Associated Capital (AC) 10-K 21 Mar 24 2023 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 06, 2024	Jun. 30, 2023
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	FY
Document Fiscal Year Focus	2023
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 105,000,000
Auditor Firm ID	34
Auditor Name	Deloitte & Touche, LLP
Auditor Location	Stamford, Connecticut
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		18,950,571
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,542,605

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenues
Total revenues	$ 12,683	$ 15,228
Expenses
Compensation	17,246	18,883
Management fee	5,446	0
Other operating expenses	6,938	7,607
Total expenses	29,630	26,490
Operating loss	(16,947)	(11,262)
Other income/(expense)
Net gain/(loss) from investments	43,033	(56,513)
Interest and dividend income	25,258	10,653
Interest expense	(462)	(216)
Shareholder-designated contribution	(4,017)	(3,127)
Total other income/(expense), net	63,812	(49,203)
Income/(loss) before income taxes	46,865	(60,465)
Income tax expense/(benefit)	9,137	(14,943)
Income/(loss) before noncontrolling interests	37,728	(45,522)
Income attributable to noncontrolling interests	277	3,385
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	$ 37,451	$ (48,907)
Net income/(loss) per share attributable to Associated Capital Group, Inc.'s shareholders:
Basic and Diluted EPS (in dollars per share)	$ 1.72	$ (2.22)
Diluted (in dollars per share)	$ 1.72	$ (2.22)
Weighted average shares outstanding:
Basic (in shares)	21,771	22,024
Diluted (in shares)	21,771	22,024
Actual shares outstanding (in shares)	21,538	21,990
Investment Advice [Member]
Revenues
Total revenues	$ 12,324	$ 14,801
Financial Service, Other [Member]
Revenues
Total revenues	$ 359	$ 427

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net income/(loss) before noncontrolling interests	$ 37,728	$ (45,522)
Less: Comprehensive income attributable to noncontrolling interests	277	3,385
Comprehensive income/(loss) attributable to Associated Capital Group, Inc.	$ 37,451	$ (48,907)

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash and cash equivalents (includes U.S. Treasury Bills with maturities of 3 months or less)	$ 317,487	$ 218,462
Investments in U.S. Treasury Bills with maturities greater than 3 months	89,155	186,001
Investments in equity securities (includes GAMCO stock with a value of $45.6 million and $36.7 million, respectively)	196,583	195,585
Investments in affiliated registered investment companies	126,751	126,210
Investments in partnerships	142,974	150,498
Receivable from brokers	16,005	12,072
Receivable from brokers (cash held for real estate purchase)	14,263	0
Investment advisory fees receivable	4,711	3,807
Income taxes receivable, including deferred tax assets, net	8,474	10,320
Goodwill	3,519	3,519
Other assets	22,999	18,699
Total assets	943,797	927,690
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Payable to brokers	4,459	7,784
Compensation payable	15,169	13,936
Securities sold, not yet purchased	5,918	2,874
Accrued expenses and other liabilities	5,173	2,707
Total liabilities	30,719	27,301
Redeemable noncontrolling interests	6,103	10,193
Commitments and contingencies (Note 12)
Equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued and outstanding	0	0
Additional paid-in capital	999,047	999,047
Retained earnings	48,231	15,126
Treasury stock, at cost (4,054,565 and 3,601,877 shares, respectively)	(140,328)	(124,002)
Total equity	906,975	890,196
Total liabilities, redeemable noncontrolling interests and equity	943,797	927,690
Common Class A [Member]
Equity:
Common Stock	6	6
Common Class B [Member]
Equity:
Common Stock	19	19
Affiliated Entity [Member]
Receivable from affiliates	876	2,517
Investment, Affiliated Issuer [Member]
Investments in affiliated registered investment companies	$ 126,751	$ 126,210

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Stock value	$ 196,583	$ 195,585
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)	21,538	21,990
Treasury stock shares (in shares)	4,054,565	3,601,877
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)	6,641,601	6,629,254
Common stock, shares outstanding (in shares)	2,587,036	3,027,541
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)	18,950,571	18,962,754
GAMCO Investors, Inc [Member]
Stock value	$ 45,600	$ 36,700

Consolidated Statements of Equi

Consolidated Statements of Equity and Redeemable Noncontrolling Interests - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [Member]	Redeemable Noncontrolling Interests [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balance at December 31, 2022	$ 25	$ 68,435	$ 990,069	$ (121,427)	$ 202,456	$ 937,102	$ (1,756)	$ 935,346
Balance at Dec. 31, 2021	25	68,435	990,069	(121,427)	202,456	937,102	(1,756)	935,346
Redemptions of noncontrolling interests	0	0	0	0	(486)	0	0	0
Net income/(loss)	0	(16,186)	0	0	2,484	(16,186)	197	(15,989)
Purchases of treasury stock	0	0	0	(293)	0	(293)	0	(293)
Redemptions of noncontrolling interests	0	0	0	0	486	0	0	0
Balance at Mar. 31, 2022	25	52,249	989,485	(121,720)	205,320	920,039	(1,851)	918,188
Accretion of redeemable noncontrolling interest	0	0	(584)	0	876	(584)	(292)	(876)
Other changes to redeemable noncontrolling interests	0	0	0	0	(10)	0	0	0
Other changes to redeemable noncontrolling interests	0	0	0	0	10	0	0	0
Balance at Dec. 31, 2021	25	68,435	990,069	(121,427)	202,456	937,102	(1,756)	935,346
Purchases of treasury stock								(2,600)
Dividends								(4,400)
Balance at Dec. 31, 2022	25	15,126	999,047	(124,002)	10,193	890,196	0	890,196
Balance at December 31, 2022	25	52,249	989,485	(121,720)	205,320	920,039	(1,851)	918,188
Balance at Mar. 31, 2022	25	52,249	989,485	(121,720)	205,320	920,039	(1,851)	918,188
Redemptions of noncontrolling interests	0	0	0	0	(486)	0	0	0
Net income/(loss)	0	(29,887)	0	0	(288)	(29,887)	83	(29,804)
Purchases of treasury stock	0	0	0	(1,317)	0	(1,317)	0	(1,317)
Dividends	0	(2,203)	0	0	0	(2,203)	0	(2,203)
Redemptions of noncontrolling interests	0	0	0	0	486	0	0	0
Balance at Jun. 30, 2022	25	20,159	990,147	(123,037)	203,327	887,294	(1,437)	885,857
Accretion of redeemable noncontrolling interest	0	0	(662)	0	(993)	(662)	(331)	(993)
Other changes to redeemable noncontrolling interests	0	0	0	0	226	0	0	0
Other changes to redeemable noncontrolling interests	0	0	0	0	(226)	0	0	0
Balance at December 31, 2022	25	20,159	990,147	(123,037)	203,327	887,294	(1,437)	885,857
Redemptions of noncontrolling interests	0	0	0	0	(29,001)	0	0	0
Net income/(loss)	0	(16,498)	0	0	494	(16,498)	0	(16,498)
Purchases of treasury stock	0	0	0	(441)	0	(441)	0	(441)
Redemptions of noncontrolling interests	0	0	0	0	29,001	0	0	0
Balance at Sep. 30, 2022	25	3,661	999,047	(123,478)	9,778	879,255	0	879,255
Other changes to redeemable noncontrolling interests	0	0	0	0	(263)	0	0	0
Other changes to redeemable noncontrolling interests	0	0	0	0	263	0	0	0
Reversal of accretion of redeemable noncontrolling interest	0	0	8,900	0	(13,205)	8,900	4,305	13,205
Effect of deconsolidation	0	0	0	0	(152,100)	0	(2,868)	(2,868)
Balance at December 31, 2022	25	3,661	999,047	(123,478)	9,778	879,255	0	879,255
Net income/(loss)	0	13,664	0	0	415	13,664	0	13,664
Purchases of treasury stock	0	0	0	(524)	0	(524)	0	(524)
Dividends	0	(2,199)	0	0	0	(2,199)	0	(2,199)
Balance at Dec. 31, 2022	25	15,126	999,047	(124,002)	10,193	890,196	0	890,196
Balance at December 31, 2022	25	15,126	999,047	(124,002)	10,193	890,196	0	890,196
Redemptions of noncontrolling interests	0	0	0	0	(3,228)			0
Net income/(loss)	0	17,754	0	0	268			17,754
Purchases of treasury stock	0	0	0	(1,949)	0			(1,949)
Redemptions of noncontrolling interests	0	0	0	0	3,228			0
Balance at Mar. 31, 2023	25	32,880	999,047	(125,951)	7,233			906,001
Balance at Dec. 31, 2022	25	15,126	999,047	(124,002)	10,193	$ 890,196	$ 0	890,196
Purchases of treasury stock								(16,300)
Dividends								(4,300)
Balance at Dec. 31, 2023	25	48,231	999,047	(140,328)	6,103			906,975
Balance at December 31, 2022	25	32,880	999,047	(125,951)	7,233			906,001
Balance at Mar. 31, 2023	25	32,880	999,047	(125,951)	7,233			906,001
Redemptions of noncontrolling interests	0	0	0	0	(76)			0
Net income/(loss)	0	3,371	0	0	(71)			3,371
Purchases of treasury stock	0	0	0	(7,617)	0			(7,617)
Dividends	0	(2,188)	0	0	0			(2,188)
Redemptions of noncontrolling interests	0	0	0	0	76			0
Balance at Jun. 30, 2023	25	34,063	999,047	(133,568)	7,086			899,567
Balance at December 31, 2022	25	34,063	999,047	(133,568)	7,086			899,567
Redemptions of noncontrolling interests	0	0	0	0	(76)			0
Net income/(loss)	0	(16)	0	0	123			(16)
Purchases of treasury stock	0	0	0	(3,815)	0			(3,815)
Redemptions of noncontrolling interests	0	0	0	0	76			0
Balance at Sep. 30, 2023	25	34,047	999,047	(137,383)	7,133			895,736
Balance at December 31, 2022	25	34,047	999,047	(137,383)	7,133			895,736
Redemptions of noncontrolling interests	0	0	0	0	987			0
Net income/(loss)	0	16,342	0	0	(43)			16,342
Purchases of treasury stock	0	0	0	(2,945)	0			(2,945)
Dividends	0	(2,158)	0	0	0			(2,158)
Redemptions of noncontrolling interests	0	0	0	0	(987)			0
Balance at Dec. 31, 2023	25	48,231	999,047	(140,328)	6,103			906,975
Balance at December 31, 2022	$ 25	$ 48,231	$ 999,047	$ (140,328)	$ 6,103			$ 906,975

Consolidated Statements of Eq_2

Consolidated Statements of Equity and Redeemable Noncontrolling Interests (Parentheticals) - $ / shares	3 Months Ended
	Dec. 31, 2023	Jun. 30, 2023
Redeemable Noncontrolling Interests [Member]
Dividends declared, per share (in dollars per share)	$ 0.1	$ 0.1

