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)

Michelle Forgach, 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, 2011

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, 2011

CLASS A SHARES

TRUST SHARES



*Huntington Tax-Free Money Market Fund*		June 30, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Demand Notes		71.0%
General Market Notes		20.3%
Cash		8.7%
*Total*		*100.0%*

Portfolio holdings and allocations are subject to change. As of June 30, 2011, 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 — 91.2%*
	*Colorado — 4.2%*
$	1,165,000	Colorado Educational & Cultural Facilities Authority, National Jewish Foundation Revenue, Series A-5, 0.040%, 4/1/34 (a)	$	1,165,000
	350,000	Colorado Housing & Finance Authority, (Fannie Mae Ins.), 0.090%, 10/15/16 (a)		350,000
	350,000	Colorado Housing & Finance Authority, (Fannie Mae Ins.), 0.090%, 10/15/16 (a)		350,000
	500,000	Colorado Housing & Finance Authority, (Fannie Mae Ins.) 0.210%, 10/15/16 (a)		500,000
	700,000	Colorado Holland Creek Metropolitan District Revenue, (LOC - Bank of America N.A.), 0.100%, 6/1/41 (a)		700,000
				3,065,000
	*Connecticut — 1.4%*
	1,000,000	Hartford, CT, G.O., BAN, 2.000%, 4/12/12		1,010,709
	*Florida — 25.6%*
	800,000	Broward County, FL, Education Facilities Authority Revenue, (LOC - Bank of America N.A.), 0.080%, 4/1/20 (a)		800,000
	2,990,000	Broward County, FL, School Board, Certificate Participation, (AGM Ins.), 0.110%, 7/1/21 (a)		2,990,000
	1,365,000	Broward County, FL, Housing Finance Authority Revenue, (Freddie Mac Ins.), 0.100%, 12/1/29 (a)		1,365,000
	100,000	Broward County, FL, Education Facilities Authority Revenue, (LOC - Citibank N.A.), 0.080%, 11/1/31 (a)		100,000


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Florida — (Continued)*
$	320,000	Daytona Beach, FL, Capital Improvement Revenue, Series A, 2.000%, 2/1/12	$	322,416
	550,000	Duval County, FL, Housing Finance Authority Revenue, (LOC - U.S. Bank N.A.), 0.090%, 7/1/25 (a)		550,000
	1,580,000	Florida Housing Finance Agency Revenue, Series B, (Fannie Mae Ins. LOC - FNMA), 0.100%, 8/1/11 (a)		1,580,000
	425,000	Fort Pierce, FL, Capital Improvement Revenue, (FGIC), 4.750%, 9/1/21		427,500
	500,000	Jacksonville, FL, Health Facilities Authority Revenue, Baptist Medical Center Project, (LOC - Wells Fargo Bank N.A.), 0.020%, 8/15/21 (a)		500,000
	700,000	Jacksonville, FL, Health Facilities Authority Revenue, Baptist Medical Center Project, (LOC - Wells Fargo Bank N.A.), 0.020%, 8/15/27 (a)		700,000
	390,000	Manatee County, FL, School Board, Certificate Participation, Series A, (AGM Ins.), 4.500%, 7/1/11		390,000
	800,000	North Broward, FL, , Hospital District Revenue, (MBIA Ins. LOC - Wachovia Bank N.A.), 0.060%, 1/15/27 (a)		800,000
	200,000	Palm Beach County, FL, Revenue, (INS LOC - Northern Trust Co.), 0.120%, 5/1/25 (a)		200,000
	1,050,000	Palm Beach County, FL, Revenue, (LOC - Northern Trust Co.), 0.120%, 3/1/30 (a)		1,050,000
	700,000	Palm Beach County, FL, Revenue, (LOC - Northern Trust Co.), 0.100%, 11/1/36 (a)		700,000
	500,000	Pinellas County, FL, Health Facilities Authority Revenue, Series B-2, (AGM Ins.), 0.100%, 11/15/33 (a)		500,000

(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)*
$	140,000	Reedy Creek, FL, Improvement Disctrict Florida Utility Revenue, (SPA - Ambac), 5.000%, 10/1/11	$	141,369
	3,500,000	Sarasota County, FL, Public Hospital District Hospital Revenue, Sarasota Memorial Hospital, Series A, (LOC - Northern Trust Co.), 0.020%, 7/1/37 (a)		3,500,000
	1,000,000	University of South Florida Research Foundation, Inc., Revenue, (LOC - Bank of America N.A.), 0.130%, 8/1/34 (a)		1,000,000
	1,100,000	Volusia County, FL, Housing Finance Authority Refunding Revenue, (Fannie Mae Ins.), 0.100%, 1/15/32 (a)		1,100,000
				18,716,285
	*Indiana — 1.0%*
	700,000	Indiana State Educational Facilities Authority Revenue, Series E, (LOC - U.S. Bank N.A.), 0.100%, 10/1/24 (a)		700,000
	*Massachusetts — 1.4%*
	1,000,000	Worcester, MA, G.O., BAN, 1.125%, 11/8/11		1,001,330
	*Minnesota — 3.3%*
	445,000	Itasca County, MN, G.O., School District No. 318 Referendum, Series A, 2.000%, 2/1/12		448,621
	1,995,000	Minneapolis & St. Paul Housing & Redevelopment Authority Health Care Revenue, Allina Health Systems, Series B-1, (LOC - JPMorgan Chase Bank), 0.030%, 11/15/35 (a)		1,995,000
				2,443,621
	*Missouri — 1.6%*
	1,200,000	Missouri State Health & Educational Facilities Authority Revenue, Series B-2, (LOC - Bank of America N.A.), 0.020%, 10/1/35 (a)		1,200,000
	*New York — 2.7%*
	2,000,000	Poughkeepsie, NY, G.O., BAN, 1.500%, 3/16/12		2,004,897
	*North Carolina — 9.4%*
	2,055,000	Cary, NC, Various Public Improvements, G.O., (SPA - JPMorgan Chase Bank), 0.050%, 6/1/27 (a)		2,055,000
	3,000,000	Charlotte-Mecklenburg Hospital Authority, NC, Health Care System Revenue, Series B, (LOC - U.S. Bank N.A.), 0.020%, 1/15/26 (a)		3,000,000


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*North Carolina — (Continued)*
$	400,000	Charlotte-Mecklenburg Hospital Authority, NC, Health Care System Revenue, Series H, (LOC - Wells Fargo Bank N.A.), 0.020%, 1/15/45 (a)	$	400,000
	500,000	New Hanover County, NC, Hosipital Revenue, Series A-1, (AGM Ins. SPA - Wachovia Bank N.A.), 0.150%, 10/1/23 (a)		500,000
	400,000	New Hanover County, NC, Hosipital Revenue, Series B-1, (AGM Ins.), 0.150%, 10/1/26 (a)		400,000
	500,000	North Carolina Capital Facilities Finance Agency Revenue, (LOC - Wachovia Bank N.A.), 0.060%, 5/1/27 (a)		500,000
				6,855,000
	*Ohio — 21.8%*
	575,000	Butler County, OH, Capital Funding Revenue Bond, Series A, (LOC - U.S. Bank N.A.), 0.090%, 6/1/35 (a)		575,000
	2,385,000	Butler County, OH, Port Authority Economic Development Facilities Revenue, Refunding & Improvement, Great Miami Valley, (LOC - JPMorgan Chase Bank), 0.140%, 9/1/37 (a)		2,385,000
	270,000	Clermont County, OH, Library District Special Obligation Revenue, Series A, 2.000%, 12/1/11		271,117
	400,000	Cleveland, OH, Cleveland-Cuyahoga Ohio Port Authority Revenue, Carnegie/96th Research Building Project, (LOC - PNC Bank N.A.), 0.060%, 1/1/33 (a)		400,000
	170,000	Columbus, OH, Regional Airport Authority Capital Funding Revenue,, Series A, (LOC - U.S. Bank N.A.), 0.090%, 3/1/34 (a)		170,000
	3,835,000	Cuyahoga County, OH, Revenue Subseries B3, (Cleveland Clinic), (SPA - Bank of America N.A.), 0.020%, 1/1/39 (a)		3,835,000
	200,000	Franklin County, OH, Hospital Revenue, U.S. Health Corp., Series A, (LOC - Citibank N.A.), 0.060%, 12/1/21 (a)		200,000
	3,000,000	Franklin County, OH, Health Care Facilities Revenue, Ohio Presbyterian, Series A, (LOC - PNC Bank N.A.), 0.080%, 7/1/36 (a)		3,000,000
	2,035,000	Green, OH, Street Improvements, G.O., BAN, Series B, 1.000%, 6/29/12		2,044,051

(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)*
	*Ohio — (Continued)*
$	362,000	Green, OH, G.O., BAN, Series A, 1.000%, 6/29/12	$	363,249
	100,000	Hamilton County, OH, Hospital Facilities Revenue, Drake Center, Inc., Series A, (LOC - U.S. Bank N.A.), 0.090%, 6/1/19 (a)		100,000
	1,000,000	Maple Heights, OH, City School District, G.O., BAN, 1.250%, 4/12/12		1,002,321
	650,000	Marietta, OH, Various Purposes, G.O., BAN, 2.000%, 5/17/12		654,505
	1,000,000	Union Township, OH, Various Purposes, G.O., BAN, 1.250%, 9/13/11		1,001,007
				16,001,250
	*Oregon — 0.7%*
	500,000	Clackamas County, OR, Hospital Facilities Revenue, Legacy Health System, 0.050%, 6/1/37 (a)		500,000
	*Pennsylvania — 6.0%*
	400,000	Allegheny County, PA, Hosipital Revenue, UPMC Senior Living Corp., (Fannie Mae Ins.), 0.100%, 7/15/28 (a)		400,000
	835,000	Bermudian Springs, PA, School District , (AGM Ins., SPA - Royal Bank of Canada), 0.200%, 5/1/17 (a)		835,000
	500,000	Butler County, PA, Industrial Development Revenue, 0.130%, 12/1/14 (a)		500,000
	140,000	Jeannette, PA , Municipal Authority Sewer Revenue, (AGM Ins.), 0.800%, 7/1/11		140,000
	500,000	Milton, PA, School District, Series AA, (AGM, Ins.), 2.000%, 11/15/11		502,373
	2,000,000	Pittsburgh, PA, Water & Sewer Authority Revenue, Series B-1, (AGM Ins. SPA - JPMorgan Chase Bank), 0.110%, 9/1/33 (a)		2,000,000
				4,377,373
	*Tennessee — 2.2%*
	1,625,000	Jackson, TN, Health Educational & Housing Facility Board Multifamily Revenue, (Fannie Mae Ins.), 0.100%, 5/15/31 (a)		1,625,000
	*Texas — 5.6%*
	200,000	Austin Housing Finance Corp, Housing Finance Corporation Multi Family Housing Revenue, Stassney Woods Apartments, Series A, (Fannie Mae Ins. LOC - JPMorgan Chase Bank), 0.100%, 10/15/32 (a)		200,000


Principal Amount or Shares			*Value*

	*Municipal Bonds — (Continued)*
	*Texas — (Continued)*
$	1,200,000	Harris County, TX Cultural Education Facilities Finance Corp. Revenue, Series B-2, (LOC - JPMorgan Chase & Co.), 0.030%, 9/1/31 (a)	$	1,200,000
	900,000	Katy, TX, Independent School District, G.O., 0.110%, 8/15/33 (a)		900,000
	590,000	North Harris Montgomery Community College District Texas Revenue, Series A, (AMBAC Ins.), 3.750%, 2/15/12		601,229
	100,000	Pasadena, TX, Independent School District, G.O., 5.000%, 2/15/12		101,194
	1,110,000	Travis County, TX, Housing Finance Corp, Multifamily Housing Revenue, Series A, (Fannie Mae Ins.), 0.100%, 2/15/34 (a)		1,110,000
				4,112,423
	*Virginia — 2.3%*
	850,000	Arlington County Industrial Development Authority Revenue, Series A, (Freddie Mac Ins.), 0.100%, 3/1/35 (a)		850,000
	825,000	Hampton, VA, Redevelopment & Housing Authority Multifamily Housing Revenue, Township Apartments Project, (Fannie Mae Ins.), 0.100%, 10/15/32 (a)		825,000
				1,675,000
	*West Virginia — 0.4%*
	300,000	West Virginia Economic Development Authority Revenue, Series A, (SPA - PNC Bank N.A.), 0.130%, 7/1/17 (a)		300,000
	*Wisconsin — 1.6%*
	1,190,000	Edgar, WI, School District, BAN, 1.750%, 3/15/12		1,196,122
	*Total Municipal Bonds (Cost $66,784,010)*			*66,784,010*
	*Cash Equivalents — 8.7%*
	3,000,000	FFI Institutional Tax-Exempt Portfolio, 0.010% (b)		3,000,000
	3,383,357	Fidelity Tax-Exempt Portfolio, Class I, 0.010% (b)		3,383,357
				6,383,357
	*Total Cash Equivalents (Cost $6,383,357)*			*6,383,357*
	Total Investments (Cost $73,167,367) — 99.9%			*73,167,367*
	*Other Assets in Excess of Liabilities — 0.1%*			*68,618*
	*Net Assets — 100.0%*		$	*73,235,985*

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

Semi-Annual Shareholder Report


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

(a)

Variable or Floating Rate Security. Rate disclosed is as of June 30, 2011.

(b)

Rate disclosed is the seven day yield as of June 30, 2011.

AGM — Assured Guaranty Municipal Corp.

BAN — Bond Anticipation Note

FGIC — Federal Government Insurance Corporation

FNMA — Federal National Mortgage Association

G.O. — General Obligation

LOC — Letter of Credit

MBIA — Municipal Bond Insurance Association

SPA — Standby Purchase Agreement

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

Semi-Annual Shareholder Report



*Huntington Money Market Fund*		June 30, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
U.S. Government Agencies		29.5%
Corporate Bonds		21.5%
Commercial Paper		18.3%
Municipal Bonds		14.2%
Cash		13.3%
Certificates of Deposit		3.2%
*Total*		*100.0%*

Portfolio of Investments (unaudited)


Principal Amount			*Value*

	*U.S. Government Agencies — 30.1%*
	*Federal Farm Credit Bank — 6.6%*
$	5,000,000	0.226%, 7/1/11 (a)	$	5,000,000
	15,000,000	0.105%, 5/14/12 (a)		15,000,000
	10,000,000	0.200%, 7/6/12 (a)		10,000,000
				30,000,000
	*Federal Home Loan Bank — 23.5%*
	39,000,000	0.005%, 7/13/11		38,999,935
	10,000,000	0.200%, 7/22/11 (a)		10,000,000
	12,495,000	0.175%, 7/29/11 (a)		12,495,000
	5,000,000	0.160%, 10/21/11 (a)		5,000,786
	10,000,000	0.410%, 4/27/12		10,000,000
	15,000,000	0.105%, 6/6/12 (a)		15,000,000
	15,000,000	0.330%, 7/16/12		15,000,000
				106,495,721
	Total U.S. Government Agencies (Cost $136,495,721)			*136,495,721*
	*Corporate Bonds — 22.0%*
	*Consumer Discretionary — 2.3%*
	5,000,000	McDonald’s Corp., Series G, MTN, 5.750%, 3/1/12		5,179,438
	5,000,000	The Walt Disney Co., Series B, MTN, 6.375%, 3/1/12		5,202,256
				10,381,694
	*Financials — 16.3%*
	15,000,000	Bank of Nova Scotia,, Series YCD, 0.340%, 12/9/11 (a)		15,000,000
	5,450,000	BB&T Corp., 3.100%, 7/28/11		5,459,613
	15,000,000	Canadian Imperial Bank of Commerce of New York, Series YCD, 0.476%, 7/17/12 (a)		15,026,537
	2,725,000	Citigroup, Inc., 5.250%, 2/27/12		2,803,968


Principal Amount			*Value*

	*Corporate Bonds — (Continued)*
	*Financials — (Continued)*
$	2,280,000	Citigroup, Inc., 0.370%, 3/16/12 (a)	$	2,274,745
	5,814,000	Credit Suisse USA, Inc., 6.125%, 11/15/11		5,937,245
	2,898,000	General Electric Capital Corp., Series NOTZ, MTN, 4.000%, 2/15/12		2,961,669
	5,000,000	Goldman Sachs Group, Inc., 0.450%, 2/6/12 (a)		5,000,647
	5,775,000	JPMorgan Chase & Co., Series C, MTN, 0.372%, 12/21/11 (a)		5,778,006
	5,000,000	Morgan Stanley, Series F, MTN, 0.496%, 1/9/12 (a)		4,998,735
	4,200,000	PNC Funding Corp., 0.413%, 1/31/12 (a)		4,201,741
	4,500,000	Wachovia Corp., Series E, MTN, 0.404%, 3/1/12 (a)		4,502,490
				73,945,396
	*Health Care — 1.2%*
	5,000,000	Pfizer, Inc., 4.450%, 3/15/12		5,140,957
	*Industrials — 1.1%*
	5,000,000	General Dynamics Corp., 1.800%, 7/15/11		5,003,009
	*Information Technology — 1.1%*
	5,000,000	Hewlett-Packard Co., 4.250 %, 2/24/12		5,122,258
	*Total Corporate Bonds (Cost $99,593,314)*			*99,593,314*
	*Commercial Papers — 18.7%*
	15,000,000	ANZ National Int’l Ltd./London, 0.374%, 7/25/11 (a) (b) (c)		15,000,000

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

Semi-Annual Shareholder Report


*Huntington Money Market Fund*		(Continued)


Principal Amount			*Value*

	*Commercial Papers — (Continued)*
$	5,000,000	Bank of America NA, 0.390%, 9/13/11	$	4,995,889
	5,000,000	Coca Cola Co., 0.170%, 9/19/11		4,998,111
	5,000,000	HSBC Finance Corp., 0.25%, 9/29/11		4,996,875
	5,000,000	John Deere Credit Ltd., 0.110%, 7/26/11		4,999,618
	5,000,000	Johnson & Johnson, 0.170%, 7/13/11		4,999,700
	5,000,000	Medtronic, Inc., 0.170%, 8/12/11		4,999,008
	5,000,000	Nestle Capital Corp., 0.170%, 7/12/11		4,999,710
	5,000,000	Procter & Gamble, 0.060%, 7/5/11		4,999,961
	15,000,000	Standard Chartered Bank US, 0.290%, 11/2/11		14,985,017
	15,000,000	UBS Financial, Inc., 0.500%, 7/22/11		14,995,450
	*Total Commercial Papers (Cost $84,969,339)*			*84,969,339*
	*Municipal Bonds — 14.4%*
	*Kentucky — 2.1%*
	9,600,000	Carroll County, KY, Solid Waste Disposal Revenue, BPB Acquisition Project, (LOC - Bank of America N.A.), AMT, 0.110%, 5/1/31 (a)		9,600,000
	*New York — 1.3%*
	6,000,000	New York State Local Government Assistance Corp. Revenue, Series B, (SPA - JPMorgan Chase Bank), 0.050%, 4/1/21 (a)		6,000,000
	*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
	4,800,000	North Carolina Capital Facilities Finance Agency Education Facilities Revenue, (LOC - Branch Banking & Trust), 0.100%, 10/1/34 (a)		4,800,000
	5,000,000	Winston-Salem, NC, Water & Sewer Systems Revenue, Series B, (SPA - Branch Banking & Trust), 0.070%, 6/1/30 (a)		5,000,000
				14,800,000
	*Ohio — 5.5%*
	10,000,000	Franklin County, OH, Hospital Revenue, Series A, (SPA - JPMorgan Chase Bank), 0.070%, 11/15/33 (a)		10,000,000


Principal Amount or Shares			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	15,000,000	Ohio State Housing Finance Agency Residential Mortgage Revenue, Series I, (SPA - Citibank N.A.), AMT, 0.080%, 9/1/36 (a)	$	15,000,000
				25,000,000
	*Texas — 2.2%*
	5,130,000	Houston, TX, Independent School District, G.O., (SPA - Bank of America N.A.), 0.570%, 6/15/31 (a)		5,130,000
	5,000,000	Texas State Department of Housing & Community Affairs Multifamily Housing Revenue, (LOC - Citibank N.A.), AMT, 0.100%, 5/1/40 (a)		5,000,000
				10,130,000
	*Total Municipal Bonds (Cost $65,530,000)*			*65,530,000*
	*Cash Equivalents — 13.6%*
	15,000,000	Citi Euro Deposit, 0.070% (d)		15,000,000
	11,504,900	JP Morgan Euro Deposit, 0.010% (d)		11,504,900
	5,000,000	FFI Institutional Fund, 0.210% (d)		5,000,000
	30,000,000	Fidelity Money Market, 0.170% (d)		30,000,000
	*Total Cash Equivalents (Cost $61,504,900)*			*61,504,900*
	*Certificates of Deposit — 3.3%*
	10,000,000	Toronto Dominion Bank 0.270%, 7/7/11		10,000,017
	5,000,000	Toronto Dominion Bank 0.170%, 9/23/11		5,000,000
	*Total Certificates of Deposit (Cost $15,000,017)*			*15,000,017*
	Total Investments (Cost $463,093,291) — 102.1%			*463,093,291*
	*Liabilities in Excess of Other Assets — (2.1)%*			*(9,449,664)*
	*Net Assets — 100.0%*		$	*453,643,627*

(a)

Variable or Floating Rate Security. Rate disclosed is as of June 30, 2011.

(b)

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.

(c)

Illiquid security.

(d)

Rate disclosed is the seven day yield as of June 30, 2011.

AMT — Subject to alternative minimum tax

G.O. — General Obligation

LOC — Letter of Credit

MTN — Medium Term Note

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, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Demand Notes		77.7%
General Market Notes		18.2%
Cash		4.1%
*Total*		*100.0%*

Portfolio of Investments (unaudited)


Principal Amount			*Value*

	*Municipal Bonds — 92.8%*
	*Ohio — 89.9%*
$	4,000,000	Allen County, OH, Catholic Healthcare, Series C, (LOC - Bank of Nova Scotia), 0.020%, 6/1/34 (a)	$	4,000,000
	2,300,000	Allen County, OH, Hospital Facilities Revenue, Series B, (LOC - JPMorgan Chase Bank), 0.030%, 10/1/31 (a)		2,300,000
	100,000	Allen County, OH, Hospital Facilities Revenue, Series A, (LOC - Bank of America N.A.), 0.278%, 10/1/31 (a)		100,000
	100,000	Anthony Wayne Local School District, G.O., 2.000%, 12/1/11		100,522
	900,850	Brecksville-Broadview Heights City School District, G.O., 2.000%, 5/11/12		910,076
	1,035,000	Butler County, OH, Capital Funding Revenue Bond, Series A, (LOC - U.S. Bank N.A.), 0.090%, 6/1/35 (a)		1,035,000
	1,335,000	Canal Winchester, OH, Local School District, School Facilities Construction, G.O., 1.600%, 11/17/11		1,339,287
	1,850,000	Cleveland Heights, OH, Various Purposes, G.O., 1.250%, 8/4/11		1,850,769
	2,000,000	Cleveland, OH, Cleveland-Cuyahoga Ohio Port Authority Revenue, Carnegie/96th Research Building Project, (LOC - PNC Bank N.A.), 0.060%, 1/1/33 (a)		2,000,000
	1,220,000	Cleveland, OH, Cuyahoga County Port Authority Revenue, (LOC - JPMorgan Chase Bank), 0.070%, 1/1/37 (a)		1,220,000
	2,400,000	Cleveland, OH, Cuyahoga County Port Authority Revenue, (LOC - JPMorgan Chase Bank), 0.070%, 1/1/37 (a)		2,400,000


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	100,000	Cleveland, OH Cuyahoga County Port Authority, 0.060%, 4/1/38 (a)	$	100,000
	3,455,000	Columbus, OH, Regional Airport Authority Capital Funding Revenue,, (LOC - U.S. Bank N.A.), 0.090%, 7/1/35 (a)		3,455,000
	1,700,000	Columbus, OH, G.O., Series 1, (SPA - JPMorgan Chase Bank), 0.050%, 6/1/16 (a)		1,700,000
	5,380,000	Columbus, OH, Regional Airport Authority Capital Funding Revenue,, Series A, (LOC - U.S. Bank N.A.), 0.090%, 3/1/34 (a)		5,380,000
	440,000	Columbus, OH, Regional Airport Authority Capital Funding Revenue,, (LOC - U.S. Bank N.A.), 0.090%, 12/1/36 (a)		440,000
	2,000,000	Cuyahoga County, OH, Hospital Revenue, (LOC - Key Bank N.A.), 0.080%, 3/1/33 (a)		2,000,000
	3,510,000	Cuyahoga County, OH, Revenue Subseries B3, (Cleveland Clinic), (SPA - Bank of America N.A.), 0.020%, 1/1/39 (a)		3,510,000
	4,300,000	Cuyahoga County, OH, Revenue Subseries B1, (SPA - JPMorgan Chase Bank), 0.020%, 1/1/39 (a)		4,300,000
	600,000	Deerfield Township, OH, Various Purposes, G.O., Series B, BAN, 1.500%, 11/8/11		601,804
	100,000	Delphi Township, OH, G.O., 2.000%, 12/1/11		100,539
	4,000,000	Elyria, OH, Various Purposes, G.O., 1.125%, 6/8/12		4,010,196
	1,440,000	Euclid, OH, Various Purposes, G.O., 1.500%, 6/14/12		1,448,165

(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)*
$	1,395,000	Forest Park, OH, Various Purposes, G.O., Series B, BAN, 1.350%, 10/27/11	$	1,397,682
	205,000	Franklin County, OH, Hospital Revenue, (LOC - Citibank N.A.), 0.060%, 12/1/11 (a)		205,000
	1,480,000	Franklin County, OH, Industrial Development Revenue, (LOC - Bank One Columbus N.A.), 0.140%, 11/1/14 (a)		1,480,000
	150,000	Franklin County, OH, Nationwide Hospital, Series G, 0.080%, 5/1/29 (a)		150,000
	2,000,000	Franklin County, OH, Health Care Facilities Revenue, Ohio Presbyterian, Series A, (LOC - PNC Bank N.A.), 0.080%, 7/1/36 (a)		2,000,000
	4,000,000	Franklin County, OH, Ohiohealth Facilities, Series A, (SPA - Barclays Bank PLC), 0.030%, 11/15/41 (a)		4,000,000
	1,500,000	Franklin County, OH, Ohiohealth Facilities, Series B, (SPA - Barclays Bank PLC), 0.030%, 11/15/41 (a)		1,500,000
	100,000	Fulton Couny, OH, Health Care Revenue, (LOC - JPMorgan Chase Bank), 0.090%, 11/1/35 (a)		100,000
	2,500,000	Geauga County, OH, G.O., BAN, 1.500%, 8/18/11		2,502,775
	2,200,000	Hamilton County, OH, Economic Development Revenue, Samual W. Bell Home for Sightless, Inc. Project, (LOC - U.S. Bank N.A.), 0.110%, 4/1/22 (a)		2,200,000
	2,000,000	Hamilton County, OH, Hospital Facilities Revenue, Series B, (LOC - PNC Bank N.A.), 0.080%, 6/1/27 (a)		2,000,000
	2,420,000	Hamilton County, OH, Hospital Facilities Revenue, (LOC - U.S. Bank N.A.), 0.090%, 5/15/28 (a)		2,420,000
	1,210,000	Hamilton County, OH, Hospital Facilities Revenue, (LOC - JPMorgan Chase Bank), 0.090%, 5/15/28 (a)		1,210,000
	500,000	Heath, OH, Water Tank Facilities Improvement, G.O., 1.500%, 3/9/12		501,704
	6,600,000	Kent State University, OH, General Receipts Revenue, (Various), Series B, (LOC - Bank of America N.A.), 0.090%, 5/1/32 (a)		6,600,000


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	1,000,000	Lake County, OH, Various Purposes, G.O., 1.500%, 6/28/12	$	1,005,914
	2,849,000	Licking County, OH, County Road Improvement, G.O., 1.000%, 6/13/12		2,859,757
	585,000	Lockland, OH, Various Purposes , G.O., 2.150%, 3/14/12		588,855
	715,000	Mahoning County, OH, G,O., 2.000%, 11/23/11		717,102
	1,511,000	Maple Heights, OH, Ohio City School District, G.O., 1.250%, 4/12/12		1,514,507
	215,000	Massillon, OH, City School District, Classroom Facilities Improvement, 2.000%, 12/1/11		216,158
	4,000,000	Montgomery County, OH, Hospital Revenue, Series B, (AMG Ins.) 0.455%, 8/1/47 (a)		4,000,000
	1,200,000	Montgomery County, OH, Various Catholic Health, Series B-1, 0.050%, 3/1/27 (a)		1,200,000
	1,000,000	Montgomery County, OH, Miami VY Hospital, Series C, (SPA - Wells Fargo Bank N.A.), 0.020%, 11/15/39 (a)		1,000,000
	1,935,000	Montgomery County, OH, Miami VY Hospital, Series B, (SPA - Barclays Bank PLC), 0.020%, 11/15/39 (a)		1,935,000
	4,000,000	Montgomery County, OH, Miami VY Hospital, Series B, (SPA - JP Morgan Chase Bank) 0.020%, 11/15/45 (a)		4,000,000
	100,000	North Canton, OH, G.O., Series A, 2.000%, 12/1/11		100,518
	712,000	Norton, OH, Various Purposes, G,.O., 2.250%, 8/25/11		713,330
	755,000	Norton, OH, City School District, Refunding School Improvement, G.O., 1.875%, 8/25/11		755,872
	5,000,000	Ohio Air Quality Development Authority Refunding Revenue, 0.030%, 2/1/26 (a)		5,000,000
	500,000	Ohio Air Quality Development Authority Refunding Revenue, Series B, (LOC - Wells Fargo Bank N.A.), 0.070%, 12/1/33 (a)		500,000
	400,000	Ohio Housing Finance Agency Multifamily Revenue,, (Housing Chambrel at Montrose), Series F, (Fannie Mae Ins.) 0.280%, 11/15/32 (a)		400,000

(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)*
$	200,000	Ohio State, G.O., Series A, 3.000%, 11/1/11	$	201,635
	1,910,000	Ohio State, G.O., Series C, 0.050%, 6/15/26 (a)		1,910,000
	500,000	Ohio State Higher Educational Facilities, 0.100%, 12/1/37 (a)		500,000
	3,000,000	Ohio State Higher Educational Facilities Commission Revenue, 0.020%, 1/1/43 (a)		3,000,000
	945,000	Ohio State Higher Educational Facilities Revenue, Xavier University Project, (Various), (LOC - U.S. Bank N.A.), 0.060%, 5/1/15 (a)		945,000
	1,045,000	Ohio State Higher Educational Facilities Revenue, Marietta College Project, (LOC - JPMorgan Chase Bank), 0.120%, 12/1/24 (a)		1,045,000
	2,690,000	Ohio State Higher Educational Facilities Revenue, Xavier University, (LOC - U.S. Bank N.A.), 0.060%, 11/1/30 (a)		2,690,000
	345,000	Ohio State Higher Educational Facilities Revenue, (LOC - JPMorgan Chase Bank), 0.100%, 12/1/32 (a)		345,000
	5,000,000	Ohio State Higher Educational Facilities Revenue, (Case Western Reserve), Series B, (LOC - Bank of America N.A.), 0.020%, 12/1/44 (a)		5,000,000
	400,000	Ohio State Parks & Recreation Revenue, Infrastructure Improvements Revenue, G.O., Series B, 0.030%, 8/1/17 (a)		400,000
	5,635,000	Ohio State Parks & Recreation Revenue, G.O., Series D, 0.030%, 2/1/19 (a)		5,635,000
	2,000,000	Ohio State Parks & Recreation Revenue, 0.030%, 2/1/23 (a)		2,000,000
	425,000	Ohio State Parks & Recreation Revenue, School Improvements, G.O., Series A, 0.040%, 3/15/25 (a)		425,000
	820,000	Ohio State Parks & Recreation Revenue, G.O., Series B, 0.040%, 3/15/25 (a)		820,000
	465,000	Ohio State University, Infrastructure Improvements Revenue, Series B, 0.040%, 8/1/21 (a)		465,000
	3,265,000	Ohio State University General Receipts Revenue, (Various), (AMG Ins.), 3.000%, 12/1/26 (a)		3,265,000


Principal Amount or Shares			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	1,160,000	Ohio State University General Receipts Revenue, (Various), 0.030%, 12/1/27 (a)	$	1,160,000
	200,000	Ohio State University General Receipts Revenue, G.O., Series B, 0.040%, 6/1/35 (a)		200,000
	300,000	Ohio State Water Development Authority Revenue, Series B, (LOC - Wachovia Bank N.A.), 0.020%, 12/1/33 (a)		300,000
	600,000	Oxford, OH, Water Supply Systems, G.O., 2.000%, 12/1/11		603,135
	700,000	Parma, OH, Hospital Improvements Revenue, Series C, (LOC - JPMorgan Chase Bank), 0.080%, 11/1/30 (a)		700,000
	625,000	Princeton, OH, County School District, G.O., 1.300%, 11/29/11		626,670
	850,000	Rossford, OH, G.O., 1.000%, 4/13/12		851,980
	4,000,000	Summit County, OH, Healthcare Facilities Revenue, (LOC - PNC Bank. N.A.), 0.130%, 12/1/25 (a)		4,000,000
	300,000	Troy, OH, Various Purposes, G.O., 1.000%, 12/1/11		300,477
	930,000	Trumbull County, OH, G.O., Series B, 1.750%, 3/16/12		935,869
	135,000	Xenia, OH, Community School District, G.O., 0.700%, 12/1/11		135,000
	135,000	Zanesville City School District, G.O., 2.000%, 12/1/11		135,757
				137,671,055
	*Puerto Rico — 2.9%*
	4,500,000	Puerto Rico Highway & Transportation Authority, 2.600%, 1/1/28 (a)		4,500,000
	*Total Municipal Bonds (Cost $142,171,055)*			*142,171,055*
	*Cash Equivalents — 4.0%*
	800	FFI Institutional Tax-Exempt Fund 0.010% (b)		800
	6,140,237	Fidelity Tax-Exempt Portfolio, Class I, 0.010% (b)		6,140,237
				6,141,037
	*Total Cash Equivalents (Cost $6,141,037)*			*6,141,037*
	Total Investments (Cost $148,312,092) — 96.8%			*148,312,092*
	*Other Assets in Excess of Liabilities — 3.2%*			*4,825,889*
	*Net Assets — 100.0%*		$	*153,137,981*

(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, 2011.

(b)

Rate disclosed is the seven day yield as of June 30, 2011.

BAN — Bond Anticipation Note

G.O. — General Obligation

LOC — Letter of Credit

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, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
U.S. Treasury Obligations		63.2%
Repurchase Agreements		36.8%
*Total*		*100.0%*

Portfolio of Investments (unaudited)


Principal Amount			*Value*

	*U.S. Treasury Obligations — 63.2%*
	*U.S. Treasury Bills — 58.6% (a)*
$	9,999,300	0.150%, 7/7/11	$	9,999,008
	15,000,000	0.001%, 7/28/11		14,999,977
	10,000,000	0.001%, 8/4/11		9,999,991
	6,817,500	0.170%, 8/11/11		6,816,141
	5,000,000	0.170%, 9/1/11		4,998,536
	6,171,500	0.030%, 9/8/11		6,171,086
	10,000,000	0.160%, 9/15/11		9,996,601
	25,000,000	0.130%, 9/22/11		24,992,317
	23,130,000	0.120%, 9/29/11		23,123,242
	17,190,500	0.060%, 10/6/11		17,187,759
	25,000,000	0.060%, 10/13/11		24,995,667
	947,600	0.020%, 10/20/11		947,527
	10,000,000	0.060%, 10/27/11		9,998,066
	12,149,100	0.010%, 11/3/11		12,148,467
	15,000,000	0.090%, 11/17/11		14,994,788
	64,500	0.060%, 11/25/11		64,484
				191,433,657
	*U.S. Treasury Notes — 4.6%*
	7,500,000	1.000%, 9/30/11		7,514,412
	7,500,000	1.000%, 10/31/11		7,518,785
				15,033,197
	Total U.S. Treasury Obligations (Cost $206,466,854)			*206,466,854*


Principal Amount			*Value*
	*Repurchase Agreements — 36.8%*
$	30,000,000	Bank of America, 0.000%, dated 6/24/11 due 7/1/11, repurchase price $30,000,000 (Fully collaterlized by U.S. Treasury Bond, 0.625%, 02/28/13)	$	30,000,000
	30,000,000	Barclays Capital Group, 0.000% dated 6/30/11 due 7/7/11, repurchase price $30,000,000 (Fully collaterlized by U.S. Treasury Bond, 0.625%, 01/31/13)		30,000,000
	30,000,000	Credit Suisse, 0.000%, dated 6/30/11 due 7/1/11, repurchase price $30,000,000 (Fully collaterlized by U.S. Treasury Bond, 0.250%, 04/15/14)		30,000,000
	30,000,000	Golman Sachs, 0.010%, dated 6/28/11 due 7/5/11, repurchase price $30,000,058 (Fully collaterlized by U.S. Treasury Bond, 4.375%, 02/15/38)		30,000,000
	Total Repurchase Agreements (Cost $120,000,000)			*120,000,000*
	Total Investments (Cost $326,466,854) — 100.0%			*326,466,854*
	*Liabilities in Excess of Other Assets — (0.0)%*			*(3,512)*
	*Net Assets — 100.0%*		$	*326,463,342*

(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, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Common Stocks		71.0%
Preferred Stocks		24.5%
Cash¹		2.5%
Exchange-Traded Funds		2.0%
*Total*		*100.0%*

¹	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


*Shares*			*Value*

	*Common Stocks — 70.6%*
	*Consumer Discretionary — 3.9%*
	41,000	Comcast Corp., Class A	$	1,038,940
	61,000	Gentex Corp.		1,844,030
	41,500	Hillenbrand, Inc.		981,475
	20,500	The Buckle, Inc.		875,350
	18,000	Time Warner, Inc.		654,660
				5,394,455
	*Consumer Staples — 7.3%*
	69,000	Archer-Daniels-Midland Co.		2,080,350
	19,000	Colgate-Palmolive Co.		1,660,790
	18,000	Ruddick Corp.		783,720
	8,000	The Hershey Co.		454,800
	61,500	Universal Corp.		2,316,705
	36,000	Walgreen Co.		1,528,560
	23,500	Wal-Mart Stores, Inc.		1,248,790
��				10,073,715
	*Energy — 12.2%*
	31,000	Cenovus Energy, Inc.		1,167,460
	9,000	Chevron Texaco Corp.		925,560
	43,000	ConocoPhillips		3,233,170
	44,500	Exxon Mobil Corp.		3,621,410
	34,000	Murphy Oil Corp.		2,232,440
	37,000	Royal Dutch Shell PLC ADR		2,631,810
	52,000	Total SA ADR		3,007,680
				16,819,530
	*Financials — 13.9%*
	20,000	ACE Ltd.		1,316,400
	40,500	American Financial Group, Inc.		1,445,445
	31,500	Assurant, Inc.		1,142,505
	22,000	Bank of Montreal		1,398,100
	61,500	Federated Investors, Inc., Class B		1,466,160
	27,000	Highwoods Properties, Inc.		894,510
	34,000	JPMorgan Chase & Co.		1,391,960
	22,500	M&T Bank Corp.		1,978,875
	51,000	NYSE Euronext		1,747,770
	26,500	The Travelers Cos., Inc.		1,547,070


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Financials — (Continued)*
	28,000	U.S. Bancorp	$	714,280
	61,000	Unitrin, Inc.		1,809,870
	65,000	Waddell & Reed Financial, Inc.		2,362,750
				19,215,695
	*Health Care — 7.2%*
	26,500	Abbott Laboratories		1,394,430
	44,500	AstraZeneca PLC ADR		2,228,115
	8,000	Baxter International, Inc.		477,520
	23,000	Cardinal Health, Inc.		1,044,660
	72,000	Eli Lilly & Co.		2,702,160
	57,500	Merck & Co., Inc.		2,029,175
				9,876,060
	*Industrials — 7.7%*
	17,000	3M Co.		1,612,450
	63,000	Brady Corp.		2,019,780
	56,000	CSX Corp.		1,468,320
	73,000	General Electric Co.		1,376,780
	30,000	Lockheed Martin Corp.		2,429,100
	47,500	Waste Management, Inc.		1,770,325
				10,676,755
	*Information Technology — 3.4%*
	52,000	Corning, Inc.		943,800
	86,000	Intel Corp.		1,905,760
	31,500	Microsoft Corp.		819,000
	76,299	Taiwan Semiconductor Manufacturing Co. Ltd. ADR		962,130
				4,630,690
	*Materials — 2.0%*
	10,000	Sensient Technologies Corp.		370,700
	32,000	Sonoco Products Co.		1,137,280
	36,000	Southern Copper Corp.		1,183,320
				2,691,300

(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 — 6.8%*
	23,000	Acadia Realty Trust	$	467,590
	10,000	EastGroup Properties, Inc.		425,100
	12,000	Entertainment Properties Trust		560,400
	5,000	Equity Residential		300,000
	20,000	HCP, Inc.		733,800
	18,500	Health Care REIT, Inc.		969,955
	5,500	Home Properties, Inc.		334,840
	14,250	Mid-America Apartment Communities, Inc.		961,448
	10,500	National Health Investors, Inc.		466,515
	11,500	PS Business Parks, Inc.		633,650
	39,000	Realty Income Corp.		1,306,110
	5,000	Simon Property Group, Inc.		581,150
	17,000	Sovran Self Storage, Inc.		697,000
	19,000	Ventas, Inc.		1,001,490
				9,439,048
	*Telecommunication Services — 1.9%*
	71,500	Verizon Communications, Inc.		2,661,945
	*Utilities — 4.3%*
	95,000	CMS Energy Corp.		1,870,550
	19,750	Entergy Corp.		1,348,530
	64,000	Exelon Corp.		2,741,760
				5,960,840
	*Total Common Stocks (Cost $91,018,517)*			*97,440,033*
	*Preferred Stocks — 24.3%*
	*Consumer Discretionary — 0.9%*
	50,000	Viacom, Inc., 6.850%		1,268,500
	*Energy — 2.7%*
	60,000	Dominion Resources, Inc., Class A, 8.375%		1,716,600
	70,000	NextEra Energy Capital Holdings, Inc., 8.750%		2,015,300
				3,731,900
	*Financials — 15.7%*
	45,000	Allianz SE, 8.375%		1,215,405
	25,000	American Financial Group, Inc., 7.000%		634,250
	50,000	Ameriprise Financial, Inc., 7.750%		1,372,000
	6,229	Barclays Bank PLC, 6.625%		149,745
	69,998	BB&T Capital Trust V, 8.950%		1,840,247
	50,000	Credit Suisse Guernsey, 7.900%		1,315,500
	20,000	General Electric Capital Corp., 6.000%		512,800
	45,000	Goldman Sachs Group, Inc., 6.200%		1,130,400
	65,000	JPMorgan Chase Capital XXVI, 8.000%		1,719,900
	12,000	KeyCorp Capital VIII, 7.000%		303,960
	65,000	M&T Capital Trust IV, 8.500%		1,703,000


*Shares*			*Value*

	*Preferred Stocks — (Continued)*
	*Financials — (Continued)*
	25,000	Merrill Lynch & Co. Capital Trust V, 7.280%	$	620,750
	60,000	Morgan Stanley Capital Trust, 6.600%		1,474,200
	34,000	PartnerRe Ltd., 6.500%		830,620
	30,000	PLC Capital Trust IV, 7.250%		750,300
	65,000	PNC Capital Trust E, 7.750%		1,688,050
	50,000	Prudential Financial, Inc., 9.000%		1,393,000
	35,000	Renaissancere Holdings Ltd., 6.080%		835,450
	10,000	USB Capital XI, 6.600%		254,700
	75,000	Wachovia Capital Trust X, 7.850%		1,931,250
				21,675,527
	*Real Estate Investment Trusts — 3.2%*
	65,000	Kimco Realty Corp., 7.750%		1,693,900
	30,000	Public Storage, Inc., 6.450%		753,600
	72,000	Vornado Realty LP, 7.875%		1,972,800
				4,420,300
	*Telecommunication Services — 0.5%*
	25,422	AT&T, Inc., 6.375%		680,039
	*Utilities — 1.3%*
	15,000	Interstate Power & Light Co., 8.375%		430,500
	50,000	Xcel Energy, Inc., 7.600%		1,375,000
				1,805,500
	*Total Preferred Stocks (Cost $32,154,865)*			*33,581,766*
	*Exchange-Traded Funds — 2.0%*
	30,000	iShares FTSE/Xinhua China 25 Index Fund		1,860,000
	36,000	The Technology Select Sector SPDR Fund		925,200
	*Total Exchange-Traded Funds (Cost $2,357,340)*			*2,785,200*
	*Cash Equivalents — 2.5%*
	3,464,658	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		3,464,658
	*Total Cash Equivalents (Cost $3,464,658)*			*3,464,658*
	Total Investments (Cost $128,995,380) — 99.4%			*137,271,657*
	*Other Assets in Excess of Liabilities — 0.6%*			*804,724*
	*Net Assets — 100.0%*		$	*138,076,381*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2011.

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 Global Select Markets Fund*		June 30, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Common Stocks		82.7%
Exchange-Traded Funds		9.7%
Foreign Bonds		6.3%
Cash¹		1.3%
*Total*		*100.0%*

¹	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


*Shares*			*Value*

	*Common Stocks — 81.9%*
	*Brazil — 15.3%*
	*Consumer Discretionary — 3.5%*
	16,000	Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR	$	751,200
	22,500	Companhia Brasileira de Distribuicao Grupo Pao de Acucar ADR		758,925
	20,384	Lojas Americanas SA		197,307
				1,707,432
	*Consumer Staples — 0.7%*
	13,000	Natura Cosmeticos SA		326,000
	*Energy — 1.7%*
	25,000	Petroleo Brasileiro S.A. ADR		846,500
	*Financials — 3.5%*
	25,000	Banco Bradesco SA ADR ADR		512,250
	18,000	Itau Unibanco Holding SA		417,577
	35,000	Itau Unibanco Holding SA ADR		824,250
				1,754,077
	*Information Technology — 1.7%*
	45,000	Totvs SA		817,211
	*Materials — 1.9%*
	30,000	Vale SA ADR		958,500
	*Telecommunication Services — 2.3%*
	38,750	Telecomunicacoes de Sao Paulo SA ADR		1,150,875
				7,560,595
	*Canada — 1.7%*
	*Energy — 1.7%*
	27,000	EnCana Corp.		831,330
	*Cayman Islands — 2.9%*
	*Consumer Discretionary — 2.9%*
	440,000	Wynn Macau Ltd.		1,433,363


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Chile — 2.4%*
	*Materials — 2.4%*
	18,000	Sociedad Quimica y Minera de Chile SA ADR	$	1,164,960
	*China — 9.3%*
	*Consumer Staples — 1.7%*
	120,000	China Yurun Food Group Ltd.		337,715
	85,000	Tsingtao Brewery Co. Ltd.		490,992
				828,707
	*Energy — 3.9%*
	500,000	China Oilfield Services Ltd.		909,827
	7,000	PetroChina Co. Ltd. ADR		1,022,210
				1,932,037
	*Financials — 2.7%*
	900,000	Agricultural Bank of China Ltd.		473,033
	900,000	Bank of China Ltd.		438,336
	500,000	China Construction Bank Corp.		414,434
				1,325,803
	*Health Care — 1.0%*
	360,000	Shandong Weigao Group Medical Polymer Co. Ltd.		519,064
				4,605,611
	*Hong Kong — 1.3%*
	*Information Technology — 1.3%*
	390,000	Digital China Holdings Ltd.		631,482
	*India — 3.6%*
	*Financials — 1.4%*
	13,000	Axis Bank Ltd.		375,962
	70,000	Rural Electrification Corp. Ltd.		307,535
				683,497

(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)*
	*India — (Continued)*
	*Health Care — 1.4%*
	20,000	Dr. Reddy’s Laboratories Ltd. ADR	$	686,600
	*Materials — 0.8%*
	105,000	Hindalco Industries Ltd.		425,157
				1,795,254
	*Indonesia — 12.8%*
	*Consumer Discretionary — 2.2%*
	145,000	Astra International Tbk PT		1,074,481
	*Consumer Staples — 2.6%*
	1,900,000	Indofood Sukses Makmur Tbk PT		1,273,904
	*Financials — 2.7%*
	1,200,000	Bank Central Asia Tbk PT		1,070,429
	311,163	Bank Mandiri Tbk PT		261,238
				1,331,667
	*Industrials — 2.1%*
	360,151	United Tractors Tbk PT		1,045,681
	*Materials — 2.1%*
	4,040,000	Holcim Indonesia Tbk PT		1,036,381
	*Utilities — 1.1%*
	1,200,000	Perusahaan Gas Negara PT		563,200
				6,325,314
	*Israel — 1.7%*
	*Health Care — 1.7%*
	17,000	Teva Pharmaceutical Industries Ltd., ADR		819,740
	*Poland — 4.3%*
	*Financials — 2.5%*
	3,200	Bank Pekoe SA		189,230
	9,000	Bre Bank SA*		1,069,343
				1,258,573
	*Utilities — 1.8%*
	100,000	Polska Grupa Energetyczna SA		874,257
				2,132,830
	*Republic of South Korea — 13.5%*
	*Consumer Discretionary — 3.8%*
	63,000	Dong Ah Tire & Rubber Co Ltd.		560,866
	5,800	Hyundai Motor Co.		1,288,164
				1,849,030
	*Consumer Staples — 2.5%*
	2,850	LG Household & Health Care Ltd.		1,225,893
	*Financials — 1.2%*
	21,420	Korean Reinsurance Co.		280,020
	7,000	Shinhan Financial Group Co. Ltd.*		333,896
				613,916


Principal Amount or Shares			*Value*

	*Common Stocks — (Continued)*
	*Republic Of South Korea — (Continued)*
	*Industrials — 2.3%*
	2,750	Hyundai Heavy Industries Co. Ltd.*	$	1,142,934
	*Materials — 3.7%*
	1,400	Korea Zinc Co. Ltd.*		537,250
	12,000	POSCO ADR		1,303,440
				1,840,690
				6,672,463
	*South Africa — 1.6%*
	*Energy — 1.6%*
	15,000	Sasol Ltd. ADR		793,350
	*Taiwan — 10.2%*
	*Consumer Staples — 0.8%*
	70,000	President Chain Store Corp.		403,346
	*Financials — 2.2%*
	710,000	Fubon Financial Holding Co. Ltd.		1,088,080
	*Materials — 6.1%*
	885,160	Asia Cement Corp.		1,259,730
	275,000	Formosa Plastics Corp.		987,972
	243,000	Taiwan Fertilizer Co. Ltd.		744,798
				2,992,500
	*Telecommunication Services — 1.1%*
	15,708	Chunghwa Telecom Co. Ltd. ADR		542,711
				5,026,637
	*United Kingdom — 1.3%*
	*Materials — 1.3%*
	8,800	Rio Tinto PLC ADR		636,416
	*Total Common Stocks (Cost $35,801,981)*			*40,429,345*
	*Exchange-Traded Funds — 9.7%*
	20,000	iShares FTSE China 25 Index Fund		859,000
	17,500	iShares MSCI All Peru Capped Index Fund		658,350
	6,500	iShares MSCI Chile Investable Market Index Fund		489,905
	120,000	iShares MSCI Malaysia Index Fund		1,833,600
	50,000	iShares MSCI Hong Kong Index Fund		926,000
	*Total Exchange-Traded Funds (Cost $4,821,441)*			*4,766,855*
	*Foreign Bonds — 6.2%*
	200,000	Australian Government, Series 119, 6.250%, 4/15/15 (a)		225,097
	200,000	Australian Government, Series 120, 6.000%, 2/15/17 (a)		225,578
	750,000	Brazilian Government International Bond, 12.500%, 1/5/16 (b)		566,106
	200,000	Canadian Government, 4.000%, 6/1/17 (c)		224,000

(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*

	*Foreign Bonds — (Continued)*
	350,000	European Bank for Reconstruction & Development, Series E, MTN, 9.500%, 11/6/13 (b)	$	228,375
	1,000,000,000	Indonesian Treasury Bill, Series SP19, 0.000%, 7/7/11 (d) (e)		115,928
	1,700,000,000	Indonesia Government, Series FR55, 7.375%, 9/15/16 (d)		202,288
	4,700,000,000	Indonesian Government, Series FR53, 8.250%, 7/15/21 (d)		571,031
	4,200,000,000	Indonesian Government, Series FR23, 11.000%, 12/15/12 (d)		524,690
	1,700,000,000	KFW, Series E, 7.500%, 7/17/12 (d)		202,708
				3,085,801
	*Total Foreign Bonds (Cost $2,775,956)*			*3,085,801*
	*Cash Equivalents — 1.3%*
	624,805	Huntington Money Market Fund, Interfund Shares, 0.010% (f) (g)		624,805
	250	Fidelity Institutional Money Market Portfolio, 0.170% (f)		250
	*Total Cash Equivalents (Cost $625,055)*			*625,055*
	Total Investments (Cost $44,024,433) — 99.1%			*48,907,056*
	*Other Assets in Excess of Liabilities — 0.9%*			*449,527*
	*Net Assets — 100.0%*		$	*49,356,583*

(a)

Foreign-denominated security. Principal amount is reported in Australian Dollars.

(b)

Foreign-denominated security. Principal amount is reported in Brazilian Real.

(c)

Foreign-denominated security. Principal amount is reported in Canadian Dollars.

(d)

Foreign-denominated security. Principal amount is reported in Indonesian Rupiah.

(e)

Zero coupon capital appreciation bond.

(f)

Rate disclosed is the seven day yield as of June 30, 2011.

(g)

Investment in affiliate.

*	Non-income producing security.

ADR — American Depositary Receipt

MTN

— Medium Term Note

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

Semi-Annual Shareholder Report



*Huntington Growth Fund*		June 30, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Information Technology		28.9%
Health Care		13.1%
Consumer Discretionary		12.5%
Consumer Staples		12.0%
Industrials		11.0%
Energy		7.1%
Cash¹		4.5%
Materials		3.9%
Telecommunication Services		3.7%
Real Estate Investment Trusts		1.9%
Financials		0.9%
Utilities		0.5%
*Total*		*100.0%*

¹	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


*Shares*			*Value*

	*Common Stocks — 95.5%*
	*Consumer Discretionary — 12.5%*
	7,290	Amazon.com, Inc.*	$	1,490,732
	7,170	Chipotle Mexican Grill, Inc.*		2,209,722
	27,560	Ctrip.com International Ltd. ADR*		1,187,285
	31,900	DIRECTV, Class A*		1,621,158
	55,970	Home Depot, Inc.		2,027,233
	20,360	Lululemon Athletica, Inc.*		2,276,655
	18,120	McDonald’s Corp.		1,527,878
	11,920	Netflix, Inc.*		3,131,265
	3,830	Priceline.com, Inc.*		1,960,692
				17,432,620
	*Consumer Staples — 12.0%*
	86,680	Altria Group, Inc.		2,289,219
	52,380	McCormick & Co., Inc.		2,596,477
	36,050	PepsiCo, Inc.		2,539,002
	34,720	Philip Morris International, Inc.		2,318,254
	37,820	Procter & Gamble Co.		2,404,217
	36,720	The Coca-Cola Co.		2,470,889
	38,390	Wal-Mart Stores, Inc.		2,040,045
				16,658,103
	*Energy — 7.1%*
	17,840	Anadarko Petroleum Corp.		1,369,398
	15,720	Carbo Ceramics, Inc.		2,561,574
	12,780	Chevron Texaco Corp.		1,314,295
	47,380	Enterprise Products Partners LP		2,047,290
	21,500	Peabody Energy Corp.		1,266,565


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Energy — (Continued)*
	15,580	Schlumberger Ltd.	$	1,346,112
				9,905,234
	*Financials — 0.9%*
	13,380	Aflac, Inc.		624,578
	14,490	JPMorgan Chase & Co.		593,221
				1,217,799
	*Health Care — 13.1%*
	39,290	Abbott Laboratories		2,067,440
	29,250	Edwards LifeSciences Corp.*		2,550,015
	59,740	Merck & Co., Inc.		2,108,225
	22,450	Novo-Nordisk A/S ADR		2,812,536
	47,800	Pfizer, Inc.		984,680
	43,340	UnitedHealth Group, Inc.		2,235,477
	48,140	Varian Medical Systems, Inc.*		3,370,763
	27,660	WellPoint, Inc.		2,178,778
				18,307,914
	*Industrials — 11.0%*
	31,350	Caterpillar, Inc.		3,337,521
	106,410	CSX Corp.		2,790,070
	35,760	Deere & Co.		2,948,412
	35,780	Joy Global, Inc.		3,407,687
	27,690	Union Pacific Corp.		2,890,836
				15,374,526

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

Semi-Annual Shareholder Report


*Huntington Growth Fund*		(Continued)


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Information Technology — 28.9%*
	19,690	Apple, Inc.*	$	6,609,342
	99,090	ARM Holdings PLC ADR		2,817,129
	46,300	Baidu, Inc. SP ADR*		6,488,019
	170,380	EMC Corp.*		4,693,969
	16,430	International Business Machines Corp.		2,818,567
	39,750	NetEase.com, Inc. ADR*		1,792,328
	91,430	Oracle Corp.		3,008,961
	48,810	QUALCOMM, Inc.		2,771,920
	84,750	Rackspace Hosting, Inc.*		3,622,215
	19,180	Salesforce.com, Inc.*		2,857,436
	68,000	SanDisk Corp.*		2,822,000
				40,301,886
	*Materials — 3.9%*
	20,360	Allegheny Technologies, Inc.		1,292,249
	38,300	Du Pont (E.I.) de Nemours & Co.		2,070,115
	12,570	Freeport-McMoRan Copper & Gold, Inc., Class B		664,953
	19,960	Rio Tinto PLC ADR		1,443,507
				5,470,824
	*Real Estate Investment Trusts — 1.9%*
	24,380	Health Care REIT, Inc.		1,278,243
	19,670	Mid-America Apartment Communities, Inc.		1,327,135
				2,605,378


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Telecommunication Services — 3.7%*
	80,920	Aruba Networks, Inc.*	$	2,391,186
	90,580	Frontier Communications Corp.		730,981
	18,540	Verizon Communications, Inc.		690,244
	101,930	Windstream Corp.		1,321,013
				5,133,424
	*Utilities — 0.5%*
	17,290	AGL Resources, Inc.		703,876
	*Total Common Stocks (Cost $111,135,250)*			*133,111,584*
	*Cash Equivalents — 4.5%*
	6,336,914	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		6,336,914
	*Total Cash Equivalents (Cost $6,336,914)*			*6,336,914*
	Total Investments (Cost $117,472,164) — 100.0%			*139,448,498*
	*Other Assets in Excess of Liabilities — 0.0%*			*1,548*
	*Net Assets — 100.0%*		$	*139,450,046*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2011.

