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

                                   FORM N-CSR

                   CERTIFIED SHAREHOLDER REPORT OF REGISTERED
                         MANAGEMENT INVESTMENT COMPANIES

                    Investment Company Act file number  811-05010

                              THE HUNTINGTON FUNDS
               (Exact name of registrant as specified in charter)

                              5800 Corporate Drive
                       Pittsburgh, Pennsylvania 15237-7010
               (Address of principal executive offices) (Zip code)

                              Ronald J. Corn, Esq.
                          The Huntington National Bank
                              41 South High Street
                              Columbus, Ohio 43287

                    (Name and address of agent for service)

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, 2007


ITEM 1. REPORTS TO STOCKHOLDERS.

[Logo of Huntington Funds]

Semi-Annual Shareholder Report

Money Market Funds

Huntington Florida Tax-Free Money Fund
Huntington Money Market Fund
Huntington Ohio Municipal Money Market Fund
Huntington U.S. Treasury Money Market Fund

Equity Funds

Huntington Dividend Capture Fund
Huntington Growth Fund
Huntington Income Equity Fund
Huntington International Equity Fund
Huntington Macro 100 Fund
Huntington Mid Corp America Fund
Huntington New Economy Fund
Huntington Real Strategies Fund
Huntington Rotating Markets Fund
Huntington Situs Small Cap Fund

Income Funds

Huntington Fixed Income Securities Fund
Huntington Intermediate Government Income Fund
Huntington Michigan Tax-Free Fund
Huntington Mortgage Securities Fund
Huntington Ohio Tax-Free Fund
Huntington Short/Intermediate Fixed Income Securities Fund

JUNE 30, 2007

TRUST SHARES
INVESTMENT A SHARES
INVESTMENT B SHARES
INTERFUND SHARES

Huntington Florida Tax-Free Money Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage of* *Net Assets*
Demand Notes	71.2%
General Market Notes	26.4%
Cash	3.7%
Liabilities in Excess of Other Assets	(1.3)%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on 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* -- *97.6%*
*Florida* -- *82.7%*
$	700,000	Alachua County, FL, Health Facilities Authority Revenue (LOC-Suntrust Bank), 3.890%, 12/1/12(a)	$	700,000
	1,000,000	Brevard County, FL, Health Facilities Authority Revenue (LOC-Suntrust Bank), 3.890%, 8/1/14(a)		1,000,000
	300,000	Broward County, FL, Educational Facilities Authority Revenue (LOC-Bank of America), 3.890%, 4/1/24(a)		300,000
	1,100,000	Broward County, FL, Educational Facilities Authority Revenue (LOC-Citibank), 3.730%, 11/1/31(a)		1,100,000
	500,000	Broward County, FL, Housing Finance Authority Multi-Family Revenue (Freddie Mac Ins), 3.730%, 12/1/29(a)		500,000
	330,000	Broward County, FL, School Board, Certificate Participation (FSA Ins), 3.730%, 7/1/21(a)		330,000
	500,000	Charlotte County, FL, Utility Revenue, Series B (FSA Ins), 3.730%, 10/1/21(a)		500,000
	905,000	Collier County, FL, Educational Facilities Revenue (LOC-Fifth Third Bank), 3.770%, 4/1/28(a)		905,000
	700,000	Collier County, FL, Health Facilities Authority Revenue (LOC-J.P. Morgan Chase Bank), 3.860%, 1/1/35(a)		700,000
	900,000	Collier County, FL, Health Facility Authority Revenue (LOC-Wachovia Bank N.A.), 3.750%, 12/1/24(a)		900,000
	1,000,000	Dade County, FL, Water & Sewer Systems Revenue (FGIC Ins), 3.730%, 10/5/22(a)		1,000,000
	450,000	Duval County, FL, Housing Finance Authority Revenue (LOC-U.S. Bank N.A.), 3.740%, 7/1/25(a)		450,000
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Florida* -- *(Continued)*
$	480,000	Florida State Board of Education G.O., 4.000%, 7/1/07	$	480,000
	415,000	Florida State Department of Environmental Protection Preservation Revenue (AMBAC Ins), 3.680%, 7/1/25(a)		415,000
	800,000	Florida State Department of Environmental Protection Preservation Revenue (AMBAC Ins), 3.730%, 7/1/25(a)		800,000
	375,000	Fort Lauderdale, FL, Crest Prep School Project Revenue (FSA Ins), 3.730%, 6/1/32(a)		375,000
	750,000	Gulf Coast University, FL, Capital Improvements Revenue (LOC-Wachovia Bank N.A.), 3.680%, 12/1/33(a)		750,000
	800,000	Highlands County, FL, Health Facilities Authority Revenue (MBIA Ins), 3.730%, 12/1/26(a)		800,000
	200,000	Hillsboro Court, FL, G.O., 5.000%, 11/1/12		202,961
	600,000	Jacksonville, FL, Capital Projection Revenue (FGIC Ins), 3.750%, 10/1/34(a)		600,000
	400,000	Jacksonville, FL, Health Facilities Authority Revenue (LOC-Suntrust Bank), 3.890%, 10/1/15(a)		400,000
	600,000	Jacksonville, FL, Health Facilities Authority Revenue, Genesis Rehabilitation Hospital (LOC-Bank Of America), 3.880%, 5/1/21(a)		600,000
	150,000	Leon County, FL, Certificate Participation, 4.000%, 7/1/07		150,000
	690,000	Leon County, FL, School District, G.O., 4.500%, 7/1/07		690,000
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Florida* -- *(Continued)*
	120,000	Nassau County, FL, Public Improvements Refunding Revenue (MBIA Ins), 4.000%, 5/1/08	$	120,240
	1,285,000	Orange County, FL, Educational Facilities Authority Revenue (LOC-Bank Of America), 3.890%, 5/1/31(a)		1,285,000
	700,000	Orlando & Orange County Authority, FL, Expressway Revenue (FSA Ins), 3.730%, 7/1/25(a)		700,000
	600,000	Orlando & Orange County, FL, Expressway Authority Revenue (AMBAC Ins), 3.730%, 7/1/40(a)		600,000
	500,000	Palm Beach County, FL, Housing Finance Authority Revenue (LOC-Wachovia Bank N.A.), 3.750%, 11/1/07(a)		500,000
	1,000,000	Palm Beach County, FL, Revenue, 5.000%, 8/1/07		1,001,107
	200,000	Palm Beach County, FL, Revenue (LOC-Northern Trust Co.), 3.750%, 5/1/25(a)		200,000
	1,050,000	Palm Beach County, FL, Revenue (LOC-Northern Trust Co.), 3.750%, 3/1/30(a)		1,050,000
	700,000	Palm Beach County, FL, Revenue (LOC-Northern Trust Co.), 3.760%, 11/1/36(a)		700,000
	600,000	Palm Beach County, FL, School Board Certificate Participation, Series B (FSA Ins), 3.730%, 8/1/27(a)		600,000
	500,000	Palm Beach County, FL, Solid Waste Authority Refunding Revenue, Series A (AMBAC Ins), 6.000%, 10/1/07		503,040
	700,000	Pinellas County, FL, Health Facilities Authority Revenue (AMBAC Ins), 3.860%, 12/1/15(a)		700,000
	500,000	Pinellas County, FL, Health Facilities Authority Revenue (FSA Ins), 3.730%, 11/15/33(a)		500,000
	1,200,000	Pinellas County, FL, Health Facilities Authority Revenue (LOC-Suntrust Bank), 3.890%, 7/1/34(a)		1,200,000
	500,000	Sarasota County, FL, Health Facilities Authority Revenue (LOC-Bank of America), 3.750%, 7/1/35(a)		500,000
	500,000	Seminole County, FL, School Board Certificate Participation, Series B (FSA Ins), 4.000%, 7/1/07		500,000
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Florida* -- *(Continued)*
$	700,000	University of North Florida, Foundation, Inc., Revenue (LOC-Wachovia Bank N.A.), 3.730%, 5/1/28(a)	$	700,000
	1,100,000	Volusia County, FL, Housing Finance Authority Refunding Revenue (Fannie Mae Ins), 3.730%, 1/15/32(a)		1,100,000

				27,107,348

*Illinois* -- *0.8%*
	250,000	Chicago, IL, Water Utility Improvements Revenue (FGIC Ins), 5.250%, 11/1/23		256,227

*Michigan* -- *0.2%*
	80,000	Michigan State Grant Anticipation Notes Revenue, Series C (FSA Ins), 3.750%, 9/15/09(a)		80,000

*Ohio* -- *1.8%*
	500,000	Ashland, OH, Public Improvements, G.O. (Various Purposes), 4.250%, 5/22/08		502,275
	100,000	Hamilton County, OH, Hospital Facilities Revenue (LOC-JP Morgan Chase Bank), 3.740%, 5/15/28(a)		100,000

				602,275

*Texas* -- *3.1%*
	1,000,000	Texas State Public Finance Authority Refunding, G.O., Series A, 5.250%, 10/1/07		1,004,257

*Virginia* -- *2.8%*
	925,000	Chesterfield County, VA, Public Improvements, G.O., Series A, 4.750%, 1/1/13		930,443

*Washington* -- *3.1%*
	1,000,000	King County, WA, Refunding, G.O., 5.250%, 12/1/07		1,007,070

*Wisconsin* -- *3.1%*
	1,000,000	Rock County, WI, Public Improvements, G.O., Promissory Notes, 4.250%, 7/10/08		1,004,330

*Total Municipal Bonds* *(Cost $31,991,950)*				*31,991,950*

*Shares*				*Value*
*Cash Equivalents* -- *3.7%*
	1,198,620	Fidelity Institutional Tax-Exempt Fund, 3.570%(b)	$	1,198,620

*Total Cash Equivalents* *(Cost $1,198,620)*				*1,198,620*

*Total Investments* *(Cost $33,190,570)* -- *101.3%*				*33,190,570*

*Liabilities in* Excess of Other Assets -- *(1.3)%*				*(412,542)*

*Net Assets* -- *100.0%*			$	*32,778,028*

(a) Variable or Floating Rate Security. Rate disclosed is as of
June 30, 2007.

(b) Rate disclosed is the seven day yield as of June 30, 2007.

AMBAC -- American Municipal Bond Assurance Corp.
FGIC -- Financial Guaranty Insurance Company
FSA -- Financial Security Assurance
G.O. -- General Obligation
Ins -- Insured
LOC -- Letter of Credit
MBIA -- Municipal Bond Insurance Association

Huntington Money Market Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
U.S Government Agencies	75.9%
Commercial Paper	19.4%
Repurchase Agreements	4.5%
Cash	0.5%
Liabilities in Excess of Other Assets	(0.3)%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

Portfolio of Investments (unaudited)

*Principal* *Amount*				*Value*
*U.S. Government Agencies* -- *75.9%*
*Federal Agricultural Mortgage Corporation* -- *23.1%*
$	15,000,000	5.130%, 7/5/07(a)	$	14,991,450
	15,000,000	5.130%, 7/5/07(a)		14,991,458
	25,000,000	5.110%, 7/10/07(a)		24,968,050
	15,000,000	5.120%, 7/12/07(a)		14,976,533
	14,850,000	5.140%, 7/12/07(a)		14,826,677
	15,000,000	5.100%, 7/13/07(a)		14,974,500
	11,200,000	5.110%, 7/19/07(a)		11,171,384
	15,000,000	5.110%, 7/23/07(a)		14,953,158
	10,000,000	5.140%, 7/23/07(a)		9,968,619
	10,000,000	5.120%, 7/30/07(a)		9,958,796
	11,050,000	5.120%, 8/1/07(a)		11,001,282
	15,000,000	5.130%, 8/3/07(a)		14,929,462
	15,000,000	5.120%, 8/6/07(a)		14,923,200
	15,000,000	5.120%, 8/21/07(a)		14,891,200
	8,657,000	5.140%, 8/31/07(a)		8,581,602
	15,000,000	5.130%, 9/27/07(a)		14,811,900

				224,919,271

*Federal Home Loan Bank* -- *19.5%*
	10,000,000	5.130%, 7/11/07(a)		9,985,764
	15,000,000	4.625%, 7/18/07(a)		14,995,128
	15,000,000	5.120%, 7/20/07(a)		14,959,506
	30,000,000	5.100% - 5.140%, 7/25/07(a)		29,897,600
	20,000,000	5.150%, 7/27/07(a)		19,925,611
	15,000,000	5.110%, 8/3/07(a)		14,929,737
	15,000,000	5.110%, 8/8/07(a)		14,919,092
	34,898,000	5.140%, 8/20/07(a)		34,648,950
	20,000,000	5.140%, 8/24/07(a)		19,845,800
	15,000,000	5.030%, 3/14/08(b)		15,000,000
				189,107,188
*Federal Home Loan Mortgage Corporation* -- *24.2%*
	10,000,000	5.130%, 7/5/07(a)		9,994,306
	9,300,000	5.130%, 7/9/07(a)		9,289,402
	20,000,000	5.120%, 7/16/07(a)		19,957,317
	15,000,000	5.130%, 7/17/07(a)		14,965,800
	15,000,000	5.120%, 7/24/07(a)		14,950,972
	25,000,000	5.140%, 7/30/07(a)		24,896,486
	20,000,000	5.120%, 7/31/07(a)		19,914,667
	15,000,000	5.140%, 8/6/07(a)		14,922,900
	15,000,000	5.130%, 8/13/07(a)		14,908,052
*Principal* *Amount*				*Value*
*U.S. Government Agencies* -- *(Continued)*
*Federal Home Loan Mortgage* *Corporation* -- *(Continued)*
$	15,000,000	5.150%, 8/17/07(a)	$	14,899,146
	16,600,000	4.500%, 8/22/07(a)		16,580,633
	15,000,000	5.140%, 8/27/07(a)		14,877,925
	12,000,000	5.150%, 8/31/07(a)		11,895,283
	15,000,000	5.150%, 9/10/07(a)		14,847,646
	20,000,000	5.140%, 9/17/07(a)		19,777,137

				236,677,672

*Federal National Mortgage Association* -- *9.1%*
	15,000,000	5.120%, 7/11/07(a)		14,978,667
	10,000,000	5.130%, 7/13/07(a)		9,982,900
	15,000,000	5.120%, 8/1/07(a)		14,933,867
	15,000,000	5.120%, 8/2/07(a)		14,931,733
	10,000,000	5.140%, 8/15/07(a)		9,935,812
	15,000,000	5.140%, 8/22/07(a)		14,888,742
	10,000,000	5.150%, 9/19/07(a)		9,885,556

				89,537,277

*Total U.S. Government Agencies* *(Cost $740,241,408)*				*740,241,408*

*Commercial Papers* -- *19.4%*
	25,000,000	AIG Funding, Inc., 5.200%, 8/17/07(a)		24,830,278
	25,000,000	Bank of America Corp, 5.250%, 7/3/07(a)		24,992,708
	25,000,000	General Electric Capital Corp., 5.230%, 9/14/07(a)		24,727,604
	15,000,000	International Bank for Reconstruction & Development, 4.930%, 7/2/07(a)		14,997,867
	25,000,000	Merrill Lynch & Co., Inc., 5.200%, 7/6/07(a)		24,981,944
	25,000,000	Morgan Stanely & Co., 5.200%, 8/27/07(a)		24,794,167
	25,000,000	Procter & Gamble Co., 5.230%, 9/20/07(a)		24,705,813
	25,000,000	Wal-Mart Stores, Inc., 5.210%, 8/21/07(a)		24,815,479

*Total Commercial Papers* *(Cost $188,845,860)*				*188,845,860*

*Shares or* *Principal* *Amount*				*Value*
*Cash Equivalents* -- *0.5%*
	5,000,000	The Flex-funds Money Market Fund (Institutional Class), 5.080%(c)	$	5,000,000

*Total Cash Equivalents* *(Cost $5,000,000)*				*5,000,000*

*Repurchase Agreements* -- *4.5%*
$	44,186,100	Morgan Stanley Dean Witter & Co., 5.230%, dated 6/29/07, due 7/2/07, repurchase price $44,205,358 (Fully collaterized by U.S. Treasury securities)		44,186,100

*Total Repurchase Agreements* *(Cost $44,186,100)*				*44,186,100*

*Total Investments* *(Cost $978,273,368)* -- *100.3%*				*978,273,368*

*Liabilities in* Excess of Other Assets -- *(0.3)%*				*(3,254,730)*

*Net Assets* -- *100.0%*			$	*975,018,638*

(a) Rate represents the effective yield at purchase.

(b) Variable or Floating Rate Security. Rate disclosed is as of
June 30, 2007.

(c) Rate disclosed is the seven day yield as of June 30, 2007.

Huntington Ohio Municipal Money Market Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
Demand Notes	74.2%
General Market Notes	21.2%
Commercial Paper	3.6%
Cash	0.1%
Other Assets in Excess of Liabilities	0.9%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

Portfolio of Investments (unaudited)

*Principal* *Amount*				*Value*
*Municipal Bonds* -- *95.4%*
*Ohio* -- *95.4%*
$	2,350,000	Ashland, OH, Improvement Notes Revenue, (Various Purposes), 4.500%, 7/11/07	$	2,350,412
	1,300,000	Ashland, OH, Public Improvements, G.O. (Various Purposes), 4.250%, 5/22/08		1,305,915
	960,000	Avon Lake, OH, Water Utility Notes, G.O., 4.750%, 7/24/07		960,524
	50,000	Bay Village, OH, City School District Refunding, G.O. (FSA Ins), 4.000%, 12/1/07		50,105
	2,000,000	Brunswick, OH, G.O., 4.500%, 5/8/08		2,013,642
	3,530,000	Butler County, OH, Capital Funding Revenue, Series A (LOC-U.S. Bank N.A.), 3.750%, 6/1/35(a)		3,530,000
	370,000	Canal Winchester, OH, Local School District Refunding, Series B, G.O., 4.500%, 11/27/07		371,253
	1,000,000	Cleveland, OH, Cuyahoga County Port Authority Revenue (LOC-Fifth Third Bank), 3.800%, 1/1/34(a)		1,000,000
	1,910,000	Cleveland, OH, Income Tax Revenue (AMBAC Ins), 3.630%, 5/15/24(a)		1,910,000
	550,000	Cleveland, OH, Waterworks Prerefunded Revenue, Series I (FSA Ins), 5.250%, 1/1/13		560,124
	690,000	Cleveland, OH, Waterworks Revenue (FGIC Ins), 3.710%, 1/1/33(a)		690,000
	7,575,000	Cleveland, OH, Waterworks Revenue, Series M (FSA Ins), 3.730%, 1/1/33(a)		7,575,000
	2,100,000	Clinton, OH, Sewer Improvements, G.O., BAN, 3.750%, 4/24/08		2,100,000
	5,800,000	Columbus, OH, Airport Authority Revenue (LOC-U.S. Bank N.A.), 3.750%, 7/1/35(a)		5,800,000
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Ohio* -- *(Continued)*
$	2,710,000	Columbus, OH, Regulation Airport Authority Revenue (LOC-U.S. Bank N.A.), 3.750%, 3/1/34(a)	$	2,710,000
	5,600,000	Columbus, OH, Sewer Improvements Refunding Revenue, 3.720%, 6/1/11(a)		5,600,000
	1,900,000	Cuyahoga County, OH, Hospital Improvements Revenue (LOC-JP Morgan Chase Bank), 3.900%, 1/1/16(a)		1,900,000
	350,000	Dover, OH, Sewer Systems, G.O., 4.250%, 10/18/07		350,553
	810,000	Forest Park, OH, G.O., BAN, 4.250%, 12/27/07		812,296
	2,990,000	Franklin County, OH, Hospital Facilities Revenue (AMBAC Ins), 3.720%, 5/1/41(a)		2,990,000
	2,755,000	Franklin County, OH, Hospital Revenue (LOC-Citibank), 3.730%, 12/1/20(a)		2,755,000
	3,790,000	Franklin County, OH, Hospital Revenue, (Children’s Hospital), Series A (FGIC Ins), 3.800%, 5/1/31(a)		3,790,000
	2,630,000	Franklin County, OH, Hospital Revenue, (Doctors Ohio Health), Series B (LOC-National City Bank), 3.730%, 12/1/28(a)		2,630,000
	6,490,000	Franklin County, OH, Hospital Revenue, U.S. Health Corp., Series A (LOC-Citibank), 3.730%, 12/1/21(a)		6,490,000
	1,465,000	Franklin County, OH, Industrial Development Revenue (LOC-Bank One Columbus N.A.), 3.930%, 11/1/14(a)		1,465,000
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Ohio* -- *(Continued)*
$	510,000	Franklin County, OH, Revenue, Series C-2 (FGIC Ins), 3.700%, 12/1/38(a)	$	510,000
	920,000	Geauga County, OH, Health Care Facilities Revenue, Heather Hill Inc. Project, Series B (LOC-Bank One Columbus N.A.), 3.730%, 7/1/23(a)		920,000
	475,000	Greene County, OH, Certificate Participation, G.O., Series D, 4.500%, 8/14/07		475,554
	500,000	Greene County, OH, G.O, 4.250%, 2/15/08		501,752
	1,000,000	Greene County, OH, G.O., 4.500%, 8/14/07		1,000,953
	2,000,000	Greene County, OH, G.O., Series E, BAN, 4.250%, 11/20/07		2,005,339
	2,300,000	Hamilton County, OH, Economic Development Revenue, Xavier High School Project (LOC-Fifth Third Bank), 3.730%, 4/1/28(a)		2,300,000
	3,360,000	Hamilton County, OH, Health Care Facilities Revenue, Hilltop Health Facilities (LOC-Bank of America), 3.740%, 6/1/22(a)		3,360,000
	6,005,000	Hamilton County, OH, Hospital Facilities Revenue (LOC-JP Morgan Chase Bank), 3.740%, 5/15/28(a)		6,005,000
	475,000	Hamilton County, OH, Hospital Facilities Revenue (LOC-U.S. Bank N.A.), 3.740%, 5/15/28(a)		475,000
	1,590,000	Hamilton County, OH, Hospital Facilities Revenue, Health Alliance, Series F (MBIA Ins), 3.680%, 1/1/18(a)		1,590,000
	1,300,000	Hamilton County, OH, Hospital Facilities Revenue, Drake Center Inc., Series A (LOC-U.S. Bank N.A.), 3.740%, 6/1/19(a)		1,300,000
	810,000	Hamilton County, OH, Hospital Facilities Revenue, Health Alliance, Series B (MBIA Ins), 3.680%, 1/1/18(a)		810,000
	8,600,000	Hamilton County, OH, Hospital Facilities Revenue, Series A (LOC-JP Morgan Chase Bank), 3.700%, 6/1/27(a)		8,600,000
	2,000,000	Hamilton County, OH, Hospital Facility Revenue (MBIA Ins), 3.660%, 1/1/18(a)		2,000,000
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Ohio* -- *(Continued)*
$	2,000,000	Hamilton County, OH, Industrial Development Revenue, 3.750%, 10/15/12(a)	$	2,000,000
	2,175,000	Hamilton County, OH, Parking Facility Improvements Revenue (LOC-U.S. Bank N.A.), 3.750%, 12/1/26(a)		2,175,000
	75,000	Hamilton County, OH, Refunding, G.O. (AMBAC Ins), 4.000%, 12/1/07		75,165
	1,805,000	Harrison Township, OH, Public Improvements Revenue (LOC-Fifth Third Bank), 3.770%, 12/1/24(a)		1,805,000
	6,580,000	Huron County, OH, Hospital Facilities Revenue, (Fisher-Titus Medical Center), Series A (LOC-National City Bank), 3.750%, 12/1/27(a)		6,580,000
	4,195,000	Kent State University, OH, Ohio Universities Revenue, (General Reciepts) (MBIA Ins), 3.700%, 5/1/31(a)		4,195,000
	500,000	Kings, OH, Local School District, Tax Anticipation Notes G.O, 4.750%, 7/26/07		500,297
	840,000	Lebanon, OH, G.O. BAN (Various Purposes), 4.250%, 5/30/08		844,220
	140,000	Lucas County, OH, Health Care Facilities Refunding Revenue, (Sunset Retirement Communities), Series B (LOC-Fifth Third Bank), 3.730%, 8/15/30(a)		140,000
	3,950,000	Mahoning County, OH, Housing Revenue, (Youngstown State University) (LOC-Bank One N.A.), 3.760%, 2/1/33(a)		3,950,000
	750,000	Mason OH, City School District, G.O., 4.500%, 2/7/08		753,852
	1,100,000	Mason, OH, G.O., BAN, 4.500%, 6/26/08		1,107,735
	1,530,000	Middletown, OH, Airport Facilities Acquisition, G.O., 4.250%, 6/4/08		1,536,821
	520,000	Milford, OH, Village School District Refunding, G.O. (FSA Ins), 4.000%, 12/1/07		520,738
	1,000,000	Mount Vernon, OH, G.O., BAN, 4.500%, 9/5/07		1,001,423
	325,000	New Albany, OH, Plain Local School District Refunding, G.O. (MBIA Ins), 4.000%, 12/1/07		325,741
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Ohio* -- *(Continued)*
$	1,125,000	Ohio State Air Quality Development Authority Refunding Revenue, Timken Project (LOC-Fifth Third Bank), 3.760%, 11/1/25(a)	$	1,125,000
	1,650,000	Ohio State Air Quality Development Authority Revenue, Ohio Edison Project, Series A (LOC-Wachovia Bank N.A.), 3.750%, 2/1/14(a)		1,650,000
	5,650,000	Ohio State Air Quality Development Authority Revenue, Series C (LOC-Wachovia Bank N.A.), 3.900%, 6/1/23(a)		5,650,000
	1,400,000	Ohio State Higher Education Facilities (LOC-Fifth Third Bank), 3.800%, 9/1/27(a)		1,400,000
	100,000	Ohio State Higher Education Facilities Common Revenue, (Various Higher Educational-Pooled Financing PG) (LOC-Fifth Third Bank), 3.830%, 9/1/24(a)		100,000
	2,000,000	Ohio State Higher Education Facilities Revenue (LOC-Fifth Third Bank), 3.830%, 9/1/25(a)		2,000,000
	1,000,000	Ohio State Higher Education Facilities Revenue, Case Western Reserve University, 5.000%, 10/1/11		1,013,364
	1,500,000	Ohio State Higher Education Facilities Revenue, John Carroll University (LOC-Allied Irish Bank PLC), 3.740%, 11/15/31(a)		1,500,000
	3,625,000	Ohio State Higher Education Facilities Revenue, Xavier University (LOC-U.S. Bank N.A.), 3.720%, 11/1/30(a)		3,625,000
	2,100,000	Ohio State Higher Educational Facilities Revenue, Marietta College Project (LOC-JP Morgan Chase Bank), 3.760%, 12/1/24(a)		2,100,000
	360,000	Ohio State University General Receipts Revenue, (Various), 3.730%, 12/1/27(a)		360,000
	1,680,000	Ohio State University Higher Educational Facilities Revenue, Xavier University Project, (Various) (LOC-U.S. Bank N.A.), 3.720%, 5/1/15(a)		1,680,000
	1,005,000	Ohio State University, General Receipts Revenue, 3.730%, 12/1/07(a)		1,005,000
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Ohio* -- *(Continued)*
$	1,305,000	Ohio State University, Infrastructure Improvements Revenue, Series B, 3.750%, 8/1/21(a)	$	1,305,000
	2,500,000	Ohio State University, Infrastructure Improvements, Series B, G.O., 3.740%, 8/1/17(a)		2,500,000
	4,700,000	Ohio State University, School Improvements, G.O., Series A, 3.750%, 3/15/25(a)		4,700,000
	2,490,000	Ohio State Water Development Authority Revenue, (Various) (MBIA Ins), 3.750%, 12/1/18(a)		2,490,000
	2,000,000	Parma, OH, Hospital Improvements Revenue, Series C (LOC-JP Morgan Chase Bank), 3.750%, 11/1/30(a)		2,000,000
	125,000	Sandusky County, OH, G.O., 3.600%, 9/27/07		125,000
	3,595,000	Summit County, OH, Port Authority Revenue (LOC-Fifth Third Bank), 3.740%, 11/1/36(a)		3,595,000
	3,000,000	Teays Valley, OH, Local School District, G.O., BAN, 4.000%, 7/20/07		3,000,685
	8,460,000	University of Akron, OH, General Receipts Revenue (FGIC Ins), 3.740%, 1/1/29(a)		8,460,000
	4,775,000	University of Cincinnati, OH, General Receipts Revenue, Series B, (Various) (MBIA Ins), 3.750%, 6/1/20(a)		4,775,000
	4,575,000	University of Cincinnati, OH, General Receipts Revenue, Series B, (Various) (AMBAC Ins), 3.740%, 6/1/31(a)		4,575,000
	1,000,000	University of Cincinnati, OH, General Receipts Revenue, Series C, BAN, 4.500%, 1/24/08		1,004,811
	1,000,000	University of Cincinnati, OH, General Receipts Revenue, Series E, BAN, 4.500%, 1/24/08		1,004,120
	537,980	Warren County, OH, Health Care Facilities Revenue, Otterbein Homes, Series B (LOC-Fifth Third Bank), 3.760%, 7/1/23(a)		537,980
	325,000	Wilmington, OH, G.O., BAN, 4.250%, 7/26/07		325,130

*Total Municipal Bonds* *(Cost $184,680,504)*				*184,680,504*

*Principal* *Amount* *or Shares*				*Value*
*Commercial Papers* -- *3.6%*
*Ohio* -- *3.6%*
$	7,000,000	Cuyahoga County, OH, Cleveland Clinic, 3.630%, 9/6/07	$	7,000,000

*Total Commercial Papers (Cost $7,000,000)*				*7,000,000*

*Cash Equivalents* -- *0.1%*
	295,302	Fidelity Institutional Tax-Exempt Fund, 3.570%(b)		295,302

*Total Cash Equivalents* *(Cost $295,302)*				*295,302*

*Total Investments* *(Cost $191,975,806)* -- *99.1%*				*191,975,806*

*Other* Assets in Excess of Liabilities -- *0.9%*				*1,673,891*

*Net Assets* -- *100.0%*			$	*193,649,697*

(a) Variable or Floating Rate Security. Rate disclosed is as of
June 30, 2007.

(b) Rate disclosed is the seven day yield as of June 30, 2007.

