UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  20549

                                    FORM 13F

                              FORM 13F COVER PAGE


                  Report for the Quarter Ended June 30, 2004



                          AMERICAN FINANCIAL GROUP, INC.
                 One East Fourth Street, Cincinnati, Ohio 45202
     -------------------------------------------------------------------------
     (Name and Address of Institutional Investment Manager Filing this Report)


                         Form 13F File Number:  28-4389


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.

                                 Fred J. Runk
                     Senior Vice President and Treasurer
                                (513) 579-2489
                -----------------------------------------------
                (Name, Title and Phone Number of Person Signing
                 this Report on Behalf of Reporting Manager)



Signature:

s/Fred J. Runk                       Cincinnati, Ohio            August 6, 2004
- ----------------------------------
Fred J. Runk
Senior Vice President and Treasurer


Report Type:
     [X]  13F HOLDINGS REPORT.
     [ ]  13F NOTICE.
     [ ]  13F COMBINATION REPORT.








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FORM 13F SUMMARY PAGE --------------------- Number of Other Included Managers: 1 ----------- Form 13F Information Table Entry Total: 86 ----------- Form 13F Information Table Value Total (thousands): $ 1,045,522 ----------- Name and 13F file numbers of all Institutional Investment Managers with respect to which this schedule is filed (other than American Financial Group, Inc.): Number 13F File Number Name of Subsidiary ------ --------------- ------------------------------------ 1. 28-498 Great American Insurance Company Page 2

FORM 13F INFORMATION TABLE Column 4: Column 5: Column 8: Column 2: Market Shares or Column 6: Column 7: Voting Authority Column 1: Title of Column 3: Value Principal Investment Other --------------------------- Name of Issuer Class CUSIP (000's) Amount Discretion Managers Sole Shared None -------------- ---------------- ----------- --------- ------------ ---------- -------- ---------- ------ --------- HOLDINGS OF GREAT AMERICAN INSURANCE COMPANY - -------------------------------------------- GLOBAL CROSSING LTD SHS NEW G3921A 17 5 102 6,521SH Defined 1 6,521 AMERICAN ELEC PWR INC COM 025537 10 1 4,256 133,000SH Defined " 133,000 BANK OF AMERICA CORPORATION COM 060505 10 4 16,103 190,294SH Defined " 190,294 CABLEVISION SYS CORP CL A NY CABLVS 12686C 10 9 983 50,000SH Defined " 50,000 CITIGROUP INC COM 172967 10 1 4,650 100,000SH Defined " 100,000 COMCAST CORP NEW CL A 20030N 10 1 566 20,153SH Defined " 20,153 COMCAST CORP NEW CL A SPL 20030N 20 0 1,346 48,760SH Defined " 48,760 DPL INC COM 233293 10 9 8,304 427,600SH Defined " 427,600 DOMINION RES INC VA NEW COM 25746U 10 9 1,785 28,300SH Defined " 28,300 ENERGY EAST CORP COM 29266M 10 9 1,947 80,300SH Defined " 80,300 FIRSTENERGY CORP COM 337932 10 7 935 25,000SH Defined " 25,000 GREAT AMERN FINL RES INC COM 389915 10 9 613,199 38,565,995SH Defined " 38,565,995 KROGER CO COM 501044 10 1 137 7,500SH Defined " 7,500 LEUCADIA NATL CORP COM 527288 10 4 2,940 59,161SH Defined " 59,161 MARSH SUPERMARKETS INC CL B 571783 20 8 8,274 602,644SH Defined " 602,644 MARSH SUPERMARKETS INC CL A 571783 30 7 9,796 709,844SH Defined " 709,844 MERCK & CO INC COM 589331 10 7 2,375 50,000SH Defined " 50,000 NTL INC DEL COM 62940M 10 4 5,303 92,040SH Defined " 92,040 NATIONAL CITY CORP COM 635405 10 3 6,652 190,000SH Defined " 190,000 NISOURCE INC COM 65473P 10 5 3,196 155,000SH Defined " 155,000 PNC FINL SVCS GROUP INC COM 693475 10 5 3,397 64,000SH Defined " 64,000 PEPCO HOLDINGS INC COM 713291 10 2 1,654 90,500SH Defined " 90,500 PFIZER INC COM 717081 10 3 5,142 150,000SH Defined " 150,000 PROGRESS ENERGY INC COM 743263 10 5 4,172 94,700SH Defined " 94,700 PROVIDENT FINL GROUP INC COM 743866 10 5 222,151 5,629,771SH Defined " 5,629,771 QWEST COMMUNICATIONS INTL IN COM 749121 10 9 64 17,902SH Defined " 17,902 SBC COMMUNICATIONS INC COM 78387G 10 3 1,455 60,000SH Defined " 60,000 SARA LEE CORP COM 803111 10 3 1,150 50,000SH Defined " 50,000 SEABULK INTL INC COM 81169P 10 1 433 52,456SH Defined " 52,456 SUNTERRA CORP COM NEW 86787D 20 8 819 65,000SH Defined " 65,000 SUNTRUST BKS INC COM 867914 10 3 2,600 40,000SH Defined " 40,000 TIME WARNER INC COM 887317 10 5 460 26,149SH Defined " 26,149 TORTOISE ENERGY INFRSTRCTR C COM 89147L 10 0 1,145 50,000SH Defined " 50,000 TYCO INTL LTD NEW COM 902124 10 6 1,491 45,000SH Defined " 45,000 US BANCORP DEL COM NEW 902973 30 4 3,583 130,000SH Defined " 130,000 UNITED AUTO GROUP INC COM 909440 10 9 696 22,700SH Defined " 22,700 WALTER INDS INC COM 93317Q 10 5 1,615 118,600SH Defined " 118,600 WASHINGTON MUT INC COM 939322 10 3 4,507 116,634SH Defined " 116,634 ZENITH NATL INS CORP COM 989390 10 9 1,200 24,700SH Defined " 24,700

