Verdicts genuinely change. Free email alert the moment TEXX'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.
Horizon Kinetics Texas ETF · Listed Funds Trust
33 holdings · as of 2026-06-30 (3.6 months ago) The fund may have traded since. SEC Form N-PORT is filed quarterly and lags the period it covers, so these are the most recent holdings on file, not the fund’s holdings today.
NON-COMPLIANT 26.25% of portfolio weight is in non-compliant holdings, over the 5% threshold.
33 holdings, 25 matched (75% of weight). Portfolio as of 2026-06-30, filed 2026-08-26. Source: SEC Form N-PORT.
0.20% of this portfolio’s income is non-permissible — weighted across holdings, computed over 62% of portfolio weight (20 of 33 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.
48.6% compliant 0.0% questionable 26.3% non-compliant 25.1% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| LB Landbridge Co LLC | COMPLIANT | 7.22% | AAOIFI8.0% Usmani38.9% Dow Jones Islamic10.9% S&P Shariahpass MSCI Islamic38.9% MSCI Islamic M-Seriespass FTSE Shariah38.9% |
| US BANK MMDA - USBGFS 7 | UNSCREENED | 7.18% | no in-house ratios for this holding |
| PBT Permian Basin Royalty Trust | COMPLIANT | 6.97% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| TPL Texas Pacific Land Corp | COMPLIANT | 5.25% | AAOIFI0.1% Usmani0.8% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.8% MSCI Islamic M-Series0.1% FTSE Shariah0.0% |
| FANG Diamondback Energy Inc | COMPLIANT | 4.11% | AAOIFI22.6% Usmani18.0% Dow Jones Islamic28.3% S&P Shariah31.9% MSCI Islamic18.0% MSCI Islamic M-Series31.9% FTSE Shariah18.0% |
| WBI WaterBridge Infrastructure LLC | NON_COMPLIANT | 4.08% | AAOIFI39.9% Usmani41.2% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic41.2% MSCI Islamic M-Seriesfail FTSE Shariah41.0% |
| PWR Quanta Services Inc | COMPLIANT | 4.01% | AAOIFI6.9% Usmani23.3% Dow Jones Islamic10.1% S&P Shariah12.1% MSCI Islamic23.3% MSCI Islamic M-Series12.1% FTSE Shariah21.5% |
| SLB Ltd | UNSCREENED | 3.48% | no in-house ratios for this holding |
| FLR Fluor Corp | NON_COMPLIANT | 3.18% | AAOIFI15.0% Usmani14.2% Dow Jones Islamic14.5% S&P Shariah15.0% MSCI Islamic14.2% MSCI Islamic M-Series15.0% FTSE Shariah14.2% |
| EOG EOG Resources Inc | COMPLIANT | 3.18% | AAOIFI10.8% Usmani15.1% Dow Jones Islamic12.6% S&P Shariah12.5% MSCI Islamic15.1% MSCI Islamic M-Series12.5% FTSE Shariah14.5% |
| Plains All American Pipeline L | UNSCREENED | 3.10% | no in-house ratios for this holding |
| LGI Homes Inc | UNSCREENED | 3.09% | no in-house ratios for this holding |
| OXY Occidental Petroleum Corp | NON_COMPLIANT | 2.99% | AAOIFI24.4% Usmani19.4% Dow Jones Islamic31.4% S&P Shariah30.3% MSCI Islamic18.2% MSCI Islamic M-Series30.3% FTSE Shariah17.1% |
| KMI Kinder Morgan Inc | NON_COMPLIANT | 2.98% | AAOIFI46.1% Usmani43.5% Dow Jones Islamic53.0% S&P Shariah61.2% MSCI Islamic43.5% MSCI Islamic M-Series61.2% FTSE Shariah43.5% |
| Enterprise Products Partners L | UNSCREENED | 2.92% | no in-house ratios for this holding |
| CNP CenterPoint Energy Inc | NON_COMPLIANT | 2.92% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| ET Energy Transfer LP | NON_COMPLIANT | 2.86% | AAOIFI94.8% Usmani47.4% Dow Jones Islamic120.8% S&P Shariah134.5% MSCI Islamic47.4% MSCI Islamic M-Series134.5% FTSE Shariah46.2% |
| XOM Exxon Mobil Corp | COMPLIANT | 2.85% | AAOIFI6.5% Usmani9.1% Dow Jones Islamic8.5% S&P Shariah9.0% MSCI Islamic9.1% MSCI Islamic M-Series9.0% FTSE Shariah9.1% |
| COP ConocoPhillips | COMPLIANT | 2.83% | AAOIFI14.4% Usmani18.7% Dow Jones Islamic19.1% S&P Shariah18.8% MSCI Islamic18.7% MSCI Islamic M-Series18.8% FTSE Shariah18.7% |
| KMB Kimberly-Clark Corp | COMPLIANT | 2.81% | AAOIFI18.7% Usmani35.1% Dow Jones Islamic17.1% S&P Shariah17.0% MSCI Islamic35.1% MSCI Islamic M-Series17.0% FTSE Shariah35.1% |
| SBR Sabine Royalty Trust | COMPLIANT | 2.80% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| DR Horton Inc | UNSCREENED | 2.76% | no in-house ratios for this holding |
| CVX Chevron Corp | COMPLIANT | 2.72% | AAOIFI0.1% Usmani0.1% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.1% MSCI Islamic M-Series0.1% FTSE Shariah0.1% |
| VST Vistra Corp | NON_COMPLIANT | 2.63% | AAOIFI39.4% Usmani46.0% Dow Jones Islamic36.7% S&P Shariah46.3% MSCI Islamic46.0% MSCI Islamic M-Series46.3% FTSE Shariah46.0% |
| NRG NRG Energy Inc | NON_COMPLIANT | 2.54% | AAOIFI85.9% Usmani53.8% Dow Jones Islamic81.4% S&P Shariah98.7% MSCI Islamic53.8% MSCI Islamic M-Series98.7% FTSE Shariah53.3% |
| Commercial Metals Co | UNSCREENED | 2.18% | no in-house ratios for this holding |
| GRBK Green Brick Partners Inc | COMPLIANT | 1.96% | AAOIFI11.1% Usmani12.4% Dow Jones Islamic11.0% S&P Shariah11.6% MSCI Islamic12.4% MSCI Islamic M-Series11.6% FTSE Shariah12.4% |
