12 Stocks on Jim Cramer’s Radar

7. On Holding AG (NYSE:ONON)

Number of Hedge Fund Holders: 35

Discussing On Holding AG (NYSE:ONON) during the episode, Cramer said:

“Okay, I think On is a great buy. I think it’s got the momentum, but understand when you say longer term, I get a little nervous because sneakers, unless, you know, look what happened [with] even Nike longer term. I think On is a hot sneaker. I think it’s gonna stay hot for another year and then we have to revisit. But I think you’ve got upside on every single pullback on On.”

On Holding (NYSE:ONON) specializes in creating and selling sports products globally, including athletic footwear, apparel, and accessories for running, outdoor activities, training, everyday use, and tennis. Artisan Partners stated the following regarding On Holding AG (NYSE:ONON) in its Q3 2024 investor letter:

“Notable trims in the quarter included Tyler Technologies, Argenx and On Holding AG (NYSE:ONON). On Holding is an emerging global athletic sports brand focusing on performance footwear and apparel. The category is one of the most challenging to break into, requiring a high degree of technical knowledge, significant investment spending and marketing prowess, each of which the company has achieved over the years. The company’s foundation in performance footwear provides a high barrier to entry and a strong and credible foundation for the brand to continue growing. We believe On will generate attractive growth as it scales across product categories, channels and geographies within the $300 billion global sportswear market. Shares rallied in the quarter, and we trimmed the position due to our valuation discipline.”