What Strategas Securities does

Strategas Securities, LLC (DBA Strategas Research Partners) is a New York-headquartered institutional brokerage firm founded in 2006 by Jason De Sena Trennert, providing proprietary macro research, corporate advisory, and capital markets services to institutional investors. Its research platform spans six verticals — Investment Strategy, Economics, Technical Research, Fixed Income Strategy, ETF Research, and Washington Policy Research — supplemented by a Bespoke Research desk for customized institutional projects. Distribution occurs through institutional sales teams in New York, Washington D.C., London, Europe & Middle East, and Asia, plus media appearances on CNBC, Bloomberg, and Fox Business, the "What We Know" podcast, and recurring conferences including the 19th Annual Macro Conference and 15th Annual Policy Conference.

Strategas operates as the macro strategy arm of Robert W. Baird & Co. (Baird Financial Group), a wholly-owned subsidiary since 2018, complementing Baird's equity research platform covering over 700 stocks while remaining an independent FINRA-registered broker-dealer. Its affiliated SEC-registered investment adviser, Strategas Asset Management, manages approximately $550 million AUM across macro-thematic strategies, including the actively-managed Strategas Macro Thematic Opportunities ETF (SAMT) launched in January 2022, plus separately managed portfolios such as Blue Chip Opportunities, Dividend Growth, Earnings Momentum, and Policy Opportunities.

The firm's commercial model combines institutional research subscriptions sold through relationship-based sales, ETF distribution and asset-management fees, bespoke project revenue, and capital markets / advisory mandates. Strategas has been ranked the #1 Macro-Only Sell-Side firm by Extel for nine consecutive years, with Daniel Clifton ranked the #1 Independent research analyst on Wall Street by Institutional Investor and the Washington Policy team holding top ranks for 14 consecutive years. The platform is anchored by approximately 50+ research analysts, institutional salesmen, and sales traders across its two U.S. offices.

Name

Strategas Securities

Legal name

Strategas Securities, LLC

Website

https://strategasrp.com

Company type

Private

Founded year

2006

Operating status

Operating

Short description

Strategas Securities is an institutional broker-dealer (founded 2006) providing proprietary macro research, corporate advisory, and capital markets services to pension funds, hedge funds, mutual funds, and corporations, complemented by a $550M AUM affiliated asset management arm and the SAMT ETF.

Ownership category

akta.pro rank

Product category

Institutional Brokerage & Macro Research

NAICS

Investment Banking and Securities Intermediation (52315), Portfolio Management and Investment Advice (52394)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

akta.pro secondary industry

Corporate Finance Advisory (Strategic Finance, Capital Structure & Recaps) (FSAEAGAE)

Keywords

• Institutional brokerage services
• Macro investment research
• Policy research analysis
• ETF investment strategies
• Fixed income research

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Institutional Research Subscriptions: Strategas provides proprietary macro research to institutional investors through its broker-dealer, Strategas Securities, LLC. Research is provided for informational purposes to institutional clients who pay for access to the firm's research products and analyst insights.
2. Investment Advisory Services: Strategas Asset Management, LLC provides investment advisory services as an SEC Registered Investment Adviser. The firm manages $550 million in AUM through its affiliated macro-thematic investment management firm.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Strategas Securities is an institutional broker-dealer that provides proprietary macro investment research and capital markets services to institutional investors. Its research spans investment strategy, economics, Washington policy, technical research, fixed income, and ETFs, delivered via published reports, analyst access, and a Bespoke Research desk for customized projects. Affiliated Strategas Asset Management operates as an SEC-registered investment adviser managing approximately $550 million in AUM through macro-thematic portfolios and ETFs.

Product overview

Strategas Securities operates as a macro institutional research and advisory brokerage firm offering a comprehensive suite of products and services to institutional investors. The core offering consists of proprietary macro research spanning Investment Strategy, Economics, Technical Research, Fixed Income Strategy, and Policy Research. The firm also provides investment advisory services through its affiliated entity Strategas Asset Management, which manages approximately $550 million in assets and offers strategies including the Macro Thematic Opportunities ETF (SAMT) - an actively managed equity ETF that has outperformed the S&P 500. Research communication is delivered through multiple channels including daily written reports, podcasts such as 'What We Know', and client events and webinars. The firm also offers a Bespoke Research desk for customized research projects. Strategas is the market strategy arm of Baird and operates as an independent, wholly owned subsidiary since 2018.

Differentiator

Problem solved

Functional benefit

Products and services

• Macro Research Library Comprehensive macro research offering including Investment Strategy Reports, Economics Reports, Technical Research, Fixed Income Strategy, ETF Research, Policy Research, and Quantitative Research distributed to institutional investors.
• Bespoke Research Desk Customized research solutions and special projects for institutional clients beyond standard published reports, provided by Strategas analysts on a request basis.
• Strategas Asset Management SEC Registered Investment Adviser providing macro-thematic investment management with strategies including Blue Chip Opportunities, Dividend Growth, Earnings Momentum, and Policy Opportunities, managing $550 million in AUM.
• Strategas Macro Thematic Opportunities ETF (SAMT) An actively managed US equity ETF using a hedge-fund-like approach with macro thematic investment strategies, diversified granular holdings, and over 20% cash allocation.
• What We Know: Markets, Macro, & Miscellaneous Podcast A market podcast hosted by Pat Alwell, Ryan Grabinski, and Todd Sohn covering market analysis, macro trends, and investment themes for institutional and broader audiences.

Quantifiable outcome

• Top-ranked macro-only research firm for 9 consecutive years with six highly ranked individual analyst positions
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Raymond James: Diversified financial services firm with institutional research, sales/trading, and capital markets capabilities — comparable institutional brokerage footprint though with a much broader wealth management business.
• Jefferies: Full-service mid-market investment bank with deep macro and sector research, institutional sales and trading, and capital markets — a broader incumbent offering an integrated platform that partially overlaps Strategas's institutional brokerage footprint.
• Guggenheim Partners: Diversified global investment bank and asset manager with significant macro research, fixed income, and equities trading operations — a broader incumbent that competes for institutional wallet share and macro talent.
• B. Riley Financial: Diversified financial services firm with institutional research, sales and trading, and capital markets — comparable mid-size independent research and brokerage model to Strategas.
• Stifel Financial: Full-service broker-dealer and investment bank with institutional research, sales/trading, and capital markets — comparable mid-size institutional research and capital markets franchise.
• Piper Sandler: Mid-market investment bank with strong sector and macro research, institutional sales and trading, and capital markets — comparable institutional brokerage and corporate advisory capabilities to Strategas.
• Baird (Robert W. Baird & Co.): Strategas's parent company since 2018 — a global employee-owned financial services firm whose institutional equities, research, and investment banking platform provides the distribution umbrella and strategic context for Strategas's operations.

Direct peers

• Evercore ISI: Evercore's institutional research and equities-advisory arm is the closest direct peer — an independent, top-ranked macro and policy research franchise serving institutional clients, with corporate advisory and capital markets capabilities overlapping Strategas's offerings.
• Wolfe Research: Independent, employee-owned sell-side research boutique known for top-ranked fundamental and macro research, with institutional sales and trading — directly comparable to Strategas in business model, client base, and research-led value proposition.
• BCA Research: Independent global investment research firm specializing in macro and asset-allocation research for institutional investors — overlapping Strategas's macro research vertical, though BCA is primarily a subscription research provider rather than a broker-dealer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/StrategasRP
• YouTubeyoutube.com/%40Strategas
• LinkedInlinkedin.com/company/strategas

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Strategas Securities