content: <?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
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        <filer>
          <filerCredentials>
            <cik>0001859787</cik>
            <ccc>XXXXXXXX</ccc>
          </filerCredentials>
        </filer>
        <liveTestFlag>LIVE</liveTestFlag>
  
  
  
      </filerInfo>
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        <issuerName>On Holding AG</issuerName>
        <secFileNumber>001-40795</secFileNumber>
        <issuerAddress>
          <com:street1>FORRLIBUCKSTRASSE 190</com:street1>
          <com:city>8005 ZURICH</com:city>
          <com:stateOrCountry>V8</com:stateOrCountry>
          <com:zipCode>00000</com:zipCode>
        </issuerAddress>
        <issuerContactPhone>41 44 225 15 55</issuerContactPhone>
        <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Maurer Marc</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
        <relationshipsToIssuer>
          <relationshipToIssuer>Officer</relationshipToIssuer>
        </relationshipsToIssuer>
      </issuerInfo>
      <securitiesInformation>
        <securitiesClassTitle>Class A</securitiesClassTitle>
        <brokerOrMarketmakerDetails>
          <name>Fidelity Brokerage Services LLC</name>
          <address>
            <com:street1>900 Salem Street</com:street1>
            <com:city>Smithfield</com:city>
            <com:stateOrCountry>RI</com:stateOrCountry>
            <com:zipCode>02917</com:zipCode>
          </address>
        </brokerOrMarketmakerDetails>
        <noOfUnitsSold>120000</noOfUnitsSold>
        <aggregateMarketValue>5488815.81</aggregateMarketValue>
        <noOfUnitsOutstanding>284215277</noOfUnitsOutstanding>
        <approxSaleDate>09/04/2024</approxSaleDate>
        <securitiesExchangeName>NYSE</securitiesExchangeName>
      </securitiesInformation>
      <securitiesToBeSold>
        <securitiesClassTitle>Class A</securitiesClassTitle>
        <acquiredDate>09/04/2024</acquiredDate>
        <natureOfAcquisitionTransaction>Option Granted 11/29/2021</natureOfAcquisitionTransaction>
        <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
        <isGiftTransaction>N</isGiftTransaction>
        <amountOfSecuritiesAcquired>120000</amountOfSecuritiesAcquired>
        <paymentDate>09/04/2024</paymentDate>
        <natureOfPayment>Cash</natureOfPayment>
      </securitiesToBeSold>
      <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
      <securitiesSoldInPast3Months>
        <sellerDetails>
          <name>Marc Maurer</name>
          <address>
            <com:street1>Forrlibuckstrasse 190</com:street1>
            <com:city>Zurich</com:city>
            <com:stateOrCountry>V8</com:stateOrCountry>
            <com:zipCode>8005</com:zipCode>
          </address>
        </sellerDetails>
        <securitiesClassTitle>Class A</securitiesClassTitle>
        <saleDate>06/10/2024</saleDate>
        <amountOfSecuritiesSold>5282</amountOfSecuritiesSold>
        <grossProceeds>226131.00</grossProceeds>
      </securitiesSoldInPast3Months>
      <securitiesSoldInPast3Months>
        <sellerDetails>
          <name>Marc Maurer</name>
          <address>
            <com:street1>Forrlibuckstrasse 190</com:street1>
            <com:city>Zurich</com:city>
            <com:stateOrCountry>V8</com:stateOrCountry>
            <com:zipCode>8005</com:zipCode>
          </address>
        </sellerDetails>
        <securitiesClassTitle>Class A</securitiesClassTitle>
        <saleDate>06/17/2024</saleDate>
        <amountOfSecuritiesSold>5282</amountOfSecuritiesSold>
        <grossProceeds>219613.00</grossProceeds>
      </securitiesSoldInPast3Months>
      <securitiesSoldInPast3Months>
        <sellerDetails>
          <name>Marc Maurer</name>
          <address>
            <com:street1>Forrlibuckstrasse 190</com:street1>
            <com:city>Zurich</com:city>
            <com:stateOrCountry>V8</com:stateOrCountry>
            <com:zipCode>8005</com:zipCode>
