[SCHEDULE 13G/A] Templeton Emerging Markets Fund SEC Filing

Rhea-AI Filing Summary

City of London Investment Management Company Limited (CLIM) reports beneficial ownership of 3,959,215 shares of Templeton Emerging Markets Fund, representing 26.5% of the class. CLIM states it holds sole voting and sole dispositive power over these shares, and that the shares are owned directly by the City of London Funds and certain segregated accounts for which CLIM exercises discretionary authority.

CLIM describes itself as a UK investment manager and registered investment adviser that manages multiple private funds and segregated accounts. The filing notes effective informational barriers with its parent so CLIM independently exercises voting and investment power, and that one segregated account has the right to receive dividends or sale proceeds exceeding 5% of the reported shares.

Positive

• Material stake disclosed: CLIM reports owning 3,959,215 shares (26.5%), a clearly stated large position.
• Sole voting and dispositive power: The filing confirms CLIM has exclusive authority to vote and dispose of the reported shares.

Negative

• None.

Insights

Financial Analyst

TL;DR: CLIM holds a material 26.5% stake with sole voting and dispositive power, a significant ownership position in EMF.

CLIM's disclosed holding of 3,959,215 shares represents a concentrated minority position that could meaningfully influence shareholder outcomes if voting alignments change. The filing confirms sole voting and dispositive authority, and ownership is held through multiple City of London Funds and segregated accounts. The advisory relationship and stated informational barriers to the parent reduce attribution concerns, clarifying control resides with CLIM. This is a material disclosure for investor ownership registers and governance monitoring.

Corporate Governance Expert

TL;DR: A single registered adviser reports sole control over a large 26.5% equity position, warranting governance attention.

The filing documents CLIM's exclusive voting and disposition rights, and explicitly states the shares are held in funds and segregated accounts under CLIM's discretionary authority. The note on informational barriers to the parent entity indicates CLIM asserts independent decision-making, which is material for assessing potential attribution or concerted action. The identification that one segregated account may receive dividends or proceeds above 5% is a specific ownership detail relevant to beneficiary rights and disclosures.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 16)

Templeton Emerging Markets Fund

(Name of Issuer)

Common Stock

(Title of Class of Securities)

880191101

(CUSIP Number)

06/30/2025

(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)

SCHEDULE 13G

CUSIP No. 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 3,959,215.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,959,215.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,959,215.00

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)

26.5 %

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 33301-1923
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, 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 and GBL 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: 3,959,215.00
(b)	Percent of class: 26.5%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 3,959,215.00
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 3,959,215.00
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
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

Signature:	/s/ Catrina Reagan
Name/Title:	Catrina Reagan/US Chief Compliance Officer
Date:	08/08/2025

FAQ

Who filed this Schedule 13G/A for EMF?

City of London Investment Management Company Limited (CLIM) filed the statement.

How many Templeton Emerging Markets Fund (EMF) shares does CLIM report owning?

3,959,215 shares are reported as beneficially owned by CLIM.

What percentage of EMF does CLIM's holding represent?

26.5% of the class is reported as beneficially owned by CLIM.

Does CLIM have voting or dispositive power over the shares?

Yes; CLIM reports sole voting power and sole dispositive power over the 3,959,215 shares.

Who holds the shares on whose behalf CLIM reports ownership?

The shares are owned directly by the City of London Funds and certain segregated accounts for which CLIM exercises discretionary authority; one segregated account is noted to have rights to dividends or sale proceeds exceeding 5%.