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 activity involving President and CEO Andrew Dakos. A limited partnership in which he has a beneficial interest bought a total of 8,000 shares of common stock in open-market purchases on February 19–20, 2026 at prices around $6.11–$6.16 per share. These holdings are reported as indirect. A separate line shows his direct ownership at 39,453 common shares following the most recent update.
Phillip Goldstein, a director of Total Return Securities Fund, reported buying additional shares of the fund’s common stock. On 02/06/2026, he purchased 10,000 shares at a price of $6.07 per share. Following this transaction, he directly owns 82,910 common shares.
Total Return Securities Fund President and CEO Andrew Dakos, who is also a director of SWZ, reported open-market purchases of a total of 16,000 shares of common stock on February 3–4, 2026, at prices between $5.96 and $6.04 per share.
Following these transactions, Dakos directly owned 39,453 shares of SWZ common stock. An additional 2,003 shares are held by a limited partnership in which he has a beneficial interest, and he disclaims beneficial ownership beyond any pecuniary interest.
Total Return Securities Fund director Moritz A. Sell increased his holdings through two open-market purchases of common stock. On February 2, 2026, he bought 1,120 shares at $5.98 per share. On February 3, 2026, he bought 1,000 shares at $5.96 per share, bringing his directly held position to 9,998 shares. The reported amount includes shares acquired through the fund’s dividend reinvestment plan.
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.
Total Return Securities Fund director Gerald Hellerman reported a sale of common stock in a transaction dated January 23, 2026. He disposed of 1,755 shares of the fund’s common stock at a price of $6.81 per share.
After this sale, Hellerman directly beneficially owned 3,527 common shares. The filing notes that the shares were sold back to the issuer under an issuer tender offer that is exempt under Rule 16b-3, which is a rule governing certain insider transactions.
Total Return Securities Fund director Phillip Goldstein reported a sale of common stock on January 23, 2026. He disposed of 31,314 shares of the fund’s common stock at a price of $6.81 per share, in a transaction coded "D" for a disposition. According to the footnote, the shares were sold back to the issuer in connection with a tender offer that is exempt under Rule 16b-3.
After this transaction and an adjustment, Goldstein beneficially owns 62,910 shares of common stock directly. A second footnote explains that this balance reflects an additional 1,000 shares that were purchased in a rights offering and were inadvertently omitted from his Form 4 filed on December 12, 2025, so this filing also corrects his previously reported holdings.
Total Return Securities Fund president and CEO Andrew Dakos, who is also a director, reported sales of common stock pursuant to a tender offer exempt under Rule 16b-3.
On January 23, 2026, a limited partnership associated with Dakos sold 997 shares of common stock at $6.81 per share, leaving 2,003 shares held indirectly through the partnership. Dakos disclaims beneficial interest in those partnership shares except to the extent of any pecuniary interest.
On the same date, Dakos also sold 11,675 shares of common stock held directly at $6.81 per share, and reported 23,453 shares of common stock owned directly after the transaction.
Total Return Securities Fund officer Rajeev P. Das reported a small share sale under a Form 4. On 01/23/2026, he disposed of 166 shares of common stock at $6.81 per share. The filing notes this represents a sale of shares back to the issuer pursuant to a tender offer that is exempt under Rule 16b-3, which governs certain insider transactions. After this transaction, Das beneficially owned 334 shares of the fund’s common stock held directly.
Total Return Securities Fund director SELL MORITZ A reported a sale of common stock in a tender offer. On 01/23/2026, the director disposed of 3,922 shares of the fund’s common stock at $6.81 per share, with the shares sold back to the issuer under a tender offer that is exempt under Rule 16b-3. After this transaction, the director beneficially owns 7,878 shares, which the disclosure notes include shares acquired through the issuer’s dividend reinvestment plan.