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

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)

2960 North Meridian Street, Suite 300

Attn: Huntington Funds Officer

Indianapolis, IN 46208

(Address of principal executive offices) (Zip code)

Ronald J. Corn, Esq.

The Huntington National Bank

41 South High Street

Columbus, OH 43287

(Name and address of agent for service)

Copies to:

David C. Mahaffey, Esq.

Sullivan & Worcester

1666 K Street, N.W.

Washington, DC 20006

Registrant’s telephone number, including area code: 1-800-253-0412

Date of fiscal year end: December 31

Date of reporting period: June 30, 2010

Item 1. Reports to Stockholders.

LOGO

Semi-Annual

Shareholder

Report

Money Market Funds

Huntington Tax-Free Money Market 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 Global Select Markets 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 Real Strategies Fund

Huntington Rotating Markets Fund

Huntington Situs Fund

Huntington Technical Opportunities Fund

Income Funds

Huntington Fixed Income Securities Fund

Huntington Intermediate Government Income Fund

Huntington Mortgage Securities Fund

Huntington Ohio Tax-Free Fund

Huntington Short/Intermediate Fixed Income Securities Fund

Asset Allocation Funds

Huntington Balanced Allocation Fund

Huntington Conservative Allocation Fund

Huntington Growth Allocation Fund

JUNE 30, 2010

CLASS A SHARES

TRUST SHARES



*Huntington Tax-Free Money Market Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Demand Notes		65.0%
General Market Notes		35.0%
*Total*		*100.0%*

Portfolio holdings and allocations are subject to change. As of June 30, 2010, percentages in the table above are based on total investments. Such total investments may differ from the percentages set forth below in the Portfolio of Investments which are computed using the Fund’s total net assets.

The Portfolio of Investments Summary Table and the Portfolio of Investments are broken down by sectors, and these sectors do not represent industry categories for purposes of identifying “industry concentration” as described in the Investment Company Act of 1940, as amended.

Portfolio of Investments (Unaudited)


Principal Amount			*Value*

	*Municipal Bonds — 92.7%*
	*Alabama — 0.4%*
$	400,000	Birmingham, AL, Medical Clinic Board Revenue, (LOC - SunTrust Bank), 0.430%, 9/1/15 (a)	$	400,000
	*Colorado — 1.8%*
	700,000	Colorado Holland Creek Metropolitan District Revenue, (LOC - Bank of America N.A.), 0.280%, 6/1/41 (a)		700,000
	350,000	Colorado Housing & Finance Authority, Series B, (Fannie Mae Ins.), 0.220%, 10/15/16 (a)		350,000
	350,000	Colorado Housing & Finance Authority, Series E, (Fannie Mae Ins.), 0.220%, 10/15/16 (a)		350,000
	500,000	Colorado Housing & Finance Authority, Series H, (Fannie Mae Ins.), 0.220%, 10/15/16 (a)		500,000
				1,900,000
	*Connecticut — 0.1%*
	100,000	Farmington, CT, G.O., 3.250%, 2/15/11		101,502
	*Delaware — 0.9%*
	1,000,000	Delaware State Health Facilities Authority Revenue, (LOC - Wells Fargo Bank N.A.), 0.150%, 7/1/39 (a)		1,000,000
	*Florida — 23.2%*
	900,000	Broward County, FL, Educational Facilities Authority Revenue, (LOC - Bank of America N.A.), 0.290%, 4/1/20 (a)		900,000
	100,000	Broward County, FL, Educational Facilities Authority Revenue, (LOC - Citibank N.A.), 0.280%, 11/1/31 (a)		100,000
	500,000	Broward County, FL, Housing Finance Authority Revenue, (Freddie Mac Ins.), 0.250%, 12/1/29 (a)		500,000


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Florida — (Continued)*
$	2,990,000	Broward County, FL, School Board, Certificate Participation, (AGM Ins.), 0.300%, 7/1/21 (a)	$	2,990,000
	85,000	Charlotte County, FL, Utility Revenue, Series B, (AGM Ins.), 0.300%, 10/1/21 (a)		85,000
	550,000	Duval County, FL, Housing Finance Authority Revenue, (LOC - U.S. Bank N.A.), 0.290%, 7/1/25 (a)		550,000
	1,580,000	Florida Housing Finance Agency Revenue, Series B, (Fannie Mae Ins.), 0.290%, 8/1/11 (a)		1,580,000
	385,000	Florida Hurricane Catastrophe Fund Finance Corp., Revenue, Series A, 4.000%, 7/1/10		385,000
	2,500,000	Florida Hurricane Catastrophe Fund Finance Corp., Revenue, Series A, 5.000%, 7/1/10		2,500,000
	1,900,000	Florida State Department Environmental Protection Preservation Revenue, Series A, (Assured Guaranty), 0.220%, 7/1/27 (a)		1,900,000
	1,390,000	Florida State Department Environmental Protection Preservation Revenue, Series B, (National Reinsurance), 5.000%, 7/1/10		1,390,000
	330,000	Hernando County, FL, Revenue, (Assured Guaranty), 2.000%, 2/1/11		331,915
	900,000	North Broward, FL, Hospital District Revenue, (MBIA Ins. LOC - Wachovia Bank N.A.), 0.250%, 1/15/27 (a)		900,000

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

Semi-Annual Shareholder Report


*Huntington Tax-Free Money Market Fund*		(Continued)


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Florida — (Continued)*
$	1,825,000	Orange County, FL, School Board, Certificate Participation, Series E, (LOC - Wachovia Bank N.A.), 0.150%, 8/1/22 (a)	$	1,825,000
	2,790,000	Orlando & Orange County Authority, FL, Expressway Revenue, (FSA Ins), 0.300%, 7/1/25 (a)		2,790,000
	2,000,000	Orlando & Orange County Authority, FL, Expressway Revenue, Series D, (AGM Ins. SPA - Dexia Credit Local), 0.380%, 7/1/32 (a)		2,000,000
	200,000	Palm Beach County, FL, Revenue, (LOC - Northern Trust Co.), 0.300%, 5/1/25 (a)		200,000
	1,050,000	Palm Beach County, FL, Revenue, (LOC - Northern Trust Co.), 0.300%, 3/1/30 (a)		1,050,000
	700,000	Palm Beach County, FL, Revenue, (LOC - Northern Trust Co.), 0.330%, 11/1/36 (a)		700,000
	500,000	Pinellas County, FL, Health Facility Authority Revenue, Series B-2, (AGM Ins.), 0.320%, 11/15/33 (a)		500,000
	1,000,000	University South Florida Research Foundation, Inc., Revenue, (LOC - Bank of America N.A.), 0.350%, 8/1/34 (a)		1,000,000
	1,100,000	Volusia County, FL, Housing Finance Authority Refunding Revenue, (Fannie Mae Ins.), 0.250%, 1/15/32 (a)		1,100,000
				25,276,915
	*Illinois — 3.0%*
	2,110,000	Chicago, IL, Board of Education, G.O., Series B, (FSA Ins.), 0.390%, 3/1/32 (a)		2,110,000
	700,000	Chicago, IL, Board of Education, G.O., Series D, (AGM Ins. SPA - Dexia Credit Local), 0.330%, 3/1/32 (a)		700,000
	400,000	Kane Cook & Du Page Counties, IL, School District, G.O., 2.000%, 1/1/11		402,596
				3,212,596
	*Indiana — 0.7%*
	800,000	Indiana State Educational Facilities Authority Revenue, Series E, (LOC - U.S. Bank N.A.), 0.300%, 10/1/24 (a)		800,000


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Kentucky — 0.4%*
$	475,000	Russell, KY, Revenue, Series B, (FSA Ins.), 0.380%, 11/1/26 (a)	$	475,000
	*Massachusetts — 5.8%*
	1,250,000	Fitchburg Massachussetts Bond Anticipatory Notes, G.O., 1.500%, 6/30/11		1,258,651
	5,000,000	Massachusetts State Health & Educational Facilities Authority Revenue, Series K, (LOC - Bank of America N.A.), 0.160%, 7/1/37 (a)		5,000,000
				6,258,651
	*Michigan — 0.5%*
	100,000	Kalamazoo, MI, Hospital Finance Authority Revenue, (FSA Ins.), 0.330%, 5/15/36 (a)		100,000
	450,000	Milan, MI, Area Schools, G.O., (Q-SBLF Ins. LOC - Landesbank Hessen-Thuringen), 0.320%, 5/1/30 (a)		450,000
				550,000
	*Missouri — 1.8%*
	1,300,000	Missouri State Health & Educational Facilities Authority Revenue, St Louis University, Series A-1, (LOC - Wells Fargo Bank N.A.), 0.130%, 10/1/35 (a)		1,300,000
	700,000	Missouri State Health & Educational Facilities Authority Revenue, St Louis University, Series A-2, (LOC - Wells Fargo Bank N.A.), 0.120%, 10/1/35 (a)		700,000
				2,000,000
	*New Hampshire — 1.0%*
	1,130,000	New Hampshire Health & Education Facilities Authority Revenue, Series B, (SPA - JPMorgan Chase Bank), 0.220%, 7/1/33 (a)		1,130,000
	*New Jersey — 2.8%*
	3,000,000	Paterson New Jersey Bond Anticipatory Notes, G.O., 1.500%, 6/16/11		3,019,956
	*New Mexico — 0.1%*
	100,000	New Mexico Finance Authority Revenue, Senior Lien Public Project Revolving, Series C, 3.250%, 6/1/11		102,280

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

Semi-Annual Shareholder Report


*Huntington Tax-Free Money Market Fund*		(Continued)


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*New York — 3.6%*
$	2,000,000	Rockland County, NY, G.O., TAN, 1.500%, 3/9/11	$	2,010,222
	1,000,000	Sag Harbor NY, Union Free School District, G.O., (State Aid Withholding), 1.500%, 6/23/11		1,005,810
	900,000	Triborough Bridge & Tunnel Authority, NY, Revenue, Series AB, (AGM Ins. SPA - JPMorgan Chase Bank), 0.230%, 1/1/19 (a)		900,000
				3,916,032
	*North Carolina — 3.1%*
	1,900,000	Charlotte-Mecklenburg Hospital Authority, NC, Health Care System Revenue, Series H, (LOC - Wells Fargo Bank N.A.), 0.120%, 1/15/45 (a)		1,900,000
	500,000	New Hanover County, NC, Hospital Revenue, Series A-1, (AGM Ins. SPA - Wachovia Bank N.A.), 0.230%, 10/1/23 (a)		500,000
	495,000	New Hanover County, NC, Hospital Revenue, Series B-1, (AGM Ins.), 0.230%, 10/1/26 (a)		495,000
	500,000	North Carolina Capital Facilities Finance Agency Revenue, (LOC - Wachovia Bank N.A.), 0.300%, 5/1/27 (a)		500,000
				3,395,000
	*Ohio — 16.9%*
	2,000,000	Akron, OH, Health Benefit Claims, Revenue, BAN, 1.750%, 3/17/11		2,003,491
	3,000,000	Allen County, OH, Hospital Facilities Revenue, Series B, (LOC - JPMorgan Chase Bank), 0.140%, 10/1/31 (a)		3,000,000
	2,420,000	Butler County, Port Authority Economic Development Facilities Revenue, Refunding & Improvement, Great Miami Valley, (LOC - JPMorgan Chase Bank), 0.270%, 9/1/37 (a)		2,420,000
	1,000,000	Canal Winchester, OH, Local School District, G.O., Series A, 2.500%, 11/23/10		1,003,912
	130,000	Columbus, OH, G.O., Series A, 5.000%, 12/15/10		132,361
	200,000	Columbus, OH, Regional Airport Authority Revenue, Series A, (LOC - U.S. Bank N.A.), 0.300%, 3/1/34 (a)		200,000


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	1,800,000	Cuyahoga County, OH, Revenue, Subseries B1, (SPA - JPMorgan Chase Bank), 0.130%, 1/1/39 (a)	$	1,800,000
	1,330,000	Elgin, OH, Local School District, School Facilities Construction & Improvements Notes, G.O., 1.750%, 9/15/10		1,332,696
	200,000	Franklin County, OH, Hospital Revenue, U.S. Health Corp., Series A, (LOC - Citibank N.A.), 0.270%, 12/1/21 (a)		200,000
	520,000	Geauga County, OH, Health Care Facilities Revenue, Heather Hill, Inc. Project, Series A, (LOC - - Bank One Columbus N.A.), 0.280%, 7/1/23 (a)		520,000
	360,000	Geauga County, OH, Health Care Facilities Revenue, Heather Hill, Inc. Project, Series B, (LOC - - Bank One Columbus N.A.), 0.280%, 7/1/23 (a)		360,000
	115,000	Hamilton County, OH, Hospital Facilities Revenue, Drake Center Inc., Series A, (LOC - U.S. Bank N.A.), 0.300%, 6/1/19 (a)		115,000
	1,640,000	Mason OH, Bond Anticipatory Notes, G.O., 3.000%, 6/29/11		1,678,908
	400,000	Miamisburg, OH, Refuse Equipment, G.O., BAN, 2.500%, 7/14/10		400,105
	1,200,000	Teays Valley, OH, Local School District, G.O., BAN, 1.625%, 2/25/11		1,206,428
	1,000,000	Union Township, OH, G.O., BAN (Various Purposes), 1.250%, 9/14/10		1,001,124
	1,000,000	University of Toledo, OH, General Receipts Bonds, 1.500%, 6/1/11		1,007,098
				18,381,123
	*Pennsylvania — 7.8%*
	2,530,000	Delaware County, PA, Authority Revenue, (LOC - Wells Fargo Bank N.A.), 0.150%, 6/1/20 (a)		2,530,000
	2,000,000	Geisinger Authority, PA, Health System Revenue, Series C, (SPA - Wells Fargo Bank N.A.), 0.110%, 6/1/39 (a)		2,000,000
	2,005,000	North Wales, PA, Water Authority Revenue, (FSA Ins. SPA - Dexia Credit Local), 0.350%, 11/1/20 (a)		2,005,000

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

Semi-Annual Shareholder Report


*Huntington Tax-Free Money Market Fund*		(Continued)


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Pennsylvania — (Continued)*
$	2,000,000	Pittsburgh, PA, Water & Sewer Authority Revenue, Series B-1, (AGM Ins. SPA - JPMorgan Chase Bank), 0.300%, 9/1/33 (a)	$	2,000,000
				8,535,000
	*Rhode Island — 0.9%*
	1,000,000	Chariho, RI, Regional High School District Revenue, (State Aid Withholding), 1.500%, 6/23/11		1,008,258
	*South Carolina — 3.4%*
	3,700,000	North Charleston, SC, Tax Increment Revenue, (SPA - Bank of America N.A), 0.350%, 12/1/18 (a)		3,700,000
	*Tennessee — 5.1%*
	1,625,000	Jackson, TN, Health Educational & Housing Facilities Board Multifamily Revenue, (Fannie Mae Ins.), 0.250%, 5/15/31 (a)		1,625,000
	3,865,000	Montgomery County, TN, Public Building Authority Pooled Financing Revenue, (LOC - Bank of America N.A.), 0.190%, 7/1/38 (a)		3,865,000
				5,490,000
	*Texas — 4.4%*
	900,000	Katy, TX, Independent School District, G.O., (PSF-GTD), 0.290%, 8/15/33 (a)		900,000
	2,700,000	Pasadena, TX, Independent School District, G.O., Series B, (AGM Ins. SPA - Bank of America N.A.), 0.340%, 2/1/35 (a)		2,700,000
	100,000	Texas State Public Financing Authority, G.O., 5.000%, 10/1/10		101,145
	1,110,000	Travis County, TX, Housing Finance Corp. Multifamily Housing Revenue, Series A, (Fannie Mae Ins.), 0.250%, 2/15/34 (a)		1,110,000
				4,811,145
	*Virginia — 0.7%*
	725,000	Hampton, VA, Redevelopment & Housing Authority Multifamily Housing Revenue, Township Apartments Project, (Fannie Mae Ins.), 0.250%, 10/15/32 (a)		725,000


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*West Virginia — 3.1%*
$	3,085,000	Weirton, WV, Municipal Hospital Building, Commission Hospital Revenue, (LOC - PNC Bank N.A.), 0.280%, 12/1/31 (a)	$	3,085,000
	300,000	West Virginia Economic Development Authority Revenue, Series A, (SPA - PNC Bank N.A.), 0.290%, 7/1/17 (a)		300,000
				3,385,000
	*Wisconsin — 1.2%*
	1,300,000	Wisconsin State Health & Educational Facilities Authority Revenue, Series B, (LOC U.S. Bank N.A), 0.150%, 12/1/26 (a)		1,300,000
	*Total Municipal Bonds (Cost $100,873,458)*			*100,873,458*
	*Cash Equivalents — 8.1%*
	3,942,434	Fidelity Institutional Tax-Exempt Portfolio, 0.110% (b)		3,942,434
	4,886,845	Merrill Lynch Institutional Tax-Exempt Fund, 0.240% (b)		4,886,845
	*Total Cash Equivalents (Cost $8,829,279)*			*8,829,279*
	Total Investments (Cost $109,702,737) — 100.8%			*109,702,737*
	*Liabilities in Excess of Other Assets — (0.8)%*			*(858,132)*
	*Net Assets — 100.0%*		$	*108,844,605*

(a)

Variable or Floating Rate Security. Rate disclosed is as of June 30, 2010.

(b)

Rate disclosed is the seven day yield as of June 30, 2010.

AGM — Assured Guaranty Municipal Corp.

BAN — Bond Anticipation Note

G.O. — General Obligation

GTD — Guaranteed

Ins. — Insured

LOC — Letter of Credit

MBIA — Municipal Bond Insurance Association

PSF-GTD — Public School Fund Guaranteed

Q-SBLF — Qualified School Bond Loan Fund

SPA — Standby Purchase Agreement

TAN — Tax Anticipation Note

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

Semi-Annual Shareholder Report



*Huntington Money Market Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
U.S. Government Agencies		26.9%
Certificates of Deposit		18.0%
Municipal Bonds		17.9%
Cash		10.7%
Time Deposits		8.3%
Corporate Bonds		8.2%
Repurchase Agreements		6.6%
U.S. Treasury Obligations		2.3%
Commercial Paper		1.1%
*Total*		*100.0%*

Portfolio of Investments (Unaudited)


Principal Amount			*Value*

	*Corporate Bonds — 8.0%*
	*Financials — 8.0%*
$	4,500,000	Citigroup, Inc., 1.087%, 12/9/10 (a)	$	4,512,190
	5,000,000	General Electric Capital Corp., Series A, MTN, 0.352%, 10/6/10 (a)		4,999,783
	10,000,000	International Bank for Reconstruction & Development, 0.260%, 8/23/10 (b)		9,996,172
	5,000,000	JPMorgan Chase & Co., 0.474%, 1/17/11 (a)		5,001,633
	7,000,000	SunTrust Banks, Inc., 1.187%, 12/16/10 (a)		7,027,536
	5,000,000	Wells Fargo & Co., Series G, MTN, 0.766%, 1/24/11 (a)		5,011,711
	*Total Corporate Bonds (Cost $36,549,025)*			*36,549,025*
	*U.S. Government Agencies — 26.3%*
	*Federal Farm Credit Bank — 6.6%*
	5,000,000	0.560%, 7/1/10		5,000,000
	10,000,000	0.747%, 11/24/10 (a)		10,010,921
	5,000,000	0.210%, 1/4/11 (a)		5,000,306
	10,000,000	0.400%, 6/1/11 (a)		10,000,000
				30,011,227
	*Federal Home Loan Bank — 17.5%*
	4,000,000	0.480%, 10/25/10		4,001,210
	10,000,000	0.500%, 10/25/10		9,999,821
	10,000,000	0.570%, 4/13/11		10,000,000
	10,000,000	0.700%, 4/18/11		10,013,742
	10,480,000	0.600%, 4/26/11		10,480,000
	10,000,000	0.250%, 5/27/11 (a)		10,000,000


Principal Amount			*Value*

	*U.S. Government Agencies — (Continued)*
	*Federal Home Loan Bank — (Continued)*
$	10,000,000	0.500%, 6/20/11 (c)	$	9,999,200
	15,000,000	0.750%, 6/21/11		15,000,000
				79,493,973
	Federal Home Loan Mortgage Corporation — 2.2%
	10,000,000	0.240%, 8/11/10 (b)		9,997,267
	Total U.S. Government Agencies (Cost $119,502,467)			*119,502,467*
	*U.S. Treasury Obligations — 2.2%*
	*U.S. Treasury Bills — 2.2%*
	5,000,000	0.170%, 12/23/10 (b)		4,995,868
	5,000,000	0.215%, 12/30/10 (b)		4,994,565
	Total U.S. Treasury Obligations (Cost $9,990,433)			*9,990,433*
	*Municipal Bonds — 17.5%*
	*Kentucky — 2.1%*
	9,600,000	Carroll County, KY, Solid Waste Disposal Revenue, BPB Acquisition Project, LOC - Bank of America N.A., AMT, 0.290%, 5/1/31 (a)		9,600,000
	*Massachusetts — 1.1%*
	5,000,000	University Massachusetts Building Authority Revenue, Series 4, ST GTD, SPA - Bank of America N.A., 0.230%, 11/1/34 (a)		5,000,000

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

Semi-Annual Shareholder Report


*Huntington Money Market Fund*		(Continued)


Principal Amount or Shares			*Value*

	*Municipal Bonds — (Continued)*
	*New York — 2.4%*
$	5,000,000	New York Long Island Power Authority Electric Systems Revenue, Series D, AGM Ins. SPA - Dexia Credit Local, 0.250%, 12/1/29 (a)	$	5,000,000
	6,000,000	New York State Local Government Assistance Corporation, Series B, GO of Corp., SPA - JPMorgan Chase Bank, 0.200%, 4/1/21 (a)		6,000,000
				11,000,000
	*North Carolina — 3.3%*
	5,000,000	Charlotte, NC, Special Obligation Revenue, Uptown Project, SPA - Wachovia Bank N.A., 0.350%, 6/1/21 (a)		5,000,000
	4,900,000	North Carolina Capital Facilities Finance Agency Educational Facilities Revenue, LOC - Branch Banking & Trust, 0.340%, 10/1/34 (a)		4,900,000
	5,000,000	Winston-Salem, NC, Water & Sewer Systems Revenue, Series B, SPA - Branch Banking & Trust, 0.250%, 6/1/30 (a)		5,000,000
				14,900,000
	*Ohio — 5.5%*
	10,000,000	Franklin County, OH, Hospital Revenue, Series A, SPA - JPMorgan Chase Bank, 0.240%, 11/15/33 (a)		10,000,000
	15,000,000	Ohio State Housing Finance Agency Residential Mortgage Revenue, Series I, SPA - Citibank N.A., AMT, 0.240%, 9/1/36 (a)		15,000,000
				25,000,000
	*Texas — 3.1%*
	5,865,000	Houston, TX, Independent School District, G.O., PSF-GTD, SPA - Bank of America N.A., 0.280%, 6/15/31 (a)		5,865,000
	8,000,000	Texas State Department of Housing & Community Affairs Multifamily Housing Revenue, LOC - Citibank N.A., AMT, 0.280%, 5/1/40 (a)		8,000,000
				13,865,000
	*Total Municipal Bonds (Cost $79,365,000)*			*79,365,000*


Principal Amount or Shares			*Value*

	*Commercial Papers — 1.1%*
$	5,000,000	Honeywell International, Inc., 0.335%, 9/21/10 (b)	$	4,996,242
	*Total Commercial Papers (Cost $4,996,242)*			*4,996,242*
	*Certificates of Deposit — 17.6%*
	25,000,000	Bank of Nova Scotia, 0.470%, 9/7/10		25,000,000
	25,000,000	BNP Paribas NY, 0.260%, 7/29/10		25,000,000
	15,000,000	Standard Chartered Bank, 0.380%, 7/21/10		15,000,000
	15,000,000	UBS AG, 0.340%, 7/8/10		15,000,000
	*Total Certificates of Deposit (Cost $80,000,000)*			*80,000,000*
	*Cash Equivalents — 10.5%*
	37,500,000	Fidelity Institutional Money Market Portfolio, 0.300% (a)		37,500,000
	10,000,000	Meeder Institutional Money Market Fund, 0.280% (a)		10,000,000
	*Total Cash Equivalents (Cost $47,500,000)*			*47,500,000*
	*Time Deposits — 8.1%*
	10,000,000	Bank of America, 0.010%, 7/1/10		10,000,000
	5,000,000	Citibank Nassau, 0.100%, 7/1/10		5,000,000
	22,000,000	JPM Nassau, 0.125%, 7/1/10		22,000,000
	*Total Time Deposits (Cost $37,000,000)*			*37,000,000*
	*Repurchase Agreements — 6.4%*
	29,240,600	Morgan Stanley, 0.030%, dated 6/30/10, due 7/1/10, repurchase price $ 29,240,624 (Fully collateralized by FNMA, 5.000%, 8/2/12)		29,240,600
	*Total Repurchase Agreements (Cost $29,240,600)*			*29,240,600*
	Total Investments (Cost $444,143,767) — 97.7%			*444,143,767*
	*Other Assets in Excess of Liabilities — 2.3%*			*10,300,852*
	*Net Assets — 100.0%*		$	*454,444,619*

(a)

Variable or Floating Rate Security. Rate disclosed is as of June 30, 2010.

(b)

Rate represents the effective yield at purchase.

(c)

Step Bond: Coupon rate is set for an initial period and then increased to a higher coupon rate at a specified date. The rate shown is the rate in effect at June 30, 2010.

AGM

— Assured Guaranty Municipal Corp.

AMT

— Subject to alternative minimum tax

FNMA

— Federal National Mortgage Association

GO	— General Obligation

GTD

— Guaranteed

Ins.

— Insured

LOC

— Letter of Credit

MTN

— Medium Term Note

PSF-GTD

— Public School Fund Guaranteed

SPA

— Standby Purchase Agreement

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

Semi-Annual Shareholder Report



*Huntington Ohio Municipal Money Market Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Demand Notes		70.0%
General Market Notes		30.0%
*Total*		*100.0%*

Portfolio of Investments (Unaudited)


Principal Amount			*Value*

	*Municipal Bonds — 99.0%*
	*Ohio — 99.0%*
$	1,000,000	Akron, OH, Health Benefit Claims, Revenue, BAN, 1.750%, 3/17/11	$	1,001,746
	2,500,000	Allen County, OH, Hospital Facilities Revenue, Series A, (LOC - Bank of America N.A.), 0.160%, 10/1/31 (a)		2,500,000
	700,000	Allen County, OH, Hospital Facilities Revenue, Series B, (LOC - JPMorgan Chase Bank), 0.140%, 10/1/31 (a)		700,000
	3,850,000	Ashland, OH, G.O., (Various Purposes), 1.750%, 10/7/10		3,857,670
	145,000	Avon Lake, OH, G.O., (Various Purposes), 2.000%, 12/1/10		145,842
	550,000	Barberton, OH, Street Improvement, G.O., BAN, 2.250%, 11/10/10		551,468
	3,000,000	Bellefontaine, OH, City School District, School Facilities Construction & Improvement, G.O., BAN, 1.000%, 12/15/10		3,006,815
	1,105,000	Butler County, OH, Capital Funding Revenue, Series A, (LOC - U.S. Bank N.A.), 0.300%, 6/1/35 (a)		1,105,000
	8,975,000	Butler County, Port Authority Economic Development Facilities Revenue, Refunding & Improvement, Great Miami Valley, (LOC - JPMorgan Chase Bank), 0.270%, 9/1/37 (a)		8,975,000
	1,220,000	Cleveland, OH, Cuyahoga County Port Authority Revenue, (LOC - JPMorgan Chase Bank), 0.270%, 1/1/37 (a)		1,220,000
	400,000	Cleveland, OH, Cuyahoga County Port Authority Revenue, (LOC - JPMorgan Chase Bank), 0.270%, 1/1/37 (a)		400,000


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	150,000	Cleveland, OH, Waterworks Revenue, Series P, 4.000%, 1/1/11	$	152,485
	2,470,000	Columbus, OH, Airport Authority Revenue, (LOC - U.S. Bank N.A.), 0.300%, 7/1/35 (a)		2,470,000
	750,000	Columbus, OH, G.O., (Various Purposes), Series B, 4.000%, 7/1/10		750,000
	2,100,000	Columbus, OH, G.O., Series 1, (SPA - JPMorgan Chase Bank), 0.270%, 6/1/16 (a)		2,100,000
	2,995,000	Columbus, OH, G.O., Series 1, 0.260%, 12/1/26 (a)		2,995,000
	590,000	Columbus, OH, Regional Airport Authority Capital Funding Revenue, (LOC - U.S. Bank N.A.), 0.300%, 12/1/36 (a)		590,000
	225,000	Columbus, OH, Regional Airport Authority Revenue, Series A, (LOC - U.S. Bank N.A.), 0.300%, 1/1/30 (a)		225,000
	6,450,000	Columbus, OH, Regional Airport Authority Revenue, Series A, (LOC - U.S. Bank N.A.), 0.300%, 3/1/34 (a)		6,450,000
	840,000	Coshocton County, OH, Hospital Facilities Revenue, (LOC - Bank One Chicago N.A.), 0.270%, 3/1/19 (a)		840,000
	1,900,000	Cuyahoga County, OH, Health Care Facilities Revenue, (Visiting Nurse Association), (LOC - National City Bank), 0.280%, 11/1/25 (a)		1,900,000
	1,800,000	Cuyahoga County, OH, Hospital Revenue, (LOC - Key Bank N.A.), 0.260%, 3/1/33 (a)		1,800,000
	1,210,000	Cuyahoga County, OH, Revenue, (Cleveland Clinic), Subseries B3, (SPA - Bank of America N.A.), 0.130%, 1/1/39 (a)		1,210,000

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

Semi-Annual Shareholder Report


*Huntington Ohio Municipal Money Market Fund*		(Continued)


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	2,000,000	Cuyahoga County, OH, Revenue, Subseries B1, (SPA - JPMorgan Chase Bank), 0.130%, 1/1/39 (a)	$	2,000,000
	600,000	Delaware County, OH, Port Authority, Economic Development Revenue, (The Columbus Zoological Park Association, Inc.), (LOC - JPMorgan Chase Bank), 0.320%, 8/1/18 (a)		600,000
	200,000	Delaware, OH, Parks & Recreational Income Tax Special Obligation Revenue, 2.000%, 12/1/10		201,045
	2,000,000	East Knox, OH, Local School District Howard, School Facilities Construction, G.O., BAN, 1.625%, 2/24/11		2,010,668
	125,000	Eastwood, OH, Local School District, School Improvemnt, G.O., (Student Credit Program), 2.000%, 12/1/10		125,569
	3,000,000	Edgewood, OH, City School District, School Improvement, G.O., BAN, Series C, 1.750%, 11/30/10		3,009,270
	2,000,000	Elyria, OH, G.O., BAN, 1.125%, 6/9/11		2,005,112
	1,500,000	Erie County, OH, G.O., BAN, 1.250%, 11/9/10		1,503,099
	950,000	Forest Park, OH, G.O., BAN, 2.250%, 11/1/10		954,725
	600,000	Franklin County, OH, Hospital Revenue, (LOC - Citibank N.A.), 0.270%, 12/1/11 (a)		600,000
	3,640,000	Franklin County, OH, Hospital Revenue, (LOC - Citibank N.A.), 0.270%, 12/1/20 (a)		3,640,000
	100,000	Franklin County, OH, Hospital Revenue, OhioHealth Corp., Series A, (SPA - JPMorgan Chase Bank), 1.500%, 11/1/10		100,160
	1,515,000	Franklin County, OH, Hospital Revenue, U.S. Health Corp., Series A, (LOC - Citibank N.A.), 0.270%, 12/1/21 (a)		1,515,000
	1,870,000	Franklin County, OH, Industrial Development Revenue, (LOC - Bank One Columbus N.A.), 0.290%, 11/1/14 (a)		1,870,000
	590,000	Fulton County, OH, Health Center Revenue, (LOC - JPMorgan Chase Bank), 0.220%, 11/1/35 (a)		590,000
	3,000,000	Geauga County, OH, G.O, BAN, 1.500%, 8/19/10		3,001,994


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	1,935,000	Geauga County, OH, Health Care Facilities Revenue, Heather Hill, Inc. Project, Series A, (LOC - - Bank One Columbus N.A.), 0.280%, 7/1/23 (a)	$	1,935,000
	2,630,000	Geauga County, OH, Health Care Facilities Revenue, Heather Hill, Inc. Project, Series B, (LOC - - Bank One Columbus N.A.), 0.280%, 7/1/23 (a)		2,630,000
	270,000	Greene County, OH, Revenue, (LOC - Bank of America N.A.), 0.450%, 1/1/11 (a)		270,000
	2,340,000	Hamilton County, OH, Economic Development Revenue, Samuel W Bell Home for Sightless, Inc. Project, (LOC - U.S. Bank N.A.), 0.300%, 4/1/22 (a)		2,340,000
	5,335,000	Hamilton County, OH, Health Care Facilities Revenue, Hilltop Health Facilities, (LOC - Bank of America N.A.), 0.340%, 6/1/22 (a)		5,335,000
	3,335,000	Hamilton County, OH, Hospital Facilities Revenue, (LOC - U.S. Bank N.A.), 0.300%, 5/15/28 (a)		3,335,000
	2,080,000	Hamilton County, OH, Hospital Facilities Revenue, (LOC - JPMorgan Chase Bank), 0.300%, 5/15/28 (a)		2,080,000
	555,000	Hamilton County, OH, Hospital Facilities Revenue, Drake Center Inc., Series A, (LOC - U.S. Bank N.A.), 0.300%, 6/1/19 (a)		555,000
	4,420,000	Hamilton County, OH, Parking Facility Improvements Revenue, (LOC - U.S. Bank N.A.), 0.300%, 12/1/26 (a)		4,420,000
	2,500,000	Harrison, OH, Wastewater System Improvement, G.O., BAN, 1.500%, 12/9/10		2,506,557
	500,000	Huron County, OH, Hospital Facilities Revenue, (Fisher-Titus Medical Center), Series A, (LOC - - National City Bank), 0.280%, 12/1/27 (a)		500,000
	7,000,000	Kent State University, OH, General Receipts Revenue, (Various), Series B, (LOC - Bank of America N.A.), 0.290%, 5/1/32 (a)		7,000,000
	1,000,000	Lake County, OH, Service Building, G.O., BAN, 1.000%, 10/6/10		1,001,505

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

Semi-Annual Shareholder Report


*Huntington Ohio Municipal Money Market Fund*		(Continued)


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	600,000	Lima, OH, G.O., BAN, 2.350%, 4/28/11	$	604,143
	3,150,000	Lima, OH, Hospital Revenue, (LOC - JPMorgan Chase Bank), 0.270%, 4/1/37 (a)		3,150,000
	640,000	Lima, OH, Hospital Revenue, Lima Memorial Hospital Project, (LOC - JPMorgan Chase & Co.), 0.270%, 6/1/33 (a)		640,000
	455,000	Lockland, OH, G.O., BAN (Various Purposes), 2.100%, 3/16/11		458,502
	2,250,000	Lorain County, OH, Highway Improvement, G.O., BAN, 1.500%, 3/21/11		2,264,826
	2,290,000	Loveland, OH, G.O., BAN (Various Purposes), 1.750%, 2/23/11		2,306,983
	4,800,000	Lucas County, OH, Hospital Revenue, ProMedica Healthcare, Series A, (LOC - UBS AG), 0.150%, 11/15/34 (a)		4,800,000
	2,150,000	Mahoning County, OH, G.O., BAN (Various Purposes), 2.000%, 11/16/10		2,156,017
	811,000	Maple Heights, OH, City School District, G.O., BAN, 1.125%, 4/13/11		812,728
	500,000	Medina, OH, City School District, G.O., BAN, 1.750%, 5/19/11		503,273
	165,000	Mid-East, OH, Career & Technology Centers, COP, 2.500%, 12/1/10		165,890
	100,000	Middletown, OH, Development Revenue, Bishop Fenwick High School Project, (LOC - JPMorgan Chase Bank), 0.220%, 8/1/33 (a)		100,000
	4,000,000	Montgomery County, OH, Hospital Revenue, Series B, (AGM Ins.), 0.420%, 8/1/47 (a)		4,000,000
	200,000	Mount Vernon, OH, Waterworks Revenue, (Assured Guaranty), 3.000%, 12/1/10		201,832
	3,400,000	Napoleon, OH, G.O., BAN, 2.500%, 7/21/10		3,401,835
	4,116,000	Norton, OH, G.O., BAN (Various Purposes), 1.625%, 9/2/10		4,122,141
	400,000	Ohio Housing Finance Agency Multifamily Revenue, (Housing Chambrel at Montrose), Series F, (Fannie Mae Ins.), 0.350%, 11/15/32 (a)		400,000


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	500,000	Ohio State Air Quality Development Authority Refunding Revenue, Series B, (LOC - Wells Fargo Bank N.A.), 0.230%, 12/1/33 (a)	$	500,000
	400,000	Ohio State Air Quality Development Authority Refunding Revenue, Series B, (LOC - Barclays Bank PLC), 0.220%, 1/1/34 (a)		400,000
	1,125,000	Ohio State Air Quality Development Authority Refunding Revenue, Timken Project, (LOC - Fifth Third Bank), 0.440%, 11/1/25 (a)		1,125,000
	5,000,000	Ohio State Higher Education, (LOC - Bank of America N.A.), 0.190%, 12/1/44 (a)		5,000,000
	205,000	Ohio State Higher Education Facilities Commission Revenue, (Various Higher Educational - Pooled Financing), (LOC - Fifth Third Bank), 0.600%, 9/1/24 (a)		205,000
	2,690,000	Ohio State Higher Education Facilities Revenue, Xavier University, (LOC - U.S. Bank N.A.), 0.280%, 11/1/30 (a)		2,690,000
	500,000	Ohio State Higher Educational Facilities, 0.300%, 12/1/37 (a)		500,000
	345,000	Ohio State Higher Educational Facilities Revenue, (LOC - JPMorgan Chase Bank), 0.300%, 12/1/32 (a)		345,000
	105,000	Ohio State Higher Educational Facilities Revenue, (Various - Pooled Financing), Series B, (LOC - Fifth Third Bank), 0.550%, 11/1/28 (a)		105,000
	1,135,000	Ohio State Higher Educational Facilities Revenue, Marietta College Project, (LOC - JPMorgan Chase Bank), 0.300%, 12/1/24 (a)		1,135,000
	1,180,000	Ohio State Higher Educational Facilities Revenue, Xavier University Project, (Various), (LOC - - U.S. Bank N.A.), 0.280%, 5/1/15 (a)		1,180,000
	200,000	Ohio State Higher Educational Facility Revenue, (Case Western Reserve), Series B-1, (LOC - Bank of America N.A.), 0.170%, 12/1/44 (a)		200,000
	200,000	Ohio State University General Receipts Revenue, (Various), 0.270%, 12/1/17 (a)		200,000

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

Semi-Annual Shareholder Report


*Huntington Ohio Municipal Money Market Fund*		(Continued)


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	3,640,000	Ohio State University General Receipts Revenue, (Various), (AGM Ins.), 0.560%, 12/1/26 (a)	$	3,640,000
	1,160,000	Ohio State University General Receipts Revenue, (Various), 0.270%, 12/1/27 (a)		1,160,000
	425,000	Ohio State University, G.O., Series B, 0.220%, 3/15/25 (a)		425,000
	200,000	Ohio State University, G.O., Series B, 0.220%, 6/1/35 (a)		200,000
	5,350,000	Ohio State University, G.O., Series D, 0.200%, 2/1/19 (a)		5,350,000
	65,000	Ohio State University, Infrastructure Improvements Revenue, Series B, 0.220%, 8/1/21 (a)		65,000
	7,250,000	Ohio State University, Infrastructure Improvements, G.O., Series B, 0.200%, 8/1/17 (a)		7,250,000
	6,855,000	Ohio State University, School Improvements, G.O., Series A, 0.220%, 3/15/25 (a)		6,855,000
	5,105,000	Ohio State Water Development Authority Revenue, (Various), (MBIA Ins.), 0.220%, 12/1/18 (a)		5,105,000
	3,150,000	Ohio State Water Development Authority Revenue, Series B, (LOC - Wachovia Bank N.A.), 0.150%, 12/1/33 (a)		3,150,000
	3,540,000	Ohio State, Economic Development Revenue, YMCA Greater Cincinnati Project, (LOC - Bank One N.A.), 0.280%, 11/1/21 (a)		3,540,000
	500,000	Ohio State, G.O., Series C, 0.200%, 6/15/26 (a)		500,000
	50,000	Ohio State, Highway Capital Improvement, G.O., Series L, 3.000%, 5/1/11		50,952
	700,000	Parma, OH, Hospital Improvements Revenue, Series C, (LOC - JPMorgan Chase Bank), 0.260%, 11/1/30 (a)		700,000
	1,220,000	Salem, OH, Hospital Revenue, (LOC - JPMorgan Chase Bank), 0.270%, 9/1/35 (a)		1,220,000
	1,175,000	Solon, OH, G.O., BAN (Various Purposes), 1.125%, 11/18/10		1,176,677
	1,250,000	Springfield, OH, Local School District, School Improvement, G.O., BAN, 2.250%, 12/15/10		1,258,797


Principal Amount or Shares			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	2,845,000	Summit County, OH, Port Authority Revenue, (LOC - Fifth Third Bank), 0.500%, 11/1/36 (a)	$	2,845,000
	2,210,000	Trumbull County, OH, G.O., BAN (Various Purposes), Series B, 1.750%, 9/21/10		2,214,902
	2,000,000	Union Township, OH, G.O., BAN (Various Purposes), 1.250%, 9/14/10		2,002,248
	5,345,000	University of Akron, OH, General Receipts Revenue, Series C-1, (Assured Guaranty SPA - Dexia Credit Local), 0.380%, 1/1/29 (a)		5,345,000
	5,410,000	University of Akron, OH, General Receipts Revenue, Series C-2, (Assured Guaranty SPA - Dexia Credit Local), 0.380%, 1/1/29 (a)		5,410,000
	1,275,000	University of Cincinnati, OH, General Receipts Revenue, (Various), Series F, (LOC Bayerische Landesbank), 0.440%, 6/1/34 (a)		1,275,000
	2,000,000	University of Cincinnati, OH, General Receipts Revenue, BAN, Series A, 1.500%, 5/12/11		2,011,246
	2,100,000	University of Toledo, OH, General Receipts Revenue, (Various), Series B, (LOC - JPMorgan Chase & Co.), 0.160%, 6/1/32 (a)		2,100,000
	215,000	Van Buren, OH, G.O., Local School District, (AGM Ins.), 2.000%, 12/1/10		216,248
	3,800,000	Wooster, OH, Industrial Development Revenue, 0.320%, 12/1/10 (a)		3,800,000
	*Total Municipal Bonds (Cost $215,119,970)*			*215,119,970*
	*Cash Equivalents — 0.8%*
	1,451,483	Fidelity Institutional Tax-Exempt Portfolio, 0.110% (b)		1,451,483
	270,000	Merrill Lynch Institutional Tax-Exempt Fund, 0.240% (b)		270,000
	*Total Cash Equivalents (Cost $1,721,483)*			*1,721,483*
	Total Investments (Cost $216,841,453) — 99.8%			*216,841,453*
	*Other Assets in Excess of Liabilities — 0.2%*			*366,890*
	*Net Assets — 100.0%*		$	*217,208,343*

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

Semi-Annual Shareholder Report


*Huntington Ohio Municipal Money Market Fund*		(Continued)

(a)

Variable or Floating Rate Security. Rate disclosed is as of June 30, 2010.

(b)

Rate disclosed is the seven day yield as of June 30, 2010.

AGM — Assured Guaranty Municipal Corp.

BAN — Bond Anticipation Note

COP — Certificate of Participation

G.O. — General Obligation

Ins. — Insured

LOC — Letter of Credit

MBIA — Municipal Bond Insurance Association

PLC — Public Liability Co.

SPA — Standby Purchase Agreement

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

Semi-Annual Shareholder Report



*Huntington U.S. Treasury Money Market Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
U.S. Treasury Obligations		67.5%
Repurchase Agreements		32.5%
*Total*		*100.0%*

Portfolio of Investments (Unaudited)


Principal Amount			*Value*

	*U.S. Treasury Obligations — 70.3%*
	*U.S. Treasury Bills — 64.7% (a)*
$	10,000,000	0.175%, 7/8/10	$	9,999,660
	6,757,000	0.155%, 7/15/10		6,756,593
	5,911,000	0.145%, 7/22/10		5,910,500
	7,261,000	0.150%, 7/29/10		7,260,153
	10,000,000	0.165%, 8/5/10		9,998,396
	45,000,000	0.085%, 8/12/10		44,993,235
	20,000,000	0.160%, 8/19/10		19,995,304
	30,000,000	0.150%, 8/26/10		29,991,732
	20,000,000	0.155%, 9/2/10		19,994,400
	5,000,000	0.205%, 9/9/10		4,998,007
	5,000,000	0.240%, 9/16/10		4,997,433
	5,000,000	0.240%, 9/23/10		4,997,200
	10,000,000	0.160%, 9/30/10		9,995,956
	5,000,000	0.265%, 10/7/10		4,996,393
	5,000,000	0.240%, 10/14/10		4,996,500
	3,814,500	0.220%, 10/21/10		3,811,889
	6,044,500	0.240%, 10/28/10		6,039,787
	5,000,000	0.245%, 11/4/10		4,995,713
	5,000,000	0.230%, 11/18/10		4,995,528
	5,000,000	0.220%, 11/26/10		4,995,478
	5,000,000	0.215%, 12/2/10		4,995,401
	5,000,000	0.170%, 12/23/10		4,995,868
	5,000,000	0.215%, 12/30/10		4,994,565
				229,705,691
	*U.S. Treasury Bond — 2.8%*
	10,000,000	3.875%, 7/15/10		10,013,942
	*U.S. Treasury Note — 2.8%*
	10,000,000	2.375%, 8/31/10		10,034,253
	Total U.S. Treasury Obligations (Cost $249,753,886)			*249,753,886*


Principal Amount			*Value*

	*Repurchase Agreements — 33.9%*
$	30,000,000	Barclays Capital Group, 0.040%, dated 6/24/10, due 7/1/10, repurchase price $30,000,233 (Fully collateralized by U.S. Treasury Bond, 3.125%, 5/15/19)	$	30,000,000
	30,000,000	Credit Suisse First Boston Securities, 0.040%, dated 6/28/10, due 7/2/10, repurchase price $30,000,133 (Fully collateralized by U.S. Treasury Bond, 1.875%, 7/15/15)		30,000,000
	30,000,000	Goldman Sachs, 0.020%, dated 6/29/10, due 7/6/10, repurchase price $30,000,116 (Fully collateralized by U.S. Treasury Bond, 3.625%, 8/15/19)		30,000,000
	30,316,200	Morgan Stanley, 0.020%, dated 6/30/10, due 7/1/10, repurchase price $30,316,217 (Fully collateralized by U.S. Treasury Bond, 1.375%, 5/15/13)		30,316,200
	Total Repurchase Agreements (Cost $120,316,200)			*120,316,200*
	Total Investments (Cost $370,070,086) — 104.2%			*370,070,086*
	*Liabilities in Excess of Other Assets — (4.2)%*			*(14,822,616)*
	*Net Assets — 100.0%*		$	*355,247,470*

(a)

Rate represents the effective yield at purchase.

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

Semi-Annual Shareholder Report



*Huntington Dividend Capture Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Common Stocks		70.0%
Preferred Stocks		25.4%
Cash¹		3.3%
Exchange Traded Funds		1.3%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


*Shares*		*Value*

*Common Stocks — 70.0%*
*Consumer Discretionary — 5.8%*
32,000	Comcast Corp., Class A	$	555,840
27,000	Fortune Brands, Inc.		1,057,860
18,000	J.C. Penney Co., Inc.		386,640
33,000	Lowe’s Cos., Inc.		673,860
5,000	The Walt Disney Co.		157,500
40,500	Time Warner, Inc.		1,170,855
14,000	V.F. Corp.		996,520
			4,999,075
*Consumer Staples — 7.8%*
35,000	General Mills, Inc.		1,243,200
19,500	Kellogg Co.		980,850
22,000	Reynolds American, Inc.		1,146,640
25,000	Ruddick Corp.		774,750
10,000	Sanderson Farms, Inc.		507,400
18,500	The Estee Lauder Cos., Inc., Class A		1,031,005
27,000	Universal Corp.		1,071,360
			6,755,205
*Energy — 6.9%*
21,000	Chevron Texaco Corp.		1,425,060
11,500	ConocoPhillips		564,535
24,000	Eni SpA ADR		877,200
21,000	Exxon Mobil Corp.		1,198,470
17,000	Halliburton Co.		417,350
34,000	Marathon Oil Corp.		1,057,060
26,500	The Williams Cos., Inc.		484,420
			6,024,095
*Financials — 12.5%*
47,500	American Financial Group, Inc.		1,297,700
31,500	BB&T Corp.		828,765
8,000	Chubb Corp.		400,080
14,000	Everest Re Group Ltd.		990,080
61,500	Federated Investors, Inc., Class B		1,273,665
7,000	JPMorgan Chase & Co.		256,270
21,500	Prudential Financial, Inc.		1,153,690
24,000	Royal Bank of Canada		1,146,960


*Shares*		*Value*

*Common Stocks — (Continued)*
*Financials — (Continued)*
22,000	The Travelers Cos., Inc.	$	1,083,500
61,000	Unitrin, Inc.		1,561,600
40,000	Unum Group		868,000
			10,860,310
*Health Care — 7.0%*
31,000	Abbott Laboratories		1,450,180
33,500	AstraZeneca PLC ADR		1,578,855
31,000	Baxter International, Inc.		1,259,840
37,000	Eli Lilly & Co.		1,239,500
35,500	Pfizer, Inc.		506,230
			6,034,605
*Industrials — 8.6%*
14,500	3M Co.		1,145,355
25,500	A.O. Smith Corp.		1,228,845
15,000	Deere & Co.		835,200
10,000	Flowserve Corp.		848,000
90,500	General Electric Co.		1,305,010
9,000	International Paper Co.		203,670
20,500	Raytheon Co.		991,995
12,500	Union Pacific Corp.		868,875
			7,426,950
*Materials — 1.3%*
37,000	MeadWestvaco Corp.		821,400
10,500	Southern Copper Corp.		278,670
			1,100,070
*Real Estate Investment Trusts — 11.5%*
23,000	Acadia Realty Trust		386,860
11,500	EastGroup Properties, Inc.		409,170
6,500	Entertainment Properties Trust		247,455
16,000	Equity Residential		666,240
24,000	HCP, Inc.		774,000
22,000	Health Care REIT, Inc.		926,640
32,500	Highwoods Properties, Inc.		902,200
9,000	Liberty Property Trust		259,650

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

Semi-Annual Shareholder Report


*Huntington Dividend Capture Fund*		(Continued)


*Shares*		*Value*

*Common Stocks — (Continued)*
*Real Estate Investment Trusts — (Continued)*
19,000	Mack-Cali Realty Corp.	$	564,870
12,000	Mid-America Apartment Communities, Inc.		617,640
27,000	National Health Investors, Inc.		1,041,120
28,000	National Retail Properties, Inc.		600,320
9,500	PS Business Parks, Inc.		529,910
45,000	Ramco-Gershenson Properties Trust		454,500
11,919	Simon Property Group, Inc.		962,459
17,000	Sovran Self Storage, Inc.		585,310
			9,928,344
*Technology — 2.7%*
39,000	Intel Corp.		758,550
4,000	International Business Machines Corp.		493,920
27,000	Microsoft Corp.		621,270
32,299	Taiwan Semiconductor Manufacturing Co. Ltd. ADR		315,238
8,000	Texas Instruments, Inc.		186,240
			2,375,218
*Telecommunications — 2.5%*
48,000	AT&T, Inc.		1,161,120
25,500	CenturyTel, Inc.		849,405
6,000	Verizon Communications, Inc.		168,120
			2,178,645
*Utilities — 3.4%*
36,000	Nicor, Inc.		1,458,000
98,000	TECO Energy, Inc.		1,476,860
			2,934,860
*Total Common Stocks (Cost $61,070,980)*			*60,617,377*
*Preferred Stocks — 25.4%*
*Consumer Discretionary — 1.5%*
15,000	Comcast Corp., 7.000%		384,600
35,000	Viacom, Inc., 6.850%		871,850
			1,256,450
*Financials — 20.6%*
45,000	Allianz SE, 8.375%		1,137,659
20,000	ASBC Capital I, 7.625%		444,000
40,000	Barclays Bank PLC, Series 2, ADR 6.625%		813,600
44,998	BB&T Capital Trust V, 8.950%		1,205,047
35,000	Credit Suisse Guernsey, 7.900%		890,750
15,000	HSBC Holdings PLC, Series A, ADR 6.200%		321,750
40,000	JPM Chase Capital XXVI, 8.000%		1,056,000
12,000	KeyCorp Capital VIII, 7.000%		268,080
10,000	Lincoln National Capital VI, Series F, 6.750%		230,500
40,000	Merrill Lynch & Co. Capital Trust V, 7.280%		892,000


*Shares*		*Value*

*Preferred Stocks — (Continued)*
*Financials — (Continued)*
18,000	MetLife, Inc., Series B, 6.500%	$	418,680
50,000	Morgan Stanley Capital Trust, 6.600%		1,092,000
55,000	National City Capital Trust II, 6.625%		1,278,200
30,296	Partnerre Ltd., Series D, 6.500%		663,482
42,386	PLC Capital Trust IV, 7.250%		1,022,774
40,000	Prudential Financial, Inc., 9.000%		1,087,200
30,000	Prudential PLC, 6.500%		699,000
58,000	RenaissanceRe Holdings Ltd., Series B, 7.300%		1,392,580
20,000	RenaissanceRe Holdings Ltd., Series C, 6.080%		391,800
12,308	SunTrust Capital IX, 7.875%		309,915
50,000	Telephone & Data Systems, Inc., Series A, 7.600%		1,248,500
40,000	Wachovia Capital Trust X, 7.850%		1,022,400
			17,885,917
*Real Estate Investment Trusts — 2.1%*
35,000	Public Storage, Series F, 6.450%		817,950
40,000	Vornado Realty LP, 7.875%		1,004,800
			1,822,750
*Utilities — 1.2%*
28,000	Dominion Resources, Inc., Series A, 8.375%		778,400
10,000	Xcel Energy, Inc., 7.600%		267,000
			1,045,400
*Total Preferred Stocks (Cost $20,983,055)*			*22,010,517*
*Mutual Funds — 1.3%*
*Exchange Traded Funds — 1.3%*
55,000	The Technology Select Sector SPDR Fund		1,122,000
*Total Mutual Funds (Cost $914,245)*			*1,122,000*
*Cash Equivalents — 3.3%*
2,893,485	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		2,893,485
*Total Cash Equivalents (Cost $2,893,485)*			*2,893,485*
Total Investments (Cost $85,861,765) — 100.0%			*86,643,379*
*Other Assets in Excess of Liabilities — 0.0%*			*17,986*
*Net Assets — 100.0%*		$	*86,661,365*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2010.

ADR — American Depositary Receipt

LP — Limited Partnership

PLC — Public Liability Co.

REIT — Real Estate Investment Trust

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

Semi-Annual Shareholder Report



*Huntington Global Select Markets Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Common Stocks		78.4%
Cash¹		11.7%
Exchange Traded Funds		5.3%
Foreign Bonds		4.6%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


*Shares*			*Value*

*Common Stocks — 84.1%*
*Bermuda — 4.3%*
*Consumer Staples — 1.7%*
120,000	China Yurun Food Group Ltd.		$	375,668
*Technology — 1.3%*
200,000	Digital China Holdings Ltd.			305,789
*Transportation — 1.3%*
10,200	Nordic American Tanker Shipping Ltd.			286,518
				967,975
*Brazil — 12.1%*
*Consumer Discretionary — 1.6%*
4,000	Companhia Brasileira de Distribuicao Grupo Pao de Acucar ADR			278,080
6,000	Companhia de Saneamento de Minas Gerais			83,125
				361,205
*Consumer Staples — 4.0%*
4,500	Companhia de Bebidas das Americas ADR			454,545
20,000	Lojas Americanas SA			142,754
13,000	Natura Cosmeticos SA			288,169
				885,468
*Energy — 1.1%*
7,500	Petroleo Brasileiro SA ADR			257,400
*Financials — 2.9%*
20,000	Banco Santander Brasil SA ADR	��		206,600
7,900	Itau Unibanco Holding SA			142,458
21,000	Redecard SA			296,875
				645,933
*Telecommunications — 1.4%*
12,000	Vivo Participacoes SA ADR			311,040


*Shares*		*Value*

*Common Stocks — (Continued)*
*Brazil — (Continued)*
*Utilities — 1.1%*
16,500	Companhia Energetica de Minas Gerais SA SP ADR	$	242,055
			2,703,101
*Canada — 4.1%*
*Energy — 1.6%*
7,500	EnCana Corp.		227,550
4,200	TransCanada Corp.		140,406
			367,956
*Financials — 1.0%*
3,900	Bank of Montreal		211,692
*Materials — 1.5%*
3,900	Potash Corp. of Saskatchewan, Inc.		336,336
			915,984
*Cayman Islands — 1.9%*
*Consumer Discretionary — 1.1%*
135,000	Anta Sports Products Ltd.		243,073
*Health Care — 0.8%*
6,000	Mindray Medical International Ltd. ADR		188,520
			431,593
*China — 4.1%*
*Consumer Staples — 1.5%*
70,000	Tsingtao Brewery Co. Ltd., H Shares		327,122
*Energy — 1.3%*
2,700	PetroChina Co. Ltd. ADR		296,271
*Financials — 1.3%*
4,600	China Life Insurance Co. Ltd. ADR		299,920
			923,313

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

Semi-Annual Shareholder Report


*Huntington Global Select Markets Fund*		(Continued)


*Shares*		*Value*

*Common Stocks — (Continued)*
*Hong Kong — 11.6%*
*Consumer Discretionary — 0.5%*
350,000	GOME Electrical Appliances Holdings Ltd.*	$	105,748
*Consumer Staples — 1.0%*
135,000	Parkson Retail Group Ltd.		227,905
*Energy — 1.3%*
97,000	Dongfang Electric Corp. Ltd., H Shares		299,653
*Financials — 4.4%*
550,000	Bank of China Ltd., H Shares		277,487
152,000	China Resources Land Ltd.		285,417
12,000	Hong Kong Exchanges & Clearing Ltd.		187,131
90,000	The Link REIT		222,687
			972,722
*Industrials — 3.0%*
55,000	Beijing Enterprises Holdings Ltd.		357,308
27,000	Swire Pacific Ltd., Class A		305,951
			663,259
*Telecommunications — 1.4%*
6,500	China Mobile Ltd. SP ADR		321,165
			2,590,452
*India — 12.4%*
*Energy — 1.8%*
8,000	Bharat Heavy Electricals Ltd.		421,433
*Financials — 5.2%*
13,000	Axis Bank Ltd.		344,476
10,000	ICICI Bank Ltd. ADR		361,400
70,000	Rural Electrification Corp. Ltd.		455,973
			1,161,849
*Health Care — 3.5%*
13,000	Dr. Reddy’s Laboratories Ltd. ADR		401,050
10,000	Sun Pharmaceutical Industries Ltd.		382,303
			783,353
*Materials — 1.0%*
30,000	Sesa Goa Ltd.		222,889
*Technology — 0.9%*
3,300	Infosys Technologies Ltd. SP ADR		197,703
			2,787,227
*Indonesia — 8.3%*
*Consumer Discretionary — 1.2%*
50,000	PT Astra International Tbk		263,344
*Consumer Staples — 1.6%*
800,000	PT Indofood Sukses Makmur Tbk		361,363


*Shares*		*Value*

*Common Stocks — (Continued)*
*Indonesia — (Continued)*
*Financials — 0.8%*
280,000	PT Bank Mandiri Tbk	$	182,411
*Industrials — 3.9%*
1,540,000	PT Holcim Indonesia Tbk*		364,759
260,000	PT Semen Gresik Tbk		248,789
125,000	PT United Tractors Tbk		255,406
			868,954
*Telecommunications — 0.8%*
5,400	PT Telekomunikasi Indonesia Tbk SP ADR		184,842
			1,860,914
*Poland — 2.7%*
*Consumer Discretionary — 1.0%*
50,000	TVN SA		233,089
*Financials — 0.7%*
3,200	Bank Pekao SA		145,917
*Technology — 1.0%*
13,825	Asseco Poland SA		218,846
			597,852
*South Korea — 10.6%*
*Consumer Discretionary — 2.3%*
3,050	LG Electronics, Inc.		232,941
470	Samsung Electronics Co. Ltd.		295,147
			528,088
*Consumer Staples — 1.1%*
850	LG Household & Health Care Ltd.		240,955
*Financials — 1.9%*
21,420	Korean Reinsurance Co.		168,051
7,000	Shinhan Financial Group Co. Ltd.		257,835
			425,886
*Industrials — 2.7%*
1,700	Hyundai Heavy Industries Co. Ltd.		324,284
2,900	POSCO ADR		273,528
			597,812
*Materials — 1.1%*
1,400	Korea Zinc Co. Ltd.		246,712
*Telecommunications — 1.5%*
18,000	KT Corp. SP ADR		345,060
			2,384,513
*Taiwan — 10.9%*
*Consumer Discretionary — 0.9%*
70,000	President Chain Store Corp.		206,422
*Financials — 0.7%*
104,000	Cathay Financial Holding Co. Ltd.*		153,833

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

Semi-Annual Shareholder Report


*Huntington Global Select Markets Fund*		(Continued)


Principal Amount or Shares		*Value*

*Common Stocks — (Continued)*
*Taiwan — (Continued)*
*Industrials — 2.5%*
272,000	Asia Cement Corp.	$	238,553
129,000	Taiwan Fertilizer Co. Ltd.		338,226
			576,779
*Technology — 5.5%*
80,000	Hon Hai Precision Industry Co. Ltd.*		281,132
16,000	MediaTek, Inc.		223,281
230,000	Taiwan Semiconductor Manufacturing Co. Ltd.		430,325
202,000	Unimicron Technology Corp.		293,600
			1,228,338
*Telecommunications — 1.3%*
14,636	Chunghwa Telecom Co. Ltd. ADR		288,183
			2,453,555
*United Kingdom — 0.4%*
*Materials — 0.4%*
1,800	Rio Tinto PLC ADR		78,480
*United States — 0.7%*
*Telecommunications — 0.7%*
4,500	NII Holdings, Inc.*		146,340
*Total Common Stocks (Cost $19,892,370)*			*18,841,299*
*Foreign Bonds — 4.9%*
200,000	Australian Government Bond, 6.000%, 2/15/17		178,560
200,000	Australian Government Bond, 6.250%, 4/15/15		179,476
250,000	Brazilian Government International Bond, 12.500%, 1/5/16		154,129
200,000	Canadian Government Bond, 4.000%, 6/1/17		202,612
350,000	European Bank for Reconstruction & Development, Series G, MTN, 9.500%, 11/6/13		195,084
1,700,000,000	KfW, Series E, 7.500%, 7/17/12 (IDR) (a)		192,160
*Total Foreign Bonds (Cost $1,109,258)*			*1,102,021*


Principal Amount or Shares			*Value*

	*U.S. Treasury Obligations — 0.0%*
	*U.S. Treasury Bill — 0.0%*
$	600	0.181%, 7/1/10 (b)	$	600
	*Total U.S. Treasury Obligations (Cost $600)*			*600*
	*Mutual Funds — 5.6%*
	*Exchange Traded Funds — 5.6%*
	6,200	iPath MSCI India Index ETN		396,800
	8,000	iShares Dow Jones Canada Select Dividend Index Fund		146,240
	5,100	iShares FTSE/Xinhua China 25 Index Fund		199,563
	4,001	iShares MSCI South Korea Index Fund		178,885
	10,000	Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.		146,500
	6,500	The India Fund, Inc.		196,625
	*Total Mutual Funds (Cost $1,290,128)*			*1,264,613*
	*Cash Equivalents — 12.6%*
	250	Fidelity Institutional Money Market Portfolio, 0.300% (c)		250
	2,823,494	Huntington Money Market Fund, Interfund Shares, 0.010% (c) (d) (e)		2,823,494
	*Total Cash Equivalents (Cost $2,823,744)*			*2,823,744*
	Total Investments (Cost $25,116,100) — 107.2%			*24,032,277*
	*Liabilities in Excess of Other Assets — (7.2)%*			*(1,623,111)*
	*Net Assets — 100.0%*		$	*22,409,166*

(a)

Foreign-denominated security.

(b)

Rate represents the effective yield at purchase.

(c)

All or a portion of the security is held as collateral for options.

(d)

Rate disclosed is the seven day yield as of June 30, 2010.

(e)

Investment in affiliate.

*	Non-income producing security.

ADR — American Depositary Receipt

ETN — Exchange Traded Note

IDR — Industrial Development Revenue

MTN — Medium Term Note

PLC — Public Liability Co.

REIT — Real Estate Investment Trust

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

Semi-Annual Shareholder Report



*Huntington Growth Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Technology		34.3%
Energy		16.3%
Industrials		14.6%
Consumer Discretionary		9.5%
Consumer Staples		7.1%
Health Care		7.1%
Financials		5.3%
Materials		4.1%
Telecommunications		1.0%
Utilities		0.5%
Cash¹		0.2%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


*Shares*		*Value*

*Common Stocks — 99.9%*
*Consumer Discretionary — 9.5%*
31,680	Coach, Inc.	$	1,157,904
146,630	Crocs, Inc.*		1,551,345
85,280	Ctrip.com International Ltd. ADR*		3,203,117
34,730	DIRECTV, Class A*		1,178,042
37,980	Netflix, Inc.*		4,126,527
			11,216,935
*Consumer Staples — 7.1%*
32,130	Colgate-Palmolive Co.		2,530,559
49,930	General Mills, Inc.		1,773,514
40,500	Hormel Foods Corp.		1,639,440
32,100	McCormick & Co., Inc.		1,218,516
20,630	Procter & Gamble Co.		1,237,387
			8,399,416
*Energy — 16.4%*
31,680	China Petroleum & Chemical Corp. ADR		2,550,557
15,010	CNOOC Ltd. ADR		2,554,252
46,950	ConocoPhillips		2,304,775
17,170	Core Laboratories NV		2,534,464
53,220	Enbridge, Inc.		2,480,052
22,868	EOG Resources, Inc.		2,249,525
40,610	Exxon Mobil Corp.		2,317,613
59,480	Peabody Energy Corp.		2,327,452
			19,318,690
*Financials — 5.3%*
37,050	China Life Insurance Co. Ltd. ADR		2,415,660
133,240	Hudson City Bancorp, Inc.		1,630,858


*Shares*		*Value*

*Common Stocks — (Continued)*
*Financials — (Continued)*
32,750	JPMorgan Chase & Co.	$	1,198,977
20,090	Prudential Financial, Inc.		1,078,029
			6,323,524
*Health Care — 7.1%*
73,710	Eli Lilly & Co.		2,469,285
26,710	Express Scripts, Inc.*		1,255,904
35,700	Mindray Medical International Ltd. ADR		1,121,694
30,510	Novo-Nordisk A/S ADR		2,471,920
20,000	Varian Medical Systems, Inc.*		1,045,600
			8,364,403
*Industrials — 14.6%*
65,150	Caterpillar, Inc.		3,913,561
76,970	CSX Corp.		3,820,021
39,250	Deere & Co.		2,185,440
56,730	Union Pacific Corp.		3,943,302
34,000	W.W. Grainger, Inc.		3,381,300
			17,243,624
*Materials — 4.1%*
35,060	Aluminum Corp. of China Ltd. ADR*		654,219
17,830	ArcelorMittal, Class A NYS		477,131
10,530	BHP Billiton Ltd. ADR		652,755
16,930	Du Pont (E.I.) de Nemours & Co.		585,609
9,790	Freeport-McMoran Copper & Gold, Inc., Class B		578,883
9,140	Praxair, Inc.		694,548
14,970	Rio Tinto PLC ADR		652,692

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

Semi-Annual Shareholder Report


*Huntington Growth Fund*		(Continued)


*Shares*		*Value*

*Common Stocks — (Continued)*
*Materials — (Continued)*
21,920	Vale SA ADR	$	533,752
			4,829,589
*Technology — 34.3%*
134,960	Akamai Technologies, Inc.*		5,475,327
22,560	Apple, Inc.*		5,674,517
80,250	Baidu, Inc. SP ADR*		5,463,420
36,250	Cognizant Technology Solutions Corp., Class A*		1,814,675
2,640	Google, Inc., Class A*		1,174,668
94,220	NetApp, Inc.*		3,515,348
52,960	Oracle Corp.		1,136,522
65,780	Salesforce.com, Inc.*		5,645,240
130,450	SanDisk Corp.*		5,488,031
81,700	VMware, Inc., Class A*		5,113,603
			40,501,351
*Telecommunications — 1.0%*
24,000	America Movil SA de CV ADR, Series L		1,140,000
*Utilities — 0.5%*
12,370	NextEra Energy, Inc.		603,161
*Total Common Stocks (Cost $114,669,867)*			*117,940,693*


*Shares*		*Value*

*Cash Equivalents — 0.2%*
237,622	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)	$	237,622
*Total Cash Equivalents (Cost $237,622)*			*237,622*
Total Investments (Cost $114,907,489) — 100.1%			*118,178,315*
*Liabilities in Excess of Other Assets — (0.1)%*			*(120,242)*
*Net Assets — 100.0%*		$	*118,058,073*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2010.

*	Non-income producing security.

ADR

— American Depositary Receipt

NYS

— New York Shares

PLC

— Public Liability Co.

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

Semi-Annual Shareholder Report



*Huntington Income Equity Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Financials		15.7%
Industrials		13.7%
Consumer Staples		12.8%
Energy		11.4%
Health Care		11.3%
Consumer Discretionary		9.7%
Technology		6.6%
Utilities		5.7%
Real Estate Investment Trusts		4.5%
Telecommunications		4.1%
Materials		2.4%
Cash¹		2.1%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


*Shares*		*Value*

*Common Stocks — 97.7%*
*Consumer Discretionary — 9.7%*
91,000	Comcast Corp., Class A	$	1,580,670
65,000	Limited Brands, Inc.		1,434,550
48,600	The McGraw-Hill Cos., Inc.		1,367,604
24,700	Time Warner Cable, Inc.		1,286,376
63,666	Time Warner, Inc. (a)		1,840,584
20,500	Whirlpool Corp.		1,800,310
			9,310,094
*Consumer Staples — 12.7%*
94,000	ConAgra Foods, Inc.		2,192,080
46,400	General Mills, Inc.		1,648,128
21,400	Kimberly-Clark Corp.		1,297,482
23,100	PepsiCo, Inc.		1,407,945
31,700	Reynolds American, Inc.		1,652,204
190,000	Sara Lee Corp.		2,679,000
49,000	Sysco Corp.		1,399,930
			12,276,769
*Energy — 11.4%*
23,000	Chevron Texaco Corp.		1,560,780
23,300	ConocoPhillips		1,143,797
74,000	Enerplus Resources Fund		1,596,180
34,100	Eni SpA ADR		1,246,355
93,000	Penn West Energy Trust		1,768,860
67,000	Repsol YPF SA ADR		1,346,700
21,900	Royal Dutch Shell PLC ADR		1,099,818


*Shares*		*Value*

*Common Stocks — (Continued)*
*Energy — (Continued)*
27,800	Total SA ADR	$	1,240,992
			11,003,482
*Financials — 15.6%*
39,600	Bank of Montreal		2,149,488
31,000	Canadian Imperial Bank of Commerce		1,929,130
38,800	Chubb Corp.		1,940,388
45,200	The Bank of Nova Scotia		2,080,104
34,900	The Toronto-Dominion Bank		2,265,359
53,000	The Travelers Cos., Inc.		2,610,250
131,000	XL Capital Ltd., Class A (a)		2,097,310
			15,072,029
*Health Care — 11.3%*
30,700	Abbott Laboratories		1,436,146
54,000	AstraZeneca PLC ADR (a)		2,545,020
64,000	Eli Lilly & Co.		2,144,000
27,900	Merck & Co., Inc.		975,663
122,000	Pfizer, Inc.		1,739,720
69,000	Sanofi-Aventis ADR		2,074,140
			10,914,689
*Industrials — 13.7%*
26,200	3M Co.		2,069,538
34,000	Caterpillar, Inc.		2,042,380
30,000	General Dynamics Corp.		1,756,800
112,000	General Electric Co.		1,615,040

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

Semi-Annual Shareholder Report


*Huntington Income Equity Fund*		(Continued)


*Shares*		*Value*

*Common Stocks — (Continued)*
*Industrials — (Continued)*
41,800	Northrop Grumman Corp.	$	2,275,592
82,000	Pitney Bowes, Inc.		1,800,720
101,000	R.R. Donnelley & Sons Co.		1,653,370
			13,213,440
*Materials — 2.4%*
23,500	Eastman Chemical Co.		1,253,960
49,300	MeadWestvaco Corp.		1,094,460
			2,348,420
*Real Estate Investment Trusts — 4.5%*
71,000	HCP, Inc. (a)		2,289,750
70,000	Mack-Cali Realty Corp.		2,081,100
			4,370,850
*Technology — 6.6%*
29,500	Hewlett-Packard Co.		1,276,760
92,000	Intel Corp. (a)		1,789,400
11,300	International Business Machines Corp.		1,395,324
83,000	Microsoft Corp. (a)		1,909,830
			6,371,314
*Telecommunications — 4.1%*
46,000	AT&T, Inc.		1,112,740
50,000	Vodafone Group PLC ADR		1,033,500
174,000	Windstream Corp.		1,837,440
			3,983,680


*Shares*		*Value*

*Common Stocks — (Continued)*
*Utilities — 5.7%*
33,800	DTE Energy Co.	$	1,541,618
75,000	Duke Energy Corp.		1,200,000
119,000	NiSource, Inc.		1,725,500
26,600	Progress Energy, Inc.		1,043,252
			5,510,370
*Total Common Stocks (Cost $93,698,968)*			*94,375,137*
*Cash Equivalents — 2.1%*
2,002,587	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)		2,002,587
*Total Cash Equivalents (Cost $2,002,587)*			*2,002,587*
Total Investments (Cost $95,701,555) — 99.8%			*96,377,724*
*Other Assets in Excess of Liabilities — 0.2%*			*184,357*
*Net Assets — 100.0%*		$	*96,562,081*

(a)

All or a portion of the security is held as collateral for options.

