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: September 29, 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 November 13, 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: 84,273,383
Form 13F Information Table Value Total: $1,653,117,513
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. Oth Sole
le x1000 Amt. prn cal Disc Mgr Mgr
99 Cents Only Stores com 65440K106 3445 3445336 sh 0 sole 0 3445336
Aames Investment Corp com 00253G108 4708 4707900 sh 0 sole 0 4707900
ACE Ltd com G0070K103 4 3854 sh 0 sole 0 3854
Advanced Micro Devices com 007903107 25 25100 sh 0 sole 0 25100
Advancis Pharma Corp com 00764L109 397 397467 sh 0 sole 0 397467
Advanta Corp com 007942204 62 61741 sh 0 sole 0 61741
AES Corp/The com 00130H105 1000 1000000 sh 0 sole 0 1000000
Affirmative Insurance com 008272106 50 50000 sh 0 sole 0 50000
AGL Resources Inc com 001204106 147 146750 sh 0 sole 0 146750
Alliant Energy Corp com 018802108 31 30675 sh 0 sole 0 30675
Altana AG com 02143N103 5 4875 sh 0 sole 0 4875
Altria Group Inc com 02209S103 5 5000 sh 0 sole 0 5000
Ameren Corp com 023608102 32 32125 sh 0 sole 0 32125
American Fin'l Realty com 02607P305 15 14666 sh 0 sole 0 14666
American International com 026874107 5 5000 sh 0 sole 0 5000
American Power Conv. com 029066107 12 12425 sh 0 sole 0 12425
American Tower Corp com 029912201 4107 4107256 sh 0 sole 0 4107256
American Woodmark Corp com 030506109 731 730850 sh 0 sole 0 730850
AmeriCredit Corp com 03060R101 998 998000 sh 0 sole 0 998000
Ameriprise Fin'l Inc com 03076C106 13 13100 sh 0 sole 0 13100
Analog Devices Inc com 032654105 13 13175 sh 0 sole 0 13175
Annaly Capital Mgmt. com 035710409 491 491306 sh 0 sole 0 491306
Anworth Mortgage Asset com 037347101 588 588306 sh 0 sole 0 588306
Apache Corp com 037411105 8 8102 sh 0 sole 0 8102
Apple Computer Inc com 37833100 12 12000 sh 0 sole 0 12000
Applied Materials Inc com 038222105 22 22450 sh 0 sole 0 22450
Aquila Inc com 03840P102 229 228550 sh 0 sole 0 228550
Arrow Electronics Inc com 042735100 8 7950 sh 0 sole 0 7950
Asta Funding Inc com 046220109 162 162467 sh 0 sole 0 162467
Astoria Fin'l Corp com 046265104 25 25000 sh 0 sole 0 25000
AT&T Inc com 00206R102 41 41264 sh 0 sole 0 41264
Atmel Corp com 49513104 13 12775 sh 0 sole 0 12775
Atmos Energy Corp com 049560105 183 182550 sh 0 sole 0 182550
AU Optronics com 002255107 24 24265 sh 0 sole 0 24265
Avalon Pharmas Inc com 05346P106684 84402 sh 0 sole 0 84402
Avista Corp com 05379B107 22 22375 sh 0 sole 0 22375
Bally Technologies Inc com 05874B107 1600 1600000 sh 0 sole 0 1600000
Bancorp Rhode Island com 059690107 183 183133 sh 0 sole 0 183133
Bancshares of Florida com 05976U102 50 50099 sh 0 sole 0 50099
Bank Mutual Corp com 063750103 663 663017 sh 0 sole 0 663017
Bank of America Corp com 060505104 22 22000 sh 0 sole 0 22000
Bank of Montreal com 063671101 3 3431 sh 0 sole 0 3431
Bankunited Fin'l Corp com 06652B103 1058 1058270 sh 0 sole 0 1058270
Banner Corp com 06652V109 239 239328 sh 0 sole 0 239328
Beach First Nat'l Banc com 073334104 10 9913 sh 0 sole 0 9913
