United States Securities and Exchange Commission Washington, D.C. 20549 Form N-CSR Certified Shareholder Report of Registered Management Investment Companies 811-09481 (Investment Company Act File Number) HUNTINGTON VA FUNDS (Exact Name of Registrant as Specified in Charter) 5800 Corporate Drive Pittsburgh, Pennsylvania 15237-7010 (Address of Principal Executive Offices) 1-800-544-8347 (Registrant's Telephone Number) Ronald J. Corn, Esq. The Huntington National Bank 41 South High Street Columbus, Ohio 43287 (Name and Address of Agent for Service) (Notices should be sent to the Agent for Service) Copies to: Alyssa Albertelli, Esq. Ropes & Gray One Franklin Square 1301 K Street, N.W. Suite 800 East Washington, DC 20005 Date of Fiscal Year End: December 31, 2003 Date of Reporting Period: Six months ended June 30, 2003 Item 1. Reports to Stockholders
Huntington VA Growth Fund
Portfolio of Investments
June 30, 2003 (Unaudited)
Shares |
|
| Value | |
---|---|---|---|---|
COMMON STOCKS -- 91.4% | ||||
Apparel & Textiles -- 1.9% | ||||
3,750 | Cintas Corp. | $ 132,900 | ||
Banks -- 8.1% | ||||
3,852 | BB&T Corp. | 132,124 | ||
5,418 | Citigroup, Inc. | 231,890 | ||
1,933 | State Street Corp. | 76,160 | ||
3,383 | Washington Mutual, Inc. | 139,718 | ||
579,892 | ||||
Broadcast Services & Programming -- 0.8% | ||||
4,923 | Liberty Media Corp., Class A (b) | 56,910 | ||
Chemicals -- 3.4% | ||||
3,925 | Du Pont (E.I.) de Nemours & Co. | 163,437 | ||
3,149 | Ecolab, Inc. | 80,614 | ||
244,051 | ||||
Computer Services -- 0.5% | ||||
1,393 | Sungard Data Systems, Inc. (b) | 36,093 | ||
Computers -- 8.5% | ||||
1,094 | Cisco Systems, Inc. (b) | 18,259 | ||
647 | Computer Sciences Corp. (b) | 24,664 | ||
1,698 | Dell Computer Corp. (b) | 54,268 | ||
235 | Electronic Data Systems Corp. | 5,041 | ||
620 | EMC Corp. (b) | 6,491 | ||
3,712 | Hewlett Packard Co. | 79,066 | ||
1,399 | International Business Machines Corp. | 115,418 | ||
7,308 | Microsoft Corp. | 187,157 | ||
342 | Network Appliance, Inc. (b) | 5,544 | ||
8,620 | Oracle Corp. (b) | 103,612 | ||
859 | Sun Microsystems, Inc. (b) | 3,951 | ||
603,471 | ||||
Cosmetics/Toiletries -- 2.6% | ||||
2,088 | Colgate-Palmolive Co. | 120,999 | ||
754 | Procter & Gamble Co. | 67,242 | ||
188,241 | ||||
Drugs & Health Care -- 8.3% | ||||
2,691 | Abbott Laboratories, Inc. | 117,758 | ||
2,290 | IMS Health, Inc. | 41,197 | ||
2,062 | Merck & Co., Inc. | 124,854 | ||
6,352 | Pfizer, Inc. | 216,921 | ||
1,483 | Schering-Plough Corp. | 27,584 | ||
1,355 | Wyeth | 61,720 | ||
590,034 | ||||
Electric Utility -- 0.1% | ||||
187 | Duke Energy Corp. | 3,731 | ||
Electronic Components/Instruments -- 0.1% | ||||
2,201 | Solectron Corp. (b) | 8,232 | ||
Financial Services -- 6.0% | ||||
3,591 | American Express Co. | 150,139 | ||
1,296 | Fannie Mae | 87,402 | ||
2,169 | Franklin Resources, Inc. | 84,743 | ||
2,854 | T. Rowe Price Group, Inc. | 107,739 | ||
430,023 | ||||
Food & Beverages--1.4% | ||||
12 | J.M. Smuckers Co. | $ 479 | ||
165 | Tyson Foods, Inc., Class A | 1,752 | ||
1,800 | Wm. Wrigley Jr. Co. | 101,214 | ||
103,445 | ||||
Industrial Conglomerates -- 6.5% | ||||
11,235 | General Electric Co. | 322,220 | ||
2,206 | Illinois Tool Works, Inc. | 145,265 | ||
467,485 | ||||
Instruments - Scientific -- 0.2% | ||||
378 | Millipore Corp. (b) | 16,772 | ||
Insurance -- 4.0% | ||||
2,578 | American International Group, Inc. | 142,254 | ||
2 | Berkshire Hathaway, Inc., Class A (b) | 145,000 | ||
287,254 | ||||
Medical & Medical Services -- 5.0% | ||||
1,272 | Cardinal Health, Inc. | 81,790 | ||
2,827 | Johnson & Johnson, Inc. | 146,155 | ||
2,015 | Medtronic, Inc. | 96,660 | ||
515 | Stryker Corp. | 35,726 | ||
360,331 | ||||
Miscellaneous Business Services -- 3.7% | ||||
7,887 | Automatic Data Processing, Inc. | 267,054 | ||
Multimedia -- 0.8% | ||||
3,787 | AOL Time Warner, Inc. (b) | 60,933 | ||
Office Supplies -- 2.3% | ||||
3,337 | Avery Dennison Corp. | 167,517 | ||
Petroleum & Petroleum Products -- 6.3% | ||||
5,517 | Anadarko Petroleum Corp. | 245,341 | ||
4,333 | Schlumberger, Ltd. | 206,121 | ||
451,462 | ||||
Printing & Publishing -- 2.4% | ||||
1,601 | Media General, Inc., Class A | 91,577 | ||
1,798 | Viacom, Inc., Class B (b) | 78,501 | ||
170,078 | ||||
Property & Casualty Insurance -- 0.4% | ||||
1,327 | Travelers Property Casualty Corp., Class A | 21,099 | ||
487 | Travelers Property Casualty Corp., Class B | 7,680 | ||
28,779 | ||||
Retail -- 8.5% | ||||
6,278 | Home Depot, Inc. | 207,927 | ||
3,839 | Kohl's Corp. (b) | 197,248 | ||
1,441 | Wal-Mart Stores, Inc. | 77,338 | ||
4,060 | Walgreen Co. | 122,206 | ||
604,719 | ||||
Semi-Conductors/Instruments -- 3.0% | ||||
3,784 | Analog Devices, Inc. (b) | 131,759 | ||
663 | Applied Materials, Inc. (b) | 10,515 | ||
3,074 | Intel Corp. | 63,890 | ||
618 | Texas Instruments, Inc. | 10,877 | ||
217,041 | ||||
COMMON STOCKS -- (continued) | ||||
Telephone & Telecommunications -- 3.2% | ||||
565 | Qualcomm, Inc. | $ 20,199 | ||
4,301 | Verizon Communications, Inc. | 169,674 | ||
2,198 | Vodafone Group PLC, ADR | 43,191 | ||
233,064 | ||||
Transport - Marine -- 0.7% | ||||
1,539 | Carnival Corp. | 50,033 | ||
Wholesale Distribution -- 2.7% | ||||
6,525 | SYSCO Corp. | 196,011 | ||
Total Common Stocks (Cost $6,710,720) | 6,555,556 | |||
MUTUAL FUNDS -- 2.5% | ||||
Exchange Traded Funds -- 2.5% | ||||
2,675 | Nasdaq 100 Index Fund | $ 80,116 | ||
1,020 | SPDR Trust Series 1 | 99,583 | ||
Total Mutual Funds (Cost $177,194) | 179,699 | |||
CASH EQUIVALENT -- 12.9% | ||||
924,940 | Huntington Money Market Fund, Interfund Class* | 924,940 | ||
Total Cash Equivalent (Cost $924,940) | 924,940 | |||
Total (Cost $7,812,854) (a) | $ 7,660,195 | |||
Huntington VA Income Equity Fund
Portfolio of Investments
June 30, 2003 (Unaudited)
Shares |
| Value | ||
---|---|---|---|---|
COMMON STOCKS -- 85.1% | ||||
Amusement & Recreation Services -- 1.8% | ||||
9,400 | Cedar Fair, LP | $ 263,200 | ||
Auto/Truck Parts & Equipment -- 1.9% | ||||
4,100 | General Motors Corp. | 147,600 | ||
4,200 | Genuine Parts Co. | 134,442 | ||
282,042 | ||||
Banks -- 14.1% | ||||
3,375 | Bank of America Corp. | 266,726 | ||
4,800 | BB&T Corp. | 164,640 | ||
4,100 | Citigroup, Inc. | 175,480 | ||
6,000 | FleetBoston Financial Corp. | 178,260 | ||
4,325 | J.P. Morgan Chase & Co. | 147,829 | ||
7,950 | National City Corp. | 260,045 | ||
11,100 | U.S. Bancorp | 271,949 | ||
4,800 | Wachovia Corp. | 191,808 | ||
9,607 | Washington Federal, Inc. | 222,210 | ||
5,250 | Washington Mutual, Inc. | 216,825 | ||
2,095,772 | ||||
Capital Goods -- 2.0% | ||||
4,800 | Black & Decker Corp. | 208,560 | ||
2,000 | Diebold, Inc. | 86,500 | ||
295,060 | ||||
Chemicals -- 3.7% | ||||
3,480 | Du Pont (E.I.) de Nemours & Co. | 144,907 | ||
8,050 | Eastman Chemical Co. | 254,944 | ||
3,000 | PPG Industries, Inc. | 152,220 | ||
552,071 | ||||
Computer Services -- 0.7% | ||||
2,600 | Pitney Bowes, Inc. | 99,866 | ||
Diversified Operations -- 1.9% | ||||
5,900 | Acuity Brands, Inc. | 107,203 | ||
9,500 | Federal Signal Corp. | 166,915 | ||
274,118 | ||||
Drugs & Health Care -- 3.5% | ||||
2,500 | Abbott Laboratories, Inc. | 109,400 | ||
4,950 | Bristol-Myers Squibb Co. | 134,393 | ||
8,000 | Schering-Plough Corp. | 148,799 | ||
2,650 | Wyeth | 120,708 | ||
513,300 | ||||
Electric, Gas, & Sanitary Services -- 1.2% | ||||
9,200 | Nisource, Inc. | 174,800 | ||
Electrical Services -- 5.9% | ||||
3,000 | American Electric Power Co., Inc. | 89,490 | ||
4,300 | Cooper Industries Ltd., Class A | 177,590 | ||
5,100 | Emerson Electric Co. | 260,610 | ||
3,700 | Exelon Corp. | 221,297 | ||
10,000 | Teco Energy, Inc. | 119,900 | ||
868,887 | ||||
Food & Beverages -- 3.8% | ||||
5,400 | Conagra Foods, Inc. | $ 127,440 | ||
2,700 | H.J. Heinz Co. | 89,046 | ||
6,400 | SUPERVALU, Inc. | 136,448 | ||
6,000 | UST, Inc. | 210,180 | ||
563,114 | ||||
Gas & Natural Gas -- 1.8% | ||||
1,700 | NICOR, Inc. | 63,087 | ||
4,600 | Peoples Energy Corp. | 197,294 | ||
260,381 | ||||
Household Products -- 4.0% | ||||
1,550 | Clorox Co. | 66,108 | ||
5,900 | Leggett & Platt, Inc. | 120,950 | ||
6,300 | Newell Rubbermaid, Inc. | 176,400 | ||
9,200 | RPM, Inc. | 126,500 | ||
6,850 | Tupperware Corp. | 98,366 | ||
588,324 | ||||
Industrial -- 3.4% | ||||
10,600 | General Electric Co. | 304,008 | ||
9,300 | Standex International Corp. | 195,300 | ||
499,308 | ||||
Insurance -- 3.6% | ||||
1,200 | Cigna Corp. | 56,328 | ||
7,000 | Cincinnati Financial Corp. | 259,630 | ||
6,025 | Lincoln National Corp. | 214,671 | ||
530,629 | ||||
Machinery -- 0.6% | ||||
1,550 | Caterpillar, Inc. | 86,273 | ||
Medical & Medical Services -- 0.6% | ||||
1,800 | Johnson & Johnson, Inc. | 93,060 | ||
Miscellaneous Business Services -- 2.3% | ||||
6,000 | Automatic Data Processing, Inc. | 203,160 | ||
3,000 | Deluxe Corp. | 134,400 | ||
337,560 | ||||
Oil Companies - Integrated -- 2.9% | ||||
4,600 | Kerr-Mcgee Corp. | 206,080 | ||
6,500 | Occidental Petroleum Corp. | 218,075 | ||
424,155 | ||||
Petroleum & Petroleum Products -- 6.4% | ||||
1,562 | ChevronTexaco Corp. | 112,776 | ||
3,917 | ConocoPhillips | 214,652 | ||
6,700 | Exxon Mobil Corp. | 240,597 | ||
4,100 | Royal Dutch Petroleum Co., ADR | 191,142 | ||
4,800 | Sunoco, Inc. | 181,152 | ||
