Saba Capital (PDX) reports open-market sale of 20,300 fund shares

Rhea-AI Filing Summary

Saba Capital Management, L.P., a more than ten percent owner of PIMCO Dynamic Income Strategy Fund, reported an open-market sale of 20,300 shares of common stock on February 23, 2026 at an average price of $20.26 per share. After this transaction, Saba Capital indirectly held 6,479,874 shares of the fund’s common stock.

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

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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)
02/23/2026

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	02/23/2026		S		20,300	D	$20.26	6,479,874	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	02/24/2026
	Boaz Weinstein	02/24/2026
	** 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 did Saba Capital report in this Form 4 for PDX?

Saba Capital reported an open-market sale of common stock in PIMCO Dynamic Income Strategy Fund. The filing shows one transaction involving 20,300 shares at $20.26 per share, with holdings updated after the sale.

How many PIMCO Dynamic Income Strategy Fund shares did Saba Capital sell?

Saba Capital sold 20,300 shares of PIMCO Dynamic Income Strategy Fund common stock. This single open-market transaction is the only one reported in the filing and reduces their previously held indirect position by exactly 20,300 shares.

At what price did Saba Capital sell PDX common shares?

The reported sale price was $20.26 per share for PIMCO Dynamic Income Strategy Fund common stock. This figure represents the transaction price for the 20,300 shares sold in the open-market sale disclosed in the Form 4.

How many PDX shares does Saba Capital hold after this transaction?

After the transaction, Saba Capital indirectly held 6,479,874 shares of PIMCO Dynamic Income Strategy Fund common stock. This updated ownership figure is reported as the total shares following the 20,300-share open-market sale.

Is Saba Capital a large shareholder of PIMCO Dynamic Income Strategy Fund (PDX)?

Yes. The Form 4 identifies Saba Capital Management, L.P. as a more than ten percent owner of PIMCO Dynamic Income Strategy Fund, indicating a significant ownership stake in the fund’s common stock before and after the reported sale.

Was Saba Capital’s PDX transaction a buy or a sell?

It was a sale. The Form 4 shows a transaction code “S” and classifies it as an open-market sale of 20,300 PIMCO Dynamic Income Strategy Fund common shares at a price of $20.26 per share.