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Total Return Securities Fund

SWZ
Exchange
NYSE
SEC CIK
0000813623

In the last 90 days, Total Return Securities Fund insiders filed 7 open-market purchases and 0 sales; 42 institutions reported holding it in 13F filings for Q2 2026, worth $32.0M in total; Gardner Russo & Quinn is the only superinvestor holding it.

13F holders, Q4 2025

Institutional positions in Total Return Securities Fund as of Dec 31, 2025. Investment managers with $100 million or more in US stocks report their long positions on Form 13F within 45 days after each quarter ends. How 13F works

Institutional holders
41
−1 vs. Q3 2025
Shares held
8.33M
+1.83M (+28.1%) vs. Q3 2025
Total value
$51.7M
+$12.3M (+31.1%) vs. Q3 2025
New holders
9
14 more added
Sold out
10
8 more reduced

Compare with Q3 2025: new holders, sold out and not filed yet

Holders and value by quarter

Institutions reporting SWZ on Form 13F each quarter since Q1 2021, and the total value they reported. Values are as of each quarter end, so they also move with the share price.

Institutional holdersQ4 2025: 41 institutions
Q1 2021: 35 institutionsQ2 2021: 39 institutionsQ3 2021: 37 institutionsQ4 2021: 36 institutionsQ1 2022: 34 institutionsQ2 2022: 31 institutionsQ3 2022: 31 institutionsQ4 2022: 34 institutionsQ1 2023: 31 institutionsQ2 2023: 33 institutionsQ3 2023: 33 institutionsQ4 2023: 33 institutionsQ1 2024: 36 institutionsQ2 2024: 42 institutionsQ3 2024: 38 institutionsQ4 2024: 38 institutionsQ1 2025: 37 institutionsQ2 2025: 39 institutionsQ3 2025: 42 institutionsQ4 2025: 41 institutionsQ1 2026: 42 institutionsQ2 2026: 42 institutions
Value heldQ4 2025: $51.7M
Q1 2021: $44.0MQ2 2021: $49.9MQ3 2021: $46.7MQ4 2021: $49.9MQ1 2022: $44.9MQ2 2022: $37.2MQ3 2022: $31.0MQ4 2022: $36.3MQ1 2023: $39.0MQ2 2023: $40.0MQ3 2023: $39.9MQ4 2023: $43.8MQ1 2024: $42.2MQ2 2024: $45.5MQ3 2024: $52.8MQ4 2024: $44.5MQ1 2025: $54.9MQ2 2025: $38.1MQ3 2025: $39.5MQ4 2025: $51.7MQ1 2026: $29.3MQ2 2026: $32.0M
Institutions holding SWZ and their total value by quarter
QuarterHoldersValue
Q2 202642$32.0M
Q1 202642$29.3M
Q4 202541$51.7M
Q3 202542$39.5M
Q2 202539$38.1M
Q1 202537$54.9M
Q4 202438$44.5M
Q3 202438$52.8M
Q2 202442$45.5M
Q1 202436$42.2M
Q4 202333$43.8M
Q3 202333$39.9M
Q2 202333$40.0M
Q1 202331$39.0M
Q4 202234$36.3M
Q3 202231$31.0M
Q2 202231$37.2M
Q1 202234$44.9M
Q4 202136$49.9M
Q3 202137$46.7M
Q2 202139$49.9M
Q1 202135$44.0M

Institutions, Q4 2025

Shares, value and share of portfolio for each institution holding Total Return Securities Fund; share changes are against Q3 2025.

