| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ABBOTT LABS NT 6.15% 11/30/37 | 24,900 | 27,733 |
| ACE INA HOLDINGS NT 3.35% 5/3/26 | 66,256 | 64,500 |
| ALLEGHANY CORP NT 3.625% 5/15/30 | 46,396 | 48,508 |
| AMAZON.COM NT 1.65% 5/12/28 | 59,965 | 56,344 |
| AMER WATER CAP NT 3% 12/1/26 | 34,936 | 34,405 |
| ASCENSION HEALTH NT 3.945% 11/15/46 | 61,298 | 47,687 |
| AVALONBAY CMNTY NT 5% 2/15/33 | 59,483 | 60,911 |
| BANK OF AMERICA NT V/R 4/23/40 | 60,000 | 52,187 |
| BANK OF NY MELLON NT V/R 2/1/34 | 55,000 | 54,394 |
| BAPTIST HLTH FL NT 4.342% 11/15/41 | 35,280 | 30,085 |
| BLACKROCK NT 2.1% 2/25/32 | 45,071 | 47,455 |
| BP CAP MARKETS NT 4.234% 11/6/28 | 55,000 | 55,018 |
| BRISTOL MYERS NT 5.9% 11/15/33 | 49,884 | 53,603 |
| BURLINGTON NORTH NT 3.9% 8/1/46 | 29,760 | 23,960 |
| CINTAS CORPORATION NT 4% 5/1/32 | 54,969 | 53,157 |
| CONSUMERS ENERGY NT 3.95% 7/15/47 | 49,791 | 39,710 |
| CRVNA 2022-P3 CL A3 4.61% 11/10/27 | 22,022 | 22,020 |
| CUMMINS INC NT 2.6% 9/1/50 | 59,603 | 35,829 |
| DUKE ENERGY FL NT 2.538% 9/1/29 | 37,142 | 37,561 |
| DUKE ENERGY NT 4.2% 3/15/42 | 42,802 | 33,109 |
| EMERSON ELEC NT 2.75% 10/15/50 | 64,921 | 40,821 |
| ENTERPRISE PRODS NT 3.125% 7/31/29 | 55,351 | 57,356 |
| EXXON MOBIL CORP NT 2.61% 10/15/30 | 57,488 | 60,154 |
| FORDO 2022-C CL A3 4.48% 12/15/26 | 11,398 | 11,397 |
| GOLDMAN SACHS BK NT V/R 5/21/27 | 50,000 | 50,413 |
| GONZAGA UNIV NT 4.158% 4/1/46 | 15,000 | 11,488 |
| HAROT 2024-2 CL A2 5.48% 11/18/26 | 23,814 | 23,862 |
| HONEYWELL INTL NT 2.5% 11/1/26 | 56,660 | 58,664 |
| JOHNSON & JOHNSON NT 5.85% 7/15/38 | 35,111 | 38,168 |
| JPMORGAN CHASE NT V/R 1/23/29 | 55,000 | 53,875 |
| KENVUE INC NT 4.85% 5/22/32 | 59,930 | 60,722 |
| MASTERCARD INC NT 2.95% 6/1/29 | 59,917 | 57,645 |
| META PLATFORMS NT 5.4% 8/15/54 | 59,761 | 58,514 |
| MID-AMERICA APTS NT 2.75% 3/15/30 | 58,179 | 60,671 |
| MORGAN STANLEY NT V/R 1/23/30 | 59,526 | 59,915 |
| NATL RURAL UTIL FIN NT 5% 8/15/34 | 59,549 | 60,379 |
| NEVADA POWER NT 6.75% 7/1/37 | 53,420 | 44,606 |
| NORTHERN ST PWR NT 4.85% 8/15/40 | 34,051 | 27,768 |
| NORTHERN TRUST NT 1.95% 5/1/30 | 64,754 | 58,407 |
| NW NATURAL GAS NT 5.75% 3/15/33 | 49,890 | 50,509 |
| OKLAHOMA G&E CO NT 5.4% 1/15/33 | 60,797 | 61,996 |
| PEPSICO INC NT 5.25% 7/17/54 | 59,847 | 58,153 |
| PNC FINANCIAL SVCS NT 1.15% 8/13/26 | 34,934 | 33,816 |
| PPL ELECTRIC UTIL NT 3% 10/1/49 | 63,909 | 42,766 |
| PROGRESSIVE CORP NT 6.25% 12/1/32 | 59,773 | 60,591 |
| PUB SVC ELEC & GAS NT 5.5% 3/1/40 | 40,700 | 40,623 |
| REALTY INCOME NT 5.125% 4/15/35 | 59,023 | 60,071 |
| ROYAL BK OF CANADA NT V/R 4/27/26 | 65,000 | 65,127 |
| SHELL INTL FIN NT 3.125% 11/7/49 | 29,225 | 20,068 |
