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    <filerInfo>
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        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Milmoe William H. -->
          <cik>0001443194</cik>
          <ccc>XXXXXXXX</ccc>
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      <liveTestFlag>LIVE</liveTestFlag>


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    <issuerInfo>
      <issuerCik>0001341766</issuerCik>
      <issuerName>Celsius Holdings, Inc.</issuerName>
      <secFileNumber>001-34611</secFileNumber>
      <issuerAddress>
        <com:street1>2422 N. Federal Highway</com:street1>
        <com:street2>Suite 208</com:street2>
        <com:city>Boca Raton</com:city>
        <com:stateOrCountry>FL</com:stateOrCountry>
        <com:zipCode>33431</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>561-276-2239</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>CD Financial, LLC</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>Affiliate1</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>Common Stock2</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>Jefferies LLC</name>
        <address>
          <com:street1>520 Madison Avenue</com:street1>
          <com:city>New York,</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10022</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>500000</noOfUnitsSold>
      <aggregateMarketValue>86045000.00</aggregateMarketValue>
      <noOfUnitsOutstanding>76891227</noOfUnitsOutstanding>
      <approxSaleDate>10/25/2023</approxSaleDate>
      <securitiesExchangeName>NASDAQ</securitiesExchangeName>
    </securitiesInformation>
    <securitiesInformation>
      <securitiesClassTitle>Common Stock2</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>Citigroup Global Markets Inc.</name>
        <address>
          <com:street1>388 Greenwich St.</com:street1>
          <com:city>New York,</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10013</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>500000</noOfUnitsSold>
      <aggregateMarketValue>86045000.00</aggregateMarketValue>
      <noOfUnitsOutstanding>76891227</noOfUnitsOutstanding>
      <approxSaleDate>10/25/2023</approxSaleDate>
      <securitiesExchangeName>NASDAQ</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock acquired upon conversion of Preferred A Stock issued by Celsius Holdings, Inc.</securitiesClassTitle>
      <acquiredDate>03/10/2010</acquiredDate>
      <natureOfAcquisitionTransaction>Conversion of Preferred A Stock of Celsius Holdings, Inc.</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Celsius Holdings, Inc. upon conversion of Preferred A Stock</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>2103445</amountOfSecuritiesAcquired>
      <paymentDate>03/10/2010</paymentDate>
      <natureOfPayment>Conversion of Preferred A Stock</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <remarks>FN 1: The Carl DeSantis Revocable Trust ("Trust") owns a 100% beneficial interest in CD Financial, LLC ("CDF"). William Milmoe is a trustee and authorized signatory for the Trust. FN 2: In accordance with the procedures described in the interpretive letters (the "No-Action Letters") from the staff of the Securities and Exchange Commission to Goldman Sachs &amp; Co., dated December 20, 1999 and to Bank of America, N.A., Merrill Lynch, Pierce Fenner &amp; Smith Incorporated, dated December 1, 2011, on the date hereof, CDF entered into a call option transaction with each of Jefferies Financial Services, Inc. and Citibank, N.A. Pursuant to the terms of the option transaction, CDF will sell call options referencing up to 1,000,000 shares of the Issuer in total and pledge a corresponding number of the underlying shares to each of Jefferies Financial Services, Inc. and Citibank, N.A. FN 3 Aggregate Market Value: Price based on opening stock price of $172.09 on October 25, 2023.</remarks>
    <noticeSignature>
      <noticeDate>10/25/2023</noticeDate>
      <signature>/s/ William Milmoe</signature>
    </noticeSignature>
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144
0001443194
XXXXXXXX
LIVE
0001341766
Celsius Holdings, Inc.
001-34611
2422 N. Federal Highway
Suite 208
Boca Raton
FL
33431
561-276-2239
CD Financial, LLC
Affiliate1
Common Stock2
Jefferies LLC
520 Madison Avenue
New York,
NY
10022
500000
86045000.00
76891227
10/25/2023
NASDAQ
Common Stock2
Citigroup Global Markets Inc.
388 Greenwich St.
New York,
NY
10013
500000
86045000.00
76891227
10/25/2023
NASDAQ
Common Stock acquired upon conversion of Preferred A Stock issued by Celsius Holdings, Inc.
03/10/2010
Conversion of Preferred A Stock of Celsius Holdings, Inc.
Celsius Holdings, Inc. upon conversion of Preferred A Stock
N
2103445
03/10/2010
Conversion of Preferred A Stock
Y
FN 1: The Carl DeSantis Revocable Trust ("Trust") owns a 100% beneficial interest in CD Financial, LLC ("CDF"). William Milmoe is a trustee and authorized signatory for the Trust. FN 2: In accordance with the procedures described in the interpretive letters (the "No-Action Letters") from the staff of the Securities and Exchange Commission to Goldman Sachs & Co., dated December 20, 1999 and to Bank of America, N.A., Merrill Lynch, Pierce Fenner & Smith Incorporated, dated December 1, 2011, on the date hereof, CDF entered into a call option transaction with each of Jefferies Financial Services, Inc. and Citibank, N.A. Pursuant to the terms of the option transaction, CDF will sell call options referencing up to 1,000,000 shares of the Issuer in total and pledge a corresponding number of the underlying shares to each of Jefferies Financial Services, Inc. and Citibank, N.A. FN 3 Aggregate Market Value: Price based on opening stock price of $172.09 on October 25, 2023.
10/25/2023
/s/ William Milmoe