Completed spin-offs
Deals that have separated, measured from the first close on or after the distribution date against SPY over the same window. Dates and ratios are filing-verified; the returns are arithmetic over closing prices and are the only figures here without a filing behind them.
Most of these separations are recent, so most windows are short — a few weeks of trading says very little about a spin-off. 4 additional completed deals have no price coverage from the pricing vendor and are left out of this table; each still has its own deal page.
| Parent → Spinco | Distributed | Window | Ratio | Spinco return | Parent return | SPY | Excess (SPY) | Excess (R2K) | Combined | Excess combined |
|---|---|---|---|---|---|---|---|---|---|---|
| RESIDEO TECHNOLOGIES, INC. REZI → ADI GLOBAL DISTRIBUTION INC. ADIG | 2026-08-03 | 18 days | 1 ADI Global share for every 2 Resideo shares | -4.00% | -19.56% | +1.06% | -5.06% | -5.26% | +29.21% | +26.71% |
| MIDDLEBY Corp MIDD → Midera Food Processing, Inc. MFP | 2026-07-06 | 2 months | 1 Midera share for every 1 Middleby share | +38.55% | -19.89% | +1.92% | +36.63% | +38.20% | +17.97% | +15.16% |
| S&P Global Inc. SPGI → Mobility Global Inc. MBGL | 2026-07-01 | 2 months | 1 Mobility Global share for every 1 S&P Global share | -6.32% | +3.93% | +2.68% | -9.00% | -6.53% | +17.12% | +14.58% |
| HONEYWELL INTERNATIONAL INC HON → Honeywell Aerospace Inc. HONA | 2026-06-29 | 2 months | 1 Honeywell Aerospace share for every 2 Honeywell shares | -25.19% | -5.22% | +3.34% | -28.53% | -25.52% | +28.45% | +23.41% |
| FEDEX CORP FDX → FedEx Freight Holding Company, Inc. FDXF | 2026-06-01 | 3 months | 1 FedEx Freight share for every 2 FedEx shares | -8.17% | -3.96% | +0.95% | -9.12% | -11.97% | +18.75% | +17.53% |
| ENVIRI LLC → Enviri Corp NVRI | 2026-06-01 | 3 months | 1 New Enviri share for every 3 Enviri shares | +7.55% | never listed separately | +0.95% | +6.60% | +3.75% | never listed separately | — |
| Hexagon AB → Octave Intelligence plc OCTV | 2026-05-22 | 3 months | 1 Octave share for every 10 Hexagon shares | +2.14% | never listed separately | +2.69% | -0.55% | -3.06% | never listed separately | — |
| ANAPTYSBIO, INC ANAB → First Tracks Biotherapeutics, Inc. TRAX | 2026-04-20 | 4 months | 1 First Tracks share for every 1 AnaptysBio share | +131.77% | +13.33% | +8.04% | +123.73% | +123.62% | +124.11% | +116.28% |
| Aptiv PLC APTV → Versigent PLC VGNT | 2026-04-01 | 5 months | 1 Versigent ordinary share for every 3 Aptiv ordinary shares | +76.77% | -22.24% | +16.86% | +59.91% | +56.57% | +9.98% | -7.76% |
| Avidity Biosciences, Inc. → Atrium Therapeutics, Inc. RNA | 2026-02-26 | 6 months | 1 Atrium share for every 10 Avidity shares | -10.51% | never listed separately | +11.09% | -21.60% | -23.28% | never listed separately | — |
| COMCAST CORP CMCSA → Versant Media Group, Inc. VSNT | 2026-01-02 | 8 months | 1 Versant share for every 25 Comcast shares | -4.49% | -2.96% | +12.08% | -16.57% | -25.06% | +1.43% | -10.86% |
