Not

FDIC

Insured

May

Lose

Value

No

Bank

Guarantee

TLTEI-Q3PH

1

Schedule

of

Investments

(unaudited)

Templeton

Emerging

Markets

Income

Fund

2

Notes

to

Schedule

of

Investments

10

Templeton

Emerging

Markets

Income

Fund

Schedule

of

Investments

(unaudited),

September

30,

2023

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

2

a

a

Industry

Shares

a

Value

a

Common

Stocks

1.3%

South

Africa

1.3%

a,b,c

K2016470219

South

Africa

Ltd.,

A

....

Broadline

Retail

93,760,463

$

—

a,b,c

K2016470219

South

Africa

Ltd.,

B

....

Broadline

Retail

161,018,517

—

b

Platinum

Group

Metals

Ltd.,

(CAD

Traded)

......................

Metals

&

Mining

2,359,882

2,675,564

b

Platinum

Group

Metals

Ltd.,

(USD

Traded)

......................

Metals

&

Mining

469,750

530,817

b,d

Platinum

Group

Metals

Ltd.,

(USD

Traded),

144A

.................

Metals

&

Mining

48,837

55,370

3,261,751

Total

Common

Stocks

(Cost

$5,513,828)

.......................................

3,261,751

Principal

Amount

*

a

a

a

a

a

Convertible

Bonds

0.0%

†

Bermuda

0.0%

†

d,e,f,g

Digicel

Group

Holdings

Ltd.

,

Sub.

Bond

,

144A,

PIK,

7

%

,

Perpetual

.........

Wireless

Telecommunication

Services

611,735

14,255

Total

Convertible

Bonds

(Cost

$168,937)

.......................................

14,255

Corporate

Bonds

4.1%

Bermuda

0.0%

†

d,e,f

Digicel

Group

Holdings

Ltd.

,

Senior

Note

,

144A,

PIK,

8

%

,

4/01/25

......

Wireless

Telecommunication

Services

278,325

61,232

Costa

Rica

4.1%

a,c

Reventazon

Finance

Trust

,

Senior

Secured

Bond

,

144A,

8

%

,

11/15/33

.

Financial

Services

11,149,920

10,564,431

South

Africa

0.0%

a,d,e

K2016470219

South

Africa

Ltd.

,

Senior

Secured

Note,

144A,

PIK,

3%,

12/31/22

.....................

Broadline

Retail

8,125,247

—

Senior

Secured

Note,

144A,

PIK,

8%,

12/31/22

.....................

Broadline

Retail

2,886,099

EUR

—

a,d,e

K2016470260

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

PIK,

25

%

,

12/31/22

.....................

Broadline

Retail

61,769,102

—

—

Total

Corporate

Bonds

(Cost

$45,870,962)

......................................

10,625,663

a

a

Industry

Principal

Amount

*

a

Value

Foreign

Government

and

Agency

Securities

106.0%

Argentina

1.8%

Argentina

Government

Bond

,

Senior

Bond,

3.625%,

7/09/35

.....

16,852,222

4,198,824

Senior

Note,

0.75%,

7/09/30

......

967,775

277,589

4,476,413

Brazil

5.7%

Brazil

Notas

do

Tesouro

Nacional

,

10%,

1/01/31

..................

62,380,000

BRL

11,570,763

Templeton

Emerging

Markets

Income

Fund

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

3

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Brazil

(continued)

Brazil

Notas

do

Tesouro

Nacional,

(continued)

F,

10%,

1/01/29

................

16,530,000

BRL

$

3,135,177

14,705,940

Colombia

2.1%

Colombia

Government

Bond,

Senior

Bond,

9.85%,

6/28/27

............

262,000,000

COP

60,415

Colombia

Titulos

de

Tesoreria

,

B,

6.25%,

11/26/25

..............

131,000,000

COP

29,586

B,

7.5%,

8/26/26

...............

2,517,200,000

COP

567,810

B,

13.25%,

2/09/33

.............

7,041,000,000

COP

1,865,420

B,

7.25%,

10/18/34

.............

5,278,000,000

COP

942,079

B,

6.25%,

7/09/36

..............

1,386,000,000

COP

218,380

B,

9.25%,

5/28/42

..............

