AQR International Defensive Equity Fund

Class Inst (ANDIX)

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 1.16 0.0 1.16
Stocks 0.0 0.0 0.0
Bonds 0.0 0.0 0.0
Other 0.19 0.06 0.13
Foreign Bonds 0.0 0.0 0.0
Foreign Stocks 98.08 0.0 98.08
Convertible 0.0 0.0 0.0
Preferred 0.62 0.0 0.62

Updated 05.31.2014

Top 10 Holdings

Performance as of 06.30.2014

Portfolio as of 05.31.2014

Ticker YTD Return % % Net Assets
iShares MSCI EAFE --- --- 8.56
Telstra Corp Ltd TTRAF 7.63 1.43
Woolworths Ltd WOLWF 13.35 1.4
Wesfarmers Ltd WFAFF 1.77 1.37
AstraZeneca PLC AZNCF 28.89 1.34
Nestle SA NSRGF 10.28 1.23
Singapore Telecommunications Limited SNGNF 7.41 1.2
BCE Inc BCE 7.96 1.15
Beiersdorf AG BDRFF -3.42 1.11
Associated British Foods PLC ASBFF 38.91 1.1