<SEC-DOCUMENT>0000950123-14-010898.txt : 20141104
<SEC-HEADER>0000950123-14-010898.hdr.sgml : 20141104
<ACCEPTANCE-DATETIME>20141104161518
ACCESSION NUMBER:		0000950123-14-010898
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140930
FILED AS OF DATE:		20141104
DATE AS OF CHANGE:		20141104
EFFECTIVENESS DATE:		20141104

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			American Capital Mortgage Management, LLC
		CENTRAL INDEX KEY:			0001543454
		IRS NUMBER:				261708812
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-16062
		FILM NUMBER:		141193375

	BUSINESS ADDRESS:	
		STREET 1:		2 BETHESDA METRO CENTER
		STREET 2:		14TH FLOOR
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814
		BUSINESS PHONE:		301-951-6122

	MAIL ADDRESS:	
		STREET 1:		2 BETHESDA METRO CENTER
		STREET 2:		14TH FLOOR
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xsi:schemaLocation="http://www.sec.gov/edgar/thirteenffiler eis_13F_Filer.xsd" xmlns="http://www.sec.gov/edgar/thirteenffiler" xmlns:ns1="http://www.sec.gov/edgar/common" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>13F-HR</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <flags>
        <confirmingCopyFlag>false</confirmingCopyFlag>
        <returnCopyFlag>true</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
      </flags>
      <filer>
        <credentials>
          <cik>0001543454</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>09-30-2014</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>09-30-2014</reportCalendarOrQuarter>
      <filingManager>
        <name>American Capital Mortgage Management, LLC</name>
        <address>
          <ns1:street1>2 Bethesda Metro Center</ns1:street1>
          <ns1:street2>14th Floor</ns1:street2>
          <ns1:city>Bethesda</ns1:city>
          <ns1:stateOrCountry>MD</ns1:stateOrCountry>
          <ns1:zipCode>20814</ns1:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-16062</form13FFileNumber>
      <provideInfoForInstruction5>Y</provideInfoForInstruction5>
      <additionalInformation>This Form 13F is filed by American Capital Mortgage Management, LLC  ("ACMM") and American Capital Agency Corp. ("AGNC").  A subsidiary of ACMM serves as the manager of AGNC, which exercises voting and investment control over the shares held by AGNC. ACMM owns no securities of the Issuers directly.</additionalInformation>
    </coverPage>
    <signatureBlock>
      <name>Samuel A. Flax</name>
      <title>Executive Vice President and Secretary</title>
      <phone>301-841-1405</phone>
      <signature>/s/ Samuel A. Flax</signature>
      <city>Bethesda</city>
      <stateOrCountry>MD</stateOrCountry>
      <signatureDate>11-04-2014</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>1</otherIncludedManagersCount>
      <tableEntryTotal>1</tableEntryTotal>
      <tableValueTotal>66007</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
      <otherManagers2Info>
        <otherManager2>
          <sequenceNumber>1</sequenceNumber>
          <otherManager>
            <name>American Capital Agency Corp.</name>
          </otherManager>
        </otherManager2>
      </otherManagers2Info>
    </summaryPage>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>INFORMATION TABLE
<SEQUENCE>2
<FILENAME>form13fInfoTable.xml
<DESCRIPTION>INFORMATION TABLE FOR FORM 13F
<TEXT>
<XML>
<informationTable xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
   <infoTable>
       <nameOfIssuer>HATTERAS FINL CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>41902R103</cusip>
       <value>66007</value>
       <shrsOrPrnAmt>
           <sshPrnamt>3675205</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <otherManager>1</otherManager>
       <votingAuthority>
           <Sole>3675205</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
</informationTable>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>