public Improvement Bond Bank                        | INDIANAPOLIS IN LOCAL PUBLIC IMPT BOND BANK                 | CUSIP: 45528U7G0<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1877968.93   | 1.86%             | 2043-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Northwestern School Building Corp                                      | N WSTRN IN SCH BLDG CORP                                    | CUSIP: 668265EL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $675808.32    | 0.67%             | 2037-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                    | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE               | CUSIP: 97712JGL1<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    500000 | PA      | $545439.65    | 0.54%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Shawnee County Unified School District No 437 Auburn - Washburn        | SHAWNEE CNTY KS UNIF SCH DIST#437 AUBURN                    | CUSIP: 820642UA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1520674.40   | 1.50%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Goddard KS                                                     | GODDARD KS                                                  | CUSIP: 380270VX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    670000 | PA      | $683277.52    | 0.68%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Jefferson County Unified School District No 343 Perry                  | JEFFERSON CNTY KS UNIF SCH DIST #343                        | CUSIP: 472898ET8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $676722.44    | 0.67%             | 2034-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Kansas Development Finance Authority                                   | KANSAS ST DEV FIN AUTH REVENUE                              | CUSIP: 4854292N3<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001061.00   | 1.98%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Topeka KS Combined Utility Revenue                             | TOPEKA KS UTILITY REVENUE                                   | CUSIP: 890680SG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $625836.06    | 0.62%             | 2032-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| County of Shawnee KS                                                   | SHAWNEE CNTY KS COPS                                        | CUSIP: 820552JC2<br>LEI: 5493007F3P7G61QTP515 | Long             | DBT              | MUN               | US        |    485000 | PA      | $486335.59    | 0.48%             | 2030-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sabine-Neches Navigation District                                      | SABINE-NECHES NAV DIST TX                                   | CUSIP: 78532EAR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $538072.70    | 0.53%             | 2039-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Atchison County Unified School District No 409                         | ATCHISON CNTY KS UNIF SCH DIST #409                         | CUSIP: 046627GF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $996405.63    | 0.98%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Marion County Unified School District No 410 Durham Etc                | MARION CNTY KS UNIF SCH DIST #410 DURHAM ETC                | CUSIP: 569065EC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $483119.27    | 0.48%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Blue Valley Recreation Commission                                      | BLUE VLY KS RECREATION COMMISSION COPS                      | CUSIP: 096079HD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    745000 | PA      | $826791.39    | 0.82%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harvey County Unified School District 440 Halstead-Bentley             | HARVEY CNTY KS UNIF SCH DIST #440 HALSTEAD                  | CUSIP: 417632DL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $992923.77    | 0.98%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lawrence KS                                                    | LAWRENCE KS HOSP REVENUE                                    | CUSIP: 520134FS1<br>LEI: 5493004LLF0HG6XS2E46 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1335130.43   | 1.32%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arkansas City Public Building Commission                               | ARKANSAS CITY KS PUBLIC BLDG COMMISSION REVENUE             | CUSIP: 040821AW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $613886.36    | 0.61%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wyandotte County Unified School District No 203 Piper                  | WYANDOTTE CNTY KS SCH DIST #203                             | CUSIP: 982685JV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $565179.30    | 0.56%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Kansas Hospital Authority                                | UNIV OF KANSAS KS HOSP AUTH HLTH FACS REVENUE               | CUSIP: 914367FX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1930000 | PA      | $1947939.35   | 1.93%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Blue Valley Recreation Commission                                      | BLUE VLY KS RECREATION COMMISSION COPS                      | CUSIP: 096079HE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $860696.62    | 0.85%             | 2039-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bourbon County Unified School District No 234-Fort Scott               | BOURBON CNTY KS UNIF SCH DIST #234 LEASE PURAGREEMENT COPS  | CUSIP: 10182PAN3<br>LEI: 549300D8KR7613JGTD47 | Long             | DBT              | MUN               | US        |    830000 | PA      | $835492.86    | 0.83%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Carmel Local Public Improvement Bond Bank                              | CARMEL IN LOCAL PUBLIC IMPT BOND BANK                       | CUSIP: 143287GK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $442976.60    | 0.44%             | 2035-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Harvey County Unified School District 440 Halstead-Bentley             | HARVEY CNTY KS UNIF SCH DIST #440 HALSTEAD                  | CUSIP: 417632DM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $545493.55    | 0.54%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Osage KS                                                     | OSAGE CNTY KS                                               | CUSIP: 687635DL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $502292.69    | 0.50%             | 2041-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Marion County Unified School District No 410 Durham Etc                | MARION CNTY KS UNIF SCH DIST #410 DURHAM ETC                | CUSIP: 569065DZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $774104.10    | 0.77%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harvey County Unified School District 440 Halstead-Bentley             | HARVEY CNTY KS UNIF SCH DIST #440 HALSTEAD                  | CUSIP: 417632DS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1495000 | PA      | $1564424.06   | 1.55%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami County Unified School District No 416 Louisburg                  | MIAMI CNTY KS UNIF SCH DIST #416                            | CUSIP: 593312HV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $336542.25    | 0.33%             | 2040-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Arkansas City Public Building Commission                               | ARKANSAS CITY KS PUBLIC BLDG COMMISSION REVENUE             | CUSIP: 040821AV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $575846.99    | 0.57%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sabine-Neches Navigation District                                      | SABINE-NECHES NAV DIST TX                                   | CUSIP: 78532EAQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $539876.30    | 0.53%             | 2038-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Osage KS                                                     | OSAGE CNTY KS                                               | CUSIP: 687635DK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $308151.06    | 0.30%             | 2038-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Goddard KS                                                     | GODDARD KS                                                  | CUSIP: 380270VY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $703148.11    | 0.70%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dickinson County Unified School District No 435 Abilene                | DICKINSON CNTY KS UNIF SCH DIST #435                        | CUSIP: 253170EZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $348082.76    | 0.34%             | 2032-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Butler County Unified School District No 402 Augusta                   | BUTLER CNTY KS UNIF SCH DIST #402                           | CUSIP: 123439KF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $223893.46    | 0.22%             | 2036-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Crawford County Unified School District No 250 Pittsburg               | CRAWFORD CNTY KS UNIF SCH DIST #250                         | CUSIP: 224856FT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $756720.68    | 0.75%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Bel Aire KS                                                    | BEL AIRE KS                                                 | CUSIP: 0773246C0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $519627.68    | 0.51%             | 2040-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chisholm Creek Utility Authority                                       | CHISHOLM CREEK KS UTILITY AUTH WTR & WSTWTR FACS REVENUE    | CUSIP: 170123DY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1121456.50   | 1.11%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sedgwick County Unified School District No 261 Haysville               | SEDGWICK CNTY KS UNIF SCH DIST #261                         | CUSIP: 815645PH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $972834.76    | 0.96%             | 2032-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Cowley County Unified School District No 470 Arkansas City             | COWLEY CNTY KS UNIF SCH DIST #470 ARKANSAS CITY             | CUSIP: 223760HA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $999347.27    | 0.99%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cowley County Unified School District No 470 Arkansas City             | COWLEY CNTY KS UNIF SCH DIST #470 ARKANSAS CITY             | CUSIP: 223760HC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $943215.59    | 0.93%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harvey County Unified School District No 373 Newton                    | HARVEY CNTY KS UNIF SCH DIST #373 NEWTON                    | CUSIP: 417622JB4<br>LEI: 549300EVPSOR8ERAEL53 | Long             | DBT              | MUN               | US        |    450000 | PA      | $468118.67    | 0.46%             | 2032-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Miami County Unified School District No 367 Osawatomie                 | MIAMI CNTY KS UNIF SCH DIST #367                            | CUSIP: 593286JP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $547948.00    | 0.54%             | 2039-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Shawnee KS                                                   | SHAWNEE CNTY KS PUBLIC BLDG COMMISSION REVENUE              | CUSIP: 820561AL2<br>LEI: 