<PAGE> PAGE 1
000 A000000 05/31/97
000 C000000 0000894632
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 PAINEWEBBER SECURITIES TRUST
001 B000000 811-7374
001 C000000 2127131074
002 A000000 1285 AVE OF THE AMERICAS
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10019
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 PAINEWEBBER STRATEGIC INCOME FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
008 B00AA01 A
008 C00AA01 801-13219
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10019
010 A00AA01 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
010 B00AA01 801-13219
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10019
011 A00AA01 PAINEWEBBER INC.
011 B00AA01 8-16267
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10019
012 A00AA01 PFPC INCORPORATED
<PAGE> PAGE 2
012 B00AA01 84-0000000
012 C01AA01 WILMINGTON
012 C02AA01 DE
012 C03AA01 19809
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
014 A00AA01 PAINEWEBBER INC.
014 B00AA01 8-16267
014 A00AA02 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
014 B00AA02 8-21901
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 NORTH QUINCY
015 C02AA01 MA
015 C03AA01 02171
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 65
019 C00AA00 PAINEWEBBE
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 SALOMON BROTHERS INC.
022 B000001 13-3082694
022 C000001 87232
022 D000001 2278
022 A000002 STATE STREET BANK AND TRUST CO.
022 B000002 04-1867445
022 C000002 82834
022 D000002 5300
022 A000003 CITICORP SECURITIES MARKETS INC.
022 B000003 13-5266470
022 C000003 80929
022 D000003 0
022 A000004 DRESDNER (USA) SECURITIES
022 B000004 13-6172414
022 C000004 49561
022 D000004 0
022 A000005 FIRST CHICAGO CAPITAL MARKETS
022 B000005 36-3595492
<PAGE> PAGE 3
022 C000005 19122
022 D000005 0
022 A000006 DAIWA SECURITIES AMERICA INC.
022 B000006 13-5680329
022 C000006 8191
022 D000006 0
022 A000007 AUTRANET, INC.
022 C000007 5969
022 D000007 1632
022 A000008 DONALDSON, LUFKIN & JENRETTE
022 B000008 13-2741729
022 C000008 4174
022 D000008 2387
022 A000009 CS FIRST BOSTON CORPORATION
022 C000009 3615
022 D000009 2883
022 A000010 MORGAN STANLEY AND CO., INC.
022 B000010 13-2655998
022 C000010 2835
022 D000010 1720
023 C000000 366583
023 D000000 42573
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
028 A01AA00 1081
028 A02AA00 178
028 A03AA00 0
028 A04AA00 2209
028 B01AA00 1513
028 B02AA00 174
028 B03AA00 0
028 B04AA00 1752
028 C01AA00 1826
028 C02AA00 171
<PAGE> PAGE 4
028 C03AA00 0
028 C04AA00 1965
028 D01AA00 1205
028 D02AA00 170
028 D03AA00 0
028 D04AA00 1622
028 E01AA00 1349
028 E02AA00 169
028 E03AA00 0
028 E04AA00 2342
028 F01AA00 3554
028 F02AA00 165
028 F03AA00 0
028 F04AA00 1104
028 G01AA00 10528
028 G02AA00 1027
028 G03AA00 0
028 G04AA00 10994
028 H00AA00 1541
029 00AA00 Y
030 A00AA00 33
030 B00AA00 4.00
030 C00AA00 0.00
031 A00AA00 31
031 B00AA00 0
032 00AA00 0
033 00AA00 2
034 00AA00 Y
035 00AA00 58
036 A00AA00 N
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 100
043 00AA00 250
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.750
048 A01AA00 0
<PAGE> PAGE 5
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 Y
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
062 A00AA00 Y
<PAGE> PAGE 6
062 B00AA00 2.3
062 C00AA00 0.0
062 D00AA00 7.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 2.4
062 M00AA00 0.0
062 N00AA00 25.2
062 O00AA00 0.0
062 P00AA00 43.3
062 Q00AA00 25.7
062 R00AA00 2.4
063 A00AA00 0
063 B00AA00 12.7