940,319 | ||||
Printing & Publishing -- 0.8% | ||||
4,400 | R.R. Donnelley & Sons Co. | 115,016 | ||
Railroad Equipment -- 1.8% | ||||
15,900 | GATX Corp. | 259,965 | ||
Shares or |
| Value | ||
COMMON STOCKS -- (continued) | ||||
Real Estate Investment Trusts -- 7.9% | ||||
2,550 | General Growth Properties | $ 159,222 | ||
5,200 | Health Care Property Investors, Inc. | 220,220 | ||
7,350 | Mack-Cali Realty Corp. | 267,393 | ||
17,900 | Nationwide Health Properties, Inc. | 285,147 | ||
5,800 | Simon Property Group, Inc. | 226,374 | ||
1,158,356 | ||||
Retail -- 1.4% | ||||
9,515 | May Department Stores Co. | 211,804 | ||
Steel -- 1.0% | ||||
11,400 | Worthington Industries, Inc. | 152,760 | ||
Telephone & Telecommunications -- 3.7% | ||||
4,400 | Alltel Corp. | 212,167 | ||
7,550 | SBC Communications, Inc. | 192,903 | ||
3,471 | Verizon Communications, Inc. | 136,931 | ||
542,001 | ||||
Tools & Accessories -- 2.4% | ||||
5,800 | Snap-On, Inc. | 168,374 | ||
6,700 | Stanley Works, The | 184,920 | ||
353,294 | ||||
Total Common Stocks (Cost $12,262,765) | 12,535,435 | |||
CORPORATE BONDS (1.8%) | ||||
Banks -- 0.4% | ||||
$ 50,000 | Bank One Corp., 8.000%, 4/29/27 | 65,673 | ||
Foreign Banks -- 0.5% | ||||
50,000 | Quebec Province, 7.500%, 9/15/29 | 66,638 | ||
Machinery - Farm -- 0.5% | ||||
50,000 | Deere & Co., 8.100%, 5/15/30 | 67,082 | ||
Telephone & Telecommunications -- 0.4% | ||||
50,000 | Bell Atlantic New Jersey, Inc., 7.850%, 11/15/29 | 64,179 | ||
Total Corporate Bonds (Cost $198,638) | 263,572 | |||
CASH EQUIVALENT -- 12.7% | ||||
1,875,283 | Huntington Money Market Fund, Interfund Class* | 1,875,283 | ||
Total Cash Equivalent (Cost $1,875,283) | 1,875,283 | |||
Total (Cost $14,336,686) (a) | $ 14,674,290 | |||
Huntington VA Rotating Markets Fund
Portfolio of Investments
June 30, 2003 (Unaudited)
Shares |
| Value | ||
---|---|---|---|---|
MUTUAL FUNDS -- 91.7 % | ||||
2,499 | iShares Russell 1000 Growth Fund | $ 102,584 | ||
9,867 | iShares Russell 1000 Index Fund | 513,973 | ||
2,006 | iShares Russell 1000 Value Fund | 101,443 | ||
36 | iShares Russell Midcap Growth Fund | 2,219 | ||
4,172 | iShares S&P 500 Index Fund | 407,938 | ||
2,156 | iShares S&P 500/Barra Fund | 102,841 | ||
2,065 | iShares S&P 500/Barra Growth Index Fund | 102,424 | ||
7,115 | Nasdaq 100 Index Fund | 213,094 | ||
5,248 | SPDR Trust Series 1 | 512,363 | ||
Total Mutual Funds (Cost $1,892,247) | 2,058,879 | |||
CASH EQUIVALENT -- 8.2 % | ||||
183,086 | Huntington Money Market Fund, Interfund Class* | 183,086 | ||
Total Cash Equivalent (Cost $183,086) | 183,086 | |||
Total (Cost $2,075,333) (a) | $ 2,241,965 | |||
Huntington VA Dividend Capture Fund
Portfolio of Investments
June 30, 2003 (Unaudited)
Shares |
| Value | ||
---|---|---|---|---|
COMMON STOCKS -- 54.2 % | ||||
Aerospace & Defense -- 1.0% | ||||
3,000 | Raytheon Co. | $ 98,520 | ||
Agricultural Operations -- 0.5% | ||||
2,250 | Monsanto Co. | 48,690 | ||
Auto/Truck Parts & Equipment -- 1.2% | ||||
4,000 | Delphi Corp. | 34,520 | ||
4,250 | Ford Motor Co. | 46,708 | ||
1,000 | General Motors Corp. | 36,000 | ||
117,228 | ||||
Banks -- 7.4% | ||||
1,750 | Bank of America Corp. | 138,303 | ||
2,100 | Citigroup, Inc. | 89,880 | ||
5,000 | J.P. Morgan Chase & Co. | 170,899 | ||
2,000 | Regions Financial Corp. | 67,560 | ||
2,000 | Union Planters Corp. | 62,060 | ||
2,000 | Wachovia Corp. | 79,920 | ||
1,100 | Washington Federal, Inc. | 25,443 | ||
2,000 | Washington Mutual, Inc. | 82,600 | ||
716,665 | ||||
Chemicals -- 0.6% | ||||
1,100 | PPG Industries, Inc. | 55,814 | ||
Consumer Products/Services -- 0.6% | ||||
1,150 | Fortune Brands, Inc. | 60,030 | ||
Diversified Operations -- 0.6% | ||||
400 | Eaton Corp. | 31,444 | ||
750 | Textron, Inc. | 29,265 | ||
60,709 | ||||
Drugs & Health Care -- 0.4% | ||||
1,000 | Pfizer, Inc. | 34,150 | ||
Electric Utility -- 1.2% | ||||
1,000 | Detroit Edison Co. | 38,640 | ||
1,250 | Exelon Corp. | 74,763 | ||
113,403 | ||||
Electrical Equipment -- 1.2% | ||||
2,000 | Cooper Industries Ltd., Class A | 82,600 | ||
1,250 | Rockwell International Corp. | 29,800 | ||
112,400 | ||||
Entertainment -- 0.1% | ||||
500 | The Walt Disney Co. | 9,875 | ||
Financial Services -- 1.3% | ||||
3,000 | American Capital Strategies | 74,820 | ||
1,000 | Hartford Financial Services Group, Inc. | 50,360 | ||
125,180 | ||||
Food & Beverages -- 0.4% | ||||
2,000 | SUPERVALU, Inc. | 42,640 | ||
Gas & Natural Gas -- 1.1% | ||||
3,000 | Keyspan Corp. | 106,350 | ||
Household Products -- 0.3% | ||||
2,000 | Kimball International, Inc., Class B | 31,200 | ||
Insurance -- 5.0% | ||||
3,000 | ACE Ltd. | $ 102,870 | ||
3,000 | Allstate Corp. | 106,950 | ||
2,000 | Cigna Corp. | 93,880 | ||
1,600 | Cincinnati Financial Corp. | 59,344 | ||
3,000 | Jefferson-Pilot Corp. | 124,379 | ||
487,423 | ||||
Metals & Mining -- 1.0% | ||||
500 | Alcan Aluminum Ltd. | 15,645 | ||
4,500 | Timken Co. | 78,795 | ||
94,440 | ||||
Miscellaneous Business Services -- 0.4% | ||||
1,500 | Ryder System, Inc. | 38,430 | ||
Oil Companies - Integrated -- 2.3% | ||||
750 | Halliburton Co. | 17,250 | ||
1,750 | Kerr-Mcgee Corp. | 78,400 | ||
3,750 | Occidental Petroleum Corp. | 125,813 | ||
221,463 | ||||
Paperboard Containers & Boxes -- 0.4% | ||||
900 | Bemis Co. | 42,120 | ||
Petroleum & Petroleum Products -- 2.6% | ||||
2,000 | ConocoPhillips | 109,600 | ||
4,300 | Marathon Oil Corp. | 113,304 | ||
700 | Sunoco, Inc. | 26,418 | ||
249,322 | ||||
Real Estate Investment Trusts -- 19.1% | ||||
1,150 | Apartment Investment & Management Co. | 39,790 | ||
2,500 | Archstone-Smith Trust | 60,000 | ||
2,750 | Arden Realty, Inc. | 71,363 | ||
2,500 | Avalonbay Communities, Inc. | 106,599 | ||
1,750 | Bedford Property Investors, Inc. | 49,700 | ||
2,750 | Brandywine Realty Trust | 67,705 | ||
2,000 | Capital Automotive Real Estate Investment Trust, Inc. | 55,980 | ||
2,000 | CarrAmerica Realty Corp. | 55,620 | ||
500 | CBL & Associates Properties, Inc. | 21,500 | ||
750 | Commercial NET Lease Realty | 12,930 | ||
1,500 | Developers Diversified Realty Corp. | 42,660 | ||
1,000 | EastGroup Properties, Inc. | 27,000 | ||
3,000 | Entertainment Properties | 86,250 | ||
7,500 | Equity Inns, Inc. | 51,750 | ||
5,000 | Equity Office Properties Trust | 135,049 | ||
2,000 | Equity Residential Properties Trust | 51,900 | ||
2,000 | First Industrial Realty Trust, Inc. | 63,200 | ||
4,000 | Glenborough Realty Trust, Inc. | 76,600 | ||
4,000 | Great Lakes Real Estate Investment Trust, Inc | 64,000 | ||
2,000 | Health Care Real Estate Investment Trust, Inc. | 61,000 | ||
250 | Healthcare Realty Trust, Inc. | 7,288 | ||
500 | Hospitality Properties Trust | 15,625 | ||
4,500 | HRPT Properties Trust | 41,400 | ||
3,250 | Koger Equity, Inc. | 55,998 | ||
5,250 | Kramont Realty Trust | 86,625 | ||
1,500 | Liberty Property Trust | 51,900 | ||
COMMON STOCKS -- (continued) | ||||
Real Estate Investment Trusts -- (continued) | ||||
2,000 | Macerich Co. | $ 70,260 | ||
1,000 | Mack-Cali Realty Corp. | 36,380 | ||
1,500 | Mid-America Apartment Communities, Inc. | 40,515 | ||
4,000 | New Plan Excel Realty Trust | 85,400 | ||
1,500 | Simon Property Group, Inc. | 58,545 | ||
1,500 | Sovran Self Storage, Inc. | 47,250 | ||
500 | Vornado Realty Trust | 21,800 | ||
2,500 | Winston Hotels, Inc. | 20,425 | ||
1,840,007 | ||||
Restaurants -- 1.0% | ||||
3,500 | Bob Evans Farms, Inc. | 96,705 | ||
Retail -- 1.3% | ||||
3,250 | J.C. Penney Co., Inc. | 54,763 | ||
2,000 | Sears, Roebuck & Co. | 67,280 | ||
122,043 | ||||
Telephone & Telecommunications -- 2.5% | ||||
2,400 | Alltel Corp. | 115,728 | ||
4,750 | BellSouth Corp. | 126,493 | ||
242,221 | ||||
Textiles -- 0.5% | ||||
1,500 | V.F. Corp. | 50,955 | ||
Tires & Tubes -- 0.2% | ||||
1,325 | Cooper Tire & Rubber Co. | 23,307 | ||
Total Common Stocks (Cost $4,903,917) | 5,241,290 | |||
PREFERRED STOCK -- 37.3% | ||||
Auto-Cars/Light Trucks -- 1.0% | ||||
4,000 | General Motors Corp., 7.375% | 100,800 | ||
Bank Holding Companies -- 3.0% | ||||
2,150 | Bank One Capital I, 8.000% | 57,534 | ||
5,500 | RenaissanceRe Holdings Ltd., Series B, 7.300% | 146,300 | ||
3,000 | Suntrust Capital IV, 7.125% | 81,780 | ||
285,614 | ||||
Brokerage Services -- 2.0% | ||||
5,000 | Bear Stearns Capital Trust II, 7.500% | 127,250 | ||
2,500 | Lehman Bros. Holding Capital Trust, 8.000% | 65,275 | ||
192,525 | ||||
Commercial Banks -- 5.3% | ||||
6,000 | ASBC Capital I, 7.625% | 165,000 | ||
8,000 | Compass Capital, 7.350% | 217,600 | ||
5,000 | PLC Capital Trust, 7.250% | 134,650 | ||
517,250 | ||||
Computer Services -- 0.3% | ||||
1,400 | Electronic Data Systems, 7.625% | 30,870 | ||
Electrical Services -- 6.5% | ||||
5,000 | Detroit-Edison Corp. 7.375% | 127,000 | ||
5,000 | Energy East Capital Trust I, 8.250% | 138,250 | ||
7,000 | Entergy LA, Inc., 7.600% | 192,500 | ||
6,500 | FPC Capital I, Series A, 7.100% | 166,075 | ||
623,825 | ||||
Financial Services -- 9.6% | ||||
650 | BancWest Capital I, 9.500% | $ 18,857 | ||
5,000 | Everest Cap Trust, 7.850% | 137,450 | ||
3,500 | Hartford Life Capital II, Series B, 7.625% | 96,040 | ||
3,500 | Household Capital Trust V, Series X, 10.000% | 98,525 | ||
8,500 | Merrill Lynch Capital Trust V, 7.280% (b) | 236,555 | ||
5,100 | Morgan Stanley Capital Trust II, 7.250% | 138,720 | ||