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating activities
Net income/(loss)	$ 37,728	$ (45,522)
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Equity in net (gains)/losses from partnerships	(5,502)	1,895
Depreciation and amortization	360	341
Deferred income taxes	(914)	(14,211)
Donated securities	1,158	711
Unrealized (gains)/losses on securities	(30,494)	64,078
Loss on deconsolidation of subsidiary	0	3,634
Realized gains on sales of securities	(3,964)	(12,846)
(Increase)/decrease in assets:
Investments in trading securities	125,899	(92,484)
Investments in partnerships:
Contributions to partnerships	(3,590)	(7,510)
Distributions from partnerships	16,616	10,643
Receivable from affiliates	1,641	2,511
Receivable from brokers	8,567	23,667
Investment advisory fees receivable	(904)	4,462
Income taxes receivable	2,760	(2,644)
Other assets	(4,660)	2,609
Increase/(decrease) in liabilities:
Payable to brokers	(3,325)	(1,555)
Income taxes payable	0	(2,040)
Compensation payable	1,233	(5,794)
Accrued expenses and other liabilities	2,466	(497)
Total adjustments	107,347	(25,030)
Net cash provided by/(used in) operating activities	145,075	(70,552)
Investing activities
Purchases of securities	(1,486)	(8,462)
Proceeds from sales of securities	5,975	2,940
Return of capital on securities	1,263	2,329
Deconsolidation of subsidiary cash	0	(1,471)
Proceeds from maturities of debt securities held to maturity	0	5,066
Net cash provided by investing activities	5,752	402
Financing activities
Dividends paid	(4,346)	(4,402)
Purchases of treasury stock	(16,326)	(2,575)
Redemptions of redeemable noncontrolling interests	(4,367)	(30,198)
Net cash used in financing activities	(25,039)	(37,175)
Net increase/(decrease) in cash, cash equivalents and restricted cash	125,788	(107,325)
Cash, cash equivalents and restricted cash at beginning of period	221,269	328,594
Cash, cash equivalents and restricted cash at end of period	347,057	221,269
Supplemental disclosures of cash flow information:
Cash paid for interest	462	216
Cash paid for taxes	7,200	4,024
Reconciliation of Cash, cash equivalents and restricted cash at end of period:
Cash and cash equivalents (includes U.S. Treasury Bills with maturities of 3 months or less)	317,487	218,462
Restricted cash included in receivable from brokers	7,866	2,807
Cash, cash equivalents and restricted cash	347,057	$ 221,269
Cash Held for Real Estate Purchase [Member]
Reconciliation of Cash, cash equivalents and restricted cash at end of period:
Cash and cash equivalents (includes U.S. Treasury Bills with maturities of 3 months or less)	14,263
Receivables from Brokers [Member]
Reconciliation of Cash, cash equivalents and restricted cash at end of period:
Cash and cash equivalents (includes U.S. Treasury Bills with maturities of 3 months or less)	$ 7,441

Note 1 - Organization

Note 1 - Organization	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Unless we have indicated otherwise, or the context otherwise requires, references in this report to “Associated Capital Group, Inc.,” “AC Group,” “the Company,” “AC,” “we,” “us” and “our” or similar terms are to Associated Capital Group, Inc., its predecessors and its subsidiaries. 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. Our proprietary portfolio of cash and investments will be used to invest primarily in funds that we will manage, provide seed capital for new products, expand our geographic presence, develop new markets and pursue strategic acquisitions and alliances. GCIA 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 a 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”, or “PMV SPAC”), a special purpose acquisition corporation, and its sponsor, PMV Consumer Acquisition Holding Company, LLC ("Sponsor", collectively "The PMV Entities") were previously consolidated in the financial statements of AC because AC had a controlling financial interest in these entities through AC's 100% ownership of the manager of the Sponsor. Commencing in August 2022, no no August 2022, 5 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 2,386,295 and 2,407,000 shares as of December 31, 2023 2022,

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Consolidated Financial Statements All intercompany transactions and balances have been eliminated. Subsidiaries are fully consolidated from the date the Company obtains control and continue to be consolidated until the date that such control ceases. The Company’s principal market is in the United States. Use of Estimates The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported on the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Cash Equivalents Cash equivalents primarily consist of an affiliated money market mutual fund which is highly liquid. U.S. Treasury Bills with maturities of three Investments in Securities Securities owned are recorded at fair value in the statements of financial condition with any unrealized gains or losses reported in current period earnings in net gain/(loss) from investments on the consolidated statements of income. Securities transactions and any related gains and losses are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded on the specific identified cost basis and are included in net gain/(loss) from investments on the consolidated statements of income. Management determines the appropriate classification of debt securities at the time of purchase. Government debt securities with maturities of greater than three Investments in securities are reflected in U.S. Treasury Bills, investments in equity securities and investments in affiliated registered investment companies on the consolidated statements of financial condition. Securities sold, but not may not Fair Value of Financial Instruments The Company’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy in accordance with the guidance on fair value measurement. The levels of the fair value hierarchy and their applicability to the Company are described below: • Level 1 1 • Level 2 1 2 not • Level 3 In certain cases, the inputs used to measure fair value may The availability of observable inputs can vary from instrument to instrument and is affected by a wide variety of factors, including, for example, the type of instrument, whether the instrument is new and not 3. In the absence of a closing price, an average of the bid and ask price is used. Bid prices reflect the highest price that market participants are willing to pay for an asset. Ask prices represent the lowest price that market participants are willing to accept for an asset. Cash equivalents three 1 Investments in securities not not 1 2 3 Receivables from Affiliates and Payables to Affiliates Receivables from affiliates consist primarily of sub-advisory fees due from Gabelli Funds, LLC, a subsidiary of GAMCO. Payables to affiliates primarily consist of expenses paid by affiliates on behalf of the Company pursuant to a transitional services agreement with GAMCO entered into in connection with the AC Spin-off. Receivables from and Payables to Brokers Receivables from and payables to brokers consist of amounts related to purchases and sales of securities, restricted cash held on deposit, cash held at broker in anticipation of a real estate purchase and cash amounts held in anticipation of investment. Consolidation The Company assesses all entities with which it is involved for consolidation on a case by case basis depending on the specific facts and circumstances surrounding each entity. Pursuant to the accounting guidance, the Company first not not For any entity in which the Company has determined that it does hold a variable interest, the Company performs an assessment to determine whether it qualifies as a variable interest entity (“VIE”). A VIE is an entity in which either the equity investment at risk is not not Under the variable interest entity model, the Company consolidates those entities where it is determined that the Company is the primary beneficiary of the entity. The Company is determined to be the primary beneficiary when it has a controlling financial interest in the VIE, which is defined as possessing both (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. When the Company alone is not not The Company determines whether it is the primary beneficiary of a VIE at the time it becomes initially involved with the VIE and reconsiders that conclusion as required. Investments and redemptions (either by the Company, related parties or third may Entities that do not not The Company records noncontrolling interests in consolidated entities for which the Company’s ownership is less than 100%. Investments in Partnerships The Company is general partner or co-general partner of various affiliated entities. We also have investments in unaffiliated partnerships, offshore funds and other entities (collectively, “unaffiliated entities”). Given that we are not not The financial statement caption investments in partnerships, in the consolidated statements of financial condition, includes investments in both affiliated and unaffiliated entities. The Company accounts for its investments in partnerships and affiliates under the equity method. Substantially all of the Company’s equity method investees are entities that record their underlying investments at fair value. Therefore, under the equity method of accounting, the Company’s share of the investee’s underlying net income predominantly represents fair value adjustments in the investments held by the equity method investees. The Company’s share of the investee’s underlying net income or loss is based upon the most currently available information and is recorded in net gain/(loss) from investments on the consolidated statements of income. Capital contributions are recorded as an increase in investments when payable, and withdrawals and distributions are recorded as reductions of the investments when receivable. Prepaid capital contributions and distributions receivable are included in other assets in the consolidated statements of financial condition. Depending on the terms of the investment, the Company may Derivative Financial Instruments The Company recognizes all derivatives as either assets or liabilities measured at fair value and includes such derivatives in either investments in securities or securities sold, not not Major Revenue-Generating Services and Revenue Recognition The Company’s revenues are derived primarily from investment advisory and incentive fees. Investment advisory and incentive fees are directly influenced by the level and mix of AUM as fees are derived from a contractually-determined percentage of the balance of each account as well as a percentage of the investment performance of certain accounts. Management fees from Investment Partnerships and offshore funds are computed either monthly or quarterly, and amounts receivable are included in investment advisory fees receivable on the consolidated statements of financial condition. These revenues vary depending upon the level of capital flows, financial market conditions, investment performance and the fee rates applicable to each account. Incentive allocations or fees are generally recognized at the end of an annual measurement period and amounts receivable are included in investment advisory fees receivable on the consolidated statements of financial condition. The Company’s major revenue sources are as follows: Investment advisory and incentive fees. a) Asset-based advisory fees – The Company receives a management fee, payable monthly in advance based on value of the net assets of the client. It is generally set at a rate of 1%-1.5% per annum. Asset-based management fee revenue is recognized as the services are performed over the period. b) Performance-based advisory fees – Certain client contracts call for additional fees and or allocations of income tied to a certain percentage, generally 15%-20%, of the investment performance of the account over a measurement period, typically the calendar year. In addition, the contracts provide that performance-based fees or allocations become fixed in the event of an investor redemption prior to the end of the measurement period. In the event that an account suffers a loss in one not c) Sub-advisory fees – Pursuant to agreements with other investment advisors, the Company receives a percentage of advisory fees received by such advisors from certain of their investment fund clients. These fees may may not The Company reserves the right to waive or reduce asset-based and performance-based fees with respect to certain investors in the investment funds, which may third may may Our advisory fee revenues are influenced by both the amount of AUM and the investment performance of our products. An overall decline in the prices of securities may Fixed Assets and Depreciation Fixed assets are recorded at cost and depreciated using the straight-line method over their estimated useful lives of four thirty-nine Fixed assets as of December 31, 2023 2022 December 31, 2023 2022 Buildings $ 17,748 $ 17,748 Equipment 217 207 Total 17,965 17,955 Less: accumulated depreciation (1,462 ) (1,102 ) Net book value $ 16,503 $ 16,853 Allocated Expenses The Company is charged or incurs certain overhead expenses that are paid by, or paid on our behalf by, other affiliates and are included in other operating expenses on the consolidated statements of income. These overhead expenses primarily relate to centralized functions, including finance and accounting, legal, compliance, treasury, tax, internal audit, information technology, human resources and risk management. These overhead expenses are allocated to the Company by other affiliates (primarily GAMCO) or allocated by the Company to other affiliates as the expenses are incurred, based upon direct usage when identifiable, or by revenue, headcount, space or other allocation methodologies periodically reviewed by the management of the Company and the affiliates. The compensation expense and related payroll taxes and benefits of certain employees that provide services to both AC and affiliates are allocated based upon the relative time each employee devotes to each affiliate. These allocated compensation expenses are included in compensation on the consolidated statements of income. All of the allocations and estimates in the financial statements are based on assumptions that management of AC believes are reasonable. However, these allocations may not may Management Fee Management fee expense in the amount of 10% of the aggregate pre-tax profits, before consideration of this fee and before consideration of the income attributable to consolidated funds and partnerships, is paid to the Executive Chair or his designees in accordance with his employment agreement. Stock-Based Compensation From time to time, the Company’s Board of Directors approves grants of Phantom Restricted Stock awards (“Phantom RSAs”). The Phantom RSAs are settled by a cash payment, net of applicable withholding tax, on the vesting dates. In addition, an amount equivalent to the cumulative dividends declared on shares of the Company’s Class A common stock during the vesting period will be paid to participants on vesting. The Phantom RSAs are accounted for as a liability because cash settlement is required and compensation will be recognized over the vesting period. The Company amortizes each award based on the applicable vesting period. In determining the compensation expense to be recognized each period, the Company will remeasure 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. Goodwill Goodwill is initially measured as the excess of the cost of an acquired business over the sum of the fair value assigned to assets acquired less the liabilities assumed. Goodwill is tested for impairment at least annually on November 30th November 30, 2023 2022 not not 2023 2022 Income Taxes For purposes of the preparation of the consolidated financial statements, the provision for income taxes is computed using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income tax expense/benefit in the period that includes the enactment date of the change in tax rate. The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not not For uncertain tax positions the Company first not not 50% Redeemable Noncontrolling Interests Noncontrolling interests in Investment Partnerships or other entities that are redeemable at the option of the holder are classified as redeemable noncontrolling interests in the mezzanine section of the consolidated statements of financial condition between liabilities and equity and are measured at their redemption values at the end of each period. For the years ended December 31, 2023 2022 third Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and receivables from brokers. The Company maintains cash and cash equivalents primarily in the Gabelli U.S. Treasury Money Market Fund, which invests fully in instruments issued by the U.S. government. Receivables from brokers and financial institutions can exceed the federally insured limit. The concentration of credit risk with respect to advisory fees and incentive fees, which are included in investment advisory fees receivable and receivables from affiliates on the consolidated statements of financial condition, is generally limited due to the short payment terms extended to clients by the Company. All investments in securities are held at third Business Segment The Company operates in one Recent Accounting Developments In December 2023, 2023 09, Income Taxes (Topic 740 December 15, 2024, In November 2023, 2023 07, Segment Reporting (Topic 280 December 15, 2023 December 15, 2024, In June 2016, 2016 13, Accounting for Financial Instruments - Credit Losses (Topic 326 2016 13” 2016 13, November 2019, 2019 10, three January 1, 2023. January 1, 2023 not In January 2017, 2017 04, Intangibles Goodwill and Other 2019 10, January 1, 2023. January 1, 2023 not

