diff --git a/.changeset/ten-cougars-look.md b/.changeset/ten-cougars-look.md
new file mode 100644
index 0000000000..fe20d057dd
--- /dev/null
+++ b/.changeset/ten-cougars-look.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: prevent false-positive ownership validations due to hot reload
diff --git a/packages/svelte/src/internal/client/dev/ownership.js b/packages/svelte/src/internal/client/dev/ownership.js
index a9506cfdc0..2a2527803a 100644
--- a/packages/svelte/src/internal/client/dev/ownership.js
+++ b/packages/svelte/src/internal/client/dev/ownership.js
@@ -220,6 +220,10 @@ function has_owner(metadata, component) {
 
 	return (
 		metadata.owners.has(component) ||
+		// This helps avoid false positives when using HMR, where the component function is replaced
+		[...metadata.owners].some(
+			(owner) => /** @type {any} */ (owner)[FILENAME] === /** @type {any} */ (component)?.[FILENAME]
+		) ||
 		(metadata.parent !== null && has_owner(metadata.parent, component))
 	);
 }