Total Return Securities Fund (SWZ) officer exercises rights to buy 468 shares at $6.07

Rhea-AI Filing Summary

Total Return Securities Fund (SWZ) reported an insider share purchase by an officer who serves as Secretary. On 12/11/2025, the reporting person acquired 468 shares of common stock in a transaction coded "M," indicating the exercise of previously issued rights. The shares were acquired at a price of $6.07 per share, bringing the officer’s total directly held beneficial ownership to 500 common shares after the transaction.

The filing explains that non-transferable rights were issued to stockholders of record as of November 14, 2025 in connection with a rights offering. Each right allowed the holder to purchase one share of common stock, with the ability to oversubscribe for additional shares if available. The reported purchase reflects shares acquired through this rights offering.

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

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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^*

Das Rajeev P

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/11/2025

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	12/11/2025		M(1)		468	A	$6.07	500	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. Non-transferable rights were issued to holders of record of shares of common stock of the Issuer as of November 14, 2025 in connection with a rights offering by the Issuer at the rate of one right for each share of common stock owned. Every right received by the holder entitled such holder to purchase one share of common stock and holders were entitled to oversubscribe for additional shares if available. Purchases made pursuant to the rights offering are reflected in this filing.

	/s/ Stephanie Darling, as Power of Attorney for Rajeev Das	12/12/2025
	** 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.

FAQ

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

An officer of Total Return Securities Fund (SWZ) reported acquiring 468 shares of common stock on 12/11/2025 through the exercise of rights from a rights offering.

At what price were the SWZ shares acquired in this Form 4 filing?

The 468 SWZ common shares were acquired at a purchase price of $6.07 per share.

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

Following the reported transaction, the officer beneficially owns 500 shares of SWZ common stock in direct ownership form.

What was the structure of the rights offering described by SWZ?

The rights offering issued non-transferable rights to holders of record as of November 14, 2025, at a rate of one right for each common share, with each right allowing the purchase of one common share and permitting oversubscription for additional shares if available.

Who is the reporting person’s role at Total Return Securities Fund (SWZ)?

The reporting person is an officer of Total Return Securities Fund and holds the title of Secretary.

Is this SWZ Form 4 filed by one or multiple reporting persons?

This Form 4 is indicated as being filed by one reporting person, not a group filing.