Maryland Capital Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
3M Company	COM	88579Y101	631	5,769	SH		SOLE		5,769	0	0
Abbott Laboratories	COM	002824100	13,018	373,231	SH		SOLE		373,231	0	0
AbbVie, Inc.	COM	00287Y109	1,068	25,825	SH		SOLE		25,825	0	0
Accenture PLC	COM	G1151C101	257	3,565	SH		SOLE		3,565	0	0
Actavis, Inc.	COM	00507K103	18,573	147,150	SH		SOLE		147,150	0	0
Aflac Inc.	COM	001055102	14,343	246,776	SH		SOLE		246,776	0	0
Alkane, Inc.	COM	01642L105	0	10,000	SH		SOLE		10,000	0	0
Altria Group Inc.	COM	02209S103	727	20,788	SH		SOLE		20,788	0	0
American Campus Communities	COM	024835100	405	9,970	SH		SOLE		9,970	0	0
American Express Co.	COM	025816109	364	4,870	SH		SOLE		4,870	0	0
Apple Inc.	COM	037833100	12,449	31,394	SH		SOLE		31,394	0	0
Aqua America Corp.	COM	03836W103	469	14,986	SH		SOLE		14,986	0	0
Arch Capital Group Ltd.	COM	G0450A105	200	3,900	SH		SOLE		3,900	0	0
Arthur J. Gallagher & Co.	COM	363576109	997	22,830	SH		SOLE		22,830	0	0
AT&T Inc.	COM	00206R102	4,916	138,883	SH		SOLE		138,883	0	0
Bank of America Corp.	COM	060505104	201	15,635	SH		SOLE		15,635	0	0
Bard (C.R.) Company, Inc.	COM	067383109	209	1,920	SH		SOLE		1,920	0	0
BB&T Corporation	COM	054937107	2,452	72,386	SH		SOLE		72,386	0	0
Berkshire Hathaway, Inc.- CL B	COM	084670702	2,811	25,112	SH		SOLE		25,112	0	0
Boardwalk Pipeline Partners, L	COM	096627104	516	17,080	SH		SOLE		17,080	0	0
Bristol Myers Squibb, Inc.	COM	110122108	1,169	26,163	SH		SOLE		26,163	0	0
Buckeye Partners UTS Limited P	COM	118230101	730	10,400	SH		SOLE		10,400	0	0
Catamaran Corporation	COM	148887102	17,648	361,935	SH		SOLE		361,935	0	0
Caterpillar Inc.	COM	149123101	610	7,394	SH		SOLE		7,394	0	0
CenturyLink, Inc.	COM	156700106	1,763	49,875	SH		SOLE		49,875	0	0
Chevron Corp.	COM	166764100	2,765	23,368	SH		SOLE		23,368	0	0
Chipotle Mexican Grill Inc.	COM	169656105	19,180	52,642	SH		SOLE		52,642	0	0
Cincinnati Financial Corporati	COM	172062101	983	21,415	SH		SOLE		21,415	0	0
Cisco Systems, Inc.	COM	17275R102	374	15,353	SH		SOLE		15,353	0	0
Coca-Cola Co.	COM	191216100	1,952	48,654	SH		SOLE		48,654	0	0
Colgate Palmolive Co.	COM	194162103	722	12,594	SH		SOLE		12,594	0	0
ConocoPhillips	COM	20825C104	4,626	76,458	SH		SOLE		76,458	0	0
Consolidated Edison Co., Inc.	COM	209115104	460	7,881	SH		SOLE		7,881	0	0
Corporate Office Properties Tr	COM	22002T108	3,299	129,390	SH		SOLE		129,390	0	0
Costco Wholesale Corp.	COM	22160K105	470	4,251	SH		SOLE		4,251	0	0
Covidien PLC - F	COM	G2554F113	207	3,301	SH		SOLE		3,301	0	0
Cummins Inc.	COM	231021106	9,534	87,902	SH		SOLE		87,902	0	0
CVS Caremark Corp.	COM	126650100	1,062	18,572	SH		SOLE		18,572	0	0
