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: June 30, 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: Robert Kiernan
Title: Sr. Vice President and Controller
Phone: 703-469-1120
Signature, Place, and Date of Signing:
Robert Kiernan Arlington, VA August 8, 2008
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: 5
Form 13F Information Table Entry Total: 72,986,289
Form 13F Information Table Value Total: $1,415,240,728
List of Other Included Managers:
No: Name
1) Friedman Billings Ramsey & Co., Inc.
2) FBR Investment Mangement, Inc.
3) FBR Fund Adviser, Inc.
4) FBR Group, Inc.
5) FBR Capital Markets Coporation
Name of Issuer Tit- Cusip Value Prn Sh Put Inv. Oth Sole
le x1000 Amt. prn cal Disc Mgr Mgr
3M Company com 88579Y101 597 8585 sh 0 sole 0 8585
99 Cents Only Stores com 65440K106 38224 5791474 sh 0 sole 0 5791474
Abb Ltd com 000375204 425 15000 sh 0 sole 0 15000
Abington Bancorp com 00350L109 355 38966 sh 0 sole 0 38966
Agl Resources Inc com 001204106 4397 127150 sh 0 sole 0 127150
Alimentation Couche Sub com 01626P403 22815 1700000 sh 0 sole 0 1700000
Alliant Energy Corp com 018802108 924 26975 sh 0 sole 0 26975
Amazon.Com Inc com 023135106 246 3350 sh 0 sole 0 3350
Ameren Corporation com 023608102 1230 29125 sh 0 sole 0 29125
Amer Equity Invt Life com 025676206 82 10055 sh 0 sole 0 10055
American Tower Corp-Cl A com 029912201 173532 4107256 sh 0 sole 0 4107256
American Woodmark Corp com 030506109 19017 900000 sh 0 sole 0 900000
Americredit Corp com 03060R101 12499 1450000 sh 0 sole 0 1450000
Annaly Mortgage Mgmt. com 035710409 8619 555706 sh 0 sole 0 555706
Anworth Mortgage Asset com 037347101 6445 990006 sh 0 sole 0 990006
Apple Computer Inc com 037833100 660 3940 sh 0 sole 0 3940
Aquila Inc com 03840P102 630 167050 sh 0 sole 0 167050
Asset Capital Corp. com 04544C108 5849 1231397 sh 0 sole 0 1231397
Astoria Financial Corp com 046265104 3462 172400 sh 0 sole 0 172400
Atmos Energy Corp com 049560105 5187 188150 sh 0 sole 0 188150
Au Optronics Corp-Adr com 002255107 188 11900 sh 0 sole 0 11900
Avista Corp com 05379B107 480 22375 sh 0 sole 0 22375
B F Saul com 055411AE2 21098 215000 sh 0 sole 0 215000
Bally Tech com 05874B107 54080 1600000 sh 0 sole 0 1600000
Bancorp Rhode Island Inc com 059690107 1434 50209 sh 0 sole 0 50209
Bank Mutual Corp com 063750103 3463 344895 sh 0 sole 0 344895
Banner Corporation com 06652V109 91 10260 sh 0 sole 0 10260
Baxter International Inc com 071813109 348 5450 sh 0 sole 0 5450
Becton Dickinson & Co com 075887109 274 3375 sh 0 sole 0 3375
Berkshire Hathaway A com 084670108 2053 17 sh 0 sole 0 17
Berkshire Hathaway B com 084670207 321 80 sh 0 sole 0 80
Burl. North Santa Fe com 12189T104 237 2375 sh 0 sole 0 2375
Canon Inc-Spons Adr com 138006309 205 4000 sh 0 sole 0 4000
Cape Bancorp Inc com 139209100 1075 110252 sh 0 sole 0 110252
Capitol Federal Fin'l com 14057C106 2453 65223 sh 0 sole 0 65223
Capstead Mortgage Corp com 14067E506 5888 542700 sh 0 sole 0 542700
Carmax Inc com 143130102 43421 3060000 sh 0 sole 0 3060000
