COMMERCE BANCSHARES INC CBSH
COM · Common Stock · CUSIP 200525103 · ISIN US2005251036
Bank holding company based in Kansas City, Missouri, United States
- SectorFinancials
- IndustryState Commercial Banks
- HeadquartersKansas City, MO
- Founded1865
- Websitecommercebank.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($15.2m this quarter). Holder counts are more reliable. Shares outstanding: 143.4m as of 2026-08-03, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $57.75. Options: 1 managers hold calls ($993.3k notional), 1 hold puts ($63.5k).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 397 |
| Q4 2022 | 425 |
| Q1 2023 | 411 |
| Q2 2023 | 395 |
| Q3 2023 | 384 |
| Q4 2023 | 395 |
| Q1 2024 | 382 |
| Q2 2024 | 395 |
| Q3 2024 | 444 |
| Q4 2024 | 469 |
| Q1 2025 | 466 |
| Q2 2025 | 490 |
| Q3 2025 | 474 |
| Q4 2025 | 457 |
| Q1 2026 | 475 |
| Q2 2026 | 508 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 211 | 165 |
| Q4 2024 | 342 | 134 |
| Q1 2025 | 179 | 235 |
| Q2 2025 | 224 | 218 |
| Q3 2025 | 232 | 196 |
| Q4 2025 | 304 | 187 |
| Q1 2026 | 236 | 200 |
| Q2 2026 | 258 | 196 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $1.6m | $47.0k | 0.03 |
| Q4 2025 | $1.6m | $65.7k | 0.04 |
| Q1 2026 | $1.2m | $130.4k | 0.11 |
| Q2 2026 | $993.3k | $63.5k | 0.06 |
Biggest buyers
| AQR CAPITAL MANAGEMENT LLC | Added | +4.7m |
| CITADEL ADVISORS LLC | Added | +1.3m |
| Balyasny Asset Management L.P. | Added | +992.0k |
| Alyeska Investment Group, L.P. | New | +562.8k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +531.1k |
| BANK OF AMERICA CORP /DE/ | Added | +410.9k |
| GOLDMAN SACHS GROUP INC | Added | +332.8k |
| VICTORY CAPITAL MANAGEMENT INC | Added | +290.8k |
| STATE STREET CORP | Added | +287.4k |
| Nuveen, LLC | Added | +230.3k |
Biggest sellers
| COMMERCE BANK | Reduced | -1.5m |
| Champlain Investment Partners, LLC | Reduced | -1.3m |
| STRATEGIC VALUE BANK PARTNERS LLC | Sold out | -712.6k |
| Qube Research & Technologies Ltd | Sold out | -591.1k |
| COOKE & BIELER LP | Reduced | -414.0k |
| FIRST TRUST ADVISORS LP | Reduced | -357.2k |
| BASSWOOD CAPITAL MANAGEMENT, L.L.C. | Sold out | -292.8k |
| AMERICAN CENTURY COMPANIES INC | Reduced | -286.4k |
| MORGAN STANLEY | Reduced | -280.3k |
| D. E. Shaw & Co., Inc. | Reduced | -260.3k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $993.3k17.2k shares |
Biggest puts
| SIMPLEX TRADING, LLC | Reduced | $63.5k1.1k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| COMMERCE BANK 13G · institution new · filed 2026-02-11 | 6.2% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.0% |
| STATE STREET CORP 13G · institution +0.2 pts · filed 2026-08-07 | 5.0% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 11 | $3.1m | — |
| Q1 2025 | 0 | — | 10 | $5.6m | — |
| Q2 2025 | 0 | — | 2 | $163.9k | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 1 | $119.3k | 7 | $2.1m | — |
| Q2 2026 | 0 | — | 1 | $11.0k | — |
| Q3 2026 | 0 | — | 7 | $2.0m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-08-27 | Neff Douglas D Senior Vice President | Sold | $38.7k666 shares |
| 2026-08-14 | Orf David L Exec. Vice President & CCO | Sold | $38.7k642 shares |
| 2026-08-04 | Roller David L. Senior Vice President | Sold | $50.0k830 shares |
| 2026-07-30 | Holmes Robert S Executive Vice President | Sold | $301.0k5.0k shares |
| 2026-07-29 | Kemper John W President and CEO, director | Sold | $353.2k5.8k shares |
| 2026-07-28 | Brooks Derrick Senior Vice President | Sold | $62.1k1.0k shares |
| 2026-07-27 | KIM CHARLES G Exec. Vice President and CFO | Sold | $1.2m19.8k shares |
| 2026-06-16 | FOWLER JUNE MCALLISTER Director | Sold | $11.0k200 shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 13.1m $755.7m | Added +150.4k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.02% of their portfolio | 9.0m $521.2m | Added +220.1k |
| STATE STREET CORP 0.01% of their portfolio | 7.4m $424.7m | Added +287.4k |
