The Fortune 500 Companies Located in Minnesota in 2025
Have you ever wondered what the biggest businesses in Minnesota are that push our state, and nation, forward? Below is a list of the Minnesota companies that made the 2025 Fortune 500 list and how they rank on that list.
| Rank | Company | Industry | HQ Location |
|---|---|---|---|
| 3 | UnitedHealth Group | Health Insurance & Services | Minnetonka, MN |
| 41 | Target Corp. | General Merchandise Retail | Minneapolis, MN |
| 105 | U.S. Bancorp | Banking & Financial Services | Minneapolis, MN |
| 108 | Best Buy Co. | Consumer Electronics Retail | Richfield, MN |
| 115 | CHS Inc. | Agricultural Cooperative & Energy | Inver Grove Heights, MN |
| 174 | 3M Co. | Diversified Industrial/Consumer Products | Maplewood, MN |
| 216 | General Mills | Packaged Foods | Golden Valley, MN |
| 230 | Ameriprise Financial | Wealth & Asset Management | Minneapolis, MN |
| 233 | C.H. Robinson Worldwide | Logistics & Freight Brokerage | Eden Prairie, MN |
| 262 | Land O’Lakes | Dairy & Agricultural Inputs | Arden Hills, MN |
| 274 | Eco Lab | Water, Hygiene, & Energy Services | St. Paul, MN |
| 319 | Excel Energy | Regulated Electric & Gas Utility | Minneapolis, MN |
| 352 | Hormel Foods | Branded Protein & Packaged Foods | Austin, MN |
| 388 | Thrivent Financial | Fraternal Financial Services | Minneapolis, MN |
| 462 | Solventum | Medical Technology | Maplewood, MN |
| 464 | Securian Financial | Insurance & Retirement Products | St. Paul, MN |
| 492 | Fastenal Co. | Industrial Distribution | Winona, MN |
How the Fortune 500 Companies List is Determined
If you are curious about how the Fortune 500 list is determined — The Fortune 500 is an annual ranking compiled by Fortune Magazine of the 500 largest U.S.based corporations, ordered strictly by the total revenue they generated in the most recently completed fiscal year. To be considered, a company must be incorporated in the United States (or file U.S. federal tax returns), operate principally in the U.S., and publicly disclose audited financial statements — usually through SEC filings. Large privately held firms such as Koch Industries or Cargill only appear if they voluntarily release fullyear revenue tallies. Subsidiaries of foreign parents are excluded. Revenues are gathered from 10K reports and other filings, then ranked; profits, assets, headcount, and industry tags are published as supplementary data, but they do not influence the order.
Where Minnesota Ranks on the List
In the 2025 edition, released in June 2025 and covering fiscal-year 2024 results, 17 companies headquartered in Minnesota earned spots on the Fortune 500, tying the state for 10th-highest in sheer count and giving the Twin Cities the highest concentration of Fortune-class headquarters per capita in the nation.
Note Worthy Minnesota Companies That Didn’t Make the List
In 2025, it took roughly $8 billion in prior-year sales to clear the 500th slot. Polaris Industries, for example, slipped below that mark and fell off the list, while 3M’s spinoff, Solventum, debuted at No. 462 with $8.2 billion in first-year revenue.
Cargill, Minnesota’s largest enterprise, remains absent because it is privately held and does not publish audited revenue totals, illustrating why some household names never appear despite enormous scale.
Positions can swing sharply with mergers, spin-offs, commodity cycles or regulatory changes. UnitedHealth moved up one slot this year, overtaking Apple for the No. 3 spot, after another double-digit revenue gain despite Medicare-related headwinds.
You may be wondering why our very own Mayo Clinic is not on the list of Fortune 500 companies. Mayo Clinic’s absence has nothing to do with its scale or national standing; it is simply the consequence of Fortune 500’s methodology, which prioritizes forprofit entities (or mutuals/coops that file equivalent regulatory financials) and deliberately leaves out organizations whose nonprofit status exempts them from SECstyle reporting.
The Significance of the List
From an economic standpoint, Fortune 500 firms represent roughly twothirds of U.S. GDP and employ 31 million people; Minnesota’s cohort alone accounts for approximately 600,000 jobs worldwide and anchors a broad supplier ecosystem. Inclusion signals scale and transparency; two traits that help companies negotiate better credit terms, recruit talent, and command investor attention. From a political standpoint, headquarters clusters (the Twin Cities in particular) give Minnesota outsized weight in national debates on health care, retail trade, agriculture and energy.
Sources
https://fortune.com/franchise-list-page/fortune-500-methodology-2022/?utm_source=chatgpt.com
https://www.investopedia.com/terms/f/fortune500.asp?utm_source=chatgpt.com
https://quickcountry.com/minnesota-companies-fortune-500-2025/
Disclosure
Fortress Financial Group LLC (“FFG") is a registered investment advisor. Advisory services are only offered to clients or prospective clients where FFG and its representatives are properly licensed or exempt from licensure.
This content is provided for informational purposes only and should not be construed as legal, tax, or investment advice.
