Saba Capital Maintains Significant Stake in PIMCO Dynamic Income Fund

TL;DR

**Saba Capital still holds a big chunk of PIMCO Dynamic Income Strategy Fund.**

AI Summary

Saba Capital Management, L.P. filed an amended SC 13G/A on January 29, 2024, disclosing its beneficial ownership in PIMCO Dynamic Income Strategy Fund (formerly PIMCO Energy & Tactical Credit Opportunities Fund) as of December 31, 2023. This filing indicates that Saba Capital Management, L.P. continues to hold a significant stake, operating under Rule 13d-1(c), which is typically used by passive investors. For shareholders, this means a major institutional investor remains committed, potentially signaling confidence or continued activist interest in the fund's management or strategy.

Why It Matters

This filing confirms a major institutional investor's continued interest in PIMCO Dynamic Income Strategy Fund, which can influence market perception and potentially fund governance.

Risk Assessment

Risk Level: low — This is an amendment to a previous filing, indicating a continued position rather than a new, potentially disruptive, investment.

Analyst Insight

Investors should note that Saba Capital Management, L.P. continues to hold a significant, passive stake in PIMCO Dynamic Income Strategy Fund. While not an activist filing, their continued presence suggests ongoing interest and could be a factor in future fund decisions or market sentiment.

Key Players & Entities

• Saba Capital Management, L.P. (company) — the reporting person filing the SC 13G/A
• PIMCO Dynamic Income Strategy Fund (company) — the subject company in which shares are beneficially owned
• BOAZ R. WEINSTEIN (person) — a group member associated with Saba Capital Management GP, LLC
• SABA CAPITAL MANAGEMENT GP, LLC (company) — a group member associated with the reporting person
• December 31, 2023 (date) — the date of the event requiring the filing

FAQ

Filing Documents

• formsc13ga.htm (SC 13G/A) — 50KB
• 0001062993-24-001475.txt ( ) — 51KB

Ownership

Item 4. Ownership (a) Amount Beneficially Owned: The information required by Items 4(a) - (c) is set forth in Rows (5) - (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.

Ownership of Five Percent or Less of a Class. N/A

Item 5. Ownership of Five Percent or Less of a Class. N/A Item 6. Ownership of more than Five Percent on Behalf of Another Person. The funds and accounts advised by Saba Capital have the right to receive the dividends from and proceeds of sales from the Common Stock. Item 7. Identification and classification of the subsidiary which acquired the security being reported on by the parent holding company or control person. N/A

Identification and classification of members of the group. N/A

Item 8. Identification and classification of members of the group. N/A

Notice of Dissolution of Group. N/A

Item 9. Notice of Dissolution of Group. N/A

Certifications

Item 10. Certifications. By signing below each Reporting Person certifies that, to the best of his or its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Page 6 of 7 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 29, 2024 /s/ Signature Michael D'Angelo Name: Michael D'Angelo Title: Chief Compliance Officer Boaz R. Weinstein By: Michael D'Angelo Title: Attorney-in-fact*** *** Pursuant to a Power of Attorney dated as of November 16, 2015 Page 7 of 7

View Full Filing

View this SC 13G/A filing on SEC EDGAR