AMBAC -- American Municipal Bond Assurance Corporation
BAN -- Bank Anticipation Note
FGIC -- Financial Guaranty Insurance Company
FSA -- Financial Security Assurance
G.O. -- General Obligation
Ins -- Insured
LOC -- Letter of Credit
MBIA -- Municipal Bond Insurance Association

Huntington U.S. Treasury Money Market Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
U.S. Treasury Bills	51.7%
Repurchase Agreements	48.7%
Liabilities in Excess of Other Assets	(0.4)%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

Portfolio of Investments (unaudited)

*Principal* *Amount*				*Value*
*U.S. Treasury Obligations* -- *51.7%*
*U.S. Treasury Bills*
$	40,000,000	4.680% - 4.810%, 7/5/07(a)	$	39,978,911
	35,000,000	4.630% - 4.640%, 7/19/07(a)		34,918,950
	30,000,000	4.050% - 4.380%, 7/26/07(a)		29,914,375
	45,000,000	4.250% - 4.500%, 8/2/07(a)		44,825,724
	30,000,000	4.240% - 4.540%, 8/9/07(a)		29,858,950
	35,000,000	4.400% - 4.640%, 8/16/07(a)		34,799,517
	30,000,000	4.410% - 4.850%, 8/23/07(a)		29,792,240
	20,000,000	4.840%, 8/30/07(a)		19,838,800
	40,000,000	4.850%, 9/6/07(a)		39,648,957
	25,000,000	4.580% - 4.740%, 9/20/07(a)		24,736,975
	10,000,000	4.730%, 9/27/07(a)		9,884,378
	15,000,000	4.740%, 10/4/07(a)		14,812,573

*Total U.S. Treasury Obligations* *(Cost $353,010,350)*				*353,010,350*

*Repurchase Agreements* -- *48.7%*
	60,000,000	Bear Stearns & Co., Inc., 4.600%, dated 6/28/07, due 7/5/07, repurchase price $60,053,667 (Fully collateralized by U.S. Treasury securities)		60,000,000
	60,000,000	CitiGroup, Inc., 4.800%, dated 6/27/07, due 7/3/07, repurchase price $60,048,000 (Fully collateralized by U.S. Treasury securities)		60,000,000
	60,000,000	JP Morgan Chase & Co., 4.000%, dated 6/29/07, due 7/2/07, repurchase price $60,020,000 (Fully collateralized by U.S. Treasury securities)		60,000,000
*Principal* *Amount*				*Value*
*Repurchase Agreements* -- *(Continued)*
$	60,000,000	Lehman Brothers Holdings, Inc., 3.250%, dated 6/29/07, due 7/2/07, repurchase price $60,016,250 (Fully collateralized by U.S. Treasury securities)	$	60,000,000
	33,044,600	Morgan Stanley Dean Witter & Co., 4.230%, dated 6/29/07, due 7/2/07, repurchase price $33,056,248 (Fully collaterized by U.S. Treasury securities)		33,044,600
	60,000,000	Goldman Sachs & Co., Inc., 4.850%, dated 6/26/07, due 7/3/07, repurchase price $60,056,583 (Fully collateralized by U.S. Treasury securities)		60,000,000

*Total Repurchase Agreements* *(Cost $333,044,600)*				*333,044,600*

*Total Investments* *(Cost $686,054,950)* -- *100.4%*				*686,054,950*

*Liabilities in* Excess of Other Assets -- *(0.4)%*				*(2,602,515)*

*Net Assets* -- *100.0%*			$	*683,452,435*

(a) Rate represents the effective yield at purchase.

Huntington Dividend Capture Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
Common Stocks (includes 8.2% Real Estate Investment Trusts)	53.3%
Preferred Stocks (includes 1.7% Real Estate Investment Trusts)	44.1%
Other Investments (Collateral for Securities Lending)	11.3%
Exchange-Traded Funds	1.9%
Cash¹	1.0%
Liabilities in Excess of Other Assets	(11.6)%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Cash is comprised of investments in an affiliated money market fund.

Portfolio of Investments (unaudited)

*Shares*				*Value*
*Common Stocks* -- *53.3%*
*Consumer Discretionary* -- *5.0%*
	34,000	CBS Corp., Class B(a)	$	1,132,880
	47,000	Newell Rubbermaid, Inc.		1,383,210
	9,000	Sherwin-Williams Co.		598,230
	23,000	Teppco Partners LP		1,020,280
	35,000	The Travelers Companies, Inc.		1,872,500
	35,000	The Walt Disney Co.		1,194,900

				7,202,000

*Consumer Staples* -- *2.8%*
	80,000	ConAgra Foods, Inc.		2,148,800
	29,000	Reynolds American, Inc.		1,890,800

				4,039,600

*Energy* -- *5.2%*
	33,000	Chevron Texaco Corp.		2,779,920
	21,500	ENI SpA		1,555,525
	40,000	Nicor, Inc.(a)		1,716,800
	19,000	Pinnacle West Capital		757,150
	33,000	Xcel Energy, Inc.		675,510

				7,484,905

*Financials* -- *12.2%*
	38,000	American Capital Strategies Ltd.(a)		1,615,760
	48,000	Bank of America Corp.(a)		2,346,720
	38,000	Chubb Corp.		2,057,320
	23,000	Hartford Financial Services Group, Inc.		2,265,730
	49,000	KeyCorp		1,682,170
	20,000	Lincoln National Corp.(a)		1,419,000
	18,000	Morgan Stanley		1,509,840
	23,000	PartnerRe Ltd..		1,782,500
	20,000	Wachovia Corp.(a)		1,025,000
	12,000	Washington Mutual, Inc.(a)		511,680
	39,000	Wells Fargo & Co.(a)		1,371,630

				17,587,350

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Health Care* -- *4.0%*
	26,000	Baxter International, Inc.	$	1,464,840
	21,000	Merck & Co., Inc.		1,045,800
	92,000	Pfizer, Inc.		2,352,440
	17,000	Wyeth		974,780

				5,837,860

*Industrials* -- *8.2%*
	18,000	Air Products & Chemical, Inc.		1,446,660
	25,000	Cooper Industries Ltd., Class A		1,427,250
	12,500	Eaton Corp.		1,162,500
	27,000	Lockheed Martin Corp.		2,541,510
	42,000	R.R. Donnelley & Sons Co.		1,827,420
	38,000	Raytheon Co.		2,047,820
	15,000	Snap-On, Inc.		757,650
	6,000	Union Pacific Corp.		690,900

				11,901,710

*Materials* -- *2.0%*
	30,000	Applied Materials, Inc.(a)		596,100
	43,000	RPM International, Inc.		993,730
	28,000	The Dow Chemical Co.		1,238,160

				2,827,990

*Real Estate Investment Trusts* -- *8.2%*
	26,500	Apartment Investment & Management Co.		1,336,130
	35,000	Brandywine Realty Trust(a)		1,000,300
	27,000	CBL & Associates Properties, Inc.		973,350
	33,000	Cedar Shopping Centers, Inc.		473,550
	15,000	Colonial Properties Trust		546,750
	17,000	Entertainment Properties Trust		914,260
	34,500	First Industrial Realty Trust, Inc.(a)		1,337,220
	21,000	Highwoods Properties, Inc.		787,500
	24,500	Home Properties, Inc.		1,272,285
	28,000	Hospitality Properties Trust		1,161,720
	15,000	Kimco Realty Corp.		571,050
	10,000	Mack-Cali Realty Corp.		434,900
	10,000	National Retail Properties, Inc.		218,600
	31,000	Realty Income Corp.(a)		780,890

				11,808,505

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Technology* -- *2.8%*
	22,000	Accenture Ltd.	$	943,580
	40,000	Hewlett Packard Co.		1,784,800
	8,000	International Business Machines Corp.		842,000
	45,525	Taiwan Semiconductor Manufacturing Co., Ltd. ADR		506,693

				4,077,073

*Telecommunications* -- *2.9%*
	63,000	AT&T, Inc.(a)		2,614,500
	2,688	Citadel Broadcasting Corp.		17,336
	21,000	Verizon Communications, Inc.(a)		864,570
	43,000	Windstream Corp.		634,680

				4,131,086

*Total Common Stocks* *(Cost $71,056,922)*				*76,898,079*

*Preferred Stocks* -- *44.1%*
*Consumer Discretionary* -- *1.6%*
	80,000	Comcast Corp., 7.000%(a)		2,026,400
	11,000	Lincoln National Capital VI, Series F, 6.750%		273,900

				2,300,300

*Financials* -- *36.0%*
	80,000	Abbey National PLC, Series C, 7.375%		2,009,600
	115,000	ABN Amro Capital Funding Trust V, 5.900%		2,663,400
	100,000	Ace Ltd., Series C, 7.800%		2,549,000
	78,900	ASBC Capital I, 7.625%		1,983,546
	30,000	BAC Capital Trust XII, 6.875%		768,600
	30,000	CitiGroup Capital Trust VIII, 6.950%		751,500
	75,000	Compass Capital, 7.350%		1,876,500
	80,000	Countrywide Financial Capital IV, 6.750%		1,870,400
	39,400	Everest Re Capital Trust, 7.850%		1,000,366
	20,000	Fleet Capital Trust VIII, 7.200%		503,400
	150,687	General Electric Capital Corp., 6.100%		3,642,105
	7,000	General Electric Capital Corp., Series A, 6.450%		177,590
	25,608	Goldman Sachs Group, Inc., Series B, 6.200%		651,724
*Shares*				*Value*
*Preferred Stocks* -- *(Continued)*
*Financials* -- *(Continued)*
	70,000	HSBC Holdings PLC, Series A, 6.200%	$	1,669,500
	125,000	ING Groep NV, 6.125%		2,941,250
	63,000	JP Morgan Chase & Co., Series X, 7.000%		1,580,670
	60,000	KeyCorp Capital VIII, 7.000%		1,518,000
	85,000	Lehman Brothers Holdings, Inc., 6.500%		2,159,000
	10,000	Merrill Lynch & Co. Capital Trust III, 7.000%		250,100
	100,000	Merrill Lynch Capital Trust V, 7.280%		2,520,000
	15,000	Metlife, Inc., Series B, 6.500%		383,850
	70,000	Morgan Stanley Capital Trust, 6.600%		1,715,000
	80,000	National City Capital Trust II, 6.625%		1,952,000
	45,887	PLC Capital Trust, 7.250%		1,146,716
	6,500	Provident Financial Group, Inc., 8.375%		165,230
	51,450	Prudential PLC, 6.500%		1,278,532
	92,800	RenaissanceRe Holdings Ltd., Series B, 7.300%		2,345,056
	115,000	Royal Bank of Scotland Group PLC, Series N, 6.350%		2,783,000
	90,000	SLM Corp., 6.000%		1,755,000
	114,700	The Bank of New York, Inc. Capital V, 7.800%		2,663,334
	15,000	Wells Fargo Capital Trust II, 7.000%		377,250
	96,000	Wells Fargo Capital Trust VIII, 5.850%		2,245,440

				51,896,659

*Real Estate Investment Trusts* -- *1.7%*
	6,500	Equity Residential Properties, Series D, 8.600%		161,980
	10,700	Prologis Trust, Series F, 6.750%		265,253
	88,100	Public Storage, Series F, 6.450%		2,048,325

				2,475,558

*Shares*				*Value*
*Preferred Stocks* -- *(Continued)*
*Utilities* -- *4.8%*
	3,000	AT&T, Inc., 7.000%	$	75,420
	120,000	BGE Capital Trust II, 6.200%		2,823,600
	77,400	Entergy LA, Inc., 7.600%(a)		1,936,548
	80,000	FPL Group Capital, Inc., Series A, 6.600%		1,990,400

				6,825,968

*Total Preferred Stocks* *(Cost $66,050,073)*				*63,498,485*

*Mutual Funds* -- *1.9%*
*Exchange Traded Funds* -- *1.9%*
	108,000	AMEX Technology SPDR(a)		2,770,200

*Total Mutual Funds* *(Cost $2,169,012)*				*2,770,200*

*Cash Equivalents* -- *1.0%*
	1,400,779	Huntington Money Market Fund, Interfund Shares, 4.710%(b)(c)		1,400,779

*Total Cash Equivalents* *(Cost $1,400,779)*				*1,400,779*

*Short-Term Securities Held As Collateral For* *Securities Lending* -- *11.3%*
		Pool of various securities for the Huntington Funds		16,322,757

*Total Short-Term Securities Held As Collateral* *For Securities Lending* *(Cost $16,322,757)*				*16,322,757*

*Total Investments* *(Cost $156,999,543)* -- *111.6%*				*160,890,300*

*Liabilities in* Excess of Other Assets -- *(11.6)%*				*(16,720,997)*

*Net Assets* -- *100.0%*			$	*144,169,303*

(a) All or part of the security was on loan as of June 30, 2007.

(b) Investment in affiliate.

(c) Rate disclosed is the seven day yield as of June 30, 2007.

ADR -- American Depositary Receipt
SPA -- Sales and Purchase Agreement
SPDR -- Standard & Poor’s Depositary Receipt

Huntington Growth Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
Technology	19.9%
Health Care	14.3%
Energy	11.4%
Consumer Staples	10.7%
Financials	10.6%
Industrials	10.2%
Consumer Discretionary	9.6%
Other Investments (Collateral for Securities Lending)	5.9%
Materials	5.1%
Utilities	4.3%
Telecommunications	3.2%
Cash¹	0.7%
Liabilities in Excess of Other Assets	(5.9)%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Cash includes investments in an affiliated money market fund.

Portfolio of Investments (unaudited)

*Shares*				*Value*
*Common Stocks* -- *99.3%*
*Consumer Discretionary* -- *9.6%*
	31,000	Johnson Controls, Inc.	$	3,588,870
	47,560	Kohl’s Corp.*		3,378,187
	16,500	Marriott International, Inc., Class A		713,460
	144,200	Mattel, Inc.(a)		3,646,818
	83,800	McDonald’s Corp.		4,253,688
	71,400	Nike, Inc. Class B		4,161,906
	8,080	Nordstrom, Inc.		413,049
	106,800	The Walt Disney Co.		3,646,152

				23,802,130

*Consumer Staples* -- *10.7%*
	20,000	Bunge Ltd.		1,690,000
	93,250	Colgate-Palmolive Co.		6,047,262
	26,200	CVS Corp.		954,990
	29,100	Fomento Economico Mexicano SA de CV ADR		1,144,212
	58,500	General Mills, Inc.		3,417,570
	128,400	Kroger Co.		3,611,892
	22,000	Molson Coors Brewing Co., Class B		2,034,120
	38,000	Procter & Gamble Co.		2,325,220
	118,600	Walgreen Co.		5,163,844
	875	WM Wrigley Jr. Co., Class B		47,688

				26,436,798

*Energy* -- *11.4%*
	40,000	Devon Energy Corp.		3,131,600
	81,065	Exxon Mobil Corp.		6,799,732
	22,320	Marathon Oil Corp.		1,338,307
	119,880	Occidental Petroleum Corp.(a)		6,938,655
	118,300	Schlumberger, Ltd.(a)		10,048,402

				28,256,696

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Financials* -- *10.6%*
	69,000	American Express Co.	$	4,221,420
	48,900	Ameriprise Financial, Inc.		3,108,573
	12	Berkshire Hathaway, Inc.*		1,313,700
	38,200	Credit Suisse Group ADR		2,710,672
	7,000	Franklin Resources, Inc.		927,290
	13,630	Goldman Sachs Group, Inc.		2,954,303
	79,000	JP Morgan Chase & Co.		3,827,550
	27,700	Metlife, Inc.		1,786,096
	31,300	Prudential Financial, Inc.		3,043,299
	32,500	State Street Corp.		2,223,000

				26,115,903

*Health Care* -- *14.3%*
	100,000	Abbott Laboratories		5,355,000
	90,000	Baxter International, Inc.		5,070,600
	25,000	C.R. Bard, Inc.		2,065,750
	12,000	Celgene Corp.(a)*		687,960
	9,200	Laboratory Corporation of America Holdings*		719,992
	40,000	Novo-Nordisk A/S		4,346,400
	24,000	Roche Holdings Ltd. AG ADR		2,128,591
	95,730	Schering-Plough Corp.		2,914,021
	40,000	Stryker Corp.		2,523,600
	48,700	Thermo Fisher Scientific, Inc.*		2,518,764
	49,640	Wellpoint, Inc.*		3,962,762
	55,000	Wyeth		3,153,700

				35,447,140

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Industrials* -- *10.2%*
	5,650	General Dynamics Corp.	$	441,943
	175,200	General Electric Co.		6,706,656
	95,000	Illinois Tool Works, Inc.(a)		5,148,050
	35,700	Lockheed Martin Corp.		3,360,441
	22,000	Precision Castparts Corp.		2,669,920
	40,000	Terex Corp.*		3,252,000
	40,000	W.W. Grainger, Inc.		3,722,000

				25,301,010

*Materials* -- *5.1%*
	24,900	BASF AG, ADR		3,254,679
	13,534	Freeport-McMoran Copper & Gold, Inc.		1,120,886
	65,800	Lafarge SA ADR(a)		2,997,190
	39,400	Nucor Corp.		2,310,810
	38,990	Praxair, Inc.		2,806,890

				12,490,455

*Technology* -- *19.9%*
	14,000	Amphenol Corp., Class A		499,100
	28,600	Apple Computer, Inc.*		3,490,344
	48,000	ASM Holding NV*		1,317,600
	140,000	Cisco Systems, Inc.*		3,899,000
	55,000	Fidelity National Information Services, Inc.		2,985,400
	4,300	Google, Inc., Class A(a)*		2,250,534
	181,587	Hewlett Packard Co.		8,102,412
	47,600	International Business Machines Corp.		5,009,900
	45,000	MEMC Electronic Materials, Inc.*		2,750,400
	220,625	Microsoft Corp.		6,501,819
	352,500	Oracle Corp.*		6,947,775
	34,200	Telefonaktiebolaget LM Ericsson ADR		1,364,238
	219,100	Xerox Corp.*		4,048,968

				49,167,490

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Telecommunications* -- *3.2%*
	106,700	AT&T, Inc.	$	4,428,050
	8,201	Citadel Broadcasting Corp.		52,896
	56,600	Telephone & Data Systems, Inc.		3,541,462

				8,022,408

*Utilities* -- *4.3%*
	49,200	FirstEnergy Corp.		3,184,716
	53,610	FPL Group, Inc.		3,041,831
	103,600	NRG Energy, Inc.*		4,306,652

				10,533,199

*Total Common Stocks (Cost $172,971,374)*				*245,573,229*

*Cash Equivalents* -- *0.7%*
	1,436,607	Huntington Money Market Fund, Interfund Shares, 4.710%(b)(c)		1,436,607
	242,532	The Flex-funds Money Market Fund (Institutional Class), 5.080%(c)		242,532

*Total Cash Equivalents (Cost $1,679,139)*				*1,679,139*

*Short-Term Securities Held As Collateral For* *Securities Lending* -- *5.9%*
		Pool of various securities for the Huntington Funds		14,611,419

*Total Short-Term Securities Held As Collateral For* *Securities Lending (Cost $14,611,419)*				*14,611,419*

*Total Investments* *(Cost $189,261,932)* -- *105.9%*				*261,863,787*

*Liabilities in* Excess of Other Assets -- *(5.9)%*				*(14,681,465)*

*Net Assets* -- *100.0%*			$	*247,182,322*

(a) All or part of the security was on loan as of June 30, 2007.

(b) Investment in affiliate.

(c) Rate disclosed is the seven day yield as of June 30, 2007.

* Non-income producing security

ADR -- American Depositary Receipt

Huntington Income Equity Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
Financials	28.9%
Other Investments (Collateral for Securities Lending)	13.6%
Technology	13.3%
Industrials	10.9%
Consumer Discretionary	9.2%
Health Care	8.5%
Energy	8.4%
Telecommunications	5.9%
Consumer Staples	5.4%
Materials	5.3%
Utilities	3.6%
Cash¹	1.4%
Liabilities in Excess of Other Assets	(14.4)%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Cash is comprised of investments in an affiliated money market fund.

Portfolio of Investments (unaudited)

*Shares*				*Value*
*Common Stocks* -- *99.4%*
*Consumer Discretionary* -- *9.2%*
	155,800	CBS Corp., Class B(a)	$	5,191,256
	30,000	Cummins Engine, Inc.		3,036,300
	35,300	Gannett Co., Inc.(a)		1,939,735
	51,300	Genuine Parts Co.		2,544,480
	75,500	Royal Caribbean Cruises Ltd.(a)		3,244,990
	94,000	Time Warner, Inc.(a)		1,977,760
	12,300	V.F. Corp.		1,126,434

				19,060,955

*Consumer Staples* -- *5.4%*
	86,200	Archer-Daniels-Midland Co.		2,852,358
	100,000	Constellation Brands, Inc.(a)*		2,428,000
	32,100	General Mills, Inc.		1,875,282
	42,800	Molson Coors Brewing Co., Class B		3,957,288

				11,112,928

*Energy* -- *8.4%*
	22,800	American Electric Power Co., Inc.		1,026,912
	38,800	Apache Corp.		3,165,692
	27,600	Chevron Texaco Corp.		2,325,024
	34,300	ConocoPhillips		2,692,550
	15,000	Devon Energy Corp.		1,174,350
	36,200	Marathon Oil Corp.		2,170,552
	46,700	Occidental Petroleum Corp.		2,702,996
	20,400	Progress Energy, Inc.(a)		930,036
	16,000	Valero Energy Corp.		1,181,760

				17,369,872

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Financials* -- *28.9%*
	80,100	Bank of America Corp.(a)	$	3,916,089
	109,000	BB&T Corp.		4,434,120
	107,200	CitiGroup, Inc.		5,498,288
	70,300	Comerica, Inc.		4,180,741
	89,400	JP Morgan Chase & Co.		4,331,430
	68,100	Lincoln National Corp.(a)		4,831,695
	85,500	Loews Corp.		4,358,790
	187,800	Progressive Corp.		4,494,054
	122,899	Regions Financial Corp.(a)		4,067,957
	50,300	SunTrust Banks, Inc.(a)		4,312,722
	47,200	Torchmark Corp.		3,162,400
	97,000	Unitrin, Inc.		4,770,460
	75,400	Wachovia Corp.(a)		3,864,250
	81,500	Washington Mutual, Inc.(a)		3,475,160

				59,698,156

*Health Care* -- *8.5%*
	46,000	Aetna, Inc.		2,272,400
	49,700	Johnson & Johnson		3,062,514
	51,200	King Pharmaceuticals, Inc.*		1,047,552
	40,700	Merck & Co., Inc.		2,026,860
	79,100	Pfizer, Inc.		2,022,587
	56,500	Sanofi-Aventis, ADR		2,275,255
	37,500	Teva Pharmaceutical Industries Ltd.		1,546,875
	59,200	Wyeth		3,394,528

				17,648,571

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Industrials* -- *10.9%*
	22,600	Eaton Corp.	$	2,101,800
	20,700	Fedex Corp.		2,297,079
	66,000	General Electric Co.		2,526,480
	50,900	Ingersoll Rand Co.		2,790,338
	33,300	L-3 Communications Corp.(a)		3,243,087
	42,900	Masco Corp.		1,221,363
	57,900	Parker Hannifin Corp.		5,668,989
	60,000	R.R. Donnelley & Sons Co.		2,610,600

				22,459,736

*Materials* -- *5.3%*
	75,400	Du Pont (E.I.) de Nemours & Co.		3,833,336
	46,000	PPG Industries, Inc.		3,501,060
	84,200	The Dow Chemical Co.		3,723,324

				11,057,720

*Technology* -- *13.3%*
	42,000	Automatic Data Processing, Inc.		2,035,740
	104,000	Cisco Systems, Inc.*		2,896,400
	48,300	Hewlett Packard Co.		2,155,146
	18,800	International Business Machines Corp.		1,978,700
	148,400	Nokia Corp.		4,171,524
	106,000	Oracle Corp.*		2,089,260
	57,200	Seagate Technology		1,245,244
	111,000	Symantec Corp.*		2,242,200
	471,000	United Microelectronics Corp. ADR(a)		1,610,820
	70,000	United Technologies Corp.		4,965,100
	110,000	Xerox Corp.*		2,032,800

				27,422,934

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Telecommunications* -- *5.9%*
	53,400	AT&T, Inc.	$	2,216,100
	23,200	BT Group PLC ADR		1,544,656
	178,500	Deutsche Telecom AG ADR		3,286,185
	118,000	Sprint Corp.		2,443,780
	44,400	Telephone & Data Systems, Inc.		2,778,108

				12,268,829

*Utilities* -- *3.6%*
	41,000	Consolidated Edison, Inc.		1,849,920
	29,100	DTE Energy Co.		1,403,202
	121,300	Duke Energy Corp.		2,219,790
	120,400	TECO Energy, Inc.		2,068,472

				7,541,384

*Total Common Stocks* *(Cost $163,725,095)*				*205,641,085*

*Cash Equivalents* -- *1.4%*
	2,955,574	Huntington Money Market Fund, Interfund Shares, 4.710%(b)(c)		2,955,574

*Total Cash Equivalents* *(Cost $2,955,574)*				*2,955,574*

*Short-Term Securities Held As Collateral For* *Securities Lending* -- *13.6%*
		Pool of various securities for the Huntington Funds		28,130,391

*Total Short-Term Securities Held As Collateral* *For Securities Lending* *(Cost $28,130,391)*				*28,130,391*

*Total Investments* *(Cost $194,811,060)* -- *114.4%*				*236,727,050*

*Liabilities in* Excess of Other Assets -- *(14.4)%*				*(29,757,309)*

*Net Assets* -- *100.0%*			$	*206,969,741*

(a) All or part of the security was on loan as of June 30, 2007.

(b) Investment in affiliate.

(c) Rate disclosed is the seven day yield as of June 30, 2007.

* Non-income producing security

ADR -- American Depositary Receipt

Huntington International Equity Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
United Kingdom	20.6%
Japan	20.3%
France	9.2%
Netherlands	6.1%
Singapore	5.0%
Germany	4.9%
Repurchase Agreements	4.5%
Sweden	4.2%
Spain	4.1%
Switzerland	3.4%
Ireland	2.8%
Finland	2.4%
Netherlands Antilles	2.1%
Canada	1.7%
Mexico	1.3%
Taiwan	1.2%
Malaysia	1.0%
Italy	0.9%
Norway	0.9%
India	0.8%
Other Assets in Excess of Liabilities	2.6%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

Portfolio of Investments (unaudited)

*Shares*				*Value*
*Common Stocks* -- *89.9%*
*Canada* -- *1.7%*
*Energy* -- *1.4%*
	70,000	EnCana Corp.	$	4,301,500

				4,301,500

*Industrials* -- *0.3%*
	20,000	Canadian National Railway Co.		1,018,600

				1,018,600

				5,320,100

*Finland* -- *2.4%*
*Technology* -- *2.4%*
	275,000	Nokia OYJ		7,744,644

*France* -- *9.2%*
*Consumer Discretionary* -- *1.2%*
	87,000	Vivendi		3,757,013

				3,757,013

*Consumer Staples* -- *1.2%*
	48,600	Groupe DANONE		3,947,562

				3,947,562

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*France* -- *(Continued)*
*Energy* -- *2.0%*
	80,140	Total SA	$	6,535,445

				6,535,445

*Financials* -- *1.9%*
	144,900	AXA ADR		6,236,496

				6,236,496

*Industrials* -- *2.3%*
	53,000	Schneider Electric SA		7,468,759

				7,468,759

*Utilities* -- *0.6%*
	31,800	Suez SA ADR		1,822,776

				1,822,776

				29,768,051

*Germany* -- *4.9%*
*Health Care* -- *1.5%*
	76,300	Stada Arzneimittel AG		4,874,783

				4,874,783

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Germany* -- *(Continued)*
*Technology* -- *1.7%*
	104,400	SAP AG	$	5,349,064

				5,349,064

*Utilities* -- *1.7%*
	100,000	E ON AG ADR		5,564,000

				5,564,000

				15,787,847

*Ireland* -- *2.8%*
*Consumer Staples* -- *1.4%*
	163,300	Kerry Group PLC		4,574,601

				4,574,601

*Financials* -- *1.4%*
	210,000	Anglo Irish Bank Corp. PLC		4,291,340

				4,291,340

				8,865,941

*Italy* -- *0.9%*
*Industrials* -- *0.9%*
	96,000	Finmeccanica SPA		2,966,018

*Japan* -- *20.3%*
*Consumer Discretionary* -- *2.4%*
	94,000	Honda Motor Co., Ltd.		3,435,952
	222,000	Matsushita Electric Industrial Co. Ltd.		4,408,984

				7,844,936

*Consumer Staples* -- *4.4%*
	390,000	Ajinomoto Co., Inc.		4,501,584
	158,000	Shiseido Co. Ltd.		3,375,355
	113,600	Uni-Charm Corp.		6,450,037

				14,326,976

*Financials* -- *1.8%*
	524,500	Mitsubishi Tokyo Financial Group, Inc.		5,779,990

				5,779,990

*Health Care* -- *2.4%*
	57,000	Eisai Co. Ltd.		2,490,943
	96,400	ONO Pharmaceutical Co. Ltd.		5,113,248

				7,604,191

*Industrials* -- *3.0%*
	265,000	KOMATSU Ltd.		7,706,117
	260,000	Kubota Corp.		2,111,932

				9,818,049

*Technology* -- *5.5%*
	112,500	Canon, Inc.		6,606,896
	16,150	Nintendo Co. Ltd.		5,916,376
	277,000	Sharp Corp.		5,265,047

				17,788,319

*Utilities* -- *0.8%*
	76,000	The Tokyo Electric Power Co., Inc.		2,444,643
				2,444,643

				65,607,104

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Mexico* -- *1.3%*
*Materials* -- *1.3%*
	116,604	Cemex SA ADR	$	4,302,688

*Netherlands* -- *6.1%*
*Consumer Discretionary* -- *2.2%*
	169,000	Koninklijke (Royal) Phillips Electronics NV ADR		7,152,080

				7,152,080

*Financials* -- *2.0%*
	147,012	ING Group NV		6,523,654

				6,523,654

*Industrials* -- *1.9%*
	133,800	TNT NV		6,053,258

				6,053,258

				19,728,992

*Netherlands Antilles* -- *2.1%*
*Energy* -- *2.1%*
	79,000	Schlumberger, Ltd.		6,710,260

*Norway* -- *0.9%*
*Telecommunications* -- *0.9%*
	141,000	Telenor ASA		2,768,857

*Singapore* -- *5.0%*
*Industrials* -- *3.0%*
	1,186,000	Keppel Corp. Ltd.		9,687,010

				9,687,010

*Telecommunications* -- *2.0%*
	2,955,930	Singapore Telecommunications Ltd.		6,567,016

				6,567,016

				16,254,026

*Spain* -- *4.1%*
*Financials* -- *1.8%*
	240,700	Banco Bilbao Vizcaya SA ADR		5,868,266

				5,868,266

*Telecommunications* -- *2.3%*
	332,384	Telefonica SA		7,439,989

				7,439,989

				13,308,255

*Sweden* -- *4.2%*
*Financials* -- *1.9%*
	162,600	Swedbank AB, Class A		5,921,808

				5,921,808

*Industrials* -- *2.3%*
	369,500	Sandvik AB		7,512,140

				7,512,140

				13,433,948

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Switzerland* -- *3.4%*
*Health Care* -- *1.2%*
	66,900	Novartis AG	$	3,779,971

				3,779,971

*Materials* -- *2.2%*
	183,100	Syngenta AG ADR		7,128,083

				7,128,083

				10,908,054

*United Kingdom* -- *20.6%*
*Consumer Discretionary* -- *2.0%*
	384,000	Pearson PLC		6,499,849

				6,499,849

*Consumer Staples* -- *4.6%*
	554,400	Cadbury Schweppes PLC		7,569,664
	872,284	Tesco PLC		7,329,897

				14,899,561

*Energy* -- *2.4%*
	476,000	BG Group PLC		7,851,615

				7,851,615

*Financials* -- *4.5%*
	478,000	Barclays PLC		6,680,080
	240,000	Standard Chartered PLC		7,854,948

				14,535,028

*Health Care* -- *0.8%*
	46,850	GlaxoSmithKline PLC ADR		2,453,535

				2,453,535

*Industrials* -- *2.0%*
	608,000	Rolls-Royce Group PLC		6,574,062

				6,574,062

*Materials* -- *2.7%*
	27,900	Rio Tinto PLC ADR		8,540,748

				8,540,748

*Shares or* *Principal* *Amount*				*Value*
*Common Stocks* -- *(Continued)*
*Utilities* -- *1.6%*
	177,100	Scottish & Southern Energy PLC	$	5,152,660
				5,152,660

				66,507,058

*Total Common Stocks* *(Cost $190,068,361)*				*289,981,843*

*Mutual Funds* -- *3.0%*
*India* -- *0.8%*
*Management Investment Operation* -- *0.8%*
	58,200	Morgan Stanley India Fund		2,618,418

*Malaysia* -- *1.0%*
*Management Investment Operation* -- *1.0%*
	275,000	iShares MSCI Malaysia Index Fund		3,253,250

*Taiwan* -- *1.2%*
*Management Investment Operation* -- *1.2%*
	235,000	iShares MSCI Taiwan Index Fund		3,750,600

*Total Mutual Funds* *(Cost $7,470,178)*				*9,622,268*

*Repurchase Agreements* -- *4.5%*
$	14,569,000	State Street Bank, 3.400%, dated 6/29/07, due 7/2/07, repurchase price 14,573,128 (Fully collaterized by U.S. Treasury securities)		14,569,000

*Total Repurchase Agreements* *(Cost $14,569,000)*				*14,569,000*

*Total Investments* *(Cost $212,107,539)* -- *97.4%*				*314,173,111*

*Other* Assets in Excess of Liabilities -- *2.6%*				*8,327,646*

*Net Assets* -- *100.0%*			$	*322,500,757*

ADR -- American Depositary Receipt
SPA -- Sales and Purchase Agreement

Huntington Macro 100 Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
Technology	47.6%
Financials	15.7%
Consumer Discretionary	14.8%
Telecommunications	7.6%
Industrials	5.0%
Consumer Staples	4.9%
Materials	1.6%
Cash¹	1.4%
Health Care	0.8%
Utilities	0.6%
Other Assets in Excess of Liabilities	0.0%²

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Cash is comprised of investments in an affiliated money market fund.