8,661,000,000

COP

1,689,354

5,373,044

Dominican

Republic

5.4%

d

Dominican

Republic

Government

Bond

,

Senior

Bond,

Reg

S,

6.85%,

1/27/45

14,000,000

11,954,880

Senior

Bond,

144A,

4.875%,

9/23/32

2,150,000

1,751,894

13,706,774

Ecuador

7.3%

d

Ecuador

Government

Bond

,

Senior

Bond,

144A,

3.5%,

7/31/35

..

30,733,500

11,504,001

Senior

Note,

144A,

6%,

7/31/30

....

14,039,700

7,204,351

18,708,352

Egypt

8.3%

d

Egypt

Government

Bond

,

Senior

Bond,

144A,

7.6%,

3/01/29

..

7,270,000

4,693,875

Senior

Bond,

144A,

5.875%,

2/16/31

1,990,000

1,102,416

Senior

Bond,

144A,

7.625%,

5/29/32

1,080,000

625,236

Senior

Bond,

144A,

7.3%,

9/30/33

..

6,170,000

3,446,025

Senior

Bond,

144A,

8.5%,

1/31/47

..

8,950,000

4,802,838

Senior

Bond,

144A,

7.903%,

2/21/48

290,000

149,422

Senior

Bond,

144A,

8.7%,

3/01/49

..

540,000

291,074

Senior

Bond,

144A,

8.875%,

5/29/50

2,270,000

1,237,037

Senior

Bond,

144A,

8.75%,

9/30/51

.

7,950,000

4,297,897

Senior

Bond,

144A,

7.5%,

2/16/61

..

1,130,000

574,097

21,219,917

El

Salvador

0.7%

d

El

Salvador

Government

Bond,

Senior

Bond,

144A,

7.65%,

6/15/35

.......

2,650,000

1,883,003

Ethiopia

2.7%

d

Ethiopia

Government

Bond,

Senior

Bond,

144A,

6.625%,

12/11/24

.....

10,520,000

6,837,264

Gabon

1.1%

d

Gabon

Government

Bond,

Senior

Bond,

144A,

6.625%,

2/06/31

...........

3,650,000

2,723,813

Templeton

Emerging

Markets

Income

Fund

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

4

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Ghana

2.2%

e

Ghana

Government

Bond

,

PIK,

5%,

2/16/27

...............

16,197,701

GHS

$

869,232

PIK,

8.5%,

2/15/28

..............

16,209,650

GHS

766,877

PIK,

8.65%,

2/13/29

.............

15,743,851

GHS

663,710

PIK,

8.8%,

2/12/30

..............

15,755,447

GHS

599,029

PIK,

8.95%,

2/11/31

.............

14,759,407

GHS

525,719

PIK,

9.1%,

2/10/32

..............

14,770,262

GHS

500,038

PIK,

9.25%,

2/08/33

.............

14,781,118

GHS

481,600

PIK,

9.4%,

2/07/34

..............

8,078,877

GHS

256,030

PIK,

9.55%,

2/06/35

.............

8,084,806

GHS

251,403

PIK,

9.7%,

2/05/36

..............

8,090,734

GHS

248,621

PIK,

9.85%,

2/03/37

.............

8,096,663

GHS

247,271

PIK,

10%,

2/02/38

..............

8,102,592

GHS

247,033

5,656,563

Hungary

5.9%

Hungary

Government

Bond

,

3%,

6/26/24

...................

753,000,000

HUF

1,964,903

1%,

11/26/25

..................

2,010,100,000

HUF

4,726,950

3%,

10/27/27

..................

172,900,000

HUF

395,829

4.75%,

11/24/32

................

3,566,400,000

HUF

8,041,414

15,129,096

India

5.5%

India

Government

Bond,

7.26%,

1/14/29

1,177,000,000

INR

14,176,163

Indonesia

5.9%

Indonesia

Government

Bond

,

FR59,

7%,

5/15/27

..............

1,445,000,000

IDR

94,915

FR68,

8.375%,

3/15/34

..........

41,273,000,000

IDR

2,979,668

FR73,

8.75%,

5/15/31

...........

3,985,000,000

IDR

289,140

FR82,

7%,

9/15/30

..............

4,047,000,000

IDR

265,224

FR87,

6.5%,

2/15/31

............

6,848,000,000

IDR

435,095

FR91,

6.375%,

4/15/32

..........

19,224,000,000

IDR

1,214,626

FR96,

7%,

2/15/33

..............

150,696,000,000

IDR

9,833,121

15,111,789

Ivory

Coast

3.8%

d

Ivory

Coast

Government

Bond

,

Senior

Bond,

144A,

5.25%,

3/22/30

.

