Company: SWZ
Filing Date: 2025-10-03
Form Type: N-2
Source: 0001999371-25-014685
Chunk: 95

Company: Total Return Securities Fund
Filing Date: 2025-10-03
Form: N-2
Chunk 95
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| Legal                          
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| Printing,                      
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| Miscellaneous(1)               |     |   |     | [●] |
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| (1) | To                     
 be filed by amendment. |

Item 28. Persons Controlled by or Under Common Control With Registrant

None.

Item 29. Number of Holders of Securities

Set forth below is the number of record holders as of June 30, 2025, of each class of securities of the Registrant:

| Title                            
 of Class                         |  Number 
      of 
  Record 
 Holders |
| Common                           
 Stock, par value $.001 per share |  12,991 |

Item 30. Indemnification

It is the Registrant’s policy to indemnify its directors and officers to the maximum extent permitted by law, including the Delaware General Corporation Law and the Investment Company Act of 1940, as set forth in Article TWELFTH of the Registrant’s Articles of Incorporation, as amended to date (the “Charter”) and Article V, Section 5 of the Registrant’s By-Laws.

Insofar as indemnification for liability arising under the Securities Act of 1933, as amended (the “Securities Act of 1933”) may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the U.S. Securities and Exchange Commission (“SEC”) such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in