UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Quarter Ended December 31, 2010
AMERICAN FINANCIAL GROUP, INC.
One East Fourth Street, Cincinnati, Ohio 45202
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(Name and Address of Institutional Investment Manager Filing this Report)
Form 13F File Number: 28-4389
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.
Robert H. Ruffing
Vice President and Controller
(513) 579-2144
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(Name, Title and Phone Number of Person Signing
this Report on Behalf of Reporting Manager)
Signature:
/s/Robert H. Ruffing Cincinnati, Ohio February 9, 2011
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Robert H. Ruffing
Vice President and Controller
Report Type:
[X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
FORM 13F SUMMARY PAGE
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Number of Other Included Managers: 1
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Form 13F Information Table Entry Total: 76
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Form 13F Information Table Value Total (thousands): $544,562
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Name and 13F file numbers of all Institutional Investment Managers with respect
to which this schedule is filed (other than American Financial Group, Inc.):
Number 13F File Number Name of Subsidiary
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1. 28-498 Great American Insurance Company
FORM 13F INFORMATION TABLE
Column 4: Column 5: Column 8:
Column 2: Market Shares or Column 6: Column 7: Voting Authority
Column 1: Title of Column 3: Value Principal Investment Other ---------------------------
Name of Issuer Class CUSIP (000's) Amount Discretion Managers Sole Shared None
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HOLDINGS OF GREAT AMERICAN INSURANCE COMPANY
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AMERICAN RAILCAR INDS INC COM 02916P 10 3 1,505 68,000SH Defined 1 68,000
ANWORTH MORTGAGE ASSET CP COM 037347 10 1 875 125,000SH Defined " 125,000
BANK OF AMERICA CORPORATION COM 060505 10 4 1,442 108,120SH Defined " 108,120
CALAMP CORP COM 128126 10 9 439 139,750SH Defined " 139,750
CHEVRON CORP NEW COM 166764 10 0 11,525 126,300SH Defined " 126,300
CITIGROUP INC COM 172967 10 1 2,838 600,000SH Defined " 600,000
COCA COLA CO COM 191216 10 0 11,345 172,500SH Defined " 172,500
COMCAST CORP NEW CL A 20030N 10 1 8,865 403,500SH Defined " 403,500
DELTA AIR LINES INC DEL COM NEW 247361 70 2 460 36,473SH Defined " 36,473
DISH NETWORK CORP CL A 25470M 10 9 741 37,675SH Defined " 37,675
ECHOSTAR CORP CL A 278768 10 6 619 24,786SH Defined " 24,786
ELLINGTON FINANCIAL LLC COM 288522 30 3 6,672 300,000SH Defined " 300,000
FLAGSTAR BANCORP INC COM NEW 337930 50 7 27 16,500SH Defined " 16,500
FULL HOUSE RESORTS INC COM 359678 10 9 120 35,331SH Defined " 35,331
HEINZ H J CO COM 423074 10 3 10,275 207,750SH Defined " 207,750
INSTEEL INDUSTRIES INC COM 45774W 10 8 307 24,609SH Defined " 24,609
INTEL CORP COM 458140 10 0 10,704 509,000SH Defined " 509,000
INTERNATIONAL BUSINESS MACHS COM 459200 10 1 11,117 75,750SH Defined " 75,750
JPMORGAN CHASE & CO COM 46625H 10 0 5,303 125,000SH Defined " 125,000
JOHNSON & JOHNSON COM 478160 10 4 9,958 161,000SH Defined " 161,000
KELLOGG CO COM 487836 10 8 11,179 218,850SH Defined " 218,850
KIMBERLY CLARK CORP COM 494368 10 3 11,347 180,000SH Defined " 180,000
KRAFT FOODS INC CL A 50075N 10 4 14,912 473,250SH Defined " 473,250
LOCKHEED MARTIN CORP COM 539830 10 9 5,278 75,500SH Defined " 75,500
MYR GROUP INC DEL COM 55405W 10 4 8,077 384,615SH Defined " 384,615
