ON HLDG AG ONON
NAMEN AKT A · Common Stock · CUSIP H5919C104
Swiss Performance Running Shoes & Clothing
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($3.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $38.79. Options: 33 managers hold calls ($786.3m notional), 31 hold puts ($415.3m).
Trends to Q2 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 177 |
| Q4 2022 | 194 |
| Q1 2023 | 219 |
| Q2 2023 | 262 |
| Q3 2023 | 286 |
| Q4 2023 | 303 |
| Q1 2024 | 335 |
| Q2 2024 | 376 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 98 | 74 |
| Q1 2023 | 131 | 88 |
| Q2 2023 | 166 | 103 |
| Q3 2023 | 168 | 121 |
| Q4 2023 | 163 | 135 |
| Q1 2024 | 191 | 141 |
| Q2 2024 | 194 | 155 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2023 | $372.2m | $320.6m | 0.86 |
| Q4 2023 | $336.4m | $307.0m | 0.91 |
| Q1 2024 | $627.5m | $409.6m | 0.65 |
| Q2 2024 | $786.3m | $415.3m | 0.53 |
Biggest buyers
| ALLIANCEBERNSTEIN L.P. | New | +11.2m |
| 1832 Asset Management L.P. | Added | +2.4m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Added | +1.9m |
| T. Rowe Price Investment Management, Inc. | New | +1.6m |
| JPMORGAN CHASE & CO | Added | +1.4m |
| ACADIAN ASSET MANAGEMENT LLC | Added | +1.3m |
| Migdal Insurance & Financial Holdings Ltd. | New | +1.1m |
| BANK OF AMERICA CORP /DE/ | Added | +980.8k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | New | +852.9k |
| Qube Research & Technologies Ltd | New | +781.5k |
Biggest sellers
| MORGAN STANLEY | Reduced | -44.4m |
| Select Equity Group, L.P. | Reduced | -3.4m |
| AMERICAN CENTURY COMPANIES INC | Reduced | -1.9m |
| Greenvale Capital LLP | Sold out | -1.8m |
| MARSHALL WACE, LLP | Sold out | -1.6m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -1.6m |
| Anomaly Capital Management, LP | Reduced | -1.6m |
| Atreides Management, LP | Sold out | -1.2m |
| Man Group plc | Reduced | -1.1m |
| Invesco Ltd. | Reduced | -916.7k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $177.2m4.6m shares |
| Walleye Trading LLC | Added | $92.4m2.4m shares |
| Twin Tree Management, LP | Added | $83.7m2.2m shares |
| CITADEL ADVISORS LLC | Reduced | $73.5m1.9m shares |
| JANE STREET GROUP, LLC | Added | $69.3m1.8m shares |
| BARCLAYS PLC | Added | $50.4m1.3m shares |
| Squarepoint Ops LLC | Added | $45.3m1.2m shares |
| SIMPLEX TRADING, LLC | Added | $44.1m1.1m shares |
| D. E. Shaw & Co., Inc. | New | $21.0m541.1k shares |
| GROUP ONE TRADING LLC | Added | $18.9m487.8k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $91.6m2.4m shares |
| CITADEL ADVISORS LLC | Reduced | $59.9m1.5m shares |
| Squarepoint Ops LLC | Added | $45.0m1.2m shares |
| GOLDMAN SACHS GROUP INC | Unchanged | $32.7m842.3k shares |
| SIMPLEX TRADING, LLC | Reduced | $25.3m651.3k shares |
| JANE STREET GROUP, LLC | Reduced | $21.0m540.6k shares |
| Walleye Trading LLC | Reduced | $19.4m499.0k shares |
| Twin Tree Management, LP | Reduced | $14.7m377.6k shares |
| IMC-Chicago, LLC | Reduced | $14.4m370.5k shares |
| JPMORGAN CHASE & CO | Added | $8.2m210.8k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Allemann David Michael 13G · exempt (held before listing) -1.0 pts · filed 2026-08-12 | 12.9% |
| Sicupira Carlos Alberto 13G · passive investor filed 2024-10-31 | 6.6% |
| MORGAN STANLEY 13G · institution new · filed 2026-02-12 | 6.5% |
| BAMCO INC /NY/ 13G · institution new · filed 2026-08-14 | 5.7% |
| FMR LLC 13G · institution -2.7 pts · filed 2026-08-06 | 5.4% |
Fell to 5% or below in the last year: Hoffmann Martin (1.0%, 2026-08-12), ALLIANCEBERNSTEIN L.P. (3.3%, 2025-11-14)
Insider purchases and sales in Q2 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported in Q2 2024.
