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COMMERCE FUNDS
fund voting report
- Vote records reported
- 3,462year to 30 June 2026
- Against management
- 3.6%124 of 3,455 marked votes
- Say-on-pay support
- 88.8%for, of for + against + abstain
- Shareholder-proposal support
- 25.0%for, of for + against + abstain
foragainstabstain, withhold or otheramber tick: the portion cast against management
COMMERCE FUNDS reported 3,462 vote records for the year to 30 June 2026. It marked 3.6% of its votes as cast against management (124 of 3,455), 2.6 percentage points below the median fund registrant, which was 6.2%.
Weighted by the number of shares voted, the against-management share is 4.0%. The two figures differ when the votes against management fall on larger or smaller holdings than the rest.
On pay and on shareholder proposals: it voted for 88.8% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 25.0% of the proposals put forward by security holders (the median fund registrant: 27.5%).
By category, votes against management were most frequent in CORPORATE GOVERNANCE (32.2% of 146), CAPITAL STRUCTURE (16.7% of 54) and OTHER SOCIAL ISSUES (15.8% of 57).
Compared with other filers
Each rate is defined once, in the methodology. The median is taken over 1,241 fund registrants with at least 25 vote records in the season.
| year to 30 June 2026 | This filer | Median fund registrant | All filers pooled |
|---|---|---|---|
| Against-management share | 3.6% | 6.2% | 10.6% |
| Say-on-pay support rate | 88.8% | 91.6% | 86.0% |
| Shareholder-proposal support rate | 25.0% | 27.5% | 33.9% |
| Shares on loan, share of shares held | 0.00% | 0.00% | 3.12% |
| Largest families, year to 30 June 2026 | Against management | Say-on-pay support | Shareholder-proposal support |
|---|---|---|---|
| Vanguard | 20.1% | 94.1% | 42.0% |
| BlackRock and iShares | 7.5% | 88.3% | 11.9% |
| Fidelity | 6.0% | 94.7% | 27.6% |
| Dimensional | 16.4% | 78.9% | 57.4% |
| State Street and SPDR | 16.9% | 77.1% | 50.4% |
Votes by category
Filers choose one or more categories for each vote, so a vote can appear in more than one row. Category names are printed as Form N-PX defines them.
| Category (as the form names it) | Votes | For | Against | Against management | Split |
|---|---|---|---|---|---|
| DIRECTOR ELECTIONS | 2,519 | 2,505 | 7 | 0.5% | |
| SECTION 14A SAY-ON-PAY VOTES | 267 | 230 | 29 | 11.6% | |
| AUDIT-RELATED | 268 | 268 | 0 | 0.0% | |
| INVESTMENT COMPANY MATTERS | 1 | 0 | 1 | 100.0% | |
| SHAREHOLDER RIGHTS AND DEFENSES | 20 | 16 | 4 | 52.6% | |
| EXTRAORDINARY TRANSACTIONS | 5 | 4 | 1 | 20.0% | |
| CAPITAL STRUCTURE | 54 | 44 | 10 | 16.7% | |
| COMPENSATION | 70 | 62 | 8 | 7.1% | |
| CORPORATE GOVERNANCE | 147 | 81 | 65 | 32.2% | |
| ENVIRONMENT OR CLIMATE | 39 | 1 | 38 | 2.6% | |
| HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE | 29 | 3 | 26 | 7.1% | |
| DIVERSITY, EQUITY, AND INCLUSION | 4 | 2 | 2 | 50.0% | |
| OTHER SOCIAL ISSUES | 57 | 10 | 47 | 15.8% | |
| OTHER | 18 | 9 | 9 | 27.8% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support | Split |
|---|---|---|---|---|---|
| year to 30 June 2024 | 3,545 | 4.2% | 90.8% | 24.2% | |
| year to 30 June 2025 | 3,619 | 3.4% | 90.5% | 28.9% | |
| year to 30 June 2026 | 3,462 | 3.6% | 88.8% | 25.0% |
Say-on-pay votes against management
Counting one say-on-pay item per company meeting, COMMERCE FUNDS voted against management on 24 of the 212 it marked either way (11.3%) in the year to 30 June 2026.
