Haugen Equity Signals
Haugen Equity Signals is a Las Vegas-based quantitative research firm that sells proprietary multi-factor expected return data feeds covering 13,400+ U.S., European, Japanese, and Emerging Markets stocks to institutional investors including commercial banks, hedge funds, mutual funds, pension funds, and family offices.
- Company typePrivate
- Founded1995
- HeadquartersLas Vegas, United States
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Haugen Equity Signals does
Haugen Equity Signals LLC is a privately-held quantitative investment research firm founded in 1995 (per the company history block) by Bob Haugen, PhD, a pioneer in expected return factor modeling and the leading proponent of the theory that equity markets are inherently inefficient. The company produces a proprietary multi-factor model — the Haugen Model — that analyzes more than 60 factors monthly to generate expected returns and stock alphas for approximately 13,400 U.S., European, Japanese, and Emerging Markets stocks. The model uses a date-stamped database designed to avoid look-ahead and survival bias, and its performance is independently audited through Investars.com, where it has held the #1 quantitative research ranking for six consecutive years.
The firm's customers are exclusively institutional: commercial banks, hedge funds, mutual funds, pension funds, insurance companies, foundations, endowments, and family offices. The product is delivered as a subscription data feed rather than a managed portfolio service, with three pricing tiers — flat AUM-based, AUM + performance hybrid, and pure alpha-based — supplemented by custom model development and exclusive data runs. Distribution is direct via phone and website, with no disclosed channel partnerships or platform integrations.
Following the death of founder Bob Haugen, the company continues to operate from Las Vegas, NV under a small team (1-10 employees) led by Brian Boyer, PhD, a professor of finance at Brigham Young University. The business is self-funded with no disclosed outside investors, no M&A activity, and no recent product launches beyond the 2015 Emerging Markets Model. Operational scope is global across four regions, but headcount and the absence of disclosed revenue or funding suggest a stable, niche B2B data vendor rather than a scaling enterprise.
Haugen Equity Signals firmographics
Firmographics- Name
- Haugen Equity Signals
- Legal name
- Haugen Equity Signals LLC
- Website
- https://quantitativeinvestment.com
- Company type
- Private
- Founded year
- 1995
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Haugen Equity Signals is a Las Vegas-based quantitative research firm that sells proprietary multi-factor expected return data feeds covering 13,400+ U.S., European, Japanese, and Emerging Markets stocks to institutional investors including commercial banks, hedge funds, mutual funds, pension funds, and family offices.
- Ownership category
- akta.pro rank
Haugen Equity Signals industry classification
Industry- Product category
- Quantitative Investment Research
- NAICS
- Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Quant Research & Systematic Strategies (FSACAGAF)
- akta.pro secondary industries
- Equity Research (FSACAGAA), Quant Equity Long/Short (Equity Stat Arb / Factor / ML) (FSAHAAAB), Market-Neutral Equity Long/Short (FSAHAAAD)
Keywords
Where Haugen Equity Signals is headquartered
LocationHeadquarters
- HQ city
- Las Vegas
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Haugen Equity Signals business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Subscription Data Services: Monthly fee for access to data from all four markets (US, European, Japanese, and Emerging Markets). Three pricing structures: Flat fee based on assets under management; Flat fee + performance-based partial AUM plus portfolio performance; Alpha-based portion of alpha produced.
- Custom/Proprietary Model Development: Customized/proprietary versions of the Haugen Model can be built for specific client needs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Flat fee - AUM-based pricing |
| Hybrid | Monthly | Flat fee + performance-based hybrid |
| Outcome Based/ Performance | Monthly | Alpha-based pricing |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Haugen Equity Signals product offering
Product offeringCore offering
Haugen Equity Signals sells proprietary quantitative investment research in the form of monthly expected returns and stock alphas for over 13,400 stocks across the U.S., Europe, Japan, and Emerging Markets. The Haugen Model applies advanced statistical algorithms to more than 60 factors per stock to rank equities and is delivered as subscription data products to institutional investors, with optional custom proprietary model builds and exclusive scheduled data runs.
