BlackRock, Inc. ownership in APEI / American Public Education, Inc.

美國公共教育公司

MX ˙ BMV ˙ US02913V1035

Security	MX:APEI / American Public Education, Inc.
Institution	BlackRock, Inc.
Latest Disclosed Ownership	1,202,326 shares
Ownership	6.70%

2025-04-17 - BlackRock, Inc. has filed an SCHEDULE 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 1,202,326 shares of American Public Education, Inc. (MX:APEI). This represents 6.7 percent ownership of the company. In their previous filing dated 2024-11-08 , BlackRock, Inc. had reported owning 1,562,019 shares, indicating a decrease of -23.03 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File Date	Effective Date	Form	Prev Shares	Latest Shares	ΔShares (Percent)	Ownership (Percent)	ΔOwnership (Percent)
2025-04-17	2025-04-17	13G/A	1,562,019	1,202,326	-23.03	6.70	-23.86
2024-11-08	2024-11-08	13G	1,562,019	1,562,019	0.00	8.80	0.00
2024-10-21	2024-10-21	13G		1,562,019		8.80
2023-07-07	2023-07-07	13G/A	1,259,604	729,659	-42.07	4.10	-38.81
2023-02-01	2023-02-01	13G/A	1,431,720	1,259,604	-12.02	6.70	-11.84
2022-10-07	2022-10-07	13G/A	3,116,146	1,431,720	-54.05	7.60	-54.49
2022-01-28	2022-01-28	13G/A	2,311,844	3,116,146	34.79	16.70	7.05
2021-01-25	2021-01-25	13G	2,421,900	2,311,844	-4.54	15.60	-0.64
2020-02-04	2020-02-04	13G/A	2,380,988	2,421,900	1.72	15.70	8.28
2019-01-24	2019-01-24	13G/A	2,095,426	2,380,988	13.63	14.50	12.40
2018-01-19	2018-01-19	13G/A	1,892,912	2,095,426	10.70	12.90	9.32
2017-01-12	2017-01-12	13G/A	1,610,598	1,892,912	17.53	11.80	18.00
2016-05-10	2016-05-10	13G/A	1,584,912	1,610,598	1.62	10.00	3.09
2016-01-25	2016-01-25	13G/A		1,584,912		9.70
2015-01-22	2015-01-22	13G/A		1,505,713		8.70
2014-01-28	2014-01-28	13G/A		1,534,758		8.80
2013-02-08	2013-02-08	13G/A		1,337,324		7.40
2012-02-13	2012-02-13	13G/A		1,370,339		7.68

