SWZ · Total Return Securities Fund · Holdings

$5.85 +0.04 (+0.69%) At close · Oct 23

Volume · Oct 23 37.95K Avg daily vol (3M) 29.08K

Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.

Use institutional holdings through the 13F API or MCP → See every holder of SWZ: 13F, 13D and 13G, insiders and funds →

The Sep 30, 2026 filing window is still open — showing the latest known positions. Funds that have not filed yet carry their prior-quarter positions; a fund that filed without this stock counts as sold out. Each fund's Change is measured against its own previous reported quarter, shown in the Reported column. Pick a completed quarter in the Quarter selector below to put every fund on one quarter and see the stock-wide activity breakdown.

Quarter:

Holders: 41

Total Value: $31,950,806

Total Shares: 5,402,006

Institutional Ownership Trend

27 quarters

Superinvestors Holding SWZ

All superinvestors →

Tom Russo $580,141 Mario Gabelli $190,650

Holder Concentration

Across 42 13F filers

Top Holder

19.3%

of institutional value

Top 5

62.4%

of institutional value

Top 10

81.5%

of institutional value

HHI

993

Broadly held

Who Holds SWZ

Last 8 quarters through Sep 30, 2026 (filing window open)

Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book. The quarter selector does not change this card.

Jun 30, 2026, the newest closed quarter: 42 filers, like-for-like change +8.8%; actively managed books +9.0%; index-like books -9.8%.

Holder type	Share	Filers	Change	New	Exited
Registered adviser	55.6%	23	+9.6%	1	2
Adviser	0.1%	2	0.0%	0	0
Bank	16.7%	5	+1246.4%	1	1
Broker-dealer	0.5%	1	new	1	0
Holding company	1.5%	2	-88.8%	0	1
Unknown	25.8%	9	-2.6%	3	3

Style	Share	Filers	Change	New	Exited
Index-like	0.9%	1	-9.8%	0	0
Systematic-like	2.3%	2	+119.6%	0	0
Concentrated	7.0%	6	+36.3%	0	1
Diversified active	89.9%	33	+6.0%	6	6
Not measured	0.0%	0	—	0	0
Unknown	0.0%	0	—	0	0

Turnover	Share	Filers	Change	New	Exited
Low turnover	39.5%	20	+114.0%	4	4
Medium turnover	30.0%	12	-27.5%	1	3
High turnover	27.2%	7	-3.4%	1	0
Unknown	3.4%	3	-15.6%	0	0
Not measured	0.0%	0	—	0	0

Holding horizon	Share	Filers	Change	New	Exited
Short horizon	9.1%	5	+52.6%	0	0
Medium horizon	4.8%	6	-14.8%	0	2
Long horizon	40.4%	23	+29.8%	5	5
Unknown	45.8%	8	-7.0%	1	0
Not measured	0.0%	0	—	0	0

13F book size	Share	Filers	Change	New	Exited
Under $1B	63.6%	21	+17.0%	2	1
$1B to $10B	14.8%	9	-27.6%	0	2
$10B to $100B	2.9%	4	-79.9%	1	2
$100B or more	18.7%	8	+646.4%	3	2
Not measured	0.0%	0	—	0	0

Client base	Share	Filers	Change	New	Exited
Individuals and high net worth	15.2%	12	+28.6%	1	0
Pooled investment vehicles	17.5%	5	+47.1%	0	0
Registered funds and BDCs	9.2%	3	-43.0%	0	0
Pension and profit sharing plans	11.3%	1	+49.5%	0	0
Diversified	2.4%	2	0.0%	0	0
Corporations	0.0%	0	-100.0%	0	1
Other investment advisers	0.0%	0	-100.0%	0	1
Unknown	44.4%	19	+7.9%	5	5

Private funds	Share	Filers	Change	New	Exited
Hedge funds	30.2%	9	+11.7%	1	1
Other private funds	1.8%	1	0.0%	0	0
No private funds	23.5%	13	+7.7%	0	1
Venture capital funds	0.0%	0	—	0	0
Unknown	44.4%	19	+7.9%	5	5

Location	Share	Filers	Change	New	Exited
United States	99.3%	40	+9.6%	6	6
Outside the US	0.7%	2	-46.0%	0	1

The Sep 30, 2026 filing window is still open, so its bar carries the Jun 30, 2026 positions of filers that have not filed yet.

