Vault-13

VIRTUS TOTAL RETURN FD INC ZTR

COM · Closed-End Fund · CUSIP 92835W107

89 institutional holders -1 vs Q1 2025
15,279,95515.3m shares reported held*
$95.2mreported value*
8 new 31 added 22 reduced 11 sold out net bought ≈ $3.2m (+509.5k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $6.23.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 72Q4 22: 73Q1 23: 78Q2 23: 74Q3 23: 85Q4 23: 88Q1 24: 83Q2 24: 80Q3 24: 81Q4 24: 93Q1 25: 90Q2 25: 8989Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202272
Q4 202273
Q1 202378
Q2 202374
Q3 202385
Q4 202388
Q1 202483
Q2 202480
Q3 202481
Q4 202493
Q1 202590
Q2 202589

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
50050Q3 23: 49 bought or addedQ3 23: 22 cut or sold outQ4 23: 44 bought or addedQ4 23: 32 cut or sold outQ4 23Q1 24: 36 bought or addedQ1 24: 38 cut or sold outQ2 24: 30 bought or addedQ2 24: 45 cut or sold outQ2 24Q3 24: 33 bought or addedQ3 24: 39 cut or sold outQ4 24: 40 bought or addedQ4 24: 32 cut or sold outQ4 24Q1 25: 34 bought or addedQ1 25: 50 cut or sold outQ2 25: 39 bought or addedQ2 25: 33 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20234922
Q4 20234432
Q1 20243638
Q2 20243045
Q3 20243339
Q4 20244032
Q1 20253450
Q2 20253933

Biggest buyers

LPL Financial LLC Added +217,388+217.4k
WOLVERINE ASSET MANAGEMENT LLC Added +148,688+148.7k
Private Advisor Group, LLC Added +141,905+141.9k
Bulldog Investors, LLP Added +117,303+117.3k
ASHTON THOMAS SECURITIES, LLC New +104,500+104.5k
BANK OF AMERICA CORP /DE/ Added +85,767+85.8k
North Ground Capital Added +55,500+55.5k
STIFEL FINANCIAL CORP Added +53,660+53.7k
ROYAL BANK OF CANADA Added +47,784+47.8k
Saba Capital Management, L.P. New +47,645+47.6k

Biggest sellers

ABSOLUTE INVESTMENT ADVISERS, LLC Reduced -222,394-222.4k
SIT INVESTMENT ASSOCIATES INC Sold out -147,521-147.5k
MANGROVE PARTNERS IM, LLC Reduced -109,491-109.5k
AQR Arbitrage LLC Sold out -87,830-87.8k
LANDSCAPE CAPITAL MANAGEMENT, L.L.C. Sold out -36,774-36.8k
J.W. COLE ADVISORS, INC. Reduced -35,246-35.2k
MILLENNIUM MANAGEMENT LLC Reduced -35,048-35.0k
MORGAN STANLEY Reduced -34,873-34.9k
Karpus Management, Inc. Reduced -34,761-34.8k
Quarry LP Reduced -33,755-33.8k

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Saba Capital Management, L.P. 13D · may seek influence new · filed 2026-09-30
Stated purposeThe Reporting Persons acquired the Common Shares to which this Schedule 13D relates in the ordinary course of business for investment purposes because they believe that the Common Shares are undervalued and represent an attractive investment opportunity. The Reporting Persons may engage in discussions with management, the Board of Directors (the "Board"), other shareholders of the Issuer and other relevant parties, including representatives of any of the foregoing, concerning the Reporting Persons' investment in the Common Shares and the Issuer, including, without limitation, matters concerning the Issuer's business, operations, board appointments, governance, performance, management, capitalization, trading of the Common Shares at a discount to the Issuer's net asset value and strategic p… Full filing
 5.0% new 2.5m≈ $17.2m 2026-09-30

Insider purchases and sales in Q2 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
101Q3 23: 1 buyingQ3 23: 0 sellingQ4 23: 0 buyingQ4 23: 0 sellingQ4 23Q1 24: 0 buyingQ1 24: 0 sellingQ2 24: 1 buyingQ2 24: 0 sellingQ2 24Q3 24: 0 buyingQ3 24: 0 sellingQ4 24: 0 buyingQ4 24: 0 sellingQ4 24Q1 25: 0 buyingQ1 25: 0 sellingQ2 25: 0 buyingQ2 25: 0 sellingQ2 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q3 20231$11.8k0——
Q4 20230—0——
Q1 20240—0——
Q2 20241$27.4k0——
Q3 20240—0——
Q4 20240—0——
Q1 20250—0——
Q2 20250—0——

