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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001117768-03-000044.txt : 20030616
<SEC-HEADER>0001117768-03-000044.hdr.sgml : 20030616
<ACCEPTANCE-DATETIME>20030616093654
ACCESSION NUMBER:		0001117768-03-000044
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20030616
GROUP MEMBERS:		LEONARD SAMUELS

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SHAKER RICHARD J
		CENTRAL INDEX KEY:			0001241300

	FILING VALUES:
		FORM TYPE:		SC 13G

	MAIL ADDRESS:	
		STREET 1:		1094 MAGOTHY CIRCLE
		CITY:			ANNAPOLIS
		STATE:			MD
		ZIP:			21401

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ROYCE FOCUS TRUST INC
		CENTRAL INDEX KEY:			0000825202
		IRS NUMBER:				592876580
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-45788
		FILM NUMBER:		03744626

	BUSINESS ADDRESS:	
		STREET 1:		1414 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2125084578

	MAIL ADDRESS:	
		STREET 1:		C/O QUEST ADVISORY CORP
		STREET 2:		1414 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROYCE GLOBAL TRUST INC
		DATE OF NAME CHANGE:	19961203

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALL SEASONS GLOBAL FUND INC
		DATE OF NAME CHANGE:	19950803

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAS ALL SEASON FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>shakerg.htm
<DESCRIPTION>SCHEDULE 13G
<TEXT>
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<TITLE>SEC 1746 (03-00)</TITLE>
<META NAME="_AdHocReviewCycleID" CONTENT="-866213390">
<META NAME="_EmailSubject" CONTENT="13G filing">
<META NAME="_AuthorEmail" CONTENT="sfs@ix.netcom.com">
<META NAME="_AuthorEmailDisplayName" CONTENT="Richard J Shaker">
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<FONT FACE="Swiss.721.BT083.313" SIZE=2><P ALIGN="RIGHT">OMB APPROVAL<BR>
</FONT><FONT FACE="Swiss.721.BT075" SIZE=1>OMB Number: 3235-0145<BR>
Expires: December 31, 2005<BR>
estimated average burden<BR>
hours per response. . . . .11<BR>
</P>
</FONT><B><FONT FACE="Times.New.Roman.Bold083.313" SIZE=2>
<P ALIGN="CENTER">UNITED STATES</P>
<P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</P>
<P ALIGN="CENTER">Washington, D.C. 20549</P>
<P ALIGN="CENTER"></P>
</FONT><FONT FACE="Swiss.721.Bold.BT0116.625" SIZE=4><P ALIGN="CENTER">SCHEDULE 13G</P>
<P ALIGN="CENTER"></P>
</FONT><FONT FACE="Times.New.Roman.Bold083.313" SIZE=2><P ALIGN="CENTER">Under the Securities Exchange Act of 1934</P>
<P ALIGN="CENTER"></P>
</B></FONT><FONT FACE="Times.New.Roman083.313" SIZE=2><P ALIGN="CENTER">ROYCE FOCUS TRUST INC.</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">Common Stock, par value $0.01 per share</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">CUSIP Number 78080N 10 8</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">Richard J. Shaker<BR>
D.B.A. Shaker Financial Services<BR>
1094 Magothy Circle<BR>
Annapolis, Maryland  21401</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">May 30, 2003<BR>
(Date of Event Which Requires Filing of this Statement)</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="JUSTIFY">Check the appropriate box to designate the rule pursuant to which this Schedule is filed:</P>
<P ALIGN="JUSTIFY"></P>
<P>{&nbsp;x&nbsp;}&#9;Rule 13d-1(b)<BR>
{&nbsp;&nbsp;&nbsp;}&#9;Rule 13d-1(c)<BR>
{&nbsp;&nbsp;&nbsp;}&#9;Rule 13d-1(d)</P>

<P>CUSIP No.:&#9;The purchasers are individuals with accounts managed by Richard J. Shaker, so have no CUSIP numbers.</P>

<P>1.&#9;Names of Reporting Persons.</P>
<P>I.R.S. Identification Nos. of above persons (entities only).</P>

<P>&#9;Richard J. Shaker, DBA Shaker Financial Services<BR>
&#9;IRS TIN 51-0434319</P>

<P>2.&#9;Check the Appropriate Box if a Member of a Group (See Instructions)</P>

<P>(a)&#9;(Not Applicable)...<BR>
(b)&#9;(Not Applicable)...</P>

<P>3.&#9;SEC Use Only </P>

<P>4.&#9;Citizenship or Place of Organization </P>

<P>Richard J. Shaker is a U.S. citizen.</P>
</FONT>
<TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=590>
<TR><TD WIDTH="21%" VALIGN="TOP">
<FONT FACE="Times.New.Roman083.313" SIZE=2><P>Number of shares Beneficially by Owned by Each Reporting Person with:</FONT></TD>
<TD WIDTH="79%" VALIGN="TOP">
<FONT FACE="Times.New.Roman083.313" SIZE=2><P>5.&#9;Sole Voting Power:&#9;&#9;904,669<BR>
6.&#9;Shared Voting Power:&#9;&#9;0<BR>
7.&#9;Sole Dispositive Power:&#9;904,669<BR>
8.&#9;Shared Dispositive Power:&#9;0</FONT></TD>
</TR>
</TABLE>

<FONT FACE="Times.New.Roman083.313" SIZE=2>
<P>9.&#9;Aggregate Amount Beneficially Owned by Each Reporting Person.</P>