*	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 Income Equity Fund*		June 30, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Energy		18.6%
Financials		13.3%
Industrials		12.0%
Consumer Staples		11.1%
Health Care		11.0%
Real Estate Investment Trusts		7.1%
Utilities		6.6%
Information Technology		6.1%
Consumer Discretionary		6.0%
Materials		3.1%
Telecommunication Services		2.9%
Cash¹		2.2%
*Total*		*100.0%*

¹	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


*Shares*			*Value*

	*Common Stocks — 98.0%*
	*Consumer Discretionary — 6.0%*
	95,000	H & R Block, Inc.	$	1,523,800
	24,800	Time Warner Cable, Inc., Class A		1,935,392
	41,200	Time Warner, Inc.		1,498,444
	26,400	Whirlpool Corp.		2,146,848
				7,104,484
	*Consumer Staples — 11.1%*
	70,500	Altria Group, Inc.		1,861,905
	32,100	Kellogg Co.		1,775,772
	22,300	Kimberly-Clark Corp. (a)		1,484,288
	34,100	Philip Morris International, Inc.		2,276,857
	61,500	Sysco Corp.		1,917,570
	58,000	Unilever NV		1,905,300
	34,700	Wal-Mart Stores, Inc.		1,843,958
				13,065,650
	*Energy — 18.7%*
	49,400	BP PLC ADR		2,187,926
	22,600	Chevron Texaco Corp.		2,324,184
	30,300	ConocoPhillips		2,278,257
	71,700	Enerplus Corp.		2,265,720
	41,100	Eni SpA ADR		1,954,305
	24,900	Exxon Mobil Corp.		2,026,362
	12,000	PetroChina Co. Ltd.		1,752,360
	47,900	Repsol YPF SA ADR (a)		1,665,004
	31,000	Royal Dutch Shell PLC ADR		2,205,030
	32,900	Total SA ADR		1,902,936


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Energy — (Continued)*
	31,000	YPF SA ADR	$	1,396,550
				21,958,634
	*Financials — 13.4%*
	31,100	Bank of Montreal		1,976,405
	27,200	Canadian Imperial Bank of Commerce		2,147,984
	40,400	HSBC Holdings PLC ADR		2,004,648
	22,900	M&T Bank Corp.		2,014,055
	53,000	NYSE Euronext		1,816,310
	34,100	PNC Financial Services Group, Inc.		2,032,701
	59,000	Sun Life Financial, Inc.		1,774,720
	33,500	The Travelers Cos., Inc.		1,955,730
				15,722,553
	*Health Care — 11.0%*
	42,200	AstraZeneca PLC ADR		2,112,954
	27,600	Baxter International, Inc.		1,647,444
	64,000	Eli Lilly & Co.		2,401,920
	66,000	Merck & Co., Inc.		2,329,140
	110,000	Pfizer, Inc.		2,266,000
	54,000	Sanofi-Aventis ADR		2,169,180
				12,926,638
	*Industrials — 12.0%*
	19,800	Caterpillar, Inc.		2,107,908
	33,000	Eaton Corp.		1,697,850
	28,100	General Dynamics Corp.		2,094,012

(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)*
	119,000	General Electric Co.	$	2,244,340
	27,800	Lockheed Martin Corp.		2,250,966
	109,000	R.R. Donnelley & Sons Co.		2,137,490
	43,300	Waste Management, Inc. (a)		1,613,791
				14,146,357
	*Information Technology — 6.1%*
	131,000	Applied Materials, Inc.		1,704,310
	111,000	Cisco Systems, Inc.		1,732,710
	87,000	Intel Corp.		1,927,920
	69,000	Microsoft Corp.		1,794,000
				7,158,940
	*Materials — 3.1%*
	62,000	International Paper Co.		1,848,840
	50,000	The Dow Chemical Co.		1,800,000
				3,648,840
	*Real Estate Investment Trusts — 7.1%*
	59,000	HCP, Inc.		2,164,710
	43,200	Health Care REIT, Inc.		2,264,976
	52,000	Mack-Cali Realty Corp.		1,712,880
	19,200	Simon Property Group, Inc.		2,231,616
				8,374,182
	*Telecommunication Services — 2.9%*
	54,000	AT&T, Inc.		1,696,140
	46,200	Verizon Communications, Inc.		1,720,026
				3,416,166


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Utilities — 6.6%*
	52,000	Ameren Corp.	$	1,499,680
	32,000	Dominion Resources, Inc., Class A		1,544,640
	28,800	Integrys Energy Group, Inc.		1,492,992
	56,000	PPL Corp.		1,558,480
	34,900	Progress Energy, Inc.		1,675,549
				7,771,341
	*Total Common Stocks (Cost $105,112,199)*			*115,293,785*
	*Cash Equivalents — 2.3%*
	2,656,788	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)		2,656,788
	*Total Cash Equivalents (Cost $2,656,788)*			*2,656,788*
	*Total Investments (Cost $107,768,987) — 100.3%*			*117,950,573*
	*Liabilities in Excess of Other Assets — (0.3)%*			*(347,369)*
	*Net Assets — 100.0%*		$	*117,603,204*

(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, 2011.

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, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Japan		18.5%
United Kingdom		16.5%
France		9.7%
Germany		7.9%
Switzerland		5.7%
Singapore		5.1%
Sweden		4.3%
Canada		4.1%
Cash¹		4.1%
Australia		4.0%
Exchange-Traded Funds		3.4%
Hong Kong		2.9%
Spain		2.8%
Italy		2.4%
Netherlands		2.0%
Taiwan		1.7%
United States		1.4%
Isreal		1.2%
Mexico		1.0%
Closed-End Fund		0.9%
Republic of South Korea		0.4%
*Total*		*100.0%*

¹	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


*Shares*			*Value*

	*Common Stocks — 91.2%*
	*Australia — 4.0%*
	*Consumer Staples — 2.1%*
	1,234,000	Foster’s Group Ltd.	$	6,815,486
	*Materials — 1.9%*
	129,000	BHP Billiton Ltd.		6,059,521
				12,875,007
	*Canada — 4.0%*
	*Energy — 2.2%*
	106,000	Cenovus Energy, Inc.		3,991,960
	108,000	EnCana Corp.		3,325,320
				7,317,280
	*Telecommunication Services — 1.8%*
	146,000	BCE, Inc.		5,736,340
				13,053,620


*Shares*			*Value*
*Shares*			*Value*

	*Common Stocks — (Continued)*
	*France — 9.7%*
	*Energy — 1.9%*
	105,541	Total SA	$	6,103,945
	*Financials — 3.7%*
	243,900	AXA SA ADR		5,556,042
	84,011	BNP Paribas		6,485,252
				12,041,294
	*Health Care — 2.2%*
	88,000	Sanofi-Aventis		7,075,223
	*Utilities — 1.9%*
	46,172	GDF Suez ADR		1,696,821
	121,000	GDF Suez		4,428,156
				6,124,977
				31,345,439

(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 — 7.9%*
	*Consumer Staples — 2.4%*
	113,000	Henkel AG & Co. KGaA	$	7,844,696
	*Industrials — 3.9%*
	187,000	GEA Group AG		6,694,359
	42,200	Siemens AG		5,795,577
				12,489,936
	*Materials — 1.6%*
	67,000	K+S AG		5,149,735
				25,484,367
	*Hong Kong — 2.9%*
	*Consumer Discretionary — 1.1%*
	1,810,000	Li & Fung Ltd.		3,605,253
	*Financials — 1.8%*
	133,000	Hong Kong Exchanges and Clearing Ltd.		2,787,604
	434,000	The Wharf (Holdings) Ltd.		3,014,470
				5,802,074
				9,407,327
	*Israel — 1.2%*
	*Health Care — 1.2%*
	81,000	Teva Pharmaceutical Industries Ltd. ADR		3,905,820
	*Italy — 2.4%*
	*Energy — 1.7%*
	102,000	Saipem SpA		5,266,043
	*Financials — 0.7%*
	1,100,000	UniCredit SpA		2,329,055
				7,595,098
	*Japan — 18.5%*
	*Consumer Discretionary — 3.7%*
	174,000	Honda Motor Co. Ltd.		6,667,785
	238,000	Panasonic Corp.		2,897,211
	90,000	Sony Corp. ADR		2,375,100
				11,940,096
	*Consumer Staples — 0.9%*
	66,644	Unicharm Corp.		2,905,664
	*Financials — 1.8%*
	1,040	Japan Prime Realty Investment Corp.		2,751,630
	300	Japan Real Estate Investment Corp.		2,947,643
				5,699,273
	*Industrials — 5.3%*
	41,900	FANUC Ltd.		6,963,816
	213,000	KOMATSU Ltd.		6,606,559
	77,000	Makita Corp.		3,567,605
				17,137,980


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Japan — (Continued)*
	*Information Technology — 5.4%*
	134,883	Canon, Inc.	$	6,383,507
	26,100	KEYENCE Corp.		7,372,387
	57,000	Murata Manufacturing Co Ltd.		3,787,963
				17,543,857
	*Materials — 1.4%*
	308,000	Kuraray Co. Ltd.		4,495,373
				59,722,243
	*Mexico — 1.0%*
	*Telecommunication Services — 1.0%*
	62,500	America Movil SA de CV., Series L ADR		3,367,500
	*Netherlands — 2.0%*
	*Energy — 1.2%*
	112,595	Royal Dutch Shell PLC, Class A		4,007,634
	*Industrials — 0.8%*
	95,000	Koninklijke (Royal) Philips Electronics NV NYS		2,439,600
				6,447,234
	*Republic of South Korea — 0.4%*
	*Materials — 0.4%*
	13,000	POSCO ADR		1,412,060
	*Singapore — 5.0%*
	*Financials — 1.8%*
	472,000	DBS Group Holdings Ltd.		5,633,412
	118,400	K-Green Trust		102,177
				5,735,589
	*Industrials — 2.0%*
	717,877	Keppel Corp Ltd.		6,475,680
	*Telecommunication Services — 1.2%*
	1,575,930	Singapore Telecommunications Ltd		4,054,334
				16,265,603
	*Spain — 2.8%*
	*Financials — 2.8%*
	519,066	Banco Bilbao Vizcaya Argentaria SA ADR		6,093,835
	252,000	Banco Santander SA ADR		2,900,520
				8,994,355
	*Sweden — 4.3%*
	*Consumer Discretionary — 1.5%*
	142,000	Hennes & Mauritz AB		4,895,855
	*Consumer Staples — 0.9%*
	195,000	Svenska Cellulosa AB (SCA)		2,745,068
	*Industrials — 1.9%*
	349,000	Volvo AB		6,096,383
				13,737,306

(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)*
	*Switzerland — 5.6%*
	*Financials — 1.6%*
	80,300	ACE Ltd.	$	5,285,346
	*Health Care — 2.1%*
	111,400	Novartis AG		6,823,382
	*Materials — 1.9%*
	91,100	Syngenta AG ADR		6,154,716
				18,263,444
	*Taiwan — 1.7%*
	*Information Technology — 1.7%*
	437,854	Taiwan Semiconductor Manufacturing Co. Ltd. ADR		5,521,339
	*United Kingdom — 16.4%*
	*Consumer Discretionary — 2.1%*
	364,000	Pearson, Inc.		6,869,357
	*Consumer Staples — 2.9%*
	49,981	Reckitt Benckiser Group PLC		2,759,121
	1,018,284	Tesco PLC		6,569,047
				9,328,168
	*Energy — 1.8%*
	259,000	BG Group PLC		5,877,012
	*Financials — 3.2%*
	1,150,000	Barclays PLC		4,732,689
	216,337	Standard Chartered PLC		5,686,592
				10,419,281
	*Health Care — 1.4%*
	103,850	GlaxoSmithKline PLC ADR		4,455,165
	*Industrials — 1.7%*
	544,000	Rolls-Royce Group PLC*		5,630,747
	*Telecommunication Services — 1.7%*
	2,006,000	Vodafone Group PLC		5,321,220


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*United Kingdom — (Continued)*
	*Utilities — 1.6%*
	231,100	Scottish & Southern Energy PLC	$	5,166,048
				53,066,998
	*United States — 1.4%*
	*Energy — 1.4%*
	51,352	Schlumberger Ltd.		4,436,813
	*Total Common Stocks (Cost $240,376,092)*			*294,901,573*
	*Exchange-Traded Funds — 3.4%*
	212,000	iShares MSCI Malaysia Index Fund		3,239,360
	66,900	iShares MSCI South Korea Index Fund		4,348,500
	157,691	iShares MSCI Taiwan Index Fund		2,393,749
	60,000	ProShares UltraShort Yen Fund*		907,800
	*Total Exchange-Traded Funds (Cost $7,883,056)*			*10,889,409*
	*Closed-End Fund — 0.9%*
	139,000	Morgan Stanley India Investment Fund, Inc.*		3,049,660
	*Total Closed-End Fund (Cost $2,450,197)*			*3,049,660*
	*Cash Equivalents — 4.1%*
	13,196,912	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		13,196,912
	*Total Cash Equivalents (Cost $13,196,912)*			*13,196,912*
	*Total Investments (Cost $263,906,257) — 99.6%*			*322,037,554*
	*Other Assets in Excess of Liabilities — 0.4%*			*1,264,218*
	*Net Assets — 100.0%*		$	*323,301,772*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2011.

*	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, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Cash¹		15.9%
Information Technology		15.1%
Energy		11.0%
Industrials		10.8%
Financials		10.0%
Health Care		9.8%
Consumer Staples		8.2%
Consumer Discretionary		8.1%
Materials		4.2%
Utilities		2.9%
Telecommunication Services		2.5%
Real Estate Investment Trusts		1.5%
*Total*		*100.0%*

¹	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


*Shares*			*Value*

	*Common Stocks — 83.9%*
	*Consumer Discretionary — 8.1%*
	1,500	AutoZone, Inc.*	$	442,275
	8,600	Johnson Controls, Inc.		358,276
	5,575	McDonald’s Corp.		470,084
	23,900	Newell Rubbermaid, Inc.		377,142
	7,085	Omnicom Group, Inc.		341,213
	3,000	Polo Ralph Lauren Corp.		397,830
	6,000	Scripps Networks Interactive, Inc., Class A		293,280
	6,100	Starwood Hotels & Resorts Worldwide, Inc.		341,844
	7,000	Target Corp.		328,370
	5,600	The TJX Cos., Inc.		294,168
	7,400	The Walt Disney Co.		288,896
	4,000	V.F. Corp.		434,240
				4,367,618
	*Consumer Staples — 8.2%*
	11,100	Avon Products, Inc.		310,800
	4,500	Colgate-Palmolive Co.		393,345
	20,600	Constellation Brands, Inc.*		428,892
	13,700	Kellogg Co.		757,884
	9,700	Kraft Foods, Inc.		341,731
	9,000	McCormick & Co., Inc.		446,130
	5,600	PepsiCo, Inc.		394,408
	7,600	Procter & Gamble Co.		483,132
	5,900	The Clorox Co.		397,896
	9,000	Wal-Mart Stores, Inc.		478,260
				4,432,478


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Energy — 11.0%*
	6,800	Apache Corp.	$	839,052
	6,269	Baker Hughes, Inc.		454,879
	10,600	ConocoPhillips		797,014
	15,300	Denbury Resources, Inc.*		306,000
	5,600	Devon Energy Corp.		441,336
	1,500	EOG Resources, Inc.		156,825
	8,157	Exxon Mobil Corp.		663,817
	8,000	Marathon Oil Corp.		421,440
	4,550	Occidental Petroleum Corp.		473,382
	7,600	Peabody Energy Corp.		447,716
	23,700	Rowan Cos., Inc.*		919,797
				5,921,258
	*Financials — 9.9%*
	10,000	Aflac, Inc.		466,800
	25,000	Bank of America Corp.		274,000
	30,000	Discover Financial Services		802,500
	19,200	JPMorgan Chase & Co.		786,048
	15,000	Lincoln National Corp.		427,350
	35,000	Regions Financial Corp.		217,000
	10,000	State Street Corp.		450,900
	8,400	The Allstate Corp.		256,452
	6,000	Torchmark Corp.		384,840
	25,000	U.S. Bancorp		637,750
	23,864	Wells Fargo & Co.		669,624
				5,373,264

(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)*
	*Health Care — 9.8%*
	10,000	Becton, Dickinson & Co.	$	861,700
	3,900	C.R. Bard, Inc.		428,454
	6,800	Johnson & Johnson		452,336
	8,600	McKesson Corp.		719,390
	7,900	Medtronic, Inc.		304,387
	22,500	Mylan Laboratories, Inc.*		555,075
	10,700	Patterson Cos., Inc.		351,923
	21,450	Pfizer, Inc.		441,870
	5,500	Stryker Corp.		322,795
	6,700	Thermo Fisher Scientific, Inc.*		431,413
	6,300	Zimmer Holdings, Inc.*		398,160
				5,267,503
	*Industrials — 10.8%*
	4,500	Cummins, Inc.		465,705
	3,300	Flowserve Corp.		362,637
	6,300	General Dynamics Corp.		469,476
	7,800	Illinois Tool Works, Inc.		440,622
	7,500	Jacobs Engineering Group, Inc.*		324,375
	3,800	Pall Corp.		213,674
	3,000	Parker Hannifin Corp.		269,220
	8,000	Stericycle, Inc.*		712,960
	8,800	Textron, Inc.		207,768
	7,000	Tyco International Ltd.		346,010
	5,400	Union Pacific Corp.		563,760
	6,000	United Parcel Service, Inc., Class B		437,580
	6,900	United Technologies Corp.		610,719
	2,600	W.W. Grainger, Inc.		399,490
				5,823,996
	*Information Technology — 15.1%*
	6,000	Akamai Technologies, Inc.*		188,820
	2,700	Apple, Inc.*		906,309
	9,900	BMC Software, Inc.*		541,530
	32,800	Cisco Systems, Inc.		512,008
	6,500	Cognizant Technology Solutions Corp., Class A*		476,710
	25,000	EMC Corp.*		688,750
	6,175	Fiserv, Inc.*		386,740
	1,075	Google, Inc., Class A*		544,358
	6,200	International Business Machines Corp.		1,063,610
	8,800	Intuit, Inc.*		456,368
	54,200	Jabil Circuit, Inc.		1,094,840
	26,250	Microsoft Corp.		682,500
	7,000	VeriSign, Inc.*		234,220
	39,092	Xerox Corp.		406,948
				8,183,711


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Materials — 4.2%*
	28,800	Ball Corp.	$	1,107,648
	4,500	Cliffs Natural Resources, Inc.		416,025
	16,000	The Dow Chemical Co.		576,000
	10,000	Titanium Metals Corp.		183,200
				2,282,873
	*Real Estate Investment Trusts — 1.5%*
	9,800	HCP, Inc.		359,562
	25,500	Host Hotels & Resorts, Inc.		432,225
				791,787
	*Telecommunication Services — 2.5%*
	15,000	AT&T, Inc.		471,150
	7,000	CenturyLink, Inc.		283,010
	16,050	Verizon Communications, Inc.		597,541
				1,351,701
	*Utilities — 2.8%*
	3,800	Consolidated Edison, Inc.		202,312
	4,900	Dominion Resources, Inc., Class A		236,523
	1,800	Entergy Corp.		122,904
	5,000	Integrys Energy Group, Inc.		259,200
	6,600	Pinnacle West Capital Corp.		294,228
	3,600	Progress Energy, Inc.		172,836
	8,000	Wisconsin Energy Corp.		250,800
				1,538,803
	*Total Common Stocks (Cost $35,794,920)*			*45,334,992*
	*Rights — 0.0%*
	*Health Care — 0.0%*
	3,300	Sanofi-Aventis, Expires 12/31/20*		7,953
	*Total Rights (Cost $7,656)*			*7,953*
	*Cash Equivalents — 16.0%*
	8,624,555	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		8,624,555
	*Total Cash Equivalents (Cost $8,624,555)*			*8,624,555*
	*Total Investments (Cost $44,427,131) — 99.9%*			*53,967,500*
	*Other Assets in Excess of Liabilities — 0.1%*			*51,846*
	*Net Assets — 100.0%*		$	*54,019,346*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2011.

*	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, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Information Technology		17.5%
Industrials		16.9%
Health Care		12.8%
Consumer Discretionary		10.0%
Financials		9.3%
Materials		7.3%
Energy		6.7%
Real Estate Investment Trusts		5.7%
Cash¹		5.2%
Consumer Staples		4.4%
Utilities		3.9%
Telecommunication Services		0.3%
*Total*		*100.0%*

¹	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


*Shares*			*Value*

	*Common Stocks — 94.8%*
	*Consumer Discretionary — 10.0%*				��
	7,120	Advance Auto Parts, Inc.	$	416,449
	25,340	Bob Evans Farms, Inc.		886,140
	22,400	BorgWarner, Inc.*		1,809,696
	15,980	Coinstar, Inc.*		871,549
	20,670	Guess?, Inc.		869,380
	20,800	Kohl’s Corp.		1,040,208
	19,500	Mohawk Industries, Inc.*		1,169,805
	40,000	Nordstrom, Inc.		1,877,600
	24,650	PetSmart, Inc.		1,118,370
	6,710	Polo Ralph Lauren Corp.		889,813
	15,540	Ross Stores, Inc.		1,245,065
	37,200	Royal Caribbean Cruises Ltd.*		1,400,208
	15,760	V.F. Corp.		1,710,906
	4,100	Whirlpool Corp.		333,412
	8,000	Wolverine World Wide, Inc.		334,000
				15,972,601
	*Consumer Staples — 4.4%*
	64,000	Church & Dwight Co., Inc.		2,594,560
	25,950	Constellation Brands, Inc.*		540,279
	16,860	Corn Products International, Inc.		932,021
	28,900	Dr. Pepper Snapple Group, Inc.		1,211,777
	21,160	Ruddick Corp.		921,306
	20,220	The Fresh Market, Inc.*		782,110
				6,982,053


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Energy — 6.7%*
	46,700	Chesapeake Energy Corp.	$	1,386,523
	18,620	CMS Energy Corp.		366,628
	20,650	Forest Oil Corp.*		551,561
	20,320	Helmerich & Payne, Inc.		1,343,558
	16,710	Murphy Oil Corp.		1,097,179
	31,200	Noble Energy, Inc.		2,796,456
	42,230	Oceaneering International, Inc.		1,710,315
	11,250	Unit Corp.*		685,462
	36,600	Weatherford International Ltd.*		686,250
				10,623,932
	*Financials — 9.3%*
	10,000	Allied World Assurance Co Holdings AG		575,800
	28,100	Cincinnati Financial Corp.		819,958
	26,900	City National Corp.		1,459,325
	4,310	Everest Re Group Ltd.		352,343
	34,430	First American Financial Corp.		538,829
	59,900	First Niagara Financial Group, Inc.		790,680
	22,470	Highwoods Properties, Inc.		744,431
	21,800	Invesco Ltd.		510,120
	9,800	Jones Lang LaSalle, Inc.		924,140
	20,000	Legg Mason, Inc.		655,200
	45,400	Principal Financial Group		1,381,068
	21,800	Prosperity Bancshares, Inc.		955,276
	22,240	T. Rowe Price Group, Inc.		1,341,962
	30,590	Torchmark Corp.		1,962,043
	27,390	Trustmark Corp.		641,200

(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)*
	16,070	Unum Group	$	409,464
	20,900	Waddell & Reed Financial, Inc.		759,715
				14,821,554
	*Health Care — 12.8%*
	60,000	AmerisourceBergen Corp.		2,484,000
	12,430	Biogen Idec, Inc.*		1,329,016
	18,775	Coventry Health Care, Inc.*		684,724
	49,600	Life Technologies Corp.*		2,582,672
	44,700	Lincare Holdings, Inc.		1,308,369
	33,300	Owens & Minor, Inc.		1,148,517
	16,000	Quest Diagnostics, Inc.		945,600
	32,490	St. Jude Medical, Inc.		1,549,123
	21,500	Teleflex, Inc.		1,312,790
	68,156	Thermo Fisher Scientific, Inc.*		4,388,565
	38,830	Watson Pharmaceutical, Inc.*		2,668,786
				20,402,162
	*Industrials — 16.9%*
	10,200	Alliant Techsystems, Inc.		727,566
	30,200	CNH Global NV NYS*		1,167,230
	47,200	Cooper Industries PLC		2,816,424
	14,400	Cummins, Inc.		1,490,256
	16,000	Elbit Systems Ltd.		764,160
	22,900	EMCOR Group, Inc.*		671,199
	3,320	Flowserve Corp.		364,835
	28,700	General Cable Corp.*		1,222,046
	53,400	John Bean Technologies Corp.		1,031,688
	54,000	Kennametal, Inc.		2,279,340
	39,000	L-3 Communications Holdings, Inc.		3,410,550
	25,800	Pall Corp.		1,450,734
	23,400	Parker Hannifin Corp.		2,099,916
	10,100	Precision Castparts Corp.		1,662,965
	20,000	Quanex Building Products Corp.		327,800
	3,000	Rockwell International Corp.		260,280
	21,000	Ryder System, Inc.		1,193,850
	30,500	Thomas & Betts Corp.*		1,642,425
	10,000	UniFirst Corp.		561,900
	25,150	Watsco, Inc.		1,709,948
				26,855,112
	*Information Technology — 17.5%*
	11,000	Amdocs Ltd.*		334,290
	111,660	Amkor Technology, Inc.*		688,942
	22,135	Benchmark Electronics, Inc.*		365,228
	19,170	BMC Software, Inc.*		1,048,599
	24,200	Broadcom Corp., Class A*		814,088
	40,580	Citrix Systems, Inc.*		3,246,400
	53,400	CTS Corp.		516,378
	8,000	Cymer, Inc.*		396,080
	32,866	Fidelity National Information Services, Inc.		1,011,944
	14,100	Fiserv, Inc.*		883,083
	28,430	FLIR Systems, Inc.		958,375
	40,000	Forrester Research, Inc.*		1,318,400
	33,000	Harris Corp.		1,486,980


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Information Technology — (Continued)*
	17,580	InterDigital, Inc.*	$	718,143
	27,560	j2 Global Communications, Inc.*		778,019
	29,000	JDA Software Group, Inc.*		895,810
	25,700	Molex, Inc.		662,289
	15,300	Multi-Fineline Electronix, Inc.*		330,633
	30,800	NCR Corp.*		581,812
	49,600	NVIDIA Corp.*		790,376
	112,100	ON Semiconductor Corp.*		1,173,687
	25,800	Progress Software Corp.*		622,554
	17,360	SanDisk Corp.*		720,440
	31,600	Synopsys, Inc.*		812,436
	20,600	Syntel, Inc.		1,217,872
	50,280	Teradata Corp.*		3,026,856
	17,100	Veeco Instruments, Inc.*		827,811
	110,300	Vishay Intertechnology, Inc.*		1,658,912
				27,886,437
	*Materials — 7.3%*
	16,800	Albemarle Corp.		1,162,560
	7,152	Allegheny Technologies, Inc.		453,937
	18,100	AptarGroup, Inc.		947,354
	26,350	Arch Coal, Inc.		702,491
	12,000	Ball Corp.		461,520
	18,170	Cia de Minas Buenaventura SA		690,097
	29,300	Cytec Industries, Inc.		1,675,667
	27,000	FMC Corp.		2,322,540
	14,000	Innophos Holdings, Inc.		683,200
	12,280	PPG Industries, Inc.		1,114,901
	6,000	Schnitzer Steel Industries, Inc.		345,600
	9,500	Silver Wheaton Corp.		313,500
	20,000	Sonoco Products Co.		710,800
				11,584,167
	*Real Estate Investment Trusts — 5.7%*
	14,450	Alexandria Real Estate Equities, Inc.		1,118,719
	17,500	Entertainment Properties Trust		817,250
	9,300	Federal Realty Investment Trust		792,174
	12,200	Home Properties, Inc.		742,736
	28,334	Host Hotels & Resorts, Inc.		480,261
	12,210	Liberty Property Trust		397,802
	21,510	Mack-Cali Realty Corp.		708,539
	13,360	Mid-America Apartment Communities, Inc.		901,399
	16,690	PS Business Parks, Inc.		919,619
	15,200	Rayonier, Inc.		993,320
	18,260	Sovran Self Storage, Inc.		748,660
	9,700	Ventas, Inc.		511,287
				9,131,766
	*Telecommunication Services — 0.3%*
	9,000	TELUS Corp.		473,400
	*Utilities — 3.9%*
	12,000	AGL Resources, Inc.		488,520
	6,980	DTE Energy Co.		349,140
	60,750	MDU Resources Group, Inc.		1,366,875
	13,950	National Fuel Gas Co.		1,015,560

(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)*
	*Utilities — (Continued)*
	14,250	New Jersey Resources Corp.	$	635,692
	33,700	Portland General Electric Co.		851,936
	63,000	Questar Corp.		1,115,730
	12,640	Xcel Energy, Inc.		307,152
				6,130,605
	*Total Common Stocks (Cost $84,879,737)*			*150,863,789*
	*Cash Equivalents — 5.2%*
	8,362,257	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		8,362,257
	*Total Cash Equivalents (Cost $8,362,257)*			*8,362,257*
	*Total Investments (Cost $93,241,994) — 100.0%*			*159,226,046*
	*Liabilities in Excess of Other Assets — (0.0)%*			*(77,962)*
	*Net Assets — 100.0%*		$	*159,148,084*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2011.

*	Non-income producing security.

NYS — New York Shares.

LP — Limited Partnership.

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

Semi-Annual Shareholder Report



*Huntington New Economy Fund*		June 30, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Information Technology		28.7%
Health Care		16.1%
Industrials		13.6%
Consumer Discretionary		11.5%
Materials		6.5%
Consumer Staples		5.9%
Financials		5.5%
Cash¹		5.0%
Energy		4.0%
Utilities		1.5%
Real Estate Investment Trusts		1.2%
Options Purchased		0.5%
*Total*		*100.0%*

¹	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


*Shares*			*Value*

	*Common Stocks — 96.4%*
	*Consumer Discretionary — 11.7%*
	25,400	Ascena Retail Group, Inc.*	$	864,870
	28,900	Bally Technologies, Inc.*		1,175,652
	27,900	Best Buy Co., Inc.		876,339
	13,500	Dollar Tree, Inc.*		899,370
	7,800	Fossil, Inc.*		918,216
	23,600	The Buckle, Inc.		1,007,720
	6,800	Tractor Supply Co.		454,784
				6,196,951
	*Consumer Staples — 6.1%*
	6,300	Corn Products International, Inc.		348,264
	13,300	Diamond Foods, Inc.		1,015,322
	10,600	Green Mountain Coffee Roasters, Inc.*		946,156
	11,100	Hansen Natural Corp.*		898,545
				3,208,287
	*Energy — 4.1%*
	13,400	Consol Energy, Inc.		649,632
	20,800	EnCana Corp.		640,432
	27,000	Frontier Oil Corp.		872,370
				2,162,434
	*Financials — 5.6%*
	16,000	MetLife, Inc.		701,920
	31,600	Montpelier Re Holdings Ltd.		568,800
	26,000	MSCI, Inc., Class A*		979,680
	23,300	The Allstate Corp.		711,349
				2,961,749


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Health Care — 16.4%*
	11,450	Abbott Laboratories	$	602,499
	14,900	Celgene Corp. (a)*		898,768
	22,500	Cepheid, Inc.*		779,400
	29,600	Endo Pharmaceuticals Holdings, Inc.*		1,189,032
	38,500	Hologic, Inc.*		776,545
	16,500	Integra LifeSciences Holdings Corp.*		788,865
	35,500	Mylan Laboratories, Inc.*		875,785
	10,100	Perrigo Co. (a)		887,487
	35,500	ResMed, Inc.*		1,098,725
	15,400	Valeant Pharmaceuticals International, Inc.*		800,184
				8,697,290
	*Industrials — 13.9%*
	383,700	Capstone Turbine Corp.*		587,061
	8,800	Flowserve Corp.		967,032
	42,600	Greenbrier Cos., Inc.*		841,776
	13,500	Lindsay Corp.		928,800
	35,100	Manitowoc Co., Inc.		591,084
	11,600	Nordson Corp.		636,260
	19,400	Robbins & Myers, Inc.		1,025,290
	10,700	Rockwell International Corp.		928,332
	34,100	Westport Innovations, Inc.*		819,082
				7,324,717
	*Information Technology — 29.3%*
	19,000	Akamai Technologies, Inc.*		597,930
	6,000	Baidu, Inc. ADR*		840,780
	21,200	BMC Software, Inc.*		1,159,640

(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)*
	*Information Technology — (Continued)*
	28,800	Cognex Corp.	$	1,020,384
	27,900	Cree, Inc.*		937,161
	8,000	F5 Networks, Inc.*		882,000
	7,000	First Solar, Inc.*		925,890
	84,300	GT Solar International, Inc.*		1,365,660
	77,100	MEMC Electronic Materials, Inc.*		657,663
	17,900	NetApp, Inc.*		944,762
	38,900	NVIDIA Corp.*		619,872
	32,400	RealD, Inc.*		757,836
	25,000	Riverbed Technology, Inc.*		989,750
	5,900	Salesforce.com, Inc.*		878,982
	73,500	Shanda Games Ltd. ADR*		479,220
	7,100	Sina Corp./China*		739,110
	26,200	TIBCO Software, Inc.*		760,324
	25,700	Western Digital Corp.*		934,966
				15,491,930
	*Materials — 6.6%*
	84,000	American Vanguard Corp.		1,089,480
	16,000	LSB Industries, Inc.*		686,720
	11,100	Potash Corporation of Saskatchewan, Inc.		632,589
	58,500	Titanium Metals Corp.		1,071,720
				3,480,509
	*Real Estate Investment Trusts — 1.2%*
	12,000	Ventas, Inc.		632,520
	*Utilities — 1.5%*
	10,300	Alliant Energy Corp.		418,798
	5,500	National Fuel Gas Co.		400,400
				819,198
	*Total Common Stocks (Cost $50,388,489)*			*50,975,585*


Contracts or Shares			*Value*

	*Options Purchased — 0.6%*
	2,000	iPath S&P 500 VIX Mid-Term Futures ETN, Call @ $23, Expiring July 2011	$	98,000
	2,000	iPath S&P 500 VIX Short-Term Futures ETN, Call @ $21, Expiring July 2011		196,000
	*Total Options Purchased (Cost $893,092)*			*294,000*
	*Cash Equivalents — 5.0%*
	2,661,984	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)		2,661,984
	*Total Cash Equivalents (Cost $2,661,984)*			*2,661,984*
	*Total Investments (Cost $53,943,565) — 102.0%*			*53,931,569*
	*Liabilities in Excess of Other Assets — (2.0)%*			*(1,071,822)*
	*Net Assets — 100.0%*		$	*52,859,747*

(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, 2011.

*	Non-income producing security.

ADR — American Depositary Receipt.

ETN

— Exchange-Traded Note

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

Semi-Annual Shareholder Report



*Huntington Real Strategies Fund*		June 30, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Energy		33.7%
Materials		22.2%
Industrials		14.3%
Cash¹		9.8%
Real Estate Investment Trusts		7.6%
Exchange-Traded Funds		5.6%
Financials		2.4%
Closed-End Fund		1.9%
Consumer Staples		1.9%
Options Purchased		0.6%
*Total*		*100.0%*

¹	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


*Shares*			*Value*

	*Common Stocks — 85.9%*
	*Consumer Staples — 2.0%*
	32,000	Bunge Ltd	$	2,206,399
	*Energy — 35.6%*
	61,900	Cameco Corp.		1,631,065
	43,700	Canadian Natural Resources Ltd.		1,829,282
	70,700	Canadian Oil Sands Ltd.		2,042,523
	60,600	Chesapeake Energy Corp.		1,799,214
	56,800	Consol Energy, Inc.		2,753,664
	87,500	El Paso Corp.		1,767,500
	42,600	Enterprise Products Partners LP		1,840,746
	52,800	Hugoton Royalty Trust		1,200,672
	43,500	Linn Energy LLC		1,699,545
	24,400	National Oilwell Varco, Inc.		1,908,324
	61,000	Natural Resource Partners LP		2,023,370
	28,000	Noble Corp.		1,103,480
	22,700	Peabody Energy Corp.		1,337,257
	58,600	Penn Virginia Resource Partners LP		1,578,684
	68,400	Petrohawk Energy Corp.*		1,687,428
	47,300	Petroleo Brasileiro S.A. ADR		1,601,578
	41,100	Sasol Ltd. ADR		2,173,779
	13,900	Schlumberger Ltd.		1,200,960
	64,900	Spectra Energy Corp.		1,778,909
	40,646	StatoilHydro ASA ADR		1,034,441
	44,200	Teekay Corp.		1,364,896
	558,200	Uranium Energy Corp.*		1,708,092
	89,000	Valero Energy Corp.		2,275,730
				39,341,139
	*Financials — 1.7%*
	82,700	Weyerhaeuser Co.		1,807,822


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Industrials — 15.1%*
	45,100	AGCO Corp.*	$	2,226,136
	49,500	Chicago Bridge & Iron Co NV		1,925,550
	47,600	Deere & Co.		3,924,620
	39,000	Harsco Corp.		1,271,400
	28,200	Lindsay Corp.		1,940,160
	97,900	Manitowoc Co., Inc.		1,648,636
	36,200	Robbins & Myers, Inc.		1,913,170
	19,400	Valmont Industries, Inc.		1,869,966
				16,719,638
	*Materials — 23.5%*
	20,970	Agrium, Inc.		1,840,327
	14,800	BHP Billiton Ltd. ADR		1,400,524
	47,200	Cia de Minas Buenaventura SA ADR		1,792,656
	98,000	Olin Corp.		2,220,680
	57,700	Pan American Silver Corp		1,782,353
	33,360	Potash Corporation of Saskatchewan, Inc.		1,901,187
	13,800	Praxair, Inc.		1,495,782
	33,450	Rio Tinto PLC ADR		2,419,104
	33,400	Sociedad Quimica y Minera de Chile SA ADR		2,161,648
	68,000	Southern Copper Corp.		2,235,160
	10,700	Terra Nitrogen Co. LP		1,471,357
	57,200	Vale SA ADR		1,827,540
	13,700	Walter Energy, Inc.		1,586,460
	32,000	Yara International ASA ADR		1,813,760
				25,948,538
	*Real Estate Investment Trusts — 8.0%*
	13,381	AvalonBay Communities, Inc.		1,718,120
	126,800	Duke Realty Corp.		1,776,468

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

Semi-Annual Shareholder Report


*Huntington Real Strategies Fund*		(Continued)


Shares, Principal Amount, or Contracts			*Value*

	*Common Stocks — (Continued)*
	*Real Estate Investment Trusts — (Continued)*
	44,900	Plum Creek Timber Co., Inc.	$	1,820,246
	27,700	Rayonier, Inc.		1,810,195
	18,806	Vornado Realty Trust		1,752,343
				8,877,372
	*Total Common Stocks (Cost $83,125,468)*			*94,900,908*
	*Corporate Bonds — 0.9%*
	*Financials — 0.9%*
$	750,000	Credit Suisse Securities USA LLC, 0.000%, 3/26/13 (a)		934,500
	*Total Corporate Bonds (Cost $750,000)*			*934,500*
	*Exchange-Traded Funds — 5.9%*
	12,100	Oil Services HOLDRs Trust		1,839,200
	54,500	PowerShares DB Agriculture Fund*		1,729,830
	140,000	PowerShares DB US Dollar Index Bullish Fund*		2,972,200
	*Total Exchange-Traded Funds (Cost $6,872,809)*			*6,541,230*
	*Closed-End Fund — 2.0%*
	108,891	Central Fund of Canada Ltd., Class A		2,218,110
	*Total Closed-End Fund (Cost $1,269,719)*			*2,218,110*
	*Options Purchased — 0.6%*
	250	Diamond Offshore, Call @ $79, Expiring January 2012		73,000
	450	iPath S&P 500 VIX Mid Term Futures ETN, Call @ $65, Expiring January 2012		97,875
	450	iPath S&P 500 VIX Mid Term Futures ETN, Put @ $55, Expiring January 2012		360,000
	350	Market Vectors Gold Miners ETF, Call @ $55, Expiring January 2012		159,250
	*Total Options Purchased (Cost $1,109,028)*			*690,125*


*Shares*			*Value*

	*Cash Equivalents — 10.3%*
	11,414,160	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)	$	11,414,160
	*Total Cash Equivalents (Cost $11,414,160)*			*11,414,160*
	*Total Investments (Cost $104,541,184) — 105.6%*			*116,699,033*
	*Liabilities in Excess of Other Assets — (5.6)%*			*(6,199,511)*
	*Net Assets — 100.0%*		$	*110,499,522*

(a)

Zero coupon capital appreciation bond.

(b)

Investment in affiliate.

(c)

Rate disclosed is the seven day yield as of June 30, 2011.

*	Non-income producing security.

ADR — American Depositary Receipt.

ETF — Exchange-Traded Fund

ETN — Exchange-Traded Note

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, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Industrials		22.4%
Information Technology		15.9%
Consumer Staples		12.7%
Energy		10.8%
Financials		9.4%
Consumer Discretionary		9.2%
Health Care		7.1%
Materials		4.1%
Telecommunication Services		4.0%
Exchange-Traded Fund		3.0%
Cash¹		1.4%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


*Shares*			*Value*

	*Common Stocks — 95.5%*
	*Consumer Discretionary — 9.2%*
	23,061	Home Depot, Inc.	$	835,269
	23,875	McDonald’s Corp.		2,013,140
	24,250	The Walt Disney Co.		946,720
				3,795,129
	*Consumer Staples — 12.7%*
	23,926	Kraft Foods, Inc.		842,913
	23,843	Procter & Gamble Co.		1,515,700
	24,076	The Coca-Cola Co.		1,620,074
	23,953	Wal-Mart Stores, Inc.		1,272,862
				5,251,549
	*Energy — 10.7%*
	24,024	Chevron Texaco Corp.		2,470,628
	24,140	Exxon Mobil Corp.		1,964,513
				4,435,141
	*Financials — 9.4%*
	24,145	American Express Co.		1,248,297
	23,947	Bank of America Corp.		262,459
	24,022	JPMorgan Chase & Co.		983,461
	24,017	The Travelers Cos., Inc.		1,402,113
				3,896,330
	*Health Care — 7.1%*
	23,844	Johnson & Johnson		1,586,103
	23,883	Merck & Co., Inc.		842,831
	24,096	Pfizer, Inc.		496,378
				2,925,312


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Industrials — 22.4%*
	23,997	3M Co.	$	2,276,115
	24,250	Caterpillar, Inc.		2,581,655
	24,149	General Electric Co.		455,450
	24,118	The Boeing Co.		1,783,044
	24,188	United Technologies Corp.		2,140,880
				9,237,144
	*Information Technology — 15.9%*
	24,414	Cisco Systems, Inc.		381,103
	24,357	Hewlett-Packard Co.		886,595
	23,881	Intel Corp.		529,203
	24,148	International Business Machines Corp.		4,142,589
	23,792	Microsoft Corp.		618,592
				6,558,082
	*Materials — 4.1%*
	24,235	Alcoa, Inc.		384,367
	24,100	Du Pont (E.I.) de Nemours & Co.		1,302,605
				1,686,972
	*Telecommunication Services — 4.0%*
	23,800	AT&T, Inc.		747,558
	23,897	Verizon Communications, Inc.		889,685
				1,637,243
	*Total Common Stocks (Cost $31,929,213)*			*39,422,902*

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

Semi-Annual Shareholder Report


*Huntington Rotating Markets Fund*		(Continued)


*Shares*			*Value*

	*Exchange-Traded Fund — 3.0%*
	10,047	SPDR Dow Jones Industrial Average ETF Trust	$	1,244,120
	*Total Exchange-Traded Fund (Cost $1,008,863)*			*1,244,120*
	*Cash Equivalents — 1.4%*
	566,313	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		566,313
	*Total Cash Equivalents (Cost $566,313)*			*566,313*
	*Total Investments (Cost $33,504,389) — 99.9%*			*41,233,335*
	*Other Assets in Excess of Liabilities — 0.1%*			*25,184*
	*Net Assets — 100.0%*		$	*41,258,519*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2011.

ETF — Exchange-Traded Fund

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

Semi-Annual Shareholder Report



*Huntington Situs Fund*		June 30, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Industrials		16.6%
Energy		15.2%
Health Care		14.9%
Consumer Discretionary		11.7%
Information Technology		11.4%
Materials		9.7%
Financials		8.3%
Cash¹		4.1%
Consumer Staples		2.9%
Exchange-Traded Funds		1.8%
Utilities		1.8%
Real Estate Investment Trusts		1.1%
Closed-End Fund		0.3%
Telecommunication Services		0.2%
*Total*		*100.0%*

1	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


*Shares*			*Value*

	*Common Stocks — 94.0%*
	*Bermuda — 1.3%*
	*Financials — 1.3%*
	90,000	Arch Capital Group Ltd.*	$	2,872,800
	*Brazil — 0.8%*
	*Consumer Discretionary — 0.8%*
	38,200	Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR		1,793,490
	*Canada — 0.0%*
	*Energy — 0.0%*
	35,000	Denison Mines Corp.*		67,200
	*Chile — 0.7%*
	*Materials — 0.7%*
	24,000	Sociedad Quimica y Minera de Chile SA ADR		1,553,280
	*China — 0.3%*
	*Consumer Discretionary — 0.3%*
	17,500	Shanda Interactive Entertainment Ltd. ADR*		679,175
	*Denmark — 1.0%*
	*Energy — 0.2%*
	18,900	Vestas Wind Systems A/S*		439,108


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Denmark — (Continued)*
	*Health Care — 0.8%*
	10,500	Novozymes A/S , Class B	$	1,708,661
				2,147,769
	*Germany — 0.7%*
	*Health Care — 0.7%*
	35,500	Stada Arzneimittel AG		1,390,037
	*Hong Kong — 0.5%*
	*Consumer Discretionary — 0.5%*
	162,500	Television Broadcasts Ltd.		1,073,352
	*Japan — 1.6%*
	*Consumer Discretionary — 0.6%*
	31,400	Honda Motor Co. Ltd. ADR		1,212,354
	*Consumer Staples — 0.3%*
	38,300	Shiseido Co. Ltd.		713,145
	*Financials — 0.2%*
	70	Japan Prime Realty Investment Corp.		185,206
	20	Japan Real Estate Investment Corp.		196,510
				381,716
	*Health Care — 0.5%*
	20,600	Terumo Corp.		1,109,260
				3,416,475

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

Semi-Annual Shareholder Report


*Huntington Situs Fund*		(Continued)


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Mexico — 0.3%*
	*Consumer Discretionary — 0.3%*
	27,400	Desarrolladora Homex S.A.B. de C.V. ADR*	$	691,302
	*Singapore — 0.8%*
	*Consumer Staples — 0.8%*
	74,000	Asia Pacific Breweries Ltd.		1,747,130
	*South Africa — 0.6%*
	*Materials — 0.6%*
	100,032	Harmony Gold Mining Co. Ltd. ADR		1,322,423
	*Sweden — 0.6%*
	*Consumer Discretionary — 0.6%*
	233,600	Haldex AB		1,248,171
	*Switzerland — 0.6%*
	*Consumer Discretionary — 0.6%*
	40,000	Garmin Ltd.		1,321,200
	*United Kingdom — 0.8%*
	*Consumer Staples — 0.4%*
	16,000	Reckitt Benckiser Group PLC		883,254
	*Industrials — 0.4%*
	116,800	Concentric AB*		808,726
				1,691,980
	*United States — 83.4%*
	*Consumer Discretionary — 8.0%*
	200,000	Cabela’s, Inc., Class A*		5,430,000
	13,500	Columbia Sportswear Co.		855,900
	2,050	Fossil, Inc.*		241,326
	50,000	Jakks Pacific, Inc.*		920,500
	40,000	Papa John’s International, Inc.*		1,330,400
	10,000	Polo Ralph Lauren Corp.		1,326,100
	23,850	Rent-A-Center, Inc.		728,856
	310,000	Sonic Corp.*		3,295,300
	30,000	Sturm Ruger & Co., Inc.		658,500
	97,000	Urban Outfitters, Inc.*		2,730,550
				17,517,432
	*Consumer Staples — 1.4%*
	12,000	Darling International, Inc.*		212,400
	80,000	Fresh Del Monte Produce, Inc.		2,133,600
	15,000	Sanderson Farms, Inc.		716,700
				3,062,700
	*Energy — 15.0%*
	50,000	Alliance Resource Partners LP		3,872,500
	20,000	Amyris, Inc.*		561,800
	20,000	Atwood Oceanics, Inc.*		882,600
	36,000	Carbo Ceramics, Inc.		5,866,200
	135,400	Denbury Resources, Inc.*		2,708,000
	15,000	Dril-Quip, Inc.*		1,017,450
	10,000	Georesources, Inc.*		224,900
	56,000	Lufkin Industries, Inc.		4,818,800


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*United States — (Continued)*
	*Energy — (Continued)*
	40,000	Newfield Exploration Co.*	$	2,720,800
	34,600	Oceaneering International, Inc.		1,401,300	��
	15,000	Overseas Shipholding Group, Inc.		404,100
	60,000	OYO Geospace Corp.*		6,000,000
	20,000	SM Energy Co.		1,469,600
	23,000	Swift Energy Co.*		857,210
				32,805,260
	*Financials — 6.8%*
	62,300	Cullen/Frost Bankers, Inc.		3,541,755
	90,000	Equity One, Inc.		1,677,600
	8,000	Ezcorp, Inc.*		284,600
	110,000	International Bancshares Corp.		1,840,300
	150,000	Raymond James Financial, Inc.		4,822,500
	70,383	SCBT Financial Corp.		2,018,584
	13,800	WSFS Financial Corp.		547,170
				14,732,509
	*Health Care — 13.1%*
	150,000	Albany Molecular Research, Inc.*		721,500
	10,000	Amsurg, Corp.*		261,300
	15,000	Bio-Rad Laboratories, Inc., Class A*		1,790,400
	80,000	Cerner Corp.*		4,888,800
	20,000	Codexis, Inc.*		192,600
	60,000	Edwards LifeSciences Corp.*		5,230,800
	10,000	Healthways, Inc.*		151,800
	40,000	Kindred Healthcare, Inc.*		858,800
	86,000	Kinetic Concepts, Inc.*		4,956,180
	100,000	Lincare Holdings, Inc.		2,927,000
	20,000	Myriad Genetics, Inc.*		454,200
	75,000	Osiris Therapeutics, Inc.*		580,500
	11,000	PSS World Medical, Inc.*		308,110
	75,000	Watson Pharmaceutical, Inc.*		5,154,750
				28,476,740
	*Industrials — 16.2%*
	50,000	BE Aerospace, Inc.*		2,040,500
	100,000	EnPro Industries, Inc.*		4,807,000
	30,000	Flowserve Corp.		3,296,700
	120,000	Harsco Corp.		3,912,000
	250,000	Jabil Circuit, Inc.		5,050,000
	10,000	Mine Safety Appliances Co.		373,400
	120,000	Quanta Services, Inc.*		2,424,000
	40,000	Ryder System, Inc.		2,274,000
	140,000	Southwest Airlines Co.		1,598,800
	50,000	Taser International, Inc.*		227,500
	150,000	Trinity Industries, Inc.		5,232,000
	50,000	Universal Forest Products, Inc.		1,198,000
	80,000	Watts Water Technologies, Inc., Class A		2,832,800
	3,750	Werner Enterprises, Inc.		93,937
				35,360,637
	*Information Technology — 11.4%*
	52,900	ACI Worldwide, Inc.*		1,786,433
	30,000	American Superconductor Corp.*		271,200
	70,000	Anixter International, Inc.*		4,573,800
	5,000	Cardtronics, Inc.*		117,250

(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)*
	*Information Technology — (Continued)*
	55,000	Diodes, Inc.*	$	1,435,500
	50,000	Exlservice Holdings, Inc.*		1,155,000
	80,600	Methode Electronics, Inc.		935,766
	100,000	Red Hat, Inc.*		4,590,000
	30,000	Scansource, Inc.*		1,124,400
	200,000	Sigma Designs, Inc.*		1,528,000
	80,900	Standard Microsystems Corp.*		2,183,491
	120,000	Trimble Navigation Ltd.*		4,756,800
	20,000	TriQuint Semiconductor, Inc.*		203,800
	10,000	Tyler Technologies, Inc.*		267,800
				24,929,240
	*Materials — 8.4%*
	5,000	Albemarle Corp.		346,000
	10,000	Buckeye Technologies, Inc.		269,800
	50,400	Eagle Materials, Inc.		1,404,648
	100	Eastman Chemical Co.		10,207
	100,000	Owens-Illinois, Inc.*		2,581,000
	100,000	Quaker Chemical Corp.		4,301,000
	40,000	RTI International Metals, Inc.*		1,534,800
	30,000	Scotts Miracle-Gro Co., Class A		1,539,300
	5,000	Sensient Technologies Corp.		185,350
	10,000	Terra Nitrogen Co. LP		1,375,100
	65,000	Texas Industries, Inc.		2,705,950
	50,000	United States Lime & Minerals, Inc.*		2,050,500
				18,303,655
	*Real Estate Investment Trusts — 1.1%*
	31,500	Camden Property Trust		2,004,030
	20,000	Weingarten Realty Investors		503,200
				2,507,230
	*Telecommunication Services — 0.2%*
	39,000	General Communication, Inc., Class A*		470,730


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*United States — (Continued)*
	*Utilities — 1.8%*
	15,000	AGL Resources, Inc.	$	610,650
	39,900	Hawaiian Electric Industries, Inc.		959,994
	13,100	Northwest Natural Gas Co.		591,203
	60,000	Portland General Electric Co.		1,516,800
	5,500	UGI Corp.		175,395
				3,854,042
				182,020,175
	*Total Common Stocks (Cost $136,879,433)*			*205,035,959*
	*Closed-End Fund — 0.3%*
	30,000	Central Fund of Canada Ltd., Class A		611,100
	*Total Closed-End Fund (Cost $419,116)*			*611,100*
	*Exchange-Traded Funds — 1.8%*
	25,000	iShares FTSE China 25 Index Fund		1,073,750
	54,555	SPDR S&P Emerging Markets SmallCap ETF		2,964,520
	*Total Exchange-Traded Funds (Cost $3,699,680)*			*4,038,270*
	*Cash Equivalents — 4.1%*
	9,028,131	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		9,028,131
	*Total Cash Equivalents (Cost $9,028,131)*			*9,028,131*
	*Total Investments (Cost $150,026,360) — 100.2%*			*218,713,460*
	*Liabilities in Excess of Other Assets — (0.2)%*			*(157,028)*
	*Net Assets — 100.0%*		$	*218,556,432*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2011.

*	Non-income producing security.

