Associated Capital (AC) 10-Q 14 Nov 22 2022 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 07, 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	Q3
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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		3,039,448

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents (includes U.S. Treasury Bills with maturities of less than 3 months)		$ 288,178	$ 319,048
Investments in U.S. Treasury Bills with greater than 3 month maturities		133,755	60,996
Investments in equity securities (includes GBL stock with a value of $41.2 million and $60.4 million, respectively)		238,974	273,087
Investments in affiliated registered investment companies		121,863	134,548
Investments in partnerships		149,083	154,460
Receivable from brokers		18,163	42,478
Investment advisory fees receivable		1,293	8,315
Receivable and investment in note receivable from affiliates		135	10,094
Income taxes receivable, including deferred tax assets, net		13,170	0
Goodwill		3,519	3,519
Other assets		18,628	21,682
Investments in marketable securities held in trust	[1]	0	175,109
Total assets		986,761	1,203,336
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Payable to brokers		56,356	9,339
Income taxes payable, including deferred tax liabilities, net		0	8,575
Compensation payable		7,662	19,730
Securities sold, not yet purchased		3,181	12,905
Accrued expenses and other liabilities		1,528	3,580
Tendered redeemable noncontrolling interests payable		29,001	0
Deferred underwriting fee payable		0	6,125
PMV warrant liability		0	5,280
Total liabilities		97,728	65,534
Redeemable noncontrolling interests		9,778	202,456
Commitments and contingencies (Note J)
Equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued and outstanding		0	0
Additional paid-in capital		999,047	990,069
Retained earnings		3,661	68,435
Treasury stock, at cost (3,588,665 and 3,534,085 shares, respectively)		(123,478)	(121,427)
Total Associated Capital Group, Inc. equity		879,255	937,102
Noncontrolling interests		0	(1,756)
Total equity	[2]	879,255	935,346
Total liabilities and equity		986,761	1,203,336
Common Class A [Member]
Equity:
Common stock		6	6
Common Class B [Member]
Equity:
Common stock		$ 19	$ 19
[1]At 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. Such investments were 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	Sep. 30, 2022	Dec. 31, 2021
Stock value	$ 238,974	$ 273,087
Preferred stock, par value (in dollars per share)	$ 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)	22,004,000
Treasury stock shares (in shares)	3,588,665	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)	3,040,753	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	$ 41,200	$ 60,400

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Total revenues	$ 2,562	$ 2,112	$ 7,690	$ 6,926
Expenses
Compensation	3,591	2,819	10,531	11,710
Management fee	0	226	0	7,209
Other operating expenses	2,100	(764)	5,805	4,952
Total expenses	5,691	2,281	16,336	23,871
Operating loss	(3,129)	(169)	(8,646)	(16,945)
Other income/(loss)
Net gain/(loss) from investments	(19,314)	5,676	(72,727)	79,303
Interest and dividend income	2,797	1,119	5,533	9,119
Interest expense	(66)	(97)	(145)	(251)
Shareholder-designated contribution	(1,206)	(541)	(1,414)	(2,717)
Total other income/(loss), net	(17,789)	6,157	(68,753)	85,454
Income/(loss) before income taxes	(20,918)	5,988	(77,399)	68,509
Income tax expense/(benefit)	(4,914)	484	(17,798)	15,094
Income/(loss) before noncontrolling interests	(16,004)	5,504	(59,601)	53,415
Less: Income/(loss) attributable to noncontrolling interests	494	4,001	2,970	3,641
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	$ (16,498)	$ 1,503	$ (62,571)	$ 49,774
Net income/(loss) per share attributable to Associated Capital Group, Inc.'s shareholders:
Basic and Diluted EPS (in dollars per share)	$ (0.75)	$ 0.07	$ (2.84)	$ 2.25
Diluted (in dollars per share)	$ (0.75)	$ 0.07	$ (2.84)	$ 2.25
Weighted average shares outstanding:
Basic (in shares)	22,010	22,084	22,033	22,141
Diluted (in shares)	22,010	22,084	22,033	22,141
Actual shares outstanding (in shares)	22,004	22,062	22,004	22,062
Investment Advice [Member]
Revenues
Total revenues	$ 2,472	$ 2,014	$ 7,409	$ 6,627
Financial Service, Other [Member]
Revenues
Total revenues	$ 90	$ 98	$ 281	$ 299

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net income/(loss) before noncontrolling interests	$ (16,004)	$ 5,504	$ (59,601)	$ 53,415
Less: Comprehensive income/(loss) attributable to noncontrolling interests	494	4,001	2,970	3,641
Comprehensive income/(loss) attributable to Associated Capital Group, Inc.	$ (16,498)	$ 1,503	$ (62,571)	$ 49,774

