SEC Filing | American Financial Group, Inc.

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SEC FORM 13F-HR

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

Report for the Calendar Year or Quarter Ended:

03-31-2014

Check here if Amendment		Amendment Number:
This Amendment (Check only one.):		is a restatement.
		adds new holdings entries.

Institutional Investment Manager Filing this Report:
Name:	AMERICAN FINANCIAL GROUP INC
Address:	GREAT AMERICAN INSURANCE GROUP TOWER
	301 E. 4TH STREET
	CINCINNATI, OH 45202
Form 13F File Number:	028-04389

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:
Name:	Brian S. Hertzman
Title:	Vice President and Controller
Phone:	513-579-2153
Signature, Place, and Date of Signing:
/s/ Brian S. Hertzman		Cincinnati, OH	05-14-2014
[Signature]		[City, State]	[Date]

Report Type (Check only one.):
X	13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)
	13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)
	13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

Form 13F Summary Page
	Report Summary:
	Number of Other Included Managers:	2
	Form 13F Information Table Entry Total:	223
	Form 13F Information Table Value Total:	1,129,039
		(thousands)

List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]
	No.	Form 13F File Number	Name
	1	28-498	Great American Insurance Company
	2	28-1258	Great American Life Insurance Company

SEC FORM 13-F Information Table

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ARGO GROUP INTL HLDGS LTD	COM	G0464B107	338	7,377	SH		DFND	1	7,377	0	0
EATON CORP PLC	SHS	G29183103	864	11,500	SH		DFND	1	11,500	0	0
ENSCO PLC	SHS CLASS A	G3157S106	554	10,500	SH		DFND	1	10,500	0	0
ACE LTD	SHS	H0023R105	6,241	63,000	SH		SOLE		63,000	0	0
AT&T INC	COM	00206R102	719	20,500	SH		DFND	1	20,500	0	0
AZZ INC	COM	002474104	214	4,788	SH		DFND	1	4,788	0	0
ABBVIE INC	COM	00287Y109	468	9,100	SH		DFND	1	9,100	0	0
ALLIANCE RES PARTNER L P	UT LTD PART	01877R108	1,186	14,090	SH		DFND	1	14,090	0	0
ALLIANCE RES PARTNER L P	UT LTD PART	01877R108	4,301	51,119	SH		DFND	2	51,119	0	0
ALLIANCE RES PARTNER L P	UT LTD PART	01877R108	2,097	24,927	SH		DFND		24,927	0	0
AMERICAN CAPITAL AGENCY CORP	COM	02503X105	4,108	191,167	SH		DFND	1	191,167	0	0
AMERICAN CAPITAL AGENCY CORP	COM	02503X105	7,106	330,666	SH		DFND	2	330,666	0	0
AMERICAN CAPITAL AGENCY CORP	COM	02503X105	6,442	299,767	SH		DFND		299,767	0	0
AMERICAN CAP MTG INVT CORP	COM	02504A104	7,707	410,585	SH		DFND	1	410,585	0	0
