Entity tied to SWZ CEO buys 14,918 shares

Total Return Securities Fund director Andrew Dakos reported indirect open-market purchases of the fund’s common stock through a limited partnership in which he has a beneficial interest.

Accepted by SEC EDGAR 03/04/2026 - 04:18 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Total Return Securities Fund director Andrew Dakos reported indirect open-market purchases of the fund’s common stock through a limited partnership in which he has a beneficial interest. On March 2, 2026, the partnership bought 5,000 shares at $6.15 and 9,918 shares at $5.95, totaling 14,918 shares. After these transactions, Dakos also reported 39,453 shares of direct common stock ownership.

Insider Trade Summary

Net Buyer: 14,918 shares

Net Buy 2 txns

Insider Dakos Andrew

Role President and CEO

Bought 14,918 shs ($90K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	5,000	$6.15	$31K
Purchase	Common Stock	9,918	$5.95	$59K
Holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 37,595 shares (Indirect, Limited Partnership); Common Stock — 39,453 shares (Direct)

Footnotes (2)

1. F1. Shares are held by a limited partnership in which Mr. Dakos has a beneficial interest. Mr. Dakos disclaims beneficial interest in such shares except to the extent of any pecuniary interest therein.
2. F2. Represents the weighted average price.

FAQ

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

What insider transactions did SWZ’s Andrew Dakos report?

Andrew Dakos reported indirect open-market purchases of SWZ common stock via a limited partnership. On March 2, 2026, the partnership bought 5,000 shares at $6.15 and 9,918 shares at $5.95, totaling 14,918 additional shares.

How many SWZ shares did the related partnership buy and at what prices?

A limited partnership associated with SWZ’s president bought 14,918 common shares. It purchased 5,000 shares at $6.15 per share and 9,918 shares at $5.95 per share, as open-market transactions reported in the Form 4 filing.

Is Andrew Dakos’ ownership in SWZ direct or through an entity?

Andrew Dakos reports both indirect and direct ownership in SWZ. The newly purchased 14,918 shares are held by a limited partnership, while a separate line in the filing shows he holds 39,453 SWZ common shares directly in his own name.

What does the footnote in SWZ’s Form 4 say about beneficial ownership?

The footnote explains that the purchased SWZ shares are held by a limited partnership in which Andrew Dakos has a beneficial interest. He disclaims beneficial ownership of those shares except to the extent of any pecuniary interest he may have in the partnership.

What is Andrew Dakos’ role at Total Return Securities Fund (SWZ)?

Andrew Dakos serves as president and CEO of Total Return Securities Fund and is also a director. His Form 4 filing reflects transactions in SWZ common stock by a limited partnership in which he has a beneficial interest, plus his directly held shares.

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

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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^*

Dakos Andrew

(Last) (First) (Middle)

250 PEHLE AVE.

SUITE 708

(Street)

SADDLE BROOK NJ 07663

(City) (State) (Zip)

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)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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

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

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

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	03/02/2026		P		5,000	A	$6.15	27,677	I	Limited Partnership(1)
Common Stock	03/02/2026		P		9,918	A	$5.95(2)	37,595	I	Limited Partnership(1)
Common Stock								39,453	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:

1. Shares are held by a limited partnership in which Mr. Dakos has a beneficial interest. Mr. Dakos disclaims beneficial interest in such shares except to the extent of any pecuniary interest therein.

2. Represents the weighted average price.

	/s/ Stephanie Darling, Power of Attorney for Andrew Dakos	03/04/2026
	** 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.