(b)

Rate disclosed is the seven day yield as of June 30, 2010.

(c)

Investment in affiliate.

ADR

— American Depositary Receipt

PLC

— Public Liability Co.

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

Semi-Annual Shareholder Report



*Huntington International Equity Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Japan		21.8%
United Kingdom		20.6%
Switzerland		6.9%
France		6.8%
Cash¹		5.9%
Germany		5.9%
Exchange Traded Funds		5.2%
Canada		5.1%
Australia		4.1%
Singapore		3.5%
Spain		3.4%
Netherlands		3.3%
Hong Kong		2.2%
Taiwan		1.9%
Italy		1.2%
Mexico		1.1%
Netherlands Antilles		1.1%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


*Shares*		*Value*

*Common Stocks — 89.0%*
*Australia — 4.1%*
*Consumer Staples — 2.0%*
1,100,000	Foster’s Group Ltd.	$	5,202,374
*Materials — 2.1%*
180,000	BHP Billiton Ltd.		5,596,330
			10,798,704
*Canada — 5.2%*
*Energy — 2.3%*
108,000	Cenovus Energy, Inc.		2,785,320
108,000	EnCana Corp.		3,276,720
			6,062,040
*Materials — 1.3%*
37,700	Potash Corp. of Saskatchewan, Inc.		3,251,248
*Telecommunications — 1.6%*
146,000	BCE, Inc.		4,273,420
			13,586,708


*Shares*		*Value*

*Common Stocks — (Continued)*
*France — 6.8%*
*Energy — 1.7%*
103,140	Total SA	$	4,589,642
*Financials — 2.4%*
123,900	AXA ADR		1,889,475
84,011	BNP Paribas		4,485,180
			6,374,655
*Materials — 1.3%*
62,000	Lafarge SA		3,352,107
*Utilities — 1.4%*
81,000	GDF Suez		2,291,424
46,172	GDF Suez ADR		1,313,594
			3,605,018
			17,921,422
*Germany — 5.9%*
*Consumer Discretionary — 1.6%*
86,000	Henkel AG & Co. KGaA		4,178,520

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

Semi-Annual Shareholder Report


*Huntington International Equity Fund*		(Continued)


*Shares*		*Value*

*Common Stocks — (Continued)*
*Germany — (Continued)*
*Health Care — 1.7%*
139,300	Stada Arzneimittel AG	$	4,614,548
*Industrials — 2.6%*
138,000	GEA Group AG		2,743,546
46,000	Siemens AG		4,124,801
			6,868,347
			15,661,415
*Hong Kong — 2.2%*
*Consumer Discretionary — 1.2%*
910,000	MTR Corp. Ltd.		3,100,856
*Financials — 1.0%*
580,000	The Wharf (Holdings) Ltd.		2,807,813
			5,908,669
*Italy — 1.2%*
*Energy — 1.2%*
102,000	Saipem SpA		3,099,492
*Japan — 21.8%*
*Consumer Discretionary — 5.1%*
176,000	Honda Motor Co. Ltd.		5,112,175
107,000	Makita Corp.		2,854,879
438,000	Matsushita Electric Industrial Co. Ltd.		5,470,161
			13,437,215
*Consumer Staples — 4.0%*
230,000	Shiseido Co. Ltd.		5,059,897
48,600	Unicharm Corp.		5,473,949
			10,533,846
*Financials — 2.4%*
1,500	Japan Prime Realty Investment Corp.		3,152,666
400	Japan Real Estate Investment Corp.		3,262,782
			6,415,448
*Industrials — 4.6%*
61,000	FANUC Ltd.		6,844,754
296,000	KOMATSU Ltd.		5,349,647
			12,194,401
*Technology — 4.4%*
168,500	Canon, Inc.		6,283,265
22,900	KEYENCE Corp.		5,268,779
			11,552,044
*Utilities — 1.3%*
128,000	The Tokyo Electric Power Co., Inc.		3,485,078
			57,618,032
*Mexico — 1.1%*
*Telecommunications — 1.1%*
62,500	America Movil SA de CV ADR, Series L		2,968,750


*Shares*		*Value*

*Common Stocks — (Continued)*
*Netherlands — 3.3%*
*Consumer Discretionary — 2.6%*
226,000	Koninklijke (Royal) Phillips Electronics NV NYS	$	6,743,840
*Financials — 0.7%*
261,710	ING Groep NV ADR*		1,939,271
			8,683,111
*Netherlands Antilles — 1.1%*
*Energy — 1.1%*
51,352	Schlumberger Ltd.		2,841,820
*Singapore — 3.5%*
*Financials — 0.0%*
118,400	K-Green Trust*		88,863
*Industrials — 1.4%*
592,000	Keppel Corp. Ltd.		3,567,866
*Telecommunications — 2.1%*
2,575,930	Singapore Telecommunications Ltd.		5,565,334
			9,222,063
*Spain — 3.4%*
*Financials — 3.4%*
519,066	Banco Bilbao Vizcaya Argentaria SA ADR		5,341,189
350,000	Banco Santander SA		3,677,353
			9,018,542
*Switzerland — 6.9%*
*Financials — 1.7%*
85,000	ACE Ltd.		4,375,800
*Health Care — 3.0%*
91,400	Novartis AG		4,435,843
25,300	Roche Holding AG		3,475,416
			7,911,259
*Materials — 2.2%*
128,100	Syngenta AG ADR		5,873,385
			18,160,444
*Taiwan — 1.9%*
*Technology — 1.9%*
522,854	Taiwan Semiconductor Manufacturing Co. Ltd. ADR		5,103,055
*United Kingdom — 20.6%*
*Consumer Discretionary — 2.2%*
453,000	Pearson PLC		5,927,191
*Consumer Staples — 3.6%*
109,000	Reckitt Benckiser Group PLC		5,041,286
778,284	Tesco PLC		4,381,515
			9,422,801

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

Semi-Annual Shareholder Report


*Huntington International Equity Fund*		(Continued)


*Shares*		*Value*

*Common Stocks — (Continued)*
*United Kingdom — (Continued)*
*Energy — 3.3%*
338,000	BG Group PLC	$	5,002,769
144,000	Royal Dutch Shell PLC, Class A		3,636,005
			8,638,774
*Financials — 3.9%*
950,000	Barclays PLC		3,765,785
265,000	Standard Chartered PLC		6,432,246
			10,198,031
*Health Care — 2.6%*
198,850	GlaxoSmithKline PLC ADR		6,762,889
*Industrials — 2.1%*
678,000	Rolls-Royce Group PLC		5,645,300
*Telecommunications — 1.9%*
2,430,000	Vodafone Group PLC		5,034,814
*Utilities — 1.0%*
161,100	Scottish & Southern Energy PLC		2,670,305
			54,300,105
*Total Common Stocks (Cost $231,948,536)*			*234,892,332*


*Shares*		*Value*

*Mutual Funds — 5.2%*
*Exchange Traded Funds — 5.2%*
212,000	iShares MSCI Hong Kong Index Fund	$	3,131,240
69,500	iShares MSCI South Korea Index Fund		3,107,345
322,000	iShares MSCI Taiwan Index Fund		3,606,400
139,000	Morgan Stanley India Fund		3,080,240
40,000	ProShares UltraShort Yen		753,600
*Total Mutual Funds (Cost $12,646,060)*			*13,678,825*
*Cash Equivalents — 5.9%*
15,464,486	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		15,464,486
*Total Cash Equivalents (Cost $15,464,486)*			*15,464,486*
Total Investments (Cost $260,059,082) — 100.1%			*264,035,643*
*Liabilities in Excess of Other Assets — (0.1)%*			*(284,100)*
*Net Assets — 100.0%*		$	*263,751,543*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2010.

*	Non-income producing security.

ADR — American Depositary Receipt

NYS — New York Shares

PLC — Public Liability Co.

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

Semi-Annual Shareholder Report



*Huntington Macro 100 Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Technology		16.7%
Energy		12.1%
Cash¹		11.0%
Industrials		10.9%
Health Care		10.6%
Financials		10.3%
Consumer Staples		10.0%
Consumer Discretionary		7.9%
Materials		5.1%
Telecommunications		2.0%
Real Estate Investment Trusts		1.7%
Utilities		1.7%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


*Shares*		*Value*

*Common Stocks — 89.0%*
*Consumer Discretionary — 7.9%*
1,150	AutoZone, Inc.*	$	222,203
7,600	Family Dollar Stores, Inc.		286,444
10,000	GameStop Corp.*		187,900
7,500	H&R Block, Inc.		117,675
6,400	Hasbro, Inc.		263,040
8,600	Johnson Controls, Inc.		231,082
11,300	Leggett & Platt, Inc.		226,678
7,200	Meredith Corp.		224,136
23,900	Newell Rubbermaid, Inc.		349,896
4,585	Omnicom Group, Inc.		157,266
10,100	Staples, Inc.		192,405
5,000	Starwood Hotels & Resorts Worldwide, Inc.		207,150
5,600	The TJX Cos., Inc.		234,920
			2,900,795
*Consumer Staples — 10.0%*
5,900	Avon Products, Inc.		156,350
4,500	Colgate-Palmolive Co.		354,420
17,200	Constellation Brands, Inc.*		268,664
8,300	Dr. Pepper Snapple Group, Inc.		310,337
13,700	Kellogg Co.		689,110
7,500	McCormick & Co., Inc.		284,700
7,600	Procter & Gamble Co.		455,848
17,200	Sysco Corp.		491,404
5,900	The Clorox Co.		366,744


*Shares*		*Value*

*Common Stocks — (Continued)*
*Consumer Staples — (Continued)*
6,700	The Hershey Co.	$	321,131
			3,698,708
*Energy — 12.1%*
6,800	Apache Corp.		572,492
12,269	Baker Hughes, Inc.		510,022
10,600	ConocoPhillips		520,354
11,800	Denbury Resources, Inc.*		172,752
4,700	Devon Energy Corp.		286,324
1,800	Entergy Corp.		128,916
2,400	EOG Resources, Inc.		236,088
3,407	Exxon Mobil Corp.		194,440
2,100	Integrys Energy Group, Inc.		91,854
19,000	Marathon Oil Corp.		590,710
3,300	Occidental Petroleum Corp.		254,595
6,400	Peabody Energy Corp.		250,432
3,900	Range Resources Corp.		156,585
23,700	Rowan Cos., Inc.*		519,978
			4,485,542
*Financials — 10.3%*
10,000	Aflac, Inc.		426,700
11,700	Hudson City Bancorp, Inc.		143,208
19,200	JPMorgan Chase & Co.		702,912
10,500	Lincoln National Corp.		255,045
17,000	Morgan Stanley		394,570
10,000	State Street Corp.		338,200

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

Semi-Annual Shareholder Report


*Huntington Macro 100 Fund*		(Continued)


*Shares*		*Value*		��

*Common Stocks — (Continued)*
*Financials — (Continued)*
4,900	The Allstate Corp.	$	140,777
6,000	Torchmark Corp.		297,060
22,500	U.S. Bancorp		502,875
23,864	Wells Fargo & Co.		610,918
			3,812,265
*Health Care — 10.6%*
8,400	Becton, Dickinson & Co.		568,008
3,400	C.R. Bard, Inc.		263,602
5,300	Genzyme Corp.*		269,081
4,400	Gilead Sciences, Inc.*		150,832
6,800	Johnson & Johnson		401,608
8,600	McKesson Corp.		577,576
7,900	Medtronic, Inc.		286,533
22,500	Mylan Laboratories, Inc.*		383,400
6,200	Patterson Cos., Inc.		176,886
17,750	Pfizer, Inc.		253,115
4,700	Stryker Corp.		235,282
6,300	Zimmer Holdings, Inc.*		340,515
			3,906,438
*Industrials — 10.9%*
4,500	Cummins, Inc.		293,085
3,300	Flowserve Corp.		279,840
6,300	General Dynamics Corp.		368,928
4,800	Illinois Tool Works, Inc.		198,144
3,000	ITT Corp.		134,760
7,500	Jacobs Engineering Group, Inc.*		273,300
3,800	Pall Corp.		130,606
6,500	Parker Hannifin Corp.		360,490
4,825	Republic Services, Inc., Class A		143,447
5,000	Stericycle, Inc.*		327,900
10,400	Union Pacific Corp.		722,904
3,300	United Parcel Service, Inc., Class B		187,737
6,900	United Technologies Corp.		447,879
1,700	W.W. Grainger, Inc.		169,065
			4,038,085
*Materials — 5.1%*
14,400	Ball Corp.		760,752
5,000	Ecolab, Inc.		224,550
7,900	Pactiv Corp.*		220,015
16,000	The Dow Chemical Co.		379,520
16,000	Titanium Metals Corp.*		281,440
			1,866,277
*Real Estate Investment Trusts — 1.7%*
9,800	HCP, Inc.		316,050
22,500	Host Hotels & Resorts, Inc.		303,300
			619,350


*Shares*		*Value*

*Common Stocks — (Continued)*
*Technology — 16.7%*
1,700	Apple, Inc.*	$	427,601
9,900	BMC Software, Inc.*		342,837
50,800	Cisco Systems, Inc.*		1,082,548
6,500	Cognizant Technology Solutions Corp., Class A*		325,390
12,800	eBay, Inc.*		251,008
21,700	EMC Corp.*		397,110
5,400	Fiserv, Inc.*		246,564
875	Google, Inc., Class A*		389,331
4,200	International Business Machines Corp.		518,616
8,800	Intuit, Inc.*		305,976
54,200	Jabil Circuit, Inc.		720,860
25,200	Monster Worldwide, Inc.*		293,580
38,800	Symantec Corp.*		538,544
39,092	Xerox Corp.		314,300
			6,154,265
*Telecommunications — 2.0%*
11,900	CenturyTel, Inc.		396,389
12,800	Verizon Communications, Inc.		358,656
			755,045
*Utilities — 1.7%*
3,800	Consolidated Edison, Inc.		163,780
4,900	Dominion Resources, Inc.		189,826
3,300	Pinnacle West Capital Corp.		119,988
3,600	Progress Energy, Inc.		141,192
			614,786
*Total Common Stocks (Cost $32,473,431)*			*32,851,556*
*Cash Equivalents — 11.1%*
4,072,653	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		4,072,653
*Total Cash Equivalents (Cost $4,072,653)*			*4,072,653*
Total Investments (Cost $36,546,084) — 100.1%			*36,924,209*
*Liabilities in Excess of Other Assets — (0.1)%*			*(19,567)*
*Net Assets — 100.0%*		$	*36,904,642*

(a)

Rate disclosed is the seven day yield as of June 30, 2010.

(b)

Investment in affiliate.

*	Non-income producing security.

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

Semi-Annual Shareholder Report



*Huntington Mid Corp America Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Industrials		18.0%
Technology		15.2%
Consumer Discretionary		12.3%
Health Care		11.7%
Financials		10.8%
Energy		7.3%
Materials		6.7%
Cash¹		4.8%
Utilities		4.4%
Consumer Staples		4.0%
Real Estate Investment Trusts		3.7%
Telecommunications		1.1%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


*Shares*		*Value*

*Common Stocks — 95.5%*
*Consumer Discretionary — 12.3%*
7,120	Advance Auto Parts, Inc.	$	357,282
25,785	Aeropostale, Inc.*		738,482
15,900	Best Buy Co., Inc.		538,374
25,340	Bob Evans Farms, Inc.		623,871
32,400	BorgWarner, Inc.*		1,209,816
30,934	Fidelity National Title Group, Inc., Class A		401,833
28,900	GameStop Corp.*		543,031
20,670	Guess?, Inc.		645,731
19,200	Hanover Insurance Group, Inc.		835,200
21,370	Harman International Industries, Inc.*		638,749
36,450	Hewitt Associates, Inc., Class A*		1,256,067
30,300	J. Crew Group, Inc.*		1,115,343
20,800	Kohl’s Corp.*		988,000
40,000	Nordstrom, Inc.		1,287,600
24,650	PetSmart, Inc.		743,690
6,710	Polo Ralph Lauren Corp.		489,562
15,540	Ross Stores, Inc.		828,126
37,200	Royal Caribbean Cruises Ltd.*		847,044
10,000	UniFirst Corp.		440,200
15,760	V.F. Corp.		1,121,797
4,100	Whirlpool Corp.		360,062
8,000	Wolverine World Wide, Inc.		201,760
			16,211,620
*Consumer Staples — 4.0%*
32,000	Church & Dwight Co., Inc.		2,006,720


*Shares*		*Value*

*Common Stocks — (Continued)*
*Consumer Staples — (Continued)*
25,950	Constellation Brands, Inc.*	$	405,339
28,900	Dr. Pepper Snapple Group, Inc.		1,080,571
19,470	NBTY, Inc.*		662,175
20,700	Ralcorp Holding, Inc.*		1,134,360
			5,289,165
*Energy — 7.3%*
16,100	Baker Hughes, Inc.		669,277
46,700	Chesapeake Energy Corp.		978,365
11,300	Forest Oil Corp.*		309,168
29,200	Helmerich & Payne, Inc.		1,066,384
28,160	Murphy Oil Corp.		1,395,328
27,900	National Fuel Gas Co.		1,280,052
35,500	Noble Energy, Inc.		2,141,715
66,200	Spectra Energy Corp.		1,328,634
11,250	Unit Corp.*		456,637
			9,625,560
*Financials — 10.8%*
10,000	Allied World Assurance Co. Holdings Ltd.		453,800
21,200	BancorpSouth, Inc.		379,056
38,800	Cincinnati Financial Corp.		1,003,756
26,900	City National Corp.		1,378,087
34,430	CoreLogic, Inc.		608,034
4,310	Everest Re Group Ltd.		304,803
34,430	First American Financial Corp.		436,572

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

Semi-Annual Shareholder Report


*Huntington Mid Corp America Fund*		(Continued)


*Shares*		*Value*

*Common Stocks — (Continued)*
*Financials — (Continued)*
17,248	FirstMerit Corp.	$	295,458
9,730	HCC Insurance Holdings, Inc.		240,915
53,800	Hudson City Bancorp, Inc.		658,512
21,800	Invesco Ltd.		366,894
9,800	Jones Lang LaSalle, Inc.		643,272
20,000	Legg Mason, Inc.		560,600
28,870	Lincoln National Corp.		701,252
62,250	Old Republic International Corp.		755,093
45,400	Principal Financial Group		1,064,176
21,800	Prosperity Bancshares, Inc.		757,550
22,240	T. Rowe Price Group, Inc.		987,234
30,590	Torchmark Corp.		1,514,511
27,390	Trustmark Corp.		570,260
16,070	Unum Group		348,719
21,000	Wilmington Trust Corp.		232,890
			14,261,444
*Health Care — 11.8%*
60,000	AmerisourceBergen Corp.		1,905,000
12,430	Biogen Idec, Inc.*		589,803
13,840	Cephalon, Inc.*		785,420
18,775	Coventry Health Care, Inc.*		331,942
49,600	Life Technologies Corp.*		2,343,600
44,700	Lincare Holdings, Inc.*		1,453,197
33,300	Owens & Minor, Inc.		945,054
38,300	PDL BioPharma, Inc.		215,246
16,000	Quest Diagnostics, Inc.		796,320
32,490	St. Jude Medical, Inc.*		1,172,564
68,156	Thermo Fisher Scientific, Inc.*		3,343,052
38,830	Watson Pharmaceutical, Inc.*		1,575,333
			15,456,531
*Industrials — 18.1%*
10,200	Alliant Techsystems, Inc.*		633,012
30,200	CNH Global NV NYS*		684,030
47,200	Cooper Industries PLC		2,076,800
24,400	Cummins, Inc.		1,589,172
16,000	Elbit Systems Ltd.		804,000
22,900	EMCOR Group, Inc.*		530,593
3,000	G&K Services, Inc., Class A		61,950
28,700	General Cable Corp.*		764,855
26,690	ITT Corp.		1,198,915
53,400	John Bean Technologies Corp.		814,350
54,000	Kennametal, Inc.		1,373,220
39,000	L-3 Communications Holdings, Inc.		2,762,760
15,700	Ladish Co., Inc.*		356,704
19,500	Mohawk Industries, Inc.*		892,320
25,800	Pall Corp.		886,746
23,400	Parker Hannifin Corp.		1,297,764
15,100	Precision Castparts Corp.		1,554,092
20,000	Quanex Building Products Corp.		345,800
7,000	R.R. Donnelley & Sons Co.		114,590
15,200	Rayonier, Inc.		669,104
3,000	Rockwell International Corp.		147,270
21,000	Ryder System, Inc.		844,830
16,070	Stanley Black & Decker Inc.		811,856
21,500	Teleflex, Inc.		1,167,020


*Shares*		*Value*

*Common Stocks — (Continued)*
*Industrials — (Continued)*
30,500	Thomas & Betts Corp.*	$	1,058,350
25,200	Weatherford International Ltd.*		331,128
			23,771,231
*Materials — 6.7%*
16,800	Albemarle Corp.		667,128
18,100	AptarGroup, Inc.		684,542
6,000	Ball Corp.		316,980
29,300	Cytec Industries, Inc.		1,171,707
27,000	FMC Corp.		1,550,610
14,000	Innophos Holdings, Inc.		365,120
27,200	Intrepid Potash, Inc.*		532,304
18,800	Lubrizol Corp.		1,509,828
3,000	Minerals Technologies, Inc.		142,620
18,300	Pactiv Corp.*		509,655
12,280	PPG Industries, Inc.		741,835
20,900	RPM International, Inc.		372,856
6,000	Schnitzer Steel Industries, Inc.		235,200
			8,800,385
*Real Estate Investment Trusts — 3.7%*
10,000	Alexandria Real Estate Equities, Inc.		633,700
9,300	Federal Realty Investment Trust		653,511
12,200	Home Properties, Inc.		549,854
28,334	Host Hotels & Resorts, Inc.		381,942
12,210	Liberty Property Trust		352,259
13,360	Mid-America Apartment Communities, Inc.		687,639
16,690	PS Business Parks, Inc.		930,968
18,260	Sovran Self Storage, Inc.		628,692
			4,818,565
*Technology — 15.3%*
225,066	Activision Blizzard, Inc.		2,360,942
11,000	Amdocs Ltd.*		295,350
48,000	Arris Group, Inc.*		489,120
22,135	Benchmark Electronics, Inc.*		350,840
19,170	BMC Software, Inc.*		663,857
24,200	Broadcom Corp., Class A		797,874
21,700	Citrix Systems, Inc.*		916,391
53,400	CTS Corp.		493,416
8,000	Cymer, Inc.*		240,320
15,570	Electronic Arts, Inc.*		224,208
32,866	Fidelity National Information Services, Inc.		881,466
14,100	Fiserv, Inc.*		643,806
28,430	FLIR Systems, Inc.*		827,029
40,000	Forrester Research, Inc.*		1,210,400
33,000	Harris Corp.		1,374,450
58,410	infoGROUP, Inc.*		466,112
51,000	Integrated Device Technology, Inc.*		252,450
12,000	Intersil Corp., Class A		145,320
29,000	JDA Software Group, Inc.*		637,420
11,000	Molex, Inc.		200,640
15,300	Multi-Fineline Electronix, Inc.*		381,888
30,800	NCR Corp.*		373,296
49,600	NVIDIA Corp.*		506,416

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

Semi-Annual Shareholder Report


*Huntington Mid Corp America Fund*		(Continued)


*Shares*		*Value*

*Common Stocks — (Continued)*
*Technology — (Continued)*
112,100	ON Semiconductor Corp.*	$	715,198
23,700	Parametric Technology Corp.*		371,379
17,200	Progress Software Corp.*		516,516
31,600	Synopsys, Inc.*		659,492
20,600	Syntel, Inc.		699,370
50,280	Teradata Corp.*		1,532,534
29,250	Varian Semiconductor Equipment Associates, Inc.*		838,305
			20,065,805
*Telecommunications — 1.1%*
53,697	Aviat Networks, Inc.*		194,920
26,570	CenturyTel, Inc.		885,047
9,000	Telus Corp.		325,800
			1,405,767
*Utilities — 4.4%*
12,000	AGL Resources, Inc.		429,840
15,500	Atmos Energy Corp.		419,120
8,000	Constellation Energy Group, Inc.		258,000
60,750	MDU Resources Group, Inc.		1,095,323
14,250	New Jersey Resources Corp.		501,600
63,000	Questar Corp.		2,865,870
12,640	Xcel Energy, Inc.		260,511
			5,830,264
*Total Common Stocks (Cost $91,298,245)*			*125,536,337*


*Shares*		*Value*

*Cash Equivalents — 4.8%*
6,360,313	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)	$	6,360,313
*Total Cash Equivalents (Cost $6,360,313)*			*6,360,313*
Total Investments (Cost $97,658,558) — 100.3%			*131,896,650*
*Liabilities in Excess of Other Assets — (0.3)%*			*(386,982)*
*Net Assets — 100.0%*		$	*131,509,668*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2010.

*	Non-income producing security.

NYS — New York Shares

PLC — Public Liability Co.

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

Semi-Annual Shareholder Report



*Huntington New Economy Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Technology		17.3%
Consumer Discretionary		15.9%
Health Care		15.2%
Energy		11.9%
Industrials		10.6%
Financials		7.5%
Materials		6.8%
Cash¹		6.3%
Consumer Staples		3.7%
Utilities		1.4%
Real Estate Investment Trusts		1.2%
Telecommunications		1.1%
Transportation		1.1%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


*Shares*		*Value*

*Common Stocks — 95.6%*
*Consumer Discretionary — 16.2%*
6,900	Advance Auto Parts, Inc. (a)	$	346,242
28,180	Aeropostale, Inc.*		807,075
12,500	Bally Technologies, Inc.*		404,875
7,000	Coinstar, Inc.*		300,790
5,500	DG FastChannel, Inc.*		179,190
9,600	DreamWorks Animation SKG, Inc., Class A*		274,080
10,200	Fossil, Inc.*		353,940
9,300	Helen of Troy Ltd.*		205,158
14,900	Iconix Brand Group, Inc.*		214,113
14,500	Las Vegas Sands Corp.*		321,030
16,300	Limited Brands, Inc.		359,741
18,820	Lululemon Athletica, Inc.(a)*		700,480
5,900	Netflix, Inc.*		641,035
10,750	O’Reilly Automative, Inc.(a)*		511,270
6,500	Phillips-Van Heusen Corp.		300,755
6,400	Skechers USA, Inc.*		233,728
12,770	The Buckle, Inc.		414,003
27,280	True Religion Apparel, Inc.(a)*		602,070
19,400	United Rentals, Inc.*		180,808
6,600	Wynn Resorts Ltd. (a)		503,382
13,000	Zumiez, Inc.*		209,430
			8,063,195
*Consumer Staples — 3.7%*
8,300	Diamond Foods, Inc.		341,130


*Shares*		*Value*

*Common Stocks — (Continued)*
*Consumer Staples — (Continued)*
5,300	Energizer Holdings, Inc.*	$	266,484
19,800	Green Mountain Coffee Roasters, Inc.*		508,860
18,800	Hansen Natural Corp.*		735,268
			1,851,742
*Energy — 12.1%*
12,900	Alpha Natural Resources, Inc.*		436,923
7,700	Baker Hughes, Inc.		320,089
4,400	Cimarex Energy Co.		314,952
20,700	Comstock Resources, Inc.*		573,804
11,800	Forest Oil Corp.(a)*		322,848
33,800	Helix Energy Solutions Group, Inc.*		364,026
16,200	Helmerich & Payne, Inc. (a)		591,624
13,000	Lufkin Industries, Inc.		506,870
5,300	Oil States International, Inc.*		209,774
42,300	Patterson-Uti Energy, Inc. (a)		544,401
11,400	Petroleo Brasileiro SA ADR		391,248
15,700	Plains Exploration & Production Co.*		323,577
18,900	Quicksilver Resources, Inc.*		207,900
10,500	Range Resources Corp.		421,575
14,300	Superior Energy Services, Inc.*		266,981
5,200	Unit Corp.(a)*		211,068
			6,007,660
*Financials — 7.7%*
35,800	AmeriCredit Corp.*		652,276

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

Semi-Annual Shareholder Report


*Huntington New Economy Fund*		(Continued)


*Shares*		*Value*

*Common Stocks — (Continued)*
*Financials — (Continued)*
6,000	Ameriprise Financial, Inc.	$	216,780
15,700	Eaton Vance Corp.		433,477
5,880	Everest Re Group Ltd.		415,834
44,700	New York Community Bancorp, Inc.		682,569
13,000	Protective Life Corp.		278,070
8,300	SVB Financial Group*		342,209
168,800	Synovus Financial Corp.		428,752
6,900	Westamerica Bancorp		362,388
			3,812,355
*Health Care — 15.4%*
27,500	AmerisourceBergen Corp.		873,125
7,900	Beckman Coulter, Inc.		476,291
28,900	Cepheid, Inc.*		462,978
6,900	HeartWare International, Inc.*		483,483
13,800	Illumina, Inc.*		600,714
1,400	Intuitive Surgical, Inc.(a)*		441,868
10,440	Life Technologies Corp.*		493,290
30,000	NxStage Medical, Inc.*		445,200
9,100	ResMed, Inc.*		553,371
12,000	Thoratec Corp.*		512,760
29,600	United Therapeutics Corp.*		1,444,776
26,600	Vertex Pharmaceuticals, Inc.*		875,140
			7,662,996
*Industrials — 10.9%*
12,800	Bucyrus International, Inc. (a)		607,360
7,900	Crane Co.		238,659
15,800	Curtiss-Wright Corp.		458,832
5,200	Flowserve Corp.		440,960
16,300	Foster Wheeler AG*		343,278
9,900	Gardner Denver, Inc.		441,441
27,100	Insituform Technologies, Inc., Class A*		555,008
23,200	KBR, Inc.		471,888
7,400	Polaris Industries, Inc.		404,188
15,400	Robbins & Myers, Inc.		334,796
9,900	Rockwell International Corp.		485,991
10,400	Terex Corp.*		194,896
11,900	The Shaw Group, Inc.*		407,218
			5,384,515
*Materials — 6.9%*
5,000	Ashland, Inc. (a)		232,100
8,300	Barrick Gold Corp.		376,903
7,300	CF Industries Holdings, Inc.		463,185
6,700	Cytec Industries, Inc. (a)		267,933
6,500	Freeport-McMoran Copper & Gold, Inc., Class B		384,345
2,900	Lubrizol Corp. (a)		232,899
4,800	NewMarket Corp. (a)		419,136
11,500	Pride International, Inc.(a)*		256,910
38,900	Steel Dynamics, Inc.		513,091
4,500	Walter Energy, Inc.		273,825
			3,420,327


*Shares*		*Value*

*Common Stocks — (Continued)*
*Real Estate Investment Trusts — 1.2%*
4,500	SL Green Realty Corp.	$	247,680
9,400	The Macerich Co.		350,808
			598,488
*Technology — 17.7%*
11,900	Adobe Systems, Inc.*		314,517
14,900	Cognex Corp.		261,942
13,960	Cree, Inc.(a)*		838,019
12,700	F5 Networks, Inc.(a)*		870,839
5,800	FactSet Research Systems, Inc. (a)		388,542
9,400	Fiserv, Inc.*		429,204
66,000	Integrated Device Technology, Inc.*		326,700
13,900	Lam Research Corp.*		529,034
25,000	Marvell Technology Group Ltd.*		394,000
16,700	National Instruments Corp.		530,726
12,900	Quality Systems, Inc.		748,071
22,100	Rovi Corp.*		837,811
5,800	Salesforce.com, Inc.(a)*		497,756
9,370	SanDisk Corp.(a)*		394,196
5,800	Veeco Instruments, Inc.(a)*		198,824
8,000	VMware, Inc., Class A(a)*		500,720
30,700	Volterra Semiconductor Corp.*		707,942
			8,768,843
*Telecommunications — 1.2%*
78,300	ADC Telecommunications, Inc.*		580,203
*Transportation — 1.1%*
26,300	Knight Transportation, Inc.		532,312
*Utilities — 1.5%*
7,500	Alliant Energy Corp.		238,050
7,400	IDACORP, Inc.		246,198
6,600	OGE Energy Corp.		241,296
			725,544
*Total Common Stocks (Cost $49,285,229)*			*47,408,180*
*Cash Equivalents — 6.4%*
3,179,379	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)		3,179,379
*Total Cash Equivalents (Cost $3,179,379)*			*3,179,379*
Total Investments (Cost $52,464,608) — 102.0%			*50,587,559*
*Liabilities in Excess of Other Assets — (2.0)%*			*(977,956)*
*Net Assets — 100.0%*		$	*49,609,603*

(a)

All or a portion of the security is held as collateral for options.

(b)

Rate disclosed is the seven day yield as of June 30, 2010.

(c)

Investment in affiliate.

*	Non-income producing security.

ADR — American Depositary Receipt

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

Semi-Annual Shareholder Report



*Huntington Real Strategies Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Energy		33.1%
Materials		22.6%
Industrials		13.8%
Cash¹		8.8%
Mutual Funds		8.7%
Real Estate Investment Trusts		7.4%
Consumer Staples		3.4%
Utilities		1.1%
Financials		1.1%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


*Shares*		*Value*

*Common Stocks — 83.5%*
*Consumer Staples — 3.5%*
152,100	Cosan Ltd., Class A*	$	1,420,614
70,000	Tyson Foods, Inc., Class A		1,147,300
			2,567,914
*Energy — 33.9%*
44,300	Arch Coal, Inc.		877,583
32,000	Canadian Natural Resources Ltd.		1,063,360
49,800	Chesapeake Energy Corp.		1,043,310
78,200	El Paso Corp.		868,802
40,000	El Paso Pipeline Partners LP		1,146,800
33,400	EnCana Corp.		1,013,356
28,700	Enterprise Products Partners LP		1,015,119
27,256	Exxon Mobil Corp.		1,555,518
25,000	Frontier Oil Corp.		336,250
52,800	Hugoton Royalty Trust		1,002,144
43,500	Linn Energy LLC		1,154,925
36,600	Marathon Oil Corp.		1,137,894
25,800	National Oilwell Varco, Inc.		853,206
50,000	Natural Resource Partners LP		1,182,000
27,600	Newfield Exploration Co.*		1,348,536
28,000	Noble Corp.		865,480
22,700	Peabody Energy Corp.		888,251
30,100	Petroleo Brasileiro SA ADR		1,033,032
37,600	Rowan Cos., Inc.*		824,944
18,500	Sasol Ltd. ADR		652,495
20,000	Smith International, Inc.		753,000
64,900	Spectra Energy Corp.		1,302,543
40,646	StatoilHydro ASA ADR		778,371
60,000	Tesoro Corp.		700,200
19,198	Transocean Ltd.*		889,443


*Shares*		*Value*

*Common Stocks — (Continued)*
*Energy — (Continued)*
41,000	Valero Energy Corp.	$	737,180
			25,023,742
*Industrials — 14.2%*
45,100	AGCO Corp.*		1,216,347
17,200	Bucyrus International, Inc.		816,140
27,000	Deere & Co.		1,503,360
12,000	Fluor Corp.		510,000
44,500	Foster Wheeler AG*		937,170
39,000	Harsco Corp.		916,500
40,000	KOMATSU Ltd. ADR		724,400
97,900	Manitowoc Co.		894,806
7,500	POSCO ADR		707,400
32,800	Rayonier, Inc.		1,443,856
35,000	Robbins & Myers, Inc.		760,900
			10,430,879
*Materials — 23.2%*
15,670	Agrium, Inc.		766,890
14,800	BHP Billiton Ltd. ADR		917,452
48,100	Cameco Corp.		1,023,568
2,500	CF Industries Holdings, Inc.		158,625
13,000	FMC Corp.		746,590
13,450	Monsanto Co.		621,659
10,000	Nucor Corp.		382,800
98,000	Olin Corp.		1,772,820
10,020	Potash Corp. of Saskatchewan, Inc.		864,125
13,800	Praxair, Inc.		1,048,662
47,000	Rio Tinto PLC ADR		2,049,200
33,400	Sociedad Quimica y Minera de Chile SA ADR		1,089,174

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

Semi-Annual Shareholder Report


*Huntington Real Strategies Fund*		(Continued)


*Shares*		*Value*

*Common Stocks — (Continued)*
*Materials — (Continued)*
20,200	Tenaris SA ADR	$	699,122
4,000	Terra Nitrogen Co., LP		272,440
19,500	The Mosaic Co.		760,110
350,000	Uranium Energy Corp.*		826,000
255,400	USEC, Inc.*		1,215,704
41,300	Vale SA ADR		1,005,655
32,000	Yara International ASA ADR		896,319
			17,116,915
*Real Estate Investment Trusts — 7.6%*
9,081	Avalonbay Communities, Inc.		847,893
17,900	Boston Properties, Inc.		1,276,986
80,000	Duke Realty Corp.		908,000
39,300	Plum Creek Timber Co., Inc.		1,357,029
16,806	Vornado Realty Trust		1,225,998
			5,615,906
*Utilities — 1.1%*
18,500	Questar Corp.		841,565
*Total Common Stocks (Cost $77,637,070)*			*61,596,921*
*Corporate Bonds — 1.1%*
*Financials — 1.1%*
750,000	Credit Suisse Securities (USA) LLC, 0.00%, 3/26/13 (a) (b)		792,600
*Total Corporate Bonds (Cost $750,000)*			*792,600*
*Mutual Funds — 8.9%*
*Exchange Traded Funds — 4.9%*
12,000	Oil Service HOLDRs Trust		1,135,680
50,000	PowerShares DB Agriculture Fund		1,199,500
36,000	UltraShort 20+ Year Treasury ProShares		1,277,280
			3,612,460
*Exchange Traded Notes — 1.6%*
40,000	iPath Dow Jones-AIG Livestock Total Return Sub-Index*		1,157,600
*Investment Company — 2.4%*
119,800	Central Fund of Canada Ltd., Class A		1,805,386
*Total Mutual Funds (Cost $8,653,643)*			*6,575,446*


*Shares*		*Value*

*Options Purchased — 0.10%*
100	SPDR S&P 500 Put @ 111, Expiring July 2010	$	81,550
*Total Options Purchased (Cost $29,960)*			*81,550*
*Cash Equivalents — 8.9%*
6,549,842	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (c) (d)		6,549,842
*Total Cash Equivalents (Cost $6,549,842)*			*6,549,842*
Total Investments (Cost $93,620,515) — 102.5%			*75,596,359*
*Liabilities in Excess of Other Assets — (2.5)%*			*(1,855,888)*
*Net Assets — 100.0%*		$	*73,740,471*

(a)

All or a portion of the security is held as collateral for options.

(b)

Zero-Coupon Security.

(c)

Rate disclosed is the seven day yield as of June 30, 2010.

(d)

Investment in affiliate.

*	Non-income producing security.

ADR — American Depositary Receipt

LLC — Limited Liability Co.

LP — Limited Partnership

PLC — Public Liability Co.

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

Semi-Annual Shareholder Report



*Huntington Rotating Markets Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Exchange Traded Funds		92.3%
Cash¹		7.7%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


*Shares*		*Value*

*Mutual Funds — 92.2%*
*Exchange Traded Funds — 92.2%*
20,000	iShares Cohen & Steers Realty Majors Index Fund	$	1,098,200
20,000	iShares Dow Jones U.S. Transportation Average Index Fund		1,447,200
51,850	iShares EAFE Index Fund		2,411,544
64,700	iShares MSCI Emerging Markets Index Fund		2,414,604
83,400	iShares MSCI EMU Index Fund		2,381,070
125,300	PowerShares QQQ		5,351,563
142,150	Rydex S&P Equal Weight Index Fund		5,373,270
96,520	S&P Depositary Receipt		9,962,794
52,400	SPDR KBW Insurance		1,847,624
*Total Mutual Funds (Cost $34,705,541)*			*32,287,869*


*Shares*		*Value*

*Cash Equivalents — 7.7%*
2,685,611	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)	$	2,685,611
*Total Cash Equivalents (Cost $2,685,611)*			*2,685,611*
Total Investments (Cost $37,391,152) — 99.9%			*34,973,480*
*Other Assets in Excess of Liabilities — 0.1%*			*48,448*
*Net Assets — 100.0%*		$	*35,021,928*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2010.

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

Semi-Annual Shareholder Report



*Huntington Situs Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Industrials		15.7%
Health Care		14.2%
Technology		12.2%
Consumer Discretionary		12.0%
Energy		10.1%
Materials		8.3%
Financials		8.2%
Cash¹		6.2%
Consumer Staples		5.8%
Utilities		2.6%
Telecommunications		2.0%
Real Estate Investment Trust		1.8%
Mutual Funds		0.9%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


*Shares*		*Value*

*Common Stocks — 92.9%*
*Bermuda — 1.4%*
*Financials — 1.4%*
30,000	Arch Capital Group Ltd.*	$	2,235,000
*Brazil — 1.1%*
*Consumer Discretionary — 1.1%*
26,100	Companhia Brasileira de Distribuicao Grupo Pao de Acucar ADR		1,814,472
*Cayman Islands — 1.4%*
*Consumer Discretionary — 0.4%*
17,500	Shanda Interactive Entertainment Ltd. ADR*		694,225
*Consumer Staples — 1.0%*
80,000	Fresh Del Monte Produce, Inc.*		1,619,200
			2,313,425
*Chile — 0.5%*
*Materials — 0.5%*
24,000	Sociedad Quimica y Minera de Chile SA ADR		782,640
*Denmark — 1.2%*
*Energy — 0.5%*
18,900	Vestas Wind Systems A/S*		785,756


*Shares*		*Value*

*Common Stocks — (Continued)*
*Denmark — (Continued)*
*Health Care — 0.7%*
10,500	Novozymes A/S, Class B	$	1,114,617
			1,900,373
*Germany — 0.8%*
*Health Care — 0.8%*
41,800	Stada Arzneimittel AG		1,384,696
*Hong Kong — 0.6%*
*Consumer Discretionary — 0.6%*
228,500	Television Broadcasts Ltd.		1,059,034
*Japan — 2.1%*
*Consumer Discretionary — 0.6%*
38,100	Honda Motor Co. Ltd. ADR (a)		1,095,375
*Consumer Staples — 0.7%*
51,300	Shiseido Co. Ltd.		1,128,577
*Financials — 0.2%*
70	Japan Prime Realty Investment Corp.		147,124
20	Japan Real Estate Investment Corp.		163,139
			310,263

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

Semi-Annual Shareholder Report


*Huntington Situs Fund*		(Continued)


*Shares*		*Value*

*Common Stocks — (Continued)*
*Japan — (Continued)*
*Health Care — 0.6%*
20,600	Terumo Corp.	$	985,989
			3,520,204
*Mexico — 0.5%*
*Consumer Discretionary — 0.5%*
35,000	Desarrolladora Homex S.A.B de C.V. ADR*		883,400
*Singapore — 0.6%*
*Consumer Staples — 0.6%*
94,000	Asia Pacific Breweries Ltd.		960,829
*South Africa — 0.4%*
*Materials — 0.4%*
35,000	Denison Mines Corp.*		41,650
50,000	Harmony Gold Mining Co. Ltd. ADR		528,500
			570,150
*Sweden — 0.8%*
*Consumer Discretionary — 0.8%*
153,800	Haldex AB*		1,307,199
*Switzerland — 0.5%*
*Consumer Discretionary — 0.5%*
30,000	Garmin Ltd.		875,400
*United Kingdom — 0.6%*
*Consumer Staples — 0.6%*
20,000	Reckitt Benckiser Group PLC		925,007
*United States — 80.4%*
*Consumer Discretionary — 7.3%*
100,000	Cabela’s, Inc., Class A*		1,414,000
13,500	Columbia Sportswear Co.		630,045
50	Fossil, Inc.*		1,735
50,000	Jakks Pacific, Inc.*		719,000
5,000	Polo Ralph Lauren Corp.		364,800
120,000	Quanta Services, Inc.*		2,478,000
23,850	Rent-A-Center, Inc.*		483,201
35,000	ScanSource, Inc.*		872,550
140,000	Southwest Airlines Co.		1,555,400
10,000	Sturm, Ruger & Co., Inc.		143,300
97,000	Urban Outfitters, Inc.*		3,335,830
			11,997,861
*Consumer Staples — 3.0%*
100,000	Owens-Illinois, Inc.*		2,645,000
10,000	Papa John’s International, Inc.*		231,200
270,000	Sonic Corp.*		2,092,500
			4,968,700
*Energy — 9.6%*
50,000	Alliance Resource Partners LP		2,248,500
70,000	American Oil & Gas, Inc.*		439,600
20,000	Atwood Oceanics, Inc.*		510,400


*Shares*		*Value*

*Common Stocks — (Continued)*
*United States — (Continued)*
*Energy — (Continued)*
45,000	Carbo Ceramics, Inc.	$	3,248,550
130,400	Denbury Resources, Inc.*		1,909,056
10,000	Dril-Quip, Inc.*		440,200
60,000	Lufkin Industries, Inc.		2,339,400
40,000	Newfield Exploration Co.*		1,954,400
17,300	Oceaneering International, Inc.*		776,770
30,000	SM Energy Co.		1,204,800
28,000	Swift Energy Co.*		753,480
			15,825,156
*Financials — 6.6%*
204	BB&T Corp.		5,367
52,300	Cullen/Frost Bankers, Inc.		2,688,220
110,000	International Bancshares Corp.		1,835,900
150,000	Raymond James Financial, Inc.		3,703,500
61,383	SCBT Financial Corp.		2,161,910
13,800	WSFS Financial Corp.		495,834
			10,890,731
*Health Care — 12.1%*
150,000	Albany Molecular Research*		775,500
15,000	Bio-Rad Laboratories, Inc., Class A*		1,297,350
50,000	Cerner Corp.*		3,794,500
70,000	Edwards LifeSciences Corp.*		3,921,400
40,000	Kindred Healthcare, Inc.*		513,600
86,000	Kinetic Concepts, Inc.*		3,139,860
90,000	Lincare Holdings, Inc.*		2,925,900
75,000	Osiris Therapeutics, Inc.*		435,750
75,000	Watson Pharmaceutical, Inc.*		3,042,750
			19,846,610
*Industrials — 15.7%*
20,000	Alliant Techsystems, Inc.*		1,241,200
20,000	American Woodmark Corp.		342,000
50,000	BE Aerospace, Inc.*		1,271,500
120,000	EnPro Industries, Inc.*		3,378,000
50,000	Exlservice Holdings, Inc.*		858,500
30,000	Flowserve Corp.		2,544,000
100,000	Harsco Corp.		2,350,000
52,000	Jacobs Engineering Group, Inc.(a)*		1,894,880
110,000	Quaker Chemical Corp.		2,979,900
40,000	Ryder System, Inc.		1,609,200
180,000	Trinity Industries, Inc.		3,189,600
50,000	Universal Forest Products, Inc.		1,515,500
90,000	Watts Water Technologies, Inc., Class A		2,579,400
3,750	Werner Enterprises, Inc.		82,087
			25,835,767
*Materials — 7.5%*
41	CF Industries Holdings, Inc.		2,601
50,400	Eagle Materials, Inc.		1,306,872
35,000	Eastman Chemical Co.		1,867,600
40,000	RTI International Metals, Inc.*		964,400
70,000	Texas Industries, Inc.		2,067,800

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

Semi-Annual Shareholder Report


*Huntington Situs Fund*		(Continued)


*Shares*		*Value*

*Common Stocks — (Continued)*
*United States — (Continued)*
*Materials — (Continued)*
20,000	The Scotts Co.	$	888,200
120,000	Trimble Navigation Ltd.*		3,360,000
50,000	United States Lime & Minerals, Inc.*		1,926,000
			12,383,473
*Real Estate Investment Trusts — 1.8%*
31,500	Camden Property Trust		1,286,775
90,000	Equity One, Inc.		1,404,000
10,000	Weingarten Realty Investors		190,500
			2,881,275
*Technology — 12.2%*
52,900	ACI Worldwide, Inc.*		1,029,963
30,000	American Superconductor Corp.*		800,700
75,000	Anixter International, Inc.*		3,195,000
40,000	Diodes, Inc.*		634,800
250,000	Jabil Circuit, Inc.		3,325,000
80,600	Methode Electronics, Inc.		785,044
60,000	OYO Geospace Corp.*		2,908,800
125,000	Red Hat, Inc.*		3,617,500
200,000	Sigma Designs, Inc.*		2,002,000
70,900	Standard Microsystems Corp.*		1,650,552
50,000	Taser International, Inc.*		195,000
			20,144,359
*Telecommunications — 2.0%*
125,900	CommScope, Inc.*		2,992,643
39,000	General Communication, Inc., Class A*		296,010
			3,288,653


*Shares*		*Value*

*Common Stocks — (Continued)*
*United States — (Continued)*
*Utilities — 2.6%*
10,000	AGL Resources, Inc.	$	358,200
39,900	Hawaiian Electric Industries, Inc.		908,922
13,100	Northwest Natural Gas Co.		570,767
50,000	Portland General Electric Co.		916,500
58,500	UGI Corp. (a)		1,488,240
			4,242,629
			132,305,214
*Total Common Stocks (Cost $139,151,336)*			*152,837,043*
*Mutual Funds — 0.9%*
*Exchange Traded Funds — 0.6%*
25,000	iShares FTSE/Xinhua China 25 Index Fund		978,250
*Investment Companies — 0.3%*
30,000	Central Fund of Canada Ltd., Class A		452,100
*Total Mutual Funds (Cost $1,042,866)*			*1,430,350*
*Cash Equivalents — 6.2%*
10,265,167	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)		10,265,167
*Total Cash Equivalents (Cost $10,265,167)*			*10,265,167*
Total Investments (Cost $150,459,369) — 100.0%			*164,532,560*
*Liabilities in Excess of Other Assets — 0.0%*			*(61,063)*
*Net Assets — 100.0%*		$	*164,471,497*

(a)

All or a portion of the security is held as collateral for options.

(b)

Investment in affiliate.

(c)

Rate disclosed is the seven day yield as of June 30, 2010.

*	Non-income producing security.

ADR — American Depositary Receipt

LP — Limited Partnership

PLC — Public Liability Co.

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

Semi-Annual Shareholder Report



*Huntington Technical Opportunities Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Exchange Traded Funds		76.7%
Materials		19.0%
Cash¹		2.7%
Consumer Discretionary		1.6%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


*Shares*		*Value*

*Common Stocks — 20.6%*
*Consumer Discretionary — 1.6%*
4,120	Discovery Communications, Inc., Class A*	$	147,125
*Materials — 19.0%*
18,345	Eldorado Gold Corp.		329,476
12,450	Goldcorp, Inc.		545,933
9,350	Randgold Resources Ltd. ADR		885,912
			1,761,321
*Total Common Stocks (Cost $1,774,208)*			*1,908,446*
*Mutual Funds — 76.6%*
*Exchange Traded Funds — 76.6%*
4,700	iShares Cohen & Steers Realty Majors Index Fund		258,077
3,100	iShares Dow Jones U.S. Transportation Average Index Fund		224,316
15,000	iShares EAFE Index Fund		697,650
29,300	iShares MSCI Emerging Markets Index Fund		1,093,477
18,200	iShares MSCI EMU Index Fund		519,610
28,350	iShares Russell 3000 Growth Index Fund		1,060,573
8,335	iShares S&P North American Technology-Multimedia Networking Index Fund		205,208


*Shares*		*Value*

*Mutual Funds — (Continued)*
*Exchange Traded Funds — (Continued)*
2,885	iShares S&P North American Technology-Software Index Fund	$	124,142
19,520	PowerShares QQQ		833,699
27,880	Rydex S&P Equal Weight Index Fund		1,053,864
8,907	S&P Depositary Receipt		919,381
3,000	SPDR KBW Insurance		105,780
*Total Mutual Funds (Cost $7,712,936)*			*7,095,777*
*Cash Equivalents — 2.7%*
248,999	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		248,999
*Total Cash Equivalents (Cost $248,999)*			*248,999*
Total Investments (Cost $9,736,143) — 99.9%			*9,253,222*
*Other Assets in Excess of Liabilities — 0.1%*			*9,115*
*Net Assets — 100.0%*		$	*9,262,337*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2010.

*	Non-income producing security.

ADR — American Depositary Receipt

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

Semi-Annual Shareholder Report



*Huntington Fixed Income Securities Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Corporate Bonds		52.0%
U.S. Government Agencies		27.8%
U.S. Treasury Obligations		14.4%
Cash¹		2.8%
U.S. Government Mortgage Backed Agencies		2.7%
Preferred Stocks		0.3%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


Principal Amount			*Value*

	*Corporate Bonds — 52.0%*
	*Consumer Discretionary — 2.7%*
$	2,000,000	The Home Depot, Inc., 4.625%, 8/15/10	$	2,007,838
	1,500,000	The Walt Disney Co., Series B, MTN, 6.200%, 6/20/14		1,741,128
	1,000,000	The Walt Disney Co., Series D, 4.500%, 12/15/13		1,101,362
	2,000,000	Wal-Mart Stores, Inc., 6.200%, 4/15/38		2,341,270
				7,191,598
	*Consumer Staples — 3.5%*
	1,498,000	ConAgra Foods, Inc., 6.750%, 9/15/11		1,591,788
	3,000,000	Kellogg Co., 4.250%, 3/6/13		3,215,286
	2,000,000	Kraft Foods, Inc., 6.000%, 2/11/13		2,204,912
	2,000,000	The Kroger Co., 7.500%, 1/15/14		2,337,328
				9,349,314
	*Energy — 5.5%*
	1,840,000	Enterprise Products Operating LP, 7.500%, 2/1/11		1,895,410
	2,000,000	Enterprise Products Operating LP, 3.700%, 6/1/15		2,023,198
	2,005,000	EQT Corp., 8.125%, 6/1/19		2,358,586
	2,000,000	Halliburton Co., 6.150%, 9/15/19		2,190,816
	1,000,000	Marathon Oil Canada Corp., 8.375%, 5/1/12		1,110,712
	1,000,000	Transocean, Inc., 7.375%, 4/15/18		948,696
	3,803,000	XTO Energy, Inc., 7.500%, 4/15/12		4,234,435
				14,761,853


Principal Amount			*Value*

	*Corporate Bonds — (Continued)*
	*Financials — 14.4%*
$	2,000,000	American Express Credit Co., Series C, 7.300%, 8/20/13	$	2,264,410
	1,000,000	Bank of America Corp., 6.250%, 4/15/12		1,063,255
	2,000,000	Barrick International Bank Corp., 5.750%, 10/15/16 (a) (b)		2,215,090
	2,000,000	General Electric Capital Corp., 4.875%, 10/21/10		2,023,388
	1,000,000	General Electric Capital Corp., 5.250%, 10/19/12		1,068,891
	2,000,000	General Electric Capital Corp., Series G, MTN, 5.720%, 8/22/11		2,034,584
	1,000,000	Goldman Sachs Group, Inc., 6.600%, 1/15/12		1,057,643
	1,000,000	Goldman Sachs Group, Inc., 5.250%, 10/15/13		1,054,109
	2,000,000	HSBC Finance Corp., 5.625%, 6/15/20		1,995,636
	1,000,000	JPMorgan Chase & Co., 6.000%, 1/15/18		1,104,235
	1,000,000	Lincoln National Corp., 4.750%, 2/15/14		1,042,907
	3,000,000	MBNA America Bank Corp. N.A., 7.125%, 11/15/12 (a) (b)		3,266,595
	1,000,000	MetLife, Inc., 5.000%, 11/24/13		1,081,875
	1,000,000	MetLife, Inc., 5.700%, 6/15/35		977,998
	1,000,000	Morgan Stanley, 6.750%, 10/15/13		1,095,559
	2,000,000	Morgan Stanley, Series G, MTN, 2.930%, 5/14/13 (c)		2,007,154

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

Semi-Annual Shareholder Report


*Huntington Fixed Income Securities Fund*		(Continued)


Principal Amount			*Value*

	*Corporate Bonds — (Continued)*
	*Financials — (Continued)*
$	2,000,000	Nationwide Financial Services, Inc., 6.250%, 11/15/11	$	2,098,706
	1,000,000	Northern Trust Co., 6.500%, 8/15/18		1,175,210
	2,000,000	PNC Funding Corp., 3.625%, 2/8/15		2,058,710
	2,050,000	RenaissanceRe Holdings Ltd., 5.875%, 2/15/13		2,205,472
	2,000,000	Royal Bank of Canada, MTN, 2.100%, 7/29/13		2,030,496
	3,395,000	Wachovia Corp., 5.625%, 10/15/16		3,664,101
				38,586,024
	*Health Care — 1.7%*
	2,000,000	Astrazeneca PLC, 5.900%, 9/15/17		2,339,728
	1,000,000	Pfizer, Inc., 5.350%, 3/15/15		1,132,972
	1,000,000	Wyeth, 5.500%, 3/15/13		1,106,075
				4,578,775
	*Industrials — 3.2%*
	1,665,000	Emerson Electric Co., 5.125%, 12/1/16		1,889,707
	2,000,000	Raytheon Co., 5.500%, 11/15/12		2,195,504
	2,000,000	Union Pacific Corp., 5.650%, 5/1/17		2,228,664
	2,000,000	United Technologies Corp., 6.125%, 2/1/19		2,385,078
				8,698,953
	*Materials — 1.6%*
	2,000,000	Nucor Corp., 5.000%, 12/1/12		2,173,672
	2,000,000	Potash Corp. of Saskatchewan, Inc., 5.250%, 5/15/14		2,206,074
				4,379,746
	*Real Estate Investment Trusts — 2.3%*
	2,000,000	Hospitality Properties Trust, 6.750%, 2/15/13		2,121,508
	1,000,000	Kimco Realty Corp., 4.820%, 6/1/14		1,042,748
	1,000,000	Mack-Cali Realty Corp., 7.750%, 2/15/11		1,030,107
	2,000,000	Simon Property Group LP, 5.650%, 2/1/20		2,118,114
				6,312,477
	*Technology — 5.2%*
	2,000,000	CA, Inc., 6.125%, 12/1/14		2,213,280
	2,000,000	Cisco Systems, Inc., 5.500%, 1/15/40		2,096,222
	2,000,000	Hewlett-Packard Co., 5.500%, 3/1/18		2,303,468
	3,000,000	IBM Corp., 7.625%, 10/15/18		3,857,256
	2,000,000	Oracle Corp., 5.250%, 1/15/16		2,269,460


Principal Amount			*Value*

	*Corporate Bonds — (Continued)*
	*Technology — (Continued)*
$	1,000,000	Oracle Corp., 6.125%, 7/8/39	$	1,169,572
				13,909,258
	*Telecommunications — 3.4%*
	2,000,000	AT&T, Inc., 5.600%, 5/15/18		2,224,826
	2,000,000	Comcast Corp., 6.500%, 1/15/17		2,291,676
	2,000,000	Verizon Wireless, 7.375%, 11/15/13 (a) (b)		2,344,706
	2,000,000	Vodafone Group PLC, 5.000%, 12/16/13		2,166,208
				9,027,416
	*Utilities — 8.5%*
	2,500,000	Bay State Gas Co., 9.200%, 6/6/11		2,640,400
	1,000,000	Consolidated Edison Co. of New York, Inc., 3.850%, 6/15/13		1,061,783
	2,000,000	Constellation Energy Group, Inc., 4.550%, 6/15/15		2,104,240
	2,950,000	Dominion Resources, Inc., Series D, 5.000%, 3/15/13		3,193,794
	1,000,000	Duke Energy Corp., 6.300%, 2/1/14		1,125,508
	4,500,000	Duquesne Light Co., 6.700%, 4/15/12		4,865,112
	1,000,000	Georgia Power Co., 5.400%, 6/1/40		1,027,965
	1,800,000	Gulf Power Co., 4.900%, 10/1/14		1,939,106
	2,310,000	Metropolitan Edison, 4.875%, 4/1/14		2,437,204
	2,000,000	Pacific Gas & Electric Co., 6.250%, 12/1/13		2,272,000
				22,667,112
	*Total Corporate Bonds (Cost $131,299,880)*			*139,462,526*
	*U.S. Government Agencies — 27.9%*
	*Federal Farm Credit Bank — 1.9%*
	3,000,000	2.490%, 3/3/14		3,046,407
	2,000,000	4.710%, 3/6/15		2,247,296
				5,293,703
	*Federal Home Loan Bank — 13.2%*
	3,000,000	0.030%, 7/12/10 (d)		2,999,973
	3,000,000	5.000%, 9/9/11		3,154,485
	3,000,000	4.375%, 6/8/12		3,184,704
	3,000,000	1.750%, 12/14/12		3,057,792
	3,000,000	1.750%, 3/8/13		3,058,314
	3,000,000	5.375%, 6/14/13		3,362,418
	1,380,000	5.000%, 7/16/13		1,530,455
	2,000,000	2.000%, 5/14/15 (e)		2,027,050
	5,000,000	4.750%, 9/11/15		5,625,670
	6,500,000	4.750%, 12/16/16		7,310,010
				35,310,871

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

Semi-Annual Shareholder Report


*Huntington Fixed Income Securities Fund*		(Continued)


Principal Amount			*Value*

	*U.S. Government Agencies — (Continued)*
	Federal Home Loan Mortgage Corporation — 7.5%
$	4,000,000	6.480%, 12/5/11	$	4,330,720
	2,000,000	1.750%, 1/15/13		2,018,068
	3,000,000	2.000%, 1/25/13		3,023,043
	3,000,000	1.500%, 7/12/13		3,013,182
	2,000,000	5.000%, 1/30/14		2,248,958
	3,000,000	5.500%, 3/28/16		3,102,336
	2,000,000	4.875%, 6/13/18		2,263,708
				20,000,015
	*Federal National Mortgage Association — 5.3%*
	4,000,000	1.550%, 4/19/12		4,013,016
	2,000,000	2.020%, 8/20/13		2,020,492
	3,000,000	2.250%, 6/2/14		3,031,434
	3,000,000	3.000%, 9/22/14		3,015,846
	2,000,000	2.250%, 4/29/16 (e)		2,010,142
				14,090,930
	Total U.S. Government Agencies (Cost $71,251,082)			*74,695,519*
	*U.S. Treasury Obligations — 14.5%*
	*U.S. Treasury Bonds — 12.5%*
	1,500,000	9.125%, 5/15/18		2,212,968
	2,000,000	8.750%, 8/15/20		2,998,438
	4,000,000	7.125%, 2/15/23		5,538,124
	4,000,000	7.625%, 2/15/25		5,876,248
	4,000,000	6.750%, 8/15/26		5,553,124
	4,000,000	5.250%, 11/15/28		4,814,376
	4,000,000	4.250%, 5/15/39		4,229,376
	2,000,000	4.500%, 8/15/39		2,202,812
				33,425,466
	*U.S. Treasury Note — 2.0%*
	4,000,000	6.125%, 8/15/29		5,313,752
	Total U.S. Treasury Obligations (Cost $33,190,013)			*38,739,218*


Principal Amount or Shares			*Value*

	U.S. Government Mortgage Backed Agencies — 2.7%
	*Federal Home Loan Mortgage Corporation — 1.2%*
$	76,933	Pool # 599630, 6.500%, 8/1/16	$	83,743
	216,860	Pool # 254403, 6.000%, 8/1/17		236,462
	1,305,438	Pool # J05518, 5.500%, 9/1/22		1,410,994
	1,566,137	Pool # J08160, 5.000%, 12/1/22		1,672,218
				3,403,417
	Government National Mortgage Association — 1.5%
	1,815,971	Pool # 683937, 6.000%, 2/15/23		1,974,726
	1,530,257	Pool # 689593, 6.000%, 7/15/23		1,664,035
	115,410	Pool # 345128, 6.500%, 1/15/24		128,469
	28,424	Pool # 372962, 7.000%, 3/15/24		32,110
	24,962	Pool # 373015, 8.000%, 6/15/24		28,915
				3,828,255
	Total U.S. Government Mortgage Backed Agencies (Cost $6,715,869)			*7,231,672*
	*Preferred Stocks — 0.3%*
	*Financials — 0.1%*
	9,530	Prudential PLC, 6.500%		222,049
	*Real Estate Investment Trusts — 0.2%*
	25,000	Public Storage, Series F, 6.450%		584,250
	*Total Preferred Stocks (Cost $699,737)*			*806,299*
	*Cash Equivalents — 2.8%*
	7,536,989	Huntington Money Market Fund, Interfund Shares, 0.010% (f) (g)		7,536,989
	*Total Cash Equivalents (Cost $7,536,989)*			*7,536,989*
	Total Investments (Cost $250,693,570) — 100.2%			*268,472,223*
	*Liabilities in Excess of Other Assets — (0.2)%*			*(553,191)*
	*Net Assets — 100.0%*		$	*267,919,032*

(a)

Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(b)

Illiquid security.

(c)

Variable or Floating Rate Security. Rate disclosed is as of June 30, 2010.

(d)

Rate represents the effective yield at purchase.

(e)

Step Bond: Coupon rate is set for an initial period and then increased to a higher coupon rate at a specified date. The rate shown is the rate in effect at June 30, 2010.

(f)

Rate disclosed is the seven day yield as of June 30, 2010.

(g)

Investment in affiliate.

LP — Limited Partnership

MTN — Medium Term Note

PLC — Public Liability Co.

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

Semi-Annual Shareholder Report



*Huntington Intermediate Government Income Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
U.S. Government Agencies		49.9%
U.S. Government Mortgage Backed Agencies		23.5%
U.S. Treasury Obligations		11.9%
Collateralized Mortgage Obligations		10.2%
Cash¹		2.7%
Corporate Bonds		1.8%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


Principal Amount			*Value*

	*Corporate Bonds — 1.8%*
$	2,000,000	Morgan Stanley, 1.950%, 6/20/12 (a)	$	2,044,430
	*Total Corporate Bonds (Cost $1,999,509)*			*2,044,430*
	*U.S. Government Agencies — 49.6%*
	*Federal Farm Credit Bank — 19.8%*
	3,000,000	2.125%, 6/18/12		3,080,862
	3,000,000	1.375%, 6/25/13		3,016,812
	1,000,000	4.500%, 12/15/15		1,115,652
	2,000,000	4.875%, 12/16/15		2,258,676
	1,000,000	3.750%, 1/29/16		1,065,330
	1,000,000	4.350%, 6/17/16		1,036,931
	1,000,000	5.270%, 9/1/16		1,158,866
	2,000,000	5.050%, 3/8/17		2,269,922
	1,000,000	5.550%, 8/1/17		1,178,160
	1,000,000	4.250%, 4/16/18		1,083,591
	2,000,000	5.050%, 8/1/18		2,262,024
	2,000,000	3.950%, 11/25/19		2,056,548
	1,000,000	5.375%, 11/10/20		1,139,684
				22,723,058
	*Federal Home Loan Bank — 20.1%*
	1,075,000	1.750%, 12/14/12		1,095,709
	1,000,000	3.750%, 6/14/13		1,071,993
	3,000,000	5.375%, 6/14/13		3,362,418
	1,000,000	4.375%, 9/13/13		1,095,571
	830,000	4.750%, 12/12/14		928,444
	1,000,000	4.375%, 2/13/15		1,095,270
	2,500,000	2.875%, 6/12/15		2,589,795
	2,000,000	4.750%, 9/11/15		2,250,268
	1,000,000	4.875%, 3/11/16		1,134,824
	2,000,000	5.250%, 11/8/17		2,032,882
	1,500,000	4.250%, 3/9/18		1,617,526
	5,000,000	4.125%, 12/13/19		5,236,175
				23,510,875


Principal Amount			*Value*

	*U.S. Government Agencies — (Continued)*
	Federal Home Loan Mortgage Corporation — 3.5%
$	2,000,000	2.500%, 1/27/14	$	2,026,100
	2,000,000	3.000%, 9/30/15		2,032,874
				4,058,974
	*Federal National Mortgage Association — 6.2%*
	2,000,000	1.500%, 9/25/12		2,012,514
	1,000,000	3.125%, 5/15/15		1,029,030
	1,000,000	4.125%, 2/24/20		1,034,167
	3,000,000	5.625%, 11/15/21		3,171,306
				7,247,017
	Total U.S. Government Agencies (Cost $54,313,649)			*57,539,924*
	U.S. Government Mortgage Backed Agencies — 23.4%
	Federal Home Loan Mortgage Corporation — 6.9%
	284,927	Pool # M81004, 5.000%, 1/1/13		293,053
	212,849	Pool # E01184, 6.000%, 8/1/17		231,115
	730,962	Pool # B10827, 4.500%, 11/1/18		779,923
	1,282,822	Pool # J02717, 5.500%, 11/1/20		1,390,960
	700,648	Pool # C90699, 5.000%, 8/1/23		742,714
	938,790	Pool # C91167, 5.000%, 4/1/28		997,524
	360,337	Pool # G08005, 5.500%, 8/1/34		388,680
	441,225	Pool # 1G0865, 4.879%, 7/1/35(b)		464,218
	1,712,035	Pool # 972190, 5.414%, 11/1/35(b)		1,824,783
	791,956	Pool # G03609, 5.500%, 10/1/37		850,863
				7,963,833
	*Federal National Mortgage Association — 13.2%*
	162,566	Pool # 647408, 5.000%, 10/1/17		174,847
	994,700	Pool # 357805, 5.000%, 6/1/20		1,062,696
	1,075,110	Pool # 889799, 5.500%, 2/1/23		1,163,555

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

Semi-Annual Shareholder Report


*Huntington Intermediate Government Income Fund*		(Continued)


Principal Amount			*Value*

	U.S. Government Mortgage Backed Agencies — (Continued)
	Federal National Mortgage Association — (Continued)
$	360,738	Pool # 254911, 5.000%, 10/1/23	$	385,183
	832,639	Pool # 255360, 5.000%, 8/1/24		888,407
	798,805	Pool # 255767, 5.500%, 6/1/25		862,792
	1,196,419	Pool # 255984, 4.500%, 11/1/25		1,263,978
	776,108	Pool # 256116, 6.000%, 2/1/26		848,710
	626,616	Pool # 256213, 6.000%, 4/1/26		685,234
	1,241,199	Pool # 257536, 5.000%, 1/1/29		1,318,386
	1,176,516	Pool # MA0115, 4.500%, 7/1/29		1,223,074
	589,470	Pool # 254594, 5.500%, 1/1/33		636,112
	889,033	Pool # 783793, 6.000%, 7/1/34		975,353
	764,510	Pool # 807963, 5.000%, 1/1/35		812,444
	452,115	Pool # 806715, 5.500%, 1/1/35		486,900
	932,897	Pool # 735224, 5.500%, 2/1/35		1,006,130
	902,908	Pool # 868935, 5.500%, 5/1/36		970,682
	436,445	Pool # 907484, 6.000%, 1/1/37		474,184
				15,238,667
	Government National Mortgage Association — 3.3%
	655,037	Pool # 683552, 5.500%, 2/15/23		710,971
	779,627	Pool # 666057, 5.000%, 3/15/23		837,695
	201,312	Pool # 2699, 6.000%, 1/20/29		222,955
	238,723	Pool # 576456, 6.000%, 3/15/32		264,184
	717,711	Pool # 676974, 5.500%, 5/15/38		776,765
	997,250	Pool # 733602, 5.000%, 4/15/40		1,065,063
				3,877,633
	Total U.S. Government Mortgage Backed Agencies (Cost $25,489,432)			*27,080,133*
	*U.S. Treasury Obligations — 11.9%*
	*U.S. Treasury Inflation Protection Notes — 1.5%*
	1,500,000	2.000%, 1/15/16		1,777,494
	*U.S. Treasury Notes — 10.4%*
	1,000,000	5.000%, 8/15/11		1,051,680
	1,000,000	4.125%, 8/31/12		1,075,391
	2,000,000	4.250%, 11/15/14		2,227,344
	3,000,000	2.125%, 11/30/14		3,063,750
	2,000,000	4.500%, 2/15/16		2,263,594
	2,000,000	5.125%, 5/15/16		2,333,906
				12,015,665
	*Total U.S. Treasury Obligations (Cost $12,612,220)*			*13,793,159*
	*Collateralized Mortgage Obligations — 10.2%*
	*Federal Home Loan Bank — 0.4%*
	447,119	5.270%, 12/28/12		478,724
	Federal Home Loan Mortgage Corporation — 6.7%
	154,959	Series R007, Class AC, 5.875%, 5/15/16		157,381
	266,326	Series 2003-32, Class KB, 5.000%, 3/25/17		273,004


Principal Amount or Shares			*Value*

	Collateralized Mortgage Obligations — (Continued)
	Federal Home Loan Mortgage Corporation — (Continued)
$	435,663	Series 2555, Class B, 4.250%, 1/15/18	$	461,761
	138,249	Series 3046, Class YA, 5.000%, 2/15/19		138,001
	2,500,000	Series 2571, Class VP, 5.500%, 7/15/21		2,682,314
	98,787	Series 2649, Class OL, 4.500%, 4/15/26		99,162
	536,959	Series 2676, Class PG, 5.500%, 1/15/29		535,163
	1,000,000	Series 2974, Class BM, 5.000%, 9/15/31		1,010,304
	1,784,110	Series 2802, Class MB, 5.500%, 11/15/31		1,886,129
	595,810	Series 2976, Class HP, 4.500%, 1/15/33		593,363
				7,836,582
	*Federal National Mortgage Association — 0.8%*
	630,455	Series 2003-11, Class BA, 5.500%, 8/25/32		636,074
	151,579	Series 2003-16, Class CB, 4.000%, 2/25/33		159,427
				795,501
	Government National Mortgage Association — 2.3%
	1,500,000	Series 2003-100, Class VB, 5.500%, 1/20/23		1,609,938
	1,000,000	Series 2005-55, Class PD, 5.000%, 5/20/32		1,064,938
				2,674,876
	Total Collateralized Mortgage Obligations (Cost $11,244,920)			*11,785,683*
	*Cash Equivalents — 2.7%*
	3,129,339	Huntington Money Market Fund, Interfund Shares, 0.010% (c) (d)		3,129,339
	*Total Cash Equivalents (Cost $3,129,339)*			*3,129,339*
	Total Investments (Cost $108,789,069) — 99.6%			*115,372,668*
	*Other Assets in Excess of Liabilities — 0.4%*			*514,296*
	*Net Assets — 100.0%*		$	*115,886,964*

(a)

Security issued under terms of the Temporary Liquidity Guarantee Program and is guaranteed by the Federal Deposit Insurance Corporation.