Danaher Corp.	COM	235851102	694	10,958	SH		SOLE		10,958	0	0
Deere & Co., Inc.	COM	244199105	10,544	129,778	SH		SOLE		129,778	0	0
Dominion Resources, Inc.	COM	25746U109	1,573	27,689	SH		SOLE		27,689	0	0
DTE Energy Co.	COM	233331107	201	3,000	SH		SOLE		3,000	0	0
Duke Energy Corp.	COM	26441C204	3,537	52,400	SH		SOLE		52,400	0	0
Dupont Co., Inc.	COM	263534109	2,216	42,203	SH		SOLE		42,203	0	0
eBay, Inc.	COM	278642103	10,561	204,201	SH		SOLE		204,201	0	0
Eli Lilly & Co.	COM	532457108	1,544	31,438	SH		SOLE		31,438	0	0
EMC Corp.	COM	268648102	219	9,275	SH		SOLE		9,275	0	0
Empire District Electric Co.	COM	291641108	357	16,000	SH		SOLE		16,000	0	0
Enbridge Energy Partners, LP	COM	29250R106	2,721	89,252	SH		SOLE		89,252	0	0
Enterprise Products Partners L	COM	293792107	2,024	32,559	SH		SOLE		32,559	0	0
Exelon Corporation	COM	30161N101	299	9,682	SH		SOLE		9,682	0	0
Express Scripts Holding Compan	COM	30219G108	24,579	398,107	SH		SOLE		398,107	0	0
Exxon Mobil Corp.	COM	30231G102	20,403	225,818	SH		SOLE		225,818	0	0
Federal Realty Investment Trus	COM	313747206	260	2,505	SH		SOLE		2,505	0	0
FelCor Lodging Trust Incorpora	COM	31430F101	59	10,000	SH		SOLE		10,000	0	0
Foot Locker Inc.	COM	344849104	256	7,280	SH		SOLE		7,280	0	0
Ford Motor Corp.	COM	345370860	450	29,108	SH		SOLE		29,108	0	0
Frontier Communications	COM	35906A108	76	18,751	SH		SOLE		18,751	0	0
General Electric Co., Inc.	COM	369604103	16,903	728,903	SH		SOLE		728,903	0	0
GlaxoSmithKline PLC	COM	37733W105	234	4,674	SH		SOLE		4,674	0	0
Glimcher Realty Trust REIT	COM	379302102	109	10,000	SH		SOLE		10,000	0	0
Google Inc.	COM	38259P508	12,399	14,084	SH		SOLE		14,084	0	0
HCP, Inc.	COM	40414L109	3,913	86,120	SH		SOLE		86,120	0	0
Health Care Reit Inc.	COM	42217K106	5,571	83,118	SH		SOLE		83,118	0	0
Healthcare Realty Trust Inc.	COM	421946104	347	13,625	SH		SOLE		13,625	0	0
Home Depot, Inc.	COM	437076102	1,348	17,402	SH		SOLE		17,402	0	0
Home Properties, Inc.	COM	437306103	1,159	17,735	SH		SOLE		17,735	0	0
Intel Corp.	COM	458140100	12,240	505,142	SH		SOLE		505,142	0	0
Intl Business Machines, Corp.	COM	459200101	2,316	12,120	SH		SOLE		12,120	0	0
Intuitive Surgical Inc.	COM	46120E602	310	612	SH		SOLE		612	0	0
J P Morgan Chase & Co.	COM	46625H100	1,516	28,716	SH		SOLE		28,716	0	0
Johnson & Johnson	COM	478160104	3,189	37,138	SH		SOLE		37,138	0	0
Kimberly Clark Corp.	COM	494368103	1,124	11,575	SH		SOLE		11,575	0	0
Kinder Morgan Energy Unit LTD	COM	494550106	3,993	46,757	SH		SOLE		46,757	0	0
Kinder Morgan Inc.	COM	49456B101	851	22,295	SH		SOLE		22,295	0	0
Kraft Foods Group	COM	50076Q106	260	4,655	SH		SOLE		4,655	0	0
