<SEC-DOCUMENT>0001042046-16-000059.txt : 20160209
<SEC-HEADER>0001042046-16-000059.hdr.sgml : 20160209
<ACCEPTANCE-DATETIME>20160208173812
ACCESSION NUMBER:		0001042046-16-000059
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20151231
FILED AS OF DATE:		20160209
DATE AS OF CHANGE:		20160208
EFFECTIVENESS DATE:		20160209

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:		161396570

	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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    <submissionType>13F-HR</submissionType>
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      <liveTestFlag>LIVE</liveTestFlag>
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        <confirmingCopyFlag>false</confirmingCopyFlag>
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      <filer>
        <credentials>
          <cik>0001042046</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>12-31-2015</periodOfReport>
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  <formData>
    <coverPage>
      <reportCalendarOrQuarter>12-31-2015</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>02-08-2016</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>3</otherIncludedManagersCount>
      <tableEntryTotal>266</tableEntryTotal>
      <tableValueTotal>1307736</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
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          <otherManager>
            <form13FFileNumber>28-498</form13FFileNumber>
            <name>Great American Insurance Company</name>
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        </otherManager2>
        <otherManager2>
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            <name>Great American Life Insurance Company</name>
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    <titleOfClass>COM</titleOfClass>
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    <titleOfClass>COM</titleOfClass>
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      <None>0</None>
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    <nameOfIssuer>CHEVRON CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <None>0</None>
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    <nameOfIssuer>CHUBB CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>9417</value>
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      <sshPrnamt>71000</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>CISCO SYS INC</nameOfIssuer>
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    <cusip>17275R102</cusip>
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      <sshPrnamt>110000</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>CITIGROUP INC</nameOfIssuer>
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    <nameOfIssuer>COACH INC</nameOfIssuer>
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    <nameOfIssuer>COLONY CAP INC</nameOfIssuer>
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    <nameOfIssuer>COMCAST CORP NEW</nameOfIssuer>
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    <nameOfIssuer>CONOCOPHILLIPS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>327</value>
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      <Sole>7000</Sole>
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    <nameOfIssuer>CORPORATE OFFICE PPTYS TR</nameOfIssuer>
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    <nameOfIssuer>CYRUSONE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <nameOfIssuer>DELTA AIR LINES INC DEL</nameOfIssuer>
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    <nameOfIssuer>DELTA AIR LINES INC DEL</nameOfIssuer>
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    <nameOfIssuer>E M C CORP MASS</nameOfIssuer>
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    <nameOfIssuer>E M C CORP MASS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <nameOfIssuer>E M C CORP MASS</nameOfIssuer>
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      <Sole>55000</Sole>
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    <nameOfIssuer>EAGLE BANCORP INC MD</nameOfIssuer>
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    <cusip>268948106</cusip>
    <value>210</value>
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    <nameOfIssuer>EBAY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <None>0</None>
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    <nameOfIssuer>ELLINGTON FINANCIAL LLC</nameOfIssuer>
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    <nameOfIssuer>ELLINGTON FINANCIAL LLC</nameOfIssuer>
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    <value>12369</value>
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    <nameOfIssuer>EMCOR GROUP INC</nameOfIssuer>
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      <Sole>5946</Sole>
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      <None>0</None>
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    <nameOfIssuer>EMPLOYERS HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>331</value>
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      <Sole>12121</Sole>
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    <nameOfIssuer>ENBRIDGE ENERGY PARTNERS L P</nameOfIssuer>
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      <None>0</None>
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    <nameOfIssuer>ENBRIDGE ENERGY PARTNERS L P</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29250R106</cusip>
    <value>1038</value>
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    <nameOfIssuer>ENERGY TRANSFER PRTNRS L P</nameOfIssuer>
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    <cusip>29273R109</cusip>
    <value>1214</value>
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      <Sole>36000</Sole>
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    <value>10929</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>324000</Sole>
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    <nameOfIssuer>EVERI HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30034T103</cusip>
    <value>331</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <nameOfIssuer>FIRST FINL BANCORP OH</nameOfIssuer>
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    <cusip>320209109</cusip>
    <value>193</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>10668</Sole>
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    <nameOfIssuer>FIRST MERCHANTS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>320817109</cusip>
    <value>332</value>
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      <sshPrnamt>13042</sshPrnamt>
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      <Sole>13042</Sole>
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    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLUSHING FINL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>343873105</cusip>
    <value>276</value>
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      <sshPrnamt>12749</sshPrnamt>
