SWIB holds 650,000 EMF shares (4.35%) — Templeton Emerging Markets Fund (EMF)

Rhea-AI Filing Summary

State of Wisconsin Investment Board amended Schedule 13G reporting beneficial ownership in Templeton Emerging Markets Fund. The filer reports 650,000 shares of Closed-end Fund Shares (CUSIP 880191101), representing 4.35% of the class, with 650,000 shares subject to sole voting and dispositive power. The amendment is signed by Lisa Lange, Director of Compliance and Senior Legal Counsel, dated 05/15/2026.

Insights

Institutional Ownership Analyst

Large public pension fund reports a 4.35% stake in EMF.

The State of Wisconsin Investment Board discloses beneficial ownership of 650,000 shares of Templeton Emerging Markets Fund, with sole voting and dispositive authority over those shares. The filing is an amended Schedule 13G/A, indicating passive investor reporting conventions.

This ownership level is below 5% by the filing's classification and remains a passive holding under the Schedule 13G framework. Subsequent filings would show changes in position or voting intent.

Key Figures

Beneficial ownership: 650,000 shares Percent of class: 4.35% Sole voting power: 650,000 shares +2 more

5 metrics

Beneficial ownership 650,000 shares Closed-end Fund Shares reported on Schedule 13G/A

Percent of class 4.35% Percent of class as shown on cover page

Sole voting power 650,000 shares Sole power to vote as reported in Item 5

Sole dispositive power 650,000 shares Sole power to dispose as reported in Item 7

CUSIP 880191101 Templeton Emerging Markets Fund security identifier

Key Terms

Schedule 13G/A, Beneficial ownership, Sole dispositive power

3 terms

Schedule 13G/A regulatory

"Amendment No. 1 ) Templeton Emerging Markets Fund"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficial ownership regulatory

"Item 4. | Ownership (a) | Amount beneficially owned"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Sole dispositive power regulatory

"7 | Sole Dispositive Power 650,000.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Templeton Emerging Markets Fund

(Name of Issuer)

Closed-end Fund Shares

(Title of Class of Securities)

880191101

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 880191101

1

Names of Reporting Persons

State of Wisconsin Investment Board

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

WISCONSIN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 650,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 650,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

650,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.35 %

12

Type of Reporting Person (See Instructions)

EP

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Templeton Emerging Markets Fund
(b)	Address of issuer's principal executive offices: 300 S.E. 2nd Street, Fort Lauderdale, FLORIDA 33301
Item 2.
(a)	Name of person filing: State of Wisconsin Investment Board
(b)	Address or principal business office or, if none, residence: 4703 Madison Yards Way, Suite 700, Madison, WI 53705
(c)	Citizenship: Wisconsin
(d)	Title of class of securities: Closed-end Fund Shares
(e)	CUSIP No.: 880191101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 of the Cover Pages.
(b)	Percent of class: See Item 11 of the Cover Pages.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 of the Cover Pages.
	(ii) Shared power to vote or to direct the vote: See Item 6 of the Cover Pages.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 of the Cover Pages.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 of the Cover Pages.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

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.

State of Wisconsin Investment Board

Signature:	Lisa Lange
Name/Title:	Director of Compliance and Senior Legal Counsel
Date:	05/15/2026

FAQ

What stake does SWIB report in Templeton Emerging Markets Fund (EMF)?

SWIB reports beneficial ownership of 650,000 shares of EMF, equal to 4.35% of the class as stated on the cover page.

Who is the reporting entity on this Schedule 13G/A for EMF?

The filing is submitted by the State of Wisconsin Investment Board, with principal office at 4703 Madison Yards Way, Suite 700, Madison, WI.

Does the filer have voting and dispositive power over the EMF shares?

Yes. The Schedule 13G/A shows 650,000 shares as sole voting power and 650,000 shares as sole dispositive power.

What class of securities is reported in this amendment?

The filing covers Closed-end Fund Shares of Templeton Emerging Markets Fund, identified by CUSIP 880191101.

When was the amendment signed and by whom?

The amendment is signed by Lisa Lange, Director of Compliance and Senior Legal Counsel, dated 05/15/2026.