ADR — American Depositary Receipt

ETF — Exchange-Traded Fund

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, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Exchange-Traded Funds		34.6%
Health Care		12.9%
Consumer Discretionary		10.8%
Materials		8.6%
Energy		8.0%
Consumer Staples		6.9%
Information Technology		4.5%
Cash¹		4.5%
Telecommunication Services		3.2%
Closed-End Fund		3.1%
Industrials		1.6%
Financials		1.3%
*Total*		*100.0%*

¹	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


*Shares*			*Value*

	*Common Stocks — 57.5%*
	*Consumer Discretionary — 10.8%*
	1,155	Amazon.com, Inc.*	$	236,186
	5,800	Brunswick Corp.		118,320
	865	Chipotle Mexican Grill, Inc.*		266,584
	4,400	Home Depot, Inc.		159,368
	6,000	Honda Motor Co. Ltd. ADR		231,660
	2,580	Ross Stores, Inc.		206,710
				1,218,828
	*Consumer Staples — 6.9%*
	13,000	BRF - Brasil Foods SA ADR		225,290
	4,750	Casey’s General Stores, Inc.		209,000
	8,570	Tate & Lyle PLC ADR		343,228
				777,518
	*Energy — 7.9%*
	1,700	Chevron Texaco Corp.		174,828
	3,065	Ensco PLC ADR		163,364
	1,150	PetroChina Co. Ltd. ADR		167,934
	3,350	Tenaris SA ADR		153,195
	5,200	YPF SA ADR		234,260
				893,581
	*Financials — 1.3%*
	3,550	JPMorgan Chase & Co.		145,337
	*Health Care — 12.8%*
	3,320	Cerner Corp.*		202,885
	3,240	Edwards LifeSciences Corp.*		282,463
	2,800	Express Scripts, Inc.*		151,144
	16,500	Gentium SpA ADR*		163,185


*Shares*			*Value*

	*Common Stocks — (Continued)*
	*Health Care — (Continued)*
	6,500	H Lundbeck A/S ADR	$	170,625
	4,000	Medtronic, Inc.		154,120
	1,350	Novo-Nordisk A/S ADR		169,128
	15,800	Trinity Biotech PLC ADR		157,052
				1,450,602
	*Industrials — 1.6%*
	2,000	United Technologies Corp.		177,020
	*Information Technology — 4.5%*
	355	Apple, Inc.*		119,163
	915	Baidu, Inc. ADR*		128,219
	3,200	NICE Systems Ltd. ADR*		116,352
	5,200	Tencent Holdings Ltd.		141,131
				504,865
	*Materials — 8.5%*
	54,000	Anhui Conch Cement Co. Ltd.		252,593
	2,620	Carpenter Technology Corp.		151,122
	2,000	Syngenta AG ADR		135,120
	2,315	Terra Nitrogen Co. LP		318,336
	1,300	The Sherwin-Williams Co.		109,031
				966,202
	*Telecommunication Services — 3.2%*
	9,150	NTT DoCoMo, Inc. ADR		163,876
	11,750	Telefonos de Mexico SAB de CV ADR		193,875
				357,751
	*Total Common Stocks (Cost $6,163,913)*			*6,491,704*

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

Semi-Annual Shareholder Report


*Huntington Technical Opportunities Fund*		(Continued)


*Shares*			*Value*

	*Exchange-Traded Funds — 34.5%*
	4,780	iShares MSCI Austria Investable Market Index Fund	$	108,793
	6,130	iShares S&P Global Consumer Discretionary Sector Index Fund		348,342
	6,000	iShares S&P MidCap 400 Value Index Fund		504,300
	8,400	iShares S&P SmallCap 600 Index Fund		615,888
	7,900	ProShares Short S&P 500 Fund*		323,189
	2,765	SPDR Dow Jones Industrial Average ETF Trust		342,390
	9,272	SPDR S&P MidCap 400 ETF Trust		1,644,853
	*Total Exchange-Traded Funds (Cost $3,857,998)*			*3,887,755*
	*Closed-End Fund — 3.1%*
	19,465	The New Germany Fund, Inc.		351,149
	*Total Closed-End Fund (Cost $314,311)*			*351,149*
	*Cash Equivalents — 4.5%*
	504,193	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		504,193
	*Total Cash Equivalents (Cost $504,193)*			*504,193*
	*Total Investments (Cost $10,840,415) — 99.6%*			*11,234,801*
	*Other Assets in Excess of Liabilities — 0.4%*			*40,207*
	*Net Assets — 100.0%*		$	*11,275,008*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2011.

*	Non-income producing security.

ADR — American Depositary Receipt

ETF — Exchange-Traded Fund

PLC — Public Liability Co.

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

Semi-Annual Shareholder Report



*Huntington Fixed Income Securities Fund*		June 30, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Corporate Bonds		64.0%
U.S. Government Agencies		19.5%
U.S. Treasury Obligations		12.9%
Cash¹		1.8%
U.S. Government Mortgage Backed Securities		1.8%
*Total*		*100.0%*

¹	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


Principal Amount			*Value*

	*Corporate Bonds — 64.5%*
	*Consumer Discretionary — 3.6%*
$	2,000,000	Comcast Corp., Class A, 6.500%, 1/15/17	$	2,331,016
	2,000,000	Mattel, Inc., 6.200%, 10/1/40		2,035,422
	1,500,000	The Walt Disney Co., Series B, MTN, 6.200%, 6/20/14		1,711,296
	4,000,000	Time Warner, Inc., 3.150%, 7/15/15		4,136,692
				10,214,426
	*Consumer Staples — 4.0%*
	1,498,000	ConAgra Foods, Inc., 6.750%, 9/15/11		1,515,855
	3,000,000	Kellogg Co., 4.250%, 3/6/13		3,166,116
	2,000,000	Kraft Foods, Inc., 6.000%, 2/11/13		2,156,542
	2,000,000	The Kroger Co., 7.500%, 1/15/14		2,286,036
	2,000,000	Wal-Mart Stores, Inc., 6.200%, 4/15/38		2,216,142
				11,340,691
	*Energy — 4.4%*
	1,629,000	Enterprise Products Operating LP, 5.600%, 10/15/14		1,809,720
	2,000,000	Enterprise Products Operating LP, 3.700%, 6/1/15		2,096,744
	2,005,000	EQT Corp., 8.125%, 6/1/19		2,452,640
	2,000,000	Halliburton Co., 6.150%, 9/15/19		2,323,782
	500,000	Rowan Cos., Inc., 5.000%, 9/1/17		534,966
	1,000,000	Transocean, Inc., 7.375%, 4/15/18		1,164,418
	2,000,000	Williams Partners LP, 5.250%, 3/15/20		2,105,608
				12,487,878


Principal Amount			*Value*

	*Corporate Bonds — (Continued)*
	*Financials — 25.3%*
$	2,000,000	American Express Credit Co., Series C, 7.300%, 8/20/13	$	2,225,978
	5,000,000	Bank of Nova Scotia, 1.450%, 7/26/13 (a) (b)		5,057,400
	2,000,000	Barrick International Bank Corp., 5.750%, 10/15/16 (a) (b)		2,281,240
	3,000,000	BlackRock, Inc., 6.250%, 9/15/17		3,470,502
	4,000,000	Citigroup, Inc., 5.625%, 8/27/12		4,178,768
	4,000,000	Federal Agricultural Mortgage Corp, 3.250%, 6/25/14		4,247,588
	3,000,000	FIA Card Services NA, 7.125%, 11/15/12 (a) (b)		3,202,320
	3,000,000	Fifth Third Bancorp, 3.625%, 1/25/16		3,026,061
	1,000,000	General Electric Capital Corp., Series GMTN, 5.250%, 10/19/12		1,054,225
	3,700,000	General Electric Capital Corp., Series MTNA, 6.900%, 9/15/15		4,276,120
	1,000,000	Goldman Sachs Group, Inc., 5.250%, 10/15/13		1,072,939
	2,000,000	Hospitality Properties Trust, 6.750%, 2/15/13		2,133,274
	3,000,000	JPMorgan Chase & Co, 4.000%, 2/25/21 (c)		3,012,597
	1,000,000	Kimco Realty Corp., 4.820%, 6/1/14		1,068,052
	1,000,000	Lincoln National Corp., 4.750%, 2/15/14		1,069,005
	4,000,000	Manulife Financial Corp., 3.400%, 9/17/15		4,123,624
	1,000,000	MetLife, Inc., 5.000%, 11/24/13		1,076,131
	1,000,000	Morgan Stanley, 6.750%, 10/15/13		1,092,557

(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	Morgan Stanley, MTN, 5.000%, 5/17/23 (c)	$	2,000,000
	2,000,000	Nationwide Financial Services, Inc., 6.250%, 11/15/11		2,026,286
	1,915,000	Northern Trust Co., 6.500%, 8/15/18		2,217,809
	2,050,000	RenaissanceRe Holdings Ltd., 5.875%, 2/15/13		2,158,517
	5,000,000	Royal Bank of Canada, 3.125%, 4/14/15 (a) (b)		5,197,790
	2,000,000	Senior Housing Properties Trust, 4.300%, 1/15/16		2,018,232
	2,000,000	Simon Property Group LP, 5.650%, 2/1/20		2,160,798
	3,000,000	The Toronto-Dominion Bank, 2.200%, 7/29/15 (a) (b)		3,039,906
	3,395,000	Wachovia Corp., 5.625%, 10/15/16		3,685,554
				72,173,273
	*Health Care — 6.7%*
	2,000,000	AstraZeneca PLC, 5.900%, 9/15/17		2,330,700
	2,500,000	Covidien International Finance SA, 1.875%, 6/15/13		2,542,683
	1,000,000	Covidien International Finance SA, 2.800%, 6/15/15		1,025,309
	2,000,000	Gilead Sciences Inc, 4.500%, 4/1/21		2,003,314
	3,705,000	Laboratory Corp of America Holdings, 4.625%, 11/15/20		3,762,787
	1,000,000	Pfizer, Inc., 5.350%, 3/15/15		1,127,478
	5,000,000	Thermo Fisher Scientific, Inc., 3.250%, 11/20/14		5,271,415
	1,000,000	Wyeth, 5.500%, 3/15/13		1,078,803
				19,142,489
	*Industrials — 2.9%*
	1,665,000	Emerson Electric Co., 5.125%, 12/1/16		1,897,452
	2,000,000	Plum Creek Timberlands PLC, 4.700%, 3/15/12		1,971,114
	2,000,000	Union Pacific Corp., 5.650%, 5/1/17		2,264,210
	2,000,000	United Technologies Corp., 6.125%, 2/1/19		2,338,924
				8,471,700
	*Information Technology — 5.6%*
	2,000,000	CA, Inc., 6.125%, 12/1/14		2,243,918
	2,000,000	Cisco Systems, Inc., 5.500%, 1/15/40		2,003,118
	2,000,000	Hewlett-Packard Co., 5.500%, 3/1/18		2,236,622
	3,000,000	International Business Machines Corp., 7.625%, 10/15/18		3,815,499


Principal Amount			*Value*

	*Corporate Bonds — (Continued)*
	*Information Technology — (Continued)*
$	3,000,000	Oracle Corp., 6.125%, 7/8/39	$	3,337,383
	2,000,000	Oracle Corp., 5.250%, 1/15/16		2,257,028
				15,893,568
	*Materials — 1.3%*
	3,300,000	Potash Corp. of Saskatchewan, Inc., 5.250%, 5/15/14		3,627,489
	*Telecommunication Services — 2.3%*
	2,000,000	AT&T, Inc., 5.600%, 5/15/18		2,227,200
	2,000,000	Verizon Wireless, 7.375%, 11/15/13		2,273,960
	2,000,000	Vodafone Group PLC, 5.000%, 12/16/13		2,176,198
				6,677,358
	*Utilities — 8.4%*
	1,000,000	Consolidated Edison Co. of New York, Inc., Series 03-B, 3.850%, 6/15/13		1,050,802
	2,000,000	Constellation Energy Group, Inc., 4.550%, 6/15/15		2,128,420
	2,950,000	Dominion Resources, Inc., Class A, Series D, 5.000%, 3/15/13		3,145,075
	1,000,000	Duke Energy Corp., 6.300%, 2/1/14		1,116,762
	4,500,000	Duquesne Light Co., Series O, 6.700%, 4/15/12		4,690,440
	1,000,000	Georgia Power Co., 5.400%, 6/1/40		1,004,469
	1,800,000	Gulf Power Co., Series K, 4.900%, 10/1/14		1,913,796
	2,310,000	Metropolitan Edison, 4.875%, 4/1/14		2,445,322
	3,000,000	Pacific Gas & Electric Co., 6.250%, 12/1/13		3,348,237
	3,000,000	PSEG Power LLC, 2.500%, 4/15/13		3,055,230
				23,898,553
	*Total Corporate Bonds (Cost $176,313,165)*			*183,927,425*
	*U.S. Government Agencies — 19.7%*
	*Federal Farm Credit Bank — 0.8%*
	2,000,000	4.710%, 3/6/15		2,239,108
	*Federal Home Loan Bank — 9.5%*
	3,000,000	5.000%, 9/9/11		3,026,997
	3,000,000	4.375%, 6/8/12		3,113,523
	3,000,000	1.750%, 12/14/12		3,056,256
	3,000,000	5.375%, 6/14/13		3,283,185
	1,380,000	5.000%, 7/16/13		1,502,171
	2,000,000	2.000%, 5/14/15 (d)		2,039,826
	5,000,000	4.750%, 9/11/15		5,622,100
	5,000,000	3.500%, 12/9/16		5,305,830
				26,949,888

(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 — 4.4%
$	4,000,000	6.480%, 12/5/11	$	4,107,468
	3,000,000	1.500%, 7/12/13		3,000,936
	5,000,000	5.000%, 1/30/14		5,534,300
				12,642,704
	*Federal National Mortgage Association — 5.0%*
	4,000,000	1.200%, 7/21/14		4,001,468
	3,000,000	1.000%, 9/2/14		2,992,131
	4,000,000	1.250%, 10/28/14		4,009,644
	3,000,000	4.065%, 2/15/18		3,264,642
				14,267,885
	Total U.S. Government Agencies (Cost $54,159,402)			*56,099,585*
	*U.S. Treasury Obligations — 13.0%*
	*U.S. Treasury Bonds — 12.3%*
	1,500,000	9.125%, 5/15/18		2,152,032
	2,000,000	8.750%, 8/15/20		2,931,250
	4,000,000	7.125%, 2/15/23		5,417,500
	4,000,000	7.625%, 2/15/25		5,697,500
	4,000,000	6.750%, 8/15/26		5,338,124
	4,000,000	5.250%, 11/15/28		4,616,248
	4,000,000	6.125%, 8/15/29		5,082,500
	4,000,000	4.250%, 5/15/39		3,923,752
				35,158,906
	*U.S. Treasury Notes — 0.7%*
	2,000,000	US Treasury Note, 2.625%, 11/15/20		1,926,250
	Total U.S. Treasury Obligations (Cost $32,889,357)			*37,085,156*
	U.S. Government Mortgage Backed Agencies — 1.8%
	Federal Home Loan Mortgage Corporation — 0.7%
	901,736	Pool # J05518, 5.500%, 9/1/22		975,206
	989,856	Pool # J08160, 5.000%, 12/1/22		1,063,640
				2,038,846
	*Federal National Mortgage Association — 0.1%*
	64,415	Pool # 599630, 6.500%, 8/1/16		70,541
	160,527	Pool # 254486, 6.000%, 8/1/17		175,717
				246,258


Principal Amount or Shares			*Value*
	U.S. Government Mortgage Backed Agencies — (Continued)
	Government National Mortgage Association —1.0%
$	1,515,963	Pool # 683937, 6.000%, 2/15/23	$	1,662,018
	937,792	Pool # 689593, 6.000%, 7/15/23		1,030,928
	95,913	Pool # 345128, 6.500%, 1/15/24		109,730
	27,152	Pool # 373015, 7.000%, 3/15/24		31,554
	23,791	Pool # 373015, 8.000%, 6/15/24		28,155
				2,862,385
	Total U.S. Government Mortgage Backed Agencies (Cost $4,815,658)			*5,147,489*
	*Cash Equivalents — 1.8%*
	5,297,028	Huntington Money Market Fund, Interfund Shares, 0.010% (e) (f)		5,297,028
	*Total Cash Equivalents (Cost $5,297,028)*			*5,297,028*
	Total Investments (Cost $273,474,610) — 100.8%			*287,556,683*
	*Liabilities in Excess of Other Assets — (0.8)%*			*(2,382,403)*
	*Net Assets — 100.0%*		$	*285,174,280*

(a)

(b)

Illiquid Security

(c)

Variable or Floating Rate Security. Rate disclosed is as of December 31, 2010.

(d)

Step Bond: Coupon rate is set for an initial period and then increased to an higher coupon rate at a specified date. The rate shown is the rate in effect at June 30, 2011.

(e)

Investment in affiliate.

(f)

Rate disclosed is the seven day yield as of June 30, 2011.

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, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
U.S. Government Agencies		53.5%
U.S. Government Mortgage Backed Securities		24.5%
U.S. Treasury Obligations		13.5%
Collateralized Mortgage Obligations		5.1%
Cash¹		1.9%
Corporate Bonds		1.5%
*Total*		*100.0%*

¹	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


Principal Amount			*Value*

	*U.S. Government Agencies — 53.1%*
	*Federal Farm Credit Bank — 18.9%*
$	3,000,000	1.375%, 6/25/13	$	3,054,909
	2,000,000	1.620%, 11/16/15		1,987,508
	1,000,000	2.500%, 9/21/17		995,765
	2,500,000	3.150%, 1/12/18		2,573,590
	3,000,000	2.125%, 6/18/12		3,051,303
	1,000,000	4.500%, 12/15/15		1,115,444
	2,000,000	4.875%, 12/16/15		2,271,186
	1,000,000	3.750%, 1/29/16		1,079,519
	1,000,000	5.270%, 9/1/16		1,155,534
	2,000,000	5.050%, 3/8/17		2,279,728
	1,000,000	5.550%, 8/1/17		1,180,549
	1,000,000	4.250%, 4/16/18		1,083,669
	2,000,000	5.050%, 8/1/18		2,268,466
	1,000,000	5.375%, 11/10/20		1,145,545
				25,242,715
	*Federal Home Loan Bank — 23.5%*
	315,151	5.270%, 12/28/12		330,272
	1,000,000	3.750%, 6/14/13		1,061,651
	3,000,000	5.375%, 6/14/13		3,283,185
	1,000,000	4.375%, 9/13/13		1,082,217
	830,000	4.750%, 12/12/14		926,716
	1,000,000	4.375%, 2/13/15		1,098,604
	2,500,000	2.875%, 6/12/15		2,625,902
	2,000,000	4.750%, 9/11/15		2,248,840
	2,000,000	1.900%, 12/29/15		2,010,378
	1,000,000	4.875%, 3/11/16		1,135,135
	2,000,000	3.125%, 12/8/17		2,047,490
	1,500,000	4.250%, 3/9/18		1,639,704
	5,000,000	4.125%, 12/13/19		5,329,945
	1,000,000	4.125%, 3/13/20		1,062,230
	2,000,000	3.000%, 3/18/20		1,954,376
	3,500,000	3.375%, 6/12/20		3,494,473
				31,331,118


Principal Amount			*Value*

	*U.S. Government Agencies — (Continued)*
	*Federal National Mortgage Association — 8.7%*
$	5,000,000	4.125%, 4/15/14	$	5,445,055
	2,000,000	1.500%, 9/8/14		2,019,944
	1,000,000	3.125%, 5/15/15		1,023,925
	3,000,000	5.625%, 11/15/21		3,054,414
				11,543,338
	Government National Mortgage Association — 2.0%
	1,500,000	5.500%, 1/20/23		1,599,569
	1,000,000	5.000%, 5/20/32		1,053,413
				2,652,982
	Total U.S. Government Agencies (Cost $67,536,869)			*70,770,153*
	U.S. Government Mortgage Backed Agencies — 24.3%
	Federal Home Loan Mortgage Corporation — 4.1%
	181,985	Pool # M81004, 5.000%, 1/1/13		187,505
	155,036	Pool # E01184, 6.000%, 8/1/17		168,022
	502,726	Pool # B10827, 4.500%, 11/1/18		537,317
	950,764	Pool # J03237, 5.500%, 11/1/20		1,035,955
	482,506	Pool # C90699, 5.000%, 8/1/23		520,628
	555,603	Pool # C91296, 5.000%, 4/1/28		593,448
	260,731	Pool # G08168, 5.500%, 8/1/34		283,636
	372,605	Pool # 1G0865, 4.837%, 7/1/35 (a)		393,043
	1,044,381	Pool # 972190, 5.161%, 11/1/35 (a)		1,114,310
	555,989	Pool # G03498, 5.500%, 10/1/37		601,964
				5,435,828
	*Federal National Mortgage Association — 14.4%*
	118,651	Pool # 647408, 5.000%, 10/1/17		128,255
	676,915	Pool # 357771, 5.000%, 6/1/20		728,325
	728,193	Pool # 889799, 5.500%, 2/1/23		790,386

(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)
$	252,358	Pool # 255360, 5.000%, 10/1/23	$	272,155
	607,581	Pool # 255360, 5.000%, 8/1/24		654,104
	594,336	Pool # 256213, 5.500%, 6/1/25		647,697
	849,674	Pool # 256213, 4.500%, 11/1/25		905,694
	588,206	Pool # 256213, 6.000%, 2/1/26		644,968
	458,558	Pool # 256213, 6.000%, 4/1/26		502,809
	695,589	Pool # 257536, 5.000%, 1/1/29		743,958
	953,020	Pool # MA0171, 4.500%, 7/1/29		996,641
	962,887	Pool # MA0171, 4.000%, 11/1/30		983,203
	1,481,310	Pool # MA0171, 4.000%, 3/1/31		1,512,563
	2,478,687	Pool # MA0171, 4.500%, 4/1/31		2,592,139
	1,000,000	Pool # MA0171, 4.000%, 7/1/31		1,021,099
	408,134	Pool # 254486, 5.500%, 1/1/33		444,434
	698,943	Pool # 783793, 6.000%, 7/1/34		775,327
	554,396	Pool # 807963, 5.000%, 1/1/35		592,600
	391,284	Pool # 806715, 5.500%, 1/1/35		425,841
	690,966	Pool # 735224, 5.500%, 2/1/35		752,422
	652,412	Pool # 868935, 5.500%, 5/1/36		707,483
	301,708	Pool # 907484, 6.000%, 1/1/37		331,946
	930,956	Pool # AD7906, 5.000%, 7/1/40		991,037
	992,719	Pool # AH6655, 4.000%, 2/1/41		994,120
				19,139,206
	*Government National Mortgage Association — 5.8%*
	559,056	Pool # 683937, 5.500%, 2/15/23		606,104
	714,712	Pool # 666057, 5.000%, 3/15/23		770,650
	168,067	Pool # 2699, 6.000%, 1/20/29		187,024
	167,036	Pool # 576456, 6.000%, 3/15/32		187,011
	2,401,711	Pool # 3637, 5.000%, 4/20/38		2,613,236
	603,350	Pool # 676974, 5.500%, 5/15/38		664,627
	932,147	Pool # 733602, 5.000%, 4/15/40		1,015,070
	1,590,093	Pool # 4978, 4.500%, 3/20/41		1,676,968
				7,720,690
	Total U.S. Government Mortgage Backed Agencies (Cost $30,902,957)			*32,295,724*
	*U.S. Treasury Obligations — 13.5%*
	*U.S. Treasury Inflation Protection Notes — 1.7%*
	2,000,000	4.250%, 11/15/14		2,215,156
	*U.S. Treasury Notes — 11.8%*
	1,000,000	5.000%, 8/15/11		1,006,172
	1,000,000	4.125%, 8/31/12		1,044,922
	3,000,000	2.125%, 11/30/14		3,111,564
	1,500,000	2.000%, 1/15/16		1,889,101
	2,000,000	4.500%, 2/15/16		2,262,032
	2,000,000	5.125%, 5/15/16		2,324,376
	2,000,000	2.625%, 11/15/20		1,926,250
	2,000,000	1.125%, 1/15/21		2,135,299
				15,699,716
	Total U.S. Treasury Obligations (Cost $16,638,966)			*17,914,872*


Principal Amount or Shares			*Value*

	*Collateralized Mortgage Obligations — 5.1%*
	Federal Home Loan Mortgage Corporation — 4.7%
$	280,691	Series 2543, 4.250%, 1/15/18	$	296,185
	2,500,000	Series 2571, 5.500%, 7/15/21		2,628,052
	1,784,110	Series 2802, 5.500%, 11/15/31		1,876,237
	883,967	Series 2974, 5.000%, 9/15/31		903,963
	487,806	Series 2976, 4.500%, 1/15/33		512,037
				6,216,474
	*Federal National Mortgage Association — 0.4%*
	349,425	Series 2003-11, 5.500%, 8/25/32		373,202
	121,430	Series 2003-16, 4.000%, 2/25/33		127,645
	77,555	Series 2003-32, 5.000%, 3/25/17		78,253
				579,100
	Total Collateralized Mortgage Obligations (Cost $6,485,859)			*6,795,574*
	*Corporate Bonds — 1.5%*
	*Financials — 1.5%*
	2,000,000	Morgan Stanley, 1.950%, 6/20/12 (b)		2,031,734
	*Total Corporate Bonds (Cost $1,999,756)*			*2,031,734*
	*Cash Equivalents — 1.9%*
	2,552,419	Huntington Money Market Fund, Interfund Shares, 0.010% (c) (d)		2,552,419
	*Total Cash Equivalents (Cost $2,552,419)*			*2,552,419*
	*Total Investments (Cost $126,116,826) — 99.4%*			*132,360,476*
	*Other Assets in Excess of Liabilities — 0.6%*			*852,812*
	*Net Assets — 100.0%*		$	*133,213,288*

(a)

Variable or Floating Rate Security. Rate disclosed is as of June 30, 2011.

(b)

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

(c)

Investment in affiliate.

(d)

Rate disclosed is the seven day yield as of June 30, 2011.

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

Semi-Annual Shareholder Report



*Huntington Mortgage Securities Fund*		June 30, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
U.S. Government Mortgage Backed Securities		69.3%
Real Estate Investment Trusts		11.7%
Collateralized Mortgage Obligations		8.3%
U.S. Government Agencies		8.1%
Cash¹		2.6%
*Total*		*100.0%*

¹	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


Principal Amount or Shares			*Value*

	U.S. Government Mortgage Backed Agencies — 69.2%
	Federal Home Loan Mortgage Corporation —18.8%
$	79,797	Pool # M81004, 5.000%, 7/1/11	$	81,057
	181,985	Pool # M81004, 5.000%, 1/1/13		187,505
	233,357	Pool # J03237, 5.500%, 8/1/16		252,516
	130,625	Pool # E96459, 5.000%, 5/1/18		141,158
	56,840	Pool # C90699, 6.500%, 11/1/18		64,093
	502,726	Pool # B10827, 4.500%, 11/1/18		537,317
	643,987	Pool # J10396, 4.000%, 7/1/19		681,187
	228,915	Pool # G12425, 6.000%, 7/1/21		250,720
	806,194	Pool # G12867, 4.500%, 8/1/22		860,909
	370,811	Pool # C90699, 5.000%, 1/1/24		400,109
	387,938	Pool # C90699, 5.500%, 10/1/24		421,874
	451,007	Pool # C91296, 5.500%, 11/1/26		489,445
	555,603	Pool # C91296, 5.000%, 4/1/28		593,448
	749,215	Pool # C91296, 5.000%, 5/1/28		800,248
	153,777	Pool # C00730, 6.000%, 3/1/29		170,655
	3,562,168	Pool # C91296, 4.500%, 6/1/29		3,719,647
	2,376,504	Pool # C91296, 5.000%, 4/1/30		2,538,380
	442,910	Pool # A15284, 5.500%, 10/1/33		482,095
	521,462	Pool # G08168, 5.500%, 8/1/34		567,271
	372,605	Pool # 1G0865, 4.837%, 7/1/35 (a)		393,043
	465,662	Pool # A55565, 6.000%, 12/1/36		513,350
	300,084	Pool # G08168, 6.000%, 12/1/36		330,815
	485,176	Pool # G03498, 5.500%, 11/1/37		525,296
	1,962,182	Pool # G06023, 4.000%, 9/1/40		1,963,389
	1,390,538	Pool # A93936, 4.500%, 9/1/40		1,438,541
	982,309	Pool # A93936, 4.000%, 9/1/40		982,913
				19,386,981
	*Federal National Mortgage Association — 43.7%*
	181,583	Pool # 254486, 5.000%, 9/1/17		196,281
	210,224	Pool # 663808, 5.000%, 11/1/17		227,241
	309,449	Pool # 684488, 5.000%, 12/1/17		334,498
	421,926	Pool # 693256, 5.000%, 4/1/18		456,079
	271,869	Pool # 254486, 4.500%, 5/1/18		290,916


Principal Amount			*Value*

	U.S. Government Mortgage Backed Agencies — (Continued)
	Federal National Mortgage Association — (Continued)
$	295,137	Pool # 786729, 5.500%, 8/1/19	$	322,465
	320,152	Pool # 896597, 5.000%, 8/1/21		345,367
	339,119	Pool # 255360, 5.000%, 8/1/23		365,722
	720,950	Pool # 255360, 5.000%, 9/1/23		777,507
	665,263	Pool # 255360, 5.000%, 10/1/23		717,451
	293,702	Pool # 255360, 5.000%, 7/1/24		316,191
	2,348,921	Pool # 932438, 4.000%, 1/1/25		2,452,554
	921,233	Pool # 256213, 5.500%, 4/1/25		1,003,943
	278,180	Pool # 357771, 5.000%, 5/1/25		299,481
	502,129	Pool # 256213, 4.500%, 6/1/25		535,235
	849,674	Pool # 256213, 4.500%, 11/1/25		905,695
	735,257	Pool # 256213, 6.000%, 2/1/26		806,210
	1,489,168	Pool # 257281, 5.000%, 4/1/28		1,593,649
	850,235	Pool # 257281, 5.000%, 6/1/28		909,889
	800,141	Pool # 257281, 5.000%, 7/1/28		856,280
	695,589	Pool # 257536, 5.000%, 1/1/29		743,958
	1,524,832	Pool # MA0171, 4.500%, 7/1/29		1,594,625
	3,253,300	Pool # AC1219, 4.500%, 8/1/29		3,402,207
	1,613,484	Pool # MA0171, 4.500%, 9/1/29		1,687,335
	962,887	Pool # MA0171, 4.000%, 11/1/30		983,203
	1,481,310	Pool # MA0171, 4.000%, 3/1/31		1,512,563
	2,478,687	Pool # MA0171, 4.500%, 4/1/31		2,592,139
	1,000,000	Pool # MA0171, 4.000%, 7/1/31		1,021,099
	49,216	Pool # 602879, 6.000%, 11/1/31		54,595
	759,317	Pool # 729535, 5.500%, 7/1/33		826,851
	89,992	Pool # 748422, 6.000%, 8/1/33		99,826
	698,943	Pool # 783793, 6.000%, 7/1/34		775,326
	445,191	Pool # 786457, 5.284%, 7/1/34 (a)		477,307
	391,284	Pool # 806715, 5.500%, 1/1/35		425,841
	228,828	Pool # 814261, 6.000%, 1/1/35		252,834
	690,966	Pool # 735224, 5.500%, 2/1/35		752,422
	192,377	Pool # 836450, 6.000%, 10/1/35		212,318
	441,313	Pool # 845573, 5.371%, 2/1/36 (a)		469,559
	416,479	Pool # 745511, 5.000%, 4/1/36		443,617

(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)
	Federal National Mortgage Association — (Continued)
$	718,586	Pool # 745511, 5.500%, 4/1/36	$	781,375
	273,156	Pool # 888029, 6.000%, 12/1/36		301,044
	301,708	Pool # 907484, 6.000%, 1/1/37		331,946
	930,956	Pool # AD7906, 5.000%, 7/1/40		991,037
	1,730,544	Pool # AD7906, 5.000%, 7/1/40		1,842,227
	3,872,955	Pool # AE4310, 4.000%, 9/1/40		3,878,420
	1,881,309	Pool # AE0395, 4.500%, 10/1/40		1,949,401
	1,449,546	Pool # AE4628, 4.500%, 10/1/40		1,501,851
	1,489,079	Pool # AH6655, 4.000%, 2/1/41		1,491,180
				45,108,760
	Government National Mortgage Association — 6.7%
	478,280	Pool # 683937, 5.000%, 1/15/23		517,955
	530,821	Pool # 691761, 5.000%, 7/15/23		572,366
	965,797	Pool # 4978, 4.500%, 12/20/25		1,036,174
	1,757,670	Pool # 605653, 5.500%, 8/15/34		1,944,972
	1,075,558	Pool # 3637, 5.500%, 11/20/34		1,190,172
	603,350	Pool # 676974, 5.500%, 5/15/38		664,627
	932,147	Pool # 733602, 5.000%, 4/15/40		1,015,070
				6,941,336
	Total U.S. Government Mortgage Backed Agencies (Cost $69,072,418)			*71,437,077*
	*Common Stocks — 11.7%*
	*Real Estate Investment Trusts — 11.7%*
	10,074	Acadia Realty Trust		204,804
	7,500	Alexandria Real Estate Equities, Inc.		580,650
	12,000	American Campus Communities, Inc.		426,240
	1,000	Associated Estates Realty Corp.		16,250
	2,000	BioMed Realty Trust, Inc.		38,480
	5,500	Boston Properties, Inc.		583,880
	6,500	Brandywine Realty Trust		75,335
	1,000	Camden Property Trust		63,620
	6,000	Cogdell Spencer, Inc.		35,940
	2,000	Colonial Properties Trust		40,800
	1,000	Coresite Realty Corp.		16,400
	1,000	Developers Diversified Realty Corp.		14,100
	1,000	DiamondRock Hospitality Co.		10,730
	8,300	Digital Realty Trust, Inc.		512,774
	16,000	Douglas Emmett, Inc.		318,240
	15,000	Duke Realty Corp.		210,150
	5,000	DuPont Fabros Technology, Inc.		126,000
	9,000	EastGroup Properties, Inc.		382,590
	8,500	Equity Lifestyle Properties, Inc.		530,740
	8,000	Equity Residential		480,000
	4,500	Essex Property Trust, Inc.		608,805
	1,000	Excel Trust, Inc.		11,030
	1,500	Federal Realty Investment Trust		127,770
	7,000	HCP, Inc.		256,830
	500	Health Care REIT, Inc.		26,215
	3,500	Healthcare Realty Trust, Inc.		72,205
	8,000	Home Properties, Inc.		487,040


Principal Amount or Shares			*Value*

	*Common Stocks — (Continued)*
	*Real Estate Investment Trusts — (Continued)*
	17,616	Host Hotels & Resorts, Inc.	$	298,591
	8,600	Kimco Realty Corp.		160,304
	10,000	Kite Realty Group Trust		49,800
	13,000	LaSalle Hotel Properties		342,420
	9,000	Mack-Cali Realty Corp.		296,460
	7,500	National Retail Properties, Inc.		183,825
	3,500	Pennsylvania Real Estate Investment Trust		54,950
	1,000	Post Properties, Inc.		40,760
	5,743	ProLogis Inc.		205,829
	5,000	Public Storage, Inc.		570,050
	2,000	Realty Income Corp.		66,980
	3,500	Regency Centers Corp.		153,895
	5,500	Simon Property Group, Inc.		639,265
	1,903	SL Green Realty Corp.		157,702
	1,000	Sovran Self Storage, Inc.		41,000
	17,000	Tanger Factory Outlet Centers, Inc.		455,090
	10,915	The Macerich Co.		583,953
	6,376	UDR, Inc.		156,531
	10,000	Ventas, Inc.		527,100
	5,936	Vornado Realty Trust		553,116
	2,000	Washington Real Estate Investment Trust		65,040
	7,500	Weingarten Realty Investors		188,700
	2,000	Westfield Group		18,575
	2,000	Westfield Retail Trust		5,813
				12,073,367
	*Total Common Stocks (Cost $8,651,095)*			*12,073,367*
	*Collateralized Mortgage Obligations — 8.3%*
	*Federal Home Loan Mortgage Corporation — 7.2%*
$	798,580	Series 2541, 5.500%, 11/15/20		815,852
	307,602	Series 2543, 5.500%, 4/15/22		320,988
	1,000,000	Series 2571, 5.500%, 7/15/21		1,051,221
	156,014	Series 2584, 4.000%, 12/15/13		156,640
	964,664	Series 2672, 5.500%, 8/15/31		1,013,419
	505,272	Series 2770, 4.000%, 1/15/18		522,199
	1,000,000	Series 2784, 4.000%, 4/15/19		1,054,739
	1,000,000	Series 2802, 5.500%, 11/15/31		1,051,637
	883,967	Series 2974, 5.000%, 9/15/31		903,963
	487,806	Series 2976, 4.500%, 1/15/33		512,037
				7,402,695
	*Federal National Mortgage Association — 0.4%*
	366,041	Series 1999-13, 6.000%, 4/25/29		407,998
	*Residential Whole Loans — 0.7%*
	704,314	Citigroup Mortgage Securities, Inc., 5.500%, 10/25/35		699,826
	Total Collateralized Mortgage Obligations (Cost $8,177,703)			*8,510,519*

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

Semi-Annual Shareholder Report


*Huntington Mortgage Securities Fund*		(Continued)


Principal Amount			*Value*

	*U.S. Government Agencies — 8.0%*
	*Federal Home Loan Bank — 3.4%*
$	295,397	4.800%, 2/25/13	$	308,504
	1,000,000	4.250%, 3/9/18		1,094,738
	2,000,000	4.125%, 12/13/19		2,135,794
				3,539,036
	*Federal Home Loan Mortgage Corporation — 1.6%*
	500,000	4.500%, 4/2/14		548,055
	18,962	4.500%, 3/15/17		18,961
	435,993	5.250%, 4/15/17		463,493
	441,747	5.000%, 9/15/17		473,230
	185,280	5.000%, 7/15/35		189,403
				1,693,142
	*Federal National Mortgage Association — 3.0%*
	1,000,000	5.000%, 3/2/15		1,130,547
	40,392	6.000%, 11/25/22		40,652
	267,383	5.000%, 3/25/23		285,345
	515,734	5.000%, 12/25/31		535,931


Principal Amount or Shares			*Value*

	*U.S. Government Agencies — (Continued)*
	Federal National Mortgage Association — (Continued)
$	1,000,000	5.000%, 3/25/32	$	1,071,827
				3,064,302
	Total U.S. Government Agencies (Cost $7,688,422)			*8,296,480*
	*Cash Equivalents — 2.6%*
	2,711,750	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)		2,711,750
	*Total Cash Equivalents (Cost $2,711,750)*			*2,711,750*
	*Total Investments (Cost $96,301,388) — 99.8%*			*103,029,193*
	*Other Assets in Excess of Liabilities — 0.2%*			*241,161*
	*Net Assets — 100.0%*		$	*103,270,354*

(a)

Variable or Floating Rate Security. Rate disclosed is as of June 30, 2011.

(b)

Investment in affiliate.

(c)

Rate disclosed is the seven day yield as of June 30, 2011.

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

Semi-Annual Shareholder Report



*Huntington Ohio Tax-Free Fund*		June 30, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
General Obligations		33.7%
School Districts		32.1%
Higher Education		13.0%
Water		6.8%
Other		4.1%
Airports		2.6%
Medical		2.4%
Facilities		2.0%
Single Housing		1.9%
Power		1.1%
Cash		0.3%
*Total*		*100.0%*

Portfolio of Investments (unaudited)


Principal Amount			*Value*

	*Municipal Bonds — 98.9%*
	*Ohio — 98.9%*
$	50,000	Akron, OH, Bath Copley Joint Township Hospital District, (AGM Ins.), 5.250%, 11/15/15	$	50,970
	70,000	Akron, OH, Refunding & Improvement, G.O., (National Reinsurance), 5.250%, 12/1/18		70,790
	120,000	Akron, OH, Pension Funding Refunding Revenue, (AMBAC Ins.), 5.250%, 12/1/18		125,605
	100,000	Akron, OH, G.O., (MBIA-RE FGIC Ins.), 5.000%, 12/1/22		100,976
	200,000	Akron, OH, Refunding & Improvement, (Natural Reinsurance), G.O., 5.000%, 12/1/23		204,756
	225,000	Akron, OH, G.O., (AMBAC Ins.), 5.000%, 12/1/24		236,682
	100,000	Ashland, OH, Various Purposes, G.O., (National Reinsurance), 4.500%, 12/1/22		102,306
	150,000	Barberton, OH, City School District, (Student Credit Program), 5.000%, 12/1/22		165,720
	115,000	Big Walnut, OH, Local School District, (AGM Ins.), 5.000%, 12/1/22		122,999
	205,000	Bowling Green State University, OH, General Receipts Revenue, (AMBAC Ins.), 5.250%, 6/1/19		212,653


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	300,000	Bowling Green, OH, City School District, School Facilities Construction and Improvement, G.O., (AGM Ins.), 5.000%, 12/1/23	$	320,172
	320,000	Bowling Green, OH, City School District, (AGM Ins.), 5.000%, 12/1/24		338,736
	560,000	Brookfield Local School District, OH, School Facilities Improvement, G.O., (AGM Ins. Student Credit Program), 5.000%, 1/15/22		610,322
	250,000	Bucyrus, OH, City School District, (AGM Ins.), 5.000%, 12/1/22		267,797
	300,000	Butler County, OH, Sewer Systems Revenue, (AGM Ins.), 5.000%, 12/1/19		337,386
	170,000	Butler County, OH, G.O., (AMBAC Ins.), 4.750%, 12/1/20		179,777
	400,000	Butler County, OH, G.O., (AMBAC Ins.), 4.750%, 12/1/24		418,776
	500,000	Centerville, OH, G.O., (National Reinsurance), 5.000%, 12/1/20		531,250
	200,000	Chagrin Falls, OH, Exempt Village School District, G.O., (MBIA Ins.), 5.250%, 12/1/19		215,928
	200,000	Clark County, OH, Various Purposes, G.O., (XLCA), 5.000%, 12/1/18		224,252

(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)*
$	80,000	Cleveland, OH, School District Refunding, G.O., (FGIC Ins.), 5.250%, 12/1/14	$	84,886
	500,000	Cleveland, OH, Public Power System Revenue, Series A, (National Reinsurance, FGIC Ins.), 5.000%, 11/15/16		564,715
	335,000	Cleveland, OH, State University Revenue, Series A, (FGIC Ins.), 5.000%, 6/1/17		374,446
	500,000	Cleveland, OH, Airport System Revenue, Series C, (AGM Ins.), 5.000%, 1/1/18		529,965
	400,000	Cleveland, OH, School District Refunding, G.O., (FGIC Ins.), 5.000%, 12/1/18		416,512
	600,000	Cleveland, OH, Municipal School District, G.O., (National Reinsurance, FGIC Ins., Student Credit Program), 5.000%, 12/1/21		620,538
	365,000	Cleveland, OH, Airport System Revenue, Series C, (Assured Guaranty), 5.000%, 1/1/23		368,172
	150,000	Clyde-Green Springs Exempted Village School District, School Facilities Construction and Improvement, G.O., (AGM Student Credit Program), 5.000%, 12/1/19		167,783
	250,000	Columbus, OH, Regional Airport Authority Revenue, (MBIA Ins.), 5.000%, 1/1/20		271,037
	100,000	Columbus, OH, Regional Airport Authority Revenue, (AGM National Reinsurance), 5.000%, 1/1/21		107,842
	100,000	Cuyahoga Community College District, General Receipts Revenue, Series A (Ambac Ins.), 5.000%, 12/1/22		104,601
	500,000	Cuyahoga County, OH, Refunding Revenue, Series A, 6.000%, 1/1/17		540,790
	250,000	Cuyahoga County, OH, Refunding Revenue, Series A, 5.750%, 1/1/24		259,095
	250,000	Dublin, OH, City School District, School Facilities Construction & Improvement, G.O., (AGM Ins.), 5.000%, 12/1/20		269,277
	445,000	Fairfield County, OH, G.O., (National Reinsurance), 5.000%, 12/1/25		461,892
	360,000	Fairfield Union, OH, Local School District, G.O., Series A, (AGM Ins.), 4.250%, 12/1/18		388,620
	150,000	Fairless, OH, Local School District, G.O., (AGM Ins.), 5.000%, 12/1/21		157,400


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	155,000	Forest Hills, OH, Local School District, (AGM Ins.), 4.750%, 12/1/16	$	164,686
	190,000	Franklin County, OH, Municipal Facilities Improvements, G.O., (MBIA Ins.), 4.650%, 12/1/15		197,706
	350,000	Franklin County, OH, Nationwide Childrens Hospital Revenue, 4.000%, 11/1/16		383,852
	35,000	Gallia, OH, County Local School District, Local School District, G.O., (AGM Ins.), 4.500%, 12/1/20		36,101
	250,000	Greater Cleveland Regional Transit Authority, OH, Capital Improvement, G.O., Series A, (MBIA-RE FGIC Ins.), 5.000%, 12/1/21		270,870
	335,000	Greater Cleveland Regional Transit Authority, OH, Capital Improvement, G.O., Series A, (MBIA-RE FGIC Ins.), 5.000%, 12/1/21		355,954
	450,000	Greene County, OH, Sewer Systems Revenue, (AMBAC Ins.), 5.000%, 12/1/18		493,663
	540,000	Greene County, OH, Refunding , G.O., Series A, (AMBAC Ins.), 5.000%, 12/1/19		620,541
	100,000	Greene County, OH, Water System Revenue, Series A, (National Reinsurance), 5.250%, 12/1/20		116,001
	275,000	Greene County, OH, Water & Sewer Revenue, (AGM Ins.), 5.000%, 12/1/21		290,832
	170,000	Hamilton County, OH, Stratford Heights Project, (AGM Ins.), 5.000%, 6/1/18		190,376
	200,000	Hamilton County, OH, Sewer Systems Revenue, Series A, (MBIA Ins.), 5.000%, 12/1/20		219,704
	280,000	Hamilton, OH, (Various Purposes), (Assured Guaranty), 5.000%, 11/1/21		311,142
	400,000	Harrison, OH, Tax Anticipation G.O. Notes, 2.600%, 12/8/11		402,684
	260,000	Hilliard, OH, School District, G.O., Series B, 0.000%, 12/1/18 (a)		206,297
	200,000	Huber Heights, Ohio City School District, School Improvement, 4.750%, 12/1/24		213,106
	150,000	Hudson, OH, G.O., (AMBAC Ins.), 5.000%, 12/1/19		161,496
	75,000	Independence, OH, Rockside Road Improvement, G.O., (AMBAC Ins.), 5.000%, 12/1/20		80,789

(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)*
$	160,000	Jackson, OH, Local School District, Stark and Summit Counties, G.O., (AGM, Ins.) 5.000%, 12/1/18	$	170,968
	335,000	Kent State University, OH, General Receipts Revenue, G.O., Series B, (Assured Guaranty), 5.000%, 5/1/19		375,424
	615,000	Kent State University, OH, General Receipts Revenue, Series B, (Assured Guaranty), 5.000%, 5/1/23		655,910
	50,000	Kettering, OH, City School District, School Improvement, G.O., (AGM Ins.), 4.750%, 12/1/19		54,474
	400,000	Kettering, OH, City School District, G.O., (AGM Ins.), 4.750%, 12/1/22		423,164
	95,000	Keystone, OH, Local School District, G.O., (AGM Ins.), 5.000%, 12/1/19		100,080
	100,000	Lake Local School District/Stark County OH, School Improvement, G.O., (AGM Ins.), 5.000%, 12/1/18		108,231
	285,000	Lakewood City, OH, School District, G.O., (AGM Ins.), 5.000%, 12/1/18		302,194
	300,000	Licking Heights, OH, Local School District, G.O., (National Reinsurance, FGIC Ins.), 4.750%, 12/1/20		319,128
	235,000	Madison, OH, Local School District, G.O., (AGM Ins.), 4.000%, 12/1/17		246,994
	250,000	Marysville, OH, Exempted Village School District, G.O., (AGM Ins.), 5.000%, 12/1/23		264,647
	600,000	Medina County, OH, Library District, G.O., (FGIC Ins.), 5.250%, 12/1/20		632,340
	500,000	Middletown, OH, G.O., (AGM Ins.), 5.000%, 12/1/21		553,700
	250,000	Montgomery County, OH, Water Refunding Revenue, (AMBAC Ins.), 5.375%, 11/15/16		257,127
	540,000	Montgomery County, OH, Refunding & Improvement, G.O., (National Reinsurance), 5.000%, 12/1/21		576,477
	200,000	Mount Healthy, OH, City School District, G.O., (AGM Ins.), 5.250%, 12/1/19		227,730
	50,000	Mount Vernon, OH, City School District, G.O., (AGM Ins.), 5.000%, 12/1/17		54,367
	370,000	Northern Local School District, Capital Appreciation Improvement School Facilities, G.O., (Student Credit Program), 0.000%, 10/1/18 (a)		293,221
	500,000	Norton, OH, BAN, Various Purposes, G.O., 1.875%, 8/25/11		500,675


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	200,000	Ohio Capital Asset Financing Program Fractionalized Interests, G.O., Series B, 5.000%, 12/1/22	$	214,820
	150,000	Ohio Housing Finance Agency, Single-Family Mortgage Revenue, Series 1, 2.650%, 5/1/17		145,709
	385,000	Ohio Housing Finance Agency, Single-Family Mortgage Revenue, Series 1, 3.250%, 5/1/20		367,275
	75,000	Ohio State, G.O., Series A, 5.000%, 9/15/17		83,165
	150,000	Ohio State, Parks and Recreation Capital Facilities Revenue, Series II-A, (AGM Ins.), 5.000%, 12/1/17		161,199
	50,000	Ohio State, G.O., Series A, 4.000%, 9/15/18		55,394
	200,000	Ohio University, General Receipts Revenue, 5.000%, 12/1/18		226,230
	225,000	Ohio State, G.O., Series A, 5.000%, 3/1/19		241,564
	500,000	Ohio State, G.O., Series A, 5.000%, 9/15/19		544,170
	100,000	Ohio State, G.O., Series B, 5.500%, 9/15/19		120,206
	100,000	Ohio State, G.O., Series B, 5.000%, 3/1/20		109,898
	75,000	Ohio State, G.O., Series C, 5.000%, 8/1/20		87,480
	175,000	Ohio State, G.O., Series A, 5.000%, 9/1/20		195,848
	350,000	Ohio State, G.O., Series B, 5.000%, 9/15/20		383,295
	725,000	Ohio State, G.O., Series B, 5.000%, 4/1/21		780,571
	550,000	Ohio State, G.O., Series A, 5.000%, 6/15/21		588,269
	150,000	Ohio State, G.O., Series B, 5.000%, 9/15/21		163,581
	300,000	Ohio State, G.O., Series A, 5.000%, 5/1/22		314,946
	150,000	Ohio State, G.O., Series A, 5.000%, 6/15/22		159,954
	655,000	Ohio State, Series A, 5.375%, 9/1/23		728,118
	130,000	Ohio State, Infrastructure Improvement, G.O., Series A, 5.000%, 9/1/23		139,710
	750,000	Ohio State, G.O., Series B, 4.500%, 9/15/23		772,845
	670,000	Ohio State, G.O., Series A, 5.000%, 2/1/24		706,193

(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)*
$	400,000	Ohio State, G.O., Series B, 5.000%, 3/15/24	$	421,156
	150,000	Ohio State, G.O., Series A, 5.000%, 6/15/24		158,471
	600,000	Ohio State, G.O., Series B, 4.500%, 9/15/24		614,310
	125,000	Ohio State Building Authority, State Facilities Adult Correction Revenue, Series A, (AGM Ins.), 5.500%, 10/1/14		126,454
	150,000	Ohio State Building Authority, State Facilities Arts Building Revenue, Series A, 5.000%, 4/1/16		159,708
	400,000	Ohio State Building Authority, Administration Building Fund Revenue, Series A, 5.000%, 10/1/23		431,332
	250,000	Ohio State Higher Education Facilities Commission Revenue, Dension University Project, 5.000%, 11/1/20		265,757
	75,000	Ohio State Higher Education, G.O., Series A, 5.000%, 5/1/21		78,957
	155,000	Ohio State Housing Finance Agency Residential Mortgage Revenue, Series J, (GNMA/FNMA/FHLMC Ins.), 4.875%, 9/1/15		164,148
	160,000	Ohio State Housing Finance Agency Residential Mortgage Revenue, Series J, (GNMA/FNMA/FHLMC Ins.), 5.000%, 9/1/23		165,827
	95,000	Ohio State Housing Finance Agency Residential Mortgage Revenue, Series J, (GNMA/FNMA/FHLMC Ins.), 5.900%, 9/1/23		100,829
	1,000,000	Ohio State Turnpike Commission, Series A, (FGIC Ins.), 5.500%, 2/15/20		1,172,660
	170,000	Ohio State University General Receipts Revenue, Series A, 5.000%, 6/1/25		178,335
	100,000	Ohio State Water Development Authority Revenue, 5.000%, 6/1/19		117,589
	500,000	Olentangy, Local School District, G.O., Series A, (AGM Ins.), 5.000%, 12/1/18		562,245
	300,000	Olentangy, Local School District, G.O., Series A, (AGM Ins.), 5.000%, 12/1/21		326,445


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	400,000	Olentangy, Local School District, G.O., Series A, 5.000%, 12/1/22	$	435,452
	175,000	Ottawa-Glandorf, Local School District, G.O., Putnam, OH, Series A, (Student Credit Program), 0.000%, 12/1/20 (a)		119,814
	235,000	Pandora Gilboa, OH, Local School District, Putnam County Capital Appreciation Refunding, G.O., (Student Credit Program), 0.000%, 12/1/15 (a)		211,202
	140,000	Pandora Gilboa, OH, City School District, Putnam County Capital Appreciation Refunding, G.O., (Student Credit Program), 0.000%, 12/1/16 (a)		120,922
	500,000	Princeton, OH, City School District Capital Appreciation, G.O., Series B, 0.000%, 12/1/20 (a)		362,150
	100,000	Reynoldsburg City School District, School Facilities Construction and Improvement, G.O., 5.000%, 12/1/20		111,328
	470,000	River Valley, OH, Local School District, G.O., (AGM Ins. Student Credit Program), 5.250%, 11/1/23		535,527
	100,000	Sebring, OH, Local School District, Capital Appreciation Refunding Class Room Facilities, G.O., (Student Credit Program), 0.000%, 12/1/16 (a)		84,958
	100,000	Sebring, OH, Local School District, Capital Appreciation Refunding Class Room Facilities, G.O., (Student Credit Program), 0.000%, 12/1/17 (a)		80,230
	150,000	Seven Hills, OH, Capital Improvement, G.O., 5.250%, 12/1/18		173,869
	1,040,000	Shaker Heights, OH, Urban Renewal Refunding, G.O., (AMBAC Ins.), 5.000%, 12/1/17		1,113,830
	105,000	Southern Local School District/Meigs County, Various Purposes Constructiona and Improvement, G.O., Series A, 0.000%, 12/1/15 (a)		94,984
	105,000	Southern Local School District/Meigs County, Various Purposes Constructiona and Improvement, G.O., Series A, 0.000%, 12/1/17 (a)		86,392
	780,000	Southwest Licking Local School District, G.O., (AMBAC Ins.), 5.000%, 12/1/19		786,396
	500,000	South-Western City School District, (AGM Ins.), 4.750%, 12/1/22		531,775

(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)*
$	150,000	Springboro, OH, Various Purposes, G.O., 5.000%, 12/1/18	$	173,006
	125,000	Springfield City, OH, School District, (AGM Ins.), 5.000%, 12/1/21		134,791
	100,000	State of Ohio, Series A, (AGM Ins.), 5.000%, 4/1/17		109,160
	50,000	State of Ohio, Major New State Infrastructure Project Revenue, Series 2008-1, 5.500%, 6/15/20		57,409
	325,000	Strongsville, OH, Library Improvements, G.O., (FGIC Ins.), 5.000%, 12/1/15		329,995
	235,000	Swanton, OH, Local School District, School Improvement, G.O., (FGIC Ins.), 4.900%, 12/1/15		239,968
	225,000	Toledo, OH, Sewer System Revenue, (AMBAC Ins.), 5.000%, 11/15/18		236,160
	700,000	Toledo, OH, Waterworks Revenue, (MBIA Ins.), 5.000%, 11/15/19		760,053
	350,000	Toledo, OH, School Facilities Improvement, G.O., Series 2003, (AGM Ins.), 5.000%, 12/1/21		362,806
	200,000	Toledo, OH, City School District, Series B, (FGIC Ins.), 5.000%, 12/1/21		207,084
	300,000	Toledo, OH, Waterworks Revenue, (MBIA-RE FGIC Ins.), 5.000%, 11/15/22		319,404
	400,000	Troy, OH, City School District, School Improvement, G.O., (AGM Ins.), 5.000%, 12/1/18		430,112
	800,000	Troy, OH, G.O., 4.750%, 12/1/22		834,088
	320,000	Troy, OH, G.O., 4.750%, 12/1/24		331,120
	75,000	Trumbull County, OH, G.O., Series B, (AGM Ins.), 5.000%, 12/1/20		84,149
	235,000	Twinsburg, OH , Local School District Refunding, G.O., (FGIC Ins.), 5.000%, 12/1/18		255,729
	350,000	University of Akron, OH, Series B, (AGM Ins.), 5.000%, 1/1/21		380,439
	500,000	University of Akron, OH, General Receipts Revenue, Series B, (AGM Ins.), 5.250%, 1/1/24		538,055
	500,000	University of Cincinnati, OH, General Receipts Revenue, Series A, (AMBAC Ins.), 5.000%, 6/1/17		546,780
	300,000	University of Cincinnati, OH, General Receipts Revenue, Series A, (AMBAC Ins.), 5.000%, 6/1/19		328,995


Principal Amount			*Value*

	*Municipal Bonds — (Continued)*
	*Ohio — (Continued)*
$	300,000	University of Cincinnati, OH, General Receipts Revenue, Series A, (AMBAC Ins.), 5.000%, 6/1/19	$	322,050
	500,000	University of Cincinnati, OH, General Receipts Revenue, Series A, (AGM Ins.), 5.000%, 6/1/20		539,580
	500,000	University of Cincinnati, OH, General Receipts Revenue, Series A, (MBIA Ins.), 5.000%, 6/1/22		537,185
	100,000	University of Cincinnati, OH, General Receipts Revenue, Series F, 5.000%, 6/1/23		101,721
	400,000	University of Toledo, OH, General Receipts Revenue, Series A, (AMBAC Ins.), 5.000%, 6/1/19		431,536
	100,000	Van Buren, OH, School District, Capital Appreciation Advance Refunding, G.O., (AGM Ins.), 0.000%, 12/1/16 (a)		87,020
	50,000	Warren County, OH, Waterworks Refunding Revenue, (AGM Ins.), 5.000%, 12/1/15		52,708
	150,000	Warren County, OH, Waterworks Refunding Revenue, (AGM Ins.), 5.000%, 12/1/18		156,180
	650,000	Washington County, OH, School Improvements, G.O., (FGIC Ins.), 5.000%, 12/1/19		681,596
	205,000	Western Reserve, OH, Local School District, Capital Appreciation Classroom Facilities, G.O., (Student Credit Program), 0.000%, 12/1/16 (a)		177,065
	65,000	Western Reserve, OH, Local School District, Capital Appreciation Classroom Facilities, G.O., (Student Credit Program), 0.000%, 1/15/18 (a)		51,765
	200,000	Westerville, OH, City School District, G.O., (National Reinsurance), 5.000%, 12/1/17		216,140
	125,000	Westerville, OH, G.O., (AMBAC Ins.), 5.000%, 12/1/23		137,020
	300,000	Wyoming, OH, School District, Refunding School Improvement, G.O., (AGM Ins.), 5.000%, 12/1/20		321,495
	400,000	Zanesville City School District, School Improvement, G.O., (Student Credit Program), 4.500%, 12/1/19		442,384
	50,000	Zanesville City School District, School Improvement, G.O., (Student Credit Program), 3.750%, 12/1/21		50,720
				49,507,035
	*Total Municipal Bonds (Cost $48,601,765)*			*49,507,035*

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

Semi-Annual Shareholder Report


*Huntington Ohio Tax-Free Fund*		(Continued)


*Shares*			*Value*
	*Cash Equivalents — 0.4%*
	170,520	Fidelity Tax-Exempt Portfolio, Class I, 0.010% (b)	$	170,520
	*Total Cash Equivalents (Cost $170,520)*			*170,520*
	*Total Investments (Cost $48,772,285) — 99.3%*			*49,677,555*
	*Other Assets in Excess of Liabilities — 0.7%*			*359,658*
	*Net Assets — 100.0%*		$	*50,037,213*

(a)

Zero coupon capital appreciation bonds.