² Rounds to less than 0.05%.

Portfolio of Investments (unaudited)

*Shares*			*Value*
*Common Stocks* -- *98.6%*
*Consumer Discretionary* -- *14.8%*
5,600	Amazon.Com, Inc.*	$	383,096
13,000	CBS Corp., Class B		433,160
2,800	Family Dollar Stores, Inc.		96,096
9,300	Gap, Inc.		177,630
3,100	Genuine Parts Co.		153,760
1,300	Harman International Industries, Inc.		151,840
35,700	Home Depot, Inc.		1,404,795
4,000	IAC/InterActiveCorp*		138,440
5,800	Kohl’s Corp.*		411,974
26,600	Lowe’s Cos., Inc.		816,354
1,600	MGIC Investment Corp.		90,976
2,552	RadioShack Corp		84,573
8,300	The Interpublic Group of Cos., Inc.*		94,620
3,200	Tribune Co.		94,080
43,000	Wal-Mart Stores, Inc.		2,068,730

			6,600,124

*Consumer Staples* -- *4.9%*
5,000	Coca-Cola Enterprises, Inc.		120,000
12,800	Sara Lee Corp.		222,720
35,200	The Coca-Cola Co.		1,841,312

			2,184,032

*Financials* -- *15.7%*
4,300	Ameriprise Financial, Inc.		273,351
7,400	Capital One Financial Corp.		580,456
2,800	Comerica, Inc.		166,516
17,100	Fannie Mae		1,117,143
12,200	Federal Home Loan Mortgage Corp.		740,540
9,800	Fifth Third Bancorp		389,746
2,300	First Horizon National Corp.		89,700
7,400	Goldman Sachs Group, Inc.		1,603,950
*Shares*			*Value*
*Common Stocks* -- *(Continued)*
*Financials* -- *(Continued)*
18,700	Morgan Stanley	$	1,568,556
6,400	Sovereign Bancorp		135,296
18,000	The Charles Schwab Corp.		369,360

			7,034,614

*Health Care* -- *0.8%*
20,700	Boston Scientific Corp.*		317,538
8,400	Tenet Healthcare Corp.*		54,684

			372,222

*Industrials* -- *5.0%*
7,800	Avon Products, Inc.		286,650
7,900	Carnival Corp.		385,283
33,200	Ford Motor Co.		312,744
9,900	General Motors Corp.		374,220
7,900	International Paper Co.		308,495
9,700	Marsh & Mclennan Cos., Inc.		299,536
2,650	New York Times Co., Class A		67,310
13,900	Southwest Airlines Co.		207,249

			2,241,487

*Materials* -- *1.6%*
24,500	Applied Materials, Inc.		486,815
2,000	Jones Apparel Group, Inc.		56,500
2,300	Perkinelmer, Inc.		59,938
1,900	Waters Corp.*		112,784

			716,037

*Shares*			*Value*
*Common Stocks* -- *(Continued)*
*Technology* -- *47.6%*
10,300	Adobe Systems, Inc.*	$	413,545
9,800	Advanced Micro Devices, Inc.*		140,140
1,900	Affiliated Computer Services, Inc.*		107,768
6,400	Altera Corp.		141,632
6,000	Analog Devices, Inc.		225,840
4,200	Autodesk, Inc.*		197,736
3,700	BMC Software, Inc.*		112,110
7,400	CA, Inc.		191,142
1,600	Ciena Corp.*		57,808
76,300	Cisco Systems, Inc.*		2,124,955
5,900	Compuware Corp.*		69,974
39,700	Dell, Inc.*		1,133,435
20,000	Ebay, Inc.*		643,600
36,900	EMC Corp.*		667,890
97,800	Intel Corp.		2,323,728
20,800	International Business Machines Corp.		2,189,200
6,200	Intuit, Inc.*		186,496
3,400	Jabil Circuit, Inc.		75,038
3,630	Kla-Tencor Corp.		199,469
1,800	Lexmark International Group, Inc.*		88,758
5,394	Linear Technology Corp.		195,155
13,600	LSI Logic Corp.*		102,136
5,786	Maxim Integrated Products, Inc.		193,310
13,300	Micron Technology, Inc.*		166,649
70,400	Microsoft Corp.		2,074,688
2,650	Molex, Inc.		79,527
41,800	Motorola, Inc.		739,860
6,100	Novell, Inc.*		47,519
2,358	Novellus Systems*		66,896
6,300	NVIDIA Corp.*		260,253
69,800	Oracle Corp.*		1,375,758
3,900	PMC-Sierra, Inc.*		30,147
2,944	QLogic Corp.*		49,018
29,000	Qualcomm, Inc.		1,258,310
9,300	Sanmina Corp.*		29,109
15,900	Solectron Corp.*		58,512
62,800	Sun Microsystems, Inc.*		330,328
16,299	Symantec Corp.*		329,240
1,500	Tektronix, Inc.		50,610
7,800	Tellabs, Inc.*		83,928
3,430	Teradyne, Inc.*		60,299
25,300	Texas Instruments, Inc.		952,039
6,200	Unisys Corp.*		56,668
4,500	Verisign, Inc.*		142,785
12,200	Viacom, Inc., CLASS B*		507,886
6,000	Xilinx, Inc.		160,620
21,500	Yahoo!, Inc.*		583,295

			21,274,809

*Shares*			*Value*
*Common Stocks* -- *(Continued)*
*Telecommunications* -- *7.6%*
2,200	ADC Telecommunications, Inc.*	$	40,326
8,000	Avaya, Inc.*		134,720
8,800	Clear Channel Communications, Inc.		332,816
54,300	Comcast Corp., CLASS A*		1,526,916
3,800	JDS Uniphase Corp.*		51,034
10,000	Juniper Networks, Inc.*		251,700
50,800	Sprint Corp.		1,052,068

			3,389,580

*Utilities* -- *0.6%*
3,200	DTE Energy Co.		154,304
7,100	Dynegy, Inc.*		67,024
3,726	TECO Energy, Inc.		64,013

			285,341

*Total Common Stocks* *(Cost $42,435,05*1)			*44,098,246*

*Cash Equivalents* -- *1.4%*
618,152	Huntington Money Market Fund, Interfund Shares, 4.710%(a)(b)		618,152

*Total Cash Equivalents* *(Cost $618,15*2)			*618,152*

*Total Investments* *(Cost $43,053,203)* -- *100.0%*			*44,716,398*

*Other* Assets in Excess of Liabilities(c) -- *0.0%*			*12,390*

*Net Assets* -- *100.0%*		$	*44,728,788*

(a) Investment in affiliate.

(b) Rate disclosed is the seven day yield as of June 30, 2007.

(c) Amount rounds to less than 0.05%.

* Non-income producing security

Huntington Mid Corp America Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage of* *Net Assets*
Industrials	17.6%
Other Investments (Collateral for Securities Lending)	14.9%
Financials	13.9%
Technology	13.1%
Energy	12.4%
Health Care	12.0%
Consumer Discretionary	11.3%
Materials	7.1%
Utilities	5.3%
Consumer Staples	3.5%
Cash¹	2.5%
Telecommunications	0.8%
Real Estate Investment Trusts	0.0%²
Liabilities in Excess of Other Assets	(14.4)%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Cash is comprised of investments in an affiliated money market fund

² Amount rounds to less than 0.05%.

Portfolio of Investments (unaudited)

*Shares*				*Value*
*Common Stocks* -- *97.0%*
*Consumer Discretionary* -- *11.3%*
	19,500	Abercrombie & Fitch Co., Class A	$	1,423,110
	30,900	AnnTaylor Stores Corp.*		1,094,478
	21,000	Beazer Homes USA, Inc.(a)		518,070
	16,200	BorgWarner, Inc.		1,393,848
	12,000	Boyd Gaming Corp.		590,280
	16,900	Brunswick Corp.(a)		551,447
	17,200	Cummins Engine, Inc.		1,740,812
	14,666	D. R. Horton, Inc.		292,293
	30,934	Fidelity National Title Group, Inc., Class A(a)		733,136
	19,200	Hanover Insurance Group, Inc.		936,768
	4,000	Hilton Hotels Corp.(a)		133,880
	23,000	Liz Claiborne, Inc.(a)		857,900
	40,000	Nordstrom, Inc.		2,044,800
	5,000	Polo Ralph Lauren Corp.		490,550
	18,382	Pulte Homes, Inc.		412,676
	12,000	Republic Services, Inc., Class A		367,680
	37,200	Royal Caribbean Cruises Ltd.		1,598,856
	27,500	Sonic Automotives, Inc.		796,675
	6,000	Starwood Hotels & Resorts Worldwide, Inc.		402,420
	14,700	The Stanley Works		892,290
	10,000	UniFirst Corp.		440,500
	10,600	Whirlpool Corp.		1,178,720
	8,000	Wolverine World Wide, Inc.		221,680
	31,800	Zales Corp.*		757,158

				19,870,027

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Consumer Staples* -- *3.5%*
	31,200	Church & Dwight Co., Inc.	$	1,511,952
	20,000	Constellation Brands, Inc.(a)*		485,600
	5,000	Molson Coors Brewing Co., Class B		462,300
	27,800	NBTY, Inc.*		1,200,960
	20,700	Ralcorp Holding, Inc.*		1,106,415
	18,900	Smithfield Foods, Inc.*		581,931
	16,400	Supervalu, Inc.		759,648

				6,108,806

*Energy* -- *12.4%*
	27,710	Apache Corp.		2,260,859
	4,500	Baker Hughes, Inc.(a)		378,585
	14,900	BJ Services Co.		423,756
	62,700	Chesapeake Energy Corp.(a)		2,169,420
	39,644	Devon Energy Corp.		3,103,729
	11,300	Forest Oil Corp.(a)*		477,538
	29,200	Helmerich & Payne, Inc.		1,034,264
	9,145	Mariner Energy, Inc.*		221,766
	19,800	Murphy Oil Corp.		1,176,912
	27,900	National Fuel Gas Co.(a)		1,208,349
	68,000	Noble Energy, Inc.		4,242,520
	700	Patterson-Uti Energy, Inc.(a)		18,347
	6,000	Smith International, Inc.		351,840
	66,200	Spectra Energy Corp		1,718,552
	15,600	Suncor Energy, Inc. ADR		1,402,752
	500	Sunoco, Inc.		39,840
	15,000	Unit Corp.*		943,650
	12,600	Weatherford International, Inc.*		696,024
	700	XTO Energy, Inc.		42,070

				21,910,773

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Financials* -- *13.9%*
	28,500	Allied Capital Corp.(a)	$	882,360
	17,900	AMBAC Financial Group, Inc.		1,560,701
	14,600	Amcore Financial, Inc.		423,254
	26,200	AmeriCredit Corp.(a)*		695,610
	21,200	BancorpSouth, Inc.		518,552
	12,400	Bear Stearns Companies, Inc.		1,736,000
	18,818	BOK Financial Corp.		1,005,258
	3,000	CIT Group, Inc.		164,490
	26,900	City National Corp.		2,046,821
	24,200	First American Financial Corp.		1,197,900
	34,200	First Horizon National Corp.(a)		1,333,800
	17,000	FirstMerit Corp.(a)		355,810
	7,372	Fulton Financial Corp.		106,304
	4,000	Genworth Financial, Inc.		137,600
	20,000	Legg Mason, Inc.		1,967,600
	13,300	M&T Bank Corp.(a)		1,421,770
	31,400	MoneyGram International, Inc.		877,630
	22,100	Nationwide Financial Services, Inc.		1,397,162
	62,250	Old Republic International Corp.		1,323,435
	30,900	Protective Life Corp.		1,477,329
	6,000	T. Rowe Price Group, Inc.(a)		311,340
	32,800	TCF Financial Corp.		911,840
	26,700	Torchmark Corp.		1,788,900
	21,000	Wilmington Trust Corp.		871,710

				24,513,176

*Health Care* -- *12.0%*
	50,000	AmerisourceBergen Corp.		2,473,500
	26,100	Barr Laboratories, Inc.*		1,311,003
	8,300	Cephalon, Inc.(a)*		667,237
	38,775	Coventry Health Care, Inc.*		2,235,379
	8,000	Dentsply International, Inc.		306,080
	27,800	Invitrogen Corp.*		2,050,250
	29,800	Lincare Holdings, Inc.*		1,187,530
	76,300	Mylan Laboratories, Inc.		1,387,897
	24,900	Omnicare, Inc.(a)		897,894
	22,200	Owens & Minor, Inc.		775,668
	36,000	Pediatrix Medical Group, Inc.*		1,985,400
	50,000	Respironics, Inc.*		2,129,500
	73,156	Thermo Fisher Scientific, Inc.*		3,783,628

				21,190,966

*Industrials* -- *17.6%*
	9,600	Alliant Techsystems, Inc.*		951,840
	10,000	Chaparral Steel Co.		718,700
	47,200	Cooper Industries Ltd., Class A		2,694,648
	27,000	Eastman Chemical Co.		1,736,910
	16,000	Elbit Systems Ltd.		683,840
	3,000	G&K Services, Inc., Class A		118,530
	40,700	Griffon Corp.*		886,446
	22,000	Insituform Technologies, Inc., Class A*		479,820
	27,000	Kennametal, Inc.		2,214,810
	39,000	L-3 Communications Corp.(a)		3,798,210
	19,500	Mohawk Industries, Inc.(a)*		1,965,405
	6,000	Oshkosh Truck Corp.		377,520
*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Industrials* -- *(Continued)*
	28,800	Pall Corp.	$	1,324,512
	15,600	Parker Hannifin Corp.		1,527,396
	32,800	Precision Castparts Corp.		3,980,608
	7,000	R.R. Donnelley & Sons Co.		304,570
	3,000	Rockwell International Corp.(a)		208,320
	21,000	Ryder System, Inc.		1,129,800
	16,000	Stericycle, Inc.(a)*		711,360
	21,500	Teleflex, Inc.		1,758,270
	10,000	Textron, Inc.		1,101,100
	16,600	Thomas & Betts Corp.*		962,800
	40,000	Wyndham Worldwide Corp.*		1,450,400

				31,085,815

*Materials* -- *7.1%*
	41,400	Albemarle Corp.		1,595,142
	44,400	AptarGroup, Inc.		1,578,864
	6,000	Ball Corp.(a)		319,020
	6,200	Bemis Co.		205,716
	8,000	Cymer, Inc.*		321,600
	27,700	Cytec Industries, Inc.		1,766,429
	1,089	Eagle Materials, Inc.(a)		53,415
	13,500	FMC Corp.		1,206,765
	18,800	Lubrizol Corp.		1,213,540
	3,000	Minerals Technologies, Inc.		200,850
	18,300	Pactiv Corp.*		583,587
	20,000	Quanex Corp.		974,000
	6,000	Schnitzer Steel Industries, Inc.		287,640
	5,000	Texas Industries, Inc.		392,050
	10,000	The Scotts Co.		429,400
	43,400	Trimble Navigation Ltd.*		1,397,480

				12,525,498

*Real Estate Investment Trusts* -- *0.0%*
	3,673	Host Hotels & Resorts, Inc.		84,920

				84,920

*Technology* -- *13.1%*
	125,333	Activision, Inc.*		2,339,967
	11,000	Amdocs, Ltd.*		438,020
	40,800	Arris Group, Inc.(a)*		717,672
	15,100	Avocent Corp.*		438,051
	8,925	Benchmark Electronics, Inc.*		201,884
	6,000	Cognos, Inc.*		238,020
	13,100	Coherent, Inc.*		399,681
	4,600	Electronic Arts, Inc.*		217,672
	13,596	Fidelity National Information Services, Inc.		737,991
	3,000	Fiserv, Inc.*		170,400
	13,600	FLIR Systems, Inc.(a)*		629,000
	40,000	Forrester Research, Inc.*		1,125,200
	3,000	Genzyme Corp.*		193,200
	33,000	Harris Corp.(a)		1,800,150
	24,400	Imation Corp.		899,384
	35,400	Integrated Device Technology, Inc.*		540,558
	12,400	International Rectifier Corp.*		462,024
	12,000	Intersil Corp., Class A		377,520
	10,000	Intuit, Inc.*		300,800
*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Technology* -- *(Continued)*
	13,000	Jabil Circuit, Inc.	$	286,910
	29,000	JDA Software Group, Inc.*		569,270
	7,000	Kla-Tencor Corp.		384,650
	21,000	LAM Research Corp.(a)*		1,079,400
	11,000	MEMC Electronic Materials, Inc.*		672,320
	3,000	Microchip Technology, Inc.		111,120
	25,000	Micron Technology, Inc.(a)*		313,250
	11,000	Molex, Inc.		330,110
	30,800	NCR Corp.*		1,618,232
	6,000	NVIDIA Corp.*		247,860
	50,000	ON Semiconductor Corp.*		536,000
	17,200	Progress Software Corp.*		546,788
	37,300	Sandisk Corp.(a)*		1,825,462
	32,000	Sybase, Inc.*		764,480
	14,000	Symmetricom, Inc.*		117,600
	7,500	THQ, Inc.*		228,900
	29,250	Varian Semiconductor Equipment Associates, Inc.*		1,171,755

				23,031,301

*Telecommunications* -- *0.8%*
	12,000	CenturyTel, Inc.		588,600
	50,000	Sycamore Networks, Inc.*		201,000
	9,000	Telus Corp.		530,280

				1,319,880

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Utilities* -- *5.3%*
	12,000	AGL Resources, Inc.	$	485,760
	9,766	Allete, Inc.		459,490
	15,500	Atmos Energy Corp.		465,930
	8,000	Constellation Energy Group		697,360
	34,800	Energy East Corp.		907,932
	9,000	KeySpan Corp.		377,820
	60,750	MDU Resources Group, Inc.		1,703,430
	9,500	New Jersey Resources Corp.		484,690
	71,000	Questar Corp.		3,752,350
				9,334,762

*Total Common Stocks* *(Cost $91,993,918)*				*170,975,924*

*Short-Term Securities Held As Collateral For* *Securities Lending* -- *14.9%*
		Pool of various securities for the Huntington Funds		26,309,205

*Total Short-Term Securities Held As Collateral For* *Securities Lending* *(Cost $26,309,205)*				*26,309,205*

*Cash Equivalents* -- *2.5%*
	4,508,016	Huntington Money Market Fund, Interfund Shares, 4.710%(b)(c)		4,508,016

*Total Cash Equivalents* *(Cost $4,508,016)*				*4,508,016*

*Total Investments* *(Cost $122,811,139)* -- *114.4%*				*201,793,145*

*Liabilities in* Excess of Other Assets -- *(14.4)%*				*(25,466,456)*

*Net Assets* -- *100.0%*			$	*176,326,689*

(a) All or part of the security was on loan as of June 30, 2007.

(b) Investment in affiliate.

(c) Rate disclosed is the seven day yield as of June 30, 2007.

* Non-income producing security

ADR -- American Depositary Receipt

Huntington New Economy Fund

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
Technology	16.4%
Other Investments (Collateral for Securities Lending)	15.4%
Industrials	13.9%
Financials	11.1%
Health Care	10.7%
Consumer Staples	10.7%
Consumer Discretionary	9.5%
Energy	6.1%
Materials	5.9%
Real Estate Investment Trusts	4.6%
Utilities	4.2%
Telecommunications	3.8%
Cash¹	3.1%
Liabilities in Excess of Other Assets	(15.4)%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Cash is comprised of investments in an affiliated money market fund.

Portfolio of Investments (unaudited)

*Shares*				*Value*
*Common Stocks* -- *96.9%*
*Consumer Discretionary* -- *9.5%*
	48,849	American Eagle Outfitters, Inc.(a)	$	1,253,465
	33,600	Brown Shoe Co., Inc.		817,152
	57,200	Carmax, Inc.*		1,458,600
	37,600	Guess ?, Inc.(a)		1,806,304
	11,300	J.C. Penney Co., Inc.		817,894
	30,700	Priceline.com, Inc.(a)*		2,110,318
	4,200	Sears Holdings Corp.*		711,900
	44,400	Skechers USA, Inc.*		1,296,480
	96,000	Volvo AB		1,909,440
	7,000	YUM! Brands, Inc.		229,040

				12,410,593

*Consumer Staples* -- *10.7%*
	56,300	Church & Dwight Co., Inc.(a)		2,728,298
	22,000	Molson Coors Brewing Co., Class B		2,034,120
	51,000	NBTY, Inc.*		2,203,200
	15,300	Ralcorp Holding, Inc.*		817,785
	27,640	Reynolds American, Inc.		1,802,128
	825	Seaboard Corp.		1,934,625
	70,500	Spartan Stores, Inc.		2,320,155

				13,840,311

*Energy* -- *6.1%*
	24,500	Energy Transfer Partners LP(a)		1,512,385
	12,400	Grand Prideco, Inc.*		667,492
	20,600	Holly Corp.		1,528,314
	29,100	Plains All American Pipeline LP		1,852,215
	57,200	The Williams Companies, Inc.		1,808,664
	9,554	XTO Energy, Inc.		574,195

				7,943,265

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Financials* -- *11.1%*
	2,250	Advanta Corp. Class A	$	63,923
	14,400	Assurant, Inc.(a)		848,448
	18,900	Brookfield Asset Management, Inc.(a)		754,110
	12,610	Cash America International, Inc.		499,986
	34,100	CB Richard Ellis Group, Inc.*		1,244,650
	53,700	Credicorp Ltd.		3,284,829
	22,000	Eaton Vance Corp.		971,960
	21,150	First Marblehead Corp.(a)		817,217
	15,900	Franklin Resources, Inc.		2,106,273
	13,800	Philadelphia Consolidated Holdings Corp.*		576,840
	7,300	Shinhan Financial Group Co., Ltd. ADR		894,177
	7,560	Sovereign Bancorp(a)		159,818
	48,800	Willis Group Holdings Ltd.		2,150,128

				14,372,359

*Health Care* -- *10.7%*
	13,200	Aetna, Inc.		652,080
	6,100	Becton, Dickinson & Co.		454,450
	59,900	HLTH Corp.*		839,199
	14,300	Humana, Inc.*		871,013
	46,600	inVentiv Health, Inc.*		1,706,026
	17,000	Inverness Medical Innovations, Inc.*		867,340
	10,300	Laboratory Corporation of America Holdings*		806,078
	31,000	Pediatrix Medical Group, Inc.*		1,709,650
	27,400	Stryker Corp.		1,728,666
*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Health Care* -- *(Continued)*
	12,700	Thermo Fisher Scientific, Inc.*	$	656,844
	21,500	Wellcare Group, Inc.*		1,945,965
	20,000	Zimmer Holdings, Inc.*		1,697,800

				13,935,111

*Industrials* -- *13.9%*
	13,230	Ameron International Corp.		1,193,214
	25,900	Belden CDT, Inc.		1,433,565
	11,800	Canadian Pacific Railway Ltd.		812,076
	30,200	General Cable Corp.(a)*		2,287,650
	15,100	Genlyte Group, Inc.*		1,185,954
	4,000	L-3 Communications Corp.(a)		389,560
	17,000	Laidlaw International, Inc.		587,350
	25,800	Loews Corp-Carolina Group		1,993,566
	20,400	Manitowoc Co.		1,639,752
	21,848	PACCAR, Inc.		1,901,650
	10,400	Precision Castparts Corp.		1,262,144
	22,100	Terex Corp.*		1,796,730
	31,200	Watson Wyatt Worldwide, Inc.		1,574,976

				18,058,187

*Materials* -- *5.9%*
	5,360	Freeport-McMoran Copper & Gold, Inc.		443,915
	29,900	Methanex Corp.(a)		751,686
	16,800	Nucor Corp.		985,320
	33,300	RPM International, Inc.		769,563
	9,600	RTI International Metals, Inc.*		723,552
	15,700	Silgan Holdings, Inc.		867,896
	11,800	Southern Copper Corp.(a)		1,112,268
	21,700	Syngenta AG ADR		844,781
	11,300	United States Steel Corp.		1,228,875

				7,727,856

*Real Estate Investment Trusts* -- *4.6%*
	25,200	American Real Estate Partners LP(a)		2,563,848
	9,600	CBL & Associates Properties, Inc.		346,080
	52,600	Digital Reality Trust, Inc.		1,981,968
	33,597	Host Hotels & Resorts, Inc.(a)		776,763
	7,700	Ventas, Inc.(a)		279,125

				5,947,784

*Technology* -- *16.4%*
	38,900	Accenture Ltd.		1,668,421
	49,000	Advanced Energy Industries, Inc.*		1,110,340
	25,200	Anixter International, Inc.*		1,895,292
	58,600	Arris Group, Inc.(a)*		1,030,774
	118,220	ASE Test Ltd.*		1,663,355
	26,000	Avnet, Inc.*		1,030,640
	48,400	BMC Software, Inc.*		1,466,520
	100,000	CGI Group, Inc. Class A*		1,122,000
	2,763	Fidelity National Information Services, Inc.		149,976
*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Technology* -- *(Continued)*
	30,300	InterDigital Communications Corp.*	$	974,751
	58,200	McAfee, Inc.*		2,048,640
	75,400	Mentor Graphics Corp.*		993,018
	19,600	Mettler Toledo International, Inc.*		1,871,996
	12,200	NCR Corp.*		640,988
	36,800	NVIDIA Corp.*		1,520,208
	52,000	Varian Semiconductor Equipment Associates, Inc.*		2,083,120

				21,270,039

*Telecommunications* -- *3.8%*
	26,097	American Tower Corp., Class A*		1,096,074
	61,500	Premiere Global Services, Inc.*		800,730
	180,390	Qwest Communications International, Inc.(a)*		1,749,783
	22,000	SBA Communications Corp.*		738,980
	25,050	Time Warner Telecom, Inc., Class A*		503,505

				4,889,072

*Utilities* -- *4.2%*
	29,200	AES Corp.*		638,896
	17,000	Allegheny Energy, Inc.*		879,580
	17,400	FirstEnergy Corp.		1,126,302
	35,600	NRG Energy, Inc.*		1,479,892
	25,599	ONEOK, Inc.		1,290,446

				5,415,116

*Total Common Stocks* *(Cost $98,845,022)*				*125,809,693*

*Cash Equivalents* -- *3.1%*
	3,943,888	Huntington Money Market Fund, Interfund Shares, 4.710%(b)(c)		3,943,888

*Total Cash Equivalents* *(Cost $3,943,888)*				*3,943,888*

*Short-Term Securities Held As Collateral For* *Securities Lending* -- *15.4%*
		Pool of various securities for the Huntington Funds		19,979,767

*Total Short-Term Securities Held As Collateral* *For Securities Lending* *(Cost $19,979,767)*				*19,979,767*

*Total Investments* *(Cost $122,768,677)* -- *115.4%*				*149,733,348*

*Liabilities in* Excess of Other Assets -- *(15.4)%*				*(19,932,219)*

*Net Assets* -- *100.0%*			$	*129,801,129*

(a) All or part of the security was on loan as of June 30, 2007.

(b) Investment in affiliate.

* Non-income producing security

ADR -- American Depositary Receipt

Huntington Real Strategies Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
U.S. Government Agencies	34.7%
Industrials	17.0%
Energy	13.6%
Materials	12.2%
Exchange Traded Funds	9.9%
Consumer Discretionary	5.1%
Cash¹	2.2%
Utilities	1.8%
Consumer Staples	1.4%
Real Estate Investment Trusts	1.3%
Health Care	1.1%
Liabilities in Excess of Other Assets	(0.3)%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Cash is comprised of investments in an affiliated money market fund.

