UHLMANN INVESTMENT MANAGEMENT, L.L.C.

Item 1 Uhlmann Investment Management, L.L.C. 5202 Old Orchard Road Suite 250 Skokie, IL 60077 312-264-4400 BROCHURE SUPPLEMENT FOR Maureen Mackowski Registered Investment Advisor Securities and Exchange Commission Form ADV Part 2B Dated October 15,2025 This brochure supplement provides information about Maureen Mackowski that supplements the Uhlmann Investment Management, L.L.C. brochure. You should have received a copy of that brochure. Please contact James Baer or Alan Konn, at the number above if you did not receive Uhlmann Investment Management, L.L.C.’s brochure or if you have any questions about the contents of this supplement. Registration does not imply a certain level of skill or training. Additional information about Maureen Mackowski is available on the SEC’s website at www.adviserinfo.sec.gov.  Maureen Mackowski Item 2 YOB 1956 Education: Pennsylvania State University, B.S. Economics Business Background: Uhlmann Price Investments Management Uhlmann Price Securities, LLC Purshe Kaplan Sterling Investments C2C Wealth Management Lincoln Financial Advisors Paine Weber Inc Dean Witter/Morgan Stanley 10/2025- Present 09/2022- Present 11/2016- Present 11/2016- 01/2024 02/2003-11/2016 07/2000- 02/2003 08/1977- 07/2000 Item 3 Disciplinary Information- Ms. Mackowski has no disciplinary information to report. Item 4 Outside Business Activity LS Biopath, Board Member. The company has developed and manufactures a medical device used it the treatment of breast cancer. Ms. Mackowski helps to manage cash flow for the company. Item 5 Additional Compensation- Ms. Mackowski has no additional compensation to report. Item 6 James Baer, designated principal of UIM supervises Ms. Mackowski by holding regular compliance meetings, reviewing client reports, emails and daily trading as well as the employee’s personal securities transactions and portfolio reports. Mr. Baer can be reached at 312-264-4343. Item 7 Ms Mackowski has never been involved in/with, or been accused nor found liable for any of the following: 1. An award or otherwise being found liable in an arbitration claim alleging damages in excess of $2,500, involving any of the following: (a) An investment or investment-related business or activity; (b) Fraud, false statement(s) or omissions; (c) Theft, embezzlement, or other wrongful taking of property; (d) Bribery, forgery, counterfeiting, or extortion; or (e) Dishonest, unfair, or unethical practices. 2. An award or otherwise being found liable in a civil, self-regulatory organization, or administrative proceeding involving any of the following: (a) An investment or investment-related business activity; (b) Fraud, false statement(s) or omissions; (c) Theft, embezzlement, or other wrongful taking of property; (d) Bribery, forgery, counterfeiting, or extortion; or (e) Dishonest, unfair, or unethical practices. Ms. Mackowski has not been the subject of a bankruptcy petition.