Report of Independent Registered Public Accounting Firm

To the Board of Trustees of AQR Funds and Shareholders of
AQR Alternative Risk Premia Fund,
AQR Diversified Arbitrage Fund,
AQR Diversifying Strategies Fund,
AQR Equity Market Neutral Fund,
AQR Global Macro Fund, AQR Long-Short Equity Fund,
AQR Managed Futures Strategy Fund,
AQR Managed Futures Strategy HV Fund,
AQR Multi-Asset Fund,
AQR Risk-Balanced Commodities Strategy Fund,
AQR Risk Parity II MV Fund, and
AQR Style Premia Alternative Fund

In planning and performing our audits of the financial
statements of the funds listed in Appendix A (hereafter
collectively referred to as the "Funds") as of and for
the periods ended December 31, 2020, in accordance with
the standards of the Public Company Accounting Oversight
Board (United States) (PCAOB), we considered the Funds'
internal control over financial reporting, including
controls over safeguarding securities, as a basis for
designing our auditing procedures for the purpose of
expressing our opinion on the financial statements and
to comply with the requirements of Form N- CEN, but not
for the purpose of expressing an opinion on the
effectiveness of the Funds' internal control over
financial reporting. Accordingly, we do not express an
opinion on the effectiveness of the Funds' internal
control over financial reporting.

The management of the Funds are responsible for
establishing and maintaining effective internal
control over financial reporting. In fulfilling this
responsibility, estimates and judgments by management
are required to assess the expected benefits and
related costs of controls. A company's internal
control over financial reporting is a process designed
to provide reasonable assurance regarding the
reliability of financial reporting and the preparation
of financial statements for external purposes in
accordance with generally accepted accounting principles.
A company's internal control over financial reporting
includes those policies and procedures that (1) pertain
to the maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions and
dispositions of the assets of the company; (2) provide
reasonable assurance that transactions are recorded
as necessary to permit preparation of financial
statements in accordance with generally accepted
accounting principles, and that receipts and
expenditures of the company are being made only in
accordance with authorizations of management and
trustees of the company; and (3) provide reasonable
assurance regarding prevention or timely detection of
unauthorized acquisition, use or disposition of a
company's assets that could have a material effect
on the financial statements.

Because of its inherent limitations, internal
control over financial reporting may not prevent
or detect misstatements. Also, projections of any
evaluation of effectiveness to future periods are
subject to the risk that controls may become
inadequate because of changes in conditions, or that
the degree of compliance with the policies or
procedures may deteriorate.

A deficiency in internal control over financial
reporting exists when the design or operation
of a control does not allow management or employees,
in the normal course of performing their assigned
functions, to prevent or detect misstatements on
a timely basis. A material weakness is a deficiency,
or a combination of deficiencies, in internal
control over financial reporting, such that there
is a reasonable possibility that a material
misstatement of the company's annual or interim
financial statements will not be prevented or
detected on a timely basis.

Our consideration of the Funds' internal control
over financial reporting was for the limited
purpose described in the first paragraph and
would not necessarily disclose all deficiencies
in internal control over financial reporting
that might be material weaknesses under
standards established by the PCAOB. However, we noted
no deficiencies in the Funds' internal control
over financial reporting and their operations,
including controls over safeguarding securities,
that we consider to be material weaknesses as
defined above as of December 31, 2020.

This report is intended solely for the
information and use of the Board of Trustees of
AQR Funds and the Securities and Exchange Commission
and is not intended to be and should not be used
by anyone other than these specified parties.

/s/PricewaterhouseCoopers LLP
New York, New York
February 22, 2021

Appendix A


AQR Alternative Risk Premia Fund
AQR Global Macro Fund
AQR Managed Futures Strategy Fund
AQR Multi-Asset Fund
AQR Risk Parity II MV Fund
AQR Diversified Arbitrage Fund
AQR Equity Market Neutral Fund
AQR Long-Short Equity Fund
AQR Managed Futures Strategy HV Fund
AQR Risk-Balanced Commodities Strategy Fund
AQR Style Premia Alternative Fund
AQR Diversifying Strategies Fund - June 8, 2020
(commencement of operations) through December 31, 2020