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	641	4,477	SH		SOLE		4,477	0	0
Abbott Laboratories	COM	002824100	14,547	355,676	SH		SOLE		355,676	0	0
AbbVie, Inc.	COM	00287Y109	1,077	19,085	SH		SOLE		19,085	0	0
Accenture PLC	COM	G1151C101	281	3,471	SH		SOLE		3,471	0	0
Actavis PLC	COM	G0083B108	23,359	104,726	SH		SOLE		104,726	0	0
AFLAC Inc.	COM	001055102	13,420	215,577	SH		SOLE		215,577	0	0
Alkane, Inc.	COM	01642L105	0	10,000	SH		SOLE		10,000	0	0
Allergan, Inc.	COM	018490102	340	2,010	SH		SOLE		2,010	0	0
Altria Group Inc.	COM	02209S103	1,321	31,498	SH		SOLE		31,498	0	0
Amazon.com Inc.	COM	023135106	375	1,156	SH		SOLE		1,156	0	0
American Express Co.	COM	025816109	490	5,160	SH		SOLE		5,160	0	0
Apache Corp.	COM	037411105	382	3,800	SH		SOLE		3,800	0	0
Apple Inc.	COM	037833100	16,221	174,555	SH		SOLE		174,555	0	0
Aqua America Corp.	COM	03836W103	491	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	1,005	21,570	SH		SOLE		21,570	0	0
AT&T, Inc.	COM	00206R102	6,236	176,348	SH		SOLE		176,348	0	0
Bank of America Corp.	COM	060505104	287	18,661	SH		SOLE		18,661	0	0
Bard (C.R.) Company, Inc.	COM	067383109	287	2,010	SH		SOLE		2,010	0	0
BB&T Corporation	COM	054937107	2,572	65,230	SH		SOLE		65,230	0	0
Berkshire Hathaway, Inc.- CL B	COM	084670702	2,861	22,604	SH		SOLE		22,604	0	0
Bristol Myers Squibb, Inc.	COM	110122108	1,437	29,628	SH		SOLE		29,628	0	0
Buckeye Partners UTS Limited P	COM	118230101	277	3,335	SH		SOLE		3,335	0	0
Canadian National RY Co.	COM	136375102	260	4,000	SH		SOLE		4,000	0	0
Cannabis Science Inc	COM	137648101	4	36,000	SH		SOLE		36,000	0	0
Catamaran Corporation	COM	148887102	13,643	308,944	SH		SOLE		308,944	0	0
Caterpillar Inc.	COM	149123101	560	5,155	SH		SOLE		5,155	0	0
Chevron Corp.	COM	166764100	2,557	19,589	SH		SOLE		19,589	0	0
Chipotle Mexican Grill Inc.	COM	169656105	19,498	32,907	SH		SOLE		32,907	0	0
Cincinnati Financial Corporati	COM	172062101	1,023	21,290	SH		SOLE		21,290	0	0
Cisco Systems, Inc.	COM	17275R102	385	15,475	SH		SOLE		15,475	0	0
Coca-Cola Co.	COM	191216100	1,247	29,427	SH		SOLE		29,427	0	0
Colgate Palmolive Co.	COM	194162103	311	4,562	SH		SOLE		4,562	0	0
ConocoPhillips	COM	20825C104	7,687	89,667	SH		SOLE		89,667	0	0
Consolidated Edison Co., Inc.	COM	209115104	886	15,349	SH		SOLE		15,349	0	0
Corporate Office Properties Tr	COM	22002T108	2,642	95,005	SH		SOLE		95,005	0	0
Costco Wholesale Corp.	COM	22160K105	246	2,140	SH		SOLE		2,140	0	0
Cummins Inc.	COM	231021106	13,087	84,821	SH		SOLE		84,821	0	0
CVS Caremark Corp.	COM	126650100	695	9,222	SH		SOLE		9,222	0	0
Danaher Corp.	COM	235851102	697	8,850	SH		SOLE		8,850	0	0
Deere & Co., Inc.	COM	244199105	244	2,700	SH		SOLE		2,700	0	0
Dominion Resources, Inc.	COM	25746U109	991	13,855	SH		SOLE		13,855	0	0
Dow Chemical Co., Inc.	COM	260543103	245	4,767	SH		SOLE		4,767	0	0
Du Pont (E.I.) De Nemours & Co	COM	263534109	2,763	42,220	SH		SOLE		42,220	0	0
Duke Energy Corporation	COM	26441C204	3,679	49,583	SH		SOLE		49,583	0	0
eBay, Inc.	COM	278642103	10,712	213,993	SH		SOLE		213,993	0	0
Eli Lilly & Co.	COM	532457108	2,415	38,848	SH		SOLE		38,848	0	0
