AQR Capital discloses 5.14% ownership in NNN REIT, Inc. (NNN) on 13G

Rhea-AI Filing Summary

AQR Capital Management, LLC and its parent AQR Capital Management Holdings, LLC reported beneficial ownership of 9,773,107 shares of NNN REIT, Inc. common stock, representing 5.14% of the class. All reported shares are held with shared rather than sole power to vote and dispose. Each entity reports shared voting power over 9,643,666 shares and shared dispositive power over 9,773,107 shares, with no sole voting or sole dispositive power. AQR Capital Management, LLC is a wholly owned subsidiary of AQR Capital Management Holdings, LLC, and the filing is made jointly on behalf of both entities.

Key Figures

Beneficially owned shares: 9,773,107 shares Ownership percentage: 5.14% Shared voting power: 9,643,666 shares +1 more

4 metrics

Beneficially owned shares 9,773,107 shares Shares of NNN REIT, Inc. common stock beneficially owned by AQR entities

Ownership percentage 5.14% Percent of NNN REIT, Inc. common stock class beneficially owned

Shared voting power 9,643,666 shares Shares over which AQR entities have shared power to vote

Shared dispositive power 9,773,107 shares Shares over which AQR entities have shared power to dispose

Key Terms

beneficially owned, shared voting power, shared dispositive power, parent holding company

4 terms

beneficially owned financial

"Amount beneficially owned: 9,773,107"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power financial

"Shared Voting Power 9,643,666.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Shared Dispositive Power 9,773,107.00"

parent holding company financial

"If a parent holding company has filed this schedule"

FAQ

How many NNN (NNN REIT, Inc.) shares does AQR report owning?

AQR Capital Management and its parent report 9,773,107 shares of NNN REIT, Inc. common stock as beneficially owned. This stake is reported on a Schedule 13G, indicating a passive ownership position under SEC rules.

What percentage of NNN (NNN REIT, Inc.) does AQR own according to this filing?

The filing states that AQR beneficially owns 5.14% of NNN REIT, Inc.’s common stock. Crossing the 5% threshold requires public disclosure of holdings on a Schedule 13D or 13G with detailed ownership information.

What voting power does AQR have over its NNN (NNN REIT, Inc.) shares?

AQR reports shared voting power over 9,643,666 NNN shares and no sole voting power. This means voting decisions on these shares are made jointly with others rather than unilaterally by AQR alone.

What dispositive power does AQR report over NNN (NNN REIT, Inc.) shares?

AQR discloses shared dispositive power over 9,773,107 NNN shares and no sole dispositive power. Shared dispositive power means decisions to sell or otherwise dispose of these shares are made together with other parties.

Which entities are filing this Schedule 13G for NNN (NNN REIT, Inc.)?

The Schedule 13G is filed jointly by AQR Capital Management, LLC and AQR Capital Management Holdings, LLC. The filing notes that AQR Capital Management, LLC is a wholly owned subsidiary of AQR Capital Management Holdings, LLC.

Where are AQR’s principal offices for this NNN (NNN REIT, Inc.) holding?

The principal business office for the reporting entities is listed as ONE GREENWICH PLAZA, SUITE 130, Greenwich, Connecticut 06830. This address identifies the location associated with AQR’s reported beneficial ownership in NNN REIT, Inc.

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Available on EDGAR 08/13/2026 - 09:13 AM Accepted by SEC EDGAR 08/13/2026 - 09:13 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

NNN REIT, INC.

(Name of Issuer)

Common Stock, $0.01 par value

(Title of Class of Securities)

637417106

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 637417106

1

Names of Reporting Persons

AQR Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,643,666.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,773,107.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,773,107.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.14 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 637417106

1

Names of Reporting Persons

AQR Capital Management Holdings, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,643,666.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,773,107.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,773,107.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.14 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: NNN REIT, INC.
(b)	Address of issuer's principal executive offices: 450 S ORANGE AVE, SUITE 900, ORLANDO, FLORIDA 32801
Item 2.
(a)	Name of person filing: AQR Capital Management, LLC AQR Capital Management Holdings, LLC
(b)	Address or principal business office or, if none, residence: ONE GREENWICH PLAZA SUITE 130 Greenwich, Connecticut 06830
(c)	Citizenship: AQR Capital Management, LLC - UNITED STATES AQR Capital Management Holdings, LLC - UNITED STATES
(d)	Title of class of securities: Common Stock, $0.01 par value
(e)	CUSIP Number(s): 637417106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 9,773,107
(b)	Percent of class: 5.14 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: AQR Capital Management, LLC - 0 AQR Capital Management Holdings, LLC - 0
	(ii) Shared power to vote or to direct the vote: AQR Capital Management, LLC - 9,643,666 AQR Capital Management Holdings, LLC - 9,643,666
	(iii) Sole power to dispose or to direct the disposition of: AQR Capital Management, LLC - 0 AQR Capital Management Holdings, LLC - 0
	(iv) Shared power to dispose or to direct the disposition of: AQR Capital Management, LLC - 9,773,107 AQR Capital Management Holdings, LLC - 9,773,107
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Item 2(a) above.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

AQR Capital Management, LLC

Signature:	Henry Parkin
Name/Title:	Authorized Signatory
Date:	08/13/2026

AQR Capital Management Holdings, LLC

Signature:	Henry Parkin
Name/Title:	Authorized Signatory
Date:	08/13/2026

Exhibit Information

AQR Capital Management Holdings, LLC and AQR Capital Management, LLC hereby agree that this Schedule 13G is filed on behalf of each of the parties. AQR Capital Management, LLC is a wholly owned subsidiary of AQR Capital Management Holdings, LLC.