Bear Stearns Cos Inc com 073902108 8 8348 sh 0 sole 0 8348
Beverly Hills Bancorp com 087866109 72 72000 sh 0 sole 0 72000
Beverly National Corp com 088115100 35 35000 sh 0 sole 0 35000
Big 5 Sporting Goods com 08915P101 108 107900 sh 0 sole 0 107900
Biogen Idec Inc com 09062X103 7 6500 sh 0 sole 0 6500
Bradley Pharmas Inc com 104576103 228 228100 sh 0 sole 0 228100
Brown & Brown Inc com 115236101 50 50000 sh 0 sole 0 50000
Canon Inc com 138006309 28 27750 sh 0 sole 0 27750
Capital One Fin'l Corp com 14040H105 5 5000 sh 0 sole 0 5000
Capitol Federal Fin'l com 14057C106 86 86000 sh 0 sole 0 86000
Carmax Inc com 143130102 1500 1500000 sh 0 sole 0 1500000
Carnival Corp com 143658300 20 20000 sh 0 sole 0 20000
Cascade Natural Gas com 147339105 29 29200 sh 0 sole 0 29200
Centerpoint Energy Inc com 15189T107 281 281300 sh 0 sole 0 281300
CH Energy Group Inc com 12541M102 8 8250 sh 0 sole 0 8250
Check Point Software com M22465104 11 10500 sh 0 sole 0 10500
Cheniere Energy Inc com 16411R208 90 89700 sh 0 sole 0 89700
Chesapeake Utilities com 165303108 12 12065 sh 0 sole 0 12065
Chevron Corp com 166764100 7 7050 sh 0 sole 0 7050
Chicago Merc Ex Hldgs com 167760107 2 2000 sh 0 sole 0 2000
Chico's FAS Inc com 168615102 15 15000 sh 0 sole 0 15000
Chubb Corp com 171232101 4 4498 sh 0 sole 0 4498
CIT Group Inc com 125581108 16 16000 sh 0 sole 0 16000
Citigroup Inc com 172967101 18 18000 sh 0 sole 0 18000
Clinical Data Inc com 18725U109726 25560 sh 0 sole 0 25560
CNA Fin'l Corp com 126117100 26 25815 sh 0 sole 0 25815
Comerica Inc com 200340107 20 20110 sh 0 sole 0 20110
Commercial Capital Bcp com 20162L105 420 420000 sh 0 sole 0 420000
Compudyne Corp com 204795306 40 40000 sh 0 sole 0 40000
Computer Sciences Corp com 205363104 7 7000 sh 0 sole 0 7000
Compuware Corp com 205638109 11 10800 sh 0 sole 0 10800
Comverse Technology Inc com 205862402 10 10150 sh 0 sole 0 10150
Consolidated Edison Inc com 209115104 96 96175 sh 0 sole 0 96175
Constellation Energy Gr com 210371100 24 23850 sh 0 sole 0 23850
Consumers Energy Fin. com 125896100 117 116650 sh 0 sole 0 116650
Costco Wholesale Corp com 22160K105 9 8654 sh 0 sole 0 8654
CSX Corp com 126408103 11 11122 sh 0 sole 0 11122
Cummins Inc com 231021106 2 2000 sh 0 sole 0 2000
Cytomyx Holdings com 033942276 11048 11047740sh 0 sole 0 11047740
Deerfield Triarc Cap com 244572301 60 60000 sh 0 sole 0 60000
Delta Natural Gas Co com 247748106 8 8307 sh 0 sole 0 8307
Dime Community Bcshs com 253922108 577 576506 sh 0 sole 0 576506
Dollar General Corp com 256669102 20 20000 sh 0 sole 0 20000
Dominion Resources Inc com 25746U109 141 140550 sh 0 sole 0 140550
Dover Motorsports Inc com 260174107 604 603800 sh 0 sole 0 603800
Downey Fin'l Corp com 261018105 346 345900 sh 0 sole 0 345900
DR Horton Inc com 23331A109 587 586666 sh 0 sole 0 586666
DTE Energy Co com 233331107 62 62225 sh 0 sole 0 62225
Duke Energy Corp com 26441C105 426 426287 sh 0 sole 0 426287
Dynamex Inc com 26784F103 465 464997 sh 0 sole 0 464997
Dynavax Technologies com 268158102 69 69444 sh 0 sole 0 69444
