Fiduciary Management is Optimistic in Flowserve Corp. (FLS), Here’s Why Fiduciary Management Inc., an investment management firm, published its “Small Cap Equity” first quarter 2021 investor letter – a copy of which can be downloaded here. A return of 12.6% was reported by the FMI Small Cap portfolios for the Q1 of 2021, compared to 12.70% for the Russell 2000 Index and 21.17% for the Russell 2000 Value Index over the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021. Fiduciary Management, in their Q1 2021 investor letter, mentioned Flowserve Corporation (NYSE: FLS) and shared their insights on the company. Flowserve Corporation is an Irving, Texas-based machinery industry company that currently has a $5.1 billion market capitalization. Since the beginning of the year, FLS delivered a 7.71% return, extending its 12-month gains to 71.82%. As of April 15, 2021, the stock closed at $39.69 per share.