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 EQUITIES	COM	015271109	2,474	34,100	SH		SOLE		34,100	0	0
AMERICAN ASSETS TRUST INC	COM	024013104	270	8,000	SH		SOLE		8,000	0	0
AMERICAN CAMPUS COMMUNITIES	COM	024835100	967	25,900	SH		SOLE		25,900	0	0
AMERICAN REALTY CAPITAL PROP	COM	02917T104	1,875	133,716	SH		SOLE		133,716	0	0
ANNALY CAPITAL MANAGEMENT IN	COM	035710409	932	85,000	SH		SOLE		85,000	0	0
APARTMENT INVT + MGMT CO A	CL A	03748R101	869	28,745	SH		SOLE		28,745	0	0
ARMOUR RESIDENTIAL REIT INC	COM	042315101	494	120,000	SH		SOLE		120,000	0	0
ASHFORD HOSPITALITY PRIME IN	COM	044102101	166	11,000	SH		SOLE		11,000	0	0
ASHFORD HOSPITALITY TRUST	COM SHS	044103109	620	55,000	SH		SOLE		55,000	0	0
ASHFORD HOSPITALITY TRUST	9% CUM PFD SER E	044103505	1,211	45,000	SH		SOLE		45,000	0	0
ASSOCIATED ESTATES REALTY CP	COM	045604105	3,602	212,628	SH		SOLE		212,628	0	0
AVALONBAY COMMUNITIES INC	COM	053484101	3,529	26,875	SH		SOLE		26,875	0	0
BEAZER HOMES USA INC	COM NEW	07556Q881	141	7,000	SH		SOLE		7,000	0	0
BIOMED REALTY TRUST INC	COM	09063H107	1,332	65,000	SH		SOLE		65,000	0	0
BLACKROCK CREDIT ALL INC TR	COM	092508100	263	19,451	SH		SOLE		19,451	0	0
BOSTON PROPERTIES INC	COM	101121101	2,348	20,500	SH		SOLE		20,500	0	0
BRANDYWINE REALTY TRUST	SH BEN INT NEW	105368203	2,390	165,300	SH		SOLE		165,300	0	0
CAMDEN PROPERTY TRUST	SH BEN INT	133131102	337	5,000	SH		SOLE		5,000	0	0
CAMPUS CREST COMMUNITIES INC	COM	13466Y105	217	25,000	SH		SOLE		25,000	0	0
CBL + ASSOCIATES PROPERTIES	COM	124830100	1,491	84,000	SH		SOLE		84,000	0	0
CEDAR REALTY TRUST INC	COM New	150602209	708	115,810	SH		SOLE		115,810	0	0
CHATHAM LODGING TRUST	COM	16208T102	930	46,000	SH		SOLE		46,000	0	0
CHESAPEAKE LODGING TRUST	SH BEN INT	165240102	1,845	71,700	SH		SOLE		71,700	0	0
COHEN + STEERS QUALITY RLTY	COM	19247L106	1,056	100,297	SH		SOLE		100,297	0	0
CORPORATE OFFICE PROPERTIES	SH BEN INT	22002T108	1,292	48,500	SH		SOLE		48,500	0	0
CUBESMART	COM	229663109	257	15,000	SH		SOLE		15,000	0	0
DCT INDUSTRIAL TRUST INC	COM	233153105	1,178	149,450	SH		SOLE		149,450	0	0
DDR CORP	COM	23317H102	1,022	62,000	SH		SOLE		62,000	0	0
DIAMONDROCK HOSPITALITY CO	COM	252784301	653	55,603	SH		SOLE		55,603	0	0
DIGITAL REALTY TRUST INC	COM	253868103	1,911	36,000	SH		SOLE		36,000	0	0
DOUGLAS EMMETT INC	COM	25960P109	1,067	39,322	SH		SOLE		39,322	0	0
DUKE REALTY CORP	COM NEW	264411505	778	46,100	SH		SOLE		46,100	0	0
DUPONT FABROS TECHNOLOGY	COM	26613Q106	373	15,500	SH		SOLE		15,500	0	0
EASTGROUP PROPERTIES INC	COM	277276101	711	11,300	SH		SOLE		11,300	0	0
EATON VANCE ENHANCED EQUITY IN	COM	278277108	465	35,188	SH		SOLE		35,188	0	0
