UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F Cover Page
Report for the Calendar Year or Quarter Ended: December 31, 1999
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 Investment Management 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: 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 10, 2000
___________________ ____________________ _______________
Signature City, State Date
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: 3
Form 13F Information Table Entry Total: 24,849,587
Form 13F Information Table Value Total: $572,053,405
List of Other Included Managers:
No: 13F File Number Name
01 Friedman Billings Ramsey & Co.
02 Friedman Billings Ramsey Investment management Inc.
03 FBR Fund Advisers, Inc.
04 FBR Venture Capital Managers, Inc.
Name of Issuer Title Cusip Value Prn Sh Put/ Inv Oth Sole
Class x1000 Amt Prn Call Dis Mgr
AES Inc. com 00130H105 748 10000 SH sole 10000
AT&T-Liberty Media com 001957208 1136 20000 SH sole 20000
ASB Fin'l Corp com 00205P107 208 20000 SH sole 20000
Abbott Laboratories com 002824100 436 12000 SH sole 12000
Aironet Wireless Comm com 00943A107 1349 20200 SH sole 20200
Altiva Fin'l pref 021497300 278 296667 SH sole 296667
Altiva Fin'l Corp com 021797300 85 90681 SH sole 90681
America Online com 02364J105 3065 40400 SH sole 40400
American Home Mort. com 02660M108 331 50000 SH sole 50000
Amer Tower Corp com 029912201 810 26500 SH sole 26500
American Tower A com 029912201 22032 120880 SH sole 120880
Amsouth Bcorp com 032165102 464 24000 SH sole 24000
Annapolis Nat'l Banc com 035848100 123 29047 SH sole 29047
Anthracite Capital com 037023108 10084 1581846 SH sole 1581846
Astoria Fin'l com 046265104 1339 44000 SH sole 44000
Atlantic Gulf com 048556104 3 55000 SH sole 55000
Banco Santander com 059646109 772 50000 SH sole 50000
Bank of New York com 064057102 3770 94255 SH sole 94255
Bank of New York com 064057102 1210 30255 SH sole 30255
Banc One com 06423A103 928 29000 SH sole 29000
Bank Plus Corp com 064446107 456 158750 SH sole 158750
Bnk Plus Sr. Nt Jul 07 bd 064446AA5 198 250000 SH sole 250000
Bank United com 065412108 451 17500 SH sole 17500
BankAtlantic Bancorp com 065908501 213 51750 SH sole 51750
Banyan Hotel Inv com 06682N101 36 77000 SH sole 77000
Adforce Inc. com 06867105 535 7500 SH sole 7500
Bay View com 07262L101 108 10000 SH sole 10000
Berkshire Hathaway A com 084670108 9313 166 SH sole 166
Berkshire Hathaway B com 084670207 2042 1116 SH sole 1116
Amer Tower Jan'02 @30 call 0E999J051 548 600 SH call sole 600
BostonFed Bcorp com 101178101 1284 80900 SH sole 80900
Bristol Myers Squibb com 110122108 616 9600 SH sole 9600
Brookdale living com 112462106 1577 127400 SH sole 127400
Brookline Bcorp com 113739106 346 35500 SH sole 35500
Building One Services com 120114103 1932 204686 SH sole 204686
Burke & Herbert Bank com 121331102 1012 1638 SH sole 1638
CBS Corp com 12490K107 222 3479 SH sole 3479
CFS Bancorp com 12525D102 375 50500 SH sole 50500
CNY Fin'l Corp com 12613U107 315 17500 SH sole 17500
CSX Corporation com 126408103 299 9518 SH sole 9518
Calif Culinary Academy com 129905105 91 20000 SH sole 20000
Camco Fin'l com 132618109 192 18711 SH sole 18711
Camden National com 133034108 728 43458 SH sole 43458
Cameron Fin'l com 133425108 470 37261 SH sole 37261
Capital Automotive com 139733109 23422 1921815 SH sole 1921815