          </address>
        </sellerDetails>
        <securitiesClassTitle>Class A</securitiesClassTitle>
        <saleDate>06/24/2024</saleDate>
        <amountOfSecuritiesSold>5282</amountOfSecuritiesSold>
        <grossProceeds>206603.00</grossProceeds>
      </securitiesSoldInPast3Months>
      <securitiesSoldInPast3Months>
        <sellerDetails>
          <name>Marc Maurer</name>
          <address>
            <com:street1>Forrlibuckstrasse 190</com:street1>
            <com:city>Zurich</com:city>
            <com:stateOrCountry>V8</com:stateOrCountry>
            <com:zipCode>8005</com:zipCode>
          </address>
        </sellerDetails>
        <securitiesClassTitle>Class A</securitiesClassTitle>
        <saleDate>07/01/2024</saleDate>
        <amountOfSecuritiesSold>5282</amountOfSecuritiesSold>
        <grossProceeds>201419.00</grossProceeds>
      </securitiesSoldInPast3Months>
      <securitiesSoldInPast3Months>
        <sellerDetails>
          <name>Marc Maurer</name>
          <address>
            <com:street1>Forrlibuckstrasse 190</com:street1>
            <com:city>Zurich</com:city>
            <com:stateOrCountry>V8</com:stateOrCountry>
            <com:zipCode>8005</com:zipCode>
          </address>
        </sellerDetails>
        <securitiesClassTitle>Class A</securitiesClassTitle>
        <saleDate>07/08/2024</saleDate>
        <amountOfSecuritiesSold>5282</amountOfSecuritiesSold>
        <grossProceeds>198959.00</grossProceeds>
      </securitiesSoldInPast3Months>
      <securitiesSoldInPast3Months>
        <sellerDetails>
          <name>Marc Maurer</name>
          <address>
            <com:street1>Forrlibuckstrasse 190</com:street1>
            <com:city>Zurich</com:city>
            <com:stateOrCountry>V8</com:stateOrCountry>
            <com:zipCode>8005</com:zipCode>
          </address>
        </sellerDetails>
        <securitiesClassTitle>Class A</securitiesClassTitle>
        <saleDate>07/15/2024</saleDate>
        <amountOfSecuritiesSold>5282</amountOfSecuritiesSold>
        <grossProceeds>196772.00</grossProceeds>
      </securitiesSoldInPast3Months>
      <securitiesSoldInPast3Months>
        <sellerDetails>
          <name>Marc Maurer</name>
          <address>
            <com:street1>Forrlibuckstrasse 190</com:street1>
            <com:city>Zurich</com:city>
            <com:stateOrCountry>V8</com:stateOrCountry>
            <com:zipCode>8005</com:zipCode>
          </address>
        </sellerDetails>
        <securitiesClassTitle>Class A</securitiesClassTitle>
        <saleDate>07/22/2024</saleDate>
        <amountOfSecuritiesSold>5282</amountOfSecuritiesSold>
        <grossProceeds>211438.00</grossProceeds>
      </securitiesSoldInPast3Months>
      <securitiesSoldInPast3Months>
        <sellerDetails>
          <name>Marc Maurer</name>
          <address>
            <com:street1>Forrlibuckstrasse 190</com:street1>
            <com:city>Zurich</com:city>
            <com:stateOrCountry>V8</com:stateOrCountry>
            <com:zipCode>8005</com:zipCode>
          </address>
        </sellerDetails>
        <securitiesClassTitle>Class A</securitiesClassTitle>
        <saleDate>07/29/2024</saleDate>
        <amountOfSecuritiesSold>5282</amountOfSecuritiesSold>
        <grossProceeds>211181.00</grossProceeds>
      </securitiesSoldInPast3Months>
      <securitiesSoldInPast3Months>
        <sellerDetails>
          <name>Marc Maurer</name>
          <address>
            <com:street1>Forrlibuckstrasse 190</com:street1>
            <com:city>Zurich</com:city>
            <com:stateOrCountry>V8</com:stateOrCountry>
            <com:zipCode>8005</com:zipCode>
          </address>
        </sellerDetails>
        <securitiesClassTitle>Class A</securitiesClassTitle>
        <saleDate>08/05/2024</saleDate>
        <amountOfSecuritiesSold>5282</amountOfSecuritiesSold>
        <grossProceeds>196896.00</grossProceeds>
      </securitiesSoldInPast3Months>
      <securitiesSoldInPast3Months>
