AmTrust Financial Services
Amtrust Financial Services, Inc. (Form: 13F-HR, Received: 05/15/2017 14:43:30)

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:
03-31-2017
 
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 05-15-2017 
[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: 95 
Form 13F Information table Value Total: 496,055 
  (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
028-17706  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
ALTISOURCE ASSET MGMT CORP COM 02153X108 640 8,500 SH - DFND 1 8,500 0 0
AMC ENTMT HLDGS INC CL A COM 00165C104 786 25,000 SH - SOLE - 25,000 0 0
AMERICAN ELEC PWR INC COM 025537101 1,163 17,321 SH - SOLE - 17,321 0 0
AT&T INC COM 00206R102 1,208 29,068 SH - SOLE - 29,068 0 0
AXALTA COATING SYS LTD COM G0750C108 5,529 171,700 SH - SOLE - 135,700 0 0
AXAR ACQUISITION CORP *W EXP 12/31/202 05455L110 5 75,000 SH - SOLE - 75,000 0 0
BANK AMER CORP COM 060505104 755 32,000 SH - SOLE - 32,000 0 0
BOJANGLES INC COM 097488100 1,398 68,207 SH - SOLE - 68,207 0 0
C&J ENERGY SVCS INC NEW COM 12674R100 9,263 272,037 SH - SOLE - 272,037 0 0
CATERPILLAR INC DEL COM 149123101 1,179 12,713 SH - SOLE - 12,713 0 0
CHESAPEAKE ENERGY CORP COM 165167107 1,188 200,000 SH - SOLE - 200,000 0 0
CHUBB LIMITED COM H1467J104 1,036 7,600 SH - SOLE - 7,600 0 0
CLIPPER RLTY INC COM 18885T306 9,496 740,740 SH - SOLE - 740,740 0 0
COCA COLA CO COM 191216100 1,021 24,067 SH - SOLE - 24,067 0 0
COEUR MNG INC COM NEW 192108504 3,798 470,000 SH - SOLE - 470,000 0 0
CONOCOPHILLIPS COM 20825C104 724 14,524 SH - SOLE - 14,524 0 0
CONTINENTAL RESOURCES INC COM 212015101 454 10,000 SH - SOLE - 10,000 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 1,098 11,630 SH - SOLE - 11,630 0 0
DEERE & CO COM 244199105 1,187 10,902 SH - SOLE - 10,902 0 0
DOLLAR TREE INC COM 256746108 1,569 20,000 SH - SOLE - 20,000 0 0
DOW CHEM CO COM 260543103 1,284 20,204 SH - SOLE - 20,204 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 1,079 13,158 SH - SOLE - 13,158 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 1,489 18,537 SH - SOLE - 18,537 0 0
LILLY ELI & CO COM 532457108 1,187 14,107 SH - SOLE - 14,107 0 0
EMERSON ELEC CO COM 291011104 1,020 17,034 SH - SOLE - 17,034 0 0
ENTEGRIS INC COM 29362U104 1,170 50,000 SH - SOLE - 50,000 0 0
EXXON MOBIL CORP COM 30231G102 895 10,909 SH - SOLE - 10,909 0 0
FACEBOOK INC CL A 30303M102 1,754 12,345 SH - SOLE - 12,345 0 0
GASTAR EXPL INC NEW COM 36729W202 31 20,000 SH - SOLE - 20,000 0 0
GENERAL ELECTRIC CO COM 369604103 1,181 39,646 SH - SOLE - 39,646 0 0
GENERAL MLS INC COM 370334104 1,120 18,985 SH - SOLE - 18,985 0 0
GENERAL MTRS CO COM 37045V100 442 12,500 SH - DFND 1 12,500 0 0
GORES HLDGS II INC UNIT 99/99/9999 382867208 864 84,000 SH - SOLE - 84,000 0 0
HELMERICH & PAYNE INC COM 423452101 2,663 40,000 SH - SOLE - 40,000 0 0
HOSTESS BRANDS INC CL A 44109J106 2,381 150,000 SH - SOLE - 150,000 0 0
INDEPENDENCE CONTRACT DRIL I COM 453415309 3,175 576,246 SH - SOLE - 576,246 0 0
INTERXION HOLDING N.V SHS N47279109 4,656 117,700 SH - SOLE - 92,200 0 0
INTEVAC INC COM 461148108 1,475 118,000 SH - SOLE - 118,000 0 0
ISHARES TR MBS ETF 464288588 12,355 115,952 SH - SOLE - 115,952 0 0
ISHARES TR 1-3 YR CR BD ETF 464288646 119 1,135 SH - SOLE - 1,135 0 0
JOHNSON & JOHNSON COM 478160104 1,244 9,989 SH - SOLE - 9,989 0 0
KIMBERLY CLARK CORP COM 494368103 1,184 8,997 SH - SOLE - 8,997 0 0
KINDRED BIOSCIENCES INC COM 494577109 1,763 250,000 SH - SOLE - 250,000 0 0
KRAFT HEINZ CO COM 500754106 1,405 15,471 SH - SOLE - 15,471 0 0
