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: July 31, 2015
Estimated average burden
hours per response: 23.8

Report for the Calendar Year or Quarter Ended: 12-31-2018
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: Amtrust Financial Services, Inc.
Address: 59 Maiden Lane
43rd Floor
New York, NY  10038
Form 13F File Number: 028-17705

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: Stephen Ungar
Title: Senior Vice President
Phone: 212-220-7120
Signature, Place, and Date of Signing:
/s/Stephen Ungar New YorkNY 02-13-2019
[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: 33
Form 13F Information Table Value Total: 74,223
(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
1 028-17706 AII Insurance Management Ltd. (Bermuda)
2 028-18512 AmTrust International Bermuda, Ltd.

SEC FORM 13-F Information Table

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 INFORMATION TABLE

OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
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
AMAZON COM INC COM 023135106 750 500 SH   DFND 2 500 0 0
BJS WHSL CLUB HLDGS INC COM 05550J101 1,331 60,000 SH   DFND 2 60,000 0 0
CHAPARRAL ENERGY INC COM CL A 15942R208 1,027 208,476 SH   SOLE   208,476 0 0
CHEGG INC COM 163092109 1,562 55,000 SH   DFND 2 55,000 0 0
CISCO SYS INC COM 17275R102 1,084 25,000 SH   DFND 2 25,000 0 0
CLIPPER RLTY INC COM 18885T306 3,031 231,949 SH   SOLE   231,949 0 0
DENNYS CORP COM 24869P104 972 60,010 SH   DFND 2 60,010 0 0
FOOT LOCKER INC COM 344849104 2,660 50,000 SH   DFND 2 50,000 0 0
FORUM MERGER II CORP UNIT 09/30/2025 34986F202 506 50,000 SH   DFND 2 50,000 0 0
GENERAL ELECTRIC CO COM 369604103 1,136 150,000 SH   SOLE   150,000 0 0
GORES HOLDINGS III INC UNIT 09/07/2024 38286G208 1,005 100,000 SH   DFND 2 100,000 0 0
GRAND CANYON ED INC COM 38526M106 962 10,000 SH   DFND 2 10,000 0 0
INTERXION HOLDING N.V SHS N47279109 810 15,000 SH   DFND 2 15,000 0 0
KINDRED BIOSCIENCES INC COM 494577109 367 33,531 SH   DFND 2 33,531 0 0
KOHLS CORP COM 500255104 498 7,500 SH   DFND 2 7,500 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 1,532 58,000 SH   SOLE   58,000 0 0
MICROSOFT CORP COM 594918104 2,540 25,000 SH   DFND 2 25,000 0 0
MOSAIC ACQUISITION CORP UNIT 99/99/9999 61946M209 1,518 150,000 SH   DFND 2 150,000 0 0
NANOVIBRONIX INC COM 63008J108 529 146,148 SH   DFND 1 146,148 0 0
NATIONAL GEN HLDGS CORP COM 636220303 41,385 1,709,430 SH   SOLE   1,709,430 0 0
NATIONAL VISION HLDGS INC COM 63845R107 789 28,000 SH   DFND 2 28,000 0 0
NEBULA ACQUISITION CORP UNIT 03/12/2025 629076209 1,503 150,000 SH   DFND 2 150,000 0 0
NEOGENOMICS INC COM NEW 64049M209 189 15,000 SH   DFND 2 15,000 0 0
NEW YORK TIMES CO CL A 650111107 1,338 60,000 SH   DFND 2 60,000 0 0
NOODLES & CO COM CL A 65540B105 449 64,322 SH   DFND 2 64,322 0 0
PALO ALTO NETWORKS INC COM 697435105 1,600 8,500 SH   DFND 2 8,500 0 0
PENNEY J C INC COM 708160106 10 10,000 SH   DFND 2 10,000 0 0
PGT INNOVATIONS INC COM 69336V101 159 10,000 SH   DFND 2 10,000 0 0
PLATINUM EAGLE ACQUISITIN CO UNIT 01/09/2023 G7126L126 524 50,000 SH   DFND 2 50,000 0 0
RENT A CTR INC NEW COM 76009N100 162 10,000 SH   DFND 2 10,000 0 0
TILE SHOP HLDGS INC COM 88677Q109 55 10,000 SH   DFND 2 10,000 0 0
VIEWRAY INC COM 92672L107 377 61,984 SH   DFND 2 61,984 0 0
WALMART INC COM 931142103 1,863 20,000 SH   DFND 2 20,000 0 0