UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F HR
Form 13F Cover Page
Report for the Calendar Year or Quarter Ended: March 31, 2005
Check here if Amendment ( X ) ; Amendment Number: 1
This Amendment (Check only one.): ( ) is a restatement
( ) adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Friedman, Billings, Ramsey Group
Address: 1001 19th Street North
Potomac Tower
Arlington, VA 22209
13F File Number: 28-5254
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 the 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: James Lindsay
Title: Acting Chief Compliance Officer
Phone: 703-469-1022
Signature, Place, and Date of Signing:
James Lindsay Arlington, VA May 16, 2005
Report Type (Check only one.):
(X ) 13F HOLDINGS REPORT
( ) 13F NOTICE.
( ) 13F COMBINATION REPORT
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 6
Form 13F Information Table Entry Total: 69,148,330
Form 13F Information Table Value Total: $1,353,266,466
List of Other Included Managers:
No: Name
1) Friedman Billings Ramsey & Co.
2) Friedman Billings Ramsey Investment management Inc.
3) FBR Fund Advisers, Inc.
4) FBR Venture Capital Managers, Inc.
5) Money Management Associates
6) FBR Group
Name of Issuer Cla Cusip Value Prn Sh Put/ Inv. Oth Sole
ss x1000 Amt Prn call Disc Mgr Mgr
Aames Inv. Corp. com 00253G108 48528 5918000 sh 0 sole 0 5918000
Accredited Home Lend com 00437P107 21474 592725 sh 0 sole 0 592725
Accredited P35 6/18/05 put 00437P8RG 5435 1500 sh put sole 0 1500
ACS Media Income Fund com 000878108 584 60200 sh 0 sole 0 60200
Adolor Corp. com 00724X102 696 70000 sh 0 sole 0 70000
Advancis com 00764L109 1471 397468 sh 0 sole 0 397468
AGL Resources com 001204106 6375 182500 sh 0 sole 0 182500
Align Tech com 016255101 563 90200 sh 0 sole 0 90200
Allegheny Energy com 017361106 257 12450 sh 0 sole 0 12450
Alliant Energy com 018802108 782 29200 sh 0 sole 0 29200
Allied Healthcare com 01923A109 14720 2355170 sh 0 sole 0 2355170
Allin Corporation com 019924109 257 916177 sh 0 sole 0 916177
Altiva Corporation com 021497201 0 285230 sh 0 sole 0 285230
Ameren/aee com 023608102 2285 46625 sh 0 sole 0 46625
American Ele Power com 025537101 2541 74600 sh 0 sole 0 74600
American Express com 025816109 8042 156558 sh 0 sole 0 156558
Americredit Corp com 03060R101 17807 759700 sh 0 sole 0 759700
Ameritrade com 03074K100 1497 146630 sh 0 sole 0 146630
Annaly Mortgage com 035710409 469 25000 sh 0 sole 0 25000
Anthracite com 37023108 1445 129750 sh 0 sole 0 129750
Anworth Mortgage com 037347101 1862 195000 sh 0 sole 0 195000
Applied Materials com 038222105 311 19150 sh 0 sole 0 19150
Aquila Inc com 03840P102 754 196750 sh 0 sole 0 196750
Ares Capital Corp. com 04010L103 574 35000 sh 0 sole 0 35000
Ashford Hospitality com 44103109 464 45517 sh 0 sole 0 45517
Asta Funding com 046220109 9258 437322 sh 0 sole 0 437322
Astoria Fin'l com 046265104 2100 83000 sh 0 sole 0 83000
Atmos Energy com 049560105 6014 222750 sh 0 sole 0 222750
Avanir Pharma Cl. A com 05348P104 357 162250 sh 0 sole 0 162250
Avista Corp com 05379B107 456 26075 sh 0 sole 0 26075
B&G Foods com 05508R205 1497 100500 sh 0 sole 0 100500
Banc Rhode Island com 059690107 9596 256573 sh 0 sole 0 256573
Bank Mutual com 063750103 10081 852895 sh 0 sole 0 852895
Bank of America com 060505104 7497 170004 sh 0 sole 0 170004