Portfolio of Investments (unaudited)

*Shares*				*Value*
*Common Stocks* -- *53.5%*
*Consumer Discretionary* -- *5.1%*
	3,300	Cummins Engine, Inc.	$	333,993
	12,600	The St. Joe Co.		583,884
	14,000	Volvo AB		278,460

				1,196,337

*Consumer Staples* -- *1.4%*
	7,000	Corn Products International, Inc.		318,150

				318,150

*Energy* -- *13.6%*
	4,400	Anadarko Petroleum Corp.		228,756
	5,000	Candian Natural Resourecs Ltd. ADR		331,750
	3,000	Chevron Texaco Corp.		252,720
	3,500	ConocoPhillips		274,750
	25,000	Denison Mines Corp*		298,750
	5,000	EnCana Corp.		307,250
	18,500	Energy Metals Corp*		269,360
	4,000	National-Oilwell Varco, Inc.*		416,960
	8,000	Norsk Hydro ASA ADR		306,160
	6,600	North European Oil Royalty Trust		260,172
	6,400	Superior Energy Services, Inc.*		255,488

				3,202,116

*Health Care* -- *1.1%*
	10,000	Air Liquide SA ADR		261,500

				261,500

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Industrials* -- *17.0%*
	7,000	AGCO Corp.*	$	303,870
	15,000	Atlas Copco AB ADR		252,000
	8,000	Chicago Bridge And Iron Co. ADR		301,920
	7,500	Cia Vale do Rio Doce ADR		334,125
	3,000	Deere & Co.		362,220
	6,000	Harsco Corp.		312,000
	22,000	Highveld Steel & Vanadium Corp. Ltd.		286,440
	3,000	Kennametal, Inc.		246,090
	5,000	Metso Corp. ADR		294,700
	4,500	Potash Corp. of Saskatchewan, Inc.		350,865
	5,500	Robbins & Myers, Inc.		292,215
	4,200	Tidewater, Inc.		297,696
	3,500	TransOcean, Inc.*		370,930

				4,005,071

*Materials* -- *12.2%*
	8,700	Anglo American Corp.		255,258
	12,000	Barrick Gold Corp.		348,840
	3,000	BASF AG, ADR		392,130
	3,500	Ceradyne, Inc.*		258,860
	5,000	Enbridge Energy Partners LP		277,750
	1,000	Rio Tinto PLC ADR		306,120
	4,000	Southern Copper Corp.		377,040
	7,000	The Dow Chemical Co.		309,540
	16,000	USEC, Inc.*		351,680

				2,877,218

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Real Estate Investment Trusts* -- *1.3%*
	7,500	Plum Creek Timber Co., Inc.	$	312,450

				312,450

*Utilities* -- *1.8%*
	8,000	Questar Corp.		422,800

				422,800

*Total Common Stocks* *(Cost $12,140,962)*				*12,595,642*

*Mutual Funds* -- *9.9%*
*Exchange Traded Funds* -- *9.9%*
	7,500	iShares COMEX Gold Trust		482,250
	9,000	iShares MSCI Australia Index Fund		255,780
	4,500	iShares MSCI Brazil Index Fund		275,445
	2,000	iShares MSCI South Africa Index Fund		250,160
	4,000	iShares Silver Trust		494,600
	1,500	Oil Service HOLDRs Trust		262,275
	12,000	PowerShares DB US Dollar Index Bearish Fund		311,640

*Total Mutual Funds* *(Cost $2,368,805)*				*2,332,150*

*Principal* *Amount* *or Shares*				*Value*
*U.S. Government Agencies* -- *34.7%*
*Federal Home Loan Bank* -- *13.6%*
$	3,200,000	4.870%(a), 7/2/07	$	3,199,573
	5,000,000	5.110%(a), 7/23/07		4,983,677

*Total U.S. Government Agencies* *(Cost $8,183,960)*				*8,183,250*

*Cash Equivalents* -- *2.2%*
	509,474	Huntington Money Market Fund, Interfund Shares, 4.710%(b)(c)		509,474

*Total Cash Equivalents* *(Cost $509,474)*				*509,474*

*Total Investments* *(Cost $23,203,201)* -- *100.3%*				*23,620,516*

*Liabilities in* Excess of Other Assets -- *(0.3)%*				*(77,091)*

*Net Assets* -- *100.0%*				*23,543,425*

(a) Rate represents the effective yield at purchase.

(b) Investment in affiliate.

(c) Rate disclosed is the seven day yield as of June 30, 2007.

* Non-income producing security

ADR -- American Depositary Receipt
COMEX -- formerly known as the Commodity Exchange,
now New York Mercantile Exchange
DB -- Deutsche Bank
HOLDRs -- Holding Company Depositary Receipts
MSCI -- Morgan Stanley Capital International

Huntington Rotating Markets Fund

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
United States of America	40.2%
Europe	31.3%
Emerging Markets	16.4%
Asia	6.8%
Canada	3.2%
Cash¹	2.0%
Other Assets in Excess of Liabilities	0.1%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Cash is comprised of investments in an affiliated money market fund.

Portfolio of Investments (unaudited)

*Shares*				*Value*
*Mutual Funds* -- *97.9%*
*Exchange Traded Funds* -- *97.9%*
	9,130	DIAMONDS Trust Series I	$	1,224,789
	8,238	iShares Dow Jones Select Dividend Index Fund		592,065
	48,100	iShares Dow Jones U.S. Telecommunications Sector Index Fund		1,621,451
	76,620	iShares EAFE Index Fund		6,177,871
	39,300	iShares MSCI Belgium Index Fund		1,086,252
	15,904	iShares MSCI Brazil Index Fund		973,484
	62,581	iShares MSCI Canada Index Fund		1,868,669
	26,805	iShares MSCI Emerging Markets Index Fund		3,521,373
	66,306	iShares MSCI EMU Index Fund		7,806,868
	65,200	iShares MSCI Germany Index Fund		2,158,120
	74,586	iShares MSCI Hong Kong Index Fund		1,275,421
	25,783	iShares MSCI Italy Index Fund		900,342
	24,800	iShares MSCI Mexico Index Fund		1,531,648
	4,900	iShares MSCI Pacific ex-Japan Index Fund		717,360
	42,593	iShares MSCI South Korea Index Fund		2,561,543
	15,900	iShares MSCI Sweden Index Fund		571,923
	62,513	iShares Russell 1000 Index Fund		5,104,186
	11,800	iShares Russell 1000 Value Fund		1,023,532
	14,134	iShares Russell 3000 Value Index Fund		1,592,902
	23,460	iShares Russell Midcap Value Index Fund		3,694,012
*Shares*				*Value*
*Mutual Funds* -- *(Continued)*
*Exchange Traded Funds* -- *(Continued)*
	8,635	iShares S&P Europe 350 Index Fund	$	1,010,122
	8,600	iShares S&P Global 100 Index Fund		690,752
	17,016	iShares S&P Small Cap 600 Index Fund		1,209,667
	27,344	MidCap SPDR Trust Series 1 Index Fund		4,451,877
	48,400	Rydex S&P Equal Weight Index Fund		2,476,144
	7,173	S&P Depositary Receipt		1,078,102

*Total Mutual Funds* *(Cost $42,635,994)*				*56,920,475*

*Cash Equivalents* -- *2.0%*
	1,165,420	Huntington Money Market Fund, Interfund Shares, 4.710%(a)(b)		1,165,420

*Total Cash Equivalents* *(Cost $1,165,420)*				*1,165,420*

*Total Investments* *(Cost $43,801,414)* -- *99.9%*				*58,085,895*

*Other* Assets in Excess of Liabilities -- *0.1%*				*49,392*

*Net Assets* -- *100.0%*			$	*58,135,287*

(a) Investment in affiliate.

(b) Rate disclosed is the seven day yield as of June 30, 2007.

EAFE -- Europe, Australasia, Far East
EMU -- European Monetary Union
MSCI -- Morgan Stanley Capital International
S&P -- Standard & Poor’s
SPDR -- Standard & Poor’s Depositary Receipt

Huntington Situs Small Cap Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
Industrials	18.5%
Other Investments (Collateral for Securities Lending)	16.1%
Consumer Discretionary	15.4%
Health Care	13.4%
Materials	11.9%
Energy	11.1%
Technology	10.4%
Financials	6.8%
Consumer Staples	5.1%
Real Estate Investment Trust	2.4%
Utilities	2.3%
Cash¹	1.9%
Telecommunications	0.8%
Liabilities in Excess of Other Assets	(16.1)%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Cash is comprised of investments in an affiliated money market fund.

Portfolio of Investments (unaudited)

*Shares*				*Value*
*Common Stocks* -- *98.1%*
*Chile* -- *0.3%*
*Materials* -- *0.3%*
	2,400	Sociedad Quimica Y Minera De Chile ADR	$	412,896

*Denmark* -- *1.1%*
*Energy* -- *0.5%*
	10,500	Vestas Wind Systems A/S*		695,213

				695,213

*Health Care* -- *0.6%*
	6,800	Novozymes A/S, Class B		791,618

				791,618

				1,486,831

*Finland* -- *1.3%*
*Industrials* -- *1.3%*
	13,900	Cargotec Corp., Class B		859,097
	12,700	Kone OYJ, Class B		803,665

				1,662,762

*Germany* -- *1.8%*
*Consumer Staples* -- *1.0%*
	13,200	Douglas Holding AG		862,279
	7,734	Fielmann AG		488,052

				1,350,331

*Health Care* -- *0.8%*
	15,800	Stada Arzneimittel AG		1,009,457

				1,009,457

				2,359,788

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Hong Kong* -- *0.6%*
*Consumer Discretionary* -- *0.6%*
	120,000	Television Broadcasts Ltd.	$	844,109

*Ireland* -- *0.7%*
*Consumer Staples* -- *0.7%*
	31,700	Kerry Group PLC		888,027

*Italy* -- *0.6%*
*Energy* -- *0.6%*
	22,200	Saipem SPA		761,902

*Japan* -- *1.4%*
*Consumer Discretionary* -- *0.0%(a)*
	90	Hokuto Corp.		1,637

				1,637

*Energy* -- *0.1%*
	14,000	Fuji Oil Co. Ltd.		109,398

				109,398

*Health Care* -- *0.6%*
	33,000	Tanabe Seiyaku Co. Ltd.		393,502
	10,900	Terumo Corp.		421,444

				814,946

*Industrials* -- *0.2%*
	13,600	Sato Corp.		254,082

				254,082

*Technology* -- *0.5%*
	65,000	Furuno Electric Co. Ltd.		654,171

				654,171

				1,834,234

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*Singapore* -- *0.7%*
*Consumer Staples* -- *0.7%*
	94,000	Asia Pacific Breweries Ltd.	$	915,186

*Spain* -- *0.7%*
*Technology* -- *0.7%*
	23,000	Prosegur Compania de Seguridad SA		883,358

*Sweden* -- *0.6%*
*Consumer Discretionary* -- *0.6%*
	36,000	Haldex AB		824,046

*Switzerland* -- *0.5%*
*Consumer Staples* -- *0.5%*
	22	Lindt & Spruengli AG		654,127

*United Kingdom* -- *1.0%*
*Consumer Staples* -- *0.3%*
	31,188	Bunzl PLC		435,541

				435,541

*Technology* -- *0.7%*
	179,000	Halma PLC		865,294

				865,294

				1,300,835

*United States* -- *86.8%*
*Consumer Discretionary* -- *14.2%*
	40,000	AnnTaylor Stores Corp.*		1,416,800
	49,900	Audiovox Corp., Class A*		647,203
	54,050	Brunswick Corp.(b)		1,763,651
	30,000	Cabela’s Inc., Class A*		663,900
	10,500	Columbia Sportswear Co.		721,140
	20,000	Ennis, Inc.		470,400
	17,050	Fossil, Inc.*		502,805
	40,000	Gander Mountain Co.(b)*		454,000
	30,000	Garmin Ltd.(b)		2,219,100
	10,000	Hilb, Rogal & Hobbs Co.		428,600
	30,000	Jakks Pacific, Inc.*		844,200
	5,362	MDC Holdings, Inc.		259,306
	25,000	Movado Group, Inc.		843,500
	14,200	Polo Ralph Lauren Corp.		1,393,162
	23,850	RENT-A-CENTER, Inc.*		625,586
	67,000	ScanSource, Inc.*		2,143,330
	15,000	Skechers USA, Inc.*		438,000
	28,000	Speedway Motorsports, Inc.		1,119,440
	7,200	Thor Industries, Inc.		325,008
	45,600	Urban Outfitters, Inc.(b)*		1,095,768
	21,900	West Marine, Inc.*		301,344

				18,676,243

*Consumer Staples* -- *1.9%*
	47,977	Fresh Del Monte Produce, Inc.		1,201,824
	40,500	Performance Food Group Co.*		1,315,845

				2,517,669

*Energy* -- *9.9%*
	15,000	Alliance Resource Partners		628,500
	12,000	Atwood Oceanics, Inc.*		823,440
	21,700	CARBO Ceramics, Inc.		950,677
*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*United States* -- *(Continued)*
*Energy* -- *(Continued)*
	75,200	Denbury Resources, Inc.*	$	2,820,000
	29,200	Dril-Quip, Inc.(b)*		1,312,540
	55,000	Headwaters, Inc.(b)*		949,850
	11,336	Helix Energy Solutions Group, Inc.*		452,420
	1,463	Hugoton Royalty Trust		36,912
	26,400	Newfield Exploration Co.*		1,202,520
	22,000	Oceaneering International, Inc.*		1,158,080
	20,000	Pacific Ethanol, Inc.(b)*		264,000
	10,000	Saint Mary Land & Exploration Co.		366,200
	7,000	Swift Energy Co.*		299,320
	15,000	TETRA Technologies, Inc.(b)*		423,000
	22,554	XTO Energy, Inc.		1,355,495

				13,042,954

*Financials* -- *6.8%*
	27,600	Arch Capital Group Ltd.*		2,002,104
	35,000	Bank of Florida Corp.*		608,300
	20,204	BB&T Corp.		821,899
	55,400	Colonial Bancgroup, Inc.		1,383,338
	37,300	Cullen/Frost Bankers, Inc.		1,994,431
	20,000	Philadelphia Consolidated Holdings Corp.*		836,000
	11,383	SCBT Financial Corp.		414,341
	13,800	WSFS Financial Corp.		902,934

				8,963,347

*Health Care* -- *11.4%*
	20,000	Advanced Medical Optics, Inc.(b)*		697,600
	80,000	Albany Molecular Research*		1,188,000
	35,500	Bio-Rad Laboratories, Inc., Class A*		2,682,735
	49,600	Cerner Corp.(b)*		2,751,312
	43,700	Edwards LifeSciences Corp.(b)*		2,156,158
	35,000	Kindred Healthcare, Inc.(b)*		1,075,200
	15,000	Kinetic Concepts, Inc.(b)*		779,550
	20,000	Lincare Holdings, Inc.*		797,000
	53,100	Mentor Corp.(b)		2,160,108
	9,300	Par Pharmaceutical, Inc.*		262,539
	10,000	Viropharma, Inc.*		138,000
	3,000	Wellcare Group, Inc.*		271,530

				14,959,732

*Industrials* -- *17.0%*
	23,000	Alliant Techsystems, Inc.*		2,280,450
	20,000	American Woodmark Corp.		692,000
	40,000	Armor Holdings, Inc.*		3,474,800
	15,000	Be Aerospace, Inc.*		619,500
	16,900	CDI Corp.		544,180
	20,000	Exlservice Holdings, Inc.*		374,800
	70,000	Jacobs Engineering Group, Inc.*		4,025,700
	30,000	Overseas Shipholding Group, Inc.		2,442,000
	30,000	Precision Castparts Corp.		3,640,800
	10,000	Ryder System, Inc.		538,000
	15,000	Tidewater, Inc.(b)		1,063,200
	22,700	Timken Co.(b)		819,697
	30,000	Universal Forest Products, Inc.		1,267,800
	28,750	Werner Enterprises, Inc.(b)		579,312

				22,362,239

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*United States* -- *(Continued)*
*Materials* -- *11.6%*
	49,000	Albemarle Corp.	$	1,887,970
	45,000	Ceradyne, Inc.(b)*		3,328,200
	25,000	Commercial Metals Co.		844,250
	10,000	Deckers Outdoor Corp.*		1,009,000
	5,000	Eagle Materials, Inc.(b)		245,250
	15,850	Quanex Corp.		771,895
	30,000	RTI International Metals, Inc.*		2,261,100
	15,000	Texas Industries, Inc.		1,176,150
	33,000	The Scotts Co.		1,417,020
	70,000	Trimble Navigation Ltd.*		2,254,000

				15,194,835

*Real Estate Investment Trusts* -- *2.4%*
	8,500	Camden Property Trust		569,245
	20,800	CBL & Associates Properties, Inc.		749,840
	15,000	Colonial Properties Trust		546,750
	30,000	Equity One, Inc.		766,500
	8,000	Healthcare Realty Trust, Inc.		222,240
	20,900	HRPT Properties Trust		217,360

				3,071,935

*Technology* -- *8.5%*
	5,000	Anixter International, Inc.*		376,050
	27,000	Black Box Corp.		1,117,260
	10,000	Brocade Communications Systems, Inc.*		78,200
	33,000	Compuware Corp.*		391,380
	23,300	Hutchinson Technology, Inc.*		438,273
	39,150	Imation Corp.		1,443,069
	60,600	Methode Electronics, Inc.		948,390
	10,000	Netgear, Inc.*		362,500
	50,000	Red Hat, Inc.(b)*		1,114,000
	80,900	Standard Microsystems Corp.*		2,778,106
	13,144	Tektronix, Inc.(b)		443,478
	47,900	Transaction Systems Architects, Inc.*		1,612,314

				11,103,020

*Shares*				*Value*
*Common Stocks* -- *(Continued)*
*United States* -- *(Continued)*
*Telecommunications* -- *0.8%*
	10,000	CommScope, Inc.(b)*	$	583,500
	39,000	General Communication, Inc., Class A*		499,590

				1,083,090

*Utilities* -- *2.3%*
	5,000	AGL Resources, Inc.		202,400
	29,900	Hawaiian Electric Industries, Inc.(b)		708,331
	10,100	Northwest Natural Gas Co.		466,519
	60,500	UGI Corp.		1,650,440

				3,027,690

				114,002,754

*Total Common Stocks* *(Cost $92,777,623)*				*128,830,855*

*Cash Equivalents* -- *1.9%*
	2,483,829	Huntington Money Market Fund, Interfund Shares, 4.710%(c)(d)		2,483,829

*Total Cash Equivalents* *(Cost $2,483,829)*				*2,483,829*

*Short-Term Securities Held As Collateral For* *Securities Lending* -- *16.1%*
		Pool of various securities for the Huntington Funds		21,159,871

*Total Short-Term Securities Held As Collateral* *For Securities Lending* *(Cost $21,159,871)*				*21,159,871*

*Total Investments* *(Cost $116,421,323)* -- *116.1%*				*152,474,555*

*Liabilities in* Excess of Other Assets -- *(16.1)%*				*(21,128,579)*

*Net Assets* -- *100.0%*			$	*131,345,976*

(a) Amount rounds to less than 0.05%.

(b) All or part of the security was on loan as of June 30, 2007.

(c) Investment in affiliate.

(d) Rate disclosed is the seven day yield as of June 30, 2007.

* Non-income producing security

ADR -- American Depositary Receipt
SPA -- Sales and Purchase Agreement

Huntington Fixed Income Securities Fund

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
Corporate Bonds	38.0%
U.S. Government Agencies	32.0%
U.S. Treasury Obligations	23.4%
Other Investments (Collateral for Securities Lending)	13.4%
Preferred Stocks	2.2%
Certificates of Deposit	1.7%
Cash¹	1.1%
U.S. Government Mortgage Backed Agencies	0.6%
Liabilities in Excess of Other Assets	(12.4)%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Cash is comprised of investments in an affiliated money market fund.

Portfolio of Investments (unaudited)

*Principal* *Amount*				*Value*
*U.S. Government Agencies* -- *32.0%*
*Federal Farm Credit Bank* -- *2.2%*
$	2,000,000	3.625%, 7/28/08	$	1,965,788
	2,000,000	5.430%, 10/24/12		1,978,008

				3,943,796

*Federal Home Loan Bank* -- *17.3%*
	1,000,000	5.100%, 3/6/08		998,181
	3,000,000	5.500%, 5/1/09		2,999,304
	7,000,000	5.000%, 12/11/09		6,969,928
	3,000,000	5.000%, 9/9/11		2,970,585
	3,000,000	4.375%, 6/8/12		2,880,879
	3,000,000	5.375%, 6/14/13		3,002,712
	5,000,000	4.750%, 9/11/15		4,758,730
	6,500,000	4.750%, 12/16/16		6,162,787

				30,743,106

*Federal Home Loan Mortgage* *Corporation* -- *11.4%*
	2,000,000	5.125%, 4/18/08		1,996,584
	2,000,000	3.640%, 8/12/08		1,964,964
	1,500,000	4.125%, 11/18/09		1,464,366
	3,000,000	5.000%, 11/1/10		2,975,283
	4,000,000	6.480%, 12/5/11		4,189,732
	3,000,000	5.750%, 1/15/12		3,057,789
	900,000	4.500%, 7/16/13		856,104
	3,000,000	5.500%, 3/28/16		2,954,487
	1,000,000	5.200%, 3/5/19		960,996

				20,420,305

*Federal National Mortgage Association* -- *1.1%*
	2,000,000	5.800%, 7/16/13		1,989,212

				1,989,212

*Total U.S. Government Agencies* *(Cost $57,807,951)*				*57,096,419*

*Principal* *Amount*				*Value*
*Corporate Bonds* -- *38.0%*
*Consumer Discretionary* -- *5.6%*
$	1,000,000	American International Group, 6.250%, 5/1/36	$	1,009,258
	2,000,000	Cintas Corp., 6.150%, 8/15/36		1,947,050
	1,000,000	E.W. Scripps Co., 6.625%, 10/15/07		1,000,868
	1,500,000	Hanson PLC, 7.875%, 9/27/10		1,601,121
	2,500,000	Tandy Corp., 6.950%, 9/1/07		2,502,705
	2,000,000	Union Pacific Corp., 5.650%, 5/1/17		1,944,014

				10,005,016

*Consumer Staples* -- *1.1%*
	2,000,000	Kraft Foods, Inc., 5.250%, 10/1/13		1,923,142

				1,923,142

*Energy* -- *1.5%*
	2,500,000	Bay State Gas Co., 9.200%, 6/6/11		2,782,493

				2,782,493

*Financials* -- *15.8%*
	2,000,000	American General Finance Corp., 4.625%, 5/15/09		1,972,388
	1,000,000	First Tennessee Bank, 6.400%, 4/1/08		1,006,531
	2,000,000	General Electric Capital Corp., 4.875%, 10/21/10		1,964,514
	2,000,000	General Electric Global Insurance Holdings Corp., 7.500%, 6/15/10		2,100,942
	2,000,000	HSBC Finance Corp., 5.625%, 6/15/20		1,895,944
	1,000,000	Key Bank, 4.412%, 3/18/08		990,707
	3,000,000	Lehman Brothers Holdings, 7.000%, 2/1/08		3,022,962
	1,000,000	Lincoln National Corp., 4.750%, 2/15/14		942,936
	3,000,000	MBNA America Bank Corp. N.A., 7.125%, 11/15/12(a)		3,201,726
	1,000,000	Metlife, Inc., 5.000%, 11/24/13		961,427
	1,000,000	Metlife, Inc., 5.700%, 6/15/35		924,149
*Principal* *Amount*				*Value*
*Corporate Bonds* -- *(Continued)*
*Financials* -- *(Continued)*
$	1,000,000	Morgan Stanley Dean Witter & Co., 6.750%, 10/15/13	$	1,054,537
	1,180,000	Protective Life Insurance Trust, 4.000%, 10/7/09		1,144,620
	2,050,000	RenaissanceRe Holdings Ltd., 5.875%, 2/15/13		2,034,426
	1,000,000	SunAmerica, Inc., 6.750%, 10/1/07		1,003,076
	3,000,000	Wachovia Corp., 5.300%, 10/15/11		2,968,941
	1,000,000	Washington Mutual Bank, 5.950%, 5/20/13		998,344

				28,188,170

*Health Care* -- *3.8%*
	2,500,000	Genentech, Inc., 4.750%, 7/15/15		2,336,415
	2,000,000	Nationwide Financial Services, 6.250%, 11/15/11		2,045,902
	2,500,000	Wellpoint, Inc., 4.250%, 12/15/09		2,421,642

				6,803,959

*Industrials* -- *3.0%*
	1,000,000	Cooper Industries, Inc., 5.250%, 7/1/07		1,000,000
	2,000,000	Oracle Corp., 5.250%, 1/15/16		1,917,694
	2,460,000	Thermo Fisher Scientific, Inc., 7.625%, 10/30/08		2,512,979

				5,430,673

*Real Estate Investment Trusts* -- *3.7%*
	1,045,000	Avalon Properties, 6.875%, 12/15/07		1,051,429
	1,500,000	CPG Partners LP, 3.500%, 3/15/09		1,450,801
	2,000,000	Duke Realty LP, 3.500%, 11/1/07		1,986,916
	1,000,000	MACK-CALI Realty LP, 7.750%, 2/15/11		1,063,937
	1,000,000	Weingarten Realty Investments, 7.350%, 7/20/09		1,037,119

				6,590,202

*Telecommunications* -- *0.3%*
	474,000	Alltel Ohio LP, 8.000%, 8/15/10(a)		479,848

				479,848

*Utilities* -- *3.2%*
	1,000,000	Atlantic City Electric Co., 6.750%, 5/12/08		1,008,177
	1,000,000	Cincinnati Gas & Electric Co., 6.400%, 4/1/08		1,006,034
	1,000,000	Cinergy Global Resources, 6.200%, 11/3/08(a)		1,008,879
	1,000,000	CLECO Corp., 6.520%, 5/15/09		1,015,627
	1,800,000	Gulf Power Co., 4.900%, 10/1/14		1,703,651
				5,742,368

*Total Corporate Bonds* *(Cost $68,657,795)*				*67,945,871*

*Shares or* *Principal* *Amount*				*Value*
*U.S. Treasury Obligations* -- *23.4%*
*U.S. Treasury Bonds* -- *15.6%*
$	3,500,000	7.250%, 5/15/16(b)	$	4,044,961
	4,500,000	9.125%, 5/15/18(b)		5,988,514
	3,000,000	8.750%, 8/15/20		4,006,407
	2,000,000	7.125%, 2/15/23		2,400,938
	2,000,000	7.625%, 2/15/25(b)		2,546,876
	4,000,000	6.750%, 8/15/26		4,732,500
	1,500,000	5.250%, 11/15/28		1,510,313
	2,500,000	5.375%, 2/15/31(b)		2,567,188

				27,797,697

*U.S. Treasury Notes* -- *7.8%*
	3,000,000	4.250%, 8/15/13(b)		2,896,641
	3,000,000	2.000%, 7/15/14		3,157,663
	3,000,000	4.625%, 2/15/17(b)		2,905,314
	4,500,000	6.125%, 8/15/29		5,047,735
				14,007,353

*Total U.S. Treasury Obligations* *(Cost $41,597,981)*				*41,805,050*

*Preferred Stocks* -- *2.2%*
*Consumer Discretionary* -- *0.1%*
	10,000	Comcast Corp., 7.000%(b)		253,300

				253,300

*Financials* -- *2.1%*
	25,000	CitiGroup Capital Trust VIII, 6.950%		626,250
	39,555	General Electric Capital Corp., 6.100%		956,044
	20,000	ING Groep NV, 6.125%		470,600
	10,000	KeyCorp Capital VIII, 7.000%		253,000
	20,000	Merrill Lynch & Co. Capital Trust III, 7.000%		500,200
	13,000	Royal Bank of Scotland Group PLC, Series N, 6.350%(b)		314,600
	6,300	SLM Corp., 6.000%		122,850
	18,000	Wells Fargo Capital Trust II, 7.000%		452,700

				3,696,244

*Total Preferred Stocks* *(Cost $4,077,986)*				*3,949,544*

*Certificates of Deposit* -- *1.7%*
*Financials* -- *1.7%*
$	3,000,000	Royal Bank of Canada NY, 5.290%, 2/2/09		2,994,453

*Total Certificates of Deposit* *(Cost $3,002,288)*				*2,994,453*

*Principal* *Amount*				*Value*
*U.S. Government Mortgage Backed* *Agencies* -- *0.6%*
*Federal Home Loan Mortgage* *Corporation* -- *0.5%*
$	288,052	Pool # 599630, 6.500%, 8/1/16	$	294,368
	455,581	Pool # 254403, 6.000%, 8/1/17		458,268

				752,636

*Government National Mortgage* *Association* -- *0.1%*
	3,890	Pool # 363175, 7.000%, 11/15/08		3,922
	16,739	Pool # 383488, 7.000%, 2/15/09		17,006
	195,103	Pool # 345128, 6.500%, 1/15/24		198,965
	31,718	Pool # 372962, 7.000%, 3/15/24		33,054
	62,805	Pool # 352982, 7.500%, 5/15/24		65,765
	27,967	Pool # 373015, 8.000%, 6/15/24		29,630

				348,342

*Total U.S. Government Mortgage Backed* *Agencies* *(Cost $1,097,009)*				*1,100,978*

*Shares*				*Value*
*Cash Equivalents* -- *1.1%*
	1,950,912	Huntington Money Market Fund, Interfund Shares, 4.710%(c)(d)	$	1,950,912

*Total Cash Equivalents* *(Cost $1,950,912)*				*1,950,912*

*Short-Term Securities Held As Collateral For* *Securities Lending* -- *13.4%*
		Pool of various securities for the Huntington Funds		23,973,864

*Total Short-Term Securities Held As Collateral For* *Securities Lending* *(Cost $23,973,864)*				*23,973,864*

*Total Investments* *(Cost $202,165,785)* -- *112.4%*				*200,817,091*

*Liabilities in* Excess of Other Assets -- *(12.4)%*				*(22,115,874)*

*Net Assets* -- *100.0%*			$	*178,701,217*

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

(b) All or part of the security was on loan as of June 30, 2007.

(c) Investment in affiliate.

(d) Rate disclosed is the seven day yield as of June 30, 2007.

Huntington Intermediate Government Income Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
U.S. Government Agencies	49.1%
U.S. Government Mortgage Backed Agencies	29.4%
U.S. Treasury Obligations	10.2%
Other Investments (Collateral for Securities Lending)	5.9%
Cash¹	2.1%
Other Assets in Excess of Liabilities	3.3%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Cash is comprised of investments in an affiliated money market fund.

