<?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>0001859853</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>David Allemann</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>160000</ns2:noOfUnitsSold>
            <ns2:aggregateMarketValue>6936000</ns2:aggregateMarketValue>
            <ns2:noOfUnitsOutstanding>284215277</ns2:noOfUnitsOutstanding>
            <ns2:approxSaleDate>08/22/2024</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>160000</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>David Allemann</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>08/19/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>900</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>38150</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>08/19/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1800</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>76272</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>08/19/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>2700</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>114383</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>08/15/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>7389</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>314365</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>08/13/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>13911</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>591601</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>08/12/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1800</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>72460</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>08/12/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>900</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>36229</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>08/05/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1800</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>67117</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>08/05/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>900</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>33549</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>07/29/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1800</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>71972</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>07/29/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>900</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>35984</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>07/22/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>900</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>36035</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>07/22/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1800</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>72052</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>07/18/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>300</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>12653</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>07/15/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1800</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>67049</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>07/15/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>900</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>33524</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>07/08/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1800</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>67798</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>07/08/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>900</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>33903</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>07/01/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1800</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>68639</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>07/01/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>900</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>34317</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>06/24/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1800</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>70406</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>06/24/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>900</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>35204</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>06/18/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>768</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>32085</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>06/17/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>900</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>37416</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>06/17/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1800</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>74864</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>06/17/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1932</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>81575</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>06/10/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>2700</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>115652</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>06/10/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1800</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>77054</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>06/10/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>900</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>38531</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>06/06/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>250</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>10601</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>06/05/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>2000</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>84147</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>06/04/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>250</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>10225</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>06/03/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>900</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>37329</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>06/03/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1800</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>74656</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>06/03/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>200</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>8455</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>05/30/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>20</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>849</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>05/30/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>27053</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>1154009</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>05/29/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>74980</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>3184486</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>05/29/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>20</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>850</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>05/28/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>527</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>22154</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>05/28/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>1800</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>74585</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>David Allemann</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>05/28/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>900</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>37295</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:noticeSignature>
            <ns2:noticeDate>08/22/2024</ns2:noticeDate>
            <ns2:planAdoptionDates/>
            <ns2:signature>Goldman Sachs &amp; Co. LLC on behalf of David Allemann</ns2:signature>
        </ns2:noticeSignature>
    </ns2:formData>
</ns2:edgarSubmission>
[{"type": "144", "sequence": "1", "filename": "primary_doc.xml", "secsgml_size_bytes": 35793}]
144
0001859853
XXXXXXXX
LIVE
0001858985
On Holding AG
001-40795
Forrlibuckstrasse 190
Zurich
V8
8005
41-44-225-15-55
David Allemann
Other: Co-Founder
Class A Ordinary Shares
Goldman Sachs & Co. LLC
200 West Street
New York
NY
10282
160000
6936000
284215277
08/22/2024
NYSE
Class A Ordinary Shares
01/12/2010
Acquired from issuer in private transaction
Issuer
N
160000
01/12/2010
N/A
N
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
08/19/2024
900
38150
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
08/19/2024
1800
76272
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
08/19/2024
2700
114383
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
08/15/2024
7389
314365
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
08/13/2024
13911
591601
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
08/12/2024
1800
72460
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
08/12/2024
900
36229
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
08/05/2024
1800
67117
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
08/05/2024
900
33549
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/29/2024
1800
71972
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/29/2024
900
35984
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/22/2024
900
36035
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/22/2024
1800
72052
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/18/2024
300
12653
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/15/2024
1800
67049
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/15/2024
900
33524
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/08/2024
1800
67798
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/08/2024
900
33903
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/01/2024
1800
68639
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
07/01/2024
900
34317
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/24/2024
1800
70406
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/24/2024
900
35204
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/18/2024
768
32085
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/17/2024
900
37416
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/17/2024
1800
74864
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/17/2024
1932
81575
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/10/2024
2700
115652
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/10/2024
1800
77054
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/10/2024
900
38531
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/06/2024
250
10601
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/05/2024
2000
84147
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/04/2024
250
10225
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/03/2024
900
37329
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/03/2024
1800
74656
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
06/03/2024
200
8455
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/30/2024
20
849
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/30/2024
27053
1154009
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/29/2024
74980
3184486
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/29/2024
20
850
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/28/2024
527
22154
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/28/2024
1800
74585
David Allemann
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Ordinary Shares
05/28/2024
900
37295
08/22/2024
Goldman Sachs & Co. LLC on behalf of David Allemann