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AAOIFI No. 21

Blocked categories

Under AAOIFI Shari'ah Standard No. 21, our screener excludes the following business activities outright. This list isn't hand-written — it's read live from the screener itself.

5 529

Universe screened

1 454

Halal

3 653

Rejected

296

Doubtful

125

Undetermined

Last checked: 16 October 2026

1. Automatic block by business activity

If a company's industry falls into this list, it's rejected regardless of its financial ratios.

Banks

Core revenue is interest-based lending — riba.

Conventional insurance

Built on riba and gharar (trading in uncertainty).

Health insurance plans

The industry is labelled «Healthcare Plans», but in substance it is conventional insurance.

Credit services

Credit cards, microloans, consumer credit — interest.

Mortgage

Originating or servicing interest-bearing home loans.

Mortgage REITs

Portfolio consists of interest-bearing mortgage paper.

Conventional asset management

Revenue comes from managing bond/interest-bearing funds. Closed-end funds sit here too — they're portfolios, not operating companies.

SPACs / shell companies

No real business; the cash sits in trust earning interest. The ratio test misses them — trust cash isn't reported as «cash».

Alcohol

Brewing, wine, spirits — production and sale.

Tobacco

Cigarettes and tobacco products.

Gambling and casinos

Maysir — casinos, bookmakers, gambling platforms.

Adult content

Pornography and related services.

2. Doubtful (requires a scholarly ruling)

These industries mix permissible and impermissible business, or scholars disagree. We don't falsely label them «haram», but we don't include them among halal stocks either.

Aerospace and defense

Weapons manufacturing shares an industry with civil aviation. Confirmed weapons makers are blocked outright by hand.

REITs (real-estate trusts)

Rental income itself is permissible, but most REITs run on interest-bearing debt — scholars disagree.

Capital markets

Brokers and exchanges (often permissible) share an industry with conventional investment banks (riba).

Resorts and casinos

Pure resorts/timeshare (ski, hotels) share an industry with casinos. Confirmed casino operators are blocked outright by hand.

Financial conglomerates

May hide a banking or insurance segment inside — segment revenue is needed and it can't be decided automatically.

3. Hidden cases found by manual review

Some impermissible activity isn't visible from the industry label — a pork producer sits under «Packaged Foods», a weapons maker under «Aerospace & Defense». Segment revenue isn't disclosed, so we review these by hand and record them.

