Pro-Palestine Activists Urge UT Regents to Divest from Weapons Manufacturers 

A group of pro-Palestinian activists demonstrated at a  University of Texas System Board of Regents meeting Wednesday demanding the divestment of university funds from weapons manufacturers supplying arms to Israel. 

With Palestinian flags rippling in the wind, around 50 protesters marched on the sidewalk outside the UT System Building in downtown Austin, chanting to the beat of a drum. Inside, the regents convened in a quiet boardroom. 

“Today’s protest is because the UT System Board of Regents has their meeting,” said Jake Holtzman, a UT-Austin graduate and protest organizer. “We wanted to bring the pressure to them, to make sure that they know we’re out here continuing the demands for divestment.” 

Protesters included students from Texas public universities, alumni and community members. Several participated in protests at UT-Austin this spring, when law enforcement arrested more than 100 students protesting Israel’s military campaign in Gaza. According to the Gaza Health Ministry, Israeli forces have killed nearly 44,000 people in Gaza since Hamas attacked Israel on  Oct. 7, 2023, killing more than 1,200 civilians and taking 254 hostages.

The regents, who oversee UT System funds, were not scheduled to discuss investments related to Israel, nor did they take public comment on the subject Wednesday.

Instead, small groups of protesters were allowed to enter the meeting after they banged on the doors of the UT System Building. Members of the public are allowed to attend regents meetings but cannot speak without prior authorization. Protesters who joined the meeting stood in silence at the back of the regents’ boardroom, holding signs that echoed their demands for divestment. 

Arshia Papari, a UT Austin student and protest spokesperson, said he had been scheduled to address regents during the meeting’s public comment section, but later learned that they were only hearing comments related to the nursing program at UT-Tyler.

“This board does not want to hear the voices of its students, of its community members, asking for a cessation of the senseless killing overseas with this board, UTIMCO and the State of Texas’ public funds,” Papari said, using the acronym for the agency that manages university investments.

The regents did not issue a statement on the protest Wednesday, and a spokesperson could not be reached for comment. Last month, students attempted to deliver a letter demanding divestment from weapons manufacturers to UT-Austin President Jay Hartzell. 

According to an article published by Stockholm International Peace Research Institute in October, the United States supplies 69% of Israel’s weapons imports. As of 2022, five American companies — Lockheed Martin, Raytheon, Northrop Grumman, Boeing and General Dynamics — were among the highest-grossing weapons manufacturers in the world. 

A 2023 audit of UT System investments showed it had $567,284 in Raytheon, $408,995 in General Dynamics, $1,028,490 in Lockheed Martin, $1,415,585 in Northrop Grumman and $9,104 in Boeing. Together, these investments total close to $3.5 million.

Known as UTIMCO, The University of Texas/Texas A&M Investment Management Company is a not-for-profit corporation contracted by UT System to manage one of the largest public endowment funds in the United States. Three UT System regents serve on UTIMCO’s board. As of Aug. 30, the market value of all UT System endowments was $61.8 billion. 

Stanley Davis, a former UT-Austin student who attended the protest, called Israel’s military campaign in Gaza  “one of the greatest travesties of human history. It’s going to be looked at as one of the darkest periods ever.” 

Davis, who was arrested during UT protests last spring, said he was on edge during Wednesday’s protest but unafraid of arrest.

“Any time you get punished for doing something righteous, that’s a blessing,” Davis said. “It shows that what I’m doing is having an impact.”

Despite heightened law enforcement presence around the protest and inside the building, no arrests were made Wednesday. Police officers watched from across the street while protesters chanted for more than three hours. 

Several cars driving past the protesters honked in support, with at least one driver yelling “Free Palestine.” One pro-Israel protester held signs across the street but declined to be interviewed. 

Holtzman said he doesn’t expect the regents to address their concerns.

 “I don’t think they’re going to listen right now,” Holtzman said. “It’s just important that we keep the pressure on them… This is the first action of many more to continue.”