Bern 24 April 2026 (The Capital Post) – Campaigners from Minneapolis have called on the Swiss National Bank (SNB) to sell its estimated US$1.1 billion stake in Palantir Technologies, citing concerns over the company’s involvement in US immigration enforcement and surveillance activities.
The appeal was made during the central bank’s shareholder meeting in Bern, where a delegation representing the Minneapolis city council urged the SNB to reconsider its investment and align it with ethical and human rights standards.
According to available filings, the SNB held approximately 6.24 million shares in Palantir as of the end of 2025, forming part of its broader foreign currency investment portfolio valued at hundreds of billions of Swiss francs.
Campaigners argued that Palantir’s work with US Immigration and Customs Enforcement (ICE), particularly in developing surveillance systems, raises serious concerns about civil liberties and democratic values. The issue has drawn heightened attention following recent incidents involving immigration enforcement actions in Minneapolis.
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Advocacy groups supporting the call said the central bank’s investment lends legitimacy to companies they claim may conflict with widely accepted human rights principles. They urged the SNB to review its holdings in line with its own guidelines, which exclude firms linked to severe violations of fundamental rights.
While Palantir has defended its technology as having safeguards to prevent misuse, the SNB declined to comment on specific investments, noting that its portfolio decisions are typically based on broad market indices rather than individual company selection.
The development highlights growing scrutiny over the role of major financial institutions in funding companies involved in sensitive technologies, particularly as ethical investing becomes an increasingly prominent issue worldwide.-The Capital Post