E.ON AG com 268780103 323 323240 sh 0 sole 0 323240
ECC Capital Corp com 26826M108 3940 3940110 sh 0 sole 0 3940110
Edison International com 281020107 8 8026 sh 0 sole 0 8026
El Paso Corp com 28336L109 897 897000 sh 0 sole 0 897000
EMC Corp/Massachusetts com 268648102 23 22575 sh 0 sole 0 22575
Enbridge Inc com 29250N105 403 402810 sh 0 sole 0 402810
Energen Corp com 29265N108 63 62625 sh 0 sole 0 62625
Energy East Corp com 29266M109 135 134650 sh 0 sole 0 134650
EnergySouth Inc com 292970100 19 19189 sh 0 sole 0 19189
Equitable Resources Inc com 294549100 124 123950 sh 0 sole 0 123950
Exelon Corp com 30161N101 81 80525 sh 0 sole 0 80525
Fannie Mae com 313586109 12 12000 sh 0 sole 0 12000
Fieldstone Investment com 31659U300 3601 3601071 sh 0 sole 0 3601071
FirstFed Fin'l Corp com 337907109 512 512000 sh 0 sole 0 512000
Flagstar Bancorp Inc com 337930101 190 190000 sh 0 sole 0 190000
Flextronics Int. com Y2573F102 21 21400 sh 0 sole 0 21400
Flushing Fin'l Corp com 343873105 172 172461 sh 0 sole 0 172461
Franklin Bank Corp com 352451108 579 578791 sh 0 sole 0 578791
Freddie Mac com 313400301 57 57291 sh 0 sole 0 57291
Freescale Semiconductor com 35687M206 13 13442 sh 0 sole 0 13442
Fuji Photo Film Co Ltd com 359586302 16 16490 sh 0 sole 0 16490
General Electric Co com 369604103 20 20000 sh 0 sole 0 20000
Genworth Fin'l Inc com 37247D106 17 17000 sh 0 sole 0 17000
Global Imaging Systems com 37934A100 1085 1085400 sh 0 sole 0 1085400
Golden West Fin'l Corp com 381317106 7 7000 sh 0 sole 0 7000
Goldman Sachs Group Inc com 38141G104 6 5500 sh 0 sole 0 5500
Government Properties com 38374W107 210 210000 sh 0 sole 0 210000
Greenville First Banc com 39607Y100 43 42727 sh 0 sole 0 42727
Hana Biosciences Inc com 40963P105 154 153963 sh 0 sole 0 153963
Harleysville Savings com 412865107 36 35740 sh 0 sole 0 35740
Harrington West Fin'l com 41383L104 80 80335 sh 0 sole 0 80335
Hartford Fin'l Services com 416515104 8 8369 sh 0 sole 0 8369
Hess Corp com 42809H107 10 10000 sh 0 sole 0 10000
Highland Hospitality com 430141101 167 167213 sh 0 sole 0 167213
Hilb Rogal & Hobbs Co com 431294107 394 393500 sh 0 sole 0 393500
Hingham Inst for Sav com 433323102 99 99308 sh 0 sole 0 99308
HMN Fin'l Inc com 40424G108 102 101701 sh 0 sole 0 101701
Host Hotels & Resorts com 44107P104 15 15000 sh 0 sole 0 15000
Hudson City Bancorp Inc com 443683107 2223 2223156 sh 0 sole 0 2223156
Hyperspace Comm Wts com 44915D103 100 100000 sh 0 sole 0 100000
IMPAC Mortgage Holdings com 45254P102 30 30000 sh 0 sole 0 30000
IndyMac Bancorp Inc com 456607100 22 22000 sh 0 sole 0 22000
Infineon Technologies com 45662N103 28 28000 sh 0 sole 0 28000
Infinity Energy Res com 45663L403 10 10044 sh 0 sole 0 10044
Intel Corp com 458140100 38 38300 sh 0 sole 0 38300
IBM com 459200101 3 2600 sh 0 sole 0 2600
International Game Tech com 459902102 20 20000 sh 0 sole 0 20000
International Speedway com 460335201 60 60000 sh 0 sole 0 60000
International Speedway com 460335300 19 19000 sh 0 sole 0 19000
Investors Bancorp Inc com 46146P102 105 105000 sh 0 sole 0 105000
