Associated Capital (AC) 10-Q 5 Aug 22 2022 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Jul. 28, 2022
Document Information [Line Items]
Entity Central Index Key	0001642122
Entity Registrant Name	ASSOCIATED CAPITAL GROUP, INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-37387
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-3965991
Entity Address, Address Line One	191 Mason Street
Entity Address, City or Town	Greenwich
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06830
City Area Code	203
Local Phone Number	629-9595
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Trading Symbol	AC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		18,962,754
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,048,405

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents (includes U.S. Treasury Bills with maturities of less than 3 months)		$ 344,258	$ 319,048
Investments in U.S. Treasury Bills with greater than 3 month maturities		24,979	60,996
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)		247,758	273,087
Investments in affiliated registered investment companies		124,483	134,548
Investments in partnerships		146,620	154,460
Receivable from brokers		22,184	42,478
Investment advisory fees receivable		1,324	8,315
Receivable and investment in note receivable from affiliates		102	10,094
Income taxes receivable, including deferred tax assets, net		8,179	0
Goodwill		3,519	3,519
Other assets		21,189	21,682
Investments in marketable securities held in trust	[1]	175,420	175,109
Total assets		1,120,015	1,203,336
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Payable to brokers		12,107	9,339
Income taxes payable, including deferred tax liabilities, net		0	8,575
Compensation payable		5,941	19,730
Securities sold, not yet purchased		3,569	12,905
Accrued expenses and other liabilities		2,181	3,580
Deferred underwriting fee payable		6,125	6,125
PMV warrant liability		908	5,280
Total liabilities		30,831	65,534
Redeemable noncontrolling interests		203,327	202,456
Commitments and contingencies (Note J)
Equity:
Additional paid-in capital		990,147	990,069
Retained earnings		20,159	68,435
Treasury stock, at cost (3,576,913 and 3,534,085 shares, respectively)		(123,037)	(121,427)
Total Associated Capital Group, Inc. equity		887,294	937,102
Noncontrolling interests		(1,437)	(1,756)
Total equity	[2]	885,857	935,346
Total liabilities and equity		1,120,015	1,203,336
Common Class A [Member]
Equity:
Class A Common Stock, $0.001 par value; 100,000,000 shares authorized; 6,629,254 shares issued; 3,052,505 and 3,095,169 shares outstanding, respectively		6	6
Common Class B [Member]
Equity:
Class A Common Stock, $0.001 par value; 100,000,000 shares authorized; 6,629,254 shares issued; 3,052,505 and 3,095,169 shares outstanding, respectively		$ 19	$ 19
[1]At June 30, 2022 and December 31, 2021, marketable securities held in the trust account through PMV were comprised of U.S Treasury Bills which mature in less than one year with an amortized cost and fair value of approximately $175 million, respectively. Such investments are categorized as Level 1.[2]Debit adjustments to Total equity reflect the amortization of the discount related to the issuance of PMV SPAC’s redeemable noncontrolling interest. The discount is amortized through an adjustment to additional paid-in capital and noncontrolling interest (proportionate to ownership interest in PMV Sponsor) and is also adjusted periodically for income/loss allocated to redeemable noncontrolling interest.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Stock value	$ 247,758	$ 273,087
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
Common stock, shares outstanding (in shares)	22,015,000
Treasury stock shares (in shares)	3,576,913	3,534,085
Common Class A [Member]
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)	6,629,254	6,629,254
Common stock, shares outstanding (in shares)	3,052,505	3,095,169
Common Class B [Member]
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	19,196,792
Common stock, shares outstanding (in shares)	18,962,754	18,962,918
GAMCO Investors, Inc [Member]
Stock value	$ 50,500	$ 60,400

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Total revenues	$ 2,546	$ 2,489	$ 5,128	$ 4,814
Expenses
Compensation	3,007	5,023	6,940	8,891
Management fee	0	4,320	0	6,983
Other operating expenses	1,750	3,557	3,705	5,716
Total expenses	4,757	12,900	10,645	21,590
Operating loss	(2,211)	(10,411)	(5,517)	(16,776)
Other income/(loss)
Net gain/(loss) from investments	(37,803)	42,306	(53,413)	73,627
Interest and dividend income	1,932	6,811	2,736	8,000
Interest expense	(46)	(63)	(79)	(154)
Shareholder-designated contribution	0	(439)	(208)	(2,176)
Total other income/(loss), net	(35,917)	48,615	(50,964)	79,297
Income/(loss) before income taxes	(38,128)	38,204	(56,481)	62,521
Income tax expense/(benefit)	(8,036)	9,020	(12,884)	14,610
Income/(loss) before noncontrolling interests	(30,092)	29,184	(43,597)	47,911
Income/(loss) attributable to noncontrolling interests	(205)	(532)	2,476	(360)
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	$ (29,887)	$ 29,716	$ (46,073)	$ 48,271
Net income/(loss) per share attributable to Associated Capital Group, Inc.'s shareholders:
Basic (in dollars per share)	$ (1.36)	$ 1.34	$ (2.09)	$ 2.18
Diluted (in dollars per share)	$ (1.36)	$ 1.34	$ (2.09)	$ 2.18
Weighted average shares outstanding:
Basic (in shares)	22,036	22,118	22,045	22,169
Diluted (in shares)	22,036	22,118	22,045	22,169
Actual shares outstanding (in shares)	22,015	22,101	22,015	22,101
Investment Advice [Member]
Revenues
Total revenues	$ 2,451	$ 2,388	$ 4,937	$ 4,613
Financial Service, Other [Member]
Revenues
Total revenues	$ 95	$ 101	$ 191	$ 201

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net income/(loss) before noncontrolling interests	$ (30,092)	$ 29,184	$ (43,597)	$ 47,911
Less: Comprehensive income/(loss) attributable to noncontrolling interests	(205)	(532)	2,476	(360)
Comprehensive income/(loss) attributable to Associated Capital Group, Inc.	$ (29,887)	$ 29,716	$ (46,073)	$ 48,271

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Parent [Member]	Noncontrolling Interest [Member]	Redeemable Noncontrolling Interests [Member]	Total
Balance at Dec. 31, 2020	$ 25	$ 13,649	$ 999,047	$ (113,783)	$ 898,938	$ 2,451	$ 206,828	$ 901,389
Redemptions of noncontrolling interests	0	0	0	0	0	0	(12,066)	0
Net income/(loss)	0	18,555	0	0	18,555	0	172	18,555
Purchase of treasury stock	0	0	0	(4,198)	(4,198)	0	0	(4,198)
Contributions from redeemable noncontrolling interests	0	0	0	0	0	0	136	0
Balance at Mar. 31, 2021	25	32,204	999,047	(117,981)	913,295	2,451	195,070	915,746
Balance at Dec. 31, 2020	25	13,649	999,047	(113,783)	898,938	2,451	206,828	901,389
Purchase of treasury stock								(6,100)
Balance at Jun. 30, 2021	25	59,709	993,046	(119,874)	932,906	(441)	196,569	932,465
Balance at Mar. 31, 2021	25	32,204	999,047	(117,981)	913,295	2,451	195,070	915,746
Net income/(loss)	0	29,716	0	0	29,716	0	(532)	29,716
Purchase of treasury stock	0	0	0	(1,893)	(1,893)	0	0	(1,893)
Accretion of redeemable noncontrolling interest	0	0	(6,001)	0	(6,001)	(2,892)	8,893	(8,893)
Other changes to redeemable noncontrolling interests	0	0	0	0	0	0	(7,527)	0
Dividends declared ($0.10 per share)	0	(2,211)	0	0	(2,211)	0	0	(2,211)
Accretion of redeemable noncontrolling interest	0	0	6,001	0	6,001	2,892	(8,893)	8,893
Contributions from redeemable noncontrolling interests	0	0	0	0	0	0	665	0
Balance at Jun. 30, 2021	25	59,709	993,046	(119,874)	932,906	(441)	196,569	932,465
Balance at Dec. 31, 2021	25	68,435	990,069	(121,427)	937,102	(1,756)	202,456	935,346	[1]
Redemptions of noncontrolling interests	0	0	0	0	0	0	(486)	0
Net income/(loss)	0	(16,186)	0	0	(16,186)	197	2,484	(15,989)
Purchase of treasury stock	0	0	0	(293)	(293)	0	0	(293)
Accretion of redeemable noncontrolling interest	0	0	(584)	0	(584)	(292)	876	(876)
Other changes to redeemable noncontrolling interests	0	0	0	0	0	0	(10)	0
Accretion of redeemable noncontrolling interest	0	0	584	0	584	292	(876)	876
Balance at Mar. 31, 2022	25	52,249	989,485	(121,720)	920,039	(1,851)	205,320	918,188
Balance at Dec. 31, 2021	25	68,435	990,069	(121,427)	937,102	(1,756)	202,456	935,346	[1]
Purchase of treasury stock								(1,600)
Balance at Jun. 30, 2022	25	20,159	990,147	(123,037)	887,294	(1,437)	203,327	885,857	[1]
Balance at Mar. 31, 2022	25	52,249	989,485	(121,720)	920,039	(1,851)	205,320	918,188
Redemptions of noncontrolling interests	0	0	0	0	0	0	(486)	0
Net income/(loss)	0	(29,887)	0	0	(29,887)	83	(288)	(29,804)
Purchase of treasury stock	0	0	0	(1,317)	(1,317)	0	0	(1,317)
Accretion of redeemable noncontrolling interest	0	0	(662)	0	(662)	(331)	993	(993)
Other changes to redeemable noncontrolling interests	0	0	0	0	0	0	(226)	0
Dividends declared ($0.10 per share)	0	(2,203)	0	0	(2,203)	0	0	(2,203)
Accretion of redeemable noncontrolling interest	0	0	662	0	662	331	(993)	993
Balance at Jun. 30, 2022	$ 25	$ 20,159	$ 990,147	$ (123,037)	$ 887,294	$ (1,437)	$ 203,327	$ 885,857	[1]
[1]Debit adjustments to Total equity reflect the amortization of the discount related to the issuance of PMV SPAC’s redeemable noncontrolling interest. The discount is amortized through an adjustment to additional paid-in capital and noncontrolling interest (proportionate to ownership interest in PMV Sponsor) and is also adjusted periodically for income/loss allocated to redeemable noncontrolling interest.