064 A00AA00 N
064 B00AA00 Y
065 00AA00 N
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 Y
070 A02AA00 Y
070 B01AA00 N
070 B02AA00 N
070 C01AA00 Y
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 Y
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 Y
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 Y
070 K01AA00 Y
070 K02AA00 Y
070 L01AA00 Y
070 L02AA00 Y
<PAGE> PAGE 7
070 M01AA00 Y
070 M02AA00 Y
070 N01AA00 Y
070 N02AA00 Y
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 Y
070 P02AA00 N
070 Q01AA00 Y
070 Q02AA00 N
070 R01AA00 Y
070 R02AA00 N
071 A00AA00 37218
071 B00AA00 34433
071 C00AA00 59522
071 D00AA00 58
072 A00AA00 6
072 B00AA00 2837
072 C00AA00 0
072 D00AA00 0
072 E00AA00 0
072 F00AA00 235
072 G00AA00 0
072 H00AA00 0
072 I00AA00 31
072 J00AA00 14
072 K00AA00 17
072 L00AA00 41
072 M00AA00 6
072 N00AA00 50
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 0
072 R00AA00 30
072 S00AA00 30
072 T00AA00 250
072 U00AA00 30
072 V00AA00 0
072 W00AA00 11
072 X00AA00 745
072 Y00AA00 0
072 Z00AA00 2092
072AA00AA00 930
072BB00AA00 132
072CC01AA00 0
072CC02AA00 836
072DD01AA00 412
072DD02AA00 1692
072EE00AA00 0
073 A01AA00 0.0000
073 A02AA00 0.0000
<PAGE> PAGE 8
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 0
074 B00AA00 4533
074 C00AA00 1499
074 D00AA00 61108
074 E00AA00 0
074 F00AA00 953
074 G00AA00 0
074 H00AA00 0
074 I00AA00 2094
074 J00AA00 0
074 K00AA00 0
074 L00AA00 1101
074 M00AA00 405
074 N00AA00 71693
074 O00AA00 4834
074 P00AA00 83
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 1971
074 S00AA00 0
074 T00AA00 64805
074 U01AA00 1376
074 U02AA00 5548
074 V01AA00 0.00
074 V02AA00 0.00
074 W00AA00 0.0000
074 X00AA00 3838
074 Y00AA00 26542
075 A00AA00 0
075 B00AA00 62833
076 00AA00 0.00
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
<PAGE> PAGE 9
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 C00AA00 0
081 B00AA00 0
082 B00AA00 0
083 B00AA00 0
084 B00AA00 0
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE PAUL SCHUBERT
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000894632
<NAME> PAINEWEBBER SECURITIES TRUST
<SERIES>
<NUMBER> 1
<NAME> PAINEWEBBER STRATEGIC INCOME FUND-CLASS A
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1997
<PERIOD-START> DEC-01-1996
<PERIOD-END> MAY-31-1997
<INVESTMENTS-AT-COST> 13,675
<INVESTMENTS-AT-VALUE> 13,961
<RECEIVABLES> 219
<ASSETS-OTHER> 11
<OTHER-ITEMS-ASSETS> 70
<TOTAL-ASSETS> 14,281
<PAYABLE-FOR-SECURITIES> 961
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 409
<TOTAL-LIABILITIES> 1,370
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 14,119
<SHARES-COMMON-STOCK> 1,376
<SHARES-COMMON-PRIOR> 1,061
<ACCUMULATED-NII-CURRENT> 6
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,309)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 75
<NET-ASSETS> 12,891
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 511
<OTHER-INCOME> 0
<EXPENSES-NET> (103)
<NET-INVESTMENT-INCOME> 408
<REALIZED-GAINS-CURRENT> 135
<APPREC-INCREASE-CURRENT> (131)
<NET-CHANGE-FROM-OPS> 412
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (412)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 514
<NUMBER-OF-SHARES-REDEEMED> (221)
<SHARES-REINVESTED> 22
<NET-CHANGE-IN-ASSETS> 2,947
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (1,421)
<OVERDISTRIB-NII-PRIOR> (13)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 42
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 103
<AVERAGE-NET-ASSETS> 11,322
<PER-SHARE-NAV-BEGIN> 9.37
