Associated Capital (AC) 10-Q 9 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 01, 2024
Document Information [Line Items]
Entity Central Index Key	0001642122
Entity Registrant Name	Associated Capital Group, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		18,950,571
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,319,994

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Cash and cash equivalents	$ 341,317	$ 317,487
Trading - U.S. Treasury Bills	46,060	89,155
Investments in equity securities (includes GAMCO stock with a fair value of $57.3 million and $45.6 million, respectively)	230,123	196,583
Investments in affiliated registered investment companies	128,924	126,751
Investments in partnerships	140,593	142,974
Receivable from brokers	29,298	16,005
Receivable from brokers (cash held for real estate purchase)	0	14,263
Investment advisory fees receivable	1,228	4,711
Income taxes receivable, including deferred tax assets, net	8,370	8,474
Goodwill	3,519	3,519
Other assets	19,329	22,999
Total assets	949,016	943,797
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Payable to brokers	6,642	4,459
Compensation payable	12,448	15,169
Securities sold, not yet purchased	6,392	5,918
Accrued expenses and other liabilities	2,367	5,173
Total liabilities	27,849	30,719
Redeemable noncontrolling interests	5,688	6,103
Commitments and contingencies (Note 10)
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	62,899	48,231
Treasury stock, at cost (4,237,388 and 4,054,565 shares, respectively)	(146,492)	(140,328)
Total equity	915,479	906,975
Total liabilities, redeemable noncontrolling interests and equity	949,016	943,797
Common Class A [Member]
Equity:
Common Stock	6	6
Common Class B [Member]
Equity:
Common Stock	19	19
Affiliated Entity [Member]
Receivable from affiliates	255	876
Investment, Affiliated Issuer [Member]
Investments in affiliated registered investment companies	$ 128,924	$ 126,751

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Stock value	$ 230,123	$ 196,583
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)	21,355
Treasury stock shares (in shares)	4,237,388	4,054,565
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	6,641,601
Common stock, shares outstanding (in shares)	2,404,213	2,587,036
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	18,950,571
GAMCO Investors, Inc [Member]
Stock value	$ 57,300	$ 45,600

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues
Total revenues	$ 2,595	$ 2,382	$ 5,606	$ 4,847
Expenses
Compensation	3,942	3,789	7,762	7,359
Management fee	442	544	2,424	3,087
Other operating expenses	1,885	1,520	4,064	3,005
Total expenses	6,269	5,853	14,250	13,451
Operating loss	(3,674)	(3,471)	(8,644)	(8,604)
Other income
Net gain/(loss) from investments	(159)	3,297	16,635	23,808
Interest and dividend income	7,860	5,968	13,843	11,161
Interest expense	(69)	(156)	(152)	(254)
Shareholder-designated contribution	(380)	(498)	(449)	(1,369)
Total other income, net	7,252	8,611	29,877	33,346
Income before income taxes	3,578	5,140	21,233	24,742
Income tax expense	684	1,840	4,482	3,420
Income before noncontrolling interests	2,894	3,300	16,751	21,322
Income/(loss) attributable to noncontrolling interests	(91)	(71)	(55)	197
Net income attributable to Associated Capital Group, Inc.'s shareholders	$ 2,985	$ 3,371	$ 16,806	$ 21,125
Net income per share attributable to Associated Capital Group, Inc.'s shareholders:
Basic (in dollars per share)	$ 0.14	$ 0.15	$ 0.78	$ 0.96
Diluted (in dollars per share)	$ 0.14	$ 0.15	$ 0.78	$ 0.96
Weighted average shares outstanding (in thousands):
Basic (in shares)	21,392	21,870	21,446	21,920
Diluted (in shares)	21,392	21,870	21,446	21,920
Actual shares outstanding (in thousands) (in shares)	21,355	21,726	21,355	21,726
Investment Advice [Member]
Revenues
Total revenues	$ 2,489	$ 2,280	$ 5,396	$ 4,691
Financial Service, Other [Member]
Revenues
Total revenues	$ 106	$ 102	$ 210	$ 156

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net income before noncontrolling interests	$ 2,894	$ 3,300	$ 16,751	$ 21,322
Less: Comprehensive income/(loss) attributable to noncontrolling interests	(91)	(71)	(55)	197
Comprehensive income attributable to Associated Capital Group, Inc.	$ 2,985	$ 3,371	$ 16,806	$ 21,125

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity and Redeemable Noncontrolling Interests (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [Member]	Redeemable Noncontrolling Interests [Member]	Total
Balance at Dec. 31, 2022	$ 25	$ 15,126	$ 999,047	$ (124,002)	$ 10,193	$ 890,196
Net income/(loss)	0	21,125	0	0	197	21,125
Dividends declared ($0.10 per share)	0	(2,188)	0	0	0	(2,188)
Purchases of treasury stock	0	0	0	(9,566)	0	(9,566)
Redemptions of noncontrolling interests	0	0	0	0	(3,304)	0
Balance at Jun. 30, 2023	25	34,063	999,047	(133,568)	7,086	899,567
Balance at Mar. 31, 2023	25	32,880	999,047	(125,951)	7,233	906,001
Net income/(loss)	0	3,371	0	0	(71)	3,371
Dividends declared ($0.10 per share)	0	(2,188)	0	0	0	(2,188)
Purchases of treasury stock	0	0	0	(7,617)	0	(7,617)
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 Dec. 31, 2023	25	48,231	999,047	(140,328)	6,103	906,975
Net income/(loss)	0	16,806	0	0	(55)	16,806
Dividends declared ($0.10 per share)	0	(2,138)	0	0	0	(2,138)
Purchases of treasury stock	0	0	0	(6,164)	0	(6,164)
Redemptions of noncontrolling interests	0	0	0	0	(360)	0
Balance at Jun. 30, 2024	25	62,899	999,047	(146,492)	5,688	915,479
Balance at Mar. 31, 2024	25	62,052	999,047	(144,274)	5,779	916,850
Net income/(loss)	0	2,985	0	0	(91)	2,985
Dividends declared ($0.10 per share)	0	(2,138)	0	0	0	(2,138)
Purchases of treasury stock	0	0	0	(2,218)	0	(2,218)
Balance at Jun. 30, 2024	$ 25	$ 62,899	$ 999,047	$ (146,492)	$ 5,688	$ 915,479

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Equity and Redeemable Noncontrolling Interests (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Dividends declared, per share (in dollars per share)	$ 0.1	$ 0.1	$ 0.1	$ 0.1