Note 3 - Revenue

Note 3 - Revenue	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	3. The Company’s revenue is accounted for as contracts with customers, and the timing of revenue recognition is based on the Company’s analysis of the provisions of each respective contract. Depending upon the specific terms, revenue may may may Total revenues by type were as follows for the years ended December 31, 2023 2022 Year Ended December 31, 2023 2022 Investment advisory and incentive fees Asset-based advisory fees $ 5,120 $ 5,178 Performance-based advisory fees 3,462 2,544 Sub-advisory fees 3,742 7,079 Sub-total 12,324 14,801 Other Miscellaneous 359 427 Total $ 12,683 $ 15,228

Note 4 - Investments in Securit

Note 4 - Investments in Securities	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	4. Investments in securities at December 31, 2023 2022 December 31, 2023 December 31, 2022 Cost Fair Value Cost Fair Value Debt - Trading Securities: U.S. Treasury Bills $ 88,300 $ 89,155 $ 184,636 $ 186,001 Equity Securities: Common stocks 198,269 191,346 221,794 189,977 Mutual funds 566 1,186 539 906 Other investments 5,166 4,051 6,364 4,702 Total investments in equity securities 204,001 196,583 228,697 195,585 Total investments in securities $ 292,301 $ 285,738 $ 413,333 $ 381,586 During the year ended December 31, 2022, 2023 2021 no Securities sold, not December 31, 2023 2022 December 31, 2023 December 31, 2022 Cost Fair Value Cost Fair Value Common stocks $ 5,227 $ 5,035 $ 2,918 $ 2,509 Other investments 631 883 499 365 Total securities sold, not yet purchased $ 5,858 $ 5,918 $ 3,417 $ 2,874 Investments in affiliated registered investment companies at December 31, 2023 2022 December 31, 2023 December 31, 2022 Cost Fair Value Cost Fair Value Closed-end funds $ 39,680 $ 53,048 $ 45,029 $ 56,772 Mutual funds 50,136 73,703 50,224 69,438 Total investments in affiliated registered investment companies $ 89,816 $ 126,751 $ 95,253 $ 126,210

Note 5 - Investment Partnership

Note 5 - Investment Partnerships and Other Entities	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Investment Holdings [Text Block]	5. The Company is general partner or co-general partner of various affiliated entities whose underlying assets consist primarily of marketable securities (“Affiliated Entities”). The Company had investments in Affiliated Entities totaling $107.4 million and $114.7 million at December 31, 2023 2022 December 31, 2023 2022 none Investments in partnerships that are not Capital may may may No no PMV Consumer Acquisition Corp. Commencing in August 2022, no no We accounted for our remaining interest in PMV (comprising 1 million shares of Class A common stock and 500,000 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 investments in Class A common stock and public warrants were 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 recognized in Net gain/(loss) from investments in the consolidated statements of income. On December 27, 2022, We accounted for our remaining interest in the Sponsor (comprising our original $4.0 million investment) under the equity method. The initial fair value was $1.0 million which was valued using the market approach. Our investment is recorded in Investments in partnerships in the consolidated statements of financial condition and related earnings or loss from our share of the underlying net income or loss will be recognized in Net gain/(loss) from investments in the consolidated statements of income. We have continuing involvement with the Sponsor through our ownership interest. Prior to August 2022, Consolidated Entities The following table reflects the net impact of the consolidated investment partnerships (“Consolidated Entities”) on the consolidated statements of financial condition (in thousands): December 31, 2023 Prior to Consolidated Assets Consolidation Entities As Reported Cash and cash equivalents $ 299,508 $ 17,979 $ 317,487 Investments in U.S. Treasury Bills 79,714 9,441 89,155 Investments in equity securities 149,154 47,429 196,583 Investments in affiliated registered investment companies 181,641 (54,890 ) 126,751 Investments in partnerships 163,226 (20,252 ) 142,974 Receivable from brokers (1) 25,026 5,242 30,268 Investment advisory fees receivable 4,714 (3 ) 4,711 Other assets (1) 33,444 2,424 35,868 Total assets $ 936,427 $ 7,370 $ 943,797 Liabilities, redeemable noncontrolling interests and equity Securities sold, not yet purchased $ 5,639 $ 279 $ 5,918 Payable to brokers and other liabilities (1) 23,813 988 24,801 Redeemable noncontrolling interests - 6,103 6,103 Total equity 906,975 - 906,975 Total liabilities, redeemable noncontrolling interests and equity $ 936,427 $ 7,370 $ 943,797 December 31, 2022 Prior to Consolidated Assets Consolidation Entities As Reported Cash and cash equivalents $ 209,941 $ 8,521 $ 218,462 Investments in U.S. Treasury Bills 183,528 2,473 186,001 Investments in equity securities 129,942 65,643 195,585 Investments in affiliated registered investment companies 178,689 (52,479 ) 126,210 Investments in partnerships 168,286 (17,788 ) 150,498 Receivable from brokers 4,002 8,070 12,072 Investment advisory fees receivable 3,814 (7 ) 3,807 Other assets (1) 35,045 10 35,055 Total assets $ 913,247 $ 14,443 $ 927,690 Liabilities, redeemable noncontrolling interests and equity Securities sold, not yet purchased $ 2,678 $ 196 $ 2,874 Payable to brokers and other liabilities (1) 20,373 4,054 24,427 Redeemable noncontrolling interests - 10,193 10,193 Total equity 890,196 - 890,196 Total liabilities, redeemable noncontrolling interests and equity $ 913,247 $ 14,443 $ 927,690 ( 1 The following table reflects the net impact of the Consolidated Entities on the consolidated statements of income (in thousands): Year Ended December 31, 2023 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 13,125 $ (442 ) $ 12,683 Total expenses 28,566 1,064 29,630 Operating loss (15,441 ) (1,506 ) (16,947 ) Total other income/(expense), net 64,452 (640 ) 63,812 Income before income taxes 49,011 (2,146 ) 46,865 Income tax expense 11,560 (2,423 ) 9,137 Income/(loss) before noncontrolling interests 37,451 277 37,728 Income attributable to noncontrolling interests, net of taxes - 277 277 Net income/(loss) $ 37,451 $ - $ 37,451 Year Ended December 31, 2022 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 15,884 $ (656 ) $ 15,228 Total expenses 24,538 1,952 26,490 Operating loss (8,654 ) (2,608 ) (11,262 ) Total other income/(expense), net (55,196 ) 5,993 (49,203 ) Income before income taxes (63,850 ) 3,385 (60,465 ) Income tax expense (14,943 ) - (14,943 ) Income/(loss) before noncontrolling interests (48,907 ) 3,385 (45,522 ) Income attributable to noncontrolling interests, net of taxes - 3,385 3,385 Net income/(loss) $ (48,907 ) $ - $ (48,907 ) Variable Interest Entity With respect to the consolidated VIE, its assets may no The following table presents the balances related to the VIE that is consolidated and included on the consolidated statements of financial condition as well as the Company’s net interest in the VIE (in thousands): December 31, 2023 December 31, 2022 Cash and cash equivalents $ 302 $ 500 Investments in equity securities 9,695 8,396 Receivable from brokers 166 304 Accrued expenses and other liabilities (1) (46 ) (33 ) Redeemable noncontrolling interests (451 ) (428 ) AC Group's net interests in consolidated VIEs $ 9,666 $ 8,739 ( 1 Voting Interest Entity We have an investment partnership that is consolidated as a VOE for both 2023 2022 2023 2022 2023 2022 2023 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 6 - Fair Value

Note 6 - Fair Value	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	6. The following tables present information about the Company’s assets and liabilities by major category measured at fair value on a recurring basis as of December 31, 2023 2022 December 31, 2023 Assets Level 1 Level 2 Level 3 Total Cash equivalents $ 315,017 $ - $ - $ 315,017 Investments in securities (including GAMCO stock): Trading - U.S. Treasury Bills 89,155 - - 89,155 Common stocks 187,963 1,348 2,035 191,346 Mutual funds 1,186 - - 1,186 Other 3,347 485 219 4,051 Total investments in securities 281,651 1,833 2,254 285,738 Investments in affiliated registered investment companies: Closed-end funds - equity securities 44,692 - - 44,692 Preferred securities issued by Closed-end funds (a) - - 8,356 8,356 Mutual funds 73,703 - - 73,703 Total investments in affiliated registered investment companies 118,395 - 8,356 126,751 Total investments held at fair value 400,046 1,833 10,610 412,489 Total assets at fair value $ 715,063 $ 1,833 $ 10,610 $ 727,506 Liabilities Common stocks $ 5,035 $ - $ - $ 5,035 Other 579 304 - 883 Securities sold, not yet purchased 5,614 304 - 5,918 Total liabilities at fair value $ 5,614 $ 304 $ - $ 5,918 (a) These securities represent privately issued, puttable and callable preferred securities issued by affiliated closed-end funds. December 31, 2022 Assets Level 1 Level 2 Level 3 Total Cash equivalents $ 216,313 $ - $ - $ 216,313 Investments in securities (including GAMCO stock): Trading - U.S. Treasury Bills 186,001 - - 186,001 Common stocks 185,952 1,990 2,035 189,977 Mutual funds 906 - - 906 Other 4,132 317 253 4,702 Total investments in securities 376,991 2,307 2,288 381,586 Investments in affiliated registered investment companies: Closed-end funds 45,286 - 11,486 56,772 Mutual funds 69,438 - - 69,438 Total investments in affiliated registered investment companies 114,724 - 11,486 126,210 Total investments held at fair value 491,715 2,307 13,774 507,796 Total assets at fair value $ 708,028 $ 2,307 $ 13,774 $ 724,109 Liabilities Common stocks $ 2,509 $ - $ - $ 2,509 Other 132 233 - 365 Securities sold, not yet purchased 2,641 233 - 2,874 Total liabilities at fair value $ 2,641 $ 233 $ - $ 2,874 The following table presents additional information about assets and liabilities by major category measured at fair value on a recurring basis as of the dates specified (in thousands) and for which the Company has utilized Level 3 Year Ended December 31, 2023 Year Ended December 31, 2022 Assets: Total Total Beginning balance $ 13,774 $ 10,600 Total gains/(losses) (34 ) 27 Purchases 1,000 5,900 Sales/return of capital (4,130 ) (2,753 ) Ending balance $ 10,610 $ 13,774 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 $ (34 ) $ 27 Total realized and unrealized gains and losses for level 3 During the years ended December 31, 2023 2022 no 1 3 3 1.

