New York’s pension funds, which have exposure to $900 million of Palantir Technologies Inc. stock, are questioning the software company over its business dealings with US Immigration and Customs Enforcement and the Department of Homeland Security.
Both the city and state pension funds are invested in Palantir, with New York City’s five systems holding 2.57 million shares worth $457 million as of Dec. 31, according to a spokesperson for Comptroller Mark Levine. The state has a similar exposure, with investments valued at $437 million as of September. The holdings are through passive investments such as index funds, according to the systems.