| DuPont de Nemours, Inc. DD → Qnity Electronics, Inc. Q | 2025-11-01 | 10 months | 1 Qnity share for every 2 DuPont shares | +32.87% | +32.92% | +12.06% | +20.81% | +10.66% | +97.92% | +85.65% |
| HONEYWELL INTERNATIONAL INC HON → Solstice Advanced Materials Inc. SOLS | 2025-10-30 | 10 months | 1 Solstice share for every 4 Honeywell shares | +15.22% | +7.89% | +12.63% | +2.59% | -7.29% | +14.64% | +3.24% |
| CompoSecure, Inc. CMPO → Resolute Holdings Management, Inc. RHLD | 2025-02-28 | 1.5 years | 1 Resolute Holdings share for every 12 CompoSecure shares | +172.60% | stopped trading before the window closed | +28.87% | +143.73% | +132.86% | stopped trading before the window closed | — |
| WESTERN DIGITAL CORP WDC → Sandisk Corporation SNDK | 2025-02-21 | 1.5 years | 1 Sandisk share for every 3 Western Digital shares | +3184.12% | +784.90% | +27.63% | +3156.49% | +3146.40% | +1740.48% | +1715.03% |
| MDU RESOURCES GROUP INC MDU → Everus Construction Group, Inc. ECG | 2024-10-31 | 1.8 years | 1 Everus share for every 4 MDU Resources shares | +139.97% | +24.92% | +34.66% | +105.31% | +102.22% | +221.30% | +189.28% |
| SITE Centers Corp. SITC → Curbline Properties Corp. CURB | 2024-10-01 | 1.9 years | 2 Curbline shares for every 1 SITE Centers share | +30.04% | -82.00% | +34.66% | -4.62% | -7.63% | +243.61% | +210.15% |
| JACOBS SOLUTIONS INC. J → Amentum Holdings, Inc. AMTM | 2024-09-27 | 1.9 years | 1 Amentum share for every 1 Jacobs share | -33.36% | +16.66% | +33.99% | -67.35% | -69.50% | +34.15% | +0.35% |
| Howard Hughes Holdings Inc. HHH → Seaport Entertainment Group Inc. SEG | 2024-07-31 | 2.1 years | 1 Seaport Entertainment share for every 9 Howard Hughes shares | -0.70% | -5.90% | +39.02% | -39.72% | -34.69% | -1.14% | -42.42% |
| AFC Gamma, Inc. AFCG → Sunrise Realty Trust, Inc. SUNS | 2024-07-09 | 2.1 years | 1 Sunrise Realty Trust share for every 3 AFC Gamma shares | -32.30% | -58.87% | +37.76% | -70.06% | -81.24% | -29.88% | -67.78% |
| ILLUMINA, INC. ILMN → GRAIL, Inc. GRAL | 2024-06-24 | 2.2 years | 1 GRAIL share for every 6 Illumina shares | +367.88% | +104.80% | +41.08% | +326.80% | +318.81% | +120.51% | +79.88% |
| Inhibrx, Inc. → Inhibrx Biosciences, Inc. INBX | 2024-05-29 | 2.2 years | 1 Inhibrx Biosciences share for every 4 Inhibrx shares | +203.81% | never listed separately | +45.55% | +158.26% | +155.41% | never listed separately | — |
| GENERAL ELECTRIC CO GE → GE Vernova Inc. GEV | 2024-04-02 | 2.4 years | 1 GE Vernova share for every 4 GE shares | +583.46% | +155.27% | +47.58% | +535.88% | +536.77% | +320.12% | +273.48% |
| 3M CO MMM → Solventum Corporation SOLV | 2024-04-01 | 2.4 years | 1 Solventum share for every 4 3M shares | +29.62% | +90.34% | +46.64% | -17.02% | -14.37% | +127.06% | +80.67% |
