AMERICAN PENSION INVESTORS TRUST
NSAR-A, 2000-01-28
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<PAGE>      PAGE  1
000 A000000 11/30/1999
000 C000000 0000764859
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 AMERICAN PENSION INVESTORS TRUST
001 B000000 811-4262
001 C000000 8048461361
002 A000000 2303 YORKTOWN AVENUE
002 B000000 LYNCHBURG
002 C000000 VA
002 D010000 24501
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  5
007 C010100  1
007 C020100 AMERICAN PENSION INVESTORS TRUST GROWTH FUND
007 C030100 N
007 C010200  2
007 C010300  3
007 C020300 AMERICAN PENSION INV. TR. CAPITAL INCOME FUND
007 C030300 N
007 C010400  4
007 C010500  5
007 C010600  6
007 C020600 AMER. PENSION INV. TR. YORKTOWN CLASSIC VALUE
007 C030600 N
007 C010700  7
007 C020700 AMERICAN PENSION INV. TR. TREASURIES TRUST
007 C030700 N
007 C010800  8
007 C020800 AMER. PENSION INV. TR. MULTIPLE INDEX TRUST
007 C030800 N
007 C010900  9
007 C011000 10
020 A000001 REYNDERS, GRAY & COMPANY, INC.
020 B000001 13-2942212
020 C000001     44
020 A000002 MOORS & CABOT, INC.
020 B000002 04-2644548
020 C000002     27
020 A000003 SENTRA SECURITIES CORPORATION
020 B000003 95-3635749
020 C000003     18
<PAGE>      PAGE  2
020 A000004 RAYMOND JAMES & ASSOCIATES, INC.
020 B000004 59-1237041
020 C000004     13
020 A000005 MHA FINANCIAL CORP.
020 B000005 04-2614709
020 C000005      7
020 A000006 TITAN/VALUE EQUITIES GROUP, INC.
020 B000006 94-2847425
020 C000006      5
020 A000007 LIPPER ANALYTICAL SERVICES CORP.
020 B000007 13-2792478
020 C000007      4
020 A000008 HARBOUR INVESTMENTS, INC.
020 B000008 39-1571149
020 C000008      3
020 A000009 SECURITIES SERVICES NETWORK, INC.
020 B000009 62-1152936
020 C000009      3
020 A000010 CAPITAL INVESTMENT GROUP, INC.
020 B000010 56-1394939
020 C000010      2
021  000000      134
022 A000001 GATES CAPITAL CORPORATION
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022 C000001      4904
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  12
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SIGNATURE   CHARLES FOSTER
TITLE       CFO

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>                     6
<CIK>                         0000764859
<NAME>                        AMERICAN PENSION INVESTORS TRUST
<SERIES>
   <NUMBER>                   01
   <NAME>                     APIT GROWTH FUND

<S>                             <C>
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<PER-SHARE-NAV-END>                            14.45
<EXPENSE-RATIO>                                2.42
[AVG-DEBT-OUTSTANDING]                         0
[AVG-DEBT-PER-SHARE]                           0


</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>                     6
<CIK>                         0000764859
<NAME>                        AMERICAN PENSION INVESTORS TRUST
<SERIES>
   <NUMBER>                   03
   <NAME>                     APIT CAPITAL INCOME FUND

