UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of The
                        Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported) July 23, 2004


                         GABELLI ASSET MANAGEMENT INC.
             (Exact name of registrant as specified in its charter)




            New York                     1-14761                  13-4007862
- ------------------------------   -----------------------     -------------------
        (State or other          (Commission File Number)       (IRS Employer
 jurisdiction of incorporation)                              Identification No.)





        One Corporate Center, Rye,  NY                          10580
  ----------------------------------------                    ----------
 (Address of principal executive offices)                     (Zip Code)




        Registrant's telephone number, including area code (914) 921-3700



Item 7. Financial Statements and Exhibits.

Exhibit
 Number     Description
- --------    -----------
  99.1      Press Release dated July 23, 2004




ITEM 9. REGULATION FD DISCLOSURE

     On July 23, 2004,  Gabelli Asset  Management Inc.  reported its results for
the second quarter 2004. A copy of the Company's press release,  attached hereto
as Exhibit 99.1 and incorporated  herein by reference,  is being furnished under
this Item 9 in  accordance  with the  provisions of Regulation FD (17 CFR ss.ss.
243.100 et seq .).


ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

     On July 23, 2004,  Gabelli Asset  Management Inc.  reported its results for
the second quarter 2004. A copy of the Company's press release,  attached hereto
as Exhibit 99.1 and incorporated  herein by reference,  is being furnished under
this Item 12.


                                   SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                                Gabelli Asset Management Inc.

                                                By: /s/ Michael R. Anastasio Jr.
                                                --------------------------------
                                                        Michael R. Anastasio Jr.
                                                        Chief Accounting Officer


Date:    July 23, 2004