Holders, Q2 2024
| Manager | Shares | Change |
|---|---|---|
| FMR LLC 0.07% of their portfolio | 28.4m $1.1bn | Unchanged |
| MORGAN STANLEY 0.06% of their portfolio | 19.6m $761.9m | Reduced -44.4m |
| ALLIANCEBERNSTEIN L.P. 0.15% of their portfolio | 11.2m $433.6m | New |
| Select Equity Group, L.P. 1.14% of their portfolio | 7.4m $287.8m | Reduced -3.4m |
| BlackRock Inc. 0.01% of their portfolio | 6.3m $243.8m | Added +373.9k |
| WELLINGTON MANAGEMENT GROUP LLP 0.04% of their portfolio | 6.0m $234.7m | Reduced -242.9k |
| AMERICAN CENTURY COMPANIES INC 0.14% of their portfolio | 5.8m $226.3m | Reduced -1.9m |
| MACQUARIE GROUP LTD 0.22% of their portfolio | 5.0m $195.8m | Reduced -206.2k |
| Nuveen Asset Management, LLC 0.04% of their portfolio | 3.7m $144.9m | Reduced -404.1k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.33% of their portfolio | 3.2m $124.8m | Reduced -224.7k |
| BAMCO INC /NY/ 0.35% of their portfolio | 3.2m $123.7m | Reduced -207.3k |
| Anomaly Capital Management, LP 4.59% of their portfolio | 3.1m $120.5m | Reduced -1.6m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 3.1m $118.7m | Added +271.1k |
| Bond Capital Management, LP 60.70% of their portfolio | 2.8m $109.2m | Unchanged |
| UBS Group AG 0.03% of their portfolio | 2.7m $104.1m | Added +69.6k |
| 1832 Asset Management L.P. 0.17% of their portfolio | 2.4m $93.5m | Added +2.4m |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 2.4m $92.8m | Added +595.4k |
| JENNISON ASSOCIATES LLC 0.05% of their portfolio | 2.2m $85.5m | Added +249.1k |
| Pictet Asset Management Holding SA 0.09% of their portfolio | 2.1m $82.5m | Reduced -238.7k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 2.1m $82.1m | Added +980.8k |
| Allspring Global Investments Holdings, LLC 0.13% of their portfolio | 2.0m $79.2m | Reduced -183.3k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.27% of their portfolio | 1.9m $73.6m | Added +1.9m |
| NORGES BANK 0.01% of their portfolio | 1.9m $71.8m | Reduced -414.0k |
| Artisan Partners Limited Partnership 0.11% of their portfolio | 1.8m $70.4m | Reduced -68.1k |
| WESTFIELD CAPITAL MANAGEMENT CO LP 0.30% of their portfolio | 1.6m $61.3m | Reduced -282.4k |
| T. Rowe Price Investment Management, Inc. 0.04% of their portfolio | 1.6m $60.2m | New |
| ACADIAN ASSET MANAGEMENT LLC 0.18% of their portfolio | 1.5m $59.9m | Added +1.3m |
| Capital Research Global Investors 0.01% of their portfolio | 1.5m $59.5m | Reduced -120.4k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.5m $58.2m | Added +1.4m |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 1.4m $56.2m | Added +773.5k |
| FEDERATED HERMES, INC. 0.12% of their portfolio | 1.3m $49.8m | Reduced -29.4k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.12% of their portfolio | 1.3m $49.7m | Added +642.9k |
| AXA S.A. 0.07% of their portfolio | 1.2m $47.0m | Added +607.3k |
| JANUS HENDERSON GROUP PLC 0.02% of their portfolio | 1.2m $46.4m | Reduced -275.8k |
| FRED ALGER MANAGEMENT, LLC 0.22% of their portfolio | 1.2m $44.7m | Added +213.8k |
| Migdal Insurance & Financial Holdings Ltd. 0.73% of their portfolio | 1.1m $43.5m | New |
| APEIRON CAPITAL Ltd 14.96% of their portfolio | 1.1m $42.9m | Added +385 |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 1.0m $40.5m | Reduced -42.2k |
| VICTORY CAPITAL MANAGEMENT INC 0.04% of their portfolio | 966.7k $37.5m | Reduced -12.9k |
| VILLERE ST DENIS J & CO LLC 3.11% of their portfolio | 948.7k $36.8m | Reduced -15.4k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.03% of their portfolio | 852.9k $33.1m | New |
| Woodline Partners LP 0.31% of their portfolio | 835.6k $32.4m | Added +217.1k |
| BANQUE PICTET & CIE SA 0.33% of their portfolio | 832.0k $32.3m | Unchanged |
| CITIGROUP INC 0.03% of their portfolio | 782.8k $30.4m | Added +675.5k |
| Qube Research & Technologies Ltd 0.06% of their portfolio | 781.5k $30.3m | New |
| CITADEL ADVISORS LLC 0.03% of their portfolio | 777.1k $30.2m | Reduced -495.8k |
| RENAISSANCE TECHNOLOGIES LLC 0.05% of their portfolio | 721.0k $28.0m | New |
| ZEVENBERGEN CAPITAL INVESTMENTS LLC 0.60% of their portfolio | 720.3k $27.9m | Reduced -70.7k |
| Hodges Capital Management Inc. 1.89% of their portfolio | 715.5k $27.8m | Reduced -130.8k |
