Verdicts genuinely change. Free email alert the moment DFMAX's does — no target price to set, unlike "Alert" above.
Whether this fund clears the published standards, and the filings behind that answer. The screen runs first and nothing on the trading side can override it.
Structure, momentum, positioning and levels. Separate from the Sharia verdict above, which this side never overrides.
Davidson Multi-Cap Equity Fund · Advisors Series Trust
52 holdings
NON-COMPLIANT 29.19% of portfolio weight is in non-compliant holdings, over the 5% threshold.
52 holdings, 48 matched (96% of weight). Portfolio as of 2026-06-30, filed 2026-08-25. Source: SEC Form N-PORT.
1.24% of this portfolio’s income is non-permissible — weighted across holdings, computed over 81% of portfolio weight (39 of 52 holdings). The common approach purifies that proportion of income received — dividends — not of the position’s value. We report the ratio; what to do with it is a question for your own scholar.
47.2% compliant 20.1% questionable 29.2% non-compliant 3.6% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| NVDA NVIDIA Corp | COMPLIANT | 5.82% | AAOIFI1.1% Usmani12.1% Dow Jones Islamic0.9% S&P Shariah1.1% MSCI Islamic12.1% MSCI Islamic M-Series1.1% FTSE Shariah10.4% |
| GOOG Alphabet Inc | QUESTIONABLE | 5.61% | AAOIFI2.9% Usmani13.1% Dow Jones Islamic3.9% S&P Shariah4.5% MSCI Islamic12.8% MSCI Islamic M-Series4.5% FTSE Shariah10.9% |
| AMZN Amazon.com Inc | QUESTIONABLE | 4.98% | AAOIFI8.2% Usmani22.1% Dow Jones Islamic9.6% S&P Shariah10.6% MSCI Islamic20.9% MSCI Islamic M-Series10.6% FTSE Shariah12.1% |
| AAPL Apple Inc | COMPLIANT | 4.50% | AAOIFI2.1% Usmani21.5% Dow Jones Islamic2.2% S&P Shariah2.4% MSCI Islamic21.5% MSCI Islamic M-Series2.4% FTSE Shariah21.5% |
| MSFT Microsoft Corp | QUESTIONABLE | 4.19% | AAOIFI1.5% Usmani7.5% Dow Jones Islamic1.7% S&P Shariah1.8% MSCI Islamic7.5% MSCI Islamic M-Series1.8% FTSE Shariah5.3% |
| TSM TSMC | COMPLIANT | 3.88% | AAOIFI1.5% Usmani13.8% Dow Jones Islamic0.5% S&P Shariah0.6% MSCI Islamic13.4% MSCI Islamic M-Series0.6% FTSE Shariah13.4% |
| AVGO Broadcom Inc | COMPLIANT | 3.58% | AAOIFI3.8% Usmani32.5% Dow Jones Islamic4.4% S&P Shariah5.5% MSCI Islamic32.5% MSCI Islamic M-Series5.5% FTSE Shariah32.5% |
| C Citigroup Inc | NON_COMPLIANT | 3.23% | AAOIFI159.2% Usmani13.8% Dow Jones Islamic214.6% S&P Shariah251.0% MSCI Islamic13.8% MSCI Islamic M-Series251.0% FTSE Shariah13.8% |
| V Visa Inc | COMPLIANT | 2.67% | AAOIFI3.5% Usmani25.2% Dow Jones Islamic15.5% S&P Shariah16.7% MSCI Islamic25.2% MSCI Islamic M-Series16.7% FTSE Shariah25.2% |
| H Hyatt Hotels Corp | NON_COMPLIANT | 2.39% | AAOIFI30.0% Usmani32.3% Dow Jones Islamic31.2% S&P Shariah32.4% MSCI Islamic32.3% MSCI Islamic M-Series32.4% FTSE Shariah30.6% |
| ETN Eaton Corp PLC | COMPLIANT | 2.39% | AAOIFI13.4% Usmani38.0% Dow Jones Islamic15.6% S&P Shariah16.9% MSCI Islamic38.0% MSCI Islamic M-Series16.9% FTSE Shariah36.7% |
| ANET Arista Networks Inc | COMPLIANT | 2.37% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| META Meta Platforms Inc | QUESTIONABLE | 2.17% | AAOIFI7.2% Usmani25.0% Dow Jones Islamic7.0% S&P Shariah7.9% MSCI Islamic25.0% MSCI Islamic M-Series7.9% FTSE Shariah18.6% |