7,800 | National Commerce Capital Trust II, 7.700% | 212,550 | ||
938,697 | ||||
Fire, Marine & Casualty Insurance -- 2.6% | ||||
5,000 | Ace Ltd., Series C, 7.800% | 126,250 | ||
4,500 | PartnerRe Capital Trust I, 7.900% | 121,950 | ||
248,200 | ||||
Life/Health Insurance -- 3.3% | ||||
4,000 | Aetna, Inc., 8.500% | 110,280 | ||
7,500 | Lincoln National Capital V, Series E, 7.650% | 205,575 | ||
315,855 | ||||
Natural Gas Transmission -- 1.6% | ||||
5,500 | Dominion CNG Capital Trust I, 7.800% | 151,470 | ||
Real Estate Investment Trusts -- 2.1% | ||||
7,500 | Public Storage, Series R, 8.000% | 202,125 | ||
Total Preferred Stock (Cost $3,517,735) | 3,607,231 | |||
MUTUAL FUNDS -- 2.7 % | ||||
Exchange Traded Funds -- 2.7% | ||||
8,500 | AMEX Technology Select Sector | 145,095 | ||
3,750 | Nasdaq 100 Index Fund | 112,313 | ||
Total Mutual Funds (Cost $234,682) | 257,408 | |||
CASH EQUIVALENT -- 6.6 % | ||||
639,926 | Huntington Money Market Fund, Interfund Class* | 639,926 | ||
Total Cash Equivalent (Cost $639,926) | 639,926 | |||
Total (Cost $9,296,260) (a) | $ 9,745,855 | |||
Huntington VA Mid Corp America Fund
Portfolio of Investments
June 30, 2003 (Unaudited)
Shares |
| Value | ||
---|---|---|---|---|
COMMON STOCKS -- 81.8% | ||||
Aerospace & Defense -- 0.3% | ||||
375 | Alliant Techsystems, Inc. (b) | $ 19,466 | ||
Amusement & Recreation Services -- 0.1% | ||||
300 | Boyd Gaming Corp. (b) | 5,178 | ||
Apparel & Textiles -- 2.4% | ||||
1,227 | Columbia Sportswear Co. (b) | 63,080 | ||
300 | G & K Services, Inc., Class A | 8,880 | ||
228 | Jones Apparel Group, Inc. (b) | 6,671 | ||
744 | Liz Claiborne, Inc. | 26,226 | ||
400 | Reebok International Ltd. (b) | 13,452 | ||
1,400 | UniFirst Corp. | 30,660 | ||
148,969 | ||||
Auto/Truck Parts & Equipment -- 1.2% | ||||
100 | Cummins Engine, Inc. | 3,589 | ||
748 | Johnson Controls, Inc. | 64,028 | ||
195 | Superior Industries International, Inc. | 8,132 | ||
75,749 | ||||
Banks -- 5.9% | ||||
1,200 | Amcore Financial, Inc. | 27,936 | ||
700 | BancorpSouth, Inc. | 14,595 | ||
1,700 | Banknorth Group, Inc. | 43,384 | ||
618 | BOK Financial Corp. (b) | 23,836 | ||
1,100 | Chittenden Corp. | 30,085 | ||
821 | Compass Bancshares, Inc. | 28,678 | ||
15 | Fulton Financial Corp. | 298 | ||
900 | M & T Bank Corp. | 75,798 | ||
1,200 | MAF Bancorp, Inc. | 44,484 | ||
500 | National Commerce Financial Corp. | 11,095 | ||
1,100 | Old National Bancorp | 25,300 | ||
1,200 | Provident Bankshares Corp. | 30,492 | ||
182 | TCF Financial Corp. | 7,251 | ||
363,232 | ||||
Beer, Wine, & Distilled Beverages -- 0.7% | ||||
860 | Adolph Coors Co., Class B | 42,123 | ||
Biotechnology -- 1.1% | ||||
586 | Cephalon, Inc. (b) | 24,120 | ||
1,178 | Invitrogen Corp. (b) | 45,200 | ||
69,320 | ||||
Building & Construction -- 3.8% | ||||
800 | Beazer Homes USA, Inc. (b) | 66,800 | ||
700 | Centex Corp. | 54,453 | ||
500 | Florida Rock Industries | 20,640 | ||
938 | Insituform Technologies, Inc., Class A (b) | 16,584 | ||
700 | Lafarge North America Corp. | 21,630 | ||
961 | Pulte Homes, Inc. | 59,255 | ||
239,362 | ||||
Business Services -- 0.2% | ||||
640 | Viad Corp. | 14,330 | ||
Chemicals -- 1.3% | ||||
200 | Albemarle Corp. | 5,594 | ||
658 | Cytec Industries, Inc. (b) | 22,240 | ||
307 | H.B. Fuller Co. | 6,760 | ||
Chemicals -- (continued) | ||||
760 | Lubrizol Corp. | $ 23,552 | ||
500 | Minerals Technologies, Inc. | 24,331 | ||
82,477 | ||||
Circuits -- 0.2% | ||||
900 | Integrated Device Technology, Inc. (b) | 9,945 | ||
Communications Equipment -- 2.1% | ||||
1,300 | Advanced Fibre Communications, Inc. (b) | 21,151 | ||
1,400 | Enterasys Networks, Inc. (b) | 4,242 | ||
200 | Harris Corp. | 6,010 | ||
1,859 | L-3 Communications Corp. (b) | 80,847 | ||
828 | Scientific-Atlanta, Inc. | 19,740 | ||
131,990 | ||||
Computer Services -- 2.1% | ||||
450 | Activision, Inc. (b) | 5,814 | ||
259 | Affiliated Computer Services, Inc. (b) | 11,844 | ||
600 | CACI International, Inc., Class A (b) | 20,580 | ||
1,800 | Intergraph Corp. (b) | 38,700 | ||
2,900 | JDA Software Group, Inc. (b) | 32,451 | ||
300 | Pinnacle Systems, Inc. (b) | 3,210 | ||
741 | Sungard Data Systems, Inc. (b) | 19,199 | ||
131,798 | ||||
Computers -- 0.9% | ||||
1,200 | Advanced Digital Information Corp. (b) | 11,988 | ||
274 | NCR Corp. (b) | 7,020 | ||
100 | Sandisk Corp. (b) | 4,035 | ||
1,300 | Storage Technology Corp. (b) | 33,462 | ||
56,505 | ||||
Computers, Peripherals & Software -- 1.5% | ||||
400 | Borland Software Corp. (b) | 3,908 | ||
1,200 | Citrix Systems, Inc. (b) | 24,432 | ||
600 | Cognos, Inc. (b) | 16,200 | ||
800 | NetIQ Corp. (b) | 12,368 | ||
1,000 | Novell, Inc. (b) | 3,080 | ||
540 | Progress Software Corp. (b) | 11,194 | ||
1,600 | Rainbow Technologies, Inc. (b) | 13,456 | ||
600 | Sybase, Inc. (b) | 8,346 | ||
92,984 | ||||
Consulting Services -- 0.7% | ||||
2,610 | Forrester Research, Inc. (b) | 42,700 | ||
Containers - Paper/Plastic -- 0.3% | ||||
800 | Pactiv Corp. (b) | 15,768 | ||
Diversified Operations -- 1.6% | ||||
2,900 | Griffon Corp. (b) | 46,400 | ||
321 | Teleflex, Inc. | 13,659 | ||
1,100 | Textron, Inc. | 42,922 | ||
102,981 | ||||
Drugs & Health Care -- 1.3% | ||||
490 | Barr Laboratories, Inc. (b) | 32,095 | ||
1,296 | ICN Pharmaceuticals, Inc. | 21,721 | ||
835 | Mylan Laboratories, Inc. | 29,033 | ||
82,849 | ||||
COMMON STOCKS -- (continued) | ||||
E-Commerce & Services -- 0.5% | ||||
800 | Interactivecorp, Inc. (b) | $ 31,656 | ||
Electrical Components -- 1.7% | ||||
300 | Aeroflex, Inc. (b) | 2,322 | ||
100 | C&D Technologies, Inc. | 1,436 | ||
900 | Elbit Systems Ltd. | 17,460 | ||
1,100 | Intersil Corp., Class A (b) | 29,271 | ||
1,300 | Rayovac Corp. (b) | 16,835 | ||
2,000 | Thomas & Betts Corp. (b) | 28,900 | ||
981 | Vishay Intertechnology, Inc. (b) | 12,949 | ||
109,173 | ||||
Electrical Equipment -- 0.7% | ||||
956 | Cooper Industries Ltd., Class A | 39,483 | ||
100 | PerkinElmer, Inc. | 1,381 | ||
40,864 | ||||
Electrical Services -- 0.9% | ||||
888 | Allete, Inc. | 23,576 | ||
100 | DP&L, Inc. | 1,594 | ||
1,091 | Energy East Corp. | 22,649 | ||
529 | Teco Energy, Inc. | 6,343 | ||
54,162 | ||||
Electronic Components -- 0.0% | ||||
100 | Benchmark Electronics, Inc. (b) | 3,076 | ||
Environmental Services -- 0.4% | ||||
700 | Stericycle, Inc. (b) | 26,936 | ||
Financial Services -- 6.1% | ||||
550 | Allied Capital Corp. | 12,705 | ||
1,100 | Ambac Financial Group, Inc. | 72,874 | ||
584 | AmeriCredit Corp. (b) | 4,993 | ||
737 | Bear Stearns Companies, Inc. | 53,374 | ||
859 | City National Corp. | 38,277 | ||
1,300 | Cullen/Frost Bankers, Inc. | 41,730 | ||
541 | Federal Agricultural Mortgage Corp., Class C (b) | 12,091 | ||
700 | First American Financial Corp. | 18,445 | ||
1,132 | First Tennessee National Corp. | 49,706 | ||
700 | Firstmerit Corp. | 16,002 | ||
678 | Legg Mason, Inc. | 44,036 | ||
500 | Wilmington Trust Corp. | 14,675 | ||
378,908 | ||||
Food & Beverages -- 2.3% | ||||
1,300 | Constellation Brands, Inc. (b) | 40,820 | ||
1,500 | McCormick & Co., Inc. | 40,800 | ||
1,211 | Ralcorp Holding, Inc. (b) | 30,227 | ||
300 | Smithfield Foods, Inc. (b) | 6,876 | ||
634 | SUPERVALU, Inc. | 13,517 | ||
870 | Tyson Foods, Inc., Class A | 9,239 | ||
141,479 | ||||
Gas & Natural Gas -- 4.1% | ||||
1,400 | AGL Resources | 35,616 | ||
1,100 | Atmos Energy Corp. | 27,280 | ||
700 | Keyspan Corp. | 24,815 | ||
1,081 | MDU Resources Group, Inc. | 36,203 | ||
Gas & Natural Gas -- (continued) | ||||
600 | National Fuel Gas Co. | $ 15,630 | ||
1,200 | New Jersey Resources Corp. | 42,600 | ||
800 | Peoples Energy Corp. | 34,312 | ||
1,164 | Questar Corp. | 38,959 | ||
255,415 | ||||
Health Care Equipment & Supplies -- 0.8% | ||||
470 | Hillenbrand Industries, Inc. | 23,712 | ||
1,400 | Viasys Healthcare, Inc. (b) | 28,980 | ||
52,692 | ||||
Household Products -- 1.4% | ||||
720 | Church & Dwight Co., Inc. | 23,566 | ||
900 | Ferro Corp. | 20,277 | ||
1,500 | RPM, Inc. | 20,625 | ||
330 | Whirlpool Corp. | 21,021 | ||
85,489 | ||||
Insurance -- 3.3% | ||||
1,100 | Allmerica Financial Corp. (b) | 19,789 | ||
843 | Fidelity National Financial, Inc. | 25,931 | ||
930 | Nationwide Financial Services, Inc. | 30,225 | ||
533 | Old Republic International Corp. | 18,266 | ||
443 | PMI Group, Inc. | 11,890 | ||
1,223 | Protective Life Corp. | 32,715 | ||
727 | Torchmark Corp. | 27,081 | ||
700 | Triad Guaranty, Inc. (b) | 26,565 | ||
1,300 | UnumProvident Corp. | 17,433 | ||
209,895 | ||||
Lasers - Systems/Components -- 0.1% | ||||
340 | Coherent, Inc. (b) | 8,136 | ||
Leisure -- 0.8% | ||||
500 | Brunswick Corp. | 12,510 | ||
485 | Callaway Golf Co. | 6,412 | ||
1,282 | Royal Caribbean Cruises Ltd. | 29,691 | ||
48,613 | ||||
Machinery -- 1.6% | ||||
100 | AptarGroup, Inc. | 3,600 | ||
1,300 | Kadant, Inc. (b) | 24,375 | ||
719 | Kennametal, Inc. | 24,331 | ||
536 | Parker Hannifin Corp. | 22,507 | ||
684 | Tecumseh Products Co., Class A | 26,204 | ||
101,017 | ||||
Measuring Devices -- 1.1% | ||||
188 | FLIR Systems, Inc. (b) | 5,668 | ||
407 | Tektronix, Inc. (b) | 8,791 | ||
1,789 | Thermo Electron Corp. (b) | 37,605 | ||
800 | Trimble Navigation Ltd. (b) | 18,344 | ||
70,408 | ||||
Medical & Medical Services -- 3.5% | ||||
500 | Coventry Health Care, Inc. (b) | 23,080 | ||
