NPORT-EX 2 TEMF.htm
Templeton
Emerging
Markets
Fund
Statement
of
Investments
(unaudited),
November
30,
2020
See
Notes
to
Statement
of
Investments.
Quarterly
Statement
of
Investments
1
a
a
Industry
Shares
a
Value
a
Common
Stocks
96.4%
Brazil
2.8%
a
B2W
Cia
Digital
..................
Internet
&
Direct
Marketing
Retail
66,200
$
869,549
B3
SA
-
Brasil
Bolsa
Balcao
........
Capital
Markets
144,700
1,515,399
a
Lojas
Americanas
SA
.............
Multiline
Retail
403,559
1,388,454
a
M
Dias
Branco
SA
................
Food
Products
109,200
661,355
TOTVS
SA
.....................
Software
47,700
238,071
Vale
SA
........................
Metals
&
Mining
283,700
4,128,740
8,801,568
Cambodia
0.3%
NagaCorp
Ltd.
..................
Hotels,
Restaurants
&
Leisure
730,000
932,572
China
31.2%
a
Alibaba
Group
Holding
Ltd.
.........
Internet
&
Direct
Marketing
Retail
149,300
4,904,824
a
Alibaba
Group
Holding
Ltd.,
ADR
....
Internet
&
Direct
Marketing
Retail
94,995
25,017,883
b
BAIC
Motor
Corp.
Ltd.,
H,
144A,
Reg
S
Automobiles
360,000
134,742
a
Baidu,
Inc.,
ADR
.................
Interactive
Media
&
Services
22,811
3,170,501
Brilliance
China
Automotive
Holdings
Ltd.
.........................
Automobiles
7,469,200
6,623,729
China
Merchants
Bank
Co.
Ltd.,
A
....
Banks
239,800
1,612,297
China
Merchants
Bank
Co.
Ltd.,
H
....
Banks
585,800
3,713,008
China
Mobile
Ltd.
................
Wireless
Telecommunication
Services
355,291
2,119,411
China
Resources
Cement
Holdings
Ltd.
Construction
Materials
3,015,100
3,744,587
CNOOC
Ltd.
....................
Oil,
Gas
&
Consumable
Fuels
2,099,000
2,088,674
COSCO
SHIPPING
Ports
Ltd.
.......
Transportation
Infrastructure
282,471
186,676
c
Flat
Glass
Group
Co.
Ltd.,
H
........
Semiconductors
&
Semiconductor
Equipment
472,400
1,318,614
Health
&
Happiness
H&H
International
Holdings
Ltd.
..................
Food
Products
382,600
1,564,579
NetEase
,
Inc.,
ADR
...............
Entertainment
19,485
1,760,859
Ping
An
Bank
Co.
Ltd.,
A
...........
Banks
852,800
2,559,301
Ping
An
Insurance
Group
Co.
of
China
Ltd.,
A
.......................
Insurance
215,136
2,940,668
Ping
An
Insurance
Group
Co.
of
China
Ltd.,
H
.......................
Insurance
40,000
470,468
a
Prosus
NV
.....................
Internet
&
Direct
Marketing
Retail
11,570
1,254,067
Sunny
Optical
Technology
Group
Co.
Ltd.
.........................
Electronic
Equipment,
Instruments
&
Components
37,834
739,043
Tencent
Holdings
Ltd.
.............
Interactive
Media
&
Services
363,237
26,479,500
a
Tencent
Music
Entertainment
Group,
ADR
........................
Entertainment
130,572
2,188,387
Uni
-President
China
Holdings
Ltd.
....
Food
Products
1,739,294
1,569,059
Weifu
High-Technology
Group
Co.
Ltd.,
B
...........................
Auto
Components
269,612
528,413
96,689,290
Czech
Republic
0.2%
a,b
Moneta
Money
Bank
A/S,
144A,
Reg
S
Banks
243,000
721,945
a
Hong
Kong
0.1%
Dairy
Farm
International
Holdings
Ltd.
.
Food
&
Staples
Retailing
56,900
230,496
Hungary
0.9%
Richter
Gedeon
Nyrt
.
.............
Pharmaceuticals
112,060
2,652,223
India
6.2%
Bajaj
Holdings
&
Investment
Ltd.
