SWZ: Director Phillip Goldstein buys 10,000 Total Return Securities Fund (SWZ) shares

Rhea-AI Filing Summary

Total Return Securities Fund director and secretary Phillip Goldstein reported an open-market purchase of 10,000 shares of the fund’s common stock on March 5, 2026 at a price of $5.99 per share. Following this transaction, his directly held stake increased to 103,234 shares.

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^*

GOLDSTEIN PHILLIP

(Last) (First) (Middle)

60 HERITAGE DRIVE

(Street)

PLEASANTVILLE NY 10570

(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)

X	Director		10% Owner
X	Officer (give title below)	X	Other (specify below)
	Secretary		Affiliate of the Adviser

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2026

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	03/05/2026		P		10,000	A	$5.99	103,234	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	03/09/2026
	** 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.

FAQ

What insider transaction did SWZ’s Phillip Goldstein report?

Phillip Goldstein reported buying 10,000 shares of Total Return Securities Fund common stock. The purchase was an open-market transaction at $5.99 per share, increasing his directly held position to 103,234 shares after the trade, according to the Form 4 disclosure.

When did Phillip Goldstein buy additional SWZ shares?

Phillip Goldstein bought additional Total Return Securities Fund shares on March 5, 2026. On that date, he executed an open-market purchase of 10,000 common shares at $5.99 per share, as reflected in the Form 4 insider trading report for SWZ.

How many SWZ shares does Phillip Goldstein own after this Form 4?

After this transaction, Phillip Goldstein directly owns 103,234 shares of Total Return Securities Fund common stock. His holdings rose when he purchased 10,000 additional shares in an open-market transaction at $5.99 per share, as reported in the Form 4 filing.

What price did Phillip Goldstein pay per share for SWZ stock?

Phillip Goldstein paid $5.99 per share for Total Return Securities Fund common stock. The Form 4 shows he acquired 10,000 shares at this price in an open-market purchase, bringing his total directly held position to 103,234 common shares following the transaction.

What is Phillip Goldstein’s role at Total Return Securities Fund (SWZ)?

Phillip Goldstein serves as both a director and the secretary of Total Return Securities Fund. He is also identified as an affiliate of the adviser, and recently reported buying 10,000 SWZ common shares, increasing his direct holdings to 103,234 shares.