Institutions holding SWZ in Q4 2025
InstitutionSharesValue% of portfolioChange in sharesAction
The PNC Financial Services Group, Inc.24$1490.00%−3,694−99.4%Reduced
Royal Bank of Canada249$2.00K0.00%00.0%Unchanged
North Star Investment Management Corp.951$5.92K0.00%00.0%Unchanged
Ancora Advisors, LLC1,068$6.64K0.00%00.0%Unchanged
JPMorgan Chase & Co2,581$16.1K0.00%00.0%Unchanged
Bank of America Corp2,790$17.4K0.00%−2,592−48.2%Reduced
Winmill & Co. Inc3,370$21.1K0.01%+100+3.1%Added
SageView Advisory Group, LLC4,700$29.2K0.00%+4,700New
Marex Group plc10,000$62.2K0.00%+10,000New
Wells Fargo & Company10,565$65.7K0.00%+730+7.4%Added
Integris Wealth Management, LLC12,001$74.7K0.02%00.0%Unchanged
Advisor Group Holdings, Inc.12,437$77.3K0.00%+7,531+153.5%Added
Raymond James Financial Inc13,940$86.7K0.00%+90+0.6%Added
B&L Asset Management LLC14,458$89.9K0.04%−10.0%Reduced
Capital Investment Counsel, Inc14,961$93.1K0.01%+14,961New
TrueMark Investments, LLC15,276$95.0K0.02%+15,276New
Kestra Advisory Services, LLC18,819$117.1K0.00%00.0%Unchanged
UBS Group AG21,074$131.1K0.00%+6,912+48.8%Added
Logan Stone Capital, LLC27,811$173.0K0.04%+27,811New
Gamco Investors, Inc. Et Al32,096$199.6K0.00%+16,048+100.0%Added
Almitas Capital LLC36,781$228.8K0.05%+36,781New
Nixon Peabody Trust Co42,024$261.4K0.02%+42,024New
Morgan Stanley42,272$262.9K0.00%−10,879−20.5%Reduced
Blue Bell Private Wealth Management, LLC64,513$401.3K0.06%−128,190−66.5%Reduced
Commonwealth Equity Services, LLC82,461$512.9K0.00%−40,333−32.8%Reduced
Sit Investment Associates Inc101,837$633.0K0.01%+101,537+33,845.7%Added
Noble Wealth Management PBC101,924$634.0K0.32%+47,712+88.0%Added
Uncommon Cents Investing LLC123,955$771.0K0.19%00.0%Unchanged
Shaker Financial Services, LLC136,198$847.2K0.27%−162,664−54.4%Reduced
Gardner Russo & Quinn LLCSuperinvestorGardner Russo & Quinn146,284$909.9K0.01%−287,953−66.3%Reduced
Bulldog Investors, LLP161,903$1.01M0.22%+55,001+51.4%Added
Yakira Capital Management, Inc.192,016$1.19M0.40%00.0%Unchanged
Evolve Private Wealth, LLC217,896$1.36M0.08%+217,896New
Rivernorth Capital Management, LLC437,018$2.72M0.13%+58,381+15.4%Added
Icon Advisers Inc545,899$3.40M0.73%+545,899New
Saba Capital Management, L.P.605,224$3.76M0.13%+302,612+100.0%Added
Matisse Capital610,000$3.79M1.70%+3,000+0.5%Added
CF Capital LLC661,145$4.11M2.04%+467,622+241.6%Added
CSS LLC1,659,007$10.3M0.58%+1,114,324+204.6%Added
Allspring Global Investments Holdings, LLC2,127,310$13.2M0.02%00.0%Unchanged
Private Management Group Inc10,545––00.0%Unchanged
Karpus Management, Inc.0$00.00%−206,753−100.0%Sold out
Uhlmann Price Securities, LLC0$00.00%−111,654−100.0%Sold out
Boothbay Fund Management, LLC0$00.00%−87,500−100.0%Sold out
Alpine Global Management, LLC0$00.00%−87,500−100.0%Sold out
Quarry LP0$00.00%−75,080−100.0%Sold out
Delta Capital Management LLC0$00.00%−33,363−100.0%Sold out
Susquehanna International Group, LLP0$00.00%−19,315−100.0%Sold out
Guggenheim Capital LLC0$00.00%−10,954−100.0%Sold out
Federation des caisses Desjardins du Quebec0$00.00%−1,829−100.0%Sold out
CWM, LLC0$00.00%−835−100.0%Sold out