(b)

Rate disclosed is the seven day yield as of June 30, 2011.

AGM — Assured Guaranty Municipal Corp.

AMBAC — American Municipal Bond Assurance Corp.

BAN — Bond Anticipation Note

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

MBIA — Municipal Bond Insurance Association

XLCA — XI Capital Assurance, Inc.

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

Semi-Annual Shareholder Report



*Huntington Short/Intermediate Fixed Income Securities Fund*		June 30, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Corporate Bonds		63.1%
U.S. Government Agencies		29.7%
U.S. Treasury Obligations		4.4%
Cash¹		2.8%
*Total*		*100.0%*

¹	Investments in an affiliated money market fund.

Portfolio of Investments (unaudited)


Principal Amount			*Value*

	*Corporate Bonds — 64.1%*
	*Consumer Discretionary — 2.7%*
$	1,000,000	Home Depot, Inc., 5.250%, 12/16/13	$	1,092,736
	1,000,000	Johnson Controls, Inc., 4.875%, 9/15/13		1,077,624
	1,000,000	McDonald’s Corp., Series G, MTN, 4.300%, 3/1/13		1,057,981
	1,000,000	The Walt Disney Co., Series D, 4.500%, 12/15/13		1,085,349
	2,000,000	Time Warner, Inc., 3.150%, 7/15/15		2,068,346
				6,382,036
	*Consumer Staples — 4.7%*
	2,000,000	Coca-Cola Enterprises Inc, 1.125%, 11/12/13		1,998,104
	1,000,000	CVS Caremark Corp., 4.875%, 9/15/14		1,096,967
	1,585,000	General Mills, Inc., 5.250%, 8/15/13		1,722,128
	1,000,000	HJ Heinz Co., 5.350%, 7/15/13		1,085,213
	2,000,000	Kellogg Co., 5.125%, 12/3/12		2,120,020
	2,000,000	Safeway, Inc., 5.800%, 8/15/12		2,104,236
	1,000,000	Sysco Corp., 4.200%, 2/12/13		1,052,577
				11,179,245
	*Energy — 3.6%*
	1,000,000	Apache Corp., 6.000%, 9/15/13		1,107,154
	1,000,000	Chevron Corp., 3.450%, 3/3/12		1,020,947
	1,000,000	ConocoPhillips, 4.750%, 2/1/14		1,091,144
	2,000,000	Kinder Morgan Energy Partners LP, 5.125%, 11/15/14		2,195,280
	1,000,000	Noble Corp., 5.875%, 6/1/13		1,084,411
	2,000,000	Spectra Energy Capital LLC, 5.900%, 9/15/13		2,173,352
				8,672,288


Principal Amount			*Value*

	*Corporate Bonds — (Continued)*
	*Financials — 23.1%*
$	2,000,000	American Express Credit Co., MTN, 2.750%, 9/15/15	$	1,999,404
	2,000,000	Bank of America Corp, Series Serie L, MTN, 1.693%, 1/30/14 (a)		2,004,608
	2,000,000	Bank of New York Mellon Corp./The, 2.950%, 6/18/15		2,064,334
	2,000,000	Bank of Nova Scotia, 2.375%, 12/17/13		2,057,234
	1,000,000	BB&T Corp., 3.100%, 7/28/11		1,001,707
	2,000,000	BB&T Corp., 5.200%, 12/23/15		2,163,664
	1,000,000	Boeing Capital Corp., 3.250%, 10/27/14		1,058,652
	2,000,000	Canadian Imperial Bank of Commerce, 1.450%, 9/13/13		2,008,374
	2,000,000	Caterpillar Financial Services Corp., Series F, MTN, 5.125%, 10/12/11		2,026,178
	1,000,000	Charles Schwab Corp./The, 4.950%, 6/1/14		1,096,427
	1,500,000	Citigroup, Inc., 6.010%, 1/15/15		1,650,657
	3,000,000	Federal Agricultural Mortgage Corp, 3.250%, 6/25/14		3,185,691
	3,000,000	Federal National Mortgage Association, Series 11, 1.250%, 2/27/14		3,037,617
	2,000,000	Federal National Mortgage Association, 0.702%, 6/7/16 (a)		2,009,832
	2,000,000	Fifth Third Bancorp, 3.625%, 1/25/16		2,017,374
	2,500,000	General Electric Capital Corp., 2.250%, 11/9/15		2,457,487
	1,500,000	Goldman Sachs Group, Inc., 5.500%, 11/15/14		1,621,887

(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	HSBC Financial Corp., 3.500%, 6/28/15 (b) (c)	$	2,052,266
	1,000,000	Key Bank NA, 5.091%, 3/26/15		1,086,923
	433,000	M&I Marshall & Ilsley Bank, BKNT, 5.300%, 9/8/11		435,699
	2,000,000	Manulife Financial Corp., 3.400%, 9/17/15		2,061,812
	2,000,000	MetLife Global Funding I, 3.125%, 1/11/16 (b) (c)		2,024,832
	2,000,000	Morgan Stanley, Series G, MTN, 2.761%, 5/14/13 (a)		2,053,440
	1,500,000	Principal Life Income Funding Trusts, Series MTN, 5.150%, 9/30/11		1,513,247
	2,000,000	Prudential Financial, Inc., Series D, 3.875%, 1/14/15		2,087,552
	2,000,000	Royal Bank of Canada, MTN, 2.100%, 7/29/13		2,052,072
	2,060,000	Simon Property Group LP, 4.200%, 2/1/15		2,191,397
	2,000,000	US Bank NA, 4.950%, 10/30/14		2,188,368
	1,500,000	Wells Fargo & Co., Series I, 3.750%, 10/1/14		1,580,862
				54,789,597
	*Health Care — 9.0%*
	2,014,000	Cardinal Health, Inc., 4.000%, 6/15/15		2,129,273
	2,232,000	Celgene Corp., 2.450%, 10/15/15		2,218,673
	2,000,000	Covidien International Finance SA, 2.800%, 6/15/15		2,050,618
	1,000,000	HCP, Inc., 2.700%, 2/1/14		1,014,420
	2,000,000	Howard Hughes Medical Institute, 3.450%, 9/1/14		2,128,060
	2,000,000	McKesson Corp., 3.250%, 3/1/16		2,062,068
	1,000,000	Medco Health Solutions, Inc., 6.125%, 3/15/13		1,078,341
	2,000,000	Medtronic, Inc., 3.000%, 3/15/15		2,089,122
	1,000,000	Medtronic, Inc., 2.625%, 3/15/16		1,015,787
	1,000,000	Pfizer, Inc., 4.450%, 3/15/12		1,028,492
	1,200,000	St Jude Medical, Inc., 3.750%, 7/15/14		1,276,711
	2,000,000	Thermo Fisher Scientific, Inc., 3.200%, 5/1/15		2,079,024
	1,000,000	Wyeth, 5.500%, 3/15/13		1,078,803
				21,249,392


Principal Amount			*Value*

	*Corporate Bonds — (Continued)*
	*Industrials — 7.2%*
$	1,000,000	3M Co., Series A, MTN, 4.375%, 8/15/13	$	1,079,892
	2,000,000	Anheuser-Busch InBev Worldwide, Inc., 2.500%, 3/26/13		2,049,498
	1,000,000	Broadcom Corp., 2.375%, 11/1/15		990,118
	2,000,000	Danaher Corp, 2.300%, 6/23/16		1,998,406
	2,000,000	Eaton Corp., 4.900%, 5/15/13		2,149,258
	1,000,000	Emerson Electric Co., 4.625%, 10/15/12		1,048,256
	2,000,000	Harsco Corp., 2.700%, 10/15/15		2,006,544
	1,000,000	ITT Corp., 4.900%, 5/1/14		1,090,887
	1,000,000	Nabors Industries, Inc., 5.375%, 8/15/12		1,035,872
	1,500,000	Northrop Grumman Corp., 3.700%, 8/1/14		1,591,719
	1,000,000	Raytheon Co., 1.625%, 10/15/15		977,388
	1,000,000	Shell International Finance BV, 4.000%, 3/21/14		1,076,604
				17,094,442
	*Information Technology — 3.3%*
	1,000,000	Dell, Inc., 4.700%, 4/15/13		1,065,345
	1,000,000	Dell, Inc., 2.300%, 9/10/15		1,004,039
	1,500,000	Hewlett-Packard Co., 4.250%, 2/24/12		1,536,120
	2,000,000	Oracle Corp., 4.950%, 4/15/13		2,145,702
	2,000,000	Symantec Corp., 2.750%, 9/15/15		1,981,328
				7,732,534
	*Materials — 5.3%*
	2,000,000	Air Products & Chemicals, Inc., 4.150%, 2/1/13		2,100,194
	2,000,000	Barrick Gold Corp., 2.900%, 5/30/16 (b)		1,998,426
	1,000,000	Nucor Corp., 4.875%, 10/1/12		1,046,781
	1,000,000	Nucor Corp., 5.000%, 12/1/12		1,055,660
	2,000,000	Potash Corp. of Saskatchewan, Inc., 3.750%, 9/30/15		2,124,854
	2,000,000	PPG Industries, Inc., 5.750%, 3/15/13		2,148,388
	2,000,000	Sherwin-Williams Co./The, 3.125%, 12/15/14		2,112,066
				12,586,369
	*Telecommunication Services — 1.8%*
	2,000,000	AT&T, Inc., 2.500%, 8/15/15		2,026,022
	1,000,000	Verizon Communications, Inc., 1.950%, 3/28/14		1,016,277
	1,000,000	Verizon Wireless, 7.375%, 11/15/13		1,136,980
				4,179,279

(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)*
	*Utilities — 3.4%*
$	1,500,000	FPL Group Capital, Inc., 5.350%, 6/15/13	$	1,604,269
	1,000,000	Indiana Michigan Power Co., 6.375%, 11/1/12		1,066,909
	2,000,000	PSEG Power LLC, 2.500%, 4/15/13		2,036,820
	1,262,000	Southern Co., 4.150%, 5/15/14		1,351,905
	1,000,000	Southern Co., 2.375%, 9/15/15		1,000,301
	1,000,000	Wisconsin Public Service Corp., 4.875%, 12/1/12		1,052,465
				8,112,669
	*Total Corporate Bonds (Cost $148,429,217)*			*151,977,851*
	*U.S. Government Agencies — 30.2%*
	*Federal Farm Credit Bank — 3.4%*
	3,000,000	2.125%, 6/18/12		3,051,303
	3,000,000	1.875%, 12/7/12		3,063,159
	2,000,000	3.400%, 2/7/13		2,094,398
				8,208,860
	*Federal Home Loan Bank — 15.1%*
	2,000,000	1.625%, 7/27/11		2,002,202
	2,000,000	1.000%, 12/28/11		2,008,192
	2,000,000	1.125%, 5/18/12		2,014,212
	2,000,000	1.875%, 6/20/12		2,029,942
	3,000,000	1.750%, 8/22/12		3,047,685
	1,000,000	1.625%, 9/26/12		1,015,476
	3,000,000	1.625%, 6/14/13		3,064,872
	3,000,000	1.000%, 9/13/13		3,025,734
	1,000,000	4.375%, 9/13/13		1,082,217
	2,000,000	1.375%, 9/12/14		2,019,502
	6,000,000	1.375%, 5/28/14		6,079,788
	2,000,000	3.250%, 9/12/14		2,137,064
	2,000,000	4.750%, 11/14/14		2,236,532
	2,000,000	1.750%, 9/11/15		2,010,004
	2,000,000	1.900%, 12/29/15		2,010,378
				35,783,800
	*Federal Home Loan Mortgage Corporation — 0.9%*
	2,000,000	2.175%, 2/19/14		2,069,560
	*Federal National Mortgage Association — 10.8%*
	1,435,000	2.000%, 1/30/12		1,448,465
	2,000,000	1.250%, 6/22/12		2,017,942
	5,000,000	0.625%, 9/24/12		5,019,125
	5,000,000	1.125%, 9/17/13		5,056,445
	2,000,000	1.700%, 8/18/14		2,003,262
	4,000,000	1.500%, 9/8/14		4,039,888
	3,000,000	1.300%, 11/17/14		3,010,917
	3,000,000	1.625%, 10/26/15		2,987,055
				25,583,099
	Total U.S. Government Agencies (Cost $70,783,925)			*71,645,319*


Principal Amount *or Shares*			*Value*

	*U.S. Treasury Obligations — 4.5%*
	*U.S. Treasury Notes — 4.5%*
$	1,500,000	2.125%, 12/31/15	$	1,539,843
	5,000,000	0.875%, 2/29/12		5,024,200
	4,000,000	0.750%, 6/15/14		3,995,312
				10,559,355
	Total U.S. Treasury Obligations (Cost $10,504,452)			*10,559,355*
	*Cash Equivalents — 2.9%*
	6,827,705	Huntington Money Market Fund, Interfund Shares (d) (e)		6,827,705
	*Total Cash Equivalents (Cost $6,827,705)*			*6,827,705*
	*Total Investments (Cost $236,545,299) — 101.7%*			*241,010,230*
	*Liabilities in Excess of Other Assets — (1.7)%*			*(4,089,743)*
	*Net Assets — 100.0%*		$	*236,920,487*

(a)

Variable or Floating Rate Security. Rate disclosed is as of June 30, 2011.

(b)

(c)

Illiquid security.

(d)

Investment in affiliate.

(e)

Rate disclosed is the seven day yield as of June 30, 2011.

BKNT — Bank Note

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, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Equity Mutual Funds¹		64.7%
Fixed Income Mutual Funds¹		31.9%
Cash¹		3.4%
*Total*		*100.0%*

¹	Investments in affiliated funds.

Portfolio of Investments (unaudited)


*Shares*			*Value*
	*Mutual Funds — 96.5% (a)*
	128,717	Huntington Dividend Capture Fund, Trust Shares	$	1,176,474
	184,811	Huntington Fixed Income Securities Fund, Trust Shares		4,124,987
	53,833	Huntington Global Select Markets Fund, Trust Shares		631,998
	135,214	Huntington Growth Fund, Trust Shares		3,568,290
	148,432	Huntington Income Equity Fund, Trust Shares		3,237,305
	176,354	Huntington Intermediate Government Income Fund, Trust Shares		1,929,314
	224,310	Huntington International Equity Fund, Trust Shares		2,693,965
	309,947	Huntington Macro 100 Fund, Trust Shares		3,118,063
	69,064	Huntington Mid Corp America Fund, Trust Shares		1,158,895
	120,654	Huntington Mortgage Securities Fund, Trust Shares		1,111,222
	79,348	Huntington New Economy Fund, Trust Shares*		860,136
	96,437	Huntington Short/Intermediate Fixed Income Securities Fund, Trust Shares		1,936,454
	93,589	Huntington Situs Fund, Trust Shares*		2,016,836
	*Total Mutual Funds (Cost $24,601,198)*			*27,563,939*


*Shares*			*Value*
	*Cash Equivalents — 3.4%*
	982,897	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)	$	982,896
	*Total Cash Equivalents (Cost $982,897)*			*982,896*
	*Total Investments (Cost $25,584,095) — 99.9%*			*28,546,835*
	*Other Assets in Excess of Liabilities — 0.1%*			*22,341*
	*Net Assets — 100.0%*		$	*28,569,176*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2011.

*	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, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Fixed Income Mutual Funds¹		72.1%
Equity Mutual Funds¹		24.8%
Cash¹		3.1%
*Total*		*100.0%*

1	Investments in affiliated funds.

Portfolio of Investments (unaudited)


*Shares*			*Value*
	*Mutual Funds — 96.8% (a)*
	26,854	Huntington Dividend Capture Fund, Trust Shares	$	245,446
	228,406	Huntington Fixed Income Securities Fund, Trust Shares		5,098,015
	11,280	Huntington Global Select Markets Fund, Trust Shares		132,425
	28,287	Huntington Growth Fund, Trust Shares		746,482
	31,011	Huntington Income Equity Fund, Trust Shares		676,351
	217,930	Huntington Intermediate Government Income Fund, Trust Shares		2,384,155
	46,975	Huntington International Equity Fund, Trust Shares		564,174
	64,872	Huntington Macro 100 Fund, Trust Shares		652,608
	14,458	Huntington Mid Corp America Fund, Trust Shares		242,597
	148,643	Huntington Mortgage Securities Fund, Trust Shares		1,369,004
	16,614	Huntington New Economy Fund, Trust Shares*		180,096
	119,166	Huntington Short/Intermediate Fixed Income Securities Fund, Trust Shares		2,392,856
	19,594	Huntington Situs Fund, Trust Shares*		422,259
	*Total Mutual Funds (Cost $14,201,806)*			*15,106,468*


*Shares*			*Value*
	*Cash Equivalents — 3.1%*
	490,207	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)	$	490,207
	*Total Cash Equivalents (Cost $490,207)*			*490,207*
	*Total Investments (Cost $14,692,013) — 99.9%*			*15,596,675*
	*Other Assets in Excess of Liabilities — 0.1%*			*10,447*
	*Net Assets — 100.0%*		$	*15,607,122*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2011.

*	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, 2011


*Portfolio of Investments Summary Table*		(unaudited)


*Asset Allocation*	Percentage of Market Value
Equity Mutual Funds¹		84.2%
Fixed Income Mutual Funds¹		12.4%
Cash¹		3.4%
*Total*		*100.0%*

¹	Investments in affiliated funds.

Portfolio of Investments (unaudited)


*Shares*			*Value*
	*Mutual Funds — 96.6% (a)*
	134,348	Huntington Dividend Capture Fund, Trust Shares	$	1,227,940
	58,042	Huntington Fixed Income Securities Fund, Trust Shares		1,295,502
	56,360	Huntington Global Select Markets Fund, Trust Shares		661,667
	141,611	Huntington Growth Fund, Trust Shares		3,737,122
	155,182	Huntington Income Equity Fund, Trust Shares		3,384,529
	55,401	Huntington Intermediate Government Income Fund, Trust Shares		606,084
	234,864	Huntington International Equity Fund, Trust Shares		2,820,722
	324,574	Huntington Macro 100 Fund, Trust Shares		3,265,212
	72,321	Huntington Mid Corp America Fund, Trust Shares		1,213,544
	37,808	Huntington Mortgage Securities Fund, Trust Shares		348,216
	83,087	Huntington New Economy Fund, Trust Shares*		900,662
	30,297	Huntington Short/Intermediate Fixed Income Securities Fund, Trust Shares		608,367
	97,998	Huntington Situs Fund, Trust Shares*		2,111,865
	*Total Mutual Funds (Cost $19,155,766)*			*22,181,432*


*Shares*			*Value*
	*Cash Equivalents — 3.4%*
	772,755	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)	$	772,754
	*Total Cash Equivalents (Cost $772,754)*			*772,754*
	*Total Investments (Cost $19,928,520) — 100.0%*			*22,954,186*
	*Liabilities in Excess of Other Assets — (0.0)%*			*(2,076)*
	*Net Assets — 100.0%*		$	*22,952,110*

(a)

Investment in affiliate.

(b)

Rate disclosed is the seven day yield as of June 30, 2011.

*	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, 2011 (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

73,167,367

463,093,291

148,312,092

326,466,854

Investments, at value

73,167,367

463,093,291

148,312,092

206,466,854

Investments in affiliated securities, at value

—

Investments in repurchase agreements, at cost

—

120,000,000

Total Investments

73,167,367

463,093,291

148,312,092

326,466,854

Cash

—

307

Foreign currencies, at value (Cost $—, $—, $—, $—, $—, $23,574, $—, $—, $149,072, $—)

—

Income receivable

74,625

693,564

187,272

31,513

Receivable for investments sold

—

5,000,000

Receivable for shares sold

—

524

—

6,000

Receivable from Advisor

5,915

16,087

16,886

57,697

Tax reclaims receivable

—

Prepaid expenses and other assets

16,928

15,951

13,897

18,344

Total assets

73,264,835

463,819,417

153,530,147

326,580,715

Liabilities:

Cash overdraft

—

4,057

—

Options written, at value (premium received $—, $—, $—, $—, $—, $—, $—, $75,179, $—, $— )

—

Income distribution payable

591

2,837

837

2,818

Payable for investments purchased

—

10,000,000

300,477

—

Payable for shares redeemed

—

Accrued expenses and other payables

Investment advisor fees

—

Administration fees

11,508

66,840

29,473

49,886

Custodian fees

3,789

14,933

12,527

8,999

Financial administration fees

2,420

2,262

2,675

2,269

Distribution service fee

—

Shareholder services fee

—

Transfer agent fees

3,688

4,431

12,646

5,904

Trustees’ fees

482

1,184

565

3,251

Compliance service fees

357

2,286

714

2,056

Other

6,015

76,960

32,252

42,190

Total liabilities

28,850

10,175,790

392,166

117,373

Net Assets

73,235,985

453,643,627

153,137,981

326,463,342

Net Assets Consist of:

Paid in capital

73,367,053

454,093,130

153,422,982

326,455,272

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

—

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

(131,068

)

(449,503

)

(285,001

)

3,910

Accumulated net investment income (loss)

—

4,160

Total Net Assets

73,235,985

453,643,627

153,137,981

326,463,342

Net Assets:

Trust Shares

60,370,951

233,299,949

60,143,457

261,312,452

Class A Shares

12,865,034

120,756,165

92,994,524

65,150,890

InterFund Shares

—

99,587,513

—

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

Trust Shares

60,468,985

233,769,675

60,304,759

261,280,620

Class A Shares

12,897,110

120,726,507

93,110,737

65,177,086

InterFund Shares

—

99,602,419

—

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

Trust Shares

1.00

Class A Shares

1.00

InterFund Shares

—

1.00

—

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

Class A Shares

—

Maximum Sales Charge:

Class A Shares

—

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

Semi-Annual Shareholder Report

Huntington
Dividend
Capture
Fund

Huntington
Global Select
Markets Fund

Huntington
Growth
Fund

Huntington
Income
Equity
Fund

Huntington
International
Equity
Fund

Huntington
Macro 100
Fund

128,995,380

44,024,433

117,472,164

107,768,987

263,906,257

44,427,131

133,806,999

48,281,251

133,111,584

115,293,785

308,840,642

45,342,945

3,464,658

625,805

6,336,914

2,656,788

13,196,912

8,624,555

—

137,271,657

48,907,056

139,448,498

117,950,573

322,037,554

53,967,500

30,374

—

23,576

—

149,879

—

332,804

137,185

152,351

284,236

1,041,006

37,051

1,296,878

382,583

—

50,199

83,806

—

186,992

15,581

136,583

67,611

212,472

160,096

—

3,416

—

444,260

—

16,912

11,765

15,138

11,909

20,283

17,627

139,135,617

49,481,162

139,752,570

118,364,528

323,989,260

54,182,274

—

28,925

—

637,516

—

506,156

—

255,502

41,440

147,702

99,690

230,506

100,680

83,203

39,476

66,082

56,374

259,960

30,052

20,183

7,217

��

20,090

17,124

47,412

7,736

1,641

4,189

2,512

1,964

7,718

544

2,140

16,273

2,055

2,083

15,024

2,247

4,663

175

1,697

1,231

2,173

350

27,735

9,889

27,533

23,489

64,989

10,614

9,097

972

10,011

7,478

11,869

3,867

677

406

285

994

109

714

189

568

492

1,385

136

16,165

4,693

23,868

16,033

45,458

6,593

1,059,236

124,579

302,524

761,324

687,488

162,928

138,076,381

49,356,583

139,450,046

117,603,204

323,301,772

54,019,346

153,889,419

43,400,095

117,992,576

120,039,439

272,423,115

52,585,444

8,276,277

4,885,450

21,976,334

10,227,840

58,152,516

9,540,369

(24,278,208

)

1,270,120

(406,596

)

(12,896,413

)

(10,470,972

)

(8,138,348

)

188,893

(199,082

)

(112,268

)

232,338

3,197,113

31,881

138,076,381

49,356,583

139,450,046

117,603,204

323,301,772

54,019,346

114,689,281

48,474,206

130,975,795

111,659,972

312,610,121

52,287,450

23,387,100

882,377

8,474,251

5,943,232

10,691,651

1,731,896

—

12,548,336

4,130,139

4,963,706

5,120,178

26,025,188

5,195,946

2,559,902

75,426

330,752

272,426

897,944

174,408

—

9.14

11.74

26.39

21.81

12.01

10.06

9.14

11.70

25.62

21.82

11.91

9.93

—

9.59

12.28

26.90

22.90

12.50

10.43

4.75

Semi-Annual Shareholder Report

Statements of Assets and Liabilities (Continued)

June 30, 2011 (Unaudited)

Huntington
Mid Corp
America
Fund

Huntington
New Economy
Fund

Huntington
Real
Strategies
Fund

Huntington
Rotating
Markets
Fund

Assets:

Investments, at cost

93,241,994

53,943,565

104,541,184

33,504,389

Investments, at value

150,863,789

51,269,585

105,284,873

40,667,022

Investments in affiliated securities, at value

8,362,257

2,661,984

11,414,160

566,313

Total Investments

159,226,046

53,931,569

116,699,033

41,233,335

Cash

—

3,388

—

Foreign currencies, at value (Cost $—, $—, $—, $—, $4,284, $—, $—, $—, $—, $—)

—

Income receivable

162,198

18,051

92,504

40,317

Receivable for investments sold

—

1,035,103

—

Receivable for shares sold

53,863

43,070

253,030

25,154

Tax reclaims receivable

—

Prepaid expenses and other assets

17,760

16,042

20,353

17,306

Total assets

159,459,867

54,012,120

118,100,023

41,316,112

Liabilities:

Cash overdraft

—

Options written, at value (premium received $—, $134,082, $1,156,160, $—, $343,804, $—, $—, $—, $—, $—)

—

172,850

959,600

—

Income distribution payable

—

Payable for investments purchased

—

816,863

6,465,937

—

Payable for shares redeemed

122,741

86,733

59,436

13,545

Accrued expenses and other payables

Investment advisor fees

95,523

36,364

59,982

16,521

Administration fees

23,202

7,805

14,565

6,025

Custodian fees

2,188

1,195

1,000

748

Financial administration fees

2,671

3,298

2,309

1,664

Distribution service fee

1,563

992

470

514

Shareholder services fee

31,841

10,695

19,993

8,260

Transfer agent fees

8,288

6,731

2,778

3,733

Trustees’ fees

612

175

340

Compliance service fees

683

201

366

183

Other

22,471

8,471

13,725

6,308

Total liabilities

311,783

1,152,373

7,600,501

57,593

Net Assets

159,148,084

52,859,747

110,499,522

41,258,519

Net Assets Consist of:

Paid in capital

82,099,094

69,639,010

118,459,906

37,298,055

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

65,984,052

(50,764

)

12,354,409

7,728,946

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

10,955,721

(16,461,722

)

(20,434,161

)

(4,121,422

)

Accumulated net investment income (loss)

109,217

(266,777

)

119,368

352,940

Total Net Assets

159,148,084

52,859,747

110,499,522

41,258,519

Net Assets:

Trust Shares

151,361,695

48,083,351

108,293,294

38,696,686

Class A Shares

7,786,389

4,776,396

2,206,228

2,561,833

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

Trust Shares

9,021,839

4,436,106

13,213,548

3,312,288

Class A Shares

476,139

453,487

288,046

221,079

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

Trust Shares

16.78

10.84

8.20

11.68

Class A Shares

16.35

10.53

7.66

11.59

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

Class A Shares

17.17

11.06

8.04

11.89

Maximum Sales Charge:

Class A Shares

4.75

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

Semi-Annual Shareholder Report

Huntington
Situs
Fund

Huntington
Technical
Opportunities
Fund

Huntington
Fixed Income
Securities
Fund

Huntington
Intermediate
Government
Income Fund

Huntington
Mortgage
Securities
Fund

Huntington
Ohio
Tax-Free
Fund

150,026,360

10,840,415

273,474,610

126,116,826

96,301,388

48,772,285

209,685,329

10,730,608

282,259,655

129,808,057

100,317,443

49,677,555

9,028,131

504,193

5,297,028

2,552,419

2,711,750

—

218,713,460

11,234,801

287,556,683

132,360,476

103,029,193

49,677,555

—

4,285

—

88,277

30,271

3,120,304

738,477

378,513

370,738

—

272,992

—

178,610

9,183

496,571

157,796

41,390

403,663

18,592

—

12,498

17,264

16,023

17,161

17,143

17,546

219,015,722

11,291,519

291,189,630

133,546,902

103,466,244

50,469,502

—

8,762

—

39,750

—

328,902

131,363

—

74,032

—

5,101,010

59,458

—

295,082

148,737

—

299,279

—

87,959

5,932

130,575

6,743

118,748

55,238

42,731

20,469

31,716

1,641

43,381

20,168

15,597

7,473

3,813

100

6,383

2,273

2,191

1,290

13,335

1,579

9,234

5,941

4,851

7,322

5,125

1,596

921

845

550

43,525

2,248

59,374

27,619

21,365

10,234

9,743

1,998

5,427

4,091

4,397

2,706

2,030

887

262

305

180

997

822

438

440

148

29,944

2,102

40,307

17,080

15,209

6,871

459,290

16,511

6,015,350

333,614

195,890

432,289

218,556,432

11,275,008

285,174,280

133,213,288

103,270,354

50,037,213

151,257,510

11,846,362

268,921,170

126,895,367

97,440,006

48,902,295

68,992,938

394,386

14,082,073

6,243,650

6,727,805

905,270

(1,166,197

)

(950,107

)

2,151,321

26,842

(1,145,059

)

230,322

(527,819

)

(15,633

)

19,716

47,429

247,602

(674

)

218,556,432

11,275,008

285,174,280

133,213,288

103,270,354

50,037,213

192,719,839

11,023,967

277,624,366

128,729,035

99,196,479

47,437,141

25,836,593

251,041

7,549,914

4,484,253

4,073,875

2,600,072

8,943,020

1,306,873

12,439,154

11,761,768

10,770,332

2,221,825

1,226,865

29,960

338,307

409,749

439,630

121,857

21.55

8.44

22.32

10.94

9.21

21.35

21.06

8.38

22.32

10.94

9.27

21.34

22.11

8.80

23.19

11.37

9.63

22.17

4.75

3.75

Semi-Annual Shareholder Report

Statements of Assets and Liabilities (Continued)

June 30, 2011 (Unaudited)

Huntington
Short/Intermediate
Fixed Income
Securities Fund

Huntington
Balanced
Allocation
Fund

Huntington
Conservative
Allocation
Fund

Huntington
Growth
Allocation
Fund

Assets:

Investments, at cost

236,545,299

25,584,095

14,692,013

19,928,520

Investments, at value

234,182,525

—

Investments in affiliated securities, at value

6,827,705

28,546,835

15,596,675

22,954,186

Total Investments

241,010,230

28,546,835

15,596,675

22,954,186

Cash

—

10,540

Income receivable

1,500,552

17,368

25,598

6,320

Receivable for shares sold

44,945

38,087

1,953

7,329

Receivable from Advisor

—

563

—

Prepaid expenses and other assets

19,470

5,573

6,441

6,569

Total assets

242,575,197

28,607,863

15,631,230

22,984,944

Liabilities:

Cash overdraft

3,993,261

—

Income distribution payable

172,040

1,095

327

—

Payable for investments purchased

1,089,710

—

Payable for shares redeemed

176,728

22,204

13,418

18,751

Accrued expenses and other payables

Investment advisor fees

97,809

834

—

1,398

Administration fees

35,676

4,185

2,320

3,340

Custodian fees

3,017

109

119

Financial administration fees

8,151

1,985

2,032

1,732

Distribution service fee

1,868

5,750

3,179

4,586

Shareholder services fee

48,905

—

Transfer agent fees

2,077

356

972

486

Trustees’ fees

479

Compliance service fees

609

Other

24,380

2,017

1,655

2,350

Total liabilities

5,654,710

38,687

24,108

32,834

Net Assets

236,920,487

28,569,176

15,607,122

22,952,110

Net Assets Consist of:

Paid in capital

233,969,163

25,326,095

14,592,445

19,620,246

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

4,464,931

2,962,740

904,662

3,025,666

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

(1,513,607

)

275,667

106,443

267,816

Accumulated net investment income

—

4,674

3,572

38,382

Total Net Assets

236,920,487

28,569,176

15,607,122

22,952,110

Net Assets:

Trust Shares

227,892,073

—

Class A Shares

9,028,414

28,569,176

15,607,122

22,952,110

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

Trust Shares

11,348,281

—

Class A Shares

449,518

2,384,472

1,434,445

1,847,413

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

Trust Shares

20.08

—

Class A Shares

20.08

11.98

10.88

12.42

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

Class A Shares

20.39

12.58

11.42

13.04

Maximum Sales Charge:

Class A Shares

1.50

4.75

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

Semi-Annual Shareholder Report

[THIS PAGE INTENTIONALLY LEFT BLANK]

Statements of Operations

Six Months Ended June 30, 2011 (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

2,053

36,984

3,600

—

Dividend income from affiliated securities

—

Interest income

149,978

581,507

287,885

203,438

Foreign dividend taxes withheld

—

Total investment income

152,031

618,491

291,485

203,438

Expenses:

Investment advisor fees

120,750

641,644

259,556

362,906

Administration fees

73,336

389,692

157,778

330,606

Custodian fees

12,829

44,638

19,341

41,673

Transfer and dividend disbursing agent fees and expenses

14,641

32,080

14,608

22,536

Trustees’ fees

3,842

18,813

8,058

17,993

Professional fees

11,084

52,895

23,389

51,302

Financial administration fees

2,778

1,950

3,203

1,714

Distribution services fee—Class A Shares

16,846

157,803

146,666

83,408

Shareholder services fee—Trust Shares

83,780

272,691

69,833

370,348

Shareholder services fee—Class A Shares

16,846

157,803

146,666

83,408

Share registration costs

8,677

9,634

6,753

9,038

Printing and postage

4,943

30,682

11,499

16,643

Insurance premiums

2,657

7,881

4,364

6,373

Compliance service fees

1,960

10,068

4,471

8,631

Other

7,773

18,906

10,760

15,377

Total expenses

382,742

1,847,180

886,945

1,421,956

Investment advisory fees waived

(117,261

)

(641,644

)

(240,953

)

(362,906

)

Distributions services fees waived

(16,846

)

(157,803

)

(146,666

)

(83,408

)

Shareholder services fees waived

(100,626

)

(430,494

)

(216,499

)

(453,756

)

Reimbursement from Advisor

—

(20,153

)

—

(336,575

)

Net expenses

148,009

597,086

282,827

185,311

Net investment income (loss)

4,022

21,405

8,658

18,127

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

Net realized gain (loss) on investment transactions

—

7,126

(31,165

)

4,260

Net realized gain (loss) on option transactions

—

Net realized loss on foreign currency transactions

—

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

—

7,126

(31,165

)

4,260

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

—

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

—

7,126

(31,165

)

4,260

Change in net assets resulting from operations

4,022

28,531

(22,507

)

22,387

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

Semi-Annual Shareholder Report

Huntington
Dividend
Capture
Fund

Huntington
Global Select
Markets Fund

Huntington
Growth
Fund

Huntington
Income
Equity Fund

Huntington
International
Equity
Fund

Huntington
Macro 100
Fund

3,267,129

412,926

699,801

2,781,233

5,614,571

387,577

191

142

734

242

—

71,923

—

(47,367

)

(45,675

)

(17,735

)

(91,562

)

(511,436

)

—

3,219,953

439,246

682,208

2,689,764

5,103,869

387,819

493,958

225,894

401,231

336,096

1,570,304

182,393

120,000

41,219

121,841

102,061

286,110

44,310

15,404

26,514

18,121

14,088

61,105

6,116

39,696

12,972

33,794

28,647

42,950

21,131

5,382

1,869

5,858

4,813

13,371

2,041

15,126

5,191

15,469

13,346

37,207

5,632

2,950

6,392

1,607

2,233

8,441

2,837

26,656

979

10,677

7,629

13,255

2,221

137,996

55,578

156,502

132,410

379,319

58,577

26,656

979

10,677

7,629

13,256

2,220

10,914

9,795

12,549

10,682

12,319

14,992

6,912

2,761

7,417

7,201

14,068

3,485

2,362

1,396

2,865

2,529

5,126

1,616

2,524

696

2,941

2,495

6,817

986

4,213

1,790

1,277

2,586

2,598

13,397

910,749

394,025

802,826

674,445

2,466,246

361,954

—

910,749

394,025

802,826

674,445

2,466,246

361,954

2,309,204

45,221

(120,618

)

2,015,319

2,637,623

25,865

6,913,302

1,289,827

94,266

6,325,736

13,317,332

437,371

108,390

94,157

—

(64,971

)

—

(8,546

)

—

(72,084

)

—

7,021,692

1,375,438

94,266

6,260,765

13,245,248

437,371

(796,856

)

(54,493

)

4,482,140

1,618,023

(3,057,358

)

1,310,542

6,224,836

1,320,945

4,576,406

7,878,788

10,187,890

1,747,913

8,534,040

1,366,166

4,455,788

9,894,107

12,825,513

1,773,778

Semi-Annual Shareholder Report

Statements of Operations (Continued)

Six Months Ended June 30, 2011 (Unaudited)

Huntington
Mid Corp
America
Fund

Huntington
New Economy
Fund

Huntington
Real
Strategies
Fund

Huntington
Rotating
Markets
Fund

Investment Income:

Dividend income

1,128,654

156,842

1,195,528

503,260

Dividend income from affiliated securities

310

196

286

Interest income

—

Foreign dividend taxes withheld

(3,789

)

(839

)

(35,643

)

—

Total investment income

1,125,175

156,199

1,160,171

503,294

Expenses:

Investment advisor fees

587,802

237,233

363,807

101,208

Administration fees

142,798

50,852

88,381

36,880

Custodian fees

17,266

7,484

12,425

5,110

Transfer and dividend disbursing agent fees and expenses

28,015

26,228

16,508

16,932

Trustees’ fees

6,701

2,482

4,177

1,750

Professional fees

17,606

6,946

11,588

4,873

Financial administration fees

2,657

3,159

2,626

1,635

Distribution services fee—Class A Shares

9,694

6,526

2,741

3,164

Shareholder services fee—Trust Shares

186,240

63,249

118,528

47,440

Shareholder services fee—Class A Shares

9,694

6,526

2,741

3,164

Share registration costs

10,789

11,203

15,454

13,507

Printing and postage

7,880

4,734

5,404

3,641

Insurance premiums

3,053

1,815

2,181

1,605

Compliance service fees

3,437

1,258

2,075

923

Other

2,494

2,369

14,767

9,586

Total expenses

1,036,126

432,064

663,403

251,418

Net investment income (loss)

89,049

(275,865

)

496,768

251,876

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

Net realized gain/(loss) on investment transactions

10,379,679

10,517,803

(2,043,803

)

162,594

Net realized gain/(loss) on option transactions

—

(2,846,203

)

976,628

—

Net realized gain/(loss) on foreign currency transactions

—

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

10,379,679

7,671,600

(1,067,175

)

162,594

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

581,426

(7,025,269

)

3,204,235

2,594,758

Net realized and unrealized gain on investments options and foreign currency transactions

10,961,105

646,331

2,137,060

2,757,352

Change in net assets resulting from operations

11,050,154

370,466

2,633,828

3,009,228

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

Semi-Annual Shareholder Report

Huntington
Situs
Fund

Huntington
Technical
Opportunities
Fund

Huntington
Fixed Income
Securities
Fund

Huntington
Intermediate
Government
Income Fund

Huntington
Mortgage
Securities
Fund

Huntington
Ohio
Tax-Free
Fund

928,525

107,631

—

203,563

440

187

175

172

—

5,470,476

2,340,613

2,050,658

861,214

(14,352

)

(4,510

)

—

914,613

103,145

5,470,663

2,340,788

2,254,393

861,285

816,863

41,083

715,482

314,188

254,565

126,285

198,444

9,980

260,723

114,491

92,764

46,019

27,250

2,929

38,149

16,084

13,739

6,974

40,350

12,911

24,265

18,546

18,066

14,769

9,217

470

12,758

5,379

4,469

2,284

25,262

1,308

34,897

15,197

12,595

6,504

6,959

1,792

10,231

8,731

11,109

19,434

31,124

233

9,870

5,603

5,022

3,542

241,164

13,462

347,871

151,491

122,260

59,600

31,124

233

9,870

5,603

5,022

3,542

15,528

15,297

11,502

10,522

13,307

13,395

9,854

1,790

12,962

6,450

6,313

3,238

3,531

1,209

5,013

2,791

2,686

1,817

4,477

226

6,198

2,702

2,342

1,139

4,348

15,855

4,040

5,045

4,451

2,735

1,465,495

118,778

1,503,831

682,823

568,710

311,277

(550,882

)

(15,633

)

3,966,832

1,657,965

1,685,683

550,008

7,564,205

446,532

1,930,818

(6,852

)

(167,867

)

147,357

109,499

—

(1,349

)

255

—

(22

)

—

7,672,355

446,787

1,930,818

(6,852

)

(167,889

)

147,357

6,520,262

(185,716

)

138,572

658,253

1,328,243

643,807

14,192,617

261,071

2,069,390

651,401

1,160,354

791,164

13,641,735

245,438

6,036,222

2,309,366

2,846,037

1,341,172

Semi-Annual Shareholder Report

Statements of Operations (Continued)

Six Months Ended June 30, 2011 (Unaudited)

Huntington
Short/
Intermediate
Fixed Income
Securities
Fund

Huntington
Balanced
Allocation
Fund

Huntington
Conservative
Allocation
Fund

Huntington
Growth
Allocation
Fund

Investment Income:

Dividend income from affiliated securities

235

189,856

159,952

110,808

Interest income

2,748,862

—

Total investment income

2,749,097

189,856

159,952

110,808

Expenses:

Investment advisor fees

551,069

12,625

7,534

10,465

Administration fees

200,811

24,555

13,727

19,068

Custodian fees

26,467

1,366

816

1,052

Transfer and dividend disbursing agent fees and expenses

18,337

15,662

9,585

12,038

Trustees’ fees

9,275

1,144

650

874

Professional fees

25,948

3,147

1,820

2,404

Financial administration fees

9,551

1,400

2,482

2,182

Distribution services fee—Class A Shares

9,968

33,693

18,395

26,163

Shareholder services fee—Trust Shares

265,567

—

Shareholder services fee—Class A Shares

9,968

—

Share registration costs

11,729

3,145

3,234

3,227

Printing and postage

8,237

2,096

1,457

2,573

Insurance premiums

3,600

1,341

1,258

1,294

Compliance service fees

4,426

530

317

421

Other

4,685

3,074

2,893

5,744

Total expenses

1,159,638

103,778

64,608

87,505

Investment advisory fees waived

—

(12,625

)

(7,534

)

(10,465

)

Reimbursement from Advisor

—

(1,181

)

(1,863

)

(4,412

)

Net expenses

1,159,638

89,972

55,211

72,628

Net investment income

1,589,459

99,884

104,741

38,180

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

Net realized gain on investment transactions

527,928

—

Net realized gain on investment transactions of affiliates

—

258,703

89,002

256,223

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

527,928

258,703

89,002

256,223

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

755,418

663,507

171,694

612,095

Net realized and unrealized gain on investments options and foreign currency transactions

1,283,346

922,210

260,696

868,318

Change in net assets resulting from operations

2,872,805

1,022,094

365,437

906,498

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

Semi-Annual Shareholder Report

[THIS PAGE INTENTIONALLY LEFT BLANK]

Statements of Changes in Net Assets


	Huntington Tax-Free Money Market Fund
	Six Months Ended June 30, 2011			Year Ended December 31, 2010
	*(Unaudited)*
*Increase (Decrease) in Net Assets:*
*Operations—*
Net investment income	$	4,022		$	9,406
Net realized gain (loss) on investments, options and foreign currency transactions		—			(1,399	)
Change in net assets resulting from operations		4,022			8,007
*Distributions to Shareholders—*
From and/or excess of net investment income:
Trust Shares		(3,348	)		(7,470	)
Class A Shares		(674	)		(1,936	)
Class B Shares		—			—
InterFund Shares		—			—
Change in net assets resulting from distributions to shareholders		(4,022	)		(9,406	)
*Change in net assets resulting from capital transactions*		(9,221,599	)		(16,054,701	)
Change in net assets		(9,221,599	)		(16,056,100	)
*Net Assets*
Beginning of period		82,457,584			98,513,684
End of period	$	73,235,985		$	82,457,584

Accumulated net investment income (loss) included in net assets at end of period	$	—		$	—
*Capital Transactions:*
Trust Shares
Shares sold	$	26,211,456		$	137,458,703
Dividends reinvested		—			—
Shares redeemed		(32,759,037	)		(147,344,067	)
Total Trust Shares		(6,547,581	)		(9,885,364	)
Class A Shares
Shares sold		18,108,148			76,461,653
Dividends reinvested		226			797
Shares redeemed		(20,782,392	)		(82,631,787	)
Total Class A Shares		(2,674,018	)		(6,169,337	)
Class B Shares(a)
Shares sold		—			—
Dividends reinvested		—			—
Shares redeemed		—			—
Total Class B Shares		—			—
Interfund Shares
Shares sold		—			—
Shares redeemed		—			—
Total Interfund Shares		—			—
Net change resulting from capital transactions	$	(9,221,599	)	$	(16,054,701	)
*Share Transactions:*
Trust Shares
Shares sold		26,211,456			137,458,703
Dividends reinvested		—			—
Shares redeemed		(32,759,037	)		(147,344,067	)
Total Trust Shares		(6,547,581	)		(9,885,364	)
Class A Shares
Shares sold		18,108,148			76,461,653
Dividends reinvested		226			797
Shares redeemed		(20,782,392	)		(82,631,787	)
Total Class A Shares		(2,674,018	)		(6,169,337	)
Class B Shares(a)
Shares sold		—			—
Dividends reinvested		—			—
Shares redeemed		—			—
Total InterFund Shares		—			—
Interfund Shares
Shares sold		—			—
Shares redeemed		—			—
Total Interfund Shares		—			—
Net change resulting from share transactions		(9,221,599	)		(16,054,701	)

(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, 2011			Year Ended December 31, 2010			Six Months Ended June 30, 2011			Year Ended December 31, 2010			Six Months Ended June 30, 2011			Year Ended December 31, 2010
*(Unaudited)*						*(Unaudited)*						*(Unaudited)*


$	21,405		$	46,504		$	8,658		$	23,103		$	18,127		$	36,958
	7,126			(4,591	)		(31,165	)		(14,231	)		4,260			3,808
	28,531			41,913			(22,507	)		8,872			22,387			40,766


	(10,929	)		(25,098	)		(2,795	)		(11,414	)		(14,792	)		(30,463	)
	(6,300	)		(13,109	)		(5,863	)		(11,689	)		(3,335	)		(6,686	)
	—			(10	)		—			—			—			—
	(4,176	)		(8,287	)		—			—			—			—
	(21,405	)		(46,504	)		(8,658	)		(23,103	)		(18,127	)		(37,149	)
	57,957,598			(62,920,898	)		(44,962,845	)		(56,857,307	)		(61,256,013	)		71,513,112
	57,964,724			(62,925,489	)		(44,994,010	)		(56,871,538	)		(61,251,753	)		71,516,729

	395,678,903			458,604,392			198,131,991			255,003,529			387,715,095			316,198,366
$	453,643,627		$	395,678,903		$	153,137,981		$	198,131,991		$	326,463,342		$	387,715,095

$	—		$	—		$	—		$	—		$	4,160		$	4,160


$	465,695,476		$	874,783,454		$	63,645,934		$	244,447,562		$	341,371,221		$	863,202,276
	156			380			6			22			—			—
	(447,380,209	)		(920,519,877	)		(84,515,773	)		(306,372,704	)		(392,932,401	)		(811,597,858	)
	18,315,423			(45,736,043	)		(20,869,833	)		(61,925,120	)		(51,561,180	)		51,604,418

	113,046,985			274,406,116			476,096,227			146,181,653			100,151,831			189,053,736
	4,845			10,590			3,772			6,606			469			868
	(127,271,790	)		(274,701,138	)		(500,193,011	)		(141,120,446	)		(109,847,133	)		(169,145,910	)
	(14,219,960	)		(284,432	)		(24,093,012	)		5,067,813			(9,694,833	)		19,908,694

	—			9,183			—			—			—			—
	—			10			—			—			—			—
	—			(257,733	)		—			—			—			—
	—			(248,540	)		—			—			—			—

	254,401,535			478,749,433			—			—			—			—
	(200,539,400	)		(495,401,316	)		—			—			—			—
	53,862,135			(16,651,883	)		—			—			—			—
$	57,957,598		$	(62,920,898	)	$	(44,962,845	)	$	(56,857,307	)	$	(61,256,013	)	$	71,513,112


	465,695,476			874,783,454			63,645,934			244,447,562			341,371,221			863,202,276
	156			380			6			22			—			—
	(447,380,209	)		(920,519,877	)		(84,515,773	)		(306,372,704	)		(392,932,401	)		(811,597,858	)
	18,315,423			(45,736,043	)		(20,869,833	)		(61,925,120	)		(51,561,180	)		51,604,418

	113,046,985			274,406,116			476,096,227			146,181,653			100,151,831			189,053,736
	4,845			10,590			3,772			6,606			469			868
	(127,271,790	)		(274,701,138	)		(500,193,011	)		(141,120,446	)		(109,847,133	)		(169,145,910	)
	(14,219,960	)		(284,432	)		(24,093,012	)		5,067,813			(9,694,833	)		19,908,694

	—			9,183			—			—			—			—
	—			10			—			—			—			—
	—			(257,733	)		—			—			—			—
	—			(248,540	)		—			—			—			—

	254,401,535			478,749,433			—			—			—			—
	(200,539,400	)		(495,401,316	)		—			—			—			—
	53,862,135			(16,651,883	)		—			—			—			—
	57,957,598			(62,920,898	)		(44,962,845	)		(56,857,307	)		(61,256,013	)		71,513,112

Semi-Annual Shareholder Report

Statements of Changes in Net Assets (Continued)


	Huntington Dividend Capture Fund
	Six Months Ended June 30, 2011			Year Ended December 31, 2010
	*(Unaudited)*
*Increase (Decrease) in Net Assets:*
*Operations—*
Net investment income (loss)	$	2,309,204		$	2,954,107
Net realized gain (loss) on investments, options and foreign currency transactions		7,021,692			5,296,167
Net change in unrealized appreciation/depreciation of investments and foreign currency transactions		(796,856	)		5,598,095
Change in net assets resulting from operations		8,534,040			13,848,369
*Distributions to Shareholders—*
From and/or excess of net investment income:
Trust Shares		(1,817,589	)		(2,548,196	)
Class A Shares		(331,866	)		(281,521	)
Class B Shares		—			(95,246	)
From return of capital:
Trust Shares		—			—
Class A Shares		—			—
Change in net assets resulting from distributions to shareholders		(2,149,455	)		(2,924,963	)
*Change in net assets resulting from capital transactions*		13,286,132			19,924,950
Change in net assets		19,670,717			30,848,356
*Net Assets*
Beginning of period		118,405,664			87,557,308
End of period	$	138,076,381		$	118,405,664

Accumulated net investment income (loss) included in net assets at end of period	$	188,893		$	29,144
*Capital Transactions:*
Trust Shares
Shares sold	$	19,739,031		$	28,363,588
Dividends reinvested		995,775			1,386,702
Shares redeemed		(12,060,070	)		(13,154,436	)
Total Trust Shares		8,674,736			16,595,854
Class A Shares
Shares sold		6,526,528			6,559,018
Shares sold in class consolidation(a)		—			6,422,265
Dividends reinvested		291,371			240,983
Shares redeemed		(2,206,503	)		(2,564,382	)
Total Class A Shares		4,611,396			10,657,884
Class B Shares(a)
Shares sold		—			119,022
Dividends reinvested		—			86,563
Shares redeemed in class consolidation(a)		—			(6,422,265	)
Shares redeemed		—			(1,112,108	)
Total Class B Shares		—			(7,328,788	)
Net change resulting from capital transactions	$	13,286,132		$	19,924,950
*Share Transactions:*
Trust Shares
Shares sold		2,181,126			3,514,014
Dividends reinvested		108,878			171,223
Shares redeemed		(1,314,085	)		(1,608,121	)
Total Trust Shares		975,919			2,077,116
Class A Shares
Shares sold		724,286			791,992
Shares sold in class consolidation(a)		—			840,611
Dividends reinvested		31,864			29,479
Shares redeemed		(242,327	)		(312,633	)
Total Class A Shares		513,823			1,349,449
Class B Shares(a)
Shares sold		—			14,768
Dividends reinvested		—			10,965
Shares redeemed in class consolidation(a)		—			(843,924	)
Shares redeemed		—			(139,301	)
Total Class B Shares		—			(957,492	)
Net change resulting from share transactions		1,489,742			2,469,073

(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 Global Select Markets Fund						Huntington Growth Fund						Huntington Income Equity Fund
Six Months Ended June 30, 2011			Year Ended December 31, 2010			Six Months Ended June 30, 2011			Year Ended December 31, 2010			Six Months Ended June 30, 2011			Year Ended December 31, 2010
*(Unaudited)*						*(Unaudited)*						*(Unaudited)*


$	45,221		$	92,556		$	(120,618	)	$	22,066		$	2,015,319		$	2,699,915
	1,375,438			(91,554	)		94,266			25,751,764			6,260,765			10,017,459
	(54,493	)		4,939,943			4,482,140			(13,801,489	)		1,618,023			(1,260,463	)
	1,366,166			4,940,945			4,455,788			11,972,341			9,894,107			11,456,911


	—			(392,639	)		—			(378	)		(1,738,086	)		(2,521,176	)
	—			(7,192	)		—			(19	)		(91,371	)		(104,186	)
	—			—			—			—			—			(27,815	)

	—			(50,356	)		—			—			—			—
	—			(1,144	)		—			—			—			—
	—			(451,331	)		—			(397	)		(1,829,457	)		(2,653,177	)
	6,014,848			37,484,955			2,653,935			(28,770,178	)		2,526,854			(12,420,285	)
	7,381,014			41,974,569			7,109,723			(16,798,234	)		10,591,504			(3,616,551	)

	41,975,569			1,000			132,340,323			149,138,557			107,011,700			110,628,251
$	49,356,583		$	41,975,569		$	139,450,046		$	132,340,323		$	117,603,204		$	107,011,700

