-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 YDnytGdR9i2PN+4Tu9uPZA==

<SEC-DOCUMENT>0000807249-04-000330.txt : 20040907
<SEC-HEADER>0000807249-04-000330.hdr.sgml : 20040906
<ACCEPTANCE-DATETIME>20040907110305
ACCESSION NUMBER:		0000807249-04-000330
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:			Van der Eb Henry
		CENTRAL INDEX KEY:			0001301449

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14761
		FILM NUMBER:		041018050

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		847-295-7454

	MAIL ADDRESS:	
		STREET 1:		100 CORPORATE NORTH
		STREET 2:		SUITE 201
		CITY:			BANNOCKBURN
		STATE:			IL
		ZIP:			60015

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>0001301449</rptOwnerCik>
            <rptOwnerName>Van der Eb Henry</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>100 CORPORATE NORTH</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 201</rptOwnerStreet2>
            <rptOwnerCity>BANNOCKBURN</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60015</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Senior Vice President</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>16</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2000-02-15</value>
            </exerciseDate>
            <expirationDate>
                <value>2010-02-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>31.62</value>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2001-02-20</value>
            </exerciseDate>
            <expirationDate>
                <value>2011-02-20</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>28.95</value>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2003-02-18</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-02-18</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>20000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The options become exercisable with respect to 75% of the shares on 2/15/2003 and with respect to the remaining 25% of the shares on 2/15/2004.</footnote>
        <footnote id="F2">The options become exercisable with respect to 75% of the shares on 2/20/2004 and with respect to the remaining 25% of the shares on 2/20/2005.</footnote>
        <footnote id="F3">The options become exercisable with respect to 75% of the shares on 2/18/2006 and with respect to the remaining 25% of the shares on 2/18/2007.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Henry Van der Eb</signatureName>
        <signatureDate>2004-08-26</signatureDate>
    </ownerSignature>
</ownershipDocument>

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