AMERICAN CAP MTG INVT CORP	COM	02504A104	10,172	541,920	SH		DFND	2	541,920	0	0
AMERICAN CAP MTG INVT CORP	COM	02504A104	5,740	305,795	SH		DFND		305,795	0	0
AMERICAN HOMES 4 RENT	CL A	02665T306	5,264	315,000	SH		DFND	1	315,000	0	0
AMERICAN HOMES 4 RENT	CL A	02665T306	10,026	600,000	SH		DFND	2	600,000	0	0
AMERICAN HOMES 4 RENT	CL A	02665T306	1,420	85,000	SH		DFND		85,000	0	0
AMERICAN RESIDENTIAL PPTYS I	COM	02927E303	8,990	500,000	SH		DFND	2	500,000	0	0
ANNALY CAP MGMT INC	COM	035710409	1,626	148,260	SH		DFND	2	148,260	0	0
ANWORTH MORTGAGE ASSET CP	COM	037347101	3,364	678,200	SH		DFND	1	678,200	0	0
ANWORTH MORTGAGE ASSET CP	COM	037347101	3,564	718,450	SH		DFND	2	718,450	0	0
ANWORTH MORTGAGE ASSET CP	COM	037347101	3,774	760,802	SH		DFND		760,802	0	0
APOLLO RESIDENTIAL MTG INC	COM	03763V102	7,002	431,437	SH		DFND	1	431,437	0	0
APOLLO RESIDENTIAL MTG INC	COM	03763V102	4,433	273,157	SH		DFND	2	273,157	0	0
APOLLO RESIDENTIAL MTG INC	COM	03763V102	3,149	194,000	SH		DFND		194,000	0	0
APPLE INC	COM	037833100	12,345	23,000	SH		DFND	1	23,000	0	0
APPLE INC	COM	037833100	11,111	20,700	SH		DFND	2	20,700	0	0
APPLE INC	COM	037833100	1,235	2,300	SH		DFND		2,300	0	0
ARCELORMITTAL SA LUXEMBOURG	NY REGISTRY SH	03938L104	6,460	400,000	SH		DFND	1	400,000	0	0
ARCELORMITTAL SA LUXEMBOURG	NY REGISTRY SH	03938L104	6,460	400,000	SH		DFND	2	400,000	0	0
ARCH COAL INC	COM	039380100	3,591	745,000	SH		DFND	1	745,000	0	0
ARCH COAL INC	COM	039380100	530	110,000	SH		DFND		110,000	0	0
BP PLC	SPONSORED ADR	055622104	3,968	82,500	SH		DFND	2	82,500	0	0
BP PLC	SPONSORED ADR	055622104	2,165	45,000	SH		DFND		45,000	0	0
BANK OF AMERICA CORPORATION	COM	060505104	11,406	663,120	SH		DFND	1	663,120	0	0
BANK OF AMERICA CORPORATION	COM	060505104	1,350	78,480	SH		DFND		78,480	0	0
BARCLAYS PLC	ADR	06738E204	2,677	170,500	SH		DFND	1	170,500	0	0
BARCLAYS PLC	ADR	06738E204	4,851	309,000	SH		DFND	2	309,000	0	0
BARCLAYS PLC	ADR	06738E204	4,090	260,500	SH		DFND		260,500	0	0
BASIC ENERGY SVCS INC NEW	COM	06985P100	228	8,324	SH		DFND	1	8,324	0	0
BERKLEY W R CORP	COM	084423102	4,870	117,000	SH		SOLE		117,000	0	0
BIG 5 SPORTING GOODS CORP	COM	08915P101	168	10,484	SH		DFND	1	10,484	0	0
BLDRS INDEX FDS TR	EMER MK 50 ADR	09348R300	383	10,529	SH		DFND	1	10,529	0	0
CAI INTERNATIONAL INC	COM	12477X106	290	11,760	SH		DFND	1	11,760	0	0
CYS INVTS INC	COM	12673A108	9,140	1,106,500	SH		DFND	1	1,106,500	0	0
