<PAGE> PAGE 1
000 B000000 09/30/98
000 C000000 0000929922
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 UNITED ASSET STRATEGY FUND, INC.
001 B000000 811-7217
001 C000000 9132362000
002 A000000 6300 LAMAR AVENUE P.O. BOX 29217
002 B000000 SHAWNEE MISSION
002 C000000 KS
002 D010000 66201
002 D020000 9217
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
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 A000001 WADDELL & REED INVESTMENT MANAGEMENT COMPANY
008 B000001 A
008 C000001 801-40372
008 D010001 OVERLAND PARK
008 D020001 KS
008 D030001 66202
008 D040001 4200
010 A000001 WADDELL & REED SERVICES COMPANY
010 B000001 84-1062
010 C010001 OVERLAND PARK
010 C020001 KS
010 C030001 66202
010 C040001 4200
011 A000001 WADDELL & REED, INC.
011 B000001 8-15372
011 C010001 OVERLAND PARK
011 C020001 KS
011 C030001 66202
<PAGE> PAGE 2
011 C040001 4200
012 A000001 WADDELL & REED SERVICES COMPANY
012 B000001 84-1062
012 C010001 OVERLAND PARK
012 C020001 KS
012 C030001 66202
012 C040001 4200
013 A000001 DELOITTE & TOUCHE LLP
013 B010001 KANSAS CITY
013 B020001 MO
013 B030001 64106
013 B040001 2232
015 A000001 UMB BANK, N.A.
015 B000001 C
015 C010001 KANSAS CITY
015 C020001 MO
015 C030001 64141
015 C040001 6226
015 E010001 X
015 A000003 UNITED MISSOURI TRUST COMPANY OF NEW YORK
015 B000003 S
015 C010003 NEW YORK
015 C020003 NY
015 C030003 10004
015 E010003 X
015 A000004 BROWN BROTHERS HARRIMAN & CO.
015 B000004 S
015 C010004 BOSTON
015 C020004 MA
015 C030004 02109
015 E010004 X
015 A000009 SKANDINAVISKA ENSKILDA BANKEN
015 B000009 S
015 C010009 STOCKHOLM
015 D010009 SWEDEN
015 E040009 X
018 000000 Y
019 A000000 Y
019 B000000 36
019 C000000 UNITDGROUP
020 A000001 INSTINET CORPORATION
020 B000001 13-3443395
020 C000001 14
020 A000002 BAUM (GEORGE K.) & COMPANY
020 B000002 44-0522232
020 C000002 3
020 A000003 CREDIT SUISSE FIRST BOSTON CORPORATION (THE)
020 B000003 13-5659485
020 C000003 3
020 A000004 BEAR, STEARNS & CO., INC.
020 B000004 13-3299429
<PAGE> PAGE 3
020 C000004 2
020 A000005 BT ALEX. BROWN, INCORPORATED
020 B000005 52-1319768
020 C000005 2
020 A000006 DONALDSON LUFKIN & JENRETTE SECURITIES CORP.
020 B000006 13-2741729
020 C000006 2
020 A000007 BLAIR (WILLIAM) & COMPANY, L.L.C.
020 B000007 36-2214610
020 C000007 2
020 A000008 PAINEWEBBER INCORPORATED
020 B000008 13-2638166
020 C000008 2
020 A000009 ROBINSON-HUMPHREY COMPANY, INC. (THE)
020 B000009 58-1472560
020 C000009 2
020 A000010 BANCAMERICA ROBERTSON STEPHENS
020 B000010 94-2524501
020 C000010 1
021 000000 44
022 A000001 GENERAL MILLS, INC.
022 C000001 16584
022 D000001 16148
022 A000002 MORGAN (J.P.) SECURITIES INC.
022 B000002 13-3224016
022 C000002 24957
022 D000002 6545
022 A000003 SARA LEE CORPORATION
022 C000003 11770
022 D000003 12269
022 A000004 DANAHER CORPORATION
022 C000004 9506
022 D000004 9380
022 A000005 GOLDMAN, SACHS & CO.
022 B000005 13-5108880
022 C000005 10279
022 D000005 3463
022 A000006 MERCANTILE BANK, N.A.
022 B000006 43-0830568
022 C000006 9046
022 D000006 0
022 A000007 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000007 13-5674085
022 C000007 7451
022 D000007 1473
022 A000008 BANCAMERICA ROBERTSON STEPHENS
022 B000008 94-2524501
022 C000008 5970
022 D000008 1222
022 A000009 CITICORP SECURITIES, INC.
022 C000009 5532
<PAGE> PAGE 4
022 D000009 0
022 A000010 MORGAN STANLEY & CO. INCORPORATED
022 B000010 13-2655998
022 C000010 2696
022 D000010 1686
023 C000000 123437
023 D000000 59829
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
028 A010000 715
028 A020000 0
028 A030000 0
028 A040000 547
028 B010000 436
028 B020000 0
028 B030000 0
028 B040000 299
028 C010000 457
028 C020000 131
028 C030000 0
028 C040000 374
028 D010000 827
028 D020000 0
028 D030000 0
028 D040000 347
028 E010000 1242
028 E020000 0
028 E030000 0
028 E040000 565
028 F010000 1485
028 F020000 221
028 F030000 0
028 F040000 344
028 G010000 5162
<PAGE> PAGE 5
