Associated Capital (AC) 10-K 24 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 01, 2016	Jun. 30, 2015
Entity Information [Line Items]
Entity Registrant Name	Associated Capital Group, Inc.
Entity Central Index Key	1,642,122
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 0
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Class A [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		6,211,564
Class B [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		19,196,792

COMBINED CONSOLIDATED STATEMENT

COMBINED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Revenues
Investment advisory and incentive fees	$ 12,635	$ 9,779
Institutional research services	8,397	9,160
Other revenues	1,810	2,090
Total revenues	22,842	21,029
Expenses
Compensation	26,343	22,298
Stock based compensation	4,931	1,921
Management fee	(309)	(37)
Other operating expenses	6,189	6,771
Total expenses	37,154	30,953
Operating loss	(14,312)	(9,924)
Other income (expense)
Net gain from investments	8,276	6,502
Interest and dividend income	4,720	4,416
Interest expense	(1,260)	(1,376)
Total other income (expense), net	11,736	9,542
Loss before income taxes	(2,576)	(382)
Income tax provision (benefit)	(1,685)	775
Net loss	(891)	(1,157)
Net loss attributable to noncontrolling interests	(780)	(4,157)
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders	$ (111)	$ 3,000
Net income (loss) per share attributable to Associated Capital Group, Inc.'s shareholders:
Basic (in dollars per share)	$ 0	$ 0.12
Diluted (in dollars per share)	$ 0	$ 0.12
Weighted average shares outstanding:
Basic (in shares)	24,887	25,335
Diluted (in shares)	25,170	25,558
Actual shares outstanding (in shares)	25,440	25,855

COMBINED CONSOLIDATED STATEMEN3

COMBINED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
COMBINED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net loss		$ (891)	$ (1,157)
Other comprehensive loss, net of tax:
Net unrealized losses on securities available for sale	[1]	(11,035)	(2,426)
Comprehensive loss		(11,926)	(3,583)
Less: Comprehensive loss attributable to noncontrolling interests		780	4,157
Comprehensive income (loss) attributable to Associated Capital Group, Inc.		$ (11,146)	$ 574
[1]	Net of income tax benefit of ($6,434) and ($1,424) for 2015 and 2014, respectively.

COMBINED CONSOLIDATED STATEMEN4

COMBINED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Other comprehensive loss, net of tax:
Net unrealized losses on securities available for sale, income tax benefit	$ (6,434)	$ (1,424)

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$ 205,750	$ 285,530
Investments in securities (Including GBL stock with a market value of $136.4 million and $0 at December 31, 2015 and December 31, 2014, respectively)	333,624	220,595
Investments in affiliated registered investment companies	118,676	39,537
Investments in partnerships	105,051	107,646
Receivable from brokers	56,510	74,407
Investment advisory fees receivable	4,896	4,145
Receivable from affiliates	7,457	402
Goodwill	3,254	3,254
Other assets	1,530	19,178
Total assets	836,748	754,694
LIABILITIES, NONCONTROLLING INTERESTS AND EQUITY
Payable to brokers	50,648	43,397
Income taxes payable and deferred tax liabilities	5,669	16,363
Compensation payable	10,926	9,179
Securities sold, not yet purchased	9,623	10,595
Mandatorily redeemable noncontrolling interests	1,129	1,302
Payable to affiliates	0	20,733
Accrued expenses and other liabilities	1,466	1,864
Total liabilities	79,461	103,433
Redeemable noncontrolling interests	$ 5,738	$ 68,334
Commitments and contingencies (Note J)
Equity:
Preferred stock, $.001 par value; 10,000,000 shares authorized; none issued and outstanding	$ 0	$ 0
Additional paid-in capital	999,000	0
Parent Company Equity - pre Spin-off	0	573,749
Retained earnings	2,072	0
GBL 4% PIK Note	(250,000)	0
Accumulated comprehensive income (loss)	(1,857)	9,178
Treasury stock, at cost (1,500 and 0 shares, respectively)	(44)	0
Total Associated Capital Group, Inc. stockholders' equity	749,196	582,927
Noncontrolling interests	2,353	0
Total equity	751,549	582,927
Total liabilities and stockholders' equity	836,748	754,694
Class A [Member]
Equity:
Common stock	6	0
Class B [Member]
Equity:
Common stock	$ 19	$ 0

CONSOLIDATED STATEMENTS OF FIN6

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
ASSETS
GBL stock market value	$ 136.4	$ 0
Equity:
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock, shares (in shares)	1,500	0
Class A [Member]
Equity:
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	6,247,452	0
Common stock, shares outstanding (in shares)	6,242,952	0
Class B [Member]
Equity:
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	19,196,792	0
Common stock, shares outstanding (in shares)	19,196,792	0
GBL 4% PIK Note [Member]
LIABILITIES, NONCONTROLLING INTERESTS AND EQUITY
Debt instrument, interest rate	4.00%

COMBINED CONSOLIDATED STATEMEN7

COMBINED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Noncontrolling Interests [Member]	Common Stocks [Member]	Parent Company Equity pre Spin-off [Member]	Retained Earnings [Member]	Additional Paid-in Capital [Member]	GBL 4% PIK Note [Member]	Accumulated Comprehensive Income [Member]	Treasury Stock [Member]	Total	Redeemable Noncontrolling Interests [Member]
Balance at Dec. 31, 2013			$ 483,771				$ 11,604		$ 495,375	$ 6,751
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redemptions of noncontrolling interests			0				0		0	(6,353)
Contributions from redeemable noncontrolling interests			0				0		0	72,093
Net income (loss)			3,000				0		3,000	(4,157)
Net unrealized gains (losses) on securities available for sale, net of income tax benefit			0				(559)		(559)	0
Amounts reclassified from accumulated other comprehensive income, net of income tax benefit			0				(1,867)		(1,867)	0
Stock based compensation expense			1,921				0		1,921	0
Net transfer from GBL			85,057				0		85,057	0
Balance at Dec. 31, 2014	$ 0	$ 0	573,749	$ 0	$ 0	$ 0	9,178	$ 0	582,927	68,334
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Recapitalization	0	25	(522,758)	0	522,733	0	0	0	0	0
Redemptions of noncontrolling interests	0	0	0	0	0	0	0	0	0	(901)
Contributions from redeemable noncontrolling interests	0	0	0	0	0	0	0	0	0	1,036
Consolidation of a consolidated feeder fund and a partnership	0	0	0	0	0	0	0	0	0	996
Deconsolidationof an offshore fund	0	0	0	0	0	0	0	0	0	(63,256)
Net income (loss)	(309)	0	0	(111)	0	0	0	0	(420)	(471)
Net unrealized gains (losses) on securities available for sale, net of income tax benefit	0	0	0	0	0	0	(11,157)	0	(11,157)	0
Amounts reclassified from accumulated other comprehensive income, net of income tax benefit	0	0	0	0	0	0	122	0	122	0
Stock based compensation expense	0	0	0	0	4,931	0	0	0	4,931	0
Issuance of GBL 4% PIK Note	0	0	0	0	250,000	(250,000)	0	0	0	0
Net transfer from GBL	2,662	0	(50,991)	2,183	221,336	0	0	0	175,190	0
Purchase of treasury stock	0	0	0	0	0	0	0	(44)	(44)	0
Balance at Dec. 31, 2015	$ 2,353	$ 25	$ 0	$ 2,072	$ 999,000	$ (250,000)	$ (1,857)	$ (44)	$ 751,549	$ 5,738

COMBINED CONSOLIDATED STATEMEN8

COMBINED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
COMBINED CONSOLIDATED STATEMENTS OF EQUITY [Abstract]
Net unrealized gains (losses) on securities available for sale, income tax	$ (6,503)	$ (328)
Amounts reclassed from accumulated other comprehensive income, income tax benefit	$ 69	$ (1,096)

COMBINED CONSOLIDATED STATEMEN9

COMBINED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Operating activities
Net income (loss)	$ (891)	$ (1,157)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in net gains from partnerships	(4,756)	(1,169)
Depreciation and amortization	13	14
Stock based compensation expense	4,931	1,921
Deferred income taxes	(6,450)	(5,039)
Other-than-temporary loss on available for sale securities	216	69
Donated securities	73	56
Gains on sales of available for sale securities	(25)	(2,978)
(Increase) decrease in assets:
Investments in trading securities	(71,552)	(28,328)
Investments in partnerships:
Contributions to partnerships	(15,169)	(20,998)
Distributions from partnerships	22,857	10,510
Receivable from affiliates	(7,055)	0
Receivable from brokers	(30,008)	(25,557)
Investment advisory fees receivable	(949)	1,106
Other assets	17,568	(15,977)
Increase (decrease) in liabilities:
Payable to affiliates	(4,733)	1,386
Payable to brokers	44,516	33,396
Income taxes payable and deferred tax liabilities	2,191	362
Compensation payable	1,747	(5,278)
Mandatorily redeemable noncontrolling interests	(172)	(53)
Accrued expenses and other liabilities	298	(928)
Total adjustments	(46,459)	(57,485)
Net cash provided by (used in) operating activities	(47,350)	(58,642)
Investing activities
Purchases of available for sale securities	(43,271)	(1,428)
Proceeds from sales of available for sale securities	1,013	4,748
Return of capital on available for sale securities	524	519
Net cash provided by investing activities	(41,734)	3,839
Financing activities
Contributions from redeemable noncontrolling interests	1,036	72,093
Redemptions of redeemable noncontrolling interests	(901)	(6,353)
Repayment of demand loan with GBL	(16,000)	(10,000)
Net transfer (to) / from GBL	25,190	85,057
Purchase of treasury stock	(44)	0
Net cash provided by (used in) financing activities	9,281	140,797
Net increase (decrease) in cash and cash equivalents	(79,803)	85,994
Cash and cash equivalents at beginning of period	285,530	199,536
Increase in cash from consolidation	10	0
Increase in cash from deconsolidation	13	0
Cash and cash equivalents at end of period	205,750	285,530
Supplemental disclosures of cash flow information:
Cash paid for interest	1,428	981
Cash paid for taxes	$ 2	$ 2

COMBINED CONSOLIDATED STATEME10

COMBINED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands, shares in Millions	Nov. 30, 2015USD ($)	Nov. 28, 2015USD ($)shares	Apr. 01, 2015USD ($)Fund	Jan. 01, 2015USD ($)
Non-cash activity:
Increase in cash and cash equivalent from deconsolidation				$ 13
Decrease in net assets from deconsolidation				(63,280)
Decrease in redeemable noncontrolling interests from deconsolidation				$ (63,267)
Increase in cash and cash equivalent from consolidation			$ 10
Increase in net assets from consolidation			986
Increase in redeemable noncontrolling interests from consolidation			996
Proprietary capital used in funding new partnership			1,000
Third party capital used in funding new partnership			$ 0
Offshore Funds [Member]
Non-cash activity:
Number of funds consolidated | Fund			1
CFFs [Member]
Non-cash activity:
Number of funds consolidated | Fund			1
GBL 4% PIK Note [Member]
Non-cash activity:
Debt instrument, face amount	$ 250,000
Debt instrument, term	5 years
Debt instrument, interest rate	4.00%
GBL [Member]
Non-cash activity:
Shares issued in exchange for debt (in shares) | shares		4.4
GBL [Member] | GAMCO Note Payable [Member]
Non-cash activity:
Debt instrument, face amount		$ 150,000
Debt instrument, term		5 years
Debt instrument, interest rate		4.00%