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
Net income/(loss)	0	18,555	0	0	18,555	0	172	18,555
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								(7,500)
Balance at Sep. 30, 2021	25	61,212	992,018	(121,270)	931,985	(797)	199,793	931,188
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
Net income/(loss)	0	29,716	0	0	29,716	0	(532)	29,716
Balance at Jun. 30, 2021	25	59,709	993,046	(119,874)	932,906	(441)	196,569	932,465
Redemptions of noncontrolling interests	0	0	0	0	0	0	(2,161)	0
Net income/(loss)	0	1,503	0	0	1,503	122	3,879	1,625
Purchase of treasury stock	0	0	0	(1,396)	(1,396)	0	0	(1,396)
Accretion of redeemable noncontrolling interest	0	0	(1,028)	0	(1,028)	(478)	1,506	(1,506)
Accretion of redeemable noncontrolling interest	0	0	1,028	0	1,028	478	(1,506)	1,506
Net income/(loss)	0	1,503	0	0	1,503	122	3,879	1,625
Balance at Sep. 30, 2021	25	61,212	992,018	(121,270)	931,985	(797)	199,793	931,188
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
Net income/(loss)	0	(16,186)	0	0	(16,186)	197	2,484	(15,989)
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								(2,100)
Balance at Sep. 30, 2022	25	3,661	999,047	(123,478)	879,255	0	9,778	879,255	[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
Net income/(loss)	0	(29,887)	0	0	(29,887)	83	(288)	(29,804)
Balance at Jun. 30, 2022	25	20,159	990,147	(123,037)	887,294	(1,437)	203,327	885,857
Redemptions of noncontrolling interests	0	0	0	0	0	0	(29,001)	0
Net income/(loss)	0	(16,498)	0	0	(16,498)	0	494	(16,498)
Purchase of treasury stock	0	0	0	(441)	(441)	0	0	(441)
Accretion of redeemable noncontrolling interest	0	0	(8,900)	0	(8,900)	(4,305)	13,205	(13,205)
Other changes to redeemable noncontrolling interests	0	0	0	0	0	0	263	0
Accretion of redeemable noncontrolling interest	0	0	8,900	0	8,900	4,305	(13,205)	13,205
Effect of deconsolidation	0	0	0	0	0	(2,868)	(152,100)	(2,868)
Net income/(loss)	0	(16,498)	0	0	(16,498)	0	494	(16,498)
Balance at Sep. 30, 2022	$ 25	$ 3,661	$ 999,047	$ (123,478)	$ 879,255	$ 0	$ 9,778	$ 879,255	[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	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Income/(loss) before noncontrolling interests	$ (59,601)	$ 53,415
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Equity in net (gains)/losses from partnerships	7,710	(15,530)
Depreciation and amortization	251	289
Deferred income taxes	(17,959)	8,411
Donated securities	517	2,052
Unrealized (gains)/losses on securities	73,569	(39,384)
Dividends received as securities	0	(5,066)
Loss on deconsolidation of subsidiary	3,634	0
Realized gains on sales of securities	(11,684)	(23,860)
(Increase)/decrease in assets:
Investments in trading securities	(89,282)	295,687
Investments in partnerships:
Contributions to partnerships	(6,410)	(13,562)
Distributions from partnerships	5,143	6,333
Receivable from affiliates	4,893	4,148
Receivable from brokers	19,428	(20,646)
Investment advisory fees receivable	6,976	5,989
Income taxes receivable	(1,746)	(507)
Other assets	2,770	697
Increase/(decrease) in liabilities:
Payable to affiliates	0	(2,188)
Payable to brokers	47,017	236,786
Income taxes payable	(2,040)	(3,037)
Compensation payable	(12,068)	(1,260)
Accrued expenses and other liabilities	(1,676)	(696)
Total adjustments	29,043	434,656
Net cash (used in)/provided by operating activities	(30,558)	488,071
Investing activities
Maturities of marketable securities held in trust	0	175,085
Purchases of marketable securities held in trust	0	(175,085)
Purchases of securities	(5,882)	(2,452)
Proceeds from sales of securities	620	16,724
Return of capital on securities	1,918	38,982
Deconsolidation of subsidiary cash	(1,471)	0
Proceeds from maturities of debt securities held to maturity	5,066	0
Net cash provided by investing activities	251	53,254
Financing activities
Dividends paid	(2,203)	(2,211)
Purchase of treasury stock	(2,051)	(7,487)
Redemptions of redeemable noncontrolling interests	(1,196)	(1,360)
Net cash used in financing activities	(5,450)	(11,058)
Net (decrease)/increase in cash, cash equivalents and restricted cash	(35,757)	530,267
Cash, cash equivalents and restricted cash at beginning of period	328,594	39,509
Cash, cash equivalents and restricted cash at end of period	292,837	569,776
Supplemental disclosures of cash flow information:
Cash paid for interest	145	252
Cash paid for taxes	3,947	10,296
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)	288,178	569,776
Restricted cash included in receivable from broker	4,659	0
Cash, cash equivalents and restricted cash	$ 292,837	$ 569,776

Note A - Organization

Note A - Organization	9 Months Ended
	Sep. 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. PMV Consumer Acquisition Corp. ("PMV"), a special purpose acquisition corporation, and its sponsor, PMV Consumer Acquisition Holding Company, LLC (“Sponsor”, collectively "Consolidated PMV") were previously consolidated in the financial statements of AC because AC had a controlling financial interest in these entities. Commencing in August 2022, no As of December 31, 2021, See Note E in our 10 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 September 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. The details on the impact of consolidating certain partnership 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	9 Months Ended
	Sep. 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 nine September 30, 2022 2021 Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Investment advisory and incentive fees Asset-based advisory fees $ 1,269 $ 1,280 $ 3,882 $ 3,712 Performance-based advisory fees 2 64 46 120 Sub-advisory fees 1,201 670 3,481 2,795 Sub-total 2,472 2,014 7,409 6,627 Other Miscellaneous 90 98 281 299 Total $ 2,562 $ 2,112 $ 7,690 $ 6,926

Note C - Investments in Securit

Note C - Investments in Securities	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Investments in securities at September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Cost Fair Value Cost Fair Value Debt - Trading Securities: U.S. Treasury Bills $ 133,146 $ 133,755 $ 60,992 $ 60,996 Equity Securities: Common stocks 269,034 233,113 239,383 265,156 Mutual funds 537 929 524 1,351 Other investments 6,284 4,932 6,253 6,580 Total equity securities 275,855 238,974 246,160 273,087 Total investments in securities $ 409,001 $ 372,729 $ 307,152 $ 334,083 Investments in marketable securities held in trust (1) $ - $ - $ 175,109 $ 175,109 ( 1 December 31, 2021 one 1. The Company's held to maturity investments at September 30, 2022 December 31, 2021 September 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 nine September 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 September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Cost Fair Value Cost Fair Value Equity securities: Common stocks $ 2,373 $ 1,725 $ 9,021 $ 9,838 Other investments 670 1,456 2,767 3,067 Total securities sold, not yet purchased $ 3,043 $ 3,181 $ 11,788 $ 12,905 Investments in affiliated registered investment companies at September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Cost Fair Value Cost Fair Value Equity securities: Closed-end funds $ 45,427 $ 56,006 $ 42,484 $ 64,381 Mutual funds 49,763 65,857 49,362 70,167 Total investments in affiliated registered investment companies $ 95,190 $ 121,863 $ 91,846 $ 134,548

