AMERICAN PUBLIC EDUCATION IN

Ticker: APEI CUSIP: 02913V103 Class: Common Stock

PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC.'s Holding History (CIK: 0001238990)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 195,316 Value ($000) $7,383 Avg Close $35.80 Range $30.20 - $39.83

Q3 2025

Shares 195,316 Value ($000) $7,709 Avg Close $31.74 Range $27.74 - $39.73

Q2 2025

Shares 145,178 Value ($000) $4,422 Avg Close $26.44 Range $20.75 - $31.62

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	195,316	$7,383	$35.80	$30.20 - $39.83
Q3 2025	195,316	$7,709	$31.74	$27.74 - $39.73
Q2 2025	145,178	$4,422	$26.44	$20.75 - $31.62