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
AGREE REALTY CORP	COM	008492100	526	19,216	SH		SOLE		19,216	0	0
ALEXANDRIA REAL ESTATE EQUIT	COM	015271109	2,515	34,100	SH		SOLE		34,100	0	0
AMERICAN CAMPUS COMMUNITIES	COM	024835100	944	25,900	SH		SOLE		25,900	0	0
AMERICAN REALTY CAPITAL PROP	COM	02917T104	2,638	218,716	SH		SOLE		218,716	0	0
ANNALY CAPITAL MANAGEMENT IN	COM	035710409	908	85,000	SH		SOLE		85,000	0	0
APARTMENT INVT + MGMT CO A	CL A	03748R101	915	28,745	SH		SOLE		28,745	0	0
ARMADA HOFFLER PROPERTIES IN	COM	04208T108	454	50,000	SH		SOLE		50,000	0	0
ARMOUR RESIDENTIAL REIT INC	COM	042315101	462	120,000	SH		SOLE		120,000	0	0
ASHFORD HOSPITALITY PRIME IN	COM	044102101	168	11,000	SH		SOLE		11,000	0	0
ASHFORD HOSPITALITY TRUST	COM SHS	044103109	562	55,000	SH		SOLE		55,000	0	0
ASHFORD HOSPITALITY TRUST	9% CUM PFD SER E	044103505	1,221	45,000	SH		SOLE		45,000	0	0
ASSOCIATED ESTATES REALTY CP	COM	045604105	3,961	226,231	SH		SOLE		226,231	0	0
AVALONBAY COMMUNITIES INC	COM	053484101	3,789	26,875	SH		SOLE		26,875	0	0
BEAZER HOMES USA INC	COM NEW	07556Q881	117	7,000	SH		SOLE		7,000	0	0
BIOMED REALTY TRUST INC	COM	09063H107	1,313	65,000	SH		SOLE		65,000	0	0
BLACKROCK CREDIT ALL INC TR	COM	092508100	259	19,451	SH		SOLE		19,451	0	0
BOSTON PROPERTIES INC	COM	101121101	2,373	20,500	SH		SOLE		20,500	0	0
BRANDYWINE REALTY TRUST	SH BEN INT NEW	105368203	2,326	165,300	SH		SOLE		165,300	0	0
CAMDEN PROPERTY TRUST	SH BEN INT	133131102	343	5,000	SH		SOLE		5,000	0	0
CAMPUS CREST COMMUNITIES INC	COM	13466Y105	215	33,628	SH		SOLE		33,628	0	0
CBL + ASSOCIATES PROPERTIES	COM	124830100	1,504	84,000	SH		SOLE		84,000	0	0
CEDAR REALTY TRUST INC	COM New	150602209	611	103,627	SH		SOLE		103,627	0	0
CHAMBERS STREET PROPERTIES	COM	157842105	677	89,900	SH		SOLE		89,900	0	0
CHATHAM LODGING TRUST	COM	16208T102	1,062	46,000	SH		SOLE		46,000	0	0
CHESAPEAKE LODGING TRUST	SH BEN INT	165240102	2,090	71,700	SH		SOLE		71,700	0	0
CITY OFFICE REIT INC	COM	178587101	1,086	80,000	SH		SOLE		80,000	0	0
COHEN + STEERS QUALITY RLTY	COM	19247L106	1,066	100,297	SH		SOLE		100,297	0	0
CORPORATE OFFICE PROPERTIES	SH BEN INT	22002T108	1,247	48,500	SH		SOLE		48,500	0	0
CUBESMART	COM	229663109	270	15,000	SH		SOLE		15,000	0	0
DCT INDUSTRIAL TRUST INC	COM	233153105	1,122	149,450	SH		SOLE		149,450	0	0
DDR CORP	COM	23317H102	1,037	62,000	SH		SOLE		62,000	0	0
DIAMONDROCK HOSPITALITY CO	COM	252784301	705	55,603	SH		SOLE		55,603	0	0
DIGITAL REALTY TRUST INC	COM	253868103	2,246	36,000	SH		SOLE		36,000	0	0
DOUGLAS EMMETT INC	COM	25960P109	1,009	39,322	SH		SOLE		39,322	0	0
DUKE REALTY CORP	COM NEW	264411505	792	46,100	SH		SOLE		46,100	0	0