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Dividends declared, per share (in dollars per share)	$ 0.10	$ 0.10

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities
Net income/(loss)	$ (43,597)	$ 47,911
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Equity in net/(gains) losses from partnerships	7,653	(14,718)
Depreciation and amortization	161	200
Deferred income taxes	(12,986)	9,673
Donated securities	127	1,848
Unrealized (gains)/losses on securities	53,057	(51,865)
Dividends received as securities	0	(5,066)
Realized gains on sales of securities	(7,702)	(66)
(Increase)/decrease in assets:
Investments in trading securities	14,764	252,364
Investments in partnerships:
Contributions to partnerships	(4,910)	(5,261)
Distributions from partnerships	5,143	4,183
Receivable from affiliates	9,992	854
Receivable from brokers	16,481	(15,475)
Investment advisory fees receivable	6,945	6,098
Income taxes receivable	(1,728)	(507)
Other assets	332	2,260
Increase/(decrease) in liabilities:
Payable to affiliates	0	(2,188)
Payable to brokers	2,768	5,738
Income taxes payable	(2,040)	(2,335)
Compensation payable	(13,789)	(1,549)
Accrued expenses and other liabilities	(1,399)	(438)
Total adjustments	72,869	183,750
Net cash provided by operating activities	29,272	231,661
Investing activities
Maturities of marketable securities held in trust	0	175,076
Purchases of marketable securities held in trust	0	(175,076)
Purchases of securities	(4,261)	(1,017)
Proceeds from sales of securities	106	6,377
Return of capital on securities	1,290	242
Net cash provided by/(used in) investing activities	(2,865)	5,602
Financing activities
Dividends paid	(2,203)	(2,211)
Purchase of treasury stock	(1,610)	(6,091)
Contributions from redeemable noncontrolling interests	0	801
Redemptions of redeemable noncontrolling interests	(1,197)	0
Net cash used in financing activities	(5,010)	(7,501)
Net increase in cash, cash equivalents and restricted cash	21,397	229,762
Cash, cash equivalents and restricted cash at beginning of period	328,594	39,509
Cash, cash equivalents and restricted cash at end of period	349,991	269,271
Supplemental disclosures of cash flow information:
Cash paid for interest	79	155
Cash paid for taxes	3,869	7,848
Reconciliation of Cash, cash equivalents and restricted cash at end of period:
Cash and cash equivalents (includes U.S. Treasury Bills with maturities of less than 3 months)	344,258	269,271
Restricted cash included in receivable from broker	5,733	0
Cash, cash equivalents and restricted cash	$ 349,991	$ 269,271

Note A - Organization

Note A - Organization	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	A. Organization Unless we have indicated otherwise, or the context otherwise requires, references in this report to “Associated Capital Group, Inc.”, "Associated Capital", “AC Group”, “the Company”, “AC”, “we”, “us” and “our” or similar terms are to Associated Capital Group, Inc., its predecessors and its subsidiaries. We are a Delaware corporation that provides alternative investment management, and we derive investment income/(loss) from proprietary investment of cash and other assets in our operating business. Gabelli & Company Investment Advisors, Inc. (“GCIA”), a wholly-owned subsidiary of AC, and its wholly-owned subsidiary, Gabelli & Partners, LLC (“Gabelli & Partners”), collectively serve as general partners or investment managers to investment funds including limited partnerships and offshore companies (collectively, “Investment Partnerships”), and separate accounts. We primarily manage assets across a range of risk and event arbitrage portfolios and in equity event-driven value strategies. The businesses earn management and incentive fees from their advisory activities. Management fees are largely based on a percentage of assets under management. Incentive fees are based on the percentage of the investment returns of certain clients’ portfolios. GCIA is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940, PMV Consumer Acquisition Corp. On September 22, 2020, PMV Consumer Acquisition Corp. (“PMV”) was created to pursue an initial business combination with companies within the global consumer industry having an enterprise valuation in the range of $200 million to $3.5 billion. PMV Consumer Acquisition Holding Company, LLC (“Sponsor”) was created to assist PMV in sourcing, analyzing and consummating acquisition opportunities for that initial business combination. The Sponsor and PMV (collectively "Consolidated PMV") have been consolidated in the financial statements of AC because AC has a controlling financial interest in these entities. This resulted in the consolidation of $162.0 million of assets, $7.2 million of liabilities, $165.0 million of redeemable noncontrolling interests, and $(1.4) million of noncontrolling interests relating to PMV and the Sponsor as of June 30, 2022 December 31, 2021. See Note D for a further discussion of PMV Consumer Acquisition Corp. as well as its registration statement, Annual Reports, and Quarterly Reports, which are all located on the U.S. Securities and Exchange Commission website https://www.sec.gov AC Spin-off On November 30, 2015, As part of the Spin-off, AC received 4,393,055 shares of GAMCO Class A common stock for $150 million. The Company held 2,417,500 shares as of June 30, 2022 December 31, 2021, Basis of Presentation The unaudited interim condensed consolidated financial statements of AC Group included herein have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10 10 01 X. not not The interim condensed consolidated financial statements include the accounts of AC Group and its subsidiaries. All material intercompany transactions and balances have been eliminated. In addition to Consolidated PMV, there are several other entities that are consolidated within the financial statements. The details on the impact of consolidating these entities on the condensed consolidated financial statements can be seen in Note D. Investment Partnerships and Other Entities. These interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10 December 31, 2021 Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported on the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Recent Accounting Developments In June 2016, 2016 13, 326 2016 13” 2016 13, November 2019, 2019 10, three January 1, 2023 In January 2017, 2017 04, 2019 10, January 1, 2023. January 1, 2023

Note B - Revenue

Note B - Revenue	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	Refer to the Company’s audited consolidated financial statements included in our Annual Report on Form 10K December 31, 2021 The Company’s major revenue sources are as follows for the three six June 30, 2022 2021 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Investment advisory and incentive fees Asset-based advisory fees $ 1,309 $ 1,249 $ 2,613 $ 2,432 Performance-based advisory fees - 47 44 56 Sub-advisory fees 1,142 1,092 2,280 2,125 Sub-total 2,451 2,388 4,937 4,613 Other Miscellaneous 95 101 191 201 Total $ 2,546 $ 2,489 $ 5,128 $ 4,814

Note C - Investments in Securit

Note C - Investments in Securities	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Investments in securities at June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Cost Fair Value Cost Fair Value Debt - Trading Securities: U.S. Treasury Bills $ 24,942 $ 24,979 $ 60,992 $ 60,996 Equity Securities: Common stocks 260,604 241,552 239,383 265,156 Mutual funds 536 923 524 1,351 Other investments 5,753 5,283 6,253 6,580 Total equity securities 266,893 247,758 246,160 273,087 Total investments in securities $ 291,835 $ 272,737 $ 307,152 $ 334,083 Investments in marketable securities held in trust (1) $ 175,420 $ 175,420 $ 175,109 $ 175,109 ( 1 June 30, 2022 December 31, 2021 one 1. The Company's held to maturity investments at June 30, 2022 December 31, 2021 June 30, 2022 Amortized cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value Held to maturity: Investment in note receivable from affiliate $ - $ - $ - $ - During the three six June 30, 2022, December 31, 2021 Amortized cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value Held to maturity: Investment in note receivable from affiliate (2) $ 5,066 $ - $ - $ 5,066 ( 2 2023 2021 Securities sold, not June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Cost Fair Value Cost Fair Value Equity securities: Common stocks $ 2,999 $ 2,297 $ 9,021 $ 9,838 Other investments 673 1,272 2,767 3,067 Total securities sold, not yet purchased $ 3,672 $ 3,569 $ 11,788 $ 12,905 Investments in affiliated registered investment companies at June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Cost Fair Value Cost Fair Value Equity securities: Closed-end funds $ 45,067 $ 58,574 $ 42,484 $ 64,381 Mutual funds 49,645 65,909 49,362 70,167 Total investments in affiliated registered investment companies $ 94,712 $ 124,483 $ 91,846 $ 134,548

