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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: March 31, 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
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Signature, Place, and Date of Signing:
/s/ Talton R. Embry New York, New York May 13, 1999
_______________________ _____________________ ____________
[Signature] [City, State] [Date]
2
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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 manger(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-
3
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Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 62
Form 13F Information Table Value Total: $185,185
[thousands]
List of Other Included Managers: None
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
28-
4
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<TABLE>
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>
ADVANTICA RESTAURANT COMMON STOCK 00758B109 12921865 2584373 Shared-other 1558263 1026110
GROUP
AIRLEASE LTD L.P COMMON STOCK 9366105 1956325 159700 Shared-other 30300 129400
AMERICAN MEDIA INC.- COMMON STOCK 02744L100 234600 40800 Shared-other 40800
CLASS A
AMERICAN STRATEGIC COMMON STOCK 30099105 3292386 275802 Shared-other 63969 211833
INCOME II
ASTRA AB- COMMON STOCK 46298105 1169813 51000 Shared-other 51000
SPONS ADR
AMERICAN REAL ESTATE COMMON STOCK 29169109 1381477 168730 Shared-other 39630 129100
PARTNERS, L.P.
ASSOCIATED ESTATES COMMON STOCK 45604105 2841088 272200 Shared-other 95900 176300
REALTY CORP.
ASSET INVESTORS COMMON STOCK 45417201 2132400 177700 Shared-other 93680 84020
CORP.
AMERICAN INT'L GROUP COMMON STOCK 26874107 259103 2148 Shared-other 2148
ACADIA REALTY TRUST COMMON STOCK 4239109 1608600 306400 Shared-other 170900 135500
ANACOMP INC. COMMON STOCK 32371106 70889483 4413353 Shared-other 3475410 937943
NEW COMMON STOCK
AMERICAN STORES CO. COMMON STOCK 30096101 495000 15000 Shared-other 15000
ASCEND COMMUNICATION COMMON STOCK 43491109 920563 11000 Shared-other 11000
ATLANTIC REALTY COMMON STOCK 48798102 1648350 237600 Shared-other 108300 129300
TRUST
BRISTOL-MYERS SQUIBB COMMON STOCK 110122108 375773 5860 Shared-other 5860
BURNHAM PACIFIC COMMON STOCK 12232C108 561288 54100 Shared-other 54100
PROPERTIES INC.
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BANYAN STRATEGIC COMMON STOCK 06683M102 5488031 1111500 Shared-other 670000 441500
REALTY TRUST
CONCENTRA MANAGED COMMON STOCK 20589T103 391500 27000 Shared-other 27000
CARE INC.
COLEMAN CO. INC. COMMON STOCK 193559101 1509750 183000 Shared-other 183000
CALTON INC. COMMON STOCK 131380206 580163 515700 Shared-other 515700
CENTERTRUST RETAIL COMMON STOCK 152038105 3062450 266300 Shared-other 152900 113400
PROPERTIES
CVS CORP COMMON STOCK 126650100 2212075 46570 Shared-other 46570
COMMON STOCK
DYNEX CAPITAL INC. COMMON STOCK 26817Q100 627388 189400 Shared-other 189400
ELDERTRUST COMMON STOCK 284560109 1205100 133900 Shared-other 133900
FIRST UNION REIT COMMON STOCK 337400105 12556688 2870100 Shared-other 1726400 1143700
GLOBAL HIGH INCOME COMMON STOCK 37933G108 231750 20600 Shared-other 20600
DOLLAR FUND
GLIMCHER REALTY COMMON STOCK 379302102 3825188 266100 Shared-other 126100 140000
TRUST W/RIGHTS
HORIZON GROUP COMMON STOCK 44041U102 1059161 242094 Shared-other 211608 30486
PROPERTIES INC.
