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, a closed-end management investment company, has filed a final amendment detailing the completion of its issuer tender offer for its common stock. The fund had offered to purchase up to 4,000,000 shares at a price equal to 98% of net asset value per share, with NAV measured as of the close of trading on January 21, 2026. The offer expired at 5:00 p.m. Eastern Time on January 20, 2026. This amendment reports that final results have been announced in a press release dated January 22, 2026, which is filed as an exhibit and incorporated by reference.
Total Return Securities Fund launched an issuer tender offer to buy back up to 4,000,000 shares of its common stock at a price equal to 98% of net asset value (NAV) per share, with NAV determined at the close of trading on January 21, 2026. The offer expired at 5:00 p.m. Eastern Time on January 20, 2026, and was structured as a cash purchase, less any applicable withholding taxes and without interest.
This amendment to the original Schedule TO mainly updates investors that the fund issued a press release on January 21, 2026 announcing preliminary tender offer results, which is filed as an exhibit and incorporated by reference. Other terms of the offer, including pricing, timing, and documentation such as the Offer to Purchase and Letter of Transmittal, remain unchanged.
Allspring Global Investments Holdings, LLC reports beneficial ownership of 2,127,310 Mutual Fund SH CL B shares of Total Return Securities Fund, representing 12.5% of the class as of 12/31/2025. Allspring has sole power to vote 2,013,125 of these shares and sole power to dispose of all 2,127,310 shares, with no shared voting or dispositive power.
The securities are held of record by clients of investment advisers owned directly or indirectly by Allspring, and those clients are entitled to dividends and sale proceeds. The filing states the position is held in the ordinary course of business and not for the purpose of changing or influencing control of the fund. A subsidiary, Allspring Global Investments, LLC, beneficially owns 5% or more of this share class.
CSS LLC/IL filed an amended Schedule 13G reporting its beneficial ownership in the Total Return Securities Fund. As of the event date, the firm beneficially owned 1,686,971 shares, representing 9.9386% of the fund’s outstanding shares. CSS LLC/IL has sole voting and sole dispositive power over all of these shares, with no shared voting or dispositive authority.
The filing classifies CSS LLC/IL as organized in Illinois and confirms that the position is not held for the purpose of changing or influencing control of the fund and is not part of any group or control transaction. The event triggering this filing occurred on 12/30/2025, and the certification states that the information provided is true, complete, and correct.
Total Return Securities Fund reported insider stock sales. A reporting person filed details of several open-market sales of the fund’s common stock on December 29 and 30, 2025 at prices between $6.24 and $6.27 per share. After these transactions, the insider directly beneficially owned 1,686,971 shares of common stock.
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.