Organization and Spin-off Trans

Organization and Spin-off Transaction	12 Months Ended
	Dec. 31, 2015
Organization and Spin-off Transaction [Abstract]
Organization and Spin-off Transaction	ASSOCIATED CAPITAL GROUP, INC. AND SUBSIDIARIES NOTES TO COMBINED CONSOLIDATED FINANCIAL STATEMENTS As of and for the years ended December 31, 2015 and 2014 A. Organization and Spin-off Transaction Unless we have indicated otherwise, or the context otherwise requires, references in this report to "Associated Capital Group, Inc.," "AC Group," "the Company," "AC," "we," "us" and "our" or similar terms are to Associated Capital Group, Inc., its predecessors and its subsidiaries. The Spin-off and Related Transactions We are a newly formed Delaware corporation organized to be the parent operating company for the Spin-off of GAMCO Investors, Inc. ("GAMCO's") alternative investment management business, institutional research services operations and certain cash and other assets. On November 30, 2015, GAMCO distributed all the outstanding shares of each class of common stock of AC Group on a pro rata one-for-one basis to the holders of each class of GAMCO's common stock. Prior to the distribution, GAMCO contributed the 93.9% interest it held in Gabelli Securities, Inc. ("GSI") and certain cash and other assets to AC Group. GSI is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940, as amended. GSI and its wholly owned subsidiary, Gabelli & Partners, LLC ("Gabelli & Partners"), collectively serve as general partners, co-general partners, or investment managers to investment funds including limited partnerships and offshore companies (collectively, "Investment Partnerships"), and separate accounts. We primarily manage assets in equity event-driven value strategies, across a range of risk and event arbitrage portfolios. The business earns fees from its advisory assets, and income (loss) from trading and investment portfolio activities. The advisory fees include management and incentive fees. Management fees are largely based on a percentage of the portfolios' levels of assets under management. Incentive fees are based on the percentage of profits derived from the investment performance delivered to clients' invested assets. We operate our institutional research services operations through G.research, LLC ("G.research"), a wholly owned subsidiary of GSI. G.research is a broker-dealer registered under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Through G.research, we provide institutional research services as well as act as an underwriter. G.research is regulated by the Financial Industry Regulatory Authority ("FINRA"). G.research's revenues are derived primarily from institutional research services. In addition, the following transactions were also undertaken in connection with the Spin-off: GAMCO issued a promissory note (the "GAMCO Note") to AC Group in the original principal amount of $250.0 million used to partially capitalize the Company in connection with the Spin-off. The GAMCO Note bears interest at 4.0% per annum and has a maturity date of November 30, 2020 with respect to the original principal amount of the GAMCO Note. Interest on the GAMCO Note will accrue from the most recent date for which interest has been paid, or if no interest has been paid, from the effective date of the GAMCO Note; provided, however, that at the election of GAMCO, payment of interest on the GAMCO Note may, in lieu of being paid in cash, be paid, in whole or in part, in kind on the then-outstanding principal amount (a "PIK Amount"). GAMCO will repay the original principal amount of the GAMCO Note to AC Group, in cash, in five equal annual installments of $50 million on each interest payment date up to and including the maturity date and will repay all PIK Amounts added to the outstanding principal amount of the GAMCO Note, in cash, on the fifth anniversary of the date on which each such PIK Amount was added to the outstanding principal amount of the GAMCO Note. In no event may any interest be paid in kind subsequent to November 30, 2019. GAMCO may prepay the GAMCO Note prior to maturity without penalty. In addition, AC Group, through its majority-owned GSI subsidiary, owns 4,393,055 shares of GAMCO Class A common stock. The sale was made from GAMCO to GSI in advance of the Spin-off. GSI paid the purchase price by issuing a note to GAMCO in the principal amount of $150 million (the "GSI Note"). In connection with the Spin-off, AC Group received the GSI Note from GAMCO and GSI became a majority-owned subsidiary of AC Group. Consolidated Financial Statements The Company's statement of financial condition at December 31, 2014, and the Company's combined consolidated statements of income for the eleven months ended November 30, 2015 and year ended December 31, 2014 were derived from the combined financial statements and accounting records of GAMCO and are presented as carve-out financial statements as the Company was not a standalone public company prior to the Spin-off. For the periods prior to the spin-off of the Company from GAMCO, the combined consolidated financial statements include allocations from GAMCO. These allocations may not be reflective of the actual level of assets, liabilities, income or costs which would have been incurred had the Company operated as a separate legal entity apart from GAMCO. The Company's consolidated statement of financial condition at December 31, 2015, and the Company's consolidated statement of income for the one month ended December 31, 2015 are presented based on our actual results as a stand-alone public company subsequent to our Spin-off. References within these Notes to the consolidated statement of financial condition as of December 31, 2015 and the combined consolidated statement of financial condition as of December 31, 2014 shall hereinafter be referred to as the consolidated statements of financial condition. All intercompany transactions and balances have been eliminated. Subsidiaries are fully consolidated from the date the Company obtains control and continue to be consolidated until the date that such control ceases. The Company's principal market is in the United States. Certain employees of GAMCO own 1.9% of GSI, and the remaining 4.2% of GSI is owned by individual investors unrelated to GAMCO and AC Group.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Significant Accounting Policies [Abstract]
Significant Accounting Policies	B. Significant Accounting Policies Basis of Presentation Use of Estimates The preparation of the combined consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash equivalents primarily consist of an affiliated money market mutual fund which is highly liquid. U.S. Treasury Bills and Notes with maturities of three months or less at the time of purchase are also considered cash equivalents. Investments in Securities Investments in securities are accounted for as either "trading securities" or "available for sale" and are stated at fair value. Management determines the appropriate classification of debt and equity securities at the time of purchase and reevaluates such designations as of each balance sheet date. U.S. Treasury Bills and Notes with maturities of greater than three months at the time of purchase are considered investments in securities. Securities that are not readily marketable are stated at their estimated fair values in accordance with GAAP. A substantial portion of investments in securities are held for resale in anticipation of short-term market movements and therefore are classified as trading securities. Trading securities are stated at fair value, with any unrealized gains or losses reported in current period earnings in net gain from investments on the combined consolidated statements of income. Available for sale ("AFS") investments are stated at fair value, with any unrealized gains or losses, net of taxes, reported as a component of other comprehensive loss on the combined consolidated statements of comprehensive loss except for losses deemed to be other than temporary which are recorded as realized losses on the combined consolidated statements of income. Securities transactions and any related gains and losses are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded on the specific identified cost basis and are included in net gain from investments on the combined consolidated statements of income. AFS securities are evaluated for other than temporary impairments each reporting period, and any impairment charges are recorded in net gain from investments on the combined consolidated statements of income. Management reviews all AFS securities whose cost exceeds their fair value to determine if the impairment is other than temporary. Management uses qualitative factors such as diversification of the investment, the intent to hold the investment, the amount of time that the investment has been impaired and the severity of the decline in determining whether the impairment is other than temporary. Securities sold, not yet purchased are recorded on the trade date, and are stated at fair value and represent obligations of the Company to purchase the securities at prevailing market prices. Therefore, the future satisfaction of such obligations may be for an amount greater or less than the amounts recorded on the consolidated statements of financial condition. The ultimate gains or losses recognized are dependent upon the prices at which these securities are purchased to settle the obligations under the sales commitments. Realized gains and losses from covers of securities sold, not yet purchased transactions are included in net gain/(loss) from investments on the combined consolidated statements of income. Unrealized gains and losses on securities sold, not yet purchased are reported in current period earnings in net gain from investments on the combined consolidated statements of income. Fair Value of Financial Instruments All of the instruments within investments in securities are measured at fair value. Certain investments in partnerships are also measured at fair value. The Company's assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy in accordance with the Financial Accounting Standards Board's ("FASB") guidance on fair value measurement. The levels of the fair value hierarchy and their applicability to the Company are described below: ● Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities at the reporting date. Level 1 asset includes cash equivalents, government obligations, open-end mutual funds, closed-end funds and equities. ● Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities that are not active and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly-quoted intervals. Assets that generally are included in this category may include certain limited partnership interests in private funds and over the counter derivatives that have inputs to the valuations that can generally be corroborated by observable market data. ● Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Assets included in this category generally include equities that trade infrequently and direct private equity investments held within consolidated partnerships. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Investments are transferred into or out of any level at their beginning period values. The availability of observable inputs can vary from instrument to instrument and is affected by a wide variety of factors, including, for example, the type of instrument, whether the instrument is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized as Level 3. The valuation process and policies reside with the financial reporting and accounting group which reports to the Chief Financial Officer of the Company. The Company uses the "market approach" valuation technique to value investments in Level 3 investments. The Company's valuation of the Level 3 investments has been based upon either i) the recent sale prices of the issuer's equity securities or ii) the net assets, book value or cost basis of the issuer when there are no recent sales prices available. In the absence of a closing price, an average of the bid and ask price is used. Bid prices reflect the highest price that the market is willing to pay for an asset. Ask prices represent the lowest price that The market is willing to accept for an asset. Cash equivalents Investments in securities Investments in Partnerships —T he Company's investments include limited partner investments in consolidated feeder funds. The Company considers the net asset value of the master funds held by the consolidated feeder fund to be the best estimate of fair value. Investments in private funds that are redeemable at the measurement date or within the near term are categorized in Level 2 of the fair value hierarchy. We may redeem our investments in these funds monthly with 30 days' notice. Otherwise, funds are categorized in Level 3 of the fair value hierarchy. Receivables from Affiliates and Payables to Affiliates Receivables from affiliates consist primarily of incentive fees/allocation and advisory fees due from certain affiliated partnerships. Payables to affiliates primarily consist of loans payable to GAMCO. See Note G. Receivables from and Payables to Brokers Receivables from and payables to brokers consist of amounts arising from the purchases and sales of securities as well as cash amounts held in anticipation of investment. Consolidation In accordance with the consolidation assessment models set forth in Accounting Standards Codification ("Codification") 810-10 and 810-20, the Company consolidates all investments in partnerships and affiliates in which the Company has a controlling interest or is deemed to be the primary beneficiary. In order to make this determination, an analysis is performed to determine if the entity is a variable interest entity ("VIE") or a voting interest entity ("VOE"). If the entity is a VIE, further analysis, as discussed below, is performed to determine if the Company is the primary beneficiary of the entity. If the entity is not a VIE, the Company will apply the VOE model as discussed below. Variable Interest Entities A VIE is an entity in which either (a) the equity investment at risk is not sufficient to permit the entity to finance its own activities without additional financial support; (b) the equity investors do not have the ability to make decisions about the entities' activities or obligation to absorb the expected losses of the entity or the right to receive the expected residual returns of the entity or (c) the voting rights are not proportional to their obligations to absorb the expected losses of the entity or their rights to receive the expected residual returns of the entity. The Company evaluates whether entities in which it has an interest are VIEs and whether the Company is the primary beneficiary of any VIEs identified in its analysis. The Company is the primary beneficiary if it absorbs a majority of the VIE's expected losses, expected residual returns, or both. If the Company is the primary beneficiary of a VIE, it consolidates that entity. If the Company is not the primary beneficiary, it accounts for its investment under the equity method. In June 2009, the FASB amended the guidance on VIEs when it issued ASU 2009-17. This guidance requires that if a decision maker has a variable interest in a VIE, the decision maker is not solely acting in a fiduciary capacity and would be required to consolidate the VIE if it has both the power to direct the most significant activities of the VIE and economic exposure that could potentially be significant to the VIE. The Company is general partner or co-general partner of various sponsored partnerships and the investment manager of various sponsored offshore funds whose underlying assets consist primarily of marketable securities (the "affiliated entities"). If the Company were to apply such guidance, it would be required to consolidate most of its affiliated entities. In February 2010, the FASB issued ASU 2010-10, which indefinitely deferred the effective date of the amendments to Codification 810-10 made by ASU 2009-17, for a reporting entity's interest in certain entities. Currently, interests in entities that qualify for the deferral are evaluated by applying the VIE model in Codification 810-10 (i.e., before the amendments by ASU 2009-17), while interests in entities that do not qualify for the deferral must be evaluated under the amendments in ASU 2009-17. Because all of the entities with which the Company is involved which would have been subject to the guidance in ASU 2009-17 were determined to qualify for the FASB's deferral of such guidance, the Company applies the guidance for VIEs that existed prior to the issuance of ASU 2009-17. Voting Interest Entities If the entity is not considered a VIE, it is treated as a VOE, and the Company applies the guidance in Codification 810-20 in determining whether the entity should be consolidated. Under Codification 810-20, the general partner or investment manager is deemed to control the entity and therefore must consolidate it unless the unaffiliated limited partners or shareholders (a) have the ability to remove the general partner or investment manager, without cause; (b) have the ability to dissolve the entity or (c) have substantive participating rights. If the unaffiliated limited partners or shareholders possess any of the foregoing rights, then the Company does not consolidate the entity, and either the equity or cost method of accounting is applied. If the unaffiliated limited partners or shareholders do not have any such rights, the Company consolidates the entity. Equity Method Investments Substantially all of the Company's equity method investees are entities that record their underlying investments at fair value. Therefore, under the equity method of accounting, the Company's share of the investee's underlying net income predominantly represents fair value adjustments in the investments held by the equity method investees. The Company's share of the investee's underlying net income or loss is based upon the most currently available information and is recorded as "Net gain from investments" on the combined consolidated statements of income. Capital contributions are recorded as an increase in investments when paid, while withdrawals and distributions are recorded as reductions of the investments when received. Depending on the terms of the investment, the Company may be restricted as to the timing and amounts of withdrawals. See Note D. Investments in Partnerships, Offshore Funds and Variable Interest Entities for more detail as to the number and types of entities consolidated as well as the impact on the consolidated statements of financial condition and combined consolidated statements of income. Investments in Partnerships and Affiliates The Company is general partner or co-general partner of various affiliated entities. We also have investments in unaffiliated partnerships, offshore funds and other entities ("unaffiliated entities"). Given that we are not a general partner or investment manager in any unaffiliated entities, we do not earn any management or incentive fees/allocation and we do not have a controlling financial interest, we do not currently consolidate any unaffiliated entities. Our balance sheet caption "Investments in partnerships" includes those investments, in both affiliated and unaffiliated entities, which the Company accounts for under the equity method of accounting and certain investments in consolidated feeder funds ("CFFs") that the Company accounts for at fair value, as described below. For CFFs that own 100% of their offshore master funds, the Company retains the CFF's specialized investment company accounting (i.e., the CFFs account for their investment in master funds at fair value). The Company records noncontrolling interests in consolidated entities for which the Company's ownership is less than 100%. Refer to Noncontrolling Interests section within Note B for additional disclosures. Derivative Financial Instruments The Company recognizes all derivatives as either assets or liabilities measured at fair value and are included in either investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. From time to time, the Company will enter into hedging transactions to manage its exposure to foreign currencies and equity prices related to its proprietary investments. During 2015 and 2014, the Company had derivative transactions which resulted in net gains of $264,000 and $729,000, respectively. At December 31, 2015 and 2014, we held derivative contracts on 0.3 million equity shares and 3.8 million equity shares, respectively, and the net fair value was $149,000 and $262,000, respectively, and is included as investments in securities on the consolidated statements of financial condition. These transactions are not designated as hedges for accounting purposes, and changes in fair values of these derivatives are included in net gain from investments on the combined consolidated statements of income and included in investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. Securities Transactions The Company also generates investment gains or losses from its proprietary trading activities which are included in net gain from investments on the combined consolidated statements of income. Management determines the appropriate classification of debt and equity securities at the time of purchase and reevaluates such designation as of the date of each consolidated statement of financial condition. Investments in United States Treasury Bills and Notes with maturities of greater than three months at the time of purchase are classified as investments in securities, and those with maturities of three months or less at the time of purchase are classified as cash equivalents. The portion of investments in securities held for resale in anticipation of short-term market movements are classified as trading securities. Trading securities are stated at fair value, with any unrealized gains or losses reported in current period earnings. AFS investments are stated at fair value, with any unrealized gains or losses, net of taxes, reported as a component of equity except for losses deemed to be other than temporary ("OTT") which are recorded as realized losses in the combined consolidated statements of income. Major Revenue-Generating Services and Revenue Recognition Advisory fees from investment partnerships and offshore funds are computed either monthly or quarterly, and amounts receivable are included in receivables from affiliates on the consolidated statements of financial condition. Revenues from investment partnerships and offshore funds also generally include either an incentive fee/allocation on the absolute gain in a portfolio or a fee of 20% of the economic profit as defined in the partnership agreement and is included in investment advisory and incentive fees on the combined consolidated statements of income. The incentive allocation or fee is recognized at the end of the measurement period, which is annually, and amounts receivable are included in either receivables from affiliates or investment advisory fees receivable on the consolidated statements of financial condition. Institutional research services includes commission revenues, sales manager fees and underwriting fees and amounts receivable are included in receivables from brokers and clearing organizations on the combined consolidated statements of financial condition. Related clearing charges are recorded on a trade-date basis, and are included in other operating expenses on the combined consolidated statements of income. Underwriting fees include underwriting revenues and syndicate profits and are accrued as earned. Underwriting fees include gains, losses, selling concessions and fees, net of syndicate expenses, arising from securities offerings in which the Company acts as underwriter or agent. Effective January 1, 2014, the Company, through G.research, entered into agreements with two affiliates, GAMCO Asset Management Inc. and Gabelli Funds, LLC, to provide each affiliate with the same types of research services that it provides to its other clients. The agreements call for the two affiliates to pay a research services fee. The annual fee amounts are determined by negotiations between the Company and each entity that utilizes the Company's research. Depreciation Fixed assets are recorded at cost and depreciated using the straight-line method over their estimated useful lives of four to seven years. For the years ended December 31, 2015 and 2014, depreciation was $ and $, respectively, on fixed assets with a cost of $57,000 and $61,000, respectively, and a net book value of $19,000 and $30,000, respectively. We estimate that depreciation will be approximately $ annually over the next years. As of December 31, 2015 and 2014, the Company wrote off assets in the amount of $2,000 and $16,000, respectively, that were fully depreciated and had been retired. Allocated Expenses The Company is charged or incurs certain overhead expenses that are paid by, or paid on our behalf by other affiliates and are included in other operating expenses on the combined consolidated statements of income. These overhead expenses primarily relate to centralized functions including finance and accounting, legal, compliance, treasury, tax, internal audit, information technology, human resources and risk management functions. These overhead expenses are allocated to the Company by other affiliates or allocated by the Company to other affiliates as the expenses are incurred, based upon direct usage when identifiable, with the remainder allocated based on revenue, headcount, space or other methodologies periodically reviewed by the management of the Company and the affiliates. In addition, the Company serves as paymaster under a compensation payment sharing agreement. This includes compensation expense and related payroll taxes and benefits which are fully paid by the Company for professional staff performing duties related to the Company and affiliates. These compensation expenses are included in compensation on the combined consolidated statements of income. All of the allocations and estimates in these financial statements are based on assumptions that management of AC believes are reasonable. However, these allocations may not be indicative of the actual expenses we would have incurred or may incur in the future. Management Fee Management fee expense in the amount of 10% of the aggregate pre-tax profits, before consideration of this fee and before consideration of the various consolidated feeder funds and partnerships, is paid to the Chairman or his designated assignees in accordance with his employment agreement. Stock Based Compensation The Company maintains one Plan approved by the shareholders, which is designed to provide incentives which will attract and retain individual's key to the success of AC through direct or indirect ownership of our common stock. Benefits under the Plan may be granted in any one or a combination of stock options, stock appreciation rights, restricted stock, restricted stock units, stock awards, dividend equivalents and other stock or cash based awards. A maximum of 0.9 million shares of Class A Stock have been reserved for issuance under the Plans by a committee of the Board of Directors responsible for administering the Plans ("Compensation Committee"). Under the Plan, the committee may grant RSAs and either incentive or nonqualified stock options with a term not to exceed ten years from the grant date and at an exercise price that the committee may determine. On November 30, 2015, in connection with the Spin-off of the Company from GAMCO, the Company issued 554,100 AC RSA shares to GAMCO employees (including GAMCO employees who became AC employees) who held 554,100 GAMCO RSA shares at that date. The purpose of the issuance was to ensure that any employee who had GAMCO RSA's were granted an equal number of AC RSA's so that the total value of the RSA's post-spin-off was equivalent to the total value pre-spin-off. In accordance with GAAP, we have allocated the stock compensation costs between GAMCO and AC based upon each employee's individual allocation of their responsibilities between GAMCO and AC. As of December 31, 2015, there were 553,100 AC RSA shares outstanding. All grants of the RSA shares were recommended by the Company's Chairman, who did not receive a RSA, and approved by the Compensation Committee. This expense, net of estimated forfeitures, is recognized over the vesting period for these awards which is either (1) 30% over three years from the date of grant and 70% over five years from the date of grant or (2) 30% over three years from the date of grant and 10% each year over years four through ten from the date of grant. During the vesting period, dividends to RSA holders are held for them until the RSA vesting dates and are forfeited if the grantee is no longer employed by the Company on the vesting dates. Dividends declared on these RSAs, less estimated forfeitures, are charged to retained earnings on the declaration date. Goodwill Goodwill is initially measured as the excess of the cost of the acquired business over the sum of the fair value assigned to assets acquired less the liabilities assumed. Goodwill is tested for impairment at least annually on November 30th and whenever certain triggering events are met. In assessing the recoverability of goodwill for the subsidiary's annual impairment test on November 30, 2015 and 2014, we performed a qualitative assessment of whether it was more likely than not that an impairment has occurred and concluded that a quantitative analysis was not required. As part of this assessment, it was also determined that there was no risk of failing the quantitative impairment testing step that compares the subsidiary fair value to its carrying value. No impairment was recorded during 2015. Income Taxes For purposes of the preparation of the combined consolidated financial statements, the Company accounts for income taxes as if it followed the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the combined consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income tax expense/benefit in the period that includes the enactment date of the change in tax rate. The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not be realized. A valuation allowance would be recorded to reduce the carrying value of deferred tax assets to the amount that is more likely than not to be realized. In making such a determination of whether a valuation allowance is necessary, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. In the event the Company were to determine that the Company would be able to realize the Company's deferred income tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions in accordance with Codification Topic 740 on the basis of a two-step process whereby (1) the Company determines whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is greater than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes the accrual of interest on uncertain tax positions and penalties in income tax provision on the combined consolidated statements of income. Accrued interest and penalties on uncertain tax positions are included within accrued expenses and other liabilities on the consolidated statements of financial condition. Noncontrolling Interests Noncontrolling interests that are mandatorily redeemable upon a certain date or event occurring are classified as liabilities and relate to certain stockholders of GSI who are employed by GAMCO, or its affiliates, who are required to sell their shares back to GSI at book value once they cease being employed by GAMCO, or its affiliates. Noncontrolling interests in investment partnerships and offshore funds that are redeemable at the option of the holder are classified as redeemable noncontrolling interests in the mezzanine section of the combined consolidated statements of financial condition between liabilities and equity. For the years ended December 31, 2015, and 2014, net income attributable to noncontrolling interests on the combined consolidated statements of income represents income attributable to certain limited partners of investment partnerships and offshore funds that are consolidated. The income attributable to the mandatorily redeemable noncontrolling interests classified as liabilities is included in other operating expenses on the combined consolidated statements of income. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and receivable from brokers. The Company maintains cash and cash equivalents primarily in the Gabelli U.S. Treasury Money Market Fund, which invests fully in instruments issued by the U.S. Government, and has receivables from brokers with various brokers and financial institutions, where these balances can exceed the federally insured limit. The concentration of credit risk with respect to advisory fees and incentive fees/allocation, which are included in receivables from affiliates on the combined consolidated statements of financial condition, is generally limited due to the short payment terms extended to clients by the Company. All investments in securities are held at third party brokers or custodians. Net transfer to /from Parent Net transfer to/from Parent in the combined consolidated financial statements represents the net effect of transactions with and allocations from GAMCO prior to the Spin-off. Business Segment The Company operates in one business segment, the investment advisory and asset management business. The Company conducts its investment advisory business principally through GSI. Recent Accounting Developments In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers," which supersedes the revenue recognition requirements in the Accounting Standards Codification ("Codification") Topic 605, Revenue Recognition, and most industry-specific guidance throughout the industry topics of the Codification. The core principle of the new ASU No. 2014-09 is for companies to recognize revenue from the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard provides a five-step approach to be applied to all contracts with customers and also requires expanded disclosures about revenue recognition. The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods and is to be retrospectively applied. Early adoption is not permitted. The Company is currently evaluating this guidance and the impact it will have on its combined consolidated financial statements. In June 2014, the FASB issued an accounting update clarifying that entities should treat performance targets that could be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. Therefore, an entity would not record compensation expense (measured as of the grant date) for an award where transfer to the employee is contingent upon satisfaction of the performance target until it becomes probable that the performance target will be met. The guidance is effective for the Company beginning January 1, 2016. Early adoption is permitted. This guidance is not expected to have a material impact on the Company's combined consolidated financial statements. In February 2015, the FASB issued an accounting update amending the consolidation requirements under GAAP. This guidance is effective for the Company beginning January 1, 2016. The Company is currently evaluating this guidance and the impact it will have on its combined c

Investment in Securities

Investment in Securities	12 Months Ended
	Dec. 31, 2015
Investment in Securities [Abstract]
Investment in Securities	C. Investments in Securities Investments in securities at December 31, 2015 and 2014 consisted of the following: 2015 2014 Cost Fair Value Cost Fair Value (In thousands) Trading securities: Government obligations $ 99,897 $ 99,940 $ 18,994 $ 18,996 Common stocks 78,974 92,194 170,977 195,029 Mutual funds 2,578 3,216 2,432 3,498 Other investments 570 771 743 1,704 Total trading securities 182,019 196,121 193,146 219,227 Available for sale securities: Common stocks 150,000 136,360 - - Mutual funds 627 1,143 681 1,368 Total available for sale securities 150,627 137,503 681 1,368 Total investments in securities $ 332,646 $ 333,624 $ 193,827 $ 220,595 Securities sold, not yet purchased at December 31, 2015 and 2014 consisted of the following: 2015 2014 Cost Fair Value Cost Fair Value (In thousands) Trading securities: Common stocks $ 10,095 $ 9,537 $ 9,835 $ 9,960 Other investments 24 86 1 635 Total securities sold, not yet purchased $ 10,119 $ 9,623 $ 9,836 $ 10,595 Investments in affiliated registered investment companies at December 31, 2015 and 2014 consisted of the following: 2015 2014 Cost Fair Value Cost Fair Value (In thousands) Trading securities: Mutual funds $ 40,097 $ 43,133 $ 1 $ 1 Total trading securities 40,097 43,133 1 1 Available for sale securities: Closed-end funds 62,070 72,591 21,962 36,323 Mutual funds 1,846 2,952 1,898 3,213 Total available for sale securities 63,916 75,543 23,860 39,536 Total investments in affiliated registered investment companies $ 104,013 $ 118,676 $ 23,861 $ 39,537 The following table identifies all reclassifications out of accumulated other comprehensive income ("AOCI") and into net income/(loss) for the year ended December 31, 2015 and 2014 (in thousands): Amount Affected Line Item Reason for Reclassified in the Statements Reclassification from AOCI of Income from AOCI Twelve months ended December 31, 2015 2014 $ 25 $ 2,978 Net gain/(loss) from investments Realized gains on sale of AFS securities - 54 Other operating expenses Donation of AFS securities (216 ) (69 ) Net gain/(loss) from investments Other than temporary impairment of AFS securities (191 ) 2,963 Income/(loss) before income taxes 69 (1,096 ) Income tax provision/(benefit) $ (122 ) $ 1,867 Net income/(loss) The Company recognizes all equity derivatives as either assets or liabilities measured at fair value and includes them in either investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. From time to time, the Company and/or the partnerships and offshore funds that the Company consolidates will enter into hedging transactions to manage their exposure to foreign currencies and equity prices related to their proprietary investments. At December 31, 2015 and December 31, 2014 we held derivative contracts on 250,000 equity shares and 3.8 million equity shares, respectively, that are included in investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. We had two foreign exchange contracts and one foreign exchange contract outstanding at December 31, 2015 and December 31, 2014, respectively, that are included in receivable from brokers or payable to brokers on the consolidated statements of financial condition. Aside from one foreign exchange contract, these transactions are not designated as hedges for accounting purposes, and therefore changes in fair values of these derivatives are included in net gain/(loss) from investments on the combined consolidated statements of income. The one foreign exchange contract that is designated as a hedge was for a short of British Pounds to hedge the long investment that we have in our London Stock Exchange listed Gabelli Value Plus+ Trust Ltd. closed-end fund which is denominated in British Pounds. As the underlying investment that is being hedged is an available for sale security, the portion of the change in value of the closed-end fund that is currency related is recorded in net gain/(loss) from investments on the combined consolidated statements of income and not in combined consolidated accumulated comprehensive income. The following tables identify the fair values and gains and losses of all derivatives and foreign currency positions held by the Company (in thousands): Asset Derivatives Liability Derivatives Statement of Fair Value Statement of Fair Value Financial Condition December 31, December 31, Financial Condition December 31, December 31, Location 2015 2014 Location 2015 2014 Derivatives designated as hedging instruments under FASB ASC 815-20 Foreign exchange contracts Receivable from brokers $ - $ - Payable to brokers $ 37,584 $ - Sub total $ - $ - $ 37,584 $ - Derivatives not designated as hedging instruments under FASB ASC 815-20 Equity contracts Investments in Securities sold, securities $ 236 $ 896 not yet purchased $ 86 $ 635 Foreign exchange contracts Receivable from brokers - - Payable to brokers 5,017 5,470 Sub total $ 236 $ 896 $ 5,103 $ 6,105 Total derivatives $ 236 $ 896 $ 42,687 $ 6,105 Type of Derivative Income Statement Location Year ended December 31, 2015 2014 Foreign exchange contracts Net gain/(loss) from investments $ 2,456 $ 792 Equity contracts Net gain/(loss) from investments 264 729 Total $ 2,720 $ 1,521 The Company is a party to enforceable master netting arrangements for swaps entered into as part of the Company's investment strategy. They are typically not used as hedging instruments. These swaps, while settled on a net basis with the counterparties, major U.S. financial institutions, are shown gross in assets and liabilities on the consolidated statements of financial condition. The swaps have a firm contract end date and are closed out and settled when each contract expires. Gross Amounts Not Offset in the Statements of Financial Condition Gross Gross Amounts Net Amounts of Amounts of Offset in the Assets Presented Recognized Statements of in the Statements of Financial Cash Collateral Assets Financial Condition Financial Condition Instruments Received Net Amount Swaps: (In thousands) December 31, 2015 $ 177 $ - $ 177 $ (81 ) $ - $ 96 December 31, 2014 $ 896 $ - $ 896 $ (634 ) $ - $ 262 Gross Amounts Not Offset in the Statements of Financial Condition Gross Gross Amounts Net Amounts of Amounts of Offset in the Liabilities Presented Recognized Statements of in the Statements of Financial Cash Collateral Liabilities Financial Condition Financial Condition Instruments Pledged Net Amount Swaps: (In thousands) December 31, 2015 $ 81 $ - $ 81 $ (81 ) $ - $ - December 31, 2014 $ 634 $ - $ 634 $ (634 ) $ - $ - The following is a summary of the cost, gross unrealized gains, gross unrealized losses and fair value of AFS investments as of December 31, 2015 and 2014: December 31, 2015 Gross Gross Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Common stocks $ 150,000 $ - $ (13,640 ) $ 136,360 Closed-end Funds 62,070 11,299 (778 ) 72,591 Mutual funds 2,472 1,641 (18 ) 4,095 Total available for sale securities $ 214,542 $ 12,940 $ (14,436 ) $ 213,046 December 31, 2014 Gross Gross Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Closed-end Funds $ 21,962 $ 14,398 $ (37 ) $ 36,323 Mutual funds 2,579 2,030 (28 ) 4,581 Total available for sale securities $ 24,541 $ 16,428 $ (65 ) $ 40,904 Increases in unrealized losses, net of taxes, for AFS securities for the years ended December 31, 2015 and 2014 of $11.2 million and $0.6 million, respectively, have been included in other comprehensive income at December 31, 2015 and 2014, respectively. The amount reclassified from other comprehensive loss for the years ended December 31, 2015 and 2014 were gains of $0.1 million and losses of $1.9 million, respectively. Return of capital on AFS securities were $0.5 million and $0.5 million for the years ended December 31, 2015 and 2014, respectively. Proceeds from sales of investments available for sale were approximately $1.0 million and $4.7 million for the years ended December 31, 2015 and 2014, respectively. For the years ended December 31, 2015 and 2014, gross gains on the sale of investments available for sale amounted to $25,000 and $3.0 million, respectively, and were reclassed from other comprehensive loss into the combined consolidated statements of income. There were no losses on the sale of investments available for sale for the years ended December 31, 2015 and 2014. The basis on which the cost of a security sold is determined is specific identification. Accumulated other comprehensive loss on the combined consolidated statements of equity is primarily comprised of unrealized gains/losses, net of taxes, for AFS securities. The Company has an established accounting policy and methodology to determine other-than-temporary impairment. Under this policy, AFS securities are evaluated for other than temporary impairments and any impairment charges are recorded in net gain from investments on the combined consolidated statements of income. Management reviews all AFS securities whose cost exceeds their market value to determine if the impairment is other than temporary. Management uses qualitative factors such as diversification of the investment, the amount of time that the investment has been impaired, the intent to sell and the severity of the decline in determining whether the impairment is other than temporary. Investments classified as AFS that are in an unrealized loss position for which other-than-temporary impairment has not been recognized consisted of the following: December 31, 2015 December 31, 2014 Unrealized Unrealized Cost Losses Fair Value Cost Losses Fair Value (in thousands) Common Stocks $ 150,000 $ (13,640 ) $ 136,360 $ - $ - $ - Closed-end Funds 40,627 (778 ) 39,849 812 (37 ) 775 Mutual Funds 244 (18 ) 226 303 (28 ) 275 Total avalable for sale securities $ 190,871 $ (14,436 ) $ 176,435 $ 1,115 $ (65 ) $ 1,050 At December 31, 2014, there were four holdings in loss positions which were not deemed to be other-than-temporarily impaired due to the length of time that they had been in a loss position and because they passed scrutiny in our evaluation of issuer-specific and industry-specific considerations. In these specific instances, the investments at December 31, 2014 were mutual funds and closed-end funds with diversified holdings across multiple companies and across multiple industries. One holding was impaired for one month, one for three months and two for four months at December 31, 2014. The value of these holdings at December 31, 2014 was $1.1 million. For the years ended December 31, 2015 and 2014, there were $216,000 and $69,000 of losses, respectively, on AFS securities deemed to be other than temporary.