        <sellerDetails>
          <name>Marc Maurer</name>
          <address>
            <com:street1>Forrlibuckstrasse 190</com:street1>
            <com:city>Zurich</com:city>
            <com:stateOrCountry>V8</com:stateOrCountry>
            <com:zipCode>8005</com:zipCode>
          </address>
        </sellerDetails>
        <securitiesClassTitle>Class A</securitiesClassTitle>
        <saleDate>08/12/2024</saleDate>
        <amountOfSecuritiesSold>5282</amountOfSecuritiesSold>
        <grossProceeds>212590.00</grossProceeds>
      </securitiesSoldInPast3Months>
      <securitiesSoldInPast3Months>
        <sellerDetails>
          <name>Marc Maurer</name>
          <address>
            <com:street1>Forrlibuckstrasse 190</com:street1>
            <com:city>Zurich</com:city>
            <com:stateOrCountry>V8</com:stateOrCountry>
            <com:zipCode>8005</com:zipCode>
          </address>
        </sellerDetails>
        <securitiesClassTitle>Class A</securitiesClassTitle>
        <saleDate>08/19/2024</saleDate>
        <amountOfSecuritiesSold>5282</amountOfSecuritiesSold>
        <grossProceeds>223877.00</grossProceeds>
      </securitiesSoldInPast3Months>
      <securitiesSoldInPast3Months>
        <sellerDetails>
          <name>Marc Maurer</name>
          <address>
            <com:street1>Forrlibuckstrasse 190</com:street1>
            <com:city>Zurich</com:city>
            <com:stateOrCountry>V8</com:stateOrCountry>
            <com:zipCode>8005</com:zipCode>
          </address>
        </sellerDetails>
        <securitiesClassTitle>Class A</securitiesClassTitle>
        <saleDate>08/26/2024</saleDate>
        <amountOfSecuritiesSold>71692</amountOfSecuritiesSold>
        <grossProceeds>3195312.44</grossProceeds>
      </securitiesSoldInPast3Months>
      <noticeSignature>
        <noticeDate>09/04/2024</noticeDate>
        <signature>/s/ Emily Navaro, as a duly authorized representative of Fidelity Brokerage Services LLC, as attorney-in-fact for  Marc Maurer.</signature>
      </noticeSignature>
    </formData>
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metadata_documents: [{"type": "144", "sequence": "1", "filename": "primary_doc.xml", "secsgml_size_bytes": 9801}]
text: 144
  0001859787
  XXXXXXXX
  LIVE
  0001858985
  On Holding AG
  001-40795
  FORRLIBUCKSTRASSE 190
  8005 ZURICH
  V8
  00000
  41 44 225 15 55
  Maurer Marc
  Officer
  Class A
  Fidelity Brokerage Services LLC
  900 Salem Street
  Smithfield
  RI
  02917
  120000
  5488815.81
  284215277
  09/04/2024
  NYSE
  Class A
  09/04/2024
  Option Granted 11/29/2021
  Issuer
  N
  120000
  09/04/2024
  Cash
  N
  Marc Maurer
  Forrlibuckstrasse 190
  Zurich
  V8
  8005
  Class A
  06/10/2024
  5282
  226131.00
  Marc Maurer
  Forrlibuckstrasse 190
  Zurich
  V8
  8005
  Class A
  06/17/2024
  5282
  219613.00
  Marc Maurer
  Forrlibuckstrasse 190
  Zurich
  V8
  8005
  Class A
  06/24/2024
  5282
  206603.00
  Marc Maurer
  Forrlibuckstrasse 190
  Zurich
  V8
  8005
  Class A
  07/01/2024
  5282
  201419.00
  Marc Maurer
  Forrlibuckstrasse 190
  Zurich
  V8
  8005
  Class A
  07/08/2024
  5282
  198959.00
  Marc Maurer
  Forrlibuckstrasse 190
  Zurich
  V8
  8005
  Class A
  07/15/2024
  5282
  196772.00
  Marc Maurer
  Forrlibuckstrasse 190
  Zurich
  V8
  8005
  Class A
  07/22/2024
  5282
  211438.00
  Marc Maurer
  Forrlibuckstrasse 190
  Zurich
  V8
  8005
  Class A
  07/29/2024
  5282
  211181.00
  Marc Maurer
  Forrlibuckstrasse 190
  Zurich
  V8
  8005
  Class A
  08/05/2024
  5282
  196896.00
  Marc Maurer
  Forrlibuckstrasse 190
  Zurich
  V8
  8005
  Class A
  08/12/2024
  5282
  212590.00
  Marc Maurer
  Forrlibuckstrasse 190
  Zurich
  V8
  8005
  Class A
  08/19/2024
  5282
  223877.00
  Marc Maurer
  Forrlibuckstrasse 190
  Zurich
  V8
  8005
  Class A
  08/26/2024
  71692
  3195312.44
  09/04/2024
  /s/ Emily Navaro, as a duly authorized representative of Fidelity Brokerage Services LLC, as attorney-in-fact for  Marc Maurer.