$	(199,082	)	$	(244,303	)	$	(112,268	)	$	8,350		$	232,338		$	46,476


$	8,330,592		$	37,539,607		$	13,434,315		$	12,842,248		$	10,075,459		$	12,158,596
	—			237,959			—			226			903,610			1,307,009
	(2,319,092	)		(1,064,024	)		(10,454,759	)		(40,453,766	)		(8,018,086	)		(25,147,192	)
	6,011,500			36,713,542			2,979,556			(27,611,292	)		2,960,983			(11,681,587	)

	196,351			1,018,671			514,019			982,549			321,111			785,109
	—			—			—			2,079,387			—			2,244,174
	—			6,400			—			17			87,082			98,867
	(193,003	)		(253,658	)		(839,640	)		(1,598,082	)		(842,322	)		(1,111,811	)
	3,348			771,413			(325,621	)		1,463,871			(434,129	)		2,016,339

	—			—			—			47,039			—			71,030
	—			—			—			—			—			26,668
	—			—			—			(2,079,387	)		—			(2,244,174	)
	—			—			—			(590,409	)		—			(608,561	)
	—			—			—			(2,622,757	)		—			(2,755,037	)
$	6,014,848		$	37,484,955		$	2,653,935		$	(28,770,178	)	$	2,526,854		$	(12,420,285	)


	746,657			3,668,554			518,816			549,642			470,199			647,759
	—			20,873			—			11			41,656			70,566
	(204,334	)		(101,661	)		(403,246	)		(1,751,756	)		(376,237	)		(1,334,020	)
	542,323			3,587,766			115,570			(1,202,103	)		135,618			(615,695	)

	17,367			99,395			20,133			43,320			15,055			42,174
	—			—			—			101,088			—			129,347
	—			563			—			1			4,013			5,334
	(17,152	)		(24,797	)		(32,963	)		(70,602	)		(39,242	)		(59,557	)
	215			75,161			(12,830	)		73,807			(20,174	)		117,298

	—			—			—			2,254			—			3,844
	—			—			—			—			—			1,462
	—			—			—			(109,212	)		—			(130,248	)
	—			—			—			(28,409	)		—			(32,970	)
	—			—			—			(135,367	)		—			(157,912	)
	542,538			3,662,927			102,740			(1,263,663	)		115,444			(656,309	)

Semi-Annual Shareholder Report

Statements of Changes in Net Assets (Continued)


	Huntington International Equity Fund
	Six Months Ended June 30, 2011			Year Ended December 31, 2010
	*(Unaudited)*
*Increase (Decrease) in Net Assets:*
*Operations—*
Net investment income (loss)	$	2,637,623		$	3,450,695
Net realized gain (loss) on investments, options and foreign currency transactions		13,245,248			(2,780,888	)
Net change in unrealized appreciation/depreciation of investments and foreign currency transactions		(3,057,358	)		17,681,037
Change in net assets resulting from operations		12,825,513			18,350,844
*Distributions to Shareholders—*
From and/or excess of net investment income:
Trust Shares		—			(2,391,416	)
Class A Shares		—			(72,760	)
From net realized gain on investments:
Trust Shares		—			—
Class A Shares		—			—
Change in net assets resulting from distributions to shareholders		—			(2,464,176	)
*Change in net assets resulting from capital transactions*		3,047,572			(40,749,610	)
Change in net assets		15,873,085			(24,862,942	)
*Net Assets*
Beginning of period		307,428,687			332,291,629
End of period	$	323,301,772		$	307,428,687

Accumulated net investment income (loss) included in net assets at end of period	$	3,197,113		$	559,490
*Capital Transactions:*
Trust Shares
Shares sold	$	28,096,699		$	53,700,060
Dividends reinvested		—			793,877
Shares redeemed		(24,708,102	)		(95,416,225	)
Total Trust Shares		3,388,597			(40,922,288	)
Class A Shares
Shares sold		866,809			2,536,935
Shares sold in class consolidation(a)		—			1,954,659
Dividends reinvested		—			63,912
Shares redeemed		(1,207,834	)		(2,320,079	)
Total Class A Shares		(341,025	)		2,235,427
Class B Shares(a)
Shares sold		—			159,052
Shares redeemed in class consolidation(a)		—			(1,954,659	)
Shares redeemed		—			(267,142	)
Total Class B Shares		—			(2,062,749	)
Net change resulting from capital transactions	$	3,047,572		$	(40,749,610	)
*Share Transactions:*
Trust Shares
Shares sold		2,390,850			5,059,393
Dividends reinvested		—			68,977
Shares redeemed		(2,097,884	)		(9,278,730	)
Total Trust Shares		292,966			(4,150,360	)
Class A Shares
Shares sold		73,387			238,025
Shares sold in class consolidation(a)		—			205,106
Dividends reinvested		—			5,592
Shares redeemed		(104,158	)		(223,912	)
Total Class A Shares		(30,771	)		224,811
Class B Shares(a)
Shares sold		—			15,412
Shares redeemed in class consolidation(a)		—			(209,727	)
Shares redeemed		—			(26,207	)
Total Class B Shares		—			(220,522	)
Net change resulting from share transactions		262,195			(4,146,071	)

(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 Macro
100 Fund

Huntington Mid Corp
America Fund

Huntington New
Economy Fund

Six Months Ended
June 30,
2011

Year Ended
December 31,
2010

Six Months Ended
June 30,
2011

Year Ended
December 31,
2010

Six Months Ended
June 30,
2011

Year Ended
December 31,
2010

(Unaudited)

25,865

42,884

89,049

82,680

(275,865

)

(472,632

)

437,371

(107,369

)

10,379,679

5,833,549

7,671,600

1,785,919

1,310,542

5,782,446

581,426

23,282,399

(7,025,269

)

6,261,203

1,773,778

5,717,961

11,050,154

29,198,628

370,466

7,574,490

—

(39,179

)

—

(62,512

)

—

(4,468,719

)

—

(236,519

)

—

(39,179

)

—

(4,767,750

)

—

6,799,329

9,641,517

(697,691

)

(14,727,099

)

(3,392,577

)

(2,751,500

)

8,573,107

15,320,299

10,352,463

9,703,779

(3,022,111

)

4,822,990

45,446,239

30,125,940

148,795,621

139,091,842

55,881,858

51,058,868

54,019,346

45,446,239

159,148,084

148,795,621

52,859,747

55,881,858

31,881

6,016

109,217

20,168

(266,777

)

9,088

10,193,886

17,038,052

13,562,952

16,843,639

3,796,073

9,198,803

—

17,810

—

1,560,512

—

(3,242,884

)

(7,140,435

)

(13,994,320

)

(32,000,397

)

(6,639,670

)

(11,131,548

)

6,951,002

9,915,427

(431,368

)

(13,596,246

)

(2,843,597

)

(1,932,745

)

136,633

173,176

392,003

871,497

274,634

530,957

—

807,433

—

3,055,265

—

1,448,141

—

229,929

—

(288,306

)

(288,184

)

(658,326

)

(1,452,171

)

(823,614

)

(1,063,887

)

(151,673

)

692,425

(266,323

)

2,704,520

(548,980

)

915,211

—

19,109

—

48,822

—

12,188

—

(807,433

)

—

(3,055,265

)

—

(1,448,141

)

—

(178,011

)

—

(828,930

)

—

(298,013

)

—

(966,335

)

—

(3,835,373

)

—

(1,733,966

)

6,799,329

9,641,517

(697,691

)

(14,727,099

)

(3,392,577

)

(2,751,500

)

1,016,456

1,939,161

830,202

1,213,070

342,541

952,401

—

1,836

—

101,242

—

(323,665

)

(809,687

)

(847,890

)

(2,300,605

)

(599,159

)

(1,147,077

)

692,791

1,131,310

(17,688

)

(986,293

)

(256,618

)

(194,676

)

13,771

20,307

24,715

63,383

25,467

55,651

—

100,677

—

240,951

—

166,453

—

15,287

—

(29,030

)

(34,038

)

(41,137

)

(107,799

)

(77,264

)

(112,849

)

(15,259

)

86,946

(16,422

)

211,822

(51,797

)

109,255

—

2,222

—

3,733

—

1,350

—

(103,120

)

—

(253,129

)

—

(176,603

)

—

(21,618

)

—

(64,238

)

—

(33,135

)

—

(122,516

)

—

(313,634

)

—

(208,388

)

677,532

1,095,740

(34,110

)

(1,088,105

)

(308,415

)

(293,809

)

(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
	Six Months Ended June 30, 2011			Year Ended December 31, 2010
	*(Unaudited)*
*Increase (Decrease) in Net Assets:*
*Operations—*
Net investment income (loss)	$	496,768		$	212,161
Net realized gain (loss) on investments, options and foreign currency transactions		(1,067,175	)		(2,112,315	)
Net change in unrealized appreciation/depreciation of investments and foreign currency transactions		3,204,235			20,723,483
Change in net assets resulting from operations		2,633,828			18,823,329
*Distributions to Shareholders—*
From and/or excess of net investment income:
Trust Shares		—			(457,786	)
Class A Shares		—			(7,157	)
Change in net assets resulting from distributions to shareholders		—			(464,943	)
*Change in net assets resulting from capital transactions*		15,000,316			488,388
Change in net assets		17,634,144			18,846,774
*Net Assets*
Beginning of period		92,865,378			74,018,604
End of period	$	110,499,522		$	92,865,378

Accumulated net investment income (loss) included in net assets at end of period	$	119,368		$	(377,400	)
*Capital Transactions:*
Trust Shares
Shares sold	$	25,126,105		$	26,207,190
Dividends reinvested		—			153,667
Shares redeemed		(10,398,069	)		(26,161,352	)
Total Trust Shares		14,728,036			199,505
Class A Shares
Shares sold		545,586			525,252
Shares sold in class consolidation(a)		—			262,045
Dividends reinvested		—			6,718
Shares redeemed		(273,306	)		(270,600	)
Total Class A Shares		272,280			523,415
Class B Shares(a)
Shares sold		—			74,092
Shares redeemed in class consolidation(a)		—			(262,045	)
Shares redeemed		—			(46,579	)
Total Class B Shares		—			(234,532	)
Net change resulting from capital transactions	$	15,000,316		$	488,388
*Share Transactions:*
Trust Shares
Shares sold		3,102,413			3,923,406
Dividends reinvested		—			19,281
Shares redeemed		(1,249,521	)		(3,891,127	)
Total Trust Shares		1,852,892			51,560
Class A Shares
Shares sold		64,805			77,710
Shares sold in class consolidation(a)		—			44,566
Dividends reinvested		—			842
Shares redeemed		(33,303	)		(39,790	)
Total Class A Shares		31,502			83,328
Class B Shares(a)
Shares sold		—			11,113
Shares redeemed in class consolidation(a)		—			(44,871	)
Shares redeemed		—			(7,285	)
Total Class B Shares		—			(41,043	)
Net change resulting from share transactions		1,884,394			93,845

(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 Rotating Markets Fund						Huntington Situs Fund						Huntington Technical Opportunities Fund
Six Months Ended June 30, 2011			Year Ended December 31, 2010			Six Months Ended June 30, 2011			Year Ended December 31, 2010			Six Months Ended June 30, 2011			Year Ended December 31, 2010
*(Unaudited)*						*(Unaudited)*						*(Unaudited)*


$	251,876		$	101,066		$	(550,882	)	$	(342,777	)	$	(15,633	)	$	(48,226	)
	162,594			3,306,337			7,672,355			7,808,701			446,787			1,468,483
	2,594,758			(1,033,929	)		6,520,262			36,255,243			(185,716	)		(680,918	)
	3,009,228			2,373,474			13,641,735			43,721,167			245,438			739,339


	—			(2,522	)		—			—			—			(2,333	)
	—			(177	)		—			—			—			(24	)
	—			(2,699	)		—			—			—			(2,357	)
	(1,079,933	)		(7,034,927	)		(2,386,471	)		2,298,252			349,872			232,132
	1,929,295			(4,664,152	)		11,255,264			46,019,419			595,310			969,114

	39,329,224			43,993,376			207,301,168			161,281,749			10,679,698			9,710,584
$	41,258,519		$	39,329,224		$	218,556,432		$	207,301,168		$	11,275,008		$	10,679,698

$	352,940		$	101,064		$	(527,819	)	$	23,063		$	(15,633	)	$	—


$	2,029,674		$	3,675,994		$	25,194,846		$	39,896,511		$	427,012		$	1,282,064
	—			1,479			—			—			—			1,998
	(2,886,964	)		(10,955,692	)		(27,895,887	)		(36,552,768	)		(218,388	)		(1,084,074	)
	(857,290	)		(7,278,219	)		(2,701,041	)		3,343,743			208,624			199,988

	178,122			748,046			3,636,680			4,703,589			171,461			47,253
	—			420,143			—			3,002,021			—			4,906
	—			167			—			—			—			23
	(400,765	)		(699,394	)		(3,322,110	)		(5,625,833	)		(30,213	)		(15,132	)
	(222,643	)		468,962			314,570			2,079,777			141,248			37,050

	—			232,135			—			208,548			—			—
	—			(420,143	)		—			(3,002,021	)		—			(4,906	)
	—			(37,662	)		—			(331,795	)		—			—
	—			(225,670	)		—			(3,125,268	)		—			(4,906	)
$	(1,079,933	)	$	(7,034,927	)	$	(2,386,471	)	$	2,298,252		$	349,872		$	232,132


	179,700			371,830			1,192,945			2,346,760			52,832			167,891
	—			157			—			—			—			293
	(251,629	)		(1,072,809	)		(1,318,348	)		(2,141,099	)		(25,702	)		(145,505	)
	(71,929	)		(700,822	)		(125,403	)		205,661			27,130			22,679

	15,658			74,095			177,224			281,058			20,780			6,236
	—			45,717			—			196,082			—			710
	—			18			—			—			—			3
	(35,856	)		(68,791	)		(163,318	)		(334,692	)		(3,678	)		(2,051	)
	(20,198	)		51,039			13,906			142,448			17,102			4,898

	—			23,347			—			13,217			—			—
	—			(46,476	)		—			(205,056	)		—			(714	)
	—			(3,822	)		—			(21,145	)		—			—
	—			(26,951	)		—			(212,984	)		—			(714	)
	(92,127	)		(676,734	)		(111,497	)		135,125			44,232			26,863

Semi-Annual Shareholder Report

Statements of Changes in Net Assets (Continued)


	Huntington Fixed Income Securities Fund
	Six Months Ended June 30, 2011			Year Ended December 31, 2010
	*(Unaudited)*
*Increase (Decrease) in Net Assets:*
*Operations—*
Net investment income	$	3,966,832		$	7,957,533
Net realized gain (loss) on investments, options and foreign currency transactions		1,930,818			1,872,593
Net change in unrealized appreciation/depreciation of investments and foreign currency transactions		138,572			4,051,840
Change in net assets resulting from operations		6,036,222			13,881,966
*Distributions to Shareholders—*
From and/or excess of net investment income:
Trust Shares		(3,867,040	)		(7,801,926	)
Class A Shares		(99,955	)		(159,981	)
Class B Shares		—			(23,043	)
From net realized gain on investments:
Trust Shares		—			(350,955	)
Class A Shares		—			(10,945	)
Change in net assets resulting from distributions to shareholders		(3,966,995	)		(8,346,850	)
*Change in net assets resulting from capital transactions*		(9,261,149	)		51,868,990
Change in net assets		(7,191,922	)		57,404,106
*Net Assets*
Beginning of period		292,366,202			234,962,096
End of period	$	285,174,280		$	292,366,202

Accumulated net investment income (loss) included in net assets at end of period	$	19,716		$	19,879
*Capital Transactions:*
Trust Shares
Shares sold	$	29,666,064		$	89,304,830
Dividends reinvested		1,783,390			3,524,347
Shares redeemed		(39,791,952	)		(43,892,319	)
Total Trust Shares		(8,342,498	)		48,936,858
Class A Shares
Shares sold		735,676			5,043,132
Shares sold in class consolidation(a)		—			1,838,391
Dividends reinvested		81,390			135,103
Shares redeemed		(1,735,717	)		(2,044,653	)
Total Class A Shares		(918,651	)		4,971,973
Class B Shares(a)
Shares sold		—			74,087
Dividends reinvested		—			19,645
Shares redeemed in class consolidation(a)		—			(1,838,391	)
Shares redeemed		—			(295,182	)
Total Class B Shares		—			(2,039,841	)
Net change resulting from capital transactions	$	(9,261,149	)	$	51,868,990
*Share Transactions:*
Trust Shares
Shares sold		1,341,733			4,014,079
Dividends reinvested		80,291			158,026
Shares redeemed		(1,797,498	)		(1,976,293	)
Total Trust Shares		(375,474	)		2,195,812
Class A Shares
Shares sold		33,223			225,399
Shares sold in class consolidation(a)		—			82,108
Dividends reinvested		3,665			6,041
Shares redeemed		(78,279	)		(92,044	)
Total Class A Shares		(41,391	)		221,504
Class B Shares(a)
Shares sold		—			3,388
Dividends reinvested		—			894
Shares redeemed in class consolidation(a)		—			(82,219	)
Shares redeemed		—			(13,440	)
Total Class B Shares		—			(91,377	)
Net change resulting from share transactions		(416,865	)		2,325,939

(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 Intermediate
Government Income Fund

Huntington Mortgage
Securities Fund

Huntington Ohio
Tax-Free Fund

Six Months Ended
June 30,
2011

Year Ended
December 31,
2010

Six Months Ended
June 30,
2011

Year Ended
December 31,
2010

Six Months Ended
June 30,
2011

Year Ended
December 31,
2010

(Unaudited)

1,657,965

3,232,598

1,685,683

3,023,897

550,008

1,161,516

(6,852

)

130,740

(167,889

)

185,593

147,357

346,571

658,253

1,707,229

1,328,243

2,287,489

643,807

(671,744

)

2,309,366

5,070,567

2,846,037

5,496,979

1,341,172

836,343

(1,604,296

)

(3,187,112

)

(1,584,608

)

(3,105,050

)

(522,868

)

(1,099,620

)

(53,669

)

(85,429

)

(59,521

)

(93,677

)

(27,627

)

(54,422

)

—

(9,667

)

—

(3,441

)

—

(7,662

)

—

(259,371

)

—

(159,909

)

—

(9,101

)

—

(10,438

)

(1,657,965

)

(3,550,680

)

(1,644,129

)

(3,202,168

)

(550,495

)

(1,332,051

)

12,417,445

4,776,641

1,326,468

(4,836,073

)

(2,686,794

)

7,086,223

13,068,846

6,296,528

2,528,376

(2,541,262

)

(1,896,117

)

6,590,515

120,144,442

113,847,914

100,741,978

103,283,240

51,933,330

45,342,815

133,213,288

120,144,442

103,270,354

100,741,978

50,037,213

51,933,330

47,429

247,602

206,048

(674

)

(187

)

20,079,624

21,411,140

9,113,602

14,825,753

4,792,531

14,445,882

832,062

1,759,548

747,500

1,398,109

55,705

151,156

(8,285,452

)

(19,954,994

)

(8,650,778

)

(21,748,608

)

(6,898,540

)

(7,958,085

)

12,626,234

3,215,694

1,210,324

(5,524,746

)

(2,050,304

)

6,638,953

591,252

2,386,504

465,115

1,156,292

168,130

918,341

—

902,507

—

560,977

—

897,826

45,019

69,109

50,538

75,400

23,190

53,999

(845,060

)

(903,594

)

(399,509

)

(551,603

)

(827,810

)

(386,771

)

(208,789

)

2,454,526

116,144

1,241,066

(636,490

)

1,483,395

—

40,750

—

42,377

—

6,300

—

8,138

—

3,369

—

5,652

—

(902,507

)

—

(560,977

)

—

(897,826

)

—

(39,960

)

—

(37,162

)

—

(150,251

)

—

(893,579

)

—

(552,393

)

—

(1,036,125

)

12,417,445

4,776,641

1,326,468

(4,836,073

)

(2,686,794

)

7,086,223

1,850,981

1,953,280

1,063,790

1,624,092

226,610

675,066

76,347

160,279

81,497

152,933

2,631

7,081

(760,772

)

(1,827,782

)

(1,010,748

)

(2,367,709

)

(326,593

)

(371,028

)

1,166,556

285,777

134,539

(590,684

)

(97,352

)

311,119

54,441

216,616

50,675

124,588

7,966

42,824

—

81,972

—

61,042

—

42,092

4,133

6,279

5,475

8,196

1,097

2,529

(77,776

)

(82,097

)

(43,427

)

(60,101

)

(39,189

)

(17,844

)

(19,202

)

222,770

12,723

133,725

(30,126

)

69,601

—

3,759

—

4,655

—

297

—

748

—

370

—

265

—

(81,897

)

—

(61,242

)

—

(42,092

)

—

(3,687

)

—

(4,068

)

—

(7,059

)

—

(81,077

)

—

(60,285

)

—

(48,589

)

1,147,354

427,470

147,262

(517,244

)

(127,478

)

332,131

(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 Securities
	Six Months Ended June 30, 2011			Year Ended December 31, 2010
	*(Unaudited)*
*Increase (Decrease) in Net Assets:*
*Operations—*
Net investment income	$	1,589,459		$	3,414,557
Net realized gain on investments, options and foreign currency transactions		527,928			1,408,501
Net change in unrealized appreciation/depreciation of investments and foreign currency transactions		755,418			(231,473	)
Change in net assets resulting from operations		2,872,805			4,591,585
*Distributions to Shareholders—*
From and/or excess of net investment income:
Trust Shares		(1,541,647	)		(3,341,841	)
Class A Shares		(47,812	)		(72,716	)
From net realized gain on investments:
Class A Shares		—			—
Change in net assets resulting from distributions to shareholders		(1,589,459	)		(3,414,557	)
*Change in net assets resulting from capital transactions*		31,519,149			52,480,998
Change in net assets		32,802,495			53,658,026
*Net Assets*
Beginning of period		204,117,992			150,459,966
End of period	$	236,920,487		$	204,117,992

Accumulated net investment income (loss) included in net assets at end of period	$	—		$	—
*Capital Transactions:*
Trust Shares
Shares sold	$	46,738,093		$	74,732,503
Dividends reinvested		437,133			943,045
Shares redeemed		(17,004,612	)		(29,773,510	)
Total Trust Shares		30,170,614			45,902,038
Class A Shares
Shares sold		1,929,634			8,001,574
Dividends reinvested		46,622			69,097
Shares redeemed		(627,721	)		(1,491,711	)
Total Class A Shares		1,348,535			6,578,960
Net change resulting from capital transactions	$	31,519,149		$	52,480,998
*Share Transactions:*
Trust Shares
Shares sold		2,339,776			3,725,784
Dividends reinvested		21,829			47,048
Shares redeemed		(849,628	)		(1,487,987	)
Total Trust Shares		1,511,977			2,284,845
Class A Shares
Shares sold		96,109			399,203
Dividends reinvested		2,329			3,436
Shares redeemed		(31,310	)		(74,625	)
Total Class A Shares		67,128			328,014
Net change resulting from share transactions		1,579,105			2,612,859

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

Semi-Annual Shareholder Report

Huntington Balanced
Allocation Fund

Huntington Conservative
Allocation Fund

Huntington Growth
Allocation Fund

Six Months Ended
June 30,
2011

Year Ended
December 31,
2010

Six Months Ended
June 30,

2011

Year Ended
December 31,
2010

Six Months Ended
June 30,
2011

Year Ended
December 31,
2010

(Unaudited)

99,884

177,641

104,741

207,145

38,180

96,921

258,703

36,657

89,002

53,760

256,223

37,120

663,507

1,693,127

171,694

455,584

612,095

1,653,097

1,022,094

1,907,425

365,437

716,489

906,498

1,787,138

—

(95,773

)

(177,167

)

(101,874

)

(206,601

)

—

(96,753

)

—

(92,266

)

—

(63,238

)

—

(120,311

)

(95,773

)

(269,433

)

(101,874

)

(269,839

)

—

(217,064

)

2,986,870

9,681,633

503,678

3,144,837

2,913,578

4,639,422

3,913,191

11,319,625

767,241

3,591,487

3,820,076

6,209,496

24,655,985

13,336,360

14,839,881

11,248,394

19,132,034

12,922,538

28,569,176

24,655,985

15,607,122

14,839,881

22,952,110

19,132,034

4,674

563

3,572

705

38,382

202

—

4,871,421

11,109,153

1,215,702

3,498,712

3,447,586

5,456,006

93,398

263,147

100,254

267,039

—

212,739

(1,977,949

)

(1,690,667

)

(812,278

)

(620,914

)

(534,008

)

(1,029,323

)

2,986,870

9,681,633

503,678

3,144,837

2,913,578

4,639,422

2,986,870

9,681,633

503,678

3,144,837

2,913,578

4,639,422

—

412,058

1,018,862

112,726

331,611

280,673

494,932

7,809

24,176

9,257

25,340

—

19,343

(166,815

)

(153,268

)

(75,568

)

(59,082

)

(43,612

)

(93,091

)

253,052

889,770

46,415

297,869

237,061

421,184

253,052

889,770

46,415

297,869

237,061

421,184

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 (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 TAX-FREE MONEY MARKET FUND

Trust Shares

2006

1.00

0.02

—

(2)

0.02

(0.02

)

—

(0.02

)

2007

1.00

0.03

—

(2)

0.03

(0.03

)

—

(0.03

)

2008

1.00

0.02

—

(2)

0.02

(0.02

)

—

(0.02

)

2009

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2010

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2011(3)

1.00

—

(2)

—

(2)

—

(2)

—

(2)

Class A Shares

2006

1.00

0.02

—

(2)

0.02

(0.02

)

—

(0.02

)

2007

1.00

0.02

—

(2)

0.02

(0.02

)

—

(0.02

)

2008

1.00

0.02

—

(2)

0.02

(0.02

)

—

(0.02

)

2009

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2010

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2011(3)

1.00

—

(2)

—

(2)

—

(2)

—

(2)

HUNTINGTON MONEY MARKET FUND

Trust Shares

2006

1.00

0.04

—

(2)

0.04

(0.04

)

—

(0.04

)

2007

1.00

0.04

—

(2)

0.04

(0.04

)

—

(0.04

)

2008

1.00

0.02

—

(2)

0.02

(0.02

)

—

(0.02

)

2009

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2010

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2011(3)

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

Class A Shares

2006

1.00

0.04

—

(2)

0.04

(0.04

)

—

(0.04

)

2007

1.00

0.04

—

(2)

0.04

(0.04

)

—

(0.04

)

2008

1.00

0.01

—

(2)

0.01

(0.01

)

—

(0.01

)

2009

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2010

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2011(3)

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

InterFund Shares

2006

1.00

0.04

—

(2)

0.04

(0.04

)

—

(0.04

)

2007

1.00

0.05

—

(2)

0.05

(0.05

)

—

(0.05

)

2008

1.00

0.02

—

(2)

0.02

(0.02

)

—

(0.02

)

2009

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2010

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2011(3)

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

(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, 2011 (Unaudited).

(4)

Percentage is less than 0.005%.

(5)

Not Annualized.

(6)

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

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,
end of
period
(000 omitted)

$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

0.01

0.44

0.01

0.89

66,919

$1.00

0.00

%(4)(5)

0.37

%(6)

0.01

%(6)

0.91

%(6)

60,371

$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

0.01

0.45

0.01

1.16

15,539

$1.00

0.00

%(4)(5)

0.37

%(6)

0.01

%(6)

1.16

%(6)

12,865

$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

0.31

0.01

0.88

214,981

$1.00

0.00

%(4)(5)

0.28

%(6)

0.01

%(6)

0.84

%(6)

233,300

$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

0.32

0.01

1.13

134,974

$1.00

0.00

%(4)(5)

0.28

%(6)

0.01

%(6)

1.09

%(6)

120,756

$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

0.31

0.01

0.63

45,724

1.00

0.00

%(4)(5)

0.28

%(6)

0.01

%(6)

0.59

%(6)

99,588

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 (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 OHIO MUNICIPAL MONEY MARKET FUND

Trust Shares

2006

1.00

0.03

—

(2)

0.03

(0.03

)

—

(0.03

)

2007

1.00

0.03

—

(2)

0.03

(0.03

)

—

(0.03

)

2008

1.00

0.02

—

(2)

0.02

(0.02

)

—

(0.02

)

2009

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2010

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2011(3)

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

Class A Shares

2006

1.00

0.02

—

(2)

0.02

(0.02

)

—

(0.02

)

2007

1.00

0.03

—

(2)

0.03

(0.03

)

—

(0.03

)

2008

1.00

0.02

—

(2)

0.02

(0.02

)

—

(0.02

)

2009

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2010

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2011(3)

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

HUNTINGTON U.S. TREASURY MONEY MARKET FUND

Trust Shares

2006

1.00

0.04

—

(2)

0.04

(0.04

)

—

(0.04

)

2007

1.00

0.04

—

(2)

0.04

(0.04

)

—

(2)

(0.04

)

2008

1.00

0.01

—

(2)

0.01

(0.01

)

—

(0.01

)

2009

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2010

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2011(3)

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

Class A Shares

2006

1.00

0.04

—

(2)

0.04

(0.04

)

—

(0.04

)

2007

1.00

0.04

—

(2)

0.04

(0.04

)

—

(2)

(0.04

)

2008

1.00

0.01

—

(2)

0.01

(0.01

)

—

(0.01

)

2009

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2010

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

2011(3)

1.00

—

(2)

—

(2)

—

(2)

—

(2)

—

(2)

(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, 2011 (Unaudited).

(4)

Percentage is less than 0.005%.

(5)

Not Annualized.

(6)

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

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,
end of
period
(000 omitted)

$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

0.01

0.42

0.01

0.88

81,023

$1.00

0.00

%(4)(5)

0.33

%(6)

0.01

%(6)

0.86

%(6)

60,143

$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

0.01

0.41

0.01

1.12

117,109

$1.00

0.00

%(4)(5)

0.33

%(6)

0.01

%(6)

1.11

%(6)

92,995

$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

0.15

0.01

0.76

312,870

$1.00

0.00

%(4)(5)

0.10

%(6)

0.01

%(6)

0.74

%(6)

261,312

$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

0.15

0.01

1.01

74,845

$1.00

0.00

%(4)(5)

0.10

%(6)

0.01

%(6)

0.99

%(6)

65,151

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 (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 DIVIDEND CAPTURE FUND

Trust Shares

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

7.86

0.25

0.83

1.08

(0.25

)

—

(0.25

)

2011(8)

8.69

0.15

0.45

0.60

(0.15

)

—

(0.15

)

Class A Shares

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

7.86

0.23

0.83

1.06

(0.23

)

—

(0.23

)

2011(8)

8.69

0.14

0.45

0.59

(0.14

)

—

(0.14

)

HUNTINGTON GLOBAL SELECT MARKETS FUND

Trust Shares

2009(4)

10.00

—

(5)

—

(5)

—

(5)

—

2010

10.00

0.03

1.55

1.58

(0.11

)

—

(0.01

)

(0.12

)

2011(8)

11.46

0.02

0.26

0.28

—

Class A Shares

2009(4)

10.00

—

(5)

—

(5)

—

(5)

—

2010

10.00

0.01

1.53

1.54

(0.09

)

—

(0.02

)

(0.11

)

2011(8)

11.43

0.01

0.26

0.27

—

(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)

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

(5)

Amount is less than $0.005.

(6)

Not Annualized.

(7)

Computed on an annualized basis.

(8)

Six months ended June 30, 2011 (Unaudited).

(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,
end of
period
(000 omitted)

Portfolio
turnover
rate(3)

$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

$8.69

13.99

1.40

3.05

1.40

100,622

115

$9.14

6.88

%(6)

1.34

%(7)

3.54

%(7)

1.34

%(7)

114,689

%(6)

$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

$8.69

13.72

1.64

2.82

1.64

17,784

115

$9.14

6.75

%(6)

1.59

%(7)

3.32

%(7)

1.59

%(7)

23,387

%(6)

$10.00

0.00

%(6)

1.83

%(7)

(1.46

)%(7)

1.83

%(7)

—

%(6)

$11.46

15.85

1.90

0.40

2.19

41,116

$11.74

2.44

%(6)

1.74

%(7)

0.20

%(7)

1.74

%(7)

48,474

%(6)

$10.00

0.00

%(6)

2.19

%(7)

(2.92

)%(7)

2.19

%(7)

—

%(6)

$11.43

15.38

2.16

0.20

2.44

860

$11.70

2.36

%(6)

1.99

%(7)

0.01

%(7)

1.99

%(7)

882

%(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

Distributions
from return
of capital

Total
distributions

HUNTINGTON GROWTH FUND

Trust Shares

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

23.17

0.01

2.36

2.37

—

(4)

—

(4)

2011(5)

25.54

(0.02

)

0.87

0.85

—

Class A Shares

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

22.59

(0.03

)

2.27

2.24

—

(4)

—

(4)

2011(5)

24.83

(0.02

)

0.81

0.79

—

HUNTINGTON INCOME EQUITY FUND

Trust Shares

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

0.55

(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

18.65

0.49

1.62

2.11

(0.48

)

—

(0.48

)

2011(5)

20.28

0.38

1.50

1.88

(0.35

)

—

(0.35

)

Class A Shares

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

18.66

0.44

1.62

2.06

(0.43

)

—

(0.43

)

2011(5)

20.29

0.38

1.47

1.85

(0.32

)

—

(0.32

)

(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)

The portfolio turnover rate increased significantly during the period. This increase was attributable to changes in equity management staff, cash flows into and 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, 2011 (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, end of period (000 omitted)		Portfolio turnover rate(2)


$	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	%
$	25.54		10.23	%		1.23	%		0.04	%		1.23	%	$	123,809		292	%
$	26.39		3.33	%(6)		1.18	%(7)		(0.17	)%(7)		1.18	%(7)	$	130,976		78	%(6)

$	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	%
$	24.83		9.92	%		1.47	%		(0.15	)%		1.47	%	$	8,532		292	%
$	25.62		3.18	%(6)		1.43	%(7)		(0.37	)%(7)		1.43	%(7)	$	8,474		78	%(6)


$	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	%
$	20.28		11.59	%		1.22	%		2.59	%		1.22	%	$	101,076		89	%
$	21.81		9.28	%(6)		1.19	%(7)		3.61	%(7)		1.19	%(7)	$	111,660		83	%(6)

$	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	%
$	20.29		11.31	%		1.47	%		2.39	%		1.47	%	$	5,935		89	%
$	21.82		9.14	%(6)		1.44	%(7)		3.33	%(7)		1.44	%(7)	$	5,943		83	%(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

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

10.79

0.13

0.70

0.83

(0.09

)

—

(0.09

)

2011(5)

11.53

0.10

0.38

0.48

—

Class A Shares

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

10.72

0.08

0.73

0.81

(0.08

)

—

(0.08

)

2011(5)

11.45

0.08

0.38

0.46

—

HUNTINGTON MACRO 100 FUND

Trust Shares

2006

11.31

—

(3)

0.77

—

(0.24

)

(0.24

)

2007

11.84

—

(3)

(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

8.39

0.01

1.30

1.31

(0.01

)

—

(0.01

)

2011(5)

9.69

—

(3)

0.37

—

Class A Shares

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

—

(3)

1.85

—

2010

8.30

(0.01

)

1.28

1.27

—

2011(5)

9.57

—

(3)

0.36

—

(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)

The major cause of increase to portfolio turnover was changes made to the portfolio by the management team based upon changing macro-economic fundamentals (Unaudited).

(5)

Six months ended June 30, 2011 (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, end of period (000 omitted)		Portfolio turnover rate(2)


$	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	%
$	11.53		7.72	%		1.59	%		1.14	%		1.59	%	$	296,797		41	%
$	12.01		4.16	%(6)		1.56	%(7)		1.69	%(7)		1.56	%(7)	$	312,610		22	%(6)

$	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	%
$	11.45		7.54	%		1.84	%		0.86	%		1.84	%	$	10,631		41	%
$	11.91		4.02	%(6)		1.81	%(7)		1.41	%(7)		1.81	%(7)	$	10,692		22	%(6)


$	11.84		6.79	%		1.43	%		0.04	%		1.43	%	$	42,758		222	%(4)
$	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	%(4)
$	8.39		29.15	%		1.55	%		0.28	%		1.55	%	$	28,278		10	%
$	9.69		15.60	%		1.45	%		0.13	%		1.45	%	$	43,631		27	%
$	10.06		3.82	%(6)		1.48	%(7)		0.12	%(7)		1.48	%(7)	$	52,287		9	%(6)

$	11.76		6.55	%		1.68	%		(0.23	)%		1.68	%	$	3,189		222	%(4)
$	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	%(4)
$	8.30		28.68	%		1.80	%		0.06	%		1.80	%	$	853		10	%
$	9.57		15.30	%		1.69	%		(0.09	)%		1.69	%	$	1,816		27	%
$	9.93		3.76	%(6)		1.73	%(7)		(0.14	)%(7)		1.73	%(7)	$	1,732		9	%(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

Distributions
from return
of capital

Total
distributions

HUNTINGTON MID CORP AMERICA FUND

Trust Shares

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

13.13

0.01

3.00

3.01

(0.01

)

(0.50

)

—

(0.51

)

2011(4)

15.63

0.01

1.14

1.15

—

Class A Shares

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

12.85

(0.01

)

2.91

2.90

—

(0.50

)

—

(0.50

)

2011(4)

15.25

(0.01

)

1.11

1.10

—

HUNTINGTON NEW ECONOMY FUND

Trust Shares

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

)(8)

(7.97

)

(8.01

)

—

(0.01

)

(0.01

)

2009

6.71

(0.03

)

2.66

2.63

—

2010

9.34

(0.09

)

1.53

1.44

—

2011(4)

10.78

(0.05

)

0.11

0.06

—

Class A Shares

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

)(8)

(7.81

)

(7.88

)

—

(0.01

)

(0.01

)

2009

6.56

(0.05

)

2.60

2.55

—

2010

9.11

(0.10

)

1.48

1.38

—

2011(4)

10.49

(0.07

)

0.11

0.04

—

��

—

(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, 2011 (Unaudited).

(5)

Not Annualized.

(6)

Computed on an annualized basis.

(7)

(8)

Per share net investment income (loss) has been calculated using the average 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, end of period (000 omitted)		Portfolio turnover rate(2)


$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	%
$15.63		22.94	%		1.36	%		0.08	%		1.36	%	$	141,282		19	%
$16.78		7.36	%(5)		1.31	%(6)		0.13	%(6)		1.31	%(6)	$	151,362		9	%(5)

$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	%
$15.25		22.61	%		1.61	%		(0.13	)%		1.61	%	$	7,513		19	%
$16.35		7.21	%(5)		1.56	%(6)		(0.14	)%(6)		1.56	%(6)	$	7,786		9	%(5)


$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	%(7)
$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	%
$10.78		15.42	%		1.55	%		(0.86	)%		1.55	%	$	50,583		256	%
$10.84		0.56	%(5)		1.52	%(6)		(0.97	)%(6)		1.52	%(6)	$	48,083		162	%(5)

$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	%(7)
$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	%
$10.49		15.15	%		1.80	%		(1.11	)%		1.80	%	$	5,299		256	%
$10.53		0.38	%(5)		1.77	%(6)		(1.21	)%(6)		1.77	%(6)	$	4,776		162	%(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

6.42

0.02

1.59

1.61

(0.04

)

—

(0.04

)

2011(8)

7.99

0.04

0.17

0.21

—

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

6.43

0.01

1.59

1.60

(0.03

)

—

(0.03

)

2011(8)

8.00

0.03

(0.37

)

(0.34

)

—

HUNTINGTON ROTATING MARKETS FUND

Trust Shares

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

10.23

0.03

0.59

0.62

—

(10)

—

(10)

2011(8)

10.85

0.07

0.76

0.83

—

Class A Shares

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

10.18

0.01

0.59

0.60

—

(10)

—

(10)

2011(8)

10.78

0.06

0.75

0.81

—

(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 (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 shares method.

(8)

Six months ended June 30, 2011 (Unaudited).

(9)

(10)

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

Net Assets,
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

$7.99

25.09

1.35

%(5)

0.27

1.35

%(5)

90,813

$8.20

2.38

%(4)

1.36

%(5)(6)

1.03

%(6)

1.36

%(5)(6)

108,293

%(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

$8.00

24.85

1.60

%(5)

0.03

1.60

%(5)

2,052

$7.66

2.25

%(4)

1.61

%(5)(6)

0.74

%(6)

1.61

%(5)(6)

2,206

%(4)

$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

$10.85

6.07

1.19

%(5)

0.27

1.19

%(5)

36,729

250

$11.68

7.65

%(4)

1.23

%(5)(6)

1.26

%(6)

1.23

%(5)(6)

38,697

—

%(4)

$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

$10.78

5.90

1.43

%(5)

0.09

1.43

%(5)

2,600

250

$11.59

7.51

%(4)

1.48

%(5)(6)

1.01

%(6)

1.48

%(5)(6)

2,562

—

%(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 SITUS FUND

Trust Shares

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

15.95

(0.03

)

4.29

4.26

—

2011(3)

20.21

(0.05

)

1.39

1.34

—

Class A Shares

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

15.64

(0.06

)

4.20

4.14

—

2011(3)

19.78

(0.07

)

1.35

1.28

—

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

7.67

(0.04

)

0.63

0.59

—

(6)

—

(6)

2011(3)

8.26

(0.01

)

0.19

0.18

—

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

7.65

(0.05

)

0.62

0.57

—

(6)

—

(6)

2011(3)

8.22

(0.01

)

0.17

0.16

—

(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, 2011 (Unaudited).

(4)

Not Annualized.

(5)

Computed on an annualized basis.

(6)

Amount is less than $0.005.

(7)

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

(8)

Per share net investment income (loss) has been calculated using the average 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,
end of
period
(000 omitted)

Portfolio
turnover
rate(2)

$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

$20.21

26.71

1.36

(0.16

1.36

183,311

$21.55

6.63

%(4)

1.32

%(5)

(0.48

)%(5)

1.32

%(5)

192,720

%(4)

$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

$19.78

26.47

1.61

(0.38

1.61

23,990

$21.06

6.47

%(4)

1.57

%(5)

(0.72

)%(5)

1.57

%(5)

25,837

%(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

$8.26

7.72

1.75

(0.49

1.75

10,574

436

$8.44

2.18

%(4)

2.16

%(5)

(0.29

)%(5)

2.16

%(5)

11,024

109

%(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

$8.22

7.48

1.98

(0.69

1.98

106

436

$8.38

1.95

%(4)

2.49

%(5)

(0.28

)%(5)

2.49

%(5)

251

109

%(4)

Semi-Annual Shareholder Report

Financial Highlights (Continued)

Income Funds

(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 FIXED INCOME SECURITIES FUND

Trust Shares

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

21.62

0.67

0.57

1.24

(0.67

)

(0.03

)

(0.70

)

2011(4)

22.16

0.31

0.16

0.47

(0.31

)

—

(0.31

)

Class A Shares

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

21.62

0.61

0.57

1.18

(0.61

)

(0.03

)

(0.64

)

2011(4)

22.16

0.28

0.16

0.44

(0.28

)

—

(0.28

)

HUNTINGTON INTERMEDIATE GOVERNMENT INCOME FUND

Trust Shares

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

10.74

0.31

0.19

0.50

(0.31

)

(0.03

)

(0.34

)

2011(4)

10.90

0.14

0.04

0.18

(0.14

)

—

(0.14

)

Class A Shares

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

10.74

0.28

0.19

0.47

(0.28

)

(0.03

)

(0.31

)

2011(4)

10.90

0.13

0.04

0.17

(0.13

)

—

(0.13

)

(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, 2011 (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

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, end of period (000 omitted)		Portfolio turnover rate(2)


$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	%
$22.16		5.75	%		1.06	%		2.99	%		1.06	%	$	283,953		19	%
$22.32		2.11	%(5)		1.04	%(6)		2.78	%(6)		1.04	%(6)	$	277,624		20	%(5)

$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	%
$22.16		5.50	%		1.30	%		2.68	%		1.30	%	$	8,413		19	%
$22.32		1.99	%(5)		1.29	%(6)		2.53	%(6)		1.29	%(6)	$	7,550		20	%(5)


$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	%
$10.90		4.64	%		1.10	%		2.80	%		1.10	%	$	115,470		6	%
$10.94		1.67	%(5)		1.08	%(6)		2.65	%(6)		1.08	%(6)	$	128,729		9	%(5)

$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	%
$10.90		4.38	%		1.34	%		2.50	%		1.34	%	$	4,675		6	%
$10.94		1.55	%(5)		1.33	%(6)		2.39	%(6)		1.33	%(6)	$	4,484		9	%(5)

Semi-Annual Shareholder Report

101

Financial Highlights (Continued)

Income 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 MORTGAGE SECURITIES FUND

Trust Shares

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

8.92

0.27

0.19

0.46

(0.28

)

—

(0.28

)

2011(3)

9.10

0.15

0.11

0.26

(0.15

)

—

(0.15

)

Class A Shares

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

8.97

0.23

0.22

0.45

(0.26

)

—

(0.26

)

2011(3)

9.16

0.14

0.11

0.25

(0.14

)

—

(0.14

)

HUNTINGTON OHIO TAX-FREE FUND

Trust Shares

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

21.20

0.50

(0.11

)

0.39

(0.50

)

(0.07

)

(0.57

)

2011(3)

21.02

0.23

0.33

0.56

(0.23

)

—

(0.23

)

Class A Shares

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

21.18

0.45

(0.11

)

0.34

(0.45

)

(0.07

)

(0.52

)

2011(3)

21.00

0.20

0.34

0.54

(0.20

)

—

(0.20

)

(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, 2011 (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

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, end of period (000 omitted)		Portfolio turnover rate(2)


$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	%
$9.10		5.21	%		1.11	%		2.87	%		1.11	%	$	96,832		6	%
$9.21		2.84	%(4)		1.11	%(5)		3.32	%(5)		1.11	%(5)	$	99,196		10	%(4)

$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	%
$9.16		5.03	%		1.35	%		2.62	%		1.35	%	$	3,910		6	%
$9.27		2.69	%(4)		1.36	%(5)		3.01	%(5)		1.36	%(5)	$	4,074		10	%(4)


$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	%
$21.02		1.85	%		1.20	%		2.36	%		1.20	%	$	48,741		18	%
$21.35		2.68	%(4)		1.22	%(5)		2.19	%(5)		1.22	%(5)	$	47,437		13	%(4)

$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	%
$21.00		1.60	%		1.45	%		2.09	%		1.45	%	$	3,192		18	%
$21.34		2.60	%(4)		1.47	%(5)		1.95	%(5)		1.47	%(5)	$	2,600		13	%(4)

Semi-Annual Shareholder Report

103

Financial Highlights (Continued)

Income 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

Total
distributions

HUNTINGTON SHORT/INTERMEDIATE FIXED INCOME SECURITIES FUND

Trust Shares

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

19.78

0.40

0.19

0.59

(0.40

)

(0.40

)

2011(3)

19.97

0.14

0.11

0.25

(0.14

)

(0.14

)

Class A Shares

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

19.78

0.35

0.20

0.55

(0.35

)

(0.35

)

2011(3)

19.98

0.12

0.10

0.22

(0.12

)

(0.12

)

(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, 2011 (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

104


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, end of period (000 omitted)		Portfolio turnover rate(2)


$	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	%
$	19.97		2.99	%		1.06	%		1.97	%		1.06	%	$	196,479		24	%
$	20.08		1.28	%(4)		1.04	%(5)		1.45	%(5)		1.04	%(5)	$	227,892		18	%(4)

$	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	%
$	19.98		2.78	%		1.30	%		1.60	%		1.30	%	$	7,639		24	%
$	20.08		1.10	%(4)		1.29	%(5)		1.20	%(5)		1.29	%(5)	$	9,028		18	%(4)

Semi-Annual Shareholder Report

105

Financial Highlights (Continued)

Asset Allocation Funds

(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 BALANCED ALLOCATION FUND

2009(2)

10.00

0.05

0.75

0.80

(0.06

)

—

(3)

(0.06

)

2010

10.74

0.09

0.88

0.97

(0.09

)

(0.05

)

(0.14

)

2011(7)

11.57

0.04

0.41

0.45

(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

10.32

0.17

0.41

0.58

(0.16

)

(0.05

)

(0.21

)

2011(7)

10.69

0.07

0.19

0.26

(0.07

)

—

(0.07

)

HUNTINGTON GROWTH ALLOCATION FUND

2009(2)

10.00

0.04

0.88

0.92

(0.05

)

—

(3)

(0.05

)

2010

10.87

0.06

1.09

1.15

(0.06

)

(0.08

)

(0.14

)

2011(7)

11.88

0.02

0.52

0.54

—

(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 (commencement of operations) to December 31, 2009.

(3)

Amount is less than $0.005.

(4)

Not Annualized.

(5)

Computed on an annualized basis.

(6)

Does not include the effect of expenses of underlying funds.

(7)

Six months ended June 30, 2011 (Unaudited).

(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 (Loss)
to Average
Net Assets

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

Net Assets,
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

%(4)

11.57

9.14

0.59

%(6)

0.94

0.74

%(6)

24,656

11.98

3.90

%(4)

0.67

%(5)(6)

0.74

%(5)

0.77

%(5)(6)

28,569

%(4)

10.32

4.13

%(4)

0.72

%(5)(6)

1.91

%(5)

0.86

%(5)(6)

11,248

%(4)

10.69

5.70

0.70

%(6)

1.60

0.79

%(6)

14,840

10.88

2.46

%(4)

0.73

%(5)(6)

1.39

%(5)

0.86

%(5)(6)

15,607

%(4)

10.87

9.21

%(4)

0.52

%(5)(6)

1.03

%(5)

0.85

%(5)(6)

12,923

%(4)

11.88

10.69

0.51

%(6)

0.61

0.77

%(6)

19,132

12.42

4.55

%(4)

0.69

%(5)(6)

0.36

%(5)

0.84

%(5)(6)

22,952

%(4)

Semi-Annual Shareholder Report

107

Notes to Financial Statements

June 30, 2011 (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, 2011, the Trust operated 37 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


*Funds*		Investment Share Classes Offered*
Huntington Ohio Tax-Free Fund (“Ohio Tax-Free Fund”)		Trust & A
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 for each Fund has identical rights and privileges except with respect to distribution (12b-1) and service fees, voting rights on matters affecting a single class of shares, exchange privileges of each class of shares and sales charges. Class A has a maximum sales charge on purchases of 4.75% as a percentage of the original purchase price except for the Fixed Income Securities Fund, Intermediate Government Income Fund, Mortgage Securities Fund and Ohio Tax Free Fund which are 3.75%, and the Short/Intermediate Fixed Income Securities Fund which is 1.50%. The Tax Free Money Market Fund, Money Market Fund, Ohio Municipal Money Market Fund and the U.S. Treasury Money Market Fund do not have sales charges on original purchases. Effective May 1, 2010, the Institutional Shares were renamed Trust Shares. Effective 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.

Semi-Annual Shareholder Report

108

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 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 the 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 using the closing price based on quote data from the six major U.S. options exchanges 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 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-Administrator may request that the Trust’s Pricing Committee make its own fair value determination.

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 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.

Semi-Annual Shareholder Report

109

Notes to Financial Statements (Continued)

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.

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 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 1 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, closed-end 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).

The following is a summary of the inputs used to value the Funds’ investments as of June 30, 2011, 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

—

66,784,010

—

66,784,010

—

Cash Equivalents

6,383,357

—

6,383,357

—

Total

6,383,357

—

66,784,010

—

73,167,367

—

Money Market Fund

U.S. Government Agencies

—

136,495,721

—

136,495,721

—

Corporate Bonds

—

99,593,314

—

99,593,314

—

Commercial Papers

—

84,969,339

—

84,969,339

—

Municipal Bonds

—

65,530,000

—

65,530,000

—

Cash Equivalents

61,504,900

—

61,504,900

—

Certificates of Deposit

15,000,017

—

15,000,017

—

Total

76,504,917

—

386,588,374

—

463,093,291

—

Ohio Municipal Money Market Fund

Municipal Bonds

—

142,171,055

—

142,171,055

—

Cash Equivalents

6,141,037

—

6,141,037

—

Total

6,141,037

—

142,171,055

—

148,312,092

—

U.S. Treasury Money Market Fund

U.S. Treasury Obligations

—

206,466,854

—

206,466,854

—

Repurchase Agreements

—

120,000,000

—

120,000,000

—

Total

—

326,466,854

—

326,466,854

—

Dividend Capture Fund

Common Stocks

97,440,033

—

97,440,033

—

Preferred Stocks

32,366,361

—

1,215,405

(1)

—

33,581,766

—

Exchange-Traded Funds

2,785,200

—

2,785,200

—

Cash Equivalents

3,464,658

—

3,464,658

—

Total

136,056,252

—

1,215,405

—

137,271,657

—

Global Select Markets Fund

Common Stocks

40,429,345

—

40,429,345

—

Exchange-Traded Funds

4,766,855

—

4,766,855

—

Foreign Bonds

—

3,085,801

—

3,085,801

—

Cash Equivalents

625,055

—

625,055

—

Total

45,821,255

—

3,085,801

—

48,907,056

—

Semi-Annual Shareholder Report

110

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

133,111,584

—

133,111,584

—

Cash Equivalents

6,336,914

—

6,336,914

—

Total

139,448,498

—

139,448,498

—

Income Equity Fund

Common Stocks

115,293,785

—

115,293,785

—

Cash Equivalents

2,656,788

—

2,656,788

—

Written Options

—

(28,925

)

—

(28,925

)

Total

117,950,573

(28,925

)

—

117,950,573

(28,925

)

International Equity Fund

Common Stocks

294,901,573

—

294,901,573

—

Exchange-Traded Funds

10,889,409

—

10,889,409

—

Closed-End Fund

3,049,660

—

3,049,660

—

Cash Equivalents

13,196,912

—

13,196,912

—

Total

322,037,554

—

322,037,554

—

Macro 100 Fund

Common Stocks

45,334,992

—

45,334,992

—

Rights

7,953

—

7,953

—

Cash Equivalents

8,624,555

—

8,624,555

—

Total

53,967,500

—

53,967,500

—

Mid Corp America Fund

Common Stocks

150,863,789

—

150,863,789

—

Cash Equivalents

8,362,257

—

8,362,257

—

Total

159,226,046

—

159,226,046

—

New Economy Fund

Common Stocks

50,975,585

—

50,975,585

—

Options Purchased

294,000

—

294,000

—

Cash Equivalents

2,661,984

—

2,661,984

—

Written Options

—

(172,850

)

—

(172,850

)

Total

53,931,569

(172,850

)

—

53,931,569

(172,850

)

Real Strategies Fund

Common Stocks

94,900,908

—

94,900,908

—

Corporate Bonds

—

934,500

—

934,500

—

Exchange-Traded Funds

6,541,230

—

6,541,230

—

Closed-End Fund

2,218,110

—

2,218,110

—

Options Purchased

690,125

—

690,125

—

Cash Equivalents

11,414,160

—

11,414,160

—

Written Options

—

(959,600

)

—

(959,600

)

Total

115,764,533

(959,600

)

934,500

—

116,699,033

(959,600

)

Rotating Markets Fund

Common Stocks

39,422,902

—

39,422,902

—

Exchange-Traded Funds

1,244,120

—

1,244,120

—

Cash Equivalents

566,313

—

566,313

—

Total

41,233,335

—

41,233,335

—

Situs Fund

Common Stocks

205,035,959

—

205,035,959

—

Closed-End Fund

611,110

—

611,100

—

Exchange-Traded Funds

4,038,270

—

4,038,270

—

Cash Equivalents

9,028,131

—

9,028,131

—

Written Options

—

(39,750

)

—

(39,750

)

Total

218,713,460

(39,750

)

—

218,713,460

(39,750

)

Technical Opportunities Fund

Common Stocks

6,491,704

—

6,491,704

—

Exchange-Traded Funds

3,887,755

—

3,887,755

—

Closed-End Fund

351,149

—

351,149

—

Cash Equivalents

504,193

—

504,193

—

Total

11,234,801

—

11,234,801

—

Semi-Annual Shareholder Report

111

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*

Fixed Income Securities Fund

Corporate Bonds

—

183,927,425

—

183,927,425

—

U.S. Government Agencies

—

56,099,585

—

56,099,585

—

U.S. Treasury Obligations

—

37,085,156

—

37,085,156

—

U.S. Government Mortgage Backed Agencies

—

5,147,489

—

5,147,489

—

Cash Equivalents

5,297,028

—

5,297,028

—

Total

5,297,028

—

282,259,655

—

287,556,683

—

Intermediate Government Income Fund

U.S. Government Agencies

—

70,770,153

—

70,770,153

—

U.S. Government Mortgage Backed Agencies

—

32,295,724

—

32,295,724

—

U.S. Treasury Obligations

—

17,914,872

—

17,914,872

—

Collateralized Mortgage Obligations

—

6,795,574

—

6,795,574

—

Corporate Bonds

—

2,031,734

—

2,031,734

—

Cash Equivalents

2,552,419

—

2,552,419

—

Total

2,552,419

—

129,808,057

—

132,360,476

—

Mortgage Securities Fund

U.S. Government Mortgage Backed Agencies

—

71,437,077

—

71,437,077

—

Common Stocks

12,073,367

—

12,073,367

—

Collateralized Mortgage Obligations

—

8,510,519

—

8,510,519

—

U.S. Government Agencies

—

8,296,480

—

8,296,480

—

Cash Equivalents

2,711,750

—

2,711,750

—

Total

14,785,117

—

88,244,076

—

103,029,193

—

Ohio Tax-Free Fund

Municipal Bonds

—

49,507,035

—

49,507,035

—

Cash Equivalents

170,520

—

170,520

—

Total

170,520

—

49,507,035

—

49,677,555

—

Short/Intermediate Fixed Income Securities Fund

Corporate Bonds

—

151,977,851

—

151,977,851

—

U.S. Government Agencies

—

71,645,319

—

71,645,319

—

U.S. Treasury Obligations

—

10,559,355

—

10,559,355

—

Cash Equivalents

6,827,705

—

6,827,705

—

Total

6,827,705

—

234,182,525

—

241,010,230

—

Balanced Allocation Fund

Mutual Funds

27,563,939

—

27,563,939

—

Cash Equivalents

982,896

—

982,896

—

Total

28,546,835

—

28,546,835

—

Conservative Allocation Fund

Mutual Funds

15,106,468

—

15,106,468

—

Cash Equivalents

490,207

—

490,207

—

Total

15,596,675

—

15,596,675

—

Growth Allocation Fund

Mutual Funds

22,181,432

—

22,181,432

—

Cash Equivalents

772,754

—

772,754

—

Total

22,954,186

—

22,954,186

—

*	Other Financial Instruments are derivatives instruments not reflected on the Portfolio of Investments, such as written option contracts.