HOLDINGS OF OTHER ENTITIES EACH HAVING LESS THAN $100 MILLION IN 13F SECURITIES - ------------------------------- GLOBAL CROSSING LTD SHS NEW G3921A 17 5 222 14,224SH Defined 1 14,224 BANK OF AMERICA CORPORATION COM 060505 10 4 2 24SH Sole 24 BANK OF AMERICA CORPORATION COM 060505 10 4 1,692 20,000SH Defined 1 20,000 BRISTOL MYERS SQUIBB CO COM 110122 10 8 245 10,000SH Defined " 10,000 BRISTOL MYERS SQUIBB CO COM 110122 10 8 245 10,000SH Other 10,000 CABLEVISION SYS CORP CL A NY CABLVS 12686C 10 9 3,081 156,800SH Defined 1 156,800 CABLEVISION SYS CORP CL A NY CABLVS 12686C 10 9 58 2,977SH Other 2,977 CITIGROUP INC COM 172967 10 1 930 20,000SH Defined 1 20,000 COMCAST CORP NEW CL A 20030N 10 1 416 14,800SH Other 14,800 CONAGRA FOODS INC COM 205887 10 2 593 21,900SH Defined 1 21,900 DPL INC COM 233293 10 9 1,748 90,000SH Defined " 90,000 DPL INC COM 233293 10 9 194 10,000SH Other 10,000 DOMINION RES INC VA NEW COM 25746U 10 9 1,577 25,000SH Defined 1 25,000 ENERGY EAST CORP COM 29266M 10 9 1,940 80,000SH Defined " 80,000 FIRSTENERGY CORP COM 337932 10 7 1,496 40,000SH Defined " 40,000 JOHN HANCOCK BK &THRIFT OPP SH BEN INT 409735 10 7 621 67,200SH Other 67,200 HOST MARRIOTT CORP NEW COM 44107P 10 4 125 10,110SH Other 10,110 KROGER CO COM 501044 10 1 46 2,500SH Defined 1 2,500 LAIDLAW INTL INC COM 50730R 10 2 888 68,543SH Defined " 68,543 LEUCADIA NATL CORP COM 527288 10 4 1,310 26,352SH Sole 26,352 LEUCADIA NATL CORP COM 527288 10 4 245 4,935SH Defined 1 4,935 MERCK & CO INC COM 589331 10 7 475 10,000SH Defined " 10,000 METLIFE INC COM 59156R 10 8 1,761 49,115SH Sole 49,115 NRG ENERGY INC COM NEW 629377 50 8 1,077 43,411SH Defined 1 43,411 NTL INC DEL COM 62940M 10 4 13,354 231,760SH Defined " 231,760 NATIONAL CITY CORP COM 635405 10 3 1,449 41,400SH Defined " 41,400 NISOURCE INC COM 65473P 10 5 619 30,000SH Defined " 30,000 PEPCO HOLDINGS INC COM 713291 10 2 366 20,000SH Defined " 20,000 PFIZER INC COM 717081 10 3 686 20,000SH Defined " 20,000 PIMCO HIGH INCOME FD COM SHS 722014 10 7 5,735 417,700SH Defined " 417,700 POPULAR INC COM 733174 10 6 8,097 189,320SH Defined " 189,320 PROVIDENT FINL GROUP INC COM 743866 10 5 19,718 499,704SH Defined " 499,704 PROVIDENT FINL GROUP INC COM 743866 10 5 5,514 139,739SH Other 139,739 SBC COMMUNICATIONS INC COM 78387G 10 3 485 20,000SH Defined 1 20,000 SANTANDER BANCORP COM 802809 10 3 748 30,250SH Defined " 30,250 SEABULK INTL INC COM 81169P 10 1 162 19,600SH Sole 19,600 SEABULK INTL INC COM 81169P 10 1 1,761 213,201SH Defined 1 213,201 SEABULK INTL INC COM 81169P 10 1 809 98,000SH Other 98,000 SUNTERRA CORP COM NEW 86787D 20 8 1,890 150,000SH Defined 1 150,000 SUNTRUST BKS INC COM 867914 10 3 2,600 40,000SH Defined " 40,000 TORTOISE ENERGY INFRSTRCTR C COM 89147L 10 0 1,145 50,000SH Defined " 50,000 US BANCORP DEL COM NEW 902973 30 4 1,378 50,000SH Defined " 50,000 US BANCORP DEL COM NEW 902973 30 4 784 28,462SH Other 28,462 UNITED AUTO GROUP INC COM 909440 10 9 628 20,500SH Defined 1 20,500 WALTER INDS INC COM 93317Q 10 5 1,742 127,900SH Defined " 127,900 WASHINGTON MUT INC COM 939322 10 3 2,654 68,679SH Defined " 68,679 ZENITH NATL INS CORP COM 989390 10 9 1,628 33,500SH Other 33,500 ---------- REPORT TOTAL $1,045,522 ==========