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Israel Englander was once enrolled in the MBA program at New York University. But instead of earning the degree - he dropped out of the program to work on Wall Street. In 1989 - he established Millennium Management with $35 million. The fund generated an average return of 17% per year after fees and its size grew to $8 billion by 2005. Now, Englander is one of the top paid fund managers. With a net worth of about $2.1 billion, he is the 651st richest person in the world, according to Forbes. His assets under management reached $13 billion this year.

Below we compiled a list of high dividend US stocks Englander is bullish about. All companies have at least $10 billion market cap and 4% dividend yield, and Englander’s Millennium Management invested more than $10 million in the stocks. The market data is sourced from Finviz.

Company Name

Ticker

Value

Activity

Dividend

FIRSTENERGY CORP

FE

35245

-13%

4.97%

VENTAS INC

VTR

28857

54%

4.35%

DUKE ENERGY

DUK

28079

-4%

4.75%

EXELON CORP

EXC

25810

31%

4.86%

P P L CORP

PPL

21417

428%

4.83%

PHILIP MORRIS INTL

PM

18197

8%

4.06%

PROLOGIS

PLD

18037

92%

4.11%

SOUTHERN CO

SO

15914

124%

4.23%

PAYCHEX INC

PAYX

10458

92%

4.36%

The biggest position in the 13F portfolio of Millennium Management on the list above is First Energy Corp (NYSE:FE), in which the fund had $35 million invested. FE has a dividend yield of 4.97%, also the highest among the stocks listed above. The stock lost 0.14% since the end of September, underperforming the 7.98% of SPY. FE has a market cap of $18.5B and a P/E ratio of 18.46. Jim Simons is also bullish about FE. At the end of September, his Renaissance Technologies reported to own $46 million of the stock.

During the third quarter, Englander boosted his stakes in PPL Corp (NYSE:PPL) by 428%. As of September 30, Millennium Management disclosed owning $21.4 million worth of the stock. PPL has a dividend yield of 4.83%. The stock returned 2.87% since the end of September. It has a market cap of $16.8B and a P/E ratio of 10.99. Steven Cohen’s SAC Capital Advisors had $76 million invested in PPL shares at the end of the third quarter.

One mega-cap high dividend stock in Englander’s portfolio is Philip Morris International Inc (NYSE:PM). His Millennium Management invested $18.2 million in PM at the end of the third quarter. Since then, PM returned 21.71%, beating the market by more than 13 percentage points. The $132 billion market cap stock has a dividend yield of 4.06% and a P/E ratio of 16.05. Tom Russo’s Gardner Russo & Gardner invested $500+ million in PM.

Englander is also bullish about Ventas Inc (NYSE:VTR), Duke Energy Corp (NYSE:DUK), Exelon Corp (NYSE:EXC), Prologis (NYSE:PLD), Southern Co (NYSE:SO), and Paychex Inc (NASDAQ:PAYX). During the past few years, the market has been hit by one crisis after another. To stimulate the economy, central banks all over the world have been using expansionary monetary policies. However, the economy performed much better than most people expected. We are concerned that the stimulus policies will lead to inflation, and we strongly recommend investors to purchase high dividend stocks instead of 10-year Treasuries that yield less than 2%. We believe that one of the best ways to pick dividend stocks is to focus on the dividend stock picks of successful hedge fund managers like Israel Englander.

Source: Billionaire Israel Englander's Hedge Fund Is Bullish On These High-Dividend Stocks