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, 2008
Check here if Amendment ( ) Amendment Number:
This Amendment (Check only one.): ( ) is a restatement
( ) adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Friedman, Billings, Ramsey Group, Inc.
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: Kurt R. Harrington
Title: Ex. Vice President and Chief Financial Officer
Phone: 703-312-9647
Signature, Place, and Date of Signing:
/s/ Kurt R. Harrington
Kurt R. Harrington Arlington, VA February 13, 2009
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: 1
Form 13F Information Table Entry Total: 176
Form 13F Information Table Value Total: $ 878,420,000
List of Other Included Managers:
No: Name
1) FBR Fund Advisers, Inc.
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5
-------------------------- -------------- --------- --------- --------------
TITLE VALUE SHARES/ SH/PUT/
NAME OF ISSUER OF CLASS CUSIP (x$1000) PRN AMT PRNCALL
-------------------------------------------------------------------------------
1ST SOURCE CORP com 336901103 1721 72,849 sh
99 CENTS ONLY STORES com 65440K106 63301 5,791,474 sh
ABB Ltd adr 000375204 290 19,300 sh
ACTIVISION BLIZZARD INC com 00507V109 109 12,650 sh
ADVANTA CORP-CL B com-Cl B 007942204 167 80,000 sh
AMEREN CORPORATION com 023608102 802 24,125 sh
AMERICAN TOWER CORP-CL A com-Cl A 029912201 90130 3,074,000 sh
AMERICAN WOODMARK CORP com 030506109 15496 850,000 sh
AMERICREDIT CORP com 03060R101 10705 1,401,180 sh
ANNALY MORTGAGE MANAGEMENT com 035710409 1354 85,306 sh
ANWORTH MORTGAGE ASSET CORP com 037347101 2271 353,206 sh
ASTORIA FINANCIAL CORP com 046265104 2905 176,250 sh
ATMOS ENERGY CORP com 049560105 3961 167,150 sh
AVISTA CORP com 05379B107 373 19,225 sh
BALLY TECHNOLOGIES INC COM com 05874B107 38448 1,600,000 sh
BANCORP RHODE ISLAND INC com 059690107 1418 66,905 sh
BANK MONTREAL QUE com 063671101 206 8,000 sh
BANK MUTUAL CORP com 063750103 5164 447,492 sh
BANK OF AMERICA CORP com 060505104 704 50,000 sh
BANKFINANCIAL CORP com 06643P104 164 16,127 sh
BAXTER INTERNATIONAL INC com 071813109 240 4,480 sh
BERKSHIRE HATHAWAY INC-CL B com-Cl B 084670207 771 240 sh
BLACK HILLS CORP com 092113109 449 16,650 sh
BLACK ROCK INC dbcv 09247XAB7 1263 1,261,000 prn
BOSTON PRIVATE FINL HOLDINGS INCnote 101119AC9 1 2,000 prn
BOSTON PROPERTIES note 10112RAG9 2026 2,004,000 prn
BROOKLINE BANCORP INC com 11373M107 2396 225,000 sh
CAPE BANCORP INC com 139209100 1644 177,713 sh
CAPITOL FEDERAL FINANCIAL com 14057C106 1911 41,900 sh
CAPSTEAD MORTGAGE CORP com 14067E506 1968 182,700 sh
