\par \plain\f4\fs20 UNITED STATES
\par SECURITIES AND EXCHANGE COMMISSION
\par Washington, D.C. 20549
\par
\par Form 13F
\par
\par Form 13F Cover Page
\par
\par Report for the Calendar Year or Quarter Ended: June 30, 2000
\par
\par Check here if Amendment \tab (x)Amendment Number: 1
\par This Amendment (Check only one.): (x) is a restatement
\par \tab \tab \tab \tab ( ) adds new holdings entries.
\par
\par Institutional Investment Manager Filing this Report:
\par
\par Name:\tab \tab Friedman, Billings, Ramsey Investment Management
\par Address:\tab 1001 19\plain\f4\fs13\up10 th\plain\f4\fs20 Street North
\par \tab \tab Potomac Tower
\par \tab \tab Arlington, VA 22209
\par
\par 13F File Number: 28-5254
\par
\par The Institutional investment manager filing this report and the person by
\par whom it is Signed hereby represent that the person signing the report is
\par authorized to submit it, That all the information contained herein is true,
\par correct and complete, and that it is understood that all required items,
\par statements, schedules, lists, and tables, are considered integral parts of
\par this form.
\par
\par Person signing this Report on Behalf of Reporting Manager:
\par
\par Name:\tab Nicholas J. Nichols
\par Title:\tab EVP and Chief Compliance Officer
\par Phone: \tab 703-312-9500
\par Signature, Place, and Date of Signing:
\par
\par Nicholas J. Nichols\tab Arlington, VA\tab August 14, 2000
\par
\par Report Type (Check only one.):
\par
\par \pard\li720\fi-720\plain\f4\fs20 (X)\tab 13F HOLDINGS REPORT
\par \pard\plain\f4\fs20 ( )\tab 13F NOTICE.
\par ( )\tab 13F COMBINATION REPORT
\par
\par List of Other Managers Reporting for this Manager:
\par
\par
\par I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934
\par \plain\f5\fs20
\par
\par FORM 13F SUMMARY PAGE
\par Report Summary:
\par
\par Number of Other Included Managers: 3
\par
\par Form 13F Information Table Entry Total: 25,789,063
\par
\par Form 13F Information Table Value Total: $ 955,691,000
\par
\par List of Other Included Managers:
\par
\par No: 13F File Number\tab Name
\par
\par 01 Friedman Billings Ramsey & Co.
\par 02 Friedman Billings Ramsey Investment management Inc.
\par 03 FBR Fund Advisers, Inc.
\par 04 FBR Venture Capital Managers, Inc.
\par
\par
\par Name of Issuer Tit Cusip Value Prn Sh Put/ Inv. Oth Sole
\par x1000 Amt Call Disc Mgr Mgr.
\par
\par Aether Systems com 00808V105 187362 913960 sh sole 0 913960
\par Altiva Financial Pre 021497300 36 387348 sh sole 0 387348
\par Amer Tower Corp com 029912201 1163 27900 sh sole 0 27900
\par American Finl Hds com 026075101 826 52000 sh sole 0 52000
\par American Home Mort. com 02660M108 55 12000 sh sole 0 12000
\par American Nat'l Can com 027714104 506 30000 sh sole 0 30000
\par Amsouth Bcorp com 032165102 221 14000 sh sole 0 14000
\par Anthracite Capital com 037023108 11271 1581846 sh sole 0 1581846
\par Appnet, Inc. com 03831Q101 371 10300 sh sole 0 10300
\par Astoria Financial com 046265104 1597 62000 sh sole 0 62000
\par Atlas Pipeline Part. com 049392103 2334 169000 sh sole 0 169000
\par Axent Technologies com 05459C108 744 30000 sh sole 0 30000
\par Banc One com 06423A103 584 22000 sh sole 0 22000
\par Bank North Gp com 06646R107 822 53700 sh sole 0 53700
\par Bank of America com 060505104 946 22000 sh sole 0 22000
\par Bank of New York com 064057102 279 6000 sh sole 0 6000
\par Bank Plus Corp. com 064446107 463 152750 sh sole 0 152750
\par Bank Pls Cp. Sr 7/07 pfr 064446AA5 188 250000 sh sole 0 250000
\par Bankamerica Corp. com 060505104 4945 115000 sh sole 0 115000
\par BankAtlantic Bancorp com 065908105 223 38000 sh sole 0 38000
