Total Return Securities Fund insider reports December stock sales

Total Return Securities Fund reported insider stock sales over several days in December 2025.

Rhea-AI Filing Summary

Total Return Securities Fund reported insider stock sales over several days in December 2025. A reporting person sold multiple blocks of the fund’s common stock in open-market transactions on 12/22/2025, 12/23/2025, 12/24/2025, and 12/26/2025.

The sales ranged from small lots of fewer than 200 shares to larger trades of more than 10,000 shares, at prices between $6.22 and $6.27 per share. After these transactions, the reporting person beneficially owned 1,706,939 shares of Total Return Securities Fund common stock, held directly.

Insider Trade Summary

Net Seller: 28,567 shares

Net Sell 12 txns

Insider CSS LLC/IL

Role 10% Owner

Sold 28,567 shs ($179K)

Type	Security	Shares	Price	Value
Sale	common stock	4,600	$6.25	$29K
Sale	common stock	300	$6.255	$2K
Sale	common stock	13,402	$6.26	$84K
Sale	common stock	598	$6.265	$4K
Sale	common stock	2,100	$6.27	$13K
Sale	common stock	1,000	$6.22	$6K
Sale	common stock	100	$6.23	$623.00
Sale	common stock	1,000	$6.245	$6K
Sale	common stock	1,400	$6.25	$9K
Sale	common stock	3,000	$6.26	$19K
Sale	common stock	167	$6.25	$1K
Sale	common stock	900	$6.26	$6K

Holdings After Transaction: common stock — 1,706,939 shares (Direct)

FAQ

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

What insider activity did Total Return Securities Fund (SWZ) disclose?

Total Return Securities Fund disclosed that a reporting person sold multiple blocks of its common stock in open-market transactions on 12/22/2025, 12/23/2025, 12/24/2025, and 12/26/2025.

How many Total Return Securities Fund (SWZ) shares does the insider own after these sales?

Following the reported transactions, the reporting person beneficially owned 1,706,939 shares of Total Return Securities Fund common stock, held directly.

At what prices were the Total Return Securities Fund (SWZ) shares sold?

The reported common stock sales were executed at prices between $6.22 and $6.27 per share.

Over what period did the reported Total Return Securities Fund (SWZ) trades occur?

The trades occurred over several days, specifically on 12/22/2025, 12/23/2025, 12/24/2025, and 12/26/2025.

Were any derivative securities reported for Total Return Securities Fund (SWZ)?

The filing includes a section for derivative securities, but it does not list any specific derivative transactions in the provided content.

Is the reporting person’s ownership in Total Return Securities Fund (SWZ) direct or indirect?

The filing shows the reporting person’s 1,706,939 shares of Total Return Securities Fund common stock as held in direct ownership form.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 12/29/2025 - 04:17 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^*

CSS LLC/IL

(Last) (First) (Middle)

1 NORTH WACKER DRIVE

SUITE 3075

(Street)

CHICAGO IL 60606

(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)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/22/2025

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	12/22/2025		S		167	D	$6.25	1,735,339	D
common stock	12/22/2025		S		900	D	$6.26	1,734,439	D
common stock	12/23/2025		S		1,000	D	$6.245	1,733,439	D
common stock	12/23/2025		S		1,400	D	$6.25	17,312,039	D
common stock	12/23/2025		S		3,000	D	$6.26	1,729,039	D
common stock	12/24/2025		S		1,000	D	$6.22	1,728,039	D
common stock	12/24/2025		S		100	D	$6.23	1,727,939	D
common stock	12/26/2025		S		4,600	D	$6.25	1,723,339	D
common stock	12/26/2025		S		300	D	$6.255	1,723,039	D
common stock	12/26/2025		S		13,402	D	$6.26	1,709,637	D
common stock	12/26/2025		S		598	D	$6.265	1,709,039	D
common stock	12/26/2025		S		2,100	D	$6.27	1,706,939	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:

	Mitchell R Bialek, CCO, on behalf of CSS, LLC	12/29/2025
	** 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.