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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: September 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 November 15, 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 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-
2
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Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
Form 13F Information Table Entry Total: 43
Form 13F Information Table Value Total: $164,836
[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
1 28- Talton R. Embry
3
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Form 13F INFORMATION TABLE
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ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6 ITEM 7 ITEM 8:
NAME OF ISSUER TITLE OF CUSIP FAIR MARKET SHARES OR INVESTMENT OTHER VOTING AUTHORITY
CLASS NUMBER VALUE PRINC. AMT. DISCRETION MANAGERS SOLE SHARES NONE
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ACADIA REALTY TRUST COMMON STOCK 4239109 770,625 164,400 SHARED-OTHER 1 74500 89900
ADVANTICA RESTAURANT COMMON STOCK 00758B109 6,627,543 2,186,406 SHARED-OTHER 1 1160296 1026110
GROUP
AIRLEASE LTD L.P COMMON STOCK 9366105 1,866,494 159,700 SHARED-OTHER 1 30300 129400
AMERICAN INT'L GROUP COMMON STOCK 26874107 233,427 2,685 SHARED-OTHER 1 2685
AMERICAN REAL ESTATE COMMON STOCK 29169109 1,434,205 168,730 SHARED-OTHER 1 39630 129100
PARTNERS, L.P.
ANACOMP INC. COMMON STOCK 32371106 71,563,784 4,345,429 SHARED-OTHER 1 3407486 937943
ASSISTED LIVING CONVERTIBLE 04543LAE9 808,125 1,500,000 SHARED-OTHER 1 750000 750000
5.625% CV 5/1/03
ATLANTIC REALTY COMMON STOCK 48798102 1,561,219 198,250 SHARED-OTHER 1 68950 129300
TRUST
BANYAN STRATEGIC COMMON STOCK 06683M102 5,148,075 992,400 SHARED-OTHER 1 550900 441500
REALTY TRUST
BRISTOL-MYERS SQUIBB COMMON STOCK 110122108 395,550 5,860 SHARED-OTHER 1 5860
CASE CORP. COMMON STOCK 14743R103 597,750 12,000 SHARED-OTHER 1 12000
CENTER TRUST INC. COMMON STOCK 151845104 983,450 88,400 SHARED-OTHER 1 88400
COLEMAN CO. INC. COMMON STOCK 193559101 2,005,450 211,100 SHARED-OTHER 1 211100
CONOCO INC. CL B COMMON STOCK 208251405 410,625 15,000 SHARED-OTHER 1 15000
CORT BUSINESS COMMON STOCK 220493100 497,188 21,500 SHARED-OTHER 1 21500
SERVICES CORP.
CVS CORP COMMON STOCK 126650100 386,494 9,470 SHARED-OTHER 1 9470
EGGHEAD.COM INC COMMON STOCK 282330109 104,020 14,860 SHARED-OTHER 1 14860
ELDERTRUST COMMON STOCK 284560109 2,245,175 289,700 SHARED-OTHER 1 147700 142000
EXXON CORP. COMMON STOCK 30231G102 212,800 2,800 SHARED-OTHER 1 2800
FIRST UNION REIT COMMON STOCK 337400105 23,346,950 4,669,390 SHARED-OTHER 1 2482490 2186900
FRANCHISE MTG COMMON STOCK 35181D108 555,038 77,900 SHARED-OTHER 1 77900
CORP.
GLIMCHER REALTY COMMON STOCK 379302102 1,719,906 117,100 SHARED-OTHER 1 27100 90000
TRUST W/RIGHTS
HORIZON GROUP COMMON STOCK 44041U102 742,718 212,205 SHARED-OTHER 1 179119 33086
PROPERTIES INC.
JPS INDUSTRIES COMMON STOCK 46624E405 4,792,562 1,825,738 SHARED-OTHER 1 1106327 719411
KRANZCO REALTY COMMON STOCK 5.01E+107 2,028,797 200,375 SHARED-OTHER 1 25975 174400
TRUST
LORAL SPACE & COMM. PREFERRED G56462149 2,598,375 53,300 SHARED-OTHER 1 37300 16000
$3.00 CV PFD
MACC PRIVATE COMMON STOCK 552617102 175,175 14,300 SHARED-OTHER 1 14300
EQUITIES
MELLON BANK COMMON STOCK 585509102 242,100 7,200 SHARED-OTHER 1 7200
NALCO CHEMICAL CO. COMMON STOCK 629853102 909,000 18,000 SHARED-OTHER 1 18000
NOVACARE INC CONVERTIBLE 669930AA7 13,991,300 15,460,000 SHARED-OTHER 1 105100 4950000
5.5 CV 1/15/00
4
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OCWEN ASSET COMMON STOCK 67574M106 1,721,550 399,200 SHARED-OTHER 1 173700 225500
INVESTMENT CORP.
OMEGA WORLDWIDE INC. COMMON STOCK 68210B108 161,294 39,400 SHARED-OTHER 1 39400
O'SULLIVAN INDUST. COMMON STOCK 688609106 975,000 65,000 SHARED-OTHER 1 65000
HLDGS
PERINI CORP. PREFERRED 713839306 361,950 25,400 SHARED-OTHER 1 25400
2.125 CV PFD
POOL ENERGY SERVICES COMMON STOCK 732788104 1,797,625 73,000 SHARED-OTHER 1 73000
COMPANY
QUADRAMED CORP CONVERTIBLE 74730WAC5 2,531,250 5,000,000 SHARED-OTHER 1 5000000
CONV 5.25% 5/1/05
REPUBLIC NEW YORK COMMON STOCK 760719104 273,397 4,450 SHARED-OTHER 1 4450
SAVILLE SYSTEMS COMMON STOCK 805174109 514,063 35,000 SHARED-OTHER 1 35000
IREL-SP ADR
SUN HEALTHCARE CONVERTIBLE 866933AA2 808,650 8,985,000 SHARED-OTHER 1 3845000 5140000
6% CV DEB 3/1/04
SUNBEAM CORP. CONVERTIBLE 867071AA0 3,613,830 21,902,000 SHARED-OTHER 1 157520 6150000
0% SR SUB CV 3/25/18
TELEBRAS SPON ADR COMMON STOCK 87928R106 292,613 3,825 SHARED-OTHER 1 3825
(RCTB 41)
VENTAS INC. COMMON STOCK 92276F100 1,617,138 340,450 SHARED-OTHER 1 118550 221900
WYMAN-GORDON CO. COMMON STOCK 983085101 1,214,688 65,000 SHARED-OTHER 1 65000
TOTAL $164,836,968
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01651001.AR1
