HSBC is owned by its public shareholders: HSBC Holdings plc is a listed company with its primary market on the London Stock Exchange and a second major listing in Hong Kong, and no single shareholder controls it. The largest disclosed holders in the Annual Report and Accounts 2025 are BlackRock, Inc., with a 9.09% long position as of 11 July 2025, and Ping An Asset Management, with 7.98% as of 7 May 2024.
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Those two names dominate "who owns HSBC" searches for good reason, but the percentages come with dates, legal definitions and caveats that matter. This page uses only figures HSBC itself published and says exactly when each one applies.
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HSBC Holdings plc is widely held by institutional and retail investors across the UK, Hong Kong and other markets. Its annual report names three holders above Hong Kong's disclosure threshold at 31 December 2025: BlackRock, Ping An Asset Management and The Bank of New York Mellon, which holds shares as depositary for HSBC's American Depositary Shares.
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The source is the "Notifiable interests in share capital" section of the 2025 annual report, which reads from the register HSBC keeps under section 336 of Hong Kong's Securities and Futures Ordinance. The report says no further notifications arrived between 31 December 2025 and 19 February 2026.
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BlackRock holds the largest disclosed stake in HSBC, a long position it notified to the company, alongside a much smaller short position. BlackRock is an asset manager, so this position mostly reflects client funds, including index funds, rather than a strategic stake.
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The 2025 annual report records that on 11 July 2025 BlackRock held a long position of 1,586,341,122 HSBC ordinary shares, equal to 9.09% of shares in issue that day, plus a 0.04% short position, under the Hong Kong register. The same report also lists an older UK filing: under the UK Disclosure Guidance and Transparency Rules, BlackRock notified on 3 March 2020 an indirect interest of 1,235,558,490 shares, 6.07% of voting rights at 2 March 2020. The two numbers measure different things under different rulebooks, which is why they differ.
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Ping An Asset Management Co., Ltd. holds the second-largest disclosed stake in HSBC. It belongs to Ping An Insurance, one of China's largest life insurers, and its position is a minority holding with no control rights.
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The 2025 annual report records that on 7 May 2024 Ping An Asset Management held a long position of 1,502,584,731 ordinary shares, representing 7.98% of shares in issue that day, and describes Ping An Insurance as the second-largest life insurer in the PRC. The report also records Ping An's earlier UK notification: an indirect interest of 1,007,946,172 shares, 5.04% of voting rights, on 4 December 2017. HSBC has since bought back shares, so the same number of shares can represent a larger percentage over time even without new buying.
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Three institutions held positions large enough to be disclosed on HSBC's Hong Kong register at 31 December 2025. Each figure is dated to the day the holder crossed or changed a threshold, not to today, and each was reported by the holder rather than calculated by HSBC.
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BNY Mellon's line needs care. The annual report explains that BNY Mellon is the depositary for HSBC ADSs and, under Hong Kong rules, must report the ADS position as both long and short. Its reported short position was 3.20% and its lending pool 2.61% on the same date. The shares underlying the ADSs belong economically to ADS holders, not to BNY Mellon.
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How to read any HSBC ownership percentage you see elsewhere:

HSBC Holdings ordinary shares trade in London under HSBA, which HSBC designates as its primary market, and in Hong Kong under stock code 5. American Depositary Shares trade on the New York Stock Exchange as HSBC, and the shares are also listed on the Bermuda Stock Exchange as HSBC.BH.
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The ticker list and the primary-market designation come from the shareholder information page of the 2025 annual report, which gives HSBC Holdings' address as 8 Canada Square, London. The report also confirms that at least 25% of total issued share capital was held by the public throughout 2025, as Hong Kong listing rules require. Because HSBC files an annual report on Form 20-F with the U.S. SEC, its results also appear on EDGAR, for example the Form 6-K carrying the 2025 results, dated 25 February 2026.
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HSBC Holdings plc owns the group's operating banks. The Hongkong and Shanghai Banking Corporation Limited, the group's founding member and the issuer behind the planned HSBC RedCoin stablecoin, is a wholly owned subsidiary. HSBC also completed the privatisation of Hang Seng Bank in January 2026.
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HSBC's 10 April 2026 Hong Kong release describes The Hongkong and Shanghai Banking Corporation Limited as a wholly owned subsidiary of HSBC Holdings plc. The 2025 annual report says the Hang Seng Bank privatisation became effective on 26 January 2026 and that Hang Seng shares were delisted from the Hong Kong Stock Exchange on 27 January 2026. So anyone asking who owns HSBC UK, HSBC Bank plc or HSBC Hong Kong gets the same answer: HSBC Holdings plc, which is in turn owned by its shareholders.
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Disclosed holdings are snapshots. They update only when a holder crosses a threshold and files, so a percentage can stay in the annual report for years while the real holding drifts. Buy-backs shrink the share count and push percentages up. And the Hong Kong and UK regimes measure positions differently.

No. HSBC Holdings plc is a London-headquartered public company. Ping An Asset Management, part of Chinese insurer Ping An, disclosed a 7.98% long position as of 7 May 2024, per the 2025 annual report. That is a minority stake, below BlackRock's disclosed 9.09% in the same report.
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By HSBC's 2025 annual report, BlackRock, Inc. has the largest disclosed position: a 9.09% long position in ordinary shares as of 11 July 2025, held largely on behalf of clients.
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HSBC Holdings plc is headquartered at 8 Canada Square, London, and names the London Stock Exchange as its primary market. The group was founded in Hong Kong, and The Hongkong and Shanghai Banking Corporation remains its founding member.
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HSBC's 2025 annual report does not list any government among its notifiable shareholders. The only holders above 5% in that report are BlackRock, Ping An Asset Management and BNY Mellon as ADS depositary.
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Yes, through American Depositary Shares listed on the New York Stock Exchange under the symbol HSBC, according to the annual report's stock symbols list.
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All ownership figures come from HSBC's own filing and are stated with the date the holder reported. No figures come from search summaries or third-party ownership aggregators.