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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 1999
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings
entries.
Institutional Investment Manager Filing this Report:
Name: Magten Asset Management Corp.
Address: 35 East 21st Street
New York, New York 10010
Form 13F File Number: 28-3508
The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the report is authorized to submit it, that all
information contained herein is true, correct and complete, and
that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of
this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Talton R. Embry
Title: Managing Director
Phone: (212) 529-6600
Signature, Place, and Date of Signing:
/s/ Talton R. Embry New York, New York August 16, 1999
_______________________ __________________ _______________
[Signature] [City, State] [Date]
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Report Type (Check only one.):
[X ] 13F HOLDINGS REPORT. (Check here if all holdings of
this reporting manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in
this report, and all holdings are reported by other
reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the
holdings for this reporting manager are reported in this
report and a portion are reported by other reporting
manager(s).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
28-
2
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Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
Form 13F Information Table Entry Total: 47
Form 13F Information Table Value Total: $213,113
[thousands]
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file
number(s) of all institutional investment managers with respect
to which this report is filed, other than the manager filing this
report.
[If there are no entries in this list, state "NONE" and omit the
column headings and list entries.]
No. Form 13F File Number Name
1 28- Talton R. Embry
3
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Form 13F INFORMATION TABLE
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
TITLE SHRS OR SH/ PUT/ INVESTMENT OTHR VOTING AUTHORITY
NAME OF ISSUER OF CLASS CUSIP VALUE PRN AMT PRN CALL DISCRETION MGRS SOLE SHARED NONE
- ------------------- --------- --------- ---------- --------- ---- ---- ----------- ---- ---- ------ ----
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AMERICAN REAL ESTATE COMMON STOCK 29169109 1,370,931 168,730 X SHARED-OTHER 1 39,630 129,100
PARTNERS, L.P.
ASSOCIATED ESTATES COMMON STOCK 45604105 1,821,488 154,200 X SHARED-OTHER 1 37,500 116,700
REALTY CORP.
ASSET INVESTORS COMMON STOCK 04541W107 700,270 46,880 X SHARED-OTHER 1 27,460 19,420
CORP.
AMERICAN INT'L GROUP COMMON STOCK 26874107 251,853 2,148 X SHARED-OTHER 1 2,148
ACADIA REALTY TRUST COMMON STOCK 4239109 1,025,550 190,800 X SHARED-OTHER 1 90,900 99,900
ALIANT COMMUNICATION COMMON STOCK 16090102 1,062,313 23,000 X SHARED-OTHER 1 23,000
ANACOMP INC. COMMON STOCK 32371106 73,872,293 4,345,429 X SHARED-OTHER 1 3,407,486 937,943
NEW COMMON STOCK
ATLANTIC REALTY COMMON STOCK 48798102 1,769,625 217,800 X SHARED-OTHER 1 88,500 129,300
TRUST
BRISTOL-MYERS SQUIBB COMMON STOCK 110122108 412,764 5,860 X SHARED-OTHER 1 5,860
BURNHAM PACIFIC COMMON STOCK 12232C108 666,106 54,100 X SHARED-OTHER 1 54,100
PROPERTIES INC.
BANYAN STRATEGIC COMMON STOCK 06683M102 6,530,063 1,111,500 X SHARED-OTHER 1 670,000 441,500
REALTY TRUST
CONCENTRA MANAGED COMMON STOCK 20589T103 918,375 62,000 X SHARED-OTHER 1 62,000
CARE INC.
COLEMAN CO. INC. COMMON STOCK 193559101 1,979,063 211,100 X SHARED-OTHER 1 211,100
CRESCENT OPERATING COMMON STOCK 22575M100 239,119 35,100 X SHARED-OTHER 1 35,100
INC.
CENTERTRUST RETAIL COMMON STOCK 152038105 1,464,050 124,600 X SHARED-OTHER 1 36,200 88,400
PROPERTIES
CVS CORP COMMON STOCK 126650100 1,140,353 22,470 X SHARED-OTHER 1 22,470
COMMON STOCK
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ADVANTICA RESTAURANT COMMON STOCK 00758B109 8,363,114 2,432,906 X SHARED-OTHER 1 1,406,796 1,026,110
GROUP
DYNEX CAPITAL INC. COMMON STOCK 26817Q100 368,775 178,800 X SHARED-OTHER 1 178,800
ELDERTRUST COMMON STOCK 284560109 3,559,513 349,400 X SHARED-OTHER 1 207,400 142,000
AIRLEASE LTD L.P COMMON STOCK 9366105 1,846,531 159,700 X SHARED-OTHER 1 30,300 129,400
FRANCHISE MTG COMMON STOCK 35181D108 341,250 39,000 X SHARED-OTHER 1 39,000
CORP.
