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	3,343	34,100	SH		SOLE		34,100	0	0
AMERICAN CAMPUS COMMUNITIES	COM	024835100	1,110	25,900	SH		SOLE		25,900	0	0
AMERICAN REALTY CAPITAL PROP	COM	02917T104	2,154	218,716	SH		SOLE		218,716	0	0
ANNALY CAPITAL MANAGEMENT IN	COM	035710409	884	85,000	SH		SOLE		85,000	0	0
APARTMENT INVT + MGMT CO A	CL A	03748R101	1,131	28,745	SH		SOLE		28,745	0	0
ARMOUR RESIDENTIAL REIT INC	COM	042315101	856	270,000	SH		SOLE		270,000	0	0
ASHFORD HOSPITALITY PRIME IN	COM	044102101	184	11,000	SH		SOLE		11,000	0	0
ASHFORD HOSPITALITY TRUST	COM SHS	044103109	1,010	105,000	SH		SOLE		105,000	0	0
ASHFORD HOSPITALITY TRUST	9% CUM PFD SER E	044103505	1,197	45,000	SH		SOLE		45,000	0	0
ASSOCIATED ESTATES REALTY CP	COM	045604105	5,583	226,231	SH		SOLE		226,231	0	0
AVALONBAY COMMUNITIES INC	COM	053484101	4,683	26,875	SH		SOLE		26,875	0	0
BEAZER HOMES USA INC	COM NEW	07556Q881	124	7,000	SH		SOLE		7,000	0	0
BIOMED REALTY TRUST INC	COM	09063H107	1,473	65,000	SH		SOLE		65,000	0	0
BLACKROCK CREDIT ALL INC TR	COM	092508100	262	19,451	SH		SOLE		19,451	0	0
BLUEROCK RESIDENTIAL GROWTH	COM CL A	09627J102	2,666	200,000	SH		SOLE		200,000	0	0
BOSTON PROPERTIES INC	COM	101121101	3,386	24,100	SH		SOLE		24,100	0	0
BRANDYWINE REALTY TRUST	SH BEN INT NEW	105368203	2,641	165,300	SH		SOLE		165,300	0	0
CAMDEN PROPERTY TRUST	SH BEN INT	133131102	391	5,000	SH		SOLE		5,000	0	0
CAMPUS CREST COMMUNITIES INC	COM	13466Y105	241	33,628	SH		SOLE		33,628	0	0
CBL + ASSOCIATES PROPERTIES	COM	124830100	1,663	84,000	SH		SOLE		84,000	0	0
CEDAR REALTY TRUST INC	COM New	150602209	776	103,627	SH		SOLE		103,627	0	0
CHAMBERS STREET PROPERTIES	COM	157842105	1,144	145,172	SH		SOLE		145,172	0	0
CHATHAM LODGING TRUST	COM	16208T102	1,353	46,000	SH		SOLE		46,000	0	0
CHESAPEAKE LODGING TRUST	SH BEN INT	165240102	2,426	71,700	SH		SOLE		71,700	0	0
CITY OFFICE REIT INC	COM	178587101	1,272	99,900	SH		SOLE		99,900	0	0
COHEN + STEERS QUALITY RLTY	COM	19247L106	1,246	100,297	SH		SOLE		100,297	0	0
CORPORATE OFFICE PROPERTIES	SH BEN INT	22002T108	2,013	68,500	SH		SOLE		68,500	0	0
CUBESMART	COM	229663109	362	15,000	SH		SOLE		15,000	0	0
DCT INDUSTRIAL TRUST INC	COM NEW	233153204	827	23,862	SH		SOLE		23,862	0	0
DDR CORP	COM	23317H102	1,154	62,000	SH		SOLE		62,000	0	0
DIAMONDROCK HOSPITALITY CO	COM	252784301	786	55,603	SH		SOLE		55,603	0	0
DIGITAL REALTY TRUST INC	COM	253868103	2,375	36,000	SH		SOLE		36,000	0	0
DOUGLAS EMMETT INC	COM	25960P109	1,172	39,322	SH		SOLE		39,322	0	0
DUKE REALTY CORP	COM NEW	264411505	1,004	46,100	SH		SOLE		46,100	0	0
