On Holding AG has disclosed an amendment to its Schedule 13G, revealing that Morgan Stanley and its investment management subsidiary now collectively own 5.4% of the company’s Class A ordinary shares. This move is significant as it underscores the increasing interest from major financial institutions in the rubber and plastics footwear sector.

On Holding AG, which operates under the SIC code 3021, specializes in manufacturing rubber and plastics footwear. The company is publicly traded on the New York Stock Exchange under the ticker symbol ONON. This latest filing, dated November 13, 2026, marks an important update in the company’s shareholder structure.

The filing indicates that Morgan Stanley holds shared voting power over 15,110,626 shares and shared dispositive power over 16,207,602 shares. Additionally, its subsidiary, Morgan Stanley Investment Management Inc., holds shared voting power over 14,079,866 shares and shared dispositive power over 15,160,825 shares. The collective stake of 16,207,602 shares represents a notable investment in On Holding AG.

This increase in ownership by Morgan Stanley may impact various stakeholders, including current shareholders, potential investors, and competitors within the footwear industry. The involvement of a prominent financial institution like Morgan Stanley could enhance On Holding’s market visibility and potentially attract further investment.

The filing does not specify what actions may follow this update, leaving the next steps unclear for stakeholders. However, the engagement of Morgan Stanley in On Holding AG could signal a positive outlook for the company as it navigates the competitive landscape of the rubber and plastics footwear market.