| STATE STREET CORP NT V/R 8/4/33 | 60,000 | 57,679 |
| STATOIL ASA NT 7.15% 11/15/25 | 53,195 | 50,461 |
| THE MET NT 3.4% 7/1/45 | 29,826 | 22,441 |
| TOYOTA MOTOR CREDIT NT 4.55% 8/9/29 | 59,878 | 60,481 |
| TRANS-CANADA PL NT 7.25% 8/15/38 | 32,055 | 28,315 |
| TRAVELERS COS INC NT 4.1% 3/4/49 | 49,812 | 40,269 |
| TRUIST FINANCIAL NT V/R 6/7/29 | 65,000 | 60,488 |
| UNILEVER CAPITAL NT 4.25% 8/12/27 | 54,853 | 55,238 |
| UNITED HEALTHCARE GP NT 5.8% 3/15/36 | 63,569 | 63,072 |
| US BANCORP NT V/R 1/27/28 | 40,000 | 38,657 |
| VISA INC NT 1.9% 4/15/27 | 59,831 | 57,923 |
| WELLS FARGO BK NT 5.95% 8/26/36 | 58,037 | 47,087 |
| WI PUBLIC SERV NT 3.3% 9/1/49 | 59,931 | 40,987 |
| WW GRAINGER NT 3.75% 5/15/46 | 19,864 | 15,596 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ABBVIE INC | 52,972 | 59,398 |
| ADVANCED ENERGY INDUSTRIES | 11,459 | 13,913 |
| AGIOS PHARMACEUTICALS INC | 7,357 | 9,147 |
| AGREE REALTY CORP | 10,778 | 12,420 |
| ALKAMI TECHNOLOGY INC | 10,301 | 12,508 |
| ALLEGRO MICROSYSTEMS INC | 9,508 | 12,137 |
| ALPHABET INC CL A | 74,709 | 230,861 |
| AMAZON COM INC | 52,275 | 287,401 |
| AMERIS BANCORP | 7,732 | 18,440 |
| AMGEN INC | 59,631 | 57,238 |
| AMPHENOL CORP CL-A | 17,378 | 66,656 |
| APPFOLIO INC | 7,686 | 14,968 |
| APPLE INC | 39,636 | 599,096 |
| ARCUTIS BIOTHERAPEUTICS INC | 7,616 | 7,571 |
| ARTIVION INC | 7,602 | 12,129 |
| ASBURY AUTOMOTIVE GROUP INC | 10,678 | 11,927 |
| ATRICURE INC | 10,922 | 12,944 |
| AVIENT CORP | 11,334 | 12,439 |
| AZENTA INC | 10,760 | 4,771 |
| BALCHEM CORP | 5,369 | 15,124 |
| BENTLEY SYSTEMS INC | 53,773 | 59,907 |
| BIOCRYST PHARMACEUTICALS INC | 6,718 | 8,960 |
| BOOKING HOLDINGS INC | 45,306 | 57,892 |
| BOOT BARN HOLDINGS INC | 4,297 | 11,400 |
| BROADCOM INC | 114,637 | 250,842 |
| BROADRIDGE FINANCIAL SOL | 49,675 | 52,251 |
| CADENCE DESIGN SYSTEMS INC | 23,054 | 60,089 |
| CADRE HOLDINGS INC | 13,056 | 11,625 |
| CASEYS GENERAL STORES INC | 51,891 | 53,578 |
| CATHAY GENERAL BANCORP | 7,818 | 12,521 |
| CBIZ INC | 13,977 | 18,645 |
| CBRE GROUP INC | 52,853 | 55,347 |
| CENTRAL GARDEN AND PET CO-A | 11,986 | 15,833 |
| CHAMPION HOMES INC | 7,391 | 15,653 |
| CHART INDUSTRIES INCORPORATED | 7,032 | 9,056 |
| CHENIERE ENERGY INC | 37,060 | 64,533 |
| CHORD ENERGY CORP | 15,162 | 10,169 |
| COHEN & STEERS INC | 2,729 | 10,172 |
| COPART INC | 46,324 | 59,865 |
| CORPAY INC COM | 35,911 | 49,773 |
| COSTCO WHSL CORP NEW | 57,838 | 89,095 |
| CRINETICS PHARMACEUTICALS INC | 10,989 | 7,334 |
| DROPBOX INC | 50,187 | 54,912 |
| DUCOMMUN INC | 7,670 | 11,981 |
| DYNATRACE INC | 52,116 | 55,486 |
| ENERPAC TOOL GROUP CORP | 12,127 | 10,951 |