| PANW Palo Alto Networks Inc | COMPLIANT | 2.03% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| CI Cigna Group/The | NON_COMPLIANT | 1.97% | AAOIFI42.7% Usmani20.3% Dow Jones Islamic40.5% S&P Shariah38.8% MSCI Islamic20.3% MSCI Islamic M-Series38.8% FTSE Shariah20.3% |
| RTX RTX Corp | NON_COMPLIANT | 1.96% | AAOIFI12.5% Usmani19.3% Dow Jones Islamic15.9% S&P Shariah18.5% MSCI Islamic19.3% MSCI Islamic M-Series18.5% FTSE Shariah18.4% |
| CPT Camden Property Trust | NON_COMPLIANT | 1.90% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| PGR Progressive Corp/The | NON_COMPLIANT | 1.90% | AAOIFI6.5% Usmani6.7% Dow Jones Islamic6.3% S&P Shariah6.9% MSCI Islamic6.7% MSCI Islamic M-Series6.9% FTSE Shariah6.7% |
| VRTX Vertex Pharmaceuticals Inc | COMPLIANT | 1.86% | AAOIFI1.6% Usmani7.2% Dow Jones Islamic1.7% S&P Shariah1.7% MSCI Islamic7.2% MSCI Islamic M-Series1.7% FTSE Shariah0.0% |
| GS Goldman Sachs Group Inc/The | NON_COMPLIANT | 1.84% | AAOIFI147.5% Usmani20.6% Dow Jones Islamic194.6% S&P Shariah229.2% MSCI Islamic20.6% MSCI Islamic M-Series229.2% FTSE Shariah20.6% |
| WMT Walmart Inc | QUESTIONABLE | 1.81% | AAOIFI6.4% Usmani21.5% Dow Jones Islamic6.9% S&P Shariah8.0% MSCI Islamic19.2% MSCI Islamic M-Series8.0% FTSE Shariah13.6% |
| HD Home Depot Inc/The | COMPLIANT | 1.72% | AAOIFI18.6% Usmani56.1% Dow Jones Islamic16.3% S&P Shariah17.0% MSCI Islamic53.3% MSCI Islamic M-Series17.0% FTSE Shariah44.5% |
| FDX FedEx Corp | NON_COMPLIANT | 1.69% | AAOIFI55.5% Usmani43.2% Dow Jones Islamic60.9% S&P Shariah62.7% MSCI Islamic41.7% MSCI Islamic M-Series62.7% FTSE Shariah24.3% |
| EOG EOG Resources Inc | COMPLIANT | 1.65% | AAOIFI10.8% Usmani15.1% Dow Jones Islamic12.6% S&P Shariah12.5% MSCI Islamic15.1% MSCI Islamic M-Series12.5% FTSE Shariah14.5% |
| GIL.TO Gildan Activewear Inc | NON_COMPLIANT | 1.63% | AAOIFI43.5% Usmani41.2% Dow Jones Islamic35.1% S&P Shariah39.9% MSCI Islamic41.2% MSCI Islamic M-Series39.9% FTSE Shariah41.2% |
| CVX Chevron Corp | COMPLIANT | 1.62% | AAOIFI0.1% Usmani0.1% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.1% MSCI Islamic M-Series0.1% FTSE Shariah0.1% |
| AZN AstraZeneca PLC | COMPLIANT | 1.53% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| LH Labcorp Holdings Inc | COMPLIANT | 1.53% | AAOIFI25.4% Usmani36.5% Dow Jones Islamic31.6% S&P Shariah33.5% MSCI Islamic36.2% MSCI Islamic M-Series33.5% FTSE Shariah31.6% |
| TMO Thermo Fisher Scientific Inc | COMPLIANT | 1.51% | AAOIFI20.5% Usmani40.3% Dow Jones Islamic23.4% S&P Shariah22.9% MSCI Islamic40.3% MSCI Islamic M-Series22.9% FTSE Shariah40.3% |
| OTIS Otis Worldwide Corp | NON_COMPLIANT | 1.51% | AAOIFI31.9% Usmani77.4% Dow Jones Islamic25.2% S&P Shariah25.0% MSCI Islamic77.4% MSCI Islamic M-Series25.0% FTSE Shariah73.7% |
| SRE Sempra | NON_COMPLIANT | 1.49% | AAOIFI65.2% Usmani32.7% Dow Jones Islamic66.4% S&P Shariah71.2% MSCI Islamic31.6% MSCI Islamic M-Series71.2% FTSE Shariah30.4% |
| AGNC Investment Corp | UNSCREENED | 1.48% | no in-house ratios for this holding |
| CTVA Corteva Inc | COMPLIANT | 1.45% | AAOIFI2.9% Usmani4.0% Dow Jones Islamic3.6% S&P Shariah3.9% MSCI Islamic4.0% MSCI Islamic M-Series3.9% FTSE Shariah4.0% |
