Brad Lander’s Pension Fund Investments in Palantir

Brad Lander, a former city comptroller now running for council, supervised a substantial increase in New York City’s public pension investments in Palantir Technologies, a data analytics firm whose tools have been utilized by Immigration and Customs Enforcement (ICE) to track and deport undocumented immigrants.

Reports indicate that the city’s five public pension funds notably boosted their investments in Palantir during Lander’s time as chief financial officer. From 2022 to 2024, the value of this investment skyrocketed from about $17.6 million to nearly $56.6 million.

This growth in investment seems somewhat at odds with Lander’s known opposition to ICE. He has actively criticized the agency, participated in protests at Federal Plaza, and has been arrested multiple times while monitoring immigration court processes. It’s a curious juxtaposition, especially considering his current challenge to Congressman Dan Goldman in New York’s 10th Congressional District Democratic primary.

The city’s pension fund had actually decreased its Palantir holdings from June 2021 to June 2022. Although Lander assumed the auditor role in January 2022, it remains unclear whether those transactions took place prior to or after his taking office. After that timeframe, there was a clear rebound in investments in the company.

The Teachers’ Retirement System (TRS), which manages pensions for public school educators, saw the most significant uptick. By June 2024, TRS’s Palantir holdings reached around $10.9 million, but a year later, they surged to about $60.8 million, eclipsing all other city pension fund investments in Palantir.

Lander’s campaign argues that legal restrictions on pension fund investments differentiate his responsibilities as an auditor from his political views. His team asserts that his fiduciary obligations prevented him from leveraging the pension funds for political purposes, although they emphasize a commitment to combatting Palantir’s role in ICE’s activities if elected to Congress.

As of June 30, 2025, the comptroller manages $294.6 billion in assets for over 750,000 public workers. The pension funds reported a robust net return of 10.3% for the fiscal year, surpassing the expected 7% target.

Before serving as comptroller, Lander was a city council member for 12 years. His public dissent against ICE began in the Trump administration, which included joining protests against Amazon’s involvement with ICE’s activities. He even questioned whether the ICE was using Amazon’s facial recognition technology to monitor protests back in 2019.

Recently, during his mayoral campaign, Lander gained international attention for being arrested by ICE agents while observing court proceedings. His congressional campaign has made his opposition to Trump-era immigration policies a focal point. In a video announcement, he referenced fighting back against ICE’s actions by recalling his arrest.

Palantir’s significant role in federal immigration enforcement has raised eyebrows, with various reports detailing its use in collecting and integrating personal and federal data to assist ICE in tracking individuals. Throughout his tenure, Lander has maintained that investment choices should reflect fiduciary duty rather than political affiliations. Investment decisions are made collaboratively, with oversight from the pension systems’ boards and external asset managers.

During Lander’s time in office, the pension committee grappled with other contentious investments as well. He has previously made appeals for trustees to address major asset management decisions, prioritizing environmental considerations aligned with the city’s net-zero policy.

The complexity of Lander’s investments—as indicated by recent findings linking his pension fund oversight to controversial investments, such as in Israeli arms manufacturers—has stirred discussions about his progressive credentials compared to other candidates, particularly on immigration and foreign policy. As of now, Goldman’s team has not provided feedback on these matters.