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating activities
Net income	$ 16,751	$ 21,322
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in net (gains)/losses from partnerships	(1,801)	(1,493)
Depreciation and amortization	181	180
Deferred income taxes	2,258	772
Donated securities	1,346	966
Unrealized (gains)/losses on securities	(13,030)	(18,022)
Realized gains on sales of securities	(2,790)	(1,757)
(Increase)/decrease in assets:
Investments in trading securities	22,971	183,400
Investments in partnerships:
Contributions to partnerships	(5,619)	(2,390)
Distributions from partnerships	9,800	5,300
Receivable from affiliates	621	2,246
Receivable from brokers	(3,539)	(14,599)
Investment advisory fees receivable	3,483	2,517
Income taxes receivable	(2,154)	2,038
Other assets	3,489	417
Increase/(decrease) in liabilities:
Payable to brokers	2,183	2,133
Compensation payable	(2,721)	(2,931)
Accrued expenses and other liabilities	(2,806)	(696)
Total adjustments	11,872	158,081
Net cash provided by operating activities	28,623	179,403
Investing activities
Purchases of securities	(5,030)	(1,110)
Proceeds from sales of securities	3,510	777
Return of capital on securities	880	1,009
Net provided by/(used in) investing activities	(640)	676
Financing activities
Dividends paid	(2,138)	(2,188)
Purchases of treasury stock	(6,164)	(9,566)
Redemptions of redeemable noncontrolling interests	(360)	(3,304)
Net cash used in financing activities	(8,662)	(15,058)
Net increase in cash, cash equivalents and restricted cash	19,321	165,021
Cash, cash equivalents and restricted cash at beginning of period	347,057	221,269
Cash, cash equivalents and restricted cash at end of period	366,378	386,290
Supplemental disclosures of cash flow information:
Cash paid for interest	152	156
Cash paid for taxes	4,364	591
Reconciliation of Cash, cash equivalents and restricted cash at end of period:
Cash and cash equivalents	341,317	381,387
Restricted cash included in receivable from brokers	9,950	4,903
Cash, cash equivalents and restricted cash	366,378	$ 386,290
Receivables from Brokers [Member]
Reconciliation of Cash, cash equivalents and restricted cash at end of period:
Cash and cash equivalents	$ 15,111

Note 1 - Organization

Note 1 - Organization	6 Months Ended
	Jun. 30, 2024
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.”, "Associated Capital", “AC Group”, “the Company”, “AC”, “we”, “us” and “our” or similar terms are to Associated Capital Group, Inc., its predecessors and its subsidiaries. We are a Delaware corporation that provides alternative investment management, and we derive investment income from proprietary investments of cash and other assets in our operating business. Gabelli & Company Investment Advisors, Inc. (“GCIA”), a wholly-owned subsidiary of AC, and its wholly-owned subsidiary, Gabelli & Partners, LLC (“Gabelli & Partners”), collectively serve as general partners or investment managers to investment funds, including limited partnerships and offshore companies (collectively, “Investment Partnerships”) and separate accounts. We primarily manage assets across a range of risk and event arbitrage portfolios and in equity event-driven value strategies. The businesses earn management and incentive fees from their advisory activities. Management fees are largely based on a percentage of assets under management. Incentive fees are based on the percentage of the investment returns of certain clients’ portfolios. GCIA is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940, Basis of Presentation The unaudited interim condensed consolidated financial statements of AC Group included herein have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10 10 01 X. not not 10 December 31, 2023. The interim condensed consolidated financial statements include the accounts of AC Group and its subsidiaries. All intercompany transactions and balances have been eliminated. The details on the impact of consolidating certain partnership entities on the condensed consolidated financial statements can be seen in Note 4. For the three six June 30, 2024 2023, no Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported on the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Recent Accounting Developments In December 2023, 2023 09, Income Taxes (Topic 740 Improvements to Income Tax Disclosures December 15, 2024, In November 2023, 2023 07, Segment Reporting (Topic 280 December 15, 2023 December 15, 2024,

Note 2 - Revenue

Note 2 - Revenue	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2. The Company’s major revenue sources are as follows for the three six June 30, 2024 2023 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Investment advisory and incentive fees Asset-based advisory fees $ 1,217 $ 1,291 $ 2,444 $ 2,606 Performance-based advisory fees 1 - 1 1 Sub-advisory fees 1,271 989 2,951 2,084 Total investment advisory and incentive fees 2,489 2,280 5,396 4,691 Other 106 102 210 156 Total revenues $ 2,595 $ 2,382 $ 5,606 $ 4,847

Note 3 - Investments in Securit

Note 3 - Investments in Securities	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	3. Investments in securities at June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Cost Fair Value Cost Fair Value Debt - Trading Securities: U.S. Treasury Bills $ 45,133 $ 46,060 $ 88,300 $ 89,155 Equity Securities: Common stocks 219,878 225,108 198,269 191,346 Mutual funds 651 1,384 566 1,186 Other investments 4,609 3,631 5,166 4,051 Total investments in equity securities 225,138 230,123 204,001 196,583 Total investments in securities $ 270,271 $ 276,183 $ 292,301 $ 285,738 Securities sold, not June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Cost Fair Value Cost Fair Value Common stocks $ 5,782 $ 5,998 $ 5,227 $ 5,035 Other investments 105 394 631 883 Total securities sold, not yet purchased $ 5,887 $ 6,392 $ 5,858 $ 5,918 Investments in affiliated registered investment companies at June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Cost Fair Value Cost Fair Value Closed-end funds $ 40,270 $ 55,021 $ 39,680 $ 53,048 Mutual funds 50,783 73,903 50,136 73,703 Total investments in affiliated registered investment companies $ 91,053 $ 128,924 $ 89,816 $ 126,751

