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<SEC-DOCUMENT>0000936872-09-000067.txt : 20090416
<SEC-HEADER>0000936872-09-000067.hdr.sgml : 20090416
<ACCEPTANCE-DATETIME>20090416151342
ACCESSION NUMBER:		0000936872-09-000067
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20090416
DATE AS OF CHANGE:		20090416

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:		09753623

	BUSINESS ADDRESS:	
		STREET 1:		4991 LAKE BROOK DRIVE
		STREET 2:		STE 100
		CITY:			GLEN ALLEN
		STATE:			VA
		ZIP:			23060
		BUSINESS PHONE:		8042175830

	MAIL ADDRESS:	
		STREET 1:		4991 LAKE BROOK DRIVE
		STREET 2:		STE 100
		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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BAY POND PARTNERS L P
		CENTRAL INDEX KEY:			0000936872
		IRS NUMBER:				043217743
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		75 STATE STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		6179515000

	MAIL ADDRESS:	
		STREET 1:		75 STATE STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>sec_filing.htm
<DESCRIPTION>SEC FILING
<TEXT>






<html>
	<head>
		<title></title>
	</head>
	<body>


		<div align="center">
			<h4>
UNITED STATES<br />
SECURITIES AND EXCHANGE COMMISSION<br />
Washington, D.C.  20549
			</h4>
			<h3>
SCHEDULE 13G<br />
			</h3>
			<h4>
Under the Securities Exchange Act of 1934
			</h4>
			<h4>
(Amendment No.
	_)<sup>*</sup>
			</h4>
            <pre>
            </pre>


			<p>
Dynex Capital, Inc.<br />
<hr width="80%" noshade="true" />
<FONT class="force">
(Name of Issuer)
</FONT>
			</p>
	        <p>
Common Stock<br />
<hr width="80%" noshade="true" />
<FONT class="force">
(Title of Class of Securities)
</FONT>
			</p>
			<p>
26817Q506<br />
<hr width="80%" noshade="true" />
<FONT class="force">
(CUSIP Number)
</FONT>
			</p>
	        <p>





        April


        6,

        2009
    <br />
<hr width="80%" noshade="true" />
<FONT class="force">
(Date of Event Which Requires Filing of this Statement)
</FONT>
			</p>
		</div>

		<div>
			<p>
Check the  appropriate box to designate the rule
pursuant to which this Schedule is filed:<br /><br />
                <table border="0" cellspacing="0" cellpadding="4">
                    <tr>
                        <td>
[ ]
                        </td>
                        <td>
Rule 13d-1(b)
                        </td>
                    </tr>
                    <tr>
                        <td>
[X]
                        </td>
                        <td>
Rule 13d-1(c)
                        </td>
                    </tr>
                    <tr>
                        <td>
[ ]
                        </td>
                        <td>
Rule 13d-1(d)
                        </td>
                    </tr>
                </table>
			</p>
		</div>

		<div>
			<p><sup>*</sup>
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 (the "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>
		</div>


<p style="page-break-before:always">
<hr width="100%" noshade="true" color="gray" size="1" />
</p>
        <table>
            <tr>
                <td colspan="2">
CUSIP No.
                </td>
                <td colspan="4">
26817Q506
                </td>
            </tr>
        </table>

		<p />
<table style="border-collapse: collapse" frame="hsides" cellpadding="8">
			<tr>
				<td width="10%" valign="top">
1.
				</td>
				<td colspan="3">
NAMES OF REPORTING PERSONS<br />
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)<br /><br />
Bay Pond Partners, L.P.<br />
37-1406661
				</td>
			</tr>
			<tr>
				<td width="10%" valign="top">
2.
				</td>
				<td colspan="3">
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP<br /><br />
(a)  [ ]<br />
(b)  [ ]
				</td>
			</tr>
			<tr>
				<td width="10%" valign="top">
3.
				</td>
				<td colspan="3">
SEC USE ONLY
				</td>
			</tr>
			<tr>
				<td width="10%" valign="top">
4.				</td>
				<td colspan="3">
CITIZENSHIP OR PLACE OF ORGANIZATION<br /><br />
Delaware
				</td>
			</tr>
			<tr>
				<td width="15%" colspan="2" rowspan="4">
					<p>
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
					</p>
				</td>
				<td>
5. SOLE VOTING POWER
                </td>
                <td>
0
                </td>
			</tr>
			<tr>
				<td>
6.  SHARED VOTING POWER
                </td>
                <td>
951,323
                </td>
			</tr>
			<tr>
				<td>
7.  SOLE DISPOSITIVE POWER</td>
                <td>
0
                </td>
			</tr>
			<tr>
				<td>
8.  SHARED DISPOSITIVE POWER
                </td>
                <td>
951,323
                </td>
			</tr>
			<tr>
				<td width="10%" valign="top">
9.
                </td>
				<td colspan="3">
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br /><br />
951,323
				</td>
			</tr>
			<tr>
				<td width="10%" valign="top">
10.
                </td>
				<td colspan="3">
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES<br /><br />
[ ]
				</td>
			</tr>
			<tr>
				<td width="10%" valign="top">
11.
                </td>
				<td colspan="3">
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)<br /><br />
7.31%
				</td>
			</tr>
			<tr>
				<td width="10%" valign="top">
12.
                </td>
				<td colspan="3">
TYPE OF REPORTING PERSON<br /><br />
PN
				</td>
			</tr>
		</table>