Note D - Investment Partnership

Note D - Investment Partnerships and Other Entities	9 Months Ended
	Sep. 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 $35.0 million and $41.9 million at September 30, 2022 December 31, 2021 none Investments in partnerships that are not September 30, 2022 December 31, 2021 Capital may may may No no PMV Consumer Acquisition Corp. Refer to the Company's audited consolidated financial statements included in our Annual Report on Form 10 December 31, 2021 Commencing in August 2022, no We accounted for our remaining interest in PMV (comprising 1 million shares of Class A common stock and 500,000 PMV Public Warrants) at fair value. The initial fair value of these investments was $9.9 million based on the respective closing prices of both instruments on the transaction date. Our investment is recorded in Investments in equity securities in the condensed consolidated statements of financial condition and related earnings or loss from subsequent changes in fair value will be recognized in Net gain/(loss) from investments in the condensed consolidated statements of income. We have continuing involvement with PMV through our ownership interest. We accounted for our remaining interest in the Sponsor (comprising our original $4.0 In 2021 August 2022, not not 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): September 30, 2022 Prior to Consolidated Assets Consolidation Entities As Reported Cash and cash equivalents $ 277,445 $ 10,733 $ 288,178 Investments in U.S. Treasury Bills 133,755 - 133,755 Investments in securities 148,218 90,756 238,974 Investments in affiliated registered investment companies 172,140 (50,277 ) 121,863 Investments in partnerships 165,763 (16,680 ) 149,083 Receivable from brokers 8,796 9,367 18,163 Investment advisory fees receivable 1,299 (6 ) 1,293 Other assets (1) 35,444 8 35,452 Investments in marketable securities held in trust - - - Total assets $ 942,860 $ 43,901 $ 986,761 Liabilities and equity Securities sold, not yet purchased $ 2,427 $ 754 $ 3,181 Payable to brokers and other liabilities (1) 61,178 4,368 65,546 Tendered redeemable noncontrolling interests payable - 29,001 29,001 Redeemable noncontrolling interests - 9,778 9,778 Total equity 879,255 - 879,255 Total liabilities and equity $ 942,860 $ 43,901 $ 986,761 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) Represents the summation of multiple captions from the condensed consolidated statements of financial condition. ( 2 The following table reflects the net impact of the consolidated entities on the condensed consolidated statements of income (in thousands): Three Months Ended September 30, 2022 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 2,723 $ (161 ) $ 2,562 Operating loss (2,359 ) (770 ) (3,129 ) Total other income/(loss), net (19,053 ) 1,264 (17,789 ) Income/(loss) before noncontrolling interests (16,498 ) 494 (16,004 ) Income/(loss) attributable to noncontrolling interests, net of taxes - 494 494 Net income/(loss) $ (16,498 ) $ - $ (16,498 ) Three Months Ended September 30, 2021 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 2,657 $ (545 ) $ 2,112 Operating loss (1,821 ) 1,652 (169 ) Total other income, net 3,777 2,380 6,157 Income/(loss) before noncontrolling interests 1,473 4,031 5,504 Income/(loss) attributable to noncontrolling interests, net of taxes - 4,001 4,001 Net income $ 1,473 $ 30 $ 1,503 Nine Months Ended September 30, 2022 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 8,229 $ (539 ) $ 7,690 Operating loss (6,462 ) (2,184 ) (8,646 ) Total other income/(loss), net (73,907 ) 5,154 (68,753 ) Income/(loss) before noncontrolling interests (62,571 ) 2,970 (59,601 ) Income/(loss) attributable to noncontrolling interests, net of taxes - 2,970 2,970 Net income/(loss) $ (62,571 ) $ - $ (62,571 ) Nine Months Ended September 30, 2021 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 9,658 $ (2,732 ) $ 6,926 Operating loss (13,830 ) (3,115 ) (16,945 ) Total other income, net 78,710 6,744 85,454 Income/(loss) before noncontrolling interests 49,788 3,627 53,415 Income/(loss) attributable to noncontrolling interests, net of taxes - 3,641 3,641 Net income/(loss) $ 49,788 $ (14 ) $ 49,774 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): September 30, 2022 December 31, 2021 Cash and cash equivalents $ 13 $ 1,911 Investments in securities 8,306 11,227 Receivable from brokers 137 1,106 Investments in marketable securities held in trust - 175,109 Other assets - 103 Accrued expenses and other liabilities (1) (37 ) (7,074 ) PMV warrant liability - (5,280 ) Redeemable noncontrolling interests (406 ) (162,314 ) Nonredeemable noncontrolling interests - 1,757 AC Group's net interests in consolidated VIEs $ 8,013 $ 16,545 ( 1 Voting Interest Entities We have an investment partnership that is consolidated as a VOE for both 2022 2021 September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 September 30, 2022 September 30, 2022. 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	9 Months Ended
	Sep. 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): September 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 $ 276,423 $ - $ - $ 276,423 Investments in securities (including GBL stock): Trading - U.S. Treasury Bills 133,755 - - 133,755 Common stocks 229,449 1,567 2,097 233,113 Mutual funds 929 - - 929 Other 4,056 642 234 4,932 Total investments in securities 368,189 2,209 2,331 372,729 Investments in affiliated registered investment companies: Closed-end funds 44,520 - 11,486 56,006 Mutual funds 65,857 - - 65,857 Total investments in affiliated registered investment companies 110,377 - 11,486 121,863 Total investments held at fair value 478,566 2,209 13,817 494,592 Total assets at fair value $ 754,989 $ 2,209 $ 13,817 $ 771,015 Liabilities Common stocks $ 1,725 $ - $ - $ 1,725 Other 653 803 - 1,456 Securities sold, not yet purchased 2,378 803 - 3,181 Total liabilities at fair value $ 2,378 $ 803 $ - $ 3,181 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 and liabilities by major category measured at fair value on a recurring basis and for which the Company has utilized Level 3 Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Assets: Total Total Total Total Beginning balance $ 12,731 $ 6,135 $ 10,600 $ 6,498 Total gains/(losses) - (489 ) 70 (538 ) Purchases 1,500 9 3,900 53 Sales/return of capital (414 ) (1,046 ) (753 ) (1,046 ) Transfers - - - (358 ) Ending balance $ 13,817 $ 4,609 $ 13,817 $ 4,609 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 $ - $ (489 ) $ 70 $ (538 ) Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Liabilities: Total Total Total Total Beginning balance $ - $ 7,508 $ - $ - Total (gains)/losses - (1,918 ) - (2,743 ) Issuances - - - 8,333 Ending balance $ - $ 5,590 $ - $ 5,590 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 $ - $ (1,918 ) $ - $ (2,743 ) Total realized and unrealized gains and losses for Level 3 During the three nine September 30, 2022 three September 30, 2021, 3. nine September 30, 2021 3 1 The following table presents the carrying amounts and estimated fair values of financial assets that are not September 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	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	The effective tax rate (“ETR”) for the nine September 30, 2022 September 30, 2021 2022 2021 At September 30, 2022 not not September 30, 2022 December 31, 2021 As of and for the periods ended September 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	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, (In thousands, except per share amounts) 2022 2021 2022 2021 Income/(loss) before noncontrolling interests $ (16,004 ) $ 5,504 $ (59,601 ) $ 53,415 Less: Income/(loss) attributable to noncontrolling interests 494 4,001 2,970 3,641 Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders $ (16,498 ) $ 1,503 $ (62,571 ) $ 49,774 Weighted average number of shares of Common Stock outstanding - basic 22,010 22,084 22,033 22,141 Weighted average number of shares of Common Stock outstanding - diluted 22,010 22,084 22,033 22,141 Basic and Diluted EPS $ (0.75 ) $ 0.07 $ (2.84 ) $ 2.25