CARMAX INC com 143130102 24641 3,127,088 sh
CENTERPOINT ENERGY INC com 15189T107 3024 239,600 sh
CENTEX CORP. com 152312104 1011 95,000 sh
CENTURY ALUM CO note 156431AE8 1489 2,500,000 prn
CH ENERGY GROUP INC com 12541M102 337 6,550 sh
CHENIERE ENERGY INC COM NEW com 16411R208 232 81,550 sh
CHENIERE ENERGY INC COM NEW note 16411RAE9 3216 4,000,000 prn
CHESAPEAKE UTILITIES CORP com 165303108 295 9,365 sh
CHIMERA INVESTMENT CORP com 16934Q109 1518 440,000 sh
CITIGROUP INC com 172967101 86 12,800 sh
CMS ENERGY CORP com 125896100 1257 124,350 sh
COLONIAL BANCGROUP INC com 195493309 104 50,000 sh
COMERICA INC com 200340107 877 44,200 sh
CONSOLIDATED EDISON INC com 209115104 3265 83,875 sh
CONSTELLATION ENERGY GROUP com 210371100 496 19,750 sh
CORNING INC com 219350105 143 15,025 sh
DANVERS BANCORP INC com 236442109 6101 456,286 sh
DIME COMMUNITY BANCSHARES com 253922108 2480 186,464 sh
DOMINION RESOURCES INC/VA com 25746U109 9182 256,200 sh
DR HORTON INC com 23331A109 707 100,000 sh
DTE ENERGY COMPANY com 233331107 1535 43,025 sh
Duke Energy com 26441C105 1149 76,537 sh
DYNAMEX INC com 26784F103 10868 736,824 sh
DYNAVAX TECHNOLOGIES CORP com 268158102 58 69,444 sh
EBAY INC com 278642103 157 11,250 sh
EL PASO CORP com 28336L109 6163 787,050 sh
EMC CORP/MASS com 268648102 217 20,750 sh
ENBRIDGE INC com 29250N105 9049 278,685 sh
ENCORE CAPITAL GROUP com 292554102 4835 671,513 sh
ENERGEN CORP com 29265N108 1370 46,695 sh
ENSTAR GROUP LIMITED shs G3075P101 10166 171,895 sh
ENTERGY CORP com 29364G103 251 3,015 sh
EQUITABLE RESOURCES INC com 294549100 3170 94,500 sh
EVERGREEN SOLAR INC note 30033RAC2 804 1,000,000 prn
EXELON CORP com 30161N101 3577 64,325 sh
FBR CAPITAL MARKETS CORP com 30247C301 7348 1,512,001 sh
FIDELITY NTL FINANCIAL INC CL A com-Cl A 31620R105 355 20,000 sh
FIFTH THIRD BANCORP com 316773100 83 10,000 sh
FIRSTFED FINANCIAL CORP com 337907109 26 15,000 sh
FIRSTMERIT CORP com 337915102 1441 70,000 sh
Flagstone Reinsurance Hldg/fsr shs G3529T105 16301 1,668,525 sh
FLUSHING FINANCIAL CORP com 343873105 712 59,521 sh
FRANKLIN RESOURCES INC com 354613101 391 6,125 sh
FRIEDMAN BILLINGS RAMSEY-A com-Cl A 358434108 162 951,748 sh
GENENTECH INC com 368710406 245 2,950 sh
GOLDMAN SACHS GROUP INC com 38141G104 534 6,325 sh
GRUBB & ELLIS CO NEW com 400095204 587 473,116 sh
HANA BIOSCIENCES INC com 40963P105 22 93,551 sh
HFF INC CL A com-Cl A 40418F108 985 401,842 sh
HINGHAM INSTITUTION FOR SVGS com 433323102 2494 99,431 sh
HUDSON CITY BANCORP INC com 443683107 8373 524,625 sh
IBERIABANK CORP com 450828108 1200 25,000 sh