.....
Diversified
Financial
Services
54,871
2,264,545
Coal
India
Ltd.
..................
Oil,
Gas
&
Consumable
Fuels
375,088
633,241
a
ICICI
Bank
Ltd.
..................
Banks
1,521,061
9,703,301
Infosys
Ltd.
.....................
IT
Services
268,602
4,014,719
Tata
Chemicals
Ltd.
..............
Chemicals
204,600
1,082,387
Templeton
Emerging
Markets
Fund
Statement
of
Investments
(unaudited)
Quarterly
Statement
of
Investments
See
Notes
to
Statement
of
Investments.
2
a
a
Industry
Shares
a
Value
a
Common
Stocks
(continued)
India
(continued)
Tata
Investment
Corp.
Ltd.
.........
Capital
Markets
122,221
$
1,553,419
19,251,612
Indonesia
0.7%
Astra
International
Tbk
.
PT
.........
Automobiles
5,503,600
2,060,684
Kenya
0.1%
a
Equity
Group
Holdings
plc
..........
Banks
691,862
217,424
a
Mexico
1.5%
Banco
Santander
Mexico
SA
Institucion
de
Banca
Multiple
Grupo
Financiero
Santand
,
ADR
.................
Banks
789,617
4,129,697
b
Nemak
SAB
de
CV,
144A,
Reg
S
....
Auto
Components
1,902,331
618,251
4,747,948
Pakistan
0.4%
MCB
Bank
Ltd.
..................
Banks
1,055,710
1,173,416
Peru
0.3%
Intercorp
Financial
Services,
Inc.
.....
Banks
34,920
1,042,362
Russia
6.6%
c
Gazprom
PJSC,
ADR
.............
Oil,
Gas
&
Consumable
Fuels
302,044
1,393,506
LUKOIL
PJSC,
ADR
..............
Oil,
Gas
&
Consumable
Fuels
85,666
5,514,765
a,b
Mail.Ru
Group
Ltd.,
GDR,
Reg
S
.....
Interactive
Media
&
Services
27,325
787,129
Sberbank
of
Russia
PJSC,
ADR
.....
Banks
437,637
5,773,125
a
Yandex
NV,
A
...................
Interactive
Media
&
Services
100,956
6,961,926
20,430,451
South
Africa
3.8%
a
Massmart
Holdings
Ltd.
............
Food
&
Staples
Retailing
503,977
1,242,275
Naspers
Ltd.,
N
..................
Internet
&
Direct
Marketing
Retail
52,914
10,632,865
11,875,140
South
Korea
20.2%
Fila
Holdings
Corp.
...............
Textiles,
Apparel
&
Luxury
Goods
65,837
2,448,482
Hankook
Tire
&
Technology
Co.
Ltd.
..
Auto
Components
12,985
383,604
KT
Skylife
Co.
Ltd.
...............
Media
45,931
372,143
LG
Corp.
.......................
Industrial
Conglomerates
100,761
6,414,324
NAVER
Corp.
...................
Interactive
Media
&
Services
50,164
12,604,206
POSCO
.......................
Metals
&
Mining
14,133
2,990,203
Samsung
Electronics
Co.
Ltd.
.......
Technology
Hardware,
Storage
&
Peripherals
558,627
33,607,791
Samsung
Life
Insurance
Co.
Ltd.
.....
Insurance
62,280
4,001,572
62,822,325
Taiwan
14.9%
Catcher
Technology
Co.
Ltd.
........
Technology
Hardware,
Storage
&
Peripherals
140,000
921,854
CTBC
Financial
Holding
Co.
Ltd.
.....
Banks
320,000
214,736
Hon
Hai
Precision
Industry
Co.
Ltd.
...
Electronic
Equipment,
Instruments
&
Components
1,338,712
3,855,670
Largan
Precision
Co.
Ltd.
..........
Electronic
Equipment,
Instruments
&
Components
4,400
496,455
MediaTek
,
Inc.
..................
Semiconductors
&
Semiconductor
Equipment
260,000
6,405,740
PChome
Online,
Inc.
..............
Internet
&
Direct
Marketing
Retail
237,482
733,419
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
......................