500 | Incyte Genomics, Inc. (b) | 2,320 | ||
633 | Lincare Holdings, Inc. (b) | 19,946 | ||
1,120 | Owens & Minor, Inc. | 25,032 | ||
500 | Oxford Health Plans, Inc. (b) | 21,015 | ||
1,000 | Pediatrix Medical Group, Inc. (b) | 35,650 | ||
COMMON STOCKS -- (continued) | ||||
Medical & Medical Services -- (continued) | ||||
600 | Renal Care Group, Inc. (b) | $ 21,126 | ||
900 | Respironics, Inc. (b) | 33,768 | ||
604 | St. Jude Medical, Inc. (b) | 34,730 | ||
216,667 | ||||
Medical Instruments -- 0.0% | ||||
100 | Apogent Technologies, Inc. (b) | 2,000 | ||
Metal Processors & Fabrication -- 0.8% | ||||
1,600 | Precision Castparts Corp. | 49,760 | ||
Miscellaneous Business Services -- 1.9% | ||||
100 | Cadence Design Systems, Inc. (b) | 1,206 | ||
200 | Electronic Arts, Inc. (b) | 14,798 | ||
900 | EMCOR Group, Inc. (b) | 44,424 | ||
752 | NCO Group, Inc. (b) | 13,468 | ||
900 | Ryder System, Inc. | 23,058 | ||
400 | Symantec Corp. (b) | 17,544 | ||
1,000 | US Oncology, Inc. (b) | 7,390 | ||
121,888 | ||||
Office Equipment & Services -- 0.3% | ||||
2,000 | IKON Office Solutions, Inc. | 17,800 | ||
Oil & Gas - Exploration & Production -- 1.5% | ||||
1,007 | Devon Energy Corp. | 53,774 | ||
1,000 | Suncor Energy, Inc. | 18,750 | ||
800 | Unocal Corp. | 22,952 | ||
95,476 | ||||
Oil Equipment & Services -- 0.1% | ||||
207 | Weatherford International, Inc. (b) | 8,673 | ||
Paper & Paper Products -- 0.7% | ||||
1,200 | Rock-Tenn Co. | 20,340 | ||
1,500 | Smurfit-Stone Container Corp. (b) | 19,545 | ||
249 | Sonoco Products Co. | 5,981 | ||
45,866 | ||||
Paperboard Containers & Boxes -- 0.6% | ||||
800 | Bemis Co. | 37,440 | ||
Personal Products -- 0.7% | ||||
2,200 | NBTY, Inc. (b) | 46,332 | ||
Petroleum & Petroleum Products -- 5.0% | ||||
1,378 | Apache Corp. | 89,652 | ||
958 | Chesapeake Energy Corp. ` | 9,676 | ||
600 | Forest Oil Corp. (b) | 15,072 | ||
100 | Helmerich & Payne, Inc. | 2,920 | ||
800 | Murphy Oil Corp. | 42,080 | ||
2,250 | Patina Oil & Gas Corp. | 72,338 | ||
1,369 | Tidewater, Inc. | 40,208 | ||
543 | Unit Corp. (b) | 11,354 | ||
509 | Valero Energy Corp. | 18,492 | ||
1,300 | Vintage Petroleum, Inc. | 14,664 | ||
316,456 | ||||
Pharmaceuticals -- 0.9% | ||||
700 | Biovail Corp. (b) | 32,942 | ||
700 | Omnicare Inc. | 23,653 | ||
56,595 | ||||
Pipelines -- 0.7% | ||||
900 | Enbridge Energy Partners LP | $ 43,110 | ||
Pollution Control -- 0.2% | ||||
579 | Pall Corp. | 13,028 | ||
Printing & Publishing -- 1.1% | ||||
900 | Banta Corp. | 29,133 | ||
1,168 | Paxar Corp. (b) | 12,848 | ||
1,000 | R.R. Donnelley & Sons Co. | 26,140 | ||
68,121 | ||||
Real Estate Investment Trust -- 0.3% | ||||
527 | LNR Property Corp. | 19,710 | ||
Restaurants -- 0.9% | ||||
758 | Applebee's International, Inc. | 23,823 | ||
330 | Brinker International, Inc. (b) | 11,887 | ||
400 | Papa John's International, Inc. (b) | 11,220 | ||
378 | Ruby Tuesday, Inc. | 9,348 | ||
56,278 | ||||
Retail -- 3.0% | ||||
549 | Abercrombie & Fitch Co., Class A (b) | 15,597 | ||
1,100 | AnnTaylor Stores Corp. (b) | 31,845 | ||
1,200 | Furniture Brands International, Inc. (b) | 31,320 | ||
600 | Nieman Marcus Group, Inc. (b) | 21,960 | ||
1,579 | Nordstrom, Inc. | 30,822 | ||
1,000 | Sonic Automotives, Inc. (b) | 21,910 | ||
900 | Zales Corp. (b) | 36,000 | ||
189,454 | ||||
Semiconductor Equipment -- 1.3% | ||||
100 | DuPont Photomasks, Inc. (b) | 1,883 | ||
2,000 | ESS Technology, Inc. (b) | 19,500 | ||
1,078 | Imation Corp. | 40,770 | ||
692 | International Rectifier Corp. (b) | 18,559 | ||
117 | Varian Semiconductor Equipment, Inc. (b) | 3,482 | ||
84,194 | ||||
Steel -- 0.2% | ||||
431 | Engelhard Corp. | 10,676 | ||
Telephone & Telecommunications -- 0.9% | ||||
507 | CenturyTel, Inc. | 17,669 | ||
2,400 | Ciena Corp. (b) | 12,456 | ||
400 | Commonwealth Telephone Enterprises, Inc. (b) | 17,588 | ||
400 | US Cellular Corp. (b) | 10,180 | ||
57,893 | ||||
Tires & Tubes -- 0.1% | ||||
387 | Cooper Tire & Rubber Co. | 6,807 | ||
Tools & Accessories -- 0.4% | ||||
700 | Snap-On, Inc. | 20,321 | ||
193 | Stanley Works, The | 5,327 | ||
25,648 | ||||
Wholesale Distribution -- 1.9% | ||||
1,200 | AmerisourceBergen Corp. | 83,220 | ||
600 | BorgWarner, Inc. | 38,640 | ||
121,860 | ||||
COMMON STOCKS -- (continued) | ||||
Woven Carpets & Rugs -- 1.3% | ||||
1,500 | Mohawk Industries, Inc. (b) | $ 83,295 | ||
Total Common Stocks (Cost $4,849,380) | 5,140,672 | |||
MUTUAL FUNDS -- 7.7% | ||||
Exchange Traded Funds -- 7.7% | ||||
2,500 | iShares S&P Midcap 400 | 240,000 | ||
2,752 | Midcap SPDR Trust Series I | 241,405 | ||
Total Mutual Funds (Cost $458,969) | 481,405 | |||
CASH EQUIVALENT -- 10.3% | ||||
646,872 | Huntington Money Market Fund, Interfund Class* | 646,872 | ||
Total Cash Equivalent (Cost $646,872) | 646,872 | |||
Total (Cost $5,955,221) (a) | $ 6,268,949 | |||
Huntington VA New Economy Fund
Portfolio of Investments
June 30, 2003 (Unaudited)
Shares |
| Value | ||
---|---|---|---|---|
COMMON STOCKS -- 96.7% | ||||
Advertising Sales -- 0.6% | ||||
280 | Lamar Advertising Co. (b) | $ 9,859 | ||
Aerospace/Defense -- 0.5% | ||||
100 | Lockheed Martin Corp. | 4,757 | ||
36 | Northrop Grumman Corp. | 3,106 | ||
7,863 | ||||
Airlines -- 0.1% | ||||
80 | SkyWest, Inc. | 1,525 | ||
Amusement & Recreation Services -- 0.6% | ||||
602 | Aztar Corp. (b) | 9,698 | ||
Apparel & Textiles -- 2.4% | ||||
180 | Fossil, Inc. (b) | 4,241 | ||
76 | G & K Services, Inc., Class A | 2,250 | ||
70 | Jones Apparel Group, Inc. (b) | 2,048 | ||
260 | K-Swiss, Inc., Class S | 8,975 | ||
170 | Liz Claiborne, Inc. | 5,993 | ||
332 | Reebok International Ltd. (b) | 11,164 | ||
133 | UniFirst Corp. | 2,913 | ||
37,584 | ||||
Auto/Truck Parts & Equipment -- 2.1% | ||||
200 | Autoliv, Inc. | 5,416 | ||
115 | Group 1 Automotive, Inc. (b) | 3,727 | ||
53 | Johnson Controls, Inc. | 4,537 | ||
124 | Lear Corp. (b) | 5,706 | ||
76 | Magna International, Inc. | 5,113 | ||
122 | PACCAR, Inc. | 8,242 | ||
32,741 | ||||
Banks -- 6.3% | ||||
100 | Bank of Hawaii Corp. | 3,315 | ||
190 | Countrywide Credit Industries, Inc. | 13,217 | ||
240 | Dime Community Bancshares | 6,108 | ||
176 | GreenPoint Financial Corp. | 8,965 | ||
190 | Independence Community Bank Corp. | 5,362 | ||
165 | MB Financial, Inc. | 6,607 | ||
138 | New York Community Bancorp, Inc. | 4,014 | ||
46 | North Fork Bancorporation, Inc. | 1,567 | ||
174 | R & G Finanical Corp., Class B | 5,168 | ||
246 | Regions Financial Corp. | 8,310 | ||
383 | SouthTrust Corp. | 10,418 | ||
310 | Sovereign Bancorp | 4,852 | ||
166 | UCBH Holdings, Inc. | 4,761 | ||
262 | Washington Mutual, Inc. | 10,820 | ||
100 | Webster Financial Corp. | 3,780 | ||
97,264 | ||||
Batteries/ Battery Systems -- 1.0% | ||||
490 | Energizer Holdings, Inc. (b) | 15,386 | ||
Beer, Wine, & Distilled Beverages -- 0.1% | ||||
40 | Adolph Coors Co., Class B | 1,959 | ||
Building & Construction -- 6.4% | ||||
235 | Centex Corp. | 18,280 | ||
111 | Clayton Homes, Inc. | 1,393 | ||
486 | D. R. Horton, Inc. | 13,656 | ||
120 | KB Home | 7,438 | ||
Building & Construction -- (continued) | ||||
60 | Lafarge North America Corp. | $ 1,854 | ||
120 | Lennar Corp. | 8,580 | ||
7 | Lennar Corp., Class B | 481 | ||
142 | M/I Schottenstein Homes, Inc. | 6,061 | ||
148 | MDC Holdings, Inc. | 7,145 | ||
22 | NVR, Inc. (b) | 9,042 | ||
124 | Ryland Group, Inc. | 8,606 | ||
310 | Simpson Manufacturing Co., Inc. (b) | 11,346 | ||
190 | Standard-Pacific Corp. | 6,300 | ||
100,182 | ||||
Chemicals -- 0.9% | ||||
140 | A. Schulman, Inc. | 2,248 | ||
245 | Airgas, Inc. | 4,104 | ||
100 | Albemarle Corp. | 2,797 | ||
170 | Cytec Industries, Inc. (b) | 5,746 | ||
14,895 | ||||
Commercial Services & Supplies -- 1.4% | ||||
168 | Cendant Corp. (b) | 3,078 | ||
74 | ChoicePoint, Inc. (b) | 2,554 | ||
104 | Concord EFS, Inc. (b) | 1,531 | ||
312 | Interactive Data Corp. (b) | 5,273 | ||
370 | StarTek (b) | 9,731 | ||
22,167 | ||||
Communications Equipment -- 0.5% | ||||
190 | L-3 Communications Corp. (b) | 8,263 | ||
Computer Services -- 3.9% | ||||
389 | Activision, Inc. (b) | 5,019 | ||
587 | Intergraph Corp. (b) | 12,621 | ||
74 | JDA Software Group, Inc. (b) | 828 | ||
800 | Pinnacle Systems, Inc. (b) | 8,560 | ||
140 | Pixar Animation Studios Corp. (b) | 8,518 | ||
207 | Sungard Data Systems, Inc. (b) | 5,363 | ||
188 | Syntel, Inc. (b) | 2,957 | ||
630 | Take-Two Interactive Software, Inc. (b) | 17,854 | ||
61,720 | ||||
Consumer Products -- 0.6% | ||||
190 | The Scotts Co. (b) | 9,405 | ||
Crude Petroleum & Natural Gas -- 1.0% | ||||
480 | PATTERSON-UTI Energy, Inc. (b) | 15,552 | ||
Data Processing/Management -- 0.7% | ||||
710 | Acxiom Corp. (b) | 10,714 | ||
Distribution/Wholesale -- 0.7% | ||||
44 | CDW Corp. (b) | 2,015 | ||
280 | Fastenal Co. | 9,503 | ||
11,518 | ||||
Diversified Operations -- 2.6% | ||||
720 | A.O. Smith Corp. | 20,268 | ||
310 | Clarcor, Inc. | 11,951 | ||
370 | Griffon Corp. (b) | 5,920 | ||
190 | Lydall, Inc. (b) | 2,033 | ||
140 | Walter Industries, Inc. | 1,645 | ||
41,817 | ||||
COMMON STOCKS -- (continued) | ||||
E-Commerce & Services -- 2.0% | ||||
144 | Expedia, Inc., Class A (b) | $ 10,999 | ||
293 | Interactivecorp, Inc. (b) | 11,602 | ||
900 | WebMD Corp. (b) | 9,747 | ||
32,348 | ||||
Electronic Components -- 1.2% | ||||