Investment in Partnerships, Off

Investment in Partnerships, Offshore Funds and Variable Interest Entities	12 Months Ended
	Dec. 31, 2015
Investment in Partnerships, Offshore Funds and Variable Interests [Abstract]
Investment in Partnerships, Offshore Funds and Variable Interest Entities	D. Investment in Partnerships, Offshore Funds and Variable Interest Entities The Company is general partner or co-general partner of various affiliated entities, in which the Company had investments totaling $89.3 million and $94.2 million at December 31, 2015 and 2014, respectively, whose underlying assets consist primarily of marketable securities (the "affiliated entities"). We also had investments in unaffiliated partnerships, offshore funds and other entities of $15.8 million and $13.4 million at December 31, 2015 and 2014, respectively (the "unaffiliated entities"). We evaluate each entity for the appropriate accounting treatment and disclosure. Certain of the affiliated entities, and none of the unaffiliated entities, are consolidated, as discussed in Note B. For those entities where consolidation is not deemed appropriate, we report them in our combined consolidate statements of financial condition under the caption "Investments in partnerships". The caption includes those investments, in both affiliated and unaffiliated entities, which the Company accounts for under the equity method of accounting, as well as certain investments that the feeder funds hold that are carried at fair value, as described in Note B. The Company reflects the equity in earnings of these equity method investees and the change in fair value of the consolidated feeder funds under the caption net gain from investments on the combined consolidated statements of income. The following table highlights the number of entities, including VOEs, that we consolidate as well as under which accounting guidance they are consolidated, including CFFs, which retain their specialized investment company accounting, and partnerships and offshore funds which we consolidate as described in Note B. Entities consolidated CFFs Partnerships Offshore Funds Total VIEs VOEs VIEs VOEs VIEs VOEs VIEs VOEs Entities consolidated at December 31, 2012 1 2 - 1 - 1 1 4 Additional consolidated entities - - - - - - - - Deconsolidated entities - - - - - - - - Entities consolidated at December 31, 2013 1 2 - 1 - 1 1 4 Additional consolidated entities - - - - - - - - Deconsolidated entities - - - - - - - - Entities consolidated at December 31, 2014 1 2 - 1 - 1 1 4 Additional consolidated entities - 1 - 1 1 - 1 2 Deconsolidated entities - (1 ) - - - (1 ) - (2 ) Entities consolidated at December 31, 2015 1 2 - 2 1 - 2 4 At and for the year ended December 31, 2015, the one CFF VIE is consolidated, as the Company has been determined to be the primary beneficiary because it has an equity interest and absorbs the majority of the expected losses and/or expected gains. At and for the year ended December 31, 2015, the one CFF VOE and one Partnership VOE are consolidated because the unaffiliated partners or shareholders lack substantive kick-out rights, and the Company, as either the general partner or investment manager, is deemed to have control. During the year ended December, 2015, it was determined that an additional Partnership VOE should be consolidated when the Partnership was created on April 1, 2015 without unaffiliated capital and an Offshore Fund VIE should be consolidated as the last unaffiliated investor withdrew during the second quarter. Additionally, an Offshore Fund VOE was deconsolidated as the Company's ownership percentage fell below 50%, a CFF VOE was deconsolidated when it was closed and a different CFF VOE was consolidated as the last unaffiliated investor withdrew on March 31, 2015. At and for the year ended December 31, 2014, one CFF VIE is consolidated, as the Company is the primary beneficiary because it has an equity interest and absorbs the majority of the expected losses and/or expected gains. At and for the year ended December 31, 2014, two CFF VOEs, and the one Partnership VOE are consolidated because the unaffiliated partners or stockholders lack substantive rights, and the Company, as either the general partner or investment manager, is deemed to have control. The following table breaks down the investments in partnerships line by accounting method, either fair value or equity method, and investment type (in thousands): December 31, 2015 Investment Type Affiliated Unaffiliated Consolidated Accounting method Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 13,953 $ - $ - $ - $ - $ 13,953 Equity Method - 39,552 35,746 7,911 7,889 91,098 Total $ 13,953 $ 39,552 $ 35,746 $ 7,911 $ 7,889 $ 105,051 December 31, 2014 Investment Type Affiliated Unaffiliated Consolidated Accounting method Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 23,815 $ - $ - $ - $ - $ 23,815 Equity Method - 34,382 36,033 6,552 6,864 83,831 Total $ 23,815 $ 34,382 $ 36,033 $ 6,552 $ 6,864 $ 107,646 The following table includes the net impact by line item on the consolidated statements of financial condition for each category of entity consolidated: December 31, 2015 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Assets Cash and cash equivalents $ 205,708 $ - $ 41 $ 1 $ 205,750 Investments in securities 444,368 - 7,849 83 452,300 Investments in partnerships 109,274 4,506 (8,729 ) - 105,051 Receivable from brokers 53,921 - 2,164 425 56,510 Investment advisory fees receivable 4,881 2 5 8 4,896 Other assets 12,614 5 15 (393 ) 12,241 Total assets $ 830,766 $ 4,513 $ 1,345 $ 124 $ 836,748 Liabilities and equity Securities sold, not yet purchased $ 9,505 $ - $ 118 $ - $ 9,623 Accrued expenses and other liabilities 69,712 28 79 19 69,838 Redeemable noncontrolling interests - 4,485 1,148 105 5,738 Total equity 751,549 - - - 751,549 Total liabilities and equity $ 830,766 $ 4,513 $ 1,345 $ 124 $ 836,748 December 31, 2014 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Assets Cash and cash equivalents $ 285,455 $ (11 ) $ 86 $ - $ 285,530 Investments in securities 201,038 - 7,801 51,293 260,132 Investments in partnerships 111,389 4,438 (8,181 ) - 107,646 Receivable from brokers 22,629 - 623 51,155 74,407 Investment advisory fees receivable 4,375 (6 ) (2 ) (222 ) 4,145 Other assets 22,683 - - 151 22,834 Total assets $ 647,569 $ 4,421 $ 327 $ 102,377 $ 754,694 Liabilities and equity Securities sold, not yet purchased $ 9,991 $ - $ - $ 604 $ 10,595 Accrued expenses and other liabilities 54,651 22 24 38,141 92,838 Redeemable noncontrolling interests - 4,399 303 63,632 68,334 Total equity 582,927 - - - 582,927 Total liabilities and equity $ 647,569 $ 4,421 $ 327 $ 102,377 $ 754,694 The CFFs, Partnerships and Offshore Funds columns above include only affiliated entities as no unaffiliated entities are consolidated. The following table includes the net impact by line item on the combined consolidated statements of income for each category of entity consolidated (in thousands): Twelve Months Ended December 31, 2015 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Total revenues $ 22,883 $ (34 ) $ (7 ) $ - $ 22,842 Total expenses 36,963 114 71 6 37,154 Operating income (14,080 ) (148 ) (78 ) (6 ) (14,312 ) Total other income (expense), net 11,967 (170 ) (69 ) 8 11,736 Income before income taxes (2,113 ) (318 ) (147 ) 2 (2,576 ) Income tax provision (1,685 ) - - - (1,685 ) Net income before NCI (428 ) (318 ) (147 ) 2 (891 ) Net income attributable to noncontrolling interests (317 ) (318 ) (147 ) 2 (780 ) Net income $ (111 ) $ - $ - $ - $ (111 ) Twelve Months Ended December 31, 2014 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Total revenues $ 22,027 $ (28 ) $ (3 ) $ (967 ) $ 21,029 Total expenses 29,920 62 44 927 30,953 Operating income (7,893 ) (90 ) (47 ) (1,894 ) (9,924 ) Total other income (expense), net 11,668 13 50 (2,189 ) 9,542 Income before income taxes 3,775 (77 ) 3 (4,083 ) (382 ) Income tax provision 775 - - - 775 Net income before NCI 3,000 (77 ) 3 (4,083 ) (1,157 ) Net income attributable to noncontrolling interests - (77 ) 3 (4,083 ) (4,157 ) Net income $ 3,000 $ - $ - $ - $ 3,000 The CFFs, Partnerships and Offshore Funds columns above include only affiliated entities as no unaffiliated entities are consolidated. Variable Interest Entities We also have sponsored a number of investment vehicles where we are the general partner or investment manager. These vehicles are VIEs, but we are not the primary beneficiary, in all but one case, because we do not absorb a majority of the entities' expected losses or expected returns, and they are therefore, not consolidated. We consolidate the one VIE where we are the primary beneficiary. The Company has not provided any financial or other support to these entities. The total assets of these non-consolidated VIEs at December 31, 2015 and 2014 were $70.2 million and $71.6 million, respectively. Our maximum exposure to loss as a result of our involvement with the VIEs is limited to the investment in one VIE and the deferred carried interest that we have in one another. On December 31, 2015 and 2014, we had an investment in one and two of the non-consolidated VIE offshore funds, respectively, of approximately $9.9 million and $10.6 million, respectively, which was included in investment in partnerships on the consolidated statements of financial condition. On December 31, 2015 and 2014, we had a deferred carried interest in one of the VIE offshore funds of approximately $39,000 and $43,000, respectively, which was included in investments in partnerships on the consolidated statements of financial condition. Additionally, as the general partner or investment manager to these VIEs the Company earns fees in relation to these roles, which given a decline in AUMs of the VIEs would result in lower fee revenues earned by the Company which would be reflected on the combined consolidated statements of income, combined consolidated statements of comprehensive income, consolidated statements of financial condition and combined consolidated statements of cash flows. The assets of these VIEs may only be used to satisfy obligations of the VIEs. The following table presents the balances related to these VIEs that are consolidated and were included on the consolidated statements of financial condition as well as the Company's net interest in these VIEs. Only one VIE is consolidated at both December 31, 2015 and December 31, 2014: December 31, December 31, 2015 2014 (In thousands) Cash and cash equivalents $ 1 $ - Investments in securities 83 - Investments in partnerships 4,791 13,434 Receivable from broker 425 - Payable to brokers (6 ) - Accrued expenses and other liabilities (404 ) (12 ) Redeemable noncontrolling interests (350 ) (794 ) AC's net interests in consolidated VIE $ 4,540 $ 12,628 Equity Method Investments The Company's equity method investments include its investments in partnerships and offshore funds. These equity method investments are not consolidated but on an aggregate basis exceed 10% of the Company's combined consolidated total assets or income. No single equity method investment held by the Company exceeded 20% of the Company's combined consolidated total assets or income. As such, the Company is not required to present separate financial statements for any of its equity method investees. The summarized financial information of the Company's equity method investments for December 31, 2015 and 2014 are as follows: December 31, December 31, 2015 2014 (In millions) Total assets $ 2,414 $ 2,436 Total liabilities 301 293 Total equity 2,113 2,143 For the year 2015 2014 Net income/(loss) (18 ) 49