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,439,7081.4m $9.0m $9.0m 0.00% Reduced -34.9k -34,873
2 ABSOLUTE INVESTMENT ADVISERS, LLC 0.97% of their portfolio ROSEMARY BEACH, FL 1,255,1601.3m $7.8m $7.8m 0.97% Reduced -222.4k -222,394
3 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 1,244,7501.2m $7.8m $7.8m 0.00% Added +217.4k +217,388
4 Karpus Management, Inc. 0.23% of their portfolio Pittsford, NY 1,123,9481.1m $7.0m $7.0m 0.23% Reduced -34.8k -34,761
5 GUGGENHEIM CAPITAL LLC 0.06% of their portfolio CHICAGO, IL 1,101,5501.1m $6.9m $6.9m 0.06% Added +33.8k +33,822
6 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 917,982918.0k $5.7m $5.7m 0.01% Added +53.7k +53,660
7 Penserra Capital Management LLC 0.07% of their portfolio ORINDA, CA 794,894794.9k $5.0m $5.0m 0.07% Added +23.5k +23,490
8 Yakira Capital Management, Inc. 1.56% of their portfolio Westport, CT 679,184679.2k $4.2m $4.2m 1.56% Unchanged
9 CAPSTONE INVESTMENT ADVISORS, LLC 0.03% of their portfolio NEW YORK, NY 590,007590.0k $3.7m $3.7m 0.03% Unchanged
10 Quarry LP 0.84% of their portfolio NEW YORK, NY 585,069585.1k $3.6m $3.6m 0.84% Reduced -33.8k -33,755
11 North Ground Capital 4.28% of their portfolio Cohasset, MA 540,500540.5k $3.4m $3.4m 4.28% Added +55.5k +55,500
12 WOLVERINE ASSET MANAGEMENT LLC 0.05% of their portfolio CHICAGO, IL 462,962463.0k $2.9m $2.9m 0.05% Added +148.7k +148,688
13 MANGROVE PARTNERS IM, LLC 0.29% of their portfolio Greenwich, CT 439,494439.5k $2.7m $2.7m 0.29% Reduced -109.5k -109,491
14 Sculptor Capital LP 0.03% of their portfolio New York, NY 346,864346.9k $2.2m $2.2m 0.03% Added +30.8k +30,833
15 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 338,441338.4k $2.1m $2.1m 0.00% Added +85.8k +85,767
16 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 263,339263.3k $1.6m $1.6m 0.01% Added +141.9k +141,905
17 Bulldog Investors, LLP 0.41% of their portfolio SADDLE BROOK, NJ 257,181257.2k $1.6m $1.6m 0.41% Added +117.3k +117,303
18 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 252,657252.7k $1.6m $1.6m 0.00% Reduced -6.2k -6,231
19 CSS LLC/IL 0.10% of their portfolio CHICAGO, IL 251,963252.0k $1.6m $1.6m 0.10% Added +23.3k +23,307
20 PARK AVENUE SECURITIES LLC 0.01% of their portfolio NEW YORK, NY 226,703226.7k $1.4m $1.4m 0.01% Reduced -7.8k -7,761
21 Shaker Financial Services, LLC 0.38% of their portfolio Arlington, VA 169,755169.8k $1.1m $1.1m 0.38% Added +22.1k +22,132
22 READYSTATE ASSET MANAGEMENT LP 0.04% of their portfolio CHICAGO, IL 160,918160.9k $1.0m $1.0m 0.04% Added +30.8k +30,810
23 STEPHENS INC /AR/ 0.01% of their portfolio LITTLE ROCK, AR 158,294158.3k $986.2k $986.2k 0.01% Added +34.6k +34,591
24 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 137,820137.8k $858.6k $858.6k 0.00% Reduced -3.7k -3,675
25 J.W. COLE ADVISORS, INC. 0.02% of their portfolio TAMPA, FL 134,815134.8k $839.9k $839.9k 0.02% Reduced -35.2k -35,246
26 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 115,974116.0k $722.5k $722.5k 0.00% Reduced -2.3k -2,304
27 ASHTON THOMAS SECURITIES, LLC 0.16% of their portfolio ROCHESTER, NY 104,500104.5k $651.0k $651.0k 0.16% New
28 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 93,75893.8k $584.0k $584.0k 0.00% Added +47.8k +47,784