170 | Benchmark Electronics, Inc. (b) | 5,229 | ||
280 | Gentex Corp. (b) | 8,571 | ||
480 | Methode Electronics | 5,160 | ||
860 | Viscount Systems, Inc. (b) | 224 | ||
19,184 | ||||
Electronic Measuring Instruments -- 2.1% | ||||
720 | Garmin Ltd. (b) | 28,706 | ||
180 | Itron, Inc. (b) | 3,881 | ||
32,587 | ||||
Environmental Services -- 0.3% | ||||
120 | Stericycle, Inc. (b) | 4,618 | ||
Financial Services -- 3.7% | ||||
83 | Commercial Federal Corp. | 1,760 | ||
478 | Doral Financial Corp. | 21,342 | ||
440 | First American Financial Corp. | 11,594 | ||
242 | First Data Corp. | 10,028 | ||
70 | Golden West Financial Corp. | 5,601 | ||
190 | H & R Block, Inc. | 8,218 | ||
58,543 | ||||
Food & Beverages -- 2.5% | ||||
72 | American Italian Pasta Co. (b) | 2,999 | ||
196 | Bob Evans Farms, Inc. | 5,415 | ||
318 | Constellation Brands, Inc. (b) | 9,986 | ||
110 | Fresh Del Monte Produce, Inc. | 2,826 | ||
200 | Sensient Technologies Corp. | 4,598 | ||
140 | Whole Foods Market, Inc. (b) | 6,654 | ||
258 | YUM! Brands, Inc. (b) | 7,626 | ||
40,104 | ||||
Gambling -- 0.7% | ||||
78 | Ameristar Casinos, Inc. (b) | 1,665 | ||
113 | Argosy Gaming Co. (b) | 2,363 | ||
111 | Isle of Capris Casinos, Inc. (b) | 1,835 | ||
262 | Penn National Gaming, Inc. (b) | 5,384 | ||
11,247 | ||||
Glass Containers -- 0.5% | ||||
190 | Ball Corp. | 8,647 | ||
Hotels & Lodging -- 0.4% | ||||
110 | Mandalay Resort Group | 3,504 | ||
100 | MGM Grand, Inc. (b) | 3,418 | ||
6,922 | ||||
Household Furnishings -- 0.3% | ||||
39 | American Woodmark Corp. | 1,816 | ||
110 | La-Z-Boy, Inc. | 2,462 | ||
4,278 | ||||
Household Products -- 0.1% | ||||
33 | Whirlpool Corp. | 2,102 | ||
Insurance -- 2.0% | ||||
170 | Fidelity National Financial, Inc. | $ 5,229 | ||
81 | Loews Corp. | 3,830 | ||
310 | Old Republic International Corp. | 10,624 | ||
180 | Protective Life Corp. | 4,815 | ||
154 | UnitedHealth Group, Inc. | 7,739 | ||
32,237 | ||||
Insurance - Life & Health -- 0.5% | ||||
270 | AFLAC, Inc. | 8,303 | ||
Internet Services -- 0.1% | ||||
153 | Alloy, Inc. (b) | 987 | ||
Leisure -- 0.2% | ||||
170 | Royal Caribbean Cruises Ltd. | 3,937 | ||
Linen Supply -- 0.2% | ||||
170 | Angelica Corp. | 2,882 | ||
Machinery -- 0.9% | ||||
400 | AGCO Corp. (b) | 6,833 | ||
143 | Albany International Corp., Class A | 3,918 | ||
220 | Lennox International, Inc. | 2,831 | ||
13,582 | ||||
Measuring Devices -- 0.3% | ||||
152 | FLIR Systems, Inc. (b) | 4,583 | ||
Medical & Medical Services -- 11.3% | ||||
140 | Aetna US Healthcare, Inc. | 8,428 | ||
410 | Apria Healthcare Group, Inc. (b) | 10,201 | ||
172 | Becton, Dickinson & Co. | 6,682 | ||
114 | Bio-Rad Laboratories, Inc., Class A (b) | 6,310 | ||
260 | Conmed Corp. (b) | 4,748 | ||
140 | Coventry Health Care, Inc. (b) | 6,462 | ||
260 | Curative Health Services, Inc. (b) | 4,420 | ||
170 | DaVita, Inc. (b) | 4,553 | ||
280 | Dentsply International, Inc. | 11,452 | ||
46 | Diagnostic Products Corp. | 1,888 | ||
420 | First Health Group Corp. (b) | 11,592 | ||
110 | HCA-The Healthcare Co. | 3,524 | ||
480 | Henry Schein, Inc. (b) | 25,123 | ||
356 | Hologic, Inc. (b) | 4,692 | ||
83 | Johnson & Johnson, Inc. | 4,291 | ||
80 | Medtronic, Inc. | 3,838 | ||
59 | Ocular Sciences, Inc. (b) | 1,171 | ||
280 | Patterson Dental Co. (b) | 12,706 | ||
44 | Pediatrix Medical Group, Inc. (b) | 1,569 | ||
78 | Pharmaceutical Resources, Inc. (b) | 3,795 | ||
290 | Renal Care Group, Inc. (b) | 10,211 | ||
100 | St. Jude Medical, Inc. (b) | 5,750 | ||
168 | STERIS Corp. (b) | 3,879 | ||
43 | Tenet Healthcare Corp. (b) | 501 | ||
140 | Triad Hospitals, Inc. (b) | 3,475 | ||
262 | Varian Medical Systems, Inc. (b) | 15,083 | ||
176,344 | ||||
Medical - HMO -- 3.1% | ||||
680 | Humana, Inc. (b) | 10,268 | ||
140 | Mid Atlantic Medical Services, Inc. (b) | 7,322 | ||
370 | PacifiCare Health Systems, Inc. (b) | 18,252 | ||
COMMON STOCKS -- (continued) | ||||
Medical - HMO -- (continued) | ||||
150 | Sierra Health Services, Inc. (b) | $ 3,000 | ||
120 | Wellpoint Health Networks (b) | 10,116 | ||
48,958 | ||||
Metals & Mining -- 1.2% | ||||
105 | Barrick Gold Corp. | 1,880 | ||
190 | Commercial Metals Co. | 3,380 | ||
430 | Freeport-McMoran Copper & Gold, Inc., Class B | 10,534 | ||
170 | Timken Co. | 2,977 | ||
18,771 | ||||
Miscellaneous Business Services -- 5.9% | ||||
48 | Action Performance Companies, Inc. | 912 | ||
187 | Caremark Rx, Inc. (b) | 4,802 | ||
62 | Deluxe Corp. | 2,778 | ||
115 | Electronic Arts, Inc. (b) | 8,509 | ||
146 | EMCOR Group, Inc. (b) | 7,207 | ||
317 | Fair Issac & Co., Inc. | 16,310 | ||
502 | GTECH Holdings Corp. (b) | 18,900 | ||
240 | New England Business Services, Inc. | 7,200 | ||
79 | Overture Services, Inc. (b) | 1,432 | ||
370 | Ryder System, Inc. | 9,479 | ||
170 | Symantec Corp. (b) | 7,456 | ||
1,090 | US Oncology, Inc. (b) | 8,055 | ||
93,040 | ||||
Office Equipment & Supplies -- 0.2% | ||||
77 | John H. Harland Co. | 2,015 | ||
80 | Standard Register Co. | 1,318 | ||
3,333 | ||||
Oil Company - Exploration & Production -- 2.5% | ||||
310 | Occidental Petroleum Corp. | 10,401 | ||
290 | Pogo Producing Co. | 12,397 | ||
260 | Varco International, Inc. (b) | 5,096 | ||
603 | XTO Energy, Inc. | 12,126 | ||
40,020 | ||||
Paper & Paper Products -- 0.2% | ||||
180 | Rock-Tenn Co. | 3,051 | ||
Personal Products -- 0.2% | ||||
113 | NBTY, Inc. (b) | 2,380 | ||
Professional Services -- 0.7% | ||||
116 | Apollo Group, Inc. (b) | 7,164 | ||
40 | Strayer Education, Inc. | 3,178 | ||
10,342 | ||||
Railroad Transportation -- 0.1% | ||||
44 | CSX Corp. | 1,324 | ||
Raw Materials -- 0.1% | ||||
110 | Cleveland Cliffs, Inc. (b) | 1,964 | ||
Real Estate Investment Trust -- 0.6% | ||||
240 | Annaly Mortgage Management, Inc. | 4,779 | ||
78 | LNR Property Corp. | 2,917 | ||
142 | Ventas, Inc. | 2,151 | ||
9,847 | ||||
Recreation & Utility Trailer Dealers -- 0.6% | ||||
112 | Thor Industries, Inc. | $ 4,572 | ||
113 | Winnebago Industries, Inc. | 4,283 | ||
8,855 | ||||
Retail -- 8.4% | ||||
120 | AnnTaylor Stores Corp. (b) | 3,474 | ||
169 | Applebee's International, Inc. | 5,312 | ||
287 | AutoNation, Inc. (b) | 4,512 | ||
187 | Bed Bath & Beyond, Inc. (b) | 7,257 | ||
113 | Borders Group, Inc. (b) | 1,990 | ||
36 | Carmax, Inc. (b) | 1,085 | ||
144 | Chico's FAS, Inc. (b) | 3,031 | ||
83 | Circuit City Stores, Inc. | 730 | ||
194 | Cracker Barrel Group, Inc. | 7,539 | ||
90 | Dillards Department Stores, Inc. | 1,212 | ||
48 | Family Dollar Stores, Inc. | 1,831 | ||
128 | Fred's, Inc. | 4,759 | ||
100 | Furniture Brands International, Inc. (b) | 2,610 | ||
257 | Hancock Fabrics, Inc. | 4,151 | ||
142 | Hot Topic, Inc. (b) | 3,821 | ||
138 | Landry's Seafood Restaurants, Inc. | 3,257 | ||
290 | Lone Star Steakhouse & Saloon, Inc. | 6,313 | ||
99 | Lowe's Cos., Inc. | 4,252 | ||
114 | Micheal Stores, Inc. (b) | 4,339 | ||
115 | O'Reilly Automotive, Inc. (b) | 3,840 | ||
156 | Office Depot, Inc. (b) | 2,264 | ||
100 | Pep Boys-Manny, Moe & Jack | 1,351 | ||
468 | PETsMART, Inc. (b) | 7,801 | ||
235 | Pier 1 Imports, Inc. | 4,794 | ||
190 | RARE Hospitality International, Inc. (b) | 6,209 | ||
198 | Regis Corp. | 5,752 | ||
99 | Ross Stores, Inc. | 4,231 | ||
308 | Ryan Family Steak Houses, Inc. (b) | 4,312 | ||
180 | Shopko Stores, Inc. (b) | 2,340 | ||
137 | Sonic Automotives, Inc. (b) | 3,002 | ||
410 | TBC Corp. (b) | 7,810 | ||
235 | Tuesday Morning Corp. (b) | 6,181 | ||
131,362 | ||||
Schools -- 2.1% | ||||
480 | Career Education Corp. (b) | 32,842 | ||
Semiconductor Equipment -- 1.3% | ||||
430 | Imation Corp. | 16,263 | ||
235 | Zoran Corp. (b) | 4,514 | ||
20,777 | ||||
Software -- 3.1% | ||||
145 | Concord Communications, Inc. (b) | 1,991 | ||
870 | Hyperion Solutions Corp. (b) | 29,370 | ||
390 | Inter-Tel, Inc. | 8,276 | ||
220 | Intuit, Inc. (b) | 9,797 | ||
49,434 | ||||
Steel -- 0.5% | ||||
100 | Quanex Corp. | 2,972 | ||
140 | Steel Technologies, Inc. | 1,415 | ||
310 | Worthington Industries, Inc. | 4,154 | ||
8,541 | ||||
COMMON STOCKS -- (continued) | ||||
Tires & Tubes -- 0.1% | ||||
120 | Cooper Tire & Rubber Co. | $ 2,111 | ||
Tools & Accessories -- 0.1% | ||||
44 | Stanley Works, The | 1,214 | ||
Toys & Games -- 0.1% | ||||
104 | Mattel, Inc. | 1,968 | ||
Transportation Services -- 2.9% | ||||
290 | Airborne, Inc. | 6,061 | ||
480 | C.H. Robinson Worldwide, Inc. | 17,069 | ||
280 | Expeditors International of Washington, Inc. | 9,699 | ||
175 | Heartland Express, Inc. (b) | 3,894 | ||
139 | J.B. Hunt Transport Services, Inc. (b) | 5,247 | ||
120 | Roadway Express, Inc. | 3,424 | ||
45,394 | ||||
Video Tape Rental -- 0.2% | ||||
178 | Hollywood Entertainment Corp. (b) | 3,062 | ||
Wholesale Distribution -- 0.4% | ||||
37 | AmerisourceBergen Corp. | 2,566 | ||
70 | BorgWarner, Inc. | 4,508 | ||
7,074 | ||||
Woven Carpets & Rugs -- 0.4% | ||||
121 | Mohawk Industries, Inc. (b) | 6,719 | ||
Total Common Stocks (Cost $1,392,865) | 1,525,930 | |||
Cash Equivalent -- 3.3% | ||||
52,529 | Huntington Money Market Fund, Interfund Class* | 52,529 | ||
Total Cash Equivalent (Cost $52,529) | 52,529 | |||
Total (Cost $1,445,394) (a) | $ 1,578,459 | |||
Huntington VA Funds
Notes to Portfolio of Investments
(a) See Notes to Financial Statements for unrealized appreciation (depreciation) of securities.