DUPONT FABROS TECHNOLOGY	COM	26613Q106	554	20,500	SH		SOLE		20,500	0	0
EASTGROUP PROPERTIES INC	COM	277276101	314	5,179	SH		SOLE		5,179	0	0
EATON VANCE ENHANCED EQUITY IN	COM	278277108	479	35,188	SH		SOLE		35,188	0	0
EPR PROPERTIES	COM SH BEN INT	26884U109	4,964	97,950	SH		SOLE		97,950	0	0
EPR PROPERTIES	CONV PFD 9% SR E	26884U307	500	16,400	SH		SOLE		16,400	0	0
EQUITY RESIDENTIAL	SH BEN INT	29476L107	4,557	74,000	SH		SOLE		74,000	0	0
ESSEX PROPERTY TRUST INC	COM	297178105	1,877	10,500	SH		SOLE		10,500	0	0
EXCEL TRUST INC	COM	30068C109	1,337	113,568	SH		SOLE		113,568	0	0
FARMLAND PARTNERS INC	COM	31154R109	495	45,000	SH		SOLE		45,000	0	0
FELCOR LODGING TRUST INC	PFD CV A $1.95	31430F200	1,897	73,500	SH		SOLE		73,500	0	0
FIRST POTOMAC REALTY TRUST	COM	33610F109	780	66,365	SH		SOLE		66,365	0	0
FRANKLIN STREET PROPERTIES C	COM	35471R106	707	62,990	SH		SOLE		62,990	0	0
GENERAL GROWTH PROPERTIES	COM	370023103	471	20,000	SH		SOLE		20,000	0	0
GETTY REALTY CORP	COM	374297109	374	22,000	SH		SOLE		22,000	0	0
GLADSTONE COMMERCIAL CORP	COM	376536108	386	22,742	SH		SOLE		22,742	0	0
GLIMCHER REALTY TRUST	SH BEN INT	379302102	2,731	201,700	SH		SOLE		201,700	0	0
GRAMERCY PROPERTY TRUST INC	COM	38489R100	288	50,000	SH		SOLE		50,000	0	0
HCP INC	COM	40414L109	4,627	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	954	40,300	SH		SOLE		40,300	0	0
HERSHA HOSPITALITY TRUST	SH BEN INT A	427825104	2,488	390,583	SH		SOLE		390,583	0	0
HIGHWOODS PROPERTIES INC	COM	431284108	1,945	50,000	SH		SOLE		50,000	0	0
HOME PROPERTIES INC	COM	437306103	815	14,000	SH		SOLE		14,000	0	0
HOST HOTELS + RESORTS INC	COM	44107P104	512	24,000	SH		SOLE		24,000	0	0
INDEPENDENCE REALTY TRUST IN	COM	45378A106	2,551	263,514	SH		SOLE		263,514	0	0
INLAND REAL ESTATE CORP	COM NEW	457461200	1,549	156,300	SH		SOLE		156,300	0	0
INVESTORS REAL ESTATE TRUST	SH BEN INT	461730103	483	62,746	SH		SOLE		62,746	0	0
KILROY REALTY CORP	COM	49427F108	1,700	28,600	SH		SOLE		28,600	0	0
KIMCO REALTY CORP	COM	49446R109	2,410	110,000	SH		SOLE		110,000	0	0
KITE REALTY GROUP TRUST	COM NEW	49803T300	973	40,125	SH		SOLE		40,125	0	0
LASALLE HOTEL PROPERTIES	COM SH BEN INT	517942108	342	10,000	SH		SOLE		10,000	0	0
LEXINGTON REALTY TRUST	COM	529043101	3,319	339,058	SH		SOLE		339,058	0	0
LIBERTY PROPERTY TRUST	SH BEN INT	531172104	2,319	69,737	SH		SOLE		69,737	0	0
LTC PROPERTIES INC	COM	502175102	2,173	58,897	SH		SOLE		58,897	0	0
MACERICH CO/THE	COM	554382101	1,817	28,470	SH		SOLE		28,470	0	0
MACK CALI REALTY CORP	COM	554489104	1,109	58,030	SH		SOLE		58,030	0	0
MEDICAL PROPERTIES TRUST INC	COM	58463J304	4,503	367,320	SH		SOLE		367,320	0	0
MID AMERICA APARTMENT COMM	COM	59522J103	1,182	18,000	SH		SOLE		18,000	0	0