Portfolio of Investments (unaudited)

*Principal* *Amount*				*Value*
*U.S. Government Agencies* -- *49.1%*
*Federal Farm Credit Bank* -- *10.3%*
$	1,000,000	5.750%, 1/18/11	$	1,017,780
	1,000,000	5.375%, 7/18/11		1,004,417
	2,000,000	4.900%, 3/17/14		1,926,804
	2,000,000	4.990%, 1/28/15		1,915,652
	2,000,000	4.875%, 12/16/15		1,925,660
	2,000,000	5.650%, 3/6/17		1,959,808
	2,000,000	5.050%, 3/8/17		1,938,240

				11,688,361

*Federal Home Loan Bank* -- *13.0%*
	1,500,000	3.875%, 8/14/09		1,461,308
	1,000,000	4.000%, 7/8/11		954,249
	2,000,000	5.500%, 2/9/12		1,995,508
	3,000,000	5.375%, 6/14/13		3,002,712
	2,000,000	5.250%, 3/19/14		1,958,674
	2,000,000	4.375%, 2/13/15		1,873,436
	2,000,000	4.750%, 9/11/15		1,903,492
	2,000,000	5.500%, 10/19/16		1,965,434

				15,114,813

*Federal Home Loan Mortgage* *Corporation* -- *17.8%*
	1,000,000	3.250%, 1/28/08		988,072
	2,000,000	3.000%, 5/13/08		1,961,238
	1,000,000	5.450%, 9/2/11		996,632
	2,000,000	5.250%, 10/6/11		1,984,134
	2,000,000	5.550%, 1/9/12		1,991,102
	2,000,000	4.250%, 5/22/13		1,889,844
	1,500,000	5.162%, 12/16/13		1,469,227
	1,000,000	5.500%, 2/20/14		990,800
	2,000,000	5.450%, 1/22/16		1,980,226
	2,000,000	5.400%, 2/1/16		1,976,456
	3,500,000	5.200%, 3/5/19		3,363,486
	1,000,000	4.500%, 4/15/26		984,578

				20,575,795

*Principal* *Amount*				*Value*
*U.S. Government Agencies* -- *(Continued)*
*Federal National Mortgage Association* -- *8.0%*
$	2,000,000	3.410%, 8/30/07	$	1,993,550
	2,000,000	5.250%, 3/24/15		1,961,018
	2,500,000	5.000%, 4/26/17		2,385,482
	3,000,000	5.625%, 11/15/21		2,923,005

				9,263,055

*Total U.S. Government Agencies* *Cost $57,937,111)*				*56,642,024*

*U.S. Government Mortgage Backed* *Agencies* -- *29.4%*
*Federal Home Loan Mortgage* *Corporation* -- *14.1%*
	444,498	Pool # M80773, 5.000%, 10/1/09		442,748
	884,204	Pool # M81004, 5.000%, 1/1/13		874,528
	770,079	Series R007, Class AC, 5.875%, 5/15/16		769,292
	920,599	Series 2003-32, Class KB, 5.000%, 3/25/17		908,124
	455,174	Pool # E01184, 6.000%, 8/1/17		457,715
	985,936	Series 2555, Class B, 4.250%, 1/15/18		943,684
	1,231,324	Series 3046, Class YA, 5.000%, 2/15/19		1,207,554
	2,500,000	Series 2571, Class VP, 5.500%, 7/15/21		2,406,420
	1,215,910	Pool # C90699, 5.000%, 8/1/23		1,163,619
	1,000,000	Series 2670, Class QP, 4.000%, 2/15/27		978,003
	1,000,000	Series 2676, Class PG, 5.500%, 1/15/29		989,259
	887,521	Series 2976, Class HP, 4.500%, 1/15/33		850,077
	645,003	Pool # G08005, 5.500%, 8/1/34		624,448
	858,943	Pool # 1G0865, 4.908%, 7/1/35		838,560
	2,693,395	Pool # 972190, 5.316%, 11/1/35		2,658,753

				16,112,784

*Principal* *Amount*				*Value*
*U.S. Government Mortgage Backed* *Agencies* -- *(Continued)*
*Federal National Mortgage Association* -- *13.3%*
$	348,488	Pool # 647408, 5.000%, 10/1/17	$	338,024
	604,575	Pool # 254911, 5.000%, 10/1/23		577,204
	1,421,547	Pool # 255360, 5.000%, 8/1/24		1,355,808
	1,483,189	Pool # 255767, 5.500%, 6/1/25		1,447,456
	1,660,624	Pool # 256116, 6.000%, 2/1/26		1,657,736
	1,196,374	Series 2003-11, Class BA, 5.500%, 8/25/32		1,180,026
	1,095,280	Pool # 254594, 5.500%, 1/1/33		1,061,440
	287,854	Series 2003-16, Class CB, 4.000%, 2/25/33		267,366
	1,614,286	Pool # 783793, 6.000%, 7/1/34		1,602,446
	1,157,258	Pool # 807963, 5.000%, 1/1/35		1,088,901
	716,507	Pool # 806715, 5.500%, 1/1/35		693,711
	1,593,490	Pool # 735224, 5.500%, 2/1/35		1,543,920
	1,848,604	Pool # 868935, 5.500%, 5/1/36		1,783,823
	959,177	Pool # 907484, 6.000%, 1/1/37		948,906

				15,546,767

*Government National Mortgage* *Association* -- *2.0%*
	1,500,000	Series 2003-100, Class VB, 5.500%, 1/20/23		1,469,724
	349,846	Pool # 2699, 6.000%, 1/20/29		349,149
	451,690	Pool # 576456, 6.000%, 3/15/32		450,707

				2,269,580

*Total U.S. Government Mortgage Backed Agencies* *(Cost $34,925,816)*				*33,929,131*

*Principal* *Amount* *or Shares*				*Value*
*U.S. Treasury Obligations* -- *10.2%*
*U.S. Treasury Notes* -- *1.7%*
$	2,000,000	6.125%, 8/15/07	$	2,002,656
	2,000,000	3.375%, 11/15/08(a)		1,957,500
	1,000,000	5.000%, 8/15/11		1,004,375
	2,000,000	4.250%, 11/15/14(a)		1,908,282
	2,000,000	4.500%, 2/15/16(a)		1,927,656
	2,000,000	5.125%, 5/15/16(a)		2,011,250
	1,000,000	4.750%, 2/15/37(a)		942,891

*Total U.S. Treasury Obligations* *Cost $11,969,986)*				*11,754,610*

*Cash Equivalents* -- *2.1%*
	2,457,306	Huntington Money Market Fund, Interfund Shares, 4.710%(b)(c)		2,457,306

*Total Cash Equivalents* *(Cost $2,457,306)*				*2,457,306*

*Short-Term Securities Held As Collateral For* *Securities Lending* -- *5.9%*
		Pool of various securities for the Huntington Funds		6,835,500

*Total Short-Term Securities Held As Collateral For* *Securities Lending* *(Cost $6,835,500)*				*6,835,500*

*Total Investments* *(Cost $114,125,719)* -- *96.7%*				*111,618,571*

*Other* Assets in Excess of Liabilities -- *3.3%*				*3,824,853*

*Net Assets* -- *100.0%*			$	*115,443,424*

(a) All or part of the security was on loan as of June 30, 2007.

(b) Investment in affiliate.

(c) Rate disclosed is the seven day yield as of June 30, 2007.

Huntington Michigan Tax-Free Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
School Districts	52.5%
Medical	11.1%
Facilities	7.7%
Water	7.1%
Utilities	6.1%
General Obligations	6.0%
Power	4.1%
Higher Education	2.2%
General Fund	1.1%
Development	0.8%
Airport	0.4%
Cash	0.1%
Other Assets in Excess of Liabilities	0.8%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

Portfolio of Investments (unaudited)

*Principal* *Amount*				*Value*
*Municipal Bonds* -- *99.1%*
*Michigan* -- *99.1%*
$	475,000	Avondale, MI, School District, Building & Site, G.O., 5.250%, 5/1/18	$	504,526
	150,000	Big Rapids, MI, Public School District, G.O. (FSA Ins), 5.000%, 5/1/19		152,234
	75,000	Bishop, MI, International Airport Authority Refunding, Series A, G.O. (AMBAC Ins), 5.100%, 12/1/18		77,407
	720,000	Chippewa Valley, MI Schools, G.O. (FSA Ins), 4.500%, 5/1/21		716,292
	250,000	Chippewa Valley, MI, Schools, Building & Site, Series I, G.O., 5.375%, 5/1/18		262,420
	50,000	Dearborn, MI, School District, G.O., 5.000%, 5/1/18		52,126
	470,000	Detroit, MI, City School District, G.O. (FSA Ins), 5.000%, 5/1/22		487,517
	65,000	Detroit, MI, City School District, Series B, G.O. (FGIC Ins), 5.000%, 5/1/19		67,555
	150,000	Detroit, MI, Downtown Development Authority Tax Increment Revenue, Series A (MBIA Ins), 4.650%, 7/1/10		152,378
	1,000,000	Detroit, MI, Sewer Disposal Revenue (MBIA Ins), 5.250%, 7/1/19		1,073,960
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Michigan* -- *(Continued)*
$	500,000	Detroit, MI, Water Supply Systems Revenue, Series A (FGIC Ins), 5.000%, 7/1/13	$	524,490
	60,000	Dowagiac, MI, School District, G.O., 5.500%, 5/1/16		63,800
	30,000	Dowagiac, MI, School District, G.O., 5.500%, 5/1/16		31,927
	150,000	Eastern Michigan University, MI, Refunding Revenue (FGIC Ins), 5.800%, 6/1/12		161,982
	150,000	Ecorse, MI, Public School District, G.O. (FSA Ins), 5.000%, 5/1/19		157,005
	270,000	Ferndale, MI, Public Improvements Refunding, G.O. (FGIC Ins), 5.000%, 4/1/15		282,298
	280,000	Grand Haven, MI, Electic Refunding Revenue (MBIA Ins), 5.250%, 7/1/11		293,205
	825,000	Grand Rapids & Kent County, MI, Building Authority, Series A, G.O., 5.000%, 12/1/19		864,055
	490,000	Greenville, MI, Public Schools Refunding G.O. (FSA Ins), 4.900%, 5/1/13		493,582
	100,000	Grosse Isle Township, MI, School District Refunding G.O. (FGIC Ins), 5.100%, 5/1/18		100,875
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Michigan* -- *(Continued)*
$	300,000	Hartland, MI, Consolidated School District Refunding, G.O., 5.050%, 5/1/18	$	308,688
	500,000	Hartland, MI, Consolidated School District Refunding, G.O. (Q-SBLF Ins), 5.125%, 5/1/20		515,255
	140,000	Huron Valley, MI, School District Refunding, G.O. (FGIC Ins), 5.000%, 5/1/18		141,113
	150,000	Huron Valley, MI, School District, G.O., 5.250%, 5/1/17		158,448
	200,000	Kalamazoo, MI, City Schools District, Building & Site, G.O. (FSA Ins), 5.000%, 5/1/13		207,300
	55,000	Kalamazoo, MI, Hospital Finance Authority Refunding Revenue (MBIA Ins), 5.250%, 5/15/18		56,091
	190,000	Kelloggsville, MI, Public School District Refunding, G.O. (FGIC Ins), 5.000%, 5/1/13		191,710
	25,000	Kent County, MI, Building Authority, G.O., 4.800%, 6/1/16		25,598
	300,000	Lake Fenton, MI, Community Schools, G.O. (Q-SBLF Ins), 5.500%, 5/1/13		318,324
	600,000	Lake Orion, MI, Community School District Refunding, G.O., 5.000%, 5/1/18		620,190
	165,000	Lake Orion, MI, Community School District Refunding, G.O., 5.000%, 5/1/18		172,016
	410,000	Lake Orion, MI, Community School District Unrefunded, G.O., 4.800%, 5/1/15		422,964
	140,000	Lakeview, MI, Public School District, G.O., 5.000%, 5/1/16		145,110
	150,000	Lansing, MI, Board of Water & Light Revenue, Series A, 5.000%, 7/1/15		154,527
	350,000	Lincoln, MI, Consolidated School District Refunding, G.O. (FSA Ins), 5.000%, 5/1/20		363,279
	850,000	Michigan Municipal Bond Authority Department of Treasury, 5.250%, 10/1/18		894,378
	200,000	Michigan Municipal Building Authority, City of Detroit School District Revenue (FSA Ins), 5.000%, 6/1/15		210,798
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Michigan* -- *(Continued)*
$	500,000	Michigan Public Power Agency Refunding Revenue (MBIA Ins), 5.250%, 1/1/15	$	535,425
	50,000	Michigan State Building Authority Refunding Revenue, Series I (FSA Ins), 5.250%, 10/15/12		52,847
	600,000	Michigan State Building Authority, Facilities Program Refunding Revenue, Series I, 5.125%, 10/15/15		612,030
	100,000	Michigan State Hospital Finance Authority Refunding Revenue, Series A (AMBAC Ins), 5.500%, 1/1/16		101,846
	200,000	Michigan State Hospital Finance Authority Revenue, 5.000%, 11/1/11		207,132
	10,000	Michigan State Hospital Finance Authority Revenue (MBIA Ins), 6.000%, 5/15/14		10,446
	950,000	Michigan State Hospital Finance Authority Revenue (MBIA Ins), 5.000%, 11/15/17		991,980
	40,000	Michigan State Hospital Finance Authority Revenue (MBIA Ins), 5.000%, 2/15/18		40,574
	355,000	Michigan State Hospital Financing Authority Revenue (MBIA Ins), 5.000%, 11/15/19		368,291
	250,000	Michigan State School Improvements, G.O., 4.800%, 12/1/11		252,767
	1,000,000	Mount Clemens, MI, Community School District Refunding, G.O. (FSA Ins), 5.000%, 5/1/18		1,046,700
	10,000	Northwestern Community College, MI, Unrefunded, G.O. (FGIC Ins), 5.300%, 4/1/12		10,297
	150,000	Novi, MI, Community School District, G.O., 5.125%, 5/1/18		156,133
	150,000	Petoskey, MI, Hospital Financing Authority Refunding Revenue (MBIA Ins), 5.500%, 11/15/09		154,907
	200,000	Plymouth-Canton, MI, Community School District Refunding, G.O. (Q-SBLF Ins), 5.250%, 5/1/15		212,752
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Michigan* -- *(Continued)*
$	250,000	Portage, MI, Public Schools, G.O. (FSA Ins), 4.500%, 5/1/14	$	251,900
	90,000	Saginaw Valley State University, MI, Unrefunded Revenue (AMBAC Ins), 5.000%, 7/1/12		92,710
	65,000	South Lyon, MI, Community Schools, G.O., 4.250%, 5/1/10		65,461
	925,000	South Lyon, MI, Community Schools, G.O. (MBIA Ins), 5.250%, 5/1/18		989,398
	300,000	University of Michigan Refunding Revenue, Series A-1, 5.250%, 12/1/10		306,375
	500,000	Van Buren County, MI, Sewage Disposal, G.O. (AMBAC Ins), 5.000%, 5/1/16		513,405
	100,000	Wayne County, MI, Public Improvements, G.O., 5.300%, 10/1/13		103,514
	15,000	Wayne County, MI, Wayne Community College, G.O. (AMBAC Ins), 5.350%, 7/1/13		15,545
	170,000	Wayne State University, MI, Revenue (AMBAC Ins), 5.000%, 11/15/20		178,281
	145,000	West Ottawa, MI, Public School District, Unrefunded, G.O. (FGIC Ins), 5.400%, 5/1/09		145,741
*Principal* *Amount* *or Shares*				*Value*
*Municipal Bonds* -- *(Continued)*
*Michigan* -- *(Continued)*
$	60,000	West Ottawa, MI, Public School District, Unrefunded, G.O. (FGIC Ins), 5.600%, 5/1/11	$	60,325
	550,000	Western Ottawa, MI, Public School District Refunding, G.O., Series A, 5.375%, 5/1/13		584,276
	250,000	Whiteford, MI, Agricultural School District, G.O., 5.000%, 5/1/15		259,125
	50,000	Woodhaven-Brownstown, MI, School District, G.O., 5.125%, 5/1/14		52,397

*Total Municipal Bonds* *(Cost $19,864,188)*				*19,798,003*

*Cash Equivalents* -- *0.1%*
	10,910	Fidelity Institutional Tax- Exempt Fund, 3.570%(a)		10,910

*Total Cash Equivalents* *(Cost $10,910)*				*10,910*

*Total Investments* *(Cost $19,875,098)* -- *99.2%*				*19,808,913*

*Other* Assets in Excess of Liabilities -- *0.8%*				*163,075*

*Net Assets* -- *100.0%*			$	*19,971,988*

(a) Rate disclosed is the seven day effective yield as of June 30, 2007.

AMBAC -- American Municipal Bond Assurance Corporation
FGIC -- Financial Guaranty Insurance Company
FSA -- Financial Security Assurance
G.O. -- General Obligation
Ins -- Insured
MBIA -- Municipal Bond Insurance Association
Q-SBLF -- Qualified School Bond Loan Fund

Huntington Mortgage Securities Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
U.S. Government Mortgage Backed Agencies	82.1%
Real Estate Investment Trusts (Includes 8.3% of Common Stock and 0.3% of Preferred Stock)	8.6%
U.S. Government Agencies	3.3%
Other Investments (Collateral for Securities Lending)	2.9%
Collateralized Mortgage Obligations	2.9%
Cash¹	2.8%
Liabilities in Excess of Other Assets	(2.6)%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Cash is comprised of investments in an affiliated money market fund.

Portfolio of Investments (unaudited)

*Principal* *Amount*				*Value*
*U.S. Government Mortgage Backed* *Agencies* -- *82.1%*
*Federal Home Loan Bank* -- *0.9*%
$	800,428	Series Z2-2013, Class A, 4.800%, 2/25/13	$	806,392

*Federal Home Loan Mortgage* *Corporation* -- *32.6%*
	182,174	REMIC Series 2399, Class EC, 5.500%, 1/15/09		181,530
	407,666	Series 2548, Class HA, 4.500%, 1/15/10		402,687
	404,561	Series 1994-23, Class PK, 6.000%, 5/25/10		406,048
	529,038	Pool # M80927, 5.000%, 7/1/11		524,083
	884,204	Pool # M81004, 5.000%, 1/1/13		874,804
	1,336,640	REMIC Series 2584, Class LE, 4.000%, 12/15/13		1,270,528
	868,515	Pool # J03237, 5.500%, 8/1/16		858,903
	2,000,000	Series 2780, Class QC, 4.500%, 3/15/17		1,948,335
	1,490,746	Series 2770, Class TC, 4.000%, 1/15/18		1,424,112
	397,110	Pool # E96459, 5.000%, 5/1/18		385,305
	131,750	Pool # C90237, 6.500%, 11/1/18		135,187
	1,231,324	Series 3046, Class YA, 5.000%, 2/15/19		1,208,323
	1,000,000	Series 2541, Class VL, 5.500%, 11/15/20		977,631
	857,228	Pool # G12297, 6.000%, 7/1/21		861,201
	1,000,000	Series 2571, Class VP, 5.500%, 7/15/21		963,193
	1,000,000	REMIC Series 2543, Class PQ, 5.500%, 4/15/22		984,391
	739,000	Series 2006, Class A, 6.000%, 11/25/22		746,314
*Principal* *Amount*				*Value*
*U.S. Government Mortgage Backed* *Agencies* -- *(Continued)*
*Federal Home Loan Mortgage* *Corporation* -- *(Continued)*
$	923,005	Pool # C90779, 5.000%, 1/1/24	$	883,598
	990,928	Pool # C90859, 5.500%, 10/1/24		968,475
	1,000,000	Series 2676, Class PG, 5.500%, 1/15/29		989,884
	369,296	Pool # C00730, 6.000%, 3/1/29		368,655
	2,000,000	REMIC Series 2553, Class AE, 5.500%, 9/15/29		1,967,093
	1,000,000	Series 2802, Class MB, .500%, 11/15/31		972,499
	1,000,000	Series 2003-53, Class JL, 5.000%, 12/25/31		946,803
	887,521	Series 2976, Class HP, 4.500%, 1/15/33		850,631
	1,311,529	Pool # A15284, 5.500%, 10/1/33		1,271,204
	1,290,007	Pool # G08005, 5.500%, 8/1/34		1,249,098
	858,943	Pool # 1G0865, 4.908%, 7/1/35		838,828
	1,523,606	Series 3002, Class CA, 5.000%, 7/15/35		1,473,874
	986,991	Pool # A55565, 6.000%, 12/1/36		978,765
	935,478	Pool # G08168, 6.000%, 12/1/36		927,534

				28,839,516

*Federal National Mortgage Association* -- *41.8%*
	496,715	Pool # 254955, 4.000%, 10/1/10		481,274
	53,822	Pool # E65142, 6.500%, 7/1/11		54,997
	555,360	Pool # 254486, 5.000%, 9/1/17		538,773
	643,246	Pool # 663808, 5.000%, 11/1/17		624,033
	888,384	Pool # 684488, 5.000%, 12/1/17		861,849
	2,126,562	Series 2004-45, Class VD, 4.500%, 3/25/18		2,022,763
	1,055,178	Pool # 693256, 5.000%, 4/1/18		1,023,804
	751,965	Pool # 254720, 4.500%, 5/1/18		716,733
*Principal* *Amount*				*Value*
*U.S. Government Mortgage Backed* *Agencies* -- *(Continued)*
*Federal National Mortgage* *Association* -- *(Continued)*
$	811,855	Series 2003-38, Class TC, 5.000%, 3/25/23	$	790,539
	846,327	Pool # 254831, 5.000%, 8/1/23		808,274
	1,728,002	Pool # 254908, 5.000%, 9/1/23		1,650,308
	1,593,771	Pool # 254911, 5.000%, 10/1/23		1,522,112
	1,091,000	Series 2847, Class NC, 4.000%, 1/15/24		1,073,805
	691,793	Pool # 255320, 5.000%, 7/1/24		660,018
	2,174,592	Pool # 255711, 5.500%, 4/1/25		2,122,882
	798,271	Pool # 357771, 5.000%, 5/1/25		760,556
	2,075,780	Pool # 256116, 6.000%, 2/1/26		2,072,819
	2,000,000	Series 2004-45, Class NC, 5.500%, 11/25/28		1,988,852
	881,148	Series 1999-13, Class PH, 6.000%, 4/25/29		877,504
	1,000,000	Series 2672, Class GH, 5.500%, 8/15/31		966,264
	256,611	Pool # 602879, 6.000%, 11/1/31		255,630
	1,000,000	Series 2003-92, Class KH, 5.000%, 3/25/32		953,711
	1,856,746	Pool # 729535, 5.500%, 7/1/33		1,799,277
	236,525	Pool # 748422, 6.000%, 8/1/33		235,175
	2,013,350	Pool # 786457, 5.285%, 7/1/34		1,990,375
	1,614,286	Pool # 783793, 6.000%, 7/1/34		1,602,698
	716,507	Pool # 806715, 5.500%, 1/1/35		693,823
	494,415	Pool # 814261, 6.000%, 1/1/35		490,866
	1,593,490	Pool # 735224, 5.500%, 2/1/35		1,544,169
	631,481	Pool # 836450, 6.000%, 10/1/35		625,909
	1,664,483	Pool # 845573, 5.627%, 2/1/36		1,673,338
	1,766,482	Pool # 745418, 5.500%, 4/1/36		1,708,344
	914,266	Pool # 888029, 6.000%, 12/1/36		905,137
	959,177	Pool # 907484, 6.000%, 1/1/37		949,056

				37,045,667

*Government National Mortgage* *Association* -- *6.8%*
	3,858,918	Pool # 605653, 5.500%, 8/15/34		3,752,255
	2,328,766	Pool # 3637, 5.500%, 11/20/34		2,261,128

				6,013,383

*Total U.S. Government Mortgage Backed Agencies* *(Cost $74,653,340)*				*72,704,958*

*Shares*				*Value*
*Common Stocks* -- *8.3%*
*Real Estate Investment Trusts* -- *8.3%*
	4,700	Acadia Realty Trust	$	121,965
	3,500	Alexandria Real Estate Equities, Inc.(a)		338,870
	2,000	AMB Property Corp.		106,440
	6,000	American Campus Communities, Inc.		169,740
	1,000	Archstone-Smith Trust(a)		59,110
	2,000	Avalonbay Communities, Inc.		237,760
	3,000	Boston Properties, Inc.(a)		306,390
	7,000	Brandywine Realty Trust(a)		200,060
	2,000	Camden Property Trust		133,940
	3,000	CBL & Associates Properties, Inc.		108,150
	1,000	Cedar Shopping Centers, Inc.		14,350
	4,200	Developers Diversified Realty Corp.		221,382
	2,000	Digital Reality Trust, Inc.		75,360
	2,000	Douglas Emmett, Inc.		49,480
	5,000	Duke Realty Corp.		178,350
	4,500	EastGroup Properties, Inc.		197,190
	1,000	Equity Lifestyle Properties, Inc.		52,190
	5,000	Equity Residential Properties Trust(a)		228,150
	1,500	Essex Property Trust, Inc.		174,450
	6,000	General Growth Properties, Inc.		317,700
	800	Getty Realty Corp.		21,024
	6,000	Health Care Property Investors, Inc.		173,580
	3,500	Healthcare Realty Trust, Inc.		97,230
	4,000	Home Properties, Inc.		207,720
	5,600	Hospitality Properties Trust		232,344
	3,000	Host Hotels & Resorts, Inc.(a)		69,360
	7,600	Kimco Realty Corp.		289,332
	4,000	Mack-Cali Realty Corp.		173,960
	3,000	National Retail Properties, Inc.		65,580
	2,500	Parkway Properties, Inc.(a)		120,075
	6,000	Pennsylvania Real Estate Investment Trust		265,980
	6,386	ProLogis(a)		363,363
	3,750	Public Storage, Inc.(a)		288,075
	4,000	Realty Income Corp.(a)		100,760
	1,500	Regency Centers Corp.		105,750
	2,903	SL Green Realty Corp.(a)		359,653
	2,000	Sunstone Hotel Investors, Inc.(a)		56,780
	1,100	The Macerich Co.		90,662
	5,900	UDR, Inc.		155,170
	3,900	Ventas, Inc.(a)		141,375
	2,800	Vornado Realty Trust		307,552
	5,000	Washington Real Estate Investment Trust		170,000
	5,000	Weingarten Realty Investors		205,500

*Total Common Stocks* *(Cost $4,472,860)*				*7,351,852*

*Principal* *Amount* *or Shares*				*Value*
*U.S. Government Agencies* -- *3.3%*
*Federal Home Loan Mortgage Corporation* -- *1.1%*
$	500,000	3.650%, 1/23/08	$	495,323
	500,000	4.500%, 4/2/14		476,556

				971,879

*Federal National Mortgage Association* -- *2.2%*
	1,000,000	2.875%, 5/19/08		979,106
	1,000,000	5.000%, 3/2/15		976,602

				1,955,708

*Total U.S. Government Agencies* *(Cost $2,984,903)*				*2,927,587*

*Collateralized Mortgage Obligations* -- *2.9%*
	2,576,881	CitiCorp Mortgage Securities, Inc., 5.500%, 10/25/35		2,534,236

*Total Collateralized Mortgage Obligations* *(Cost $2,553,534)*				*2,534,236*

*Preferred Stocks* -- *0.3%*
*Real Estate Investment Trusts* -- *0.3%*
	4,000	Simon Property Group, 6.000%		303,960

*Total Preferred Stocks* *(Cost $283,980)*				*303,960*

*Shares*				*Value*
*Cash Equivalents* -- *2.8%*
	2,502,317	Huntington Money Market Fund, Interfund Shares, 4.710%(b)(c)	$	2,502,317

*Total Cash Equivalents* *(Cost $2,502,317)*				*2,502,317*

*Short-Term Securities Held As Collateral For* *Securities Lending* -- *2.9%*

		Pool of various securities for the Huntington Funds		2,581,176

*Total Short-Term Securities Held As Collateral For* *Securities Lending* *(Cost $2,581,176)*				*2,581,176*

*Total Investments* *(Cost $90,032,110)* -- *102.6%*				*90,906,086*

*Liabilities in* Excess of Other Assets -- *(2.6)%*				*(2,288,627)*

*Net Assets* -- *100.0%*			$	*88,617,459*

(a) All or part of the security was on loan as of June 30, 2007.

(b) Investment in affiliate.

(c) Rate disclosed is the seven day yield as of June 30, 2007.

Huntington Ohio Tax-Free Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
General Obligations	28.8%
School Districts	24.1%
Higher Education	14.1%
Water	10.8%
Medical	6.0%
Utilities	4.4%
Facilities	4.0%
Transportation	3.1%
Power	2.8%
General Fund	1.2%
Pollution Control	0.1%
Cash	0.1%
Other Assets in Excess of Liabilities	0.5%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

Portfolio of Investments (unaudited)