Castlepoint Holding Ltd com G19522112 4546 500083 sh 0 sole 0 500083
Cathay General Bancorp com 149150104 1141 104998 sh 0 sole 0 104998
Celgene Corp com 151020104 211 3300 sh 0 sole 0 3300
Centerpoint Energy Inc com 15189T107 4313 268700 sh 0 sole 0 268700
Ch Energy Group Inc com 12541M102 256 7200 sh 0 sole 0 7200
Cheniere Energy Inc com 16411R208 334 76500 sh 0 sole 0 76500
Chesapeake Utilities com 165303108 310 12065 sh 0 sole 0 12065
Chevy Chase Bank com 166779AA6 4523 50000 sh 0 sole 0 50000
Chimera Investment Corp com 16934Q109 1622 180000 sh 0 sole 0 180000
Citigroup Inc com 172967101 168 10000 sh 0 sole 0 10000
Cmet Finance Holdings com 189758204 987 71773 sh 0 sole 0 71773
Cms Energy Corp com 125896100 1933 129750 sh 0 sole 0 129750
Coca-Cola Co/The com 191216100 208 4000 sh 0 sole 0 4000
Colonial Bancgroup Inc com 195493309 199 45000 sh 0 sole 0 45000
Compton Petroleum Corp com 204940100 149 11700 sh 0 sole 0 11700
Comverse Technology Inc com 205862402 392 23120 sh 0 sole 0 23120
Consolidated Edison Inc com 209115104 3818 97675 sh 0 sole 0 97675
Constellation Energy com 210371100 1843 22450 sh 0 sole 0 22450
Corning Inc com 219350105 333 14450 sh 0 sole 0 14450
Csk Auto Corp com 125965103 26919 2568614 sh 0 sole 0 2568614
Cummins Inc Com com 231021106 420 6405 sh 0 sole 0 6405
D.R. Horton Inc com 23331AAD1 2000 20000 sh 0 sole 0 20000
Danvers Bancorp Inc com 236442109 2050 186402 sh 0 sole 0 186402
Datapath Inc com 23808R106 214 107165 sh 0 sole 0 107165
Divx Inc com 255413106 99 13478 sh 0 sole 0 13478
Dominion Resources com 25746U109 10514 221400 sh 0 sole 0 221400
Dover Motorsports Inc com 260174107 1735 340946 sh 0 sole 0 340946
Downey Financial Corp com 261018105 97 35000 sh 0 sole 0 35000
Dr Horton Inc com 23331A109 157 14500 sh 0 sole 0 14500
Dte Energy Company com 233331107 2051 48325 sh 0 sole 0 48325
Duke Energy com 26441C105 1608 92537 sh 0 sole 0 92537
Dynamex Inc com 26784F103 16049 598610 sh 0 sole 0 598610
Dynavax Technologies com 268158102 101 69444 sh 0 sole 0 69444
E.On Ag -Sponsored Adr com 268780103 13811 206140 sh 0 sole 0 206140
East West Bancorp Inc com 27579R104 424 60000 sh 0 sole 0 60000
Ebay Inc com 278642103 238 8700 sh 0 sole 0 8700
El Paso Corp com 28336L109 14126 649750 sh 0 sole 0 649750
Ellora Energy Inc com 28905P101 5963 496916 sh 0 sole 0 496916
Emc Corp/Mass com 268648102 272 18550 sh 0 sole 0 18550
Enbridge Inc com 29250N105 13524 313210 sh 0 sole 0 313210
Encore Capital Group com 292554102 6181 700000 sh 0 sole 0 700000
Energen Corp com 29265N108 4535 58125 sh 0 sole 0 58125
Energy East Corporation com 29266M109 3127 126509 sh 0 sole 0 126509
Energysouth Inc com 292970100 885 18039 sh 0 sole 0 18039
Enstar Group Limited shs G3075P101 13125 150000 sh 0 sole 0 150000
Equitable Resources Inc com 294549100 8705 126050 sh 0 sole 0 126050
Exelon Corp com 30161N101 6857 76225 sh 0 sole 0 76225
Fbr Capital Markets Corp com 30247C301 252 50001 sh 0 sole 0 50001
Fifth Third Bancorp com 316773100 173 17000 sh 0 sole 0 17000
