Rank State Funds Assets (US$Billion) Origin 1 Texas Permanent School Fund & Permanent University Fund 55.2 (August 2016)[3][4] Commodity / Oil & Gas 2 Alaska Alaska Permanent Fund 52.7 (June 2016)[5] Oil 3 New Mexico New Mexico State Investment Council Permanent Funds 20.2 (June 2016)[6] Oil & Gas 4 Wyoming Wyoming Permanent/Endowment Funds 12.6 (March 2017)[7] Minerals 5 North Dakota North Dakota Legacy Fund 3.8 (March 2017)[8] Oil & Gas 6 Alabama Alabama Trust Fund 2.5 (June 2016)[9] Oil & Gas 7 Utah State School Fund 2.0 (March 2015)[10] Public Lands 8 Oregon Oregon Common School Fund 1.4 (December 2016)[11] Public Lands 9 Louisiana Louisiana Education Quality Trust Fund 1.3 (June 2016)[12] Oil & Gas 10 Montana Coal Severance Tax Trust Fund & Public School Trust 1.2 (June 2016)[13] Fossil Fuels / Public Lands