Mutual Fund & Variable Insurance Trust N-CSRS Certified semi-annual shareholder report (management investment company)

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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM N-CSR

                   CERTIFIED SHAREHOLDER REPORT OF REGISTERED
                         MANAGEMENT INVESTMENT COMPANIES

                  Investment Company Act file number: 811-05010
                              THE HUNTINGTON FUNDS
               (Exact name of registrant as specified in charter)
            5800 Corporate Drive Pittsburgh, Pennsylvania 15237-7010
               (Address of principal executive offices)   (Zip code)
                              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 Services)

                                   Copies to:
             David C. Mahaffey, Esq., and Christine S. Boehme, Esq.
                            Sullivan & Worcester
                               1666 K Street, N.W.
                              Washington, DC 20006

Registrant's telephone number, including area code: 1-800-544-8347

Date of fiscal year end: December 31

Date of reporting period: Six months ended June 30, 2004

Item 1. Reports to Stockholders.

[Logo of Huntington Funds]

Semi-Annual Shareholder Report

Money Market Funds

Huntington Florida Tax-Free Money Fund

Huntington Money Market Fund

Huntington Ohio Municipal Money Market Fund

Huntington U.S. Treasury Money Market Fund

Equity Funds

Huntington Dividend Capture Fund

Huntington Growth Fund

Huntington Income Equity Fund

Huntington International Equity Fund

Huntington Macro 100 Fund

Huntington Mid Corp America Fund

Huntington New Economy Fund

Huntington Rotating Markets Fund

Huntington Situs Small Cap Fund

Income Funds

Huntington Fixed Income Securities Fund

Huntington Intermediate Government Income Fund

Huntington Michigan Tax-Free Fund

Huntington Mortgage Securities Fund

Huntington Ohio Tax-Free Fund

Huntington Short/Intermediate Fixed Income Securities Fund

JUNE 30, 2004

TRUST SHARES

INVESTMENT A SHARES

INVESTMENT B SHARES

INTERFUND SHARES

Portfolio of Investments

Huntington Florida Tax-Free Money Fund

June 30, 2004 (Unaudited)

Principal Amount				Value
Municipal Bonds -- 99.4%
Florida -- 96.9%
$	700,000	Alachua County, FL, School District Refunding, (FGIC Ins), 2.000%,7/1/04	$	700,000
	250,000	Bay County, FL, Transportation Revenue, (FGIC Ins), 4.900%, 9/1/04		251,566
	470,000	Boynton Beach, FL, Public Service Tax Revenue, (MBIA Ins), 2.000%, 11/1/04		471,246
	445,000	Brevard County, FL, Utility Revenue, (FGIC), 5.000%, 3/1/05		456,169
	1,250,000	Broward County, FL, Housing Finance Authority Multifamily Revenue, (FNMA Ins), 1.080%, 5/15/27**		1,250,000
	2,000,000	Broward County, FL, Housing Financial Authority, (FHLMC Ins), 1.100%, 9/1/26**		2,000,001
	150,000	Broward County, FL, School Board, Certificate Participation Refunding, Series A, (AMBAC Ins), 2.000%, 7/1/05		150,518
	900,000	Clay County Florida Housing Finance Authority Multifamily Revenue, (Freddie Mac Ins), 1.060%, 11/1/14**		900,000
	250,000	Clay County, FL, Housing Finance Authority Multifamily Refunding Revenue, Series B, (Freddie Mac Ins), 1.060%, 11/1/14**		250,000
	500,000	Dade County, FL, Industrial Development Authority Revenue, (LOC-Bank of America), 1.080%, 6/1/22**		500,000
	500,000	Duval County, FL, Housing Finance Authority Multifamily Refunding Revenue, (Freddie Mac Ins), 1.080%, 10/1/32**		500,000
	800,000	Duval County, FL, Housing Finance Authority Multifamily Revenue, (Freddie Mac Ins), 1.080%, 12/1/32**		800,000
	255,000	Eustis, FL, Health Facilities Autority Revenue, (LOC-Suntrust Bank), 1.080%, 12/1/15**		255,000
	320,000	Florida State Division Board Finance Department Revenue, (MBIA Ins), 2.000%, 7/1/04		320,000
	100,000	Florida Water Pollution Control Funding Corporate Revenue, 3.500%, 1/15/05		101,262
	350,000	Fort Lauderdale, FL, Crest Prep School Project Revenue, (FSA Ins), 1.080%, 6/1/32**		350,000
	850,000	Hernando County, FL, Capital Revenue, (MBIA Ins), 2.000%, 2/1/05		854,687
	100,000	Hillsborough County, FL, School Board Master Lease Program, Series A, (MBIA Ins), 4.250%, 7/1/04		100,000
	1,000,000	Hollywood, FL, Water & Sewage Refunding Revenue, (FSA Ins), 2.000%, 10/1/04		1,002,245
	400,000	Jacksonville, FL, Electric Authority Revenue, Series B, (LOC-Bank of America), 1.100%, 10/1/30**		400,000
	100,000	Jacksonville, FL, Health Facilities Authority Hospital Revenue, (Charity Obligation Group Series A), 4.500%, 8/15/04		100,391
	300,000	Jacksonville, FL, Health Facilities Authority Revenue, Genesis Rehabilitation Hospital, (LOC-Bank of America), 1.100%, 5/1/21**		300,000
	750,000	Jea, FL, Saint John's River Power Refunding Revenue, Issue 2, Series 18, 4.000%, 10/1/04		755,453
	100,000	Marion County, FL, Utility System Revenue, (MBIA Ins), 2.000%, 12/1/04		100,373
	100,000	Orange County, FL, Health Facilities Authority Revenue, (LOC-Suntrust Bank), 1.080%, 11/15/14**		100,000
	900,000	Orange County, FL, School Board Certificate Participation, Series B, (AMBAC Ins), 1.060%, 8/1/25**		900,000
	215,000	Orange County, FL, Tourist Development Tax Revenue, Series B, (MBIA Ins), 6.000%, 10/1/24		221,932
	1,000,000	Palm Beach County, FL, Educational Facility Authority Revenue, (LOC-Bank of America), 1.130%, 12/1/31**		1,000,000
	295,000	Palm Beach County, FL, Public Improvements, Recreational Facilities Refunding Revenue, 1.000%, 7/1/04		295,000
	100,000	Palm Beach County, FL, Refunding, GO, 4.000%, 12/1/04		101,203
	760,000	Palm Beach County, FL, Revenue, (AMBAC Ins), 1.050%, 3/1/27**		760,000
	200,000	Palm Beach County, FL, Revenue, (LOC-Northern Trust Company), 1.050%, 5/1/25**		200,000
	1,000,000	Palm Beach County, FL, Revenue, (LOC-Northern Trust Company), 1.050%, 3/1/30**		1,000,000
	900,000	Palm Beach County, FL, Revenue, Henry Morrison Flagler Project, (LOC-Northern Trust Company), 1.070%, 11/1/36**		900,000
	300,000	Palm Beach County, FL, School Board Certificate Participation, Series A, (AMBAC Ins), 4.700%, 8/1/04		300,908
	495,000	Pinellas County, FL, Education Facilities Authority Revenue, Canterbury School of Florida Project, (LOC-Suntrust Bank), 1.060%, 8/1/20**		495,000
	915,000	Pinellas County, FL, Educational Facilities Authority Revenue, (LOC-Suntrust Bank), 1.060%, 7/1/20**		915,000
	700,000	Pinellas County, FL, Health Facilities Authority Refunding Revenue, (AMBAC Ins), 1.100%, 12/1/15**		700,000
	100,000	Polk County, FL, School Board Partnership, (FSA Ins), 2.000%, 1/1/05		100,445
	925,000	Sarasota County, FL, Hospital Improvements Revenue, Series A, (AMBAC Ins), 1.140%, 7/1/37**		925,000
	1,000,000	Seminole County, FL, County School District, GO, 2.000%, 8/20/04		1,001,352
$	225,000	Seminole County, FL, Solid Waste Disposal Systems Refunding Revenue, (FSA Ins), 2.000%, 10/1/04	$	225,504
	500,000	Tampa, FL, Occupational License Tax Refunding Revenue, Series C, (FGIC Ins), 1.020%, 10/1/27**		500,000
				23,510,255
Ohio -- 2.1%
	500,000	Mason, OH, Sewer System Revenue, (MBIA Ins), 2.000%, 12/1/04		501,759
Puerto Rico -- 0.4%
	100,000	Puerto Rico, Electric Power Authority Refunding Revenue, Series EE, (MBIA Ins), 5.000%, 7/1/04		100,000
Total Municipal Bonds (Cost $24,112,014)				24,112,014
Cash Equivalent -- 0.3%
	76,114	Fidelity Institutional Tax-Exempt Fund**		76,114
Total Cash Equivalent (Cost $76,114)				76,114
Total Investments (Cost $24,188,128) (a) -- 99.7%				24,188,128
Other Assets In Excess of Liabilities -- 0.3%				84,679
Net Assets -- 100.0%			$	24,272,807

(a) Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington Money Market Fund

June 30, 2004 (Unaudited)

Principal Amount				Value
U.S. Government Agencies -- 90.3%
Federal Farm Credit Bank -- 19.1%
$	10,000,000	1.000%, 7/2/04	$	10,000,000
	15,000,000	1.020%, 7/8/04		14,997,025
	15,000,000	1.050%, 7/13/04		14,994,750
	15,000,000	1.010%, 7/20/04		14,992,004
	26,000,000	1.050%, 7/30/04		25,977,888
	15,000,000	1.170%, 8/20/04		14,975,625
	15,000,000	1.420%, 9/17/04		14,953,850
	15,000,000	1.480%, 9/29/04		14,944,500
				125,835,642
Federal Home Loan Bank -- 26.1%
	20,000,000	1.100%, 7/9/04		19,995,111
	20,000,000	1.250%, 7/21/04		19,986,111
	15,000,000	1.220%, 7/23/04		14,988,817
	15,000,000	1.000%, 8/4/04		14,985,975
	25,000,000	1.000%, 8/11/04		24,971,528
	12,000,000	4.625%, 8/13/04		12,049,330
	15,000,000	1.250%, 8/20/04		14,973,958
	15,000,000	1.290%, 8/27/04		14,969,363
	25,000,000	1.220%, 9/1/04		24,947,343
$	10,000,000	1.140%, 10/6/04	$	9,969,283
				171,836,819
Federal Home Loan Mortgage Corporation -- 15.2%
	15,000,000	1.010%, 7/13/04		14,994,950
	10,465,000	6.250%, 7/15/04		10,485,301
	15,000,000	1.060%, 7/26/04		14,989,167
	15,000,000	1.280%, 8/23/04		14,971,733
	45,000,000	1.160% - 1.310%, 8/24/04		44,917,200
				100,358,351
Federal National Mortgage Association -- 21.6%
	15,000,000	1.400%, 7/7/04		14,997,475
	15,000,000	1.010%, 7/14/04		14,994,529
	15,000,000	1.000%, 7/28/04		14,988,750
	15,000,000	1.010%, 8/4/04		14,985,692
	15,000,000	1.280%, 8/10/04		14,978,667
	15,000,000	1.030%, 8/18/04		14,979,400
	15,000,000	1.400%, 9/8/04		14,959,750
	8,000,000	3.500%, 9/15/04		8,035,416
$	30,000,000	1.010% - 1.060%, 8/25/04	$	29,952,676
				142,872,355
Student Loan Marketing Association -- 8.3%
	15,000,000	1.441%, 8/19/04**		15,000,000
	15,000,000	1.421%, 9/16/04**		15,000,000
	15,000,000	1.451%, 10/21/04**		15,000,000
	10,000,000	1.336%, 11/18/04**		10,000,000
				55,000,000
Total U.S. Government Agencies (Cost $595,903,167)				595,903,167
Principal Amount or Shares				Value
Repurchase Agreement -- 6.5%
$	43,163,400	Morgan Stanley Dean Witter & Co., 1.180%, dated 6/30/04, due 7/1/04, (Fully collateralized by U.S. Treasury securities)	$	43,163,400
Total Repurchase Agreement (Cost $43,163,400)				43,163,400
Commercial Paper -- 2.3%
Bank Holding Companies -- 2.3%
	15,000,000	International Bank for Reconstruction & Development, 1.020%, 7/6/04		14,997,875
Total Commercial Paper (Cost $14,997,875)				14,997,875
Cash Equivalent -- 0.9%
	6,000,000	Meeder Institutional Money Market Fund**		6,000,000
Total Cash Equivalent (Cost $6,000,000)				6,000,000
Total Investments (Cost $660,064,442) (a) -- 100.0%				660,064,442
Other Assets in Excess of Liabilities -- 0.0%				148,962
Net Assets -- 100.0%			$	660,213,404

(a) Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington Ohio Municipal Money Market Fund

June 30, 2004 (Unaudited)

Principal Amount				Value
Municipal Bonds -- 93.9%
Ohio -- 92.0%
$	2,500,000	Akron, Bath, OH, Hospital District Revenue, 1.100%, 11/1/34**	$	2,500,000
	1,280,000	Ashland, OH, GO BAN, 2.000%, 5/26/05		1,283,968
	500,000	Butler County, OH, GO, BAN, 2.000%, 9/23/04		501,078
	1,145,000	Butler County, OH, GO, BAN, 1.120%, 10/14/04		1,145,000
	900,000	Butler County, OH, Hospital Facilities Revenue, (Middletown Regional Hospital), (LOC-Bank One N.A.), 1.080%, 11/1/10**		900,000
	3,000,000	Cincinnati & Hamilton County, OH, Port Authority, Revenue, (Kenwood Office Assoc. Project), (LOC-Fifth Third Bank), 1.130%, 9/1/25**		3,000,000
	120,000	Cincinnati, OH, GO, BAN, 5.375%, 12/1/04		122,101
	500,000	Clark County, OH, GO, BAN, 1.440%, 11/19/04		500,455
	2,617,000	Cleveland Heights, OH, GO, BAN, 1.200%, 8/19/04		2,617,518
	700,000	Cleveland, OH, Airport System Revenue, (FSA Ins), 1.080%, 1/1/31**		700,000
	2,400,000	Cleveland, OH, Waterworks Revenue, (FGIC Ins), 1.080%, 1/1/33**		2,400,000
	4,000,000	Columbus, OH, Sewer, Refunding Revenue, 1.020%, 6/1/11**		3,999,999
	135,000	Cuyahoga County, OH, Public Improvements, GO, 5.000%, 12/1/04		137,125
	715,000	Dayton, OH, City School District, Series D, GO, (FGIC Ins), 2.000%, 12/1/04		717,635
	750,000	Defiance County, OH, 1.900%, 9/1/04		750,878
	220,000	Dover, OH, Waterworks Systems Refunding Revenue, (FSA Ins), 2.000%, 12/1/04		220,747
	2,000,000	Eastlake, OH, GO, BAN, 2.500%, 12/2/04		2,006,202
	2,450,000	Erie County, OH, GO, BAN, 2.000%, 10/21/04		2,456,673
	1,785,000	Franklin County, OH, Hospital Revenue, 1.070%, 12/1/20**		1,785,000
	4,005,000	Franklin County, OH, Hospital Revenue, (Doctors Ohio Health), Series B, (LOC-National City Bank), 1.080%, 12/1/28**		4,005,000
	200,000	Franklin County, OH, Hospital Revenue, (Holy Cross Health Systems), 1.080%, 6/1/16**		200,000
	5,215,000	Franklin County, OH, Hospital, (Ohio Health Corp.), Refunding Revenue, Series D, (LOC-National City Bank), 1.080%, 7/1/29**		5,215,000
	4,100,000	Franklin County, OH, Industrial Development Revenue, (LOC-Bank One), 1.200%, 11/1/14**		4,100,000
	425,000	Greene County, OH, Series A, GO, BAN, 1.330%, 2/25/05		425,493
	1,400,000	Greenfield, OH, GO, BAN, 1.600%, 8/30/04		1,400,793
	3,000,000	Hamilton County, OH, Economic Development Revenue, (LOC-Fifth Third Bank), 1.100%, 11/1/21**		3,000,000
	4,000,000	Hamilton County, OH, Economic Development Revenue, (Xavier High School Project) (LOC-Fifth Third Bank), 1.080%, 4/1/28**		4,000,000
	3,325,000	Hamilton County, OH, Electric Revenue, Series A, (FSA Ins), 1.080%, 10/1/23**		3,325,000
	3,000,000	Hamilton County, OH, Electric Revenue, Series B, (FSA Ins), 1.080%, 10/1/25**		3,000,000
	2,000,000	Hamilton County, OH, Hospital Facilities Revenue, (Health Alliance), Series B, (MBIA Ins), 1.030%, 1/1/18**		2,000,000
	3,330,000	Hamilton County, OH, Hospital Revenue, (Health Alliance), Series F, 1.030%, 1/1/18**		3,330,000
	4,855,000	Hamilton County, OH, Hospital Revenue, Drake Center Inc., Series A, 1.080%, 6/1/19**		4,855,000
	5,200,000	Hamilton County, OH, Industrial Development Revenue, 1.150%,10/15/12**		5,200,000
	3,900,000	Hamilton County, OH, Parking Facility Improvements Revenue, (LOC-U.S. Bank), 1.080%, 12/1/26**		3,899,999
	1,100,000	Hamilton, OH, GO, BAN, 1.400%, 1/28/05		1,101,876
	910,000	Hamilton, OH, GO, BAN, (Various), 2.000%, 6/2/05		912,470
	3,000,000	Huron County, OH, Hospital Facilities Revenue, (Fisher-Titus Medical Center), Series A, (LOC-National City Bank), 1.080%,12/1/27**		3,000,000
	105,000	Johnstown, OH, GO, (FSA Ins), 2.000%, 12/1/04		105,378
	2,000,000	Kent State University, OH, Ohio Universities Revenue, (General Reciepts), (MBIA Ins), 1.060%, 5/1/31**		2,000,000
	270,000	Kings, OH, Local School District Refunding, GO, (MBIA Ins), 2.000%, 12/1/04		270,950
	500,000	Lake County, OH, Sewer Improvements, GO, BAN, 2.000%, 5/19/05		502,391
	885,000	Lake County, OH, Utility Improvements, GO, BAN, 1.750%, 3/17/05		888,096
	1,000,000	Lima, OH, GO, BAN, 1.290%, 8/5/04		1,000,179
	2,720,000	Lucas County, OH, Health Care Facilities Refunding Revenue, (Sunset Retirement Communities), Series B, (LOC-Fifth Third Bank), 1.070%, 8/15/30**		2,720,000
	100,000	Mahoning County, OH, Sewer Improvements, GO, BAN, 5.700%, 12/1/07		102,878
	1,000,000	Marysville, OH, Public Improvements, GO, 2.000%, 3/9/05		1,002,716
	750,000	Mason City , OH, School District, GO, BAN, 2.000%, 2/10/05		754,085
	860,000	Mason, OH, Sewer System Revenue, (MBIA Ins), 2.000%, 12/1/04		863,025
	1,000,000	Montgomery County, OH, Health Services, Miami Valley Hospital Revenue, Series A (LOC-National City Bank), 1.100%, 11/15/22**		1,000,000
	1,052,000	Northwestern, OH, Water & Sewer Improvements, Special Assessment, BAN, 1.560%, 11/1/04		1,053,607
	1,076,000	Oakwood, OH, GO, BAN, 1.600%, 12/9/04		1,076,933
	1,650,000	Ohio State Air Quality Development Authority Revenue, (Ohio Edison Project), Series A, 1.040%, 2/1/14**		1,650,000
	300,000	Ohio State Building Authority State Correctional Facilities Refunding Revenue, Series A, 4.650%, 10/1/04		302,579
	1,000,000	Ohio State Building Authority State Correctional Facilities Refunding Revenue, Series A, (AMBAC Ins), 4.650%, 10/1/04		1,009,095
	100,000	Ohio State Elementry & Secondary Education Capital Facilities Revenue, Series B, (FSA Ins), 5.000%, 12/1/04		101,619
	2,100,000	Ohio State Higher Education Facilities Revenue, (John Carroll University), (LOC-Allied Irish Bank PLC), 1.100%, 11/15/31**		2,100,000
	3,750,000	Ohio State Higher Education Facilities Revenue, (Xavier University), (LOC-Fifth Third Bank), 1.050%, 11/1/30**		3,750,000
	1,750,000	Ohio State Higher Education Facilities, (LOC-Fifth Third Bank), 1.080%, 9/1/27**		1,750,000
	3,150,000	Ohio State Higher Educational Facilities Common Revenue, (John Carroll), Series B, (LOC-Allied Irish Bank PLC), 1.100%, 2/1/32**		3,150,000
	500,000	Ohio State Highway Capital Improvements, GO, Series E, 4.750%, 5/1/05		513,289
	1,000,000	Ohio State University General Receipts Revenue, (Various), 1.080%, 12/1/21**		1,000,000
	3,060,000	Ohio State University General Receipts Revenue, (Various), 1.030%, 12/1/27**		3,060,000
	2,400,000	Ohio State University General Receipts Revenue, (Various), 1.080%, 12/1/31**		2,400,000
	2,600,000	Ohio State University General Receipts Reveue, (Various), 1.030%, 12/1/17**		2,600,000
	400,000	Ohio State Water Development Authority Revenue, (Various) (MBIA Ins), 1.040%, 12/1/18**		400,000
	700,000	Parma Heights, OH, GO, BAN, 1.450%, 8/12/04		700,198
	400,000	Pickerington, OH, BAN, 1.500%, 10/22/04		400,427
	975,000	Pickerington, OH, Water & Sewer Improvements, GO, BAN, 1.750%, 5/19/05		975,000
	495,000	Pierce Township, OH, Tax Allocation Refunding Revenue, 2.000%, 11/1/04		495,819
	500,000	Richland County, OH, GO, 1.470%, 8/11/04		500,204
	2,500,000	Richland County, OH, GO, 1.510%, 12/16/04		2,504,073
	1,050,000	Richland County, OH, Various Improvements, GO, 1.470%, 9/9/04		1,050,733
	225,000	Sandusky County, OH, GO BAN, 1.200%, 12/2/04		225,000
	1,700,000	Sidney, OH, City School District, Certificate Participation, 1.830%, 7/15/04		1,700,374
	1,500,000	Solon, OH, GO, BAN, 2.000%, 12/9/04		1,505,670
	160,000	Solon, OH, School District, GO, 2.000%, 12/1/04		160,543
	7,375,000	Trumbull County, OH, Health Care Revenue, (Non Profit Corp.), (Radian Ins), 1.140%, 10/1/31**		7,375,000
	500,000	University of Cincinnati General Receipts Revenue, Series B, (Various), (AMBAC Ins), 1.080%, 6/1/31**		500,000
	5,095,000	Warren County, Ohio Health Care Facs, 1.100%, 7/1/21**		5,095,000
	4,600,000	Washington County, OH, Hospital Facilities Revenue, 1.080%, 12/1/33**		4,600,000
	450,000	Wilmington, OH, GO, BAN, 1.530%, 10/1/04		450,312
	5,000,000	Youngstown, OH, City School District, 2.000%, 3/9/05		5,025,506
				151,105,689
Puerto Rico -- 1.9%
	3,000,000	Puerto Rico Electric Power Authority Revenue, Series T, 6.000%, 7/1/16		3,060,000
Total Municipal Bonds (Cost $154,165,689)				154,165,689
Commercial Paper -- 3.4%
Ohio -- 3.4%
	1,500,000	Cuyahoga County, OH, Cleveland Clinic, 1.080%, 8/3/04		1,500,000
	4,000,000	Ohio State University CP, 1.100%, 8/16/04		4,000,000
Total Commercial Paper (Cost $5,500,000)				5,500,000
Cash Equivalent -- 2.5%
	4,039,605	Fidelity Institutional Tax-Exempt Fund**		4,039,605
Total Cash Equivalent (Cost $4,039,605)				4,039,605
Total Investments (Cost $163,705,294) (a) -- 99.8%				163,705,294
Other Assets in Excess of Liabilities -- 0.2%				346,441
Net Assets -- 100.0%			$	164,051,735

(a) Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington U.S. Treasury Money Market Fund

June 30, 2004 (Unaudited)

Principal Amount				Value
Treasury Bills -- 62.7%
$	30,000,000	0.890%-0.930%, 7/1/04	$	30,000,000
	45,000,000	0.910%-0.940%, 7/29/04		44,967,723
	20,000,000	0.920%, 7/22/04		19,989,267
	40,000,000	0.920%-0.990%, 7/8/04		39,992,679
	30,000,000	0.930%-0.940%, 7/15/04		29,989,121
	25,000,000	0.930%-1.070%, 8/5/04		24,975,403
	15,000,000	0.950%, 8/12/04		14,983,375
	15,000,000	1.020%, 9/2/04		14,973,225
	25,000,000	1.090%, 9/30/04		24,930,802
	15,000,000	1.190%, 8/19/04		14,975,704
	15,000,000	1.245%, 9/16/04		14,960,056
	15,000,000	1.260%, 9/9/04		14,963,250
	15,000,000	1.285%, 10/7/04		14,947,529
	10,000,000	1.329%, 10/14/04		9,961,208
Total Treasury Bills (Cost $314,609,342)				314,609,342
Repurchase Agreements -- 37.4%
	30,000,000	Bear Stearns, 0.990%, dated 6/24/04, due 7/1/04, (Fully collateralized by U.S. Treasury securities)		30,000,000
	40,000,000	Credit Suisse First Boston, 1.060%, dated 6/28/04, due 7/2/04 (Fully collateralized by U.S. Treasury securities)		40,000,000
	20,000,000	Goldman Sachs, 1.140%, dated 6/29/04, due 7/6/04 (Fully collateralized by U.S. Treasury securities)		20,000,000
	30,000,000	Morgan Stanley Dean Witter & Co., 1.150%, dated 6/30/04, due 7/7/04, (Fully collateralized by U.S. Treasury securities)		30,000,000
	37,396,700	Morgan Stanley Dean Witter & Co., 1.180%, dated 6/30/04, due 7/1/04, (Fully collateralized by U.S. Treasury securities)		37,396,700
	30,000,000	Salomon Smith Barney, 1.000%, dated 6/24/04, due 7/1/04 (Fully collateralized by U.S. Treasury securities)		30,000,000
Total Repurchase Agreements (Cost $187,396,700)				187,396,700
Total Investments (Cost $502,006,042) (a) -- 100.1%				502,006,042
Liabilities in Excess of Other Assets -- (0.1)%				(402,095	)
Net Assets -- 100.0%			$	501,603,947

(a) Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington Dividend Capture Fund

June 30, 2004 (Unaudited)

Shares				Value
Common Stocks -- 54.8%
Auto/Truck Parts & Equipment -- 1.8%
	32,000	General Motors Corp.	$	1,490,880
Banks -- 6.0%
	14,000	Bank of America Corp.		1,184,680
	28,000	Citigroup, Inc.		1,302,000
	10,000	First Horizon National Corp.		454,700
	28,500	J.P. Morgan Chase & Co.		1,104,945
	23,000	Wachovia Corp.		1,023,500
				5,069,825
Building & Construction -- 1.3%
	35,000	Masco Corp.		1,091,300
Chemicals -- 1.4%
	14,000	Monsanto Co.		539,000
	16,000	The Dow Chemical Co.		651,200
				1,190,200
Computer Services -- 1.0%
	39,000	Hewlett Packard Co.		822,900
Computers -- 0.3%
	10,000	Microsoft Corp.		285,600
Consumer Products -- 0.4%
	5,000	Fortune Brands, Inc.		377,150
Diversified Operations -- 1.0%
	7,000	Ingersoll Rand Co.		478,170
	6,500	Textron, Inc.		385,775
				863,945
Drugs & Health Care -- 1.4%
	30,000	Bristol-Myers Squibb Co.		735,000
	9,000	Merck & Co., Inc.		427,500
				1,162,500
Electric Utility -- 1.3%
	15,000	Exelon Corp.		499,350
	19,000	The Southern Co.		553,850
				1,053,200
Electrical Equipment -- 0.9%
	13,000	Cooper Industries Ltd., Class A		772,330
Electronic Instruments -- 0.3%
	13,000	PerkinElmer, Inc.		260,520
Entertainment -- 0.8%
	12,000	Harrah's Entertainment, Inc.		649,200
Financial Services -- 3.1%
	43,000	American Capital Strategies Ltd.		1,204,860
	21,000	Hartford Financial Services Group, Inc.		1,443,540
				2,648,400
Food & Beverages -- 0.9%
	45,000	Archer-Daniels-Midland Co.		755,100
Gas Utility -- 0.5%
	10,000	Kinder Morgan Energy Partners, LP		406,900
Industrial -- 0.8%
	20,000	General Electric Co.		648,000
Insurance -- 4.5%
	14,000	Ace Ltd.		591,920
	23,000	Allstate Corp.		1,070,650
	24,000	Lincoln National Corp.		1,134,000
	25,000	St. Paul Cos., Inc.		1,013,500
				3,810,070
Machinery -- 0.5%
	5,000	Caterpillar, Inc.		397,200
Medical & Medical Services -- 0.4%
	6,000	Becton, Dickinson & Co.		310,800
Oil Company - Exploration & Production -- 1.1%
	16,500	Kerr-McGee Corp.		887,205
Paper & Allied Products -- 0.5%
	11,000	Georgia Pacific Corp.		406,780
Petroleum & Petroleum Products -- 5.8%
	16,000	ConocoPhillips		1,220,640
	57,000	Exxon Mobil Corp.		2,531,370
	30,000	Marathon Oil Corp.		1,135,200
				4,887,210
Real Estate Investment Trusts -- 14.3%
	8,500	Amli Residential Properties Trust		249,390
	11,000	Apartment Investment & Management Co.		342,430
	10,000	Archstone-Smith Trust		293,300
	15,000	Arden Realty, Inc.		441,150
	6,000	Avalonbay Communities, Inc.		339,120
	20,000	Bedford Property Investors, Inc.		584,800
	22,000	Brandywine Realty Trust		598,180
	10,000	Camden Property Trust		458,000
	10,000	Capital Automotive Real Estate Investment Trust, Inc.		293,300
	11,000	CarrAmerica Realty Corp.		332,530
	3,000	CBL & Associates Properties, Inc.		165,000
	11,000	Colonial Properties Trust		423,830
	15,000	Commercial NET Lease Realty		258,000
	40,000	Cornerstone Realty Income Trust, Inc.		350,800
	13,000	Duke Realty Corp.		413,530
	35,000	Equity Inns, Inc.		325,150
	35,000	Equity Office Properties Trust		952,000
	13,000	Equity Residential Properties Trust		386,490
	8,500	First Industrial Realty Trust, Inc.		313,480
	14,000	General Growth Properties		413,980
	16,000	Health Care Real Estate Investment Trust, Inc.		520,000
	13,000	Kimco Realty Corp.		591,500
	15,000	Kramont Realty Trust		240,000
	7,000	Liberty Property Trust		281,470
	5,000	Mack-Cali Realty Corp.		206,900
	16,500	New Plan Excel Realty Trust		385,440
	9,500	Public Storage, Inc.		437,095
	5,000	Reckson Associates Realty Corp.		137,300
	9,000	Regency Centers Corp.		386,100
	9,000	Simon Property Group, Inc.		462,780
	7,000	The Macerich Co.		335,090
	2,000	Vornado Realty Trust		114,220
				12,032,355
Restaurants -- 0.6%
	20,000	McDonald's Corp.		520,000
Retail -- 1.8%
	47,000	Limited Brands		878,900
	24,000	May Department Stores Co.		659,760
				1,538,660
Technology -- 0.1%
	2,000	Intel Corp.		55,200
Telephone & Telecommunications -- 2.0%
	19,000	BellSouth Corp.		498,180
	45,000	Sprint Corp.		792,000
	12,000	Verizon Communications, Inc.		434,280
				1,724,460
Total Common Stocks (Cost $42,556,657)				46,117,890
Preferred Stock -- 42.0%
Amusement Parks -- 1.2%
	40,000	The Walt Disney Co., 7.000%		1,004,000
Auto-Cars/Light Trucks -- 1.2%
	40,000	General Motors Corp., 7.375%		990,000
Bank Holding Companies -- 0.3%
	10,000	Suntrust Capital IV, 7.125%		251,600
Commercial Banks -- 5.7%
	63,900	ASBC Capital I, 7.625%		1,634,562
	40,000	Comerica Capital Trust I, 7.600%		1,036,000
	54,700	Compass Capital, 7.350%		1,375,705
	30,000	Fleet Capital Trust VII, 7.200%		760,500
				4,806,767
Department Stores -- 1.1%
	36,900	Sears Roebuck Acceptance, 7.000%		916,227
Electrical Services -- 7.6%
	55,000	Dominion CNG Capital Trust I, 7.800%		1,408,000
	42,000	Energy East Capital Trust I, 8.250%		1,096,200
	55,000	Entergy LA, Inc., 7.600%		1,408,550
	17,000	FPL Group, Inc., 8.500%		936,700
	60,000	Georgia Power Capital, 7.125%		1,542,000
				6,391,450
Financial Services -- 8.7%
	7,100	BancWest Capital I, 9.500%		191,700
	25,000	Everest Cap Trust 7.850%		644,250
	50,000	Hartford Life Capital II, Series B, 7.625%		1,285,500
	35,000	Household Capital Trust V, Series X, 10.000%		922,250
	100	Lehman Brothers Holdings, Inc., Series D, 5.670%		4,550
	21,000	Merrill Lynch Capital Trust V, 7.280% (b)		535,500
	50,000	Morgan Stanley Capital Trust II, 7.250%		1,270,000
	57,400	National Commerce Capital Trust II, 7.700%		1,475,180
	40,900	SLM Corp., 6.000%		901,027
				7,229,957
Fire, Marine & Casualty Insurance -- 2.9%
	55,000	Ace Ltd., Series C, 7.800%		1,452,000
	37,600	Partnerre Capital Trust I, 7.900%		971,960
				2,423,960
Gas & Natural Gas -- 0.9%
	15,000	Keyspan Corp., 8.750%		775,500
Insurance Carriers -- 0.3%
	10,000	Travelers Property Casualty Corp., 4.500%		238,000
Life/Health Insurance -- 5.7%
	52,600	Aetna, Inc., 8.500%		1,395,478
	50,000	Lincoln National Capital V, Series E, 7.650%		1,272,000
	65,000	PLC Capital Trust, 7.250%		1,637,350
	12,900	Torchmark Capital Trust II, 7.750%		341,850
	6,800	Torchmark Capital Trust I, 7.750%		177,820
				4,824,498
Property & Casualty Insurance -- 0.5%
	15,000	Chubb Corp., 7.000%		419,100
Real Estate Investment Trusts -- 3.8%
	20,000	HRPT Properties Trust, Series A, 9.875%		537,000
	49,600	Prologis Trust, Series F, 6.750%		1,148,240
	60,000	Public Storage, Series R, 8.000%		1,539,000
				3,224,240
Reinsurance -- 1.7%
	57,400	RenaissanceRe Holdings Ltd., Series B, 7.300%	$	1,446,480
Telephone Communication -- 0.4%
	7,500	Alltel Corp., 7.750%		376,200
Total Preferred Stock (Cost $35,950,303)				35,317,979
Mutual Funds -- 2.3%
Exchange Traded Funds -- 2.3%
	50,000	AMEX Technology SPDR		1,035,000
	8,000	SPDR Trust, Series 1		916,240
Total Mutual Funds (Cost $1,685,188)				1,951,240
Cash Equivalent -- 0.9%
	749,277	Huntington Money Market Fund, Interfund Class*		749,277
Total Cash Equivalent (Cost $749,277)				749,277
Total Investments (Cost $80,941,425) (a) -- 100.0%				84,136,386
Other Assets in Excess of Liabilities -- 0.0%				22,572
Net Assets -- 100.0%			$	84,158,958

(a) Represents cost for financial reporting purposes and differs from value by net unrealized appreciation (depreciation) of securities as follows:

Unrealized appreciation	$4,677,413
Unrealized depreciation	(1,482,452	)
Net unrealized appreciation (depreciation)	$3,194,961

Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington Growth Fund

June 30, 2004 (Unaudited)

Shares				Value
Common Stocks -- 97.1%
Apparel & Textiles -- 1.8%
	100,000	Cintas Corp.	$	4,767,000
Banks -- 1.5%
	60,000	Northern Trust Corp.		2,536,800
	27,000	State Street Corp.		1,324,080
				3,860,880
Broadcast Services & Programming -- 0.7%
	208,000	Liberty Media Corp., Class A (b)		1,869,920
Chemicals -- 2.7%
	53,000	Du Pont (E.I.) de Nemours & Co.		2,354,260
	150,000	Ecolab, Inc.		4,755,000
				7,109,260
Computer Services -- 2.6%
	152,087	Hewlett Packard Co.		3,209,036
	140,000	Sungard Data Systems, Inc. (b)		3,640,000
				6,849,036
Computers -- 9.0%
	69,000	Cisco Systems, Inc. (b)		1,635,300
	75,000	Computer Sciences Corp. (b)		3,482,250
	75,000	Dell, Inc. (b)		2,686,500
	54,000	International Business Machines Corp.		4,760,100
	250,000	Microsoft Corp.		7,140,000
	352,500	Oracle Corp. (b)		4,205,325
				23,909,475
Containers - Paper/Plastic -- 0.7%
	78,000	Pactiv Corp. (b)		1,945,320
Cosmetics/Toiletries -- 2.4%
	75,000	Colgate-Palmolive Co.		4,383,750
	38,000	Procter & Gamble Co.		2,068,720
				6,452,470
Drugs & Health Care -- 5.8%
	100,000	Abbott Laboratories		4,076,000
	16,000	Amgen, Inc. (b)		873,120
	26,000	Merck & Co., Inc.		1,235,000
	45,000	Mylan Laboratories, Inc.		911,250
	110,000	Pfizer, Inc.		3,770,800
	63,000	Schering-Plough Corp.		1,164,240
	65,000	Wyeth		2,350,400
	13,000	Zimmer Holdings, Inc. (b)		1,146,600
				15,527,410
Electronic Components -- 1.2%
	100,000	Molex, Inc.		3,208,000
Financial Services -- 6.1%
	130,000	American Express Co.		6,679,400
	120,000	Franklin Resources, Inc.		6,009,600
	72,000	T. Rowe Price Group, Inc.		3,628,800
				16,317,800
Food & Beverages -- 3.7%
	65,000	Anheuser Busch Companies, Inc.		3,510,000
	100,000	Wm. Wrigley Jr. Co.		6,305,000
				9,815,000
Industrial -- 3.2%
	265,500	General Electric Co.		8,602,200
Industrial Conglomerates -- 2.5%
	70,000	Illinois Tool Works, Inc.		6,712,300
Instruments - Scientific -- 1.1%
	50,000	Millipore Corp. (b)		2,818,500
Insurance -- 5.9%
	93,750	American International Group, Inc.		6,682,500
	75	Berkshire Hathaway, Inc., Class A (b)		6,671,250
	52,500	Cincinnati Financial Corp.		2,284,800
				15,638,550
Medical & Medical Services -- 10.5%
	90,000	Baxter International, Inc.		3,105,900
	25,000	Biomet, Inc.		1,111,000
	49,500	Cardinal Health, Inc.		3,467,475
	30,000	Henry Schein, Inc. (b)		1,894,200
	40,000	Hospira, Inc. (b)		1,104,000
	73,300	Invacare Corp.		3,277,976
	100,000	Johnson & Johnson		5,570,000
	30,000	Medco Health Solutions, Inc. (b)		1,125,000
	73,200	Medtronic, Inc.		3,566,304
	40,000	Stryker Corp.		2,200,000
	35,000	Wright Medical Group, Inc. (b)		1,246,000
				27,667,855
Metal Processors & Fabricators -- 0.2%
	25,000	Worthington Industries, Inc.		513,250
Miscellaneous Business Services -- 5.6%
	300,000	Automatic Data Processing, Inc.		12,564,000
	50,000	Iron Mountain, Inc. (b)		2,413,000
				14,977,000
Multimedia -- 0.5%
	10,400	Liberty Media International, Inc. (b)		385,840
	50,000	Time Warner, Inc. (b)		879,000
				1,264,840
Office Supplies -- 3.0%
	125,000	Avery Dennison Corp.		8,001,250
Petroleum & Petroleum Products -- 3.6%
	165,000	Anadarko Petroleum Corp.		9,669,000
Printing & Publishing -- 2.4%
	65,300	Media General, Inc., Class A		4,193,566
	60,000	Viacom, Inc., Class B		2,143,200
				6,336,766
Retail -- 8.7%
	240,000	Home Depot, Inc.		8,448,000
	132,000	Kohl's Corp. (b)		5,580,960
	248,600	Walgreen Co.		9,001,806
				23,030,766
Semi-Conductors/Instruments -- 2.1%
	100,000	Analog Devices, Inc.		4,708,000
	41,500	Texas Instruments, Inc.		1,003,470
				5,711,470
Technology -- 1.4%
	136,000	Intel Corp.		3,753,600
Telephone & Telecommunications -- 1.9%
	45,000	Qualcomm, Inc.		3,284,100
	82,500	Vodafone Group PLC ADR		1,823,250
				5,107,350
Transport - Marine -- 0.9%
	52,000	Carnival Corp.		2,444,000
Wholesale Distribution -- 5.4%
	398,600	SYSCO Corp.		14,297,782
Total Common Stocks (Cost $140,953,426)				258,178,050
Cash Equivalents -- 3.0%
	7,820,858	Huntington Money Market Fund, Interfund Class*		7,820,857
	242,532	Meeder Institutional Money Market Fund		242,532
Total Cash Equivalents (Cost $8,063,389)				8,063,389
Total Investments (Cost $149,016,815) (a) -- 100.1%				266,241,439
Liabilities in Excess of Other Assets -- (0.1)%				(206,125	)
Net Assets -- 100.0%			$	266,035,314