CYS INVTS INC	COM	12673A108	9,648	1,168,000	SH		DFND	2	1,168,000	0	0
CYS INVTS INC	COM	12673A108	9,544	1,155,500	SH		DFND		1,155,500	0	0
CAPITAL BK FINL CORP	CL A COM	139794101	369	14,715	SH		DFND	2	14,715	0	0
CAPITOL FED FINL INC	COM	14057J101	452	36,000	SH		DFND	1	36,000	0	0
CARDINAL FINL CORP	COM	14149F109	246	13,804	SH		DFND	1	13,804	0	0
CARLYLE GROUP L P	COM UTS LTD PTN	14309L102	580	16,500	SH		DFND	1	16,500	0	0
CARLYLE GROUP L P	COM UTS LTD PTN	14309L102	2,558	72,800	SH		DFND	2	72,800	0	0
CEDAR REALTY TRUST INC	COM NEW	150602209	264	43,193	SH		DFND	1	43,193	0	0
CHEVRON CORP NEW	COM	166764100	4,614	38,800	SH		DFND	1	38,800	0	0
CHUBB CORP	COM	171232101	6,340	71,000	SH		SOLE		71,000	0	0
CISCO SYS INC	COM	17275R102	2,466	110,000	SH		DFND	1	110,000	0	0
CISCO SYS INC	COM	17275R102	5,604	250,000	SH		DFND	2	250,000	0	0
CITIGROUP INC	COM NEW	172967424	13,852	291,000	SH		DFND	1	291,000	0	0
CITIGROUP INC	COM NEW	172967424	7,806	164,000	SH		DFND	2	164,000	0	0
COACH INC	COM	189754104	5,736	115,500	SH		DFND	1	115,500	0	0
COACH INC	COM	189754104	6,431	129,500	SH		DFND		129,500	0	0
COLONY FINL INC	COM	19624R106	615	28,000	SH		DFND	1	28,000	0	0
COLONY FINL INC	COM	19624R106	922	42,000	SH		DFND		42,000	0	0
COMCAST CORP NEW	CL A	20030N101	5,179	103,500	SH		DFND	1	103,500	0	0
CONOCOPHILLIPS	COM	20825C104	492	7,000	SH		DFND	1	7,000	0	0
CORPORATE OFFICE PPTYS TR	SH BEN INT	22002T108	297	11,159	SH		DFND	1	11,159	0	0
CUSTOMERS BANCORP INC	COM	23204G100	4,099	196,429	SH		DFND	1	196,429	0	0
CUSTOMERS BANCORP INC	COM	23204G100	8,348	400,000	SH		DFND	2	400,000	0	0
CYRUSONE INC	COM	23283R100	222	10,643	SH		DFND	1	10,643	0	0
DELTA AIR LINES INC DEL	COM NEW	247361702	1,483	42,804	SH		DFND	1	42,804	0	0
DELTA AIR LINES INC DEL	COM NEW	247361702	1,092	31,512	SH		DFND	2	31,512	0	0
DELTA AIR LINES INC DEL	COM NEW	247361702	233	6,732	SH		DFND		6,732	0	0
DOMTAR CORP	COM NEW	257559203	304	2,705	SH		DFND	1	2,705	0	0
DU PONT E I DE NEMOURS & CO	COM	263534109	369	5,500	SH		DFND	1	5,500	0	0
E M C CORP MASS	COM	268648102	5,345	195,000	SH		DFND	1	195,000	0	0
E M C CORP MASS	COM	268648102	5,482	200,000	SH		DFND	2	200,000	0	0
E M C CORP MASS	COM	268648102	1,508	55,000	SH		DFND		55,000	0	0
ELLINGTON FINANCIAL LLC	COM	288522303	7,449	312,700	SH		DFND	1	312,700	0	0
ELLINGTON FINANCIAL LLC	COM	288522303	16,701	701,153	SH		DFND	2	701,153	0	0
ELLINGTON FINANCIAL LLC	COM	288522303	953	40,000	SH		DFND		40,000	0	0
ENERSYS	COM	29275Y102	270	3,899	SH		DFND	1	3,899	0	0