- Alphabet Inc. 5 Jun 2026
- Broadcom Inc. 20 Apr 2026
- Costco Wholesale Corporation 15 Jan 2026
- Tesla, Inc. 6 Nov 2025
- Wells Fargo & Company 28 Apr 2026
- Comcast Corporation 10 Jun 2026
- Palo Alto Networks, Inc. 9 Dec 2025
- BlackRock, Inc. 20 May 2026
- Prologis, Inc. 28 Apr 2026
- The Bank of New York Mellon Corporation 14 Apr 2026
- Cloudflare, Inc. 30 Jun 2026
- Axon Enterprise, Inc. 28 May 2026
- HEICO Corporation 13 Mar 2026
- Roblox Corporation 28 May 2026
- Zscaler, Inc. 12 Jan 2026
- Tyson Foods, Inc. 5 Feb 2026
- Skyworks Solutions, Inc. 13 May 2026
- Corpay, Inc. 7 May 2026
- SS&C Technologies Holdings, Inc. 20 May 2026
- Exelixis, Inc. 26 May 2026
- Tradeweb Markets Inc. 19 May 2026
- The Timken Company 8 May 2026
- Wyndham Hotels & Resorts, Inc. 14 May 2026
- SharkNinja, Inc. 18 Jun 2026
Shareholder proposals it supported
Of 177 proposals from security holders that could be told apart in the filings and on which it cast a vote, COMMERCE FUNDS voted for 48 (27.1%). The 40 at the companies with the most reporting filers are listed. Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.
| Company | Meeting | Proposal |
|---|---|---|
| Microsoft Corporation | 5 Dec 2025 | Report on Al Data Usage Oversight |
| NVIDIA Corporation | 24 Jun 2026 | Approval of a non-binding stockholder proposal requesting the replacement of supermajority voting... |
| Alphabet Inc. | 5 Jun 2026 | Shareholder proposal regarding a report on AI data usage oversight |
| Alphabet Inc. | 5 Jun 2026 | Shareholder proposal regarding a report on AI-generated misinformation |
| Alphabet Inc. | 5 Jun 2026 | Shareholder proposal regarding equal shareholder voting |
| Netflix, Inc. | 4 Jun 2026 | Stockholder proposal entitled, "Proposal 4 - Shareholder Right to Act by Written Consent," |
| Walmart Inc. | 4 Jun 2026 | Report on Immigration Policy & Enforcement |
| Berkshire Hathaway Inc. | 2 May 2026 | Shareholder proposal requesting that the Company issue a report disclosing the Board's oversight framework... |
| Tesla, Inc. | 6 Nov 2025 | A shareholder proposal to amend the bylaws to repeal 3% derivative suit ownership threshold. |
| Tesla, Inc. | 6 Nov 2025 | A shareholder proposal to amend Article X of the bylaws. |
| Tesla, Inc. | 6 Nov 2025 | A shareholder proposal to seek shareholder approval before adopting an amendment to the bylaws pursuant to... |
| Tesla, Inc. | 6 Nov 2025 | Declassify the Board of Directors |
| Tesla, Inc. | 6 Nov 2025 | Shareholder proposal: CORPORATE GOVERNANCE |
| McDonald's Corporation | 20 May 2026 | Advisory Vote on Shareholders' Right to Act by Written Consent. |
| Texas Instruments Incorporated | 16 Apr 2026 | Stockholder proposal to permit stockholders to act by written consent. |
| Palo Alto Networks, Inc. | 9 Dec 2025 | To consider and vote upon a shareholder proposal, if properly presented at the Annual Meeting, regarding... |
| Analog Devices, Inc. | 11 Mar 2026 | To consider a shareholder proposal |
| Meta Platforms, Inc. | 27 May 2026 | A shareholder proposal regarding annual vote regarding executive pay. |
| Meta Platforms, Inc. | 27 May 2026 | Shareholder Proposal Regarding Data Protection Impact Assessment |
| Meta Platforms, Inc. | 27 May 2026 | Shareholder proposal: OTHER SOCIAL ISSUES |
| Meta Platforms, Inc. | 27 May 2026 | A shareholder proposal regarding disclosure of voting results by share class. |
| Meta Platforms, Inc. | 27 May 2026 | A shareholder proposal regarding dual class capital structure. |
| Meta Platforms, Inc. | 27 May 2026 | A shareholder proposal regarding report on Al data usage oversight. |
| Illinois Tool Works Inc. | 8 May 2026 | Corporate governance |
| L3Harris Technologies, Inc. | 11 May 2026 | Shareholder Proposal titled "Improve Shareholder Ability to Call for a Special Shareholder Meeting". |
| Yum! Brands, Inc. | 14 May 2026 | Shareholder Proposal to Reduce the Percentage of Shares Required to Call a Special Meeting. |
| IDEXX Laboratories, Inc. | 12 May 2026 | Shareholder Proposal to Give Shareholders the Ability to Call for a Special Shareholder Meeting (Proposal... |
| Fastenal Company | 23 Apr 2026 | Shareholder proposal relating to an EEO-1 reporting disclosure policy |
| CBRE Group, Inc. | 21 May 2026 | Stockholder proposal regarding our stockholders' ability to call special stockholder meetings. |