EMC Corp.	COM	268648102	222	8,425	SH		SOLE		8,425	0	0
Enbridge Energy Partners, LP	COM	29250R106	755	20,455	SH		SOLE		20,455	0	0
Enterprise Products Partners L	COM	293792107	2,127	27,166	SH		SOLE		27,166	0	0
Express Scripts Holding Compan	COM	30219G108	16,236	234,187	SH		SOLE		234,187	0	0
Exxon Mobil Corp.	COM	30231G102	8,219	81,636	SH		SOLE		81,636	0	0
Federal Realty Investment Trus	COM	313747206	279	2,305	SH		SOLE		2,305	0	0
FelCor Lodging Trust Incorpora	COM	31430F101	126	12,000	SH		SOLE		12,000	0	0
Fiserv Inc.	COM	337738108	200	3,320	SH		SOLE		3,320	0	0
Ford Motor Corp.	COM	345370860	537	31,132	SH		SOLE		31,132	0	0
General Electric Company	COM	369604103	17,000	646,875	SH		SOLE		646,875	0	0
Google Inc Class A	COM	38259P508	7,598	12,996	SH		SOLE		12,996	0	0
Google Inc.	COM	38259P706	8,012	13,927	SH		SOLE		13,927	0	0
HCP, Inc.	COM	40414L109	1,411	34,100	SH		SOLE		34,100	0	0
Health Care Reit Inc.	COM	42217K106	2,978	47,513	SH		SOLE		47,513	0	0
Home Depot, Inc.	COM	437076102	1,676	20,702	SH		SOLE		20,702	0	0
Hospitality Properties Trust	COM	44106M102	261	8,575	SH		SOLE		8,575	0	0
Illinois Tool Works, Inc.	COM	452308109	224	2,560	SH		SOLE		2,560	0	0
Intel Corporation	COM	458140100	14,259	461,457	SH		SOLE		461,457	0	0
Intl Business Machines, Corp.	COM	459200101	2,071	11,423	SH		SOLE		11,423	0	0
J P Morgan Chase & Co.	COM	46625H100	1,568	27,205	SH		SOLE		27,205	0	0
Johnson & Johnson	COM	478160104	2,540	24,279	SH		SOLE		24,279	0	0
Kimberly Clark Corp.	COM	494368103	1,469	13,212	SH		SOLE		13,212	0	0
Kinder Morgan Energy Partners,	COM	494550106	2,169	26,383	SH		SOLE		26,383	0	0
Kraft Foods Group	COM	50076Q106	229	3,815	SH		SOLE		3,815	0	0
Las Vegas Sands Corp.	COM	517834107	13,930	182,755	SH		SOLE		182,755	0	0
Lockheed Martin Corp. Inc.	COM	539830109	338	2,100	SH		SOLE		2,100	0	0
Lowes Companies, Inc.	COM	548661107	559	11,645	SH		SOLE		11,645	0	0
Marathon Oil Corp.	COM	565849106	303	7,591	SH		SOLE		7,591	0	0
Marathon Petroleum Corporation	COM	56585A102	300	3,840	SH		SOLE		3,840	0	0
Marriott International Corpora	COM	571903202	204	3,188	SH		SOLE		3,188	0	0
MasterCard Incorporated	COM	57636Q104	14,751	200,776	SH		SOLE		200,776	0	0
McCormick & Co., Inc. - Voting	COM	579780107	356	5,000	SH		SOLE		5,000	0	0
McCormick & Company, Inc.	COM	579780206	667	9,310	SH		SOLE		9,310	0	0
McDonald's Corp., Inc.	COM	580135101	1,377	13,670	SH		SOLE		13,670	0	0
Medtronic, Inc.	COM	585055106	985	15,447	SH		SOLE		15,447	0	0
Merck & Co., Inc.	COM	58933Y105	1,797	31,065	SH		SOLE		31,065	0	0
Microsoft Corporation	COM	594918104	14,475	347,119	SH		SOLE		347,119	0	0
Mondelez Int'l. Inc.	COM	609207105	221	5,882	SH		SOLE		5,882	0	0
NextEra Energy	COM	65339F101	650	6,340	SH		SOLE		6,340	0	0
NII Holdings Inc.	COM	62913F201	22	40,200	SH		SOLE		40,200	0	0
Noble Energy, Inc.	COM	655044105	310	4,000	SH		SOLE		4,000	0	0
Occidental Petroleum Corp., In	COM	674599105	382	3,722	SH		SOLE		3,722	0	0
Omega Healthcare Invs REIT	COM	681936100	292	7,910	SH		SOLE		7,910	0	0
Oracle Corp.	COM	68389X105	541	13,345	SH		SOLE		13,345	0	0
Pepco Holdings	COM	713291102	1,738	63,258	SH		SOLE		63,258	0	0
