Total Return Securities Fund director buys shares

Total Return Securities Fund director Moritz A Sell purchased a total of 1,483 shares of common stock in two reported transactions.

Accepted by SEC EDGAR 07/22/2026 - 04:22 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Total Return Securities Fund director Moritz A Sell purchased a total of 1,483 shares of common stock in two reported transactions. He bought 1,000 shares on July 20, 2026 at $5.93 per share and 483 shares on July 21, 2026 at $5.90 per share, reported as direct ownership. The disclosure notes that the reported amounts include shares acquired through the issuer’s dividend reinvestment plan, and the trades were not made pursuant to a Rule 10b5-1 trading plan.

Insider Trade Summary

Net Buyer: 1,483 shares

Net Buy 2 txns

Insider SELL MORITZ A

Role Director

Bought 1,483 shs ($9K)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1	483	$5.90	$3K
Purchase	Common Stock F1	1,000	$5.93	$6K

Holdings After Transaction: Common Stock — 21,729 shares (Direct)

Footnotes (1)

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

Key Figures

Total shares purchased: 1,483 shares July 20, 2026 purchase: 1,000 shares at $5.93 per share July 21, 2026 purchase: 483 shares at $5.90 per share

3 metrics

Total shares purchased 1,483 shares Aggregate common shares bought by director Moritz A Sell across reported transactions

July 20, 2026 purchase 1,000 shares at $5.93 per share Common stock purchase reported as direct ownership on 2026-07-20

July 21, 2026 purchase 483 shares at $5.90 per share Common stock purchase reported as direct ownership on 2026-07-21

Key Terms

dividend reinvestment plan, Rule 10b5-1 trading plan, non-derivative

3 terms

dividend reinvestment plan financial

"Amount 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.

Rule 10b5-1 trading plan regulatory

"Checkbox indicates whether transactions were made pursuant to a Rule 10b5-1 trading plan."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

non-derivative financial

"Each reported transaction is classified as non-derivative common stock."

FAQ

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

What insider stock purchases did SWZ report for Moritz A Sell?

Moritz A Sell, a director of Total Return Securities Fund (SWZ), reported buying 1,483 shares of common stock in two transactions. Purchases occurred on July 20 and 21, 2026, at prices of $5.93 and $5.90 per share.

On what dates did the SWZ director buy shares and at what prices?

The SWZ director bought shares on July 20, 2026 and July 21, 2026. He purchased 1,000 shares at $5.93 per share on July 20 and 483 shares at $5.90 per share on July 21.

How many Total Return Securities Fund (SWZ) shares were purchased in total?

In total, the director purchased 1,483 shares of Total Return Securities Fund common stock. This total combines 1,000 shares bought on July 20, 2026 and 483 shares bought on July 21, 2026, all reported as directly owned.

Were the recent SWZ insider purchases made under a Rule 10b5-1 plan?

The transactions were not made under a Rule 10b5-1 trading plan. The filing’s Rule 10b5-1 checkbox is explicitly unchecked, indicating these trades were not executed pursuant to a pre-arranged trading plan.

Do the reported SWZ share amounts include dividend reinvestment?

Yes. A footnote states that the reported amount includes shares acquired through the issuer's dividend reinvestment plan. This means some of the disclosed holdings arise from automatic reinvestment of dividends into additional SWZ shares.

Is the SWZ insider’s ownership direct or through another entity?

The reported transactions reflect direct ownership of the SWZ shares. The Form 4 classifies the ownership type as direct, with no indication that the shares are held through a trust, fund, or other intermediary entity.

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^*

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)
07/20/2026

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	07/20/2026		P		1,000	A	$5.93	21,246(1)	D
Common Stock	07/21/2026		P		483	A	$5.9	21,729(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	07/22/2026
	** 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)