*Principal* *Amount*				*Value*
*Municipal Bonds* -- *99.4%*
*Ohio* -- *99.4%*
$	50,000	Akron, OH, Hospital Improvements Revenue (FSA Ins), 5.250%, 11/15/15	$	52,712
	70,000	Akron, OH, Pension Funding Refunding Revenue (AMBAC Ins), 5.250%, 12/1/18		73,301
	335,000	Akron, OH, Water Utility Improvements Revenue (MBIA Ins), 5.250%, 12/1/17		353,994
	150,000	Allen County, OH, Refunding, G.O. (AMBAC Ins), 5.250%, 12/1/15		158,803
	375,000	Avon Lake, OH, Water System Revenue, Series A (AMBAC Ins), 5.500%, 10/1/15		393,184
	140,000	Bay Village, OH, City School District, G.O., 5.375%, 12/1/18		146,566
	105,000	Bowling Green State University, OH, General Receipts Revenue (AMBAC Ins), 5.250%, 6/1/19		111,103
	200,000	Butler County, OH (AMBAC Ins), 5.000%, 12/1/16		213,280
	300,000	Butler County, OH Sewer Systems Revenue (FSA Ins), 5.000%, 12/1/19		320,313
	420,000	Canton, OH, School District, G.O. (MBIA Ins), 5.350%, 12/1/15		439,366
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Ohio* -- *(Continued)*
$	200,000	Chagrin Falls, OH, Exempt Village School District, G.O. (MBIA Ins), 5.250%, 12/1/19	$	212,194
	150,000	Cincinnati, OH, Public Improvements, G.O., 5.000%, 12/1/12		154,629
	525,000	Cincinnati, OH, Public Improvements, G.O., 5.000%, 12/1/15		540,697
	355,000	Cincinnati, OH, Water Systems Revenue, 5.000%, 12/1/19		368,387
	85,000	Cleveland, OH, G.O. (MBIA Ins), 5.500%, 12/1/13		91,011
	80,000	Cleveland, OH, School District Refunding, G.O. (FGIC Ins), 5.250%, 12/1/14		84,735
	1,000,000	Cleveland, OH, School District Refunding, G.O. (FGIC Ins), 5.000%, 12/1/18		1,039,270
	335,000	Cleveland, OH, State University Revenue (FGIC Ins), 5.000%, 6/1/17		357,080
	100,000	Cleveland, OH, Waterworks Refunding Revenue, Series G (MBIA Ins), 5.500%, 1/1/13		104,366
	110,000	Cleveland, OH, Waterworks Unrefunded Revenue, Series I (FSA Ins), 5.250%, 1/1/11		111,823
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Ohio* -- *(Continued)*
$	640,000	Cleveland, OH, Waterworks Unrefunded Revenue, Series I (FSA Ins), 5.250%, 1/1/13	$	650,541
	650,000	Cleveland, OH, Waterworks Unrefunded Revenue, Series I (FSA Ins), 5.000%, 1/1/16		659,581
	60,000	Cleveland, OH, Waterworks Unrefunded Revenue, Series I (FSA Ins), 5.000%, 1/1/17		60,884
	75,000	Columbus, OH, G.O., Series A, 5.000%, 6/15/13		78,972
	500,000	Columbus, OH, Refunding, G.O., Series C, 5.000%, 7/15/16		530,865
	745,000	Crawford County, OH, Refunding, G.O. (AMBAC Ins), 4.750%, 12/1/19		760,697
	500,000	Cuyahoga County, OH, Hospital Revenue, Walker Center, Series I (AMBAC Ins), 5.250%, 1/1/13		511,150
	500,000	Cuyahoga County, OH, Port Authority Revenue (AMBAC Ins), 5.000%, 8/1/18		522,600
	435,000	Delaware County, OH, G.O. (MBIA Ins), 5.000%, 12/1/18		452,979
	50,000	Dublin, OH, City School District Refunding, G.O. (MBIA Ins), 5.000%, 12/1/19		50,662
	125,000	East Liverpool, OH, City Hospital Revenue, Series B (FSA Ins), 4.750%, 10/1/13		126,196
	500,000	Euclid, OH, G.O., 5.000%, 12/1/12		511,570
	360,000	Fairfield, OH, Local School District, G.O. (FSA Ins), 4.250%, 12/1/18		359,021
	190,000	Fairfield, OH, Union Local School District, G.O., Series A (FSA Ins), 4.250%, 12/1/19		188,546
	160,000	Fairfield, OH, Union Local School District, G.O., Series A (FSA Ins), 4.250%, 12/1/20		158,222
	175,000	Fairlawn, OH, G.O., 5.750%, 12/1/13		176,398
	150,000	Fairless, OH, Local School District, G.O. (FSA Ins), 5.000%, 12/1/21		156,111
	115,000	Field, OH, Local School District, G.O. (AMBAC Ins), 5.000%, 12/1/18		120,894
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Ohio* -- *(Continued)*
$	65,000	Field, OH, Local School District, G.O. (AMBAC Ins), 5.000%, 12/1/19	$	68,108
	155,000	Forest Hills, OH, Local School District Revenue (FSA Ins), 4.750%, 12/1/16		160,355
	190,000	Franklin County, OH, Municipal Facilities Improvments, G.O. (MBIA Ins), 4.650%, 12/1/15		195,664
	200,000	Franklin County, OH, Refunding, G.O., 5.375%, 12/1/20		207,778
	35,000	Gallia County, OH, Local School Disrict, G.O. (FSA Ins), 4.500%, 12/1/20		35,101
	340,000	Greater Cleveland, OH, Regulatory Transportation Authority, G.O. (FGIC Ins), 5.000%, 12/1/15		361,808
	540,000	Greene County, OH, Refunding, G.O., Series A (AMBAC Ins), 5.000%, 12/1/19		576,563
	450,000	Greene County, OH, Sewer System Revenue (AMBAC Ins), 5.000%, 12/1/18		474,277
	275,000	Greene County, OH, Water & Sewer Revenue (FSA Ins), 5.000%, 12/1/21		286,203
	75,000	Hamilton County, OH, Hospital Facilities Revenue (LOC-JP Morgan Chase Bank), 3.740%, 5/15/28(a)		75,000
	55,000	Hamilton County, OH, Revenue (AMBAC Ins), 5.750%, 12/1/12		58,159
	300,000	Hamilton County, OH, Sales Tax Prerefunded Revenue, Sub-Series B (AMBAC Ins), 5.750%, 12/1/17		317,625
	250,000	Hudson City, OH, Recreational Facilities Improvements, G.O., 5.000%, 12/1/14		258,197
	50,000	Kent State University, OH, General Receipts, Revenue, Series A, (AMBAC Ins), 5.000%, 5/1/18		50,710
	250,000	Kettering, OH, City School District, Refunding, G.O. (FSA Ins), 5.000%, 12/1/15		264,562
	50,000	Kettering, OH, G.O., 5.000%, 12/1/16		52,770
	1,000,000	Kettering, OH, G.O., 4.750%, 12/1/22		1,017,360
	95,000	Keystone, OH, Local School District, G.O. (FSA Ins), 5.000%, 12/1/19		99,338
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Ohio* -- *(Continued)*
$	285,000	Lakewood, OH, City School District, G.O. (FSA Ins), 5.000%, 12/1/18	$	297,189
	250,000	Lakota, OH, Local School District, G.O. (FGIC Ins), 5.050%, 12/1/13		256,392
	100,000	Licking County, OH, Joint Vocational School District, G.O. (MBIA Ins), 5.375%, 12/1/14		106,521
	300,000	Lorain County, OH, Hospital Revenue, Series B (MBIA Ins), 5.625%, 9/1/14		306,729
	810,000	Lucas County, OH, Hospital Refunding Revenue (AMBAC Ins), 5.000%, 11/15/11		840,772
	435,000	Madison, OH, Local School District Refunding, G.O. (FSA Ins), 4.000%, 12/1/17		426,635
	50,000	Mahoning County, OH, Hospital Facilities Revenue, Series A (MBIA Ins), 5.000%, 11/15/17		50,978
	500,000	Mahoning County, OH, Sewer Systems, Refunding Revenue (AMBAC Ins), 5.200%, 12/1/14		522,465
	1,010,000	Marysville, OH, Exempt Village School District, G.O. (MBIA Ins), 5.250%, 12/1/16		1,068,277
	250,000	Miami County, OH, G.O., 4.875%, 12/1/10		255,652
	200,000	Middleburg Heights, OH, Hospital Refunding Revenue, Southwest General Health Center (FSA Ins), 5.625%, 8/15/15		207,450
	50,000	Middleburg Heights, OH, Public Improvements Refunding, G.O., 4.300%, 12/1/10		50,362
	50,000	Montgomery County, OH, Cathlolic Health Revenue, 5.500%, 9/1/14		52,941
	50,000	Montgomery County, OH, Public Improvements, G.O., 5.500%, 12/1/13		52,286
	250,000	Montgomery County, OH, Water Refunding Revenue (AMBAC Ins), 5.375%, 11/15/16		266,055
	50,000	Mount Vernon, OH, City Schools Refunding, G.O. (FSA Ins), 5.000%, 12/1/17		52,734
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Ohio* -- *(Continued)*
$	100,000	Muskingum County, OH, Hospital Facilities Bethesda Hospital Association, Refunding Revenue (Connie Lee Ins), 5.400%, 12/1/16	$	101,657
	35,000	New Albany Plain, OH, Local School District, G.O. (FGIC Ins), 5.500%, 12/1/18		37,140
	25,000	New Albany Plain, OH, Local School District, G.O. (FGIC Ins), 5.500%, 12/1/18		26,666
	235,000	Norwalk, OH, Refunding, G.O., 5.550%, 4/1/09		237,679
	100,000	Norwalk, OH, Refunding, G.O., 5.600%, 4/1/10		101,145
	1,000,000	Ohio Municipal Electric Generation Agency Refunding Revenue (AMBAC Ins), 5.000%, 2/15/17		1,046,900
	170,000	Ohio State Building Authority Refunding Revenue, Series A, 5.250%, 6/1/10		176,004
	65,000	Ohio State Building Authority Revenue, Series A (FSA Ins), 5.500%, 4/1/15		69,340
	125,000	Ohio State Building Authority State Facilities Revenue, Series A (FSA Ins), 5.500%, 10/1/14		132,286
	60,000	Ohio State Building Authority, Refunding Revenue, Series A (FGIC Ins), 5.000%, 4/1/11		62,188
	150,000	Ohio State Building Authority, State Facilities Revenue, Series A, 5.000%, 4/1/16		156,287
	140,000	Ohio State Community Schools, G.O., Series B, 5.000%, 9/15/18		145,141
	100,000	Ohio State Community Schools, G.O., Series B (FSA Ins), 5.000%, 9/15/18		104,192
	175,000	Ohio State Conservation Project, G.O., Series A, 5.000%, 3/1/15		183,680
	700,000	Ohio State Conservation Projects, G.O., Series A, 5.000%, 3/1/17		729,680
	150,000	Ohio State Higher Education, Capital Facilities, G.O., Series A, 5.375%, 2/1/15		157,052
	60,000	Ohio State Higher Educational Facility Community Revenue (AMBAC Ins), 5.200%, 12/1/10		60,917
*Principal* *Amount*				*Value*
*Municipal Bonds* -- *(Continued)*
*Ohio* -- *(Continued)*
$	25,000	Ohio State Highway Improvements Revenue, 5.000%, 2/15/17	$	25,773
	150,000	Ohio State Parks & Recreation Revenue, Series II-A (FSA Ins), 5.000%, 12/1/17		156,930
	250,000	Ohio State Revitalization Revenue Project, Series A (AMBAC Ins), 5.000%, 4/1/21		261,692
	450,000	Ohio State Turnpike Commission Revenue, 5.500%, 2/15/20		470,466
	100,000	Ohio State Turnpike Commission Revenue, Series B (FGIC Ins), 5.250%, 2/15/12		102,452
	100,000	Ohio State University Cultural & Sports Capital Facilities Refunding Revenue, Series A (FSA Ins), 5.000%, 4/1/17		105,368
	30,000	Ohio State Water Development Authority Refunding Revenue, 5.250%, 6/1/11		31,409
	685,000	Ohio State, Public Improvements, G.O., Series A, 5.000%, 3/1/18		713,345
	100,000	River Valley, OH, Local School District, G.O. (FSA Ins), 5.250%, 11/1/16		104,789
	1,040,000	Shaker Heights, OH, Urban Renewal Refunding, G.O. (AMBAC Ins), 5.000%, 12/1/17		1,085,074
	200,000	Sidney, OH, City School District, G.O. (FGIC Ins), 5.000%, 12/1/12		209,628
	980,000	Southwest Licking County, OH, Local School District, G.O. (AMBAC Ins), 5.000%, 12/1/19		1,027,216
	130,000	Springfield, OH, G.O. (FGIC Ins), 5.500%, 12/1/17		135,698
	325,000	Strongsville, OH, Library Improvements, G.O. (FGIC Ins), 5.000%, 12/1/15		336,801
	235,000	Swanton, OH, Local School Disctrict, School Improvement, G.O. (FGIC Ins), 4.900%, 12/1/15		244,139
	500,000	Teays Valley, OH, Local School District, School Facilities Construction & Improvement, G.O. (FGIC Ins), 5.150%, 12/1/14		519,895
	315,000	Toledo, OH, Sewer System Revenue (MBIA Ins), 5.250%, 11/15/13		330,167
	700,000	Toledo, OH, Waterworks Revenue (MBIA Ins), 5.000%, 11/15/19		735,077
	500,000	Troy, OH, Capital Facilities, G.O., 6.250%, 12/1/11		521,970
*Principal* *Amount* *or Shares*				*Value*
*Municipal Bonds* -- *(Continued)*
*Ohio* -- *(Continued)*
$	350,000	Trumbull County, OH, Public Improvements Refunding, G.O. (MBIA Ins), 5.125%, 12/1/13	$	371,189
	655,000	Twinsburg, OH, Recreational Facilities Improvements, G.O. (FGIC Ins), 5.500%, 12/1/17		692,676
	1,000,000	University of Cincinnati, OH, Certificate Participation (MBIA Ins), 5.000%, 6/1/15		1,061,600
	500,000	University of Cincinnati, OH, Certificate Participation, University Center Project, Revenue (MBIA Ins), 5.100%, 6/1/11		520,785
	1,000,000	University of Cincinnati, OH, General Receipts Revenue, Series A (AMBAC Ins), 5.000%, 6/1/17		1,054,680
	1,690,000	University of Cincinnati, OH, General Receipts Revenue, Series A (MBIA Ins), 5.000%, 6/1/19		1,787,344
	300,000	University of Cincinnati, OH, General Receipts Revenue, Series A (AMBAC Ins), 5.000%, 6/1/19		314,346
	50,000	Warren County, OH, Waterworks Refunding Revenue (FSA Ins), 5.000%, 12/1/15		52,626
	650,000	Washington Court House, OH, School Improvements, G.O. (FGIC Ins), 5.000%, 12/1/19		682,721

*Total Municipal Bonds* *(Cost $38,260,035)*				*37,959,529*

*Cash Equivalents* -- *0.1%*
	25,658	Fidelity Institutional Tax-Exempt Fund, 3.570%(b)		25,658

*Total Cash Equivalents* *(Cost $25,658)*				*25,658*

*Total Investments* *(Cost $38,285,693)* -- *99.5%*				*37,985,187*

*Other* Assets in Excess of Liabilities -- *0.5%*				*190,618*

*Net Assets* -- *100.0%*			$	*38,175,805*

(a) Variable or Floating Rate Security. Rate disclosed is as of June 30, 2007.

(b) Rate disclosed is the seven day yield as of June 30, 2007.

AMBAC -- American Municipal Bond Assurance Corporation
FGIC -- Financial Guaranty Insurance Company
FSA -- Financial Security Assurance
G.O. -- General Obligation
Ins -- Insured
LOC -- Letter of Credit
MBIA -- Municipal Bond Insurance Association

Huntington Short/Intermediate Fixed Income Securities Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

*Asset Allocation*	*Percentage* of *Net Assets*
Corporate Bonds	60.5%
U.S. Government Agencies	38.8%
Cash¹	0.2%
Other Assets in Excess of Liabilities	0.5%

*Total*	100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Cash is comprised of investments in an affiliated money market fund.

Portfolio of Investments (unaudited)

*Principal* *Amount*				*Value*
*Corporate Bonds* -- *60.5%*
*Banks* -- *6.6%*
$	1,500,000	Bank of America, 5.375%, 8/15/11	$	1,493,445
	1,500,000	CitiGroup Inc, 5.125%, 2/14/11		1,481,351
	1,500,000	KeyCorp., 4.700%, 5/21/09		1,481,925
	1,477,273	Marshall & Ilsley Bank, 2.900%, 8/18/09		1,437,933

				5,894,654

*Consumer Discretionary* -- *6.6%*
	2,000,000	Metropolitan Life Global Funding, 4.250%, 7/30/09 (a)		1,958,872
	1,000,000	Nordstrom, Inc., 5.625%, 1/15/09		1,002,121
	2,000,000	Oracle Corp., 5.000%, 1/15/11		1,971,188
	1,000,000	The Stanley Works, 3.500%, 11/1/07		993,398

				5,925,579

*Consumer Staples* -- *1.7%*
	1,500,000	Costco Wholesale Corp., 5.300%, 3/15/12		1,488,771

				1,488,771

*Energy* -- *4.4%*
	2,000,000	Anadarko Petroleum Corp., 3.250%, 5/1/08		1,961,288
	1,000,000	BJ Services Co., 5.750%, 6/1/11		999,114
	1,000,000	Shell International Finance Corp., 4.950%, 3/22/12		978,363

				3,938,765

*Financials* -- *19.7%*
	2,000,000	Caterpillar Financial Services Corp., 5.050%, 12/1/10		1,981,504
	1,500,000	CIT Group, Inc., 5.800%, 7/28/11		1,496,079
	1,500,000	Countrywide Home Loans, Inc., 3.250%, 5/21/08		1,470,122
	3,000,000	General Electric Capital Corp., 3.750%, 12/15/09		2,890,443
	2,000,000	Goldman Sachs Group, Inc., 4.500%, 6/15/10		1,949,980
*Principal* *Amount*				*Value*
*Corporate Bonds* -- *(Continued)*
*Financials* -- *(Continued)*
$	3,000,000	HSBC Finance Corp., 4.800%, 6/15/10	$	2,905,707
	1,500,000	International Lease Finance Corp., 5.450%, 3/24/11		1,493,206
	2,000,000	Merrill Lynch & Co., 4.250%, 2/8/10		1,944,654
	1,500,000	Washington Mutual, Inc., 5.500%, 8/24/11		1,488,424

				17,620,119

*Materials* -- *2.2%*
	2,000,000	Monsanto Co., 4.000%, 5/15/08		1,975,068

				1,975,068

*Railroads* -- *3.4%*
	1,500,000	CSX Corp., 6.750%, 3/15/11		1,550,291
	1,500,000	Union Pacific Corp., 3.875%, 2/15/09		1,465,770

				3,016,061

*Real Estate Investment Trusts* -- *3.8%*
	2,000,000	Camden Property Trust, 4.375%, 1/15/10		1,941,322
	1,500,000	Duke Realty LP, 5.625%, 8/15/11		1,496,668

				3,437,990

*Technology* -- *5.0%*
	1,000,000	Cisco Systems, Inc., 5.250%, 2/22/11		994,002
	1,500,000	Hewlett Packard Corp., 5.250%, 3/1/12		1,483,449
	2,000,000	Quest Diagnostics, Inc., 5.125%, 11/1/10		1,960,492

				4,437,943

*Telecommunications* -- *3.3%*
	2,000,000	BellSouth Corp., 4.200%, 9/15/09		1,947,886
	1,000,000	GTE North, Inc., 5.650%, 11/15/08		1,001,216

				2,949,102

*Utilities* -- *3.8%*
	2,000,000	Alabama Power Co., 3.125%, 5/1/08		1,962,690
	1,500,000	Dominion Resource, Inc., 4.750%, 12/15/10		1,464,948

				3,427,638

*Total Corporate Bonds* *(Cost $54,960,196)*				*54,111,690*

*Principal* *Amount*				*Value*
*U.S. Government Agencies* -- *38.8%*
*Federal Farm Credit Bank* -- *3.9%*
$	1,000,000	5.250%, 12/7/10	$	996,980
	2,500,000	5.150%, 12/20/11		2,477,902

				3,474,882

*Federal Home Loan Bank* -- *4.9%*
	1,000,000	3.850%, 1/30/08		991,327
	1,000,000	3.500%, 12/26/08		975,305
	2,500,000	3.875%, 8/14/09		2,435,512

				4,402,144

*Federal Home Loan Mortgage* *Corporation* -- *24.4%*
	1,000,000	4.260%, 7/19/07		999,433
	1,000,000	3.500%, 3/24/08		986,889
	1,500,000	3.500%, 4/28/08		1,478,120
	2,000,000	3.650%, 5/7/08		1,972,380
	2,000,000	4.875%, 8/24/10		1,979,822
	2,000,000	4.750%, 1/18/11		1,970,798
	2,000,000	5.425%, 2/28/11		1,994,874
	4,000,000	5.750%, 5/23/11		4,009,532
	2,000,000	5.450%, 9/2/11		1,993,264
	1,500,000	5.250%, 10/6/11		1,488,101
	2,000,000	5.300%, 1/9/12		1,984,720
	1,000,000	5.400%, 1/11/12		996,054

				21,853,987

*Principal* *Amount*				*Value*
*U.S. Government Agencies* -- *(Continued)*
*Federal National Mortgage Association* -- *5.6%*
$	2,000,000	3.750%, 9/15/08	$	1,964,834
	1,000,000	3.850%, 4/14/09		977,079
	2,000,000	5.750%, 6/9/11		2,005,568

				4,947,481

*Total U.S. Government Agencies* *(Cost $34,999,697)*				*34,678,494*

*Cash Equivalents* -- *0.2%*
	143,390	Huntington Money Market Fund, Interfund Shares, 4.710%(b)(c)		143,390

*Total Cash Equivalents* *(Cost $143,390)*				*143,390*

*Total Investments* *(Cost $90,103,283)* -- *99.5%*				*88,933,574*

*Other* Assets in Excess of Liabilities -- *0.5%*				*458,843*

*Net Assets* -- *100.0%*			$	*89,392,417*

(b) Investment in affiliate.

(c) Rate disclosed is the seven day yield as of June 30, 2007.

Statements of Assets and Liabilities

June 30, 2007 (unaudited)

	*Huntington* *Florida Tax-Free* *Money Market* *Fund*	*Huntington* *Money* *Market* *Fund*	*Huntington* *Ohio Municipal* *Money Market* *Fund*

*Assets:*
Investments, at cost(1)	$ 33,190,570	$ 934,087,268	$ 191,975,806

Investments, at value(1)	33,190,570	934,087,268	191,975,806
Investments in affiliated securities, at value	--	--	--

Total Investments	33,190,570	934,087,268	191,975,806

Investments in repurchase agreements, at cost	--	44,186,100	--
Cash	--	16	--
Foreign currencies; at value (Cost $0, $0, $0, $0, $0, $0, $0, $8,010,353 and $0)	--	--	--
Income receivable	197,696	649,719	1,333,595
Receivable for investments sold	500,000	--	1,998,000
Receivable for shares sold	--	76,224	--
Tax reclaims receivable	--	--	--
Prepaid expenses and other assets	9,626	4,030	2,461

Total assets	33,897,892	979,003,357	195,309,862

*Liabilities:*
Options written; at value (premium received $0, $0, $0, $0, $35,100, $0, $1,061,479, $0 and $0)	--	--	--
Cash overdraft	--	--	--
Income distribution payable	82,991	3,010,849	443,070
Payable for investments purchased	1,004,330	--	1,004,120
Payable for shares redeemed	--	--	--
Payable for return of collateral received for securities on loan	--	--	--
Accrued expenses and other payables
Investment adviser fees	9,146	222,187	50,252
Administration fees	3,425	108,912	22,613
Custodian fees	793	20,975	4,355
Financial administration fees	1,836	26,121	9,540
Distribution services fee	1,745	88,612	24,223
Shareholder services fee	7,621	194,610	41,876
Transfer agent fees	475	99,668	15,799
Trustees’ fees	600	14,142	3,301
Compliance service fees	877	23,208	4,819
Other	6,025	175,435	36,197

Total liabilities	1,119,864	3,984,719	1,660,165

*Net Assets*	$32,778,028	$975,018,638	$193,649,697

*Net Assets Consist of:*
Paid in capital	32,792,664	975,519,981	193,699,700
Net unrealized appreciation of investments, options and translation of assets and liabilities in foreign currency	--	--	--
Accumulated net realized gain (loss) on investments, options and foreign currency transactions	(14,636)	(501,343)	(50,003)
Accumulated net investment income (loss)	--	--	--

*Total Net Assets*	$32,778,028	$975,018,638	$193,649,697

*Net Assets:*
Trust Shares	$ 25,643,439	$ 492,194,207	$ 87,365,078

Investment A Shares	$ 7,134,589	$ 447,294,286	$ 106,284,619

Investment B Shares	--	$ 73,212	--

Interfund Shares	--	$ 35,456,933	--

*Shares Outstanding:*
Trust Shares	25,651,993	492,692,329	87,382,020

Investment A Shares	7,139,715	447,279,500	106,310,210

Investment B Shares	--	73,182	--

Interfund Shares	--	35,480,031	--

*Net Asset Value, Redemption Price and Offering Price Per Share:*
*Net Asset Value and Redemption Price Per Share*
Trust Shares	$ 1.00	$ 1.00	$ 1.00

Investment A Shares	$ 1.00	$ 1.00	$ 1.00

Investment B Shares	--	$ 1.00	--

Interfund Shares	--	$ 1.00	--

*Offering Price Per Share* (100%/(100%-maximum sales charge) of net asset value adjusted to the nearest cent) per share:
Trust Shares	$ 1.00	$ 1.00	$ 1.00

Investment A Shares	$ 1.00	$ 1.00	$ 1.00

Investment B Shares(2)	--	$ 1.00	--

Interfund Shares	--	$ 1.00	--

Maximum Sales Charge--Investment A Shares	--	--	--

(1) Includes securities on loan of $0; $0; $0; $0; $15,766,932; $14,232,677; $26,618,550; $0 and $0.

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

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

Huntington
U.S. Treasury
Money Market
Fund

Huntington
Dividend
Capture
Fund

Huntington
Growth Fund

Huntington
Income Equity
Fund

Huntington
International
Equity Fund

Huntington
Macro 100
Fund

$ 353,010,350

$ 156,999,543

$ 189,261,932

$ 194,811,060

$ 197,538,539

$ 43,053,203

353,010,350

159,489,521

260,427,180

233,771,476

299,604,111

44,098,246

1,400,779

1,436,607

2,955,574

618,152

353,010,350

160,890,300

261,863,787

236,727,050

299,604,111

44,716,398

333,044,600

14,569,000

167,429

6,424

8,059,749

127,349

594,764

229,072

341,326

550,045

32,167

2,056,499

76,456

63,249

48,987

193,198

23,076

30,492

6,968

2,414

2,718

3,306

3,145

21,459

686,189,358

161,731,363

262,158,826

239,177,168

323,016,164

44,793,100

15,000

1,077,510

2,132,585

805,185

2,632,440

251,008

89,477

131,007

41,035

9,686

16,322,757

14,611,419

28,130,391

109,039

89,671

123,038

103,552

262,308

27,682

73,600

16,141

27,683

23,299

35,411

4,976

14,174

3,108

5,331

4,487

958

16,812

4,777

9,777

8,681

27,807

2,056

19,219

13,312

5,324

6,676

3,707

2,588

136,297

29,755

51,235

43,160

65,281

9,193

88,717

1,685

3,133

1,175

19,938

509

8,814

2,180

4,007

3,405

4,376

579

15,683

3,439

5,899

4,965

7,546

1,060

121,983

4,042

40,181

36,679

47,998

4,932

2,736,923

17,562,060

14,976,504

32,207,427

515,407

64,312

$683,452,435

$144,169,303

$ 247,182,322

$206,969,741

$322,500,757

$44,728,788

683,459,337

134,425,699

131,389,205

134,414,739

214,350,193

40,420,220

3,910,857

72,601,855

41,899,959

102,117,564

1,663,195

(3,581)

5,501,595

42,767,496

30,535,386

4,443,214

2,650,981

(3,321)

331,152

423,766

119,657

1,589,786

(5,608)

$683,452,435

$144,169,303

$247,182,322

$206,969,741

$ 322,500,757

$44,728,788

$ 594,333,677

$ 114,057,783

$ 232,321,012

$ 191,746,165

$ 309,793,346

$ 39,448,782

$ 89,118,758

$ 12,281,103

$ 9,254,313

$ 6,840,823

$ 9,579,535

$ 3,081,563

$ 17,830,417

$ 5,606,997

$ 8,382,753

$ 3,127,876

$ 2,198,443

594,310,817

9,933,167

5,951,940

5,748,676

20,578,838

3,326,923

89,150,950

1,069,701

241,181

205,070

641,015

262,197

1,556,776

153,077

252,474

213,956

189,689

$ 1.00

$ 11.48

$ 39.03

$ 33.36

$ 15.05

$ 11.86

$ 1.00

$ 11.48

$ 38.37

$ 33.36

$ 14.94

$ 11.75

$ 11.45

$ 36.63

$ 33.20

$ 14.62

$ 11.59

$ 1.00

$ 11.48

$ 39.03

$ 33.36

$ 15.05

11.86

$ 1.00

$ 12.18

$ 40.71

$ 35.40

$ 15.85

12.47

$ 11.45

$ 36.63

$ 33.20

$ 14.62

11.59

5.75%

Statements of Assets and Liabilities

June 30, 2007 (unaudited)

	*Huntington* *Mid Corp* *America* *Fund*	*Huntington* *New Economy* *Fund*	*Huntington* *Real* *Strategies* *Fund*	*Huntington* *Rotating* *Markets* *Fund*

*Assets:*
Investments, at cost(1)	$ 122,811,139	$ 122,768,677	$ 23,203,201	$ 43,801,414

Investments, at value	197,285,129	145,789,460	23,111,042	56,920,475
Investments in affiliated securities, at value	4,508,016	3,943,888	509,474	1,165,420

Total Investments	201,793,145	149,733,348	23,620,516	58,085,895

Foreign currencies; at value (Cost $0, $0, $0, $0, $3,954, $0, $0, $0, $0, $0 and $0)	--	--	--	--
Income receivable	143,085	152,155	6,988	86,791
Receivable for investments sold	907,472	--	--	--
Receivable for shares sold	46,474	87,637	22,993	67,603
Tax reclaims receivable	--	--	--	--
Prepaid expenses and other assets	9,191	10,627	34,217	22,249

Total assets	202,899,367	149,983,767	23,684,714	58,262,538

*Liabilities:*
Options written; at value (premium received $0, $0, $136,045, $0, $0, $0, $0, $0, $0, $0 and $0)	--	--	109,508	--
Cash overdraft	--	--	3,539	--
Income distribution payable	--	--	--	--
Payable for shares redeemed	41,425	32,118	215	69,179
Payable for return of collateral received for securities on loan	26,309,205	19,979,767	--	--
Accrued expenses and other payables
Investment adviser fees	109,493	90,798	13,268	23,957
Administration fees	19,709	14,421	2,388	6,468
Custodian fees	3,796	2,777	618	1,246
Financial administration fees	7,981	6,509	6,424	1,413
Distribution services fee	6,386	4,826	64	920
Shareholder services fee	36,441	26,667	4,423	11,978
Transfer agent fees	2,170	1,362	72	541
Trustees’ fees	2,700	1,839	164	692
Compliance service fees	4,200	3,073	509	1,378
Other	29,172	18,481	97	9,479

Total liabilities	26,572,678	20,182,638	141,289	127,251

*Net Assets*	$ 176,326,689	$ 129,801,129	$ 23,543,425	$ 58,135,287

*Net Assets Consist of:*
Paid in capital	88,987,199	89,111,077	23,120,168	42,173,717
Net unrealized appreciation (depreciation) of investments, options and translation of assets and liabilities in foreign currency	78,982,006	26,964,671	443,852	14,284,481
Accumulated net realized gain (loss) on investments, options and foreign currency transactions	8,429,808	13,559,562	(60,475)	1,719,266
Accumulated net investment income (loss)	(72,324)	165,819	39,880	(42,177)

*Total Net Assets*	$ 176,326,689	$ 129,801,129	$ 23,543,425	$ 58,135,287

*Net Assets:*
Trust Shares	$ 162,142,465	$ 114,870,800	$ 23,130,177	$ 53,524,019

Investment A Shares	$ 5,419,162	$ 10,098,554	$ 383,548	$ 4,607,747

Investment B Shares	$ 8,765,062	$ 4,831,775	$ 29,700	$ 3,521

*Shares Outstanding:*
Trust Shares	8,911,306	6,383,613	2,264,015	3,691,085

Investment A Shares	302,707	570,076	37,555	320,254

Investment B Shares	505,044	282,620	2,913	245

*Net Asset Value, Redemption Price and* *Offering Price Per Share:*
*Net Asset Value and Redemption Price Per Share*
Trust Shares	$ 18.20	$ 18.00	$ 10.22	$ 14.50

Investment A Shares	$ 17.90	$ 17.72	$ 10.21	$ 14.39

Investment B Shares	$ 17.36	$ 17.10	$ 10.20	$ 14.37

*Offering Price Per Share*(100%/(100%-maximum sales charge) of net asset value adjusted to the nearest cent) per share:
Trust Shares	$ 18.20	$ 18.00	$ 10.22	$ 14.50

Investment A Shares	$ 18.99	$ 18.80	$ 10.83	$ 15.27

Investment B Shares(2)	$ 17.36	$ 17.10	$ 10.20	$ 14.37

Maximum Sales Charge--Investment A Shares	5.75%	5.75%	5.75%	5.75%

(1) Includes securities on loan of $25,473,159; $19,569,517; $0; $0; $20,494,760; $23,616,733; $6,734,850; $0; $2,498,024; $0 and $0.