DUPONT FABROS TECHNOLOGY	COM	26613Q106	670	20,500	SH		SOLE		20,500	0	0
EASTGROUP PROPERTIES INC	COM	277276101	311	5,179	SH		SOLE		5,179	0	0
EATON VANCE ENHANCED EQUITY IN	COM	278277108	500	35,188	SH		SOLE		35,188	0	0
EPR PROPERTIES	COM SH BEN INT	26884U109	5,880	97,950	SH		SOLE		97,950	0	0
EPR PROPERTIES	CONV PFD 9% SR E	26884U307	557	16,400	SH		SOLE		16,400	0	0
EQUITY RESIDENTIAL	SH BEN INT	29476L107	5,762	74,000	SH		SOLE		74,000	0	0
ESSEX PROPERTY TRUST INC	COM	297178105	2,414	10,500	SH		SOLE		10,500	0	0
EXCEL TRUST INC	COM	30068C109	1,592	113,568	SH		SOLE		113,568	0	0
FARMLAND PARTNERS INC	COM	31154R109	528	45,000	SH		SOLE		45,000	0	0
FELCOR LODGING TRUST INC	PFD CV A $1.95	31430F200	1,922	73,500	SH		SOLE		73,500	0	0
FIRST POTOMAC REALTY TRUST	COM	33610F109	1,170	98,364	SH		SOLE		98,364	0	0
GENERAL GROWTH PROPERTIES	COM	370023103	591	20,000	SH		SOLE		20,000	0	0
GETTY REALTY CORP	COM	374297109	400	22,000	SH		SOLE		22,000	0	0
GLADSTONE COMMERCIAL CORP	COM	376536108	423	22,742	SH		SOLE		22,742	0	0
HCP INC	COM	40414L109	5,467	126,530	SH		SOLE		126,530	0	0
HEALTH CARE REIT INC	COM	42217K106	2,259	29,200	SH		SOLE		29,200	0	0
HEALTHCARE REALTY TRUST INC	COM	421946104	1,120	40,300	SH		SOLE		40,300	0	0
HERSHA HOSPITALITY TRUST	SH BEN INT A	427825104	2,527	390,583	SH		SOLE		390,583	0	0
HIGHWOODS PROPERTIES INC	COM	431284108	2,289	50,000	SH		SOLE		50,000	0	0
HOME PROPERTIES INC	COM	437306103	818	11,800	SH		SOLE		11,800	0	0
HOST HOTELS + RESORTS INC	COM	44107P104	484	24,000	SH		SOLE		24,000	0	0
INDEPENDENCE REALTY TRUST IN	COM	45378A106	3,708	390,709	SH		SOLE		390,709	0	0
INLAND REAL ESTATE CORP	COM NEW	457461200	1,671	156,300	SH		SOLE		156,300	0	0
INVESTORS REAL ESTATE TRUST	SH BEN INT	461730103	471	62,810	SH		SOLE		62,810	0	0
KILROY REALTY CORP	COM	49427F108	2,178	28,600	SH		SOLE		28,600	0	0
KIMCO REALTY CORP	COM	49446R109	2,954	110,000	SH		SOLE		110,000	0	0
KITE REALTY GROUP TRUST	COM NEW	49803T300	1,130	40,125	SH		SOLE		40,125	0	0
LASALLE HOTEL PROPERTIES	COM SH BEN INT	517942108	389	10,000	SH		SOLE		10,000	0	0
LEXINGTON REALTY TRUST	COM	529043101	3,333	339,058	SH		SOLE		339,058	0	0
LIBERTY PROPERTY TRUST	SH BEN INT	531172104	2,311	64,737	SH		SOLE		64,737	0	0
LTC PROPERTIES INC	COM	502175102	2,709	58,897	SH		SOLE		58,897	0	0
MACERICH CO/THE	COM	554382101	2,401	28,470	SH		SOLE		28,470	0	0
MACK CALI REALTY CORP	COM	554489104	1,119	58,030	SH		SOLE		58,030	0	0
MEDICAL PROPERTIES TRUST INC	COM	58463J304	5,193	352,320	SH		SOLE		352,320	0	0
MID AMERICA APARTMENT COMM	COM	59522J103	1,391	18,000	SH		SOLE		18,000	0	0
