# EDGAR Filing Document

**Accession Number:** 0000825202
**File Stem:** 0001752724-23-044042
**Filing Date:** 2023-2
**Character Count:** 16863
**Document Hash:** ab3f7738b18f0ea4d37b59c5bdeb13f1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-044042.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-044042

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**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:** 23678764

**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

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** SPROTT FOCUS TRUST INC.

- **b. Investment Company Act file number:** 811-05379

- **c. CIK number of Registrant:** 0000825202

- **d. LEI of Registrant:** 549300ZO564XGNG81814

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** C/O SPROTT ASSET MANAGEMENT L.P.

  - **City:** TORONTO

  - **Zip / Postal Code:** 0000M5J2J1

  - **Telephone number:** 203-656-2401

**Item A.2. Information about the Series.**

- **a. Name of Series:** SPROTT FOCUS TRUST INC.

- **c. LEI of Series:** 549300ZO564XGNG81814

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $255876154.72

**Total Liabilities:** $1681941.71

**Net Assets:** $254194213.01

**Cash Not Reported:** $380030.11

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 11.52%               | 8.14%                | -3.08%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1637597.69              | $23304815.59                               |
| Month 2  | $133964.74               | $19314088.52                               |
| Month 3  | $1719446.12              | $-10292574.76                              |

