<SEC-DOCUMENT>0000315066-26-001250.txt : 20260506
<SEC-HEADER>0000315066-26-001250.hdr.sgml : 20260506
<ACCEPTANCE-DATETIME>20260506113008
ACCESSION NUMBER:		0000315066-26-001250
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20260506
DATE AS OF CHANGE:		20260506

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			On Holding AG
		CENTRAL INDEX KEY:			0001858985
		STANDARD INDUSTRIAL CLASSIFICATION:	RUBBER & PLASTICS FOOTWEAR [3021]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				000000000
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-93209
		FILM NUMBER:		26946889

	BUSINESS ADDRESS:	
		STREET 1:		FORRLIBUCKSTRASSE 190
		CITY:			8005 ZURICH
		STATE:			V8
		ZIP:			00000
		BUSINESS PHONE:		41 44 225 15 55

	MAIL ADDRESS:	
		STREET 1:		FORRLIBUCKSTRASSE 190
		CITY:			8005 ZURICH
		STATE:			V8
		ZIP:			00000

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FMR LLC
		CENTRAL INDEX KEY:			0000315066
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		ORGANIZATION NAME:           	
		EIN:				043532603
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		245 SUMMER STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
		BUSINESS PHONE:		6175706339

	MAIL ADDRESS:	
		STREET 1:		245 SUMMER STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FMR CORP
		DATE OF NAME CHANGE:	19920717
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
 <schemaVersion>X0202</schemaVersion>
<headerData>
  <submissionType>SCHEDULE 13G/A</submissionType>
  <previousAccessionNumber>0000315066-22-001889</previousAccessionNumber>
  <filerInfo>
   <filer>
    <filerCredentials>
     <cik>0000315066</cik>
     <ccc>XXXXXXXX</ccc>
    </filerCredentials>
   </filer>
   <liveTestFlag>LIVE</liveTestFlag>


  </filerInfo>
 </headerData>
 <formData>
  <coverPageHeader>
   <amendmentNo>4</amendmentNo>
   <securitiesClassTitle>CLASS A COMMON STOCK</securitiesClassTitle>
   <eventDateRequiresFilingThisStatement>03/31/2026</eventDateRequiresFilingThisStatement>
   <issuerInfo>
    <issuerCik>0001858985</issuerCik>
    <issuerName>ON HOLDING AG</issuerName>
    <issuerCusips>
	 <issuerCusipNumber>H5919C104</issuerCusipNumber>
    </issuerCusips>
    <issuerPrincipalExecutiveOfficeAddress>
     <com:street1>FORRLIBUCKSTRASSE 190, 8005</com:street1>
     <com:city>ZURICH</com:city>
     <com:stateOrCountry>V8</com:stateOrCountry>
     <com:zipCode>00000</com:zipCode>
    </issuerPrincipalExecutiveOfficeAddress>
   </issuerInfo>
   <designateRulesPursuantThisScheduleFiled>
    <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
   </designateRulesPursuantThisScheduleFiled>
  </coverPageHeader>
  <coverPageHeaderReportingPersonDetails>

