Among the top holdings: Walter Industries (WLT), which showed up in one of the screens about two years ago as a homebuilder with a valuation cheaper than its peers, even though its main source of revenue was metallurgical, or coking, coal, a high-quality, low ash-content variety needed by steel producers. The shares have more than quadrupled in the past year, along with the price for metallurgical coal. While the stock trades in the mid-90s, Gottipalli expects it to rise further, with full-year '09 earnings projected to be $15 a share, aided in part by an increase in capacity and advance orders. Meantime, he hedges the risk by investing in thermal-coal producers, and balances his long positions with shorts.

Gottipalli's also impressed with Freeport McMoRan Copper & Gold (FCX), which is benefiting from China's unprecedented rise. Freeport, which purchased rival Phelps Dodge, is the world's largest nongovernment copper producer, a very attractive position as Asia constructs more homes; an average home needs 400 pounds of the metal, he says. Copper prices have quadrupled in recent years and Freeport shares have been on a tear, too -- retracing a bit when commodities fell this summer.

Symphony's researchers like the fact that it has $20 billion in cash and no debt, accounting for $22 of its share price. And cash could double by 2010, he says. The stock, at a recent price of 174, trades at 28.6 times next year's estimated earnings. Apple's core business is still computers, and Gottipalli sees room for major growth.

Other favorites: leading companies that make fertilizer from phosphates or potassium. Farmers are using more fertilizer to increase yield on crops for animal feed, produce or biofuels. He likes The Mosiac Company (MOS), whose shares have roughly tripled in the past year, and Intrepid Potash (IPI), whose shares are up about 46.2% from their spring initial-public-offering price of $32.

Other favorites: leading companies that make fertilizer from phosphates or potassium. Farmers are using more fertilizer to increase yield on crops for animal feed, produce or biofuels. He likes The Mosiac Company (MOS), whose shares have roughly tripled in the past year, and Intrepid Potash (IPI), whose shares are up about 46.2% from their spring initial-public-offering price of $32.

Gottipalli holds shares in independent oil companies with U.S. reserves that use new horizontal-drilling methods to extract oil and natural gas in once-inaccessible places. That way, there's no sovereign risk. Gottipalli hedges commodity risk by using exchange-traded funds to guard against further oil-price declines. Both Chesapeake Energy (CHK) and Devon Energy (DVN) appear on Symphony's 13F filing for the second quarter.

Gottipalli holds shares in independent oil companies with U.S. reserves that use new horizontal-drilling methods to extract oil and natural gas in once-inaccessible places. That way, there's no sovereign risk. Gottipalli hedges commodity risk by using exchange-traded funds to guard against further oil-price declines. Both Chesapeake Energy (CHK) and Devon Energy (DVN) appear on Symphony's 13F filing for the second quarter.

Visa (V) and MasterCard (MA) are among Symphony's holdings, according to filings. These companies make money by providing the cards to banks -- which bear the credit risk -- and reap the processing fees.