<SEC-DOCUMENT>0001752724-23-191883.txt : 20230825
<SEC-HEADER>0001752724-23-191883.hdr.sgml : 20230825
<ACCEPTANCE-DATETIME>20230825163339
ACCESSION NUMBER:		0001752724-23-191883
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230630
FILED AS OF DATE:		20230825
DATE AS OF CHANGE:		20230825
PERIOD START:           	20231231

FILER:

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

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05379
		FILM NUMBER:		231208865

	BUSINESS ADDRESS:	
		STREET 1:		C/O SPROTT ASSET MANAGEMENT L.P.
		STREET 2:		ROYAL BANK PLZ, SO. TOWER, STE 2700
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J2J1
		BUSINESS PHONE:		416-943-4065

	MAIL ADDRESS:	
		STREET 1:		C/O SPROTT ASSET MANAGEMENT L.P.
		STREET 2:		ROYAL BANK PLZ, SO. TOWER, STE 2700
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J2J1

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROYCE FOCUS TRUST INC
		DATE OF NAME CHANGE:	19990525

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
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          <cik>0000825202</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
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    <genInfo>
      <regName>SPROTT FOCUS TRUST INC.</regName>
      <regFileNumber>811-05379</regFileNumber>
      <regCik>0000825202</regCik>
      <regLei>549300ZO564XGNG81814</regLei>
      <regStreet1>C/O SPROTT ASSET MANAGEMENT L.P.</regStreet1>
      <regStreet2>ROYAL BANK PLZ, SO. TOWER, STE 2600</regStreet2>
      <regCity>TORONTO</regCity>
      <regCountry>CA</regCountry>
      <regZipOrPostalCode>0000M5J2J1</regZipOrPostalCode>
      <regPhone>203-656-2401</regPhone>
      <seriesName>SPROTT FOCUS TRUST INC.</seriesName>
      <seriesLei>549300ZO564XGNG81814</seriesLei>
      <repPdEnd>2023-12-31</repPdEnd>
      <repPdDate>2023-06-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>252922833.60</totAssets>
      <totLiabs>262626.41</totLiabs>
      <netAssets>252660207.19</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
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      <borrowers>
        <borrower aggrVal="137953.01000000" lei="FOR8UP27PHTHYVLBNG30" name="Goldman Sachs &amp; Co. LLC"/>
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      <aggregateCondition isNonCashCollateral="Y">
        <aggregateInfos>
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      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn rtn1="-1.85000000" rtn2="-6.36000000" rtn3="8.57000000"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="518277.47000000" netUnrealizedAppr="-6205520.90000000"/>
        <othMon2 netRealizedGain="1541902.21000000" netUnrealizedAppr="-18088163.77000000"/>
        <othMon3 netRealizedGain="-1128009.00000000" netUnrealizedAppr="20946684.48000000"/>
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      <mon1Flow redemption="996435.07000000" reinvestment="0.00000000" sales="0.00000000"/>
      <mon2Flow redemption="925645.05000000" reinvestment="0.00000000" sales="0.00000000"/>
      <mon3Flow redemption="490454.35000000" reinvestment="2281204.71000000" sales="0.00000000"/>