CareerBuilder, Inc. com 141684100 4421 686700 SH sole 686700
Catherines Stores Inc. com 14916F100 491 23400 SH sole 23400
Catskill Fin'l com 149348104 661 48500 SH sole 48500
Charter One Fin'l com 160903100 1224 64000 SH sole 64000
Chase Manhattan Corp. com 16161A108 583 7500 SH sole 7500
Chicago Title Corp com 168228104 624 13500 SH sole 13500
Churchill Downs, Inc. com 171484108 3513 155700 SH sole 155700
Cisco Systems, Inc. com 17275R102 2143 20000 SH sole 20000
Citigroup com 172967101 6829 122635 SH sole 122635
Clarify Corp com 180492100 630 5000 SH sole 5000
Coastal Bancorp com 19041P105 4525 256637 SH sole 256637
Coca-Cola Co. com 191216100 535 9192 SH sole 9192
Cohoes Bancorp com 192513109 433 43000 SH sole 43000
AOL Jan 2002 @45 call 1E699E542 853 200 SH call sole 200
Comerica Inc com 200340107 2334 50000 SH sole 50000
Commercial Federal com 201647104 2170 123500 SH sole 123500
Country Wide Credit com 222372104 480 19000 SH sole 19000
Crystal Gas Storage com 229241104 1619 28500 SH sole 28500
Dime Bancorp Inc com 25429Q102 2878 190300 SH sole 190300
Dover Downs com 260086103 8376 446735 SH sole 446735
Downey Fin'l Corp com 261018105 1514 75000 SH sole 75000
EQK Realty Invest com 268820107 3 103000 SH sole 103000
EchoStar Communic. com 278762109 293 3000 SH sole 3000
Emmis Commun com 291525103 436 3500 SH sole 3500
eSpeed Inc com 296643109 249 7000 SH sole 7000
Exodus com 302088109 249 2800 SH sole 2800
Exxon Mobil com 30231G102 227 2816 SH sole 2816
FBR Asset Inv Corp com 30241E303 1402 100300 SH sole 100300
Fair Isaac & Co com 303250104 795 15000 SH sole 15000
Fed. Home Loan Mtg. com 313400301 5245 111450 SH sole 111450
Fannie Mae com 313586109 1061 17000 SH sole 17000
First Bell Bcp com 319301107 1002 65700 SH sole 65700
First Fed E Hrtfrd com 319944104 1479 49300 SH sole 49300
1st Fed Fin'l Banc/OH com 319988101 280 26500 SH sole 26500
First Keystone com 320655103 726 74500 SH sole 74500
First Place Fin'l com 33610T109 1107 104200 SH sole 104200
First Security Fed Fin'com 336392105 528 48700 SH sole 48700
First Sentinel Banc com 33646K106 234 30000 SH sole 30000
First Union Corp. com 337358105 3673 111500 SH sole 111500
FirstFed Fin'l Corp com 337907109 1619 115100 SH sole 115100
FleetBoston Fin'l com 338915101 704 20212 SH sole 20212
Fleet Boston Fin'l Cp com 339030108 1741 50000 SH sole 50000
Foremost Corp of Amer. com 345469100 1197 42200 SH sole 42200
FBR Group Inc. com 358433100 22 2855 SH sole 2855
GTE Corp com 362320103 1058 15000 SH sole 15000
General Electric com 369604103 356 2300 SH sole 2300
General Instrument Cp com 370120107 1862 21900 SH sole 21900
Global Vacation Gp com 37937F106 29 10000 SH sole 10000
Golden State Bancorp com 381197102 1396 80900 SH sole 80900
GSB Litigation Trck Wt rts 381197136 11 13100 SH sole 13100
Golden West Fin'l com 381317106 1139 34000 SH sole 3500
Hallmark Capital com 406241109 163 18100 SH sole 18100
Harris Savings Bk com 414541102 225 30000 SH sole 30000
Hibernia Corporation com 428656102 2678 252000 SH sole 252000
Hingham Inst Svgs com 433323102 1492 102900 SH sole 102900
Hollywood Park com 436255103 673 30000 SH sole 30000
ITLA Capital Corp com 450565106 5888 468670 SH sole 468670
Imperial Credit Indust com 452729106 1682 269050 SH sole 269050
Imperial Credit Comm com 45272T102 11132 978600 SH sole 978600
Independence com 453414104 688 55000 SH sole 55000