| AQR CAPITAL MANAGEMENT LLC 0.13% of their portfolio | 6.5m $378.0m | Added +4.7m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 6.2m $358.9m | Reduced -11.6k |
| AMERICAN CENTURY COMPANIES INC 0.15% of their portfolio | 5.9m $342.9m | Reduced -286.4k |
| COMMERCE BANK 1.39% of their portfolio | 5.5m $316.0m | Reduced -1.5m |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 4.2m $240.5m | Added +221.6k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 3.0m $173.8m | Added +32.8k |
| FIRST TRUST ADVISORS LP 0.08% of their portfolio | 2.3m $130.1m | Reduced -357.2k |
| Boston Trust Walden Corp 0.93% of their portfolio | 2.1m $122.1m | Added +179.9k |
| CITADEL ADVISORS LLC 0.07% of their portfolio | 2.1m $119.9m | Added +1.3m |
| MORGAN STANLEY 0.01% of their portfolio | 2.0m $116.2m | Reduced -280.3k |
| WELLS FARGO & COMPANY/MN 0.02% of their portfolio | 1.9m $111.9m | Reduced -129.2k |
| NORGES BANK 0.01% of their portfolio | 1.7m $98.7m | Not comparable |
| VICTORY CAPITAL MANAGEMENT INC 0.05% of their portfolio | 1.6m $89.9m | Added +290.8k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.4m $83.3m | Added +410.9k |
| UBS Group AG 0.01% of their portfolio | 1.4m $82.3m | Added +120.9k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.4m $79.0m | Reduced -259.0k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.3m $72.8m | Added +25.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.2m $70.2m | Added +20.5k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.03% of their portfolio | 1.1m $66.0m | Added +531.1k |
| Balyasny Asset Management L.P. 0.12% of their portfolio | 1.1m $65.5m | Added +992.0k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 1.1m $62.8m | Added +332.8k |
| RENAISSANCE TECHNOLOGIES LLC 0.08% of their portfolio | 978.6k $56.5m | Reduced -56.1k |
| Champlain Investment Partners, LLC 1.44% of their portfolio | 971.9k $56.1m | Reduced -1.3m |
| Bank of New York Mellon Corp 0.01% of their portfolio | 942.7k $54.4m | Reduced -56.6k |
| VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio | 858.6k $49.6m | Added +6.9k |
| TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio | 702.1k $40.5m | Added +214.0k |
| COOKE & BIELER LP 0.39% of their portfolio | 591.2k $34.1m | Reduced -414.0k |
| Alyeska Investment Group, L.P. 0.08% of their portfolio | 562.8k $32.5m | New |
| Point72 Asset Management, L.P. 0.05% of their portfolio | 556.3k $32.1m | Reduced -56.4k |
| Arbejdsmarkedets Tillaegspension 0.66% of their portfolio | 529.2k $30.6m | Added +6.1k |
| ProShare Advisors LLC 0.04% of their portfolio | 525.6k $30.4m | Added +55.5k |
| Mutual Advisors, LLC 0.54% of their portfolio | 492.7k $28.5m | Added +31 |
| Nuveen, LLC 0.01% of their portfolio | 480.4k $27.7m | Added +230.3k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 440.3k $25.4m | Reduced -208.6k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 414.0k $23.9m | Reduced -260.3k |
| Invesco Ltd. 0.00% of their portfolio | 375.1k $21.7m | Added +3.3k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 372.7k $21.5m | Reduced -6.1k |
| Creative Planning 0.01% of their portfolio | 363.0k $21.0m | Added +60.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 349.8k $20.2m | Reduced -64.8k |
| River Road Asset Management, LLC 0.22% of their portfolio | 340.0k $19.6m | Added +112 |
| SPEECE THORSON CAPITAL GROUP INC 4.10% of their portfolio | 332.4k $19.2m | Reduced -6.2k |
| Mariner, LLC 0.02% of their portfolio | 317.2k $18.3m | Added +177.2k |
| Fisher Asset Management, LLC 0.01% of their portfolio | 311.8k $18.0m | Reduced -8.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 307.8k $17.8m | Added +1.9k |
| Quantinno Capital Management LP 0.02% of their portfolio | 289.0k $16.7m | Added +81.6k |
| Swiss National Bank 0.01% of their portfolio | 272.6k $15.7m | Added +9.2k |
| FMR LLC 0.00% of their portfolio | 254.7k $14.7m | Added +200.6k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 240.8k $13.9m | Reduced -40.4k |
| California Public Employees Retirement System 0.01% of their portfolio | 240.4k $13.9m | Reduced -4.0k |