BankUnited Fin'l com 06652B103 18291 680963 sh 0 sole 0 680963
Banner Bank com 06652V109 12456 461861 sh 0 sole 0 461861
Barrier Therapeutics com 06850R108 226 14614 sh 0 sole 0 14614
Bayer AG ADR adr 072730302 1330 40198 sh 0 sole 0 40198
Berkshire Hathaway com 084670108 18270 210 sh 0 sole 0 210
Berkshire Hills Banc com 084680107 284 8400 sh 0 sole 0 8400
Bimini Mortgage Mgmt. com 09031E400 1681 121400 sh 0 sole 0 121400
Bioenvision Inc. com 09059N100 174 30295 sh 0 sole 0 30295
Biogen Idec com 09062X103 1656 48000 sh 0 sole 0 48000
Biovail com 09067J109 564 37400 sh 0 sole 0 37400
Bonavista Energy com 098536105 1808 60000 sh 0 sole 0 60000
Brookline Bcorp com 11373M107 5141 345054 sh 0 sole 0 345054
Canon Inc/caj com 138006309 284 5300 sh 0 sole 0 5300
Capital Lease Funding com 140288101 5277 477515 sh 0 sole 0 477515
Capital One Fin'l com 14040H105 1196 16000 sh 0 sole 0 16000
Capitol Fed Finl com 14057C106 6661 192300 sh 0 sole 0 192300
Cardiac Science com 141410209 196 170000 sh 0 sole 0 170000
Cardiome Pharm com 14159U202 580 93500 sh 0 sole 0 93500
CenterPoint Energy com 15189T107 3731 310100 sh 0 sole 0 310100
CH Energy Group com 12541M102 386 8450 sh 0 sole 0 8450
Chesapeake Utilities com 165303108 336 12640 sh 0 sole 0 12640
Cheviot Financial com 166774109 180 15312 sh 0 sole 0 15312
Cinergy Corp com 172474108 2988 73750 sh 0 sole 0 73750
CIT Group Hldgs com 125581108 8816 232000 sh 0 sole 0 232000
Citigroup com 172967101 9837 218900 sh 0 sole 0 218900
City Holding com 177835105 2327 78800 sh 0 sole 0 78800
CMET Finance Holdings com 189758204 8900 92500 sh 0 sole 0 92500
CMS Energy com 125896100 1577 120900 sh 0 sole 0 120900
Coinmach Service Corp. com 19259W109 1804 137200 sh 0 sole 0 137200
Comerica Inc com 200340107 1597 29000 sh 0 sole 0 29000
Commerical Cap com 20162L105 22182 1090000 sh 0 sole 0 1090000
Consol Energy com 20854P109 10815 230000 sh 0 sole 0 230000
Consolidated Edison com 209115104 4605 109175 sh 0 sole 0 109175
Constellation Enrgy com 210371100 1795 34725 sh 0 sole 0 34725
Cyberonics com 23251P102 442 10000 sh 0 sole 0 10000
Cyberonics C45 4/16/05 call 23251P9DI 1325 300 sh cal sole 0 300
Cypress Bioscience com 232674507 529 57894 sh 0 sole 0 57894
Delta Natural Gas com 247748106 241 9345 sh 0 sole 0 9345
Diamond Rock Hosp. com 252784202 5325 500000 sh 0 sole 0 500000
Dime Comm Bcp com 253922108 8763 576497 sh 0 sole 0 576497
Dominion Resources com 25746U109 10349 139050 sh 0 sole 0 139050
Doral Fin. com 25811P100 1095 50000 sh 0 sole 0 50000
Downey Fin'l Corp com 261018105 28611 465000 sh 0 sole 0 465000
DTE Energy Hds com 233331107 3337 73375 sh 0 sole 0 73375
Duke Energy com 264399106 12565 448600 sh 0 sole 0 448600
Dynavax com 268158102 324 69444 sh 0 sole 0 69444
E ON Ag com 268780103 12338 429150 sh 0 sole 0 429150
Etrade Financial com 269246104 3165 263743 sh 0 sole 0 263743
ECC Capital Corp. com 26826M108 30841 5140110 sh 0 sole 0 5140110
El Paso Energy com 28336L109 7723 729950 sh 0 sole 0 729950
EMC Corporation com 268648102 274 22275 sh 0 sole 0 22275
Enbridge Inc com 29250N105 12734 247350 sh 0 sole 0 247350
Encysive Pharma com 29256X107 204 20000 sh 0 sole 0 20000
Energen Corp com 29265N108 3145 47225 sh 0 sole 0 47225
Energy East Corp com 29266M109 3456 131800 sh 0 sole 0 131800
