This paper presents the results of laboratory testing and mathematical modeling which describe the performance of a stainless steel wedge anchorage system for Carbon Fiber Reinforced Polymer (CFRP) tendons under static loading conditions. It was found that as the presetting load increased, the displacement of the rod and sleeve decreased. A finite element model (FEM) consisting of three contact surfaces was applied to simulate the anchor components and successfully model the displacement of the rod. An analytical model based on thick cylinder analogy was used to verify the contact pressure on the CFRP rod determined by FEM. A parametric study was conducted using FEM to investigate the effects of varying the presetting load and coefficient of friction between the anchor components. It was found that the effect of the coefficient of friction at the wedge barrel surface was minimal in comparison to the effect of the presetting load and coefficient of friction between the rod and sleeve.