<SEC-DOCUMENT>0001042046-14-000021.txt : 20140514
<SEC-HEADER>0001042046-14-000021.hdr.sgml : 20140514
<ACCEPTANCE-DATETIME>20140514172108
ACCESSION NUMBER:		0001042046-14-000021
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140331
FILED AS OF DATE:		20140514
DATE AS OF CHANGE:		20140514
EFFECTIVENESS DATE:		20140514

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN FINANCIAL GROUP INC
		CENTRAL INDEX KEY:			0001042046
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				311544320
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-04389
		FILM NUMBER:		14842605

	BUSINESS ADDRESS:	
		STREET 1:		GREAT AMERICAN INSURANCE GROUP TOWER
		STREET 2:		301 E. 4TH STREET
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202
		BUSINESS PHONE:		5135792121

	MAIL ADDRESS:	
		STREET 1:		GREAT AMERICAN INSURANCE GROUP TOWER
		STREET 2:		301 E. 4TH STREET
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN FINANCIAL GROUP HOLDINGS INC
		DATE OF NAME CHANGE:	19970709
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
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  <headerData>
    <submissionType>13F-HR</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <flags>
        <confirmingCopyFlag>false</confirmingCopyFlag>
        <returnCopyFlag>false</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
      </flags>
      <filer>
        <credentials>
          <cik>0001042046</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>03-31-2014</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>03-31-2014</reportCalendarOrQuarter>
      <filingManager>
        <name>AMERICAN FINANCIAL GROUP INC</name>
        <address>
          <com:street1>GREAT AMERICAN INSURANCE GROUP TOWER</com:street1>
          <com:street2>301 E. 4TH STREET</com:street2>
          <com:city>CINCINNATI</com:city>
          <com:stateOrCountry>OH</com:stateOrCountry>
          <com:zipCode>45202</com:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-04389</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>Brian S. Hertzman</name>
      <title>Vice President and Controller</title>
      <phone>513-579-2153</phone>
      <signature>/s/ Brian S. Hertzman</signature>
      <city>Cincinnati</city>
      <stateOrCountry>OH</stateOrCountry>
      <signatureDate>05-14-2014</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>2</otherIncludedManagersCount>
      <tableEntryTotal>223</tableEntryTotal>
      <tableValueTotal>1129039</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
      <otherManagers2Info>
        <otherManager2>
          <sequenceNumber>1</sequenceNumber>
          <otherManager>
            <form13FFileNumber>28-498</form13FFileNumber>
            <name>Great American Insurance Company</name>
          </otherManager>
        </otherManager2>
        <otherManager2>
          <sequenceNumber>2</sequenceNumber>
          <otherManager>
            <form13FFileNumber>28-1258</form13FFileNumber>
            <name>Great American Life Insurance Company</name>
          </otherManager>
        </otherManager2>
      </otherManagers2Info>
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<DOCUMENT>
<TYPE>INFORMATION TABLE
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<FILENAME>afg-201433113fxhr.xml
<DESCRIPTION>INFORMATION TABLE
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    </votingAuthority>
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    </votingAuthority>
  </infoTable>
  <infoTable>
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    </votingAuthority>
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    <nameOfIssuer>ARCELORMITTAL SA LUXEMBOURG</nameOfIssuer>
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    <nameOfIssuer>ARCELORMITTAL SA LUXEMBOURG</nameOfIssuer>
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    <nameOfIssuer>ARCH COAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <None>0</None>
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    <nameOfIssuer>ARCH COAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>039380100</cusip>
    <value>530</value>
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    <nameOfIssuer>BP PLC</nameOfIssuer>
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    <cusip>055622104</cusip>
    <value>3968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82500</sshPrnamt>
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    <nameOfIssuer>BANK OF AMERICA CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
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    <nameOfIssuer>BARCLAYS PLC</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>06738E204</cusip>
    <value>2677</value>
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    <titleOfClass>ADR</titleOfClass>
    <cusip>06738E204</cusip>
    <value>4851</value>
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      <sshPrnamt>309000</sshPrnamt>
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    <nameOfIssuer>BARCLAYS PLC</nameOfIssuer>
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    <cusip>06738E204</cusip>
    <value>4090</value>
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      <sshPrnamt>260500</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>BASIC ENERGY SVCS INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>06985P100</cusip>
    <value>228</value>
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      <sshPrnamt>8324</sshPrnamt>
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      <Sole>8324</Sole>
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      <None>0</None>
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    <nameOfIssuer>BERKLEY W R CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>084423102</cusip>
    <value>4870</value>
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      <sshPrnamt>117000</sshPrnamt>
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      <Sole>117000</Sole>
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    <nameOfIssuer>BIG 5 SPORTING GOODS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>08915P101</cusip>
    <value>168</value>
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      <Sole>10484</Sole>
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      <None>0</None>
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    <nameOfIssuer>BLDRS INDEX FDS TR</nameOfIssuer>
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    <cusip>09348R300</cusip>
    <value>383</value>
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      <Sole>10529</Sole>
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    <nameOfIssuer>CAI INTERNATIONAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12477X106</cusip>
    <value>290</value>
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      <sshPrnamt>11760</sshPrnamt>
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      <Sole>11760</Sole>
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    <nameOfIssuer>CYS INVTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12673A108</cusip>
    <value>9140</value>
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      <sshPrnamt>1106500</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <nameOfIssuer>CYS INVTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12673A108</cusip>
    <value>9648</value>
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      <sshPrnamt>1168000</sshPrnamt>
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    <nameOfIssuer>CYS INVTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12673A108</cusip>
    <value>9544</value>
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    <nameOfIssuer>CAPITAL BK FINL CORP</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>139794101</cusip>
    <value>369</value>