(a) Represents cost for financial reporting purposes and differs from value by net unrealized appreciation (depreciation) of securities as follows:

Unrealized appreciation	$122,695,163
Unrealized depreciation	(5,470,539	)
Net unrealized appreciation (depreciation)	$117,224,624

Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington Income Equity Fund

June 30, 2004 (Unaudited)

Shares				Value
Common Stocks -- 99.9%
Auto/Truck Parts & Equipment -- 4.4%
	145,000	Genuine Parts Co.	$	5,753,600
	68,500	Johnson Controls, Inc.		3,656,530
				9,410,130
Banks -- 24.0%
	178,200	AmSouth Bancorporation		4,538,754
	60,000	Bank of America Corp.		5,077,200
	100,000	Citigroup, Inc.		4,650,000
	67,300	Comerica, Inc.		3,693,424
	89,300	First Horizon National Corp.		4,060,471
	135,000	J.P. Morgan Chase & Co.		5,233,950
	216,500	MBNA Corp.		5,583,535
	200,000	National City Corp.		7,002,000
	59,000	Regions Financial Corp.		2,156,450
	85,000	Union Planters Corp.		2,533,850
	59,400	Wachovia Corp.		2,643,300
	94,000	Washington Mutual, Inc.		3,632,160
				50,805,094
Chemicals -- 5.0%
	194,000	Monsanto Co.		7,469,000
	49,000	PPG Industries, Inc.		3,062,010
				10,531,010
Computer Services -- 7.4%
	52,400	Diebold, Inc.		2,770,388
	54,000	Fiserv, Inc. (b)		2,100,060
	51,500	Hewlett Packard Co.		1,086,650
	89,000	Pitney Bowes, Inc.		3,938,250
	157,700	Symbol Technologies, Inc.		2,324,498
	101,100	Thompson Corp.		3,382,806
				15,602,652
Consumer Products -- 2.6%
	72,100	Fortune Brands, Inc.		5,438,503
Diversified Operations -- 1.8%
	65,000	Textron, Inc.		3,857,750
Drugs & Health Care -- 3.9%
	164,000	Bristol-Myers Squibb Co.		4,018,000
	115,000	Wyeth		4,158,400
				8,176,400
Electric Utility -- 3.9%
	96,000	Duke Energy Corp.		1,947,840
	65,000	Exelon Corp.		2,163,850
	200,000	Nisource, Inc.		4,124,000
				8,235,690
Food & Beverages -- 1.9%
	150,000	ConAgra Foods, Inc.		4,062,000
Gas & Natural Gas -- 2.3%
	115,000	Peoples Energy Corp.		4,847,250
Household Products -- 1.4%
	42,000	Clorox Co.		2,258,760
	51,500	RPM International, Inc.		782,800
				3,041,560
Industrial -- 3.8%
	140,000	General Electric Co.		4,536,000
	129,100	Standex International Corp.		3,511,520
				8,047,520
Insurance -- 12.9%
	136,700	ACE Ltd.		5,779,676
	97,500	Allstate Corp.		4,538,625
	108,000	Lincoln National Corp.		5,103,000
	34,400	MBIA, Inc.		1,964,928
	120,000	Unitrin, Inc.		5,112,000
	64,000	XL Capital Ltd.		4,829,440
				27,327,669
Oil Company - Exploration & Production -- 5.5%
	100,000	Kerr-Mcgee Corp.		5,377,000
	130,000	Occidental Petroleum Corp.		6,293,300
				11,670,300
Petroleum & Petroleum Products -- 6.2%
	77,400	ChevronTexaco Corp.		7,284,114
	30,000	ConocoPhillips		2,288,700
	70,000	Royal Dutch Petroleum Co. ADR		3,616,900
				13,189,714
Printing & Publishing -- 4.7%
	45,500	Gannett Co., Inc.		3,860,675
	188,000	R.R. Donnelley & Sons Co.		6,207,760
				10,068,435
Retail -- 2.1%
	165,000	May Department Stores Co.		4,535,850
Telephone & Telecommunications -- 3.6%
	120,000	Alltel Corp.		6,074,400
	113,000	Nokia Corp. ADR		1,643,020
				7,717,420
Textiles -- 2.5%
	108,000	V.F. Corp.		5,259,600
Total Common Stocks (Cost $159,099,323)				211,824,547
Cash Equivalent -- 0.1%
	216,966	Huntington Money Market Fund, Interfund Class*		216,966
Total Cash Equivalent (Cost $216,966)				216,966
Total Investments (Cost $159,316,289) (a) -- 100.0%				212,041,513
Liabilities in Excess of Other Assets -- 0.0%				(48,009	)
Net Assets -- 100.0%			$	211,993,504

(a) Represents cost for financial reporting purposes and differs from value by net unrealized appreciation (depreciation) of securities as follows:

Unrealized appreciation	$54,593,979
Unrealized depreciation	(1,868,755	)
Net unrealized appreciation (depreciation)	$52,725,224

Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington International Equity Fund

June 30, 2004 (Unaudited)

Shares				Value
Common Stocks -- 92.6%
Austria -- 1.9%
Banks -- 1.9%
	12,400	Ersete Bank der Oesterreichischen Sparkassen AG	$	1,952,064
Brazil -- 1.3%
Oil & Gas -- 1.3%
	48,000	Petroleo Brasileiro SA ADR		1,347,360
Canada -- 3.6%
Oil & Gas -- 2.3%
	40,585	Encana Corp.		1,753,136
	14,720	Encana Corp.		635,315
				2,388,451
Transportation & Shipping -- 1.3%
	74,000	CP Ships Ltd.		1,312,017
				3,700,468
France -- 9.0%
Building & Construction -- 0.9%
	19,188	Compagnie de Saint-Gobain		958,610
Food & Beverage -- 1.3%
	15,000	Groupe Danone		1,311,465
Insurance -- 0.8%
	39,900	Axa ADR		883,386
Oil & Gas -- 2.3%
	12,535	Total SA		2,395,187
Optical Supplies -- 2.2%
	35,500	Essilor International SA		2,322,439
Water Treatments -- 1.5%
	71,800	Suez SA ADR		1,512,826
				9,383,913
Germany -- 6.0%
Computer Software -- 1.7%
	10,600	SAP AG		1,770,813
Medical - Drugs -- 3.1%
	33,374	Schering AG		1,973,768
	29,150	Stada Arzneimittel AG		1,223,476
				3,197,244
Retail -- 1.2%
	44,000	Douglas Holdings AG		1,268,908
				6,236,965
Hong Kong -- 2.1%
Financial Services -- 0.9%
	320,000	The Bank Of East Asia Ltd.		914,966
Real Estate -- 1.2%
	57,000	Cheung Kong Holdings Ltd.		420,235
	200,000	Henderson Land Development		861,627
				1,281,862
				2,196,828
Ireland -- 3.9%
Banking/Insurance -- 1.3%
	85,000	Anglo Irish Bank Corp. PLC		1,331,890
Building Products -- 1.1%
	53,300	CRH PLC		1,130,896
Food & Beverage -- 1.5%
	75,300	Kerry Group PLC, Class A		1,597,682
				4,060,468
Japan -- 18.5%
Commercial Banks -- 3.2%
	175,000	Mitsubishi Tokyo Financial Group, Inc. ADR		1,639,750
	244,000	The 77th Bank Ltd.		1,668,223
				3,307,973
Computer Services/Software -- 1.0%
	19,000	Canon, Inc.		1,003,951
Construction Materials & Supplies -- 1.5%
	135,000	Hitachi Construction Machinery Co. Ltd.		1,602,830
Cosmetics & Toiletries -- 3.1%
	128,000	Shiseido Co. Ltd.		1,617,349
	31,600	Uni-Charm Corp.		1,579,710
				3,197,059
Diversified Products -- 0.9%
	117,000	Kuraray Co. Ltd.		960,127
Electronics -- 3.1%
	130,000	Matsushita Electric Industrial Co. Ltd.		1,850,488
	94,000	Sharp Corp.		1,505,624
				3,356,112
Food & Beverage -- 1.8%
	159,000	Ajinomoto Co., Inc.		1,919,923
Medical Supplies -- 1.8%
	73,100	Terumo Corp.		1,837,240
Optical Supplies -- 2.1%
	20,800	Hoya Corp.		2,182,834
Toys -- 0.0%
	50	Nintendo Co. Ltd.		5,812
				19,373,861
Mexico -- 1.5%
Construction Materials & Supplies -- 1.5%
	53,255	Cemex SA ADR		1,549,721
Netherlands -- 4.3%
Electronics -- 0.7%
	26,642	Philips Electronics NV		718,943
Insurance -- 1.8%
	79,084	ING Group NV		1,870,840
Transportation -- 1.8%
	83,000	TNT Post Group NV		1,900,727
				4,490,510
Singapore -- 0.9%
Telecommunications -- 0.9%
	724,000	Singapore Telecommunications Ltd.		948,361
South Korea -- 2.6%
Steel -- 1.2%
	38,000	POSCO ADR		1,273,380
Telephone Communications -- 1.4%
	66,000	SK Telecom Co. Ltd. ADR		1,385,340
				2,658,720
Spain -- 5.2%
Banks -- 1.1%
	81,700	Banco Bilbao Vizcaya SA ADR		1,102,950
Building-Heavy Construction -- 1.3%
	35,800	Fomento De Construcciones y Contratas SA		1,329,717
Electric Integrated -- 1.5%
	82,000	Endesa SA		1,583,854
Telephone Communications -- 1.3%
	93,300	Telefonica SA		1,382,306
				5,398,827
Sweden -- 3.5%
Banking & Finance -- 1.1%
	57,600	ForeningsSparbanken AB		1,104,095
Manufacturing - Consumer Goods -- 1.2%
	65,000	Electrolux AB, Series B		1,250,266
Tools -- 1.2%
	37,900	Sandvik AB		1,296,563
				3,650,924
Switzerland -- 6.8%
Banking/Insurance -- 1.1%
	16,046	UBS AG		1,133,392
Chemicals - Specialty -- 2.4%
	149,400	Syngenta AG ADR (b)		2,508,425
Machinery -- 1.8%
	6,400	Schindler Holding AG		1,841,524
Medical - Drugs -- 1.5%
	34,900	Novartis AG		1,543,321
				7,026,662
United Kingdom -- 19.8%
Aerospace -- 1.9%
	145,200	Smiths Group PLC		1,971,755
Banks -- 1.4%
	91,000	Standard Chartered PLC		1,486,532
Commercial Banks -- 1.3%
	163,000	Barclays PLC		1,392,871
Diversified Operations -- 1.2%
	256,700	Tompkins PLC		1,281,813
Electric Utility -- 1.4%
	116,000	Scottish & Southern Energy PLC		1,438,071
Food & Beverage -- 2.0%
	154,400	Cadbury Schweppes PLC		1,336,234
	20,800	Cadbury Schweppes PLC ADR		729,664
				2,065,898
Insurance -- 1.2%
	261,700	Tesco PLC		1,267,506
Medical - Drugs -- 1.6%
	40,900	GlaxoSmithkline PLC ADR		1,695,714
Metals -- 1.6%
	17,100	Rio Tinto PLC ADR		1,676,655
Oil & Gas -- 3.3%
	338,000	BG Group PLC		2,088,973
	156,000	BP Amoco PLC		1,382,007
				3,470,980
Retail -- 1.4%
	113,100	Boots Group PLC		1,415,493
Telephone Communications -- 1.5%
	710,000	Vodafone Group PLC		1,559,560
				20,722,848
United States -- 1.7%
Oil-Field Services -- 1.7%
	27,500	Schlumberger Ltd. ADR		1,746,525
Total Common Stocks (Cost $79,442,969)				96,445,025
Mutual Funds -- 3.1%
India -- 0.9%
Management Investment Operation -- 0.9%
	49,000	Morgan Stanley India Investment Fund		987,350
Japan -- 2.2%
Management Investment Operation -- 2.2%
	208,000	iShares MSCI Japan Index Fund		2,208,960
Total Mutual Funds (Cost $2,479,130)				3,196,310
Repurchase Agreement -- 3.1%
$	3,256,000	State Street Repurchase Agreement, 0.100%, dated 6/30/04, due 7/1/04 (Fully Collateralized by U.S. Treasury securities)		3,256,000
Total Repurchase Agreement (Cost $3,256,000)				3,256,000
Total Investments (Cost $85,178,099) (a) -- 98.8%				102,897,335
Other Assets in Excess of Liabilities -- 1.2%				1,199,270
Net Assets -- 100.0%			$	104,096,605

(a) Represents cost for financial reporting purposes and differs from value by net unrealized appreciation (depreciation) of securities as follows:

Unrealized appreciation	$18,098,602
Unrealized depreciation	(379,366	)
Net unrealized appreciation (depreciation)	$17,719,236

Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington Macro 100 Fund

June 30, 2004 (Unaudited)

Shares				Value
Common Stocks -- 98.9%
Aerospace & Defense -- 0.8%
	2,500	Raytheon Co.	$	89,425
Auto/Truck Parts & Equipment -- 0.4%
	1,300	Genuine Parts Co.		51,584
Banks -- 18.2%
	2,200	AmSouth Bancorporation		56,034
	4,300	Bank of America Corp.		363,866
	3,100	BB&T Corp.		114,607
	1,800	Countrywide Credit Industries, Inc.		126,450
	1,100	First Horizon National Corp.		50,017
	1,400	Regions Financial Corp.		51,170
	2,200	SouthTrust Corp.		85,382
	1,900	SunTrust Banks, Inc.		123,481
	10,400	U.S. Bancorp		286,624
	1,700	Union Planters Corp.		50,677
	6,300	Wachovia Corp.		280,350
	4,500	Washington Mutual, Inc.		173,880
	6,100	Wells Fargo & Co.		349,103
				2,111,641
Beer, Wine, & Distilled Beverages -- 0.8%
	700	Adolph Coors Co., Class B		50,638
	1,000	Brown-Forman Corp.		48,270
				98,908
Chemicals -- 0.7%
	1,300	PPG Industries, Inc.		81,237
Communications Equipment -- 2.6%
	2,900	Comverse Technology, Inc. (b)		57,826
	5,800	Nextel Communications, Inc., Class A (b)		154,628
	1,400	Scientific-Atlanta, Inc.		48,300
	5,400	Tellabs, Inc. (b)		47,196
				307,950
Computer Services -- 5.2%
	3,200	Ebay, Inc. (b)		294,240
	1,800	Jabil Circuit, Inc. (b)		45,324
	7,300	Yahoo, Inc. (b)		265,209
				604,773
Computers -- 14.3%
	15,900	Cisco Systems, Inc. (b)		376,830
	2,500	Citrix Systems, Inc. (b)		50,900
	4,000	Computer Associates International, Inc.		112,240
	1,400	Computer Sciences Corp. (b)		65,002
	10,200	Dell, Inc. (b)		365,364
	13,700	Microsoft Corp.		391,272
	25,300	Oracle Corp. (b)		301,829
				1,663,437
Computers, Peripherals & Software -- 3.2%
	1,800	Adobe Systems, Inc.		83,700
	4,000	Advanced Micro Devices, Inc. (b)		63,600
	3,200	BMC Software, Inc. (b)		59,200
	6,100	Novell, Inc. (b)		51,179
	12,600	Parametric Technology Corp. (b)		63,000
	3,800	Unisys Corp. (b)		52,744
				373,423
Diversified Operations -- 0.7%
	1,200	Ingersoll Rand Co.		81,972
Electrical Equipment -- 0.4%
	800	Cooper Industries Ltd., Class A		47,528
Electronic Components -- 3.6%
	3,000	Agilent Technologies, Inc. (b)		87,840
	12,200	Applied Micro Circuits Corp. (b)		64,904
	2,200	Broadcom Corp., Class A (b)		102,894
	4,700	Sanmina Corp. (b)		42,770
	9,500	Solectron Corp. (b)		61,465
	2,000	Thomas & Betts Corp.		54,460
				414,333
Financial Services -- 10.2%
	6,100	American Express Co.		313,418
	1,600	Capital One Financial Corp.		109,408
	5,100	E*Trade Group, Inc. (b)		56,865
	2,000	Franklin Resources, Inc.		100,160
	1,000	Golden West Financial Corp.		106,350
	3,800	Janus Capital Group, Inc.		62,662
	1,900	Marshall & Ilsley Corp.		74,271
	4,800	Providian Financial Corp. (b)		70,416
	2,700	SLM Corp.		109,215
	900	T. Rowe Price Group, Inc.		45,360
	9,100	The Charles Schwab Corp.		87,451
	800	Zions Bancorporation		49,160
				1,184,736
Food & Beverages -- 4.1%
	3,000	Coca-Cola Enterprises, Inc.		86,970
	700	R.J. Reynolds Tobacco Holdings, Inc.		47,313
	6,900	The Coca-Cola Co.		348,312
				482,595
Hotels -- 0.4%
	2,700	Hilton Hotels Corp.		50,382
Life Insurance -- 0.7%
	2,300	Principal Financial Group		79,994
Machinery -- 0.5%
	1,400	Rockwell International Corp.		52,514
Metals & Mining -- 0.9%
	1,600	Freeport-McMoran Copper & Gold, Inc., Class B		53,040
	700	Phelps Dodge Corp.		54,257
				107,297
Miscellaneous Business Services -- 2.2%
	1,400	Autodesk, Inc.		59,934
	1,300	Ryder System, Inc.		52,091
	2,200	Symantec Corp. (b)		96,316
	1,100	Waters Corp. (b)		52,558
				260,899
Real Estate Investment Trusts -- 1.1%
	1,600	Prologis Trust		52,672
	1,500	Simon Property Group, Inc.		77,130
				129,802
Retail -- 6.4%
	4,100	Circuit City Stores, Inc.		53,095
	4,800	Gap, Inc.		116,400
	10,200	Home Depot, Inc.		359,040
	4,100	Lowe's Cos., Inc.		215,455
				743,990
Semi-Conductors/Instruments -- 5.3%
	2,400	Analog Devices, Inc.		112,992
	7,900	LSI Logic Corp. (b)		60,198
	2,900	National Semiconductor Corp. (b)		63,771
	2,300	NVIDIA Corp. (b)		47,150
	4,400	PMC-Sierra, Inc. (b)		63,140
	2,100	QLogic Corp. (b)		55,839
	8,800	Texas Instruments, Inc.		212,784
				615,874
Technology -- 8.7%
	23,300	ADC Telecommunications, Inc. (b)		66,172
	2,900	Altera Corp. (b)		64,438
	7,900	Compuware Corp. (b)		52,140
	13,100	Intel Corp.		361,560
	1,700	Intuit, Inc. (b)		65,586
	800	Lexmark International Group, Inc. (b)		77,224
	2,100	Linear Technology Corporation		82,887
	2,200	Maxim Integrated Products, Inc.		115,324
	1,100	Mercury Interactive Corporation (b)		54,813
	2,300	Xilinx, Inc.		76,613
				1,016,757
Telephone & Telecommunications -- 5.8%
	11,400	Ciena Corp. (b)		42,408
	15,200	JDS Uniphase Corp. (b)		57,608
	23,400	Lucent Technologies, Inc. (b)		88,452
	11,300	Motorola, Inc.		206,225
	3,900	Qualcomm, Inc.		284,622
				679,315
Textiles -- 0.4%
	1,000	V.F. Corp.		48,700
Transport - Marine -- 1.3%
	3,300	Carnival Corp.		155,100
Total Common Stocks (Cost $10,960,851)				11,534,166
Cash Equivalent -- 2.4%
	282,190	Huntington Money Market Fund, Interfund Class*		282,190
Total Cash Equivalent (Cost $282,190)				282,190
Total Investments (Cost $11,243,041) (a) -- 101.3%				11,816,356
Liabilities in Excess of Other Assets -- (1.3)%				(150,941	)
Net Assets -- 100.0%			$	11,665,415

(a) Represents cost for financial reporting purposes and differs from value by net unrealized appreciation (depreciation) of securities as follows:

Unrealized appreciation	$665,176
Unrealized depreciation	(91,861	)
Net unrealized appreciation (depreciation)	$573,315

Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington Mid Corp America Fund

June 30, 2004 (Unaudited)

Shares				Value
Common Stocks -- 91.7%
Aerospace & Defense -- 0.4%
	9,600	Alliant Techsystems, Inc. (b)	$	608,064
Amusement & Recreation Services -- 0.2%
	12,000	Boyd Gaming Corp.		318,840
Apparel & Textiles -- 1.4%
	3,000	G & K Services, Inc., Class A		120,570
	10,600	Jones Apparel Group, Inc.		418,488
	22,500	Liz Claiborne, Inc.		809,550
	14,000	Reebok International Ltd.		503,720
	10,000	UniFirst Corp.		290,900
				2,143,228
Auto/Truck Parts & Equipment -- 1.4%
	5,600	Cummins Engine, Inc.		350,000
	22,000	Johnson Controls, Inc.		1,174,360
	3,000	Oshkosh Truck Corp.		171,930
	10,900	Superior Industries International, Inc. (c)		364,605
				2,060,895
Banks -- 6.5%
	14,600	Amcore Financial, Inc.		440,336
	21,200	BancorpSouth, Inc.		477,636
	30,100	Banknorth Group, Inc.		977,648
	18,818	BOK Financial Corp. (b)		738,983
	20,700	Chittenden Corp.		727,605
	30,200	Compass Bancshares, Inc.		1,298,600
	34,200	First Horizon National Corp.		1,555,074
	5,617	Fulton Financial Corp.		113,183
	13,300	M & T Bank Corp.		1,161,090
	30,000	National Commerce Financial Corp.		975,000
	5,333	New York Community Bancorp, Inc.		104,687
	16,400	TCF Financial Corp.		952,020
				9,521,862
Beer, Wine, & Distilled Beverages -- 0.7%
	14,100	Adolph Coors Co., Class B		1,019,994
Biotechnology -- 1.7%
	13,000	Cephalon, Inc. (b)		702,000
	26,000	Invitrogen Corp. (b)		1,871,740
				2,573,740
Building & Construction -- 2.9%
	7,000	Beazer Homes USA, Inc.		702,170
	16,400	Centex Corp.		750,300
	11,000	D. R. Horton, Inc.		312,400
	363	Eagle Materials, Inc.		25,780
	3,000	Hovnanian Enterprises , Class A (b)		104,130
	31,100	Insituform Technologies, Inc., Class A (b)		505,997
	5,300	Lafarge North America Corp.		229,490
	33,000	Pulte Homes, Inc.		1,716,990
				4,347,257
Business Services -- 0.5%
	26,400	Viad Corp.		713,064
Chemicals -- 1.6%
	20,700	Albemarle Corp.		655,155
	17,700	Cytec Industries, Inc.		804,465
	18,800	Lubrizol Corp.		688,456
	3,000	Minerals Technologies, Inc.		174,000
				2,322,076
Circuits -- 0.1%
	10,500	Integrated Device Technology, Inc. (b)		145,320
Communications Equipment -- 3.2%
	16,900	Advanced Fibre Communications, Inc. (b)		341,380
	12,500	Harris Corp.		634,375
	39,000	L-3 Communications Corp.		2,605,200
	32,500	Scientific-Atlanta, Inc.		1,121,250
				4,702,205
Computer Services -- 2.2%
	40,500	Activision, Inc. (b)		643,950
	14,300	Affiliated Computer Services, Inc. (b)		757,042
	16,000	Intergraph Corp. (b)		413,760
	29,000	JDA Software Group, Inc. (b)		381,930
	5,000	Pinnacle Systems, Inc. (b)		35,750
	11,968	SafeNet, Inc. (b)		331,274
	29,100	Sungard Data Systems, Inc. (b)		756,600
				3,320,306
Computers -- 1.1%
	31,200	Advanced Digital Information Corp. (b)		302,640
	12,900	NCR Corp. (b)		639,711
	17,200	Progress Software Corp. (b)		372,724
	11,000	Storage Technology Corp. (b)		319,000
				1,634,075
Computers, Peripherals & Software -- 1.0%
	6,000	Cognos, Inc. (b)		216,960
	35,100	NetIQ Corp. (b)		463,320
	20,000	Novell, Inc. (b)		167,800
	32,000	Sybase, Inc. (b)		576,000
				1,424,080
Consulting Services -- 0.5%
	40,000	Forrester Research, Inc. (b)		746,000
Consumer Products -- 0.2%
	4,000	Harman International Industries, Inc.		364,000
Containers - Paper/Plastic -- 0.3%
	18,300	Pactiv Corp. (b)		456,402
Diversified Operations -- 2.1%
	3,000	Ball Corp.		216,150
	40,700	Griffon Corp. (b)		906,796
	3,000	ITT Industries, Inc.		249,000
	21,500	Teleflex, Inc.		1,078,225
	10,000	Textron, Inc.		593,500
				3,043,671
Drugs & Health Care -- 1.5%
	23,100	Barr Laboratories, Inc. (b)		778,470
	73,725	Mylan Laboratories, Inc.		1,492,931
				2,271,401
Electric Services -- 0.2%
	8,000	Constellation Energy Group		303,200
Electrical Components -- 1.0%
	11,500	Elbit Systems Ltd.		230,000
	9,800	Intersil Corp., Class A		212,268
	19,000	Rayovac Corp. (b)		533,900
	30,000	Vishay Intertechnology, Inc. (b)		557,400
				1,533,568
Electrical Equipment -- 0.9%
	23,600	Cooper Industries Ltd., Class A		1,402,076
Electrical Services -- 1.6%
	27,800	Allete, Inc.		925,740
	14,900	DP&L, Inc.		289,358
	34,800	Energy East Corp.		843,900
	25,800	Teco Energy, Inc.		309,342
				2,368,340
Electronic Components -- 0.3%
	1,950	Benchmark Electronics, Inc. (b)		56,745
	6,000	Molex, Inc.		192,480
	8,000	Thomas & Betts Corp.		217,840
				467,065
Electronic Instruments -- 0.1%
	10,600	PerkinElmer, Inc.		212,424
Environmental Services -- 0.6%
	17,000	Stericycle, Inc. (b)		879,580
Financial Services -- 5.9%
	28,500	Allied Capital Corp. (c)		695,970
	17,900	Ambac Financial Group, Inc.		1,314,576
	26,200	AmeriCredit Corp. (b)		511,686
	12,400	Bear Stearns Companies, Inc.		1,045,444
	26,900	City National Corp.		1,767,330
	24,200	First American Financial Corp.		626,538
	17,000	Firstmerit Corp.		448,290
	15,500	Legg Mason, Inc.		1,410,655
	21,000	Wilmington Trust Corp.		781,620
				8,602,109
Food & Beverages -- 2.1%
	10,000	Constellation Brands, Inc. (b)		371,300
	15,300	McCormick & Co., Inc.		520,200
	20,700	Ralcorp Holding, Inc. (b)		728,640
	18,900	Smithfield Foods, Inc. (b)		555,660
	16,400	SUPERVALU, Inc.		502,004
	23,600	Tyson Foods, Inc., Class A		494,420
				3,172,224
Gas & Natural Gas -- 3.6%
	12,000	AGL Resources, Inc.		348,600
	15,500	Atmos Energy Corp.		396,645
	9,000	Keyspan Corp.		330,300
	36,900	MDU Resources Group, Inc.		886,707
	27,900	National Fuel Gas Co.		697,500
	9,500	New Jersey Resources Corp.		395,010
	11,500	Peoples Energy Corp.		484,725
	45,500	Questar Corp.		1,758,120
				5,297,607
Healthcare Equipment & Supplies -- 0.8%
	12,600	Hillenbrand Industries, Inc.		761,670
	21,155	Viasys Healthcare, Inc. (b)		442,351
				1,204,021
Hotels -- 0.2%
	4,000	Hilton Hotels Corp.		74,640
	6,000	Starwood Hotels & Resorts Worldwide, Inc.		269,100
				343,740
Household Products -- 1.4%
	20,800	Church & Dwight Co., Inc.		952,224
	10,600	Ferro Corp.		282,808
	11,000	RPM International, Inc.		167,200
	10,600	Whirlpool Corp.		727,160
				2,129,392
Insurance -- 5.0%
	19,200	Allmerica Financial Corp. (b)		648,960
	25,300	Fidelity National Financial, Inc.		944,702
	22,100	Nationwide Financial Services, Inc.		831,181
	49,800	Old Republic International Corp.		1,181,256
	26,000	PMI Group, Inc. (c)		1,131,520
	30,900	Protective Life Corp.		1,194,903
	26,700	Torchmark Corp.		1,436,460
				7,368,982
Lasers - Systems/Components -- 0.3%
	13,100	Coherent, Inc. (b)		391,035
Leisure -- 1.8%
	16,900	Brunswick Corp.		689,520
	31,600	Callaway Golf Co.		358,344
	37,200	Royal Caribbean Cruises Ltd.		1,614,852
				2,662,716
Machinery -- 2.2%
	12,200	AptarGroup, Inc.		533,018
	27,000	Kennametal, Inc.		1,236,600
	15,600	Parker Hannifin Corp.		927,576
	3,000	Rockwell International Corp.		112,530
	11,800	Tecumseh Products Co., Class A		486,042
				3,295,766
Measuring Devices -- 1.8%
	6,800	FLIR Systems, Inc. (b)		373,320
	22,500	Tektronix, Inc.		765,450
	35,300	Thermo Electron Corp. (b)		1,085,122
	17,100	Trimble Navigation Ltd. (b)		475,209
				2,699,101
Medical & Medical Services -- 6.0%
	33,800	Apogent Technologies, Inc. (b)		1,081,600
	23,850	Coventry Health Care, Inc. (b)		1,166,265
	4,000	Dentsply International, Inc.		208,400
	9,000	Health Management Associates, Inc.		201,780
	29,800	Lincare Holdings, Inc. (b)		979,228
	22,200	Owens & Minor, Inc.		574,980
	20,500	Oxford Health Plans, Inc.		1,128,320
	18,000	Pediatrix Medical Group, Inc. (b)		1,257,300
	22,500	Renal Care Group, Inc. (b)		745,425
	25,000	Respironics, Inc. (b)		1,468,750
				8,812,048
Metal Processors & Fabrication -- 0.6%
	16,400	Precision Castparts Corp.		896,916
Miscellaneous Business Services -- 3.1%
	29,600	Cadence Design Systems, Inc. (b)		433,048
	7,740	Caremark Rx, Inc. (b)		254,956
	4,600	Electronic Arts, Inc. (b)		250,930
	26,700	NCO Group, Inc. (b)		712,623
	16,000	Ryder System, Inc.		641,120
	44,800	Symantec Corp. (b)		1,961,344
	23,000	US Oncology, Inc. (b)		338,560
				4,592,581
Office Supplies -- 0.1%
	3,000	Avery Dennison Corp.		192,030
Oil & Gas - Exploration & Production -- 1.6%
	19,822	Devon Energy Corp.		1,308,252
	15,600	Suncor Energy, Inc. ADR		399,516
	10,200	Unocal Corp.		387,600
	5,800	Weatherford International, Inc. (b)		260,884
				2,356,252
Paper & Paper Products -- 0.3%
	23,500	Rock-Tenn Co.		398,325
Paperboard Containers & Boxes -- 0.1%
	6,200	Bemis Co.		175,150
Personal Products -- 0.6%
	27,800	NBTY, Inc. (b)		817,042
Petroleum & Petroleum Products -- 5.0%
	27,710	Apache Corp.		1,206,771
	62,700	Chesapeake Energy Corp.		922,944
	11,300	Forest Oil Corp. (b)		308,716
	14,600	Helmerich & Payne, Inc.		381,352
	9,600	Murphy Oil Corp.		707,520
	68,186	Patina Oil & Gas Corp.		2,036,715
	28,700	Tidewater, Inc.		855,260
	15,000	Unit Corp. (b)		471,750
	27,300	Vintage Petroleum, Inc.		463,281
				7,354,309
Pharmaceuticals -- 0.9%
	10,000	Biovail Corp. (b)		189,800
	23,500	Omnicare, Inc.		1,006,035
	6,000	Watson Pharmaceutical, Inc. (b)		161,400
				1,357,235
Pollution Control -- 0.7%
	36,800	Pall Corp.		963,792
Printing & Publishing -- 1.5%
	23,636	Banta Corp.		1,049,675
	51,400	Paxar Corp. (b)		1,003,328
	7,000	R.R. Donnelley & Sons Co.		231,140
				2,284,143
Real Estate Investment Trusts -- 1.0%
	27,100	LNR Property Corp.		1,470,175
Restaurants -- 0.4%
	22,000	Ruby Tuesday, Inc.		603,900
Retail -- 4.3%
	19,400	Abercrombie & Fitch Co., Class A		751,750
	30,900	AnnTaylor Stores Corp. (b)		895,482
	43,088	Applebee's International, Inc.		991,874
	17,000	Furniture Brands International, Inc.		425,850
	8,900	Nieman Marcus Group, Inc.		495,285
	20,000	Nordstrom, Inc.		852,200
	3,000	Pacific Sunwear of California, Inc. (b)		58,710
	8,000	PETsMART, Inc.		259,600
	27,500	Sonic Automotives, Inc.		609,125
	6,000	Tiffany & Co.		221,100
	31,800	Zales Corp. (b)		866,868
				6,427,844
Schools -- 0.2%
	5,000	Career Education Corp. (b)		227,800
Semiconductor Equipment -- 1.8%
	9,200	DuPont Photomasks, Inc. (b)		187,036
	15,000	ESS Technology, Inc. (b)		160,650
	24,400	Imation Corp.		1,039,684
	23,200	International Rectifier Corp. (b)		960,944
	9,400	Varian Semiconductor Equipment Associates, Inc. (b)		362,464
				2,710,778
Telephone & Telecommunications -- 0.7%
	12,000	CenturyTel, Inc.		360,480
	33,000	Ciena Corp. (b)		122,760
	3,700	Commonwealth Telephone Enterprises, Inc. (b)		165,649
	11,100	US Cellular Corp. (b)		427,905
				1,076,794

Shares or Principal Amount				Value
Tires & Tubes -- 0.2%
	13,900	Cooper Tire & Rubber Co.	$	319,700
Tools & Accessories -- 0.8%
	20,700	Snap-On, Inc.		694,485
	9,700	The Stanley Works		442,126
				1,136,611
Wholesale Distribution -- 1.5%
	25,000	AmerisourceBergen Corp.		1,494,500
	16,200	BorgWarner, Inc.		709,074
				2,203,574
Woven Carpets & Rugs -- 1.0%
	19,500	Mohawk Industries, Inc. (b)		1,429,935
Total Common Stocks (Cost $105,670,726)				135,876,360
Mutual Funds -- 7.2%
Exchange Traded Funds -- 7.2%
	45,000	iShares S&P Midcap 400		5,472,000
	46,500	Midcap SPDR Trust Series I (c)		5,173,125
Total Mutual Funds (Cost $8,496,867)				10,645,125
Cash Equivalent -- 1.1%
	1,683,775	Huntington Money Market Fund, Interfund Class*		1,683,775
Total Cash Equivalent (Cost $1,683,775)				1,683,775
Short-Term Securities Held as Collateral for Securities Lending -- 4.6%
$	6,822,700	Pool of various securities for Huntington Funds--footnote 2 (Securities Lending)		6,822,700
Total Short-Term Securities Held as Collateral for Securities Lending (Cost $6,822,700)				6,822,700
Total Investments (Cost $122,674,068) (a) -- 104.6%				155,027,960
Liabilities in Excess of Other Assets -- (4.6)%				(6,840,000	)
Net Assets -- 100.0%			$	148,187,960

(a) Represents cost for financial reporting purposes and differs from value by net unrealized appreciation (depreciation) of securities as follows:

Unrealized appreciation	$35,515,337
Unrealized depreciation	(3,161,445	)
Net unrealized appreciation (depreciation)	$32,353,892

Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington New Economy Fund

June 30, 2004 (Unaudited)