Note D - Investment Partnership

Note D - Investment Partnerships and Other Entities	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Investment Holdings [Text Block]	The Company is general partner or co-general partner of various affiliated entities whose underlying assets consist primarily of marketable securities (“Affiliated Entities”). We also had investments in unaffiliated partnerships, offshore funds and other entities of $36.4 million and $41.9 million at June 30, 2022 December 31, 2021 none Investments in partnerships that are not June 30, 2022 December 31, 2021 Capital may may may No no PMV Consumer Acquisition Corp. The Company consolidates the assets, liabilities and the results of operations of both PMV and Sponsor. The Company invested $4.0 million, or approximately 62% of the $6.48 million total Sponsor partnership commitment. The Sponsor is managed primarily by Company executives. The Company has determined that the Sponsor is a variable interest entity (VIE) and that the Company is the primary beneficiary and therefore consolidates the assets and liabilities and results of operations of the Sponsor. In addition, the Company has determined that PMV is a VIE due to the lack of equity at risk and is consolidated by the Sponsor, who is deemed to be the primary beneficiary. Neither AC nor PMV have a right to the benefits from nor does it bear the risks associated with the marketable securities held in trust assets held by PMV. Further, if PMV were to liquidate, the marketable securities held in trust assets would not not The registration statement for the PMV initial public offering was declared effective on September 21, 2020. September 24, 2020, one one Simultaneously with the closing of the initial public offering, PMV consummated the sale of 6,150,000 warrants (the “Private Warrants”) at a price of $1.00 per Private Warrant in a private placement to the Sponsor, generating gross proceeds of $6,150,000. AC invested $10 million in the Class A shares in PMV and the Sponsor invested $6.15 million in Private Warrants, both of which eliminate in the consolidation of PMV. Following the closing of the initial public offering on September 24, 2020, PMV will have until September 24, 2022 ( may not ten The following table reflects the net impact of the consolidated investment partnerships and other entities (“Consolidated Entities”) on the condensed consolidated statements of financial condition (in thousands): June 30, 2022 Prior to Consolidated Assets Consolidation Entities As Reported Cash and cash equivalents $ 343,177 $ 1,081 $ 344,258 Investments in U.S. Treasury Bills 24,979 - 24,979 Investments in securities 157,029 90,729 247,758 Investments in affiliated registered investment companies 174,032 (49,549 ) 124,483 Investments in partnerships 164,204 (17,584 ) 146,620 Receivable from brokers 9,631 12,553 22,184 Investment advisory fees receivable 1,329 (5 ) 1,324 Other assets (1) 37,768 (4,779 ) 32,989 Investments in marketable securities held in trust - 175,420 175,420 Total assets $ 912,149 $ 207,866 $ 1,120,015 Liabilities and equity Securities sold, not yet purchased $ 3,153 $ 416 $ 3,569 Accrued expenses and other liabilities (1) 12,802 14,460 27,262 Redeemable noncontrolling interests - 203,327 203,327 Total equity (2) 896,194 (10,337 ) 885,857 Total liabilities and equity $ 912,149 $ 207,866 $ 1,120,015 December 31, 2021 Prior to Consolidated Assets Consolidation Entities As Reported Cash and cash equivalents $ 315,009 $ 4,039 $ 319,048 Investments in U.S. Treasury Bills 60,996 - 60,996 Investments in securities 184,229 88,858 273,087 Investments in affiliated registered investment companies 186,474 (51,926 ) 134,548 Investments in partnerships 174,683 (20,223 ) 154,460 Receivable from brokers 21,993 20,485 42,478 Investment advisory fees receivable 8,320 (5 ) 8,315 Other assets (1) 39,400 (4,105 ) 35,295 Investments in marketable securities held in trust - 175,109 175,109 Total assets $ 991,104 $ 212,232 $ 1,203,336 Liabilities and equity Securities sold, not yet purchased $ 11,199 $ 1,706 $ 12,905 Accrued expenses and other liabilities (1) 33,825 18,804 52,629 Redeemable noncontrolling interests - 202,456 202,456 Total equity (2) 946,080 (10,734 ) 935,346 Total liabilities and equity $ 991,104 $ 212,232 $ 1,203,336 ( 1 ( 2 The following table reflects the net impact of the consolidated entities on the condensed consolidated statements of income (in thousands): Three Months Ended June 30, 2022 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 2,734 $ (188 ) $ 2,546 Operating loss (1,462 ) (749 ) (2,211 ) Total other income/(loss), net (36,461 ) 544 (35,917 ) Income/(loss) before noncontrolling interests (29,887 ) (205 ) (30,092 ) Income/(loss) attributable to noncontrolling interests, net of taxes - (205 ) (205 ) Net income/(loss) $ (29,887 ) $ - $ (29,887 ) Three Months Ended June 30, 2021 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 4,801 $ (2,312 ) $ 2,489 Operating loss (6,156 ) (4,255 ) (10,411 ) Total other income, net 44,847 3,768 48,615 Income/(loss) before noncontrolling interests 29,671 (487 ) 29,184 Income/(loss) attributable to noncontrolling interests, net of taxes - (532 ) (532 ) Net income $ 29,671 $ 45 $ 29,716 Six Months Ended June 30, 2022 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 5,506 $ (378 ) $ 5,128 Operating loss (4,103 ) (1,414 ) (5,517 ) Total other income/(loss), net (54,854 ) 3,890 (50,964 ) Income/(loss) before noncontrolling interests (46,073 ) 2,476 (43,597 ) Income/(loss) attributable to noncontrolling interests, net of taxes - 2,476 2,476 Net income/(loss) $ (46,073 ) $ - $ (46,073 ) Six Months Ended June 30, 2021 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 6,941 $ (2,127 ) $ 4,814 Operating loss (12,008 ) (4,768 ) (16,776 ) Total other income, net 74,903 4,394 79,297 Income/(loss) before noncontrolling interests 48,285 (374 ) 47,911 Income/(loss) attributable to noncontrolling interests, net of taxes - (360 ) (360 ) Net income/(loss) $ 48,285 $ (14 ) $ 48,271 Variable Interest Entities With respect to each consolidated VIE, its assets may no The following table presents the balances related to VIEs that are consolidated and included on the condensed consolidated statements of financial condition as well as the Company’s net interest in these VIEs (in thousands): June 30, December 31, 2022 2021 Cash and cash equivalents $ 1,495 $ 1,911 Investments in securities 9,411 11,227 Receivable from brokers 27 1,106 Investments in partnerships and affiliates - - Investments in marketable securities held in trust 175,420 175,109 Other assets 33 103 Accrued expenses and other liabilities (1) (6,569 ) (7,074 ) PMV warrant liability (908 ) (5,280 ) Redeemable noncontrolling interests (165,437 ) (162,314 ) Nonredeemable noncontrolling interests 1,437 1,757 AC Group's net interests in consolidated VIEs $ 14,909 $ 16,545 ( 1 Voting Interest Entities We have an investment partnership that is consolidated as a VOE for both 2022 2021 June 30, 2022 December 31, 2021 2022 2021 Equity Method Investments The Company’s equity method investments include investments in partnerships and offshore funds. These equity method investments are not 10%

Note E - Fair Value

Note E - Fair Value	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Accounting Standards Codification Topic 820, 820 three • Level 1 • Level 2 not • Level 3 Inputs used to measure fair value might fall in different levels of the fair value hierarchy, in which case the Company defaults to the lowest level input that is significant to the fair value measurement in its entirety. These levels are not The following tables present assets and liabilities measured at fair value on a recurring basis, unless otherwise noted, as of the dates specified (in thousands): June 30, 2022 Assets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Cash equivalents $ 342,351 $ - $ - $ 342,351 Investments in securities (including GBL stock): Trading - U.S. Treasury Bills 24,979 - - 24,979 Common stocks 237,409 2,046 2,097 241,552 Mutual funds 923 - - 923 Other 3,885 1,164 234 5,283 Total investments in securities 267,196 3,210 2,331 272,737 Investments in affiliated registered investment companies: Closed-end funds 48,174 - 10,400 58,574 Mutual funds 65,909 - - 65,909 Total investments in affiliated registered investment companies 114,083 - 10,400 124,483 Total investments held at fair value 381,279 3,210 12,731 397,220 Total assets at fair value $ 723,630 $ 3,210 $ 12,731 $ 739,571 Liabilities Common stocks $ 2,297 $ - $ - $ 2,297 Other 808 464 - 1,272 Securities sold, not yet purchased 3,105 464 - 3,569 PMV warrant liability 908 - - 908 Total liabilities at fair value $ 4,013 $ 464 $ - $ 4,477 December 31, 2021 Assets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Cash equivalents $ 314,172 $ - $ - $ 314,172 Investments in securities (including GBL stock): Trading - U.S. Treasury Bills 60,996 - - 60,996 Common stocks 260,763 2,320 2,073 265,156 Mutual funds 1,351 - - 1,351 Other 4,833 1,220 527 6,580 Total investments in securities 327,943 3,540 2,600 334,083 Investments in affiliated registered investment companies: Closed-end funds 56,381 - 8,000 64,381 Mutual funds 70,167 - - 70,167 Total investments in affiliated registered investment companies 126,548 - 8,000 134,548 Total investments held at fair value 454,491 3,540 10,600 468,631 Total assets at fair value $ 768,663 $ 3,540 $ 10,600 $ 782,803 Liabilities Common stocks $ 9,838 $ - $ - $ 9,838 Other 1,959 1,108 - 3,067 Securities sold, not yet purchased 11,797 1,108 - 12,905 PMV warrant liability 5,280 - - 5,280 Total liabilities at fair value $ 17,077 $ 1,108 $ - $ 18,185 The following table presents additional information about assets by major category measured at fair value on a recurring basis and for which the Company has utilized Level 3 Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Total Total Total Total Assets: Beginning balance $ 12,720 $ 6,154 $ 10,600 $ 6,498 Total gains/(losses) 20 (19 ) 70 (49 ) Purchases - - 2,400 44 Sales (9 ) - (339 ) - Transfers - - - (358 ) Ending balance $ 12,731 $ 6,135 $ 12,731 $ 6,135 Changes in net unrealized gain/(loss) included in Net gain/(loss) from investments related to level 3 assets still held as of the reporting date $ 20 $ (19 ) $ 70 $ (49 ) Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Liabilities: Total Total Total Total Beginning balance $ - $ - $ - $ - Total (gains)/losses - (825 ) - (825 ) Issuances - 8,333 - 8,333 Transfers - - - - Ending balance $ - $ 7,508 $ - $ 7,508 Changes in net unrealized (gain)/loss included in Net gain/(loss) from investments related to level 3 liabilities still held as of the reporting date $ - $ (825 ) $ - $ (825 ) Total realized and unrealized gains and losses for Level 3 During the three six June 30, 2022 three June 30, 2021, 3. six June 30, 2021 3 1 The following table presents the carrying amounts and estimated fair values of financial assets that are not June 30, 2022 December 31, 2021 Assets Level within Fair Value Hierarchy Fair Value Amortized Cost Level within Fair Value Hierarchy Fair Value Amortized Cost Investment in note receivable from affiliate (1) - $ - $ - 2 $ 5,066 $ 5,066 Total assets $ - $ - $ 5,066 $ 5,066 ( 1

Note F - Income Taxes

Note F - Income Taxes	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	The effective tax rate (“ETR”) for the six June 30, 2022 June 30, 2021 2022 2021 At June 30, 2022 not not June 30, 2022 December 31, 2021 As of and for the periods ended June 30, 2022 December 31, 2021 not The Company remains subject to income tax examination by the IRS for the years 2018 2020 2016.

