RMR Advisors 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
Estimated average burden
hours per response:		23.8

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
ALEXANDRIA REAL ESTATE EQUIT	COM	015271109	2,177	34,100	SH		SOLE		34,100	0	0
AMERICAN ASSETS TRUST INC	COM	024013104	244	8,000	SH		SOLE		8,000	0	0
AMERICAN CAMPUS COMMUNITIES	COM	024835100	884	25,900	SH		SOLE		25,900	0	0
AMERICAN REALTY CAPITAL PROP	COM	02917T104	610	50,000	SH		SOLE		50,000	0	0
ANNALY CAPITAL MANAGEMENT IN	COM	035710409	984	85,000	SH		SOLE		85,000	0	0
APARTMENT INVT + MGMT CO A	CL A	03748R101	803	28,745	SH		SOLE		28,745	0	0
ARMOUR RESIDENTIAL REIT INC	COM	042315101	504	120,000	SH		SOLE		120,000	0	0
ASHFORD HOSPITALITY TRUST	COM SHS	044103109	679	55,000	SH		SOLE		55,000	0	0
ASHFORD HOSPITALITY TRUST	9% CUM PFD SER E	044103505	1,169	45,000	SH		SOLE		45,000	0	0
ASSOCIATED ESTATES REALTY CP	COM	045604105	3,170	212,628	SH		SOLE		212,628	0	0
AVALONBAY COMMUNITIES INC	COM	053484101	3,416	26,875	SH		SOLE		26,875	0	0
BEAZER HOMES USA INC	COM NEW	07556Q881	126	7,000	SH		SOLE		7,000	0	0
BIOMED REALTY TRUST INC	COM	09063H107	1,208	65,000	SH		SOLE		65,000	0	0
BLACKROCK CREDIT ALL INC TR	COM	092508100	254	19,451	SH		SOLE		19,451	0	0
BOSTON PROPERTIES INC	COM	101121101	2,191	20,500	SH		SOLE		20,500	0	0
BRANDYWINE REALTY TRUST	SH BEN INT NEW	105368203	2,179	165,300	SH		SOLE		165,300	0	0
CAMDEN PROPERTY TRUST	SH BEN INT	133131102	307	5,000	SH		SOLE		5,000	0	0
CAMPUS CREST COMMUNITIES INC	COM	13466Y105	270	25,000	SH		SOLE		25,000	0	0
CBL + ASSOCIATES PROPERTIES	COM	124830100	1,604	84,000	SH		SOLE		84,000	0	0
CEDAR REALTY TRUST INC	COM New	150602209	600	115,810	SH		SOLE		115,810	0	0
CHATHAM LODGING TRUST	COM	16208T102	822	46,000	SH		SOLE		46,000	0	0
CHESAPEAKE LODGING TRUST	SH BEN INT	165240102	1,688	71,700	SH		SOLE		71,700	0	0
COHEN + STEERS INFRASTRUCTURE	COM	19248A109	598	30,278	SH		SOLE		30,278	0	0
COHEN + STEERS QUALITY RLTY	COM	19247L106	980	100,297	SH		SOLE		100,297	0	0
CORPORATE OFFICE PROPERTIES	SH BEN INT	22002T108	1,120	48,500	SH		SOLE		48,500	0	0
CUBESMART	COM	229663109	446	15,000	SH		SOLE		15,000	0	0
DCT INDUSTRIAL TRUST INC	COM	233153105	1,075	149,500	SH		SOLE		149,500	0	0
DDR CORP	COM	23317H102	974	62,000	SH		SOLE		62,000	0	0
DIAMONDROCK HOSPITALITY CO	COM	252784301	593	55,603	SH		SOLE		55,603	0	0
DIGITAL REALTY TRUST INC	COM	253868103	1,912	36,000	SH		SOLE		36,000	0	0
DOUGLAS EMMETT INC	COM	25960P109	923	39,322	SH		SOLE		39,322	0	0
DUKE REALTY CORP	COM NEW	264411505	712	46,100	SH		SOLE		46,100	0	0
DUPONT FABROS TECHNOLOGY	COM	26613Q106	412	16,000	SH		SOLE		16,000	0	0
EASTGROUP PROPERTIES INC	COM	277276101	669	11,300	SH		SOLE		11,300	0	0
EATON VANCE ENHANCED EQUITY IN	COM	278277108	413	35,188	SH		SOLE		35,188	0	0
