<SEC-DOCUMENT>0001042046-14-000046.txt : 20141107
<SEC-HEADER>0001042046-14-000046.hdr.sgml : 20141107
<ACCEPTANCE-DATETIME>20141107161245
ACCESSION NUMBER:		0001042046-14-000046
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140930
FILED AS OF DATE:		20141107
DATE AS OF CHANGE:		20141107
EFFECTIVENESS DATE:		20141107

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:		141205052

	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>
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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>09-30-2014</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>09-30-2014</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>11-07-2014</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>2</otherIncludedManagersCount>
      <tableEntryTotal>245</tableEntryTotal>
      <tableValueTotal>1211109</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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<DESCRIPTION>INFORMATION TABLE
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    <nameOfIssuer>ACE LTD</nameOfIssuer>
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    <titleOfClass>COM</titleOfClass>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <nameOfIssuer>ARCELORMITTAL SA LUXEMBOURG</nameOfIssuer>
    <titleOfClass>NY REGISTRY SH</titleOfClass>
    <cusip>03938L104</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>400000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <otherManager>2</otherManager>
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      <None>0</None>
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    <nameOfIssuer>ARCH COAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>039380100</cusip>
    <value>1579</value>
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      <sshPrnamt>745000</sshPrnamt>
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    <otherManager>1</otherManager>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ARCH COAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>039380100</cusip>
    <value>233</value>
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      <sshPrnamt>110000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
      <Sole>110000</Sole>
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      <None>0</None>
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    <nameOfIssuer>BP PLC</nameOfIssuer>
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    <cusip>055622104</cusip>
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    <shrsOrPrnAmt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <None>0</None>
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    <nameOfIssuer>BP PLC</nameOfIssuer>
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    <cusip>055622104</cusip>
    <value>1978</value>
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      <sshPrnamt>45000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45000</Sole>
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      <None>0</None>
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    <nameOfIssuer>BANK AMER CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
    <value>11306</value>
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      <sshPrnamt>663120</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>BANK AMER CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
    <value>1338</value>
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      <sshPrnamt>78480</sshPrnamt>
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      <Sole>78480</Sole>
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      <None>0</None>
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    <nameOfIssuer>BARCLAYS PLC</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>06738E204</cusip>
    <value>3043</value>
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      <sshPrnamt>205500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <nameOfIssuer>BARCLAYS PLC</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>06738E204</cusip>
    <value>4947</value>
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      <sshPrnamt>334000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
      <Sole>334000</Sole>
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      <None>0</None>
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    <nameOfIssuer>BARCLAYS PLC</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>06738E204</cusip>
    <value>3858</value>
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      <sshPrnamt>260500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>260500</Sole>
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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>288</value>
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      <sshPrnamt>13273</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>13273</Sole>
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      <None>0</None>
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    <nameOfIssuer>BBCN BANCORP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>073295107</cusip>
    <value>221</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15149</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>15149</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>5593</value>
    <shrsOrPrnAmt>
      <sshPrnamt>117000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>117000</Sole>
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      <None>0</None>
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    <nameOfIssuer>BLACKSTONE GROUP L P</nameOfIssuer>
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    <cusip>09253U108</cusip>
    <value>378</value>
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      <sshPrnamt>12000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>12000</Sole>
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      <None>0</None>
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    <nameOfIssuer>BLACKSTONE GROUP L P</nameOfIssuer>
    <titleOfClass>COM UNIT LTD</titleOfClass>
    <cusip>09253U108</cusip>
    <value>1511</value>
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      <sshPrnamt>48000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>48000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CAI INTERNATIONAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12477X106</cusip>
    <value>260</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13456</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>13456</Sole>
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      <None>0</None>
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    <nameOfIssuer>CYS INVTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12673A108</cusip>
    <value>9118</value>
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      <sshPrnamt>1106500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <Sole>1106500</Sole>
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      <None>0</None>
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    <nameOfIssuer>CYS INVTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12673A108</cusip>
    <value>9624</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1168000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CYS INVTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12673A108</cusip>
    <value>9521</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <nameOfIssuer>CAPITAL BK FINL CORP</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>139794101</cusip>
    <value>351</value>
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      <sshPrnamt>14715</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>CAPITOL FED FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14057J101</cusip>
    <value>426</value>
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      <sshPrnamt>36000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>36000</Sole>
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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>503</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>16500</Sole>
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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>2217</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>72800</Sole>
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      <None>0</None>
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    <nameOfIssuer>CARRIAGE SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>143905107</cusip>
    <value>281</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16217</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <Sole>16217</Sole>
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      <None>0</None>
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    <nameOfIssuer>CEDAR REALTY TRUST INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>150602209</cusip>
    <value>275</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>46654</Sole>
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      <None>0</None>
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    <nameOfIssuer>CELGENE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>151020104</cusip>
    <value>2843</value>
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      <sshPrnamt>30000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>30000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CELGENE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>151020104</cusip>
    <value>2843</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>156504300</cusip>
    <value>5552</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CENTURY CMNTYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>156504300</cusip>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>166764100</cusip>
    <value>4630</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>38800</Sole>
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      <None>0</None>
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    <nameOfIssuer>CHUBB CORP</nameOfIssuer>
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    <value>6467</value>
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      <sshPrnamt>71000</sshPrnamt>
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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>2769</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CISCO SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>17275R102</cusip>
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      <sshPrnamt>250000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CITIGROUP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>172967424</cusip>
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      <sshPrnamt>291000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