(b)

Variable or Floating Rate Security. Rate disclosed is as of June 30, 2010.

(c)

Investment in affiliate.

(d)

Rate disclosed is the seven day yield as of June 30, 2010.

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

Semi-Annual Shareholder Report



*Huntington Mortgage Securities Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
U.S. Government Mortgage Backed Agencies		61.3%
Collateralized Mortgage Obligations		20.7%
Real Estate Investment Trusts		8.8%
U.S. Government Agencies		6.3%
Cash¹		2.9%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


Principal Amount			*Value*

	U.S. Government Mortgage Backed Agencies — 61.3%
	*Federal Home Loan Mortgage Corporation — 18.5%*
$	190,913	Pool # M80927, 5.000%, 7/1/11	$	196,276
	3,896	Pool # E65142, 6.500%, 7/1/11		4,082
	284,927	Pool # M81004, 5.000%, 1/1/13		293,142
	323,713	Pool # J03237, 5.500%, 8/1/16		350,950
	197,673	Pool # E96459, 5.000%, 5/1/18		212,452
	730,962	Pool # B10827, 4.500%, 11/1/18		780,152
	69,659	Pool # C90237, 6.500%, 11/1/18		76,848
	852,133	Pool # J10396, 4.000%, 7/1/19		900,182
	331,810	Pool # G12297, 6.000%, 7/1/21		361,608
	1,210,074	Pool # G12867, 4.500%, 8/1/22		1,288,481
	517,024	Pool # C90779, 5.000%, 1/1/24		548,227
	530,314	Pool # C90859, 5.500%, 10/1/24		573,769
	677,122	Pool # C90999, 5.500%, 11/1/26		730,949
	938,790	Pool # C91167, 5.000%, 4/1/28		997,817
	1,306,771	Pool # C91175, 5.000%, 5/1/28		1,388,936
	201,646	Pool # C00730, 6.000%, 3/1/29		222,611
	4,460,221	Pool # C91251, 4.500%, 6/1/29		4,675,570
	2,678,763	Pool # C91296, 5.000%, 4/1/30		2,848,792
	637,585	Pool # A15284, 5.500%, 10/1/33		688,433
	720,673	Pool # G08005, 5.500%, 8/1/34		777,471
	441,225	Pool # 1G0865, 4.879%, 7/1/35 (a)		464,356
	592,865	Pool # A55565, 6.000%, 12/1/36		645,056
	423,580	Pool # G08168, 6.000%, 12/1/36		460,869
	689,340	Pool # G03498, 5.500%, 11/1/37		740,722
				20,227,751
	*Federal National Mortgage Association — 36.3%*
	157,363	Pool # 254955, 4.000%, 10/1/10		157,972
	257,856	Pool # 254486, 5.000%, 9/1/17		277,376
	287,893	Pool # 663808, 5.000%, 11/1/17		309,688
	414,983	Pool # 684488, 5.000%, 12/1/17		446,399
	562,055	Pool # 693256, 5.000%, 4/1/18		604,605
	387,122	Pool # 254720, 4.500%, 5/1/18		413,597
	356,885	Pool # 786729, 5.500%, 8/1/19		387,750
	528,423	Pool # 896597, 5.000%, 8/1/21		565,784


Principal Amount			*Value*

	U.S. Government Mortgage Backed Agencies — (Continued)
	Federal National Mortgage Association — (Continued)
$	479,354	Pool # 254831, 5.000%, 8/1/23	$	511,987
	1,019,872	Pool # 254908, 5.000%, 9/1/23		1,089,301
	950,970	Pool # 254911, 5.000%, 10/1/23		1,015,709
	406,086	Pool # 255320, 5.000%, 7/1/24		433,411
	1,934,560	Pool # AC9607, 4.000%, 1/1/25		2,013,718
	2,921,259	Pool # 932438, 4.000%, 1/1/25		3,043,530
	1,254,448	Pool # 255711, 5.500%, 4/1/25		1,355,325
	431,098	Pool # 357771, 5.000%, 5/1/25		459,543
	797,560	Pool # 255834, 4.500%, 6/1/25		842,846
	1,196,419	Pool # 255984, 4.500%, 11/1/25		1,264,352
	970,135	Pool # 256116, 6.000%, 2/1/26		1,061,191
	2,411,055	Pool # 257163, 5.000%, 4/1/28		2,564,429
	1,463,088	Pool # 257238, 5.000%, 6/1/28		1,556,159
	1,378,634	Pool # 257281, 5.000%, 7/1/28		1,466,333
	1,241,199	Pool # 257536, 5.000%, 1/1/29		1,318,386
	1,882,425	Pool # MA0115, 4.500%, 7/1/29		1,957,507
	3,557,512	Pool # AC1219, 4.500%, 8/1/29		3,728,800
	1,907,686	Pool # MA0171, 4.500%, 9/1/29		1,999,537
	50,381	Pool # 602879, 6.000%, 11/1/31		55,627
	1,145,718	Pool # 729535, 5.500%, 7/1/33		1,235,835
	108,997	Pool # 748422, 6.000%, 8/1/33		120,074
	649,405	Pool # 786457, 5.235%, 7/1/34 (a)		693,313
	889,033	Pool # 783793, 6.000%, 7/1/34		975,492
	452,115	Pool # 806715, 5.500%, 1/1/35		486,970
	279,089	Pool # 814261, 6.000%, 1/1/35		306,230
	932,897	Pool # 735224, 5.500%, 2/1/35		1,006,275
	265,866	Pool # 836450, 6.000%, 10/1/35		289,894
	542,945	Pool # 845573, 5.429%, 2/1/36 (a)		579,524
	587,242	Pool # 745511, 5.000%, 4/1/36		622,501
	981,535	Pool # 745418, 5.500%, 4/1/36		1,056,284
	390,103	Pool # 888029, 6.000%, 12/1/36		424,627
	436,445	Pool # 907484, 6.000%, 1/1/37		474,252
				39,172,133

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

Semi-Annual Shareholder Report


*Huntington Mortgage Securities Fund*		(Continued)


Principal Amount or Shares			*Value*

	U.S. Government Mortgage Backed Agencies — (Continued)
	Government National Mortgage Association — 6.5%
$	724,625	Pool # 683915, 5.000%, 1/15/23	$	778,783
	746,455	Pool # 691761, 5.000%, 7/15/23		802,169
	2,102,000	Pool # 605653, 5.500%, 8/15/34		2,284,808
	1,335,034	Pool # 3637, 5.500%, 11/20/34		1,452,646
	717,711	Pool # 676974, 5.500%, 5/15/38		776,878
	997,250	Pool # 733602, 5.000%, 4/15/40		1,065,218
				7,160,502
	Total U.S. Government Mortgage Backed Agencies (Cost $63,484,676)			*66,560,386*
	*Common Stocks — 8.8%*
	*Real Estate Investment Trusts — 8.8%*
	10,074	Acadia Realty Trust		169,445
	8,000	Alexandria Real Estate Equities, Inc.		506,960
	2,000	AMB Property Corp.		47,420
	5,000	American Campus Communities, Inc.		136,450
	1,000	Associated Estates Realty Corp.		12,950
	3,000	BioMed Realty Trust, Inc.		48,270
	5,500	Boston Properties, Inc.		392,370
	6,500	Brandywine Realty Trust		69,875
	1,000	Camden Property Trust		40,850
	6,000	Cogdell Spencer, Inc.		40,560
	4,000	Corporate Office Properties Trust		151,040
	1,000	Developers Diversified Realty Corp.		9,900
	8,000	Digital Reality Trust, Inc.		461,440
	16,000	Douglas Emmett, Inc.		227,520
	13,000	Duke Realty Corp.		147,550
	5,000	DuPont Fabros Technology, Inc.		122,800
	9,000	EastGroup Properties, Inc.		320,220
	8,000	Equity Lifestyle Properties, Inc.		385,840
	8,000	Equity Residential		333,120
	4,500	Essex Property Trust, Inc.		438,930
	2,000	Excel Trust, Inc.*		24,000
	1,500	Federal Realty Investment Trust		105,405
	7,000	HCP, Inc.		225,750
	3,500	Healthcare Realty Trust, Inc.		76,895
	8,000	Home Properties, Inc.		360,560
	12,616	Host Hotels & Resorts, Inc.		170,064
	3,000	Kilroy Realty Corp.		89,190
	9,600	Kimco Realty Corp.		129,024
	10,000	Kite Realty Group Trust		41,800
	11,000	LaSalle Hotel Properties		226,270
	11,000	Mack-Cali Realty Corp.		327,030
	7,500	National Retail Properties, Inc.		160,800
	2,500	Pennsylvania Real Estate Investment Trust		30,550
	1,000	Post Properties, Inc.		22,730
	5,886	ProLogis Trust		59,625
	5,000	Public Storage, Inc.		439,550
	2,000	Realty Income Corp.		60,660
	6,500	Regency Centers Corp.		223,600
	5,980	Simon Property Group, Inc.		482,885


Principal Amount or Shares			*Value*

	*Common Stocks — (Continued)*
	*Real Estate Investment Trusts — (Continued)*
	1,903	SL Green Realty Corp.	$	104,741
	1,000	Sovran Self Storage, Inc.		34,430
	9,000	Tanger Factory Outlet Centers, Inc.		372,420
	1,000	Terreno Realty Corp.*		17,710
	9,915	The Macerich Co.		370,028
	6,376	UDR, Inc.		121,973
	11,000	Ventas, Inc.		516,450
	5,936	Vornado Realty Trust		433,031
	5,000	Washington Real Estate Investment Trust		137,950
	5,000	Weingarten Realty Investors		95,250
	2,000	Westfield Group		20,350
	*Total Common Stocks (Cost $8,782,598)*			*9,544,231*
	*U.S. Government Agencies — 6.3%*
	*Federal Home Loan Bank — 4.8%*
$	2,000,000	1.000%, 12/30/11		2,006,738
	1,000,000	4.250%, 3/9/18		1,080,128
	2,000,000	4.125%, 12/13/19		2,098,574
				5,185,440
	*Federal Home Loan Mortgage Corporation — 0.5%*
	500,000	4.500%, 4/2/14		554,179
	*Federal National Mortgage Association — 1.0%*
	1,000,000	5.000%, 3/2/15		1,127,517
	Total U.S. Government Agencies (Cost $6,488,654)			*6,867,136*
	*Collateralized Mortgage Obligations — 20.7%*
	*Citicorp Mortgage Securities, Inc. — 1.1%*
	1,300,538	5.500%, 10/25/35		1,220,328
	*Federal Home Loan Bank — 0.4%*
	406,752	4.800%, 2/25/13		433,075
	*Federal Home Loan Mortgage Corporation — 13.3%*
	713,955	REMIC Series 2584, Class LE, 4.000%, 12/15/13		716,735
	795,879	Series 2780, Class QC, 4.500%, 3/15/17		810,307
	650,016	Series 3322, Class LA, 5.250%, 4/15/17		692,679
	648,899	Series 2497, Class NE, 5.000%, 9/15/17		695,629
	753,694	Series 2770, Class TC, 4.000%, 1/15/18		780,738
	138,249	Series 3046, Class YA, 5.000%, 2/15/19		138,013
	1,000,000	Series 2784, Class HJ, 4.000%, 4/15/19		1,047,211
	1,000,000	Series 2541, Class VL, 5.500%, 11/15/20		1,057,260
	1,000,000	Series 2571, Class VP, 5.500%, 7/15/21		1,073,693

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

Semi-Annual Shareholder Report


*Huntington Mortgage Securities Fund*		(Continued)


Principal Amount			*Value*

	Collateralized Mortgage Obligations — (Continued)
	Federal Home Loan Mortgage Corporation — (Continued)
$	634,178	REMIC Series 2543, Class PQ, 5.500%, 4/15/22	$	672,776
	536,959	Series 2676, Class PG, 5.500%, 1/15/29		535,234
	2,000,000	REMIC Series 2553, Class AE, 5.500%, 9/15/29		2,020,147
	1,000,000	Series 2672, Class GH, 5.500%, 8/15/31		1,064,325
	1,000,000	Series 2974, Class BM, 5.000%, 9/15/31		1,010,701
	1,000,000	Series 2802, Class MB, 5.500%, 11/15/31		1,057,752
	595,810	Series 2976, Class HP, 4.500%, 1/15/33		593,882
	454,032	Series 3002, Class CA, 5.000%, 7/15/35		454,580
				14,421,662
	*Federal National Mortgage Association — 5.9%*
	302,745	Series 2002-62, Class VK, 5.500%, 12/25/16		307,530
	2,126,562	Series 2004-45, Class VD, 4.500%, 3/25/18		2,190,938
	177,941	Series 2006-4, Class A, 6.000%, 11/25/22		181,630
	401,992	Series 2003-38, Class TC, 5.000%, 3/25/23		430,926
	689,199	Series 2004-45, Class NC, 5.500%, 11/25/28		695,768


Principal Amount or Shares			*Value*

	Collateralized Mortgage Obligations — (Continued)
	Federal National Mortgage Association — (Continued)
$	497,865	Series 1999-13, Class PH, 6.000%, 4/25/29	$	556,610
	941,188	Series 2003-53, Class JL, 5.000%, 12/25/31		979,294
	1,000,000	Series 2003-92, Class KH, 5.000%, 3/25/32		1,081,240
				6,423,936
	Total Collateralized Mortgage Obligations (Cost $21,818,947)			*22,499,001*
	*Cash Equivalents — 2.8%*
	3,080,282	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)		3,080,282
	*Total Cash Equivalents (Cost $3,080,282)*			*3,080,282*
	Total Investments (Cost $103,655,157) — 99.9%			*108,551,036*
	*Other Assets in Excess of Liabilities — 0.1%*			*87,976*
	*Net Assets — 100.0%*		$	*108,639,012*

(a)

Variable or Floating Rate Security. Rate disclosed is as of June 30, 2010.

(b)

Rate disclosed is the seven day yield as of June 30, 2010.

(c)

Investment in affiliate.

*	Non-income producing security.

REMIC — Real Estate Mortgage Investment Conduit

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

Semi-Annual Shareholder Report



*Huntington Ohio Tax-Free Fund*		June 30, 2010

Portfolio of Investments Summary Table

(Unaudited)


*Asset Allocation*		Percentage of Market Value
General Obligations		36.4%
School Districts		26.2%
Water		10.7%
Higher Education		9.2%
Facilities		4.2%
Medical		4.1%
Transportation		3.5%
Airports		2.8%
General Fund		1.6%
Power		1.1%
Other		0.2%
*Total*		*100.0%*

Portfolio of Investments (Unaudited)


Principal Amount			*Value*

	*Municipal Bonds — 98.4%*
	*Ohio — 98.4%*
$	100,000	Akron, OH, G.O., (MBIA-RE FGIC Ins.), 5.000%, 12/1/22	$	102,586
	225,000	Akron, OH, G.O., (AMBAC Ins.), 5.000%, 12/1/24		238,745
	50,000	Akron, OH, Hospital Improvements Revenue, (AGM Ins.), 5.250%, 11/15/15		52,006
	70,000	Akron, OH, Pension Funding Refunding Revenue, (AMBAC Ins.), 5.250%, 12/1/18		71,263
	120,000	Akron, OH, Refunding & Improvement, G.O., (Various Purposes), (National Reinsurance), 5.250%, 12/1/18		127,618
	335,000	Akron, OH, Water Utility Improvements Revenue, (MBIA Ins.), 5.250%, 12/1/17		341,335
	205,000	Avon Lake, OH, G.O., (Various Purposes), 3.500%, 12/1/17		212,722
	205,000	Bowling Green State University, OH, General Receipts Revenue, (AMBAC Ins.), 5.250%, 6/1/19		215,857
	200,000	Brookfield Local School District, OH, School Facilities Improvement, G.O., (AGM Ins. Student Credit Program), 5.000%, 1/15/22		220,390


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	170,000	Butler County, OH, G.O., (AMBAC Ins.), 4.750%, 12/1/20	$	179,377
	400,000	Butler County, OH, G.O., (AMBAC Ins.), 4.750%, 12/1/24		421,396
	300,000	Butler County, OH, Sewer Systems Revenue, (AGM Ins.), 5.000%, 12/1/19		339,117
	500,000	Centerville, OH, G.O., (National Reinsurance), 5.000%, 12/1/20		543,590
	200,000	Chagrin Falls, OH, Exempt Village School District, G.O., (MBIA Ins.), 5.250%, 12/1/19		219,376
	400,000	Cincinnati, OH, Recovery Zone Facility Revenue, Series A, (AMBAC Ins.), 4.000%, 11/1/19		415,772
	355,000	Cincinnati, OH, Water System Revenue, 5.000%, 12/1/19		397,259
	500,000	Cleveland, OH, Airport System Revenue, Series C, (AGM Ins.), 5.000%, 1/1/18		539,270
	365,000	Cleveland, OH, Airport System Revenue, Series C, (Assured Guaranty), 5.000%, 1/1/23		381,421
	150,000	Cleveland, OH, Income Tax Revenue, 5.000%, 5/15/17		166,796

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

Semi-Annual Shareholder Report


*Huntington Ohio Tax-Free Fund*		(Continued)


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	600,000	Cleveland, OH, Municipal School District, G.O., (National Reinsurance, FGIC Ins., Student Credit Program), 5.000%, 12/1/21	$	632,166
	500,000	Cleveland, OH, Public Power System Revenue, Series A, (FGIC Ins.), 5.000%, 11/15/16		560,550
	80,000	Cleveland, OH, School District Refunding, G.O., (FGIC Ins.), 5.250%, 12/1/14		86,461
	400,000	Cleveland, OH, School District Refunding, G.O., (FGIC Ins.), 5.000%, 12/1/18		424,616
	335,000	Cleveland, OH, State University Revenue, (FGIC Ins.), 5.000%, 6/1/17		372,510
	65,000	Cleveland, OH, Waterworks Refunding Revenue, Series G, (MBIA Ins.), 5.500%, 1/1/13		67,855
	75,000	Columbus, OH, G.O., Series A, 5.000%, 6/15/13		83,837
	500,000	Columbus, OH, Refunding, G.O., Series C, 5.000%, 7/15/16		567,785
	250,000	Columbus, OH, Regional Airport Authority Revenue, (MBIA Ins.), 5.000%, 1/1/20		271,440
	100,000	Columbus, OH, Regional Airport Authority Revenue, (AGM National Reinsurance), 5.000%, 1/1/21		107,794
	535,000	Crawford County, OH, Unrefunded, G.O., (AMBAC Ins.), 4.750%, 12/1/19		539,066
	250,000	Cuyahoga County, OH, Refunding Revenue, Series A, 5.750%, 1/1/24		260,483
	350,000	Cuyahoga County, OH, Revenue, Series A, 6.000%, 1/1/17		378,941
	250,000	Delaware, OH, Parks & Recreational Income Tax Special Obligation Revenue, 4.000%, 12/1/19		262,185
	250,000	Dublin, OH, City School District, School Facilities Construction & Improvement, G.O., (AGM Ins.), 5.000%, 12/1/20		267,307
	360,000	Fairfield, OH, Local School District, G.O., (AGM Ins.), 4.250%, 12/1/18		384,296
	150,000	Fairless, OH, Local School District, G.O., (AGM Ins.), 5.000%, 12/1/21		160,302
	115,000	Field, OH, Local School District, G.O., (AMBAC Ins.), 5.000%, 12/1/18		121,064
	65,000	Field, OH, Local School District, G.O., (AMBAC Ins.), 5.000%, 12/1/19		67,895


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	220,000	Findlay, OH, City School District, Capital Appreciation School Facilities Construction & Improvement, G.O., Series A, 3.662%, 12/1/17 (a)	$	169,671
	155,000	Forest Hills, OH, Local School District Revenue, (AGM Ins.), 4.750%, 12/1/16		165,782
	350,000	Franklin County, OH, Hospital Revenue, 4.000%, 11/1/16		368,557
	190,000	Franklin County, OH, Municipal Facilities Improvements, G.O., (MBIA Ins.), 4.650%, 12/1/15		200,330
	35,000	Gallia County, OH, Local School District, G.O., (AGM Ins.), 4.500%, 12/1/20		36,794
	335,000	Greater Cleveland Regional Transit Authority, OH, Capital Improvement, G.O., (MBIA-RE FGIC Ins.), 5.000%, 12/1/21		359,428
	340,000	Greater Cleveland, Regional Transit Authority, OH, G.O., (FGIC Ins.), 5.000%, 12/1/15		386,196
	540,000	Greene County, OH, Refunding, G.O., Series A, (AMBAC Ins.), 5.000%, 12/1/19		623,592
	450,000	Greene County, OH, Sewer System Revenue, (AMBAC Ins.), 5.000%, 12/1/18		488,488
	275,000	Greene County, OH, Water & Sewer Revenue, (AGM Ins.), 5.000%, 12/1/21		294,704
	200,000	Hamilton County, OH, Sewer System Revenue, Series A, (MBIA Ins.), 5.000%, 12/1/20		219,352
	135,000	Hamilton, OH, Electric Revenue, Series A, (AGM Ins.), 4.150%, 10/15/15		146,915
	280,000	Hamilton, OH, G.O., (Various Purposes), (Assured Guaranty), 5.000%, 11/1/21		312,432
	260,000	Hilliard, OH, School District, Capital Appreciation Refunding School Improvement, G.O., Series B, 4.140%, 12/1/18 (a)		189,810
	115,000	Hilliard, OH, School District, Refunding School Improvement, G.O., Series B, 2.000%, 12/1/10		115,633
	150,000	Hudson City, OH, G.O., (AMBAC Ins.), 5.000%, 12/1/19		163,317
	75,000	Independence, OH, Rockside Road Improvement, G.O., (AMBAC Ins.), 5.000%, 12/1/20		82,154
	335,000	Kent State University, OH, General Receipts Revenue, Series B, (Assured Guaranty), 5.000%, 5/1/19		378,255

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

Semi-Annual Shareholder Report


*Huntington Ohio Tax-Free Fund*		(Continued)


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	250,000	Kettering, OH, City School District, Refunding, G.O., (AGM Ins.), 5.000%, 12/1/15	$	279,105
	400,000	Kettering, OH, G.O., 4.750%, 12/1/22		426,620
	95,000	Keystone, OH, Local School District, G.O., (AGM Ins.), 5.000%, 12/1/19		101,224
	285,000	Lakewood, OH, City School District, G.O., (AGM Ins.), 5.000%, 12/1/18		305,112
	100,000	Licking County, OH, Joint Vocational School District, G.O., (MBIA Ins.), 5.375%, 12/1/14		111,246
	300,000	Licking Heights, OH, Local School District, G.O., (National Reinsurance, FGIC Ins.), 4.750%, 12/1/20		312,669
	400,000	Lorain County, OH, Hospital Revenue, Series A, 5.750%, 10/1/18		412,388
	460,000	Lucas County, OH, Hospital Refunding Revenue, (AMBAC Ins.), 5.000%, 11/15/11		478,138
	235,000	Madison, OH, Local School District Refunding, G.O., (AGM Ins.), 4.000%, 12/1/17		243,594
	500,000	Mahoning County, OH, Sewer Systems, Refunding Revenue, (AMBAC Ins.), 5.200%, 12/1/14		511,130
	600,000	Medina County, OH, Library District, G.O., (FGIC Ins.), 5.250%, 12/1/20		637,548
	500,000	Middletown, OH, G.O., (AGM Ins.), 5.000%, 12/1/21		558,320
	50,000	Montgomery County, OH, Public Improvements, G.O., 5.500%, 12/1/13		50,949
	540,000	Montgomery County, OH, Refunding & Improvement, G.O., (Various Purposes), (National Reinsurance), 5.000%, 12/1/21		584,680
	250,000	Montgomery County, OH, Water Refunding Revenue, (AMBAC Ins.), 5.375%, 11/15/16		259,363
	200,000	Mount Healthy, OH, City School District, School Improvement, G.O., (AGM Ins.), 5.250%, 12/1/19		229,326
	50,000	Mount Vernon, OH, City Schools Refunding, G.O., (AGM Ins.), 5.000%, 12/1/17		54,765
	480,000	Mount Vernon, OH, Waterworks Refunding Revenue, (Assured Guaranty), 5.000%, 12/1/17		535,862


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	25,000	New Albany, Plain Local School District, G.O., (FGIC Ins.), 5.500%, 12/1/18	$	27,354
	400,000	North Canton, OH, City School District, Refunding School Improvement, G.O., (Assured Guaranty Student Credit Program), 4.000%, 12/1/15		429,512
	200,000	Ohio Capital Asset Financing Program Fractionalized Interest, G.O., Series B, 5.000%, 12/1/22		216,820
	65,000	Ohio State Building Authority Revenue, Series A, (AGM Ins.), 5.500%, 4/1/15		70,670
	400,000	Ohio State Building Authority Revenue, Series A, 5.000%, 10/1/23		441,004
	125,000	Ohio State Building Authority State Facilities Revenue, Series A, (AGM Ins.), 5.500%, 10/1/14		131,446
	150,000	Ohio State Building Authority State Facilities Revenue, Series A, 5.000%, 4/1/16		160,469
	500,000	Ohio State Building Authority State Facilities Revenue, Series A, (AGM Ins.), 4.750%, 4/1/20		520,390
	500,000	Ohio State Common Schools, G.O., Series A, 5.000%, 9/15/19		549,645
	150,000	Ohio State Common Schools, G.O., Series A, 5.000%, 6/15/22		160,380
	150,000	Ohio State Common Schools, G.O., Series A, 5.000%, 6/15/24		159,008
	300,000	Ohio State Common Schools, G.O., Series A, 4.500%, 9/15/24		309,192
	550,000	Ohio State Community Schools, G.O., Series A, 5.000%, 6/15/21		591,233
	140,000	Ohio State Community Schools, G.O., Series B, 5.000%, 9/15/18		146,948
	100,000	Ohio State Community Schools, G.O., Series B, (AGM Ins.), 5.000%, 9/15/18		105,134
	175,000	Ohio State Conservation Projects, G.O., Series A, 5.000%, 3/1/15		189,723
	700,000	Ohio State Conservation Projects, G.O., Series A, 5.000%, 3/1/17		747,040
	225,000	Ohio State Conservation Projects, G.O., Series A, 5.000%, 3/1/19		242,717
	300,000	Ohio State Higher Education, G.O., Series A, 5.000%, 5/1/22		317,259
	670,000	Ohio State Higher Education, G.O., Series A, 5.000%, 2/1/24		715,875

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

Semi-Annual Shareholder Report


*Huntington Ohio Tax-Free Fund*		(Continued)


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	250,000	Ohio State Higher Educational Facility Commission, Dension University Project Revenue, 5.000%, 11/1/20	$	267,592
	25,000	Ohio State Highway Improvements Revenue, 5.000%, 2/15/17		25,707
	200,000	Ohio State Housing Finance Agency Residential Mortgage Revenue, Series A, 5.000%, 9/1/23		209,602
	200,000	Ohio State Housing Finance Agency Residential Mortgage Revenue, Series J, (GNMA/FNMA/FHLMC Ins.), 4.875%, 9/1/15		206,542
	125,000	Ohio State Housing Finance Agency Residential Mortgage Revenue, Series J, (GNMA/FNMA/FHLMC Ins.), 5.900%, 9/1/23		133,959
	50,000	Ohio State Major New State Infrastructure Project Revenue, Series 2008-1, 5.500%, 6/15/20		57,856
	150,000	Ohio State Parks & Recreation Revenue, Series II-A, (AGM Ins.), 5.000%, 12/1/17		163,077
	100,000	Ohio State Refunding Common Schools, G.O., Series D, 5.500%, 9/15/19		119,860
	250,000	Ohio State Revitalization Revenue Project, Series A, (AMBAC Ins.), 5.000%, 4/1/21		268,920
	450,000	Ohio State Turnpike Commission Revenue, 5.500%, 2/15/20		464,098
	1,000,000	Ohio State Turnpike Commission Revenue, Series A, (MBIA-RE FGIC Ins.), 5.500%, 2/15/20		1,161,960
	100,000	Ohio State University Cultural & Sports Capital Facilities Refunding Revenue, Series A, (AGM Ins.), 5.000%, 4/1/17		109,830
	400,000	Ohio State Water Development Authority Pollution Control Revenue, 5.000%, 6/1/17		442,924
	30,000	Ohio State Water Development Authority Refunding Revenue, 5.250%, 6/1/11		31,313
	655,000	Ohio State, G.O., Series A, 5.375%, 9/1/23		736,331
	300,000	Ohio State, G.O., Series B, 5.000%, 9/15/16		346,674
	350,000	Ohio State, G.O., Series D, 5.000%, 9/15/20		385,976


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	685,000	Ohio State, Public Improvements, G.O., Series A, 5.000%, 3/1/18	$	736,348
	395,000	Olentangy, OH, Local School District, Capital Appreciation School Facilities Construction & Improvement, G.O., Series A, 3.550%, 12/1/19 (a)		288,488
	500,000	Olentangy, OH, Local School District, G.O., (AGM Ins.)., 5.000%, 12/1/18		564,970
	300,000	Olentangy, OH, Local School District, G.O., (AGM Ins.), 5.000%, 12/1/21		328,488
	235,000	Pandora Gilboa, OH, Local School District, Putnam County Capital Appreciation Refunding, G.O., Student Credit Program, 3.031%, 12/1/15 (a)		201,898
	140,000	Pandora Gilboa, OH, Local School District, Putnam County Capital Appreciation Refunding, G.O., Student Credit Program, 3.448%, 12/1/16 (a)		113,961
	200,000	Pickerington, OH, Local School District, School Facilities Construction & Improvements, G.O., 5.000%, 12/1/17		225,946
	470,000	River Valley, OH, Local School District, School Facilities Construction & Improvements, G.O., (AGM Ins. Student Credit Program), 5.250%, 11/1/23		563,610
	100,000	Sebring, OH, Local School District, Capital Appreciation Refunding Class Room Facilities, G.O., Student Credit Program, 3.886%, 12/1/16 (a)		79,827
	100,000	Sebring, OH, Local School District, Capital Appreciation Refunding Class Room Facilities, G.O., Student Credit Program, 4.202%, 12/1/17 (a)		75,405
	150,000	Seven Hills, OH, Capital Improvement, G.O., 5.250%, 12/1/18		173,693
	1,040,000	Shaker Heights, OH, Urban Renewal Refunding, G.O., (AMBAC Ins.), 5.000%, 12/1/17		1,108,858
	200,000	Sidney, OH, City School District, G.O., (FGIC Ins.), 5.000%, 12/1/12		213,582
	780,000	Southwest Licking, Local School District, G.O., (AMBAC Ins.), 5.000%, 12/1/19		822,182
	325,000	Strongsville, OH, Library Improvements, G.O., (FGIC Ins.), 5.000%, 12/1/15		338,598

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

Semi-Annual Shareholder Report


*Huntington Ohio Tax-Free Fund*		(Continued)


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	235,000	Swanton, OH, Local School District, School Improvement, G.O., (FGIC Ins.), 4.900%, 12/1/15	$	245,124
	615,000	Toledo, OH, City School District, School Facilities Improvements, G.O., Student Credit Program, 4.125%, 12/1/19		637,761
	225,000	Toledo, OH, Sewer System Revenue, (AMBAC Ins.), 5.000%, 11/15/18		237,130
	700,000	Toledo, OH, Waterworks Revenue, (MBIA Ins.), 5.000%, 11/15/19		749,455
	300,000	Toledo, OH, Waterworks Revenue, (MBIA-RE FGIC Ins.), 5.000%, 11/15/22		317,292
	220,000	Troy, OH, Capital Facilities, G.O., 6.250%, 12/1/11		230,470
	400,000	Troy, OH, City School District, School Improvement, G.O., (AGM Ins.), 5.000%, 12/1/18		435,512
	850,000	Troy, OH, G.O., 4.750%, 12/1/22		892,857
	320,000	Troy, OH, G.O., 4.750%, 12/1/24		333,750
	75,000	Trumbull County, OH, G.O., (Various Purposes), (AGM Ins.), 5.000%, 12/1/20		84,171
	350,000	Trumbull County, OH, Public Improvements Refunding, G.O., (MBIA Ins.), 5.125%, 12/1/13		374,906
	235,000	Twinsburg, OH, Local School District Refunding, G.O., (National Reinsurance, FGIC Ins.), 5.000%, 12/1/18		250,346
	655,000	Twinsburg, OH, Recreational Facilities Improvements, G.O., (FGIC Ins.), 5.500%, 12/1/17		680,709
	500,000	University of Akron, OH, General Receipts Revenue, Series B, (AGM Ins.), 5.250%, 1/1/24		539,415
	500,000	University of Cincinnati, OH, General Receipts Revenue, Series A, (AMBAC Ins.), 5.000%, 6/1/17		545,500
	300,000	University of Cincinnati, OH, General Receipts Revenue, Series A, (MBIA Ins.), 5.000%, 6/1/19		326,031
	300,000	University of Cincinnati, OH, General Receipts Revenue, Series A, (AMBAC Ins.), 5.000%, 6/1/19		321,219
	500,000	University of Cincinnati, OH, General Receipts Revenue, Series A, (AGM Ins.), 5.000%, 6/1/20		542,720


Principal Amount or Shares			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	500,000	University of Cincinnati, OH, General Receipts Revenue, Series A, (MBIA Ins.), 5.000%, 6/1/22	$	541,160
	400,000	University of Toledo, OH, General Receipts Revenue, Series A, (AMBAC Ins.), 5.000%, 6/1/19		430,100
	100,000	Van Buren, OH, Local School District, Capital Appreciation Advance Refunding, G.O., (AGM Ins.), 3.275%, 12/1/16 (a)		82,122
	50,000	Warren County, OH, Waterworks Refunding Revenue, (AGM Ins.), 5.000%, 12/1/15		53,782
	150,000	Warren County, OH, Waterworks Refunding Revenue, (AGM Ins.), 5.000%, 12/1/18		158,801
	100,000	Washington County, OH, Juvenile Detention Home, G.O., (AGM Ins.), 5.000%, 12/1/18		100,262
	650,000	Washington Court House, OH, School Improvements, G.O., (FGIC Ins.), 5.000%, 12/1/19		684,508
	65,000	Western Reserve, OH, Local School District, Capital Appreciation Classroom Facilities, G.O., Student Credit Program, 3.900%, 1/15/18 (a)		49,183
	325,000	Western Reserve, OH, Local School District, Capital Appreciation Classroom Facilities, G.O., Student Credit Program, 4.099%, 1/15/19 (a)		233,821
	120,000	Westerville, OH, G.O., (Various Purposes), 2.750%, 12/1/17		121,933
	200,000	Westerville, OH, City School District, G.O., (National Reinsurance), 5.000%, 12/1/17		217,496
	125,000	Westerville, OH, G.O., (AMBAC Ins.), 5.000%, 12/1/23		137,730
	300,000	Wyoming, OH, City School District, Refunding School Improvement, G.O., (AGM Ins.), 5.000%, 12/1/20		325,812
	*Total Municipal Bonds (Cost $48,449,372)*			*49,676,870*
	*Cash Equivalents — 1.9%*
	985,862	Fidelity Institutional Tax-Exempt Portfolio, 0.110% (b)		985,862
	*Total Cash Equivalents (Cost $985,862)*			*985,862*
	Total Investments (Cost $49,435,234) — 100.3%			*50,662,732*
	*Liabilities in Excess of Other Assets — (0.3)%*			*(173,291)*
	*Net Assets — 100.0%*		$	*50,489,441*

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

Semi-Annual Shareholder Report


*Huntington Ohio Tax-Free Fund*		(Continued)

(a)

Rate represents the effective yield at purchase.

(b)

Rate disclosed is the seven day yield as of June 30, 2010.

AGM — Assured Guaranty Municipal Corp.

AMBAC — American Municipal Bond Assurance Corp.

FGIC — Financial Guaranty Insurance Co.

FHLMC — Federal Home Loan Mortgage Corporation

FNMA — Federal National Mortgage Association

GNMA — Government National Mortgage Association

G.O. — General Obligation

Ins. — Insured

MBIA — Municipal Bond Insurance Association

MBIA-RE — Municipal Bond Insurance Association - Reinsurance

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

Semi-Annual Shareholder Report



*Huntington Short/Intermediate Fixed Income Securities Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Corporate Bonds		64.9%
U.S. Government Agencies		30.3%
U.S. Treasury Obligations		3.0%
Cash¹		1.8%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)


Principal Amount			*Value*

	*Corporate Bonds — 64.6%*
	*Consumer Discretionary — 4.1%*
$	1,585,000	General Mills, Inc., 5.250%, 8/15/13	$	1,748,245
	1,000,000	Johnson Controls, Inc., 4.875%, 9/15/13		1,077,173
	1,000,000	McDonald’s Corp., 4.300%, 3/1/13		1,074,300
	2,000,000	Sherwin-Williams Co., 3.125%, 12/15/14		2,069,804
	1,000,000	The Walt Disney Co., Series D, 4.500%, 12/15/13		1,101,362
				7,070,884
	*Consumer Staples — 5.7%*
	2,000,000	Anheuser-Busch InBev Worldwide, Inc., 2.500%, 3/26/13		2,023,710
	1,000,000	ConAgra Foods, Inc., 5.875%, 4/15/14		1,130,665
	1,000,000	H.J. Heinz Co., 5.350%, 7/15/13		1,099,037
	2,000,000	Kellogg Co., 5.125%, 12/3/12		2,172,462
	2,000,000	Safeway, Inc., 5.800%, 8/15/12		2,172,728
	1,000,000	Sysco Corp., 4.200%, 2/12/13		1,071,993
				9,670,595
	*Energy — 7.6%*
	1,000,000	Apache Corp., 6.000%, 9/15/13		1,120,410
	2,000,000	BJ Services Co., 5.750%, 6/1/11		2,082,684
	1,000,000	Chevron Corp., 3.450%, 3/3/12		1,042,224
	1,000,000	ConocoPhillips, 4.750%, 2/1/14		1,099,761
	1,000,000	Kinder Morgan Energy Partners, LP, 5.000%, 12/15/13		1,064,260
	1,000,000	Marathon Oil Corp., 6.500%, 2/15/14		1,125,968
	1,000,000	Nabors Industries Ltd., 5.375%, 8/15/12		1,062,631


Principal Amount			*Value*

	*Corporate Bonds — (Continued)*
	*Energy — (Continued)*
$	1,000,000	Noble Corp., 5.875%, 6/1/13	$	1,085,476
	1,000,000	Premcor Refining Group, 6.125%, 5/1/11		1,027,108
	1,000,000	Spectra Energy Capital LLC, 5.900%, 9/15/13		1,088,838
	1,000,000	XTO Energy, Inc., 5.750%, 12/15/13		1,135,915
				12,935,275
	*Financials — 18.2%*
	2,000,000	American Express Co., 5.250%, 11/21/11 (a)		2,078,048
	1,000,000	BB&T Corp., 3.100%, 7/28/11		1,016,806
	1,000,000	Boeing Capital Corp., 3.250%, 10/27/14		1,041,540
	2,000,000	Caterpillar Financial Services Corp., 5.125%, 10/12/11		2,099,654
	1,000,000	Charles Schwab Corp., 4.950%, 6/1/14		1,084,231
	1,500,000	Citigroup, Inc., 6.010%, 1/15/15		1,573,324
	1,000,000	General Electric Capital Corp., 3.500%, 8/13/12		1,032,192
	1,500,000	General Electric Capital Corp., 5.250%, 10/19/12		1,603,336
	1,500,000	Goldman Sachs Group, Inc., 5.500%, 11/15/14		1,588,083
	1,000,000	Key Bank N.A., 5.500%, 9/17/12		1,064,914
	433,000	Marshall & Ilsley Corp., 5.300%, 9/8/11		434,699
	2,000,000	MetLife Global Funding I, 5.125%, 11/9/11 (a)		2,079,080

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

Semi-Annual Shareholder Report


*Huntington Short/Intermediate Fixed Income Securities Fund*		(Continued)


Principal Amount			*Value*

	*Corporate Bonds — (Continued)*
	*Financials — (Continued)*
$	2,000,000	Morgan Stanley, Series G, MTN, 2.930%, 5/14/13 (b)	$	2,007,154
	1,500,000	PNC Funding Corp., 3.625%, 2/8/15		1,544,033
	1,500,000	Principal Life, Inc., 5.150%, 9/30/11		1,546,089
	2,000,000	Prudential Financial, Inc., Series D, MTN, 3.875%, 1/14/15		2,014,228
	1,000,000	Shell International Finance BV, 4.000%, 3/21/14		1,057,694
	2,060,000	Simon Property Group LP, 4.200%, 2/1/15		2,116,850
	2,000,000	The Bank of New York Mellon Corp., MTN, 2.950%, 6/18/15		2,023,222
	2,000,000	The Bank of Nova Scotia, 2.375%, 12/17/13		2,037,050
				31,042,227
	*Health Care — 5.5%*
	1,000,000	CVS Caremark Corp., 4.875%, 9/15/14		1,086,029
	1,500,000	McKesson HBOC, Inc., 5.250%, 3/1/13		1,618,915
	1,000,000	Medco Health Solutions, Inc., 6.125%, 3/15/13		1,106,827
	2,000,000	Medtronic, Inc., 3.000%, 3/15/15		2,071,820
	1,000,000	Pfizer, Inc., 4.450%, 3/15/12		1,054,969
	1,200,000	St. Jude Medical, Inc., 3.750%, 7/15/14		1,266,994
	1,000,000	Wyeth, 5.500%, 3/15/13		1,106,075
				9,311,629
	*Industrials — 8.7%*
	1,000,000	3M Co., Series E, 4.375%, 8/15/13		1,091,259
	2,000,000	Air Products & Chemicals, Inc., 4.150%, 2/1/13		2,101,872
	1,500,000	CSX Corp., 6.750%, 3/15/11		1,553,799
	2,000,000	Eaton Corp., 4.900%, 5/15/13		2,178,228
	1,000,000	General Dynamics Corp., 4.500%, 8/15/10		1,004,150
	2,000,000	Harsco Corp., 5.125%, 9/15/13		2,182,526
	1,000,000	ITT Corp., 4.900%, 5/1/14		1,089,689
	1,500,000	Northrop Grumman Corp., 3.700%, 8/1/14		1,573,244
	1,000,000	Raytheon Co., 5.500%, 11/15/12		1,097,752
	1,000,000	Thermo Fisher Scientific, Inc., 3.200%, 5/1/15		1,031,804
				14,904,323


Principal Amount			*Value*

	*Corporate Bonds — (Continued)*
	*Materials — 4.5%*
$	1,000,000	Home Depot, Inc., 5.250%, 12/16/13	$	1,099,547
	1,000,000	Nucor Corp., 4.875%, 10/1/12		1,078,379
	1,000,000	Nucor Corp., 5.000%, 12/1/12		1,086,836
	2,000,000	Potash Corp. of Saskatchewan, Inc., 4.875%, 3/1/13		2,151,124
	2,000,000	PPG Industries, Inc., 5.750%, 3/15/13		2,188,044
				7,603,930
	*Technology — 3.4%*
	1,000,000	Cisco Systems, Inc., 5.250%, 2/22/11		1,027,191
	1,000,000	Dell, Inc., 4.700%, 4/15/13		1,082,810
	1,500,000	Hewlett-Packard Co., 4.250%, 2/24/12		1,580,700
	2,000,000	Oracle Corp., 4.950%, 4/15/13		2,187,694
				5,878,395
	*Telecommunications — 2.6%*
	2,000,000	AT&T, Inc., 4.950%, 1/15/13		2,170,956
	1,000,000	Comcast Corp., 5.500%, 3/15/11		1,029,998
	1,000,000	Verizon Wireless, 7.375%, 11/15/13		1,172,353
				4,373,307
	*Utilities — 4.3%*
	1,500,000	Dominion Resources, Inc., 4.750%, 12/15/10		1,525,968
	1,000,000	Emerson Electric Co., 4.625%, 10/15/12		1,075,614
	1,500,000	FPL Group Capital, Inc., 5.350%, 6/15/13		1,629,924
	1,000,000	Georgia Power Co., 4.000%, 1/15/11		1,017,017
	1,000,000	Indiana Michigan Power Co., Series E, 6.375%, 11/1/12		1,094,556
	1,000,000	Wisconsin Public Service Corp., 4.875%, 12/1/12		1,073,911
				7,416,990
	*Total Corporate Bonds (Cost $105,595,310)*			*110,207,555*
	*U.S. Government Agencies — 30.1%*
	*Federal Farm Credit Bank — 6.0%*
	3,000,000	2.125%, 6/18/12		3,080,862
	2,000,000	1.000%, 6/22/12		2,004,546
	3,000,000	1.875%, 12/7/12		3,064,509
	2,000,000	3.400%, 2/7/13		2,119,332
				10,269,249

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

Semi-Annual Shareholder Report


*Huntington Short/Intermediate Fixed Income Securities Fund*		(Continued)


Principal Amount			*Value*

	*U.S. Government Agencies — (Continued)*
	*Federal Home Loan Bank — 13.8%*
$	2,000,000	1.375%, 8/27/10	$	2,003,588
	2,000,000	3.125%, 6/10/11		2,045,118
	2,000,000	1.625%, 7/27/11		2,024,018
	2,000,000	1.000%, 12/28/11		2,011,904
	2,000,000	1.125%, 5/18/12		2,014,708
	2,000,000	1.875%, 6/20/12		2,043,462
	3,000,000	1.750%, 8/22/12		3,058,548
	1,000,000	1.625%, 9/26/12		1,016,748
	1,000,000	1.750%, 12/14/12		1,019,264
	3,000,000	1.625%, 6/14/13		3,036,984
	1,000,000	4.375%, 9/13/13		1,095,571
	2,000,000	3.250%, 9/12/14		2,110,446
				23,480,359
	*Federal Home Loan Mortgage Corporation — 5.3%*
	3,000,000	3.125%, 10/25/10		3,027,663
	2,000,000	4.750%, 1/18/11		2,048,134
	2,000,000	1.300%, 5/10/12		2,001,920
	2,000,000	3.000%, 11/5/14		2,018,478
				9,096,195
	*Federal National Mortgage Association — 5.0%*
	1,435,000	2.000%, 1/30/12		1,463,607
	2,000,000	1.250%, 6/22/12		2,019,054
	2,000,000	1.125%, 7/30/12		2,013,246
	1,000,000	1.750%, 8/10/12		1,019,493
	2,000,000	1.750%, 12/28/12		2,016,644
				8,532,044
	Total U.S. Government Agencies (Cost $50,594,938)			*51,377,847*
	*U.S. Treasury Obligations — 3.0%*
	*U.S. Treasury Note — 3.0%*
	5,000,000	0.875%, 2/29/12		5,026,750
	Total U.S. Treasury Obligations (Cost $5,004,241)			*5,026,750*


*Shares*		*Value*

*Cash Equivalents — 1.8%*
3,089,077	Huntington Money Market Fund, Interfund Shares, 0.010% (c) (d)	$	3,089,077
*Total Cash Equivalents (Cost $3,089,077)*			*3,089,077*
Total Investments (Cost $164,283,566) — 99.5%			*169,701,229*
*Other Assets in Excess of Liabilities — 0.5%*			*862,700*
*Net Assets — 100.0%*		$	*170,563,929*

(a)

(b)

Variable or Floating Rate Security. Rate disclosed is as of June 30, 2010.

(c)

Rate disclosed is the seven day yield as of June 30, 2010.

(d)

Investment in affiliate.

LLC — Limited Liability Co.

LP — Limited Partnership

MTN — Medium Term Note

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

Semi-Annual Shareholder Report



*Huntington Balanced Allocation Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Equity Mutual Funds¹		63.8%
Fixed Income Mutual Funds¹		34.8%
Cash¹		1.4%
*Total*		*100.0%*

1	Investments in affiliated funds.

Portfolio of Investments (Unaudited)


*Shares*		*Value*

*Mutual Funds — 98.9% (a)*
123,825	Huntington Dividend Capture Fund, Trust Shares	$	938,590
142,113	Huntington Fixed Income Securities Fund, Trust Shares		3,183,327
77,835	Huntington Growth Fund, Trust Shares		1,628,313
100,032	Huntington Income Equity Fund, Trust Shares		1,716,548
134,560	Huntington Intermediate Government Income Fund, Trust Shares		1,481,502
260,809	Huntington International Equity Fund, Trust Shares		2,467,255
217,009	Huntington Macro 100 Fund, Trust Shares		1,744,749
69,719	Huntington Mid Corp America Fund, Trust Shares		895,886
92,557	Huntington Mortgage Securities Fund, Trust Shares		844,116
75,566	Huntington New Economy Fund, Trust Shares *		670,268
42,231	Huntington Short/Intermediate Fixed Income Securities Fund, Trust Shares		846,318
102,364	Huntington Situs Fund, Trust Shares		1,587,662
*Total Mutual Funds (Cost $18,183,617)*			*18,004,534*


*Shares*		*Value*

*Cash Equivalents — 1.4%*
258,794	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)	$	258,794
*Total Cash Equivalents (Cost $258,794)*			*258,794*
Total Investments (Cost $18,442,411) — 100.3%			*18,263,328*
*Liabilities in Excess of Other Assets — (0.3)%*			*(53,654)*
*Net Assets — 100.0%*		$	*18,209,674*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2010.

*	Non-income producing security.

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

Semi-Annual Shareholder Report



*Huntington Conservative Allocation Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Fixed Income Mutual Funds¹		75.5%
Equity Mutual Funds¹		24.5%
*Total*		*100.0%*

1	Investments in affiliated funds.

Portfolio of Investments (Unaudited)


*Shares*		*Value*

*Mutual Funds — 100.3% (a)*
32,882	Huntington Dividend Capture Fund, Trust Shares	$	249,245
213,941	Huntington Fixed Income Securities Fund, Trust Shares		4,792,270
20,747	Huntington Growth Fund, Trust Shares		434,037
26,637	Huntington Income Equity Fund, Trust Shares		457,087
202,703	Huntington Intermediate Government Income Fund, Trust Shares		2,231,757
69,437	Huntington International Equity Fund, Trust Shares		656,873
57,727	Huntington Macro 100 Fund, Trust Shares		464,124
18,535	Huntington Mid Corp America Fund, Trust Shares		238,171
139,198	Huntington Mortgage Securities Fund, Trust Shares		1,269,483
20,144	Huntington New Economy Fund, Trust Shares *		178,681
63,582	Huntington Short/Intermediate Fixed Income Securities Fund, Trust Shares		1,274,186
27,277	Huntington Situs Fund, Trust Shares		423,070
Total Investments (Cost $12,410,241) — 100.3%			*12,668,984*
*Liabilities in Excess of Other Assets — (0.3)%*			*(32,821)*
*Net Assets — 100.0%*		$	*12,636,163*

(a)

Investment in affiliate.

*	Non-income producing security.

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

Semi-Annual Shareholder Report



*Huntington Growth Allocation Fund*		June 30, 2010


*Portfolio of Investments Summary Table*		(Unaudited)


*Asset Allocation*		Percentage of Market Value
Equity Mutual Funds¹		84.2%
Fixed Income Mutual Funds¹		14.5%
Cash¹		1.3%
*Total*		*100.0%*

1	Investments in affiliated funds.

Portfolio of Investments (Unaudited)


*Shares*		*Value*

*Mutual Funds — 98.6% (a)*
133,242	Huntington Dividend Capture Fund, Trust Shares	$	1,009,976
48,216	Huntington Fixed Income Securities Fund, Trust Shares		1,080,036
83,783	Huntington Growth Fund, Trust Shares		1,752,750
107,796	Huntington Income Equity Fund, Trust Shares		1,849,780
45,718	Huntington Intermediate Government Income Fund, Trust Shares		503,356
280,944	Huntington International Equity Fund, Trust Shares		2,657,730
233,793	Huntington Macro 100 Fund, Trust Shares		1,879,697
75,118	Huntington Mid Corp America Fund, Trust Shares		965,268
31,410	Huntington Mortgage Securities Fund, Trust Shares		286,463
81,385	Huntington New Economy Fund, Trust Shares *		721,886
14,287	Huntington Short/Intermediate Fixed Income Securities Fund, Trust Shares		286,319
110,208	Huntington Situs Fund, Trust Shares		1,709,321
*Total Mutual Funds (Cost $14,955,292)*			*14,702,582*


*Shares*		*Value*

*Cash Equivalents — 1.3%*
194,661	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)	$	194,661
*Total Cash Equivalents (Cost $194,661)*			*194,661*
Total Investments (Cost $15,149,953) — 99.9%			*14,897,243*
*Other Assets in Excess of Liabilities — 0.1%*			*16,814*
*Net Assets — 100.0%*		$	*14,914,057*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2010.

*	Non-income producing security.

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

Semi-Annual Shareholder Report

Statements of Assets and Liabilities

June 30, 2010 (Unaudited)

Huntington
Tax-Free
Money Market
Fund

Huntington
Money Market
Fund

Huntington
Ohio Municipal
Money Market
Fund

Huntington
U.S. Treasury
Money Market
Fund

Assets:

Investments, at cost

109,702,737

444,143,767

216,841,453

370,070,086

Investments, at value

109,702,737

414,903,167

216,841,453

249,753,886

Investments in repurchase agreements, at cost

—

29,240,600

—

120,316,200

Total investments

109,702,737

444,143,767

216,841,453

370,070,086

Cash

—

27,092

—

Income receivable

196,586

250,253

492,786

258,529

Receivable for investments sold

—

14,984,688

—

Receivable for shares sold

—

227,954

—

Receivable from Advisor

—

33,311

—

44,910

Receivable from Distributor

905

—

264

10,090

Prepaid expenses and other assets

1,668

4,956

2,947

4,300

Total assets

109,901,896

459,672,021

217,337,450

370,387,941

Liabilities:

Income distribution payable

666

3,234

1,576

3,012

Payable for investments purchased

1,005,810

4,994,565

—

14,990,521

Accrued expenses and other payables

Investment advisor fees

7,557

—

19,290

—

Administration fees

13,727

72,072

36,085

52,304

Custodian fees

4,322

23,184

13,786

16,230

Financial administration fees

724

645

909

533

Distribution services fee

—

1,261

—

Shareholder services fee

4,623

34,251

—

8,788

Transfer agent fees

6,158

21,750

11,631

11,941

Trustees’ fees

1,288

6,610

4,123

4,878

Compliance service fees

957

4,910

3,063

3,626

Other

11,459

64,920

38,644

48,638

Total liabilities

1,057,291

5,227,402

129,107

15,140,471

Net Assets

108,844,605

454,444,619

217,208,343

355,247,470

Net Assets Consist of:

Paid in capital

108,974,274

454,906,430

217,468,705

355,247,469

Accumulated net realized gain (loss) on investments, options and foreign currency transactions

(129,669

)

(461,811

)

(260,362

)

—

Accumulated net investment income

—

Total Net Assets

108,844,605

454,444,619

217,208,343

355,247,470

Net Assets:

Trust Shares

87,000,049

246,470,858

101,863,342

296,342,126

Class A Shares

21,844,556

128,801,904

115,345,001

58,905,344

Interfund Shares

—

79,171,857

—

Shares Outstanding: (unlimited number of shares authorized, no par value)

Trust Shares

87,096,887

246,947,031

102,017,497

296,316,631

Class A Shares

21,876,429

128,775,334

115,443,723

58,933,271

Interfund Shares

—

79,189,536

—

Net Asset Value, Redemption Price and Offering Price Per Share:

Trust Shares

1.00

Class A Shares

1.00

Interfund Shares

—

1.00

—

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

Semi-Annual Shareholder Report

Statements of Assets and Liabilities (Continued)

June 30, 2010 (Unaudited)

Huntington
Dividend
Capture
Fund

Huntington
Global Select
Markets Fund

Huntington
Growth
Fund

Assets:

Investments, at cost

85,861,765

25,116,100

114,907,489

Investments, at value

83,749,894

21,208,783

117,940,693

Investments in affiliated securities, at value

2,893,485

2,823,494

237,622

Total investments

86,643,379

24,032,277

118,178,315

Foreign currencies, at value (Cost $0, $4,398 and $0)

—

4,359

—

Income receivable

180,376

92,072

86,454

Receivable for investments sold

557,958

—

Receivable for shares sold

132,949

—

82,480

Tax reclaims receivable

—

234

—

Prepaid expenses and other assets

1,376

27,775

1,930

Total assets

87,516,038

24,156,717

118,349,179

Liabilities:

Options written, at value (premium received $0, $26,243 and $0)

—

36,075

—

Cash overdraft

1,372

—

34,634

Payable for investments purchased

704,439

1,691,405

—

Payable for shares redeemed

31,815

1,530

103,040

Accrued expenses and other payables

Investment advisor fees

54,316

5,883

61,854

Administration fees

13,057

3,057

18,510

Custodian fees

3,103

1,762

6,558

Financial administration fees

586

2,031

807

Distribution services fee

5,282

105

2,650

Shareholder services fee

18,116

4,186

25,783

Transfer agent fees

13,028

1,413

17,514

Trustees’ fees

938

1,951

Compliance service fees

697

1,449

Other

7,924

—

16,356

Total liabilities

854,673

1,747,551

291,106

Net Assets

86,661,365

22,409,166

118,058,073

Net Assets Consist of:

Paid in capital

122,799,914

23,441,198

125,845,752

Net unrealized appreciation (depreciation) of investments, options and translations of assets and liabilities in foreign currency

781,614

(1,094,249

)

3,270,826

Accumulated net realized gain (loss) on investments, options and foreign currency transactions

(36,917,121

)

44,589

(10,744,627

)

Accumulated net investment income (loss)

(3,042

)

17,628

(313,878

)

Total Net Assets

86,661,365

22,409,166

118,058,073

Net Assets:

Trust Shares

74,495,578

21,899,846

110,677,546

Class A Shares

12,165,787

509,320

7,380,527

Shares Outstanding: (unlimited number of shares authorized, no par value)

Trust Shares

9,823,095

2,322,604

5,291,716

Class A Shares

1,604,766

54,090

362,441

Net Asset Value, Redemption Price and Offering Price Per Share:

Trust Shares

7.58

9.43

20.92

Class A Shares

7.58

9.42

20.36

Offering Price Per Share (100%/(100%-maximum sales charge) of net asset value adjusted to the nearest cent) per share:

Class A Shares

7.96

9.89

21.38

Maximum Sales Charge:

Class A Shares

4.75

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

Semi-Annual Shareholder Report

Statements of Assets and Liabilities (Continued)

June 30, 2010 (Unaudited)

Huntington
Income
Equity
Fund

Huntington
International
Equity
Fund

Huntington
Macro 100
Fund

Assets:

Investments, at cost

95,701,555

260,059,082

36,546,084

Investments, at value

94,375,137

248,571,157

32,851,556

Investments in affiliated securities, at value

2,002,587

15,464,486

4,072,653

Total investments

96,377,724

264,035,643

36,924,209

Foreign currencies, at value (Cost $0, $121,437 and $0)

—

121,639

—

Income receivable

283,506

892,142

37,444

Receivable for shares sold

73,600

80,713

52,560

Tax reclaims receivable

—

359,125

—

Prepaid expenses and other assets

1,531

3,013

7,296

Total assets

96,736,361

265,492,275

37,021,509

Liabilities:

Options written, at value (premium received $144,047, $0 and $0)

29,275

—

Cash overdraft

790

—

Payable for investments purchased

—

93,941

71,360

Payable for shares redeemed

29,165

1,232,938

4,614

Accrued expenses and other payables

Investment advisor fees

49,593

227,401

23,760

Administration fees

14,880

36,101

5,727

Custodian fees

4,261

21,707

309

Financial administration fees

554

6,033

160

Distribution services fee

2,321

2,541

753

Shareholder services fee

20,725

56,593

7,947

Transfer agent fees

11,920

18,096

2,073

Trustees’ fees

1,281

4,630

Compliance service fees

952

3,441

Other

8,563

37,310

—

Total liabilities

174,280

1,740,732

116,867

Net Assets

96,562,081

263,751,543

36,904,642

Net Assets Consist of:

Paid in capital

123,925,828

282,442,398

44,931,755

Net unrealized appreciation of investments, options and translations of assets and liabilities in foreign currency

790,941

3,970,605

378,125

Accumulated net realized loss on investments, options and foreign currency transactions

(28,172,587

)

(24,426,547

)

(8,401,121

)

Accumulated net investment income (loss)

17,899

1,765,087

(4,117

)

Total Net Assets

96,562,081

263,751,543

36,904,642

Net Assets:

Trust Shares

91,040,211

255,767,029

35,308,770

Class A Shares

5,521,870

7,984,514

1,595,872

Shares Outstanding: (unlimited number of shares authorized, no par value)

Trust Shares

5,305,256

27,041,186

4,390,649

Class A Shares

321,683

850,569

200,783

Net Asset Value, Redemption Price and Offering Price Per Share:

Trust Shares

17.16

9.46

8.04

Class A Shares

17.17

9.39

7.95

Offering Price Per Share (100%/(100%-maximum sales charge) of net asset value adjusted to the nearest cent) per share:

Class A Shares

18.03

9.86

8.35

Maximum Sales Charge:

Class A Shares

4.75

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

Semi-Annual Shareholder Report

Statements of Assets and Liabilities (Continued)

June 30, 2010 (Unaudited)

Huntington
Mid Corp
America
Fund

Huntington
New Economy
Fund

Huntington
Real
Strategies
Fund

Assets:

Investments, at cost

97,658,558

52,464,608

93,620,515

Investments, at value

125,536,337

47,408,180

69,046,517

Investments in affiliated securities, at value

6,360,313

3,179,379

6,549,842

Total investments

131,896,650

50,587,559

75,596,359

Cash

—

133

3,500

Income receivable

124,198

15,109

67,980

Receivable for shares sold

395,850

95,102

232,635

Tax reclaims receivable

—

175

Prepaid expenses and other assets

1,707

1,108

1,537

Total assets

132,418,405

50,699,011

75,902,186

Liabilities:

Options written, at value (premium received $-, $1,340,252 and $1,267,701)

—

970,830

2,020,775

Cash overdraft

378

—

Payable for shares redeemed

729,544

48,449

61,797

Accrued expenses and other payables

Investment advisor fees

86,772

37,094

47,272

Administration fees

20,848

7,862

11,364

Custodian fees

5,928

1,409

1,068

Financial administration fees

837

428

219

Distribution services fee

2,794

1,642

420

Shareholder services fee

28,952

10,917

15,756

Transfer agent fees

14,175

7,051

2,479

Trustees’ fees

1,814

434

324

Compliance service fees

1,348

323

241

Other

15,347

2,969

—

Total liabilities

908,737

1,089,408

2,161,715

Net Assets

131,509,668

49,609,603

73,740,471

Net Assets Consist of:

Paid in capital

92,423,584

77,472,713

110,448,673

Net unrealized appreciation (depreciation) of investments and options

34,238,092

(1,507,627

)

(18,777,230

)

Accumulated net realized gain (loss) on investments and options

4,866,695

(26,119,613

)

(17,921,326

)

Accumulated net investment loss

(18,703

)

(235,870

)

(9,646

)

Total Net Assets

131,509,668

49,609,603

73,740,471

Net Assets:

Trust Shares

125,036,796

44,915,447

72,248,131

Class A Shares

6,472,872

4,694,156

1,492,340

Shares Outstanding: (unlimited number of shares authorized, no par value)

Trust Shares

9,728,452

5,063,729

12,383,244

Class A Shares

515,218

543,242

255,681

Net Asset Value, Redemption Price and Offering Price Per Share:

Trust Shares

12.85

8.87

5.83

Class A Shares

12.56

8.64

5.84

Offering Price Per Share (100%/(100%-maximum sales charge) of net asset value adjusted to the nearest cent) per share:

Class A Shares

13.19

9.07

6.13

Maximum Sales Charge:

Class A Shares

4.75

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

Semi-Annual Shareholder Report

Statements of Assets and Liabilities (Continued)

June 30, 2010 (Unaudited)

Huntington
Rotating
Markets
Fund

Huntington
Situs
Fund

Huntington
Technical
Opportunities
Fund

Assets:

Investments, at cost

37,391,152

150,459,369

9,736,143

Investments, at value

32,287,869

154,267,393

9,004,223

Investments in affiliated securities, at value

2,685,611

10,265,167

248,999

Total investments

34,973,480

164,532,560

9,253,222

Foreign currencies, at value (Cost $-, $3,135 and $-)

—

3,169

—

Income receivable

82,484

108,432

6,478

Receivable for shares sold

26,576

190,949

—

Tax reclaims receivable

—

5,937

—

Prepaid expenses and other assets

2,007

1,788

14,890

Total assets

35,084,547

164,842,835

9,274,590

Liabilities:

Options written, at value (premium received $-, $257,193 and $-)

—

64,950

—

Cash overdraft

—

8,466

—

Payable for shares redeemed

29,461

73,408

—

Accrued expenses and other payables

Investment advisor fees

15,623

104,574

6,022

Administration fees

5,616

25,138

1,446

Custodian fees

594

7,444

162

Financial administration fees

154

5,386

204

Distribution services fee

681

7,327

Shareholder services fee

7,808

34,857

2,007

Transfer agent fees

2,370

16,843

2,301

Trustees’ fees

179

2,157

Compliance service fees

133

1,603

Other

—

19,185

—

Total liabilities

62,619

371,338

12,253

Net Assets

35,021,928

164,471,497

9,262,337

Net Assets Consist of:

Paid in capital

40,396,625

160,291,372

11,925,726

Net unrealized appreciation (depreciation) of investments, options and translations of assets and liabilities in foreign currency

(2,417,672

)

14,264,876

(482,921

)

Accumulated net realized loss on investments, options and foreign currency transactions

(2,971,687

)

(9,606,783

)

(2,157,971

)

Accumulated net investment income (loss)

14,662

(477,968

)

(22,497

)

Total Net Assets

35,021,928

164,471,497

9,262,337

Net Assets:

Trust Shares

32,772,620

145,532,784

9,172,573

Class A Shares

2,249,308

18,938,713

89,764

Shares Outstanding: (unlimited number of shares authorized, no par value)

Trust Shares

3,579,324

9,385,240

1,332,395

Class A Shares

247,052

1,246,670

13,095

Net Asset Value, Redemption Price and Offering Price Per Share:

Trust Shares

9.16

15.51

6.88

Class A Shares

9.10

15.19

6.86

Offering Price Per Share (100%/(100%-maximum sales charge) of net asset value adjusted to the nearest cent) per share:

Class A Shares

9.55

15.95

7.20

Maximum Sales Charge:

Class A Shares

4.75

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

Semi-Annual Shareholder Report

Statements of Assets and Liabilities (Continued)

June 30, 2010 (Unaudited)

Huntington
Fixed Income
Securities
Fund

Huntington
Intermediate
Government
Income Fund

Huntington
Mortgage
Securities
Fund

Assets:

Investments, at cost

250,693,570

108,789,069

103,655,157

Investments, at value

260,935,234

112,243,329

105,470,754

Investments in affiliated securities, at value

7,536,989

3,129,339

3,080,282

Total investments

268,472,223

115,372,668

108,551,036

Cash

16,376

1,535

—

Income receivable

2,941,086

654,173

415,091

Receivable for investments sold

2,104,000

—

Receivable for shares sold

810,049

326,741

117,492

Prepaid expenses and other assets

2,488

1,675

1,567

Total assets

274,346,222

116,356,792

109,085,186

Liabilities:

Income distribution payable

380,920

127,333

—

Payable for investments purchased

5,040,510

—

43,030

Payable for shares redeemed

741,175

227,826

298,360

Accrued expenses and other payables

Investment advisor fees

108,326

47,321

45,135

Administration fees

39,040

17,025

16,250

Custodian fees

11,608

4,282

3,421

Financial administration fees

2,552

1,856

1,892

Distribution services fee

2,018

1,071

827

Shareholder services fee

54,157

23,648

22,595

Transfer agent fees

13,877

7,786

6,594

Trustees’ fees

3,493

1,277

1,028

Compliance service fees

2,595

948

764

Other

26,919

9,455

6,278

Total liabilities

6,427,190

469,828

446,174

Net Assets

267,919,032

115,886,964

108,639,012

Net Assets Consist of:

Paid in capital

250,323,813

108,982,569

103,968,259

Net unrealized appreciation of investments

17,778,653

6,583,599

4,895,879

Accumulated net realized gain (loss) on investments

(169,610

)

352,370

(775,854

)

Accumulated net investment income (loss)

(13,824

)

(31,574

)

550,728

Total Net Assets

267,919,032

115,886,964

108,639,012

Net Assets:

Trust Shares

261,334,564

112,193,183

105,579,728

Class A Shares

6,584,468

3,693,781

3,059,284

Shares Outstanding: (unlimited number of shares authorized, no par value)

Trust Shares

11,667,805

10,192,250

11,577,399

Class A Shares

293,985

335,595

333,486

Net Asset Value, Redemption Price and Offering Price Per Share:

Trust Shares

22.40

11.01

9.12

Class A Shares

22.40

11.01

9.17

Offering Price Per Share (100%/(100%-maximum sales charge) of net asset value adjusted to the nearest cent) per share:

Class A Shares

23.27

11.44

9.53

Maximum Sales Charge:

Class A Shares

3.75

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

Semi-Annual Shareholder Report

Statements of Assets and Liabilities (Continued)

June 30, 2010 (Unaudited)


	Huntington Ohio Tax-Free Fund			Huntington Short/Intermediate Fixed Income Fund
*Assets:*
Investments, at cost	$	49,435,234		$	164,283,566
Investments, at value	$	50,662,732		$	166,612,152
Investments in affiliated securities, at value		—			3,089,077
Total investments		50,662,732			169,701,229
Cash		1,059			—
Income receivable		371,735			1,420,827
Receivable for shares sold		9,862			250,525
Prepaid expenses and other assets		2,126			1,672
Total assets		51,047,514			171,374,253
*Liabilities:*
Income distribution payable		82,448			195,553
Payable for investments purchased		431,699			—
Payable for shares redeemed		34			452,379
Accrued expenses and other payables
Investment advisor fees		20,475			68,948
Administration fees		7,378			24,869
Custodian fees		702			6,410
Financial administration fees		1,323			2,107
Distribution services fee		954			845
Shareholder services fee		10,221			34,474
Transfer agent fees		2,464			7,024
Trustees’ fees		215			1,925
Compliance service fees		160			1,430
Other		—			14,360
Total liabilities		558,073			810,324
*Net Assets*	$	50,489,441		$	170,563,929

*Net Assets Consist of:*
Paid in capital	$	49,281,944		$	168,002,958
Net unrealized appreciation of investments		1,227,498			5,417,663
Accumulated net realized loss on investments		(20,002	)		(2,856,692	)
Accumulated net investment income		1			—
*Total Net Assets*	$	50,489,441		$	170,563,929

*Net Assets:*
Trust Shares	$	47,447,619		$	164,295,190
Class A Shares	$	3,041,822		$	6,268,739
*Shares Outstanding: (unlimited number of shares authorized, no par value)*
Trust Shares		2,221,489			8,197,168
Class A Shares		142,503			312,724
*Net Asset Value, Redemption Price and Offering Price Per Share:*
Trust Shares	$	21.36		$	20.04
Class A Shares	$	21.35		$	20.05
*Offering Price Per Share* (100%/(100%-maximum sales charge) of net asset value adjusted to the nearest cent) per share:
Class A Shares	$	22.18		$	20.36
*Maximum Sales Charge:*
Class A Shares		3.75	%		1.50	%

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

Semi-Annual Shareholder Report

Statements of Assets and Liabilities (Continued)

June 30, 2010 (Unaudited)

Huntington
Balanced
Allocation
Fund

Huntington
Conservative
Allocation
Fund

Huntington
Growth
Allocation
Fund

Assets:

Investments, at cost

18,442,411

12,410,241

15,149,953

Investments in affiliated securities, at value

18,263,328

12,668,984

14,897,243

Cash

3,532

—

1,443

Income receivable

12,875

19,241

4,508

Receivable for shares sold

21,161

617

23,807

Receivable from Advisor

—

1,825

Prepaid expenses and other assets

5,646

4,459

4,701

Total assets

18,306,542

12,693,301

14,933,527

Liabilities:

Cash overdraft

—

46,914

—

Income distribution payable

915

—

Payable for shares redeemed

81,332

665

9,623

Accrued expenses and other payables

Investment adviser fees

1,512

1,336

—

Administration fees

5,312

1,065

2,750

Custodian fees

164

169

147

Financial administration fees

306

396

299

Distribution services fee

5,755

4,531

5,121

Transfer agent fees

1,340

1,764

1,323

Trustees’ fees

133

132

119

Compliance service fees

Total liabilities

96,868

57,138

19,470

Net Assets

18,209,674

12,636,163

14,914,057

Net Assets Consist of:

Paid in capital

18,352,141

12,331,463

15,071,029

Net unrealized appreciation (depreciation) of investments

(179,083

)

258,743

(252,710

)

Accumulated net realized gain on investment transactions

36,496

45,622

64,185

Accumulated net investment income

120

335

31,553

Total Net Assets

18,209,674

12,636,163

14,914,057

Class A Shares

1,769,236

1,222,815

1,462,823

Net Asset Value, Redemption Price and Offering Price Per Share:

Class A Shares

10.29

10.33

10.20

Offering Price per Share (100%/(100%-maximum sales charge of net asset value adjusted to the nearest cent) per share:

10.80

10.85

10.71

Maximum Sales Charge

Class A Shares

4.75

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

Semi-Annual Shareholder Report

Statements of Operations

Six Months Ended June 30, 2010 (Unaudited)

Huntington
Tax-Free
Money Market
Fund

Huntington
Money Market
Fund

Huntington Ohio
Municipal Money
Market Fund

Huntington
U.S. Treasury
Money Market
Fund

Investment Income:

Dividend income

3,628

88,232

5,688

Interest income

229,003

603,935

566,108

268,109

Total investment income

232,631

692,167

571,796

268,154

Expenses:

Investment advisor fees

131,934

713,122

372,554

357,081

Administration fees

80,128

433,415

226,265

325,299

Custodian fees

12,504

65,318

33,618

47,611

Transfer and dividend disbursing agent fees and expenses

21,398

76,267

35,995

44,487

Trustees’ fees

4,776

23,233

12,724

17,196

Auditing fees

10,799

53,817

28,817

40,550

Legal fees

4,702

25,302

11,031

20,260

Financial administration fees

2,482

2,059

2,616

1,747

Distribution services fee—Class A Shares

24,241

162,717

142,507

68,786

Distribution services fee—Class B Shares(a)

—

782

—

Shareholder services fee—Trust Shares

85,703

320,943

167,954

377,561

Shareholder services fee—Class A Shares

24,241

162,717

142,507

68,786

Shareholder services fee—Class B Shares(a)

—

260

—

Share registration costs

10,870

16,028

10,562

13,020

Printing and postage

3,885

19,360

10,367

14,588

Insurance premiums

3,251

9,661

5,744

8,382

Compliance service fees

1,864

9,291

4,975

7,000

Other

7,078

33,222

17,867

24,828

Total expenses

429,856

2,127,514

1,226,103

1,437,182

Investment advisory fees waived

(67,343

)

(713,122

)

(213,593

)

(357,081

)

Shareholder servicing fees waived

(109,961

)

(320,937

)

(310,454

)

(446,339

)

Distribution fees waived

(24,241

)

(1,042

)

(142,507

)

(68,786

)

Reimbursements from Advisor

—

(424,321

)

—

(315,332

)

Net expenses

228,311

668,092

559,549

249,644

Net investment income

4,320

24,075

12,247

18,510

Net Realized/Unrealized Gain (Loss) on Investments:

Net realized gain (loss) on investment transactions

—

(9,773

)

(20,757

)

—

Net realized gain (loss) on investments

—

(9,773

)

(20,757

)

—

Net realized and unrealized gain (loss) on investments

—

(9,773

)

(20,757

)

—

Change in net assets resulting from operations

4,320

14,302

(8,510

)

18,510

(a)

Effective June 29, 2010, Class B shares were converted to Class A shares.

