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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Associated Capital Group
Associated Capital Group (AC) investor relations material
Associated Capital Group has been otc
Associated Capital Group Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary15 May, 2026
Executive summary
Assets under management (AUM) rose to $1.50 billion at March 31, 2026, up from $1.27 billion a year earlier, driven by investor inflows and strong merger arbitrage performance.
Book value per share increased to $44.53 from $42.51 year-over-year.
Voting control transitioned from Mario Gabelli to Marc Gabelli in January 2026 as part of a reorganization plan.
Financial highlights
Total revenues for Q1 2026 were $2.5 million, up from $2.1 million in Q1 2025, with $1.3 million from merger arbitrage strategies.
Net investment and other non-operating income was $3.2 million, down from $15.8 million in Q1 2025 due to lower unrealized appreciation.
Net loss attributable to shareholders was $0.8 million, or $(0.04) per diluted share, compared to net income of $7.7 million, or $0.36 per share, in Q1 2025.
Operating loss before management fee (non-GAAP) was $4.1 million, compared to $4.2 million in Q1 2025.
Outlook and guidance
Management plans to accelerate capital deployment to broaden product offerings and pursue acquisitions or direct investments in new businesses.
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Latest events from Associated Capital Group
- Record merger arbitrage returns and strong M&A activity fueled double-digit growth in 2025.AC
Q4 2025 - Nine directors up for election and auditor ratification headline the 2025 annual meeting.ACProxy Filing
- Strong Q3 returns, higher AUM, and increased dividends amid robust M&A activity.ACQ3 2025
- Q2 2025 net income jumped to $18.6M as merger arbitrage returns and AUM hit record highs.ACQ2 2025
- Q3 net income surged to $23.2M as $45.9M was returned to shareholders amid AUM decline.ACQ3 2024
- AUM dropped to $1.36B, but book value per share and shareholder returns increased.ACQ2 2024
- Net income fell, but AUM, book value per share, and share repurchases increased.ACQ1 2025
- Net income rose to $44.3M in 2024 as AUM fell and shareholder returns remained robust.ACQ4 2024
Associated Capital Group
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Frequently asked questions
Associated Capital Group Inc. (AC) is a diversified financial services company primarily involved in alternative investment management and institutional research. The company manages a range of investment products, including hedge funds, and offers specialized research services to institutional clients. Additionally, Associated Capital manages its own proprietary investment portfolio. The company emerged as a spin-off from GAMCO Investors, Inc., focusing on expanding its footprint in alternative asset management and research services. The firm operates through its subsidiaries, including Gabelli & Partners and Gabelli Private Equity Partners, among others. Associated Capital Group is headquartered in Greenwich, Connecticut, and its shares are listed on the New York Stock Exchange.