UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act File Number: 811-05379

Name of Fund:	Royce Focus Trust, Inc.
Fund Address:	745 Fifth Avenue
	New York, NY 10151

Name and address of agent for service:
John E. Denneen, Esq.
Royce & Associates, LLC
745 Fifth Avenue
New York, NY 10151

Registrant’s telephone number, including area code: (212) 508-4500

Date of fiscal year end: 12/31/2013

Date of reporting period: 9/30/2013

Item 1 – Schedule of Investments

SCHEDULE OF INVESTMENTS
ROYCE FOCUS TRUST SEPTEMBER 30, 2013 (UNAUDITED)
		SHARES		VALUE
COMMON STOCKS – 99.1%
Consumer Discretionary – 11.6%
Automobiles - 2.9%
Thor Industries		90,000		$	5,223,600
Household Durables - 1.9%
Garmin		75,000			3,389,250
Specialty Retail - 6.8%
Buckle (The)		100,000			5,405,000
GameStop Corporation Cl. A		80,000			3,972,000
Signet Jewelers		40,000			2,866,000
					12,243,000
Total					20,855,850
Consumer Staples – 6.4%
Food Products - 4.0%
Cal-Maine Foods		45,000			2,164,500
Industrias Bachoco ADR		85,000			3,354,950
Sanderson Farms		25,000			1,631,000
					7,150,450
Personal Products - 2.4%
Nu Skin Enterprises Cl. A		45,000			4,308,300
Total					11,458,750
Energy – 12.3%
Energy Equipment & Services - 9.7%
Helmerich & Payne		85,000			5,860,750
Pason Systems		200,000			4,409,495
TGS-NOPEC Geophysical		50,000			1,471,750
Trican Well Service		250,000			3,400,320
Unit Corporation 1		50,000			2,324,500
					17,466,815
Oil, Gas & Consumable Fuels - 2.6%
Exxon Mobil		55,000			4,732,200
Total					22,199,015
Financials - 18.7%
Capital Markets - 12.4%
Artisan Partners Asset Management		30,000			1,570,800
Ashmore Group		550,000			3,475,214
Federated Investors Cl. B		110,000			2,987,600
Franklin Resources		125,000			6,318,750
Partners Group Holding		5,000			1,225,742
Sprott		1,500,000			4,077,472
Value Partners Group		4,300,000			2,605,758
					22,261,336
Diversified Financial Services - 3.8%
Berkshire Hathaway Cl. B 1		60,000			6,810,600
Real Estate Management & Development - 2.5%
Kennedy-Wilson Holdings		240,000			4,454,400
Total					33,526,336
Health Care – 3.7%
Biotechnology - 2.6%
Myriad Genetics 1		200,000			4,700,000
Pharmaceuticals - 1.1%
Medicines Company (The) 1		60,000			2,011,200
Total					6,711,200
Industrials – 9.7%
Construction & Engineering - 2.0%
Jacobs Engineering Group 1		60,000			3,490,800
Electrical Equipment - 0.7%
GrafTech International 1		150,000			1,267,500
Machinery - 3.0%
Lincoln Electric Holdings		30,000			1,998,600
Semperit AG Holding		75,000			3,449,769
					5,448,369
Marine - 1.0%
Clarkson		50,000			1,821,264
Professional Services - 1.3%
Acacia Research		100,000			2,306,000
Road & Rail - 1.7%
Patriot Transportation Holding 1		90,000			3,044,700
Total					17,378,633
Information Technology – 17.4%
Computers & Peripherals – 9.2%
Apple		10,000			4,767,500
SanDisk Corporation		65,000			3,868,150
Western Digital		125,000			7,925,000
					16,560,650
Semiconductors & Semiconductor Equipment - 4.9%
Analog Devices		45,000			2,117,250
Cirrus Logic 1		150,000			3,402,000
MKS Instruments		120,000			3,190,800
					8,710,050
Software - 3.3%
Microsoft Corporation		180,000			5,995,800
Total					31,266,500
Materials – 19.3%
Chemicals - 3.3%
Mosaic Company (The)		90,000			3,871,800
Westlake Chemical		20,000			2,093,200
					5,965,000
Metals & Mining - 14.6%
Alamos Gold		160,000			2,485,316
Endeavour Mining 1		450,000			297,073
Fresnillo		150,000			2,362,786
Globe Specialty Metals		200,000			3,082,000
Major Drilling Group International		250,000			1,798,456
Nucor Corporation		35,000			1,715,700
Pan American Silver		180,000			1,899,000
Pretium Resources 1		200,000			1,380,516
Randgold Resources ADR		40,000			2,861,200
Reliance Steel & Aluminum		60,000			4,396,200
Schnitzer Steel Industries Cl. A		75,000			2,065,500
Seabridge Gold 1		170,000			1,778,200
					26,121,947
Paper & Forest Products - 1.4%
Stella-Jones		25,000			2,512,014
Total					34,598,961
TOTAL COMMON STOCKS
(Cost $141,399,844)					177,995,245
REPURCHASE AGREEMENT – 0.9%
Fixed Income Clearing Corporation,
0.00% dated 9/30/13, due 10/1/13,
maturity value $1,690,000 (collateralized
by obligations of various U.S. Government
Agencies, 0.25% due 3/31/15, valued at $1,725,000)
(Cost $1,690,000)					1,690,000
TOTAL INVESTMENTS – 100.0%
(Cost $143,089,844)					179,685,245
CASH AND OTHER ASSETS
LESS LIABILITIES – 0.0%					8,867
NET ASSETS – 100.0%				$	179,694,112

