UNITED STATES
SECURITIES AND EXCHANGE COM    MISSION
WASH soleINGTON, D.C.  20549

FORM 13F

FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: June 30, 2009

Check here if Amendment  [ ]; Amendment Number:
This Amendment (Check only one.): [  ] is a restatement.

 [ ] adds new holdings entries.



Institutional Investment Manager Filing this Report:

Name:	Capital Management Associates
Address:	140 Broadway
		44th Floor
		New York, NY  10005

13F File Number:

The institutional investment manager filing this report and the person
by whom it is signed hereby represent that the person signing the report
is authorized to submit it, that all information contained herein is true,
correct and COM    plete, and that it is understood that all required items,
statements, schedules, lists, and tables, are considered integral parts
of this form.

Person Signing this Report on Behalf of Reporting Manager:

Name 	Ralph Scarpa
Title:	President
Phone:	212-320-2000

Signature, Place, and Date of Signing:



Ralph Scarpa, New York, New York, August 12, 2009

Report Type (Check only one.):

[X]	13F HOLDINGS REPORT.
[  ]	13F NOTICE.
[  ]	13F COM    BINATION REPORT.


List of Other Managers Reporting for this Manager:

I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.



FORM 13F SUMMARY PAGE



Report Summary:

Number of Other Included Managers:

Form 13F Information Table Entry Total:

Form 13F Information Table Value Total:

Capital Management Associates FORM 13F June 30, 2009


Voting Authority-ValueSH soleares/SH sole/Put/
Invstmt Other Name of IssuerTitle of class CUSIP (x$1000) Prn Amt Prn
Call Dscretn   Managers   SH soleared None  Capital Management Associates
                                                              FORM 13F
                                                            June 30, 2009