| OGBORNE CAPITAL MANAGEMENT, LLC 8.52% of their portfolio | 710.2k $27.6m | Added +51.8k |
| NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio | 663.9k $25.8m | Added +24.2k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio | 596.5k $23.1m | Reduced -156.8k |
| Manchester Global Management (UK) Ltd 3.96% of their portfolio | 580.6k $22.5m | Added +6.9k |
| Contour Asset Management LLC 0.75% of their portfolio | 571.5k $22.2m | New |
| SEI INVESTMENTS CO 0.03% of their portfolio | 544.1k $21.1m | Added +18.7k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.20% of their portfolio | 520.1k $20.2m | New |
| Alua Capital Management LP 1.06% of their portfolio | 517.9k $20.1m | New |
| GATES FOUNDATION TRUST 0.04% of their portfolio | 500.0k $19.4m | Unchanged |
| Rheos Capital Works Inc. 0.97% of their portfolio | 476.0k $18.5m | Added +176.0k |
| Amundi 0.01% of their portfolio | 451.8k $16.6m | Reduced -279.9k |
| Arnhold LLC 1.83% of their portfolio | 446.5k $17.3m | Reduced -40.0k |
| ThornTree Capital Partners LP 2.92% of their portfolio | 441.4k $17.1m | Unchanged |
| Liontrust Investment Partners LLP 0.24% of their portfolio | 433.7k $16.8m | Reduced -81.2k |
| SG Americas Securities, LLC 0.10% of their portfolio | 423.7k $16.4m | Added +253.8k |
| CI INVESTMENTS INC. 0.06% of their portfolio | 416.3k $16.2m | Reduced -484.1k |
| HHLR ADVISORS, LTD. 0.39% of their portfolio | 411.4k $16.0m | Unchanged |
| WASATCH ADVISORS LP 0.08% of their portfolio | 402.2k $15.6m | Reduced -16.8k |
| California Public Employees Retirement System 0.01% of their portfolio | 318.7k $12.4m | Added +29.1k |
| Munro Partners 0.45% of their portfolio | 310.9k $12.1m | Reduced -821.2k |
| GAM Holding AG 0.92% of their portfolio | 308.7k $12.0m | Reduced -42.0k |
| Baltimore-Washington Financial Advisors, Inc. 0.68% of their portfolio | 303.4k $11.8m | Added +4.4k |
| Aragon Global Management, LP 4.83% of their portfolio | 291.9k $11.3m | Unchanged |
| FIL Ltd 0.01% of their portfolio | 290.8k $11.3m | Reduced -36.2k |
| DE BURLO GROUP INC 1.47% of their portfolio | 282.8k $11.0m | Added +94.0k |
| LORD, ABBETT & CO. LLC 0.02% of their portfolio | 271.5k $10.5m | New |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 262.4k $10.2m | Added +72.1k |
| Cerity Partners LLC 0.03% of their portfolio | 248.2k $9.6m | Reduced -35.4k |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 247.1k $9.6m | Added +840 |
| VANGUARD GROUP INC 0.00% of their portfolio | 247.0k $9.6m | Added +43.9k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 235.4k $9.1m | Reduced -25.9k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.06% of their portfolio | 225.1k $8.7m | Added +62.2k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 224.9k $8.7m | Reduced -39.8k |
| STATE STREET CORP 0.00% of their portfolio | 224.7k $8.7m | Added +5.5k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 223.0k $8.7m | Added +88.7k |
| Renaissance Capital LLC 4.82% of their portfolio | 222.3k $8.6m | Added +83.5k |
| RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio | 208.1k $8.1m | Added +15.0k |
| PEREGRINE CAPITAL MANAGEMENT LLC 0.23% of their portfolio | 205.3k $8.0m | Reduced -19.0k |
| Wealth High Governance Capital Ltda 1.92% of their portfolio | 200.0k $7.8m | Unchanged |
| Norman Fields, Gottscho Capital Management, LLC 2.38% of their portfolio | 185.6k $6.8m | Added +14.4k |
| THORNBURG INVESTMENT MANAGEMENT INC 0.09% of their portfolio | 169.6k $6.6m | Unchanged |
| STIFEL FINANCIAL CORP 0.01% of their portfolio | 167.6k $6.5m | Reduced -16.3k |
| Headlands Technologies LLC 0.69% of their portfolio | 166.6k $6.5m | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 165.6k $6.4m | Added +36.8k |
| AZZAD ASSET MANAGEMENT INC /ADV 0.75% of their portfolio | 163.9k $6.4m | Reduced -218 |
| Nicholas Investment Partners, LP 0.65% of their portfolio | 160.2k $6.2m | Added +26.4k |
| OSAIC HOLDINGS, INC. 0.01% of their portfolio | 150.7k $5.8m | Added +35.4k |
| PRENTISS SMITH & CO INC 3.80% of their portfolio | 140.4k $5.4m | Reduced -1.3k |
| LPL Financial LLC 0.00% of their portfolio | 136.2k $5.3m | Added +30.0k |
| Governors Lane LP 0.77% of their portfolio | 128.0k $5.0m | New |
| BOKF, NA 0.09% of their portfolio | 122.2k $4.7m | Reduced -11.9k |