Conine, a first-term Democrat up for re-election in November, said his office was evaluating all current assets and would work to divest tens of millions of dollars from the companies in “the most fiscally prudent manner possible.”

“As Nevada’s chief investment officer, I have a responsibility to ensure Nevada’s tax dollars are invested with minimal exposure to risk,” Conine added in a statement. “Companies that profit on the manufacture and sale of assault-style weapons present a market risk I’m not willing to take.