NYC Comptroller Levine Reverses Pledge on Israel Bonds Investment

New York City Comptroller Mark Levine announced he will not reinvest the city’s pension funds in Israel bonds, a significant shift from a pledge made during his 2025 campaign. Levine stated that the decision was based solely on financial considerations and technical challenges, rather than political motives.

During a Democratic primary debate in June 2025, Levine, who manages $325 billion in city pension funds, expressed support for including Israel bonds in the city's globally diversified portfolio, noting their historical solid dividends. "We have a globally diversified portfolio, and that should include investments in Israel and Israel bonds, which have paid solid dividends for 75 years," he said at the time.

However, Levine recently told The New York Times, "I always said this would be based on financial considerations only, not politics — that’s still my position. But as of now, we feel that because of some technical challenges, and because of financial considerations, that this is not an investment that we can make right now."

This reversal has drawn criticism from several figures. Former City Comptroller Scott Stringer expressed concern that Levine's decision could embolden the Boycott, Divestment, and Sanctions (BDS) movement and contribute to antisemitism. "This inaction will further empower the BDS movement around the country. That is my worry. And it could continue to contribute to more antisemitism," Stringer told The Post.

Dov Hikind, founder of Americans Against Antisemitism, labeled Levine a "coward" and a "sellout" for what he described as appeasing critics on the left.

Levine's predecessor, Brad Lander, had previously divested $40 million in Israel bonds from the city's investments, which had been held since the 1970s. In contrast, the New York state pension system, managed by Comptroller Tom DiNapoli, holds over $360 million in Israeli investments.

Jeffrey Wiesenfeld, a financier and former CUNY trustee, criticized Levine's decision, stating that the Israel bonds remain a high-quality investment with historically strong returns, especially given current U.S. Treasury rates. Rating agencies S&P Global and Moody's had previously downgraded Israel bonds during the war in Gaza but later revised their outlook to stable.

Levine's office maintained that the Comptroller is a strong supporter of Israel and that investment decisions are strictly financial. A spokesperson added that "separately, the City’s pension systems hold a total of $285.42 million in Israel-based public equities and public fixed-income investments through their broader investment portfolios."