Azzad Funds NPORT-P Azzad Ethical Fund (Mar 2024 report)

Schedule of Investments
March 31, 2024 (unaudited)
Azzad Ethical Fund
		Shares or Principal
Security Description		Amount ($)		Fair Value ($)(1)
Common Stocks - 97.04%
Aircraft & Parts - 1.95%
HEICO Corp. Class A (2)		19,545		3,008,757
Apparel & Other Finished Prods of Fabrics & Similar Material - 2.01%
Levi Strauss & Co. Class A (2)		92,233		1,843,738
Lululemon Athletica, Inc. (Canada)		3,269		1,277,035
				3,120,773
Automotive Components - 0.26%
Fox Factory Holding Corp.		7,726		402,293
Beverages 0.48%
Celsius Holdings, Inc.		9,048		750,260
Biological Products, (No Diagnostic Substances) - 3.39%
Bio-Techne Corp. (2)		16,421		3,020,150
Repligen Corp.		31,707		2,231,856
				5,252,006
Capital Goods - 2.45%
Howmet Aerospace, Inc. (2)		33,022		2,259,695
Willscot Mobile Mini Holding Corp.		32,979		1,533,524
				3,793,219
Electrical Work - 2.47%
Quanta Services, Inc. (2)		14,703		3,819,839
Electronic Components & Accessories - 1.32%
Universal Display Corp. (2)		12,095		2,037,403
Fabricated Rubber Products, Nec - 1.15%
West Pharmaceutical Services, Inc.		4,504		1,782,278
General Industrial Machinery & Equipment - 0.95%
Zebra Technologies Corporation		4,891		1,474,343
Health Care Equipment & Services - 0.94%
Inspire Medical Systems, Inc.		6,792		1,458,854
GE HealthCare Technologies Inc. - 1.14%
GE HealthCare Technologies Inc. (2)		19,493		1,772,109
Household Appliances - 1.56%
A.O. Smith Corp. (2)		26,954		2,411,305
In Vitro & In Vivo Diagnostic Substances - 1.63%
IDEXX Laboratories, Inc.		4,686		2,530,112
Industrial Instruments For Measurement, Display, & Control- 1.60%
Keysight Technologies, Inc.		15,830		2,475,495
Instruments For Meas & Testing of Electricity & Electric Signals - 2.03%
Teradyne, Inc. (2)		27,876		3,145,249
Laboratory Analytical Instruments - 2.22%
Agilent Technologies, Inc. (2)		13,208		1,921,896
Mettler-Toledo International Inc.		1,138		1,515,008
				3,436,904
Lumber & Wood Products (No Furniture) - 2.46%
Trex Co., Inc.		38,230		3,813,443
Measuring & Controlling Devices  - 1.54%
Trimble, Inc.		37,007		2,381,771
Metalworking Machinery & Equipment - 1.28%
Lincoln Electric Holdings, Inc. (2)		7,778		1,986,812
Mining & Quarrying of Nonmetallic Minerals (No Fuels) - 1.45%
Martin Marietta Materials, Inc. (2)		3,666		2,250,704
Miscellaneous Electrical Machinery, Equipment & Supplies - 0.93%
Novanta, Inc.		8,225		1,437,483
Motors & Generators - 1.48%
Generac Holdings, Inc. Class A		18,160		2,290,702
Ophthalmic Goods - 1.89%
National Vision Holdings, Inc.		43,647		967,218
The Cooper Companies, Inc.		19,336		1,961,831
				2,929,049
Optical Instruments & Lenses - 1.70%
KLA Corp. (2)		3,775		2,637,102
Orthopedic, Prosthetic & Surgical Appliances & Supplies - 5.00%
Align Technology, Inc.		6,506		2,133,448
Edwards Lifesciences Corp.		24,434		2,334,913
Intuitive Surgical, Inc.		8,223		3,281,717
				7,750,078
Railroad Equipment - 1.02%
Westinghouse Air Brake Technologies Corporation (2)		10,891		1,586,601
Retail-Auto Dealers & Gasoline Stations - 2.15%
Copart, Inc.		57,372		3,322,986
Retail-Building Materials, Hardware, Garden Supply - 1.85%
Fastenal Co. (2)		37,205		2,869,994
