UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Quarter Ended March 31, 2008
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 May 12, 2008
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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: 2
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Form 13F Information Table Entry Total: 195
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Form 13F Information Table Value Total (thousands): $729,290
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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
2. Unassigned Great American Life 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
-------------- ---------------- ----------- --------- ------------ ---------- -------- ---------- ------ ---------
HOLDINGS OF GREAT AMERICAN INSURANCE COMPANY
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COVIDIEN LTD COM G2552X 10 8 2,185 49,375SH Defined 1 49,375
GLOBAL CROSSING LTD SHS NEW G3921A 17 5 99 6,521SH Defined " 6,521
TYCO INTL LTD BERMUDA SHS G9143X 20 8 2,175 49,375SH Defined " 49,375
TYCO ELECTRONICS LTD COM NEW G9144P 10 5 1,695 49,375SH Defined " 49,375
AMR CORP COM 001765 10 6 1,533 170,000SH Defined " 170,000
ALASKA AIR GROUP INC COM 011659 10 9 1,811 92,300SH Defined " 92,300
ALLIANCE RES PARTNER L P UT LTD PART 01877R 10 8 455 13,000SH Defined " 13,000
AMERICAN COMMERCIAL LINES COM NEW 025195 20 7 4,440 281,000SH Defined " 281,000
AMERICAN RAILCAR INDS INC COM 02916P 10 3 1,881 92,500SH Defined " 92,500
AMGEN INC COM 031162 10 0 1,462 35,000SH Defined " 35,000
ANWORTH MORTGAGE ASSET CP COM 037347 10 1 766 125,000SH Defined " 125,000
BANK OF AMERICA CORPORATION COM 060505 10 4 14,785 390,000SH Defined " 390,000
BLACK BOX CORP DEL COM 091826 10 7 3,435 111,350SH Defined " 111,350
BORDERS GROUP INC COM 099709 10 7 65 11,000SH Defined " 11,000
BOSTON SCIENTIFIC CORP COM 101137 10 7 3,620 281,250SH Defined " 281,250
BURLINGTON NORTHN SANTA FE C COM 12189T 10 4 13,234 143,500SH Defined " 143,500
CBS CORP NEW CL B 124857 20 2 949 43,000SH Defined " 43,000
CV THERAPEUTICS INC COM 126667 10 4 563 79,000SH Defined " 79,000
CABLEVISION SYS CORP CL A NY CABLVS 12686C 10 9 1,755 81,900SH Defined " 81,900
CALAMP CORP COM 128126 10 9 380 139,750SH Defined " 139,750
CITADEL BROADCASTING CORP COM 17285T 10 6 455 274,053SH Defined " 274,053
CINTAS CORP COM 172908 10 5 3,924 137,500SH Defined " 137,500
CITIGROUP INC COM 172967 10 1 536 25,000SH Defined " 25,000
CLEARWIRE CORP CL A 185385 30 9 592 40,000SH Defined " 40,000
COLONIAL BANCGROUP INC COM 195493 30 9 3,178 330,000SH Defined " 330,000
COMCAST CORP NEW CL A 20030N 10 1 7,349 380,000SH Defined " 380,000
COMPRASS DIVERSIFIED HOLDING SH BEN INT 20451Q 10 4 3,156 240,000SH Defined " 240,000
COMPUCREDIT CORP COM 20478N 10 0 196 22,136SH Defined " 22,136
DELTA AIR LINES INC DEL COM NEW 247361 70 2 2,487 289,149SH Defined " 289,149