(b) Non-income producing security.
* Affiliated.
The categories of investments are shown as a percentage of net assets.
The following abbreviations are used in the Portfolio of Investments:
ADR | - -- | American Depositary Receipt |
SPDR | - -- | Standard & Poor's Depositary Receipt |
Huntington VA Funds
Statements of Assets and Liabilities
June 30, 2003 (Unaudited)
| Huntington | Huntington | Huntington | Huntington | Huntington | Huntington | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets: | ||||||||||||
Investments, at value | $ 7,660,195 | $ 14,674,290 | $ 2,241,965 | $ 9,745,855 | $ 6,268,949 | $ 1,578,459 | ||||||
Cash | -- | 59,457 | 3,963 | 41,318 | 16,225 | 1,544 | ||||||
Income receivable | 7,105 | 29,881 | 1,954 | 40,452 | 4,249 | 713 | ||||||
Receivable for investments sold | -- | -- | -- | 59,971 | -- | -- | ||||||
Receivable from adviser | 181 | 157 | 202 | 336 | 211 | 130 | ||||||
Prepaid expenses and other assets | 76 | 177 | 19 | 73 | 68 | 16 | ||||||
Total assets | 7,667,557 | 14,763,962 | 2,248,103 | 9,888,005 | 6,289,702 | 1,580,862 | ||||||
Liabilities: | ||||||||||||
Cash overdraft | 484,206 | -- | -- | -- | -- | -- | ||||||
Payable for investments purchased | -- | -- | -- | 205,285 | -- | -- | ||||||
Accrued expenses and other payables | ||||||||||||
Investment adviser fees | 3,342 | 7,027 | 1,075 | 4,340 | 2,958 | 749 | ||||||
Administration fees | 418 | 878 | 134 | 543 | 370 | 94 | ||||||
Sub-Administration fees | 334 | 703 | 107 | 434 | 296 | 75 | ||||||
Custodian fees | 145 | 305 | 47 | 188 | 128 | 32 | ||||||
Portfolio accounting fees | 311 | 504 | 238 | 376 | 310 | 200 | ||||||
Other | 7,489 | 17,228 | 1,762 | 8,134 | 6,456 | 1,618 | ||||||
Total liabilities | 496,245 | 26,645 | 3,363 | 219,300 | 10,518 | 2,768 | ||||||
Net Assets | $ 7,171,312 | $ 14,737,317 | $ 2,244,740 | $ 9,668,705 | $ 6,279,184 | $ 1,578,094 | ||||||
Net Assets Consists of: | ||||||||||||
Paid in capital | $ 7,350,539 | $ 14,692,663 | $ 2,146,770 | $ 9,115,051 | $ 6,001,071 | $ 1,455,850 | ||||||
Net unrealized appreciation (depreciation) of investments | (152,659) | 337,604 | 166,632 | 449,595 | 313,728 | 133,065 | ||||||
Accumulated net realized gain (loss) on investments | (32,257) | (461,162) | (72,697) | (78,596) | (41,153) | (9,373) | ||||||
Accumulated net investment income (loss) | 5,689 | 168,212 | 4,035 | 182,655 | 5,538 | (1,448) | ||||||
Total Net Assets | $ 7,171,312 | $ 14,737,317 | $ 2,244,740 | $ 9,668,705 | $ 6,279,184 | $ 1,578,094 | ||||||
Shares Outstanding | 943,056 | 1,564,032 | 235,387 | 907,997 | 592,418 | 148,313 | ||||||
Net Asset Value Per Share | ||||||||||||
(Net asset value, offering and redemption price per share) | $ 7.60 | $ 9.42 | $ 9.54 | $ 10.65 | $ 10.60 | $ 10.64 | ||||||
Investments, at cost | $ 7,812,854 | $ 14,336,686 | $ 2,075,333 | $ 9,296,260 | $ 5,955,221 | $ 1,445,394 | ||||||
Huntington VA Funds
Statements of Operations
For the Six Months Ended June 30, 2003 (Unaudited)
| Huntington | Huntington | Huntington | Huntington | Huntington | Huntington | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Investment Income: | ||||||||||||
Dividends | $ 29,352 | $ 211,485 | $ 11,336 | $ 195,974 | $ 27,030 | $ 3,887 | ||||||
Interest | -- | 7,869 | -- | -- | -- | -- | ||||||
Total investment income | 29,352 | 219,354 | 11,336 | 195,974 | 27,030 | 3,887 | ||||||
Expenses: | ||||||||||||
Investment adviser fees | 14,680 | 32,596 | 4,381 | 17,249 | 12,896 | 3,200 | ||||||
Administration fees | 1,835 | 4,075 | 548 | 2,156 | 1,612 | 400 | ||||||
Sub-Administration fees | 1,468 | 3,260 | 438 | 1,725 | 1,290 | 320 | ||||||
Custodian fees | 636 | 1,413 | 190 | 747 | 559 | 139 | ||||||
Transfer and dividend disbursing agent fees and expenses | 661 | 1,490 | 226 | 796 | 604 | 145 | ||||||
Legal fees | 2,439 | 5,262 | 824 | 3,022 | 2,148 | 515 | ||||||
Portfolio accounting fees | 1,659 | 2,875 | 960 | 1,856 | 1,535 | 876 | ||||||
Printing and postage | 3,110 | 6,939 | 833 | 3,283 | 2,675 | 684 | ||||||
Other | 1,495 | 3,309 | 463 | 1,809 | 1,322 | 326 | ||||||
Total expenses | 27,983 | 61,219 | 8,863 | 32,643 | 24,641 | 6,605 | ||||||
Reimbursements from adviser | (3,518) | (6,891) | (1,562) | (3,895) | (3,149) | (1,270) | ||||||
Net expenses | 24,465 | 54,328 | 7,301 | 28,748 | 21,492 | 5,335 | ||||||
Net investment income (loss) | 4,887 | 165,026 | 4,035 | 167,226 | 5,538 | (1,448) | ||||||
Realized and Unrealized Gain (Loss) on Investments: | ||||||||||||
Net realized gain (loss) on investments | (21,876) | (28,815) | (54,630) | (43,340) | (47,662) | 5,104 | ||||||
Net change in unrealized appreciation/depreciation of investments | 268,147 | 736,127 | 203,046 | 475,690 | 545,172 | 151,407 | ||||||
Net realized and unrealized gain (loss) on investments | 246,271 | 707,312 | 148,416 | 432,350 | 497,510 | 156,511 | ||||||
Change in net assets resulting from operations | $ 251,158 | $ 872,338 | $ 152,451 | $ 599,576 | $ 503,048 | $ 155,063 | ||||||
Huntington VA Funds
Statements of Changes in Net Assets
Huntington VA Growth Fund | Huntington VA Income Equity Fund | Huntington VA Rotating Markets Fund | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Six Months Ended June 30, 2003 | Year Ended Dec. 31, 2002 | Six Months Ended June 30, 2003 | Year Ended Dec. 31, 2002 | Six Months Ended June 30, 2003 | Year Ended Dec. 31, 2002 | |||||||
Increase (Decrease) in Net Assets | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||
Operations: | ||||||||||||
Net investment income (loss) | $ 4,887 | $ 2,803 | $ 165,026 | $ 176,406 | $ 4,035 | $ (860) | ||||||
Net realized gain (loss) on investments | (21,876) | (9,499) | (28,815) | (298,590) | (54,630) | (18,067) | ||||||
Net change in unrealized appreciation/depreciation of investments | 268,147 | (409,698) | 736,127 | (577,399) | 203,046 | (45,501) | ||||||
Change in net assets resulting from operations | 251,158 | (416,394) | 872,338 | (699,583) | 152,451 | (64,428) | ||||||
Distributions to Shareholders: | ||||||||||||
From net investment income | -- | (2,001) | -- | (173,220) | -- | -- | ||||||
Change in net assets resulting from distributions to shareholders | -- | (2,001) | -- | (173,220) | -- | -- | ||||||
Share Transactions: | ||||||||||||
Proceeds from sales of shares | 3,328,214 | 3,672,461 | 5,263,343 | 5,159,774 | 1,189,214 | 850,534 | ||||||
Distributions reinvested | -- | 2,001 | -- | 173,220 | -- | -- | ||||||
Cost of shares redeemed | (61,646) | (36,853) | (110,280) | (200,915) | (26,596) | (66,532) | ||||||
Change in net assets resulting from share transactions | 3,266,568 | 3,637,609 | 5,153,063 | 5,132,079 | 1,162,618 | 784,002 | ||||||
Change in net assets | 3,517,726 | 3,219,214 | 6,025,401 | 4,259,276 | 1,315,069 | 719,574 | ||||||
Net Assets: | ||||||||||||
Beginning of period | 3,653,586 | 434,372 | 8,711,916 | 4,452,640 | 929,671 | 210,097 | ||||||
End of period | $ 7,171,312 | $ 3,653,586 | $ 14,737,317 | $ 8,711,916 | $ 2,244,740 | $ 929,671 | ||||||
Accumulated net investment income (loss) included in net assets at end of period | $ 5,689 | $ 802 | $ 168,212 | $ 3,186 | $ 4,035 | $ (860) | ||||||
Huntington VA Funds
Statements of Changes in Net Assets (continued)
| Huntington VA | Huntington VA | Huntington VA | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
| Six Months | Year Ended | Six Months | Year Ended | Six Months | Year Ended | ||||||
Increase (Decrease) in Net Assets | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||
Operations: | ||||||||||||
Net investment income (loss) | $ 167,226 | $ 76,533 | $ 5,538 | $ (1,525) | $ (1,448) | $ (1,889) | ||||||
Net realized gain (loss) on investments | (43,340) | (34,959) | (47,662) | 8,034 | 5,104 | (14,436) | ||||||
Net change in unrealized appreciation/depreciation of investments | 475,690 | (29,177) | 545,172 | (256,055) | 151,407 | (37,336) | ||||||
Change in net assets resulting from operations | 599,576 | 12,397 | 503,048 | (249,546) | 155,063 | (53,661) | ||||||
Distributions to Shareholders: | ||||||||||||
From net investment income | -- | (62,054) | -- | -- | -- | -- | ||||||
From net realized gains | -- | -- | -- | (56) | -- | -- | ||||||
Change in net assets resulting from distributions to shareholders | -- | (62,054) | -- | (56) | -- | -- | ||||||
Share Transactions: | ||||||||||||
Proceeds from sales of shares | 5,794,739 | 3,250,384 | 2,729,298 | 3,163,014 | 674,791 | 639,984 | ||||||
Distributions reinvested | -- | 62,054 | -- | 56 | -- | -- | ||||||
Cost of shares redeemed | (121,983) | (86,231) | (59,065) | (96,065) | (7,228) | (58,610) | ||||||
Change in net assets resulting from share transactions | 5,672,756 | 3,226,207 | 2,670,233 | 3,067,005 | 667,563 | 581,374 | ||||||
Change in net assets | 6,272,332 | 3,176,550 | 3,173,281 | 2,817,403 | 822,626 | 527,713 | ||||||
Net Assets: | ||||||||||||
Beginning of period | 3,396,373 | 219,823 | 3,105,903 | 288,500 | 755,468 | 227,755 | ||||||
End of period | $ 9,668,705 | $ 3,396,373 | $ 6,279,184 | $ 3,105,903 | $ 1,578,094 | $ 755,468 | ||||||
Accumulated net investment income (loss) included in net assets at end of period | $ 182,655 | $ 15,462 | $ 5,538 | $ (1,525) | $ (1,448) | $ (1,889) | ||||||
Huntington VA Funds
Financial Highlights
(For a share outstanding throughout each period)
