City of London Investment Management Company Limited reports beneficial ownership of 8,937,505 shares (35.5%) of Templeton Dragon Fund Inc. The filing states these Shares are owned directly by the City of London Funds and certain Segregated Accounts for which CLIM exercises discretionary voting and investment authority.
One Segregated Account is identified as having the right to receive dividends or sale proceeds in excess of 5% of the reported Shares. The statement is filed as an Amendment (No. 2) to a Schedule 13G/A.
Positive
None.
Negative
None.
Insights
Large passive stake disclosed by an institutional manager.
CLIM reports 8,937,505 shares representing 35.5% of the class, held directly by named City of London Funds and Segregated Accounts. The filing characterizes CLIM as exercising discretionary voting and investment authority over these holdings.
Because this is a Schedule 13G/A amendment, it reflects a passive/investment-manager reporting regime rather than an active takeover intent; subsequent filings would be required to signal a change in intent or control.
Material ownership concentration, with a named account entitled to >5% proceeds.
The disclosure notes one Segregated Account has the right to receive dividends or sale proceeds exceeding 5% of the reported Shares. This identifies a specific beneficial-interest pathway inside the larger position.
Cash-flow treatment and trading intentions are not described in the excerpt; any trading or voting changes would appear in later amendments or Form 13D/Form 4 filings if the posture shifts.
Key Figures
Shares beneficially owned:8,937,505 sharesPercent of class:35.5%Reporting date:03/31/2026
3 metrics
Shares beneficially owned8,937,505 sharesreported on Schedule 13G/A
Percent of class35.5%percent of Templeton Dragon Fund common stock
Reporting date03/31/2026date listed near cover header
"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.
Segregated Accountsfinancial
"unaffiliated third-party segregated accounts over which CLIM exercises discretionary voting"
Beneficially ownedregulatory
"Amount beneficially owned: 8,937,505.00"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
What stake does City of London report in Templeton Dragon Fund (TDF)?
City of London reports beneficial ownership of 8,937,505 shares, equal to 35.5% of Templeton Dragon Fund's common stock, as stated in the Schedule 13G/A amendment.
Who holds the shares reported by City of London in TDF?
The shares are owned directly by the City of London Funds and certain Segregated Accounts over which CLIM exercises discretionary voting and investment authority, per the filing.
Does any party receive dividends or proceeds for these shares?
Yes; the filing states that one Segregated Account is known to have the right to receive dividends or proceeds from sale exceeding 5% of the reported shares.
Is City of London acting as an active controller of TDF per this filing?
The filing identifies CLIM as an investment manager reporting ownership under Schedule 13G/A, indicating a passive reporting posture rather than an explicit control or activist intent in this amendment.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
TEMPLETON DRAGON FUND INC
(Name of Issuer)
Common Stock
(Title of Class of Securities)
88018T101
(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):
88018T101
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
8,937,505.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
8,937,505.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
8,937,505.00
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)
35.5 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
TEMPLETON DRAGON FUND INC
(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, China "A" Share (CEF) Fund ("CHINA"), 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, CHINA, 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.:
88018T101
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:
8,937,505.00
(b)
Percent of class:
35.5 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
8,937,505.00
(ii) Shared power to vote or to direct the vote:
0.00
(iii) Sole power to dispose or to direct the disposition of:
8,937,505.00
(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
