Texas is the second most populated state with over 25 million residents. With a population bigger than Australia, there is no surprise that this state has plenty of investment opportunities. Ranging from energy to household names, here are some of the top investment opportunities in Texas.

Exxon Mobil

One of the largest companies in the world, Exxon Mobil Corp. (XOM) is a major oil and gas producer. Number two on the most recent Fortune 500, Exxon Mobil brought in $394 billion in revenue in 2014. Headquartered in Irving, Texas, this giant has nearly $350 billion in assets and employs over 75,000 people worldwide.

Exxon Mobil began as the famed Standard Oil founded by John D. Rockefeller, and was formed in 1999 with the merger of Exxon and Mobil. The company has a refining capacity of 6.3 million barrels daily, which makes it the single largest refiner in the world.

AT&T

AT&T Inc. (T) is headquartered in Dallas, Texas, and is one of America’s largest communications companies. It is the second largest mobile phone provider and largest fixed line provider in the country, and is the third largest company in Texas.

The company was founded in 1874 as Bell Patent Association and became Bell Telephone Company in 1875. In 1885, the company was formally incorporated as American Telephone and Telegraph Company. Today, the company provides a suite of mobile, landline, broadband internet and digital television services.

Kimberly-Clark

Kimberly-Clark Corp. (KMB) is not necessarily a name that you know, but nearly all Americans are familiar with their products. Kimberly-Clark is a household product conglomerate behind brands including Scott, Kleenex, Cottonelle, Depend, Huggies, Kotex and Pull-Ups.

The company claims to reach nearly one in four people in the world every day, and brought in nearly $20 billion in revenue in 2014. Kimberly-Clark is headquartered in Irving, Texas in the Dallas metropolitan area.

Texas Instruments 

Texas Instruments Inc. (TXN) is known by students around the world as the company behind the most popular graphing calculators, but it does a lot more than that. The company produces analog electronics, digital processors, integrated circuits and RFID in addition to the staple calculators. Texas Instruments also has several valuable defense electronics contracts.

Semiconductors account for approximately 96% of the company’s revenues, which totaled $13 billion in 2014.

Southwest Airlines

One of the most popular airlines in the United States, Southwest Airlines Co. (LUV) is known for low fares and a quirky company culture. It recently acquired AirTran and began expanding into international routes.

The company has attracted quite a bit of attention as the airline industry healed from the Great Recession, and has taken bold steps to change how the airline industry operates. The ticker symbol comes from Love Field, the home of Southwest Airlines in Dallas, Texas. 2014 revenues were $18.6 billion. (For more, see: Southwest Airlines Picked The Right Time To Grow.)

Funds for Texas Investments

If you would rather skip individual stocks and invest in mutual funds and ETFs, you have a couple of good options.

First, take a look at The Texas Fund from manager Nashville Capital. The company has at least 80% of assets invested in companies headquartered in Texas, organized in Texas, or derived at least 50% of revenues or profits from activities in Texas. The fund has investments in a variety of companies, including ones mentioned above. However, beware of the 2.65% expense ratio.

Another option is to invest in Texas though its large oil industry. Most energy sector mutual funds and ETFs have a heavy weighting towards Texas, as companies including Exxon Mobil, Phillips 66 (PSX), Valero Energy (VLO), ConocoPhillips (COP), Energy Transfer Equity (ETE), Enterprise Products Partners (EPD), Plains GP Holdings (PAGP), Tesoro Corp (TSO), Halliburton (HAL), National Oilwell Varco (NOV), Baker Hughes (BHI), HollyFrontier (HFC), Apache Corp, Marathon Oil (MRO), Anadarko Petroleum (APC), EOG Resources (EOG) and Kinder Morgan (KMI) are all oil- and gas-related companies headquartered in Texas. And that is just when looking at the 25 largest companies in Texas.

The Bottom Line

If you are looking to invest in any state, Texas offers plenty of great ideas. The variety of industries and powerhouse, blue-chip companies offer safe and diverse investments. At the same time, a tech boom in Austin offers more exciting, speculative investment options. However, beware of the dependence many Texas companies have on oil prices, which can fluctuate and bring any oil company great profits or strained returns. As with any investment do your research first, but you can feel confident investing in some of the plentiful options available in Texas.