| Report for the Calendar Year or Quarter Ended: | 06-30-2025 |
| 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 |
| CRD Number (if applicable): | | |
| SEC File Number (if applicable): | | |
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: | Todd Jaeger |
| Title: | Chief Investment Officer |
| Phone: | 212-220-7120 |
Signature, Place, and Date of Signing:
| /s/ Todd Jaeger | New York,
NEW YORK
| 08-11-2025 |
| [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).)