Note G - Earnings Per Share

Note G - Earnings Per Share	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	Basic earnings per share is computed by dividing net income/(loss) attributable to our shareholders by the weighted average number of shares outstanding during the period. Diluted earnings per share is computed by dividing net income/(loss) attributable to our shareholders by the weighted average number of shares, plus any potentially dilutive securities (if any), outstanding during the period. The computations of basic and diluted net income/(loss) per share are as follows (in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share amounts) 2022 2021 2022 2021 Income/(loss) before noncontrolling interests $ (30,092 ) $ 29,184 $ (43,597 ) $ 47,911 Less: Income/(loss) attributable to noncontrolling interests (205 ) (532 ) 2,476 (360 ) Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders $ (29,887 ) $ 29,716 $ (46,073 ) $ 48,271 Weighted average number of shares of Common Stock outstanding - basic 22,036 22,118 22,045 22,169 Weighted average number of shares of Common Stock outstanding - diluted 22,036 22,118 22,045 22,169 Basic and Diluted EPS $ (1.36 ) $ 1.34 $ (2.09 ) $ 2.18

Note H - Equity

Note H - Equity	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Voting Rights The holders of Class A Common stock (“Class A Stock”) and Class B Common stock (“Class B Stock”) have identical rights except that holders of Class A Stock are entitled to one vote per share, while holders of Class B Stock are entitled to ten votes per share on all matters to be voted on by shareholders in general. Holders of each share class, however, are not Stock Award and Incentive Plan The Company’s Board of Directors periodically grants shares of Phantom Restricted Stock awards (“Phantom RSAs”). Under the terms of the grants, the Phantom RSAs vest 30% and 70% after three five The Phantom RSAs are treated as a liability because cash settlement is required and compensation will be recognized over the vesting period. In determining the compensation expense to be recognized each period, the Company will re-measure the fair value of the liability at each reporting date taking into account the remaining vesting period attributable to each award and the current market value of the Company’s Class A stock. In making these determinations, the Company will consider the impact of Phantom RSAs that have been forfeited prior to vesting (e.g., due to an employee termination). The Company has elected to consider forfeitures as they occur. Based on the closing price of the Company’s Class A Common Stock on June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 The following table summarizes our stock-based compensation as well as unrecognized compensation for the three six June 30, 2022 2021 Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Stock-based compensation expense $ (117 ) $ 483 $ 322 $ 858 Remaining expense to be recognized, if all vesting conditions are met(1) 4,493 7,034 Weighted average remaining contractual term (in years) 2.0 2.4 ( 1 not The following table summarizes Phantom RSA activity (in thousands, except per share data): PRSA's Weighted Average Grant Date Fair Value Balance at December 31, 2021 222,905 $ 36.03 Granted - - Forfeited (945 ) 37.40 Vested - - Balance at March 31, 2022 221,960 $ 36.02 Granted - - Forfeited (6,050 ) 35.63 Vested - - Balance at June 30, 2022 215,910 $ 36.04 Stock Repurchase Program In December 2015, February 7, 2017, August 3, 2017 May 8, 2018, not The following table presents the Company's stock repurchase activity and remaining authorization: Number of shares purchased Average price per share Remaining repurchase authorization December 31, 2021 677,144 Share repurchase plan (1) (7,536 ) $ 38.84 Remaining repurchase authorization March 31, 2022 669,608 Share repurchase plan (1) (35,292 ) $ 37.32 Remaining repurchase authorization June 30, 2022 634,316 Remaining repurchase authorization December 31, 2020 893,102 Share repurchase plan (1) (119,087 ) $ 35.24 Remaining repurchase authorization March 31, 2021 774,015 Share repurchase plan (1) (53,992 ) $ 35.06 Remaining repurchase authorization June 30, 2021 720,023 ( 1 three June 30, 2022 2021, six June 30, 2022 2021 Dividends During the three six June 30, 2022 2021

Note I - Goodwill

Note I - Goodwill	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Goodwill Disclosure [Text Block]	At June 30, 2022 not six June 30, 2022 June 30, 2021 no

Note J - Guarantees, Contingenc

Note J - Guarantees, Contingencies and Commitments	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	From time to time, the Company may may may not June 30, 2022 The Company has also entered into arrangements with various other third third no no

Note K - Subsequent Events

Note K - Subsequent Events	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Subsequent Events [Text Block]	From July 1, 2022 August 5, 2022,

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Organization [Policy Text Block]	Unless we have indicated otherwise, or the context otherwise requires, references in this report to “Associated Capital Group, Inc.”, "Associated Capital", “AC Group”, “the Company”, “AC”, “we”, “us” and “our” or similar terms are to Associated Capital Group, Inc., its predecessors and its subsidiaries. We are a Delaware corporation that provides alternative investment management, and we derive investment income/(loss) from proprietary investment of cash and other assets in our operating business. Gabelli & Company Investment Advisors, Inc. (“GCIA”), a wholly-owned subsidiary of AC, and its wholly-owned subsidiary, Gabelli & Partners, LLC (“Gabelli & Partners”), collectively serve as general partners or investment managers to investment funds including limited partnerships and offshore companies (collectively, “Investment Partnerships”), and separate accounts. We primarily manage assets across a range of risk and event arbitrage portfolios and in equity event-driven value strategies. The businesses earn management and incentive fees from their advisory activities. Management fees are largely based on a percentage of assets under management. Incentive fees are based on the percentage of the investment returns of certain clients’ portfolios. GCIA is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940,
Business Combinations and Other Purchase of Business Transactions, Policy [Policy Text Block]	PMV Consumer Acquisition Corp. On September 22, 2020, PMV Consumer Acquisition Corp. (“PMV”) was created to pursue an initial business combination with companies within the global consumer industry having an enterprise valuation in the range of $200 million to $3.5 billion. PMV Consumer Acquisition Holding Company, LLC (“Sponsor”) was created to assist PMV in sourcing, analyzing and consummating acquisition opportunities for that initial business combination. The Sponsor and PMV (collectively "Consolidated PMV") have been consolidated in the financial statements of AC because AC has a controlling financial interest in these entities. This resulted in the consolidation of $162.0 million of assets, $7.2 million of liabilities, $165.0 million of redeemable noncontrolling interests, and $(1.4) million of noncontrolling interests relating to PMV and the Sponsor as of June 30, 2022 December 31, 2021. See Note D for a further discussion of PMV Consumer Acquisition Corp. as well as its registration statement, Annual Reports, and Quarterly Reports, which are all located on the U.S. Securities and Exchange Commission website https://www.sec.gov AC Spin-off On November 30, 2015, As part of the Spin-off, AC received 4,393,055 shares of GAMCO Class A common stock for $150 million. The Company held 2,417,500 shares as of June 30, 2022 December 31, 2021,
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The unaudited interim condensed consolidated financial statements of AC Group included herein have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10 10 01 X. not not The interim condensed consolidated financial statements include the accounts of AC Group and its subsidiaries. All material intercompany transactions and balances have been eliminated. In addition to Consolidated PMV, there are several other entities that are consolidated within the financial statements. The details on the impact of consolidating these entities on the condensed consolidated financial statements can be seen in Note D. Investment Partnerships and Other Entities. These interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10 December 31, 2021
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported on the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Developments In June 2016, 2016 13, 326 2016 13” 2016 13, November 2019, 2019 10, three January 1, 2023 In January 2017, 2017 04, 2019 10, January 1, 2023. January 1, 2023

Note B - Revenue (Tables)

Note B - Revenue (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Investment advisory and incentive fees Asset-based advisory fees $ 1,309 $ 1,249 $ 2,613 $ 2,432 Performance-based advisory fees - 47 44 56 Sub-advisory fees 1,142 1,092 2,280 2,125 Sub-total 2,451 2,388 4,937 4,613 Other Miscellaneous 95 101 191 201 Total $ 2,546 $ 2,489 $ 5,128 $ 4,814

