<SEC-DOCUMENT>0001181431-12-044910.txt : 20120810
<SEC-HEADER>0001181431-12-044910.hdr.sgml : 20120810
<ACCEPTANCE-DATETIME>20120810134829
ACCESSION NUMBER:		0001181431-12-044910
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20120809
FILED AS OF DATE:		20120810
DATE AS OF CHANGE:		20120810

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			IVASCYN DANIEL J
		CENTRAL INDEX KEY:			0001201895

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-22673
		FILM NUMBER:		121023912

	MAIL ADDRESS:	
		STREET 1:		840 NEWPORT CENTER DRIVE
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO Dynamic Income Fund
		CENTRAL INDEX KEY:			0001510599
		IRS NUMBER:				274580758
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0331

	BUSINESS ADDRESS:	
		STREET 1:		C/O ROPES & GRAY LLP
		STREET 2:		PRUDENTIAL TOWER, 800 BOYLSTON STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02199
		BUSINESS PHONE:		617-951-7467

	MAIL ADDRESS:	
		STREET 1:		C/O ROPES & GRAY LLP
		STREET 2:		PRUDENTIAL TOWER, 800 BOYLSTON STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02199
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd353081.xml
<DESCRIPTION>IVASCYN F4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2012-08-09</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001510599</issuerCik>
        <issuerName>PIMCO Dynamic Income Fund</issuerName>
        <issuerTradingSymbol>PDI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001201895</rptOwnerCik>
            <rptOwnerName>IVASCYN DANIEL J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PIMCO</rptOwnerStreet1>
            <rptOwnerStreet2>840 NEWPORT CENTER DRIVE, SUITE 100</rptOwnerStreet2>
            <rptOwnerCity>NEWPORT BEACH</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92660</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>See Remarks</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>COMMON STOCK</value>
            </securityTitle>
            <transactionDate>
                <value>2012-08-09</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>25000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>26.61</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>150000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The price reported in Column 4 is a weighted average price.  The shares were purchased in multiple transactions at prices ranging from $26.53 to $26.65, inclusive.  The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this Form 4.</footnote>
    </footnotes>

    <remarks>Allianz Global Investors Fund Management LLC serves as the investment manager (the &quot;Investment Manager&quot;) of the Issuer. Pacific Investment Management Company LLC (PIMCO) is an affiliate of the Investment Manager and serves as the sub-adviser of the Issuer. The Reporting Person is a Portfolio Manager of the Issuer and is a member of PIMCO's Executive Committee.</remarks>

    <ownerSignature>
        <signatureName>/s/ Arin Stancil, Attorney-in-Fact for Daniel J. Ivascyn</signatureName>
        <signatureDate>2012-08-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
