AQR Long-Short Equity Fund Class N QLENX

Effective at the close of business on June 19, 2026, the mutual fund share classes of AQR Long-Short Equity and AQR Equity Market Neutral will be closed to new investors; existing shareholders may continue to make additional investments. This soft close applies only to the mutual fund vehicles of these strategies. AQR cited capacity constraints as its rationale for closing investments to new investors. Morningstar views this as a prudent step to protect existing shareholders and maintain each strategy's investment mandate. These soft closes do not change Morningstar's view of either strategy's People or Process Pillars.