| UMB Bank, n.a. 0.17% of their portfolio | 231.6k $13.4m | Reduced -3.6k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.06% of their portfolio | 226.5k $13.1m | Reduced -237.1k |
| PNC Financial Services Group, Inc. 0.01% of their portfolio | 223.4k $12.9m | Reduced -1.7k |
| MONETA GROUP INVESTMENT ADVISORS LLC 0.09% of their portfolio | 219.6k $12.7m | Reduced -29.7k |
| Legal & General Group Plc 0.00% of their portfolio | 186.5k $10.8m | Added +4.3k |
| Cerity Partners LLC 0.01% of their portfolio | 179.0k $10.3m | Added +105.3k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 172.9k $10.0m | Added +25.0k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 170.5k $8.4m | Reduced -85.1k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 156.9k $9.1m | Reduced -11.0k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 149.8k $8.7m | Reduced -249.4k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 146.9k $8.5m | Reduced -3.5k |
| Holocene Advisors, LP 0.02% of their portfolio | 146.7k $8.5m | Reduced -27.0k |
| Edgestream Partners, L.P. 0.25% of their portfolio | 144.0k $8.3m | Added +49.0k |
| Midwest Trust Co 0.09% of their portfolio | 142.5k $8.2m | Reduced -1.7k |
| Retirement Systems of Alabama 0.02% of their portfolio | 140.2k $8.1m | Reduced -27.8k |
| Waterfront Wealth Inc. 1.23% of their portfolio | 135.8k $7.9m | Reduced -2.5k |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 134.3k $7.8m | Reduced -84.9k |
| CITIGROUP INC 0.00% of their portfolio | 129.6k $7.5m | Reduced -6.4k |
| MERCER GLOBAL ADVISORS INC /ADV 0.01% of their portfolio | 125.1k $7.2m | Added +79.0k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 125.0k $7.2m | Added +6.2k |
| IEQ CAPITAL, LLC 0.03% of their portfolio | 124.3k $7.2m | New |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 122.9k $7.1m | Added +6.8k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 119.6k $6.9m | Added +41.8k |
| Numerai GP LLC 0.55% of their portfolio | 117.1k $6.8m | Reduced -22.7k |
| US BANCORP \DE\ 0.01% of their portfolio | 117.1k $6.8m | Reduced -2.4k |
| IFG Advisory, LLC 0.23% of their portfolio | 114.0k $6.6m | Added +5.6k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio | 107.8k $5.7m | Added +86.5k |
| VAN ECK ASSOCIATES CORP 0.00% of their portfolio | 104.0k $6.0m | Added +1.6k |
| Vest Financial, LLC 0.06% of their portfolio | 101.1k $5.8m | Reduced -25.0k |
| OPPENHEIMER & CO INC 0.06% of their portfolio | 99.3k $5.7m | Unchanged |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 98.3k $5.7m | Reduced -1.8k |
| Horizon Investments, LLC 0.06% of their portfolio | 96.1k $5.6m | Added +93.4k |
| CAPTRUST FINANCIAL ADVISORS 0.01% of their portfolio | 94.5k $5.5m | Added +43.5k |
| MTM Investment Management, LLC 1.47% of their portfolio | 89.0k $5.1m | Added +737 |
| Man Group plc 0.01% of their portfolio | 87.8k $5.1m | Added +32.9k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 87.7k $5.1m | Added +4.4k |
| Hilton Capital Management, LLC 0.33% of their portfolio | 84.3k $4.9m | Added +15.5k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 83.5k $4.8m | Added +13.5k |
| Clark & Stuart, Inc 3.02% of their portfolio | 83.4k $4.8m | Reduced -578 |
| LPL Financial LLC 0.00% of their portfolio | 82.4k $4.8m | Reduced -32.4k |
| Stonebridge Financial Group, LLC 0.36% of their portfolio | 81.3k $4.7m | Added +3.4k |
| Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio | 79.6k $4.6m | Added +48.7k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 78.3k $4.5m | Added +1.4k |
| Freestone Grove Partners LP 0.03% of their portfolio | 77.1k $4.5m | New |
| MOSAIC FAMILY WEALTH PARTNERS, LLC 0.30% of their portfolio | 75.8k $4.4m | Added +6.9k |
| ATWOOD & PALMER INC 0.22% of their portfolio | 71.3k $4.1m | Reduced -500 |
| &PARTNERS 0.02% of their portfolio | 69.6k $4.0m | Added +36.2k |
| MetLife Investment Management, LLC 0.02% of their portfolio | 65.3k $3.8m | Reduced -2.1k |