American Public Education, Inc.
MX ˙ BMV ˙ US02913V1035
SecurityMX:APEI / American Public Education, Inc.
InstitutionGeode Capital Management, Llc
Latest Disclosed Ownership483,130 shares
Latest Disclosed Value $ 27,486,751
Geode Capital Management, Llc reports 11.83% increase in ownership of APEI / American Public Education, Inc.

On May 15, 2026 - Geode Capital Management, Llc filed a 13F-HR form disclosing ownership of 483,130 shares of American Public Education, Inc. (MX:APEI) valued at $27,486,751 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 9, 2026 disclosing 432,003 shares of American Public Education, Inc.. This represents a change in shares of 11.83% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 483,130 51,127 11.83 27,487 68.29 0.0009
2026-02-09 2025-12-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 432,003 6,729 1.58 16,333 -2.71 0.0010
2025-11-12 2025-09-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 425,274 2,420 0.57 16,789 30.32 0.0011
2025-08-08 2025-06-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 422,854 17,079 4.21 12,882 42.22 0.0009
2025-05-13 2025-03-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 405,775 5,160 1.29 9,059 4.80 0.0007
2025-02-12 2024-12-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 400,615 -3,553 -0.88 8,643 44.97 0.0007
2024-11-12 2024-09-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 404,168 2,573 0.64 5,963 -15.56 0.0005
2024-08-09 2024-06-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 401,595 171,108 74.24 7,061 115.73 0.0006
2024-05-13 2024-03-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 230,487 7,303 3.27 3,274 51.95 0.0003
2024-02-13 2023-12-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 223,184 11,674 5.52 2,154 104.56 0.0002
2023-11-13 2023-09-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 211,510 6,905 3.37 1,054 8.67 0.0001
2023-08-11 2023-06-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 204,605 -177,977 -46.52 970 -53.26 0.0001
2023-05-15 2023-03-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 382,582 22,050 6.12 2,074 51,725.00 0.0003
2023-02-13 2022-12-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 360,532 18,226 5.32 4 -99.87 0.0006
2022-11-14 2022-09-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 342,306 3,120 0.92 3,128 -42.93 0.0005
2022-08-12 2022-06-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 339,186 6,217 1.87 5,481 -22.50 0.0008
2022-05-13 2022-03-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 332,969 -13,415 -3.87 7,072 -8.24 0.0009
2022-02-11 2021-12-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 346,384 -3,002 -0.86 7,707 -13.86 0.0009
2021-11-12 2021-09-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 349,386 2,649 0.76 8,947 -8.95 0.0012
2021-08-13 2021-06-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 346,737 44,320 14.66 9,826 -8.81 0.0014
2021-05-12 2021-03-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 302,417 61,635 25.60 10,775 46.84 0.0016
2021-02-12 2020-12-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 240,782 -1,588 -0.66 7,338 7.42 0.0012
2020-11-13 2020-09-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 242,370 -6,164 -2.48 6,831 -7.14 0.0013
2020-08-13 2020-06-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 248,534 -9,216 -3.58 7,356 19.28 0.0016
2020-05-14 2020-03-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 257,750 6,944 2.77 6,167 -10.21 0.0016
2020-02-20 2019-12-31 13F/A-1 AMERICAN PUBLIC EDUCATION COM 02913V103 250,806 -46,200 -15.56 6,868 3.53 0.0014
2020-02-13 2019-12-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 250,806 -46,200 6,868 875.2664
2019-11-12 2019-09-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 297,006 52,405 21.42 6,634 -8.29 0.0015
2019-08-14 2019-06-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 244,601 22,842 10.30 7,234 8.33 0.0018
2019-05-14 2019-03-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 221,759 21,106 10.52 6,678 16.97 0.0017
2019-03-06 2018-12-31 13F/A-1 AMERICAN PUBLIC EDUCATION COM 02913V103 200,653 10,411 5.47 5,709 -9.19 0.0018
2019-02-13 2018-12-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 200,653 10,411 5,709
2018-11-13 2018-09-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 190,242 -676 -0.35 6,287 -21.77 0.0018
2018-08-14 2018-06-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 190,918 34,468 22.03 8,037 19.47 0.0025
2018-05-15 2018-03-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 156,450 18,569 13.47 6,727 94.87 0.0022
2018-02-13 2017-12-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 137,881 -2,972 -2.11 3,452 16.46 0.0012
2017-11-14 2017-09-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 140,853 11,742 9.09 2,964 -2.92 0.0011
2017-08-14 2017-06-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 129,111 10,017 8.41 3,053 11.95 0.0012
2017-06-21 2017-03-31 13F/A-1 AMERICAN PUBLIC EDUCATION COM 02913V103 119,094 3,838 3.33 2,727 -3.57 0.0011
2017-05-12 2017-03-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 119,094 2,727
2017-02-14 2016-12-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 115,256 -42,880 -27.12 2,828 -9.71 0.0013
2016-11-10 2016-09-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 158,136 16,333 11.52 3,132 -21.39 0.0016
2016-08-12 2016-06-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 141,803 15,192 12.00 3,984 52.59 0.0022
2016-05-13 2016-03-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 126,611 14,469 12.90 2,611 25.17 0.0014
2016-02-12 2015-12-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 112,142 -3,708 -3.20 2,086 -23.17 0.0012
2015-11-13 2015-09-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 115,850 -1,103 -0.94 2,715 -9.71 0.0016
2015-08-14 2015-06-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 116,953 9,331 8.67 3,007 -6.76 0.0017
2015-05-14 2015-03-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 107,622 14,005 14.96 3,225 -6.55 0.0018
2015-02-12 2014-12-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 93,617 1,106 1.20 3,451 38.26 0.0021
2014-11-14 2014-09-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 92,511 -3,846 -3.99 2,496 -24.61 0.0016
2014-08-13 2014-06-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 96,357 -5,050 -4.98 3,311 -6.92 0.0021
2014-05-14 2014-03-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 101,407 13,049 14.77 3,557 -7.37 0.0024
2014-02-14 2013-12-31 13F AMERICAN PUBLIC EDUCATION COM 02913V103 88,358 7,873 9.78 3,840 26.23 0.0027
2013-11-14 2013-09-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 80,485 6,676 9.04 3,042 10.90 0.0024
2013-08-14 2013-06-30 13F AMERICAN PUBLIC EDUCATION COM 02913V103 73,809 73,809 2,743 0.0024
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.