Note H - Equity

Note H - Equity	9 Months Ended
	Sep. 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 September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 The following table summarizes our stock-based compensation as well as unrecognized compensation for the three nine September 30, 2022 2021 Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock-based compensation expense $ 452 $ 365 $ 769 $ 1,223 Remaining expense to be recognized, if all vesting conditions are met (1) 4,408 6,264 Weighted average remaining contractual term (in years) 1.9 2.3 ( 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 Granted 4,500 41.70 Forfeited (8,500 ) 35.82 Vested - - Balance at September 30, 2022 211,910 $ 36.16 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: For the period ended September 30, 2022: Number of shares Average price per share Remaining repurchase authorization at December 31, 2021 677,144 Shares purchased under repurchase plan (1) (7,536 ) $ 38.84 Remaining repurchase authorization at March 31, 2022 669,608 Shares purchased under repurchase plan (1) (35,292 ) $ 37.32 Remaining repurchase authorization at June 30, 2022 634,316 Shares purchased under repurchase plan (1) (11,752 ) $ 37.52 Remaining repurchase authorization at September 30, 2022 622,564 For the period ended September 30, 2021: Remaining repurchase authorization at December 31, 2020 893,102 Shares purchased under repurchase plan (1) (119,087 ) $ 35.24 Remaining repurchase authorization at March 31, 2021 774,015 Shares purchased under repurchase plan (1) (53,992 ) $ 35.06 Remaining repurchase authorization at June 30, 2021 720,023 Shares purchased under repurchase plan (1) (38,577 ) $ 36.19 Remaining repurchase authorization at September 30, 2021 681,446 ( 1 three September 30, 2022 2021 nine September 30, 2022 2021 Dividends There were no dividends declared during the three September 30, 2022 2021. nine September 30, 2022 2021

Note I - Goodwill

Note I - Goodwill	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Goodwill Disclosure [Text Block]	At September 30, 2022 not nine September 30, 2022 September 30, 2021 no

Note J - Guarantees, Contingenc

Note J - Guarantees, Contingencies and Commitments	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	From time to time, the Company may may may not September 30, 2022 The Company has also entered into arrangements with various other third third no no

Note K - Subsequent Events

Note K - Subsequent Events	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Subsequent Events [Text Block]	From October 1, 2022 November 14, 2022, 2,205 $39.65 On October 6, 2022, On October 7, 2022, September 30, 2022. On November 11, 2022, December 15, 2022 December 1, 2022. On November 11, 2022,

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 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. PMV Consumer Acquisition Corp. ("PMV"), a special purpose acquisition corporation, and its sponsor, PMV Consumer Acquisition Holding Company, LLC (“Sponsor”, collectively "Consolidated PMV") were previously consolidated in the financial statements of AC because AC had a controlling financial interest in these entities. Commencing in August 2022, no As of December 31, 2021, See Note E in our 10 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 September 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. The details on the impact of consolidating certain partnership 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)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Investment advisory and incentive fees Asset-based advisory fees $ 1,269 $ 1,280 $ 3,882 $ 3,712 Performance-based advisory fees 2 64 46 120 Sub-advisory fees 1,201 670 3,481 2,795 Sub-total 2,472 2,014 7,409 6,627 Other Miscellaneous 90 98 281 299 Total $ 2,562 $ 2,112 $ 7,690 $ 6,926

Note C - Investments in Secur_2

Note C - Investments in Securities (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]	September 30, 2022 December 31, 2021 Cost Fair Value Cost Fair Value Debt - Trading Securities: U.S. Treasury Bills $ 133,146 $ 133,755 $ 60,992 $ 60,996 Equity Securities: Common stocks 269,034 233,113 239,383 265,156 Mutual funds 537 929 524 1,351 Other investments 6,284 4,932 6,253 6,580 Total equity securities 275,855 238,974 246,160 273,087 Total investments in securities $ 409,001 $ 372,729 $ 307,152 $ 334,083 Investments in marketable securities held in trust (1) $ - $ - $ 175,109 $ 175,109
Investments in and Advances to Affiliates [Table Text Block]	September 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 September 30, 2022 December 31, 2021 Cost Fair Value Cost Fair Value Equity securities: Closed-end funds $ 45,427 $ 56,006 $ 42,484 $ 64,381 Mutual funds 49,763 65,857 49,362 70,167 Total investments in affiliated registered investment companies $ 95,190 $ 121,863 $ 91,846 $ 134,548
Investments Sold, Not yet Purchased [Table Text Block]	September 30, 2022 December 31, 2021 Cost Fair Value Cost Fair Value Equity securities: Common stocks $ 2,373 $ 1,725 $ 9,021 $ 9,838 Other investments 670 1,456 2,767 3,067 Total securities sold, not yet purchased $ 3,043 $ 3,181 $ 11,788 $ 12,905

Note D - Investment Partnersh_2

Note D - Investment Partnerships and Other Entities (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Condensed Balance Sheet [Table Text Block]	September 30, 2022 Prior to Consolidated Assets Consolidation Entities As Reported Cash and cash equivalents $ 277,445 $ 10,733 $ 288,178 Investments in U.S. Treasury Bills 133,755 - 133,755 Investments in securities 148,218 90,756 238,974 Investments in affiliated registered investment companies 172,140 (50,277 ) 121,863 Investments in partnerships 165,763 (16,680 ) 149,083 Receivable from brokers 8,796 9,367 18,163 Investment advisory fees receivable 1,299 (6 ) 1,293 Other assets (1) 35,444 8 35,452 Investments in marketable securities held in trust - - - Total assets $ 942,860 $ 43,901 $ 986,761 Liabilities and equity Securities sold, not yet purchased $ 2,427 $ 754 $ 3,181 Payable to brokers and other liabilities (1) 61,178 4,368 65,546 Tendered redeemable noncontrolling interests payable - 29,001 29,001 Redeemable noncontrolling interests - 9,778 9,778 Total equity 879,255 - 879,255 Total liabilities and equity $ 942,860 $ 43,901 $ 986,761 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 September 30, 2022 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 2,723 $ (161 ) $ 2,562 Operating loss (2,359 ) (770 ) (3,129 ) Total other income/(loss), net (19,053 ) 1,264 (17,789 ) Income/(loss) before noncontrolling interests (16,498 ) 494 (16,004 ) Income/(loss) attributable to noncontrolling interests, net of taxes - 494 494 Net income/(loss) $ (16,498 ) $ - $ (16,498 ) Three Months Ended September 30, 2021 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 2,657 $ (545 ) $ 2,112 Operating loss (1,821 ) 1,652 (169 ) Total other income, net 3,777 2,380 6,157 Income/(loss) before noncontrolling interests 1,473 4,031 5,504 Income/(loss) attributable to noncontrolling interests, net of taxes - 4,001 4,001 Net income $ 1,473 $ 30 $ 1,503 Nine Months Ended September 30, 2022 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 8,229 $ (539 ) $ 7,690 Operating loss (6,462 ) (2,184 ) (8,646 ) Total other income/(loss), net (73,907 ) 5,154 (68,753 ) Income/(loss) before noncontrolling interests (62,571 ) 2,970 (59,601 ) Income/(loss) attributable to noncontrolling interests, net of taxes - 2,970 2,970 Net income/(loss) $ (62,571 ) $ - $ (62,571 ) Nine Months Ended September 30, 2021 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 9,658 $ (2,732 ) $ 6,926 Operating loss (13,830 ) (3,115 ) (16,945 ) Total other income, net 78,710 6,744 85,454 Income/(loss) before noncontrolling interests 49,788 3,627 53,415 Income/(loss) attributable to noncontrolling interests, net of taxes - 3,641 3,641 Net income/(loss) $ 49,788 $ (14 ) $ 49,774
Schedule of Variable Interest Entities [Table Text Block]	September 30, 2022 December 31, 2021 Cash and cash equivalents $ 13 $ 1,911 Investments in securities 8,306 11,227 Receivable from brokers 137 1,106 Investments in marketable securities held in trust - 175,109 Other assets - 103 Accrued expenses and other liabilities (1) (37 ) (7,074 ) PMV warrant liability - (5,280 ) Redeemable noncontrolling interests (406 ) (162,314 ) Nonredeemable noncontrolling interests - 1,757 AC Group's net interests in consolidated VIEs $ 8,013 $ 16,545

