<?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>0001859889</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>41-44-225-1555</ns2:issuerContactPhone>
            <ns2:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Olivier Bernhard</ns2:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <ns2:relationshipsToIssuer>
                <ns2:relationshipToIssuer>Other: Co-Founder</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>375400</ns2:noOfUnitsSold>
            <ns2:aggregateMarketValue>23665216</ns2:aggregateMarketValue>
            <ns2:noOfUnitsOutstanding>288759656</ns2:noOfUnitsOutstanding>
            <ns2:approxSaleDate>01/30/2025</ns2:approxSaleDate>
            <ns2:securitiesExchangeName>NYSE</ns2:securitiesExchangeName>
        </ns2:securitiesInformation>
        <ns2:securitiesToBeSold>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:acquiredDate>01/12/2010</ns2:acquiredDate>
            <ns2:natureOfAcquisitionTransaction>Acquired from Issuer in private transaction</ns2:natureOfAcquisitionTransaction>
            <ns2:nameOfPersonfromWhomAcquired>Issuer</ns2:nameOfPersonfromWhomAcquired>
            <ns2:isGiftTransaction>N</ns2:isGiftTransaction>
            <ns2:amountOfSecuritiesAcquired>375400</ns2:amountOfSecuritiesAcquired>
            <ns2:paymentDate>01/12/2010</ns2:paymentDate>
            <ns2:natureOfPayment>N/A</ns2:natureOfPayment>
        </ns2:securitiesToBeSold>
        <ns2:nothingToReportFlagOnSecuritiesSoldInPast3Months>N</ns2:nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>01/29/2025</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>75000</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>4734424.27</ns2:grossProceeds>
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            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>01/28/2025</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>15261</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>950317.61</ns2:grossProceeds>
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            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>01/27/2025</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1600</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>95161.47</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>01/27/2025</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>2250</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>133866.02</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>01/27/2025</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>4000</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>237888.9</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>01/21/2025</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>4000</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>238169.02</ns2:grossProceeds>
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            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>01/21/2025</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>2250</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>133977.44</ns2:grossProceeds>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>01/21/2025</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1600</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>95241.72</ns2:grossProceeds>
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                <ns2:name>Olivier Bernhard</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>01/13/2025</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1600</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>87760.35</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
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                <ns2:name>Olivier Bernhard</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>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>01/13/2025</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>2250</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>123374.33</ns2:grossProceeds>
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                <ns2:name>Olivier Bernhard</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>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>01/13/2025</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>4000</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>219258.87</ns2:grossProceeds>
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                <ns2:name>Olivier Bernhard</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
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                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>01/06/2025</ns2:saleDate>
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            <ns2:grossProceeds>123815.5</ns2:grossProceeds>
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                <ns2:name>Olivier Bernhard</ns2:name>
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                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>01/06/2025</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>24000</ns2:amountOfSecuritiesSold>
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        <ns2:securitiesSoldInPast3Months>
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                <ns2:name>Olivier Bernhard</ns2:name>
                <ns2:address>
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                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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            <ns2:grossProceeds>88011.24</ns2:grossProceeds>
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                <ns2:name>Olivier Bernhard</ns2:name>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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                <ns2:name>Olivier Bernhard</ns2:name>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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                <ns2:name>Olivier Bernhard</ns2:name>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>12/30/2024</ns2:saleDate>
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                <ns2:name>Olivier Bernhard</ns2:name>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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                <ns2:name>Olivier Bernhard</ns2:name>
                <ns2:address>
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                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>12/23/2024</ns2:saleDate>
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                <ns2:name>Olivier Bernhard</ns2:name>
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                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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            <ns2:amountOfSecuritiesSold>1600</ns2:amountOfSecuritiesSold>
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            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</ns2:name>
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                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</ns2:name>
                <ns2:address>
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                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>12/16/2024</ns2:saleDate>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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            <ns2:amountOfSecuritiesSold>4000</ns2:amountOfSecuritiesSold>
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        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</ns2:name>
                <ns2:address>
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                    <com:zipCode>8005</com:zipCode>
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            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>12/16/2024</ns2:saleDate>
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            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</ns2:name>
                <ns2:address>
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                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
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                <ns2:name>Olivier Bernhard</ns2:name>
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                <ns2:name>Olivier Bernhard</ns2:name>
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                <ns2:name>Olivier Bernhard</ns2:name>
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            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Ordinary Shares</ns2:securitiesClassTitle>