Infospace.com com 45678T102 428 2000 SH sole 2000
Innsuites Hospitality com 457919108 44 17500 SH sole 17500
Intergrated Systems com 45812M104 839 25000 SH sole 25000
Intl. Speedway A com 460335201 2354 46730 SH sole 46730
Int'l Speedway-B com 460335300 20467 409330 SH sole 409330
Internet Capital Group com 46059C106 340 2000 SH sole 2000
Isocor Inc. com 464902105 761 17500 SH sole 17500
Jacksonville Bcorp com 469248108 956 70200 SH sole 70200
KS Bancorp, Inc. com 48266R108 355 19200 SH sole 19200
KeyCorp com 493267108 4735 174400 SH sole 174400
Klamath First Bancorp com 49842P103 720 60658 SH sole 60658
Knight Trimark Gp com 499067106 299 6500 SH sole 6500
Ladd Furniture Inc. com 505739201 395 20000 SH sole 20000
Liberte Investor com 530154103 45 13000 SH sole 13000
LifeMinders com 53219H108 85273 1476591 SH sole 1476591
Local Fin'l com 539553107 3476 335200 SH sole 335200
Logansport Fin'l com 541209102 614 61400 SH sole 61400
MFB Corp com 55272D106 250 15000 SH sole 15000
Markel Corporation com 570535104 13892 89623 SH sole 89623
Medford Bcorp com 584131106 239 14400 SH sole 14400
Meditrust Co. com 58501T306 58 10500 SH sole 10500
MEGO Fin'l Corp com 585162100 245 59440 SH sole 59440
MEGO Fin'l Corp com/r 585162100 619 150000 SH sole 150000
Merck & Co., Inc. com 589331107 517 7700 SH sole 7700
Meridian Point com 589949106 39 88000 SH sole 88000
Meritage Corporation com 59001A102 915 84128 SH sole 84128
Merrill Lynch com 590188108 333 4000 SH sole 4000
Miami Computer Supply com 593261100 6683 175219 SH sole 175219
Micros Systems Inc. com 594901100 3430 46350 SH sole 46350
MidAmer Energy Hldngs com 59562V107 1213 36000 SH sole 36000
Midwest/Bolingbk com 598388106 134 11500 SH sole 11500
National City Corp com 635405103 592 25000 SH sole 25000
Network Access Sol com 64120S109 115335 3495000 SH sole 3495000
Network Solutions com 64121Q102 218 1000 SH sole 1000
Newsedge Corp com 65249Q106 175 15000 SH sole 15000
North Central Bksh com 658418108 872 58100 SH sole 58100
NorthFork Bancorp com 659424105 4439 255500 SH sole 255500
NE Penn Fin'l com 663905107 145 14500 SH sole 14500
Northrim Bank com 666764105 289 30000 SH sole 30000
Nutmeg Federal com 670608108 97 11724 SH sole 11724
Oak Industries com 671400505 1459 13750 SH sole 13750
Ocean First Fin'l com 675234108 1020 58900 SH sole 58900
Omnipoint Corp. com 68212D102 2413 20000 SH sole 20000
Ontrack Data Int'l com 683372106 631 52300 SH sole 52300
Oracle Corp. com 68389X105 224 2000 SH sole 2000
Oswego County com 688636109 128 14250 SH sole 14250
Ovation Inc. com 690148101 600 49463 SH sole 49463
PFF Bancorp com 69331W104 291 15000 SH sole 15000
Celera Genomics com 69332S201 447 3000 SH sole 3000
Pimco Adv Holdings LP com 69338P102 1112 29500 SH sole 29500
PNC Bank Corp com 693475105 534 12000 SH sole 12000
PSB Bancorp, Inc com 693604100 126 28700 SH sole 28700
PVF Capital Corp com 693654105 134 11500 SH sole 11500
Pacific Crest Capital com 694166109 1633 128070 SH sole 128070
Parkvale Fin'l com 701492100 701 43650 SH sole 43650
Paychex, Inc. com 704326107 400 10000 SH sole 10000
Penn National Gaming com 707569109 10546 1171815 SH sole 1171815
Pennfed Fin'l com 708167101 1543 102000 SH sole 102000
Peoples Bk/Bridgept com 710198102 3177 150375 SH sole 150375
Peoples Heritage com 711147108 1069 71000 SH sole 71000
Philip Morris Co., Inc com 718154107 207 9000 SH sole 9000
