The Alaska Permanent Fund Corporation (APFC) is North America’s largest and most notorious SWF. The fund is in charge of investing and managing the state’s excess of capital from oil and gas revenues and is the world’s only SWF to distribute to its citizens an annual dividend – equal to USD 1,312 for all 624,000 Alaskans in 2023. APFC maintains a significantly thin structure, with a ratio of USD 1.32 billion managed per employee, so it relies on external managers from Alaska and abroad for most of its portfolio.