Jordan's portfolio normally includes no more than 25 to 40 names, which means that even the smallest positions can have a big impact on performance. About 35% of the fund's assets go into the top 10 holdings, which currently include oilfield-service specialist Schlumberger (SLB), Internet services provider Google (GOOG), drilling contractor Diamond Offshore (DO), power-systems supplier ABB (ABB), coal producer Peabody Energy (BTU) and entertainment behemoth Walt Disney (DIS).

Jordan's portfolio normally includes no more than 25 to 40 names, which means that even the smallest positions can have a big impact on performance. About 35% of the fund's assets go into the top 10 holdings, which currently include oilfield-service specialist Schlumberger (SLB), Internet services provider Google (GOOG), drilling contractor Diamond Offshore (DO), power-systems supplier ABB (ABB), coal producer Peabody Energy (BTU) and entertainment behemoth Walt Disney (DIS).

Jordan's portfolio normally includes no more than 25 to 40 names, which means that even the smallest positions can have a big impact on performance. About 35% of the fund's assets go into the top 10 holdings, which currently include oilfield-service specialist Schlumberger (SLB), Internet services provider Google (GOOG), drilling contractor Diamond Offshore (DO), power-systems supplier ABB (ABB), coal producer Peabody Energy (BTU) and entertainment behemoth Walt Disney (DIS).

At its recent price of 58, another energy play -- Diamond Offshore -- is attractive, too, in his view, trading at about six times trailing earnings. Jordan believes that the driller will earn less than the consensus forecast of $11.28 next year, versus $9.73 in 2008. But with no debt and a $7-a-share special dividend, "it's easily a 90-dollar stock."

Jordan's portfolio normally includes no more than 25 to 40 names, which means that even the smallest positions can have a big impact on performance. About 35% of the fund's assets go into the top 10 holdings, which currently include oilfield-service specialist Schlumberger (SLB), Internet services provider Google (GOOG), drilling contractor Diamond Offshore (DO), power-systems supplier ABB (ABB), coal producer Peabody Energy (BTU) and entertainment behemoth Walt Disney (DIS).

"As the global economy reaccelerates, demand for coal is going to reaccelerate again, particularly in Asia," benefitting Peabody, which owns a big Australian mine that ships coal to Asia. At a recent 23, the stock was far below its high of 88. And, Jordan asserts, it "can easily touch the 40s or 50s, looking out 12 to 18 months."

Jordan's portfolio normally includes no more than 25 to 40 names, which means that even the smallest positions can have a big impact on performance. About 35% of the fund's assets go into the top 10 holdings, which currently include oilfield-service specialist Schlumberger (SLB), Internet services provider Google (GOOG), drilling contractor Diamond Offshore (DO), power-systems supplier ABB (ABB), coal producer Peabody Energy (BTU) and entertainment behemoth Walt Disney (DIS).

Bets on energy and commodities paid off handsomely in 2007 and 2008's first half, as oil rose 50% from January to June 2008 before peaking at $147 a barrel in July. That, plus strong demand for minerals and metals ran up the quotes of holdings like Peabody, Schlumberger, Transocean (RIG), U.S. Steel (X) and Nucor (NUE), generating a 12% return in the second quarter.