The Texas Permanent School Fund is a sovereign wealth fund that functions to provide streams of revenue for funding public education within the state of Texas. The fund was established in 1854 by the Texas Legislature’s establishment of the Special School Fund, a predecessor to the Texas Permanent School Fund. The fund’s name would be changed in 1876 under the new constitution of Texas, after the civil war and reconstruction period. Under the new constitution, the fund would also acquire half of the public lands owned by the state as a new endowment. In 1953, the Texas Permanent School Fund would gain even more assets with the Submerged Lands Act, adding more to its territory holdings. The Texas Permanent School Fund is currently headed by commissioner Michael Williams and the Board of Education members are split by district with 15 in total. The Texas Permanent School Fund’s priority goal is to “ensure that all students in the public education system acquire the knowledge and skills to be responsible and independent Texans,” focusing on ensuring that high school graduates have the ability to pursue any higher level education options or secondary training, that various education skillsranging from math and science to English and social studies skills are adequate, and that students are able to demonstrate exemplary performance in foundational subjects. The fund currently has over $36 billion in total endowments made out of various publicly owned lands and other varied investments. The Texas Permanent School Fund’s investments are highly diversified with its highest holdings in the finance and information technology sectors, each making up approximately a fifth of its total asset allocations. The remaining assets are invested in the health care, consumer discretionary, industrials, energy, and utilities and telecommunications sectors, among others to a lesser degree, in order of decreasing allocation.