| FIRST WATCH RESTAURANT GROUP INC | 14,966 | 13,634 |
| FISERV INC | 29,613 | 62,068 |
| GATES INDUSTRIAL CORP PLC ADR | 9,197 | 10,709 |
| GLACIER BANCORP INCORPORATED | 2,285 | 6,893 |
| GLOBUS MEDICAL INC-A | 4,804 | 14,460 |
| GODADDY INC CL A | 24,829 | 53,118 |
| GRAND CANYON EDUCATION INC | 7,305 | 17,955 |
| HALOZYME THERAPEUTICS INC | 5,781 | 10,404 |
| HEALTHEQUITY INC | 6,823 | 16,238 |
| HILLMAN SOLUTIONS CORP | 11,963 | 8,747 |
| HILTON WORLDWIDE HOLDINGS INC | 28,614 | 63,922 |
| HOME DEPOT INC | 28,680 | 60,496 |
| HONEYWELL INTL INC | 49,681 | 62,878 |
| HORACE MANN EDUCATORS CORP | 14,092 | 16,329 |
| HOULIHAN LOKEY INC | 5,086 | 19,795 |
| IDACORP INC | 7,766 | 12,122 |
| ILLINOIS TOOL WORKS INC | 30,743 | 60,576 |
| INDEPENDENCE REALTY TRUST INC | 11,728 | 10,172 |
| INDEPENDENT BANK CORP/MA | 9,368 | 9,810 |
| INSMED INC | 3,899 | 20,128 |
| INTAPP INC | 13,495 | 19,616 |
| INTUIT | 40,064 | 63,010 |
| ITT INC | 6,317 | 14,899 |
| LA-Z BOY INC | 7,427 | 7,248 |
| LILLY ELI & CO | 69,514 | 113,032 |
| MACOM TECHNOLOGY SOLUTIONS | 4,462 | 28,658 |
| MAGNOLIA OIL & GAS CORP | 8,996 | 15,736 |
| MASTERCARD INCORPORATED CLASS A | 40,228 | 89,910 |
| MATADOR RESOURCES COMPANY | 9,128 | 14,793 |
| MCDONALDS CORP | 41,099 | 58,434 |
| MCKESSON CORP | 31,440 | 62,286 |
| MEDPACE HOLDINGS INC | 6,313 | 14,124 |
| META PLATFORMS INC | 101,124 | 243,570 |
| MICROSOFT CORP | 121,242 | 718,757 |
| MINERALS TECHNOLOGIES INC | 10,876 | 11,565 |
| MOTOROLA SOLUTIONS INC | 44,227 | 60,967 |
| MSCI INC-A | 53,238 | 63,441 |
| NATIONAL HEALTH INVESTORS INC | 5,890 | 10,167 |
| NEOGENOMICS INC | 5,828 | 5,483 |
| NETFLIX.COM INC | 68,253 | 107,130 |
| NORTHWESTERN ENERGY GROUP INC | 10,890 | 14,621 |
| NOVANTA INC ADR | 9,767 | 14,827 |
| NVIDIA CORP | 117,896 | 693,576 |
| OCEANFIRST FINANCIAL CORP | 8,595 | 10,126 |
| OXFORD INDUSTRIES INCORPORATED | 6,622 | 5,031 |
| PACIFIC PREMIER BANCORP INC | 8,675 | 6,854 |
| PALO ALTO NETWORKS INC | 16,880 | 61,392 |
| PAR TECHNOLOGY CORP | 9,835 | 9,712 |
| PATRICK INDUSTRIES INC | 5,047 | 15,225 |
| PERELLA WEINBERG PARTNERS | 5,457 | 7,865 |
| PERFORMANCE FOOD GROUP CO | 38,759 | 55,543 |
| PHREESIA INC | 10,548 | 13,661 |
| PRIMORIS SERVICES CORP | 4,695 | 18,316 |
| PTC INC | 41,793 | 53,425 |
| RBC BEARINGS INC | 2,043 | 24,242 |
| REVOLVE GROUP INC | 5,826 | 4,010 |
| ROCKWELL AUTOMATION INC | 44,058 | 53,147 |
| ROLLINS INCORPORATED | 24,005 | 52,866 |
| RYMAN HOSPITALITY PROPERTIES | 10,111 | 12,827 |
| SALESFORCE INC | 74,599 | 61,355 |
| SCHNEIDER NATIONAL INC | 6,008 | 5,796 |
| SEACOAST BANKING CORP OF FLORIDA | 12,542 | 15,191 |
| SERVICENOW INC | 44,900 | 61,685 |
| SILGAN HOLDINGS INC | 8,287 | 18,692 |