Semiconductors
&
Semiconductor
Equipment
1,982,689
33,670,440
46,298,314
Templeton
Emerging
Markets
Fund
Statement
of
Investments
(unaudited)
See
Notes
to
Statement
of
Investments.
Quarterly
Statement
of
Investments
3
a
a
Industry
Shares
a
Value
a
Common
Stocks
(continued)
Thailand
1.7%
Kasikornbank
PCL
...............
Banks
644,900
$
2,338,449
Kiatnakin
Phatra
Bank
PCL
.........
Banks
893,200
1,456,646
Siam
Commercial
Bank
PCL
(The)
...
Banks
214,617
604,791
Thai
Beverage
PCL
...............
Beverages
1,836,100
1,010,636
5,410,522
United
Kingdom
2.5%
Unilever
plc
.....................
Personal
Products
125,328
7,610,698
United
States
2.0%
Cognizant
Technology
Solutions
Corp.,
A
...........................
IT
Services
57,834
4,518,570
a
IMAX
Corp.
.....................
Entertainment
111,779
1,657,683
6,176,253
Total
Common
Stocks
(Cost
$181,000,309)
.....................................
299,145,243
Preferred
Stocks
3.0%
Brazil
3.0%
d
Banco
Bradesco
SA,
ADR,
3.96%
....
Banks
970,024
4,403,909
d
Itau
Unibanco
Holding
SA,
ADR,
4.97%
Banks
917,597
4,909,144
9,313,053
Total
Preferred
Stocks
(Cost
$10,884,779)
......................................
9,313,053
a
a
a
a
a
Escrows
and
Litigation
Trusts
0.0%
e
Hemisphere
Properties
India
Ltd.,
Escrow
Account
................
Equity
Real
Estate
Investment
Trusts
(REITs)
38,214
—
Total
Escrows
and
Litigation
Trusts
(Cost
$–)
...................................
—
Total
Long
Term
Investments
(Cost
$191,885,088)
...............................
308,458,296
Short
Term
Investments
5.8%
a
a
Industry
Shares
a
Value
a
a
a
a
a
a
Money
Market
Funds
5.6%
United
States
5.6%
f,g
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
0%
.............
17,463,013
17,463,013
Total
Money
Market
Funds
(Cost
$17,463,013)
..................................
17,463,013
Templeton
Emerging
Markets
Fund
Statement
of
Investments
(unaudited)
Quarterly
Statement
of
Investments
See
Notes
to
Statement
of
Investments.
4
See
A
bbreviations
on
page
8
.
Short
Term
Investments
(continued)
a
a
Industry
Shares
a
Value
a
a
a
a
a
a
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
0.2%
Money
Market
Funds
0.2%
f,g
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
0%
.............
666,111
$
666,111
Total
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
(Cost
$666,111)
...................................................................
666,111
a
a
a
a
a
Total
Short
Term
Investments
(Cost
$18,129,124
)
................................
18,129,124
a
a
a
a
Total
Investments
(Cost
$210,014,212)
105.2%
..................................
$326,587,420
Credit
Facility
(4.8)%
.........................................................
(15,000,000)
Other
Assets,
less
Liabilities
(0.4)%
...........................................
(1,360,949)
Net
Assets
100.0%
...........................................................
$310,226,471
a
a
a
a
Non-income
producing.
b
Security
was
purchased
pursuant
to
Rule
144A
or
Regulation
S
under
the
Securities
Act
of
1933.
144A
securities
may
be
sold
in
transactions
exempt
from
registration
only
to
qualified
institutional
buyers
or
in
a
public
offering
registered
under
the
Securities
Act
of
1933.
Regulation
S
securities
cannot
be
sold
in
the
United
States
without
either
an
effective
registration
statement
filed
pursuant
to
the
Securities
Act
of
1933,
or
pursuant
to
an
exemption
from
registration.
At
November
30,
2020,
the
aggregate
value
of
these
securities
was
$2,262,067,
representing
0.7%
of
net
assets.
c
A
portion
or
all
of
the
security
is
on
loan
at
November
30,
2020.
d
Variable
rate
security.
The
rate
shown
represents
the
yield
at
period
end.
e
Fair
valued
using
significant
unobservable
inputs.