2,500,000

EUR

2,218,931

Senior

Bond,

144A,

5.875%,

10/17/31

4,000,000

EUR

3,502,081

Senior

Bond,

144A,

4.875%,

1/30/32

5,000,000

EUR

4,037,182

9,758,194

Malaysia

11.7%

Malaysia

Government

Bond

,

3.478%,

6/14/24

................

10,210,000

MYR

2,178,003

4.181%,

7/15/24

................

3,730,000

MYR

798,804

4.059%,

9/30/24

................

6,370,000

MYR

1,364,407

3.882%,

3/14/25

................

7,760,000

MYR

1,664,569

3.955%,

9/15/25

................

3,710,000

MYR

796,277

3.9%,

11/30/26

.................

4,970,000

MYR

1,066,980

3.502%,

5/31/27

................

1,660,000

MYR

350,873

3.899%,

11/16/27

...............

58,430,000

MYR

12,543,979

3.733%,

6/15/28

................

820,000

MYR

174,273

4.498%,

4/15/30

................

11,020,000

MYR

2,430,054

Templeton

Emerging

Markets

Income

Fund

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

5

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Malaysia

(continued)

Malaysia

Government

Bond,

(continued)

3.582%,

7/15/32

................

31,830,000

MYR

$

6,559,515

29,927,734

Mexico

8.0%

Mexican

Bonos

,

M,

10%,

11/20/36

...............

17,130,000

MXN

987,448

M,

Senior

Bond,

7.75%,

11/23/34

...

53,170,000

MXN

2,602,135

Mexican

Bonos

Desarr

Fixed

Rate

,

M,

7.5%,

5/26/33

...............

85,760,000

MXN

4,182,277

M,

Senior

Bond,

8.5%,

5/31/29

.....

8,900,000

MXN

477,818

M,

Senior

Bond,

8.5%,

11/18/38

....

31,390,000

MXN

1,588,522

M,

Senior

Bond,

7.75%,

11/13/42

...

67,590,000

MXN

3,125,478

Petroleos

Mexicanos

,

Senior

Note,

6.84%,

1/23/30

................

9,790,000

7,658,050

20,621,728

Mongolia

2.2%

d

Mongolia

Government

Bond

,

Senior

Bond,

144A,

4.45%,

7/07/31

.

5,570,000

4,307,003

Senior

Note,

144A,

5.125%,

4/07/26

.

200,000

187,021

Senior

Note,

144A,

3.5%,

7/07/27

..

1,380,000

1,162,152

5,656,176

Oman

6.1%

d

Oman

Government

Bond,

Senior

Bond,

144A,

4.75%,

6/15/26

............

15,970,000

15,508,866

Romania

2.4%

d

Romania

Government

Bond

,

144A,

1.75%,

7/13/30

............

950,000

EUR

762,314

144A,

2.75%,

4/14/41

............

1,420,000

EUR

885,916

144A,

2.875%,

4/13/42

...........

7,350,000

EUR

4,590,608

6,238,838

Seychelles

1.3%

d

Seychelles

International

Bond,

Senior

Bond,

Reg

S,

8%,

1/01/26

........

3,275,850

3,357,746

Sri

Lanka

0.5%

d,f

Sri

Lanka

Government

Bond

,

Senior

Bond,

144A,

6.2%,

5/11/27

..

2,420,000

1,130,236

Senior

Bond,

144A,

6.75%,

4/18/28

.

200,000

93,893

Senior

Bond,

144A,

7.85%,

3/14/29

.

291,000

136,622

1,360,751

Supranational

4.1%

h

Asian

Development

Bank,

Senior

Note,

11.75%,

7/24/24

................

43,233,000,000

COP

10,432,956

Thailand

5.3%

Thailand

Government

Bond

,

1%,

6/17/27

...................

478,560,000

THB

12,295,217

Senior

Note,

2.65%,

6/17/28

......

49,800,000

THB

1,350,492

13,645,709

Templeton

Emerging

Markets

Income

Fund

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

6

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Uzbekistan

3.4%

d

Uzbekistan

Government

Bond,

Senior

Note,

144A,

14%,

7/19/24

........

107,400,000,000

UZS

$

8,819,197

Zambia

2.6%

Zambia

Government

Bond,

14%,

11/23/27

.....................

182,000,000

ZMW

6,686,201

Total

Foreign

Government

and

Agency

Securities

(Cost

$315,823,606)

............

