Saba Capital trims PIMCO Dynamic Income (NYSE: PDX) stake

Rhea-AI Filing Summary

Saba Capital Management, L.P., a 10% owner of PIMCO Dynamic Income Strategy Fund, reported selling common shares in two transactions. On 02/09/2026, it sold 42,805 shares at $20.31 per share. On 02/10/2026, it sold 11,077 shares at $20.24 per share.

After these sales, Saba Capital Management indirectly beneficially owned 6,709,338 common shares of the fund.

Insider Trade Summary

Net Seller: 53,882 shares ($1,093,568)

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role 10% Owner

Sold 53,882 shs ($1.09M)

Type	Security	Shares	Price	Value
Sale	Common Stock	11,077	$20.24	$224K
Sale	Common Stock	42,805	$20.31	$869K

Holdings After Transaction: Common Stock — 6,709,338 shares (Indirect, -)

Footnotes (1)

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Saba Capital Management, L.P.

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2026

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/09/2026		S		42,805	D	$20.31	6,720,415	I	-
Common Stock	02/10/2026		S		11,077	D	$20.24	6,709,338	I	-

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	02/11/2026
	Boaz Weinstein	02/11/2026
	** 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 4 (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 insider transactions in PIMCO Dynamic Income Strategy Fund (PDX) were reported?

The filing reports two sales of PIMCO Dynamic Income Strategy Fund common shares by Saba Capital Management, L.P. It sold 42,805 shares at $20.31 on February 9, 2026, and 11,077 shares at $20.24 on February 10, 2026, in open-market transactions.

How many PDX shares does Saba Capital Management own after these Form 4 sales?

After the reported transactions, Saba Capital Management, L.P. indirectly beneficially owned 6,709,338 common shares of PIMCO Dynamic Income Strategy Fund. This figure reflects holdings following the February 10, 2026 sale and is reported as indirect ownership in the Form 4 filing’s non-derivative securities table.

At what prices did Saba Capital Management sell its PDX shares?

Saba Capital Management, L.P. reported selling PIMCO Dynamic Income Strategy Fund common shares at prices near $20 per share. It sold 42,805 shares at $20.31 each on February 9, 2026, and 11,077 shares at $20.24 each on February 10, 2026, according to the Form 4.

Is Saba Capital Management considered a 10% owner of PIMCO Dynamic Income Strategy Fund?

Yes. The Form 4 identifies Saba Capital Management, L.P. as a 10% owner of PIMCO Dynamic Income Strategy Fund. This status triggers Section 16 reporting obligations, requiring disclosure of changes in its beneficial ownership of the fund’s common stock through filings such as this one.

Are the PDX shares held directly or indirectly by Saba Capital Management?

The Form 4 classifies Saba Capital Management, L.P.’s post-transaction holdings as indirectly owned. The 6,709,338 common shares of PIMCO Dynamic Income Strategy Fund reported after the February 10, 2026 trade are marked with ownership form “I” (indirect), with no additional nature-of-ownership detail in the excerpt.

Did the Form 4 report any derivative securities for PDX?

No derivative securities were reported in this Form 4 excerpt. The table for derivative securities, such as options or warrants, is present but contains no entries, indicating that only transactions in non-derivative PIMCO Dynamic Income Strategy Fund common stock were disclosed for this reporting period.