Note E - Fair Value (Tables)

Note E - Fair Value (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	September 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 $ 276,423 $ - $ - $ 276,423 Investments in securities (including GBL stock): Trading - U.S. Treasury Bills 133,755 - - 133,755 Common stocks 229,449 1,567 2,097 233,113 Mutual funds 929 - - 929 Other 4,056 642 234 4,932 Total investments in securities 368,189 2,209 2,331 372,729 Investments in affiliated registered investment companies: Closed-end funds 44,520 - 11,486 56,006 Mutual funds 65,857 - - 65,857 Total investments in affiliated registered investment companies 110,377 - 11,486 121,863 Total investments held at fair value 478,566 2,209 13,817 494,592 Total assets at fair value $ 754,989 $ 2,209 $ 13,817 $ 771,015 Liabilities Common stocks $ 1,725 $ - $ - $ 1,725 Other 653 803 - 1,456 Securities sold, not yet purchased 2,378 803 - 3,181 Total liabilities at fair value $ 2,378 $ 803 $ - $ 3,181 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 September 30, 2022 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Assets: Total Total Total Total Beginning balance $ 12,731 $ 6,135 $ 10,600 $ 6,498 Total gains/(losses) - (489 ) 70 (538 ) Purchases 1,500 9 3,900 53 Sales/return of capital (414 ) (1,046 ) (753 ) (1,046 ) Transfers - - - (358 ) Ending balance $ 13,817 $ 4,609 $ 13,817 $ 4,609 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 $ - $ (489 ) $ 70 $ (538 )
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Liabilities: Total Total Total Total Beginning balance $ - $ 7,508 $ - $ - Total (gains)/losses - (1,918 ) - (2,743 ) Issuances - - - 8,333 Ending balance $ - $ 5,590 $ - $ 5,590 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 $ - $ (1,918 ) $ - $ (2,743 )
Fair Value Measurements, Nonrecurring [Table Text Block]	September 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)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except per share amounts) 2022 2021 2022 2021 Income/(loss) before noncontrolling interests $ (16,004 ) $ 5,504 $ (59,601 ) $ 53,415 Less: Income/(loss) attributable to noncontrolling interests 494 4,001 2,970 3,641 Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders $ (16,498 ) $ 1,503 $ (62,571 ) $ 49,774 Weighted average number of shares of Common Stock outstanding - basic 22,010 22,084 22,033 22,141 Weighted average number of shares of Common Stock outstanding - diluted 22,010 22,084 22,033 22,141 Basic and Diluted EPS $ (0.75 ) $ 0.07 $ (2.84 ) $ 2.25

Note H - Equity (Tables)

Note H - Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Share-Based Payment Arrangement, Cost by Plan [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock-based compensation expense $ 452 $ 365 $ 769 $ 1,223 Remaining expense to be recognized, if all vesting conditions are met (1) 4,408 6,264 Weighted average remaining contractual term (in years) 1.9 2.3
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 Granted 4,500 41.70 Forfeited (8,500 ) 35.82 Vested - - Balance at September 30, 2022 211,910 $ 36.16
Class of Treasury Stock [Table Text Block]	For the period ended September 30, 2022: Number of shares Average price per share Remaining repurchase authorization at December 31, 2021 677,144 Shares purchased under repurchase plan (1) (7,536 ) $ 38.84 Remaining repurchase authorization at March 31, 2022 669,608 Shares purchased under repurchase plan (1) (35,292 ) $ 37.32 Remaining repurchase authorization at June 30, 2022 634,316 Shares purchased under repurchase plan (1) (11,752 ) $ 37.52 Remaining repurchase authorization at September 30, 2022 622,564 For the period ended September 30, 2021: Remaining repurchase authorization at December 31, 2020 893,102 Shares purchased under repurchase plan (1) (119,087 ) $ 35.24 Remaining repurchase authorization at March 31, 2021 774,015 Shares purchased under repurchase plan (1) (53,992 ) $ 35.06 Remaining repurchase authorization at June 30, 2021 720,023 Shares purchased under repurchase plan (1) (38,577 ) $ 36.19 Remaining repurchase authorization at September 30, 2021 681,446

Note A - Organization (Details

Note A - Organization (Details Textual) - USD ($) $ in Thousands		9 Months Ended
	Nov. 30, 2015	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Assets, Total		$ 986,761		$ 1,203,336
Liabilities, Total		97,728		65,534
Redeemable Noncontrolling Interest, Equity, Carrying Amount, Total		9,778		202,456
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance		0		$ (1,756)
Payments to Acquire Marketable Securities		$ 0	$ 175,085
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				$ 163,800
Liabilities, Total				11,500
Redeemable Noncontrolling Interest, Equity, Carrying Amount, Total				161,800
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance				$ (1,800)

Note B - Revenue - Disaggregati

Note B - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Total revenues	$ 2,562	$ 2,112	$ 7,690	$ 6,926
Asset Based Advisory Fees [Member]
Total revenues	1,269	1,280	3,882	3,712
Performance Based Advisory Fees [Member]
Total revenues	2	64	46	120
Sub Advisory Fees [Member]
Total revenues	1,201	670	3,481	2,795
Investment Advice [Member]
Total revenues	2,472	2,014	7,409	6,627
Other Miscellaneous Revenues [Member]
Total revenues	$ 90	$ 98	$ 281	$ 299

Note C - Investments in Secur_3

Note C - Investments in Securities (Details Textual) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2022	Dec. 31, 2021
Marketable Securities, Held in Trust, Fair Value	[1]	$ 0	$ 175,109
Puttable Subordinated Note [Member]
Debt Instrument, Term (Year)		2 years
Put Option [Member]
Proceeds from Collection of Advance to Affiliate		$ 5,100
Gain (Loss) on Investments in and Advances to Affiliates		$ 0
Fair Value, Inputs, Level 1 [Member]
Marketable Securities, Held in Trust, Fair Value			$ 175,000
[1]At 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. Such investments were categorized as Level 1.

