PAGE 1 000 B000000 10/31/2016 000 C000000 0001503290 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 Avenue Income Credit Strategies Fund 001 B000000 811-22485 001 C000000 2128783500 002 A000000 399 Park Avenue, 6th Floor 002 B000000 New York 002 C000000 NY 002 D010000 10022 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 N 007 B000000 0 007 C010100 1 008 A000001 AVENUE CAPITAL MANAGEMENT II, L.P. 008 B000001 A 008 C000001 801-57734 008 D010001 NEW YORK 008 D020001 NY 008 D030001 10022 010 A000001 STATE STREET BANK & TRUST COMPANY 010 B000001 85-05003 010 C010001 BOSTON 010 C020001 MA 010 C030001 02111 012 A000001 STATE STREET BANK & TRUST COMPANY 012 B000001 85-05003 012 C010001 BOSTON 012 C020001 MA 012 C030001 02111 013 A000001 PRICEWATERHOUSECOOPERS LLP 013 B010001 NEW YORK 013 B020001 NY 013 B030001 10017 014 A000001 MORGAN STANLEY & CO. INCORPORATED 014 B000001 8-15869 015 A000001 STATE STREET BANK & TRUST COMPANY 015 B000001 C 015 C010001 BOSTON 015 C020001 MA 015 C030001 02111 015 E010001 X PAGE 2 015 A000002 CLEARSTREAM BANKING 015 B000002 S 015 C010002 LUXEMBOURG 015 D010002 LUXEMBOURG 015 E040002 X 015 A000003 CANADA SELF CUSTODY - CDSX 015 B000003 S 015 C010003 TOROTO 015 D010003 CANADA 015 D020003 M5V 3L3 015 E040003 X 015 A000004 EUROCLEAR 015 B000004 S 015 C010004 BRUSSELS 015 D010004 BELGIUM 015 D020004 1101 HE 015 E040004 X 015 A000005 CANADA SELF CUSTODY - PHYSICAL 015 B000005 S 015 C010005 TORONTO 015 D010005 CANADA 015 D020005 M5V 3L3 015 E040005 X 015 A000006 CREDIT SUISSE AG 015 B000006 S 015 C010006 ZURICH 015 D010006 SWITZERLAND 015 D020006 8070 015 E040006 X 015 A000007 DEUTSCHE BANK SOCIEDAD ANOMINA ESPANOLA 015 B000007 S 015 C010007 BARCELONA 015 D010007 SPAIN 015 D020007 28020 015 E040007 X 015 A000008 STATE STREET BANK LONDON - PHYSICAL 015 B000008 S 015 C010008 LONDON 015 D010008 UK 015 D020008 EH5 2AW 015 E040008 X 015 A000009 STATE STREET BK LONDON - CREST 015 B000009 S 015 C010009 LONDON 015 D010009 UNITED KINGDOM 015 D020009 EH5 2AW 015 E040009 X 015 A000010 Deutsche Bank S.p.A 015 B000010 S 015 C010010 MILAN 015 D010010 Italy PAGE 3 015 D020010 20121 015 E040010 X 015 A000011 DEUTSCHE BANK A.G., AMSTERDAM 015 B000011 S 015 C010011 AMSTERDAM 015 D010011 NETHERLANDS 015 D020011 1101 HE 015 E040011 X 015 A000012 NORDEA BANK AB (PUBL) 015 B000012 S 015 C010012 STOCKHOLM 015 D010012 SWEDEN 015 D020012 105 71 015 E040012 X 015 A000013 First Rand Bank Limited 015 B000013 S 015 C010013 Johannesburg 015 D010013 SOUTH AFRICA 015 D020013 2001 015 E040013 X 015 A000014 UNICREDIT BANK CZECH REPUBLIC & SLOVAKIA 015 B000014 S 015 C010014 PRAGUE 015 D010014 CZECH REPUBLIC 015 E040014 X 018 000000 Y 019 A000000 Y 019 B000000 2 019 C000000 AVECAPITAL 020 A000001 GOLDMAN SACHS 020 B000001 13-5108880 020 C000001 21 020 A000002 INSTINET LLC 020 B000002 13-2625132 020 C000002 9 020 A000003 CITIGROUP 020 B000003 13-3082694 020 C000003 6 020 A000004 CANTOR FITZGERALD 020 B000004 13-3680187 020 C000004 3 020 A000005 UBS SECURITIES LLC 020 B000005 13-3873456 020 C000005 3 020 A000006 DEUTSCHE BANK 020 B000006 13-2730828 020 C000006 2 020 A000007 CREDIT SUISSE 020 B000007 05-0546650 020 C000007 1 020 A000008 PERSHING LLC PAGE 4 020 B000008 13-2741729 020 C000008 1 020 A000009 BARCLAYS CAPITAL 020 B000009 13-3297824 020 C000009 1 020 A000010 JPMORGAN CHASE SECURITIES, INC. 020 B000010 13-3224016 020 C000010 0 021 000000 48 022 A000001 STATE STREET BANK & TRUST COMPANY 022 B000001 13-3542950 022 C000001 3172652 022 D000001 0 022 A000002 GOLDMAN SACHS 022 B000002 13-5108880 022 C000002 58975 022 D000002 37098 022 A000003 CREDIT SUISSE 022 B000003 05-0546650 022 C000003 35576 022 D000003 41805 022 A000004 BARCLAYS CAPITAL 022 B000004 13-3297824 022 C000004 22757 022 D000004 28978 022 A000005 CANTOR FITZGERALD 022 B000005 13-3680184 022 C000005 20957 022 D000005 27315 022 A000006 JPMORGAN CHASE SECURITIES, INC. 022 B000006 13-3224016 022 C000006 26667 022 D000006 13397 022 A000007 CITIGROUP 022 B000007 13-3082694 022 C000007 20852 022 D000007 14747 022 A000008 BANK OF AMERICA CORP. 022 B000008 95-4035346 022 C000008 23855 022 