BEGIN COVER PAGE
13F-HR FOR PERIOD ENDING DEC 31 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 128 VALUE TOTAL 332486
END SUMMARY PAGE
<TABLE>
VALUE SHARES/
SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT
PRN CALL DSCRETN -MANAGERS-
SOLE SHARED NONE
<C>
<C>
D A.M. Castle COM 148411101 550 50000.00
SH DEFINED 01 50000.00
D ACNielsen Corp. COM 004833109 6824
325900.00SH DEFINED 01 325900.00
D AFLAC, Inc. COM 001055102 478 11178.92
SH DEFINED 01 11178.92
D Abbott Labs COM 002824100 1900 56191.00
SH DEFINED 01 56191.00
D Alberto Culver Cls A COM 013068200 1732 82240.00
SH DEFINED 01 82240.00
D Ambac Financial Group COM 023139108 1088 23400.00
SH DEFINED 01 23400.00
D American Int'l Group COM 026874107 3948 40439.00
SH DEFINED 01 40439.00
D American Power Conversion Corp COM 029066107 14179
444840.00SH DEFINED 01 444840.00
D Amli Residential Properties Tr COM 001735109 415 18988.00
SH DEFINED 01 18988.00
D Andrew Corp COM 034425108 1476 61500.00
SH DEFINED 01 61500.00
D BPA Amoco PLC - Sponsored ADR COM 055622104 224 4618.00
SH DEFINED 01 4618.00
D Baldwin & Lyons - Class A COM 057755100 747 35550.00
SH DEFINED 01 35550.00
D Bank Amer Corp COM 060505104 823 18166.66
SH DEFINED 01 18166.66
D Baxter International COM 071813109 953 15106.00
SH DEFINED 01 15106.00
D Berkshire Hathaway - Class A COM 084670108 258 5.00
SH DEFINED 01 5.00
D Boise Office Products COM 097403109 334 22000.00
SH DEFINED 01 22000.00
D Borders Group Inc. COM 099709107 1533
110000.00SH DEFINED 01 110000.00
D Bristol-Myers Squibb COM 110122108 308 4800.00
SH DEFINED 01 4800.00
D CNF Transportation COM 12612w104 11315
365008.56SH DEFINED 01 365008.56
D CVS Corp COM 585745102 6966
191190.00SH DEFINED 01 191190.00
D Capital Southwest COM 140501107 460 7772.00
SH DEFINED 01 7772.00
D Capital Trust - MD Class A COM 14052H100 685
163500.00SH DEFINED 01 163500.00
D Carnival Corp. COM 143658102 3665 85100.00
SH DEFINED 01 85100.00
D Catalina Marketing COM 148867104 323 3200.00
SH DEFINED 01 3200.00
D Celestica COM 15101q108 410 8000.00
SH DEFINED 01 8000.00
D Champion Enterprises COM 158496109 652 82100.00
SH DEFINED 01 82100.00
D Cintas Corp COM 172908105 680 15000.00
SH DEFINED 01 15000.00
D Coca Cola COM 191216100 313 5500.33
SH DEFINED 01 5500.33
D Comdisco, Inc. COM 200336105 1124 31000.00
SH DEFINED 01 31000.00
D Commercial Metals Company COM 201723103 445 14059.00
SH DEFINED 01 14059.00
D Compaq Computer Corp COM 204493100 3629
134422.00SH DEFINED 01 134422.00
D Consolidated Delivery & Logist COM 209029107 135 42200.00
SH DEFINED 01 42200.00
D Corning, Inc. COM 219350105 7838 47324.00
SH DEFINED 01 47324.00
D Danielson Holding COM 236274106 861
162100.00SH DEFINED 01 162100.00
D Diamond Home Services, Inc. COM 252648100 50
228300.00SH DEFINED 01 228300.00
D Diebold Inc. COM 253651103 467 21000.00
SH DEFINED 01 21000.00
D Disney COM 254687106 1590 41830.00
SH DEFINED 01 41830.00
D Donnelley, R.R., & Sons COM 257867101 579 25604.00
SH DEFINED 01 25604.00
D Dynamex COM 26784F103 0
556300.00SH DEFINED 01 556300.00
D E-Stamp Corporation COM 269154100 743 60621.00
SH DEFINED 01 60621.00
D EMC Corp COM 268648102 1467 12800.00
