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: December 31, 2004
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: Nicholas J. Nichols
Title: EVP and Chief Compliance Officer
Phone: 703-312-9500
Signature, Place, and Date of Signing:
Nicholas J. Nichols Arlington, VA February 11, 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: 71,132,587
Form 13F Information Table Value Total: $1,522,979,327
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 Investment Corp com 00253G108 60017 5609100 sh 0 sole 0 5609100
Abbot Labs com 002824100 933 20000 sh 0 sole 0 20000
Accredited Home Lend com 00437P107 10758 216545 sh 0 sole 0 216545
AGL Resources com 001204106 5498 165400 sh 0 sole 0 165400
Allegheny Energy com 017361106 245 12450 sh 0 sole 0 12450
Alliant Energy com 018802108 849 29700 sh 0 sole 0 29700
Allied Healthcare com 01923A109 15827 2877600 sh 0 sole 0 2877600
Allin Corporation com 019924109 266 1021177 sh 0 sole 0 1021177
Ameren com 023608102 2255 44975 sh 0 sole 0 44975
American Ele Power com 025537101 2517 73300 sh 0 sole 0 73300
American Express com 025816109 1127 20000 sh 0 sole 0 20000
American Home Mort. com 02660R107 948 27685 sh 0 sole 0 27685
Americredit Corp com 03060R101 25766 1053830 sh 0 sole 0 1053830
Annaly Mortgage com 035710409 3237 165000 sh 0 sole 0 165000
Anthracite Capital com 037023108 433 35000 sh 0 sole 0 35000
Anworth Mortgage com 037347101 3106 290000 sh 0 sole 0 290000
Apple computer com 037833100 203 3150 sh 0 sole 0 3150
Applied Materials com 038222105 293 17150 sh 0 sole 0 17150
Aquila Inc com 03840P102 757 205150 sh 0 sole 0 205150
Ashford Hospitality com 044103109 495 45517 sh 0 sole 0 45517
Asta Funding com 046220109 1281 1477322 sh 0 sole 0 477322
Astoria Fin'l com 046265104 2398 60000 sh 0 sole 0 60000
Atmos Energy com 049560105 5786 211550 sh 0 sole 0 211550
Avanir Pharma com 05348P104 417 122250 sh 0 sole 0 122250
Avista Corp com 05379B107 485 27450 sh 0 sole 0 27450
Banc Rhode Island com 059690107 10931 275896 sh 0 sole 0 275896
Bank Mutual com 063750103 11414 937895 sh 0 sole 0 937895
Bank North Gp com 06646R107 256 7000 sh 0 sole 0 7000
Bank of America com 060505104 18516 394047 sh 0 sole 0 394047
BankUnited Fin'l com 06652B103 20443 639833 sh 0 sole 0 639833
Banner Bank com 06652V109 13283 425876 sh 0 sole 0 425876
Bayer AG adr 072730302 1366 40198 sh 0 sole 0 40198
Berkshire Hathaway - A com 084670108 7911 90 sh 0 sole 0 90
Bipvial Corp. com 09067J109 661 40000 sh 0 sole 0 40000
Bristol Myers Squibb com 110122108 1220 47600 sh 0 sole 0 47600
Brookline Bcorp com 11373M107 7010 429554 sh 0 sole 0 429554
Canon Inc com 138006309 304 5600 sh 0 sole 0 5600
Capital Lease Funding com 140288101 5094 407515 sh 0 sole 0 407515
Capital One Fin'l com 14040H105 1684 20000 sh 0 sole 0 20000
Capitol Fed Finl com 14057C106 8622 239500 sh 0 sole 0 239500
CenterPoint Energy com 15189T107 3444 304800 sh 0 sole 0 304800
Ceres Group com 156772105 542 105000 sh 0 sole 0 105000