214 stocks blocked manually

  • TSNHaramPork (pork segment > 5%)
  • HRLHaramPork (Hormel — SPAM/pork)
  • SFDHaramPork (Smithfield — the largest pork producer)
  • SEBHaramPork (Seaboard — pork)
  • BRFSHaramPork (BRF — pork)
  • BRIDHaramPork (Bridgford — pepperoni/snack meat)
  • LMTHaramWeapons manufacturing (Lockheed Martin)
  • RTXHaramWeapons manufacturing (RTX / Raytheon)
  • NOCHaramWeapons manufacturing (Northrop Grumman)
  • GDHaramWeapons manufacturing (General Dynamics)
  • LHXHaramWeapons manufacturing (L3Harris)
  • HIIHaramWeapons manufacturing (Huntington Ingalls)
  • BAHaramWeapons manufacturing (Boeing — defense segment ~35%)
  • TXTHaramWeapons manufacturing (Textron — Bell/Systems military)
  • OSKHaramWeapons manufacturing (Oshkosh — JLTV military vehicles)
  • KTOSHaramWeapons manufacturing (Kratos — drones/missiles)
  • AVAVHaramWeapons manufacturing (AeroVironment — military drones)
  • BWXTHaramWeapons/military (BWX — naval nuclear reactors)
  • CWHaramWeapons/military (Curtiss-Wright — defense ~50%)
  • OLNHaramAmmunition (Olin — Winchester)
  • POWWHaramAmmunition (AMMO Inc)
  • SWBIHaramWeapons manufacturing (Smith & Wesson)
  • RGRHaramWeapons manufacturing (Sturm Ruger)
  • AXONHaramWeapons (Axon — Taser)
  • BOCHaramConventional insurance (Boston Omaha — surety, ~22% of revenue >> 5%)
  • CMEHaramConventional exchange — interest-rate derivatives/futures (riba, gharar)
  • ICEHaramConventional exchange + mortgage technology (riba)
  • NDAQHaramConventional exchange (Nasdaq — riba/derivatives trading)
  • COINHaramCrypto exchange — staking/margin interest
  • NRDSHaramMarketing of interest-bearing products (NerdWallet — credit cards/loans)
  • ZHaramMortgage origination + marketing of interest products (Zillow — 7.7% per 10-K > 5%)
  • ZGHaramMortgage origination + marketing of interest products (Zillow — 7.7% per 10-K > 5%)
  • GENIHaramGambling infrastructure (Genius Sports — sports data for bookmakers)
  • TTWOHaramSocial casino (Take-Two → Zynga: poker/slots) — gambling
  • LVSHaramCasino operator (Las Vegas Sands)
  • WYNNHaramCasino operator (Wynn Resorts)
  • MGMHaramCasino operator (MGM Resorts)
  • CZRHaramCasino operator (Caesars Entertainment)
  • BYDHaramCasino operator (Boyd Gaming)
  • PENNHaramCasino operator (PENN Entertainment)
  • BALYHaramCasino operator (Bally's)
  • RRRHaramCasino operator (Red Rock Resorts)
  • MLCOHaramCasino operator (Melco Resorts — Macau)
  • MSCHaramCasino operator (Studio City — Macau)
  • CNTYHaramCasino operator (Century Casinos)
  • FLLHaramCasino operator (Full House Resorts)
  • MCRIHaramCasino operator (Monarch Casino & Resort)
  • CPHCHaramGambling (Canterbury Park — poker/casino + horse-race betting)
  • EVERHaramInsurance marketplace (EverQuote — the whole business is insurance lead-gen)
  • SDAHaramConventional auto-insurance intermediation (SunCar — 43.4% per 20-F >> 5%)
  • MAXHaramInsurance marketplace (MediaAlpha — insurance customer acquisition)
  • OPLNHaramFloorplan lending (OPENLANE/AFC — riba, ~20%+ of revenue)
  • MELIHaramCredit revenue (Mercado Credito — interest, 20.3% per 10-K >> 5%)
  • SEHaramLending interest (Monee — ~14.4% per 20-F ASC 606 residual >> 5%) + loot boxes
  • NFLXDoubtfulDoubtful: film/TV production (scholarly disagreement — imagery/content)
  • DISDoubtfulDoubtful: film studio (Disney — Entertainment is the largest segment)
  • IMAXDoubtfulDoubtful: cinema exhibition/technology (pure cinema business)
  • ANGXDoubtfulDoubtful: film studio (Angel Studios — family/faith content)
  • CURIDoubtfulDoubtful: documentary streaming (CuriosityStream — film medium)
