<?xml version="1.0" encoding="UTF-8"?><ns2:edgarSubmission xmlns:com="http://www.sec.gov/edgar/common" xmlns:ns2="http://www.sec.gov/edgar/ownership">
    <ns2:headerData>
        <ns2:submissionType>144</ns2:submissionType>
        <ns2:filerInfo>
            <ns2:filer>
                <ns2:filerCredentials>
                    <ns2:cik>0001859787</ns2:cik>
                    <ns2:ccc>XXXXXXXX</ns2:ccc>
                </ns2:filerCredentials>
            </ns2:filer>
            <ns2:liveTestFlag>LIVE</ns2:liveTestFlag>



        </ns2:filerInfo>
    </ns2:headerData>
    <ns2:formData>
        <ns2:issuerInfo>
            <ns2:issuerCik>0001858985</ns2:issuerCik>
            <ns2:issuerName>On Holding AG</ns2:issuerName>
            <ns2:secFileNumber>001-40795</ns2:secFileNumber>
            <ns2:issuerAddress>
                <com:street1>Forrlibuckstrasse 190</com:street1>
                <com:city>Zurich</com:city>
                <com:stateOrCountry>V8</com:stateOrCountry>
                <com:zipCode>8005</com:zipCode>
            </ns2:issuerAddress>
            <ns2:issuerContactPhone>41-44-225-15-55</ns2:issuerContactPhone>
            <ns2:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Marc Maurer</ns2:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <ns2:relationshipsToIssuer>
                <ns2:relationshipToIssuer>Officer</ns2:relationshipToIssuer>
            </ns2:relationshipsToIssuer>
        </ns2:issuerInfo>
        <ns2:securitiesInformation>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:brokerOrMarketmakerDetails>
                <ns2:name>Goldman Sachs &amp; Co. LLC</ns2:name>
                <ns2:address>
                    <com:street1>200 West Street</com:street1>
                    <com:city>New York</com:city>
                    <com:stateOrCountry>NY</com:stateOrCountry>
                    <com:zipCode>10282</com:zipCode>
                </ns2:address>
            </ns2:brokerOrMarketmakerDetails>
            <ns2:noOfUnitsSold>86560</ns2:noOfUnitsSold>
            <ns2:aggregateMarketValue>3049508.8</ns2:aggregateMarketValue>
            <ns2:noOfUnitsOutstanding>282811865</ns2:noOfUnitsOutstanding>
            <ns2:approxSaleDate>07/28/2023</ns2:approxSaleDate>
            <ns2:securitiesExchangeName>NYSE</ns2:securitiesExchangeName>
        </ns2:securitiesInformation>
        <ns2:securitiesToBeSold>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:acquiredDate>12/21/2017</ns2:acquiredDate>
            <ns2:natureOfAcquisitionTransaction>Acquired from Issuer in private transaction</ns2:natureOfAcquisitionTransaction>
            <ns2:nameOfPersonfromWhomAcquired>Issuer</ns2:nameOfPersonfromWhomAcquired>
            <ns2:isGiftTransaction>N</ns2:isGiftTransaction>
            <ns2:amountOfSecuritiesAcquired>86560</ns2:amountOfSecuritiesAcquired>
            <ns2:paymentDate>12/21/2017</ns2:paymentDate>
            <ns2:natureOfPayment>NA</ns2:natureOfPayment>
        </ns2:securitiesToBeSold>
        <ns2:nothingToReportFlagOnSecuritiesSoldInPast3Months>N</ns2:nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>06/14/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>108</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>3268.35</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/28/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>980</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>31578.05</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>07/06/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>18678.53</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>07/25/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>10825</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>390603.89</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>05/05/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>19931.08</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>05/05/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>268</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>9022.81</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>06/22/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>17212.52</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/28/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>19011.98</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>05/12/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>980</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>32050.51</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>06/09/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1764</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>54570.57</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>06/13/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>18090.41</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>06/09/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>18026.55</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>07/18/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>980</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>34196.22</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>05/08/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>320</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>10962.14</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>07/14/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>980</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>32358.82</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>07/06/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>18757.73</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>05/05/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>28735</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>984087.55</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>06/01/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>980</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>26617.58</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>06/26/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>18084</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>07/18/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>20693.54</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>06/22/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>980</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>28439.89</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>05/08/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>980</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>33322.45</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>05/16/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>980</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>29573.95</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>07/14/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>19713.41</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>06/29/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>18709.87</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>07/18/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>20775.57</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>05/16/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>18299.85</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>05/12/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>19359.84</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>05