CH Energy Group com 12541M102 406 8450 sh 0 sole 0 8450
Chesapeake Utilities com 165303108 335 12540 sh 0 sole 0 12540
Cheviot Financial com 166774109 555 44012 sh 0 sole 0 44012
Cinergy Corp com 172474108 2870 68950 sh 0 sole 0 68950
CIT Group Hldgs. com 125581108 1970 43000 sh 0 sole 0 43000
Citigroup com 172967101 34413 714262 sh 0 sole 0 714262
City Holding com 177835105 3218 88800 sh 0 sole 0 88800
CMET Finance Holdings com 189758204 8900 92500 sh 0 sole 0 92500
CMS Energy com 125896100 1285 123000 sh 0 sole 0 123000
Collegiate Funding com 19458M108 1595 113182 sh 0 sole 0 113182
comerica Inc com 200340107 1770 29000 sh 0 sole 0 29000
commerce Bancorp com 200519106 386 6000 sh 0 sole 0 6000
commerical Cap com 20162L105 27031 1166116 sh 0 sole 0 1166116
CONNETICS CORP com 208192104 1090 44860 sh 0 sole 0 44860
Conseco com 208464883 299 15000 sh 0 sole 0 15000
Consol Energy com 20854P109 12951 315500 sh 0 sole 0 315500
Consolidated Edison com 209115104 4575 104575 sh 0 sole 0 104575
Constellation Enrgy com 210371100 1507 34475 sh 0 sole 0 34475
Countrywide Finl com 222372104 370 10000 sh 0 sole 0 10000
CTI Molecular Imaging com 22943D105 495 34860 sh 0 sole 0 34860
CYPRESS BIOSCIENCE INC com 232674507 902 64166 sh 0 sole 0 64166
Delta Natural Gas com 247748106 254 9345 sh 0 sole 0 9345
Diamond Rock Hosp. com 252784202 5100 500000 sh 0 sole 0 500000
Dime comm Bcp com 253922108 8839 493497 sh 0 sole 0 493497
Discovery Labs com 254668106 666 84000 sh 0 sole 0 84000
Dominion Resources com 25746U109 9135 134850 sh 0 sole 0 134850
Downey Fin'l Corp com 261018105 26408 463300 sh 0 sole 0 463300
DTE Energy Hds com 233331107 3096 71775 sh 0 sole 0 71775
Duke Energy com 264399106 11657 460200 sh 0 sole 0 460200
Dynavax (DVAX) com 268158102 556 69444 sh 0 sole 0 69444
E ON Ag com 268780103 11967 131500 sh 0 sole 0 131500
El Paso Energy com 28336L109 7356 707350 sh 0 sole 0 707350
Elan PLC adr 284131208 545 20000 sh 0 sole 0 20000
EMC Corporation com 268648102 297 19975 sh 0 sole 0 19975
Enbridge Inc com 29250N105 12126 243600 sh 0 sole 0 243600
Energen Corp com 29265N108 2719 46125 sh 0 sole 0 46125
Energy East Corp com 29266M109 3476 130300 sh 0 sole 0 130300
Energysouth Inc com 292970100 602 21486 sh 0 sole 0 21486
Entergy Corp com 29364G103 341 5050 sh 0 sole 0 5050
Enzon Pharma com 293904108 447 32600 sh 0 sole 0 32600
Equitable Resources com 294549100 3922 64650 sh 0 sole 0 64650
Exelon Corp com 30161N101 4057 92050 sh 0 sole 0 92050
Falcon Financial Inv. com 306032103 6309 901300 sh 0 sole 0 901300
Fannie Mae com 313586109 1104 15500 sh 0 sole 0 15500
FFLC Bancorp com 30242W104 941 26800 sh 0 sole 0 26800
First Pac Trust com 33589V101 2960 108243 sh 0 sole 0 108243
First Place Fin'l com 33610T109 1101 49174 sh 0 sole 0 49174
FirstFed Fin'l Corp com 337907109 37196 717100 sh 0 sole 0 717100
Flusing Finl com 343873105 1754 87461 sh 0 sole 0 87461
Franklin Bank com 352451108 13178 722072 sh 0 sole 0 722072