Iomai Corp com 46202P103 101 101346 sh 0 sole 0 101346
Isle of Capri Casinos com 464592104 212 212300 sh 0 sole 0 212300
ITLA Capital Corp com 450565106 236 235770 sh 0 sole 0 235770
Jabil Circuit Inc com 466313103 29 29375 sh 0 sole 0 29375
JPMorgan Chase & Co com 46625H100 25 25000 sh 0 sole 0 25000
Keycorp com 493267108 34 33630 sh 0 sole 0 33630
KeySpan Corp com 49337W100 310 310400 sh 0 sole 0 310400
Kla-Tencor Corp com 482480100 13 12525 sh 0 sole 0 12525
Kyocera Corp com 501556203 14 13635 sh 0 sole 0 13635
L.G. Phillips LTD com 50186V102 37 37450 sh 0 sole 0 37450
Laclede Group Inc/The com 505597104 48 47650 sh 0 sole 0 47650
Lam Research Corp com 512807108 5 5100 sh 0 sole 0 5100
Lehman Brothers Hold com 524908100 7 7000 sh 0 sole 0 7000
Lincoln National Corp com 534187109 8 8000 sh 0 sole 0 8000
Loews Corp com 540424108 7 7170 sh 0 sole 0 7170
Louisiana-Pacific Corp com 546347105 20 20000 sh 0 sole 0 20000
Luminent Mortgage Cap com 550278303 524 523906 sh 0 sole 0 523906
MAF Bancorp Inc com 55261R108 185 184800 sh 0 sole 0 184800
Magna International Inc com 559222401 3 2865 sh 0 sole 0 2865
Marathon Oil Corp com 565849106 4 4300 sh 0 sole 0 4300
Markel Corp com 570535104 255 255400 sh 0 sole 0 255400
Markwest Hydrocarbon com 570762104 398 397890 sh 0 sole 0 397890
MASSBANK Corp com 576152102 107 106745 sh 0 sole 0 106745
Maxim Integrated Prod com 57772K101 13 13300 sh 0 sole 0 13300
McKesson Corp com 58155Q103 14 13575 sh 0 sole 0 13575
MDU Resources Group Inc com 552690109 71 70850 sh 0 sole 0 70850
Medical Properties Tr com 58463J106 22 22430 sh 0 sole 0 22430
Merck & Co Inc com 589331107 11 11300 sh 0 sole 0 11300
Merrill Lynch & Co Inc com 590188108 11 11000 sh 0 sole 0 11000
Metlife Inc com 59156R108 24 24419 sh 0 sole 0 24419
MFA Mortgage Inv. com 55272X102 731 731306 sh 0 sole 0 731306
MGE Energy Inc com 55277P104 13 13028 sh 0 sole 0 13028
Micron Technology Inc com 595112103 43 43235 sh 0 sole 0 43235
Micros Systems Inc com 594901100 32 32000 sh 0 sole 0 32000
MITSUBISHI UFJ FINL GR com 606822104 162 161597 sh 0 sole 0 161597
Molex Inc com 608554101 7 6700 sh 0 sole 0 6700
Monarch Casino & Resort com 609027107 992 992000 sh 0 sole 0 992000
Morgan Stanley com 617446448 23 23026 sh 0 sole 0 23026
Motorola Inc com 620076109 42 41500 sh 0 sole 0 41500
Nasdaq Stock Market Inc com 631103108 17 17100 sh 0 sole 0 17100
National City Corp com 635405103 27 27000 sh 0 sole 0 27000
National Fuel Gas Co com 636180101 118 118200 sh 0 sole 0 118200
National Grid PLC com 636274300 205 204576 sh 0 sole 0 204576
National Semiconductor com 637640103 13 12875 sh 0 sole 0 12875
NCR Corp com 62886E108 7 7000 sh 0 sole 0 7000
New Century Fin'l Corp com 6435EV108 25 25000 sh 0 sole 0 25000
New Jersey Resources com 646025106 48 47500 sh 0 sole 0 47500
New York Mortgage Trust com 649604105 200 200000 sh 0 sole 0 200000
Nicor Inc com 654086107 103 103350 sh 0 sole 0 103350
NiSource Inc com 65473P105 375 375450 sh 0 sole 0 375450
Norfolk Southern Corp com 655844108 10 10214 sh 0 sole 0 10214
