New York State Comptroller Tom DiNapoli affirmed his commitment to maintaining investments in Israel Bonds within the state’s extensive pension fund portfolio, despite increasing calls from activists to divest. The announcement comes amid growing pressure from pro-Palestinian advocates, including New York City Council Member Zohran Mamdani, who support withdrawal of financial ties to Israeli government-issued securities.

DiNapoli, a Democrat seeking a fifth term in the upcoming election, oversees the state pension fund valued at approximately $309.7 billion. A spokesman for the comptroller emphasized that the office remains open to investment opportunities both in Israel and globally that serve the fund’s best interests. He confirmed that the pension system holds more than $360 million in Israeli government bonds and equities.

In discussions with pro-Israel activist Dov Hikind, DiNapoli noted that the state’s investments extend beyond bonds to include publicly traded Israeli companies. Hikind, a former Brooklyn assemblyman and founder of Americans Against Antisemitism, praised DiNapoli’s stance and criticized New York City Comptroller Mark Levine for reversing a previous campaign position by choosing not to reinvest city pension funds in Israel Bonds. Levine had earlier committed to reinvesting but recently announced he would refrain from doing so, citing concerns raised by activist Mamdani and others.

Levine’s decision marks a significant departure from his predecessor, Brad Lander, who divested $40 million in Israel Bonds during his tenure. The contrasting approaches of the two comptrollers underscore the ongoing debate within New York’s public finance offices regarding how to balance political advocacy with fiduciary responsibilities.

While DiNapoli continues to prioritize sustained and potentially expanded investments in Israel, Levine’s move reflects a growing willingness among some officials to respond to calls for divestment from Israeli securities. Both hold key roles in managing pension investments for their respective jurisdictions, reflecting differing strategies amid increasingly complex ethical and political considerations surrounding Israel-related assets.