The Oakmark Fund has underperformed the S&P 500 for 3 years running, but Bill Nygren is still defending his strategy

This was the the third year in a row that the stock market beat Bill Nygren's mutual fund — but Oakmark will keep its investment strategy in 2020.

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.The S&P 500 keeps outperforming The Oakmark Fund, but portfolio manager Bill Nygren plans to stick with value-investing.

The Oakmark Fund underperformed the S&P 500 by 4 percentage points last year. That was the third year in a row that the stock market beat Bill Nygren's mutual fund -- but despite that, Oakmark will keep its investment strategy in 2020, Nygren said in a fourth-quarter note to investors.

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