<PAGE> PAGE 1
000 A000000 02/28/98
000 C000000 088048
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 SCUDDER SECURITIES TRUST
001 B000000 811-2021
001 C000000 6172952567
002 A000000 TWO INTERNATIONAL PLACE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02110
002 D020000 4103
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C010200 2
007 C020200 SCUDDER SMALL COMPANY VALUE FUND
007 C030200 N
007 C010300 3
007 C020300 SCUDDER MICRO CAP FUND
007 C030300 N
007 C010400 4
007 C020400 SCUDDER 21ST CENTURY GROWTH FUND
007 C030400 N
007 C010500 5
007 C020500 SCUDDER FINANCIAL SERVICES FUND
007 C030500 N
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 SCUDDER KEMPER INVESTMENTS, INC.
008 B00AA01 A
008 C00AA01 801-252
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10154
014 A00AA01 SCUDDER INVESTOR SERVICES, INC.
014 B00AA01 8-298
014 A00AA02 KEMPER DISTRIBUTORS, INC.
014 B00AA02 8-47765
<PAGE> PAGE 2
014 A00AA03 GRUNTAL SECURITIES, INC.
014 B00AA03 8-31022
014 A00AA04 THE GMS GROUP, INC.
014 B00AA04 8-23936
014 A00AA05 ZURICH CAPITAL MARKETS
014 B00AA05 8-49827
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 50
019 C00AA00 SCUDDERRRR
020 A000001 INSTINET
020 C000001 130
020 A000002 WEEDEN
020 C000002 31
020 A000003 SPEAR LEED & KELLOGG
020 C000003 19
020 A000004 CANTOR FITZGERALD
020 C000004 14
020 A000005 QUANTEX/ITG
020 C000005 12
020 A000006 GERARD KLAU
020 C000006 10
020 A000007 BUCKINGHAM RESH
020 C000007 9
020 A000008 HOEING
020 C000008 8
020 A000009 BEAR STEARNS
020 C000009 6
020 A000010 JEFFERIES & CO., INC.
020 C000010 5
021 000000 368
022 A000001 SANWA
022 C000001 66285
022 D000001 0
022 A000002 HERZOG HEINE
022 C000002 8728
022 D000002 281
022 A000003 SMITH BARNEY
022 C000003 2616
022 D000003 0
022 A000004 FOX PITT KELTON
022 C000004 1900
022 D000004 0
022 A000005 GOLDMAN SACHS
022 C000005 1829
022 D000005 0
022 A000006 WHEAT FIRST SECURITIES
022 C000006 1137
022 D000006 663
022 A000007 MERRILL LYNCH
022 C000007 965
<PAGE> PAGE 3
022 D000007 731
022 A000008 ROBERT W. BAIRD
022 C000008 1008
022 D000008 624
022 A000009 PRUDENTIAL
022 C000009 1010
022 D000009 217
022 A000010 PAINE WEBBER
022 C000010 602
022 D000010 617
023 C000000 769204
023 D000000 30241
077 A000000 Y
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077 E000000 N
077 F000000 N
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077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
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077 Q020000 N
077 Q030000 Y
078 000000 N
028 A010200 30690
028 A020200 0
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<PAGE> PAGE 4
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037 000200 Y
038 000200 56
039 000200 N
040 000200 N
041 000200 N
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071 A000200 120731
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072 C000200 1076
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<PAGE> PAGE 5
072 O000200 0
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<PAGE> PAGE 6
074 X000200 24030
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028 A010300 38515
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037 000300 Y
038 000300 34
039 000300 N
040 000300 N
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<PAGE> PAGE 7
062 N000300 0.0
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070 A010300 Y
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070 D020300 N
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070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 N
070 L020300 N
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 54153
071 B000300 12954
071 C000300 123857
071 D000300 21
072 A000300 6
072 B000300 207
072 C000300 470
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<PAGE> PAGE 8
072 G000300 0
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072 X000300 901
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072 Z000300 -224
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074 N000300 139572
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074 P000300 80
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<PAGE> PAGE 9
074 R040300 307
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074 T000300 139171
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074 V010300 18.19
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076 000300 0.00
028 A010400 5458
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028 F040400 814
