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ACGP on OTC

Associated Capital Group, Inc.

Associated Capital Group, Inc. is an American security brokers company based in Greenwich, incorporated in Delaware.2 Its shares trade on OTC under the symbol ACGP.2

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Last updated Oct 21, 2026.

Overview

$13.2MRevenue, fiscal 20243
$44.3MNet income, fiscal 20243

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  • TickerACGP on OTC2
  • IndustrySecurity Brokers, Dealers & Flotation Companies2
  • HeadquartersGreenwich, United States2
  • Incorporated inDE4
  • Business address191 Mason Street, Greenwich, Ct 068304
  • Filer categoryNon-accelerated filer, Smaller reporting company4
  • Legal formCorporation2
  • LEI549300FBGXGSSUE01W242
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 57258352

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Our disclosure and analysis in this report and in documents that are incorporated by reference contain some forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended (the “ Exchange Act ” ). Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements because they do not relate strictly to historical or current facts. You should not place undue reliance on these statements. They use words such as “ anticipate, ” “ estimate, ” “ expect, ” “ project, ” “ intend, ” “ plan, ” “ believe, ” and other words and terms of similar meaning. They also appear in any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outc…7 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-142.3%Operating margin3
336.5%Net margin3
3.9%Revenue growth, 20243
5.0%Return on equity3

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Income tax16¢$8.3M
  • Profit84¢$44.3M

Out of $13.2M in revenue.3

Where each dollar of operating cash went, fiscal 2024

  • Dividends paid80¢$46.8M
  • Share buybacks20¢$11.8M

Out of $26.9M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.3

Financial statements

Revenue89101112133$13.2M in 2024−51% since 2017
0$10.0M$20.0M$30.0M2017: $26.9M$26.9M20172018: $22.8M$22.8M2018−15%2019: $22.2M$22.2M2019−3%2020: $19.0M$19.0M2020−15%2021: $20.9M$20.9M2021+10%2022: $15.2M$15.2M2022−27%2023: $12.7M$12.7M2023−17%2024: $13.2M$13.2M2024+4%
Operating income89101112133-$18.8M in 2024−8% since 2017
-$30.0M-$20.0M-$10.0M02017: -$20.4M-$20.4M20172018: -$13.5M-$13.5M2018−34%2019: -$13.3M-$13.3M2019−2%2020: -$12.5M-$12.5M2020−6%2021: -$19.1M-$19.1M2021+53%2022: -$11.3M-$11.3M2022−41%2023: -$16.9M-$16.9M2023+50%2024: -$18.8M-$18.8M2024+11%
Net income89101112133$44.3M in 2024+402% since 2017
-$100.0M-$50.0M0$50.0M$100.0M2017: $8.8M$8.8M20172018: -$58.1M-$58.1M20182019: $39.2M$39.2M20192020: $18.8M$18.8M2020−52%2021: $59.2M$59.2M2021+215%2022: -$48.9M-$48.9M20222023: $37.5M$37.5M20232024: $44.3M$44.3M2024+18%
Fiscal year20172018201920202021202220232024
Revenue$26.9M8$22.8M9$22.2M10$19.0M11$20.9M12$15.2M13$12.7M3$13.2M3
Operating expenses$40.0M12$26.5M13$29.6M3$31.9M3
Operating income-$20.4M8-$13.5M9-$13.3M10-$12.5M11-$19.1M12-$11.3M13-$16.9M3-$18.8M3
Interest$227.0K8$262.0K9$216.0K10$180.0K11$310.0K12$216.0K13$462.0K13
Income before tax$81.3M12-$60.5M13$46.9M3$52.7M3
Income tax-$2.4M8-$11.5M9$12.6M10$9.4M11$17.7M12-$14.9M13$9.1M3$8.3M3
Net income$8.8M8-$58.1M9$39.2M10$18.8M11$59.2M12-$48.9M13$37.5M3$44.3M3
Earnings per share$0.378-$2.529$1.7410$0.8411$2.6812-$2.2213$1.723$2.083
Earnings per share (diluted)$0.378-$2.529$1.7410$0.8411$2.6812-$2.2213$1.723$2.083
Shares (weighted, basic)22.1M shares1222.0K shares1321.8M shares321.3M shares3
Shares (weighted, diluted)22.1M shares1222.0K shares1321.8M shares321.3M shares3

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Corporate structure

Associated Capital Group, Inc. sits at the top of its group. 16 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Associated Capital Group, Inc.