NATIONAL RETAIL PROPERTIES	COM	637417106	4,356	126,000	SH		SOLE		126,000	0	0
NATL HEALTH INVESTORS INC	COM	63633D104	3,369	58,958	SH		SOLE		58,958	0	0
NUVEEN REAL ESTATE INCOME FUND	COM	67071B108	698	66,375	SH		SOLE		66,375	0	0
OMEGA HEALTHCARE INVESTORS	COM	681936100	530	15,498	SH		SOLE		15,498	0	0
ONE LIBERTY PROPERTIES INC	COM	682406103	230	11,391	SH		SOLE		11,391	0	0
PEBBLEBROOK HOTEL TRUST	COM	70509V100	1,609	43,100	SH		SOLE		43,100	0	0
PENN REAL ESTATE INVEST TST	SH BEN INT	709102107	2,545	127,628	SH		SOLE		127,628	0	0
PHYSICIANS REALTY TRUST	COM	71943U104	1,943	141,648	SH		SOLE		141,648	0	0
POST PROPERTIES INC	COM	737464107	750	14,600	SH		SOLE		14,600	0	0
PROLOGIS INC	COM	74340W103	1,851	49,088	SH		SOLE		49,088	0	0
PUBLIC STORAGE	COM	74460D109	1,891	11,400	SH		SOLE		11,400	0	0
RAIT FINANCIAL TRUST	COM NEW	749227609	276	37,166	SH		SOLE		37,166	0	0
REALTY INCOME CORP	COM	756109104	2,117	51,900	SH		SOLE		51,900	0	0
RETAIL OPPORTUNITY INVESTMEN	COM	76131N101	515	35,000	SH		SOLE		35,000	0	0
RETAIL PROPERTIES OF AME A	CL A	76131V202	358	24,500	SH		SOLE		24,500	0	0
REXFORD INDUSTRIAL REALTY IN	COM	76169C100	138	10,000	SH		SOLE		10,000	0	0
RLJ LODGING TRUST	COM	74965L101	1,264	44,400	SH		SOLE		44,400	0	0
SABRA HEALTH CARE REIT INC	COM	78573L106	1,496	61,500	SH		SOLE		61,500	0	0
SIMON PROPERTY GROUP INC	COM	828806109	4,806	29,227	SH		SOLE		29,227	0	0
SL GREEN REALTY CORP	COM	78440X101	2,320	22,900	SH		SOLE		22,900	0	0
STAG INDUSTRIAL INC	COM	85254J102	1,682	81,209	SH		SOLE		81,209	0	0
SUMMIT HOTEL PROPERTIES INC	COM	866082100	1,059	98,203	SH		SOLE		98,203	0	0
SUN COMMUNITIES INC	COM	866674104	3,427	67,856	SH		SOLE		67,856	0	0
SUNSTONE HOTEL INVESTORS INC	CV 8% CUM PFD-D	867892507	2,939	108,739	SH		SOLE		108,739	0	0
SUPERTEL HOSPITALITY INC	COM NEW	868526401	47	21,160	SH		SOLE		21,160	0	0
TAUBMAN CENTERS INC	COM	876664103	365	5,000	SH		SOLE		5,000	0	0
UDR INC	COM	902653104	1,063	39,000	SH		SOLE		39,000	0	0
UMH PROPERTIES INC	CV RED PFD-A	903002202	983	37,500	SH		SOLE		37,500	0	0
UMH PROPERTIES INC	COM	903002103	1,004	105,693	SH		SOLE		105,693	0	0
URSTADT BIDDLE PROPERTIES, INC.	CL A	917286205	4	200	SH		SOLE		200	0	0
VENTAS INC	COM	92276F100	5,359	86,500	SH		SOLE		86,500	0	0
VORNADO REALTY TRUST	SH BEN INT	929042109	4,782	47,835	SH		SOLE		47,835	0	0
WASHINGTON PRIME GROUP	COM	939647103	684	39,148	SH		SOLE		39,148	0	0
WASHINGTON REIT	SH BEN INT	939653101	710	28,000	SH		SOLE		28,000	0	0
WEINGARTEN REALTY INVESTORS	SH BEN INT	948741103	2,410	76,500	SH		SOLE		76,500	0	0
WHITESTONE REIT	COM	966084204	815	58,502	SH		SOLE		58,502	0	0
WP CAREY INC	COM	92936U109	701	11,000	SH		SOLE		11,000	0	0