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
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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	607	4,477	SH		SOLE		4,477	0	0
Abbott Laboratories	COM	002824100	13,367	347,106	SH		SOLE		347,106	0	0
AbbVie, Inc.	COM	00287Y109	1,003	19,505	SH		SOLE		19,505	0	0
Accenture PLC	COM	G1151C101	275	3,450	SH		SOLE		3,450	0	0
Actavis PLC	COM	G0083B108	21,884	106,310	SH		SOLE		106,310	0	0
AFLAC Inc.	COM	001055102	13,351	211,779	SH		SOLE		211,779	0	0
Alkane, Inc.	COM	01642L105	0	10,000	SH		SOLE		10,000	0	0
Allergan, Inc.	COM	018490102	288	2,320	SH		SOLE		2,320	0	0
Altria Group Inc.	COM	02209S103	1,161	31,029	SH		SOLE		31,029	0	0
Amazon.com Inc.	COM	023135106	334	993	SH		SOLE		993	0	0
American Express Co.	COM	025816109	474	5,260	SH		SOLE		5,260	0	0
Apple Inc.	COM	037833100	13,318	24,813	SH		SOLE		24,813	0	0
Aqua America Corp.	COM	03836W103	470	18,732	SH		SOLE		18,732	0	0
Arch Capital Group Ltd.	COM	G0450A105	224	3,900	SH		SOLE		3,900	0	0
Arthur J. Gallagher & Co.	COM	363576109	1,057	22,215	SH		SOLE		22,215	0	0
AT&T, Inc.	COM	00206R102	5,898	168,173	SH		SOLE		168,173	0	0
Automatic Data Processing, Inc	COM	053015103	202	2,612	SH		SOLE		2,612	0	0
Bank of America Corp.	COM	060505104	362	21,052	SH		SOLE		21,052	0	0
Bard (C.R.) Company, Inc.	COM	067383109	284	1,920	SH		SOLE		1,920	0	0
BB&T Corporation	COM	054937107	2,775	69,080	SH		SOLE		69,080	0	0
Berkshire Hathaway, Inc.- CL B	COM	084670702	2,825	22,604	SH		SOLE		22,604	0	0
Bristol Myers Squibb, Inc.	COM	110122108	1,554	29,913	SH		SOLE		29,913	0	0
Buckeye Partners UTS Limited P	COM	118230101	250	3,335	SH		SOLE		3,335	0	0
Canadian National RY Co.	COM	136375102	225	4,000	SH		SOLE		4,000	0	0
Cannabis Science Inc	COM	137648101	6	36,000	SH		SOLE		36,000	0	0
Catamaran Corporation	COM	148887102	13,089	292,434	SH		SOLE		292,434	0	0
Caterpillar Inc.	COM	149123101	214	2,155	SH		SOLE		2,155	0	0
Chevron Corp.	COM	166764100	2,100	17,657	SH		SOLE		17,657	0	0
Chipotle Mexican Grill Inc.	COM	169656105	18,387	32,369	SH		SOLE		32,369	0	0
Cincinnati Financial Corporati	COM	172062101	1,044	21,450	SH		SOLE		21,450	0	0
Cisco Systems, Inc.	COM	17275R102	289	12,900	SH		SOLE		12,900	0	0
Coca-Cola Co.	COM	191216100	1,253	32,418	SH		SOLE		32,418	0	0
Colgate Palmolive Co.	COM	194162103	280	4,314	SH		SOLE		4,314	0	0
ConocoPhillips	COM	20825C104	6,180	87,847	SH		SOLE		87,847	0	0
Consolidated Edison Co., Inc.	COM	209115104	518	9,651	SH		SOLE		9,651	0	0
Corporate Office Properties Tr	COM	22002T108	2,700	101,340	SH		SOLE		101,340	0	0
Costco Wholesale Corp.	COM	22160K105	239	2,140	SH		SOLE		2,140	0	0
Cummins Inc.	COM	231021106	12,354	82,918	SH		SOLE		82,918	0	0
CVS Caremark Corp.	COM	126650100	696	9,303	SH		SOLE		9,303	0	0
Danaher Corp.	COM	235851102	664	8,850	SH		SOLE		8,850	0	0
Dominion Resources, Inc.	COM	25746U109	1,060	14,938	SH		SOLE		14,938	0	0
Dow Chemical Co., Inc.	COM	260543103	232	4,767	SH		SOLE		4,767	0	0
Du Pont (E.I.) De Nemours & Co	COM	263534109	2,934	43,731	SH		SOLE		43,731	0	0
