Updated from 10:19 a.m. ESTMany investors prefer to invest in lower-priced stocks because they believe that the percentage gains can be much greater than with higher-priced stocks. It is interesting that George Soros, one of the top investors in the world, has a substantial part of his portfolio invested in stocks that sell for less than $15 a share. Stockpickr has compiled these names in a portfolio called the Low Price Stocks of George Soros. Soros, with an estimated net worth of $8.5 billion, is the founder of the Quantum Fund, which is considered one of the top-performing hedge funds. A $100,000 investment in his fund when he started it in 1969 would've been worth $150 million by 1994. One of the stocks that Soros owns is Level 3 Communications ( LVLT), which sells for less than $4 a share. This telecommunications switching-service company yesterday reported a narrowed fourth-quarter loss and increased sales, both of which beat analyst expectations. Level 3 is also owned by the Fidelity Select Telecommunications Fund, which invests at least 80% of its assets in communications services or communications equipment companies. Another low-priced stock of Soros' is Wind River Systems ( WIND), which sells for less than $9 a share. This provider of software optimization solutions just reported that it has reorganized into four product divisions in order to improve profitability. The stock has a forward price-to-earnings (P/E) ratio of 17 and a P/E-to-growth (PEG) ratio of 1.2. Wind River also shows up in an interesting portfolio called Takeovers and Short-Cover Plays. This portfolio also lists Countrywide ( CFC), which has a PEG of 1.2, and Goldman Sachs ( AKAM), with a 0.8 PEG. Marvell Technology ( MRVL) sells for less than $11 a share and is another shareholding of Soros. This semiconductor company has scheduled its earnings call for March 8. The stock has a forward P/E of 15 and a PEG of 1.2. Marvell shares also are owned by the Waddell & Reed Adv Science & Tech Fund, which is rated five stars by Morningstar. It also holds Alliance Data Systems ( ADS), which has a PEG of 0.7, Research In Motion ( RIMM), with a PEG of 1, and Cerner ( CERN), with a 0.9 PEG. To see the entire dozen under-$15 stocks Soros owns, check out the Low Price Stocks of George Soros at Stockpickr.com.