Northeast Utilities com 664397106 36 36450 sh 0 sole 0 36450
Northwest Natural Gas com 667655104 65 65000 sh 0 sole 0 65000
NorthWestern Corp com 668074305 28 28416 sh 0 sole 0 28416
NOVARTIS AG com 66987V109 16 15505 sh 0 sole 0 15505
NSTAR com 67019E107 28 27500 sh 0 sole 0 27500
NYSE Group Inc com 62949W103 8 8000 sh 0 sole 0 8000
Occidental Petroleum com 674599105 10 10440 sh 0 sole 0 10440
Oneok Inc com 682680103 104 103700 sh 0 sole 0 103700
Opteum Inc com 68384A100 380 380306 sh 0 sole 0 380306
O'Reilly Automotive Inc com 686091109 357 356508 sh 0 sole 0 356508
Pacific Premier Bancorp com 69478X105 271 270529 sh 0 sole 0 270529
Parkvale Fin'l Corp com 701492100 272 271675 sh 0 sole 0 271675
Patriot National Bancp com 70336F104 70 70000 sh 0 sole 0 70000
Penn National Gaming com 707569109 4100 4100000 sh 0 sole 0 4100000
Penn Virginia Corp com 707882106 212 211800 sh 0 sole 0 211800
Pennfed Fin'l Services com 708167101 131 130539 sh 0 sole 0 130539
People's Bank com 710198102 159 159461 sh 0 sole 0 159461
Peoples Energy Corp com 711030106 74 73975 sh 0 sole 0 73975
Pepco Holdings Inc com 713291102 14 14116 sh 0 sole 0 14116
PFF Bancorp Inc com 69331W104 311 311100 sh 0 sole 0 311100
PG&E Corp com 69331C108 240 240425 sh 0 sole 0 240425
Piedmont Natural Gas Co com 720186105 182 181900 sh 0 sole 0 181900
Pinnacle Entertainment com 723456109 1471 1471407 sh 0 sole 0 1471407
Pioneer Natural Res. com 723787107 13 13275 sh 0 sole 0 13275
PNM Resources Inc com 69349H107 24 24375 sh 0 sole 0 24375
Pwrshares Dyn Bio/Gen com 73935X856 16 15600 sh 0 sole 0 15600
PPL Corp com 69351T106 20 20450 sh 0 sole 0 20450
Principal Fin'l Group com 74251V102 18 18026 sh 0 sole 0 18026
Progressive Corp/The com 743315103 10 10000 sh 0 sole 0 10000
Provident Fin'l Serv com 74386T105 36 36000 sh 0 sole 0 36000
Prudential Fin'l Inc com 744320102 12 12372 sh 0 sole 0 12372
Public Service Ent. com 744573106 131 130700 sh 0 sole 0 130700
Puget Energy Inc com 745310102 73 73100 sh 0 sole 0 73100
Pulte Homes Inc com 745867101 10 10000 sh 0 sole 0 10000
Quanta Cap Hldgs Ltd com 74763S100 3029 3029338 sh 0 sole 0 3029338
Questar Corp com 748356102 95 95225 sh 0 sole 0 95225
Royal Dutch Shell com 780259206 9 9073 sh 0 sole 0 9073
SanDisk Corp com 80004C101 7 7200 sh 0 sole 0 7200
Schering-Plough Corp com 806605101 54 54175 sh 0 sole 0 54175
Seagate Technology com G7945J104 12 11500 sh 0 sole 0 11500
SEMCO Energy Inc com 78412D109 80 80125 sh 0 sole 0 80125
Sempra Energy com 816851109 6 6142 sh 0 sole 0 6142
Serono SA com 81752M101 14 13900 sh 0 sole 0 13900
Shuffle Master Inc com 825549108 158 157500 sh 0 sole 0 157500
Sierra Pacific Res com 826428104 17 17325 sh 0 sole 0 17325
Simpson Manuf Co Inc com 829073105 686 686450 sh 0 sole 0 686450
Solectron Corp com 834182107 18 17950 sh 0 sole 0 17950
Solexa Inc com 83420X105 21 20857 sh 0 sole 0 20857
Sony Corp com 835699307 30 30392 sh 0 sole 0 30392
South Jersey Industries com 838518108 59 59110 sh 0 sole 0 59110
Southern Union Co com 844030106 261 261457 sh 0 sole 0 261457
