X0101 EFFECT 33 LIVE 2016-05-06 0001193125-16-580230 485APOS 0000764859 AMERICAN PENSION INVESTORS TRUST 002-96538 S000008424 API Efficient Frontier Growth Fund C000169018 Class C S000008425 API Efficient Frontier Capital Income Fund C000169019 Class C S000008426 API Efficient Frontier Core Income Fund C000169020 Class C S000008427 API Efficient Frontier Value Fund C000169021 Class C S000008428 API Efficient Frontier Income Fund C000169022 Class C S000025174 API Master Allocation Fund C000169023 Class C S000053763 YORKTOWN SMALL-CAP FUND C000169010 Class A S000053763 YORKTOWN SMALL-CAP FUND C000169011 Class C S000053763 YORKTOWN SMALL-CAP FUND C000169012 Class L S000053763 YORKTOWN SMALL-CAP FUND C000169013 Institutional Class S000053764 YORKTOWN MID-CAP FUND C000169014 Class A S000053764 YORKTOWN MID-CAP FUND C000169015 Class C S000053764 YORKTOWN MID-CAP FUND C000169016 Class L S000053764 YORKTOWN MID-CAP FUND C000169017 Institutional Class