<PER-SHARE-NII> 0.34
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.34)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.37
<EXPENSE-RATIO> 1.83
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000894632
<NAME> PAINEWEBBER SECURITIES TRUST
<SERIES>
<NUMBER> 1
<NAME> PAINEWEBBER STRATEGIC INCOME FUND-CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1997
<PERIOD-START> DEC-01-1996
<PERIOD-END> MAY-31-1997
<INVESTMENTS-AT-COST> 37,210
<INVESTMENTS-AT-VALUE> 37,989
<RECEIVABLES> 596
<ASSETS-OTHER> 29
<OTHER-ITEMS-ASSETS> 190
<TOTAL-ASSETS> 38,804
<PAYABLE-FOR-SECURITIES> 2,616
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,112
<TOTAL-LIABILITIES> 3,728
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 38,369
<SHARES-COMMON-STOCK> 3,749
<SHARES-COMMON-PRIOR> 3,979
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (80)
<ACCUMULATED-NET-GAINS> (4,477)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,264
<NET-ASSETS> 35,076
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,582
<OTHER-INCOME> 0
<EXPENSES-NET> (451)
<NET-INVESTMENT-INCOME> 1,131
<REALIZED-GAINS-CURRENT> 451
<APPREC-INCREASE-CURRENT> (487)
<NET-CHANGE-FROM-OPS> 1,095
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,136)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 450
<NUMBER-OF-SHARES-REDEEMED> (730)
<SHARES-REINVESTED> 50
<NET-CHANGE-IN-ASSETS> (2,173)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (5,323)
<OVERDISTRIB-NII-PRIOR> (50)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 131
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 451
<AVERAGE-NET-ASSETS> 35,041
<PER-SHARE-NAV-BEGIN> 9.36
<PER-SHARE-NII> 0.30
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.30)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.36
<EXPENSE-RATIO> 2.58
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000894632
<NAME> PAINEWEBBER SECURITIES TRUST
<SERIES>
<NUMBER> 1
<NAME> PAINEWEBBER STRATEGIC INCOME FUND-CLASS C
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1997
<PERIOD-START> DEC-01-1996
<PERIOD-END> MAY-31-1997
<INVESTMENTS-AT-COST> 17,863
<INVESTMENTS-AT-VALUE> 18,237
<RECEIVABLES> 286
<ASSETS-OTHER> 14
<OTHER-ITEMS-ASSETS> 91
<TOTAL-ASSETS> 18,628
<PAYABLE-FOR-SECURITIES> 1,256
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 534
<TOTAL-LIABILITIES> 1,790
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 19,260
<SHARES-COMMON-STOCK> 1,799
<SHARES-COMMON-PRIOR> 1,826
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (23)
<ACCUMULATED-NET-GAINS> (2,604)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 205
<NET-ASSETS> 16,838
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 744
<OTHER-INCOME> 0
<EXPENSES-NET> (191)
<NET-INVESTMENT-INCOME> 553
<REALIZED-GAINS-CURRENT> 212
<APPREC-INCREASE-CURRENT> (218)
<NET-CHANGE-FROM-OPS> 547
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (556)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 232
<NUMBER-OF-SHARES-REDEEMED> (296)
<SHARES-REINVESTED> 38
<NET-CHANGE-IN-ASSETS> (263)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (2,444)
<OVERDISTRIB-NII-PRIOR> (23)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 62
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 191
<AVERAGE-NET-ASSETS> 16,470
<PER-SHARE-NAV-BEGIN> 9.37
<PER-SHARE-NII> 0.31
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.32)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.36
<EXPENSE-RATIO> 2.33
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