Duke Energy Corporation	COM	26441C204	3,564	50,036	SH		SOLE		50,036	0	0
eBay, Inc.	COM	278642103	11,074	200,471	SH		SOLE		200,471	0	0
Eli Lilly & Co.	COM	532457108	2,207	37,498	SH		SOLE		37,498	0	0
EMC Corp.	COM	268648102	258	9,415	SH		SOLE		9,415	0	0
Enbridge Energy Partners, LP	COM	29250R106	588	21,455	SH		SOLE		21,455	0	0
Enterprise Products Partners L	COM	293792107	2,371	34,179	SH		SOLE		34,179	0	0
Express Scripts Holding Compan	COM	30219G108	17,067	227,282	SH		SOLE		227,282	0	0
Exxon Mobil Corp.	COM	30231G102	17,510	179,257	SH		SOLE		179,257	0	0
Federal Realty Investment Trus	COM	313747206	264	2,305	SH		SOLE		2,305	0	0
FelCor Lodging Trust Incorpora	COM	31430F101	108	12,000	SH		SOLE		12,000	0	0
Ford Motor Corp.	COM	345370860	526	33,727	SH		SOLE		33,727	0	0
General Electric Company	COM	369604103	16,211	626,145	SH		SOLE		626,145	0	0
Google Inc.	COM	38259P706	14,143	12,690	SH		SOLE		12,690	0	0
HCP, Inc.	COM	40414L109	1,349	34,780	SH		SOLE		34,780	0	0
Health Care Reit Inc.	COM	42217K106	2,926	49,093	SH		SOLE		49,093	0	0
Home Depot, Inc.	COM	437076102	1,627	20,562	SH		SOLE		20,562	0	0
Hospitality Properties Trust	COM	44106M102	246	8,575	SH		SOLE		8,575	0	0
Illinois Tool Works, Inc.	COM	452308109	208	2,560	SH		SOLE		2,560	0	0
Intel Corporation	COM	458140100	11,509	445,837	SH		SOLE		445,837	0	0
Intl Business Machines, Corp.	COM	459200101	2,141	11,122	SH		SOLE		11,122	0	0
J P Morgan Chase & Co.	COM	46625H100	1,653	27,220	SH		SOLE		27,220	0	0
Johnson & Johnson	COM	478160104	2,463	25,074	SH		SOLE		25,074	0	0
Kimberly Clark Corp.	COM	494368103	1,411	12,795	SH		SOLE		12,795	0	0
Kinder Morgan Energy Partners,	COM	494550106	1,897	25,654	SH		SOLE		25,654	0	0
Las Vegas Sands Corp.	COM	517834107	13,939	172,553	SH		SOLE		172,553	0	0
Lockheed Martin Corp. Inc.	COM	539830109	337	2,065	SH		SOLE		2,065	0	0
Lowes Companies, Inc.	COM	548661107	568	11,625	SH		SOLE		11,625	0	0
Marathon Oil Corp.	COM	565849106	270	7,591	SH		SOLE		7,591	0	0
Marathon Petroleum Corporation	COM	56585A102	308	3,540	SH		SOLE		3,540	0	0
MasterCard Incorporated	COM	57636Q104	14,311	191,580	SH		SOLE		191,580	0	0
McCormick & Co., Inc. - Voting	COM	579780107	3,680	51,433	SH		SOLE		51,433	0	0
McCormick & Company, Inc.	COM	579780206	793	11,050	SH		SOLE		11,050	0	0
McDonald's Corp., Inc.	COM	580135101	1,194	12,183	SH		SOLE		12,183	0	0
Medtronic, Inc.	COM	585055106	951	15,447	SH		SOLE		15,447	0	0
Merck & Co., Inc.	COM	58933Y105	1,750	30,820	SH		SOLE		30,820	0	0
Microsoft Corporation	COM	594918104	13,542	330,372	SH		SOLE		330,372	0	0
NextEra Energy	COM	65339F101	507	5,300	SH		SOLE		5,300	0	0
NII Holdings Inc.	COM	62913F201	48	40,200	SH		SOLE		40,200	0	0
Occidental Petroleum Corp., In	COM	674599105	349	3,660	SH		SOLE		3,660	0	0
Omega Healthcare Invs REIT	COM	681936100	315	9,410	SH		SOLE		9,410	0	0
Oracle Corp.	COM	68389X105	591	14,445	SH		SOLE		14,445	0	0
Pepco Holdings	COM	713291102	1,295	63,218	SH		SOLE		63,218	0	0
Pepsico, Inc.	COM	713448108	13,104	156,938	SH		SOLE		156,938	0	0
