Saba Capital trims PIMCO Dynamic Income Strategy Fund (PDX) stake

Rhea-AI Filing Summary

Saba Capital Management, L.P., a more than 10% owner of PIMCO Dynamic Income Strategy Fund, reported an open-market sale of 10,292 shares of common stock at $20.42 per share. Following this indirect transaction, it reported ownership of 6,418,287 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)
03/04/2026

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	03/04/2026		S		10,292	D	$20.42	6,418,287	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	03/05/2026
	Boaz Weinstein	03/05/2026
	** 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).
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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 10,292 shares of PIMCO Dynamic Income Strategy Fund common stock in an open-market transaction at $20.42 per share. After this sale, it reported holding 6,418,287 shares indirectly.

At what price were the PIMCO Dynamic Income Strategy Fund (PDX) shares sold?

The reported sale of PIMCO Dynamic Income Strategy Fund common shares occurred at $20.42 per share. This transaction involved 10,292 shares in an open-market sale, as disclosed in the Form 4 insider filing by Saba Capital Management, L.P.

How many PDX shares does Saba Capital report owning after the sale?

After the reported transaction, Saba Capital Management, L.P. disclosed ownership of 6,418,287 shares of PIMCO Dynamic Income Strategy Fund common stock. This reflects its position following the 10,292-share open-market sale reported in the Form 4 filing.

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

Yes. Saba Capital Management, L.P. is identified as a more than 10% owner of PIMCO Dynamic Income Strategy Fund. The Form 4 filing notes this status while reporting its 10,292-share open-market sale and 6,418,287 shares owned indirectly afterward.

Was the PDX insider transaction a buy or a sell by Saba Capital?

The transaction was a sale. Saba Capital Management, L.P. reported an open-market sale of 10,292 PIMCO Dynamic Income Strategy Fund common shares, coded as “S” for sale, at a price of $20.42 per share in the Form 4 filing.