DISNEY WALT CO COM DISNEY 254687 10 6 5,743 183,000SH Defined " 183,000
EMBARQ CORP COM 29078E 10 5 446 11,130SH Defined " 11,130
ENERGY EAST CORP COM 29266M 10 9 490 20,300SH Defined " 20,300
FEDERAL NATL MTG ASSN COM 313586 10 9 1,026 39,000SH Defined " 39,000
FIFTH THIRD BANCORP COM 316773 10 0 2,221 106,151SH Defined " 106,151
FIRST HORIZON NATL CORP COM 320517 10 5 3,783 270,000SH Defined " 270,000
FLAGSTAR BANCORP INC COM 337930 10 1 1,191 165,000SH Defined " 165,000
FLEETWOOD ENTERPRISES INC COM 339099 10 3 77 16,700SH Defined " 16,700
GLOBALSTAR INC COM 378973 40 8 43 4,134SH Defined " 4,134
HOME DEPOT INC COM 437076 10 2 4,517 161,500SH Defined " 161,500
INFINERA CORPORATION COM 45667G 10 3 1,730 144,159SH Defined " 144,159
INSTEEL INDUSTRIES INC COM 45774W 10 8 372 32,000SH Defined " 32,000
JOHNSON & JOHNSON COM 478160 10 4 11,839 182,500SH Defined " 182,500
K12 INC COM 48273U 10 2 3,994 203,275SH Defined " 203,275
KOHLS CORP COM 500255 10 4 8,471 197,500SH Defined " 197,500
LANDRYS RESTAURANTS INC COM 51508L 10 3 2,898 178,000SH Defined " 178,000
LOWES COS INC COM 548661 10 7 2,156 94,000SH Defined " 94,000
MACYS INC COM 55616P 10 4 4,519 195,949SH Defined " 195,949
NATIONAL CITY CORP COM 635405 10 3 24,929 2,505,392SH Defined " 2,505,392
NATIONAL INTERSTATE CORP COM 63654U 10 0 238,170 10,200,000SH Defined " 10,200,000
NEWS CORP CL A 65248E 10 4 2,344 125,000SH Defined " 125,000
NEWS CORP CL B 65248E 20 3 876 46,000SH Defined " 46,000
NEWSTAR FINANCIAL INC COM 65251F 10 5 120 23,200SH Defined " 23,200
NOVA BIOSOURCE FUELS INC COM 65488W 10 3 449 297,250SH Defined " 297,250
NORTHWEST AIRLS CORP COM 667280 40 8 629 70,000SH Defined " 70,000
O CHARLEYS INC COM 670823 10 3 973 84,500SH Defined " 84,500
PANERA BREAD CO CL A 69840W 10 8 6,765 161,500SH Defined " 161,500
PATTERSON UTI ENERGY INC COM 703481 10 1 1,047 40,000SH Defined " 40,000
PEPCO HOLDINGS INC COM 713291 10 2 1,001 40,500SH Defined " 40,500
PFIZER INC COM 717081 10 3 8,686 415,000SH Defined " 415,000
PRUDENTIAL FINL INC COM 744320 10 2 5,086 65,000SH Defined " 65,000
PULTE HOMES INC COM 745867 10 1 255 17,500SH Defined " 17,500
REDDY ICE HLDGS INC COM 75734R 10 5 670 51,400SH Defined " 51,400
SPDR TR UNIT SER 1 78462F 10 3 5,279 40,000SH Defined " 40,000
SARA LEE CORP COM 803111 10 3 699 50,000SH Defined " 50,000
SEACOR HOLDINGS INC COM 811904 10 1 296 3,463SH Defined " 3,463
SIRTRIS PHARMACEUTICALS INC COM 82968A 10 5 1,173 90,300SH Defined " 90,300
TIME WARNER INC COM 887317 10 5 367 26,149SH Defined " 26,149
TORTOISE ENERGY CAP CORP COM 89147U 10 0 652 25,800SH Defined " 25,800
TRINITY INDS INC COM 896522 10 9 6,529 245,000SH Defined " 245,000
UAL CORP COM NEW 902549 80 7 496 23,051SH Defined " 23,051
VIRGIN MEDIA INC COM 92769L 10 1 10,381 737,807SH Defined " 737,807
WACHOVIA CORP NEW COM 929903 10 2 14,499 537,000SH Defined " 537,000
WATTS WATER TECHNOLOGIES INC CL A 942749 10 2 841 30,000SH Defined " 30,000
