SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                               (Amendment No. )*

                           AMERICAN EQUITY INVESTMENT
                      ------------------------------------
                                (Name of Issuer)

                                  COMMON STOCK
                      ------------------------------------
                         (Title of Class of Securities)

                                    25676206
                      ------------------------------------
                                 (CUSIP Number)

Check the following box if a fee is being paid with this statement [ ]. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)

* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the \
Notes).


CUSIP No. 25676206                  13G

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1   NAME OF REPORTING PERSON
    S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

    CRAMER ROSENTHAL MCGLYNN, LLC
    IRS ID# 13-3156718
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2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                             (a)  [ ]
                                                             (b)  [X]
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3   SEC USE ONLY

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4   CITIZENSHIP OR PLACE OF ORGANIZATION

    INCORPORATED IN THE STATE OF NEW YORK

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   NUMBER OF           5    SOLE VOTING POWER

    SHARES                  3,563,250
                        --------------------------------------------------------
 BENEFICIALLY           6   SHARED VOTING POWER

   OWNED BY                 0
                        --------------------------------------------------------
     EACH               7   SOLE DISPOSITIVE POWER

   REPORTING                3,675,950
                        --------------------------------------------------------
    PERSON              8   SHARED DISPOSITIVE POWER

     WITH                   59,500
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9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

    3,735,450 SHARES
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10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

--------------------------------------------------------------------------------
11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

    6.68%
--------------------------------------------------------------------------------
12  TYPE OF REPORTING PERSON*

    IA
------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT


Item 1.  (a)  Name of Issuer: AMERICAN EQUITY INVESTMENT

         (b)  Address of Issuer's Principal Executive Offices:

              5000 WESTOWN PARKWAY
              WEST DES MOINES, IA 50266

Item 2.  (a)  Name of Person Filing:

              CRAMER ROSENTHAL MCGLYNN, LLC

         (b)  Address of Principal Business Office:

              520 Madison Avenue, New York, New York 10022

         (c)  Citizenship:

              INCORPORATED IN THE STATE OF NEW YORK

         (d)  Title of Class of Securities:

              COMMON STOCK

         (e)  CUSIP Number: 025676206

Item 3.  If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
         check whether the person filing is a:

         (a)  [ ] Broker or Dealer registered under Section 15 of the Act

         (b)  [ ] Bank as defined in section 3(a)(6) of the Act

         (c)  [ ] Insurance Company as defined in section 3(a)(19)of the Act

         (d)  [ ] Investment Company registered under section 8 of the
                  Investment Company Act

         (e)  [X] Investment Adviser registered under section 203 of the
                  Investment Advisers Act of 1940

         (f)  [ ] Employee Benefit Plan, Pension Fund which is subject to the
                  provisions of the Employee Retirement Income Security Act of
                  1974 or Endowment Fund; see Section 240.13d-1(b)(1)(ii)(F)

         (g)  [ ] Parent Holding Company, in accordance with section 240.13d-1
                  (b)(1)(ii)(G)

         (h)  [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(H)

Item 4.  Ownership.

Item 5.  Ownership of Five Percent or Less of a Class.

         NOT APPLICABLE

Item 6.  Ownership of More Than Five Percent on Behalf of Another Person.

         ONE CLASS OF STOCK 6.68%

Item 7.  Identification and Classification of the Subsidiary which Acquired
         the Security Being Reported on By the Parent Holding Company.

         NOT APPLICABLE

Item 8.  Identification and Classification of Members of the Group.

         NOT APPLICABLE

Item 9.  Notice of Dissolution of Group.

         NOT APPLICABLE


Item 10. Certification.

By signing  below I certify  that,  to the best of my knowledge  and belief,
the  securities  referred  to above  were  acquired  in the ordinary course
of business and were not acquired for the purpose of and do not have the effect
of changing or influencing the control of the issuer of such  securities and
were not acquired in  connection with or as a participant in any  transaction
having such purpose or effect.


                                  Signature.

                                  /s/ Steven Yadegari
                                  -------------------------------------
                                      General Counsel

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.

Date: 1/31/07