Freddie Mac com 313400301 1253 17000 sh 0 sole 0 17000
Friedman Billings Ram com 358434108 17318 893155 sh 0 sole 0 893155
Genaera Corp. com 36867G100 534 156151 sh 0 sole 0 156151
Genzyme com 372917104 675 11620 sh 0 sole 0 11620
GlaxoSmithKline adr 37733W105 948 20000 sh 0 sole 0 20000
Golden West Fin'l com 381317106 2334 38000 sh 0 sole 0 38000
Goldman Sachs com 38141G104 208 2000 sh 0 sole 0 2000
Government Properties com 9302888 2071 210000 sh 0 sole 0 210000
Gov't Properties Tr com 38374W107 3180 322500 sh 0 sole 0 322500
Greenville 1st Bk com 39607Y100 972 49600 sh 0 sole 0 49600
Hana Biosciences com 40963P105 2242 379940 sh 0 sole 0 379940
Hanmi Financial com 410495105 4232 117750 sh 0 sole 0 117750
Harleysville Svgs com 412865107 225 7463 sh 0 sole 0 7463
Hewlett-Packard com 428236103 291 13900 sh 0 sole 0 13900
Hibernia Corp com 428656102 590 20000 sh 0 sole 0 20000
Highland wts 9310298 1389 621942 sh 0 sole 0 621942
Hingham Inst Svgs com 433323102 4682 107600 sh 0 sole 0 107600
HMN Fin'l com 40424G108 4434 138143 sh 0 sole 0 138143
Hudson City com 443683107 29898 812000 sh 0 sole 0 812000
Impac Mortgage com 45254P102 15104 666260 sh 0 sole 0 666260
Independence com 453414104 12135 285000 sh 0 sole 0 285000
Inkine Pharma com 457214104 190 35000 sh 0 sole 0 35000
Integrated Alarm com 45890M109 3020 550000 sh 0 sole 0 550000
Intel Corp com 458140100 294 12550 sh 0 sole 0 12550
Invitrogen Corp. com 46185R100 1560 23240 sh 0 sole 0 23240
ITLA Capital Corp com 450565106 20654 351319 sh 0 sole 0 351319
JPMorgan Chase com 46625H100 28653 734508 sh 0 sole 0 734508
Keycorp com 493267108 1492 44000 sh 0 sole 0 44000
Keyspan Corp com 49337W100 10117 256450 sh 0 sole 0 256450
Laclede Gas com 505597104 1786 57350 sh 0 sole 0 57350
Lehman Bros. com 524908100 17848 204027 sh 0 sole 0 204027
Luminent Mortgage com 550278303 2166 182000 sh 0 sole 0 182000
MAF Bancorp com 55261R108 5553 123900 sh 0 sole 0 123900
Marteck BioScien com 572901106 1664 32500 sh 0 sole 0 32500
MassBank Corp com 576152102 4979 132940 sh 0 sole 0 132940
MBNA Corp com 55262L100 5142 182391 sh 0 sole 0 182391
MDU Resource com 552690109 1726 64700 sh 0 sole 0 64700
Medicines Company com 584688105 1004 34860 sh 0 sole 0 34860
Mellon Fin'l com 58551A108 14139 454486 sh 0 sole 0 454486
Merck com 589331107 1307 40670 sh 0 sole 0 40670
Merrill Lynch com 590188108 11682 195449 sh 0 sole 0 195449
MFA Mortgage Inv com 55272X102 3116 353300 sh 0 sole 0 353300
MGE Energy Inc com 55277P104 502 13919 sh 0 sole 0 13919
MGI Pharma com 552880106 1302 46480 sh 0 sole 0 46480
Morgan Stanley com 617446448 5185 93386 sh 0 sole 0 93386
Mortgage It Holdings com 61915Q108 34471 1920367 sh 0 sole 0 1920367
Motorola, Inc com 620076109 294 17100 sh 0 sole 0 17100
National Fuel Gas com 636180101 3883 137000 sh 0 sole 0 137000
Nat'l City Corp com 635405103 601 16000 sh 0 sole 0 16000
Nat'l Grid Transco com 636274102 11906 248100 sh 0 sole 0 248100
Neurocrine Bioscience com 64125C109 666 13500 sh 0 sole 0 13500
