Marks and Spencer, better known as M&S, is one of the most trusted names on the British high street, selling everything from clothes and homeware to sandwiches and ready meals. Many shoppers assume a family or a private equity firm owns it. The real answer is more interesting, and it changed again in November 2026 with fresh results and big new targets.
Who Owns Marks and Spencer in 2026?
Marks and Spencer is owned by the shareholders of Marks and Spencer Group plc, a public company listed on the London Stock Exchange under the ticker MKS. It is part of the FTSE 100, and no single person or company controls it.
Company records back this up. According to Spark Intel’s Companies House summary, the group has no person with significant control on the register, which is normal for a listed company. The government does not own it, no parent company sits above it, and the Marks and Sparks family stopped being owners long ago.
Ownership and Key Stakeholders Table
| Owner / Party | Role | Approx. Stake | Key Detail |
|---|---|---|---|
| Marks and Spencer Group plc (LSE: MKS) | Listed parent company | Owns the M&S business | FTSE 100 member |
| BlackRock | Largest reported shareholder | ~8.6% | Index-fund and asset manager |
| Vanguard | Major shareholder | ~5.1% | Index-fund manager |
| Artemis Investment Management | Active fund manager | ~5% | Stake reported in October 2026 |
| Columbia Management | Institutional shareholder | ~4.5% | US asset manager |
| RWC Partners | Institutional shareholder | ~4.5% | UK active manager |
| Institutions overall | Combined holders | ~72% | Funds, pensions, insurers |
| Public and retail investors | Individual shareholders | ~22% | Anyone can buy MKS shares |
| Ocado Group | Joint venture partner | 50% of Ocado Retail only | Owns no part of M&S itself |
Who Are the Biggest Shareholders of M&S?
The largest reported holder is BlackRock with about 8.6%, according to Investing.com UK. Vanguard, Artemis, Columbia Management, and RWC Partners each hold roughly 4.5% to 5%.
Institutions own around 72% of the shares and the general public about 22%, based on Simply Wall St’s ownership data. The top 25 holders together own just over half. Big asset managers mostly hold these shares on behalf of savers and pension members. Percentages shift by date and data provider, so treat them as close estimates.
The Origin Story: A Penny Bazaar in Leeds
The story starts in 1884, when Michael Marks, a young immigrant from what is now Belarus, opened a stall in a Leeds market. A Leeds warehouse owner named Isaac Dewhirst helped him get started, as the M&S Archive explains.
In 1894, Dewhirst’s cashier Thomas Spencer put in £300 for a half share, and the Marks and Spencer partnership was formed, according to Archives Hub. The business became a limited company in 1903. Spencer died in 1905 and Marks in 1907, leaving the company to the next generation.
How M&S Became a Public Company
Michael’s son Simon Marks and his brother-in-law Israel Sieff drove the company’s growth in the decades that followed. By 1926, the business needed fresh capital, so it became a public company, with strong backing from the Prudential Assurance Company, as this company history records.
That decision is why no family owns M&S today. Over the years, ownership passed from the founding families to thousands of investors. A holding company, Marks and Spencer Group plc, now sits at the top, and M&S returned to the FTSE 100 in 2023 after a four-year absence, as reported by The Telegraph.
Who Runs M&S Today?
Stuart Machin became chief executive in May 2022, after leading the food business, and Archie Norman has chaired the board since September 2017, per the M&S leadership page. The board has extended Norman’s term until 2029.
Together they are credited with a turnaround that tripled the share price from around 130p when Machin took over. They run the company, but they do not own it.
Ocado Retail: The Partnership That Confuses People
Many people think Ocado owns part of M&S, but it is the other way around. In 2019, M&S agreed to pay up to £750 million for 50% of Ocado’s UK grocery business, now called Ocado Retail. Ocado Group holds the other half.
From the 2025/26 financial year, M&S began consolidating Ocado Retail’s results into its own accounts, as its full-year results announcement explains. That is an investment by M&S, not a stake in M&S.
What Happened to M&S in 2025 and 2026
Around Easter 2025, a cyber attack halted M&S online sales for about six weeks and left some shelves empty. Reuters reported the hit at roughly £300 million in lost operating profit before insurance and other offsets, per this report.
Recovery has been strong. On November 4, 2026, M&S said adjusted pre-tax profit for the half-year to September rose to £403.2 million from £184.1 million, with food performing ahead of plan, according to ITV News. Clothing, home, and beauty sales also grew but remained slightly below two years ago, per TheIndustry.fashion.
On November 10, 2026, M&S set medium-term targets and said it will double its full-year dividend to 8.4p, as Drapers reported. Its food arm also competes on price with discounters like Aldi, and M&S says it invests more than £50 million a year to keep those prices competitive.
How M&S Compares With Other UK Retailers
Ownership at British retailers varies widely. Tesco is also publicly listed with no controlling owner, much like M&S. Morrisons went the other way and was taken private by US firm CD&R in 2021.
Asda is majority owned by TDR Capital, and at Wetherspoons founder Sir Tim Martin still holds roughly a quarter of the shares. M&S has no such anchor investor, which is why its shareholders are mostly funds. Its food business is also its fastest-growing arm.
The Bottom Line
Frequently Asked Questions (FAQs)
Q1. Who owns Marks and Spencer in 2026?
The shareholders of Marks and Spencer Group plc own it, and no single person or company controls it.
Q2. Is M&S owned by one family or person?
No. The founding families stopped being owners long ago, and the company has been public since 1926.
Q3. Who is the largest shareholder of M&S?
BlackRock is the largest reported holder, with about 8.6% of the shares.
Q4. Who founded Marks and Spencer?
Michael Marks and Thomas Spencer, who started with a Leeds market stall in 1884 and formed their partnership in 1894.
Q5. Who is the CEO of M&S?
Stuart Machin has been chief executive since May 2022, and Archie Norman is chairman.
Q6. Does Ocado own part of M&S?
No. M&S owns 50% of Ocado Retail, and Ocado Group owns the other 50%.
Q7. Where is M&S listed?
On the London Stock Exchange under MKS, as part of the FTSE 100.
Q8. What happened to M&S in 2025?
A cyber attack around Easter 2025 stopped online sales for about six weeks and cost an estimated £300 million before insurance.
Official website: marksandspencer.com
Marks and Spencer is owned by the shareholders of Marks and Spencer Group plc, listed on the London Stock Exchange as MKS. No family, private equity firm, or government controls it, and the largest reported holder is BlackRock at about 8.6%.
It began as a Leeds market stall in 1884, became a public company in 1926, and is now led by Stuart Machin and Archie Norman. After a damaging 2025 cyber attack, its November 2026 results and dividend plans show a business back on the front foot.