Energysouth Inc com 292970100 615 21486 sh 0 sole 0 21486
Entergy Corp com 29364G103 336 4750 sh 0 sole 0 4750
Equitable Resources com 294549100 3860 67200 sh 0 sole 0 67200
Exelon Corp com 30161N101 4422 96350 sh 0 sole 0 96350
Fannie Mae com 313586109 381 7000 sh 0 sole 0 7000
FFLC Bancorp com 30242W104 1048 25301 sh 0 sole 0 25301
First Pac Trust com 33589V101 2659 98519 sh 0 sole 0 98519
First Place Fin'l com 33610T109 900 49174 sh 0 sole 0 49174
FirstFed Fin'l Corp com 337907109 34942 685000 sh 0 sole 0 685000
Flusing Finl com 343873105 1865 102461 sh 0 sole 0 102461
Ford Motor Co 1/20/07 put 345370950 567 500 sh put sole 0 500
Franklin Bank com 352451108 13320 772172 sh 0 sole 0 772172
Freddie Mac com 313400301 600 9500 sh 0 sole 0 9500
Friedman Billings Ram com 358434108 14174 893155 sh 0 sole 0 893155
Genaera Corp. com 36867G100 350 153451 sh 0 sole 0 153451
Genentech com 368710406 1698 30000 sh 0 sole 0 30000
GFI Group com 361652209 1492 55622 sh 0 sole 0 55622
Golden West Fin'l com 381317106 2087 34500 sh 0 sole 0 34500
Goldman Sachs com 38141G104 5159 46900 sh 0 sole 0 46900
Google P130 1/21/2006 put 38259P958 18051 1000 sh put sole 0 1000
Gov't Properties Tr com 38374W107 3909 392500 sh 0 sole 0 392500
Greenville 1st Bk com 39607Y100 1006 47900 sh 0 sole 0 47900
Hana Biosciences com 40963P105 627 379940 sh 0 sole 0 379940
Hanmi Financial com 410495105 2085 126000 sh 0 sole 0 126000
Harleysville Svgs com 412865107 389 20771 sh 0 sole 0 20771
Harrington W Finl com 41383L104 619 37400 sh 0 sole 0 37400
Hewlett-Packard com 428236103 218 9950 sh 0 sole 0 9950
Highland wts 9310298 948 621942 sh 0 sole 0 621942
Hingham Inst Svgs com 433323102 4207 102600 sh 0 sole 0 102600
HMN Fin'l com 40424G108 4273 137843 sh 0 sole 0 137843
Hudson City com 443683107 30190 826000 sh 0 sole 0 826000
Impac Mort P20 7/16/05 put 45254P8SD 480 250 sh put sole 0 250
Impac Mort. Holdings com 45254P102 581 30300 sh 0 sole 0 30300
Inamed Corp. com 453235103 1244 17800 sh 0 sole 0 17800
Independence com 453414104 9867 252997 sh 0 sole 0 252997
Intel Corp com 458140100 243 10450 sh 0 sole 0 10450
Integrated Alarm com 45890M109 2750 550000 sh 0 sole 0 550000
ITLA Capital Corp com 450565106 17537 351023 sh 0 sole 0 351023
IVAX Corp. com 465823102 1839 93000 sh 0 sole 0 93000
JPMorgan Chase com 46625H100 5657 163500 sh 0 sole 0 163500
Kearny Fin. com 487169104 140 12595 sh 0 sole 0 12595
Keryx Biopharma com 492515101 364 27278 sh 0 sole 0 27278
Keycorp com 493267108 1201 37000 sh 0 sole 0 37000
Keyspan Corp com 49337W100 10310 264550 sh 0 sole 0 264550
Laclede Gas com 505597104 1643 56250 sh 0 sole 0 56250
Lehman Bros. com 524908100 8133 86370 sh 0 sole 0 86370
Luminent Mortgage com 550278303 1228 111800 sh 0 sole 0 111800
MAF Bancorp com 55261R108 6642 159900 sh 0 sole 0 159900
MassBank Corp com 576152102 4971 131339 sh 0 sole 0 131339
MBNA Corp com 55262L100 454 18500 sh 0 sole 0 18500
MDU Resource com 552690109 1784 64600 sh 0 sole 0 64600
Medicines Co. com 584688105 360 15896 sh 0 sole 0 15896
Medicis Pharma com 584690309 1199 40000 sh 0 sole 0 40000
Merrill Lynch com 590188108 340 6000 sh 0 sole 0 6000
MFA Mortgage Inv com 55272X102 1857 244000 sh 0 sole 0 244000
MGE Energy Inc com 55277P104 451 13594 sh 0 sole 0 13594
MGI Pharma com 552880106 505 20000 sh 0 sole 0 20000