EDUCATION REALTY TRUST INC	COM	28140H104	152	16,737	SH		SOLE		16,737	0	0
EPR PROPERTIES	COM SH BEN INT	26884U109	4,335	88,950	SH		SOLE		88,950	0	0
EPR PROPERTIES	CONV PFD 9% SR E	26884U307	484	16,400	SH		SOLE		16,400	0	0
EQUITY ONE INC	COM	294752100	863	39,500	SH		SOLE		39,500	0	0
EQUITY RESIDENTIAL	SH BEN INT	29476L107	3,964	74,000	SH		SOLE		74,000	0	0
ESSEX PROPERTY TRUST INC	COM	297178105	1,551	10,500	SH		SOLE		10,500	0	0
EXCEL TRUST INC	COM	30068C109	1,363	113,568	SH		SOLE		113,568	0	0
FELCOR LODGING TRUST INC	COM	31430F101	62	10,000	SH		SOLE		10,000	0	0
FELCOR LODGING TRUST INC	PFD CV A $1.95	31430F200	1,776	73,500	SH		SOLE		73,500	0	0
FIRST POTOMAC REALTY TRUST	COM	33610F109	691	55,000	SH		SOLE		55,000	0	0
FRANKLIN STREET PROPERTIES C	COM	35471R106	797	62,595	SH		SOLE		62,595	0	0
GENERAL GROWTH PROPERTIES	COM	370023103	386	20,000	SH		SOLE		20,000	0	0
GETTY REALTY CORP	COM	374297109	427	22,000	SH		SOLE		22,000	0	0
GLADSTONE COMMERCIAL CORP	COM	376536108	229	12,742	SH		SOLE		12,742	0	0
GLIMCHER REALTY TRUST	SH BEN INT	379302102	1,967	201,700	SH		SOLE		201,700	0	0
HCP INC	COM	40414L109	4,772	116,530	SH		SOLE		116,530	0	0
HEALTH CARE REIT INC	COM	42217K106	1,821	29,200	SH		SOLE		29,200	0	0
HEALTHCARE REALTY TRUST INC	COM	421946104	585	25,300	SH		SOLE		25,300	0	0
HERSHA HOSPITALITY TRUST	SH BEN INT A	427825104	2,183	390,583	SH		SOLE		390,583	0	0
HIGHWOODS PROPERTIES INC	COM	431284108	1,766	50,000	SH		SOLE		50,000	0	0
HOME PROPERTIES INC	COM	437306103	809	14,000	SH		SOLE		14,000	0	0
HOST HOTELS + RESORTS INC	COM	44107P104	424	24,000	SH		SOLE		24,000	0	0
HYATT HOTELS CORP CL A	COM CL A	448579102	537	12,500	SH		SOLE		12,500	0	0
INDEPENDENCE REALTY TRUST IN	COM	45378A106	580	70,000	SH		SOLE		70,000	0	0
INLAND REAL ESTATE CORP	COM NEW	457461200	1,599	156,300	SH		SOLE		156,300	0	0
KILROY REALTY CORP	COM	49427F108	1,429	28,600	SH		SOLE		28,600	0	0
KIMCO REALTY CORP	COM	49446R109	2,220	110,000	SH		SOLE		110,000	0	0
KITE REALTY GROUP TRUST	COM	49803T102	952	160,503	SH		SOLE		160,503	0	0
LASALLE HOTEL PROPERTIES	COM SH BEN INT	517942108	285	10,000	SH		SOLE		10,000	0	0
LENNAR CORP A	CL A	526057104	425	12,000	SH		SOLE		12,000	0	0
LEXINGTON REALTY TRUST	COM	529043101	3,246	289,058	SH		SOLE		289,058	0	0
LIBERTY PROPERTY TRUST	SH BEN INT	531172104	2,483	69,737	SH		SOLE		69,737	0	0
LTC PROPERTIES INC	COM	502175102	2,237	58,897	SH		SOLE		58,897	0	0
MACERICH CO/THE	COM	554382101	1,607	28,470	SH		SOLE		28,470	0	0
MACK CALI REALTY CORP	COM	554489104	1,273	58,030	SH		SOLE		58,030	0	0
MEDICAL PROPERTIES TRUST INC	COM	58463J304	4,227	347,320	SH		SOLE		347,320	0	0
MID AMERICA APARTMENT COMM	COM	59522J103	1,125	18,000	SH		SOLE		18,000	0	0
MPG OFFICE TRUST INC	COM	553274101	75	24,000	SH		SOLE		24,000	0	0
NATIONAL RETAIL PROPERTIES	COM	637417106	4,009	126,000	SH		SOLE		126,000	0	0