Note 7 - Income Taxes

Note 7 - Income Taxes	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	7. The provision for income taxes for the years ended December 31, 2023 2022 2023 2022 Federal: Current $ 9,528 $ (348 ) Deferred 1,566 (13,237 ) State and local: Current 471 (463 ) Deferred (57 ) (925 ) Foreign: Current 52 41 Deferred (2,423 ) (11 ) Total $ 9,137 $ (14,943 ) A reconciliation of the federal statutory rate to the effective tax rate for the years ended December 31, 2023 2022 2023 2022 Statutory Federal income tax rate 21.0 % 21.0 % State income tax, net of Federal benefit 0.8 1.7 Dividends received deduction (0.9 ) 0.6 Deferred tax asset valuation allowance - (1.0 ) Foreign investments (6.2 ) - Foreign tax rate differential 2.1 - Foreign-derived intangible income 0.1 0.9 Noncontrolling interests 1.6 0.6 Nondeductible compensation 2.1 (0.1 ) Other (1.1 ) 1.0 Effective income tax rate 19.5 % 24.7 % Significant components of our deferred tax assets and liabilities as of December 31, 2023 2022 2023 2022 Deferred tax assets: Stock-based compensation expense $ 794 $ 1,073 Deferred compensation 409 542 Investments in securities and partnerships 5,085 4,660 Shareholder-designated contribution carryover 1,842 1,902 Federal & State net operating loss carryforward 951 11 Other 64 45 9,145 8,233 Deferred tax liabilities: Other liabilities (227 ) (221 ) (227 ) (221 ) Gross deferred tax assets/(liabilities) 8,918 8,012 Valuation allowance (350 ) (336 ) Net deferred tax assets/(liabilities) $ 8,568 $ 7,676 The Company believes that it is more-likely-than- not not December 31, 2023 2022 The Company records penalties and interest related to tax uncertainties in income taxes. These amounts are included in accrued expenses and other liabilities on the consolidated statements of financial condition. As of and for the periods ended December 31, 2023 2022 not The Company remains subject to income tax examination by the IRS for the years 2020 2022 2017.

Note 8 - Earnings Per Share

Note 8 - Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	8. 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: Year Ended December 31, (In thousands, except per share amounts) 2023 2022 Income/(loss) before noncontrolling interests $ 37,728 $ (45,522 ) Less: Income attributable to noncontrolling interests 277 3,385 Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders $ 37,451 $ (48,907 ) Weighted average number of shares of Common Stock outstanding - basic 21,771 22,024 Weighted average number of shares of Common Stock outstanding - diluted 21,771 22,024 Basic and Diluted EPS $ 1.72 $ (2.22 )

Note 9 - Related Party Transact

Note 9 - Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	9. The following is a summary of certain related party transactions. GGCP, Inc., a private company controlled by the Executive Chair, indirectly owns a majority of our Class B stock, representing approximately 96% of the combined voting power and 86 December 31, 2023 Investments in Securities At December 31, 2023 2022 December 31, 2023 2022 2023 2022 2022 At December 31, 2023 2022 December 31, 2023 2022 Investments in equity mutual funds advised by our affiliates (primarily Gabelli Funds, an investment advisor under common control with the Company), totaled $126.8 million and $126.2 million at December 31, 2023 2022 December 31, 2023 2022 Investments in Partnerships The Company serves as an investment advisor and/or general partner for certain affiliated investment partnerships and receives management fees and performance-based incentive fees for providing such services. Investment advisory and incentive fees relating to such services were $ 8.6 million and $ 7.7 million for the years ending December 31, 2023 2022 respectively, and are included in investment advisory and incentive fees on the consolidated statements of income. Included in Investment advisory fees receivable in the consolidated statements of financial condition are the investment advisory and incentive fees that were accrued but not December 31, 2023 2022 , respectively. We had an aggregate investment in these affiliated Investment Partnerships of approximately $ 107.4 million and $ 114.7 million at December 31, 2023 2022 , respectively. Investment Advisory Services The Company serves as sub-advisor to GAMCO International SICAV – GAMCO Merger Arbitrage, an investment company incorporated under the laws of Luxembourg (the “SICAV”). Pursuant to a funds transfer agreement between GCIA, a wholly owned subsidiary of the Company, and Gabelli Funds, Gabelli Funds pays GCIA 90% of the net revenues received by Gabelli Funds related to certain services provided to the SICAV. For this purpose, net revenues are defined as gross advisory fees less expenses related to payouts and expenses of the SICAV paid by Gabelli Funds. GCIA received $3.7 million and $7.1 million during 2023 2022 December 2023, January 2024. Gabelli Merger Plus+ Trust Plc. (“GMP+”) is an investment company based in the United Kingdom. Our affiliate, Gabelli Funds, is the investment manager (the “AIFM”) and the Company functions as the sub-advisor. Gabelli Funds receives the management fee of 85 basis points (0.85%) on the net assets of the fund and pays 65 basis points for portfolio management and other services to the Company. Because the Company has a 92% controlling ownership interest as of December 31, 2023 ( December 2022), Compensation In accordance with an employment agreement, the Company pays the Executive Chair, or his designated assignees, a management fee equal to 10% of the Company’s income before management fee and income taxes and excludes the impact of consolidating entities. In 2023 2022 Affiliated Receivables/Payables At December 31, 2023 2022 There were no December 31, 2023 2022 Leases Our offices are owned by a wholly owned subsidiary of AC and are located at 191 06830. 2023 2022 AC acquired a building at 3 March 3, 2020 2021. December 31, 2023 2022 In June 2016, December 31, 2023 2022 Other AC and GAMCO entered into a transitional administrative and management services agreement in connection with the spin-off of AC from GAMCO on November 30, 2015. not December 31, 2023 2022 December 31, 2023 2022

Note 10 - Equity

Note 10 - Equity	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Equity [Text Block]	10. 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 ten not Stock Award and Incentive Plan The Company maintains one May 3, 2016, may one may not ten may December 31, 2023 There were no RSAs outstanding as of December 31, 2023 2022 Based on the closing price of the Company’s Class A Common Stock on December 31, 2023 2022 The following table summarizes our stock-based compensation, as well as unrecognized compensation, for the periods ended December 31, 2023 2022 Year Ended December 31, 2023 2022 Stock-based compensation expense $ 1,434 $ 1,811 Remaining expense to be recognized, if all vesting conditions are met (1) 4,956 4,142 Weighted average remaining contractual term (in years) 2.1 1.8 ( 1 not The following table summarizes Phantom RSA ("PRSA") activity: PRSA's Weighted Average Grant Date Fair Value Balance at December 31, 2022 210,910 $ 36.17 Granted - - Forfeited - - Vested - - Balance at March 31, 2023 210,910 $ 36.17 Granted 97,000 39.61 Forfeited - - Vested - - Balance at June 30, 2023 307,910 $ 37.25 Granted - - Forfeited - - Vested (56,560 ) 37.40 Balance at September 30, 2023 251,350 $ 37.22 Granted - - Forfeited - - Vested (17,655 ) 35.12 Balance at December 31, 2023 233,695 $ 37.38 Stock Repurchase Program In December 2015, February 7, 2017, August 3, 2017 May 8, 2018, February 6, 2024, 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 January 1, 2022 677,144 Share repurchases under stock repurchase program (1) (67,792 ) $ 37.98 Remaining repurchase authorization December 31, 2022 609,352 Share repurchases under stock repurchase program (1) (452,688 ) $ 36.06 Remaining repurchase authorization December 31, 2023 156,664 ( 1 2023 2022 Dividends During 2023 2022

Note 11 - Retirement Plan

Note 11 - Retirement Plan	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Retirement Benefits [Text Block]	11. The Company participates in an incentive savings plan (the “Savings Plan”) covering substantially all employees. Company contributions to the Savings Plan are determined annually by management of the Company but may not 1986, 2023 2022

Note 12 - Guarantees, Contingen

Note 12 - Guarantees, Contingencies and Commitments	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	12. From time to time, the Company may may may not December 31, 2023 The Company has also entered into arrangements with various other third third no no

Note 13 - Shareholder Designate

Note 13 - Shareholder Designated Contribution Plan	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Shareholder Designated Contribution Plan [Text Block]	13. The Company has established a Shareholder Designated Charitable Contribution program. Under the program, from time to time each shareholder is eligible to designate a charity to which the Company would make a donation at a rate per share, approved by the Board of Directors, based upon the actual number of shares registered in the shareholder’s name. The Company recorded an expense of $4.0 million and $3.1 million related to this program for the years ended December 31, 2023 2022 December 31, 2023 2022

Note 14 - Subsequent Events

Note 14 - Subsequent Events	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Subsequent Events [Text Block]	14. Subsequent Events From January 1, 2024 March 21, 2024,