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

Semi-Annual Shareholder Report

Statements of Operations (Continued)

Six Months Ended June 30, 2010 (Unaudited)

Huntington
Dividend
Capture
Fund

Huntington
Global Select
Markets Fund

Huntington
Growth
Fund

Investment Income:

Dividend income

2,099,196

135,895

541,027

Dividend income from affiliated securities

115

297

Interest income

—

29,195

Foreign dividend taxes withheld

—

(7,462

)

—

Total investment income

2,099,256

157,743

541,421

Expenses:

Investment advisor fees

331,037

73,605

408,010

Administration fees

80,420

13,411

123,899

Custodian fees

11,503

12,581

18,719

Transfer and dividend disbursing agent fees and expenses

49,900

11,160

54,326

Trustees’ fees

4,286

437

7,074

Auditing fees

9,929

1,272

16,062

Legal fees

3,054

4,318

5,727

Financial administration fees

2,485

15,001

2,611

Distribution services fee—Class A Shares

7,100

472

7,296

Distribution services fee—Class B Shares(a)

26,936

—

9,417

Shareholder services fee—Trust Shares

94,267

17,929

159,568

Shareholder services fee—Class A Shares

7,100

472

7,296

Shareholder services fee—Class B Shares(a)

8,979

—

3,139

Share registration costs

16,321

15,225

14,585

Printing and postage

3,572

457

5,778

Insurance premiums

2,682

—

3,762

Compliance service fees

1,714

220

2,773

Other

3,780

567

5,661

Total expenses

665,065

167,127

855,703

Reimbursements from Advisor

—

(27,012

)

—

Net expenses

665,065

140,115

855,703

Net investment income (loss)

1,434,191

17,628

(314,282

)

Net Realized/Unrealized Gain (Loss) on Investments, Options and Foreign Currency Transactions:

Net realized gain (loss) on investment transactions

(353,745

)

26,313

15,422,715

Net realized gain on option transactions

45,345

51,649

111,105

Net realized gain (loss) on foreign currency transactions

—

(33,373

)

—

Net realized gain (loss) on investments, options and translation of assets and liabilities in foreign currency transactions

(308,400

)

44,589

15,533,820

Net change in unrealized appreciation/depreciation of investments, options and translation of assets and liabilities in foreign currency

(2,693,424

)

(1,094,249

)

(28,024,857

)

Net realized and unrealized gain (loss) on investments, options and foreign currency transactions

(3,001,824

)

(1,049,660

)

(12,491,037

)

Change in net assets resulting from operations

(1,567,633

)

(1,032,032

)

(12,805,319

)

(a)

Effective June 29, 2010, Class B shares were converted to Class A shares.

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

Semi-Annual Shareholder Report

Statements of Operations (Continued)

Six Months Ended June 30, 2010 (Unaudited)

Huntington
Income Equity
Fund

Huntington
International
Equity
Fund

Huntington
Macro 100
Fund

Investment Income:

Dividend income

2,173,547

5,033,943

251,581

Dividend income from affiliated securities

111

876

154

Interest income

—

Foreign dividend taxes withheld

—

(352,867

)

—

Total investment income

2,173,658

4,681,952

251,773

Expenses:

Investment advisor fees

319,601

1,577,554

126,054

Administration fees

97,052

287,431

30,623

Custodian fees

13,986

60,667

3,674

Transfer and dividend disbursing agent fees and expenses

41,829

59,613

25,799

Trustees’ fees

5,238

15,881

1,359

Auditing fees

12,044

36,710

3,182

Legal fees

3,801

10,911

908

Financial administration fees

2,074

16,565

2,177

Distribution services fee—Class A Shares

4,338

8,588

1,040

Distribution services fee—Class B Shares(a)

9,916

8,144

3,412

Shareholder services fee—Trust Shares

125,523

383,084

39,841

Shareholder services fee—Class A Shares

4,338

8,588

1,040

Shareholder services fee—Class B Shares(a)

3,305

2,715

1,137

Share registration costs

11,629

16,835

12,794

Printing and postage

4,333

13,206

1,145

Insurance premiums

2,985

5,876

1,808

Compliance service fees

2,079

6,338

549

Other

4,413

11,868

1,659

Total expenses

668,484

2,530,574

258,201

Net investment income (loss)

1,505,174

2,151,378

(6,428

)

Net Realized/Unrealized Gain (Loss) on Investments, Options and Foreign Currency Transactions:

Net realized gain (loss) on investment transactions

1,063,944

(3,263,535

)

59,055

Net realized gain (loss) on option transactions

(61,632

)

—

8,174

Net realized gain (loss) on foreign currency transactions

—

(186,942

)

—

Net realized gain (loss) on investments, options and translation of assets and liabilities in foreign currency transactions

1,002,312

(3,450,477

)

67,229

Net change in unrealized appreciation/depreciation of investments, options and translation of assets and liabilities in foreign currency

(9,079,339

)

(39,558,232

)

(2,069,256

)

Net realized and unrealized gain (loss) on investments, options and foreign currency transactions

(8,077,027

)

(43,008,709

)

(2,002,027

)

Change in net assets resulting from operations

(6,571,853

)

(40,857,331

)

(2,008,455

)

(a)

Effective June 29, 2010, Class B shares were converted to Class A shares.

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

Semi-Annual Shareholder Report

Statements of Operations (Continued)

Six Months Ended June 30, 2010 (Unaudited)

Huntington
Mid Corp
America
Fund

Huntington
New
Economy
Fund

Huntington
Real
Strategies
Fund

Investment Income:

Dividend income

971,596

186,972

707,878

Dividend income from affiliated securities

319

221

376

Total investment income

971,915

187,193

708,254

Expenses:

Investment advisor fees

533,855

223,373

288,463

Administration fees

129,692

47,881

70,078

Custodian fees

18,571

6,804

9,435

Transfer and dividend disbursing agent fees and expenses

47,521

34,978

24,241

Trustees’ fees

6,942

2,563

3,466

Auditing fees

16,162

5,962

8,113

Legal fees

4,846

1,868

2,242

Financial administration fees

3,013

2,350

2,171

Distribution services fee—Class A Shares

4,599

4,614

1,601

Distribution services fee—Class B Shares(a)

13,448

6,261

1,112

Shareholder services fee—Trust Shares

168,870

58,996

94,182

Shareholder services fee—Class A Shares

4,599

4,614

1,601

Shareholder services fee—Class B Shares(a)

4,483

2,087

371

Share registration costs

16,420

14,963

14,411

Printing and postage

5,814

2,145

2,919

Insurance premiums

3,328

2,159

2,380

Compliance service fees

2,790

1,029

1,401

Other

5,665

2,587

2,558

Total expenses

990,618

425,234

530,745

Net investment income (loss)

(18,703

)

(238,041

)

177,509

Net Realized/Unrealized Gain (Loss) on Investments and Options:

Net realized gain (loss) on investment transactions

5,282,249

(133,192

)

(1,122,412

)

Net realized gain (loss) on option transactions

136,715

(67,180

)

575,145

Net realized gain (loss) on investments and options

5,418,964

(200,372

)

(547,267

)

Net change in unrealized appreciation/depreciation of investments and options

(7,882,135

)

(2,220,929

)

(7,203,921

)

Net realized and unrealized gain (loss) on investments and options

(2,463,171

)

(2,421,301

)

(7,751,188

)

Change in net assets resulting from operations

(2,481,874

)

(2,659,342

)

(7,573,679

)

(a)

Effective June 29, 2010, Class B shares were converted to Class A shares.

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

Semi-Annual Shareholder Report

Statements of Operations (Continued)

Six Months Ended June 30, 2010 (Unaudited)

Huntington
Rotating
Markets
Fund

Huntington
Situs Fund

Huntington
Technical
Opportunities
Fund

Investment Income:

Dividend income

269,870

643,324

66,793

Dividend income from affiliated securities

140

209

Foreign dividend taxes withheld

—

Total investment income

270,010

643,533

66,819

Expenses:

Investment advisor fees

104,325

635,464

35,995

Administration fees

38,016

154,376

8,745

Custodian fees

5,479

21,352

1,048

Transfer and dividend disbursing agent fees and expenses

23,683

51,145

15,523

Trustees’ fees

2,060

7,434

400

Auditing fees

4,748

17,433

924

Legal fees

1,439

4,909

302

Financial administration fees

1,603

14,950

1,472

Distribution services fee—Class A Shares

2,422

21,811

Distribution services fee—Class B Shares(a)

1,538

12,210

Shareholder services fee—Trust Shares

49,227

185,940

11,905

Shareholder services fee—Class A Shares

2,422

21,811

Shareholder services fee—Class B Shares(a)

513

4,070

Share registration costs

13,820

17,233

12,854

Printing and postage

1,708

6,271

332

Insurance premiums

2,024

3,484

1,245

Compliance service fees

820

3,010

159

Other

2,198

5,973

951

Total expenses

258,045

1,188,876

92,055

Net investment income (loss)

11,965

(545,343

)

(25,236

)

Net Realized/Unrealized Gain (Loss) on Investments, Options and Foreign Currency Transactions:

Net realized gain on investment transactions

4,618,666

6,252,376

707,406

Net realized gain on option transactions

—

825,769

—

Net realized loss on foreign currency transactions

—

(4,418

)

—

Net realized gain (loss) on investments, options and translation of assets and liabilities in foreign currency transactions

4,618,666

7,073,727

707,406

Net change in unrealized appreciation/depreciation of investments, options and translation of assets and liabilities in foreign currency

(8,585,789

)

(11,952,557

)

(1,743,941

)

Net realized and unrealized gain (loss) on investments, options and foreign currency transactions

(3,967,123

)

(4,878,830

)

(1,036,535

)

Change in net assets resulting from operations

(3,955,158

)

(5,424,173

)

(1,061,771

)

(a)

Effective June 29, 2010, Class B shares were converted to Class A shares.

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

Semi-Annual Shareholder Report

Statements of Operations (Continued)

Six Months Ended June 30, 2010 (Unaudited)

Huntington
Fixed Income
Securities
Fund

Huntington
Intermediate
Government
Income
Fund

Huntington
Mortgage
Securities
Fund

Huntington
Ohio Tax-Free
Fund

Huntington
Short/Intermediate
Fixed Income
Fund

Investment Income:

Dividend income

27,712

—

166,421

701

Dividend income from affiliated securities

346

183

161

—

247

Interest income

5,206,071

2,259,602

2,046,784

849,871

2,562,157

Total investment income

5,234,129

2,259,785

2,213,366

850,572

2,562,418

Expenses:

Investment advisor fees

617,226

280,165

263,391

116,342

393,868

Administration fees

224,919

102,093

95,980

42,395

143,526

Custodian fees

32,090

15,187

11,799

5,879

20,492

Transfer and dividend disbursing agent fees and expenses

45,525

31,471

25,640

22,540

27,189

Trustees’ fees

11,831

5,639

4,362

2,212

7,524

Auditing fees

27,552

12,979

10,120

5,138

17,587

Legal fees

8,988

4,734

3,436

1,703

5,048

Financial administration fees

8,136

7,616

7,564

12,823

7,762

Distribution services fee—Class A Shares

4,934

3,039

3,223

2,432

2,095

Distribution services fee—Class B Shares(a)

7,092

3,279

2,037

3,420

—

Shareholder services fee—Trust Shares

301,315

135,951

127,793

54,599

194,838

Shareholder services fee—Class A Shares

4,934

3,039

3,223

2,432

2,095

Shareholder services fee—Class B Shares(a)

2,364

1,093

679

1,140

—

Share registration costs

14,495

16,229

12,758

14,715

12,261

Printing and postage

9,911

4,669

3,640

1,848

6,327

Insurance premiums

4,851

3,265

3,055

2,087

3,260

Compliance service fees

4,756

2,241

1,747

887

3,036

Other

9,134

4,744

16,555

2,336

5,858

Total expenses

1,340,053

637,433

597,002

294,928

852,766

Net investment income

3,894,076

1,622,352

1,616,364

555,644

1,709,652

Net Realized/Unrealized Gain (Loss) on Investments, Options and Foreign Currency Transactions:

Net realized gain on investment transactions

1,083,650

83,905

2,590

73,257

593,344

Net realized gain on foreign currency transactions

—

Net realized gain on investments and translation of assets and liabilities in foreign currency transactions

1,083,650

83,905

2,590

73,257

593,344

Net change in unrealized appreciation/depreciation of investments and translation of assets and liabilities in foreign currency

7,886,992

2,705,431

1,783,806

294,291

1,476,677

Net realized and unrealized gain (loss) on investments and foreign currency transactions

8,970,642

2,789,336

1,786,396

367,548

2,070,021

Change in net assets resulting from operations

12,864,718

4,411,688

3,402,760

923,192

3,779,673

(a)

Effective June 29, 2010, Class B shares were converted to Class A shares.

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

Semi-Annual Shareholder Report

Statements of Operations (Continued)

Six Months Ended June 30, 2010 (Unaudited)

Huntington
Balanced
Allocation
Fund

Huntington
Conservative
Allocation
Fund

Huntington
Growth
Allocation
Fund

Investment Income:

Dividend income from affiliated securities

114,408

135,933

71,303

Total investment income

114,408

135,933

71,303

Expenses:

Investment advisor fees

8,002

5,981

7,123

Administration fees

14,580

10,897

12,978

Custodian fees

692

559

637

Transfer and dividend disbursing agent fees and expenses

6,913

6,511

6,801

Trustees’ fees

660

534

615

Auditing fees

1,571

1,248

1,453

Legal fees

468

448

461

Financial administration fees

1,414

1,459

1,430

Distribution services fee—Class A Shares

20,005

14,952

17,808

Share registration costs

2,590

2,625

2,597

Printing and postage

565

449

523

Insurance premiums

1,433

1,422

1,439

Compliance service fees

271

215

251

Other

708

621

675

Total expenses

59,872

47,921

54,791

Investment advisory fees waived

(9,361

)

(2,543

)

(15,007

)

Net expenses

50,511

45,378

39,784

Net investment income

63,897

90,555

31,519

Net Realized/Unrealized Gain (Loss) on Investment Transactions:

Net realized gain (loss) on investment transactions of affiliates

(36,077

)

18,703

(30,599

)

Net realized gain (loss) on investments

(36,077

)

18,703

(30,599

)

Net change in unrealized appreciation/depreciation of investments

(785,189

)

(18,641

)

(1,013,184

)

Net realized and unrealized gain (loss) on investment transactions

(821,266

)

(1,043,783

)

Change in net assets resulting from operations

(757,369

)

90,617

(1,012,264

)

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

Semi-Annual Shareholder Report

Statements of Changes in Net Assets


	Huntington Tax-Free Money Market Fund
	Six Months Ended June 30, 2010			Year Ended December 31, 2009
	*(Unaudited)*
*Increase (Decrease) in Net Assets:*
*Operations—*
Net investment income	$	4,320		$	106,763
Net realized gain (loss) on investments		—			(55,252	)
Change in net assets resulting from operations		4,320			51,511
*Distributions to Shareholders—*
From and/or in excess of net investment income:
Trust Shares		(3,370	)		(95,705	)
Class A Shares		(950	)		(11,058	)
Class B Shares		—			—
Interfund Shares		—			—
Change in net assets resulting from distributions to shareholders		(4,320	)		(106,763	)
Change in net assets resulting from capital transactions		10,330,921			(84,758,287	)
Change in net assets		10,330,921			(84,813,539	)
*Net Assets:*
Beginning of period		98,513,684			183,327,223
End of period	$	108,844,605		$	98,513,684

Accumulated net investment income included in net assets at end of period	$	—		$	—
*Capital Transactions:*
Trust Shares
Shares sold	$	57,863,232		$	138,617,223
Dividends reinvested		—			—
Shares redeemed		(47,668,275	)		(206,636,768	)
Total Trust Shares		10,194,957			(68,019,545	)
Class A Shares
Shares sold		32,239,585			142,937,621
Shares sold in class consolidation(a)		—			—
Dividends reinvested		362			6,904
Shares redeemed		(32,103,983	)		(159,683,267	)
Total Class A Shares		135,964			(16,738,742	)
Class B Shares(a)
Shares sold		—			—
Dividends reinvested		—			—
Shares redeemed in class consolidation		—			—
Shares redeemed		—			—
Total Class B Shares		—			—
Interfund Shares
Shares sold		—			—
Shares redeemed		—			—
Total Interfund Shares		—			—
Net change resulting from capital transactions	$	10,330,921		$	(84,758,287	)
*Share Transactions:*
Trust Shares
Shares sold		57,863,232			138,617,223
Dividends reinvested		—			—
Shares redeemed		(47,668,275	)		(206,636,768	)
Total Trust Shares		10,194,957			(68,019,545	)
Class A Shares
Shares sold		32,239,585			142,937,621
Shares sold in class consolidation(a)		—			—
Dividends reinvested		362			6,904
Shares redeemed		(32,103,983	)		(159,683,267	)
Total Class A Shares		135,964			(16,738,742	)
Class B Shares(a)
Shares sold		—			—
Dividends reinvested		—			—
Shares redeemed in class consolidation		—			—
Shares redeemed		—			—
Total Class B Shares		—			—
Interfund Shares
Shares sold		—			—
Shares redeemed		—			—
Total Interfund Shares		—			—
Net change resulting from share transactions		10,330,921			(84,758,287	)

(a)

Effective June 29, 2010, Class B shares were converted to Class A shares.

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

Semi-Annual Shareholder Report


Huntington Money Market Fund						Huntington Ohio Municipal Money Market Fund						Huntington U.S. Treasury Money Market Fund
Six Months Ended June 30, 2010			Year Ended December 31, 2009			Six Months Ended June 30, 2010			Year Ended December 31, 2009			Six Months Ended June 30, 2010			Year Ended December 31, 2009
*(Unaudited)*						*(Unaudited)*						*(Unaudited)*


$	24,075		$	119,933		$	12,247		$	260,936		$	18,510		$	33,454
	(9,773	)		41,682			(20,757	)		(181,920	)		—			192
	14,302			161,615			(8,510	)		79,016			18,510			33,646


	(13,015	)		(71,449	)		(6,625	)		(237,814	)		(15,844	)		(65,609	)
	(6,568	)		(25,441	)		(5,622	)		(23,122	)		(2,858	)		(9,836	)
	(10	)		(49	)		—			—			—			—
	(4,482	)		(22,994	)		—			—			—			—
	(24,075	)		(119,933	)		(12,247	)		(260,936	)		(18,702	)		(75,445	)
	(4,150,000	)		(656,458,332	)		(37,774,429	)		(163,898,652	)		39,049,296			(393,294,585	)
	(4,159,773	)		(656,416,650	)		(37,795,186	)		(164,080,572	)		39,049,104			(393,336,384	)

	458,604,392			1,115,021,042			255,003,529			419,084,101			316,198,366			709,534,750
$	454,444,619		$	458,604,392		$	217,208,343		$	255,003,529		$	355,247,470		$	316,198,366

$	—		$	—		$	—		$	—		$	1		$	193


$	428,808,542		$	970,437,598		$	134,676,293		$	181,009,493		$	400,751,241		$	1,218,476,251
	191			879			14			586			—			—
	(443,051,996	)		(1,488,900,099	)		(175,758,523	)		(350,394,268	)		(365,671,991	)		(1,540,225,386	)
	(14,243,263	)		(518,461,622	)		(41,082,216	)		(169,384,189	)		35,079,250			(321,749,135	)

	126,055,993			411,008,765			74,084,738			198,486,543			88,644,176			295,318,833
	1,599			—			—			—			—			—
	5,373			17,951			3,033			7,459			427			3,282
	(132,518,530	)		(575,108,386	)		(70,779,984	)		(193,008,465	)		(84,674,557	)		(366,867,565	)
	(6,455,565	)		(164,081,670	)		3,307,787			5,485,537			3,970,046			(71,545,450	)

	9,183			278,171			—			—			—			—
	10			47			—			—			—			—
	(1,599	)		—			—			—			—			—
	(256,134	)		(461,107	)		—			—			—			—
	(248,540	)		(182,889	)		—			—			—			—

	265,720,730			365,917,434			—			—			—			—
	(248,923,362	)		(339,649,585	)		—			—			—			—
	16,797,368			26,267,849			—			—			—			—
$	(4,150,000	)	$	(656,458,332	)	$	(37,774,429	)	$	(163,898,652	)	$	39,049,296		$	(393,294,585	)


	428,808,542			970,437,548			134,676,293			181,009,476			400,751,240			1,218,476,251
	191			879			15			586			—			—
	(443,051,997	)		(1,488,899,882	)		(175,758,523	)		(350,394,268	)		(365,671,991	)		(1,540,225,386	)
	(14,243,264	)		(518,461,455	)		(41,082,215	)		(169,384,206	)		35,079,249			(321,749,135	)

	126,055,992			411,008,765			74,084,738			198,486,543			88,644,176			295,318,833
	1,599			—			—			—			—			—
	5,373			17,951			3,033			7,459			427			3,282
	(132,518,529	)		(575,108,199	)		(70,779,984	)		(193,008,465	)		(84,674,557	)		(366,867,565	)
	(6,455,565	)		(164,081,483	)		3,307,787			5,485,537			3,970,046			(71,545,450	)

	9,183			277,649			—			—			—			—
	10			47			—			—			—			—
	(1,599	)		—			—			—			—			—
	(256,134	)		(460,939	)		—			—			—			—
	(248,540	)		(183,243	)		—			—			—			—

	265,720,730			365,917,434			—			—			—			—
	(248,923,361	)		(339,649,585	)		—			—			—			—
	16,797,369			26,267,849			—			—			—			—
	(4,150,000	)		(656,458,332	)		(37,774,428	)		(163,898,669	)		39,049,295			(393,294,585	)

Semi-Annual Shareholder Report

Statements of Changes in Net Assets (Continued)


	Huntington Dividend Capture Fund						Huntington Global Select Markets Fund
	Six Months Ended June 30, 2010			Year Ended December 31, 2009			Six Months Ended June 30, 2010			Period Ended December 31, 2009(1)
	*(Unaudited)*						*(Unaudited)*
*Increase (Decrease) in Net Assets:*
*Operations—*
Net investment income	$	1,434,191		$	3,281,761		$	17,628		$	—	(2)
Net realized gain (loss) on investments, options and foreign currency transactions		(308,400	)		(14,163,051	)		44,589			—
Net change in unrealized appreciation/depreciation of investments and foreign currency transactions		(2,693,424	)		28,867,966			(1,094,249	)		—	(2)
Change in net assets resulting from operations		(1,567,633	)		17,986,676			(1,032,032	)		—
*Distributions to Shareholders—*
From and/or in excess of net investment income:
Trust Shares		(1,253,564	)		(2,822,474	)		—			—
Class A Shares		(88,423	)		(192,423	)		—			—
Class B Shares		(95,246	)		(258,584	)		—			—
From return of capital:
Trust Shares		—			(153,159	)		—			—
Class A Shares		—			(11,221	)		—			—
Class B Shares		—			(17,306	)		—			—
Change in net assets resulting from distributions to shareholders		(1,437,233	)		(3,455,167	)		—			—
Change in net assets resulting from capital transactions		2,108,923			(251,986	)		23,440,198			1,000
Change in net assets		(895,943	)		14,279,523			22,408,166			1,000
*Net Assets:*
Beginning of period		87,557,308			73,277,785			1,000			—
End of period	$	86,661,365		$	87,557,308		$	22,409,166		$	1,000

Accumulated net investment income (loss) included in net assets at end of period	$	(3,042	)	$	—		$	17,628		$	—
*Capital Transactions:*
Trust Shares
Shares sold	$	8,782,233		$	14,073,470		$	23,079,333		$	500
Dividends reinvested		672,053			1,618,153			—			—
Shares redeemed		(6,963,353	)		(13,743,009	)		(173,171	)		—
Total Trust Shares		2,490,933			1,948,614			22,906,162			500
Class A Shares
Shares sold		1,308,260			631,611			534,262			500
Shares sold in class consolidation(a)		6,422,265			—			—			—
Dividends reinvested		73,349			168,200			—			—
Shares redeemed		(857,096	)		(1,251,995	)		(226	)		—
Total Class A Shares		6,946,778			(452,184	)		534,036			500
Class B Shares(a)
Shares sold		119,022			138,442			—			—
Dividends reinvested		86,563			252,553			—			—
Shares redeemed in class consolidation		(6,422,265	)		—			—			—
Shares redeemed		(1,112,108	)		(2,139,411	)		—			—
Total Class B Shares		(7,328,788	)		(1,748,416	)		—			—
Net change resulting from capital transactions	$	2,108,923		$	(251,986	)	$	23,440,198		$	1,000
*Share Transactions:*
Trust Shares
Shares sold		1,102,070			2,136,480			2,340,366			50
Dividends reinvested		84,935			241,552			—			—
Shares redeemed		(859,211	)		(2,045,926	)		(17,812	)		—
Total Trust Shares		327,794			332,106			2,322,554			50
Class A Shares
Shares sold		164,677			88,888			54,063			50
Shares sold in class consolidation(a)		840,611			—			—			—
Dividends reinvested		9,274			25,245			—			—
Shares redeemed		(106,426	)		(193,247	)		(23	)		—
Total Class A Shares		908,136			(79,114	)		54,040			50
Class B Shares(a)
Shares sold		14,768			22,302			—			—
Dividends reinvested		10,965			38,105			—			—
Shares redeemed in class consolidation		(843,924	)		—			—			—
Shares redeemed		(139,301	)		(329,522	)		—			—
Total Class B Shares		(957,492	)		(269,115	)		—			—
Net change resulting from share transactions		278,438			(16,123	)		2,376,594			100

(1)

Reflects operations for the period from December 30, 2009 (date of commencement of operations) to December 31, 2009.

(2)

Rounds to less than $1.

(a)

Effective June 29, 2010, Class B shares were converted to Class A shares.

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

Semi-Annual Shareholder Report

Statements of Changes in Net Assets (Continued)

Huntington
Growth Fund

Huntington Income
Equity Fund

Six Months Ended
June 30,
2010

Year Ended
December 31,
2009

Six Months Ended
June 30,
2010

Year Ended
December 31,
2009

(Unaudited)

Increase (Decrease) in Net Assets:

Operations—

Net investment income (loss)

(314,282

)

9,983

1,505,174

2,938,005

Net realized gain (loss) on investments and options

15,533,820

(6,872,503

)

1,002,312

(17,918,728

)

Net change in unrealized appreciation/depreciation of investments

(28,024,857

)

31,169,501

(9,079,339

)

35,063,649

Change in net assets resulting from operations

(12,805,319

)

24,306,981

(6,571,853

)

20,082,926

Distributions to Shareholders—

From and/or in excess of net investment income:

Trust Shares

—

(33,067

)

(1,414,315

)

(2,755,535

)

Class A Shares

—

(45,145

)

(81,421

)

Class B Shares

—

(27,815

)

(63,309

)

From return of capital:

Trust Shares

—

(73,924

)

Class A Shares

—

(2,393

)

Class B Shares

—

(2,242

)

Change in net assets resulting from distributions to shareholders

—

(33,067

)

(1,487,275

)

(2,978,824

)

Change in net assets resulting from capital transactions

(18,275,165

)

(13,294,868

)

(6,007,042

)

(2,644,200

)

Change in net assets

(31,080,484

)

10,979,046

(14,066,170

)

14,459,902

Net Assets:

Beginning of period

149,138,557

138,159,511

110,628,251

96,168,349

End of period

118,058,073

149,138,557

96,562,081

110,628,251

Accumulated net investment income (loss) included in net assets at end of period

(313,878

)

404

17,899

—

Capital Transactions:

Trust Shares

Shares sold

7,146,949

33,779,715

7,053,829

21,427,415

Dividends reinvested

—

18,815

741,433

1,477,314

Shares redeemed

(24,687,899

)

(46,304,608

)

(13,610,963

)

(24,473,024

)

Total Trust Shares

(17,540,950

)

(12,506,078

)

(5,815,701

)

(1,568,295

)

Class A Shares

Shares sold

699,048

765,892

711,264

386,292

Shares sold in class consolidation(a)

2,079,387

—

2,244,174

—

Dividends reinvested

—

42,446

79,886

Shares redeemed

(889,893

)

(983,839

)

(434,188

)

(904,536

)

Total Class A Shares

1,888,542

(217,919

)

2,563,696

(438,358

)

Class B Shares(a)

Shares sold

47,039

159,840

71,030

61,009

Dividends reinvested

—

26,668

63,188

Shares redeemed in class consolidation

(2,079,387

)

—

(2,244,174

)

—

Shares redeemed

(590,409

)

(730,711

)

(608,561

)

(761,744

)

Total Class B Shares

(2,622,757

)

(570,871

)

(2,755,037

)

(637,547

)

Net change resulting from capital transactions

(18,275,165

)

(13,294,868

)

(6,007,042

)

(2,644,200

)

Share Transactions:

Trust Shares

Shares sold

313,088

1,702,652

380,078

1,340,332

Dividends reinvested

—

908

40,361

97,308

Shares redeemed

(1,071,611

)

(2,236,390

)

(715,438

)

(1,525,705

)

Total Trust Shares

(758,523

)

(532,830

)

(294,999

)

(88,065

)

Class A Shares

Shares sold

31,219

37,956

38,301

24,508

Shares sold in class consolidation(a)

101,088

—

129,347

—

Dividends reinvested

—

2,310

5,315

Shares redeemed

(39,641

)

(50,421

)

(23,577

)

(58,007

)

Total Class A Shares

92,666

(12,463

)

146,381

(28,184

)

Class B Shares(a)

Shares sold

2,254

9,060

3,844

3,958

Dividends reinvested

—

1,462

4,259

Shares redeemed in class consolidation

(109,212

)

—

(130,248

)

—

Shares redeemed

(28,409

)

(39,497

)

(32,970

)

(50,380

)

Total Class B Shares

(135,367

)

(30,437

)

(157,912

)

(42,163

)

Net change resulting from share transactions

(801,224

)

(575,730

)

(306,530

)

(158,412

)

(a)

Effective June 29, 2010, Class B shares were converted to Class A shares.

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

Semi-Annual Shareholder Report

Statements of Changes in Net Assets (Continued)

Huntington International
Equity Fund

Huntington Macro
100 Fund

Six Months Ended
June 30,
2010

Year Ended
December 31,
2009

Six Months Ended
June 30,
2010

Year Ended
December 31,
2009

(Unaudited)

Increase (Decrease) in Net Assets:

Operations—

Net investment income (loss)

2,151,378

4,569,072

(6,428

)

60,214

Net realized gain (loss) on investments, options and foreign currency transactions

(3,450,477

)

(21,833,004

)

67,229

(1,322,727

)

Net change in unrealized appreciation/depreciation of investments and foreign currency transactions

(39,558,232

)

103,830,604

(2,069,256

)

7,839,434

Change in net assets resulting from operations

(40,857,331

)

86,566,672

(2,008,455

)

6,576,921

Distributions to Shareholders—

From and/or in excess of net investment income:

Trust Shares

—

(2,949,875

)

—

(60,212

)

Class A Shares

—

(46,814

)

—

Class B Shares

—

(2,670

)

—

From net realized gain on investments:

Trust Shares

—

(577,926

)

—

Class A Shares

—

(17,339

)

—

Class B Shares

—

(4,488

)

—

Change in net assets resulting from distributions to shareholders

—

(3,599,112

)

—

(60,212

)

Change in net assets resulting from capital transactions

(27,682,755

)

49,389,685

8,787,157

8,119,574

Change in net assets

(68,540,086

)

132,357,245

6,778,702

14,636,283

Net Assets:

Beginning of period

332,291,629

199,934,384

30,125,940

15,489,657

End of period

263,751,543

332,291,629

36,904,642

30,125,940

Accumulated net investment income (loss) included in net assets at end of period

1,765,087

(386,291

)

(4,117

)

2,311

Capital Transactions:

Trust Shares

Shares sold

35,740,555

108,643,636

12,668,033

14,285,900

Dividends reinvested

—

1,232,979

—

30,946

Shares redeemed

(62,724,929

)

(58,900,808

)

(3,702,292

)

(5,639,083

)

Total Trust Shares

(26,984,374

)

50,975,807

8,965,741

8,677,763

Class A Shares

Shares sold

787,482

3,327,103

121,625

103,111

Shares sold in class consolidation(a)

1,954,659

—

807,433

—

Dividends reinvested

—

62,719

—

Shares redeemed

(1,377,773

)

(4,883,507

)

(141,307

)

(463,125

)

Total Class A Shares

1,364,368

(1,493,685

)

787,751

(360,014

)

Class B Shares(a)

Shares sold

159,052

281,397

19,109

22,388

Dividends reinvested

—

6,972

—

Shares redeemed in class consolidation

(1,954,659

)

—

(807,433

)

—

Shares redeemed

(267,142

)

(380,806

)

(178,011

)

(220,563

)

Total Class B Shares

(2,062,749

)

(92,437

)

(966,335

)

(198,175

)

Net change resulting from capital transactions

(27,682,755

)

49,389,685

8,787,157

8,119,574

Share Transactions:

Trust Shares

Shares sold

3,401,257

13,029,865

1,439,591

2,086,351

Dividends reinvested

—

124,036

—

3,654

Shares redeemed

(6,242,653

)

(6,525,303

)

(420,787

)

(795,462

)

Total Trust Shares

(2,841,396

)

6,628,598

1,018,804

1,294,543

Class A Shares

Shares sold

75,583

371,017

14,261

15,090

Shares sold in class consolidation(a)

205,106

—

100,677

—

Dividends reinvested

—

6,563

—

Shares redeemed

(134,024

)

(522,841

)

(16,876

)

(67,739

)

Total Class A Shares

146,665

(145,261

)

98,062

(52,649

)

Class B Shares(a)

Shares sold

15,412

32,181

2,222

3,460

Dividends reinvested

—

787

—

Shares redeemed in class consolidation

(209,727

)

—

(103,120

)

—

Shares redeemed

(26,207

)

(42,847

)

(21,618

)

(33,447

)

Total Class B Shares

(220,522

)

(9,879

)

(122,516

)

(29,987

)

Net change resulting from share transactions

(2,915,253

)

6,473,458

994,350

1,211,907

(a)

Effective June 29, 2010, Class B shares were converted to Class A shares.

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

Semi-Annual Shareholder Report

Statements of Changes in Net Assets (Continued)

Huntington Mid Corp
America Fund

Huntington
New Economy Fund

Six Months Ended
June 30,
2010

Year Ended
December 31,
2009

Six Months Ended
June 30,
2010

Year Ended
December 31,
2009

(Unaudited)

Increase (Decrease) in Net Assets:

Operations—

Net investment income (loss)

(18,703

)

326,636

(238,041

)

(183,071

)

Net realized gain (loss) on investments and options

5,418,964

(121,299

)

(200,372

)

(10,319,530

)

Net change in unrealized appreciation/depreciation of investments

(7,882,135

)

35,714,049

(2,220,929

)

25,626,779

Change in net assets resulting from operations

(2,481,874

)

35,919,386

(2,659,342

)

15,124,178

Distributions to Shareholders—

From and/or in excess of net investment income:

Trust Shares

—

(365,323

)

—

Class A Shares

—

(3,401

)

—

Change in net assets resulting from distributions to shareholders

—

(368,724

)

—

Change in net assets resulting from capital transactions

(5,100,300

)

8,847,158

1,210,077

(4,125,836

)

Change in net assets

(7,582,174

)

44,397,820

(1,449,265

)

10,998,342

Net Assets:

Beginning of period

139,091,842

94,694,022

51,058,868

40,060,526

End of period

131,509,668

139,091,842

49,609,603

51,058,868

Accumulated net investment income (loss) included in net assets at end of period

(18,703

)

—

(235,870

)

2,171

Capital Transactions:

Trust Shares

Shares sold

11,226,836

33,756,756

7,160,857

9,940,386

Dividends reinvested

—

132,250

—

Shares redeemed

(15,478,039

)

(23,761,222

)

(5,491,543

)

(12,800,558

)

Total Trust Shares

(4,251,203

)

10,127,784

1,669,314

(2,860,172

)

Class A Shares

Shares sold

649,592

653,555

426,279

655,131

Shares sold in class consolidation(a)

3,055,265

—

1,448,141

—

Dividends reinvested

—

3,199

—

Shares redeemed

(718,581

)

(758,769

)

(599,691

)

(1,435,394

)

Total Class A Shares

2,986,276

(102,015

)

1,274,729

(780,263

)

Class B Shares(a)

Shares sold

48,822

127,210

12,188

48,923

Shares redeemed in class consolidation

(3,055,265

)

—

(1,448,141

)

—

Shares redeemed

(828,930

)

(1,305,821

)

(298,013

)

(534,324

)

Total Class B Shares

(3,835,373

)

(1,178,611

)

(1,733,966

)

(485,401

)

Net change resulting from capital transactions

(5,100,300

)

8,847,158

1,210,077

(4,125,836

)

Share Transactions:

Trust Shares

Shares sold

821,423

3,290,842

744,641

1,273,360

Dividends reinvested

—

9,951

—

Shares redeemed

(1,118,791

)

(2,120,486

)

(568,312

)

(1,607,511

)

Total Trust Shares

(297,368

)

1,180,307

176,329

(334,151

)

Class A Shares

Shares sold

47,919

57,500

44,807

85,056

Shares sold in class consolidation(a)

240,951

—

166,453

—

Dividends reinvested

—

246

—

Shares redeemed

(54,391

)

(72,560

)

(64,047

)

(190,948

)

Total Class A Shares

234,479

(14,814

)

147,213

(105,892

)

Class B Shares(a)

Shares sold

3,733

13,191

1,350

6,923

Shares redeemed in class consolidation

(253,129

)

—

(176,603

)

—

Shares redeemed

(64,238

)

(125,998

)

(33,135

)

(75,489

)

Total Class B Shares

(313,634

)

(112,807

)

(208,388

)

(68,566

)

Net change resulting from share transactions

(376,523

)

1,052,686

115,154

(508,609

)

(a)

Effective June 29, 2010, Class B shares were converted to Class A shares.

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

Semi-Annual Shareholder Report

Statements of Changes in Net Assets (Continued)

Huntington Real
Strategies Fund

Huntington Rotating
Markets Fund

Six Months Ended
June 30,
2010

Year Ended
December 31,
2009

Six Months Ended
June 30,
2010

Year Ended
December 31,
2009

(Unaudited)

Increase (Decrease) in Net Assets:

Operations—

Net investment income

177,509

475,407

11,965

425,295

Net realized gain (loss) on investments and options

(547,267

)

(7,991,270

)

4,618,666

(1,739,757

)

Net change in unrealized appreciation/depreciation of investments

(7,203,921

)

24,556,080

(8,585,789

)

12,210,346

Change in net assets resulting from operations

(7,573,679

)

17,040,217

(3,955,158

)

10,895,884

Distributions to Shareholders—

From and/or in excess of net investment income:

Trust Shares

—

(726,816

)

—

(408,767

)

Class A Shares

—

(9,733

)

—

(13,933

)

Class B Shares

—

(1,232

)

—

(2,509

)

Change in net assets resulting from distributions to shareholders

—

(737,781

)

—

(425,209

)

Change in net assets resulting from capital transactions

7,295,546

21,956,780

(5,016,290

)

3,084,280

Change in net assets

(278,133

)

38,259,216

(8,971,448

)

13,554,955

Net Assets:

Beginning of period

74,018,604

35,759,388

43,993,376

30,438,421

End of period

73,740,471

74,018,604

35,021,928

43,993,376

Accumulated net investment income (loss) included in net assets at end of period

(9,646

)

(187,155

)

14,662

2,697

Capital Transactions:

Trust Shares

Shares sold

15,564,457

34,982,399

2,378,944

8,106,299

Dividends reinvested

—

231,640

—

216,853

Shares redeemed

(8,547,413

)

(13,724,010

)

(7,705,869

)

(4,854,147

)

Total Trust Shares

7,017,044

21,490,029

(5,326,925

)

3,469,005

Class A Shares

Shares sold

326,780

510,322

441,673

268,850

Shares sold in class consolidation(a)

262,045

—

420,143

—

Dividends reinvested

—

8,676

—

13,467

Shares redeemed

(75,801

)

(124,504

)

(325,511

)

(869,240

)

Total Class A Shares

513,034

394,494

536,305

(586,923

)

Class B Shares(a)

Shares sold

74,092

104,113

232,135

209,093

Dividends reinvested

—

1,232

—

2,110

Shares redeemed in class consolidation

(262,045

)

—

(420,143

)

—

Shares redeemed

(46,579

)

(33,088

)

(37,662

)

(9,005

)

Total Class B Shares

(234,532

)

72,257

(225,670

)

202,198

Net change resulting from capital transactions

7,295,546

21,956,780

(5,016,290

)

3,084,280

Share Transactions:

Trust Shares

Shares sold

2,409,575

6,558,762

243,058

953,348

Dividends reinvested

—

35,802

—

21,095

Shares redeemed

(1,335,427

)

(2,447,717

)

(748,773

)

(559,778

)

Total Trust Shares

1,074,148

4,146,847

(505,715

)

414,665

Class A Shares

Shares sold

49,591

90,233

43,367

30,075

Shares sold in class consolidation(a)

44,566

—

45,717

—

Dividends reinvested

—

1,339

—

1,316

Shares redeemed

(11,692

)

(22,980

)

(32,270

)

(101,325

)

Total Class A Shares

82,465

68,592

56,814

(69,934

)

Class B Shares(a)

Shares sold

11,113

18,976

23,347

21,299

Dividends reinvested

—

191

—

209

Shares redeemed in class consolidation

(44,871

)

—

(46,476

)

—

Shares redeemed

(7,285

)

(5,662

)

(3,822

)

(970

)

Total Class B Shares

(41,043

)

13,505

(26,951

)

20,538

Net change resulting from share transactions

1,115,570

4,228,944

(475,852

)

365,269

(a)

Effective June 29, 2010, Class B shares were converted to Class A shares.

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

Semi-Annual Shareholder Report

Statements of Changes in Net Assets (Continued)

Huntington Situs
Fund

Huntington Technical
Opportunities Fund

Six Months Ended
June 30,
2010

Year Ended
December 31,
2009

Six Months Ended
June 30,
2010

Year Ended
December 31,
2009

(Unaudited)

Increase (Decrease) in Net Assets:

Operations—

Net investment income (loss)

(545,343

)

267,309

(25,236

)

59,685

Net realized gain (loss) on investments, options and foreign currency transactions

7,073,727

(16,170,019

)

707,406

(664,660

)

Net change in unrealized appreciation/depreciation of investments and foreign currency transactions

(11,952,557

)

60,633,114

(1,743,941

)

2,020,496

Change in net assets resulting from operations

(5,424,173

)

44,730,404

(1,061,771

)

1,415,521

Distributions to Shareholders—

From and/or in excess of net investment income:

Trust Shares

—

(137,349

)

—

(58,053

)

Class A Shares

—

(1,062

)

—

(229

)

From net realized gain on investments:

Trust Shares

—

(303,439

)

—

Class A Shares

—

(37,293

)

—

Class B Shares

—

(7,568

)

—

From return of capital:

Trust Shares

—

(157,791

)

—

Class A Shares

—

(1,219

)

—

Change in net assets resulting from distributions to shareholders

—

(645,721

)

—

(58,282

)

Change in net assets resulting from capital transactions

8,613,921

24,638,941

613,524

2,116,204

Change in net assets

3,189,748

68,723,624

(448,247

)

3,473,443

Net Assets:

Beginning of period

161,281,749

92,558,125

9,710,584

6,237,141

End of period

164,471,497

161,281,749

9,262,337

9,710,584

Accumulated net investment income (loss) included in net assets at end of period

(477,968

)

67,375

(22,497

)

2,739

Capital Transactions:

Trust Shares

Shares sold

27,650,178

57,231,341

1,132,762

3,336,611

Dividends reinvested

—

249,366

—

43,003

Shares redeemed

(18,541,655

)

(32,901,269

)

(553,260

)

(1,233,922

)

Total Trust Shares

9,108,523

24,579,438

579,502

2,145,692

Class A Shares

Shares sold

2,898,335

4,332,365

45,634

15,534

Shares sold in class consolidation(a)

3,002,021

—

4,906

—

Dividends reinvested

—

39,050

—

222

Shares redeemed

(3,269,690

)

(4,187,864

)

(11,612

)

(28,949

)

Total Class A Shares

2,630,666

183,551

38,928

(13,193

)

Class B Shares(a)

Shares sold

208,548

352,520

—

4,000

Dividends reinvested

—

7,286

—

Shares redeemed in class consolidation

(3,002,021

)

—

(4,906

)

—

Shares redeemed

(331,795

)

(483,854

)

—

(20,295

)

Total Class B Shares

(3,125,268

)

(124,048

)

(4,906

)

(16,295

)

Net change resulting from capital transactions

8,613,921

24,638,941

613,524

2,116,204

Share Transactions:

Trust Shares

Shares sold

1,642,013

4,604,054

148,336

504,999

Dividends reinvested

—

17,659

—

5,570

Shares redeemed

(1,119,535

)

(2,417,894

)

(73,005

)

(185,169

)

Total Trust Shares

522,478

2,203,819

75,331

325,400

Class A Shares

Shares sold

176,009

337,114

6,004

2,435

Shares sold in class consolidation(a)

196,082

—

710

—

Dividends reinvested

—

3,091

—

Shares redeemed

(195,932

)

(324,573

)

(1,579

)

(4,616

)

Total Class A Shares

176,159

15,632

5,135

(2,152

)

Class B Shares(a)

Shares sold

13,217

28,635

—

613

Dividends reinvested

—

608

—

Shares redeemed in class consolidation

(205,056

)

—

(714

)

—

Shares redeemed

(21,145

)

(41,324

)

—

(3,371

)

Total Class B Shares

(212,984

)

(12,081

)

(714

)

(2,758

)

Net change resulting from share transactions

485,653

2,207,370

79,752

320,490

(a)

Effective June 29, 2010, Class B shares were converted to Class A shares.

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

Semi-Annual Shareholder Report

Statements of Changes in Net Assets (Continued)

Huntington Fixed Income
Securities Fund

Huntington Intermediate
Government Income Fund

Six Months Ended
June 30,
2010

Year Ended
December 31,
2009

Six Months Ended
June 30,
2010

Year Ended
December 31,
2009

(Unaudited)

Increase (Decrease) in Net Assets:

Operations—

Net investment income

3,894,076

7,864,639

1,622,352

3,707,576

Net realized gain (loss) on investments

1,083,650

(1,168,072

)

83,905

389,587

Net change in unrealized appreciation/depreciation of investments

7,886,992

4,881,922

2,705,431

(1,883,421

)

Change in net assets resulting from operations

12,864,718

11,578,489

4,411,688

2,213,742

Distributions to Shareholders—

From and/or in excess of net investment income:

Trust Shares

(3,827,619

)

(7,755,385

)

(1,611,523

)

(3,670,980

)

Class A Shares

(57,247

)

(92,552

)

(32,736

)

(50,025

)

Class B Shares

(23,043

)

(60,457

)

(9,667

)

(19,137

)

From net realized gain on investments:

Trust Shares

—

(580,161

)

—

Class A Shares

—

(6,950

)

—

Class B Shares

—

(5,692

)

—

Change in net assets resulting from distributions to shareholders

(3,907,909

)

(8,501,197

)

(1,653,926

)

(3,740,142

)

Change in net assets resulting from capital transactions

24,000,127

44,148,673

(718,712

)

(1,839,872

)

Change in net assets

32,956,936

47,225,965

2,039,050

(3,366,272

)

Net Assets:

Beginning of period

234,962,096

187,736,131

113,847,914

117,214,186

End of period

267,919,032

234,962,096

115,886,964

113,847,914

Accumulated net investment income (loss) included in net assets at end of period

(13,824

)

(31,574

)

—

Capital Transactions:

Trust Shares

Shares sold

43,752,235

89,412,734

9,977,225

40,875,081

Dividends reinvested

1,593,571

3,504,724

825,648

1,969,792

Shares redeemed

(22,323,858

)

(49,379,619

)

(12,046,700

)

(45,743,761

)

Total Trust Shares

23,021,948

43,537,839

(1,243,827

)

(2,898,888

)

Class A Shares

Shares sold

1,706,104

1,478,309

730,957

1,098,395

Shares sold in class consolidation(a)

1,838,391

—

902,507

—

Dividends reinvested

43,326

72,402

20,618

38,813

Shares redeemed

(569,801

)

(684,629

)

(235,388

)

(340,073

)

Total Class A Shares

3,018,020

866,082

1,418,694

797,135

Class B Shares(a)

Shares sold

74,087

226,008

40,750

397,766

Dividends reinvested

19,645

56,450

8,138

17,795

Shares redeemed in class consolidation

(1,838,391

)

—

(902,507

)

—

Shares redeemed

(295,182

)

(537,706

)

(39,960

)

(153,680

)

Total Class B Shares

(2,039,841

)

(255,248

)

(893,579

)

261,881

Net change resulting from capital transactions

24,000,127

44,148,673

(718,712

)

(1,839,872

)

Share Transactions:

Trust Shares

Shares sold

1,993,732

4,181,224

918,387

3,786,327

Dividends reinvested

72,370

163,626

75,860

182,544

Shares redeemed

(1,017,113

)

(2,301,987

)

(1,111,432

)

(4,233,209

)

Total Trust Shares

1,048,989

2,042,863

(117,185

)

(264,338

)

Class A Shares

Shares sold

77,842

68,538

67,156

102,041

Shares sold in class consolidation(a)

82,108

—

81,972

—

Dividends reinvested

1,967

3,380

1,893

3,596

Shares redeemed

(26,126

)

(32,084

)

(21,607

)

(31,522

)

Total Class A Shares

135,791

39,834

129,414

74,115

Class B Shares(a)

Shares sold

3,388

10,605

3,759

37,049

Dividends reinvested

894

2,642

748

1,648

Shares redeemed in class consolidation

(82,219

)

—

(81,897

)

—

Shares redeemed

(13,440

)

(25,092

)

(3,687

)

(14,215

)

Total Class B Shares

(91,376

)

(11,845

)

(81,077

)

24,482

Net change resulting from share transactions

1,093,404

2,070,852

(68,848

)

(165,741

)

(a)

Effective June 29, 2010, Class B shares were converted to Class A shares.

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

Semi-Annual Shareholder Report

Statements of Changes in Net Assets (Continued)

Huntington Mortgage
Securities Fund

Huntington Ohio
Tax-Free Fund

Six Months Ended
June 30,
2010

Year Ended
December 31,
2009

Six Months Ended
June 30,
2010

Year Ended
December 31,
2009

(Unaudited)

Increase (Decrease) in Net Assets:

Operations—

Net investment income

1,616,364

3,271,577

555,644

1,165,906

Net realized gain (loss) on investments and foreign currency transactions

2,590

(409,852

)

73,257

(53,124

)

Net change in unrealized appreciation of investments

1,783,806

2,248,532

294,291

772,362

Change in net assets resulting from operations

3,402,760

5,110,257

923,192

1,885,144

Distributions to Shareholders—

From and/or in excess of net investment income:

Trust Shares

(1,039,716

)

(3,397,493

)

(527,032

)

(1,106,033

)

Class A Shares

(22,479

)

(92,194

)

(20,950

)

(38,681

)

Class B Shares

(3,441

)

(14,901

)

(7,662

)

(21,221

)

Change in net assets resulting from distributions to shareholders

(1,065,636

)

(3,504,588

)

(555,644

)

(1,165,935

)

Change in net assets resulting from capital transactions

3,018,648

15,361,832

4,779,078

9,251,645

Change in net assets

5,355,772

16,967,501

5,146,626

9,970,854

Net Assets:

Beginning of period

103,283,240

86,315,739

45,342,815

35,371,961

End of period

108,639,012

103,283,240

50,489,441

45,342,815

Accumulated net investment income included in net assets at end of period

550,728

—

Capital Transactions:

Trust Shares

Shares sold

10,084,146

31,185,601

8,257,139

15,262,985

Dividends reinvested

443,599

1,549,345

69,377

152,160

Shares redeemed

(7,328,396

)

(16,910,041

)

(3,792,896

)

(6,464,541

)

Total Trust Shares

3,199,349

15,824,905

4,533,620

8,950,604

Class A Shares

Shares sold

69,757

46,545

436,901

521,043

Shares sold in class consolidation(a)

560,977

—

897,826

—

Dividends reinvested

17,208

71,958

17,519

34,700

Shares redeemed

(276,250

)

(547,762

)

(70,663

)

(258,433

)

Total Class A Shares

371,692

(429,259

)

1,281,583

297,310

Class B Shares(a)

Shares sold

42,377

30,813

6,300

57,800

Dividends reinvested

3,369

14,819

5,652

16,324

Shares redeemed in class consolidation

(560,977

)

—

(897,826

)

—

Shares redeemed

(37,162

)

(79,446

)

(150,251

)

(70,393

)

Total Class B Shares

(552,393

)

(33,814

)

(1,036,125

)

3,731

Net change resulting from capital transactions

3,018,648

15,361,832

4,779,078

9,251,645

Share Transactions:

Trust Shares

Shares sold

1,109,328

3,555,321

388,285

718,635

Dividends reinvested

48,910

176,713

3,260

7,165

Shares redeemed

(807,316

)

(1,912,972

)

(178,114

)

(305,521

)

Total Trust Shares

350,922

1,819,062

213,431

420,279

Class A Shares

Shares sold

7,679

5,229

20,536

24,501

Shares sold in class consolidation(a)

61,042

—

42,092

—

Dividends reinvested

1,887

8,168

823

1,635

Shares redeemed

(30,304

)

(61,957

)

(3,330

)

(12,340

)

Total Class A Shares

40,304

(48,560

)

60,121

13,796

Class B Shares(a)

Shares sold

4,655

3,495

297

2,750

Dividends reinvested

370

1,687

265

769

Shares redeemed in class consolidation

(61,242

)

—

(42,092

)

—

Shares redeemed

(4,068

)

(9,048

)

(7,059

)

(3,335

)

Total Class B Shares

(60,285

)

(3,866

)

(48,589

)

184

Net change resulting from share transactions

330,941

1,766,636

224,963

434,259

(a)

Effective June 29, 2010, Class B shares were converted to Class A shares.

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

Semi-Annual Shareholder Report

Statements of Changes in Net Assets (Continued)


	Huntington Short/Intermediate Fixed Income Fund
	Six Months Ended June 30, 2010			Year Ended December 31, 2009
	*(Unaudited)*
*Increase (Decrease) in Net Assets:*
*Operations—*
Net investment income	$	1,709,652		$	3,172,259
Net realized gain (loss) on investments		593,344			(270,239	)
Net change in unrealized appreciation of investments		1,476,677			5,592,730
Change in net assets resulting from operations		3,779,673			8,494,750
*Distributions to Shareholders—*
From and/or in excess of net investment income:
Trust Shares		(1,693,994	)		(3,155,522	)
Class A Shares		(15,658	)		(15,818	)
Change in net assets resulting from distributions to shareholders		(1,709,652	)		(3,171,340	)
Change in net assets resulting from capital transactions		18,033,942			65,451,462
Change in net assets		20,103,963			70,774,872
*Net Assets:*
Beginning of period		150,459,966			79,685,094
End of period	$	170,563,929		$	150,459,966

Accumulated net investment income included in net assets at end of period	$	—		$	—
*Capital Transactions:*
Trust Shares
Shares sold	$	29,179,041		$	91,686,492
Dividends reinvested		495,711			1,139,715
Shares redeemed		(16,799,351	)		(27,869,753	)
Total Trust Shares		12,875,401			64,956,454
Class A Shares
Shares sold		5,375,383			586,130
Dividends reinvested		13,679			12,897
Shares redeemed		(230,521	)		(104,019	)
Total Class A Shares		5,158,541			495,008
Net change resulting from capital transactions	$	18,033,942		$	65,451,462
*Share Transactions:*
Trust Shares
Shares sold		1,463,835			4,733,505
Dividends reinvested		24,841			58,664
Shares redeemed		(842,967	)		(1,434,251	)
Total Trust Shares		645,709			3,357,918
Class A Shares
Shares sold		269,219			29,726
Dividends reinvested		685			663
Shares redeemed		(11,556	)		(5,401	)
Total Class A Shares		258,348			24,988
Net change resulting from share transactions		904,057			3,382,906

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

Semi-Annual Shareholder Report

Statements of Changes in Net Assets (Continued)


	Huntington Balanced Allocation Fund
	Six Months Ended June 30, 2010			Period Ended December 31, 2009(1)
	*(Unaudited)*
*Increase (Decrease) in Net Assets:*
*Operations—*
Net investment income	$	63,897		$	61,310
Net realized gain (loss) on investments		(36,077	)		77,393
Net change in unrealized appreciation/depreciation of investments		(785,189	)		606,106
Change in net assets resulting from operations		(757,369	)		744,809
*Distributions to Shareholders—*
From and/or in excess of net investment income		(63,866	)		(69,748	)
From net realized gain on investments		—			(4,820	)
Change in net assets resulting from distributions to shareholders		(63,866	)		(74,568	)
Change in net assets resulting from capital transactions		5,694,549			12,666,119
Change in net assets		4,873,314			13,336,360
*Net Assets:*
Beginning of period		13,336,360			—
End of period	$	18,209,674		$	13,336,360

Accumulated net investment income included in net assets at end of period	$	120		$	89
*Capital Transactions:*
Shares sold		6,026,147			12,728,615
Dividends reinvested		62,593			73,732
Shares redeemed		(394,191	)		(136,228	)
Net change resulting from capital transactions	$	5,694,549		$	12,666,119
*Share Transactions:*
Issued		558,536			1,247,514
Reinvested		5,918			6,888
Redeemed		(36,868	)		(12,752	)
Net change resulting from share transactions		527,586			1,241,650

(1)

Reflects operations for the period from July 31, 2009 (date of commencement of operations) to December 31, 2009.

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

Semi-Annual Shareholder Report

Statements of Changes in Net Assets (Continued)

Huntington Conservative
Allocation Fund

Huntington Growth
Allocation Fund

Six Months Ended
June 30,
2010

Period Ended
December 31,
2009(1)

Six Months Ended
June 30,
2010

Period Ended
December 31,
2009(1)

(Unaudited)

Increase (Decrease) in Net Assets:

Operations—

Net investment income

90,555

83,157

31,519

48,181

Net realized gain (loss) on investments

18,703

32,732

(30,599

)

98,894

Net change in unrealized appreciation/depreciation of investments

(18,641

)

277,384

(1,013,184

)

760,474

Change in net assets resulting from operations

90,617

393,273

(1,012,264

)

907,549

Distributions to Shareholders—

From and/or in excess of net investment income

(90,381

)

(91,089

)

—

(56,570

)

From net realized gain on investments

—

(5,813

)

—

(4,110

)

Change in net assets resulting from distributions to shareholders

(90,381

)

(96,902

)

—

(60,680

)

Change in net assets resulting from capital transactions

1,387,533

10,952,023

3,003,783

12,075,669

Change in net assets

1,387,769

11,248,394

1,991,519

12,922,538

Net Assets:

Beginning of period

11,248,394

—

12,922,538

—

End of period

12,636,163

11,248,394

14,914,057

12,922,538

Accumulated net investment income included in net assets at end of period

335

161

31,553

Capital Transactions:

Shares sold

1,604,728

11,051,834

3,473,512

12,018,440

Dividends reinvested

90,099

96,761

—

59,697

Shares redeemed

(307,294

)

(196,572

)

(469,729

)

(2,468

)

Net change resulting from capital transactions

1,387,533

10,952,023

3,003,783

12,075,669

Share Transactions:

Issued

153,408

1,099,719

316,737

1,183,911

Reinvested

8,673

9,406

—

5,494

Redeemed

(29,427

)

(18,964

)

(43,082

)

(237

)

Net change resulting from share transactions

132,654

1,090,161

273,655

1,189,168

(1)

Reflects operations for the period from July 31, 2009 (date of commencement of operations) to December 31, 2009.

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

Semi-Annual Shareholder Report

[THIS PAGE INTENTIONALLY LEFT BLANK]

Semi-Annual Shareholder Report

Financial Highlights

Money Market Funds

(For a share outstanding throughout each period)

Net Asset
Value,
beginning
of period

Net
investment
income

Net realized
and unrealized
gain (loss) on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain
on investment
transactions

Total
distributions

HUNTINGTON TAX-FREE MONEY MARKET FUND

Trust Shares

2005

1.00

0.01

—

0.01

(0.01

)

—

(0.01

)

2006

1.00

0.02

—

(1)

0.02

(0.02

)

—

(0.02

)

2007

1.00

0.03

—

(1)

0.03

(0.03

)

—

(0.03

)

2008

1.00

0.02

—

(1)

0.02

(0.02

)

—

(0.02

)

2009

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

2010(2)

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

Class A Shares

2005

1.00

0.01

—

0.01

(0.01

)

—

(0.01

)

2006

1.00

0.02

—

(1)

0.02

(0.02

)

—

(0.02

)

2007

1.00

0.02

—

(1)

0.02

(0.02

)

—

(0.02

)

2008

1.00

0.02

—

(1)

0.02

(0.02

)

—

(0.02

)

2009

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

2010(2)

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

HUNTINGTON MONEY MARKET FUND

Trust Shares

2005

1.00

0.02

—

0.02

(0.02

)

—

(0.02

)

2006

1.00

0.04

—

(1)

0.04

(0.04

)

—

(0.04

)

2007

1.00

0.04

—

(1)

0.04

(0.04

)

—

(0.04

)

2008

1.00

0.02

—

(1)

0.02

(0.02

)

—

(0.02

)

2009

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

2010(2)

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

Class A Shares

2005

1.00

0.02

—

0.02

(0.02

)

—

(0.02

)

2006

1.00

0.04

—

(1)

0.04

(0.04

)

—

(0.04

)

2007

1.00

0.05

—

(1)

0.04

(0.04

)

—

(0.04

)

2008

1.00

0.01

—

(1)

0.01

(0.01

)

—

(0.01

)

2009

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

2010(2)

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

InterFund Shares

2005

1.00

0.03

—

0.03

(0.03

)

—

(0.03

)

2006

1.00

0.04

—

(1)

0.04

(0.04

)

—

(0.04

)

2007

1.00

0.05

—

(1)

0.05

(0.05

)

—

(0.05

)

2008

1.00

0.02

—

(1)

0.02

(0.02

)

—

(0.02

)

2009

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

2010(2)

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

Amount is less than $0.005.

(2)

Six months ended June 30, 2010 (Unaudited).

(3)

Not annualized.

(4)

Amount is less than 0.005%.

(5)

Computed on an annualized basis.

(6)

During the period certain fees were waived and/or reimbursed. If such waivers/reimbursements had not occurred, the ratios would have been as indicated.

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

Semi-Annual Shareholder Report

Net Asset
Value, end
of period

Total
return

Ratio of Net
Expenses to
Average Net
Assets

Ratio of Net
Investment
Income to
Average Net
Assets

Ratio of Expenses
(Prior to
Reimbursements)
to Average
Net Assets(6)

Net Assets,
at end of
period
(000 omitted)

$1.00

1.46

0.92

1.44

0.96

22,388

$1.00

2.48

0.93

2.46

0.93

25,361

$1.00

2.76

0.88

2.69

0.88

48,585

$1.00

1.86

0.88

1.75

0.88

144,861

$1.00

0.10

0.78

0.12

0.89

76,805

$1.00

—

%(3)(4)

0.52

%(5)

0.01

%(5)

0.92

%(5)

87,000

$1.00

1.21

1.17

1.21

11,916

$1.00

2.23

1.18

2.22

1.18

14,205

$1.00

2.51

1.15

2.48

1.15

6,086

$1.00

1.61

1.13

1.48

1.13

38,466

$1.00

0.03

0.87

0.03

1.15

21,709

$1.00

—

%(3)(4)

0.52

%(5)

0.01

%(5)

1.17

%(5)

21,845

$1.00

2.39

0.81

2.39

0.82

537,134

$1.00

4.20

0.82

4.12

0.82

500,167

$1.00

4.37

0.79

4.27

0.79

632,776

$1.00

1.59

0.80

1.53

0.80

779,158

$1.00

0.01

0.45

0.02

0.87

260,720

$1.00

0.01

%(3)

0.28

%(5)

0.01

%(5)

0.87

%(5)

246,471

$1.00

2.13

1.06

2.11

1.07

219,767

$1.00

3.94

1.07

3.92

1.07

406,510

$1.00

4.11

1.04

4.02

1.04

528,326

$1.00

1.34

1.04

1.48

1.04

299,329

$1.00

0.01

0.42

0.01

1.12

135,260

$1.00

0.01

%(3)

0.28

%(5)

0.01

%(5)

1.12

%(5)

128,802

$1.00

2.64

0.56

2.64

0.57

35,266

$1.00

4.46

0.57

4.36

0.57

40,803

$1.00

4.63

0.54

4.51

0.54

60,548

$1.00

1.85

0.55

1.91

0.55

36,102

$1.00

0.03

0.37

0.03

0.63

62,376

$1.00

0.01

%(3)

0.28

%(5)

0.01

%(5)

0.62

%(5)

79,172

Semi-Annual Shareholder Report

Financial Highlights (Continued)

Money Market Funds (Continued)

(For a share outstanding throughout each period)

Net Asset
Value,
beginning
of period

Net
investment
income

Net realized
and unrealized
gain on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain
on investment
transactions

Total
distributions

HUNTINGTON OHIO MUNICIPAL MONEY MARKET FUND

Trust Shares

2005

1.00

0.02

—

0.02

(0.02

)

—

(0.02

)

2006

1.00

0.03

—

(1)

0.03

(0.03

)

—

(0.03

)

2007

1.00

0.03

—

(1)

0.03

(0.03

)

—

(0.03

)

2008

1.00

0.02

—

(1)

0.02

(0.02

)

—

(0.02

)

2009

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

2010(2)

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

Class A Shares

2005

1.00

0.01

—

0.01

(0.01

)

—

(0.01

)

2006

1.00

0.02

—

(1)

0.02

(0.02

)

—

(0.02

)

2007

1.00

0.03

—

(1)

0.03

(0.03

)

—

(0.03

)

2008

1.00

0.02

—

(1)

0.02

(0.02

)

—

(0.02

)

2009

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

2010(2)

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

HUNTINGTON U.S. TREASURY MONEY MARKET FUND

Trust Shares

2005

1.00

0.02

—

0.02

(0.02

)

—

(0.02

)

2006

1.00

0.04

—

(1)

0.04

(0.04

)

—

(0.04

)

2007

1.00

0.04

—

(1)

0.04

(0.04

)

—

(1)

(0.04

)

2008

1.00

0.01

—

(1)

0.01

(0.01

)

—

(0.01

)

2009

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

2010(2)

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

Class A Shares

2005

1.00

0.02

—

0.02

(0.02

)

—

(0.02

)

2006

1.00

0.04

—

(1)

0.04

(0.04

)

—

(0.04

)

2007

1.00

0.04

—

(1)

0.04

(0.04

)

—

(1)

(0.04

)

2008

1.00

0.01

—

(1)

0.01

(0.01

)

—

(0.01

)

2009

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

2010(2)

1.00

—

(1)

—

(1)

—

(1)

—

(1)

—

(1)

Amount is less than $0.005.

(2)

Six months ended June 30, 2010 (Unaudited).

(3)

Not annualized.

(4)

Amount is less than 0.005%.

(5)

Computed on an annualized basis.

(6)

During the period certain fees were waived and/or reimbursed. If such waivers/reimbursements had not occurred, the ratios would have been as indicated.

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

Semi-Annual Shareholder Report

Net Asset
Value, end
of period

Total
return

Ratio of Net
Expenses to
Average Net
Assets

Ratio of Net
Investment
Income to
Average Net
Assets

Ratio of Expenses
(Prior to
Reimbursements)
to Average
Net Assets(6)

Net Assets,
at end of
period
(000 omitted)

$1.00

1.60

0.83

1.60

0.85

84,799

$1.00

2.60

0.85

2.58

0.85

95,205

$1.00

2.83

0.82

2.78

0.82

199,613

$1.00

1.81

0.83

1.73

0.83

312,467

$1.00

0.12

0.78

0.14

0.89

142,956

$1.00

—

(3)(4)

0.45

%(5)

0.01

%(5)

0.87

%(5)

101,863

1.00

1.35

1.08

1.33

1.10

96,600

1.00

2.35

1.10

2.33

1.10

108,666

1.00

2.57

1.07

2.54

1.07

122,147

1.00

1.56

1.08

1.54

1.08

106,617

1.00

0.02

0.82

0.02

1.14

112,048

1.00

—

(3)(4)

0.45

%(5)

0.01

%(5)

1.12

%(5)

115,345

1.00

2.31

0.74

2.32

0.74

499,718

1.00

4.12

0.74

4.06

0.74

536,387

1.00

4.01

0.72

3.89

0.72

757,331

1.00

0.93

0.69

0.93

0.76

583,050

1.00

0.01

0.20

0.01

0.79

261,263

1.00

0.01

%(3)

0.14

%(5)

0.01

%(5)

0.77

%(5)

296,342

1.00

2.05

0.99

2.09

0.99

85,671

1.00

3.86

0.99

3.80

0.99

68,073

1.00

3.75

0.97

3.61

0.97

103,041

1.00

0.74

0.83

0.67

0.98

126,485

1.00

0.01

0.20

0.01

1.03

54,935

1.00

0.01

%(3)

0.14

%(5)

0.01

%(5)

1.02

%(5)

58,905

Semi-Annual Shareholder Report

Financial Highlights (Continued)

Equity Funds

(For a share outstanding throughout each period)

Net Asset
Value,
beginning
of period

Net
investment
income

Net realized
and unrealized
gain (loss) on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain
on investment
transactions

Distributions
from return
of capital

Total
distributions

HUNTINGTON DIVIDEND CAPTURE FUND

Trust Shares

2005

11.59

0.46

(0.11

)

0.35

(0.47

)

(0.61

)

—

(1.08

)

2006

10.86

0.39

1.32

1.71

(0.39

)

(0.54

)

—

(0.93

)

2007

11.64

0.38

(1.15

)

(0.77

)

(0.39

)

(0.59

)

—

(0.98

)

2008

9.89

0.40

(3.18

)

(2.78

)

(0.39

)

(0.12

)

(0.03

)

(0.54

)

2009

6.57

0.29

1.31

1.60

(0.29

)

—

(0.02

)

(0.31

)

2010(4)

7.86

0.13

(0.28

)

(0.15

)

(0.13

)

—

(0.13

)

Class A Shares

2005

11.59

0.42

(0.10

)

0.32

(0.44

)

(0.61

)

—

(1.05

)

2006

10.86

0.36

1.32

1.68

(0.36

)

(0.54

)

—

(0.90

)

2007

11.63

0.35

(1.14

)

(0.79

)

(0.36

)

(0.59

)

—

(0.95

)

2008

9.89

0.38

(3.18

)

(2.80

)

(0.37

)

(0.12

)

(0.03

)

(0.52

)

2009

6.57

0.27

1.31

1.58

(0.27

)

—

(0.02

)

(0.29

)

2010(4)

7.86

0.12

(0.28

)

(0.16

)

(0.12

)

—

(0.12

)

HUNTINGTON GLOBAL SELECT MARKETS FUND

Trust Shares

2009(7)

10.00

—

(8)

—

(8)

—

(8)

—

2010(4)

10.00

0.01

(0.58

)

(0.57

)

—

Class A Shares

2009(7)

10.00

—

(8)

—

(8)

—

(8)

—

2010(4)

10.00

—

(8)

(0.58

)

(0.58

)

—

(1)

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

(2)

If applicable, certain fees were waived and/or reimbursed. If such waivers/reimbursements had not occurred, the ratios would have been as indicated.