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2015
Fair Value [Abstract]
Fair Value	E. Fair Value The following tables present information about the Company's assets and liabilities by major categories measured at fair value on a recurring basis as of December 31, 2015 and 2014 and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value: Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2015 (in thousands) Quoted Prices in Active Significant Other Significant Balance as of Markets for Identical Observable Unobservable December 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2015 Cash equivalents $ 205,733 $ - $ - $ 205,733 Investments in partnerships - 13,953 - 13,953 Investments in securities: AFS - Common stocks 136,360 - - 136,360 AFS - Mutual funds 1,143 - - 1,143 Trading - Gov't obligations 99,940 - - 99,940 Trading - Common stocks 91,686 - 508 92,194 Trading - Mutual funds 3,216 - - 3,216 Trading - Other 230 236 305 771 Total investments in securities 332,575 236 813 333,624 Investments in sponsored registered investment companies: AFS - Closed-end Funds 72,591 - - 72,591 AFS - Mutual Funds 2,952 - - 2,952 Trading - Mutual funds 43,133 - - 43,133 Total investments in sponsored registered investment companies 118,676 - - 118,676 Total investments 451,251 14,189 813 466,253 Total assets at fair value $ 656,984 $ 14,189 $ 813 $ 671,986 Liabilities Trading - Common stocks $ 9,537 $ - $ - $ 9,537 Trading - Other - 86 - 86 Securities sold, not yet purchased $ 9,537 $ 86 $ - $ 9,623 Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2014 (in thousands) Quoted Prices in Active Significant Other Significant Balance as of Markets for Identical Observable Unobservable December 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2014 Cash equivalents $ 285,504 $ - $ - $ 285,504 Investments in partnerships - 23,803 - 23,803 Investments in securities: AFS - Mutual funds 1,368 - - 1,368 Trading - Gov't obligations 18,996 - - 18,996 Trading - Common stocks 193,735 1 1,293 195,029 Trading - Mutual funds 3,498 - - 3,498 Trading - Other 513 897 294 1,704 Total investments in securities 218,110 898 1,587 220,595 Investments in sponsored registered investment companies: AFS - Closed-end Funds 36,323 - - 36,323 AFS - Mutual Funds 3,213 - - 3,213 Trading - Mutual funds 1 - - 1 Total investments in sponsored registered investment companies 39,537 - - 39,537 Total investments 257,647 24,701 1,587 283,935 Total assets at fair value $ 543,151 $ 24,701 $ 1,587 $ 569,439 Liabilities Trading - Common stocks $ 9,960 $ - $ - $ 9,960 Trading - Other - 635 - 635 Securities sold, not yet purchased $ 9,960 $ 635 $ - $ 10,595 The following table presents additional information about assets by major categories measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value. Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis for the year ended December 31, 2015 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December Unrealized Gains or Included in and Transfers 31, 2014 (Losses) in Income Other Unrealized In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 1,293 $ (195 ) $ - $ - $ (195 ) $ 6 $ (238 ) $ (358 ) $ 508 Trading - Other 294 98 - - 98 5 (80 ) (12 ) 305 Total $ 1,587 $ (97 ) $ - $ - $ (97 ) $ 11 $ (318 ) $ (370 ) $ 813 During the year ended December 31, 2015, there were no transfers between Level 1 and Level 2 holdings. During the year ended December 31, 2015, the Company reclassed approximately $370,000 of investments from Level 3 to Level 1. The reclassifications were due to increased availability of market price quotations and were based on the values at the beginning of the period in which the reclass occurred. Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis for the year ended December 31, 2014 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December Unrealized Gains or Included in and Transfers 31, 2013 (Losses) in Income Other Unrealized In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 700 $ 41 $ - $ - $ 41 $ - $ (343 ) $ 895 $ 1,293 Trading - Other 284 - - - - 10 - - 294 Total $ 984 $ 41 $ - $ - $ 41 $ 10 $ (343 ) $ 895 $ 1,587 During the year ended December 31, 2014, there were no transfers between Level 1 and Level 2 holdings. During the year ended December 31, 2014, the Company reclassed approximately $895,000 of investments from Level 1 to Level 3. The reclassifications were due to decreased availability of market price quotations and were based on the values at the beginning of the period in which the reclass occurred.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes [Abstract]
Income Taxes	F. Income Taxes Except for the one month period subsequent to our Spin-off, for which we independently determine our tax liability, we calculate the provision for income taxes by using a "separate return" method. Under this method, we are assumed to file a separate return with the tax authority, thereby reporting our taxable income or loss and paying the applicable tax or receiving the appropriate refund from GAMCO. Our current provision is the amount of tax payable or refundable on the basis of a hypothetical current-year separate return. We provide deferred taxes on temporary differences and on any carryforwards that we could claim on our hypothetical return and assess the need for a valuation allowance. As a result of the Spin-off, the operations of the Company's subsidiaries are included in the consolidated U.S. federal and certain state and local income tax returns of GAMCO for the first eleven months of the 2015. The Company will file consolidated U.S. federal and certain state and local income tax returns for the last month of 2015. The Company's subsidiaries' federal and certain state and local income taxes are calculated as if the Company's subsidiaries filed on a separate return basis, and the amount of current and deferred tax or benefit is either remitted to or received from GAMCO for the first eleven months of 2015 or the Company for December 2015 using a benefits for loss approach such that net operating loss (or other tax attribute) is characterized as realized by the Company's subsidiaries when those tax attributes are utilized in the consolidated tax return of GAMCO or the Company. This is the case even if the Company's subsidiaries would not otherwise have realized those tax attributes. The provision for income taxes for the years ended December 31, 2015 and 2014 consisted of the following: 2015 2014 (In thousands) Federal: Current $ 4,540 $ 5,775 Deferred (6,160 ) (5,003 ) State and local: Current 225 39 Deferred (290 ) (36 ) Total $ (1,685 ) $ 775 The Company has a pre-state apportionment net operating loss of approximately $24.9 million which will expire at varying amounts between 2030 through 2035. Total tax benefit derived from this net operating loss (limited to the three states where the Company files separate tax returns) has been estimated at $166,000. We believe that it is more likely than not that the benefit from the three separate states net operating loss carryforwards will not be realized. In recognizing this risk, we have provided a valuation allowance of $166,000 on the deferred tax assets relating to these net operating losses. A reconciliation of the Federal statutory rate to the effective tax rate is set forth below: 2015 2014 Statutory Federal income tax rate 34.0 % 35.0 % State income tax, net of Federal benefit 1.6 (0.5 ) Dividends received deduction 26.4 133.0 Donation of appreciated securities 3.2 13.5 Noncontrolling interests 0.0 (377.0 ) Other 0.2 (6.9 ) Effective income tax rate 65.4 % (202.9 )% Significant components of our deferred tax assets and liabilities are as follows: 2015 2014 (In thousands) Deferred tax assets: Stock compensation expense $ 77 $ 847 Deferred compensation 871 835 Investments in securities available for sale 5,523 - Other - 193 Total deferred tax assets 6,471 1,875 Deferred tax liabilities: Investments in securities available for sale - (1,510 ) Investments in securities and partnerships (9,839 ) (14,911 ) Deferred gain - (2,000 ) Other liabilities (41 ) (34 ) Total deferred tax liabilities (9,880 ) (18,455 ) Net deferred tax liabilities $ (3,409 ) $ (16,580 ) A reconciliation of the beginning and ending amount of gross unrecognized tax benefits related to uncertain tax positions is as follows: (in thousands) Balance at January 1, 2014 $ 92.7 Additions based on tax positions related to the current year (34.2 ) Additions for tax positions of prior years - Reductions for tax positions of prior years (1.4 ) Settlements - Balance at December 31, 2014 57.1 Additions based on tax positions related to the current year (59.7 ) Additions for tax positions of prior years - Reductions for tax positions of prior years (1.9 ) Settlements (11.2 ) Balance at December 31, 2015 $ (15.7 ) The Company records penalties and interest related to tax uncertainties in income taxes. As of December 31, 2015 and 2014, the Company's had gross unrecognized tax benefits (liabilities) of ($15,678) and $57,054 respectively, of which ($10,347) and $37,085, respectively, if recognized, would impact the Company's effective tax rate. The Company has accrued liabilities of $83,950 and $78,689 as of December 31, 2015 and 2014, respectively, for interest and penalties. These amounts are included in accrued expenses and other liabilities on the consolidated statements of financial condition. Under the Company's Tax Indemnity and Sharing Agreement with GAMCO, GAMCO is liable for all income taxes of the Company for periods prior to the Spin-off from GAMCO. Income tax expense for such periods is based on the taxable income of the Company on a separate tax return basis. The Company is not currently under audit by any tax jurisdiction.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	G. Related Party Transactions The following is a summary of certain related party transactions. GGCP Holdings LLC owns a majority of our Class B Stock, representing approximately 93% of the combined voting power and 72% of the outstanding shares of our common stock at December 31, 2015. Loans with GAMCO GSI entered into a $15 million demand loan with GAMCO on March 15, 2004 at a rate of 5.5% per year. On February 28, 2007, GSI paid back $5 million to GAMCO. GSI entered into an additional demand loan for $16 million with GAMCO on August 17, 2010 at a rate of 5.5% per year. On March 7, 2014, the Company repaid $10 million of the loan to GAMCO. On December 28, 2015, GSI repaid the remaining $16 million balance owed to GAMCO. As of December 31, 2015, there are no demand loans outstanding with GAMCO. The balance at December 31, 2014, which approximates the fair value, was $16 million and was included in payable to affiliates on the consolidated statements of financial condition. The interest was $0.9 million and $1.0 million in 2015 and 2014, respectively, and is included in interest expense on the combined consolidated statements of income. On November 27, 2015, GSI purchased from GAMCO 4.4 million shares of GAMCO Class A common stock in exchange for a five-year 4% note payable of $150 million ("GSI Note"). As part of the Spin-off of AC from GAMCO on November 30, 2015, GAMCO contributed the GSI Note to AC. During 2015, GSI paid to GAMCO $66,000 of interest which is included in interest expense on the combined consolidated statements of income. GAMCO issued the GAMCO Note to AC Group in the original principal amount of $250.0 million used to partially capitalize the Company in connection with the Spin-off. See Note A. Organization and Spin-off Transaction. Investment in Securities At December 31, 2015 and 2014, approximately $41 million and $80 million, respectively, of our proprietary investment accounts, which were included in investments in securities on the consolidated statements of financial condition, were managed by our analysts or portfolio managers other than Mr. Mario Gabelli. The individuals managing these accounts receive 20% of the net profits, if any, earned on the accounts. In August 2006, a son of the Chairman was given responsibility for managing a proprietary investment account, on which he would be paid, on an annual basis, 20% of any net profits earned on the account for the year. The account was initially funded with approximately $40 million during 2006, and subsequent withdrawals have totaled $40 million from 2009 through 2015. The balance in the account at December 31, 2015 was $13.7 million, of which $2.4 million is owed to the portfolio manager representing his earnings that have been re-invested in the account. For 2015 and 2014, this account was up 2.4% and 1.6%, respectively, and therefore he earned approximately $0.1 million and $0.1 million, respectively, for managing this account. At December 31, 2015 and 2014, the Company had investments of $205.7 million and $285.5 million, respectively, invested in the Gabelli U.S. Treasury Money Market Fund, which is recorded in cash and cash equivalents on the consolidated statements of financial condition. Investments in affiliated equity mutual funds ("Funds"), which are advised by Gabelli Funds, LLC and Teton Advisors, Inc., which is majority-owned by GGCP Holdings, LLC, which is also the majority stockholder of GAMCO, at December 31, 2015 and 2014 totaled $119.8 million and $40.9 million, respectively, and are included in either investments in securities or investments in affiliated registered investment companies on the consolidated statements of financial condition. Investment in Partnerships We had an aggregate investment in affiliated partnerships and offshore funds of approximately $89.3 million and $94.2 million at December 31, 2015 and 2014, respectively. Investment Advisory Services Gabelli Securities International Limited ("GS International") was formed in 1994 to provide management and investment advisory services to offshore funds and accounts. Marc Gabelli, President and a director of the Company, owns 55% of GS International, and GSI owns the remaining 45%. In 1994, Gabelli International Gold Fund Limited ("GIGFL"), an offshore investment company investing primarily in securities of issuers with gold-related activities, was formed and GS International entered into an agreement to provide management services to GIGFL. GSI in turn entered into an agreement with GS International to provide investment advisory services to GIGFL in return for receiving all investment advisory fees paid by GIGFL. Pursuant to such agreement, GSI earned investment advisory fees of $3,304 and no incentive fees for 2015. Comparable amounts for 2014 were $11,096 and no incentive fee. As of December 31, 2015 and 2014, there were $7,904, and $2,936, respectively, payable to GIGFL included in payables to affiliates on the consolidated statements of financial condition relating to advisory fees. In April 1999, Gabelli Global Partners, Ltd. ("GGP Ltd."), an offshore investment fund, was incorporated. GS International and Gemini Capital Management, LLC ("Gemini"), an entity owned by Marc Gabelli, the President of AC, were engaged by GGP Ltd. as investment advisors as of July 1, 1999. GGP Ltd. paid all of the advisory fees for 2015 and 2014 in the amounts of $56,708 and $286,360, respectively, to GS International. For 2014, GGP Ltd. paid all of the incentive fees in the amount of $20,886, to GS International. There were no incentive fees earned in 2015. In April 1999, GSI formed Gabelli Global Partners, L.P., an investment limited partnership for which GSI and Gemini are the general partners. In March 2002, Gabelli Global Partners, L.P. changed its name to Gemini Global Partners, L.P. Gemini and GSI each received half of the advisory fee paid by the partnership to the general partners in the amount of $70,345 and $78,288 for 2015 and 2014, respectively. In 2015 and 2014, the incentive fees earned were $0 and $178, respectively. As of December 31, 2015 and 2014, there were $168,311 and $98,144, respectively, receivable from Gemini Global Partners, L.P. included in receivables from affiliates on the consolidated statements of financial condition. Compensation Prior to the Spin-off, the amount of management fee reflected on the financial statements is a carve-out from the historical GAMCO consolidated financial statements. Under this methodology, the management fee expense can be a contra-expense. Subsequent to the Spin-off on November 30, 2015, and in accordance with Mr. Gabelli's employment agreement, the Company will pay the Chairman, or his designated assignee, a monthly management fee equal to 10% of the Company's pretax profits before consideration of this fee and before consolidation of the various consolidated feeder funds and partnerships discussed in Note D. In no circumstances will this fee be a contra-expense to the Company subsequent to the Spin-off on November 30, 2015. In 2015 and 2014, the Company recorded management fee expense or (contra-expense) of ($309,000) and ($37,000), respectively. These fees are recorded as management fee on the combined consolidated statements of income. Prior to January 1, 2015, the Company also paid GAMCO an administrative management fee of 2.75% of total brokerage income (as defined in an agreement between the parties). In 2014, the administrative management fee amounted to $235,920. These fees are recorded as other operating expenses on the combined consolidated statements of income. Income Taxes As a result of the Spin-off, the operations of the Company's subsidiaries are included in the consolidated U.S. federal and certain state and local income tax returns of GAMCO for the first eleven months of the 2015. The Company will file consolidated U.S. federal and certain state and local income tax returns for the last month of 2015. The Company's subsidiaries' federal and certain state and local income taxes are calculated as if the Company's subsidiaries filed on a separate return basis, and the amount of current and deferred tax or benefit is either remitted to or received from GAMCO for the first eleven months of 2015 or the Company for December 2015 using a benefits for loss approach such that net operating loss (or other tax attribute) is characterized as realized by the Company's subsidiaries when those tax attributes are utilized in the consolidated tax return of GAMCO or the Company. This is the case even if the Company's subsidiaries would not otherwise have realized those tax attributes. Affiliated Receivables/Payables At December 31, 2015, the receivable from affiliates consists primarily of cash owed to AC by GAMCO related to the Spin-off. At December 31, 2014, the receivable from affiliates consists primarily of expenses paid on behalf of affiliates by the Company. At December 31, 2014, the payable to affiliates primarily consisted of the loan payable to GAMCO of $16 million, and compensation and administrative expenses of $4.7 million which is payable on demand. GAMCO Capital Lease On December 5, 1997, GAMCO entered into a fifteen-year lease, expiring on April 30, 2013, of office space at 401 Theodore Fremd Ave, Rye, NY from M4E, LLC, an entity owned by the adult children of the GAMCO Chairman, one of whom joined GAMCO's board of directors in June 2014. On September 15, 2008, GAMCO modified and extended this lease to December 31, 2023, and on June 11, 2013, GAMCO further modified and extended this lease to December 31, 2028. The Company paid $310,566 and $312,014 to GAMCO in 2015 and 2014, respectively, for its use of the Rye location. The amounts are included within other operating expenses on the combined consolidated statements of income. Other In 2015 and 2014, the Company earned $4.9 million and $4.7 million, respectively, or 59% and 54%, respectively, of its commission revenue, which is included in institutional research services on the combined consolidated statements of income, from transactions executed on behalf of Funds and private wealth management clients advised by GAMCO Asset Management Inc., a wholly-owned subsidiary of GAMCO. As required by the Company's Code of Ethics, staff members are required to maintain their brokerage accounts at G.research unless they receive permission to maintain an outside account. G.research offers its entire staff the opportunity to engage in brokerage transactions at discounted commission rates. Accordingly, many of our staff members, including the executive officers or entities controlled by them, have brokerage accounts at G.research and have engaged in securities transactions at discounted rates. GAMCO Asset Management Inc. and Gabelli Funds, LLC paid $0.7 million and $0.8 million, respectively, to the Company pursuant to research services agreements (see Note B) for both years ended December 31, 2015 and 2014. During 2014, the Company participated as agent in the at the market offerings of The Gabelli Global Gold, Natural Resources & Income Trust ("GGN"). Pursuant to sales agreements between the parties, the Company earned sales manager fees related to these offerings of $0.6 million during 2014 which is included in institutional research services on the combined consolidated statements of income. There were no sales manager fees earned from GGN offerings during 2015. In September 2014, the Company acted as co-underwriter in The Gabelli Healthcare & WellnessRx Trust 5.875% Series B Cumulative Preferred Stock ("GRX Series B") offering. Underwriting fees and selling concessions, net of expenses, related to the GRX Series B launch were approximately $19,000 and are included in institutional research services in the combined consolidated statements of income. During 2014, the Company also acted as Dealer Manager for The Gabelli Healthcare & WellnessRx Trust, The Gabelli Multimedia Trust, and The Gabelli Equity Trust common stock rights offerings. During 2014, the Company earned no revenue for this role. On July 27, 2011, the Company entered into a Distribution Agreement with G.distributors, LLC ("G.distributors"). As stated in the Distribution Agreement, the Company is the broker of record for certain ongoing client relationships for which it earns distribution fees. Subsequent to July 31, 2011, the Company recorded distribution fees revenue of $0.3 million and $0.5 million in 2015 and 2014, respectively, in relation to this role. On July 1, 2015, these mutual fund distribution assets were transferred out of the Company. At December 31, 2014, distribution fees of $44,460 are due from G.distributors and are included in the other assets on the combined consolidated statements of financial condition. On June 30, 2015, G.research, LLC was formed as a single member LLC of Distributors Holdings, Inc. ("DHI"), a 100% subsidiary of GSI, to transfer the distribution assets of G.research, Inc. through a series of steps to G.distributors. On July 1, 2015, G.research, Inc. was merged into G.research, LLC. As a result of the merger, a deferred tax liability of $1,937,670 was transferred to G.research, LLC's sole member, DHI, resulting in a capital contribution to G.research, LLC. The distribution assets were then transferred from G.research, LLC to DHI for their fair value of $234,000, also resulting in a capital contribution to G.research, LLC. DHI transferred G.research, LLC to GSI resulting in a deferred tax asset of $88,227 (tax effect of the transferred distribution assets of $234,000) to be recorded on DHI's books and a deferred tax liability of $88,227 to be recorded on the books of G.research, LLC. GSI transferred DHI to GAMCO Asset Management Inc. GAMCO Asset Management Inc. subsequently transferred its 100% owned subsidiary, G.distributors, to DHI. DHI then transferred the distribution assets to G.distributors. Pursuant to an agreement between the Company and Gabelli Funds, LLC, Gabelli Funds, LLC pays to GSI 90% of the net revenues received by Gabelli Funds, LLC related to being the advisor to the SICAV. Net revenues is defined as gross advisory fees less expenses related to payouts and expenses of the SICAV paid by Gabelli Funds, LLC. The amounts paid by Gabelli Funds, LLC to GSI for 2015 and 2014 are $1,007,164 and $252,419, respectively, and are included in management fees on the consolidated statements of operations. As general partner or co-general partner of various affiliated limited partnerships, the Company receives a management fee based on a percentage of each partnership's net assets and a 20% incentive allocation based on economic profits.

Stockholder's Equity

Stockholder's Equity	12 Months Ended
	Dec. 31, 2015
Stockholder's Equity [Abstract]
Stockholder's Equity	H. Stockholder's Equity During 2014, GAMCO issued 158,600 RSAs. There were no RSAs issued by either GAMCO or AC during 2015, except in relation to the Spin-off. On November 30, 2015, in connection with the Spin-off, the Company issued 554,100 AC RSA shares to GAMCO employees (including GAMCO employees who became AC employees) who held 554,100 GAMCO RSA shares at that date. The purpose of the issuance was to ensure that any employee who had GAMCO RSA's were granted an equal number of AC RSA's so that the total value of the RSA's post-spin-off was equivalent to the total value pre-spin-off. As of December 31, 2015, there were 553,100 AC RSA shares outstanding and 553,100 GAMCO RSA shares outstanding. As of December 31, 2014, there were 710,750 GAMCO RSA shares outstanding. In accordance with GAAP, we have allocated the stock compensation costs between GAMCO and AC based upon each employee's individual allocation of their responsibilities between GAMCO and AC. The total compensation costs related to non-vested awards not yet recognized is approximately $7.0 million as of December 31, 2015. This will be recognized as expense in the following periods (in thousands): 2016 2017 2018 2019 2020 $ 2,270 $ 1,691 $ 1,115 $ 924 $ 423 2021 2022 2023 2024 $ 282 $ 172 $ 75 $ 13 For the years ended December 31, 2015 and 2014, the Company recorded approximately $4.9 million and $1.9 million, respectively, in stock based compensation expense which resulted in the recognition of tax benefits of approximately $1.7 million and $0.7 million, respectively. The $4.9 million for the year ended December 31, 2015, includes $2.4 million in stock compensation expense as a result of accelerating the November 2013 RSA grant. There were no comparable accelerations in the year ended December 31, 2014.

Retirement Plan

Retirement Plan	12 Months Ended
	Dec. 31, 2015
Retirement Plan [Abstract]
Retirement Plan	I. Retirement Plan The Company participates in an incentive savings plan (the "Plan"), covering substantially all employees. Company contributions to the Plan are determined annually by management of the Company and (prior to the Spin-off) GAMCO's Board of Directors but may not exceed the amount permitted as a deductible expense under the Internal Revenue Code. The amount expensed for allocated contributions to this Plan amounted to approximately 12,000 in 2015 and is included in compensation on the combined consolidated statements of income. For the year ended December 31, 2014, the Company used unvested contributions that were forfeited from prior year's matching to satisfy the current year's contribution.

Guarantees, Contingencies, and

Guarantees, Contingencies, and Commitments	12 Months Ended
	Dec. 31, 2015
Guarantees, Contingencies, and Commitments [Abstract]
Guarantees, Contingencies, and Commitments	J. Guarantees, Contingencies, and Commitments G.research has agreed to indemnify the clearing brokers for losses they may sustain from the customer accounts that trade on margin introduced by G.research. At December 31, 2015, the total amount of customer balances subject to indemnification (i.e., unsecured margin debits) was immaterial. G.research also has entered into arrangements with various other third parties, many of which provide for indemnification of the third parties against losses, costs, claims and liabilities arising from the performance of G.research's obligations under the agreements. G.research has had no claims or payments pursuant to these or prior agreements, and management believes the likelihood of a claim being made is remote, and therefore, an accrual has not been made on the combined consolidated financial statements. From time to time, we may be named in legal actions and proceedings. These actions may seek substantial or indeterminate compensatory as well as punitive damages or injunctive relief. We are also subject to governmental or regulatory examinations or investigations. Examinations or investigations can result in adverse judgments, settlements, fines, injunctions, restitutions or other relief. For any such matters, the combined consolidated financial statements include the necessary provisions for losses that we believe are probable and estimable. Furthermore, we evaluate whether there exist losses which may be reasonably possible and, if material, make the necessary disclosures.

Net Capital Requirements

Net Capital Requirements	12 Months Ended
	Dec. 31, 2015
Net Capital Requirements [Abstract]
Net Capital Requirements	K. Net Capital Requirements G.research is a registered broker-dealer, and is subject to the SEC Uniform Net Capital Rule 15c3-1 (the "Rule"), which specifies, among other requirements, minimum net capital requirements for registered broker-dealers. G.research computes its net capital under the alternative method as permitted by the Rule, which requires that minimum net capital be the greater of $250,000 or 2% of the aggregate debit items in the reserve formula for those broker-dealers subject to Rule 15c3-3. G.research, Inc. is exempt from Rule 15c3-3 pursuant to paragraph (k)(2)(ii) of that rule which exempts all customer transactions cleared through another broker-dealer on a fully disclosed basis. In addition, our assets at the clearing broker-dealer are treated as allowable assets for net capital purposes as we have in place Proprietary Accounts of Introducing Firms and Dealers ("PAIB") agreements pursuant to Rule 15c3-3. These requirements also provide that equity capital may not be withdrawn, advances to affiliates may not be made or cash dividends paid if certain minimum net capital requirements are not met. G.research had net capital, as defined, of $7.1 million and $1.6 million, exceeding the required amount of $250,000 by $6.9 million and $1.4 million, at December 31, 2015 and 2014, respectively. There was one subordinated borrowing during the year ended December 31, 2014. There was no subordinated borrowing during the year ended December 31, 2015. On September 12, 2014, GSI and G.research entered into a subordinated loan agreement to support its underwriting activity with respect to the GRX Series B offering. GSI lent G.research $1,000,000, which was repaid in full including accrued interest of 2.25% per annum or $2,813 on the October 27, 2014 due date.

Gabelli Securities, Inc.

Gabelli Securities, Inc.	12 Months Ended
	Dec. 31, 2015
Gabelli Securities, Inc. [Abstract]
Gabelli Securities, Inc.	L. Gabelli Securities, Inc. The Company owns a 93.9% interest in GSI. Certain employees of the Company or its affiliates own 1.9% of GSI, and the remaining 4.2% of GSI is owned by investors unrelated to the Company. Stockholders who are employees of the Company or its affiliates must sell their shares to GSI at the book value per share of the previous fiscal year end when they leave the firm. The book value per share of GSI was $88.64 and $102.18 at December 31, 2015 and 2014, respectively. Below are the consolidated statements of financial condition of GSI at December 31, 2015 and 2014, respectively. December 31, December 31, 2015 2014 ASSETS Cash and cash equivalents $ 13,153 $ 7,987 Investments in securities (Including GAMCO stock with a market value of $136.4 million and $0 at December 31, 2015 and December 31, 2014, respectively) 151,995 14,756 Investments in partnerships 75,427 84,992 Receivable from brokers and clearing organizations 4,273 4,175 Receivable from affiliates 3,789 3,522 Income taxes receivable from parent 250 247 Distribution fees receivable - 44 Incentive fees receivable 1,391 836 Fixed assets 19 30 Goodwill 3,254 3,254 Other assets 939 2,203 Total assets $ 254,490 $ 122,046 LIABILITIES AND EQUITY Compensation payable $ 7,410 $ 6,506 Note payable to parent 150,000 - Income taxes payable 2,050 7,738 Distribution costs payable 407 813 Securities sold, not yet purchased 118 - Payables to affiliates 24,341 20,713 Mandatorily redeemable shares (12,741 shares outstanding) 1,129 1,302 Accrued expenses and other liabilities 682 581 Total liabilities 186,137 37,653 Redeemable noncontrolling interests 9,948 17,070 Equity: Common stock, $0.01 par value; 1,250,000 shares authorized; 726,953 issued; and 658,875 outstanding 7 7 Additional paid-in capital 22,869 20,786 Retained earnings 43,644 45,482 Accumulated other comprehensive income (loss) (8,115 ) 1,048 Total Gabelli Securities, Inc. stockholders' equity 58,405 67,323 Total liabilities and equity $ 254,490 $ 122,046

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information (Unaudited) [Abstract]
Quarterly Financial Information (Unaudited)	M. Quarterly Financial Information (Unaudited) Quarterly financial information for the years ended December 31, 2015 and 2014 is presented below. 2015 1st 2nd 3rd 4th Total (In thousands, except per share data) Revenues $ 4,567 $ 4,590 $ 4,690 $ 8,995 $ 22,842 Operating loss (3,880 ) (3,468 ) (1,081 ) (5,883 ) (14,312 ) Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders 2,385 855 (7,540 ) 4,189 (111 ) Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders per share: Basic $ 0.09 $ 0.03 $ (0.30 ) $ 0.17 $ - Diluted $ 0.09 $ 0.03 $ (0.30 ) $ 0.17 $ - 2014 1st 2nd 3rd 4th Total Revenues $ 3,904 $ 4,553 $ 4,895 $ 7,677 $ 21,029 Operating loss (3,278 ) (3,645 ) (748 ) (2,253 ) (9,924 ) Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders 422 4,015 (3,783 ) 2,346 3,000 Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders per share: Basic $ 0.02 $ 0.16 $ (0.15 ) $ 0.09 $ 0.12 Diluted $ 0.02 $ 0.16 $ (0.15 ) $ 0.09 $ 0.12

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	N. Subsequent Events On February 18, 2016, the Board of Directors declared a dividend of $0.10 per share to all of its shareholders, payable on June 28, 2016 to shareholders of record on June 14, 2016. From January 1, 2016 to March 23, 2016, the Company repurchased 40,737 shares at $26.93 per share. As a result, there are 457,763 shares available to be repurchased under our existing buyback plan at March 23, 2016.