  • Associated Capital Group, Inc. Greenwich, Connecticut, United States
    • GABELLI SECURITIES INTERNATIONAL UK LIMITED London, United Kingdom
    • GABELLI & COMPANY INVESTMENT ADVISERS, INC. Subsidiary · Rye, New York, United States
      • GABELLI ASSOCIATES FUND Fund · Greenwich, Connecticut, United States
      • GABELLI ASSOCIATES FUND II L.P. Fund · Greenwich, Connecticut, United States
      • GABELLI ASSOCIATES LIMITED Fund · Greenwich, Connecticut, United States
      • Gabelli Associates Limited II E Fund · Greenwich, Connecticut, United States
      • Gabelli Fund, LDC Fund · Greenwich, Connecticut, United States
      • GABELLI INTERMEDIATE CREDIT FUND, L.P. Fund · Wilmington, Delaware, United States
      • GAMA Select Plus Master Fund, Ltd. Fund · Rye, New York, United States
      • GAMCO MEDICAL OPPORTUNITIES, L.P. Fund · Wilmington, Delaware, United States
    • Gabelli & Partners, LLC Subsidiary · Delaware, United States
    • GABELLI ARBITRAGE HOLDINGS LLC Subsidiary · Rye, New York, United States
    • GABELLI INVESTMENT PARTNERS INTERNATIONAL LLC Subsidiary · Rye, New York, United States
      • GABELLI & PARTNERS ITALIA LLC Subsidiary · Rye, New York, United States
      • GABELLI & PARTNERS ITALIA S.R.L. Subsidiary · Rye, New York, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Associated Capital Group, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$18.0M3 Dec 31, 2024$18.0M3 Dec 31, 2023+0.1%
Accumulated depreciation$1.8M3 Dec 31, 2024$1.5M3 Dec 31, 2023+24.7%
Property and equipment, net$16.2M3 Dec 31, 2024$16.5M3 Dec 31, 2023−2.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$299.6M3 Dec 31, 2024$317.5M3 Dec 31, 2023−5.6%
Stakes in other companies (equity method)$140.0M3 Dec 31, 2024$143.0M3 Dec 31, 2023−2.1%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$3.5M3 Dec 31, 2024$3.5M3 Dec 31, 20230%

Properties, in its own words

Our offices are owned by a wholly-owned subsidiary of AC and are located at 191 Mason Street, Greenwich, CT 06830. A portion of the space is leased to affiliates. AC received $133.2 thousand and $133.8 thousand from affiliates (primarily GAMCO) pursuant to lease agreements for this property for 2024 and 2023, respectively. These amounts are included in other revenues in the consolidated statements of income.

AC acquired 3 St. James Place, London, UK on March 3, 2020, which was fully leased to GAMCO commencing 2021. For the years ended December 31, 2024 and 2023, the Company received $285.9 thousand and $227.1 thousand, respectively, under the lease agreement. These amounts are included in other revenues in the consolidated statements of income.

The rest of Item 2

During 2024 and 2023, AC paid $74.3 thousand and $74.0 thousand, respectively, to GAMCO pursuant to a sublease based on the percentage of square footage occupied by several AC teammates (including pro rata allocation of common space). These amounts are included in other operating expenses in the consolidated statements of income.

Item 2 of the 10-K filed Mar 19, 2025.7

Leadership

Who has led Associated Capital Group, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Mario Gabelli2015–2016
  2. Douglas R. Jamieson2016–2024

Chair

  1. Mario Gabelli2015–2023

President

  1. Marc Gabelli2015
  2. Douglas R. Jamieson2016–2024

Chief financial officer

  1. Kieran Caterina2015
  2. Patrick L. Dennis2015
  3. Francis J. Conroy2017
  4. Timothy Schott2021
  5. Ian J. McAdams2022–2024
  6. Patrick Huvane2022–2023
20202025
Board members and other officers (11)

Subsidiaries and ownership

Also consolidated

Subsidiaries (Exhibit 21)

  • Gabelli & Company Investment Advisers, Inc. Delaware5
  • Gabelli & Partners, LLC Delaware5

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record. The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Gabelli Securities Group, Inc.May 12, 2015 to Oct 2, 20154

Timeline

  1. Aug 15, 20258-K Listing notice or transfer37
  2. Aug 6, 20258-K Results of operations38
  3. Jul 8, 20258-K Results of operations39
  4. Jun 5, 20258-K Shareholder vote40
  5. May 9, 20258-K Results of operations41
  6. Apr 7, 20258-K Results of operations42
  7. Feb 28, 20258-K Executive or director change43
  8. Feb 5, 20258-K Results of operations44
  9. Jan 15, 20258-K Results of operations45
  10. Nov 8, 20248-K Results of operations46
  11. Oct 7, 20248-K Results of operations47
  12. Sep 19, 20248-K Other events48
  13. Nov 14, 2016New chief executive Douglas R. Jamieson becomes CEO18
  14. Nov 2, 2015New chief executive Mario Gabelli becomes CEO19
  15. Apr 15, 2015Founded Associated Capital Group, Inc. is founded2

