New York Pension Fund Faces Scrutiny Over Increased Investment in Palantir
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New York’s State Common Retirement Fund, one of the largest public pension funds in the United States, has come under fire for substantially increasing its investment in Palantir Technologies, a data analytics company with contracts involving U.S. immigration enforcement.A growing number of New Yorkers are calling for the fund to divest from Palantir,citing ethical concerns and a perceived conflict with New York’s status as a sanctuary state.
Investment Surge Draws Scrutiny
Democratic comptroller candidate Raj goyle initiated a petition on Monday urging State Comptroller Tom DiNapoli to divest the fund’s holdings in Palantir. Public records reveal the fund more than doubled its stake in Palantir between March 31 and september 30, 2025.
According to the petition, the New York State Common Retirement Fund held approximately 1.08 million shares of Palantir, valued at roughly $180 million, as of March 31, 2025. By September 30, 2025, this had increased to about 2.4 million shares, worth over $430 million. The Guardian reported on the increase in investment.
Goyle argues that the significant increase was a intentional decision made by DiNapoli’s office, rather than a result of market fluctuations, and criticizes the comptroller for a lack of clarity regarding the move. “Tom dinapoli is playing a hazardous double game with our community,” Goyle stated. “While he is behind a screen on social media condemning ICE, his investment team is writing half-billion-dollar checks to the company that builds the tools for Trump’s deportation raids.”
Ties to Immigration Enforcement
Palantir’s software is used by U.S. Immigration and Customs enforcement (ICE) for data analytics related to surveillance, detention, and deportation processes. the American Civil Liberties Union (ACLU) has long criticized Palantir’s involvement with ICE, raising concerns about privacy and civil rights.
Further scrutiny stems from the political affiliations of Palantir co-founder Peter Thiel, who has financially supported conservative political causes and figures, including former President Donald Trump and J.D. Vance.
Akshar Patel, an adjunct professor at Hunter College and South Asian community organizer, described the investment as a “profound betrayal of New York values.” “To learn that our own state pension fund is a top-tier shareholder in the software used to target our brothers and sisters is a profound betrayal of New York values,” patel said.
Questions Remain Unanswered
The petition calls on DiNapoli to address several key questions, including the rationale behind the dramatic expansion of the Palantir investment, the ethical and financial considerations that informed the decision, and how the investment aligns with New York’s sanctuary state policies. The campaign emphasizes that it is seeking accountability and transparency, not pursuing legal action.
As of January 26, 2026, DiNapoli has not publicly responded to the concerns raised regarding the Palantir investment. New Yorkers can access and sign the petition online here.
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