Retail-Lumber & Other Building Materials Dealers - 2.35%
Floor & Decor Holdings, Inc. Class A		28,132		3,646,470
Retail-Variety Stores - 0.45%
Five Below, Inc.		3,859		699,945
Rubber & Plastics Footwear - 1.73%
On Holding AG		75,586		2,674,233
Semiconductors & Related Devices - 4.59%
Microchip Technology, Inc. (2)		33,043		2,964,288
Monolithic Power Systems, Inc. (2)		6,118		4,144,456
				7,108,744
Semiconductors & Semiconductor Equipment - 0.11%
Lattice Semiconductor Corporation		25,770		2,015,987
Onto Innovations, Inc.		931		168,585
				168,585
Services-Business Services - 4.30%
Costar Group, Inc.		68,891		6,654,871
Services-Computer Processing & Data Preparation - 1.40%
Workday, Inc. Class A		7,929		2,162,635
Services-Computer Programming, Data Processing, Etc. - 5.51%
Factset Research Systems, Inc. (2)		3,161		1,436,327
Pinterest, Inc. Class A		113,374		3,930,677
The Trade Desk, Inc. Class A		36,258		3,169,674
				8,536,678
Services-Miscellaneous Amusement & Recreation - 1.33%
Vail Resorts, Inc.		9,213		2,052,933
Services-Prepackaged Software - 13.32%
Cadence Design Systems, Inc.		18,363		5,716,035
Crowdstrike Holdings, Inc. Class A		14,275		4,576,422
HubSpot, Inc.		3,095		1,939,203
MongoDB, Inc.		5,207		1,867,438
Tyler Technologies, Inc.		6,612		2,810,166
Veeva Systems, Inc. Class A		10,457		2,422,782
Workiva, Inc.		15,268		1,294,726
				20,626,772
Services-To Dwellings & Other Buildings - 1.21%
Rollins, Inc. (2)		40,412		1,869,863
Software & Services - Communications Services, NEC - 0.94%
Doubleverify Holdings, Inc.		41,265		1,450,877
Surgical & Medical Instruments & Apparatus - 3.47%
DexCom, Inc.		38,718		5,370,187
Switchgear & Switchboard Apparatus - 1.06%
Littelfuse, Inc. (2)		6,786		1,644,587
Trucking (No Local) - 1.61%
Old Dominion Freight Line, Inc. (2)		11,370		2,493,555
Wholesale-Miscellaneous Durable Goods - 1.90%
Pool Corp. (2)		7,290		2,941,515
X-Ray Apparatus & Tubes & Related Irradiation Apparatus- 1.46%
Hologic, Inc.		28,978		2,259,125
Total Investments - 97.04%		(Cost $        108,755,914)		150,289,499
Other Assets Less Liabilities - 0.96%				1,452,005
Total Net Assets - 100.00%				154,893,356
(1)  Statement on Financial Accounting Standard No. 157 "Fair Value Measurements" - Various inputs are used in determining the value of the Fund's investments.
These inputs are summarized in the three broad levels listed below.
• Level 1 - quoted prices in active markets for identical securities
• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
• Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)
The following is a summary of the inputs used as of  March 28, 2024 in valuing the Fund's assets carried at fair value:
		Investments in		Other Financial
Valuation Inputs		Securities		Instruments (9)
Level 1 - Quoted Prices	$	150,289,499	$	-
Level 2 - Other Significant Observable Inputs		-		-
Level 3 - Significant Unobservable Inputs		-		-
Total	$	150,289,499	$	-
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term
debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment
Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active
market, such securities are reflected as Level 2.
(2)  Represents non-income producing securities.