Director Phillip Goldstein buys 10,000 SWZ shares at $5.92 in Form 4

Rhea-AI Filing Summary

Total Return Securities Fund director Phillip Goldstein reported buying additional shares of the fund’s common stock. On 01/30/2026, he purchased 10,000 shares at a price of $5.92 per share, increasing his directly held position to 72,910 shares after the transaction.

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

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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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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	01/30/2026		P		10,000	A	$5.92	72,910	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	02/03/2026
	** 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 director Phillip Goldstein report?

Director Phillip Goldstein reported purchasing 10,000 shares of Total Return Securities Fund common stock. The transaction occurred on 01/30/2026 and was coded as a purchase, indicating an open-market or similar acquisition that increased his directly held stake in the fund.

At what price did Phillip Goldstein buy SWZ shares?

Phillip Goldstein bought 10,000 SWZ common shares at a price of $5.92 per share. This reported transaction price reflects the cost per share for the trade executed on 01/30/2026 and is disclosed as part of his Form 4 filing.

How many SWZ shares does Phillip Goldstein own after this transaction?

After the 10,000-share purchase, Phillip Goldstein beneficially owns 72,910 SWZ common shares directly. This post-transaction amount is disclosed in the Form 4 as the total number of shares he holds following the reported trade on 01/30/2026.

Is Phillip Goldstein a director or officer of Total Return Securities Fund (SWZ)?

Phillip Goldstein is listed as a director of Total Return Securities Fund. The Form 4 indicates his relationship to the issuer by checking the “Director” box, while the “Officer” and “10% Owner” boxes are not selected in the reporting section.

Is Goldstein’s SWZ ownership direct or through another entity?

The Form 4 reports Goldstein’s 72,910 SWZ shares as held with a direct ownership form. The ownership column is marked “D” for direct, and there is no separate nature of indirect beneficial ownership indicated for this particular transaction or holding.

What type of security did Phillip Goldstein acquire in SWZ?

Phillip Goldstein acquired common stock of Total Return Securities Fund. Table I of the Form 4 lists the title of the security as “Common Stock,” and no derivative securities transactions are reported in Table II for this filing date.