Saba Capital (PDX) reports open-market sale of 31,791 fund shares

Rhea-AI Filing Summary

Saba Capital Management, L.P., a more than 10% owner of PIMCO Dynamic Income Strategy Fund, reported two indirect open-market sales of common stock. It sold 10,119 shares at $19.96 on February 17 and 21,672 shares at $20.16 on February 18, leaving 6,557,165 shares indirectly owned.

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)
02/17/2026

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	02/17/2026		S		10,119	D	$19.96	6,578,837	I	-
Common Stock	02/18/2026		S		21,672	D	$20.16	6,557,165	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	02/19/2026
	Boaz Weinstein	02/19/2026
	** 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 activity did Saba Capital report for PDX?

Saba Capital Management, L.P. reported two indirect open-market sales of PIMCO Dynamic Income Strategy Fund common stock, totaling 31,791 shares. These transactions occurred on February 17 and 18, 2026, and are disclosed on a Form 4 insider trading report.

How many PDX shares did Saba Capital sell in this Form 4?

Saba Capital sold 31,791 PDX shares in total. The trades included 10,119 shares at $19.96 on February 17 and 21,672 shares at $20.16 on February 18, as non-derivative open-market transactions.

What is Saba Capital’s remaining PDX ownership after these sales?

After the reported transactions, Saba Capital’s indirect ownership stands at 6,557,165 PDX common shares. This figure is disclosed as the total shares beneficially owned following the February 18, 2026 open-market sale transaction.

What were the sale prices in Saba Capital’s PDX trades?

The reported sales occurred at two distinct prices: $19.96 per share for 10,119 shares on February 17, and $20.16 per share for 21,672 shares on February 18. Both are classified as open-market sale transactions.

Is Saba Capital a major owner of PIMCO Dynamic Income Strategy Fund (PDX)?

Yes. The Form 4 identifies Saba Capital Management, L.P. as a more than 10% owner of PIMCO Dynamic Income Strategy Fund. This status makes its trades reportable as insider transactions under SEC rules.

Were Saba Capital’s PDX transactions direct or indirect holdings?

The reported PDX common stock transactions are classified as indirect ownership. The Form 4 lists the ownership code as “I,” indicating that Saba Capital’s interest in these shares is held indirectly rather than directly.