Significant Accounting Polici25

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Significant Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of the combined consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents primarily consist of an affiliated money market mutual fund which is highly liquid. U.S. Treasury Bills and Notes with maturities of three months or less at the time of purchase are also considered cash equivalents.
Investments in Securities	Investments in Securities Investments in securities are accounted for as either "trading securities" or "available for sale" and are stated at fair value. Management determines the appropriate classification of debt and equity securities at the time of purchase and reevaluates such designations as of each balance sheet date. U.S. Treasury Bills and Notes with maturities of greater than three months at the time of purchase are considered investments in securities. Securities that are not readily marketable are stated at their estimated fair values in accordance with GAAP. A substantial portion of investments in securities are held for resale in anticipation of short-term market movements and therefore are classified as trading securities. Trading securities are stated at fair value, with any unrealized gains or losses reported in current period earnings in net gain from investments on the combined consolidated statements of income. Available for sale ("AFS") investments are stated at fair value, with any unrealized gains or losses, net of taxes, reported as a component of other comprehensive loss on the combined consolidated statements of comprehensive loss except for losses deemed to be other than temporary which are recorded as realized losses on the combined consolidated statements of income. Securities transactions and any related gains and losses are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded on the specific identified cost basis and are included in net gain from investments on the combined consolidated statements of income. AFS securities are evaluated for other than temporary impairments each reporting period, and any impairment charges are recorded in net gain from investments on the combined consolidated statements of income. Management reviews all AFS securities whose cost exceeds their fair value to determine if the impairment is other than temporary. Management uses qualitative factors such as diversification of the investment, the intent to hold the investment, the amount of time that the investment has been impaired and the severity of the decline in determining whether the impairment is other than temporary. Securities sold, not yet purchased are recorded on the trade date, and are stated at fair value and represent obligations of the Company to purchase the securities at prevailing market prices. Therefore, the future satisfaction of such obligations may be for an amount greater or less than the amounts recorded on the consolidated statements of financial condition. The ultimate gains or losses recognized are dependent upon the prices at which these securities are purchased to settle the obligations under the sales commitments. Realized gains and losses from covers of securities sold, not yet purchased transactions are included in net gain/(loss) from investments on the combined consolidated statements of income. Unrealized gains and losses on securities sold, not yet purchased are reported in current period earnings in net gain from investments on the combined consolidated statements of income.
Fair Values of Financial Instruments	Fair Value of Financial Instruments All of the instruments within investments in securities are measured at fair value. Certain investments in partnerships are also measured at fair value. The Company's assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy in accordance with the Financial Accounting Standards Board's ("FASB") guidance on fair value measurement. The levels of the fair value hierarchy and their applicability to the Company are described below: ● Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities at the reporting date. Level 1 asset includes cash equivalents, government obligations, open-end mutual funds, closed-end funds and equities. ● Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities that are not active and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly-quoted intervals. Assets that generally are included in this category may include certain limited partnership interests in private funds and over the counter derivatives that have inputs to the valuations that can generally be corroborated by observable market data. ● Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Assets included in this category generally include equities that trade infrequently and direct private equity investments held within consolidated partnerships. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Investments are transferred into or out of any level at their beginning period values. The availability of observable inputs can vary from instrument to instrument and is affected by a wide variety of factors, including, for example, the type of instrument, whether the instrument is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized as Level 3. The valuation process and policies reside with the financial reporting and accounting group which reports to the Chief Financial Officer of the Company. The Company uses the "market approach" valuation technique to value investments in Level 3 investments. The Company's valuation of the Level 3 investments has been based upon either i) the recent sale prices of the issuer's equity securities or ii) the net assets, book value or cost basis of the issuer when there are no recent sales prices available. In the absence of a closing price, an average of the bid and ask price is used. Bid prices reflect the highest price that the market is willing to pay for an asset. Ask prices represent the lowest price that The market is willing to accept for an asset. Cash equivalents Investments in securities Investments in Partnerships —T he Company's investments include limited partner investments in consolidated feeder funds. The Company considers the net asset value of the master funds held by the consolidated feeder fund to be the best estimate of fair value. Investments in private funds that are redeemable at the measurement date or within the near term are categorized in Level 2 of the fair value hierarchy. We may redeem our investments in these funds monthly with 30 days' notice. Otherwise, funds are categorized in Level 3 of the fair value hierarchy.
Receivables from Affiliates and Payables to Affiliates	Receivables from Affiliates and Payables to Affiliates Receivables from affiliates consist primarily of incentive fees/allocation and advisory fees due from certain affiliated partnerships. Payables to affiliates primarily consist of loans payable to GAMCO. See Note G.
Receivables from and Payables to Brokers	Receivables from and Payables to Brokers Receivables from and payables to brokers consist of amounts arising from the purchases and sales of securities as well as cash amounts held in anticipation of investment.
Consolidation	Consolidation In accordance with the consolidation assessment models set forth in Accounting Standards Codification ("Codification") 810-10 and 810-20, the Company consolidates all investments in partnerships and affiliates in which the Company has a controlling interest or is deemed to be the primary beneficiary. In order to make this determination, an analysis is performed to determine if the entity is a variable interest entity ("VIE") or a voting interest entity ("VOE"). If the entity is a VIE, further analysis, as discussed below, is performed to determine if the Company is the primary beneficiary of the entity. If the entity is not a VIE, the Company will apply the VOE model as discussed below. Variable Interest Entities A VIE is an entity in which either (a) the equity investment at risk is not sufficient to permit the entity to finance its own activities without additional financial support; (b) the equity investors do not have the ability to make decisions about the entities' activities or obligation to absorb the expected losses of the entity or the right to receive the expected residual returns of the entity or (c) the voting rights are not proportional to their obligations to absorb the expected losses of the entity or their rights to receive the expected residual returns of the entity. The Company evaluates whether entities in which it has an interest are VIEs and whether the Company is the primary beneficiary of any VIEs identified in its analysis. The Company is the primary beneficiary if it absorbs a majority of the VIE's expected losses, expected residual returns, or both. If the Company is the primary beneficiary of a VIE, it consolidates that entity. If the Company is not the primary beneficiary, it accounts for its investment under the equity method. In June 2009, the FASB amended the guidance on VIEs when it issued ASU 2009-17. This guidance requires that if a decision maker has a variable interest in a VIE, the decision maker is not solely acting in a fiduciary capacity and would be required to consolidate the VIE if it has both the power to direct the most significant activities of the VIE and economic exposure that could potentially be significant to the VIE. The Company is general partner or co-general partner of various sponsored partnerships and the investment manager of various sponsored offshore funds whose underlying assets consist primarily of marketable securities (the "affiliated entities"). If the Company were to apply such guidance, it would be required to consolidate most of its affiliated entities. In February 2010, the FASB issued ASU 2010-10, which indefinitely deferred the effective date of the amendments to Codification 810-10 made by ASU 2009-17, for a reporting entity's interest in certain entities. Currently, interests in entities that qualify for the deferral are evaluated by applying the VIE model in Codification 810-10 (i.e., before the amendments by ASU 2009-17), while interests in entities that do not qualify for the deferral must be evaluated under the amendments in ASU 2009-17. Because all of the entities with which the Company is involved which would have been subject to the guidance in ASU 2009-17 were determined to qualify for the FASB's deferral of such guidance, the Company applies the guidance for VIEs that existed prior to the issuance of ASU 2009-17. Voting Interest Entities If the entity is not considered a VIE, it is treated as a VOE, and the Company applies the guidance in Codification 810-20 in determining whether the entity should be consolidated. Under Codification 810-20, the general partner or investment manager is deemed to control the entity and therefore must consolidate it unless the unaffiliated limited partners or shareholders (a) have the ability to remove the general partner or investment manager, without cause; (b) have the ability to dissolve the entity or (c) have substantive participating rights. If the unaffiliated limited partners or shareholders possess any of the foregoing rights, then the Company does not consolidate the entity, and either the equity or cost method of accounting is applied. If the unaffiliated limited partners or shareholders do not have any such rights, the Company consolidates the entity. Equity Method Investments Substantially all of the Company's equity method investees are entities that record their underlying investments at fair value. Therefore, under the equity method of accounting, the Company's share of the investee's underlying net income predominantly represents fair value adjustments in the investments held by the equity method investees. The Company's share of the investee's underlying net income or loss is based upon the most currently available information and is recorded as "Net gain from investments" on the combined consolidated statements of income. Capital contributions are recorded as an increase in investments when paid, while withdrawals and distributions are recorded as reductions of the investments when received. Depending on the terms of the investment, the Company may be restricted as to the timing and amounts of withdrawals. See Note D. Investments in Partnerships, Offshore Funds and Variable Interest Entities for more detail as to the number and types of entities consolidated as well as the impact on the consolidated statements of financial condition and combined consolidated statements of income.
Investments in Partnerships and Affiliates	Investments in Partnerships and Affiliates The Company is general partner or co-general partner of various affiliated entities. We also have investments in unaffiliated partnerships, offshore funds and other entities ("unaffiliated entities"). Given that we are not a general partner or investment manager in any unaffiliated entities, we do not earn any management or incentive fees/allocation and we do not have a controlling financial interest, we do not currently consolidate any unaffiliated entities. Our balance sheet caption "Investments in partnerships" includes those investments, in both affiliated and unaffiliated entities, which the Company accounts for under the equity method of accounting and certain investments in consolidated feeder funds ("CFFs") that the Company accounts for at fair value, as described below. For CFFs that own 100% of their offshore master funds, the Company retains the CFF's specialized investment company accounting (i.e., the CFFs account for their investment in master funds at fair value). The Company records noncontrolling interests in consolidated entities for which the Company's ownership is less than 100%. Refer to Noncontrolling Interests section within Note B for additional disclosures.
Derivative Financial Instruments	Derivative Financial Instruments The Company recognizes all derivatives as either assets or liabilities measured at fair value and are included in either investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. From time to time, the Company will enter into hedging transactions to manage its exposure to foreign currencies and equity prices related to its proprietary investments. During 2015 and 2014, the Company had derivative transactions which resulted in net gains of $264,000 and $729,000, respectively. At December 31, 2015 and 2014, we held derivative contracts on 0.3 million equity shares and 3.8 million equity shares, respectively, and the net fair value was $149,000 and $262,000, respectively, and is included as investments in securities on the consolidated statements of financial condition. These transactions are not designated as hedges for accounting purposes, and changes in fair values of these derivatives are included in net gain from investments on the combined consolidated statements of income and included in investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition.
Securities Transactions	Securities Transactions The Company also generates investment gains or losses from its proprietary trading activities which are included in net gain from investments on the combined consolidated statements of income. Management determines the appropriate classification of debt and equity securities at the time of purchase and reevaluates such designation as of the date of each consolidated statement of financial condition. Investments in United States Treasury Bills and Notes with maturities of greater than three months at the time of purchase are classified as investments in securities, and those with maturities of three months or less at the time of purchase are classified as cash equivalents. The portion of investments in securities held for resale in anticipation of short-term market movements are classified as trading securities. Trading securities are stated at fair value, with any unrealized gains or losses reported in current period earnings. AFS investments are stated at fair value, with any unrealized gains or losses, net of taxes, reported as a component of equity except for losses deemed to be other than temporary ("OTT") which are recorded as realized losses in the combined consolidated statements of income.
Major Revenue-Generating Services and Revenue Recognition	Major Revenue-Generating Services and Revenue Recognition Advisory fees from investment partnerships and offshore funds are computed either monthly or quarterly, and amounts receivable are included in receivables from affiliates on the consolidated statements of financial condition. Revenues from investment partnerships and offshore funds also generally include either an incentive fee/allocation on the absolute gain in a portfolio or a fee of 20% of the economic profit as defined in the partnership agreement and is included in investment advisory and incentive fees on the combined consolidated statements of income. The incentive allocation or fee is recognized at the end of the measurement period, which is annually, and amounts receivable are included in either receivables from affiliates or investment advisory fees receivable on the consolidated statements of financial condition. Institutional research services includes commission revenues, sales manager fees and underwriting fees and amounts receivable are included in receivables from brokers and clearing organizations on the combined consolidated statements of financial condition. Related clearing charges are recorded on a trade-date basis, and are included in other operating expenses on the combined consolidated statements of income. Underwriting fees include underwriting revenues and syndicate profits and are accrued as earned. Underwriting fees include gains, losses, selling concessions and fees, net of syndicate expenses, arising from securities offerings in which the Company acts as underwriter or agent. Effective January 1, 2014, the Company, through G.research, entered into agreements with two affiliates, GAMCO Asset Management Inc. and Gabelli Funds, LLC, to provide each affiliate with the same types of research services that it provides to its other clients. The agreements call for the two affiliates to pay a research services fee. The annual fee amounts are determined by negotiations between the Company and each entity that utilizes the Company's research.
Depreciation	Depreciation Fixed assets are recorded at cost and depreciated using the straight-line method over their estimated useful lives of four to seven years. For the years ended December 31, 2015 and 2014, depreciation was $ and $, respectively, on fixed assets with a cost of $57,000 and $61,000, respectively, and a net book value of $19,000 and $30,000, respectively. We estimate that depreciation will be approximately $ annually over the next years. As of December 31, 2015 and 2014, the Company wrote off assets in the amount of $2,000 and $16,000, respectively, that were fully depreciated and had been retired.
Allocated Expenses	Allocated Expenses The Company is charged or incurs certain overhead expenses that are paid by, or paid on our behalf by other affiliates and are included in other operating expenses on the combined consolidated statements of income. These overhead expenses primarily relate to centralized functions including finance and accounting, legal, compliance, treasury, tax, internal audit, information technology, human resources and risk management functions. These overhead expenses are allocated to the Company by other affiliates or allocated by the Company to other affiliates as the expenses are incurred, based upon direct usage when identifiable, with the remainder allocated based on revenue, headcount, space or other methodologies periodically reviewed by the management of the Company and the affiliates. In addition, the Company serves as paymaster under a compensation payment sharing agreement. This includes compensation expense and related payroll taxes and benefits which are fully paid by the Company for professional staff performing duties related to the Company and affiliates. These compensation expenses are included in compensation on the combined consolidated statements of income. All of the allocations and estimates in these financial statements are based on assumptions that management of AC believes are reasonable. However, these allocations may not be indicative of the actual expenses we would have incurred or may incur in the future.
Management Fee	Management Fee Management fee expense in the amount of 10% of the aggregate pre-tax profits, before consideration of this fee and before consideration of the various consolidated feeder funds and partnerships, is paid to the Chairman or his designated assignees in accordance with his employment agreement.
Stock Based Compensation	Stock Based Compensation The Company maintains one Plan approved by the shareholders, which is designed to provide incentives which will attract and retain individual's key to the success of AC through direct or indirect ownership of our common stock. Benefits under the Plan may be granted in any one or a combination of stock options, stock appreciation rights, restricted stock, restricted stock units, stock awards, dividend equivalents and other stock or cash based awards. A maximum of 0.9 million shares of Class A Stock have been reserved for issuance under the Plans by a committee of the Board of Directors responsible for administering the Plans ("Compensation Committee"). Under the Plan, the committee may grant RSAs and either incentive or nonqualified stock options with a term not to exceed ten years from the grant date and at an exercise price that the committee may determine. On November 30, 2015, in connection with the Spin-off of the Company from GAMCO, the Company issued 554,100 AC RSA shares to GAMCO employees (including GAMCO employees who became AC employees) who held 554,100 GAMCO RSA shares at that date. The purpose of the issuance was to ensure that any employee who had GAMCO RSA's were granted an equal number of AC RSA's so that the total value of the RSA's post-spin-off was equivalent to the total value pre-spin-off. In accordance with GAAP, we have allocated the stock compensation costs between GAMCO and AC based upon each employee's individual allocation of their responsibilities between GAMCO and AC. As of December 31, 2015, there were 553,100 AC RSA shares outstanding. All grants of the RSA shares were recommended by the Company's Chairman, who did not receive a RSA, and approved by the Compensation Committee. This expense, net of estimated forfeitures, is recognized over the vesting period for these awards which is either (1) 30% over three years from the date of grant and 70% over five years from the date of grant or (2) 30% over three years from the date of grant and 10% each year over years four through ten from the date of grant. During the vesting period, dividends to RSA holders are held for them until the RSA vesting dates and are forfeited if the grantee is no longer employed by the Company on the vesting dates. Dividends declared on these RSAs, less estimated forfeitures, are charged to retained earnings on the declaration date.
Goodwill	Goodwill Goodwill is initially measured as the excess of the cost of the acquired business over the sum of the fair value assigned to assets acquired less the liabilities assumed. Goodwill is tested for impairment at least annually on November 30th and whenever certain triggering events are met. In assessing the recoverability of goodwill for the subsidiary's annual impairment test on November 30, 2015 and 2014, we performed a qualitative assessment of whether it was more likely than not that an impairment has occurred and concluded that a quantitative analysis was not required. As part of this assessment, it was also determined that there was no risk of failing the quantitative impairment testing step that compares the subsidiary fair value to its carrying value. No impairment was recorded during 2015.
Income Taxes	Income Taxes For purposes of the preparation of the combined consolidated financial statements, the Company accounts for income taxes as if it followed the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the combined consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income tax expense/benefit in the period that includes the enactment date of the change in tax rate. The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not be realized. A valuation allowance would be recorded to reduce the carrying value of deferred tax assets to the amount that is more likely than not to be realized. In making such a determination of whether a valuation allowance is necessary, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. In the event the Company were to determine that the Company would be able to realize the Company's deferred income tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions in accordance with Codification Topic 740 on the basis of a two-step process whereby (1) the Company determines whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is greater than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes the accrual of interest on uncertain tax positions and penalties in income tax provision on the combined consolidated statements of income. Accrued interest and penalties on uncertain tax positions are included within accrued expenses and other liabilities on the consolidated statements of financial condition.
Noncontrolling Interests	Noncontrolling Interests Noncontrolling interests that are mandatorily redeemable upon a certain date or event occurring are classified as liabilities and relate to certain stockholders of GSI who are employed by GAMCO, or its affiliates, who are required to sell their shares back to GSI at book value once they cease being employed by GAMCO, or its affiliates. Noncontrolling interests in investment partnerships and offshore funds that are redeemable at the option of the holder are classified as redeemable noncontrolling interests in the mezzanine section of the combined consolidated statements of financial condition between liabilities and equity. For the years ended December 31, 2015, and 2014, net income attributable to noncontrolling interests on the combined consolidated statements of income represents income attributable to certain limited partners of investment partnerships and offshore funds that are consolidated. The income attributable to the mandatorily redeemable noncontrolling interests classified as liabilities is included in other operating expenses on the combined consolidated statements of income.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and receivable from brokers. The Company maintains cash and cash equivalents primarily in the Gabelli U.S. Treasury Money Market Fund, which invests fully in instruments issued by the U.S. Government, and has receivables from brokers with various brokers and financial institutions, where these balances can exceed the federally insured limit. The concentration of credit risk with respect to advisory fees and incentive fees/allocation, which are included in receivables from affiliates on the combined consolidated statements of financial condition, is generally limited due to the short payment terms extended to clients by the Company. All investments in securities are held at third party brokers or custodians.
Net Transfer to/from Parent	Net transfer to /from Parent Net transfer to/from Parent in the combined consolidated financial statements represents the net effect of transactions with and allocations from GAMCO prior to the Spin-off.
Business Segment	Business Segment The Company operates in one business segment, the investment advisory and asset management business. The Company conducts its investment advisory business principally through GSI.
Recent Accounting Developments	Recent Accounting Developments In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers," which supersedes the revenue recognition requirements in the Accounting Standards Codification ("Codification") Topic 605, Revenue Recognition, and most industry-specific guidance throughout the industry topics of the Codification. The core principle of the new ASU No. 2014-09 is for companies to recognize revenue from the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard provides a five-step approach to be applied to all contracts with customers and also requires expanded disclosures about revenue recognition. The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods and is to be retrospectively applied. Early adoption is not permitted. The Company is currently evaluating this guidance and the impact it will have on its combined consolidated financial statements. In June 2014, the FASB issued an accounting update clarifying that entities should treat performance targets that could be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. Therefore, an entity would not record compensation expense (measured as of the grant date) for an award where transfer to the employee is contingent upon satisfaction of the performance target until it becomes probable that the performance target will be met. The guidance is effective for the Company beginning January 1, 2016. Early adoption is permitted. This guidance is not expected to have a material impact on the Company's combined consolidated financial statements. In February 2015, the FASB issued an accounting update amending the consolidation requirements under GAAP. This guidance is effective for the Company beginning January 1, 2016. The Company is currently evaluating this guidance and the impact it will have on its combined consolidated financial statements. In January 2016, the FASB issued an accounting update amending the guidance on the classification and measurement of financial instruments. This amended guidance significantly revises an entity's accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. This guidance is effective for the Company beginning January 1, 2018. The Company is currently evaluating this guidance and the impact it will have on its combined consolidated financial statements.