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                              MAY-31-2000
<PERIOD-START>                                 JUN-01-1999
<PERIOD-END>                                   MAY-31-2000
<INVESTMENTS-AT-COST>                          11,825,641
<INVESTMENTS-AT-VALUE>                         14,228,618
<RECEIVABLES>                                  0
<ASSETS-OTHER>                                 38,119
<OTHER-ITEMS-ASSETS>                           1,567,358
<TOTAL-ASSETS>                                 15,834,095
<PAYABLE-FOR-SECURITIES>                       1,200,000
<SENIOR-LONG-TERM-DEBT>                        0
<OTHER-ITEMS-LIABILITIES>                      33,673
<TOTAL-LIABILITIES>                            1,233,724
<SENIOR-EQUITY>                                0
<PAID-IN-CAPITAL-COMMON>                       11,581,139
<SHARES-COMMON-STOCK>                          632,269
<SHARES-COMMON-PRIOR>                          0
<ACCUMULATED-NII-CURRENT>                      120,320
<OVERDISTRIBUTION-NII>                         0
<ACCUMULATED-NET-GAINS>                        495,935
<OVERDISTRIBUTION-GAINS>                       0
<ACCUM-APPREC-OR-DEPREC>                       2,402,977
<NET-ASSETS>                                   14,600,371
<DIVIDEND-INCOME>                              99,642
<INTEREST-INCOME>                              8,472
<OTHER-INCOME>                                 0
<EXPENSES-NET>                                 87,930
<NET-INVESTMENT-INCOME>                        20,184
<REALIZED-GAINS-CURRENT>                       496,023
<APPREC-INCREASE-CURRENT>                      606,410
<NET-CHANGE-FROM-OPS>                          1,122,617
<EQUALIZATION>                                 0
<DISTRIBUTIONS-OF-INCOME>                      0
<DISTRIBUTIONS-OF-GAINS>                       995,376
<DISTRIBUTIONS-OTHER>                          0
<NUMBER-OF-SHARES-SOLD>                        64,445
<NUMBER-OF-SHARES-REDEEMED>                    75,971
<SHARES-REINVESTED>                            43,539
<NET-CHANGE-IN-ASSETS>                         777,203
<ACCUMULATED-NII-PRIOR>                        0
<ACCUMULATED-GAINS-PRIOR>                      0
<OVERDISTRIB-NII-PRIOR>                        0
<OVERDIST-NET-GAINS-PRIOR>                     0
<GROSS-ADVISORY-FEES>                          42,654
<INTEREST-EXPENSE>                             0
<GROSS-EXPENSE>                                130,584
<AVERAGE-NET-ASSETS>                           14,174,195
<PER-SHARE-NAV-BEGIN>                          23.03
<PER-SHARE-NII>                                .02
<PER-SHARE-GAIN-APPREC>                        1.70
<PER-SHARE-DIVIDEND>                           0
<PER-SHARE-DISTRIBUTIONS>                      1.66
<RETURNS-OF-CAPITAL>                           0
<PER-SHARE-NAV-END>                            23.09
<EXPENSE-RATIO>                                1.24
[AVG-DEBT-OUTSTANDING]                         0
[AVG-DEBT-PER-SHARE]                           0


</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>                     6
<CIK>                         0000764859
<NAME>                        AMERICAN PENSION INVESTORS TRUST
<SERIES>
   <NUMBER>                   06
   <NAME>                     APIT YORKTOWN CLASSIC VALUE TRUST

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                              MAY-31-2000
<PERIOD-START>                                 JUN-01-1999
<PERIOD-END>                                   NOV-30-1999
<INVESTMENTS-AT-COST>                          17,353,451
<INVESTMENTS-AT-VALUE>                         21,900,726
<RECEIVABLES>                                  0
<ASSETS-OTHER>                                 23,328
<OTHER-ITEMS-ASSETS>                           2,885
<TOTAL-ASSETS>                                 21,926,939
<PAYABLE-FOR-SECURITIES>                       0
<SENIOR-LONG-TERM-DEBT>                        0
<OTHER-ITEMS-LIABILITIES>                      3,513,332
<TOTAL-LIABILITIES>                            3,513,332
<SENIOR-EQUITY>                                0
<PAID-IN-CAPITAL-COMMON>                       14,396,518
<SHARES-COMMON-STOCK>                          1,230,511
<SHARES-COMMON-PRIOR>                          0
<ACCUMULATED-NII-CURRENT>                      (211,581)
<OVERDISTRIBUTION-NII>                         0
<ACCUMULATED-NET-GAINS>                        (318,605)
<OVERDISTRIBUTION-GAINS>                       0
<ACCUM-APPREC-OR-DEPREC>                       4,547,275
<NET-ASSETS>                                   18,413,607
<DIVIDEND-INCOME>                              116,050
<INTEREST-INCOME>                              2,419
<OTHER-INCOME>                                 0
<EXPENSES-NET>                                 330,050
<NET-INVESTMENT-INCOME>                        (211,581)
<REALIZED-GAINS-CURRENT>                       (278,481)
<APPREC-INCREASE-CURRENT>                      291,521
<NET-CHANGE-FROM-OPS>                          (198,541)
<EQUALIZATION>                                 0
<DISTRIBUTIONS-OF-INCOME>                      0
<DISTRIBUTIONS-OF-GAINS>                       1,433,403
<DISTRIBUTIONS-OTHER>                          0
<NUMBER-OF-SHARES-SOLD>                        620,479
<NUMBER-OF-SHARES-REDEEMED>                    457,430
<SHARES-REINVESTED>                            98,905
<NET-CHANGE-IN-ASSETS>                         2,826,733
<ACCUMULATED-NII-PRIOR>                        0
<ACCUMULATED-GAINS-PRIOR>                      0
<OVERDISTRIB-NII-PRIOR>                        0
<OVERDIST-NET-GAINS-PRIOR>                     0
<GROSS-ADVISORY-FEES>                          76,950
<INTEREST-EXPENSE>                             132,625
<GROSS-EXPENSE>                                330,050
<AVERAGE-NET-ASSETS>                           17,055,490
<PER-SHARE-NAV-BEGIN>                          16.09
<PER-SHARE-NII>                                (.17)
<PER-SHARE-GAIN-APPREC>                        .32
<PER-SHARE-DIVIDEND>                           0
<PER-SHARE-DISTRIBUTIONS>                      1.28
<RETURNS-OF-CAPITAL>                           0
<PER-SHARE-NAV-END>                            14.96
<EXPENSE-RATIO>                                3.87
[AVG-DEBT-OUTSTANDING]                         3,943,161
[AVG-DEBT-PER-SHARE]                           3.58