ZENITH NATL INS CORP COM 989390 10 9 1,329 37,050SH Defined " 37,050
HOLDINGS OF GREAT AMERICAN
LIFE INSURANCE COMPANY
----------------------------
COVIDIEN LTD COM G2552X 10 8 3,457 78,125SH Defined 2 78,125
TYCO INTL LTD BERMUDA SHS G9143X 20 8 3,441 78,125SH Defined " 78,125
TYCO ELECTRONICS LTD COM NEW G9144P 10 5 2,681 78,125SH Defined " 78,125
ALASKA AIR GROUP INC COM 011659 10 9 2,580 131,500SH Defined " 131,500
ALLIANCE RES PARTNER L P UT LTD PART 01877R 10 8 1,789 51,124SH Defined " 51,124
AMERICAN COMMERCIAL LINES COM NEW 025195 20 7 4,756 301,000SH Defined " 301,000
AMERICAN RAILCAR INDS INC COM 02916P 10 3 856 42,081SH Defined " 42,081
AMGEN INC COM 031162 10 0 1,462 35,000SH Defined " 35,000
ANWORTH MORTGAGE ASSET CP COM 037347 10 1 766 125,000SH Defined " 125,000
BANK OF AMERICA CORPORATION COM 060505 10 4 3,791 100,000SH Defined " 100,000
BLACK BOX CORP DEL COM 091826 10 7 3,435 111,350SH Defined " 111,350
BORDERS GROUP INC COM 099709 10 7 65 11,000SH Defined " 11,000
BOSTON SCIENTIFIC CORP COM 101137 10 7 3,980 309,250SH Defined " 309,250
BURLINGTON NORTHN SANTA FE C COM 12189T 10 4 37 400SH Defined " 400
CBS CORP NEW CL B 124857 20 2 2,109 95,500SH Defined " 95,500
CV THERAPEUTICS INC COM 126667 10 4 692 97,000SH Defined " 97,000
CABLEVISION SYS CORP CL A NY CABLVS 12686C 10 9 2,694 125,700SH Defined " 125,700
CALAMP CORP COM 128126 10 9 383 140,750SH Defined " 140,750
CITADEL BROADCASTING CORP COM 17285T 10 6 454 273,323SH Defined " 273,323
CINTAS CORP COM 172908 10 5 3,924 137,500SH Defined " 137,500
CITIGROUP INC COM 172967 10 1 536 25,000SH Defined " 25,000
CLEARWIRE CORP CL A 185385 30 9 592 40,000SH Defined " 40,000
COLONIAL BANCGROUP INC COM 195493 30 9 1,156 120,000SH Defined " 120,000
COMCAST CORP NEW CL A 20030N 10 1 9,960 515,000SH Defined " 515,000
COMPRASS DIVERSIFIED HOLDING SH BEN INT 20451Q 10 4 3,181 241,900SH Defined " 241,900
COMPUCREDIT CORP COM 20478N 10 0 77 8,672SH Defined " 8,672
DELTA AIR LINES INC DEL COM NEW 247361 70 2 2,150 249,945SH Defined " 249,945
DISNEY WALT CO COM DISNEY 254687 10 6 5,743 183,000SH Defined " 183,000
FEDERAL HOME LN MTG CORP COM 313400 30 1 836 33,000SH Defined " 33,000
FEDERAL NATL MTG ASSN COM 313586 10 9 1,026 39,000SH Defined " 39,000
FIFTH THIRD BANCORP COM 316773 10 0 1,069 51,100SH Defined " 51,100
FIRST HORIZON NATL CORP COM 320517 10 5 630 45,000SH Defined " 45,000
FLAGSTAR BANCORP INC COM 337930 10 1 1,191 165,000SH Defined " 165,000
FLEETWOOD ENTERPRISES INC COM 339099 10 3 115 25,000SH Defined " 25,000
GLOBALSTAR INC COM 378973 40 8 128 12,402SH Defined " 12,402
HOME DEPOT INC COM 437076 10 2 4,797 171,500SH Defined " 171,500
INFINERA CORPORATION COM 45667G 10 3 2,585 215,388SH Defined " 215,388
INSTEEL INDUSTRIES INC COM 45774W 10 8 375 32,216SH Defined " 32,216
K12 INC COM 48273U 10 2 3,994 203,275SH Defined " 203,275
KOHLS CORP COM 500255 10 4 6,755 157,500SH Defined " 157,500