1	Non-income producing.

Valuation of Investments:
Investment transactions are accounted for on the trade date. Securities are valued as of the close of trading on the New York Stock Exchange (NYSE) (generally 4:00 p.m. Eastern time) on the valuation date. Securities that trade on an exchange, and securities traded on Nasdaq's Electronic Bulletin Board, are valued at their last reported sales price or Nasdaq official closing price taken from the primary market in which each security trades or, if no sale is reported for such day, at their bid price. Other over-the-counter securities for which market quotations are readily available are valued at their highest bid price, except in the case of some bonds and other fixed income securities which may be valued by reference to other securities with comparable ratings, interest rates and maturities, using established independent pricing services. The Fund values its non-U.S. dollar denominated securities in U.S. dollars daily at the prevailing foreign currency exchange rates as quoted by a major bank. Securities for which market quotations are not readily available are valued at their fair value in accordance with the provisions of the 1940 Act, under procedures approved by the Fund's Board of Directors, and are reported as Level 3 securities. As a general principle, the fair value of a security is the amount which the Fund might reasonably expect to receive for the security upon its current sale. However, in light of the judgment involved in fair valuations, there can be no assurance that a fair value assigned to a particular security will be the amount which the Fund might be able to receive upon its current sale. In addition, if, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, events occur that are significant and may make the closing price unreliable, the Fund may fair value the security. The Fund uses an independent pricing service to provide fair value estimates for relevant non-U.S. equity securities on days when the U.S. market volatility exceeds a certain threshold. This pricing service uses proprietary correlations it has developed between the movement of prices of non-U.S. equity securities and indices of U.S.-traded securities, futures contracts and other indications to estimate the fair value of relevant non-U.S. securities. When fair value pricing is employed, the prices of securities used by the Fund may differ from quoted or published prices for the same security. Investments in money market funds are valued at net asset value per share.

	Level 1	–	quoted prices in active markets for identical securities.
	Level 2	–	other significant observable inputs (including quoted prices for similar securities, foreign securities that may be fair valued and repurchase agreements). The table below includes all Level 2 securities. Level 2 securities with values based on quoted prices for similar securities would be noted in the Schedule of Investments.
	Level 3	–	significant unobservable inputs (including last trade price before trading was suspended, or at a discount thereto for lack of marketability or otherwise, market price information regarding other securities, information received from the company and/or published documents, including SEC filings and financial statements, or other publicly available information).

		Level 1			Level 2			Level 3			Total
Common Stocks		$	177,995,245		$	–		$	–		$	177,995,245
Cash Equivalents			–			1,690,000			–			1,690,000

For the nine months ended September 30, 2013, certain securities have transferred in and out of Level 1 and Level 2 measurements as a result of the fair value pricing procedures for international equities. The Fund recognizes transfers between levels as of the end of the reporting period. At September 30, 2013, securities valued at $13,416,342 were transferred from Level 2 to Level 1 within the fair value hierarchy.

Repurchase Agreements:
The Fund may enter into repurchase agreements with institutions that the Fund's investment adviser has determined are creditworthy. The Fund restricts repurchase agreements to maturities of no more than seven days. Securities pledged as collateral for repurchase agreements, which are held until maturity of the repurchase agreements, are marked-to-market daily and maintained at a value at least equal to the principal amount of the repurchase agreement (including accrued interest). Repurchase agreements could involve certain risks in the event of default or insolvency of the counter-party, including possible delays or restrictions upon the ability of the Fund to dispose of its underlying securities.

Securities Lending:
The Fund loans securities through a lending agent to qualified institutional investors for the purpose of realizing additional income. Collateral for the Fund on all securities loaned is accepted in cash and cash equivalents and invested temporarily by the custodian. The collateral maintained is at least 100% of the current market value of the loaned securities. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. The Fund retains the risk of any loss on the securities on loan as well as incurring the potential loss on investments purchased with cash collateral received for securities lending. The Fund's securities lending income consists of the income earned on investing cash collateral, plus any premium payments received for lending certain securities, less any rebates paid to borrowers and lending agent fees associated with the loan. The lending agent is not affiliated with Royce.

Other information regarding the Fund is available in the Fund's most recent Report to Stockholders. This information is available through The Royce Funds (www.roycefunds.com) and on the Securities and Exchange Commission's website (www.sec.gov).

Item 2 - Controls and Procedures
(a) The Registrant’s principal executive and principal financial officers have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report (as required by Rule 30a-3(b) under the Investment Company Act of 1940 (the “Act”)), that the Registrant’s disclosure controls and procedures (as defined by Rule 30a-3(c) under the Act) are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the internal control over financial reporting.

Item 3 – Exhibits
Certifications pursuant to Rule 30a-2(a) under the Act are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Royce Focus Trust, Inc.
By:

/s/ Charles M. Royce
Charles M. Royce
President, Royce Focus Trust, Inc.
Date: November 19, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:

/s/ Charles M. Royce
Charles M. Royce
President, Royce Focus Trust, Inc.
Date: November 19, 2013

By:

/s/ John D. Diederich
John D. Diederich
Treasurer, Royce Focus Trust, Inc.
Date: November 19, 2013