| DT Dynatrace Inc | COMPLIANT | 1.44% | AAOIFI1.1% Usmani3.9% Dow Jones Islamic1.1% S&P Shariah1.1% MSCI Islamic3.9% MSCI Islamic M-Series1.1% FTSE Shariah0.0% |
| NFLX Netflix Inc | QUESTIONABLE | 1.36% | AAOIFI5.2% Usmani28.5% Dow Jones Islamic4.1% S&P Shariah4.7% MSCI Islamic28.5% MSCI Islamic M-Series4.7% FTSE Shariah24.5% |
| EXC Exelon Corp | NON_COMPLIANT | 1.28% | AAOIFI109.9% Usmani42.1% Dow Jones Islamic115.7% S&P Shariah124.5% MSCI Islamic42.1% MSCI Islamic M-Series124.5% FTSE Shariah42.1% |
| MDT Medtronic PLC | COMPLIANT | 1.24% | AAOIFI24.4% Usmani31.5% Dow Jones Islamic26.4% S&P Shariah27.4% MSCI Islamic31.4% MSCI Islamic M-Series27.4% FTSE Shariah30.2% |
| STZ Constellation Brands Inc | NON_COMPLIANT | 1.22% | AAOIFI49.1% Usmani49.0% Dow Jones Islamic38.2% S&P Shariah33.6% MSCI Islamic49.0% MSCI Islamic M-Series33.6% FTSE Shariah46.1% |
| BMY Bristol-Myers Squibb Co | NON_COMPLIANT | 1.20% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| TMUS T-Mobile US Inc | NON_COMPLIANT | 1.15% | AAOIFI18.0% Usmani17.5% Dow Jones Islamic14.6% S&P Shariah15.9% MSCI Islamic16.5% MSCI Islamic M-Series15.9% FTSE Shariah2.9% |
| GBCI Glacier Bancorp Inc | NON_COMPLIANT | 1.11% | AAOIFI0.8% Usmani0.3% Dow Jones Islamic0.9% S&P Shariah1.0% MSCI Islamic0.2% MSCI Islamic M-Series1.0% FTSE Shariah0.0% |
| CRM Salesforce Inc | COMPLIANT | 0.99% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| HB Fuller Co | UNSCREENED | 0.93% | no in-house ratios for this holding |
| HON Honeywell International Inc | NON_COMPLIANT | 0.88% | AAOIFI52.6% Usmani45.3% Dow Jones Islamic26.8% S&P Shariah27.3% MSCI Islamic45.2% MSCI Islamic M-Series27.3% FTSE Shariah43.9% |
| HONA Honeywell Aerospace Inc | COMPLIANT | 0.87% | AAOIFI32.8% Usmani83.4% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic83.4% MSCI Islamic M-Seriespass FTSE Shariah81.8% |
| WAFD WaFd Inc | NON_COMPLIANT | 0.85% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| IFX.DE Infineon Technologies AG | COMPLIANT | 0.82% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| INTU Intuit Inc | COMPLIANT | 0.75% | AAOIFI9.9% Usmani22.9% Dow Jones Islamic5.4% S&P Shariah5.3% MSCI Islamic22.9% MSCI Islamic M-Series5.3% FTSE Shariah20.8% |
| BellRing Brands Inc | UNSCREENED | 0.74% | no in-house ratios for this holding |
| EXE Expand Energy Corp | COMPLIANT | 0.58% | AAOIFI22.5% Usmani17.3% Dow Jones Islamic22.5% S&P Shariah27.7% MSCI Islamic17.3% MSCI Islamic M-Series27.7% FTSE Shariah17.0% |
| FDXF Fedex Freight Holding Co Inc | COMPLIANT | 0.41% | AAOIFI31.8% Usmani89.3% Dow Jones Islamic— S&P Shariah— MSCI Islamic89.3% MSCI Islamic M-Series— FTSE Shariah62.6% |
| First American Government Obli | UNSCREENED | 0.40% | no in-house ratios for this holding |
The published standards disagree about this fund by 19 points of portfolio weight — 67.9% of it passes Dow Jones Islamic, 48.6% passes MSCI Islamic. Which number is yours depends on which standard you follow.
These bars are the financial-ratio result under each standard — debt, receivables and interest income. They do not screen what the business does, so a holding can pass every ratio here and still be questionable or non-compliant on activity. The blended verdict above accounts for both.