Note 4 - Investment Partnership

Note 4 - Investment Partnerships and Other Entities	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Investment Holdings [Text Block]	4. The Company is a 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 $102.0 million and $107.4 million at June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 none Investments in partnerships that are not Capital may may may No no Consolidated Entities The following table reflects the net impact of the consolidated investment partnerships (“Consolidated Entities”) on the condensed consolidated statements of financial condition (in thousands): June 30, 2024 Prior to Consolidated Assets Consolidation Entities As Reported Cash and cash equivalents $ 337,777 $ 3,540 $ 341,317 Investments in U.S. Treasury Bills 39,863 6,197 46,060 Investments in equity securities 172,456 57,667 230,123 Investments in affiliated registered investment companies 182,362 (53,438 ) 128,924 Investments in partnerships 160,488 (19,895 ) 140,593 Receivable from brokers 19,010 10,288 29,298 Investment advisory fees receivable 1,234 (6 ) 1,228 Other assets (1) 28,499 2,974 31,473 Total assets $ 941,689 $ 7,327 $ 949,016 Liabilities, redeemable noncontrolling interests and equity Securities sold, not yet purchased $ 6,043 $ 349 $ 6,392 Payable to brokers and other liabilities (1) 20,167 1,290 21,457 Redeemable noncontrolling interests - 5,688 5,688 Total equity 915,479 - 915,479 Total liabilities, redeemable noncontrolling interests and equity $ 941,689 $ 7,327 $ 949,016 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 ( 1 The following table reflects the net impact of the consolidated entities on the condensed consolidated statements of income (in thousands): Three Months Ended June 30, 2024 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 2,703 $ (108 ) $ 2,595 Operating loss (3,270 ) (404 ) (3,674 ) Total other income, net 7,250 2 7,252 Income/(loss) before noncontrolling interests 2,985 (91 ) 2,894 Income/(loss) attributable to noncontrolling interests, net of taxes - (91 ) (91 ) Net income $ 2,985 $ - $ 2,985 Three Months Ended June 30, 2023 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 2,489 $ (107 ) $ 2,382 Operating loss (3,107 ) (364 ) (3,471 ) Total other income, net 8,003 608 8,611 Income/(loss) before noncontrolling interests 3,371 (71 ) 3,300 Income/(loss) attributable to noncontrolling interests, net of taxes - (71 ) (71 ) Net income $ 3,371 $ - $ 3,371 Six Months Ended June 30, 2024 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 5,823 $ (217 ) $ 5,606 Operating loss (7,877 ) (767 ) (8,644 ) Total other income, net 29,697 180 29,877 Income/(loss) before noncontrolling interests 16,806 (55 ) 16,751 Income/(loss) attributable to noncontrolling interests, net of taxes - (55 ) (55 ) Net income $ 16,806 $ - $ 16,806 Six Months Ended June 30, 2023 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 5,067 $ (220 ) $ 4,847 Operating loss (7,843 ) (761 ) (8,604 ) Total other income/(loss), net 35,625 (2,279 ) 33,346 Income/(loss) before noncontrolling interests 21,125 197 21,322 Income/(loss) attributable to noncontrolling interests, net of taxes - 197 197 Net income $ 21,125 $ - $ 21,125 Variable Interest Entity We have one June 30, 2024 December 31, 2023 may no The following table presents the balances related to the VIE that is consolidated and included on the condensed consolidated statements of financial condition as well as the Company’s net interest in that VIE (in thousands): June 30, 2024 December 31, 2023 Cash and cash equivalents $ 294 $ 302 Investments in equity securities 9,544 9,695 Receivable from brokers 234 166 Accrued expenses and other liabilities (23 ) (46 ) Redeemable noncontrolling interests (451 ) (451 ) AC Group's net interests in consolidated VIEs $ 9,598 $ 9,666 Voting Interest Entity We have one June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Equity Method Investments The Company’s equity method investments include investments in partnerships and offshore funds. The Company evaluates each of its equity method investments to determine if any are significant as defined in the regulations applicable to smaller reporting companies promulgated by the SEC. As of and for the three six June 30, 2024 no not

Note 5 - Fair Value

Note 5 - Fair Value	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	5. Accounting Standards Codification Topic 820, 820 three • Level 1 • Level 2 not • Level 3 Inputs used to measure fair value might fall in different levels of the fair value hierarchy, in which case the Company defaults to the lowest level input that is significant to the fair value measurement in its entirety. These levels are not The following tables present assets and liabilities measured at fair value on a recurring basis, unless otherwise noted, as of the dates specified (in thousands): June 30, 2024 Assets Level 1 Level 2 Level 3 Total Cash equivalents $ 339,920 $ - $ - $ 339,920 Investments in securities (including GAMCO stock): Trading - U.S. Treasury Bills 46,060 - - 46,060 Common stocks 221,813 1,260 2,035 225,108 Mutual funds 1,384 - - 1,384 Other 2,778 727 126 3,631 Total investments in securities 272,035 1,987 2,161 276,183 Investments in affiliated registered investment companies: Closed-end funds - equity securities 45,165 - - 45,165 Preferred securities issued by Closed-end funds (a) - - 9,856 9,856 Mutual funds 73,903 - - 73,903 Total investments in affiliated registered investment companies 119,068 - 9,856 128,924 Total investments held at fair value 391,103 1,987 12,017 405,107 Total assets at fair value $ 731,023 $ 1,987 $ 12,017 $ 745,027 Liabilities Common stocks $ 5,998 $ - $ - $ 5,998 Other 36 358 - 394 Securities sold, not yet purchased 6,034 358 - 6,392 Total liabilities at fair value $ 6,034 $ 358 $ - $ 6,392 (a) These securities represent privately issued, puttable and callable preferred securities issued by affiliated closed-end funds. 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. The following table presents additional information about assets measured at fair value on a recurring basis and for which the Company has utilized Level 3 Three Months Ended Six Months Ended June 30, June 30, Assets: 2024 2023 2024 2023 Beginning balance $ 12,110 $ 14,741 $ 10,610 $ 13,774 Total gains/(losses) 100 - 100 (33 ) Purchases - - 3,900 1,000 Sales/return of capital (193 ) (250 ) (2,593 ) (250 ) Ending balance $ 12,017 $ 14,491 $ 12,017 $ 14,491 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 $ 100 $ - $ 100 $ (33 ) Total realized and unrealized gains and losses for Level 3 During the three six June 30, 2024 2023 no 3. The Company uses a discounted cash flow analysis when determining the fair value of privately issued preferred securities of affiliated closed-end funds that are categorized as Level 3. The significant unobservable input used in the fair value measurement of each of the Company’s investments in privately issued preferred securities of closed-end funds is the discount rate. The discount rate was determined using the interest rates of U.S. Treasury Bills that are held over a similar period as the preferred security. The discount rates used in the valuation of these investments as of June 30, 2024 3 The Company uses the market approach as the valuation technique to value its investment in common stocks classified as Level 3,

Note 6 - Income Taxes

Note 6 - Income Taxes	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	6. The effective tax rate (“ETR”) for the six June 30, 2024 June 30, 2023 2024 2023 six June 30, 2024 At June 30, 2024 not not June 30, 2024 December 31, 2023, As of and for the six June 30, 2024 December 31, 2023 not The Company remains subject to income tax examination by the IRS for the years 2020 2022 2017.