Pfizer, Inc.	COM	717081103	1,944	60,528	SH		SOLE		60,528	0	0
Philip Morris International In	COM	718172109	1,469	17,937	SH		SOLE		17,937	0	0
Phillips 66	COM	718546104	419	5,441	SH		SOLE		5,441	0	0
Plains All American Pipeline L	COM	726503105	382	6,936	SH		SOLE		6,936	0	0
Plum Creek Timber Co. REIT	COM	729251108	215	5,120	SH		SOLE		5,120	0	0
PPL Corporation	COM	69351T106	2,082	62,822	SH		SOLE		62,822	0	0
Qualcomm, Inc.	COM	747525103	11,912	151,050	SH		SOLE		151,050	0	0
Regency Energy Partners LP	COM	75885Y107	279	10,232	SH		SOLE		10,232	0	0
Rock-Tenn Company-CL A	COM	772739207	1,208	11,442	SH		SOLE		11,442	0	0
Royal Dutch Shell	COM	780259206	320	4,380	SH		SOLE		4,380	0	0
Sandy Spring Bancorp, Inc.	COM	800363103	460	18,400	SH		SOLE		18,400	0	0
Schlumberger Inc.	COM	806857108	319	3,276	SH		SOLE		3,276	0	0
Simon Property Group	COM	828806109	300	1,828	SH		SOLE		1,828	0	0
Southern Company, Inc.	COM	842587107	1,961	44,633	SH		SOLE		44,633	0	0
Suburban Propane Partners, L.P	COM	864482104	919	22,120	SH		SOLE		22,120	0	0
T J X Cos Inc.	COM	872540109	263	4,329	SH		SOLE		4,329	0	0
T.Rowe Price Group, Inc.	COM	74144T108	12,281	149,127	SH		SOLE		149,127	0	0
Target Corp.	COM	87612E106	203	3,350	SH		SOLE		3,350	0	0
The Procter & Gamble Company	COM	742718109	13,200	163,769	SH		SOLE		163,769	0	0
U S Bancorp.	COM	902973304	427	9,967	SH		SOLE		9,967	0	0
Under Armour, Inc.	COM	904311107	19,157	167,106	SH		SOLE		167,106	0	0
United Technologies, Inc.	COM	913017109	361	3,089	SH		SOLE		3,089	0	0
United Therapeutics Corp.	COM	91307C102	12,873	136,899	SH		SOLE		136,899	0	0
V.F. Corporation	COM	918204108	18,635	301,141	SH		SOLE		301,141	0	0
Verizon Communications Inc.	COM	92343V104	5,288	111,166	SH		SOLE		111,166	0	0
W.W. Grainger, Inc.	COM	384802104	221	875	SH		SOLE		875	0	0
Wal-Mart Company, Inc.	COM	931142103	874	11,436	SH		SOLE		11,436	0	0
Walt Disney Company, Inc.	COM	254687106	469	5,862	SH		SOLE		5,862	0	0
Washington REIT	COM	939653101	2,239	93,781	SH		SOLE		93,781	0	0
Wells Fargo Inc.	COM	949746101	1,158	23,280	SH		SOLE		23,280	0	0
WGL Holdings, Inc.	COM	92924F106	390	9,726	SH		SOLE		9,726	0	0
Whole Foods Market, Inc.	COM	966837106	10,439	205,855	SH		SOLE		205,855	0	0
Yahoo, Inc.	COM	984332106	230	6,400	SH		SOLE		6,400	0	0
Yum! Brands, Inc.	COM	988498101	13,100	173,761	SH		SOLE		173,761	0	0
Aegon NV 7.25% PFD	PFD	N00927348	535	20,700	SH		SOLE		20,700	0	0
BG&E Cap Trust II 6.20% Prefer	PFD	05541Q206	1,837	73,025	SH		SOLE		73,025	0	0
Goldman Sachs- Series B Pfd. 6	PFD	38141GCM4	256	10,400	SH		SOLE		10,400	0	0
Goldman Sachs Group, Inc. 6.12	PFD	38145X111	1,590	62,120	SH		SOLE		62,120	0	0
Hospitality Properties Trust-	COM	44106M607	224	8,820	SH		SOLE		8,820	0	0
JP Morgan Chase 6.70% due 4/2/	PFD	48125E207	1,128	44,010	SH		SOLE		44,010	0	0
Metlife Inc. 6.5% Pfd Non-cumu	PFD	59156R603	1,556	61,855	SH		SOLE		61,855	0	0
Partnerre Ltd. 6.5% Perpetual	PFD	G68603409	567	22,780	SH		SOLE		22,780	0	0
Apple Inc. Call @ $450, Exp. 0	OPTION	A1715C450	951	100	SH		SOLE		100	0	0