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    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0000764859</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000025174</seriesId>
        <classId>C000075062</classId>
        <classId>C000127244</classId>
        <classId>C000075063</classId>
      </seriesClassInfo>


    </filerInfo>
  </headerData>
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    <genInfo>
      <regName>American Pension Investors Trust</regName>
      <regFileNumber>811-04262</regFileNumber>
      <regCik>0000764859</regCik>
      <regLei>549300XN7GOBVVCYXP64</regLei>
      <regStreet1>2303 Yorktown Ave.</regStreet1>
      <regCity>Lynchburg</regCity>
      <regStateConditional regCountry="US" regState="US-VA"/>
      <regZipOrPostalCode>24501</regZipOrPostalCode>
      <regPhone>434-846-1361</regPhone>
      <seriesName>YORKTOWN MASTER ALLOCATION FD</seriesName>
      <seriesId>S000025174</seriesId>
      <seriesLei>549300XN7GOBVVCYXP64</seriesLei>
      <repPdEnd>2023-01-31</repPdEnd>
      <repPdDate>2022-10-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>13180237.51</totAssets>
      <totLiabs>26455.32</totLiabs>
      <netAssets>13153782.19</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.00000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.00000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.00000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>0</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000075062" rtn1="-9.36306100" rtn2="-14.20486040" rtn3="-0.62181820"/>
          <monthlyTotReturn classId="C000127244" rtn1="-3.80855080" rtn2="-8.93534100" rtn3="5.40539360"/>
          <monthlyTotReturn classId="C000075063" rtn1="-3.83573080" rtn2="-9.02730000" rtn3="5.30772390"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="-68746.02000000" netUnrealizedAppr="-444299.15000000"/>
        <othMon2 netRealizedGain="0.00000000" netUnrealizedAppr="-1216718.50000000"/>
        <othMon3 netRealizedGain="-1053848.45000000" netUnrealizedAppr="1757069.85000000"/>
      </returnInfo>
      <mon1Flow redemption="338932.40000000" reinvestment="0.00000000" sales="11436.85000000"/>
      <mon2Flow redemption="95332.17000000" reinvestment="0.00000000" sales="289278.05000000"/>
      <mon3Flow redemption="427533.71000000" reinvestment="0.00000000" sales="207641.83000000"/>

    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>American Pension</name>
        <lei>N/A</lei>
        <title>Yorktown Capital Income Fund </title>
        <cusip>028837862</cusip>
        <identifiers>
          <isin value="US0288378625"/>
        </identifiers>
        <balance>16257.94000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>353610.33000000</valUSD>
        <pctVal>2.688278739090</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Pension</name>
        <lei>N/A</lei>
        <title>Yorktown Growth Fund </title>
        <cusip>028837813</cusip>
        <identifiers>
          <isin value="US0288378138"/>
        </identifiers>
        <balance>423332.01000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6184880.67000000</valUSD>
        <pctVal>47.01978929453</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Pension</name>
        <lei>N/A</lei>
        <title>Yorktown Small Cap Fund </title>
        <cusip>028837714</cusip>
        <identifiers>
          <isin value="US0288377148"/>
        </identifiers>
        <balance>429004.79000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6409331.68000000</valUSD>
        <pctVal>48.72615029974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Huntington Conservative Deposit Account </title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Dummy ID" value="HCDA"/>
        </identifiers>
        <balance>207226.81000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>207226.81000000</valUSD>
        <pctVal>1.575416157928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Deposit Account" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2022-10-31</ncom:dateSigned>
      <ncom:nameOfApplicant>American Pension Investors Trust</ncom:nameOfApplicant>
      <ncom:signature>Gregory Knoth</ncom:signature>
      <ncom:signerName>Gregory Knoth</ncom:signerName>
      <ncom:title>SVP, Mutual Fund Controller</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