29 Walleye Capital LLC 0.00% of their portfolio NEW YORK, NY 73,61873.6k $458.6k $458.6k 0.00% Added +33.8k +33,844
30 Almitas Capital LLC 0.11% of their portfolio SANTA MONICA, CA 72,01972.0k $448.7k $448.7k 0.11% Added +27.0k +27,025
31 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 71,28271.3k $444.1k $444.1k 0.00% Added +30.5k +30,517
32 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 65,79865.8k $409.9k $409.9k 0.00% Added +39.6k +39,567
33 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.05% of their portfolio BLUE BELL, PA 52,52152.5k $327.2k $327.2k 0.05% Added +2.9k +2,900
34 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 50,45150.5k $314.3k $314.3k 0.00% Reduced -6.4k -6,371
35 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 49,85849.9k $311.0k $311.0k 0.00% Added +1.8k +1,784
36 Beverly Hills Private Wealth, LLC 0.06% of their portfolio BEVERLY HILLS, CA 47,90447.9k $298.4k $298.4k 0.06% Added +966 +966
37 Saba Capital Management, L.P. 0.01% of their portfolio NEW YORK, NY 47,64547.6k $296.8k $296.8k 0.01% New
38 INTEGRATED CAPITAL MANAGEMENT, INC. 0.21% of their portfolio JESSUP, PA 45,28845.3k $282.1k $282.1k 0.21% Added +285 +285
39 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 32,14032.1k $200.2k $200.2k 0.00% Added +22.0k +21,960
40 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 30,83930.8k $192.1k $192.1k 0.00% Reduced -28.0k -27,980
41 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 30,58930.6k $190.6k $190.6k 0.00% Reduced -1.6k -1,571
42 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 29,97930.0k $186.8k $186.8k 0.00% New
43 Dakota Wealth Management 0.00% of their portfolio PALM BEACH GARDENS, FL 28,33928.3k $176.6k $176.6k 0.00% Unchanged
44 Stratos Wealth Advisors, LLC 0.01% of their portfolio BEACHWOOD, OH 23,61123.6k $147.1k $147.1k 0.01% Added +574 +574
45 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 22,18422.2k $138.2k $138.2k 0.00% Reduced -2.2k -2,182
46 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 21,70821.7k $135.0k $135.0k 0.00% Added +1.6k +1,593
47 Tactive Advisors, LLC 0.04% of their portfolio Jacksonville, FL 21,01821.0k $130.9k $130.9k 0.04% First filing
48 NOMURA HOLDINGS INC 0.00% of their portfolio TOKYO, M0 20,32220.3k $126.6k $126.6k 0.00% Unchanged
49 Shulman DeMeo Asset Management LLC 0.03% of their portfolio LAKE SUCCESS, NY 19,00119.0k $118.4k $118.4k 0.03% Reduced -56 -56
50 Gridiron Partners, LLC 0.07% of their portfolio Wexford, PA 18,68318.7k $116.4k $116.4k 0.07% Reduced -1.4k -1,356
51 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 18,03418.0k $112.0k $112.0k 0.00% Added +322 +322
52 Ameritas Advisory Services, LLC 0.01% of their portfolio Lincoln, NE 17,56017.6k $109.4k $109.4k 0.01% Reduced -481 -481
53 AlphaStar Capital Management, LLC 0.01% of their portfolio CORNELIUS, NC 17,40217.4k $108.4k $108.4k 0.01% Unchanged
54 WEDBUSH SECURITIES INC 0.00% of their portfolio PASADENA, CA 17,17617.2k $107.0k $107.0k 0.00% New
55 Pasadena Private Wealth, LLC 0.02% of their portfolio PASADENA, CA 14,42814.4k $89.9k $89.9k 0.02% Unchanged
56 Mariner, LLC 0.00% of their portfolio Overland Park, KS 14,09414.1k $87.8k $87.8k 0.00% Added +3.0k +3,043
57 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 13,71513.7k $85.4k $85.4k 0.00% Unchanged