<p style="page-break-before:always">
<hr width="100%" noshade="true" color="gray" size="1" />
</p>
        <table>
            <tr>
                <td colspan="2">
CUSIP No.
                </td>
                <td colspan="4">
26817Q506
                </td>
            </tr>
        </table>

		<p />
<table style="border-collapse: collapse" frame="hsides" cellpadding="8">
			<tr>
				<td width="10%" valign="top">
1.
				</td>
				<td colspan="3">
NAMES OF REPORTING PERSONS<br />
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)<br /><br />


Wellington Hedge Management, LLC<br />
04-3215301


				</td>
			</tr>
			<tr>
				<td width="10%" valign="top">
2.
				</td>
				<td colspan="3">
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP<br /><br />
(a)  [ ]<br />
(b)  [ ]
				</td>
			</tr>
			<tr>
				<td width="10%" valign="top">
3.
				</td>
				<td colspan="3">
SEC USE ONLY
				</td>
			</tr>
			<tr>
				<td width="10%" valign="top">
4.				</td>
				<td colspan="3">
CITIZENSHIP OR PLACE OF ORGANIZATION<br /><br />


Massachusetts


				</td>
			</tr>
			<tr>
				<td width="15%" colspan="2" rowspan="4">
					<p>
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
					</p>
				</td>
				<td>
5. SOLE VOTING POWER
                </td>
                <td>
0
                </td>
			</tr>
			<tr>
				<td>
6.  SHARED VOTING POWER
                </td>
                <td>
951,323
                </td>
			</tr>
			<tr>
				<td>
7.  SOLE DISPOSITIVE POWER</td>
                <td>
0
                </td>
			</tr>
			<tr>
				<td>
8.  SHARED DISPOSITIVE POWER
                </td>
                <td>
951,323
                </td>
			</tr>
			<tr>
				<td width="10%" valign="top">
9.
                </td>
				<td colspan="3">
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br /><br />
951,323
				</td>
			</tr>
			<tr>
				<td width="10%" valign="top">
10.
                </td>
				<td colspan="3">
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES<br /><br />
[ ]
				</td>
			</tr>
			<tr>
				<td width="10%" valign="top">
11.
                </td>
				<td colspan="3">
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)<br /><br />
7.31%
				</td>
			</tr>
			<tr>
				<td width="10%" valign="top">
12.
                </td>
				<td colspan="3">
TYPE OF REPORTING PERSON<br /><br />
CO
				</td>
			</tr>
		</table>








<p style="page-break-before:always" />
		<table cellpadding="4">
			<tr>
				<td colspan="5" align="left" valign="top">
<b>Item 1.</b>
				</td>
            </tr>
            <tr>
                <td>
                </td>
				<td align="left" valign="top">
<b>(a)</b>
				</td>
				<td colspan="3">
<b>Name of Issuer</b><br />
Dynex Capital, Inc.
				</td>
			</tr>
			<tr>
                <td>
                </td>
				<td align="left" valign="top">
<b>(b)</b>
				</td>
				<td colspan="3">
<b>Address of Issuer's Principal Executive Offices</b><br />
4991 Lake Brook Drive<br />
Suite 100<br />
Glen Allen, VA
  23060
				</td>
			</tr>
			<tr>
				<td colspan="5" align="left" valign="top">
<b>Item 2.</b>
				</td>
            </tr>
			<tr>
                <td>
                </td>
				<td align="left" valign="top">
<b>(a)</b>
				</td>
				<td colspan="3">
<b>Name of Person Filing</b><br />


		This schedule is filed on behalf of
		Bay Pond Partners, L.P. (''Bay Pond Partners''),
		a
		Delaware
		limited partnership and
		Wellington Hedge Management, LLC (''WHML''),
		a Massachusetts limited liability company
		which is the sole general partner of
		Bay Pond Partners.