  • GAIADoubtfulDoubtful: streaming + non-Islamic spirituality content
  • SPOTDoubtfulDoubtful: music streaming (musical instruments — prohibited per majority Hanafi view)
  • LLYVADoubtfulDoubtful: concerts/music (Liberty Live — Live Nation stake)
  • WMGDoubtfulDoubtful: record label and music publishing (~100% of revenue is music) — same treatment as SPOT
  • LLYVKDoubtfulDoubtful: concerts/music (Liberty Live — Live Nation stake)
  • MANUDoubtfulDoubtful: bookmaker (Betfred/Parimatch/HK Jockey) and alcohol sponsors — share not measurable
  • CARGDoubtfulDoubtful: paid per funded interest-bearing loan (share not disclosed)
  • PGNYDoubtfulDoubtful: donor/surrogacy coverage + a new fully-insured segment (share not measurable)
  • TKODoubtfulDoubtful: betting integrated into every broadcast (bet365/Polymarket) + alcohol sponsor; share not disclosed
  • CASYHaramTobacco ~9% of revenue (10-K) — above the 5% limit; beer in 88% of stores
  • DASHDoubtfulDoubtful: alcohol delivery is a promoted vertical — share not disclosed
  • KXINDoubtfulDoubtful: dealer financing/insurance services (riba) — share not disclosed
  • NIPGDoubtfulDoubtful: gambling-operator sponsorship (Betway) + main revenue now crypto mining
  • BATRADoubtfulDoubtful: stadium/mixed-use alcohol sales + betting sponsorships — share not disclosed
  • BATRKDoubtfulDoubtful: stadium/mixed-use alcohol sales + betting sponsorships — share not disclosed (same company as BATRA)
  • WNWDoubtfulDoubtful: alcohol is a listed product category on the food platform — share not disclosed
  • EADoubtfulDoubtful: loot boxes (Ultimate Team ~25% of revenue) — maysir mechanics
  • CVNADoubtfulDoubtful: auto-loan income ~6-7% (riba, close to the 5% limit)
  • VIKHaramCruise — alcohol (Viking)
  • TLRYHaramCannabis (Tilray — intoxicant)
  • CGCHaramCannabis (Canopy Growth)
  • ACBHaramCannabis (Aurora Cannabis)
  • CRONHaramCannabis (Cronos Group)
  • SNDLHaramCannabis (SNDL)
  • OGIHaramCannabis (Organigram)
  • VFFHaramCannabis (Village Farms — Pure Sunfarms segment)
  • MAMAHaramPork (product line explicitly lists 'pork varieties')
  • GMHSHaramSocial casino (social casino/bingo games) — company's own published portfolio, same pattern as TTWO/Zynga
  • RBLXDoubtfulDoubtful: platform-wide paid loot-box/gacha mechanics (chest/random reward) — share not disclosed
  • GDEVDoubtfulDoubtful: flagship game (Hero Wars) has paid gacha/chest mechanics (officially published drop rates) — share not disclosed
  • FWONADoubtfulDoubtful: Betway/FanDuel are F1's OFFICIAL betting operators (live in-play wagering), + Heineken title sponsor (alcohol); share not disclosed
  • FWONKDoubtfulDoubtful: Betway/FanDuel are F1's OFFICIAL betting operators (live in-play wagering), + Heineken title sponsor (alcohol); share not disclosed (same company as FWONA)
  • MSGSDoubtfulDoubtful: DraftKings/BetMGM — MSG arena's official betting partner + arena alcohol sales; share not disclosed
  • GAMEDoubtfulDoubtful: Complexity Gaming (GameSquare) runs an ad campaign for a betting platform (Buddybet) — sponsorship share not disclosed
  • JZXNDoubtfulDoubtful: new 'digital asset finance / Bitcoin-focused financial services' line (riba risk) — share unclear
  • FLZHDoubtfulDoubtful: cricket league sponsorship/broadcasting — betting sponsorship is common practice in regional T20 leagues, no confirmed sponsor list found
  • AOUTHaramFirearm-ecosystem products (ammunition reloading, gunsmithing, aiming devices) — still sold under the Smith & Wesson brand
  • BHSTHaramCannabis (an active cannabis cell reservoir already in production — same pattern as VFF/TLRY)