\par BankAtlantic Bancorp com 065908501 194 51750 sh sole 0 51750
\par Banyan Hotel Inv com 06682N101 35 81000 sh sole 0 81000
\par Bay State Bcorp com 072611106 258 12000 sh sole 0 12000
\par Bayview com 07262L101 196 20000 sh sole 0 20000
\par BB&T Corp com 054937107 478 20000 sh sole 0 20000
\par Berkshire Hathaway com 084670108 3497 65 sh sole 0 65
\par Berkshire Hills Banc com 084680107 638 50000 sh sole 0 50000
\par Bestfoods Inc. com 08358U101 1731 25000 sh sole 0 25000
\par BindView Develpmnt com 090327107 2925 243712 sh sole 0 243712
\par BNC Mortgage Inc. com 05561Y105 116 12000 sh sole 0 12000
\par BostonFed Bcorp com 101178101 1001 70900 sh sole 0 70900
\par Bradley Rael Estate com 104580105 2089 98000 sh sole 0 98000
\par Brookdale living com 112462106 1847 127400 sh sole 0 127400
\par Camden National com 133034108 203 15000 sh sole 0 15000
\par Capital Automotive com 139733109 27146 1921815 sh sole 0 1921815
\par Capital One Fin'l com 14040H105 223 5000 sh sole 0 5000
\par CareerBuilder, Inc. com 141684100 2275 686700 sh sole 0 686700
\par Catskill Financial com 149348104 438 20000 sh sole 0 20000
\par CFS Bancorp com 12525D102 508 55500 sh sole 0 55500
\par Charter One Finl com 160903100 2599 113000 sh sole 0 113000
\par Chase Manhattan Bank com 16161A108 9097 197500 sh sole 0 197500
\par Cherry Corp. com 164541401 2026 77000 sh sole 0 77000
\par Citigroup, Inc. com 172967101 1085 18000 sh sole 0 18000
\par CMP Group, Inc. com 125887109 1776 60600 sh sole 0 60600
\par CNY fin'lCorp. com 12613U107 650 35000 sh sole 0 35000
\par Coastal Bancorp com 19041P105 252 17500 sh sole 0 17500
\par Coinmach Laundrey Cp com 19259L101 568 40000 sh sole 0 40000
\par Colonial Bkgrp com 195493309 144 16000 sh sole 0 16000
\par Columbia Energy Grp com 197648108 3380 51500 sh sole 0 51500
\par Comerica Inc. com 200340107 1975 44000 sh sole 0 44000
\par Commercial Fed. Corp com 201647104 1541 99000 sh sole 0 99000
\par Connecticut Banc com 207540105 980 67000 sh sole 0 67000
\par CoStar Group com 75612B107 426 17000 sh sole 0 17000
\par Crescent Operating com 22575M100 27 19000 sh sole 0 19000
\par Dime Bancorp com 25429Q102 748 47500 sh sole 0 47500
\par Dover Downs Ent com 260086103 672 48000 sh sole 0 48000
\par Eastern Enterprises com 27637F100 3182 50500 sh sole 0 50500
\par Encompass Services com 29255U104 969 168574 sh sole 0 168574
\par Eskimo Pie Corp. com 296443104 375 38000 sh sole 0 38000
\par Fair Isaac & Co com 303250104 660 15000 sh sole 0 15000
\par Fannie Mae com 313586109 835 16000 sh sole 0 16000
\par FBR Asset Invmnt Cp com 30241E303 3657 252200 sh sole 0 252200
\par Fidelity National com 316326107 568 31000 sh sole 0 31000
\par Fin'l Security com 31769P100 4097 54000 sh sole 0 54000
\par First Bell Bcp com 319301107 363 23800 sh sole 0 23800
\par First Defiance com 32006W106 113 14000 sh sole 0 14000
\par First Fed Bkshr-AK com 32020F105 184 12500 sh sole 0 12500
\par First Keystone com 320655103 751 76000 sh sole 0 76000
\par First Place Fin'l com 33610T109 774 72000 sh sole 0 72000
\par First Security Corp. com 336294103 1085 80000 sh sole 0 80000
\par First Union Corp. com 337358105 2059 83000 sh sole 0 83000
\par First Untd Bankshrs com 33741E104 264 17400 sh sole 0 17400
\par Firstar Corp. com 33763V109 1474 70000 sh sole 0 70000
\par FirstFed America com 337929103 328 28400 sh sole 0 28400
\par FirstFed Fin'l Corp com 337907109 1236 87500 sh sole 0 87500
\par Fleet Boston Fin'l com 339030108 7208 212000 sh sole 0 212000
\par Freddie Mac com 313400301 365 9000 sh sole 0 9000
\par Giga Information Grp com 37517M109 213 38666 sh sole 0 38666
