AmTrust Financial Services
Amtrust Financial Services, Inc. (Form: 13F-HR, Received: 02/10/2017 17:04:38)

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 OMB APPROVAL
  Washington, D.C. 20549
FORM 13F
OMB Number:   3235-0006
Expires:          July 31, 2015
Estimated average burden
hours per response:       23.8


FORM 13F COVER PAGE


Report for the Calendar Year or Quarter Ended:
12-31-2016
 
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 York,  NEW YORK 02-10-2017 
[Signature] [City, State] [Date]

Do you wish to provide information pursuant to Special Instruction 5?          Yes      X  No

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:
Form 13F Information table Entry Total: 120 
Form 13F Information table Value Total: 473,773 
  (thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F number(s) of all institutional investement managers with respect to which this report is filed, other than the manager filing this report.

   No. Form 13F File Number Name CIK
  AII Insurance Management Ltd. (Bermuda)  0001696876 

FORM 13F INFORMATION TABLE

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
NAME OF ISSUER TITLE OF CLASS CUSIP VALUE
(x$1000)
SHRS OR
PRN AMT
SH /
PRN
PUT /
CALL
INVESTMENT
DISCRETION
OTHER
MANAGER
VOTING AUTHORITY
SOLE SHARED NONE
ACTIVISION BLIZZARD INC COM 00507V109 1,051 29,100 SH - DFND 1 29,100 0 0
ADVANCE AUTO PARTS INC COM 00751Y106 3,805 22,500 SH - SOLE - 22,500 0 0
ALTISOURCE ASSET MGMT CORP COM 02153X108 455 8,500 SH - DFND 1 8,500 0 0
AMERICAN ELEC PWR INC COM 025537101 1,091 17,321 SH - DFND 1 17,321 0 0
APACHE CORP COM 037411105 112 1,764 SH - DFND 1 1,764 0 0
APACHE CORP COM 037411105 112 1,765 SH - SOLE - 1,765 0 0
AT&T INC COM 00206R102 1,236 29,068 SH - DFND 1 29,068 0 0
AXALTA COATING SYS LTD COM G0750C108 979 36,000 SH - DFND 1 36,000 0 0
AXAR ACQUISITION CORP *W EXP 12/31/202 05455L110 6 75,000 SH - SOLE - 75,000 0 0
BANK AMER CORP COM 060505104 707 32,000 SH - DFND 1 32,000 0 0
BASIC ENERGY SVCS INC NEW COM NEW 06985P209 1,735 49,073 SH - DFND 1 49,073 0 0
BASIC ENERGY SVCS INC NEW COM NEW 06985P209 1,735 49,072 SH - SOLE - 49,072 0 0
BOJANGLES INC COM 097488100 1,272 68,207 SH - SOLE - 68,207 0 0
BOOT BARN HLDGS INC COM 099406100 563 45,000 SH - SOLE - 45,000 0 0
BRISTOL MYERS SQIBB CO COM 110122108 468 8,000 SH - DFND 1 8,000 0 0
CATERPILLAR INC DEL COM 149123101 1,179 12,713 SH - DFND 1 12,713 0 0
CHESAPEAKE ENRGY CORP COM 165167107 88 12,500 SH - DFND 1 12,500 0 0
CHESAPEAKE ENRGY CORP COM 165167107 88 12,500 SH - SOLE - 12,500 0 0
CHUBB LIMITED COM H1467J104 1,004 7,600 SH - DFND 1 7,600 0 0
CHUBB LIMITED COM H1467J104 4,624 35,000 SH - SOLE - 35,000 0 0
COACH INC COM 189754104 1,156 33,000 SH - SOLE - 33,000 0 0
COCA COLA CO COM 191216100 998 24,067 SH - DFND 1 24,067 0 0
COEUR MNG INC COM 192108504 954 105,000 SH - DFND 1 105,000 0 0
COEUR MNG INC COM 192108504 954 105,000 SH - SOLE - 105,000 0 0
CONOCOPHILLIPS COM 20825C104 728 14,524 SH - DFND 1 14,524 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 1,009 11,630 SH - DFND 1 11,630 0 0
DEERE & CO COM 244199105 1,123 10,902 SH - DFND 1 10,902 0 0