Note 7 - Earnings Per Share

Note 7 - Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	7. 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 per share are as follows: Three Months Ended Six Months Ended June 30, June 30, (In thousands, except per share amounts) 2024 2023 2024 2023 Income before noncontrolling interests $ 2,894 $ 3,300 $ 16,751 $ 21,322 Income/(loss) attributable to noncontrolling interests (91 ) (71 ) (55 ) 197 Net income attributable to Associated Capital Group, Inc.'s shareholders $ 2,985 $ 3,371 $ 16,806 $ 21,125 Weighted average number of shares outstanding - basic 21,392 21,870 21,446 21,920 Weighted average number of shares outstanding - diluted 21,392 21,870 21,446 21,920 Basic and Diluted EPS $ 0.14 $ 0.15 $ 0.78 $ 0.96

Note 8 - Equity

Note 8 - Equity	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Equity [Text Block]	8. 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’s Board of Directors periodically grants shares of Phantom Restricted Stock awards (“Phantom RSAs”). Under the terms of the grants, the Phantom RSAs vest 30% and 70% after three five The Phantom RSAs are treated as a liability because cash settlement is required and compensation will be recognized over the vesting period. In determining the compensation expense to be recognized each period, the Company will re-measure the fair value of the liability at each reporting date taking into account the remaining vesting period attributable to each award and the current market value of the Company’s Class A Stock. In making these determinations, the Company will consider the impact of Phantom RSAs that have been forfeited prior to vesting (e.g., due to an employee termination). The Company has elected to consider forfeitures as they occur. Based on the closing price of the Company’s Class A Stock on June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 The following table summarizes our stock-based compensation as well as unrecognized compensation for the three six June 30, 2024 2023 Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Stock-based compensation expense $ 595 $ 323 $ 757 $ 205 Remaining expense to be recognized, if all vesting conditions are met (1) 7,131 6,012 Weighted average remaining contractual term (in years) 2.2 2.2 ( 1 not The following table summarizes Phantom RSA ("PRSA") activity: PRSAs Weighted Average Grant Date Fair Value Balance at December 31, 2023 233,695 $ 37.38 Granted - - Forfeited - - Vested - - Balance at March 31, 2024 233,695 $ 37.38 Granted 97,200 34.28 Forfeited - - Vested (27,300 ) 35.82 Balance at June 30, 2024 303,595 $ 36.53 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: For the period ended June 30, 2024: Number of shares purchased Average price per share Remaining repurchase authorization December 31, 2023 156,664 Share repurchases under stock repurchase program (1) (117,354 ) $ 33.63 Remaining repurchase authorization March 31, 2024 (2) 389,310 Share repurchases under stock repurchase program (1) (65,469 ) $ 33.88 Remaining repurchase authorization June 30, 2024 323,841 For the period ended June 30, 2023: Remaining repurchase authorization December 31, 2022 609,352 Share repurchases under stock repurchase program (1) (52,307 ) $ 37.27 Remaining repurchase authorization March 31, 2023 557,045 Share repurchases under stock repurchase program (1) (211,870 ) $ 35.95 Remaining repurchase authorization June 30, 2023 345,175 ( 1 three June 30, 2024 2023, six June 30, 2024 2023, ( 2 February 6, 2024, Dividends During the three six June 30, 2024 2023,

Note 9 - Goodwill

Note 9 - Goodwill	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Goodwill Disclosure [Text Block]	9. At June 30, 2024 December 31, 2023, not three six June 30, 2024 2023, no

Note 10 - Guarantees, Contingen

Note 10 - Guarantees, Contingencies and Commitments	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	10. From time to time, the Company may may may not The Company has also entered into arrangements with various other third third no no

Note 11 - Subsequent Events

Note 11 - Subsequent Events	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	11. From July 1, 2024 August 9, 2024, On August 7, 2024, On August 7, 2024,

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	Other
Rule 10b5-1 Arrangement Terminated [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false

Note 2 - Revenue (Tables)

Note 2 - Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Investment advisory and incentive fees Asset-based advisory fees $ 1,217 $ 1,291 $ 2,444 $ 2,606 Performance-based advisory fees 1 - 1 1 Sub-advisory fees 1,271 989 2,951 2,084 Total investment advisory and incentive fees 2,489 2,280 5,396 4,691 Other 106 102 210 156 Total revenues $ 2,595 $ 2,382 $ 5,606 $ 4,847

Note 3 - Investments in Secur_2

Note 3 - Investments in Securities (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]	June 30, 2024 December 31, 2023 Cost Fair Value Cost Fair Value Debt - Trading Securities: U.S. Treasury Bills $ 45,133 $ 46,060 $ 88,300 $ 89,155 Equity Securities: Common stocks 219,878 225,108 198,269 191,346 Mutual funds 651 1,384 566 1,186 Other investments 4,609 3,631 5,166 4,051 Total investments in equity securities 225,138 230,123 204,001 196,583 Total investments in securities $ 270,271 $ 276,183 $ 292,301 $ 285,738 June 30, 2024 December 31, 2023 Cost Fair Value Cost Fair Value Closed-end funds $ 40,270 $ 55,021 $ 39,680 $ 53,048 Mutual funds 50,783 73,903 50,136 73,703 Total investments in affiliated registered investment companies $ 91,053 $ 128,924 $ 89,816 $ 126,751
Security Sold Short [Table Text Block]	June 30, 2024 December 31, 2023 Cost Fair Value Cost Fair Value Common stocks $ 5,782 $ 5,998 $ 5,227 $ 5,035 Other investments 105 394 631 883 Total securities sold, not yet purchased $ 5,887 $ 6,392 $ 5,858 $ 5,918