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Year ended December 31, | Net Asset | Net Investment | Net Realized and | Total from | Distributions | Return of | ||||||||
Huntington VA Growth Fund | ||||||||||||||
2001(4) | $ | 10.00 |
|
| (0.04) |
| (0.74) |
| (0.78) |
| -- |
| -- | |
2002 | $ | 9.22 |
|
| -- |
| (1.90) |
| (1.90) |
| -- |
| -- | |
2003(10) | $ | 7.32 |
|
| 0.01 |
| 0.27 |
| 0.28 |
| -- |
| -- | |
Huntington VA Income Equity Fund | ||||||||||||||
1999(5) | $ | 10.00 |
|
| 0.06 |
| (0.13) |
| (0.07) |
| (0.05) |
| (0.04) | |
2000 | $ | 9.84 |
|
| 0.33 |
| 0.23 |
| 0.56 |
| (0.33) |
| -- | |
2001 | $ | 10.07 |
|
| 0.18 |
| 0.06 |
| 0.24 |
| (0.20) |
| (0.01) | |
2002 | $ | 10.10 |
|
| 0.23 |
| (1.22) |
| (0.99) |
| (0.23) |
| -- | |
2003(10) | $ | 8.88 |
|
| 0.11 |
| 0.43 |
| 0.54 |
| -- |
| -- | |
Huntington VA Rotating Markets Fund | ||||||||||||||
2001(6) | $ | 10.00 |
|
| -- |
| 0.45 |
| 0.45 |
| -- |
| -- | |
2002 | $ | 10.45 |
|
| (0.01) |
| (1.57) |
| (1.58) |
| -- |
| -- | |
2003(10) | $ | 8.87 |
|
| 0.02 |
| 0.65 |
| 0.67 |
| -- |
| -- | |
Huntington VA Dividend Capture Fund | ||||||||||||||
2001(6) | $ | 10.00 |
|
| 0.14 |
| 0.10 |
| 0.24 |
| (0.09) |
| -- | |
2002 | $ | 10.15 |
|
| 0.33 |
| (0.33) |
| -- |
| (0.34) |
| -- | |
2003(10) | $ | 9.81 |
|
| 0.16 |
| 0.68 |
| 0.84 |
| -- |
| -- | |
Huntington VA Mid Corp America Fund | ||||||||||||||
2001(6) | $ | 10.00 |
|
| (0.02) |
| 1.17 |
| 1.15 |
| -- |
| -- | |
2002 | $ | 11.15 |
|
| -- |
| (1.45) |
| (1.45) |
| -- |
| -- | |
2003(10) | $ | 9.70 |
|
| 0.01 |
| 0.89 |
| 0.90 |
| -- |
| -- | |
Huntington VA New Economy Fund | ||||||||||||||
2001(6) | $ | 10.00 |
|
| (0.03) |
| 0.93 |
| 0.90 |
| -- |
| -- | |
2002 |
| $ | 10.90 |
|
| (0.02) |
| (1.47) |
| (1.49) |
| -- |
| -- |
2003(10) |
| $ | 9.41 |
|
| (0.01) |
| 1.24 |
| 1.23 |
| -- |
| -- |
(1) Represents a return of capital for federal income tax purposes.
(2) Total return figures are based on a share outstanding throughout the period and assumes reinvestment of distributions at net asset value. Total return figures do not reflect charges pursuant to the terms of the variable annuity contracts funded by separate accounts that invest in the Fund's shares.
(3) This expense decrease is reflected in both the expense and net investment income ratios.
(4) Reflects operations for the period from May 1, 2001 (commencement of operations) to December 31, 2001.
(5) Reflects operations for the period from October 21, 1999 (commencement of operations) to December 31, 1999.
(6) Reflects operations for the period from October 15, 2001 (commencement of operations) to December 31, 2001.
(7) Not annualized.
(8) Computed on annualized basis.
(9) Does not include the effect of expenses of underlying funds.
(10) Six months ended June 30, 2003 (Unaudited).
Huntington VA Funds
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| Ratios to Average Net Assets |
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Total | Net Asset | Total | Net Expenses | Net | Expense Waiver/ | Net ssets, End | Portfolio | |||||||||||||||||
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-- |
| $ | 9.22 |
| (7.80 | )%(7) |
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| 2.00 | %(8) |
| 1.11 | %(8) |
| 14.85 | %(8) |
| $ | 434 |
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| 0 | % | |
-- |
| $ | 7.32 |
| (20.56 | )% |
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| 1.02 | % |
| 0.14 | % |
| 0.64 | % |
| $ | 3,654 |
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| 2 | % | |
-- |
| $ | 7.60 |
| 3.83 | %(7) |
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| 1.00 | %(8) |
| 0.20 | %(8) |
| 0.14 | %(8) |
| $ | 7,171 |
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| 6 | % | |
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(0.09) |
| $ | 9.84 |
| (0.72 | )%(7) |
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| 0.77 | %(8) |
| 4.30 | %(8) |
| 10.08 | %(8) |
| $ | 2,221 |
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| 0 | % | |
(0.33) |
| $ | 10.07 |
| 5.85 | % |
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| 0.77 | % |
| 3.66 | % |
| 1.47 | % |
| $ | 3,516 |
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| 6 | % | |
(0.21) |
| $ | 10.10 |
| 2.34 | % |
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| 1.91 | % |
| 1.76 | % |
| 0.15 | % |
| $ | 4,453 |
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| 38 | % | |
(0.23) |
| $ | 8.88 |
| (9.96 | )% |
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| 1.11 | % |
| 2.81 | % |
| 0.49 | % |
| $ | 8,712 |
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| 4 | % | |
-- |
| $ | 9.42 |
| 6.08 | %(7) |
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| 1.00 | %(8) |
| 3.04 | %(8) |
| 0.13 | %(8) |
| $ | 14,737 |
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-- |
| $ | 10.45 |
| 4.50 | %(7) |
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| 2.00 | %(8)(9) |
| (0.21 | )%(8) |
| 16.20 | %(8) |
| $ | 210 |
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| 0 | % | |
-- |
| $ | 8.87 |
| (15.12 | )% |
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| 1.21 | %(9) |
| (0.20 | )% |
| 2.42 | % |
| $ | 930 |
|
| 113 | % | |
-- |
| $ | 9.54 |
| 7.55 | %(7) |
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| 1.00 | %(8)(9) |
| 0.55 | %(8) |
| 0.21 | %(8) |
| $ | 2,245 |
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| 113 | % | |
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(0.09) |
| $ | 10.15 |
| 2.44 | %(7) |
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| 2.00 | %(8) |
| 5.25 | %(8) |
| 15.47 | %(8) |
| $ | 220 |
|
| 12 | % | |
(0.34) |
| $ | 9.81 |
| (0.05 | )% |
|
| 1.12 | % |
| 5.89 | % |
| 1.31 | % |
| $ | 3,396 |
|
| 70 | % | |
-- |
| $ | 10.65 |
| 8.56 | %(7) |
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| 1.00 | %(8) |
| 5.81 | %(8) |
| 0.13 | %(8) |
| $ | 9,669 |
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| 39 | % | |
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| $ | 11.15 |
| 11.50 | %(7) |
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| 2.00 | %(8) |
| (0.85 | )%(8) |
| 15.87 | %(8) |
| $ | 289 |
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| 3 | % | |
-- |
| $ | 9.70 |
| (13.00 | )% |
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| 1.15 | % |
| (0.10 | )% |
| 1.09 | % |
| $ | 3,106 |
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| 3 | % | |
-- |
| $ | 10.60 |
| 9.28 | %(7) |
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| 1.00 | %(8) |
| 0.26 | %(8) |
| 0.15 | %(8) |
| $ | 6,279 |
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-- |
| $ | 10.90 |
| 9.00 | %(7) |
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| 2.00 | %(8) |
| (1.20 | )%(8) |
| 15.91 | %(8) |
| $ | 228 |
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| 0 | % | |
-- |
| $ | 9.41 |
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| (13.67 | )% |
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| 1.21 | % |
| (0.44 | )% |
| 2.62 | % |
| $ | 755 |
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| 20 | % |
-- |
| $ | 10.64 |
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| 13.07 | %(7) |
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| 1.00 | %(8) |
| (0.27 | )%(8) |
| 0.24 | %(8) |
| $ | 1,578 |
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| 20 | % |
Huntington VA Funds
Notes to Financial Statements
June 30, 2003 (Unaudited)
(1) Organization
Huntington VA Funds (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "Act"), as an open-end management investment company. The Trust operates six separate series, or mutual funds, each with its own investment objectives and strategies. This report contains the financial statements and financial highlights of the funds listed below (each individually referred to as a "Fund," or collectively as the "Funds"):
Huntington VA Growth Fund (VA Growth Fund)
Huntington VA Income Equity Fund (VA Income Equity Fund)
Huntington VA Rotating Markets Fund (VA Rotating Markets Fund) (formerly Huntington VA Rotating Index Fund)
Huntington VA Dividend Capture Fund (VA Dividend Capture Fund)
Huntington VA Mid Corp America Fund (VA Mid Corp America Fund)
Huntington VA New Economy Fund (VA New Economy Fund)
The assets of each Fund are segregated and a shareholder's interest is limited to the Fund in which shares are held.
The Trust accounts for the assets, liabilities and operations of each Fund separately. Shares of the Funds are not offered directly to the public, but sold only to Hartford Life Insurance Company's separate accounts in connection with the Huntington Director, Huntington Director Outlook and Hartford Huntington Leaders Outlook variable contracts and policies. Under an exemptive order granted by the Securities and Exchange Commission and procedures adopted by the Trust's Board of Trustees, shares of the Funds may be sold to separate accounts of variable life and variable annuity contracts and policies of other insurance companies.
(2) Significant Accounting Policies
The following is a summary of significant accounting policies consistently followed by each Fund in the preparation of its financial statements. These policies are in conformity with accounting principles generally accepted in the United States of America ("GAAP").
