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.
Abbreviations
Level
1
Level
2
Level
3
Total
Templeton
Emerging
Markets
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Brazil
................................
$
5,328,121
$
—
$
—
$
5,328,121
Cambodia
............................
—
358,836
—
358,836
Chile
................................
2,018,391
—
—
2,018,391
China
...............................
3,526,353
45,993,529
—
49,519,882
Hong
Kong
...........................
—
4,293,819
—
4,293,819
Hungary
.............................
2,503,972
—
—
2,503,972
India
................................
—
26,465,144
—
26,465,144
Indonesia
............................
—
1,539,706
—
1,539,706
Italy
.................................
—
996,637
—
996,637
Mexico
..............................
4,578,531
—
—
4,578,531
Peru
................................
899,542
—
—
899,542
Philippines
............................
—
622,066
—
622,066
Russia
...............................
—
—
—
a
—
South
Africa
...........................
1,507,575
—
—
1,507,575
South
Korea
..........................
—
43,423,352
—
43,423,352
Taiwan
...............................
—
32,931,638
—
32,931,638
Thailand
.............................
—
4,972,463
—
4,972,463
United
Arab
Emirates
....................
1,017,387
—
—
1,017,387
United
Kingdom
........................
—
2,447,308
—
2,447,308
United
States
..........................
6,935,926
—
—
6,935,926
Preferred
Stocks
........................
15,663,299
—
—
15,663,299
Escrows
and
Litigation
Trusts
...............
—
—
—
b
—
Short
Term
Investments
...................
10,306,805
—
—
10,306,805
Total
Investments
in
Securities
...........
$54,285,902
$164,044,498
c
$—
$218,330,400
a
The
Valuation
Committee
determined
that
based
on
their
analysis
of
the
market
and
access
to
market
participants,
the
Russian
financial
instruments
held
by
the
Fund
had
little
or
no
value
at November
30,
2023.
b
Includes
financial
instruments
determined
to
have
no
value.
c
Includes
foreign
securities
valued
at
$164,044,498,
which
were
categorized
as
Level
2
as
a
result
of
the
application
of
market
level
fair
value
procedures.
See
the
Financial
Instrument
Valuation
note
for
more
information.
Selected
Portfolio
ADR
American
Depositary
Receipt