Note 4 - Investment Partnersh_2

Note 4 - Investment Partnerships and Other Entities (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Condensed Balance Sheet [Table Text Block]	June 30, 2024 Prior to Consolidated Assets Consolidation Entities As Reported Cash and cash equivalents $ 337,777 $ 3,540 $ 341,317 Investments in U.S. Treasury Bills 39,863 6,197 46,060 Investments in equity securities 172,456 57,667 230,123 Investments in affiliated registered investment companies 182,362 (53,438 ) 128,924 Investments in partnerships 160,488 (19,895 ) 140,593 Receivable from brokers 19,010 10,288 29,298 Investment advisory fees receivable 1,234 (6 ) 1,228 Other assets (1) 28,499 2,974 31,473 Total assets $ 941,689 $ 7,327 $ 949,016 Liabilities, redeemable noncontrolling interests and equity Securities sold, not yet purchased $ 6,043 $ 349 $ 6,392 Payable to brokers and other liabilities (1) 20,167 1,290 21,457 Redeemable noncontrolling interests - 5,688 5,688 Total equity 915,479 - 915,479 Total liabilities, redeemable noncontrolling interests and equity $ 941,689 $ 7,327 $ 949,016 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
Condensed Income Statement [Table Text Block]	Three Months Ended June 30, 2024 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 2,703 $ (108 ) $ 2,595 Operating loss (3,270 ) (404 ) (3,674 ) Total other income, net 7,250 2 7,252 Income/(loss) before noncontrolling interests 2,985 (91 ) 2,894 Income/(loss) attributable to noncontrolling interests, net of taxes - (91 ) (91 ) Net income $ 2,985 $ - $ 2,985 Three Months Ended June 30, 2023 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 2,489 $ (107 ) $ 2,382 Operating loss (3,107 ) (364 ) (3,471 ) Total other income, net 8,003 608 8,611 Income/(loss) before noncontrolling interests 3,371 (71 ) 3,300 Income/(loss) attributable to noncontrolling interests, net of taxes - (71 ) (71 ) Net income $ 3,371 $ - $ 3,371 Six Months Ended June 30, 2024 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 5,823 $ (217 ) $ 5,606 Operating loss (7,877 ) (767 ) (8,644 ) Total other income, net 29,697 180 29,877 Income/(loss) before noncontrolling interests 16,806 (55 ) 16,751 Income/(loss) attributable to noncontrolling interests, net of taxes - (55 ) (55 ) Net income $ 16,806 $ - $ 16,806 Six Months Ended June 30, 2023 Prior to Consolidated Consolidation Entities As Reported Total revenues $ 5,067 $ (220 ) $ 4,847 Operating loss (7,843 ) (761 ) (8,604 ) Total other income/(loss), net 35,625 (2,279 ) 33,346 Income/(loss) before noncontrolling interests 21,125 197 21,322 Income/(loss) attributable to noncontrolling interests, net of taxes - 197 197 Net income $ 21,125 $ - $ 21,125
Schedule of Variable Interest Entities [Table Text Block]	June 30, 2024 December 31, 2023 Cash and cash equivalents $ 294 $ 302 Investments in equity securities 9,544 9,695 Receivable from brokers 234 166 Accrued expenses and other liabilities (23 ) (46 ) Redeemable noncontrolling interests (451 ) (451 ) AC Group's net interests in consolidated VIEs $ 9,598 $ 9,666

Note 5 - Fair Value (Tables)

Note 5 - Fair Value (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	June 30, 2024 Assets Level 1 Level 2 Level 3 Total Cash equivalents $ 339,920 $ - $ - $ 339,920 Investments in securities (including GAMCO stock): Trading - U.S. Treasury Bills 46,060 - - 46,060 Common stocks 221,813 1,260 2,035 225,108 Mutual funds 1,384 - - 1,384 Other 2,778 727 126 3,631 Total investments in securities 272,035 1,987 2,161 276,183 Investments in affiliated registered investment companies: Closed-end funds - equity securities 45,165 - - 45,165 Preferred securities issued by Closed-end funds (a) - - 9,856 9,856 Mutual funds 73,903 - - 73,903 Total investments in affiliated registered investment companies 119,068 - 9,856 128,924 Total investments held at fair value 391,103 1,987 12,017 405,107 Total assets at fair value $ 731,023 $ 1,987 $ 12,017 $ 745,027 Liabilities Common stocks $ 5,998 $ - $ - $ 5,998 Other 36 358 - 394 Securities sold, not yet purchased 6,034 358 - 6,392 Total liabilities at fair value $ 6,034 $ 358 $ - $ 6,392 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
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, Assets: 2024 2023 2024 2023 Beginning balance $ 12,110 $ 14,741 $ 10,610 $ 13,774 Total gains/(losses) 100 - 100 (33 ) Purchases - - 3,900 1,000 Sales/return of capital (193 ) (250 ) (2,593 ) (250 ) Ending balance $ 12,017 $ 14,491 $ 12,017 $ 14,491 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 $ 100 $ - $ 100 $ (33 )

Note 7 - Earnings Per Share (Ta

Note 7 - Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, (In thousands, except per share amounts) 2024 2023 2024 2023 Income before noncontrolling interests $ 2,894 $ 3,300 $ 16,751 $ 21,322 Income/(loss) attributable to noncontrolling interests (91 ) (71 ) (55 ) 197 Net income attributable to Associated Capital Group, Inc.'s shareholders $ 2,985 $ 3,371 $ 16,806 $ 21,125 Weighted average number of shares outstanding - basic 21,392 21,870 21,446 21,920 Weighted average number of shares outstanding - diluted 21,392 21,870 21,446 21,920 Basic and Diluted EPS $ 0.14 $ 0.15 $ 0.78 $ 0.96

Note 8 - Equity (Tables)

Note 8 - Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Share-Based Payment Arrangement, Cost by Plan [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Stock-based compensation expense $ 595 $ 323 $ 757 $ 205 Remaining expense to be recognized, if all vesting conditions are met (1) 7,131 6,012 Weighted average remaining contractual term (in years) 2.2 2.2
Share-Based Payment Arrangement, Activity [Table Text Block]	PRSAs Weighted Average Grant Date Fair Value Balance at December 31, 2023 233,695 $ 37.38 Granted - - Forfeited - - Vested - - Balance at March 31, 2024 233,695 $ 37.38 Granted 97,200 34.28 Forfeited - - Vested (27,300 ) 35.82 Balance at June 30, 2024 303,595 $ 36.53
Class of Treasury Stock [Table Text Block]	For the period ended June 30, 2024: Number of shares purchased Average price per share Remaining repurchase authorization December 31, 2023 156,664 Share repurchases under stock repurchase program (1) (117,354 ) $ 33.63 Remaining repurchase authorization March 31, 2024 (2) 389,310 Share repurchases under stock repurchase program (1) (65,469 ) $ 33.88 Remaining repurchase authorization June 30, 2024 323,841 For the period ended June 30, 2023: Remaining repurchase authorization December 31, 2022 609,352 Share repurchases under stock repurchase program (1) (52,307 ) $ 37.27 Remaining repurchase authorization March 31, 2023 557,045 Share repurchases under stock repurchase program (1) (211,870 ) $ 35.95 Remaining repurchase authorization June 30, 2023 345,175

