# EDGAR Filing Document

**Accession Number:** 0001031008
**File Stem:** 0001162044-25-000909
**Filing Date:** 2025-8
**Character Count:** 22025
**Document Hash:** 11b1016d2a681ffe1d0f4c95ace4b1fc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001162044-25-000909.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001162044-25-000909

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20250630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AZZAD FUNDS
- **CENTRAL INDEX KEY:** 0001031008

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08021
- **FILM NUMBER:** 251268453

**BUSINESS ADDRESS:**
- **STREET 1:** 3141 FAIRVIEW PARK DRIVE
- **STREET 2:** SUITE 355
- **CITY:** FALLS CHURCH
- **STATE:** VA
- **ZIP:** 22042
- **BUSINESS PHONE:** 6306532666

**MAIL ADDRESS:**
- **STREET 1:** 3141 FAIRVIEW PARK DRIVE
- **STREET 2:** SUITE 355
- **CITY:** FALLS CHURCH
- **STATE:** VA
- **ZIP:** 22042

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ISLAMIA GROUP OF FUNDS
- **DATE OF NAME CHANGE:** 19970121

## Series and Classes Contracts Data

### Azzad Ethical Fund (Series ID: S000004763)

| Class ID   | Class Name         | Ticker Symbol   |
|:---|:---|:---|
| C000012956 | Azzad Ethical Fund | ADJEX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** AZZAD FUNDS

- **b. Investment Company Act file number:** 811-08021

- **c. CIK number of Registrant:** 0001031008

- **d. LEI of Registrant:** 549300VPHQXB2JY2TE69

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 3141 Fairview Park Drive

  - **City:** Falls Church

  - **State:** VA

  - **Foreign country:** US

  - **Zip / Postal Code:** 22042

  - **Telephone number:** 703-207-7005

**Item A.2. Information about the Series.**

- **a. Name of Series:** Azzad Ethical Fund

- **b. EDGAR series identifier (if any):** S000004763

- **c. LEI of Series:** 549300UP6SH6XKI13R82

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $143680885.04

**Total Liabilities:** $176640.50

**Net Assets:** $143504244.54

**Cash Not Reported:** $5340918.60

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012956 | -0.54%               | 7.46%                | 4.52%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2202447.59             | $1348537.65                                |
| Month 2  | $-1357690.71             | $11227320.85                               |
| Month 3  | $1593122.72              | $4704680.34                                |