| SOLARIS ENERGY INFRASTRUCTURE INC | 5,786 | 7,214 |
| SPOTIFY TECHNOLOGY SA | 30,946 | 65,224 |
| SPRINGWORKS THERAPEUTICS INC | 9,577 | 11,278 |
| SPX TECHNOLOGIES INC | 7,655 | 25,152 |
| STAG INDUSTRIAL INC | 11,749 | 19,047 |
| STERLING INFRASTRUCTURE INC | 13,794 | 27,688 |
| STIFEL FINL CORP | 3,762 | 18,162 |
| STRYKER CORP | 21,050 | 61,323 |
| SUPERNUS PHARMACEUTICALS INC | 11,349 | 14,342 |
| TANDEM DIABETES CARE INC | 16,331 | 9,413 |
| TARGA RESOURCES CORP | 30,107 | 55,706 |
| TESLA MOTORS INC | 107,406 | 189,008 |
| TEXAS CAPITAL BANCSHARES INC | 9,331 | 9,131 |
| TEXAS ROADHOUSE INC | 1,218 | 18,741 |
| THE BALDWIN INSURANCE GROUP INC | 9,471 | 11,987 |
| THE DESCARTES SYSTEMS GROUP INC ADR | 5,703 | 17,788 |
| THERMON GROUP HOLDINGS INC | 8,585 | 7,441 |
| TJX COS INC | 55,329 | 59,893 |
| TKO GROUP HOLDINGS INC | 49,461 | 60,953 |
| TRACTOR SUPPLY COMPANY | 42,734 | 54,089 |
| TRADEWEB MARKETS INC | 31,285 | 57,096 |
| TRI POINTE HOMES INC | 12,815 | 11,502 |
| TYLER TECHNOLOGIES INC | 51,458 | 53,356 |
| UFP INDUSTRIES INC | 1,556 | 15,401 |
| UMB FINANCIAL CORP | 11,364 | 14,197 |
| US PHYSICAL THERAPY INC | 14,524 | 12,903 |
| UTZ BRANDS INC | 12,363 | 9,726 |
| VANGUARD FTSE EMERGING MARKETS-ETF | 278,271 | 296,760 |
| VERACYTE INC | 12,248 | 13,110 |
| VIAVI SOLUTIONS INC | 12,411 | 12,084 |
| VISA INC CLASS A SHARES | 43,982 | 118,942 |
| VITA COCO CO INC | 9,406 | 12,274 |
| WASTE MGMT INC DEL | 41,917 | 59,493 |
| WORKDAY INC-CLASS A | 66,900 | 57,600 |
| ZOETIS INC | 53,037 | 56,922 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| COMMERCE MIDCAP GROWTH FUND | AT COST | 297,569 | 673,428 |
| COMMERCE VALUE FUND INSTITUTIONAL | AT COST | 614,558 | 1,027,108 |
| DFA INTL SMALL CO PORTFOLIO | AT COST | 158,993 | 219,248 |
| FIDELITY MID CAP VAL INDX | AT COST | 728,690 | 1,246,701 |
| JPMORGAN HEDGED EQUITY-R6 | AT COST | 323,888 | 410,310 |
| MFS RESEARCH INTERNAT R6 | AT COST | 955,632 | 1,425,468 |
| NUVEEN INTL EQUITY INDEX FD-R6 #7295 | AT COST | 951,923 | 1,474,591 |
| NUVEEN L/C GROWTH INDEX FD-R6 #7292 | AT COST | 195,301 | 309,277 |
| NUVEEN LARGE CAP VALUE INDEX FUND-R6 | AT COST | 3,027,580 | 4,525,929 |
| PGIM JENNISON M/C GROWTH CL R6 | AT COST | 508,950 | 331,394 |
| PRINCIPAL GL MULT STRAT-R6 | AT COST | 159,418 | 177,266 |
| T ROWE PR GROWTH STOCK-I | AT COST | 275,869 | 482,016 |
| T ROWE PR NEW HORIZONS-I | AT COST | 149,869 | 176,763 |
| Description | Amount |
|---|---|
| ROUNDING | 3 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| OUTSIDE INVESTMENT FEE | 10,403 | 8,323 | 2,081 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ESTIMATED TAXES PAID | 22,800 | 0 | 0 |