Note C - Investments in Secur_4

Note C - Investments in Securities - Investments in Securities (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Investments in U.S. Treasury Bills with greater than 3 month maturities		$ 133,755	$ 60,996
Equity Securities		275,855	246,160
Investments in equity securities (includes GBL stock with a value of $41.2 million and $60.4 million, respectively)		238,974	273,087
Total investments in securities		409,001	307,152
Total investments in securities, fair value		372,729	334,083
Investments in marketable securities held in trust(1)	[1]	0	175,109
Investments in marketable securities held in trust, fair value	[1]	0	175,109
US Treasury Bill Securities [Member]
U.S. Treasury Bills		133,146	60,992
Investments in U.S. Treasury Bills with greater than 3 month maturities		133,755	60,996
Common Stock [Member]
Equity Securities		269,034	239,383
Investments in equity securities (includes GBL stock with a value of $41.2 million and $60.4 million, respectively)		233,113	265,156
Mutual Fund [Member]
Equity Securities		537	524
Investments in equity securities (includes GBL stock with a value of $41.2 million and $60.4 million, respectively)		929	1,351
Other Investments [Member]
Equity Securities		6,284	6,253
Investments in equity securities (includes GBL stock with a value of $41.2 million and $60.4 million, respectively)		$ 4,932	$ 6,580
[1]At 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. Such investments were categorized as Level 1.

Note C - Investments in Secur_5

Note C - Investments in Securities - Investments in Affiliated Companies (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Investments in affiliated registered investment companies	$ 121,863	$ 134,548
Investment in registered investment companies, cost	95,190	91,846
Closed End Funds [Member]
Investments in affiliated registered investment companies	56,006	64,381
Investment in registered investment companies, cost	45,427	42,484
Mutual Fund [Member]
Investments in affiliated registered investment companies	65,857	70,167
Investment in registered investment companies, cost	49,763	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	Sep. 30, 2022	Dec. 31, 2021
Total securities sold, not yet purchased, cost	$ 3,043	$ 11,788
Total securities sold, not yet purchased, fair value	3,181	12,905
Common Stock [Member]
Total securities sold, not yet purchased, cost	2,373	9,021
Total securities sold, not yet purchased, fair value	1,725	9,838
Other Investments [Member]
Total securities sold, not yet purchased, cost	670	2,767
Total securities sold, not yet purchased, fair value	$ 1,456	$ 3,067

Note D - Investment Partnersh_3

Note D - Investment Partnerships and Other Entities (Details Textual) - USD ($) $ in Thousands	1 Months Ended	7 Months Ended	9 Months Ended
	Aug. 30, 2022	Jul. 30, 2022	Sep. 30, 2022	Dec. 31, 2021	Sep. 24, 2020
Investments in Unaffiliated Entities			$ 35,000	$ 41,900
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures, Total			114,100	112,600
Stock value			238,974	273,087
Direct Investment in Partnership and Variable Interest Entity		$ 4,000
Partnership and VIE Investment, Percentage		62%
Partnership and VIE Investment Commitment Amount		$ 6,480
Assets, Total			986,761	1,203,336
Liabilities, Total			97,728	65,534
Redeemable Noncontrolling Interest, Equity, Carrying Amount, Total			9,778	202,456
Accounts Payable, Redeemable Noncontrolling Interests			29,001	0
Sponsor [Member]
Direct Investment in Partnership and Variable Interest Entity			1,000
Voting Interest Entities [Member]
Assets, Total			102,500	109,300
Liabilities, Total			34,300	8,400
Redeemable Noncontrolling Interest, Equity, Carrying Amount, Total			9,400	40,100
Net Assets, Ending Balance			58,800	$ 60,800
Accounts Payable, Redeemable Noncontrolling Interests			29,000
Common Class A [Member] | P M V Consumer Acquisition Corp [Member] | IPO [Member]
Number of Securities Called Per Unit (in shares)					1
P M V Consumer Acquisition Corp [Member]
Stock value			$ 9,900
P M V Consumer Acquisition Corp [Member] | PMV Public Warrant [Member]
Investment Owned, Balance, Shares (in shares)			500,000
P M V Consumer Acquisition Corp [Member] | Common Class A [Member]
Investment Owned, Balance, Shares (in shares)			1,000,000
Investment Income (Expense) [Member]
Deconsolidation, Gain (Loss), Amount	$ (3,600)
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		Sep. 30, 2022		Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021		Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Cash and cash equivalents		$ 288,178				$ 319,048		$ 569,776
Investments in U.S. Treasury Bills		133,755				60,996
Investments in equity securities (includes GBL stock with a value of $41.2 million and $60.4 million, respectively)		238,974				273,087
Investments in affiliated registered investment companies		121,863				134,548
Investments in partnerships		149,083				154,460
Receivable from brokers		18,163				42,478
Investment advisory fees receivable		1,293				8,315
Other assets	[1]	35,452				35,295
Investments in marketable securities held in trust	[2]	0				175,109
Total assets		986,761				1,203,336
Securities sold, not yet purchased		3,181				12,905
Payable to brokers and other liabilities(1)		65,546
Tendered redeemable noncontrolling interests payable		29,001				0
Redeemable noncontrolling interests		9,778				202,456
Total equity		879,255	[3]	$ 885,857	$ 918,188	935,346	[3]	$ 931,188	$ 932,465	$ 915,746	$ 901,389
Total liabilities and equity		986,761				1,203,336
Accrued expenses and other liabilities	[1]					52,629
Consolidated Entity, Excluding Consolidated Entities [Member]
Cash and cash equivalents		277,445				315,009
Investments in U.S. Treasury Bills		133,755				60,996
Investments in equity securities (includes GBL stock with a value of $41.2 million and $60.4 million, respectively)		148,218				184,229
Investments in affiliated registered investment companies		172,140				186,474
Investments in partnerships		165,763				174,683
Receivable from brokers		8,796				21,993
Investment advisory fees receivable		1,299				8,320
Other assets	[1]	35,444				39,400
Investments in marketable securities held in trust		0				0
Total assets		942,860				991,104
Securities sold, not yet purchased		2,427				11,199
Payable to brokers and other liabilities(1)	[1]	61,178
Tendered redeemable noncontrolling interests payable		0
Redeemable noncontrolling interests		0				0
Total equity	[3]	879,255				946,080
Total liabilities and equity		942,860				991,104
Accrued expenses and other liabilities	[1]					33,825
Consolidated Entities [Member]
Cash and cash equivalents		10,733				4,039
Investments in U.S. Treasury Bills		0				0
Investments in equity securities (includes GBL stock with a value of $41.2 million and $60.4 million, respectively)		90,756				88,858
Investments in affiliated registered investment companies		(50,277)				(51,926)
Investments in partnerships		(16,680)				(20,223)
Receivable from brokers		9,367				20,485
Investment advisory fees receivable		(6)				(5)
Other assets	[1]	8				(4,105)
Investments in marketable securities held in trust		0				175,109
Total assets		43,901				212,232
Securities sold, not yet purchased		754				1,706
Payable to brokers and other liabilities(1)		4,368
Tendered redeemable noncontrolling interests payable		29,001
Redeemable noncontrolling interests		9,778				202,456
Total equity	[3]	0				(10,734)
Total liabilities and equity		$ 43,901				212,232
Accrued expenses and other liabilities	[1]					$ 18,804
[1]Represents the summation of multiple captions from the condensed consolidated statements of financial condition.[2]At 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. Such investments were 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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Total revenues	$ 2,562	$ 2,112	$ 7,690	$ 6,926
Operating loss	(3,129)	(169)	(8,646)	(16,945)
Total other income/(loss), net	(17,789)	6,157	(68,753)	85,454
Income/(loss) before noncontrolling interests	(16,004)	5,504	(59,601)	53,415
Less: Income/(loss) attributable to noncontrolling interests	494	4,001	2,970	3,641
Net income/(loss)	(16,498)	1,503	(62,571)	49,774
Consolidated Entity, Excluding Consolidated Entities [Member]
Total revenues	2,723	2,657	8,229	9,658
Operating loss	(2,359)	(1,821)	(6,462)	(13,830)
Total other income/(loss), net	(19,053)	3,777	(73,907)	78,710
Income/(loss) before noncontrolling interests	(16,498)	1,473	(62,571)	49,788
Less: Income/(loss) attributable to noncontrolling interests	0	0	0	0
Net income/(loss)	(16,498)	1,473	(62,571)	49,788
Consolidated Entities [Member]
Total revenues	(161)	(545)	(539)	(2,732)
Operating loss	(770)	1,652	(2,184)	(3,115)
Total other income/(loss), net	1,264	2,380	5,154	6,744
Income/(loss) before noncontrolling interests	494	4,031	2,970	3,627
Less: Income/(loss) attributable to noncontrolling interests	494	4,001	2,970	3,641
Net income/(loss)	$ 0	$ 30	$ 0	$ (14)

