Allspring Files 13G/A Showing 16.4% Stake in Total Return Securities Fund

Rhea-AI Filing Summary

Allspring Global Investments Holdings, LLC filed an amended Schedule 13G reporting beneficial ownership of 2,127,310 shares of Total Return Securities Fund Class B shares, which represents 16.4% of the class. The filing states 2,013,125 shares are held with sole voting power and 2,127,310 shares with sole dispositive power, and that the securities are owned of record by clients of Allspring-related investment advisers. The filer certifies the position is held in the ordinary course of business and not for the purpose of changing control.

Positive

• Material, disclosed stake of 2,127,310 shares (16.4%) provides transparency to investors
• Sole voting power reported for 2,013,125 shares clarifies voting control held by the filer
• Filer certification confirms the position is held in the ordinary course and not to influence control

Negative

• High concentration: a single reporting person holds 16.4% of the class, which may create dependence on one large holder
• Potential monitoring need because a large passive stake could trigger closer scrutiny if intent changes

Insights

Institutional Ownership Analyst

Significant passive stake reported: 16.4% ownership in Class B shares.

The filing shows Allspring Global Investments Holdings, LLC beneficially owns 2,127,310 shares representing 16.4% of the Class B shares, with sole voting and dispositive power over most shares. This level of ownership is large enough to be a notable shareholder for a mutual-fund share class.

Dependence and risks include concentration: a single parent entity and its advisers control voting and disposition for this stake, though the certifying language states the position is held in the ordinary course and not to influence control. Monitor any future amendments or Form 13D filings for changes in intent or increases in stake over the next quarter.

Compliance & Regulatory Specialist

Filing classification and certification limit control implications.

The report is filed as a Schedule 13G amendment and includes the required certification that the shares were not acquired to change or influence control. Exhibit notes identify related investment-adviser subsidiaries that manage the record ownership for clients. That structure is consistent with passive investor disclosures under the Exchange Act rules.

Key items to watch are any future reclassification to a Schedule 13D or supplemental exhibits identifying specific large clients; such changes would signal a shift from passive to active intent within typical SEC timeframes.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Total Return Securities Fund

(Name of Issuer)

Mutual Fund SH CL B

(Title of Class of Securities)

870875101

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 870875101

1

Names of Reporting Persons

Allspring Global Investments Holdings, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,013,125.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,127,310.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,127,310.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

16.4 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Total Return Securities Fund
(b)	Address of issuer's principal executive offices: C/O U.S. BANK GLOBAL FUND SERVICES, 615 EAST MICHIGAN STREET, MILWAUKEE, WI, 53202
Item 2.
(a)	Name of person filing: Allspring Global Investments Holdings, LLC
(b)	Address or principal business office or, if none, residence: 1415 Vantage Park Drive, Charlotte, 28203, North Carolina, United States
(c)	Citizenship: DELAWARE
(d)	Title of class of securities: Mutual Fund SH CL B
(e)	CUSIP No.: 870875101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2,127,310
(b)	Percent of class: 16.4 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2,013,125
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2,127,310
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The securities as to which this Schedule is filed are owned of record by clients of one or more investment Advisers identified in Exhibit A directly or indirectly owned by Allspring Global Investments Holdings, LLC. Those Clients have the right to receive, or the power to direct the receipt of, dividends from, or the proceeds for the sale of, such securities. No such client is known to have such right or power with respect to more than five percent of this class of securities, except as follows: None
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit A
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Allspring Global Investments Holdings, LLC

Signature:	Jennifer Grunberg
Name/Title:	Senior Compliance Manager
Date:	10/06/2025

Exhibit Information

Allspring Global Investments, LLC* - IA Allspring Funds Management, LLC - IA *Entity beneficially owns 5% or greater of the outstanding shares of the security class being reported on this schedule 13G.

FAQ

What stake does Allspring Global (SWZ) report in Total Return Securities Fund Class B?

The filing reports beneficial ownership of 2,127,310 shares, equal to 16.4% of the Class B shares.

How many shares does Allspring have sole voting power over?

Allspring reports sole voting power over 2,013,125 shares.

Is the position intended to influence control of the issuer (SWZ)?

No. The filer certified the securities were acquired and are held in the ordinary course of business and not to change or influence control.

Who actually owns the shares of record according to the filing?

The securities are owned of record by clients of investment advisers identified in Exhibit A, which are directly or indirectly owned by Allspring Global Investments Holdings, LLC.

Does the filing identify subsidiaries or advisers involved?

Yes. Exhibit information lists Allspring Global Investments, LLC and Allspring Funds Management, LLC as related investment-adviser entities.