FIRST FINL BANCORP OH	COM	320209109	4,169	231,867	SH		DFND	1	231,867	0	0
FIRSTMERIT CORP	COM	337915102	254	12,182	SH		DFND	1	12,182	0	0
FLAGSTAR BANCORP INC	COM PAR .001	337930705	3,980	179,104	SH		DFND	1	179,104	0	0
FLAGSTAR BANCORP INC	COM PAR .001	337930705	3,980	179,104	SH		DFND	2	179,104	0	0
FLUSHING FINL CORP	COM	343873105	257	12,194	SH		DFND	1	12,194	0	0
FREEPORT-MCMORAN COPPER & GO	COM	35671D857	6,945	210,000	SH		DFND	1	210,000	0	0
FREEPORT-MCMORAN COPPER & GO	COM	35671D857	2,976	90,000	SH		DFND		90,000	0	0
FULL HOUSE RESORTS INC	COM	359678109	77	35,331	SH		DFND	1	35,331	0	0
FULL HOUSE RESORTS INC	COM	359678109	69	31,617	SH		DFND	2	31,617	0	0
GENERAL ELECTRIC CO	COM	369604103	12,945	500,000	SH		DFND	1	500,000	0	0
GENERAL MLS INC	COM	370334104	777	15,000	SH		DFND	1	15,000	0	0
GENERAL MTRS CO	COM	37045V100	7,865	228,500	SH		DFND	1	228,500	0	0
GENERAL MTRS CO	COM	37045V100	9,345	271,500	SH		DFND		271,500	0	0
GILEAD SCIENCES INC	COM	375558103	1,949	27,500	SH		DFND	1	27,500	0	0
GILEAD SCIENCES INC	COM	375558104	1,949	27,500	SH		DFND	2	27,500	0	0
GREAT PLAINS ENERGY INC	COM	391164100	206	7,602	SH		DFND	1	7,602	0	0
HERCULES OFFSHORE INC	COM	427093109	236	51,407	SH		DFND	1	51,407	0	0
HEWLETT PACKARD CO	COM	428236103	13,308	411,250	SH		DFND	1	411,250	0	0
HEWLETT PACKARD CO	COM	428236103	3,260	100,750	SH		DFND	2	100,750	0	0
HEWLETT PACKARD CO	COM	428236103	1,877	58,000	SH		DFND		58,000	0	0
HILLENBRAND INC	COM	431571108	210	6,484	SH		DFND	1	6,484	0	0
HOMESTREET INC	COM	43785V102	1,957	100,100	SH		DFND	1	100,100	0	0
HOMESTREET INC	COM	43785V102	4,692	240,000	SH		DFND	2	240,000	0	0
HOMESTREET INC	COM	43785V102	3,128	160,000	SH		DFND		160,000	0	0
IBERIABANK CORP	COM	450828108	309	4,405	SH		DFND	1	4,405	0	0
INDEXIQ ETF TR	IQ GLB RES ETF	45409B883	288	9,861	SH		DFND	1	9,861	0	0
INFINITY PHARMACEUTICALS INC	COM	45665G303	238	20,000	SH		DFND	1	20,000	0	0
INFINITY PHARMACEUTICALS INC	COM	45665G303	238	20,000	SH		DFND	2	20,000	0	0
INSTEEL INDUSTRIES INC	COM	45774W108	484	24,609	SH		DFND	1	24,609	0	0
INSTEEL INDUSTRIES INC	COM	45774W108	437	22,216	SH		DFND	2	22,216	0	0
INTEL CORP	COM	458140100	13,656	529,000	SH		DFND	1	529,000	0	0
INVESCO MORTGAGE CAPITAL INC	COM	46131B100	1,331	80,800	SH		DFND	1	80,800	0	0
INVESCO MORTGAGE CAPITAL INC	COM	46131B100	1,680	102,000	SH		DFND	2	102,000	0	0
INVESCO MORTGAGE CAPITAL INC	COM	46131B100	344	20,900	SH		DFND		20,900	0	0
ISHARES	MSCI EAFE ETF	464287465	502	7,464	SH		DFND	1	7,464	0	0