DOW CHEM CO COM 260543103 1,156 20,204 SH - DFND 1 20,204 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 1,021 13,158 SH - DFND 1 13,158 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 1,361 18,537 SH - DFND 1 18,537 0 0
EARTHSTONE ENERGY INC COM NEW 27032D205 710 51,669 SH - DFND 1 51,669 0 0
EARTHSTONE ENERGY INC COM NEW 27032D205 710 51,671 SH - SOLE - 51,671 0 0
LILLY ELI & CO COM 532457108 1,038 14,107 SH - DFND 1 14,107 0 0
EMERSON ELEC CO COM 291011104 950 17,034 SH - DFND 1 17,034 0 0
ENTEGRIS INC COM 29362U104 1,121 62,600 SH - SOLE - 62,600 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 338 12,500 SH - DFND 1 12,500 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 338 12,500 SH - SOLE - 12,500 0 0
EXTRACTION OIL AND GAS INC COM 30227M105 952 47,500 SH - DFND 1 47,500 0 0
EXTRACTION OIL AND GAS INC COM 30227M105 952 47,500 SH - SOLE - 47,500 0 0
EXXON MOBIL CORP COM 30231G102 985 10,909 SH - DFND 1 10,909 0 0
FACEBOOK CL A 30303M102 1,420 12,345 SH - DFND 1 12,345 0 0
FERRO CORP COM 315405100 358 25,000 SH - SOLE - 25,000 0 0
GASTAR EXPL INC NEW COM 36729W202 16 10,000 SH - DFND 1 10,000 0 0
GASTAR EXPL INC NEW COM 36729W202 16 10,000 SH - SOLE - 10,000 0 0
GENERAL ELECTRIC CO COM 369604103 1,253 39,646 SH - DFND 1 39,646 0 0
GENERAL MLS INC COM 370334104 1,173 18,985 SH - DFND 1 18,985 0 0
GENERAL MTRS CO COM 37045V100 436 12,500 SH - DFND 1 12,500 0 0
GENTEX CORP COM 371901109 492 25,000 SH - SOLE - 25,000 0 0
HCP INC COM 40414L109 695 23,370 SH - DFND 1 23,370 0 0
HEADWATERS INC COM 42210P102 706 30,000 SH - DFND 1 30,000 0 0
HOSTESS BRANDS INC CL A 44109J106 4,550 350,000 SH - SOLE - 350,000 0 0
ICHOR HOLDINGS SHS G4740B105 253 23,368 SH - SOLE - 23,368 0 0
INDEPENDENCE CONTRACT DRIL I COM 453415309 1,249 186,483 SH - DFND 1 186,483 0 0
INDEPENDENCE CONTRACT DRIL I COM 453415309 1,249 186,483 SH - SOLE - 186,483 0 0
INTERNATIONAL SEAWAYS INC COM Y41053102 4,257 303,200 SH - DFND 1 303,200 0 0
INTEVAC INC COM 461148108 1,817 212,544 SH - SOLE - 212,544 0 0
JOHNSON & JOHNSON COM 478160104 1,151 9,989 SH - DFND 1 9,989 0 0
KANSAS CITY SOUTHERN COM NEW 485170302 424 5,000 SH - DFND 1 5,000 0 0
KIMBERLY CLARK CORP COM 494368103 1,027 8,997 SH - DFND 1 8,997 0 0
KINDER MORGAN INC DEL COM 49456B101 777 37,500 SH - DFND 1 37,500 0 0
KINDER MORGAN INC DEL COM 49456B101 777 37,500 SH - SOLE - 37,500 0 0
KRAFT HEINZ CO COM 500754106 1,351 15,471 SH - DFND 1 15,471 0 0
LAM RESEARCH CORP COM 512807108 2,115 20,000 SH - SOLE - 20,000 0 0
LAREDO PETROLEUM INC COM 516806106 1,823 128,905 SH - DFND 1 128,905 0 0
LAREDO PETROLEUM INC COM 516806106 1,823 128,905 SH - SOLE - 128,905 0 0
LOCKHEED MARTIN CORP COM 539830109 1,265 5,061 SH - DFND 1 5,061 0 0
LONESTAR RES US INC CL A VTG 54240F103 1,388 162,500 SH - DFND 1 162,500 0 0
LONESTAR RES US INC CL A VTG 54240F103 1,388 162,500 SH - SOLE - 162,500 0 0
MCDONALDS CORP COM 580135101 1,291 10,603 SH - DFND 1 10,603 0 0
MERCK & CO INC COM 58933Y105 1,006 17,096 SH - DFND 1 17,096 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 633 25,000 SH - DFND 1 25,000 0 0
MICRON TECHNOLOGY INC COM 595112103 964 44,000 SH - DFND 1 44,000 0 0
MICRON TECHNOLOGY INC COM 595112103 1,644 75,000 SH - SOLE - 75,000 0 0
MICROSOFT CORP COM 594918104 2,672 42,999 SH - DFND 1 42,999 0 0
