Dan Bin's Q2 holdings revealed: significantly increased positions in Alphabet, newly purchased Tesla, Netflix, and Coinbase

The U.S. stock holdings of Dongfang Gangwan, led by Dan Bin, have recently been revealed.

The 13F report disclosed by the U.S. Securities and Exchange Commission (SEC) shows that as of the end of the second quarter, the Oriental Harbor Investment Fund (referred to as "Dongfang Gangwan Overseas") held a total of 13 U.S. stock targets, with a total market value of $1.127 billion, significantly increasing compared to the end of the first quarter.

In terms of portfolio adjustments, Dongfang Gangwan Overseas made a substantial increase in its holdings of Google in the second quarter and newly invested in Tesla, Netflix, and the digital currency trading platform Coinbase. Dan Bin has previously stated in a communication meeting that artificial intelligence is not a short-term wave but a major technological revolution, and related opportunities are worth focusing on and seizing.

Google Becomes the Largest Holding

According to the SEC's official website, as of the end of the second quarter, the top five holdings of Dongfang Gangwan Overseas were Nvidia, Google's parent company Alphabet, Bank Montreal Medium, ProShares Trust, and Meta.

Compared to the end of the first quarter, Dongfang Gangwan Overseas significantly increased its holdings in Google.

Recently, Alphabet released its financial report for the second quarter of 2025. The report shows that the company achieved revenue of $96.428 billion in the second quarter, a year-on-year increase of 14%; net profit was $28.196 billion, a year-on-year increase of 19%.

The CEO of Alphabet emphasized in the financial report: "AI is positively impacting every part of the company's business, driving strong growth." Specifically, the company's search business achieved double-digit growth through new features such as AI Overviews and AI Mode, while YouTube Shorts has matched the hourly revenue of traditional videos in several countries, showcasing new potential for advertising monetization.

Additionally, the financial report indicates that Alphabet has raised its capital expenditure for 2025 from the previously estimated $75 billion to $85 billion, exceeding Wall Street's previous consensus estimate of $73 billion.

New Faces in the Holdings

In addition to increasing its stake in Google, Dongfang Gangwan Overseas also newly invested in several technology-related targets in the second quarter.

Data shows that in the second quarter, Dongfang Gangwan Overseas newly purchased Tesla, Netflix, and Coinbase, with end-of-period holdings valued at $62.96 million, $57.26 million, and $54.98 million, respectively.

Specifically, Coinbase, as the largest digital currency trading platform in the U.S., covers services such as fiat-to-crypto asset exchange, custody services, on-chain infrastructure, and developer tools platform, and its position in the Web3 ecosystem has gradually risen in recent years Netflix is a U.S. video streaming service provider. In the second quarter of this year, the company achieved operating revenue of $11.079 billion, a year-on-year increase of 16%, and a net profit of $3.125 billion, a year-on-year increase of 46%.

Preference for the Technology Sector

In fact, Dongfang Hongyuan, led by Dan Bin, has favored the technology sector in recent years.

According to statistics from Private Equity Ranking, as of the end of 2024, Dongfang Hongyuan's domestic products have heavily invested in 7 ETFs closely related to U.S. stocks, with a total market value of approximately 931 million yuan. The top ten components of the related ETFs are highly concentrated in U.S. tech giants such as Microsoft, Apple, Google, NVIDIA, and Amazon.

Recently, Dan Bin stated during a roadshow that since 2022, Dongfang Hongyuan has adjusted its investment strategy, gradually shifting its investment focus from the Chinese mainland and Hong Kong markets to the global market. Dongfang Hongyuan recognizes that in the current era of artificial intelligence, it is necessary to seize development opportunities. Therefore, while maintaining a strong presence in China, it aims to actively reach out to the world, striving to benchmark against top domestic enterprises and become a manager that deeply integrates domestic and international dual markets, achieving dual empowerment.

Dan Bin believes that the era of artificial intelligence is not a short-term wave; its evolution cycle is more similar to major technological revolutions such as electronic hardware, the internet, and mobile internet, with a cycle of over 10 years. Given the disruptive nature of advancements in artificial intelligence technology and the potential for creating social wealth, it is expected that the overall market value in this field will have significant growth potential compared to the aforementioned technological eras.

According to Dan Bin, the core secret of Dongfang Hongyuan is to strive to invest in "companies that can change the world" and "companies that are not changed by the world." While rooted in the mainland, it mainly focuses on investing in companies that are not changed by the world, whereas in Hong Kong or overseas investments, it places more emphasis on business models that change the world. Currently, Dongfang Hongyuan's investment focus is concentrated on business models that change the world.

Author of this article: Ma Jiayue, Source: Shanghai Securities Journal, Original title: "Dan Bin, Portfolio Exposure!"

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