<SEC-DOCUMENT>0001042046-24-000004.txt : 20240212
<SEC-HEADER>0001042046-24-000004.hdr.sgml : 20240212
<ACCEPTANCE-DATETIME>20240212143642
ACCESSION NUMBER:		0001042046-24-000004
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20231231
FILED AS OF DATE:		20240212
DATE AS OF CHANGE:		20240212
EFFECTIVENESS DATE:		20240212

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN FINANCIAL GROUP INC
		CENTRAL INDEX KEY:			0001042046
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		ORGANIZATION NAME:           	02 Finance
		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:		24619224

	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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          <cik>0001042046</cik>
          <ccc>XXXXXXXX</ccc>
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      <periodOfReport>12-31-2023</periodOfReport>
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      <reportCalendarOrQuarter>12-31-2023</reportCalendarOrQuarter>
      <isAmendment>false</isAmendment>
      <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>
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      <provideInfoForInstruction5>N</provideInfoForInstruction5>
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    <signatureBlock>
      <name>Robert A. Dee</name>
      <title>Assistant Vice President and Controller</title>
      <phone>513-579-2153</phone>
      <signature>/s/ Robert A. Dee</signature>
      <city>CINCINNATI</city>
      <stateOrCountry>OH</stateOrCountry>
      <signatureDate>02-12-2024</signatureDate>
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    <summaryPage>
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      <tableEntryTotal>100</tableEntryTotal>
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            <name>Great American Insurance Company</name>
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<DOCUMENT>
<TYPE>INFORMATION TABLE
<SEQUENCE>2
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<DESCRIPTION>INFORMATION TABLE
<TEXT>
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CO</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>37045V100</cusip><value>1943</value><shrsOrPrnAmt><sshPrnamt>54080</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>54080</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>GLOBAL PARTNERS LP</nameOfIssuer><titleOfClass>COM UNITS</titleOfClass><cusip>37946R109</cusip><value>740</value><shrsOrPrnAmt><sshPrnamt>17500</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>17500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>GRANITE PT MTG TR INC</nameOfIssuer><titleOfClass>COM STK</titleOfClass><cusip>38741L107</cusip><value>233</value><shrsOrPrnAmt><sshPrnamt>39231</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>39231</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>GRANITE PT MTG TR INC</nameOfIssuer><titleOfClass>COM STK</titleOfClass><cusip>38741L107</cusip><value>248</value><shrsOrPrnAmt><sshPrnamt>41790</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>41790</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>GRAY TELEVISION INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>389375106</cusip><value>4571</value><shrsOrPrnAmt><sshPrnamt>510202</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>510202</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>GRAY TELEVISION INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>389375106</cusip><value>269</value><shrsOrPrnAmt><sshPrnamt>30000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>30000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HESS MIDSTREAM LP</nameOfIssuer><titleOfClass>CL A SHS</titleOfClass><cusip>428103105</cusip><value>664</value><shrsOrPrnAmt><sshPrnamt>21000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>21000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>IHEARTMEDIA INC</nameOfIssuer><titleOfClass>COM CL A</titleOfClass><cusip>45174J509</cusip><value>433</value><shrsOrPrnAmt><sshPrnamt>162091</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>162091</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>JOURNEY MED CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>48115J109</cusip><value>1037</value><shrsOrPrnAmt><sshPrnamt>180000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>180000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>KELLANOVA</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>487836108</cusip><value>2172</value><shrsOrPrnAmt><sshPrnamt>38850</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>38850</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>KEROS THERAPEUTICS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>492327101</cusip><value>402</value><shrsOrPrnAmt><sshPrnamt>10105</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>10105</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>KRAFT HEINZ CO</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>500754106</cusip><value>4068</value><shrsOrPrnAmt><sshPrnamt>110000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>110000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>LCNB CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>50181P100</cusip><value>1450</value><shrsOrPrnAmt><sshPrnamt>91920</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>91920</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>LCNB CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>50181P100</cusip><value>26</value><shrsOrPrnAmt><sshPrnamt>1662</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>1662</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>LIFEMD INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>53216B104</cusip><value>2819</value><shrsOrPrnAmt><sshPrnamt>340000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>340000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>MFA FINL INC</nameOfIssuer><titleOfClass>NOTE 6.250% 6/1</titleOfClass><cusip>55272XAA0</cusip><value>8874</value><shrsOrPrnAmt><sshPrnamt>8969000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>8969000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>MFA FINL INC</nameOfIssuer><titleOfClass>NOTE 6.250% 6/1</titleOfClass><cusip>55272XAA0</cusip><value>3957</value><shrsOrPrnAmt><sshPrnamt>4000000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>4000000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>MPLX LP</nameOfIssuer><titleOfClass>COM UNIT REP LTD</titleOfClass><cusip>55336V100</cusip><value>918</value><shrsOrPrnAmt><sshPrnamt>25000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>25000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>MOLSON COORS BEVERAGE CO</nameOfIssuer><titleOfClass>CL B</titleOfClass><cusip>60871R209</cusip><value>1530</value><shrsOrPrnAmt><sshPrnamt>25000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>25000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>NEXSTAR MEDIA GROUP INC</nameOfIssuer><titleOfClass>COMMON STOCK</titleOfClass><cusip>65336K103</cusip><value>33683</value><shrsOrPrnAmt><sshPrnamt>214882</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>214882</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>NEXSTAR MEDIA GROUP INC</nameOfIssuer><titleOfClass>COMMON STOCK</titleOfClass><cusip>65336K103</cusip><value>1975</value><shrsOrPrnAmt><sshPrnamt>12600</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>12600</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>NEXTNAV INC</nameOfIssuer><titleOfClass>COMMON STOCK</titleOfClass><cusip>65345N106</cusip><value>2225</value><shrsOrPrnAmt><sshPrnamt>500000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>500000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>NUSTAR ENERGY LP</nameOfIssuer><titleOfClass>UNIT COM</titleOfClass><cusip>67058H102</cusip><value>187</value><shrsOrPrnAmt><sshPrnamt>10000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>10000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>OMEROS CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>682143102</cusip><value>210</value><shrsOrPrnAmt><sshPrnamt>64113</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>64113</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ONEOK INC NEW</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>682680103</cusip><value>1768</value><shrsOrPrnAmt><sshPrnamt>25172</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>25172</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>PENNYMAC CORP</nameOfIssuer><titleOfClass>NOTE 5.500%11/0</titleOfClass><cusip>70932AAD5</cusip><value>6839</value><shrsOrPrnAmt><sshPrnamt>7000000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>7000000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>PHENIXFIN CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>71742W103</cusip><value>2281</value><shrsOrPrnAmt><sshPrnamt>54003</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>54003</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>PHENIXFIN CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>71742W103</cusip><value>436</value><shrsOrPrnAmt><sshPrnamt>10324</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>10324</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>PHILLIPS 66</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>718546104</cusip><value>832</value><shrsOrPrnAmt><sshPrnamt>6250</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>6250</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>PLAINS ALL AMERN PIPELINE L</nameOfIssuer><titleOfClass>UNIT LTD PARTN</titleOfClass><cusip>726503105</cusip><value>6249</value><shrsOrPrnAmt><sshPrnamt>412500</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>412500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>POTBELLY CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>73754Y100</cusip><value>313</value><shrsOrPrnAmt><sshPrnamt>30000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>30000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>POTBELLY CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>73754Y100</cusip><value>729</value><shrsOrPrnAmt><sshPrnamt>70000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>70000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>PRECIGEN INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>74017N105</cusip><value>89</value><shrsOrPrnAmt><sshPrnamt>66114</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>66114</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>READY CAPITAL CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>75574U101</cusip><value>2543</value><shrsOrPrnAmt><sshPrnamt>248085</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>248085</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>READY CAPITAL CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>75574U101</cusip><value>1415</value><shrsOrPrnAmt><sshPrnamt>138035</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>138035</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SHELL PLC</nameOfIssuer><titleOfClass>SPON ADS</titleOfClass><cusip>780259305</cusip><value>954</value><shrsOrPrnAmt><sshPrnamt>14500</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>14500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SELECT WATER SOLUTIONS INC</nameOfIssuer><titleOfClass>CL A COM</titleOfClass><cusip>81617J301</cusip><value>2094</value><shrsOrPrnAmt><sshPrnamt>275899</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>275899</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SINCLAIR INC</nameOfIssuer><titleOfClass>CL A</titleOfClass><cusip>829242106</cusip><value>8579</value><shrsOrPrnAmt><sshPrnamt>658420</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>658420</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SUNOCO LP/SUNOCO FIN CORP</nameOfIssuer><titleOfClass>COM UT REP LP</titleOfClass><cusip>86765K109</cusip><value>929</value><shrsOrPrnAmt><sshPrnamt>15500</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>15500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>TALOS ENERGY INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>87484T108</cusip><value>21169</value><shrsOrPrnAmt><sshPrnamt>1487637</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>1487637</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>TEGNA INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>87901J105</cusip><value>1071</value><shrsOrPrnAmt><sshPrnamt>70000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>70000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>TEGNA INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>87901J105</cusip><value>459</value><shrsOrPrnAmt><sshPrnamt>30000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>30000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>TORTOISE ENERGY INFRA CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>89147L886</cusip><value>2871</value><shrsOrPrnAmt><sshPrnamt>99807</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>99807</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>TORTOISE ENERGY INFRA CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>89147L886</cusip><value>296</value><shrsOrPrnAmt><sshPrnamt>10295</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>10295</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>TWO HARBORS INVENTMENT CORPO</nameOfIssuer><titleOfClass>NOTE 6.250% 1/1</titleOfClass><cusip>90187BAB7</cusip><value>3699</value><shrsOrPrnAmt><sshPrnamt>4000000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>4000000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>TWO HARBORS INVENTMENT CORPO</nameOfIssuer><titleOfClass>NOTE 6.250% 1/1</titleOfClass><cusip>90187BAB7</cusip><value>1850</value><shrsOrPrnAmt><sshPrnamt>2000000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>2000000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>TWO HBRS INVT CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>90187B804</cusip><value>0</value><shrsOrPrnAmt><sshPrnamt>1</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>1</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>TWO HBRS INVT CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>90187B804</cusip><value>194</value><shrsOrPrnAmt><sshPrnamt>13898</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>13898</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>USA COMPRESSION PARTNERS LP</nameOfIssuer><titleOfClass>COMUNIT 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INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>92556V106</cusip><value>542</value><shrsOrPrnAmt><sshPrnamt>50000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>50000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>VIATRIS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>92556V106</cusip><value>542</value><shrsOrPrnAmt><sshPrnamt>50000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>50000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>WARNER BROS DISCOVERY INC</nameOfIssuer><titleOfClass>COM SER A</titleOfClass><cusip>934423104</cusip><value>7188</value><shrsOrPrnAmt><sshPrnamt>631665</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>631665</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>WARNER BROS DISCOVERY INC</nameOfIssuer><titleOfClass>COM SER A</titleOfClass><cusip>934423104</cusip><value>341</value><shrsOrPrnAmt><sshPrnamt>30000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><votingAuthority><Sole>30000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>WESTERN MIDSTREAM PARTNERS L</nameOfIssuer><titleOfClass>COM UNIT LP INT</titleOfClass><cusip>958669103</cusip><value>732</value><shrsOrPrnAmt><sshPrnamt>25000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>25000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>XPERI INC</nameOfIssuer><titleOfClass>COMMON STOCK</titleOfClass><cusip>98423J101</cusip><value>893</value><shrsOrPrnAmt><sshPrnamt>81071</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>81071</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable></informationTable><!-- Other Managers: 1|Great American Insurance Company|028-00498||| --><!-- tableEntryCount=100 tableValueTotal=271901 -->
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</SEC-DOCUMENT>
