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Discover LudwigThe phrase "are owning" is correct and usable in written English, though it is informal.
It can be used to describe someone currently possessing or having control over something, often in a context that emphasizes dominance or success.
Example: "In the latest game, they are owning their opponents with impressive strategies."
Alternatives: "are possessing" or "are controlling".
Dictionary
are owning
verb
To have rightful possession of (property, goods or capital); to have legal title to.
Exact(45)
"The British are owning this mine," he said.
They are owning their own truth and their own reality.
There is no lift in PC sales, and people are owning them longer.
You tuck your peasant blouse into your wide-legged trousers, and you are owning spring.
Even ideologically committed Likud ministers are owning up to the reality that the isolation train has left the station.
The subscription model represents a moment of truth for publishers, who are owning up to the fact that they will be operating as smaller businesses, with smaller audiences.
Similar(15)
(Both channels are owned by News Corp).
Most of these are owned by municipalities.
"They are owned by a hundred people.
(Both restaurants are owned by Danny Meyer).
All forests are owned by the state.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com