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

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

Huntington
Situs
Small Cap
Fund

Huntington
Fixed Income
Securities
Fund

Huntington
Intermediate
Government
Income Fund

Huntington
Michigan
Tax-Free
Fund

Huntington
Mortgage
Securities
Fund

Huntington
Ohio
Tax-Free
Fund

Huntington
Short/Intermediate
Fixed Income
Securities Fund

$ 116,421,323

$ 202,165,785

$ 114,125,719

$ 19,875,098

$ 90,032,110

$ 38,285,693

$ 90,103,283

149,990,726

198,866,179

109,161,265

19,808,913

88,403,769

37,985,187

88,790,184

2,483,829

1,950,912

2,457,306

2,502,317

143,390

152,474,555

200,817,091

111,618,571

19,808,913

90,906,086

37,985,187

88,933,574

3,962

78,033

2,320,077

1,107,030

204,909

406,368

291,433

1,064,021

163,763

130,428

9,859,871

20,000

7,141

991

13,325

1,743

8,325

21,997

12,331

21,462

2,481

152,734,629

203,269,339

122,593,797

20,035,819

91,344,785

38,298,082

90,007,217

350,557

200,031

33,894

78,225

154,035

44,245

57,478

5,293

5,468

54,185

735

367,989

21,159,871

23,973,864

6,835,500

2,581,176

80,325

72,987

43,026

8,803

36,460

16,344

37,009

14,458

19,706

11,617

2,228

9,844

4,413

9,992

3,795

2,237

429

1,896

850

1,924

25,266

8,407

5,903

4,027

5,148

4,533

4,390

5,765

1,713

581

1,072

817

1,038

138

26,731

36,448

21,511

4,123

18,220

8,153

18,504

1,367

4,971

1,470

337

1,146

644

1,187

1,765

2,719

1,732

372

1,390

742

1,661

3,081

4,199

2,475

475

2,098

940

2,129

25,779

31,278

18,997

2,603

14,946

5,660

15,842

21,388,653

24,568,122

7,150,373

63,831

2,727,326

122,277

614,800

$ 131,345,976

$ 178,701,217

$ 115,443,424

$ 19,971,988

$ 88,617,459

$ 38,175,805

$ 89,392,417

88,526,718

180,686,904

118,321,713

20,206,006

87,383,755

38,457,744

94,211,635

36,053,302

(1,348,694)

(2,507,148)

(66,185)

873,976

(300,506)

(1,169,709)

6,467,596

(635,647)

(356,422)

(167,833)

258,766

18,566

(3,648,451)

298,360

(1,346)

(14,719)

100,962

(1,058)

$ 131,345,976

$ 178,701,217

$ 115,443,424

$ 19,971,988

$ 88,617,459

$ 38,175,805

$ 89,392,417

$ 110,816,979

$ 174,663,654

$ 113,384,466

$ 15,647,302

$ 85,949,142

$ 35,381,907

$ 88,657,148

$ 15,966,572

$ 1,618,997

$ 1,659,238

$ 3,895,457

$ 1,932,794

$ 1,563,617

$ 735,269

$ 4,562,425

$ 2,418,566

$ 399,720

$ 429,229

$ 735,523

$ 1,230,281

4,929,555

8,540,411

11,202,829

1,508,471

9,709,147

1,722,667

4,613,287

719,292

79,176

163,943

375,549

217,131

76,177

38,249

211,024

118,406

39,476

41,399

82,959

59,934

$ 22.48

$ 20.45

$ 10.12

$ 10.37

$ 8.85

$ 20.54

$ 19.22

$ 22.20

$ 20.45

$ 10.12

$ 10.37

$ 8.90

$ 20.53

$ 19.22

$ 21.62

$ 20.43

$ 10.13

$ 10.37

$ 8.87

$ 20.53

$ 22.48

$ 20.45

$ 10.12

$ 10.37

$ 8.85

$ 20.54

$ 19.22

$ 23.55

$ 21.47

$ 10.62

$ 10.89

$ 9.34

$ 21.55

$ 19.51

$ 21.62

$ 20.43

$ 10.13

$ 10.37

$ 8.87

$ 20.53

5.75%

4.75%

1.50%

Statements of Operations

Six Months Ended June 30, 2007 (unaudited)

	*Huntington* *Florida* *Tax-Free* *Money Market* *Fund*	*Huntington* *Money Market* *Fund*	Huntington Ohio Municipal Money *Market Fund*

*Investment Income:*
Dividend income	$ 17,888	$ 107,251	$ 95,488
Dividend income from affiliated securities	--	--	--
Interest income	700,703	24,874,253	3,387,330
Income from securities lending	--	--	--
Foreign dividend taxes withheld	--	--	--

Total investment income	718,591	24,981,504	3,482,818

*Expenses:*
Investment adviser fees	58,957	1,314,148	284,714
Administration fees	26,531	642,869	128,123
Custodian fees	5,109	123,805	24,674
Transfer and dividend disbursing agent fees and expenses	4,787	111,414	24,920
Trustees fees	961	23,899	5,181
Auditing fees	2,299	57,167	11,677
Legal fees	718	17,016	3,698
Financial administration fees	10,778	198,168	43,342
Distribution services fee--Investment A Shares	16,243	519,013	133,448
Distribution services fee--Investment B Shares	--	295	--
Shareholder services fee--Trust Shares	32,888	623,904	103,813
Shareholder services fee--Investment A Shares	16,243	519,013	133,448
Shareholder services fee--Investment B Shares	--	98	--
Share registration costs	13,200	68,771	20,043
Printing and postage	2,810	70,266	14,669
Insurance premiums	2,518	13,776	4,534
Compliance service fees	326	7,674	1,476
Other	929	22,261	5,077

Total expenses	195,297	4,333,557	942,837

*Net investment income (loss)*	523,294	20,647,947	2,539,981

*Realized and Unrealized Gain (Loss) on Investments, Options and Foreign* *Currency Transactions:*
Net realized gain (loss) on investment transactions	(2,197)	(105)	(2,750)
Net realized gain (loss) on option transactions	--	--	--
Net realized (loss) on foreign currency transactions	--	--	--

Net realized gain (loss) on investments, options and foreign currency transactions	(2,197)	(105)	(2,750)

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	(2,197)	(105)	(2,750)

*Change in net assets resulting from operations*	$ 521,097	$ 20,647,842	$ 2,537,231

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

*Huntington* *U.S. Treasury* *Money Market* *Fund*	*Huntington* *Dividend* *Capture* *Fund*	*Huntington* *Growth* *Fund*	*Huntington* *Income Equity* *Fund*	*Huntington* *International* *Equity Fund*	*Huntington* *Macro 100* *Fund*

$ --	$ 3,331,420	$ 1,768,295	$ 2,668,248	$ 4,013,928	$ 311,654
--	46,287	43,605	33,849	--	18,863
17,587,475	--	--	--	261,140	--
--	11,848	21,196	18,759	--	--
--	--	--	--	(322,154)	--

17,587,475	3,389,555	1,833,096	2,720,856	3,952,914	330,517


691,878	543,023	723,429	605,166	1,496,307	174,583
467,020	97,746	162,773	136,164	202,004	31,425
89,940	18,824	31,347	26,223	36,124	6,052
84,039	17,779	30,880	25,832	34,272	5,470
18,595	3,702	6,371	5,456	7,369	1,130
43,799	8,764	14,005	12,051	18,647	2,944
12,761	2,599	4,628	3,878	5,215	759
144,352	33,870	58,424	50,232	93,726	18,184
104,707	14,756	11,372	8,057	9,974	3,927
--	69,424	20,869	30,807	10,297	7,975
760,130	143,110	283,099	233,825	360,669	51,609
104,707	14,756	11,372	8,057	9,974	3,927
--	23,142	6,956	10,269	3,432	2,658
61,026	25,955	26,171	25,106	37,139	18,022
51,801	10,738	18,282	15,533	21,684	3,260
13,839	4,420	4,953	5,152	7,316	2,794
5,857	1,173	1,901	1,589	2,365	376
28,725	3,453	6,448	5,303	6,614	1,030

2,683,176	1,037,234	1,423,280	1,208,700	2,363,128	336,125

14,904,299	2,352,321	409,816	1,512,156	1,589,786	(5,608)


2,843	5,611,521	43,018,149	31,920,834	4,447,513	2,748,133
--	35,948	--	(334,350)	--	--
--	--	--	--	(4,299)	--

2,843	5,647,469	43,018,149	31,586,484	4,443,214	2,748,133

--	(6,040,570)	(26,941,490)	(17,389,967)	24,751,879	(130,399)

2,843	(393,101)	16,076,659	14,196,517	29,195,093	2,617,734

$ 14,907,142	$ 1,959,220	$ 16,486,475	$ 15,708,673	$ 30,784,879	$ 2,612,126

Statements of Operations

Six Months Ended June 30, 2007 (Unaudited)

	*Huntington* *Mid Corp* *America* *Fund*	*Huntington* *New* *Economy* *Fund*	*Huntington* *Real Strategies* *Fund(1)*	*Huntington* *Rotating* *Markets* *Fund(2)*

*Investment Income:*
Dividend income	$ 997,896	$ 905,721	$ 15,138	$ 211,873
Dividend income from affiliated securities	61,089	90,251	6,380	48,024
Interest income	--	--	78,959	--
Income from securities lending	35,704	37,273	--	--
Foreign dividend taxes withheld	--	--	--	--

Total investment income	1,094,689	1,033,245	100,477	259,897

*Expenses:*
Investment adviser fees	642,419	510,188	23,730	133,739
Administration fees	115,637	81,031	4,271	36,110
Custodian fees	22,270	15,605	981	6,954
Transfer and dividend disbursing agent fees and expenses	21,801	14,524	851	6,039
Trustees’ fees	4,525	3,028	165	1,283
Auditing fees	10,231	7,362	326	3,281
Legal fees	3,211	2,140	187	5,464
Financial administration fees	45,146	33,599	8,543	15,360
Distribution services fee--Investment A Shares	6,488	11,638	72	5,275
Distribution services fee--Investment B Shares	32,252	16,782	9	4
Shareholder services fee--Trust Shares	196,901	132,823	7,835	61,593
Shareholder services fee--Investment A Shares	6,488	11,638	72	5,275
Shareholder services fee--Investment B Shares	10,751	5,594	3	1
Share registration costs	24,970	25,249	12,973	13,229
Printing and postage	13,010	8,886	190	3,748
Insurance premiums	5,140	4,135	168	3,119
Compliance service fees	1,365	943	--	417
Other	4,414	2,837	221	1,184

Total expenses	1,167,019	888,002	60,597	302,075

*Net investment income (loss)*	(72,330)	145,243	39,880	(42,178)

*Realized and Unrealized Gain (Loss) on Investments, Options and* *Foreign Currency Transactions:*
Net realized gain (loss) on investment transactions	8,429,808	13,559,562	(124,841)	1,719,266
Net realized gain on option transactions	--	--	64,366	--
Net realized (loss) on foreign currency transactions	--	--	--	--

Net realized gain on investments, options and foreign currency transactions	8,429,808	13,559,562	(60,475)	1,719,266

Net change in unrealized appreciation/depreciation of investments, options and translation of assets and liabilities in foreign currency	10,524,378	395,043	443,852	3,032,230

Net realized and unrealized gain (loss) on investments, options and foreign currency transactions	18,954,186	13,954,605	383,377	4,751,496

*Change in net assets resulting from operations*	$ 18,881,856	$ 14,099,848	$ 423,257	$ 4,709,318

(1) Reflects operations for the period from May 1, 2007 (date of commencement of operations) to June 30, 2007.

(2) Reflects operations for the period from May 1, 2007 (date of commencement of operations) to June 30, 2007 for Investment B Shares.

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

Huntington
Situs
Small Cap
Fund

Huntington
Fixed Income
Securities
Fund

Huntington
Intermediate
Government
Income
Fund

Huntington
Michigan
Tax-Free
Fund

Huntington
Mortgage
Securities
Fund

Huntington
Ohio Tax-Free
Fund

Huntington
Short/Intermediate
Fixed Income
Securities
Fund

$ 965,088

$ 115,795

$ --

$ 2,802

$ 62,553

$ 3,693

$ --

131,381

44,086

52,715

66,420

35,686

18,321

4,491,839

2,680,768

421,892

2,007,701

808,209

2,101,081

23,890

8,673

2,717

1,035

(2,183)

1,136,497

4,660,393

2,736,200

424,694

2,137,709

811,902

2,136,767

444,979

444,541

271,771

53,192

222,106

104,702

231,326

80,097

120,028

73,379

14,362

59,970

28,270

62,459

3,051

23,115

14,132

2,766

11,549

5,444

12,029

14,723

22,472

14,006

3,429

11,327

6,053

12,480

3,024

4,735

2,947

611

2,350

1,193

2,592

7,286

10,767

6,539

1,249

5,364

2,554

5,362

2,151

3,370

2,070

441

1,675

834

1,832

58,281

51,180

36,484

18,974

32,599

27,184

28,088

17,718

2,029

1,995

5,050

2,236

2,035

852

15,448

9,821

1,537

1,782

2,630

4,830

125,459

216,968

133,378

20,952

107,940

48,706

114,811

17,718

2,029

1,995

5,050

2,236

2,035

852

5,149

3,274

512

594

877

1,610

26,263

22,919

22,736

15,344

22,157

15,398

14,020

8,865

13,534

8,317

1,737

6,701

3,313

7,281

4,086

4,354

4,294

2,351

3,998

2,554

3,332

936

1,464

913

177

727

348

767

2,903

4,449

2,748

719

2,230

1,255

2,648

838,137

961,049

599,753

148,780

498,672

258,318

500,731

298,360

3,699,344

2,136,447

275,914

1,639,037

553,584

1,636,036

6,521,979

(459,995)

26,052

2,226

293,151

25,091

(99,699)

16,850

(29,387)

6,509,442

(459,995)

26,052

2,226

293,151

25,091

(99,699)

7,601,906

(2,232,739)

(1,259,994)

(362,035)

(1,936,861)

(662,152)

(59,860)

14,111,348

(2,692,734)

(1,233,942)

(359,809)

(1,643,710)

(637,061)

(159,559)

$ 14,409,708

$ 1,006,610

$ 902,505

$ (83,895)

$ (4,673)

$ (83,477)

$ 1,476,477

Statements of Changes in Net Assets

	Huntington Florida Tax-Free *Money Market Fund*		*Huntington* *Money Market Fund*
	*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*

	*(unaudited)*			*(unaudited)*
*Increase (Decrease) in Net Assets:*
*Operations*--
Net investment income	$ 523,294	$ 842,641		$ 20,647,947	$ 32,524,343
Net realized gain (loss) on investments and options	(2,197)	(4,861)		(105)	(921)
Net change in unrealized appreciation/depreciation of investments and options	--	--		--	--

Change in net assets resulting from operations	521,097	837,780		20,647,842	32,523,422

*Distributions to Shareholders*--
From and/or in excess of net investment income:
Trust Shares	(361,368)	(578,414)		(11,073,802)	(19,505,375)
Investment A Shares	(161,928)	(264,227)		(8,683,164)	(11,371,819)
Investment B Shares	--	--		(1,448)	(2,500)
Interfund Shares	--	--		(889,533)	(1,648,798)
From net realized gain on investments:
Trust Shares	--	--		--	--
Investment A Shares	--	--		--	--
Investment B Shares	--	--		--	--

Change in net assets resulting from distributions to shareholders	(523,296)	(842,641)		(20,647,947)	(32,528,492)

Change in net assets resulting from capital transactions	(6,785,827)	5,267,157		27,406,242	155,392,517

Change in net assets	(6,788,026)	5,262,296		27,406,137	155,387,447
*Net Assets:*
Beginning of period	39,566,054	34,303,758		947,612,501	792,225,054

End of period	$ 32,778,028	$ 39,566,054		$ 975,018,638	$ 947,612,501


Accumulated net investment income (loss) included in net assets at end of period	$ --	$ 2		$ --	$ --

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

Huntington Ohio Municipal *Money Market Fund*		*Huntington U.S. Treasury* *Money Market Fund*			*Huntington Dividend* *Capture Fund*
*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*

*(unaudited)*			*(unaudited)*			*(unaudited)*

$ 2,539,981	$ 4,252,664		$ 14,904,299	$ 25,333,442		$ 2,352,321	$ 4,309,658
(2,750)	(9,206)		2,843	2,611		5,647,469	7,774,068
--	--		--	--		(6,040,570)	7,301,887

2,537,231	4,243,458		14,907,142	25,336,053		1,959,220	19,385,613



(1,167,162)	(1,977,683)		(13,193,211)	(21,929,564)		(1,717,565)	(3,505,512)
(1,372,819)	(2,274,981)		(1,711,088)	(3,403,878)		(163,238)	(333,165)
--	--		--	--		(208,526)	(481,070)
--	--		--	--		--	--

--	--		--	--		(1,440,869)	(4,993,977)
--	--		--	--		(152,044)	(484,030)
--	--		--	--		(231,767)	(833,889)

(2,539,981)	(4,252,664)		(14,904,299)	(25,333,442)		(3,914,009)	(10,631,643)

(10,218,425)	22,481,302		78,988,779	19,069,736		3,464,864	13,181,264

(10,221,175)	22,472,096		78,991,622	19,072,347		1,510,075	21,935,234

203,870,872	181,398,776		604,460,813	585,388,466		142,659,228	120,723,994

$ 193,649,697	$ 203,870,872		$ 683,452,435	$ 604,460,813		$ 144,169,303	$ 142,659,228


$ --	$ --		$ (3,321)	$ (3,321)		$ 331,152	$ 68,160

Statements of Changes in Net Assets (continued)

	Huntington Florida Tax-Free *Money Market Fund*			*Huntington* *Money Market Fund*
		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*

		*(unaudited)*			*(unaudited)*
*Capital Transactions:*
Trust Shares
Shares issued		$ 25,670,964	$ 54,272,927		$ 574,887,695	$ 1,336,306,384
Dividends reinvested		--	--		49,514	70,941
Shares redeemed		(25,386,741)	(51,296,857)		(582,909,649)	(1,373,341,920)

Total Trust Shares		284,223	2,976,070		(7,972,440)	(36,964,595)

Investment A Shares
Shares issued		8,890,160	18,214,125		536,540,321	875,466,126
Dividends reinvested		3,024	9,899		2,900,539	4,484,180
Shares redeemed		(15,963,234)	(15,932,937)		(498,656,081)	(693,205,267)

Total Investment A Shares		(7,070,050)	2,291,087		40,784,779	186,745,039

Investment B Shares
Shares issued		--	--		4,558	72,208
Dividends reinvested		--	--		1,448	2,416
Shares redeemed		--	--		(65,747)	(9)

Total Investment B Shares		--	--		(59,741)	74,615

Interfund Shares
Shares issued		--	--		133,180,283	249,312,617
Dividends reinvested		--	--		5	--
Shares redeemed		--	--		(138,526,644)	(243,775,159)

Total Interfund Shares		--	--		(5,346,356)	5,537,458

Net change resulting from capital transactions		$ (6,785,827 )	$ 5,267,157		$ 27,406,242	$ 155,392,517

*Share Transactions:*
Trust Shares
Shares issued		25,670,964	54,272,927		574,887,696	1,336,306,384
Dividends reinvested		--	--		49,514	70,941
Shares redeemed		(25,386,741)	(51,296,857)		(582,909,649)	(1,373,341,920)

Total Trust Shares		284,223	2,976,070		(7,972,439)	(36,964,595)

Investment A Shares
Shares issued		8,890,160	18,214,438		536,540,321	875,466,127
Dividends reinvested		3,025	9,899		2,900,539	4,484,180
Shares redeemed		(15,963,234)	(15,932,937)		(498,656,081)	(693,205,267)

Total Investment A Shares		(7,070,049)	2,291,400		40,784,779	186,745,022

Investment B Shares
Shares issued		--	--		4,558	72,208
Dividends reinvested		--	--		1,448	2,416
Shares redeemed		--	--		(65,747)	(9)

Total Investment B Shares		--	--		(59,741)	74,615

Interfund Shares
Shares issued		--	--		133,180,283	249,312,616
Dividends reinvested		--	--		5	--
Shares redeemed		--	--		(138,526,644)	(243,775,159)

Total Interfund Shares		--	--		(5,346,356)	5,537,457

Net change resulting from share transactions		(6,785,826)	5,267,470		27,406,243	155,392,499

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

*Huntington Ohio Municipal* *Money Market Fund*		*Huntington U.S. Treasury* *Money Market Fund*			*Huntington Dividend* *Capture Fund*
*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*

*(unaudited)*			*(unaudited)*			*(unaudited)*


$ 133,758,710	$ 225,362,718		$ 1,281,169,495	$ 2,470,525,327		$ 8,344,520	$ 19,074,925
3,003	6,107		--	--		1,765,984	4,696,612
(141,600,698)	(214,958,103)		(1,223,225,661)	(2,433,857,972)		(6,921,231)	(11,017,057)

(7,838,985)	10,410,722		57,943,834	36,667,355		3,189,273	12,754,480


142,908,753	300,720,811		93,644,087	115,757,663		1,718,373	1,935,780
87,059	212,544		728,037	2,149,999		281,761	708,045
(145,375,252)	(288,862,775)		(73,327,179)	(135,505,281)		(1,047,169)	(2,021,813)

(2,379,440)	12,070,580		21,044,945	(17,597,619)		952,965	622,012


--	--		--	--		755,202	691,598
--	--		--	--		410,253	1,217,679
--	--		--	--		(1,842,829)	(2,104,505)

--	--		--	--		(677,374)	(195,228)


--	--		--	--		--	--
--	--		--	--		--	--
--	--		--	--		--	--
--	--		--	--		--	--

$ (10,218,425 )	$ 22,481,302		$ 78,988,779	$ 19,069,736		$ 3,464,864	$ 13,181,264



133,758,710	225,362,717		1,281,169,495	2,470,525,329		713,569	1,674,307
3,004	6,107		--	--		150,556	406,928
(141,600,698)	(214,958,103)		(1,223,225,661)	(2,433,857,972)		(590,984)	(970,751)

(7,838,984)	10,410,721		57,943,834	36,667,357		273,141	1,110,484


142,908,753	300,720,812		93,644,087	115,757,662		146,440	168,128
87,059	212,543		728,037	2,149,999		24,015	61,372
(145,375,252)	(288,862,775)		(73,327,179)	(135,505,281)		(89,391)	(178,344)

(2,379,440)	12,070,580		21,044,945	(17,597,620)		81,064	51,156


--	--		--	--		64,736	60,550
--	--		--	--		35,039	105,735
--	--		--	--		(158,540)	(187,138)

--	--		--	--		(58,765)	(20,853)


--	--		--	--		--	--
--	--		--	--		--	--
--	--		--	--		--	--

--	--		--	--		--	--

(10,218,424)	22,481,301		78,988,779	19,069,737		295,440	1,140,787

Statements of Changes in Net Assets

	*Huntington* *Growth Fund*			*Huntington Income* *Equity Fund*
		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*

		*(unaudited)*			*(unaudited)*
*Increase (Decrease) in Net Assets:*
*Operations*--
Net investment income (loss)		$ 409,816	$ 475,920		$ 1,512,156	$ 3,599,038
Net realized gain on investments, options and foreign currency transactions		43,018,149	26,408,573		31,586,484	18,513,883
Net change in unrealized appreciation/depreciation of investments, options, and translation of assets and liabilities in foreign currency		(26,941,490)	(7,042,950)		(17,389,967)	74,864

Change in net assets resulting from operations		16,486,475	19,841,543		15,708,673	22,187,785

*Distributions to Shareholders*--
From and/or in excess of net investment income:
Trust Shares		(2,388)	(473,533)		(1,424,549)	(3,415,282)
Investment A Shares		--	--		(41,622)	(96,153)
Investment B Shares		--	--		(35,345)	(87,135)
From net realized gain on investments:
Trust Shares		(4,809,950)	(30,793,313)		--	(17,632,120)
Investment A Shares		(193,696)	(1,298,208)		--	(554,441)
Investment B Shares		(124,382)	(811,572)		--	(747,675)

Change in net assets resulting from distributions to shareholders		(5,130,416)	(33,376,626)		(1,501,516)	(22,532,806)

Change in net assets resulting from capital transactions		(2,164,004)	(1,062,019)		(7,369,266)	(8,073,120)

Change in net assets		9,192,055	(14,597,102)		6,837,891	(8,418,141)
*Net Assets:*
Beginning of period		237,990,267	252,587,369		200,131,850	208,549,991

End of period		$ 247,182,322	$ 237,990,267		$ 206,969,741	$ 200,131,850


Accumulated net investment income (loss) included in net assets at end of period		$ 423,766	$ 16,338		$ 119,657	$ 109,017

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

*Huntington International* *Equity Fund*		*Huntington* *Macro 100 Fund*			*Huntington Mid Corp* *America Fund*
*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*

*(unaudited)*			*(unaudited)*			*(unaudited)*


$ 1,589,786	$ 1,760,445		$ (5,608)	$ (4,717)		$ (72,330)	$ 46,315
4,443,214	24,169,433		2,748,133	3,392,055		8,429,808	4,389,606
24,751,879	31,301,717		(130,399)	935,240		10,524,378	8,178,910

30,784,879	57,231,595		2,612,126	2,452,098		18,881,856	12,614,831



(246,799)	(1,444,995)		--	--		(3,689)	(46,261)
(1,068)	(28,684)		--	--		--	--
--	(1,653)		--	--		--	--

(6,447,655)	(17,910,960)		(2,179,693)	(851,392)		(1,256,453)	(2,646,883)
(191,281)	(409,486)		(174,072)	(63,408)		(42,457)	(87,663)
(65,270)	(151,220)		(123,750)	(41,666)		(71,912)	(152,600)

(6,952,073)	(19,946,998)		(2,477,515)	(956,466)		(1,374,511)	(2,933,407)

23,279,825	44,352,546		(3,429,323)	17,708,652		(5,455,245)	(5,781,673)

47,112,631	81,637,143		(3,294,712)	19,204,284		12,052,100	3,899,751

275,388,126	193,750,983		48,023,500	28,819,216		164,274,589	160,374,838

$ 322,500,757	$ 275,388,126		$ 44,728,788	$ 48,023,500		$ 176,326,689	$ 164,274,589


$ 1,589,786	$ 247,867		$ (5,608)	$ --		$ (72,324)	$ 3,695

Statements of Changes in Net Assets (continued)

	*Huntington* *Growth Fund*			*Huntington Income* *Equity Fund*
		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*

		*(unaudited)*			*(unaudited)*
*Capital Transactions:*
Trust Shares
Shares issued		$ 14,465,512	$ 21,502,207		$ 7,513,932	$ 15,140,041
Dividends reinvested		2,376,039	14,568,355		667,770	9,383,335
Shares redeemed		(18,383,959)	(36,227,129)		(15,428,310)	(32,275,011)

Total Trust Shares		(1,542,408)	(156,567)		(7,246,608)	(7,751,635)

Investment A Shares
Shares issued		454,193	611,966		743,387	1,301,261
Dividends reinvested		185,583	1,241,931		39,932	629,601
Shares redeemed		(1,008,222)	(2,701,388)		(533,699)	(1,993,421)

Total Investment A Shares		(368,446)	(847,491)		249,620	(62,559)

Investment B Shares
Shares issued		191,558	308,338		295,256	476,920
Dividends reinvested		123,079	796,994		34,475	809,182
Shares redeemed		(567,787)	(1,163,293)		(702,009)	(1,545,028)

Total Investment B Shares		(253,150)	(57,961)		(372,278)	(258,926)

Net change resulting from capital transactions		$ (2,164,004 )	$ (1,062,019 )		$ (7,369,266)	$ (8,073,120)

*Share Transactions:*
Trust Shares
Shares issued		377,298	549,754		233,489	474,076
Dividends reinvested		60,629	385,961		20,587	299,491
Shares redeemed		(478,654)	(913,333)		(478,904)	(1,002,778)

Total Trust Shares		(40,727)	22,382		(224,828)	(229,211)

Investment A Shares
Shares issued		11,985	15,570		23,027	40,865
Dividends reinvested		4,817	33,436		1,230	20,100
Shares redeemed		(26,797)	(69,496)		(16,520)	(61,844)

Total Investment A Shares		(9,995)	(20,490)		7,737	(879)

Investment B Shares
Shares issued		5,303	8,180		9,254	15,021
Dividends reinvested		3,344	22,338		1,063	25,981
Shares redeemed		(15,771)	(31,156)		(21,774)	(48,235)

Total Investment B Shares		(7,124)	(638)		(11,457)	(7,233)

Net change resulting from share transactions		(57,846)	1,254		(228,548)	(237,323)

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

*Huntington International* *Equity Fund*		*Huntington* *Macro 100 Fund*			*Huntington Mid Corp* *America Fund*
*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*

*(unaudited)*			*(unaudited)*			*(unaudited)*


$ 39,467,462	$ 54,721,766		$ 11,296,658	$ 20,283,939		$ 7,323,241	$ 13,196,944
2,806,297	7,580,979		1,347,607	504,966		478,115	1,020,518
(21,986,840)	(22,336,375)		(16,093,504)	(4,518,325)		(12,698,342)	(19,784,334)

20,286,919	39,966,370		(3,449,239)	16,270,580		(4,896,986)	(5,566,872)


2,725,218	4,209,435		358,371	1,780,837		509,160	1,061,203
177,637	391,925		167,564	60,981		37,991	77,094
(457,650)	(1,142,135)		(635,667)	(904,771)		(634,648)	(1,061,353)

2,445,205	3,459,225		(109,732)	937,047		(87,497)	76,944


613,913	919,489		188,795	621,916		417,405	629,783
62,659	145,102		117,820	39,466		70,002	148,717
(128,871)	(137,640)		(176,967)	(160,357)		(958,169)	(1,070,245)

547,701	926,951		129,648	501,025		(470,762)	(291,745)

$ 23,279,825	$ 44,352,546		$ (3,429,323)	$ 17,708,652		$ (5,455,245 )	$ (5,781,673 )



2,765,818	4,162,908		947,361	1,727,097		421,162	831,159
191,165	546,381		114,592	42,290		26,488	61,412
(1,514,095)	(1,692,640)		(1,345,655)	(382,322)		(723,048)	(1,242,185)

1,442,888	3,016,649		(283,702)	1,387,065		(275,398)	(349,614)


190,494	319,476		30,173	153,718		29,498	67,429
12,192	28,433		14,371	5,142		2,138	4,709
(32,092)	(87,261)		(53,554)	(78,759)		(37,019)	(68,216)

170,594	260,648		(9,010)	80,101		(5,383)	3,922


44,027	70,387		16,157	52,903		25,292	41,127
4,391	10,771		10,236	3,365		4,060	9,342
(9,095)	(10,583)		(15,175)	(13,812)		(57,447)	(70,141)

39,323	70,575		11,218	42,456		(28,095)	(19,672)

1,652,805	3,347,872		(281,494)	1,509,622		(308,876)	(365,364)

Statements of Changes in Net Assets

	*Huntington New* *Economy Fund*			*Huntington* Real Strategies Fund
		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*	*Period* *Ended* *June 30,* *2007(1)***

		*(unaudited)*		*(unaudited)*
*Increase (Decrease) in Net Assets:*
*Operations*--
Net investment income (loss)		$ 145,243	$ (444,434)	$ 39,880
Net realized gain (loss) on investments, options and foreign currency transactions		13,559,562	7,429,178	(60,475)
Net change in unrealized appreciation/depreciation of investments, options, and translation of assets and liabilities in foreign currency		395,043	1,863,722	443,852

Change in net assets resulting from operations		14,099,848	8,848,466	423,257

*Distributions to Shareholders*--
From and/or in excess of net investment income:
Trust Shares		--	--	--
Investment A Shares		--	--	--
Investment B Shares		--	--	--
From net realized gain on investments:
Trust Shares		(355,725)	(7,575,059)	--
Investment A Shares		(31,717)	(657,695)	--
Investment B Shares		(15,599)	(336,999)	--

Change in net assets resulting from distributions to shareholders		(403,041)	(8,569,753)	--

Change in net assets resulting from capital transactions		5,480,795	21,337,362	23,120,168

Change in net assets		19,177,602	21,616,075	23,543,425
*Net Assets:*
Beginning of period		110,623,527	89,007,452	--

End of period		$ 129,801,129	$ 110,623,527	$ 23,543,425

Accumulated net investment income (loss) included in net assets at end of period		$ 165,819	$ 20,576	$ 39,880

( 1) Reflects operations for the period from May 1, 2007 (date of commencement of operations) to June 30, 2007.

( 2) Reflects operations for the period from May 1, 2007 (date of commencement of operations) to June 30, 2007 for Investment B Shares.