\par Golden State Bancorp com 381197102 1816 100900 sh sole 0 100900
\par Golden St Bancorp wts 381197136 15 13100 sh sole 0 13100
\par Golden West Fin'l com 381317106 1224 30000 sh sole 0 30000
\par GTE Corp. com 362320103 2480 40000 sh sole 0 40000
\par Hannaford Brothers com 410550107 3076 42800 sh sole 0 42800
\par Harris Savings Bank com 414541102 62 10000 sh sole 0 10000
\par Hibernia Corp. com 428656102 3012 277000 sh sole 0 277000
\par Highland Federal Bk com 429879109 244 10000 sh sole 0 10000
\par Hingham Inst Svgs com 433323102 1141 86900 sh sole 0 86900
\par Homestead Bancorp com 437698103 109 15000 sh sole 0 15000
\par Host Funding com 441072105 30 20000 sh sole 0 20000
\par IDT com 448947101 339 10000 sh sole 0 10000
\par II VI Inc. com 902104108 1838 38000 sh sole 0 38000
\par Imperial Credit Ind. com 452729106 1037 244050 sh sole 0 244050
\par Innsuites Hosp. com 457919108 41 22000 sh sole 0 22000
\par Int'l Speedway-A com 460335201 482 11650 sh sole 0 11650
\par Int'l Speedway-B com 460335300 913 22000 sh sole 0 22000
\par Iroquois Bancorp com 463347104 327 10000 sh sole 0 10000
\par ITLA Capital Corp. com 450565106 6454 445070 sh sole 0 445070
\par Jacksonville Bcorp com 469248108 904 70200 sh sole 0 70200
\par Keycorp com 493267108 2873 163000 sh sole 0 163000
\par Klamath First com 49842P103 422 36000 sh sole 0 36000
\par Liberte Investor com 530154103 51 16000 sh sole 0 16000
\par Liberty Self-Storage com 589949106 31 97000 sh sole 0 97000
\par LifeMinders com 53219H108 19632 664091 sh sole 0 664091
\par Lilly Industries com 532491107 1203 40000 sh sole 0 40000
\par Local Financial com 539553107 2797 335200 sh sole 0 335200
\par Logansport Fin'l com 541209102 509 51900 sh sole 0 51900
\par London Pacific com 542073101 156 12000 sh sole 0 12000
\par Lunar Corp. com 550362107 335 20000 sh sole 0 20000
\par Mallinckrodt, Inc.. com 561232109 1086 25000 sh sole 0 25000
\par Mapquest.com com 565644101 832 50000 sh sole 0 50000
\par Markel Corp com 570535104 1912 13500 sh sole 0 13500
\par MCN Corporation com 552675100 321 15000 sh sole 0 15000
\par Mediaone Group Inc. com 58440J104 4099 60000 sh sole 0 60000
\par Meditrust Co com 58501T306 81 21500 sh sole 0 21500
\par MEGO fin'lCorp. com-585162100 867 209440 sh sole 0 209440
\par Mellon Bank Corp. com 58551A108 1822 50000 sh sole 0 50000
\par Miami Computer Sup. com 55270M108 1920 74219 sh sole 0 74219
\par Micros Systems com 594901100 334 18000 sh sole 0 18000
\par Mutual First Finl com 62845B104 452 38500 sh sole 0 38500
\par Nabisco Group Hldg com 62952P102 1556 60000 sh sole 0 60000
\par Nabisco Holdings com 629526104 1838 35000 sh sole 0 35000
\par National City Corp com 635405103 853 50000 sh sole 0 50000
\par Network Access Sol. com 64120S109 33421 3495000 sh sole 0 3495000
\par New Century Energies com 64352U103 420 14000 sh sole 0 14000
\par North Central Bksh com 658418108 590 42500 sh sole 0 42500
\par North Fork Bancrp com 659424105 2848 188300 sh sole 0 188300
\par Northrim Bank com 666764105 120 16500 sh sole 0 16500
\par NVEST, LP com 67065F107 659 17400 sh sole 0 17400
\par One Valley Bancorp com 682419106 547 17500 sh sole 0 17500
\par Optisystems Sol. com M75252102 426 44000 sh sole 0 44000
\par Oswego County com 688636109 138 13050 sh sole 0 13050
\par Pacific Crest com 694166109 798 60800 sh sole 0 60800
\par Parkvale Fin'l com 701492100 324 18800 sh sole 0 18800
\par Peekskill fin'lCorp. com 705385102 518 24000 sh sole 0 24000
\par Penn Nat'l Gaming com 707569109 2657 195000 sh sole 0 195000
\par Pennfed Fin'l com 708167101 1144 81000 sh sole 0 81000
