BEGIN COVER PAGE
13F-HR FOR PERIOD ENDING JUN 30 1999
TALON ASSET MANAGEMENT
ONE NORTH FRANKLIN SUITE 450
CHICAGO ILL 60606
ALAN R WILSON
SIGNATURE
ALAN R WILSON
PRESIDENT
312-422-5410
13F FILE NUMBER 28-5548
END COVER PAGE
BEGIN SUMMARY PAGE
NO OTHER MANAGERS BEING REPORTED
ENTRY TOTAL 114
VALUE TOTAL 328556
END SUMMARY PAGE
<TABLE>
FORM 13F
INFORMATION TABLE
VALUE SHARES/ SH/
PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN
CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- ---
- ---- ------- ------------ -------- -------- --------
<S> <C> <C> <C> <C> <C>
<C> <C> <C> <C> <C> <C>
A.M. Castle COM 148411101 850 50000.00 SH
DEFINED 01 50000.00
AFLAC, Inc. COM 001055102 241 5026.00 SH
DEFINED 01 5026.00
Abbott Labs COM 002824100 2686 59191.00 SH
DEFINED 01 59191.00
Alberto Culver Cls A COM 013068200 936 41140.00 SH
DEFINED 01 41140.00
Ambac Financial Group COM 023139108 1978 34634.00 SH
DEFINED 01 34634.00
American Int'l Group COM 026874107 3899 33250.00 SH
DEFINED 01 33250.00
American Power Conversion Corp COM 029066107 11137 553400.00SH
DEFINED 01 553400.00
Ameritech Corporation COM 030954101 894 12163.00 SH
DEFINED 01 12163.00
Amli Residential Properties Tr COM 001735109 2292 102438.00SH
DEFINED 01 102438.00
Andrew Corp COM 034425108 464 24500.00 SH
DEFINED 01 24500.00
Aon Corp COM 037389103 636 15425.00 SH
DEFINED 01 15425.00
BPA Amoco PLC - Sponsored ADR COM 055622104 302 2783.00 SH
DEFINED 01 2783.00
Baldwin & Lyons - Class A COM 057755100 787 35550.00 SH
DEFINED 01 35550.00
Bank Amer Corp COM 060505104 1255 17112.00 SH
DEFINED 01 17112.00
Baxter International COM 071813109 1160 19126.00 SH
DEFINED 01 19126.00
Berkshire Hathaway - Class A COM 084670108 345 5.00 SH
DEFINED 01 5.00
Bristol-Myers Squibb COM 110122108 359 5100.00 SH
DEFINED 01 5100.00
CNF Transportation COM 12612w104 2799 72700.00 SH
DEFINED 01 72700.00
CVS Corp COM 585745102 332 6540.00 SH
DEFINED 01 6540.00
Capital Southwest COM 140501107 622 7772.00 SH
DEFINED 01 7772.00
Capital Trust - MD Class A COM 14052H100 763 169660.00SH
DEFINED 01 169660.00
Carnival Corp. COM 143658102 4553 93872.00 SH
DEFINED 01 93872.00
Catalina Marketing COM 148867104 1183 12855.00 SH
DEFINED 01 12855.00
Champion Enterprises COM 158496109 2971 159500.00SH
DEFINED 01 159500.00
Comdisco, Inc. COM 200336105 461 18000.00 SH
DEFINED 01 18000.00
Commercial Metals Company COM 201723103 401 14059.00 SH
DEFINED 01 14059.00
Compaq Computer Corp COM 204493100 4825 203688.00SH
DEFINED 01 203688.00
Consolidated Delivery & Logist COM 209029107 257 73500.00 SH
DEFINED 01 73500.00
Consolidated Edison Co. of New COM 209115104 226 5000.00 SH
DEFINED 01 5000.00
Corning, Inc. COM 219350105 10554 150496.00SH
DEFINED 01 150496.00
Danielson Holding COM 236274106 1525 265300.00SH
DEFINED 01 265300.00
Dean Foods Company COM 242361103 2909 70000.00 SH
DEFINED 01 70000.00
Diamond Home Services, Inc. COM 252648100 3148 740800.00SH