Calendar

When it reported results

  1. Aug 6, 2025Reported quarterly or annual results38
  2. Jul 8, 2025Reported quarterly or annual results39
  3. May 9, 2025Reported quarterly or annual results41
  4. Apr 7, 2025Reported quarterly or annual results42
  5. Feb 5, 2025Reported quarterly or annual results44
  6. Jan 15, 2025Reported quarterly or annual results45
  7. Nov 8, 2024Reported quarterly or annual results46
  8. Oct 7, 2024Reported quarterly or annual results47

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

103 filings to the SEC since October 2021: 4 annual reports, 12 quarterly reports, 45 major events, 16 insider forms, 8 large holders, 18 other. The latest 20:

  1. Sep 4, 202515-12G EDGAR
  2. Aug 25, 202525 EDGAR
  3. Aug 15, 20258-K EDGAR
  4. Aug 7, 202510-Q EDGAR
  5. Aug 6, 20258-K EDGAR
  6. Jul 8, 20258-K EDGAR
  7. Jun 5, 20258-K EDGAR
  8. May 9, 202510-Q EDGAR
  9. May 9, 20258-K EDGAR
  10. Apr 28, 2025ARS EDGAR
  11. Apr 28, 2025DEF 14A EDGAR
  12. Apr 7, 20258-K EDGAR
  13. Mar 19, 202510-K EDGAR
  14. Feb 28, 20258-K EDGAR
  15. Feb 13, 2025SCHEDULE 13G/A EDGAR
  16. Feb 5, 20258-K EDGAR
  17. Jan 15, 20258-K EDGAR
  18. Dec 3, 2024144 EDGAR
  19. Nov 13, 202410-Q EDGAR
  20. Nov 8, 20248-K EDGAR

The 103 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Mario J. Gabelli82$4.4M51
2024Douglas R. Jamieson70$500.0K$1.8M51
2024Ian J. McAdams32$350.0K$667.1K51
2024Patrick B. Huvane57$215.0K$425.7K51
2024Peter D. Goldstein71$250.0K$362.6K51
2023Executive Chair$5.0M51
2023Former ChiefExecutive Officer and President$475.0K$1.4M51
2023Chief Financial Officer$261.2K$524.7K51
2023Interim Chief Executive Officer (from March 172025)$210.0K$378.8K51
2023Senior Vice PresidentChief Legal Officer and Secretary$250.0K$376.1K51

SEC filer profile

How Associated Capital Group, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAssociated Capital Group, Inc.1
  • CIK0001642122
  • Employer ID (EIN)47-39659917
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company7
  • Incorporated inDelaware7
  • Fiscal year endsDecember 311
  • Industry code (SIC)6211 Security Brokers, Dealers & Flotation Companies1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address191 Mason Street, Greenwich, CT 068301
  • Phone914-921-51351
  • Shares outstanding2,201,859 Common Class A shares; 18,950,571 Common Class B shares as of Mar 11, 20257
  • Public float$88.3M as of Jun 30, 20247
  • AuditorDeloitte & Touche LLP, Stamford, Connecticut PCAOB ID 34; no auditor attestation of internal control over financial reporting7
  • On EDGAR sinceMay 12, 20151
  • Filings533 in all: 4 (223), 8-K (117), 3 (39), 10-Q (30), SC 13G/A (26), 144 (16), 10-K (10), DEF 14A (10)1
    All 29 form types

    CORRESP (8), SC 13G (8), UPLOAD (7), 10-12B/A (6), SC 13D/A (5), 4/A (4), ARS (3), SC TO-I/A (3), NT 10-Q (2), PRE 14A (2), SC 13D (2), SC TO-C (2), SC TO-I (2), 10-12B (1), 15-12G (1), 25 (1), 3/A (1), CERTNYS (1), S-8 (1), S-8 POS (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (10-K) Mar 19, 2025
    Quarterly report (10-Q) Aug 7, 2025
    Proxy statement (DEF 14A) Apr 28, 2025
    Latest 8-K (8-K) Aug 15, 2025

Securities registered for trading

ClassSymbolExchange
Class A Common Stock, par value $0.001 per shareACNew York Stock Exchange

From the cover page of the 10-K filed Mar 19, 2025 (Section 12(b) of the Exchange Act).7

Risk factors and legal proceedings

Legal proceedings

From time to time, we may be named in legal actions and proceedings. These actions may seek substantial or indeterminate compensatory as well as punitive damages or injunctive relief. We are also subject to governmental or regulatory examinations or investigations. Examinations or investigations can result in adverse judgments, settlements, fines, injunctions, restitutions or other relief. For any such matters, the consolidated financial statements include the necessary provisions for losses that we believe are probable and estimable. Furthermore, we evaluate whether there exist losses which may be reasonably possible and, if material, make the necessary disclosures. Management is not aware of any probable or reasonably possible losses at December 31, 2024. See also Note 12, Guarantees, Contingencies and Commitments, to the consolidated financial statements in Part II, Item 8 of this Form 10-K.

The opening of Item 3, Legal Proceedings.7

Sources

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