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<SEC-DOCUMENT>0001140361-08-027482.txt : 20081210
<SEC-HEADER>0001140361-08-027482.hdr.sgml : 20081210
<ACCEPTANCE-DATETIME>20081210153731
ACCESSION NUMBER:		0001140361-08-027482
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20081210
DATE AS OF CHANGE:		20081210

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Huffington Michael
		CENTRAL INDEX KEY:			0001451454

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		281-888-2390

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 4337
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77210

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DYNEX CAPITAL INC
		CENTRAL INDEX KEY:			0000826675
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				521549373
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			0709

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-41043
		FILM NUMBER:		081241034

	BUSINESS ADDRESS:	
		STREET 1:		4551 COX RD
		STREET 2:		STE 300
		CITY:			GLEN ALLEN
		STATE:			VA
		ZIP:			23060
		BUSINESS PHONE:		8042175815

	MAIL ADDRESS:	
		STREET 1:		4551 COX RD
		STREET 2:		STE 300
		CITY:			GLEN ALLEN
		STATE:			VA
		ZIP:			23060

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RESOURCE MORTGAGE CAPITAL INC/VA
		DATE OF NAME CHANGE:	19930722

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RESOURCE MORTGAGE INVESTMENT CORP
		DATE OF NAME CHANGE:	19930505

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RAC MORTGAGE INVESTMENT CORP /VA/
		DATE OF NAME CHANGE:	19930505
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>doc1.htm
<TEXT>
<html><head><title>Schedule 13G</title><meta name="description" content="Schedule 13G" /><meta name="generator" content="Online EDGARforms by EDGARfilings, Ltd." /></head><body style="width:760px; margin:0 auto; font-family:'Times New Roman', Times, serif; font-size:12px; line-height:1.3em;"><div style="border-top:4px solid #000; padding-top:8px; line-height:normal;"><p style="text-align:center; font-size:16px; font-weight:bold;">
						United States<br />
						Securities and Exchange Commission<br />
						Washington, D.C. 20549
					</p><h1 style="text-align:center; margin-bottom:0;">Schedule 13G</h1><p style="margin-top:0; text-align:center; font-size:14px; font-weight:bold;">
						Under the Securities Exchange Act of 1934<br />
						(Amendment No.
						<font style="border-bottom:1px solid #000; padding:0 1em;">
									n/a
								</font>)*
					</p></div><table cellspacing="5" style="width: 20%; margin:.5em 40%; text-align:center;"><tr><td style="border:1px solid #000; padding:5px 10px;"><strong>OMB Number</strong><br />
							3235-0145
						</td></tr></table><dl style="text-align:center;"><dd style="width:100%; float:none; margin-left:0; margin-bottom:0; border-bottom:1px solid #000; font-size:24px; font-weight:bold; line-height:normal; text-align:center;">DYNEX CAPITAL INC</dd><dt style="width:100%; float:none; text-align:center; margin-bottom:1em;">(Name of Issuer)</dt><dd style="width:100%; float:none; text-align:center; margin-left:0; margin-bottom:0; border-bottom:1px solid #000; font-weight:bold;">Common Stock</dd><dt style="width:100%; float:none; text-align:center; margin-bottom:1em;">(Title of Class of Securities)</dt><dd style="width:100%; float:none; text-align:center; margin-left:0; margin-bottom:0; border-bottom:1px solid #000; font-weight:bold;">26817Q506</dd><dt style="width:100%; float:none; text-align:center; margin-bottom:1em;">(CUSIP Number)</dt><dd style="width:100%; float:none; text-align:center; margin-left:0; margin-bottom:0; border-bottom:1px solid #000; font-weight:bold;">November&#160;28,&#160;2008</dd><dt style=
"width:100%; float:none; text-align:center; margin-bottom:1em;">(Date of Event which Requires Filing of this Statement)</dt></dl><p style="clear:both;">
					Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
				</p><table cellpadding="0" cellspacing="0"><tr><td style="width:3em;"><font style="display:block; border:1px solid #000; padding:0 4px; width:1.5em;">
										&#8194;
									</font></td><td>Rule 13d-1(b)</td></tr><tr><td><font style="display:block; border:1px solid #000; padding:0 4px; width:1.5em;">
										&#8730;
									</font></td><td>Rule 13d-1(c)</td></tr><tr><td><font style="display:block; border:1px solid #000; padding:0 4px; width:1.5em;">
										&#8194;
									</font></td><td>Rule 13d-1(d)</td></tr></table><p>
					* 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.
				</p><p>
					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).
				</p><p style="page-break-before:always; border-top:4px solid #000; border-bottom:1px solid #000; margin-top:2em; padding-top:1em;">
						CUSIP No. <font style="font-weight:bold;">26817Q506</font></p><ol><li style="margin-bottom:1em;">
							Names of Reporting Persons.<br />
							I.R.S. Identification Nos. of above persons (entities only).

