Disclosed are nutritional emulsions comprising fat, protein and carbohydrate. The emulsions include a V-complex or aqueous phase comprising a food grade surfactant complexed with a polydextrose having an average degree of polymerization of at least about 10; wherein the nutritional emulsion has a first viscosity at 20.degree. C. of less than about 300 cps and a second viscosity at a temperature of from 0.degree. C. to 8.degree. C. that is at least about 50 cps higher than said first viscosity. Also disclosed is a process for the making the nutritional emulsion. The nutritional emulsions develop a surprisingly thick, creamy texture when chilled prior to use.