| WORTHINGTON ENTERPRISES, INC. WOR → Worthington Steel, Inc. WS | 2023-12-01 | 2.7 years | 1 Worthington Steel share for every 1 Worthington Industries share | +57.34% | +24.80% | +66.79% | -9.45% | -4.88% | +107.67% | +39.90% |
| Alkermes plc. ALKS → Mural Oncology plc MURA | 2023-11-15 | 2.1 years | 1 Mural Oncology share for every 10 Alkermes shares | -46.32% | +19.95% | +51.89% | -98.21% | -86.94% | +18.41% | -33.81% |
| W. P. Carey Inc. WPC → Net Lease Office Properties NLOP | 2023-11-01 | 2.8 years | 1 Net Lease Office Properties share for every 15 W. P. Carey shares | +10.89% | +34.06% | +81.17% | -70.28% | -70.40% | +37.04% | -46.06% |
| KELLANOVA K → WK Kellogg Co KLG | 2023-10-02 | 2.0 years | 1 WK Kellogg share for every 4 Kellogg shares | +72.28% | +46.80% | +54.00% | +18.28% | +34.81% | +48.32% | -5.62% |
| DANAHER CORP /DE/ DHR → Veralto Corporation VLTO | 2023-09-30 | 2.9 years | 1 Veralto share for every 3 Danaher shares | +16.04% | +2.39% | +79.20% | -63.16% | -56.28% | +14.48% | -64.64% |
| Aramark ARMK → Vestis Corp VSTS | 2023-09-30 | 2.9 years | 1 Vestis share for every 2 Aramark shares | -25.40% | +138.89% | +79.20% | -104.60% | -97.72% | +163.93% | +84.81% |
| BORGWARNER INC BWA → PHINIA INC. PHIN | 2023-07-03 | 3.1 years | 1 PHINIA share for every 5 BorgWarner shares | +97.96% | +54.36% | +72.54% | +25.42% | +38.11% | +91.38% | +18.64% |
| LABCORP HOLDINGS INC. LH → Fortrea Holdings Inc. FTRE | 2023-06-30 | 3.1 years | 1 Fortrea share for every 1 Labcorp share | -45.93% | +62.23% | +72.74% | -118.67% | -106.11% | +71.71% | -3.07% |
| MDU RESOURCES GROUP INC MDU → Knife River Corporation KNF | 2023-05-31 | 3.2 years | 1 Knife River share for every 4 MDU Resources shares | +88.95% | +80.05% | +83.25% | +5.70% | +16.33% | +231.15% | +148.91% |
| Sphere Entertainment Co. SPHR → Madison Square Garden Entertainment Corp. MSGE | 2023-04-20 | 3.3 years | 1 new MSG Entertainment share for every 1 share of the former MSG Entertainment | +157.79% | +466.18% | +85.91% | +71.88% | +88.64% | +749.98% | +665.09% |
| Crane NXT, Co. CXT → Crane Company CR | 2023-04-03 | 3.4 years | 1 Crane Company share for every 1 Crane Holdings share | +163.81% | +26.32% | +86.33% | +77.48% | +95.75% | +556.04% | +469.00% |
| Safehold Inc. SAFE → Star Holdings STHO | 2023-03-31 | 3.4 years | 0.153 Star Holdings shares for every 1 iStar share | -43.70% | -47.67% | +87.04% | -130.74% | -111.84% | -43.36% | -133.04% |
| Jefferies Financial Group Inc. JEF → Vitesse Energy, Inc. VTS | 2023-01-13 | 3.6 years | 1 Vitesse Energy share for every 8.49668 Jefferies shares | +18.82% | +35.32% | +92.15% | -73.33% | -41.54% | +41.30% | -51.60% |
| GENERAL ELECTRIC CO GE → GE HealthCare Technologies Inc. GEHC | 2023-01-03 | 3.6 years | 1 GE HealthCare share for every 3 GE shares | +23.69% | +558.67% | +101.07% | -77.38% | -49.30% | +615.84% | +515.62% |
| Fortune Brands Innovations, Inc. FBIN → MasterBrand, Inc. MBC | 2022-12-14 | 3.7 years | 1 MasterBrand share for every 1 Fortune Brands share | +18.31% | -15.82% | +91.72% | -73.41% | -48.16% | -0.72% | -91.21% |