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        <name>Sims Ltd</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Fixed Income Clearing Corp</name>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <clearedCentCparty centralCounterparty="Fixed Income Clearing Corp" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>1.52000000</repurchaseRt>
          <maturityDt>2023-07-03</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>10673000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>10102333.42000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Pason Systems Inc</name>
        <lei>984500DC6T2FLR969F65</lei>
        <title>Pason Systems Inc</title>
        <cusip>702925108</cusip>
        <identifiers>
          <isin value="CA7029251088"/>
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        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32475000"/>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Artisan Partners Asset Management Inc</name>
        <lei>549300T1FUI6JF63XU51</lei>
        <title>Artisan Partners Asset Management Inc</title>
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          <isin value="US04316A1088"/>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>State Street Global Advisors</name>
        <lei>5493008BJIBKQ5KTIF74</lei>
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          <isin value="US8574927062"/>
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        <valUSD>7500.00000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="7500.00000000" isCashCollateral="Y"/>
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        <name>Cirrus Logic Inc</name>
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        <name>Agnico Eagle Mines Ltd</name>
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        <name>Westlake Corp</name>
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        <name>Kennedy-Wilson Holdings Inc</name>
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        <name>Centamin PLC</name>
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        <name>Barrick Gold Corp</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>Helmerich &amp; Payne Inc</name>
        <lei>254900NAOGHJ88RZ4C73</lei>
        <title>Helmerich &amp; Payne Inc</title>
        <cusip>423452101</cusip>
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          <isin value="US4234521015"/>
        </identifiers>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Exxon Mobil Corp</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp</title>
        <cusip>30231G102</cusip>
        <identifiers>
          <isin value="US30231G1022"/>
        </identifiers>
        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9116250.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Steel Dynamics Inc</name>
        <lei>549300HGGKEL4FYTTQ83</lei>
        <title>Steel Dynamics Inc</title>
        <cusip>858119100</cusip>
        <identifiers>
          <isin value="US8581191009"/>
        </identifiers>
        <balance>105000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11437650.00000000</valUSD>
        <pctVal>4.526890137234</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AerSale Corp</name>
        <lei>N/A</lei>
        <title>AerSale Corp</title>
        <cusip>00810F106</cusip>
        <identifiers>
          <isin value="US00810F1066"/>
        </identifiers>
        <balance>475000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6982500.00000000</valUSD>
        <pctVal>2.763593079281</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Berkshire Hathaway Inc</name>
        <lei>5493000C01ZX7D35SD85</lei>
        <title>Berkshire Hathaway Inc</title>
        <cusip>084670702</cusip>
        <identifiers>
          <isin value="US0846707026"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10230000.00000000</valUSD>
        <pctVal>4.048916176304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vishay Intertechnology Inc</name>
        <lei>5493009O8F3QQJTCQR75</lei>
        <title>Vishay Intertechnology Inc</title>
        <cusip>928298108</cusip>
        <identifiers>
          <isin value="US9282981086"/>
        </identifiers>
        <balance>420000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12348000.00000000</valUSD>
        <pctVal>4.887196182307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Seabridge Gold Inc</name>
        <lei>9845003FEO1A66376A92</lei>
        <title>Seabridge Gold Inc</title>
        <cusip>811916105</cusip>
        <identifiers>
          <isin value="CA8119161054"/>
        </identifiers>
        <balance>360000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4338000.00000000</valUSD>
        <pctVal>1.716930437224</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Major Drilling Group International Inc</name>
        <lei>549300O1MNHCX2FUBC21</lei>
        <title>Major Drilling Group International Inc</title>
        <cusip>560909103</cusip>
        <identifiers>
          <isin value="CA5609091031"/>
        </identifiers>
        <balance>1120000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32475000"/>
        <valUSD>7727344.78000000</valUSD>
        <pctVal>3.058394064479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FRP Holdings Inc</name>
        <lei>N/A</lei>
        <title>FRP Holdings Inc</title>
        <cusip>30292L107</cusip>
        <identifiers>
          <isin value="US30292L1070"/>
        </identifiers>
        <balance>125000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7196250.00000000</valUSD>
        <pctVal>2.848192867422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cal-Maine Foods Inc</name>
        <lei>549300NHE5WMIEIEMF53</lei>
        <title>Cal-Maine Foods Inc</title>
        <cusip>128030202</cusip>
        <identifiers>
          <isin value="US1280302027"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9000000.00000000</valUSD>
        <pctVal>3.562096342789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federated Hermes Inc</name>
        <lei>R05X5UQ874RGFF7HHD84</lei>
        <title>Federated Hermes Inc</title>
        <cusip>314211103</cusip>
        <identifiers>
          <isin value="US3142111034"/>
        </identifiers>
        <balance>285000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10217250.00000000</valUSD>
        <pctVal>4.043869873152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Value Partners Group Ltd</name>
        <lei>549300RYVTCSHFKXHB81</lei>
        <title>Value Partners Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG931751005"/>
        </identifiers>
        <balance>7500000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83600000"/>
        <valUSD>2364088.82000000</valUSD>
        <pctVal>0.935679126639</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CF Industries Holdings Inc</name>
        <lei>529900CG8YAQFZ2JMV97</lei>
        <title>CF Industries Holdings Inc</title>
        <cusip>125269100</cusip>
        <identifiers>
          <isin value="US1252691001"/>
        </identifiers>
        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1735500.00000000</valUSD>
        <pctVal>0.686890911434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Clarkson PLC</name>
        <lei>2138007G6BGTEHI3OT22</lei>
        <title>Clarkson PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002018363"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78740200"/>
        <valUSD>3759197.97000000</valUSD>
        <pctVal>1.487847260084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pan American Silver Corp</name>
        <lei>549300MKTF5851TYIB83</lei>
        <title>Pan American Silver Corp</title>
        <cusip>697900108</cusip>
        <identifiers>
          <isin value="CA6979001089"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2916000.00000000</valUSD>
        <pctVal>1.154119215063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ashmore Group PLC</name>
        <lei>549300U3L59WB4YI2X12</lei>
        <title>Ashmore Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B132NW22"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78740200"/>
        <valUSD>3962397.86000000</valUSD>
        <pctVal>1.568271436198</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Thor Industries Inc</name>
        <lei>254900XZO1228PDSG060</lei>
        <title>Thor Industries Inc</title>
        <cusip>885160101</cusip>
        <identifiers>
          <isin value="US8851601018"/>
        </identifiers>
        <balance>75000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7762500.00000000</valUSD>
        <pctVal>3.072308095656</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="7706250.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Smart Sand Inc</name>
        <lei>549300JISW1T66DVOK23</lei>
        <title>Smart Sand Inc</title>
        <cusip>83191H107</cusip>
        <identifiers>
          <isin value="US83191H1077"/>
        </identifiers>
        <balance>750000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1230000.00000000</valUSD>
        <pctVal>0.486819833514</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Schnitzer Steel Industries Inc</name>
        <lei>549300F62TK8VRDSM285</lei>
        <title>Schnitzer Steel Industries Inc</title>
        <cusip>806882106</cusip>
        <identifiers>
          <isin value="US8068821060"/>
        </identifiers>
        <balance>305000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9146950.00000000</valUSD>
        <pctVal>3.620257460297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DDH1 Ltd</name>
        <lei>N/A</lei>
        <title>DDH1 Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000134454"/>
        </identifiers>
        <balance>13000000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.50116300"/>
        <valUSD>7231060.18000000</valUSD>
        <pctVal>2.861970335741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Reliance Steel &amp; Aluminum Co</name>
        <lei>549300E287ZOFT3C5Z56</lei>
        <title>Reliance Steel &amp; Aluminum Co</title>
        <cusip>759509102</cusip>
        <identifiers>
          <isin value="US7595091023"/>
        </identifiers>
        <balance>46000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12493140.00000000</valUSD>
        <pctVal>4.944640922662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2023-07-17</ncom:dateSigned>
      <ncom:nameOfApplicant>SPROTT FOCUS TRUST INC.</ncom:nameOfApplicant>
      <ncom:signature>Thomas Ulrich</ncom:signature>
      <ncom:signerName>Thomas Ulrich</ncom:signerName>
      <ncom:title>President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