(1)

Consists of Allianz SE, 8.375%, listed under Financials.

Following is a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value:

Balance as of
December 31,
2010

Change in
unrealized
appreciation
(depreciation)

Transfer in
Level 3 (a)(b)

Transfer out of
Level 3 (a)(c)

Balance as of
June 30, 2011

Situs Fund

Common Stocks

—

(58,583

)

711,682

(653,099

)

—

(a)

The amount of transfers in and/or out are reflected at the securities' fair value on the date of the transfer.

(b)

Transfers in relate primarily to securities for which observable inputs became unavailable during the period. Therefore, the securities were valued at fair value by the Advisor, in conformity with guidelines adopted by and subject to review by the Board.

(c)

Transfers out relate primarily to securities for which observable inputs became available during the period, and as of June 30, 2011, the Fund was able to obtain quotes from its pricing service. These quotes represent Level 1 inputs, which is the level of the fair value hierarchy in which these securities are included as of June 30, 2011.

Semi-Annual Shareholder Report

112

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*

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

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 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*

Certain of the Funds may be subject to equity price risk and foreign currency exchange risk in the normal course of pursuing their 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 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 foreign 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. 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, 2011, 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 six months ended June 30, 2011:


*Contracts*	Number of Contracts			*Premium*
Outstanding at 12/31/2010		—		$	—
Options written		780			173,050
Options expired		—			—
Options closed		(680	)		(165,150	)
Options exercised		(100	)		(7,900	)
Outstanding at 06/30/2011		—		$	—

Semi-Annual Shareholder Report

113

Notes to Financial Statements (Continued)

The following is a summary of Global Select Markets Fund’s written option activity for the six months ended June 30, 2011:


*Contracts*	Number of Contracts			*Premium*
Outstanding at 12/31/2010		—		$	—
Options written		1,495			169,982
Options expired		(310	)		(54,004	)
Options closed		(185	)		(44,479	)
Options exercised		(1,000	)		(71,499	)
Outstanding at 06/30/2011		—		$	—

The following is a summary of Income Equity Fund’s written option activity for the six months ended June 30, 2011:


*Contracts*	Number of Contracts			*Premium*
Outstanding at 12/31/2010		—		$	—
Options written		3,105			175,187
Options expired		(1,370	)		(71,108	)
Options closed		(560	)		(12,320	)
Options exercised		(265	)		(16,580	)
Outstanding at 06/30/2011		910		$	75,179

At June 30, 2011, Income Equity Fund had the following outstanding options:

WRITTEN OPTION CONTRACTS

Contract

Type

Expiration
Date

Exercise
Price

Number of
Contracts

Fair
Value

Unrealized
Appreciation

Kimberly-Clark Corp.

Call

July 2011

67.50

180

5,400

6,120

Repsol YPF SA

Call

July 2011

380

20,900

27,359

Waste Management, Inc.

Call

July 2011

350

2,625

12,775

NET UNREALIZED APPRECIATION ON WRITTEN
OPTION CONTRACTS

46,254

The following is a summary of New Economy Fund’s written option activity for the six months ended June 30, 2011:


*Contracts*	Number of Contracts			*Premium*
Outstanding at 12/31/2010		849		$	521,395
Options written		15,124			7,307,791
Options expired		(441	)		(151,629	)
Options closed		(14,948	)		(7,381,333	)
Options exercised		(334	)		(162,142	)
Outstanding at 06/30/2011		250		$	134,082

At June 30, 2011, 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)

Celgene Corp.

Call

July 2011

149

81,950

(7,154

)

Perrigo Co.

Call

August 2011

101

90,900

(31,614

)

NET UNREALIZED DEPRECIATION ON WRITTEN OPTION CONTRACTS

(38,768

)

Semi-Annual Shareholder Report

114

The following is a summary of Real Strategies Fund’s written option activity for the six months ended June 30, 2011:


*Contracts*	Number of Contracts			*Premium*
Outstanding at 12/31/2010		4,000		$	837,870
Options written		11,465			2,285,146
Options expired		(6,446	)		(906,036	)
Options closed		(3,846	)		(528,094	)
Options exercised		(3,003	)		(532,726	)
Outstanding at 06/30/2011		2,170		$	1,156,160

At June 30, 2011, 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)

Barrick Gold Corp.

Put

July 2011

300

37,500

4,507

Diamond Offshore

Put

January 2012

74.50

250

206,250

(4,735

)

Fluor Corp.

Put

July 2011

200

30,000

66,398

SPDR Gold Trust

Put

January 2012

125

350

39,550

220,146

Marathon Oil Corp.

Put

July 2011

200

9,400

17,999

Southern Copper Corp.

Put

July 2011

420

92,400

78,537

IPATH S&P 500 VIX

Put

January 2012

450

544,500

(186,292

)

NET UNREALIZED APPRECIATION ON WRITTEN OPTION CONTRACTS

196,560

The following is a summary of Situs Fund’s written option activity for the six months ended June 30, 2011:


*Contracts*	Number of Contracts			*Premium*
Outstanding at 12/31/2010		—		$	—
Options written		2,220			943,948
Options expired		(501	)		(94,110	)
Options closed		(100	)		(44,699	)
Options exercised		(1,219	)		(461,335	)
Outstanding at 06/30/2011		400		$	343,804

At June 30, 2011, Situs Fund had the following outstanding options:

WRITTEN OPTION CONTRACTS

Contract

Type

Expiration
Date

Exercise
Price

Number of
Contracts

Fair
Value

Unrealized
Appreciation
(Depreciation)

Cerner Corp.

Call

July 2011

57.50

100

36,000

14,709

Flowserve Corp.

Call

July 2011

120

300

3,750

289,345

NET UNREALIZED APPRECIATION ON WRITTEN OPTION CONTRACTS

304,054

Semi-Annual Shareholder Report

115

Notes to Financial Statements (Continued)

The following tables provide a summary of the fair value of derivative instruments, not accounted for as hedging instruments as of June 30, 2011, and the effect of derivative instruments on the Statement of Operations for the period ended June 30, 2011.

The Fair Value of Derivative Instruments as of June 30, 2011:


	*Asset Derivatives*	*Liability Derivatives*
*Primary Risk Exposure*	Statements of Assets and Liabilities Location	Statements of Assets and Liabilities Location	*Fund*	*Fair Value*
Option Contracts		Options Written, at value	Income Equity Fund	$	28,925
			New Economy Fund		172,850
			Real Strategies Fund		959,600
			Situs Fund		39,750

	Investments, at value		New Economy Fund		294,000
			Real Strategies Fund		690,125

The effect of Derivative Instruments on the Statements of Operations for the six months ended June 30, 2011:

Derivatives not
accounted for as
hedging
instruments
under
Statement 133

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

Gross Notional
Amount
Outstanding as
of June 30,
2011

Option Contracts

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

Dividend Capture Fund

Global Select Markets Fund

Income Equity Fund

New Economy Fund

Real Strategies

Situs Fund

108,390

94,157

(64,971

(2,846,203

976,628

109,499

)

—

46,254

(7,562

315,006

304,054

)

—

3,945,000

10,427,500

23,393,750

4,175,000

The gross notional amount of options outstanding (both purchased and written) is indicative of the volume of each Fund’s derivative activity for the period ended June 30, 2011.

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 on operations.

F.	*Securities Lending*

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. 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, 2011, the Funds did not have securities on loan.

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 price as

Semi-Annual Shareholder Report

116

determined by the Trust’s Pricing Committee. At June 30, 2011, the Money Market Fund, Fixed Income Securities Fund and Short/Intermediate Fixed Income Securities Fund held illiquid restricted securities representing 3.31%, 6.58% and 1.72%, respectively, of net assets as listed below:

Issuer Description

Acquisition Date

Principal Amount

Cost

Value

Money Market Fund:

ANZ National Int’l Ltd/London, 0.374%, 07/25/11

7/26/10

15,000,000

Fixed Income Securities Fund:

Bank of Nova Scotia, 1.450%, 07/26/13

5/3/11

5,000,000

5,040,400

5,057,400

Barrick International Bank Corp., 5.750%, 10/15/16

12/17/09

2,000,000

1,919,640

2,281,240

Royal Bank of Canada, 3.125%, 04/14/15

5/3/11

5,000,000

5,188,700

5,197,790

The Toronto-Dominion Bank, 2.200%, 07/29/15

6/29/11

3,000,000

3,060,750

3,039,906

FIA Card Services NA, Series BKNT, 7.125%, 11/15/12

6/20/06

3,000,000

3,265,500

3,202,320

Short/Intermediate Fixed Income Securities Fund:

HSBC Financial Corp., 3.500%, 06/28/15

9/24/10

2,000,000

2,105,880

2,052,266

MetLife Global Funding I, 3.125%, 01/11/16

1/19/11

2,000,000

2,012,820

2,024,832

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; International Equity Fund, Macro 100 Fund, Mid Corp America Fund, New Economy Fund, Real Strategies Fund, Rotating Markets Fund, Situs Fund, Technical Opportunities Fund and Growth Allocation Fund declare and pay dividends, if any, annually; and Growth 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 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 the Funds have been provided for in accordance with each applicable country’s tax rules and rates.

Semi-Annual Shareholder Report

117

Notes to Financial Statements (Continued)

As of June 30, 2011, 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

73,167,367

—

Money Market Fund

463,093,291

—

Ohio Municipal Money Market Fund

148,312,092

—

U.S. Treasury Money Market Fund

326,467,204

—

(350

)

(350

)

Dividend Capture Fund

128,982,167

9,884,318

(1,594,828

)

8,289,490

Global Select Markets Fund

44,024,433

6,103,387

(1,220,764

)

4,882,623

Growth Fund

118,016,545

23,556,511

(2,124,558

)

21,431,953

Income Equity Fund

108,292,266

11,879,493

(2,221,186

)

9,658,307

International Equity Fund

264,499,118

70,642,382

(13,103,946

)

57,538,436

Macro 100 Fund

44,514,476

11,119,068

(1,666,044

)

9,453,024

Mid Corp America Fund

93,204,223

67,155,608

(1,133,785

)

66,021,823

New Economy Fund

53,943,565

3,252,116

(3,264,112

)

(11,996

)

Real Strategies Fund

104,732,740

16,682,088

(4,715,795

)

11,966,293

Rotating Markets Fund

33,504,389

7,933,983

(205,037

)

7,728,946

Situs Fund

150,193,821

78,266,126

(9,746,487

)

68,519,639

Technical Opportunities Fund

10,858,937

606,260

(230,396

)

375,864

Fixed Income Securities Fund

273,635,409

14,439,396

(518,122

)

13,921,274

Intermediate Government Income Fund

126,116,826

6,463,156

(219,506

)

6,243,650

Mortgage Securities Fund

96,249,366

7,137,735

(357,908

)

6,779,827

Ohio Tax-Free Fund

48,772,285

1,120,732

(215,462

)

905,270

Short/Intermediate Fixed Income Securities Fund

236,545,299

4,718,636

(253,705

)

4,464,931

Balanced Allocation Fund

25,630,385

2,989,320

(72,870

)

2,916,450

Conservative Allocation Fund

14,709,688

910,828

(23,841

)

886,987

Growth Allocation Fund

19,975,200

3,058,049

(79,063

)

2,978,986

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.

As of December 31, 2010, 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:

Expiration Year

2011

2012

2013

2014

2015

2016

2017

2018

Tax-Free Money Market Fund

231

1,529

5,818

4,861

1,434

60,543

55,252

—

Money Market Fund

438,540

3,032

7,224

921

106

—

Ohio Municipal Money Market Fund

—

463

25,291

7,739

12,350

—

193,762

14,321

Dividend Capture Fund

—

7,483,221

23,601,723

—

Global Select Markets Fund

—

86,796

Income Equity Fund

—

23,601,723

—

International Equity Fund

—

19,366,897

3,782,569

Macro 100 Fund

—

6,793,287

826,640

855,981

New Economy Fund

—

1,910,726

21,858,508

—

Real Strategies Fund

—

1,193,027

15,813,875

1,826,337

Rotating Markets Fund

—

4,284,016

—

Situs Fund

—

8,623,731

—

Technical Opportunities Fund

—

86,652

1,310,241

—

Mortgage Securities Fund

—

6,916

753,414

140,239

Short/Intermediate Fixed Income Securities Fund

—

613,260

299,850

850,465

277,960

—

During the year ended December 31, 2010, the Money Market Fund, Dividend Capture Fund, Growth Fund, Income Equity Fund, Mid Corp America Fund, New Economy Fund, Rotating Markets Fund, Situs Fund, Fixed Income Securities Fund, Ohio Tax-Free Fund, Technical Opportunities Fund and Short/Intermediate Fixed Income Securities Fund, utilized $2,215, $3,327,592, $26,278,447, $8,622,018, $545,578, $3,306,337, $5,612,843, $1,035,827, $89,568, $1,468,100 and $1,408,501, respectively, in capital loss carryforwards.

Semi-Annual Shareholder Report

118

The tax character of distributions paid during the fiscal year ended December 31, 2010, 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

—

9,406

—

9,406

Money Market Fund

46,504

—

46,504

—

46,504

Ohio Municipal Money Market Fund

—

23,103

—

23,103

U.S. Treasury Money Market Fund

37,149

—

37,149

—

37,149

Dividend Capture Fund

2,924,965

—

2,924,965

—

2,924,965

Global Select Markets Fund

399,831

—

399,831

—

51,500

451,331

Growth Fund

397

—

397

—

397

Income Equity Fund

2,653,177

—

2,653,177

—

2,653,177

International Equity Fund

2,464,176

—

2,464,176

—

2,464,176

Macro 100 Fund

39,179

—

39,179

—

39,179

Mid Corp America Fund

62,512

4,705,238

4,767,750

—

4,767,750

Real Strategies Fund

464,942

—

464,942

—

464,942

Rotating Markets Fund

2,699

—

2,699

—

2,699

Technical Opportunities Fund

2,356

—

2,356

—

2,356

Fixed Income Securities Fund

8,093,924

253,105

8,347,029

—

8,347,029

Intermediate Government Income Fund

3,282,208

268,472

3,550,680

—

3,550,680

Mortgage Securities Fund

3,202,168

—

3,202,168

—

3,202,168

Ohio Tax-Free Fund

1,862

170,347

172,209

1,159,655

—

1,331,864

Short/Intermediate Fixed Income Securities Fund

3,414,557

—

3,414,557

—

3,414,557

Balanced Allocation Fund

265,841

3,592

269,433

—

269,433

Conservative Allocation Fund

259,033

10,807

269,840

—

269,840

Growth Allocation Fund

213,302

3,762

217,064

—

217,064

*	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.

As of December 31, 2010, 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

—

(131,067

)

—

(131,067

)

Money Market Fund

—

(456,629

)

—

(456,629

)

Ohio Municipal Money Market Fund

—

(253,836

)

—

(253,836

)

U.S. Treasury Money Market Fund

—

4,160

—

4,160

—

(350

)

3,810

Dividend Capture Fund

—

20,581

—

20,581

—

(31,084,944

)

8,866,737

(22,197,626

)

Global Select Markets Fund

—

(137,941

)

4,728,263

4,590,322

Growth Fund

—

487,671

—

(435

)

16,514,448

17,001,684

Income Equity Fund

—

30,105

—

30,105

—

(18,366,030

)

7,835,040

(10,500,885

)

International Equity Fund

—

2,718,214

—

2,718,214

(23,179,957

)

58,514,888

38,053,145

Macro 100 Fund

—

2,055

—

2,055

—

(8,480,238

)

8,138,307

(339,876

)

Mid Corp America Fund

—

117,757

478,457

596,214

—

65,402,622

65,998,836

New Economy Fund

—

(24,121,337

)

6,971,609

(17,149,728

)

Real Strategies Fund

—

65,886

—

65,886

—

(19,159,389

)

8,493,691

(10,599,812

)

Rotating Markets Fund

—

101,064

—

101,064

—

(4,284,016

)

5,134,188

951,236

Situs Fund

—

(8,639,637

)

62,296,824

53,657,187

Technical Opportunities Fund

—

(1,396,894

)

580,102

(816,792

)

Semi-Annual Shareholder Report

119

Notes to Financial Statements (Continued)

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)

Fixed Income Securities Fund

—

19,735

314,445

334,180

—

13,849,700

14,183,880

Intermediate Government Income Fund

—

92,673

8,440

101,113

(19,990

)

5,585,396

5,666,519

Mortgage Securities Fund

—

220,843

—

220,843

—

(977,124

)

5,384,721

4,628,440

Ohio Tax-Free Fund

—

82,966

(187

)

—

261,463

344,242

Short/Intermediate Fixed Income Securities Fund

—

(2,041,535

)

3,709,513

1,667,978

Balanced Allocation Fund

—

31,381

39,254

70,635

—

2,246,126

2,316,761

Conservative Allocation Fund

—

17,433

15,907

33,340

—

717,775

751,115

Growth Allocation Fund

—

20,117

39,228

59,345

—

2,366,021

2,425,366

*	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

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, 2010, the Funds deferred post-October capital losses and post-October currency losses as follows:


*Fund*	Capital Losses		Currency Losses
Tax-Free Money Market Fund	$	1,399	$	—
Money Market Fund		6,806		—
Global Select Markets Fund		—		51,145
Growth Fund		—		435
Income Equity Fund		—		5
International Equity Fund		—		30,491
Situs Fund		15,906		—
Intermediate Government Income Fund		19990		—
Mortgage Securities Fund		76,555		—

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.

The Regulated Investment Company Modernization Act of 2010 (the “Act”) was enacted on December 22, 2010. The Act makes changes to several tax rules impacting the Funds. In general, the provisions of the Act will be effective for the Funds’ fiscal year ending December 31, 2011. Although the Act provides several benefits, including the unlimited carryover of future capital losses, there may be a greater likelihood that all or a portion of each fund’s pre-enactment capital loss carryovers may expire without being utilized due to the fact that post-enactment capital losses get utilized before pre-enactment capital loss carryovers. Relevant information regarding the impact of the Act on the Fund, if any, will be contained within the “Federal Income Taxes” section of the financial statement notes for the fiscal year ending December 31, 2011.

(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

Global Select Markets Fund

1.00

0.95

0.90

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

Semi-Annual Shareholder Report

120

Tiered Annual Rate:

Fund

Up to $500 million

On the next $500 million

In Excess of $1 billion

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

The 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. 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.

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.

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 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 Adviser 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%. (Effective September 26, 2011, the Advisor has agreed to waive fees or reimburse expenses for the U.S. Treasury Money Market Fund in amounts necessary to maintain a minimum yield of 0.00%.) 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 not more than 1.90% and 2.15% of Trust Shares and Class A Shares, respectively, through April 30, 2012. 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, 2012. Amounts waived or reimbursed in the contractual period may be recouped by the Advisor within three years of the waiver and/or reimbursement. As of

June 30, 2011, the following amounts have been waived or reimbursed by the Adviser 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
		474,740		2013
		234,733		2014
Money Market Fund		1,526,152		2012
		2,696,185		2013
		1,250,094		2014
Ohio Municipal Money Market Fund		506,451		2012
		1,357,243		2013
		604,118		2014
U.S. Treasury Money Market Fund		1,437,890		2012
		2,375,535		2013
		1,236,645		2014
Global Select Markets Fund		69,223		2013
Balance Allocation Fund		10,920		2012
		28,952		2013
		13,806		2014
Conservative Allocation Fund		6,278		2012
		11,431		2013
		9,397		2014
Growth Allocation Fund		15,562		2012
		40,912		2013
		14,877		2014

Consulting Fee—Laffer Investments, Inc. acts as a consultant (“the Consultant”) to the Advisor for 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.

Administration Fees—Huntington is the Administrator to the Trust, and Huntington Asset Services, Inc. (“HASI”), an affiliate of Huntington, is the Sub-Administrator. As Administrator, Huntington provides the Funds with certain administrative services. As Sub-Administrator, HASI provides the Funds with certain administrative personnel, and generally assists with the provision of administrative services necessary

Semi-Annual Shareholder Report

121

Notes to Financial Statements (Continued)

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 HASI. HASI is paid directly by Huntington, not the Funds, for these services. The fees paid for administrative and sub-administrative services are based on the level of average net assets of each Fund for the period, subject to minimum fees in certain circumstances.


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, 2011, Huntington

and its affiliates received $2,656,054 in shareholder service fees. For the period ended June 30, 2011, Unified Financial Securities, Inc., the Funds’ distributor, received underwriter commissions of $71,109 earned on sales of Class A Shares. For the period ended June 30, 2011, the Funds paid $435,200 to affiliated broker-dealers of the Funds.

Transfer and Dividend Disbursing Agent Fees and Expense—HASI is the transfer and dividend disbursing agent for the Funds. For its services, HASI 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. Brown Brothers Harriman serves as sub-custodian for Global Select Market Fund’s, International Equity Fund’s, Real Strategies Fund’s, Situs Fund’s and Technical Opportunities Fund’s foreign assets. Huntington and Brown Brothers Harriman 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 $131,250 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

12/31/10
Market Value

Purchases

Sales

06/30/11
Market Value

Income

Dividend Capture Fund

1,122,914

32,450,164

(30,108,420

)

3,464,658

191

Global Select Markets Fund

716,504

19,765,949

(19,857,648

)

624,805

Growth Fund

6,700,122

54,634,112

(54,997,320

)

6,336,914

142

Income Equity Fund

3,214,284

10,560,726

(11,118,222

)

2,656,788

International Equity Fund

8,803,071

52,344,710

(47,950,869

)

13,196,912

734

Macro 100 Fund

2,108,417

9,238,315

(2,722,177

)

8,624,555

242

Mid Corp America Fund

1,913,483

22,919,682

(16,470,908

)

8,362,257

310

New Economy Fund

1,609,241

42,486,419

(41,433,676

)

2,661,984

196

Real Strategies Fund

101,452

29,323,878

(18,011,170

)

11,414,160

286

Rotating Markets Fund

183,730

2,732,420

(2,349,837

)

566,313

Situs Fund

30,069,535

(21,041,432

)

9,028,131

440

Technical Opportunities Fund

675,043

1,526,754

(1,697,604

)

504,193

Fixed Income Securities Fund

1,571,742

46,940,147

(43,214,861

)

5,297,028

187

Intermediate Government Income Fund

1,783,867

24,663,198

(23,894,646

)

2,552,419

175

Mortgage Securities Fund

2,668,401

15,275,097

(15,231,748

)

2,711,750

172

Short/Intermediate Fixed Income Securities Fund

4,188,774

46,321,655

(43,682,724

)

6,827,705

235

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

12/31/10
Market Value

Purchases

Sales

06/30/11
Market Value

Income

Money Market Fund

749,149

2,914,960

(2,681,212

)

982,896

Dividend Capture Fund

1,165,338

295,074

(350,724

)

1,176,474

21,425

Global Select Markets Fund

—

617,731

(32,668

)

631,998

—

Semi-Annual Shareholder Report

122

Balanced Allocation Fund

12/31/10
Market Value

Purchases

Sales

06/30/11
Market Value

Income

Growth Fund

2,093,366

1,410,034

—

3,568,290

—

Income Equity Fund

2,160,184

928,297

(15,209

)

3,237,305

42,143

International Equity Fund

3,133,325

381,965

(932,855

)

2,693,965

—

Macro 100 Fund

2,181,473

1,078,137

(216,226

)

3,118,063

—

Mid Corp America Fund

1,126,908

279,785

(341,410

)

1,158,895

—

New Economy Fund

844,626

213,467

(204,412

)

860,136

—

Situs Fund

2,004,678

490,890

(628,204

)

2,016,836

—

Fixed Income Securities Fund

4,147,173

653,821

(704,084

)

4,124,987

63,551

Intermediate Government Income Fund

1,933,254

312,419

(321,898

)

1,929,314

27,984

Mortgage Securities Fund

1,101,642

173,706

(176,133

)

1,111,222

19,198

Short/Intermediate Fixed Income Securities Fund

1,926,180

307,256

(303,997

)

1,936,454

15,512

Conservative Allocation Fund

12/31/10
Market Value

Purchases

Sales

06/30/11
Market Value

Income

Money Market Fund

637,641

1,238,829

(1,386,263

)

490,207

Dividend Capture Fund

231,157

63,773

(63,453

)

245,446

4,068

Global Select Markets Fund

—

128,103

(5,157

)

132,425

—

Growth Fund

414,890

314,281

(32

)

746,482

—

Income Equity Fund

428,107

219,093

(6,145

)

676,351

7,926

International Equity Fund

620,425

122,973

(204,427

)

564,174

—

Macro 100 Fund

432,293

261,729

(59,874

)

652,608

—

Mid Corp America Fund

223,074

63,701

(63,568

)

242,597

—

New Economy Fund

167,208

48,920

(38,661

)

180,096

—

Situs Fund

397,378

106,746

(113,500

)

422,259

—

Fixed Income Securities Fund

5,125,522

339,880

(400,304

)

5,098,015

74,419

Intermediate Government Income Fund

2,388,604

154,238

(165,148

)

2,384,155

32,678

Mortgage Securities Fund

1,362,587

95,001

(103,820

)

1,369,004

22,625

Short/Intermediate Fixed Income Securities Fund

2,379,626

163,798

(160,934

)

2,392,856

18,215

Growth Allocation Fund

12/31/10
Market Value

Purchases

Sales

06/30/11
Market Value

Income

Money Market Fund

576,965

2,316,017

(2,120,227

)

772,754

Dividend Capture Fund

1,207,081

308,141

(357,643

)

1,227,940

22,240

Global Select Markets Fund

—

650,644

(38,314

)

661,667

—

Growth Fund

2,169,260

1,493,493

—

3,737,122

—

Income Equity Fund

2,238,576

988,179

(15,217

)

3,384,529

43,791

International Equity Fund

3,250,323

389,490

(937,886

)

2,820,722

—

Macro 100 Fund

2,262,629

1,107,047

(186,806

)

3,265,212

—

Mid Corp America Fund

1,166,583

297,437

(348,458

)

1,213,544

—

New Economy Fund

875,746

225,447

(208,130

)

900,662

—

Situs Fund

2,079,110

515,973

(639,916

)

2,111,865

—

Fixed Income Securities Fund

1,482,045

281,960

(484,834

)

1,295,502

22,584

Intermediate Government Income Fund

691,331

135,553

(225,732

)

606,084

9,958

Mortgage Securities Fund

393,913

73,356

(124,705

)

348,216

6,690

Short/Intermediate Fixed Income Securities Fund

688,840

133,729

(219,311

)

608,367

5,511

(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.

(5)

Investment Transactions

Purchases and sales of investments, excluding short-term securities, for the period ended June 30, 2011, were as follows:


*Fund*	*Purchases*		*Sales*
Dividend Capture Fund	$	116,483,009	$	106,966,231
Global Select Markets Fund		35,096,693		29,242,385
Growth Fund		104,903,937		103,159,994
Income Equity Fund		96,514,458		93,002,242
International Equity Fund		69,861,249		66,079,424
Macro 100 Fund		4,505,799		4,153,269
Mid Corp America Fund		13,092,890		20,175,893
New Economy Fund		87,412,466		94,450,185
Real Strategies Fund		45,067,207		35,079,201

Semi-Annual Shareholder Report

123

Notes to Financial Statements (Continued)


*Fund*	*Purchases*		*Sales*
Rotating Markets Fund	$	—	$	1,197,685
Situs Fund		12,151,803		20,158,834
Technical Opportunities Fund		11,898,595		11,634,350
Fixed Income Securities Fund		64,070,604		71,657,317
Intermediate Government Income Fund		23,407,404		11,847,976
Mortgage Securities Fund		11,279,471		10,010,614
Ohio Tax-Free Fund		6,373,711		8,996,071
Short/Intermediate Fixed Income Securities Fund		70,119,986		37,662,793
Balanced Allocation Fund		7,051,402		4,227,820
Conservative Allocation Fund		2,059,925		1,385,022
Growth Allocation Fund		6,594,629		3,786,952

Purchases and sales of long-term U.S. government securities, for the period ended June 30, 2011, were as follows:


*Fund*	*Purchases*		*Sales*
Fixed Income Securities Fund	$	25,536,495	$	54,813,439
Intermediate Government Income Fund		23,407,404		11,848,067
Mortgage Securities Fund		10,981,081		9,451,764
Short/Intermediate Fixed Income Securities Fund		38,792,193		21,626,583

(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, 2011, 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, imposed capital or currency controls, impose punitive taxes, impose limits on ownership or nationalize a company or industry. Any of these actions could have 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

124

Supplemental Information (Unaudited)

Shareholder Expense Examples

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, 2011 to June 30, 2011.

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, 2011

Ending
Account Value,
June 30, 2011

Expenses
Paid
During
Period(1)

Annualized
Expense
Ratio

Tax-Free Money Market Fund

Trust Shares

Actual

1,000.00

1.83

0.37

Hypothetical (2)

1,000.00

1,022.97

1.86

0.37

Class A Shares

Actual

1,000.00

1.83

0.37

Hypothetical (2)

1,000.00

1,022.97

1.86

0.37

Money Market Fund

Trust Shares

Actual

1,000.00

1.38

0.28

Hypothetical (2)

1,000.00

1,023.41

1.40

0.28

Class A Shares

Actual

1,000.00

1.38

0.28

Hypothetical (2)

1,000.00

1,023.41

1.40

0.28

Interfund

Actual

1,000.00

1.38

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

1.62

0.33

Hypothetical (2)

1,000.00

1,023.17

1.64

0.33

Class A Shares

Actual

1,000.00

1.62

0.33

Hypothetical (2)

1,000.00

1,023.17

1.64

0.33

U.S. Treasury Money Market Fund

Trust Shares

Actual

1,000.00

0.51

0.10

Hypothetical (2)

1,000.00

1,024.29

0.51

0.10

Class A Shares

Actual

1,000.00

0.51

0.10

Hypothetical (2)

1,000.00

1,024.29

0.51

0.10

Dividend Capture Fund

Trust Shares

Actual

1,000.00

1,068.80

6.88

1.34

Hypothetical (2)

1,000.00

1,018.14

6.72

1.34

Class A Shares

Actual

1,000.00

1,067.50

8.17

1.59

Hypothetical (2)

1,000.00

1,016.89

7.97

1.59

Semi-Annual Shareholder Report

125

Supplemental Information (Unaudited) (Continued)

Beginning
Account
Value,
January 1, 2011

Ending
Account Value,
June 30, 2011

Expenses
Paid
During
Period(1)

Annualized
Expense
Ratio

Global Select Markets Fund

Trust Shares

Actual

1,000.00

1,024.40

8.72

1.74

Hypothetical (2)

1,000.00

1,016.18

8.69

1.74

Class A Shares

Actual

1,000.00

1,023.60

9.96

1.99

Hypothetical (2)

1,000.00

1,014.95

9.92

1.99

Growth Fund

Trust Shares

Actual

1,000.00

1,033.30

5.97

1.18

Hypothetical (2)

1,000.00

1,018.92

5.93

1.18

Class A Shares

Actual

1,000.00

1,031.80

7.22

1.43

Hypothetical (2)

1,000.00

1,017.68

7.17

1.43

Income Equity Fund

Trust Shares

Actual

1,000.00

1,092.80

6.18

1.19

Hypothetical (2)

1,000.00

1,018.89

5.96

1.19

Class A Shares

Actual

1,000.00

1,091.40

7.47

1.44

Hypothetical (2)

1,000.00

1,017.65

7.20

1.44

International Equity Fund

Trust Shares

Actual

1,000.00

1,041.60

7.91

1.56

Hypothetical (2)

1,000.00

1,017.05

7.81

1.56

Class A Shares

Actual

1,000.00

1,040.20

9.17

1.81

Hypothetical (2)

1,000.00

1,015.81

9.06

1.81

Macro 100 Fund

Trust Shares

Actual

1,000.00

1,038.20

7.48

1.48

Hypothetical (2)

1,000.00

1,017.46

7.40

1.48

Class A Shares

Actual

1,000.00

1,037.60

8.73

1.73

Hypothetical (2)

1,000.00

1,016.23

8.64

1.73

Mid Corp America Fund

Trust Shares

Actual

1,000.00

1,073.60

6.73

1.31

Hypothetical (2)

1,000.00

1,018.30

6.55

1.31

Class A Shares

Actual

1,000.00

1,072.10

8.01

1.56

Hypothetical (2)

1,000.00

1,017.06

7.80

1.56

New Economy Fund

Trust Shares

Actual

1,000.00

1,005.60

7.58

1.52

Hypothetical (2)

1,000.00

1,017.23

7.63

1.52

Class A Shares

Actual

1,000.00

1,003.80

8.81

1.77

Hypothetical (2)

1,000.00

1,016.00

8.87

1.77

Real Strategies Fund

Trust Shares

Actual

1,000.00

1,023.80

6.83

1.36

Hypothetical (2)

1,000.00

1,018.04

6.81

1.36

Class A Shares

Actual

1,000.00

1,022.50

8.08

1.61

Hypothetical (2)

1,000.00

1,016.80

8.06

1.61

Rotating Markets Fund

Trust Shares

Actual

1,000.00

1,076.50

6.31

1.23

Hypothetical (2)

1,000.00

1,018.71

6.14

1.23

Class A Shares

Actual

1,000.00

1,075.10

7.59

1.48

Hypothetical (2)

1,000.00

1,017.48

7.38

1.48

Semi-Annual Shareholder Report

126

Beginning
Account
Value,
January 1, 2011

Ending
Account Value,
June 30, 2011

Expenses
Paid
During
Period(1)

Annualized
Expense
Ratio

Situs Fund

Trust Shares

Actual

1,000.00

1,066.30

6.75

1.32

Hypothetical (2)

1,000.00

1,018.26

6.59

1.32

Class A Shares

Actual

1,000.00

1,064.70

8.03

1.57

Hypothetical (2)

1,000.00

1,017.02

7.84

1.57

Technical Opportunites Fund

Trust Shares

Actual

1,000.00

1,021.80

10.84

2.16

Hypothetical (2)

1,000.00

1,014.07

10.80

2.16

Class A Shares

Actual

1,000.00

1,019.50

12.48

2.49

Hypothetical (2)

1,000.00

1,012.44

12.43

2.49

Fixed Income Securities Fund

Trust Shares

Actual

1,000.00

1,021.10

5.23

1.04

Hypothetical (2)

1,000.00

1,019.62

5.23

1.04

Class A Shares

Actual

1,000.00

1,019.90

6.48

1.29

Hypothetical (2)

1,000.00

1,018.38

6.48

1.29

Intermediate Government Income Fund

Trust Shares

Actual

1,000.00

1,016.70

5.39

1.08

Hypothetical (2)

1,000.00

1,019.45

5.40

1.08

Class A Shares

Actual

1,000.00

1,015.50

6.64

1.33

Hypothetical (2)

1,000.00

1,018.21

6.64

1.33

Mortgage Securities Fund

Trust Shares

Actual

1,000.00

1,028.40

5.57

1.11

Hypothetical (2)

1,000.00

1,019.30

5.54

1.11

Class A Shares

Actual

1,000.00

1,026.90

6.82

1.36

Hypothetical (2)

1,000.00

1,018.06

6.79

1.36

Ohio Tax-Free Fund

Trust Shares

Actual

1,000.00

1,026.80

6.12

1.22

Hypothetical (2)

1,000.00

1,018.75

6.10

1.22

Class A Shares

Actual

1,000.00

1,026.00

7.39

1.47

Hypothetical (2)

1,000.00

1,017.50

7.35

1.47

Short/Intermediate Fixed Income Securities Fund

Trust Shares

Actual

1,000.00

1,012.80

5.21

1.04

Hypothetical (2)

1,000.00

1,019.62

5.22

1.04

Class A Shares

Actual

1,000.00

1,011.00

6.44

1.29

Hypothetical (2)

1,000.00

1,018.39

6.46

1.29

Balanced Allocation Fund

Class A Shares

Actual

1,000.00

1,039.00

3.38

0.67

Hypothetical (2)

1,000.00

1,021.48

3.35

0.67

Conservative Allocation Fund

Class A Shares

Actual

1,000.00

1,024.60

3.68

0.73

Hypothetical (2)

1,000.00

1,021.16

3.67

0.73

Growth Allocation Fund

Class A Shares

Actual

1,000.00

1,045.50

3.52

0.69

Hypothetical (2)

1,000.00

1,021.35

3.48

0.69

(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’ Adviser for the period beginning January 1, 2011 through June 30, 2011. 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

127

[THIS PAGE INTENTIONALLY LEFT BLANK]

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 and Custodian of The Huntington Funds. Huntington Asset Services, Inc. serves as the Sub-Administrator and Sub-Fund Accountant and is affiliated with the Huntington National Bank. 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 (08/11)

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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, 2011

Huntington VA Balanced Fund

Portfolio of Investments Summary Table – (Unaudited)

June 30, 2011


Asset Allocation	Percentage of Market Value
Equity Mutual Funds¹		59.8%
Fixed Income Mutual Funds¹		37.5%
Cash¹		2.7%

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, 2011, 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, 2011


Shares			Value

		Mutual Funds — 97.9% (a)
	495,512	Huntington Fixed Income Securities Fund, Trust Shares	$	11,059,824
	135,345	Huntington VA Dividend Capture Fund		1,414,354
	793,031	Huntington VA Growth Fund		6,391,827
	449,284	Huntington VA Income Equity Fund		4,263,709
	236,460	Huntington VA International Equity Fund		3,561,088
	189,833	Huntington VA Macro 100 Fund		1,774,934
	74,963	Huntington VA Mid Corp America Fund		1,419,054
	193,659	Huntington VA Mortgage Securities Fund		2,285,180
	124,863	Huntington VA New Economy Fund		1,590,749
	54,459	Huntington VA Situs Fund		887,142

		Total Mutual Funds (Cost $31,479,662)		34,647,861


Shares			Value

		Cash Equivalents — 2.7%
	951,316	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)	$	951,316

		Total Cash Equivalents (Cost $951,316)		951,316

		Total Investments (Cost $32,430,978) — 100.6%		35,599,177

		Liabilities in Excess of Other Assets — (0.6)%		(220,174	)

		Net Assets — 100.0%	$	35,379,003

(a)	Investment in affiliate.

(b)	Rate disclosed is the seven day yield as of June 30, 2011.

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, 2011


Asset Allocation	Percentage of Market Value
Common Stocks		71.4%
Preferred Stocks		24.9%
Cash¹		2.0%
Exchange-Traded Funds		1.7%

Total		100.0%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2011


Shares			Value

		Common Stocks — 70.9%
		Consumer Discretionary — 4.0%
	15,000	Comcast Corp., Class A	$	380,100
	15,000	Gentex Corp.		453,450
	10,000	Hillenbrand, Inc.		236,500
	5,500	The Buckle, Inc.		234,850
	2,000	Time Warner, Inc.		72,740

				1,377,640

		Consumer Staples — 7.4%
	16,000	Archer-Daniels-Midland Co.		482,400
	3,500	Colgate-Palmolive Co.		305,935
	6,500	Ruddick Corp.		283,010
	3,500	The Hershey Co.		198,975
	14,000	Universal Corp.		527,380
	9,000	Walgreen Co.		382,140
	7,000	Wal-Mart Stores, Inc.		371,980

				2,551,820

		Energy — 12.3%
	7,000	Cenovus Energy, Inc.		263,620
	2,500	Chevron Texaco Corp.		257,100
	11,000	ConocoPhillips		827,090
	12,000	Exxon Mobil Corp.		976,560
	7,000	Murphy Oil Corp.		459,620
	10,500	Royal Dutch Shell PLC ADR		746,865
	12,500	Total SA ADR		723,000

				4,253,855

		Financials — 14.1%
	5,000	ACE Ltd.		329,100
	10,750	American Financial Group, Inc.		383,667
	10,500	Assurant, Inc.		380,835
	6,000	Bank of Montreal		381,300
	19,500	Federated Investors, Inc., Class B		464,880
	7,000	Highwoods Properties, Inc.		231,910
	8,000	JPMorgan Chase & Co.		327,520
	5,000	M&T Bank Corp.		439,750
	11,500	NYSE Euronext		394,105
	3,500	The Travelers Cos., Inc.		204,330
	8,000	U.S. Bancorp		204,080


Shares			Value

		Financials — (continued)
	17,500	Unitrin, Inc.	$	519,225
	16,500	Waddell & Reed Financial, Inc.		599,775

				4,860,477

		Health Care — 7.3%
	9,000	Abbott Laboratories		473,580
	12,000	AstraZeneca PLC ADR		600,840
	4,000	Baxter International, Inc.		238,760
	5,500	Cardinal Health, Inc.		249,810
	16,500	Eli Lilly & Co.		619,245
	9,500	Merck & Co., Inc.		335,255

				2,517,490

		Industrials — 7.5%
	5,250	3M Co.		497,962
	17,500	Brady Corp.		561,050
	11,500	CSX Corp.		301,530
	7,000	General Electric Co.		132,020
	8,250	Lockheed Martin Corp.		668,002

	11,500	Waste Management, Inc.		428,605

				2,589,169

		Information Technology — 3.1%
	10,500	Corning, Inc.		190,575
	26,000	Intel Corp.		576,160
	2,500	Microsoft Corp.		65,000
	17,624	Taiwan Semiconductor Manufacturing Co. Ltd. ADR		222,239

				1,053,974

		Materials — 2.0%
	5,000	Sensient Technology Corp.		185,350
	6,500	Sonoco Products Co.		231,010
	8,250	Southern Copper Corp.		271,178

				687,538

		Real Estate Investment Trusts — 6.9%
	9,000	Acadia Realty Trust		182,970
	2,500	EastGroup Properties, Inc.		106,275
	3,000	Entertainment Properties Trust		140,100
	1,500	Equity Residential Properties Trust		90,000

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


		2

Huntington VA Dividend Capture Fund

Portfolio of Investments (continued)

June 30, 2011


Shares			Value

		Common Stocks — (continued)
		Real Estate Investment Trusts — (continued)
	3,000	HCP, Inc.	$	110,070
	5,000	Health Care REIT, Inc.		262,150
	3,000	Home Properties, Inc.		182,640
	3,250	Mid-America Apartment Communities, Inc.		219,278
	2,500	National Health Investors, Inc.		111,075
	2,500	PS Business Parks, Inc.		137,750
	10,000	Realty Income Corp.		334,900
	1,374	Simon Property Group, Inc.		159,700
	3,000	Sovran Self Storage, Inc.		123,000
	4,500	Ventas, Inc.		237,195

				2,397,103

		Telecommunication Services — 1.9%
	17,500	Verizon Communications, Inc.		651,525

		Utilities — 4.4%
	21,000	CMS Energy Corp.		413,490
	4,750	Entergy Corp.		324,330
	18,000	Exelon Corp.		771,120

				1,508,940

		Total Common Stocks (Cost $22,538,061)		24,449,531

		Preferred Stocks — 24.7%
		Consumer Discretionary — 1.0%
	13,000	Viacom, Inc., 6.850%		329,810

		Energy — 2.7%
	14,000	Dominion Resources, Inc., Class A, 8.375%		400,540
	18,000	NextEra Energy Capital Holdings, Inc., 8.750%		518,220

				918,760

		Financials — 17.3%
	15,000	Allianz SE, 8.375%		405,135
	8,000	American Financial Group, Inc., 7.000%		202,960
	12,500	Ameriprise Financial, Inc., 7.750%		343,000
	1,671	Barclays Bank PLC, 6.625%		40,171
	20,000	BB&T Capital Trust V, 8.950%		525,800
	14,000	Credit Suisse Guernsey, 7.900%		368,340
	2,000	General Electric Capital Corp., 6.000%		51,280
	7,000	Goldman Sachs Group, Inc., 6.200%		175,840
	15,000	JPMorgan Chase Capital XXVI, 8.000%		396,900
	5,000	KeyCorp Capital VIII, 7.000%		126,650
	16,000	M&T Capital Trust IV, 8.500%		419,200
	7,000	Merrill Lynch & Co. Capital Trust V, 7.280%		173,810
	16,000	Morgan Stanley Capital Trust, 6.600%		393,120
	8,000	PartnerRe Ltd., 6.500%		195,440


Shares			Value

		Financials — (continued)
	7,000	PLC Capital Trust IV, 7.250%	$	175,070
	21,000	PNC Capital Trust E, 7.750%		545,370
	24,000	Prudential Financial, Inc., 9.000%		668,640
	10,000	Renaissancere Holdings Ltd., 6.080%		238,700
	1,000	USB Capital XI, 6.600%		25,470
	20,000	Wachovia Capital Trust X, 7.850%		515,000

				5,985,896

		Real Estate Investment Trusts — 2.2%
	10,500	Kimco Realty Corp., 7.750%		273,630
	2,000	Public Storage, Inc., 6.450%		50,240
	16,000	Vornado Realty LP, 7.875%		438,400

				762,270

		Telecommunication Services — 0.4%
	5,117	AT&T, Inc., 6.375%		136,880

		Utilities — 1.1%
	4,000	Interstate Power & Light Co., 8.375%		114,800
	10,000	Xcel Energy, Inc., 7.600%		275,000

				389,800

		Total Preferred Stocks (Cost $7,982,661)		8,523,416

		Exchange-Traded Funds — 1.7%
	4,000	iShares FTSE/Xinhua China 25 Index Fund		248,000
	13,000	The Technology Select Sector SPDR Fund		334,100

				582,100

		Total Exchange-Traded Funds (Cost $449,167)		582,100

		Cash Equivalents — 2.0%
	693,643	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		693,643

		Total Cash Equivalents (Cost $693,643)		693,643

		Total Investments (Cost $31,663,532) — 99.3%		34,248,690

		Other Assets in Excess of Liabilities — 0.7%		244,957

		Net Assets — 100.0%	$	34,493,647

(a)	Investment in affiliate.

(b)	Rate disclosed is the seven day yield as of June 30, 2011.


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.


		3

Huntington VA Growth Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2011


Asset Allocation	Percentage of Market Value
Information Technology		31.1%
Health Care		13.4%
Consumer Discretionary		12.7%
Consumer Staples		12.2%
Industrials		11.3%
Energy		7.2%
Materials		4.0%
Cash¹		2.8%
Telecommunication Services		2.0%
Real Estate Investment Trusts		1.9%
Financials		0.9%
Utilities		0.5%

Total		100.0%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2011


Shares			Value

		Common Stocks — 97.3%
		Consumer Discretionary — 12.8%
	1,020	Amazon.com, Inc.*	$	208,580
	1,010	Chipotle Mexican Grill, Inc.*		311,272
	3,860	Ctrip.com International Ltd. ADR*		166,289
	4,460	DIRECTV, Class A*		226,657
	7,820	Home Depot, Inc.		283,240
	2,860	Lululemon Athletica, Inc.*		319,805
	2,530	McDonald’s Corp.		213,330
	1,680	Netflix, Inc.*		441,319
	540	Priceline.com, Inc.*		276,442

				2,446,934

		Consumer Staples — 12.2%
	12,180	Altria Group, Inc.		321,674
	7,320	McCormick & Co., Inc.		362,852
	5,060	PepsiCo, Inc.		356,376
	4,850	Philip Morris International, Inc.		323,835
	5,310	Procter & Gamble Co.		337,557
	5,130	The Coca-Cola Co.		345,198
	5,370	Wal-Mart Stores, Inc.		285,362

				2,332,854

		Energy — 7.2%
	2,490	Anadarko Petroleum Corp.		191,132
	2,210	Carbo Ceramics, Inc.		360,120
	1,790	Chevron Texaco Corp.		184,084
	6,620	Enterprise Products Partners LP		286,050
	3,010	Peabody Energy Corp.		177,319
	2,180	Schlumberger Ltd.		188,352

				1,387,057


Shares			Value

		Financials — 0.9%
	1,890	Aflac, Inc.	$	88,225
	2,050	JPMorgan Chase & Co.		83,927

				172,152

		Health Care — 13.4%
	5,520	Abbott Laboratories		290,462
	4,140	Edwards LifeSciences Corp.*		360,925
	8,400	Merck & Co., Inc.		296,436
	3,132	Novo-Nordisk A/S ADR		392,377
	6,770	Pfizer, Inc.		139,462
	6,060	UnitedHealth Group, Inc.		312,575
	6,730	Varian Medical Systems, Inc.*		471,235
	3,870	WellPoint, Inc.		304,840

				2,568,312

		Industrials — 11.3%
	4,410	Caterpillar, Inc.		469,489
	14,940	CSX Corp.		391,727
	5,030	Deere & Co.		414,723
	5,030	Joy Global, Inc.		479,057
	3,890	Union Pacific Corp.		406,116

				2,161,112

		Information Technology — 31.1%
	2,750	Apple, Inc.*		923,092
	13,850	ARM Holdings PLC ADR		393,755
	11,440	Aruba Networks Inc.*		338,052
	6,470	Baidu, Inc. ADR*		906,641
	23,810	EMC Corp.*		655,965
	2,300	International Business Machines Corp.		394,565
	5,580	NetEase.com, Inc. ADR*		251,602


		4

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

Huntington VA Growth Fund

Portfolio of Investments (continued)

June 30, 2011


Shares			Value

		Common Stocks — (continued)
		Information Technology — (continued)
	12,780	Oracle Corp.	$	420,590
	6,820	Qualcomm, Inc.		387,308
	11,840	Rackspace Hosting, Inc.*		506,042
	2,680	Salesforce.com, Inc.*		399,266
	9,500	Tempur-Pedic International, Inc.*		394,250

				5,971,128

		Materials — 4.0%
	2,850	Allegheny Technologies, Inc.		180,890
	5,350	Du Pont (E.I.) de Nemours & Co.		289,168
	1,760	Freeport-McMoRan Copper & Gold, Inc., Class B		93,104
	2,810	Rio Tinto PLC ADR		203,219

				766,381

		Real Estate Investment Trusts — 1.9%
	3,410	Health Care REIT, Inc.		178,786
	2,750	Mid-America Apartment Communities, Inc.		185,543

				364,329

		Telecommunication Services — 2.0%
	12,660	Frontier Communications Corp.		102,166
	2,600	Verizon Communications, Inc.		96,798
	14,330	Windstream Corp.		185,717

				384,681


Shares			Value

		Utilities — 0.5%
	2,410	AGL Resources, Inc.	$	98,111

		Total Common Stocks (Cost $16,226,462)		18,653,051

		Cash Equivalents — 2.8%
	532,613	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		532,613

		Total Cash Equivalents (Cost $532,613)		532,613

		Total Investments (Cost $16,759,075) — 100.1%		19,185,664

		Liabilities in Excess of Other Assets — (0.1)%		(13,909	)

		Net Assets — 100.0%	$	19,171,755

(a)	Investment in affiliate.

(b)	Rate disclosed is the seven day yield as of June 30, 2011.

*	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.


		5

Huntington VA Income Equity Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2011


Asset Allocation	Percentage of Market Value
Energy		18.8%
Financials		13.4%
Industrials		12.1%
Consumer Staples		11.2%
Health Care		11.1%
Real Estate Investment Trusts		7.2%
Utilities		6.6%
Information Technology		6.1%
Consumer Discretionary		6.1%
Materials		3.1%
Telecommunication Services		2.9%
Cash¹		1.4%

Total		100.0%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2011


Shares			Value

		Common Stocks — 98.4%
		Consumer Discretionary — 6.1%
	18,000	H & R Block, Inc.	$	288,720
	4,700	Time Warner Cable, Inc., Class A		366,788
	7,900	Time Warner, Inc.		287,323
	5,100	Whirlpool Corp.		414,732

				1,357,563

		Consumer Staples — 11.1%
	13,600	Altria Group, Inc.		359,176
	5,800	Kellogg Co.		320,856
	4,100	Kimberly-Clark Corp. (a)		272,896
	6,600	Philip Morris International, Inc.		440,682
	11,800	Sysco Corp.		367,924
	11,200	Unilever NV		367,920
	6,700	Wal-Mart Stores, Inc.		356,038

				2,485,492

		Energy — 18.8%
	9,400	BP PLC ADR		416,326
	4,300	Chevron Texaco Corp.		442,212
	5,600	ConocoPhillips		421,064
	13,700	Enerplus Corp.		432,920
	7,800	Eni SpA ADR		370,890
	4,700	Exxon Mobil Corp.		382,486
	2,300	PetroChina Co. Ltd. ADR		335,869
	9,800	Repsol YPF SA ADR (a)		340,648
	5,900	Royal Dutch Shell PLC ADR		419,667
	6,300	Total SA ADR		364,392
	5,900	YPF SA ADR		265,795

				4,192,269


Shares			Value

		Financials — 13.4%
	6,000	Bank of Montreal	$	381,300
	5,200	Canadian Imperial Bank of Commerce		410,644
	7,700	HSBC Holdings PLC ADR		382,074
	4,400	M&T Bank Corp.		386,980
	9,400	NYSE Euronext		322,138
	6,500	PNC Financial Services Group, Inc.		387,465
	11,300	Sun Life Financial, Inc.		339,904
	6,400	The Travelers Cos., Inc.		373,632

				2,984,137

		Health Care — 11.0%
	7,800	AstraZeneca PLC ADR		390,546
	5,300	Baxter International, Inc.		316,357
	12,300	Eli Lilly & Co.		461,619
	12,600	Merck & Co., Inc.		444,654
	21,100	Pfizer, Inc.		434,660
	10,300	Sanofi-Aventis ADR		413,751

				2,461,587

		Industrials — 12.1%
	3,700	Caterpillar, Inc.		393,902
	6,100	Eaton Corp.		313,845
	5,400	General Dynamics Corp.		402,408
	22,700	General Electric Co.		428,122
	5,300	Lockheed Martin Corp.		429,141
	20,800	R.R. Donnelley & Sons Co.		407,888
	8,600	Waste Management, Inc. (a)		320,522

				2,695,828


		6

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

Huntington VA Income Equity Fund

Portfolio of Investments (continued)

June 30, 2011


Shares			Value

		Common Stocks — (continued)
		Information Technology — 6.1%
	24,600	Applied Materials, Inc.	$	320,046
	21,300	Cisco Systems, Inc.		332,493
	16,700	Intel Corp.		370,072
	13,200	Microsoft Corp.		343,200

				1,365,811

		Materials — 3.1%
	11,900	International Paper Co.		354,858
	9,600	The Dow Chemical Co.		345,600

				700,458

		Real Estate Investment Trusts — 7.2%
	11,300	HCP, Inc.		414,597
	8,300	Health Care REIT, Inc.		435,169
	10,000	Mack-Cali Realty Corp.		329,400
	3,700	Simon Property Group, Inc.		430,051

				1,609,217

		Telecommunication Services — 2.9%
	10,300	AT&T, Inc.		323,523
	8,800	Verizon Communications, Inc.		327,624

				651,147

		Utilities — 6.6%
	10,100	Ameren Corp.		291,284
	6,100	Dominion Resources, Inc., Class A		294,447


Shares			Value

		Utilities — (continued)
	5,500	Integrys Energy Group, Inc.	$	285,120
	10,700	PPL Corp.		297,781
	6,500	Progress Energy, Inc.		312,065

				1,480,697

		Total Common Stocks (Cost $19,970,685)		21,984,206

		Cash Equivalents — 1.4%
	311,188	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)		311,188

		Total Cash Equivalents (Cost $311,188)		311,188

		Total Investments (Cost $20,281,873) — 99.8%		22,295,394

		Other Assets in Excess of Liabilities — 0.2%		48,396

		Net Assets — 100.0%	$	22,343,790

(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, 2011.