NATL HEALTH INVESTORS INC	COM	63633D104	3,070	53,958	SH		SOLE		53,958	0	0
NUVEEN REAL ESTATE INCOME FUND	COM	67071B108	310	29,330	SH		SOLE		29,330	0	0
OMEGA HEALTHCARE INVESTORS	COM	681936100	463	15,498	SH		SOLE		15,498	0	0
ONE LIBERTY PROPERTIES INC	COM	682406103	893	44,012	SH		SOLE		44,012	0	0
PARKWAY PROPERTIES INC	COM	70159Q104	178	10,000	SH		SOLE		10,000	0	0
PEBBLEBROOK HOTEL TRUST	COM	70509V100	1,237	43,100	SH		SOLE		43,100	0	0
PENN REAL ESTATE INVEST TST	SH BEN INT	709102107	1,629	87,118	SH		SOLE		87,118	0	0
PHYSICIANS REALTY TRUST	COM	71943U104	429	35,400	SH		SOLE		35,400	0	0
POST PROPERTIES INC	COM	737464107	657	14,600	SH		SOLE		14,600	0	0
PROLOGIS INC	COM	74340W103	1,847	49,088	SH		SOLE		49,088	0	0
PUBLIC STORAGE	COM	74460D109	2,312	14,400	SH		SOLE		14,400	0	0
RAMCO GERSHENSON PROPERTIES TR	COM SH BEN INT	751452202	2,141	138,928	SH		SOLE		138,928	0	0
REALTY INCOME CORP	COM	756109104	1,268	31,900	SH		SOLE		31,900	0	0
REGENCY CENTERS CORP	COM	758849103	923	19,100	SH		SOLE		19,100	0	0
RETAIL OPPORTUNITY INVESTMEN	COM	76131N101	276	20,000	SH		SOLE		20,000	0	0
RETAIL PROPERTIES OF AME A	CL A	76131V202	688	50,000	SH		SOLE		50,000	0	0
RLJ LODGING TRUST	COM	74965L101	926	39,400	SH		SOLE		39,400	0	0
RYMAN HOSPITALITY PROPERTIES	COM	78377T107	207	6,000	SH		SOLE		6,000	0	0
SABRA HEALTH CARE REIT INC	COM	78573L106	1,415	61,500	SH		SOLE		61,500	0	0
SIMON PROPERTY GROUP INC	COM	828806109	4,184	28,227	SH		SOLE		28,227	0	0
SL GREEN REALTY CORP	COM	78440X101	2,034	22,900	SH		SOLE		22,900	0	0
SPIRIT REALTY CAPITAL INC	COM	84860W102	192	20,952	SH		SOLE		20,952	0	0
ST JOE CO/THE	COM	790148100	98	5,000	SH		SOLE		5,000	0	0
STAG INDUSTRIAL INC	COM	85254J102	1,634	81,209	SH		SOLE		81,209	0	0
SUMMIT HOTEL PROPERTIES INC	COM	866082100	535	58,203	SH		SOLE		58,203	0	0
SUN COMMUNITIES INC	COM	866674104	2,227	52,256	SH		SOLE		52,256	0	0
SUNSTONE HOTEL INVESTORS	CV 8% CUM PFD-D	867892507	2,738	108,739	SH		SOLE		108,739	0	0
SUPERTEL HOSPITALITY INC	COM	868526401	68	10,580	SH		SOLE		10,580	0	0
TAUBMAN CENTERS INC	COM NEW	876664103	337	5,000	SH		SOLE		5,000	0	0
UDR INC	COM	902653104	924	39,000	SH		SOLE		39,000	0	0
UMH PROPERTIES INC	CV RED PFD A	903002202	964	37,500	SH		SOLE		37,500	0	0
UMH PROPERTIES INC	COM	903002103	350	35,284	SH		SOLE		35,284	0	0
URSTADT BIDDLE PROPERTIES, INC.	CL A	917286205	833	41,900	SH		SOLE		41,900	0	0
VENTAS INC	COM	92276F100	5,190	84,397	SH		SOLE		84,397	0	0
VORNADO REALTY TRUST	SH BEN INT	929042109	3,727	44,335	SH		SOLE		44,335	0	0
WASHINGTON REIT	SH BEN INT	939653101	707	28,000	SH		SOLE		28,000	0	0
WEINGARTEN REALTY INVESTORS	SH BEN INT	948741103	2,244	76,500	SH		SOLE		76,500	0	0
WHITESTONE REIT	COM	966084204	34	2,329	SH		SOLE		2,329	0	0
WP CAREY INC	COM	92936U109	323	5,000	SH		SOLE		5,000	0	0