Shares				Value
Common Stocks -- 97.6%
Aerospace & Defense -- 0.3%
	4,400	Armor Holdings, Inc. (b)	$	149,600
Apparel & Textiles -- 2.0%
	5,400	Bebe Stores, Inc. (b)		108,000
	6,800	Coach, Inc. (b)		307,292
	6,300	Fossil, Inc. (b)		171,675
	7,500	K-Swiss, Inc., Class A		151,575
	10,800	The Children's Place, Inc. (b)		254,016
				992,558
Auto Dealers -- 0.2%
	6,200	Asbury Automotive Group (b)		93,000
Auto/Truck Parts & Equipment -- 1.8%
	4,500	Autoliv, Inc.		189,900
	2,800	Brilliance China Automotive Holdings Ltd. ADR		82,460
	2,900	Cummins Engine, Inc.		181,250
	1,900	Lear Corp.		112,081
	1,485	Magna International, Inc.		126,477
	3,300	PACCAR, Inc.		191,367
				883,535
Banks -- 5.7%
	6,550	Countrywide Credit Industries, Inc.		460,137
	8,100	Dime Community Bancshares		141,588
	4,100	First Republic Bancorp, Inc.		176,628
	6,200	Flagstar Bancorp, Inc.		123,256
	3,800	Independence Community Bank Corp.		138,320
	5,200	Irwin Financial Corp.		137,280
	4,500	MB Financial, Inc.		165,645
	3,200	New Century Financial Corp.		149,824
	8,666	New York Community Bancorp, Inc.		170,114
	8,400	R & G Financial Corp., Class B		277,704
	7,200	Sovereign Bancorp		159,120
	6,100	UCBH Holdings, Inc.		241,072
	3,350	Washington Mutual, Inc.		129,444
	3,400	Webster Financial Corp.		159,868
	3,500	WFS Financial, Inc. (b)		173,285
				2,803,285
Batteries/ Battery Systems -- 0.4%
	3,800	Energizer Holdings, Inc. (b)		171,000
Biotechnology -- 0.6%
	4,400	Invitrogen Corp. (b)		316,756
Building & Construction -- 5.4%
	5,500	Centex Corp.		251,625
	9,550	D. R. Horton, Inc.		271,220
	7,800	Dycom Industries, Inc. (b)		218,400
	57	Eagle Materials, Inc.		4,048
	193	Eagle Materials, Inc., Class B		13,365
	1,700	KB Home		116,671
	3,200	Lennar Corp.		143,104
	2,700	M/I Schottenstein Homes, Inc.		109,620
	6,900	Masco Corp.		215,142
	1,947	MDC Holdings, Inc.		123,849
	1	MI Developments, Inc., Class A		14
	230	NVR, Inc. (b)		111,366
	2,100	Pulte Homes, Inc.		109,263
	1,400	Ryland Group, Inc.		109,480
	4,100	Simpson Manufacturing Co., Inc.		230,092
	3,300	Standard-Pacific Corp.		162,690
	5,600	Terex Corp. (b)		191,128
	7,700	Washington Group International, Inc. (b)		276,353
				2,657,430
Chemicals -- 2.0%
	2,200	Eastman Chemical Co.		101,706
	3,100	Georgia Gulf Corp.		111,166
	3,000	Monsanto Co.		115,500
	12,200	OM Group, Inc. (b)		402,722
	5,900	TETRA Technologies, Inc. (b)		158,415
	2,600	The Dow Chemical Co.		105,820
				995,329
Commercial Services & Supplies -- 1.3%
	18,600	Cendant Corp.		455,328
	4,700	StarTek, Inc.		168,260
				623,588
Communications Equipment -- 1.2%
	4,000	L-3 Communications Corp.		267,200
	11,800	Nextel Communications, Inc., Class A (b)		314,588
				581,788
Computer Services -- 4.6%
	15,600	Activision, Inc. (b)		248,040
	28,600	Earthlink, Inc. (b)		296,010
	9,100	Filenet Corp. (b)		287,287
	6,400	Infospace, Inc. (b)		243,456
	6,500	Intergraph Corp. (b)		168,090
	5,600	Jabil Circuit, Inc. (b)		141,008
	5,400	Sungard Data Systems, Inc. (b)		140,400
	5,800	Synopsys, Inc. (b)		164,894
	4,500	Veritas Software Corp. (b)		124,650
	12,176	Yahoo, Inc. (b)		442,354
				2,256,189
Computers -- 4.1%
	4,100	Ansys, Inc. (b)		192,700
	15,100	Apple Computer, Inc. (b)		491,354
	6,200	Cerner Corp. (b)		276,396
	9,100	Cisco Systems, Inc. (b)		215,670
	10,800	EMC Corp. (b)		123,120
	5,100	NCR Corp. (b)		252,909
	6,700	Progress Software Corp. (b)		145,189
	4,200	Sandisk Corp. (b)		91,098
	10,300	Transaction Systems Architects, Inc., Class A (b)		221,759
				2,010,195
Consumer Products -- 0.7%
	4,900	Finish Line, Class A (b)		147,833
	2,000	Harman International Industries, Inc.		182,000
				329,833
Diversified Operations -- 1.1%
	1,500	Ball Corp.		108,075
	17,800	Casella Waste Systems, Inc., Class A (b)		234,070
	5,400	The Brink's Co.		184,950
				527,095
Electronic Components -- 1.6%
	9,750	Benchmark Electronics, Inc. (b)		283,725
	10,400	Flextronics International Ltd. (b)		165,880
	26,800	Sanmina Corp. (b)		243,880
	42,800	Viscount Systems, Inc. (b)		91,164
				784,649
Environmental Services -- 0.4%
	3,900	Stericycle, Inc. (b)		201,786
Financial Services -- 1.5%
	7,275	Doral Financial Corp.		250,988
	5,100	First American Financial Corp.		132,039
	1,500	Golden West Financial Corp.		159,525
	4,000	H & R Block, Inc.		190,720
				733,272
Food & Beverages -- 4.8%
	11,700	Archer-Daniels-Midland Co.		196,326
	7,500	Chiquita Brands International, Inc. (b)		156,900
	7,100	Coca-Cola Enterprises, Inc.		205,829
	4,600	Constellation Brands, Inc. (b)		170,798
	5,900	Flowers Foods, Inc.		154,285
	6,300	Hormel Foods Corp.		195,930
	7,300	Pilgrim's Pride Corp.		211,262
	5,000	Ralcorp Holding, Inc. (b)		176,000
	6,150	Sanderson Farms, Inc.		329,763
	6,900	Smithfield Foods, Inc. (b)		202,860
	9,800	Tyson Foods, Inc., Class A		205,310
	3,500	YUM! Brands, Inc. (b)		130,270
				2,335,533
Hotels -- 0.8%
	8,300	Caesars Entertainment, Inc. (b)		124,500
	2,500	MGM Grand, Inc. (b)		117,350
	3,100	Starwood Hotels & Resorts Worldwide, Inc.		139,035
				380,885
Household Furnishings -- 0.5%
	4,200	American Woodmark Corp.		251,370
Insurance -- 1.7%
	5,142	Fidelity National Financial, Inc.		192,002
	1,700	Progressive Corp.		145,010
	7,826	UnitedHealth Group, Inc.		487,169
				824,181
Internet Services -- 0.4%
	10,600	Verisign, Inc. (b)		210,940
Leisure -- 0.6%
	2,800	Brunswick Corp.		114,240
	3,700	Royal Caribbean Cruises Ltd.		160,617
				274,857
Machinery -- 1.0%
	5,400	Albany International Corp., Class A		181,224
	8,200	Sauer-Danfoss, Inc.		139,974
	2,900	Smith International, Inc. (b)		161,704
				482,902
Measuring Devices -- 0.8%
	7,000	FLIR Systems, Inc. (b)		384,300
Medical & Medical Services -- 15.2%
	3,300	Aetna US Healthcare, Inc.		280,500
	8,400	Apria Healthcare Group, Inc. (b)		241,080
	4,300	Bausch & Lomb, Inc.		279,801
	6,100	Becton, Dickinson & Co.		315,980
	4,300	Bio-Rad Laboratories, Inc., Class A (b)		253,098
	5,500	Cooper Companies, Inc.		347,435
	7,400	Coventry Health Care, Inc. (b)		361,860
	11,700	DaVita, Inc. (b)		360,711
	4,900	Dentsply International, Inc.		255,290
	4,500	Genesis Healthcare Corp. (b)		130,680
	4,100	Henry Schein, Inc. (b)		258,874
	26,600	Hologic, Inc. (b)		618,450
	5,200	Medtronic, Inc.		253,344
	9,000	Neighborcare, Inc. (b)		281,970
	11,800	Ocular Sciences, Inc. (b)		448,400
	26,400	Option Care, Inc.		402,864
	4,400	Patterson Dental Co. (b)		336,556
	5,500	Pediatrix Medical Group, Inc. (b)		384,175
	3,100	Quest Diagnostics, Inc.		263,345
	10,200	Renal Care Group, Inc. (b)		337,926
	7,800	St. Jude Medical, Inc. (b)		590,070
	4,700	Varian Medical Systems, Inc. (b)		372,945
				7,375,354
Medical - HMO -- 3.4%
	3,000	Anthem, Inc. (b)		268,680
	14,300	Humana, Inc. (b)		241,670
	9,700	PacifiCare Health Systems, Inc. (b)		375,002
	11,500	Sierra Health Services, Inc. (b)		514,050
	2,400	WellPoint Health Networks, Inc. (b)		268,824
				1,668,226
Metals & Mining -- 2.0%
	4,944	Barrick Gold Corp.		97,644
	2,500	Freeport-McMoran Copper & Gold, Inc., Class B		82,875
	4,800	Newmont Mining Corp.		186,048
	1,500	Nucor Corp.		115,140
	1,500	Phelps Dodge Corp.		116,265
	4,500	Reliance Steel & Aluminum Co.		181,440
	7,200	Timken Co.		190,728
				970,140
Miscellaneous Business Services -- 7.0%
	12,600	Accenture Ltd. (b)		346,248
	10,100	Acxiom Corp.		250,783
	16,600	Autodesk, Inc. (c)		710,646
	1,900	Black & Decker Corp.		118,047
	17,200	Caremark Rx, Inc. (b)		566,568
	3,000	Electronic Arts, Inc. (b)		163,650
	2,500	GTECH Holdings Corp.		115,775
	3,100	Inco Ltd. (b)		107,136
	8,500	Jack Henry & Associates, Inc.		170,850
	3,400	News Corp. Ltd. ADR		120,428
	15,900	Polycom, Inc. (b)		356,319
	3,900	Steel Dynamics, Inc. (b)		111,657
	5,700	Symantec Corp. (b)		249,546
				3,387,653
Office Equipment & Supplies -- 0.3%
	2,700	Avid Technology, Inc. (b)		147,339
Oil Company - Exploration & Production -- 1.8%
	2,982	Kerr-Mcgee Corp.		160,342
	3,200	Occidental Petroleum Corp.		154,912
	4,100	Pogo Producing Co.		202,540
	5,500	Transocean Sedco Forex, Inc. (b)		159,170
	7,166	Xto Energy, Inc.		213,475
				890,439
Paper & Allied Products -- 0.7%
	3,200	Boise Cascade Corp.		120,448
	2,900	Georgia Pacific Corp.		107,242
	1,600	Temple-Inland, Inc.		110,800
				338,490
Personal Products -- 0.9%
	15,500	NBTY, Inc. (b)		455,545
Petroleum & Petroleum Products -- 1.6%
	2,000	ConocoPhillips		152,580
	2,100	Murphy Oil Corp.		154,770
	9,400	Patina Oil & Gas Corp.		280,778
	2,300	Valero Energy Corp.		169,648
				757,776
Pharmaceutical Preparations -- 1.2%
	7,800	Medicis Pharmaceutical Corp., Class A		311,610
	13,600	Parexel International Corp. (b)		269,280
				580,890
Pharmaceuticals -- 0.5%
	6,200	Omnicare, Inc.		265,422
Process Control Instruments -- 0.4%
	8,300	Flowserve Corp. (b)		207,002
Professional Services -- 1.9%
	5,200	Apollo Group, Inc., Class A (b)		459,108
	4,300	Strayer Education, Inc.		479,751
				938,859
Railroad Transportation -- 0.3%
	8,500	CP Ships Ltd.		151,470
Real Estate Investment Trusts -- 1.2%
	8,500	Annaly Mortgage Management, Inc.		144,160
	3,900	Chelsea Property Group		254,358
	7,700	Ventas, Inc.		179,795
				578,313
Retail -- 5.8%
	16,500	7-ELEVEN, Inc. (b)		294,525
	5,400	Aeropostale, Inc. (b)		145,314
	4,950	AnnTaylor Stores Corp. (b)		143,451
	4,950	Applebee's International, Inc.		113,949
	6,100	AutoNation, Inc. (b)		104,310
	3,200	CBRL Group, Inc.		98,720
	4,000	Chico's FAS, Inc. (b)		180,640
	4,000	CVS Corp.		168,080
	8,200	Foot Locker, Inc.		199,588
	3,200	J.C. Penney Co., Inc.		120,832
	2,200	Kmart Holding Corp. (b)(c)		157,960
	2,000	Lowe's Cos., Inc.		105,100
	2,800	Nordstrom, Inc.		119,308
	2,900	O'Reilly Automotive, Inc. (b)		131,080
	4,800	Pacific Sunwear of California, Inc. (b)		93,936
	4,600	PETsMART, Inc.		149,270
	4,450	RARE Hospitality International, Inc. (b)		110,805
	3,200	Regis Corp.		142,688
	4,200	TBC Corp. (b)		99,960
	2,300	Urban Outfitters, Inc. (b)		140,093
				2,819,609
Schools -- 0.8%
	8,800	Career Education Corp. (b)		400,928
Software -- 0.7%
	18,300	Alliance Atlantis Communications, Inc., Class B (b)		336,738
Technology -- 1.9%
	8,400	Altera Corp. (b)		186,648
	31,000	Compuware Corp. (b)		204,600
	6,500	Intel Corp.		179,400
	7,300	Micros Systems, Inc. (b)		350,181
				920,829
Telecommunication Equipment -- 0.3%
	8,800	Tekelec (b)		159,896
Telephone & Telecommunications -- 1.2%
	20,300	Aspect Communications (b)		288,260
	4,100	Telephone & Data Systems, Inc.		291,920
				580,180
Transportation Services -- 1.3%
	5,600	ABX Air, Inc. (b)		38,248
	2,500	Fedex Corp.		204,225
	6,400	J.B. Hunt Transport Services, Inc.		246,912
	3,585	Yellow Roadway Corp. (b)		142,898
				632,283
Wholesale Distribution -- 1.7%
	3,100	CDW Corp.		197,656
	4,000	Fastenal Co.		227,320
	8,600	SCP Pool Corp.		387,000
				811,976
Total Common Stocks (Cost $37,550,424)				47,631,213
Preferred Stock -- 0.0%
Miscellaneous Business Services -- 0.0%
	690	News Corp. Ltd. ADR		22,687
Total Preferred Stock (Cost $19,978)				22,687
Cash Equivalent -- 2.5%
	1,196,644	Huntington Money Market Fund, Interfund Class*		1,196,644
Total Cash Equivalent (Cost $1,196,644)				1,196,644
Principal Amount				Value
Short-Term Securities Held as Collateral for Securities Lending -- 1.6%
$	784,500	Pool of various securities for Huntington Funds--footnote 2 (Securities Lending)	$	784,500
Total Short-Term Securities Held as Collateral for Securities Lending (Cost $784,500)				784,500
Total Investments (Cost $39,551,546) (a) -- 101.7%			$	49,635,044
Liabilities in Excess of Other Assets -- (1.7)%				(811,026	)
Net Assets -- 100.0%			$	48,824,018

(a) Represents cost for financial reporting purposes and differs from value by net unrealized appreciation (depreciation) of securities as follows:

Unrealized appreciation	$10,640,359
Unrealized depreciation	(556,861	)
Net unrealized appreciation (depreciation)	$10,083,498

Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington Rotating Markets Fund

June 30, 2004 (Unaudited)

Shares				Value
Mutual Funds -- 98.4%
	15,291	DIAMONDS Trust Series I	$	1,598,674
	34,247	iShares EAFE Index Fund		4,898,690
	22,715	iShares MSCI EMU Index Fund		1,409,693
	52,485	iShares MSCI Japan Index Fund		557,391
	39,371	iShares MSCI United Kingdom Index Fund		635,842
	73,076	iShares Russell 1000 Index Fund		4,466,404
	21,933	iShares S&P Global 100 Index Fund		1,272,114
	10,834	iShares S&P Small Cap 600 Index Fund		1,592,598
	24,610	iShares U.S. Healthcare Sector Index Fund		1,443,869
	14,175	Midcap SPDR Trust Series I		1,576,969
	16,833	NASDAQ 100 Index Fund		635,446
	9,541	SPDR Trust Series 1		1,092,731
Total Mutual Funds (Cost $18,587,811)				21,180,421
Cash Equivalent -- 1.5%
	312,554	Huntington Money Market Fund, Interfund Class*	$	312,554
Total Cash Equivalent (Cost $312,554)				312,554
Total Investments (Cost $18,900,365) (a) -- 99.9%				21,492,975
Other Assets in Excess of Liabilities -- 0.1%				17,854
Net Assets -- 100.0%			$	21,510,829

(a) Represents cost for financial reporting purposes and differs from value by net unrealized appreciation (depreciation) of securities as follows:

Unrealized appreciation	$2,626,476
Unrealized depreciation	(33,866	)
Net unrealized appreciation (depreciation)	$2,592,610

Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington Situs Small Cap Fund

June 30, 2004 (Unaudited)

Shares			Value
Australia -- 1.1%
Chemicals - Diversified -- 0.5%
16,000	Orica Ltd.	$	168,830
Diversified Minerals -- 0.3%
41,000	Iluka Resources Ltd.		129,502
Property Trust -- 0.3%
37,100	Stockland		134,294
			432,626
Denmark -- 0.4%
Electrical & Electronic -- 0.2%
5,300	Vestas Wind Systems A/S (b)		78,052
Pharmaceuticals -- 0.2%
2,200	Novozymes A/S, Class B		99,454
			177,506
Finland -- 0.2%
Machinery -- 0.2%
1,600	Kone OYJ, Class B		96,928
Germany -- 0.9%
Drugs -- 0.1%
850	Stada Arzneimittel AG		35,676
Retail -- 0.8%
4,600	Douglas Holding AG		132,659
3,275	Fielmann AG		209,660
			342,319
			377,995
Hong Kong -- 0.2%
Television -- 0.2%
19,000	Television Broadcasts Ltd.		81,367
Ireland -- 0.6%
Financial Services -- 0.4%
55,000	Halma PLC		160,581
Food & Beverage -- 0.2%
3,200	Kerry Group PLC		67,896
			228,477
Italy -- 0.2%
Oil & Gas -- 0.2%
7,200	Saipem SPA		65,672
Japan -- 1.1%
Agriculture -- 0.0%
90	Hokuto Corp.		1,585
Electrical & Electronic -- 0.3%
14,000	Furuno Electric		103,051
Fats & Oils -- 0.4%
14,000	Fuji Oil Co. Ltd.		178,827
Medical Supplies -- 0.4%
9,000	Tanabe Seiyaku Co. Ltd.		80,720
2,700	Terumo Corp.		67,860
			148,580
			432,043
Singapore -- 0.2%
Beer & Ale -- 0.2%
22,000	Asia Pacific Breweries Ltd.		98,620
Spain -- 0.4%
Public Thoroughfares -- 0.4%
8,635	Acesa Infraestructuras SA		150,783
Switzerland -- 0.3%
Confectionery -- 0.3%
10	Lindt & Spruengli AG		118,257
United Kingdom -- 0.8%
Commercial Services -- 0.3%
44,800	Aggreko PLC		134,060
Diversified Minerals -- 0.3%
8,600	Antofagasta Holdings		147,135
Industrial Goods & Services -- 0.2%
7,300	Bunzl PLC		61,052
			342,247
United States -- 92.9%
Aerospace & Defense -- 2.8%
6,300	Alliant Techsystems, Inc. (b)		399,042
21,300	Armor Holdings, Inc. (b)		724,200
			1,123,242
Banking -- 6.5%
15,300	Anchor Bancorp Wisconsin, Inc.		404,532
20,000	Bancshares of Florida, Inc (b)		279,000
9,160	Banknorth Group, Inc.		297,517
37,200	Colonial Bancgroup, Inc.		675,924
7,500	Main Street Banks, Inc.		210,750
8,420	SCBT Financial Corp		253,863
10,200	WSFS Financial Corp.		496,434
			2,618,020
Building & Construction -- 2.6%
18,400	Florida Rock Industries		775,928
4,125	MDC Holdings, Inc.		262,391
			1,038,319
Business Services -- 2.0%
8,900	CDI Corp.		307,940
12,300	Jacobs Engineering Group, Inc. (b)		484,374
			792,314
Chemicals -- 0.5%
6,500	Albemarle Corp.		205,725
Combination Utility Services -- 0.5%
6,100	Northwest Natural Gas Co.		186,050
Commercial Physical Research -- 0.5%
16,000	Albany Molecular Research (b)		206,880
Commercial Services & Supplies -- 0.7%
8,000	StarTek, Inc.		286,400
Communications Equipment -- 0.9%
14,900	Standard Microsystems Corp. (b)		347,468
Computer Services -- 7.0%
16,000	Cerner Corp. (b)(c)		713,280
27,000	Espeed, Inc. (b)		476,550
19,300	Hutchinson Technology, Inc. (b)		474,587
26,000	Intergraph Corp. (b)		672,360
23,900	Transaction Systems Architects, Inc. (b)		514,567
			2,851,344
Consumer Products - Misc. -- 1.1%
7,000	The Scotts Co. (b)		447,160
Electric Services -- 3.1%
28,100	Audiovox Corp. (b)		474,328
16,400	Hawaiian Electric Industries, Inc.		428,040
27,600	Methode Electronics, Inc.		357,972
			1,260,340
Electronic Measuring Instruments -- 1.3%
14,300	Garmin Ltd. (c)		529,672
Energy -- 1.1%
17,000	Headwaters, Inc. (b)		440,810
Fire, Marine & Casualty Insurance -- 1.7%
17,000	Arch Capital Group (b)		677,960
Food & Beverages -- 2.0%
17,477	Fresh Del Monte Produce, Inc. (c)		441,644
8,000	Performance Food Group Co. (b)		212,320
5,700	RARE Hospitality International, Inc. (b)		141,930
			795,894
Gas Production & Distribution -- 0.7%
8,250	UGI Corp.		264,825
Home Furnishings Rental -- 1.0%
13,850	RENT-A-CENTER, Inc. (b)		414,531
Hotels & Lodging -- 3.2%
10,000	Kerzner International Ltd. (b)(c)		475,600
11,700	Mandalay Resort Group		803,088
			1,278,688
Household Furnishings -- 3.2%
5,000	American Woodmark Corp.		299,250
37,050	Fossil, Inc. (b)		1,009,613
			1,308,863
Insurance -- 1.3%
22,300	Scottish Annuity & Life Holdings Ltd.		518,475
Leisure -- 1.2%
11,650	Brunswick Corp.		475,320
Machinery -- 3.6%
15,000	Cuno, Inc. (b)		800,250
19,000	Intermagnetics General Corp. (b)		646,570
			1,446,820
Medical & Medical Services -- 6.1%
11,100	Bio-Rad Laboratories, Inc., Class A (b)		653,346
6,200	Coventry Health Care, Inc. (b)		303,180
15,000	Edwards Lifesciences Corp. (b)		522,750
2,000	Henry Schein, Inc. (b)		126,280
10,000	Kindred Healthcare, Inc. (b)		263,500
2,050	Unitedhealth Group, Inc.		127,613
31,300	US Oncology, Inc. (b)		460,736
			2,457,405
Metals & Mining -- 3.6%
13,000	Precision Castparts Corp.		710,970
28,500	RTI International Metals, Inc. (b)		454,575
10,700	Timken Co.		283,443
			1,448,988
Miscellaneous Business Services -- 0.8%
8,000	Ryder System, Inc.		320,560
Nursing & Personal Care Facilities -- 0.3%
3,900	Manor Care, Inc.		127,452
Office Equipment -- 1.5%
16,000	Global Imaging Systems, Inc. (b)		586,560
Paper & Paper Products -- 1.2%
14,800	Universal Forest Products		477,300
Petroleum & Petroleum Products -- 8.8%
20,000	Denbury Resources, Inc. (b)		419,000
13,200	Houston Exploration Co. (b)		684,287
9,800	Hydril Co. (b)		308,700
4,700	Newfield Exploration Co. (b)		261,978
24,750	Patina Oil & Gas Corp.		739,282
10,500	Varco International, Inc. (b)		229,845
16,500	Veritas DGC, Inc. (b)		381,975
18,416	Xto Energy, Inc.		548,613
			3,573,680
Pharmaceuticals -- 0.5%
6,000	Par Pharmaceutical, Inc. (b)		211,260
Printing & Publishing -- 0.5%
4,600	Banta Corp.		204,286
Real Estate Investment Trusts -- 1.5%
6,900	CBL & Associates Properties, Inc.		379,500
3,000	Healthcare Realty Trust, Inc.		112,440
10,900	HRPT Properties Trust		109,109
			601,049
Recreation & Utility Trailer Dealers -- 0.6%
7,200	Thor Industries, Inc.		240,912
Residential Building Construction -- 0.4%
4,100	Toll Brothers, Inc. (b)		173,512
Residential Lighting Fixtures -- 1.4%
17,000	Thomas Industries, Inc.		564,400
Retail -- 8.5%
7,500	AnnTaylor Stores Corp. (b)		217,350
5,500	Columbia Sportswear Co. (b)		300,410
14,200	Polo Ralph Lauren Corp.		489,190
16,100	Reebok International Ltd.		579,278
11,800	Ryans Restaurant Group, Inc. (b)		186,440
18,200	Urban Outfitters, Inc. (b)		1,108,561
21,900	West Marine, Inc. (b)		588,015
			3,469,244
Semiconductor Equipment -- 1.5%
14,150	Imation Corp.		602,932
Steel -- 0.8%
2,600	Quanex Corp.		126,620
9,000	Steel Technologies, Inc.		198,720
			325,340
Surgical Appliances & Supplies -- 2.2%
26,300	Mentor Corp.		901,827
Technology -- 1.7%
12,000	Black Box Corp.		567,120
20,000	Compuware Corp. (b)		132,000
			699,120
Telecommunications -- 1.0%
32,000	Inet Technologies, Inc. (b)		399,040
Transportation Services -- 1.5%
28,750	Werner Enterprises, Inc.		606,625
			37,506,612
Total Common Stocks (Cost $29,407,912)			40,109,133
Cash Equivalents -- 0.8%
310,016	Huntington Money Market Fund, Interfund Class*		310,016
Total Cash Equivalents (Cost $310,016)			310,016
Principal Amount			Value
Short-Term Securities Held as Collateral for Securities Lending -- 4.8%
$1,937,250	Pool of various securities for Huntington Funds--footnote 2 (Securities Lending)	$	1,937,250
Total Short-Term Securities Held as Collateral for Securities Lending (Cost $1,937,250)			1,937,250
Total Investments (Cost $31,655,178) (a) -- 104.9%			42,356,399
Liabilities in Excess of Other Assets -- (4.9)%		$	(1,975,889	)
NET ASSETS -- 100.0%		$	40,380,510

(a) Represents cost for financial reporting purposes and differs from value by net unrealized appreciation (depreciation) of securities as follows:

Unrealized appreciation	$10,856,035
Unrealized depreciation	(154,814	)
Net unrealized appreciation (depreciation)	$10,701,221

Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington Fixed Income Securities Fund

June 30, 2004 (Unaudited)

Principal Amount				Value
Auto/Truck Parts & Equipment -- 0.7%
$	1,000,000	Carlisle Cos., Inc., 7.250%, 1/15/07	$	1,080,911
Banks -- 1.3%
	1,000,000	First Tennessee Bank, 6.400%, 4/1/08		1,086,268
	1,000,000	KeyCorp, 6.750%, 3/15/06		1,065,616
				2,151,884
Building & Construction -- 1.0%
	1,500,000	Hanson PLC, 7.875%, 9/27/10		1,709,256
Business Services -- 0.6%
	1,000,000	Reynolds & Reynolds, 7.000%, 12/15/06		1,057,830
Diversified Financial Services -- 13.1%
	2,000,000	American General Finance, 6.100%, 5/22/06		2,107,428
	2,000,000	Capital One Bank, 6.500%, 7/30/04		2,006,576
	1,000,000	Ford Motor Credit Co., 7.750%, 3/15/05		1,033,253
	2,000,000	Ford Motor Credit Co., 7.600%, 8/1/05		2,093,728
	2,000,000	General Electric Capital Corp., 5.450%, 1/15/13		2,027,808
	1,000,000	General Motors Acceptance Corp., 6.875%, 9/15/11		1,025,297
	1,000,000	General Motors Acceptance Corp., 6.875%, 8/28/12		1,017,258
	2,000,000	Goldman Sachs Group, Inc., 6.600%, 1/15/12		2,152,178
	1,000,000	Household Financial Corp., 5.750%, 1/30/07		1,050,496
	3,000,000	Lehman Brothers Holdings, 7.500%, 9/1/06		3,276,000
	1,000,000	MBNA America Bank N.A., 6.500%, 6/20/06		1,058,555
	1,000,000	MBNA Corp., 6.875%, 6/1/05		1,034,188
	2,000,000	SLM Corp., 5.000%, 10/1/13		1,931,308
				21,814,073
Diversified Manufacturing -- 2.0%
	2,000,000	Eaton Corp., 8.900%, 8/15/06		2,224,676
	1,000,000	Norsk Hydro AS, 6.700%, 1/15/18		1,086,774
				3,311,450
Diversified Telecommunications -- 0.7%
	1,000,000	Alltel Ohio LP, 8.000%, 8/15/10		1,160,841
Electrical Services -- 4.5%
	1,000,000	Atlantic City Electric, 6.750%, 5/12/08		1,060,215
	1,000,000	Cincinnati Gas & Electric Co., 6.400%, 4/1/08		1,067,809
	1,000,000	Cinergy Global Resources, 6.200%, 11/3/08 (c)		1,069,750
	1,000,000	CLECO Corp., 6.520%, 5/15/09		1,046,359
	2,000,000	Dominion Resources, Inc., 5.000%, 3/15/13		1,910,590
	1,185,000	Pacificorp, 6.750%, 4/1/05		1,222,419
				7,377,142
Electronic Components -- 0.7%
	1,000,000	Philips Electronics NV, 8.375%, 9/15/06		1,096,686
Electronic Equipment & Instruments -- 1.3%
	1,000,000	Cooper Industries, Inc., 5.250%, 7/1/07		1,042,852
	1,000,000	Thermo Electron Corp., 7.625%, 10/30/08		1,104,357
				2,147,209
Food - Miscellaneous/Diversified -- 1.7%
	750,000	Diageo PLC, 7.125%, 9/15/04		757,862
	2,000,000	Safeway, Inc., 7.250%, 9/15/04		2,018,520
				2,776,382
Health Care Products -- 0.9%
	1,400,000	Allegiance Corp., 7.300%, 10/15/06		1,510,531
Insurance -- 4.6%
	815,000	Ace Ina Holdings, 8.200%, 8/15/04		820,761
	2,075,000	Anthem Insurance, 9.125%, 4/1/10		2,545,089
	2,000,000	Everest Reinsurance Holdings Co., 8.750%, 3/15/10		2,381,548
	1,750,000	Lincoln National Corp., 7.250%, 5/15/05		1,824,697
				7,572,095
Medical Instruments & Supplies -- 1.4%
$	2,170,000	Boston Scientific, 6.625%, 3/15/05		2,231,613
Multimedia -- 1.3%
	1,000,000	AOL Time Warner, Inc., 7.750%, 6/15/05		1,041,675
	1,000,000	E.W. Scripps Co., 6.625%, 10/15/07		1,096,792
				2,138,467
Petroleum & Petroleum Products -- 2.6%
	1,000,000	Kinder Morgan Energy Partners, 6.800%, 3/1/08		1,083,710
	2,000,000	Kinder Morgan Energy Partners, 7.400%, 3/15/31		2,131,124
	1,000,000	Teppco Partners LP, 7.625%, 2/15/12		1,117,420
				4,332,254
Pipelines -- 0.5%
	750,000	Trans-Canada Pipelines, 9.125%, 4/20/06		824,752
Printing & Publishing -- 0.9%
	1,200,000	Knight-Ridder, Inc., 9.875%, 4/15/09		1,479,452
Pulp Mills -- 0.4%
	600,000	Weyerhaeuser Co., 5.500%, 3/15/05		612,688
Railroads -- 1.3%
	1,000,000	Atchison Topeka & Santa Fe Railroad, 6.550%, 7/1/06		1,064,547
	1,000,000	Union Pacific Corp., 6.625%, 2/1/29		1,027,332
				2,091,879
Real Estate Investment Trusts -- 7.2%
	1,045,000	Avalon Properties, 6.875%, 12/15/07		1,142,734
	1,000,000	Carramerica Realty Corp, 6.625%, 3/1/05		1,022,932
	2,000,000	Duke Realty LP, 3.500%, 11/1/07		1,981,702
	1,500,000	Gables Realty, 5.750%, 7/15/07		1,569,750
	894,000	Liberty Property LP, 7.100%, 8/15/04		899,333
	1,000,000	MACK-CALI Realty LP, 7.750%, 2/15/11		1,133,967
	310,000	Merry Land & Investment Co., Inc, 7.250%, 6/15/05		322,371
	1,949,000	Simon Debartolo, 6.875%, 11/15/06		2,064,612
	580,000	Simon Property Group LP, 7.375%, 1/20/06		618,910
	1,000,000	Weingarten Realty Investment, 7.350%, 7/20/09		1,137,913
				11,894,224
Retail -- 1.7%
	2,500,000	Tandy Corp., 6.950%, 9/1/07		2,721,290
Telecommunication Services -- 0.7%
	1,000,000	Verizon Global Funding Corp., 7.750%, 12/1/30		1,123,180
Telephone Communication -- 0.7%
	1,000,000	Cox Communications, Inc., 7.750%, 8/15/06		1,086,775
Total Corporate Bonds (Cost $83,068,005)				85,302,864
U.S. Government Agencies -- 23.2%
Federal Farm Credit Bank -- 3.6%
	4,000,000	2.790%, 10/16/06		3,964,796
	2,000,000	3.625%, 7/28/08		1,975,378
				5,940,174
Federal Home Loan Bank -- 4.9%
	3,000,000	2.500%, 12/4/06		2,948,787
	3,000,000	5.010%, 9/28/07		3,067,008
	2,000,000	3.875%, 8/22/08		1,983,404
				7,999,199
Federal Home Loan Mortgage Corporation -- 6.7%
	2,000,000	3.000%, 5/26/06		2,000,946
	1,000,000	2.750%, 8/15/06		993,103
	3,000,000	2.000%, 5/21/07		2,964,036
	2,000,000	3.640%, 8/12/08		1,977,794
	1,000,000	5.000%, 4/1/14		973,501
	1,139,679	6.500%, 8/1/16		1,204,699
	1,000,000	5.000%, 1/27/17		956,746
				11,070,825
Federal National Mortgage Association -- 8.0%
	1,000,000	3.000%, 11/1/05		1,002,675
	1,000,000	2.500%, 5/12/06		992,160
	3,000,000	2.450%, 9/29/06		2,953,608
	3,000,000	4.375%, 9/15/12 (c)		2,879,682
	1,067,253	6.000%, 8/1/17		1,113,178
	4,000,000	6.210%, 8/6/38		4,193,083
				13,134,386
Total U.S. Government Agencies (Cost $38,176,375)				38,144,584
U.S. Treasury Obligations -- 20.2%
U.S. Treasury Bonds -- 9.9%
	2,000,000	8.750%, 8/15/20		2,770,234
	2,000,000	6.875%, 8/15/25		2,378,438
	2,000,000	6.750%, 8/15/26 (c)		2,350,704
	1,500,000	5.250%, 11/15/28		1,469,591
	3,000,000	6.250%, 5/15/30		3,358,944
	4,000,000	5.375%, 2/15/31 (c)		4,034,219
				16,362,130
U.S. Treasury Inflation Protected Bonds -- 3.0%
	1,785,000	3.375%, 1/15/12		2,093,808
	2,000,000	3.625%, 4/15/28		2,836,159
				4,929,967
U.S. Treasury Notes -- 7.3%
	4,000,000	3.125%, 10/15/08		3,919,844
	2,000,000	4.250%, 8/15/13 (c)		1,952,344
	1,000,000	7.500%, 11/15/16		1,232,773
	4,500,000	6.125%, 8/15/29		4,950,000
				12,054,961
Total U.S. Treasury Obligations (Cost $33,071,004)				33,347,058
Principal Amount or Shares			Value
U.S. Government Mortgage Backed Agencies -- 0.6%
Government National Mortgage Association -- 0.6%
$	360,671	Pool # 345128, 6.500%, 1/15/24	$	379,462
	138,547	Pool # 352982, 7.500%, 5/15/24		149,977
	54,403	Pool # 363175, 7.000%, 11/15/08		58,001
	11,939	Pool # 363194, 7.000%, 1/15/09		12,736
	72,934	Pool # 372962, 7.000%, 3/15/24		77,889
	30,412	Pool # 373015, 8.000%, 6/15/24		33,556
	223,437	Pool # 383488, 7.000%, 2/15/09		238,351
	40,281	Pool # 391615, 8.500%, 9/15/24		44,713
Total U.S. Government Mortgage Backed Agencies (Cost $945,026)				994,685
Preferred Stock -- 0.0%
Financial Services -- 0.0%
	1,400	National Commerce Capital Trust II, 7.700%		35,980
Total Preferred Stock (Cost $35,858)				35,980
Cash Equivalent -- 3.1%
	5,177,722	Huntington Money Market Fund, Interfund Class*		5,177,722
Total Cash Equivalent (Cost $5,177,722)				5,177,722
Short-Term Securities Held as Collateral for Securities Lending -- 6.6%
$	10,972,750	Pool of various securities for Huntington Funds--footnotes 2 (Securities Lending)	$	10,972,750
Total Short-Term Securities Held as Collateral for Securities Lending (Cost $10,972,750)				10,972,750
Total Investments (Cost $171,446,740) (a) -- 105.5%				173,975,643
Other Assets in Excess of Liabilities -- (5.5)%				(9,130,028	)
Net Assets -- 100.0%			$	164,845,615

(a) Represents cost for financial reporting purposes and differs from value by net unrealized appreciation (depreciation) of securities as follows:

Unrealized appreciation	$4,487,554
Unrealized depreciation	(1,958,651	)
Net unrealized appreciation (depreciation)	$2,528,903

Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington Intermediate Government Income Fund

June 30, 2004 (Unaudited)