| Datadog, Inc. | 15 Jun 2026 | The stockholder proposal, if properly presented at the Annual Meeting, requesting the adoption of a simple... |
| NRG Energy, Inc. | 30 Apr 2026 | To vote on a stockholder proposal to give shareholders the ability to call for a special shareholder meeting |
| Regions Financial Corporation | 6 May 2026 | Shareholder Proposal Relating to Special Shareholder Meeting. |
| Humana Inc. | 16 Apr 2026 | The stockholder proposal requesting shareholder approval requirement for excessive golden parachutes |
| NetApp, Inc. | 10 Sep 2025 | To approve a stockholder proposal regarding support for Special Shareholder Meeting Improvement. |
| Jabil Inc. | 22 Jan 2026 | Vote on a stockholder proposal requesting stockholder right to act by written consent. |
| Zscaler, Inc. | 12 Jan 2026 | To vote on a non-binding stockholder proposal requesting the declassification of our board of directors. |
| Tyson Foods, Inc. | 5 Feb 2026 | Shareholder proposal regarding disclosure of voting results based on class of shares. |
| Tyson Foods, Inc. | 5 Feb 2026 | Shareholder proposal regarding report on the anticipated impact of recent changes in US immigration... |
| Domino's Pizza, Inc. | 21 Apr 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| Markel Group Inc. | 20 May 2026 | Shareholder proposal for a report on the Company's strategies and action plans to mitigate material... |
Shares on loan
COMMERCE FUNDS reported no shares on loan for the year to 30 June 2026. Shares lent out at the record date cannot be voted by the lender, which is why Form N-PX asks for the figure. More on lending and votes.
Fund series in this filing
4 series reported votes. A vote record can list several series. Series with 500 or more vote records have their own page.
| Series | Vote records | Against management | Say-on-pay support | Shareholder-proposal support |
|---|---|---|---|---|
| THE MIDCAP VALUE FUND | 1,102 | 1.8% | 93.8% | 26.3% |
| THE VALUE FUND | 857 | 2.9% | 87.3% | 13.0% |
| THE MIDCAP GROWTH FUND | 831 | 5.2% | 85.3% | 68.4% |
| THE GROWTH FUND | 672 | 5.4% | 87.0% | 26.3% |
The filings
These figures are read from the filer's own Form N-PX. If a vote on this page looks wrong, the filing is the record: a dispute about a filed vote is a matter for the filer, and an error in how this site read the filing is a matter for corrections.
- N-PX filed 27 Aug 2026 accession 0001193125-26-371600
- Every N-PX filing by this filer on EDGAR
Questions
How did COMMERCE FUNDS vote on executive pay?
In the year to 30 June 2026 COMMERCE FUNDS reported 258 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 229 were for (88.8%), 29 against and 0 abstentions. Counting one item per company meeting, it voted against management on 24 of the 212 say-on-pay items it marked either way.
How often does COMMERCE FUNDS vote against management?
3.6% of the time in the year to 30 June 2026: 124 of the 3,455 votes it marked as for or against management. Form N-PX asks each filer to state, vote by vote, whether the vote was for or against management's recommendation; this figure counts those marks.
Did COMMERCE FUNDS support shareholder proposals on climate?
In the category ENVIRONMENT OR CLIMATE it reported 39 votes on proposals from security holders in the year to 30 June 2026 and voted for 1 of them (2.6%). Across every category it voted for 25.0% of security-holder proposals. Filers choose the category for each vote, so the same proposal can sit in different categories in different filings.
Is this the result of the meetings?
No. Form N-PX shows how this filer voted the shares it held. It does not show how other shareholders voted or whether a proposal was approved. Companies report certified results separately, on Form 8-K.
Where does the data come from?
From the Form N-PX filings of this filer on the SEC's EDGAR system, read as filed. The SEC does not verify the contents. Amended filings (N-PX/A) replace the filings they amend. Data on this page runs through 23 Sep 2026.
Provenance: SEC EDGAR, Form N-PX and N-PX/A filings by COMMERCE FUNDS (filer no. 926243), read as filed and not verified by the SEC. Amended filings replace the filings they amend. Filings read through 23 Sep 2026; page built 26 Sep 2026.