New Century Fin. com 6435EV108 72315 1131518 sh 0 sole 0 1131518
New York Mortgage Trust com 649604105 15123 1350300 sh 0 sole 0 1350300
NewAlliance Banc com 650203102 8140 532000 sh 0 sole 0 532000
Nicor Inc com 654086107 4169 112850 sh 0 sole 0 112850
Nisource Inc com 65473P105 8997 394950 sh 0 sole 0 394950
NJ Resources com 646025106 2767 63850 sh 0 sole 0 63850
Nokia Corp com 654902204 292 18625 sh 0 sole 0 18625
North Fork Bcorp com 659424105 19867 688635 sh 0 sole 0 688635
Northeast Utilities com 664397106 676 35875 sh 0 sole 0 35875
Northwestern Corp com 668074305 755 26977 sh 0 sole 0 26977
Novartis adr 66987V109 1093 21620 sh 0 sole 0 21620
Novastar Fin'l com 669947400 881 17800 sh 0 sole 0 17800
Nstar com 67019E107 940 17325 sh 0 sole 0 17325
NW Natural Gas com 667655104 2583 76550 sh 0 sole 0 76550
NY Cmmty Banc com 649445103 4793 233020 sh 0 sole 0 233020
NY Mortgage Trst com 649604105 372 33200 sh 0 sole 0 33200
Oneok Inc com 682680103 4351 153100 sh 0 sole 0 153100
Otelco com 688823202 238 15000 sh 0 sole 0 15000
Pacific Premier com 69478X105 3176 239550 sh 0 sole 0 239550
Palomar Medical Tech. com 697529303 305 11700 sh 0 sole 0 11700
Pamrapo Bancorp com 697738102 740 29933 sh 0 sole 0 29933
Parkvale Fin'l com 701492100 7436 258288 sh 0 sole 0 258288
Partners Trust Finl com 70213F102 1632 140118 sh 0 sole 0 140118
Pennfed Fin'l com 708167101 1689 105032 sh 0 sole 0 105032
Peoples Bk-CT com 710198102 3597 92500 sh 0 sole 0 92500
Peoples Choice com 71085T105 32900 3500000 sh 0 sole 0 3500000
Peoples Energy com 711030106 3694 84050 sh 0 sole 0 84050
Pepco Holdings com 713291102 346 16241 sh 0 sole 0 16241
PFF Bancorp com 69331W104 20617 445000 sh 0 sole 0 445000
PFIZER INC com 717081103 1701 63240 sh 0 sole 0 63240
PG&E Corp com 69331C108 10596 318375 sh 0 sole 0 318375
Piedmont Nat Gas com 720186105 4750 204400 sh 0 sole 0 204400
PMI Group com 69344M101 585 14000 sh 0 sole 0 14000
PNM Resources com 69349H107 681 26925 sh 0 sole 0 26925
PPL Corp com 69351T106 486 9125 sh 0 sole 0 9125
ProCentury com 74268T108 10536 849700 sh 0 sole 0 849700
Protein Design Labs com 74369L103 480 23240 sh 0 sole 0 23240
Provident Finl com 74386T105 9104 470000 sh 0 sole 0 470000
Provident Sr Living Tr com 744053208 5328 333000 sh 0 sole 0 333000
Public Svc Ent Gp com 744573106 6857 132450 sh 0 sole 0 132450
Puget Energy com 745310102 1865 75500 sh 0 sole 0 75500
Quanta Capital com G7313F106 39537 4288172 sh 0 sole 0 4288172
Questar Corp com 748356102 5855 114900 sh 0 sole 0 114900
Quidel Corp. com 74838J101 490 96378 sh 0 sole 0 96378
Radian Group com 750236101 213 4000 sh 0 sole 0 4000
Redwood Trust com 758075402 1304 21000 sh 0 sole 0 21000
Regeneration Tech com 75886N100 609 58100 sh 0 sole 0 58100
Renovis com 759885106 679 47200 sh 0 sole 0 47200
Rigel Pharma com 766559603 1581 64732 sh 0 sole 0 64732
Saxon Capital com 80556T106 11683 487000 sh 0 sole 0 487000