MCDONALDS CORP COM 580135 10 1 10,708 139,500SH Defined " 139,500
MERCK & CO INC NEW COM 58933Y 10 5 9,046 251,000SH Defined " 251,000
MICROSOFT CORP COM 594918 10 4 11,206 401,500SH Defined " 401,500
MOTRICITY INC COM 620107 10 2 1,532 82,525SH Defined " 82,525
NATIONAL INTERSTATE CORP COM 63654U 10 0 218,382 10,200,000SH Defined " 10,200,000
O CHARLEYS INC COM 670823 10 3 212 29,500SH Defined " 29,500
OMEROS CORP COM 682143 10 2 841 102,040SH Defined " 102,040
PATTERSON UTI ENERGY INC COM 703481 10 1 862 40,000SH Defined " 40,000
PEPSICO INC COM 713448 10 8 9,803 150,050SH Defined " 150,050
PFIZER INC COM 717081 10 3 7,319 418,000SH Defined " 418,000
RAYTHEON CO COM NEW 755111 50 7 3,499 75,500SH Defined " 75,500
3M CO COM 88579Y 10 1 10,054 116,500SH Defined " 116,500
TIME WARNER INC COM NEW 887317 30 3 280 8,716SH Defined " 8,716
TORTOISE ENERGY CAP CORP COM 89147U 10 0 717 25,800SH Defined " 25,800
VIRGIN MEDIA INC COM 92769L 10 1 20,098 737,807SH Defined " 737,807
WALGREEN CO COM 931422 10 9 9,604 246,500SH Defined " 246,500
WELLS FARGO & CO NEW COM 949746 10 1 5,578 180,000SH Defined " 180,000
HOLDINGS OF OTHER ENTITIES
EACH HAVING LESS THAN
$100 MILLION IN 13F SECURITIES
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ACE LTD SHS H0023R 10 5 3,922 63,000SH Sole 63,000
AMERICAN RAILCAR INDS INC COM 02916P 10 3 1,496 67,581SH Defined 67,581
ANWORTH MORTGAGE ASSET CP COM 037347 10 1 875 125,000SH Defined 125,000
BANK OF AMERICA CORPORATION COM 060505 10 4 4,315 323,480SH Defined 323,480
BERKLEY W R CORP COM 084423 10 2 3,203 117,000SH Sole 117,000
CALAMP CORP COM 128126 10 9 442 140,750SH Defined 140,750
CHUBB CORP COM 171232 10 1 4,234 71,000SH Sole 71,000
DELTA AIR LINES INC DEL COM NEW 247361 70 2 495 39,306SH Defined 39,306
DEX ONE CORP COM 25212W 10 0 80 10,772SH Defined 10,772
DISH NETWORK CORP CL A 25470M 10 9 1,111 56,512SH Defined 56,512
EATON VANCE TAX MNG GBL DV E COM 27829F 10 8 421 40,000SH Defined 1 40,000
ECHOSTAR CORP CL A 278768 10 6 928 37,179SH Defined 37,179
ELLINGTON FINANCIAL LLC COM 288522 30 3 10,008 450,000SH Defined 450,000
FLAGSTAR BANCORP INC COM NEW 337930 50 7 27 16,500SH Defined 16,500
FULL HOUSE RESORTS INC COM 359678 10 9 107 31,617SH Defined 31,617
INSTEEL INDUSTRIES INC COM 45774W 10 8 277 22,216SH Defined 22,216
ISHARES TR MSCI EAFE IDX 464287 46 5 2,503 43,000SH Defined 1 43,000
ISHARES TR DJ US TELECOMM 464287 71 3 223 9,550SH Defined " 9,550
KEYCORP NEW COM 493267 10 8 462 52,222SH Defined " 52,222
MANAGED HIGH YIELD PLUS FD I COM 561911 10 8 22 10,000SH Defined " 10,000
MERCK & CO INC NEW COM 58933Y 10 5 721 20,000SH Defined 20,000
MOTRICITY INC COM 620107 10 2 2,299 123,787SH Defined 123,787
O CHARLEYS INC COM 670823 10 3 322 44,654SH Defined 44,654
OMEROS CORP COM 682143 10 2 1,261 153,061SH Defined 153,061
PATTERSON UTI ENERGY INC COM 703481 10 1 862 40,000SH Defined 40,000
PFIZER INC COM 717081 10 3 350 20,000SH Defined 20,000
POWERSHARES ETF TRUST DYNAMIC MKT PT 73935X 10 4 1,074 24,400SH Defined 1 24,400
POWERSHARES ETF TRUST HI YLD EQ DVDN 73935X 30 2 189 21,300SH Defined " 21,300
SPDR S&P 500 ETF TR TR UNIT 78462F 10 3 5,533 44,000SH Defined " 44,000
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y 10 0 217 5.660SH Defined " 5,660
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y 30 8 1,028 35,060SH Defined " 35,060
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y 88 6 235 7,500SH Defined " 7,500
TORTOISE ENERGY CAP CORP COM 89147U 10 0 2,385 85,900SH Defined 85,900
VIRGIN MEDIA INC COM 92769L 10 1 27,264 1,000,888SH Defined 1,000,888
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REPORT TOTAL $544,562
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