<SEC-DOCUMENT>0001398344-25-015377.txt : 20250814
<SEC-HEADER>0001398344-25-015377.hdr.sgml : 20250814
<ACCEPTANCE-DATETIME>20250814081856
ACCESSION NUMBER:		0001398344-25-015377
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250814
DATE AS OF CHANGE:		20250814

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMMERCE BANCSHARES INC /MO/
		CENTRAL INDEX KEY:			0000022356
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		ORGANIZATION NAME:           	02 Finance
		EIN:				430889454
		STATE OF INCORPORATION:			MO
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-19958
		FILM NUMBER:		251214517

	BUSINESS ADDRESS:	
		STREET 1:		1000 WALNUT
		CITY:			KANSAS CITY
		STATE:			MO
		ZIP:			64106
		BUSINESS PHONE:		8162342000

	MAIL ADDRESS:	
		STREET 1:		P O BOX 419248
		CITY:			KANSAS CITY
		STATE:			MO
		ZIP:			64141-6248

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Aristotle Capital Management, LLC
		CENTRAL INDEX KEY:			0000860644
		ORGANIZATION NAME:           	
		EIN:				954833644
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		11100 SANTA MONICA BLVD
		STREET 2:		SUITE 1700
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025
		BUSINESS PHONE:		3104784005

	MAIL ADDRESS:	
		STREET 1:		11100 SANTA MONICA BLVD
		STREET 2:		SUITE 1700
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	REED CONNER & BIRDWELL LLC
		DATE OF NAME CHANGE:	20010129

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	REED CONNER & BIRDWELL INC
		DATE OF NAME CHANGE:	19990407

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CAMPBELL REED CONNER & BIRDWELL INC
		DATE OF NAME CHANGE:	19920424
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Aristotle Capital Management, LLC -->
          <cik>0000860644</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>4</amendmentNo>
      <securitiesClassTitle>$5 Par Value Common Stock</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>06/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000022356</issuerCik>
        <issuerName>COMMERCE BANCSHARES, INC.</issuerName>
        <issuerCusip>200525103</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>1000 WALNUT</com:street1>
          <com:city>KANSAS CITY</com:city>
          <com:stateOrCountry>MO</com:stateOrCountry>
          <com:zipCode>64106</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Aristotle Capital Management, LLC</reportingPersonName>
      <citizenshipOrOrganization>CA</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>6479179.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>6479179.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>6479179.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>4.86</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>COMMERCE BANCSHARES, INC.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>1000 WALNUT, KANSAS CITY, MO, 64106</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Aristotle Capital Management, LLC</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>11100 SANTA MONICA BLVD, SUITE 1700, LOS ANGELES, CA, 90025</principalBusinessOfficeOrResidenceAddress>
        <citizenship>California</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>6,479,179</amountBeneficiallyOwned>
        <classPercent>4.86</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>6,479,179</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>6,479,179</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>N</notApplicableFlag>
        <classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>N</notApplicableFlag>
        <ownershipMoreThan5PercentOnBehalfOfAnotherPerson>All of the shares of Common Stock set forth in Item 4 are owned by various investment advisory clients of Aristotle Capital Management, LLC, which is deemed to be a beneficial owner of those shares pursuant to Rule 13d-3 under the Securities Exchange Act of 1934, due to its discretionary power to make investment decisions over such shares for its clients and/or its ability to vote such shares.  In all cases, persons other than Aristotle Capital Management, LLC have the right to receive, or the power to direct the receipt of, dividends from, or the proceeds from the sale of the shares.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
      </item6>
      <item7>
        <notApplicableFlag>N</notApplicableFlag>
        <subsidiaryIdentificationAndClassification>Not applicable.</subsidiaryIdentificationAndClassification>
      </item7>
      <item8>
        <notApplicableFlag>N</notApplicableFlag>
        <identificationAndClassificationOfGroupMembers>Not applicable.</identificationAndClassificationOfGroupMembers>
      </item8>
      <item9>
        <notApplicableFlag>N</notApplicableFlag>
        <groupDissolutionNotice>Not applicable.</groupDissolutionNotice>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Aristotle Capital Management, LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Michelle M. Gosom</signature>
        <title>Michelle M. Gosom, Chief Compliance Officer</title>
        <date>08/14/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