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

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	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-05-13	2026-03-31	13F	AMERICAN PUB ED	COM	02913V103	1,450,355	-50,091	-3.34	82,496	45.45	0.0001
2026-02-12	2025-12-31	13F	AMERICAN PUB ED	COM	02913V103	1,500,446	-58,562	-3.76	56,717	-7.83	0.0010
2025-11-12	2025-09-30	13F	AMERICAN PUB ED	COM	02913V103	1,559,008	-58,161	-3.60	61,534	24.92	0.0011
2025-08-12	2025-06-30	13F	AMERICAN PUB ED	COM	02913V103	1,617,169	50,097	3.20	49,259	40.83	0.0009
2025-05-02	2025-03-31	13F	AMERICAN PUB ED	COM	02913V103	1,567,072	-7,408	-0.47	34,977	2.99	0.0007
2025-02-07	2024-12-31	13F	AMERICAN PUB ED	COM	02913V103	1,574,480	12,461	0.80	33,962	47.41	0.0007
2024-11-13	2024-09-30	13F	AMERICAN PUB ED	COM	02913V103	1,562,019	99,362	6.79	23,040	-10.40	0.0005
2024-08-13	2024-06-30	13F	AMERICAN PUB ED	COM	02913V103	1,462,657	714,011	95.37	25,714	141.89	0.0006
2024-05-10	2024-03-31	13F	AMERICAN PUB ED	COM	02913V103	748,646	-40,792	-5.17	10,631	39.54	0.0002
2024-02-13	2023-12-31	13F	AMERICAN PUB ED	COM	02913V103	789,438	36,971	4.91	7,618	103.31	0.0002
2023-11-13	2023-09-30	13F	AMERICAN PUB ED	COM	02913V103	752,467	22,808	3.13	3,747	8.36	0.0001
2023-08-11	2023-06-30	13F	AMERICAN PUB ED	COM	02913V103	729,659	-939,982	-56.30	3,459	-61.79	0.0001
2023-05-12	2023-03-31	13F	AMERICAN PUB ED	COM	02913V103	1,669,641	410,037	32.55	9,049	-41.54	0.0003
2023-02-13	2022-12-31	13F	AMERICAN PUB ED	COM	02913V103	1,259,604	-172,116	-12.02	15,481	18.29	0.0005
2022-11-14	2022-09-30	13F	AMERICAN PUB ED	COM	02913V103	1,431,720	-1,712,067	-54.46	13,087	-74.24	0.0004
2022-08-12	2022-06-30	13F	AMERICAN PUB ED	COM	02913V103	3,143,787	23,191	0.74	50,803	-23.35	0.0016
2022-05-12	2022-03-31	13F	AMERICAN PUB ED	COM	02913V103	3,120,596	4,450	0.14	66,282	-4.40	0.0018
2022-02-10	2021-12-31	13F	AMERICAN PUB ED	COM	02913V103	3,116,146	136,136	4.57	69,334	-9.15	0.0018
2021-11-09	2021-09-30	13F	AMERICAN PUB ED	COM	02913V103	2,980,010	-18,662	-0.62	76,317	-10.20	0.0021
2021-08-11	2021-06-30	13F	AMERICAN PUB ED	COM	02913V103	2,998,672	168,620	5.96	84,981	-15.72	0.0024
2021-05-07	2021-03-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,830,052	518,208	22.42	100,834	43.09	0.0030
2021-02-05	2020-12-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,311,844	53,650	2.38	70,467	10.70	0.0022
2020-11-06	2020-09-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,258,194	-41,458	-1.80	63,658	-6.48	0.0023
2020-08-14	2020-06-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,299,652	-71,623	-3.02	68,070	19.96	0.0027
2020-05-01	2020-03-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,371,275	-50,625	-2.09	56,745	-14.46	0.0028
2020-02-13	2019-12-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,421,900	23,678	0.99	66,337	23.82	0.0025
2019-11-08	2019-09-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,398,222	-31,097	-1.28	53,577	-25.44	0.0023
2019-08-22	2019-06-30	13F/A-1	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,429,319	51,222	2.15	71,861	0.33	0.0031
2019-08-13	2019-06-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,429,319	51,222		71,861
2019-05-09	2019-03-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,378,097	-2,891	-0.12	71,628	5.70	0.0032
2019-02-08	2018-12-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,380,988	54,756	2.35	67,763	-11.86	0.0034
2018-11-09	2018-09-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,326,232	78,833	3.51	76,882	-18.74	0.0033
2018-08-09	2018-06-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,247,399	149,612	7.13	94,614	4.89	0.0044
2018-05-09	2018-03-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,097,787	2,361	0.11	90,207	71.86	0.0043
2018-02-09	2017-12-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,095,426	41,000	2.00	52,490	21.38	0.0025
2017-11-14	2017-09-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,054,426	56,658	2.84	43,246	-8.47	0.0022
2017-08-10	2017-06-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	1,997,768	-21,360	-1.06	47,248	2.18	0.0025
2017-05-12	2017-03-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	2,019,128	2,015,319	52,909.40	46,238	49,618.28	0.0025
2017-02-10	2016-12-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	3,809	-436	-10.27	93	10.71	0.0001
2016-11-08	2016-09-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	4,245	-169	-3.83	84	-32.26	0.0001
2016-08-10	2016-06-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	4,414	2,427	122.14	124	202.44	0.0002
2016-05-10	2016-03-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	1,987	495	33.18	41	46.43	0.0001
2016-02-11	2015-12-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	1,492	400	36.63	28	12.00	0.0000
2015-11-13	2015-09-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	1,092	600	121.95	25	108.33	0.0000
2015-08-07	2015-06-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	492	-50	-9.23	12	-25.00	0.0000
2015-05-13	2015-03-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	542	0	0.00	16	-20.00	0.0000
2015-02-09	2014-12-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	542	0	0.00	20	33.33	0.0000
2014-10-29	2014-09-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	542	0	0.00	15	-16.67	0.0000
2014-08-06	2014-06-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	542	-59	-9.82	18	-18.18	0.0000
2014-05-02	2014-03-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	601	0	0.00	22	-15.38	0.0000
2014-02-12	2013-12-31	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	601	0	0.00	26	13.04	0.0000
2013-11-12	2013-09-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	601	0	0.00	23	0.00	0.0000
2013-08-13	2013-06-30	13F	AMERICAN PUBLIC EDUCATION IN	COM	02913V103	601	601		23		0.0000

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.