LANDRYS RESTAURANTS INC COM 51508L 10 3 2,903 178,300SH Defined " 178,300
LOWES COS INC COM 548661 10 7 3,781 164,804SH Defined " 164,804
MACYS INC COM 55616P 10 4 2,767 120,000SH Defined " 120,000
NRG ENERGY INC COM NEW 629377 50 8 2,080 53,350SH Defined " 53,350
NEWS CORP CL A 65248E 10 4 2,344 125,000SH Defined " 125,000
NEWS CORP CL B 65248E 20 3 1,219 64,000SH Defined " 64,000
NEWSTAR FINANCIAL INC COM 65251F 10 5 188 36,300SH Defined " 36,300
NOVA BIOSOURCE FUELS INC COM 65488W 10 3 450 297,750SH Defined " 297,750
NUVEEN FLTNG RTE INCM OPP FD COM SHS 6706EN 10 0 801 78,300SH Defined " 78,300
O CHARLEYS INC COM 670823 10 3 1,789 155,256SH Defined " 155,256
PANERA BREAD CO CL A 69840W 10 8 5,370 128,200SH Defined " 128,200
PATTERSON UTI ENERGY INC COM 703481 10 1 1,047 40,000SH Defined " 40,000
PFIZER INC COM 717081 10 3 5,965 285,000SH Defined " 285,000
PIMCO HIGH INCOME FD COM SHS 722014 10 7 1,439 122,800SH Defined " 122,800
PRUDENTIAL FINL INC COM 744320 10 2 7,043 90,000SH Defined " 90,000
PULTE HOMES INC COM 745867 10 1 546 37,500SH Defined " 37,500
REDDY ICE HLDGS INC COM 75734R 10 5 673 51,650SH Defined " 51,650
SEACOR HOLDINGS INC COM 811904 10 1 904 10,585SH Defined " 10,585
SIRTRIS PHARMACEUTICALS INC COM 82968A 10 5 1,181 90,900SH Defined " 90,900
TORTOISE ENERGY CAP CORP COM 89147U 10 0 2,171 85,900SH Defined " 85,900
TRINITY INDS INC COM 896522 10 9 6,529 245,000SH Defined " 245,000
UAL CORP COM NEW 902549 80 7 1,137 52,798SH Defined " 52,798
VIRGIN MEDIA INC COM 92769L 10 1 6,790 482,588SH Defined " 482,588
WACHOVIA CORP NEW COM 929903 10 2 4,266 158,000SH Defined " 158,000
WATTS WATER TECHNOLOGIES INC CL A 942749 10 2 5,149 183,700SH Defined " 183,700
HOLDINGS OF OTHER ENTITIES
EACH HAVING LESS THAN
$100 MILLION IN 13F SECURITIES
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ACE LTD ORD G0070K 10 3 3,469 63,000SH Sole 63,000
GLOBAL CROSSING LTD SHS NEW G3921A 17 5 216 14,224SH Defined 2 14,224
AMR CORP COM 001765 10 6 2,120 235,000SH Defined " 235,000
ALASKA AIR GROUP INC COM 011659 10 9 659 33,600SH Defined 1 33,600
AMERICAN COMMERCIAL LINES COM NEW 025195 20 7 632 40,000SH Defined 2 40,000
AMERICAN RAILCAR INDS INC COM 02916P 10 3 1,017 50,000SH Defined " 50,000
BANK OF AMERICA CORPORATION COM 060505 10 4 3,412 90,000SH Defined 90,000
BERKLEY W R CORP COM 084423 10 2 3,240 117,000SH Sole 117,000
BOSTON SCIENTIFIC CORP COM 101137 10 7 322 25,000SH Defined 25,000
BRISTOL MYERS SQUIBB CO COM 110122 10 8 213 10,000SH Defined 1 10,000
CHUBB CORP COM 171232 10 1 3,513 71,000SH Sole 71,000
CITIGROUP INC COM 172967 10 1 793 37,000SH Defined 1 37,000
COLONIAL BANCGROUP INC COM 195493 30 9 1,445 150,000SH Defined 150,000
COMCAST CORP NEW CL A 20030N 10 1 14,409 745,000SH Defined 2 745,000
COMPUCREDIT CORP COM 20478N 10 0 133 15,000SH Defined " 15,000
DELTA AIR LINES INC DEL COM NEW 247361 70 2 862 100,233SH Defined 1,2 100,233
