<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">

	<schemaVersion>X0202</schemaVersion>
<headerData>
		<submissionType>SCHEDULE 13G/A</submissionType>
		<previousAccessionNumber>0001062993-26-001146</previousAccessionNumber>
		<filerInfo>
			<filer>
				<filerCredentials>
					<cik>0000854157</cik>
					<ccc>XXXXXXXX</ccc>
				</filerCredentials>
			</filer>
			<liveTestFlag>LIVE</liveTestFlag>



		</filerInfo>
	</headerData>
	<formData>
		<coverPageHeader>
			<amendmentNo>1</amendmentNo>
			<securitiesClassTitle>Closed-end Fund Shares</securitiesClassTitle>
			<eventDateRequiresFilingThisStatement>03/31/2026</eventDateRequiresFilingThisStatement>
			<issuerInfo>
				<issuerCik>0000809708</issuerCik>
				<issuerName>Templeton Emerging Markets Fund</issuerName>
					<issuerCusips>
						<issuerCusipNumber>880191101</issuerCusipNumber>
					</issuerCusips>
				<issuerPrincipalExecutiveOfficeAddress>
					<com:street1>300 S.E. 2nd Street</com:street1>
					<com:city>Fort Lauderdale</com:city>
					<com:stateOrCountry>FL</com:stateOrCountry>
					<com:zipCode>33301</com:zipCode>
				</issuerPrincipalExecutiveOfficeAddress>
			</issuerInfo>
			<designateRulesPursuantThisScheduleFiled>
				<designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
			</designateRulesPursuantThisScheduleFiled>
		</coverPageHeader>
		<coverPageHeaderReportingPersonDetails>


			<reportingPersonName>State of Wisconsin Investment Board</reportingPersonName>
			<citizenshipOrOrganization>WI</citizenshipOrOrganization>
			<reportingPersonBeneficiallyOwnedNumberOfShares>
				<soleVotingPower>650000</soleVotingPower>
				<sharedVotingPower>0</sharedVotingPower>
				<soleDispositivePower>650000</soleDispositivePower>
				<sharedDispositivePower>0</sharedDispositivePower>
			</reportingPersonBeneficiallyOwnedNumberOfShares>
			<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>650000</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
			<classPercent>4.35</classPercent>
			<typeOfReportingPerson>EP</typeOfReportingPerson>
		</coverPageHeaderReportingPersonDetails>
		<items>
			<item1>
				<issuerName>Templeton Emerging Markets Fund</issuerName>
				<issuerPrincipalExecutiveOfficeAddress>300 S.E. 2nd Street, Fort Lauderdale, FLORIDA 33301</issuerPrincipalExecutiveOfficeAddress>
			</item1>
			<item2>
				<filingPersonName>State of Wisconsin Investment Board</filingPersonName>
				<principalBusinessOfficeOrResidenceAddress>4703 Madison Yards Way, Suite 700, Madison, WI 53705</principalBusinessOfficeOrResidenceAddress>
				<citizenship>Wisconsin</citizenship>
			</item2>
			<item3>
				<notApplicableFlag>N</notApplicableFlag>
				<typeOfPersonFiling>EP</typeOfPersonFiling>
			</item3>
			<item4>
				<amountBeneficiallyOwned>See Item 9 of the Cover Pages.</amountBeneficiallyOwned>
				<classPercent>See Item 11 of the Cover Pages.</classPercent>
				<numberOfSharesPersonHas>
					<solePowerOrDirectToVote>See Item 5 of the Cover Pages.</solePowerOrDirectToVote>
					<sharedPowerOrDirectToVote>See Item 6 of the Cover Pages.</sharedPowerOrDirectToVote>
					<solePowerOrDirectToDispose>See Item 7 of the Cover Pages.</solePowerOrDirectToDispose>
					<sharedPowerOrDirectToDispose>See Item 8 of the Cover Pages.</sharedPowerOrDirectToDispose>
				</numberOfSharesPersonHas>
			</item4>
			<item5>
				<notApplicableFlag>N</notApplicableFlag>
				<classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
			</item5>
			<item6>
				<notApplicableFlag>Y</notApplicableFlag>
			</item6>
			<item7>
				<notApplicableFlag>Y</notApplicableFlag>
			</item7>
			<item8>
				<notApplicableFlag>Y</notApplicableFlag>
			</item8>
			<item9>
				<notApplicableFlag>Y</notApplicableFlag>
			</item9>
			<item10>
				<notApplicableFlag>N</notApplicableFlag>
				<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.
</certifications>
			</item10>
		</items>
		<signatureInformation>
			<reportingPersonName>State of Wisconsin Investment Board</reportingPersonName>
			<signatureDetails>
				<signature>Lisa Lange</signature>
				<title>Director of Compliance and Senior Legal Counsel</title>
				<date>05/15/2026</date>
			</signatureDetails>
		</signatureInformation>
	</formData>
</edgarSubmission>