  • UZXDoubtfulDoubtful: plans to integrate a DAO token/digital-asset ecosystem into the core platform — nature not yet clear
  • PTLEDoubtfulDoubtful: new Hong Kong money-lending license/platform (riba risk) — share not yet disclosed
  • CASTHaramTobacco marketing (FreeCast — 'Cigar TV' channel for the CEO's own cigar company, ~38% of revenue)
  • CARTDoubtfulDoubtful: alcohol is a named category (Instacart — cited in the 10-K), share not disclosed
  • CTWDoubtfulDoubtful: gacha mechanics (CTW/G123 — 'random digital item mechanics', 100% of revenue from player top-ups)
  • COOTDoubtfulDoubtful: the food business is being sold off, replaced by rent-guarantee (financial services) — nature and share unclear
  • WSHPDoubtfulDoubtful: affiliate commission is earned on the whole basket — partners include an adult retailer and supermarkets, share not measurable
  • CNNEHaramAlcohol production (Minden Mill whiskey distillery) + conventional insurance and asset management (AmeriLife, JANA)
  • CALYDoubtfulDoubtful: retains a 40% stake in Topgolf — venues run full bars; equity-method, so the share is invisible in revenue
  • SRXHDoubtfulDoubtful: pivot to a crypto treasury/investment platform (1,352 ETH, EMJX) + interest-bearing notes — share not yet clear
  • TWGHaramAlcohol is 65.7% of revenue (Top Wealth Group — Hong Kong wine/caviar trader)
  • ACVADoubtfulDoubtful: dealer floorplan lending exists ($180.5M receivables), but the interest-income share is undisclosed + 10.7% guarantee revenue
  • NXHDoubtfulDoubtful: the 'Neighborhood Intelligence' pivot makes mortgages/HELOCs, a credit union and conventional insurance a DECLARED second pillar (Fathom/Encompass Lending deal), but its revenue share is not yet measurable
  • CCHHHaramPork (pork stomach claypot and Iberico pork ribs on the menu; outlets listed as 'Non-Halal')
  • GPUSHaramLending (Ault Lending — private credit, ~22% of revenue) + weapons systems (Gresham — missile launch, electronic warfare, counter-IED)
  • ONFODoubtfulDoubtful: crypto-treasury pivot ($300M note facility, 75% earmarked for BTC/ETH/SOL, staking yield) — share not yet clear
  • SLEDoubtfulDoubtful: Metaplanet is taking 95.7% to turn it into 'Superplanet', a Bitcoin-treasury platform (2,100 BTC, Q4 2026) — structure not yet clear
  • TRUGDoubtfulDoubtful: TruGolf Links franchise venues with a full bar (cocktails/wine/beer) and 'gaming machines'; royalty share not yet measurable
  • AZIDoubtfulDoubtful: insurance agency 'temporarily suspended' (0% FY25, 2.6% FY23) + loan facilitation/factoring services — finance revenue share not disclosed
  • SGADoubtfulDoubtful: music-format radio (~70 of 112 stations) — same treatment as SPOT (musical instruments per Hanafi view)
  • WLTHHaramInterest income: the spread on client cash balances is ~75% of revenue (Wealthfront)
  • CRCLHaramInterest income: yield on USDC reserves (US Treasuries) is nearly all revenue (Circle)
  • BLSHHaramCrypto exchange — margin/derivatives trading (Bullish; same as COIN)
  • LEGHHaramLending interest: in-house consumer and dealer loans are ~25% of revenue (Legacy Housing)
  • NPKHaramAmmunition manufacturing (National Presto — AMTEC 40 mm grenades, defense segment ~70%)
  • XTNDHaramWeapons manufacturing (XTEND — combat military drones/robots)
  • SWMRHaramWeapons systems (Swarmer — military drone-swarm control software)
  • BYRNHaramWeapons (Byrna — less-lethal launchers; same treatment as AXON/Taser)
  • GLASHaramCannabis (Glass House — California grower; labeled 'Drug Manufacturers')
  • AKANHaramCannabis (Akanda — medical cannabis cultivation/sales)
