But other tobacco stocks still account for more than 5 percent of his fund.
Profits were taken in tobacco stocks for a second day.
"We don't want to attack them for having held tobacco stocks," he said.
At last week's market prices, the funds had about $845 million invested in tobacco stocks.
A1 Florida officials decided to sell off the state retirement fund's $825 million in tobacco stocks.
Not so long ago, tobacco stocks were seen as great defensive investments.
The most recent legal threats have knocked a point or two off some tobacco stocks.
There was a time when tobacco stocks performed quite nicely for a lot of people.
Tobacco stocks were hit hard, and the Dow lost 10.15 points, to 2,920.79.
Screens to eliminate tobacco stocks are the most widely used, the group said.