3M COCOM88579y101115219160SHSole135017810
ABBOTT LABSCOM0028241002294869SHSole1004769
ACTIVISION BLIZZARD INC.COM00507v10922017400SHSole500012400
ADVANCED VIRAL RESEARCH CORPCOM007928104010000SHSole10000
AFFILIATED COMPUTER SVCS-ACOM0081901003337500SHSole60001500
ALBEMARLECOM01265310149019175SHSole70018475
ALBERTO CULVER COMPANY COM01307810050920000SHSole1000010000
AMERICAN TOWER CORP-CL ACOM02991220171722750SHSole80021950
AMPHENOL CORP.COM03209510141813200SHSole90004200
APPLE INCCOM0378331006494555SHSole6253930
AQUA AMERICA INCCOM03836W10353930103SHSole65029453
ASSURED GUARANTY LTDCOMg0585r10613110600SHSole10010500
AT& T INCCOM00206r102201881227SHSole1541765810
AUTOMATIC DATA PROCESSINGCOM05301510351214450SHSole85013600
BANK OF AMERICA CORP.COM0605051042451185684SHSole6275179409
BARE ESCENTUALS INC.COM0675111051025115000SHSole2500090000
BARNES GROUPCOM06780610923119450SHSole355015900
BECTON DICKINSON & COCOM0758871093464855SHSole4855
BED BATH & BEYOND INC.COM075896100214069600SHSole1000059600
BERKSHIRE HATHAWAY INC CL BCOM0846702071668576SHSole576
BLACK & DECKER CORPCOM091797100110938700SHSole800030700
BRISTOL MYERS SQUIBB COMPANYCOM110122108161779630SHSole1570063930
CAMECO CORP.COM13321l10846118000SHSole140004000
CAMERON INTERNATIONAL CORPCOM13342b10561021540SHSole1030011240
CANON INC-SPONSORED ADRCOM13800630932510000SHSole10000
CAPITALSOURCECOM14055x10216934618.87SHSole1060024018.87
CAPSTEAD MORTGAGE CORPCOM14067E50637529483.93SHSole1500014483.93
CATERPILLAR INCCOM149123101144843820SHSole50043320
CHATTEM INCORPORATIONCOM16245610784812450SHSole25012200
CHURCH & DWIGHT COCOM17134010297818000SHSole18000
CISCO SYS INC COMCOM17275R10257430798SHSole158029218
CIT GROUP INC.COM1255811084018680SHSole30018380
CITIGROUPCOM1729671015317755SHSole100016755
CLIFFS NATURAL RESOURCESCOM18683k10154022050SHSole70021350
CLOROX COMPANYCOM189054109348862468SHSole857553893
COACH INCCOM18975410426910000SHSole10000
COCA COLA COCOM19121610061012704SHSole200010704
CON-WAY INCCOM2059441012015700SHSole40001700
CONAGRA INCCOM205887102117861800SHSole61800
CONSOLIDATED WATER CO ORDCOMg2377310780250601SHSole140049201
CORNING INCCOM21935010579949745SHSole180047945
CRUCELL N V SPONSORED ADRCOM22876910524110000SHSole10000
CSX CORPCOM12640810378022510SHSole50022010
CUBIST PHARMACEUTICALCOM22967810718310000SHSole10000
CVS CORPCOM12665010066120745SHSole380016945
DECKERS OUTDOOR CORPCOM243537107143420400SHSole500015400
DEL MONTE FOODS CO.COM24522p1032003213500SHSole50000163500
DENTSPLY INTERNATIONAL INCCOM24903010753817600SHSole120005600
DEVON ENERGY CORPCOM25179m1032184000SHSole4000
DIAMOND OFFSHORE DRILLINGCOM25271C1022993600SHSole3600
DIONEX CORPCOM2545461043055000SHSole5000
DU PONT E I DE NEMOURSCOM26353410960823732SHSole40023332
DUKE ENERGY CORP.COM26441C105139495534SHSole95534
DYNEGY, INC.COM26817g1028638000SHSole38000
EBAY INCCOM278642103105761700SHSole380057900
EDISON INTERNATIONALCOM28102010743113700SHSole115002200
EMERSON ELEC COCOM29101110495329400SHSole1500014400
ENERGEN CORPCOM29265n10848312100SHSole100002100
ENERGIZER HOLDINGS INC.COM29266r10883616000SHSole500011000
ENTERPRISE PRODUCTS PRTNS LPCOM293792107112745193SHSole210043093
ESTEE LAUDER COMPANIES - CL ACOM51843910466120240SHSole50019740
EVERGREEN ENERGY INC.COM30024b1042929465SHSole150027965
EXXON MOBIL CORPORATIONCOM30231g102265437959SHSole40037559
FEDERAL NATIONAL MORTGAGE ASSNCOM313586109610000SHSole10000
FLEXTRONICS INTL LTDCOMY2573F10214434800SHSole300004800
FLOWERS FOODS INC.COM343498101714963273627.33SHSole16822611591366.33
FOOT LOCKER INCCOM34484910412511950SHSole110010850
FOREST OIL CORPORATIONCOM34609170530620490SHSole20020290
FPL GROUP, INC.COM302571104131923200SHSole20023000
FREDDIE MACCOM313400301610000SHSole10000
FREEPORT-MCMORAN COPPER-BCOM35671D8572234455SHSole1754280
FRONTIER COMMUNICATIONSCOM35906a10814320000SHSole20000
GENERAL ELEC COCOM3696041032573219528SHSole8550210978
GENERAL MTRS CORPCOM3704421052220000SHSole20000
GTX INCCOM40052b10813815000SHSole15000
HCC INSURANCE HOLDINGS INCCOM40413210262325950SHSole280023150
HEINZ H J COCOM42307410394626500SHSole26500
HENRY SCHEIN INC.COM8064071022886000SHSole6000
HERSHEY CO/THECOM427866108171047500SHSole700040500
HOLOGIC INC.COM43644010134224000SHSole200004000
HOME DEPOT INCCOM437076102129854950SHSole54950
HONEYWELL INTERNATIONAL INC.COM4385161062728667SHSole8507817
I SHARES SILVER TRUSTCOM46428q10926820000SHSole20000
ILLINOIS TOOL WKS INC COMCOM45230810964017130SHSole140015730
INTEL CORP COMCOM45814010018110940SHSole59504990