### Schedule of Portfolio Investments

| Name                            | Title                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Howmet Aerospace, Inc.          | Howmet Aerospace, Inc.             | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     20665 | NS      | $3846376.45   | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems, Inc.             | Veeva Systems, Inc.                | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |     14340 | NS      | $4129633.20   | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology, Inc.          | Align Technology, Inc.             | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |     10293 | NS      | $1948773.69   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals, Inc.   | Alnylam Pharmaceuticals, Inc.      | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |      2590 | NS      | $844573.10    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Appfolio, Inc.                  | Appfolio, Inc. Class A             | CUSIP: 03783C100<br>LEI: 52990000UUGT6JFC0S15 | Long             | EC               | CORP              | US        |      5074 | NS      | $1168440.72   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Appolovin Corp.                 | Applovin Corp. Class A             | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      3580 | NS      | $1253286.40   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Bentley Systems, Inc.           | Bentley Systems, Inc. Class B      | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |     26531 | NS      | $1431878.07   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp.                | Bio-Techne Corp.                   | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |     34484 | NS      | $1774201.80   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings, Inc.        | Boot Barn Holdings, Inc.           | CUSIP: 099406100<br>LEI: 52900QE1BF17YA3N4E71 | Long             | EC               | CORP              | US        |     13705 | NS      | $2083160.00   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp.                       | CDW Corp.                          | CUSIP: 12514G108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9060 | NS      | $1618025.40   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems, Inc.    | Cadence Design Systems, Inc.       | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     18363 | NS      | $5658558.45   | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora, Inc.                   | Cencora, Inc.                      | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      5546 | NS      | $1662968.10   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearwater Analytics, Inc.      | Clearwater Analytics, Inc. Class a | CUSIP: 185123106<br>LEI: 254900UFQ8MMZNB3WK83 | Long             | EC               | CORP              | US        |     52012 | NS      | $1140623.16   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudfare, Inc.                 | Cloudfare, Inc. Class A            | CUSIP: 18915M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18188 | NS      | $3561756.04   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group, Inc.              | CoStar Group, Inc.                 | CUSIP: 22160N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61612 | NS      | $4953604.80   | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent, Inc.                  | Coherent, Inc.                     | CUSIP: 192479103<br>LEI: 549300RYOCKUMWACR010 | Long             | EC               | CORP              | US        |     21461 | NS      | $1914535.81   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart, Inc.                    | Copart, Inc.                       | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |     48093 | NS      | $2359923.51   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Corpay, Inc.                    | Corpay, Inc.                       | CUSIP: 219948106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7477 | NS      | $2481018.14   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog, Inc.                   | Datadog, Inc. Class A              | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |     24635 | NS      | $3309219.55   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp.      | Edwards Lifesciences Corp.         | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      3832 | NS      | $299700.72    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group, Inc.             | Expedia Group, Inc.                | CUSIP: 30212P303<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | EC               | CORP              | US        |      9782 | NS      | $1650027.76   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Factset Research Systems, Inc.  | Factset Research Systems, Inc.     | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | EC               | CORP              | US        |      3987 | NS      | $1783305.36   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co.                    | Fastenal Co.                       | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     89730 | NS      | $3768660.00   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings, Inc.    | Floor & Decor Holdings, Inc.       | CUSIP: 339750101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32367 | NS      | $2458597.32   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Healthcare Technology, Inc.  | GE Healthcare Technology, Inc.     | CUSIP: 36266G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28512 | NS      | $2111883.84   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings, Inc.          | Generac Holdings, Inc.             | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |     15727 | NS      | $2252263.67   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp.                     | HEICO Corp.                        | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |     15356 | NS      | $3973365.00   | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Hologic, Inc.                   | Hologic, Inc.                      | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |     28978 | NS      | $1888206.48   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| HubSpot, Inc.                   | HubSpot, Inc.                      | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |      4589 | NS      | $2554375.07   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories, Inc.        | IDEXX Laboratories, Inc.           | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      8630 | NS      | $4628614.20   | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems, Inc.   | Inspire Medical Systems, Inc.      | CUSIP: 457730109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10951 | NS      | $1421111.27   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corp.                   | Insulet Corp.                      | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |     11106 | NS      | $3489283.08   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Itron, Inc.                     | Itron, Inc.                        | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | EC               | CORP              | US        |     10576 | NS      | $1392118.88   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp.                       | KLA Corp.                          | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      3775 | NS      | $3381418.50   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp.     | Lattice Semiconductor Corp.        | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |     27810 | NS      | $1362411.90   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Electric Holdings, Inc. | Lincoln Electric Holdings, Inc.    | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |     11541 | NS      | $2392680.12   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Macom Technology Solutions      | Macom Technology Solutions         | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10293 | NS      | $1474883.97   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials, Inc. | Martin Marietta Materials, Inc.    | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |      4416 | NS      | $2424207.36   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems, Inc.  | Monolithic Power Systems, Inc.     | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      4086 | NS      | $2988418.68   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta, Inc.                   | Novanta, Inc.                      | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     14471 | NS      | $1865746.03   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line, Inc. | Old Dominion Freight Line, Inc.    | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |     12227 | NS      | $1984442.10   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Holding AG                   | ON Holding AG                      | CUSIP: H5919C104<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |     46863 | NS      | $2439219.15   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corp.         | Paylocity Holding Corp.            | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |      9590 | NS      | $1737612.10   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest, Inc.                 | Pinterest, Inc.                    | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     53177 | NS      | $1906927.22   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp.                      | Pool Corp.                         | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |      8606 | NS      | $2508476.88   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services, Inc.           | Quanta Services, Inc.              | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |     14703 | NS      | $5558910.24   | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corp.                  | Repligen Corp.                     | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |     16651 | NS      | $2071051.38   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Rollins, Inc.                   | Rollins, Inc.                      | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |     44538 | NS      | $2512833.96   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Sharkninja, Inc.                | Sharkninja, Inc.                   | CUSIP: G8068L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20894 | NS      | $2068297.06   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake, Inc.                 | Snowflake, Inc. Class A            | CUSIP: 833445109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11215 | NS      | $2509580.55   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp.           | Targa Resources Corp.              | CUSIP: 87612G101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8615 | NS      | $1499699.20   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| The Trade Desk, Inc.            | The Trade Desk, Inc. Class A       | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |     27823 | NS      | $2002977.77   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Toast, Inc.                     | Toast, Inc. Class A                | CUSIP: 888787108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32775 | NS      | $1451604.75   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Tractor Supply Co.              | Tractor Supply Co.                 | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |     39588 | NS      | $2089058.76   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co., Inc.                  | Trex Co., Inc                      | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38230 | NS      | $2078947.40   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Trimble, Inc.                   | Trimble, Inc.                      | CUSIP: 896239100<br>LEI: 549300E2MI7NSZFQWS19 | Long             | EC               | CORP              | US        |     40771 | NS      | $3097780.58   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies, Inc.        | Tyler Technologies, Inc.           | CUSIP: 902252105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5131 | NS      | $3041862.04   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Waystar Holding Corp.           | Waystar Holding Corp.              | CUSIP: 946784105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24365 | NS      | $995797.55    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Azzad Funds

**Signature:** /s/ Bashar Qasem

**Name of Signer:** Bashar Qasem

**Title:** Chairman and Treasurer