(3)

Portfolio Turnover is calculated on the basis of the Fund as a whole without distinguishing among the classes of shares.

(4)

Six months ended June 30, 2010 (Unaudited).

(5)

Not annualized.

(6)

Computed on an annualized basis.

(7)

Reflects operations for the period from December 30, 2009 (commencement of operations) to December 31, 2009.

(8)

Amount is less than $0.005

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

Semi-Annual Shareholder Report

Net Asset
Value, end
of period

Total
return(1)

Ratio of Net
Expenses to
Average
Net Assets

Ratio of Net
Investment
Income
(Loss) to
Average
Net Assets

Ratio of Expenses
(Prior to
Reimbursements)
to Average
Net Assets(2)

Net Assets,
at end of
period
(000 omitted)

Portfolio
turnover
rate(3)

$10.86

3.10

1.31

4.07

1.32

92,819

131

$11.64

16.03

1.31

3.44

1.31

112,404

$ 9.89

(6.91

1.30

3.35

1.30

93,862

$ 6.57

(29.26

1.31

4.56

1.31

60,162

$ 7.86

25.24

1.41

4.37

1.41

74,593

$ 7.58

(1.95

)%(5)

1.43

%(6)

3.32

%(6)

1.43

%(6)

74,496

%(5)

$10.86

2.85

1.56

3.82

1.58

10,177

131

$11.63

15.74

1.56

3.18

1.56

11,502

$ 9.89

(7.14

1.55

3.11

1.55

10,366

$ 6.57

(29.41

1.56

4.18

1.56

5,094

$ 7.86

24.93

1.66

4.10

1.66

5,473

$ 7.58

(2.06

)%(5)

1.68

%(6)

3.06

%(6)

1.68

%(6)

12,166

%(5)

$10.00

0.00

%(5)

1.83

%(6)

(1.46

)%(6)

1.83

%(6)

—

%(5)

$ 9.43

(5.70

)%(5)

1.90

%(6)

0.24

%(6)

2.26

%(6)

21,900

%(5)

$10.00

0.00

%(5)

2.19

%(6)

(2.92

)%(6)

2.19

%(6)

—

%(5)

$ 9.42

(5.80

)%(5)

2.15

%(6)

0.07

%(6)

2.52

%(6)

509

%(5)

Semi-Annual Shareholder Report

Financial Highlights (Continued)

Equity Funds (Continued)

(For a share outstanding throughout each period)

Net Asset
Value,
beginning
of period

Net
investment
income (loss)

Net realized
and unrealized
gain (loss) on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain
on investment
transactions

Distributions
from return
of capital

Total
distributions

HUNTINGTON GROWTH FUND

Trust Shares

2005

41.13

0.04

0.64

0.68

(0.03

)

(2.26

)

—

(2.29

)

2006

39.52

0.09

3.10

3.19

(0.08

)

(5.39

)

—

(5.47

)

2007

37.24

0.12

5.57

5.69

(0.11

)

(7.81

)

—

(7.92

)

2008

35.01

0.05

(12.12

)

(12.07

)

(0.04

)

(3.19

)

—

(3.23

)

2009

19.71

0.01

3.45

3.46

—

(4)

—

(4)

2010(5)

23.17

(0.05

)

(2.20

)

(2.25

)

—

Class A Shares

2005

40.70

(0.07

)

0.64

0.57

—

(2.26

)

—

(2.26

)

2006

39.01

(0.01

)

3.05

3.04

—

(5.39

)

—

(5.39

)

2007

36.66

0.03

5.47

5.50

(0.04

)

(7.81

)

—

(7.85

)

2008

34.31

(0.03

)

(11.83

)

(11.86

)

—

(4)

(3.19

)

—

(3.19

)

2009

19.26

(0.04

)

3.37

3.33

—

2010(5)

22.59

(0.06

)

(2.17

)

(2.23

)

—

HUNTINGTON INCOME EQUITY FUND

Trust Shares

2005

33.28

0.65

0.36

1.01

(0.65

)

(2.38

)

—

(3.03

)

2006

31.26

0.57

2.94

3.51

(0.57

)

(3.09

)

—

(3.66

)

2007

31.11

0.55

—

(4)

0.55

(0.54

)

(4.66

)

—

(5.20

)

2008

26.46

0.57

(10.54

)

(9.99

)

(0.54

)

(0.11

)

(0.03

)

(0.68

)

2009

15.79

0.47

2.87

3.34

(0.47

)

—

(0.01

)

(0.48

)

2010(5)

18.65

0.27

(1.50

)

(1.23

)

(0.26

)

—

(0.26

)

Class A Shares

2005

33.29

0.56

0.37

0.93

(0.57

)

(2.38

)

—

(2.95

)

2006

31.27

0.49

2.93

3.42

(0.49

)

(3.09

)

—

(3.58

)

2007

31.11

0.46

0.01

0.47

(0.46

)

(4.66

)

—

(5.12

)

2008

26.46

0.51

(10.54

)

(10.03

)

(0.49

)

(0.11

)

(0.03

)

(0.63

)

2009

15.80

0.44

2.86

3.30

(0.43

)

—

(0.01

)

(0.44

)

2010(5)

18.66

0.24

(1.49

)

(1.25

)

(0.24

)

—

(0.24

)

(1)

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

(2)

Portfolio Turnover is calculated on the basis of the Fund as a whole without distinguishing among the classes of shares.

(3)

Portfolio turnover rate increased significantly during the period. This increase was attributable to changes in equity management staff, cash flows into and out of the Fund, as well as tactical portfolio adjustments made. The basic characteristics of the Fund’s investment strategy in terms of market capitalization, style and diversification have not changed (Unaudited).

(4)

Amount is less than $0.005.

(5)

Six months ended June 30, 2010 (Unaudited).

(6)

Not annualized.

(7)

Computed on an annualized basis.

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

Semi-Annual Shareholder Report


Net Asset Value, end of period	Total return(1)		Ratio of Net Expenses to Average Net Assets		Ratio of Net Investment Income (Loss) to Average Net Assets		Ratio of Expenses (Prior to Reimbursements) to Average Net Assets		Net Assets, at end of period (000 omitted)		Portfolio turnover rate(2)


$39.52	1.51	%	1.14	%	0.09	%	1.15	%	$	235,916	20	%
$37.24	8.36	%	1.15	%	0.22	%	1.15	%	$	223,155	31	%
$35.01	15.93	%	1.13	%	0.32	%	1.13	%	$	227,972	86	%(3)
$19.71	(37.76	)%	1.15	%	0.15	%	1.15	%	$	129,745	83	%
$23.17	17.58	%	1.20	%	0.03	%	1.20	%	$	140,206	120	%
$20.92	(9.67	)%(6)	1.23	%(7)	(0.44	)%(7)	1.23	%(7)	$	110,678	114	%(6)

$39.01	1.26	%	1.39	%	(0.17	)%	1.40	%	$	10,598	20	%
$36.66	8.11	%	1.40	%	(0.03	)%	1.40	%	$	9,209	31	%
$34.31	15.62	%	1.38	%	0.07	%	1.38	%	$	9,680	86	%(3)
$19.26	(37.92	)%	1.40	%	(0.11	)%	1.40	%	$	5,436	83	%
$22.59	17.29	%	1.45	%	(0.22	)%	1.45	%	$	6,096	120	%
$20.36	(9.83	)%(6)	1.49	%(7)	(0.71	)%(7)	1.49	%(7)	$	7,381	114	%(6)


$31.26	3.04	%	1.15	%	1.98	%	1.15	%	$	193,906	33	%
$31.11	11.36	%	1.15	%	1.79	%	1.15	%	$	185,816	43	%
$26.46	1.90	%	1.14	%	1.72	%	1.14	%	$	158,501	90	%
$15.79	(38.35	)%	1.16	%	2.60	%	1.16	%	$	89,815	88	%
$18.65	21.92	%	1.22	%	3.05	%	1.22	%	$	104,433	90	%
$17.16	(6.67	)%(6)	1.23	%(7)	2.85	%(7)	1.23	%(7)	$	91,040	26	%(6)

$31.27	2.80	%	1.40	%	1.72	%	1.40	%	$	6,197	33	%
$31.11	11.05	%	1.40	%	1.53	%	1.40	%	$	6,139	43	%
$26.46	1.65	%	1.39	%	1.48	%	1.39	%	$	6,330	90	%
$15.80	(38.47	)%	1.41	%	2.34	%	1.41	%	$	3,214	88	%
$18.66	21.60	%	1.47	%	2.83	%	1.47	%	$	3,271	90	%
$17.17	(6.78	)%(6)	1.48	%(7)	2.61	%(7)	1.48	%(7)	$	5,522	26	%(6)

Semi-Annual Shareholder Report

Financial Highlights (Continued)

Equity Funds (Continued)

(For a share outstanding throughout each period)

Net Asset
Value,
beginning
of period

Net
investment
income (loss)

Net realized
and unrealized
gain (loss) on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain
on investment
transactions

Total
distributions

HUNTINGTON INTERNATIONAL EQUITY FUND

Trust Shares

2005

10.67

0.06

1.49

1.55

(0.08

)

(0.35

)

(0.43

)

2006

11.79

0.09

3.10

3.19

(0.08

)

(0.97

)

(1.05

)

2007

13.93

0.13

2.20

2.33

(0.15

)

(1.10

)

(1.25

)

2008

15.01

0.17

(6.36

)

(6.19

)

(0.13

)

(0.47

)

(0.60

)

2009

8.22

0.17

2.52

2.69

(0.10

)

(0.02

)

(0.12

)

2010(3)

10.79

0.08

(1.41

)

(1.33

)

—

Class A Shares

2005

10.64

0.03

1.49

1.52

(0.07

)

(0.35

)

(0.42

)

2006

11.74

0.03

3.10

3.13

(0.06

)

(0.97

)

(1.03

)

2007

13.84

0.08

2.19

2.27

(0.11

)

(1.10

)

(1.21

)

2008

14.90

0.13

(6.29

)

(6.16

)

(0.11

)

(0.47

)

(0.58

)

2009

8.16

0.13

2.51

2.64

(0.06

)

(0.02

)

(0.08

)

2010(3)

10.72

0.05

(1.38

)

(1.33

)

—

HUNTINGTON MACRO 100 FUND

Trust Shares

2005

11.20

(0.03

)

0.57

0.54

—

(0.43

)

(0.43

)

2006

11.31

—

(6)

0.77

—

(0.24

)

(0.24

)

2007

11.84

—

(6)

(0.33

)

(0.33

)

—

(1.46

)

(1.46

)

2008

10.05

0.09

(3.54

)

(3.45

)

(0.09

)

—

(0.09

)

2009

6.51

0.02

1.88

1.90

(0.02

)

—

(0.02

)

2010(3)

8.39

—

(6)

(0.35

)

(0.35

)

—

Class A Shares

2005

11.18

(0.04

)

0.55

0.51

—

(0.43

)

(0.43

)

2006

11.26

(0.02

)

0.76

0.74

—

(0.24

)

(0.24

)

2007

11.76

(0.03

)

(0.33

)

(0.36

)

—

(1.46

)

(1.46

)

2008

9.94

0.07

(3.49

)

(3.42

)

(0.07

)

—

(0.07

)

2009

6.45

—

(6)

1.85

—

2010(3)

8.30

(0.01

)

(0.34

)

(0.35

)

—

(1)

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

(2)

Portfolio Turnover is calculated on the basis of the Fund as a whole without distinguishing among the classes of shares.

(3)

Six months ended June 30, 2010 (Unaudited).

(4)

Not annualized.

(5)

Computed on an annualized basis.

(6)

Amount is less than $0.005.

(7)

The major cause of increase to portfolio turnover was changes made to the portfolio by the management team based upon changing macroeconomic fundamentals.

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

Semi-Annual Shareholder Report


Net Asset Value, end of period	Total return(1)		Ratio of Net Expenses to Average Net Assets		Ratio of Net Investment Income (Loss) to Average Net Assets		Ratio of Expenses (Prior to Reimbursements) to Average Net Assets		Net Assets, at end of period (000 omitted)		Portfolio turnover rate(2)


$11.79	14.48	%	1.58	%	0.69	%	1.58	%	$	190,087	21	%
$13.93	27.04	%	1.57	%	0.73	%	1.57	%	$	266,509	26	%
$15.01	17.06	%	1.54	%	0.92	%	1.54	%	$	324,158	25	%
$ 8.22	(41.73	)%	1.57	%	1.37	%	1.57	%	$	191,163	21	%
$10.79	32.84	%	1.59	%	1.68	%	1.59	%	$	322,427	26	%
$ 9.46	(12.33	)%(4)	1.59	%(5)	1.38	%(5)	1.59	%(5)	$	255,767	24	%(4)

$11.74	14.22	%	1.81	%	0.39	%	1.81	%	$	2,463	21	%
$13.84	26.79	%	1.83	%	0.40	%	1.83	%	$	6,509	26	%
$14.90	16.76	%	1.79	%	0.71	%	1.79	%	$	11,151	25	%
$ 8.16	(41.88	)%	1.82	%	1.13	%	1.82	%	$	6,929	21	%
$10.72	32.45	%	1.84	%	1.28	%	1.84	%	$	7,547	26	%
$ 9.39	(12.41	)%(4)	1.85	%(5)	1.08	%(5)	1.85	%(5)	$	7,985	24	%(4)


$11.31	4.72	%	1.51	%	(0.27	)%	1.51	%	$	25,145	87	%
$11.84	6.79	%	1.43	%	0.04	%	1.43	%	$	42,758	222	%(7)
$10.05	(3.12	)%	1.36	%	0.02	%	1.36	%	$	32,284	153	%
$ 6.51	(34.32	)%	1.56	%	0.88	%	1.56	%	$	13,521	318	%(7)
$ 8.39	29.15	%	1.55	%	0.28	%	1.55	%	$	28,278	10	%
$ 8.04	(4.17	)%(4)	1.51	%(5)	(0.01	)%(5)	1.51	%(5)	$	35,309	12	%(4)

$11.26	4.46	%	1.76	%	(0.52	)%	1.76	%	$	2,152	87	%
$11.76	6.55	%	1.68	%	(0.23	)%	1.68	%	$	3,189	222	%(7)
$ 9.94	(3.40	)%	1.61	%	(0.23	)%	1.61	%	$	2,621	153	%
$ 6.45	(34.45	)%	1.82	%	0.66	%	1.82	%	$	1,001	318	%(7)
$ 8.30	28.68	%	1.80	%	0.06	%	1.80	%	$	853	10	%
$ 7.95	(4.22	)%(4)	1.76	%(5)	(0.25	)%(5)	1.76	%(5)	$	1,596	12	%(4)

Semi-Annual Shareholder Report

Financial Highlights (Continued)

Equity Funds (Continued)

(For a share outstanding throughout each period)

Net Asset
Value,

beginning
of period

Net
investment
income (loss)

Net realized
and unrealized
gain (loss) on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain
on investment
transactions

Distributions
from return
of capital

Total
distributions

HUNTINGTON MID CORP AMERICA FUND

Trust Shares

2005

13.90

0.02

1.56

1.58

(0.01

)

—

(0.01

)

2006

15.47

0.02

1.24

1.26

(0.01

)

(0.29

)

—

(0.30

)

2007

16.43

(0.01

)

1.26

1.25

—

(3)

(1.37

)

—

(1.37

)

2008

16.31

0.02

(5.98

)

(5.96

)

(0.01

)

(0.41

)

—

(0.42

)

2009

9.93

0.04

3.20

3.24

(0.04

)

—

(0.04

)

2010(4)

13.13

—

(3)

(0.28

)

(0.28

)

—

Class A Shares

2005

13.75

(0.02

)

1.54

1.52

—

2006

15.27

(0.03

)

1.23

1.20

—

(0.29

)

—

(0.29

)

2007

16.18

(0.05

)

1.24

1.19

—

(1.37

)

—

(1.37

)

2008

16.00

(0.02

)

(5.84

)

(5.86

)

—

(0.41

)

—

(0.41

)

2009

9.73

0.01

3.12

3.13

(0.01

)

—

(0.01

)

2010(4)

12.85

(0.01

)

(0.28

)

(0.29

)

—

HUNTINGTON NEW ECONOMY FUND

Trust Shares

2005

14.34

(0.06

)

1.82

1.76

—

(0.18

)

—

(0.18

)

2006

15.92

(0.06

)

1.50

1.44

—

(1.32

)

—

(1.32

)

2007

16.04

0.02

1.84

1.86

(0.01

)

(3.16

)

—

(3.17

)

2008

14.73

(0.04

)(9)

(7.97

)

(8.01

)

—

(0.01

)

(0.01

)

2009

6.71

(0.03

)

2.66

2.63

—

2010(4)

9.34

(0.04

)

(0.43

)

(0.47

)

—

Class A Shares

2005

14.23

(0.05

)

1.74

1.69

—

(0.18

)

—

(0.18

)

2006

15.74

(0.09

)

1.49

1.40

—

(1.32

)

—

(1.32

)

2007

15.81

(0.01

)

1.81

1.80

—

(3.16

)

—

(3.16

)

2008

14.45

(0.07

)(9)

(7.81

)

(7.88

)

—

(0.01

)

(0.01

)

2009

6.56

(0.05

)

2.60

2.55

—

2010(4)

9.11

(0.05

)

(0.42

)

(0.47

)

—

(1)

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

(2)

Portfolio Turnover is calculated on the basis of the Fund as a whole without distinguishing among the classes of shares.

(3)

Amount is less than $0.005.

(4)

Six months ended June 30, 2010 (Unaudited).

(5)

Not annualized.

(6)

Computed on an annualized basis.

(7)

Amount is less than 0.005%.

(8)

(9)

Per share net investment income (loss) has been calculated using the average daily shares method.

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

Semi-Annual Shareholder Report


Net Asset Value, end of period		Total return(1)		Ratio of Net Expenses to Average Net Assets		Ratio of Net Investment Income (Loss) to Average Net Assets		Ratio of Expenses (Prior to Reimbursements) to Average Net Assets		Net Assets, at end of period (000 omitted)		Portfolio turnover rate(2)


	$15.47	11.36	%	1.31	%	0.11	%	1.32	%	$	147,477	7	%
	$16.43	8.09	%	1.31	%	0.07	%	1.31	%	$	150,902	6	%
	$16.31	7.79	%	1.30	%	(0.04	)%	1.30	%	$	149,245	11	%
	$ 9.93	(37.51	)%	1.31	%	0.10	%	1.31	%	$	87,843	18	%
	$13.13	32.59	%	1.36	%	0.30	%	1.36	%	$	131,638	12	%
	$12.85	(2.13	)%(5)	1.37	%(6)	—	%(6)(7)	1.37	%(6)	$	125,037	10	%(5)

	$15.27	11.05	%	1.56	%	(0.14	)%	1.57	%	$	4,646	7	%
	$16.18	7.84	%	1.56	%	(0.17	)%	1.56	%	$	4,986	6	%
	$16.00	7.53	%	1.55	%	(0.29	)%	1.55	%	$	5,240	11	%
	$ 9.73	(37.62	)%	1.56	%	(0.16	)%	1.56	%	$	2,875	18	%
	$12.85	32.19	%	1.61	%	0.04	%	1.61	%	$	3,608	12	%
	$12.56	(2.26	)%(5)	1.62	%(6)	(0.26	)%(6)	1.62	%(6)	$	6,473	10	%(5)


	$15.92	12.27	%	1.46	%	(0.42	)%	1.46	%	$	79,794	61	%
	$16.04	9.18	%	1.43	%	(0.39	)%	1.43	%	$	97,791	50	%
	$14.73	12.19	%	1.41	%	0.14	%	1.41	%	$	106,812	119	%(8)
	$ 6.71	(54.43	)%	1.44	%	(0.38	)%	1.44	%	$	35,041	127	%
	$ 9.34	39.20	%	1.55	%	(0.34	)%	1.55	%	$	45,656	114	%
	$ 8.87	(5.03	)%(5)	1.58	%(6)	(0.86	)%(6)	1.58	%(6)	$	44,915	107	%(5)

	$15.74	11.87	%	1.71	%	(0.64	)%	1.71	%	$	5,804	61	%
	$15.81	8.96	%	1.68	%	(0.64	)%	1.68	%	$	8,607	50	%
	$14.45	11.99	%	1.66	%	(0.11	)%	1.66	%	$	8,943	119	%(8)
	$ 6.56	(54.58	)%	1.69	%	(0.63	)%	1.69	%	$	3,294	127	%
	$ 9.11	38.87	%	1.80	%	(0.62	)%	1.80	%	$	3,609	114	%
$	8.64	(5.16	)%(5)	1.83	%(6)	(1.11	)%(6)	1.83	%(6)	$	4,694	107	%(5)

Semi-Annual Shareholder Report

Financial Highlights (Continued)

Equity Funds (Continued)

(For a share outstanding throughout each period)

Net Asset
Value,
beginning
of period

Net
investment
income (loss)

Net realized
and unrealized
gain (loss) on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain
on investment
transactions

Distributions
from return
of capital

Total
distributions

HUNTINGTON REAL STRATEGIES FUND

Trust Shares

2007(3)

10.00

0.11

0.92

1.03

(0.11

)

(0.13

)

—

(0.24

)

2008

10.79

0.05

(7)

(5.86

)

(5.81

)

(0.05

)

—

(0.03

)

(0.08

)

2009

4.90

0.04

1.54

1.58

(0.06

)

—

(0.06

)

2010(8)

6.42

0.02

(0.61

)

(0.59

)

—

Class A Shares

2007(3)

10.00

0.09

0.92

1.01

(0.10

)

(0.13

)

—

(0.23

)

2008

10.78

0.03

(7)

(5.85

)

(5.82

)

(0.02

)

—

(0.02

)

(0.04

)

2009

4.92

0.03

1.54

1.57

(0.06

)

—

(0.06

)

2010(8)

6.43

0.01

(0.60

)

(0.59

)

—

HUNTINGTON ROTATING MARKETS FUND

Trust Shares

2005

10.48

0.06

0.93

0.99

(0.06

)

—

(0.06

)

2006

11.41

0.12

2.10

2.22

(0.12

)

(0.20

)

—

(0.32

)

2007

13.31

0.14

1.00

1.14

(0.14

)

(0.68

)

—

(0.82

)

2008

13.63

0.10

(5.71

)

(5.61

)

(0.10

)

(0.19

)

—

(0.29

)

2009

7.73

0.10

2.50

2.60

(0.10

)

—

(0.10

)

2010(8)

10.23

—

(10)

(1.07

)

(1.07

)

—

Class A Shares

2005

10.42

0.03

0.93

0.96

(0.03

)

—

(0.03

)

2006

11.35

0.10

2.08

2.18

(0.10

)

(0.20

)

—

(0.30

)

2007

13.23

0.10

0.99

1.09

(0.10

)

(0.68

)

—

(0.78

)

2008

13.54

0.07

(5.66

)

(5.59

)

(0.07

)

(0.19

)

—

(0.26

)

2009

7.69

0.08

2.48

2.56

(0.07

)

—

(0.07

)

2010(8)

10.18

(0.01

)

(1.07

)

(1.08

)

—

(1)

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

(2)

Portfolio turnover is calculated on the basis of the Fund as a whole without distinguishing among the classes of shares.

(3)

Reflects operations for the period from May 1, 2007 (date of commencement of operations) to December 31, 2007.

(4)

Not annualized.

(5)

Does not include the effect of expenses of underlying funds.

(6)

Computed on an annualized basis.

(7)

Per share net investment income (loss) has been calculated using the average daily shares method.

(8)

Six months ended June 30, 2010 (Unaudited).

(9)

The portfolio turnover rate increased significantly during the period. This increase was attributable to cash flows into and out of the Fund, as well as tactical portfolio adjustments made. The basic characteristics of the Fund’s investment strategy have not changed (Unaudited).

(10)

Amount less than $0.005.

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

Semi-Annual Shareholder Report

100

Net Asset
Value, end
of period

Total
return(1)

Ratio of Net
Expenses to
Average Net
Assets

Ratio of Net
Investment
Income
(Loss) to
Average
Net Assets

Ratio of Expenses
(Prior to
Reimbursements)
to Average
Net Assets

Net Assets,
at end of
period
(000 omitted)

Portfolio
turnover
rate(2)

$10.79

10.41

%(4)

1.49

%(5)(6)

2.54

%(6)

1.61

%(5)(6)

44,523

%(4)

$ 4.90

(53.87

1.38

%(5)

0.65

1.38

%(5)

35,110

$ 6.42

32.33

1.38

%(5)

0.82

1.38

%(5)

72,641

$ 5.83

(9.19

)%(4)

1.38

%(5)(6)

0.47

%(6)

1.38

%(5)(6)

72,248

%(4)

$10.78

10.22

%(4)

1.70

%(5)(6)

2.30

%(6)

1.83

%(5)(6)

706

%(4)

$ 4.92

(53.95

1.63

%(5)

0.39

1.63

%(5)

514

$ 6.43

31.82

1.63

%(5)

0.64

1.63

%(5)

1,114

$ 5.84

(9.18

)%(4)

1.63

%(5)(6)

0.16

%(6)

1.63

%(5)(6)

1,492

%(4)

$11.41

9.44

1.17

%(5)

0.58

1.17

%(5)

29,249

$13.31

19.56

1.15

%(5)

1.13

1.15

%(5)

45,161

$13.63

8.67

1.08

%(5)

1.08

%(5)

53,375

$ 7.73

(41.68

1.18

%(5)

0.85

1.18

%(5)

28,390

218

%(9)

$10.23

33.64

1.19

%(5)

1.16

1.19

%(5)

41,786

230

$ 9.16

(10.46

)%(4)

1.22

%(5)(6)

0.07

%(6)

1.22

%(5)(6)

32,773

142

%(4)

$11.35

9.24

1.42

%(5)

0.30

1.42

%(5)

1,911

$13.23

19.19

1.40

%(5)

0.95

1.40

%(5)

3,438

$13.54

8.43

1.33

%(5)

0.69

1.33

%(5)

3,982

$ 7.69

(41.81

1.43

%(5)

0.59

1.43

%(5)

2,000

218

%(9)

$10.18

33.32

1.44

%(5)

0.85

1.44

%(5)

1,937

230

$ 9.10

(10.61

)%(4)

1.47

%(5)(6)

(0.16

)%(6)

1.47

%(5)(6)

2,249

142

%(4)

Semi-Annual Shareholder Report

101

Financial Highlights (Continued)

Equity Funds (Continued)

(For a share outstanding throughout each period)

Net Asset
Value,
beginning
of period

Net
investment
income (loss)

Net realized
and unrealized
gain (loss) on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain
on investment
transactions

Distributions
from return
of capital

Total
distributions

HUNTINGTON SITUS FUND

Trust Shares

2005

17.09

(0.07

)

2.83

2.76

—

(0.61

)

—

(0.61

)

2006

19.24

(0.07

)

2.12

2.05

—

(1.15

)

—

(1.15

)

2007

20.14

0.02

1.94

1.96

—

(2.10

)

—

(2.10

)

2008

20.00

0.01

(7.83

)

(7.82

)

—

(0.47

)

—

(0.47

)

2009

11.71

0.03

4.27

4.30

(0.01

)

(0.03

)

(0.02

)

(0.06

)

2010(3)

15.95

(0.05

)

(0.39

)

(0.44

)

—

Class A Shares

2005

17.00

(0.07

)

2.76

2.69

—

(0.61

)

—

(0.61

)

2006

19.08

(0.09

)

2.08

1.99

—

(1.15

)

—

(1.15

)

2007

19.92

(0.03

)

1.91

1.88

—

(2.10

)

—

(2.10

)

2008

19.70

(0.03

)

(7.71

)

(7.74

)

—

(0.47

)

—

(0.47

)

2009

11.49

(0.01

)

4.19

4.18

—

(6)

(0.03

)

—

(6)

(0.03

)

2010(3)

15.64

(0.06

)

(0.39

)

(0.45

)

—

HUNTINGTON TECHNICAL OPPORTUNITIES FUND

Trust Shares

2008(7)

10.00

(0.06

)(8)

(3.31

)

(3.37

)

—

(0.03

)

(0.03

)

2009

6.60

0.05

1.07

1.12

(0.05

)

—

(0.05

)

2010(3)

7.67

(0.02

)

(0.77

)

(0.79

)

—

Class A Shares

2008(7)

10.00

(0.08

)(8)

(3.30

)

(3.38

)

—

(0.03

)

(0.03

)

2009

6.59

0.03

1.06

1.09

(0.03

)

—

(0.03

)

2010(3)

7.65

(0.02

)

(0.77

)

(0.79

)

—

(1)

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

(2)

Portfolio Turnover is calculated on the basis of the Fund as a whole without distinguishing among the classes of shares.

(3)

Six months ended June 30, 2010 (Unaudited).

(4)

Not annualized.

(5)

Computed on an annualized basis.

(6)

Amount less than $0.005.

(7)

Reflects operations for the period from May 1, 2008 (date of commencement of operations) to December 31, 2008.

(8)

Per share net investment income (loss) has been calculated using the average daily shares method.

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

Semi-Annual Shareholder Report

102

Net Asset
Value, end
of period

Total
return(1)

Ratio of Net
Expenses to
Average Net
Assets

Ratio of Net
Investment
Income
(Loss) to
Average
Net Assets

Ratio of Expenses
(Prior to
Reimbursements)
to Average
Net Assets

Net Assets,
at end of
period
(000 omitted)

Portfolio
turnover
rate(2)

$19.24

16.20

1.36

(0.41

1.36

80,212

$20.14

10.73

1.38

(0.34

1.38

89,230

$20.00

9.95

1.32

0.09

1.32

108,350

$11.71

(39.25

1.34

0.06

1.34

77,947

$15.95

36.86

1.38

0.25

1.38

141,342

$15.51

(2.76

)%(4)

1.36

%(5)

(0.61

)%(5)

1.36

%(5)

145,533

%(4)

$19.08

15.87

1.61

(0.66

1.61

5,073

$19.92

10.50

1.64

(0.59

1.64

11,685

$19.70

9.66

1.57

(0.15

1.57

15,658

$11.49

(39.44

1.59

(0.21

1.59

12,121

$15.64

36.52

1.63

(0.01

1.63

16,747

$15.19

(2.88

)%(4)

1.61

%(5)

(0.84

)%(5)

1.61

%(5)

18,939

%(4)

$ 6.60

(33.68

)%(4)

2.58

%(5)

(1.04

)%(5)

2.58

%(5)

6,148

152

%(4)

$ 7.67

16.91

1.94

0.68

1.94

9,644

374

$ 6.88

(10.30

)%(4)

1.92

%(5)

(0.52

)%(5)

1.92

%(5)

9,173

247

%(4)

$ 6.59

(33.81

)%(4)

3.13

%(5)

(1.49

)%(5)

3.13

%(5)

152

%(4)

$ 7.65

16.52

2.20

0.41

2.20

374

$ 6.86

(10.33

)%(4)

2.19

%(5)

(0.66

)%(5)

2.19

%(5)

247

%(4)

Semi-Annual Shareholder Report

103

Financial Highlights (Continued)

Income Funds

(For a share outstanding throughout each period)

Net Asset
Value,

beginning
of period

Net
investment
income

Net realized
and unrealized
gain (loss) on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain
on investment
transactions

Total
distributions

HUNTINGTON FIXED INCOME SECURITIES FUND

Trust Shares

2005

21.23

0.76

(0.37

)

0.39

(0.76

)

(0.07

)

(0.83

)

2006

20.79

0.79

(0.04

)

0.75

(0.78

)

—

(0.78

)

2007

20.76

0.87

0.39

1.26

(0.87

)

—

(3)

(0.87

)

2008

21.15

0.85

0.24

1.09

(0.85

)

(0.05

)

(0.90

)

2009

21.34

0.78

0.34

1.12

(0.78

)

(0.06

)

(0.84

)

2010(4)

21.62

0.35

0.78

1.13

(0.35

)

—

(0.35

)

Class A Shares

2005

21.23

0.71

(0.38

)

0.33

(0.71

)

(0.07

)

(0.78

)

2006

20.78

0.74

(0.03

)

0.71

(0.73

)

—

(0.73

)

2007

20.76

0.82

0.39

1.21

(0.82

)

—

(3)

(0.82

)

2008

21.15

0.80

0.24

1.04

(0.80

)

(0.05

)

(0.85

)

2009

21.34

0.73

0.34

1.07

(0.73

)

(0.06

)

(0.79

)

2010(4)

21.62

0.32

0.78

1.10

(0.32

)

—

(0.32

)

HUNTINGTON INTERMEDIATE GOVERNMENT INCOME FUND

Trust Shares

2005

10.52

0.37

(0.23

)

0.14

(0.38

)

—

(0.38

)

2006

10.28

0.39

(0.04

)

0.35

(0.39

)

—

(3)

(0.39

)

2007

10.24

0.41

0.25

0.66

(0.41

)

—

(0.41

)

2008

10.49

0.41

0.40

0.81

(0.41

)

—

(0.41

)

2009

10.89

0.35

(0.15

)

0.20

(0.35

)

—

(0.35

)

2010(4)

10.74

0.16

0.27

0.43

(0.16

)

—

(0.16

)

Class A Shares

2005

10.52

0.34

(0.23

)

0.11

(0.35

)

—

(0.35

)

2006

10.28

0.35

(0.03

)

0.32

(0.36

)

—

(3)

(0.36

)

2007

10.24

0.38

0.25

0.63

(0.38

)

—

(0.38

)

2008

10.49

0.38

0.40

0.78

(0.38

)

—

(0.38

)

2009

10.89

0.32

(0.15

)

0.17

(0.32

)

—

(0.32

)

2010(4)

10.74

0.16

0.26

0.42

(0.15

)

—

(0.15

)

(1)

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

(2)

Portfolio Turnover is calculated on the basis of the Fund as a whole without distinguishing among the classes of shares.

(3)

Amount is less than $0.005.

(4)

Six months ended June 30, 2010 (Unaudited).

(5)

Not annualized.

(6)

Computed on an annualized basis.

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

Semi-Annual Shareholder Report

104


Net Asset Value, end of period	Total return(1)		Ratio of Net Expenses to Average Net Assets		Ratio of Net Investment Income to Average Net Assets		Ratio of Expenses (Prior to Reimbursements) to Average Net Assets		Net Assets, at end of period (000 omitted)		Portfolio turnover rate(2)


$20.79	1.86	%	1.07	%	3.55	%	1.07	%	$	168,764	59	%
$20.76	3.74	%	1.06	%	3.87	%	1.06	%	$	173,305	55	%
$21.15	6.23	%	1.04	%	4.18	%	1.04	%	$	183,283	42	%
$21.34	5.32	%	1.06	%	4.05	%	1.06	%	$	183,011	31	%
$21.62	5.36	%	1.08	%	3.62	%	1.08	%	$	229,570	30	%
$22.40	5.24	%(5)	1.08	%(6)	3.16	%(6)	1.08	%(6)	$	261,335	18	%(5)

$20.78	1.56	%	1.32	%	3.36	%	1.32	%	$	1,699	59	%
$20.76	3.53	%	1.31	%	3.62	%	1.31	%	$	1,702	55	%
$21.15	5.96	%	1.29	%	3.92	%	1.29	%	$	2,589	42	%
$21.34	5.06	%	1.31	%	3.80	%	1.31	%	$	2,525	31	%
$21.62	5.10	%	1.33	%	3.36	%	1.33	%	$	3,420	30	%
$22.40	5.11	%(5)	1.32	%(6)	2.89	%(6)	1.32	%(6)	$	6,584	18	%(5)


$10.28	1.33	%	1.09	%	3.55	%	1.10	%	$	107,166	34	%
$10.24	3.51	%	1.08	%	3.80	%	1.08	%	$	108,312	32	%
$10.49	6.58	%	1.08	%	3.96	%	1.08	%	$	115,155	30	%
$10.89	7.88	%	1.07	%	3.84	%	1.07	%	$	115,159	27	%
$10.74	1.86	%	1.10	%	3.21	%	1.10	%	$	110,761	26	%
$11.01	4.03	%(5)	1.13	%(6)	2.91	%(6)	1.13	%(6)	$	112,193	16	%(5)

$10.28	1.08	%	1.34	%	3.30	%	1.35	%	$	3,707	34	%
$10.24	3.25	%	1.34	%	3.55	%	1.34	%	$	1,599	32	%
$10.49	6.32	%	1.33	%	3.71	%	1.33	%	$	1,588	30	%
$10.89	7.62	%	1.32	%	3.60	%	1.32	%	$	1,438	27	%
$10.74	1.60	%	1.35	%	2.93	%	1.35	%	$	2,215	26	%
$11.01	3.90	%(5)	1.37	%(6)	2.64	%(6)	1.37	%(6)	$	3,694	16	%(5)

Semi-Annual Shareholder Report

105

Financial Highlights (Continued)

Income Funds (Continued)

(For a share outstanding throughout each period)

Net Asset
Value,

beginning
of period

Net
investment
income

Net realized
and unrealized
gain (loss) on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain
on investment
transactions

Total
distributions

HUNTINGTON MORTGAGE SECURITIES FUND

Trust Shares

2005

9.02

0.29

(0.12

)

0.17

(0.31

)

(0.01

)

(0.32

)

2006

8.87

0.33

0.20

0.53

(0.33

)

(0.06

)

(0.39

)

2007

9.01

0.34

(0.04

)

0.30

(0.36

)

(0.03

)

(0.39

)

2008

8.92

0.34

(0.12

)

0.22

(0.34

)

(0.01

)

(0.35

)

2009

8.79

0.29

0.15

0.44

(0.31

)

—

(0.31

)

2010(3)

8.92

0.14

0.15

0.29

(0.09

)

—

(0.09

)

Class A Shares

2005

9.07

0.26

(0.11

)

0.15

(0.29

)

(0.01

)

(0.30

)

2006

8.92

0.30

0.20

0.50

(0.30

)

(0.06

)

(0.36

)

2007

9.06

0.29

(0.02

)

0.27

(0.33

)

(0.03

)

(0.36

)

2008

8.97

0.32

(0.13

)

0.19

(0.31

)

(0.01

)

(0.32

)

2009

8.84

0.27

0.15

0.42

(0.29

)

—

(0.29

)

2010(3)

8.97

0.12

0.16

0.28

(0.08

)

—

(0.08

)

HUNTINGTON OHIO TAX-FREE FUND

Trust Shares

2005

21.50

0.54

(0.37

)

0.17

(0.54

)

(0.22

)

(0.76

)

2006

20.91

0.58

(0.05

)

0.53

(0.58

)

—

(0.58

)

2007

20.86

0.55

0.10

0.65

(0.55

)

(0.01

)

(0.56

)

2008

20.95

0.57

(0.17

)

0.40

(0.57

)

(0.03

)

(0.60

)

2009

20.75

0.59

0.45

1.04

(0.59

)

—

(0.59

)

2010(3)

21.20

0.25

0.16

0.41

(0.25

)

—

(0.25

)

Class A Shares

2005

21.49

0.49

(0.37

)

0.12

(0.49

)

(0.22

)

(0.71

)

2006

20.90

0.53

(0.06

)

0.47

(0.53

)

—

(0.53

)

2007

20.84

0.50

0.10

0.60

(0.50

)

(0.01

)

(0.51

)

2008

20.93

0.51

(0.16

)

0.35

(0.51

)

(0.03

)

(0.54

)

2009

20.74

0.54

0.44

0.98

(0.54

)

—

(0.54

)

2010(3)

21.18

0.23

0.17

0.40

(0.23

)

—

(0.23

)

(1)

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

(2)

Portfolio Turnover is calculated on the basis of the Fund as a whole without distinguishing among the classes of shares.

(3)

Six months ended June 30, 2010 (Unaudited).

(4)

Not annualized.

(5)

Computed on an annualized basis.

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

Semi-Annual Shareholder Report

106


Net Asset Value, end of period		Total return(1)		Ratio of Net Expenses to Average Net Assets		Ratio of Net Investment Income to Average Net Assets		Ratio of Expenses (Prior to Reimbursements) to Average Net Assets		Net Assets, at end of period (000 omitted)		Portfolio turnover rate(2)


$	8.87	1.96	%	1.12	%	3.34	%	1.12	%	$	81,950	29	%
$	9.01	6.06	%	1.10	%	3.68	%	1.10	%	$	85,995	29	%
$	8.92	3.33	%	1.09	%	3.72	%	1.09	%	$	83,728	17	%
$	8.79	2.45	%	1.10	%	3.82	%	1.10	%	$	82,729	13	%
$	8.92	5.17	%	1.11	%	3.32	%	1.11	%	$	100,114	24	%
$	9.12	3.27	%(4)	1.12	%(5)	3.08	%(5)	1.12	%(5)	$	105,580	11	%(4)

$	8.92	1.68	%	1.36	%	2.03	%	1.36	%	$	1,823	29	%
$	9.06	5.74	%	1.35	%	3.41	%	1.35	%	$	1,683	29	%
$	8.97	3.03	%	1.32	%	3.45	%	1.32	%	$	3,190	17	%
$	8.84	2.16	%	1.35	%	3.55	%	1.35	%	$	3,022	13	%
$	8.97	4.85	%	1.36	%	3.07	%	1.36	%	$	2,629	24	%
$	9.17	3.12	%(4)	1.37	%(5)	2.86	%(5)	1.37	%(5)	$	3,059	11	%(4)


$	20.91	0.85	%	1.16	%	2.56	%	1.17	%	$	45,571	45	%
$	20.86	2.59	%	1.17	%	2.80	%	1.17	%	$	40,319	17	%
$	20.95	3.18	%	1.18	%	2.67	%	1.18	%	$	34,098	15	%
$	20.75	1.95	%	1.22	%	2.73	%	1.22	%	$	32,946	19	%
$	21.20	5.05	%	1.20	%	2.80	%	1.20	%	$	42,568	21	%
$	21.36	1.97	%(4)	1.24	%(5)	2.41	%(5)	1.24	%(5)	$	47,448	7	%(4)

$	20.90	0.59	%	1.41	%	2.32	%	1.42	%	$	3,222	45	%
$	20.84	2.29	%	1.43	%	2.58	%	1.43	%	$	1,686	17	%
$	20.93	2.93	%	1.43	%	2.42	%	1.43	%	$	1,706	15	%
$	20.74	1.74	%	1.47	%	2.49	%	1.47	%	$	1,422	19	%
$	21.18	4.74	%	1.45	%	2.54	%	1.45	%	$	1,745	21	%
$	21.35	1.89	%(4)	1.49	%(5)	2.15	%(5)	1.49	%(5)	$	3,042	7	%(4)

Semi-Annual Shareholder Report

107

Financial Highlights (Continued)

Income Funds (Continued)

(For a share outstanding throughout each period)

Net Asset
Value,
beginning
of period

Net
investment
income

Net realized
and unrealized
gain (loss) on
investments

Total from
investment
operations

Distributions
from net
investment
income

Total
distributions

HUNTINGTON SHORT/INTERMEDIATE FIXED INCOME FUND

Trust Shares

2005

19.56

0.51

(0.41

)

0.10

(0.51

)

(0.51

)

2006

19.15

0.60

0.10

0.70

(0.60

)

(0.60

)

2007

19.25

0.70

0.21

0.91

(0.70

)

(0.70

)

2008

19.46

0.67

(0.59

)

0.08

(0.67

)

(0.67

)

2009

18.87

0.53

0.91

1.44

(0.53

)

(0.53

)

2010(3)

19.78

0.21

0.26

0.47

(0.21

)

(0.21

)

Class A Shares

2005

19.56

0.46

(0.40

)

0.06

(0.46

)

(0.46

)

2006

19.16

0.55

0.10

0.65

(0.55

)

(0.55

)

2007

19.26

0.65

0.20

0.85

(0.65

)

(0.65

)

2008

19.46

0.63

(0.59

)

0.04

(0.63

)

(0.63

)

2009

18.87

0.48

0.91

1.39

(0.48

)

(0.48

)

2010(3)

19.78

0.19

0.27

0.46

(0.19

)

(0.19

)

(1)

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

(2)

Portfolio Turnover is calculated on the basis of the Fund as a whole without distinguishing among the classes of shares.

(3)

Six months ended June 30, 2010 (Unaudited).

(4)

Not annualized.

(5)

Computed on an annualized basis.

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

Semi-Annual Shareholder Report

108


Net Asset Value, end of period		Total return(1)		Ratio of Net Expenses to Average Net Assets		Ratio of Net Investment Income to Average Net Assets		Ratio of Expenses (Prior to Reimbursements) to Average Net Assets		Net Assets, at end of period (000 omitted)		Portfolio turnover rate(2)


$	19.15	0.54	%	1.06	%	2.65	%	1.06	%	$	119,090	31	%
$	19.25	3.70	%	1.07	%	3.11	%	1.07	%	$	95,512	36	%
$	19.46	4.79	%	1.06	%	3.60	%	1.06	%	$	82,730	29	%
$	18.87	0.43	%	1.08	%	3.51	%	1.08	%	$	79,130	51	%
$	19.78	7.70	%	1.09	%	2.67	%	1.09	%	$	149,384	50	%
$	20.04	2.41	%(4)	1.08	%(5)	2.17	%(5)	1.08	%(5)	$	164,295	20	%(4)

$	19.16	0.34	%	1.31	%	2.41	%	1.31	%	$	3,506	31	%
$	19.26	3.44	%	1.33	%	2.80	%	1.33	%	$	668	36	%
$	19.46	4.48	%	1.31	%	3.35	%	1.31	%	$	485	29	%
$	18.87	0.18	%	1.33	%	3.26	%	1.33	%	$	555	51	%
$	19.78	7.43	%	1.33	%	2.38	%	1.33	%	$	1,076	50	%
$	20.05	2.33	%(4)	1.33	%(5)	1.87	%(5)	1.33	%(5)	$	6,269	20	%(4)

Semi-Annual Shareholder Report

109

Financial Highlights (Continued)

Asset Allocation Funds

(For a share outstanding throughout each period)

Net Asset
Value,
beginning
of period

Net
investment
income

Net realized
and unrealized
gain (loss) on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain
on investment
transactions

Total
distributions

HUNTINGTON BALANCED ALLOCATION FUND

2009(2)

10.00

0.05

0.75

0.80

(0.06

)

—

(3)

(0.06

)

2010(7)

10.74

0.04

(0.45

)

(0.41

)

(0.04

)

—

(0.04

)

HUNTINGTON CONSERVATIVE ALLOCATION FUND

2009(2)

10.00

0.08

0.34

0.42

(0.09

)

(0.01

)

(0.10

)

2010(7)

10.32

0.08

0.01

0.09

(0.08

)

—

(0.08

)

HUNTINGTON GROWTH ALLOCATION FUND

2009(2)

10.00

0.04

0.88

0.92

(0.05

)

—

(3)

(0.05

)

2010(7)

10.87

0.02

(0.69

)

(0.67

)

—

(1)

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

(2)

Reflects operations for the period from July 31, 2009 (date of commencement of operations) to December 31, 2009.

(3)

Amount less than $0.005

(4)

Not annualized.

(5)

Computed on an annualized basis.

(6)

Does not include the effect of expenses on underlying funds.

(7)

Six months ended June 30, 2010 (Unaudited).

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

Semi-Annual Shareholder Report

110

Net Asset
Value, end
of period

Total
return(1)

Ratio of Net
Expenses to
Average Net
Assets

Ratio of Net
Investment
Income to
Average Net
Assets

Ratio of Expenses
(Prior to
Reimbursements)
to Average
Net Assets

Net Assets,
at end of
period
(000 omitted)

Portfolio
turnover
rate

$10.74

8.03

%(4)

0.62

%(5)(6)

1.30

%(5)

0.85

%(5)(6)

13,336

$10.29

(3.84

)%(4)

0.63

%(5)(6)

0.80

%(5)

0.75

%(5)(6)

18,210

$10.32

4.13

%(4)

0.72

%(5)(6)

1.91

%(5)

0.86

%(5)(6)

11,248

$10.33

0.85

%(4)

0.76

%(5)(6)

1.51

%(5)

0.80

%(5)(6)

12,636

$10.87

9.21

%(4)

0.52

%(5)(6)

1.03

%(5)

0.85

%(5)(6)

12,923

10.20

(6.16

)%(4)

0.56

%(5)(6)

0.44

%(5)

0.77

%(5)(6)

14,914

Semi-Annual Shareholder Report

111

Notes to Financial Statements

June 30, 2010 (Unaudited)

(1)

Organization

The Huntington Funds (the “Trust”) was originally two separate Massachusetts business trusts: The Huntington Funds, established on February 10, 1987, and Huntington VA Funds, established on June 30, 1999 (together, the “Original Trusts”). On June 23, 2006, the Original Trusts were reorganized into a single Delaware statutory trust retaining the name of The Huntington Funds. The Trust is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. At June 30, 2010, the Trust operated 36 separate series, or mutual funds, each with its own investment objective and strategy. The Funds’ prospectus provides a description of each Fund’s investment objectives, policies and strategies along with information on the classes of shares currently being offered. This report contains financial statements and financial highlights of the retail funds listed below (individually referred to as a “Fund,” or collectively as the “Funds”):


*Funds*		Investment Share Classes Offered*
Huntington Tax-Free Money Market Fund (“Tax-Free Money Market Fund”)		Trust & A
Huntington Money Market Fund (“Money Market Fund”)		Trust, A, & Interfund
Huntington Ohio Municipal Money Market Fund (“Ohio Municipal Money Market Fund”)		Trust & A
Huntington U.S. Treasury Money Market Fund (“U.S. Treasury Money Market Fund”)		Trust & A
Huntington Dividend Capture Fund (“Dividend Capture Fund”)		Trust & A
Huntington Global Select Markets Fund (“Global Select Markets Fund”)		Trust & A
Huntington Growth Fund (“Growth Fund”)		Trust & A
Huntington Income Equity Fund (“Income Equity Fund”)		Trust & A
Huntington International Equity Fund (“International Equity Fund”)		Trust & A
Huntington Macro 100 Fund (“Macro 100 Fund”)		Trust & A
Huntington Mid Corp America Fund (“Mid Corp America Fund”)		Trust & A
Huntington New Economy Fund (“New Economy Fund”)		Trust & A
Huntington Real Strategies Fund (“Real Strategies Fund”)		Trust & A
Huntington Rotating Markets Fund (“Rotating Markets Fund”)		Trust & A
Huntington Situs Fund (“Situs Fund”)		Trust & A
Huntington Technical Opportunities Fund (“Technical Opportunities Fund”)		Trust & A
Huntington Fixed Income Securities Fund (“Fixed Income Securities Fund”)		Trust & A
Huntington Intermediate Government Income Fund (“Intermediate Government Income Fund”)		Trust & A
Huntington Mortgage Securities Fund (“Mortgage Securities Fund”)		Trust & A
Huntington Ohio Tax-Free Fund (“Ohio Tax-Free Fund”)		Trust & A


*Funds*		Investment Share Classes Offered*
Huntington Short/Intermediate Fixed Income Securities Fund (“Short/Intermediate Fixed Income Securities Fund”)		Trust & A
Huntington Balanced Allocation Fund (“Balanced Allocation Fund”)		A
Huntington Conservative Allocation Fund (“Conservative Allocation Fund”)		A
Huntington Growth Allocation Fund (“Growth Allocation Fund”)		A

Each class of shares has exclusive voting rights with respect to matters that affect just that class. The assets of each Fund are segregated and a shareholder’s interest is limited to the Fund in which shares are held. Effective May 1, 2010, the Institutional Shares were renamed Trust Shares. Effective June 4, 2010, sales of Class B Shares ceased. Additionally, on June 29, 2010, Class B Shares were converted to Class A Shares.

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 may enter 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 generally accepted accounting principles in the United States of America (“GAAP”). 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 estimates.

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 the NAV for each of the Funds (other than the Money Market Funds) by valuing securities held based on fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

For the Money Market Funds, the Trust attempts to stabilize the NAV per share at $1.00 per share by valuing portfolio

Semi-Annual Shareholder Report

112

securities using the amortized cost method, which approximates market value. Under the amortized cost method, premium or discount, if any, is amortized or accreted, respectively, on a constant (straight-line) basis to the maturity of the security.

In computing the NAV of the Funds, other than the Money Market Funds, fair value is based on market valuations with respect to portfolio securities for which market quotations are readily available. Pursuant to Trustee-approved policies, the Trust relies on certain security pricing services to provide current market value of securities. Those security pricing services value equity securities (including foreign equity securities) traded on a securities exchange at the last reported sales price on the principal exchange. Equity securities quoted by NASDAQ are valued at the NASDAQ official closing price. If there is no reported sale on the principal exchange, and in the case of over-the-counter securities, equity securities are valued at a bid price estimated by the security pricing service. Option contracts are generally valued at the mean of the bid and asked price as reported on the highest volume exchange (in terms of the number of options contracts traded for that issue) on which such options are traded.

Debt securities traded on a national securities exchange or in the over-the-counter market are valued at the last reported sales price on the principal exchange, except that U.S. government obligations held by Mortgage Securities Fund are valued at the mean between the over-the-counter bid and asked prices furnished by the security pricing service. If there is no reported sale on the principal exchange, and for all other debt securities, debt securities are valued at a bid price estimated by the security pricing service. Foreign securities quoted in foreign currencies are translated in U.S. dollars at the foreign exchange rate in effect as of the close of the New York Stock Exchange (NYSE) (generally 4:00 p.m. Eastern Time), on the day the value of the foreign security is determined. Short-term investments with remaining maturities of 60 days or less at the time of purchase are valued at amortized cost. Investments in other open-end investment companies are valued at the NAV.

Under certain circumstances, a good faith determination of the fair value of a security may be used instead of its current market value, even if the security’s market price is readily available. In such circumstances, the Trust’s Sub-Financial Administrator may request that the Trust’s Pricing Committee make its own fair value determination.

tender offer transaction), the value of other securities or contracts which derive their value from the security at issue, and the implications of any other circumstances which have caused trading in the security to halt. With respect to certain narrow categories of securities, the procedures utilized by the Pricing Committee detail specific valuation methodologies to be applied in lieu of considering the aforementioned list of factors.

Fair valuation procedures are also used when a significant event affecting the value of a portfolio security is determined to have occurred between the time when the price of the portfolio security is determined and the close of trading on the NYSE, which is when each Fund’s NAV is computed. An event is considered significant if there is both an affirmative expectation that the security’s value will change in response to the event and a reasonable basis for quantifying the resulting change in value. Significant events include significant securities market movements occurring between the time the price of the portfolio security is determined and the close of trading on the NYSE. For domestic fixed income securities, such events may occur where the cut-off time for the market information used by the independent pricing service is earlier than the end of regular trading on the NYSE. For securities normally priced at their last sale price in a foreign market, such events can occur between the close of trading in the foreign market and the close of trading on the NYSE.

In some cases, events affecting the issuer of a portfolio security may be considered significant events. Examples of potentially significant events include announcements concerning earnings, acquisitions, new products, management changes, litigation developments, a strike or natural disaster affecting the company’s operations or regulatory changes or market developments affecting the issuer’s industry occurring between the time when the price of the portfolio security is determined and the close of trading on the NYSE. For securities of foreign issuers, such events could also include political or other developments affecting the economy or markets in which the issuer conducts its operations or its securities are traded.

The Funds’ Trustees have authorized the use of an independent fair valuation service to monitor changes in a designated U.S. market index after foreign markets close, and to implement a fair valuation methodology to adjust the closing prices of foreign securities if the movement in the index is significant.

There can be no assurance that a Fund could purchase or sell a portfolio security at the price used to calculate the Fund’s NAV. In the case of good faith fair valued portfolio securities, lack of information and uncertainty as to the significance of information may lead to a conclusion that a prior valuation is the best indication of a portfolio security’s present value. Good faith fair valuations generally remain unchanged until new information becomes available. Consequently, changes in good faith fair valuation of portfolio securities may be less frequent and of greater magnitude than changes in the price of portfolio securities valued at their last sale price, by an independent pricing service, or based on market quotations.

Semi-Annual Shareholder Report

113

Notes to Financial Statements (Continued)

The valuation techniques described above maximize the use of observable inputs and minimize the use of unobservable inputs in determining fair value. The inputs used for valuing the Funds’ investments are summarized in the three broad levels listed below:

•

Level 1—quoted prices in active markets for identical assets.

•

Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

•

Level 3—significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.

Pursuant to the valuation procedures noted previously, equity securities (including foreign equity securities) are generally categorized as a Level 1 security in the fair value hierarchy (unless there is a fair valuation event, in which case affected securities are generally categorized as a Level 2 security). Option securities are generally categorized as a Level 1 security in the fair value hierarchy (unless there is a fair valuation event, in which case affected securities are generally categorized as a Level 2 security). Debt securities (including foreign issued debt) are generally categorized as a Level 2 security in the fair value hierarchy. Certificates of Deposit, Time Deposits and Repurchase Agreements are all generally categorized as a Level 2 security in the fair value hierarchy. Mutual Funds, Exchange Traded Funds and cash equivalents are generally categorized as a Level 1 security in the fair value hierarchy (unless there is a fair valuation event, in which case affected securities are generally categorized as a Level 2 security).

The following is a summary of the inputs used to value the Funds’ investments as of June 30, 2010, while the breakdown, by category, of common stocks is disclosed in the Portfolio of Investments for each Fund:

LEVEL 1—Quoted Prices

LEVEL 2—Other Significant
Observable Inputs

Total

Fund Name

Securities

Other
Financial
Investments*

Securities

Other
Financial
Investments*

Securities

Other
Financial
Investments*

Tax-Free Money Market Fund

Municipal Bonds

—

100,873,458

—

100,873,458

—

Cash Equivalents

8,829,279

—

8,829,279

—

Total

8,829,279

—

100,873,458

—

109,702,737

—

Money Market Fund

��

Corporate Bonds

—

36,549,025

—

36,549,025

—

U.S. Government Agencies

—

119,502,467

—

119,502,467

—

U.S. Treasury Obligations

—

9,990,433

—

9,990,433

—

Municipal Bonds

—

79,365,000

—

79,365,000

—

Commercial Papers

—

4,996,242

—

4,996,242

—

Certificates of Deposit

—

80,000,000

—

80,000,000

—

Cash Equivalents

47,500,000

—

47,500,000

—

Time Deposits

—

37,000,000

—

37,000,000

—

Repurchase Agreements

—

29,240,600

—

29,240,600

—

Total

47,500,000

—

396,643,767

—

444,143,767

—

Ohio Municipal Money Market Fund

Municipal Bonds

—

215,119,970

—

215,119,970

—

Cash Equivalents

1,721,483

—

1,721,483

—

Total

1,721,483

—

215,119,970

—

216,841,453

—

U.S Treasury Money Market Fund

U.S. Treasury Obligations

—

249,753,886

—

249,753,886

—

Repurchase Agreements

—

120,316,200

—

120,316,200

—

Total

—

370,070,086

—

370,070,086

—

Dividend Capture Fund

Common Stocks

60,617,377

—

60,617,377

—

Preferred Stocks

20,872,858

—

1,137,659

(1)

—

22,010,517

—

Mutual Funds

1,122,000

—

1,122,000

—

Cash Equivalents

2,893,485

—

2,893,485

—

Total

85,505,720

—

1,161,563

—

86,643,379

—

Global Select Markets Fund

Common Stocks

18,841,299

—

18,841,299

—

Foreign Bonds

—

1,102,021

—

1,102,021

—

U.S. Treasury Obligations

—

600

—

600

—

Mutual Funds

1,264,613

—

1,264,613

—

Cash Equivalents

2,823,744

—

2,823,744

—

Written Options

—

(36,075

)

—

(36,075

)

Total

22,929,656

(36,075

)

1,102,621

—

24,032,277

(36,075

)

Semi-Annual Shareholder Report

114

LEVEL 1—Quoted Prices

LEVEL 2—Other Significant
Observable Inputs

Total

Fund Name

Securities

Other
Financial
Investments*

Securities

Other
Financial
Investments*

Securities

Other
Financial
Investments*

Growth Fund

Common Stocks

117,940,693

—

117,940,693

—

Cash Equivalents

237,622

—

237,622

—

Total

118,178,315

—

118,178,315

—

Income Equity Fund

Common Stocks

94,375,137

—

94,375,137

—

Cash Equivalents

2,002,587

—

2,002,587

—

Written Options

—

(29,275

)

—

(29,275

)

Total

96,377,724

(29,275

)

—

96,377,724

(29,275

)

International Equity Fund

Common Stocks

234,892,332

—

234,892,332

—

Mutual Funds

13,678,825

—

13,678,825

—

Cash Equivalents

15,464,486

—

15,464,486

—

Total

264,035,643

—

264,035,643

—

Macro 100 Fund

Common Stocks

32,851,556

—

32,851,556

—

Cash Equivalents

4,072,653

—

4,072,653

—

Total

36,924,209

—

36,924,209

—

Mid Corp America Fund

Common Stocks

125,536,337

—

125,536,337

—

Cash Equivalents

6,360,313

—

6,360,313

—

Total

131,896,650

—

131,896,650

—

New Economy Fund

Common Stocks

47,408,180

—

47,408,180

—

Cash Equivalents

3,179,379

—

3,179,379

—

Written Options

(970,830

)

—

(970,830

)

Total

50,587,559

(970,830

)

—

50,587,559

(970,830

)

Real Strategies Fund

Common Stocks

61,596,921

—

61,596,921

—

Corporate Bonds

—

792,600

—

792,600

—

Mutual Funds

6,575,446

—

6,575,446

—

Options Purchased

81,550

—

81,550

—

Cash Equivalents

6,549,842

—

6,549,842

—

Written Options

—

(2,020,775

)

—

(2,020,775

)

Total

74,803,759

(2,020,775

)

792,600

—

75,596,359

(2,020,775

)

Rotating Markets Fund

Mutual Funds

32,287,869

—

32,287,869

—

Cash Equivalents

2,685,611

—

2,685,611

—

Total

34,973,480

—

34,973,480

—

Situs Fund

Common Stocks

152,837,043

—

152,837,043

—

Mutual Funds

1,430,350

—

1,430,350

—

Cash Equivalents

10,265,167

—

10,265,167

—

Written Options

—

(64,950

)

—

(64,950

)

Total

164,532,560

(64,950

)

—

164,532,560

(64,950

)

Technical Opportunities Fund

Common Stocks

1,908,446

—

1,908,446

—

Mutual Funds

7,095,777

—

7,095,777

—

Cash Equivalents

248,999

—

248,999

—

Total

9,253,222

—

9,253,222

—

Fixed Income Securities Fund

Corporate Bonds

—

139,462,526

—

139,462,526

—

U.S. Government Agencies

—

74,695,519

—

74,695,519

—

U.S. Treasury Obligations

—

38,739,218

—

38,739,218

—

U.S. Government Mortgage Backed Agencies

—

7,231,672

—

7,231,672

—

Preferred Stocks

806,299

—

806,299

—

Cash Equivalents

7,536,989

—

7,536,989

—

Total

8,343,288

—

260,128,935

—

268,472,223

—

Semi-Annual Shareholder Report

115

Notes to Financial Statements (Continued)

LEVEL 1—Quoted Prices

LEVEL 2—Other Significant
Observable Inputs

Total

Fund Name

Securities

Other
Financial
Investments*

Securities

Other
Financial
Investments*

Securities

Other
Financial
Investments*

Intermediate Government Income Fund

Corporate Bonds

—

2,044,430

—

2,044,430

—

U.S. Government Agencies

—

57,539,924

—

57,539,924

—

U.S. Government Mortgage Backed Agencies

—

27,080,133

—

27,080,133

—

U.S. Treasury Obligations

—

13,793,159

—

13,793,159

—

Collateralized Mortgage Obligations

—

11,785,683

—

11,785,683

—

Cash Equivalents

3,129,339

—

3,129,339

—

Total

3,129,339

—

112,243,329

—

115,372,668

—

Mortgage Securities Fund

U.S. Government Mortgage Backed Agencies

—

66,560,386

—

66,560,386

—

Common Stocks

9,544,231

—

9,544,231

—

U.S. Government Agencies

—

6,867,136

—

6,867,136

—

Collateralized Mortgage Obligations

—

22,499,001

—

22,499,001

—

Cash Equivalents

3,080,282

—

3,080,282

—

Total

12,624,513

—

��

95,926,523

—

108,551,036

—

Ohio Tax-Free Fund

Municipal Bonds

—

49,676,870

—

49,676,870

—

Cash Equivalents

985,862

—

985,862

—

Total

985,862

—

49,676,870

—

50,662,732

—

Short/Intermediate Fixed Income Securities Fund

Corporate Bonds

—

110,207,555

—

110,207,555

—

U.S. Government Agencies

—

51,377,847

—

51,377,847

—

U.S. Treasury Obligations

—

5,026,750

—

5,026,750

—

Cash Equivalents

3,089,077

—

3,089,077

—

Total

3,089,077

—

166,612,152

—

169,701,229

—

Balanced Allocation Fund

Mutual Funds

18,004,534

—

18,004,534

—

Cash Equivalents

258,794

—

258,794

—

Total

18,263,328

—

18,263,328

—

Conservative Allocation Fund

Mutual Funds

12,668,984

—

12,668,984

—

Total

12,668,984

—

12,668,984

—

Growth Allocation Fund

Mutual Funds

14,702,582

—

14,702,582

—

Cash Equivalents

194,661

—

194,661

—

Total

14,897,243

—

14,897,243

—

*	Other financial investments are derivative instruments not reflected on the Portfolio of Investments, such as written options contracts.

(1)

Consists of Allianz SE, 8.375% listed under Financials.

As of June 30, 2010, there were no significant transfers between levels from the valuation input levels used on March 31, 2010.

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 Huntington Asset Advisors, Inc., a subsidiary of The Huntington National Bank, 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.	*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

Semi-Annual Shareholder Report

116

occur on these transactions due to changes in market conditions or the failure of counterparties to perform under the contract.

D.	*Foreign Currency Translation*

The accounting records of the Funds are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars at the current rate of exchange each business day to determine the value of investments, and other assets and liabilities. Purchases and sales of foreign securities, and income and expenses, are translated at the prevailing rate of exchange on the respective date of these transactions. The Funds do not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. These fluctuations are included with the net realized and unrealized gain or loss from investments and foreign currency transactions.

E.	*Derivative Instruments*

Certain of the Funds may be subject to equity price risk and foreign currency exchange risk in the normal course of pursuing investment objectives. Certain of the Funds may invest in various financial instruments including positions in foreign currency contracts and written option contracts to gain exposure to or hedge against changes in the value of equities or foreign currencies. The following is a description of the derivative instruments utilized by the Funds, including the primary underlying risk exposure related to each instrument type.

Foreign Exchange Contracts—Global Select Markets Fund, International Equity Fund, Real Strategies Fund, Situs Fund and Technical Opportunities Fund may enter into foreign

exchange contracts. A forward foreign exchange contract involves an obligation to purchase or sell a specific currency at a future date at a price set at the time of the contract. Such contracts are used to sell unwanted currency exposure that comes with holding securities in a market, or to buy currency exposure where the exposure from holding securities is insufficient to provide the desired currency exposure. The contracts are marked-to-market daily and the change in market value is recorded as unrealized appreciation or depreciation. When a forward currency contract is closed, a Fund records a realized gain or loss equal to the difference between the value at the time it was opened and the value at the time it was closed. These unrealized and realized gains and losses are reported on the Statement of Operations. The Funds could be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts and from unanticipated movements in the exchange rates. At June 30, 2010, Global Select Markets Fund, International Equity Fund, Real Strategies Fund, Situs Fund and Technical Opportunities Fund did not have any forward foreign exchange contracts outstanding.

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 the amount paid on the transaction to determine realized gains or losses. Investing in written options contracts exposes a Fund to equity price risk.

The following is a summary of Dividend Capture Fund’s written option activity for the period ended June 30, 2010:


*Contracts*	Number of Contracts		*Premium*
Outstanding at 12/31/2009	400		$	94,118
Options written	—			—
Options expired	—			—
Options closed	(300	)		(69,349	)
Options exercised	(100	)		(24,769	)
Outstanding at 6/30/2010	—		$	—

At June 30, 2010, Dividend Capture Fund had no outstanding options.

The following is a summary of Global Select Markets Fund written option activity for the period ended June 30, 2010:


*Contracts*	Number of Contracts		*Premium*
Outstanding at 12/31/2009	—		$	—
Options written	758			118,001
Options expired	(361	)		(45,100	)
Options closed	(50	)		(7,100	)
Options exercised	(247	)		(39,558	)
Outstanding at 6/30/2010	100		$	26,243

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117

Notes to Financial Statements (Continued)

At June 30, 2010, Global Select Markets had the following outstanding options:

WRITTEN OPTION CONTRACTS

Contract

Type

Expiration
Date

Exercise
Price

Number of
Contracts

Fair
Value

Unrealized
Depreciation

Baidu, Inc.

Put

July 2010

15,400

(2,737

)

Infosys Technologies, Ltd.

Put

July 2010

62.5

12,425

(3,255

)

Rio Tinto PLC

Put

July 2010

8,250

(3,840

)

NET UNREALIZED DEPRECIATION ON WRITTEN OPTION CONTRACTS

(9,832

)

The following is a summary of Growth Fund’s written option activity for the period ended June 30, 2010:


*Contracts*	Number of Contracts		*Premium*
Outstanding at 12/31/2009	4,207		$	529,707
Options written	3,049			590,113
Options expired	(963	)		(125,422	)
Options closed	(4,003	)		(562,614	)
Options exercised	(2,290	)		(431,784	)
Outstanding at 6/30/2010	—		$	—

At June 30, 2010, Growth Fund had no outstanding options.

The following is a summary of Income Equity Fund’s written option activity for the period ended June 30, 2010:


*Contracts*	Number of Contracts		*Premium*
Outstanding at 12/31/2009	700		$	86,191
Options written	5,690			237,110
Options expired	(1,385	)		(60,070	)
Options closed	(465	)		(32,993	)
Options exercised	(700	)		(86,191	)
Outstanding at 6/30/2010	3,840		$	144,047

At June 30, 2010, Income Equity Fund had the following outstanding options:

WRITTEN OPTION CONTRACTS

Contract

Type

Expiration
Date

Exercise
Price

Number of
Contracts

Fair
Value

Unrealized
Appreciation

AstraZeneca PLC

Call

July 2010

430

12,900

8,170

HCP, Inc.

Call

July 2010

570

9,975

12,259

Intel Corp.

Call

July 2010

630

945

15,435

Microsoft Corp.

Call

July 2010

660

330

30,030

Time Warner, Inc.

Call

July 2010

500

2,500

21,054

XL Capital, Ltd.

Call

July 2010

1,050

2,625

27,824

NET UNREALIZED APPRECIATION ON WRITTEN OPTION CONTRACTS

114,772

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118

The following is a summary of Macro 100 Fund written option activity for the period ended June 30, 2010:


*Contracts*	Number of Contracts		*Premium*
Outstanding at 12/31/2009	89		$	8,174
Options written	—			—
Options expired	(89	)		(8,174	)
Options closed	—			—
Options exercised	—			—
Outstanding at 6/30/2010	—		$	—

At June 30, 2010, Macro 100 Fund had no outstanding options.

The following is a summary of Mid Corp America Fund’s written option activity for the period ended June 30, 2010:


*Contracts*	Number of Contracts		*Premium*
Outstanding at 12/31/2009	—		$	—
Options written	755			97,019
Options expired	(560	)		(71,179	)
Options closed	—			—
Options exercised	(195	)		(25,840	)
Outstanding at 6/30/2010	—		$	—

At June 30, 2010, Mid Corp America Fund had no outstanding options.