Southwest Airlines Co com 844741108 21 20567 sh 0 sole 0 20567
Southwest Gas Corp com 844895102 94 94050 sh 0 sole 0 94050
Southwestern Energy Co com 845467109 46 46150 sh 0 sole 0 46150
Sovereign Bancorp Inc com 845905108 27 27000 sh 0 sole 0 27000
Spclty Underwriters' Al com 84751T309 929 928602 sh 0 sole 0 928602
St Paul Travelers Cos com 792860108 8 7954 sh 0 sole 0 7954
Stancorp Fin'l Group com 852891100 27 27000 sh 0 sole 0 27000
Station Casinos Inc com 857689103 235 234861 sh 0 sole 0 234861
Sterling Fin'l Corp/WA com 859319105 596 596037 sh 0 sole 0 596037
STMicroelectronics NV com 861012102 59 58950 sh 0 sole 0 58950
StreetTrack MS Tech ETF com 86330E703 11 11000 sh 0 sole 0 11000
SunTrust Banks Inc com 867914103 13 13000 sh 0 sole 0 13000
Taiwan Semi Manufact com 874039100 78 78004 sh 0 sole 0 78004
Taylor Capital Group com 876851106 303 303123 sh 0 sole 0 303123
TDK Corp com 872351408 10 9658 sh 0 sole 0 9658
TECO Energy Inc com 872375100 51 50975 sh 0 sole 0 50975
Tele LM Ericsson com 294821608 23 22667 sh 0 sole 0 22667
Tellabs Inc com 879664100 17 16500 sh 0 sole 0 16500
Teradyne Inc com 880770102 18 17775 sh 0 sole 0 17775
Texas Instruments Inc com 882508104 35 35200 sh 0 sole 0 35200
TF Fin'l Corp com 872391107 79 79287 sh 0 sole 0 79287
Thornburg Mortgage Inc com 885218107 326 325597 sh 0 sole 0 325597
TIBCO Software Inc com 88632Q103 12 11850 sh 0 sole 0 11850
Toll Brothers Inc com 889478103 603 603038 sh 0 sole 0 603038
Tower Group Inc com 891777104 110 110444 sh 0 sole 0 110444
TransCanada Corp com 89353D107 409 408700 sh 0 sole 0 408700
TRM Corp com 872636105 163 162774 sh 0 sole 0 162774
UGI Corp com 902681105 74 74025 sh 0 sole 0 74025
Union Pacific Corp com 907818108 3 3188 sh 0 sole 0 3188
Unisource Energy Corp com 909205106 6 6305 sh 0 sole 0 6305
United Western Bancorp com 5768191067239 238583 sh 0 sole 0 238583
UnumProvident Corp com 91529Y106 34 34000 sh 0 sole 0 34000
Valero Energy Corp com 91913Y100 5 5000 sh 0 sole 0 5000
Vectren Corp com 92240G101 101 100805 sh 0 sole 0 100805
VerticalNet Inc com 92532L206 152 152047 sh 0 sole 0 152047
Washington Federal Inc com 938824109 1125 1124734 sh 0 sole 0 1124734
Washington Mutual Inc com 939322103 7 7000 sh 0 sole 0 7000
WGL Holdings Inc com 92924F106 112 111900 sh 0 sole 0 111900
White River Capital Inc com 96445P105 28 28200 sh 0 sole 0 28200
Whittier Energy Corp com 966785305 1792 1792120 sh 0 sole 0 1792120
Whole Foods Market Inc com 966837106 10 10000 sh 0 sole 0 10000
Williams Cos Inc com 969457100 378 378400 sh 0 sole 0 378400
Wisconsin Energy Corp com 976657106 39 38825 sh 0 sole 0 38825
WPS Resources Corp com 92931B106 13 12980 sh 0 sole 0 12980
WSFS Fin'l Corp com 929328102 92 91748 sh 0 sole 0 91748
Xcel Energy Inc com 98389B100 106 106350 sh 0 sole 0 106350
Xilinx Inc com 983919101 17 16900 sh 0 sole 0 16900
Yardville National Bcp com 985021104 174 174118 sh 0 sole 0 174118
YM Biosciences Inc com 984238105 180 180086 sh 0 sole 0 180086
ZIOPHARM Oncology Inc com 98973P101 164 163930 sh 0 sole 0 163930