Company: SWZ
Filing Date: 2025-10-03
Form Type: N-2
Source: 0001999371-25-014685
Chunk: 0

Company: Total Return Securities Fund
Filing Date: 2025-10-03
Form: N-2
Chunk 0
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<div align='center'>As filed with the Securities and Exchange Commission on October 3, 2025</div>

1933 Act File No. 333-[●]

1940 Act File No. 811-05128

<div align='center'>UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-2</div>

Check appropriate box or boxes

| ☒ | REGISTRATION                               
 STATEMENT UNDER THE SECURITIES ACT OF 1933 |
| ☐ | Pre-Effective                              
 Amendment No.                              |
| ☐ | Post-Effective                             
 Amendment No. __                           |

<div align='center'>and</div>

| ☒ | REGISTRATION                                       
 STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 |
| ☒ | Amendment                                          
 No. 14                                             |

<div align='center'>Total Return Securities Fund

(Registrant Exact Name as Specified in Charter)

c/o U.S. Bank Global Fund Services

615 East Michigan Street

Milwaukee, WI 53202

(Address of Principal Executive Offices)

1- 800- 730-2932

(Registrant’s Telephone Number, including Area Code)</div>

| Name and Address            
 of Agent for Service:       | Copies of Communications 
 to:                      |
| Andrew                      
 Dakos                       | William                  
 G. Farrar, Esq.          |
| c/o Bulldog Investors,      
 LLP                         | Sullivan &               
 Cromwell LLP             |
| Park 80 West |              
 250 Pehle Avenue, Suite 708 | 125 Broad Street         |
| Saddle Brook,               
 NJ 07663                    | New York, NY 10004       |

| Approximate                                                                                                       
 Date of Proposed Public Offering: As soon as practicable after the effective date of this Registration Statement. |

| ☐ | Check box if the                                                                                                            
 only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans.        |
| ☐ | Check box if any                                                                                                            
 securities being registered on this Form will be offered on a delayed or continuous basis in reliance on Rule 415 under the 
 Securities Act of 1933 (“Securities Act”), other than securities offered in connection with a dividend reinvestment         
 plan.                                                                                                                       |
| ☐ | Check box if this                                                                                                           
 Form is a registration statement pursuant to General Instruction A.2 or a post-effective amendment thereto.                 |
| ☐ |