Total Return Securities (SWZ) director boosts stake with share buys

Rhea-AI Filing Summary

Total Return Securities Fund director Moritz A. Sell reported open-market purchases of the fund’s common stock. He bought a total of 2,155 shares at prices around $5.95–$5.96 per share over two days, increasing his direct holdings to 14,155 shares, including shares acquired through the fund’s dividend reinvestment plan.

Insider Trade Summary

Net Buyer: 2,155 shares ($12,842)

Net Buy 2 txns

Insider SELL MORITZ A

Role null

Bought 2,155 shs ($13K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	2,000	$5.96	$12K
Purchase	Common Stock	155	$5.95	$922.25

Holdings After Transaction: Common Stock — 14,155 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares purchased June 16, 2026: 2,000 shares at $5.96 Shares purchased June 15, 2026: 155 shares at $5.95 Total shares bought: 2,155 shares +2 more

5 metrics

Shares purchased June 16, 2026 2,000 shares at $5.96 Open-market purchase of common stock

Shares purchased June 15, 2026 155 shares at $5.95 Open-market purchase of common stock

Total shares bought 2,155 shares Net open-market purchases in this Form 4

Direct holdings after transactions 14,155 shares Common stock held directly by Moritz A. Sell

Net buy direction 2,155 shares net-buy Transaction summary for this filing

Key Terms

open-market purchase, non-derivative, dividend reinvestment plan, Common Stock

4 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.

non-derivative financial

"transaction_type: non-derivative"

dividend reinvestment plan financial

"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.

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Form 4 Insider Transactions: What Each Field Means →

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)
06/15/2026

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	06/15/2026		P		155	A	$5.95	12,155(1)	D
Common Stock	06/16/2026		P		2,000	A	$5.96	14,155(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	06/17/2026
	** 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)

FAQ

What insider transaction did director Moritz A. Sell report for SWZ?

Director Moritz A. Sell reported buying 2,155 shares of Total Return Securities Fund common stock in open-market transactions. These purchases were made over two days and increased his direct ownership stake in the fund to 14,155 shares.

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

Moritz A. Sell bought SWZ common stock on June 15 and June 16, 2026. He purchased 155 shares at $5.95 per share and 2,000 shares at $5.96 per share in open-market transactions, according to the Form 4 disclosure.

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

After the reported purchases, Moritz A. Sell directly holds 14,155 shares of Total Return Securities Fund common stock. This total includes shares acquired through the issuer’s dividend reinvestment plan, as noted in the filing footnote.

Were the recent SWZ insider transactions buys or sells?

All reported insider transactions by Moritz A. Sell in this Form 4 were open-market purchases of SWZ common stock. The filing shows two separate buy transactions totaling 2,155 shares, with no sales or other dispositions reported.

Does the SWZ Form 4 mention a dividend reinvestment plan?

Yes. A footnote to the Form 4 states that the reported amount includes shares acquired through the issuer’s dividend reinvestment plan. This means part of Moritz A. Sell’s 14,155-share direct holding reflects automatically reinvested dividends.