Note C - Investments in Secur_2

Note C - Investments in Securities (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]	June 30, 2022 December 31, 2021 Cost Fair Value Cost Fair Value Debt - Trading Securities: U.S. Treasury Bills $ 24,942 $ 24,979 $ 60,992 $ 60,996 Equity Securities: Common stocks 260,604 241,552 239,383 265,156 Mutual funds 536 923 524 1,351 Other investments 5,753 5,283 6,253 6,580 Total equity securities 266,893 247,758 246,160 273,087 Total investments in securities $ 291,835 $ 272,737 $ 307,152 $ 334,083 Investments in marketable securities held in trust (1) $ 175,420 $ 175,420 $ 175,109 $ 175,109
Investments in and Advances to Affiliates [Table Text Block]	June 30, 2022 Amortized cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value Held to maturity: Investment in note receivable from affiliate $ - $ - $ - $ - December 31, 2021 Amortized cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value Held to maturity: Investment in note receivable from affiliate (2) $ 5,066 $ - $ - $ 5,066 June 30, 2022 December 31, 2021 Cost Fair Value Cost Fair Value Equity securities: Closed-end funds $ 45,067 $ 58,574 $ 42,484 $ 64,381 Mutual funds 49,645 65,909 49,362 70,167 Total investments in affiliated registered investment companies $ 94,712 $ 124,483 $ 91,846 $ 134,548
Investments Sold, Not yet Purchased [Table Text Block]	June 30, 2022 December 31, 2021 Cost Fair Value Cost Fair Value Equity securities: Common stocks $ 2,999 $ 2,297 $ 9,021 $ 9,838 Other investments 673 1,272 2,767 3,067 Total securities sold, not yet purchased $ 3,672 $ 3,569 $ 11,788 $ 12,905

Note D - Investment Partnersh_2

Note D - Investment Partnerships and Other Entities (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Condensed Balance Sheet [Table Text Block]	June 30, 2022 Prior to Consolidated Assets Consolidation Entities As Reported Cash and cash equivalents $ 343,177 $ 1,081 $ 344,258 Investments in U.S. Treasury Bills 24,979 - 24,979 Investments in securities 157,029 90,729 247,758 Investments in affiliated registered investment companies 174,032 (49,549 ) 124,483 Investments in partnerships 164,204 (17,584 ) 146,620 Receivable from brokers 9,631 12,553 22,184 Investment advisory fees receivable 1,329 (5 ) 1,324 Other assets (1) 37,768 (4,779 ) 32,989 Investments in marketable securities held in trust - 175,420 175,420 Total assets $ 912,149 $ 207,866 $ 1,120,015 Liabilities and equity Securities sold, not yet purchased $ 3,153 $ 416 $ 3,569 Accrued expenses and other liabilities (1) 12,802 14,460 27,262 Redeemable noncontrolling interests - 203,327 203,327 Total equity (2) 896,194 (10,337 ) 885,857 Total liabilities and equity $ 912,149 $ 207,866 $ 1,120,015 December 31, 2021 Prior to Consolidated Assets Consolidation Entities As Reported Cash and cash equivalents $ 315,009 $ 4,039 $ 319,048 Investments in U.S. Treasury Bills 60,996 - 60,996 Investments in securities 184,229 88,858 273,087 Investments in affiliated registered investment companies 186,474 (51,926 ) 134,548 Investments in partnerships 174,683 (20,223 ) 154,460 Receivable from brokers 21,993 20,485 42,478 Investment advisory fees receivable 8,320 (5 ) 8,315 Other assets (1) 39,400 (4,105 ) 35,295 Investments in marketable securities held in trust - 175,109 175,109 Total assets $ 991,104 $ 212,232 $ 1,203,336 Liabilities and equity Securities sold, not yet purchased $ 11,199 $ 1,706 $ 12,905 Accrued expenses and other liabilities (1) 33,825 18,804 52,629 Redeemable noncontrolling interests - 202,456 202,456 Total equity (2) 946,080 (10,734 ) 935,346 Total liabilities and equity $ 991,104 $ 212,232 $ 1,203,336
Condensed Income Statement [Table Text Block]	Three Months Ended June 30, 2022 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 2,734 $ (188 ) $ 2,546 Operating loss (1,462 ) (749 ) (2,211 ) Total other income/(loss), net (36,461 ) 544 (35,917 ) Income/(loss) before noncontrolling interests (29,887 ) (205 ) (30,092 ) Income/(loss) attributable to noncontrolling interests, net of taxes - (205 ) (205 ) Net income/(loss) $ (29,887 ) $ - $ (29,887 ) Three Months Ended June 30, 2021 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 4,801 $ (2,312 ) $ 2,489 Operating loss (6,156 ) (4,255 ) (10,411 ) Total other income, net 44,847 3,768 48,615 Income/(loss) before noncontrolling interests 29,671 (487 ) 29,184 Income/(loss) attributable to noncontrolling interests, net of taxes - (532 ) (532 ) Net income $ 29,671 $ 45 $ 29,716 Six Months Ended June 30, 2022 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 5,506 $ (378 ) $ 5,128 Operating loss (4,103 ) (1,414 ) (5,517 ) Total other income/(loss), net (54,854 ) 3,890 (50,964 ) Income/(loss) before noncontrolling interests (46,073 ) 2,476 (43,597 ) Income/(loss) attributable to noncontrolling interests, net of taxes - 2,476 2,476 Net income/(loss) $ (46,073 ) $ - $ (46,073 ) Six Months Ended June 30, 2021 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 6,941 $ (2,127 ) $ 4,814 Operating loss (12,008 ) (4,768 ) (16,776 ) Total other income, net 74,903 4,394 79,297 Income/(loss) before noncontrolling interests 48,285 (374 ) 47,911 Income/(loss) attributable to noncontrolling interests, net of taxes - (360 ) (360 ) Net income/(loss) $ 48,285 $ (14 ) $ 48,271
Schedule of Variable Interest Entities [Table Text Block]	June 30, December 31, 2022 2021 Cash and cash equivalents $ 1,495 $ 1,911 Investments in securities 9,411 11,227 Receivable from brokers 27 1,106 Investments in partnerships and affiliates - - Investments in marketable securities held in trust 175,420 175,109 Other assets 33 103 Accrued expenses and other liabilities (1) (6,569 ) (7,074 ) PMV warrant liability (908 ) (5,280 ) Redeemable noncontrolling interests (165,437 ) (162,314 ) Nonredeemable noncontrolling interests 1,437 1,757 AC Group's net interests in consolidated VIEs $ 14,909 $ 16,545

Note E - Fair Value (Tables)

Note E - Fair Value (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	June 30, 2022 Assets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Cash equivalents $ 342,351 $ - $ - $ 342,351 Investments in securities (including GBL stock): Trading - U.S. Treasury Bills 24,979 - - 24,979 Common stocks 237,409 2,046 2,097 241,552 Mutual funds 923 - - 923 Other 3,885 1,164 234 5,283 Total investments in securities 267,196 3,210 2,331 272,737 Investments in affiliated registered investment companies: Closed-end funds 48,174 - 10,400 58,574 Mutual funds 65,909 - - 65,909 Total investments in affiliated registered investment companies 114,083 - 10,400 124,483 Total investments held at fair value 381,279 3,210 12,731 397,220 Total assets at fair value $ 723,630 $ 3,210 $ 12,731 $ 739,571 Liabilities Common stocks $ 2,297 $ - $ - $ 2,297 Other 808 464 - 1,272 Securities sold, not yet purchased 3,105 464 - 3,569 PMV warrant liability 908 - - 908 Total liabilities at fair value $ 4,013 $ 464 $ - $ 4,477 December 31, 2021 Assets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Cash equivalents $ 314,172 $ - $ - $ 314,172 Investments in securities (including GBL stock): Trading - U.S. Treasury Bills 60,996 - - 60,996 Common stocks 260,763 2,320 2,073 265,156 Mutual funds 1,351 - - 1,351 Other 4,833 1,220 527 6,580 Total investments in securities 327,943 3,540 2,600 334,083 Investments in affiliated registered investment companies: Closed-end funds 56,381 - 8,000 64,381 Mutual funds 70,167 - - 70,167 Total investments in affiliated registered investment companies 126,548 - 8,000 134,548 Total investments held at fair value 454,491 3,540 10,600 468,631 Total assets at fair value $ 768,663 $ 3,540 $ 10,600 $ 782,803 Liabilities Common stocks $ 9,838 $ - $ - $ 9,838 Other 1,959 1,108 - 3,067 Securities sold, not yet purchased 11,797 1,108 - 12,905 PMV warrant liability 5,280 - - 5,280 Total liabilities at fair value $ 17,077 $ 1,108 $ - $ 18,185
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Total Total Total Total Assets: Beginning balance $ 12,720 $ 6,154 $ 10,600 $ 6,498 Total gains/(losses) 20 (19 ) 70 (49 ) Purchases - - 2,400 44 Sales (9 ) - (339 ) - Transfers - - - (358 ) Ending balance $ 12,731 $ 6,135 $ 12,731 $ 6,135 Changes in net unrealized gain/(loss) included in Net gain/(loss) from investments related to level 3 assets still held as of the reporting date $ 20 $ (19 ) $ 70 $ (49 )
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Liabilities: Total Total Total Total Beginning balance $ - $ - $ - $ - Total (gains)/losses - (825 ) - (825 ) Issuances - 8,333 - 8,333 Transfers - - - - Ending balance $ - $ 7,508 $ - $ 7,508 Changes in net unrealized (gain)/loss included in Net gain/(loss) from investments related to level 3 liabilities still held as of the reporting date $ - $ (825 ) $ - $ (825 )
Fair Value Measurements, Nonrecurring [Table Text Block]	June 30, 2022 December 31, 2021 Assets Level within Fair Value Hierarchy Fair Value Amortized Cost Level within Fair Value Hierarchy Fair Value Amortized Cost Investment in note receivable from affiliate (1) - $ - $ - 2 $ 5,066 $ 5,066 Total assets $ - $ - $ 5,066 $ 5,066