/23/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>592</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>15773.07</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>06/09/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>980</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>29713.4</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>05/16/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>17915.42</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>06/29/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>18924.49</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>05/23/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>16141.07</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>06/01/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>16070.75</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>06/13/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>18192.19</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>07/14/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>19503.67</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>05/12/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>19517.78</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>06/29/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>980</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>30884.21</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>05/08/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1265</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>43449.84</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>07/06/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>980</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>30796.11</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>05/24/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>388</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>10112.99</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>07/26/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>19175</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>693084.21</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>06/13/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>872</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>26281.64</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Marc Maurer</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>04/28/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>588</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>19047.5</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:remarks>The sales of shares set forth herein are made in connection with a selling plan dated 9/6/2022 that is intended to comply with Rule 10b5-1(c). The representation below regarding the seller's knowledge of material information was true as of the date the selling plan was entered into.</ns2:remarks>
        <ns2:noticeSignature>
            <ns2:noticeDate>07/28/2023</ns2:noticeDate>
            <ns2:planAdoptionDates>
                <ns2:planAdoptionDate>09/06/2022</ns2:planAdoptionDate>
            </ns2:planAdoptionDates>
            <ns2:signature>Goldman Sachs &amp; Co. LLC on behalf of Marc Maurer</ns2:signature>
        </ns2:noticeSignature>
    </ns2:formData>
</ns2:edgarSubmission>
[{"type": "144", "sequence": "1", "filename": "primary_doc.xml", "secsgml_size_bytes": 37716}]
144
0001859787
XXXXXXXX
LIVE
0001858985
On Holding AG
001-40795
Forrlibuckstrasse 190
Zurich
V8
8005
41-44-225-15-55
Marc Maurer
Officer
Class A Ordinary Shares
Goldman Sachs & Co. LLC
200 West Street
New York
NY
10282
86560
3049508.8
282811865
07/28/2023
NYSE
Class A Ordinary Shares
12/21/2017
Acquired from Issuer in private transaction
Issuer
N
86560
12/21/2017
NA
N
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/14/2023
108
3268.35
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/28/2023
980
31578.05
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/06/2023
588
18678.53
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/25/2023
10825
390603.89
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/05/2023
588
19931.08
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/05/2023
268
9022.81
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/22/2023
588
17212.52
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/28/2023
588
19011.98
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/12/2023
980
32050.51
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/09/2023
1764
54570.57
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/13/2023
588
18090.41
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/09/2023
588
18026.55
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/18/2023
980
34196.22
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/08/2023
320
10962.14
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/14/2023
980
32358.82
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/06/2023
588
18757.73
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/05/2023
28735
984087.55
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/01/2023
980
26617.58
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/26/2023
588
18084
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/18/2023
588
20693.54
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/22/2023
980
28439.89
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/08/2023
980
33322.45
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/16/2023
980
29573.95
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/14/2023
588
19713.41
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/29/2023
588
18709.87
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/18/2023
588
20775.57
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/16/2023
588
18299.85
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/12/2023
588
19359.84
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/23/2023
592
15773.07
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/09/2023
980
29713.4
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/16/2023
588
17915.42
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/29/2023
588
18924.49
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/23/2023
588
16141.07
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/01/2023
588
16070.75
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/13/2023
588
18192.19
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/14/2023
588
19503.67
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/12/2023
588
19517.78
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/29/2023
980
30884.21
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/08/2023
1265
43449.84
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/06/2023
980
30796.11
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/24/2023
388
10112.99
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/26/2023
19175
693084.21
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/13/2023
872
26281.64
Marc Maurer
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
04/28/2023
588
19047.5
The sales of shares set forth herein are made in connection with a selling plan dated 9/6/2022 that is intended to comply with Rule 10b5-1(c). The representation below regarding the seller's knowledge of material information was true as of the date the selling plan was entered into.
07/28/2023
09/06/2022
Goldman Sachs & Co. LLC on behalf of Marc Maurer