NATIONAL RETAIL PROPERTIES	COM	637417106	5,162	126,000	SH		SOLE		126,000	0	0
NATL HEALTH INVESTORS INC	COM	63633D104	4,187	58,958	SH		SOLE		58,958	0	0
NORTHSTAR REALTY FINANCE	COM NEW	66704R704	181	10,000	SH		SOLE		10,000	0	0
NUVEEN REAL ESTATE INCOME FUND	COM	67071B108	153	12,861	SH		SOLE		12,861	0	0
OMEGA HEALTHCARE INVESTORS	COM	681936100	970	23,898	SH		SOLE		23,898	0	0
ONE LIBERTY PROPERTIES INC	COM	682406103	278	11,391	SH		SOLE		11,391	0	0
PEAK RESORTS INC	COM	70469L100	308	50,000	SH		SOLE		50,000	0	0
PEBBLEBROOK HOTEL TRUST	COM	70509V100	2,007	43,100	SH		SOLE		43,100	0	0
PENN REAL ESTATE INVEST TST	SH BEN INT	709102107	2,965	127,628	SH		SOLE		127,628	0	0
PHYSICIANS REALTY TRUST	COM	71943U104	2,148	121,990	SH		SOLE		121,990	0	0
PIEDMONT OFFICE REALTY TRU A	COM CL A	720190206	106	5,698	SH		SOLE		5,698	0	0
POST PROPERTIES INC	COM	737464107	831	14,600	SH		SOLE		14,600	0	0
PROLOGIS INC	COM	74340W103	2,138	49,088	SH		SOLE		49,088	0	0
PUBLIC STORAGE	COM	74460D109	2,247	11,400	SH		SOLE		11,400	0	0
RAIT FINANCIAL TRUST	COM NEW	749227609	529	77,166	SH		SOLE		77,166	0	0
REALTY INCOME CORP	COM	756109104	2,678	51,900	SH		SOLE		51,900	0	0
REXFORD INDUSTRIAL REALTY IN	COM	76169C100	158	10,000	SH		SOLE		10,000	0	0
RLJ LODGING TRUST	COM	74965L101	1,390	44,400	SH		SOLE		44,400	0	0
SABRA HEALTH CARE REIT INC	COM	78573L106	2,561	77,254	SH		SOLE		77,254	0	0
SIMON PROPERTY GROUP INC	COM	828806109	5,718	29,227	SH		SOLE		29,227	0	0
SL GREEN REALTY CORP	COM	78440X101	2,940	22,900	SH		SOLE		22,900	0	0
SOVRAN SELF STORAGE INC	COM	84610H108	235	2,500	SH		SOLE		2,500	0	0
STAG INDUSTRIAL INC	COM	85254J102	3,556	151,209	SH		SOLE		151,209	0	0
SUMMIT HOTEL PROPERTIES INC	COM	866082100	1,382	98,203	SH		SOLE		98,203	0	0
SUN COMMUNITIES INC	COM	866674104	4,527	67,856	SH		SOLE		67,856	0	0
SUNSTONE HOTEL INVESTORS INC	CV 8% CUM PFD-D	867892507	2,838	108,739	SH		SOLE		108,739	0	0
SUPERTEL HOSPITALITY INC	COM	86852R108	36	21,160	SH		SOLE		21,160	0	0
UDR INC	COM	902653104	1,327	39,000	SH		SOLE		39,000	0	0
UMH PROPERTIES INC	CV RED PFD-A	903002202	973	37,500	SH		SOLE		37,500	0	0
UMH PROPERTIES INC	COM	903002103	1,589	157,809	SH		SOLE		157,809	0	0
VENTAS INC	COM	92276F100	6,024	82,500	SH		SOLE		82,500	0	0
VORNADO REALTY TRUST	SH BEN INT	929042109	5,358	47,835	SH		SOLE		47,835	0	0
WASHINGTON REIT	SH BEN INT	939653101	774	28,000	SH		SOLE		28,000	0	0
WEINGARTEN REALTY INVESTORS	SH BEN INT	948741103	2,753	76,500	SH		SOLE		76,500	0	0
WHITESTONE REIT	COM	966084204	929	58,502	SH		SOLE		58,502	0	0
WP GLIMCHER INC	COM	92939N102	1,649	99,148	SH		SOLE		99,148	0	0