Khrom holds 8.81% of Acadia Healthcare (ACHC) common stock

Rhea-AI Filing Summary

Acadia Healthcare Company, Inc. received an updated ownership filing showing that investment entities affiliated with Khrom Capital report a significant stake in the company’s common stock. Khrom Investments Fund is the direct beneficial owner of 8,124,609 shares, while Eric Khrom directly owns an additional 6,928 shares, for a total of 8,131,537 shares reported as beneficially owned by him.

The filing states that this position represents 8.81% of Acadia’s common stock, based on 92,258,166 shares outstanding as of November 4, 2025. Khrom Capital Management LLC is reported to share voting and dispositive power over the 8,124,609 shares held by Khrom Investments, and Eric Khrom may be deemed to share authority over those shares through his roles in the related entities, while disclaiming beneficial ownership except to the extent of any pecuniary interest.

Insights

Equity ownership & governance analyst

Khrom-affiliated entities report an 8.81% stake in Acadia Healthcare, signaling a sizable institutional holder but without stated strategic intentions.

The filing shows that Khrom Investments Fund directly owns 8,124,609 shares of Acadia Healthcare common stock, and that this stake plus 6,928 shares directly held by Eric Khrom totals 8,131,537 shares reported as beneficially owned by him. Using the issuer’s disclosed 92,258,166 shares outstanding as of November 4, 2025, the position represents 8.81% of the company’s common stock, making Khrom-related entities a notable shareholder.

The structure described indicates that Khrom Capital Management LLC has shared voting and dispositive power over the shares directly owned by Khrom Investments, and that Eric Khrom, through his roles at Khrom Capital and Khrom Capital GP, LLC, may be deemed to share authority over those shares, while he disclaims beneficial ownership beyond any pecuniary interest. The amendment references a transaction list in Exhibit 1 for activity since November 24, 2025, but the excerpt does not detail those trades, so the emphasis here is on current ownership levels rather than trading patterns.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)

Acadia Healthcare Company, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

00404A109

(CUSIP Number)

Eduard Skutelsky
COO of Khrom Capital Management LLC, 1691 Michigan Ave., Suite 240
Miami, FL, 33139
(646) 436-6643

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

01/21/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 00404A109

1

Name of reporting person

Khrom Investments Fund, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 8,124,609.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 8,124,609.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

8,124,609.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8.81 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 00404A109

1

Name of reporting person

Khrom Capital Management LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 8,124,609.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 8,124,609.00

11

Aggregate amount beneficially owned by each reporting person

8,124,609.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8.81 %

14

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13D

CUSIP No. 00404A109

1

Name of reporting person

Eric Khrom

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 6,928.00
8	Shared Voting Power 8,124,609.00
9	Sole Dispositive Power 6,928.00
10	Shared Dispositive Power 8,124,609.00

