New York’s massive public pension fund quietly doubled down on a controversial tech company, and now a growing group of New Yorkers wants answers.
Democratic comptroller candidate Raj Goyle announced a petition Monday calling on State Comptroller Tom DiNapoli to divest the New York State Common Retirement Fund from Palantir Technologies, a company whose software plays a central role in federal immigration enforcement.
The fund, which DiNapoli oversees, more than doubled its Palantir holdings in a six-month span during 2025. The increase pushed Palantir into the fund’s top 25 actively managed positions, according to public records cited in the release.
Investment surge draws scrutiny
The campaign says the pension fund held about 1.08 million shares of Palantir on March 31, valued at roughly $180 million. By Sept. 30, holdings had grown to about 2.4 million shares worth more than $430 million.
Goyle said the sharp increase reflects active, discretionary decisions by the comptroller’s office, not a passive market shift. He also criticized DiNapoli for failing to publicly explain the move.
“Tom DiNapoli is playing a dangerous double game with our community,” Goyle said. “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 builds data analytics software used by U.S. Immigration and Customs Enforcement to collect and analyze personal data tied to surveillance, detention, and deportation operations. Civil rights and immigrant advocacy groups have criticized that role for years, according to the release.
The statement also notes that Palantir co-founder Peter Thiel has backed right-wing political causes and supported former President Donald Trump and Vice President J.D. Vance.
Akshar Patel, an adjunct professor at Hunter College and South Asian community organizer, called the investment 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 raises several questions for DiNapoli, including why the fund expanded its Palantir stake so dramatically, what ethical or financial standards guided the decision, and how the investment aligns with New York’s status as a sanctuary state.
The campaign stressed that it is not making a legal allegation, but instead challenging the comptroller’s judgment, priorities, and transparency. It says DiNapoli has never publicly addressed the investment increase despite its size and sensitivity.
New Yorkers can view and sign the petition online, according to the campaign.
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