SCHEDULE: Baron Entities Report 5.65% Stake in On Holding AG

Multiple Baron Capital entities, including Baron Capital Group, Inc., BAMCO Inc., and Baron Capital Management, Inc., have collectively reported beneficial ownership of 5.65% of On Holding AG's Class A ordinary shares.

Summary

• Baron Capital Group, Inc. (BCG), BAMCO, Inc. (BAMCO), Baron Capital Management, Inc. (BCM), and Ronald Baron have filed a Schedule 13G.
• The filing indicates beneficial ownership of 16,910,068 shares of On Holding AG's Class A ordinary shares.
• This represents 5.65% of the total class of securities.
• BAMCO and BCM are identified as subsidiaries of BCG, with Ronald Baron owning a controlling interest in BCG.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of influencing control of the issuer.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as neutral to slightly positive, indicating a significant but not overwhelming stake in the company by established investment firms. The consistent reporting across multiple entities suggests a coordinated, long-term investment approach.

Positives

• Significant stake reported by established investment firms (Baron Capital entities) suggests confidence in On Holding AG's long-term prospects.
• The reporting is conducted in accordance with regulatory requirements, ensuring transparency.
• The aggregate ownership of 5.65% indicates a substantial investment position.

Negatives

• The filing does not provide details on the acquisition cost or specific investment strategy, limiting deeper financial analysis.
• No forward-looking statements or specific performance targets are included in this disclosure.

Risks

• Potential for increased market activity or price volatility if these entities decide to significantly alter their holdings.
• The concentration of ownership among a few related entities could be a factor in future corporate governance discussions.

Future Outlook

This filing is a disclosure of current ownership and does not contain forward-looking statements or specific future outlook for On Holding AG.

Management Comments

• "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."
• "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."

Industry Context

StockSavvy.ai notes that significant institutional ownership, as reported in this Schedule 13G, is common in the apparel and footwear industry, reflecting investor confidence in established brands and growth potential. The reporting by Baron Capital entities aligns with typical investment patterns for firms specializing in public equities.

Comparison to Industry Standards

• Ownership stakes of 5-10% are generally considered significant for institutional investors and can influence corporate governance and strategic decisions.
• The reporting entities (BAMCO, BCM) are investment advisors, which is a standard classification for firms managing assets on behalf of clients, consistent with industry practices.
• The CUSIP number H5919C104 identifies On Holding AG's Class A ordinary shares, a common security type for publicly traded companies in the consumer discretionary sector.

Related Party Transactions

• BAMCO and BCM are subsidiaries of BCG, and Ronald Baron owns a controlling interest in BCG. This indicates a related party structure among the reporting entities.

Stakeholder Impact

• Shareholders: The significant stake held by Baron Capital entities may influence market perception and potentially impact share price through their trading activities.
• Management/Board: The ownership level could lead to increased engagement or scrutiny from these large investors.
• Creditors: Stable, significant institutional ownership can be viewed positively by creditors as a sign of company stability.

Next Steps

• Continued monitoring of Baron Capital entities' holdings in On Holding AG for any changes.
• Analysis of future SEC filings by On Holding AG for any strategic shifts or financial performance updates.

Key Dates

Keywords

On Holding AG, Baron Capital, Schedule 13G, Beneficial Ownership, Class A ordinary shares, Investment Management, Securities Exchange Act