FIRST UNION REIT COMMON STOCK 337400105 21,817,440 4,848,320 X SHARED-OTHER 1 2,871,340 1,976,980
GLIMCHER REALTY COMMON STOCK 379302102 3,242,250 198,000 X SHARED-OTHER 1 83,000 115,000
TRUST W/RIGHTS
HORIZON GROUP COMMON STOCK 44041U102 793,618 244,190 X SHARED-OTHER 1 211,104 33,086
PROPERTIES INC.
JPS TEXTILE COMMON STOCK 46624E405 6,618,300 1,825,738 X SHARED-OTHER 1 1,106,327 719,411
COMMON STOCK
KONOVER PROPERTY COMMON STOCK 50047R100 187,200 20,800 X SHARED-OTHER 1 20,800
TRUST
KRANZCO REALTY COMMON STOCK 5.01E+107 3,339,994 252,075 X SHARED-OTHER 1 71,475 180,600
TRUST
LASER MORTGAGE COMMON STOCK 51806D100 670,313 195,000 X SHARED-OTHER 1 195,000
MGMT INC.
LORAL SPACE & COMM. PREFERRED G56462149 2,718,300 53,300 X SHARED-OTHER 1 37,300 16,000
$3.00 CV PFD
MACC PRIVATE COMMON STOCK 552617102 134,063 14,300 X SHARED-OTHER 1 14,300
EQUITIES
MELLON BANK COMMON STOCK 585509102 261,900 7,200 X SHARED-OTHER 1 7,200
COMMON STOCK
MOSAIX INC. COMMON STOCK 619454101 1,127,500 88,000 X SHARED-OTHER 1 88,000
NOVACARE INC CONVERTIBLE 669930AA7 9,203,288 9,990,000 X SHARED-OTHER 1 7,615,000 2,375,000
5.5 CV 1/15/00
OCWEN ASSET COMMON STOCK 67574M106 2,315,250 514,500 X SHARED-OTHER 1 289,000 225,500
INVESTMENT CORP.
OMEGA WORLDWIDE INC. COMMON STOCK 68210B108 320,531 78,900 X SHARED-OTHER 1 78,900
5
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PERINI CORP. PREFERRED 713839306 539,750 25,400 X SHARED-OTHER 1 25,400
2.125 CV PFD
PRICE ENTERPRISES COMMON STOCK 741444202 299,834 41,716 X SHARED-OTHER 1 8,539 33,177
INC.
PRIME RETAIL INC. COMMON STOCK 741570105 177,581 20,441 X SHARED-OTHER 1 20,441
TELEBRAS SPON ADR COMMON STOCK 87928R106 340,425 3,825 X SHARED-OTHER 1 3,825
(RCTB 41)
SUN HEALTHCARE CONVERTIBLE 866933AA2 899,100 9,990,000 X SHARED-OTHER 1 48,500,005 140,000
6% CV DEB 3/1/04
SLM HOLDING CORP. COMMON STOCK 78442A109 202,812 4,427 X SHARED-OTHER 1 4,427
SALANT CORPORATION COMMON STOCK 794004200 40,924,615 6,547,938 X SHARED-OTHER 1 5,125,370 1,422,568
COMMON STOCK
SUNBEAM CORP. CONVERTIBLE 867071AA0 3,827,71022,852,000 X SHARED-OTHER 1 167,020 6,150,000
0% SR SUB CV 3/25/18
TAVA TECHNOLOGIES COMMON STOCK 872169107 613,463 79,800 X SHARED-OTHER 1 79,800
VENTAS INC. COMMON STOCK 92276F100 2,231,700 415,200 X SHARED-OTHER 1 193,300 221,900
WINSLOEW FURNITURE COMMON STOCK 975377102 386,688 11,500 X SHARED-OTHER 1 11,500
INC.
EXXON CORP. COMMON STOCK 302290101 215,950 2,800 X SHARED-OTHER 1 2,800
TOTAL: 213,112,969
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01651001.AQ8