Investment in Securities (Table

Investment in Securities (Tables)	12 Months Ended
	Dec. 31, 2015
Investment in Securities [Abstract]
Investments in Securities	Investments in securities at December 31, 2015 and 2014 consisted of the following: 2015 2014 Cost Fair Value Cost Fair Value (In thousands) Trading securities: Government obligations $ 99,897 $ 99,940 $ 18,994 $ 18,996 Common stocks 78,974 92,194 170,977 195,029 Mutual funds 2,578 3,216 2,432 3,498 Other investments 570 771 743 1,704 Total trading securities 182,019 196,121 193,146 219,227 Available for sale securities: Common stocks 150,000 136,360 - - Mutual funds 627 1,143 681 1,368 Total available for sale securities 150,627 137,503 681 1,368 Total investments in securities $ 332,646 $ 333,624 $ 193,827 $ 220,595
Securities Sold, Not Yet Purchased	Securities sold, not yet purchased at December 31, 2015 and 2014 consisted of the following: 2015 2014 Cost Fair Value Cost Fair Value (In thousands) Trading securities: Common stocks $ 10,095 $ 9,537 $ 9,835 $ 9,960 Other investments 24 86 1 635 Total securities sold, not yet purchased $ 10,119 $ 9,623 $ 9,836 $ 10,595
Investments in Affiliated Registered Investment Companies	Investments in affiliated registered investment companies at December 31, 2015 and 2014 consisted of the following: 2015 2014 Cost Fair Value Cost Fair Value (In thousands) Trading securities: Mutual funds $ 40,097 $ 43,133 $ 1 $ 1 Total trading securities 40,097 43,133 1 1 Available for sale securities: Closed-end funds 62,070 72,591 21,962 36,323 Mutual funds 1,846 2,952 1,898 3,213 Total available for sale securities 63,916 75,543 23,860 39,536 Total investments in affiliated registered investment companies $ 104,013 $ 118,676 $ 23,861 $ 39,537
Reclassifications Out of Accumulated Other Comprehensive Income	The following table identifies all reclassifications out of accumulated other comprehensive income ("AOCI") and into net income/(loss) for the year ended December 31, 2015 and 2014 (in thousands): Amount Affected Line Item Reason for Reclassified in the Statements Reclassification from AOCI of Income from AOCI Twelve months ended December 31, 2015 2014 $ 25 $ 2,978 Net gain/(loss) from investments Realized gains on sale of AFS securities - 54 Other operating expenses Donation of AFS securities (216 ) (69 ) Net gain/(loss) from investments Other than temporary impairment of AFS securities (191 ) 2,963 Income/(loss) before income taxes 69 (1,096 ) Income tax provision/(benefit) $ (122 ) $ 1,867 Net income/(loss)
Schedule of Fair Values and Gains and Losses of All Derivatives and Foreign Currency Positions	The following tables identify the fair values and gains and losses of all derivatives and foreign currency positions held by the Company (in thousands): Asset Derivatives Liability Derivatives Statement of Fair Value Statement of Fair Value Financial Condition December 31, December 31, Financial Condition December 31, December 31, Location 2015 2014 Location 2015 2014 Derivatives designated as hedging instruments under FASB ASC 815-20 Foreign exchange contracts Receivable from brokers $ - $ - Payable to brokers $ 37,584 $ - Sub total $ - $ - $ 37,584 $ - Derivatives not designated as hedging instruments under FASB ASC 815-20 Equity contracts Investments in Securities sold, securities $ 236 $ 896 not yet purchased $ 86 $ 635 Foreign exchange contracts Receivable from brokers - - Payable to brokers 5,017 5,470 Sub total $ 236 $ 896 $ 5,103 $ 6,105 Total derivatives $ 236 $ 896 $ 42,687 $ 6,105
Schedule of Derivative Instruments, Gain (Loss)	Type of Derivative Income Statement Location Year ended December 31, 2015 2014 Foreign exchange contracts Net gain/(loss) from investments $ 2,456 $ 792 Equity contracts Net gain/(loss) from investments 264 729 Total $ 2,720 $ 1,521
Master Netting Arrangements for Swaps	The Company is a party to enforceable master netting arrangements for swaps entered into as part of the Company's investment strategy. They are typically not used as hedging instruments. These swaps, while settled on a net basis with the counterparties, major U.S. financial institutions, are shown gross in assets and liabilities on the consolidated statements of financial condition. The swaps have a firm contract end date and are closed out and settled when each contract expires. Gross Amounts Not Offset in the Statements of Financial Condition Gross Gross Amounts Net Amounts of Amounts of Offset in the Assets Presented Recognized Statements of in the Statements of Financial Cash Collateral Assets Financial Condition Financial Condition Instruments Received Net Amount Swaps: (In thousands) December 31, 2015 $ 177 $ - $ 177 $ (81 ) $ - $ 96 December 31, 2014 $ 896 $ - $ 896 $ (634 ) $ - $ 262 Gross Amounts Not Offset in the Statements of Financial Condition Gross Gross Amounts Net Amounts of Amounts of Offset in the Liabilities Presented Recognized Statements of in the Statements of Financial Cash Collateral Liabilities Financial Condition Financial Condition Instruments Pledged Net Amount Swaps: (In thousands) December 31, 2015 $ 81 $ - $ 81 $ (81 ) $ - $ - December 31, 2014 $ 634 $ - $ 634 $ (634 ) $ - $ -
Summary of Available-for-Sale Securities	The following is a summary of the cost, gross unrealized gains, gross unrealized losses and fair value of AFS investments as of December 31, 2015 and 2014: December 31, 2015 Gross Gross Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Common stocks $ 150,000 $ - $ (13,640 ) $ 136,360 Closed-end Funds 62,070 11,299 (778 ) 72,591 Mutual funds 2,472 1,641 (18 ) 4,095 Total available for sale securities $ 214,542 $ 12,940 $ (14,436 ) $ 213,046 December 31, 2014 Gross Gross Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Closed-end Funds $ 21,962 $ 14,398 $ (37 ) $ 36,323 Mutual funds 2,579 2,030 (28 ) 4,581 Total available for sale securities $ 24,541 $ 16,428 $ (65 ) $ 40,904 Increases in unrealized losses, net of taxes, for AFS securities for the years ended December 31, 2015 and 2014 of $11.2 million and $0.6 million, respectively, have been included in other comprehensive income at December 31, 2015 and 2014, respectively.
Investments Classified as Available for Sale in Unrealized Loss Position	Investments classified as AFS that are in an unrealized loss position for which other-than-temporary impairment has not been recognized consisted of the following: December 31, 2015 December 31, 2014 Unrealized Unrealized Cost Losses Fair Value Cost Losses Fair Value (in thousands) Common Stocks $ 150,000 $ (13,640 ) $ 136,360 $ - $ - $ - Closed-end Funds 40,627 (778 ) 39,849 812 (37 ) 775 Mutual Funds 244 (18 ) 226 303 (28 ) 275 Total avalable for sale securities $ 190,871 $ (14,436 ) $ 176,435 $ 1,115 $ (65 ) $ 1,050

Investment in Partnerships, O27

Investment in Partnerships, Offshore Funds and Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2015
Investment in Partnerships, Offshore Funds and Variable Interests [Abstract]
Schedule of Number of Entities Consolidated	The following table highlights the number of entities, including VOEs, that we consolidate as well as under which accounting guidance they are consolidated, including CFFs, which retain their specialized investment company accounting, and partnerships and offshore funds which we consolidate as described in Note B. Entities consolidated CFFs Partnerships Offshore Funds Total VIEs VOEs VIEs VOEs VIEs VOEs VIEs VOEs Entities consolidated at December 31, 2012 1 2 - 1 - 1 1 4 Additional consolidated entities - - - - - - - - Deconsolidated entities - - - - - - - - Entities consolidated at December 31, 2013 1 2 - 1 - 1 1 4 Additional consolidated entities - - - - - - - - Deconsolidated entities - - - - - - - - Entities consolidated at December 31, 2014 1 2 - 1 - 1 1 4 Additional consolidated entities - 1 - 1 1 - 1 2 Deconsolidated entities - (1 ) - - - (1 ) - (2 ) Entities consolidated at December 31, 2015 1 2 - 2 1 - 2 4
Investment in Partnerships by Accounting Method	The following table breaks down the investments in partnerships line by accounting method, either fair value or equity method, and investment type (in thousands): December 31, 2015 Investment Type Affiliated Unaffiliated Consolidated Accounting method Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 13,953 $ - $ - $ - $ - $ 13,953 Equity Method - 39,552 35,746 7,911 7,889 91,098 Total $ 13,953 $ 39,552 $ 35,746 $ 7,911 $ 7,889 $ 105,051 December 31, 2014 Investment Type Affiliated Unaffiliated Consolidated Accounting method Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 23,815 $ - $ - $ - $ - $ 23,815 Equity Method - 34,382 36,033 6,552 6,864 83,831 Total $ 23,815 $ 34,382 $ 36,033 $ 6,552 $ 6,864 $ 107,646
Condensed Consolidated Statements of Financial Condition by Entity Consolidated	The following table includes the net impact by line item on the consolidated statements of financial condition for each category of entity consolidated: December 31, 2015 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Assets Cash and cash equivalents $ 205,708 $ - $ 41 $ 1 $ 205,750 Investments in securities 444,368 - 7,849 83 452,300 Investments in partnerships 109,274 4,506 (8,729 ) - 105,051 Receivable from brokers 53,921 - 2,164 425 56,510 Investment advisory fees receivable 4,881 2 5 8 4,896 Other assets 12,614 5 15 (393 ) 12,241 Total assets $ 830,766 $ 4,513 $ 1,345 $ 124 $ 836,748 Liabilities and equity Securities sold, not yet purchased $ 9,505 $ - $ 118 $ - $ 9,623 Accrued expenses and other liabilities 69,712 28 79 19 69,838 Redeemable noncontrolling interests - 4,485 1,148 105 5,738 Total equity 751,549 - - - 751,549 Total liabilities and equity $ 830,766 $ 4,513 $ 1,345 $ 124 $ 836,748 December 31, 2014 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Assets Cash and cash equivalents $ 285,455 $ (11 ) $ 86 $ - $ 285,530 Investments in securities 201,038 - 7,801 51,293 260,132 Investments in partnerships 111,389 4,438 (8,181 ) - 107,646 Receivable from brokers 22,629 - 623 51,155 74,407 Investment advisory fees receivable 4,375 (6 ) (2 ) (222 ) 4,145 Other assets 22,683 - - 151 22,834 Total assets $ 647,569 $ 4,421 $ 327 $ 102,377 $ 754,694 Liabilities and equity Securities sold, not yet purchased $ 9,991 $ - $ - $ 604 $ 10,595 Accrued expenses and other liabilities 54,651 22 24 38,141 92,838 Redeemable noncontrolling interests - 4,399 303 63,632 68,334 Total equity 582,927 - - - 582,927 Total liabilities and equity $ 647,569 $ 4,421 $ 327 $ 102,377 $ 754,694 The CFFs, Partnerships and Offshore Funds columns above include only affiliated entities as no unaffiliated entities are consolidated.
Condensed Consolidated Statements of Income by Entity Consolidated	The following table includes the net impact by line item on the combined consolidated statements of income for each category of entity consolidated (in thousands): Twelve Months Ended December 31, 2015 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Total revenues $ 22,883 $ (34 ) $ (7 ) $ - $ 22,842 Total expenses 36,963 114 71 6 37,154 Operating income (14,080 ) (148 ) (78 ) (6 ) (14,312 ) Total other income (expense), net 11,967 (170 ) (69 ) 8 11,736 Income before income taxes (2,113 ) (318 ) (147 ) 2 (2,576 ) Income tax provision (1,685 ) - - - (1,685 ) Net income before NCI (428 ) (318 ) (147 ) 2 (891 ) Net income attributable to noncontrolling interests (317 ) (318 ) (147 ) 2 (780 ) Net income $ (111 ) $ - $ - $ - $ (111 ) Twelve Months Ended December 31, 2014 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Total revenues $ 22,027 $ (28 ) $ (3 ) $ (967 ) $ 21,029 Total expenses 29,920 62 44 927 30,953 Operating income (7,893 ) (90 ) (47 ) (1,894 ) (9,924 ) Total other income (expense), net 11,668 13 50 (2,189 ) 9,542 Income before income taxes 3,775 (77 ) 3 (4,083 ) (382 ) Income tax provision 775 - - - 775 Net income before NCI 3,000 (77 ) 3 (4,083 ) (1,157 ) Net income attributable to noncontrolling interests - (77 ) 3 (4,083 ) (4,157 ) Net income $ 3,000 $ - $ - $ - $ 3,000 The CFFs, Partnerships and Offshore Funds columns above include only affiliated entities as no unaffiliated entities are consolidated.
GAMCO's Net Interest in Consolidated VIEs	The assets of these VIEs may only be used to satisfy obligations of the VIEs. The following table presents the balances related to these VIEs that are consolidated and were included on the consolidated statements of financial condition as well as the Company's net interest in these VIEs. Only one VIE is consolidated at both December 31, 2015 and December 31, 2014: December 31, December 31, 2015 2014 (In thousands) Cash and cash equivalents $ 1 $ - Investments in securities 83 - Investments in partnerships 4,791 13,434 Receivable from broker 425 - Payable to brokers (6 ) - Accrued expenses and other liabilities (404 ) (12 ) Redeemable noncontrolling interests (350 ) (794 ) AC's net interests in consolidated VIE $ 4,540 $ 12,628 Equity Method Investments
Schedule of Equity Method Investments	The summarized financial information of the Company's equity method investments for December 31, 2015 and 2014 are as follows: December 31, December 31, 2015 2014 (In millions) Total assets $ 2,414 $ 2,436 Total liabilities 301 293 Total equity 2,113 2,143 For the year 2015 2014 Net income/(loss) (18 ) 49

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present information about the Company's assets and liabilities by major categories measured at fair value on a recurring basis as of December 31, 2015 and 2014 and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value: Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2015 (in thousands) Quoted Prices in Active Significant Other Significant Balance as of Markets for Identical Observable Unobservable December 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2015 Cash equivalents $ 205,733 $ - $ - $ 205,733 Investments in partnerships - 13,953 - 13,953 Investments in securities: AFS - Common stocks 136,360 - - 136,360 AFS - Mutual funds 1,143 - - 1,143 Trading - Gov't obligations 99,940 - - 99,940 Trading - Common stocks 91,686 - 508 92,194 Trading - Mutual funds 3,216 - - 3,216 Trading - Other 230 236 305 771 Total investments in securities 332,575 236 813 333,624 Investments in sponsored registered investment companies: AFS - Closed-end Funds 72,591 - - 72,591 AFS - Mutual Funds 2,952 - - 2,952 Trading - Mutual funds 43,133 - - 43,133 Total investments in sponsored registered investment companies 118,676 - - 118,676 Total investments 451,251 14,189 813 466,253 Total assets at fair value $ 656,984 $ 14,189 $ 813 $ 671,986 Liabilities Trading - Common stocks $ 9,537 $ - $ - $ 9,537 Trading - Other - 86 - 86 Securities sold, not yet purchased $ 9,537 $ 86 $ - $ 9,623 Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2014 (in thousands) Quoted Prices in Active Significant Other Significant Balance as of Markets for Identical Observable Unobservable December 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2014 Cash equivalents $ 285,504 $ - $ - $ 285,504 Investments in partnerships - 23,803 - 23,803 Investments in securities: AFS - Mutual funds 1,368 - - 1,368 Trading - Gov't obligations 18,996 - - 18,996 Trading - Common stocks 193,735 1 1,293 195,029 Trading - Mutual funds 3,498 - - 3,498 Trading - Other 513 897 294 1,704 Total investments in securities 218,110 898 1,587 220,595 Investments in sponsored registered investment companies: AFS - Closed-end Funds 36,323 - - 36,323 AFS - Mutual Funds 3,213 - - 3,213 Trading - Mutual funds 1 - - 1 Total investments in sponsored registered investment companies 39,537 - - 39,537 Total investments 257,647 24,701 1,587 283,935 Total assets at fair value $ 543,151 $ 24,701 $ 1,587 $ 569,439 Liabilities Trading - Common stocks $ 9,960 $ - $ - $ 9,960 Trading - Other - 635 - 635 Securities sold, not yet purchased $ 9,960 $ 635 $ - $ 10,595
Changes in Level 3 Assets and Liabilities	The following table presents additional information about assets by major categories measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value. Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis for the year ended December 31, 2015 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December Unrealized Gains or Included in and Transfers 31, 2014 (Losses) in Income Other Unrealized In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 1,293 $ (195 ) $ - $ - $ (195 ) $ 6 $ (238 ) $ (358 ) $ 508 Trading - Other 294 98 - - 98 5 (80 ) (12 ) 305 Total $ 1,587 $ (97 ) $ - $ - $ (97 ) $ 11 $ (318 ) $ (370 ) $ 813 Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis for the year ended December 31, 2014 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December Unrealized Gains or Included in and Transfers 31, 2013 (Losses) in Income Other Unrealized In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 700 $ 41 $ - $ - $ 41 $ - $ (343 ) $ 895 $ 1,293 Trading - Other 284 - - - - 10 - - 294 Total $ 984 $ 41 $ - $ - $ 41 $ 10 $ (343 ) $ 895 $ 1,587

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Taxes [Abstract]
Provision for Income Taxes	The provision for income taxes for the years ended December 31, 2015 and 2014 consisted of the following: 2015 2014 (In thousands) Federal: Current $ 4,540 $ 5,775 Deferred (6,160 ) (5,003 ) State and local: Current 225 39 Deferred (290 ) (36 ) Total $ (1,685 ) $ 775
Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate	A reconciliation of the Federal statutory rate to the effective tax rate is set forth below: 2015 2014 Statutory Federal income tax rate 34.0 % 35.0 % State income tax, net of Federal benefit 1.6 (0.5 ) Dividends received deduction 26.4 133.0 Donation of appreciated securities 3.2 13.5 Noncontrolling interests 0.0 (377.0 ) Other 0.2 (6.9 ) Effective income tax rate 65.4 % (202.9 )%
Components of Deferred Tax Assets and Liabilities	Significant components of our deferred tax assets and liabilities are as follows: 2015 2014 (In thousands) Deferred tax assets: Stock compensation expense $ 77 $ 847 Deferred compensation 871 835 Investments in securities available for sale 5,523 - Other - 193 Total deferred tax assets 6,471 1,875 Deferred tax liabilities: Investments in securities available for sale - (1,510 ) Investments in securities and partnerships (9,839 ) (14,911 ) Deferred gain - (2,000 ) Other liabilities (41 ) (34 ) Total deferred tax liabilities (9,880 ) (18,455 ) Net deferred tax liabilities $ (3,409 ) $ (16,580 )
Gross Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of gross unrecognized tax benefits related to uncertain tax positions is as follows: (in thousands) Balance at January 1, 2014 $ 92.7 Additions based on tax positions related to the current year (34.2 ) Additions for tax positions of prior years - Reductions for tax positions of prior years (1.4 ) Settlements - Balance at December 31, 2014 57.1 Additions based on tax positions related to the current year (59.7 ) Additions for tax positions of prior years - Reductions for tax positions of prior years (1.9 ) Settlements (11.2 ) Balance at December 31, 2015 $ (15.7 )

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	12 Months Ended
	Dec. 31, 2015
Stockholder's Equity [Abstract]
Total Projected Compensation Costs Related to Non-Vested Awards Not Yet Recognized	The total compensation costs related to non-vested awards not yet recognized is approximately $7.0 million as of December 31, 2015. This will be recognized as expense in the following periods (in thousands): 2016 2017 2018 2019 2020 $ 2,270 $ 1,691 $ 1,115 $ 924 $ 423 2021 2022 2023 2024 $ 282 $ 172 $ 75 $ 13

Gabelli Securities, Inc. (Table

Gabelli Securities, Inc. (Tables)	12 Months Ended
	Dec. 31, 2015
Gabelli Securities, Inc. [Abstract]
Consolidated Statements of Financial Condition of GSI	The Company owns a 93.9% interest in GSI. Certain employees of the Company or its affiliates own 1.9% of GSI, and the remaining 4.2% of GSI is owned by investors unrelated to the Company. Stockholders who are employees of the Company or its affiliates must sell their shares to GSI at the book value per share of the previous fiscal year end when they leave the firm. The book value per share of GSI was $88.64 and $102.18 at December 31, 2015 and 2014, respectively. Below are the consolidated statements of financial condition of GSI at December 31, 2015 and 2014, respectively. December 31, December 31, 2015 2014 ASSETS Cash and cash equivalents $ 13,153 $ 7,987 Investments in securities (Including GAMCO stock with a market value of $136.4 million and $0 at December 31, 2015 and December 31, 2014, respectively) 151,995 14,756 Investments in partnerships 75,427 84,992 Receivable from brokers and clearing organizations 4,273 4,175 Receivable from affiliates 3,789 3,522 Income taxes receivable from parent 250 247 Distribution fees receivable - 44 Incentive fees receivable 1,391 836 Fixed assets 19 30 Goodwill 3,254 3,254 Other assets 939 2,203 Total assets $ 254,490 $ 122,046 LIABILITIES AND EQUITY Compensation payable $ 7,410 $ 6,506 Note payable to parent 150,000 - Income taxes payable 2,050 7,738 Distribution costs payable 407 813 Securities sold, not yet purchased 118 - Payables to affiliates 24,341 20,713 Mandatorily redeemable shares (12,741 shares outstanding) 1,129 1,302 Accrued expenses and other liabilities 682 581 Total liabilities 186,137 37,653 Redeemable noncontrolling interests 9,948 17,070 Equity: Common stock, $0.01 par value; 1,250,000 shares authorized; 726,953 issued; and 658,875 outstanding 7 7 Additional paid-in capital 22,869 20,786 Retained earnings 43,644 45,482 Accumulated other comprehensive income (loss) (8,115 ) 1,048 Total Gabelli Securities, Inc. stockholders' equity 58,405 67,323 Total liabilities and equity $ 254,490 $ 122,046

Quarterly Financial Informati32

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information (Unaudited) [Abstract]
Schedule of Quarterly Financial Information	Quarterly financial information for the years ended December 31, 2015 and 2014 is presented below. 2015 1st 2nd 3rd 4th Total (In thousands, except per share data) Revenues $ 4,567 $ 4,590 $ 4,690 $ 8,995 $ 22,842 Operating loss (3,880 ) (3,468 ) (1,081 ) (5,883 ) (14,312 ) Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders 2,385 855 (7,540 ) 4,189 (111 ) Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders per share: Basic $ 0.09 $ 0.03 $ (0.30 ) $ 0.17 $ - Diluted $ 0.09 $ 0.03 $ (0.30 ) $ 0.17 $ - 2014 1st 2nd 3rd 4th Total Revenues $ 3,904 $ 4,553 $ 4,895 $ 7,677 $ 21,029 Operating loss (3,278 ) (3,645 ) (748 ) (2,253 ) (9,924 ) Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders 422 4,015 (3,783 ) 2,346 3,000 Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders per share: Basic $ 0.02 $ 0.16 $ (0.15 ) $ 0.09 $ 0.12 Diluted $ 0.02 $ 0.16 $ (0.15 ) $ 0.09 $ 0.12

Organization and Spin-off Tra33

Organization and Spin-off Transaction (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Installmentshares	Nov. 30, 2015	Nov. 27, 2015USD ($)
GAMCO Note [Member]
Class of Stock [Line Items]
Debt instrument, principal amount	$ 250
Debt instrument, interest rate	4.00%
Debt instrument, maturity date	Nov. 30, 2020
Number of equal annual installments in repayment of debt | Installment	5
Amount of annual principal payment	$ 50
GSI Note [Member]
Class of Stock [Line Items]
Debt instrument, principal amount	$ 150		$ 150
Debt instrument, interest rate	4.00%
GSI [Member]
Class of Stock [Line Items]
Percentage of ownership interest held by the entity	93.90%
GSI [Member] | Certain Employees of GAMCO [Member]
Class of Stock [Line Items]
Percentage of minority ownership interest	1.90%
GSI [Member] | Unrelated Individual Investors [Member]
Class of Stock [Line Items]
Percentage of minority ownership interest	4.20%
GAMCO [Member]
Class of Stock [Line Items]
Percentage of ownership interest held by the entity		93.90%
GAMCO [Member] | Class A [Member]
Class of Stock [Line Items]
Number of shares of common stock purchased (in shares) | shares	4,393,055

