Templeton Emerging Markets Fund : Portfolio Holdings Report

Templeton Emerging Markets Fund March 31, 2022 March 31, 2022 Closed-End Fund Portfolio Holdings The following portfolio data for the Franklin Templeton funds is made available to the public under our Portfolio Holdings Release Policy and is "as of" the date indicated. This portfolio data should not be relied upon as a complete listing of a fund's holdings (or of a fund's top holdings) as information on particular holdings may be withheld if it is in the fund's interest to do so. Additionally, foreign currency forwards are not included in the portfolio data. Instead, the net market value of all currency forward contracts is included in cash and other net assets of the fund. Further, portfolio holdings data of over-the-counter derivative investments such as Credit Default Swaps, Interest Rate Swaps or other Swap contracts list only the name of counterparty to the derivative contract, not the details of the derivative. Complete portfolio data can be found in the statement of investments in the annual and semi-annual report to shareholders. Security IdentifierSecurity Name Shares/ Positions HeldMarket Value % of TNACouponMaturity Rate Date
6155915 ACC LTD 23,700 $667,396 0.27% N/AN/A
BK6YZP5 ALIBABA GROUP HOLDING LTD 1,106,788 $15,104,112 6.12% N/AN/A
BN925F7 AMERICANAS SA 303,233 $2,079,140 0.84% N/AN/A
BPVD0V3 AMERICANAS SA 6,744 $45,490 0.02% N/AN/A
B800MQ5 ASTRA INTERNATIONAL TBK PT 5,028,484 $2,300,945 0.93% N/AN/A
BG36ZK1 B3 SA - BRASIL BOLSA BALCAO 346,821 $1,144,210 0.46% N/AN/A
BTF8BT7 BAIC MOTOR CORP LTD 360,000 $119,960 0.05% N/AN/A
B0J2D41 BAIDU INC 107,408 $1,895,620 0.77% N/AN/A
6124142 BAJAJ HOLDINGS & INVESTMENT LTD 40,140 $2,637,780 1.07% N/AN/A
059460303 BANCO BRADESCO SA 1,275,970 $5,920,500 2.40% N/AN/A
BD49WQ3 BANCO SANTANDER MEXICO SA INSTITUCION DE BANCA MULTIPLE GRUPO FINANCIERO SANTAND 766,117 $4,014,453 1.63% N/AN/A
DDD1182825 BANK OF NOVA SCOTIA -10,000,000 -$10,000,000 -4.05% N/A 12/31/49
6181482 BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LTD 8,358,200 $2,748,688 1.11% N/AN/A
DDD1182105 CHERVON HOLDINGS LIMITED 34,100 $235,645 0.10% N/AN/A
BP3R273 CHINA MERCHANTS BANK CO LTD 977,130 $7,170,933 2.91% N/AN/A
B41XC98 CHINA RESOURCES CEMENT HOLDINGS LTD 3,236,891 $2,683,253 1.09% N/AN/A
6193766 CHINA RESOURCES LAND LTD 187,825 $869,662 0.35% N/AN/A
192446102 COGNIZANT TECHNOLOGY SOLUTIONS CORP 51,668 $4,633,069 1.88% N/AN/A
6354251 COSCO SHIPPING PORTS LTD 315,371 $244,396 0.10% N/AN/A
B953PM3 DAQO NEW ENERGY CORP 76,746 $3,171,144 1.29% N/AN/A
BZCNB42 DELIVERY HERO SE 7,600 $331,281 0.13% N/AN/A
BMJ0XQ1 E-FINANCE FOR DIGITAL & FINANCIAL INVESTMENTS 243,652 $235,238 0.10% N/AN/A
B66CTX7 FILA HOLDINGS CORP 83,240 $2,137,042 0.87% N/AN/A
368287207 GAZPROM PJSC 105,793 $0 0.00% N/AN/A
B23DBK6 GENPACT LTD 95,736 $4,165,473 1.69% N/AN/A
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Security IdentifierSecurity Name