Note G - Earnings Per Share (Ta

Note G - Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share amounts) 2022 2021 2022 2021 Income/(loss) before noncontrolling interests $ (30,092 ) $ 29,184 $ (43,597 ) $ 47,911 Less: Income/(loss) attributable to noncontrolling interests (205 ) (532 ) 2,476 (360 ) Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders $ (29,887 ) $ 29,716 $ (46,073 ) $ 48,271 Weighted average number of shares of Common Stock outstanding - basic 22,036 22,118 22,045 22,169 Weighted average number of shares of Common Stock outstanding - diluted 22,036 22,118 22,045 22,169 Basic and Diluted EPS $ (1.36 ) $ 1.34 $ (2.09 ) $ 2.18

Note H - Equity (Tables)

Note H - Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Share-Based Payment Arrangement, Cost by Plan [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Stock-based compensation expense $ (117 ) $ 483 $ 322 $ 858 Remaining expense to be recognized, if all vesting conditions are met(1) 4,493 7,034 Weighted average remaining contractual term (in years) 2.0 2.4
Share-Based Payment Arrangement, Activity [Table Text Block]	PRSA's Weighted Average Grant Date Fair Value Balance at December 31, 2021 222,905 $ 36.03 Granted - - Forfeited (945 ) 37.40 Vested - - Balance at March 31, 2022 221,960 $ 36.02 Granted - - Forfeited (6,050 ) 35.63 Vested - - Balance at June 30, 2022 215,910 $ 36.04
Class of Treasury Stock [Table Text Block]	Number of shares purchased Average price per share Remaining repurchase authorization December 31, 2021 677,144 Share repurchase plan (1) (7,536 ) $ 38.84 Remaining repurchase authorization March 31, 2022 669,608 Share repurchase plan (1) (35,292 ) $ 37.32 Remaining repurchase authorization June 30, 2022 634,316 Remaining repurchase authorization December 31, 2020 893,102 Share repurchase plan (1) (119,087 ) $ 35.24 Remaining repurchase authorization March 31, 2021 774,015 Share repurchase plan (1) (53,992 ) $ 35.06 Remaining repurchase authorization June 30, 2021 720,023

Note A - Organization (Details

Note A - Organization (Details Textual) - USD ($) $ in Thousands			6 Months Ended
	Sep. 22, 2020	Nov. 30, 2015	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Assets, Total			$ 1,120,015		$ 1,203,336
Liabilities, Total			30,831		65,534
Redeemable Noncontrolling Interest, Equity, Carrying Amount, Total			203,327		202,456
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance			(1,437)		$ (1,756)
Payments to Acquire Marketable Securities			$ 0	$ 175,076
GAMCO Class A Common Stock [Member]
Number of Shares Purchased in Spin-off (in shares)		4,393,055
Payments to Acquire Marketable Securities		$ 150,000
Number of Shares Held (in shares)			2,417,500		2,417,500
GAMCO Investors [Member]
Number of Shares of Common Stock Issued for Each Share of Common Stock of Parent Company in Spin-off (in shares)		1
Number of Shares of Parent Company Common Stock Exchanged for Each Share of Common Stock Issued in Connection with Spin-Off (in shares)		1
PMV and the Sponsor [Member]
Assets, Total			$ 162,000		$ 163,800
Liabilities, Total			7,200		11,500
Redeemable Noncontrolling Interest, Equity, Carrying Amount, Total			165,000		161,800
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance			$ (1,400)		$ (1,800)
Initial Public Offering of P M V Consumer Acquisition Corp. [Member]
Proceeds from Issuance Initial Public Offering	$ 175,000
Initial Public Offering of P M V Consumer Acquisition Corp. [Member] | Minimum [Member]
Enterprise Valuation Amount	200,000
Initial Public Offering of P M V Consumer Acquisition Corp. [Member] | Maximum [Member]
Enterprise Valuation Amount	$ 3,500,000

Note B - Revenue - Disaggregati

Note B - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Total revenues	$ 2,546	$ 2,489	$ 5,128	$ 4,814
Asset Based Advisory Fees [Member]
Total revenues	1,309	1,249	2,613	2,432
Performance Based Advisory Fees [Member]
Total revenues	0	47	44	56
Sub Advisory Fees [Member]
Total revenues	1,142	1,092	2,280	2,125
Investment Advice [Member]
Total revenues	2,451	2,388	4,937	4,613
Other Miscellaneous Revenues [Member]
Total revenues	$ 95	$ 101	$ 191	$ 201

Note C - Investments in Secur_3

Note C - Investments in Securities (Details Textual) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Dec. 31, 2021
Marketable Securities, Held in Trust, Fair Value	[1]	$ 175,420		$ 175,420	$ 175,109
Puttable Subordinated Note [Member]
Debt Instrument, Term (Year)				2 years
Put Option [Member]
Proceeds from Collection of Advance to Affiliate		5,100		$ 5,100
Gain (Loss) on Investments in and Advances to Affiliates		0	$ 0
Fair Value, Inputs, Level 1 [Member]
Marketable Securities, Held in Trust, Fair Value		$ 175,000		$ 175,000	$ 175,000
[1]At June 30, 2022 and December 31, 2021, marketable securities held in the trust account through PMV were comprised of U.S Treasury Bills which mature in less than one year with an amortized cost and fair value of approximately $175 million, respectively. Such investments are categorized as Level 1.

Note C - Investments in Secur_4

Note C - Investments in Securities - Investments in Securities (Details) - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021
Investments in U.S. Treasury Bills with greater than 3 month maturities		$ 24,979	$ 60,996
Equity Securities		266,893	246,160
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)		247,758	273,087
Total investments in securities		291,835	307,152
Total investments in securities, fair value		272,737	334,083
Investments in marketable securities held in trust(1)	[1]	175,420	175,109
Investments in marketable securities held in trust, fair value	[1]	175,420	175,109
US Treasury Bill Securities [Member]
U.S. Treasury Bills		24,942	60,992
Investments in U.S. Treasury Bills with greater than 3 month maturities		24,979	60,996
Common Stock [Member]
Equity Securities		260,604	239,383
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)		241,552	265,156
Mutual Fund [Member]
Equity Securities		536	524
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)		923	1,351
Other Investments [Member]
Equity Securities		5,753	6,253
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)		$ 5,283	$ 6,580
[1]At June 30, 2022 and December 31, 2021, marketable securities held in the trust account through PMV were comprised of U.S Treasury Bills which mature in less than one year with an amortized cost and fair value of approximately $175 million, respectively. Such investments are categorized as Level 1.

Note C - Investments in Secur_5

Note C - Investments in Securities - Investments in Affiliated Companies (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Investments in affiliated registered investment companies	$ 124,483	$ 134,548
Investment in registered investment companies, cost	94,712	91,846
Closed End Funds [Member]
Investments in affiliated registered investment companies	58,574	64,381
Investment in registered investment companies, cost	45,067	42,484
Mutual Fund [Member]
Investments in affiliated registered investment companies	65,909	70,167
Investment in registered investment companies, cost	49,645	49,362
Notes Receivable [Member]
Investment in note receivable from affiliate, amortized cost	0	5,066	[1]
Investment in note receivable from affiliate, unrealized holding gains	0	0	[1]
Investment in note receivable from affiliate, unrealized holding losses	0	0	[1]
Investments in affiliated registered investment companies	$ 0	$ 5,066	[1]
[1]Investment in note receivable from affiliate relates to 2-Year Puttable and Callable Subordinated Notes due 2023 issued as part of a 2021 special dividend on GAMCO’s Class A Common Stock and Class B Common Stock. The Company had the intent to hold these investments until maturity, and as such they were recorded at amortized cost.

Note C - Investments in Secur_6

Note C - Investments in Securities - Securities Sold, Not Yet Purchased (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Total securities sold, not yet purchased, cost	$ 3,672	$ 11,788
Total securities sold, not yet purchased, fair value	3,569	12,905
Common Stock [Member]
Total securities sold, not yet purchased, cost	2,999	9,021
Total securities sold, not yet purchased, fair value	2,297	9,838
Other Investments [Member]
Total securities sold, not yet purchased, cost	673	2,767
Total securities sold, not yet purchased, fair value	$ 1,272	$ 3,067

Note D - Investment Partnersh_3

Note D - Investment Partnerships and Other Entities (Details Textual) - USD ($)		6 Months Ended
	Sep. 24, 2020	Jun. 30, 2022	Dec. 31, 2021
Investments in Unaffiliated Entities		$ 36,400,000	$ 41,900,000
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures, Total		110,200,000	112,600,000
Direct Investment in Partnership and Variable Interest Entity		$ 4,000,000
Partnership and VIE Investment, Percentage		62%
Partnership and VIE Investment Commitment Amount		$ 6,480,000
Assets, Total		1,120,015,000	1,203,336,000
Liabilities, Total		30,831,000	65,534,000
Redeemable Noncontrolling Interest, Equity, Carrying Amount, Total		203,327,000	202,456,000
P M V Consumer Acquisition Corp [Member]
Units Issued, Price Per Unit (in dollars per share)	$ 10
Value of Warrants Owed by Sponsor		6,150,000
Proceeds From Issuance Initial Public Offering and Warrants	$ 175,000,000
P M V Consumer Acquisition Corp [Member] | Common Class A [Member]
Noncontrolling Interest in Variable Interest Entity		10,000,000
Voting Interest Entities [Member]
Assets, Total		103,600,000	109,300,000
Liabilities, Total		7,800,000	8,400,000
Redeemable Noncontrolling Interest, Equity, Carrying Amount, Total		37,900,000	40,100,000
Net Assets, Ending Balance		$ 57,900,000	$ 60,800,000
IPO [Member] | P M V Consumer Acquisition Corp [Member]
Units Issued During Period, Units, New Issues (in shares)	17,500,000
Units Issued, Price Per Unit (in dollars per share)	$ 10
Proceeds from Issuance Initial Public Offering	$ 175,000,000
IPO [Member] | P M V Consumer Acquisition Corp [Member] | PMV Public Warrant [Member]
Number of Securities Called Per Unit (in shares)	0.5
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)	1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 11.50
IPO [Member] | P M V Consumer Acquisition Corp [Member] | Private Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 1
Class Of Warrant Or Right, Issued (in shares)	6,150,000
Proceeds from Issuance of Warrants	$ 6,150,000
IPO [Member] | P M V Consumer Acquisition Corp [Member] | Common Class A [Member]
Number of Securities Called Per Unit (in shares)	1
Minimum [Member]
Notice Period for Redeeming Investments in Unaffiliated Entities (Day)		30 days
Maximum [Member]
Notice Period for Redeeming Investments in Unaffiliated Entities (Day)		95 days

