Ann: Distribution Scheduled and Top 20, page-14

What is ‘HSBC Custody Nominees (Australia) Limited’?It is what is called a “custodian bank”. A custodian bank’s job is to hold the financial assets of “institutional investors” such as superannuation funds, insurance companies and fund managers.That means that stonking $36 billion is not in fact owned by HSBC at all, but simply held on behalf of a large number of different institutional investors of which we know nothing at all.In HSBC’s case the vast majority (18 of that 21.75 per cent) of its custodial assets are held on behalf of overseas institutional investors.So straight off, we know at least 18 per cent of CBA is foreign-owned, and does not go to “everyday Australians”.

Interesting further information below as who/what these 'nominee' companies are. This was from an article about CBA. But it paints a picture of who owns the shares. 

What is ‘HSBC Custody Nominees (Australia) Limited’?

It is what is called a “custodian bank”. A custodian bank’s job is to hold the financial assets of “institutional investors” such as superannuation funds, insurance companies and fund managers.

That means shares are simply held on behalf of a large number of different institutional investors of which we know nothing at all.

In HSBC’s case the vast majority (18 of that 21.75 per cent) of its custodial assets are held on behalf of overseas institutional investors.So straight off, we know at least 18 per cent of CBA is foreign-owned, and does not go to “everyday Australians”.