AMERICAN PUBLIC EDUCATION IN

Ticker: APEI CUSIP: 02913V103 Class: Common Stock

Spark Investment Management LLC's Holding History (CIK: 0001554871)

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

Q1 2018

Shares 6,700 Value ($000) $288 Avg Close $30.67 Range $23.15 - $45.75

Q4 2017

Shares 35,900 Value ($000) $899 Avg Close $23.30 Range $19.30 - $27.40

Q3 2017

Shares 40,800 Value ($000) $858 Avg Close $20.33 Range $17.40 - $24.10

Q2 2017

Shares 40,800 Value ($000) $964 Avg Close $22.88 Range $20.65 - $26.30

Q1 2016

Shares 28,800 Value ($000) $594 Avg Close $17.56 Range $13.80 - $22.50

Q1 2014

Shares 11,700 Value ($000) $409 Avg Close $40.58 Range $33.47 - $46.62

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2018	6,700	$288	$30.67	$23.15 - $45.75
Q4 2017	35,900	$899	$23.30	$19.30 - $27.40
Q3 2017	40,800	$858	$20.33	$17.40 - $24.10
Q2 2017	40,800	$964	$22.88	$20.65 - $26.30
Q1 2016	28,800	$594	$17.56	$13.80 - $22.50
Q1 2014	11,700	$409	$40.58	$33.47 - $46.62