Note 2 - Revenue - Disaggregati

Note 2 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Total revenues	$ 2,595	$ 2,382	$ 5,606	$ 4,847
Asset Based Advisory Fees [Member]
Total revenues	1,217	1,291	2,444	2,606
Performance Based Advisory Fees [Member]
Total revenues	1	0	1	1
Sub Advisory Fees [Member]
Total revenues	1,271	989	2,951	2,084
Investment Advice [Member]
Total revenues	2,489	2,280	5,396	4,691
Other Miscellaneous Revenues [Member]
Total revenues	$ 106	$ 102	$ 210	$ 156

Note 3 - Investments in Secur_3

Note 3 - Investments in Securities - Investments in Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Trading - U.S. Treasury Bills	$ 46,060	$ 89,155
Equity Securities	225,138	204,001
Investments in equity securities	230,123	196,583
Total investments in securities	270,271	292,301
Total investments in securities, fair value	276,183	285,738
Investment, Affiliated Issuer [Member]
Investment in registered investment companies, cost	91,053	89,816
Investments in affiliated registered investment companies, fair value	128,924	126,751
Closed End Funds [Member] | Investment, Affiliated Issuer [Member]
Investment in registered investment companies, cost	40,270	39,680
Investments in affiliated registered investment companies, fair value	55,021	53,048
US Treasury Bill Securities [Member]
U.S. Treasury Bills	45,133	88,300
Trading - U.S. Treasury Bills	46,060	89,155
Mutual Fund [Member]
Equity Securities	651	566
Investments in equity securities	1,384	1,186
Mutual Fund [Member] | Investment, Affiliated Issuer [Member]
Investment in registered investment companies, cost	50,783	50,136
Investments in affiliated registered investment companies, fair value	73,903	73,703
Common Stock [Member]
Equity Securities	219,878	198,269
Investments in equity securities	225,108	191,346
Other Investments [Member]
Equity Securities	4,609	5,166
Investments in equity securities	$ 3,631	$ 4,051

Note 3 - Investments in Secur_4

Note 3 - Investments in Securities - Securities Sold, Not Yet Purchased (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Total securities sold, not yet purchased, cost	$ 5,887	$ 5,858
Total securities sold, not yet purchased, fair value	6,392	5,918
Common Stock [Member]
Total securities sold, not yet purchased, cost	5,782	5,227
Total securities sold, not yet purchased, fair value	5,998	5,035
Other Investments [Member]
Total securities sold, not yet purchased, cost	105	631
Total securities sold, not yet purchased, fair value	$ 394	$ 883

Note 4 - Investment Partnersh_3

Note 4 - Investment Partnerships and Other Entities (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$ 102,000	$ 107,400
Investments in Unaffiliated Entities	38,600	35,600
Assets	949,016	943,797
Liabilities	27,849	30,719
Redeemable Noncontrolling Interest, Equity, Carrying Amount	5,688	6,103
Voting Interest Entities [Member]
Assets	70,600	72,400
Liabilities	1,800	1,400
Redeemable Noncontrolling Interest, Equity, Carrying Amount	5,200	5,600
Net Assets	$ 63,600	$ 65,400
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 4 - Investment Partnersh_4

Note 4 - Investment Partnerships and Other Entities - Net Impact of the Consolidated Investment Partnerships and Other Entities on the Statements of Financial Condition (Details) - USD ($) $ in Thousands		Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Cash and cash equivalents		$ 341,317		$ 317,487	$ 381,387
Investments in U.S. Treasury Bills		46,060		89,155
Investments in equity securities		230,123		196,583
Investments in affiliated registered investment companies		128,924		126,751
Investments in partnerships		140,593		142,974
Receivable from brokers		29,298		30,268
Investment advisory fees receivable		1,228		4,711
Other assets	[1]	31,473		35,868
Total assets		949,016		943,797
Securities sold, not yet purchased		6,392		5,918
Payable to brokers and other liabilities(1)		21,457		24,801
Redeemable noncontrolling interests		5,688		6,103
Total equity		915,479	$ 916,850	906,975	$ 899,567	$ 906,001	$ 890,196
Total liabilities, redeemable noncontrolling interests and equity		949,016		943,797
Consolidated Entity, Excluding Consolidated Entities [Member]
Cash and cash equivalents		337,777		299,508
Investments in U.S. Treasury Bills		39,863		79,714
Investments in equity securities		172,456		149,154
Investments in affiliated registered investment companies		182,362		181,641
Investments in partnerships		160,488		163,226
Receivable from brokers		19,010		25,026
Investment advisory fees receivable		1,234		4,714
Other assets	[1]	28,499		33,444
Total assets		941,689		936,427
Securities sold, not yet purchased		6,043		5,639
Payable to brokers and other liabilities(1)	[1]	20,167		23,813
Redeemable noncontrolling interests		0		0
Total equity		915,479		906,975
Total liabilities, redeemable noncontrolling interests and equity		941,689		936,427
Consolidated Entities [Member]
Cash and cash equivalents		3,540		17,979
Investments in U.S. Treasury Bills		6,197		9,441
Investments in equity securities		57,667		47,429
Investments in affiliated registered investment companies		(53,438)		(54,890)
Investments in partnerships		(19,895)		(20,252)
Receivable from brokers		10,288		5,242
Investment advisory fees receivable		(6)		(3)
Other assets	[1]	2,974		2,424
Total assets		7,327		7,370
Securities sold, not yet purchased		349		279
Payable to brokers and other liabilities(1)		1,290		988
Redeemable noncontrolling interests		5,688		6,103
Total equity		0		0
Total liabilities, redeemable noncontrolling interests and equity		$ 7,327		$ 7,370
[1]Represents the summation of multiple captions from the condensed consolidated statements of financial condition.

