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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: December 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
Signature, Place, and Date of Signing:
/s/ Talton R. Embry New York, New York February 14, 2000
____________________ ___________________ _________________
[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: 36
Form 13F Information Table Value Total: $158,802
[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
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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
SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AMERICAN REAL ESTATE COMMON STOCK 29169109 1,286,566 168,730 OTHER 1 39,630 129,100
PARTNERS, L.P.
ACADIA REALTY TRUST COMMON STOCK 4239109 161,413 34,900 OTHER 1 34,900
ASSISTED LIVING CONVERTIBLE 04543LAE9 892,500 1,500,000 OTHER 1 750,000 750,000
5.625% CV 5/1/03
ANACOMP INC. COMMON STOCK 32371106 79,032,490 4,345,429 OTHER 1 3,407,486 937,943
NEW COMMON STOCK
ATLANTIC RICHFIELD COMMON STOCK 48825103 1,038,000 12,000 OTHER 1 12,000
COMMON STOCK
ATLANTIC REALTY COMMON STOCK 48798102 1,515,513 195,550 OTHER 1 66,250 129,300
TRUST
ALZA CORP. COMMON STOCK 22615108 554,000 16,000 OTHER 1 16,000
BESTEL S.A. COMMON STOCK 08658T112 350,000 5,000 OTHER 1 1,700 3,300
WARRANTS
BRISTOL-MYERS SQUIBB COMMON STOCK 110122108 356,883 5,560 OTHER 1 5,560
BANYAN STRATEGIC COMMON STOCK 06683M102 4,534,800 755,800 OTHER 1314,300 441,500
REALTY TRUST
CORT BUSINESS COMMON STOCK 220493100 374,906 21,500 OTHER 1 21,500
SERVICES CORP.
COLEMAN CO. INC. COMMON STOCK 193559101 1,965,869 211,100 OTHER 1 211,100
CENTER TRUST INC. COMMON STOCK 151845104 856,375 88,400 OTHER 1 88,400
ADVANTICA RESTAURANT COMMON STOCK 00758B109 2,982,632 1,704,361 OTHER 1 689,351 1,015,010
GROUP
DELTA & PINE LAND CO COMMON STOCK 247357106 747,125 43,000 OTHER 1 43,000
COMMON STOCK
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ELDERTRUST COMMON STOCK 284560109 1,242,813 205,000 OTHER 1 63,000 142,000
W/RIGHTS
AIRLEASE LTD L.P COMMON STOCK 9366105 1,776,663 159,700 OTHER 1 30,300 129,400
FIRST UNION REIT COMMON STOCK 337400105 21,913,603 4,613,390 OTHER 1 2,516,490 2,096,900
HORIZON GROUP COMMON STOCK 44041U102 446,786 132,381 OTHER 1 99,295 33,086
PROPERTIES INC.
IMPERIAL COMMON STOCK 45272T102 1,059,013 93,100 OTHER 1 93,100
CREDIT COMMERCIAL
JPS INDUSTRIES COMMON STOCK 46624E405 6,161,866 1,825,738 OTHER 1 1,106,327 719,411
COMMON STOCK
KRANZCO REALTY COMMON STOCK 50076E103 1,536,900 174,400 OTHER 1 174,400
TRUST
LORAL SPACE & COMM. PREFERRED G56462149 3,337,913 53,300 OTHER 1 37,300 16,000
$3.00 CV PFD
MACC PRIVATE COMMON STOCK 552617102 191,263 14,300 OTHER 1 14,300
EQUITIES
OLSTEN CORP COMMON STOCK 681385100 791,875 70,000 OTHER 1 70,000
COMMON STOCK
O'SULLIVAN INDUST. PREFERRED 67104Q205 25,500 50,000 OTHER 1 50,000
HLDGS 12% PFD
PERINI CORP. PREFERRED 713839306 457,200 25,400 OTHER 1 25,400
2.125 CV PFD
PLAYERS INT'L COMMON STOCK 727903106 322,997 39,300 OTHER 1 39,300
COMMON STOCK
PREMIERE TECH CONVERTIBLE 74058FAC6 4,281,519 7,495,000 OTHER 1 4,495,000 3,000,000
5.75% CV 7/01/04
QUADRAMED CORP CONVERTIBLE 74730WAC5 3,650,000 8,000,000 OTHER 1 8,000,000
CONV 5.25% 5/1/05
REPUBLIC NEW YORK COMMON STOCK 760719104 2,028,600 28,175 OTHER 1 28,175
TELEBRAS SPON ADR COMMON STOCK 87928R106 431,419 3,325 OTHER 1 3,325
(RCTB 41)
SUNBEAM CORP. CONVERTIBLE 867071AA0 3,257,923 21,902,000 OTHER 1 15,752,000 6,150,000
0% SR SUB CV 3/25/18
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VIASOFT INC. COMMON STOCK 92552U102 796,250 140,000 OTHER 1 140,000
VENTAS INC. COMMON STOCK 92276F100 1,425,634 340,450 OTHER 1 118,550 221,900
XIONICS DOCUMENT COMMON STOCK 98412X103 156,563 15,000 OTHER 1 15,000
GRAND TOTAL: 158,801,613
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