When multilingual learners traverse across cross-border and study-abroad contexts, they enter different sociocultural spaces, negotiate conflicting identities, and may or may not invest in these identities. Addressing the lacuna, this longitudinal case study draws upon the model of investment to conduct a long-term, systematic investigation of the identities and investment of Miranda, a multilingual learner, and a pre-service teacher—as she studied, over seven years, as a university student (B.A.) in mainland China, a taught postgraduate student (M.Ed.) in Hong Kong, and a research student (M.Phil. and Ph.D.) in New Zealand. Findings reveal how Miranda negotiated, constructed, and performed multiple identities in shifting contexts and how the way her capital was valued shaped the way she positioned herself and was positioned by others. Attending to the fluidity and complexity of identities, this study provides educational authorities and teachers with implications for helping to chart the path for empowering students across contexts. Copyright © 2024 Taylor & Francis Group, LLC.