Micron Tech com 595112103 125 12050 sh 0 sole 0 12050
Monsanto com 61166W101 645 10000 sh 0 sole 0 10000
Morgan Stanley com 617446448 458 8000 sh 0 sole 0 8000
Mortgage It Holdings com 61915Q108 30630 1920367 sh 0 sole 0 1920367
Motorola, Inc com 620076109 316 21100 sh 0 sole 0 21100
NABI Biopharma com 629519109 993 79600 sh 0 sole 0 79600
National Fuel Gas com 636180101 4074 142500 sh 0 sole 0 142500
Nat'l City Corp com 635405103 637 19000 sh 0 sole 0 19000
Nat'l Grid Transco com 636274102 12637 270300 sh 0 sole 0 270300
Nektar Ther c12.5 5/05 call 6402689EV 279 200 sh cal sole 0 200
Nektar Thera com 640268108 279 20000 sh 0 sole 0 20000
New Century Financial com 6435EV108 72284 1543863 sh 0 sole 0 1543863
New Century P45 5//05 put 6435EV8QI 11705 2500 sh put sole 0 2500
New York Mortgage Tr com 649604105 13800 1350300 sh 0 sole 0 1350300
NewAlliance Banc com 650203102 8471 605100 sh 0 sole 0 605100
Nexia Biotech com 65334K105 41 225000 sh 0 sole 0 225000
Nicor Inc com 654086107 4334 116850 sh 0 sole 0 116850
Nisource Inc com 65473P105 9536 418450 sh 0 sole 0 418450
Nitromed com 654798503 692 40000 sh 0 sole 0 40000
NJ Resources com 646025106 2749 63150 sh 0 sole 0 63150
Nokia Corp com 654902204 287 18625 sh 0 sole 0 18625
North Fork Bcorp com 659424105 943 34000 sh 0 sole 0 34000
Northeast Utilities com 664397106 691 35875 sh 0 sole 0 35875
Northstar Rlty. Fin. com 66704R100 639 66000 sh 0 sole 0 66000
Northwestern Corp com 668074305 769 29177 sh 0 sole 0 29177
Novartis AG com 66987V109 1136 24275 sh 0 sole 0 24275
Novastar Fin. com 669947400 472 13100 sh 0 sole 0 13100
Nstar com 67019E107 903 16625 sh 0 sole 0 16625
NW Natural Gas com 667655104 2830 78250 sh 0 sole 0 78250
NY Cmmty Banc com 649445103 2543 140020 sh 0 sole 0 140020
Oneok Inc com 682680103 4876 158200 sh 0 sole 0 158200
Orthovita, Inc com 68750U102 58 17200 sh 0 sole 0 17200
Otelco Ind. com 688823202 1887 122900 sh 0 sole 0 122900
Pacific Premier com 69478X105 2438 221650 sh 0 sole 0 221650
Pamrapo Bancorp com 697738102 431 19610 sh 0 sole 0 19610
Parkvale Fin'l com 701492100 7316 263177 sh 0 sole 0 263177
Partners Trust Finl com 70213F102 1644 155118 sh 0 sole 0 155118
Pennfed Fin'l com 708167101 2186 147322 sh 0 sole 0 147322
Peoples Bk-CT com 710198102 4320 105500 sh 0 sole 0 105500
Peoples Energy com 711030106 3867 92250 sh 0 sole 0 92250
Pepco Holdings com 713291102 335 15941 sh 0 sole 0 15941
PFF Bancorp com 69331W104 17581 637000 sh 0 sole 0 637000
PG&E Corp com 69331C108 10898 319575 sh 0 sole 0 319575
Piedmont Nat Gas com 720186105 4917 213400 sh 0 sole 0 213400
PMI Group com 69344M101 7385 194288 sh 0 sole 0 194288
PNC Fin. Svcs. com 693475105 10811 210000 sh 0 sole 0 210000
PNM Resources com 69349H107 705 26425 sh 0 sole 0 26425
PPL Corp com 69351T106 463 8575 sh 0 sole 0 8575
Preferred Bank com 740367107 998 25000 sh 0 sole 0 25000
Primewest P22.5 6/05 put 7419308RX 719 300 sh put sole 0 300
Primewest P25 6/18/05 put 7419308RE 719 300 sh put sole 0 300
Primus Gty. com G72457107 1240 95200 sh 0 sole 0 95200
ProCentury com 74268T108 8913 849700 sh 0 sole 0 849700
Provident Finl com 74386T105 7375 431300 sh 0 sole 0 431300
Public Svc Ent Gp com 744573106 7476 137450 sh 0 sole 0 137450
Puget Energy com 745310102 1630 73950 sh 0 sole 0 73950