INDEPENDENT BANK CORP/MA com 453836108 3725 142,403 sh
Integrys Energy Group com 45822P105 2543 59,171 sh
INVESTORS BANCORP INC com 46146P102 1343 100,000 sh
Iron Mountain Inc/irm com 462846106 4531 183,200 sh
ISLE OF CAPRI CASINOS com 464592104 1779 555,943 sh
JPMORGAN CHASE & CO com 46625H100 363 11,500 sh
KEYCORP com 493267108 596 70,000 sh
LACLEDE GROUP INC/THE com 505597104 1712 36,550 sh
LAMAR ADVERTISING CO-CL A com-Cl A 512815101 22985 1,830,000 sh
LEHMAN BROTHERS HOLDINGS note 52523J453 0 1,000 prn
M & T BANK CORP com 55261F104 545 9,500 sh
MAIDEN HOLDINGS LTD shs G5753U112 457 146,042 sh
MARKEL CORP com 570535104 76395 255,500 sh
MARSHALL & ILSLEY CORP com 571837103 409 30,000 sh
MASTERCARD INC com-Cl A 57636Q104 214 1,500 sh
MDU RESOURCES GROUP INC com 552690109 2037 94,400 sh
METLIFE INC com 59156R108 551 15,800 sh
MFA MORTGAGE INVESTMENTS INC com 55272X102 386 65,556 sh
MGE ENERGY INC com 55277P104 220 6,678 sh
MIDDLEBROOK PHARMACEUTICALS com 596087106 364 242,855 sh
MONARCH CASINO & RESORT INC com 609027107 11557 992,000 sh
MORGAN STANLEY com 617446448 321 20,000 sh
NATIONAL FINANCIAL PARTNERS com 63607P208 106 35,000 sh
NATIONAL FUEL GAS CO com 636180101 2979 95,100 sh
NATIONAL GRID PLC SPON ADR NEW adr 636274300 9086 180,061 sh
NEW JERSEY RESOURCES CORP com 646025106 2221 56,450 sh
NEW YORK COMMUNITY BANCORP com 649445103 454 38,000 sh
NEWALLIANCE BANCSHARES INC com 650203102 1119 85,000 sh
NICOR INC com 654086107 2837 81,650 sh
NISOURCE INC com 65473P105 3464 315,750 sh
NORTHEAST UTILITIES com 664397106 602 25,000 sh
NORTHERN TRUST CORP com 665859104 521 10,000 sh
NORTHRIM BANCORP INC com 666762109 194 18,831 sh
NORTHWEST BANCORP INC com 667328108 1390 65,000 sh
NORTHWEST NATURAL GAS CO com 667655104 2247 50,800 sh
NORTHWESTERN CORP COM NEW com 668074305 537 21,376 sh
NSTAR com 67019E107 760 20,825 sh
NV ENERGY INC com 67073Y106 127 12,825 sh
O REILLY AUTOMOTIVE INC com 686091109 49863 1,622,076 sh
OCEANFIRST FINANCIAL CORP com 675234108 1114 67,119 sh
ONEOK INC com 682680103 3981 136,700 sh
P G & E CORP com 69331C108 7525 194,400 sh
PACIFIC PREMIER BANCORP INC com 69478X105 248 61,887 sh
PARKVALE FINANCIAL CORP com 701492100 2264 182,310 sh
PENN NATIONAL GAMING INC com 707569109 87684 4,101,225 sh
PEOPLES UTD FINL INC com 712704105 3530 197,975 sh
PEPCO HOLDINGS INC com 713291102 200 11,266 sh
PIEDMONT NATURAL GAS CO com 720186105 4559 143,950 sh
PINNACLE ENTERTAINMENT INC com 723456109 12452 1,621,407 sh
PLACER DOME INC dbcv 725906AK7 161 200,000 prn