### Schedule of Portfolio Investments

| Name                                   | Title                                                                       | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Fixed Income Clearing Corp             | FIXED INC CLEARING CORP.REPO                                                | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   7500890 | PA      | $7500890.31   | 2.95%             |  |  |  | No            | 2                  | On Loan: No      |
| Sims Ltd                               | Sims Ltd                                                                    | CUSIP: 000000000<br>LEI: 5493002YM7ZHVDMFC916 | Long             | EC               | CORP              | AU        |     13500 | NS      | $120316.43    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Pason Systems Inc                      | Pason Systems Inc                                                           | CUSIP: 702925108<br>LEI: 984500DC6T2FLR969F65 | Long             | EC               | CORP              | CA        |    980000 | NS      | $11537075.33  | 4.54%             |  |  |  | No            | 1                  | On Loan: —       |
| Artisan Partners Asset Management Inc  | Artisan Partners Asset Management Inc                                       | CUSIP: 04316A108<br>LEI: 549300T1FUI6JF63XU51 | Long             | EC               | CORP              | US        |    305000 | NS      | $9058500.00   | 3.56%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Global Advisors           | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: 857492706<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |    840210 | NS      | $840210.00    | 0.33%             |  |  |  | No            | N/A                | On Loan: No      |
| Cirrus Logic Inc                       | Cirrus Logic Inc                                                            | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |     45000 | NS      | $3351600.00   | 1.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Agnico Eagle Mines Ltd                 | Agnico Eagle Mines Ltd                                                      | CUSIP: 008474108<br>LEI: YGE0EUBRF7IJOB3QRX76 | Long             | EC               | CORP              | CA        |    160000 | NS      | $8318400.00   | 3.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Buckle Inc/The                         | Buckle Inc/The                                                              | CUSIP: 118440106<br>LEI: 5299007IU0461T3GDL34 | Long             | EC               | CORP              | US        |    265000 | NS      | $12017750.00  | 4.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Nucor Corp                             | Nucor Corp                                                                  | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |     85000 | NS      | $11203850.00  | 4.41%             |  |  |  | No            | 1                  | On Loan: —       |
| Westlake Corp                          | Westlake Corp                                                               | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | EC               | CORP              | US        |    105000 | NS      | $10766700.00  | 4.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Kennedy-Wilson Holdings Inc            | Kennedy-Wilson Holdings Inc                                                 | CUSIP: 489398107<br>LEI: 549300MOI1T78144X610 | Long             | EC               | CORP              | US        |    580000 | NS      | $9123400.00   | 3.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Centamin PLC                           | Centamin PLC                                                                | CUSIP: 000000000<br>LEI: 213800PDI9G7OUKLPV84 | Long             | EC               | CORP              | JE        |   3200000 | NS      | $4367694.92   | 1.72%             |  |  |  | No            | 1                  | On Loan: No      |
| Gemfields Group Ltd                    | Gemfields Group Ltd                                                         | CUSIP: 000000000<br>LEI: 21380017GAVXTCYS5R31 | Long             | EC               | CORP              | GG        |  13500000 | NS      | $3058927.39   | 1.20%             |  |  |  | No            | 1                  | On Loan: —       |
| Marcus & Millichap Inc                 | Marcus & Millichap Inc                                                      | CUSIP: 566324109<br>LEI: 549300B2HE8ULXNB1N48 | Long             | EC               | CORP              | US        |    160000 | NS      | $5512000.00   | 2.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Barrick Gold Corp                      | Barrick Gold Corp                                                           | CUSIP: 067901108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    250000 | NS      | $4295000.00   | 1.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Helmerich & Payne Inc                  | Helmerich & Payne Inc                                                       | CUSIP: 423452101<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | EC               | CORP              | US        |    235000 | NS      | $11648950.00  | 4.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Exxon Mobil Corp                       | Exxon Mobil Corp                                                            | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     60000 | NS      | $6618000.00   | 2.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Steel Dynamics Inc                     | Steel Dynamics Inc                                                          | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |    115000 | NS      | $11235500.00  | 4.42%             |  |  |  | No            | 1                  | On Loan: No      |
| AerSale Corp                           | AerSale Corp                                                                | CUSIP: 00810F106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    655000 | NS      | $10624100.00  | 4.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Berkshire Hathaway Inc                 | Berkshire Hathaway Inc                                                      | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |     30000 | NS      | $9267000.00   | 3.65%             |  |  |  | No            | 1                  | On Loan: No      |
| Vishay Intertechnology Inc             | Vishay Intertechnology Inc                                                  | CUSIP: 928298108<br>LEI: 5493009O8F3QQJTCQR75 | Long             | EC               | CORP              | US        |    480000 | NS      | $10353600.00  | 4.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Seabridge Gold Inc                     | Seabridge Gold Inc                                                          | CUSIP: 811916105<br>LEI: 9845003FEO1A66376A92 | Long             | EC               | CORP              | CA        |    300000 | NS      | $3774000.00   | 1.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Major Drilling Group International Inc | Major Drilling Group International Inc                                      | CUSIP: 560909103<br>LEI: 549300O1MNHCX2FUBC21 | Long             | EC               | CORP              | CA        |   1000000 | NS      | $7769571.64   | 3.06%             |  |  |  | No            | 1                  | On Loan: No      |
| FRP Holdings Inc                       | FRP Holdings Inc                                                            | CUSIP: 30292L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    120000 | NS      | $6463200.00   | 2.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Cal-Maine Foods Inc                    | Cal-Maine Foods Inc                                                         | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |    185000 | NS      | $10073250.00  | 3.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Federated Hermes Inc                   | Federated Hermes Inc                                                        | CUSIP: 314211103<br>LEI: R05X5UQ874RGFF7HHD84 | Long             | EC               | CORP              | US        |    325000 | NS      | $11800750.00  | 4.64%             |  |  |  | No            | 1                  | On Loan: No      |
| Value Partners Group Ltd               | Value Partners Group Ltd                                                    | CUSIP: 000000000<br>LEI: 549300RYVTCSHFKXHB81 | Long             | EC               | CORP              | KY        |  10000000 | NS      | $3689729.61   | 1.45%             |  |  |  | No            | 1                  | On Loan: No      |
| Lam Research Corp                      | Lam Research Corp                                                           | CUSIP: 512807108<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |       500 | NS      | $210150.00    | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Clarkson PLC                           | Clarkson PLC                                                                | CUSIP: 000000000<br>LEI: 2138007G6BGTEHI3OT22 | Long             | EC               | CORP              | GB        |    100000 | NS      | $3910953.57   | 1.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Pan American Silver Corp               | Pan American Silver Corp                                                    | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |    200000 | NS      | $3268000.00   | 1.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Ashmore Group PLC                      | Ashmore Group PLC                                                           | CUSIP: 000000000<br>LEI: 549300U3L59WB4YI2X12 | Long             | EC               | CORP              | GB        |   1500000 | NS      | $4341339.81   | 1.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Thor Industries Inc                    | Thor Industries Inc                                                         | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |    135000 | NS      | $10191150.00  | 4.01%             |  |  |  | No            | 1                  | On Loan: —       |
| Smart Sand Inc                         | Smart Sand Inc                                                              | CUSIP: 83191H107<br>LEI: 549300JISW1T66DVOK23 | Long             | EC               | CORP              | US        |    750000 | NS      | $1342500.00   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Schnitzer Steel Industries Inc         | Schnitzer Steel Industries Inc                                              | CUSIP: 806882106<br>LEI: 549300F62TK8VRDSM285 | Long             | EC               | CORP              | US        |    260000 | NS      | $7969000.00   | 3.14%             |  |  |  | No            | 1                  | On Loan: No      |
| DDH1 Ltd                               | DDH1 Ltd                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |  12000000 | NS      | $7271479.46   | 2.86%             |  |  |  | No            | 1                  | On Loan: No      |
| Reliance Steel & Aluminum Co           | Reliance Steel & Aluminum Co                                                | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |     57500 | NS      | $11640300.00  | 4.58%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2023-01-17

**Name of Applicant:** SPROTT FOCUS TRUST INC.

**Signature:** Thomas Ulrich

**Name of Signer:** Thomas Ulrich

**Title:** President