</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>                     6
<CIK>                         0000764859
<NAME>                        AMERICAN PENSION INVESTMENT TRUST
<SERIES>
   <NUMBER>                   07
   <NAME>                     APIT TREASURIES TRUST

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                              MAY-31-2000
<PERIOD-START>                                 JUN-01-1999
<PERIOD-END>                                   NOV-30-1999
<INVESTMENTS-AT-COST>                          4,945,426
<INVESTMENTS-AT-VALUE>                         4,915,755
<RECEIVABLES>                                  0
<ASSETS-OTHER>                                 11,672
<OTHER-ITEMS-ASSETS>                           295,827
<TOTAL-ASSETS>                                 5,223,254
<PAYABLE-FOR-SECURITIES>                       0
<SENIOR-LONG-TERM-DEBT>                        0
<OTHER-ITEMS-LIABILITIES>                      11,229
<TOTAL-LIABILITIES>                            11,229
<SENIOR-EQUITY>                                0
<PAID-IN-CAPITAL-COMMON>                       5,463,405
<SHARES-COMMON-STOCK>                          510,622
<SHARES-COMMON-PRIOR>                          0
<ACCUMULATED-NII-CURRENT>                      122,275
<OVERDISTRIBUTION-NII>                         0
<ACCUMULATED-NET-GAINS>                        (343,984)
<OVERDISTRIBUTION-GAINS>                       0
<ACCUM-APPREC-OR-DEPREC>                       (29,671)
<NET-ASSETS>                                   5,212,025
<DIVIDEND-INCOME>                              0
<INTEREST-INCOME>                              175,781
<OTHER-INCOME>                                 0
<EXPENSES-NET>                                 21,760
<NET-INVESTMENT-INCOME>                        154,021
<REALIZED-GAINS-CURRENT>                       (403,535)
<APPREC-INCREASE-CURRENT>                      162,165
<NET-CHANGE-FROM-OPS>                          (87,349)
<EQUALIZATION>                                 0
<DISTRIBUTIONS-OF-INCOME>                      93,858
<DISTRIBUTIONS-OF-GAINS>                       0
<DISTRIBUTIONS-OTHER>                          0
<NUMBER-OF-SHARES-SOLD>                        135,811
<NUMBER-OF-SHARES-REDEEMED>                    346,403
<SHARES-REINVESTED>                            8,704
<NET-CHANGE-IN-ASSETS>                         (2,292,091)
<ACCUMULATED-NII-PRIOR>                        0
<ACCUMULATED-GAINS-PRIOR>                      0
<OVERDISTRIB-NII-PRIOR>                        0
<OVERDIST-NET-GAINS-PRIOR>                     0
<GROSS-ADVISORY-FEES>                          10,023
<INTEREST-EXPENSE>                             0
<GROSS-EXPENSE>                                38,421
<AVERAGE-NET-ASSETS>                           5,250,008
<PER-SHARE-NAV-BEGIN>                          10.53
<PER-SHARE-NII>                                .35
<PER-SHARE-GAIN-APPREC>                        (.47)
<PER-SHARE-DIVIDEND>                           .20
<PER-SHARE-DISTRIBUTIONS>                      0
<RETURNS-OF-CAPITAL>                           0
<PER-SHARE-NAV-END>                            10.21
<EXPENSE-RATIO>                                0
[AVG-DEBT-OUTSTANDING]                         0
[AVG-DEBT-PER-SHARE]                           0


