Company: SWZ
Filing Date: 2025-10-03
Form Type: N-2
Source: 0001999371-25-014685
Chunk: 1

Company: Total Return Securities Fund
Filing Date: 2025-10-03
Form: N-2
Chunk 1
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 Act).                                                                      |
| ☐ | Emerging Growth                                                                                                                
 Company (as defined by Rule 12b-2 under the Securities and Exchange Act of 1934).                                              |
| ☐ | If an Emerging Growth                                                                                                          
 Company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with     
 any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.               |
| ☐ | New Registrant (registered                                                                                                     
 or regulated under the Investment Company Act for less than 12 calendar months preceding this filing).                         |

Pursuant to Rule 473 under the Securities Act of 1933, as amended, the Registrant hereby amends the Registration Statement to delay its effective date until the Registrant shall file a further amendment that specifically states that the Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, or until the Registration Statement shall become effective on such date as the Commission, acting pursuant to Section 8(a), may determine.

The information in this prospectus is not complete and may be changed. The Fund may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

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

[● ]Rights for [● ] Shares of Common Stock</div>

Total Return Securities Fund (f/k/a The Swiss Helvetia Fund) (the “Fund”) is issuing non-transferable rights (“Rights”) to its holders of record of shares of common stock (“Shares”) (such holders hereinafter referred to as “Shareholders”), which Rights will allow Shareholders to subscribe for new Shares (the “Offering”). For each one (1) Right a Shareholder receives, such Shareholder will be entitled to buy one (1) new Share. Each Shareholder will receive one (1) Right for each Share it owns on [●], 2025 (the “Record Date”). Fractional Rights will not be issued, and the number of Rights to be issued to a Shareholder on the Record Date (a “Rights Holder”) will be rounded up to the nearest whole number of Rights. Each Rights Holder may purchase Shares not acquired by other Rights Holders in this Offering (the “Unsubscribed Shares”),