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Two Democratic challengers to New York State Comptroller Tom DiNapoli\u2019s reelection bid are calling on him to divest the state\u2019s $290 billion pension fund from Palantir Technologies, escalating pressure on the longtime incumbent over the fund\u2019s exposure to a company whose software underpins federal immigration enforcement.<\/p>\n
Two Democratic challengers to New York State Comptroller Tom DiNapoli\u2019<\/a>s reelection bid are calling on him to divest the state\u2019s $290 billion pension fund from Palantir Technologies, escalating pressure on the longtime incumbent over the fund\u2019s exposure to a company whose software underpins federal immigration enforcement.<\/p>\n Raj Goyle, a former Kansas state legislator, and Drew Warshaw, an energy and housing executive, both say that if elected comptroller, they would move to eliminate the fund\u2019s Palantir holdings, arguing that continued investment in Palantir conflicts with New York\u2019s values and its status as a sanctuary state.<\/p>\n Palantir has been providing ICE with data integration and analytics systems for over a decade, including a multimillion-dollar contract to develop an AI-driven enforcement platform that pulls together government records and flags individuals for possible immigration enforcement action. The relationship is one that civil liberties advocates, such as the American Immigration Council<\/a>, say blurs the line between \u201ctool provider\u201d and \u201cenforcement partner.\u201d<\/p>\n Public filings show<\/a> that the New York State Common Retirement Fund reported holding approximately 1.08 million shares of Palantir, valued at about $180 million, as of March 31, 2025. By Sept. 30, the fund\u2019s reported holdings had grown to approximately 2.4 million shares, valued at more than $430 million, reflecting both a larger share count and a sharp rise in the company\u2019s stock price.<\/a><\/p>\n Goyle has described the increase as a conscious escalation that elevated Palantir into one of the fund\u2019s largest reported positions.\n<\/p>\n \u201cThis wasn\u2019t a rounding error,\u201d Goyle said in an interview with amNY. \u201cPalantir became a top-tier holding while its role in immigration enforcement was widely known.\u201d<\/p>\n DiNapoli\u2019s office strongly disputes that characterization, saying the holdings are entirely passive, the result of exposure through broad market index funds rather than discretionary stock-picking.<\/p>\n \u201cLet\u2019s be absolutely clear \u2014 New York does not fund ICE operations,\u201d a spokesperson for DiNapoli said. \u201cThe suggestion that New York is willfully funding these operations is reckless and fundamentally misrepresents how pension investments work.\u201d<\/p>\n Data shows<\/a> that Palantir is a\u00a0top-25 individual holding of the pension fund, but the official 13F report\u00a0filed with the U.S. Securities and Exchange Commission<\/a> does not indicate whether those shares are\u00a0held directly or through passive index strategies.\u00a0<\/p>\n DiNapoli\u2019s spokesperson said that any increase reflects Palantir\u2019s rising market capitalization, not an active decision by the comptroller or his investment staff \u2014 a pattern that has appeared in pension funds across the country, like Or<\/a>egon<\/a> and NYC<\/a>, as Palantir\u2019s stock surged beginning in mid-2024.<\/p>\n Engagement vs. divestment<\/b><\/p>\n Warshaw, who released a video on X on Wednesday criticizing DiNapoli, rejected the argument that passive index investing limits the comptroller\u2019s options.<\/p>\n In the video, Warshaw accused Palantir of serving as the \u201ctechnology backbone\u201d of ICE operations under the Trump administration and said DiNapoli was wrongly portraying himself as powerless to act.<\/p>\n \u201cHe says it\u2019s in an index fund,\u201d Warshaw said. \u201cSo sell the index fund. Build an index that doesn\u2019t include Palantir.\u201d Warshaw argued that the comptroller has more discretion than he acknowledges, including the ability to use customized indices or exclusionary strategies \u2014 tools increasingly used by large institutional investors.<\/p>\n \u201cWhen I\u2019m comptroller,\u201d Warshaw said, \u201cthere will be zero dollars invested in companies enabling these practices.\u201d\n<\/p>\n DiNapoli\u2019s office says the comptroller has taken an engagement-based approach rather than divestment, pressing Palantir to justify its contracts with ICE and to disclose more information about its political spending.<\/p>\n \u201cComptroller DiNapoli categorically condemns ICE\u2019s ongoing terror campaign against immigrant communities,\u201d the spokesperson said, adding that the office is \u201cexploring every responsible avenue to ensure Palantir is not supporting ICE\u2019s abusive enforcement practices.\u201d<\/p>\n Goyle and Warshaw both argue that engagement falls short.\n<\/p>\n \u201cPassive investing isn\u2019t morally neutral,\u201d Goyle said. \u201cIf you can engage a company, you can also decide not to invest in it.\u201d\n<\/p>\n \u201cHundreds of millions of dollars tied to a company like this demands public explanation,\u201d Goyle said. \u201cWhether through divestment or transparency, doing nothing isn\u2019t acceptable.\u201d<\/p>\n A rarely contested incumbent<\/b><\/p>\n Both challengers have tied the Palantir debate to broader critiques of DiNapoli\u2019s management of the pension fund, saying it has underperformed benchmarks<\/a> and paid excessive Wall Street fees<\/a>, while routinely claiming he lacks authority \u2014 on housing investments<\/a>, fossil fuel divestment<\/a>, or Palantir \u2014 despite having significant discretion.<\/p>\n The state comptroller\u2019s office disputes claims of underperformance and has long touted the state fund as among the best-funded public pension systems in the country.<\/p>\n![\"New](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-28-at-6.15.17-PM.jpg\" "\\"ICE-linked")
New York state comptroller candidate Raj Doyle with former Mayor Bill de Blasio at the inauguration ceremony for Mayor Zohran Mamdani on Jan. 1, 2026.Instagram<\/p>\n
\n![\"\"](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-28-at-6.17.56-PM.jpg\" "\\"ICE-linked")
New York state comptroller candidate Drew Warshaw.Screenshot of video from Warshaw campaign\n<\/p>\n