BD20C13

BD5LR63

BF5L8M0

BSZ2BY7

GREENTOWN SERVICE GROUP CO LTD

GUANGZHOU TINCI MATERIALS TECHNOLOGY CO LTD

HEALTH & HAPPINESS H&H INTERNATIONAL HOLDINGS LTD

ICICI BANK LTD

• 457756500 IFT MONEY MARKET PORTFOLIO

• 6205122 INFOSYS LTD

BK8WRM8 2849739

INTERCORP FINANCIAL SERVICES INC

ITAU UNIBANCO HOLDING SA

BKPQZT6 6888794

JD.COM INC

KASIKORNBANK PCL

BHQPST2 6491095

KESHUN WATERPROOF TECHNOLOGIES CO LTD

KIATNAKIN PHATRA BANK PCL

B4070X1 6451668

KT SKYLIFE CO LTD

LARGAN PRECISION CO LTD

B8CL0T5

LEGOCHEM BIOSCIENCES INC

• 6346913 LG CHEM LTD

• 6537030 LG CORPBKDQ8C2

LONGSHINE TECHNOLOGY GROUP CO LTD

BYZDW27

LUKOIL PJSC

B3V5GG2

MASSMART HOLDINGS LTD

6611570

MCB BANK LTD

B1FRH89

M DIAS BRANCO SA

6372480

MEDIATEK INC

B1FSSM3

NAGACORP LTD

6560393

NAVER CORP

BYQ32R1

NEMAK SAB DE CV

6636421

NETCARE LTD

BM93SF4 647581107

NETEASE INC

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC

B05DVL1 2684532

PCHOME ONLINE INC

PETROLEO BRASILEIRO SA

BD5CPS4

PING AN BANK CO LTD

B01FLR7 6693233

PING AN INSURANCE GROUP CO OF CHINA LTD

POSCO HOLDINGS INC

Shares/ Positions HeldMarket

Value

% of TNACoupon

RateMaturity

Date

1,092,400

$1,089,244 $6,548,739

0.44% 2.65%N/A

N/A

445,760

N/A

N/A

589,000

$823,636

0.33%

N/A

N/A

38,214

$0

0.00%

N/A

N/A

664,400

$2,441,224

0.99%

N/A

N/A

1,446,410

$13,768,084

5.58%

N/A

N/A

17,285,861

$17,285,861

7.01%

N/A

N/A

88,535

$2,212,692

0.90%

N/A

N/A

37,386

$1,291,686

0.52%

N/A

N/A

901,029

$5,144,875

2.09%

N/A

N/A

11,101

$315,435

0.13%

N/A

N/A

662,952 687,488

$3,197,752 $1,251,649

1.30% 0.51%

N/A

N/A

N/A

N/A

534,625

$1,103,904

0.45%

N/A

N/A

45,931

$334,967

0.14%

N/A

N/A

3,243

$212,137

0.09%

N/A

N/A

30,894

$1,183,250

0.48%

N/A

N/A

2,915

$1,270,973

0.52%

N/A

N/A

98,917 402,034

$6,198,227 $1,752,186

2.51% 0.71%

N/A

N/A

N/A

N/A

86,387

$0

0.00%

N/A

N/A

524,986

$1,646,933

0.67%

N/A

N/A

1,048,503

$829,125

0.34%

N/A

N/A

109,200

$564,592

0.23%

N/A

N/A

293,880

$9,151,925

3.71%

N/A

N/A

730,000

$646,742

0.26%

N/A

N/A

36,194

$10,037,374

4.07%

N/A

N/A

1,845,731

$497,367

0.20%

N/A

N/A

48,900

$53,855

0.02%

N/A

N/A

110,820 99,880 134,582 621,620 852,800 404,337 14,581 80,301

$1,999,512

0.81% 0.05% 0.17% 1.77% 0.83% 1.15% 1.41% 1.76%

N/A

N/A

$114,862 $428,202 $4,366,619 $2,058,566 $2,826,764 $3,489,953 $4,331,045

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

BJDS7L3

PROSUS NV

N/A

N/A

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Security IdentifierSecurity NameShares/ Positions HeldMarket