                </td>
			</tr>
			<tr>
                <td>
                </td>
				<td align="left" valign="top">
<b>(b)</b>
				</td>
				<td colspan="3">
<b>Address of Principal Business Office or, if None, Residence</b><br />
c/o Wellington Management Company, LLP<br />
75 State Street<br />
Boston, MA
  02109
				</td>
			</tr>
			<tr>
                <td>
                </td>
				<td align="left" valign="top">
<b>(c)</b>
				</td>
				<td colspan="3">
<b>Citizenship</b><br />
Delaware
				</td>
			</tr>
			<tr>
                <td>
                </td>
				<td align="left" valign="top">
<b>(d)</b>
				</td>
				<td colspan="3">
<b>Title of Class of Securities</b><br />
Common Stock
				</td>
			</tr>
			<tr>
                <td>
                </td>
				<td align="left" valign="top">
<b>(e)</b>
				</td>
				<td colspan="3">
<b>CUSIP Number</b><br />
26817Q506
				</td>
			</tr>
			<tr>
				<td width="12%" align="left" valign="top">
<b>Item 3.</b>
				</td>
				<td colspan="4">
<b>If This Statement is Filed Pursuant to
Rule 13d-1(b), or 13d-2(b) or (c),
Check Whether the Person Filing is a:</b>
                </td>
            </tr>
            <tr>
                <td>
                </td>
                <td align="left" valign="top">
(a)
                </td>
                <td align="left" valign="top">
[ ]
                </td>
                <td colspan="2" align="left" valign="top">
Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).
                </td>
            </tr>
            <tr>
                <td>
                </td>
                <td align="left" valign="top">
(b)
                </td>
                <td align="left" valign="top">
[ ]
                </td>
                <td colspan="2" align="left" valign="top">
Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
                </td>
            </tr>
            <tr>
                <td>
                </td>
                <td align="left" valign="top">
(c)
                </td>
                <td align="left" valign="top">
[ ]
                </td>
                <td colspan="2" align="left" valign="top">
Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c).
                </td>
            </tr>
            <tr>
                <td>
                </td>
                <td align="left" valign="top">
(d)
                </td>
                <td align="left" valign="top">
[ ]
                </td>
                <td colspan="2" align="left" valign="top">
Investment Company registered under
Section 8 of the Investment Company Act of 1940
(15 U.S.C. 80a-8).
                </td>
            </tr>
            <tr>
                <td>
                </td>
                <td align="left" valign="top">
(e)
                </td>
                <td align="left" valign="top">
[ ]
                </td>
                <td colspan="2" align="left" valign="top">
An investment adviser in accordance with
Rule 240.13d-1(b)(1)(ii)(E);
                </td>
            </tr>
            <tr>
                <td>
                </td>
                <td align="left" valign="top">
(f)
                </td>
                <td align="left" valign="top">
[ ]
                </td>
                <td colspan="2" align="left" valign="top">
An employee benefit plan or endowment fund in accordance with
Rule 240.13d-1(b)(1)(ii)(F);
                </td>
            </tr>
            <tr>
                <td>
                </td>
                <td align="left" valign="top">
(g)
                </td>
                <td align="left" valign="top">
[ ]
                </td>
                <td colspan="2" align="left" valign="top">
A parent holding company or control person in accordance with
Rule 240.13d-1(b)(1)(ii)(G);
                </td>
            </tr>
            <tr>
                <td>
                </td>
                <td align="left" valign="top">
(h)
                </td>
                <td align="left" valign="top">
[ ]
                </td>
                <td colspan="2" align="left" valign="top">
A savings association as defined in
Section 3(b) of the Federal Deposit Insurance Act
(12 U.S.C. 1813);
                </td>
            </tr>
            <tr>
                <td>
                </td>
                <td align="left" valign="top">
(i)
                </td>
                <td align="left" valign="top">
[ ]
                </td>
                <td colspan="2" align="left" valign="top">
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);
                </td>
            </tr>
            <tr>
                <td>
                </td>
                <td align="left" valign="top">
(j)
                </td>
                <td align="left" valign="top">
[ ]
                </td>
                <td colspan="2" align="left" valign="top">
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(J).
                </td>
            </tr>
            <tr>
                <td>
                </td>
                <td align="left" valign="top">

                </td>
                <td colspan="3" align="left" valign="top">
If this statement is filed pursuant to Rule 13d-1(c),
check this box [X]
                </td>
            </tr>
			<tr>
				<td width="12%" align="left" valign="top">
<b>Item 4.</b>
				</td>
				<td colspan="4">
<b>Ownership.</b>
                </td>
            </tr>
            <tr>
                <td colspan="5">
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
                </td>
            </tr>
            <tr>
                <td>
                </td>
                <td>
(a)
                </td>
                <td colspan="3">
Amount Beneficially Owned:
                </td>
            </tr>
            <tr>
                <td colspan="2">
                </td>
                <td colspan="3">



Bay Pond Partners
and WHML


each may be deemed to beneficially own
951,323
shares of the Common Stock of the Issuer.