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Dec. 31, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	9B: OTHER INFORMATION During the fiscal year ended December 31, 2023, none 10b5 1 10b5 1
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported on the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Equivalents Cash equivalents primarily consist of an affiliated money market mutual fund which is highly liquid. U.S. Treasury Bills with maturities of three
Marketable Securities, Policy [Policy Text Block]	Investments in Securities Securities owned are recorded at fair value in the statements of financial condition with any unrealized gains or losses reported in current period earnings in net gain/(loss) from investments on the consolidated statements of income. Securities transactions and any related gains and losses are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded on the specific identified cost basis and are included in net gain/(loss) from investments on the consolidated statements of income. Management determines the appropriate classification of debt securities at the time of purchase. Government debt securities with maturities of greater than three Investments in securities are reflected in U.S. Treasury Bills, investments in equity securities and investments in affiliated registered investment companies on the consolidated statements of financial condition. Securities sold, but not may not
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments The Company’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy in accordance with the guidance on fair value measurement. The levels of the fair value hierarchy and their applicability to the Company are described below: • Level 1 1 • Level 2 1 2 not • Level 3 In certain cases, the inputs used to measure fair value may The availability of observable inputs can vary from instrument to instrument and is affected by a wide variety of factors, including, for example, the type of instrument, whether the instrument is new and not 3. In the absence of a closing price, an average of the bid and ask price is used. Bid prices reflect the highest price that market participants are willing to pay for an asset. Ask prices represent the lowest price that market participants are willing to accept for an asset. Cash equivalents three 1 Investments in securities not not 1 2 3
Receivables From Affiliates and Payables to Affiliates [Policy Text Block]	Receivables from Affiliates and Payables to Affiliates Receivables from affiliates consist primarily of sub-advisory fees due from Gabelli Funds, LLC, a subsidiary of GAMCO. Payables to affiliates primarily consist of expenses paid by affiliates on behalf of the Company pursuant to a transitional services agreement with GAMCO entered into in connection with the AC Spin-off.
Receivables From and Payables to Brokers [Policy Text Block]	Receivables from and Payables to Brokers Receivables from and payables to brokers consist of amounts related to purchases and sales of securities, restricted cash held on deposit, cash held at broker in anticipation of a real estate purchase and cash amounts held in anticipation of investment.
Consolidation, Policy [Policy Text Block]	Consolidation The Company assesses all entities with which it is involved for consolidation on a case by case basis depending on the specific facts and circumstances surrounding each entity. Pursuant to the accounting guidance, the Company first not not For any entity in which the Company has determined that it does hold a variable interest, the Company performs an assessment to determine whether it qualifies as a variable interest entity (“VIE”). A VIE is an entity in which either the equity investment at risk is not not Under the variable interest entity model, the Company consolidates those entities where it is determined that the Company is the primary beneficiary of the entity. The Company is determined to be the primary beneficiary when it has a controlling financial interest in the VIE, which is defined as possessing both (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. When the Company alone is not not The Company determines whether it is the primary beneficiary of a VIE at the time it becomes initially involved with the VIE and reconsiders that conclusion as required. Investments and redemptions (either by the Company, related parties or third may Entities that do not not The Company records noncontrolling interests in consolidated entities for which the Company’s ownership is less than 100%.
Investments in Partnerships and Affiliates [Policy Text Block]	Investments in Partnerships The Company is general partner or co-general partner of various affiliated entities. We also have investments in unaffiliated partnerships, offshore funds and other entities (collectively, “unaffiliated entities”). Given that we are not not The financial statement caption investments in partnerships, in the consolidated statements of financial condition, includes investments in both affiliated and unaffiliated entities. The Company accounts for its investments in partnerships and affiliates under the equity method. Substantially all of the Company’s equity method investees are entities that record their underlying investments at fair value. Therefore, under the equity method of accounting, the Company’s share of the investee’s underlying net income predominantly represents fair value adjustments in the investments held by the equity method investees. The Company’s share of the investee’s underlying net income or loss is based upon the most currently available information and is recorded in net gain/(loss) from investments on the consolidated statements of income. Capital contributions are recorded as an increase in investments when payable, and withdrawals and distributions are recorded as reductions of the investments when receivable. Prepaid capital contributions and distributions receivable are included in other assets in the consolidated statements of financial condition. Depending on the terms of the investment, the Company may
Derivatives, Policy [Policy Text Block]	Derivative Financial Instruments The Company recognizes all derivatives as either assets or liabilities measured at fair value and includes such derivatives in either investments in securities or securities sold, not not
Revenue [Policy Text Block]	Major Revenue-Generating Services and Revenue Recognition The Company’s revenues are derived primarily from investment advisory and incentive fees. Investment advisory and incentive fees are directly influenced by the level and mix of AUM as fees are derived from a contractually-determined percentage of the balance of each account as well as a percentage of the investment performance of certain accounts. Management fees from Investment Partnerships and offshore funds are computed either monthly or quarterly, and amounts receivable are included in investment advisory fees receivable on the consolidated statements of financial condition. These revenues vary depending upon the level of capital flows, financial market conditions, investment performance and the fee rates applicable to each account. Incentive allocations or fees are generally recognized at the end of an annual measurement period and amounts receivable are included in investment advisory fees receivable on the consolidated statements of financial condition. The Company’s major revenue sources are as follows: Investment advisory and incentive fees. a) Asset-based advisory fees – The Company receives a management fee, payable monthly in advance based on value of the net assets of the client. It is generally set at a rate of 1%-1.5% per annum. Asset-based management fee revenue is recognized as the services are performed over the period. b) Performance-based advisory fees – Certain client contracts call for additional fees and or allocations of income tied to a certain percentage, generally 15%-20%, of the investment performance of the account over a measurement period, typically the calendar year. In addition, the contracts provide that performance-based fees or allocations become fixed in the event of an investor redemption prior to the end of the measurement period. In the event that an account suffers a loss in one not c) Sub-advisory fees – Pursuant to agreements with other investment advisors, the Company receives a percentage of advisory fees received by such advisors from certain of their investment fund clients. These fees may may not The Company reserves the right to waive or reduce asset-based and performance-based fees with respect to certain investors in the investment funds, which may third may may Our advisory fee revenues are influenced by both the amount of AUM and the investment performance of our products. An overall decline in the prices of securities may
Depreciation, Depletion, and Amortization [Policy Text Block]	Fixed Assets and Depreciation Fixed assets are recorded at cost and depreciated using the straight-line method over their estimated useful lives of four thirty-nine Fixed assets as of December 31, 2023 2022 December 31, 2023 2022 Buildings $ 17,748 $ 17,748 Equipment 217 207 Total 17,965 17,955 Less: accumulated depreciation (1,462 ) (1,102 ) Net book value $ 16,503 $ 16,853
Allocated Expenses [Policy Text Block]	Allocated Expenses The Company is charged or incurs certain overhead expenses that are paid by, or paid on our behalf by, other affiliates and are included in other operating expenses on the consolidated statements of income. These overhead expenses primarily relate to centralized functions, including finance and accounting, legal, compliance, treasury, tax, internal audit, information technology, human resources and risk management. These overhead expenses are allocated to the Company by other affiliates (primarily GAMCO) or allocated by the Company to other affiliates as the expenses are incurred, based upon direct usage when identifiable, or by revenue, headcount, space or other allocation methodologies periodically reviewed by the management of the Company and the affiliates. The compensation expense and related payroll taxes and benefits of certain employees that provide services to both AC and affiliates are allocated based upon the relative time each employee devotes to each affiliate. These allocated compensation expenses are included in compensation on the consolidated statements of income. All of the allocations and estimates in the financial statements are based on assumptions that management of AC believes are reasonable. However, these allocations may not may
Management and Investment Advisory Fees, Policy [Policy Text Block]	Management Fee Management fee expense in the amount of 10% of the aggregate pre-tax profits, before consideration of this fee and before consideration of the income attributable to consolidated funds and partnerships, is paid to the Executive Chair or his designees in accordance with his employment agreement.
Share-Based Payment Arrangement [Policy Text Block]	Stock-Based Compensation From time to time, the Company’s Board of Directors approves grants of Phantom Restricted Stock awards (“Phantom RSAs”). The Phantom RSAs are settled by a cash payment, net of applicable withholding tax, on the vesting dates. In addition, an amount equivalent to the cumulative dividends declared on shares of the Company’s Class A common stock during the vesting period will be paid to participants on vesting. The Phantom RSAs are accounted for as a liability because cash settlement is required and compensation will be recognized over the vesting period. The Company amortizes each award based on the applicable vesting period. In determining the compensation expense to be recognized each period, the Company will remeasure 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.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill Goodwill is initially measured as the excess of the cost of an acquired business over the sum of the fair value assigned to assets acquired less the liabilities assumed. Goodwill is tested for impairment at least annually on November 30th November 30, 2023 2022 not not 2023 2022
Income Tax, Policy [Policy Text Block]	Income Taxes For purposes of the preparation of the consolidated financial statements, the provision for income taxes is computed using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income tax expense/benefit in the period that includes the enactment date of the change in tax rate. The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not not For uncertain tax positions the Company first not not 50%
Noncontrolling Interests [Policy Text Block]	Redeemable Noncontrolling Interests Noncontrolling interests in Investment Partnerships or other entities that are redeemable at the option of the holder are classified as redeemable noncontrolling interests in the mezzanine section of the consolidated statements of financial condition between liabilities and equity and are measured at their redemption values at the end of each period. For the years ended December 31, 2023 2022 third
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and receivables from brokers. The Company maintains cash and cash equivalents primarily in the Gabelli U.S. Treasury Money Market Fund, which invests fully in instruments issued by the U.S. government. Receivables from brokers and financial institutions can exceed the federally insured limit. The concentration of credit risk with respect to advisory fees and incentive fees, which are included in investment advisory fees receivable and receivables from affiliates on the consolidated statements of financial condition, is generally limited due to the short payment terms extended to clients by the Company. All investments in securities are held at third
Segment Reporting, Policy [Policy Text Block]	Business Segment The Company operates in one
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Developments In December 2023, 2023 09, Income Taxes (Topic 740 December 15, 2024, In November 2023, 2023 07, Segment Reporting (Topic 280 December 15, 2023 December 15, 2024, In June 2016, 2016 13, Accounting for Financial Instruments - Credit Losses (Topic 326 2016 13” 2016 13, November 2019, 2019 10, three January 1, 2023. January 1, 2023 not In January 2017, 2017 04, Intangibles Goodwill and Other 2019 10, January 1, 2023. January 1, 2023 not

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 31, 2023 2022 Buildings $ 17,748 $ 17,748 Equipment 217 207 Total 17,965 17,955 Less: accumulated depreciation (1,462 ) (1,102 ) Net book value $ 16,503 $ 16,853

Note 3 - Revenue (Tables)

Note 3 - Revenue (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Disaggregation of Revenue [Table Text Block]	Year Ended December 31, 2023 2022 Investment advisory and incentive fees Asset-based advisory fees $ 5,120 $ 5,178 Performance-based advisory fees 3,462 2,544 Sub-advisory fees 3,742 7,079 Sub-total 12,324 14,801 Other Miscellaneous 359 427 Total $ 12,683 $ 15,228

Note 4 - Investments in Secur_2

Note 4 - Investments in Securities (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]	December 31, 2023 December 31, 2022 Cost Fair Value Cost Fair Value Debt - Trading Securities: U.S. Treasury Bills $ 88,300 $ 89,155 $ 184,636 $ 186,001 Equity Securities: Common stocks 198,269 191,346 221,794 189,977 Mutual funds 566 1,186 539 906 Other investments 5,166 4,051 6,364 4,702 Total investments in equity securities 204,001 196,583 228,697 195,585 Total investments in securities $ 292,301 $ 285,738 $ 413,333 $ 381,586 December 31, 2023 December 31, 2022 Cost Fair Value Cost Fair Value Closed-end funds $ 39,680 $ 53,048 $ 45,029 $ 56,772 Mutual funds 50,136 73,703 50,224 69,438 Total investments in affiliated registered investment companies $ 89,816 $ 126,751 $ 95,253 $ 126,210
Security Sold Short [Table Text Block]	December 31, 2023 December 31, 2022 Cost Fair Value Cost Fair Value Common stocks $ 5,227 $ 5,035 $ 2,918 $ 2,509 Other investments 631 883 499 365 Total securities sold, not yet purchased $ 5,858 $ 5,918 $ 3,417 $ 2,874

