Full Breakdown
Camden Council’s Palantir Investment Surge Raises Divestment Calls Ahead of By-Election
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Investment Surge in Palantir Amid By-Election
Camden Council’s Local Government Pension Fund (LGPF) saw its holding in Palantir Technologies increase dramatically as the borough prepares for the Holborn and St Pancras by-election. The value of the Palantir stake rose from £276,444 in October 2023 to £3.65 million by December 2025, with the steepest jump occurring between September 2024 and December 2025 when the holding grew from £683,045.88 to £3.65 million.
Background on Camden Council Pension Holdings
The LGPF, which invests deferred wages for council employees, traditionally channels funds through asset managers such as Baillie Gifford and Legal & General. Palestine Solidarity Campaign (PSC)’s Freedom-of-Information requests revealed that Camden held £104 million in companies linked to the Israeli occupation in June 2024; the figure grew to £133.5 million by the end of 2025. The increase reflects both market appreciation and the purchase of additional shares in the identified firms. In addition to Palantir, the council’s holdings include over £10 million in defence contractors supplying the Israel Defence Forces, such as Boeing (£1.69 million), Lockheed Martin (£1.12 million) and Elbit Systems (£46,837).
Financial Growth of Controversial Holdings
- Palantir: £276,444 -> £3.65 million (Oct 2023 – Dec 2025)
- Palantir (Sep 2024 – Dec 2025): £683,045.88 -> £3.65 million
- Total “complicit” portfolio: £28 million (30 % rise since Jun 2024)
- LGPF “complicit” total: £104 million -> £133.5 million (2025)
- Audit (Dec 2025) identified £15.9 million across 46 companies as exposed to “significant human-rights violation concerns”.
Official Council Position
A Camden Council spokesperson emphasized the council’s commitment to “responsible investment principles” and noted that the pension fund operates within broader pooling arrangements that can delay portfolio changes. No separate vote on the specific divestment proposal has been recorded.
Criticism from Campaigners and Councillors
PSC campaigns officer Lorna Russell argued that the ten-fold rise in Palantir’s value highlights concerns about the effectiveness of Camden’s responsible-investment policy and called for immediate divestment. Council leader Sagal Abdi-Wali, the Labour candidate in the by-election, has not publicly addressed Gaza and did not sign PSC’s Candidate Pledge on divestment.
Verbatim Quotes
- “It is beyond shameful that, in the face of Israel’s genocide in Gaza and atrocities across Palestine, Camden council is continuing to funnel many millions of pounds of workers’ deferred wages into companies making these crimes possible.” — Lewis Backon
- “I alone stood up and spoke out against the horrifying situation [in Gaza]” — Awale Olad, the labour councillor
- “He sets a target for each borough and he says ‘I want X number of dwellings to hit my housing target’.The reality is there’s a universe between a dwelling and a house. A house is somewhere you can call home.” — Mr Cameron
- “We never bought this, and I think when I’m dead, some other family who really needs it is going to have it.” — Patsy, long-term resident
- “I was so pleased for you,” — Mr Burnham, UK prime minister
What’s Next
Voters in Holborn and St Pancras will cast ballots on October 8. The official voter-registration deadline is 11.59 pm on Tuesday September 22, 2026. Campaigns are expected to continue highlighting the pension-fund controversy alongside other local issues as the by-election unfolds.