            <ns2:saleDate>11/13/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>881</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>47533.97</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>11/13/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>74119</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>4006330.29</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>11/12/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1600</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>82960.76</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>11/12/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>2656</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>137544.83</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>11/12/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>68494</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>3607075.48</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>11/12/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>2250</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>116640.09</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>11/11/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>67150</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>3552649.79</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>11/11/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1600</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>84503.57</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>11/11/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>4000</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>211134.16</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>11/11/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>2250</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>118820.54</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>11/07/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>17980</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>899253.03</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>11/06/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>2020</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>98520.07</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>11/04/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>4000</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>187110.15</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>11/04/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>2250</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>105293.97</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>11/04/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1600</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>74902.52</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Olivier Bernhard</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>11/04/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>24000</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>1123399.68</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:remarks>The sales of shares set forth herein are made in connection with a selling plan dated 6/1/2024 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>01/30/2025</ns2:noticeDate>
            <ns2:planAdoptionDates>
                <ns2:planAdoptionDate>06/01/2024</ns2:planAdoptionDate>
            </ns2:planAdoptionDates>
            <ns2:signature>Goldman Sachs &amp; Co. LLC on behalf of Olivier Bernhard</ns2:signature>
        </ns2:noticeSignature>
    </ns2:formData>
</ns2:edgarSubmission>
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144
0001859889
XXXXXXXX
LIVE
0001858985
On Holding AG
001-40795
Forrlibuckstrasse 190
Zurich
V8
8005
41-44-225-1555
Olivier Bernhard
Other: Co-Founder
Class A Ordinary Shares
Goldman Sachs & Co. LLC
200 West Street
New York
NY
10282
375400
23665216
288759656
01/30/2025
NYSE
Class A Ordinary Shares
01/12/2010
Acquired from Issuer in private transaction
Issuer
N
375400
01/12/2010
N/A
N
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/29/2025
75000
4734424.27
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/28/2025
15261
950317.61
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/27/2025
1600
95161.47
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/27/2025
2250
133866.02
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/27/2025
4000
237888.9
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/21/2025
4000
238169.02
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/21/2025
2250
133977.44
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/21/2025
1600
95241.72
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/13/2025
1600
87760.35
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/13/2025
2250
123374.33
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/13/2025
4000
219258.87
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/06/2025
2250
123815.5
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/06/2025
24000
1321773.1
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/06/2025
1600
88011.24
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/06/2025
4000
219927.12
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
01/06/2025
20000
1101196.68
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/30/2024
1600
88163.79
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/30/2024
4000
220397.5
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/30/2024
2250
124065.59
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/23/2024
4000
226497.34
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/23/2024
1600
90611.07
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/23/2024
2250
127375.41
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/16/2024
2250
130516.11
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/16/2024
4000
232052.68
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/16/2024
1600
92811.54
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/09/2024
1600
88924.66
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/09/2024
2250
125063.12
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/09/2024
4000
222159.48
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/02/2024
20000
1173333.86
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/02/2024
24000
1408212.5
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/02/2024
1600
93916.75
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/02/2024
4000
234749.56
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
12/02/2024
2250
132024.19
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/29/2024
721
41980.88
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/29/2024
58836
3426616.58
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/27/2024
2563
147480.1
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/27/2024
2250
129463.26
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/27/2024
1600
92047.24
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/27/2024
16880
979578.89
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/26/2024
1600
92835.46
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/26/2024
67581
3925625.39
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/26/2024
2250
130546.39
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/26/2024
3569
207089.69
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/25/2024
67150
3922095.92
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/25/2024
1600
93401.38
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/25/2024
2250
131389.48
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/25/2024
4000
233595.87
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/22/2024
75000
4364331.68
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/19/2024
6999
372868.71
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/18/2024
2250
114795.34
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/18/2024
1648
84004.11
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/18/2024
4000
204038.76
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/15/2024
802
41838.92
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/14/2024
74119
3938985.18
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/14/2024
881
46736.01
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/13/2024
881
47533.97
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/13/2024
74119
4006330.29
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/12/2024
1600
82960.76
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/12/2024
2656
137544.83
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/12/2024
68494
3607075.48
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/12/2024
2250
116640.09
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/11/2024
67150
3552649.79
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/11/2024
1600
84503.57
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/11/2024
4000
211134.16
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/11/2024
2250
118820.54
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/07/2024
17980
899253.03
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/06/2024
2020
98520.07
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/04/2024
4000
187110.15
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/04/2024
2250
105293.97
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/04/2024
1600
74902.52
Olivier Bernhard
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
11/04/2024
24000
1123399.68
The sales of shares set forth herein are made in connection with a selling plan dated 6/1/2024 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.
01/30/2025
06/01/2024
Goldman Sachs & Co. LLC on behalf of Olivier Bernhard