How the mix is measured

Shares are 13F common shares restated to today's split basis; options and principal amounts are left out. The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none was. Actively managed books are those measured systematic-like, concentrated or diversified active.

Excluded 1 holder with no observed 2026-03-31 13F.

Conviction and Crowding

42 13F filers, quarter ended Jun 30, 2026

Measured across every 13F filer's common-share book once the quarter's filing window closed. Crowding counts filers with high turnover or that advise private funds on Form ADV.

Conviction holders

0.000% of filers hold it in their top 10

Mar 31, 2026: 0

Holders above 5%

median weight 0.008%

Mar 31, 2026: 0

Crowding

—

no cover-page share count is dated within about a year of the quarter end

Private-fund advisers

—

of shares outstanding

Institutional ownership

—

no cover-page share count is dated within about a year of the quarter end

Top 10 holders

81.5%

of 13F shares, Herfindahl 0.099

Active holders

+9.0%

like-for-like share change of active filers

5% stakes on record

0 13D, 3 13G (1 institutional, 2 passive, 0 exempt)

How long holders have held it value-weighted 11.8 quarters

Under 1 year 39.6% 1 to 3 years 22.8% 3 years or more 37.6% Since coverage start 0.000%

Managers in the top fifth by current three-year FundScore alpha were net buyers of $0 (0 buying, 0 selling).

Estimated Holder Cost Basis

Quarter ended Jun 30, 2026, on that quarter's share basis

Estimated, never filed: each 13F buy is costed at its quarter's average traded price and each sale keeps the average cost, so this is what holders paid on average if they traded evenly through each quarter.

Estimated avg cost

$6.25

estimated per share

Mar 31, 2026: $6.49

Quarter-end price

$5.94

implied by 13F values

Estimated gain or loss

-5.0%

price against the estimated cost

Estimated at a loss

100.0%

of costed 13F value

Estimated cost covers 60.8% of the 13F shares; positions already held when a filer's 13F history starts, or bought in a quarter without a trusted average price, have no estimate.

Fund Ownership of SWZ by Fund Type

Registered funds' Form N-PORT reports for the quarter ended Jun 30, 2026

Index funds and index ETFs hold 0 shares.

Fund type	Shares	Funds
Index funds	0	0
Index ETFs	0	0
Active ETFs	41,768	2
Active funds	835,220	2
Unclassified	0	0
All registered funds	876,988	4

How fund types are measured

Each fund series counts once, with its latest Form N-PORT report dated inside the quarter; only long share positions count, restated to today's split basis. The fund type is the series' latest Form N-CEN answer on or before the quarter end (the index-fund box and the exchange-traded flag), never its name. Unclassified funds have no usable N-CEN; unit investment trusts are among them, so index ownership is a floor. Funds sit inside their advisers' 13F reports, so these shares overlap the 13F figures and are never added to them.

Holder type: Registered adviser 22 Adviser 2 Bank 5 Broker-dealer 1 Holding company 2 Unknown 9

Showing 41 of 41

All Common Calls Puts

Compact Export CSV

Holder

Value (USD)

% of 13F

CSS LLC/IL

$6,178,728

19.34%

1,040,190

BANK OF AMERICA CORP /DE/

$5,152,136

16.13%

867,363

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
MERRILL LYNCH, PIERCE, FENNER & SMITH INC.	867,363	$5,152,136	100.0%	Defined

Matisse Capital

$3,617,460

11.32%

609,000

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Manager 1	220,000	$1,306,800	36.1%	Other
Held directly	389,000	$2,310,660	63.9%	Sole

ICON ADVISERS INC/CO

$2,650,546

8.30%

446,220

Shaker Financial Services, LLC

$2,420,362

7.58%

424,625

Saba Capital Management, L.P.

$2,400,235

7.51%

404,080

Logan Stone Capital, LLC

$1,177,052

3.68%

198,157

BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC

$1,001,543

3.13%

168,610

EVOLVE PRIVATE WEALTH, LLC

$826,800

2.59%

139,192

Yakira Capital Management, Inc.