SH DEFINED 01 12800.00
D Elan Corp COM 284131208 9790
308958.00SH DEFINED 01 308958.00
D Electro Scientific Industries COM 285229100 1873 20000.00
SH DEFINED 01 20000.00
D Exxon-Mobil Corp COM 30231g102 748 9261.18
SH DEFINED 01 9261.18
D Federal National Mortgage Corp COM 313586109 289 5000.00
SH DEFINED 01 5000.00
D General Electric COM 369604103 6811 49895.00
SH DEFINED 01 49895.00
D Gillette Company COM 375766102 206 5522.00
SH DEFINED 01 5522.00
D Guidant Corporation COM 401698105 11054
165300.00SH DEFINED 01 165300.00
D Harcourt General COM 41163G101 2718 68050.00
SH DEFINED 01 68050.00
D Helmerich & Payne COM 423452101 7166
291000.00SH DEFINED 01 291000.00
D Home Depot, Inc. COM 437076102 478 8100.00
SH DEFINED 01 8100.00
D Houghton Mifflin COM 441560109 7458
179450.00SH DEFINED 01 179450.00
D IMS Health, Inc. COM 449934108 357 15000.00
SH DEFINED 01 15000.00
D Illinois Tool Works COM 452308109 375 6190.00
SH DEFINED 01 6190.00
D Information Resources COM 456905108 1010
118000.00SH DEFINED 01 118000.00
D Ingram Micro A COM 457153104 478 40000.00
SH DEFINED 01 40000.00
D Int'l Business Machines COM 459200101 6305 55310.00
SH DEFINED 01 55310.00
D Lexmark Int'l Group - Class A COM 529771107 306 2800.00
SH DEFINED 01 2800.00
D Liberty Media Group - Class A COM 87924v507 10089
181575.00SH DEFINED 01 181575.00
D Loral Space Communications COM g56462107 315 15000.00
SH DEFINED 01 15000.00
D MCI WorldCom, Inc. COM 55268b106 6264
130676.50SH DEFINED 01 130676.50
D Magna International COM 559222401 7808
192500.00SH DEFINED 01 192500.00
D Mallon Resources COM 561240201 738
147500.00SH DEFINED 01 147500.00
D Manpower, Inc. COM 56418h100 8736
244350.00SH DEFINED 01 244350.00
D Mattel COM 577081102 219 20600.00
SH DEFINED 01 20600.00
D McKesson HBOC COM 581557105 3316
163264.34SH DEFINED 01 163264.34
D MediaOne Group, Inc. COM 58440j104 237 3000.00
SH DEFINED 01 3000.00
D Mellon Financial Corp COM 58551a108 2864 86943.00
SH DEFINED 01 86943.00
D Mentor Graphics COM 587200106 5068
382500.00SH DEFINED 01 382500.00
D Merck & Co. COM 589331107 802 10652.00
SH DEFINED 01 10652.00
D Microsoft COM 594918104 2458 23070.00
SH DEFINED 01 23070.00
D Miller Industries COM 600551105 74 25900.00
SH DEFINED 01 25900.00
D Minnesota Mining & Manufacturi COM 604059105 562 6410.00
SH DEFINED 01 6410.00
D Mirage Resorts COM 60462e104 296 24000.00
SH DEFINED 01 24000.00
D Molex, Inc. COM 608554101 412 7309.00
SH DEFINED 01 7309.00
D Molex, Inc. - Class A COM 608554200 2785 64311.00
SH DEFINED 01 64311.00
D Motorola COM 620076109 1366 8600.00
SH DEFINED 01 8600.00
D Mylan Labs, Inc. COM 628530107 7537
295550.00SH DEFINED 01 295550.00
D New York Times COM 650111107 245 5300.00
SH DEFINED 01 5300.00
D Newbridge Networks COM 650901101 21319
632850.00SH DEFINED 01 632850.00
D Northern Trust Corp COM 665859104 498 8440.00
SH DEFINED 01 8440.00
D Nutraceutical Int'l COM 67060Y101 1163
310000.00SH DEFINED 01 310000.00
D Pfizer, Inc. COM 717081103 500 13500.00
SH DEFINED 01 13500.00
D ProLogis COM 743410102 923 48900.00
SH DEFINED 01 48900.00
D Protocol Systems, Inc. COM 74371r106 3245
318500.00SH DEFINED 01 318500.00