271,722,227

Shares

Escrows

and

Litigation

Trusts

0.0%

a,b

K2016470219

South

Africa

Ltd.,

Escrow

Account

......................

1,140,749

—

Total

Escrows

and

Litigation

Trusts

(Cost

$–)

...................................

—

Total

Long

Term

Investments

(Cost

$367,377,333)

...............................

285,623,896

Number

of

Contracts

Notional

Amount

#

a

a

aa

Options

Purchased

0.0%

†

Calls

-

Over-the-Counter

Currency

Options

Foreign

Exchange

USD/MXN,

Counterparty

BZWS,

November

Strike

Price

18.40

MXN,

Expires

11/01/23

.

1

14,696,000

55,979

55,979

Puts

-

Over-the-Counter

Currency

Options

Foreign

Exchange

USD/MXN,

Counterparty

BZWS,

February

Strike

Price

16.04

MXN,

Expires

2/01/24

..

1

7,348,000

7,332

7,332

Total

Options

Purchased

(Cost

$135,865)

......................................

63,311

Short

Term

Investments

4.1%

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

U.S.

Government

and

Agency

Securities

3.4%

United

States

3.4%

i

U.S.

Treasury

Bills,

10/05/23

........

8,700,000

8,696,183

Total

U.S.

Government

and

Agency

Securities

(Cost

$8,694,927)

..................

8,696,183

Templeton

Emerging

Markets

Income

Fund

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

7

Short

Term

Investments

(continued)

a

a

Industry

Shares

a

Value

a

a

a

a

a

a

Money

Market

Funds

0.7%

United

States

0.7%

j,k

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

5.019%

.........

1,906,122

$

1,906,122

Total

Money

Market

Funds

(Cost

$1,906,122)

...................................

1,906,122

a

a

a

a

a

Total

Short

Term

Investments

(Cost

$10,601,049

)

................................

10,602,305

a

a

a

Total

Investments

(Cost

$378,114,247)

115.5%

..................................

$296,289,512

Options

Written

(0.0)%

†

......................................................

(76,357)

Credit

Facility

(19.5)%

........................................................

(50,000,000)

Other

Assets,

less

Liabilities

4.0%

.............................................

10,203,420

Net

Assets

100.0%

...........................................................

$256,416,575

a

a

a

a

Number

of

Contracts

Notional

Amount

#

Options

Written

(0.0)%

†

a

Puts

-

Over-the-Counter

a

Currency

Options

Foreign

Exchange

USD/MXN,

Counterparty

BZWS,

February

Strike

Price

16.76

MXN,

Expires

2/01/24

..

1

14,696,000

(76,357)

(76,357)

Total

Options

Written

(Premiums

received

$155,043)

............................

$

(76,357)

#

Notional

amount

is

the

number

of

contracts

multiplied

by

contract

size,

and

may

be

multiplied

by

the

underlying

price.

May

include

currency

units,

bushels,

shares,

pounds,

barrels

or

other

units.

Currency

units

are

stated

in

U.S.

dollars

unless

otherwise

indicated.

*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

†

Rounds

to

less

than

0.1%

of

net

assets.

a

Fair

valued

using

significant

unobservable

inputs.

See

Note

5

regarding

fair

value

measurements.

b

Non-income

producing.

c

See

Note

3

regarding

restricted

securities.

d

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

September

30,

2023,

the

aggregate

value

of

these

securities

was

$115,909,748,

representing

45.2%

of

net

assets.

e

Income

may

be

received

in

additional

securities

and/or

cash.

f

Defaulted

security

or

security

for

which

income

has

been

deemed

uncollectible.

g

Perpetual

security

with

no

stated

maturity

date.

h

A

supranational

organization

is

an

entity

formed

by

two

or

more

central

governments

through

international

treaties.

i

The

security

was

issued

on

a

discount

basis

with

no

stated

coupon

rate.

j

See

Note

4

regarding

investments

in

affiliated

management

investment

companies.

k

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

Templeton

Emerging

Markets

Income

Fund

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

8

At

September

30,

2023,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

At

September

30,

2023,

the

Fund

had

the

following interest

rate swap

contracts

outstanding.

Forward

Exchange

Contracts

Currency

Counter-

party

a

Type

Quantity

Contract

Amount

*

Settlement

Date

Unrealized

Appreciation

Unrealized

Depreciation

a

a

a

a

a

a

a

a

OTC

Forward

Exchange

Contracts

Brazilian

Real

......