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, 2011


Asset Allocation	Percentage of Market Value
Japan		17.4%
United Kingdom		16.3%
France		8.5%
Germany		7.9%
Cash¹		7.1%
Sweden		4.8%
Singapore		4.8%
Switzerland		4.8%
Australia		4.1%
Canada		3.8%
Hong Kong		3.4%
Exchange-Traded Funds		3.1%
Netherlands		2.7%
Italy		2.1%
Spain		1.7%
Taiwan		1.5%
United States		1.4%
Israel		1.4%
Mexico		1.3%
Republic of South Korea		1.1%
Closed-End Fund		0.8%

Total		100.0%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2011


Shares			Value

		Common Stocks — 88.7%
		Australia — 4.0%
		Consumer Staples — 1.9%
	88,000	Foster’s Group Ltd.	$	486,031

		Materials — 2.1%
	12,000	BHP Billiton Ltd.		563,676

				1,049,707

		Canada — 3.8%
		Energy — 2.0%
	8,970	Cenovus Energy, Inc.		337,810
	5,870	EnCana Corp.		180,737

				518,547

		Telecommunication Services — 1.8%
	12,000	BCE, Inc.		471,480

				990,027

		France — 8.5%
		Energy — 1.6%
	7,200	Total SA ADR		416,448

		Financials — 3.8%
	22,809	AXA SA ADR		519,589


Shares			Value

		Financials — (continued)
	6,147	BNP Paribas	$	474,519

				994,108

		Health Care — 1.6%
	5,000	Sanofi-Aventis		402,001

		Utilities — 1.5%
	9,323	GDF Suez ADR		342,620
	1,600	GDF Suez		58,554

				401,174

				2,213,731

		Germany — 7.9%
		Consumer Staples — 1.7%
	6,400	Henkel AG & Co. KGaA		444,301

		Industrials — 4.0%
	14,600	GEA Group AG		522,661
	3,636	Siemens AG ADR		500,059

				1,022,720

		Materials — 2.2%
	7,500	K+S AG		576,463

				2,043,484

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


		8

Huntington VA International Equity Fund

Portfolio of Investments (continued)

June 30, 2011


Shares			Value

		Common Stocks — (continued)
		Hong Kong — 3.4%
		Consumer Discretionary — 1.2%
	158,000	Li & Fung Ltd.	$	314,713

		Financials — 2.2%
	9,600	Hong Kong Exchanges and Clearing Ltd.		201,211
	50,800	The Wharf (Holdings) Ltd.		352,846

				554,057

				868,770

		Israel — 1.4%
		Health Care — 1.4%
	7,700	Teva Pharmaceutical Industries Ltd. ADR		371,294

		Italy — 2.1%
		Energy — 1.5%
	7,300	Saipem SpA		376,883

		Financials — 0.6%
	75,000	UniCredit SpA		158,799

				535,682

		Japan — 17.3%
		Consumer Discretionary — 3.1%
	9,010	Honda Motor Co. Ltd. ADR		347,876
	21,390	Panasonic Corp. ADR		261,814
	7,600	Sony Corp. ADR		200,564

				810,254

		Consumer Staples — 1.0%
	6,000	Unicharm Corp.		261,599

		Financials — 0.7%
	49	Japan Prime Realty Investment Corp.		129,644
	6	Japan Real Estate Investment Corp.		58,953

				188,597

		Industrials — 6.1%
	3,900	FANUC Ltd.		648,183
	15,000	KOMATSU Ltd.		465,251
	10,000	Makita Corp.		463,325

				1,576,759

		Information Technology — 4.9%
	10,051	Canon, Inc. ADR		478,327
	1,700	KEYENCE Corp.		480,194
	4,800	Murata Manufacturing Co. Ltd.		318,986

				1,277,507

		Materials — 1.5%
	26,000	Kuraray Co. Ltd.		379,480

				4,494,196

		Mexico — 1.3%
		Telecommunication Services — 1.3%
	6,200	America Movil SA de CV., Series L ADR		334,056

		Netherlands — 2.7%
		Energy — 1.6%
	11,600	Royal Dutch Shell PLC, Class A		412,883


Shares			Value

		Industrials — 1.1%
	11,025	Koninklijke (Royal) Philips Electronics NV NYS	$	283,122

				696,005

		Republic of South Korea — 1.0%
		Materials — 1.0%
	2,500	POSCO ADR		271,550

		Singapore — 4.8%
		Financials — 1.8%
	39,000	DBS Group Holdings Ltd.		465,473
	10,200	K-Green Trust		8,802

				474,275

		Industrials — 1.8%
	50,600	Keppel Corp Ltd.		456,442

		Telecommunication Services — 1.2%
	12,005	Singapore Telecommunications ADR		308,048

				1,238,765

		Spain — 1.7%
		Financials — 1.7%
	21,708	Banco Bilbao Vizcaya Argentaria SA ADR		254,852
	16,000	Banco Santander SA ADR		184,160

				439,012

		Sweden — 4.8%
		Consumer Discretionary — 1.7%
	12,800	Hennes & Mauritz AB		441,317

		Consumer Staples — 1.0%
	18,900	Svenska Cellulosa AB (SCA)		266,060

		Industrials — 2.1%
	31,000	Volvo AB		541,513

				1,248,890

		Switzerland — 4.7%
		Financials — 1.0%
	4,100	ACE Ltd.		269,862

		Health Care — 2.0%
	8,290	Novartis AG ADR		506,602

		Materials — 1.7%
	6,730	Syngenta AG ADR		454,679

				1,231,143

		Taiwan — 1.6%
		Information Technology — 1.6%
	31,877	Taiwan Semiconductor Manufacturing Co. Ltd. ADR		401,969

		United Kingdom — 16.3%
		Consumer Discretionary — 1.8%
	24,750	Pearson PLC ADR		470,498

		Consumer Staples — 2.3%
	3,600	Reckitt Benckiser Group PLC		198,732
	6,874	Tesco PLC ADR		134,730
	39,000	Tesco PLC		251,593

				585,055

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, 2011


Shares			Value

		Common Stocks — (continued)
		Energy — 1.6%
	3,750	BG Group PLC ADR	$	428,438

		Financials — 3.5%
	103,000	Barclays PLC		423,884
	18,175	Standard Chartered PLC		477,745

				901,629

		Health Care — 1.6%
	9,645	GlaxoSmithKline PLC ADR		413,771

		Industrials — 1.4%
	34,700	Rolls-Royce Group PLC*		359,167

		Telecommunication Services — 2.0%
	194,000	Vodafone Group PLC		514,614

		Utilities — 2.1%
	16,100	Scottish & Southern Energy PLC		359,902
	8,525	Scottish & Southern Energy PLC ADR		191,983

				551,885

				4,225,057

		United States — 1.4%
		Energy — 1.4%
	4,080	Schlumberger Ltd.		352,512

		Total Common Stocks (Cost $19,590,557)		23,005,850

		Exchange-Traded Funds — 3.1%
	15,000	iShares MSCI Malaysia Index Fund		229,200
	4,800	iShares MSCI South Korea Index Fund		312,000


Shares			Value

		Exchange-Traded Funds — (continued)
	13,100	iShares MSCI Taiwan Index Fund	$	198,858
	5,000	ProShares UltraShort Yen Fund*		75,650

		Total Exchange-Traded Funds (Cost $608,266)		815,708

		Closed-End Fund — 0.8%
	8,966	Morgan Stanley India Investment Fund, Inc.*		196,714

		Total Closed-End Fund (Cost $154,243)		196,714

		Cash Equivalents — 7.1%
	1,833,846	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		1,833,846

		Total Cash Equivalents (Cost $1,833,846)		1,833,846

		Total Investments (Cost $22,186,912) — 99.7%		25,852,118

		Other Assets in Excess of Liabilities — 0.3%		83,587

		Net Assets — 100.0%	$	25,935,705

(a)	Investment in affiliate.

(b)	Rate disclosed is the seven day yield as of June 30, 2011.

*	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, 2011


Asset Allocation	Percentage of Market Value
Information Technology		17.6%
Industrials		12.6%
Health Care		10.4%
Consumer Discretionary		9.8%
Financials		9.7%
Energy		9.4%
Consumer Staples		8.9%
Cash¹		8.5%
Utilities		4.6%
Telecommunication Services		3.5%
Materials		3.4%
Real Estate Investment Trusts		1.6%

Total		100.0%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2011


Shares			Value

		Common Stocks — 91.5%
		Consumer Discretionary — 9.8%
	300	AutoZone, Inc.*	$	88,455
	2,100	Johnson Controls, Inc.		87,486
	625	McDonald’s Corp.		52,700
	3,700	Newell Rubbermaid, Inc.		58,386
	1,300	Omnicom Group, Inc.		62,608
	450	Polo Ralph Lauren Corp.		59,674
	900	Scripps Networks Interactive, Inc., Class A		43,992
	500	Starwood Hotels & Resorts Worldwide, Inc.		28,020
	1,000	Target Corp.		46,910
	1,000	The TJX Cos., Inc.		52,530
	750	The Walt Disney Co.		29,280
	650	V.F. Corp.		70,564

				680,605

		Consumer Staples — 8.9%
	2,100	Avon Products, Inc.		58,800
	1,000	Colgate-Palmolive Co.		87,410
	1,700	Constellation Brands, Inc.*		35,394
	1,500	Kellogg Co.		82,980
	1,350	Kraft Foods, Inc.		47,561
	1,100	McCormick & Co., Inc.		54,527
	800	PepsiCo, Inc.		56,344
	1,400	Procter & Gamble Co.		88,998
	800	The Clorox Co.		53,952
	900	Wal-Mart Stores, Inc.		47,826

				613,792

		Energy — 9.4%
	900	Apache Corp.		111,051


Shares			Value

		Energy — (continued)
	600	Baker Hughes, Inc.	$	43,536
	500	ConocoPhillips		37,595
	800	Denbury Resources, Inc.*		16,000
	1,100	Devon Energy Corp.		86,691
	350	EOG Resources, Inc.		36,593
	1,343	Exxon Mobil Corp.		109,293
	800	Marathon Oil Corp.		42,144
	750	Occidental Petroleum Corp.		78,030
	900	Peabody Energy Corp.		53,019
	900	Rowan Cos., Inc.*		34,929

				648,881

		Financials — 9.7%
	600	Aflac, Inc.		28,008
	3,000	Bank of America Corp.		32,880
	3,700	Discover Financial Services		98,975
	2,900	JPMorgan Chase & Co.		118,726
	1,300	Lincoln National Corp.		37,037
	5,000	Regions Financial Corp.		31,000
	500	State Street Corp.		22,545
	2,100	The Allstate Corp.		64,113
	700	Torchmark Corp.		44,898
	3,000	U.S. Bancorp		76,530
	4,054	Wells Fargo & Co.		113,755

				668,467

		Health Care — 10.4%
	1,000	Becton, Dickinson & Co.		86,170
	500	C.R. Bard, Inc.		54,930
	1,400	Johnson & Johnson		93,128
	1,100	McKesson Corp.		92,015

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, 2011


Shares			Value

		Common Stocks — (continued)
		Health Care — (continued)
	1,850	Medtronic, Inc.	$	71,280
	4,200	Mylan Laboratories, Inc.*		103,614
	1,300	Patterson Cos., Inc.		42,757
	900	Stryker Corp.		52,821
	1,000	Thermo Fisher Scientific, Inc.*		64,390
	900	Zimmer Holdings, Inc.*		56,880

				717,985

		Industrials — 12.6%
	600	Cummins, Inc.		62,094
	500	Flowserve Corp.		54,945
	1,100	General Dynamics Corp.		81,972
	1,400	Illinois Tool Works, Inc.		79,086
	600	Jacobs Engineering Group, Inc.*		25,950
	1,000	Pall Corp.		56,230
	400	Stericycle, Inc.*		35,648
	1,200	Textron, Inc.		28,332
	750	Tyco International Ltd.		37,073
	1,400	Union Pacific Corp.		146,160
	1,250	United Parcel Service, Inc., Class B		91,162
	1,300	United Technologies Corp.		115,063
	375	W.W. Grainger, Inc.		57,619

				871,334

		Information Technology — 17.6%
	1,300	Akamai Technologies, Inc.*		40,911
	300	Apple, Inc.*		100,701
	1,200	BMC Software, Inc.*		65,640
	4,200	Cisco Systems, Inc.		65,562
	1,500	Cognizant Technology Solutions Corp., Class A*		110,010
	2,400	EMC Corp.*		66,120
	1,500	Fiserv, Inc.*		93,945
	150	Google, Inc., Class A*		75,957
	400	International Business Machines Corp.		68,620
	1,700	Intuit, Inc.*		88,162
	13,000	Jabil Circuit, Inc.		262,600
	2,025	Microsoft Corp.		52,650
	1,300	VeriSign, Inc.*		43,498
	7,848	Xerox Corp.		81,698

				1,216,074

		Materials — 3.4%
	3,600	Ball Corp.		138,456
	325	Cliffs Natural Resources, Inc.		30,046
	500	The Dow Chemical Co.		18,000
	2,500	Titanium Metals Corp.		45,800

				232,302

		Real Estate Investment Trusts — 1.6%
	1,400	HCP, Inc.		51,366
	3,300	Host Hotels & Resorts, Inc.		55,935

				107,301


Shares			Value

		Telecommunication Services — 3.5%
	1,450	AT&T, Inc.	$	45,545
	1,700	CenturyLink, Inc.		68,731
	3,450	Verizon Communications, Inc.		128,443

				242,719

		Utilities — 4.6%
	1,300	Consolidated Edison, Inc.		69,212
	1,000	Dominion Resources, Inc., Class A		48,270
	600	Entergy Corp.		40,968
	700	Integrys Energy Group, Inc.		36,288
	1,100	Pinnacle West Capital Corp.		49,038
	1,200	Progress Energy, Inc.		57,612
	600	Wisconsin Energy Corp.		18,810

				320,198

		Total Common Stocks (Cost $5,379,922)		6,319,658

		Rights — 0.0%
		Health Care — 0.0%
	700	Sanofi-Aventis*, Expires 12/31/20		1,687

		Total Rights (Cost $1,648)		1,687

		Cash Equivalents — 8.5%
	592,003	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		592,003

		Total Cash Equivalents (Cost $592,003)		592,003

		Total Investments (Cost $5,973,573) — 100.0%		6,913,348

		Liabilities in Excess of Other Assets — (0.0)%		(2,790	)

		Net Assets — 100.0%	$	6,910,558

(a)	Investment in affiliate.

(b)	Rate disclosed is the seven day yield as of June 30, 2011.

*	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, 2011


Asset Allocation	Percentage of Market Value
Information Technology		17.6%
Industrials		17.0%
Health Care		12.9%
Consumer Discretionary		10.1%
Financials		9.4%
Materials		7.3%
Energy		6.7%
Real Estate Investment Trusts		5.8%
Cash¹		4.6%
Consumer Staples		4.4%
Utilities		3.9%
Telecommunication Services		0.3%

Total		100.0%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2011


Shares			Value

		Common Stocks — 95.4%
		Consumer Discretionary — 10.1%
	910	Advance Auto Parts, Inc.	$	53,226
	3,220	Bob Evans Farms, Inc.		112,603
	2,800	BorgWarner, Inc.*		226,212
	2,000	Coinstar, Inc.*		109,080
	2,600	Guess?, Inc.		109,356
	2,600	Kohl’s Corp.		130,026
	2,500	Mohawk Industries, Inc.*		149,975
	5,058	Nordstrom, Inc.		237,423
	3,120	PetSmart, Inc.		141,554
	850	Polo Ralph Lauren Corp.		112,718
	1,940	Ross Stores, Inc.		155,433
	4,682	Royal Caribbean Cruises Ltd.*		176,230
	2,020	V.F. Corp.		219,291
	530	Whirlpool Corp.		43,100
	1,000	Wolverine World Wide, Inc.		41,750

				2,017,977

		Consumer Staples — 4.4%
	8,060	Church & Dwight Co., Inc.		326,752
	3,270	Constellation Brands, Inc.*		68,081
	2,120	Corn Products International, Inc.		117,194
	3,700	Dr. Pepper Snapple Group, Inc.		155,141
	2,690	Ruddick Corp.		117,123
	2,560	The Fresh Market, Inc.*		99,021

				883,312

		Energy — 6.7%
	5,958	Chesapeake Energy Corp.		176,893
	2,410	CMS Energy Corp.		47,453


Shares			Value

		Energy — (continued)
	2,610	Forest Oil Corp.*	$	69,713
	2,580	Helmerich & Payne, Inc.		170,590
	2,100	Murphy Oil Corp.		137,886
	3,924	Noble Energy, Inc.		351,708
	5,320	Oceaneering International, Inc.		215,460
	1,393	Unit Corp.*		84,875
	4,638	Weatherford International Ltd.*		86,962

				1,341,540

		Financials — 9.4%
	1,300	Allied World Assurance Co Holdings AG		74,854
	3,600	Cincinnati Financial Corp.		105,048
	3,459	City National Corp.		187,651
	580	Everest Re Group Ltd.		47,415
	4,410	First American Financial Corp.		69,017
	7,600	First Niagara Financial Group, Inc.		100,320
	2,870	Highwoods Properties, Inc.		95,083
	2,800	Invesco Ltd.		65,520
	1,200	Jones Lang LaSalle, Inc.		113,160
	2,567	Legg Mason, Inc.		84,095
	5,740	Principal Financial Group		174,611
	2,730	Prosperity Bancshares, Inc.		119,629
	2,800	T. Rowe Price Group, Inc.		168,952
	3,907	Torchmark Corp.		250,595
	3,510	Trustmark Corp.		82,169
	2,000	Unum Group		50,960
	2,660	Waddell & Reed Financial, Inc.		96,691

				1,885,770

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, 2011


Shares			Value

		Common Stocks — (continued)
		Health Care — 12.9%
	7,600	AmerisourceBergen Corp.	$	314,640
	1,580	Biogen Idec, Inc.*		168,934
	2,400	Coventry Health Care, Inc.*		87,528
	6,256	Life Technologies Corp.*		325,750
	5,649	Lincare Holdings, Inc.		165,346
	4,280	Owens & Minor, Inc.		147,617
	2,000	Quest Diagnostics, Inc.		118,200
	4,140	St. Jude Medical, Inc.		197,395
	2,721	Teleflex, Inc.		166,144
	8,613	Thermo Fisher Scientific, Inc.*		554,591
	4,920	Watson Pharmaceutical, Inc.*		338,152

				2,584,297

		Industrials — 17.0%
	1,275	Alliant Techsystems, Inc.		90,946
	3,800	CNH Global NV NYS*		146,870
	6,012	Cooper Industries PLC		358,736
	1,800	Cummins, Inc.		186,282
	2,000	Elbit Systems Ltd.		95,520
	2,900	EMCOR Group, Inc.*		84,999
	450	Flowserve Corp.		49,451
	3,600	General Cable Corp.*		153,288
	6,800	John Bean Technologies Corp.		131,376
	6,838	Kennametal, Inc.		288,632
	4,959	L-3 Communications Holdings, Inc.		433,665
	3,279	Pall Corp.		184,378
	2,934	Parker Hannifin Corp.		263,297
	1,300	Precision Castparts Corp.		214,045
	2,500	Quanex Building Products Corp.		40,975
	400	Rockwell International Corp.		34,704
	2,700	Ryder System, Inc.		153,495
	3,900	Thomas & Betts Corp.*		210,015
	1,300	UniFirst Corp.		73,047
	3,190	Watsco, Inc.		216,888

				3,410,609

		Information Technology — 17.6%
	1,400	Amdocs Ltd.*		42,546
	14,160	Amkor Technology, Inc.*		87,367
	2,795	Benchmark Electronics, Inc.*		46,118
	2,430	BMC Software, Inc.*		132,921
	3,100	Broadcom Corp., Class A*		104,284
	5,110	Citrix Systems, Inc.*		408,800
	6,800	CTS Corp.		65,756
	1,000	Cymer, Inc.*		49,510
	4,205	Fidelity National Information Services, Inc.		129,472
	1,800	Fiserv, Inc.*		112,734
	3,632	FLIR Systems, Inc.		122,435
	5,110	Forrester Research, Inc.*		168,426
	4,200	Harris Corp.		189,252
	2,250	InterDigital, Inc.*		91,912
	3,530	j2 Global Communications, Inc.*		99,652
	3,700	JDA Software Group, Inc.*		114,293
	3,250	Molex, Inc.		83,753


Shares			Value

		Information Technology — (continued)
	1,900	Multi-Fineline Electronix, Inc.*	$	41,059
	3,948	NCR Corp.*		74,578
	6,300	NVIDIA Corp.*		100,390
	14,220	ON Semiconductor Corp.*		148,883
	3,260	Progress Software Corp.*		78,664
	2,220	SanDisk Corp.*		92,130
	4,000	Synopsys, Inc.*		102,840
	2,600	Syntel, Inc.		153,712
	6,368	Teradata Corp.*		383,354
	2,190	Veeco Instruments, Inc.*		106,018
	13,880	Vishay Intertechnology, Inc.*		208,755

				3,539,614

		Materials — 7.3%
	2,100	Albemarle Corp.		145,320
	911	Allegheny Technologies, Inc.		57,821
	2,300	AptarGroup, Inc.		120,382
	3,370	Arch Coal, Inc.		89,844
	1,500	Ball Corp.		57,690
	2,260	Cia de Minas Buenaventura S.A.		85,835
	3,700	Cytec Industries, Inc.		211,603
	3,400	FMC Corp.		292,468
	1,800	Innophos Holdings, Inc.		87,840
	1,550	PPG Industries, Inc.		140,724
	800	Schnitzer Steel Industries, Inc.		46,080
	1,200	Silver Wheaton Corp.		39,600
	2,500	Sonoco Products Co.		88,850

				1,464,057

		Real Estate Investment Trusts — 5.8%
	1,860	Alexandria Real Estate Equities, Inc.		144,001
	2,230	Entertainment Properties Trust		104,141
	1,200	Federal Realty Investment Trust		102,216
	1,500	Home Properties, Inc.		91,320
	3,631	Host Hotels & Resorts, Inc.		61,545
	1,600	Liberty Property Trust		52,128
	2,720	Mack-Cali Realty Corp.		89,597
	1,700	Mid-America Apartment Communities, Inc.		114,699
	2,140	PS Business Parks, Inc.		117,914
	1,900	Rayonier, Inc.		124,165
	2,340	Sovran Self Storage, Inc.		95,940
	1,190	Ventas, Inc.		62,725

				1,160,391

		Telecommunication Services — 0.3%
	1,100	TELUS Corp.		57,860

		Utilities — 3.9%
	1,500	AGL Resources, Inc.		61,065
	840	DTE Energy Co.		42,017
	7,681	MDU Resources Group, Inc.		172,822
	1,800	National Fuel Gas Co.		131,040
	1,800	New Jersey Resources Corp.*		80,298
	4,300	Portland General Electric Co.		108,704
	8,028	Questar Corp.		142,176
	1,570	Xcel Energy, Inc.		38,151

				776,273

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


		14

Huntington VA Mid Corp America Fund

Portfolio of Investments (continued)

June 30, 2011


Shares			Value

		Common Stocks — (continued)
		Total Common Stocks (Cost $11,352,152)	$	19,121,700

		Cash Equivalents — 4.7%
	927,735	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		927,735

		Total Cash Equivalents (Cost $927,735)		927,735

		Total Investments (Cost $12,279,887) — 100.1%		20,049,435


Shares		Value

	Liabilities in Excess of Other Assets — (0.1)%	$	(11,477	)

	Net Assets — 100.0%	$	20,037,958

(a)	Investment in affiliate.

(b)	Rate disclosed is the seven day yield as of June 30, 2011.

*	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, 2011


Asset Allocation	Percentage of Market Value
Information Technology		29.1%
Health Care		15.9%
Industrials		13.4%
Consumer Discretionary		11.4%
Materials		6.5%
Consumer Staples		6.0%
Financials		5.5%
Cash¹		5.1%
Energy		4.0%
Utilities		1.5%
Real Estate Investment Trusts		1.1%
Options Purchased		0.5%

Total		100.0%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2011


Shares			Value

		Common Stocks — 96.1%
		Consumer Discretionary — 11.6%
	5,700	Ascena Retail Group, Inc.*	$	194,085
	6,500	Bally Technologies, Inc.*		264,420
	6,300	Best Buy Co., Inc.		197,883
	3,100	Dollar Tree, Inc.*		206,522
	1,800	Fossil, Inc.*		211,896
	5,300	The Buckle, Inc.		226,310
	1,600	Tractor Supply Co.		107,008

				1,408,124

		Consumer Staples — 6.1%
	1,500	Corn Products International, Inc.		82,920
	3,000	Diamond Foods, Inc.		229,020
	2,400	Green Mountain Coffee Roasters, Inc.*		214,224
	2,600	Hansen Natural Corp.*		210,470

				736,634

		Energy — 4.0%
	3,100	Consol Energy, Inc.		150,288
	4,700	EnCana Corp.		144,713
	6,000	Frontier Oil Corp.		193,860

				488,861

		Financials — 5.6%
	3,600	MetLife, Inc.		157,932
	7,100	Montpelier Re Holdings Ltd.		127,800
	6,000	MSCI, Inc., Class A*		226,080
	5,300	The Allstate Corp.		161,809

				673,621


Shares			Value

		Health Care — 16.2%
	2,580	Abbott Laboratories	$	135,760
	3,400	Celgene Corp. (a)*		205,088
	5,000	Cepheid, Inc.*		173,200
	6,700	Endo Pharmaceuticals Holdings, Inc.*		269,139
	8,600	Hologic, Inc.*		173,462
	3,700	Integra LifeSciences Holdings Corp.**		176,897
	8,000	Mylan Laboratories, Inc.*		197,360
	2,300	Perrigo Co. (a)		202,101
	8,000	ResMed, Inc.*		247,600
	3,500	Valeant Pharmaceuticals International, Inc.*		181,860

				1,962,467

		Industrials — 13.6%
	85,900	Capstone Turbine Corp.*		131,427
	2,000	Flowserve Corp.		219,780
	9,500	Greenbrier Cos., Inc.*		187,720
	3,100	Lindsay Corp.		213,280
	2,600	Nordson Corp.		142,610
	4,300	Robbins & Myers, Inc.		227,255
	2,400	Rockwell International Corp.		208,224
	8,000	The Manitowoc Company, Inc.		134,720
	7,600	Westport Innovations, Inc.*		182,552

				1,647,568

		Information Technology — 29.7%
	4,300	Akamai Technologies, Inc.*		135,321
	1,400	Baidu, Inc. ADR*		196,182
	4,800	BMC Software, Inc.*		262,560
	6,500	Cognex Corp.		230,295
	6,300	Cree, Inc.*		211,617

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


		16

Huntington VA New Economy Fund

Portfolio of Investments (continued)

June 30, 2011


Shares			Value

		Common Stocks — (continued)
		Information Technology — (continued)
	2,000	F5 Networks, Inc.*	$	220,500
	2,000	First Solar, Inc.*		264,540
	18,900	GT Solar International, Inc*		306,180
	17,300	MEMC Electronic Materials, Inc.*		147,569
	4,000	NetApp, Inc.*		211,120
	8,900	NVIDIA Corp.*		141,821
	7,400	RealD, Inc.*		173,086
	6,000	Riverbed Technology, Inc.*		237,540
	1,300	Salesforce.com, Inc.*		193,674
	16,500	Shanda Games Ltd. ADR*		107,580
	1,600	Sina Corp./China*		166,560
	5,900	TIBCO Software, Inc.*		171,218
	5,900	Western Digital Corp.*		214,642

				3,592,005

		Materials — 6.6%
	19,000	American Vanguard Corp.		246,430
	4,000	LSB Industries, Inc.*		171,680
	2,400	Potash Corporation of Saskatchewan, Inc.		136,776
	13,200	Titanium Metals Corp.		241,824

				796,710

		Real Estate Investment Trusts — 1.2%
	2,700	Ventas, Inc.		142,317

		Utilities — 1.5%
	2,300	Alliant Energy Corp.		93,518
	1,200	National Fuel Gas Co.		87,360

				180,878

		Total Common Stocks (Cost $11,488,952)		11,629,185


Contracts or Shares			Value

		Options Purchased — 0.6%
	450	iPath S&P 500 VIX Mid-Term Futures ETN, Call @ $23, Expiring July 2011	$	22,050
	450	iPath S&P 500 VIX Short-Term Futures ETN, Call @ $21, Expiring July 2011		44,100

		Total Options Purchased (Cost $200,946)		66,150

		Cash Equivalents — 5.2%
	633,742	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)		633,742

		Total Cash Equivalents (Cost $633,742)		633,742

		Total Investments (Cost $12,323,640) — 101.9%		12,329,077

		Liabilities in Excess of Other Assets — (1.9)%		(228,974	)

		Net Assets — 100.0%	$	12,100,103

(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, 2011.

*	Non-income producing security.


ADR		—American Depositary Receipt
ETN		—Exchange-Traded Note

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, 2011


Asset Allocation	Percentage of Market Value
Energy		37.2%
Materials		23.0%
Industrials		13.2%
Real Estate Investment Trusts		10.9%
Exchange-Traded Funds		6.2%
Cash¹		3.7%
Closed-End Fund		1.8%
Consumer Staples		1.8%
Financials		1.6%
Options Purchased		0.6%

Total		100.0%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2011


Shares			Value

		Common Stocks — 90.1%
		Consumer Staples — 1.9%
	1,000	Bunge Ltd.	$	68,950

		Energy — 38.9%
	1,300	Arch Coal, Inc.		34,658
	2,000	Cameco Corp.		52,700
	1,600	Canadian Natural Resources Ltd.		66,976
	2,300	Canadian Oil Sands Ltd.		66,447
	2,300	Chesapeake Energy Corp.		68,287
	2,300	Consol Energy, Inc.		111,504
	3,240	El Paso Corp.		65,448
	1,570	Enterprise Products Partners LP		67,840
	600	Frontier Oil Corp.		19,386
	1,300	Hugoton Royalty Trust		29,562
	1,100	Linn Energy LLC		42,977
	900	National Oilwell Varco, Inc.		70,389
	1,975	Natural Resource Partners LP		65,511
	700	Noble Corp.		27,587
	1,200	Peabody Energy Corp.		70,692
	1,900	Penn Virginia Resource Partners LP		51,186
	2,300	Petrohawk Energy Corp.*		56,741
	1,600	Petroleo Brasileiro S.A. ADR		54,176
	500	QEP Resources, Inc.		20,915
	900	Rowan Cos., Inc.*		34,929
	1,400	Sasol Ltd. ADR		74,046
	400	Schlumberger Ltd.		34,560
	1,600	Spectra Energy Corp.		43,856
	986	StatoilHydro ASA ADR		25,094
	1,500	Teekay Corp.		46,320
	20,900	Uranium Energy Corp.*		63,954
	2,900	Valero Energy Corp.		74,153

				1,439,894


Shares			Value

		Industrials — 13.8%
	1,400	AGCO Corp.*	$	69,104
	300	Canadian National Railway Co.		23,970
	1,800	Chicago Bridge & Iron Co NV		70,020
	1,500	Deere & Co.		123,675
	1,000	Harsco Corp.		32,600
	1,100	Lindsay Corp.		75,680
	2,400	Manitowoc Co., Inc.		40,416
	1,400	Robbins & Myers, Inc.		73,990

				509,455

		Materials — 24.1%
	750	Agrium, Inc.		65,820
	500	BHP Billiton Ltd. ADR		47,315
	1,800	Cia de Minas Buenaventura SA ADR		68,364
	3,000	Olin Corp.		67,980
	2,200	Pan American Silver Corp.		67,958
	1,210	Potash Corp. of Saskatchewan, Inc.		68,958
	300	Praxair, Inc.		32,517
	1,080	Rio Tinto PLC ADR		78,106
	1,100	Sociedad Quimica y Minera de Chile SA ADR		71,192
	1,300	Southern Copper Corp.		42,731
	300	Terra Nitrogen Co. LP		41,253
	2,100	Vale SA ADR		67,095
	700	Valmont Industries, Inc.		67,473
	500	Walter Energy, Inc.		57,900
	800	Yara International ASA ADR		45,344

				890,006

		Real Estate Investment Trusts — 11.4%
	500	Avalonbay Communities, Inc.		64,200
	400	Boston Properties, Inc.		42,464
	4,700	Duke Realty Corp.		65,847
	1,500	Plum Creek Timber Co., Inc.		60,810

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


		18

Huntington VA Real Strategies Fund

Portfolio of Investments (continued)

June 30, 2011


Shares, Principal Amount or Contracts			Value

		Common Stocks — (continued)
		Real Estate Investment Trusts — (continued)
	1,000	Rayonier, Inc.	$	65,350
	703	Vornado Realty Trust		65,505
	2,700	Weyerhaeuser Co.		59,022

				423,198

		Total Common Stocks (Cost $2,825,310)		3,331,503

		Corporate Bonds — 1.7%
		Financials — 1.7%
	$50,000	Credit Suisse Securities USA LLC, 0.000%, 3/26/13 (a)		62,300

		Total Corporate Bonds (Cost $50,000)		62,300

		Exchange-Traded Funds — 6.4%
	500	Oil Services HOLDRs Trust		76,000
	2,000	Powershares DB Agriculture Fund*		63,480
	4,600	PowerShares DB US Dollar Index Bullish Fund*		97,658

		Total Exchange-Traded Funds (Cost $218,280)		237,138

		Closed-End Fund — 1.9%
	3,500	Central Fund of Canada Ltd., Class A		71,295

		Total Closed-End Fund (Cost $50,654)		71,295

		Options Purchased — 0.6%
	8	Diamond Offshore, Call @ $79, Expiring January 2012		2,336
	15	iPath S&P 500 VIX Mid Term Futures ETN, Call @ $65, Expiring January 2012		3,262
	15	iPath S&P 500 VIX Mid Term Futures ETN, Put @ $55, Expiring January 2012		12,000


Shares or Contracts			Value

		Options Purchased — (continued)
	10	Market Vectors Gold Miners ETF, Call @ $55, Expiring January 2012	$	4,550

		Total Options Purchased (Cost $35,368)		22,148

		Cash Equivalents — 3.9%
	142,687	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)		142,687

		Total Cash Equivalents (Cost $142,687)		142,687

		Total Investments (Cost $3,322,299) — 104.6%		3,867,071

		Liabilities in Excess of Other Assets — (4.6)%		(168,448	)

		Net Assets — 100.0%	$	3,698,623

(a)	Zero coupon capital appreciation bond.

(b)	Investment in affiliate.

(c)	Rate disclosed is the seven day yield as of June 30, 2011.

*	Non-income producing security.


ADR		—American Depositary Receipt
ETF		—Exchange-Traded Fund
ETN		—Exchange-Traded Note
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, 2011


Asset Allocation	Percentage of Market Value
Industrials		22.2%
Information Technology		15.8%
Consumer Staples		12.6%
Energy		10.7%
Financials		9.4%
Consumer Discretionary		9.0%
Health Care		7.0%
Exchange-Traded Funds		5.0%
Materials		4.1%
Telecommunication Services		3.9%
Cash¹		0.3%

Total		100.0%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2011


Shares			Value

		Common Stocks — 94.8%
		Consumer Discretionary — 9.1%
	3,900	Home Depot, Inc.	$	141,258
	4,000	McDonald’s Corp.		337,280
	4,100	The Walt Disney Co.		160,064

				638,602

		Consumer Staples — 12.6%
	4,100	Kraft Foods, Inc.		144,443
	4,000	Procter & Gamble Co.		254,280
	4,100	The Coca-Cola Co.		275,889
	4,100	Wal-Mart Stores, Inc.		217,874

				892,486

		Energy — 10.7%
	4,100	Chevron Texaco Corp.		421,644
	4,100	Exxon Mobil Corp.		333,658

				755,302

		Financials — 9.4%
	4,100	American Express Co.		211,970
	4,100	Bank of America Corp.		44,936
	4,100	JPMorgan Chase & Co.		167,854
	4,100	The Travelers Cos., Inc.		239,358

				664,118

		Health Care — 7.0%
	4,000	Johnson & Johnson		266,080
	4,100	Merck & Co., Inc.		144,689
	4,100	Pfizer, Inc.		84,460

				495,229


Shares			Value

		Industrials — 22.2%
	4,100	3M Co.	$	388,885
	4,100	Caterpillar, Inc.		436,486
	4,100	General Electric Co.		77,326
	4,100	The Boeing Co.		303,113
	4,100	United Technologies Corp.		362,891

				1,568,701

		Information Technology — 15.8%
	4,100	Cisco Systems, Inc.		64,001
	4,100	Hewlett-Packard Co.		149,240
	4,100	Intel Corp.		90,856
	4,100	International Business Machines Corp.		703,355
	4,000	Microsoft Corp.		104,000

				1,111,452

		Materials — 4.1%
	4,100	Alcoa, Inc.		65,026
	4,100	Du Pont (E.I.) de Nemours & Co.		221,605

				286,631

		Telecommunication Services — 3.9%
	4,000	AT&T, Inc.		125,640
	4,100	Verizon Communications, Inc.		152,643

				278,283

		Total Common Stocks (Cost $5,533,767)		6,690,804

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


		20

Huntington VA Rotating Markets Fund

Portfolio of Investments (continued)

June 30, 2011


Shares			Value

		Exchange-Traded Funds — 5.0%
	2,811	SPDR Dow Jones Industrial Average ETF Trust	$	348,086

		Total Exchange-Traded Funds (Cost $289,114)		348,086

		Cash Equivalents — 0.3%
	22,422	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)		22,422


	Value

Total Cash Equivalents (Cost $22,422)	$	22,422

Total Investments (Cost $5,845,303) — 100.1%		7,061,312

Liabilities in Excess of Other Assets — (0.1)%		(4,708	)

Net Assets — 100.0%	$	7,056,604

(a)	Investment in affiliate.

(b)	Rate disclosed is the seven day yield as of June 30, 2011.

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 Summary Table (Unaudited)

June 30, 2011


Asset Allocation	Percentage of Market Value
Industrials		16.8%
Health Care		15.4%
Energy		13.9%
Information Technology		13.2%
Cash¹		11.6%
Financials		9.1%
Consumer Discretionary		7.6%
Materials		7.4%
Utilities		1.8%
Consumer Staples		1.3%
Real Estate Investment Trusts		0.9%
Exchange-Traded Funds		0.5%
Telecommunications		0.5%

Total		100.0%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2011


Shares			Value

		Common Stocks — 87.9%
		Bermuda — 1.6%
		Financials — 1.6%
	15,750	Cal Dive International, Inc.*	$	502,740

		Brazil — 0.1%
		Consumer Discretionary — 0.1%
	1,000	Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR		46,950

		Chile — 0.2%
		Materials — 0.2%
	800	Sociedad Quimica y Minera de Chile SA ADR		51,776

		Finland — 1.2%
		Industrials — 1.2%
	2,000	Cargotec Oyj		102,502
	4,200	Kone Oyj		263,920

				366,422

		Germany — 0.5%
		Consumer Discretionary — 0.3%
	1,500	Douglas Holding AG		78,714

		Health Care — 0.2%
	1,900	Stada Arzneimittel AG		74,396

				153,110

		Hong Kong — 0.3%
		Consumer Discretionary — 0.3%
	13,000	Television Broadcasts Ltd.		85,868


Shares			Value

		Ireland — 0.5%
		Consumer Staples — 0.5%
	3,500	Kerry Group PLC	$	144,736

		Japan — 0.6%
		Consumer Discretionary — 0.2%
	2,000	Honda Motor Co. Ltd. ADR		77,220

		Industrials — 0.1%
	3,500	Sato Corp.		44,649

		Information Technology — 0.3%
	14,800	Furuno Electric Co. Ltd.		80,889

				202,758

		Sweden — 0.2%
		Consumer Discretionary — 0.2%
	9,600	Haldex AB		51,295

		United Kingdom — 0.6%
		Industrials — 0.6%
	4,800	Concentric AB*		33,235
	26,003	HALMA PLC		172,881

				206,116

		United States — 82.1%
		Consumer Discretionary — 6.5%
	40,000	Cabela’s, Inc., Class A*		1,086,000
	3,000	Jakks Pacific, Inc.*		55,230
	1,500	Papa John’s International, Inc.*		49,890
	500	Polo Ralph Lauren Corp.		66,305
	2,000	Rent-A-Center, Inc.		61,120

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


		22

Huntington VA Situs Fund

Portfolio of Investments (continued)

June 30, 2011


Shares			Value

		Common Stocks — (continued)
		Consumer Discretionary — (continued)
	25,000	Sonic Corp.*	$	265,750
	1,000	Sturm Ruger & Co., Inc.		21,950
	15,000	Urban Outfitters, Inc.*		422,250

				2,028,495

		Consumer Staples — 0.9%
	700	Darling International, Inc.*		12,390
	7,100	Fresh Del Monte Produce, Inc.		189,357
	1,500	Sanderson Farms, Inc.		71,670

				273,417

		Energy — 13.9%
	10,000	Alliance Resource Partners LP		774,500
	4,000	Atwood Oceanics, Inc.*		176,520
	6,000	Carbo Ceramics, Inc.		977,700
	11,000	Denbury Resources, Inc.*		220,000
	1,000	Dril-Quip, Inc.*		67,830
	1,744	Helix Energy Solutions Group, Inc.*		28,881
	9,000	Lufkin Industries, Inc.		774,450
	1,000	Newfield Exploration Co.*		68,020
	11,000	OYO Geospace Corp.*		1,100,000
	2,000	SM Energy Co.		146,960

				4,334,861

		Financials — 7.5%
	12,000	Cullen/Frost Bankers, Inc.		682,200
	8,500	Equity One, Inc.		158,440
	200	Ezcorp, Inc.*		7,115
	3,000	International Bancshares Corp.		50,190
	15,000	Protective Life Corp.		346,950
	30,000	Raymond James Financial, Inc.		964,500
	3,000	SCBT Financial Corp.		86,040
	1,500	WSFS Financial Corp.		59,475

				2,354,910

		Health Care — 15.2%
	20,000	Albany Molecular Research, Inc.*		96,200
	650	Bio-Rad Laboratories, Inc., Class A*		77,584
	17,000	Cerner Corp.*		1,038,870
	12,000	Edwards LifeSciences Corp.*		1,046,160
	600	Healthways, Inc.*		9,108
	500	Human Genome Sciences, Inc.*		13,065
	3,000	Kindred Healthcare, Inc.*		64,410
	15,000	Kinetic Concepts, Inc.*		864,450
	18,000	Lincare Holdings, Inc.		526,860
	8,000	Myriad Genetics, Inc.*		181,680
	7,000	Osiris Therapeutics, Inc.*		54,180
	1	PharMerica Corp.*		13
	500	PSS World Medical, Inc.*		14,005
	11,000	Watson Pharmaceutical, Inc.*		756,030

				4,742,615

		Industrials — 14.8%
	1,000	American Superconductor Corp.*		9,040
	5,000	BE Aerospace, Inc.*		204,050
	15,000	EnPro Industries, Inc.*		721,050
	5,500	Flowserve Corp.		604,395


Shares			Value

		Industrials — (continued)
	15,000	Harsco Corp.	$	489,000
	40,000	Jabil Circuit, Inc.		808,000
	2,000	Mine Safety Appliances Co.		74,680
	10,000	Quanta Services, Inc.*		202,000
	1,000	Ryder System, Inc.		56,850
	22,000	Southwest Airlines Co.		251,240
	30,000	Trinity Industries, Inc.		1,046,400
	5,000	Watts Water Technologies, Inc., Class A		177,050

				4,643,755

		Information Technology — 12.9%
	8,000	ACI Worldwide, Inc.*		270,160
	14,000	Anixter International, Inc.*		914,760
	4,000	Black Box Corp.		125,080
	5,000	Diodes, Inc.*		130,500
	3,000	Exlservice Holdings, Inc.*		69,300
	500	HFF, Inc.*		11,725
	3,000	Hutchinson Technology, Inc.*		6,810
	6,000	Imation Corp.*		56,640
	20,000	Red Hat, Inc.*		918,000
	3,000	Scansource, Inc.*		112,440
	10,000	Sigma Designs, Inc.*		76,400
	12,000	Standard Microsystems Corp.*		323,880
	25,000	Trimble Navigation Ltd.*		991,000
	1,000	TriQuint Semiconductor, Inc.*		10,190
	500	Tyler Technologies, Inc.*		13,390

				4,030,275

		Materials — 7.2%
	5,000	Albemarle Corp.		346,000
	600	Buckeye Technologies, Inc.		16,188
	3,000	Commercial Metals Co.		43,050
	1,500	Eagle Materials, Inc.		41,805
	3,000	Eastman Chemical Co.		306,210
	10,000	Owens-Illinois, Inc.*		258,100
	8,000	Quaker Chemical Corp.		344,080
	4,000	RTI International Metals, Inc.*		153,480
	4,800	Scotts Miracle-Gro Co.- Class A		246,288
	2,000	Terra Nitrogen Co. LP		275,020
	5,000	Texas Industries, Inc.		208,150
	500	United States Lime & Minerals, Inc.*		20,505

				2,258,876

		Real Estate Investment Trusts — 0.9%
	3,500	Camden Property Trust		222,670
	1,064	CBL & Associates Properties, Inc.		19,290
	2,000	Weingarten Realty Investors		50,320

				292,280

		Telecommunication Services — 0.5%
	12,300	General Communication, Inc., Class A*		148,461

		Utilities — 1.8%
	1,000	AGL Resources, Inc.		40,710
	5,000	Hawaiian Electric Industries, Inc.		120,300
	6,000	Portland General Electric Co.		151,680

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 Situs Fund

Portfolio of Investments (continued)

June 30, 2011


Shares			Value

		Common Stocks — (continued)
		Utilities — (continued)
	7,500	UGI Corp.	$	239,175

				551,865

				25,659,810

		Total Common Stocks (Cost $21,072,894)		27,471,581

		Exchange-Traded Funds — 0.5%
	3,500	iShares FTSE China 25 Index Fund		150,325

		Total Exchange-Traded Funds (Cost $89,145)		150,325


Shares			Value

		Cash Equivalents — 11.6%
	3,627,169	Huntington Money Market Fund, Interfund Shares, 0.010% (a) (b)	$	3,627,169

		Total Cash Equivalents (Cost $3,627,169)		3,627,169

		Total Investments (Cost $24,789,208) — 100.0%		31,249,075

		Liabilities in Excess of Other Assets — (0.0)%		(9,234	)

		Net Assets — 100.0%	$	31,239,841

(a)	Investment in affiliate.

(b)	Rate disclosed is the seven day yield as of June 30, 2011.

*	Non-income producing security.


ADR		—American Depositary Receipt
PLC		—Public Liability Co.

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


		24

Huntington VA Mortgage Securities Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2011


Asset Allocation	Percentage of Market Value
U.S. Government Mortgage Backed Securities		66.4%
U.S. Government Agencies		14.1%
Real Estate Investment Trusts		10.2%
Collateralized Mortgage Obligations		5.2%
Cash¹		4.1%

Total		100.0%

¹	Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2011


Principal Amount			Value

		U.S. Government Mortgage Backed Agencies — 66.2%
		Federal Home Loan Mortgage Corporation — 19.6%
	$23,096	Pool # M81004, 5.000%, 7/1/12	$	23,797
	18,198	Pool # M81004, 5.000%, 1/1/13		18,751
	11,300	Pool # B18052, 4.500%, 3/1/15		11,726
	23,336	Pool # J03237, 5.500%, 8/1/16		25,252
	13,062	Pool # E96459, 5.000%, 5/1/18		14,116
	128,249	Pool # J10396, 4.000%, 7/1/19		135,658
	12,734	Pool # G18015, 4.500%, 9/1/19		13,606
	6,860	Pool # G18015, 4.500%, 10/1/19		7,330
	57,542	Pool # G12425, 5.000%, 7/1/21		62,020
	45,783	Pool # G12425, 6.000%, 7/1/21		50,144
	52,622	Pool # G12425, 5.500%, 10/1/21		56,943
	75,085	Pool # E02402, 6.000%, 10/1/22		82,659
	37,081	Pool # C90699, 5.000%, 1/1/24		40,011
	13,010	Pool # C90699, 5.500%, 6/1/24		14,070
	154,597	Pool # G13629, 4.500%, 8/1/24		163,978
	157,894	Pool # J11053, 4.500%, 10/1/24		167,476
	256,950	Pool # J11829, 4.000%, 3/1/25		268,648
	208,055	Pool # E02402, 4.000%, 5/1/25		217,007
	30,096	Pool # C91296, 6.000%, 11/1/26		33,057
	263,822	Pool # D97248, 5.500%, 4/1/27		286,307
	103,868	Pool # C91296, 5.000%, 5/1/28		110,943
	187,483	Pool # C91296, 4.500%, 6/1/29		195,771
	247,549	Pool # C91296, 4.500%, 1/1/30		258,492
	264,056	Pool # C91296, 5.000%, 4/1/30		282,042
	37,261	Pool # 1G0865, 4.837%, 7/1/35 (a)		39,304
	93,132	Pool # A55565, 6.000%, 12/1/36		102,670
	97,035	Pool # G03498, 5.500%, 11/1/37		105,059
	352,780	Pool # A93316, 4.500%, 8/1/40		364,958
	491,155	Pool # A93936, 4.000%, 9/1/40		491,457
	278,108	Pool # A93936, 4.500%, 9/1/40		287,708

				3,930,960


Principal Amount			Value

		Federal National Mortgage Association — 35.3%
	$132,451	Pool # 786729, 5.500%, 8/1/19	$	144,715
	75,175	Pool # 254486, 5.500%, 9/1/22		82,112
	307,875	Pool # 962070, 4.000%, 3/1/23		322,228
	130,694	Pool # 889255, 5.000%, 3/1/23		140,579
	12,199	Pool # 255360, 5.000%, 9/1/23		13,156
	7,595	Pool # 255360, 5.000%, 8/1/24		8,176
	169,499	Pool # 935763, 4.000%, 11/1/24		177,242
	469,784	Pool # 932438, 4.000%, 1/1/25		490,511
	30,708	Pool # 256213, 5.500%, 4/1/25		33,465
	27,818	Pool # 357771, 5.000%, 5/1/25		29,948
	29,835	Pool # 256213, 5.500%, 5/1/25		32,513
	29,717	Pool # 256213, 5.500%, 6/1/25		32,385
	106,512	Pool # 256213, 4.500%, 6/1/25		113,535
	23,192	Pool # 256213, 5.000%, 7/1/25		24,968
	84,967	Pool # 256213, 4.500%, 11/1/25		90,569
	29,410	Pool # 256213, 6.000%, 2/1/26		32,248
	120,743	Pool # 257281, 5.000%, 4/1/28		129,215
	83,880	Pool # 257281, 5.000%, 6/1/28		89,765
	248,093	Pool # 257281, 4.500%, 6/1/28		259,448
	190,604	Pool # MA0171, 4.500%, 7/1/29		199,328
	216,887	Pool # AC1219, 4.500%, 8/1/29		226,814
	161,348	Pool # MA0171, 4.500%, 9/1/29		168,734
	311,753	Pool # MA0171, 5.000%, 5/1/30		333,431
	240,722	Pool # MA0171, 4.000%, 11/1/30		245,801
	250,000	Pool # MA0171, 4.000%, 7/1/31		255,275
	15,146	Pool # 721540, 5.000%, 7/1/33		16,187
	92,027	Pool # 746683, 5.500%, 10/1/33		100,212
	20,368	Pool # 786457, 5.284%, 7/1/34 (a)		21,838
	17,653	Pool # 845573, 5.371%, 2/1/36 (a)		18,782
	105,533	Pool # 745511, 5.000%, 4/1/36		112,410
	93,949	Pool # 831487, 5.500%, 4/1/36		101,879
	97,862	Pool # 868935, 5.500%, 5/1/36		106,122
	67,076	Pool # 903812, 5.500%, 12/1/36		72,738
	30,171	Pool # 907484, 6.000%, 1/1/37		33,195

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 Summary Table (continued)

June 30, 2011


Principal Amount			Value

		U.S. Government Mortgage Backed Agencies — (continued)
		Federal National Mortgage Association — (continued)
	$232,739	Pool # AD7906, 5.000%, 7/1/40	$	247,759
	432,636	Pool # AD7906, 5.000%, 7/1/40		460,557
	484,119	Pool # AE4310, 4.000%, 9/1/40		484,803
	241,591	Pool # AE4628, 4.500%, 10/1/40		250,308
	291,521	Pool # AE7535, 4.000%, 10/1/40		291,932
	282,196	Pool # AE0395, 4.500%, 10/1/40		292,410
	288,328	Pool # AE8395, 4.000%, 11/1/40		288,735
	496,360	Pool # AH6655, 4.000%, 2/1/41		497,060

				7,073,088

		Government National Mortgage Association — 11.3%
	10,644	Pool # 3751, 5.500%, 8/20/19		11,557
	30,145	Pool # 3637, 5.500%, 5/20/20		32,689
	41,325	Pool # 3637, 4.500%, 8/20/20		44,549
	35,469	Pool # 683937, 6.000%, 2/15/23		38,887
	140,315	Pool # 666057, 5.000%, 3/15/23		151,297
	202,667	Pool # 4978, 4.500%, 12/20/25		217,435
	461,315	Pool # 3751, 4.500%, 10/20/33		489,690
	9,113	Pool # 3751, 6.500%, 6/20/34		10,322
	131,632	Pool # 605653, 5.500%, 8/15/34		145,659
	7,683	Pool # 3637, 5.500%, 11/20/34		8,501
	183,181	Pool # 3637, 4.500%, 3/20/35		194,334
	29,418	Pool # 3637, 5.000%, 5/20/35		32,128
	33,551	Pool # 650348, 5.500%, 11/15/35		37,074
	150,837	Pool # 676974, 5.500%, 5/15/38		166,157
	233,037	Pool # 733602, 5.000%, 4/15/40		253,767
	397,523	Pool # 4978, 4.500%, 3/20/41		419,242

				2,253,288

		Total U.S. Government Mortgage Backed Agencies (Cost $12,993,948)		13,257,336

		U.S. Government Agencies — 14.0%
		Federal Farm Credit Bank — 6.2%
	500,000	1.500%, 11/16/15		495,120
	250,000	2.125%, 6/18/12		254,336
	500,000	2.580%, 6/8/18		496,850

				1,246,306

		Federal Home Loan Bank — 3.9%
	500,000	3.125%, 12/8/17		512,616
	250,000	4.125%, 12/13/19		266,974

				779,590

		Federal National Mortgage Association — 2.5%
	500,000	1.125%, 9/17/13		505,920


Shares or Principal Amount			Value

		Government National Mortgage Association — 1.4%
	$200,000	5.000%, 5/20/32	$	210,683
	68,677	5.500%, 4/20/36		69,225

				279,908

		Total U.S. Government Agencies (Cost $2,768,717)		2,811,724

		Common Stocks — 10.2%
		Real Estate Investment Trusts — 10.2%
	1,553	Acadia Realty Trust		31,572
	1,200	Alexandria Real Estate Equities, Inc.		92,904
	2,500	American Campus Communities, Inc.		88,800
	500	Associated Estates Realty Corp.		8,125
	500	BioMed Realty Trust, Inc.		9,620
	700	Boston Properties, Inc.		74,312
	1,000	Cogdell Spencer, Inc.		5,990
	500	Colonial Properties Trust		10,200
	1,700	Coresite Realty Corp.		27,880
	100	Developers Diversified Realty Corp.		1,410
	300	DiamondRock Hospitality Co.		3,219
	1,700	Digital Realty Trust, Inc.		105,026
	2,000	Douglas Emmett, Inc.		39,780
	4,000	Duke Realty Corp.		56,040
	700	DuPont Fabros Technology, Inc.		17,640
	1,300	EastGroup Properties, Inc.		55,263
	1,300	Equity Lifestyle Properties, Inc.		81,172
	1,100	Equity Residential		66,000
	700	Essex Property Trust, Inc.		94,703
	700	Excel Trust, Inc.		7,721
	300	Extra Space Storage, Inc.		6,399
	300	Federal Realty Investment Trust		25,554
	700	HCP, Inc.		25,683
	200	Health Care REIT, Inc.		10,486
	1,600	Home Properties, Inc.		97,408
	3,614	Host Hotels & Resorts, Inc.		61,257
	1,000	Kimco Realty Corp.		18,640
	1,500	Kite Realty Group Trust		7,470
	3,500	LaSalle Hotel Properties		92,190
	1,600	Mack-Cali Realty Corp.		52,704
	400	National Retail Properties, Inc.		9,804
	1,000	Nationwide Health Properties, Inc.		41,410
	1,400	Pennsylvania Real Estate Investment Trust		21,980
	100	Post Properties, Inc.		4,076
	946	ProLogis, Inc.		33,905
	700	Public Storage, Inc.		79,807
	400	Regency Centers Corp.		17,588
	1,000	Simon Property Group, Inc.		116,230
	600	SL Green Realty Corp.		49,722
	200	Sovran Self Storage, Inc.		8,200


		26

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

Huntington VA Mortgage Securities Fund

Portfolio of Investments Summary Table (continued)

June 30, 2011


Shares or Principal Amount			Value

		Common Stocks — (continued)
		Real Estate Investment Trusts — (continued)
	1,800	Tanger Factory Outlet Centers, Inc.	$	48,186
	1,713	The Macerich Co.		91,646
	816	UDR, Inc.		20,033
	1,500	Ventas, Inc.		79,065
	716	Vornado Realty Trust		66,717
	2,800	Weingarten Realty Investors		70,448
	200	Westfield Group		1,857
	200	Westfield Retail Trust		581

				2,036,423

		Total Common Stocks (Cost $1,670,888)		2,036,423

		Collateralized Mortgage Obligations — 5.1%
		Federal Home Loan Bank — 1.3%
	$94,545	Series 00-0606, 5.270%, 12/28/12		99,082
	30,362	Series 6B-2012, 5.125%, 4/25/12		31,254
	76,432	Series 7I-2012, 5.000%, 6/15/12		79,053
	32,259	Series SK-2015, 5.140%, 8/18/15		34,649
	21,100	Series Z2-2013, 4.800%, 2/25/13		22,036

				266,074

		Federal Home Loan Mortgage Corporation — 3.4%
	194,116	Series 2541, 5.500%, 11/15/20		198,314
	51,659	Series 2542, 5.500%, 2/15/22		53,041
	48,233	Series 2672, 5.500%, 8/15/31		50,671
	40,422	Series 2770, 4.000%, 1/15/18		41,776
	200,000	Series 2784, 4.000%, 4/15/19		210,948
	37,350	Series R005, 5.500%, 12/15/18		38,629


Shares or Principal Amount			Value

		Federal Home Loan Mortgage Corporation — (continued)
	$76,797	Series R010, 5.500%, 12/15/19	$	80,581

				673,960

		Federal National Mortgage Association — 0.2%
	36,604	Series 1999-13, 6.000%, 4/25/29		40,800

		Residential Whole Loans — 0.2%
	46,954	Citigroup Mortgage Securities, Inc., 5.500%, 10/25/35		46,655

		Total Collateralized Mortgage Obligations (Cost $988,697)		1,027,489

		Cash Equivalents — 4.1%
	814,203	Huntington Money Market Fund, Interfund Shares, 0.010% (b) (c)		814,203

		Total Cash Equivalents (Cost $814,203)		814,203

		Total Investments (Cost $19,236,453) — 99.6%		19,947,175

		Other Assets in Excess of Liabilities — 0.4%		89,263

		Net Assets — 100.0%	$	20,036,438

(a)	Variable or Floating Rate Security. Rate disclosed is as of June 30, 2011.