11

Aggregate amount beneficially owned by each reporting person

8,131,537.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8.81 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.01 per share
(b)	Name of Issuer: Acadia Healthcare Company, Inc.
(c)	Address of Issuer's Principal Executive Offices: 6100 TOWER CIRCLE, SUITE 1000, FRANKLIN, TENNESSEE , 37067.
Item 1 Comment: This statement constitutes Amendment No. 2 to the Schedule 13D relating to the shares of common stock, par value $0.01 per share (the "Shares"), issued by Acadia Healthcare Company, Inc. (the "Issuer") and amends the Schedule 13D relating to the Shares originally filed by the Reporting Persons on October 1, 2025 (the "Original 13D") as amended by Amendment No. 1 to the Original Schedule 13D filed by the Reporting Persons on November 24, 2025 (as amended, this "Schedule 13D"). Capitalized terms used herein and not otherwise defined have the respective meanings ascribed thereto in the Original 13D.
Item 5.	Interest in Securities of the Issuer
(a)	The responses of the Reporting Persons to Rows (7) through (11) of the cover pages of this Schedule 13D are incorporated herein by reference. The percentages set forth on the cover pages are based on 92,258,166 outstanding Shares as of November 4, 2025, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 5, 2025. Khrom Investments is the direct beneficial owner of 8,124,609 Shares and Mr. Khrom is the direct beneficial owner of 6,928 Shares. The Shares reported as beneficially owned by Khrom Capital reflect the Shares that are directly beneficially owned by its affiliate, Khrom Investments, as Khrom Capital has the power to vote or direct the vote of (and the power to dispose or direct the disposition of) such Shares. Mr. Khrom is the sole member of Khrom Capital GP, LLC, which is the general partner of Khrom Investments. Mr. Khrom in his capacity as the managing member of Khrom Capital and as the sole member of Khrom Capital GP, LLC may be deemed to share the power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) the Shares directly beneficially owned by Khrom Investments and, accordingly, Mr. Khrom may be deemed to be the beneficial owner of such Shares. Mr. Khrom disclaims beneficial ownership of the Shares directly held by Khrom Investments except to the extent of any pecuniary interest therein.
(b)	The information set forth in Item 5(a) is incorporated into this Item 5(b).
(c)	Exhibit 1 attached hereto sets forth all transactions with respect to the Shares by any Reporting Person since November 24, 2025 (the date on which the last amendment to this Schedule 13D was filed with the SEC).
(d)	No other person is known to the Reporting Persons to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Shares covered by this Schedule 13D, except that dividends from, and proceeds from the sale of, the Shares held by the accounts managed by Khrom Capital, including the Shares that are directly beneficially owned by Khrom Investments, may be delivered to such accounts.
(e)	Not applicable.
Item 7.	Material to be Filed as Exhibits.
	1. Transactions in Shares

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.

Khrom Investments Fund, LP

Signature:	/s/ Eduard Skutelsky
Name/Title:	Eduard Skutelsky / Chief Operating Officer
Date:	01/23/2026

Khrom Capital Management LLC

Signature:	/s/ Eduard Skutelsky
Name/Title:	Eduard Skutelsky / Chief Operating Officer
Date:	01/23/2026

Eric Khrom

Signature:	/s/ Eric Khrom
Name/Title:	Eric Khrom
Date:	01/23/2026

FAQ

What ownership stake in Acadia Healthcare (ACHC) do Khrom-affiliated entities report?

The filing reports that Khrom-affiliated entities beneficially own 8,131,537 shares of Acadia Healthcare common stock, representing 8.81% of the outstanding shares based on 92,258,166 shares outstanding as of November 4, 2025.

How many Acadia Healthcare (ACHC) shares does Khrom Investments Fund directly own?

The filing states that Khrom Investments Fund is the direct beneficial owner of 8,124,609 shares of Acadia Healthcare common stock, with sole voting and sole dispositive power over those shares.

What is Eric Khrom’s reported direct and indirect interest in Acadia Healthcare (ACHC)?

Eric Khrom directly owns 6,928 shares of Acadia Healthcare common stock and may be deemed to beneficially own the 8,124,609 shares held by Khrom Investments through his roles at Khrom Capital and Khrom Capital GP, LLC, bringing his reported beneficial ownership to 8,131,537 shares, or 8.81% of the class.

What role does Khrom Capital Management LLC play in the Acadia Healthcare (ACHC) stake?

The filing explains that Khrom Capital Management LLC has shared voting power and shared dispositive power over 8,124,609 shares of Acadia Healthcare common stock, which are directly beneficially owned by its affiliate, Khrom Investments Fund.

On what share count is the 8.81% ownership of Acadia Healthcare (ACHC) based?

The 8.81% ownership figure is based on 92,258,166 shares of Acadia Healthcare common stock outstanding as of November 4, 2025, as reported in the company’s Form 10-Q filed on November 5, 2025.

What does Amendment No. 2 to the Schedule 13D for Acadia Healthcare (ACHC) cover?

Amendment No. 2 updates the Schedule 13D relating to Acadia Healthcare’s common stock originally filed on October 1, 2025 and previously amended on November 24, 2025, restating the 8.81% beneficial ownership and incorporating recent transactions in the shares listed in Exhibit 1.