The following is a summary of New Economy Fund’s written option activity for the period ended June 30, 2010:


*Contracts*	Number of Contracts		*Premium*
Outstanding at 12/31/2009	354		$	92,691
Options written	4,370			2,144,879
Options expired	(125	)		(47,124	)
Options closed	(1,937	)		(830,364	)
Options exercised	(143	)		(19,830	)
Outstanding at 6/30/2010	2,519		$	1,340,252

At June 30, 2010, New Economy Fund had the following outstanding options:

WRITTEN OPTION CONTRACTS

Contract

Type

Expiration
Date

Exercise
Price

Number of
Contracts

Fair
Value

Unrealized
Appreciation
(Depreciation)

Advance Auto Parts, Inc.

Call

Sep 2010

44,160

8,072

Ashland, Inc.

Call

Jul 2010

4,250

23,100

Bucyrus International, Inc.

Call

Oct 2010

128

83,520

12,734

Cree, Inc.

Call

Sep 2010

139

59,422

74,117

Cytec Industries, Inc.

Call

Aug 2010

43,215

(8,577

)

F5 Networks, Inc.

Call

Jul 2010

127

66,675

23,112

FactSet Research Systems, Inc.

Call

Sep 2010

5,945

14,279

Forest Oil Corp.

Call

Nov 2010

118

31,565

8,200

Helmerich & Payne, Inc.

Call

Sep 2010

37.5

162

44,550

29,483

Intuitive Surgical, Inc.

Call

Oct 2010

340

29,750

7,447

Lubrizol Corp.

Call

Sep 2010

19,865

8,178

Semi-Annual Shareholder Report

119

Notes to Financial Statements (Continued)

Contract

Type

Expiration
Date

Exercise
Price

Number of
Contracts

Fair
Value

Unrealized
Appreciation
(Depreciation)

Lululemon Athletica, Inc.

Call

Sep 2010

188

106,220

32,892

NewMarket Corp.

Call

Sep 2010

36,960

25,345

O’Reilly Automotive, Inc.

Call

Aug 2010

107

42,800

34,988

Patterson-UTI Energy, Inc.

Call

Nov 2010

423

33,840

7,190

Pride International, Inc.

Call

Oct 2010

22.5

115

27,025

230

Salesforce.com, Inc.

Call

Aug 2010

62,350

(8,585

)

SanDisk Corp.

Call

Jul 2010

32,318

9,199

True Religion Apparel, Inc.

Call

Oct 2010

270

41,850

41,039

Unit Corp.

Call

Sep 2010

19,500

8,944

Veeco Instruments, Inc.

Call

Oct 2010

64,670

(19,025

)

VMware, Inc., Class A

Call

Oct 2010

28,800

14,159

Wynn Resorts Ltd.

Call

Sep 2010

41,580

22,901

NET UNREALIZED APPRECIATION ON WRITTEN OPTION CONTRACTS

369,422

The following is a summary of Real Strategies Fund’s written option activity for the period ended June 30, 2010:


*Contracts*	Number of Contracts		*Premium*
Outstanding at 12/31/2009	3,327		$	449,858
Options written	14,474			3,382,180
Options expired	(5,343	)		(663,231	)
Options closed	(7,890	)		(1,797,730	)
Options exercised	(818	)		(103,376	)
Outstanding at 6/30/2010	3,750		$	1,267,701

At June 30, 2010, Real Strategies Fund had the following outstanding options:

WRITTEN OPTION CONTRACTS

Contract

Type

Expiration
Date

Exercise
Price

Number of
Contracts

Fair
Value

Unrealized
Appreciation
(Depreciation)

Allegheny Technologies, Inc.

Put

July 2010

200

217,000

(129,601

)

CF Industries Holdings, Inc.

Put

August 2010

125

158,437

18,809

Consol Energy, Inc.

Put

July 2010

200

127,000

(80,601

)

Devon Energy Corp.

Put

July 2010

67.5

125

84,688

(68,026

)

iShares Silver Trust

Put

January 2011

600

53,400

80,398

Massey Energy Co.

Put

October 2010

300

477,000

(300,903

)

Oil Services Holders Trust

Put

July 2010

99.1

100

61,250

(21,551

)

Peabody Energy Corp.

Put

September 2010

200

110,000

(25,501

)

Petroleo Brasileiro SA

Put

July 2010

300

171,000

(80,401

)

Suntech Power Holdings Co. Ltd.

Put

July 2010

600

288,000

(48,062

)

United States National Gas Fund

Put

January 2011

1,000

273,000

(97,635

)

NET UNREALIZED DEPRECIATION ON WRITTEN OPTION CONTRACTS

(753,074

)

Semi-Annual Shareholder Report

120

The following is a summary of Situs Fund’s written option activity for the period ended June 30, 2010:


*Contracts*	Number of Contracts		*Premium*
Outstanding at 12/31/2009	16,927		$	2,771,876
Options written	—			—
Options expired	(4,478	)		(634,433	)
Options closed	(1,972	)		(329,551	)
Options exercised	(9,077	)		(1,550,699	)
Outstanding at 6/30/2010	1,400		$	257,193

At June 30, 2010, Situs Fund had the following outstanding options:

WRITTEN OPTION CONTRACTS

Contract

Type

Expiration
Date

Exercise
Price

Number of
Contracts

Fair
Value

Unrealized
Appreciation

Honda Motor Co., Ltd.

Call

July 2010

300

1,500

60,598

Jacobs Engineering Group, Inc.

Call

July 2010

520

15,600

123,236

UGI Corp.

Call

July 2010

580

47,850

8,409

NET UNREALIZED APPRECIATION ON WRITTEN OPTION CONTRACTS

192,243

The following tables provide a summary of the fair value of derivative instruments, not accounted for as hedging instruments, as of June 30, 2010, and the effect of derivative instruments on the Statements of Operations for the period ended June 30, 2010.

Fair Value of Derivative Instruments as of June 30, 2010 is as follows:


	*Asset Derivatives*	*Liability Derivatives*
*Primary Risk Exposure*	Statements of Assets and Liabilities Location	Statements of Assets and Liabilities Location	*Fund*	*Fair Value*
Option Contracts	Investments, at value		Real Strategies Fund	$	81,550
		Options Written, at value	Global Select Markets Fund		36,075
			Income Equity Fund		29,275
			New Economy Fund		970,830
			Real Strategies Fund		2,020,775
			Situs Fund		64,950

The effect of Derivative Instruments on the Statements of Operations for the period ended June 30, 2010 is as follows:

Primary Risk Exposure

Location of Gain (Loss)
on Derivatives
Recognized in Income

Fund

Realized Gain (Loss)
on Derivatives
Recognized in Income

Change in Unrealized
Appreciation/Depreciation
on Derivatives
Recognized in Income

Option Contracts

Net Realized gain (loss) on option transactions/net change in unrealized appreciation/depreciation of investments and options

Dividend Growth Fund

45,345

(27,118

)

Global Select Markets Fund

51,649

(9,832

)

Growth Fund

111,105

427,217

Income Equity Fund

(61,632

)

99,956

Macro 100 Fund

8,174

(5,539

)

Mid Corp America Fund

136,715

—

New Economy Fund

(67,180

)

366,891

Real Strategies Fund

575,145

(777,545

)

Situs Fund

825,769

436,582

Derivative positions open during the period and at period end are reflected for each Fund in the tables above. The volume of these positions relative to each Fund’s net assets at the close of the reporting period is generally higher than the volume of such positions at the beginning of the reporting period. The Funds value derivative instruments at fair value and recognize changes in fair value currently in the results of operations.

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121

Notes to Financial Statements (Continued)

F.	*Securities Lending*

securities or possible loss of rights in the collateral should the borrower fail financially. Although the loan is fully collateralized, if a borrower defaults, a Fund could lose money. 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. Loans are subject to termination by the Funds or the borrower at any time and, therefore, are not considered to be illiquid investments. Brown Brothers Harriman (“BBH”) serves as the sub-custodian for the securities lending. BBH retains a portion of the earnings from the investment and reinvestment of cash collateral and a portion of any loan fees paid by borrowers with respect to securities loans.

As of June 30, 2010, the Funds were not participating in a securities lending program.

G.	*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. The Funds will not incur any registration costs upon such resale. The Funds’ restricted securities are valued at the price provided by dealers in the secondary market or, if no market prices are available, at the fair value as determined by the Trust’s Pricing Committee. At June 30, 2010, the Fixed Income Securities Fund and Short/Intermediate Fixed Income Securities Fund held illiquid restricted securities representing 2.92% and 2.44% of net assets, respectively, as listed below:


*Issuer Description*	*Acquisition Date*	*Principal Amount ($)*	*Cost ($)*	*Value ($)*
*Fixed Income Securities Fund:*
Barrick International Bank Corp., 5.750%, 10/15/16	12/17/09	2,000,000	1,919,640	2,215,090
MBNA America Bank Corp. N.A., 7.125%, 11/15/12	6/20/06	3,000,000	3,205,500	3,266,595
Verizon Wireless, 7.375%, 11/15/13	(a)	2,000,000	2,084,550	2,344,706
*Short/Intermediate Fixed Income Securities Fund:*
American Express Co., 5.250%, 11/21/11	(b)	2,000,000	1,974,280	2,078,048
MetLife Global Funding I, 5.125%, 11/9/11	3/5/08	2,000,000	2,060,600	2,079,080

(a)

Purchased on various dates beginning 11/20/08.

(b)

Purchased on various dates beginning 1/13/09.

H.	*Security Transactions and Related Income*

During the period, investment transactions are accounted for no later than the first calculation of the NAV on the business day following the trade date. For financial reporting purposes, however, security transactions are accounted for on the trade date on the last business day of the reporting period. 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, less foreign tax withholding (if any), are recorded on the ex-dividend date.

I.	*Dividends and Distributions to Shareholders*

Dividends from net investment income are declared daily and paid monthly for the Funds except as follows: Dividend Capture Fund, Income Equity Fund, Mortgage Securities Fund

and Conservative Allocation Fund declare and pay dividends, if any, monthly; Global Select Markets Fund, International Equity Fund, Macro 100 Fund, Mid Corp America Fund, New Economy Fund, Rotating Markets Fund, Situs Fund Technical Opportunities Fund and Growth Allocation Fund declare and pay dividends, if any, annually; and Growth Fund, Real Strategies Fund and Balanced Allocation Fund declare and pay dividends, if any, quarterly. 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. foreign

Semi-Annual Shareholder Report

122

currency gain/loss, paydowns, distributions and income received from pass through investments, and net investment loss adjustments), such amounts are reclassified within the capital accounts based on their nature for federal income tax purposes; temporary differences do not require reclassification. Temporary differences are primarily due to market discounts, capital loss carryforwards and losses deferred due to wash sales, straddles, and return of capital from investments.

Certain of the Funds may own shares of real estate investments trusts (“REITs”) which report information on the source of their distributions annually. Distributions received from investments in REITs in excess of income from underlying investments are recorded as realized gain and/or as a reduction to the cost of the individual REIT.

J.	*Allocation of Expenses, Income, and Gains and Losses*

Expenses directly attributable to a Fund are charged to that Fund. Expenses specific to a class are charged to that class. Except for the daily dividend Funds, 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. For the daily dividend Funds, expenses not directly attributable to a Fund are allocated pursuant to the “settled shares method.” Income and realized and unrealized gains or losses on investments are allocated to each class of shares based on its relative net assets.

K.	*Federal Income Taxes*

Withholding taxes on foreign interest, dividends and capital gains with respect to Global Select Markets Fund, International Equity Fund, Real Strategies Fund, Situs Fund and Technical Opportunities Fund have been provided for in accordance with each applicable country’s tax rules and rates.

As of June 30, 2010, the tax cost of securities and the breakdown of unrealized appreciation (depreciation) for each Fund was as follows:

Fund

Tax Cost of
Securities

Unrealized
Appreciation

Unrealized
Depreciation

Net Unrealized
Appreciation/
(Depreciation)*

Tax-Free Money Market Fund

109,702,737

—

Money Market

444,143,767

—

Ohio Municipal Money Market Fund

216,841,453

—

U.S. Treasury Money Market Fund

370,070,086

—

Dividend Capture Fund

86,343,720

4,682,043

(4,382,384

)

299,659

Global Select Markets Fund

25,116,100

492,871

(1,576,694

)

(1,083,823

)

Growth Fund

114,969,343

8,944,721

(5,735,749

)

3,208,972

Income Equity Fund

96,522,044

6,427,574

(6,571,894

)

(144,320

)

International Equity Fund

260,712,223

23,358,824

(20,035,404

)

3,323,420

Macro 100 Fund

36,663,355

3,328,489

(3,067,635

)

260,854

Mid Corp America Fund

97,658,563

40,955,228

(6,717,141

)

34,238,087

New Economy Fund

52,560,283

2,747,650

(4,720,374

)

(1,972,724

)

Real Strategies Fund

93,833,584

3,043,500

(21,280,725

)

(18,237,225

)

Rotating Markets Fund

37,391,152

41,618

(2,459,290

)

(2,417,672

)

Situs Fund

150,529,698

27,210,096

(13,207,234

)

14,002,862

Technical Opportunities Fund

9,749,424

130,216

(626,418

)

(496,202

)

Fixed Income Securities Fund

250,724,638

17,841,885

(94,300

)

17,747,585

Intermediate Government Income Fund

108,789,069

6,608,734

(25,135

)

6,583,599

Mortgage Securities Fund

103,655,157

5,475,401

(579,522

)

4,895,879

Ohio Tax-Free Fund

49,435,234

1,324,055

(96,557

)

1,227,498

Short/Intermediate Fixed Income Securities Fund

164,283,566

5,459,506

(41,843

)

5,417,663

Balanced Allocation Fund

18,470,671

181,896

(389,239

)

(207,343

)

Conservative Allocation Fund

12,413,700

332,551

(77,267

)

255,284

Growth Allocation Fund

15,179,128

91,232

(373,117

)

(281,885

)

The differences between the book-basis unrealized appreciation/(depreciation) are attributable primarily to: tax deferral of losses on wash sales, the differences between book and tax amortization methods for premium and market discount, differences related to partnership investments, the realization for tax purposes of unrealized gains/losses on investments in passive foreign investment companies and the return of capital adjustments from real estate investment trusts.

The tax character of current year distributions paid and the tax basis of the current components of accumulated earnings (deficit) will be determined at the end of the current tax year ending December 31, 2010.

Semi-Annual Shareholder Report

123

Notes to Financial Statements (Continued)

As of December 31, 2009, for federal income tax purposes, the following Funds had capital loss carryforwards available to offset future gains, if any, to the extent provided by the Treasury regulations:


*Fund*	*Amount*		*Expires*
Tax-Free Money Market Fund	$	232	2011
Tax-Free Money Market Fund		1,529	2012
Tax-Free Money Market Fund		5,818	2013
Tax-Free Money Market Fund		4,861	2014
Tax-Free Money Market Fund		1,434	2015
Tax-Free Money Market Fund		60,543	2016
Tax-Free Money Market Fund		55,252	2017
Money Market Fund		440,755	2011
Money Market Fund		3,032	2012
Money Market Fund		7,224	2013
Money Market Fund		921	2014
Money Market Fund		106	2015
Ohio Municipal Money Market Fund		463	2012
Ohio Municipal Money Market Fund		25,291	2013
Ohio Municipal Money Market Fund		7,739	2014
Ohio Municipal Money Market Fund		12,350	2015
Ohio Municipal Money Market Fund		193,762	2017
Dividend Capture Fund		10,810,813	2016
Dividend Capture Fund		23,672,687	2017
Growth Fund		11,342,958	2016
Growth Fund		14,935,490	2017
Income Equity Fund		3,400,693	2016
Income Equity Fund		23,534,169	2017
International Equity Fund		19,366,897	2017
Macro 100 Fund		6,793,287	2016
Macro 100 Fund		828,373	2017


*Fund*	*Amount*		*Expires*
Mid Corp America Fund	$	414,346	2016
Mid Corp America Fund		39,312	2017
New Economy Fund		2,180,297	2016
New Economy Fund		21,860,170	2017
Real Strategies Fund		1,193,027	2016
Real Strategies Fund		15,849,394	2017
Rotating Markets Fund		2,167,913	2016
Rotating Markets Fund		5,422,440	2017
Situs Fund		14,263,710	2017
Technical Opportunities Fund		1,554,752	2016
Technical Opportunities Fund		1,310,624	2017
Fixed Income Securities Fund		1,035,978	2017
Mortgage Securities Fund		6,916	2016
Mortgage Securities Fund		771,527	2017
Ohio Tax-Free Fund		89,568	2017
Short/Intermediate Fixed Income Securities Fund		612,397	2013
Short/Intermediate Fixed Income Securities Fund		1,409,364	2014
Short/Intermediate Fixed Income Securities Fund		299,850	2015
Short/Intermediate Fixed Income Securities Fund		850,465	2016
Short/Intermediate Fixed Income Securities Fund		277,960	2017

During the year ended December 31, 2009, the Money Market Fund and Intermediate Government Income Fund utilized $41,682 and $81,075, respectively, in capital loss carryforwards.

The tax character of distributions paid during the fiscal year ended December 31, 2009, was as follows:

Distributions Paid From*

Fund

Ordinary
Income

Net
Long Term
Capital Gains

Total
Taxable
Distributions

Tax Exempt
Distributions

Tax Return
of Capital

Total
Distributions
Paid

Tax-Free Money Market Fund

—

106,763

—

106,763

Money Market Fund

119,933

—

119,933

—

119,933

Ohio Municipal Money Market Fund

—

260,936

—

260,936

U.S. Treasury Money Market Fund

75,445

—

75,445

—

75,445

Dividend Capture Fund

3,273,481

—

3,273,481

—

181,686

3,455,167

Growth Fund

33,067

—

33,067

—

33,067

Income Equity Fund

2,900,265

—

2,900,265

—

78,559

2,978,824

International Equity Fund

2,999,359

599,753

3,599,112

—

3,599,112

Macro 100 Fund

59,957

—

59,957

—

255

60,212

Mid Corp America Fund

326,636

—

326,636

—

42,088

368,724

Real Strategies Fund

702,404

—

702,404

—

35,377

737,781

Rotating Markets Fund

425,209

—

425,209

—

425,209

Situs Fund

234,007

252,704

486,711

—

159,010

645,721

Technical Opportunities Fund

58,282

—

58,282

—

58,282

Fixed Income Securities Fund

7,908,394

592,803

8,501,197

—

8,501,197

Intermediate Government Income Fund

3,739,795

347

3,740,142

—

3,740,142

Mortgage Securities Fund

3,437,734

—

3,437,734

—

66,854

3,504,588

Ohio Tax-Free Fund

—

1,165,927

—

1,165,935

Short/Intermediate Fixed Income Securities Fund

3,171,340

—

3,171,340

—

3,171,340

Balanced Allocation Fund

74,568

—

74,568

—

74,568

Conservative Allocation Fund

96,902

—

96,902

—

96,902

Growth Allocation Fund

60,680

—

60,680

—

60,680

*	The tax character of distributions paid may differ from the character of distributions shown on the statements of changes in net assets due to short-term capital gains being treated as ordinary income for tax purposes.

Semi-Annual Shareholder Report

124

For federal income tax purposes, Global Select Markets Fund had no tax character of distributions paid during the fiscal year ended December 31, 2009.

As of December 31, 2009, the components of accumulated earnings (deficit) were as follows:


*Fund*	Undistributed Tax Exempt Income		Undistributed Ordinary Income		Undistributed Long-Term Capital Gains		Accumulated Earnings		Distributions Payable			Accumulated Capital and Other Losses			Unrealized Appreciation (Depreciation)*			Total Accumulated Earnings (Deficit)
Tax-Free Money Market Fund	$	—	$	—	$	—	$	—	$	—		$	(129,669	)	$	—		$	(129,669	)
Money Market Fund		—		—		—		—		—			(452,038	)		—			(452,038	)
Ohio Municipal Money Market Fund		—		—		—		—		—			(239,605	)		—			(239,605	)
U.S. Treasury Money Market Fund		—		193		—		193		—			—			—			193
Dividend Capture Fund		—		—		—		—		—			(36,386,691	)		3,253,008			(33,133,683	)
Growth Fund		—		404		—		404		—			(26,278,448	)		31,295,683			5,017,639
Income Equity Fund		—		—		—		—		—			(28,131,219	)		8,906,797			(19,224,422	)
International Equity Fund		—		980		—		980		—			(20,166,690	)		42,332,186			22,166,476
Macro 100 Fund		—		—		—		—		—			(8,341,513	)		2,322,855			(6,018,658	)
Mid Corp America Fund		—		—		—		—		—			(552,268	)		42,120,226			41,567,958
New Economy Fund		—		—		—		—		—			(25,917,580	)		713,812			(25,203,768	)
Real Strategies Fund		—		—		—		—		—			(17,056,129	)		(11,968,044	)		(29,024,173	)
Rotating Markets Fund		—		2,697		—		2,697		—			(7,590,353	)		6,168,117			(1,419,539	)
Situs Fund		—		—		—		—		—			(16,409,119	)		26,013,417			9,604,298
Technical Opportunities Fund		—		2,739		—		2,739		—			(2,865,376	)		1,261,020			(1,601,617	)
Fixed Income Securities Fund		—		—		—		—		(178	)		(1,211,649	)		9,850,236			8,638,409
Intermediate Government Income Fund		—		—		268,465		268,465		—			—			3,878,168			4,146,633
Mortgage Securities Fund		—		—		—		—		—			(778,443	)		3,112,073			2,333,630
Ohio Tax-Free Fund		1		—		—		1		—			(93,259	)		933,207			839,949
Short/Intermediate Fixed Income Securities Fund		—		—		—		—		—			(3,450,036	)		3,940,986			490,950
Balanced Allocation Fund		—		88,762		—		88,762		—			—			590,006			678,768
Conservative Allocation Fund		—		32,031		—		32,031		—			—			272,433			304,464
Growth Allocation Fund		—		116,583		—		116,583		—			—			738,710			855,293

The differences between the book-basis unrealized appreciation (depreciation) are attributable primarily to: tax deferral of losses on wash sales, the differences between book and tax amortization methods for premium and market discount, and the return of capital adjustments from real estate investment trusts.

For federal income tax purposes, Global Select Markets Fund had no components of accumulated earnings (deficit) to report during the fiscal year ended December 31, 2009.

Net capital losses incurred after October 31 and within the taxable year are deemed to arise of the first business day of the Funds’ next taxable year. For the year ended December 31, 2009, the Funds deferred post-October capital losses and post-October currency losses as follows:


*Fund*	Post October Losses		Post October Currency Losses
Dividend Capture Fund	$	1,903,191	$	—
Income Equity Fund		1,196,357		—
International Equity Fund		498,911		300,882
Macro 100 Fund		719,853		—
Mid Corp America Fund		98,610		—
New Economy Fund		1,877,113		—
Real Strategies Fund		13,708		—
Situs Fund		2,145,409		—
Fixed Income Securities Fund		175,671		—
Ohio Tax-Free Fund		3,691		—

Management of the Funds has reviewed tax positions taken in tax years that remain subject to examination by all major tax jurisdictions, including federal (i.e., the last four tax year ends and the interim tax period since then). Management believes there is no tax liability resulting from unrecognized tax benefits related to uncertain tax positions taken.

L.	*Subsequent Events*

Management of the Funds has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date these financial statements were issued. Based upon this evaluation, as noted below in “Administrative and Financial Administration Fees,” a change in sub-contracted service providers is expected to occur on or about September 1, 2010.

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125

Notes to Financial Statements (Continued)

(3)

Investment Advisory Fee and Other Transactions with Affiliates

Investment Advisory Fee—Huntington Asset Advisors, Inc. (the “Advisor”), a subsidiary of The Huntington National Bank (“Huntington”), serves as the Funds’ Investment Advisor. The Advisor receives a fee for its services, computed daily and paid monthly, based on a percentage of each Fund’s average daily net assets on a tiered basis, according to the table below:


	*Tiered Annual Rate:*
*Fund*	*Up to $500 million*		*On the next $500 million*		*In Excess of $1 billion*
Tax-Free Money Market Fund	0.30	%	0.25	%	0.20	%
Money Market	0.30	%	0.25	%	0.20	%
Ohio Municipal Money Market Fund	0.30	%	0.25	%	0.20	%
Dividend Capture Fund	0.75	%	0.70	%	0.65	%
Growth Fund	0.60	%	0.55	%	0.50	%
Income Equity Fund	0.60	%	0.55	%	0.50	%
International Equity Fund	1.00	%	0.95	%	0.90	%
Macro 100 Fund	0.75	%	0.70	%	0.65	%
Mid Corp America Fund	0.75	%	0.70	%	0.65	%
New Economy Fund	0.85	%	0.80	%	0.75	%
Real Strategies Fund	0.75	%	0.70	%	0.65	%
Rotating Markets Fund	0.50	%	0.45	%	0.40	%
Situs Fund	0.75	%	0.70	%	0.65	%
Technical Opportunities Fund	0.75	%	0.70	%	0.65	%
Fixed Income Securities Fund	0.50	%	0.45	%	0.40	%
Intermediate Government Income Fund	0.50	%	0.45	%	0.40	%
Mortgage Securities Fund	0.50	%	0.45	%	0.40	%
Ohio Tax-Free Fund	0.50	%	0.45	%	0.40	%
Short/Intermediate Fixed Income Securities Fund	0.50	%	0.45	%	0.40	%

U.S. Treasury Money Market Fund pays the Advisor a fee of 0.20% of its average daily net assets, computed daily and paid monthly. Global Select Markets Fund pays the Advisor a fee of 1.00% of the Fund’s average daily net assets, computed daily and paid monthly, up to $500 million, 0.95% of the Fund’s average daily net assets between $500 million and $1 billion and 0.90% of the Fund’s average daily net assets over $1 billion. The Advisor has agreed to contractually waive all or a portion of its investment advisory fee for Global Select Markets Fund (based on average daily net assets to which it is otherwise entitled to receive and/or to reimburse certain operating expenses to limit the total direct net annual operating expenses and acquired (underlying) fund operating expenses to not more than 1.90% and 2.15% of Trust Shares and Class A Shares, respectively, effective May 1, 2010 through April 30, 2011. Additionally, each of Balanced Allocation Fund, Conservative Allocation Fund and Growth Allocation Fund pays the Advisor a fee of 0.10% of its average daily net assets, computed daily and paid monthly. The Advisor has agreed to contractually waive all or a portion of its investment advisory fee for Balanced Allocation Fund, Conservative Allocation Fund and Growth Allocation Fund (based on average daily net assets) to which it is otherwise entitled to receive and/or to reimburse certain operating expenses of Balanced Allocation Fund, Conservative Allocation Fund and Growth Allocation Fund in order to limit the total direct net annual operating expenses and acquired (underlying) fund operating expenses to not more than 1.90% of the average daily net assets of each of Balanced Allocation Fund, Conservative Allocation Fund and Growth Allocation Fund through April 30, 2011.

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.

Consulting Fee—Laffer Investments, Inc. acts as a Consultant (“the Consultant”) to the Advisor for the Macro 100 Fund. The Advisor pays the Consultant a fee for its services. Neither the Trust nor the Macro 100 Fund is liable for payment of this fee.

Administrative and Financial Administration Fees—Huntington is the Administrator to the Trust, and Unified Fund Services, Inc. (“Unified”) (effective August 1, 2010, Unified changed its name to Huntington Asset Services, Inc.), an affiliate of Huntington, is the Sub-Administrator. As Administrator, Huntington provides the Funds with certain administrative services. As Sub-Administrator, Unified provides the Funds with certain administrative personnel, and generally assists with the provision of administrative services necessary to operate the Funds. The Administrator pays the Sub-Administrator a fee for the services it provides to the Trust. Huntington also provides portfolio accounting services to the Funds. Huntington has sub-contracted certain fund accounting services to Citi Fund Services Ohio, Inc. (“Citi” or “Sub-Financial Administrator”). Citi is paid directly by Huntington, not the Funds, for these services. The fees paid for administrative, sub-administrative, financial administrative and sub-financial administrative services are based on the level of average net assets of each Fund for the period, subject to minimum fees in certain circumstances. On, or about, September 1, 2010, Huntington expects to begin sub-contracting certain fund accounting services to Unified.

Semi-Annual Shareholder Report

126

Huntington provides administrative and financial administration and accounting services at the following annual rate on a tiered basis:


Maximum Administrative Fee		Average Daily Net Assets of the Trust
0.1822%		On the first $4 billion
0.1650%		On the next $2 billion
0.1575%		On the next $2 billion
0.1450%		On assets in excess of $8 billion

There is no minimum annual fee per fund or class of shares.

Distribution and Shareholder Services Fees—The Funds have adopted a Distribution Plan (the “Plan”) pursuant to Rule 12b-1 under the 1940 Act. Under the terms of the Plan, the Funds will compensate qualified intermediaries for distribution services in connection with Class A Shares not to exceed 0.25% of the daily net assets of each Fund’s Class A Shares. Trust Shares are not subject to Rule 12b-1 fees. Class A Shares and Trust Shares are also subject to a shareholder services fee not to exceed 0.25% of the daily net assets of such shares. For the period ended June 30, 2010, Huntington and its affiliates received $2,283,546 in shareholder service fees. For the period ended June 30, 2010, Unified Financial Securities, Inc., the Funds’ distributor, received underwriter

commissions of $77,793 earned on sales of Class A Shares. For the period ended June 30, 2010, the Funds re-allowed $149,996 to affiliated broker-dealers of the Funds.

Transfer and Dividend Disbursing Agent Fees and Expense—Unified is the transfer and dividend disbursing agent for the Funds. For its services, Unified receives a yearly fixed amount per shareholder account, subject to a yearly minimum fee of $12,000 for each of the Funds. Unified is also entitled to receive additional amounts that may be activity or time-based charges, plus reimbursement for out-of-pocket expenses.

Custodian Fees��Huntington serves as custodian for each of the Funds. BBH serves as sub-custodian for Global Select Markets Fund’s, International Equity Fund’s, Real Strategies Fund’s, Situs Fund’s and Technical Opportunities Fund’s foreign assets. Huntington and BBH receive fees based on the level of each Fund’s average daily net assets for the period, plus out-of-pocket expenses.

Compliance Services—The Trust has contracted with Huntington to provide a Chief Compliance Officer to the Trust, for which it pays Huntington $125,000 annually.

General—Certain 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 a certain affiliated money market fund which is managed by the Advisor. Income distributions earned from investments in this fund are recorded as income from affiliates in the accompanying financial statements. A summary of each Fund’s investment in such affiliated money market fund (Huntington Money Market Fund) is set forth below:

Fund

12/31/09
Market Value

Purchases

Sales

6/30/10
Market Value

Income

Dividend Capture Fund

1,008,304

13,792,649

(11,907,468

)

2,893,485

Global Select Markets Fund

151

10,093,062

(7,269,719

)

2,823,494

115

Growth Fund

515,548

81,133,116

(81,411,042

)

237,622

297

Income Equity Fund

843,426

15,772,534

(14,613,373

)

2,002,587

111

International Equity

8,877,051

91,957,245

(85,369,810

)

15,464,486

876

Macro 100 Fund

2,087,400

10,081,502

(8,096,249

)

4,072,653

154

Mid Corp America Fund

6,946,743

18,489,256

(19,075,686

)

6,360,313

319

New Economy Fund

4,594,933

28,092,982

(29,508,536

)

3,179,379

221

Real Strategies Fund

8,766,417

13,617,041

(15,833,616

)

6,549,842

376

Rotating Markets Fund

2,012,698

11,887,257

(11,214,344

)

2,685,611

140

Situs Fund

1,505,460

50,934,001

(42,174,294

)

10,265,167

209

Technical Opportunities Fund

214,085

3,308,555

(3,273,641

)

248,999

Fixed Income Securities Fund

5,082,016

49,308,993

(46,854,020

)

7,536,989

346

Intermediate Government Income Fund

2,143,403

22,601,623

(21,615,687

)

3,129,339

183

Mortgage Securities Fund

2,781,569

17,447,715

(17,149,002

)

3,080,282

161

Short/Intermediate Fixed Income Securities Fund

5,261,922

37,036,796

(39,209,641

)

3,089,077

247

Additionally, Balanced Allocation Fund, Conservative Allocation Fund and Growth Allocation Fund invest in other Funds within the Trust. A summary of these investments in affiliated funds is set forth below:

Balanced Allocation Fund

12/31/09
Market Value

Purchases

Sales

6/30/10
Market Value

Income

Money Market Fund

168,439

3,665,042

(3,574,687

)

258,794

Dividend Capture Fund

656,235

460,386

(139,932

)

938,590

13,938

Growth Fund

1,360,546

739,038

(314,043

)

1,628,313

—

Income Equity Fund

1,392,759

726,838

(265,677

)

1,716,548

23,410

International Equity

2,727,944

1,148,137

(1,032,206

)

2,467,255

Macro 100 Fund

485,037

1,435,779

(27,114

)

1,744,749

Mid Corp America Fund

636,592

423,134

(133,690

)

895,886

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127

Notes to Financial Statements (Continued)

Balanced Allocation Fund

12/31/09
Market Value

Purchases

Sales

6/30/10
Market Value

Income

New Economy Fund

366,926

384,122

(32,132

)

670,268

—

Situs Fund

1,081,195

699,494

(124,985

)

1,587,662

Fixed Income Securities Fund

2,212,275

1,108,993

(240,342

)

3,183,327

42,964

Intermediate Government Income Fund

1,031,894

516,442

(99,635

)

1,481,502

18,604

Mortgage Securities Fund

594,823

288,693

(53,236

)

844,116

7,562

Short/Intermediate Fixed Income Securities Fund

593,721

290,282

(47,119

)

846,318

7,806

Conservative Allocation Fund

12/31/09
Market Value

Purchases

Sales

6/30/10
Market Value

Income

Money Market Fund

123,821

1,488,061

(1,611,882

)

—

Dividend Capture Fund

216,561

84,629

(42,411

)

249,245

3,901

Growth Fund

447,260

118,651

(89,914

)

434,037

—

Income Equity Fund

457,610

112,295

(77,273

)

457,087

6,594

International Equity

896,554

122,735

(256,904

)

656,873

—

Macro 100 Fund

159,612

354,919

(11,748

)

464,124

—

Mid Corp America Fund

209,368

75,799

(41,112

)

238,171

—

New Economy Fund

121,007

82,332

(12,611

)

178,681

—

Situs Fund

355,064

125,901

(43,140

)

423,070

—

Fixed Income Securities Fund

4,113,792

661,626

(144,816

)

4,792,270

70,157

Intermediate Government Income Fund

1,919,886

312,831

(53,629

)

2,231,757

30,454

Mortgage Securities Fund

1,104,907

172,588

(31,356

)

1,269,483

12,042

Short/Intermediate Fixed Income Securities Fund

1,104,188

171,002

(16,489

)

1,274,186

12,778

Growth Allocation Fund*

12/31/09
Market Value

Purchases

Sales

6/30/10
Market Value

Income

Money Market Fund

222,574

2,401,217

(2,429,130

)

194,661

Dividend Capture Fund

831,893

379,810

(158,438

)

1,009,976

15,884

Growth Fund

1,717,941

586,386

(373,404

)

1,752,750

—

Income Equity Fund

1,757,710

541,279

(295,451

)

1,849,780

27,001

International Equity

3,440,856

903,687

(1,244,261

)

2,657,730

Macro 100 Fund

612,087

1,469,921

(36,511

)

1,879,697

Mid Corp America Fund

802,306

341,145

(148,701

)

965,268

New Economy Fund

464,258

352,921

(42,276

)

721,886

—

Situs Fund

1,364,686

561,676

(147,540

)

1,709,321

Fixed Income Securities Fund

878,910

276,598

(112,941

)

1,080,036

15,860

Intermediate Government Income Fund

410,555

130,976

(50,293

)

503,356

6,884

Mortgage Securities Fund

236,406

70,308

(25,555

)

286,463

2,744

Short/Intermediate Fixed Income Securities Fund

235,224

72,854

(25,281

)

286,319

2,877

The Tax-Free Money Market Fund, Money Market Fund, Ohio Municipal Money Market Fund and U.S. Treasury Money Market Fund (collectively the “Money Market Funds”) were subject to a fee waiver and expense reimbursement agreement with the Advisor during the period whereby the Advisor has agreed to waive fees or reimburse expenses in amounts necessary to maintain a minimum yield of 0.01% and in which the Money Market Funds have agreed to repay amounts that were waived or reimbursed by the Advisor for a period up to three years after such waiver or reimbursement was made to the extent that such repayments would not cause the yield of a class to decrease below 0.01%. As of June 30, 2010, the following amounts have been waived or reimbursed by the Advisor and are subject to repayment by the respective Fund:


*Fund*	Amount Waived or Reimbursed		Expiring Beginning December 31,
Tax-Free Money Market Fund	$	158,548	2012
		201,545	2013
Money Market Fund		1,526,152	2012
		1,459,422	2013


*Fund*	Amount Waived or Reimbursed		Expiring Beginning December 31,
Ohio Municipal Money Market Fund	$	506,451	2012
		666,554	2013
U.S. Treasury Money Market Fund		1,437,890	2012
		1,187,538	2013

(4)

Rotating Markets Fund, Real Strategies Fund, Technical Opportunities Fund, Balanced Allocation Fund, Conservative Allocation Fund and Growth Allocation Fund Structure

Rotating Markets Fund, Real Strategies Fund, Technical Opportunities Fund, Balanced Allocation Fund, Conservative Allocation Fund and Growth Allocation Fund (“Investing Funds”), in accordance with their prospectus, seek to achieve their investment objectives by investing in other investment companies (“Underlying Funds”) with similar investment objectives. As a result, investors in the Investing Funds incur expenses of both the Investing Funds and Underlying Funds, including transaction costs related to the purchases and sales of Underlying Fund shares.

Semi-Annual Shareholder Report

128

(5)

Investment Transactions

Purchases and sales of investments, excluding short-term securities, for the period ended June 30, 2010, were as follows:


*Fund*	*Purchases*		*Sales*
Dividend Capture Fund	$	43,845,898	$	43,229,736
Global Select Markets Fund		22,783,207		480,881
Growth Fund		145,315,720		161,066,087
Income Equity Fund		27,107,383		34,294,245
International Equity Fund		71,759,490		102,996,365
Macro 100 Fund		10,422,027		3,627,248
Mid Corp America Fund		13,519,905		17,697,187
New Economy Fund		54,098,371		50,533,072
Real Strategies Fund		17,576,153		6,569,981
Rotating Markets Fund		54,900,041		60,603,744
Situs Fund		36,195,056		37,658,634
Technical Opportunities Fund		23,240,910		22,695,214
Fixed Income Securities Fund		68,795,779		43,813,870
Intermediate Government Income Fund		17,717,027		19,494,394
Mortgage Securities Fund		15,040,625		11,413,609
Ohio Tax-Free Fund		7,643,081		3,213,278
Short/Intermediate Fixed Income Securities Fund		53,053,134		29,970,455
Balanced Allocation Fund		8,221,338		2,510,111
Conservative Allocation Fund		2,395,308		821,404
Growth Allocation Fund		5,687,561		2,660,651

Purchases and sales of long-term U.S. government securities, for the period ended June 30, 2010, were as follows:


*Fund*	*Purchases*		*Sales*
Fixed Income Securities Fund	$	30,958,763	$	29,133,533
Intermediate Government Income Fund		17,717,027		19,494,394
Mortgage Securities Fund		11,580,287		11,081,718
Short/Intermediate Fixed Income Securities Fund		20,020,668		11,066,823

(6)

Concentration of Credit Risk

Since each of Ohio Municipal Money Market Fund and Ohio Tax-Free Fund invest a substantial portion of their assets in issuers located in the state of Ohio, they will be more susceptible to factors adversely affecting issuers of Ohio 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, 2010, the securities in the portfolio of investments are backed by letters of credit or bond insurance from various financial institutions and financial guaranty assurance agencies, as indicated on each Fund’s Portfolio of Investments.

(7)

Foreign Investment Risk

Compared with investing in the United States, investing in foreign markets involves a greater degree and variety of risk. Investors in international or foreign markets may face delayed settlements, currency controls and adverse economic developments as well as higher overall transaction costs. In addition, fluctuations in the U.S. dollar’s value versus other currencies may erode or reverse gains from investments denominated in foreign currencies or widen losses. Foreign governments may expropriate assets, impose capital or currency controls, impose punitive taxes, impose limits on ownership or nationalize a company or industry. Any of these actions could have a severe effect on security prices and impair the Fund’s ability to bring its capital or income back to the U.S. Exchange rate fluctuations also may impair an issuer’s ability to repay U.S. dollar denominated debt, thereby increasing credit risk of such debt. Finally, the value of foreign securities may be affected by incomplete, less frequent or inaccurate financial information about their issuers, social upheavals or political actions ranging from tax code changes to government collapse. Foreign companies may also receive less coverage than U.S. companies by market analysts, and financial reporting standards or regulatory requirements may not be comparable to those applicable to U.S. companies.

Semi-Annual Shareholder Report

129

Supplemental Information (Unaudited)

Shareholder Expense Example

Fund Expenses—As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments, contingent deferred sales charges on redemptions; and (2) ongoing costs, including management fees, distribution and service fees; and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds.

The examples are based on an investment of $1,000.00 invested at the beginning of the period and held for the entire six-month period from January 1, 2010 to June 30, 2010.

Actual Expenses—The “Actual” lines of the table provide information about actual account values and actual expenses. You may use the information on this line for the class of shares you hold, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600.00 account value divided by $1,000.00 = 8.60), then multiply the result by the number in the “Actual” line under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes—The “hypothetical” lines of the table provide information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratios for each class of shares and an assumed rate of return of 5% per year before expenses, which are not the Funds’ actual returns. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Funds and other funds. To do so, compare the 5% hypothetical examples with the 5% hypothetical examples that appear in the shareholder reports of other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs. Therefore, the “Hypothetical” lines of the table are useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Beginning
Account
Value,
January 1, 2010

Ending
Account Value,
June 30, 2010

Expenses
Paid
During
Period(1)

Annualized
Expense
Ratio

Tax-Free Money Market Fund

Trust Shares

Actual

1,000.00

2.58

0.52

Hypothetical (2)

1,000.00

1,022.22

2.61

0.52

Class A Shares

Actual

1,000.00

2.58

0.52

Hypothetical (2)

1,000.00

1,022.22

2.61

0.52

Money Market Fund

Trust Shares

Actual

1,000.00

1,000.10

1.39

0.28

Hypothetical (2)

1,000.00

1,023.41

1.40

0.28

Class A Shares

Actual

1,000.00

1,000.10

1.39

0.28

Hypothetical (2)

1,000.00

1,023.41

1.40

0.28

Interfund

Actual

1,000.00

1,000.10

1.39

0.28

Hypothetical (2)

1,000.00

1,023.41

1.40

0.28

Ohio Municipal Money Market Fund

Trust Shares

Actual

1,000.00

2.23

0.45

Hypothetical (2)

1,000.00

1,022.56

2.26

0.45

Class A Shares

Actual

1,000.00

2.23

0.45

Hypothetical (2)

1,000.00

1,022.56

2.26

0.45

U.S. Treasury Money Market Fund

Trust Shares

Actual

1,000.00

1,000.10

0.69

0.14

Hypothetical (2)

1,000.00

1,024.10

0.70

0.14

Class A Shares

Actual

1,000.00

1,000.10

0.69

0.14

Hypothetical (2)

1,000.00

1,024.10

0.70

0.14

Dividend Capture Fund

Trust Shares

Actual

1,000.00

980.50

7.02

1.43

Hypothetical (2)

1,000.00

1,017.70

7.15

1.43

Class A Shares

Actual

1,000.00

979.40

8.25

1.68

Hypothetical (2)

1,000.00

1,016.46

8.40

1.68

Semi-Annual Shareholder Report

130

Beginning
Account
Value,
January 1, 2010

Ending
Account Value,
June 30, 2010

Expenses
Paid
During
Period(1)

Annualized
Expense
Ratio

Global Select Markets Fund

Trust Shares

Actual

1,000.00

943.00

9.15

1.90

Hypothetical (2)

1,000.00

1,015.37

9.49

1.90

Class A Shares

Actual

1,000.00

942.00

10.35

2.15

Hypothetical (2)

1,000.00

1,014.13

10.74

2.15

Growth Fund

Trust Shares

Actual

1,000.00

903.30

5.80

1.23

Hypothetical (2)

1,000.00

1,018.70

6.16

1.23

Class A Shares

Actual

1,000.00

901.70

7.03

1.49

Hypothetical (2)

1,000.00

1,017.41

7.45

1.49

Income Equity Fund

Trust Shares

Actual

1,000.00

933.30

5.90

1.23

Hypothetical (2)

1,000.00

1,018.70

6.16

1.23

Class A Shares

Actual

1,000.00

932.20

7.09

1.48

Hypothetical (2)

1,000.00

1,017.46

7.40

1.48

International Equity Fund

Trust Shares

Actual

1,000.00

876.70

7.40

1.59

Hypothetical (2)

1,000.00

1,016.91

7.95

1.59

Class A Shares

Actual

1,000.00

875.90

8.60

1.85

Hypothetical (2)

1,000.00

1,015.62

9.25

1.85

Macro 100 Fund

Trust Shares

Actual

1,000.00

958.30

7.33

1.51

Hypothetical (2)

1,000.00

1,017.31

7.55

1.51

Class A Shares

Actual

1,000.00

957.80

8.54

1.76

Hypothetical (2)

1,000.00

1,016.07

8.80

1.76

Mid Corp America Fund

Trust Shares

Actual

1,000.00

978.70

6.72

1.37

Hypothetical (2)

1,000.00

1,018.00

6.85

1.37

Class A Shares

Actual

1,000.00

977.40

7.94

1.62

Hypothetical (2)

1,000.00

1,016.76

8.10

1.62

New Economy Fund

Trust Shares

Actual

1,000.00

949.70

7.64

1.58

Hypothetical (2)

1,000.00

1,016.96

7.90

1.58

Class A Shares

Actual

1,000.00

948.40

8.84

1.83

Hypothetical (2)

1,000.00

1,015.72

9.15

1.83

Real Strategies Fund

Trust Shares

Actual

1,000.00

908.10

6.53

1.38

Hypothetical (2)

1,000.00

1,017.95

6.90

1.38

Class A Shares

Actual

1,000.00

908.20

7.71

1.63

Hypothetical (2)

1,000.00

1,016.71

8.15

1.63

Rotating Markets Fund

Trust Shares

Actual

1,000.00

895.40

5.73

1.22

Hypothetical (2)

1,000.00

1,018.74

6.11

1.22

Class A Shares

Actual

1,000.00

893.90

6.90

1.47

Hypothetical (2)

1,000.00

1,017.50

7.35

1.47

Situs Fund

Trust Shares

Actual

1,000.00

972.40

6.65

1.36

Hypothetical (2)

1,000.00

1,018.05

6.80

1.36

Class A Shares

Actual

1,000.00

971.20

7.87

1.61

Hypothetical (2)

1,000.00

1,016.81

8.05

1.61

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Supplemental Information (Unaudited) (Continued)

Beginning
Account
Value,
January 1, 2010

Ending
Account Value,
June 30, 2010

Expenses
Paid
During
Period(1)

Annualized
Expense
Ratio

Technical Opportunites Fund

Trust Shares

Actual

1,000.00

897.00

9.03

1.92

Hypothetical (2)

1,000.00

1,015.27

9.59

1.92

Class A Shares

Actual

1,000.00

896.70

10.30

2.19

Hypothetical (2)

1,000.00

1,013.93

10.94

2.19

Fixed Income Securities Fund

Trust Shares

Actual

1,000.00

1,052.40

5.50

1.08

Hypothetical (2)

1,000.00

1,019.44

5.41

1.08

Class A Shares

Actual

1,000.00

1,051.10

6.71

1.32

Hypothetical (2)

1,000.00

1,018.25

6.61

1.32

Intermediate Government Income Fund

Trust Shares

Actual

1,000.00

1,040.30

5.72

1.13

Hypothetical (2)

1,000.00

1,019.19

5.66

1.13

Class A Shares

Actual

1,000.00

1,039.00

6.93

1.37

Hypothetical (2)

1,000.00

1,018.00

6.85

1.37

Mortgage Securities Fund

Trust Shares

Actual

1,000.00

1,032.70

5.64

1.12

Hypothetical (2)

1,000.00

1,019.24

5.61

1.12

Class A Shares

Actual

1,000.00

1,031.20

6.90

1.37

Hypothetical (2)

1,000.00

1,018.00

6.85

1.37

Ohio Tax-Free Fund

Trust Shares

Actual

1,000.00

1,019.70

6.21

1.24

Hypothetical (2)

1,000.00

1,018.65

6.21

1.24

Class A Shares

Actual

1,000.00

1,018.90

7.46

1.49

Hypothetical (2)

1,000.00

1,017.41

7.45

1.49

Short/Intermediate Fixed Income Securities Fund

Trust Shares

Actual

1,000.00

1,024.10

5.42

1.08

Hypothetical (2)

1,000.00

1,019.44

5.41

1.08

Class A Shares

Actual

1,000.00

1,023.30

6.67

1.33

Hypothetical (2)

1,000.00

1,018.20

6.66

1.33

Balanced Allocation Fund

Class A Shares

Actual*

1,000.00

961.60

3.06

0.63

Hypothetical (2)

1,000.00

1,021.67

3.16

0.63

Conservative Allocation Fund

Class A Shares

Actual*

1,000.00

1,008.50

3.78

0.76

Hypothetical (2)

1,000.00

1,021.03

3.81

0.76

Growth Allocation Fund

Class A Shares

Actual*

1,000.00

938.40

2.69

0.56

Hypothetical (2)

1,000.00

1,022.02

2.81

0.56

(1)

Expenses are equal to the Fund’s annualized expense ratios, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). The annualized expense ratios reflect reimbursement of expenses by the Funds’ Advisor for the period beginning January 1, 2010 through June 30, 2010. The “Financial Highlights” tables in the Funds’ financial statements, included in the report, also show the gross expense ratios, without such reimbursements.

(2)

Hypothetical assumes 5% annual return before expenses.

Semi-Annual Shareholder Report

132

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 www.huntingtonfunds.com. This information is also available from the EDGAR database on the SEC’s website at www.sec.gov.

QUARTERLY PORTFOLIO SCHEDULE

The Funds file with the SEC a complete schedule of their portfolio holdings, as of the close of the first and third quarters of their fiscal year, on “Form N-Q.” These filings are available on the SEC’s website at www.sec.gov and may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. (call 1-202-551-8090 for information on the operation of the Public Reference Room.) You may also access this information at www.huntingtonfunds.com by selecting “Form N-Q”.

The Huntington National Bank, a subsidiary of Huntington Bancshares, Inc., is the Administrator, Financial Administrator and Custodian of The Huntington Funds. Unified Fund Services, Inc. serves as the Sub-Administrator and is affiliated with the Huntington National Bank. Citi Fund Services Ohio, Inc. serves as Sub-Fund Accountant. Additionally, Brown Brothers Harriman & Co. is the Sub-Custodian of certain of the Funds. Huntington Asset Advisors, Inc., a subsidiary of the Huntington National Bank, serves as Investment Advisor to the Funds. Unified Financial Securities, Inc. serves as the Distributor of The Huntington Funds and is 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.


Cusip 446327504		Cusip 446327538
Cusip 446327603		Cusip 446327462
Cusip 446327108		Cusip 446327488
Cusip 446327207		Cusip 446327777
Cusip 446327496		Cusip 446327769
Cusip 446327306		Cusip 446327173
Cusip 446327405		Cusip 446327199
Cusip 446327702		Cusip 446327736
Cusip 446327801		Cusip 446327728
Cusip 446327660		Cusip 446327793
Cusip 446327645		Cusip 446327785
Cusip 446327884		Cusip 446327447
Cusip 446327876		Cusip 446327843
Cusip 446327868		Cusip 446327835
Cusip 446327850		Cusip 446327827
Cusip 446327637		Cusip 446327819
Cusip 446327611		Cusip 446327744
Cusip 446327330		Cusip 446327413
Cusip 446327314		Cusip 446327298
Cusip 446327561		Cusip 446327272
Cusip 446327546		Cusip 446327157
Cusip 446327595		Cusip 446327140
Cusip 446327579		Cusip 446327132
Cusip 446327520

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

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27057 (08/10)

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Semi-Annual Shareholder Report

Balanced Fund

Huntington VA Balanced Fund

Equity Funds

Huntington VA Dividend Capture Fund

Huntington VA Growth Fund

Huntington VA Income Equity Fund

Huntington VA International Equity Fund

Huntington VA Macro 100 Fund

Huntington VA Mid Corp America Fund

Huntington VA New Economy Fund

Huntington VA Real Strategies Fund

Huntington VA Rotating Markets Fund

Huntington VA Situs Fund

Income Funds

Huntington VA Mortgage Securities Fund

JUNE 30, 2010

Huntington VA Balanced Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2010


Asset Allocation	Percentage of Market Value
Equity Mutual Funds¹	59.5	%
Fixed Income Mutual Funds¹	38.1	%
Cash¹	2.4	%
Total	100.0	%

¹	Investments in affiliated funds.

Portfolio holdings and allocations are subject to change. Percentages in the table above, as of June 30, 2010, are based on total investments, which may differ from the percentages set forth below in the Portfolio of Investments which are computed using the Fund’s total net assets.

Portfolio of Investments (Unaudited)

June 30, 2010


Shares		Value
	Mutual Funds — 97.5% (a)
238,498	Huntington Fixed Income Securities Fund, Trust Shares	$	5,342,352
77,057	Huntington VA Dividend Capture Fund		673,476
468,166	Huntington VA Growth Fund		3,019,672
269,113	Huntington VA Income Equity Fund		2,012,962
141,648	Huntington VA International Equity Fund		1,674,277
110,667	Huntington VA Macro 100 Fund		838,858
47,393	Huntington VA Mid Corp America Fund		672,034
95,071	Huntington VA Mortgage Securities Fund		1,099,972
72,731	Huntington VA New Economy Fund		757,857
36,579	Huntington VA Situs Fund		419,928

	Total Mutual Funds (Cost $16,737,832)		16,511,388


Shares		Value
	Cash Equivalents — 2.4% (a) (b)
405,715	Huntington Money Market Fund, Interfund Shares, 0.010%	$	405,715

	Total Cash Equivalents (Cost $405,715)		405,715

	Total Investments (Cost $17,143,547) — 99.9%		16,917,103

	Other Assets in Excess of Liabilities — 0.1%		13,282

	Net Assets — 100.0%	$	16,930,385

(a)	Investment in affiliate.

(b)	Rate disclosed is the seven day yield as of June 30, 2010.

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		1

Huntington VA Dividend Capture Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2010


Asset Allocation	Percentage of Market Value
Common Stocks	71.9	%
Preferred Stocks	26.0	%
Exchange Traded Funds	1.4	%
Cash¹	0.7	%
Total	100.0	%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2010


Shares		Value
	Common Stocks — 71.7%
	Consumer Discretionary — 5.9%
11,000	Comcast Corp., Class A	$	191,070
8,500	Fortune Brands, Inc.		333,030
6,500	J.C. Penney Co., Inc.		139,620
12,000	Lowe’s Cos., Inc.		245,040
1,000	The Walt Disney Co.		31,500
15,500	Time Warner, Inc.		448,105
5,500	V.F. Corp.		391,490

			1,779,855

	Consumer Staples — 8.0%
14,000	General Mills, Inc.		497,280
7,500	Kellogg Co.		377,250
8,500	Reynolds American, Inc.		443,020
8,000	Ruddick Corp.		247,920
2,000	Sanderson Farms, Inc.		101,480
6,500	The Estee Lauder Cos., Inc., Class A		362,245
9,500	Universal Corp.		376,960

			2,406,155

	Energy — 7.1%
7,500	Chevron Texaco Corp.		508,950
4,000	ConocoPhillips		196,360
9,000	Eni SpA ADR		328,950
7,000	Exxon Mobil Corp.		399,490
7,500	Halliburton Co.		184,125
11,000	Marathon Oil Corp.		341,990
9,500	The Williams Cos., Inc.		173,660

			2,133,525

	Financials — 12.9%
17,000	American Financial Group, Inc.		464,440
12,500	BB&T Corp.		328,875
5,750	Chubb Corp.		287,557
5,000	Everest Re Group Ltd.		353,600
22,500	Federated Investors, Inc., Class B		465,975
6,500	JPMorgan Chase & Co.		237,965
5,500	Prudential Financial, Inc.		295,130
10,000	Royal Bank of Canada		477,900
5,000	The Travelers Cos., Inc.		246,250


Shares		Value
	Financials — (continued)
17,500	Unitrin, Inc.	$	448,000
12,000	Unum Group		260,400

			3,866,092

	Health Care — 7.2%
10,000	Abbott Laboratories		467,800
13,000	AstraZeneca PLC ADR		612,690
11,500	Baxter International, Inc.		467,360
13,000	Eli Lilly & Co.		435,500
13,000	Pfizer, Inc.		185,380

			2,168,730

	Industrials — 8.6%
5,250	3M Co.		414,698
11,000	A.O. Smith Corp.		530,090
5,000	Deere & Co.		278,400
3,500	Flowserve Corp.		296,800
28,000	General Electric Co.		403,760
1,500	International Paper Co.		33,945
7,500	Raytheon Co.		362,925
4,000	Union Pacific Corp.		278,040

			2,598,658

	Materials — 1.4%
13,000	MeadWestvaco Corp.		288,600
5,000	Southern Copper Corp.		132,700

			421,300

	Real Estate Investment Trusts — 11.7%
9,000	Acadia Realty Trust		151,380
4,000	EastGroup Properties, Inc.		142,320
2,500	Entertainment Properties Trust		95,175
5,500	Equity Residential		229,020
7,000	HCP, Inc.		225,750
9,000	Health Care REIT, Inc.		379,080
12,500	Highwoods Properties, Inc.		347,000
3,500	Liberty Property Trust		100,975
8,000	Mack-Cali Realty Corp.		237,840

See Notes which are an integral part of the Financial Statements.


		2

Huntington VA Dividend Capture Fund

Portfolio of Investments (continued)

June 30, 2010


Shares		Value
	Common Stocks — (continued)
	Real Estate Investment Trusts — (continued)
5,500	Mid-America Apartment Communities, Inc.	$	283,085
9,500	National Health Investors, Inc.		366,320
10,000	National Retail Properties, Inc.		214,400
3,750	PS Business Parks, Inc.		209,175
17,000	Ramco-Gershenson Properties Trust		171,700
3,374	Simon Property Group, Inc.		272,451
3,000	Sovran Self Storage, Inc.		103,290

			3,528,961

	Technology — 2.8%
14,000	Intel Corp.		272,300
1,500	International Business Machines Corp.		185,220
5,000	Microsoft Corp.		115,050
18,124	Taiwan Semiconductor Manufacturing Co. Ltd. ADR		176,890
4,000	Texas Instruments, Inc.		93,120

			842,580

	Telecommunications — 2.6%
15,500	AT&T, Inc.		374,945
9,000	CenturyTel, Inc.		299,790
3,500	Verizon Communications, Inc.		98,070

			772,805

	Utilities — 3.5%
13,500	Nicor, Inc.		546,750
33,500	TECO Energy, Inc.		504,845

			1,051,595

	Total Common Stocks (Cost $21,699,593)		21,570,256

	Preferred Stocks — 25.9%
	Consumer Discretionary — 1.2%
1,000	Comcast Corp., 7.000%		25,640
13,000	Viacom, Inc., 6.850%		323,830

			349,470

	Financials — 21.4%
15,000	Allianz SE, 8.375%		379,219
6,000	ASBC Capital I, 7.625%		133,200
12,000	Barclays Bank PLC, Series 2, ADR 6.625%		244,080
16,000	BB&T Capital Trust V, 8.950%		428,480
14,000	Credit Suisse Guernsey, 7.900%		356,300
3,500	HSBC Holdings PLC, Series A, ADR 6.200%		75,075
15,000	JPM Chase Capital XXVI, 8.000%		396,000
5,000	KeyCorp Capital VIII, 7.000%		111,700
4,000	Lincoln National Capital VI, Series F, 6.750%		92,200
13,000	Merrill Lynch & Co. Capital Trust V, 7.280%		289,900
1,000	MetLife, Inc., Series B, 6.500%		23,260
20,000	Morgan Stanley Capital Trust, 6.600%		436,800
27,000	National City Capital Trust II, 6.625%		627,480


Shares		Value
	Financials — (continued)
12,104	Partnerre Ltd., Series D, 6.500%	$	265,078
11,914	PLC Capital Trust IV, 7.250%		287,485
20,000	Prudential Financial, Inc., 9.000%		543,600
5,000	Prudential PLC, 6.500%		116,500
21,003	RenaissanceRe Holdings Ltd., Series B, 7.300%		504,282
6,000	RenaissanceRe Holdings Ltd., Series C, 6.080%		117,540
4,692	SunTrust Capital IX, 7.875%		118,144
19,000	Telephone & Data Systems, Inc., Series A, 7.600%		474,430
16,000	Wachovia Capital Trust X, 7.850%		408,960

			6,429,713

	Real Estate Investment Trusts — 1.9%
8,000	Public Storage, Series F, 6.450%		186,960
16,000	Vornado Realty LP, 7.875%		401,920

			588,880

	Utilities — 1.4%
11,000	Dominion Resources, Inc., Series A, 8.375%		305,800
4,000	Xcel Energy, Inc., 7.600%		106,800

			412,600

	Total Preferred Stocks (Cost $7,261,370)		7,780,663

	Mutual Funds — 1.4%
	Exchange Traded Funds — 1.4%
21,000	The Technology Select Sector SPDR Fund		428,400

	Total Mutual Funds (Cost $383,684)		428,400

	Cash Equivalents — 0.7%
201,381	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		201,381

	Total Cash Equivalents (Cost $201,381)		201,381

	Total Investments (Cost $29,546,028) — 99.7%		29,980,700

	Other Assets in Excess of Liabilities — 0.3%		98,112

	Net Assets — 100.0%	$	30,078,812

(a)	Rate disclosed is the seven day yield as of June 30, 2010.

(b)	Investment in affiliate.


ADR		—American Depositary Receipt
LP		—Limited Partnership
PLC		—Public Liability Co.
REIT		—Real Estate Investment Trust

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		3

Huntington VA Growth Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2010


Asset Allocation	Percentage of Market Value
Technology	34.2	%
Energy	16.3	%
Industrials	14.5	%
Consumer Discretionary	9.5	%
Consumer Staples	7.1	%
Health Care	7.1	%
Financials	5.3	%
Materials	4.1	%
Telecommunications	1.0	%
Utilities	0.5	%
Cash¹	0.4	%
Total	100.0	%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2010


Shares		Value
	Common Stocks — 98.4%
	Consumer Discretionary — 9.4%
3,900	Coach, Inc.	$	142,545
17,970	Crocs, Inc.*		190,123
10,450	Ctrip.com International Ltd. ADR*		392,502
4,275	DIRECTV, Class A*		145,008
4,680	Netflix, Inc.*		508,482

			1,378,660

	Consumer Staples — 7.0%
3,940	Colgate-Palmolive Co.		310,315
6,150	General Mills, Inc.		218,448
4,990	Hormel Foods Corp.		201,995
3,950	McCormick & Co., Inc.		149,942
2,490	Procter & Gamble Co.		149,350

			1,030,050

	Energy — 16.1%
3,880	China Petroleum & Chemical Corp. ADR		312,379
1,840	CNOOC Ltd. ADR		313,113
5,760	ConocoPhillips		282,758
2,110	Core Laboratories NV		311,457
6,520	Enbridge, Inc.		303,832
2,800	EOG Resources, Inc.		275,436
4,980	Exxon Mobil Corp.		284,209
7,290	Peabody Energy Corp.		285,258

			2,368,442

	Financials — 5.3%
4,540	China Life Insurance Co. Ltd. ADR		296,008
16,350	Hudson City Bancorp, Inc.		200,124
4,010	JPMorgan Chase & Co.		146,806


Shares		Value
	Financials — (continued)
2,500	Prudential Financial, Inc.	$	134,150

			777,088

	Health Care — 7.0%
9,030	Eli Lilly & Co.		302,505
3,290	Express Scripts, Inc.*		154,696
4,400	Mindray Medical International Ltd. ADR		138,248
3,742	Novo-Nordisk A/S ADR		303,177
2,420	Varian Medical Systems, Inc.*		126,517

			1,025,143

	Industrials — 14.3%
7,990	Caterpillar, Inc.		479,959
9,380	CSX Corp.		465,529
4,760	Deere & Co.		265,037
6,920	Union Pacific Corp.		481,009
4,170	W.W. Grainger, Inc.		414,707

			2,106,241

	Materials — 4.0%
4,300	Aluminum Corp. of China Ltd. ADR*		80,238
2,180	ArcelorMittal, Class A NYS		58,337
1,290	BHP Billiton Ltd. ADR		79,967
2,070	Du Pont (E.I.) de Nemours & Co.		71,601
1,200	Freeport-McMoran Copper & Gold, Inc., Class B		70,956
1,120	Praxair, Inc.		85,109
1,830	Rio Tinto PLC ADR		79,788
2,675	Vale SA ADR		65,136

			591,132

See Notes which are an integral part of the Financial Statements.


		4

Huntington VA Growth Fund

Portfolio of Investments (continued)

June 30, 2010


Shares		Value
	Common Stocks — (continued)
	Technology — 33.8%
16,540	Akamai Technologies, Inc.*	$	671,028
2,770	Apple, Inc.*		696,738
9,840	Baidu, Inc. SP ADR*		669,907
4,420	Cognizant Technology Solutions Corp., Class A*		221,265
320	Google, Inc., Class A*		142,384
11,550	NetApp, Inc.*		430,931
6,450	Oracle Corp.		138,417
8,060	Salesforce.com, Inc.*		691,709
15,990	SanDisk Corp.*		672,699
10,010	VMware, Inc., Class A*		626,526

			4,961,604

	Telecommunications — 1.0%
2,960	America Movil SA de CV ADR, Series L		140,600

	Utilities — 0. 5%
1,520	NextEra Energy, Inc.		74,115

	Total Common Stocks (Cost $14,828,606)		14,453,075


Shares		Value
	Cash Equivalents — 0.4%
56,505	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)	$	56,505

	Total Cash Equivalents (Cost $56,505)		56,505

	Total Investments (Cost $14,885,111) — 98.8%		14,509,580

	Other Assets in Excess of Liabilities — 1.2%		180,034

	Net Assets — 100.0%	$	14,689,614

(a)	Rate disclosed is the seven day yield as of June 30, 2010.

(b)	Investment in affiliate.

*	Non-income producing security.


ADR		—American Depositary Receipt
NYS		—New York Shares
PLC		—Public Liability Co.

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		5

Huntington VA Income Equity Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2010


Asset Allocation	Percentage of Market Value
Financials	15.7	%
Industrials	13.8	%
Consumer Staples	12.8	%
Energy	11.5	%
Health Care	11.4	%
Consumer Discretionary	9.7	%
Technology	6.6	%
Utilities	5.7	%
Real Estate Investment Trusts	4.6	%
Telecommunications	4.1	%
Materials	2.4	%
Cash¹	1.7	%
Total	100.0	%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2010


Shares		Value
	Common Stocks — 98.1%
	Consumer Discretionary — 9.7%
17,900	Comcast Corp., Class A	$	310,923
13,000	Limited Brands, Inc.		286,910
9,400	The McGraw-Hill Cos., Inc.		264,516
4,800	Time Warner Cable, Inc.		249,984
12,700	Time Warner, Inc. (a)		367,157
4,100	Whirlpool Corp.		360,062

			1,839,552

	Consumer Staples — 12.8%
18,500	ConAgra Foods, Inc.		431,420
9,400	General Mills, Inc.		333,888
4,300	Kimberly-Clark Corp.		260,709
4,200	PepsiCo, Inc.		255,990
6,400	Reynolds American, Inc.		333,568
38,300	Sara Lee Corp.		540,030
9,100	Sysco Corp.		259,987

			2,415,592

	Energy — 11.4%
4,600	Chevron Texaco Corp.		312,156
4,600	ConocoPhillips		225,814
14,900	Enerplus Resources Fund		321,393
6,900	Eni SpA ADR		252,195
16,500	Penn West Energy Trust		313,830
13,500	Repsol YPF SA ADR		271,350
4,400	Royal Dutch Shell PLC ADR		220,968
5,600	Total SA ADR		249,984

			2,167,690


Shares		Value
	Financials — 15.6%
7,700	Bank of Montreal	$	417,956
6,000	Canadian Imperial Bank of Commerce		373,380
7,500	Chubb Corp.		375,075
8,700	The Bank of Nova Scotia		400,374
7,000	The Toronto-Dominion Bank		454,370
10,600	The Travelers Cos., Inc.		522,050
26,100	XL Capital Ltd., Class A (a)		417,861

			2,961,066

	Health Care — 11.4%
5,500	Abbott Laboratories		257,290
10,800	AstraZeneca PLC ADR (a)		509,004
12,800	Eli Lilly & Co.		428,800
6,100	Merck & Co., Inc.		213,317
23,700	Pfizer, Inc.		337,962
13,700	Sanofi-Aventis ADR		411,822

			2,158,195

	Industrials — 13.7%
5,200	3M Co.		410,748
6,400	Caterpillar, Inc.		384,448
6,000	General Dynamics Corp.		351,360
22,300	General Electric Co.		321,566
8,200	Northrop Grumman Corp.		446,408
16,300	Pitney Bowes, Inc.		357,948
20,100	R.R. Donnelley & Sons Co.		329,037

			2,601,515

See Notes which are an integral part of the Financial Statements.


		6

Huntington VA Income Equity Fund

Portfolio of Investments (continued)

June 30, 2010


Shares		Value
	Common Stocks — (continued)
	Materials — 2.4%
4,600	Eastman Chemical Co.	$	245,456
9,200	MeadWestvaco Corp.		204,240

			449,696

	Real Estate Investment Trusts — 4.6%
14,100	HCP, Inc. (a)		454,725
13,900	Mack-Cali Realty Corp.		413,247

			867,972

	Technology — 6.6%
5,400	Hewlett-Packard Co.		233,712
18,300	Intel Corp. (a)		355,935
2,300	International Business Machines Corp.		284,004
16,500	Microsoft Corp. (a)		379,665

			1,253,316

	Telecommunications — 4.2%
9,100	AT&T, Inc.		220,129
9,100	Vodafone Group PLC ADR		188,097
35,800	Windstream Corp.		378,048

			786,274


Shares		Value
	Utilities — 5.7%
5,300	DTE Energy Co.	$	241,733
16,000	Duke Energy Corp.		256,000
25,400	NiSource, Inc.		368,300
5,200	Progress Energy, Inc.		203,944

			1,069,977

	Total Common Stocks (Cost $18,658,188)		18,570,845

	Cash Equivalents — 1.7%
319,828	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)		319,828

	Total Cash Equivalents (Cost $319,828)		319,828

	Total Investments (Cost $18,978,016) — 99.8%		18,890,673

	Other Assets in Excess of Liabilities — 0.2%		43,752

	Net Assets — 100.0%	$	18,934,425

(a)	All or a portion of the security is held as collateral for options.

(b)	Investment in affiliate.

(c)	Rate disclosed is the seven day yield as of June 30, 2010.


ADR		—American Depositary Receipt
PLC		—Public Liability Co.

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		7

Huntington VA International Equity Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2010


Asset Allocation	Percentage of Market Value
United Kingdom	18.5	%
Japan	17.1	%
Switzerland	9.3	%
Germany	7.6	%
France	6.4	%
Cash¹	6.3	%
Australia	5.9	%
Canada	5.5	%
Exchange Traded Funds	4.7	%
Singapore	3.3	%
Hong Kong	2.9	%
Netherlands	2.9	%
Spain	2.4	%
Italy	2.1	%
Taiwan	2.1	%
Mexico	1.7	%
Netherlands Antilles	1.3	%
Total	100.0	%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2010


Shares		Value
	Common Stocks — 88.7%
	Australia — 5.9%
	Consumer Staples — 3.4%
70,000	Foster’s Group Ltd.	$	331,060
11,600	Woolworths Ltd.		262,890

			593,950

	Materials — 2.5%
14,000	BHP Billiton Ltd.		435,270

			1,029,220

	Canada — 5.5%
	Energy — 2.0%
6,870	Cenovus Energy, Inc.		177,177
5,870	EnCana Corp.		178,096

			355,273

	Materials — 1.5%
3,000	Potash Corp. of Saskatchewan, Inc.		258,720

	Telecommunications — 2.0%
12,000	BCE, Inc.		351,240

			965,233

	France — 6.4%
	Energy — 1.5%
6,000	Total SA ADR		267,840


Shares		Value
	France — (continued)
	Financials — 2.2%
3,709	AXA ADR	$	56,562
6,147	BNP Paribas		328,176

			384,738

	Materials — 1.6%
5,200	Lafarge SA		281,145

	Utilities — 1.1%
1,600	GDF Suez		45,263
4,823	GDF Suez ADR		137,214

			182,477

			1,116,200

	Germany — 7.6%
	Consumer Discretionary — 1.4%
4,800	Henkel AG & Co. KGaA		233,220

	Health Care — 1.6%
8,500	Stada Arzneimittel AG		281,577

	Industrials — 3.4%
13,000	GEA Group AG		258,450
3,836	Siemens AG ADR		343,437

			601,887

See Notes which are an integral part of the Financial Statements.