Principal Amount			Value
U.S. Government Agencies -- 55.1%
Federal Farm Credit Bank -- 3.4%
$	1,000,000	5.750%, 1/18/11	$	1,061,113
	2,000,000	4.900%, 3/17/14		1,879,228
				2,940,341
Federal Home Loan Bank -- 6.2%
	1,000,000	Series 3M08, 3.040%, 5/28/08		969,900
	2,000,000	Series EM09, 5.985%, 4/9/09		2,161,652
	2,000,000	Series ID10, 6.625%, 11/15/10		2,214,496
				5,346,048
Federal Home Loan Mortgage Corporation -- 30.3%
	2,000,000	3.000%, 3/29/07		1,954,494
	1,500,000	4.260%, 7/19/07		1,528,820
	1,000,000	3.250%, 1/28/08		984,302
	1,255,000	3.650%, 5/7/08		1,246,046
	2,000,000	3.000%, 5/13/08		1,939,932
	1,000,000	5.000%, 7/30/09		1,002,272
	1,500,000	4.750%, 12/8/10		1,488,030
	1,500,000	4.500%, 12/16/10		1,461,617
	2,000,000	6.000%, 6/15/11		2,147,512
	2,000,000	5.125%, 8/20/12		2,003,858
	2,000,000	4.750%, 10/11/12		1,941,012
	1,500,000	5.162%, 12/16/13		1,487,724
	3,500,000	5.200%, 3/5/19		3,288,491
$	2,500,000	Series 2571, Class VP, 5.500%, 7/15/21		2,439,385
	1,000,000	Series 2670, Class QP, 4.000%, 2/15/27		970,945
				25,884,440
Federal National Mortgage Association -- 11.1%
	2,000,000	2.100%, 6/26/06		1,964,390
	1,000,000	3.500%, 12/28/06		998,511
	1,500,000	6.375%, 6/15/09		1,640,790
	2,000,000	5.500%, 7/18/12		2,016,072
	2,000,000	4.375%, 7/17/13		1,872,662
	1,000,000	5.380%, 10/2/13		1,019,926
				9,512,351
Government National Mortgage Association -- 4.1%
	2,000,000	Series 2002-70, Class A, 4.000%, 8/20/32		1,998,322
	1,500,000	Series 2003-100, Class VB, 5.500%, 1/20/23		1,479,895
				3,478,217
Total U.S. Government Agencies (Cost $47,297,780)				47,161,397
U.S. Government Mortgage Backed Agencies -- 25.3%
Federal Home Loan Mortgage Corporation -- 7.8%
$	1,862,881	Pool # C90699, 5.000%, 8/1/23		1,840,464
	1,022,228	Pool # E01184, 6.000%, 8/1/17		1,066,672
	1,097,810	Pool # M80773, 5.000%, 10/1/09		1,114,478
	1,717,255	Series 2555, Class B, 4.250%, 1/15/18		1,683,377
	926,899	Series 2591, Class QY, 5.000%, 5/15/14		948,934
				6,653,925
Federal National Mortgage Association -- 15.1%
	2,163,391	Pool # 254759, 4.500%, 6/1/18		2,119,817
	938,307	Pool # 254911, 5.000%, 10/1/23		927,134
	548,273	Pool # 647408, 5.000%, 10/1/17		550,771
	798,736	Pool # 677002, 5.500%, 1/1/18		819,253
	474,303	Pool # 681289, 5.500%, 1/1/18		486,487
	2,451,203	Pool # 685852, 5.500%, 1/1/18		2,514,165
	1,541,810	Series 2003-108, Class HA, 5.000%, 1/25/27		1,552,678
	2,194,510	Series 2003-11, Class BA, 5.500%, 8/25/32		2,199,179
	833,972	Series 2003-16, Class CB, 4.000%, 2/25/33		807,236
	987,471	Series 2004-28, Class PB, 6.000%, 8/25/28		1,025,462
				13,002,182
Government National Mortgage Association -- 2.4%
	881,165	Pool # 2699, 6.000%, 1/20/29		904,495
	1,114,567	Pool # 576456, 6.000%, 3/15/32		1,144,460
				2,048,955
Total U.S. Government Mortgage Backed Agencies (Cost $21,943,510)				21,705,062
Principal Amount or Shares			Value
U.S. Treasury Notes -- 17.1%
$	1,000,000	7.875%, 11/15/04	$	1,023,203
	2,000,000	4.625%, 5/15/06		2,070,860
	2,000,000	6.875%, 5/15/06		2,152,968
	2,000,000	7.000%, 7/15/06		2,166,954
	1,000,000	6.500%, 10/15/06		1,079,492
	2,000,000	6.125%, 8/15/07		2,169,766
	2,000,000	3.375%, 11/15/08		1,978,124
	1,000,000	5.000%, 8/15/11		1,043,945
	1,000,000	2.000%, 1/15/14		1,011,418
Total U.S. Treasury Notes (Cost $14,146,374)				14,696,730
Cash Equivalent -- 2.0%
	1,753,081	Huntington Money Market Fund, Interfund Class*		1,753,081
Total Cash Equivalent (Cost $1,753,081)				1,753,081
Total Investments (Cost $85,140,745) (a) -- 99.5%				85,316,270
Other Assets in Excess of Liabilities -- 0.5%				427,216
Net Assets -- 100.0%			$	85,743,486

(a) Represents cost for financial reporting purposes and differs from value by net unrealized appreciation (depreciation) of securities as follows:

Unrealized appreciation	$	1,413,957
Unrealized depreciation		(1,238,432	)
Net unrealized appreciation (depreciation)	$	175,525

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington Michigan Tax-Free Fund

June 30, 2004 (Unaudited)

Principal Amount			Value
Municipal Bonds -- 99.0%
Michigan -- 99.0%
$	80,000	Alpena, MI, Public Schools, GO, (MBIA Ins), 5.500%, 5/1/09	$	85,544
	235,000	Ann Arbor, MI, Water Supply Systems Revenue, Series Z, (AMBAC Ins), 3.000%, 2/1/11		223,828
	195,000	Atherton, MI, Community School District, GO, 6.000%, 5/1/09		219,045
	100,000	Bedford, MI, Public School District, GO, (FSA Ins), 4.650%, 5/1/12		103,458
	300,000	Birmingham, MI, Sewer Improvements, GO, 5.700%, 10/1/13		330,561
	400,000	Birmingham, MI, Sewer Improvements, GO, 5.750%, 10/1/14		438,672
	100,000	Bloomfield Hills, MI, School Improvements, GO, 5.000%, 5/1/11		106,144
	150,000	Brandon, MI, School District, GO, (FGIC Ins), 5.875%, 5/1/16		161,748
	100,000	Burton, MI, Water Supply & Sewer Revenue, (MBIA Ins), 5.000%, 12/1/08		107,678
	500,000	Cadillac, MI, Area Public Schools, GO, (FGIC Ins), 5.375%, 5/1/10		525,575
	800,000	Caledonia, MI, Community Schools, GO, 5.250%, 5/1/15		854,695
	135,000	Clarkson, MI, Community Schools Refunding, GO, (AMBAC Ins), 5.000%, 5/1/08		144,670
	100,000	Coldwater, MI, Water Supply Refunding Revenue, (AMBAC Ins), 4.750%, 7/1/10		103,687
	300,000	Coopersville, MI, Area Public Schools, GO, (MBIA Ins), 4.875%, 5/1/15		308,229
	250,000	Detroit, MI, Downtown Development Authority, Series A, (MBIA Ins), 4.650%, 7/1/10		263,360
	150,000	Detroit, MI, Public Improvements, Series A, GO, (FGIC Ins), 5.375%, 4/1/11		160,995
	300,000	Detroit, MI, School District, GO, (FGIC Ins), 5.375%, 5/1/15		322,602
	50,000	Detroit, MI, Water Supply System, Series A, (MBIA Ins), 5.200%, 7/1/08		54,104
	235,000	Detroit, MI, Wayne County Stadium Authority Revenue, (FGIC Ins), 5.500%, 2/1/17		254,077
	100,000	East China, MI, School District Refunding, GO, (FGIC Ins), 4.700%, 5/1/10		104,469
	100,000	Ferndale, MI, GO, (FGIC Ins), 6.000%, 5/1/08		110,555
	500,000	Ferndale, MI, GO, (FGIC Ins), 5.250%, 4/1/16		526,960
	250,000	Ferris State University, MI, Refunding Revenue (FGIC Ins), 5.150%, 10/1/09		261,778
	100,000	Forest Hills, MI, Public Schools, GO, 5.200%, 5/1/08		103,694
	250,000	Forest Hills, MI, Public Schools, GO, 5.250%, 5/1/13		268,575
	400,000	Fowlerville, MI, Community School District, GO, (MBIA Ins), 5.350%, 5/1/10		431,856
	200,000	Genesee County, MI, Building Authority, GO, (AMBAC Ins), 5.100%, 5/1/14		210,012
	50,000	Gerrish & Higgins, MI, School District Refunding, GO, (FSA Ins), 5.100%, 5/1/10		52,095
	500,000	Gibraltar, MI, School District GO, (MBIA Ins), 5.000%, 5/1/08		535,815
	200,000	Godwin Heights, MI, Public Schools, GO, 5.600%, 5/1/14		217,070
	100,000	Grand Ledge, MI, Public School District Refunding, GO, (FSA Ins), 4.750%, 5/1/14		102,598
	545,000	Grand Rapids, MI, Downtown Development Authority, (MBIA Ins), 6.600%, 6/1/08		558,331
	490,000	Greenville, MI, Public Schools Refunding GO, (FSA Ins), 4.900%, 5/1/13		507,380
	500,000	Grosse Isle Township, MI, School District Refunding, GO, (FGIC Ins), 5.600%, 5/1/10		543,205
	655,000	Holland, MI, Water Supply Systems Revenue, Series A, 5.250%, 7/1/12		686,046
	200,000	Howell, MI, Public Schools, GO, 5.000%, 5/1/10		216,398
	100,000	Hudsonville, MI, Public Schools, GO (FSA Ins), 3.500%, 5/1/08		101,789
	100,000	Huron Valley, MI, School District, GO, (FGIC Ins), 5.350%, 5/1/07		107,256
	80,000	Ingham County, MI, Building Authority Refunding Revenue, (AMBAC Ins), 5.000%, 11/1/16		83,362
	50,000	Kalamazoo, MI, Building Authority Revenue, (FSA Ins), 4.400%, 10/1/10		51,853
	100,000	Kalamazoo, MI, Hospital Finance Authority Refunding Revenue, (MBIA Ins), 5.250%, 5/15/18		104,988
	450,000	Kelloggsville, MI, Public Schools, (FGIC Ins), 5.000%, 5/1/13		474,080
	175,000	Kent County, MI, Building Authority, GO, 5.000%, 11/1/09		186,200
	250,000	Kent County, MI, Building Authority, GO, 5.000%, 6/1/14		263,840
	25,000	Kent County, MI, Building Authority, GO, 4.800%, 6/1/16		25,768
	500,000	Lake Shore, MI, Public Schools, (FSA Ins), 5.400%, 5/1/12		540,495
	250,000	Lansing, MI, Board of Water & Light Revenue, Series A, 5.000%, 7/1/15		271,922
	75,000	Lansing/Ingham County, MI, Building Authority, GO, 5.125%, 11/1/10		80,734
	200,000	Lansing/Ingham County, MI, Building Authority, GO, 5.200%, 11/1/11		214,704
	100,000	Livingston County, MI, Water & Sewer Improvements Revenue, (MBIA Ins), 5.000%, 6/1/15		103,043
	110,000	Mancelona, MI, Public Schools, (FGIC Ins), 5.200%, 5/1/12		116,235
	75,000	Michigan Municipal Building Authority Revenue, 4.800%, 10/1/08		79,812
	45,000	Michigan Municipal Building Authority, Pollution Control Revenue, 5.250%, 10/1/07		48,546
	75,000	Michigan Municipal Building Authority, Pollution Control Revenue, 6.000%, 10/1/07		82,519
	250,000	Michigan Municipal Building Authority, Water Utility Improvements Revenue, 5.875%, 10/1/17		286,972
	150,000	Michigan State Building Authority Refunding Revenue, Series I, (FSA Ins), 5.000%, 10/15/08		161,196
	100,000	Michigan State Building Authority Revenue, Series I, 4.750%, 10/15/11		104,909
	300,000	Michigan State Building Authority Revenue, Series I, (AMBAC Ins), 6.500%, 10/1/07		336,570
	250,000	Michigan State Building Authority Revenue, Series I, (AMBAC Ins), 5.100%, 10/1/08		274,278
	50,000	Michigan State Building Authority Revenue, Series I, (AMBAC Ins), 5.200%, 10/1/09		55,010
	80,000	Michigan State Building Authority Revenue, Series I, (MBIA Ins), 4.750%, 10/15/12		83,458
	500,000	Michigan State Building Authority, Facilities Program Refunding Revenue, Series I, 5.125%, 10/15/15		526,585
	250,000	Michigan State Building Authority, Facilities Program Refunding Revenue, Series III, 5.000%, 10/15/07		267,573
	100,000	Michigan State Building Authority, Facilities Program Revenue, Series I, 5.500%, 10/15/06		107,003
	1,420,000	Michigan State Building Authority, Facilities Program Revenue, Series II, 5.000%, 10/15/12		1,541,666
	1,030,000	Michigan State Building Authority, Facilities Program Revenue, Series II, 5.000%, 10/15/14		1,118,250
	200,000	Michigan State Certificate Participation, New Center Development, Inc., (MBIA Ins), 5.500%, 9/1/07		216,746
	300,000	Michigan State Comprehensive Transit Refunding Revenue, Series A, (MBIA Ins), 5.250%, 8/1/12		318,816
	610,000	Michigan State Comprehensive Transit Revenue, Series A, (MBIA Ins), 5.000%, 11/1/10		654,176
	125,000	Michigan State Environmental Protection Unrefunded, GO, 4.875%, 11/1/07		129,919
	100,000	Michigan State Highway Improvements Revenue, Series A, (FGIC Ins), 5.250%, 11/1/07		108,021
	660,000	Michigan State Hospital Financing Authority, (AMBAC Ins), 6.000%, 1/1/09		680,532
	10,000	Michigan State Hospital Financing Authority, (AMBAC Ins), 5.750%, 5/15/16		10,227
	250,000	Michigan State School Improvements, GO, 4.800%, 12/1/11		261,690
	365,000	Michigan State Underground Storage Tank Financial Assurance Authority, (AMBAC Ins), 5.500%, 5/1/09		387,969
	100,000	Muskegon County, MI, Building Authority Refunding, GO, (AMBAC Ins), 4.625%, 9/1/13		103,902
	50,000	Oakland County, MI, Sewer Improvements Refunding, GO, 4.950%, 10/1/09		52,091
	75,000	Onsted, MI, Community Schools, GO, (MBIA Ins), 5.250%, 5/1/17		79,379
	55,000	Ottawa County, MI, Holland Township Water Supply, GO, 5.500%, 8/1/06		58,513
	500,000	Paw Paw, MI, Public School District, GO, (FGIC Ins), 6.500%, 5/1/09		570,815
	100,000	Pinckney, MI, Community Schools, GO, (FGIC Ins), 5.500%, 5/1/12		106,874
	200,000	Potterville, MI, Public Schools, GO, (FSA Ins), 5.550%, 5/1/14		221,392
	100,000	Reeths-Puffer, MI, Schools Refunding, GO, (FGIC Ins), 4.850%, 5/1/12		102,831
	150,000	Reeths-Puffer, MI, Schools, GO, (FGIC Ins), 5.250%, 5/1/12		157,616
	490,000	Romeo, MI, Community School District, GO, 5.250%, 5/1/15		523,501
	640,000	Saginaw Valley State University, MI, Revenue, (AMBAC Ins), 5.000%, 7/1/12		689,810
	65,000	South Lyon, MI, Community Schools, GO, 4.250%, 5/1/10		67,602
	100,000	South Lyon, MI, Community Schools, GO, (FGIC Ins), 5.375%, 5/1/06		105,776
	500,000	South Macomb, MI, Disposal Authority Revenue, (AMBAC Ins), 5.375%, 9/1/12		541,624
	200,000	Sterling Heights, MI, Building Authority, GO, (FGIC Ins), 5.600%, 10/1/13		217,830
	50,000	Sterling Heights, MI, Public Improvements, GO, 5.250%, 10/1/06		53,094
	40,000	Three Rivers, MI, Community Schools, GO, (FSA Ins), 4.900%, 5/1/13		41,419
	120,000	Traverse City, MI, Area Public Schools, (FGIC Ins), 7.250%, 5/1/07		134,512
	100,000	Unionville-Sebewaing, MI, Area School District, GO, 5.000%, 5/1/07		106,284
	300,000	University of Michigan Refunding Revenue, Series A-1, 5.250%, 12/1/10		320,247
	200,000	Van Buren County, MI, Public Schools, GO, (AMBAC Ins), 4.750%, 5/1/16		203,794
	500,000	Van Buren County, MI, Sewage Disposal, GO, (AMBAC Ins), 5.000%, 5/1/16		519,670
	200,000	Waterford, MI, School District Refunding, GO, 5.000%, 6/1/14		208,926
	50,000	Wayne County, MI, Community Schools, GO, 5.125%, 5/1/09		53,045
	50,000	Wayne County, MI, GO, 5.200%, 10/1/12		53,913
	125,000	Wayne County, MI, GO, 5.250%, 6/1/16		132,969
	750,000	Wayne County, MI, Public Improvements, Series A, GO, 5.250%, 10/1/12		807,059
	15,000	Wayne County, MI, Wayne Community College, GO, (AMBAC Ins), 5.350%, 7/1/13		16,309
	350,000	Wayne County, MI, Westland Community Schools, GO, 5.125%, 5/1/11		370,241
	100,000	Wayne County, MI, Westland Community Schools, GO, (FSA Ins), 5.125%, 5/1/14		105,201
	500,000	Wayne State University, MI, University & College Improvements Revenue, (FGIC Ins), 4.750%, 11/15/08		532,960
	250,000	Wayne-Westland, MI, Community Schools, GO, (FSA Ins), 5.125%, 5/1/15		260,668
	110,000	West Branch Rose City, MI, Area School District, GO, 5.375%, 5/1/07		118,026
	145,000	West Ottawa, MI, Public School District, (FGIC Ins), 5.400%, 5/1/09		154,658
	355,000	West Ottawa, MI, Public School District, (FGIC Ins), 5.400%, 5/1/09		383,751
	75,000	Western Michigan University Refunding Revenue, (FGIC Ins), 5.000%, 11/15/11		80,152
	250,000	Whiteford, MI, Agricultural School District, GO, 5.000%, 5/1/15		262,030
	85,000	Wyandotte, MI, Electric Utility Refunding Revenue, (MBIA Ins), 5.375%, 10/1/13		92,268
	60,000	Wyoming, MI, Public Improvements, GO, (FGIC Ins), 5.250%, 5/1/11		65,040
	100,000	Wyoming, MI, Public Schools, GO, (FGIC Ins), 5.050%, 5/1/11		107,791
Total Municipal Bonds (Cost $29,050,405)				29,557,804
Cash Equivalent -- 0.2%
	48,624	Fidelity Institutional Tax-Exempt Fund		48,624
Total Cash Equivalent (Cost $48,624)				48,624
Total Investments (Cost $29,099,029) (a) -- 99.2%				29,606,428
Other Assets in Excess of Liabilities -- 0.8%				233,611
Net Assets -- 100.0%				$29,840,039

(a) Represents cost for financial reporting purposes and differs from value by net unrealized appreciation (depreciation) of securities as follows:

Unrealized appreciation	$718,260
Unrealized depreciation	(210,861	)
Net unrealized appreciation (depreciation)	$507,399

Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington Mortgage Securities Fund

June 30, 2004 (Unaudited)

Principal Amount				Value
U.S. Government Mortgage Backed Agencies -- 57.7%
Federal Home Loan Mortgage Corporation -- 4.4%
$	811,559	6.000%, 3/1/29	$	832,643
	1,040	Pool # 380059, 9.500%, 10/1/04		1,054
	305,733	Pool # C90237, 6.500%, 11/1/18		320,976
	602,613	REMIC Series 2399, Class EC, 5.500%, 1/15/09		623,002
	537,604	REMIC Series 2584, Class LE, 4.000%, 12/15/13		506,314
				2,283,989
Federal National Mortgage Association -- 53.3%
	1,758,886	4.500%, 7/1/18		1,724,008
	1,477,790	5.000%, 3/25/23		1,463,596
	2,862,548	5.500%, 7/1/33		2,858,016
	830,807	6.000%, 8/1/33		849,417
	1,469,588	5.500%, 4/25/34		1,465,051
	1,054,682	Pool # 254486, 5.000%, 9/1/17		1,059,815
	1,252,358	Pool # 254720, 4.500%, 5/1/18		1,227,525
	1,298,035	Pool # 254759, 4.500%, 6/1/18		1,272,296
	1,353,683	Pool # 254831, 5.000%, 8/1/23		1,337,988
	1,853,001	Pool # 254908, 5.000%, 9/1/23		1,831,517
	2,473,548	Pool # 254911, 5.000%, 10/1/23		2,444,869
	1,000,000	Pool # 255320, 5.000%, 7/1/24		986,347
	456,000	Pool # 602879, 6.000%, 11/1/31		467,118
	1,183,546	Pool # 663808, 5.000%, 11/1/17		1,189,307
	948,607	Pool # 681289, 5.500%, 1/1/18		973,270
	1,673,285	Pool # 684488, 5.000%, 12/1/17		1,681,429
	1,739,960	Pool # 693256, 5.000%, 4/1/18		1,746,696
	201,966	Pool # E65142, 6.500%, 7/1/11		213,901
	1,191,501	REMIC Series 1998-M, Class A2, 6.250%, 1/25/08		1,264,181
	639,638	REMIC Series 2001-60, Class GR, 6.000%, 4/25/30		641,370
	11,433	REMIC Series 2003-3, Class JA, 5.000%, 2/25/18		11,442
	987,471	Series 2004-28, Class PB, 6.000%, 8/25/28		1,026,079
				27,735,238
Government National Mortgage Association -- 0.0%
	5,079	Pool # 328651, 8.500%, 5/15/07		5,395
Total U.S. Government Mortgage Backed Agencies (Cost $30,374,637)				30,024,622
U.S. Government Agencies -- 26.9%
Federal Home Loan Mortgage Corporation -- 18.2%
	500,000	3.650%, 1/23/08		499,128
	500,000	5.125%, 8/20/12		500,982
	1,000,000	5.000%, 11/15/26		1,014,330
	2,000,000	REMIC Series 2481, Class PE, 6.000%, 4/15/31		2,057,368
	1,000,000	REMIC Series 2543, Class PQ, 5.500%, 4/15/22		996,648
	2,000,000	REMIC Series 2553, Class AE, 5.500%, 9/15/29		2,015,945
	1,000,000	Series 2571, Class VP, 5.500%, 7/15/21		976,379
	1,500,000	Series 2670, Class QP, 4.000%, 2/15/27		1,457,355
				9,518,135
Federal National Mortgage Association -- 5.5%
	1,000,000	2.875%, 5/19/08		963,573
	2,000,000	4.500%, 9/25/18		1,883,811
				2,847,384
Government National Mortgage Association -- 3.2%
	1,615,000	REMIC Series 2002-13, Class KC, 6.000%, 7/16/30		1,657,959
Total U.S. Government Agencies (Cost $14,093,203)				14,023,478
Common Stocks -- 12.9%
Real Estate Investment Trusts -- 12.9%
	4,000	Alexandria Real Estate Equities, Inc.		227,120
	4,000	Boston Properties, Inc.		200,320
	8,500	Brandywine Realty Trust		231,115
	3,500	Camden Property Trust		160,300
	1,089	Catellus Development Corp.		26,844
	3,500	CBL & Associates Properties, Inc.		192,500
	2,500	CenterPoint Properties Corp.		191,875
	3,000	Correctional Properties Trust		87,750
	5,000	Developers Diversified Realty Corp.		176,850
	6,000	Duke Realty Corp.		190,860
	4,000	Equity Office Properties Trust		108,800
	6,000	Equity Residential Properties Trust		178,380
	3,500	Essex Property Trust, Inc.		239,225
	3,500	Gables Residential Trust		118,930
	4,500	General Growth Properties		133,065
	1,000	Getty Realty Corp.		25,160
	6,000	Health Care Property Investors, Inc.		144,240
	6,000	Healthcare Realty Trust, Inc.		224,880
	5,000	Heritage Property Investment		135,300
	4,500	Home Properties, Inc.		175,410
	5,500	Hospitality Properties Trust		232,650
	5,000	Keystone Property Trust		120,150
	4,500	Kimco Realty Corp.		204,750
	2,500	Kramont Realty Trust		40,000
	4,500	Mack-Cali Realty Corp.		186,210
	4,500	Mills Corp.		210,150
	3,000	Parkway Properties, Inc.		133,350
	5,000	Pennsylvania Real Estate Investment Trust		171,250
	6,000	Prologis Trust		197,520
	5,000	Public Storage, Inc.		230,050
	2,500	Regency Centers Corp.		107,250
	3,500	Rouse Co.		166,250
	1,500	Shurgard Storage Centers, Inc., Class A		56,100
	4,000	Simon Property Group, Inc.		205,680
	4,500	SL Green Realty Corp.		210,600
	2,500	The Macerich Co.		119,675
	7,000	United Dominion Realty Trust, Inc.		138,460
	7,000	Ventas, Inc.		163,450
	4,500	Vornado Realty Trust		256,995
	6,000	Washington Real Estate Investment Trust		176,280
	7,000	Weingarten Realty Investors		218,960
Total Common Stocks (Cost $4,773,453)				6,714,704
Cash Equivalent -- 2.1%
$	1,099,671	Huntington Money Market Fund, Interfund Class*	$	1,099,671
Total Cash Equivalent (Cost $1,099,671)				1,099,671
Total Investments (Cost $50,340,964) (a) -- 99.6%				51,862,475
Other Assets in Excess of Liabilities -- 0.4%				205,958
NET ASSETS -- 100.0%			$	52,068,433

(a) Represents cost for financial reporting purposes and differs from value by net unrealized appreciation (depreciation) of securities as follows:

Unrealized appreciation	$ 2,206,936
Unrealized depreciation	(685,425	)
Net unrealized appreciation (depreciation)	$1,521,511

Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington Ohio Tax-Free Fund

June 30, 2004 (Unaudited)

Principal Amount			Value
Municipal Bonds -- 99.9%
Ohio -- 99.9%
$	750,000	Akron, OH, GO, 6.500%, 11/1/14	$	901,335
	500,000	Akron, OH, GO, Series 2, 5.300%, 12/1/11		533,750
	300,000	Aurora, OH, City School District, GO, (FGIC Ins), 5.500%, 12/1/07		320,934
	375,000	Avon Lake, OH, Water System Revenue, Series A, (AMBAC Ins), 5.500%, 10/1/15		406,789
	500,000	Bay Village, OH, City School District, GO, 5.250%, 12/1/16		533,770
	500,000	Butler County, OH, GO, (AMBAC Ins), 5.000%, 12/1/12		530,275
	100,000	Butler County, OH, Public Improvements, GO, (AMBAC Ins), 5.450%, 12/1/16		107,170
	200,000	Butler County, OH, Transportation Improvement, Series A, 5.125%, 4/1/17		210,580
	1,020,000	Canton, OH, School District, GO, (MBIA Ins), 5.350%, 12/1/15		1,098,182
	500,000	Chagrin Falls, OH, Exempt Village School District, Series 2, 5.100%, 12/1/10		534,370
	260,000	Chagrin Falls, OH, Exempt Village School District, Series 2, GO, 5.000%, 12/1/09		276,349
	75,000	Cincinnati, OH, City School District, GO, (MBIA Ins), 5.000%, 12/1/08		80,759
	150,000	Cincinnati, OH, Public Improvements, GO, 5.000%, 12/1/12		159,689
	525,000	Cincinnati, OH, Public Improvements, GO, 5.000%, 12/1/15		548,887
	150,000	Cincinnati, OH, Water System Revenue, 5.500%, 12/1/12		165,642
	100,000	Clark County, OH, GO, 6.000%, 12/1/15		109,594
	205,000	Clermont County, OH, Refunding Revenue, Mercy Health System, Series B, (AMBAC Ins), 5.625%, 9/1/16		219,836
	240,000	Cleveland, OH, Parking Facilities Refunding Revenue, (MBIA Ins), 5.375%, 9/15/12		258,410
	250,000	Cleveland, OH, Public Improvements Refunding, GO, (MBIA Ins), 5.500%, 8/1/05		259,968
	180,000	Cleveland, OH, Public Power System Refunding Revenue, Series 1, (MBIA Ins), 5.250%, 11/15/16		191,801
	200,000	Cleveland, OH, Refunding Public Improvements, GO, (MBIA Ins), 5.500%, 8/1/09		218,266
	340,000	Cleveland, OH, Waterworks Refunding Revenue, (FSA Ins), 5.000%, 1/1/07		359,438
	200,000	Cleveland, OH, Waterworks Refunding Revenue, Series I, (FSA Ins), 5.250%, 1/1/11		216,938
	1,600,000	Cleveland, OH, Waterworks Refunding Revenue, Series I, (FSA Ins), 5.250%, 1/1/12		1,736,607
	990,000	Cleveland, OH, Waterworks Refunding Revenue, Series I, (FSA Ins), 5.250%, 1/1/13		1,069,051
	1,250,000	Cleveland, OH, Waterworks Refunding Revenue, Series I, (FSA Ins), 5.000%, 1/1/16		1,314,937
	115,000	Cleveland, OH, Waterworks Refunding Revenue, Series I, (FSA Ins), 5.000%, 1/1/17		119,405
	100,000	Columbus State Community College, University & College Improvements Revenue, (AMBAC Ins), 5.500%, 12/1/10		108,863
	350,000	Columbus, OH, 5.750%, 6/15/09		387,807
	160,000	Columbus, OH, GO, Series 1, 5.500%, 11/15/09		177,117
	600,000	Columbus, OH, Police/Fireman Disability, GO, 5.000%, 7/15/13		635,886
	2,000,000	Columbus, OH, Public Improvement, GO, Series 2, 5.000%, 6/15/12		2,140,879
	560,000	Columbus, OH, Public Improvements, Series 1, GO, 5.000%, 6/15/12		591,555
	75,000	Columbus, OH, Sewer Refunding Revenue, 5.000%, 6/1/07		79,892
	80,400	Columbus, OH, Special Assessment, 5.700%, 7/15/06		85,587
	50,000	Columbus, OH, University & College Improvements Revenue, (AMBAC Ins), 6.000%, 12/1/08		55,183
	175,000	Columbus, OH, Water System Refunding Revenue, 5.000%, 11/1/07		187,404
	370,000	Cuyahoga County, OH, Correctional Facilities Improvements, GO, 5.000%, 12/1/17		382,628
	500,000	Cuyahoga County, OH, GO, 5.200%, 11/15/09		530,565
	100,000	Cuyahoga County, OH, Hospital Refunding Revenue, Series B, (MBIA Ins), 5.500%, 1/15/16		105,982
	500,000	Cuyahoga County, OH, Hospital Revenue, Walker Center, Series I, GO, 5.250%, 1/1/13		539,745
	200,000	Cuyahoga Falls, OH, GO, (MBIA Ins), 5.400%, 12/1/06		213,682
	500,000	Dayton, OH, GO, (MBIA Ins), 5.000%, 12/1/12		532,530
	65,000	Delaware County, OH, Sewer Improvements, GO, 5.250%, 12/1/15		68,678
	250,000	Dover, OH, Municipal Electric System, (FGIC Ins), 5.500%, 12/1/07		263,860
	205,000	Dublin, OH, Various Purposes, Series A, 6.000%, 12/1/15		230,650
	500,000	Euclid, OH, GO, 5.300%, 12/1/07		531,200
	500,000	Euclid, OH, GO, 5.450%, 12/1/08		532,230
	500,000	Euclid, OH, GO, 5.000%, 12/1/12		532,110
	205,000	Fairlawn, OH, GO, 5.750%, 12/1/13		210,256
	500,000	Findlay, OH, GO, 5.500%, 7/1/08		537,390
	305,000	Franklin County, OH, GO, 6.000%, 9/1/06		313,287
	500,000	Franklin County, OH, Hospital Facility Authority Refunding Revenue, 5.800%, 11/1/10		530,220
	125,000	Franklin County, OH, Public Improvements, GO, 5.500%, 12/1/14		134,106
	300,000	Greene County, OH, Water Systems Revenue, Series A, (FGIC Ins), 5.750%, 12/1/09		330,882
	250,000	Hamilton County, OH, Sewer Improvement Revenue, 5.000%, 12/1/14		262,665
	100,000	Hamilton County, OH, County Building Renovation, GO, 6.250%, 12/1/14		107,472
	125,000	Hamilton County, OH, GO, 5.500%, 12/1/08		137,464
	500,000	Hamilton County, OH, GO, 5.100%, 12/1/11		511,035
	1,795,000	Hamilton County, OH, GO, 5.250%, 12/1/15		1,923,916
	150,000	Hamilton County, OH, Sales Tax Revenue, Series B, (AMBAC Ins), 5.750%, 12/1/12		166,562
	250,000	Hancock County, OH, Public Improvements, GO, 5.450%, 12/1/17		268,778
	315,000	Hancock County, OH, Refunding & Improvement Revenue, GO, 5.200%, 12/1/08		331,393
	170,000	Hilliard, OH, GO, 5.350%, 12/1/06		178,928
	180,000	Hilliard, OH, GO, 5.500%, 12/1/07		190,109
	250,000	Hudson City, OH, GO, 5.000%, 12/1/14		266,078
	500,000	Kent State University, OH, Revenue, (MBIA Ins), 5.300%, 5/1/10		538,180
	200,000	Kettering, OH, City School District, GO, (FGIC Ins), 5.000%, 12/1/17		208,588
	310,000	Lakewood, OH, City School District, GO, (FGIC Ins), 4.900%, 12/1/15		326,067
	100,000	Lakewood, OH, Sewer Systems Refunding, GO, Series B, 5.550%, 12/1/08		106,583
	200,000	Lakota, OH, Local School District, GO, (AMBAC Ins), 7.000%, 12/1/08		230,810
	150,000	London, OH, City School District, GO, 5.500%, 12/1/14		164,201
	500,000	Lorain County, OH, Revenue, Catholic Healthcare Partners, Series B, (MBIA Ins), 6.000%, 9/1/08		552,285
	100,000	Lorain, OH, Water Authority Revenue, (AMBAC Ins), 5.100%, 10/1/09		108,611
	500,000	Lucas County, OH, GO, 5.400%, 12/1/15		531,885
	50,000	Lucas County, OH, GO, (AMBAC Ins), 5.375%, 12/1/11		52,906
	205,000	Lucas County, OH, Juvenile Justice, GO, (FGIC Ins), 5.750%, 11/15/11		221,605
	500,000	Mahoning County, OH, Sewer Systems, Refunding Revenue, (AMBAC Ins), 5.200%, 12/1/14		534,785
	100,000	Mansfield, OH, City School District, GO, (MBIA Ins), 5.350%, 12/1/14		107,069
	500,000	Mason, OH, City School District, GO, 5.150%, 12/1/12		540,200
	175,000	Medina, OH, City School District, GO, (FGIC Ins), 4.850%, 12/1/10		186,048
	300,000	Mentor, OH, Public Improvements, GO, 5.250%, 12/1/10		324,696
	250,000	Miami County, OH, GO, 4.875%, 12/1/10		265,538
	200,000	Middleburg Heights, OH, Hospital Refunding Revenue, Southwest General Health Center, 5.625%, 8/15/15		215,318
	500,000	Montgomery County, OH, GO, 5.400%, 12/1/11		541,670
	250,000	Montgomery County, OH, Public Improvements, GO, 5.300%, 12/1/06		266,823
	100,000	Montgomery County, OH, Public Improvements, GO, 5.500%, 12/1/11		111,252
	50,000	Montgomery County, OH, Public Improvements, GO, 5.500%, 12/1/13		55,027
	155,000	Montgomery County, OH, Solid Waste Revenue, (MBIA Ins), 6.000%, 11/1/05		163,091
	100,000	Montgomery County, OH, Solid Waste Revenue, (MBIA Ins), 5.500%, 11/1/10		106,317
	100,000	Muskingum County, OH, Hospital Facilities Refunding Revenue, Bethesda Hospital Association, (Connie Lee Ins), 5.400%, 12/1/16		105,747
	250,000	Muskingum County, OH, Refunding & Improvement Revenue, Bethesda Care System, (Connie Lee Ins), 5.350%, 12/1/07		270,238
	100,000	North Olmsted, OH, Public Improvements Refunding, GO, (FGIC Ins), 5.250%,12/1/11		109,113
	100,000	North Olmsted, OH, Public Improvements Refunding, GO, (FGIC Ins), 5.500%, 12/1/12		109,453
	100,000	North Olmsted, OH, Public Improvements, GO, (AMBAC Ins), 5.000%, 12/1/16		104,705
	400,000	Northeast, OH, Regional Sewer District Revenue, 5.500%, 11/15/12		421,884
	235,000	Norwalk, OH, Refunding, GO, 5.550%, 4/1/09		251,344
	250,000	Norwalk, OH, Refunding, GO, 5.600%, 4/1/10		267,598
	300,000	Norwalk, OH, Refunding, GO, 5.900%, 4/1/15		322,530
	1,020,000	Ohio State Building Authority Facilities Revenue, Administraion Building, Series A, 5.375%, 10/1/14		1,108,892
	1,500,000	Ohio State Building Authority Facilities Revenue, Administration Building, Series A, 5.250%, 10/1/11		1,640,429
	420,000	Ohio State Building Authority Facilities Revenue, Administration Building, Series A, 5.375%, 10/1/12		462,454
	75,000	Ohio State Building Authority Sports Facilities Revenue, 5.250%, 10/1/13		80,846
	70,000	Ohio State Building Authority Sports Facilities Revenue, (FSA Ins), 5.200%, 10/1/09		76,371
	300,000	Ohio State Building Authority Sports Facilities Revenue, (FSA Ins), 5.375%, 10/1/11		326,568
	150,000	Ohio State Building Authority State Facilities Refunding Revenue, Adult Correctional, Series A, (FSA Ins), 5.000%, 10/1/05		155,706
	50,000	Ohio State Building Authority State Facilities Revenue, Administration Building, Series A, 4.875%, 10/1/09		52,814
	300,000	Ohio State Building Authority State Facilities Revenue, Administration Building, Series A, 5.375%, 10/1/13		330,171
	400,000	Ohio State Building Authority State Facilities Revenue, Adult Correctional, Series A, 5.500%, 10/1/09		441,884
	135,000	Ohio State Building Authority State Facilities Revenue, Adult Correctional, Series A, 5.500%, 10/1/15		146,668
	100,000	Ohio State Building Authority State Facilities Revenue, Highway Safety Building, Series A, 5.375%, 10/1/11		108,738
	300,000	Ohio State Building Authority State Facilities Revenue, Juvenile Correctional, 5.250%, 10/1/10		326,394
	500,000	Ohio State Building Authority State Facilities Revenue, Series A, (FSA Ins), 5.500%, 10/1/12		551,740
	200,000	Ohio State Building Authority State Facilities, Adult Correctional, Series A, 5.500%, 10/1/13		218,382
	200,000	Ohio State Higher Education Capital Facilities, GO, Series B, 5.625%, 5/1/15		224,202
	190,000	Ohio State Higher Education Capital Facilities, GO, Series II-A, 5.500%, 12/1/09		210,484
	1,000,000	Ohio State Higher Education Facilities Revenue, Case Western Reserve University, 5.000%, 10/1/11		1,065,489
	445,000	Ohio State Higher Education Facilities Revenue, Denison University Project, 5.400%, 11/1/11		482,193
	335,000	Ohio State Higher Education, Series A, 5.000%, 5/1/09		362,078
	300,000	Ohio State Higher Educational Facilities Revenue, Xavier University, (MBIA Ins), 5.350%, 5/15/12		325,191
	400,000	Ohio State Infrastructure Improvement Refunding, GO, Series R, 5.250%, 8/1/12		429,300
	250,000	Ohio State Mental Health Capital Facilities Revenue, Series II-A, 5.000%, 6/1/08		268,755
	810,000	Ohio State Natural Resources Capital Facilities, GO, 4.800%, 4/1/10		844,683
	2,040,000	Ohio State Public Facilities Commission Refunding Revenue, Series II-A, (MBIA Ins), 5.000%, 12/1/11		2,179,168
	100,000	Ohio State Public Facilities Commission Revenue, Higher Education Capital Facilities, Series II-A, 4.500%, 11/1/09		105,781
	175,000	Ohio State Public Facilities Commission Revenue, Higher Education Capital Facilities, Series II-A, 5.000%, 11/1/12		186,296
	100,000	Ohio State Public Facilities Commission Revenue, Mental Health, (MBIA Ins), 4.500%, 12/1/06		103,651
	100,000	Ohio State Turnpike Commission Revenue, Series B, (FGIC Ins), 5.250%, 2/15/12		108,301
	500,000	Ohio State University General Receipts Revenue, Series A, 5.100%, 12/1/10		542,830
	100,000	Ohio State University General Receipts Revenue, Series A, 5.125%, 12/1/11		108,483
	900,000	Ohio State Water Development Authority Pollution Control Facilities Revenue, (MBIA Ins), 5.000%, 12/1/14		945,594
	1,000,000	Ohio State Water Development Authority Pollution Control Facilities Revenue, (MBIA Ins), 5.000%, 6/1/15		1,049,340
	170,000	Ohio State Water Development Authority Revenue, (AMBAC Ins), 6.000%, 12/1/08		172,134
	200,000	Ohio State Water Development Authority Revenue, (FSA Ins), 5.250%, 12/1/11		216,844
	100,000	Ohio State Water Development Authority Revenue, (MBIA Ins), 5.000%, 12/1/09		108,068
	150,000	Ohio State Water Development Authority Revenue, Fresh Water Series, (FSA Ins), 5.250%, 12/1/10		163,152
	745,000	Ohio State Water Development Authority Revenue, Public Improvements, (FSA Ins), 5.000%, 6/1/14		784,105
	115,000	Ohio State Water Development Authority, Polution Control Facilities Revenue, Water Quality Series, (MBIA Ins), 5.500%, 6/1/12		124,803
	975,000	Ohio State Water Development Authority, Sewer System Improvements Revenue, (FSA Ins), 5.000%, 6/1/15		1,022,911
	250,000	Plain, OH, Local School District, GO, (FGIC Ins), 5.700%, 12/1/14		278,763
	55,000	Portage County, OH, Hospital Revenue, 5.800%, 11/15/15		58,578
	500,000	Rocky River, OH, City School District, GO, 5.150%, 12/1/08		542,315
	500,000	Solon, OH, GO, 5.250%, 12/1/07		527,075
	500,000	Springboro, OH, GO, 5.250%, 12/1/16		532,875
	250,000	Stow, OH, Public Improvements, GO, (MBIA Ins), 6.150%, 12/1/15		265,993
	55,000	Strongsville, OH, GO, 6.700%, 12/1/11		61,279
	250,000	Summit County, OH, Public Improvements, Series A, (FGIC Ins), 5.000%, 12/1/12		266,803
	235,000	Swanton, OH, Local School Disctrict, School Improvement, GO, (FGIC Ins), 4.900%, 12/1/15		246,073
	500,000	Teays Valley, OH, Local School District, School Facilities Construction & Improvement, GO, (FGIC Ins), 5.150%, 12/1/14		529,525
	315,000	Toledo, OH, Sewer System Revenue, 5.250%, 11/15/13		343,624
	500,000	Troy, OH, Capital Facilities, GO, 6.250%, 12/1/11		557,950
	350,000	Trumbull County, OH, Public Improvements Refunding, GO, (MBIA Ins), 5.125%, 12/1/13		381,437
	550,000	Twinsburg, OH, Local School District, GO, (FGIC Ins), 5.400%, 12/1/09		599,627
	100,000	University of Akron, OH, General Receipts Revenue, (AMBAC Ins), 5.125%, 1/1/11		105,474
	100,000	University of Cincinati, OH, General Receipts Revenue, Series W, 5.650%, 6/1/11		106,672
	500,000	University of Cincinnati, OH, Certificate Participation, University Center Project, (MBIA Ins), 5.100%, 6/1/11		545,795
	250,000	University of Cincinnati, OH, General Receipts Revenue, Series V, 5.250%, 6/1/08		259,868
	265,000	University of Cincinnati, OH, General Receipts Revenue, Series V, 5.350%, 6/1/09		275,695
	300,000	University of Cincinnati, OH, General Receipts Revenue, Series Z, 5.000%, 6/1/17		316,896
	500,000	Vandalia, OH, Various Purpose Improvement Revenue, GO, 5.450%, 12/1/10		537,550
	175,000	Warren County, OH, Sewer Improvement, P&G Co./Lower Miami, GO, 5.250%, 12/1/08		184,102
	185,000	Warren County, OH, Sewer Improvement, P&G Co./Lower Miami, GO, 5.350%, 12/1/09		194,875
	400,000	Warren County, OH, Water Improvement, The P&G Project, GO, 5.250%, 12/1/07		420,804
	500,000	Wauseon Village, OH, School District, GO, 5.450%, 12/1/14		538,965
	100,000	West Clermont, OH, Local School District, GO, (AMBAC Ins), 6.900%, 12/1/12		108,908
	100,000	West Holmes, OH, Local School District, GO, (MBIA Ins), 5.100%, 12/1/11		106,337
	500,000	Westlake, OH, City School District, GO, Series A, 5.500%, 12/1/10		549,430
	500,000	Westlake, OH, Refunding & Improvement, GO, 5.350%, 12/1/10		547,960
	165,000	Whitehall, OH, Public Improvements, GO, (AMBAC Ins), 4.950%, 12/1/10		175,771
	100,000	Worthington, OH, City School District Refunding, GO, (FGIC Ins), 5.000%, 12/1/09		107,779
	100,000	Youngstown, OH, GO, (MBIA Ins), 6.125%, 12/1/14		103,836
Total Municipal Bonds -- (Cost $63,134,035)				64,760,000
Cash Equivalent -- 0.0%
	7,550	Fidelity Institutional Tax-Exempt Fund		7,550
Total Cash Equivalent (Cost $7,550)				7,550
Total Investments (Cost $63,141,585) (a) -- 99.9%				64,767,550
Other Assets in Excess of Liabilities -- 0.1%				87,957
Net Assets -- 100.0%			$	64,855,507