Note 4 - Investment Partnersh_5

Note 4 - Investment Partnerships and Other Entities - Net Impact of Consolidated Entities on the Statements of Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Total revenues	$ 2,595	$ 2,382	$ 5,606	$ 4,847
Operating loss	(3,674)	(3,471)	(8,644)	(8,604)
Total other income, net	7,252	8,611	29,877	33,346
Income/(loss) before noncontrolling interests	2,894	3,300	16,751	21,322
Income/(loss) attributable to noncontrolling interests	(91)	(71)	(55)	197
Net income	2,985	3,371	16,806	21,125
Consolidated Entity, Excluding Consolidated Entities [Member]
Total revenues	2,703	2,489	5,823	5,067
Operating loss	(3,270)	(3,107)	(7,877)	(7,843)
Total other income, net	7,250	8,003	29,697	35,625
Income/(loss) before noncontrolling interests	2,985	3,371	16,806	21,125
Income/(loss) attributable to noncontrolling interests	0	0	0	0
Net income	2,985	3,371	16,806	21,125
Consolidated Entities [Member]
Total revenues	(108)	(107)	(217)	(220)
Operating loss	(404)	(364)	(767)	(761)
Total other income, net	2	608	180	(2,279)
Income/(loss) before noncontrolling interests	(91)	(71)	(55)	197
Income/(loss) attributable to noncontrolling interests	(91)	(71)	(55)	197
Net income	$ 0	$ 0	$ 0	$ 0

Note 4 - Investment Partnersh_6

Note 4 - Investment Partnerships and Other Entities - Balances Related to VIEs (Details) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Cash and cash equivalents		$ 341,317	$ 317,487	$ 381,387
Investments in equity securities		230,123	196,583
Receivable from brokers		29,298	30,268
Redeemable noncontrolling interests		(5,688)	(6,103)
Variable Interest Entity, Primary Beneficiary [Member]
Cash and cash equivalents		294	302
Investments in equity securities		9,544	9,695
Receivable from brokers		234	166
Accrued expenses and other liabilities	[1]	(23)	(46)
Redeemable noncontrolling interests		(451)	(451)
AC Group's net interests in consolidated VIEs		$ 9,598	$ 9,666
[1]Represents the summation of multiple captions from the condensed consolidated statements of financial condition.

Note 5 - Fair Value (Details Te

Note 5 - Fair Value (Details Textual) - US Treasury Securities [Member] - Measurement Input, Discount Rate [Member]	Jun. 30, 2024
Minimum [Member]
Debt Securities, Available-for-Sale, Measurement Input	0.0451
Maximum [Member]
Debt Securities, Available-for-Sale, Measurement Input	0.0536
Weighted Average [Member]
Debt Securities, Available-for-Sale, Measurement Input	0.0515

Note 5 - Fair Value - Assets an

Note 5 - Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Trading - U.S. Treasury Bills	$ 46,060	$ 89,155
Investments in equity securities	230,123	196,583
Total investments in securities	276,183	285,738
Securities sold, not yet purchased	6,392	5,918
US Treasury Bill Securities [Member]
Trading - U.S. Treasury Bills	46,060	89,155
Common Stock [Member]
Investments in equity securities	225,108	191,346
Mutual Fund [Member]
Investments in equity securities	1,384	1,186
Other Investments [Member]
Investments in equity securities	3,631	4,051
Fair Value, Recurring [Member]
Cash equivalents	339,920	315,017
Total investments in securities	276,183	285,738
Investments in affiliated registered investment companies	128,924	126,751
Investment, fair value	405,107	412,489
Total assets at fair value	745,027	727,506
Securities sold, not yet purchased	6,392	5,918
Total liabilities at fair value	6,392	5,918
Fair Value, Recurring [Member] | US Treasury Bill Securities [Member]
Trading - U.S. Treasury Bills	46,060	89,155
Fair Value, Recurring [Member] | Common Stock [Member]
Investments in equity securities	225,108	191,346
Securities sold, not yet purchased	5,998	5,035
Fair Value, Recurring [Member] | Mutual Fund [Member]
Investments in equity securities	1,384	1,186
Investments in affiliated registered investment companies	73,903	73,703
Fair Value, Recurring [Member] | Other Investments [Member]
Investments in equity securities	3,631	4,051
Securities sold, not yet purchased	394	883
Fair Value, Recurring [Member] | Closed End Funds [Member]
Investments in affiliated registered investment companies	45,165	44,692
Fair Value, Recurring [Member] | Preferred Securities From Closed End Funds [Member]
Investments in affiliated registered investment companies	9,856	8,356
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Cash equivalents	339,920	315,017
Total investments in securities	272,035	281,651
Investments in affiliated registered investment companies	119,068	118,395
Investment, fair value	391,103	400,046
Total assets at fair value	731,023	715,063
Securities sold, not yet purchased	6,034	5,614
Total liabilities at fair value	6,034	5,614
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury Bill Securities [Member]
Trading - U.S. Treasury Bills	46,060	89,155
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Common Stock [Member]
Investments in equity securities	221,813	187,963
Securities sold, not yet purchased	5,998	5,035
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member]
Investments in equity securities	1,384	1,186
Investments in affiliated registered investment companies	73,903	73,703
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other Investments [Member]
Investments in equity securities	2,778	3,347
Securities sold, not yet purchased	36	579
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Closed End Funds [Member]
Investments in affiliated registered investment companies	45,165	44,692
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Preferred Securities From Closed End Funds [Member]
Investments in affiliated registered investment companies	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Cash equivalents	0	0
Total investments in securities	1,987	1,833
Investments in affiliated registered investment companies	0	0
Investment, fair value	1,987	1,833
Total assets at fair value	1,987	1,833
Securities sold, not yet purchased	358	304
Total liabilities at fair value	358	304
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury Bill Securities [Member]
Trading - U.S. Treasury Bills	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Common Stock [Member]
Investments in equity securities	1,260	1,348
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	727	485
Securities sold, not yet purchased	358	304
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	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Cash equivalents	0	0
Total investments in securities	2,161	2,254
Investments in affiliated registered investment companies	9,856	8,356
Investment, fair value	12,017	10,610
Total assets at fair value	12,017	10,610
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]
Trading - U.S. Treasury Bills	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	126	219
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	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Preferred Securities From Closed End Funds [Member]
Investments in affiliated registered investment companies	$ 9,856	$ 8,356

Note 5 - Fair Value - Additiona

Note 5 - Fair Value - Additional Information About Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Beginning balance	$ 12,110	$ 14,741	$ 10,610	$ 13,774
Total gains/(losses)	100	0	100	(33)
Purchases	0	0	3,900	1,000
Sales/return of capital	(193)	(250)	(2,593)	(250)
Ending balance	12,017	14,491	12,017	14,491
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	$ 100	$ 0	$ 100	$ (33)

Note 6 - Income Taxes (Details

Note 6 - Income Taxes (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Effective Income Tax Rate Reconciliation, Percent	21.10%	13.80%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%
Deferred Tax Assets, Net of Valuation Allowance	$ 6.5
Deferred Tax Assets, Valuation Allowance	$ 0.2		$ 0.4
Domestic Tax Jurisdiction [Member]
Open Tax Year	2020 2021 2022
State and Local Jurisdiction [Member]
Open Tax Year	2017 2018 2019 2020 2021 2022 2023 2024

