ANU bought shares in Israeli weapons maker after pledging to stop controversial arms investments

The Australian National University bought $138,000 worth of shares in Israel’s largest weapons manufacturer in March, despite an earlier pledge to not invest in controversial arms companies.

The investments in Elbit Systems were made 12 days after Israel shattered a pause in hostilities with airstrikes that killed more than 400 people in Gaza. At the time, Israel’s prime minister, Benjamin Netanyahu, had warned the renewed military offensive was “only the beginning”.

Elbit Systems is the Israel Defense Forces’ largest contractor and describes itself as the “backbone” of the IDF’s drone fleet, which has been used extensively in the military assault on Gaza.

Monthly investment reports obtained under freedom of information laws confirm the ANU bought 225 shares in Elbit Systems – at a value of $138,086 – on 31 March.

An ANU spokesperson told Guardian Australia on Tuesday that the shares were sold on 5 May, but did not explain why.

On 31 March, Elbit Systems shares were trading at US$380.25 (A$608.82). By 5 May, the price had risen by 5.7%, to US$402 ($643.64).

This suggests the ANU made a profit of around US$7,870 (A$12,601) when the shares were sold.

The value of Elbit Systems shares has skyrocketed in recent years due to increased demand for its weapons and the conflict in Gaza.