(a) Represents cost for financial reporting purposes and differs from value by net unrealized appreciation (depreciation) of securities as follows:

Unrealized appreciation	$2,039,593
Unrealized depreciation	(413,628	)
Net unrealized appreciation (depreciation)	$1,625,965

Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

Huntington Short/Intermediate Fixed Income Securities Fund

June 30, 2004 (Unaudited)

Principal Amount			Value
Corporate Bonds -- 69.9%
Agricultural Services -- 1.2%
$	2,000,000	Monsanto Co., 4.000%, 5/15/08	$	1,978,506
Aircraft -- 0.7%
	1,000,000	Boeing Capital Corp., 7.100%, 9/27/05		1,055,991
Banks -- 2.5%
	2,000,000	Compass Bancshares, Inc., 8.375%, 9/15/04		2,022,920
	2,000,000	KeyCorp, 3.050%, 11/22/06		1,983,612
				4,006,532
Bottled & Canned Soft Drinks -- 1.9%
	3,000,000	PepsiAmericas, Inc., 3.875%, 9/12/07		3,024,252
Building & Construction Products -- 1.3%
	2,000,000	Masco Corp., 6.750%, 3/15/06		2,120,794
Chemicals -- 1.9%
	3,000,000	Chevron Phillips Chemical Co., 5.375%, 6/15/07		3,123,945
Computers -- 1.3%
	2,000,000	Hewlett Packard Co., 7.150%, 6/15/05		2,085,692
Consumer Products -- 3.4%
	2,000,000	Costco Wholesale Corp., 5.500%, 3/15/07		2,101,064
	1,500,000	Fortune Brands, Inc., 2.875%, 12/1/06		1,484,169
	2,000,000	General Mills, Inc., 2.625%, 10/24/06		1,956,872
				5,542,105
Credit Reporting Services -- 1.3%
	2,000,000	Dun & Bradstreet Corp., 6.625%, 3/15/06		2,090,722
Cruise Lines -- 0.6%
	1,000,000	Carnival Corp., 7.700%, 7/15/04		1,001,375
Electrical Services -- 5.7%
	1,000,000	Alabama Power Co., 3.125%, 5/1/08		968,256
	1,000,000	Baltimore Gas & Electric, 5.250%, 12/15/06		1,039,403
	1,000,000	Commonwealth Edison, 6.400%, 10/15/05		1,044,343
	1,000,000	Indiana Michigan Power, 6.875%, 7/1/04		1,000,000
	1,000,000	Ohio Power Co., (Series B), Sr. Note, 6.750%, 7/1/04		1,000,000
	3,000,000	Virginia Electric & Power, 5.750%, 3/31/06		3,130,512
	1,000,000	Wisconsin Energy, 5.875%, 4/1/06		1,047,051
				9,229,565
Financial Services -- 15.1%
	3,000,000	AIG International Lease Finance Corp., 4.500%, 5/1/08		3,049,131
	2,000,000	Bear Stearns Co., 3.000%, 3/30/06		1,998,076
	2,000,000	Citi Group, Inc., 4.125%, 2/21/06		2,034,236
	3,000,000	Countrywide Home Loan, 3.250%, 5/21/08		2,885,847
	1,000,000	Ford Motor Credit Co., 6.500%, 1/25/07		1,050,727
	1,000,000	General Motors Acceptance Corp., 6.750%, 1/15/06		1,047,851
	2,000,000	General Motors Acceptance Corp., 6.125%, 8/28/07		2,086,914
	3,000,000	Household Finance Corp., 4.625%, 1/15/08		3,053,883
	2,000,000	MBIA Global Funding LLC, 2.875%, 11/30/06		1,968,530
	1,500,000	Merrill Lynch & Co., 6.550%, 8/1/04		1,505,280
	2,000,000	Morgan Stanley, 3.875%, 1/15/09		1,947,218
	2,000,000	Textron Financial Corp., 2.190%, 2/11/05		2,010,454
				24,638,147
Grocery Stores -- 0.6%
	1,000,000	Safeway, Inc., 4.800%, 7/16/07		1,022,180
Insurance -- 3.0%
	1,495,000	Harman International Industries, Inc., 7.125%, 2/15/07		1,611,997
	2,100,000	Metlife, Inc., 5.250%, 12/1/06		2,177,736
	1,000,000	Prudential Financial, 6.375%, 7/23/06		1,061,481
				4,851,214
Miscellaneous Business Services -- 2.6%
	2,000,000	Computer Science Corp., 6.750%, 6/15/06		2,131,726
	2,000,000	Rockwell International Corp., 6.150%, 1/15/08		2,144,612
				4,276,338
Motion Picture & Video Production -- 0.7%
	1,000,000	Viacom, Inc., 5.625%, 5/1/07		1,050,393
Oil & Gas Exploration Services -- 1.3%
	2,000,000	Burlington Resources, Inc., 5.600%, 12/1/06		2,096,622
Petroleum Refining -- 2.5%
	2,000,000	Anadarko Petroleum Corp., 3.250%, 5/1/08		1,951,096
	2,000,000	Marathon Oil, 5.375%, 6/1/07		2,089,010
				4,040,106
Printing & Publishing -- 1.3%
	1,000,000	Knight-Ridder, Inc., 6.300%, 12/15/05		1,049,157
	1,000,000	Reed Elsevier Capital, 7.000%, 5/15/05		1,037,820
				2,086,977
Pulp Mills -- 0.6%
	900,000	Weyerhaeuser Co., 5.500%, 3/15/05		919,032
Radio Broadcasting -- 1.9%
	3,000,000	Clear Channel Communications, 4.625%, 1/15/08		3,031,641
Railroad Transportation -- 1.3%
	2,000,000	Union Pacific Corp., 6.400%, 2/1/06		2,101,382
Real Estate Investment Trusts -- 3.8%
	2,000,000	Amb Property L.P., 7.200%, 12/15/05		2,129,152
	2,000,000	Archstone-Smith Trust, 3.000%, 6/15/08		1,901,190
	2,000,000	HRPT Properties, 6.700%, 2/23/05		2,050,976
				6,081,318
Residential Building Construction -- 1.9%
	3,000,000	Centex Corp., 4.750%, 1/15/08		3,057,171
Retail -- 3.9%
	3,000,000	CVS Corp., 3.875%, 11/1/07		3,002,352
	3,000,000	Tandy Corp., 6.950%, 9/1/07		3,265,548
				6,267,900
Surgical & Medical Instruments -- 0.7%
	1,000,000	Baxter International, Inc., 7.125%, 2/1/07		1,081,841
Telephone Communication -- 5.3%
	1,000,000	Bell Atlantic Financial, 7.600%, 3/15/07		1,101,909
	3,000,000	Cingular Wireless, 5.625%, 12/15/06		3,136,296
	3,000,000	Cox Communications, Inc., 7.750%, 8/15/06		3,260,325
	1,000,000	GTE North Inc., 5.650%, 11/15/08		1,044,629
				8,543,159
Wholesale Distribution -- 1.6%
	1,000,000	Cardinal Health Inc., Sr. Note, 4.450%, 6/30/05		1,012,881
	1,600,000	Con Agra, Inc., 7.400%, 9/15/04		1,615,619
				2,628,500
Total Corporate Bonds (Cost $113,694,025)				113,033,400
U.S. Government Agencies -- 27.6%
Federal Farm Credit Bank -- 1.2%
	2,000,000	1.350%, 3/18/05		1,991,810
Federal Home Loan Bank -- 7.9%
	2,000,000	1.450%, 7/22/05		1,982,288
	6,500,000	6.875%, 8/15/05		6,831,065
	1,000,000	2.830%, 6/26/08		960,995
	2,000,000	3.875%, 8/22/08		1,983,404
	1,000,000	3.500%, 12/26/08		975,775
				12,733,527
Federal Home Loan Mortgage Corporation -- 13.6%
	2,000,000	2.325%, 8/26/05		1,998,272
	5,000,000	5.250%, 1/15/06		5,186,685
	3,000,000	2.000%, 6/9/06		2,943,783
$	2,000,000	3.125%, 8/25/06		1,993,174
	2,000,000	2.750%, 1/30/07		1,972,932
	2,000,000	3.000%, 3/29/07		1,954,494
	1,000,000	4.260%, 7/19/07		1,019,213
	3,000,000	3.500%, 4/1/08		2,953,731
	2,000,000	3.650%, 5/7/08		1,985,730
				22,008,014
Federal National Mortgage Association -- 4.9%
	2,000,000	2.650%, 2/23/07		1,963,694
	2,000,000	3.050%, 4/20/07		1,978,478
	2,000,000	3.750%, 5/17/07		1,998,782
	2,000,000	3.625%, 3/16/09		1,954,664
				7,895,618
Total U.S. Government Agencies (Cost $44,613,673)				44,628,969
Cash Equivalent -- 1.5%
	2,371,720	Huntington Money Market Fund, Interfund Class*		2,371,720
Total Cash Equivalent (Cost $2,371,720)				2,371,720
Total Investments (Cost $160,679,418) (a) -- 99.0%				160,034,089
Other Assets in Excess of Liabilities -- 1.0%				1,564,072
Net Assets -- 100.0%			$	161,598,161

(a) Represents cost for financial reporting purposes and differs from value by net unrealized appreciation (depreciation) of securities as follows:

Unrealized appreciation	$	1,224,183
Unrealized depreciation		(1,869,512	)
Net unrealized appreciation (depreciation)	$	(645,329	)

Aggregate cost for federal income tax purposes is substantially the same.

See Notes to Portfolio of Investments, page 39.

(See notes which are an integral part of the Financial Statements)

(b) Non-income producing security.

(c) All or part of the security was on loan as of June 30, 2004.

* Affiliated

** Variable Rate Demand Notes--rates disclosed in effect at June 30, 2004.

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	GO -- Government Obligation
AMBAC -- American Municipal Bond Assurance Corporation	LOC -- Letter of Credit
AMEX -- American Stock Exchange	MBIA -- Municipal Bond Insurance Association
BAN -- Bond Anticipation Notes	MSCI -- Morgan Stanley Capital International
EAFE -- Europe Australasia Far East	REMIC -- Real Estate Mortgage Investment Conduit
EMU -- European Monetary Union	S&P -- Standard & Poor's
FGIC -- Financial Guaranty Insurance Corporation	SPDR -- Standard & Poor's Depository Receipt
FNMA -- Federal National Mortgage Association
FSA -- Financial Security Assurance

(See notes which are an integral part of the Financial Statements)

Statements of Assets and Liabilities

June 30, 2004 (Unaudited)

	Huntington Florida Tax-Free Money Fund			Huntington Money Market Fund			Huntington Ohio Municipal Money Market Fund
Assets:
Investments, at value	$	24,188,128		$	616,901,042		$	163,705,294
Investments in affiliated securities, at value		--			--			--
Total Investments		24,188,128			616,901,042			163,705,294
Investments in repurchase agreements, at cost		--			43,163,400			--
Cash		--			55			--
Foreign currencies, at value (cost $0; $0; $0; $0; $0; $0; $0; $1,122,464 and $0)		--			--			--
Income receivable		100,187			808,445			511,333
Receivable for investments sold		--			--			--
Receivable for shares sold		--			--			--
Tax reclaims receivable		--			--			--
Prepaid expenses and other assets		5,628			25,293			7,009
Total assets		24,293,943			660,898,235			164,223,636
Liabilities:
Options written, at value (premiums received $0; $0; $0; $0; $0; $0; $515,737; $0 and $0)		--			--			--
Cash overdraft		--			--			--
Income distribution payable		4,138			138,337			30,036
Payable for investments purchased		--			--			--
Payable for shares redeemed		--			--			--
Accrued expenses and other payables
Investment adviser fees		6,178			159,457			40,680
Administration fees		1,544			41,690			10,170
Sub-Administration fees		1,236			33,351			8,136
Custodian fees		535			14,453			3,526
Portfolio accounting fees		2,166			30,908			8,745
Distribution fees		1,054			149,630			42,453
Other		4,285			117,005			28,155
Total liabilities		21,136			684,831			171,901
Net Assets	$	24,272,807		$	660,213,404		$	164,051,735
Net Assets Consist of:
Paid in capital	$	24,273,533		$	660,706,083		$	164,028,747
Net unrealized appreciation (depreciation) of investments, options and translation of assets and liablilities in foreign currency		--			--			--
Accumulated net realized gain (loss) on investments, options and foreign currency transactions		(728	)		(492,678	)		(4,405	)
Accumulated net investment income (loss)		2			(1	)		27,393
Total Net Assets	$	24,272,807		$	660,213,404		$	164,051,735
Trust Shares	$	16,957,302		$	396,613,901		$	72,529,054
Investment A Shares	$	7,315,505		$	235,895,881		$	91,522,681
Investment B Shares	$	--		$	58,408		$	--
Interfund Shares	$	--		$	27,645,214		$	--
Shares Outstanding:
Trust Shares		16,956,116			397,106,940			72,518,194
Investment A Shares		7,316,147			235,878,225			91,503,082
Investment B Shares		--			58,610			--
Interfund Shares		--			27,667,798			--
Net Asset Value and Offering Price Per Share:
Net Asset Value Per Share
Trust Shares		$1.00			$1.00			$1.00
Investment A Shares		$1.00			$1.00			$1.00
Investment B Shares		--			$1.00			--
Interfund Shares		--			$1.00			--
Offering Price Per Share (100%/(100%--maximum sales charge) of net asset value adjusted to the nearest cent):
Trust Shares		$1.00			$1.00			$1.00
Investment A Shares		$1.00			$1.00			$1.00
Investment B Shares (1)		--			$1.00			--
Interfund Shares		--			$1.00			--
Maximum Sales Charge--Investment A Shares		--			--			--
Investments, at cost	$	24,188,128		$	616,901,042		$	163,705,294

(1) For Investment B Shares, the redemption price per share varies by length of time shares are held.

(See notes which are an integral part of the Financial Statements)

Huntington U.S. Treasury Money Market Fund		Huntington Dividend Capture Fund			Huntington Growth Fund			Huntington Income Equity Fund			Huntington International Equity Fund			Huntington Macro 100 Fund
$	314,609,342	$	83,387,109		$	258,420,581		$	211,824,547		$	99,641,335		$	11,534,166
	--		749,277			7,820,858			216,966			--			282,190
	314,609,342		84,136,386			266,241,439			212,041,513			99,641,335			11,816,356
	187,396,700		--			--			--			3,256,000			--
	30		--			--			--			874			14
	--		--			--			--			1,139,560			--
	18,592		294,837			329,176			569,677			143,615			9,208
	--		128,836			--			87,479			--			--
	--		2,739			7,758			3,815			--			15,979
	--		--			--			--			49,213			--
	5,908		10,227			13,372			13,546			9,934			35,436
	502,030,572		84,573,025			266,591,745			212,716,030			104,240,531			11,876,993
	--		--			--			479,270			--			--
	--		112,858			126,680			--			--			--
	97,850		--			--			--			--			--
	--		179,458			118,279			--			--			199,786
	--		2,055			25,820			13,449			--			--
	82,252		51,072			130,766			103,648			84,035			6,665
	30,845		5,107			16,346			12,956			6,303			666
	24,675		4,086			13,076			10,365			5,042			533
	10,693		1,771			5,667			4,492			6,071			231
	21,870		6,322			12,310			9,780			6,598			197
	104,312		40,429			67,830			56,600			22,041			2,470
	54,128		10,909			39,657			31,966			13,836			1,030
	426,625		414,067			556,431			722,526			143,926			211,578
$	501,603,947	$	84,158,958		$	266,035,314		$	211,993,504		$	104,096,605		$	11,665,415
$	501,560,171	$	78,188,441		$	145,176,024		$	152,449,657		$	90,769,337		$	11,097,029
	--		3,194,961			117,224,624			52,761,691			17,739,238			573,315
	2,123		2,738,678			3,661,058			6,750,049			(4,898,820	)		--
	41,653		36,878			(26,392	)		32,107			486,850			(4,929	)
$	501,603,947	$	84,158,958		$	266,035,314		$	211,993,504		$	104,096,605		$	11,665,415
$	459,983,548	$	61,284,243		$	248,276,689		$	199,332,616		$	102,893,256		$	11,025,883
$	41,620,399	$	8,448,798		$	11,773,077		$	4,322,343		$	673,598		$	328,350
	--	$	14,425,917		$	5,985,548		$	8,338,545		$	529,751		$	311,182
	--		--			--			--			--			--
	459,943,785		5,558,916			6,204,172			6,342,149			11,076,478			1,039,730
	41,618,815		766,430			297,460			137,480			72,862			30,994
	--		1,310,727			154,756			266,109			58,147			29,373
	--		--			--			--			--			--
	$1.00		$11.02			$40.02			$31.43			$9.29			$10.60
	$1.00		$11.02			$39.58			$31.44			$9.24			$10.59
	--		$11.01			$38.68			$31.34			$9.11			$10.59
	--		--			--			--			--			--
	$1.00		$11.02			$40.02			$31.43			$9.29			$10.60
	$1.00		$11.69			$41.99			$33.36			$9.80			$11.24
	--		$11.01			$38.68			$31.34			$9.11			$10.59
	--		--			--			--			--			--
	--		5.75	%		5.75	%		5.75	%		5.75	%		5.75	%
$	314,609,342	$	80,941,425		$	149,016,815		$	159,316,289		$	81,922,099		$	11,243,041

Statements of Assets and Liabilities

June 30, 2004 (Unaudited)

	Huntington Mid Corp America Fund			Huntington New Economy Fund			Huntington Rotating Markets Fund
Assets:
Investments, at value*	$	153,344,185		$	48,438,400		$	21,180,421
Investments in affiliated securities, at value		1,683,775			1,196,644			312,554
Total Investments		155,027,960			49,635,044			21,492,975
Cash		15,050			15,050			8
Foreign currencies, at value (cost $0; $0; $0; $1,751; $0; $0; $0; $0; $0 and $0)		--			--			--
Income receivable		133,581			18,889			37,578
Receivable for investments sold		--			--			--
Receivable for shares sold		9,226			4,379			355
Prepaid expenses and other assets		12,918			7,852			6,907
Total assets		155,198,735			49,681,214			21,537,823
Liabilities:
Options written, at value (premiums received $0; $0; $0; $66,445; $0; $0; $0; $0, $0 and $0)		--			--			--
Cash overdraft		--			--			--
Income distributions payable		--			--			--
Payable for investments purchased		--			--			--
Payable for shares redeemed		7,907			7,959			5,438
Payable for return of collateral received for securities on loan		6,822,700			784,500			--
Accrued expenses and other payables
Investment adviser fees		89,628			33,262			8,707
Administration fees		8,963			2,935			1,306
Sub-Administration fees		7,170			2,348			1,045
Custodian fees		3,107			1,017			453
Portfolio accounting fees		9,506			5,429			1,952
Distribution fees		40,008			13,184			4,923
Other		21,786			6,562			3,170
Total liabilities		7,010,775			857,196			26,994
Net Assets	$	148,187,960		$	48,824,018		$	21,510,829
Net Assets Consist of:
Paid in capital	$	117,550,818		$	39,181,282		$	20,938,430
Net unrealized appreciation (depreciation) of investments, options and translation of assets and liablilities in foreign currency		32,353,892			10,083,498			2,592,610
Accumulated net realized gain (loss) on investments, options and foreign currency transactions		(1,525,404	)		(192,053	)		(1,952,498	)
Accumulated net investment income (loss)		(191,346	)		(248,709	)		(67,713	)
Total Net Assets	$	148,187,960		$	48,824,018		$	21,510,829
Trust Shares	$	138,696,112		$	45,205,777		$	20,067,620
Investment A Shares	$	2,997,256		$	1,568,122		$	1,443,209
Investment B Shares	$	6,494,592		$	2,050,119		$	--
Shares Outstanding:
Trust Shares		10,934,803			3,591,673			2,087,925
Investment A Shares		238,506			125,465			151,105
Investment B Shares		524,826			166,955			--
Net Asset Value and Offering Price Per Share:
Net Asset Value Per Share
Trust Shares		$12.68			$12.59			$9.61
Investment A Shares		$12.57			$12.50			$9.55
Investment B Shares		$12.37			$12.28			--
Offering Price Per Share (100%/(100%--maximum sales charge) of net asset value adjusted to the nearest cent):
Trust Shares		$12.68			$12.59			$9.61
Investment A Shares		$13.34			$13.26			$10.13
Investment B Shares (1)		$12.37			$12.28			--
Maximum Sales Charge--Investment A Shares		5.75	%		5.75	%		1.50	%
Investments, at cost	$	122,674,068		$	39,551,546		$	18,900,365

* Includes securities on loan of $6,680,550; $768,540; $0; $1,892,555; $10,721,286; $0; $0; $0; $0 and $0.

(1) For Investment B Shares, the redemption price per share varies by length of time shares are held.

(See notes which are an integral part of the Financial Statements)

Huntington Situs Small Cap Fund			Huntington Fixed Income Securities Fund			Huntington Intermediate Government Income Fund			Huntington Michigan Tax-Free Fund			Huntington Mortgage Securities Fund			Huntington Ohio Tax-Free Fund			Huntington Short/Intermediate Fixed Income Securities Fund
$	42,046,383		$	168,797,921		$	83,563,189		$	29,606,428		$	50,762,804		$	64,767,550		$	157,662,369
	310,016			5,177,722			1,753,081			--			1,099,671			--			2,371,720
	42,356,399			173,975,643			85,316,270			29,606,428			51,862,475			64,767,550			160,034,089
	6,450			--			--			--			16,875			--			--
	1,746			--			--			--			--			--			--
	27,343			2,535,940			757,707			319,414			230,331			529,349			2,049,753
	49,469			--			--			--			--			--			--
	4,159			--			--			--			--			--			--
	1,565			10,021			9,390			7,725			10,550			10,575			9,127
	42,447,131			176,521,604			86,083,367			29,933,567			52,120,231			65,307,474			162,092,969
	73,900			--			--			--			--			--			--
	--			2,015			--			--			--			--			--
	--			492,651			254,543			59,707			--			142,583			339,434
	--			--			--			--			--			--			--
	33			45,407			487			350			67			241,804			205
	1,937,250			10,972,750			--			--			--			--			--
	24,001			67,493			34,733			12,814			21,151			26,733			66,373
	2,400			10,124			5,210			1,839			3,173			4,010			9,956
	1,920			8,099			4,168			1,471			2,538			3,208			7,964
	832			3,510			1,806			638			1,100			1,390			3,451
	4,431			8,645			5,038			2,055			4,123			3,843			7,300
	9,809			39,388			20,007			9,810			11,614			18,196			35,510
	12,045			25,907			13,889			4,844			8,032			10,200			24,615
	2,066,621			11,675,989			339,881			93,528			51,798			451,967			494,808
$	40,380,510		$	164,845,615		$	85,743,486		$	29,840,039		$	52,068,433		$	64,855,507		$	161,598,161
$	29,063,593		$	162,473,178		$	85,606,099		$	29,252,651		$	52,242,018		$	63,205,252		$	163,791,300
	10,693,804			2,528,903			175,525			507,399			1,521,511			1,625,965			(645,329	)
	723,687			(129,275	)		28,980			69,064			(1,922,750	)		24,293			(1,546,751	)
	(100,574	)		(27,191	)		(67,118	)		10,925			227,654			(3	)		(1,059	)
$	40,380,510		$	164,845,615		$	85,743,486		$	29,840,039		$	52,068,433		$	64,855,507		$	161,598,161
$	38,373,364		$	159,147,679		$	80,379,344		$	22,928,211		$	50,470,252		$	57,918,457		$	156,359,746
$	866,887		$	2,488,568		$	4,914,840		$	6,143,315		$	1,198,991		$	5,251,607		$	5,238,415
$	1,140,259		$	3,209,368		$	449,302		$	768,513		$	399,190		$	1,685,443		$	--
	2,502,361			7,588,414			7,734,495			2,145,352			5,755,453			2,707,245			7,993,991
	56,761			118,680			473,038			574,797			136,046			245,612			267,756
	75,341			153,255			43,217			71,942			45,503			78,827			--
	$15.33			$20.97			$10.39			$10.69			$8.77			$21.39			$19.56
	$15.27			$20.97			$10.39			$10.69			$8.81			$21.38			$19.56
	$15.13			$20.94			$10.40			$10.68			$8.77			$21.38			--
	$15.33			$20.97			$10.39			$10.69			$8.77			$21.39			$19.56
	$16.20			$22.02			$10.91			$11.22			$9.25			$22.45			$19.86
	$15.13			$20.94			$10.40			$10.68			$8.77			$21.38			--
	5.75	%		4.75	%		4.75	%		4.75	%		4.75	%		4.75	%		4.75	%
$	31,655,178		$	171,446,740		$	85,140,745		$	29,099,029		$	50,340,964		$	63,141,585		$	160,679,418

Statements of Operations

Six Months Ended June 30, 2004 (Unaudited)

	Huntington Florida Tax-Free Money Fund			Huntington Money Market Fund			Huntington Ohio Municipal Money Market Fund
Investment Income:
Dividend Income	$	2,015		$	28,728		$	10,734
Dividend Income from affiliates		--			--			--
Interest Income		122,183			3,486,534			893,287
Income from securities lending		--			--			--
Total investment income		124,198			3,515,262			904,021
Expenses:
Investment adviser fees		36,021			966,879			255,273
Administration fees		9,052			252,772			63,819
Sub-Administration fees		7,241			202,210			51,054
Custodian fees		3,138			87,629			22,124
Transfer and dividend disbursing agent fees and expenses		3,722			105,486			26,627
Directors' fees		403			10,836			2,825
Auditing fees		1,569			43,481			11,806
Legal fees		927			25,969			6,838
Portfolio accounting fees		11,644			161,044			44,652
Distribution services fee--Investment A Shares		8,823			311,437			117,264
Distribution services fee--Investment B Shares		--			--			--
Shareholder services fee--Trust Shares		21,349			497,968			95,464
Shareholder services fee--Investment A Shares		8,823			311,437			117,264
Shareholder services fee--Investment B Shares		--			--			--
Share registration costs		15,027			23,509			16,501
Printing and postage		1,317			40,052			9,523
Insurance premiums		706			7,014			2,987
Other		90			2,854			679
Total expenses		129,852			3,050,577			844,700
Waivers:
Waiver of shareholder services fee--Trust Shares		(14,921	)		(1,066	)		(8,368	)
Waiver of shareholder services fee--Investment A Shares		(6,052	)		(494	)		(9,200	)
Waiver of distribution services fee--Investment A Shares		(8,806	)		(286,447	)		(103,581	)
Total waivers		(29,779	)		(288,007	)		(121,149	)
Net expenses		100,073			2,762,570			723,551
Net investment income (loss)		24,125			752,692			180,470
Realized and Unrealized Gain (Loss) on Investments, Options and Foreign Currency Transactions:
Net realized gain (loss) on investment transactions		(497	)		(2,617	)		(4,405	)
Net realized gain (loss) on option transactions		--			--			--
Net realized gain (loss) on foreign currency transactions		--			--			--
Net realized gain (loss) on investments, options and foreign currency transactions		(497	)		(2,617	)		(4,405	)
Net change in unrealized appreciation/depreciation of investments, options and translation of assets and liabilities in foreign currency		--			--			--
Net realized and unrealized gain (loss) on investments, options and foreign currency transactions		(497	)		(2,617	)		(4,405	)
Change in net assets resulting from operations	$	23,628		$	750,075		$	176,065

(1) Fund commenced operations on April 30, 2004.

(2) Net of foreign dividend taxes withheld of $135,637.

(See notes which are an integral part of the Financial Statements)

Huntington U.S. Treasury Money Market Fund			Huntington Dividend Capture Fund			Huntington Growth Fund			Huntington Income Equity Fund			Huntington International Equity Fund			Huntington Macro 100 Fund(1)
$	--		$	2,178,854		$	1,521,764		$	3,093,586		$	1,270,799	(2)	$	20,025
	--			3,313			9,729			7,959			--			516
	2,393,608			--			--			--			2,859			--
	--			328			9			583			--			--
	2,393,608			2,182,495			1,531,502			3,102,128			1,273,658			20,541
	510,426			295,168			792,547			642,852			490,276			11,360
	191,411			29,517			99,070			80,357			36,771			1,136
	153,123			23,613			79,253			64,284			29,416			909
	66,357			10,233			34,345			27,858			13,190			394
	78,262			12,435			41,255			33,551			15,289			685
	8,077			1,270			4,413			3,571			1,580			50
	33,984			5,847			18,437			14,766			7,193			227
	19,941			3,081			10,355			8,394			3,875			227
	115,681			30,212			68,512			57,534			33,033			2,272
	40,435			13,873			14,727			5,081			1,208			58
	--			50,804			21,273			29,498			1,873			177
	597,595			67,582			308,410			252,942			120,736			3,670
	40,435			13,873			14,727			5,081			1,208			58
	--			16,935			7,091			9,833			624			59
	14,960			22,846			22,680			22,680			22,250			3,976
	28,351			4,415			14,707			11,759			5,415			167
	292			1,697			4,166			3,628			1,969			--
	1,823			797			1,926			1,385			906			45
	1,901,153			604,198			1,557,894			1,275,054			786,812			25,470
	(8,462	)		--			--			--			--			--
	(516	)		--			--			--			--			--
	(38,254	)		--			--			--			--			--
	(47,232	)		--			--			--			--			--
	1,853,921			604,198			1,557,894			1,275,054			786,812			25,470
	539,687			1,578,297			(26,392	)		1,827,074			486,846			(4,929	)
	2,123			2,902,864			4,015,016			6,453,621			3,500,449			--
	--			--			--			(33,838	)		--			--
	--			--			--			--			87,562			--
	2,123			2,902,864			4,015,016			6,419,783			3,588,011			--
	--			(3,058,475	)		3,011,327			(1,680,920	)		(401,310	)		573,315
	2,123			(155,611	)		7,026,343			4,738,863			3,186,701			573,315
$	541,810		$	1,422,686		$	6,999,951		$	6,565,937		$	3,673,547		$	568,386

Statements of Operations

Six Months Ended June 30, 2004 (Unaudited)

	Huntington Mid Corp America Fund			Huntington New Economy Fund			Huntington Rotating Markets Fund
Investment Income:
Dividend Income	$	787,675		$	107,812		$	63,426
Dividend Income from affiliates		6,542			2,995			1,291
Interest Income		--			--			--
Income from securities lending		13,913			179			--
Total investment income		808,130			110,986			64,717
Expenses:
Investment adviser fees		549,854			193,955			53,309
Administration fees		54,986			17,114			7,996
Sub-Administration fees		43,987			13,691			6,397
Custodian fees		19,062			5,933			2,772
Transfer and dividend disbursing agent fees and expenses		23,115			7,168			3,330
Directors' fees		2,443			764			355
Auditing fees		10,440			3,327			1,518
Legal fees		5,744			1,760			823
Portfolio accounting fees		46,024			24,399			10,648
Distribution services fee--Investment A Shares		3,980			1,790			1,646
Distribution services fee--Investment B Shares		22,459			6,932			--
Shareholder services fee--Trust Shares		171,819			52,945			25,008
Shareholder services fee--Investment A Shares		3,980			1,790			1,646
Shareholder services fee--Investment B Shares		7,486			2,311			--
Share registration costs		21,893			21,650			14,890
Printing and postage		8,075			2,557			1,183
Insurance premiums		2,820			1,187			739
Other		1,309			422			171
Total expenses		999,476			359,695			132,431
Net investment income (loss)		(191,346	)		(248,709	)		(67,714	)
Realized and Unrealized Gain (Loss) on Investments, Options and Foreign Currency Transactions:
Net realized gain (loss) on investment transactions		1,178,812			(170,574	)		776,953
Net realized gain (loss) on option transactions		--			--			--
Net realized gain (loss) on foreign currency transactions		--			--			--
Net realized gain (loss) on investments, options and foreign currency transactions		1,178,812			(170,574	)		776,953
Net change in unrealized appreciation/depreciation of investments, options and translation of assets and liabilities in foreign currency		8,800,356			3,319,035			(262,462	)
Net realized and unrealized gain (loss) on investments, options and foreign currency transactions		9,979,168			3,148,461			514,491
Change in net assets resulting from operations	$	9,787,822		$	2,899,752		$	446,777

(1) Net of foreign dividend taxes withheld of $3,500.