Value

% of TNACoupon

RateMaturity

Date

BC9ZH86

RICHTER GEDEON NYRT

6771720

SAMSUNG ELECTRONICS CO LTD

B12C0T9

SAMSUNG LIFE INSURANCE CO LTD

80585Y308

SBERBANK OF RUSSIA PJSC

ETYPUS001

SCOTIABK NYE 04JUN20

BKPN4N4 6889106

SOULBRAIN CO LTD/NEW

TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD

B01NPJ1 6461377

TATA CONSULTANCY SERVICES LTD

TATA INVESTMENT CORP LTD

B0190C7 880191101

TECHTRONIC INDUSTRIES CO LTD

TEMPLETON EMERGING MARKETS FUND

G87572163

TENCENT HOLDINGS LTD

BFZYWR2

TENCENT MUSIC ENTERTAINMENT GROUP

B15F664

THAI BEVERAGE PCL

B10LQP6

449,344

90,408

$25,656,595

$1,911,610

10.40%

0.77%

N/A

N/A

86,446

$4,671,124

1.89%

N/A

N/A

-15,000,000

253,682

-$15,000,000

$0

-6.08%

0.00%

N/A

16,799 1,477,450

64,336 74,321 56,700 2,063 203,832 400,887

$3,359,092 $30,328,331 $3,155,460 $1,323,385

$908,422 $28,366 $9,395,562 $1,952,319

1.36% 12.29% 1.28% 0.54% 0.37% 0.01% 3.81% 0.79%

N/A 02/20/49

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

1,836,100

$966,142

0.39%

N/A

N/A

TOTVS SA

B10RZP7

UNILEVER PLC

B29MKF5

UNI-PRESIDENT CHINA HOLDINGS LTD

2196286

47,700

$364,422

0.15%

N/A

N/A

81,734

$3,711,232

1.50%

N/A

N/A

2,074,094

$1,799,886

0.73%

N/A

N/A

VALE SA

560317208 6944953

VK CO LTD

WEIFU HIGH-TECHNOLOGY GROUP CO LTD

BL6B9P1

WUXI BIOLOGICS CAYMAN INC

296,942

$5,961,476

2.42%

N/A

N/A

56,814 269,612 103,005 24,872 87,356

$0 $522,637 $817,926 $748,647

0.00% 0.21% 0.33% 0.30% 0.00%

N/A

N/A

N/A

N/A

N/A

N/A

BK4Y052

XP INC

N/A

N/A

N97284108

YANDEX NV

$0

N/A

N/A

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Important Legal Information

• • Portfolio holdings are subject to change without notice and may not represent current or future portfolio composition.The portfolio data is "as of" the date indicated and we disclaim any responsibility to update the information.

• • The net market value of all currency forward contracts is included in cash and other net assets, reflected in the base currency of the fund. The net market value of any Credit Default, Interest Rate and/or other Swap contract positions are displayed as exposure to the issuing counterparty (e.g., "Citibank") .

• • Unlike the fund's regulatory filings, the portfolio data and its presentation in this document are not required to conform to Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) presentation requirements. Therefore, it may differ from that in the complete statement of investments in the annual and semiannual report to shareholders filed with the SEC on Form N-CSR, and the complete statement of investments provided in the first and third quarter SEC Form N-Q filings for each fiscal year.

• • The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or a recommendation to buy or sell securities or other investments.

• • Unlike open-end funds (mutual funds), closed-end funds are not continuously offered. Closed-end funds trade on the secondary market through a national stock exchange at a price which may be above (a premium), but is often below (a discount to) the net asset value (NAV) of the fund's portfolio.

Franklin Templeton Portfolio Advisors, Inc.	TRANSFER AGENT
One Franklin Parkway	American Stock Transfer & Trust Co., LLC
San Mateo, CA 94403	6201 15th Avenue
(800) DIAL BEN/342-5236	Brooklyn, NY 11219
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