PDX Form 3: Director Mark D. Michel Discloses No Beneficial Ownership

Rhea-AI Filing Summary

Mark D. Michel filed an initial Form 3 for PIMCO Dynamic Income Strategy Fund (PDX) reporting his relationship to the issuer as a Director. The filing states no securities are beneficially owned by the reporting person. The form was signed by an attorney-in-fact, and includes Exhibit 24 (Power of Attorney).

Positive

• Director relationship disclosed indicating regulatory compliance with Section 16 filing requirements
• Exhibit 24 (Power of Attorney) included showing authorized execution of the filing

Negative

• No securities beneficially owned means no insider ownership alignment is disclosed

Insights

Corporate Governance Expert

TL;DR: Director appointment filed; no ownership disclosed, limiting alignment signal between director and shareholders.

The Form 3 documents a director-level relationship without any beneficial ownership. For governance assessment, a director filing with zero holdings provides limited insight into alignment of incentives or potential insider perspectives on firm performance. The presence of a Power of Attorney indicates the filing was executed by an authorized representative.

Securities Compliance Analyst

TL;DR: Routine Section 16 disclosure; absence of securities means no Section 16 reporting obligations for holdings at filing date.

As an initial statement, this Form 3 fulfills regulatory disclosure for officers/directors. Because it reports no beneficial ownership, there are no specific positions to monitor for future transactions under Section 16 reporting. The filing appears administrative and routine based on content provided.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Michel Mark D.

(Last) (First) (Middle)

C/O PIMCO

650 NEWPORT CENTER DRIVE

(Street)

NEWPORT BEACH CA 92660

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/18/2025

3. Issuer Name and Ticker or Trading Symbol
PIMCO Dynamic Income Strategy Fund [ PDX ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney No Securities are beneficially owned.

No securities are beneficially owned.

	/s/ Ryan Leshaw, Attorney-in-Fact for Mark D. Michel	09/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did the Form 3 for PDX disclose about Mark D. Michel's role?

The filing states Mark D. Michel's relationship to PDX as a Director.

Does the Form 3 report any PDX shares owned by Mark D. Michel?

No. The Form 3 explicitly states no securities are beneficially owned.

Who signed the Form 3 for Mark D. Michel?

The filing was signed by Ryan Leshaw, Attorney-in-Fact for Mark D. Michel on 09/25/2025.

Was a Power of Attorney filed with the Form 3?

Yes. The filing lists Exhibit 24 - Power of Attorney.

Does this Form 3 indicate any derivative or non-derivative holdings?

No. Both Table I and Table II report no securities beneficially owned.