(See notes which are an integral part of the Financial Statements)

Huntington Situs Small Cap Fund			Huntington Fixed Income Securities Fund			Huntington Intermediate Government Income Fund			Huntington Michigan Tax-Free Fund			Huntington Mortgage Securities Fund			Huntington Ohio Tax-Free Fund			Huntington Short/Intermediate Fixed Income Securities Fund
$	168,280	(1)	$	674		$	--		$	921		$	200,918		$	1,502		$	--
	1,037			7,639			2,361			--			3,538			--			4,319
	--			3,824,290			1,989,372			557,285			953,385			1,240,019			2,969,191
	1,447			3,696			635			--			--			--			3
	170,764			3,836,299			1,992,368			558,206			1,157,841			1,241,521			2,973,513
	135,885			422,360			219,350			74,437			124,400			162,992			414,380
	13,589			63,355			32,903			11,166			18,660			24,449			62,157
	10,870			50,682			26,321			8,932			14,928			19,559			49,724
	4,711			21,963			11,406			3,871			6,469			8,476			21,548
	5,685			26,383			13,755			4,644			7,769			10,158			26,058
	585			2,812			1,460			497			835			1,089			2,764
	2,716			11,498			5,857			2,004			3,381			4,486			11,798
	1,432			6,620			3,437			1,161			1,947			2,554			6,654
	19,571			52,796			31,422			22,377			22,823			33,682			46,699
	864			3,358			7,830			7,548			1,518			7,234			8,823
	3,254			12,161			1,685			2,731			1,287			6,684			--
	43,346			203,769			101,283			28,760			60,253			72,035			198,366
	864			3,358			7,830			7,548			1,518			7,234			8,823
	1,085			4,054			562			910			429			2,228			--
	22,983			22,139			20,978			21,789			21,664			21,371			16,342
	1,990			9,293			4,862			1,655			2,760			3,606			9,219
	958			2,605			1,671			880			950			1,357			2,813
	393			980			258			51			81			187			954
	270,781			920,186			492,870			200,961			291,672			389,381			887,122
	(100,017	)		2,916,113			1,499,498			357,245			866,169			852,140			2,086,391
	726,281			1,100,145			28,980			69,064			581,500			24,293			317,488
	--			--			--			--			--			--			--
	(921	)		--			--			--			--			--			--
	725,360			1,100,145			28,980			69,064			581,500			24,293			317,488
	3,162,656			(4,616,477	)		(1,813,786	)		(784,057	)		(1,179,230	)		(1,576,179	)		(3,056,177	)
	3,888,016			(3,516,332	)		(1,784,806	)		(714,993	)		(597,730	)		(1,551,886	)		(2,738,689	)
$	3,787,999		$	(600,219	)	$	(285,308	)	$	(357,748	)	$	268,439		$	(699,746	)	$	(652,298	)

Statements of Changes in Net Assets

		Huntington Florida Tax-Free Money Fund						Huntington Money Market Fund
	Six Months Ended June 30, 2004			Year Ended December 31, 2003			Six Months Ended June 30, 2004				Year Ended December 31, 2003
		(Unaudited)						(Unaudited)
Increase (Decrease) in Net Assets:
Operations--
Net investment income (loss)	$	24,125		$	67,595		$	752,692		$	2,289,672
Net realized gain (loss) on investments		(497	)		(231	)		(2,617	)		(490,061	)
Net change in unrealized appreciation/depreciation of investments		--			--			--			--
Change in net assets resulting from operations		23,628			67,364			750,075			1,799,611
Distributions to Shareholders--
From net investment income:
Trust Shares		(17,068	)		(53,692	)		(441,155	)		(1,396,770	)
Investment A Shares		(7,057	)		(13,903	)		(249,231	)		(683,201	)
Investment B Shares		--			--			(144	)		(763	)
Interfund Shares		--			--			(62,162	)		(220,563	)
From net realized gain on investments:
Trust Shares		--			--			--			--
Investment A Shares		--			--			--			--
Investment B Shares		--			--			--			--
Change in net assets resulting from distributions to shareholders		(24,125	)		(67,595	)		(752,692	)		(2,301,297	)
Share Transactions--
Proceeds from sale of shares		19,402,337			54,049,731			781,957,578			1,903,409,394
Distributions reinvested		1,605			2,011			124,683			393,589
Cost of shares redeemed		(22,254,048	)		(53,205,958	)		(758,718,781	)		(2,008,879,201	)
Change in net assets resulting from share transactions		(2,850,106	)		845,784			23,363,480			(105,076,218	)
Change in net assets		(2,850,603	)		845,553			23,360,863			(105,577,904	)
Net Assets:
Beginning of period		27,123,410			26,277,857			636,852,541			742,430,445
End of period	$	24,272,807		$	27,123,410		$	660,213,404			$636,852,541
Accumulated net investment income (loss) included in net assets at end of period	$	2		$	2		$	(1	)	$	(1	)

(See notes which are an integral part of the Financial Statements)

	Huntington Ohio Municipal Money Market Fund						Huntington U.S. Treasury Money Market Fund						Huntington Dividend Capture Fund
Six Months Ended June 30, 2004			Year Ended December 31, 2003			Six Months Ended June 30, 2004			Year Ended December 31, 2003			Six Months Ended June 30, 2004			Year Ended December 31, 2003
(Unaudited)							(Unaudited)						(Unaudited)
$	180,470		$	455,346		$	539,687		$	1,941,076		$	1,578,297		$	2,163,629
	(4,405)			35,211			2,123			43,724			2,902,864			1,299,177
	--			--			--			--			(3,058,475	)		7,044,401
	176,065			490,557			541,810			1,984,800			1,422,686			10,507,207
	(86,422)			(196,257)			(507,323	)		(1,865,755	)		(1,139,353	)		(1,539,861	)
	(94,048)			(259,089)			(32,364	)		(95,980	)		(187,989	)		(332,367	)
	--			--			--			--			(231,344	)		(321,518	)
	--			--			--			--			--			--
	--			--			--			--			(592,592	)		--
	--			--			--			--			(82,380	)		--
	--			--			--			--			(140,881	)		--
	(180,470)			(455,346	)		(539,687	)		(1,961,735)			(2,374,539	)		(2,193,746	)
	193,747,510			332,497,794			907,998,375			1,803,698,971			26,192,060			41,280,985
	19,302			60,844			45,556			71,669			1,203,271			1,400,526
	(198,602,181	)		(362,417,658	)		(985,656,591	)		(1,810,257,021	)		(14,531,083	)		(9,447,914	)
	(4,835,369	)		(29,859,020	)		(77,612,660	)		(6,486,381	)		12,864,248			33,233,597
	(4,839,774	)		(29,823,809	)		(77,610,537	)		(6,463,316	)		11,912,395			41,547,058
	168,891,509			198,715,318			579,214,484			585,677,800			72,246,563			30,699,505
$	164,051,735		$	168,891,509		$	501,603,947		$	579,214,484		$	84,158,958		$	72,246,563
$	27,393		$	27,393		$	41,653		$	41,653		$	36,878		$	17,267

Statements of Changes in Net Assets

		Huntington Growth Fund						Huntington Income Equity Fund
	Six Months Ended June 30, 2004			Year Ended December 31, 2003			Six Months Ended June 30, 2004			Year Ended December 31, 2003
		(Unaudited)						(Unaudited)
Increase (Decrease) in Net Assets:
Operations--
Net investment income (loss)	$	(26,392	)	$	147,801		$	1,827,074		$	6,209,401
Net realized gain (loss) on investments, options and foreign currency transactions		4,015,016			1,530,903			6,419,783			21,256,828
Net change in unrealized appreciation/depreciation of investments, options and translation of assets and liabilities in foreign currency		3,011,327			38,848,081			(1,680,920	)		11,494,109
Change in net assets resulting from operations		6,999,951			40,526,785			6,565,937			38,960,338
Distributions to Shareholders--
From net investment income:
Trust Shares		--			(149,743	)		(1,724,370	)		(6,189,721	)
Investment A Shares		--			--			(30,332	)		(75,184	)
Investment B Shares		--			--			(40,265	)		(126,995	)
From net realized gain on investments:
Trust Shares		--			--			(11,482,445	)		(7,824,722	)
Investment A Shares		--			--			(234,014	)		(138,720	)
Investment B Shares		--			--			(460,233	)		(246,677	)
Change in net assets resulting from distributions to shareholders		--			(149,743	)		(13,971,659	)		(14,602,019	)
Share Transactions--
Proceeds from sale of shares		19,706,466			50,206,525			18,468,815			31,286,287
Distributions reinvested		--			59,348			5,095,537			5,153,866
Cost of shares redeemed		(19,046,627	)		(33,435,361	)	��	(15,654,736	)		(32,002,882	)
Change in net assets resulting from share transactions		659,839			16,830,512			7,909,616			4,437,271
Change in net assets		7,659,790			57,207,554			503,894			28,795,590
Net Assets:
Beginning of period		258,375,524			201,167,970			211,489,610			182,694,020
End of period	$	266,035,314		$	258,375,524		$	211,993,504		$	211,489,610
Accumulated net investment income (loss) included in net assets at end of period	$	(26,392	)	$	--		$	32,107		$	--

(1) Fund commmenced operations on April 30, 2004.

(See notes which are an integral part of the Financial Statements)

	Huntington International Equity Fund					Huntington Macro 100 Fund				Huntington Mid Corp America Fund						Huntington New Economy Fund
Six Months Ended June 30, 2004			Year Ended December 31, 2003			Period Ended June 30, 2004(1)			Six Months Ended June 30, 2004			Year Ended December 31, 2003			Six Months Ended June 30, 2004			Year Ended December 31, 2003
	(Unaudited)						(Unaudited)			(Unaudited)						(Unaudited)
$	486,846		$	549,224		$	(4,929	)	$	(191,346	)	$	(132,609	)	$	(248,709	)	$	(259,915	)
	3,588,011			(1,484,988	)		--			1,178,812			(414,237	)		(170,574	)		1,534,511
	(401,310	)		21,948,421			573,315			8,800,356			32,615,177			3,319,035			8,589,805
	3,673,547			21,012,657			568,386			9,787,822			32,068,331			2,899,752			9,864,401
	(17,582	)		(460,838	)		--			--			--			--			--
	--			(1,228	)		--			--			--			--			--
	--			(520	)		--			--			--			--			--
	--			--			--			--			--			--			(20,093	)
	--			--			--			--			--			--			(592	)
	--			--			--			--			--			--			(856	)
	(17,582	)		(462,586	)		--			--			--			--			(21,541	)
	20,372,207			41,344,191			11,131,010			14,129,765			33,362,167			6,829,099			11,705,378
	7,202			199,636			--			--			--			--			16,187
	(7,643,508	)		(23,465,084	)		(33,981	)		(19,161,880	)		(15,198,745	)		(3,064,685	)		(3,129,978	)
	12,735,901			18,078,743			11,097,029			(5,032,115	)		18,163,422			3,764,414			8,591,587
	16,391,866			38,628,814			11,665,415			4,755,707			50,231,753			6,664,166			18,434,447
	87,704,739			49,075,925			--			143,432,253			93,200,500			42,159,852			23,725,405
$	104,096,605		$	87,704,739		$	11,665,415		$	148,187,960		$	143,432,253		$	48,824,018		$	42,159,852
$	486,850		$	17,586		$	(4,929	)	$	(191,346	)	$	--		$	(248,709	)	$	--

Statements of Changes in Net Assets

		Huntington Rotating Markets Fund						Huntington Situs Small Cap Fund
	Six Months Ended June 30, 2004			Year Ended December 31, 2003			Six Months Ended June 30, 2004			Year Ended December 31, 2003
		(Unaudited)						(Unaudited)
Increase (Decrease) in Net Assets:
Operations--
Net investment income (loss)	$	(67,714	)	$	88,042		$	(100,017	)	$	(105,993	)
Net realized gain (loss) on investments, options and foreign currency transactions		776,953			(1,058,150	)		725,360			172,030
Net change in unrealized appreciation/depreciation of investments, options and translation of assets and liabilities in foreign currency		(262,462	)		5,076,509			3,162,656			7,238,592
Change in net assets resulting from operations		446,777			4,106,401			3,787,999			7,304,629
Distributions to Shareholders--
From net investment income:
Trust Shares		--			(84,803	)		--			--
Investment A Shares		--			(3,238	)		--			--
Investment B Shares		--			--			--			--
From net realized gain on investments:
Trust Shares		--			--			(59,275	)		(10,996	)
Investment A Shares		--			--			(1,296	)		(183	)
Investment B Shares		--			--			(1,772	)		(198	)
Change in net assets resulting from distributions to shareholders		--			(88,041	)		(62,343	)		(11,377	)
Share Transactions--
Proceeds from sale of shares		1,000,714			3,470,561			8,790,044			13,623,967
Distributions reinvested		37,277			--			34,667			6,297
Cost of shares redeemed		(1,168,921	)		(1,681,946	)		(3,289,820	)		(3,150,573	)
Change in net assets resulting from share transactions		(130,930	)		1,788,615			5,534,891			10,479,691
Change in net assets		315,847			5,806,975			9,260,547			17,772,943
Net Assets:
Beginning of period		21,194,982			15,388,007			31,119,963			13,347,020
End of period	$	21,510,829		$	21,194,982		$	40,380,510		$	31,119,963
Accumulated net investment income (loss) included in net assets at end of period	$	(67,713	)	$	1		$	(100,574	)	$	(557	)

(See notes which are an integral part of the Financial Statements)

	Huntington Fixed Income Securities Fund						Huntington Intermediate Government Income Fund						Huntington Michigan Tax-Free Fund
Six Months Ended June 30, 2004			Year Ended December 31, 2003			Six Months Ended June 30, 2004			Year Ended December 31, 2003			Six Months Ended June 30, 2004			Year Ended December 31, 2003
	(Unaudited)						(Unaudited)						(Unaudited)
$	2,916,113		$	6,092,886		$	1,499,498		$	3,159,794		$	357,245		$	715,465
	1,100,145			2,437,881			28,980			786,947			69,064			135,049
	(4,616,477	)		(1,238,383	)		(1,813,786	)		(2,852,582	)		(784,057	)		70,293
	(600,219	)		7,292,384			(285,308	)		1,094,159			(357,748	)		920,807
	(2,853,921	)		(6,028,448)			(1,455,331	)		(3,033,767	)		(284,046	)		(567,718	)
	(43,645	)		(71,567)			(104,788	)		(283,726	)		(66,977	)		(143,743	)
	(44,745	)		(84,385)			(6,379	)		(7,107	)		(6,222	)		(4,030	)
	--			--			(280,168	)		(170,753	)		(14,662	)		(109,382	)
	--			--			(17,455	)		(15,894	)		(3,940	)		(29,207	)
	--			--			(1,546	)		(1,032	)		(494	)		(2,500	)
	(2,942,311	)		(6,184,400	)		(1,865,667	)		(3,512,279	)		(376,341	)		(856,580	)
	13,865,082			48,227,572			9,016,429			28,747,806			4,726,962			10,435,879
	1,221,630			2,596,494			587,644			1,338,065			82,270			192,346
	(18,657,461	)		(30,313,913	)		(11,358,360	)		(26,017,447	)		(4,911,312	)		(3,493,240	)
	(3,570,749	)		20,510,153			(1,754,287	)		4,068,424			(102,080	)		7,134,985
	(7,113,279	)		21,618,137			(3,905,262	)		1,650,304			(836,169	)		7,199,212
	171,958,894			150,340,757			89,648,748			87,998,444			30,676,208			23,476,996
$	164,845,615		$	171,958,894		$	85,743,486		$	89,648,748		$	29,840,039		$	30,676,208
$	(27,191	)	$	(993	)	$	(67,118	)	$	(118	)	$	10,925		$	10,925

Statements of Changes in Net Assets

		Huntington Mortgage Securities Fund						Huntington Ohio Tax-Free Fund
	Six Months Ended June 30, 2004			Year Ended December 31, 2003			Six Months Ended June 30, 2004			Year Ended December 31, 2003
		(Unaudited)						(Unaudited)
Increase (Decrease) in Net Assets:
Operations--
Net investment income (loss)	$	866,169		$	1,374,304		$	852,140		$	1,604,501
Net realized gain (loss) on investments		581,500			717,417			24,293			340,716
Net change in unrealized appreciation/depreciation of investments		(1,179,230	)		1,177,442			(1,576,179	)		31,148
Change in net assets resulting from operations		268,439			3,269,163			(699,746	)		1,976,365
Distributions to Shareholders--
From net investment income:
Trust Shares		(660,891	)		(1,699,839	)		(765,399	)		(1,471,236	)
Investment A Shares		(14,812	)		(80,835	)		(69,808	)		(120,307	)
Investment B Shares		(3,613	)		(2,309	)		(16,932	)		(12,965	)
From net realized gain on investments:
Trust Shares		--			--			(19,863	)		(279,838	)
Investment A Shares		--			--			(1,953	)		(29,980	)
Investment B Shares		--			--			(609	)		(8,473	)
Change in net assets resulting from distributions to shareholders		(679,316	)		(1,782,983	)		(874,564	)		(1,922,799	)
Share Transactions--
Proceeds from sale of shares		8,778,358			4,950,426			9,176,994			20,568,116
Distributions reinvested		237,183			677,026			88,085			286,179
Cost of shares redeemed		(1,958,150	)		(10,863,681	)		(5,882,505	)		(13,312,249	)
Change in net assets resulting from share transactions		7,057,391			(5,236,229	)		3,382,574			7,542,046
Change in net assets		6,646,514			(3,750,049	)		1,808,264			7,595,612
Net Assets:
Beginning of period		45,421,919			49,171,968			63,047,243			55,451,631
End of period	$	52,068,433		$	45,421,919		$	64,855,507		$	63,047,243
Accumulated net investment income (loss) included in net assets at end of period	$	227,654		$	40,801		$	(3	)	$	(4	)

(See notes which are an integral part of the Financial Statements)

	Huntington Short/Intermediate Fixed Income Securities Fund
Six Months Ended June 30, 2004			Year Ended December 31, 2003
	(Unaudited)
$	2,086,391		$	4,428,044
	317,488			1,388,793
	(3,056,177	)		(1,693,979	)
	(652,298	)		4,122,858
	(2,005,465	)		(4,292,934	)
	(80,926	)		(135,251	)
	--			--
	--			--
	--			--
	--			--
	(2,086,391	)		(4,428,185	)
	37,397,740			93,795,333
	722,024			1,717,301
	(37,726,940	)		(52,356,174	)
	392,824			43,156,460
	(2,345,865	)		42,851,133
	163,944,026			121,092,893
$	161,598,161		$	163,944,026
$	(1,059	)	$	(1,059	)

Financial Highlights

Money Market Funds

(For a share outstanding throughout each period)

Year ended December 31,	Net Asset Value, beginning of period	Net investment income (operating loss)	Net realized and unrealized gain (loss) investments	Total from investment operations	Distributions to shareholders from net investment income	Distributions to shareholders from net realized gain on investment transactions
TRUST SHARES
Huntington Florida Tax-Free Money Fund
1999(3)	$ 1.00	0.03	--	0.03	(0.03)	--
2000	$ 1.00	0.04	--	0.04	(0.04)	--
2001	$ 1.00	0.02	--	0.02	(0.02)	--
2002	$ 1.00	0.01	--	0.01	(0.01)	--
2003	$ 1.00	--(7)	--	--	-- (7)	--
2004(8)	$ 1.00	--(7)	--	--	-- (7)	--
Huntington Money Market Fund
1999	$ 1.00	0.05	--	0.05	(0.05)	--
2000	$ 1.00	0.06	--	0.06	(0.06)	--
2001	$ 1.00	0.03	--	0.03	(0.03)	--
2002	$ 1.00	0.01	--	0.01	(0.01)	--
2003	$ 1.00	--(7)	--	--	-- (7)	--
2004(8)	$ 1.00	--(7)	--	--	-- (7)	--
Huntington Ohio Municipal Money Market Fund
1999	$ 1.00	0.03	--	0.03	(0.03)	--
2000	$ 1.00	0.04	--	0.04	(0.04)	--
2001	$ 1.00	0.02	--	0.02	(0.02)	--
2002	$ 1.00	0.01	--	0.01	(0.01)	--
2003	$ 1.00	--(7)	--	--	-- (7)	--
2004(8)	$ 1.00	--(7)	--	--	-- (7)	--
Huntington U.S. Treasury Money Market Fund
1999	$ 1.00	0.04	--	0.04	(0.04)	--
2000	$ 1.00	0.06	--	0.06	(0.06)	--
2001	$ 1.00	0.03	--	0.03	(0.03)	--
2002	$ 1.00	0.01	--	0.01	(0.01)	--
2003	$ 1.00	--(7)	--	--	-- (7)	--
2004(8)	$ 1.00	--(7)	--	--	-- (7)	--

(1) Based on net asset value, which does not reflect a sales charge or contingent deferred sales charge, if applicable.

(2) This voluntary expense decrease is reflected in both the expense and net investment income ratios.

(3) Reflects operations for the period from January 6, 1999 (date of initial public investment) to December 31, 1999.

(4) Not annualized.

(5) Computed on an annualized basis.

(6) The payments by affiliates had no impact on total return for the year ended December 31, 2001.

(7) Amount is less than $0.005.

(8) Six months ended June 30, 2004 (unaudited).

(See notes which are an integral part of the Financial Statements)

			Ratios to average net assets
Total distributions	Net Asset Value, end of period	Total return(1)	Net Expenses	Net investment income	Expense waiver reduction/ reimbursement(2)	Net Assets, end of period (000 omitted)
(0.03)	$1.00	2.78%(4)	0.49%(5)	2.78%(5)	0.30%(5)	$ 25,295
(0.04)	$1.00	3.68%	0.56%	3.63%	0.12%	$ 38,506
(0.02)	$1.00	2.14%	0.78%	2.23%	0.05%	$ 26,050
(0.01)	$1.00	0.61%	0.98%	0.59%	- --	$ 20,357
- --	$1.00	0.25%	0.85%	0.25%	0.12%	$ 19,539
- --	$1.00	0.10%(4)	0.83%(5)	0.20%(5)	0.17%(5)	$ 16,957
(0.05)	$1.00	4.77%	0.49%	4.67%	- --	$633,055
(0.06)	$1.00	6.02%	0.51%	5.85%	0.02%	$555,110
(0.03)	$1.00	3.45%(6)	0.71%	3.41%	0.05%	$717,115
(0.01)	$1.00	0.96%	0.81%	0.95%	- --	$423,189
- --	$1.00	0.33%	0.82%	0.33%	0.01%	$366,116
- --	$1.00	0.11%(4)	0.82%(5)	0.22%(5)	- --(5)	$396,614
(0.03)	$1.00	2.79%	0.48%	2.74%	0.05%	$ 90,804
(0.04)	$1.00	3.64%	0.53%	3.55%	0.04%	$101,655
(0.02)	$1.00	2.26%	0.73%	2.25%	0.06%	$ 81,745
(0.01)	$1.00	0.78%	0.85%	0.78%	- --	$ 75,508
- --	$1.00	0.31%	0.83%	0.31%	0.03%	$ 67,509
- --	$1.00	0.11%(4)	0.83%(5)	0.23%(5)	0.03%(5)	$ 72,529
(0.04)	$1.00	4.53%	0.40%	4.42%	- --	$404,501
(0.06)	$1.00	5.77%	0.43%	5.63%	0.02%	$379,927
(0.03)	$1.00	3.35%	0.62%	3.30%	0.05%	$460,993
(0.01)	$1.00	1.02%	0.73%	0.99%	- --	$534,133
- --	$1.00	0.35%	0.73%	0.34%	0.02%	$542,771
- --	$1.00	0.11%(4)	0.73%(5)	0.21%(5)	- --(5)	$459,984

Financial Highlights

Money Market Funds

(For a share outstanding throughout each period)

Year ended December 31,	Net Asset Value, beginning of period	Net investment income (operating loss)	Net realized and unrealized gain (loss) investments	Total from investment operations	Distributions to shareholders from net investment income	Distributions to shareholders from net realized gain on investment transactions
INVESTMENT A SHARES
Huntington Florida Tax-Free Money Fund
1999(3)	$1.00	0.03	--	0.03	(0.03)	--
2000	$1.00	0.03	--	0.03	(0.03)	--
2001	$1.00	0.02	--	0.02	(0.02)	--
2002	$1.00	--	--	--	--	--
2003	$1.00	--(9)	--	--	--(9)	--
2004(10)	$1.00	--(9)	--	--	--(9)	--
Huntington Money Market Fund
1999	$1.00	0.05	--	0.05	(0.05)	--
2000	$1.00	0.06	--	0.06	(0.06)	--
2001	$1.00	0.03	--	0.03	(0.03)	--
2002	$1.00	0.01	--	0.01	(0.01)	--
2003	$1.00	--(9)	--	--	--(9)	--
2004(10)	$1.00	--(9)	--	--	--(9)	--
Huntington Ohio Municipal Money Market Fund
1999	$1.00	0.03	--	0.03	(0.03)	--
2000	$1.00	0.03	--	0.03	(0.03)	--
2001	$1.00	0.02	--	0.02	(0.02)	--
2002	$1.00	0.01	--	0.01	(0.01)	--
2003	$1.00	--(9)	--	--	--(9)	--
2004(10)	$1.00	--(9)	--	--	--(9)	--
Huntington U.S. Treasury Money Market Fund
1999	$1.00	0.04	--	0.04	(0.04)	--
2000	$1.00	0.05	--	0.05	(0.05)	--
2001	$1.00	0.03	--	0.03	(0.03)	--
2002	$1.00	0.01	--	0.01	(0.01)	--
2003	$1.00	--(9)	--	--	--(9)	--
2004(10)	$1.00	--(9)	--	--	--(9)	--
INVESTMENT B SHARES
Huntington Money Market Fund
2000(6)	$1.00	0.03	--	0.03	(0.03)	--
2001	$1.00	0.03	--	0.03	(0.03)	--
2002	$1.00	--	--	--	--	--
2003	$1.00	0.01	--	0.01	(0.01)	--
2004(10)	$1.00	--(9)	--	--	--(9)	--
INTERFUND SHARES
Huntington Money Market Fund
2001(7)	$1.00	0.01	--	0.01	(0.01)	--
2002	$1.00	0.01	--	0.01	(0.01)	--
2003	$1.00	0.01	--	0.01	(0.01)	--
2004(10)	$1.00	--(9)	--	--	--(9)	--

(1) Based on net asset value, which does not reflect a sales charge or contingent deferred sales charge, if applicable.

(2) This voluntary expense decrease is reflected in both the expense and net investment income ratios.

(3) Reflects operations for the period from January 6, 1999 (date of initial public investment) to December 31, 1999.

(4) Not annualized.

(5) Computed on an annualized basis.

(6) Reflects operations for the period from May 2, 2000 (date of initial public investment) to December 31, 2000.

(7) Reflects operations for the period from September 4, 2001 (date of initial public investment) to December 31, 2001.

(8) The payments by affiliates had no impact on total return for the year ended December 31, 2001.

(9) Amount is less than $0.005.

(10) Six monts ended June 30, 2004 (unaudited).

(See notes which are an integral part of the Financial Statements)

			Ratios to average net assets
Total distributions	Net Asset Value, end of period	Total return(1)	Net Expenses	Net investment income	Expense waiver reduction/ reimbursement(2)	Net Assets, end of period (000 omitted)
(0.03)	$1.00	2.74%(4)	0.57%(5)	2.70%(5)	0.43%(5)	$ 19,567
(0.03)	$1.00	3.48%	0.77%	3.45%	0.16%	$ 51,182
(0.02)	$1.00	1.89%	1.03%	1.96%	0.05%	$ 21,193
- --	$1.00	0.37%	1.24%	0.36%	- --	$ 5,921
- --	$1.00	0.24%	0.85%	0.24%	0.37%	$ 7,584
- --	$1.00	0.10%(4)	0.83%(5)	0.20%(5)	0.42%(5)	$ 7,316
(0.05)	$1.00	4.67%	0.60%	4.57%	0.15%	$336,085
(0.06)	$1.00	5.81%	0.71%	5.67%	0.08%	$378,183
(0.03)	$1.00	3.20%(8)	0.96%	3.13%	0.05%	$430,582
(0.01)	$1.00	0.70%	1.06%	0.70%	- --	$292,379
- --	$1.00	0.24%	0.91%	0.24%	0.17%	$244,477
- --	$1.00	0.10%(4)	0.84%(5)	0.20%(5)	0.23%(5)	$235,896
(0.03)	$1.00	2.69%	0.59%	2.64%	0.20%	$121,623
(0.03)	$1.00	3.43%	0.72%	3.36%	0.10%	$109,755
(0.02)	$1.00	2.00%	0.98%	1.95%	0.06%	$160,703
(0.01)	$1.00	0.53%	1.10%	0.54%	- --	$123,208
- --	$1.00	0.24%	0.90%	0.24%	0.21%	$101,383
- --	$1.00	0.10%(4)	0.86%(5)	0.20%(5)	0.24%(5)	$ 91,523
(0.04)	$1.00	4.42%	0.49%	4.34%	0.15%	$ 40,788
(0.05)	$1.00	5.56%	0.63%	5.41%	0.07%	$ 37,717
(0.03)	$1.00	3.09%	0.87%	3.11%	0.05%	$ 37,561
(0.01)	$1.00	0.77%	0.98%	0.74%	- --	$ 51,545
- --	$1.00	0.25%	0.84%	0.25%	0.16%	$ 36,443
- --	$1.00	0.10%(4)	0.74%(5)	0.20%(5)	0.24%(5)	$ 41,620
(0.03)	$1.00	3.44%(4)	1.48%(5)	5.07%(5)	--(5)	$ 11
(0.03)	$1.00	2.62%(8)	1.51%	2.64%	--	$ 18
- --	$1.00	0.24%	1.47%	0.22%	0.09%	$ 151
(0.01)	$1.00	0.52%	0.63%	0.54%	0.04%	$ 64
- --	$1.00	0.23%(4)	0.57%(5)	0.47%(5)	- --(5)	$ 58
(0.01)	$1.00	0.77%(4)	0.51%(5)	1.88%(5)	- --(5)	$ 20,591
(0.01)	$1.00	1.21%	0.56%	1.18%	- --	$ 26,711
(0.01)	$1.00	0.57%	0.58%	0.56%	- --	$ 26,196
- --	$1.00	0.23%(4)	0.57%(5)	0.47%(5)	- --(5)	$ 27,645

Financial Highlights

Equity Funds

(For a share outstanding throughout each period)

Year ended December 31,	Net Asset Value, beginning of period	Net investment income (operating loss)		Net realized and unrealized gain (loss) investments	Total from investment operations	Distributions to shareholders from net investment income	Distributions from paid in capital		Distributions to shareholders from net realized gain on investment transactions	Distributions in excess of net investment income
TRUST SHARES
Huntington Dividend Capture Fund
2001(8)	$10.00	0.51	(3)	0.20	0.71	(0.60)	--		--	--
2002	$10.11	0.49		(0.49)	--	(0.49)	--		--	--
2003	$ 9.61	0.45		1.49	1.94	(0.45)	--		--	--
2004(11)	$11.11	0.23		0.02	0.25	(0.23)	--		(0.11)	--
Huntington Growth Fund
1999	$49.78	0.30		6.16	6.46	(0.30)	--		(6.42)	--
2000	$49.52	--		1.83	1.83	--	--		(0.72)	(0.05)
2001	$50.58	(0.04	)(3)	(8.43)	(8.47)	--	--		--	--
2002	$42.11	(0.05	)	(9.34)	(9.39)	--	--		--	--
2003	$32.72	0.03		6.23	6.26	(0.02)	--		--	--
2004(11)	$38.96	--		1.06	1.06	--	--		--	--
Huntington Income Equity Fund
1999	$40.85	1.16		(3.87)	(2.71)	(1.14)	--		(0.27)	(0.02)
2000	$36.71	1.19		(0.69)	0.50	(1.24)	--		(0.68)	--
2001	$35.29	1.13		(0.48)	0.65	(1.12)	--		(0.49)	--
2002	$34.33	1.06		(5.31)	(4.25)	(1.06)	--		(0.09)	--
2003	$28.93	0.96		4.95	5.91	(0.99)	--		(1.27)	--
2004(11)	$32.58	0.28		0.68	0.96	(0.27)	--		(1.84)	--
Huntington International Equity Fund
2001(8)	$10.00	(0.04	)(3)	(2.27)	(2.31)	(0.01)	--		--	--
2002	$ 7.68	(0.01	)	(1.01)	(1.02)	--	--		--	--
2003	$ 6.66	0.06		2.26	2.32	(0.05)	--		--	--
2004(11)	$ 8.93	0.04		0.32	0.36	--(10)	--		--	--
Huntington Macro 100 Fund
2004(13)	$10.00	--		0.60	0.60	--	--		--	--
Huntington Mid Corp America Fund
2001(8)	$10.00	--	(3)	0.44	0.44	(0.03)	--		(0.01)	--
2002	$10.40	(0.03	)	(1.34)	(1.37)	--	--		--	--
2003	$ 9.03	(0.01	)	2.84	2.83	--	--		--	--
2004(11)	$11.86	(0.01	)	0.83	0.82	--	--		--	--
Huntington New Economy Fund
2001(8)	$10.00	(0.03	)(3)	0.16	0.13	--	(0.02	)(12)	--	--
2002	$10.11	(0.08	)	(1.28)	(1.36)	--	--		--	--
2003	$ 8.75	(0.07	)	3.13	3.06	--	--		(0.01)	--
2004(11)	$11.80	(0.06	)	0.85	0.79	--	--		--	--
Huntington Rotating Markets Fund
2001(7)	$10.00	(0.04	)(3)	(0.97)	(1.01)	--	--		--	--
2002	$ 8.99	(0.04	)	(1.39)	(1.43)	--	--		--	--
2003	$ 7.56	0.04		1.85	1.89	(0.04)	--		--	--
2004(11)	$ 9.41	(0.03	)	0.23	0.20	--	--		--	--
Huntington Situs Small Cap Fund
2002(9)	$10.00	--		0.22	0.22	--	--		--	--
2003	$10.22	(0.05	)	3.65	3.60	--	--		(0.01)	--
2004(11)	$13.81	(0.04	)	1.58	1.54	--	--		(0.02)	--

(1) Based on net asset value, which does not reflect a sales charge or contingent deferred sales charge, if applicable.

(2) This expense decrease is reflected in both the expense and net investment income ratios.

(3) Per share information presented is based upon the monthly average number of shares outstanding due to large fluctuations in the number of shares outstanding during the period.

(4) Not annualized.

(5) Computed on an annualized basis.

(6) Does not include the effect of expenses of underlying fund.

(7) Reflects operations for the period from May 1, 2001 (date of initial public investment) to December 31, 2001.

(8) Reflects operations for the period from March 1, 2001 (date of initial public investment) to December 31, 2001.

(9) Reflects operations for the period from September 30, 2002 (date of initial public investment) to December 31, 2002.

(10) Amount is less than $0.01.

(11) Six months ended June 30, 2004 (unaudited).

(12) Represents a return of capital for federal income tax purposes.

(13) Reflects operations for the period from April 30, 2004 (date of initial public investment) to June 30, 2004 (unaudited).

(See notes which are an integral part of the Financial Statements)

			Ratios to average net assets
Total distributions	Net Asset Value, end of period	Total return(1)	Net Expenses	Net investment income	Expense waiver reduction/ reimbursement(2)	Net Assets, end of period (000 omitted)	Portfolio turnover rate
(0.60)	$10.11	7.27%(4)	1.78%(5)	5.78%(5)	0.01%(5)	$17,089	172%
(0.49)	$ 9.62	(0.04)%	1.66%	5.04%	--	$24,361	88%
(0.45)	$11.11	20.75%	1.41%	4.54%	--	$47,464	108%
(0.34)	$11.02	2.24%(4)	1.37%(5)	4.22%(5)	--(5)	$61,284	47%
(6.72)	$49.52	13.59%	0.82%	0.57%	--	$295,268	10%
(0.77)	$50.58	3.74%	0.84%	- --	0.03%	$292,679	24%
- --	$42.11	(16.75)%	1.07%	(0.10)%	0.05%	$242,249	12%
- --	$32.72	(22.30)%	1.18%	(0.15)%	--	$189,356	15%
(0.02)	$38.96	19.15%	1.17%	0.09%	- --	$241,401	8%
- --	$40.02	2.72%(4)	1.15%(5)	0.01%(5)	--(5)	$248,277	5%
(1.43)	$36.71	(6.75)%	0.82%	2.93%	--	$225,647	20%
(1.92)	$35.29	1.51%	0.85%	3.40%	0.03%	$216,695	41%
(1.61)	$34.33	1.84%	1.05%	3.18%	0.05%	$210,870	33%
(1.15)	$28.93	(12.62)%	1.18%	3.32%	--	$176,885	29%
(2.26)	$32.58	21.00%	1.17%	3.20%	- --	$201,272	85%
(2.11)	$31.43	3.28%(4)	1.16%(5)	1.74%(5)	--(5)	$199,333	19%
(0.01)	$ 7.68	(23.11)%(4)	2.20%(5)	(0.57)%(5)	0.01%(5)	$ 24,099	121%
- --	$ 6.66	(13.28)%	1.84%	(0.14)%	--	$ 48,795	68%
(0.05)	$ 8.93	34.83%	1.66%	0.87%	- --	$ 86,795	48%
- --	$ 9.29	4.05%(4)	1.60%(5)	1.00%(5)	--(5)	$102,893	17%
- --	$10.60	6.00%(4)	1.66%(5)	(0.31)%(5)	--(5)	$ 11,026	--
(0.04)	$10.40	4.39%(4)	1.43%(5)	0.02%(5)	0.01%(5)	$ 53,001	11%
- --	$ 9.03	(13.17)%	1.42%	(0.33)%	--	$ 89,248	16%
- --	$11.86	31.34%	1.34%	(0.09)%	- --	$134,668	29%
- --	$12.68	6.91%(4)	1.33%(5)	(0.22)%(5)	--(5)	$138,696	3%
(0.02)	$10.11	1.35%(4)	1.96%(5)	(0.38)%(5)	0.02%(5)	$ 10,444	45%
- --	$ 8.75	(13.45)%	1.90%	(1.13)%	0.04%	$ 22,478	39%
(0.01)	$11.80	34.93%	1.56%	(0.79)%	- --	$ 39,364	83%
- --	$12.59	6.69%(4)	1.54%(5)	(1.05)%(5)	--(5)	$ 45,206	29%
- --	$ 8.99	(10.10)%(4)	2.06%(5)(6)	(0.58)%(5)(6)	--(5)(6)	$ 4,962	- --
- --	$ 7.56	(15.91)%	1.52%	(0.54)%	--	$ 14,740	102%
(0.04)	$ 9.41	25.00%	1.28%	0.52%	- --	$ 19,937	206%
- --	$ 9.61	2.13%(4)	1.23%(5)	(0.62)%(5)	--(5)	$ 20,068	51%
- --	$10.22	2.20%(4)	2.29%(5)	(1.30)%(5)	-- (5)	$ 13,249	9%
(0.01)	$13.81	35.18%	1.68%	(0.49)%	- --	$ 30,067	19%
(0.02)	$15.33	11.19%(4)	1.47%(5)	(0.53)%(5)	-- (5)	$ 38,373	10%

Financial Highlights

Equity Funds

(For a share outstanding throughout each period)

Year ended December 31,	Net Asset Value, beginning of period	Net investment income (operating loss)	Net realized and unrealized gain (loss) investments	Total from investment operations	Distributions to shareholders from net investment income	Distributions from paid in capital	Distributions to shareholders from net realized gain on investment transactions	Distributions in excess of net investment income
INVESTMENT A SHARES
Huntington Dividend Capture Fund
2001(7)	$10.00	0.48(3)	0.21	0.69	(0.58)	--	--	--
2002	$10.11	0.47	(0.50)	(0.03)	(0.47)	--	--	--
2003	$ 9.61	0.39	1.54	1.93	(0.43)	--	--	--
2004(11)	$11.11	0.21(3)	0.02	0.23	(0.21)	--	(0.11)	--
Huntington Growth Fund
1999	$49.76	0.18	6.12	6.30	(0.17)	--	(6.42)	--
2000	$49.47	(0.12)	1.83	1.71	--	--	(0.72)	(0.03)
2001	$50.43	(0.16)(3)	(8.40)	(8.56)	--	--	--	--
2002	$41.87	(0.15)	(9.26)	(9.41)	--	--	--	--
2003	$32.46	(0.05)	6.17	6.12	--	--	--	--
2004(11)	$38.58	(0.05)	1.05	1.00	--	--	--	--
Huntington Income Equity Fund
1999	$40.86	1.03	(3.85)	(2.82)	(1.03)	--	(0.27)	(0.02)
2000	$36.72	1.11	(0.70)	0.41	(1.14)	--	(0.68)	--
2001	$35.31	1.05	(0.49)	0.56	(1.04)	--	(0.49)	--
2002	$34.34	0.99	(5.31)	(4.32)	(0.98)	--	(0.09)	--
2003	$28.95	0.89	4.94	5.83	(0.92)	--	(1.27)	--
2004(11)	$32.59	0.24	0.69	0.93	(0.24)	--	(1.84)	--
Huntington International Equity Fund
2001(7)	$10.00	0.01(3)	(2.34)	(2.33)	(0.01)	--	--	--
2002	$ 7.66	(0.04)	(0.99)	(1.03)	--	--	--	--
2003	$ 6.63	0.04	2.24	2.28	(0.02)	--	--	--
2004(11)	$ 8.89	0.01	0.34	0.35	--	--	--	--
Huntington Macro 100 Fund
2004(12)	$10.00	--	0.59	0.59	--	--	--	--
Huntington Mid Corp America Fund
2001(7)	$10.00	(0.03)(3)	0.43	0.40	(0.02)	--	(0.01)	--
2002	$10.37	(0.04)	(1.35)	(1.39)	--	--	--	--
2003	$ 8.98	(0.02)	2.81	2.79	--	--	--	--
2004(11)	$11.77	(0.03)	0.83	0.80	--	--	--	--
Huntington New Economy Fund
2001(7)	$10.00	(0.07)(3)	0.20	0.13	--	(0.02)(9)	--	--
2002	$10.11	(0.08)	(1.31)	(1.39)	--	--	--	--
2003	$ 8.72	(0.07)	3.09	3.02	--	--	(0.01)	--
2004(11)	$11.73	(0.07)	0.84	0.77	--	--	--	--
Huntington Rotating Markets Fund
2001(6)	$10.00	(0.04)(3)	(0.99)	(1.03)	--	--	--	--
2002	$ 8.97	(0.05)	(1.39)	(1.44)	--	--	--	--
2003	$ 7.53	0.02	1.83	1.85	(0.02)	--	--	--
2004(11)	$ 9.36	(0.04)	0.23	0.19	--	--	--	--
Huntington Situs Small Cap Fund
2002(8)	$10.00	--	0.21	0.21	--	--	--	--
2003	$10.21	(0.04)	3.61	3.57	--	--	(0.01)	--
2004(11)	$13.77	(0.05)	1.57	1.52	--	--	(0.02)	--

(1) Based on net asset value, which does not reflect a sales charge or contingent deferred sales charge, if applicable.

