Dynex Capital

DX • NYSE

Dynex Capital is a reit - mortgage company in the real estate sector on NYSE, led by Byron L. Boston, with a market cap of $2.0B. As of Q3 2025, 47% of shares are held by 205 institutional investors, with BlackRock, Inc. as the largest holder at 8.99%.

Chief Executive OfficerByron L. Boston

Market Cap$2.0B

REIT - Mortgage

Real Estate

Employees22.0

Websitedynexcapital.com

Country

United States of America

Overview

Overview of institutional ownership in DX as of Q3 2025 with a market cap of $1.6B

All Institutions

Institutions: 205
Value Held: $757.5M
Shares Held: 61.6M
Avg Position: $3.7M
Median Position: $336.5K

Hedge Funds

Hedge Funds: 24
Value Held: $80.4M
Shares Held: 6.5M
Avg Position: $3.3M
Median Position: $764.6K

Ownership Breakdown

Institutional (non-HF)

42.41%

$677.1M

Hedge Funds

5.03%

$80.4M

Retail & Other

52.56%

$839.2M

Based on market cap of $1.6B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in DX as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$143.5M 0.00% of portfolio	8.99% 11.7M shares	Q1 2016 Held for 9y 8m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$92.3M 0.00% of portfolio	5.78% 7.5M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$39.7M 0.00% of portfolio	2.49% 3.2M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$33.9M 0.00% of portfolio	2.09% 2.7M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
R ROYAL BANK OF CANADA Institution	-	$29.2M 0.01% of portfolio	1.83% 2.4M shares	≤ Q2 2013 Held for 12y 5m+	$542.04B
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dan Michael Berkovitz Chairman	$27.5M 0.02% of portfolio	1.72% 2.2M shares	Q2 2022 Held for 3y 5m	$121.98B
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$21.3M 0.00% of portfolio	1.34% 1.7M shares	Q3 2024 Held for 1y 2m	$433.11B
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	David Craig Brown CEO	$21.1M 0.01% of portfolio	1.32% 1.7M shares	Q3 2019 Held for 6y 2m	$158.22B
A Algebris Ltd Institution	-	$20.5M 2.56% of portfolio	1.28% 1.7M shares	Q1 2024 Held for 1y 8m	$799.8M
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$18.9M 0.00% of portfolio	1.18% 1.5M shares	≤ Q2 2013 Held for 12y 5m+	$633.08B

Net Capital Flow

Institutional buying and selling activity for DX in Q3 2025

Traded: +$122.4M
Buyers: 142
Sellers: 68
Total Bought: +$172.8M
Total Sold: −$50.4M
Avg Position: $3.2M

Biggest Buyers

Institution	Net Bought	Current Position
B BlackRock, Inc. Institution	+$29.9M +2.4M shares	$143.5M 11.7M shares
VANGUARD GROUP INC Institution	+$16.2M +1.3M shares	$92.3M 7.5M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$12.2M +992.3K shares	$27.5M 2.2M shares
R ROYAL BANK OF CANADA Institution	+$9.3M +760.3K shares	$29.2M 2.4M shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$9.1M +737.6K shares	$14.0M 1.1M shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	+$8.7M +705.6K shares	$39.7M 3.2M shares
E EMG Holdings, L.P. Institution	+$8.6M +695.7K shares	$8.6M 695.7K shares
A Algebris Ltd Institution	+$8.4M +682.7K shares	$20.5M 1.7M shares
MetLife Investment Advisors, LLC Insurance Manager	+$6.5M +527.5K shares	$18.2M 1.5M shares
STATE STREET CORP Institution	+$5.5M +444.5K shares	$33.9M 2.7M shares

Biggest Sellers

Institution	Net Sold	Current Position
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	−$7.4M −604.7K shares	$937.1K 76.3K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	−$6.1M −499.5K shares	$11.7M 949.9K shares
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	−$4.4M −361.8K shares	$21.1M 1.7M shares
FIRST TRUST ADVISORS LP ETF Provider	−$3.2M −262.9K shares	$1.2M 100.3K shares
C Cubist Systematic Strategies, LLC Institution	−$3.0M −249.2K shares	Sold Off 0 shares
BANK OF AMERICA CORP /DE/ Institution	−$2.8M −230.0K shares	$816.0K 66.4K shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	−$2.7M −220.3K shares	$1.1M 90.4K shares
CenterBook Partners LP Hedge Fund•Market Neutral	−$2.5M −203.3K shares	$801.7K 65.2K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$1.7M −134.6K shares	$603.5K 49.1K shares
Edgestream Partners, L.P. Hedge Fund•Quant Macro	−$1.6M −129.9K shares	$209.1K 17.0K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited DX in Q3 2025