5493007F3P7G61QTP515 | Long             | DBT              | MUN               | US        |    300000 | PA      | $304436.97    | 0.30%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Osage KS                                                     | OSAGE CNTY KS                                               | CUSIP: 687635DJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $523529.61    | 0.52%             | 2036-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Wyandotte County-Kansas City Unified Government Utility System Revenue | WYANDOTTE CNTY/KANSAS CITY KS UNIF GOVT UTILITY SYS REVENUE | CUSIP: 982674KA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000001.80   | 0.99%             | 2039-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| City of Valley Center KS                                               | VLY CENTER KS                                               | CUSIP: 919443YR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $586632.20    | 0.58%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami County Unified School District No 416 Louisburg                  | MIAMI CNTY KS UNIF SCH DIST #416                            | CUSIP: 593312HW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $280088.42    | 0.28%             | 2041-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Johnson County Unified School District No 229 Blue Valley              | JOHNSON CNTY KS UNIF SCH DIST#229                           | CUSIP: 4787006N2<br>LEI: 5493003GXPNLX2PTBN47 | Long             | DBT              | MUN               | US        |   2390000 | PA      | $2675851.17   | 2.64%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Abilene Public Building Commission                                     | ABILENE KS PUBLIC BLDG COMMISSION REVENUE                   | CUSIP: 003430BK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $610519.14    | 0.60%             | 2029-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Shawnee KS                                                   | SHAWNEE CNTY KS COPS                                        | CUSIP: 820552JE8<br>LEI: 5493007F3P7G61QTP515 | Long             | DBT              | MUN               | US        |   1065000 | PA      | $1066806.77   | 1.05%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                   | CUSIP: 041807EZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $683904.44    | 0.68%             | 2038-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Logan KS                                                     | LOGAN CNTY KS                                               | CUSIP: 540737AZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $795005.33    | 0.79%             | 2037-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Finney County Unified School District No 457 Garden City               | FINNEY CNTY KS UNIF SCH DIST #457                           | CUSIP: 318045NF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1536035.54   | 1.52%             | 2030-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Jefferson County Unified School District No 343 Perry                  | JEFFERSON CNTY KS UNIF SCH DIST #343                        | CUSIP: 472898EU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $712633.97    | 0.70%             | 2035-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Frankfort Redevelopment Authority                                      | FRANKFORT IN REDEV AUTH LEASE RENT REVENUE                  | CUSIP: 352207AV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1608151.80   | 1.59%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Wichita KS                                                     | WICHITA KS MF HSG REVENUE                                   | CUSIP: 967276GD2<br>LEI: 549300Y20JVN3VP2V718 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2005575.00   | 1.98%             | 2030-02-01      | Floating      | 3.15%                 | No            |                  2 | On Loan: No      |
| City of Elyria OH                                                      | ELYRIA OH LIBRARY IMPT REVENUE                              | CUSIP: 290674AT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $976845.00    | 0.97%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Jefferson County Unified School District No 343 Perry                  | JEFFERSON CNTY KS UNIF SCH DIST #343                        | CUSIP: 472898EX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $539541.80    | 0.53%             | 2038-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Dickson County Public Building Commission                              | DICKINSON CNTY KS PUBLIC BLDG COMMISSION REVENUE            | CUSIP: 253166BA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024308.70   | 1.01%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Bel Aire KS                                                    | BEL AIRE KS                                                 | CUSIP: 0773246D8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $535788.34    | 0.53%             | 2041-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Johnson & Miami Counties Unified School District No 230 Spring Hills   | JOHNSON & MIAMI CNTYS KS UNIF SCH DIST #230                 | CUSIP: 478164HK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001804.30   | 0.99%             | 2033-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Wichita KS                                                     | WICHITA KS SALES TAX SPL OBLIG REVENUE                      | CUSIP: 967323AU0<br>LEI: 549300Y20JVN3VP2V718 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024175.30   | 1.01%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Goddard KS                                                     | GODDARD KS                                                  | CUSIP: 380270VW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $580631.74    | 0.57%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Shawnee County Unified School District No 437 Auburn - Washburn        | SHAWNEE CNTY KS UNIF SCH DIST#437 AUBURN                    | CUSIP: 820642UM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $843656.93    | 0.83%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Marion County Unified School District No 410 Durham Etc                | MARION CNTY KS UNIF SCH DIST #410 DURHAM ETC                | CUSIP: 569065EB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    880000 | PA      | $967361.74    | 0.96%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Valley Center KS                                               | VLY CENTER KS                                               | CUSIP: 919443YQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $555756.25    | 0.55%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Douglas County Unified School District No 491 Eudora                   | DOUGLAS CNTY KS UNIF SCH DIST#491 EUDORA                    | CUSIP: 259137LH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1785000 | PA      | $1908065.04   | 1.89%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jefferson County Unified School District No 343 Perry                  | JEFFERSON CNTY KS UNIF SCH DIST #343                        | CUSIP: 472898EY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057253.30   | 1.05%             | 2043-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Kansas Development Finance Authority                                   | KANSAS ST DEV FIN AUTH REVENUE                              | CUSIP: 48542RXP4<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |   1470000 | PA      | $1499517.31   | 1.48%             | 2034-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Shawnee County Unified School District No 437 Auburn - Washburn        | SHAWNEE CNTY KS UNIF SCH DIST#437 AUBURN                    | CUSIP: 820642UL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1126922.20   | 1.11%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Johnson County Unified School District No 512 Shawnee Mission          | JOHNSON CNTY KS UNIF SCH DIST#512 SHAWNEE MISSION           | CUSIP: 478740WZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1630384.80   | 1.61%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cowley County Unified School District No 470 Arkansas City             | COWLEY CNTY KS UNIF SCH DIST #470 ARKANSAS CITY             | CUSIP: 223760HB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $948228.21    | 0.94%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arkansas City Public Building Commission                               | ARKANSAS CITY KS PUBLIC BLDG COMMISSION REVENUE             | CUSIP: 040821AX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $439758.69    | 0.43%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minneola Unified School District No 219                                | CLARK CNTY KS UNIF SCH DIST #219 MINNEOLA                   | CUSIP: 180747BT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1434708.92   | 1.42%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Abilene Public Building Commission                                     | ABILENE KS PUBLIC BLDG COMMISSION REVENUE                   | CUSIP: 003430BL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $660827.70    | 0.65%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Valley Center KS                                               | VLY CENTER KS                                               | CUSIP: 919443YS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $606054.85    | 0.60%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sedgwick County Unified School District No 261 Haysville               | SEDGWICK CNTY KS UNIF SCH DIST #261                         | CUSIP: 815645QM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2170000 | PA      | $2412853.16   | 2.38%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Wichita KS                                                     | WICHITA KS                                                  | CUSIP: 967245DF5<br>LEI: 549300Y20JVN3VP2V718 | Long             | DBT              | MUN               | US        |   2365000 | PA      | $2367846.28   | 2.34%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Douglas County Unified School District No 348 Baldwin City             | DOUGLAS CNTY KS UNIF SCH DIST#348                           | CUSIP: 259133HZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1296966.63   | 1.28%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Butler County Unified School District No 402 Augusta                   | BUTLER CNTY KS UNIF SCH DIST #402                           | CUSIP: 123439KH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $459641.63    | 0.45%             | 2038-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Andover KS                                                     | ANDOVER KS                                                  | CUSIP: 0342806E2<br>LEI: 5493003IFR1G5MTKQ255 | Long             | DBT              | MUN               | US        |    635000 | PA      | $650485.62    | 0.64%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Geary County Public Building Commission                                | GEARY CNTY KS PUBLIC BLDG COMMISSION                        | CUSIP: 368338GL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014006.50   | 1.00%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harvey County Unified School District No 373 Newton                    | HARVEY CNTY KS UNIF SCH DIST #373 NEWTON                    | CUSIP: 417622JA6<br>LEI: 549300EVPSOR8ERAEL53 | Long             | DBT              | MUN               | US        |    430000 | PA      | $450364.20    | 0.45%             | 2031-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Butler County Unified School District No 402 Augusta                   | BUTLER CNTY KS UNIF SCH DIST #402                           | CUSIP: 123439KE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $225982.94    | 0.22%             | 2035-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City Of Martinsville Indiana Government Facility Building Corp         | MARTINSVILLE IN GOVT FAC BLDG CORP LEASE RENTAL REVENUE     | CUSIP: 57369RDL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $530935.15    | 0.52%             | 2042-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Kansas Department of Transportation                           | KANSAS ST DEPT OF TRANSPRTN HIGHWAY REVENUE                 | CUSIP: 485424RK3<br>LEI: 5493001635XK841MIO47 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1286783.88   | 1.27%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami County Unified School District No 416 Louisburg                  | MIAMI CNTY KS UNIF SCH DIST #416                            | CUSIP: 593312HU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $179282.98    | 0.18%             | 2039-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Wyandotte County-Kansas City Unified Government Utility System Revenue | WYANDOTTE CNTY/KANSAS CITY KS UNIF GOVT UTILITY SYS REVENUE | CUSIP: 982674JM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003522.90   | 0.99%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Andover KS                                                     | ANDOVER KS                                                  | CUSIP: 0342806F9<br>LEI: 5493003IFR1G5MTKQ255 | Long             | DBT              | MUN               | US        |    655000 | PA      | $668198.71    | 0.66%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Lawrence KS                                                    | LAWRENCE KS HOSP REVENUE                                    | CUSIP: 520134FW2<br>LEI: 5493004LLF0HG6XS2E46 | Long             | DBT              | MUN               | US        |   1715000 | PA      | $1774542.91   | 1.75%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washburn University/Topeka KS                                          | WASHBURN UNIV KS                                            | CUSIP: 937220JN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1294583.02   | 1.28%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Butler County Unified School District No 402 Augusta                   | BUTLER CNTY KS UNIF SCH DIST #402                           | CUSIP: 123439KG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $316956.94    | 0.31%             | 2037-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Wabaunsee County Unified School District No 330 Mission Valley         | WABAUNSEE CNTY KS UNIF SCH DIST #330                        | CUSIP: 92972MCD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1080633.00   | 1.07%             | 2042-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| State Street Institutional US Government Money Market Fund             | State Street Institutional US Government Money Market Fund  | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | EC               | RF                | US        |   4195681 | NS      | $4195680.84   | 4.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Nemaha County Unified School District No 115                           | NEMAHA CNTY KS UNIF SCH DIST #115                           | CUSIP: 64043RBC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $787263.68    | 0.78%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Johnson County Unified School District No 512 Shawnee Mission          | JOHNSON CNTY KS UNIF SCH DIST#512 SHAWNEE MISSION           | CUSIP: 478740XA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $847853.38    | 0.84%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northwestern School Building Corp                                      | N WSTRN IN SCH BLDG CORP                                    | CUSIP: 668265EK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $621941.32    | 0.61%             | 2036-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Butler County Unified School District No 385 Andover                   | BUTLER CNTY KS UNIF SCH DIST #385 ANDOVER                   | CUSIP: 12343ECS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506928.25    | 0.50%             | 2031-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chisholm Creek Utility Authority                                       | CHISHOLM CREEK KS UTILITY AUTH WTR & WSTWTR FACS REVENUE    | CUSIP: 170123DZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1115913.20   | 1.10%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Olathe KS Water & Sewer System Revenue                         | OLATHE KS WTR & SWR SYS REVENUE                             | CUSIP: 679468M70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2035000 | PA      | $2085666.01   | 2.06%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lyon County Unified School District No 253 Emporia                     | LYON CNTY KS UNIF SCH DIST #253 EMPORIA                     | CUSIP: 551845GQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1059568.44   | 1.05%             | 2033-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City Of Martinsville Indiana Government Facility Building Corp         | MARTINSVILLE IN GOVT FAC BLDG CORP LEASE RENTAL REVENUE     | CUSIP: 57369RDK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $541247.00    | 0.53%             | 2037-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-14

**Name of Applicant:** COMMERCE FUNDS

**Signature:** Bill Schuetter

**Name of Signer:** Bill Schuetter

**Title:** President