-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 TKaNGP8TGuIxo0JqNXTeSDLkh0zYLULkKiQ8UOMF8CejdXlj/4eKurslrAdOemVH
 sIf9Sy6N03m8GS3eFVNCZQ==

<SEC-DOCUMENT>0000807249-04-000329.txt : 20040907
<SEC-HEADER>0000807249-04-000329.hdr.sgml : 20040906
<ACCEPTANCE-DATETIME>20040907103851
ACCESSION NUMBER:		0000807249-04-000329
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040817
FILED AS OF DATE:		20040907
DATE AS OF CHANGE:		20040907

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Heuberger Alan Cletus
		CENTRAL INDEX KEY:			0001301119

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14761
		FILM NUMBER:		041017984

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		425-893-6382

	MAIL ADDRESS:	
		STREET 1:		2365 CARILLON POINT
		CITY:			KIRKLAND
		STATE:			WA
		ZIP:			98033

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GABELLI ASSET MANAGEMENT INC
		CENTRAL INDEX KEY:			0001060349
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				134007862
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		9149213700

	MAIL ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALPHA G INC
		DATE OF NAME CHANGE:	19980423
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2004-08-17</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001060349</issuerCik>
        <issuerName>GABELLI ASSET MANAGEMENT INC</issuerName>
        <issuerTradingSymbol>GBL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001301119</rptOwnerCik>
            <rptOwnerName>Heuberger Alan Cletus</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2365 CARILLON POINT</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>KIRKLAND</rptOwnerCity>
            <rptOwnerState>WA</rptOwnerState>
            <rptOwnerZipCode>98033</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Common Stock, Par Value $0.001</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <ownerSignature>
        <signatureName>/s/ Alan C. Heuberger</signatureName>
        <signatureDate>2004-08-20</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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