Las Vegas Sands Corp.	COM	517834107	11,561	218,430	SH		SOLE		218,430	0	0
Lockheed Martin Corp. Inc.	COM	539830109	209	1,924	SH		SOLE		1,924	0	0
Lowes Companies, Inc.	COM	548661107	475	11,615	SH		SOLE		11,615	0	0
M & T Bank Corp.	COM	55261F104	12,009	107,467	SH		SOLE		107,467	0	0
Marathon Oil Corp.	COM	565849106	268	7,741	SH		SOLE		7,741	0	0
Marathon Petroleum Corporation	COM	56585A102	252	3,540	SH		SOLE		3,540	0	0
Mastercard Incorporated	COM	57636Q104	11,047	19,229	SH		SOLE		19,229	0	0
McCormick & Co., Inc. - Voting	COM	579780107	7,347	104,217	SH		SOLE		104,217	0	0
McCormick & Company, Inc.	COM	579780206	4,433	63,006	SH		SOLE		63,006	0	0
McDonald's Corp., Inc.	COM	580135101	1,543	15,582	SH		SOLE		15,582	0	0
Medtronic, Inc.	COM	585055106	795	15,447	SH		SOLE		15,447	0	0
Merck & Co., Inc.	COM	58933Y105	1,397	30,074	SH		SOLE		30,074	0	0
Microsoft Corp.	COM	594918104	13,359	386,716	SH		SOLE		386,716	0	0
Mondelez Int'l. Inc.	COM	609207105	297	10,418	SH		SOLE		10,418	0	0
NextEra Energy	COM	65339F101	1,055	12,945	SH		SOLE		12,945	0	0
NII Holdings Inc.	COM	62913F201	201	30,200	SH		SOLE		30,200	0	0
Occidental Petroleum Corp., In	COM	674599105	270	3,025	SH		SOLE		3,025	0	0
Oceaneering Intl Inc.	COM	675232102	296	4,100	SH		SOLE		4,100	0	0
Omega Healthcare Invs REIT	COM	681936100	989	31,875	SH		SOLE		31,875	0	0
Oracle Corp.	COM	68389X105	421	13,725	SH		SOLE		13,725	0	0
Paychex, Inc.	COM	704326107	219	6,000	SH		SOLE		6,000	0	0
Penn Virginia Resources Partne	COM	693665101	219	8,015	SH		SOLE		8,015	0	0
Pepco Holdings	COM	713291102	756	37,503	SH		SOLE		37,503	0	0
Pepsico, Inc.	COM	713448108	13,941	170,447	SH		SOLE		170,447	0	0
Pfizer, Inc.	COM	717081103	2,812	100,400	SH		SOLE		100,400	0	0
Philip Morris International In	COM	718172109	1,180	13,619	SH		SOLE		13,619	0	0
Phillips 66	COM	718546104	309	5,243	SH		SOLE		5,243	0	0
Plum Creek Timber Co. REIT	COM	729251108	505	10,825	SH		SOLE		10,825	0	0
PPL Corporation	COM	69351T106	1,665	55,033	SH		SOLE		55,033	0	0
Procter & Gamble, Co.	COM	742718109	13,700	177,945	SH		SOLE		177,945	0	0
Prologis REIT	COM	74340W103	221	5,849	SH		SOLE		5,849	0	0
Qualcomm, Inc.	COM	747525103	10,845	177,531	SH		SOLE		177,531	0	0
Rock-Tenn Company-CL A	COM	772739207	1,192	11,931	SH		SOLE		11,931	0	0
Royal Dutch Shell	COM	780259206	343	5,380	SH		SOLE		5,380	0	0
Sandy Spring Bancorp, Inc.	COM	800363103	398	18,400	SH		SOLE		18,400	0	0
Schlumberger Inc.	COM	806857108	769	10,729	SH		SOLE		10,729	0	0
Simon Property Group	COM	828806109	325	2,058	SH		SOLE		2,058	0	0
Southern Company, Inc.	COM	842587107	1,631	36,955	SH		SOLE		36,955	0	0
Suburban Propane Partners, L.P	COM	864482104	921	19,825	SH		SOLE		19,825	0	0