							<p style="margin-top:.5em; border-bottom:1px solid #000; font-weight:bold;">Huffington Michael<br /><em>00-0000000</em></p></li><li style="margin-bottom:1em;">
							Check the Appropriate Box if a Member of a Group (See Instructions)
							<ol style="list-style:lower-alpha;"><li style="margin: 4px 0;"><font style="display:block; width:.75em; border:1px solid #000; padding:0 4px;">
												&#8194;
											</font></li><li style="margin: 4px 0;"><font style="display:block; width:.75em; border:1px solid #000; padding:0 4px;">
												&#8194;
											</font></li></ol></li><li style="margin-bottom:1em;">SEC Use Only</li><li style="margin-bottom:1em;">
							Citizenship or Place of Organization
							<p style="margin-top:.5em; border-bottom:1px solid #000;">USA</p></li></ol><div><p style="width:8%; float:left; padding-top:2.5em; padding-left:2%;">Number of Shares Beneficially Owned by Each Reporting Person With:</p><div style="width:89%; float:right;"><ol start="5"><li style="margin-bottom:1em;">
									Sole Voting Power
									<p style="margin-top:.5em; border-bottom:1px solid #000;">750000</p></li><li style="margin-bottom:1em;">
									Shared Voting Power
									<p style="margin-top:.5em; border-bottom:1px solid #000;">N/A</p></li><li style="margin-bottom:1em;">
									Sole Dispositive Power
									<p style="margin-top:.5em; border-bottom:1px solid #000;">750000</p></li><li style="margin-bottom:1em;">
									Shared Dispositive Power
									<p style="margin-top:.5em; border-bottom:1px solid #000;">N/A</p></li></ol></div></div><ol start="9" style="clear:both;"><li style="margin-bottom:1em;">
							Aggregate Amount Beneficially Owned by Each Reporting Person
							<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">750000</p></li><li style="margin-bottom:1em;">
							Check if the Aggregate Amount in <em>Row 9</em> Excludes Certain Shares (See Instructions)
							&#160;
							<font style="border:1px solid #000; padding:0 4px; font-size:10px; line-height:1em;">
										&#8194;
									</font></li><li style="margin-bottom:1em;">
							Percent of Class Represented by Amount in <em>Row 9</em><p style="margin-top:.5em; border-bottom:1px solid #000;">6.2%</p></li><li style="margin-bottom:1em;">
							Type of Reporting Person (See Instructions)
							<p style="margin-top:.5em; border-bottom:1px solid #000;">IN</p></li></ol><div style="page-break-after:always;">&#160;</div><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em;">Item 1.</h3><ol style="list-style:lower-alpha;"><li style="margin-bottom:1em;">
								Name of Issuer
								<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">Dynex Capital, Inc.</p></li><li style="margin-bottom:1em;">
								Address of Issuer's Principal Executive Offices
								<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">4551 Cox Road, Suite 300
<br />Glen Allen, VA 23060</p></li></ol><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em;">Item 2.</h3><ol style="list-style:lower-alpha;"><li style="margin-bottom:1em;">
								Name of Person Filing
								<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">Michael Huffington</p></li><li style="margin-bottom:1em;">
								Address of Principal Business Office or, if None, Residence
								<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">P.O. Box 4337
<br />Houston TX 77210</p></li><li style="margin-bottom:1em;">
								Citizenship
								<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">USA</p></li><li style="margin-bottom:1em;">
								Title of Class of Securities
								<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">Common Stock</p></li><li style="margin-bottom:1em;">
								CUSIP Number
								<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">26817Q506</p></li></ol><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em;">
					Item 3. If this statement is filed pursuant to &#167;&#167;240.13d-1(b) or 240.13d-2(b) or (c), check whether
					the person filing is a:
				</h3><ol style="list-style:lower-alpha;"><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;An investment adviser in accordance with &#167;240.13d-1(b)(1)(ii)(E);
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;An employee benefit plan or endowment fund in accordance with &#167;240.13d-1(b)(1)(ii)(F);
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;A parent holding company or control person in accordance with &#167;240.13d-1(b)(1)(ii)(G);
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;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);
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;Group, in accordance with &#167;240.13d-1(b)(1)(ii)(J).
					</li></ol><h3 style="page-break-before:always; border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em;">Item 4. Ownership</h3><ol style="list-style:lower-alpha;"><li style="margin-bottom:1em; page-break-inside:avoid;">
						Amount beneficially owned:
						<p style="margin-top:.5em; border-bottom:1px solid #000;">750000</p></li><li style="margin-bottom:1em; page-break-inside:avoid;">
						Percent of class:
						<p style="margin-top:.5em; border-bottom:1px solid #000;">6.2%</p></li><li style="margin-bottom:1em; page-break-inside:avoid;">
						Number of shares as to which the person has:

