Templeton Emerging Markets Fund ownership update: City of London Investment Management Company Limited reports beneficial ownership of 3,541,856 shares of Common Stock, representing 23.7% of the class. The filing states CLIM has sole voting and dispositive power over 3,541,856 shares. One Segregated Account is noted as having a right to receive dividends or sale proceeds exceeding 5% of the shares reported.
Positive
None.
Negative
None.
Insights
Large passive stake disclosed by manager with sole voting power.
City of London Investment Management Company Limited reports beneficial ownership of 3,541,856 shares, equal to 23.7% of the class, and states sole voting and dispositive power. The position is held directly by City of London Funds and Segregated Accounts.
Concentration at 23.7% signals a meaningful holder; voting and disposition are exercised by CLIM per the filing. Subsequent filings or proxy disclosures would show if this stake results in governance influence.
Filing follows Schedule 13G/A disclosure conventions and attributes ownership to advisory funds.
The statement notes informational barriers between CLIM and its parent and lists multiple City of London Funds as owners. CLIM declares sole voting and dispositive power for the reported shares.
Disclosure flags that a Segregated Account has rights to dividends or proceeds above 5%; investors should consult future Schedule 13 filings for changes in ownership or voting arrangements.
Key Figures
Shares beneficially owned:3,541,856 sharesPercent of class:23.7%Sole voting power:3,541,856 shares+2 more
5 metrics
Shares beneficially owned3,541,856 sharesAmount beneficially owned reported in Schedule 13G/A
Percent of class23.7%Percent of common stock class reported in Item 4
Sole voting power3,541,856 sharesSole power to vote as reported in Item 4(c)(i)
Sole dispositive power3,541,856 sharesSole power to dispose as reported in Item 4(c)(iii)
Shared voting/dispositive power0.00 sharesShared powers reported as zero in Item 4(c)(ii)/(iv)
Key Terms
Schedule 13G/A, beneficial ownership, sole dispositive power, Segregated Accounts
4 terms
Schedule 13G/Aregulatory
"This statement is being filed by City of London Investment Management Company Limited"
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 ownershipfinancial
"Amount beneficially owned: 3,541,856.00"
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 powerregulatory
"Sole power to dispose or to direct the disposition of: 3,541,856.00"
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.
Segregated Accountsfinancial
"unaffiliated third-party segregated accounts over which CLIM exercises discretionary voting"
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 19)
Templeton Emerging Markets Fund
(Name of Issuer)
Common Stock
(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
City of London Investment Management Company Limited
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
UNITED KINGDOM
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
3,541,856.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
3,541,856.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,541,856.00
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)
23.7 %
12
Type of Reporting Person (See Instructions)
IA
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, FL 33301
Item 2.
(a)
Name of person filing:
This statement is being filed by City of London Investment Management Company Limited ("CLIM" or the "Reporting Person"). CLIM is a fund manager, which specializes in investing in closed-end investment companies and is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940. CLIM is controlled by City of London Investment Group plc ("CLIG"), which is listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational barriers have been established between CLIM and CLIG such that voting and investment power over the subject securities is exercised by CLIM independently of CLIG, and, accordingly, attribution of beneficial ownership is not required between CLIM and CLIG.
CLIM is principally engaged in the business of providing investment advisory services to various public and private investment funds, including Emerging (BMI) Markets Country Fund ("BMI"), a private investment fund organized as a Delaware business trust, Emerging Markets Free Fund ("CF"), a private investment fund organized as a Delaware business trust, Emerging Markets Global Fund ("CG"), a private investment fund organized as a Delaware business trust, Emerging Markets Investable Fund ("CI"), a private investment fund organized as a Delaware business trust, Global Emerging Markets Fund ("EUREKA"), a private investment fund organized as a Delaware business trust, The Emerging World Fund ("EWF"), a Dublin, Ireland-listed open-ended investment company, Emerging (Free) Markets Country Fund ("FREE"), a private investment fund organized as a Delaware business trust, Emerging Markets Country Fund ("GBL"), a private investment fund organized as a Delaware business trust, The EM Special Situations CEF Focused Fund ("UNIQUE"), a private investment fund organized as a Delaware business trust and unaffiliated third-party segregated accounts over which CLIM exercises discretionary voting and investment authority (the "Segregated Accounts").
BMI, CF, CG, CI, EUREKA, EWF, FREE, GBL and UNIQUE are collectively referred to herein as the "City of London Funds."
The Shares to which this Schedule 13G relates are owned directly by the City of London Funds and the Segregated Accounts.
(b)
Address or principal business office or, if none, residence:
77 Gracechurch Street
London EC3V 0AS
England
(c)
Citizenship:
England and Wales
(d)
Title of class of securities:
Common Stock
(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:
3,541,856.00
(b)
Percent of class:
23.7 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
3,541,856.00
(ii) Shared power to vote or to direct the vote:
0.00
(iii) Sole power to dispose or to direct the disposition of:
3,541,856.00
(iv) Shared power to dispose or to direct the disposition of:
0.00
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
One of the Segregated Accounts is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than 5% of the Shares reported herein.
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.
City of London Investment Management Company Limited
What stake does City of London Investment Management hold in EMF?
City of London Investment Management reports beneficial ownership of 3,541,856 shares, representing 23.7% of Templeton Emerging Markets Fund common stock. The filing states CLIM has sole voting and dispositive power over those shares.
Who actually owns the 3,541,856 shares reported for EMF?
The shares are owned directly by the City of London Funds and certain Segregated Accounts for which CLIM exercises voting and investment authority. CLIM files the statement as the reporting investment manager.
Does CLIM share voting or dispositive power over the EMF shares?
The filing states CLIM has sole voting power and sole dispositive power over 3,541,856 shares. Shared voting and dispositive powers are reported as 0.00 in the filing.
Is any other party entitled to dividends or proceeds from the EMF shares?
Yes. The filing notes one Segregated Account is known to have the right to receive dividends or sale proceeds exceeding 5% of the shares reported; the filing lists no other named persons with such rights.
What entity filed the Schedule 13G/A for EMF?
The statement was filed by City of London Investment Management Company Limited (CLIM), an adviser controlled by City of London Investment Group plc but reporting exercised voting and investment power independently per the filing.