\par Peoples Bk-Brdgeprt com 710198102 230 12500 sh sole 0 12500
\par PFF Bancorp com 69331W104 496 27200 sh sole 0 27200
\par Pioneer Group, Inc. com 723684106 2415 57000 sh sole 0 57000
\par PNC Bank Corp com 693475105 609 13000 sh sole 0 13000
\par Pocahontas Bancorp com 730234101 1297 203939 sh sole 0 203939
\par Port Financial com 734119100 944 68000 sh sole 0 68000
\par Precision Auto Care com 74018R105 23 34000 sh sole 0 34000
\par Prime Retail com 741570105 331 263060 sh sole 0 263060
\par Prime Ret Ser A 10.5 pfd 741570204 720 78400 sh sole 0 78400
\par Protocol Systems com 74371R106 398 25000 sh sole 0 25000
\par Providence Energy Cp com 743743106 2450 60500 sh sole 0 60500
\par Provident Finl Hold com 743868101 396 28400 sh sole 0 28400
\par Quaker City Bcp com 74731K106 1050 68300 sh sole 0 68300
\par Quest Education Corp com 74835F102 181 10000 sh sole 0 10000
\par R&G fin'lCorp com 749136107 601 75710 sh sole 0 75710
\par Reliastar fin'l com 75952U103 3251 62000 sh sole 0 62000
\par Resource America com 761195205 5355 819830 sh sole 0 819830
\par Resource Asset Inv com 761196104 3790 344575 sh sole 0 344575
\par Scientific Games com 808747109 575 23400 sh sole 0 23400
\par Seacoast Fin'l Svcs com 81170Q106 729 76780 sh sole 0 76780
\par Seagate Technology com 811804103 3025 55000 sh sole 0 55000
\par Seagram Company, Ltd com 811850106 580 10000 sh sole 0 10000
\par SFX Entertainment com 784178105 2832 62500 sh sole 0 62500
\par SLM Holdings Corp com 78442A109 1310 35000 sh sole 0 35000
\par South Jersery Fin. com 838493104 647 33000 sh sole 0 33000
\par Spyglass, Inc. com 852192103 216 6900 sh sole 0 6900
\par Summit Bcorp com 866005101 320 13000 sh sole 0 13000
\par Summit Technology com 86627E101 2378 126000 sh sole 0 126000
\par Symetricom Inc. com 871543104 2462 97500 sh sole 0 97500
\par Tele Sudeste Celular adr 879252104 2325 50000 sh sole 0 50000
\par Telecom De Sao Paolo adr 87929A102 2252 81300 sh sole 0 81300
\par Telefonica De Argent adr 879378206 1385 39000 sh sole 0 39000
\par Texarkana First Finl com 881801104 700 31200 sh sole 0 31200
\par Thistle Group com 88431E103 135 19500 sh sole 0 19500
\par TIME WARNER, INC. com 887315109 760 10000 sh sole 0 10000
\par TIS Mort Inv com 872527106 6 20500 sh sole 0 20500
\par U.S. Bancorp com 902973106 424 22000 sh sole 0 22000
\par Union Carbide Corp. com 905581104 2723 55000 sh sole 0 55000
\par Union Pacific Res. com 907834105 2585 117500 sh sole 0 117500
\par Union Planters Corp. com 908068109 2235 80000 sh sole 0 80000
\par United Asset Mgmt. com 909420101 1753 75000 sh sole 0 75000
\par US Bancorp com 902973106 3080 160000 sh sole 0 160000
\par US Can Corp com 90328W105 652 37500 sh sole 0 37500
\par US West com 91273H101 5631 65543 sh sole 0 65543
\par Valley Resources Inc com 920062106 345 14300 sh sole 0 14300
\par Varsity Group, Inc. com 922300108 1426 992063 sh sole 0 992063
\par Vastar Resources Inc com 922380100 1643 20000 sh sole 0 20000
\par Ventas Inc com 92276F100 32 10000 sh sole 0 10000
\par Verio Inc. com 923433106 2219 40000 sh sole 0 40000
\par Wachovia Corp. com 929771103 1356 25000 sh sole 0 25000
\par Wash Mutual Inc com 939322103 1126 39000 sh sole 0 39000
\par Washington Fed com 938824109 1077 59000 sh sole 0 59000
\par Washington Mutual com 939322103 2847 98600 sh sole 0 98600
\par WebMethods, Inc. com 94768C108 431779 2746907 sh sole 0 2746907
\par Wells Fargo com 949746101 6723 173500 sh sole 0 173500
\par Woronoco Savings com 981630106 653 61500 sh sole 0 61500
\par Wyndham Hotel com 703352203 63 25000 sh sole 0 25000
\par Young and Rubicam com 987425105 2573 45000 sh sole 0 45000
\par
\par }