DEFINED 01 740800.00
Diebold Inc. COM 253651103 460 16000.00 SH
DEFINED 01 16000.00
Disney, Walt COM 254687106 1408 45695.00 SH
DEFINED 01 45695.00
Donnelley, R.R., & Sons COM 257867101 9047 244114.00SH
DEFINED 01 244114.00
Dynamex COM 26784F103 1599 556300.00SH
DEFINED 01 556300.00
EIS International COM 268539103 1581 550000.00SH
DEFINED 01 550000.00
Elan Corp COM 284131208 9614 346458.00SH
DEFINED 01 346458.00
Electro Scientific Industries COM 285229100 3886 93000.00 SH
DEFINED 01 93000.00
Exxon COM 302290101 690 8948.00 SH
DEFINED 01 8948.00
FPL Group COM 302571104 219 4000.00 SH
DEFINED 01 4000.00
Federal National Mortgage Corp COM 313586109 678 9936.00 SH
DEFINED 01 9936.00
Ford Motor COM 345370100 226 4000.00 SH
DEFINED 01 4000.00
General Electric COM 369604103 5571 49305.00 SH
DEFINED 01 49305.00
Gillette Company COM 375766102 345 8426.00 SH
DEFINED 01 8426.00
HCR Manor Care, Inc. COM 421937103 7526 311143.00SH
DEFINED 01 311143.00
Health Care Property Investors COM 421915109 989 34244.00 SH
DEFINED 01 34244.00
Helmerich & Payne COM 423452101 9895 418841.00SH
DEFINED 01 418841.00
Home Depot, Inc. COM 437076102 387 6000.00 SH
DEFINED 01 6000.00
IMS Health, Inc. COM 449934108 281 9000.00 SH
DEFINED 01 9000.00
Illinois Tool Works COM 452308109 806 9854.00 SH
DEFINED 01 9854.00
Int'l Business Machines COM 459200101 7686 59470.00 SH
DEFINED 01 59470.00
Liberty Media Group - Class A COM 87924v507 14233 387306.00SH
DEFINED 01 387306.00
Loral Space Communications COM g56462107 720 40000.00 SH
DEFINED 01 40000.00
MCI WorldCom, Inc. COM 55268b106 8414 97768.00 SH
DEFINED 01 97768.00
Mallon Resources COM 561240201 1110 160000.00SH
DEFINED 01 160000.00
Manpower, Inc. COM 56418h100 5251 232100.00SH
DEFINED 01 232100.00
McKesson HBOC COM 581557105 5271 163750.00SH
DEFINED 01 163750.00
MediaOne Group, Inc. COM 58440j104 223 3000.00 SH
DEFINED 01 3000.00
Mellon Bank Corp COM 585509102 5345 146954.00SH
DEFINED 01 146954.00
Mentor Graphics COM 587200106 820 64000.00 SH
DEFINED 01 64000.00
Merck & Co. COM 589331107 772 10490.00 SH
DEFINED 01 10490.00
Microsoft COM 594918104 1512 16770.00 SH
DEFINED 01 16770.00
Miller Industries COM 600551105 323 82000.00 SH
DEFINED 01 82000.00
Minnesota Mining & Manufacturi COM 604059105 557 6410.00 SH
DEFINED 01 6410.00
Molex, Inc. COM 608554101 299 8074.00 SH
DEFINED 01 8074.00
Molex, Inc. - Class A COM 608554200 2311 73361.00 SH
DEFINED 01 73361.00
Motorola COM 620076109 900 9500.00 SH
DEFINED 01 9500.00
Mylan Labs, Inc. COM 628530107 13593 512944.00SH
DEFINED 01 512944.00
Newbridge Networks COM 650901101 10906 379350.00SH
DEFINED 01 379350.00
North American Vaccine COM 657201109 1406 288500.00SH
DEFINED 01 288500.00
Northern Trust Corp COM 665859104 409 4220.00 SH
DEFINED 01 4220.00
Nutraceutical Int'l COM 67060Y101 1589 310000.00SH
DEFINED 01 310000.00
Pfizer, Inc. COM 717081103 500 4590.00 SH