Quanta Capital Holdingscom G7313F106 35690 4470620 sh 0 sole 0 4470620
Questar Corp com 748356102 7110 120000 sh 0 sole 0 120000
Redwood Trust com 758075402 256 5000 sh 0 sole 0 5000
Renovis com 759885106 372 46100 sh 0 sole 0 46100
Rigel Pharma com 766559603 1038 64732 sh 0 sole 0 64732
Saxon com 80556T106 54916 3192785 sh 0 sole 0 3192785
SBC Communic com 78387G103 280 11825 sh 0 sole 0 11825
Schering Plough com 806605101 266 14650 sh 0 sole 0 14650
Semco Energy com 78412D109 415 72175 sh 0 sole 0 72175
Sierra Pac Res Hld com 826428104 119 11050 sh 0 sole 0 11050
SLM Corp. com 78442P106 5233 105000 sh 0 sole 0 105000
Solectron Corp com 834182107 96 27600 sh 0 sole 0 27600
Sonosite Inc com 83568G104 811 31200 sh 0 sole 0 31200
Sony Corp ADR com 835699307 275 6875 sh 0 sole 0 6875
South Jersey Indu com 838518108 1880 33330 sh 0 sole 0 33330
Southern Union com 844030106 7377 293783 sh 0 sole 0 293783
Southwest Gas com 844895102 2432 100650 sh 0 sole 0 100650
Sovereign Bancorp com 845905108 15005 677115 sh 0 sole 0 677115
Specialty Underwriters com 84751T309 11082 1242410 sh 0 sole 0 1242410
StanCorp Finl com 852891100 6782 80000 sh 0 sole 0 80000
Sterling Fin'l com 859319105 23251 651300 sh 0 sole 0 651300
STMicroelectronics com 861012102 193 11600 sh 0 sole 0 11600
Stryker Corp. com 863667101 446 10000 sh 0 sole 0 10000
Sun Microsystems com 866810104 175 43200 sh 0 sole 0 43200
Suntrust Banks com 867914103 1946 27000 sh 0 sole 0 27000
SW Energy com 845467109 1139 20075 sh 0 sole 0 20075
Syneron Med. com M87245102 1049 32925 sh 0 sole 0 32925
Taylor Capital com 876851106 13065 400161 sh 0 sole 0 400161
Teco Energy com 872375100 582 37125 sh 0 sole 0 37125
Teva Pharma ADR com 881624209 1286 41480 sh 0 sole 0 41480
Texas Instruments com 882508104 269 10550 sh 0 sole 0 10550
TF Fin'l Corp/thrd com 872391107 2599 90523 sh 0 sole 0 90523
Thornburg P30 7/16/05 put 8852188SF 1682 600 sh put sole 0 600
Thornburg Mtg com 885218107 7394 263700 sh 0 sole 0 263700
TierOne Corp com 88650R108 707 30100 sh 0 sole 0 30100
Titan Pharma com 888314101 374 168650 sh 0 sole 0 168650
Tower Group Inc. com 891777104 6670 500000 sh 0 sole 0 500000
TransCanada com 89353D107 12582 509400 sh 0 sole 0 509400
UGI Corp com 902681105 1757 38675 sh 0 sole 0 38675
Unionbancal Corp com 908906100 1286 21000 sh 0 sole 0 21000
United Therapeutics com 91307C102 779 17054 sh 0 sole 0 17054
Vaxgen Inc. com 922390208 816 65400 sh 0 sole 0 65400
Vectren Corp com 92240G101 3136 117725 sh 0 sole 0 117725
VerticalNet com 92532L206 1321 1518907 sh 0 sole 0 1518907
Vivus com 928551100 466 155714 sh 0 sole 0 155714
Wachovia Corp com 929903102 5570 109410 sh 0 sole 0 109410
Washington Fed com 938824109 29746 1273560 sh 0 sole 0 1273560
Webster Fin'l com 947890109 681 15000 sh 0 sole 0 15000
Westcorp Inc com 957907108 21484 508500 sh 0 sole 0 508500
WGL Holdings com 92924F106 4009 129500 sh 0 sole 0 129500
Williams Comp com 969457100 7738 411400 sh 0 sole 0 411400
Wisconsin Energy com 976657106 1532 43150 sh 0 sole 0 43150
WPS Resources com 92931B106 666 12580 sh 0 sole 0 12580
WSFS Financial com 929328102 5397 102678 sh 0 sole 0 102678
Xcel Energy com 98389B100 2096 122000 sh 0 sole 0 122000
Yardville Nat'l com 985021104 10946 335562 sh 0 sole 0 335562
YM Biosciences com 984238105 345 113700 sh 0 sole 0 113700