						<ol style="list-style:lower-roman; margin-top:1em;"><li style="margin-bottom:1em; page-break-inside:avoid;">
								Sole power to vote or to direct the vote:
								<p style="margin-top:.5em; border-bottom:1px solid #000;">750000</p></li><li style="margin-bottom:1em; page-break-inside:avoid;">
								Shared power to vote or to direct the vote:
								<p style="margin-top:.5em; border-bottom:1px solid #000;">N/A</p></li><li style="margin-bottom:1em; page-break-inside:avoid;">
								Sole power to dispose or to direct the disposition of:
								<p style="margin-top:.5em; border-bottom:1px solid #000;">750000</p></li><li style="margin-bottom:1em; page-break-inside:avoid;">
								Shared power to dispose or to direct the disposition of:
								<p style="margin-top:.5em; border-bottom:1px solid #000;">N/A</p></li></ol></li></ol><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em;">Item 5. Ownership of Five Percent or Less of a Class</h3><p style="margin-top:0;">
					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&#160;
					<font style="border:1px solid #000; padding:0 4px;">
								&#8194;
							</font>.
				</p><p style="text-indent:40px"></p><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em;">Item 6. Ownership of More than Five Percent on Behalf of Another Person.</h3><p style="text-indent:40px">
									&#160;
								</p><h3 style="page-break-before:always; border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em; clear:both;">
					Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the
					Parent Holding Company
				</h3><p style="padding-bottom:.5em; line-height:1.3em; text-indent:40px">
									&#160;
								</p><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em; clear:both;">Item 8. Identification and Classification of Members of the Group</h3><p style="padding-bottom:.5em; line-height:1.3em; text-indent:40px">
									&#160;
								</p><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em; clear:both;">Item 9. Notice of Dissolution of Group</h3><p style="padding-bottom:.5em; line-height:1.3em; text-indent:40px">
									&#160;
								</p><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em;">Item 10. Certification</h3><blockquote style="margin-top:.5em;"><p style="margin:0; line-height:1.3em;">
								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 that purpose or effect.
							</p></blockquote><h3 style="page-break-before:always; border-top:4px solid #000; margin:2em 0 1em 0; padding-top:1em; font-weight:normal; font-style:italic; line-height:1.3em;">Signature</h3><p style="margin-top:0;">
					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.
				</p><dl><dd style="margin-left:0; border-bottom:1px solid #000; font-weight:bold; font-size:14px; line-height:normal; width:100%; float:none; margin-bottom:0;">December&#160;10,&#160;2008</dd><dt style="margin-bottom:1em; width:100%; float:none; font-weight:normal; text-align:left;">Date</dt><dd style="margin-left:0; border-bottom:1px solid #000; font-weight:bold; font-size:14px; line-height:normal; width:100%; float:none; margin-bottom:0;">
							/s/&#160;Michael Huffington</dd><dt style="margin-bottom:1em; width:100%; float:none; font-weight:normal; text-align:left;">Signature</dt><dd style="margin-left:0; border-bottom:1px solid #000; font-weight:bold; font-size:14px; line-height:normal; width:100%; float:none; margin-bottom:0;">Michael Huffington</dd><dt style="margin-bottom:1em; width:100%; float:none; font-weight:normal; text-align:left;">Name / Title</dt></dl><p><em>NOTE</em>: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.
					<em>See</em> &#167;240.13d-7 for other parties for whom copies are to be sent.
				</p><p style="margin-bottom:0; border-bottom:6px solid #000; padding-bottom:2em; text-align:center; font-weight:bold;">
					Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)
				</p></body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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