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    <nameOfIssuer>CAPITOL FED FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14057J101</cusip>
    <value>452</value>
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    <nameOfIssuer>CARDINAL FINL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14149F109</cusip>
    <value>246</value>
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      <None>0</None>
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    <nameOfIssuer>CARLYLE GROUP L P</nameOfIssuer>
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    <cusip>14309L102</cusip>
    <value>580</value>
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    <nameOfIssuer>CARLYLE GROUP L P</nameOfIssuer>
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    <cusip>14309L102</cusip>
    <value>2558</value>
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    <nameOfIssuer>CEDAR REALTY TRUST INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>150602209</cusip>
    <value>264</value>
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    <nameOfIssuer>CHEVRON CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>166764100</cusip>
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      <None>0</None>
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    <nameOfIssuer>CHUBB CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>6340</value>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>71000</Sole>
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      <None>0</None>
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    <nameOfIssuer>CISCO SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>17275R102</cusip>
    <value>2466</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <nameOfIssuer>CISCO SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <cusip>172967424</cusip>
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    <titleOfClass>COM</titleOfClass>
    <cusip>189754104</cusip>
    <value>5736</value>
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    <titleOfClass>COM</titleOfClass>
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    <titleOfClass>COM</titleOfClass>
    <cusip>19624R106</cusip>
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    <nameOfIssuer>COLONY FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>19624R106</cusip>
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    <nameOfIssuer>COMCAST CORP NEW</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
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    <titleOfClass>COM</titleOfClass>
    <cusip>20825C104</cusip>
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    <nameOfIssuer>CORPORATE OFFICE PPTYS TR</nameOfIssuer>
    <titleOfClass>SH BEN INT</titleOfClass>
    <cusip>22002T108</cusip>
    <value>297</value>
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      <Sole>11159</Sole>
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  <infoTable>
    <nameOfIssuer>CUSTOMERS BANCORP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>196429</Sole>
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    <votingAuthority>
      <Sole>462000</Sole>
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      <None>0</None>
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    <nameOfIssuer>NMI HLDGS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>629209305</cusip>
    <value>10853</value>
    <shrsOrPrnAmt>
      <sshPrnamt>926000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>926000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>NATIONAL BK HLDGS CORP</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>633707104</cusip>
    <value>873</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43500</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>43500</Sole>
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      <None>0</None>
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    <nameOfIssuer>NATIONAL BK HLDGS CORP</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>633707104</cusip>
    <value>1313</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65400</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>65400</Sole>
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      <None>0</None>
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    <nameOfIssuer>NATIONAL GEN HLDGS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>636220303</cusip>
    <value>6685</value>
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      <sshPrnamt>477500</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>NATIONAL GEN HLDGS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>636220303</cusip>
    <value>5348</value>
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      <sshPrnamt>382000</sshPrnamt>
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      <Sole>382000</Sole>
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      <None>0</None>
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    <nameOfIssuer>NATIONAL GEN HLDGS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>636220303</cusip>
    <value>1337</value>
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      <sshPrnamt>95500</sshPrnamt>
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    <votingAuthority>
      <Sole>95500</Sole>
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      <None>0</None>
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    <nameOfIssuer>NATIONAL INTERSTATE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>63654U100</cusip>
    <value>273462</value>
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      <sshPrnamt>10200000</sshPrnamt>
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    <otherManager>1</otherManager>
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      <Sole>10200000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>NEW YORK CMNTY BANCORP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>649445103</cusip>
    <value>5625</value>
    <shrsOrPrnAmt>
      <sshPrnamt>350000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>350000</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>NICE SYS LTD</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>653656108</cusip>
    <value>293</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6556</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6556</Sole>
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      <None>0</None>
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    <nameOfIssuer>OMNICELL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68213N109</cusip>
    <value>267</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9329</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>9329</Sole>
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      <None>0</None>
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    <nameOfIssuer>OMEROS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>682143102</cusip>
    <value>1232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102040</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>102040</Sole>
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      <None>0</None>
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    <nameOfIssuer>OMEROS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>682143102</cusip>
    <value>1847</value>
    <shrsOrPrnAmt>
      <sshPrnamt>153061</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>153061</Sole>
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      <None>0</None>
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    <nameOfIssuer>ORBITAL SCIENCES CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>685564106</cusip>
    <value>345</value>