PNC FINANCIAL SERVICES GROUP com 693475105 539 11,000 sh
PNM RESOURCES INC com 69349H107 225 22,325 sh
Pool Corp/pool com 73278L105 30998 1,725,000 sh
PROSHARES TR pshs
ultsh
20yrs 74347R297 566 15,000 sh
PROSHARES ULTRASHORT REALt pshs
real
estat 74347R552 558 11,000 sh
PROVIDENT FINANCIAL SERVICES com 74386T105 1524 99,600 sh
PRUDENTIAL FINANCIAL INC com 744320102 393 13,000 sh
PUBLIC SERVICE ENTERPRISE GP com 744573106 6257 214,500 sh
PUGET ENERGY INC com 745310102 1882 69,000 sh
QUESTAR CORP com 748356102 4436 135,713 sh
REDWOOD TRUST INC com 758075402 2050 137,514 sh
REGIONS FINANCIAL CORP com 7591EP100 398 50,000 sh
SEMPRA ENERGY COM com 816851109 9402 220,542 sh
SIMPSON MANUFACTURING CO INC com 829073105 22253 801,615 sh
SOUTH FINANCIAL GROUP INC com 837841105 259 60,000 sh
SOUTH JERSEY INDUSTRIES com 838518108 1963 49,260 sh
SOUTHERN UNION CO com 844030106 2414 185,157 sh
SOUTHWEST GAS CORP com 844895102 2078 82,400 sh
SPECTRA ENERGY CORP COM com 847560109 9088 577,368 sh
STATE BANCORP INC com 855716106 234 24,000 sh
STATE STREET CORP com 857477103 551 14,000 sh
SVB FINANCIAL GROUP com 78486Q101 491 18,700 sh
TCF FINANCIAL CORP com 872275102 1093 80,000 sh
TECO ENERGY INC com 872375100 584 47,275 sh
TEXAS CAPITAL BANCSHARES INC com 88224Q107 389 29,100 sh
TRANSCANADA CORP com 89353D107 8780 323,500 sh
Travelers Cos Inc com 89417E109 362 8,000 sh
UGI CORP com 902681105 1771 72,525 sh
ULTRASHORT FINANCIALS PROSHA pshs
ultsht
finl 74347R628 515 5,000 sh
UMB FINANCIAL CORP com 902788108 737 15,000 sh
US BANCORP com 902973304 275 11,000 sh
VECTREN CORPORATION com 92240G101 1267 50,655 sh
WASHINGTON FEDERAL INC com 938824109 2218 148,234 sh
WEBSTER FINANCIAL CORP com 947890109 2304 167,200 sh
WELLS FARGO & COMPANY com 949746101 286 9,700 sh
WGL HOLDINGS INC com 92924F106 2913 89,100 sh
WHITE RIVER CAPITAL INC com 96445P105 1125 173,137 sh
WILLIAMS COS INC com 969457100 4429 305,850 sh
WISCONSIN ENERGY CORP com 976657106 1135 27,025 sh
WSFS FINANCIAL CORP com 929328102 4296 89,523 sh
XCEL ENERGY INC com 98389B100 1935 104,300 sh
ZIONS BANCORPORATION com 989701107 613 25,000 sh
ZIOPHARM ONCOLOGY INC com 98973P101 95 163,930 sh
FRIEDMAN BILLINGS RAMSEY-A com-Cl A 358434108 38 221,303 sh
COLUMN 1 COLUMN 6 COLUMN 7 COLUMN 8
-------------------------- -------------- --------- --------- ------------
INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER DSCRETN MNGRS [SOLE] [SHARED] [NONE]
-----------------------------------------------------------------------------
1ST SOURCE CORP sh-defined 1 72849 0 0
99 CENTS ONLY STORES sh-defined 1 5791474 0 0