(2) This expense decrease is reflected in both the expense and net investment income ratios.

(3) Per share information presented is based upon the monthly average number of shares outstanding due to large fluctuations in the number of shares outstanding during the period.

(4) Not annualized.

(5) Computed on an annualized basis.

(6) Reflects operations for the period from May 1, 2001 (date of initial public investment) to December 31, 2001.

(7) Reflects operations for the period from March 1, 2001 (date of initial public investment) to December 31, 2001.

(8) Reflects operations for the period from September 30, 2002 (date of initial public investment) to December 31, 2002.

(9) Represents a return of capital for federal income tax purposes.

(10) Does not include the effect of expenses of underlying fund.

(11) Six months ended June 30, 2004 (unaudited).

(12) Reflects operations for the period from April 30, 2004 (date of initial public investment) to June 30, 2004 (unaudited).

(See notes which are an integral part of the Financial Statements)

			Ratios to average net assets
Total distributions	Net Asset Value, end of period	Total return(1)	Net Expenses	Net investment income	Expense waiver reduction/ reimbursement(2)	Net Assets, end of period (000 omitted)	Portfolio turnover rate
(0.58)	$10.11	7.10%(4)	2.03%(5)	5.34%(5)	0.01%(5)	$ 1,125	172%
(0.47)	$ 9.61	(0.40)%	1.91%	4.74%	--	$ 1,337	88%
(0.43)	$11.11	20.62%	1.65%	4.24%	- --	$12,408	108%
(0.32)	$11.02	2.09%(4)	1.62%(5)	3.72%(5)	--(5)	$ 8,449	47%
(6.59)	$49.47	13.25%	1.07%	0.33%	--	$17,290	10%
(0.75)	$50.43	3.50%	1.09%	(0.24)%	0.03%	$15,665	24%
- --	$41.87	(16.97)%	1.32%	(0.36)%	0.05%	$11,899	12%
- --	$32.46	(22.47)%	1.49%	(0.42)%	--	$ 8,728	15%
- --	$38.58	18.85%	1.42%	(0.16)%	- --	$11,754	8%
- --	$39.58	2.59%(4)	1.40%(5)	(0.24)%(5)	--(5)	$11,773	5%
(1.32)	$36.72	(7.00)%	1.07%	2.68%	--	$ 1,667	20%
(1.82)	$35.31	1.27%	1.10%	3.14%	0.03%	$ 1,862	41%
(1.53)	$34.34	1.55%	1.30%	2.93%	0.05%	$ 2,053	33%
(1.07)	$28.95	(12.81)%	1.43%	3.08%	--	$ 2,007	29%
(2.19)	$32.59	20.69%	1.42%	2.85%	- --	$ 3,684	85%
(2.08)	$31.44	3.15%(4)	1.41%(5)	1.50%(5)	- --	$ 4,322	19%
(0.01)	$ 7.66	(23.32)%(4)	2.45%(5)	0.07%(5)	0.01%(5)	$ 34	121%
- --	$ 6.63	(13.45)%	2.05%	(0.66)%	--	$ 101	68%
(0.02)	$ 8.89	34.43%	1.90%	0.55%	- --	$ 505	48%
- --	$ 9.24	3.94%(4)	1.85%(5)	0.17%(5)	--(5)	$ 674	17%
- --	$10.59	5.90%(4)	1.95%(5)	(0.60)%(5)	--(5)	$ 328	--
(0.03)	$10.37	4.01%(4)	1.68%(5)	(0.35)%(5)	0.01%(5)	$ 283	11%
- --	$ 8.98	(13.40)%	1.66%	(0.55)%	--	$ 870	16%
- --	$11.77	31.07%	1.60%	(0.33)%	- --	$ 3,325	29%
- --	$12.57	6.80%(4)	1.58%(5)	(0.49)%(5)	--(5)	$ 2,997	3%
(0.02)	$10.11	1.28%(4)	2.21%(5)	(0.81)%(5)	0.02%(5)	$ 128	45%
- --	$ 8.72	(13.75)%	2.13%	(1.34)%	0.04%	$ 339	39%
(0.01)	$11.73	34.59%	1.80%	(1.03)%	- --	$ 1,154	83%
- --	$12.50	6.56%(4)	1.79%(5)	(1.29)%(5)	--(5)	$ 1,568	29%
- --	$ 8.97	(10.30)%(4)	2.31%(5)(10)	(0.63)%(5)(10)	--(5)(10)	$ 298	--
- --	$ 7.53	(16.05)%	1.78%	(0.82)%	--	$ 648	102%
(0.02)	$ 9.36	24.62%	1.54%	0.32%	- --	$ 1,258	206%
- --	$ 9.55	2.03%(4)	1.48%(5)	(0.84)%(5)	--(5)	$ 1,443	51%
- --	$10.21	2.10%(4)	2.25%(5)	(1.41)%(5)	--(5)	$ 10	9%
(0.01)	$13.77	34.92%	1.87%	(0.75)%	--	$ 499	19%
(0.02)	$15.27	11.08%(4)	1.72%(5)	(0.77)%(5)	--(5)	$ 867	10%

Financial Highlights

Equity Funds

(For a share outstanding throughout each period)

Year ended December 31,	Net Asset Value, beginning of period	Net investment income (operating loss)	Net realized and unrealized gain (loss) investments	Total from investment operations	Distributions to shareholders from net investment income	Distributions from paid in capital	Distributions to shareholders from net realized gain on investment transactions
INVESTMENT B SHARES
Huntington Dividend Capture Fund
2001(7)	$10.00	0.44(3)	0.20	0.64	(0.54)	--	--
2002	$10.10	0.42	(0.49)	(0.07)	(0.42)	--	--
2003	$ 9.61	0.37	1.50	1.87	(0.38)	--	--
2004(10)	$11.10	0.19	0.02	0.21	(0.19)	--	(0.11)
Huntington Growth Fund
2000(6)	$50.06	(0.04)	0.87	0.83	--	--	(0.72)
2001	$50.17	(0.40)(3)	(8.33)	(8.73)	--	--	--
2002	$41.44	(0.24)	(9.24)	(9.48)	--	--	--
2003	$31.96	(0.19)	6.02	5.83	--	--	--
2004(10)	$37.79	(0.14)	1.03	0.89	--	--	--
Huntington Income Equity Fund
2000(6)	$35.83	0.53	0.21	0.74	(0.69)	--	(0.68)
2001	$35.20	0.83	(0.46)	0.37	(0.79)	--	(0.49)
2002	$34.29	0.82	(5.30)	(4.48)	(0.84)	--	(0.09)
2003	$28.88	0.74	4.93	5.67	(0.79)	--	(1.27)
2004(10)	$32.49	0.16	0.69	0.85	(0.16)	--	(1.84)
Huntington International Equity Fund
2001(7)	$10.00	(0.13)(3)	(2.22)	(2.35)	(0.01)	--	--
2002	$ 7.64	(0.04)	(1.02)	(1.06)	--	--	--
2003	$ 6.58	--	2.22	2.22	(0.01)	--	--
2004(10)	$ 8.79	0.01	0.31	0.32	--	--	--
Huntington Macro 100 Fund
2004(11)	$10.00	(0.01)	0.60	0.59	--	--	--
Huntington Mid Corp America Fund
2001(7)	$10.00	(0.08)(3)	0.44	0.36	(0.01)	--	(0.01)
2002	$10.34	(0.07)	(1.36)	(1.43)	--	--	--
2003	$ 8.91	(0.07)	2.78	2.71	--	--	--
2004(10)	$11.62	(0.06)	0.81	0.75	--	--	--
Huntington New Economy Fund
2001(7)	$10.00	(0.13)(3)	0.19	0.06	--	(0.01)(9)	--
2002	$10.05	(0.14)	(1.28)	(1.42)	--	--	--
2003	$ 8.63	(0.13)	3.07	2.94	--	--	(0.01)
2004(10)	$11.56	(0.10)	0.82	0.72	--	--	--
Huntington Situs Small Cap Fund
2002(8)	$10.00	--	0.20	0.20	--	--	--
2003	$10.20	(0.08)	3.57	3.49	--	--	(0.01)
2004(10)	$13.68	(0.09)(3)	1.56	1.47	--	--	(0.02)

(1) Based on net asset value, which does not reflect a sales charge or contingent deferred sales charge, if applicable.

(2) This expense decrease is reflected in both the expense and net investment income ratios.

(3) Per share information presented is based upon the monthly average number of shares outstanding due to large fluctuations in the number of shares outstanding during the period.

(4) Not annualized.

(5) Computed on an annualized basis.

(6) Reflects operations for the period from May 1, 2000 (date of initial public investment) to December 31, 2000.

(7) Reflects operations for the period from March 1, 2001 (date of initial public investment) to December 31, 2001.

(8) Reflects operations for the period from September 30, 2002 (date of initial public investment) to December 31, 2002.

(9) Represents a return of capital for federal income tax purposes.

(10) Six months ended June 30, 2004 (unaudited).

(11) Reflects operations for the period from April 30, 2004 (date of initial public investment) to June 30, 2004 (unaudited).

(See notes which are an integral part of the Financial Statements)

			Ratios to average net assets
Total distributions	Net Asset Value, end of period	Total return(1)	Net Expenses	Net investment income	Expense waiver reduction/ reimbursement(2)	Net Assets, end of period (000 omitted)	Portfolio turnover rate
(0.54)	$10.10	6.57%(4)	2.54%(5)	4.80%(5)	--(5)	$ 1,920	172%
(0.42)	$ 9.61	(0.78)%	2.41%	4.42%	- --	$ 5,001	88%
(0.38)	$11.10	19.90%	2.16%	3.78%	- --	$12,374	108%
(0.30)	$11.01	1.87%(4)	2.12%(5)	3.42%(5)	--(5)	$14,426	47%
(0.72)	$50.17	1.70%(4)	1.86%(5)	(0.89)%(5)	--(5)	$ 87	24%
- --	$41.44	(17.40)%	1.87%	(0.92)%	- --	$ 1,634	12%
- --	$31.96	(22.88)%	1.93%	(0.88)%	- --	$ 3,084	15%
- --	$37.79	18.24%	1.92%	(0.65)%	- --	$ 5,220	8%
- --	$38.68	2.36%(4)	1.90%(5)	(0.74)%(5)	--(5)	$ 5,986	5%
(1.37)	$35.20	2.16%(4)	1.96%(5)	2.25%(5)	--(5)	$ 1	41%
(1.28)	$34.29	1.04%	1.85%	2.15%	- --	$ 909	33%
(0.93)	$28.88	(13.27)%	1.93%	2.67%	- --	$ 3,802	29%
(2.06)	$32.49	20.08%	1.92%	2.38%	- --	$ 6,534	85%
(2.00)	$31.34	2.92%(4)	1.91%(5)	1.00%(5)	--(5)	$ 8,339	19%
(0.01)	$ 7.64	(23.55)%(4)	2.96%(5)	(1.80)%(5)	--(5)	$ 77	121%
- --	$ 6.58	(13.87)%	2.59%	(0.88)%	- --	$ 179	68%
(0.01)	$ 8.79	33.77%	2.41%	0.02%	- --	$ 405	48%
- --	$ 9.11	3.64%(4)	2.35%(5)	0.27%(5)	--(5)	$ 530	17%
- --	$10.59	5.90%(4)	2.45%(5)	(1.13)%(5)	--(5)	$ 311	--
(0.02)	$10.34	3.58%(4)	2.19%(5)	(0.92)%(5)	--(5)	$ 1,097	11%
- --	$ 8.91	(13.83)%	2.16%	(1.06)%	- --	$ 3,082	16%
- --	$11.62	30.42%	2.09%	(0.84)%	- --	$ 5,439	29%
- --	$12.37	6.45%(4)	2.08%(5)	(0.97)%(5)	--(5)	$ 6,495	3%
(0.01)	$10.05	0.57%(4)	2.73%(5)	(1.52)%(5)	--(5)	$ 460	45%
- --	$ 8.63	(14.13)%	2.65%	(1.88)%	0.04%	$ 908	39%
(0.01)	$11.56	34.02%	2.30%	(1.53)%	- --	$ 1,642	83%
- --	$12.28	6.23%(4)	2.29%(5)	(1.80)%(5)	--(5)	$ 2,050	29%
- --	$10.20	2.00%(4)	3.00%(5)	(2.05)%(5)	--(5)	$ 88	9%
(0.01)	$13.68	34.17%	2.40%	(1.25)%	- --	$ 555	19%
(0.02)	$15.13	10.79%(4)	2.21%(5)	(1.26)%(5)	--(5)	$ 1,140	10%

Financial Highlights

Fixed Income Funds

(For a share outstanding throughout each period)

Year ended December 31,	Net Asset Value, beginning of period	Net investment income (operating loss)	Net realized and unrealized gain (loss) investments	Total from investment operations	Distributions to shareholders from net investment income	Distributions to shareholders from net realized gain on investment transactions	Total distributions
TRUST SHARES
Huntington Fixed Income Securities Fund
1999	$21.78	1.23	(2.05)	(0.82)	(1.22)	--	(1.22)
2000	$19.74	1.29	0.53	1.82	(1.31)	--	(1.31)
2001	$20.25	1.12	0.12	1.24	(1.11)	--	(1.11)
2002	$20.77	0.98	(0.52)	1.50	(1.00)	--	(1.00)
2003	$21.27	0.82	0.16	0.98	(0.83)	--	(0.83)
2004(9)	$21.42	0.37	(0.45)	(0.08)	(0.37)	--	(0.37)
Huntington Intermediate Government Income Fund
1999	$10.42	0.55	(0.66)	(0.11)	(0.55)	--	(0.55)
2000	$ 9.76	0.57	0.47	1.04	(0.58)	--	(0.58)
2001	$10.22	0.54(3)	0.01	0.55	(0.52)	--	(0.52)
2002	$10.43	0.46	0.50	0.96	(0.47)	--	(0.47)
2003	$10.92	0.37	(0.23)	0.14	(0.39)	(0.02)	(0.41)
2004(9)	$10.65	0.18	(0.21)	(0.03)	(0.19)	(0.04)	(0.23)
Huntington Michigan Tax-Free Fund
1999	$10.99	0.49	(0.55)	(0.06)	(0.49)	--	(0.49)
2000	$10.44	0.48	0.29	0.77	(0.49)	(0.01)	(0.50)
2001	$10.71	0.43	(0.02)	0.41	(0.42)	(0.24)	(0.66)
2002	$10.46	0.34	0.50	0.84	(0.35)	(0.03)	(0.38)
2003	$10.92	0.28	0.10	0.38	(0.29)	(0.05)	(0.34)
2004(9)	$10.96	0.13	(0.26)	(0.13)	(0.13)	(0.01)	(0.14)
Huntington Mortgage Securities Fund
1999	$ 8.25	0.47	(0.39)	0.08	(0.47)	--	(0.47)
2000	$ 7.86	0.49	0.25	0.74	(0.49)	--	(0.49)
2001	$ 8.11	0.44	0.20	0.64	(0.43)	--	(0.43)
2002	$ 8.32	0.38	0.24	0.62	(0.39)	--	(0.39)
2003	$ 8.55	0.24	0.35	0.59	(0.32)	--	(0.32)
2004(9)	$ 8.82	0.15	(0.08)	0.07	(0.12)	--	(0.12)
Huntington Ohio Tax-Free Fund
1999	$21.83	0.95	(1.15)	(0.20)	(0.94)	(0.01)	(0.95)
2000	$20.68	0.97	0.64	1.61	(0.97)	--	(0.97)
2001	$21.32	0.84	(0.08)	0.76	(0.84)	(0.29)	(1.13)
2002	$20.95	0.73	0.96	1.69	(0.73)	(0.04)	(0.77)
2003	$21.87	0.60	0.14	0.74	(0.60)	(0.11)	(0.71)
2004(9)	$21.90	0.29	(0.50)	(0.21)	(0.29)	(0.01)	(0.30)
Huntington Short/Intermediate Fixed Income Securities Fund
1999	$20.13	1.10	(0.90)	0.20	(1.09)	--	(1.09)
2000	$19.24	1.16	0.29	1.45	(1.17)	--	(1.17)
2001	$19.52	1.07	(0.13)	0.94	(1.06)	--	(1.06)
2002	$19.77	0.87	0.11	0.98	(0.88)	--	(0.88)
2003	$19.87	0.62	0.01	0.63	(0.62)	--	(0.62)
2004(9)	$19.88	0.25	(0.32)	(0.07)	(0.25)	--	(0.25)

(1) Based on net asset value, which does not reflect a sales charge or contingent deferred sales charge, if applicable.

(2) This expense decrease is reflected in both the expense and net investment income ratios.

(3) Per share information presented is based upon the monthly average number of shares outstanding due to large fluctuations in the number of shares outstanding during the period.

(4) Not annualized.

(5) Computed on an annualized basis.

(6) Total return would have been 6.37% without the payments by affiliates. See note L of Notes to Financial Statements.

(7) Total return would have been 5.52% without the payments by affiliates. See note L of Notes to Financial Statements.

(8) Total return would have been 4.95% without the payments by affiliates. See note L of Notes to Financial Statements.

(9) Six months ended June 30, 2004 (unaudited).

(See notes which are an integral part of the Financial Statements)

				Ratios to average net assets
Payments by affiliates	Net Asset Value, end of period	Total return(1)		Net Expenses		Net investment income		Expense waiver reduction/ reimbursement(2)		Net assets, end of period (000 omitted)	Portfolio turnover rate
- --	$19.74	(3.84	)%	0.74	%	5.99	%	- --		$150,787	44%
- --	$20.25	9.56	%	0.76	%	6.53	%	0.03	%	$157,978	28%
0.39	$20.77	8.30	%(6)	0.97	%	5.44	%	0.04	%	$149,588	149%
- --	$21.27	7.45	%	1.08	%	4.74	%	- --		$146,976	54%
- --	$21.42	4.65	%	1.08	%	3.78	%	- --		$166,215	73%
- --	$20.97	(0.38	)%(4)	1.07	%(5)	3.47	%(5)	- --	(5)	$159,148	25%
- --	$ 9.76	(1.09	)%	0.73	%	5.45	%	0.05	%	$ 99,566	14%
- --	$10.22	11.03	%	0.77	%	5.77	%	0.04	%	$ 75,342	24%
0.18	$10.43	7.28	%(7)	0.99	%	5.05	%	0.05	%	$ 69,700	64%
- --	$10.92	9.46	%	1.10	%	4.38	%	- --		$ 81,232	60%
- --	$10.65	1.34	%	1.10	%	3.45	%	- --		$ 81,671	78%
- --	$10.39	(0.34	)%(4)	1.10	%(5)	3.44	%(5)	- --	(5)	$ 80,379	16%
- --	$10.44	(0.54	)%	0.74	%	4.57	%	0.07	%	$ 20,809	6%
- --	$10.71	7.53	%	0.83	%	4.60	%	0.05	%	$ 16,392	--
- --	$10.46	3.89	%	1.08	%	3.93	%	0.05	%	$ 16,374	100%
- --	$10.92	8.15	%	1.33	%	3.24	%	- --		$ 18,268	27%
- --	$10.96	3.57	%	1.27	%	2.66	%	- --		$ 23,854	17%
- --	$10.69	(1.19	)%(4)	1.28	%(5)	2.47	%(5)	- --	(5)	$ 22,928	15%
- --	$ 7.86	1.01	%	0.95	%	5.81	%	0.20	%	$ 32,193	20%
- --	$ 8.11	9.87	%	0.76	%	6.24	%	0.09	%	$ 31,849	9%
- --	$ 8.32	8.14	%	1.03	%	5.37	%	0.05	%	$ 35,938	25%
- --	$ 8.55	7.61	%	1.19	%	4.46	%	- --		$ 46,313	63%
- --	$ 8.82	7.02	%	1.14	%	2.82	%	- --		$ 43,928	71%
- --	$ 8.77	0.79	%(4)	1.16	%(5)	3.49	%(5)	- --	(5)	$ 50,470	22%
- --	$20.68	(0.92	)%	0.82	%	4.44	%	- --		$ 52,723	11%
- --	$21.32	8.01	%	0.85	%	4.62	%	0.03	%	$ 48,408	1%
- --	$20.95	3.60	%	1.00	%	3.95	%	0.05	%	$ 42,276	39%
- --	$21.87	8.20	%	1.17	%	3.39	%	- --		$ 52,160	28%
- --	$21.90	3.42	%	1.16	%	2.72	%	- --		$ 55,450	20%
- --	$21.39	(0.99	)%(4)	1.15	%(5)	2.66	%(5)	- --	(5)	$ 57,918	5%
- --	$19.24	1.05	%	0.73	%	5.60	%	- --		$113,341	92%
- --	$19.52	7.83	%	0.73	%	6.01	%	0.03	%	$115,511	29%
0.37	$19.77	6.84	%(8)	0.93	%	5.39	%	0.05	%	$113,552	65%
- --	$19.87	5.08	%	1.07	%	4.41	%	- --		$121,093	58%
- --	$19.88	3.18	%	1.07	%	3.05	%	- --		$155,883	51%
- --	$19.56	(0.37	)%(4)	1.06	%(5)	2.53	%(5)	- --	(5)	$156,360	26%

Financial Highlights

Fixed Income Funds

(For a share outstanding throughout each period)

Year ended December 31,	Net Asset Value, beginning of period	Net investment income (operating loss)	Net realized and unrealized gain (loss) investments	Total from investment operations	Distributions to shareholders from net investment income	Distributions to shareholders from net realized gain on investment transactions	Total distributions
INVESTMENT A SHARES
Huntington Fixed Income Securities Fund
1999	$21.78	1.08	(1.95)	(0.87)	(1.17)	--	(1.17)
2000	$19.74	1.24	0.53	1.77	(1.26)	--	(1.26)
2001	$20.25	1.12	0.07	1.19	(1.06)	--	(1.06)
2002	$20.77	0.94	0.50	1.44	(0.95)	--	(0.95)
2003	$21.26	0.76	0.17	0.93	(0.77)	--	(0.77)
2004(9)	$21.42	0.35	(0.45)	(0.10)	(0.35)	--	(0.35)
Huntington Intermediate Government Income Fund
1999	$10.42	0.54	(0.68)	(0.14)	(0.52)	--	(0.52)
2000	$ 9.76	0.54	0.47	1.01	(0.55)	--	(0.55)
2001	$10.22	0.51(3)	0.01	0.52	(0.49)	--	(0.49)
2002	$10.43	0.44	0.50	0.94	(0.45)	--	(0.45)
2003	$10.92	0.35	(0.23)	0.12	(0.37)	(0.02)	(0.39)
2004(9)	$10.65	0.17	(0.21)	(0.04)	(0.18)	(0.04)	(0.22)
Huntington Michigan Tax-Free Fund
1999	$10.99	0.46	(0.55)	(0.09)	(0.46)	--	(0.46)
2000	$10.44	0.46	0.28	0.74	(0.46)	(0.01)	(0.47)
2001	$10.71	0.39	(0.01)	0.38	(0.39)	(0.24)	(0.63)
2002	$10.46	0.32	0.50	0.82	(0.32)	(0.03)	(0.35)
2003	$10.93	0.26	0.09	0.35	(0.27)	(0.05)	(0.32)
2004(9)	$10.96	0.12	(0.26)	(0.14)	(0.12)	(0.01)	(0.13)
Huntington Mortgage Securities Fund
1999	$ 8.27	0.45	(0.38)	0.07	(0.45)	--	(0.45)
2000	$ 7.89	0.49	0.23	0.72	(0.47)	--	(0.47)
2001	$ 8.14	0.42	0.20	0.62	(0.41)	--	(0.41)
2002	$ 8.35	0.36	0.24	0.60	(0.37)	--	(0.37)
2003	$ 8.58	0.17	0.39	0.56	(0.28)	--	(0.28)
2004(9)	$ 8.86	0.14	(0.08)	0.06	(0.11)	--	(0.11)
Huntington Ohio Tax-Free Fund
1999	$21.82	0.87	(1.12)	(0.25)	(0.89)	(0.01)	(0.90)
2000	$20.67	0.92	0.64	1.56	(0.92)	--	(0.92)
2001	$21.31	0.79	(0.08)	0.71	(0.79)	(0.29)	(1.08)
2002	$20.94	0.68	0.96	1.64	(0.68)	(0.04)	(0.72)
2003	$21.86	0.54	0.13	0.67	(0.54)	(0.11)	(0.65)
2004(9)	$21.88	0.26	(0.49)	(0.23)	(0.26)	(0.01)	(0.27)
Huntington Short/Intermediate Fixed Income Securities Fund
2003(8)	$20.08	0.32	(0.19)	0.13	(0.32)	--	(0.32)
2004(9)	$19.89	0.22	(0.33)	(0.11)	(0.22)	--	(0.22)

(1) Based on net asset value, which does not reflect a sales charge or contingent deferred sales charge, if applicable.

(2) This expense decrease is reflected in both the expense and net investment income ratios.

(3) Per share information presented is based upon the monthly average number of shares outstanding due to large fluctuations in the number of shares outstanding during the period.

(4) Not annualized.

(5) Computed on an annualized basis.

(6) Total return would have been 6.11% without the payments by affiliates. See note L of Notes to Financial Statements.

(7) Total return would have been 5.25% without the payments by affiliates. See note L of Notes to Financial Statements.

(8) Reflects operations for the period from May 9, 2003 (date of initial public investment) to December 31, 2003.

(9) Six months ended June 30, 2004 (unaudited).

(See notes which are an integral part of the Financial Statements)

				Ratios to average net assets
Payments by affiliates	Net Asset, Value, end of period	Total return(1)		Net Expenses		Net investment income		Expense waiver reduction/ reimbursement(2)		Net Assets, end of period (000 omitted)	Portfolio turnover rate
--	$19.74	(4.07	)%	1.06	%	5.65	%	--		$ 1,293	44%
--	$20.25	9.27	%	1.01	%	6.29	%	0.02	%	$ 1,132	28%
0.39	$20.77	8.04	%(6)	1.22	%	5.18	%	0.04	%	$ 1,205	149%
--	$21.26	7.14	%	1.33	%	4.47	%	--		$ 1,512	54%
--	$21.42	4.43	%	1.33	%	3.47	%	--		$ 2,532	73%
--	$20.97	(0.50	)%(4)	1.32	%(5)	3.22	%(5)	--	(5)	$ 2,489	25%
--	$ 9.76	(1.33	)%	0.74	%	5.46	%	0.04	%	$ 2,055	14%
--	$10.22	10.74	%	1.02	%	5.52	%	0.04	%	$ 1,705	24%
0.18	$10.43	7.01	%(7)	1.24	%	4.80	%	0.05	%	$ 1,706	64%
--	$10.92	9.17	%	1.35	%	3.89	%	--		$ 6,766	60%
--	$10.65	1.09	%	1.35	%	3.18	%	--		$ 7,486	78%
--	$10.39	(0.46	)%(4)	1.35	%(5)	3.21	%(5)	--	(5)	$ 4,915	16%
--	$10.44	(0.77	)%	0.98	%	4.33	%	0.07	%	$ 7,183	6%
--	$10.71	7.27	%	1.09	%	4.34	%	0.05	%	$ 6,059	--
--	$10.46	3.63	%	1.33	%	3.70	%	0.05	%	$ 5,023	100%
--	$10.93	7.98	%	1.58	%	2.99	%	--		$ 5,209	27%
--	$10.96	3.21	%	1.52	%	2.40	%	--		$ 6,241	17%
--	$10.69	(1.32	)%(4)	1.53	%(5)	2.22	%(5)	--	(5)	$ 6,143	15%
--	$ 7.89	0.88	%	1.45	%	5.54	%	0.45	%	$ 1,025	20%
--	$ 8.14	9.55	%	1.01	%	6.01	%	0.19	%	$ 779	9%
--	$ 8.35	7.85	%	1.28	%	5.12	%	0.05	%	$ 826	25%
--	$ 8.58	7.30	%	1.44	%	4.07	%	--		$ 2,859	63%
--	$ 8.86	6.71	%	1.37	%	2.74	%	--		$ 1,214	71%
--	$ 8.81	0.65	%(4)	1.41	%(5)	3.22	%(5)	--	(5)	$ 1,199	22%
--	$20.67	(1.17	)%	1.07	%	4.44	%	--		$ 1,310	11%
--	$21.31	7.73	%	1.10	%	4.37	%	0.03	%	$ 1,119	1%
--	$20.94	3.35	%	1.25	%	3.63	%	0.04	%	$ 1,923	39%
--	$21.86	7.94	%	1.43	%	3.11	%	--		$ 3,292	28%
--	$21.88	3.11	%	1.41	%	2.45	%	--		$ 5,913	20%
--	$21.38	(1.07	)%(4)	1.40	%(5)	2.41	%(5)	--	(5)	$ 5,252	5%
--	$19.89	0.65	%(4)	1.31	%(5)	2.47	%(5)	--	(5)	$ 8,061	51%
--	$19.56	(0.54	)%(4)	1.31	%(5)	2.29	%(5)	--	(5)	$ 5,238	26%

Financial Highlights

Fixed Income Funds

(For a share outstanding throughout each period)

Year ended December 31,	Net Asset Value, beginning of period	Net investment income (operating loss)	Net realized and unrealized gain (loss) investments	Total from investment operations	Distributions to shareholders from net investment income	Distributions to shareholders from net realized gain on investment transactions	Total distributions
INVESTMENT B SHARES
Huntington Fixed Income Securities Fund
2000 (6)	$19.56	0.75	0.73	1.48	(0.79)	--	(0.79)
2001	$20.25	0.63	0.44	1.07	(0.96)	--	(0.96)
2002	$20.75	0.83	0.50	1.33	(0.85)	--	(0.85)
2003	$21.23	0.65	0.17	0.82	(0.66)	--	(0.66)
2004 (11)	$21.39	0.29	(0.45)	(0.16)	(0.29)	--	(0.29)
Huntington Intermediate Government Income Fund
2003 (7)	$10.99	0.17	(0.30)	(0.13)	(0.18)	(0.02)	(0.20)
2004 (11)	$10.66	0.14	(0.21)	(0.07)	(0.15)	(0.04)	(0.19)
Huntington Michigan Tax-Free Fund
2003 (8)	$11.11	0.12	(0.11)	0.01	(0.12)	(0.05)	(0.17)
2004 (11)	$10.95	0.09	(0.26)	(0.17)	(0.09)	(0.01)	(0.10)
Huntington Mortgage Securities Fund
2003 (9)	$ 8.70	0.13	0.17	0.30	(0.17)	--	(0.17)
2004 (11)	$ 8.83	0.11	(0.08)	0.03	(0.09)	--	(0.09)
Huntington Ohio Tax-Free Fund
2003 (10)	$21.97	0.27	0.02	0.29	(0.27)	(0.11)	(0.38)
2004 (11)	$21.88	0.21	(0.49)	(0.28)	(0.21)	(0.01)	(0.22)

(1) Based on net asset value, which does not reflect a sales charge or contingent deferred sales charge, if applicable.

(2) This expense decrease is reflected in both the expense and net investment income ratios.

(3) Not annualized.

(4) Computed on an annualized basis.

(5) Total return would have been 5.46% without the payments by affiliates. See note L of Notes to Financial Statements.

(6) Reflects operations for the period from May 1, 2000 (date of initial public investment) to December 31, 2000.

(7) Reflects operations for the period from May 12, 2003 (date of initial public investment) to December 31, 2003.

(8) Reflects operations for the period from May 19, 2003 (date of initial public investment) to December 31, 2003.

(9) Reflects operations for the period from May 13, 2003 (date of initial public investment) to December 31, 2003.

(10) Reflects operations for the period from May 2, 2003 (date of initial public investment) to December 31, 2003.

(11) Six months ended June 30, 2004 (unaudited).

(See notes which are an integral part of the Financial Statements)

					Ratios to average net assets
Payments by affiliates	Net Asset, Value, end of period	Total return(1)		Net Expenses		Net investment income		Expense waiver reduction/ reimbursement(2)		Net Assets, end of period (000 omitted)	Portfolio turnover rate
--	$20.25	7.72	%(3)	1.68	%(4)	5.73	%(4)	--	(4)	$ 2	28%
0.39	$20.75	7.39	%(5)	1.76	%	4.39	%	--		$ 472	149%
--	$21.23	6.59	%	1.82	%	3.88	%	--		$1,852	58%
--	$21.39	3.92	%	1.83	%	2.99	%	--		$3,212	73%
--	$20.94	(0.75	)%(3)	1.82	%(4)	2.73	%(4)	--	(4)	$3,209	25%
--	$10.66	(1.13	)%(3)	1.86	%(4)	2.41	%(4)	--	(4)	$ 492	78%
--	$10.40	(0.70	)%(3)	1.85	%(4)	2.69	%(4)	--	(4)	$ 449	16%
--	$10.95	0.09	%(3)	2.03	%(4)	1.68	%(4)	--	(4)	$ 580	17%
--	$10.68	(1.57	)%(3)	2.03	%(4)	1.71	%(4)	--	(4)	$ 769	15%
--	$ 8.83	3.47	%(3)	1.93	%(4)	1.14	%(4)	--	(4)	$ 280	71%
--	$ 8.77	0.34	%(3)	1.90	%(4)	2.72	%(4)	--	(4)	$ 399	22%
--	$21.88	1.32	%(3)	1.93	%(4)	1.86	%(4)	--	(4)	$1,685	20%
--	$21.38	(1.32	)%(3)	1.90	%(4)	1.90	%(4)	--	(4)	$1,685	5%

Combined Notes to Financial Statements

June 30, 2004 (Unaudited)

(1) Organization

The Huntington Funds (the "Trust"), established under the laws of the Commonwealth of Massachusetts on February 10, 1987, is registered under the Investment Company Act of 1940, as amended (the "Act"), as an open-end management investment company. The Trust changed its name from The Monitor Funds to The Huntington Funds on January 1, 1999. The Trust operates nineteen 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 (individually referred to as a "Fund," or collectively as the "Funds"):

Funds	Investment Share Classes Offered
Huntington Florida Tax-Free Money Fund ("Florida Tax-Free Money")	Trust & A
Huntington Money Market Fund ("Money Market")	Trust, A, B & Interfund
Huntington Ohio Municipal Money Market Fund ("Ohio Municipal Money Market")	Trust & A
Huntington U.S. Treasury Money Market Fund ("U.S. Treasury Money Market")	Trust & A
Huntington Dividend Capture Fund ("Dividend Capture")	Trust, A & B
Huntington Growth Fund ("Growth")	Trust, A & B
Huntington Income Equity Fund ("Income Equity")	Trust, A & B
Huntington International Equity Fund ("International Equity")	Trust, A & B
Huntington Macro 100 Fund ("Macro 100")	Trust, A & B
Huntington Mid Corp America Fund ("Mid Corp America")	Trust, A & B
Huntington New Economy Fund ("New Economy")	Trust, A & B
Huntington Rotating Markets Fund ("Rotating Markets")	Trust & A
Huntington Situs Small Cap Fund ("Situs Small Cap")	Trust, A & B
Huntington Fixed Income Securities Fund ("Fixed Income")	Trust, A & B
Huntington Intermediate Government Income Fund ("Intermediate Government Income")	Trust, A & B
Huntington Michigan Tax-Free Fund ("Michigan Tax-Free")	Trust, A & B
Huntington Mortgage Securities Fund ("Mortgage Securities")	Trust, A & B
Huntington Ohio Tax-Free Fund ("Ohio Tax-Free")	Trust, A & B
Huntington Short/Intermediate Fixed Income Securities Fund ("Short/Intermediate Fixed Income")	Trust & A

Each class of shares has exclusive voting rights with respect to matters that affect just that class.

Under the Trust's organizational documents, its officers and Board of Trustees ("Trustees") are indemnified against certain liabilities arising out of the performance of their duties to the Funds. In addition, in the normal course of business, the Trust enters into contracts with vendors and others that provide for general indemnifications. The Trust's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust. However, based on experience, the Trust expects that risk of loss to be remote.

(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

The price at which the Funds will offer or redeem Shares is the net asset value ("NAV") per Share next determined after the order is considered received, subject to any applicable front end or contingent deferred sales charges. The Trust calculates NAV for each of the Funds (other than the Money Market Funds) by valuing securities held based on market value. Specifically, investments in securities traded on a national securities exchange or reported on the NASDAQ National Market System (other than U.S. government obligations held by Mortgage Securities, which are valued at the mean between the over-the-counter bid and asked prices furnished by an independent pricing service) are valued at the last reported sales price on the principal exchange as furnished by an independent pricing service on the day of valuation. If there is no reported sale on the principal exchange, and in the case of over-the-counter securities not included in the NASDAQ National Market System, investment securities are valued at a bid price furnished by the 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 market 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 NAV.

Investments of the money market funds are valued at amortized cost, which approximates market value. Under the amortized cost method, premium or discount, if any, is amortized or accreted, respectively, on a constant (straightline) basis to the maturity of the security.

In cases where market prices for portfolio securities are not readily available, a Pricing Committee established and appointed by the Trustees determines in good faith, subject to Trust procedures, the fair value of portfolio securities held by a Fund ("good faith fair valuation"). Sometimes a significant event occurring in the period between the close of a particular portfolio security's market and the time at which a Fund calculates its NAV affects the security's value such that its market value cannot be considered "readily available." The Pricing Committee uses reasonable means to identify such potentially significant events, evaluates such events' effect on the value of portfolio securities as compared to the market prices received from pricing sources that may not reflect such events, and makes good faith fair valuations of portfolio securities when significant events affect security valuation.