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      <sshPrnamt>12378</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>12378</Sole>
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      <None>0</None>
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    <nameOfIssuer>ORGANOVO HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68620A104</cusip>
    <value>699</value>
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      <sshPrnamt>91500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>91500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ORGANOVO HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68620A104</cusip>
    <value>1222</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>160000</Sole>
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      <None>0</None>
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    <nameOfIssuer>PNC FINL SVCS GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>693475105</cusip>
    <value>4328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>49750</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PNC FINL SVCS GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>693475105</cusip>
    <value>5242</value>
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      <sshPrnamt>60250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60250</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PEABODY ENERGY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>704549104</cusip>
    <value>5882</value>
    <shrsOrPrnAmt>
      <sshPrnamt>360000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>360000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PEABODY ENERGY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>704549104</cusip>
    <value>4412</value>
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      <sshPrnamt>270000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>270000</Sole>
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      <None>0</None>
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    <nameOfIssuer>PEOPLES UNITED FINANCIAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>712704105</cusip>
    <value>9368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>630000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>630000</Sole>
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      <None>0</None>
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    <nameOfIssuer>PEPSICO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>713448108</cusip>
    <value>17957</value>
    <shrsOrPrnAmt>
      <sshPrnamt>215050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>215050</Sole>
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      <None>0</None>
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    <nameOfIssuer>PETROQUEST ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>716748108</cusip>
    <value>385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67534</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>67534</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PFIZER INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>717081103</cusip>
    <value>13426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>418000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>418000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PFIZER INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>717081103</cusip>
    <value>642</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PHILIP MORRIS INTL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>718172109</cusip>
    <value>532</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>6500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>POWERSHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DYNAMIC MKT PT</titleOfClass>
    <cusip>73935X104</cusip>
    <value>1883</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26391</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>26391</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>POWERSHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>HI YLD EQ DVDN</titleOfClass>
    <cusip>73935X302</cusip>
    <value>365</value>
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      <sshPrnamt>29947</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>29947</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PREMIERE GLOBAL SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>740585104</cusip>
    <value>252</value>
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      <sshPrnamt>20924</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>20924</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PROCTER &amp; GAMBLE CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>742718109</cusip>
    <value>6399</value>
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      <sshPrnamt>79391</sshPrnamt>
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      <Sole>79391</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PRUDENTIAL FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>744320102</cusip>
    <value>7407</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>87500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PRUDENTIAL FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>744320102</cusip>
    <value>3498</value>
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      <sshPrnamt>41323</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>41323</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>RF MICRODEVICES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>749941100</cusip>
    <value>180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22837</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>22837</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>RAMCO-GERSHENSON PPTYS TR</nameOfIssuer>
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    <cusip>751452202</cusip>
    <value>283</value>
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      <sshPrnamt>17345</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>17345</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>REVENUESHARES ETF TR</nameOfIssuer>
    <titleOfClass>SMALL CAP FD</titleOfClass>
    <cusip>761396308</cusip>
    <value>243</value>
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      <sshPrnamt>4443</sshPrnamt>
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      <Sole>4443</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>REVOLUTION LIGHTING TECHNOLO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76155G107</cusip>
    <value>5409</value>
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      <sshPrnamt>1717202</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1717202</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>REVOLUTION LIGHTING TECHNOLO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76155G107</cusip>
    <value>5409</value>
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      <sshPrnamt>1717202</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1717202</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>REXFORD INDL RLTY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76169C100</cusip>
    <value>638</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>45000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>REXFORD INDL RLTY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76169C100</cusip>
    <value>1489</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105000</sshPrnamt>
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      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WISCONSIN ENERGY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>976657106</cusip>
    <value>745</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
</informationTable>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