DEFINED 01 4590.00
ProLogis COM 743410102 1791 88461.00 SH
DEFINED 01 88461.00
Protocol Systems, Inc. COM 74371r106 2606 300000.00SH
DEFINED 01 300000.00
Robotic Vision Systems, Inc. COM 771074101 3687 983243.00SH
DEFINED 01 983243.00
Rocky Mountain Chocolate Facto COM 774678403 468 78000.00 SH
DEFINED 01 78000.00
Royal Caribbean Cruises COM v7780t103 5517 126100.00SH
DEFINED 01 126100.00
Rural Metro COM 781748108 2839 295000.00SH
DEFINED 01 295000.00
Ryerson Tull, Inc. COM 78375p107 6654 294908.00SH
DEFINED 01 294908.00
SBC Communications, Inc. COM 78387G103 5362 92454.00 SH
DEFINED 01 92454.00
Saks, Inc. COM 79377w108 8818 305400.00SH
DEFINED 01 305400.00
Sara Lee COM 803111103 1581 69700.00 SH
DEFINED 01 69700.00
Sensormatic Electronics COM 817265101 9812 704000.00SH
DEFINED 01 704000.00
Sigma Aldrich COM 826552101 344 10000.00 SH
DEFINED 01 10000.00
Solectron Corp COM 834182107 4761 71400.00 SH
DEFINED 01 71400.00
Southernera Resources Ltd COM 843901109 50 15000.00 SH
DEFINED 01 15000.00
St. Paul Bancorp COM 792848103 688 26975.00 SH
DEFINED 01 26975.00
Starbucks Corp COM 855244109 5238 139455.00SH
DEFINED 01 139455.00
Sterling Commerce COM 859205106 5811 158131.00SH
DEFINED 01 158131.00
Sybron International Corp COM 87114F106 2184 79234.00 SH
DEFINED 01 79234.00
Tellabs, Inc. COM 879664100 338 5000.00 SH
DEFINED 01 5000.00
Tenet Healthcare COM 88033G100 4091 220413.00SH
DEFINED 01 220413.00
Teva Pharmaceutical COM 881624209 7635 155809.00SH
DEFINED 01 155809.00
Thomas & Betts COM 884315102 10869 230029.00SH
DEFINED 01 230029.00
Times Mirror Company COM 887364107 247 4162.00 SH
DEFINED 01 4162.00
Travelers Prop Casualty A COM 893939108 352 9000.00 SH
DEFINED 01 9000.00
True North Communications COM 897844106 11677 392500.00SH
DEFINED 01 392500.00
Tyler Technologies Inc. COM 902252105 1463 225000.00SH
DEFINED 01 225000.00
Viacom - Class B COM 925524308 9266 210593.00SH
DEFINED 01 210593.00
Wal-Mart Stores COM 931142103 2983 61830.00 SH
DEFINED 01 61830.00
Walgreen COM 931422109 1248 42500.00 SH
DEFINED 01 42500.00
Wallace Computer Services COM 932270101 625 25000.00 SH
DEFINED 01 25000.00
Zebra Technologies COM 989207105 442 11500.00 SH
DEFINED 01 11500.00
Accuhealth, Inc. RET EQ 004380101 8 12000.00 SH
DEFINED 01 12000.00
Acorn Investment Trust - Commo RET EQ 004851101 287 15460.26 SH
DEFINED 01 15460.26
Banc One Corp RET EQ 06423a103 948 15916.00 SH
DEFINED 01 15916.00
Dynamex, Inc. RET EQ 26784F103 129 44960.00 SH
DEFINED 01 44960.00
Microsoft RET EQ 594918104 253 2800.00 SH
DEFINED 01 2800.00
Tomahawk Corporation RET EQ 88978c106 11 85080.00 SH
DEFINED 01 85080.00
U.S. Realtel {RESTRICTED} RET EQ 902979103 358 32500.00 SH
DEFINED 01 32500.00
Boston Chicken, Inc. (DEFAULT CNV 100578ac7 2 45000 PRN
DEFINED 01 45000
S REPORT SUMMARY 114 DATA RECORDS 328556 1 OTHER MANAGERS ON
WHOSE BEHALF REPORT IS FILED
</TABLE>