Product overview
Haugen Equity Signals offers a single, unified quantitative investment research product—a proprietary multi-factor model that produces monthly expected returns and stock alphas for over 13,400 stocks across four geographic markets (U.S., European, Japanese, and Emerging Markets). The core offering is the Haugen Quantitative Research Model, which analyzes 60+ factors using advanced statistical algorithms to predict stock rankings. The company provides several data products tailored to each market (U.S. Stock Predictions, European Stock Predictions, Japanese Stock Predictions, and Emerging Markets Stock Predictions), along with Expected Return History Files for backtesting purposes. Pricing flexibility is offered through three tiers: Flat Fee, Flat Fee + Performance-Based, and Alpha-Based. Custom model development and exclusive data runs are available as add-on services. The research does not include portfolio management—clients use the data to construct their own portfolios. The model is maintained and continuously improved by Brian Boyer, PhD of Brigham Young University.
Differentiator
Problem solved
Functional benefit
Products and services
- Haugen Quantitative Research Model Proprietary quantitative investment research platform producing monthly expected returns and stock alphas for over 13,400 U.S. and international stocks using a 60+ factor statistical model, sold to institutional asset managers and asset owners.
- U.S. Stock Predictions (U.S. Enhanced Model) Monthly expected returns and stock alphas covering the U.S. stock universe of approximately 3,000+ stocks, including the largest stocks and S&P 500 constituents.
- European Stock Predictions (European Model) Monthly expected returns and stock alphas covering approximately 3,000 European stocks plus additional Stoxx 600 index constituents.
- Japanese Stock Predictions (Japanese Model) Monthly expected returns and stock alphas covering Japanese stocks, including the largest 450 stocks before April 2004 and the top 1,600 companies by market capitalization after April 2004.
- Emerging Markets Stock Predictions (Emerging Markets Model) Monthly expected returns and stock alphas covering Emerging Markets stocks, approximately 800–3,200 stocks depending on the time period.
- Expected Return History Files Historical expected-return prediction files for backtesting across U.S., Europe, Japan, and Emerging Markets from 2003 onwards, enabling clients to evaluate model accuracy against realized returns.
- Custom Model Development Customized proprietary versions of the Haugen Model built to a specific client's requirements, distinct from the standard regional subscriptions.
- Exclusive Data Runs Exclusive weekly or monthly data runs delivered on a trading day of the client's choice, providing proprietary signals not available to other subscribers.
Quantifiable outcome
- Top decile consistently outperforms bottom decile across all market models (U.S., Europe, Japan, Emerging Markets)
- +2 more outcomes
Companies that use Haugen Equity Signals
Customer profileNamed customers6 records
Segments2 records
Ideal customer profiles2 records
Haugen Equity Signals technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature3 records
Haugen Equity Signals partnerships and signals
Strategic signalScale indicators6 records
Recent moves5 records
Expansion highlights3 records
Haugen Equity Signals competitors and assessment
Company assessmentBroad incumbents
- MSCI: MSCI is the largest provider of equity factor research, risk models, and ESG analytics to global institutional investors. Comparable because it sells multi-factor expected return and risk analytics to many of the same institutional buyers (pension funds, asset managers) that Haugen serves, though MSCI offers a much broader portfolio of indices, analytics, and data services beyond pure factor research.
- FactSet: FactSet provides integrated financial data, analytics, and quantitative research tools to institutional investors. It is comparable to Haugen because both deliver factor-based stock rankings and quantitative signals used in portfolio construction, but FactSet bundles these inside a much larger enterprise data platform with global coverage.
- Morningstar Equity Research: Morningstar provides equity research, rating systems, and quantitative data to institutional and retail investors globally. It is comparable to Haugen because both deliver equity research and quantitative rankings to institutional clients, though Morningstar is a much broader incumbent spanning data, ratings, and wealth technology.
- FTSE Russell (LSEG): FTSE Russell provides factor indices (e.g., Smart Beta, Style indices) and quantitative research consumed by asset managers constructing factor portfolios. It is comparable to Haugen because both serve institutional investors seeking factor exposure in global equities, though FTSE Russell monetizes primarily through index licensing and ETFs rather than direct factor-signal subscriptions.