New Positions: 21
New Value: $6.8M
Exited Positions: 29
Exited Value: $10.9M

New Positions

Institution	Position Value
Waterfall Asset Management, LLC Hedge Fund•Distressed	$1.8M 150.0K shares
C CAXTON ASSOCIATES LLP Institution	$1.3M 102.0K shares
CAPSTONE INVESTMENT ADVISORS, LLC Hedge Fund•Multi-Strategy	$658.4K 53.6K shares
BAILARD, INC. RIA/Wealth	$628.0K 51.1K shares
Bridgewater Associates, LP Hedge Fund•Global Macro	$475.7K 38.7K shares
Sheets Smith Investment Management RIA/Wealth	$337.0K 27.4K shares
INTL FCSTONE INC. Institution	$285.0K 22.9K shares
L Landing Point Financial Group, LLC RIA/Wealth	$186.0K 15.1K shares
DAVENPORT & Co LLC RIA/Wealth	$184.4K 15.0K shares
U Universal- Beteiligungs- und Servicegesellschaft mbH Institution	$156.1K 12.7K shares

Exited Positions

Institution	Previous Position
C Cubist Systematic Strategies, LLC Institution	$3.0M 249.2K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$1.3M 102.5K shares
AXS Investments LLC Institution	$1.0M 84.4K shares
C Campbell & CO Investment Adviser LLC Hedge Fund•Quant Macro	$736.1K 60.2K shares
Atom Investors LP Hedge Fund•Market Neutral	$508.9K 41.6K shares
P PARK CIRCLE Co Institution	$468.6K 38.4K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	$452.5K 37.0K shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$429.1K 35.1K shares
M MQS Management LLC Hedge Fund•Global Macro	$411.5K 33.7K shares
Graham Capital Management, L.P. Hedge Fund•Multi-Strategy	$312.4K 25.6K shares

Options Activity

Institutions with the largest Call and Put options positions in DX as of Q3 2025

Call Positions: 6
Call Value: $5.6M
Put Positions: 5
Put Value: $5.4M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$3.9M 3.2K contracts
J JANE STREET GROUP, LLC Institution	$924.2K 752.0 contracts
W WOLVERINE TRADING, LLC Institution	$692.8K 574.0 contracts
Centiva Capital, LP Hedge Fund•Multi-Strategy	$40.6K 33.0 contracts
P PEAK6 LLC Institution	- - contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.0M 1.6K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.8M 1.5K contracts
LEUCADIA NATIONAL CORP Institution	$614.5K 500.0 contracts
J JANE STREET GROUP, LLC Institution	$604.7K 492.0 contracts
W WOLVERINE TRADING, LLC Institution	$374.2K 310.0 contracts

Most Committed Institutions

Institutions with DX as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
E EMG Holdings, L.P. Institution	-	8.93% $8.6M	0.54% 695.7K shares	Q3 2025 Held for 2 months	$95.7M
Waterfall Asset Management, LLC Hedge Fund•Distressed	Brian Breakstone CFO	2.89% $1.8M	0.12% 150.0K shares	Q3 2025 Held for 2 months	$63.7M
A Algebris Ltd Institution	-	2.56% $20.5M	1.28% 1.7M shares	Q1 2024 Held for 1y 8m	$799.8M
Clayton Partners LLC Hedge Fund•Long/Short	Alex Gates CCO	0.42% $553.1K	0.03% 45.0K shares	Q2 2024 Held for 1y 5m	$131.9M
Sheets Smith Investment Management RIA/Wealth	Zolly Cornell Bowden President	0.22% $337.0K	0.02% 27.4K shares	Q3 2025 Held for 2 months	$154.2M
B BayBridge Capital Group, LLC RIA/Wealth	Eugene Michael Gurevich Managing Partner	0.19% $304.0K	0.02% 24.7K shares	Q1 2025 Held for 8 months	$156.8M
NAVELLIER & ASSOCIATES INC RIA/Wealth	Louis Gene Navellier CEO	0.18% $1.8M	0.11% 147.7K shares	Q1 2025 Held for 8 months	$983.4M
Kingstone Capital Partners Texas, LLC RIA/Wealth	Kenneth Anthony Blattenbauer President	0.18% $290.9K	0.02% 23.7K shares	Q1 2025 Held for 8 months	$160.6M
P PEREGRINE CAPITAL MANAGEMENT LLC Long Only Manager	Stephen Gerard Simon CCO	0.15% $4.8M	0.30% 391.5K shares	Q2 2023 Held for 2y 5m	$3.3B
VSM Wealth Advisory, LLC RIA/Wealth	Robert Frank Mewshaw President	0.13% $418.1K	0.03% 34.0K shares	Q4 2024 Held for 11 months	$318.3M

Hedge Fund Spotlight

Discover hedge funds investing in DX

CITADEL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerKenneth Cordele Griffin

Portfolio Value: $122.08B
Positions: 5,531
Last Reported: Q3 2025

Sector Allocation

Position in Dynex Capital

Market Value: $9.1M
Shares Held: 741.3K
Portfolio Weight: 0.01%
Owned Since: 2013-Q3

Top Holding	Sector	Market Value	Weight
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3 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$1.4B	1.18%