See
Note
6
regarding
fair
value
measurements.
f
See
Note
5
regarding
investments
in
affiliated
management
investment
companies.
g
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Templeton
Emerging
Markets
Fund
5
Notes
to
Statement
of
Investments
(unaudited)
1.
Organization
Templeton
Emerging
Markets
Fund
(Fund)
is
registered
under
the
Investment
Company
Act
of
1940
(1940
Act)
as
a
closed-
end
management
investment
company
and
applies
the
specialized
accounting
and
reporting
guidance
in
U.S.
Generally
Accepted
Accounting
Principles
(U.S.
GAAP). 
2. Financial
Instrument
Valuation
The
Fund's investments
in
financial
instruments
are
carried
at
fair
value
daily.
Fair
value
is
the
price
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
on
the
measurement
date.
The
Fund
calculates the
net
asset
value
(NAV)
per
share
each
business
day
as
of
4
p.m.
Eastern
time
or
the
regularly
scheduled
close
of
the
New
York
Stock
Exchange
(NYSE),
whichever
is
earlier.
Under
compliance
policies
and
procedures
approved
by
the
Fund’s
Board
of
Trustees
(the
Board),
the
Fund’s
administrator
has
responsibility
for
oversight
of
valuation,
including
leading
the
cross-functional
Valuation
Committee
(VC).
The
Fund
may
utilize
independent
pricing
services,
quotations
from
securities
and
financial
instrument
dealers,
and
other
market
sources
to
determine
fair
value. 
Equity
securities
listed
on
an
exchange
or
on
the
NASDAQ
National
Market
System
are
valued
at
the
last
quoted
sale
price
or
the
official
closing
price
of
the
day,
respectively.
Foreign
equity
securities
are
valued
as
of
the
close
of
trading
on
the
foreign
stock
exchange
on
which
the
security
is
primarily
traded
or
as
of
4
p.m.
Eastern
time.
The
value
is
then
converted
into
its
U.S.
dollar
equivalent
at
the
foreign
exchange
rate
in
effect
at
4
p.m. Eastern
time
on
the
day
that
the
value
of
the
security
is
determined.
Over-the-counter
(OTC)
securities
are
valued
within
the
range
of
the
most
recent
quoted
bid
and
ask
prices.
Securities
that
trade
in
multiple
markets
or
on
multiple
exchanges
are
valued
according
to
the
broadest
and
most
representative
market.
Certain
equity
securities
are
valued
based
upon
fundamental
characteristics
or
relationships
to
similar
securities. 
Investments
in
open-end
mutual
funds
are
valued
at
the
closing
NAV.
The
Fund
has
procedures
to
determine
the
fair
value
of
financial
instruments
for
which
market
prices
are
not
reliable
or
readily
available.
Under
these
procedures,
the
Fund
primarily employs
a
market-based
approach
which
may
use
related
or
comparable
assets
or
liabilities,
recent
transactions,
market
multiples,
book
values,
and
other
relevant
information
for
the
investment
to
determine
the
fair
value
of
the
investment.
An
income-based
valuation
approach
may
also
be
used
in
which
the
anticipated
future
cash
flows
of
the
investment
are
discounted
to
calculate
fair
value.
Discounts
may
also
be
applied
due
to
the
nature
or
duration
of
any
restrictions
on
the
disposition
of
the
investments.
Due
to
the
inherent
uncertainty
of
valuations
of
such
investments,
the
fair
values
may
differ
significantly
from
the
values
that
would
have
been
used
had
an
active
market
existed. 
Trading
in
securities
on
foreign
securities
stock
exchanges
and
OTC
markets
may
be
completed
before
4
p.m.
Eastern
time.
In
addition,
trading
in
certain
foreign
markets
may
not
take
place
on
every
Fund’s
business
day.
Events
can
occur
between
the
time
at
which
trading
in
a
foreign
security
is
completed
and
4
p.m.
Eastern
time
that
might
call
into
question
the
reliability
of
the
value
of
a
portfolio
security
held
by
the
Fund.
As
a
result,
differences
may
arise
between
the
value
of
the
Fund’s
portfolio securities
as
determined
at
the
foreign
market
close
and
the
latest
indications
of
value
at
4
p.m.
Eastern
time.