ABB Ltd sh-defined 1 19300 0 0
ACTIVISION BLIZZARD INC sh-defined 1 12650 0 0
ADVANTA CORP-CL B sh-defined 1 80000 0 0
AMEREN CORPORATION sh-defined 1 24125 0 0
AMERICAN TOWER CORP-CL A sh-defined 1 3074000 0 0
AMERICAN WOODMARK CORP sh-defined 1 850000 0 0
AMERICREDIT CORP sh-defined 1 1401180 0 0
ANNALY MORTGAGE MANAGEMENT sh-defined 1 85306 0 0
ANWORTH MORTGAGE ASSET CORP sh-defined 1 353206 0 0
ASTORIA FINANCIAL CORP sh-defined 1 176250 0 0
ATMOS ENERGY CORP sh-defined 1 167150 0 0
AVISTA CORP sh-defined 1 19225 0 0
BALLY TECHNOLOGIES INC COM sh-defined 1 1600000 0 0
BANCORP RHODE ISLAND INC sh-defined 1 66905 0 0
BANK MONTREAL QUE sh-defined 1 8000 0 0
BANK MUTUAL CORP sh-defined 1 447492 0 0
BANK OF AMERICA CORP sh-defined 1 50000 0 0
BANKFINANCIAL CORP sh-defined 1 16127 0 0
BAXTER INTERNATIONAL INC sh-defined 1 4480 0 0
BERKSHIRE HATHAWAY INC-CL B sh-defined 1 240 0 0
BLACK HILLS CORP sh-defined 1 16650 0 0
BLACK ROCK INC sh-defined 1 1261000 0 0
BOSTON PRIVATE FINL HOLDINGS INCsh-defined 1 2000 0 0
BOSTON PROPERTIES sh-defined 1 2004000 0 0
BROOKLINE BANCORP INC sh-defined 1 225000 0 0
CAPE BANCORP INC sh-defined 1 177713 0 0
CAPITOL FEDERAL FINANCIAL sh-defined 1 41900 0 0
CAPSTEAD MORTGAGE CORP sh-defined 1 182700 0 0
CARMAX INC sh-defined 1 3127088 0 0
CENTERPOINT ENERGY INC sh-defined 1 239600 0 0
CENTEX CORP. sh-defined 1 95000 0 0
CENTURY ALUM CO sh-defined 1 2500000 0 0
CH ENERGY GROUP INC sh-defined 1 6550 0 0
CHENIERE ENERGY INC COM NEW sh-defined 1 81550 0 0
CHENIERE ENERGY INC COM NEW sh-defined a 4000000 0 0
CHESAPEAKE UTILITIES CORP sh-defined 1 9365 0 0
CHIMERA INVESTMENT CORP sh-defined 1 440000 0 0
CITIGROUP INC sh-defined 1 12800 0 0
CMS ENERGY CORP sh-defined 1 124350 0 0
COLONIAL BANCGROUP INC sh-defined 1 50000 0 0
COMERICA INC sh-defined 1 44200 0 0
CONSOLIDATED EDISON INC sh-defined 1 83875 0 0
CONSTELLATION ENERGY GROUP sh-defined 1 19750 0 0
CORNING INC sh-defined 1 15025 0 0
DANVERS BANCORP INC sh-defined 1 456286 0 0
DIME COMMUNITY BANCSHARES sh-defined 1 186464 0 0
DOMINION RESOURCES INC/VA sh-defined 1 256200 0 0
DR HORTON INC sh-defined 1 100000 0 0
DTE ENERGY COMPANY sh-defined 1 43025 0 0
Duke Energy sh-defined 1 76537 0 0
DYNAMEX INC sh-defined 1 736824 0 0
DYNAVAX TECHNOLOGIES CORP sh-defined 1 69444 0 0
EBAY INC sh-defined 1 11250 0 0
EL PASO CORP sh-defined 1 787050 0 0
EMC CORP/MASS sh-defined 1 20750 0 0
ENBRIDGE INC sh-defined 1 278685 0 0
ENCORE CAPITAL GROUP sh-defined 1 671513 0 0
ENERGEN CORP sh-defined 1 46695 0 0
ENSTAR GROUP LIMITED sh-defined 1 171895 0 0