A. Investment Valuations
Equity securities traded on a national securities exchange or quoted on the NASDAQ National Market System are valued at their last-reported sale price on the principal exchange or official closing price as reported by NASDAQ or, if there is no reported sale, and in the case of over-the-counter securities not included in the NASDAQ National Market System, at a bid price estimated by an independent pricing service. Fixed income securities traded on a national securities exchange or in the over-the-counter market are valued at their last-reported sales price or, if there is no reported sale, at a bid price by an independent pricing service. Short-term investments with remaining maturities of 60 days or less at the time of purchase are valued at amortized cost, which approximates fair value. Options contracts are valued at the last quoted bid price as reported on the primary exchange or board of trade on which such options are traded. Investments in other open-end investment companies are valued at net asset val ue. Securities for which no quotations are readily available are valued at fair value as determined in good faith using methods approved by the Board of Trustees (the "Trustees").
B. Repurchase Agreements
It is the policy of the Funds to require the custodian bank to take possession, to have legally segregated in the Federal Reserve Book Entry System, or to have segregated within the custodian bank's vault, all securities held as collateral under repurchase agreement transactions. Additionally, procedures have been established by the Funds to monitor, on a daily basis, the market value of each repurchase agreement's collateral to ensure that the value of collateral at least equals the repurchase price to be paid under the repurchase agreement.
The Funds will only enter into repurchase agreements with banks and other recognized financial institutions, such as broker/dealers, which are deemed by the Funds' adviser to be creditworthy pursuant to the guidelines and/or standards reviewed or established by the Trustees. Risks may arise from the potential inability of counterparties to honor the terms of the repurchase agreement. Accordingly, the Funds could receive less than the repurchase price on the sale of collateral securities.
C. Investment Income, Expenses and Distributions
Interest income and expenses are accrued daily. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at fair value. Expenses directly attributable to a Fund are charged to that Fund. Expenses not directly attributable to a Fund are allocated proportionately among various Funds or all Funds within the Trust in relation to the net assets of each Fund or on another reasonable basis.
D. Federal Taxes
It is the policy of each Fund to qualify or continue to qualify as a regulated investment company by complying with the provisions available to certain investment companies, as defined in applicable sections of the Internal Revenue Code, and to make distributions of net investment income and net realized capital gains sufficient to relieve it from all, or substantially all, federal income taxes. In addition to complying with the federal tax requirements applicable to regulated investment companies, the Funds also plan to comply with certain diversification standards applicable to underlying assets of variable annuity contracts in order to avoid taxation on the variable contract owners with respect to earnings allocable to the contract from investments in the Funds.
Tax cost of securities differs from cost for financial reporting purposes by the amount of losses recognized for financial reporting purposes in excess of federal tax purposes.
As of June 30, 2003, the tax cost of securities and the breakdown of unrealized appreciation (depreciation) for each Fund was as follows:
Fund | Tax Cost | Unrealized | Unrealized | Net | ||||
---|---|---|---|---|---|---|---|---|
VA Growth Fund | $ 7,812,854 | $ 290,212 | $ (442,871) | $ (152,659) | ||||
VA Income Equity Fund | $14,336,686 | $1,190,981 | $ (853,377) | $ 337,604 | ||||
VA Rotating Markets Fund | $ 2,075,333 | $ 168,266 | $ (1,634) | $ 166,632 | ||||
VA Dividend Capture Fund | $ 9,296,260 | $ 522,287 | $ (72,692) | $ 449,595 | ||||
VA Mid Corp America Fund | $ 5,955,221 | $ 508,235 | $ (194,507) | $ 313,728 | ||||
VA New Economy Fund | $ 1,445,394 | $ 179,601 | $ (46,536) | $ 133,065 |
E. Use of Estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses for the period. Actual results could differ from those estimates.
F. Other
Investment transactions are accounted for on a trade date basis. Securities gains and losses are calculated on the identified cost basis.
(3) Shares of Beneficial Interest
The Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest (with no par value). Transactions in capital stock were as follows:
VA Growth Fund | VA Income Equity Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Six Months Ended June 30, 2003 | Year Ended December 31, 2002 | Six Months Ended June 30, 2003 | Year Ended December 31, 2002 | |||||||||||||
Shares | Dollars | Shares | Dollars | Shares | Dollars | Shares | Dollars | |||||||||
Shares sold | 452,181 | $3,328,214 | 456,736 | $3,672,461 | 594,787 | $5,263,343 | 544,376 | $5,159,774 | ||||||||
Distributions reinvested | -- | -- | 265 | 2,001 | -- | -- | 18,448 | 173,220 | ||||||||
Shares redeemed | (8,544) | (61,646) | (4,693) | (36,853) | (12,358) | (110,280) | (22,087) | (200,915) | ||||||||
NET CHANGE RESULTING FROM SHARE TRANSACTIONS | 443,637 | $3,266,568 | 452,308 | $3,637,609 | 582,429 | $5,153,063 | 540,737 | $5,132,079 | ||||||||
| VA Rotating Markets Fund | VA Dividend Capture Fund | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Six Months Ended | Year Ended | Six Months Ended | Year Ended | ||||||||||||
| Shares | Dollars | Shares | Dollars | Shares | Dollars | Shares | Dollars | ||||||||
Shares sold | 133,541 | $1,189,214 | 91,608 | $ 850,534 | 573,753 | $5,794,739 | 326,916 | $3,250,384 | ||||||||
Distributions reinvested | -- | -- | -- | -- | -- | -- | 6,251 | 62,054 | ||||||||
Shares redeemed | (3,020) | (26,596) | (6,852) | (66,532) | (11,807) | (121,983) | (8,781) | (86,231) | ||||||||
NET CHANGE RESULTING FROM SHARE TRANSACTIONS | 130,521 | $1,162,618 | 84,756 | $ 784,002 | 561,946 | $5,672,756 | 324,386 | $3,226,207 | ||||||||
| VA Mid Corp America Fund | VA New Economy Fund | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Six Months Ended | Year Ended | Six Months Ended | Year Ended | ||||||||||||
| Shares | Dollars | Shares | Dollars | Shares | Dollars | Shares | Dollars | ||||||||
Shares sold | 278,333 | $2,729,298 | 303,785 | $3,163,014 | 68,793 | $674,791 | 65,509 | $639,984 | ||||||||
Distributions reinvested | -- | -- | 5 | 56 | -- | -- | -- | -- | ||||||||
Shares redeemed | (5,990) | (59,065) | (9,588) | (96,065) | (780) | (7,228) | (6,104) | (58,610) | ||||||||
NET CHANGE RESULTING FROM SHARE TRANSACTIONS | 272,343 | $2,670,233 | 294,202 | $3,067,005 | 68,013 | $667,563 | 59,405 | $581,374 | ||||||||
(4) Investment Adviser Fee and Other Transactions with Affiliates
Investment Advisory Fee--Huntington Asset Advisors, Inc., a subsidiary of The Huntington National Bank ("Huntington"), serves as the Funds' investment adviser (the "Advisor"). The Advisor receives for its services an annual investment advisory fee based on a percentage of each Fund's average daily net assets as listed below.
Fund | Advisory Fee |
---|---|
VA Growth Fund | 0.60 % |
VA Income Equity Fund | 0.60 % |
VA Rotating Markets Fund | 0.60 % |
VA Dividend Capture Fund | 0.60 % |
VA Mid Corp America Fund | 0.60 % |
VA New Economy Fund | 0.60 % |
The Advisor has contractually agreed to waive all or a portion of its investment advisory fee (based on average daily net assets) to which it is otherwise entitled to receive from the Funds and/or to reimburse certain operating expenses of each Fund in order to limit the total operating expense for each Fund to not more than 1.00% of each Fund's average daily net assets for the period starting January 1, 2003 through April 30, 2004.
Administrative and Financial Administration Fees--Federated Services Company ("FServ") provides the Funds with certain administrative personnel and services. Huntington currently serves as sub-administrator to the Trust, assisting with the provision of administrative services necessary to operate the Funds. Huntington also serves as financial administrator providing portfolio accounting services to the Funds. Effective May 1, 2002, Huntington sub-contracted certain fund accounting services to BISYS Fund Services Ohio, Inc. The fees paid for administrative and sub-administrative services are based on the level of average aggregate net assets of the Trust for the period.
Transfer and Dividend Disbursing Agent Fees and Expenses--Effective June 10, 2002, Unified Fund Services, Inc. ("Unified") became transfer and dividend disbursing agent for the Funds. Prior to this date, State Street Bank and Trust Company provided these services. For its services, Unified receives fees based on the size, type, and number of accounts and transactions made by shareholders.
Custodian Fees--Huntington serves as the Fund's custodian. Huntington's fee is based on the level of the Fund's average daily net assets for the period, plus out-of-pocket expenses.
General--Certain Officers of the Trust are Officers and/or Directors or Trustees of the above companies.
(5) VA Rotating Markets Fund Structure
The VA Rotating Markets Fund ("Fund"), in accordance with its prospectus, may seek to achieve its investment objectives by investing in other investment companies ("Underlying Funds") with similar investment objectives. As a result, investors in the Fund incurred expenses of both the Fund and Underlying Funds, including transaction costs related to the purchases and sales of Underlying Fund shares.
(6) Investment Transactions
Purchases and sales of investments, excluding short-term securities and long-term U.S. government securities (and in-kind contributions), for the six months ended June 30, 2003 were as follows:
Fund | Purchases | Sales | ||
---|---|---|---|---|
VA Growth Fund | $ 3,791,712 | $ 241,668 | ||
VA Income Equity Fund | 3,974,666 | 58,018 | ||
VA Rotating Markets Fund | 3,274,537 | 1,552,394 | ||
VA Dividend Capture Fund | 7,653,453 | 2,154,070 | ||
VA Mid Corp America Fund | 3,087,905 | 793,533 | ||
VA New Economy Fund | 838,110 | 195,238 |
Huntington VA Funds
Last Meeting of Shareholders
The Huntington VA Funds held a Special Meeting of shareholders of Huntington VA Rotating Index Fund on April 17, 2003. On February 18, 2003, the record date for shareholders voting at the meeting, there were 136,569 total outstanding shares for the Huntington VA Rotating Index Fund. The following items were considered by shareholders and the results of their voting are listed below. Unless otherwise noted, each matter was approved.
1. Approval of changing the Fund's fundamental investment objective from seeking to approximate the returns of a broad-based equity market index to one of seeking capital appreciation:
For | Against | Abstentions | ||
---|---|---|---|---|
113,334 |
| 12 |
| 205 |
2. Elimination of a fundamental investment policy of investing at least 80% of total assets in stocks comprising a broad-based equity index:
For | Against | Abstentions | ||
---|---|---|---|---|
110,963 |
| 2,383 |
| 205 |
Variable investment options are not bank deposits or obligations, are not guaranteed by any bank, and are not insured or guaranteed by U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency. Investment in variable investment options involves investment risk, including the possible loss of principal.
This report is authorized for Distribution to prospective investors only when preceded or accompanied by the Funds’ prospectus, which contains facts concerning its objective and policies, management fees, expenses and other information.
The Huntington National Bank, a subsidiary of Huntington Bancshares, Inc. is the Custodian, Sub-Administrator and Financial Administrator of the Huntington VA Funds.
Huntington Asset Advisors, Inc., a subsidiary of The Huntington National Bank, serves as Investment Advisor to the Funds. Federated Services Co. and Edgewood Services, Inc., the Administrator and Distributor of the Huntington VA Funds, respectively, are not affiliated with The Huntington National Bank.
Cusip 446771206
Cusip 446771107
Cusip 446771701
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Cusip 446771503
Cusip 446771602
Item 2. Code of Ethics Not Applicable Item 3. Audit Committee Financial Expert Not Applicable Item 4. Principal Accountant Fees and Services Not Applicable Item 5. Audit Committee of Listed Registrants Not Applicable Item 6. [Reserved] Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies Not Applicable Item 8. [Reserved] Item 9. Controls and Procedures (a) The registrant's Principal Executive Officer and Principal Financial Officer have concluded that the registrant's disclosure controls and procedures (as defined in rule 30a-3(c) under the Act) are effective in design and operation and are sufficient to form the basis of the certifications required by Rule 30a-2 under the Act, based on their evaluation of these disclosure controls and procedures within 90 days of the filing date of this report on Form N-CSR. (b) There were no changes in the registrant's internal control over financial reporting (as defined in rule 30a-3(d) under the Act) during the last fiscal half year (the registrant's second half year in the case of an annual report) that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. Item 10. Exhibits (a) A separate certification for each principal executive and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)). (b) The certifications required by Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)), Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350). SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Registrant Huntington VA Funds By /s/ Charles L. Davis, Jr. Charles L. Davis, Jr., Chief Executive Officer Date September 5, 2003 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By /s/ Charles L. Davis, Jr. Charles L. Davis, Jr., Chief Executive Officer Date September 5, 2003 By /s/ Bryan C. Haft Bryan C. Haft, Treasurer Date September 5, 2003