Note D - Investment Partnersh_6

Note D - Investment Partnerships and Other Entities - Balances Related to VIEs (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Cash and cash equivalents (includes U.S. Treasury Bills with maturities of less than 3 months)		$ 288,178	$ 319,048	$ 569,776
Receivable from brokers		18,163	42,478
Marketable Securities, Held in Trust, Fair Value	[1]	0	175,109
Other assets		18,628	21,682
PMV warrant liability		0	(5,280)
Redeemable noncontrolling interests		(9,778)	(202,456)
Variable Interest Entity, Primary Beneficiary [Member]
Cash and cash equivalents (includes U.S. Treasury Bills with maturities of less than 3 months)		13	1,911
Investments in securities	[2]	8,306	11,227
Receivable from brokers		137	1,106
Marketable Securities, Held in Trust, Fair Value		0	175,109
Other assets		0	103
Accrued expenses and other liabilities(1)		(37)	(7,074)
PMV warrant liability		0	(5,280)
Redeemable noncontrolling interests		(406)	(162,314)
Nonredeemable noncontrolling interests		0	1,757
AC Group's net interests in consolidated VIEs		$ 8,013	$ 16,545
[1]At 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. Such investments were 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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 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	Sep. 30, 2022	Dec. 31, 2021
Investments in U.S. Treasury Bills with greater than 3 month maturities	$ 133,755	$ 60,996
Investments in equity securities (includes GBL stock with a value of $41.2 million and $60.4 million, respectively)	238,974	273,087
Total investments in securities	372,729	334,083
Securities sold, not yet purchased	3,181	12,905
PMV warrant liability	0	5,280
US Treasury Bill Securities [Member]
Investments in U.S. Treasury Bills with greater than 3 month maturities	133,755	60,996
Common Stock [Member]
Investments in equity securities (includes GBL stock with a value of $41.2 million and $60.4 million, respectively)	233,113	265,156
Mutual Fund [Member]
Investments in equity securities (includes GBL stock with a value of $41.2 million and $60.4 million, respectively)	929	1,351
Other Investments [Member]
Investments in equity securities (includes GBL stock with a value of $41.2 million and $60.4 million, respectively)	4,932	6,580
Fair Value, Recurring [Member]
Cash equivalents	276,423	314,172
Total investments in securities	372,729	334,083
Investments in affiliated registered investment companies	121,863	134,548
Investment, fair value	494,592	468,631
Total assets at fair value	771,015	782,803
Securities sold, not yet purchased	3,181	12,905
Total liabilities at fair value	3,181	18,185
PMV warrant liability		5,280
Fair Value, Recurring [Member] | US Treasury Bill Securities [Member]
Investments in U.S. Treasury Bills with greater than 3 month maturities	133,755	60,996
Fair Value, Recurring [Member] | Common Stock [Member]
Investments in equity securities (includes GBL stock with a value of $41.2 million and $60.4 million, respectively)	233,113	265,156
Securities sold, not yet purchased	1,725	9,838
Fair Value, Recurring [Member] | Mutual Fund [Member]
Investments in equity securities (includes GBL stock with a value of $41.2 million and $60.4 million, respectively)	929	1,351
Investments in affiliated registered investment companies	65,857	70,167
Fair Value, Recurring [Member] | Other Investments [Member]
Investments in equity securities (includes GBL stock with a value of $41.2 million and $60.4 million, respectively)	4,932	6,580
Securities sold, not yet purchased	1,456	3,067
Fair Value, Recurring [Member] | Closed End Funds [Member]
Investments in affiliated registered investment companies	56,006	64,381
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Cash equivalents	276,423	314,172
Total investments in securities	368,189	327,943
Investments in affiliated registered investment companies	110,377	126,548
Investment, fair value	478,566	454,491
Total assets at fair value	754,989	768,663
Securities sold, not yet purchased	2,378	11,797
Total liabilities at fair value	2,378	17,077
PMV warrant liability		5,280
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	133,755	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 $41.2 million and $60.4 million, respectively)	229,449	260,763
Securities sold, not yet purchased	1,725	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 $41.2 million and $60.4 million, respectively)	929	1,351
Investments in affiliated registered investment companies	65,857	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 $41.2 million and $60.4 million, respectively)	4,056	4,833
Securities sold, not yet purchased	653	1,959
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Closed End Funds [Member]
Investments in affiliated registered investment companies	44,520	56,381
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Cash equivalents	0	0
Total investments in securities	2,209	3,540
Investments in affiliated registered investment companies	0	0
Investment, fair value	2,209	3,540
Total assets at fair value	2,209	3,540
Securities sold, not yet purchased	803	1,108
Total liabilities at fair value	803	1,108
PMV warrant liability		0
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 $41.2 million and $60.4 million, respectively)	1,567	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 $41.2 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 $41.2 million and $60.4 million, respectively)	642	1,220
Securities sold, not yet purchased	803	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	11,486	8,000
Investment, fair value	13,817	10,600
Total assets at fair value	13,817	10,600
Securities sold, not yet purchased	0	0
Total liabilities at fair value	0	0
PMV warrant liability		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 $41.2 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 $41.2 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 $41.2 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	$ 11,486	$ 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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Beginning balance	$ 12,731	$ 6,135	$ 10,600	$ 6,498
Total gains/(losses)	0	(489)	70	(538)
Purchases	1,500	9	3,900	53
Sales/return of capital	(414)	(1,046)	(753)	(1,046)
Transfers	0	0	0	(358)
Ending balance	13,817	4,609	13,817	4,609
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	$ 0	$ (489)	$ 70	$ (538)

