Saba Capital trims PIMCO Dynamic Income (PDX) stake with 3,700-share sale

Rhea-AI Filing Summary

Saba Capital Management, L.P., a more than ten percent owner of PIMCO Dynamic Income Strategy Fund, reported an indirect open-market sale of 3,700 shares of common stock on February 26, 2026 at $20.11 per share. After this transaction, it indirectly owned 6,444,835 shares.

Insider Trade Summary

Net Seller: 3,700 shares ($74,407)

Net Sell 1 txn

Insider Saba Capital Management, L.P.

Role 10% Owner

Sold 3,700 shs ($74K)

Type	Security	Shares	Price	Value
Sale	Common Stock	3,700	$20.11	$74K

Holdings After Transaction: Common Stock — 6,444,835 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)
02/26/2026

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	02/26/2026		S		3,700	D	$20.11	6,444,835	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	03/02/2026
	Boaz Weinstein	03/02/2026
	** 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 transaction did Saba Capital report for PDX?

Saba Capital Management, L.P. reported selling 3,700 shares of PIMCO Dynamic Income Strategy Fund common stock. The transaction was an indirect open-market sale completed on February 26, 2026, and was reported on a Form 4 insider trading statement for major shareholders.

At what price did Saba Capital sell PDX shares?

Saba Capital sold the 3,700 PIMCO Dynamic Income Strategy Fund shares at $20.11 per share. This was reported as an open-market transaction, meaning the trade occurred on the public market rather than through a private negotiated arrangement or off-exchange block trade.

How many PDX shares does Saba Capital own after this sale?

After the sale, Saba Capital Management, L.P. indirectly owned 6,444,835 shares of PIMCO Dynamic Income Strategy Fund. This remaining position reflects its status as a more than ten percent owner, even after the relatively small 3,700-share open-market disposition reported.

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

The transaction was a sell. Saba Capital Management, L.P. executed an open-market sale of 3,700 shares of PIMCO Dynamic Income Strategy Fund common stock, as indicated by transaction code “S” and the description “Sale in open market or private transaction.”

Is Saba Capital’s PDX position held directly or indirectly?

Saba Capital’s reported PIMCO Dynamic Income Strategy Fund holdings are classified as indirect ownership. The Form 4 identifies the ownership type as indirect, meaning the shares are held through an entity or structure associated with Saba Capital rather than in its direct name.

Why is Saba Capital considered a ten percent owner of PDX?

Saba Capital Management, L.P. is identified as a more than ten percent owner in the Form 4 filing. This designation reflects that its aggregate holdings exceed ten percent of PIMCO Dynamic Income Strategy Fund’s outstanding common stock, triggering ongoing insider reporting obligations for its transactions.