Baron Capital Group, Inc., together with subsidiaries BAMCO, Inc. and Baron Capital Management, Inc., and Ronald Baron report beneficial ownership of Class A ordinary shares of On Holding AG. The securities are Class A ordinary shares with a par value of CHF 0.10 per share.
The filing reports that Baron Capital Group and Ronald Baron each beneficially own 16,910,068 Class A shares, representing 5.65% of this class. All reported shares are held with shared voting and shared dispositive power; no sole voting or dispositive power is reported. BAMCO reports shared power and beneficial ownership over 15,323,943 shares, and Baron Capital Management over 1,586,125 shares.
The advisory clients of BAMCO and Baron Capital Management have the right to receive or direct dividends and sale proceeds from these shares, and to the filers’ knowledge no individual client holds more than 5% of the outstanding class. BAMCO and Baron Capital Management are subsidiaries of Baron Capital Group, and Ronald Baron owns a controlling interest in Baron Capital Group.
Positive
None.
Negative
None.
Key Figures
Shares beneficially owned (BCG & Ronald Baron):16,910,068 sharesPercent of Class A shares:5.65%BAMCO shared voting power:15,323,943 shares+2 more
5 metrics
Shares beneficially owned (BCG & Ronald Baron)16,910,068 sharesClass A ordinary shares of On Holding AG reported as beneficially owned
Percent of Class A shares5.65%Beneficial ownership percentage of Class A ordinary shares
BAMCO shared voting power15,323,943 sharesShares of On Holding AG over which BAMCO has shared voting and dispositive power
Baron Capital Management shared voting power1,586,125 sharesShares of On Holding AG over which Baron Capital Management has shared voting and dispositive power
Par value per shareCHF 0.10 per sharePar value of On Holding AG Class A ordinary shares
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
shared voting powerfinancial
"Shared Voting Power 16,910,068.00 7 | Sole Dispositive Power 0.00 8 | Shared Dispositive Power"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
shared dispositive powerfinancial
"Shared Voting Power 16,910,068.00 7 | Sole Dispositive Power 0.00 8 | Shared Dispositive Power"
investment adviserfinancial
"12 IA, Baron Capital Group, Inc. 2 | 4 | Citizenship"
An investment adviser is a person or firm that professionally manages money and gives recommendations about buying, selling, or holding investments. Like a financial coach or guide, they have a legal duty to act in a client's best financial interest, so their advice, fees and potential conflicts can directly affect returns and risk — making their role important for investors who want informed, accountable help with portfolios.
parent holding companyfinancial
"Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company"
FAQ
What stake in On Holding AG (ONON) does Baron Capital Group report?
Baron Capital Group and Ronald Baron report beneficial ownership of 16,910,068 Class A ordinary shares of On Holding AG, representing 5.65% of the Class A share class, all held with shared voting and shared dispositive power through affiliated advisory entities.
How many On Holding AG (ONON) shares does BAMCO, Inc. hold?
BAMCO, Inc. reports beneficial ownership of 15,323,943 Class A ordinary shares of On Holding AG. These shares are held with shared voting and shared dispositive power, with no sole voting or dispositive authority indicated for BAMCO in the Schedule 13G.
What percentage of On Holding AG (ONON) is owned by Baron Capital entities?
Baron Capital Group, Inc. and Ronald Baron each report beneficial ownership of 5.65% of On Holding AG’s Class A ordinary shares. This percentage is based on 16,910,068 shares beneficially owned relative to the total outstanding Class A shares of the issuer.
Who ultimately controls the Baron Capital stake in On Holding AG (ONON)?
Ronald Baron owns a controlling interest in Baron Capital Group, Inc., which in turn is the parent of BAMCO, Inc. and Baron Capital Management, Inc. These affiliated entities collectively hold the reported On Holding AG Class A shares with shared voting and dispositive power.
Do BAMCO and Baron Capital Management clients directly benefit from On Holding AG (ONON) shares?
Yes. The advisory clients of BAMCO and Baron Capital Management have the right to receive, or direct the receipt of, dividends and sale proceeds from the On Holding AG shares held in their accounts, though no single client is known to hold over 5% of the class.
What type of security in On Holding AG (ONON) is reported in this Schedule 13G?
The filing relates to Class A ordinary shares of On Holding AG, each with a par value of CHF 0.10 per share. The reported CUSIP for these securities is H5919C104, identifying the specific listed equity class covered.
Baron Capital Group, Inc. ("BCG"),
BAMCO, Inc. ("BAMCO"),
Baron Capital Management, Inc. ("BCM"),
Ronald Baron
(b)
Address or principal business office or, if none, residence:
767 Fifth Avenue, 49th Floor,
New York, NY 10153
(c)
Citizenship:
BCG, BAMCO and BCM are New York corporations. Ronald Baron is a citizen of the United States.
(d)
Title of class of securities:
Class A ordinary shares, par value CHF 0.10 per share
(e)
CUSIP Number(s):
H5919C104
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
16,910,068
(b)
Percent of class:
5.65 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
16,910,068
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
16,910,068
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The advisory clients of BAMCO and BCM have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Issuer's common stock in their accounts. To the best of the Filing Persons' knowledge, no such person has such interest relating to more than 5% of the outstanding class of securities.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
BAMCO and BCM are subsidiaries of BCG. Ronald Baron owns a controlling interest in BCG.
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
See Item 3.
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
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.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
