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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1 )*
FBR Asset Investment Corporation
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
30241E303
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(CUSIP Number)
June 30, 2000 - Filing pursuant to Rule 13d-2(c)
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|X| Rule 13d-1(b)
| | Rule 13d-1(c)
| | Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP NO. 30241E303
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1. NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Boston Partners Asset Management, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) | |
(b) | |
Not applicable
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5. SOLE VOTING POWER
-0- shares
NUMBER OF -------------------- -------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH 450,621 shares
REPORTING ----------------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH:
-0- shares
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8. SHARED DISPOSITIVE POWER
450,621 shares
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
450,621 shares
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10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
Not applicable
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.5%
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12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA
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CUSIP NO. 30241E303
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1. NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Boston Partners, Inc.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) | |
(b) | |
Not applicable
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5. SOLE VOTING POWER
NUMBER OF -0- shares
SHARES
BENEFICIALLY --------------------------------------------------------------------
OWNED BY 6. SHARED VOTING POWER
EACH
REPORTING 450,621 shares
PERSON
WITH: --------------------------------------------------------------------
7. SOLE DISPOSITIVE POWER
-0- shares
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8. SHARED DISPOSITIVE POWER
450,621 shares
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
450,621 shares
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10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
Not applicable
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.5%
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12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
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CUSIP NO. 30241E303
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1. NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Desmond John Heathwood
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) | |
(b) | |
Not applicable
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5. SOLE VOTING POWER
NUMBER OF -0- shares
SHARES
BENEFICIALLY ------------------------------------------------------------------
OWNED BY 6. SHARED VOTING POWER
EACH
REPORTING 450,621 shares
PERSON
WITH: ------------------------------------------------------------------
7. SOLE DISPOSITIVE POWER
-0- shares
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8. SHARED DISPOSITIVE POWER
450,621 shares
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
450,621 shares
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10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS)
Not applicable
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.5%
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12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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Item 1. (a) Name of Issuer:
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FBR Asset Investment Corporation (the "Issuer")
(b) Address of Issuer's Principal Executive Offices:
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Potomac Tower, 1001 Nineteenth Street North, Arlington, Virginia, 22209
Item 2. (a) Names of Persons Filing:
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Boston Partners Asset Management, L.P. ("BPAM"), Boston Partners, Inc.
("Boston Partners"), and Desmond John Heathwood. BPAM, Boston
Partners, and Mr. Heathwood are sometimes referred to collectively
herewith as the "Reporting Persons."
(b) Address of Principal Business Office or, if None, Residence:
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The address of the principal business office of
BPAM, Boston Partners, and Mr. Heathwood is 28 State
Street, 20th Floor, Boston, MA 02109.
(c) Citizenship:
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BPAM is a Delaware limited partnership. Boston Partners is a Delaware
corporation. Mr. Heathwood is a United States citizen.
(d) Title of Class of Securities:
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Common Stock, $.01 par value ("Common Stock").
(e) CUSIP Number: 30241E303
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Item 3. If this statement is filed pursuant to Sections 240.13d-1(b)
or 240.13d-2(b) or (c), check whether the person filing is a:
(a) | | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
(b) | | Bank as defined in section 3(a)(6) of the Act (15 U.S.C.78c).
(c) | | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C.
78c).
(d) | | Investment company registered under section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) |X| An investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E).
(f) | | An employee benefit plan or endowment fund in accordance
with Section 240.13d-1(b)(1)(ii)(F).
(g) | | A parent holding company or control person in accordance with Section
240.13d-1(b)(1)(ii)(G).
(h) | | A savings association as defined in section 3(b) of the Federal Deposit
Insurance Act (12 U.S.C. 1813).
(i) | | A church plan that is excluded from the definition of an investment
company under section 3(c)(14) of the Investment Company Act of
1940 (15 U.S.C. 80a-3).
(j) | | Group, in accordance with Section 240.13d-1(b)(1)(ii)(J).
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Item 4. Ownership.
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Provide the following information regarding the aggregate number
and percentage of the class of securities of the issuer
identified in Item 1.
(a) Amount beneficially owned: Each of the Reporting Persons may be deemed
to own beneficially 450,621 shares of Common Stock at June 30, 2000.
BPAM owns of record 450,621 shares of Common Stock. As sole general
partner of BPAM, Boston Partners may be deemed to own beneficially all
of the shares of Common Stock that BPAM may be deemed to own
beneficially. As principal stockholder of Boston Partners, Mr.
Heathwood may be deemed to own beneficially all of the Common Stock
that Boston Partners may be deemed to own beneficially. Therefore,
each of the Reporting Persons may be deemed to own beneficially 450,621
shares of Common Stock of the Issuer.
(b) Percentage of class: 10.5 % for all Reporting Persons.
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 0 shares for all
Reporting Persons.
(ii) Shared power to vote or to direct the vote: 450,621
for all Reporting Persons.
(iii) Sole power to dispose or to direct the disposition
of: 0 shares for all Reporting Persons.