EATON VANCE TAX MNG GBL DV E COM 27829F 10 8 471 30,000SH Defined 1 30,000
EMBARQ CORP COM 29078E 10 5 30 750SH Defined 750
ENERGY EAST CORP COM 29266M 10 9 482 20,000SH Defined 20,000
FEDERAL HOME LN MTG CORP COM 313400 30 1 836 33,000SH Defined 33,000
FIRST HORIZON NATL CORP COM 320517 10 5 911 65,000SH Defined 65,000
ING GLOBAL EQTY DIV & PREM O COM 45684E 10 7 166 10,000SH Defined 1 10,000
ISHARES TR MSCI EAFE IDX 464287 46 5 3,092 43,000SH Defined " 43,000
ISHARES TR DJ US TELECOMM 464287 71 3 223 9,550SH Defined " 9,550
ISHARES TR DJ US TECH SEC 464287 72 1 1,076 20,500SH Defined " 20,500
JOHNSON & JOHNSON COM 478160 10 4 1,135 17,500SH Defined 17,500
LOWES COS INC COM 548661 10 7 1,262 55,000SH Defined 55,000
MANAGED HIGH YIELD PLUS FD I COM 561911 10 8 33 10,000SH Defined 1 10,000
METROPCS COMMUNICATIONS INC COM 591708 10 2 1,700 100,000SH Defined 100,000
NRG ENERGY INC COM NEW 629377 50 8 1,391 35,678SH Defined 2 35,678
NATIONAL CITY CORP COM 635405 10 3 760 76,359SH Defined 76,359
NORTHWEST AIRLS CORP COM 667280 40 8 450 50,000SH Defined 50,000
O CHARLEYS INC COM 670823 10 3 803 69,698SH Defined 69,698
PEPCO HOLDINGS INC COM 713291 10 2 247 10,000SH Defined 1 10,000
PFIZER INC COM 717081 10 3 1,151 55,000SH Defined 55,000
PHILADELPHIA CONS HLDG CORP COM 717528 10 3 3,027 94,000SH Sole 94,000
POWERSHARES ETF TRUST DYNAMIC MKT PT 73935X 10 4 1,124 24,400SH Defined 1 24,400
POWERSHARES ETF TRUST HI YLD EQ DVDN 73935X 30 2 254 21,300SH Defined " 21,300
PRUDENTIAL FINL INC COM 744320 10 2 6,652 85,000SH Defined 2 85,000
PULTE HOMES INC COM 745867 10 1 291 20,000SH Defined 20,000
REDDY ICE HLDGS INC COM 75734R 10 5 1,052 80,781SH Defined 2 80,781
RELIANT ENERGY INC COM 75952B 10 5 273 11,547SH Sole 11,547
ROYAL BK SCOTLAND GROUP PLC ADR PREF SHS R 780097 74 7 213 10,000SH Defined 1 10,000
SPDR TR UNIT SER 1 78462F 10 3 6,467 49,000SH Defined " 49,000
SEACOR HOLDINGS INC COM 811904 10 1 451 5,280SH Sole 5,280
SEACOR HOLDINGS INC COM 811904 10 1 477 5,591SH Defined 5,591
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y 10 0 227 5,660SH Defined 1 5,660
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y 20 9 1,251 40,150SH Defined " 40,150
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y 30 8 977 35,060SH Defined " 35,060
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y 40 7 1,570 51,120SH Defined " 51,120
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y 60 5 1,492 60,000SH Defined " 60,000
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y 88 6 285 7,500SH Defined " 7,500
UAL CORP COM NEW 902549 80 7 868 40,318SH Defined 2 40,318
VIRGIN MEDIA INC COM 92769L 10 1 9,567 680,000SH Defined " 680,000
WACHOVIA CORP NEW COM 929903 10 2 4,725 175,000SH Defined 175,000
WATTS WATER TECHNOLOGIES INC CL A 942749 10 2 7,375 263,100SH Defined 2 263,100
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REPORT TOTAL $729,290
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