<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2004-12-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001052192</rptOwnerCik>
            <rptOwnerName>CASCADE INVESTMENT LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2365 CARILLON POINT</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>KIRKLAND</rptOwnerCity>
            <rptOwnerState>WA</rptOwnerState>
            <rptOwnerZipCode>98033</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000902012</rptOwnerCik>
            <rptOwnerName>GATES WILLIAM H III</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2365 CARILLON POINT</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>KIRKLAND</rptOwnerCity>
            <rptOwnerState>WA</rptOwnerState>
            <rptOwnerZipCode>98033</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Convertible Promissory Note</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>52</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2003-08-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionTotalValue>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionTotalValue>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2001-08-14</value>
            </exerciseDate>
            <expirationDate>
                <value>2011-08-14</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1923076</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1923076</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The Reporting Person holds a promissory note in principal amount of $100 million that was issued on August 14, 2001, which is convertible into shares of the Issuer's Class A Common Stock.  The Reporting Person has not acquired or disposed of any shares of the Issuer's Class A Common Stock since receiving the promissory note.  This Form 5 is being filed to report a change in the number of shares issuable upon conversion of the note as a result of an adjustment of the conversion price of the note from $53 to $52, which occurred on August 14, 2003, as a result of an amendment to the note purchase agreement.  The conversion price is subject to additional anti-dilution adjustment as set forth in the note, a copy of which is attached as Exhibit 4.2 to the Issuer's Form 10-Q for the quarter ended June 30, 2004, filed with the SEC on August 9, 2004.</footnote>
    </footnotes>

    <remarks>* Duly authorized under Special Power of Attorney appointing Michael Larson attorney-in-fact, dated February 4, 2005, by and behalf of William H. Gates III, filed as Exhibit 99.3 to Cascade Investment, L.L.C.'s Amendment No. 5 to Schedule 13G with respect to Canadian National Railway Company on February 11, 2005, SEC File No. 005-48661, and incorporated by reference herein.</remarks>

    <ownerSignature>
        <signatureName>Cascade Investment, L.L.C. By: /s/ Michael Larson; Name: Michael Larson; Title:  Business Manager</signatureName>
        <signatureDate>2005-02-11</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>WILLIAM H. GATES III By: /s/ Michael Larson; Name: Michael Larson*; Title: Attorney-in-Fact</signatureName>
        <signatureDate>2005-02-11</signatureDate>
    </ownerSignature>
</ownershipDocument>