  • MSTRDoubtfulDoubtful: crypto — Bitcoin treasury (Strategy — the largest corporate BTC holder); scholarly disagreement + share/interest nature unclear
  • XXIDoubtfulDoubtful: crypto — Bitcoin treasury (Twenty One Capital — Tether/Cantor); scholarly disagreement + share/interest nature unclear
  • BMNRDoubtfulDoubtful: crypto — Ether treasury (BitMine — the largest ETH holder); scholarly disagreement + share/interest nature unclear
  • SBETDoubtfulDoubtful: crypto — Ether treasury (SharpLink) + legacy sportsbook-affiliate unit; scholarly disagreement + share/interest nature unclear
  • SORADoubtfulDoubtful: crypto — Bitcoin treasury + BTC-collateralised lending (AsiaStrategy); scholarly disagreement + share/interest nature unclear
  • SLMTDoubtfulDoubtful: crypto — Solana treasury/staking (Sol Strategies); scholarly disagreement + share/interest nature unclear
  • HODODoubtfulDoubtful: crypto — Dogecoin treasury (CleanCore); scholarly disagreement + share/interest nature unclear
  • GNSDoubtfulDoubtful: crypto — Bitcoin treasury (Genius Group); scholarly disagreement + share/interest nature unclear
  • BNKKDoubtfulDoubtful: crypto — BONK token reserve + LetsBonk.fun revenue share (the 'Beverages' label is stale); scholarly disagreement + share/interest nature unclear
  • NXTTDoubtfulDoubtful: crypto — Bitcoin treasury (Next Technology — 5,000+ BTC); scholarly disagreement + share/interest nature unclear
  • ORBSDoubtfulDoubtful: crypto — WLD/ETH treasury (Eightco; the 'Packaging' label is stale); scholarly disagreement + share/interest nature unclear
  • BNCDoubtfulDoubtful: crypto — BNB treasury (CEA Industries; the 'Farm Machinery' label is stale); scholarly disagreement + share/interest nature unclear
  • BKKTDoubtfulDoubtful: crypto — Crypto trading/custody platform (Bakkt); scholarly disagreement + share/interest nature unclear
  • BGINDoubtfulDoubtful: crypto — Bitcoin mining rigs and mining (Bgin Blockchain); scholarly disagreement + share/interest nature unclear
  • CANDoubtfulDoubtful: crypto — Bitcoin mining rigs and mining (Canaan); scholarly disagreement + share/interest nature unclear
  • KULRDoubtfulDoubtful: crypto — Bitcoin treasury + mining (KULR); scholarly disagreement + share/interest nature unclear
  • ZSQRDoubtfulDoubtful: crypto — DOGE/LTC mining (ZeroSquare); scholarly disagreement + share/interest nature unclear
  • BTCTDoubtfulDoubtful: crypto — Bitcoin mining (BTC Digital); scholarly disagreement + share/interest nature unclear
  • OLBDoubtfulDoubtful: crypto — Bitcoin-mining unit (OLB Group); scholarly disagreement + share/interest nature unclear
  • SKYADoubtfulDoubtful: crypto — Stablecoin finance platform (Skyline); scholarly disagreement + share/interest nature unclear
  • DVLTDoubtfulDoubtful: crypto — Asset-tokenization platform (Datavault); scholarly disagreement + share/interest nature unclear
  • SECZDoubtfulDoubtful: crypto — Tokenization platform — tokenized money-market funds (Securitize); scholarly disagreement + share/interest nature unclear
  • ABTCDoubtfulDoubtful: crypto — Bitcoin mining + treasury (American Bitcoin); scholarly disagreement + share/interest nature unclear
  • BRRDoubtfulDoubtful: crypto — Bitcoin treasury (ProCap); scholarly disagreement + share/interest nature unclear
  • USDEDoubtfulDoubtful: crypto — ENA token treasury (StablecoinX); scholarly disagreement + share/interest nature unclear
  • FUFUDoubtfulDoubtful: crypto — Crypto-treasury pivot (BitFuFu); scholarly disagreement + share/interest nature unclear
  • DEFTDoubtfulDoubtful: crypto — DeFi/crypto treasury (DeFi Technologies); scholarly disagreement + share/interest nature unclear