Saxon Capital, Inc. com 80556T106 60088 2504713 sh 0 sole 0 2504713
SBC communication com 78387G103 293 11375 sh 0 sole 0 11375
Schering Plough com 806605101 1391 66600 sh 0 sole 0 66600
SEMCO Energy com 78412D109 412 77175 sh 0 sole 0 77175
Sierra Pac Res Hld com 826428104 115 10950 sh 0 sole 0 10950
SLM CORP com 78442P106 8327 155972 sh 0 sole 0 155972
Sony Corp ADR com 835699307 295 7575 sh 0 sole 0 7575
South Jersey Indu com 838518108 1781 33880 sh 0 sole 0 33880
Southern Union com 844030106 5798 241783 sh 0 sole 0 241783
Southwest Gas com 844895102 2551 100450 sh 0 sole 0 100450
Sovereign Bancorp com 845905108 17822 790327 sh 0 sole 0 790327
Specialty Underwriters com 9302066 11803 1242410 sh 0 sole 0 1242410
Spirit Financial com 848568309 316 25000 sh 0 sole 0 25000
St. Paul Travelers com 792860108 7486 201942 sh 0 sole 0 201942
StanCorp Finl com 852891100 8085 98000 sh 0 sole 0 98000
State Street com 857477103 10114 205899 sh 0 sole 0 205899
Sterling Fin'l com 859319105 26304 670000 sh 0 sole 0 670000
Sun Microsystems com 866810104 190 35200 sh 0 sole 0 35200
Suntrust Banks com 867914103 1995 27000 sh 0 sole 0 27000
SW Energy com 845467109 1035 20425 sh 0 sole 0 20425
Synovus Fin'l com 87161C105 1516 53037 sh 0 sole 0 53037
Taylor Capital com 876851106 13447 401409 sh 0 sole 0 401409
Teco Energy com 872375100 560 36475 sh 0 sole 0 36475
Teva Pharma com 881624209 1388 46480 sh 0 sole 0 46480
Texas Instruments com 882508104 294 11950 sh 0 sole 0 11950
TF Fin'l Corp com 872391107 2897 90523 sh 0 sole 0 90523
Thornburg Mtg com 885218107 10802 373000 sh 0 sole 0 373000
TierOne Corp com 88650R108 2291 92200 sh 0 sole 0 92200
Titan Pharma com 888314101 454 140950 sh 0 sole 0 140950
Tower Group Inc. com 9314065 6000 500000 sh 0 sole 0 500000
TransCanada com 89353D107 11915 479100 sh 0 sole 0 479100
TRM Corporation wts 872636105 289 71429 sh 0 sole 0 71429
UGI Corp com 902681105 1619 39575 sh 0 sole 0 39575
Unionbancal Corp com 908906100 1612 25000 sh 0 sole 0 25000
Vaxgen Inc. com 922390208 850 50000 sh 0 sole 0 50000
Vectren Corp com 92240G101 3026 112925 sh 0 sole 0 112925
VerticalNet (VERT) com 92532L206 2445 1518907 sh 0 sole 0 1518907
Wachovia Corp com 929903102 894 17000 sh 0 sole 0 17000
Wash Mutual Inc com 939322103 338 8000 sh 0 sole 0 8000
Washington Fed com 938824109 30510 1149600 sh 0 sole 0 1149600
Waypoint Bank com 946756103 9477 334291 sh 0 sole 0 334291
Webster Fin'l com 947890109 354 7000 sh 0 sole 0 7000
Westcorp Inc com 957907108 25886 563600 sh 0 sole 0 563600
WGL Holdings com 92924F106 3926 127300 sh 0 sole 0 127300
Williams comp com 969457100 6363 390600 sh 0 sole 0 390600
Wisconsin Energy com 976657106 1505 44650 sh 0 sole 0 44650
WPS Resources com 92931B106 651 13030 sh 0 sole 0 13030
WSFS Financial com 929328102 4481 74680 sh 0 sole 0 74680
Xcel Energy com 98389B100 2267 124550 sh 0 sole 0 124550
Yardville Nat'l com 985021104 12140 354362 sh 0 sole 0 354362
YM Biosciences com 984238105 397 113700 sh 0 sole 0 113700