JPHQ

Buy

15,260,000

3,122,059

10/03/23

$

—

$

(86,270)

Brazilian

Real

......

JPHQ

Sell

15,260,000

3,017,301

10/03/23

—

(18,488)

Brazilian

Real

......

MSCO

Buy

44,800,000

9,158,370

10/03/23

—

(245,963)

Brazilian

Real

......

MSCO

Sell

44,800,000

8,859,008

10/03/23

—

(53,400)

Indian

Rupee

......

HSBK

Buy

1,382,976,200

16,804,085

10/05/23

—

(151,706)

Indian

Rupee

......

HSBK

Sell

1,382,976,200

16,646,319

10/05/23

—

(6,060)

Columbian

Peso

....

GSCO

Buy

31,120,000,000

6,123,875

10/12/23

1,483,472

—

Columbian

Peso

....

MSCO

Buy

45,760,000,000

9,838,110

10/12/23

1,348,014

—

Chilean

Peso

......

MSCO

Buy

5,214,270,000

6,022,140

10/16/23

—

(171,218)

Chilean

Peso

......

MSCO

Sell

5,214,270,000

5,854,783

10/16/23

3,861

—

Peruvian

Nuevo

Sol

.

JPHQ

Buy

6,695,600

1,805,523

11/02/23

—

(39,689)

Peruvian

Nuevo

Sol

.

JPHQ

Sell

6,695,600

1,794,105

11/02/23

28,271

—

Uruguayan

Peso

....

HSBK

Buy

565,240,000

14,777,903

11/06/23

—

(108,324)

Columbian

Peso

....

JPHQ

Buy

20,699,500,000

5,096,516

11/14/23

—

(80,903)

Chilean

Peso

......

GSCO

Buy

2,199,502,857

2,507,985

11/16/23

—

(41,084)

Chilean

Peso

......

GSCO

Sell

2,199,502,857

2,460,432

11/16/23

—

(6,469)

Brazilian

Real

......

JPHQ

Buy

15,260,000

2,993,272

12/04/23

17,784

—

Brazilian

Real

......

MSCO

Buy

44,800,000

8,789,139

12/04/23

50,658

—

South

Korean

Won

..

DBAB

Buy

17,292,000,000

13,101,191

12/20/23

—

(262,244)

South

Korean

Won

..

HSBK

Buy

526,000,000

398,274

12/20/23

—

(7,730)

Thai

Baht

.........

DBAB

Buy

465,792,000

13,148,765

12/20/23

—

(323,880)

Indian

Rupee

......

HSBK

Buy

1,382,976,200

16,574,102

1/08/24

—

(14,834)

Indian

Rupee

......

HSBK

Buy

356,808,577

4,279,922

2/12/24

—

(17,027)

Indian

Rupee

......

CITI

Buy

837,760,460

10,019,860

3/20/24

—

(34,236)

Total

Forward

Exchange

Contracts

...................................................

$2,932,060

$(1,669,525)

Net

unrealized

appreciation

(depreciation)

............................................

$1,262,534

*

In

U.S.

dollars

unless

otherwise

indicated.

a

May

be

comprised

of

multiple

contracts

with

the

same

counterparty,

currency

and

settlement

date.

Interest

Rate

Swap

Contracts

Description

Payment

Frequency

Counter-

party

Maturity

Date

Notional

Amount

*

Value

Upfront

Payments

(Receipts)

Unrealized

Appreciation

(Depreciation)

aa

aa

aa

aa

Centrally

Cleared

Swap

Contracts

Receive

Fixed

7.565%

.

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/02/25

8,093,521

BRL

$

(213,035)

$

—

$

(213,035)

Receive

Fixed

7.62%

..

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/02/25

7,983,000

BRL

(205,996)

—

(205,996)

Receive

Fixed

7.625%

.

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/02/25

9,180,972

BRL

(237,669)

—

(237,669)

Templeton

Emerging

Markets

Income

Fund

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

9

See

Abbreviations

on

page

14.

Interest

Rate

Swap

Contracts

(continued)

Description

Payment

Frequency

Counter-

party

Maturity

Date

Notional

Amount*

Value

Upfront

Payments

(Receipts)

Unrealized

Appreciation

(Depreciation)

aa

aa

aa

aa

Centrally

Cleared

Swap

Contracts

(continued)

Receive

Fixed

8.19%

..