First Horizon National com 320517105 334 45000 sh 0 sole 0 45000
Firstfed Financial Corp com 337907109 247 30700 sh 0 sole 0 30700
Flagstone Reinsurance shs G3529T105 19695 1670525 sh 0 sole 0 1670525
Focus Enhancements Int wts 344159FF9 0 13840 sh 0 sole 0 13840
Ford Motor Credit Co Llc com 345397TS2 821 10000 sh 0 sole 0 10000
FBR Cl. A com 358434108 332 221628 sh 0 sole 0 221628
Genentech Inc com 368710406 474 6250 sh 0 sole 0 6250
General Dynamics Corp com 369550108 248 2950 sh 0 sole 0 2950
Google Inc com 38259P508 419 795 sh 0 sole 0 795
Grubb & Ellis Co New com 400095204 1821 473116 sh 0 sole 0 473116
Hana Biosciences Inc com 40963P105 67 93551 sh 0 sole 0 93551
Hartford Finl Svcs Group com 416515104 266 4119 sh 0 sole 0 4119
Hatteras Financial Corp com 41902R103 378 16450 sh 0 sole 0 16450
Henry Jack & Associates com 426281101 221 10200 sh 0 sole 0 10200
Hff Inc Cl A com 40418F108 5017 881700 sh 0 sole 0 881700
Hilltop Holdings Inc com 432748101 6232 604425 sh 0 sole 0 604425
Hingham Instit For Svgs com 433323102 2867 97969 sh 0 sole 0 97969
Hmn Financial Inc com 40424G108 379 24473 sh 0 sole 0 24473
Hudson City Bancorp Inc com 443683107 14945 896006 sh 0 sole 0 896006
Infosys Technologies-Sp com 456788108 224 5150 sh 0 sole 0 5150
Ing Groep Nv com 456837509 3560 200000 sh 0 sole 0 200000
Integrys Energy Group com 45822P105 1762 34671 sh 0 sole 0 34671
Intel Corp com 458140100 551 25650 sh 0 sole 0 25650
Intl Assets Holding Corp com 459028106 336 11176 sh 0 sole 0 11176
Investors Bancorp Inc com 46146P102 980 75000 sh 0 sole 0 75000
Iron Mountain Inc/Irm com 462846106 4864 183200 sh 0 sole 0 183200
Isle Of Capri Casinos com 464592104 2663 555943 sh 0 sole 0 555943
Istar Financial com 45031UAB7 498 5000 sh 0 sole 0 5000
Johnson Ctls Inc com 478366107 227 7900 sh 0 sole 0 7900
Kenetic Concepts Inc Com com 49460W208 250 6275 sh 0 sole 0 6275
Keycorp com 493267108 231 21000 sh 0 sole 0 21000
Knight Transportation com 499064103 7922 432900 sh 0 sole 0 432900
Koninklijke Philip Elec com 500472303 228 6750 sh 0 sole 0 6750
Laclede Group Inc/The com 505597104 1681 41650 sh 0 sole 0 41650
Lamar Advertising A com 512815101 43236 1200000 sh 0 sole 0 1200000
Lennar com 526057104 617 50000 sh 0 sole 0 50000
LG Display Co. com 50186V102 232 12400 sh 0 sole 0 12400
Lundin Mining Corp com 550372106 63 10300 sh 0 sole 0 10300
Maiden Holdings Ltd shs G5753U112 247 38633 sh 0 sole 0 38633
Maiden Holdings Ltd com 560292104 1168 145946 sh 0 sole 0 145946
Markel Corp com 570535104 93732 255400 sh 0 sole 0 255400
Market Vectors Agribus. com 57060U605 434 7000 sh 0 sole 0 7000
Markwest Energy Partners com 570759100 27017 758033 sh 0 sole 0 758033
Marshall & Ilsley Corp com 571837103 153 10000 sh 0 sole 0 10000
Marvell Technology Group com G5876H105 617 34925 sh 0 sole 0 34925
Mastercard Inc com 57636Q104 212 800 sh 0 sole 0 800
Mdu Resources Group Inc com 552690109 3238 92900 sh 0 sole 0 92900
Merck & Company Inc com 589331107 249 6600 sh 0 sole 0 6600
Mfa Mortgage Investments com 55272X102 5247 804806 sh 0 sole 0 804806