</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>                     6
<CIK>                         0000764859
<NAME>                        AMERICAN PENSION INVESTMENT TRUST
<SERIES>
   <NUMBER>                   08
   <NAME>                     APIT MULTIPLE INDEX TRUST

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                              MAY-31-2000
<PERIOD-START>                                 JUN-01-1999
<PERIOD-END>                                   NOV-30-1999
<INVESTMENTS-AT-COST>                          6,347,817
<INVESTMENTS-AT-VALUE>                         8,037,348
<RECEIVABLES>                                  0
<ASSETS-OTHER>                                 15,142
<OTHER-ITEMS-ASSETS>                           726,565
<TOTAL-ASSETS>                                 8,779,055
<PAYABLE-FOR-SECURITIES>                       0
<SENIOR-LONG-TERM-DEBT>                        0
<OTHER-ITEMS-LIABILITIES>                      10,603
<TOTAL-LIABILITIES>                            10,603
<SENIOR-EQUITY>                                0
<PAID-IN-CAPITAL-COMMON>                       6,948,473
<SHARES-COMMON-STOCK>                          600,598
<SHARES-COMMON-PRIOR>                          0
<ACCUMULATED-NII-CURRENT>                      (184)
<OVERDISTRIBUTION-NII>                         0
<ACCUMULATED-NET-GAINS>                        130,632
<OVERDISTRIBUTION-GAINS>                       0
<ACCUM-APPREC-OR-DEPREC>                       1,689,531
<NET-ASSETS>                                   8,768,452
<DIVIDEND-INCOME>                              17,885
<INTEREST-INCOME>                              11,155
<OTHER-INCOME>                                 0
<EXPENSES-NET>                                 43,798
<NET-INVESTMENT-INCOME>                        (14,758)
<REALIZED-GAINS-CURRENT>                       99,928
<APPREC-INCREASE-CURRENT>                      912,159
<NET-CHANGE-FROM-OPS>                          997,329
<EQUALIZATION>                                 0
<DISTRIBUTIONS-OF-INCOME>                      0
<DISTRIBUTIONS-OF-GAINS>                       0
<DISTRIBUTIONS-OTHER>                          0
<NUMBER-OF-SHARES-SOLD>                        182,316
<NUMBER-OF-SHARES-REDEEMED>                    23,770
<SHARES-REINVESTED>                            0
<NET-CHANGE-IN-ASSETS>                         3,156,136
<ACCUMULATED-NII-PRIOR>                        0
<ACCUMULATED-GAINS-PRIOR>                      0
<OVERDISTRIB-NII-PRIOR>                        0
<OVERDIST-NET-GAINS-PRIOR>                     0
<GROSS-ADVISORY-FEES>                          24,286
<INTEREST-EXPENSE>                             0
<GROSS-EXPENSE>                                50,593
<AVERAGE-NET-ASSETS>                           7,034,172
<PER-SHARE-NAV-BEGIN>                          12.70
<PER-SHARE-NII>                                (.03)
<PER-SHARE-GAIN-APPREC>                        1.93
<PER-SHARE-DIVIDEND>                           0
<PER-SHARE-DISTRIBUTIONS>                      0
<RETURNS-OF-CAPITAL>                           0
<PER-SHARE-NAV-END>                            14.60
<EXPENSE-RATIO>                                1.25
[AVG-DEBT-OUTSTANDING]                         0
[AVG-DEBT-PER-SHARE]                           0


</TABLE>


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