		8

Huntington VA International Equity Fund

Portfolio of Investments (continued)

June 30, 2010


Shares		Value
	Common Stocks — (continued)
	Germany — (continued)
	Utilities — 1.2%
8,000	E.ON AG ADR	$	214,400

			1,331,084

	Hong Kong — 2.9%
	Consumer Discretionary — 1.2%
65,000	MTR Corp. Ltd.		221,490

	Financials — 1.7%
61,000	The Wharf (Holdings) Ltd.		295,304

			516,794

	Italy — 2.1%
	Energy — 2.1%
12,200	Saipem SpA		370,724

	Japan — 17.0%
	Consumer Discretionary — 3.7%
7,010	Honda Motor Co. Ltd. ADR		201,538
4,900	Makita Corp.		130,737
25,390	Panasonic Corp. ADR		318,137

			650,412

	Consumer Staples — 3.9%
14,000	Shiseido Co. Ltd.		307,994
3,400	Unicharm Corp.		382,951

			690,945

	Financials — 1.2%
49	Japan Prime Realty Investment Corp.		102,987
13	Japan Real Estate Investment Corp.		106,040

			209,027

	Industrials — 3.5%
2,700	FANUC Ltd.		302,965
17,600	KOMATSU Ltd.		318,087

			621,052

	Technology — 3.8%
9,351	Canon, Inc. ADR*		348,886
1,400	KEYENCE Corp.		322,109

			670,995

	Utilities — 0.9%
5,500	The Tokyo Electric Power Co., Inc.		149,749

			2,992,180

	Mexico — 1.7%
	Telecommunications — 1.7%
6,200	America Movil SA de CV ADR, Series L		294,500

	Netherlands — 2.9%
	Consumer Discretionary — 1.8%
10,725	Koninklijke (Royal) Phillips Electronics NV NYS		320,034

	Financials — 1.1%
26,172	ING Groep NV ADR*		193,934

			513,968


Shares		Value
	Netherlands Antilles — 1.3%
	Energy — 1.3%
4,080	Schlumberger Ltd.	$	225,787

	Singapore — 3.2%
	Financials — 0.0%
10,200	K-Green Trust*		7,655

	Industrials — 1.7%
51,000	Keppel Corp. Ltd.		307,367

	Telecommunications — 1.5%
12,005	Singapore Telecommunications ADR		256,187

			571,209

	Spain — 2.3%
	Financials — 2.3%
21,708	Banco Bilbao Vizcaya Argentaria SA ADR		223,375
18,000	Banco Santander SA		189,121

			412,496

	Switzerland — 9.3%
	Financials — 2.9%
10,000	ACE Ltd.		514,800

	Health Care — 4.3%
9,690	Novartis AG ADR		468,221
2,080	Roche Holding AG		285,726

			753,947

	Materials — 2.1%
8,030	Syngenta AG ADR		368,175

			1,636,922

	Taiwan — 2.1%
	Technology — 2.1%
37,677	Taiwan Semiconductor Manufacturing Co. Ltd. ADR		367,728

	United Kingdom — 18.5%
	Consumer Discretionary — 1.9%
24,750	Pearson PLC ADR		325,463

	Consumer Staples — 4.6%
3,400	Diageo PLC ADR		213,316
6,600	Reckitt Benckiser Group PLC		305,252
10,000	Tesco PLC		56,297
13,874	Tesco PLC ADR		234,887

			809,752

	Energy — 2.6%
3,750	BG Group PLC ADR		280,125
7,200	Royal Dutch Shell PLC, Class A		181,800

			461,925

	Financials — 4.0%
63,000	Barclays PLC		249,731
18,300	Standard Chartered PLC		444,189

			693,920

	Health Care — 1.9%
9,645	GlaxoSmithKline PLC ADR		328,026

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		9

Huntington VA International Equity Fund

Portfolio of Investments (continued)

June 30, 2010


Shares		Value
	Common Stocks — (continued)
	United Kingdom — (continued)
	Industrials — 1.7%
36,200	Rolls-Royce Group PLC	$	301,416

	Telecommunications — 1.0%
86,000	Vodafone Group PLC		178,187

	Utilities — 0.8%
4,300	Scottish & Southern Energy PLC		71,274
4,525	Scottish & Southern Energy PLC ADR		74,753

			146,027

			3,244,716

	Total Common Stocks (Cost $16,564,465)		15,588,761

	Mutual Funds — 4.7%
	Exchange Traded Funds — 4.7%
15,200	iShares MSCI Hong Kong Index Fund		224,504
4,800	iShares MSCI South Korea Index Fund		214,608
16,300	iShares MSCI Taiwan Index Fund		182,560
8,966	Morgan Stanley India Fund		198,686

	Total Mutual Funds (Cost $702,770)		820,358


Shares		Value
	Cash Equivalents — 6.2%
1,100,869	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)	$	1,100,869

	Total Cash Equivalents (Cost $1,100,869)		1,100,869

	Total Investments (Cost $18,368,104) — 99.6%		17,509,988

	Other Assets in Excess of Liabilities — 0.4%		69,794

	Net Assets — 100.0%	$	17,579,782

(a)	Investment in affiliate.

(b)	Rate disclosed is the seven day yield as of June 30, 2010.

*	Non-income producing security.


ADR		—American Depositary Receipt
NYS		—New York Shares
PLC		—Public Liability Co.

See Notes which are an integral part of the Financial Statements.


		10

Huntington VA Macro 100 Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2010


Asset Allocation	Percentage of Market Value
Technology	17.4	%
Health Care	11.6	%
Industrials	11.3	%
Energy	11.2	%
Consumer Discretionary	11.1	%
Consumer Staples	10.9	%
Financials	9.2	%
Cash¹	5.0	%
Materials	4.6	%
Utilities	3.4	%
Telecommunications	2.7	%
Real Estate Investment Trusts	1.6	%
Total	100.0	%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2010


Shares		Value
	Common Stocks — 94.9%
	Consumer Discretionary — 11.1%
300	AutoZone, Inc.*	$	57,966
1,700	Family Dollar Stores, Inc.		64,073
2,500	GameStop Corp.*		46,975
1,900	H&R Block, Inc.		29,811
1,100	Hasbro, Inc.		45,210
2,100	Johnson Controls, Inc.		56,427
2,000	Leggett & Platt, Inc.		40,120
1,200	Meredith Corp.		37,356
3,700	Newell Rubbermaid, Inc.		54,168
1,300	Omnicom Group, Inc.		44,590
2,500	Staples, Inc.		47,625
500	Starwood Hotels & Resorts Worldwide, Inc.		20,715
1,000	The TJX Cos., Inc.		41,950

			586,986

	Consumer Staples — 10.9%
1,700	Avon Products, Inc.		45,050
1,000	Colgate-Palmolive Co.		78,760
1,700	Constellation Brands, Inc.*		26,554
1,500	Dr. Pepper Snapple Group, Inc.		56,085
1,500	Kellogg Co.		75,450
1,100	McCormick & Co., Inc.		41,756
1,400	Procter & Gamble Co.		83,972
2,100	Sysco Corp.		59,997
800	The Clorox Co.		49,728
1,200	The Hershey Co.		57,516

			574,868


Shares		Value
	Energy — 11.2%
900	Apache Corp.	$	75,771
600	Baker Hughes, Inc.		24,942
500	ConocoPhillips		24,545
800	Denbury Resources, Inc.*		11,712
1,100	Devon Energy Corp.		67,012
600	Entergy Corp.		42,972
700	EOG Resources, Inc.		68,859
994	Exxon Mobil Corp.		56,712
700	Integrys Energy Group, Inc.		30,618
1,900	Marathon Oil Corp.		59,071
500	Occidental Petroleum Corp.		38,575
900	Peabody Energy Corp.		35,217
300	PPL Corp.		7,485
700	Range Resources Corp.		28,105
900	Rowan Cos., Inc.*		19,746

			591,342

	Financials — 9.2%
2,700	Hudson City Bancorp, Inc.		33,048
2,900	JPMorgan Chase & Co.		106,169
1,300	Lincoln National Corp.		31,577
2,300	Marshall & Ilsley Corp.		16,514
2,000	Morgan Stanley		46,420
1,600	The Allstate Corp.		45,968
700	Torchmark Corp.		34,657
3,000	U.S. Bancorp		67,050
4,054	Wells Fargo & Co.		103,782

			485,185

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		11

Huntington VA Macro 100 Fund

Portfolio of Investments (continued)

June 30, 2010


Shares		Value
	Common Stocks — (continued)
	Health Care — 11.6%
1,000	Becton, Dickinson & Co.	$	67,620
500	C.R. Bard, Inc.		38,765
1,000	Genzyme Corp.*		50,770
800	Gilead Sciences, Inc.*		27,424
1,400	Johnson & Johnson		82,684
1,100	McKesson Corp.		73,876
1,850	Medtronic, Inc.		67,099
4,200	Mylan Laboratories, Inc.*		71,568
1,300	Patterson Cos., Inc.		37,089
900	Stryker Corp.		45,054
900	Zimmer Holdings, Inc.*		48,645

			610,594

	Industrials — 11.3%
600	Cummins, Inc.		39,078
500	Flowserve Corp.		42,400
1,100	General Dynamics Corp.		64,416
1,400	Illinois Tool Works, Inc.		57,792
800	ITT Corp.		35,936
600	Jacobs Engineering Group, Inc.*		21,864
1,000	Pall Corp.		34,370
1,350	Republic Services, Inc., Class A		40,135
1,400	Union Pacific Corp.		97,314
1,000	United Parcel Service, Inc., Class B		56,890
1,300	United Technologies Corp.		84,383
250	W.W. Grainger, Inc.		24,863

			599,441

	Materials — 4.6%
1,800	Ball Corp.		95,094
1,000	Ecolab, Inc.		44,910
1,700	Pactiv Corp.*		47,345
500	The Dow Chemical Co.		11,860
2,500	Titanium Metals Corp.*		43,975

			599,441

	Real Estate Investment Trusts — 1.6%
1,400	HCP, Inc.		45,150
3,000	Host Hotels & Resorts, Inc.		40,440

			85,590


Shares		Value
	Technology — 17.3%
300	Apple, Inc.*	$	75,459
1,200	BMC Software, Inc.*		41,556
4,200	Cisco Systems, Inc.*		89,502
1,500	Cognizant Technology Solutions Corp., Class A*		75,090
2,100	eBay, Inc.*		41,181
2,400	EMC Corp.*		43,920
1,500	Fiserv, Inc.*		68,490
125	Google, Inc., Class A*		55,619
1,700	Intuit, Inc.*		59,109
15,800	Jabil Circuit, Inc.		210,140
3,500	Monster Worldwide, Inc.*		40,775
3,800	Symantec Corp.*		52,744
7,848	Xerox Corp.		63,098

			916,683

	Telecommunications — 2.7%
1,700	CenturyTel, Inc.		56,627
3,000	Verizon Communications, Inc.		84,060

			140,687

	Utilities — 3.4%
1,300	Consolidated Edison, Inc.		56,030
1,000	Dominion Resources, Inc.		38,740
1,100	Pinnacle West Capital Corp.		39,996
1,200	Progress Energy, Inc.		47,064

			181,830

	Total Common Stocks (Cost $5,396,994)		5,016,390

	Cash Equivalents — 5.1%
266,528	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		266,528

	Total Cash Equivalents (Cost $266,528)		266,528

	Total Investments (Cost $5,663,522) — 100.0%		5,282,918

	Other Assets in Excess of Liabilities — 0.0%		944

	Net Assets — 100.0%	$	5,283,862

(a)	Investment in affiliate.

(b)	Rate disclosed is the seven day yield as of June 30, 2010.

*	Non-income producing security.

See Notes which are an integral part of the Financial Statements.


		12

Huntington VA Mid Corp America Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2010


Asset Allocation	Percentage of Market Value
Industrials	18.5	%
Technology	15.2	%
Consumer Discretionary	12.6	%
Health Care	11.7	%
Financials	10.9	%
Energy	7.4	%
Materials	6.7	%
Utilities	4.4	%
Consumer Staples	4.0	%
Cash¹	3.8	%
Real Estate Investment Trusts	3.7	%
Telecommunications	1.1	%
Total	100.0	%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2010


Shares		Value
	Common Stocks — 96.2%
	Consumer Discretionary — 12.6%
910	Advance Auto Parts, Inc.	$	45,664
3,290	Aeropostale, Inc.*		94,226
2,100	Best Buy Co., Inc.		71,106
3,320	Bob Evans Farms, Inc.		81,738
4,200	BorgWarner, Inc.*		156,828
4,010	Fidelity National Title Group, Inc., Class A		52,090
3,700	GameStop Corp.*		69,523
2,700	Guess?, Inc.		84,348
2,500	Hanover Insurance Group, Inc.		108,750
2,790	Harman International Industries, Inc.*		83,393
4,750	Hewitt Associates, Inc., Class A*		163,685
3,900	J. Crew Group, Inc.*		143,559
2,700	Kohl’s Corp.*		128,250
5,158	Nordstrom, Inc.		166,036
3,220	PetSmart, Inc.		97,147
850	Polo Ralph Lauren Corp.		62,016
2,040	Ross Stores, Inc.		108,712
4,782	Royal Caribbean Cruises Ltd.*		108,886
1,300	UniFirst Corp.		57,226
2,020	V.F. Corp.		143,783
1,030	Whirlpool Corp.		90,455
1,000	Wolverine World Wide, Inc.		25,220

			2,142,641

	Consumer Staples — 4.0%
4,130	Church & Dwight Co., Inc.		258,992
3,370	Constellation Brands, Inc.*		52,639
3,700	Dr. Pepper Snapple Group, Inc.		138,343


Shares		Value
	Consumer Staples — (continued)
2,560	NBTY, Inc.*	$	87,066
2,711	Ralcorp Holding, Inc.*		148,563

			685,603

	Energy — 7.4%
2,100	Baker Hughes, Inc.		87,297
6,058	Chesapeake Energy Corp.		126,915
1,500	Forest Oil Corp.*		41,040
3,800	Helmerich & Payne, Inc.		138,776
3,670	Murphy Oil Corp.		181,848
3,600	National Fuel Gas Co.		165,168
4,584	Noble Energy, Inc.		276,553
8,500	Spectra Energy Corp.		170,595
1,493	Unit Corp.*		60,601

			1,248,793

	Financials — 10.9%
1,300	Allied World Assurance Co. Holdings Ltd.		58,994
2,700	BancorpSouth, Inc.		48,276
5,000	Cincinnati Financial Corp.		129,350
3,459	City National Corp.		177,204
4,610	CoreLogic, Inc.		81,413
580	Everest Re Group Ltd.		41,018
4,610	First American Financial Corp.		58,455
2,234	FirstMerit Corp.		38,268
1,210	HCC Insurance Holdings, Inc.		29,960
6,970	Hudson City Bancorp, Inc.		85,313
2,800	Invesco Ltd.		47,124
1,300	Jones Lang LaSalle, Inc.		85,332
2,567	Legg Mason, Inc.		71,953

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		13

Huntington VA Mid Corp America Fund

Portfolio of Investments (continued)

June 30, 2010


Shares		Value
	Common Stocks — (continued)
	Financials — (continued)
3,700	Lincoln National Corp.	$	89,873
8,036	Old Republic International Corp.		97,477
5,840	Principal Financial Group		136,890
2,830	Prosperity Bancshares, Inc.		98,342
2,900	T. Rowe Price Group, Inc.		128,731
3,907	Torchmark Corp.		193,435
3,510	Trustmark Corp.		73,078
2,100	Unum Group		45,570
2,700	Wilmington Trust Corp.		29,943

			1,845,999

	Health Care — 11.7%
7,700	AmerisourceBergen Corp.		244,475
1,580	Biogen Idec, Inc.*		74,971
1,776	Cephalon, Inc.*		100,788
2,400	Coventry Health Care, Inc.*		42,432
6,356	Life Technologies Corp.*		300,321
5,749	Lincare Holdings, Inc.*		186,900
4,280	Owens & Minor, Inc.		121,466
4,900	PDL BioPharma, Inc.		27,538
2,100	Quest Diagnostics, Inc.		104,517
4,240	St. Jude Medical, Inc.*		153,022
8,813	Thermo Fisher Scientific, Inc.*		432,278
5,020	Watson Pharmaceutical, Inc.*		203,661

			1,992,369

	Industrials — 18.5%
1,275	Alliant Techsystems, Inc.*		79,127
3,900	CNH Global NV NYS*		88,335
6,112	Cooper Industries PLC		268,928
4,400	Cummins, Inc.		286,572
2,100	Elbit Systems Ltd.		105,525
3,000	EMCOR Group, Inc.*		69,510
400	G&K Services, Inc., Class A		8,260
3,700	General Cable Corp.*		98,605
3,400	ITT Corp.		152,728
6,900	John Bean Technologies Corp.		105,225
6,938	Kennametal, Inc.		176,433
5,059	L-3 Communications Holdings, Inc.		358,380
2,000	Ladish Co., Inc.*		45,440
2,500	Mohawk Industries, Inc.*		114,400
3,379	Pall Corp.		116,136
3,034	Parker Hannifin Corp.		168,266
1,900	Precision Castparts Corp.		195,548
2,600	Quanex Building Products Corp.		44,954
900	R.R. Donnelley & Sons Co.		14,733
2,000	Rayonier, Inc.		88,040
400	Rockwell International Corp.		19,636
2,700	Ryder System, Inc.		108,621
2,093	Stanley Black & Decker Inc.		105,738
2,821	Teleflex, Inc.		153,124
3,900	Thomas & Betts Corp.*		135,330
3,228	Weatherford International Ltd.*		42,416

			3,150,010


Shares		Value
	Materials — 6.7%
2,200	Albemarle Corp.	$	87,362
2,300	AptarGroup, Inc.		86,986
800	Ball Corp.		42,264
3,800	Cytec Industries, Inc.		151,962
3,500	FMC Corp.		201,005
1,800	Innophos Holdings, Inc.		46,944
3,500	Intrepid Potash, Inc.*		68,495
2,460	Lubrizol Corp.		197,563
400	Minerals Technologies, Inc.		19,016
2,400	Pactiv Corp.*		66,840
1,550	PPG Industries, Inc.		93,635
2,700	RPM International, Inc.		48,168
800	Schnitzer Steel Industries, Inc.		31,360

			1,141,600

	Real Estate Investment Trusts — 3.7%
1,270	Alexandria Real Estate Equities, Inc.		80,480
1,200	Federal Realty Investment Trust		84,324
1,600	Home Properties, Inc.		72,112
3,631	Host Hotels & Resorts, Inc.		48,946
1,600	Liberty Property Trust		46,160
1,700	Mid-America Apartment Communities, Inc.		87,499
2,140	PS Business Parks, Inc.		119,369
2,340	Sovran Self Storage, Inc.		80,566

			619,456

	Technology — 15.2%
29,008	Activision Blizzard, Inc.		304,294
1,400	Amdocs Ltd.*		37,590
6,200	Arris Group, Inc.*		63,178
2,895	Benchmark Electronics, Inc.*		45,886
2,430	BMC Software, Inc.*		84,151
3,100	Broadcom Corp., Class A		102,207
2,800	Citrix Systems, Inc.*		118,244
6,900	CTS Corp.		63,756
1,000	Cymer, Inc.*		30,040
1,960	Electronic Arts, Inc.*		28,224
4,205	Fidelity National Information Services, Inc.		112,778
1,800	Fiserv, Inc.*		82,188
3,632	FLIR Systems, Inc.*		105,655
5,210	Forrester Research, Inc.*		157,654
4,300	Harris Corp.		179,095
7,580	infoGROUP, Inc.*		60,488
6,610	Integrated Device Technology, Inc.*		32,719
1,500	Intersil Corp., Class A		18,165
3,700	JDA Software Group, Inc.*		81,326
1,400	Molex, Inc.		25,536
2,000	Multi-Fineline Electronix, Inc.*		49,920
3,948	NCR Corp.*		47,850
6,400	NVIDIA Corp.*		65,344
14,520	ON Semiconductor Corp.*		92,638
3,100	Parametric Technology Corp.*		48,577
2,240	Progress Software Corp.*		67,267
4,100	Synopsys, Inc.*		85,567

See Notes which are an integral part of the Financial Statements.


		14

Huntington VA Mid Corp America Fund

Portfolio of Investments (continued)

June 30, 2010


Shares		Value
	Common Stocks — (continued)
	Technology — (continued)
2,700	Syntel, Inc.	$	91,665
6,468	Teradata Corp.*		197,145
3,762	Varian Semiconductor Equipment Associates, Inc.*		107,819

			2,586,966

	Telecommunications — 1.1%
6,942	Aviat Networks, Inc.*		25,200
3,417	CenturyTel, Inc.		113,820
1,200	Telus Corp.		43,440

			182,460

	Utilities — 4.4%
1,500	AGL Resources, Inc.		53,730
2,000	Atmos Energy Corp.		54,080
1,000	Constellation Energy Group, Inc.		32,250
7,881	MDU Resources Group, Inc.		142,094
1,800	New Jersey Resources Corp.		63,360
8,128	Questar Corp.		369,743
1,670	Xcel Energy, Inc.		34,419

			749,676

	Total Common Stocks (Cost $12,573,436)		16,345,573


Shares		Value
	Cash Equivalents — 3.8%
644,589	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)	$	644,589

	Total Cash Equivalents (Cost $644,589)		644,589

	Total Investments (Cost $13,218,025) — 100.0%		16,990,162

	Other Assets in Excess of Liabilities — 0.0%		6,240

	Net Assets — 100.0%	$	16,996,402

(a)	Rate disclosed is the seven day yield as of June 30, 2010.

(b)	Investment in affiliate.

*	Non-income producing security.


NYS		—New York Shares
PLC		—Public Liability Co.

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		15

Huntington VA New Economy Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2010


Asset Allocation	Percentage of Market Value
Technology	17.7	%
Consumer Discretionary	16.5	%
Health Care	15.5	%
Energy	12.0	%
Industrials	10.0	%
Financials	7.6	%
Materials	6.8	%
Cash¹	4.2	%
Consumer Staples	3.7	%
Utilities	2.5	%
Real Estate Investment Trusts	1.2	%
Telecommunications	1.2	%
Transportation	1.1	%
Total	100.0	%

¹ Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2010


Shares			Value
	Common Stocks — 97.8%
	Consumer Discretionary — 16.8%
1,400	Advance Auto Parts, Inc. (a)		$	70,252
6,230	Aeropostale, Inc.*			178,428
2,800	Bally Technologies, Inc.*			90,692
1,500	Coinstar, Inc.*			64,455
1,200	DG FastChannel, Inc.*			39,096
2,100	DreamWorks Animation SKG, Inc., Class A*			59,955
2,300	Fossil, Inc.*			79,810
2,000	Helen of Troy Ltd.*			44,120
3,200	Iconix Brand Group, Inc.*			45,984
3,300	Las Vegas Sands Corp.*			73,062
3,700	Limited Brands, Inc.			81,659
4,160	Lululemon Athletica, Inc.* (a)			154,835
1,300	Netflix, Inc.*			141,245
2,270	O’Reilly Automative, Inc.* (a)			107,961
1,400	Phillips-Van Heusen Corp.			64,778
1,400	Skechers USA, Inc.*	��		51,128
2,660	The Buckle, Inc.			86,237
7,000	True Religion Apparel, Inc.* (a)			154,490
4,300	United Rentals, Inc.*			40,076
1,500	Wynn Resorts Ltd. (a)			114,405
2,800	Zumiez, Inc.*			45,108

				1,787,776

	Consumer Staples — 3.7%
1,700	Diamond Foods, Inc.			69,870
1,100	Energizer Holdings, Inc.*			55,308


Shares		Value
	Consumer Staples — (continued)
4,200	Green Mountain Coffee Roasters, Inc.*	$	107,940
4,200	Hansen Natural Corp.*		164,262

			397,380

	Energy — 12.3%
2,700	Alpha Natural Resources, Inc.*		91,449
1,800	Baker Hughes, Inc.		74,826
1,000	Cimarex Energy Co.		71,580
4,600	Comstock Resources, Inc.*		127,512
2,500	Forest Oil Corp.* (a)		68,400
7,300	Helix Energy Solutions Group, Inc.*		78,621
3,400	Helmerich & Payne, Inc. (a)		124,168
2,800	Lufkin Industries, Inc.		109,172
1,200	Oil States International, Inc.*		47,496
9,500	Patterson-Uti Energy, Inc. (a)		122,265
2,400	Petroleo Brasileiro SA ADR		82,368
3,300	Plains Exploration & Production Co.*		68,013
4,000	Quicksilver Resources, Inc.*		44,000
2,200	Range Resources Corp.		88,330
3,100	Superior Energy Services, Inc.*		57,877
1,100	Unit Corp.* (a)		44,649

			1,300,726

	Financials — 7.8%
7,500	AmeriCredit Corp.*		136,650
1,300	Ameriprise Financial, Inc.		46,969
3,500	Eaton Vance Corp.		96,635
1,320	Everest Re Group Ltd.		93,350
9,400	New York Community Bancorp, Inc.		143,538
2,900	Protective Life Corp.		62,031

See Notes which are an integral part of the Financial Statements.


		16

Huntington VA New Economy Fund

Portfolio of Investments (continued)

June 30, 2010


Shares		Value
	Common Stocks — (continued)
	Financials — (continued)
1,800	SVB Financial Group*	$	74,214
36,500	Synovus Financial Corp.		92,710
1,500	Westamerica Bancorp		78,780

			824,877

	Health Care — 15.8%
6,100	AmerisourceBergen Corp.		193,675
1,800	Beckman Coulter, Inc.		108,522
6,400	Cepheid, Inc.*		102,528
1,500	HeartWare International, Inc.*		105,105
3,100	Illumina, Inc.*		134,943
300	Intuitive Surgical, Inc.* (a)		94,686
2,360	Life Technologies Corp.*		111,510
6,300	NxStage Medical, Inc.*		93,492
2,000	ResMed, Inc.*		121,620
2,600	Thoratec Corp.*		111,098
6,200	United Therapeutics Corp.*		302,622
5,900	Vertex Pharmaceuticals, Inc.*		194,110

			1,673,911

	Industrials — 10.2%
2,700	Bucyrus International, Inc. (a)		128,115
1,800	Crane Co.		54,378
3,500	Curtiss-Wright Corp.		101,640
3,700	Foster Wheeler AG*		77,922
2,200	Gardner Denver, Inc.		98,098
5,900	Insituform Technologies, Inc., Class A*		120,832
4,900	KBR, Inc.		99,666
1,500	Polaris Industries, Inc.		81,930
3,500	Robbins & Myers, Inc.		76,090
2,200	Rockwell International Corp.		107,998
2,300	Terex Corp.*		43,102
2,700	The Shaw Group, Inc.*		92,394

			1,082,165

	Materials — 7.0%
1,100	Ashland, Inc. (a)		51,062
1,800	Barrick Gold Corp.		81,738
1,500	CF Industries Holdings, Inc.		95,175
1,500	Cytec Industries, Inc. (a)		59,985
1,400	Freeport-McMoran Copper & Gold, Inc., Class B		82,782
700	Lubrizol Corp. (a)		56,217
1,000	NewMarket Corp. (a)		87,320
2,580	Pride International, Inc.* (a)		57,637
8,300	Steel Dynamics, Inc.		109,477
1,000	Walter Energy, Inc.		60,850

			742,243

	Real Estate Investment Trusts — 1.3%
1,000	SL Green Realty Corp.		55,040
2,100	The Macerich Co.		78,372

			133,412


Shares		Value
	Technology — 18.1%
2,700	Adobe Systems, Inc.*	$	71,361
3,100	Cognex Corp.		54,498
3,120	Cree, Inc.* (a)		187,294
2,800	F5 Networks, Inc.* (a)		191,996
1,300	FactSet Research Systems, Inc. (a)		87,087
1,900	Fiserv, Inc.*		86,754
14,800	Integrated Device Technology, Inc.*		73,260
3,100	Lam Research Corp.*		117,986
5,500	Marvell Technology Group Ltd.*		86,680
3,800	National Instruments Corp.		120,764
2,700	Quality Systems, Inc.		156,573
4,600	Rovi Corp.*		174,386
1,300	Salesforce.com, Inc.* (a)		111,566
2,060	SanDisk Corp.* (a)		86,664
1,300	Veeco Instruments, Inc.* (a)		44,564
1,800	VMware, Inc., Class A* (a)		112,662
6,800	Volterra Semiconductor Corp.*		156,808

			1,920,903

	Telecommunications — 1.2%
17,600	ADC Telecommunications, Inc.*		130,416

	Transportation — 1.1%
5,900	Knight Transportation, Inc.		119,416

	Utilities — 2.5%
1,600	Alliant Energy Corp.		50,784
3,185	FirstEnergy Corp.		112,208
1,600	IDACORP, Inc.		53,232
1,400	OGE Energy Corp.		51,184

			267,408

	Total Common Stocks (Cost $10,838,079)		10,380,633

	Cash Equivalents — 4.3%
451,451	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)		451,451

	Total Cash Equivalents (Cost $451,451)		451,451

	Total Investments (Cost $11,289,530) — 102.1%		10,832,084

	Liabilities in Excess of Other Assets — (2.1)%		(220,726	)

	Net Assets — 100.0%	$	10,611,358

(a)	All or a portion of the security is held as collateral for options.

(b)	Rate disclosed is the seven day yield as of June 30, 2010.

(c)	Investment in affiliate.

*	Non-income producing security.


ADR		—American Depositary Receipt

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		17

Huntington VA Real Strategies Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2010


Asset Allocation	Percentage of Market Value
Energy	30.0	%
Materials	20.8	%
Cash¹	14.8	%
Industrials	13.5	%
Real Estate Investment Trusts	6.6	%
Exchange Traded Funds	3.7	%
Consumer Staples	3.2	%
Corporate Bonds	2.6	%
Investment Company	2.2	%
Exchange Traded Notes	1.5	%
Utilities	1.1	%
Total	100.0	%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2010


Shares		Value
	Common Stocks — 77.5%
	Consumer Staples — 3.2%
3,800	Cosan Ltd., Class A*	$	35,492
1,700	Tyson Foods, Inc., Class A		27,863

			63,355

	Energy — 30.9%
1,100	Arch Coal, Inc.		21,791
800	Canadian Natural Resources Ltd.		26,584
1,200	Chesapeake Energy Corp.		25,140
1,940	El Paso Corp.		21,553
400	El Paso Pipeline Partners LP		11,468
800	EnCana Corp.		24,272
670	Enterprise Products Partners LP		23,698
710	Exxon Mobil Corp.		40,508
600	Frontier Oil Corp.		8,070
1,300	Hugoton Royalty Trust		24,674
1,100	Linn Energy LLC		29,205
900	Marathon Oil Corp.		27,981
600	National Oilwell Varco, Inc.		19,842
1,275	Natural Resource Partners LP		30,141
690	Newfield Exploration Co.*		33,714
700	Noble Corp.		21,637
600	Peabody Energy Corp.		23,478
700	Petroleo Brasileiro SA ADR		24,024
900	Rowan Cos., Inc.*		19,746
500	Sasol Ltd. ADR		17,635
500	Smith International, Inc.		18,825
1,600	Spectra Energy Corp.		32,112
986	StatoilHydro ASA ADR		18,882
1,500	Tesoro Corp.		17,505
500	Transocean Ltd.*		23,165


Shares		Value
	Energy — (continued)
1,000	Valero Energy Corp.	$	17,980

			603,630

	Industrials — 14.0%
1,100	AGCO Corp.*		29,667
400	Bucyrus International, Inc.		18,980
200	Canadian National Railway Co.		11,476
700	Deere & Co.		38,976
300	Fluor Corp.		12,750
1,100	Foster Wheeler AG*		23,166
1,000	Harsco Corp.		23,500
1,000	KOMATSU Ltd. ADR		18,110
2,400	Manitowoc Co.		21,936
200	POSCO ADR		18,864
800	Rayonier, Inc.		35,216
900	Robbins & Myers, Inc.		19,566

			272,207

	Materials — 21.4%
350	Agrium, Inc.		17,129
400	BHP Billiton Ltd. ADR		24,796
1,200	Cameco Corp.		25,536
300	FMC Corp.		17,229
350	Monsanto Co.		16,177
200	Nucor Corp.		7,656
2,400	Olin Corp.		43,416
270	Potash Corp. of Saskatchewan, Inc.		23,285
300	Praxair, Inc.		22,797
1,200	Rio Tinto PLC ADR		52,320
800	Sociedad Quimica y Minera de Chile SA ADR		26,088
500	Tenaris SA ADR		17,305

See Notes which are an integral part of the Financial Statements.


		18

Huntington VA Real Strategies Fund

Portfolio of Investments (continued)

June 30, 2010


Shares or Principal Amount		Value
	Common Stocks — (continued)
	Materials — (continued)
100	Terra Nitrogen Co., LP	$	6,811
500	The Mosaic Co.		19,490
8,700	Uranium Energy Corp.*		20,532
6,300	USEC, Inc.*		29,988
1,000	Vale SA ADR		24,350
800	Yara International ASA ADR		22,408

			417,313

	Real Estate Investment Trusts — 6.8%
190	Avalonbay Communities, Inc.		17,740
400	Boston Properties, Inc.		28,536
2,000	Duke Realty Corp.		22,700
1,000	Plum Creek Timber Co., Inc.		34,530
403	Vornado Realty Trust		29,399

			132,905

	Utilities — 1.2%
500	Questar Corp.		22,745

	Total Common Stocks (Cost $1,641,501)		1,512,155

	Corporate Bonds — 2.7%
	Financials — 2.7%
$50,000	Credit Suisse Securities (USA) LLC, 0.00%, 3/26/13 (a) (b)		52,840

	Total Corporate Bonds (Cost $50,000)		52,840

	Mutual Funds — 7.6%
	Exchange Traded Funds — 3.8%
300	Oil Service HOLDRs Trust		28,392
1,200	PowerShares DB Agriculture Fund		28,788
500	UltraShort 20+ Year Treasury ProShares		17,740

			74,920


Shares		Value
	Exchange Traded Notes — 1.5%
1,000	iPath Dow Jones-AIG Livestock Total Return Sub-Index*	$	28,940

	Investment Company — 2.3%
3,000	Central Fund of Canada Ltd., Class A		45,210

	Total Mutual Funds (Cost $162,512)		149,070

	Cash Equivalents — 15.2%
296,912	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (c) (d)		296,912

	Total Cash Equivalents (Cost $296,912)		296,912

	Total Investments (Cost $2,150,925) — 103.0%		2,010,977

	Liabilities in Excess of Other Assets — (3.0)%		(59,133	)

	Net Assets — 100.0%	$	1,951,844

(a)	All or a portion of the security is held as collateral for options.

(b)	Zero-Coupon security.

(c)	Investment in affiliate.

(d)	Rate disclosed is the seven day yield as of June 30, 2010.

*	Non-income producing security.


ADR		—American Depositary Receipt
LLC		—Limited Liability Co.
LP		—Limited Partnership
PLC		—Public Liability Co.

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		19

Huntington VA Rotating Markets Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2010


Asset Allocation	Percentage of Market Value
Exchange Traded Funds	91.3	%
Cash¹	8.7	%
Total	100.0	%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2010


Shares		Value
	Mutual Funds — 91.2%
	Exchange Traded Funds — 91.2%
3,000	iShares Cohen & Steers Realty Majors Index Fund	$	164,730
3,200	iShares Dow Jones U.S. Transportation Average Index Fund		231,552
8,900	iShares EAFE Index Fund		413,939
11,100	iShares MSCI Emerging Markets Index Fund		414,252
14,300	iShares MSCI EMU Index Fund		408,265
20,800	PowerShares QQQ		888,368
20,600	Rydex S&P Equal Weight Index Fund		778,680
16,750	S&P Depositary Receipt		1,728,935
7,850	SPDR KBW Insurance		276,791

	Total Mutual Funds (Cost $5,802,276)		5,305,512


Shares		Value
	Cash Equivalents — 8.7%
506,281	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)	$	506,281

	Total Cash Equivalents (Cost $506,281)		506,281

	Total Investments (Cost $6,308,557) — 99.9%		5,811,793

	Other Assets in Excess of Liabilities — 0.1%		3,481

	Net Assets — 100.0%	$	5,815,274

(a)	Rate disclosed is the seven day yield as of June 30, 2010.

(b)	Investment in affiliate.

See Notes which are an integral part of the Financial Statements.


		20

Huntington VA Situs Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2010


Asset Allocation	Percentage of Market Value
Health Care	16.8	%
Industrials	15.9	%
Financials	13.2	%
Technology	12.3	%
Energy	10.1	%
Materials	8.9	%
Consumer Discretionary	7.9	%
Consumer Staples	4.4	%
Telecommunications	3.2	%
Utilities	2.6	%
Cash¹	2.1	%
Real Estate Investment Trusts	1.8	%
Exchange Traded Funds	0.8	%
Total	100.0	%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2010


Shares		Value
	Common Stocks — 96.9%
	Bermuda — 2.2%
	Financials — 2.2%
5,250	Arch Capital Group Ltd.*	$	391,125

	Brazil — 0.2%
	Consumer Discretionary — 0.2%
500	Companhia Brasileira de Distribuicao Grupo Pao de Acucar ADR		34,760

	Cayman Islands — 0.8%
	Consumer Staples — 0.8%
7,100	Fresh Del Monte Produce, Inc.*		143,704

	Chile — 0.2%
	Materials — 0.2%
800	Sociedad Quimica y Minera de Chile SA ADR		26,088

	Finland — 1.2%
	Industrials — 1.2%
2,000	Cargotec Corp., Class B		51,558
4,200	Kone Oyj, Class B		166,980

			218,538

	Germany — 0.7%
	Consumer Staples — 0.3%
1,500	Douglas Holding AG		62,432

	Health Care — 0.4%
1,900	Stada Arzneimittel AG		62,941

			125,373


Shares		Value
	Hong Kong — 0.3%
	Consumer Discretionary — 0.3%
13,000	Television Broadcasts Ltd.	$	60,251

	Ireland — 0.6%
	Consumer Staples — 0.6%
3,500	Kerry Group PLC		96,941

	Japan — 1.0%
	Consumer Discretionary — 0.3%
2,000	Honda Motor Co. Ltd. ADR		57,500

	Industrials — 0.3%
3,500	Sato Corp.		41,935

	Technology — 0.4%
14,800	Furuno Electric Co. Ltd.		71,925

			171,360

	Sweden — 0.2%
	Consumer Discretionary — 0.2%
4,800	Haldex AB*		40,797

	United Kingdom — 0.6%
	Technology — 0.6%
26,003	Halma PLC		105,663

	United States — 88.9%
	Consumer Discretionary — 6.7%
10,000	Cabela’s, Inc., Class A*		141,400
3,000	Ennis, Inc.		45,030
3,000	Jakks Pacific, Inc.*		43,140
500	Polo Ralph Lauren Corp.		36,480
10,000	Quanta Services, Inc.*		206,500
2,000	Rent-A-Center, Inc.*		40,520

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		21

Huntington VA Situs Fund

Portfolio of Investments (continued)

June 30, 2010


Shares		Value
	Common Stocks — (continued)
	United States — (continued)
	Consumer Discretionary — (continued)
3,000	ScanSource, Inc.*	$	74,790
22,000	Southwest Airlines Co.		244,420
1,000	Speedway Motorsports, Inc.		13,560
10,000	Urban Outfitters, Inc.*		343,900

			1,189,740

	Consumer Staples — 2.7%
10,000	Owens-Illinois, Inc.*		264,500
1,000	Sanderson Farms, Inc.		50,740
20,000	Sonic Corp.*		155,000

			470,240

	Energy — 10.1%
6,000	Alliance Resource Partners LP		269,820
4,000	Atwood Oceanics, Inc.*		102,080
7,000	Carbo Ceramics, Inc.		505,330
7,800	Denbury Resources, Inc.*		114,192
500	Dril-Quip, Inc.*		22,010
1,744	Helix Energy Solutions Group, Inc.*		18,783
10,000	Lufkin Industries, Inc.		389,900
1,000	Newfield Exploration Co.*		48,860
3,000	Oceaneering International, Inc.*		134,700
2,000	Rowan Cos., Inc.*		43,880
2,500	SM Energy Co.		100,400
3,000	TETRA Technologies, Inc.*		27,240

			1,777,195

	Financials — 10.9%
8,000	BB&T Corp.		210,480
12,000	Cullen/Frost Bankers, Inc.		616,800
15,000	Protective Life Corp.		320,850
25,000	Raymond James Financial, Inc.		617,250
3,000	SCBT Financial Corp.		105,660
1,500	WSFS Financial Corp.		53,895

			1,924,935

	Health Care — 16.5%
20,000	Albany Molecular Research*		103,400
650	Bio-Rad Laboratories, Inc., Class A*		56,218
8,500	Cerner Corp.*		645,065
12,000	Edwards LifeSciences Corp.*		672,240
3,000	Kindred Healthcare, Inc.*		38,520
13,000	Kinetic Concepts, Inc.*		474,630
18,000	Lincare Holdings, Inc.*		585,180
7,000	Osiris Therapeutics, Inc.*		40,670
1	PharMerica Corp.*		15
4,000	ViroPharma, Inc.*		44,840
6,000	Watson Pharmaceutical, Inc.*		243,420

			2,904,198

	Industrials — 14.4%
3,500	Alliant Techsystems, Inc.*		217,210
15,000	BE Aerospace, Inc.*		381,450
12,000	EnPro Industries, Inc.*		337,800
3,000	Exlservice Holdings, Inc.*		51,510
5,500	Flowserve Corp.		466,400


Shares		Value
	Industrials — (continued)
8,000	Harsco Corp.	$	188,000
10,000	Jacobs Engineering Group, Inc.* (a)		364,400
3,000	Quaker Chemical Corp.		81,270
1,000	Ryder System, Inc.		40,230
20,000	Trinity Industries, Inc.		354,400
2,000	Watts Water Technologies, Inc., Class A		57,320

			2,539,990

	Materials — 8.8%
5,000	Albemarle Corp.		198,550
1,048	CF Industries Holdings, Inc.		66,496
3,000	Commercial Metals Co.		39,660
1,000	Deckers Outdoor Corp.*		142,870
1,500	Eagle Materials, Inc.		38,895
3,000	Eastman Chemical Co.		160,080
4,000	RTI International Metals, Inc.*		96,440
5,000	Texas Industries, Inc.		147,700
2,400	The Scotts Co.		106,584
19,000	Trimble Navigation Ltd.*		532,000
500	United States Lime & Minerals, Inc.*		19,260
31	Vulcan Materials Co.		1,359

			1,549,894

	Real Estate Investment Trusts — 1.8%
3,500	Camden Property Trust		142,975
1,064	CBL & Associates Properties, Inc.		13,236
8,500	Equity One, Inc.		132,600
2,000	Weingarten Realty Investors		38,100

			326,911

	Technology — 11.2%
8,000	ACI Worldwide, Inc.*		155,760
1,000	American Superconductor Corp.*		26,690
11,000	Anixter International, Inc.*		468,600
4,000	Black Box Corp.		111,560
3,000	Hutchinson Technology, Inc.*		12,990
6,000	Imation Corp.*		55,140
25,000	Jabil Circuit, Inc.		332,500
1,000	OYO Geospace Corp.*		48,480
16,600	Red Hat, Inc.*		480,404
6,000	Sigma Designs, Inc.*		60,060
10,000	Standard Microsystems Corp.*		232,800

			1,984,984

	Telecommunications — 3.2%
20,000	CommScope, Inc.*		475,400
12,300	General Communication, Inc., Class A*		93,357

			568,757

	Utilities — 2.6%
1,000	AGL Resources, Inc.		35,820
5,000	Hawaiian Electric Industries, Inc.		113,900
6,000	Portland General Electric Co.		109,980
7,500	UGI Corp.		190,800
			450,500

			15,687,344

	Total Common Stocks (Cost $18,240,046)		17,101,944

See Notes which are an integral part of the Financial Statements.


		22

Huntington VA Situs Fund

Portfolio of Investments (continued)

June 30, 2010


Shares		Value
	Mutual Funds — 0.8%
	Exchange Traded Funds — 0.8%
3,500	iShares FTSE/Xinhua China 25 Index Fund	$	136,955

	Total Mutual Funds (Cost $89,145)		136,955

	Cash Equivalents — 2.1%
362,821	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)		362,821

	Total Cash Equivalents (Cost $362,821)		362,821

	Total Investments (Cost $18,692,012) — 99.8%		17,601,720

	Other Assets in Excess of Liabilities — 0.2%		41,156

	Net Assets — 100.0%	$	17,642,876

(a)	All or a portion of the security is held as collateral for options.

(b)	Rate disclosed is the seven day yield as of June 30, 2010.

(c)	Investment in affiliate.

*	Non-income producing security.


ADR		—American Depositary Receipt
LP		—Limited Partnership
PLC		—Public Liability Co

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		23

Huntington VA Mortgage Securities Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2010


Asset Allocation	Percentage of Market Value
U.S. Government Mortgage Backed Agencies	57.6	%
Collateralized Mortgage Obligations	14.9	%
U.S. Government Agencies	14.8	%
Real Estate Investment Trusts	9.0	%
Cash¹	3.7	%
Total	100.0	%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2010


Shares		Value
	Common Stocks — 9.0%
	Real Estate Investment Trusts — 9.0%
1,553	Acadia Realty Trust	$	26,121
900	Alexandria Real Estate Equities, Inc.		57,033
500	AMB Property Corp.		11,855
600	American Campus Communities, Inc.		16,374
500	Associated Estates Realty Corp.		6,475
700	BioMed Realty Trust, Inc.		11,263
600	Boston Properties, Inc.		42,804
1,000	Cogdell Spencer, Inc.		6,760
700	Corporate Office Properties Trust		26,432
100	Developers Diversified Realty Corp.		990
1,200	Digital Reality Trust, Inc.		69,216
2,000	Douglas Emmett, Inc.		28,440
2,300	Duke Realty Corp.		26,105
600	DuPont Fabros Technology, Inc.		14,736
1,300	EastGroup Properties, Inc.		46,254
1,000	Equity Lifestyle Properties, Inc.		48,230
1,100	Equity Residential		45,804
600	Essex Property Trust, Inc.		58,524
1,000	Excel Trust, Inc.*		12,000
300	Federal Realty Investment Trust		21,081
700	HCP, Inc.		22,575
800	Home Properties, Inc.		36,056
2,014	Host Hotels & Resorts, Inc.		27,149
700	Kilroy Realty Corp.		20,811
1,100	Kimco Realty Corp.		14,784
1,500	Kite Realty Group Trust		6,270
2,100	LaSalle Hotel Properties		43,197
1,100	Mack-Cali Realty Corp.		32,703
400	National Retail Properties, Inc.		8,576
500	Nationwide Health Properties, Inc.		17,885
300	Pennsylvania Real Estate Investment Trust		3,666
100	Post Properties, Inc.		2,273
700	ProLogis Trust		7,091
700	Public Storage, Inc.		61,537
500	Regency Centers Corp.		17,200


Shares or Principal Amount		Value
	Real Estate Investment Trusts — (continued)
674	Simon Property Group, Inc.	$	54,426
400	SL Green Realty Corp.		22,016
200	Sovran Self Storage, Inc.		6,886
900	Tanger Factory Outlet Centers, Inc.		37,242
300	Terreno Realty Corp.*		5,313
1,213	The Macerich Co.		45,269
816	UDR, Inc.		15,610
1,600	Ventas, Inc.		75,120
716	Vornado Realty Trust		52,232
900	Weingarten Realty Investors		17,145
200	Westfield Group		2,035

	Total Common Stocks (Cost $1,252,676)		1,231,564

	U.S. Government Mortgage Backed Agencies — 57.5%
	Federal Home Loan Mortgage Corporation — 19.6%
$ 33,465	Pool # M80982, 5.000%, 7/1/12		34,430
28,493	Pool # M81004, 5.000%, 1/1/13		29,314
16,027	Pool # B18052, 4.500%, 3/1/15		16,606
32,371	Pool # J03237, 5.500%, 8/1/16		35,095
19,767	Pool # E96459, 5.000%, 5/1/18		21,245
169,701	Pool # J10396, 4.000%, 7/1/19		179,270
18,357	Pool # G18008, 4.500%, 9/1/19		19,569
9,663	Pool # G18015, 4.500%, 10/1/19		10,301
88,569	Pool # G12286, 5.000%, 7/1/21		94,831
66,362	Pool # G12297, 6.000%, 7/1/21		72,322
80,221	Pool # G12425, 5.500%, 10/1/21		86,821
108,812	Pool # E02402, 6.000%, 10/1/22		118,312
51,702	Pool # C90779, 5.000%, 1/1/24		54,823
17,007	Pool # C90837, 5.500%, 6/1/24		18,401
217,820	Pool # G13629, 4.500%, 8/1/24		230,028
229,607	Pool # J11053, 4.500%, 10/1/24		242,475
292,358	Pool # J11829, 4.000%, 3/1/25		304,092

See Notes which are an integral part of the Financial Statements.


		24

Huntington VA Mortgage Securities Fund

Portfolio of Investments (continued)

June 30, 2010


Principal Amount		Value
	U.S. Government Mortgage Backed Agencies — (continued)
	Federal Home Loan Mortgage Corporation — (continued)
$ 41,370	Pool # C91000, 6.000%, 11/1/26	$	45,226
181,166	Pool # C91175, 5.000%, 5/1/28		192,557
234,748	Pool # C91251, 4.500%, 6/1/29		246,083
297,640	Pool # C91296, 5.000%, 4/1/30		316,532
44,122	Pool # 1G0865, 4.879%, 7/1/35 (a)		46,436
118,573	Pool # A55565, 6.000%, 12/1/36		129,011
137,868	Pool # G03498, 5.500%, 11/1/37		148,144

			2,691,924

	Federal National Mortgage Association — 30.2%
15,736	Pool # 254955, 4.000%, 10/1/10		15,797
11,914	Pool # 255224, 4.000%, 5/1/11		12,067
41,429	Pool # 254717, 4.500%, 4/1/13		42,442
29,247	Pool # 254914, 4.500%, 9/1/13		30,048
160,162	Pool # 786729, 5.500%, 8/1/19		174,014
104,088	Pool # 254501, 5.500%, 9/1/22		112,790
201,496	Pool # 889255, 5.000%, 3/1/23		215,333
17,257	Pool # 254908, 5.000%, 9/1/23		18,431
10,408	Pool # 255360, 5.000%, 8/1/24		11,108
190,192	Pool # 935763, 4.000%, 11/1/24		198,152
584,252	Pool # 932438, 4.000%, 1/1/25		608,706
290,184	Pool # AC9607, 4.000%, 1/1/25		302,058
41,815	Pool # 255711, 5.500%, 4/1/25		45,177
43,110	Pool # 357771, 5.000%, 5/1/25		45,954
39,265	Pool # 255745, 5.500%, 5/1/25		42,533
169,179	Pool # 255834, 4.500%, 6/1/25		178,785
39,940	Pool # 255767, 5.500%, 6/1/25		43,152
32,553	Pool # 255808, 5.000%, 7/1/25		34,897
119,642	Pool # 255984, 4.500%, 11/1/25		126,435
38,805	Pool # 256116, 6.000%, 2/1/26		42,448
195,491	Pool # 257163, 5.000%, 4/1/28		207,927
144,341	Pool # 257238, 5.000%, 6/1/28		153,522
235,303	Pool # MA0115, 4.500%, 7/1/29		244,688
237,167	Pool # AC1219, 4.500%, 8/1/29		248,587
190,769	Pool # MA0171, 4.500%, 9/1/29		199,954
19,709	Pool # 721540, 5.000%, 7/1/33		20,963
105,685	Pool # 746683, 5.500%, 10/1/33		113,998
29,711	Pool # 786457, 5.235%, 7/1/34 (a)		31,720
21,718	Pool # 845573, 5.429%, 2/1/36 (a)		23,181
148,803	Pool # 745511, 5.000%, 4/1/36		157,738
144,823	Pool # 831487, 5.500%, 4/1/36		155,716
135,436	Pool # 868935, 5.500%, 5/1/36		145,624
97,778	Pool # 903812, 5.500%, 12/1/36		105,133
43,645	Pool # 907484, 6.000%, 1/1/37		47,425

			4,156,503

	Government National Mortgage Association — 7.7%
15,601	Pool # 3590, 5.500%, 8/20/19		16,896
40,698	Pool # 3708, 5.500%, 5/20/20		44,043
47,245	Pool # 3741, 4.500%, 8/20/20		50,253
42,489	Pool # 683937, 6.000%, 2/15/23		46,210


Principal Amount		Value
	Government National Mortgage Association — (continued)
$153,060	Pool # 666057, 5.000%, 3/15/23	$	164,484
10,851	Pool # 3571, 6.500%, 6/20/34		12,050
157,418	Pool # 605653, 5.500%, 8/15/34		171,109
9,536	Pool # 3637, 5.500%, 11/20/34		10,376
36,847	Pool # 3710, 5.000%, 5/20/35		39,478
38,336	Pool # 650348, 5.500%, 11/15/35		41,640
179,428	Pool # 676974, 5.500%, 5/15/38		194,220
249,313	Pool # 733602, 5.000%, 4/15/40		266,305

			1,057,064

	Total U.S. Government Mortgage Backed Agencies (Cost $7,579,259)		7,905,491

	Collateralized Mortgage Obligations — 14.9%
	Citicorp Mortgage Securities, Inc. — 0.6%
86,703	5.500%, 10/25/35		81,355

	Federal Home Loan Bank — 2.7%
134,136	Series 00-0606, Class Y, 5.270%, 12/28/12		143,692
41,699	Series 6B-2012, Class 1, 5.125%, 4/25/12		44,292
97,573	Series 7I-2012, Class A, 5.000%, 6/15/12		103,432
44,187	Series SK-2015, Class 1, 5.140%, 8/18/15		48,088
29,054	Series Z2-2013, Class A, 4.800%, 2/25/13		30,934

			370,438

	Federal Home Loan Mortgage Corporation — 7.2%
243,076	Series 2541, Class VL, 5.500%, 11/15/20		256,995
137,139	Series 2542, Class DH, 5.500%, 2/15/22		144,134
19,757	Series 2649, Class OL, 4.500%, 4/15/26		19,832
50,000	Series 2672, Class GH, 5.500%, 8/15/31		53,216
60,296	Series 2770, Class TC, 4.000%, 1/15/18		62,459
200,000	Series 2784, Class HJ, 4.000%, 4/15/19		209,442
6,912	Series 3046, Class YA, 5.000%, 2/15/19		6,901
72,402	Series R005, Class AB, 5.500%, 12/15/18		74,912
30,992	Series R007, Class AC, 5.875%, 5/15/16		31,480
133,061	Series R010, Class AB, 5.500%, 12/15/19		138,936

			998,307

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		25

Huntington VA Mortgage Securities Fund

Portfolio of Investments (continued)

June 30, 2010


Principal Amount		Value
	Collateralized Mortgage Obligations — (continued)
	Federal National Mortgage Association — 1.0%
$ 49,786	Series 1999-13, Class PH, 6.000%, 4/25/29	$	55,661
75,686	Series 2002-62, Class VK, 5.500%, 12/25/16		76,882

			132,543

	Government National Mortgage Association — 3.4%
200,000	Series 2005-55, Class PD, 5.000%, 5/20/32		213,136
250,000	Series 2008-87, Class BG, 5.500%, 4/20/36		252,561

			465,697

	Total Collateralized Mortgage Obligations (Cost $1,975,518)		2,048,340

	U.S. Government Agencies — 14.8%
	Federal Farm Credit Bank — 5.5%
250,000	2.125%, 6/18/12		256,862
500,000	3.650%, 12/28/18		500,822

			757,684

	Federal Home Loan Bank — 1.9%
250,000	4.125%, 12/13/19		262,322


Principal Amount		Value
	Federal Home Loan Mortgage Corp. — 3.7%
$500,000	2.400%, 3/25/14	$	508,107

	Federal National Mortgage Association — 3.7%
500,000	1.500%, 9/25/12		503,220

	Total U.S. Government Agencies (Cost $2,000,765)		2,031,333

	Cash Equivalents — 3.7%
503,877	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)		503,877

	Total Cash Equivalents (Cost $503,877)		503,877

	Total Investments (Cost $13,312,095) — 99.9%		13,720,605

	Other Assets in Excess of Liabilities — 0.1%		18,975

	Net Assets — 100.0%	$	13,739,580

(a)	Variable or Floating Rate Security. Rate disclosed is as of June 30, 2010.

(b)	Investment in affiliate.

(c)	Rate disclosed is the seven day yield as of June 30, 2010.

*	Non-income producing security.

See Notes which are an integral part of the Financial Statements.


		26

Huntington Funds

Statements of Assets and Liabilities (Unaudited)

June 30, 2010


	Huntington VA Balanced Fund			Huntington VA Dividend Capture Fund			Huntington VA Growth Fund			Huntington VA Income Equity Fund
Assets:
Investments, at cost	$	17,143,547		$	29,546,028		$	14,885,111		$	18,978,016

Investments, at value		—			29,779,319			14,453,075			18,570,845
Investments in affiliated securities, at value		16,917,103			201,381			56,505			319,828

Total investments		16,917,103			29,980,700			14,509,580			18,890,673
Income receivable		13,031			69,068			10,049			54,633
Receivable for investments sold		—			194,072			112,882			—
Receivable for shares sold		60,423			38,720			132,098			22,192
Receivable from Advisor		3,386			—			—			—
Prepaid expenses and other assets		7,489			955			1,804			872

Total assets		17,001,432			30,283,515			14,766,413			18,968,370
Liabilities:
Options written, at value (premium received $-, $-, $- and $27,231)		—			—			—			5,405
Cash overdraft		66,670			—			—			—
Payable for investments purchased		—			137,986			50,443			—
Payable for shares redeemed		—			35,680			13,824			11,628
Accrued expenses and other payables
Investment advisor fees		—			15,396			7,572			9,769
Administration fees		2,454			4,623			2,275			2,933
Custodian fees		146			2,056			566			961
Financial administration fees		422			1,008			650			664
Transfer agent fees		1,141			2,503			1,169			1,604
Trustees’ fees		123			622			172			293
Compliance service fees		91			462			128			218
Other		—			4,367			—			470

Total liabilities		71,047			204,703			76,799			33,945

Net Assets	$	16,930,385		$	30,078,812		$	14,689,614		$	18,934,425

Net Assets Consist of:
Paid in capital	$	17,129,531		$	43,204,402		$	18,402,280		$	26,062,014
Net unrealized appreciation (depreciation) of investments and options transactions		(226,444	)		434,672			(375,531	)		(65,517	)
Accumulated net realized loss on investments and options transactions		(55,506	)		(15,585,043	)		(3,360,897	)		(7,955,697	)
Accumulated net investment income		82,804			2,024,781			23,762			893,625

Total Net Assets	$	16,930,385		$	30,078,812		$	14,689,614		$	18,934,425

Shares Outstanding		1,439,159			3,443,313			2,277,042			2,532,419

Net Asset Value, Redemption Price and Offering Price Per Share:
(Net asset value, offering and redemption price per share)	$	11.76		$	8.74		$	6.45		$	7.48

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		27

Huntington Funds

Statements of Assets and Liabilities (Unaudited)

June 30, 2010


	Huntington VA International Equity Fund			Huntington VA Macro 100 Fund			Huntington VA Mid Corp America Fund			Huntington VA New Economy Fund
Assets:
Investments, at cost	$	18,368,104		$	5,663,522		$	13,218,025		$	11,289,530

Investments, at value		16,409,119			5,016,390			16,345,573			10,380,633
Investments in affiliated securities, at value		1,100,869			266,528			644,589			451,451

Total investments		17,509,988			5,282,918			16,990,162			10,832,084
Foreign currencies, at value (Cost $9,165, $-, $- and $-)		9,183			—			—			—
Income receivable		36,232			6,834			16,127			2,886
Receivable for shares sold		44,258			9,204			18,841			14,635
Tax reclaims receivable		10,538			—			—			—
Prepaid expenses and other assets		831			3,444			962			2,408

Total assets		17,611,030			5,302,400			17,026,092			10,852,013
Liabilities:
Options written, at value (premium received $-, $-, $- and $294,955)		—			—			—			213,145
Payable for investments purchased		8,093			—			—			—
Payable for shares redeemed		10,648			14,155			14,576			18,216
Accrued expenses and other payables
Investment advisor fees		8,815			2,734			8,942			5,524
Administration fees		2,444			822			2,685			1,658
Custodian fees		225			91			798			387
Financial administration fees		178			260			835			524
Transfer agent fees		269			427			1,427			994
Trustees’ fees		43			28			245			119
Compliance service fees		32			21			182			88
Other		501			—			—			—

Total liabilities		31,248			18,538			29,690			240,655

Net Assets	$	17,579,782		$	5,283,862		$	16,996,402		$	10,611,358

Net Assets Consist of:
Paid in capital	$	20,947,078		$	8,220,320		$	14,249,203		$	14,983,794
Net unrealized appreciation (depreciation) of investments, options and translations of assets and liabilities in foreign currency		(858,245	)		(380,604	)		3,772,137			(375,636	)
Accumulated net realized loss on investments, options and foreign currency transactions		(2,907,039	)		(2,623,436	)		(1,184,697	)		(3,992,852	)
Accumulated net investment income (loss)		397,988			67,582			159,759			(3,948	)

Total Net Assets	$	17,579,782		$	5,283,862		$	16,996,402		$	10,611,358

Shares Outstanding		1,486,843			696,825			1,198,711			1,018,605

Net Asset Value, Redemption Price and Offering Price Per Share:
(Net asset value, offering and redemption price per share)	$	11.82		$	7.58		$	14.18		$	10.42

See Notes which are an integral part of the Financial Statements.


		28

Huntington Funds

Statements of Assets and Liabilities (Unaudited)

June 30, 2010


	Huntington VA Real Strategies Fund			Huntington VA Rotating Markets Fund			Huntington VA Situs Fund			Huntington VA Mortgage Securities Fund
Assets:
Investments, at cost	$	2,150,925		$	6,308,557		$	18,692,012		$	13,312,095

Investments, at value		1,714,065			5,305,512			17,238,899			13,216,728
Investments in affiliated securities, at value		296,912			506,281			362,821			503,877

Total investments		2,010,977			5,811,793			17,601,720			13,720,605
Income receivable		1,653			13,912			12,788			47,172
Receivable for shares sold		3,695			207			51,515			14,687
Tax reclaims receivable		6			—			630			—
Prepaid expenses and other assets		5,637			3,251			882			2,818

Total assets		2,021,968			5,829,163			17,667,535			13,785,282
Liabilities:
Options written, at value (premium received $35,469, $-, $39,699 and $-)		61,363			—			3,000			—
Payable for investments purchased		—			—			—			4,303
Payable for shares redeemed		7,154			8,809			6,030			30,322
Accrued expenses and other payables
Investment advisor fees		986			3,076			9,085			6,766
Administration fees		—			923			2,733			2,037
Custodian fees		20			143			924			272
Financial administration fees		229			251			934			1,171
Transfer agent fees		361			610			1,512			686
Trustees’ fees		6			44			253			83
Compliance service fees		5			33			188			62
Other		—			—			—			—

Total liabilities		70,124			13,889			24,659			45,702

Net Assets	$	1,951,844		$	5,815,274		$	17,642,876		$	13,739,580

Net Assets Consist of:
Paid in capital	$	2,157,304		$	7,053,048		$	20,583,171		$	13,036,170
Net unrealized appreciation (depreciation) of investments, options and translations of assets and liabilities in foreign currency		(165,842	)		(496,764	)		(1,053,635	)		408,510
Accumulated net realized loss on investments, options and foreign currency transactions		(43,989	)		(821,215	)		(1,987,401	)		(193,341	)
Accumulated net investment income		4,371			80,205			100,741			488,241

Total Net Assets	$	1,951,844		$	5,815,274		$	17,642,876		$	13,739,580

Shares Outstanding		276,547			615,564			1,536,474			1,187,179

Net Asset Value, Redemption Price and Offering Price Per Share:
(Net asset value, offering and redemption price per share)	$	7.06		$	9.45		$	11.48		$	11.57

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		29

Huntington Funds

Statements of Operations (Unaudited)

Six Months Ended June 30, 2010


	Huntington VA Balanced Fund			Huntington VA Dividend Capture Fund			Huntington VA Growth Fund			Huntington VA Income Equity Fund
Investment Income:
Dividend income	$	—		$	792,393		$	76,161		$	420,767
Dividend income from affiliated securities		67,487			19			102			20
Interest income		9			—			12			—

Total investment income		67,496			792,412			76,275			420,787

Expenses:
Investment advisor fees		5,934			99,628			46,214			61,773
Administration fees		10,812			30,254			14,034			18,758
Custodian fees		413			4,421			1,963			2,721
Transfer and dividend disbursing agent fees and expenses		3,390			6,421			4,575			5,215
Trustees’ fees		374			1,642			727			1,017
Auditing fees		944			3,823			1,701			2,363
Legal fees		117			1,165			513			714
Financial administration fees		1,266			2,484			2,530			2,129
Printing and postage		1,274			5,157			2,295			3,188
Insurance premiums		1,187			1,862			1,638			1,698
Compliance service fees		163			660			294			408
Other		281			1,156			514			714

Total expenses		26,155			158,673			76,998			100,698

Reimbursements from Advisor		(20,219	)		—			—			—

Net expenses		5,936			158,673			76,998			100,698

Net investment income (loss)		61,560			633,739			(723	)		320,089

Net Realized/Unrealized Gain (Loss) on Investments and Options Transactions
Net realized gain (loss) on investment transactions		—			(191,309	)		857,550			300,569
Net realized loss on investment transactions of affiliates		(44,453	)		—			—			—
Net realized gain (loss) on option transactions		—			—			9,709			(11,835	)

Net realized gain (loss) on investments and options		(44,453	)		(191,309	)		867,259			288,734

Net change in unrealized appreciation/depreciation of investments and options		(548,324	)		(868,915	)		(2,389,835	)		(1,935,830	)

Net realized and unrealized gain (loss) on investments and options transactions		(592,777	)		(1,060,224	)		(1,522,576	)		(1,647,096	)

Change in net assets resulting from operations	$	(531,217	)	$	(426,485	)	$	(1,523,299	)	$	(1,327,007	)

See Notes which are an integral part of the Financial Statements.


		30

Huntington Funds

Statements of Operations (Unaudited)

Six Months Ended June 30, 2010


	Huntington VA International Equity Fund			Huntington VA Macro 100 Fund			Huntington VA Mid Corp America Fund			Huntington VA New Economy Fund
Investment Income:
Dividend income	$	267,527		$	50,158		$	129,698		$	43,994
Dividend income from affiliated securities		79			17			32			48
Foreign dividend taxes withheld		(15,786	)		—			—			—

Total investment income		251,820			50,175			129,730			44,042

Expenses:
Investment advisor fees		51,849			17,222			56,554			34,935
Administration fees		15,745			5,230			17,174			10,609
Custodian fees		3,692			708			2,481			1,510
Transfer and dividend disbursing agent fees and expenses		4,616			3,578			5,056			4,305
Trustees’ fees		786			263			927			562
Auditing fees		1,847			619			2,163			1,319
Legal fees		490			178			660			394
Financial administration fees		3,129			2,305			2,972			2,321
Printing and postage		2,492			835			2,918			1,780
Insurance premiums		1,619			1,505			1,682			1,586
Compliance service fees		319			107			373			228
Other		556			187			654			398

Total expenses		87,140			32,737			93,614			59,947

Net investment income (loss)		164,680			17,438			36,116			(15,905	)

Net Realized/Unrealized Gain (Loss) on Investments, Options and Foreign Currency Transactions:
Net realized gain (loss) on investment transactions		(542,451	)		(266,989	)		639,535			(121	)
Net realized loss on option transactions		—			—			—			(6,812	)
Net realized loss on foreign currency transactions		(9,173	)		—			—			—

Net realized gain (loss) on investments, options and translation of assets and liabilities in foreign currency transactions		(551,624	)		(266,989	)		639,535			(6,933	)

Net change in unrealized appreciation/depreciation of investments, options and translation of assets and liabilities in foreign currency		(1,920,858	)		(38,769	)		(961,531	)		(501,588	)

Net realized and unrealized gain (loss) on investments, options and foreign currency transactions		(2,472,482	)		(305,758	)		(321,996	)		(508,521	)

Change in net assets resulting from operations	$	(2,307,802	)	$	(288,320	)	$	(285,880	)	$	(524,426	)

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		31

Huntington Funds

Statements of Operations (Unaudited)

Six Months Ended June 30, 2010


	Huntington VA Real Strategies Fund			Huntington VA Rotating Markets Fund			Huntington VA Situs Fund			Huntington VA Mortgage Securities Fund
Investment Income:
Dividend income	$	12,852		$	41,850		$	88,481		$	18,789
Dividend income from affiliated securities		14			25			49			39
Interest income		11			—			—			221,164

Total investment income		12,877			41,875			88,530			239,992

Expenses:
Investment advisor fees		4,757			19,341			55,101			37,495
Administration fees		1,444			5,873			16,732			11,386
Custodian fees		157			810			2,592			1,479
Transfer and dividend disbursing agent fees and expenses		2,817			3,718			4,780			4,114
Trustees’ fees		55			304			849			540
Auditing fees		135			708			2,003			1,278
Legal fees		24			212			544			366
Financial administration fees		1,922			1,580			2,958			7,299
Printing and postage		182			955			2,703			1,724
Insurance premiums		1,512			1,510			1,655			1,560
Compliance service fees		23			122			346			221
Other		41			213			604			385

Total expenses		13,069			35,346			90,867			67,847

Net investment income (loss)		(192	)		6,529			(2,337	)		172,145

Net Realized/Unrealized Gain (Loss) on Investments, Options and Foreign Currency Transactions:
Net realized gain on investment transactions		9,990			552,420			43,315			64
Net realized gain on option transactions		16,405			—			50,984			—
Net realized gain (loss) on foreign currency transactions		—			—			(76	)		—

Net realized gain on investments, options and translation of assets and liabilities in foreign currency transactions		26,395			552,420			94,223			64

Net change in unrealized appreciation/depreciation of investments, options and translation of assets and liabilities in foreign currency		(212,164	)		(1,213,652	)		(388,940	)		222,851

Net realized and unrealized gain (loss) on investments, options and foreign currency transactions		(185,769	)		(661,232	)		(294,717	)		222,915

Change in net assets resulting from operations	$	(185,961	)	$	(654,703	)	$	(297,054	)	$	395,060

See Notes which are an integral part of the Financial Statements.


		32

Huntington Funds

Statements of Changes in Net Assets


	Huntington VA Balanced Fund						Huntington VA Dividend Capture Fund
	Six Months Ended June 30, 2010			Year Ended December 31, 2009			Six Months Ended June 30, 2010			Year Ended December 31, 2009
	(Unaudited)						(Unaudited)
Increase (Decrease) in Net Assets Operations:
Net investment income	$	61,560		$	21,195		$	633,739		$	1,392,842
Net realized loss on investments		(44,453	)		(10,253	)		(191,309	)		(5,970,182	)
Net change in unrealized appreciation/depreciation of investments		(548,324	)		318,978			(868,915	)		11,316,225

Change in net assets resulting from operations		(531,217	)		329,920			(426,485	)		6,738,885

Distributions to Shareholders:
From net investment income		—			(3,995	)		—			—

Change in net assets resulting from distributions to shareholders		—			(3,995	)		—			—

Change in net assets resulting from capital transactions		10,651,635			6,249,589			(3,051,609	)		(2,514,401	)

Change in net assets		10,120,418			6,575,514			(3,478,094	)		4,224,484
Net Assets:
Beginning of period		6,809,967			234,453			33,556,906			29,332,422

End of period	$	16,930,385		$	6,809,967		$	30,078,812		$	33,556,906

Accumulated net investment income included in net assets at end of period	$	82,804		$	21,244		$	2,024,781		$	1,391,042

Capital Transactions:
Shares sold	$	10,948,461		$	6,317,200		$	2,524,000		$	3,249,303
Dividends reinvested		—			3,995			—			—
Shares redeemed		(296,826	)		(71,606	)		(5,575,609	)		(5,763,704	)

Net change resulting from capital transactions	$	10,651,635		$	6,249,589		$	(3,051,609	)	$	(2,514,401	)

Share Transactions:
Issued		897,622			549,741			274,083			435,553
Reinvested		—			382			—			—
Redeemed		(24,929	)		(6,505	)		(612,668	)		(790,255	)

Net change resulting from share transactions		872,693			543,618			(338,585	)		(354,702	)

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		33

Huntington Funds

Statements of Changes in Net Assets


	Huntington VA Growth Fund						Huntington VA Income Equity Fund
	Six Months Ended June 30, 2010			Year Ended December 31, 2009			Six Months Ended June 30, 2010			Year Ended December 31, 2009
	(Unaudited)						(Unaudited)
Increase (Decrease) in Net Assets Operations:
Net investment income (loss)	$	(723	)	$	24,485		$	320,089		$	580,270
Net realized gain (loss) on investments and options		867,259			(1,286,523	)		288,734			(3,594,616	)
Net change in unrealized appreciation/depreciation of investments		(2,389,835	)		3,284,431			(1,935,830	)		6,686,497

Change in net assets resulting from operations		(1,523,299	)		2,022,393			(1,327,007	)		3,672,151

Change in net assets resulting from capital transactions		940,468			589,176			(442,370	)		(1,154,899	)

Change in net assets		(582,831	)		2,611,569			(1,769,377	)		2,517,252
Net Assets:
Beginning of period		15,272,445			12,660,876			20,703,802			18,186,550

End of period	$	14,689,614		$	15,272,445		$	18,934,425		$	20,703,802

Accumulated net investment income included in net assets at end of period	$	23,762		$	24,485		$	893,625		$	573,536

Capital Transactions:
Shares sold	$	3,066,500		$	2,339,196		$	2,242,998		$	2,014,927
Shares redeemed		(2,126,032	)		(1,750,020	)		(2,685,368	)		(3,169,826	)

Net change resulting from capital transactions	$	940,468		$	589,176		$	(442,370	)	$	(1,154,899	)

Share Transactions:
Issued		438,643			361,601			277,679			301,495
Redeemed		(305,956	)		(279,685	)		(335,402	)		(477,683	)

Net change resulting from share transactions		132,687			81,916			(57,723	)		(176,188	)

See Notes which are an integral part of the Financial Statements.