T J X Cos Inc.	COM	872540109	223	4,450	SH		SOLE		4,450	0	0
T.Rowe Price Group, Inc.	COM	74144T108	1,219	16,652	SH		SOLE		16,652	0	0
Target Corp.	COM	87612E106	217	3,150	SH		SOLE		3,150	0	0
Time Warner Cable	COM	88732J207	632	5,617	SH		SOLE		5,617	0	0
Time Warner Inc.	COM	887317303	1,425	24,641	SH		SOLE		24,641	0	0
U S Bancorp.	COM	902973304	360	9,967	SH		SOLE		9,967	0	0
Under Armour, Inc.	COM	904311107	13,647	228,549	SH		SOLE		228,549	0	0
United Therapeutics Corp.	COM	91307C102	7,371	111,980	SH		SOLE		111,980	0	0
Universal Health Realty Income	COM	91359E105	350	8,120	SH		SOLE		8,120	0	0
V.F. Corporation	COM	918204108	18,647	96,587	SH		SOLE		96,587	0	0
Ventas, Inc.	COM	92276F100	983	14,156	SH		SOLE		14,156	0	0
Verizon Communications	COM	92343V104	5,024	99,805	SH		SOLE		99,805	0	0
W.W. Grainger, Inc.	COM	384802104	221	875	SH		SOLE		875	0	0
Wal-Mart Company, Inc.	COM	931142103	950	12,758	SH		SOLE		12,758	0	0
Walt Disney Company, Inc.	COM	254687106	395	6,262	SH		SOLE		6,262	0	0
Washington REIT	COM	939653101	4,356	161,882	SH		SOLE		161,882	0	0
Weingarten Realty Investors	COM	948741103	427	13,875	SH		SOLE		13,875	0	0
Wells Fargo Inc.	COM	949746101	1,113	26,975	SH		SOLE		26,975	0	0
Westar Energy, Inc.	COM	95709T100	209	6,555	SH		SOLE		6,555	0	0
WGL Holdings, Inc.	COM	92924F106	455	10,526	SH		SOLE		10,526	0	0
Whole Foods Market, Inc.	COM	966837106	471	9,145	SH		SOLE		9,145	0	0
Yum Brands, Inc.	COM	988498101	12,560	181,129	SH		SOLE		181,129	0	0
Aegon NV 7.25% PFD	PFD	N00927348	555	22,100	SH		SOLE		22,100	0	0
BG&E Cap Trust II 6.20% Prefer	PFD	05541Q206	2,265	89,510	SH		SOLE		89,510	0	0
Goldman Sachs- Series B Pfd. 6	PFD	38141GCM4	260	10,400	SH		SOLE		10,400	0	0
Goldman Sachs Group, Inc. 6.12	PFD	38145X111	1,595	62,690	SH		SOLE		62,690	0	0
Hospitality Properties Trust-	PFD	44106M607	324	12,695	SH		SOLE		12,695	0	0
JP Morgan Chase 6.70% due 4/2/	PFD	48125E207	1,249	49,265	SH		SOLE		49,265	0	0
Kimco Realty 6.90% PFD	PFD	49446R828	266	10,450	SH		SOLE		10,450	0	0
Metlife Inc. 6.5% Pfd Non-cumu	PFD	59156R603	1,833	72,525	SH		SOLE		72,525	0	0
Partnerre Ltd. 6.5% Perpetual	PFD	G68603409	851	33,805	SH		SOLE		33,805	0	0
Qwest Corporation 7.50% Notes	PFD	74913G303	293	11,000	SH		SOLE		11,000	0	0
AGIC Conv & Income Fund	ETF	018828103	650	70,850	SH		SOLE		70,850	0	0
Alerian MLP ETF	ETF	00162Q866	6,703	375,501	SH		SOLE		375,501	0	0
Alliance Bernstein Global High	ETF	01879R106	1,293	86,020	SH		SOLE		86,020	0	0
BlackRock Corporate High Yield	ETF	09255P107	316	26,400	SH		SOLE		26,400	0	0
Calamos Cnv High Income Fund	ETF	12811P108	345	27,850	SH		SOLE		27,850	0	0
