Saba Capital Management, L.P. reported the sale of common shares of the PIMCO Dynamic Income Strategy Fund (PDX) in filings with the Securities and Exchange Commission. The transactions took place over two trading days in early February 2026 and totaled $661,562 in proceeds.
Per the Form 4 disclosure, Saba sold 23,014 shares on February 5, 2026, at a per-share price of $20.03, and an additional 9,896 shares on February 6, 2026, at $20.27 per share. The combined quantity of shares sold was 32,910. Following those dispositions, Saba Capital Management, L.P. is recorded as indirectly owning 6,763,220 shares of the fund.
The filing also reiterates Saba Capital's status as a ten percent owner of the PIMCO Dynamic Income Strategy Fund. The Form 4 is the formal mechanism through which insiders and significant holders notify the SEC of purchases, sales, and other changes in holdings.
Management update at PIMCO Dynamic Income Strategy Fund
In separate disclosures, PIMCO confirmed an immediate change in the fund's management lineup. Mark R. Kiesel is no longer listed as a manager of the PIMCO Dynamic Income Strategy Fund, effective immediately. The fund will remain under the stewardship of five other named managers:
- John M. Devir - head of Americas credit research and lead analyst for global energy.
- Greg E. Sharenow - responsible for commodities and real assets.
- Daniel J. Ivascyn - Group Chief Investment Officer.
- Alfred T. Murata - manager of income-oriented and multisector credit strategies.
- Giang Bui - specialist in securitized debt instruments and bank loans.
PIMCO framed the composition of its team as reflecting an intent to maintain a diverse and experienced group to manage the fund. No further details were provided in the notices regarding the reason for Kiesel's removal or any immediate shifts to investment approach.
Context and implications
The filings present two distinct pieces of information: a sizeable sale of shares by a large holder and a personnel change among the fund's managers. The transactional details are specific - share counts, execution dates, and prices are disclosed - while the management notice names the remaining portfolio managers and their areas of focus. The public documents do not offer additional explanations linking the insider sales to the management change, nor do they provide commentary about prospective strategy shifts.