Note 5 - Investment Partnersh_2

Note 5 - Investment Partnerships and Other Entities (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Condensed Balance Sheet [Table Text Block]	December 31, 2023 Prior to Consolidated Assets Consolidation Entities As Reported Cash and cash equivalents $ 299,508 $ 17,979 $ 317,487 Investments in U.S. Treasury Bills 79,714 9,441 89,155 Investments in equity securities 149,154 47,429 196,583 Investments in affiliated registered investment companies 181,641 (54,890 ) 126,751 Investments in partnerships 163,226 (20,252 ) 142,974 Receivable from brokers (1) 25,026 5,242 30,268 Investment advisory fees receivable 4,714 (3 ) 4,711 Other assets (1) 33,444 2,424 35,868 Total assets $ 936,427 $ 7,370 $ 943,797 Liabilities, redeemable noncontrolling interests and equity Securities sold, not yet purchased $ 5,639 $ 279 $ 5,918 Payable to brokers and other liabilities (1) 23,813 988 24,801 Redeemable noncontrolling interests - 6,103 6,103 Total equity 906,975 - 906,975 Total liabilities, redeemable noncontrolling interests and equity $ 936,427 $ 7,370 $ 943,797 December 31, 2022 Prior to Consolidated Assets Consolidation Entities As Reported Cash and cash equivalents $ 209,941 $ 8,521 $ 218,462 Investments in U.S. Treasury Bills 183,528 2,473 186,001 Investments in equity securities 129,942 65,643 195,585 Investments in affiliated registered investment companies 178,689 (52,479 ) 126,210 Investments in partnerships 168,286 (17,788 ) 150,498 Receivable from brokers 4,002 8,070 12,072 Investment advisory fees receivable 3,814 (7 ) 3,807 Other assets (1) 35,045 10 35,055 Total assets $ 913,247 $ 14,443 $ 927,690 Liabilities, redeemable noncontrolling interests and equity Securities sold, not yet purchased $ 2,678 $ 196 $ 2,874 Payable to brokers and other liabilities (1) 20,373 4,054 24,427 Redeemable noncontrolling interests - 10,193 10,193 Total equity 890,196 - 890,196 Total liabilities, redeemable noncontrolling interests and equity $ 913,247 $ 14,443 $ 927,690
Condensed Income Statement [Table Text Block]	Year Ended December 31, 2023 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 13,125 $ (442 ) $ 12,683 Total expenses 28,566 1,064 29,630 Operating loss (15,441 ) (1,506 ) (16,947 ) Total other income/(expense), net 64,452 (640 ) 63,812 Income before income taxes 49,011 (2,146 ) 46,865 Income tax expense 11,560 (2,423 ) 9,137 Income/(loss) before noncontrolling interests 37,451 277 37,728 Income attributable to noncontrolling interests, net of taxes - 277 277 Net income/(loss) $ 37,451 $ - $ 37,451 Year Ended December 31, 2022 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 15,884 $ (656 ) $ 15,228 Total expenses 24,538 1,952 26,490 Operating loss (8,654 ) (2,608 ) (11,262 ) Total other income/(expense), net (55,196 ) 5,993 (49,203 ) Income before income taxes (63,850 ) 3,385 (60,465 ) Income tax expense (14,943 ) - (14,943 ) Income/(loss) before noncontrolling interests (48,907 ) 3,385 (45,522 ) Income attributable to noncontrolling interests, net of taxes - 3,385 3,385 Net income/(loss) $ (48,907 ) $ - $ (48,907 )
Schedule of Variable Interest Entities [Table Text Block]	December 31, 2023 December 31, 2022 Cash and cash equivalents $ 302 $ 500 Investments in equity securities 9,695 8,396 Receivable from brokers 166 304 Accrued expenses and other liabilities (1) (46 ) (33 ) Redeemable noncontrolling interests (451 ) (428 ) AC Group's net interests in consolidated VIEs $ 9,666 $ 8,739

Note 6 - Fair Value (Tables)

Note 6 - Fair Value (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	December 31, 2023 Assets Level 1 Level 2 Level 3 Total Cash equivalents $ 315,017 $ - $ - $ 315,017 Investments in securities (including GAMCO stock): Trading - U.S. Treasury Bills 89,155 - - 89,155 Common stocks 187,963 1,348 2,035 191,346 Mutual funds 1,186 - - 1,186 Other 3,347 485 219 4,051 Total investments in securities 281,651 1,833 2,254 285,738 Investments in affiliated registered investment companies: Closed-end funds - equity securities 44,692 - - 44,692 Preferred securities issued by Closed-end funds (a) - - 8,356 8,356 Mutual funds 73,703 - - 73,703 Total investments in affiliated registered investment companies 118,395 - 8,356 126,751 Total investments held at fair value 400,046 1,833 10,610 412,489 Total assets at fair value $ 715,063 $ 1,833 $ 10,610 $ 727,506 Liabilities Common stocks $ 5,035 $ - $ - $ 5,035 Other 579 304 - 883 Securities sold, not yet purchased 5,614 304 - 5,918 Total liabilities at fair value $ 5,614 $ 304 $ - $ 5,918 December 31, 2022 Assets Level 1 Level 2 Level 3 Total Cash equivalents $ 216,313 $ - $ - $ 216,313 Investments in securities (including GAMCO stock): Trading - U.S. Treasury Bills 186,001 - - 186,001 Common stocks 185,952 1,990 2,035 189,977 Mutual funds 906 - - 906 Other 4,132 317 253 4,702 Total investments in securities 376,991 2,307 2,288 381,586 Investments in affiliated registered investment companies: Closed-end funds 45,286 - 11,486 56,772 Mutual funds 69,438 - - 69,438 Total investments in affiliated registered investment companies 114,724 - 11,486 126,210 Total investments held at fair value 491,715 2,307 13,774 507,796 Total assets at fair value $ 708,028 $ 2,307 $ 13,774 $ 724,109 Liabilities Common stocks $ 2,509 $ - $ - $ 2,509 Other 132 233 - 365 Securities sold, not yet purchased 2,641 233 - 2,874 Total liabilities at fair value $ 2,641 $ 233 $ - $ 2,874
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Year Ended December 31, 2023 Year Ended December 31, 2022 Assets: Total Total Beginning balance $ 13,774 $ 10,600 Total gains/(losses) (34 ) 27 Purchases 1,000 5,900 Sales/return of capital (4,130 ) (2,753 ) Ending balance $ 10,610 $ 13,774 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 $ (34 ) $ 27

Note 7 - Income Taxes (Tables)

Note 7 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2023 2022 Federal: Current $ 9,528 $ (348 ) Deferred 1,566 (13,237 ) State and local: Current 471 (463 ) Deferred (57 ) (925 ) Foreign: Current 52 41 Deferred (2,423 ) (11 ) Total $ 9,137 $ (14,943 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2023 2022 Statutory Federal income tax rate 21.0 % 21.0 % State income tax, net of Federal benefit 0.8 1.7 Dividends received deduction (0.9 ) 0.6 Deferred tax asset valuation allowance - (1.0 ) Foreign investments (6.2 ) - Foreign tax rate differential 2.1 - Foreign-derived intangible income 0.1 0.9 Noncontrolling interests 1.6 0.6 Nondeductible compensation 2.1 (0.1 ) Other (1.1 ) 1.0 Effective income tax rate 19.5 % 24.7 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2023 2022 Deferred tax assets: Stock-based compensation expense $ 794 $ 1,073 Deferred compensation 409 542 Investments in securities and partnerships 5,085 4,660 Shareholder-designated contribution carryover 1,842 1,902 Federal & State net operating loss carryforward 951 11 Other 64 45 9,145 8,233 Deferred tax liabilities: Other liabilities (227 ) (221 ) (227 ) (221 ) Gross deferred tax assets/(liabilities) 8,918 8,012 Valuation allowance (350 ) (336 ) Net deferred tax assets/(liabilities) $ 8,568 $ 7,676

Note 8 - Earnings Per Share (Ta

Note 8 - Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year Ended December 31, (In thousands, except per share amounts) 2023 2022 Income/(loss) before noncontrolling interests $ 37,728 $ (45,522 ) Less: Income attributable to noncontrolling interests 277 3,385 Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders $ 37,451 $ (48,907 ) Weighted average number of shares of Common Stock outstanding - basic 21,771 22,024 Weighted average number of shares of Common Stock outstanding - diluted 21,771 22,024 Basic and Diluted EPS $ 1.72 $ (2.22 )

Note 10 - Equity (Tables)

Note 10 - Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Share-Based Payment Arrangement, Cost by Plan [Table Text Block]	Year Ended December 31, 2023 2022 Stock-based compensation expense $ 1,434 $ 1,811 Remaining expense to be recognized, if all vesting conditions are met (1) 4,956 4,142 Weighted average remaining contractual term (in years) 2.1 1.8
Share-Based Payment Arrangement, Activity [Table Text Block]	PRSA's Weighted Average Grant Date Fair Value Balance at December 31, 2022 210,910 $ 36.17 Granted - - Forfeited - - Vested - - Balance at March 31, 2023 210,910 $ 36.17 Granted 97,000 39.61 Forfeited - - Vested - - Balance at June 30, 2023 307,910 $ 37.25 Granted - - Forfeited - - Vested (56,560 ) 37.40 Balance at September 30, 2023 251,350 $ 37.22 Granted - - Forfeited - - Vested (17,655 ) 35.12 Balance at December 31, 2023 233,695 $ 37.38
Class of Treasury Stock [Table Text Block]	Number of shares purchased Average price per share Remaining repurchase authorization January 1, 2022 677,144 Share repurchases under stock repurchase program (1) (67,792 ) $ 37.98 Remaining repurchase authorization December 31, 2022 609,352 Share repurchases under stock repurchase program (1) (452,688 ) $ 36.06 Remaining repurchase authorization December 31, 2023 156,664

Note 1 - Organization (Details

Note 1 - Organization (Details Textual) - USD ($) $ in Millions	Nov. 30, 2015	Dec. 31, 2023	Dec. 31, 2022	Aug. 31, 2022
Ownership Percentage of Voting Rights		96%
Number of Shares Purchased in Spin-off (in shares)	4,393,055
Payments to Acquire Marketable Securities	$ 150
Number of Shares Held (in shares)		2,386,295	2,407,000
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]
Ownership Percentage of Voting Rights				100%

Note 2 - Significant Accounti_3

Note 2 - Significant Accounting Policies (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Management Fee, Expense Percentage	10%
Goodwill, Impairment Loss	$ 0	$ 0
Number of Operating Segments	1
Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	4 years
Minimum [Member] | Asset Management [Member]
Revenue From Contract With Customer, Excluding Assessed Tax, Asset Based Advisory Fees, Percentage of Net Assets	1%
Minimum [Member] | Performance Based Advisory Fees [Member]
Percentage of Investment Performance Calculated for Additional Fees	15%
Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	39 years
Maximum [Member] | Asset Management [Member]
Revenue From Contract With Customer, Excluding Assessed Tax, Asset Based Advisory Fees, Percentage of Net Assets	1.50%
Maximum [Member] | Performance Based Advisory Fees [Member]
Percentage of Investment Performance Calculated for Additional Fees	20%

Note 2 - Significant Accounti_4

Note 2 - Significant Accounting Policies - Fixed Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Buildings	$ 17,965	$ 17,955
Less: accumulated depreciation	(1,462)	(1,102)
Net book value	16,503	16,853
Building [Member]
Buildings	17,748	17,748
Equipment [Member]
Buildings	$ 217	$ 207

Note 3 - Revenue - Disaggregati

Note 3 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Total revenues	$ 12,683	$ 15,228
Asset Based Advisory Fees [Member]
Total revenues	5,120	5,178
Performance Based Advisory Fees [Member]
Total revenues	3,462	2,544
Sub Advisory Fees [Member]
Total revenues	3,742	7,079
Investment Advice [Member]
Total revenues	12,324	14,801
Other Miscellaneous Revenues [Member]
Total revenues	$ 359	$ 427

Note 4 - Investments in Secur_3

Note 4 - Investments in Securities (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Puttable Subordinated Note [Member]
Debt Instrument, Term (Year)	2 years
Put Option [Member]
Proceeds from Collection of Advance to Affiliate		$ 5.1

