Director at Total Return Securities Fund (SWZ) adds 5,980 shares

Rhea-AI Filing Summary

Total Return Securities Fund director and secretary Phillip Goldstein reported an open-market purchase of 5,980 shares of Common Stock at $5.95 per share. After this buy, he directly owns 119,214 shares, indicating an increase in his personal stake in the fund.

Insider Trade Summary

Net Buyer: 5,980 shares ($35,581)

Net Buy 1 txn

Insider GOLDSTEIN PHILLIP

Role Secretary

Bought 5,980 shs ($36K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	5,980	$5.95	$36K

Holdings After Transaction: Common Stock — 119,214 shares (Direct, null)

Footnotes (1)

Key Figures

Shares purchased: 5,980 shares Purchase price: $5.95 per share Shares owned after transaction: 119,214 shares

3 metrics

Shares purchased 5,980 shares Open-market purchase on July 6, 2026

Purchase price $5.95 per share Price for Common Stock transaction

Shares owned after transaction 119,214 shares Direct holdings following the Form 4 trade

Key Terms

open-market purchase, Common Stock, non-derivative

3 terms

open-market purchase financial

"The transaction is described as an open-market purchase of Common Stock."

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

Common Stock financial

"The security title involved in the transaction is Common Stock."

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

non-derivative financial

"The transaction type is classified as non-derivative in the filing data."

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/08/2026 - 04:05 PM Accepted by SEC EDGAR 07/08/2026 - 04:05 PM Learn about SEC filing dates

FAQ

What insider transaction did Phillip Goldstein report at SWZ?

Phillip Goldstein reported an open-market purchase of 5,980 shares of Total Return Securities Fund Common Stock. The transaction took place on July 6, 2026 at a price of $5.95 per share, increasing his direct holdings.

At what price did the SWZ insider buy shares in this Form 4?

The insider purchase was made at $5.95 per share. This price applies to 5,980 shares of Total Return Securities Fund Common Stock acquired in an open-market transaction reported on July 6, 2026, according to the Form 4 data.

How many SWZ shares does Phillip Goldstein own after this transaction?

After the reported transaction, Phillip Goldstein directly owns 119,214 shares of Total Return Securities Fund Common Stock. This figure reflects his position following the 5,980-share open-market purchase disclosed in the Form 4 filing data.

Was the SWZ insider transaction a purchase or a sale?

The SWZ insider transaction was a purchase. The Form 4 identifies a code "P" transaction, described as an open-market or private purchase of 5,980 shares of Total Return Securities Fund Common Stock by Phillip Goldstein.

Is the SWZ insider’s ownership direct or indirect after this Form 4?

The ownership reported is direct. The Form 4 designates the holdings of 119,214 Total Return Securities Fund shares as "D" for direct ownership, with no derivative positions listed in the derivative summary section.

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)
07/06/2026

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	07/06/2026		P		5,980	A	$5.95	119,214	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	07/08/2026
	** 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)