JPMORGAN CHASE & CO	COM	46625H100	15,785	260,000	SH		DFND	1	260,000	0	0
JOHNSON & JOHNSON	COM	478160104	9,253	94,200	SH		DFND	1	94,200	0	0
JOURNAL COMMUNICATIONS INC	CL A	481130102	154	17,372	SH		DFND	1	17,372	0	0
KELLOGG CO	COM	487836108	13,724	218,850	SH		DFND	1	218,850	0	0
KOHLS CORP	COM	500255104	17,040	300,000	SH		DFND	1	300,000	0	0
KOHLS CORP	COM	500255104	1,136	20,000	SH		DFND		20,000	0	0
LCNB CORP	COM	50181P100	1,977	114,285	SH		DFND	1	114,285	0	0
LTX-CREDENCE CORP	COM NEW	502403207	287	32,188	SH		DFND	1	32,188	0	0
LEUCADIA NATL CORP	COM	527288104	221	7,896	SH		DFND	1	7,896	0	0
LEUCADIA NATL CORP	COM	527288104	233	8,315	SH		DFND	2	8,315	0	0
LEUCADIA NATL CORP	COM	527288104	7	263	SH		DFND		263	0	0
LINN ENERGY LLC	UNIT LTD LIAB	536020100	2,595	91,631	SH		DFND		91,631	0	0
MFA FINL INC	COM	55272X102	194	25,000	SH		DFND	1	25,000	0	0
MFA FINL INC	COM	55272X102	194	25,000	SH		DFND		25,000	0	0
MYR GROUP INC DEL	COM	55405W104	9,738	384,615	SH		DFND	1	384,615	0	0
MAGELLAN HEALTH SVCS INC	COM NEW	559079207	232	3,907	SH		DFND	1	3,907	0	0
MANAGED HIGH YIELD PLUS FD I	COM	561911108	21	10,000	SH		DFND	1	10,000	0	0
MARATHON OIL CORP	COM	565849106	7,033	198,000	SH		DFND	2	198,000	0	0
MEADOWBROOK INS GROUP INC	COM	58319P108	192	32,873	SH		DFND	1	32,873	0	0
MEDTRONIC INC	COM	585055106	6,154	100,000	SH		DFND	1	100,000	0	0
MERCK & CO INC NEW	COM	58933Y105	14,249	251,000	SH		DFND	1	251,000	0	0
MERCK & CO INC NEW	COM	58933Y105	1,135	20,000	SH		DFND		20,000	0	0
METLIFE INC	COM	59156R108	8,448	160,000	SH		DFND	1	160,000	0	0
METLIFE INC	COM	59156R108	8,987	170,200	SH		DFND	2	170,200	0	0
MICROSOFT CORP	COM	594918104	18,302	446,500	SH		DFND	1	446,500	0	0
MICROSEMI CORP	COM	595137100	294	11,739	SH		DFND	1	11,739	0	0
MONDELEZ INTL INC	CL A	609207105	7,713	223,250	SH		DFND	1	223,250	0	0
NMI HLDGS INC	CL A	629209305	5,415	462,000	SH		DFND	1	462,000	0	0
NMI HLDGS INC	CL A	629209305	10,853	926,000	SH		DFND	2	926,000	0	0
NATIONAL BK HLDGS CORP	CL A	633707104	873	43,500	SH		DFND	1	43,500	0	0
NATIONAL BK HLDGS CORP	CL A	633707104	1,313	65,400	SH		DFND	2	65,400	0	0
NATIONAL GEN HLDGS CORP	COM	636220303	6,685	477,500	SH		DFND	1	477,500	0	0
NATIONAL GEN HLDGS CORP	COM	636220303	5,348	382,000	SH		DFND	2	382,000	0	0
NATIONAL GEN HLDGS CORP	COM	636220303	1,337	95,500	SH		DFND		95,500	0	0
NATIONAL INTERSTATE CORP	COM	63654U100	273,462	10,200,000	SH		DFND	1	10,200,000	0	0
