Total Return Securities Fund director buys 10K shares

Total Return Securities Fund director and secretary Phillip Goldstein made an open-market purchase of 10,000 common shares at $5.98 per share.

Rhea-AI Filing Summary

Total Return Securities Fund director and secretary Phillip Goldstein made an open-market purchase of 10,000 common shares at $5.98 per share. After this transaction, he directly owns 113,234 shares. The buy increased his direct holdings by roughly a tenth, signaling a larger personal stake in the fund.

Insights

Closed-end fund governance analyst

Director Goldstein increased his direct stake through a routine open-market purchase.

Director and secretary Phillip Goldstein bought 10,000 common shares of Total Return Securities Fund at $5.98 per share in an open-market transaction. Following the trade, his direct ownership rose to 113,234 shares.

This is a straightforward insider net-buy with no derivative activity and no disclosed trading-plan footnotes. The purchase adds to his economic exposure, but the overall significance depends on the fund’s total shares outstanding, which is not indicated in the available data.

Insider Trade Summary

Net Buyer: 10,000 shares

Net Buy 1 txn

Insider GOLDSTEIN PHILLIP

Role Secretary

Bought 10,000 shs ($60K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	10,000	$5.98	$60K

Holdings After Transaction: Common Stock — 113,234 shares (Direct)

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Phillip Goldstein report for Total Return Securities Fund (SWZ)?

Phillip Goldstein reported an open-market purchase of 10,000 common shares of Total Return Securities Fund at $5.98 per share. This Form 4 filing shows a direct increase in his personal stake in the fund through a straightforward cash purchase.

How many Total Return Securities Fund (SWZ) shares does Phillip Goldstein own after this transaction?

After the reported purchase, Phillip Goldstein directly owns 113,234 common shares of Total Return Securities Fund. The filing shows this post-transaction total, reflecting his enlarged personal position following the 10,000-share open-market buy at $5.98 per share.

Was Phillip Goldstein’s Total Return Securities Fund (SWZ) trade a buy or a sell?

The trade was a buy. The Form 4 lists a transaction code "P" and describes it as an open-market purchase of 10,000 common shares at $5.98 each, increasing his directly held position in Total Return Securities Fund to 113,234 shares afterward.

Did the Total Return Securities Fund (SWZ) Form 4 include any derivative or option transactions?

No derivative or option activity appears in this Form 4. The filing shows a single non-derivative transaction: an open-market purchase of 10,000 common shares. The derivative position summary is empty, indicating no options or similar instruments reported in this instance.

What role does Phillip Goldstein hold at Total Return Securities Fund (SWZ)?

Phillip Goldstein is identified as both a director and an officer, serving as secretary of Total Return Securities Fund. The filing also notes he is an affiliate of the adviser, providing context on his governance and advisory connections to the fund.

How significant is Phillip Goldstein’s latest SWZ share purchase relative to his holdings?

Goldstein’s 10,000-share purchase modestly increases his direct holdings, which total 113,234 shares after the trade. This means the transaction adds a noticeable but not transformational increment to his stake, based solely on the position data disclosed in the filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/19/2026 - 04:20 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

GOLDSTEIN PHILLIP

(Last) (First) (Middle)

60 HERITAGE DRIVE

(Street)

PLEASANTVILLE NEW YORK 10570

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Total Return Securities Fund [ SWZ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)	X	Other (specify below)
	Secretary		Affiliate of the Adviser

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	03/18/2026		P		10,000	A	$5.98	113,234	D

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:

	/s/ Stephanie Darling, Power of Attorney for Phillip Goldstein	03/19/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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.
* Form 4: SEC 1474 (03-26)