Mge Energy Inc com 55277P104 283 8678 sh 0 sole 0 8678
Middlebrook Pharma com 596087106 821 242855 sh 0 sole 0 242855
Monarch Casino & Resort com 609027107 11706 992000 sh 0 sole 0 992000
Motorola Inc com 620076109 109 14900 sh 0 sole 0 14900
National City Corp com 635405103 315 66000 sh 0 sole 0 66000
National Fuel Gas Co com 636180101 6674 112200 sh 0 sole 0 112200
Nat'l Grid Plc Spon com 636274300 13836 209734 sh 0 sole 0 209734
Nations Instit Reserves com 19765K530 4582 3551743 sh 0 sole 0 3551743
New Jersey Resources com 646025106 2029 62150 sh 0 sole 0 62150
New York Mortgage Trust com 649604501 0 24630 sh 0 sole 0 24630
Nicor Inc com 654086107 4014 94250 sh 0 sole 0 94250
Nisource Inc com 65473P105 6348 354250 sh 0 sole 0 354250
Northeast Utilities com 664397106 682 26700 sh 0 sole 0 26700
Northwest Natural Gas Co com 667655104 2752 59500 sh 0 sole 0 59500
Northwestern Corp Com com 668074305 718 28916 sh 0 sole 0 28916
Novartis Ag-Adr com 66987V109 379 6880 sh 0 sole 0 6880
Novo Nordish com 670100205 259 3920 sh 0 sole 0 3920
Nstar com 67019E107 0 24775 sh 0 sole 0 24775
O Reilly Automotive Inc com 686091109 38474 1721425 sh 0 sole 0 1721425
Oneok Inc com 682680103 5352 109600 sh 0 sole 0 109600
Orion Marine Group Inc com 68628V308 397 28081 sh 0 sole 0 28081
Oritani Financial Corp com 686323106 396 24752 sh 0 sole 0 24752
P G & E Corp com 69331C108 8565 215800 sh 0 sole 0 215800
Pacific Premier Bancorp com 69478X105 311 60384 sh 0 sole 0 60384
Pacwest Bancorp com 695263103 149 10000 sh 0 sole 0 10000
Paetec Holding Corp com 695459107 95 15000 sh 0 sole 0 15000
Parkvale Financial Corp com 701492100 4442 188120 sh 0 sole 0 188120
Peabody Energy Corp com 704549104 449 5100 sh 0 sole 0 5100
Penn National Gaming Inc com 707569109 131815 4100000 sh 0 sole 0 4100000
Penn Virginia Corp com 707882106 31948 423600 sh 0 sole 0 423600
Peoples Choice Finl Corp com 71085T105 0 4255550 sh 0 sole 0 4255550
Peoples Utd Finl Inc com 712704105 3184 204125 sh 0 sole 0 204125
Pepco Holdings Inc com 713291102 351 13666 sh 0 sole 0 13666
Peyto Energy Trust com 717045108 25687 1300000 sh 0 sole 0 1300000
Piedmont Natural Gas Co com 720186105 4209 160900 sh 0 sole 0 160900
Pinnacle Entertainment com 723456109 17009 1621407 sh 0 sole 0 1621407
Pnm Resources Inc com 69349H107 236 19725 sh 0 sole 0 19725
Pool Corp/Pool com 73278L105 30636 1725000 sh 0 sole 0 1725000
Powershares Db Comm com 73935S105 896 20000 sh 0 sole 0 20000
Ppl Corporation com 69351T106 855 16350 sh 0 sole 0 16350
Protalex Inc com 743642100 70 100000 sh 0 sole 0 100000
Public Service Ent com 744573106 10996 239400 sh 0 sole 0 239400
Puget Energy Inc com 745310102 1874 78100 sh 0 sole 0 78100
Pulte Homes Inc com 745867101 183 19000 sh 0 sole 0 19000
Quanta Cap Holdings com 74763S209 419 158718 sh 0 sole 0 158718
Questar Corp com 748356102 11350 159775 sh 0 sole 0 159775
Redwood Trust Inc com 758075402 695 30500 sh 0 sole 0 30500
Research In Motion Ltd com 760975102 460 3935 sh 0 sole 0 3935