MOBILEIRON INC COM NEW 60739U204 312 83,155 SH - SOLE - 83,155 0 0
MONARCH CASINO & RESORT INC COM 609027107 523 20,300 SH - SOLE - 20,300 0 0
NATIONAL GEN HLDGS CORP COM 636220303 307,263 12,295,430 SH - DFND 1 12,295,430 0 0
NEWMONT MINING CORP COM 651639106 1,465 43,001 SH - DFND 1 43,001 0 0
NEWMONT MINING CORP COM 651639106 1,465 42,999 SH - SOLE - 42,999 0 0
NORFOLK SOUTHERN CORP COM 655844108 1,316 12,177 SH - DFND 1 12,177 0 0
NUCOR CORP COM 670346105 1,282 21,535 SH - DFND 1 21,535 0 0
OMNICOM GROUP INC COM 681919106 1,097 12,885 SH - DFND 1 12,885 0 0
OVERSEAS SHIPHOLDING GROUP I CL A NEW 69036R863 948 247,412 SH - DFND 1 247,412 0 0
PAYCHEX INC COM 704326107 1,260 20,691 SH - DFND 1 20,691 0 0
PEPSICO INC COM 713448108 2,228 21,290 SH - DFND 1 21,290 0 0
PFIZER INC COM 717081103 945 29,084 SH - DFND 1 29,084 0 0
PROCTER AND GAMBLE CO COM 742718109 982 11,676 SH - DFND 1 11,676 0 0
PVH CORP COM 693656100 271 3,000 SH - SOLE - 3,000 0 0
RED LION HOTELS CORP COM 756764106 167 20,000 SH - SOLE - 20,000 0 0
REGAL ENTMT GROUP CL A 758766109 2,318 112,500 SH - SOLE - 112,500 0 0
S&P GLOBAL INC COM 78409V104 570 5,300 SH - DFND 1 5,300 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 698 30,000 SH - SOLE - 30,000 0 0
SHERWIN WILLIAMS CO COM 824348106 1,295 4,820 SH - DFND 1 4,820 0 0
SILVER WHEATON CORP COM 828336107 1,140 58,999 SH - DFND 1 58,999 0 0
SILVER WHEATON CORP COM 828336107 1,140 59,001 SH - SOLE - 59,001 0 0
SM ENERGY CO COM 78454L100 1,190 34,500 SH - DFND 1 34,500 0 0
SM ENERGY CO COM 78454L100 1,190 34,500 SH - SOLE - 34,500 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 9,183 41,080 SH - DFND 1 41,080 0 0
STATE NATL COS INC COM 85711T305 21,457 1,548,099 SH - DFND 1 1,548,099 0 0
STATE NATL COS INC COM 85711T305 6,586 475,180 SH - SOLE - 475,180 0 0
SUNOCO LOGISTICS PRTNRS L P COM UNITS 86764L108 1,261 52,500 SH - DFND 1 52,500 0 0
SUNOCO LOGISTICS PRTNRS L P COM UNITS 86764L108 1,261 52,500 SH - SOLE - 52,500 0 0
SUPERIOR ENGERY SVCS INC COM 868157108 1,488 88,150 SH - DFND 1 88,150 0 0
SUPERIOR ENGERY SVCS INC COM 868157108 1,488 88,150 SH - SOLE - 88,150 0 0
SYSCO CORP COM 871829107 1,393 25,165 SH - DFND 1 25,165 0 0
WENDYS CO COM 95058W100 1,352 100,000 SH - DFND 1 100,000 0 0
WENDYS CO COM 95058W100 338 25,000 SH - SOLE - 25,000 0 0
THRESHOLD PHARMACEUTICAL INC COM NEW 885807206 44 100,000 SH - DFND 1 100,000 0 0
TRACTOR SUPPLY CO COM 892356106 1,137 15,000 SH - SOLE - 15,000 0 0
UNITED PARCEL SERVICE INC CL B 911312106 1,118 9,751 SH - DFND 1 9,751 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 1,095 20,515 SH - DFND 1 20,515 0 0
VERSUM MATLS INC COM 92532W103 477 17,000 SH - DFND 1 17,000 0 0
VERSUM MATLS INC COM 92532W103 3,509 125,000 SH - SOLE - 125,000 0 0
WAL-MART STORES INC COM 931142103 952 13,774 SH - DFND 1 13,774 0 0
DISNEY WALT CO COM DISNEY 254687106 521 5,000 SH - DFND 1 5,000 0 0
WASTE MGMT INC DEL COM 94106L109 1,359 19,164 SH - DFND 1 19,164 0 0
WHITEWAVE FOODS CO COM 966244105 1,323 23,800 SH - SOLE - 23,800 0 0
WHITING PETE CORP NEW COM 966387102 451 37,500 SH - DFND 1 37,500 0 0
WHITING PETE CORP NEW COM 966387102 451 37,500 SH - SOLE - 37,500 0 0
WPX ENERGY INC COM 98212B103 152 10,430 SH - DFND 1 10,430 0 0