Note 7 - Earnings Per Share - C

Note 7 - Earnings Per Share - Computations of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income/(loss) before noncontrolling interests	$ 2,894	$ 3,300	$ 16,751	$ 21,322
Income/(loss) attributable to noncontrolling interests	(91)	(71)	(55)	197
Net income attributable to Associated Capital Group, Inc.'s shareholders	$ 2,985	$ 3,371	$ 16,806	$ 21,125
Weighted average number of shares outstanding - basic (in shares)	21,392	21,870	21,446	21,920
Weighted average number of shares outstanding - diluted (in shares)	21,392	21,870	21,446	21,920
Basic (in dollars per share)	$ 0.14	$ 0.15	$ 0.78	$ 0.96

Note 8 - Equity (Details Textua

Note 8 - Equity (Details Textual) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Mar. 31, 2024 shares	[1]	Feb. 06, 2024 shares	Dec. 31, 2023 USD ($) shares	Mar. 31, 2023 shares	Dec. 31, 2022 shares	May 08, 2018 shares	Aug. 03, 2017 shares	Feb. 07, 2017 shares	Dec. 31, 2015 shares
Employee-related Liabilities | $	$ 12,448		$ 12,448					$ 15,169
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares) | shares							350,000				500,000	1,000,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares) | shares	323,841	345,175	323,841	345,175	389,310			156,664	557,045	609,352			500,000
Treasury Stock, Value, Acquired, Cost Method | $	$ 2,218	$ 7,617	$ 6,164	$ 9,566
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares	$ 0.1	$ 0.1	$ 0.1	$ 0.1
Maximum [Member]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares) | shares														500,000
Phantom Restricted Stock Award [Member]
Employee-related Liabilities | $	$ 3,300		$ 3,300					$ 3,500
Phantom Restricted Stock Award [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage			30%
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)			3 years
Phantom Restricted Stock Award [Member] | Share-Based Payment Arrangement, Tranche Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage			70%
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)			5 years
Common Class A [Member]
Number of Votes Per Share			1
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares	$ 0.1	0.1	$ 0.1	0.1
Common Class B [Member]
Number of Votes Per Share			10
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares	$ 0.1	$ 0.1	$ 0.1	$ 0.1
[1]On February 6, 2024, the Board of Directors authorized the repurchase of an additional 350,000 shares.

Note 8 - Equity - Summary of St

Note 8 - Equity - Summary of Stock-based Compensation and Unrecognized Compensation (Details) - Phantom Restricted Stock Award [Member] - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Stock-based compensation expense		$ 595	$ 323	$ 757	$ 205
Remaining expense to be recognized, if all vesting conditions are met(1)	[1]	$ 7,131	$ 6,012	$ 7,131	$ 6,012
Weighted average remaining contractual term (in years) (Year)				2 years 2 months 12 days	2 years 2 months 12 days
[1]Does not include an estimate for projected future dividends.

Note 8 - Equity - Phantom RSA A

Note 8 - Equity - Phantom RSA Activity (Details) - Phantom Restricted Stock Award [Member] - $ / shares	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Balance, shares (in shares)	233,695	233,695
Balance, weighted average grant date fair value (in dollars per share)	$ 37.38	$ 37.38
Granted, shares (in shares)	97,200	0
Granted, weighted average grant date fair value (in dollars per share)	$ 34.28	$ 0
Forfeited, shares (in shares)	0	0
Forfeited, weighted average grant date fair value (in dollars per share)	$ 0	$ 0
Vested, shares (in shares)	(27,300)	0
Vested, weighted average grant date fair value (in dollars per share)	$ 35.82	$ 0
Balance, shares (in shares)	303,595	233,695
Balance, weighted average grant date fair value (in dollars per share)	$ 36.53	$ 37.38

Note 8 - Equity - Stock Repurch

Note 8 - Equity - Stock Repurchase Activity (Details) - $ / shares		3 Months Ended
		Jun. 30, 2024		Mar. 31, 2024		Jun. 30, 2023	Mar. 31, 2023
Remaining repurchase authorization (in shares)		389,310	[1]	156,664		557,045	609,352
Share repurchases under stock repurchase program (1) (in shares)	[2]	(65,469)		(117,354)		(211,870)	(52,307)
Share repurchases under stock repurchase program (1) (in dollars per share)	[2]	$ 33.88		$ 33.63		$ 35.95	$ 37.27
Remaining repurchase authorization (in shares)		323,841		389,310	[1]	345,175	557,045
[1]On February 6, 2024, the Board of Directors authorized the repurchase of an additional 350,000 shares.[2]Repurchases totaled $2.2 million and $7.6 million for the three-month periods ended June 30, 2024 and 2023, respectively. Repurchases totaled $6.2 and $9.6 million for the six-month periods ended June 30, 2024 and 2023, respectively.

Note 9 - Goodwill (Details Text

Note 9 - Goodwill (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Goodwill	$ 3,519		$ 3,519		$ 3,519
Goodwill, Impairment Loss	0	$ 0	0	$ 0
Gabelli Company Investment Advisers Inc [Member]
Goodwill	$ 3,400		$ 3,400		$ 3,400

Note 11 - Subsequent Events (De

Note 11 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	3 Months Ended				6 Months Ended
		Aug. 07, 2024	Aug. 08, 2024	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Treasury Stock, Shares, Acquired (in shares)	[1]			65,469	117,354	211,870	52,307
Shares Acquired, Average Cost Per Share (in dollars per share)	[1]			$ 33.88	$ 33.63	$ 35.95	$ 37.27
Common Stock, Dividends, Per Share, Declared (in dollars per share)				$ 0.1		$ 0.1		$ 0.1	$ 0.1
Dividends				$ 2,138		$ 2,188		$ 2,138	$ 2,188
Common Class A [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)				$ 0.1		$ 0.1		$ 0.1	$ 0.1
Subsequent Event [Member]
Treasury Stock, Shares, Acquired (in shares)			84,861
Shares Acquired, Average Cost Per Share (in dollars per share)			$ 31.43
Common Stock, Dividends, Per Share, Declared (in dollars per share)		$ 0.2
Dividends		$ 4,300
Subsequent Event [Member] | Common Class A [Member]
Share Repurchase Program, Authorized, Increase in Number of Shares (in shares)		200,000
[1]Repurchases totaled $2.2 million and $7.6 million for the three-month periods ended June 30, 2024 and 2023, respectively. Repurchases totaled $6.2 and $9.6 million for the six-month periods ended June 30, 2024 and 2023, respectively.