EDUCATION REALTY TRUST INC	COM	28140H104	165	16,737	SH		SOLE		16,737	0	0
EPR PROPERTIES	COM SH BEN INT	26884U109	5,176	96,950	SH		SOLE		96,950	0	0
EPR PROPERTIES	CONV PFD 9% SR E	26884U307	503	16,400	SH		SOLE		16,400	0	0
EQUITY RESIDENTIAL	SH BEN INT	29476L107	4,291	74,000	SH		SOLE		74,000	0	0
ESSEX PROPERTY TRUST INC	COM	297178105	1,786	10,500	SH		SOLE		10,500	0	0
EXCEL TRUST INC	COM	30068C109	1,440	113,568	SH		SOLE		113,568	0	0
FELCOR LODGING TRUST INC	PFD CV A $1.95	31430F200	1,827	73,500	SH		SOLE		73,500	0	0
FIRST POTOMAC REALTY TRUST	COM	33610F109	711	55,000	SH		SOLE		55,000	0	0
FRANKLIN STREET PROPERTIES C	COM	35471R106	1,162	92,261	SH		SOLE		92,261	0	0
GENERAL GROWTH PROPERTIES	COM	370023103	440	20,000	SH		SOLE		20,000	0	0
GETTY REALTY CORP	COM	374297109	416	22,000	SH		SOLE		22,000	0	0
GLADSTONE COMMERCIAL CORP	COM	376536108	394	22,742	SH		SOLE		22,742	0	0
GLIMCHER REALTY TRUST	SH BEN INT	379302102	2,023	201,700	SH		SOLE		201,700	0	0
HCP INC	COM	40414L109	4,520	116,530	SH		SOLE		116,530	0	0
HEALTH CARE REIT INC	COM	42217K106	1,740	29,200	SH		SOLE		29,200	0	0
HEALTHCARE REALTY TRUST INC	COM	421946104	611	25,300	SH		SOLE		25,300	0	0
HERSHA HOSPITALITY TRUST	SH BEN INT A	427825104	2,277	390,583	SH		SOLE		390,583	0	0
HIGHWOODS PROPERTIES INC	COM	431284108	1,921	50,000	SH		SOLE		50,000	0	0
HOME PROPERTIES INC	COM	437306103	842	14,000	SH		SOLE		14,000	0	0
HOST HOTELS + RESORTS INC	COM	44107P104	486	24,000	SH		SOLE		24,000	0	0
INDEPENDENCE REALTY TRUST IN	COM	45378A106	1,813	203,514	SH		SOLE		203,514	0	0
INLAND REAL ESTATE CORP	COM NEW	457461200	1,649	156,300	SH		SOLE		156,300	0	0
KILROY REALTY CORP	COM	49427F108	1,675	28,600	SH		SOLE		28,600	0	0
KIMCO REALTY CORP	COM	49446R109	2,407	110,000	SH		SOLE		110,000	0	0
KITE REALTY GROUP TRUST	COM	49803T102	963	160,503	SH		SOLE		160,503	0	0
LASALLE HOTEL PROPERTIES	COM SH BEN INT	517942108	313	10,000	SH		SOLE		10,000	0	0
LENNAR CORP A	CL A	526057104	475	12,000	SH		SOLE		12,000	0	0
LEXINGTON REALTY TRUST	COM	529043101	3,699	339,058	SH		SOLE		339,058	0	0
LIBERTY PROPERTY TRUST	SH BEN INT	531172104	2,577	69,737	SH		SOLE		69,737	0	0
LTC PROPERTIES INC	COM	502175102	2,216	58,897	SH		SOLE		58,897	0	0
MACERICH CO/THE	COM	554382101	1,775	28,470	SH		SOLE		28,470	0	0
MACK CALI REALTY CORP	COM	554489104	1,206	58,030	SH		SOLE		58,030	0	0
MEDICAL PROPERTIES TRUST INC	COM	58463J304	4,442	347,320	SH		SOLE		347,320	0	0
MID AMERICA APARTMENT COMM	COM	59522J103	1,229	18,000	SH		SOLE		18,000	0	0
MONMOUTH REIT CLASS A	CL A	609720107	239	25,081	SH		SOLE		25,081	0	0
NATIONAL RETAIL PROPERTIES	COM	637417106	4,324	126,000	SH		SOLE		126,000	0	0