Sempra Energy Com com 816851109 13941 246967 sh 0 sole 0 246967
Sierra Pacific Resources com 826428104 214 16825 sh 0 sole 0 16825
Simpson Manufacturing com 829073105 21443 903250 sh 0 sole 0 903250
Sony Corp-Sponsored Adr com 835699307 293 6700 sh 0 sole 0 6700
South Financial Group com 837841105 608 155000 sh 0 sole 0 155000
South Jersey Industries com 838518108 1779 47610 sh 0 sole 0 47610
Southern First Bcs com 842873101 165 14392 sh 0 sole 0 14392
Southern Union Co com 844030106 5460 202057 sh 0 sole 0 202057
Southwest Gas Corp com 844895102 2768 93100 sh 0 sole 0 93100
Southwestern Energy Co com 845467109 3199 67200 sh 0 sole 0 67200
Sovereign Bancorp Inc com 845905108 80 10900 sh 0 sole 0 10900
Spectra Energy Corp Com com 847560109 14089 490218 sh 0 sole 0 490218
Standard Pacific Corp com 85375C101 338 100000 sh 0 sole 0 100000
Sterling Finl Spokan com 859319105 352 85000 sh 0 sole 0 85000
Stryker Corp com 863667101 255 4050 sh 0 sole 0 4050
Sybase Inc com 871130100 202 6850 sh 0 sole 0 6850
Synovus Financial Corp com 87161C105 201 23000 sh 0 sole 0 23000
T Rowe Price Group Inc com 74144T108 314 5562 sh 0 sole 0 5562
Taylor Capital Group Inc com 876851106 669 89271 sh 0 sole 0 89271
Techne Corp com 878377100 300 3880 sh 0 sole 0 3880
Teco Energy Inc com 872375100 1160 53975 sh 0 sole 0 53975
Tf Financial Corp com 872391107 753 35017 sh 0 sole 0 35017
Thornburg Mortgage Inc wts no cusip 3 565508 sh 0 sole 0 565508
Toll Brothers Inc com 889478103 11238 600000 sh 0 sole 0 600000
Tower Group Inc com 891777104 1361 64244 sh 0 sole 0 64244
Transcanada Corp com 89353D107 13827 356650 sh 0 sole 0 356650
Ucbh Holdings Inc com 90262T308 293 130000 sh 0 sole 0 130000
Ugi Corp com 902681105 2039 71025 sh 0 sole 0 71025
United Cmnty Finl Ohio com 909839102 173 46177 sh 0 sole 0 46177
Untd Com Bks Blairsville com 90984P105 170 19965 sh 0 sole 0 19965
Vanguard Materials Etf com 92204A801 450 5000 sh 0 sole 0 5000
Vectren Corporation com 92240G101 2291 73405 sh 0 sole 0 73405
Vestas Wind Systems Adr com 925458101 255 5775 sh 0 sole 0 5775
Vintage Wine Trust Inc com 92746P209 7327 1221173 sh 0 sole 0 1221173
Visa Inc-Class A Shares com 92826C839 455 5600 sh 0 sole 0 5600
Washington Federal Inc com 938824109 5620 310484 sh 0 sole 0 310484
Weatherford Intl Ltd com G95089101 304 6125 sh 0 sole 0 6125
Webster Financial Corp com 947890109 1674 90000 sh 0 sole 0 90000
Wgl Holdings Inc com 92924F106 3436 98900 sh 0 sole 0 98900
White River Capital Inc com 96445P105 2920 190837 sh 0 sole 0 190837
Williams Cos Inc com 969457100 13685 339500 sh 0 sole 0 339500
Wilmington Trust Corp com 971807102 661 25000 sh 0 sole 0 25000
Wisconsin Energy Corp com 976657106 1394 30825 sh 0 sole 0 30825
Wrigley Wm Jr Co com 982526105 288 3700 sh 0 sole 0 3700
Wsfs Financial Corp com 929328102 4035 90463 sh 0 sole 0 90463
Wyeth com 983024100 293 6100 sh 0 sole 0 6100
Xcel Energy Inc com 98389B100 2099 104600 sh 0 sole 0 104600
Ziopharm Oncology wts 8855803 0 49179 sh 0 sole 0 49179
Ziopharm Oncology Inc com 98973P101 352 163930 sh 0 sole 0 163930