  • EXODDoubtfulDoubtful: crypto — Crypto wallet — swap fees (Exodus); scholarly disagreement + share/interest nature unclear
  • USBCDoubtfulDoubtful: crypto — Digital-finance pivot (formerly Know Labs); scholarly disagreement + share/interest nature unclear
  • DCXDoubtfulDoubtful: crypto — Crypto pivot (formerly Chijet Motor); scholarly disagreement + share/interest nature unclear
  • STEXDoubtfulDoubtful: crypto — Tokenization pivot (formerly BioSig); scholarly disagreement + share/interest nature unclear
  • PURRDoubtfulDoubtful: crypto — HYPE token treasury (Hyperliquid Strategies); scholarly disagreement + share/interest nature unclear
  • RIOTDoubtfulDoubtful: crypto — Bitcoin mining (Riot Platforms); scholarly disagreement + share/interest nature unclear
  • IONDDoubtfulDoubtful: crypto — Bitcoin mining (IonDrive); scholarly disagreement + share/interest nature unclear
  • TAOXDoubtfulDoubtful: crypto — TAO token treasury/staking (TAO Synergies); scholarly disagreement + share/interest nature unclear
  • AIXCDoubtfulDoubtful: crypto — AI + blockchain/token platform (AIX); scholarly disagreement + share/interest nature unclear
  • QNTMDoubtfulDoubtful: crypto — Also holds a Bitcoin treasury (Quantum BioPharma); scholarly disagreement + share/interest nature unclear
  • VIVODoubtfulDoubtful: crypto — XRP treasury (Vivos; the 'Software' label is stale); scholarly disagreement + share/interest nature unclear
  • DTCXDoubtfulDoubtful: crypto — Scrypt mining (DTCX; the 'Financial Data' label is stale); scholarly disagreement + share/interest nature unclear
  • CANGDoubtfulDoubtful: crypto — Bitcoin mining (Cango; the 'Capital Markets' label is stale); scholarly disagreement + share/interest nature unclear
  • ARBKDoubtfulDoubtful: crypto — Bitcoin mining (Argo Blockchain); scholarly disagreement + share/interest nature unclear
  • ANYDoubtfulDoubtful: crypto — Bitcoin mining (Sphere 3D); scholarly disagreement + share/interest nature unclear
  • LITSDoubtfulDoubtful: crypto — Litecoin treasury (the 'Biotechnology' label is stale); scholarly disagreement + share/interest nature unclear
  • SVRNDoubtfulDoubtful: crypto — NEAR token treasury (the 'Marine Shipping' label is stale); scholarly disagreement + share/interest nature unclear
  • SONMDoubtfulDoubtful: crypto — Crypto-trading pivot (Sonim → DNA X); scholarly disagreement + share/interest nature unclear
  • YDKGDoubtfulDoubtful: crypto — BTC/ETH treasury (formerly AirNet); scholarly disagreement + share/interest nature unclear
  • PWCMDoubtfulDoubtful: crypto — Bitcoin mining + lending (LM Funding); scholarly disagreement + share/interest nature unclear
  • SGRXDoubtfulDoubtful: crypto — Bitcoin mining (Bit Origin; the 'Financial Data' label is stale); scholarly disagreement + share/interest nature unclear
  • IPSTDoubtfulDoubtful: crypto — IP tokenization + spirits (Heritage Distilling); scholarly disagreement + share/interest nature unclear
  • AIBZDoubtfulDoubtful: crypto — Crypto/blockchain line (AiBz); scholarly disagreement + share/interest nature unclear
  • OWLSDoubtfulDoubtful: crypto — Crypto payment/blockchain services (OwlTing); scholarly disagreement + share/interest nature unclear
  • SOSDoubtfulDoubtful: crypto — Crypto mining and hosting (SOS Ltd); scholarly disagreement + share/interest nature unclear
  • BULLDoubtfulDoubtful: online broker — margin-loan interest is a large part of revenue, exact share not verified (Webull)
  • TOPDoubtfulDoubtful: broker — margin financing, structured notes, derivatives (TOP Financial)
  • AXGDoubtfulDoubtful: Hong Kong brokerage — margin/interest share not disclosed (Solowin)