Calamos Conv Opportunity Fund	ETF	128117108	1,899	150,620	SH		SOLE		150,620	0	0
ClearBridge Energy MLP Fund In	ETF	184692101	265	9,400	SH		SOLE		9,400	0	0
Diamonds Trust Series	ETF	78467X109	417	2,810	SH		SOLE		2,810	0	0
Eaton Vance Income Fund of Bos	ETF	277907101	580	98,239	SH		SOLE		98,239	0	0
Global X FTSE Greece 20 ETF	ETF	37950E366	298	19,200	SH		SOLE		19,200	0	0
Global X SuperDividend ETF	ETF	37950E549	705	32,925	SH		SOLE		32,925	0	0
iPath Dow Jones-AIG Commodity	ETF	06738C778	1,196	32,785	SH		SOLE		32,785	0	0
iPath MSCI India Index (ETN)	ETF	06739F291	237	4,425	SH		SOLE		4,425	0	0
iShares Dow Jones U.S. Healthc	ETF	464287762	342	3,414	SH		SOLE		3,414	0	0
iShares Dow Jones US Consumer	ETF	464287812	332	3,824	SH		SOLE		3,824	0	0
iShares FTSE/Xinhua China 25 I	ETF	464287184	827	25,420	SH		SOLE		25,420	0	0
iShares iBoxx $ Invest Grade C	ETF	464287242	919	8,084	SH		SOLE		8,084	0	0
iShares Inc. MSCI Turkey Fund	ETF	464286715	490	8,255	SH		SOLE		8,255	0	0
iShares JPMorgan USD Emer Mkt	ETF	464288281	384	3,504	SH		SOLE		3,504	0	0
iShares Mexico Index Fund	ETF	464286822	235	3,600	SH		SOLE		3,600	0	0
iShares MSCI ACWI ex US Consum	ETF	464289628	333	4,595	SH		SOLE		4,595	0	0
iShares MSCI ACWI ex US Health	ETF	464289552	291	4,042	SH		SOLE		4,042	0	0
iShares MSCI BRIC Index	ETF	464286657	691	20,290	SH		SOLE		20,290	0	0
iShares MSCI EAFE Index Fund	ETF	464287465	3,474	60,625	SH		SOLE		60,625	0	0
iShares MSCI Emerging Markets	ETF	464287234	1,344	34,920	SH		SOLE		34,920	0	0
iShares MSCI Hong Kong Index F	ETF	464286871	316	17,235	SH		SOLE		17,235	0	0
iShares MSCI Japan Index Fund	ETF	464286848	116	10,325	SH		SOLE		10,325	0	0
iShares MSCI Sweden Index (ETF	ETF	464286756	488	16,375	SH		SOLE		16,375	0	0
iShares MSCI Thai Index Fund	ETF	464286624	540	6,885	SH		SOLE		6,885	0	0
iShares Russell 1000 Growth	ETF	464287614	851	11,700	SH		SOLE		11,700	0	0
iShares Russell 1000 Value	ETF	464287598	200	2,390	SH		SOLE		2,390	0	0
iShares Russell 2000 Index Fun	ETF	464287655	4,141	42,688	SH		SOLE		42,688	0	0
iShares Russell MidCap Index F	ETF	464287499	751	5,781	SH		SOLE		5,781	0	0
iShares Russell Midcap Value I	ETF	464287473	695	12,000	SH		SOLE		12,000	0	0
iShares TR Barclays Aggregate	ETF	464287226	1,197	11,163	SH		SOLE		11,163	0	0
iShares Tr Dow Jones RE US Rea	ETF	464287739	719	10,825	SH		SOLE		10,825	0	0
iShares Trust FTSE EPRA NAREIT	ETF	464288489	516	16,474	SH		SOLE		16,474	0	0
iShares Trust Iboxx $ High Yie	ETF	464288513	4,895	53,862	SH		SOLE		53,862	0	0
iShares Trust Russell 2000 Gro	ETF	464287648	648	5,810	SH		SOLE		5,810	0	0
iShares Trust S&P 500 Index	ETF	464287200	6,380	39,656	SH		SOLE		39,656	0	0