Significant Accounting Polici34

Significant Accounting Policies (Details)	Nov. 30, 2015shares	Dec. 31, 2015USD ($)AffiliatePlanSegmentshares	Dec. 31, 2014USD ($)shares
Fair Value of Financial Instruments [Abstract]
Notice period to redeem investments in funds		P30D
Investments in Partnerships and Affiliates [Abstract]
Percentage of offshore master funds owned by CFF		100.00%
Maximum threshold percentage of ownership interest for recording noncontrolling interests in consolidated entities		100.00%
Derivative Financial Instruments [Abstract]
Net gain (loss) on foreign currency derivatives		$ 264,000	$ 729,000
Equity shares under derivative contracts (in shares) | shares		300,000	3,800,000
Fair value of foreign currency contracts		$ 149,000	$ 262,000
Major Revenue-Generating Services and Revenue Recognition [Abstract]
Percentage of fee of economic profit as defined in partnership agreement		20.00%
Number of affiliates with which the Company entered into agreements to provide research services | Affiliate		2
Property, Plant and Equipment [Line Items]
Depreciation		$ 13,000	14,000
Fixed assets at cost		57,000	61,000
Fixed assets with net book value		19,000	30,000
Estimated annual depreciation		$ 13,000
Period of estimate for future depreciation		3 years
Write off of fixed assets		$ 2,000	$ 16,000
Management Fee [Abstract]
Management fee expense percentage		10.00%
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of plans approved by shareholders | Plan		1
Stock options term		10 years
Business Segment [Abstract]
Number of operating segments | Segment		1
Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance | shares		900,000
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of assets		4 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of assets		7 years
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of shares | shares	554,100
Shares outstanding (in shares) | shares		553,100
Restricted Stock Awards [Member] | GAMCO [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of shares | shares	554,100
Shares outstanding (in shares) | shares		553,100	710,750
Restricted Stock Awards [Member] | Vesting in Three Years from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		30.00%
Award vesting period		3 years
Restricted Stock Awards [Member] | Vesting in Five Years from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		70.00%
Award vesting period		5 years
Restricted Stock Awards [Member] | Vesting in Year Four from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Five from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Six from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Seven from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Eight from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Nine from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Ten from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		10.00%

Investment in Securities, Inves

Investment in Securities, Investment in Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Available for sale securities [Abstract]
Cost	$ 214,542	$ 24,541
Fair value	213,046	40,904
Total investments in securities [Abstract]
Cost	332,646	193,827
Fair value	333,624	220,595
Common Stocks [Member]
Available for sale securities [Abstract]
Cost	150,000
Fair value	136,360
Mutual Funds [Member]
Available for sale securities [Abstract]
Cost	2,472	2,579
Fair value	4,095	4,581
Investment in Securities [Member] | Trading Securities [Member]
Trading securities [Abstract]
Cost	182,019	193,146
Fair value	196,121	219,227
Investment in Securities [Member] | Trading Securities [Member] | Government Obligations [Member]
Trading securities [Abstract]
Cost	99,897	18,994
Fair value	99,940	18,996
Investment in Securities [Member] | Trading Securities [Member] | Common Stocks [Member]
Trading securities [Abstract]
Cost	78,974	170,977
Fair value	92,194	195,029
Investment in Securities [Member] | Trading Securities [Member] | Mutual Funds [Member]
Trading securities [Abstract]
Cost	2,578	2,432
Fair value	3,216	3,498
Investment in Securities [Member] | Trading Securities [Member] | Other Investments [Member]
Trading securities [Abstract]
Cost	570	743
Fair value	771	1,704
Investment in Securities [Member] | Available for Sale Securities [Member]
Available for sale securities [Abstract]
Cost	150,627	681
Fair value	137,503	1,368
Investment in Securities [Member] | Available for Sale Securities [Member] | Common Stocks [Member]
Available for sale securities [Abstract]
Cost	150,000	0
Fair value	136,360	0
Investment in Securities [Member] | Available for Sale Securities [Member] | Mutual Funds [Member]
Available for sale securities [Abstract]
Cost	627	681
Fair value	$ 1,143	$ 1,368

Investment in Securities, Secur

Investment in Securities, Securities Sold, Not Yet Purchased (Details) - Investment in Securities [Member] - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Trading securities [Abstract]
Cost	$ 10,119	$ 9,836
Fair value	9,623	10,595
Trading Securities [Member] | Common Stocks [Member]
Trading securities [Abstract]
Cost	10,095	9,835
Fair value	9,537	9,960
Trading Securities [Member] | Other Investments [Member]
Trading securities [Abstract]
Cost	24	1
Fair value	$ 86	$ 635

Investment in Securities, Inv37

Investment in Securities, Investment in Affiliated Registered Investment Companies (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Available for sale securities [Abstract]
Cost	$ 214,542	$ 24,541
Fair value	213,046	40,904
Total investments in affiliated registered investment companies [Abstract]
Cost	104,013	23,861
Fair value	118,676	39,537
Closed-end Funds [Member]
Available for sale securities [Abstract]
Cost	62,070	21,962
Fair value	72,591	36,323
Mutual Funds [Member]
Available for sale securities [Abstract]
Cost	2,472	2,579
Fair value	4,095	4,581
Investment in Affiliated Registered Investment Companies [Member] | Trading Securities [Member]
Trading securities [Abstract]
Cost	40,097	1
Fair value	43,133	1
Investment in Affiliated Registered Investment Companies [Member] | Trading Securities [Member] | Mutual Funds [Member]
Trading securities [Abstract]
Cost	40,097	1
Fair value	43,133	1
Investment in Affiliated Registered Investment Companies [Member] | AFS Investments [Member]
Available for sale securities [Abstract]
Cost	63,916	23,860
Fair value	75,543	39,536
Investment in Affiliated Registered Investment Companies [Member] | AFS Investments [Member] | Closed-end Funds [Member]
Available for sale securities [Abstract]
Cost	62,070	21,962
Fair value	72,591	36,323
Investment in Affiliated Registered Investment Companies [Member] | AFS Investments [Member] | Mutual Funds [Member]
Available for sale securities [Abstract]
Cost	1,846	1,898
Fair value	$ 2,952	$ 3,213

Investment in Securities, Recla

Investment in Securities, Reclassifications Out of Accumulated Other Comprehensive Income into Income (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)Contractshares	Dec. 31, 2014USD ($)Contractshares
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain/(loss) from investments	$ 8,276	$ 6,502
Other operating expenses	6,189	6,771
Income/(loss) before income taxes	(2,576)	(382)
Income tax provision/(benefit)	1,685	(775)
Net loss	$ (891)	$ (1,157)
Shares under derivative contract (in shares) | shares	250,000	3,800,000
Number of foreign exchange contracts | Contract	2	1
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income/(loss) before income taxes	$ (191)	$ 2,963
Income tax provision/(benefit)	69	(1,096)
Net loss	(122)	1,867
Realized Gains on Sale of AFS Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain/(loss) from investments	25	2,978
Donation of AFS Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other operating expenses	0	54
Other-than-Temporary Impairment of AFS Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain/(loss) from investments	$ (216)	$ (69)

Investment in Securities, Fair

Investment in Securities, Fair Values and Gains and Losses of All Derivatives Held (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	$ 236	$ 896
Liability derivatives fair value	42,687	6,105
Derivative Instruments, Gain (Loss) [Line Items]
Net gain/(loss) on derivative	2,720	1,521
Net Gain/(Loss) from Investments [Member] | Foreign Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gain/(loss) on derivative	2,456	792
Net Gain/(Loss) from Investments [Member] | Equity Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gain/(loss) on derivative	264	729
Derivatives Designated as Hedging Instruments under FASB ASC 815-20 [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	0	0
Liability derivatives fair value	37,584	0
Derivatives Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Receivable from Brokers [Member] | Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	0	0
Derivatives Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Payable to Brokers [Member] | Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives fair value	37,584	0
Derivatives Not Designated as Hedging Instruments under FASB ASC 815-20 [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	236	896
Liability derivatives fair value	5,103	6,105
Derivatives Not Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Receivable from Brokers [Member] | Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	0	0
Derivatives Not Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Payable to Brokers [Member] | Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives fair value	5,017	5,470
Derivatives Not Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Investments in Securities [Member] | Equity Contracts [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	236	896
Derivatives Not Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Securities Sold, Not yet Purchased [Member] | Equity Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives fair value	$ 86	$ 635

Investment in Securities, Maste

Investment in Securities, Master Netting Arrangements for Swaps (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Offsetting derivative assets [Abstract]
Gross amounts of recognized assets	$ 236	$ 896
Swaps [Member]
Offsetting derivative assets [Abstract]
Gross amounts of recognized assets	177	896
Gross amounts offset in the statements of financial position	0	0
Net amounts of assets presented in the statements of financial position	177	896
Gross amounts not offset in the statements of financial position, assets [Abstract]
Financial instruments	(81)	(634)
Cash collateral received	0	0
Net amount	96	262
Offsetting derivative liabilities [Abstract]
Gross amounts of recognized liabilities	81	634
Gross amounts offset in the statements of financial position	0	0
Net amounts of liabilities presented in the statements of financial position	81	634
Gross amounts not offset in the statements of financial position, liabilities [Abstract]
Financial instruments	(81)	(634)
Cash collateral pledged	0	0
Net amount	$ 0	$ 0

Investment in Securities, Summa

Investment in Securities, Summary of Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Available-for-sale Securities, fair value to amortized cost basis [Abstract]
Cost	$ 214,542,000	$ 24,541,000
Gross unrealized gains	12,940,000	16,428,000
Gross unrealized losses	(14,436,000)	(65,000)
Fair value	213,046,000	40,904,000
Unrealized changes to fair value net of taxes included in other comprehensive income	(11,200,000)	(600,000)
Amount reclassified from other comprehensive income	100,000	(1,900,000)
Return of capital on available for sale securities	524,000	519,000
Proceeds from sale of investment available for sale	1,013,000	4,748,000
Gross realized gains on sale of investments available for sale	25,000	3,000,000
Gross realized losses on sale of investments available for sale	0	0
Common Stocks [Member]
Available-for-sale Securities, fair value to amortized cost basis [Abstract]
Cost	150,000,000
Gross unrealized gains	0
Gross unrealized losses	(13,640,000)
Fair value	136,360,000
Closed-end Funds [Member]
Available-for-sale Securities, fair value to amortized cost basis [Abstract]
Cost	62,070,000	21,962,000
Gross unrealized gains	11,299,000	14,398,000
Gross unrealized losses	(778,000)	(37,000)
Fair value	72,591,000	36,323,000
Mutual Funds [Member]
Available-for-sale Securities, fair value to amortized cost basis [Abstract]
Cost	2,472,000	2,579,000
Gross unrealized gains	1,641,000	2,030,000
Gross unrealized losses	(18,000)	(28,000)
Fair value	$ 4,095,000	$ 4,581,000

Investment in Securities, Inv42

Investment in Securities, Investments Classified as Available for Sale in Unrealized Loss Position (Details)	12 Months Ended
	Dec. 31, 2015USD ($)Investment	Dec. 31, 2014USD ($)Investment
Investments classified as available for sale unrealized loss position [Abstract]
Cost	$ 190,871,000	$ 1,115,000
Unrealized losses	(14,436,000)	(65,000)
Fair value	$ 176,435,000	$ 1,050,000
Number of investment holdings in loss positions | Investment	6	4
Other than temporary impairment losses, investments, available-for-sale securities	$ 216,000	$ 69,000
Investment Holding One [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Number of investment holdings in loss positions | Investment	2	1
Investment holding impairment period	1 month	1 month
Investment Holding Two [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Number of investment holdings in loss positions | Investment	1	1
Investment holding impairment period	6 months	3 months
Investment Holding Three [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Number of investment holdings in loss positions | Investment	2	2
Investment holding impairment period	7 months	4 months
Investment Holding Four [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Investment holding impairment period	1 month
Common Stocks [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Cost	$ 150,000,000	$ 0
Unrealized losses	(13,640,000)	0
Fair value	136,360,000	0
Closed-end Funds [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Cost	40,627,000	812,000
Unrealized losses	(778,000)	(37,000)
Fair value	39,849,000	775,000
Mutual Funds [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Cost	244,000	303,000
Unrealized losses	(18,000)	(28,000)
Fair value	$ 226,000	$ 275,000

Investment in Partnerships, O43

Investment in Partnerships, Offshore Funds and Variable Interest Entities, Breakdown of Consolidated Entities and Investments in Partnerships Line by Accounting Method (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)Entity	Dec. 31, 2014USD ($)Entity	Dec. 31, 2013Entity
Variable Interest Entity [Line Items]
Investments in affiliated entities | $	$ 89,300	$ 94,200
Investments in unaffiliated entities | $	15,800	13,400
Investments in Partnerships by Accounting Method [Abstract]
Fair Value | $	13,953	23,815
Equity Method | $	91,098	83,831
Total | $	$ 105,051	$ 107,646
VIEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	1	1	1
Additional consolidated entities	1	0	0
Deconsolidated entities	0	0	0
Entities consolidated at end of period	2	1	1
Investments in Partnerships by Accounting Method [Abstract]
Total | $	$ 4,791	$ 13,434
VOEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	4	4	4
Additional consolidated entities	2	0	0
Deconsolidated entities	(2)	0	0
Entities consolidated at end of period	4	4	4
Prior to Consolidations [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	$ 109,274	$ 111,389
CFFs [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	4,506	4,438
CFFs [Member] | Affiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair Value | $	13,953	23,815
Equity Method | $	0	0
Total | $	$ 13,953	$ 23,815
CFFs [Member] | VIEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	1	1	1
Additional consolidated entities	0	0	0
Deconsolidated entities	0	0	0
Entities consolidated at end of period	1	1	1
CFFs [Member] | VOEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	2	2	2
Additional consolidated entities	1	0	0
Deconsolidated entities	(1)	0	0
Entities consolidated at end of period	2	2	2
Partnerships [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	$ (8,729)	$ (8,181)
Partnerships [Member] | Affiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair Value | $	0	0
Equity Method | $	39,552	34,382
Total | $	39,552	34,382
Partnerships [Member] | Unaffiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair Value | $	0	0
Equity Method | $	7,911	6,552
Total | $	$ 7,911	$ 6,552
Partnerships [Member] | VIEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	0	0	0
Additional consolidated entities	0	0	0
Deconsolidated entities	0	0	0
Entities consolidated at end of period	0	0	0
Partnerships [Member] | VOEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	1	1	1
Additional consolidated entities	1	0	0
Deconsolidated entities	0	0	0
Entities consolidated at end of period	2	1	1
Offshore Funds [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	$ 0	$ 0
Offshore Funds [Member] | Affiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair Value | $	0	0
Equity Method | $	35,746	36,033
Total | $	35,746	36,033
Offshore Funds [Member] | Unaffiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair Value | $	0	0
Equity Method | $	7,889	6,864
Total | $	$ 7,889	$ 6,864
Offshore Funds [Member] | VIEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	0	0	0
Additional consolidated entities	1	0	0
Deconsolidated entities	0	0	0
Entities consolidated at end of period	1	0	0
Offshore Funds [Member] | VOEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	1	1	1
Additional consolidated entities	0	0	0
Deconsolidated entities	(1)	0	0
Entities consolidated at end of period	0	1	1
Maximum threshold ownership percentage for deconsolidation	50.00%

Investment in Partnerships, O44

Investment in Partnerships, Offshore Funds and Variable Interest Entities, Net Impact by Line Item on Financial Statements (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Assets [Abstract]
Cash and cash equivalents	$ 205,750				$ 285,530				$ 205,750	$ 285,530	$ 199,536
Investments in securities	452,300				260,132				452,300	260,132
Investments in partnerships	105,051				107,646				105,051	107,646
Receivable from brokers	56,510				74,407				56,510	74,407
Investment advisory fees receivable	4,896				4,145				4,896	4,145
Other assets	12,241				22,834				12,241	22,834
Total assets	836,748				754,694				836,748	754,694
Liabilities and equity [Abstract]
Securities sold, not yet purchased	9,623				10,595				9,623	10,595
Accrued expenses and other liabilities	69,838				92,838				69,838	92,838
Redeemable noncontrolling interests	5,738				68,334				5,738	68,334
Total equity	751,549				582,927				751,549	582,927	$ 495,375
Total liabilities and stockholders' equity	836,748				754,694				836,748	754,694
Consolidated Statements of Income [Abstract]
Total revenues									22,842	21,029
Total expenses									37,154	30,953
Operating loss	(5,883)	$ (1,081)	$ (3,468)	$ (3,880)	(2,253)	$ (748)	$ (3,645)	$ (3,278)	(14,312)	(9,924)
Total other income (expense), net									11,736	9,542
Income before income taxes									(2,576)	(382)
Income tax provision									(1,685)	775
Net loss									(891)	(1,157)
Net income attributable to noncontrolling interests									(780)	(4,157)
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders	4,189	$ (7,540)	$ 855	$ 2,385	2,346	$ (3,783)	$ 4,015	$ 422	(111)	3,000
Prior to Consolidations [Member]
Assets [Abstract]
Cash and cash equivalents	205,708				285,455				205,708	285,455
Investments in securities	444,368				201,038				444,368	201,038
Investments in partnerships	109,274				111,389				109,274	111,389
Receivable from brokers	53,921				22,629				53,921	22,629
Investment advisory fees receivable	4,881				4,375				4,881	4,375
Other assets	12,614				22,683				12,614	22,683
Total assets	830,766				647,569				830,766	647,569
Liabilities and equity [Abstract]
Securities sold, not yet purchased	9,505				9,991				9,505	9,991
Accrued expenses and other liabilities	69,712				54,651				69,712	54,651
Redeemable noncontrolling interests	0				0				0	0
Total equity	751,549				582,927				751,549	582,927
Total liabilities and stockholders' equity	830,766				647,569				830,766	647,569
Consolidated Statements of Income [Abstract]
Total revenues									22,883	22,027
Total expenses									36,963	29,920
Operating loss									(14,080)	(7,893)
Total other income (expense), net									11,967	11,668
Income before income taxes									(2,113)	3,775
Income tax provision									(1,685)	775
Net loss									(428)	3,000
Net income attributable to noncontrolling interests									(317)	0
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders									(111)	3,000
CFFs [Member]
Assets [Abstract]
Cash and cash equivalents	0				(11)				0	(11)
Investments in securities	0				0				0	0
Investments in partnerships	4,506				4,438				4,506	4,438
Receivable from brokers	0				0				0	0
Investment advisory fees receivable	2				(6)				2	(6)
Other assets	5				0				5	0
Total assets	4,513				4,421				4,513	4,421
Liabilities and equity [Abstract]
Securities sold, not yet purchased	0				0				0	0
Accrued expenses and other liabilities	28				22				28	22
Redeemable noncontrolling interests	4,485				4,399				4,485	4,399
Total equity	0				0				0	0
Total liabilities and stockholders' equity	4,513				4,421				4,513	4,421
Consolidated Statements of Income [Abstract]
Total revenues									(34)	(28)
Total expenses									114	62
Operating loss									(148)	(90)
Total other income (expense), net									(170)	13
Income before income taxes									(318)	(77)
Income tax provision									0	0
Net loss									(318)	(77)
Net income attributable to noncontrolling interests									(318)	(77)
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders									0	0
Partnerships [Member]
Assets [Abstract]
Cash and cash equivalents	41				86				41	86
Investments in securities	7,849				7,801				7,849	7,801
Investments in partnerships	(8,729)				(8,181)				(8,729)	(8,181)
Receivable from brokers	2,164				623				2,164	623
Investment advisory fees receivable	5				(2)				5	(2)
Other assets	15				0				15	0
Total assets	1,345				327				1,345	327
Liabilities and equity [Abstract]
Securities sold, not yet purchased	118				0				118	0
Accrued expenses and other liabilities	79				24				79	24
Redeemable noncontrolling interests	1,148				303				1,148	303
Total equity	0				0				0	0
Total liabilities and stockholders' equity	1,345				327				1,345	327
Consolidated Statements of Income [Abstract]
Total revenues									(7)	(3)
Total expenses									71	44
Operating loss									(78)	(47)
Total other income (expense), net									(69)	50
Income before income taxes									(147)	3
Income tax provision									0	0
Net loss									(147)	3
Net income attributable to noncontrolling interests									(147)	3
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders									0	0
Offshore Funds [Member]
Assets [Abstract]
Cash and cash equivalents	1				0				1	0
Investments in securities	83				51,293				83	51,293
Investments in partnerships	0				0				0	0
Receivable from brokers	425				51,155				425	51,155
Investment advisory fees receivable	8				(222)				8	(222)
Other assets	(393)				151				(393)	151
Total assets	124				102,377				124	102,377
Liabilities and equity [Abstract]
Securities sold, not yet purchased	0				604				0	604
Accrued expenses and other liabilities	19				38,141				19	38,141
Redeemable noncontrolling interests	105				63,632				105	63,632
Total equity	0				0				0	0
Total liabilities and stockholders' equity	$ 124				$ 102,377				124	102,377
Consolidated Statements of Income [Abstract]
Total revenues									0	(967)
Total expenses									6	927
Operating loss									(6)	(1,894)
Total other income (expense), net									8	(2,189)
Income before income taxes									2	(4,083)
Income tax provision									0	0
Net loss									2	(4,083)
Net income attributable to noncontrolling interests									2	(4,083)
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders									$ 0	$ 0

Investment in Partnerships, O45

Investment in Partnerships, Offshore Funds and Variable Interest Entities, Variable Interest Entities (Details)	12 Months Ended
	Dec. 31, 2015USD ($)Entity	Dec. 31, 2014USD ($)Entity	Dec. 31, 2013USD ($)
Variable Interest Entity [Line Items]
Total assets of non-consolidated VIEs	$ 70,200,000	$ 71,600,000
Number of non-consolidated entities | Entity	1	2
Maximum exposure to loss related to VIEs	$ 9,900,000	$ 10,600,000
Deferred carried interest in VIE	39,000	43,000
Balances related to VIEs [Abstract]
Cash and cash equivalents	205,750,000	285,530,000	$ 199,536,000
Investment in securities	333,624,000	220,595,000
Investments in partnerships	105,051,000	107,646,000
Receivable from broker	56,510,000	74,407,000
Payable to brokers	(50,648,000)	(43,397,000)
Accrued expenses and other liabilities	(69,838,000)	(92,838,000)
Redeemable noncontrolling interests	(5,738,000)	(68,334,000)
VIEs [Member]
Balances related to VIEs [Abstract]
Cash and cash equivalents	1,000	0
Investment in securities	83,000	0
Investments in partnerships	4,791,000	13,434,000
Receivable from broker	425,000	0
Payable to brokers	(6,000)	0
Accrued expenses and other liabilities	(404,000)	(12,000)
Redeemable noncontrolling interests	(350,000)	(794,000)
AC's net interests in consolidated VIE	$ 4,540,000	$ 12,628,000