NATL HEALTH INVESTORS INC	COM	63633D104	3,565	58,958	SH		SOLE		58,958	0	0
NUVEEN REAL ESTATE INCOME FUND	COM	67071B108	314	29,330	SH		SOLE		29,330	0	0
OMEGA HEALTHCARE INVESTORS	COM	681936100	519	15,498	SH		SOLE		15,498	0	0
PEBBLEBROOK HOTEL TRUST	COM	70509V100	1,455	43,100	SH		SOLE		43,100	0	0
PENN REAL ESTATE INVEST TST	SH BEN INT	709102107	2,114	117,118	SH		SOLE		117,118	0	0
PHYSICIANS REALTY TRUST	COM	71943U104	1,189	85,400	SH		SOLE		85,400	0	0
POST PROPERTIES INC	COM	737464107	717	14,600	SH		SOLE		14,600	0	0
PROLOGIS INC	COM	74340W103	2,004	49,088	SH		SOLE		49,088	0	0
PUBLIC STORAGE	COM	74460D109	1,921	11,400	SH		SOLE		11,400	0	0
RAMCO GERSHENSON PROPERTIES TR	COM SH BEN INT	751452202	2,265	138,928	SH		SOLE		138,928	0	0
REALTY INCOME CORP	COM	756109104	2,121	51,900	SH		SOLE		51,900	0	0
REGENCY CENTERS CORP	COM	758849103	255	5,000	SH		SOLE		5,000	0	0
RETAIL PROPERTIES OF AME A	CL A	76131V202	677	50,000	SH		SOLE		50,000	0	0
RLJ LODGING TRUST	COM	74965L101	1,054	39,400	SH		SOLE		39,400	0	0
RYMAN HOSPITALITY PROPERTIES	COM	78377T107	255	6,000	SH		SOLE		6,000	0	0
SABRA HEALTH CARE REIT INC	COM	78573L106	1,715	61,500	SH		SOLE		61,500	0	0
SIMON PROPERTY GROUP INC	COM	828806109	4,793	29,227	SH		SOLE		29,227	0	0
SL GREEN REALTY CORP	COM	78440X101	2,304	22,900	SH		SOLE		22,900	0	0
SPIRIT REALTY CAPITAL INC	COM	84860W102	230	20,952	SH		SOLE		20,952	0	0
STAG INDUSTRIAL INC	COM	85254J102	1,957	81,209	SH		SOLE		81,209	0	0
STARWOOD HOTELS + RESORTS	COM	85590A401	796	10,000	SH		SOLE		10,000	0	0
SUMMIT HOTEL PROPERTIES INC	COM	866082100	540	58,203	SH		SOLE		58,203	0	0
SUN COMMUNITIES INC	COM	866674104	2,807	62,256	SH		SOLE		62,256	0	0
SUNSTONE HOTEL INVESTORS INC	CV 8% CUM PFD-D	867892507	2,805	108,739	SH		SOLE		108,739	0	0
SUPERTEL HOSPITALITY INC	COM NEW	868526401	19	10,580	SH		SOLE		10,580	0	0
TAUBMAN CENTERS INC	COM	876664103	354	5,000	SH		SOLE		5,000	0	0
UDR INC	COM	902653104	1,007	39,000	SH		SOLE		39,000	0	0
UMH PROPERTIES INC	CV RED PFD A	903002202	971	37,500	SH		SOLE		37,500	0	0
UMH PROPERTIES INC	COM	903002103	537	54,896	SH		SOLE		54,896	0	0
URSTADT BIDDLE PROPERTIES, INC.	CL A	917286205	866	41,900	SH		SOLE		41,900	0	0
VENTAS INC	COM	92276F100	5,270	87,000	SH		SOLE		87,000	0	0
VORNADO REALTY TRUST	SH BEN INT	929042109	4,715	47,835	SH		SOLE		47,835	0	0
WASHINGTON REIT	SH BEN INT	939653101	669	28,000	SH		SOLE		28,000	0	0
WEINGARTEN REALTY INVESTORS	SH BEN INT	948741103	2,295	76,500	SH		SOLE		76,500	0	0
WHITESTONE REIT	COM	966084204	845	58,502	SH		SOLE		58,502	0	0
WP CAREY INC	COM	92936U109	299	5,000	SH		SOLE		5,000	0	0