In
order
to
minimize
the
potential
for
these
differences,
an
independent
pricing
service
may
be
used
to
adjust
the
value
of
the
Fund's
portfolio
securities
to
the
latest
indications
of
fair
value
at 4
p.m.
Eastern
time.
At
November
30,
2020,
certain
securities
may
have
been
fair
valued
using
these
procedures,
in
which
case
the
securities
were
categorized
as
Level
2
inputs
within
the
fair
value
hierarchy.
See
the
Fair
Value
Measurements
note
for
more
information.
When
the
last
day
of
the
reporting
period
is
a
non-business
day,
certain
foreign
markets
may
be
open
on
those
days
that
the
Fund’s
NAV
is
not
calculated,
which
could
result
in
differences
between
the
value
of
the
Fund’s
portfolio
securities
on
the
last
business
day
and
the
last
calendar
day
of
the
reporting
period.
Any
security
valuation
changes
due
to
an
open
foreign
market
are
adjusted
and
reflected
by
the
Fund for
financial
reporting
purposes.
Templeton
Emerging
Markets
Fund
Notes
to
Statement
of
Investments
(unaudited)
6
3.
Concentration
of
Risk 
Investing
in
foreign
securities
may
include
certain
risks
and
considerations
not
typically
associated
with
investing
in
U.S.
securities,
such
as
fluctuating
currency
values
and changing
local, regional
and
global
economic,
political
and
social
conditions,
which
may
result
in
greater
market
volatility.
Current
political
and
financial
uncertainty
surrounding
the
European
Union
may
increase
market
volatility
and
the
economic
risk
of
investing
in
securities
in
Europe.
In
addition,
certain
foreign
securities
may
not
be
as
liquid
as
U.S.
securities. 
The
United
States
and
other
nations
have
imposed
and
could
impose
additional
sanctions
on
certain
issuers
in
Russia
due
to
regional
conflicts.
These
sanctions
could
result
in
the
devaluation
of
Russia’s
currency,
a
downgrade
in
Russian
issuers’
credit
ratings,
or
a
decline
in
the
value
and
liquidity
of
Russian
stocks
or
other
securities.
Such
sanctions
could
also
adversely
affect
Russia’s
economy. The
Fund
may
be
prohibited
from
investing
in
securities
issued
by
companies
subject
to
such
sanctions.
In
addition,
if
the
Fund
holds
the
securities
of
an
issuer
that
is
subject
to
such
sanctions,
an
immediate
freeze
of
that
issuer’s
securities
could
result,
impairing
the
ability
of
the
Fund
to
buy,
sell,
receive
or
deliver
those
securities.
There
is
also
the
risk
that
countermeasures
could
be
taken
by
Russia’s
government,
which
could
involve
the
seizure
of
the
Fund’s
assets.
These
risks
could
affect
the
value
of
the Fund’s
portfolio.
While
the
Fund
holds
securities
of
certain
issuers
impacted
by
the
sanctions,
existing
investments
do
not
presently
violate
the
applicable
terms
and
conditions
of
the
sanctions.
The
sanctions
currently
do
not
affect
the
Fund’s
ability
to
sell
these
securities.
At
November
30,
2020,
the
Fund
had
6.6%
of
its
net
assets
invested
in
Russia.
4. Novel
Coronavirus
Pandemic 
The
global
outbreak
of
the
novel
coronavirus
disease,
known
as
COVID-19, has
caused
adverse
effects
on
many
companies,
sectors,
nations,
regions
and
the
markets
in
general, and
may
continue for
an unpredictable duration.
The
effects
of
this
pandemic
may
materially
impact
the
value
and
performance
of
the Fund, its ability
to
buy
and
sell
fund
investments
at
appropriate
valuations
and its ability
to
achieve its investment
objectives.
5.
Investments
in
Affiliated
Management
Investment
Companies 
The
Fund
invests
in
one
or
more
affiliated
management
investment
companies
for
purposes
other
than
exercising
a
controlling
influence
over
the
management
or
policies.
During
the
period
ended
November
30,
2020,
the
Fund
held
investments
in
affiliated
management
investment
companies
as
follows: 
    aa
Value
at
Beginning
of
Period
Purchases
Sales
Realized
Gain
(Loss)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
End
of
Period
Number
of
Shares
Held
at
End
of
Period
Investment
Income
a      
a  
a  
a  
a  
a  
a  
a  
Templeton
Emerging
Markets
Fund
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
0%
.........
