- Amended Statement of Ownership (SC 13G/A)

 SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, DC 20549

 SCHEDULE 13G/A

 Under the Securities Act of 1934




 99 Cents Only Stores
--------------------------------------------------------------------------------
 (Name of Issuer)


 COMMON STOCK, NO PAR VALUE
--------------------------------------------------------------------------------
 (Title of Class of Securities)


 65440K106
--------------------------------------------------------------------------------
 (CUSIP Number)


 December 31, 2010
--------------------------------------------------------------------------------
 (Date of Event Which Requires Filing of this Statement)


 Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

 [ ] Rule 13d-1(b)

 [x] Rule 13d-1(c)

 [_] Rule 13d-1(d)


----------
(1) 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 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).




________________________________________________________________________________
1. NAME OF REPORTING PERSONS


 FBR Capital Markets Corporation

________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [ ]

________________________________________________________________________________
3. SEC USE ONLY



________________________________________________________________________________


4. CITIZENSHIP OR PLACE OF ORGANIZATION

 VIRGINIA

________________________________________________________________________________
 NUMBER OF 5. SOLE VOTING POWER

 SHARES 0
 _________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
 3,820,235
 OWNED BY
 _________________________________________________________________
 EACH 7. SOLE DISPOSITIVE POWER

 REPORTING 0
 _________________________________________________________________
 PERSON 8. SHARED DISPOSITIVE POWER
 3,820,235
 WITH
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 3,820,235


________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 [_]

________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 5.45%

________________________________________________________________________________
12. TYPE OF REPORTING PERSON*

 CO

________________________________________________________________________________
 *SEE INSTRUCTIONS BEFORE FILLING OUT





________________________________________________________________________________
1. NAME OF REPORTING PERSONS

 FBR ASSET MANAGEMENT HOLDINGS, INC.


________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [ ]

________________________________________________________________________________
3. SEC USE ONLY



________________________________________________________________________________


4. CITIZENSHIP OR PLACE OF ORGANIZATION

 VIRGINIA

________________________________________________________________________________
 NUMBER OF 5. SOLE VOTING POWER
 0
 SHARES
 _________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
 3,820,235
 OWNED BY
 _________________________________________________________________
 EACH 7. SOLE DISPOSITIVE POWER
 0
 REPORTING
 _________________________________________________________________
 PERSON 8. SHARED DISPOSITIVE POWER
 3,820,235
 WITH
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 3,820,235


________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 [_]

________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 5.45%

________________________________________________________________________________
12. TYPE OF REPORTING PERSON*

 CO

________________________________________________________________________________
 *SEE INSTRUCTIONS BEFORE FILLING OUT!



________________________________________________________________________________
1. NAME OF REPORTING PERSONS

 FBR FUND ADVISERS, INC.


________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [ ]

________________________________________________________________________________
3. SEC USE ONLY



________________________________________________________________________________


4. CITIZENSHIP OR PLACE OF ORGANIZATION

 DELAWARE

________________________________________________________________________________
 NUMBER OF 5. SOLE VOTING POWER
 0
 SHARES
 _________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
 3,820,235
 OWNED BY
 _________________________________________________________________
 EACH 7. SOLE DISPOSITIVE POWER
 0
 REPORTING
 _________________________________________________________________
 PERSON 8. SHARED DISPOSITIVE POWER
 3,820,235
 WITH
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 3,820,235


________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 [_]

________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 5.45%

________________________________________________________________________________
12. TYPE OF REPORTING PERSON*

 IA

________________________________________________________________________________
 *SEE INSTRUCTIONS BEFORE FILLING OUT
Item 1(a). Name of Issuer:

 99 Cents Only Stores

 ____________________________________________________________________

Item 1(b). Address of Issuer's Principal Executive Offices:

 4000 East Union Pacific Avenue
 City of Commerce, CA 90023

 ____________________________________________________________________

Item 2(a). Name of Person Filing:

 FBR Capital Markets Corporation
 FBR Asset Management Holdings Inc.
 FBR Fund Advisers, Inc.

 ____________________________________________________________________

Item 2(b). Address of Principal Business Office, or if None, Residence:

 FBR Capital Markets Corporation
 FBR Asset Management Holdings Inc.
 FBR Fund Advisers, Inc.
 1001 Nineteenth Street North
 Arlington, VA 22209

 ____________________________________________________________________

Item 2(c). Citizenship:

 FBR Capital Markets Corporation
 FBR Asset Management Holdings Inc.

 Virginia

 FBR Fund Advisers, Inc.

 Delaware

 ____________________________________________________________________

Item 2(d). Title of Class of Securities:

 Common stock, no par value per share

 ____________________________________________________________________

Item 2(e). CUSIP Number:

 65440K106

 ____________________________________________________________________

Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
 or (c), Check Whether the Person Filing is a:

 (a) [_] Broker or dealer registered under Section 15 of the Exchange Act.