Pocahontas Bancorp com 730234101 1921 341439 SH sole 341439
Premier Bankshares com 739909109 529 38800 SH sole 38800
Precision Auto Care com 74018R105 38 34000 SH sole 34000
Prime Retail com 741570105 1480 263060 SH sole 263060
Prime Ret. 10.5% Ser A pref 741570204 1162 79100 SH sole 79100
Prime Bancshares Inc. com 74157H108 240 10000 SH sole 10000
Provident Fin'l Hldngs com 743868101 164 10000 SH sole 10000
Proxicom, Inc. com 744282104 2981 23981 SH sole 23981
Public Service Co. NC com 744516105 485 15000 SH sole 15000
Pulitzer Inc. com 745769109 2702 67035 SH sole 67035
Quaker City Bcp com 74731K106 1495 92000 SH sole 92000
Qualcomm com 747525103 352 2000 SH sole 2000
R&G Fin'l Corp com 749136107 871 75710 SH sole 75710
Radio One com 75040P108 460 5000 SH sole 5000
CoStar Group com 75612B107 718 20000 SH sole 20000
Reliance Bancorp com 759451107 587 17000 SH sole 17000
Republic New York Cp com 760719104 1512 21000 SH sole 21000
Resource America com/r 761195205 5479 695765 SH sole 695765
Resource America com 761195205 977 124065 SH sole 124065
Resource Asset Inv Tr. com 761196104 3726 344575 SH sole 344575
Rocky Ford Fin'l com 774549109 108 10000 SH sole 10000
SLM Holdings Corp com 78442A109 1479 35000 SH sole 35000
Safeskin Corp com 786454108 794 65500 SH sole 65500
Saga Systems com 786610105 807 40500 SH sole 40500
Schwab,Charles com 808513105 383 10000 SH sole 10000
Seacoast Fin'l Svcs com 81170Q106 707 69380 SH sole 69380
Security First com 814254108 613 5700 SH sole 5700
Service Experts Inc. com 817567100 278 47800 SH sole 47800
Softworks Inc. com 83404P102 535 55000 SH sole 55000
Sovereign Bancorp com 845905108 279 37500 SH sole 37500
Spanish Broadcast com 846425882 523 13000 SH sole 13000
Staten Island Bcorp com 857550107 450 25000 SH sole 25000
Sun Microsystems com 866810104 155 2000 SH sole 2000
Symmetricom Inc. com 871543104 2832 285000 SH sole 285000
TIS Mort Inv com 872527106 16 25000 SH sole 25000
TJ Int'lCorp com 872534102 420 10000 SH sole 10000
Tandy Cp Jan 02 @45 call 8749229A7 360 200 SH call sole 200
Telebanc Fin'l Corp com 87925R109 260 10000 SH sole 10000
Texarkana First Fin'l com 881801104 377 19600 SH sole 19600
II VI Inc. com 902104108 1302 64700 SH sole 64700
UST Corp com 902900109 1778 56000 SH sole 56000
Union Carbide com 905581104 1001 15000 SH sole 15000
Union Planters Corp com 908068109 3944 100000 SH sole 100000
United Bankshares com 909907107 955 40000 SH sole 40000
United Pay&Unit Prov com 911319101 4963 204240 SH sole 204240
US West com 91273H101 900 12500 SH sole 12500
Virginia Capital com 927758102 441 28600 SH sole 28600
Voicestream Wireless com 928615103 712 5000 SH sole 5000
Walden Resident com 931210108 441 20400 SH sole 20400
Washington Fed com 938824109 1205 61000 SH sole 61000
Washington Mutual com 939322103 4210 162700 SH sole 162700
Webster Fin'l Corp. com 947890109 1086 46100 SH sole 46100
Wells Fargo com 949746101 5493 135840 SH sole 135840
Western Water Co com 959881103 18 15000 SH sole 15000
W. Wood Homestead Fin com 961767100 319 29700 SH sole 29700
World Wrestling Fedn com 98156Q108 259 15000 SH sole 15000
Woronoco Savings com 981630106 765 79000 SH sole 79000
Wyndham Hotel com 703352203 59 20000 SH sole 20000
Yonkers Fin'l com 986073104 431 25000 SH sole 25000
Gemstar Int'l Gr. com G3788V106 1710 24000 SH sole 24000
Terra Nova Berm Hldngs com G87615103 1725 57500 SH sole 57500
