Company: SWZ
Filing Date: 2025-11-14
Form Type: 424B2
Source: 0001999371-25-017927
Chunk: 78

Company: Total Return Securities Fund
Filing Date: 2025-11-14
Form: 424B2
Chunk 78
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 and materials to be supplied to the Directors; monitors the activities of the Fund’s custodian; coordinates the preparation and payment of the Fund’s expenses and reviews the Fund’s expense accruals. Fund Services also serves as the Fund’s fund accountant. For the fiscal year ended December 31, 2024, the Fund paid Fund Services $125,916 for its administration and accounting services.

The principal business address for Fund Services is 615 East Michigan Street Milwaukee, WI 53202.

U.S. Bank, N.A. (“U.S. Bank”), an affiliate of Fund Services, serves as the Fund’s custodian. The principal business address for U.S. Bank is 1555 North RiverCenter Drive, Suite 300, Milwaukee, WI 53212.

<div align='center'>B-15</div>

Equiniti Trust Company, LLC, located at 6201 15th Avenue, Brooklyn, NY 11219, serves as the Fund’s transfer agent and registrar.

<div align='center'>PORTFOLIO MANAGERS</div>

The Fund is managed by Bulldog. Messers. Dakos and Goldstein serve as Partners of Bulldog. The business experience of each of Messrs. Dakos and Goldstein during the past five (5) years is as follows:

Andrew Dakos: Partner in Bulldog since its inception in October 2009 and Ryan Heritage, LLP, each a registered investment adviser. Mr. Dakos also is a member of Bulldog Holdings, LLC, the owner of several entities that served until 2020 as the general partner of several private investment partnerships in the Bulldog Investors group of funds, and the owner of Kimball & Winthrop, LLC, the managing general partner of Bulldog Investors General Partnership, since 2012. He is a director/trustee of the following closed-end funds: Special Opportunities Fund, Inc. since 2009, and High Income Securities Fund since 2018. He also is a director of: Brookfield DTLA Fund Office Trust Investor, a subsidiary of a large commercial real estate company, since 2017, and Tejon Ranch Co., a real estate development company, since 2025. He served as a director of BNY Mellon Municipal Income, Inc., a closed-end fund, from 2024-2025 and as a trustee of Crossroads Liquidating Trust from 2015-2020.

Phillip Goldstein: Partner in Bulldog since its inception in October 2009 and