<P ALIGN="JUSTIFY">Accounts managed by Richard J. Shaker, doing business as Shaker Financial Services, own 904,669 shares, 9.8% of the outstanding shares of the company.   No additional shares are beneficially owned by Mr. Shaker, his relatives, or, to his knowledge, by any of his clients.</P>

<P>10.&#9;Check if the Aggregate Amount in Row (9) Excludes Certain Shares  (Not Applicable)</P>

<P>11.&#9;Percent of Class Represented by Amount in Row (9):  9.8%</P>

<P>12.&#9;Type of Reporting Person  IA</P>

</FONT><B><FONT FACE="Times.New.Roman.Bold083.313" SIZE=2><P>Item 1.</P>

<P>&#9;</B>(a)&#9;Name of Issuer:</P>

<P>&#9;&#9;Royce Focus Trust, Inc.</P>

<P>&#9;(b)&#9;Address of Issuer's Principal Executive Office:</P>

<P>&#9;&#9;1414 Avenue of the Americas<BR>
&#9;&#9;New York, New York  10019</P>
<B>
<P>Item 2.</P>

<P>&#9;</B>(a)&#9;Name of Person Filing:</P>

<P>&#9;&#9;Richard J. Shaker, DBA Shaker Financial Services</P>

<P>&#9;(b)&#9;Address of Person Filing:</P>

<P>&#9;&#9;1094 Magothy Circle<BR>
&#9;&#9;Annapolis, MD  21401</P>

<P>&#9;(c)&#9;Citizenship:</P>

<P>&#9;&#9;Richard J. Shaker is a U. S. citizen</P>

<P>&#9;(d)&#9;Title of Class of Securities:</P>

<P>&#9;&#9;Common Stock</P>

<P>&#9;(e)&#9;CUSIP Number:</P>

<P>&#9;&#9;78080N 10 8</P>
</FONT><FONT FACE="Times.New.Roman083.313" SIZE=2><DIR>
<DIR>
<DIR>

</FONT><B><FONT FACE="Times.New.Roman.Bold083.313" SIZE=2><P>Item 3.&#9;If this state is filed pursuant to 240.13d-1(b) or 24013d-2(b) or (c), check whether the person filing is a:</P>
</B></FONT><FONT FACE="Times.New.Roman083.313" SIZE=2></DIR>
</DIR>
</DIR>

<P>&#9;(e)&#9;[x]&#9;person registered as an investment advisor under Section 203 of the Investment Advisers Act of 1940 or under the laws of any state</P>

</FONT><B><FONT FACE="Times.New.Roman.Bold083.313" SIZE=2><P>Item 4.&#9;Ownership.</P>

<P>&#9;</B>(a)&#9;Amount beneficially owned:  Accounts managed by Richard J. Shaker, doing business as Richard J. Shaker, own 904,669 shares.</P>

<P>&#9;(b)&#9;Percent of Class:   9.8%</P>

<P>&#9;(c)  Number of Shares as to which such person has:</P>

<P>&#9;&#9;(i)  sole power to vote or to direct the vote:  904,669</P>

<P>&#9;&#9;(ii)  shared power to vote or to direct the vote:  0</P>

<P>&#9;&#9;(iii)  sole power to dispose or to direct the disposition of:  904,669</P>

<P>&#9;&#9;(iv)  shared power to dispose or to direct the disposition of:  0</P>
</FONT><FONT FACE="Times.New.Roman083.313" SIZE=2>
</FONT><B><FONT FACE="Times.New.Roman.Bold083.313" SIZE=2><P>Item 5.&#9;Ownership of Five Percent of Less of a Class   </B>(Not Applicable)</P>
</FONT><FONT FACE="Times.New.Roman083.313" SIZE=2>
</FONT><B><FONT FACE="Times.New.Roman.Bold083.313" SIZE=2><P>Item 6.&#9;Owners of More than Five Percent on Behalf of Another Person.   </B>(Not Applicable)</P>
</FONT><FONT FACE="Times.New.Roman083.313" SIZE=2><DIR>
<DIR>
<DIR>

</FONT><B><FONT FACE="Times.New.Roman.Bold083.313" SIZE=2><P>Item 7.&#9;Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company.     </B>(Not Applicable<B>)</P>
</B></FONT><FONT FACE="Times.New.Roman083.313" SIZE=2></DIR>
</DIR>
</DIR>

</FONT><B><FONT FACE="Times.New.Roman.Bold083.313" SIZE=2><P>Item 8.&#9;Identification and Classification of Members of the Group.  </B>(Not Applicable<B>)</P>
</B></FONT><FONT FACE="Times.New.Roman083.313" SIZE=2>
</FONT><B><FONT FACE="Times.New.Roman.Bold083.313" SIZE=2><P>Item 9.&#9;Notice of Dissolution of Group.   </B>(Not Applicable<B>)</P>
</B></FONT><FONT FACE="Times.New.Roman083.313" SIZE=2>
</FONT><B><FONT FACE="Times.New.Roman.Bold083.313" SIZE=2><P>Item 10.&#9;Certification.  </P>

<P>&#9;</B>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transactions having such purpose or effect.</P>
</FONT><FONT FACE="Times.New.Roman083.313" SIZE=2>
</FONT><B><I><FONT FACE="Times.New.Roman.Italic083.313"><P ALIGN="CENTER">Signature</P>
</B></I></FONT><FONT FACE="Times.New.Roman083.313" SIZE=2>
<P>After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</P>
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<P>Date:  June 2, 2003</P>

<P>By: /s/ Richard J. Shaker<BR>
Richard J. Shaker, Principal<BR>
Shaker Financial Services</P>
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