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Beginning balance	$ 0	$ 7,508	$ 0	$ 0
Total (gains)/losses	0	(1,918)	0	(2,743)
Issuances	0	0	0	8,333
Ending balance	0	5,590	0	5,590
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	$ (1,918)	$ 0	$ (2,743)

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		Sep. 30, 2022	Dec. 31, 2021	Sep. 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		986,761	$ 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	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Percent, Total	23%	22%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%
Deferred Tax Liabilities, Net, Total	$ 12,900
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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income/(loss) before noncontrolling interests	$ (16,004)	$ 5,504	$ (59,601)	$ 53,415
Less: Income/(loss) attributable to noncontrolling interests	494	4,001	2,970	3,641
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	$ (16,498)	$ 1,503	$ (62,571)	$ 49,774
Weighted average number of shares of Common Stock outstanding - basic (in shares)	22,010	22,084	22,033	22,141
Weighted average number of shares of Common Stock outstanding - diluted (in shares)	22,010	22,084	22,033	22,141
Basic and Diluted EPS (in dollars per share)	$ (0.75)	$ 0.07	$ (2.84)	$ 2.25

Note H - Equity (Details Textua

Note H - Equity (Details Textual) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Mar. 31, 2022 USD ($) shares	Sep. 30, 2021 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares shares	Mar. 31, 2021 USD ($) shares	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 shares	[1]	May 08, 2018 shares	Aug. 03, 2017 shares	Feb. 07, 2017 shares	Dec. 31, 2015 shares
Employee-related Liabilities, Total | $	$ 7,662						$ 7,662		$ 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	622,564	634,316	669,608	681,446	720,023	774,015	622,564	681,446	677,144	893,102				500,000
Treasury Stock, Value, Acquired, Cost Method | $	$ 441	$ 1,317	$ 293	$ 1,396	$ 1,893	$ 4,198	$ 2,100	$ 7,500
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 | $	$ 3,800						$ 3,800		$ 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			$ 0			$ 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			$ 0			$ 0.10	$ 0.10
[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 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		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Stock-based compensation expense		$ 452	$ 365	$ 769	$ 1,223
Remaining expense to be recognized, if all vesting conditions are met(1)	[1]	$ 4,408	$ 6,264	$ 4,408	$ 6,264
Weighted average remaining contractual term (in years) (Year)				1 year 10 months 24 days	2 years 3 months 18 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
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Balance, shares (in shares)	215,910	221,960	222,905
Balance, weighted average grant date fair value (in dollars per share)	$ 36.04	$ 36.02	$ 36.03
Granted, shares (in shares)	4,500	0	0
Granted, weighted average grant date fair value (in dollars per share)	$ 41.70	$ 0	$ 0
Forfeited, shares (in shares)	(8,500)	(6,050)	(945)
Forfeited, weighted average grant date fair value (in dollars per share)	$ 35.82	$ 35.63	$ 37.40
Vested, shares (in shares)	0	0	0
Vested, weighted average grant date fair value (in dollars per share)	$ 0	$ 0	$ 0
Balance, shares (in shares)	211,910	215,910	221,960
Balance, weighted average grant date fair value (in dollars per share)	$ 36.16	$ 36.04	$ 36.02

Note H - Equity - Stock Repurch

Note H - Equity - Stock Repurchase Activity (Details) - $ / shares		3 Months Ended
		Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Remaining repurchase authorization (in shares)		634,316	669,608	677,144	720,023	774,015	893,102	[1]
Shares purchased under repurchase plan (in shares)	[1]	(11,752)	(35,292)	(7,536)	(38,577)	(53,992)	(119,087)
Share repurchase plan (in dollars per share)	[1]	$ 37.52	$ 37.32	$ 38.84	$ 36.19	$ 35.06	$ 35.24
Remaining repurchase authorization (in shares)		622,564	634,316	669,608	681,446	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	9 Months Ended
	Sep. 30, 2022	Sep. 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) - USD ($) $ / shares in Units, $ in Millions			1 Months Ended	3 Months Ended						9 Months Ended
		Nov. 11, 2022	Nov. 14, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Treasury Stock, Shares, Acquired (in shares)	[1]			11,752	35,292	7,536	38,577	53,992	119,087
Treasury Stock Acquired, Average Cost Per Share (in dollars per share)	[1]			$ 37.52	$ 37.32	$ 38.84	$ 36.19	$ 35.06	$ 35.24
Common Stock, Dividends, Per Share, Declared (in dollars per share)					$ 0.10			$ 0.10
Common Class A [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)				0			0			$ 0.10	$ 0.10
Common Class B [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)				$ 0			$ 0			$ 0.10	$ 0.10
Subsequent Event [Member]
Treasury Stock, Shares, Acquired (in shares)			2,205
Treasury Stock Acquired, Average Cost Per Share (in dollars per share)			$ 39.65
Shareholder Designated Charitable Contribution, Per Share (in dollars per share)		$ 0.15
Shareholder Designated Charitable Contribution, Value		$ 3.3
Subsequent Event [Member] | Common Class A [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)		$ 0.10
Subsequent Event [Member] | Common Class B [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)		$ 0.10
[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.