| Fidelity National Financial, Inc. FNF → F&G Annuities & Life, Inc. FG | 2022-12-01 | 3.7 years | 68 F&G shares for every 1,000 Fidelity National Financial shares | +17.98% | +22.73% | +87.96% | -69.98% | -42.46% | +25.86% | -61.96% |
| XPO, Inc. XPO → RXO, Inc. RXO | 2022-11-01 | 3.8 years | 1 RXO share for every 1 XPO share | +18.26% | +508.43% | +99.14% | -80.88% | -45.13% | +616.59% | +518.32% |
| LGL GROUP INC LGL → M-tron Industries, Inc. MPTI | 2022-10-07 | 3.9 years | 1 M-tron share for every 2 LGL Group shares | +432.96% | +40.74% | +111.06% | +321.90% | +355.06% | +945.76% | +840.58% |
| Bluerock Residential Growth REIT, Inc. → Bluerock Homes Trust, Inc. BHM | 2022-10-06 | 3.9 years | 1 Bluerock Homes share for every 8 Bluerock Residential shares | -62.29% | never listed separately | +105.18% | -167.47% | -134.96% | never listed separately | — |
| Biohaven Pharmaceutical Holding Co Ltd. → Biohaven Ltd. BHVN | 2022-10-03 | 3.9 years | 1 Biohaven Ltd. share for every 2 Biohaven Pharmaceutical shares | +66.87% | never listed separately | +108.87% | -42.00% | -10.32% | never listed separately | — |
| Adeia Inc. ADEA → Xperi Inc. XPER | 2022-10-01 | 3.9 years | 4 Xperi Inc. shares for every 10 Xperi Holding shares | -58.25% | +265.09% | +108.87% | -167.12% | -135.44% | +668.72% | +554.34% |
| Fortress Transportation and Infrastructure Investors LLC FTAI → FTAI Infrastructure Inc. FIP | 2022-08-01 | 4.1 years | 1 FTAI Infrastructure share for every 1 FTAI share | +15.76% | +987.09% | +86.41% | -70.65% | -44.49% | +987.72% | +901.86% |
| Encompass Health Corp EHC → Enhabit, Inc. EHAB | 2022-07-01 | 3.9 years | 1 Enhabit share for every 2 Encompass Health shares | -39.31% | +130.55% | +96.25% | -135.56% | -105.26% | +156.23% | +57.91% |
| Vinco Ventures, Inc. BBIG → Eightco Holdings Inc. ORBS | 2022-06-29 | 4.1 years | 1 Cryptyde share for every 10 Vinco Ventures shares | -99.83% | -99.49% | +101.33% | -201.16% | -175.56% | -95.27% | -196.43% |
| Enovis CORP ENOV → ESAB Corp ESAB | 2022-04-04 | 4.4 years | 1 ESAB share for every 3 Colfax shares | +62.80% | -61.24% | +67.63% | -4.83% | +18.53% | -23.86% | -92.92% |
| Becton, Dickinson and Company BDX → Embecta Corp. EMBC | 2022-04-01 | 4.4 years | 1 Embecta share for every 5 BD shares | -82.85% | -6.96% | +69.06% | -151.91% | -127.36% | -5.38% | -74.92% |
| ZIMMER BIOMET HOLDINGS, INC. ZBH → ZimVie Inc. ZIMV | 2022-03-01 | 3.6 years | 1 ZimVie share for every 10 Zimmer Biomet shares | -25.62% | -17.28% | +56.12% | -81.74% | -49.43% | -15.24% | -68.98% |
| Exelon Corporation EXC → Constellation Energy Corporation CEG | 2022-02-01 | 4.6 years | 1 Constellation share for every 3 Exelon shares | +414.77% | +6.16% | +69.05% | +345.72% | +367.27% | +226.09% | +155.90% |