Pepsico, Inc.	COM	713448108	14,306	160,131	SH		SOLE		160,131	0	0
Pfizer, Inc.	COM	717081103	1,961	66,075	SH		SOLE		66,075	0	0
Philip Morris International In	COM	718172109	1,633	19,372	SH		SOLE		19,372	0	0
Phillips 66	COM	718546104	442	5,491	SH		SOLE		5,491	0	0
Plains All American Pipeline L	COM	726503105	417	6,945	SH		SOLE		6,945	0	0
PPL Corporation	COM	69351T106	2,182	61,402	SH		SOLE		61,402	0	0
Public Service Enterprises	COM	744573106	215	5,263	SH		SOLE		5,263	0	0
Qualcomm, Inc.	COM	747525103	12,475	157,515	SH		SOLE		157,515	0	0
Regency Energy Partners LP	COM	75885Y107	214	6,643	SH		SOLE		6,643	0	0
Rock-Tenn Company-CL A	COM	772739207	1,193	11,296	SH		SOLE		11,296	0	0
Royal Dutch Shell	COM	780259206	353	4,280	SH		SOLE		4,280	0	0
Sandy Spring Bancorp, Inc.	COM	800363103	458	18,400	SH		SOLE		18,400	0	0
Schlumberger Inc.	COM	806857108	368	3,116	SH		SOLE		3,116	0	0
Simon Property Group	COM	828806109	339	2,038	SH		SOLE		2,038	0	0
Southern Company, Inc.	COM	842587107	2,145	47,263	SH		SOLE		47,263	0	0
Suburban Propane Partners, L.P	COM	864482104	1,095	23,815	SH		SOLE		23,815	0	0
Sysco Corporation	COM	871829107	237	6,320	SH		SOLE		6,320	0	0
T J X Cos Inc.	COM	872540109	238	4,480	SH		SOLE		4,480	0	0
T.Rowe Price Group, Inc.	COM	74144T108	13,325	157,857	SH		SOLE		157,857	0	0
TD Ameritrade Holding Corp.	COM	87236Y108	11,487	366,410	SH		SOLE		366,410	0	0
The Procter & Gamble Company	COM	742718109	13,483	171,563	SH		SOLE		171,563	0	0
U S Bancorp.	COM	902973304	439	10,139	SH		SOLE		10,139	0	0
Under Armour, Inc.	COM	904311107	20,342	341,937	SH		SOLE		341,937	0	0
United Technologies, Inc.	COM	913017109	357	3,089	SH		SOLE		3,089	0	0
United Therapeutics Corp.	COM	91307C102	12,598	142,361	SH		SOLE		142,361	0	0
V.F. Corporation	COM	918204108	19,066	302,637	SH		SOLE		302,637	0	0
Verizon Communications Inc.	COM	92343V104	5,568	113,802	SH		SOLE		113,802	0	0
W.W. Grainger, Inc.	COM	384802104	222	875	SH		SOLE		875	0	0
Wal-Mart Company, Inc.	COM	931142103	1,185	15,781	SH		SOLE		15,781	0	0
Walt Disney Company, Inc.	COM	254687106	520	6,062	SH		SOLE		6,062	0	0
Washington REIT	COM	939653101	962	37,040	SH		SOLE		37,040	0	0
Wells Fargo Inc.	COM	949746101	1,215	23,125	SH		SOLE		23,125	0	0
Whole Foods Market, Inc.	COM	966837106	7,825	202,575	SH		SOLE		202,575	0	0
Yahoo, Inc.	COM	984332106	211	6,000	SH		SOLE		6,000	0	0
Yum! Brands, Inc.	COM	988498101	14,490	178,448	SH		SOLE		178,448	0	0
Aegon NV Preferred 6.375%	PFD	007924301	330	12,900	SH		SOLE		12,900	0	0
BG&E Cap Trust II 6.20% Prefer	PFD	05541Q206	1,664	65,390	SH		SOLE		65,390	0	0
Goldman Sachs- Series B Pfd. 6	PFD	38141GCM4	259	10,400	SH		SOLE		10,400	0	0
Goldman Sachs Group, Inc. 6.12	PFD	38145X111	1,549	59,720	SH		SOLE		59,720	0	0
Hospitality Properties Trust-	PFD	44106M607	225	8,820	SH		SOLE		8,820	0	0
JP Morgan Chase 6.70% due 4/2/	PFD	48125E207	1,165	44,810	SH		SOLE		44,810	0	0
Metlife Inc. 6.5% Pfd Non-cumu	PFD	59156R603	1,396	54,675	SH		SOLE		54,675	0	0
Partnerre Ltd. 6.5% Perpetual	PFD	G68603409	524	20,745	SH		SOLE		20,745	0	0
Call Apple Inc. 01/17/15 $64.2	CALL	A1715D640	2,030	700	SH		SOLE		700	0	0