028 G020000 352
028 G030000 0
028 G040000 2476
028 H000000 3450
029 000000 Y
030 A000000 215
030 B000000 5.75
030 C000000 0.00
031 A000000 91
031 B000000 0
032 000000 0
033 000000 124
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 73
044 000000 0
045 000000 Y
046 000000 N
047 000000 N
048 000000 0.000
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
<PAGE> PAGE 6
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 Y
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 50
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
<PAGE> PAGE 7
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 Y
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 Y
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 54190
<PAGE> PAGE 8
071 B000000 55122
071 C000000 23552
071 D000000 230
072 A000000 12
072 B000000 1100
072 C000000 125
072 D000000 0
072 E000000 0
072 F000000 208
072 G000000 20
072 H000000 0
072 I000000 82
072 J000000 7
072 K000000 0
072 L000000 0
072 M000000 1
072 N000000 29
072 O000000 3
072 P000000 0
072 Q000000 0
072 R000000 12
072 S000000 3
072 T000000 73
072 U000000 10
072 V000000 0
072 W000000 39
072 X000000 487
072 Y000000 0
072 Z000000 738
072AA000000 4867
072BB000000 2583
072CC010000 0
072CC020000 751
072DD010000 833
072DD020000 10
072EE000000 2211
073 A010000 0.1650
073 A020000 0.1850
073 B000000 0.4650
073 C000000 0.0000
074 A000000 2
074 B000000 0
074 C000000 5895
074 D000000 18464
074 E000000 0
074 F000000 8037
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 430
074 K000000 143
<PAGE> PAGE 9
074 L000000 227
074 M000000 16
074 N000000 33214
074 O000000 0
074 P000000 32
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 71
074 S000000 0
074 T000000 33111
074 U010000 5682
074 U020000 42
074 V010000 5.78
074 V020000 5.78
074 W000000 0.0000
074 X000000 4537
074 Y000000 0
075 A000000 0
075 B000000 30025
076 000000 0.00
077 A000000 Y
077 B000000 Y
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
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 C000000 20400
081 A000000 Y
081 B000000 35
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
<PAGE> PAGE 10
084 B000000 0
085 A000000 Y
085 B000000 N
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 THEODORE W. HOWARD
TITLE V.P. & TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT TO
SHAREHOLDERS DATED SEPTEMBER 30, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000929922
<NAME> UNITED ASSET STRATEGY FUND, INC.
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> SEP-30-1998
<INVESTMENTS-AT-COST> 30,921
<INVESTMENTS-AT-VALUE> 32,396
<RECEIVABLES> 800
<ASSETS-OTHER> 16
<OTHER-ITEMS-ASSETS> 2
<TOTAL-ASSETS> 33,214
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 103
<TOTAL-LIABILITIES> 103
<SENIOR-EQUITY> 57
<PAID-IN-CAPITAL-COMMON> 30,139
<SHARES-COMMON-STOCK> 5,724
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 29
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,411
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,475
<NET-ASSETS> 33,111
<DIVIDEND-INCOME> 125
<INTEREST-INCOME> 1,100
<OTHER-INCOME> 0
<EXPENSES-NET> (487)
<NET-INVESTMENT-INCOME> 738
<REALIZED-GAINS-CURRENT> 2,284
<APPREC-INCREASE-CURRENT> (751)
<NET-CHANGE-FROM-OPS> 2,271
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (843)
<DISTRIBUTIONS-OF-GAINS> (2,211)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,331
<NUMBER-OF-SHARES-REDEEMED> (935)
<SHARES-REINVESTED> 3,033
<NET-CHANGE-IN-ASSETS> 4,568
<ACCUMULATED-NII-PRIOR> 137
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 208
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 487
<AVERAGE-NET-ASSETS> 30,025
<PER-SHARE-NAV-BEGIN> 5.99
<PER-SHARE-NII> .15
<PER-SHARE-GAIN-APPREC> .28
<PER-SHARE-DIVIDEND> (.17)
<PER-SHARE-DISTRIBUTIONS> (.47)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 5.78
<EXPENSE-RATIO> 1.62
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