                </td>
            </tr>
            <tr>
                <td>
                </td>
                <td>
(b)
                </td>
                <td colspan="3">
Percent of Class:
                </td>
            </tr>
            <tr>
                <td colspan="2">
                </td>
                <td colspan="3">
7.31%
                </td>
            </tr>
            <tr>
                <td>
                </td>
                <td>
(c)
                </td>
                <td colspan="3">
Number of shares as to which such person has:
                </td>
            </tr>
            <tr>
                <td colspan="2">
                </td>
                <td>
(i)
                </td>
                <td>
sole power to vote or to direct the vote
                </td>
                <td>
0
                </td>
            </tr>
            <tr>
                <td colspan="2">
                </td>
                <td>
(ii)
                </td>
                <td>
shared power to vote or to direct the vote
                </td>
                <td>
951,323
                </td>
            </tr>
            <tr>
                <td colspan="2">
                </td>
                <td>
(iii)
                </td>
                <td>
sole power to dispose or to direct the disposition of
                </td>
                <td>
0
                </td>
            </tr>
            <tr>
                <td colspan="2">
                </td>
                <td>
(iv)
                </td>
                <td>
shared power to dispose or to direct the disposition of
                </td>
                <td>
951,323
                </td>
            </tr>
			<tr>
				<td align="left" valign="top">
<b>Item 5.</b>
				</td>
				<td colspan="4">
<b>Ownership of Five Percent or Less of Class.</b>
				</td>
            </tr>
            <tr>
                <td>
                </td>
				<td colspan="4">
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:
[ ]
				</td>
			</tr>
			<tr>
				<td align="left" valign="top">
<b>Item 6.</b>
				</td>
				<td colspan="4">
<b>Ownership of More than Five Percent on Behalf of Another Person.</b>
				</td>
            </tr>
            <tr>
                <td>
                </td>
				<td colspan="4">

Not Applicable.
				</td>
			</tr>
			<tr>
				<td align="left" valign="top">
<b>Item 7.</b>
				</td>
				<td colspan="4">
<b>Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.</b>
				</td>
            </tr>
            <tr>
                <td>
                </td>
				<td colspan="4">
Not Applicable.
				</td>
			</tr>
			<tr style="page-break-before:always">
				<td align="left" valign="top">
<b>Item 8.</b>
				</td>
				<td colspan="4">
<b>Identification and Classification of Members of the Group.</b><br />
<br />
Not Applicable.
				</td>
			</tr>
			<tr>
				<td align="left" valign="top">
<b>Item 9.</b>
				</td>
				<td colspan="4">
<b>Notice of Dissolution of Group.</b><br />
<br />
Not Applicable.
				</td>
			</tr>
			<tr>
				<td align="left" valign="top">
<b>Item 10.</b>
				</td>
				<td colspan="4">
<b>Certification.</b><br />
<br />
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.
				</td>
			</tr>
		</table>



<p>
</p>

<h4 align="center">SIGNATURE</h4>
<table>
    <tr>
        <td width="10%"> </td>
        <td>
            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.
        </td>
        <td width="10%"> </td>
    </tr>
</table>
<p />
<table>
    <tr>
        <td width="60%"> </td>
        <td>
            By:  Bay Pond Partners, L.P.<br />
        </td>
    </tr>
    <tr>
        <td width="60%"> </td>
        <td>
            <br />
        </td>
    </tr>
    <tr>
        <td width="60%"> </td>
        <td>

            By: Wellington Hedge Management, LLC<br />
            Its General Partner<br />

        </td>
    </tr>


	<tr>
        <td width="60%"> </td>
        <td>
            By:  /s/ Gregory S. Konzal<br />
        </td>
    </tr>
    <tr>
        <td width="60%"> </td>
        <td>
            --------------------------------------<br />
        </td>
    </tr>
    <tr>
        <td width="60%"> </td>
        <td>
            Name:    Gregory S. Konzal<br />
        </td>
    </tr>
    <tr>
        <td width="60%"> </td>
        <td>
            Title:   Vice President<br />
        </td>
    </tr>
    <tr>
        <td width="60%"> </td>
        <td>
            Date:




        April


        16,

        2009
    <br />
        </td>
    </tr>
</table>


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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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