D000008 11188 022 A000009 DEUTSCHE BANK 022 B000009 13-2730328 022 C000009 15405 022 D000009 5346 022 A000010 PERSHING LLC 022 B000010 13-2741729 022 C000010 6028 022 D000010 7298 023 C000000 3410879 023 D000000 202941 PAGE 5 024 000000 Y 025 A000001 STATE STREET BANK & TRUST COMPANY 025 B000001 13-3542950 025 C000001 D 025 D000001 14093 026 A000000 N 026 B000000 N 026 C000000 N 026 D000000 N 026 E000000 N 026 F000000 N 026 G010000 N 026 G020000 N 026 H000000 N 027 000000 N 028 A010000 0 028 A020000 0 028 A030000 0 028 A040000 0 028 B010000 0 028 B020000 0 028 B030000 0 028 B040000 0 028 C010000 0 028 C020000 0 028 C030000 0 028 C040000 0 028 D010000 0 028 D020000 0 028 D030000 0 028 D040000 0 028 E010000 0 028 E020000 0 028 E030000 0 028 E040000 0 028 F010000 0 028 F020000 0 028 F030000 0 028 F040000 0 028 G010000 0 028 G020000 0 028 G030000 0 028 G040000 0 028 H000000 0 030 A000000 0 030 B000000 0.00 030 C000000 0.00 031 A000000 0 031 B000000 0 032 000000 0 033 000000 0 PAGE 6 035 000000 0 036 B000000 0 038 000000 0 042 A000000 0 042 B000000 0 042 C000000 0 042 D000000 0 042 E000000 0 042 F000000 0 042 G000000 0 042 H000000 0 043 000000 0 044 000000 0 045 000000 Y 046 000000 N 047 000000 Y 048 000000 1.250 048 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 0 048 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 N 053 A000000 Y 053 B000000 Y 053 C000000 N 054 A000000 Y 054 B000000 N 054 C000000 N 054 D000000 N 054 E000000 N PAGE 7 054 F000000 N 054 G000000 N 054 H000000 Y 054 I000000 N 054 J000000 Y 054 K000000 N 054 L000000 N 054 M000000 Y 054 N000000 N 054 O000000 N 055 A000000 N 055 B000000 Y 056 000000 Y 057 000000 N 058 A000000 N 059 000000 Y 060 A000000 N 060 B000000 N 061 000000 0 062 A000000 Y 062 B000000 0.0 062 C000000 0.0 062 D000000 7.4 062 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 0.4 062 P000000 104.9 062 Q000000 30.5 062 R000000 3.3 063 A000000 0 063 B000000 6.1 064 A000000 N 064 B000000 Y 065 000000 N 066 A000000 N 067 000000 N 068 A000000 N 068 B000000 N 069 000000 N 070 A010000 Y 070 A020000 Y 070 B010000 Y 070 B020000 N PAGE 8 070 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 Y 070 L010000 Y 070 L020000 Y 070 M010000 Y 070 M020000 Y 070 N010000 Y 070 N020000 N 070 O010000 Y 070 O020000 Y 070 P010000 Y 070 P020000 N 070 Q010000 Y 070 Q020000 N 070 R010000 Y 070 R020000 Y 071 A000000 242038 071 B000000 230230 071 C000000 242487 071 D000000 95 072 A000000 12 072 B000000 24418 072 C000000 65 072 D000000 0 072 E000000 0 072 F000000 3202 072 G000000 151 072 H000000 0 072 I000000 10 072 J000000 153 072 K000000 0 072 L000000 54 072 M000000 90 072 N000000 0 072 O000000 0 PAGE 9 072 P000000 1223 072 Q000000 0 072 R000000 135 072 S000000 198 072 T000000 0 072 U000000 0 072 V000000 0 072 W000000 175 072 X000000 5391 072 Y000000 43 072 Z000000 19135 072AA000000 0 072BB000000 17868 072CC010000 13946 072CC020000 0 072DD010000 17076 072DD020000 0 072EE000000 0 073 A010000 1.3100 073 A020000 0.0000 073 B000000 0.0000 073 C000000 0.1300 074 A000000 0 074 B000000 14093 074 C000000 0 074 D000000 259878 074 E000000 0 074 F000000 6177 074 G000000 0 074 H000000 0 074 I000000 192 074 J000000 755 074 K000000 0 074 L000000 5461 074 M000000 3303 074 N000000 289859 074 O000000 13083 074 P000000 298 074 Q000000 0 074 R010000 0 074 R020000 1368 074 R030000 0 074 R040000 83787 074 S000000 0 074 T000000 191323 074 U010000 13074 074 U020000 0 074 V010000 14.63 074 V020000 0.00 074 W000000 0.0000 074 X000000 7899 PAGE 10 074 Y000000 102034 075 A000000 0 075 B000000 175817 076 000000 12.60 077 A000000 Y 077 B000000 Y 077 C000000 Y 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 Y 077 P000000 N 077 Q010000 Y 077 Q020000 N 077 Q030000 N 078 000000 N 080 A000000 Federal Insurance Company 080 C000000 1250 081 A000000 Y 081 B000000 1 082 A000000 N 082 B000000 0 083 A000000 N 083 B000000 0 084 A000000 N 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 0 087 A010000 Common Stock 087 A020000 05358E106 087 A030000 ACP PAGE 11 088 A000000 N 088 B000000 N 088 C000000 N 088 D000000 N SIGNATURE STEPHEN M. ATKINS TITLE TREASURER/CFO