NEW YORK CMNTY BANCORP INC	COM	649445103	5,625	350,000	SH		DFND	1	350,000	0	0
NICE SYS LTD	SPONSORED ADR	653656108	293	6,556	SH		DFND	1	6,556	0	0
OMNICELL INC	COM	68213N109	267	9,329	SH		DFND	1	9,329	0	0
OMEROS CORP	COM	682143102	1,232	102,040	SH		DFND	1	102,040	0	0
OMEROS CORP	COM	682143102	1,847	153,061	SH		DFND	2	153,061	0	0
ORBITAL SCIENCES CORP	COM	685564106	345	12,378	SH		DFND	1	12,378	0	0
ORGANOVO HLDGS INC	COM	68620A104	699	91,500	SH		DFND	1	91,500	0	0
ORGANOVO HLDGS INC	COM	68620A104	1,222	160,000	SH		DFND	2	160,000	0	0
PNC FINL SVCS GROUP INC	COM	693475105	4,328	49,750	SH		DFND	1	49,750	0	0
PNC FINL SVCS GROUP INC	COM	693475105	5,242	60,250	SH		DFND		60,250	0	0
PEABODY ENERGY CORP	COM	704549104	5,882	360,000	SH		DFND	1	360,000	0	0
PEABODY ENERGY CORP	COM	704549104	4,412	270,000	SH		DFND		270,000	0	0
PEOPLES UNITED FINANCIAL INC	COM	712704105	9,368	630,000	SH		DFND	1	630,000	0	0
PEPSICO INC	COM	713448108	17,957	215,050	SH		DFND	1	215,050	0	0
PETROQUEST ENERGY INC	COM	716748108	385	67,534	SH		DFND	1	67,534	0	0
PFIZER INC	COM	717081103	13,426	418,000	SH		DFND	1	418,000	0	0
PFIZER INC	COM	717081103	642	20,000	SH		DFND		20,000	0	0
PHILIP MORRIS INTL INC	COM	718172109	532	6,500	SH		DFND	1	6,500	0	0
POWERSHARES ETF TRUST	DYNAMIC MKT PT	73935X104	1,883	26,391	SH		DFND	1	26,391	0	0
POWERSHARES ETF TRUST	HI YLD EQ DVDN	73935X302	365	29,947	SH		DFND	1	29,947	0	0
PREMIERE GLOBAL SVCS INC	COM	740585104	252	20,924	SH		DFND	1	20,924	0	0
PROCTER & GAMBLE CO	COM	742718109	6,399	79,391	SH		DFND	1	79,391	0	0
PRUDENTIAL FINL INC	COM	744320102	7,407	87,500	SH		DFND	1	87,500	0	0
PRUDENTIAL FINL INC	COM	744320102	3,498	41,323	SH		DFND		41,323	0	0
RF MICRODEVICES INC	COM	749941100	180	22,837	SH		DFND	1	22,837	0	0
RAMCO-GERSHENSON PPTYS TR	COM SH BEN INT	751452202	283	17,345	SH		DFND	1	17,345	0	0
REVENUESHARES ETF TR	SMALL CAP FD	761396308	243	4,443	SH		DFND	1	4,443	0	0
REVOLUTION LIGHTING TECHNOLO	COM	76155G107	5,409	1,717,202	SH		DFND	1	1,717,202	0	0
REVOLUTION LIGHTING TECHNOLO	COM	76155G107	5,409	1,717,202	SH		DFND	2	1,717,202	0	0
REXFORD INDL RLTY INC	COM	76169C100	638	45,000	SH		DFND	1	45,000	0	0
REXFORD INDL RLTY INC	COM	76169C100	1,489	105,000	SH		DFND	2	105,000	0	0
RUDOLPH TECHNOLOGIES INC	COM	781270103	237	20,778	SH		DFND	1	20,778	0	0
SIZMEK INC	COM	83013P105	200	18,796	SH		DFND	1	18,796	0	0
STAPLES INC	COM	855030102	2,835	250,000	SH		DFND	1	250,000	0	0
STARWOOD PPTY TR INC	COM	85571B105	354	15,000	SH		DFND	1	15,000	0	0
