SCHEDULE: Khrom Investments Boosts Stake in Acadia Healthcare to 8.81%

Khrom Investments Fund, LP, along with Khrom Capital Management LLC and Eric Khrom, has increased its beneficial ownership in Acadia Healthcare Company, Inc. to 8.81%.

Summary

• Khrom Investments Fund, LP, Khrom Capital Management LLC, and Eric Khrom have filed an Amendment No. 2 to their Schedule 13D, disclosing an increased beneficial ownership in Acadia Healthcare Company, Inc. (ACHC).
• As of January 21, 2026, Khrom Investments Fund, LP beneficially owns 8,124,609 shares, representing 8.81% of the outstanding Common Stock.
• Khrom Capital Management LLC also beneficially owns 8,124,609 shares (8.81%) due to shared voting and dispositive power over Khrom Investments' shares.
• Eric Khrom beneficially owns an aggregate of 8,131,537 shares (8.81%), comprising 6,928 directly owned shares and shared voting/dispositive power over Khrom Investments' shares.
• The percentage of ownership is based on 92,258,166 outstanding shares of Acadia Healthcare Company, Inc. as of November 4, 2025.
• The reporting persons made numerous open market purchases of Acadia Healthcare shares between November 25, 2025, and January 21, 2026, with prices ranging from $11.6104 to $15.379 per share.

Sentiment

Score: 7

Explanation: The filing indicates a significant increase in beneficial ownership by Khrom Investments Fund, LP and its affiliates in Acadia Healthcare, suggesting confidence in the company's prospects. This is generally viewed as a positive signal from a sophisticated investor.

Positives

• A significant increase in beneficial ownership by an institutional investor like Khrom Investments Fund, LP, suggests strong confidence in Acadia Healthcare Company, Inc.'s future prospects.
• The consistent open market purchases across various price points indicate a strategic accumulation of shares by the reporting persons.

Future Outlook

The filing does not contain any forward-looking statements or guidance from the reporting persons regarding Acadia Healthcare Company, Inc.'s future performance or strategic direction.

Industry Context

Acadia Healthcare Company, Inc. operates in the behavioral healthcare services industry. The increased stake by Khrom Investments, a notable institutional investor, could signal a positive outlook on the behavioral health sector or Acadia's specific position within it, potentially driven by factors such as growing demand for mental health services or favorable regulatory environments.

Stakeholder Impact

• Shareholders: Increased institutional ownership may provide greater stability to the share price and potentially lead to enhanced corporate governance or strategic engagement from a significant shareholder.
• Company Management: The presence of a large institutional investor could lead to increased scrutiny or influence on strategic decisions and operational performance.

Key Dates

Recommendation

The significant increase in beneficial ownership by Khrom Investments Fund, LP and its affiliates to 8.81% of Acadia Healthcare Company, Inc. shares indicates strong institutional confidence in the company. This accumulation of shares, primarily through open market purchases, suggests a positive long-term view from a sophisticated investor. While this alone doesn't warrant an immediate 'buy' without further fundamental analysis, it provides a strong signal to 'hold' for existing investors and consider further due diligence for potential new investors.

Keywords

Acadia Healthcare, ACHC, Khrom Investments, Khrom Capital, Eric Khrom, Schedule 13D, beneficial ownership, institutional investment, healthcare, mental health services, equity stake