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/04/27

900,000

BRL

$

(29,102)

$

—

$

(29,102)

Receive

Fixed

8.675%

.

Quarterly

Pay

Floating

1-day

Map

new

entry

.........

Quarterly

9/25/28

COP

(381,435)

—

(381,435)

Receive

Fixed

8.37%

..

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/02/29

1,443,981

BRL

(65,011)

—

(65,011)

Receive

Fixed

8.405%

.

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/02/29

2,006,000

BRL

(89,122)

—

(89,122)

Receive

Fixed

8.45%

..

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/02/29

1,795,371

BRL

(78,648)

—

(78,648)

Receive

Fixed

8.485%

.

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/02/29

955,784

BRL

(41,426)

—

(41,426)

Total

Interest

Rate

Swap

Contracts

...............................

$(1,341,444)

$

—

$(1,341,444)

*

In

U.S.

dollars

unless

otherwise

indicated.

Templeton

Emerging

Markets

Income

Fund

Notes

to

Schedule

of

Investments

(unaudited)

10

Quarterly

Schedule

of

Investments

1.

Organization

Templeton

Emerging

Markets

Income

Fund (Fund)

is

registered

under

the

Investment

Company

Act

of

1940

(1940

Act)

as

a

closed-end

management

investment

company.

The

Fund

follows

the

accounting

and

reporting

guidance

in

Financial

Accounting

Standards

Board

(FASB)

Accounting

Standards

Codification

Topic

946,

Financial

Services

–

Investment

Companies

(ASC

946)

and

applies

the

specialized

accounting

and

reporting

guidance

in

U.S.

Generally

Accepted

Accounting

Principles

(U.S.

GAAP),

including,

but

not

limited

to,

ASC

946. 

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

Board

has

designated

the

Fund’s

investment

manager

as

the

valuation

designee

and

has

responsibility

for

oversight

of

valuation.

The

investment

manager

is

assisted

by

the

Fund’s

administrator

in

performing

this

responsibility,

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. 

Debt

securities

generally

trade

in

the

OTC

market

rather

than

on

a

securities

exchange.

The Fund's

pricing

services

use

multiple

valuation

techniques

to

determine

fair

value.

In

instances

where

sufficient

market

activity

exists,

the

pricing

services

may

utilize

a

market-based

approach

through

which

quotes

from

market

makers

are

used

to

determine

fair

value.

In

instances

where

sufficient

market

activity

may

not

exist

or

is

limited,

the

pricing

services

also

utilize

proprietary

valuation

models

which

may

consider

market

characteristics

such

as

benchmark

yield

curves,

credit

spreads,

estimated

default

rates,

anticipated

market

interest

rate

volatility,

coupon

rates,

anticipated

timing

of

principal

repayments,

underlying

collateral,

and

other

unique

security

features

in

order

to

estimate

the

relevant

cash

flows,

which

are

then

discounted

to

calculate

the

fair

value.

Securities

denominated

in

a

foreign

currency

are

converted

into

their

U.S.

dollar

equivalent

at

the

foreign

exchange

rate

in

effect

at

4

p.m.

Eastern

time

on

the

date

that

the

values

of

the

foreign

debt

securities

are

determined. 

Investments

in

open-end

mutual

funds

are

valued

at

the

closing

NAV.

Certain

derivative

financial

instruments

are

centrally

cleared

or

trade

in

the

OTC

market.

The Fund’s

pricing

services

use

various

techniques

including

industry

standard

option

pricing

models

and

proprietary

discounted

cash

flow

models

to

determine

the

fair

value

of

those

instruments.

The Fund’s

net

benefit

or

obligation

under

the

derivative

contract,

as

measured

by

the

fair

value

of

the

contract,

is

included

in

net

assets. 

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,

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

Templeton

Emerging

Markets

Income

Fund

Notes

to

Schedule

of

Investments

(unaudited)

11

Quarterly

Schedule

of

Investments

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 September

30,

2023,

certain

securities

may

have

been

fair

valued

using

these

procedures,

in

which

case

the

securities

were

categorized

as

Level

2

within

the

fair

value

hierarchy

(referred

to

as

"market

level

fair

value").

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.

3.

Restricted

Securities

At

September

3

0

,

202

3

,

investments

in

restricted

securities,

excluding

securities

exempt

from

registration

under

the

Securities

Act

of

1933,

were

as

follows:

4.

Investments

in

Affiliated

Management

Investment

Companies 

The

Fund

invests

in

one

or

more

affiliated

management

investment

companies.