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062 A000400 N
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<PAGE> PAGE 10
062 J000400 0.0
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062 O000400 0.0
062 P000400 0.0
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062 R000400 0.0
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 Y
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 Y
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 N
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 N
070 O020400 N
070 P010400 Y
<PAGE> PAGE 11
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 24101
071 B000400 18549
071 C000400 27742
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<PAGE> PAGE 12
074 F000400 31381
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024 000500 N
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<PAGE> PAGE 13
028 F030500 0
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<PAGE> PAGE 14
048 I020500 0.000
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050 000500 N
051 000500 N
052 000500 N
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054 A000500 Y
054 B000500 Y
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054 D000500 N
054 E000500 N
054 F000500 N
054 G000500 N
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054 K000500 N
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056 000500 Y
057 000500 N
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<PAGE> PAGE 15
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067 000500 N
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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SIGNATURE THOMAS F. MCDONOUGH
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from the Scudder Small Company Value Fund
Semiannual Report for the six month period ended
February 28, 1998 and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>1
<NAME> SCUDDER SMALL COMPANY VALUE FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1998
<PERIOD-START> SEP-01-1997
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 207,276,906
<INVESTMENTS-AT-VALUE> 252,030,081
<RECEIVABLES> 985,108
<ASSETS-OTHER> 66,594
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 253,081,783
<PAYABLE-FOR-SECURITIES> 4,559,271
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 417,467
<TOTAL-LIABILITIES> 4,976,738
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 197,352,887
<SHARES-COMMON-STOCK> 11,297,988
<SHARES-COMMON-PRIOR> 6,303,515
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (51,178)
<ACCUMULATED-NET-GAINS> 6,050,161
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 44,753,175
<NET-ASSETS> 248,105,045
<DIVIDEND-INCOME> 1,076,216
<INTEREST-INCOME> 317,515
<OTHER-INCOME> 0
<EXPENSES-NET> 1,266,105
<NET-INVESTMENT-INCOME> 127,626
<REALIZED-GAINS-CURRENT> 6,578,046
<APPREC-INCREASE-CURRENT> 16,575,276
<NET-CHANGE-FROM-OPS> 23,280,948
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (197,998)
<DISTRIBUTIONS-OF-GAINS> (2,969,965)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,216,536
<NUMBER-OF-SHARES-REDEEMED> (1,370,215)
<SHARES-REINVESTED> 148,152
<NET-CHANGE-IN-ASSETS> 124,706,223
<ACCUMULATED-NII-PRIOR> 19,194
<ACCUMULATED-GAINS-PRIOR> 2,442,080
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 710,032
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,266,105
<AVERAGE-NET-ASSETS> 193,143,695
<PER-SHARE-NAV-BEGIN> 19.58
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 2.67
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> (0.30)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 21.96
<EXPENSE-RATIO> 1.32
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Scudder Micro Cap Fund Semiannual Report for the six month period ended February
28, 1998 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> SCUDDER MICRO CAP FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1998
<PERIOD-START> SEP-01-1997
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 115,111,644
<INVESTMENTS-AT-VALUE> 139,417,989
<RECEIVABLES> 144,129
<ASSETS-OTHER> 10,082
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 139,572,200
<PAYABLE-FOR-SECURITIES> 13,842
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 387,731
<TOTAL-LIABILITIES> 401,573
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 111,218,863
<SHARES-COMMON-STOCK> 7,650,726
<SHARES-COMMON-PRIOR> 5,463,768
<ACCUMULATED-NII-CURRENT> (224,126)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,869,545
