UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F HR/A Form 13F Cover Page Report for the Calendar Year or Quarter Ended: June 30, 2006 Check here if Amendment ( x ) Amendment Number: 1 This Amendment (Check only one.): ( ) is a restatement ( ) adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Friedman, Billings, Ramsey Group 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: James Lindsay Title: Chief Compliance Officer - FBRC Phone: 703-469-1022 Signature, Place, and Date of Signing: James Lindsay Arlington, VA August 21, 2006 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: 97,631,793 Form 13F Information Table Value Total: $7,716,873,809 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. Name of Issuer Tit- Cusip Value Prn Sh Put Inv. 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