| VECTOR GROUP LTD VGR → Douglas Elliman Inc. DOUG | 2021-12-29 | 4.6 years | 1 Douglas Elliman share for every 2 Vector Group shares | -83.29% | stopped trading before the window closed | +60.37% | -143.66% | -117.81% | stopped trading before the window closed | — |
| REALTY INCOME CORP O → Orion Office REIT Inc. ONL | 2021-11-12 | 4.8 years | 1 Orion Office REIT share for every 10 Realty Income shares | -86.67% | -11.13% | +63.87% | -150.54% | -111.91% | -10.33% | -75.44% |
| Alliance Data Systems Corporation BFH → Loyalty Ventures Inc. LYLT | 2021-11-05 | 16 months | 1 Loyalty Ventures share for every 2.5 Alliance Data shares | -99.56% | -60.30% | -15.96% | -83.60% | -71.29% | -58.01% | -42.34% |
| bluebird bio, Inc. BLUE → 2seventy bio, Inc. TSVT | 2021-11-04 | 3.5 years | 1 2seventy bio share for every 3 bluebird bio shares | -85.13% | -98.99% | +24.86% | -109.99% | -72.27% | -98.46% | -123.91% |
| International Business Machines Corporation IBM → Kyndryl Holdings, Inc. KD | 2021-11-03 | 4.8 years | 1 Kyndryl share for every 5 IBM shares | -52.43% | +93.91% | +64.77% | -117.20% | -78.13% | +97.46% | +31.68% |
| ZIFF DAVIS, INC. ZD → Consensus Cloud Solutions, Inc. CCSI | 2021-10-07 | 4.9 years | 1 Consensus share for every 3 J2 Global shares | -40.24% | -54.85% | +74.56% | -114.80% | -74.59% | -42.74% | -118.81% |
| INTERNATIONAL PAPER CO /NEW/ IP → Sylvamo Corporation SLVM | 2021-10-01 | 4.9 years | 1 Sylvamo share for every 11 International Paper shares | +11.48% | -22.10% | +76.34% | -64.86% | -23.47% | -15.33% | -93.76% |
| XPO, Inc. XPO → GXO Logistics, Inc. GXO | 2021-08-02 | 5.1 years | 1 GXO share for every 1 XPO share | -27.51% | +296.43% | +74.99% | -102.50% | -63.89% | +407.53% | +332.91% |
| Bath & Body Works, Inc. BBWI → Victoria's Secret & Co. VSCO | 2021-08-02 | 5.0 years | 1 Victoria's Secret share for every 3 L Brands shares | +49.06% | -69.59% | +74.27% | -25.21% | +13.72% | -24.94% | -98.85% |
| SolarWinds Corp SWI → N-able, Inc. NABL | 2021-07-19 | 5.1 years | 1 N-able share for every 2 SolarWinds shares | -70.96% | stopped trading before the window closed | +80.18% | -151.14% | -112.63% | stopped trading before the window closed | — |
| DTE ENERGY CO DTE → DT Midstream, Inc. DTM | 2021-07-01 | 5.1 years | 1 DT Midstream share for every 2 DTE Energy shares | +201.69% | +20.86% | +77.90% | +123.79% | +172.06% | +80.11% | +1.23% |
| Merck & Co., Inc. MRK → Organon & Co. OGN | 2021-06-02 | 5.2 years | 1 Organon share for every 10 Merck shares | -62.84% | +110.88% | +82.17% | -145.01% | -94.21% | +114.71% | +32.25% |
Called off
Separations that were announced and then abandoned. They are kept here because most spin-off calendars never remove them — a deal that was called off looks exactly like a deal that is running late, unless somebody reads the filing that ended it.
| Parent → Spinco | Announced | Filing that ended it |
|---|---|---|
| Warner Bros. Discovery, Inc. WBD → Discovery Global (Global Networks) | 2025-06-09 | 8-K 2026-02-27 |