Kayne Anderson Energy Total Re	ETF	48660P104	227	7,600	SH		SOLE		7,600	0	0
Kayne Anderson MLP Investment	ETF	486606106	1,034	26,590	SH		SOLE		26,590	0	0
Laudus Mondrian Emerging Marke	ETF	51855Q622	112	12,753	SH		SOLE		12,753	0	0
MFS Charter Income Trust	ETF	552727109	92	10,000	SH		SOLE		10,000	0	0
Natixis Gateway Y	ETF	367829884	3,019	108,243	SH		SOLE		108,243	0	0
New America High Income Fund I	ETF	641876800	109	10,883	SH		SOLE		10,883	0	0
Nicholas-Applegate Conv. Incom	ETF	018825109	275	32,625	SH		SOLE		32,625	0	0
Nuveen Equity Premier Income F	ETF	6706ER101	181	14,400	SH		SOLE		14,400	0	0
Nuveen Equity Premier Oppty Fu	ETF	6706EM102	172	13,900	SH		SOLE		13,900	0	0
Nuveen MD Prem Income Muni Fun	ETF	67061Q107	242	18,067	SH		SOLE		18,067	0	0
Oakseed Opportunity Institutio	ETF	46141P206	177	15,861	SH		SOLE		15,861	0	0
Pimco Corporate Oppty Fund	ETF	72201B101	1,977	101,140	SH		SOLE		101,140	0	0
Powershares India ETF	ETF	73935L100	598	36,150	SH		SOLE		36,150	0	0
RidgeWorth US Gov. Sec. Ultra-	ETF	76628T439	299	29,556	SH		SOLE		29,556	0	0
Schwab Value Advantage Money F	ETF	808515605	671	670,672	SH		SOLE		670,672	0	0
Shares MSCI Switzerland Index	ETF	464286749	613	21,400	SH		SOLE		21,400	0	0
SPDR DJ Wilshire REIT ETF	ETF	78464A607	2,556	33,657	SH		SOLE		33,657	0	0
SPDR Gold Trust ETF	ETF	78463V107	213	1,785	SH		SOLE		1,785	0	0
T Rowe Price Maryland Tax Free	ETF	77957R101	597	56,410	SH		SOLE		56,410	0	0
T. Rowe Price New Asia Fund	ETF	77956H500	316	19,907	SH		SOLE		19,907	0	0
Vanguard Consumer Discretionar	ETF	92204A108	412	4,517	SH		SOLE		4,517	0	0
Vanguard GNMA Fund Admiral Sha	ETF	922031794	1,301	124,176	SH		SOLE		124,176	0	0
Vanguard GNMA Fund Investor Sh	ETF	922031307	386	36,834	SH		SOLE		36,834	0	0
Vanguard Index Trust 500	ETF	922908108	214	1,445	SH		SOLE		1,445	0	0
Vanguard Large Cap	ETF	922908637	652	8,879	SH		SOLE		8,879	0	0
Vanguard LT Investment Grade A	ETF	922031778	218	22,088	SH		SOLE		22,088	0	0
Vanguard Mid Cap ETF	ETF	922908629	2,488	26,151	SH		SOLE		26,151	0	0
Vanguard MSCI EAFE ETF	ETF	921943858	2,302	64,652	SH		SOLE		64,652	0	0
Vanguard MSCI Emerging Markets	ETF	922042858	3,018	77,787	SH		SOLE		77,787	0	0
Vanguard REIT ETF	ETF	922908553	4,764	69,323	SH		SOLE		69,323	0	0
Vanguard S&P 500 (ETF)	ETF	922908413	227	3,095	SH		SOLE		3,095	0	0
Vanguard Short Term Tax Exempt	ETF	922907803	201	12,695	SH		SOLE		12,695	0	0
Vanguard Small Cap ETF	ETF	922908751	4,123	44,000	SH		SOLE		44,000	0	0
Western Asst High Incm Opprtnt	ETF	95766K109	356	60,000	SH		SOLE		60,000	0	0
WT Municipal Bond Common Fund	ETF	625993AB6	155	14,530	SH		SOLE		14,530	0	0