		34

Huntington Funds

Statements of Changes in Net Assets


	Huntington VA International Equity Fund						Huntington VA Macro 100 Fund
	Six Months Ended June 30, 2010			Year Ended December 31, 2009			Six Months Ended June 30, 2010			Year Ended December 31, 2009
	(Unaudited)						(Unaudited)
Increase (Decrease) in Net Assets Operations:
Net investment income	$	164,680		$	267,976		$	17,438		$	50,144
Net realized loss on investments and foreign currency transactions		(551,624	)		(1,903,030	)		(266,989	)		(423,626	)
Net change in unrealized appreciation/depreciation of investments and foreign currency transactions		(1,920,858	)		5,359,892			(38,769	)		1,334,086

Change in net assets resulting from operations		(2,307,802	)		3,724,838			(288,320	)		960,604

Distributions to Shareholders:
From net investment income		—			(6,126	)		—			—

Change in net assets resulting from distributions to shareholders		—			(6,126	)		—			—

Change in net assets resulting from capital transactions		3,525,654			2,659,779			(17,528	)		164,896

Change in net assets		1,217,852			6,378,491			(305,848	)		1,125,500
Net Assets:
Beginning of period		16,361,930			9,983,439			5,589,710			4,464,210

End of period	$	17,579,782		$	16,361,930		$	5,283,862		$	5,589,710

Accumulated net investment income included in net assets at end of period	$	397,988		$	233,308		$	67,582		$	50,144

Capital Transactions:
Shares sold	$	4,790,957		$	4,473,348		$	1,017,763		$	883,733
Dividends reinvested		—			6,126			—			—
Shares redeemed		(1,265,303	)		(1,819,695	)		(1,035,291	)		(718,837	)

Net change resulting from capital transactions	$	3,525,654		$	2,659,779		$	(17,528	)	$	164,896

Share Transactions:
Issued		369,322			389,528			123,811			127,474
Reinvested		—			545			—			—
Redeemed		(101,311	)		(163,345	)		(128,130	)		(109,268	)

Net change resulting from share transactions		268,011			226,728			(4,319	)		18,206

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		35

Huntington Funds

Statements of Changes in Net Assets


	Huntington VA Mid Corp America Fund						Huntington VA New Economy Fund
	Six Months Ended June 30, 2010			Year Ended December 31, 2009			Six Months Ended June 30, 2010			Year Ended December 31, 2009
	(Unaudited)						(Unaudited)
Increase (Decrease) in Net Assets Operations:
Net investment income (loss)	$	36,116		$	123,643		$	(15,905	)	$	11,957
Net realized gain (loss) on investments and options		639,535			(1,336,524	)		(6,933	)		(1,596,019	)
Net change in unrealized appreciation/depreciation of investments		(961,531	)		6,099,546			(501,588	)		4,500,924

Change in net assets resulting from operations		(285,880	)		4,886,665			(524,426	)		2,916,862

Change in net assets resulting from capital transactions		(1,391,213	)		(1,626,072	)		(308,385	)		13,056

Change in net assets		(1,677,093	)		3,260,593			(832,811	)		2,929,918
Net Assets:
Beginning of period		18,673,495			15,412,902			11,444,169			8,514,251

End of period	$	16,996,402		$	18,673,495		$	10,611,358		$	11,444,169

Accumulated net investment income (loss) included in net assets at end of period	$	159,759		$	123,643		$	(3,948	)	$	11,957

Capital Transactions:
Shares sold	$	1,461,741		$	1,652,655		$	1,129,427		$	1,241,549
Shares redeemed		(2,852,954	)		(3,278,727	)		(1,437,812	)		(1,228,493	)

Net change resulting from capital transactions	$	(1,391,213	)	$	(1,626,072	)	$	(308,385	)	$	13,056

Share Transactions:
Issued		95,935			131,264			99,762			130,831
Redeemed		(188,050	)		(269,661	)		(128,792	)		(132,620	)

Net change resulting from share transactions		(92,115	)		(138,397	)		(29,030	)		(1,789	)

See Notes which are an integral part of the Financial Statements.


		36

Huntington Funds

Statements of Changes in Net Assets


	Huntington VA Real Strategies Fund						Huntington VA Rotating Markets Fund
	Six Months Ended June 30, 2010			Year Ended December 31, 2009			Six Months Ended June 30, 2010			Year Ended December 31, 2009
	Six Months Ended June 30, 2010			Year Ended December 31, 2009			Six Months Ended June 30, 2010			Year Ended December 31, 2009
	(Unaudited)						(Unaudited)
Increase (Decrease) in Net Assets Operations:
Net investment income (loss)	$	(192	)	$	4,383		$	6,529		$	73,676
Net realized gain (loss) on investments and options		26,395			(26,776	)		552,420			(296,580	)
Net change in unrealized appreciation/depreciation of investments		(212,164	)		193,088			(1,213,652	)		1,810,237

Change in net assets resulting from operations		(185,961	)		170,695			(654,703	)		1,587,333

Change in net assets resulting from capital transactions		971,708			725,079			(2,696	)		(155,964	)

Change in net assets		785,747			895,774			(657,399	)		1,431,369
Net Assets:
Beginning of period		1,166,097			270,323			6,472,673			5,041,304

End of period	$	1,951,844		$	1,166,097		$	5,815,274		$	6,472,673

Accumulated net investment income included in net assets at end of period	$	4,371		$	4,563		$	80,205		$	73,676

Capital Transactions:
Shares sold	$	1,054,775		$	754,235		$	1,072,391		$	774,313
Shares redeemed		(83,067	)		(29,156	)		(1,075,087	)		(930,277	)

Net change resulting from capital transactions	$	971,708		$	725,079		$	(2,696	)	$	(155,964	)

Share Transactions:
Issued		135,131			109,967			101,444			84,636
Redeemed		(11,280	)		(4,971	)		(103,855	)		(108,489	)

Net change resulting from share transactions		123,851			104,996			(2,411	)		(23,853	)

H U N T I N G T O N F U N D S

See Notes which are an integral part of the Financial Statements.


		37

Huntington Funds

Statements of Changes in Net Assets


	Huntington VA Situs Fund						Huntington VA Mortgage Securities Fund
	Six Months Ended June 30, 2010			Year Ended December 31, 2009			Six Months Ended June 30, 2010			Year Ended December 31, 2009
	(Unaudited)						(Unaudited)
	(Unaudited)						(Unaudited)
Increase (Decrease) in Net Assets Operations:
Net investment income (loss)	$	(2,337	)	$	98,919		$	172,145		$	313,795
Net realized gain (loss) on investments, options and foreign currency transactions		94,223			(1,869,149	)		64			(76,424	)
Net change in unrealized appreciation/depreciation of investments and foreign currency transactions		(388,940	)		5,767,998			222,851			235,154

Change in net assets resulting from operations		(297,054	)		3,997,768			395,060			472,525

Change in net assets resulting from capital transactions		904,942			1,527,697			2,386,772			1,495,434

Change in net assets		607,888			5,525,465			2,781,832			1,967,959
Net Assets:
Beginning of period		17,034,988			11,509,523			10,957,748			8,989,789

End of period	$	17,642,876		$	17,034,988		$	13,739,580		$	10,957,748

Accumulated net investment income included in net assets at end of period	$	100,741		$	103,078		$	488,241		$	316,096

Capital Transactions:
Shares sold	$	2,775,676		$	2,997,588		$	4,160,231		$	3,455,833
Shares redeemed		(1,870,734	)		(1,469,891	)		(1,773,459	)		(1,960,399	)

Net change resulting from capital transactions	$	904,942		$	1,527,697		$	2,386,772		$	1,495,434

Share Transactions:
Issued		224,125			297,997			363,602			314,006
Redeemed		(153,509	)		(148,330	)		(154,546	)		(182,135	)

Net change resulting from share transactions		70,616			149,667			209,056			131,871

See Notes which are an integral part of the Financial Statements.


		38

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H U N T I N G T O N F U N D S


		39

Huntington Funds

Financial Highlights

(For a share outstanding throughout each period)


	Net Asset Value, Beginning of Period		Net Investment Income		Net Realized and Unrealized Gain (Loss) on Investments		Total From Investment Operations		Distributions from Net Investment Income		Distributions from Net Realized Gain on Investment Transactions		Return of Capital		Total Distributions
Huntington VA Balanced Fund
2008⁽²⁾	$	10.00	0.18		0.09		0.27		(0.01	)	—		—		(0.01	)
2009	$	10.26	0.13	⁽⁶⁾	1.68		1.81		(0.05	)	—		—		(0.05	)
2010⁽⁷⁾	$	12.02	0.06	⁽⁶⁾	(0.32	)	(0.26	)	—		—		—		—
Huntington VA Dividend Capture Fund
2005	$	12.94	0.39		0.07		0.46		(0.39	)	(0.60	)	—		(0.99	)
2006	$	12.41	0.47		1.49		1.96		(0.46	)	(0.30	)	—		(0.76	)
2007	$	13.61	0.47		(1.20	)	(0.73	)	(0.46	)	(0.65	)	—		(1.11	)
2008	$	11.77	0.58		(3.57	)	(2.99	)	(1.05	)	(0.58	)	(0.06	)	(1.69	)
2009	$	7.09	0.37		1.41		1.78		—		—		—		—
2010⁽⁷⁾	$	8.87	0.22		(0.35	)	(0.13	)	—		—		—		—

(1)	If applicable, certain fees were waived and/or reimbursed. If such waivers/reimbursements had not occurred, the ratios would have been as indicated.

(2)	Reflects operations for the period from November 10, 2008 (commencement of operations) to December 31, 2008.

(3)	Not annualized.

(4)	Computed on an annualized basis.

(5)	Does not include the effect of expenses of underlying funds.

(6)	Per share net investment income has been calculated using the average daily shares method.

(7)	Six months ended June 30, 2010 (Unaudited).

See Notes which are an integral part of the Financial Statements.


		40


Net Asset Value, End of Period		Total Return		Ratio of Net Expenses to Average Net Assets		Ratio of Net Investment Income to Average Net Assets		Ratio of Expenses (Prior to Reimbursements) to Average Net Assets⁽¹⁾		Net Assets, at End of Period (000 Omitted)		Portfolio Turnover Rate

$	10.26	2.68	%⁽³⁾	0.10	%⁽⁴⁾⁽⁵⁾	14.05	%⁽⁴⁾	31.88	%⁽⁴⁾⁽⁵⁾	$	234	19	%⁽³⁾
$	12.02	17.70	%	0.10	%⁽⁵⁾	1.11	%	0.61	%⁽⁵⁾	$	6,810	20	%
$	11.76	(2.16	)%⁽³⁾	0.10	%⁽⁴⁾⁽⁵⁾	1.04	%⁽⁴⁾	0.44	%⁽⁴⁾⁽⁵⁾	$	16,930	12	%⁽³⁾

$	12.41	3.59	%	0.93	%	4.41	%	0.93	%⁽⁵⁾	$	44,194	111	%
$	13.61	16.59	%	0.92	%	3.90	%	0.92	%	$	53,671	94	%
$	11.77	(6.13	)%	0.92	%	3.82	%	0.92	%	$	51,243	85	%
$	7.09	(28.08	)%	0.91	%	4.88	%	0.91	%	$	29,332	65	%
$	8.87	25.11	%	1.00	%	4.81	%	1.00	%	$	33,557	94	%
$	8.74	(1.47	)%⁽³⁾	0.96	%⁽⁴⁾	3.82	%⁽⁴⁾	0.96	%⁽⁴⁾	$	30,079	49	%⁽³⁾

H U N T I N G T O N F U N D S


		41

Huntington Funds

Financial Highlights

(For a share outstanding throughout each period)


	Net Asset Value, Beginning of Period		Net Investment Income (Loss)		Net Realized and Unrealized Gain (Loss) on Investments		Total From Investment Operations		Distributions from Net Investment Income		Distributions from Net Realized Gain on Investment Transactions		Return of Capital	Total Distributions
Huntington VA Growth Fund
2005	$	8.95	0.04		0.02		0.06		(0.04	)	—	⁽²⁾	—	(0.04	)
2006	$	8.97	0.04		0.65		0.69		(0.04	)	(0.11	)	—	(0.15	)
2007	$	9.51	0.05		1.34		1.39		(0.04	)	—	⁽²⁾	—	(0.04	)
2008	$	10.86	0.05		(3.84	)	(3.79	)	(0.10	)	(0.83	)	—	(0.93	)
2009	$	6.14	0.01		0.97		0.98		—		—		—	—
2010⁽⁴⁾	$	7.12	—	⁽²⁾	(0.67	)	(0.67	)	—		—		—	—
Huntington VA Income Equity Fund
2005	$	11.62	0.23		0.12		0.35		(0.19	)	—		—	(0.19	)
2006	$	11.78	0.24		1.20		1.44		(0.24	)	(0.36	)	—	(0.60	)
2007	$	12.62	0.27		(0.10	)	0.17		(0.24	)	(0.44	)	—	(0.68	)
2008	$	12.11	0.31		(4.58	)	(4.27	)	(0.56	)	(0.70	)	0.01	(1.27	)
2009	$	6.57	0.22		1.20		1.42		—		—		—	—
2010⁽⁴⁾	$	7.99	0.13		(0.64	)	(0.51	)	—		—		—	—

(1)	If applicable, certain fees were waived and/or reimbursed. If such waivers/reimbursements had not occurred, the ratios would have been as indicated.

(2)	Amount is less than $0.005.

(3)

The portfolio turnover rate increased significantly during the period. This increase was attributable to changes in equity management staff, cash flows in and out of the Fund, as well as tactical portfolio adjustments made. The Fund’s investment strategy in terms of market capitalization, style and diversification did not change (Unaudited).

(4)	Six months ended June 30, 2010 (Unaudited).

(5)	Not annualized.

(6)	Computed on an annualized basis.

See Notes which are an integral part of the Financial Statements.


		42


Net Asset Value, End of Period		Total Return		Ratio of Net Expenses to Average Net Assets		Ratio of Net Investment Income (Loss) to Average Net Assets		Ratio of Expenses (Prior to Reimbursements) to Average Net Assets⁽¹⁾		Net Assets, at End of Period (000 omitted)		Portfolio Turnover rate

$	8.97	0.72	%	0.95	%	0.45	%	0.95	%	$	19,974	15	%
$	9.51	7.76	%	0.93	%	0.48	%	0.93	%	$	21,191	19	%
$	10.86	14.70	%	0.94	%	0.52	%	0.96	%	$	23,172	111	%⁽³⁾
$	6.14	(37.91	)%	0.87	%	0.46	%	0.87	%	$	12,661	84	%
$	7.12	15.96	%	0.99	%	0.19	%	0.99	%	$	15,272	118	%
$	6.45	(9.41	)%⁽⁵⁾	1.00	%⁽⁶⁾	(0.01	)%⁽⁶⁾	1.00	%⁽⁶⁾	$	14,690	134	%⁽⁵⁾

$	11.78	2.98	%	0.93	%	2.15	%	0.93	%	$	35,337	53	%
$	12.62	12.59	%	0.92	%	2.03	%	0.92	%	$	38,614	73	%
$	12.11	0.94	%	0.91	%	1.97	%	0.91	%	$	36,332	116	%
$	6.57	(37.83	)%	0.92	%	2.85	%	0.92	%	$	18,187	96	%
$	7.99	21.61	%	0.97	%	3.28	%	0.97	%	$	20,704	96	%
$	7.48	(6.38	)%⁽⁵⁾	0.98	%⁽⁶⁾	3.11	%⁽⁶⁾	0.98	%⁽⁶⁾	$	18,934	41	%⁽⁵⁾

H U N T I N G T O N F U N D S


		43

Huntington Funds

Financial Highlights

(For a share outstanding throughout each period)


	Net Asset Value, Beginning of Period		Net Investment Income (Loss)		Net Realized and Unrealized Gain (Loss) on Investments		Total From Investment Operations		Distributions from Net Investment Income		Distributions from Net Realized Gain on Investment Transactions		Return of Capital		Total Distributions
Huntington VA International Equity Fund
2005	$	11.07	0.06		1.62		1.68		(0.06	)	(0.02	)	—		(0.08	)
2006	$	12.67	0.13		3.14		3.27		(0.11	)	(0.08	)	—		(0.19	)
2007	$	15.75	0.16		1.99		2.15		—	⁽²⁾	(0.03	)	—		(0.03	)
2008	$	17.87	0.26		(7.31	)	(7.05	)	(0.40	)	(0.36	)	—		(0.76	)
2009	$	10.06	0.23		3.14		3.37		(0.01	)	—		—		(0.01	)
2010⁽³⁾	$	13.42	0.08		(1.68	)	(1.60	)	—		—		—		—
Huntington VA Macro 100 Fund
2005	$	11.13	(0.01	)	0.58		0.57		(0.02	)	—		—		(0.02	)
2006	$	11.68	0.05		0.79		0.84		(0.02	)	(0.14	)	—		(0.16	)
2007	$	12.36	0.05		(0.34	)	(0.29	)	(0.05	)	(1.70	)	(0.18	)	(1.93	)
2008	$	10.14	0.16		(3.60	)	(3.44	)	(0.16	)	—		—		(0.16	)
2009	$	6.54	0.07		1.36		1.43		—		—		—		—
2010⁽³⁾	$	7.97	0.03		(0.42	)	(0.39	)	—		—		—		—

(1)	If applicable, certain fees were waived and/or reimbursed. If such waivers/reimbursements had not occurred, the ratios would have been as indicated.

(2)	Amount is less than $0.005.

(3)	Six months ended June 30, 2010 (Unaudited).

(4)	Not annualized.

(5)	Computed on an annualized basis.

(6)	The major cause of increase to portfolio turnover was changes made to the portfolio by the management team based upon changing macroeconomic fundamentals (Unaudited).

See Notes which are an integral part of the Financial Statements.


		44


Net Asset Value, End of Period		Total Return		Ratio of Net Expenses to Average Net Assets		Ratio of Net Investment Income to Average Net Assets		Ratio of Expenses (Prior to Reimbursements) to Average Net Assets⁽¹⁾		Net Assets, at End of Period (000 Omitted)		Portfolio Turnover Rate

$	12.67	15.21	%	1.00	%	0.96	%	1.78	%	$	2,161	7	%
$	15.75	25.84	%	0.97	%	1.31	%	1.06	%	$	7,666	10	%
$	17.87	13.70	%	0.98	%	1.12	%	1.13	%	$	14,377	21	%
$	10.06	(40.56	)%	0.99	%	2.02	%	1.03	%	$	9,983	16	%
$	13.42	33.47	%	1.01	%	2.17	%	1.05	%	$	16,362	29	%
$	11.82	(11.92	)%⁽⁴⁾	1.01	%⁽⁵⁾	1.91	%⁽⁵⁾	1.01	%⁽⁵⁾	$	17,580	21	%⁽⁴⁾

$	11.68	5.14	%	1.00	%	0.28	%	1.04	%	$	7,749	82	%
$	12.36	7.26	%	0.97	%	0.49	%	0.97	%	$	10,138	213	%⁽⁶⁾
$	10.14	(2.79	)%	0.95	%	0.45	%	0.95	%	$	9,773	148	%
$	6.54	(33.91	)%	0.98	%	1.46	%	0.98	%	$	4,464	287	%
$	7.97	21.87	%	1.04	%	1.09	%	1.06	%	$	5,590	10	%
$	7.58	(4.89	)%⁽⁴⁾	1.14	%⁽⁵⁾	0.61	%⁽⁵⁾	1.14	%⁽⁵⁾	$	5,284	14	%⁽⁴⁾

H U N T I N G T O N F U N D S


		45

Huntington Funds

Financial Highlights

(For a share outstanding throughout each period)


	Net Asset Value, Beginning of Period		Net Investment Income (Loss)		Net Realized and Unrealized Gain (Loss) on Investments		Total From Investment Operations		Distributions from Net Investment Income		Distributions from Net Realized Gain on Investment Transactions		Return of Capital		Total Distributions
Huntington VA Mid Corp America Fund
2005	$	14.67	0.07		1.79		1.86		(0.02	)	(0.02	)	—		(0.04	)
2006	$	16.49	0.11		1.07		1.18		(0.07	)	(0.20	)	—		(0.27	)
2007	$	17.40	0.11		1.42		1.53		(0.11	)	(0.21	)	—		(0.32	)
2008	$	18.61	0.08		(6.95	)	(6.87	)	(0.19	)	(0.77	)	—		(0.96	)
2009	$	10.78	0.10		3.59		3.69		—		—		—		—
2010⁽²⁾	$	14.47	0.04		(0.33	)	(0.29	)	—		—		—		—
Huntington VA New Economy Fund
2005	$	14.38	0.02		1.88		1.90		—		(0.01	)	—		(0.01	)
2006	$	16.27	0.04		1.62		1.66		(0.02	)	(0.25	)	—		(0.27	)
2007	$	17.66	0.10		2.10		2.20		(0.03	)	(0.38	)	—		(0.41	)
2008	$	19.45	0.03		(9.21	)	(9.18	)	(0.11	)	(2.04	)	(0.01	)	(2.16	)
2009	$	8.11	0.01		2.80		2.81		—		—		—		—
2010⁽²⁾	$	10.92	(0.02	)	(0.48	)	(0.50	)	—		—		—		—

(1)	If applicable, certain fees were waived and/or reimbursed. If such waivers/reimbursements had not occurred, the ratios would have been as indicated.

(2)	Six months ended June 30, 2010 (Unaudited).

(3)	Not annualized.

(4)	Computed on an annualized basis.

(5)

The portfolio turnover rate increased significantly during the period. This increase was attributable to changes in equity management staff, cash flows into and out of the Fund, as well as tactical portfolio adjustments made. The Fund’s investment strategy in terms of market capitalization, style and diversification did not change (Unaudited).

See Notes which are an integral part of the Financial Statements.


		46


Net Asset Value, End of Period		Total Return		Ratio of Net Expenses to Average Net Assets		Ratio of Net Investment Income (Loss) to Average Net Assets		Ratio of Expenses (Prior to Reimbursements) to Average Net Assets⁽¹⁾		Net Assets, at End of Period (000 Omitted)		Portfolio Turnover Rate

$	16.49	12.67	%	0.95	%	0.49	%	0.95	%	$	25,215	7	%
$	17.40	7.24	%	0.93	%	0.65	%	0.93	%	$	28,814	8	%
$	18.61	8.75	%	0.92	%	0.56	%	0.92	%	$	30,392	16	%
$	10.78	(38.83	)%	0.93	%	0.43	%	0.93	%	$	15,413	19	%
$	14.47	34.23	%	0.97	%	0.76	%	0.97	%	$	18,673	23	%
$	14.18	(2.00	)%⁽³⁾	0.99	%⁽⁴⁾	0.38	%⁽⁴⁾	0.99	%⁽⁴⁾	$	16,996	12	%⁽³⁾

$	16.27	13.24	%	1.00	%	0.18	%	1.02	%	$	10,737	49	%
$	17.66	10.28	%	0.96	%	0.24	%	0.96	%	$	15,127	51	%
$	19.45	12.50	%	0.94	%	0.59	%	0.94	%	$	18,972	102	%⁽⁵⁾
$	8.11	(52.65	)%	0.93	%	0.18	%	0.93	%	$	8,514	150	%
$	10.92	34.65	%	0.99	%	0.12	%	1.00	%	$	11,444	122	%
$	10.42	(4.58	)%⁽³⁾	1.03	%⁽⁴⁾	(0.27	)%⁽⁴⁾	1.03	%⁽⁴⁾	$	10,611	107	%⁽³⁾

H U N T I N G T O N F U N D S


		47

Huntington Funds

Financial Highlights

(For a share outstanding throughout each period)


	Net Asset Value, Beginning of Period		Net Investment Income (Loss)		Net Realized and Unrealized Gain (Loss) on Investments		Total From Investment Operations		Distributions from Net Investment Income		Distributions from Net Realized Gain on Investment Transactions		Return of Capital		Total Distributions
Huntington VA Real Strategies Fund
2007⁽²⁾	$	10.00	0.16		1.34		1.50		—		—		—		—
2008	$	11.50	0.04	⁽⁵⁾	(5.50	)	(5.46	)	(0.13	)	(0.21	)	(0.03	)	(0.37	)
2009	$	5.67	0.03		1.94		1.97		—		—		—		—
2010⁽⁶⁾	$	7.64	(0.01	)	(0.57	)	(0.58	)	—		—		—		—
Huntington VA Rotating Markets Fund
2005	$	11.89	0.09		1.04		1.13		(0.08	)	(0.24	)	—		(0.32	)
2006	$	12.70	0.14		2.29		2.43		(0.09	)	(0.47	)	—		(0.56	)
2007	$	14.57	0.15		1.16		1.31		(0.13	)	(0.71	)	—		(0.84	)
2008	$	15.04	0.15		(6.02	)	(5.87	)	(0.31	)	(1.01	)	—		(1.32	)
2009	$	7.85	0.12		2.50		2.62		—		—		—		—
2010⁽⁶⁾	$	10.47	0.01		(1.03	)	(1.02	)	—		—		—		—

(1)	If applicable, certain fees were waived and/or reimbursed. If such waivers/reimbursements had not occurred, the ratios would have been as indicated.

(2)	Reflects operations for the period from August 31, 2007 (commencement of operations) to December 31, 2007.

(3)	Not annualized.

(4)	Computed on an annualized basis.

(5)	Per share net investment income (loss) has been calculated using the average daily shares method.

(6)	Six months ended June 30, 2010 (Unaudited).

(7)	Does not include the effect of expenses of underlying funds.

(8)	The portfolio turnover rate increased significantly during the period. This increase was attributable to cash flows into and out of the Fund, as well as tactical portfolio adjustments made. The Fund’s investment strategy did not change (Unaudited).

See Notes which are an integral part of the Financial Statements.


		48


Net Asset Value, End of Period		Total Return		Ratio of Net Expenses to Average Net Assets		Ratio of Net Investment Income (Loss) to Average Net Assets		Ratio of Expenses (Prior to Reimbursements) to Average Net Assets⁽¹⁾		Net Assets, at End of Period (000 Omitted)		Portfolio Turnover Rate

$	11.50	15.00	%⁽³⁾	1.00	%⁽⁴⁾	4.35	%⁽⁴⁾	7.01	%⁽⁴⁾	$	241	34	%⁽³⁾
$	5.67	(49.00	)%	1.00	%	0.41	%	3.59	%	$	270	44	%
$	7.64	34.74	%	1.42	%	0.75	%	1.79	%	$	1,166	33	%
$	7.06	(7.59	)%⁽³⁾	1.65	%⁽⁴⁾	(0.02	)%⁽⁴⁾	1.65	%⁽⁴⁾	$	1,952	13	%⁽³⁾

$	12.70	9.66	%	1.00	%⁽⁷⁾	0.75	%	1.00	%⁽⁷⁾	$	6,847	44	%
$	14.57	19.61	%	0.97	%⁽⁷⁾	1.08	%	0.97	%⁽⁷⁾	$	8,558	31	%
$	15.04	9.03	%	0.98	%⁽⁷⁾	1.17	%	0.98	%⁽⁷⁾	$	10,538	49	%
$	7.85	(42.03	)%	0.93	%⁽⁷⁾	1.09	%	0.93	%⁽⁷⁾	$	5,041	221	%⁽⁸⁾
$	10.47	33.38	%	1.01	%⁽⁷⁾	1.34	%	1.02	%⁽⁷⁾	$	6,473	229	%
$	9.45	(9.74	)%⁽³⁾	1.10	%⁽⁴⁾⁽⁷⁾	0.20	%⁽⁴⁾	1.10	%⁽⁴⁾⁽⁷⁾	$	5,815	147	%⁽³⁾

H U N T I N G T O N F U N D S


		49

Huntington Funds

Financial Highlights

(For a share outstanding throughout each period)


	Net Asset Value, Beginning of Period		Net Investment Income (Loss)		Net Realized and Unrealized Gain (Loss) on Investments		Total From Investment Operations		Distributions from Net Investment Iincome		Distributions from Net Realized Gain on Investment Transactions		Total Distributions
Huntington VA Situs Fund
2005	$	11.97	(0.01	)	2.07		2.06		^—	⁽²⁾	(0.08	)	(0.08	)
2006	$	13.95	—	⁽²⁾	0.68		0.68		(0.01	)	(0.18	)	(0.19	)
2007	$	14.44	0.02		1.60		1.62		(0.05	)	(0.86	)	(0.91	)
2008	$	15.15	0.02		(6.18	)	(6.16	)	(0.03	)	(0.22	)	(0.25	)
2009	$	8.74	0.07		2.81		2.88		—		—		—
2010⁽³⁾	$	11.62	—	⁽²⁾	(0.14	)	(0.14	)	—		—		—
Huntington VA Mortgage Securities Fund
2005	$	10.59	0.37	⁽⁶⁾	(0.24	)	0.13		(0.07	)	—		(0.07	)
2006	$	10.65	0.43	⁽⁶⁾	0.20		0.63		(0.14	)	—		(0.14	)
2007	$	11.14	0.46	⁽⁶⁾	(0.04	)	0.42		(0.24	)	—	⁽²⁾	(0.24	)
2008	$	11.32	0.51		(0.27	)	0.24		(0.92	)	(0.02	)	(0.94	)
2009	$	10.62	0.32		0.26		0.58		—		—		—
2010⁽³⁾	$	11.20	0.09		0.28		0.37		—		—		—

(1)	If applicable, certain fees were waived and/or reimbursed. If such waivers/reimbursements had not occurred, the ratios would have been as indicated.

(2)	Amount is less than $0.005.

(3)	Six months ended June 30, 2010 (Unaudited).

(4)	Not annualized.

(5)	Computed on an annualized basis.

(6)	Per share net investment income (loss) has been calculated using the average daily shares method.

See Notes which are an integral part of the Financial Statements.


		50


Net Asset Value, End of Period		Total Return		Ratio of Net Expenses to Average Net Assets		Ratio of Net Investment Income (Loss) to Average Net Assets		Ratio of Expenses (Prior to Reimbursements) to Average Net Assets⁽¹⁾		Net Assets, at End of Period (000 Omitted)		Portfolio Turnover Rate

$	13.95	17.18	%	0.99	%	(0.19	)%	1.05	%	$	8,003	10	%
$	14.44	4.84	%	0.95	%	0.01	%	0.95	%	$	14,402	17	%
$	15.15	11.37	%	0.94	%	0.19	%	0.94	%	$	19,246	29	%
$	8.74	(41.23	)%	0.95	%	0.18	%	0.95	%	$	11,510	21	%
$	11.62	32.95	%	1.01	%	0.73	%	1.01	%	$	17,035	10	%
$	11.48	(1.20	)%⁽⁴⁾	0.99	%⁽⁵⁾	(0.03	)%⁽⁵⁾	0.99	%⁽⁵⁾	$	17,643	16	%⁽⁴⁾

$	10.65	1.25	%	1.00	%	3.53	%	1.50	%	$	3,208	19	%
$	11.14	5.89	%	0.99	%	3.99	%	1.15	%	$	7,132	36	%
$	11.32	3.93	%	1.00	%	4.09	%	1.07	%	$	10,249	17	%
$	10.62	2.15	%	1.00	%	3.98	%	1.04	%	$	8,990	23	%
$	11.20	5.46	%	1.05	%	3.40	%	1.07	%	$	10,958	29	%
$	11.57	3.30	%⁽⁴⁾	1.09	%⁽⁵⁾	2.75	%⁽⁵⁾	1.09	%⁽⁵⁾	$	13,740	15	%⁽⁴⁾

H U N T I N G T O N F U N D S


		51

Huntington Funds

Notes to Financial Statements (Unaudited)

June 30, 2010

(1)

Organization

The Huntington Funds (the “Trust”) was originally two separate Massachusetts business trusts: The Huntington Funds, established on February 10, 1987, and Huntington VA Funds, established on June 30, 1999 (together, the “Original Trusts”). On June 23, 2006, the Original Trusts were reorganized into a single Delaware statutory trust that retained the name of The Huntington Funds. The Trust is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. At June 30, 2010, the Trust operated 36 separate series, or mutual funds, each with its own investment objective and strategy. The Funds’ prospectus provides a description of each Fund’s investment objectives, policies and strategies along with information on the classes of shares currently being offered. This report contains financial statements and financial highlights of the funds listed below (individually referred to as a “Fund”, or collectively as the “Funds”):

Huntington VA Balanced Fund (“VA Balanced Fund”)

Huntington VA Dividend Capture Fund (“VA Dividend Capture Fund”)

Huntington VA Growth Fund (“VA Growth Fund”)

Huntington VA Income Equity Fund (“VA Income Equity Fund”)

Huntington VA International Equity Fund (“VA International Equity Fund”)

Huntington VA Macro 100 Fund (“VA Macro 100 Fund”)

Huntington VA Mid Corp America Fund (“VA Mid Corp America Fund”)

Huntington VA New Economy Fund (“VA New Economy Fund”)

Huntington VA Real Strategies Fund (“VA Real Strategies Fund”)

Huntington VA Rotating Markets Fund (“VA Rotating Markets Fund”)

Huntington VA Situs Fund (“VA Situs Fund”)

Huntington VA Mortgage Securities Fund (“VA Mortgage Securities Fund”)

The assets of each Fund are segregated and a shareholder’s interest is limited to the Fund in which shares are held.

The Trust accounts for the assets, liabilities and operations of each Fund separately. Shares of the Funds are not offered directly to the public but, pursuant to an exemptive order granted by the Securities and Exchange Commission and procedures adopted by the Trust’s Board of Trustees (the “Trustees”), the Funds were sold during the six-month reporting period only to separate accounts of Hartford Life Insurance Company, Hartford Life and Annuity Insurance Company, Sun Life Assurance Company of Canada (U.S.) and Transamerica Life Insurance Company for use with their respective variable insurance contracts and policies.

Under the Trust’s organizational documents, its officers and 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 may enter 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 generally accepted accounting principles in the United States of America (“GAAP”). 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 estimates.

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. The Trust calculates the NAV for each of the Funds by valuing securities held based on fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

In computing the NAV of the Funds, fair value is based on market valuations with respect to portfolio securities for which market quotations are readily available. Pursuant to Trustee-approved policies, the Trust relies on certain security pricing services to provide current market value of securities. Those security pricing services value equity securities (including foreign equity securities) traded on a securities exchange at the last reported sales price on the principal exchange. Equity securities quoted by NASDAQ are valued at the NASDAQ official closing price. If there is no reported sale on the principal exchange, and in the case


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of over-the-counter securities, equity securities are valued at a bid price estimated by the security pricing service. Option contracts are generally valued at the mean of the bid and asked price as reported on the highest volume exchange (in terms of the number of options contracts traded for that issue) on which such options are traded.

Debt securities traded on a national securities exchange or in the over-the-counter market are valued at the last reported sales price on the principal exchange, except the U.S. government obligations held by the VA Mortgage Securities Fund are valued at the mean between the over-the-counter bid and asked prices furnished by the security pricing service. If there is no reported sale on the principal exchange, and for all other debt securities, debt securities are valued at a bid price estimated by the security pricing service. Foreign securities quoted in foreign currencies are translated in U.S. dollars at the foreign exchange rate in effect as of the close of the New York Stock Exchange (NYSE) (generally 4:00 p.m. Eastern Time), on the day the value of the foreign security is determined. Short-term investments with remaining maturities of 60 days or less at the time of purchase are valued at amortized cost. Investments in other open-end investment companies are valued at the NAV.

Securities for which market quotations are not readily available are valued at fair value under Trust procedures approved by the Trustees. In these cases, 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”). When a good faith fair valuation of a security is required, consideration is generally given to a number of factors, including, but not limited to the following: dealer quotes, published analyses by dealers or analysts regarding the security, transactions which provide implicit valuation of the security (such as a merger or tender offer transaction), the value of other securities or contracts which derive their value from the security at issue, and the implications of any other circumstances which have caused trading in the security to halt. With respect to certain narrow categories of securities, the procedures utilized by the Pricing Committee detail specific valuation methodologies to be applied in lieu of considering the aforementioned list of factors.

Fair valuation procedures are also used when a significant event affecting the value of a portfolio security is determined to have occurred between the time when the price of the portfolio security is determined and the close of trading on the NYSE, which is when each Fund’s NAV is computed. An event is considered significant if there is both an affirmative expectation that the security’s value will change in response to the event and a reasonable basis for quantifying the resulting change in value. Significant events include significant securities market movements occurring between the time when the price of the portfolio security is determined and the close of trading on the NYSE. For domestic fixed income securities, such events may occur where the cut-off time for the market information used by the independent pricing service is earlier than the end of regular trading on the NYSE. For securities normally priced at their last sale price in a foreign market, such events can occur between the close of trading in the foreign market and the close of trading on the NYSE.

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•Level 1		- quoted prices in active markets for identical assets

•Level 2		- other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

•Level 3		- significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.

Pursuant to the valuation procedures noted previously, equity securities (including foreign equity securities) are generally recognized as Level 1 securities in the fair value hierarchy (unless there is a fair valuation event, in which case affected securities are generally categorized as Level 2 securities). Option securities are generally recognized as Level 2 securities in the fair value hierarchy. Debt securities are generally recognized as Level 2 securities in the fair value hierarchy. Mutual funds, exchange traded funds and cash equivalents are generally recognized as Level 1 securities in the fair value hierarchy (unless there is a fair valuation event, in which case affected securities are generally categorized as Level 2 securities).


	LEVEL 1 - Quoted Prices					LEVEL 2 - Other Significant Observable Inputs					Total
Fund Name	Securities		Other Financial Investments*			Securities			Other Financial Investments*		Securities		Other Financial Investments*
VA Balanced Fund
Mutual Funds	$	16,511,388	$	—		$	—		$	—	$	16,511,388	$	—
Cash Equivalents		405,715		—			—			—		405,715		—

Total		16,917,103		—			—			—		16,917,103		—
VA Dividend Capture Fund
Common Stocks		21,570,256		—			—			—		21,570,256		—
Preferred Stocks		7,401,444		—			379,219	⁽¹⁾		—		7,780,663		—
Mutual Funds		428,400		—			—			—		428,400		—
Cash Equivalents		201,381		—			—			—		201,381		—

Total		29,601,481		—			379,219			—		29,980,700		—
VA Growth Fund
Common Stocks		14,453,075		—			—			—		14,453,075		—
Cash Equivalents		56,505		—			—			—		56,505		—

Total		14,509,580		—			—			—		14,509,580		—
VA Income Equity Fund
Common Stocks		18,570,845		—			—			—		18,570,845		—
Cash Equivalents		319,828		—			—			—		319,828		—
Written Options		—		(5,405	)		—			—		—		(5,405	)

Total		18,890,673		(5,405	)		—			—		18,890,673		(5,405	)
VA International Equity Fund
Common Stocks		15,588,761		—			—			—		15,588,761		—
Mutual Funds		820,358		—			—			—		820,358		—
Cash Equivalents		1,100,869		—			—			—		1,100,869		—

Total		17,509,988		—			—			—		17,509,988		—
VA Macro 100 Fund
Common Stocks		5,016,390		—			—			—		5,016,390		—
Cash Equivalents		266,528		—			—			—		266,528		—

Total		5,282,918		—			—			—		5,282,918		—
VA Mid Corp America Fund
Common Stocks		16,345,573		—			—			—		16,345,573		—
Cash Equivalents		644,589		—			—			—		644,589		—

Total		16,990,162		—			—			—		16,990,162		—


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June 30, 2010


	LEVEL 1 - Quoted Prices						LEVEL 2 - Other Significant Observable Inputs				Total
Fund Name	Securities			Other Financial Investments*			Securities		Other Financial Investments*		Securities		Other Financial Investments*
VA New Economy Fund
Common Stocks	$	10,380,633		$	—		$	—	$	—	$	10,380,633	$	—
Cash Equivalents		451,451			—			—		—		451,451		—
Written Options		—			(213,145	)		—		—		—		(213,145	)

Total		10,832,084			(213,145	)		—		—		10,832,084		(213,145	)
VA Real Strategies Fund
Common Stocks		1,512,155			—			—		—		1,512,155		—
Corporate Bonds		—			—			52,840		—		52,840		—
Mutual Funds		149,070			—			—		—		149,070		—
Cash Equivalents		296,912			—			—		—		296,912		—
Written Options		—			(61,363	)		—		—		—		(61,363	)

Total		1,958,137			(61,363	)		52,840		—		2,010,977		(61,363	)
VA Rotating Markets Fund
Mutual Funds		5,305,512			—			—		—		5,305,512		—
Cash Equivalents		506,281			—			—		—		506,281		—

Total		5,811,793			—			—		—		5,811,793		—
VA Situs Fund
Common Stocks		17,101,944			—			—		—		17,101,944		—
Mutual Funds		136,955			—			—		—		136,955		—
Cash Equivalents		362,821			—			—		—		362,821		—
Written Options		—			(3,000	)		—		—		—		(3,000	)

Total		17,601,720			(3,000	)		—		—		17,601,720		(3,000	)
VA Mortgage Securities Fund			��
Common Stocks		1,231,564			—			—		—		1,231,564		—
U.S. Government Mortgage Backed Agencies		—			—			7,905,491		—		7,905,491		—
Collateralized Mortgage Obligations		—			—			2,048,340		—		2,048,340		—
U.S. Government Agencies		—			—			2,031,333		—		2,031,333		—
Cash Equivalents		503,877			—			—		—		503,877		—

Total		1,735,441			—			11,985,164		—		13,720,605		—

Other financial investments are derivative instruments not reflected on the Portfolio of Investments, such as written options contracts.

⁽¹⁾

Consists of Allianz SE, 8.375% listed under Financials.

As of June 30, 2010, there were no significant transfers between levels from the valuation input levels used on March 31, 2010.

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 Huntington Asset Advisors, Inc., a subsidiary of The Huntington National Bank, 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.	When-Issued and Delayed Transactions

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D.	Foreign Currency Translation

The accounting records of the Funds are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars at the current rate of exchange each business day to determine the value of investments, and other assets and liabilities. Purchases and sales of foreign securities, and income and expenses, are translated at the prevailing rate of exchange in the respective date of these transactions. The Funds do not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from fluctuation arising from changes in market prices of securities held. These fluctuations are included with the net realized and unrealized gain or loss from investments and foreign currency transactions.

E.	Derivative Instruments

Foreign Exchange Contracts—VA International Equity Fund, VA Real Strategies Fund and VA Situs Fund may enter into forward foreign exchange contracts. A forward foreign exchange contract involves an obligation to purchase or sell a specific currency at a future date at a price set at the time of the contract. Such contracts are used to sell unwanted currency exposure that comes with holding securities in a market, or to buy currency exposure where the exposure from holding securities is insufficient to provide the desired currency exposure. The contracts are marked-to-market daily and the change in market value is recorded as unrealized appreciation or depreciation. When a forward currency contract is closed, a Fund records a realized gain or loss equal to the difference between the value at the time it was opened and the value at the time it was closed. These unrealized and realized gains and losses are reported on the Statement of Operations. The Funds could be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts and from unanticipated movements in exchange rates. At June 30, 2010, VA International Equity Fund, VA Real Strategies Fund and VA Situs Fund did not have any forward foreign currency exchange contracts outstanding.

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. Investing in written options contracts exposes a Fund to equity price risk.

The following is a summary of VA Growth Fund’s written option activity for the period ended June 30, 2010:


Contracts	Number of Contracts		Premium
Outstanding at 12/31/2009	366		$	45,847
Options written	329			58,816
Options expired	(90	)		(11,036	)
Options closed	(403	)		(54,263	)
Options exercised	(202	)		(39,364	)

Outstanding at 6/30/10	—		$	—

At June 30, 2010, VA Growth Fund had no outstanding options.

The following is a summary of VA Income Equity Fund’s written option activity for the period ended June 30, 2010:


Contracts	Number of Contracts		Premium
Outstanding at 12/31/2009	130		$	16,031
Options written	1,080			44,756
Options expired	(255	)		(11,109	)
Options closed	(95	)		(6,416	)
Options exercised	(130	)		(16,031	)

Outstanding at 6/30/2010	730		$	27,231


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At June 30, 2010, VA Income Equity Fund had the following outstanding options:

WRITTEN OPTION CONTRACTS


Contract	Type	Expiration Date	Exercise Price		Number of Contracts	Fair Value		Unrealized Appreciation
AstraZeneca PLC ADR	Call	July 2010	$	50	80	$	2,400	$	1,520
HCP, Inc.	Call	July 2010		35	100		1,750		2,150
Intel Corp.	Call	July 2010		24	130		195		3,185
Microsoft Corp.	Call	July 2010		32	120		60		5,460
Time Warner, Inc.	Call	July 2010		34	100		500		4,211
XL Capital Ltd., Class A	Call	July 2010		22	200		500		5,300

NET UNREALIZED APPRECIATION ON WRITTEN OPTION CONTRACTS								$	21,826

The following is a summary of VA New Economy Fund’s written option activity for the period ended June 30, 2010:


Contracts	Number of Contracts		Premium
Outstanding at 12/31/2009	74		$	19,347
Options written	979			475,656
Options expired	(28	)		(10,556	)
Options closed	(422	)		(178,528	)
Options exercised	(42	)		(10,964	)

Outstanding at 6/30/2010	561		$	294,955

At June 30, 2010, VA New Economy Fund had the following outstanding options:

WRITTEN OPTION CONTRACTS


Contract	Type	Expiration Date	Exercise Price		Number of Contracts	Fair Value		Unrealized Appreciation (Depreciation)
Advance Auto Parts, Inc.	Call	September 2010	$	45	14	$	8,960	$	1,638
Ashland, Inc.	Call	July 2010		50	11		935		5,082
Bucyrus International, Inc.	Call	October 2010		47	27		17,618		2,686
Cree, Inc.	Call	September 2010		65	31		13,252		16,530
Cytec Industries, Inc.	Call	August 2010		35	15		9,675		(1,920	)
F5 Networks, Inc.	Call	July 2010		65	28		14,700		5,095
FactSet Research Systems, Inc.	Call	September 2010		75	13		1,332		3,200
Forest Oil Corp.	Call	November 2010		30	25		6,688		1,737
Helmerich & Payne, Inc.	Call	September 2010		38	34		9,350		6,188
Intuitive Surgical, Inc.	Call	October 2010		340	3		6,375		1,580
Lubrizol Corp.	Call	September 2010		80	7		4,795		1,970
Lululemon Athletica, Inc.	Call	September 2010		35	41		23,165		7,173
NewMarket Corp.	Call	September 2010		90	10		7,700		5,280
O'Reilly Automotive, Inc.	Call	August 2010		45	22		8,800		7,194
Patterson-UTI Energy, Inc.	Call	November 2010		15	95		7,600		1,615
Pride International, Inc.	Call	October 2010		23	25		5,875		50
Salesforce.com, Inc.	Call	August 2010		80	13		13,975		(1,924	)
SanDisk Corp.	Call	July 2010		40	20		6,950		1,978
True Religion Apparel, Inc.	Call	October 2010		25	70		10,850		10,639
Unit Corp.	Call	September 2010		40	11		4,125		1,892
Veeco Instruments, Inc.	Call	October 2010		25	13		14,495		(4,264	)
VMware, Inc., Class A	Call	October 2010		70	18		6,480		3,186
Wynn Resorts Ltd.	Call	September 2010		80	15		9,450		5,205

NET UNREALIZED APPRECIATION ON WRITTEN OPTION CONTRACTS								$	81,810

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The following is a summary of VA Real Strategies Fund’s written option activity for the period ended June 30, 2010:


Contracts	Number of Contracts		Premium
Outstanding at 12/31/2009	50		$	6,415
Options written	463			107,660
Options expired	(150	)		(17,187	)
Options closed	(238	)		(60,449	)
Options exercised	(10	)		(970	)

Outstanding at 6/30/2010	115		$	35,469

At June 30, 2010, VA Real Strategies Fund had the following outstanding options:

WRITTEN OPTION CONTRACTS


Contract	Type	Expiration Date	Exercise Price		Number of Contracts	Fair Value		Unrealized Appreciation (Depreciation)
Allegheny Corp.	Put	July 2010	$	55	8	$	8,680	$	(5,185	)
CF Industries Holdings, Inc.	Put	August 2010		75	3		3,803		435
Devon Energy Corp.	Put	July 2010		68	8		5,420		(4,355	)
iShares Silver Trust	Put	January 2011		16	10		890		1,340
Massey Energy Co.	Put	October 2010		43	10		15,900		(10,030	)
Petroleo Brasileiro SA ADR	Put	July 2010		40	6		3,420		(1,615	)
Suntech Power Holdings Co. Ltd.	Put	July 2010		14	20		9,600		(1,602	)
United States National Gas Fund	Put	January 2011		10	50		13,650		(4,882	)

NET UNREALIZED DEPRECIATION ON WRITTEN OPTION CONTRACTS								$	(25,894	)

The following is a summary of VA Situs Fund’s written option activity for the period ended June 30, 2010:


Contracts	Number of Contracts		Premium
Outstanding at 12/31/2009	—		$	—
Options written	744			226,379
Options expired	(154	)		(32,904	)
Options closed	(80	)		(22,959	)
Options exercised	(410	)		(130,817	)

Outstanding at 6/30/2010	100		$	39,699

At June 30, 2010, VA Situs Fund had the following outstanding options:

WRITTEN OPTION CONTRACTS


Contract	Type	Expiration Date	Exercise Price		Number of Contracts	Fair Value		Unrealized Appreciation
Jacobs Engineering Group, Inc.	Call	July 2010	$	40	100	$	3,000	$	36,699

NET UNREALIZED APPRECIATION ON WRITTEN OPTION CONTRACTS								$	36,699

The following tables provide a summary of the fair value of derivative instruments, not accounted for as hedging instruments as of June 30, 2010, and the effect of derivative instruments on the Statements of Operations for the period ended June 30, 2010.

The fair value of Derivative Instruments as of June 30, 2010 is as follows:


	Liability Derivatives
Primary Risk Exposure	Statements of Assets and Liabilities Location	Fund	Fair Value
Equity Contracts	Options Written, at value	VA Income Equity Fund	$	5,405
		VA New Economy Fund		213,145
		VA Real Strategies Fund		61,363
		VA Situs Fund		3,000


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June 30, 2010

The effect of Derivative Instruments on the Statements of Operations for the period ended June 30, 2010 is as follows:

Primary Risk

Exposure

Location of Gain (Loss)
on Derivatives Recognized
in Income

Fund

Realized Gain (Loss)
on Derivatives Recognized
in Income

Change in Unrealized
Appreciation/Depreciation
on Derivatives Recognized
in Income

Equity Contracts

Net Realized gain (loss) on option transactions/net change in unrealized appreciation/depreciation of investments and options

VA Growth Fund VA Income Equity Fund VA New Economy Fund VA Real Strategies Fund VA Situs Fund

9,709
(11,835

(6,812

16,405
50,984

)

37,243
19,795
81,246
(25,404

36,699

)

Derivative positions open during the period and at the period end are reflected for each Fund in the tables presented above. The volume of these positions relative to each Fund’s net assets at the close of the reporting period is generally higher than the volume of such positions at the beginning of the reporting period. The Funds value derivative instruments at fair value and recognize changes in fair value currently in the results on operations.

F.	Securities Lending

To generate additional income, the Funds may lend a certain percentage of their total assets, to the extent permitted by the 1940 Act or the rules or regulations thereunder, on a short-term basis to certain brokers, dealers or other financial institutions. In determining whether to lend to a particular broker, dealer or financial institution, the Advisor will consider all relevant facts and circumstances, including the size, creditworthiness and reputation of the borrower. Any loans made will be continuously secured by collateral in cash at least equal to 100% of the value of the securities on loan for the Funds based on the prior day’s closing price. The Funds receive payments from borrowers equivalent to the dividends and interest that would have been earned on securities on loan. In addition, the Funds retain all or a portion of the interest received on investment of collateral or receive a fee from the borrower. Collateral is marked-to-market daily. 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. Although the loan is fully collateralized, if a borrower defaults, a Fund could lose money. 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. Loans are subject to termination by the Funds or the borrower at any time and, therefore, are not considered to be illiquid investments. Brown Brothers Harriman (“BBH”) serves as the sub-custodian for the securities lending program. BBH retains a portion of the earnings from the investment and reinvestment of cash collateral and a portion of any loan fees paid by borrowers with respect to securities loans.

As of June 30, 2010, the Funds were not participating in a securities lending program.

G.	Security Transactions and Related Income

During the period, investment transactions are accounted for no later than the first calculation of the NAV on the business day following the trade date. For financial reporting purposes, however, security transactions are accounted for on trade date on the last business day of the reporting period. 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, less foreign tax withholding (if any), are recorded on the ex-dividend date.

H.	Dividends and Distributions to Shareholders

Dividends from net investment income, if any, are declared and paid annually for the Funds. 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. foreign currency gain/loss, paydowns, distributions and income received from pass through investments), such amounts are reclassified within the capital accounts based on their nature for federal income tax purposes; temporary differences do not require reclassification. Temporary differences are primarily due to market discounts, capital loss carryforwards and losses deferred due to wash sales.

Certain of the Funds may own shares of real estate investment trusts (“REITs”) which report information on the source of their distributions annually. Distributions received from investments in REITs in excess of income from underlying investments are recorded as realized gain and/or as a reduction to the cost of the individual REIT.

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June 30, 2010

I.	Expenses

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.

J.	Federal Income Taxes

It is the policy of each Fund to qualify or continue to qualify as a regulated investment company by complying with the provisions available to certain investment companies, as defined in applicable sections of the Internal Revenue Code, and to make distributions of net investment income and net realized capital gains sufficient to relieve it from all, or substantially all, federal income taxes. In addition to complying with the federal tax requirements applicable to regulated investment companies, the Funds also plan to comply with certain diversification standards applicable to underlying assets of variable annuity contracts in order to avoid taxation on the variable contract owners with respect to earnings allocable to the contract from investments in the Funds.

Withholding taxes on foreign interest, dividends and capital gains with respect to VA International Equity Fund, VA Real Strategies Fund and VA Situs Fund have been provided for in accordance with each applicable country’s tax rules and rates.

As of June 30, 2010, the tax cost of securities and the breakdown of unrealized appreciation (depreciation) for each Fund were as follows:


Fund	Tax Cost of Securities		Unrealized Appreciation		Unrealized Depreciation			Net Unrealized Appreciation/ (Depreciation)*
VA Balanced Fund	$	17,164,207	$	176,515	$	(423,619	)	$	(247,104	)
VA Dividend Capture Fund		29,756,325		1,732,999		(1,508,624	)		224,375
VA Growth Fund		14,895,078		405,185		(790,683	)		(385,498	)
VA Income Equity Fund		19,269,613		1,087,881		(1,466,821	)		(378,940	)
VA International Equity Fund		18,465,759		906,868		(1,862,639	)		(955,771	)
VA Macro 100 Fund		5,681,228		408,785		(807,095	)		(398,310	)
VA Mid Corp America Fund		13,229,096		4,656,130		(895,064	)		3,761,066
VA New Economy Fund		11,309,639		625,464		(1,103,019	)		(477,555	)
VA Real Strategies Fund		2,151,592		57,973		(198,588	)		(140,615	)
VA Rotating Markets Fund		6,308,557		6,243		(503,007	)		(496,764	)
VA Situs Fund		18,771,306		2,352,938		(3,522,524	)		(1,169,586	)
VA Mortgage Securities Fund		13,313,062		517,341		(109,798	)		407,543

The tax character of distributions paid during the fiscal year ended December 31, 2009 were as follows:


	Distributions Paid From*
Fund	Ordinary Income		Net Long Term Capital Gains		Total Taxable Distributions
VA Balanced Fund	$	3,995	$	—	$	3,995
VA International Equity Fund		6,126		—		6,126

The tax character of distributions paid may differ from the character of distributions shown on the Statements of Changes in Net Assets due to short-term capital gains being treated as ordinary income for tax purposes.


		60

Huntington Funds

Notes to Financial Statements (continued)

June 30, 2010

As of December 31, 2009, the components of accumulated earnings (deficit) on a tax basis were as follows:


Fund	Undistributed Ordinary Income		Accumulated Earnings		Accumulated Capital and Other Losses			Unrealized Appreciation (Depreciation)*			Total Accumulated Earnings (Deficit)
VA Balanced Fund	$	21,244	$	21,244	$	(11,053	)	$	321,880		$	332,071
VA Dividend Capture Fund		1,391,042		1,391,042		(15,284,981	)		1,194,833			(12,699,106	)
VA Growth Fund		24,485		24,485		(4,214,242	)		2,000,389			(2,189,368	)
VA Income Equity Fund		573,536		573,536		(8,011,485	)		1,637,368			(5,800,581	)
VA International Equity Fund		244,844		244,844		(2,269,270	)		964,931			(1,059,495	)
VA Macro 100 Fund		50,144		50,144		(2,332,556	)		(365,727	)		(2,648,139	)
VA Mid Corp America Fund		123,643		123,643		(1,813,161	)		4,722,597			3,033,079
VA New Economy Fund		11,498		11,498		(3,985,569	)		126,060			(3,848,011	)
VA Real Strategies Fund		6,506		6,506		(70,384	)		44,379			(19,499	)
VA Rotating Markets Fund		73,676		73,676		(1,373,635	)		716,888			(583,071	)
VA Situs Fund		91,867		91,867		(2,062,562	)		(672,549	)		(2,643,244	)
VA Mortgage Securities Fund		316,096		316,096		(192,438	)		184,692			308,350

As of December 31, 2009, the following Funds had net capital loss carryforwards that expire in the noted fiscal years, to offset future net capital gains, if any, to the extent provided by Treasury regulations:


Fund	2016		2017		Total
VA Balanced Fund	$	800	$	8,765	$	9,565
VA Dividend Capture Fund		4,101,313		10,406,107		14,507,420
VA Growth Fund		2,158,802		2,008,824		4,167,626
VA Income Equity Fund		2,774,215		4,888,207		7,662,422
VA International Equity Fund		226,000		1,984,700		2,210,700
VA Macro 100 Fund		1,759,976		437,242		2,197,218
VA Mid Corp America Fund		438,892		1,348,935		1,787,827
VA New Economy Fund		100,890		3,701,173		3,802,063
VA Real Strategies Fund		23,927		46,457		70,384
VA Rotating Markets Fund		335,513		1,038,122		1,373,635
VA Situs Fund		157,155		1,864,253		2,021,408
VA Mortgage Securities Fund		100,360		92,078		192,438

Net capital losses incurred after October 31 and within the taxable year are deemed to arise on the first business day of the Funds’ next taxable year. For the year ended December 31, 2009, the Funds deferred post-October capital losses and post-October currency losses as follows:


Fund	Post-October Capital Losses		Post-October Currency Losses
VA Balanced Fund	$	1,488	$	—
VA Dividend Capture Fund		777,561		—
VA Growth Fund		46,616		—
VA Income Equity Fund		349,063		—
VA International Equity Fund		49,281		9,289
VA Macro 100 Fund		135,338		—
VA Mid Corp America Fund		25,334		—
VA New Economy Fund		183,506		—
VA Situs Fund		41,154		—

H U N T I N G T O N F U N D S


		61

Huntington Funds

Notes to Financial Statements (continued)

June 30, 2010

K.	Subsequent Events

The Funds have evaluated subsequent events through the date these financial statements were issued, and there are no subsequent events to report. Based upon this evaluation, as noted below in “Administrative and Financial Administration Fees,” a change in sub-contracted service providers is expected to occur on or about September 1, 2010.

(3)

Investment Advisory Fee and Other Transactions with Affiliates

Investment Advisory Fee—Huntington Asset Advisors, Inc. (the “Advisor”), a subsidiary of The Huntington National Bank (“Huntington”), serves as the Funds’ investment advisor. The Advisor receives a fee for its services, computed daily and paid monthly, at an annual rate of 0.60% of the average daily net assets of each Fund, except for VA Balanced Fund, for which the Advisor receives a fee, computed daily and paid monthly, at an annual rate of 0.10% of the average daily net assets of the VA Balanced Fund.

The Advisor has agreed to contractually waive all or a portion of its investment advisory fee for VA Balanced Fund (based on average daily net assets) to which it is otherwise entitled to receive and/or to reimburse certain operating expenses of the VA Balanced Fund in order to limit the total direct net annual operating expenses to not more than 0.10% of the average daily net assets of VA Balanced Fund through April 30, 2011. 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.

Consulting Fee—Laffer Investments, Inc. acts as a consultant (the “Consultant”) to the Advisor for VA Macro 100 Fund. The Advisor pays the Consultant a fee for its services. Neither the Trust nor VA Macro 100 Fund is liable for payment of this fee.

Administrative and Financial Administration Fees—Huntington is the Administrator to the Trust, and Unified Fund Services, Inc. (“Unified”), a subsidiary of Huntington, is the Sub-Administrator. Effective August 1, 2010, Unified was named Huntington Asset Services, Inc. As Administrator, Huntington provides the Funds with certain administrative services. As Sub-Administrator, Unified provides the Funds with certain administrative personnel, and generally assists with the provision of administrative services necessary to operate the Funds. The Administrator pays the Sub-Administrator a fee for the services it provides to the Trust. Under the Administrative Services Agreement, Huntington also provides portfolio accounting services to the Funds. Huntington has sub-contracted certain fund accounting services to Citi Fund Services Ohio, Inc. (“Citi” or “Sub-Financial Administrator”). Citi is paid directly by Huntington, not the Funds, for these services. The fees paid for administrative, sub-administrative, financial administrative and sub-financial administrative services are based on the level of average net assets of each Fund for the period, subject to minimum fees in certain circumstances. On, or about, September 1, 2010, Huntington will begin sub-contracting certain fund accounting services to Unified.

Huntington provides administrative and financial administration and accounting services at the following annual rate on a tiered basis:


Maximum Administrative Fee		Average Daily Net Assets of the Trust
0.1822%		On the first $4 billion
0.1650%		On the next $2 billion
0.1575%		On the next $2 billion
0.1450%		On assets in excess of $8 billion

There is no minimum annual fee per fund or class of shares.

Transfer and Dividend Disbursing Agent Fees and Expenses—Unified is the transfer and dividend disbursing agent for the Funds. For its services, Unified receives a yearly fixed amount per shareholder account, subject to a yearly minimum of $6,000 for each of the Funds. Unified is also entitled to receive additional amounts that may be activity or time-based charges, plus reimbursement for out-of-pocket expenses.

Custodian Fees—Huntington serves as custodian for each of the Funds. BBH serves as sub-custodian for VA International Equity Fund’s, VA Real Strategies Fund’s and VA Situs Fund’s foreign assets. Huntington and BBH receive fees based on the level of a Fund’s average daily net assets for the period, plus out-of-pocket expenses.


		62

Huntington Funds

Notes to Financial Statements (continued)

June 30, 2010

Compliance Services—The Trust has contracted with Huntington to provide a Chief Compliance Officer to the Trust, for which it pays Huntington $125,000 annually.

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


Fund	12/31/09 Market Value		Purchases	Sales			6/30/10 Market Value		Income
VA Dividend Capture Fund	$	850,721	3,257,474	$	(3,906,814	)	$	201,381	$	19
VA Growth Fund		1,818,207	9,381,093		(11,142,795	)		56,505		102
VA Income Equity Fund		354,364	3,008,508		(3,043,044	)		319,828		20
VA International Equity Fund		896,597	5,573,689		(5,369,417	)		1,100,869		79
VA Macro 100 Fund		261,103	985,112		(979,687	)		266,528		17
VA Mid Corp America Fund		866,180	2,998,869		(3,220,460	)		644,589		32
VA New Economy Fund		1,261,950	5,633,839		(6,444,338	)		451,451		48
VA Real Strategies Fund		229,580	665,766		(598,434	)		296,912		14
VA Rotating Markets Fund		389,619	1,765,070		(1,648,408	)		506,281		25
VA Situs Fund		1,709,035	3,895,687		(5,241,901	)		362,821		49
VA Mortgage Securities Fund		551,476	4,791,879		(4,839,478	)		503,877		39

Additionally, the VA Balanced Fund invests in other funds within the Trust. A summary of the VA Balanced Fund’s investments in these affiliated funds is set forth below:


VA Balanced Fund	12/31/09 Market Value		Purchases		Sales			6/30/10 Market Value		Income
Huntington Money Market Fund	$	47,374	$	5,008,501	$	(4,650,160	)	$	405,715	$	16
Huntington Fixed Income Securities Fund		2,115,777		3,847,048		(769,897	)		5,342,352		67,471
VA Dividend Capture Fund		267,237		448,034		(19,200	)		673,476		—
VA Growth Fund		1,200,674		2,282,377		(191,199	)		3,019,672		—
VA Income Equity Fund		798,198		1,437,897		(80,512	)		2,012,962		—
VA International Equity Fund		668,221		1,275,947		(96,340	)		1,674,277		—
VA Macro 100 Fund		332,562		595,833		(115,287	)		838,858		—
VA Mid Corp America Fund		265,754		487,864		(49,260	)		672,034		—
VA New Economy Fund		299,676		585,374		(79,068	)		757,857		—
VA Situs Fund		165,752		307,429		35,221			419,928		—
VA Mortgage Securities Fund		436,045		722,443		—			1,099,972		—

(4)

VA Balanced Fund, VA Real Strategies Fund and VA Rotating Markets Fund Structure

The VA Balanced Fund, VA Real Strategies Fund and VA Rotating Markets Fund (“Investing Funds”), in accordance with their prospectuses, seek to achieve their investment objectives by investing in other investment companies (“Underlying Funds”) with similar investment objectives. As a result, investors in the Investing Funds incur expenses of both the Investing Funds and Underlying Funds, including transaction costs related to the purchases and sales of Underlying Fund shares.

(5)

Investment Transactions

Purchases and sales of investments, excluding short-term securities, for the period ended June 30, 2010, were as follows:


Fund	Purchases		Sales
VA Balanced Fund	$	11,990,246	$	1,435,984
VA Dividend Capture Fund		15,973,434		17,666,464
VA Growth Fund		20,460,319		18,089,733
VA Income Equity Fund		8,225,561		8,325,994
VA International Equity Fund		6,730,961		3,280,577
VA Macro 100 Fund		743,579		746,689
VA Mid Corp America Fund		2,092,818		3,181,815
VA New Economy Fund		11,929,856		11,179,836
VA Real Strategies Fund		1,248,930		169,404
VA Rotating Markets Fund		8,676,610		8,791,347
VA Situs Fund		5,128,215		2,691,220
VA Mortgage Securities Fund		4,877,440		1,734,539

H U N T I N G T O N F U N D S


		63

Huntington Funds

Notes to Financial Statements (continued)

June 30, 2010

Purchases and sales of long-term U.S. government securities for the period ended June 30, 2010 were as follows:


Fund	Purchases		Sales
VA Mortgage Securities Fund	$	4,218,087	$	1,691,945

(6)

Foreign Investment Risk

Compared with investing in the United States, investing in foreign markets involves a greater degree and variety of risk. Investors in international or foreign markets may face delayed settlements, currency controls and adverse economic developments as well as higher overall transaction costs. In addition, fluctuations in the U.S. dollar’s value versus other currencies may erode or reverse gains from investments denominated in foreign currencies or widen losses. Foreign governments may expropriate assets, impose capital or currency controls, impose punitive taxes, impose limits on ownership or nationalize a company or industry. Any of these actions could have a severe effect on security prices and impair the Fund’s ability to bring its capital or income back to the U.S. Exchange rate fluctuations also may impair an issuer’s ability to repay U.S. dollar denominated debt, thereby increasing credit risk of such debt. Finally, the value of foreign securities may be affected by incomplete, less frequent or inaccurate financial information about their issuers, social upheavals or political actions ranging from tax code changes to government collapse. Foreign companies may also receive less coverage than U.S. companies by market analysts and financial reporting standards or regulatory requirements comparable to those applicable to U.S. companies.


		64

Huntington Funds

Supplemental Information (Unaudited)

Shareholder Expense Example

Fund Expenses. As a shareholder of a Fund, you incur ongoing costs, including management fees and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds.

These examples are based on an investment of $1,000.00 invested at the beginning of the period and held for the entire six-month period from January 1, 2010 to June 30, 2010.

Actual Expenses. The “Actual” lines of the table provide information about actual account values and actual expenses. You may use the information on this line, together with the amount you invested to estimate the expense that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600.00 account value divided by $1,000.00 = 8.60), then multiply the result by the number in the “Actual” line under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes. The “Hypothetical” lines of the table provide information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratios and an assumed rate of return of 5% per year before expenses, which are not the Funds’ actual returns. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Funds and other funds. To do so, compare the 5% hypothetical examples with the 5% hypothetical examples that appear in the shareholder reports of other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as withdrawal charges, mortality and expense risk fees and other charges that may be assessed by participating insurance companies under the separate accounts, variable annuity contracts or variable life insurance policies. Therefore, the “Hypothetical” lines of the table are useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.


	Beginning Account Value, January 1, 2010		Ending Account Value, June 30, 2010		Expenses Paid During Period⁽¹⁾		Annualized Expense Ratio
VA Balanced Fund
Actual	$	1,000.00	$	978.40	$	0.49	0.10	%
Hypothetical⁽²⁾	$	1,000.00	$	1,024.30	$	0.50	0.10	%
VA Dividend Capture Fund
Actual	$	1,000.00	$	985.30	$	4.73	0.96	%
Hypothetical⁽²⁾	$	1,000.00	$	1,020.03	$	4.81	0.96	%
VA Growth Fund
Actual	$	1,000.00	$	905.90	$	4.73	1.00	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.84	$	5.01	1.00	%
VA Income Equity Fund
Actual	$	1,000.00	$	936.20	$	4.70	0.98	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.93	$	4.91	0.98	%
VA International Equity Fund
Actual	$	1,000.00	$	880.80	$	4.71	1.01	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.79	$	5.06	1.01	%
VA Macro 100 Fund
Actual	$	1,000.00	$	951.10	$	5.51	1.14	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.14	$	5.71	1.14	%
VA Mid Corp America Fund
Actual	$	1,000.00	$	980.00	$	4.86	0.99	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.89	$	4.96	0.99	%
VA New Economy Fund
Actual	$	1,000.00	$	954.20	$	4.99	1.03	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.69	$	5.16	1.03	%
VA Real Strategies Fund
Actual	$	1,000.00	$	924.10	$	7.87	1.65	%
Hypothetical⁽²⁾	$	1,000.00	$	1,016.61	$	8.25	1.65	%
VA Rotating Markets Fund
Actual	$	1,000.00	$	902.60	$	5.19	1.10	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.34	$	5.51	1.10	%

H U N T I N G T O N F U N D S


		65

Huntington Funds


	Beginning Account Value, January 1, 2010		Ending Account Value, June 30, 2010		Expenses Paid During Period⁽¹⁾		Annualized Expense Ratio
VA Situs Fund
Actual	$	1,000.00	$	988.00	$	4.88	0.99	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.89	$	4.96	0.99	%
VA Mortgage Securities Fund
Actual	$	1,000.00	$	1,033.00	$	5.49	1.09	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.39	$	5.46	1.09	%

⁽¹⁾

Expenses are equal to the Fund’s annualized expense ratios, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). The annualized expense ratios reflect reimbursement of expenses, if applicable, by the Funds’ Advisor for the period beginning January 1, 2010 through June 30, 2010. “The Financial Highlights” tables in the Funds’ financial statements, included in the report, also show the gross expense ratios, without such reimbursements.

⁽²⁾	Hypothetical assumes 5% annual return before expenses.


		66

Variable investment options 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 variable investment options involves investment risk, including the possible loss of principal.

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

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 www.huntingtonvafunds.com. This information is also available from the EDGAR database on the SEC’s website at www.sec.gov.

QUARTERLY PORTFOLIO SCHEDULE

The Funds file with the SEC a complete schedule of their portfolio holdings, as of the first and third quarters of their fiscal year, on “Form N-Q”. These filings are available on the SEC’s website at www.sec.gov and may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. (call 1-202-551-8090 for information on the operation of the Public Reference Room.) You may also access this information at www.huntingtonvafunds.com by selecting “Form N-Q.”

LOGO

Cusip 446327165

Cusip 446771206

Cusip 446771107

Cusip 446771701

Cusip 446771305

Cusip 446771503

Cusip 446771602

Cusip 446771800

Cusip 446771875

Cusip 446771867

Cusip 446771883

Cusip 446327215

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.

(a) Not applicable.

(b) Not applicable.

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

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders.

Not applicable.

Item 11. Controls and Procedures.

(a) The registrant’s Principal Executive Officer and Principal Financial Officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act) are effective in design and operation and are sufficient to form the basis of the certifications required by Rule 30a-2 under the Act, based on their evaluation of these disclosure controls and procedures within 90 days of the filing of this report on Form N-CSR.

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d))) that occurred during the second fiscal quarter of the period covered by this report that have materially affected or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Exhibits.

(a)(1) Not applicable.

(a)(2) Certifications pursuant to Rule 30a-2(a) are attached hereto.

(a)(3) Not applicable.

(b)	Certifications pursuant to Rule 30a-2(b) are furnished herewith.

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 (Signature and Title)* /s/ R. Jeffrey Young

R. Jeffrey Young, Chief Executive Officer and Principal Executive Officer

Date 8/25/10

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 (Signature and Title)* /s/ R. Jeffrey Young

R. Jeffrey Young, Chief Executive Officer and Principal Executive Officer

Date 8/25/10

By (Signature and Title)* /s/ Joel B. Engle

Joel B. Engle, Treasurer and Principal Financial Officer

Date 8/31/10

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