Instuitional Investor - Amtrust Financial Services, Inc.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Vanguard Index Fds - S&P 500 ETF SHS		196,400	$120,271,432	40%
2.	Ishares Trust	IEF	150,300	$100,595,790	33.45%
3.	Ishares Tr		367,800	$19,504,434	6.49%
4.	Vanguard Index Fds - LARGE CAP ETF		45,800	$14,099,988	4.69%
5.	Ishares Trust	IEF	98,560	$9,880,640	3.29%