(iv) Shared power to dispose or to direct the
disposition of: 450,621 shares for all Reporting
Persons.
Instruction. For computations regarding securities which represent a right to
acquire an underlying security see Section 240.13d-3(d)(1).
Pursuant to Rule 13d-4, each of Boston Partners and Mr. Heathwood
expressly disclaims beneficial ownership of any shares of Common
Stock of the Issuer.
Item 5. Ownership of Five Percent or Less of a Class.
---------------------------------------------
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following | |.
Instruction: Dissolution of a group requires a response to this item.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
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If any other person is known to have the right to receive or the
power to direct the receipt of dividends from, or the proceeds
from the sale of, such securities, a statement to that effect
should be included in response to this item and, if such interest
relates to more than
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five percent of the class, such person should be identified. A
listing of the shareholders of an investment company registered
under the Investment Company Act of 1940 or the beneficiaries of
an employee benefit plan, pension fund or endowment fund is not
required.
BPAM holds all of the above 450,621 shares under management for
its clients, who have the right to direct the receipt of
dividends, to receive dividends from such shares and to receive
the proceeds from the sale of such shares. None of these clients
holds more than five percent of the Common Stock of the Issuer.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
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Security Being Reported on By the Parent Holding Company.
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If a parent holding company has filed this schedule, pursuant to
Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an
exhibit stating the identity and the Item 3 classification of the
relevant subsidiary. If a parent holding company has filed this
schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an
exhibit stating the identification of the relevant subsidiary.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
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If a group has filed this schedule pursuant to Section
240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an
exhibit stating the identity and Item 3 classification of each
member of the group. If a group has filed this schedule pursuant
to Section 240.13d-1(c) or Section 240.13d-1(d), attach an
exhibit stating the identity of each member of the group.
Not applicable. BPAM, Boston Partners and Mr. Heathwood expressly disclaim
membership in a "group" as defined in Rule 13d-5(b)(1).
Item 9. Notice of Dissolution of Group.
-------------------------------
Notice of dissolution of a group may be furnished as an exhibit
stating the date of the dissolution and that all further filings
with respect to transactions in the security reported on will be
filed, if required, by members of the group, in their individual
capacity. See Item 5.
Not applicable.
Item 10. Certification.
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By signing below we certify that, to the best of our knowledge
and belief, the securities referred to above were acquired and
are held in the ordinary course of business and were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose
or effect.
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SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct. We also hereby agree to file this statement jointly pursuant to the
agreement set forth as Exhibit 1 hereto.
Dated: July 6, 2000
BOSTON PARTNERS ASSET MANAGEMENT, L.P.
By: Boston Partners, Inc.,
its general partner
By: /s/ William J. Kelly
--------------------
William J. Kelly
Treasurer and Senior Vice President
by: Mary Ann Iudice
Attorney-in-Fact*
BOSTON PARTNERS, INC.
By: /s/ William J. Kelly
--------------------
William J. Kelly
Treasurer and Senior Vice President
by: Mary Ann Iudice
Attorney-in-Fact*
/s/ Mary Ann Iudice
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Desmond John Heathwood
by: Mary Ann Iudice
Attorney-in-Fact**
* Signed pursuant to a Power of Attorney executed by William J. Kelly
(containedas Exhibit 24.2 to this Schedule 13G filed with the Securities and
Exchange Commission on February 11, 2000, and incorporated herein by reference).
** Signed pursuant to a Power of Attorney executed by Desmond John
Heathwood (contained as Exhibit 24.1 to this Schedule 13G filed with the
Securities and Exchange Commission on February 11, 2000, and incorporated herein
by reference).
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Exhibit 1
AGREEMENT
Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934,
the undersigned hereby agree that only one statement containing the information
required by Schedule 13G need be filed with respect to the ownership by each of
the undersigned of shares of Common Stock of FBR Asset Investment Corporation.
This Agreement may be executed in any number of counterparts, each of
which shall be deemed an original.
EXECUTED this 6th day of July, 2000.
BOSTON PARTNERS ASSET MANAGEMENT, L.P.
By: Boston Partners, Inc.
its general partner
By: /s/ William J. Kelly
--------------------
William J. Kelly
Treasurer and Senior Vice President
by: Mary Ann Iudice
Attorney-in-Fact*
BOSTON PARTNERS, INC.
By: /s/ William J. Kelly
--------------------
William J. Kelly
Treasurer and Senior Vice President
by: Mary Ann Iudice
Attorney-in-Fact*
/s/ Mary Ann Iudice
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Desmond John Heathwood
by: Mary Ann Iudice
Attorney-in-Fact**
* Signed pursuant to a Power of Attorney executed by William J. Kelly
(contained as Exhibit 24.2 to this Schedule 13G filed with the Securities and
Exchange Commission on February 11, 2000, and incorporated herein by reference).
** Signed pursuant to a Power of Attorney executed by Desmond John
Heathwood (contained as Exhibit 24.1 to this Schedule 13G filed with the
Securities and Exchange Commission on February 11, 2000, and incorporated herein
by reference).