Note 4 - Investments in Secur_4

Note 4 - Investments in Securities - Investments in Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investments in U.S. Treasury Bills with maturities greater than 3 months	$ 89,155	$ 186,001
Equity Securities	204,001	228,697
Investments in equity securities	196,583	195,585
Total investments in securities	292,301	413,333
Total investments in securities, fair value	285,738	381,586
Investment, Affiliated Issuer [Member]
Investment in registered investment companies, cost	89,816	95,253
Investments in affiliated registered investment companies, fair value	126,751	126,210
Closed End Funds [Member] | Investment, Affiliated Issuer [Member]
Investment in registered investment companies, cost	39,680	45,029
Investments in affiliated registered investment companies, fair value	53,048	56,772
US Treasury Bill Securities [Member]
U.S. Treasury Bills	88,300	184,636
Investments in U.S. Treasury Bills with maturities greater than 3 months	89,155	186,001
Mutual Fund [Member]
Equity Securities	566	539
Investments in equity securities	1,186	906
Mutual Fund [Member] | Investment, Affiliated Issuer [Member]
Investment in registered investment companies, cost	50,136	50,224
Investments in affiliated registered investment companies, fair value	73,703	69,438
Common Stock [Member]
Equity Securities	198,269	221,794
Investments in equity securities	191,346	189,977
Other Investments [Member]
Equity Securities	5,166	6,364
Investments in equity securities	$ 4,051	$ 4,702

Note 4 - Investments in Secur_5

Note 4 - Investments in Securities - Securities Sold, Not Yet Purchased (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Total securities sold, not yet purchased, cost	$ 5,858	$ 3,417
Total securities sold, not yet purchased, fair value	5,918	2,874
Common Stock [Member]
Total securities sold, not yet purchased, cost	5,227	2,918
Total securities sold, not yet purchased, fair value	5,035	2,509
Other Investments [Member]
Total securities sold, not yet purchased, cost	631	499
Total securities sold, not yet purchased, fair value	$ 883	$ 365

Note 5 - Investment Partnersh_3

Note 5 - Investment Partnerships and Other Entities (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	7 Months Ended	12 Months Ended
	Dec. 27, 2022	Aug. 31, 2022	Jul. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures				$ 107,400	$ 114,700
Investments in Unaffiliated Entities				35,600	35,800
Stock value				196,583	195,585
Direct Investment in Partnership and Variable Interest Entity	$ 4,000
Partnership and VIE Investment, Percentage			100%
Assets, Total				943,797	927,690
Liabilities, Total				30,719	27,301
Redeemable Noncontrolling Interest, Equity, Carrying Amount, Total				6,103	10,193
Sponsor [Member]
Direct Investment in Partnership and Variable Interest Entity	$ 1,000
Voting Interest Entities [Member]
Assets, Total				72,400	75,600
Liabilities, Total				1,400	4,400
Redeemable Noncontrolling Interest, Equity, Carrying Amount, Total				5,600	9,800
Net Assets, Ending Balance				65,400	61,400
Accounts Payable, Redeemable Noncontrolling Interests				$ 3,200	$ 29,000
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		500,000
P M V Consumer Acquisition Corp [Member] | Common Class A [Member]
Investment Owned, Balance, Shares (in shares)		1,000,000
Investment Owned, Shares Redeemed (in shares)	1,000,000
Investment Owned, Shares Redeemed, Per Share (in dollars per share)	$ 10.1
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 5 - Investment Partnersh_4

Note 5 - 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		Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Cash and cash equivalents (includes U.S. Treasury Bills with maturities of 3 months or less)		$ 317,487				$ 218,462
Investments in U.S. Treasury Bills		89,155				186,001
Investments in equity securities		196,583				195,585
Investments in affiliated registered investment companies		126,751				126,210
Investments in partnerships		142,974				150,498
Receivable from brokers		30,268				12,072
Investment advisory fees receivable		4,711				3,807
Other assets	[1]	35,868				35,055
Total assets		943,797				927,690
Securities sold, not yet purchased		5,918				2,874
Payable to brokers and other liabilities(1)		24,801				24,427
Redeemable noncontrolling interests		6,103				10,193
Balance at December 31, 2022		906,975	$ 895,736	$ 899,567	$ 906,001	890,196	$ 879,255	$ 885,857	$ 918,188	$ 935,346
Total liabilities, redeemable noncontrolling interests and equity		943,797				927,690
Consolidated Entity, Excluding Consolidated Entities [Member]
Cash and cash equivalents (includes U.S. Treasury Bills with maturities of 3 months or less)		299,508				209,941
Investments in U.S. Treasury Bills		79,714				183,528
Investments in equity securities		149,154				129,942
Investments in affiliated registered investment companies		181,641				178,689
Investments in partnerships		163,226				168,286
Receivable from brokers		25,026				4,002
Investment advisory fees receivable		4,714				3,814
Other assets	[1]	33,444				35,045
Total assets		936,427				913,247
Securities sold, not yet purchased		5,639				2,678
Payable to brokers and other liabilities(1)	[1]	23,813				20,373
Redeemable noncontrolling interests		0				0
Balance at December 31, 2022		906,975				890,196
Total liabilities, redeemable noncontrolling interests and equity		936,427				913,247
Consolidated Entities [Member]
Cash and cash equivalents (includes U.S. Treasury Bills with maturities of 3 months or less)		17,979				8,521
Investments in U.S. Treasury Bills		9,441				2,473
Investments in equity securities		47,429				65,643
Investments in affiliated registered investment companies		(54,890)				(52,479)
Investments in partnerships		(20,252)				(17,788)
Receivable from brokers		5,242				8,070
Investment advisory fees receivable		(3)				(7)
Other assets	[1]	2,424				10
Total assets		7,370				14,443
Securities sold, not yet purchased		279				196
Payable to brokers and other liabilities(1)		988				4,054
Redeemable noncontrolling interests		6,103				10,193
Balance at December 31, 2022		0				0
Total liabilities, redeemable noncontrolling interests and equity		$ 7,370				$ 14,443
[1]Represents the summation of multiple captions from the condensed consolidated statements of financial condition.

Note 5 - Investment Partnersh_5

Note 5 - Investment Partnerships and Other Entities - Net Impact of Consolidated Entities on the Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Total revenues	$ 12,683	$ 15,228
Total expenses	29,630	26,490
Operating loss	(16,947)	(11,262)
Total other income/(expense), net	63,812	(49,203)
Income before income taxes	46,865	(60,465)
Income tax expense/(benefit)	9,137	(14,943)
Income/(loss) before noncontrolling interests	37,728	(45,522)
Income attributable to noncontrolling interests	277	3,385
Net income/(loss)	37,451	(48,907)
Consolidated Entity, Excluding Consolidated Entities [Member]
Total revenues	13,125	15,884
Total expenses	28,566	24,538
Operating loss	(15,441)	(8,654)
Total other income/(expense), net	64,452	(55,196)
Income before income taxes	49,011	(63,850)
Income tax expense/(benefit)	11,560	(14,943)
Income/(loss) before noncontrolling interests	37,451	(48,907)
Income attributable to noncontrolling interests	0	0
Net income/(loss)	37,451	(48,907)
Consolidated Entities [Member]
Total revenues	(442)	(656)
Total expenses	1,064	1,952
Operating loss	(1,506)	(2,608)
Total other income/(expense), net	(640)	5,993
Income before income taxes	(2,146)	3,385
Income tax expense/(benefit)	(2,423)	0
Income/(loss) before noncontrolling interests	277	3,385
Income attributable to noncontrolling interests	277	3,385
Net income/(loss)	$ 0	$ 0

Note 5 - Investment Partnersh_6

Note 5 - Investment Partnerships and Other Entities - Balances Related to VIEs (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Cash and cash equivalents		$ 317,487	$ 218,462
Investments in equity securities		196,583	195,585
Receivable from brokers		30,268	12,072
Redeemable noncontrolling interests		(6,103)	(10,193)
Variable Interest Entity, Primary Beneficiary [Member]
Cash and cash equivalents		302	500
Investments in equity securities		9,695	8,396
Receivable from brokers		166	304
Accrued expenses and other liabilities(1)	[1]	(46)	(33)
Redeemable noncontrolling interests		(451)	(428)
AC Group's net interests in consolidated VIEs		$ 9,666	$ 8,739
[1]Represents the summation of multiple captions from the condensed consolidated statements of financial condition.

Note 6 - Fair Value - Assets an

Note 6 - Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investments in U.S. Treasury Bills with maturities greater than 3 months	$ 89,155	$ 186,001
Investments in equity securities	196,583	195,585
Total investments in securities	285,738	381,586
Securities sold, not yet purchased	5,918	2,874
US Treasury Bill Securities [Member]
Investments in U.S. Treasury Bills with maturities greater than 3 months	89,155	186,001
Common Stock [Member]
Investments in equity securities	191,346	189,977
Mutual Fund [Member]
Investments in equity securities	1,186	906
Other Investments [Member]
Investments in equity securities	4,051	4,702
Fair Value, Recurring [Member]
Cash equivalents	315,017	216,313
Total investments in securities	285,738	381,586
Investments in affiliated registered investment companies	126,751	126,210
Investment, fair value	412,489	507,796
Total assets at fair value	727,506	724,109
Securities sold, not yet purchased	5,918	2,874
Total liabilities at fair value	5,918	2,874
Fair Value, Recurring [Member] | US Treasury Bill Securities [Member]
Investments in U.S. Treasury Bills with maturities greater than 3 months	89,155	186,001
Fair Value, Recurring [Member] | Common Stock [Member]
Investments in equity securities	191,346	189,977
Securities sold, not yet purchased	5,035	2,509
Fair Value, Recurring [Member] | Mutual Fund [Member]
Investments in equity securities	1,186	906
Investments in affiliated registered investment companies	73,703	69,438
Fair Value, Recurring [Member] | Other Investments [Member]
Investments in equity securities	4,051	4,702
Securities sold, not yet purchased	883	365
Fair Value, Recurring [Member] | Closed End Funds [Member]
Investments in affiliated registered investment companies	44,692	56,772
Fair Value, Recurring [Member] | Preferred Securities From Closed End Funds [Member]
Investments in affiliated registered investment companies	8,356
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Cash equivalents	315,017	216,313
Total investments in securities	281,651	376,991
Investments in affiliated registered investment companies	118,395	114,724
Investment, fair value	400,046	491,715
Total assets at fair value	715,063	708,028
Securities sold, not yet purchased	5,614	2,641
Total liabilities at fair value	5,614	2,641
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury Bill Securities [Member]
Investments in U.S. Treasury Bills with maturities greater than 3 months	89,155	186,001
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Common Stock [Member]
Investments in equity securities	187,963	185,952
Securities sold, not yet purchased	5,035	2,509
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member]
Investments in equity securities	1,186	906
Investments in affiliated registered investment companies	73,703	69,438
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other Investments [Member]
Investments in equity securities	3,347	4,132
Securities sold, not yet purchased	579	132
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Closed End Funds [Member]
Investments in affiliated registered investment companies	44,692	45,286
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Preferred Securities From Closed End Funds [Member]
Investments in affiliated registered investment companies	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Cash equivalents	0	0
Total investments in securities	1,833	2,307
Investments in affiliated registered investment companies	0	0
Investment, fair value	1,833	2,307
Total assets at fair value	1,833	2,307
Securities sold, not yet purchased	304	233
Total liabilities at fair value	304	233
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury Bill Securities [Member]
Investments in U.S. Treasury Bills with maturities greater than 3 months	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Common Stock [Member]
Investments in equity securities	1,348	1,990
Securities sold, not yet purchased	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mutual Fund [Member]
Investments in equity securities	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	485	317
Securities sold, not yet purchased	304	233
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 2 [Member] | Preferred Securities From Closed End Funds [Member]
Investments in affiliated registered investment companies	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Cash equivalents	0	0
Total investments in securities	2,254	2,288
Investments in affiliated registered investment companies	8,356	11,486
Investment, fair value	10,610	13,774
Total assets at fair value	10,610	13,774
Securities sold, not yet purchased	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 maturities greater than 3 months	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Common Stock [Member]
Investments in equity securities	2,035	2,035
Securities sold, not yet purchased	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mutual Fund [Member]
Investments in equity securities	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	219	253
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	0	$ 11,486
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Preferred Securities From Closed End Funds [Member]
Investments in affiliated registered investment companies	$ 8,356