  • BMHLDoubtfulDoubtful: Hong Kong brokerage and corporate finance (Bluemount)
  • WTFDoubtfulDoubtful: online broker — margin/interest share not disclosed (Waton)
  • PLTSDoubtfulDoubtful: spot FX trading platform — speculative-trading infrastructure (Platinum Analytics)
  • KPLTDoubtfulDoubtful: lease-to-own — weekly payment and purchase-fee structure (Katapult)
  • LHAIDoubtfulDoubtful: mortgage lending since 2026 — share not disclosed (Lead Real Estate)
  • FTFTDoubtfulDoubtful: supply-chain finance (lending) — share not disclosed (Future FinTech)
  • CHYMDoubtfulDoubtful: neobank — interchange is the core, but the credit/interest products' share (MyPay, Credit Builder) is not disclosed (Chime)
  • DAVEDoubtfulDoubtful: paycheck advances (ExtraCash) — tip and express-fee structure resembling interest (Dave)
  • ADBTDoubtfulDoubtful: earned-wage-access fintech — fee structure (Adbt)
  • HGBLDoubtfulDoubtful: specialty-lending unit (Heritage Global Capital) — share not disclosed
  • SRLDoubtfulDoubtful: merchant-banking services + royalty (Scully Royalty, formerly MFC Bancorp)
  • EDVADoubtfulDoubtful: pivot to cannabinoid (CBD) products since 2026-08 — share not disclosed (Endovia, formerly Splash)
  • IGCDoubtfulDoubtful: THC-based drug (IGC Pharma — a cannabinoid for Alzheimer's)
  • QUCYDoubtfulDoubtful: pivot to an autonomous defense/drone-warfare platform — share not disclosed (Quantum Cyber; the 'Diagnostics' label is stale)
  • DFNSDoubtfulDoubtful: pivot to a defense holding — Iron Dome generators and more (T3 Defense, formerly Nukkleus)
  • HLSQDoubtfulDoubtful: pivot to a defense/security holding — counter-drone systems (Tessera, formerly BiomX)
  • WYHGHaramPork (Wing Yip — 58–68% of revenue is cured meat, mainly pork lap cheong sausage)
  • CCGHaramConventional insurance brokerage — nearly all revenue is auto-insurance commissions (Cheche Group)
  • MBDoubtfulDoubtful: pork and alcohol at hotpot/BBQ buffets — share not disclosed (MasterBeef)
  • LVODoubtfulDoubtful: music streaming (Slacker) and concert content + Bitcoin treasury strategy (LiveOne)
  • BARKDoubtfulDoubtful: some dog treats have pork as the main ingredient — share not disclosed (BARK)
  • MUSAHaramTobacco/nicotine is ~14% of revenue (10-K) — above 5%; scratch lottery and beer are sold too
  • EATHaramRestaurants — alcohol is 8.9% of Chili's and 12.6% of Maggiano's sales (10-K FY2026) ≥ 5%; pork on the menu
  • BJRIHaramAlcohol PRODUCTION — own breweries and brewpubs (brews ~68% of its house beer)
  • GTIMHaramRestaurants — alcohol is ~12% of Bad Daddy's sales (10-K), ~8–9% overall ≥ 5%; bacon in core dishes
  • ASOHaramFirearms are ~6% of net sales (10-K) — above 5%, before ammunition
  • DGDoubtfulDoubtful: tobacco (in nearly all stores) and beer/wine within 'consumables' — share not disclosed, may exceed 5%
  • FWRGDoubtfulDoubtful: breakfast restaurants — pork (bacon) is a key commodity, alcohol is served too; combined share not measurable
  • ARKRDoubtfulDoubtful: stake in a racetrack with sports betting (Meadowlands), bars/restaurants in casino resorts; share not disclosed
  • LYVDoubtfulDoubtful: concert/music promoter + alcohol concessions and beverage sponsorship at venues; share not disclosed
  • MSGEDoubtfulDoubtful: arena betting partners (DraftKings/BetMGM/Caesars) + alcohol concessions + concerts; share not disclosed
  • OPRADoubtfulDoubtful: paid browser placements for betting operators (Africa), OPay stake (lending), stablecoin wallet; share not disclosed

The list keeps growing. When a new hidden case is found it's added here, and the stock leaves the universe on the next check.

Read the full methodology