NYC Comptroller Mark Levine drops pledge, decides against Israel Bond purchases

Mark Levine, New York City Comptroller responsible for the investment strategy of the city’s five public pension systems, has reversed a campaign commitment and will not reinvest in Israel Bonds, arguing they lack sufficient investment strength. Although he expressed continued personal support for Israel, he stressed that the decision is based on financial criteria, not political considerations. This follows a similar lapse under former Comptroller Brad Lander, who allowed existing Israel Bond holdings to mature without renewal.

Levine’s office highlighted its fiduciary responsibility to protect pension beneficiaries and noted that the city still maintains about $300 million in Israeli equities and a modest amount in Israeli real estate. State Comptroller Thomas DiNapoli, by contrast, continues to hold $360 million in Israel Bonds for New York State. Analysts warned that broader divestment from companies linked to Israel could have significant fiscal implications for the city.