(b)	Investment in affiliate.

(c)	Rate disclosed is the seven day yield as of June 30, 2011.

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, 2011


	Huntington VA Balanced Fund			Huntington VA Dividend Capture Fund			Huntington VA Growth Fund			Huntington VA Income Equity Fund
Assets:
Investments, at cost	$	32,430,978		$	31,663,532		$	16,759,075		$	20,281,873

Investments, at value		—			33,555,047			18,653,051			21,984,206
Investments in affiliated securities, at value		35,599,177			693,643			532,613			311,188

Total investments		35,599,177			34,248,690			19,185,664			22,295,394
Cash		—			7,573			—			—
Income receivable		23,436			75,943			21,377			55,215
Receivable for investments sold		71,994			339,657			—			70,155
Receivable for shares sold		3,602			5,501			6,198			1,346
Receivable from Advisor		13,102			—			—			—
Prepaid expenses and other assets		687			742			620			655

Total assets		35,711,998			34,678,106			19,213,859			22,422,765
Liabilities:
Options written, at value (premium received $-, $-, $- and $15,480)		—			—			—			5,975
Payable for investments purchased		320,178			130,270			—			29,892
Payable for shares redeemed		2,080			18,845			24,844			21,213
Accrued expenses and other payables
Investment advisor fees		—			16,825			9,184			10,861
Administration fees		5,117			5,112			2,792			3,299
Custodian fees		100			405			230			270
Financial administration fees		1,385			827			1,413			943
Transfer agent fees		653			656			481			657
Trustees’ fees		69			100			98			65
Compliance service fees		61			145			57			89
Other		3,352			11,274			3,005			5,711

Total Liabilities		332,995			184,459			42,104			78,975

Net Assets	$	35,379,003		$	34,493,647		$	19,171,755		$	22,343,790

Net Assets consist of:
Paid in capital	$	31,861,347		$	41,667,707		$	19,108,947		$	24,376,230
Net unrealized appreciation of investments, options and translations of assets and liabilities in foreign currency		3,168,199			2,585,158			2,426,589			2,023,026
Accumulated net realized loss on investments, options and foreign currency transactions		(157,971	)		(11,594,648	)		(2,420,434	)		(5,063,779	)
Accumulated net investment income		507,428			1,835,430			56,653			1,008,313

Total Net Assets	$	35,379,003		$	34,493,647		$	19,171,755		$	22,343,790

Shares Outstanding		2,562,481			3,300,075			2,378,328			2,353,644

Net Asset Value, Redemption Price and Offering Price Per Share:
(Net asset value, offering and redemption price per share)	$	13.81		$	10.45		$	8.06		$	9.49

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


		28

Huntington Funds

Statements of Assets and Liabilities (Unaudited)

June 30, 2011


	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	$	22,186,912		$	5,973,573		$	12,279,887	$	12,323,640

Investments, at value		24,018,272			6,321,345			19,121,700		11,695,335
Investments in affiliated securities, at value		1,833,846			592,003			927,735		633,742

Total investments		25,852,118			6,913,348			20,049,435		12,329,077
Foreign currencies, at value (Cost $13,739, $-, $- and $-)		13,817			—			—		—
Cash		—			—			—		866
Income receivable		73,115			5,345			20,619		4,083
Receivable for investments sold		5,346			—			—		—
Receivable for shares sold		45,822			—			—		7,842
Tax reclaims receivable		13,905			—			—		—
Prepaid expenses and other assets		649			2,583			639		589

Total assets		26,004,772			6,921,276			20,070,693		12,342,457
Liabilities:
Options written, at value (premium received $-, $-, $- and $30,568)		—			—			—		39,400
Payable for investments purchased		—			—			—		184,763
Payable for shares redeemed		42,684			2,813			14,053		5,846
Accrued expenses and other payables
Investment advisor fees		12,417			3,338			9,653		5,892
Administration fees		3,801			1,014			2,934		1,791
Custodian fees		—			54			242		187
Financial administration fees		1,787			973			817		2,094
Transfer agent fees		404			524			477		730
Trustees’ fees		56			19			64		45
Compliance service fees		13			24			72		45
Other		7,905			1,959			4,423		1,561

Total Liabilities		69,067			10,718			32,735		242,354

Net Assets	$	25,935,705		$	6,910,558		$	20,037,958	$	12,100,103

Net Assets consist of:
Paid in capital	$	24,330,232		$	8,571,947		$	11,744,821	$	14,076,211
Net unrealized appreciation (depreciation) of investments, options and translations of assets and liabilities in foreign currency		3,665,561			939,775			7,769,548		(3,395	)
Accumulated net realized gain (loss) on investments, options and foreign currency transactions		(2,595,755	)		(2,653,722	)		403,651		(1,941,037	)
Accumulated net investment income (loss)		535,667			52,558			119,938		(31,676	)

Total Net Assets	$	25,935,705		$	6,910,558		$	20,037,958	$	12,100,103

Shares Outstanding		1,722,542			739,174			1,058,410		949,706

Net Asset Value, Redemption Price and Offering Price Per Share:
(Net asset value, offering and redemption price per share)	$	15.06		$	9.35		$	18.93	$	12.74

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 Assets and Liabilities (Unaudited)

June 30, 2011


	Huntington VA Real Strategies Fund		Huntington VA Rotating Markets Fund			Huntington VA Situs Fund			Huntington VA Mortgage Securities Fund
Assets:
Investments, at cost	$	3,322,299	$	5,845,303		$	24,789,208		$	19,236,453

Investments, at value		3,724,384		7,038,890			27,621,906			19,132,972
Investments in affiliated securities, at value		142,687		22,422			3,627,169			814,203

Total investments		3,867,071		7,061,312			31,249,075			19,947,175
Income receivable		3,303		7,104			15,752			59,639
Receivable for investments sold		37,870		—			—			—
Receivable for shares sold		2,242		—			22,947			50,631
Tax reclaims receivable		—		—			1,711			—
Prepaid expenses and other assets		4,780		553			647			619

Total assets		3,915,266		7,068,969			31,290,132			20,058,064
Liabilities:
Options written, at value (premium received $40,983, $-, $- and $-)		33,312		—			—			—
Payable for investments purchased		178,760		—			—			5,247
Payable for shares redeemed		—		6,229			24,498			—
Accrued expenses and other payables
Investment advisor fees		1,691		3,408			14,653			9,806
Administration fees		513		1,036			4,443			2,979
Custodian fees		—		77			100			85
Financial administration fees		977		942			1,393			—
Transfer agent fees		534		524			789			452
Trustees’ fees		10		20			64			47
Compliance service fees		9		27			107			56
Other		837		102			4,244			2,954

Total Liabilities		216,643		12,365			50,291			21,626

Net Assets	$	3,698,623	$	7,056,604		$	31,239,841		$	20,036,438

Net Assets consist of:
Paid in capital	$	3,130,451	$	6,723,625		$	26,421,251		$	18,938,995
Net unrealized appreciation of investments, options and translations of assets and liabilities in foreign currency		552,443		1,216,009			6,459,967			710,722
Accumulated net realized gain (loss) on investments, options and foreign currency transactions		14,625		(951,183	)		(1,692,676	)		(261,662	)
Accumulated net investment income		1,104		68,153			51,299			648,383

Total Net Assets	$	3,698,623	$	7,056,604		$	31,239,841		$	20,036,438

Shares Outstanding		385,030		589,809			1,917,255			1,698,037

Net Asset Value, Redemption Price and Offering Price Per Share:
(Net asset value, offering and redemption price per share)	$	9.61	$	11.96		$	16.29		$	11.80

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


		30

Huntington Funds

Statements of Operations (Unaudited)

Six Months Ended June 30, 2011


	Huntington VA Balanced Fund			Huntington VA Dividend Capture Fund			Huntington VA Growth Fund			Huntington VA Income Equity Fund
Investment Income:
Dividend income	$	—		$	852,175		$	126,251		$	555,776
Dividend income from affiliated securities		167,082			37			21			15
Foreign dividend taxes withheld		—			(11,609	)		(2,481	)		(18,484	)

Total investment income		167,082			840,603			123,791			537,307

Expenses:
Investment advisor fees		15,325			103,281			56,220			67,032
Administration fees		27,922			31,363			17,072			20,355
Custodian fees		1,520			4,351			2,387			2,850
Transfer and dividend disbursing agent fees and expenses		5,026			5,279			4,330			4,683
Trustees’ fees		1,255			1,505			804			977
Professional fees		3,467			4,168			2,282			2,701
Financial administration fees		1,835			2,850			2,626			2,759
Printing and postage		5,938			12,069			5,925			7,643
Insurance premiums		1,334			1,494			1,256			1,323
Compliance service fees		556			774			405			497
Other		6,282			586			1,245			1,811

Total expenses		70,460			167,720			94,552			112,631

Investment advisory fees waived		(15,325	)		—			—			—
Reimbursements from Advisor		(39,787	)		—			—			—

Net expenses		15,348			167,720			94,552			112,631

Net investment income		151,734			672,883			29,239			424,676

Net Realized/Unrealized Gain (Loss) on Investments, Options and Foreign Currency Transactions:
Net realized gain (loss) on investment transactions		—			2,079,085			81,560			1,356,514
Net realized loss on investment transactions of affiliates		(77,609	)		—			—			—
Net realized loss on option transactions		—			—			—			(13,285	)

Net realized gain (loss) on investments, options and foreign currency transactions		(77,609	)		2,079,085			81,560			1,343,229

Net change in unrealized appreciation/depreciation of investments, options and translation of assets and liabilities in foreign currency		1,117,375			(351,259	)		519,968			255,209

Net realized and unrealized gain on investments, options and foreign currency transactions		1,039,766			1,727,826			601,528			1,598,438

Change in net assets resulting from operations	$	1,191,500		$	2,400,709		$	630,767		$	2,023,114

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, 2011


	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	$	439,865		$	58,233	$	147,411		$	35,324
Dividend income from affiliated securities		78			27		38			44
Foreign dividend taxes withheld		(41,520	)		—		(493	)		(188	)

Total investment income		398,423			58,260		146,956			35,180

Expenses:
Investment advisor fees		72,910			20,380		61,240			37,928
Administration fees		22,140			6,189		18,597			11,517
Custodian fees		6,316			834		2,598			1,678
Transfer and dividend disbursing agent fees and expenses		4,491			3,776		4,419			4,284
Trustees’ fees		1,027			295		904			564
Professional fees		2,839			816		2,503			1,562
Financial administration fees		3,480			3,423		4,414			4,004
Printing and postage		7,704			2,578		7,021			4,529
Insurance premiums		1,305			1,114		1,292			1,196
Compliance service fees		430			147		456			283
Other		893			1,279		938			1,341

Total expenses		123,535			40,831		104,382			68,886

Net investment income (loss)		274,888			17,429		42,574			(33,706	)

Net Realized/Unrealized Gain (Loss) on Investments, Options and Foreign Currency Transactions:
Net realized gain on investment transactions		278,552			53,446		1,481,997			2,298,764
Net realized loss on option transactions		—			—		—			(667,817	)
Net realized loss on foreign currency transactions		(4,270	)		—		—			—

Net realized gain on investments, options and foreign currency transactions		274,282			53,446		1,481,997			1,630,947

Net change in unrealized appreciation/depreciation of investments, options and translation of assets and liabilities in foreign currency		432,744			174,603		(64,300	)		(1,494,129	)

Net realized and unrealized gain on investments, options and foreign currency transactions		707,026			228,049		1,417,697			136,818

Change in net assets resulting from operations	$	981,914		$	245,478	$	1,460,271		$	103,112


		32

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

Huntington Funds

Statements of Operations (Unaudited)

Six Months Ended June 30, 2011


	Huntington VA Real Strategies Fund			Huntington VA Rotating Markets Fund		Huntington VA Situs Fund			Huntington VA Mortgage Securities Fund
Investment Income:
Dividend income	$	34,741		$	88,300	$	142,336		$	32,483
Dividend income from affiliated securities		21			5		147			45
Interest income		—			—		—			331,147
Foreign dividend taxes withheld		(993	)		—		(838	)		—

Total investment income		33,769			88,305		141,645			363,675

Expenses:
Investment advisor fees		9,810			21,379		83,141			55,916
Administration fees		2,979			6,492		25,247			16,980
Custodian fees		377			898		4,550			2,197
Transfer and dividend disbursing agent fees and expenses		3,611			3,801		5,018			4,269
Trustees’ fees		138			313		1,134			786
Professional fees		385			866		3,129			2,178
Financial administration fees		3,200			2,079		4,232			13,015
Printing and postage		1,131			3,076		6,689			4,847
Insurance premiums		1,056			1,123		1,304			1,246
Compliance service fees		63			158		550			374
Other		2,274			1,437		931			145

Total expenses		25,024			41,622		135,925			101,953

Net investment income		8,745			46,683		5,720			261,722

Net Realized/Unrealized Gain (Loss) on Investments, Options and Foreign Currency Transactions:
Net realized gain (loss) on investment transactions		50,111			33,329		558,317			(35,817	)
Net realized loss on foreign currency transactions		—			—		(160	)		(2	)
Net realized gain on option transactions		31,986			—		—			—

Net realized gain (loss) on investments, options and foreign currency transactions		82,097			33,329		558,157			(35,819	)

Net change in unrealized appreciation of investments, options and translation of assets and liabilities in foreign currency		5,151			454,340		1,640,903			284,254

Net realized and unrealized gain on investments, options and foreign currency transactions		87,248			487,669		2,199,060			248,435

Change in net assets resulting from operations	$	95,993		$	534,352	$	2,204,780		$	510,157

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 Balanced Fund						Huntington VA Dividend Capture Fund						Huntington VA Growth Fund
	Six Months Ended Jun. 30, 2011			Year Ended Dec. 31, 2010			Six Months Ended Jun. 30, 2011			Year Ended Dec. 31, 2010			Six Months Ended Jun. 30, 2011			Year Ended Dec. 31, 2010
	*(Unaudited)*						*(Unaudited)*						*(Unaudited)*
Increase (Decrease) in Net Assets
Operations:
Net investment income	$	151,734		$	355,695		$	672,883		$	1,162,549		$	29,239		$	30,868
Net realized gain (loss) on investments, options and foreign currency transactions		(77,609	)		(69,309	)		2,079,085			1,715,342			81,560			1,722,708
Net change in unrealized appreciation/depreciation of investments, options and foreign currency transactions		1,117,375			1,728,944			(351,259	)		1,632,830			519,968			(107,683	)

Change in net assets resulting from operations		1,191,500			2,015,330			2,400,709			4,510,721			630,767			1,645,893

Distributions to Shareholders:
From net investment income		—			(21,245	)		—			(1,386,649	)		—			(24,485	)

Change in net assets resulting from distributions to shareholders		—			(21,245	)		—			(1,386,649	)		—			(24,485	)

Change in net assets resulting from capital transactions		7,318,781			18,064,670			(1,532,000	)		(3,056,040	)		29,538			1,617,597

Change in net assets		8,510,281			20,058,755			868,709			68,032			660,305			3,239,005
Net Assets
Beginning of period		26,868,722			6,809,967			33,624,938			33,556,906			18,511,450			15,272,445

End of period	$	35,379,003		$	26,868,722		$	34,493,647		$	33,624,938		$	19,171,755		$	18,511,450

Accumulated net investment income included in net assets at end of period	$	507,428		$	355,694		$	1,835,430		$	1,162,547		$	56,653		$	27,414

Capital Transactions:
Shares sold		7,578,912			18,536,992			2,379,549			4,703,605			2,091,272			5,361,327
Dividends reinvested		—			21,245			—			1,386,649			—			24,485
Shares redeemed		(260,131	)		(493,567	)		(3,911,549	)		(9,146,294	)		(2,061,734	)		(3,768,215	)

Net change resulting from capital transactions	$	7,318,781		$	18,064,670		$	(1,532,000	)	$	(3,056,040	)	$	29,538		$	1,617,597

Share Transactions:
Shares sold		555,776			1,498,102			231,514			506,151			263,434			757,448
Dividends reinvested		—			1,762			—			159,202			—			3,671
Shares redeemed		(19,111	)		(40,514	)		(381,074	)		(997,616	)		(259,029	)		(531,551	)

Net change resulting from share transactions		536,665			1,459,350			(149,560	)		(332,263	)		4,405			229,568

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


		34

Huntington Funds

Statements of Changes in Net Assets


	Huntington VA Income Equity Fund						Huntington VA International Equity Fund						Huntington VA Macro 100 Fund
	Six Months Ended Jun. 30, 2011			Year Ended Dec. 31, 2010			Six Months Ended Jun. 30, 2011			Year Ended Dec. 31, 2010			Six Months Ended Jun. 30, 2011			Year Ended Dec. 31, 2010
	*(Unaudited)*						*(Unaudited)*						*(Unaudited)*
Increase (Decrease) in Net Assets
Operations:
Net investment income	$	424,676		$	583,639		$	274,888		$	268,698		$	17,429		$	35,130
Net realized gain (loss) on investments, options and foreign currency transactions		1,343,229			1,837,422			274,282			(511,005	)		53,446			(350,721	)
Net change in unrealized appreciation/depreciation of investments, options and foreign currency transactions		255,209			(102,496	)		432,744			2,170,204			174,603			1,107,007

Change in net assets resulting from operations		2,023,114			2,318,565			981,914			1,927,897			245,478			791,416

Distributions to Shareholders:
From net investment income		—			(573,537	)		—			(244,844	)		—			(50,145	)

Change in net assets resulting from distributions to shareholders		—			(573,537	)		—			(244,844	)		—			(50,145	)

Change in net assets resulting from capital transactions		(1,477,639	)		(650,515	)		2,305,860			4,602,948			50,161			283,938

Change in net assets		545,475			1,094,513			3,287,774			6,286,001			295,639			1,025,209
Net Assets
Beginning of period		21,798,315			20,703,802			22,647,931			16,361,930			6,614,919			5,589,710

End of period	$	22,343,790		$	21,798,315		$	25,935,705		$	22,647,931		$	6,910,558		$	6,614,919

Accumulated net investment income included in net assets at end of period	$	1,008,313		$	583,637		$	535,667		$	260,779		$	52,558		$	35,129

Capital Transactions:
Shares sold		1,323,314			3,737,093			4,508,180			7,266,270			607,111			1,850,890
Dividends reinvested		—			573,537			—			244,844			—			50,145
Shares redeemed		(2,800,953	)		(4,961,145	)		(2,202,320	)		(2,908,166	)		(556,950	)		(1,617,097	)

Net change resulting from capital transactions	$	(1,477,639	)	$	(650,515	)	$	2,305,860		$	4,602,948		$	50,161		$	283,938

Share Transactions:
Shares sold		143,738			461,041			304,641			551,823			65,233			224,779
Dividends reinvested		—			75,865			—			19,955			—			6,615
Shares redeemed		(303,148	)		(613,994	)		(148,786	)		(223,923	)		(60,241	)		(198,356	)

Net change resulting from share transactions		(159,410	)		(77,088	)		155,855			347,855			4,992			33,038

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						Huntington VA Real Strategies Fund
	Six Months Ended Jun. 30, 2011			Year Ended Dec. 31, 2010			Six Months Ended Jun. 30, 2011			Year Ended Dec. 31, 2010			Six Months Ended Jun. 30, 2011			Year Ended Dec. 31, 2010
	*(Unaudited)*						*(Unaudited)*						*(Unaudited)*
Increase (Decrease) in Net Assets
Operations:
Net investment income (loss)	$	42,574		$	77,365		$	(33,706	)	$	(38,889	)	$	8,745		$	(5,698	)
Net realized gain on investments, options and foreign currency transactions		1,481,997			745,882			1,630,947			413,935			82,097			1,636
Net change in unrealized appreciation/depreciation of investments, options and foreign currency transactions		(64,300	)		3,100,180			(1,494,129	)		1,364,782			5,151			500,970

Change in net assets resulting from operations		1,460,271			3,923,427			103,112			1,739,828			95,993			496,908

Distributions to Shareholders—
From net investment income		—			(123,644	)		—			(11,498	)		—			(5,230	)

Change in net assets resulting from distributions to shareholders		—			(123,644	)		—			(11,498	)		—			(5,230	)

Change in net assets resulting from capital transactions		(1,738,393	)		(2,157,198	)		(673,881	)		(501,627	)		582,300			1,362,555

Change in net assets		(278,122	)		1,642,585			(570,769	)		1,226,703			678,293			1,854,233
Net Assets
Beginning of period		20,316,080			18,673,495			12,670,872			11,444,169			3,020,330			1,166,097

End of period	$	20,037,958		$	20,316,080		$	12,100,103		$	12,670,872		$	3,698,623		$	3,020,330

Accumulated net investment income (loss) included in net assets at end of period	$	119,938		$	77,364		$	(31,676	)	$	2,030		$	1,104		$	(7,641	)

Capital Transactions:
Shares sold		788,561			2,489,155			765,920			2,019,346			758,250			1,650,462
Dividends reinvested		—			123,644			—			11,498			—			5,230
Shares redeemed		(2,526,954	)		(4,769,997	)		(1,439,801	)		(2,532,471	)		(175,950	)		(293,137	)

Net change resulting from capital transactions	$	(1,738,393	)	$	(2,157,198	)	$	(673,881	)	$	(501,627	)	$	582,300		$	1,362,555

Share Transactions:
Shares sold		42,726			160,510			59,004			176,292			79,155			207,292
Dividends reinvested		—			8,677			—			1,071			—			700
Shares redeemed		(136,156	)		(308,173	)		(110,999	)		(223,297	)		(18,380	)		(36,433	)

Net change resulting from share transactions		(93,430	)		(138,986	)		(51,995	)		(45,934	)		60,775			171,559

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


		36

Huntington Funds

Statements of Changes in Net Assets


	Huntington VA Rotating Markets Fund						Huntington VA Situs Fund						Huntington VA Mortgage Securities Fund
	Six Months Ended Jun. 30, 2011			Year Ended Dec. 31, 2010			Six Months Ended Jun. 30, 2011			Year Ended Dec. 31, 2010			Six Months Ended Jun. 30, 2011			Year Ended Dec. 31, 2010
	*(Unaudited)*						*(Unaudited)*						*(Unaudited)*
Increase (Decrease) in Net Assets
Operations:
Net investment income	$	46,683		$	21,470		$	5,720		$	25,611		$	261,722		$	340,707
Net realized gain (loss) on investments, options and foreign currency transactions		33,329			389,123			558,157			(169,213	)		(35,819	)		13,516
Net change in unrealized appreciation of investments, options and foreign currency transactions		454,340			44,781			1,640,903			5,483,759			284,254			240,809

Change in net assets resulting from operations		534,352			455,374			2,204,780			5,340,157			510,157			595,032

Distributions to Shareholders—
From net investment income		—			(73,676	)		—			(83,106	)		—			(316,096	)

Change in net assets resulting from distributions to shareholders		—			(73,676	)		—			(83,106	)		—			(316,096	)

Change in net assets resulting from capital transactions		(435,098	)		102,979			5,352,272			1,390,750			2,178,539			6,111,058

Change in net assets		99,254			484,677			7,557,052			6,647,801			2,688,696			6,389,994
Net Assets
Beginning of period		6,957,350			6,472,673			23,682,789			17,034,988			17,347,742			10,957,748

End of period	$	7,056,604		$	6,957,350		$	31,239,841		$	23,682,789		$	20,036,438		$	17,347,742

Accumulated net investment income included in net assets at end of period	$	68,153		$	21,470		$	51,299		$	45,579		$	648,383		$	386,661

Capital Transactions:
Shares sold		319,319			1,562,561			8,194,148			5,288,342			3,886,965			8,644,318
Dividends reinvested		—			73,676			—			83,106			—			316,096
Shares redeemed		(754,417	)		(1,533,258	)		(2,841,876	)		(3,980,698	)		(1,708,426	)		(2,849,356	)

Net change resulting from capital transactions	$	(435,098	)	$	102,979		$	5,352,272		$	1,390,750		$	2,178,539		$	6,111,058

Share Transactions:
Shares sold		27,173			148,441			516,280			415,761			334,760			751,755
Dividends reinvested		—			7,691			—			7,329			—			27,606
Shares redeemed		(63,915	)		(147,556	)		(179,107	)		(308,866	)		(146,599	)		(247,608	)

Net change resulting from share transactions		(36,742	)		8,576			337,173			114,224			188,161			531,753

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

Financial Highlights


	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 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	$	12.02		0.16			1.09			1.25			(0.01	)		—			—			(0.01	)
2011⁽⁷⁾	$	13.26		0.02			0.53			0.55			—			—			—			—
Huntington VA Dividend Capture Fund
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	$	8.87		0.38			0.91			1.29			(0.41	)		—			—			(0.41	)
2011⁽⁷⁾	$	9.75		0.22			0.48			0.70			—			—			—			—

(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 shares method.

(7)	Six months ended June 30, 2011 (Unaudited).

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


		38


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, 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	%
	$	13.26		10.43	%		0.10	%⁽⁵⁾		2.08	%		0.45	%⁽⁵⁾		$	26,869		17	%
	$	13.81		4.15	%⁽³⁾		0.10	%⁽⁴⁾⁽⁵⁾		0.99	%⁽⁴⁾		0.46	%⁽⁴⁾⁽⁵⁾		$	35,379		7	%⁽³⁾

	$	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	%
	$	9.75		15.12	%		0.98	%		3.54	%		0.98	%		$	33,625		120	%
	$	10.45		7.18	%⁽³⁾		0.97	%⁽⁴⁾		3.91	%⁽⁴⁾		0.97	%⁽⁴⁾		$	34,494		77	%⁽³⁾

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.


		39

Huntington Funds

Financial Highlights


	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 VA Growth Fund
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	$	7.12		0.01		0.68			0.69			(0.01	)		—			—			(0.01	)
2011⁽⁴⁾	$	7.80		0.01		0.25			0.26			—			—			—			—
Huntington VA Income Equity Fund
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	$	7.99		0.24		0.67			0.91			(0.23	)		—			—			(0.23	)
2011⁽⁴⁾	$	8.67		0.20		0.62			0.82			—			—			—			—

(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)

(4)	Six months ended June 30, 2011 (Unaudited).

(5)	Not Annualized.

(6)	Computed on an annualized basis.

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 (Loss) to Average Net Assets			Ratio of Expenses (Prior to Reimbursements) to Average Net Assets⁽¹⁾			Net Assets, End of period (000 Omitted)			Portfolio Turnover Rate

	$	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	%
	$	7.80		9.72	%		1.02	%		0.19	%		1.02	%		$	18,511		331	%
	$	8.06		3.20	%⁽⁵⁾		1.01	%⁽⁶⁾		0.31	%⁽⁶⁾		1.01	%⁽⁶⁾		$	19,172		78	%⁽⁵⁾

	$	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	%
	$	8.67		11.79	%		1.00	%		2.81	%		1.00	%		$	21,798		107	%
	$	9.49		9.46	%⁽⁵⁾		1.01	%⁽⁶⁾		3.80	%⁽⁶⁾		1.01	%⁽⁶⁾		$	22,344		84	%⁽⁵⁾

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


		41

Huntington Funds

Financial Highlights


	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 VA International Equity Fund
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	$	13.42		0.14		1.06			1.20			(0.16	)		—			—			(0.16	)
2011⁽³⁾	$	14.46		0.14		0.46			0.60			—			—			—			—
Huntington VA Macro 100 Fund
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	$	7.97		0.05		1.06			1.11			(0.07	)		—			—			(0.07	)
2011⁽³⁾	$	9.01		0.02		0.32			0.34			—			—			—			—

(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, 2011 (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 macro-economic fundamentals (Unaudited).

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, End of Period (000 Omitted)			Portfolio Turnover Rate


		$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	%
		$14.46		9.18	%		1.10	%		1.42	%		1.10	%		$	22,648		35	%
		$15.06		4.15	%⁽⁴⁾		1.02	%⁽⁵⁾		2.26	%⁽⁵⁾		1.02	%⁽⁵⁾		$	25,936		21	%⁽⁴⁾

	$	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	%
	$	9.01		14.12	%		1.16	%		0.60	%		1.20	%		$	6,615		29	%
	$	9.35		3.77	%⁽⁴⁾		1.20	%⁽⁵⁾		0.51	%⁽⁵⁾		1.20	%⁽⁵⁾		$	6,911		7	%⁽⁴⁾

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


		43

Huntington Funds

Financial Highlights


	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 VA Mid Corp Equity Fund
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	$	14.47		0.08			3.19			3.27			(0.10	)		—			—			(0.10	)
2011⁽²⁾	$	17.64		0.05			1.24			1.29			—			—			—			—
Huntington VA New Economy Fund
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	$	10.92		(0.04	)		1.78			1.74			(0.01	)		—			—			(0.01	)
2011⁽²⁾	$	12.65		(0.04	)		0.13			0.09			—			—			—		��	—

(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, 2011 (Unaudited).

(3)	Not Annualized.

(4)	Computed on an annualized basis.

(5)

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 (Loss) to Average Net Assets			Ratio of Expenses (Prior to Reimbursements) to Average Net Assets⁽¹⁾			Net Assets, End of Period (000 Omitted)			Portfolio Turnover Rate

		$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	%
		$17.64		22.80	%		1.02	%		0.41	%		1.02	%		$	20,316		21	%
		$18.93		7.31	%⁽³⁾		1.02	%⁽⁴⁾		0.42	%⁽⁴⁾		1.02	%⁽⁴⁾		$	20,038		8	%⁽³⁾

	$	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	%
	$	12.65		15.97	%		1.06	%		(0.33	)%		1.06	%		$	12,671		256	%
	$	12.74		0.71	%⁽³⁾		1.09	%⁽⁴⁾		(0.53	)%⁽⁴⁾		1.09	%⁽⁴⁾		$	12,100		163	%⁽³⁾

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


		45

Huntington Funds

Financial Highlights


	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 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	$	7.64		(0.03	)		1.72			1.69			(0.02	)		—			—			(0.02	)
2011⁽⁶⁾	$	9.31		0.03			0.27			0.30			—			—			—			—
Huntington VA Rotating Markets Fund
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	$	10.47		0.03			0.72			0.75			(0.12	)		—			—			(0.12	)
2011⁽⁶⁾	$	11.10		0.08			0.78			0.86			—			—			—			—

(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 shares method.

(6)	Six months ended June 30, 2011 (Unaudited).

(7)	Does not include the effect of expenses of underlying funds.

(8)

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, 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	%
	$	9.31		22.15	%		1.68	%		(0.28	)%		1.68	%		$	3,020		23	%
	$	9.61		3.22	%⁽³⁾		1.53	%⁽⁴⁾		0.53	%⁽⁴⁾		1.53	%⁽⁴⁾		$	3,699		32	%⁽³⁾

	$	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	%
	$	11.10		7.34	%		1.14	%⁽⁷⁾		0.33	%		1.14	%⁽⁷⁾		$	6,957		254	%
		$11.96		7.75	%⁽³⁾		1.17	%⁽⁴⁾		1.31	%⁽⁴⁾		1.17	%⁽⁴⁾		$	7,057		—	%⁽³⁾

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


		47

Huntington Funds

Financial Highlights


	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 VA Situs Fund
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	$	11.62		0.01			3.41			3.42			(0.05	)		—			(0.05	)
2011⁽³⁾	$	14.99		—	⁽²⁾		1.30			1.30			—			—			—
Huntington VA Mortgage Securities Fund
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	$	11.20		0.16			0.39			0.55			(0.26	)		—			(0.26	)
2011⁽³⁾	$	11.49		0.13			0.18			0.31			—			—			—

(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, 2011 (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.


		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, End of Period (000 Omitted)			Portfolio Turnover Rate

	$	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	%
	$	14.99		29.61	%		1.02	%		0.13	%		1.02	%		$	23,683		19	%
	$	16.29		8.67	%⁽⁴⁾		0.98	%⁽⁵⁾		0.04	%⁽⁵⁾		0.98	%⁽⁵⁾		$	31,240		10	%⁽⁴⁾

		$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	%
		$11.49		4.89	%		1.11	%		2.44	%		1.11	%		$	17,348		3	%
	$	11.80		2.70	%⁽⁴⁾		1.09	%⁽⁵⁾		2.81	%⁽⁵⁾		1.09	%⁽⁵⁾		$	20,036		9	%⁽⁴⁾

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


		49

Huntington Funds

Notes to Financial Statements (Unaudited)

June 30, 2011

(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, 2011, the Trust operated 37 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, Lincoln Insurance Company, Nationwide 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

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 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.


		50

Huntington Funds

Notes to Financial Statements (continued)

June 30, 2011

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.

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.

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.

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.



• 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).

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


		51

Huntington Funds

Notes to Financial Statements (continued)

June 30, 2011

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


	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	$	34,647,861	$	—		$	—		$	—	$	34,647,861	$	—
Cash Equivalents		951,316		—			—			—		951,316		—

Total		35,599,177		—			—			—		35,599,177		—
VA Dividend Capture Fund
Common Stocks		24,449,531		—			—			—		24,449,531		—
Preferred Stocks		8,118,281		—			405,135	⁽¹⁾		—		8,523,416		—
Exchange-Traded Funds		582,100		—			—			—		582,100		—
Cash Equivalents		693,643		—			—			—		693,643		—

Total		33,843,555		—			405,135			—		34,248,690		—
VA Growth Fund
Common Stocks		18,653,051		—			—			—		18,653,051		—
Cash Equivalents		532,613		—			—			—		532,613		—

Total		19,185,664		—			—			—		19,185,664		—
VA Income Equity Fund
Common Stocks		21,984,206		—			—			—		21,984,206		—
Cash Equivalents		311,188		—			—			—		311,188		—
Written Options		—		(5,975	)		—			—		—		(5,975	)

Total		22,295,394		(5,975	)		—			—		22,295,394		(5,975	)
VA International Equity Fund
Common Stocks		23,005,850		—			—			—		23,005,850		—
Exchange-Traded Funds		815,708		—			—			—		815,708		—
Closed-End Fund		196,714		—			—			—		196,714		—
Cash Equivalents		1,833,846		—			—			—		1,833,846		—

Total		25,852,118		—			—			—		25,852,118		—
VA Macro 100 Fund
Common Stocks		6,319,658		—			—			—		6,319,658		—
Rights		1,687		—			—			—		1,687		—
Cash Equivalents		592,003		—			—			—		592,003		—

Total		6,913,348		—			—			—		6,913,348		—
VA Mid Corp America Fund
Common Stocks		19,121,700		—			—			—		19,121,700		—
Cash Equivalents		927,735		—			—			—		927,735		—

Total		20,049,435		—			—			—		20,049,435		—
VA New Economy Fund
Common Stocks		11,629,185		—			—			—		11,629,185		—
Options Purchased		66,150		—			—			—		66,150		—
Cash Equivalents		633,742		—			—			—		633,742		—
Written Options		—		(39,400	)		—			—		—		(39,400	)

Total		12,329,077		(39,400	)		—			—		12,329,077		(39,400	)


		52

Huntington Funds

Notes to Financial Statements (continued)

June 30, 2011


	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 Real Strategies Fund
Common Stocks	$	3,331,503	$	—		$	—	$	—	$	3,331,503	$	—
Corporate Bonds		—		—			62,300		—		62,300		—
Exchange-Traded Funds		237,138		—			—		—		237,138		—
Closed-End Fund		71,295		—			—		—		71,295		—
Options Purchased		22,148		—			—		—		22,148		—
Cash Equivalents		142,687		—			—		—		142,687		—
Written Options		—		(33,312	)		—		—		—		(33,312	)

Total		3,804,771		(33,312	)		62,300		—		3,867,071		(33,312	)
VA Rotating Markets Fund
Common Stocks		6,690,804		—			—		—		6,690,804		—
Exchange-Traded Funds		348,086		—			—		—		348,086		—
Cash Equivalents		22,422		—			—		—		22,422		—

Total		7,061,312		—			—		—		7,061,312		—
VA Situs Fund
Common Stocks		27,471,581		—			—		—		27,471,581		—
Exchange-Traded Funds		150,325		—			—		—		150,325		—
Cash Equivalents		3,627,169		—			—		—		3,627,169		—

Total		31,249,075		—			—		—		31,249,075		—
VA Mortgage Securities Fund
U.S. Government Mortgage Backed Agencies		—		—			13,257,336		—		13,257,336		—
U.S. Government Agencies		—		—			2,910,806		—		2,910,806		��
Common Stocks		2,036,423		—			—		—		2,036,423		—
Collateralized Mortgage Obligations		—		—			928,407		—		928,407		—
Cash Equivalents		814,203		—			—		—		814,203		—

Total		2,850,626		—			17,096,549		—		19,947,175		—

*Other

Financial Instruments are derivatives instruments not reflected on the Portfolio of Investments, such as written option contracts.

⁽¹⁾

Consists of Allianz SE, 8.375%, listed under Financials.

Following is a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value:


	Balance as of December 31, 2010		Change in unrealized appreciation (depreciation)			Transfer in Level 3 (a)(b)		Transfer out of Level 3 (a)(c)			Balance as of June 30, 2011
VA Situs Fund
Common Stocks	$	—	$	(2,407	)	$	29,247	$	(26,840	)	$	—

(a)

The amount of transfers in and/or out are reflected at the securities' fair value on the date of the transfer.

(b)

(c)

B.	Repurchase Agreements

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


		53

Huntington Funds

Notes to Financial Statements (continued)

June 30, 2011

C.	When-Issued and Delayed Transactions

D.	Foreign Currency Translation

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 foreign 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, 2011, VA International Equity Fund, VA Real Strategies Fund and VA Situs 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 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 Income Equity Fund’s written option activity for the six months ended June 30, 2011:


Contracts	Number of Contracts			Premium
Outstanding at 12/31/2010		—		$	—
Options written		630			35,920
Options expired		(280	)		(14,660	)
Options closed		(115	)		(2,530	)
Options exercised		(50	)		(3,250	)

Outstanding at 06/30/2011		185		$	15,480


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Notes to Financial Statements (continued)

June 30, 2011

WRITTEN OPTION CONTRACTS


Contract	Type		Expiration Date		Exercise Price		Number of Contracts		Fair Value		Unrealized Appreciation (Depreciation)
Kimberly-Clark Corp.		Call		July 2011	$	67.50		35	$	1,050	$	1,190
Repsol YPF SA		Call		July 2011		35		80		4,400		5,760
Waste Management, Inc.		Call		July 2011		40		70		525		2,555
NET UNREALIZED APPRECIATION ON WRITTEN OPTION CONTRACTS											$	9,505

The following is a summary of VA New Economy Fund’s written option activity for the six months ended June 30, 2011:


Contracts	Number of Contracts			Premium
Outstanding at 12/31/2010		185		$	115,244
Options written		3,395			1,631,130
Options expired		(83	)		(18,835	)
Options closed		(3,364	)		(1,659,192	)
Options exercised		(76	)		(37,779	)

Outstanding at 06/30/2011		57		$	30,568

At June 30, 2011, 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)
Celgene Corp.		Call		July 2011	$	55		34	$	18,700	$	(1,633	)
Perrigo Co.		Call		August 2011		80		23		20,700		(7,199	)
NET UNREALIZED DEPRECIATION ON WRITTEN OPTION CONTRACTS											$	(8,832	)

The following is a summary of VA Real Strategies Fund’s written option activity for the six months ended June 30, 2011:


Contracts	Number of Contracts			Premium
Outstanding at 12/31/2010		95		$	22,750
Options written		378			79,635
Options expired		(202	)		(32,677	)
Options closed		(132	)		(17,778	)
Options exercised		(60	)		(10,947	)

Outstanding at 06/30/2011		79		$	40,983

At June 30, 2011, 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)
Barrick Gold Corp.		Put		July 2011	$	46		10	$	1,250	$	150
Diamond Offshore		Put		January 2012		74.50		8		6,600		(152	)
Fluor Corp.		Put		July 2011		65		10		1,500		3,320
SPDR Gold Trust		Put		January 2012		125		10		1,130		6,290
Marathon Oil Corp.		Put		July 2011		50		6		282		533
Southern Copper Corp.		Put		July 2011		35		20		4,400		3,740
iPath S&P 500 VIX		Put		January 2012		60		15		18,150		(6,210	)
NET UNREALIZED APPRECIATION ON WRITTEN OPTION CONTRACTS											$	7,671

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


		55

Huntington Funds

Notes to Financial Statements (continued)

June 30, 2011

The following is a summary of VA Situs Fund’s written option activity for the six months ended June 30, 2011:


Contracts	Number of Contracts			Premium
Outstanding at 12/31/2010		—		$	—
Options written		50			15,350
Options exercised		(50	)		(15,350	)

Outstanding at 06/30/2011		—		$	—

The fair value of Derivative Instruments as of June 30, 2011 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		Options Written, at value	VA Income Equity Fund	$	5,975
			VA New Economy Fund		39,400
			VA Real Strategies Fund		33,312
	Investments, at value		VA New Economy Fund		66,150
			VA Real Strategies Fund		22,148

The effect of Derivative Instruments on the Statements of Operations for the six months ended June 30, 2011 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		Gross Notional Amount Outstanding as of June 30, 2011
Option Contracts	Net Realized gain (loss) on option transactions/net change in unrealized appreciation/depreciation of investments and options	VA Income Equity Fund VA New Economy Fund VA Real Strategies Fund	$	(13,285 (667,817 31,986	) )	$	9,505 2,760 637	$	796,250 2,351,000 783,800

The gross notional amount of options outstanding (both purchased and written) is indicative of the volume of each Fund’s derivative activity for the six-month period ended June 30, 2011.

Derivative positions during the period and at 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 borrower’s 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 receives 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


		56

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Notes to Financial Statements (continued)

June 30, 2011

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 borrowing with respect to securities loans.

As of June 30, 2011, the Funds did not have securities on loan.

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.

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 the Funds have been provided for in accordance with each applicable country’s tax rules and rates.


Fund	Tax Cost of Securities		Unrealized Appreciation		Unrealized Depreciation			Net Unrealized Appreciation/ (Depreciation) *
VA Balanced Fund	$	32,596,749	$	3,196,825	$	(194,397	)	$	3,002,428
VA Dividend Capture Fund		31,659,095		2,906,390		(316,795	)		2,589,595
VA Growth Fund		16,914,352		2,659,365		(388,053	)		2,271,312
VA Income Equity Fund		20,434,258		2,261,984		(400,848	)		1,861,136
VA International Equity Fund		22,329,226		4,597,165		(1,074,273	)		3,522,892
VA Macro 100 Fund		5,983,733		1,270,277		(340,662	)		929,615
VA Mid Corp America Fund		12,275,616		7,977,111		(203,292	)		7,773,819
VA New Economy Fund		12,323,640		741,854		(736,417	)		5,437

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


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June 30, 2011


Fund	Tax Cost of Securities		Unrealized Appreciation		Unrealized Depreciation			Net Unrealized Appreciation/ (Depreciation) *
VA Real Strategies Fund		3,286,206		634,359		(53,494	)		580,865
VA Rotating Markets Fund		5,845,303		1,258,923		(42,914	)		1,216,009
VA Situs Fund		24,884,200		8,192,089		(1,827,214	)		6,364,875
VA Mortgage Securities Fund		19,229,915		808,484		(91,224	)		717,260

As of December 31, 2010, 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
VA Dividend Capture Fund	$	3,223,609		2016
VA Dividend Capture Fund		10,379,593		2017
VA Growth Fund		268,401		2016
VA Growth Fund		2,008,824		2017
VA Income Equity Fund		1,255,286		2016
VA Income Equity Fund		4,884,104		2017
VA International Equity Fund		226,000		2016
VA International Equity Fund		1,984,700		2017
VA International Equity Fund		563,899		2018
VA Macro 100 Fund		1,759,976		2016
VA Macro 100 Fund	$	436,650		2017
VA Macro 100 Fund	$	494,288		2018
VA Mid Corp America Fund	$	1,074,905		2017
VA New Economy Fund	$	3,531,313		2017
VA Real Strategies Fund	$	15,905		2016
VA Real Strategies Fund	$	46,457		2017
VA Rotating Markets Fund	$	984,512		2017
VA Situs Fund	$	157,155		2016
VA Situs Fund	$	1,862,604		2017
VA Situs Fund	$	92,594		2018
VA Mortgage Securities Fund	$	100,360		2016
VA Mortgage Securities Fund	$	90,146		2017
VA Mortgage Securities Fund	$	19,982		2018

During the year ended December 31, 2010, VA Balanced Fund, VA Dividend Capture Fund, VA Growth Fund, VA Income Equity Fund, VA Mid Corp America Fund, VA New Economy Fund, VA Real Strategies Fund and VA Rotating Markets Fund utilized $9,565, $877,704, $1,890,401, $1,518,929, $711,912, $270,399, $8,022 and $389,123 respectively, in capital loss carryforwards.

The tax character of distributions paid during the fiscal year ended December 31, 2010, was as follows:


	Distributions Paid From^*
Fund	Ordinary Income		Net Long Term Capital Gains		Total Taxable Distributions		Tax Return of Capital		Total Distributions Paid
VA Balanced Fund	$	21,245	$	—	$	21,245	$	—	$	21,245
VA Dividend Capture Fund		1,386,649		—		1,386,649		—		1,386,649
VA Growth Fund		24,485		—		24,485		—		24,485
VA Income Equity Fund		573,537		—		573,537		—		573,537
VA International Equity Fund		244,844		—		244,844		—		244,844
VA Macro 100 Fund		50,145		—		50,145		—		50,145
VA Mid Corp America Fund		123,644		—		123,644		—		123,644
VA New Economy Fund		11,498		—		11,498		—		11,498
VA Real Strategies Fund		5,230		—		5,230		—		5,230
VA Rotating Markets Fund		73,676		—		73,676		—		73,676


		58

Huntington Funds

Notes to Financial Statements (continued)

June 30, 2011


	Distributions Paid From^*
Fund	Ordinary Income		Net Long Term Capital Gains		Total Taxable Distributions		Tax Return of Capital		Total Distributions Paid
VA Situs Fund		83,106		—		83,106		—		83,106
VA Mortgage Securities Fund		316,096		—		316,096		—		316,096

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.

As of December 31, 2010, the components of accumulated earnings (deficit) on a tax basis were as follows:


Fund	Undistributed Ordinary Income		Undistributed Long-Term Capital Gains		Accumulated Earnings		Accumulated Capital and Other Losses			Unrealized Appreciation (Depreciation)*		Total Accumulated Earnings (Deficit)
VA Balanced Fund	$	355,694	$	1,631	$	357,325	$	—		$	1,968,831	$	2,326,156
VA Dividend Capture Fund		1,160,345		—		1,160,345		(13,603,202	)		2,868,089		(9,574,768	)
VA Growth Fund		27,473		—		27,473		(2,277,286	)		1,681,853		(567,960	)
VA Income Equity Fund		583,638		—		583,638		(6,139,391	)		1,500,200		(4,055,553	)
VA International Equity Fund		323,696		—		323,696		(2,776,853	)		3,076,714		623,557
VA Macro 100 Fund		35,121		—		35,121		(2,696,514	)		754,525		(1,906,868	)
VA Mid Corp America Fund		77,366		—		77,366		(1,074,907	)		7,830,407		6,832,866
VA New Economy Fund		—		—		—		(3,569,167	)		1,489,948		(2,079,219	)
VA Real Strategies Fund		7,538		—		7,538		(67,554	)		532,196		472,180
VA Rotating Markets Fund		21,470		—		21,470		(984,512	)		761,669		(201,373	)
VA Situs Fund		10,156		—		10,156		(2,153,643	)		4,757,297		2,613,810
VA Mortgage Securities Fund		388,141		—		388,141		(224,457	)		423,602		587,286

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

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, 2010, the Fund deferred post-October capital losses and post-October currency losses as follows:


Fund	Capital Losses		Currency Losses
VA Growth Fund	$	—	$	60
VA Income Equity Fund		—		1
VA International Equity Fund		—		2,253
VA Macro 100 Fund		5,601		—
VA Real Strategies Fund		1,694		—
VA Situs Fund		41,289		—
VA Mortgage Securities Fund		13,969		—

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.

financial statement notes for the fiscal year ending December 31, 2011.

K.	New Accounting Pronouncement

In May 2011, the FASB issued ASU No. 2011-04 “Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements.” ASU No. 2011-04 amends FASB ASC Topic 820, Fair Value Measurements and Disclosures, to establish common requirements for measuring fair value and for disclosing information about fair value measurements in accordance with GAAP and International Financial Reporting Standards (“IFRS”). ASU No. 2011-04 is effective for fiscal years beginning after December 15, 2011 and for interim periods within those fiscal years. Management is currently evaluating the implications of ASU 2011-04 and its impact on the financial statements.

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


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June 30, 2011

(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 and/or to reimburse certain operating expenses of 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, 2012. 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 Huntington Asset Services, Inc. (“HASI”), an affiliate of Huntington, is the Sub-Administrator. As Administrator, Huntington provides the Funds with certain administrative services. As Sub-Administrator, HASI 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 HASI. HASI is paid directly by Huntington, not the Funds, for these services. The fees paid for administrative and sub-administrative services are based on the level of average net assets of each Fund for the period, subject to minimum fees in certain circumstances.


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—HASI is the transfer and dividend disbursing agent for the Funds. For its services, HASI receives a yearly fixed amount per shareholder account, subject to a yearly minimum of $6,000 for each of the Funds. HASI 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. Brown Brothers Harriman serves as sub-custodian for VA International Equity Fund’s, VA Real Strategies Fund’s and VA Situs Fund’s foreign assets. Huntington and Brown Brothers Harriman receive fees based on the level of a 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 $131,250 annually.

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


Fund	12/31/10 Market Value		Purchases		Sales			06/30/11 Market Value		Income
VA Dividend Capture Fund	$	160,142	$	6,508,892	$	(5,975,391	)	$	693,643	$	37
VA Growth Fund		922,241		7,647,117		(8,036,745	)		532,613		21
VA Income Equity Fund		687,915		2,311,721		(2,688,448	)		311,188		15
VA International Equity Fund		840,153		4,918,421		(3,924,728	)		1,833,846		78
VA Macro 100 Fund		539,053		657,100		(604,150	)		592,003		27
VA Mid Corp America Fund		910,222		2,633,606		(2,616,093	)		927,735		38
VA New Economy Fund		465,599		9,370,986		(9,202,843	)		633,742		44
VA Real Strategies Fund		231,852		1,123,189		(1,212,354	)		142,687		21
VA Rotating Markets Fund		198,325		321,858		(497,761	)		22,422		5
VA Situs Fund		243,370		7,227,677		(3,843,878	)		3,627,169		147
VA Mortgage Securities Fund		670,903		5,564,961		(5,421,661	)		814,203		45


		60

Huntington Funds

Notes to Financial Statements (continued)

June 30, 2011

Additionally, 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	12/31/10 Market Value		Purchases		Sales			06/30/11 Market Value		Income
Huntington Money Market Fund	$	545,928	$	5,418,477	$	(5,013,089	)	$	951,316	$	35
Huntington Fixed Income Securities Fund		8,466,869		3,428,017		(917,511	)		11,059,824		167,047
VA Dividend Capture Fund		1,068,169		292,898		(28,485	)		1,414,354		—
VA Growth Fund		4,809,200		1,774,356		(360,643	)		6,391,827		—
VA Income Equity Fund		3,205,326		879,641		(124,344	)		4,263,709		—
VA International Equity Fund		2,687,250		1,000,345		(268,326	)		3,561,088		—
VA Macro 100 Fund		1,330,993		418,409		(23,415	)		1,774,934		—
VA Mid Corp America Fund		1,062,960		337,014		(67,106	)		1,419,054		—
VA New Economy Fund		1,200,180		482,780		(98,662	)		1,590,749		—
VA Situs Fund		666,228		219,936		(60,312	)		887,142		—
VA Mortgage Securities Fund		1,744,317		612,833		(134,641	)		2,285,180		—

(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 six month period ended June 30, 2011 were as follows:


Fund	Purchases		Sales
VA Balanced Fund	$	9,446,229	$	2,083,445
VA Dividend Capture Fund		26,156,848		27,854,035
VA Growth Fund		14,662,113		14,382,842
VA Income Equity Fund		18,782,453		19,493,513
VA International Equity Fund		6,479,101		4,788,079
VA Macro 100 Fund		447,028		422,239
VA Mid Corp America Fund		1,691,490		3,396,936
VA New Economy Fund		19,910,125		21,312,470
VA Real Strategies Fund		1,829,196		973,898
VA Rotating Markets Fund		—		198,589
VA Situs Fund		4,465,393		2,519,835
VA Mortgage Securities Fund		5,270,813		2,965,170

Purchases and sales of long-term U.S. government securities for the six month period ended June 30, 2011 were as follows:


Fund	Purchases		Sales
VA Mortgage Securities Fund	$	5,066,793	$	2,886,489

(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 sever 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.

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


		61

Huntington Funds

Supplemental Information (Unaudited)

Shareholder Expense Examples

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, 2011 to June 30, 2011.

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, 2011		Ending Account Value, June 30, 2011		Expenses Paid During Period⁽¹⁾		Annualized Expense Ratio
VA Balanced Fund
Actual	$	1,000.00	$	1,041.50	$	0.51		0.10	%
Hypothetical⁽²⁾	$	1,000.00	$	1,024.30	$	0.50		0.10	%
VA Dividend Capture Fund
Actual	$	1,000.00	$	1,071.80	$	5.01		0.97	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.96	$	4.88		0.97	%
VA Growth Fund
Actual	$	1,000.00	$	1,032.00	$	5.08		1.01	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.79	$	5.05		1.01	%
VA Income Equity Fund
Actual	$	1,000.00	$	1,094.60	$	5.24		1.01	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.80	$	5.05		1.01	%
VA International Equity Fund
Actual	$	1,000.00	$	1,041.50	$	5.15		1.02	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.75	$	5.09		1.02	%
VA Macro 100 Fund
Actual	$	1,000.00	$	1,037.70	$	6.07		1.20	%
Hypothetical⁽²⁾	$	1,000.00	$	1,018.83	$	6.02		1.20	%
VA Mid Corp America Fund
Actual	$	1,000.00	$	1,073.10	$	5.26		1.02	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.72	$	5.12		1.02	%
VA New Economy Fund
Actual	$	1,000.00	$	1,007.10	$	5.42		1.09	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.39	$	5.46		1.09	%
VA Real Strategies Fund
Actual	$	1,000.00	$	1,032.20	$	7.71		1.53	%
Hypothetical⁽²⁾	$	1,000.00	$	1,017.20	$	7.66		1.53	%


		62

Huntington Funds


	Beginning Account Value, January 1, 2011		Ending Account Value, June 30, 2011		Expenses Paid During Period⁽¹⁾		Annualized Expense Ratio
VA Rotating Markets Fund
Actual	$	1,000.00	$	1,077.50	$	6.02		1.17	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.00	$	5.85		1.17	%
VA Situs Fund
Actual	$	1,000.00	$	1,086.70	$	5.07		0.98	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.93	$	4.91		0.98	%
VA Mortgage Securities Fund
Actual	$	1,000.00	$	1,027.00	$	5.50		1.09	%
Hypothetical⁽²⁾	$	1,000.00	$	1,019.37	$	5.48		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 by the Funds’ Adviser for the period beginning Janaury 1, 2011 through June 30, 2011. 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.

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


		63

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) The 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 8/31/11

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 8/31/11



By (Signature and Title)*		/s/ Robert Silva
		Robert Silva, Treasurer and Principal Financial Officer

Date 8/31/11

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