ENTERGY CORP sh-defined 1 3015 0 0
EQUITABLE RESOURCES INC sh-defined 1 94500 0 0
EVERGREEN SOLAR INC sh-defined 1 1000000 0 0
EXELON CORP sh-defined 1 64325 0 0
FBR CAPITAL MARKETS CORP sh-defined 1 1512001 0 0
FIDELITY NTL FINANCIAL INC CL A sh-defined 1 20000 0 0
FIFTH THIRD BANCORP sh-defined 1 10000 0 0
FIRSTFED FINANCIAL CORP sh-defined 1 15000 0 0
FIRSTMERIT CORP sh-defined 1 70000 0 0
Flagstone Reinsurance Hldg/fsr sh-defined 1 1668525 0 0
FLUSHING FINANCIAL CORP sh-defined 1 59521 0 0
FRANKLIN RESOURCES INC sh-defined 1 6125 0 0
FRIEDMAN BILLINGS RAMSEY-A sh-defined 1 951748 0 0
GENENTECH INC sh-defined 1 2950 0 0
GOLDMAN SACHS GROUP INC sh-defined 1 6325 0 0
GRUBB & ELLIS CO NEW sh-defined 1 473116 0 0
HANA BIOSCIENCES INC sh-defined 1 93551 0 0
HFF INC CL A sh-defined 1 401842 0 0
HINGHAM INSTITUTION FOR SVGS sh-defined 1 99431 0 0
HUDSON CITY BANCORP INC sh-defined 1 524625 0 0
IBERIABANK CORP sh-defined 1 25000 0 0
INDEPENDENT BANK CORP/MA sh-defined 1 142403 0 0
Integrys Energy Group sh-defined 1 59171 0 0
INVESTORS BANCORP INC sh-defined 1 100000 0 0
Iron Mountain Inc/irm sh-defined 1 183200 0 0
ISLE OF CAPRI CASINOS sh-defined 1 555943 0 0
JPMORGAN CHASE & CO sh-defined 1 11500 0 0
KEYCORP sh-defined 1 70000 0 0
LACLEDE GROUP INC/THE sh-defined 1 36550 0 0
LAMAR ADVERTISING CO-CL A sh-defined 1 1830000 0 0
LEHMAN BROTHERS HOLDINGS sh-defined 1 1000 0 0
M & T BANK CORP sh-defined 1 9500 0 0
MAIDEN HOLDINGS LTD sh-defined 1 146042 0 0
MARKEL CORP sh-defined 1 255500 0 0
MARSHALL & ILSLEY CORP sh-defined 1 30000 0 0
MASTERCARD INC sh-defined 1 1500 0 0
MDU RESOURCES GROUP INC sh-defined 1 94400 0 0
METLIFE INC sh-defined 1 15800 0 0
MFA MORTGAGE INVESTMENTS INC sh-defined 1 65556 0 0
MGE ENERGY INC sh-defined 1 6678 0 0
MIDDLEBROOK PHARMACEUTICALS sh-defined 1 242855 0 0
MONARCH CASINO & RESORT INC sh-defined 1 992000 0 0
MORGAN STANLEY sh-defined 1 20000 0 0
NATIONAL FINANCIAL PARTNERS sh-defined 1 35000 0 0
NATIONAL FUEL GAS CO sh-defined 1 95100 0 0
NATIONAL GRID PLC SPON ADR NEW sh-defined 1 180061 0 0
NEW JERSEY RESOURCES CORP sh-defined 1 56450 0 0
NEW YORK COMMUNITY BANCORP sh-defined 1 38000 0 0
NEWALLIANCE BANCSHARES INC sh-defined 1 85000 0 0
NICOR INC sh-defined 1 81650 0 0
NISOURCE INC sh-defined 1 315750 0 0
NORTHEAST UTILITIES sh-defined 1 25000 0 0
NORTHERN TRUST CORP sh-defined 1 10000 0 0
NORTHRIM BANCORP INC sh-defined 1 18831 0 0
NORTHWEST BANCORP INC sh-defined 1 65000 0 0
NORTHWEST NATURAL GAS CO sh-defined 1 50800 0 0
NORTHWESTERN CORP COM NEW sh-defined 1 21376 0 0