$19,017,262
$7,753,084
$(9,307,333)
$—
$—
$17,463,013
17,463,013
$—
Non-Controlled
Affiliates
Income
from
securities
loaned
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
0%
.........
$—
$1,702,702
$(1,036,591)
$
—
$
—
$666,111
666,111
$—
Total
Affiliated
Securities
....
$19,017,262
$9,455,786
$(10,343,924)
$—
$—
$18,129,124
$—
Templeton
Emerging
Markets
Fund
Notes
to
Statement
of
Investments
(unaudited)
7
6. Fair
Value
Measurements 
The
Fund
follows
a
fair
value
hierarchy
that
distinguishes
between
market
data
obtained
from
independent
sources
(observable
inputs)
and
the Fund's
own
market
assumptions
(unobservable
inputs).
These
inputs
are
used
in
determining
the
value
of
the
Fund's financial
instruments
and
are
summarized
in
the
following
fair
value
hierarchy:
Level
1
–
quoted
prices
in
active
markets
for
identical
financial
instruments
Level
2
–
other
significant
observable
inputs
(including
quoted
prices
for
similar
financial
instruments,
interest
rates,
prepayment
speed,
credit
risk,
etc.)
Level
3
–
significant
unobservable
inputs
(including
the
Fund's
own
assumptions
in
determining
the
fair
value
of
financial
instruments)
The
input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level.
A
summary
of
inputs
used
as
of
November
30,
2020,
in
valuing
the
Fund's
assets
carried
at
fair
value,
is
as
follows:
A
reconciliation
of
assets
in
which
Level
3
inputs
are
used
in
determining
fair
value
is
presented
when
there
are
significant
Level
3
financial
instruments
at
the
beginning
and/or
end
of
the
period.
7.
Subsequent
Events
The Fund
has
evaluated
subsequent
events
through
the
issuance
of
the
Statement
of
Investments
and
determined
that
no
events
have
occurred
that
require
disclosure.
Level
1
Level
2
Level
3
Total
Templeton
Emerging
Markets
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Brazil
...............................
$
8,801,568
$
—
$
—
$
8,801,568
Cambodia
............................
—
932,572
—
932,572
China
...............................
32,137,630
64,551,660
—
96,689,290
Czech
Republic
.......................
—
721,945
—
721,945
Hong
Kong
...........................
—
230,496
—
230,496
Hungary
.............................
—
2,652,223
—
2,652,223
India
................................
—
19,251,612
—
19,251,612
Indonesia
............................
—
2,060,684
—
2,060,684
Kenya
...............................
217,424
—
—
217,424
Mexico
..............................
4,747,948
—
—
4,747,948
Pakistan
.............................
1,173,416
—
—
1,173,416
Peru
................................
1,042,362
—
—
1,042,362
Russia
..............................
6,961,926
13,468,525
—
20,430,451
South
Africa
..........................
1,242,275
10,632,865
—
11,875,140
South
Korea
..........................
—
62,822,325
—
62,822,325
Taiwan
..............................
—
46,298,314
—
46,298,314
Thailand
.............................
—
5,410,522
—
5,410,522
United
Kingdom
.......................
—
7,610,698
—
7,610,698
United
States
.........................
6,176,253
—
—
6,176,253
Preferred
Stocks
........................
9,313,053
—
—
9,313,053
Escrows
and
Litigation
Trusts
...............
—
—
—
a
—
Short
Term
Investments
...................
18,129,124
—
—
18,129,124
Total
Investments
in
Securities
...........
$89,942,979
$236,644,441
$—
$326,587,420
a
Includes
securities
determined
to
h
ave
no
value
at
November
30,
2020.
Templeton
Emerging
Markets
Fund
Notes
to
Statement
of
Investments
(unaudited)
8
Abbreviations
Selected
Portfolio
ADR
American
Depositary
Receipt
GDR
Global
Depositary
Receipt
For
additional
information
on
the
Fund's
significant
accounting
policies,
please
refer
to
the Fund's
most
recent
semiannual
or
annual
shareholder
report.