Note D - Investment Partnersh_4

Note D - Investment Partnerships and Other Entities - Net Impact of the Consolidated Investment Partnerships and Other Entities on the Statements of Financial Condition (Details) - USD ($) $ in Thousands		Jun. 30, 2022		Mar. 31, 2022	Dec. 31, 2021		Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Cash and cash equivalents		$ 344,258			$ 319,048		$ 269,271
Investments in U.S. Treasury Bills		24,979			60,996
Investments in affiliated registered investment companies		124,483			134,548
Receivable from brokers		22,184			42,478
Investment advisory fees receivable		1,324			8,315
Other assets	[1]	32,989			35,295
Investments in marketable securities held in trust	[2]	175,420			175,109
Total assets		1,120,015			1,203,336
Securities sold, not yet purchased		3,569			12,905
Accrued expenses and other liabilities	[1]	27,262			52,629
Redeemable noncontrolling interests		203,327			202,456
Total equity		885,857	[3]	$ 918,188	935,346	[3]	$ 932,465	$ 915,746	$ 901,389
Total liabilities and equity		1,120,015			1,203,336
Consolidated Entity, Excluding Consolidated Entities [Member]
Cash and cash equivalents		343,177			315,009
Investments in U.S. Treasury Bills		24,979			60,996
Investments in affiliated registered investment companies		174,032			186,474
Receivable from brokers		9,631			21,993
Investment advisory fees receivable		1,329			8,320
Other assets	[1]	37,768			39,400
Investments in marketable securities held in trust		0			0
Total assets		912,149			991,104
Securities sold, not yet purchased		3,153			11,199
Accrued expenses and other liabilities	[1]	12,802			33,825
Redeemable noncontrolling interests		0			0
Total equity	[3]	896,194			946,080
Total liabilities and equity		912,149			991,104
Consolidated Entities [Member]
Cash and cash equivalents		1,081			4,039
Investments in U.S. Treasury Bills		0			0
Investments in affiliated registered investment companies		(49,549)			(51,926)
Receivable from brokers		12,553			20,485
Investment advisory fees receivable		(5)			(5)
Other assets	[1]	(4,779)			(4,105)
Investments in marketable securities held in trust		175,420			175,109
Total assets		207,866			212,232
Securities sold, not yet purchased		416			1,706
Accrued expenses and other liabilities	[1]	14,460			18,804
Redeemable noncontrolling interests		203,327			202,456
Total equity	[3]	(10,337)			(10,734)
Total liabilities and equity		$ 207,866			$ 212,232
[1]Represents the summation of multiple captions from the condensed consolidated statements of financial condition.[2]At June 30, 2022 and December 31, 2021, marketable securities held in the trust account through PMV were comprised of U.S Treasury Bills which mature in less than one year with an amortized cost and fair value of approximately $175 million, respectively. Such investments are categorized as Level 1.[3]Debit adjustments to Total equity reflect the amortization of the discount related to the issuance of PMV SPAC’s redeemable noncontrolling interest. The discount is amortized through an adjustment to additional paid-in capital and noncontrolling interest (proportionate to ownership interest in PMV Sponsor) and is also adjusted periodically for income/loss allocated to redeemable noncontrolling interest.

Note D - Investment Partnersh_5

Note D - Investment Partnerships and Other Entities - Net Impact of Consolidated Entities on the Statements of Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Total revenues	$ 2,546	$ 2,489	$ 5,128	$ 4,814
Operating loss	(2,211)	(10,411)	(5,517)	(16,776)
Total other income/(loss), net	(35,917)	48,615	(50,964)	79,297
Net income/(loss)	(30,092)	29,184	(43,597)	47,911
Income/(loss) attributable to noncontrolling interests	(205)	(532)	2,476	(360)
Net income/(loss)	(29,887)	29,716	(46,073)	48,271
Consolidated Entity, Excluding Consolidated Entities [Member]
Total revenues	2,734	4,801	5,506	6,941
Operating loss	(1,462)	(6,156)	(4,103)	(12,008)
Total other income/(loss), net	(36,461)	44,847	(54,854)	74,903
Net income/(loss)	(29,887)	29,671	(46,073)	48,285
Income/(loss) attributable to noncontrolling interests	0	0	0	0
Net income/(loss)	(29,887)	29,671	(46,073)	48,285
Consolidated Entities [Member]
Total revenues	(188)	(2,312)	(378)	(2,127)
Operating loss	(749)	(4,255)	(1,414)	(4,768)
Total other income/(loss), net	544	3,768	3,890	4,394
Net income/(loss)	(205)	(487)	2,476	(374)
Income/(loss) attributable to noncontrolling interests	(205)	(532)	2,476	(360)
Net income/(loss)	$ 0	$ 45	$ 0	$ (14)

Note D - Investment Partnersh_6

Note D - Investment Partnerships and Other Entities - Balances Related to VIEs (Details) - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Cash and cash equivalents (includes U.S. Treasury Bills with maturities of less than 3 months)		$ 344,258	$ 319,048	$ 269,271
Receivable from brokers		22,184	42,478
Investments in partnerships and affiliates		110,200	112,600
Marketable Securities, Held in Trust, Fair Value	[1]	175,420	175,109
Other assets		21,189	21,682
PMV warrant liability		(908)	(5,280)
Redeemable noncontrolling interests		(203,327)	(202,456)
Variable Interest Entity, Primary Beneficiary [Member]
Cash and cash equivalents (includes U.S. Treasury Bills with maturities of less than 3 months)		1,495	1,911
Investments in securities	[2]	9,411	11,227
Receivable from brokers		27	1,106
Investments in partnerships and affiliates		0	0
Marketable Securities, Held in Trust, Fair Value		175,420	175,109
Other assets		33	103
Accrued expenses and other liabilities(1)		(6,569)	(7,074)
PMV warrant liability		(908)	(5,280)
Redeemable noncontrolling interests		(165,437)	(162,314)
Nonredeemable noncontrolling interests		1,437	1,757
AC Group's net interests in consolidated VIEs		$ 14,909	$ 16,545
[1]At June 30, 2022 and December 31, 2021, marketable securities held in the trust account through PMV were comprised of U.S Treasury Bills which mature in less than one year with an amortized cost and fair value of approximately $175 million, respectively. Such investments are categorized as Level 1.[2]Represents the summation of multiple captions from the condensed consolidated statements of financial condition.

Note E - Fair Value (Details Te

Note E - Fair Value (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net, Total	$ 0	$ 0	$ 0	$ (358)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3				$ 400

Note E - Fair Value - Assets an

Note E - Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Investments in U.S. Treasury Bills with greater than 3 month maturities	$ 24,979	$ 60,996
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	247,758	273,087
Total investments in securities	272,737	334,083
Securities sold, not yet purchased	3,569	12,905
PMV warrant liability	908	5,280
US Treasury Bill Securities [Member]
Investments in U.S. Treasury Bills with greater than 3 month maturities	24,979	60,996
Common Stock [Member]
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	241,552	265,156
Mutual Fund [Member]
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	923	1,351
Other Investments [Member]
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	5,283	6,580
Fair Value, Recurring [Member]
Cash equivalents	342,351	314,172
Total investments in securities	272,737	334,083
Investments in affiliated registered investment companies	124,483	134,548
Investment, fair value	397,220	468,631
Total assets at fair value	739,571	782,803
Securities sold, not yet purchased	3,569	12,905
PMV warrant liability	908	5,280
Total liabilities at fair value	4,477	18,185
Fair Value, Recurring [Member] | US Treasury Bill Securities [Member]
Investments in U.S. Treasury Bills with greater than 3 month maturities	24,979	60,996
Fair Value, Recurring [Member] | Common Stock [Member]
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	241,552	265,156
Securities sold, not yet purchased	2,297	9,838
Fair Value, Recurring [Member] | Mutual Fund [Member]
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	923	1,351
Investments in affiliated registered investment companies	65,909	70,167
Fair Value, Recurring [Member] | Other Investments [Member]
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	5,283	6,580
Securities sold, not yet purchased	1,272	3,067
Fair Value, Recurring [Member] | Closed End Funds [Member]
Investments in affiliated registered investment companies	58,574	64,381
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Cash equivalents	342,351	314,172
Total investments in securities	267,196	327,943
Investments in affiliated registered investment companies	114,083	126,548
Investment, fair value	381,279	454,491
Total assets at fair value	723,630	768,663
Securities sold, not yet purchased	3,105	11,797
PMV warrant liability	908	5,280
Total liabilities at fair value	4,013	17,077
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury Bill Securities [Member]
Investments in U.S. Treasury Bills with greater than 3 month maturities	24,979	60,996
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Common Stock [Member]
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	237,409	260,763
Securities sold, not yet purchased	2,297	9,838
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member]
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	923	1,351
Investments in affiliated registered investment companies	65,909	70,167
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other Investments [Member]
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	3,885	4,833
Securities sold, not yet purchased	808	1,959
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Closed End Funds [Member]
Investments in affiliated registered investment companies	48,174	56,381
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Cash equivalents	0	0
Total investments in securities	3,210	3,540
Investments in affiliated registered investment companies	0	0
Investment, fair value	3,210	3,540
Total assets at fair value	3,210	3,540
Securities sold, not yet purchased	464	1,108
PMV warrant liability	0	0
Total liabilities at fair value	464	1,108
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury Bill Securities [Member]
Investments in U.S. Treasury Bills with greater than 3 month maturities	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Common Stock [Member]
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	2,046	2,320
Securities sold, not yet purchased	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mutual Fund [Member]
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	0	0
Investments in affiliated registered investment companies	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other Investments [Member]
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	1,164	1,220
Securities sold, not yet purchased	464	1,108
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Closed End Funds [Member]
Investments in affiliated registered investment companies	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Cash equivalents	0	0
Total investments in securities	2,331	2,600
Investments in affiliated registered investment companies	10,400	8,000
Investment, fair value	12,731	10,600
Total assets at fair value	12,731	10,600
Securities sold, not yet purchased	0	0
PMV warrant liability	0	0
Total liabilities at fair value	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Treasury Bill Securities [Member]
Investments in U.S. Treasury Bills with greater than 3 month maturities	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Common Stock [Member]
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	2,097	2,073
Securities sold, not yet purchased	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mutual Fund [Member]
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	0	0
Investments in affiliated registered investment companies	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Investments [Member]
Investments in equity securities (includes GBL stock with a value of $50.5 million and $60.4 million, respectively)	234	527
Securities sold, not yet purchased	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Closed End Funds [Member]
Investments in affiliated registered investment companies	$ 10,400	$ 8,000

Note E - Fair Value - Additiona

Note E - Fair Value - Additional Information About Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Beginning balance	$ 12,720	$ 6,154	$ 10,600	$ 6,498
Total gains/(losses)	20	(19)	70	(49)
Purchases	0	0	2,400	44
Sales	(9)	0	(339)	0
Transfers	0	0	0	(358)
Ending balance	12,731	6,135	12,731	6,135
Changes in net unrealized gain/(loss) included in Net gain/(loss) from investments related to level 3 assets still held as of the reporting date	$ 20	$ (19)	$ 70	$ (49)

Note E - Fair Value, Changes in

Note E - Fair Value, Changes in Level 3 Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Beginning balance	$ 0	$ 0	$ 0	$ 0
Total (gains)/losses	0	(825)	0	(825)
Issuances	0	8,333	0	8,333
Transfers	0	0	0	0
Ending balance	0	7,508	0	7,508
Changes in net unrealized (gain)/loss included in Net gain/(loss) from investments related to level 3 liabilities still held as of the reporting date	$ 0	$ (825)	$ 0	$ (825)

Note E - Fair Value - Financial

Note E - Fair Value - Financial Assets That Are Not Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Investment in note receivable from affiliate(1), fair value	[1]	$ 0		$ 5,066
Investment in note receivable from affiliate(1), amortized cost	[1]	0		5,066
Total assets		1,120,015	$ 1,203,336
Fair Value, Nonrecurring [Member]
Total assets, fair value		0		5,066
Total assets		$ 0		$ 5,066
[1]Included in Receivable and investment in note receivable from affiliates in the condensed consolidated statements of financial condition.

Note F - Income Taxes (Details

Note F - Income Taxes (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Percent, Total	22.80%	23.30%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%
Deferred Tax Liabilities, Net, Total	$ 8,000
Deferred Tax Assets, Valuation Allowance	1,500		$ 1,300
Unrecognized Tax Benefits, Ending Balance	$ 0		$ 0

Note G - Earnings Per Share - C

Note G - Earnings Per Share - Computations of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net income/(loss)	$ (30,092)	$ 29,184	$ (43,597)	$ 47,911
Income/(loss) attributable to noncontrolling interests	(205)	(532)	2,476	(360)
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	$ (29,887)	$ 29,716	$ (46,073)	$ 48,271
Weighted average number of shares of Common Stock outstanding - basic (in shares)	22,036	22,118	22,045	22,169
Weighted average number of shares of Common Stock outstanding - diluted (in shares)	22,036	22,118	22,045	22,169
Basic (in dollars per share)	$ (1.36)	$ 1.34	$ (2.09)	$ 2.18

Note H - Equity (Details Textua

Note H - Equity (Details Textual) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares	Mar. 31, 2022 USD ($) shares	Jun. 30, 2021 USD ($) $ / shares shares	Mar. 31, 2021 USD ($) shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 shares	May 08, 2018 shares	Aug. 03, 2017 shares	Feb. 07, 2017 shares	Dec. 31, 2015 shares
Employee-related Liabilities, Total | $	$ 5,941				$ 5,941		$ 19,730
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares) | shares									500,000	1,000,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares) | shares	634,316	669,608	720,023	774,015	634,316	720,023	677,144	893,102			500,000
Treasury Stock, Value, Acquired, Cost Method | $	$ 1,317	$ 293	$ 1,893	$ 4,198	$ 1,600	$ 6,100
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares	$ 0.10		$ 0.10
Maximum [Member]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares) | shares												500,000
Phantom Restricted Stock Award [Member]
Employee-related Liabilities, Total | $	$ 3,300				$ 3,300		$ 3,000
Phantom Restricted Stock Award [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	30%
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	3 years
Phantom Restricted Stock Award [Member] | Share-Based Payment Arrangement, Tranche Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	70%
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	5 years
Common Class A [Member]
Number of Votes Per Share	1
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares	$ 0.10		0.10		$ 0.10	$ 0.10
Common Class B [Member]
Number of Votes Per Share	10
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares	$ 0.10		$ 0.10		$ 0.10	$ 0.10

Note H - Equity - Summary of St

Note H - Equity - Summary of Stock-based Compensation and Unrecognized Compensation (Details) - Phantom Restricted Stock Award [Member] - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock-based compensation expense		$ (117)	$ 483	$ 322	$ 858
Remaining expense to be recognized, if all vesting conditions are met(1)	[1]	$ 4,493	$ 7,034	$ 4,493	$ 7,034
Weighted average remaining contractual term (in years) (Year)				2 years	2 years 4 months 24 days
[1]Does not include an estimate for projected future dividends.

Note H - Equity - Phantom RSA A

Note H - Equity - Phantom RSA Activity (Details) - Phantom Restricted Stock Award [Member] - $ / shares	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
Balance, shares (in shares)	221,960	222,905
Balance, weighted average grant date fair value (in dollars per share)	$ 36.02	$ 36.03
Granted, shares (in shares)	0	0
Granted, weighted average grant date fair value (in dollars per share)	$ 0	$ 0
Forfeited, shares (in shares)	(6,050)	(945)
Forfeited, weighted average grant date fair value (in dollars per share)	$ 35.63	$ 37.40
Vested, shares (in shares)	0	0
Vested, weighted average grant date fair value (in dollars per share)	$ 0	$ 0
Balance, shares (in shares)	215,910	221,960
Balance, weighted average grant date fair value (in dollars per share)	$ 36.04	$ 36.02

Note H - Equity - Stock Repurch

Note H - Equity - Stock Repurchase Activity (Details) - $ / shares		3 Months Ended
		Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021
Remaining repurchase authorization (in shares)		669,608	677,144	774,015	893,102
Share repurchase plan (1) (in shares)	[1]	(35,292)	(7,536)	(53,992)	(119,087)
Share repurchase plan (1) (in dollars per share)	[1]	$ 37.32	$ 38.84	$ 35.06	$ 35.24
Remaining repurchase authorization (in shares)		634,316	669,608	720,023	774,015
[1]Repurchases totaled $1.3 million and $1.9 million for the three-month periods ended June 30, 2022 and 2021, respectively. Repurchases totaled $1.6 million and $6.1 million for the six-month periods ended June 30, 2022 and 2021, respectively.

Note I - Goodwill (Details Text

Note I - Goodwill (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Goodwill, Ending Balance	$ 3,519		$ 3,519
Goodwill, Impairment Loss	0	$ 0
Gabelli Company Investment Advisers Inc [Member]
Goodwill, Ending Balance	$ 3,400

Note K - Subsequent Events (Det

Note K - Subsequent Events (Details Textual) - $ / shares		1 Months Ended	3 Months Ended
		Aug. 05, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021
Treasury Stock, Shares, Acquired (in shares)	[1]		35,292	7,536	53,992	119,087
Treasury Stock Acquired, Average Cost Per Share (in dollars per share)	[1]		$ 37.32	$ 38.84	$ 35.06	$ 35.24
Subsequent Event [Member]
Treasury Stock, Shares, Acquired (in shares)		4,100
Treasury Stock Acquired, Average Cost Per Share (in dollars per share)		$ 36.42
[1]Repurchases totaled $1.3 million and $1.9 million for the three-month periods ended June 30, 2022 and 2021, respectively. Repurchases totaled $1.6 million and $6.1 million for the six-month periods ended June 30, 2022 and 2021, respectively.