---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-003183"
form_type: "8-K"
ticker: "ACGP"
cik: "0001642122"
company_name: "Associated Capital Group, Inc."
filed_at: "2023-02-13T23:59:59+00:00"
generated_at: "2026-06-19T16:07:16.958208+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Associated Capital Q4 net income $13.7M ($0.62 EPS); full year net loss $48.9M as investments decline

## Summary
- Full year revenue $15.2M, down 27% YoY from $20.9M on lower incentive fees.
- Operating loss $11.3M for 2022 vs $19.1M in 2021; improved on lower compensation.
- AUM record $1.84B at year-end, up from $1.78B, with net inflows of $100M for the year.
- Merger arbitrage fund gross return +4.47% (net +2.75%) in 2022; positive net returns 36 of last 38 years.
- Book value per share $40.48 at Dec 31, 2022 vs $42.48 a year ago; dividends and buybacks continue.

## SEC filing metadata
- accession: 0001437749-23-003183
- form_type: 8-K
- ticker: ACGP
- cik: 0001642122
- company_name: Associated Capital Group, Inc.
- filed_at: 2023-02-13T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1642122/000143774923003183/0001437749-23-003183-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1642122/000143774923003183/ac20221117_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-003183
- JSON: https://secwatch.observer/filing/0001437749-23-003183.json
- Plain text: https://secwatch.observer/filing/0001437749-23-003183.txt

## Key facts
- Earnings Releases
  Associated Capital Group, Inc. reported financial results for quarter ended December 31, 2022.
  - Period: quarter ended December 31, 2022
  - Result: reported results
  source text: On February 8, 2023, Associated Capital Group, Inc. (NYSE: AC) (“Associated Capital”), announced its results of operations for the quarter, and year, ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1642122/000143774923003183/0001437749-23-003183-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.