   <reportingPersonName>FMR LLC</reportingPersonName>
   <citizenshipOrOrganization>DE</citizenshipOrOrganization>
   <reportingPersonBeneficiallyOwnedNumberOfShares>
    <soleVotingPower>24079437.00</soleVotingPower>
    <sharedVotingPower>0.00</sharedVotingPower>
    <soleDispositivePower>24079437.00</soleDispositivePower>
    <sharedDispositivePower>0.00</sharedDispositivePower>
   </reportingPersonBeneficiallyOwnedNumberOfShares>
   <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>24079437.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
   <classPercent>8.1</classPercent>
   <typeOfReportingPerson>HC</typeOfReportingPerson>
  </coverPageHeaderReportingPersonDetails>
  <coverPageHeaderReportingPersonDetails>
   <reportingPersonName>Abigail P. Johnson</reportingPersonName>
   <citizenshipOrOrganization>X1</citizenshipOrOrganization>
   <reportingPersonBeneficiallyOwnedNumberOfShares>
    <soleVotingPower>0.00</soleVotingPower>
    <sharedVotingPower>0.00</sharedVotingPower>
    <soleDispositivePower>24079437.00</soleDispositivePower>
    <sharedDispositivePower>0.00</sharedDispositivePower>
   </reportingPersonBeneficiallyOwnedNumberOfShares>
   <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>24079437.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
   <classPercent>8.1</classPercent>
   <typeOfReportingPerson>IN</typeOfReportingPerson>
  </coverPageHeaderReportingPersonDetails>
  <items>
   <item1>
    <issuerName>ON HOLDING AG</issuerName>
    <issuerPrincipalExecutiveOfficeAddress>FORRLIBUCKSTRASSE 190, 8005,ZURICH,V8,00000</issuerPrincipalExecutiveOfficeAddress>
   </item1>
   <item2>
    <filingPersonName>FMR LLC</filingPersonName>
    <principalBusinessOfficeOrResidenceAddress>245 Summer Street, Boston, Massachusetts 02210</principalBusinessOfficeOrResidenceAddress>
    <citizenship>Not applicable</citizenship>
   </item2>
   <item3>
    <notApplicableFlag>N</notApplicableFlag>
    <typeOfPersonFiling>HC</typeOfPersonFiling>
   </item3>
   <item4>
    <amountBeneficiallyOwned>24079437.00</amountBeneficiallyOwned>
    <classPercent>8.1</classPercent>
    <numberOfSharesPersonHas>
     <solePowerOrDirectToVote>Please see the responses to Items 5 and 6 on the cover page.</solePowerOrDirectToVote>
     <sharedPowerOrDirectToVote>0.00</sharedPowerOrDirectToVote>
     <solePowerOrDirectToDispose>24079437.00</solePowerOrDirectToDispose>
     <sharedPowerOrDirectToDispose>0.00</sharedPowerOrDirectToDispose>
    </numberOfSharesPersonHas>
   </item4>
   <item5>
    <notApplicableFlag>Y</notApplicableFlag>
    <classOwnership5PercentOrLess>N</classOwnership5PercentOrLess>
   </item5>
   <item6>
    <notApplicableFlag>N</notApplicableFlag>
    <ownershipMoreThan5PercentOnBehalfOfAnotherPerson>One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the CLASS A COMMON STOCK of ON HOLDING AG. No one other person's interest in the CLASS A COMMON STOCK of ON HOLDING AG is more than five percent of the total outstanding CLASS A COMMON STOCK.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
   </item6>
   <item7>
    <notApplicableFlag>N</notApplicableFlag>
    <subsidiaryIdentificationAndClassification>See attached Exhibit 99.</subsidiaryIdentificationAndClassification>
   </item7>
   <item8>
    <notApplicableFlag>Y</notApplicableFlag>
   </item8>
   <item9>
    <notApplicableFlag>Y</notApplicableFlag>
   </item9>
   <item10>
    <notApplicableFlag>N</notApplicableFlag>
    <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
   </item10>
  </items>
  <exhibitInfo>Please see Exhibit 99 for 13d-1(k) (1) agreement.</exhibitInfo>
  <signatureInformation>
   <reportingPersonName>FMR LLC</reportingPersonName>
   <signatureDetails>
    <signature>Richard Bourgelas</signature>
    <title>Duly authorized under Power of Attorney effective as of April 13, 2026, by and on behalf of FMR LLC and its direct and indirect subsidiaries*</title>
    <date>05/05/2026</date>
   </signatureDetails>
  </signatureInformation>
  <signatureInformation>
   <reportingPersonName>Abigail P. Johnson</reportingPersonName>
   <signatureDetails>
    <signature>Richard Bourgelas</signature>
    <title>Duly authorized under Power of Attorney effective as of April 13, 2026, by and on behalf of Abigail P. Johnson*</title>
    <date>05/05/2026</date>
   </signatureDetails>
  </signatureInformation>
  <signatureComments>*This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on April 29,2026, accession number: 0000315066-26-000738.
</signatureComments>
 </formData>

</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>exhibit99.txt
<TEXT>

Exhibit 99


Pursuant to the instructions in Item 7 of Schedule 13G, the following table
lists the identity and Item 3 classification, if applicable, of each relevant
entity that beneficially owns shares of the security class being reported on
this Schedule 13G.

Entity   ITEM 3 Classification

FIAM LLC  IA
Fidelity Institutional Asset Management Trust Company  BK
Fidelity Management & Research Company LLC * IA
Fidelity Management Trust Company  BK


* Entity beneficially owns 5% or greater of the outstanding shares of the
security class being reported on this Schedule 13G.


Abigail P. Johnson is a Director, the Chairman and the Chief Executive Officer
of FMR LLC.

Members of the Johnson family, including Abigail P. Johnson, are the
predominant owners, directly or through trusts, of Series B voting common
shares of FMR LLC, representing 49% of the voting power of FMR LLC. The
Johnson family group and all other Series B shareholders have entered into a
shareholders' voting agreement under which all Series B voting common shares
will be voted in accordance with the majority vote of Series B voting common
shares. Accordingly, through their ownership of voting common shares and the
execution of the shareholders' voting agreement, members of the Johnson family
may be deemed, under the Investment Company Act of 1940, to form a controlling
group with respect to FMR LLC.

This filing reflects the securities beneficially owned, or that may be deemed
to be beneficially owned, by FMR LLC, certain of its subsidiaries and
affiliates, and other companies (collectively, the "FMR Reporters"). This
filing does not reflect securities, if any, beneficially owned by certain
other companies whose beneficial ownership of securities is disaggregated from
that of the FMR Reporters in accordance with Securities and Exchange
Commission Release No. 34-39538 (January 12, 1998).


RULE 13d-1(k)(1) AGREEMENT

The undersigned persons, on May 5, 2026, agree and consent to the joint filing
on their behalf of this Schedule 13G in connection with their beneficial
ownership of the CLASS A COMMON STOCK of ON HOLDING AG at March 31, 2026.

FMR LLC

By /s/ Richard Bourgelas
Richard Bourgelas
Duly authorized under Power of Attorney effective as of April 13, 2026, by and
on behalf of FMR LLC and its direct and indirect subsidiaries*

Abigail P. Johnson

By /s/ Richard Bourgelas
Richard Bourgelas
Duly authorized under Power of Attorney effective as of April 13, 2026, by and
on behalf of Abigail P. Johnson*


*This power of attorney is incorporated herein by reference to Exhibit 24 to
the Schedule 13G filed by FMR LLC on April 29,2026, accession number:
0000315066-26-000738.




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