    <nameOfIssuer>CITIGROUP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
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      <sshPrnamt>164000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>164000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>COACH INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>189754104</cusip>
    <value>6467</value>
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      <sshPrnamt>181600</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>181600</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>COACH INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>189754104</cusip>
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      <sshPrnamt>203400</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <titleOfClass>COM</titleOfClass>
    <cusip>712704105</cusip>
    <value>9116</value>
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      <sshPrnamt>630000</sshPrnamt>
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      <Sole>630000</Sole>
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  <infoTable>
    <nameOfIssuer>PEPSICO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>713448108</cusip>
    <value>20019</value>
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      <sshPrnamt>215050</sshPrnamt>
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    <otherManager>1</otherManager>
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      <Sole>215050</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PERFICIENT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>71375U101</cusip>
    <value>227</value>
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      <sshPrnamt>15169</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>15169</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PETROQUEST ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>716748108</cusip>
    <value>294</value>
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      <sshPrnamt>52308</sshPrnamt>
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      <Sole>52308</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PFIZER INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>717081103</cusip>
    <value>12360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>418000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <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>591</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>542</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
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      <Sole>6500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>POTBELLY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>73754Y100</cusip>
    <value>350</value>
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      <sshPrnamt>30000</sshPrnamt>
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    <otherManager>1</otherManager>
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      <Sole>30000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>POTBELLY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>73754Y100</cusip>
    <value>1166</value>
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      <sshPrnamt>100000</sshPrnamt>
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      <Sole>100000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>POTBELLY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>73754Y100</cusip>
    <value>816</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>70000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PREMIERE GLOBAL SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>740585104</cusip>
    <value>250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20924</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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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>
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    <cusip>742718109</cusip>
    <value>6648</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>PROVIDENT FINL SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74386T105</cusip>
    <value>236</value>
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      <sshPrnamt>14439</sshPrnamt>
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      <Sole>14439</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>7695</value>
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      <sshPrnamt>87500</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>87500</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>8031</value>
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      <sshPrnamt>91323</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>91323</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>220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19034</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>19034</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>RAMCO-GERSHENSON PPTYS TR</nameOfIssuer>
    <titleOfClass>COM SH BEN INT</titleOfClass>
    <cusip>751452202</cusip>
    <value>282</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17345</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>17345</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>2885</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1717202</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1717202</Sole>
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  <infoTable>
    <nameOfIssuer>REVOLUTION LIGHTING TECHNOLO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76155G107</cusip>
    <value>2885</value>
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      <sshPrnamt>1717202</sshPrnamt>
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      <Sole>1717202</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>REXFORD INDL RLTY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76169C100</cusip>
    <value>623</value>
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      <sshPrnamt>45000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>45000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>REXFORD INDL RLTY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76169C100</cusip>
    <value>1453</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>105000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>RUDOLPH TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>781270103</cusip>
    <value>236</value>
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      <sshPrnamt>26035</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>26035</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>SIZMEK INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>83013P105</cusip>
    <value>219</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28305</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>28305</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>STAPLES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>855030102</cusip>
    <value>3025</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>250000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>STARWOOD PPTY TR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>85571B105</cusip>
    <value>329</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>15000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>STARWOOD PPTY TR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>85571B105</cusip>
    <value>329</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>STONEGATE MTG CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>86181Q300</cusip>
    <value>11763</value>
    <shrsOrPrnAmt>
      <sshPrnamt>905555</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>905555</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>STONEGATE MTG CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>86181Q300</cusip>
    <value>10587</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>815000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>STONEGATE MTG CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>86181Q300</cusip>
    <value>1176</value>
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      <sshPrnamt>90556</sshPrnamt>
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      <Sole>90556</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>STONERIDGE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>86183P102</cusip>
    <value>288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25523</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>25523</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>SYKES ENTERPRISES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>871237103</cusip>
    <value>239</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11970</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>11970</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>SYSCO CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>871829107</cusip>
    <value>721</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>19000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>TARGET CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87612E106</cusip>
    <value>8775</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>140000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>TECK RESOURCES LTD</nameOfIssuer>
    <titleOfClass>CL B</titleOfClass>
    <cusip>878742204</cusip>
    <value>1400</value>
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      <sshPrnamt>74100</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>74100</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>CL B</titleOfClass>
    <cusip>878742204</cusip>
    <value>756</value>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>THOMSON REUTERS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>884903105</cusip>
    <value>655</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18000</sshPrnamt>
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      <Sole>18000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>TORTOISE ENERGY INFRSTRCTR C</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89147L100</cusip>
    <value>930</value>
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      <sshPrnamt>19336</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>19336</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>TORTOISE ENERGY INFRSTRCTR C</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89147L100</cusip>
    <value>3097</value>
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      <sshPrnamt>64380</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>64380</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>TWO HBRS INVT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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</SEC-DOCUMENT>
