No Street GP discloses 5.1% American Public Education (APEI) stake

Rhea-AI Filing Summary

No Street GP LP filed a Schedule 13G showing beneficial ownership of 925,000 shares of American Public Education, Inc. common stock, representing 5.1% of the class as of December 31, 2025. The percentage is based on 18,085,030 shares outstanding as of November 7, 2025, as reported by the company.

No Street GP LP reports sole power to vote and dispose of these 925,000 shares, with no shared voting or dispositive power. The firm holds these securities as investment adviser to one or more investment partnerships or pooled investment vehicles and states that the position is held in the ordinary course of business, without the purpose or effect of changing or influencing control of the issuer.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

AMERICAN PUBLIC EDUCATION INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

02913V103

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 02913V103

1

Names of Reporting Persons

No Street GP LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 925,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 925,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

925,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: AMERICAN PUBLIC EDUCATION INC
(b)	Address of issuer's principal executive offices: 111 W CONGRESS STREET, CHARLES TOWN, WEST VIRGINIA, 25414.
Item 2.
(a)	Name of person filing: No Street GP LP
(b)	Address or principal business office or, if none, residence: 505 Montgomery Street, Suite 1250, San Francisco, CA 94111
(c)	Citizenship: No Street GP LP - Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 02913V103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Reference is hereby made to Items 5-9 and 11 of this Schedule, which Items are incorporated by reference herein. No Street GP LP is filing this Schedule 13G because, as of December 31, 2025, it acted as the investment adviser of one or more investment partnerships or pooled investment vehicles that beneficially hold common units that equal the aggregate amount set forth on page 2 of this Schedule 13G (the "Securities"). As investment adviser, No Street GP LP has been granted the authority to dispose of and vote the Securities. The investment partnerships or pooled investment vehicles have the right to receive (or the power to direct the receipt of) dividends received in connection with ownership of the Securities, and the proceeds from the sale of the Securities. Under the definition of "beneficial ownership" in Rule 13d-3 under the Securities Exchange Act of 1934, it is also possible that one or more members, executive officers or employees of No Street GP LP might be deemed a "beneficial owner" of some or all of the securities to which this Schedule relates in that they might be deemed to share the power to direct the voting or disposition of such securities. Neither the filing of this Schedule nor any of its contents shall be deemed to constitute an admission that any of such individuals is, for any purpose, the beneficial owner of any of the securities to which this Schedule relates, and such beneficial ownership is expressly disclaimed. Further, any such person and/or other persons associated with the Reporting Person or its affiliates may beneficially own additional securities of the Issuer, which securities are not reflected in this Statement and Reporting Person, its affiliates and such persons expressly disclaim any "group" status or shared investment control with respect to such securities.
(b)	Percent of class: The calculation of percentage of beneficial ownership was derived from the Issuer's Quarterly Statement on Schedule 10-Q filed with the Securities and Exchange Commission on November 10, 2025, in which the Issuer stated that the number of Class A common stock outstanding as of November 7, 2025 was 18,085,030 shares.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 925,000
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 925,000
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. No Street GP LP is filing this Schedule 13G because, as the investment adviser of one or more investment partnerships or pooled investment vehicles that beneficially hold the Securities, No Street GP LP has been granted the authority to dispose of and vote such Securities. The investment partnerships have the right to receive (or the power to direct the receipt of) dividends received in connection with ownership of the Securities, and the proceeds from the sale of the Securities.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

No Street GP LP

Signature:	/s/ Mike Moscuzza
Name/Title:	Mike Moscuzza - Chief Compliance Officer of No Street GP LP
Date:	02/17/2026

FAQ

What does the Schedule 13G filing for APEI by No Street GP disclose?

The Schedule 13G shows No Street GP LP beneficially owning 925,000 American Public Education (APEI) common shares, or 5.1% of the class. The firm reports sole voting and dispositive power over these shares as investment adviser to certain investment partnerships or pooled investment vehicles.

How many APEI shares does No Street GP beneficially own and what percentage is this?

No Street GP LP reports beneficial ownership of 925,000 APEI common shares, representing 5.1% of the outstanding class. The percentage is calculated using 18,085,030 shares outstanding, as stated in American Public Education’s Form 10-Q dated November 10, 2025, referencing shares outstanding on November 7, 2025.

What voting and dispositive power does No Street GP report over APEI shares?

No Street GP LP reports sole power to vote, or direct the vote of, 925,000 APEI shares and sole power to dispose of, or direct the disposition of, the same 925,000 shares. It reports no shared voting power and no shared dispositive power over American Public Education stock.

On what date is No Street GP’s 5.1% APEI ownership reported effective?

The beneficial ownership is reported as of December 31, 2025, the event date requiring the filing. The 5.1% figure is derived using American Public Education’s reported 18,085,030 shares outstanding as of November 7, 2025, as disclosed in the company’s Form 10-Q filed November 10, 2025.

Does No Street GP file the APEI Schedule 13G with an intent to influence control?

No. No Street GP LP certifies the APEI securities were acquired and are held in the ordinary course of business. It states they were not acquired and are not held to change or influence control of American Public Education or in connection with any such control transaction.

In what capacity does No Street GP hold its APEI position?

No Street GP LP files as investment adviser to one or more investment partnerships or pooled investment vehicles that beneficially hold the APEI securities. These investment vehicles have the right to receive dividends and sale proceeds, while No Street GP has authority to vote and dispose of the shares.