What are payments made to a fund's shareholders that result from the sales of securities in the fund's portfolio?

The correct answer is capital gains distributions. These payments occur when a fund sells securities in its portfolio for a profit and then distributes that profit to its shareholders. In the context of mutual funds or investment funds, when the fund manager sells an asset at a higher price than its purchase price, the difference is termed a capital gain.

When these gains are realized, the fund is required by tax regulations to distribute a portion of them to the shareholders, as they are ultimately the beneficiaries of the profits that the fund has generated. This is important for investors to understand, as these distributions can affect their taxable income, depending on their individual tax situation.

In contrast, other options refer to different scenarios. Capital losses distributions would imply a return from losses, which is not applicable in this case of profit distribution. Shareholder loss distributions and shareholder gains distributions do not accurately reflect the terminology or process used in fund accounting and taxation. Thus, capital gains distributions is the specific term used for these payments from realized profits.