0001510599 2022-12-31 2022-12-31 0001510599 pdif:CommonSharesMember 2022-12-31 2022-12-31 pure iso4217:USD shares iso4217:USD shares false 0001510599 N-CSRS PIMCO Dynamic Income Fund <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1%; font-size: 9.5pt; font-family: arial narrow;">Investment Objective and Strategy Overview</div><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8.5pt; font-family: arial narrow;">PIMCO Dynamic Income Fund’s primary investment objective is to seek current income, and capital appreciation is a secondary objective.</div><div style="margin-top: 0pt; margin-bottom: 0pt; text-indent: 0%; font-size: 9.5pt; font-family: arial narrow;">Fund Insights at NAV</div><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8.5pt; font-family: arial narrow;">The following affected performance (on a gross basis) during the reporting period:</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial narrow; font-size: 8.5pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 1%; vertical-align: top; text-align: left;">»</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;">Exposure to emerging market debt contributed to absolute performance as the sector posted positive performance.</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial narrow; font-size: 8.5pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 1%; vertical-align: top; text-align: left;">»</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;">Exposure to holdings related to special situation investments, which include companies undergoing stress, distress, challenges, or significant transition, contributed to absolute performance as the securities posted positive returns.</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial narrow; font-size: 8.5pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 1%; vertical-align: top; text-align: left;">»</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;">Exposure to high yield corporate credit contributed to absolute performance as the sector posted positive performance.</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial narrow; font-size: 8.5pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 1%; vertical-align: top; text-align: left;">»</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;">Exposure to residential mortgage credit detracted from absolute performance as the sector posted negative performance.</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial narrow; font-size: 8.5pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 1%; vertical-align: top; text-align: left;">»</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;">Exposure to asset-backed securities detracted from absolute performance as the sector posted negative performance.</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial narrow; font-size: 8.5pt; border: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 1%; vertical-align: top; text-align: left;">»</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="text-align: left; vertical-align: top;">Security selection within municipal bonds detracted from performance as a select taxable municipal security posted negative returns.</td> </tr> </table> Common Shares 243090