LAMB WESTON HLDGS INC COM 513272104 2,947 70,060 SH - SOLE - 55,060 0 0
LOCKHEED MARTIN CORP COM 539830109 1,354 5,061 SH - SOLE - 5,061 0 0
LONESTAR RES US INC CL A VTG 54240F103 1,084 214,214 SH - SOLE - 214,214 0 0
LOWES COS INC COM 548661107 2,466 30,000 SH - SOLE - 30,000 0 0
MCDONALDS CORP COM 580135101 1,374 10,603 SH - SOLE - 10,603 0 0
MERCK & CO INC COM 58933Y105 1,086 17,096 SH - SOLE - 17,096 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 676 25,000 SH - SOLE - 25,000 0 0
MICRON TECHNOLOGY INC COM 595112103 1,214 42,000 SH - SOLE - 20,000 0 0
MICROSOFT CORP COM 594918104 1,317 20,000 SH - SOLE - 20,000 0 0
MOBILEIRON INC COM NEW 60739U204 204 47,000 SH - SOLE - 47,000 0 0
MOHAWK INDS INC COM 608190104 4,670 20,350 SH - SOLE - 16,000 0 0
MONARCH CASINO & RESORT INC COM 609027107 600 20,300 SH - SOLE - 20,300 0 0
NATIONAL GEN HLDGS CORP COM 636220303 146,217 6,153,928 SH - DFND 1 6,153,928 0 0
NATIONAL GEN HLDGS CORP COM 636220303 145,922 6,141,502 SH - SOLE - 6,141,502 0 0
NCI BUILDING SYS INC COM NEW 628852204 721 42,040 SH - SOLE - 42,040 0 0
NEWMONT MINING CORP COM 651639106 6,460 196,000 SH - SOLE - 196,000 0 0
NOODLES & CO CL A 65540B105 230 40,000 SH - SOLE - 40,000 0 0
NORFOLK SOUTHERN CORP COM 655844108 1,363 12,177 SH - SOLE - 12,177 0 0
NUCOR CORP COM 670346105 1,286 21,535 SH - SOLE - 21,535 0 0
OMNICOM GROUP INC COM 681919106 1,111 12,885 SH - SOLE - 12,885 0 0
PATTERSON UTI ENERGY INC COM 703481101 6,189 255,000 SH - SOLE - 255,000 0 0
PAYCHEX INC COM 704326107 1,219 20,691 SH - SOLE - 20,691 0 0
PEPSICO INC COM 713448108 2,381 21,290 SH - SOLE - 21,290 0 0
PFIZER INC COM 717081103 995 29,084 SH - SOLE - 29,084 0 0
PROCTER AND GAMBLE CO COM 742718109 1,049 11,676 SH - SOLE - 11,676 0 0
REGAL ENTMT GROUP CL A 758766109 2,540 112,500 SH - SOLE - 112,500 0 0
S&P GLOBAL INC COM 78409V104 693 5,300 SH - SOLE - 5,300 0 0
SHERWIN WILLIAMS CO COM 824348106 3,666 11,820 SH - SOLE - 7,000 0 0
SILVER WHEATON CORP COM 828336107 5,602 268,800 SH - SOLE - 268,800 0 0
SM ENERGY CO COM 78454L100 456 19,000 SH - SOLE - 19,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 8,689 36,860 SH - SOLE - 36,860 0 0
STANLEY BLACK & DECKER INC COM 854502101 3,322 25,000 SH - SOLE - 25,000 0 0
STATE NATL COS INC COM 85711T305 14,664 1,018,356 SH - DFND 1 1,018,356 0 0
STATE NATL COS INC COM 85711T305 6,843 475,180 SH - SOLE - 475,180 0 0
SUNOCO LOGISTICS PRTNRS L P COM UNITS 86764L108 3,094 126,700 SH - SOLE - 126,700 0 0
SUPERIOR ENERGY SVCS INC COM 868157108 3,536 247,987 SH - SOLE - 247,987 0 0
SYSCO CORP COM 871829107 1,307 25,165 SH - SOLE - 25,165 0 0
WENDYS CO COM 95058W100 817 60,000 SH - SOLE - 60,000 0 0
THRESHOLD PHARMACEUTICAL INC COM NEW 885807206 57 100,000 SH - DFND 1 100,000 0 0
UNITED PARCEL SERVICE INC CL B 911312106 1,046 9,751 SH - SOLE - 9,751 0 0
U S SILICA HLDGS INC COM 90346E103 2,486 51,800 SH - SOLE - 51,800 0 0
VALSPAR CORP COM 920355104 1,109 10,000 SH - SOLE - 10,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 1,000 20,515 SH - SOLE - 20,515 0 0
VERSUM MATLS INC COM 92532W103 3,978 129,994 SH - SOLE - 95,994 0 0
WAL-MART STORES INC COM 931142103 993 13,774 SH - SOLE - 13,774 0 0
DISNEY WALT CO COM DISNEY 254687106 567 5,000 SH - SOLE - 5,000 0 0
WASTE MGMT INC DEL COM 94106L109 1,397 19,164 SH - SOLE - 19,164 0 0
WELLTOWER INC 6.50% PFD PREPET 95040Q203 309 4,360 SH - DFND 1 4,360 0 0
WHITEWAVE FOODS CO COM 966244105 1,336 23,800 SH - SOLE - 23,800 0 0
WHITING PETE CORP NEW COM 966387102 2,838 300,000 SH - SOLE - 300,000 0 0
WPX ENERGY INC COM 98212B103 140 10,430 SH - DFND 1 10,430 0 0