Investment in Partnerships, O46

Investment in Partnerships, Offshore Funds and Variable Interest Entities, Equity Method Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Summarized Financial Information [Abstract]
Total assets	$ 2,414	$ 2,436
Total liabilities	301	293
Total equity	2,113	2,143
Net income/(loss)	$ (18)	$ 49

Fair Value, Assets and Liabilit

Fair Value, Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets [Abstract]
Investments in partnerships	$ 13,953	$ 23,815
Investments in securities [Abstract]
Total investments in securities	333,624	220,595
Liabilities [Abstract]
Securities sold, not yet purchased	9,623	10,595
Recurring Basis [Member]
Assets [Abstract]
Cash equivalents	205,733	285,504
Investments in partnerships	13,953	23,803
Investments in securities [Abstract]
AFS - Common stocks	136,360
AFS - Mutual funds	1,143	1,368
Trading - Gov't obligations	99,940	18,996
Trading - Common stocks	92,194	195,029
Trading - Mutual funds	3,216	3,498
Trading - Other	771	1,704
Total investments in securities	333,624	220,595
Investments in sponsored registered investment companies [Abstract]
AFS - Closed-end funds	72,591	36,323
AFS - Mutual funds	2,952	3,213
Trading - Mutual funds	43,133	1
Total investments in sponsored registered investment companies	118,676	39,537
Total investments	466,253	283,935
Total assets at fair value	671,986	569,439
Liabilities [Abstract]
Trading - Common stocks	9,537	9,960
Trading - Other	86	635
Securities sold, not yet purchased	9,623	10,595
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets [Abstract]
Cash equivalents	205,733	285,504
Investments in partnerships	0	0
Investments in securities [Abstract]
AFS - Common stocks	136,360
AFS - Mutual funds	1,143	1,368
Trading - Gov't obligations	99,940	18,996
Trading - Common stocks	91,686	193,735
Trading - Mutual funds	3,216	3,498
Trading - Other	230	513
Total investments in securities	332,575	218,110
Investments in sponsored registered investment companies [Abstract]
AFS - Closed-end funds	72,591	36,323
AFS - Mutual funds	2,952	3,213
Trading - Mutual funds	43,133	1
Total investments in sponsored registered investment companies	118,676	39,537
Total investments	451,251	257,647
Total assets at fair value	656,984	543,151
Liabilities [Abstract]
Trading - Common stocks	9,537	9,960
Trading - Other	0	0
Securities sold, not yet purchased	9,537	9,960
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets [Abstract]
Cash equivalents	0	0
Investments in partnerships	13,953	23,803
Investments in securities [Abstract]
AFS - Common stocks	0
AFS - Mutual funds	0	0
Trading - Gov't obligations	0	0
Trading - Common stocks	0	1
Trading - Mutual funds	0	0
Trading - Other	236	897
Total investments in securities	236	898
Investments in sponsored registered investment companies [Abstract]
AFS - Closed-end funds	0	0
AFS - Mutual funds	0	0
Trading - Mutual funds	0	0
Total investments in sponsored registered investment companies	0	0
Total investments	14,189	24,701
Total assets at fair value	14,189	24,701
Liabilities [Abstract]
Trading - Common stocks	0	0
Trading - Other	86	635
Securities sold, not yet purchased	86	635
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets [Abstract]
Cash equivalents	0	0
Investments in partnerships	0	0
Investments in securities [Abstract]
AFS - Common stocks	0
AFS - Mutual funds	0	0
Trading - Gov't obligations	0	0
Trading - Common stocks	508	1,293
Trading - Mutual funds	0	0
Trading - Other	305	294
Total investments in securities	813	1,587
Investments in sponsored registered investment companies [Abstract]
AFS - Closed-end funds	0	0
AFS - Mutual funds	0	0
Trading - Mutual funds	0	0
Total investments in sponsored registered investment companies	0	0
Total investments	813	1,587
Total assets at fair value	813	1,587
Liabilities [Abstract]
Trading - Common stocks	0	0
Trading - Other	0	0
Securities sold, not yet purchased	$ 0	$ 0

Fair Value, Changes in Level 3

Fair Value, Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis [Roll Forward]
Beginning balance	$ 1,587	$ 984
Total realized and unrealized gains or (losses) in income - trading	(97)	41
Total realized and unrealized gains or (losses) in income - AFS investments	0	0
Total unrealized gains or (losses) included in other comprehensive income	0	0
Total realized and unrealized gains or (losses)	(97)	41
Purchases	11	10
Sales	(318)	(343)
Net transfers in and/or (out) of Level 3	(370)	895
Ending balance	813	1,587
Trading - Common Stocks [Member]
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis [Roll Forward]
Beginning balance	1,293	700
Total realized and unrealized gains or (losses) in income - trading	(195)	41
Total realized and unrealized gains or (losses) in income - AFS investments	0	0
Total unrealized gains or (losses) included in other comprehensive income	0	0
Total realized and unrealized gains or (losses)	(195)	41
Purchases	6	0
Sales	(238)	(343)
Net transfers in and/or (out) of Level 3	(358)	895
Ending balance	508	1,293
Trading - Other [Member]
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis [Roll Forward]
Beginning balance	294	284
Total realized and unrealized gains or (losses) in income - trading	98	0
Total realized and unrealized gains or (losses) in income - AFS investments	0	0
Total unrealized gains or (losses) included in other comprehensive income	0	0
Total realized and unrealized gains or (losses)	98	0
Purchases	5	10
Sales	(80)	0
Net transfers in and/or (out) of Level 3	(12)	0
Ending balance	$ 305	$ 294

Income Taxes (Details)

Income Taxes (Details)	12 Months Ended
	Dec. 31, 2015USD ($)State	Dec. 31, 2014USD ($)
Federal [Abstract]
Current	$ 4,540,000	$ 5,775,000
Deferred	(6,160,000)	(5,003,000)
State and local [Abstract]
Current	225,000	39,000
Deferred	(290,000)	(36,000)
Total	(1,685,000)	$ 775,000
Pre-state apportionment net operating loss	$ 24,900,000
Number of states where the Company files separate tax returns | State	3
Tax benefit derived from net operating loss	$ 166,000
Valuation allowance on deferred tax assets relating to net operating losses	$ 166,000
Reconciliation of the Federal statutory rate to the effective tax rate [Abstract]
Statutory federal income tax rate	34.00%	35.00%
State income tax, net of federal benefit	1.60%	(0.50%)
Dividends received deduction	26.40%	133.00%
Donation of appreciated securities	3.20%	13.50%
Noncontrolling interests	0.00%	(377.00%)
Other	0.20%	(6.90%)
Effective income tax rate	65.40%	(202.90%)
Deferred tax assets [Abstract]
Stock compensation expense	$ 77,000	$ 847,000
Deferred compensation	871,000	835,000
Investments in securities available for sale	5,523,000	0
Other	0	193,000
Total deferred tax assets	6,471,000	1,875,000
Deferred tax liabilities [Abstract]
Investments in securities available for sale	0	(1,510,000)
Investments in securities and partnerships	(9,839,000)	(14,911,000)
Deferred gain	0	(2,000,000)
Other liabilities	(41,000)	(34,000)
Total deferred tax liabilities	(9,880,000)	(18,455,000)
Net deferred tax liabilities	(3,409,000)	(16,580,000)
Reconciliation of the beginning and ending amount of gross unrecognized tax benefits [Roll Forward]
Balance, beginning of period	57,054	92,700
Additions based on tax positions related to the current year	(59,700)	(34,200)
Additions for tax positions of prior years	0	0
Reductions for tax positions of prior years	(1,900)	(1,400)
Settlements	(11,200)	0
Balance, end of period	(15,678)	57,054
Unrecognized tax benefits that would impact effective tax rate	(10,347)	37,085
Accrued liabilities for interest and penalties	$ 83,950	$ 78,689

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) shares in Millions	Dec. 28, 2015	Nov. 27, 2015	Mar. 07, 2014	Feb. 28, 2007	Dec. 31, 2015	Dec. 31, 2014	Aug. 17, 2010	Mar. 15, 2004
Related Party Transaction [Line Items]
Payable to affiliates					$ 0	$ 20,733,000
GSI Note [Member]
Related Party Transaction [Line Items]
Debt instrument, face amount		$ 150,000,000			$ 150,000,000
Debt instrument, interest rate					4.00%
Interest expenses					$ 66,000
Debt instrument, term					5 years
GGCP Holdings LLC [Member] | Common Class B [Member]
Related Party Transaction [Line Items]
Ownership percentage of voting rights					93.00%
Percentage of ownership					72.00%
GAMCO [Member] | 5.5% Demand Loan [Member]
Related Party Transaction [Line Items]
Debt instrument, face amount							$ 16,000,000	$ 15,000,000
Debt instrument, interest rate							5.50%	5.50%
Repayment of debt	$ 16,000,000		$ 10,000,000	$ 5,000,000
Payable to affiliates	$ 16,000,000		$ 0
Interest expenses					$ 900,000	1,000,000
GSI [Member]
Related Party Transaction [Line Items]
Payable to affiliates					$ 24,341,000	$ 20,713,000
GSI [Member] | Common Class A [Member]
Related Party Transaction [Line Items]
Shares owned by related party (in shares)		4.4

Related Party Transactions, Inv

Related Party Transactions, Investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2006	Dec. 31, 2013
Investments in Securities [Abstract]
Proprietary investment account	$ 41,000,000	$ 80,000,000
Percentage of net profits earned on fund performance	20.00%
Investments in Gabelli U.S. Treasury Money Market Fund	$ 205,750,000	285,530,000		$ 199,536,000
Investments in Partnerships [Abstract]
Investment in affiliated partnerships and offshore funds	89,300,000	94,200,000
Investment Advisory Services [Abstract]
Payable to affiliates	0	20,733,000
GSI [Member]
Investments in Securities [Abstract]
Investments in Gabelli U.S. Treasury Money Market Fund	13,153,000	7,987,000
Investment Advisory Services [Abstract]
Payable to affiliates	24,341,000	20,713,000
GAMCO [Member]
Investments in Securities [Abstract]
Investments in affiliated equity mutual funds	119,800,000	$ 40,900,000
Son of Chairman [Member]
Investments in Securities [Abstract]
Percentage of net profits earned on fund performance			20.00%
Initial funding of proprietary account			$ 40,000,000
Withdrawals amount from 2009 through 2015	40,000,000
Balance in funding of proprietary account	13,700,000
Balance in funding of proprietary account owed to portfolio manager	$ 2,400,000
Increase in proprietary account	2.40%	1.60%
Fees earned for managing proprietary account	$ 100,000	$ 100,000
President and Director [Member] | GS International [Member]
Investment Advisory Services [Abstract]
Percentage of ownership	55.00%
GSI [Member] | GS International [Member]
Investment Advisory Services [Abstract]
Percentage of ownership	45.00%
Gabelli International Gold Fund Limited [Member] | Advisory Fees [Member]
Investment Advisory Services [Abstract]
Revenue from related parties	$ 3,304	11,096
Payable to affiliates	7,904	2,936
Gabelli International Gold Fund Limited [Member] | Incentive Fees [Member]
Investment Advisory Services [Abstract]
Revenue from related parties	0	0
Gabelli Global Partners Ltd [Member] | GS International [Member] | Advisory Fees [Member]
Investment Advisory Services [Abstract]
Revenue from related parties	56,708	286,360
Gabelli Global Partners Ltd [Member] | GS International [Member] | Incentive Fees [Member]
Investment Advisory Services [Abstract]
Revenue from related parties	0	20,886
Gemini Global Partners LP [Member] | GSI and Gemini [Member] | Advisory Fees [Member]
Investment Advisory Services [Abstract]
Revenue from related parties	70,345	78,288
Receivable from affiliates	168,311	98,144
Gemini Global Partners LP [Member] | GSI and Gemini [Member] | Incentive Fees [Member]
Investment Advisory Services [Abstract]
Revenue from related parties	$ 0	$ 178

Related Party Transactions, Com

Related Party Transactions, Compensation and Others (Details) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 28, 2015	Jun. 30, 2015	Mar. 07, 2014
Compensation [Abstract]
Management fee expense percentage		10.00%
Management fee expense (contra expenses)		$ (309,000)	$ (37,000)
Administrative management fee			235,920
Other [Abstract]
Payable to affiliates		$ 0	20,733,000
General partners percentage of incentive allocation		20.00%
GSI [Member]
Other [Abstract]
Payable to affiliates		$ 24,341,000	20,713,000
Percentage of revenue transferred		90.00%
Amounts of transaction		$ 1,007,164	$ 252,419
GAMCO [Member]
Compensation [Abstract]
Administrative management fee percentage			2.75%
Other [Abstract]
Accounts payable to affiliates			$ 4,700,000
GAMCO [Member] | 5.5% Demand Loan [Member]
Other [Abstract]
Payable to affiliates				$ 16,000,000		$ 0
GAMCO [Member] | Loan Payable to GAMCO [Member]
Other [Abstract]
Payable to affiliates			16,000,000
GAMCO [Member] | Office Space in Rye, NY [Member]
Other [Abstract]
Lease term		15 years
Expenses from transactions with related party		$ 310,566	312,014
GAMCO Asset Management Inc [Member]
Other [Abstract]
Revenue from related parties		$ 4,900,000	$ 4,700,000
Revenue percentage earned		59.00%	54.00%
Payment received from related parties		$ 700,000	$ 700,000
Gabelli Funds, LLC [Member]
Other [Abstract]
Payment received from related parties		800,000	800,000
GGN [Member]
Other [Abstract]
Revenue from related parties		0	600,000
Gabelli Healthcare & WellnessRx Trust [Member] | GRX Series B [Member]
Other [Abstract]
Revenue from related parties	$ 19,000
Preferred stock, dividend rate	5.875%
The Gabelli Healthcare & WellnessRx Trust, The Gabelli Multimedia Trust, and The Gabelli Equity Trust [Member]
Other [Abstract]
Revenue from related parties			0
G.distributors, LLC [Member]
Other [Abstract]
Revenue from related parties		$ 300,000	500,000
Due from related parties			$ 44,460
G.research LLC [Member]
Other [Abstract]
Deferred tax liabilities					$ 88,227
Fair value of assets acquired					$ 234,000
G.research LLC [Member] | GSI [Member]
Other [Abstract]
Ownership percentage of voting rights					100.00%
Deferred tax assets					$ 88,227
G.research LLC [Member] | DHI [Member]
Other [Abstract]
Deferred tax liabilities					$ 1,937,670

Stockholder's Equity (Details)

Stockholder's Equity (Details) - USD ($) $ in Thousands	Nov. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost related to non-vested restricted stock awards and options not yet recognized		$ 7,000
Projected compensation cost not yet recognized [Abstract]
2,016		2,270
2,017		1,691
2,018		1,115
2,019		924
2,020		423
2,021		282
2,022		172
2,023		75
2,024		13
Stock based compensation expense		4,931	$ 1,921
Tax benefit from compensation expense		$ 1,700	700
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)		553,100
Projected compensation cost not yet recognized [Abstract]
Stock compensation expense recognized due to acceleration of lapsing of restrictions on RSAs		$ 2,400	$ 0
Restricted Stock Awards [Member] | GAMCO [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)		0	158,600
Shares outstanding (in shares)		553,100	710,750
Restricted Stock Awards [Member] | Spinoff [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)	554,100

Retirement Plan (Details)

Retirement Plan (Details)	12 Months Ended
	Dec. 31, 2015USD ($)
Retirement Plan [Abstract]
Allocated contributions	$ 12,000

Net Capital Requirements (Detai

Net Capital Requirements (Details)	Oct. 27, 2014USD ($)	Dec. 31, 2015USD ($)Borrowing	Dec. 31, 2014USD ($)Borrowing	Sep. 12, 2014USD ($)
Net Capital Requirements [Abstract]
Minimum net capital required for broker dealer subsidiary		$ 250,000	$ 250,000
Percentage of aggregate debit items in reserve formula for minimum net capital required for broker dealer		2.00%	2.00%
Net capital		$ 7,100,000	$ 1,600,000
Excess amount of minimum capital requirement		$ 6,900,000	$ 1,400,000
Number of subordinated borrowings | Borrowing		0	1
Subordinated borrowing				$ 1,000,000
Subordinated borrowings repaid	$ 1,000,000
Interest rate	2.25%
Intertest paid	$ 2,813

Gabelli Securities, Inc. (Detai

Gabelli Securities, Inc. (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Assets [Abstract]
Cash and cash equivalents	$ 205,750,000	$ 285,530,000	$ 199,536,000
Investments in securities (Including GBL stock with a market value of $136.4 million and $0 at December 31, 2015 and December 31, 2014, respectively)	333,624,000	220,595,000
Investments in partnerships	105,051,000	107,646,000
Receivable from brokers and clearing organizations	56,510,000	74,407,000
Receivable from affiliates	7,457,000	402,000
Fixed assets	19,000	30,000
Goodwill	3,254,000	3,254,000
Other assets	1,530,000	19,178,000
Total assets	836,748,000	754,694,000
Liabilities and Equity [Abstract]
Compensation payable	10,926,000	9,179,000
Securities sold, not yet purchased	9,623,000	10,595,000
Payable to affiliates	0	20,733,000
Accrued expenses and other liabilities	1,466,000	1,864,000
Total liabilities	79,461,000	103,433,000
Redeemable noncontrolling interests	5,738,000	68,334,000
Equity [Abstract]
Additional paid-in capital	999,000,000	0
Retained earnings	2,072,000	0
Accumulated comprehensive income (loss)	(1,857,000)	9,178,000
Total Associated Capital Group, Inc. stockholders' equity	749,196,000	582,927,000
Total liabilities and stockholders' equity	836,748,000	754,694,000
GBL stock market value	$ 136,400,000	$ 0
GSI [Member]
Schedule of Investments [Line Items]
Ownership percentage by parent	93.90%
Book value per share (in dollars per share)	$ 88.64	$ 102.18
Assets [Abstract]
Cash and cash equivalents	$ 13,153,000	$ 7,987,000
Investments in securities (Including GBL stock with a market value of $136.4 million and $0 at December 31, 2015 and December 31, 2014, respectively)	151,995,000	14,756,000
Investments in partnerships	75,427,000	84,992,000
Receivable from brokers and clearing organizations	4,273,000	4,175,000
Receivable from affiliates	3,789,000	3,522,000
Income tax receivable from parent	250,000	247,000
Distribution fees receivable	0	44,000
Incentive fees receivable	1,391,000	836,000
Fixed assets	19,000	30,000
Goodwill	3,254,000	3,254,000
Other assets	939,000	2,203,000
Total assets	254,490,000	122,046,000
Liabilities and Equity [Abstract]
Compensation payable	7,410,000	6,506,000
Note payable to parent	150,000,000	0
Income taxes payable	2,050,000	7,738,000
Distribution costs payable	407,000	813,000
Securities sold, not yet purchased	118,000	0
Payable to affiliates	24,341,000	20,713,000
Mandatorily redeemable shares (12,741 shares outstanding)	1,129,000	1,302,000
Accrued expenses and other liabilities	682,000	581,000
Total liabilities	186,137,000	37,653,000
Redeemable noncontrolling interests	9,948,000	17,070,000
Equity [Abstract]
Common stock, $0.01 par value 1,250,000 shares authorized; 726,953 issued; and 658,875 outstanding	7,000	7,000
Additional paid-in capital	22,869,000	20,786,000
Retained earnings	43,644,000	45,482,000
Accumulated comprehensive income (loss)	(8,115,000)	1,048,000
Total Associated Capital Group, Inc. stockholders' equity	58,405,000	67,323,000
Total liabilities and stockholders' equity	$ 254,490,000	$ 122,046,000
Mandatorily redeemable shares outstanding (in shares)	12,741	12,741
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,250,000	1,250,000
Common stock, shares issued (in shares)	726,953	726,953
Common stock, shares outstanding (in shares)	658,875	658,875
GSI [Member] | Unrelated Individual Investors [Member]
Schedule of Investments [Line Items]
Percentage of minority ownership interest	4.20%
GSI [Member] | Certain Employees [Member]
Schedule of Investments [Line Items]
Percentage of minority ownership interest	1.90%

Quarterly Financial Informati57

Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information (Unaudited) [Abstract]
Revenues	$ 8,995	$ 4,690	$ 4,590	$ 4,567	$ 7,677	$ 4,895	$ 4,553	$ 3,904	$ 22,842	$ 21,029
Operating loss	(5,883)	(1,081)	(3,468)	(3,880)	(2,253)	(748)	(3,645)	(3,278)	(14,312)	(9,924)
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders	$ 4,189	$ (7,540)	$ 855	$ 2,385	$ 2,346	$ (3,783)	$ 4,015	$ 422	$ (111)	$ 3,000
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders per share [Abstract]
Basic (in dollars per share)	$ 0.17	$ (0.30)	$ 0.03	$ 0.09	$ 0.09	$ (0.15)	$ 0.16	$ 0.02	$ 0	$ 0.12
Diluted (in dollars per share)	$ 0.17	$ (0.30)	$ 0.03	$ 0.09	$ 0.09	$ (0.15)	$ 0.16	$ 0.02	$ 0	$ 0.12

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Feb. 18, 2016	Mar. 23, 2016	Dec. 31, 2015
Subsequent Event [Line Items]
Dividends declared date			Feb. 18, 2016
Dividends payable date			Jun. 28, 2016
Dividends record date			Jun. 14, 2016
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends declared (in dollars per share)	$ 0.10
Subsequent Event [Member] | Repurchase of Common Stock [Member]
Subsequent Event [Line Items]
Stock repurchased (in shares)		40,737
Average price per share of repurchased shares (in dollars per share)		$ 26.93
Shares available to be repurchsed under the plan (in shares)		457,763