D Robotic Vision Systems, Inc. COM 771074101 6861
510601.00SH DEFINED 01 510601.00
D Rocky Mountain Chocolate Facto COM 774678403 410 78000.00
SH DEFINED 01 78000.00
D Royal Caribbean Cruises COM v7780t103 4998
111850.48SH DEFINED 01 111850.48
D Rural Metro COM 781748108 380 95000.00
SH DEFINED 01 95000.00
D Ryerson Tull, Inc. COM 78375p107 5264
289408.00SH DEFINED 01 289408.00
D SBC Communications, Inc. COM 78387g103 3458 82589.00
SH DEFINED 01 82589.00
D Saks, Inc. COM 79377w108 4249
348650.00SH DEFINED 01 348650.00
D Sara Lee COM 803111103 1404 77200.00
SH DEFINED 01 77200.00
D Scholastic International COM 807066105 538 8500.00
SH DEFINED 01 8500.00
D Scientific Atlanta COM 808655104 364 4000.00
SH DEFINED 01 4000.00
D Sealed Air Corp COM 81211k100 255 5000.00
SH DEFINED 01 5000.00
D Sensormatic Electronics COM 817265101 12976
667550.00SH DEFINED 01 667550.00
D Sigma Aldrich COM 826552101 341 10000.00
SH DEFINED 01 10000.00
D Solectron Corp COM 834182107 4125 47900.00
SH DEFINED 01 47900.00
D Southernera Resources Ltd COM 843901109 21 15000.00
SH DEFINED 01 15000.00
D Southwest Airlines Company COM 844741108 910 56215.00
SH DEFINED 01 56215.00
D Starbucks Corp COM 855244109 427 12500.00
SH DEFINED 01 12500.00
D Sylvan Learning Systems COM 871399101 819 59300.00
SH DEFINED 01 59300.00
D Symantec Corp COM 871503108 203 3200.00
SH DEFINED 01 3200.00
D Symbol Technologies COM 871508107 9080
139155.00SH DEFINED 01 139155.00
D Tech Data Corp. COM 878237106 1248 54700.00
SH DEFINED 01 54700.00
D Tenet Healthcare COM 88033g100 7961
348963.00SH DEFINED 01 348963.00
D Teva Pharmaceutical COM 881624209 4250 57049.00
SH DEFINED 01 57049.00
D Thomas & Betts COM 884315102 321 11300.00
SH DEFINED 01 11300.00
D Total Systems Services Inc. COM 891906109 344 19128.45
SH DEFINED 01 19128.45
D True North Communications COM 897844106 11416
275500.00SH DEFINED 01 275500.00
D Tyler Technologies Inc. COM 902252105 938
200000.00SH DEFINED 01 200000.00
D US West, Inc. COM 91273h101 219 3081.00
SH DEFINED 01 3081.00
D Unilever NV COM 904784709 1181 28500.00
SH DEFINED 01 28500.00
D Viacom - Class B COM 925524308 9913
165566.00SH DEFINED 01 165566.00
D Wal-Mart Stores COM 931142103 3447 61830.00
SH DEFINED 01 61830.00
D Walgreen COM 931422109 567 19600.00
SH DEFINED 01 19600.00
D Wallace Computer Services COM 932270101 1488
133000.00SH DEFINED 01 133000.00
D Warner Lambert COM 934488107 263 2700.00
SH DEFINED 01 2700.00
D Zebra Technologies COM 989207105 200 3000.00
SH DEFINED 01 3000.00
D AFLAC, Inc. RET EQ 001055102 214 5000.00
SH DEFINED 01 5000.00
D Accuhealth, Inc. RET EQ 004380101 2 12000.00
SH DEFINED 01 12000.00
D Acorn Investment Trust - Commo RET EQ 004851101 335 18527.13
SH DEFINED 01 18527.13
D Banc One Corp RET EQ 06423a103 462 15916.00
SH DEFINED 01 15916.00
D Cisco Systems Inc. RET EQ 17275r102 202 1600.00
SH DEFINED 01 1600.00
D Dynamex, Inc. RET EQ 26784F103 98 44960.00
SH DEFINED 01 44960.00
D Microsoft RET EQ 594918104 472 4431.00
SH DEFINED 01 4431.00
D U.S. Realtel {RESTRICTED} RET EQ 902979103 439 32500.00
SH DEFINED 01 32500.00
S REPORT SUMMARY 128 DATA RECORDS 332486
1 OTHER MANAGERS ON WHOSE
BEHALF REPORT IS FILED
</TABLE>
