Welcome to our dedicated page for Total Return Securities Fund SEC filings (Ticker: SWZ), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Total Return Securities Fund's SEC filings document formal governance and shareholder-voting matters for the NYSE-listed fund. Its proxy materials cover annual meeting business, director elections, auditor ratification, voting procedures, and stockholder proposal mechanics. Fund-related disclosures also frame capital-structure matters such as common-share rights offerings, tender offers, and NAV-based terms when those actions are presented in registration or transaction materials.
Total Return Securities Fund reported insider stock sales over several days in December 2025. A reporting person sold multiple blocks of the fund’s common stock in open-market transactions on 12/22/2025, 12/23/2025, 12/24/2025, and 12/26/2025.
The sales ranged from small lots of fewer than 200 shares to larger trades of more than 10,000 shares, at prices between $6.22 and $6.27 per share. After these transactions, the reporting person beneficially owned 1,706,939 shares of Total Return Securities Fund common stock, held directly.
Total Return Securities Fund has launched an issuer tender offer to buy back up to 4,000,000 shares of its common stock. The Fund will pay a price equal to 98% of net asset value (NAV) per share, with NAV calculated at the close of the regular NYSE trading session on the business day immediately after the offer expires. Payment will be made in cash to tendering shareholders, less any applicable withholding taxes and without interest.
Under SEC rules, the Fund may also purchase up to an additional amount of shares not exceeding 2% of its outstanding shares, described as approximately 339,477 shares, without amending or extending the offer. The terms of the offer are set out in the Offer to Purchase and related Letter of Transmittal dated December 19, 2025.
Total Return Securities Fund reported insider activity by a director and 10% owner on December 15, 2025. The filing shows several dispositions of common stock in blocks of 1,000, 500, 1,000, 500 and 4,000 shares at prices between $6.2 and $6.24 per share. After these transactions, the reporting person beneficially owned 1,735,506 shares of the fund’s common stock, held directly.
CSS LLC/IL filed an amended ownership report on Total Return Securities Fund (SWZ), a closed-end fund, disclosing beneficial ownership of 1,742,506 shares, representing 10.2658% of the fund’s outstanding class as of the event date 12/12/2025.
The filing states that CSS LLC/IL has sole power to vote and to dispose of all of these shares. It also certifies that the securities were not acquired and are not held for the purpose or effect of changing or influencing control of the fund, other than activities solely in connection with a nomination under Rule 240.14a-11.
A reporting person for Total Return Securities Fund discloses beneficial ownership of 1,742,506 shares of the fund’s common stock, held directly, in connection with an event dated 12/12/2025.
The reporting person is identified as a director of the fund, the form is filed by one reporting person, and Table II shows no listed derivative securities such as options or warrants.
Total Return Securities Fund director reported buying additional shares through a rights offering. On 12/11/2025, the director acquired 7,400 shares of common stock at a price of $6.07 per share, using rights that had been issued to shareholders of record as of November 14, 2025. Each right allowed the purchase of one share and holders could request extra shares if available.
After this transaction, the director beneficially owned 11,800 common shares directly, which includes shares previously acquired through the fund’s dividend reinvestment plan. The filing reflects purchases made pursuant to this rights offering.
Total Return Securities Fund insider Andrew Dakos, who serves as Director and President and CEO, reported a purchase of fund shares through a rights offering. On 12/11/2025, he acquired 35,064 shares of common stock, coded as an exercise of rights (transaction code M), at a price of $6.07 per share. This transaction arose from non-transferable rights granted to shareholders on the record date of November 14, 2025, allowing one new share to be purchased for each share owned, with an option to oversubscribe.
Following this transaction, Dakos directly holds 35,128 shares of common stock and has an additional 3,000 shares held indirectly through a limited partnership in which he has a beneficial interest. He disclaims beneficial ownership of the partnership-held shares beyond any pecuniary interest.
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.
Total Return Securities Fund director reports new share acquisition through a rights offering. On 12/11/2025, the reporting person acquired 80,976 shares of common stock at $6.07 per share, increasing their directly held position to 93,224 shares.
The transaction reflects participation in a rights offering where non-transferable rights were issued to stockholders of record as of November 14, 2025 at a rate of one right for each share owned. Each right allowed the holder to purchase one additional common share, with an option to oversubscribe for extra shares if available.
RiverNorth Capital Management, LLC filed an amended Schedule 13G reporting its beneficial ownership in Total Return Securities Fund. The firm reported ownership of 378,637 shares, representing 2.91% of the class, with sole voting and sole dispositive power over all reported shares. The date of the event triggering this filing was 09/30/2025.
The filer is identified as an investment adviser and indicates ownership of 5 percent or less of the class. The filing also notes that other persons have the right to receive the proceeds from the sale of the securities reported.