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      <Sole>12749</Sole>
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    <nameOfIssuer>FRANKLIN RES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>354613101</cusip>
    <value>5827</value>
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      <sshPrnamt>158250</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>158250</Sole>
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    <nameOfIssuer>FRANKLIN RES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
    <nameOfIssuer>FRANKLIN RES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <nameOfIssuer>NMI HLDGS INC</nameOfIssuer>
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    <nameOfIssuer>NMI HLDGS INC</nameOfIssuer>
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    <nameOfIssuer>NATIONAL BK HLDGS CORP</nameOfIssuer>
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      <sshPrnamt>3776</sshPrnamt>
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    <value>121</value>
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    <nameOfIssuer>NATIONAL INTERSTATE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <nameOfIssuer>NEW YORK CMNTY BANCORP INC</nameOfIssuer>
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    <cusip>649445103</cusip>
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    <nameOfIssuer>NORTHSTAR RLTY FIN CORP</nameOfIssuer>
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    <nameOfIssuer>NORTHSTAR REALTY EUROPE CORP</nameOfIssuer>
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      <None>0</None>
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    <nameOfIssuer>NOVATEL WIRELESS INC</nameOfIssuer>
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    <value>12967</value>
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    <nameOfIssuer>OAKTREE CAP GROUP LLC</nameOfIssuer>
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      <sshPrnamt>10000</sshPrnamt>
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    <nameOfIssuer>OAKTREE CAP GROUP LLC</nameOfIssuer>
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      <sshPrnamt>10000</sshPrnamt>
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    <nameOfIssuer>OMEROS CORP</nameOfIssuer>
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    <cusip>682143102</cusip>
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    <nameOfIssuer>OMEROS CORP</nameOfIssuer>
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    <nameOfIssuer>OPUS BK IRVINE CALIF</nameOfIssuer>
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    <cusip>684000102</cusip>
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    <nameOfIssuer>ORGANOVO HLDGS INC</nameOfIssuer>
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    <cusip>68620A104</cusip>
    <value>228</value>
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      <sshPrnamt>91500</sshPrnamt>
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    <nameOfIssuer>ORGANOVO HLDGS INC</nameOfIssuer>
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    <cusip>68620A104</cusip>
    <value>398</value>
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      <sshPrnamt>160000</sshPrnamt>
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    <nameOfIssuer>PDVWIRELESS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69290R104</cusip>
    <value>11687</value>
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    <nameOfIssuer>PARTY CITY HOLDCO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>702149105</cusip>
    <value>168</value>
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    <nameOfIssuer>PAYPAL HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70450Y103</cusip>
    <value>2100</value>
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    <nameOfIssuer>PEAK RESORTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70469L100</cusip>
    <value>7488</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1245986</Sole>
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    <nameOfIssuer>POTBELLY CORP</nameOfIssuer>
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    <value>1171</value>
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    <titleOfClass>COM</titleOfClass>
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    <nameOfIssuer>PROSPECT CAPITAL CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <nameOfIssuer>PROVIDENT FINL SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74386T105</cusip>
    <value>291</value>
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    <nameOfIssuer>PRUDENTIAL FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>744320102</cusip>
    <value>19335</value>
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      <sshPrnamt>237500</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
    <nameOfIssuer>PRUDENTIAL FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>744320102</cusip>
    <value>9877</value>
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    <nameOfIssuer>RAMCO-GERSHENSON PPTYS TR</nameOfIssuer>
    <titleOfClass>COM SH BEN INT</titleOfClass>
    <cusip>751452202</cusip>
    <value>288</value>
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    <nameOfIssuer>REAL IND INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75601W104</cusip>
    <value>206</value>
    <shrsOrPrnAmt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>25678</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>RESOLUTE FST PRODS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76117W109</cusip>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>474084</Sole>
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  <infoTable>
    <nameOfIssuer>RESOLUTE FST PRODS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76117W109</cusip>
    <value>5871</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>775627</Sole>
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      <None>0</None>
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    <shrsOrPrnAmt>
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    <nameOfIssuer>REVOLUTION LIGHTING TECHNOLO</nameOfIssuer>
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    <nameOfIssuer>REXFORD INDL RLTY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <None>0</None>
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    <nameOfIssuer>REXFORD INDL RLTY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <None>0</None>
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    <cusip>811065101</cusip>
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    <nameOfIssuer>SUNEDISON INC</nameOfIssuer>
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    <nameOfIssuer>TORTOISE ENERGY INFRSTRCTR C</nameOfIssuer>
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    <titleOfClass>REIT ETF</titleOfClass>
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</SEC-DOCUMENT>
