Two more Minnesota companies have returned to the annual Fortune 500 list this year, bringing the total number of Minnesota-based businesses on the list to 17.

On Tuesday, Fortune magazine unveiled its annual ranking of American businesses by revenue. With the exception of the two returning businesses, Minnesota’s showing on the 2024 list was largely unchanged from last year, though several entrants have moved positions slightly.

Minnetonka-based UnitedHealth Group nudged up one spot to fourth place, while three financial titans moved up significantly on the list. Minneapolis-based U.S. Bancorp bumped up 42 spots to 107th, Ameriprise Financial moved up 35 to 254th, and Securian Financial Group leapt 105 spots to 462nd place.

St. Paul-based Securian was one of the companies to return to the list this year. The other returner was Winona-based industrial distributor Fastenal, which came in 488th place.

To be eligible for the list, companies need not be publicly traded, but they have to be based in the United States. That excludes Medtronic, which maintains an operational headquarters in Fridley but is technically headquartered in Ireland for tax purposes. The medical device giant would likely be a contender for the list if it were based here, though: The company reported a total revenue of over $31.2 billion in its 2023 fiscal year, which would put it on par with 3M, which reported $32.68 billion last year.

Minnesota still stands out for having a large number of Fortune 500 companies on a per capita basis. Neighboring Michigan, with roughly double the population as Minnesota, has just 16 Fortune 500s, for instance.