When a good faith valuation of a security is required, consideration is generally given to a checklist of factors, including, but not limited to the following: dealer quotes, published analyses by dealers or analysts of the situation at issue, transactions implicitly valuing the security (such as a merger, tender offer, etc.), the value of other securities or contracts which derive their value from the security at issue, and the implications (whether negative or positive) of the circumstances which have caused trading in the security to halt. The final good faith valuation of a security is based on an analysis of those factors deemed relevant to the security valuation at issue. With respect to certain narrow categories of securities, the Pricing Committee's procedures detail specific valuation methodologies to be used in lieu of considering the aforementioned list of factors.

B. Repurchase Agreements

The Funds may enter into repurchase agreements with banks and other recognized financial institutions, such as broker/dealers, which are deemed by the Funds' investment adviser, Huntington Assets Advisors, Inc. ("Advisor") to be creditworthy pursuant to the guidelines and/or standards reviewed or established by the Trustees. It is the policy of the Funds to require the custodian bank to take possession of, 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 transaction. If the counterparty defaults and the fair value of the collateral declines, realization of the collateral by the Funds may be delayed or limited.

C. Dividends and Distributions to Shareholders

Dividends from net investment income are declared daily and paid monthly except the Dividend Capture, Income Equity, and Mortgage Securities, which declare and pay dividends monthly and Growth, International Equity, Macro 100, Mid Corp America, New Economy, Rotating Markets, and Situs Small Cap which declare and pay dividends, if any, annually. Dividends are declared separately for each class. No class has preferential rights; differences in per share dividend rates are generally due to differences in separate class expenses. Net realized capital gains, if any, are distributed at least annually.

The amount of dividends from net investment income and net realized gains are determined in accordance with the federal income tax regulations, which may differ from GAAP. These "book/tax" differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature (e.g. reclassification of market discounts, gain/loss, paydowns, and distributions), such amounts are reclassified within the capital accounts based on their nature for federal income tax purposes; temporary differences do not require reclassification.

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.

Distributions are determined in accordance with federal income tax regulations and may differ from generally accepted accounting principles. Differences may be temporary or permanent. Permanent differences are reclassified within the capital accounts based upon their nature for federal income tax purposes. These reclassifications have no impact on the net assets of the Funds. Temporary differences will reverse in a subsequent period and do not require reclassification. These differences are primarily due to market discount, gain/loss, paydowns, capital loss carryforwards, and losses deferred due to wash sales.

E. Allocation of Expenses, Income, and Gains and Losses

Expenses directly attributable to a Fund are charged to that Fund. Expenses not directly attributable to a Fund are allocated proportionally among various Funds or all Funds within the Trust in relation to the net assets of each Fund or on another reasonable basis. Expenses specific to a class are charged to that class.

Income and realized and unrealized gains or losses on investments are allocated to each class of shares based on its relative net assets. For the daily dividend Funds, the allocation is now on the settled shares method.

F. When-Issued and Delayed Transactions

The Funds may engage in when-issued or delayed delivery transactions. The Funds record when-issued securities on the trade date and maintain security positions such that sufficient liquid assets will be available to make payment for the securities purchased. Securities purchased on a when-issued or delayed delivery basis are marked to market daily and begin earning interest on the settlement date. Losses may occur on these transactions due to changes in market conditions or the failure of counterparties to perform under the contract.

G. Foreign Exchange Contracts

International Equity, Rotating Markets and Situs Small Cap may enter into foreign currency commitments for the delayed delivery of securities or foreign currency exchange transactions. International Equity, Rotating Markets and Situs Small Cap may enter into foreign currency contract transactions to protect assets against adverse changes in foreign currency exchange rates or exchange control regulations. Purchase contracts are used to acquire exposure to foreign currencies; whereas, contracts to sell are used to hedge the securities against currency fluctuations. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their commitments and from unanticipated movements in security prices or foreign exchange rates. The foreign currency translations are adjusted by the daily exchange rate of the underlying currency and any gains or losses are recorded for financial statement purposes as unrealized until the settlement date. At June 30, 2004, Interna tional Equity, Rotating Markets and Situs Small Cap had no outstanding foreign currency commitments.

H. Foreign Currency Translation

Investment valuations, other assets and liabilities initially expressed in foreign currencies are converted each business day into U.S. dollars based upon current exchange rates. Purchases and sales of foreign investments and income expenses are converted into U.S. dollars based upon exchange rates prevailing on the respective dates of such transactions. International Equity does not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss from investments.

I. Written Options Contracts

Certain of the Funds may write options contracts for which premiums received are recorded as liabilities and are subsequently adjusted to the current value of the options written. Premiums received from writing options which expire are treated as realized gains. Premiums received from writing options which are either exercised or closed are offset against the proceeds received or amount paid on the transaction to determine realized gains or losses.

The following is a summary of Income Equity's written option activity for the six months ended June 30, 2004.

Contracts	Number of Contracts		Premium
Outstanding at 12/31/2003	3,137		$	329,316
Options written	20,693			1,462,966
Options expired	(2,204	)		(145,912	)
Options closed	(11,254	)		(1,053,824	)
Options exercised	(1,606	)		(76,809	)
Outstanding at 06/30/2004	8,766		$	515,737

At June 30, 2004, Income Equity had the following outstanding options:

WRITTEN OPTION CONTRACTS

Contract	Type	Expiration Date	Exercise Price	Number of Contracts	Fair Value	Unrealized Appreciation (Depreciation)
ChevronTexaco Corp.	Call	September 2004	100	774	42,570	$	32,399
ConocoPhillips	Call	August 2004	80	300	19,500		5,117
Johnson Controls, Inc.	Call	July 2004	65	685	3,425		22,685
Kerr-Mcgee Corp.	Call	October 2004	60	1000	40,000		7,741
Monsanto Co.	Call	October 2004	40	1940	174,600		(86,651	)
Occidental Petroleum Corp.	Call	August 2004	50	1300	117,000		(7,292	)
Symbol Technologies, Inc.	Call	July 2004	17.5	1577	39,425		(1,211	)
Textron, Inc.	Call	September 2004	65	650	29,250		23,812
V.F. Corp.	Call	August 2004	50	540	13,500		39,867
NET UNREALIZED DEPRECIATION ON WRITTEN OPTION CONTRACTS						$	36,467

The following is a summary of Situs Small Cap's written option activity:

Contracts	Number of Contracts	Premium
Outstanding at 12/31/2003	--	$	--
Options written	160		66,445
Options expired	--		--
Options closed	--		--
Options exercised	--		--
Outstanding at 06/30/2004	160	$	66,445

At June 30, 2004, Situs Small Cap had the following outstanding options:

WRITTEN OPTION CONTRACTS

Contract	Type	Expiration Date	Exercise Price	Number of Contracts	Fair Value	Unrealized Appreciation (Depreciation)
Black Box Corp.	Put	September 2004	55	20	16,200	$	(8,329	)
Mandalay Resort Group	Put	September 2004	60	20	100		7,573
Reebok International Ltd.	Put	July 2004	40	20	7,600		(6,168	)
Urban Outfitters, Inc.	Call	December 2004	65	100	50,000		(531	)
NET UNREALIZED DEPRECIATION ON WRITTEN OPTION CONTRACTS						$	(7,455	)

J. Securities Lending

To generate additional income, the Funds may lend a certain percentage of their total assets (331/3% for Dividend Capture, International Equity, Macro 100, Mid Corp America, New Economy, Rotating Markets and Situs Small Cap, 5% for Michigan Tax-Free, and 20% for the remaining Funds) on a short-term basis pursuant to agreements for certain brokers, dealers or other financial institutions. Any loans made will be continuously secured by collateral in cash or U.S. government obligations at least equal to 102% of the value of securities on loan for Dividend Capture, International Equity, Macro 100, Mid Corp America, New Economy, Rotating Markets and Situs Small Cap, and at least equal to 100% of the value of securities on loan for the remaining Funds. The cash collateral received by the Funds is pooled and at June 30, 2004 was invested in commercial paper (with interest rates of ranging from 1.06% to 1.13% and maturity dates ranging from July 2, 2004 to July 21, 2004), mutual funds (with interest rates ranging from 1.02% to 1.05% and with a maturity date of October 31, 2004), a foreign certificate of deposit (with an interest rate of 1.51% and maturity date of November 19, 2004), repurchase agreements (with an interest rate of 1.55% and maturity date of July 1, 2004), U.S. Government agencies (with interest rates ranging from 1.06% to 1.46% and maturity dates ranging from July 2004 to March 2005), and asset backed securities (with interest rates ranging from 1.13% to 1.75% and maturity dates ranging from July 2004 to September 2004). Information on the investment of cash collateral is shown in the Portfolio of Investments. The Funds receive payments from borrowers equivalent to the dividends and interest that would have been earned on securities lent while simultaneously seeking to earn income on the investment of cash collateral, a portion of which is retained by the Advisor. One of the risks in lending portfolio securities, as with other extensions of credit, is the possible delay in recovery of the securities or possible loss of rights in the collateral should the borrower fail financially. There is also the risk that, when lending portfolio securities, the securities may not be available to a Fund on a timely basis and a Fund may, therefore, lose the opportunity to sell the securities at a desirable price. In addition, in the event that a borrower of securities would file for bankruptcy or become insolvent, disposition of the securities may be delayed pending court action. However, loans will be made only to borrowers deemed by the Advisor to be creditworthy under guidelines established by the Trustees and when, in the judgment of the Advisor, the consideration which can be earned currently from such securities loans justifies the attendant risks. Loans are subject to termination by the Funds or the borrower at any time, and are, therefore, not considered to be illiquid investments. Boston Global Advisers ("BGA") serves as sub-custodian for the securities lending program. BGA receives a sub-custody fee based on the value of collateral received from borrowers. In addition, The Huntington National Bank ("Huntington"), as custodian of each of the Funds except International Equity, receives a monthly fee from BGA to offset certain transaction costs incurred by the custodian. As of June 30, 2004, the following Funds had securities with the following market value on loan:

Fund	Market Value of Loaned Securities	Market Value of Collateral*
Mid Corp America	$ 6,680,550	$ 6,822,700
New Economy	768,540	784,500
Situs Small Cap	1,892,555	1,937,250
Fixed Income	10,721,286	10,972,750

* Includes securities and cash collateral

K. Restricted Securities

Restricted securities are securities that may only be resold upon registration under federal securities laws or in transactions exempt from such registration. In some cases, the issuer of restricted securities has agreed to register such securities for resale, at the issuer's expense, either upon demand by the Funds or in connection with another registered offering of the securities. Many restricted securities may be resold in the secondary market in transactions exempt from registration. Such restricted securities may be determined to be liquid under criteria established by the Trustees. The Funds will not incur any registration costs upon such resales. The Funds' restricted securities are valued at a bid price as provided by an independent pricing service or the price provided by dealers in the secondary market or, if no market prices are available, at the fair value as determined by the Funds' pricing committee.

L. Payments by Affiliates

During the period ended December 31, 2001, Huntington Bancshares, Inc. voluntarily contributed $4,161,828 to Money Market. In addition, Huntington Bancshares, Inc. voluntarily purchased securities from Intermediate Government Income, Short/Intermediate Fixed Income and Fixed Income for their amortized cost. The payments by affiliates in the accompanying financial statements reflect the difference between the fair market value and amortized cost of the securities. As a result of the transactions, $3,116,000, $1,335,000 and $2,226,000 of Fixed Income, Intermediate Government Income, and Short/Intermediate Fixed Income, respectively, was deemed as a payment by affiliates, to reimburse the effect of the loss.

M. Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the 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 estimated.

N. Security Transactions and Related Income

Investment transactions are accounted for no later than the first calculation of NAV on the business day following the trade date. However, for financial reporting purposes, portfolio security transactions are reported on trade date. Discounts and premiums on securities purchased are amortized over the lives of the respective securities. Securities gains and losses are calculated on the identified cost basis. Interest income and expenses are accrued daily. Dividends are recorded on the ex-dividend date.

(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 a par value of $.001 per share). Transactions in capital stock were as follows:

	CAPITAL TRANSACTIONS					SHARE TRANSACTIONS
	Trust Shares					Trust Shares
		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change
Huntington Florida Tax-Free Money Fund
Year Ended December 31, 2003		$ 37,353,591	$ --	$ (38,171,004)	$ (817,413)		37,353,591	--	(38,171,003)	(817,412)
Six Months Ended June 30, 2004		11,635,211	--	(14,216,762)	(2,581,551)		11,635,211	--	(14,216,762)	(2,581,551)
Huntington Money Market Fund
Year Ended December 31, 2003		955,348,531	9,668	(1,012,150,259)	(56,792,060)		955,348,532	9,668	(1,012,150,259)	(56,792,059)
Six Months Ended June 30, 2004		358,212,470	1,584	(327,714,526)	30,499,528		358,212,470	1,584	(327,714,526)	30,499,528
Huntington Ohio Municipal Money Market Fund
Year Ended December 31, 2003		102,649,809	1,821	(110,663,121)	(8,011,491)		102,649,808	1,821	(110,663,113)	(8,011,484)
Six Months Ended June 30, 2004		82,709,953	591	(77,688,463)	5,022,081		82,709,953	590	(77,688,463)	5,022,080
Huntington U.S. Treasury Money Market Fund
Year Ended December 31, 2003		1,662,214,194	30,833	(1,653,628,464)	8,616,563		1,662,214,194	30,833	(1,653,628,465)	8,616,562
Six Months Ended June 30, 2004		817,082,980	28,705	(899,901,542)	(82,789,857)		817,082,981	28,705	(899,901,542)	(82,789,856)

	CAPITAL TRANSACTIONS					SHARE TRANSACTIONS
	Investment A Shares					Investment A Shares
		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change
Huntington Florida Tax-Free Money Fund
Year Ended December 31, 2003		$16,696,140	$ 2,011	$(15,034,954)	$ 1,663,197		16,696,140	2,011	(15,034,954)	1,663,197
Six Months Ended June 30, 2004		7,767,126	1,605	(8,037,286)	(268,555)		7,767,126	1,605	(8,037,286)	(268,555)
Huntington Money Market Fund
Year Ended December 31, 2003		676,991,489	383,221	(725,078,325)	(47,703,615)		676,991,489	383,222	(725,078,325)	(47,703,614)
Six Months Ended June 30, 2004		315,703,361	122,957	(324,406,096)	(8,579,778)		315,703,361	122,957	(324,406,096)	(8,579,778)
Huntington Ohio Municipal Money Market Fund
Year Ended December 31, 2003		229,847,985	59,023	(251,754,537)	(21,847,529)		229,847,986	59,023	(251,754,521)	(21,847,512)
Six Months Ended June 30, 2004		111,037,557	18,711	(120,913,718)	(9,857,450)		111,037,557	18,711	(120,913,718)	(9,857,450)
Huntington U.S. Treasury Money Market Fund
Year Ended December 31, 2003		141,484,777	40,836	(156,628,557)	(15,102,944)		141,484,777	40,836	(156,628,557)	(15,102,944)
Six Months Ended June 30, 2004		90,915,395	16,851	(85,755,049)	5,177,197		90,915,395	16,850	(85,755,049)	5,177,196

	CAPITAL TRANSACTIONS					SHARE TRANSACTIONS
	Investment B Shares					Investment B Shares
		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change
Huntington Money Market Fund
Year Ended December 31, 2003		$ 62,526	$ 697	$ (151,004)	$ (87,781)		62,526	758	(151,005)	(87,721)
Six Months Ended June 30, 2004		2,720	142	(7,958)	(5,096)		2,720	142	(7,959)	(5,097)

	CAPITAL TRANSACTIONS					SHARE TRANSACTIONS
	Interfund Shares					Interfund Shares
		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change
Huntington Money Market Fund
Year Ended December 31, 2003		$ 271,006,848	$ 3	$ (271,499,613)	$ (492,762)		271,006,848	4	(271,499,613)	(492,761)
Six Months Ended June 30, 2004		108,039,027	--	(106,590,201)	1,448,826		108,039,027	--	(106,590,201)	1,448,826

	CAPITAL TRANSACTIONS					SHARE TRANSACTIONS
	Trust Shares					Trust Shares
		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change
Huntington Dividend Capture Fund
Year Ended December 31, 2003		$ 25,033,891	$ 805,928	$ (8,256,874)	$ 17,582,945		2,452,123	79,605	(794,713)	1,737,015
Six Months Ended June 30, 2004		21,324,379	616,677	(7,397,655)	14,543,401		1,888,660	55,796	(655,920)	1,288,536
Huntington Growth Fund
Year Ended December 31, 2003		45,255,771	59,348	(31,132,424)	14,182,695		1,294,809	1,572	(887,410)	408,971
Six Months Ended June 30, 2004		17,690,675	--	(17,394,415)	296,260		446,681	--	(438,615)	8,066
Huntington Income Equity Fund
Year Ended December 31, 2003		27,500,545	4,589,845	(31,095,265)	995,125		926,674	147,410	(1,010,921)	63,163
Six Months Ended June 30, 2004		15,400,497	4,358,277	(14,720,836)	5,037,938		473,130	144,065	(452,978)	164,217
Huntington International Equity Fund
Year Ended December 31, 2003		31,313,076	197,910	(13,787,194)	17,723,792		4,224,545	23,066	(1,852,421)	2,395,190
Six Months Ended June 30, 2004		18,435,687	7,202	(5,965,672)	12,477,217		2,023,418	790	(666,098)	1,358,110
Huntington Macro 100 Fund
Period Ended June 30, 2004(1)		10,510,262	--	(33,981)	10,476,281		1,042,995	--	(3,265)	1,039,730
Huntington Mid Corp America Fund
Year Ended December 31, 2003		29,683,568	--	(14,601,247)	15,082,321		2,951,881	--	(1,487,795)	1,464,086
Six Months Ended June 30, 2004		12,505,066	--	(17,686,628)	(5,181,562)		1,019,603	--	(1,436,184)	(416,581)
Huntington New Economy Fund
Year Ended December 31, 2003		10,508,503	14,750	(2,886,076)	7,637,177		1,051,927	1,240	(287,170)	765,997
Six Months Ended June 30, 2004		5,933,734	--	(2,799,630)	3,134,104		486,873	--	(230,621)	256,252
Huntington Rotating Markets Fund
Year Ended December 31, 2003		2,900,999	--	(1,486,960)	1,414,039		356,988	--	(186,943)	170,045
Six Months Ended June 30, 2004		755,694	34,096	(1,078,806)	(289,016)		80,045	3,623	(115,295)	(31,627)
Huntington Situs Small Cap Fund
Year Ended December 31, 2003		12,764,690	5,924	(3,079,955)	9,690,659		1,121,982	425	(241,186)	881,221
Six Months Ended June 30, 2004		7,813,737	31,689	(3,112,423)	4,733,003		538,794	2,179	(216,176)	324,797

	CAPITAL TRANSACTIONS					SHARE TRANSACTIONS
	Investment A Shares					Investment A Shares
		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change
Huntington Dividend Capture Fund
Year Ended December 31, 2003		$ 9,795,840	$ 301,661	$ (414,385)	$ 9,683,116		988,403	29,287	(39,817)	977,873
Six Months Ended June 30, 2004		2,105,228	243,516	(6,223,829)	(3,875,085)		186,535	21,929	(558,927)	(350,463)
Huntington Growth Fund
Year Ended December 31, 2003		3,055,280	--	(1,824,694)	1,230,586		87,890	--	(52,127)	35,763
Six Months Ended June 30, 2004		946,350	--	(1,225,962)	(279,612)		24,064	--	(31,283)	(7,219)
Huntington Income Equity Fund
Year Ended December 31, 2003		1,519,353	202,216	(350,859)	1,370,710		49,192	6,418	(11,888)	43,722
Six Months Ended June 30, 2004		964,196	255,106	(441,240)	778,062		29,465	8,442	(13,475)	24,432
Huntington International Equity Fund
Year Ended December 31, 2003		9,855,346	1,206	(9,646,641)	209,911		1,336,865	141	(1,295,486)	41,520
Six Months Ended June 30, 2004		1,790,589	--	(1,641,229)	149,360		194,739	--	(178,678)	16,061
Huntington Macro 100 Fund
Period Ended June 30, 2004(1)		320,145	--	--	320,145		30,994	--	--	30,994
Huntington Mid Corp America Fund
Year Ended December 31, 2003		2,075,500	--	(206,722)	1,868,778		205,981	--	(20,393)	185,588
Six Months Ended June 30, 2004		646,291	--	(1,182,590)	(536,299)		52,874	--	(96,881)	(44,007)
Huntington New Economy Fund
Year Ended December 31, 2003		740,251	592	(144,265)	596,578		73,007	50	(13,578)	59,479
Six Months Ended June 30, 2004		528,150	--	(196,889)	331,261		43,450	--	(16,360)	27,090
Huntington Rotating Markets Fund
Year Ended December 31, 2003		569,562	--	(194,986)	374,576		71,213	--	(22,819)	48,394
Six Months Ended June 30, 2004		245,020	3,181	(90,115)	158,086		25,811	340	(9,512)	16,639
Huntington Situs Small Cap Fund
Year Ended December 31, 2003		475,195	183	(61,586)	413,792		40,564	13	(5,280)	35,297
Six Months Ended June 30, 2004		417,112	1,326	(119,528)	298,910		28,752	92	(8,318)	20,526

	CAPITAL TRANSACTIONS					SHARE TRANSACTIONS
	Investment B Shares					Investment B Shares
		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change
Huntington Dividend Capture Fund
Year Ended December 31, 2003		$ 6,451,254	$ 292,937	$ (776,655)	$ 5,967,536		642,486	28,689	(76,824)	594,351
Six Months Ended June 30, 2004		2,762,453	343,078	(909,599)	2,195,932		245,918	31,141	(81,336)	195,723
Huntington Growth Fund
Year Ended December 31, 2003		1,895,474	--	(478,243)	1,417,231		55,952	--	(14,316)	41,636
Six Months Ended June 30, 2004		1,069,441	--	(426,250)	643,191		27,744	--	(11,109)	16,635
Huntington Income Equity Fund
Year Ended December 31, 2003		2,266,389	361,805	(556,758)	2,071,436		76,685	11,507	(18,760)	69,432
Six Months Ended June 30, 2004		2,104,122	482,154	(492,660)	2,093,616		64,357	16,053	(15,377)	65,033
Huntington International Equity Fund
Year Ended December 31, 2003		175,769	520	(31,249)	145,040		23,159	62	(4,454)	18,767
Six Months Ended June 30, 2004		145,931	--	(36,607)	109,324		16,197	--	(4,080)	12,117
Huntington Macro 100 Fund
Period Ended June 30, 2004(1)		300,603	--	--	300,603		29,373	--	--	29,373
Huntington Mid Corp America Fund
Year Ended December 31, 2003		1,603,099	--	(390,776)	1,212,323		161,699	--	(39,644)	122,055
Six Months Ended June 30, 2004		978,408	--	(292,662)	685,746		80,984	--	(24,286)	56,698
Huntington New Economy Fund
Year Ended December 31, 2003		456,624	845	(99,637)	357,832		47,187	73	(10,411)	36,849
Six Months Ended June 30, 2004		367,215	--	(68,166)	299,049		30,575	--	(5,674)	24,901
Huntington Situs Small Cap Fund
Year Ended December 31, 2003		384,082	190	(9,032)	375,240		32,671	14	(797)	31,888
Six Months Ended June 30, 2004		559,195	1,652	(57,869)	502,978		38,812	115	(4,128)	34,799

	CAPITAL TRANSACTIONS					SHARE TRANSACTIONS
	Trust Shares					Trust Shares
		Shares Sold	Dividends Reinvested	Shares Redeemed	Net| Change		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change
Huntington Fixed Income Securities Fund
Year Ended December 31, 2003		$5,178,567	$,471,092	$(29,506,904)	$18,142,755		2,107,343	115,248	(1,375,035)	847,556
Six Months Ended June 30, 2004		12,920,952	1,147,819	(17,726,502)	(3,657,731)		603,393	53,615	(826,969)	(169,961)
Huntington Intermediate Government Income Fund
Year Ended December 31, 2003		24,293,615	1,192,545	(22,888,151)	2,598,009		2,248,917	110,204	(2,130,679)	228,442
Six Months Ended June 30, 2004		8,600,101	536,580	(8,402,176)	734,505		810,238	50,646	(792,009)	68,875
Huntington Michigan Tax-Free Fund
Year Ended December 31, 2003		7,893,608	39,205	(2,406,862)	5,525,951		721,281	3,577	(220,369)	504,489
Six Months Ended June 30, 2004		3,497,682	14,461	(3,865,226)	(353,083)		322,000	1,326	(354,727)	(31,401)
Huntington Mortgage Securities Fund
Year Ended December 31, 2003		4,496,248	601,072	(8,907,236)	(3,809,916)		522,758	69,944	(1,030,573)	(437,871)
Six Months Ended June 30, 2004		8,590,361	221,046	(1,868,229)	6,943,178		960,895	25,038	(212,170)	773,763
Huntington Ohio Tax-Free Fund
Year Ended December 31, 2003		15,829,453	198,724	(12,838,898)	3,189,279		721,951	9,055	(583,463)	147,543
Six Months Ended June 30, 2004		8,417,960	40,548	(4,590,468)	3,868,040		383,558	1,861	(210,505)	174,914
Huntington Short/Intermediate Fixed Income Securities Fund
Year Ended December 31, 2003		79,088,529	1,654,738	(45,801,898)	34,941,369		3,967,595	83,054	(2,303,820)	1,746,829
Six Months Ended June 30, 2004		36,929,893	682,331	(34,507,559)	3,104,665		1,861,029	34,389	(1,741,407)	154,011

	CAPITAL TRANSACTIONS					SHARE TRANSACTIONS
	Investment A Shares					Investment A Shares
		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change
Huntington Fixed Income Securities Fund
Year Ended December 31, 2003		$ 1,568,801	$ 55,513	$ (607,564)	$ 1,016,750		72,665	2,592	(28,170)	47,087
Six Months Ended June 30, 2004		650,341	36,603	(669,101)	17,843		30,224	1,710	(31,472)	462
Huntington Intermediate Government Income Fund
Year Ended December 31, 2003		3,885,024	139,290	(3,061,052)	963,262		356,834	12,865	(286,368)	83,331
Six Months Ended June 30, 2004		300,055	44,014	(2,801,286)	(2,457,217)		28,064	4,156	(261,962)	(229,742)
Huntington Michigan Tax-Free Fund
Year Ended December 31, 2003		1,833,318	148,818	(960,740)	1,021,396		166,771	13,581	(87,604)	92,748
Six Months Ended June 30, 2004		869,903	62,236	(890,770)	41,369		80,590	5,719	(81,022)	5,287
Huntington Mortgage Securities Fund
Year Ended December 31, 2003		179,810	73,644	(1,956,445)	(1,702,991)		20,768	8,551	(225,451)	(196,132)
Six Months Ended June 30, 2004		59,665	12,524	(81,234)	(9,045)		6,646	1,410	(9,015)	(959)
Huntington Ohio Tax-Free Fund
Year Ended December 31, 2003		3,057,590	70,536	(469,164)	2,658,962		137,901	3,222	(21,563)	119,560
Six Months Ended June 30, 2004		436,322	31,632	(995,785)	(527,831)		20,025	1,453	(46,041)	(24,563)
Huntington Short/Intermediate Fixed Income Securities Fund
Period Ended December 31, 2003(2)		14,706,804	62,563	(6,554,276)	8,215,091		731,478	3,145	(329,280)	405,343
Six Months Ended June 30, 2004		467,847	39,693	(3,219,381)	(2,711,841)		23,497	1,998	(163,082)	(137,587)

	CAPITAL TRANSACTIONS					SHARE TRANSACTIONS
	Investment B Shares					Investment B Shares
		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change		Shares Sold	Dividends Reinvested	Shares Redeemed	Net Change
Huntington Fixed Income Securities Fund
Year Ended December 31, 2003		$ 1,480,204	$ 69,889	$ (199,445)	$ 1,350,648		68,998	3,255	(9,343)	62,910
Six Months Ended June 30, 2004		293,789	37,208	(261,858)	69,139		13,713	1,741	(12,343)	3,111
Huntington Intermediate Government Income Fund
Period Ended December 31, 2003(3)		569,167	6,230	(68,244)	507,153		51,871	583	(6,283)	46,171
Six Months Ended June 30, 2004		116,273	7,050	(154,898)	(31,575 )		10,879	666	(14,499)	(2,954)
Huntington Michigan Tax-Free Fund
Period Ended December 31, 2003(4)		708,953	4,323	(125,638)	587,638		64,123	395	(11,537)	52,981
Six Months Ended June 30, 2004		359,377	5,573	(155,316)	209,634		32,713	513	(14,265)	18,961
Huntington Mortgage Securities Fund
Period Ended December 31, 2003(5)		274,368	2,310	--	276,678		31,449	265	--	31,714
Six Months Ended June 30, 2004		128,332	3,613	(8,687)	123,258		14,358	409	(978)	13,789
Huntington Ohio Tax-Free Fund
Period Ended December 31, 2003(6)		1,681,073	16,919	(4,187)	1,693,805		76,411	774	(191)	76,994
Six Months Ended June 30, 2004		322,712	15,905	(296,252)	42,365		14,661	731	(13,559)	1,833

(1) Reflects operations for the period from April 30, 2004 (date of initial public investment) to June 30, 2004.

(2) Reflects operations for the period from May 9, 2003 (date of initial public investment) to December 31, 2003.

(3) Reflects operations for the period from May 12, 2003 (date of initial public investment) to December 31, 2003.

(4) Reflects operations for the period from May 19, 2003 (date of initial public investment) to December 31, 2003.

(5) Reflects operations for the period from May 13, 2003 (date of initial public investment) to December 31, 2003.

(6) Reflects operations for the period from May 2, 2003 (date of initial public investment) to December 31, 2003.

(4) Investment Advisory Fee and Other Transactions with Affiliates

Investment Advisory Fee - --Huntington Asset Advisors, Inc., a subsidiary of Huntington, serves as the Funds' 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	Tiered	Annual Rate
Florida Tax-Free Money
Money Market
Ohio Municipal Money Market	Up to $500 million	0.30%
	On the next $500 million	0.25%
	On $1 billion and more	0.20%
U.S. Treasury Money Market		0.20%
Dividend Capture		0.75%
Growth		0.60%
Income Equity		0.60%
International Equity		1.00%
Macro 100		0.75%
Mid Corp America		0.75%
New Economy		0.85%
Rotating Markets		0.50%
Situs Small Cap		0.75%
Fixed Income		0.50%
Intermediate Government Income		0.50%
Michigan Tax-Free		0.50%
Mortgage Securities		0.50%
Ohio Tax-Free		0.50%
Short/Intermediate Fixed Income		0.50%

Sub-Investment Advisory Fee--Effective April 30, 2004, Laffer Investments, Inc. became the sub-investment adviser ("Sub-Advisor") of Macro 100 (the "Fund"). The Sub-Advisor receives an annual fee equal to 0.50% of the Fund's average daily net assets. This fee is paid by the Advisor and not the Fund.

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. Huntington has 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 net assets of each Fund for the period. From time to time, FServ and its affiliates may pay out of their reasonable profits and other resources advertising, marketing and other expenses for the benefit of the Funds, and such amounts may be paid to the Advisor and its affiliates. FServ is a wholly-owned subsidiary of Federated Investors, Inc. Huntington and the Advisor may also pay out of their reasonable profits and other resources (including those of their affiliates) advertising, marketing, and other expenses for the benefit of the Funds.

Distribution and Shareholder Services Fees--The Funds have adopted a Distribution Plan (the "Plan") pursuant to Rule 12b-1 under the Act. Under the terms of the Plan, the Funds will compensate Edgewood Services, Inc., ("Edgewood"), the Funds' distributor, for distribution services in connection with Investment A Shares and Investment B Shares not to exceed 0.25% and 0.75% of the daily net assets of each Fund's Investment A Shares and Investment B Shares, respectively. Investment A Shares and Trust Shares are also subject to either a shareholder servicing administrative fee of 0.25% of each class' average daily net assets to be paid to Huntington or a shareholder services fee not to exceed 0.25% of the daily net assets of such shares to be paid to Edgewood. Investment B Shares are subject to a shareholder services fee not to exceed 0.25% of the daily net assets of such shares. Trust Shares are not subject to Rule 12b-1 fees. Currently, Huntington and Edgewood have agreed to voluntarily waive a portion of their fees on the Investment A Shares and Trust Shares. These waivers are reflected in the waiver section on the Statement of Operations. For the six months ended June 30, 2004, Huntington and its affiliates received $3,300,283 in shareholder service fees. For the six months ended June 30, 2004, Edgewood received commissions of $756,022 earned on sales of Investment A Shares and from redemption of Investment A and Investment B Shares, of which $734,176 was re-allowed to affiliated broker-dealers of the Funds.

Transfer and Dividend Disbursing Agent Fees and Expenses--Unified Fund Services, Inc. ("Unified") is transfer and dividend disbursing agent for the Funds. 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 each of the Funds' custodian, except International Equity. State Street Bank and Trust Company serves as custodian for International Equity. Huntington and State Street Bank and Trust Company receive fees based on the level of a Fund's average daily net assets for the period, plus out-of-pocket expenses.

General--Certain of the officers of the Trust are Officers, Directors and/or Trustees of the above companies.

Pursuant to an exemptive order issued by the Securities and Exchange Commission, the Funds may invest in certain affiliated money market funds which are managed by the Advisor. Income distributions earned from investments in these funds are recorded as income in the accompanying financial statements.

(5) Rotating Markets Structure

Rotating Markets ("Fund"), in accordance with its prospectus, seeks 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, 2004 were as follows:

Fund	Purchases	Sales
Dividend Capture	$48,407,196	$36,377,320
Growth	28,755,806	13,844,562
Income Equity	39,427,698	40,839,116
International Equity	28,987,435	15,279,801
Macro 100	10,960,851	--
Mid Corp America	5,413,539	4,957,703
New Economy	15,721,415	13,068,814
Rotating Markets	10,625,971	10,634,141
Situs Small Cap	8,737,383	3,520,774
Fixed Income	41,264,220	42,396,311
Intermediate Government Income	13,504,875	16,236,849
Michigan Tax-Free	4,317,258	4,444,617
Mortgage Securities	13,645,809	10,798,001
Ohio Tax-Free	6,717,969	3,137,649
Short/Intermediate Fixed Income	44,457,023	41,106,517

(7) Concentration of Credit Risk

Since each of Florida Tax-Free Money, Michigan Tax-Free, Ohio Municipal Money Market and Ohio Tax-Free invest a substantial portion of their assets in issuers located in one state, they will be more susceptible to factors adversely affecting issuers of that state than would be a comparable tax-exempt mutual fund that invests nationally. In order to reduce the credit risk associated with such factors, at June 30, 2004, the securities in the portfolio of investments are backed by letters of credit or bond insurance of various financial institutions and financial guaranty assurance agencies, as indicated below. The largest percentage of investments insured by or supported (backed) by a letter of credit from any one institution or agency is indicated below.

Fund	% of Portfolio Guaranteed/ Insured	% of Portfolio Backed by Largest Guarantor/Insurer
Florida Tax-Free Money	66.80%	15.45%
Michigan Tax-Free	69.40%	21.12%
Ohio Municipal Money Market	66.80%	8.84%
Ohio Tax-Free	48.29%	19.48%

(8) Changes in Independent Auditors (Unaudited)--On March 2, 2004, the Board of Trustees of the Trust, upon the recommendation of the Trust's audit committee, decided to engage Ernst & Young LLP as independent auditors for the Funds' fiscal year ending December 31, 2004. For the prior fiscal years ended December 31, 2002 and 2003, KPMG LLP ("KPMG") audited the funds' financial statements. KPMG's audit reports contained no adverse opinion or disclaimer of opinion; nor were its reports qualified or modified as to uncertainty, audit scope, or accounting principles. Further, there were no disagreements between the Trust and KPMG on accounting principles or practices, financial statement disclosure or audit scope or procedure, which if not resolved to the satisfaction of KPMG would have caused it to make reference to the disagreement in its report.

VOTING PROXIES ON FUND PORTFOLIO SECURITIES

A copy of the policies and procedures that the Funds use to determine how to vote proxies relating to securities held in the Funds’ portfolios, as well as a record of how the Funds voted any such proxies during the most recent 12-month period ended June 30 is available without charge and upon request by calling 1-800-253-0412 or at http://www.huntingtonfunds.com/shareholders/. This information is also available from the EDGAR database on the SEC’s Internet site at http://www.sec.gov.

The Huntington National Bank, a subsidiary of Huntington Bancshares, Inc. is the Sub-Administrator and Financial Administrator of the Huntington Funds and is the custodian of certain Funds. State Street Bank and Trust Company is also a custodian to one of the Funds. Huntington Asset Advisors, Inc., a subsidiary of The Huntington National Bank, serves as Investment Advisor to the Funds. Federated Services Company and Edgewood Services, Inc., the Administrator and Distributor of the Huntington Funds, respectively, are not affiliated with The Huntington National Bank.

Mutual funds, including money market funds, are not bank deposits or obligations, are not guaranteed by any bank, and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other government agency. Investment in mutual funds involves investment risk, including the possible loss of principal. Although money market funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Funds.

This report is authorized for distribution to prospective investors only when preceded or accompanied by a prospectus which contains facts concerning the Funds’ objectives and policies, management fees, expenses and other information.

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Cusip 446327413

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Huntington Funds Shareholder Services: 1-800-253-0412

27608 (8/04)

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.         Schedule of Investments.

Not applicable.


Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End
Management Investment Companies.

Not applicable.

Item 8. Purchases of Equity Securities by Closed-End Management Investment
Company and Affiliated Purchasers.

Not applicable.

Item 9. Submission of Matters to a Vote of Security Holders.

Not applicable.

Item 10. Controls and Procedures.

     (a) The registrant's  principal  executive officer and principal  financial
officer have concluded based on their evaluation of the registrant's  disclosure
controls and  procedures as conducted  within 90 days of the filing date of this
report,  that these disclosure  controls and procedures are adequately  designed
and  are  operating  effectively  to  ensure  that  information  required  to be
disclosed by the registrant on Form N-CSR is (i) accumulated and communicated to
the investment company's management, including its certifying officers, to allow
timely decisions regarding required  disclosure;  and (ii) recorded,  processed,
summarized and reported within the time periods  specified in the Securities and
Exchange Commission's rules and forms.

     (b)  There  were no  changes  in the  registrant's  internal  control  over
financial  reporting that occurred  during the  registrant's  most recent fiscal
half-year that have materially  affected or are reasonably  likely to materially
affect, the registrant's internal control over financial reporting.

Item 11. Exhibits.


     (a) File the exhibits  listed below as part of this Form.  Letter or number
the exhibits in the sequence indicated.

     (a)(1) Not Applicable

     (a)(2) A separate  certification  for each principal  executive officer and
principal  financial  officer of the  registrant as required by Rule 30a-2 under
the  Act (17 CFR  270.30a-2).  Certifications  pursuant  to  Section  302 of the
Sarbanes-Oxley Act of 2002 are attached hereto.

     (a)(3) Not applicable.

     (b) A separate  or  combined  certification  for each  principal  executive
officer and  principal  officer of the  registrant  as required by Rule 30a-2(b)
under  the  Act  of  1940.   Certifications  pursuant  to  Section  906  of  the
Sarbanes-Oxley Act of 2002 are attached hereto.


                                   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       The Huntington Funds
By           /s/ Charles L. Davis, Jr.
Charles L. Davis, Jr., Chief Executive Officer and Principal Executive Officer

Date September 2, 2004

     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 and Principal Executive Officer

Date September 2, 2004

By   /s/ Bryan C. Haft
Bryan C. Haft, Treasurer and Principal Financial Officer

Date   September 2, 2004