 (b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act.

 (c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange
 Act.

 (d) [_] Investment company registered under Section 8 of the Investment
 Company Act.

 (e) [_] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

 (f) [_] An employee benefit plan or endowment fund in accordance with
 Rule 13d-1(b)(1)(ii)(F);

 (g) [X] A parent holding company or control person in accordance with
 Rule 13d-1(b)(1)(ii)(G);

 (h) [_] A savings association as defined in Section 3(b) of the Federal
 Deposit Insurance Act;

 (i) [_] A church plan that is excluded from the definition of an
 investment company under Section 3(c)(14) of the Investment
 Company Act;

 (j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).







Item 4. Ownership.

 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:

 FBR Capital Markets Corporation 3,820,235
 FBR Asset Management Holdings Inc. 3,820,235
 FBR Fund Advisers, Inc. 3,820,235
 ______________________________________________________________________

 (b) Percent of class:

 FBR Capital Markets Corporation 5.45%
 FBR Asset Management Holdings Inc. 5.45%
 FBR Fund Advisers, Inc. 5.45%

 ______________________________________________________________________

 (c) Number of shares as to which such person has:

 (i) Sole power to vote or to direct the vote:

 FBR Capital Markets Corporation 0
 FBR Asset Management Holdings Inc. 0
 FBR Fund Advisers, Inc. 0



 (ii) Shared power to vote or to direct the vote:



 FBR Capital Markets Corporation 3,820,235
 FBR Asset Management Holdings Inc. 3,820,235
 FBR Fund Advisers, Inc. 3,820,235



 (iii) Sole power to dispose or to direct the disposition of:



 FBR Capital Markets Corporation 0
 FBR Asset Management Holdings Inc. 0
 FBR Fund Advisers, Inc. 0




 (iv) Shared power to dispose or to direct the disposition of:



 FBR Capital Markets Corporation 3,820,235
 FBR Asset Management Holdings Inc. 3,820,235
 FBR Fund Advisers, Inc. 3,820,235





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 [ ].

 Not Applicable
 _______________________________________________________________________

Item 6. Ownership of More Than Five Percent on Behalf of Another Person.

 Not Applicable.

 _______________________________________________________________________

Item 7. Identification and Classification of the Subsidiary Which Acquired the
 Security Being Reported on by the Parent Holding Company or Control
 Person.


 FBR Fund Advisers, Inc.
 _______________________________________________________________________

Item 8. Identification and Classification of Members of the Group.

 Not Applicable.

 _______________________________________________________________________

Item 9. Notice of Dissolution of Group.

 Not Applicable.

 ______________________________________________________________________

Item 10. Certifications.


 "By signing below I certify that, to the best of my knowledge and
 belief, the securities referred to above 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 such purpose or effect."


 SIGNATURE

 After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

 February 11, 2011
 ----------------------------------------

 (Date)




 FBR Capital Markets Corporation*


 /s/ Ann Marie Pulsch
 ----------------------------------------
 (Signature)

 Ann Marie Pulsch
 Corporate Secretary
 ----------------------------------------
 (Name/Title)


 FBR Asset Management Holdings, Inc.*


 /s/ Ann Marie Pulsch
 ----------------------------------------
 (Signature)

 Ann Marie Pulsch
 Corporate Secretary
 ----------------------------------------
 (Name/Title)



 FBR Fund Advisers, Inc.*


 /s/ Winsor H. Aylesworth
 ----------------------------------------
 (Signature)

 Winsor H. Aylesworth
 Treasurer and Corporate Secretary
 ----------------------------------------
 (Name/Title)

*The Reporting Persons disclaim beneficial ownership in the shares represented
herein except to the extent of their pecuniary interest therein.

Note. Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other parties
for whom copies are to be sent.

Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).



 Exhibit A


 AGREEMENT


 The undersigned certify, after reasonable inquiry and to the best knowledge
and blief of the undersigned, that the information set forth in this Statement is
true, complete and correct. The undersigned agree to the filing of this single
Statement on Schedule 13G/A


FBR CAPITAL MARKETS CORPORATION*


 /s/ Ann Marie Pulsch
By:___________________________________
Name: Ann Marie Pulsch
Title: Corporate Secretary


FBR ASSET MANAGEMENT HOLDINGS, INC.


 /s/ Ann Marie Pulsch
By:___________________________________
Name: Ann Marie Pulsch
Title: Corporate Secretary



FBR FUND ADVISERS, INC.*


 /s/ Winsor H. Aylesworth
By:___________________________________
Name: Winsor H. Aylesworth
Title: Treasurer and Corporate Secretary


*The Reporting Persons disclaim beneficial ownership in the shares reported
herein except to the extent of their pecuniary interest therein