ratios pass on 64.6% ratios fail on 20.0% 15.4% not rated under AAOIFI
ratios pass on 55.2% ratios fail on 24.3% 20.6% not rated under Usmani
ratios pass on 67.9% ratios fail on 16.3% 15.8% not rated under Dow Jones Islamic
ratios pass on 66.4% ratios fail on 17.8% 15.8% not rated under S&P Shariah
ratios pass on 48.6% ratios fail on 29.1% 22.4% not rated under MSCI Islamic
ratios pass on 66.4% ratios fail on 17.8% 15.8% not rated under MSCI Islamic M-Series
ratios pass on 60.3% ratios fail on 21.1% 18.7% not rated under FTSE Shariah
48 of 52 listed holdings carry our own per-methodology verdicts (96% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 41 (86% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| C Citigroup Inc | 3.23% |
| H Hyatt Hotels Corp | 2.39% |
| CI Cigna Group/The | 1.97% |
| RTX RTX Corp | 1.96% |
| CPT Camden Property Trust | 1.90% |
| PGR Progressive Corp/The | 1.90% |
| GS Goldman Sachs Group Inc/The | 1.84% |
| FDX FedEx Corp | 1.69% |
| GIL.TO Gildan Activewear Inc | 1.63% |
| OTIS Otis Worldwide Corp | 1.51% |
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Davidson Multi-Cap Equity Fund (DFMAX) is currently considered not halal (non-compliant), per our own look-through to its filed holdings. See its filed holdings and the weight breakdown below for the reasoning.
HTR reads the fund's filed holdings and screens each one, then reports the result by weight. A holding it cannot cover far enough is reported as unrated rather than counted as a pass.
| Holding | Weight | Verdict |
|---|---|---|
| NVDANVIDIA Corp | 5.82% | Compliant |
| GOOGAlphabet Inc | 5.61% | Questionable |
| AMZNAmazon.com Inc | 4.98% | Questionable |
| AAPLApple Inc | 4.50% | Compliant |
| MSFTMicrosoft Corp | 4.19% | Questionable |
| TSMTSMC | 3.88% | Compliant |
| AVGOBroadcom Inc | 3.58% | Compliant |
| CCitigroup Inc | 3.23% | Non-compliant |
| VVisa Inc | 2.67% | Compliant |
| HHyatt Hotels Corp | 2.39% | Non-compliant |
Top 10 of 52 holdings, 40.8% of the fund by weight. Every holding is screened, not only these.
The positions keeping this fund short of 100% compliant by weight.
Verdict history for DFMAX. A verdict that never moved is recorded too, so a quiet history reads as measured rather than missing.
ℹ️ no compliance scan has run for 5 days - this is not a reading of today
Pinch or scroll to zoom · drag to pan — both axes move · double-click to reset
This fund prices once a day, so its bars carry no intraday high or low — floor-trader pivots are not defined for it.
The range is measured volatility (ATR over the horizon), not a target — a wider band means a more volatile asset, not a stronger view. The direction is the indicator tally below. Every forecast is recorded when made and scored against the real price when it comes due, including the wrong ones. Not a recommendation, and not a fatwa.
Standard indicator thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20, MACD histogram sign, price vs. average) computed on daily bars. A summary of what common indicators say — not a recommendation, and not this site's own trading verdict.
| Indicator | Value | Signal |
|---|---|---|
| RSI (14) | 46.40 | NEUTRAL |
| Stochastic %K (14) | 44.57 | NEUTRAL |
| CCI (20) | -32.29 | NEUTRAL |
| Williams %R (14) | -55.43 | NEUTRAL |
| MACD (12,26,9) | 0.02 | BUY |
| ROC (10) | 0.32 | BUY |
| Momentum (10) | 0.12 | BUY |
| EMA (10) | 38.22 | SELL |
| SMA (10) | 38.31 | SELL |
| EMA (20) | 38.19 | SELL |
| SMA (20) | 38.12 | SELL |
| EMA (30) | 38.19 | SELL |
| SMA (30) | 38.13 | SELL |
| EMA (50) | 38.14 | SELL |
| SMA (50) | 38.36 | SELL |
| EMA (100) | 37.83 | BUY |
| SMA (100) | 37.92 | BUY |
| EMA (200) | 37.03 | BUY |
| SMA (200) | 36.97 | BUY |
Market structure by timeframe, read from real bars. A bias per timeframe rather than a forecast — timeframes disagreeing is information, not noise.
The questions worth asking about any verdict on this page, answered plainly.
No. HTR reads the fund's filed holdings and screens each one, then reports the result by weight. A fund marketed as Islamic still gets the same look-through as any other.
It is the share of the fund whose holdings HTR cannot cover far enough to rate. It is reported as unrated rather than counted as compliant, because a holding nobody screened should not look like one that passed.
It matters, and it is noted, but it does not replace the look-through. The board's judgement and the holdings screen are shown separately so you can see when they agree and when they do not.
When the fund files new holdings, and on a rolling basis besides. The date on the verdict above is the last time this fund was actually recomputed.
Open research, not a fatwa. HTR applies published screening standards to filings and publishes what they say, including when they disagree. Nothing here is financial advice or a recommendation to buy or sell. Verdicts can change when new filings land.
Same screen, different answers. Comparison is where the standards disagreeing becomes useful rather than confusing.
Peer screening computing — it will appear here on its own.
Plain-language summary of the evidence already on this page — the Sharia screen, structure, momentum, and order flow above. It explains the read; it doesn't make the call. Generated on demand (a live AI call), never run automatically.