Note 6 - Fair Value - Additiona

Note 6 - Fair Value - Additional Information About Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Beginning balance	$ 13,774	$ 10,600
Total gains/(losses)	(34)	27
Purchases	1,000	5,900
Sales/return of capital	(4,130)	(2,753)
Ending balance	10,610	13,774
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	$ (34)	$ 27

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets, Valuation Allowance	$ 350	$ 336
Unrecognized Tax Benefits	$ 0	$ 0

Note 7 - Income Taxes - Provisi

Note 7 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Federal:
Current, federal	$ 9,528	$ (348)
Deferred, federal	1,566	(13,237)
State and local:
Current, state	471	(463)
Deferred, state	(57)	(925)
Foreign:
Current, foreign	52	41
Deferred, foreign	(2,423)	(11)
Total	$ 9,137	$ (14,943)

Note 7 - Income Taxes - Reconci

Note 7 - Income Taxes - Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statutory Federal income tax rate	21%	21%
State income tax, net of Federal benefit	0.80%	1.70%
Dividends received deduction	(0.90%)	0.60%
Deferred tax asset valuation allowance	0%	(1.00%)
Foreign investments	(6.20%)	0%
Foreign tax rate differential	2.10%	0%
Intangible income	0.10%	0.90%
Noncontrolling interests	1.60%	0.60%
Nondeductible compensation	2.10%	(0.10%)
Other	(1.10%)	1%
Effective income tax rate	19.50%	24.70%

Note 7 - Income Taxes - Signifi

Note 7 - Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Stock-based compensation expense	$ 794	$ 1,073
Deferred compensation	409	542
Investments in securities and partnerships	5,085	4,660
Shareholder-designated contribution carryover	1,842	1,902
Other	64	45
Deferred Tax Assets, Gross	9,145	8,233
Deferred tax liabilities:
Other liabilities	(227)	(221)
Deferred Tax Liabilities, Gross	(227)	(221)
Gross deferred tax assets/(liabilities)	8,918	8,012
Valuation allowance	(350)	(336)
Net deferred tax assets	8,568	7,676
Domestic and State Jurisdiction [Member]
Deferred tax assets:
Federal & State net operating loss carryforward	$ 951	$ 11

Note 8 - Earnings Per Share - C

Note 8 - Earnings Per Share - Computations of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income/(loss) before noncontrolling interests	$ 37,728	$ (45,522)
Less: Income attributable to noncontrolling interests	277	3,385
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	$ 37,451	$ (48,907)
Weighted average number of shares of Common Stock outstanding - basic (in shares)	21,771	22,024
Weighted average number of shares of Common Stock outstanding - diluted (in shares)	21,771	22,024
Basic and Diluted EPS (in dollars per share)	$ 1.72	$ (2.22)

Note 9 - Related Party Transa_2

Note 9 - Related Party Transactions (Details Textual) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended	11 Months Ended	12 Months Ended
	Dec. 31, 2023	Nov. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Ownership Percentage of Voting Rights	96%		96%
Investment Income, Interest and Dividend, Total			$ 25,258,000	$ 10,653,000
Gain (Loss) on Investments, Total			43,033,000	(56,513,000)
Revenue from Contract with Customer, Excluding Assessed Tax			12,683,000	15,228,000
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$ 107,400,000		$ 107,400,000	114,700,000
Management Fee, Expense Percentage	10%		10%
Management Fee Expense			$ 5,446,000	0
Notice Period for Termination of Agreement (Day)			30 days
Labor and Related Expense			$ 17,246,000	18,883,000
Other Operating Income (Expense), Net			(6,938,000)	(7,607,000)
St James Place London U K [Member]
Operating Lease, Lease Income, Total			$ 227,100	$ 309,800
Gabelli Merger Plus+ Trust Plc. [Member]
Subsidiary, Ownership Percentage, Parent	92%		92%	87%
Gabelli Company Investment Advisers Inc [Member]
Business Combination, Percentage of Revenue Transferred	100%	90%
Management and Service Fees, Basis Points			0.85%
Gabelli Company Investment Advisers Inc [Member] | Sub Advisory Fees [Member]
Related Party Transaction, Amounts of Transaction			$ 3,700,000	$ 7,100,000
Gabelli Company Investment Advisers Inc [Member] | Portfolio Management and Other Services [Member
Management and Service Fees, Basis Points			0.65%
Board of Directors Chairman [Member]
Management Fee, Expense Percentage	10%		10%
Management Fee Expense			$ 5,400,000	0
GAMCO Investors, Inc [Member]
Percentage, of Increase (Decrease) in Stock Price			25.40%
Share Price (in dollars per share)	$ 19.11		$ 19.11
Gain (Loss) on Investments, Total			$ 9,300,000	(23,500,000)
Operating Lease, Expense			74,000	72,100
Labor and Related Expense			3,000,000	2,700,000
Other Operating Income (Expense), Net			1,100,000	1,400,000
GAMCO Investors, Inc [Member] | Mason Street Greenwich C T [Member]
Operating Lease, Lease Income, Total			133,800	116,400
Gabelli Company Investment Advisers Inc [Member] | Money Market Funds [Member]
Investments, Total	$ 298,600,000		298,600,000	209,300,000
Investment Income, Interest			17,000,000	400,000
Gabelli Company Investment Advisers Inc [Member] | Mutual Fund [Member]
Investments, Total	126,800,000		126,800,000	126,200,000
Investment Income, Interest and Dividend, Total			8,900,000	10,200,000
Common Stock [Member] | GAMCO Investors, Inc [Member]
Investments, Total	$ 45,600,000		$ 45,600,000	36,700,000
Investment Owned, Balance, Shares (in shares)	2.4		2.4
Investment Income, Interest and Dividend, Total			$ 400,000	500,000
Investment Advice [Member]
Revenue from Contract with Customer, Excluding Assessed Tax			$ 8,600,000	$ 7,700,000

Note 10 - Equity (Details Textu

Note 10 - Equity (Details Textual) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023 USD ($) shares	Sep. 30, 2023 USD ($) shares	Jun. 30, 2023 USD ($) shares	Mar. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) $ / shares shares	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($) $ / shares	Mar. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Feb. 06, 2024 shares	Dec. 31, 2021 shares	May 08, 2018 shares	Aug. 03, 2017 shares	Feb. 07, 2017 shares	Dec. 31, 2015 shares
Number of Stock Award and Incentive Plans									1
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)	0				0				0	0
Employee-related Liabilities, Total | $	$ 15,169				$ 13,936				$ 15,169	$ 13,936
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares)													500,000	1,000,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares)	156,664				609,352				156,664	609,352		677,144			500,000
Treasury Stock, Value, Acquired, Cost Method | $	$ 2,945	$ 3,815	$ 7,617	$ 1,949	$ 524	$ 441	$ 1,317	$ 293	$ 16,300	$ 2,600
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares					$ 0.1		$ 0.1
Dividends, Total | $	$ 2,158		$ 2,188		$ 2,199		$ 2,203		$ 4,300	$ 4,400
Subsequent Event [Member]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares)											350,000
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period (in shares)									900,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)	1,100,000								1,100,000
Phantom Restricted Stock Award [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)	233,695	251,350	307,910	210,910	210,910				233,695	210,910
Employee-related Liabilities, Total | $	$ 3,500				$ 4,800				$ 3,500	$ 4,800
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)									10 years
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares)																500,000
Common Class A [Member]
Number of Votes Per Share									1
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares									$ 0.2	$ 0.2
Common Class A [Member] | Maximum [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	2,000,000								2,000,000
Common Class B [Member]
Number of Votes Per Share									10

Note 10 - Equity - Summary of S

Note 10 - Equity - Summary of Stock-based Compensation and Unrecognized Compensation (Details) - Phantom Restricted Stock Award [Member] - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Stock-based compensation expense		$ 1,434	$ 1,811
Remaining expense to be recognized, if all vesting conditions are met(1)	[1]	$ 4,956	$ 4,142
Weighted average remaining contractual term (in years) (Year)		2 years 1 month 6 days	1 year 9 months 18 days
[1]Does not include an estimate for projected future dividends.

Note 10 - Equity - Phantom RSA

Note 10 - Equity - Phantom RSA Activity (Details) - $ / shares	3 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Balance, shares (in shares)				0
Balance, shares (in shares)	0
Phantom Restricted Stock Award [Member]
Balance, shares (in shares)	251,350	307,910	210,910	210,910
Balance, weighted average grant date fair value (in dollars per share)	$ 37.22	$ 37.25	$ 36.17	$ 36.17
Granted, shares (in shares)	0	0	97,000	0
Granted, weighted average grant date fair value (in dollars per share)	$ 0	$ 0	$ 39.61	$ 0
Forfeited, shares (in shares)	0	0	0	0
Forfeited, weighted average grant date fair value (in dollars per share)	$ 0	$ 0	$ 0	$ 0
Vested, shares (in shares)	(17,655)	(56,560)	0	0
Vested, weighted average grant date fair value (in dollars per share)	$ 35.12	$ 37.4	$ 0	$ 0
Balance, shares (in shares)	233,695	251,350	307,910	210,910
Balance, weighted average grant date fair value (in dollars per share)	$ 37.38	$ 37.22	$ 37.25	$ 36.17

Note 10 - Equity - Stock Repurc

Note 10 - Equity - Stock Repurchase Activity (Details) - $ / shares		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Remaining repurchase authorization (in shares)		609,352	677,144
Share repurchases under stock repurchase program (1) (in shares)	[1]	(452,688)	(67,792)
Share repurchases under stock repurchase program (1) (in dollars per share)	[1]	$ 36.06	$ 37.98
Remaining repurchase authorization (in shares)		156,664	609,352
[1]Repurchases totaled $16.3 million and $2.6 million in 2023 and 2022, respectively,

Note 11 - Retirement Plan (Deta

Note 11 - Retirement Plan (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 8	$ 8

Note 13 - Shareholder Designa_2

Note 13 - Shareholder Designated Contribution Plan (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Shareholder-designated contribution	$ 4,017	$ 3,127
Liability for Shareholder Designated Contribution Program	$ 2,800	$ 1,000

Note 14 - Subsequent Events (De

Note 14 - Subsequent Events (Details Textual) - $ / shares		3 Months Ended	12 Months Ended
		Mar. 21, 2024	Dec. 31, 2023	Dec. 31, 2022
Treasury Stock, Shares, Acquired (in shares)	[1]		452,688	67,792
Shares Acquired, Average Cost Per Share (in dollars per share)	[1]		$ 36.06	$ 37.98
Subsequent Event [Member]
Treasury Stock, Shares, Acquired (in shares)		64,252
Shares Acquired, Average Cost Per Share (in dollars per share)		$ 33.98
[1]Repurchases totaled $16.3 million and $2.6 million in 2023 and 2022, respectively,