As

defined

in

the

1940

Act,

an

investment

is

deemed

to

be

a

“Controlled

Affiliate”

of

a

fund

when

a

fund

owns,

either

directly

or

indirectly,

25%

or

more

of

the

affiliated

fund’s

outstanding

shares

or

has

the

power

to

exercise

control

over

management

or

policies

of

such

fund.

The

Fund

does

not

invest for

purposes

of

exercising

a

controlling

influence

over

the

management

or

policies.

During

the

period

ended

September

30,

2023,

the

Fund

held

investments

in

affiliated

management

investment

companies

as

follows: 

Principal

Amount

*

/

Shares

Issuer

Acquisition

Date

Cost

Value

Templeton

Emerging

Markets

Income

Fund

93,760,463

a

K2016470219

South

Africa

Ltd.,

A

...............

5/10/11

-

2/01/17

$

538,947

$

—

161,018,517

a

K2016470219

South

Africa

Ltd.,

B

...............

5/10/11

-

2/01/17

119,550

—

11,149,920

Reventazon

Finance

Trust,

Senior

Secured

Bond,

144A,

8%,

11/15/33

..............................

12/18/13

11,149,920

10,564,431

Total

Restricted

Securities

(Value

is

4.1%

of

Net

Assets)

..............

$11,808,417

$10,564,431

*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

a

The

Fund

also

invests

in

unrestricted

securities

of

the

issuer,

valued

at

$0

as

of

September

30,

2023.

2. Financial

Instrument

Valuation

(continued)

Templeton

Emerging

Markets

Income

Fund

Notes

to

Schedule

of

Investments

(unaudited)

12

Quarterly

Schedule

of

Investments

5. 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

September

30,

2023,

in

valuing

the

Fund's

assets

and

liabilities

carried

at

fair

value,

is

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

Income

Fund

Non-Controlled

Affiliates

Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

5.019%

$6,444,170

$140,173,800

$(144,711,848)

$—

$—

$1,906,122

1,906,122

$392,261

Total

Affiliated

Securities

...

$6,444,170

$140,173,800

$(144,711,848)

$—

$—

$1,906,122

$392,261

Level

1

Level

2

Level

3

Total

Templeton

Emerging

Markets

Income

Fund

Assets:

Investments

in

Securities:

Common

Stocks

:

South

Africa

...........................

$

3,261,751

$

—

$

—

a

$

3,261,751

Convertible

Bonds

.......................

—

14,255

—

14,255

Corporate

Bonds

:

Bermuda

.............................

—

61,232

—

61,232

Costa

Rica

............................

—

—

10,564,431

10,564,431

South

Africa

...........................

—

—

—

a

—

Foreign

Government

and

Agency

Securities

....

—

271,722,227

—

271,722,227

Escrows

and

Litigation

Trusts

...............

—

—

—

a

—

Options

purchased

.......................

—

63,311

—

63,311

Short

Term

Investments

...................

1,906,122

8,696,183

—

10,602,305

Total

Investments

in

Securities

...........

$5,167,873

$280,557,208

$10,564,431

$296,289,512

Other

Financial

Instruments:

Forward

exchange

contracts

...............

$

—

$

2,932,060

$

—

$

2,932,060

Total

Other

Financial

Instruments

.........

$—

$2,932,060

$—

$2,932,060

4.

Investments

in

Affiliated

Management

Investment

Companies 

(continued)

Templeton

Emerging

Markets

Income

Fund

Notes

to

Schedule

of

Investments

(unaudited)

13

Quarterly

Schedule

of

Investments

A

reconciliation

in

which

Level

3

inputs

are

used

in

determining

fair

value

is

presented

when

there

are

significant

Level

3

assets

and/or

liabilities

at

the

beginning

and/or

end

of

the

period.

At

September

30,

2023,

the

reconciliation

is

as

follows:

Significant

unobservable

valuation

inputs

for

material

Level

3

assets

and/or

liabilities

and

impact

to

fair

value

as

a

result

of

changes

in

unobservable

valuation

inputs

as

of

September

30,

2023,

are

as

follows:

Level

1

Level

2

Level

3

Total

Templeton

Emerging

Markets

Income

Fund

(continued)

Liabilities:

Other

Financial

Instruments:

Options

written

..........................

$

—

$

76,357

$

—

$

76,357

Forward

exchange

contracts

................

—

1,669,525

—

1,669,525

Swap

contracts

..........................