$745,808

2.33%

125,557

Almitas Capital LLC

$686,551

2.15%

115,581

LANDSCAPE CAPITAL MANAGEMENT, L.L.C.

$581,210

1.82%

97,847

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Landscape High Leverage Fund, LP	18,166	$107,906	18.6%	Defined
LANDSCAPE OFFSHORE HL FUND LTD.	50,663	$300,938	51.8%	Defined
Held directly	29,018	$172,366	29.7%	Sole

GARDNER RUSSO & QUINN LLC

$580,141

1.82%

97,667

Uncommon Cents Investing LLC

$474,143

1.48%

83,183

Alpine Global Management, LLC

$349,622

1.09%

58,859

COMMONWEALTH EQUITY SERVICES, LLC

$333,061

1.04%

56,071

MORGAN STANLEY

$276,209

0.86%

46,500

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
MORGAN STANLEY CAPITAL SERVICES, LLC	701	$4,163	1.5%	Defined
MORGAN STANLEY SMITH BARNEY LLC	45,799	$272,046	98.5%	Defined

Bulldog Investors, LLP

$239,583

0.75%

40,334

Noble Wealth Management PBC

$221,627

0.69%

38,882

SUSQUEHANNA INTERNATIONAL GROUP, LLP

$219,952

0.69%

37,029

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
G1 EXECUTION SERVICES, LLC	37,029	$219,952	100.0%	Other

Cutler Capital Management, LLC

$213,370

0.67%

35,921

HRT FINANCIAL LP

$209,456

0.66%

35,262

OSAIC HOLDINGS, INC.

$207,965

0.65%

35,011

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
OSAIC WEALTH, INC.	31,511	$187,175	90.0%	Defined
Osaic Advisory Services, LLC	3,500	$20,790	10.0%	Defined

GAMCO INVESTORS, INC. ET AL

$190,650

0.60%

32,096

XTX Topco Ltd

$147,614

0.46%

24,851

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
XTX EXECUTION SERVICES LLC joint	24,851	$147,614	100.0%	Defined

LPL Financial LLC

$146,118

0.46%

24,599

WELLS FARGO & COMPANY/MN

$104,572

0.33%

17,605

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
WELLS FARGO BANK N A	2,360	$14,018	13.4%	Defined
WELLS FARGO ADVISORS FINANCIAL NETWORK, LLC	13,526	$80,344	76.8%	Defined
WELLS FARGO CLEARING SERVICES, LLC	1,719	$10,210	9.8%	Defined

Belpointe Asset Management LLC

$85,880

0.27%

14,458

Fortis Capital Advisors, LLC

$85,880

0.27%

14,458

MCCARTER PRIVATE WEALTH SERVICES LLC

$82,416

0.26%

14,459

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Timber Point Capital	14,459	$82,416	100.0%	Other

UBS Group AG

$68,874

0.22%

11,595

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
UBS Financial Services Inc	11,595	$68,874	100.0%	Defined

PRIVATE MANAGEMENT GROUP INC

$62,637

0.20%

10,545

TrueMark Investments, LLC

$60,522

0.19%

10,189

RIVERNORTH CAPITAL MANAGEMENT, LLC

$60,522

0.19%

10,189

Integris Wealth Management, LLC

$57,302

0.18%

10,053

WINMILL & CO. INC

$13,365

0.04%

2,250

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Bexil Advisers LLC	2,250	$13,365	100.0%	Defined

JPMORGAN CHASE & CO

$10,234

0.03%

1,723

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
JPMorgan Chase Bank, N.A.	1,723	$10,234	100.0%	Defined

North Star Investment Management Corp.

$5,648

0.02%

951

Allied Private Wealth LLC

$3,676

0.01%

619

SECURITY NATIONAL BANK OF SO DAK

$1,241

0.00%

209

PNC FINANCIAL SERVICES GROUP, INC.

$95

0.00%

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
PNC Bank, National Association	16	$95	100.0%	Defined

Key facts CIK 813623 CUSIP 870875101 13F (30d) 5 filings 5 filers Visit website Investor relations