Yorktown Short Term Bond Fund
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- Yorktown Short Term Bond Fund Class Institutional (APIBX) is an open-end mutual fund that seeks income consistent with the preservation of capital by investing at least 80% of its assets in a diversified portfolio of fixed income securities, including investment-grade corporate bonds, asset-backed securities, agency mortgage-backed securities, U.S. government agency obligations, collateralized loan obligations, and U.S. dollar-denominated debt; the fund emphasizes conservative, income-oriented strategies for principal stability with limited interest-rate sensitivity and focuses on U.S.-dollar denominated holdings across sectors such as financials, industrials, consumer discretionary, technology, utilities, materials, and consumer staples, with top holdings including Caterpillar Financial Services Corp., Federal Farm Credit Banks Funding Corp., Goldman Sachs Group Inc., Oracle Corp., and various UMBS Fannie Mae and Freddie Mac pools. The fund offers three share classes—Class A (APIMX, inception July 2, 1997), Class I (APIBX, inception May 31, 2013, minimum initial investment $1,000,000), and Class L (AFMMX, inception July 1, 2004)—with net expense ratios ranging from 0.80% to 1.64%, monthly distributions, and benchmarks against the Bloomberg U.S. Aggregate Bond Index; as of September 30, 2025, total net assets approximate $184 million, with Class I assets at around $98.8 million. Yorktown Funds, the fund family sponsor founded in 1985 and headquartered at 106 Annjo Court, Forest, Virginia, manages the portfolio under lead portfolio managers David Basten (since 1997) and John Tener (since 2019), targeting conservative investors through active fixed income management. In recent years, the fund underwent a significant investment strategy and legal structure change effective January 1, 2016 (finalized December 20, 2016), transitioning from its prior identity as American Pension Investors Trust - API Short Term Bond Fund, which supported a rebranding under Yorktown Funds and ongoing portfolio diversification; no major acquisitions, partnerships, funding rounds, or new product launches have been reported in the last 1-2 years, with operations remaining focused on the U.S. market.