| TPG TPG Inc | NON_COMPLIANT | 1.68% | AAOIFI11.6% Usmani16.7% Dow Jones Islamic11.8% S&P Shariah13.1% MSCI Islamic16.7% MSCI Islamic M-Series13.1% FTSE Shariah16.7% |
| EROK EagleRock Land LLC | UNRATED | 1.48% | AAOIFI10.6% Usmani16.8% Dow Jones Islamic— S&P Shariah— MSCI Islamic16.8% MSCI Islamic M-Series— FTSE Shariah16.7% |
| LNG Cheniere Energy Inc | NON_COMPLIANT | 0.40% | AAOIFI44.4% Usmani55.8% Dow Jones Islamic54.4% S&P Shariah58.8% MSCI Islamic55.8% MSCI Islamic M-Series58.8% FTSE Shariah50.6% |
| CPRT Copart Inc | COMPLIANT | 0.39% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| Fermi Inc | UNSCREENED | 0.38% | no in-house ratios for this holding |
| CRT Cross Timbers Royalty Trust | COMPLIANT | 0.05% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
The published standards disagree about this fund by 15 points of portfolio weight — 44.8% of it passes S&P Shariah, 29.4% passes Usmani. 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 43.1% ratios fail on 18.7% 38.2% not rated under AAOIFI
ratios pass on 29.4% ratios fail on 28.7% 41.9% not rated under Usmani
ratios pass on 41.6% ratios fail on 18.7% 39.7% not rated under Dow Jones Islamic
ratios pass on 44.8% ratios fail on 15.5% 39.7% not rated under S&P Shariah
ratios pass on 33.1% ratios fail on 28.7% 38.2% not rated under MSCI Islamic
ratios pass on 41.6% ratios fail on 18.7% 39.7% not rated under MSCI Islamic M-Series
ratios pass on 33.1% ratios fail on 28.7% 38.2% not rated under FTSE Shariah
25 of 33 listed holdings carry our own per-methodology verdicts (75% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 20 (62% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| WBI WaterBridge Infrastructure LLC | 4.08% |
| FLR Fluor Corp | 3.18% |
| OXY Occidental Petroleum Corp | 2.99% |
| KMI Kinder Morgan Inc | 2.98% |
| CNP CenterPoint Energy Inc | 2.92% |
| ET Energy Transfer LP | 2.86% |
| VST Vistra Corp | 2.63% |
| NRG NRG Energy Inc | 2.54% |
| TPG TPG Inc | 1.68% |
| LNG Cheniere Energy Inc | 0.40% |
Methodology breakdown computing — it will appear here on its own.
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
The factors behind the read, each shown with the figure it rests on, including the ones pointing the other way.
Horizon Kinetics Texas ETF (TEXX) 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.
Computing the full ratio and business-activity breakdown for TEXX — this runs off the critical path so the page paints first. It will appear here on its own.
Pinch or scroll to zoom · drag to pan — both axes move · double-click to reset
Classic floor-trader pivots from the last completed daily bar. Highlighted pills are the levels bracketing the current price.
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) | 51.00 | NEUTRAL |
| Stochastic %K (14) | 73.06 | NEUTRAL |
| CCI (20) | 62.54 | NEUTRAL |
| Williams %R (14) | -26.94 | NEUTRAL |
| MACD (12,26,9) | 0.09 | BUY |
| ROC (10) | 3.11 | BUY |
| Momentum (10) | 0.89 | BUY |
| EMA (10) | 29.57 | BUY |
| SMA (10) | 29.62 | BUY |
| EMA (20) | 29.55 | BUY |
| SMA (20) | 29.28 | BUY |
| EMA (30) | 29.61 | BUY |
| SMA (30) | 29.66 | BUY |
| EMA (50) | 29.63 | BUY |
| SMA (50) | 29.94 | SELL |
| EMA (100) | 29.33 | BUY |
| SMA (100) | 29.42 | BUY |
| EMA (200) | 28.65 | BUY |
The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing primarily in the equity securities of Texas companies. Under normal circumstances, at least 80% of the fund’s net assets (plus any borrowings for investment purposes) will be invested in securities of Texas companies. The fund is non-diversified.
Background via Yahoo Finance — informational, not part of the verdict.
Average — needs more confirmation before sizing up
Market structure by timeframe, read from real bars. A bias per timeframe rather than a forecast — timeframes disagreeing is information, not noise.
| Timeframe | Bias | Bars |
|---|---|---|
| 📅 Daily | BEARISH | 42 |
Rate of change and relative volume against this symbol's own recent history. Momentum describes what price has done; it is not a claim about what it will do.
How the rest of the sector moved over the same window. Context for a price move, never a cause of one.
Peer movement computing — it will appear here on its own.
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.
Insider transactions reported in the last ninety days. Insiders sell for reasons that have nothing to do with a view, so a sale on its own is not a signal.
NO DATA 0 buys · 0 sells
The weekly CFTC Commitments of Traders report for the broad market it tracks, not for this symbol. Positioning context for the tape — it says nothing about this company.
NEUTRAL report date 2026-10-13 · Asset managers net 915835 (+9220)
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.