NSTAR sh-defined 1 20825 0 0
NV ENERGY INC sh-defined 1 12825 0 0
O REILLY AUTOMOTIVE INC sh-defined 1 1622076 0 0
OCEANFIRST FINANCIAL CORP sh-defined 1 67119 0 0
ONEOK INC sh-defined 1 136700 0 0
P G & E CORP sh-defined 1 194400 0 0
PACIFIC PREMIER BANCORP INC sh-defined 1 61887 0 0
PARKVALE FINANCIAL CORP sh-defined 1 182310 0 0
PENN NATIONAL GAMING INC sh-defined 1 4101225 0 0
PEOPLES UTD FINL INC sh-defined 1 197975 0 0
PEPCO HOLDINGS INC sh-defined 1 11266 0 0
PIEDMONT NATURAL GAS CO sh-defined 1 143950 0 0
PINNACLE ENTERTAINMENT INC sh-defined 1 1621407 0 0
PLACER DOME INC sh-defined 1 200000 0 0
PNC FINANCIAL SERVICES GROUP sh-defined 1 11000 0 0
PNM RESOURCES INC sh-defined 1 22325 0 0
Pool Corp/pool sh-defined 1 1725000 0 0
PROSHARES TR sh-defined 1 15000 0 0
PROSHARES ULTRASHORT REALt sh-defined 1 11000 0 0
PROVIDENT FINANCIAL SERVICES sh-defined 1 99600 0 0
PRUDENTIAL FINANCIAL INC sh-defined 1 13000 0 0
PUBLIC SERVICE ENTERPRISE GP sh-defined 1 214500 0 0
PUGET ENERGY INC sh-defined 1 69000 0 0
QUESTAR CORP sh-defined 1 135713 0 0
REDWOOD TRUST INC sh-defined 1 137514 0 0
REGIONS FINANCIAL CORP sh-defined 1 50000 0 0
SEMPRA ENERGY COM sh-defined 1 220542 0 0
SIMPSON MANUFACTURING CO INC sh-defined 1 801615 0 0
SOUTH FINANCIAL GROUP INC sh-defined 1 60000 0 0
SOUTH JERSEY INDUSTRIES sh-defined 1 49260 0 0
SOUTHERN UNION CO sh-defined 1 185157 0 0
SOUTHWEST GAS CORP sh-defined 1 82400 0 0
SPECTRA ENERGY CORP COM sh-defined 1 577368 0 0
STATE BANCORP INC sh-defined 1 24000 0 0
STATE STREET CORP sh-defined 1 14000 0 0
SVB FINANCIAL GROUP sh-defined 1 18700 0 0
TCF FINANCIAL CORP sh-defined 1 80000 0 0
TECO ENERGY INC sh-defined 1 47275 0 0
TEXAS CAPITAL BANCSHARES INC sh-defined 1 29100 0 0
TRANSCANADA CORP sh-defined 1 323500 0 0
Travelers Cos Inc sh-defined 1 8000 0 0
UGI CORP sh-defined 1 72525 0 0
ULTRASHORT FINANCIALS PROSHA sh-defined 1 5000 0 0
UMB FINANCIAL CORP sh-defined 1 15000 0 0
US BANCORP sh-defined 1 11000 0 0
VECTREN CORPORATION sh-defined 1 50655 0 0
WASHINGTON FEDERAL INC sh-defined 1 148234 0 0
WEBSTER FINANCIAL CORP sh-defined 1 167200 0 0
WELLS FARGO & COMPANY sh-defined 1 9700 0 0
WGL HOLDINGS INC sh-defined 1 89100 0 0
WHITE RIVER CAPITAL INC sh-defined 1 173137 0 0
WILLIAMS COS INC sh-defined 1 305850 0 0
WISCONSIN ENERGY CORP sh-defined 1 27025 0 0
WSFS FINANCIAL CORP sh-defined 1 89523 0 0
XCEL ENERGY INC sh-defined 1 104300 0 0
ZIONS BANCORPORATION sh-defined 1 25000 0 0
ZIOPHARM ONCOLOGY INC sh-defined 1 163930 0 0
FRIEDMAN BILLINGS RAMSEY-A sh-defined 221303 0 0