HOST MARRIOTT CORP. COMMON STOCK 44107P104 1632928 146780 Shared-other 146780
HEARST-ARGYLE COMMON STOCK 422317107 242138 9833 Shared-other 9833
TELEVISION 'A'
JPS TEXTILE COMMON STOCK 46624E405 10278214 1827238 Shared-other 1107827 719411
COMMON STOCK
KONOVER PROPERTY COMMON STOCK 50047R100 1137625 191600 Shared-other 161000 30600
TRUST
KRANZCO REALTY COMMON STOCK 5.01E+107 3297164 279125 Shared-other 93125 186000
TRUST
LASER MORTGAGE COMMON STOCK 51806D100 1462280 268925 Shared-other 268925
MGMT INC.
LORAL SPACE & COMM. PREFERRED G56462149 2744950 53300 Shared-other 37300 16000
$3.00 CV PFD
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LUCAS VARITY - COMMON STOCK 549395101 1017500 22000 Shared-other 22000
PLC ADR
MACC PRIVATE COMMON STOCK 552617102 148363 14300 Shared-other 14300
EQUITIES
MELLON BANK COMMON STOCK 585509102 253350 3600 Shared-other 3600
COMMON STOCK
MGI PROPERTIES INC. COMMON STOCK 552885105 1359853 49675 Shared-other 29675 20000
MEDITRUST CORP COMMON STOCK 58501T306 771125 62000 Shared-other 62000
OCWEN ASSET COMMON STOCK 67574M106 2156081 584700 Shared-other 359200 225500
INVESTMENT CORP.
OMEGA WORLDWIDE INC. COMMON STOCK 68210B108 360000 96000 Shared-other 96000
PATRIOT AMER COMMON STOCK 703352203 352359 68753 Shared-other 12232 56521
HOSPITALITY INC.
PERINI CORP. PREFERRED 713839306 457200 25400 Shared-other 25400
2.125 CV PFD
PHARMERICA INC. COMMON STOCK 717135107 390000 78000 Shared-other 78000
PRICE ENTERPRISES COMMON STOCK 741444202 579702 104216 Shared-other 67139 37077
INC.
PRIME RETAIL INC. COMMON STOCK 741570105 2025109 231441 Shared-other 85130 146311
PRIME RETAIL INC. COMMON STOCK 741570303 1175680 73480 Shared-other 46240 27240
8.5% SER B CV
QUALIX GROUP INC. COMMON STOCK 747586105 543750 75000 Shared-other 75000
RIVIERA HOLDINGS COMMON STOCK 769627100 64750 14800 Shared-other 14800
CORP.
RAMCO-GERSHENSON COMMON STOCK 751452202 470156 29500 Shared-other 17100 12400
PROPERTIES
SAUL CENTERS INC. COMMON STOCK 804395101 1282613 87700 Shared-other 48400 39300
SUN HEALTHCARE CONVERTIBLE 866933AA2 999500 9995000 Shared-other 4855000 5140000
6% CV DEB 3/1/04
SIZELER PROPERTY COMMON STOCK 830137105 1097250 133000 Shared-other 57800 75200
INVESTORS
SUNBEAM CORP. CONVERTIBLE 867071AA0 2826915 24852000 Shared-other 187020 6150000
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0% SR SUB CV 3/25/18
TOWN & COUNTRY TRUST COMMON STOCK 892081100 4550381 302100 Shared-other 107100 195000
TELEBRAS SPON ADR COMMON STOCK 87928R106 303131 3825 Shared-other 3825
(RCTB)
TEMPLETON EMERGING COMMON STOCK 880192109 212931 21700 Shared-other 21700
MARKETS INC FD
SOUTHWEST GAS CORP. COMMON STOCK 844895102 363000 13200 Shared-other 13200
U.S. FILTER CORP. COMMON STOCK 911843209 499188 16300 Shared-other 16300
VENTAS INC. COMMON STOCK 92276F100 2537400 422900 Shared-other 201000 221900
WILSHIRE REIT COMMON STOCK 971892104 2155313 605000 Shared-other 440000 165000
GRAND TOTAL: 185,185,250
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01651001.AQ1