58 DOLIVER ADVISORS, LP 0.02% of their portfolio HOUSTON, TX 12,26712.3k $76.4k $76.4k 0.02% Unchanged
59 Concurrent Investment Advisors, LLC 0.00% of their portfolio Tampa, FL 12,09212.1k $75.3k $75.3k 0.00% Added +1.9k +1,900
60 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 11,95412.0k $74.5k $74.5k 0.00% Reduced -35.0k -35,048
61 Mascoma Wealth Management LLC 0.02% of their portfolio HANOVER, NH 11,90011.9k $74.1k $74.1k 0.02% Unchanged
62 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 11,09911.1k $69.0k $69.0k 0.00% Reduced -1.1k -1,089
63 CIBC Private Wealth Group LLC 0.00% of their portfolio ATLANTA, GA 8,3158.3k $51.8k $51.8k 0.00% Unchanged
64 UBS Group AG 0.00% of their portfolio ZURICH, V8 8,2818.3k $51.6k $51.6k 0.00% Reduced -4.6k -4,578
65 Towne Trust Company, N.A 0.01% of their portfolio NEWPORT NEWS, VA 8,0008.0k $49.8k $49.8k 0.01% Unchanged
66 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 4,4404.4k $27.0k $27.0k 0.00% Added +24 +24
67 Colonial Trust Advisors 0.00% of their portfolio SPARTANBURG, SC 3,6253.6k $22.6k $22.6k 0.00% New
68 Geneos Wealth Management Inc. 0.00% of their portfolio ENGLEWOOD, CO 2,7702.8k $17.3k $17.3k 0.00% Reduced -1.1k -1,145
69 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 2,2432.2k $14.0k $14.0k 0.00% Unchanged
70 MorganRosel Wealth Management, LLC 0.00% of their portfolio HIGHLANDS RANCH, CO 1,0121.0k $6.3k $6.3k 0.00% New
71 NFSG Corp 0.00% of their portfolio BOCA RATON, FL 1,0001.0k $6.2k $6.2k 0.00% New
72 Sound Income Strategies, LLC 0.00% of their portfolio FT LAUDERDALE, FL 945945 $5.9k $5.9k 0.00% Unchanged
73 Aventura Private Wealth, LLC 0.00% of their portfolio AVENTURA, FL 902902 $5.6k $5.6k 0.00% Unchanged
74 CWM, LLC 0.00% of their portfolio OMAHA, NE 771771 $5.0k $5.0k 0.00% Unchanged
75 Thomas J. Herzfeld Advisors, Inc. 0.00% of their portfolio MIAMI BEACH, FL 676676 $4.2k $4.2k 0.00% Added +16 +16
76 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 450450 $2.8k $2.8k 0.00% Unchanged
77 Hilltop National Bank 0.00% of their portfolio CASPER, WY 445445 $2.8k $2.8k 0.00% First filing
78 Glen Eagle Advisors, LLC 0.00% of their portfolio KINGSTON, NJ 406406 $2.5k $2.5k 0.00% Unchanged
79 Physician Wealth Advisors, Inc. 0.00% of their portfolio MIDVALE, UT 222222 $1.4k $1.4k 0.00% Unchanged
80 SJS Investment Consulting Inc. 0.00% of their portfolio SYLVANIA, OH 154154 $960 $960 0.00% Unchanged
81 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 145145 $903 $903 0.00% Unchanged
82 MTM Investment Management, LLC 0.00% of their portfolio SPARTANBURG, SC 124124 $773 $773 0.00% New
83 CHELSEA COUNSEL CO 0.00% of their portfolio Woodland Hills, CA 103103 $642 $642 0.00% Unchanged
84 Ancora Advisors LLC 0.00% of their portfolio Cleveland, OH 7878 $486 $486 0.00% Unchanged
85 Key Financial Inc 0.00% of their portfolio WEST CHESTER, PA 7171 $439 $439 0.00% Unchanged
86 JNBA Financial Advisors 0.00% of their portfolio BLOOMINGTON, MN 6060 $374 $374 0.00% Unchanged
87 FMR LLC 0.00% of their portfolio BOSTON, MA 88 $50 $50 0.00% Reduced -20 -20
88 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 11 $6 $6 0.00% Unchanged
89 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged