Total Return Securities Fund director buys 1,002 shares

Total Return Securities Fund director Moritz A. Sell reported an open-market purchase of the fund’s Common Stock.

Rhea-AI Filing Summary

Total Return Securities Fund director Moritz A. Sell reported an open-market purchase of the fund’s Common Stock. On April 24, 2026, he bought 1,002 shares at $6.065 per share, increasing his direct ownership to 11,000 shares. A footnote explains that this amount includes shares acquired through the issuer’s dividend reinvestment plan.

Insider Trade Summary

Net Buyer: 1,002 shares

Net Buy 1 txn

Insider SELL MORITZ A

Role Director

Bought 1,002 shs ($6K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	1,002	$6.065	$6K

Holdings After Transaction: Common Stock — 11,000 shares (Direct)

Footnotes (1)

1. F1. Amount includes shares acquired through the Issuer's dividend reinvestment plan.

Key Figures

Shares purchased: 1,002 shares Purchase price: $6.065 per share Shares owned after transaction: 11,000 shares

3 metrics

Shares purchased 1,002 shares Open-market purchase on April 24, 2026

Purchase price $6.065 per share Price for Common Stock transaction

Shares owned after transaction 11,000 shares Director’s direct holdings following purchase

Key Terms

open-market purchase, dividend reinvestment plan, Common Stock

3 terms

open-market purchase financial

"transaction_action": "open-market purchase""

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.

dividend reinvestment plan financial

"includes shares acquired through the Issuer's dividend reinvestment plan"

A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.

Common Stock financial

"security_title": "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.

FAQ

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

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

Total Return Securities Fund reported that director Moritz A. Sell bought 1,002 shares of Common Stock in an open-market purchase. The transaction occurred at a price of $6.065 per share and increased his direct holdings to 11,000 shares.

At what price did the SWZ director buy Total Return Securities Fund shares?

Director Moritz A. Sell purchased 1,002 Total Return Securities Fund Common Stock shares at $6.065 per share. This price reflects the cost for this specific open-market transaction reported and does not indicate any broader pricing trend or valuation by the fund.

How many Total Return Securities Fund (SWZ) shares does the director now hold?

After the reported transaction, director Moritz A. Sell directly owns 11,000 shares of Total Return Securities Fund Common Stock. This total includes shares acquired through the issuer’s dividend reinvestment plan, as noted in the Form 4 footnote.

What type of transaction was reported for Total Return Securities Fund (SWZ)?

The Form 4 shows an open-market purchase of Common Stock by director Moritz A. Sell. The transaction code was “P,” indicating a purchase in the open market or private transaction, and it involved 1,002 shares at $6.065 per share.

Does the SWZ Form 4 mention a dividend reinvestment plan?

Yes. A footnote states that the reported share amount includes shares acquired through the issuer’s dividend reinvestment plan. This means part of the director’s 11,000-share position comes from automatic reinvestment of dividends into additional fund shares.

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

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Accepted by SEC EDGAR 04/27/2026 - 04:05 PM EDT 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^*

SELL MORITZ A

(Last) (First) (Middle)

C/O ULTIMUS FUND SOLUTIONS

225 PICTORIA DR., SUITE 450

(Street)

CINCINNATI OHIO 45246

(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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/24/2026

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	04/24/2026		P		1,002	A	$6.065	11,000(1)	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. Amount includes shares acquired through the Issuer's dividend reinvestment plan.

	/s/ Stephanie Darling, as Power of Attorney	04/27/2026
	** 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)