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,306,345
<NET-ASSETS> 139,174,627
<DIVIDEND-INCOME> 469,691
<INTEREST-INCOME> 207,012
<OTHER-INCOME> 0
<EXPENSES-NET> 900,829
<NET-INVESTMENT-INCOME> (224,126)
<REALIZED-GAINS-CURRENT> 3,945,007
<APPREC-INCREASE-CURRENT> 5,614,201
<NET-CHANGE-FROM-OPS> 9,335,082
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (535,902)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,336,673
<NUMBER-OF-SHARES-REDEEMED> (1,179,992)
<SHARES-REINVESTED> 30,277
<NET-CHANGE-IN-ASSETS> 47,543,223
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 460,440
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 491,505
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 900,829
<AVERAGE-NET-ASSETS> 132,141,875
<PER-SHARE-NAV-BEGIN> 16.77
<PER-SHARE-NII> (0.03)
<PER-SHARE-GAIN-APPREC> 1.50
<PER-SHARE-DIVIDEND> (0.07)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.02
<PER-SHARE-NAV-END> 18.19
<EXPENSE-RATIO> 1.37
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE>6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
21St Century Growth Fund Annual Report for the fiscal year ended 2/28/97 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>4
<NAME>Scudder 21st Century Growth Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-03-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 14,197,754
<INVESTMENTS-AT-VALUE> 13,530,962
<RECEIVABLES> 644,576
<ASSETS-OTHER> 22,815
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 14,198,353
<PAYABLE-FOR-SECURITIES> 302,503
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 208,277
<TOTAL-LIABILITIES> 510,780
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 14,896,233
<SHARES-COMMON-STOCK> 1,237,706
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (34,937)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (506,931)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (666,792)
<NET-ASSETS> 13,687,573
<DIVIDEND-INCOME> 4,799
<INTEREST-INCOME> 25,257
<OTHER-INCOME> 0
<EXPENSES-NET> 64,993
<NET-INVESTMENT-INCOME> (34,937)
<REALIZED-GAINS-CURRENT> (506,931)
<APPREC-INCREASE-CURRENT> (666,792)
<NET-CHANGE-FROM-OPS> (1,208,660)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,308,988
<NUMBER-OF-SHARES-REDEEMED> (71,382)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 13,686,373
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 37,719
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 192,851
<AVERAGE-NET-ASSETS> 7,829,858
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> (0.05)
<PER-SHARE-GAIN-APPREC> (0.89)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.06
<EXPENSE-RATIO> 1.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Scudder Financial Services Fund Semiannual Report for the six month period ended
February 28, 1998 and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> SCUDDER FINANCIAL SERVICES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1998
<PERIOD-START> NOV-03-1997
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 24,741,827
<INVESTMENTS-AT-VALUE> 27,716,289
<RECEIVABLES> 357,266
<ASSETS-OTHER> 27,227
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 28,100,782
<PAYABLE-FOR-SECURITIES> 528,481
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 205,441
<TOTAL-LIABILITIES> 733,922
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 24,433,699
<SHARES-COMMON-STOCK> 2,000,524
<SHARES-COMMON-PRIOR> 100
<ACCUMULATED-NII-CURRENT> (15,531)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (25,770)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,974,462
<NET-ASSETS> 27,366,860
<DIVIDEND-INCOME> 102,221
<INTEREST-INCOME> 25,713
<OTHER-INCOME> 0
<EXPENSES-NET> 102,116
<NET-INVESTMENT-INCOME> 25,818
<REALIZED-GAINS-CURRENT> (25,770)
<APPREC-INCREASE-CURRENT> 2,974,462
<NET-CHANGE-FROM-OPS> 2,974,510
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (41,349)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,088,993
<NUMBER-OF-SHARES-REDEEMED> (91,768)
<SHARES-REINVESTED> 3,199
<NET-CHANGE-IN-ASSETS> 27,365,660
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 51,796
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 216,364
<AVERAGE-NET-ASSETS> 21,057,130
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> 2.00
<PER-SHARE-GAIN-APPREC> 1.69
<PER-SHARE-DIVIDEND> (2.50)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.68
<EXPENSE-RATIO> 1.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