INTERNATIONAL BUSINESS MACHINECOM4592001012182089SHSole3001789
INTERNATIONAL PAPER COMPANYCOM46014610329119215SHSole70018515
ITRON INCCOM465741106179132520SHSole500027520
JARDEN CORPORATIONCOM47110910862833500SHSole1500018500
JM SMUCKER CO/THE -NEW COMMONCOM832696405119224500SHSole24500
JOHNSON & JOHNSONCOM478160104204536000SHSole100035000
JP MORGAN CHASE & COCOM46625h1002507339SHSole18395500
KINROSS GOLDCOM49690240422212235SHSole12235
KRAFT FOODS INC-ACOM50075n10428211123SHSole50006123
LABRANCHE & CO INC.COM50544710228365700SHSole2500040700
LIBERTY MEDIA CORPORATION - ACOM53071810528110272SHSole10272
LIFEPOINT HOSPITALS INCCOM53219L10932812500SHSole12500
LOWES COS INCCOM54866110738820000SHSole20000
LUBRIZOL CORP COMCOM549271104140429681SHSole1500014681
MARTEK BIOSCIENCESCOM57290110634916500SHSole150001500
MASTERCARD INC. - CLASS ACOM57636q1044232527SHSole3002227
MCCORMICK & CO-NON VTG SHRSCOM57978020632510000SHSole10000
MCDONALDS CORPCOM5801351015359310SHSole2009110
MCMORAN EXPLORATION COCOM582411104794133240SHSole15940117300
MEDCO HEALTH SOLUTIONS INCCOM58405u10268415000SHSole15000
METROPOLITAN HEALTH NETWORKS ICOM5921421032010000SHSole10000
MICROSOFT CORPCOM594918104187478838SHSole496073878
NORDSTROM INC COMCOM65566410069635000SHSole35000
NORTHWESTERN CORPORATIONCOM66807430523010100SHSole10000100
NYSE EURONEXT - was NYSE GroupCOM629491101126146275SHSole46275
PARKER HANNIFIN CORPCOM7010941043879000SHSole9000
PEPSICO INCCOM71344810877314060SHSole30013760
PFIZER INCCOM7170811031901126729SHSole8800117929
PLATINUM UNDERWRITER HOLDINGSCOMg7127P10050617700SHSole103007400
POLYONE CORPCOM73179p10612847250SHSole47250
PRESSTEK INC.COM7411131043121985SHSole21985
PROCTER & GAMBLE CO.COM742718109182035611SHSole15035461
PROJECT GROUP INCCOM74338q100?70000SHSole3500035000
PULTE CORP COMCOM74586710139745000SHSole45000
QUEST DIAGNOSTICS INCCOM74834L10064611450SHSole100001450
RAIL AMERICA INCCOM35702310042125020SHSole100024020
RAM ENERGY RESOURCES INC.COM75130p1092025000SHSole25000
RAYONIER INCCOM7549071032186000SHSole6000
REPUBLIC SERVICES INCCOM76075910051621150SHSole170004150
ROCKWELL COLLINS INC COMCOM77434110150112000SHSole12000
ROSS STORES INCCOM77829610338610000SHSole10000
ROWAN COS INCCOM77938210035718500SHSole150003500
SARA LEE CORPCOM80311110323123700SHSole200003700
SCANA CORPCOM80589m10235911050SHSole50006050
SCHERING PLOUGH CORPCOM8066051012329250SHSole20007250
SCHLUMBERGER LTDCOM806857108128823800SHSole1000013800
SENSIENT TECHNOLOGIES CORPCOM81725t10059826500SHSole1500011500
SHERWIN WILLIAMS CO COMCOM82434810686016000SHSole16000
SNAP ON INC COMCOM833034101185764600SHSole3000034600
SOUTH JERSEY INDUSTRIESCOM8385181082798000SHSole8000
SOUTHWEST WATER COCOM84533110710418940SHSole18940
SPDR GOLD TRUSTCOM78463V1073744100SHSole4000100
SPECTRA ENERGY CORPCOM87456010981548167SHSole48167
STANLEY WORKSCOM85461610976522600SHSole150021100
STAPLES INCCOM85503010291045080SHSole150043580
STAR BULK CARRIERS CORPORATIONCOMy8162k1054010781SHSole10781
STARBUCKS CORPCOM85524410972552208SHSole55051658
STERICYCLE INC.COM85891210855710800SHSole80002800
STERIS CORPCOM85915210039115000SHSole15000
SUN HEALTHCARECOM86693340117721000SHSole200001000
SUPERIOR ENERGY SERVICES INC.COM86815710852330300SHSole50029800
SYSCO CORP.COM87182910722510000SHSole10000
TARGET CORP.COM87612e10684721471SHSole21471
TECO ENERGY INCCOM87237510038232000SHSole32000
TEEKAY LNG PARTNERS LPCOMy8564m10549225240SHSole25240
TOOTSIE ROLL INDUSTRIESCOM8905161073154139020.24SHSole23369.68115650.56
TRANSOCEAN LTD (ORDINARY SHARECOMh8817h1004195646SHSole2505396
TRAVELERS COS INC/THECOM89417e10988321523SHSole1000011523
TREEHOUSE FOODS INC.COM89469a10430810700SHSole10000700
TUPPERWARE CORP.COM89989610454621000SHSole21000
UNITED NATURAL FOODS INCCOM91116310326210000SHSole10000
VCA ANTECH INC COMCOM91819410126710000SHSole10000
VERIFONE HOLDINGS INCCOM92342y1097510000SHSole10000
VERIZON COMMUNICATIONSCOM92343v10435811634SHSole11634
WAL MART STORES INCCOM931142103155532100SHSole10032000
WASHINGTON MUTUAL INC.COM939322103215939SHSole15939
WATSCO INCCOM9426222002695500SHSole5500
WD-40 COMPANYCOM929236107210672620SHSole1050062120
WESTERN UNIONCOM95980210967841330SHSole140039930
WHIRLPOOLCOM9633201062686300SHSole50001300
WHITE MOUNTAIN INSURANCE GROUPCOMg9618e1074291873SHSole401833
WILLIAMS COS INC.COM96945710088556680SHSole190054780
WINDSTREAM CORPCOM97381w10433440000SHSole40000
WRIGHT MEDICAL GROUP INC.COM98235t10716310000SHSole50005000
YAHOO! INCCOM98433210665641905SHSole50041405