- Bloomberg Terminal / Bloomberg Quantitative Research: Bloomberg offers quantitative analytics, factor screens, and expected-return-style research within its terminal and enterprise data products. It is comparable to Haugen because institutional clients use Bloomberg for factor-based stock selection and screening, though Bloomberg is a broad incumbent across data, news, and execution rather than a quant-research specialist.
- S&P Dow Jones Indices: S&P Dow Jones Indices operates factor and style indices (e.g., S&P 500 Pure Value/Growth) widely used by institutions implementing factor strategies. It is comparable to Haugen because both produce factor-based stock rankings serving the same institutional investor base, though S&P monetizes primarily through index licensing and passive products.
Emerging players
- AQR Capital Management: AQR is a global quantitative asset manager whose published factor research (e.g., AQR Factor Investing research) shapes institutional factor-allocation decisions. It is comparable to Haugen because both sell factor-based investment insights to institutions, though AQR primarily monetizes through managed AUM rather than standalone research subscriptions.
Direct peers
- Axioma (Qontigo): Axioma, now part of Qontigo, provides multi-factor equity risk models and expected-return analytics for institutional portfolio managers. It is the closest direct competitor to Haugen because both sell factor-based quantitative signals to institutional asset managers and hedge funds for portfolio construction and risk control, with overlapping methodology and customer profiles.
- Research Affiliates: Research Affiliates is a quantitative asset manager and index provider built around the RAFI smart-beta methodology, producing factor-based expected-return signals and intellectual capital for institutional investors. It is comparable to Haugen because both publish factor research, sell signals/intellectual property to institutions, and compete for the same smart-beta wallet.
- Style Analytics (Rimes): Style Analytics provides factor exposure and style analysis tools for institutional investors measuring and implementing factor portfolios. It is comparable to Haugen because both deliver factor-based stock classification and analytics to the same asset-management and pension-fund buyers, with overlapping methodology in style/factor decomposition.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Haugen Equity Signals social profiles
Digital presenceHaugen Equity Signals financial estimates
Financial estimateRevenue estimate
Valuation estimate
Haugen Equity Signals leadership team
Management profileNumber of profiles
Profiles1 record
Haugen Equity Signals funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Haugen Equity Signals M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Haugen Equity Signals
What does Haugen Equity Signals do?
Haugen Equity Signals sells proprietary quantitative investment research in the form of monthly expected returns and stock alphas for over 13,400 stocks across the U.S., Europe, Japan, and Emerging Markets. The Haugen Model applies advanced statistical algorithms to more than 60 factors per stock to rank equities and is delivered as subscription data products to institutional investors, with optional custom proprietary model builds and exclusive scheduled data runs.
Is Haugen Equity Signals a public or private company?
Haugen Equity Signals is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Haugen Equity Signals founded?
Haugen Equity Signals was founded in 1995. It employs 1 to 10 people.
Where is Haugen Equity Signals based?
Haugen Equity Signals is headquartered in Las Vegas, United States, in the North America region.
How does Haugen Equity Signals make money?
Two revenue lines are on record. Subscription Data Services are the primary driver. The others are custom/Proprietary Model Development.
Who are Haugen Equity Signals's main competitors?
Broad incumbents on record are MSCI, FactSet, Morningstar Equity Research, FTSE Russell (LSEG), Bloomberg Terminal / Bloomberg Quantitative Research and S&P Dow Jones Indices. AQR Capital Management is listed as an emerging player. Direct peers are Axioma (Qontigo), Research Affiliates and Style Analytics (Rimes).
Does Haugen Equity Signals have an API?
No public API is recorded for Haugen Equity Signals.
What industry is Haugen Equity Signals in?
Haugen Equity Signals's product category is Quantitative Investment Research. Its primary akta.pro industry code is FSACAGAF, Quant Research & Systematic Strategies, with a secondary code of FSACAGAA, Equity Research. Its NAICS code is 523940 and its SIC code is 6282.