—

1,341,444

—

1,341,444

Total

Other

Financial

Instruments

.........

$—

$3,087,326

$—

$3,087,326

a

Includes

financial

instruments

determined

to

have

no

value

at

September

30,

2023.

Balance

at

Beginning

of

Period

Purchases

Sales

a

Transfer

Into

Level

3

Transfer

Out

of

Level

3

Net

Accretion

(Amortiza-

tion)

Net

Realized

Gain

(Loss)

Net

Unr

ealized

Appreciation

(Depreciation)

Balance

at

End

of

Period

Net

Change

in

Unrealized

Appreciation

(Depreciation)

on

Assets

Held

at

Period

End

a

a

a

a

a

a

a

a

a

a

a

Templeton

Emerging

Markets

Income

Fund

Assets:

Investments

in

Securities:

Common

Stocks

:

South

Africa

..

$

—

b

$

—

$

—

$

—

$

—

$

—

$

—

$

—

$

—

b

$

—

Corporate

Bonds

:

Costa

Rica

...

10,811,793

—

(319,680)

—

—

—

—

72,318

10,564,431

53,984

South

Africa

..

—

b

—

—

—

—

—

—

—

—

b

—

Escrows

and

Litigation

Trusts

—

b

—

—

—

—

—

—

—

—

b

—

Total

Investments

in

Securities

.......

$10,811,793

$—

$(319,680)

$—

$—

$—

$—

$72,318

$10,564,431

$53,984

a

Sales

include

all

sales

of

securities,

maturities,

paydowns

and

securities

tendered

in

corporate

actions.

b

Includes

financial

instruments

determined

to

have

no

value.

Description

Fair

Value

at

End

of

Period

Valuation

Technique

Unobservable

Inputs

Amount

Impact

to

Fair

Value

if

Input

Increases

a

Templeton

Emerging

Markets

Income

Fund

Assets:

Investments

in

Securities:

Corporate

Bonds:

Costa

Rica

.....

$10,564,431

Discounted

cash

flow

Discount

rate

b

9.3%

Decrease

All

Other

...........

—

c

Total

..................

$10,564,431

5. Fair

Value

Measurements 

(continued)

Templeton

Emerging

Markets

Income

Fund

Notes

to

Schedule

of

Investments

(unaudited)

14

Quarterly

Schedule

of

Investments

Abbreviations

a

Represents

the

directional

change

in

the

fair

value

of

the

Level

3

financial

instruments

that

would

result

from

a

significant

and

reasonable

increase

in

the

corresponding

input.

A

significant

and

reasonable

decrease

in

the

input

would

have

the

opposite

effect.

Significant

increases

and

decreases

in

these

inputs

in

isolation

could

result

in

significantly

higher

or

lower

fair

value

measurements.

b

The

discount

rate

is

comprised

of

the

risk-free

rate,

the

10-year

Costa

Rican

CDS

spread,

and

an

incremental

issuer

credit

spread

combined

to

arrive

at

an

8%

yield

on

issue

date

for

an

8%

coupon

bond

issued

at

par.

The

incremental

issuer

spread

is

further

adjusted

to

reflect

the

current

market

spread

for

similar

credits

above

the

Costa

Rican

credit

spread.

c

Includes

financial

instruments

determined

to

have

no

value

at

September

30,

2023.

Counterparty

BZWS

Barclays

Bank

plc

CITI

Citibank

NA

DBAB

Deutsche

Bank

AG

GSCO

Goldman

Sachs

Group,

Inc.

HSBK

HSBC

Bank

plc

JPHQ

JPMorgan

Chase

Bank

NA

MSCO

Morgan

Stanley

Selected

Portfolio

CDI

certificado

de

deposito

interbancário

PIK

Payment-In-Kind

Cu

r

rency

BRL

Brazilian

Real

COP

Colombian

Peso

EUR

Euro

GHS

Ghanaian

Cedi

HUF

Hungarian

Forint

IDR

Indonesian

Rupiah

INR

Indian

Rupee

MXN

Mexican

Peso

MYR

Malaysian

Ringgit

THB

Thai

Baht

USD

United

States

Dollar

UZS

Uzbekistani

Som

ZMW

Zambian

Kwacha

5. Fair

Value

Measurements 

(continued)

For

additional

information

on

the

Fund's

significant

accounting

policies,

please

refer

to

the Fund's

most

recent

semiannual

or

annual

shareholder

report.