STARWOOD PPTY TR INC	COM	85571B105	354	15,000	SH		DFND		15,000	0	0
STEWART INFORMATION SVCS COR	COM	860372101	288	8,187	SH		DFND	1	8,187	0	0
STONEGATE MTG CORP	COM	86181Q300	13,457	905,555	SH		DFND	1	905,555	0	0
STONEGATE MTG CORP	COM	86181Q300	12,111	815,000	SH		DFND	2	815,000	0	0
STONEGATE MTG CORP	COM	86181Q300	1,346	90,556	SH		DFND		90,556	0	0
STONERIDGE INC	COM	86183P102	220	19,563	SH		DFND	1	19,563	0	0
SYKES ENTERPRISES INC	COM	871237103	238	11,970	SH		DFND	1	11,970	0	0
SYNAPTICS INC	COM	87157D109	202	3,369	SH		DFND	1	3,369	0	0
SYSCO CORP	COM	871829107	686	19,000	SH		DFND	1	19,000	0	0
TARGET CORP	COM	87612E106	8,471	140,000	SH		DFND	1	140,000	0	0
TECK RESOURCES LTD	CL B	878742204	1,606	74,100	SH		DFND	1	74,100	0	0
TECK RESOURCES LTD	CL B	878742204	867	40,000	SH		DFND		40,000	0	0
THOMSON REUTERS CORP	COM	884903105	616	18,000	SH		DFND	1	18,000	0	0
TORTOISE ENERGY CAP CORP	COM	89147U100	855	25,800	SH		DFND	1	25,800	0	0
TORTOISE ENERGY CAP CORP	COM	89147U100	2,848	85,900	SH		DFND	2	85,900	0	0
TWO HBRS INVT CORP	COM	90187B101	4,715	460,000	SH		DFND	1	460,000	0	0
TWO HBRS INVT CORP	COM	90187B101	15,929	1,554,000	SH		DFND	2	1,554,000	0	0
TWO HBRS INVT CORP	COM	90187B101	6,263	611,000	SH		DFND		611,000	0	0
URS CORP NEW	COM	903236107	235	4,994	SH		DFND	1	4,994	0	0
UNITED CONTL HLDGS INC	COM	910047109	2,530	56,687	SH		DFND	1	56,687	0	0
UNITED CONTL HLDGS INC	COM	910047109	2,693	60,336	SH		DFND	2	60,336	0	0
UNITED CONTL HLDGS INC	COM	910047109	580	13,001	SH		DFND		13,001	0	0
VANGUARD INDEX FDS	REIT ETF	922908553	331	4,694	SH		DFND	1	4,694	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	1,633	34,321	SH		DFND	2	34,321	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	1,182	24,853	SH		DFND		24,853	0	0
VERISK ANALYTICS INC	CL A	92345Y106	11,164	186,191	SH		DFND	1	186,191	0	0
VIACOM INC NEW	CL B	92553P201	5,949	70,000	SH		DFND		70,000	0	0
VODAFONE GROUP PLC NEW	SPNSR ADR NO PAR	92857W308	2,620	71,181	SH		DFND	2	71,181	0	0
VODAFONE GROUP PLC NEW	SPNSR ADR NO PAR	92857W308	1,897	51,545	SH		DFND		51,545	0	0
VOLTARI CORP	COM NEW	92870X309	20	5,652	SH		DFND	1	5,652	0	0
VOLTARI CORP	COM NEW	92870X309	30	8,478	SH		DFND	2	8,478	0	0
WABASH NATL CORP	COM	929566107	310	22,547	SH		DFND	1	22,547	0	0
WAL-MART STORES INC	COM	931142103	9,172	120,000	SH		DFND	1	120,000	0	0
WELLS FARGO & CO NEW	COM	949746101	13,529	272,000	SH		DFND	1	272,000	0	0
WISCONSIN ENERGY CORP	COM	976657106	745	16,000	SH		DFND	1	16,000	0	0