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

*Huntington Rotating* *Markets Fund*		*Huntington Situs* *Small Cap Fund*			*Huntington Fixed* *Income Securities Fund*
*Six Months* *Ended* *June 30,* *2007(2)***	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*

*(unaudited)*			*(unaudited)*			*(unaudited)*


$ (42,178)	$ 437,161		$ 298,360	$ (385,710)		$ 3,699,344	$ 6,720,751
1,719,266	1,926,282		6,509,442	6,118,068		(459,995)	7,789
3,032,230	4,836,497		7,601,906	3,976,382		(2,232,739)	(164,863)

4,709,318	7,199,940		14,409,708	9,708,740		1,006,610	6,563,677



(1,230)	(410,535)		--	--		(3,623,870)	(6,485,681)
--	(25,393)		--	--		(31,847)	(60,701)
(2)	--		--	--		(44,973)	(89,747)

(59,615)	(665,151)		(1,329,781)	(4,964,200)		(32,535)	--
(5,338)	(50,247)		(190,818)	(619,016)		(300)	--
(4)	--		(56,086)	(204,839)		(481)	--

(66,189)	(1,151,326)		(1,576,685)	(5,788,055)		(3,734,006)	(6,636,129)

4,893,884	11,389,638		13,897,164	12,776,758		3,614,002	4,355,985

9,537,013	17,438,252		26,730,187	16,697,443		886,606	4,283,533

48,598,274	31,160,022		104,615,789	87,918,346		177,814,611	173,531,078

$ 58,135,287	$ 48,598,274		$ 131,345,976	$ 104,615,789		$ 178,701,217	$ 177,814,611


$ (42,177)	$ 1,233		$ 298,360	$ --		$ (1,346)	$ --

Statements of Changes in Net Assets (continued)

	*Huntington New* *Economy Fund*			*Huntington* *Real Strategies Fund*
		*Six Months Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*	*Period* *Ended* *June 30,* *2007(1)***

		*(unaudited)*		*(unaudited)*
*Capital Transactions:*
Trust Shares
Shares issued		$ 12,257,123	$ 25,270,353	$ 22,951,204
Dividends reinvested		221,432	4,711,772	--
Shares redeemed		(7,546,693)	(12,353,028)	(241,625)

Total Trust Shares		4,931,862	17,629,097	22,709,579

Investment A Shares
Shares issued		1,392,782	3,680,844	380,951
Dividends reinvested		31,370	650,597	--
Shares redeemed		(986,000)	(1,472,282)	--

Total Investment A Shares		438,152	2,859,159	380,951

Investment B Shares
Shares issued		392,323	925,818	29,638
Dividends reinvested		15,277	330,112	--
Shares redeemed		(296,819)	(406,824)	--

Total Investment B Shares		110,781	849,106	29,638

Net change resulting from capital transactions		$ 5,480,795	$ 21,337,362	$ 23,120,168

*Share Transactions:*
Trust Shares
Shares issued		715,271	1,542,955	2,287,990
Dividends reinvested		12,426	291,092	--
Shares redeemed		(439,217)	(752,522)	(23,975)

Total Trust Shares		288,480	1,081,525	2,264,015

Investment A Shares
Shares issued		82,906	225,196	37,555
Dividends reinvested		1,787	40,750	--
Shares redeemed		(58,833)	(90,382)	--

Total Investment A Shares		25,860	175,564	37,555

Investment B Shares
Shares issued		23,985	58,570	2,913
Dividends reinvested		901	21,353	--
Shares redeemed		(18,453)	(25,898)	--

Total Investment B Shares		6,433	54,025	2,913

Net change resulting from share transactions		320,773	1,311,114	2,304,483

(1) Reflects operations for the period from May 1, 2007 (date of commencement of operations) to June 30, 2007.

(2) Reflects operations for the period from May 1, 2007 (date of commencement of operations) to June 30, 2007 for Investment B Shares.

^ Represents less than 0.500 shares.

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

*Huntington Rotating* *Markets Fund*		*Huntington Situs* *Small Cap Fund*			*Huntington Fixed* *Income Securities Fund*
*Six Months* *Ended* *June 30,* *2007(2)***	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*

*(unaudited)*			*(unaudited)*			*(unaudited)*


$ 6,956,300	$ 12,219,672		$ 19,331,158	$ 23,630,553		$ 16,589,810	$ 30,202,057
35,960	652,196		739,459	2,768,672		1,635,738	2,762,217
(2,904,520)	(2,629,141)		(9,375,647)	(21,077,005)		(14,202,292)	(28,361,470)

4,087,740	10,242,727		10,694,970	5,322,220		4,023,256	4,602,804


1,443,178	1,757,893		4,396,557	8,149,102		229,390	417,427
5,250	73,867		186,826	601,331		28,475	56,133
(645,730)	(684,849)		(1,813,495)	(2,265,395)		(316,625)	(465,954)

802,698	1,146,911		2,769,888	6,485,038		(58,760)	7,606


3,440	--		578,665	1,191,977		22,776	221,143
6	--		53,864	199,032		38,143	74,644
--	--		(200,223)	(421,509)		(411,413)	(550,212)

3,446	--		432,306	969,500		(350,494)	(254,425)

$ 4,893,884	$ 11,389,638		$ 13,897,164	$ 12,776,758		$ 3,614,002	$ 4,355,985



503,850	989,557		899,662	1,182,494		801,268	1,477,584
2,497	48,742		33,581	137,211		78,987	134,729
(207,074)	(209,750)		(433,926)	(1,058,913)		(686,435)	(1,384,465)

299,273	828,549		499,317	260,792		193,820	227,848


106,194	142,098		209,498	406,002		11,130	20,328
367	5,562		8,590	30,113		1,375	2,740
(46,209)	(56,194)		(85,514)	(115,267)		(15,336)	(22,826)

60,352	91,466		132,574	320,848		(2,831)	242


245	--		27,828	61,419		1,100	10,865
-- ^	--		2,542	10,193		1,844	3,645
--	--		(9,574)	(21,764)		(19,935)	(26,921)

245	--		20,796	49,848		(16,991)	(12,411)

359,870	920,015		652,687	631,488		173,998	215,679

Statements of Changes in Net Assets

	*Huntington Intermediate* *Government Income Fund*			*Huntington Michigan* *Tax-Free Fund*
		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*

		*(unaudited)*			*(unaudited)*
*Increase (Decrease) in Net Assets:*
*Operations*--
Net investment income		$ 2,136,447	$ 4,147,367		$ 275,914	$ 632,786
Net realized gain (loss) on investments		26,052	(342,210)		2,226	(75,302)
Net change in unrealized appreciation/depreciation of investments		(1,259,994)	46,249		(362,035)	667

Change in net assets resulting from operations		902,505	3,851,406		(83,895)	558,151

*Distributions to Shareholders*--
From and/or in excess of net investment income:
Trust Shares		(2,106,046)	(4,101,958)		(233,333)	(503,811)
Investment A Shares		(29,489)	(72,146)		(51,229)	(104,849)
Investment B Shares		(6,550)	(14,249)		(4,861)	(10,617)
From net realized gain on investments:
Trust Shares		--	(12,858)		--	--
Investment A Shares		--	(224)		--	--
Investment B Shares		--	(58)		--	--

Change in net assets resulting from distributions to shareholders		(2,142,085)	(4,201,493)		(289,423)	(619,277)

Change in net assets resulting from capital transactions		6,354,656	(678,397)		(1,690,199)	(5,552,285)

Change in net assets		5,115,076	(1,028,484)		(2,063,517)	(5,613,411)
*Net Assets:*
Beginning of period		110,328,348	111,356,832		22,035,505	27,648,916

End of period		$ 115,443,424	$ 110,328,348		$ 19,971,988	$ 22,035,505

Accumulated net investment income (loss) included in net assets at end of period		$ (14,719)	$ (9,081)		$ --	$ 13,509

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

*Huntington Mortgage* *Securities Fund*		*Huntington* *Ohio Tax-Free Fund*			Huntington Short/Intermediate *Fixed Income Securities Fund*
*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*

*(unaudited)*			*(unaudited)*			*(unaudited)*


$ 1,639,037	$ 3,165,505		$ 553,584	$ 1,353,583		$ 1,636,036	$ 3,451,466
293,151	540,334		25,091	29,148		(99,699)	(1,381,097)
(1,936,861)	1,426,922		(662,152)	(185,288)		(59,860)	1,947,534

(4,673)	5,132,761		(83,477)	1,197,443		1,476,477	4,017,903



(1,575,175)	(3,086,388)		(521,358)	(1,270,448)		(1,624,837)	(3,421,523)
(30,249)	(57,159)		(19,785)	(54,578)		(11,199)	(29,942)
(9,726)	(19,201)		(12,441)	(28,556)		--	--

--	(546,641)		--	--		--	--
--	(10,469)		--	--		--	--
--	(4,305)		--	--		--	--

(1,615,150)	(3,724,163)		(553,584)	(1,353,582)		(1,636,036)	(3,451,465)

1,886,226	2,469,409		(4,528,932)	(6,819,713)		(6,627,791)	(26,983,461)

266,403	3,878,007		(5,165,993)	(6,975,852)		(6,787,350)	(26,417,023)

88,351,056	84,473,049		43,341,798	50,317,650		96,179,767	122,596,790

$ 88,617,459	$ 88,351,056		$ 38,175,805	$ 43,341,798		$ 89,392,417	$ 96,179,767

$ 100,962	$ 77,075		$ 1	$ 1		$ (1,058)	$ (1,058)

Statements of Changes in Net Assets (continued)

	*Huntington Intermediate* Government Income Fund		*Huntington Michigan* *Tax-Free Fund*
	*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*

	*(unaudited)*			*(unaudited)*
*Capital Transactions:*
Trust Shares
Shares issued	$ 18,308,807	$ 15,806,272		$ 1,335,087	$ 1,187,339
Dividends reinvested	853,021	1,693,135		17,886	23,362
Shares redeemed	(12,875,186)	(16,017,072)		(2,819,149)	(5,950,125)

Total Trust Shares	6,286,642	1,482,335		(1,466,176)	(4,739,424)

Investment A Shares
Shares issued	183,755	51,279		115,318	224,103
Dividends reinvested	26,862	67,183		44,003	88,904
Shares redeemed	(129,908)	(2,215,967)		(354,290)	(977,397)

Total Investment A Shares	80,709	(2,097,505)		(194,969)	(664,390)

Investment B Shares
Shares issued	13,600	96,203		47,305	46,139
Dividends reinvested	6,532	13,533		4,860	10,589
Shares redeemed	(32,827)	(172,963)		(81,219)	(205,199)

Total Investment B Shares	(12,695)	(63,227)		(29,054)	(148,471)

Net change resulting from capital transactions	$ 6,354,656	$ (678,397)		$ (1,690,199)	$ (5,552,285)

*Share Transactions:*
Trust Shares
Shares issued	1,801,580	1,551,836		126,750	112,696
Dividends reinvested	83,372	166,341		1,705	2,220
Shares redeemed	(1,255,771)	(1,573,376)		(267,645)	(567,109)

Total Trust Shares	629,181	144,801		(139,190)	(452,193)

Investment A Shares
Shares issued	17,910	5,627		10,934	21,147
Dividends reinvested	2,625	6,023		4,194	8,452
Shares redeemed	(12,681)	(216,344)		(33,574)	(93,347)

Total Investment A Shares	7,854	(204,694)		(18,446)	(63,478)

Investment B Shares
Shares issued	1,322	9,421		4,508	4,362
Dividends reinvested	638	1,329		463	1,007
Shares redeemed	(3,202)	(17,108)		(7,749)	(19,440)

Total Investment B Shares	(1,242)	(6,358)		(2,778)	(14,071)

Net change resulting from share transactions	635,793	(66,251)		(160,414)	(530,012)

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

*Huntington Mortgage* *Securities Fund*		*Huntington* *Ohio Tax-Free Fund*			Huntington Short/Intermediate *Fixed Income Securities Fund*
*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*		*Six Months* *Ended* *June 30,* *2007*	*Year Ended* *December 31,* *2006*

*(unaudited)*			*(unaudited)*			*(unaudited)*


$ 5,407,710	$ 7,886,759		$ 2,441,813	$ 6,378,380		$ 2,529,308	$ 5,750,143
774,438	1,798,132		30,229	69,149		675,131	1,281,382
(4,658,918)	(7,010,023)		(6,816,013)	(11,556,594)		(9,900,961)	(31,176,682)

1,523,230	2,674,868		(4,343,971)	(5,109,065)		(6,696,522)	(24,145,157)


442,772	324,779		27,847	59,400		146,522	99,721
24,680	59,124		16,716	40,062		10,002	22,214
(180,085)	(552,588)		(142,633)	(1,627,346)		(87,793)	(2,960,239)

287,367	(168,685)		(98,070)	(1,527,884)		68,731	(2,838,304)


80,322	73,260		200	52,757		--	--
9,581	23,209		11,336	27,015		--	--
(14,274)	(133,243)		(98,427)	(262,536)		--	--

75,629	(36,774)		(86,891)	(182,764)		--	--

$ 1,886,226	$ 2,469,409		$ (4,528,932)	$ (6,819,713)		$ (6,627,791)	$ (26,983,461)



599,209	886,057		117,537	306,154		131,258	300,371
85,799	201,299		1,457	3,327		35,019	66,869
(516,103)	(785,114)		(329,360)	(555,415)		(513,869)	(1,625,082)

168,905	302,242		(210,366)	(245,934)		(347,592)	(1,257,482)


48,616	36,323		1,340	2,868		7,617	5,200
2,720	6,586		806	1,927		519	1,159
(19,888)	(61,700)		(6,871)	(78,044)		(4,553)	(154,740)

31,448	(18,791)		(4,725)	(73,249)		3,583	(148,381)


8,880	8,188		10	2,561		--	--
1,060	2,595		546	1,421		--	--
(1,591)	(15,002)		(4,749)	(12,814)		--	--

8,349	(4,219)		(4,193)	(8,832)		--	--

208,702	279,232		(219,284)	(323,402)		(344,009)	(1,405,863)

Financial Highlights

Money Market Funds

(For a share outstanding throughout each period)

Year Ended December 31,

Net Asset
Value,
beginning
of period

Net
investment
income

Net realized
and unrealized
gain (loss) on
investments

Total from
investment
operations

Distributions
from net
investment
income

Total
distributions

HUNTINGTON FLORIDA TAX-FREE MONEY MARKET FUND

Trust Shares

2002

$1.00

0.01

(0.01)

2003

$1.00

--(1)

2004

$1.00

--(1)

2005

$1.00

0.01

(0.01)

2006

$1.00

0.02

--(1)

0.02

(0.02)

2007(2)

$1.00

0.01

(0.01)

Investment A Shares

2002

$1.00

--(1)

2003

$1.00

--(1)

2004

$1.00

--(1)

2005

$1.00

0.01

(0.01)

2006

$1.00

0.02

--(1)

0.02

(0.02)

2007(2)

$1.00

0.01

(0.01)

HUNTINGTON MONEY MARKET FUND

Trust Shares

2002

$1.00

0.01

(0.01)

2003

$1.00

--(1)

2004

$1.00

0.01

(0.01)

2005

$1.00

0.02

(0.02)

2006

$1.00

0.04

--(1)

0.04

(0.04)

2007(2)

$1.00

0.02

(0.02)

Investment A Shares

2002

$1.00

0.01

(0.01)

2003

$1.00

--(1)

2004

$1.00

--(1)

2005

$1.00

0.02

(0.02)

2006

$1.00

0.04

--(1)

0.04

(0.04)

2007(2)

$1.00

0.02

(0.02)

Investment B Shares

2002

$1.00

--(1)

2003

$1.00

0.01

(0.01)

2004

$1.00

0.01

(0.01)

2005

$1.00

0.02

(0.02)

2006

$1.00

0.03

--(1)

0.03

(0.03)

2007(2)

$1.00

0.02

(0.02)

Inter Fund Shares

2002

$1.00

0.01

(0.01)

2003

$1.00

0.01

(0.01)

2004

$1.00

0.01

(0.01)

2005

$1.00

0.03

(0.03)

2006

$1.00

0.04

--(1)

0.04

(0.04)

2007(2)

$1.00

0.02

(0.02)

(1) Amount is less than $0.005.

(2) Six months ended June 30, 2007 (Unaudited).

(3) Not annualized.

(4) Computed on an annualized basis.

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

Ratios to average net assets

Net Asset
Value, end
of period

Total
return

Ratio of Net
Expenses to
Average Net
Assets

Ratio of Net
Investment
Income to
Average Net
Assets

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

Ratio of Net
Investment Income
(Prior to
Reimbursements)
to Average
Net Assets

Net Assets,
at end of
period
(000 omitted)

$1.00

0.61%

0.98%

0.59%

0.98%

0.59%

$20,357

$1.00

0.25%

0.85%

0.25%

0.97%

0.13%

$19,539

$1.00

0.32%

0.90%

0.34%

1.00%

0.24%

$19,247

$1.00

1.46%

0.92%

1.44%

0.96%

1.40%

$22,388

$1.00

2.48%

0.93%

2.46%

0.93%

2.46%

$25,361

$1.00

1.37%(3)

0.91%(4)

2.75%(4)

0.91%(4)

2.75%(4)

$25,643

$1.00

0.37%

1.24%

0.36%

1.24%

0.36%

$5,921

$1.00

0.24%

0.85%

0.24%

1.22%

(0.13)%

$7,584

$1.00

0.25%

0.97%

0.25%

1.25%

(0.03)%

$7,279

$1.00

1.21%

1.17%

1.21%

1.13%

$11,916

$1.00

2.23%

1.18%

2.22%

1.18%

2.22%

$14,205

$1.00

1.24%(3)

1.16%(4)

2.49%(4)

1.16%(4)

2.49%(4)

$7,135

$1.00

0.96%

0.81%

0.95%

0.81%

0.95%

$423,189

$1.00

0.33%

0.82%

0.33%

0.83%

0.32%

$366,116

$1.00

0.53%

0.83%

0.53%

0.83%

0.53%

$440,112

$1.00

2.39%

0.81%

2.39%

0.82%

2.38%

$537,134

$1.00

4.20%

0.82%

4.12%

0.82%

4.12%

$500,167

$1.00

2.22%(3)

0.81%(4)

4.44%(4)

0.81%(4)

4.44%(4)

$492,194

$1.00

0.70%

1.06%

0.70%

1.06%

0.70%

$292,379

$1.00

0.24%

0.91%

0.24%

1.08%

0.07%

$244,477

$1.00

0.39%

0.95%

0.38%

1.08%

0.25%

$217,570

$1.00

2.13%

1.06%

2.11%

1.07%

2.10%

$219,767

$1.00

3.94%

1.07%

3.92%

1.07%

3.92%

$406,510

$1.00

2.09%(3)

1.06%(4)

4.18%(4)

1.06%(4)

4.18%(4)

$447,294

$1.00

0.24%

1.47%

0.22%

1.56%

0.13%

$151

$1.00

0.52%

0.63%

0.54%

0.67%

0.50%

$64

$1.00

0.78%

0.58%

0.75%

1.58%

(0.25)%

$54

$1.00

2.38%

0.81%

2.39%

1.56%

1.64%

$58

$1.00

3.43%

1.57%

3.43%

1.57%

3.43%

$133

$1.00

1.84%(3)

1.56%(4)

3.68%(4)

1.56%(4)

3.68%(4)

$73

$1.00

1.21%

0.56%

1.18%

0.56%

1.18%

$26,711

$1.00

0.57%

0.58%

0.56%

0.58%

0.56%

$26,196

$1.00

0.78%

0.58%

0.82%

0.58%

0.82%

$30,004

$1.00

2.64%

0.56%

2.64%

0.57%

2.63%

$35,266

$1.00

4.46%

0.57%

4.36%

0.57%

4.36%

$40,803

$1.00

2.34%(3)

0.56%(4)

4.69%(4)

0.56%(4)

4.69%(4)

$35,457

Financial Highlights

Money Market Funds

(For a share outstanding throughout each period)

Net Asset
Value
beginning
of period

Net investment
income

Net realized
and unrealized
gain (loss)
on investments

Total from
investment
operations

Distributions
from net
investment
income

Total
distributions

HUNTINGTON OHIO MUNICIPAL MONEY MARKET FUND

Trust Shares

2002

$1.00

0.01

(0.01)

2003

$1.00

--(1)

--(1)

--(1)

2004

$1.00

--(1)

2005

$1.00

0.02

(0.02)

2006

$1.00

0.03

--(1)

0.03

(0.03)

2007(2)

$1.00

0.01

(0.01)

Investment A Shares

2002

$1.00

0.01

(0.01)

2003

$1.00

--(1)

2004

$1.00

--(1)

2005

$1.00

0.01

(0.01)

2006

$1.00

0.02

--(1)

0.02

(0.02)

2007(2)

$1.00

0.01

(0.01)

HUNTINGTON U.S. TREASURY MONEY MARKET FUND

Trust Shares

2002

$1.00

0.01

(0.01)

2003

$1.00

--(1)

2004

$1.00

0.01

(0.01)

2005

$1.00

0.02

(0.02)

2006

$1.00

0.04

--(1)

0.04

(0.04)

2007(2)

$1.00

0.02

(0.02)

Investment A Shares

2002

$1.00

0.01

(0.01)

2003

$1.00

--(1)

2004

$1.00

--(1)

2005

$1.00

0.02

(0.02)

2006

$1.00

0.04

--(1)

0.04

(0.04)

2007(2)

$1.00

0.02

(0.02)

(1) Amount is less than $0.005.

(2) Six months ended June 30, 2007 (Unaudited).

(3) Not annualized.

(4) Computed on an annualized basis.

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

Ratios to average net assets

Net Asset
Value, end
of period

Total
return

Ratio of Net
Expenses to
Average
Net Assets

Ratio of Net
Investment
Income to
Average Net
Assets

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

Ratio of Net
Investment Income
(Prior to
Reimbursements)
to Average Net
Assets

Net Assets,
at end of
period
(000 omitted)

$1.00

0.78%

0.85%

0.78%

0.85%

0.78%

$75,508

$1.00

0.31%

0.83%

0.31%

0.86%

0.28%

$67,509

$1.00

0.40%

0.86%

0.37%

0.86%

0.37%

$71,891

$1.00

1.60%

0.83%

1.60%

0.85%

1.58%

$84,799

$1.00

2.60%

0.85%

2.58%

0.85%

2.58%

$95,205

$1.00

1.40%(3)

0.85%(4)

2.81%(4)

0.85%(4)

2.81%(4)

$87,365

$1.00

0.53%

1.10%

0.54%

1.10%

0.54%

$123,208

$1.00

0.24%

0.90%

0.24%

1.11%

0.03%

$101,383

$1.00

0.29%

0.98%

0.27%

1.11%

0.14%

$105,247

$1.00

1.35%

1.08%

1.33%

1.10%

1.31%

$96,600

$1.00

2.35%

1.10%

2.33%

1.10%

2.33%

$108,666

$1.00

1.28%(3)

1.10%(4)

2.57%(4)

1.10%(4)

2.57%(4)

$106,285

$1.00

1.02%

0.73%

0.99%

0.73%

0.99%

$534,133

$1.00

0.35%

0.73%

0.34%

0.75%

0.32%

$542,771

$1.00

0.51%

0.74%

0.49%

0.74%

0.49%

$402,817

$1.00

2.31%

0.74%

2.32%

0.74%

2.32%

$499,718

$1.00

4.12%

0.74%

4.06%

0.74%

4.06%

$536,387

$1.00

2.17%(3)

0.75%(4)

4.34%(4)

0.75%(4)

4.34%(4)

$594,334

$1.00

0.77%

0.98%

0.74%

0.98%

0.74%

$51,545

$1.00

0.25%

0.84%

0.25%

1.00%

0.09%

$36,443

$1.00

0.38%

0.97%

0.34%

0.99%

0.32%

$51,046

$1.00

2.05%

0.99%

2.09%

0.99%

2.09%

$85,671

$1.00

3.86%

0.99%

3.80%

0.99%

3.80%

$68,073

$1.00

2.04%(3)

1.00%(4)

4.09%(4)

1.00%(4)

4.09%(4)

$89,119

Financial Highlights

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

Total
distributions

HUNTINGTON DIVIDEND CAPTURE FUND

Trust Shares

2002

$10.11

0.49

(0.49)

2003

$9.62

0.45

1.49

1.94

(0.45)

2004

$11.11

0.48

0.98

1.46

(0.47)

(0.51)

(0.98)

2005

$11.59

0.46

(0.11)

0.35

(0.47)

(0.61)

(1.08)

2006

$10.86

0.39

1.32

1.71

(0.39)

(0.54)

(0.93)

2007(3)

$11.64

0.19

(0.03)

0.16

(0.17)

(0.15)

(0.32)

Investment A Shares

2002

$10.11

0.47

(0.50)

(0.03)

(0.47)

2003

$9.61

0.39

1.54

1.93

(0.43)

2004

$11.11

0.48

0.94

1.42

(0.43)

(0.51)

(0.94)

2005

$11.59

0.42

(0.10)

0.32

(0.44)

(0.61)

(1.05)

2006

$10.86

0.36

1.32

1.68

(0.36)

(0.54)

(0.90)

2007(3)

$11.63

0.17

(0.01)

0.16

(0.16)

(0.15)

(0.31)

Investment B Shares

2002

$10.10

0.42

(0.49)

(0.07)

(0.42)

2003

$9.61

0.37

1.50

1.87

(0.38)

2004

$11.10

0.39

0.97

1.36

(0.38)

(0.51)

(0.89)

2005

$11.57

0.37

(0.12)

0.25

(0.38)

(0.61)

(0.99)

2006

$10.83

0.30

1.32

1.62

(0.30)

(0.54)

(0.84)

2007(3)

$11.61

0.15

(0.03)

0.12

(0.13)

(0.15)

(0.28)

HUNTINGTON GROWTH FUND

Trust Shares

2002

$42.11

(0.05)

(9.34)

(9.39)

2003

$32.72

0.03

6.23

6.26

(0.02)

2004

$38.96

0.10

2.88

2.98

(0.09)

(0.72)

(0.81)

2005

$41.13

0.04

0.64

0.68

(0.03)

(2.26)

(2.29)

2006

$39.52

0.09

3.10

3.19

(0.08)

(5.39)

(5.47)

2007(3)

$37.24

0.07

2.53

2.60

--(6)

(0.81)

Investment A Shares

2002

$41.87

(0.15)

(9.26)

(9.41)

2003

$32.46

(0.05)

6.17

6.12

2004

$38.58

(0.02)

2.86

2.84

(0.72)

2005

$40.70

(0.07)

0.64

0.57

(2.26)

2006

$39.01

(0.01)

3.05

3.04

(5.39)

2007(3)

$36.66

0.02

2.50

2.52

(0.81)

Investment B Shares

2002

$41.44

(0.24)

(9.24)

(9.48)

2003

$31.96

(0.19)

6.02

5.83

2004

$37.79

(0.19)

2.78

2.59

(0.72)

2005

$39.66

(0.26)

0.62

0.36

(2.26)

2006

$37.76

(0.19)

2.94

2.75

(5.39)

2007(3)

$35.12

(0.07)

2.39

2.32

(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) Six months ended June 30, 2007 (Unaudited).

(4) Not annualized.

(5) Computed on an annualized basis.

(6) Amount is less than $0.005.

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

Ratios to average net assets

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

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

Net Assets,
at end
of period
(000 omitted)

Portfolio
turnover
rate(2)

$9.62

(0.04)%

1.66%

5.04%

1.66%

5.04%

$24,361

88%

$11.11

20.75%

1.41%

4.54%

1.41%

4.54%

$47,464

108%

$11.59

13.52%

1.36%

4.34%

1.36%

4.34%

$80,182

101%

$10.86

3.10%

1.31%

4.07%

1.32%

4.06%

$92,819

131%

$11.64

16.03%

1.31%

3.44%

1.31%

3.44%

$112,404

98%

$11.48

1.34%(4)

1.32%(5)

3.37%(5)

1.32%(5)

3.37%(5)

$114,058

50%

$9.61

(0.40)%

1.91%

4.74%

1.91%

4.74%

$1,337

88%

$11.11

20.62%

1.65%

4.24%

1.65%

4.24%

$12,408

108%

$11.59

13.20%

1.62%

3.84%

1.62%

3.84%

$7,793

101%

$10.86

2.85%

1.56%

3.82%

1.58%

3.80%

$10,177

131%

$11.63

15.74%

1.56%

3.18%

1.56%

3.18%

$11,502

98%

$11.48

1.22%(4)

1.57%(5)

3.12%(5)

1.57%(5)

3.12%(5)

$12,281

50%

$9.61

(0.78)%

2.41%

4.42%

2.41%

4.42%

$5,001

88%

$11.10

19.90%

2.16%

3.78%

2.16%

3.78%

$12,374

108%

$11.57

12.61%

2.11%

3.53%

2.11%

3.53%

$16,554

101%

$10.83

2.25%

2.06%

3.31%

2.08%

3.29%

$17,728

131%

$11.61

15.21%

2.06%

2.66%

2.06%

2.66%

$18,753

98%

$11.45

0.97%(4)

2.07%(5)

2.60%(5)

2.07%(5)

2.60%(5)

$17,830

50%

$32.72

(22.30)%

1.18%

(0.15)%

1.18%

(0.15)%

$189,356

15%

$38.96

19.15%

1.17%

0.09%

1.17%

0.09%

$241,401

$41.13

7.65%

1.16%

0.23%

1.16%

0.23%

$252,371

12%

$39.52

1.51%

1.14%

0.09%

1.15%

0.08%

$235,916

20%

$37.24

8.36%

1.15%

0.22%

1.15%

0.22%

$223,155

31%

$39.03

6.98%(4)

1.15%(5)

0.37%(5)

1.15%(5)

0.37%(5)

$232,321

52%

$32.46

(22.47)%

1.49%

(0.42)%

1.49%

(0.42)%

$8,728

15%

$38.58

18.85%

1.42%

(0.16)%

1.42%

(0.16)%

$11,754

$40.70

7.36%

1.41%

(0.04)%

1.41%

(0.04)%

$11,317

12%

$39.01

1.26%

1.39%

(0.17)%

1.40%

(0.18)%

$10,598

20%

$36.66

8.11%

1.40%

(0.03)%

1.40%

(0.03)%

$9,209

31%

$38.37

6.84%(4)

1.40%(5)

0.11%(5)

1.40%(5)

0.11%(5)

$9,254

52%

$31.96

(22.88)%

1.93%

(0.88)%

1.93%

(0.88)%

$3,084

15%

$37.79

18.24%

1.92%

(0.65)%

1.92%

(0.65)%

$5,220

$39.66

6.85%

1.91%

(0.51)%

1.91%

(0.51)%

$6,331

12%

$37.76

0.76%

1.89%

(0.66)%

1.90%

(0.67)%

$6,073

20%

$35.12

7.56%

1.90%

(0.53)%

1.90%

(0.53)%

$5,626

31%

$36.63

6.60%(4)

1.90%(5)

(0.38)%(5)

1.90%(5)

(0.38)%(5)

$5,607

52%

Financial Highlights

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

Total
distributions

HUNTINGTON INCOME EQUITY FUND

Trust Shares

2002

$34.33

1.06

(5.31)

(4.25)

(1.06)

(0.09)

(1.15)

2003

$28.93

0.96

4.95

5.91

(0.99)

(1.27)

(2.26)

2004

$32.58

0.59

3.37

3.96

(0.59)

(2.67)

(3.26)

2005

$33.28

0.65

0.36

1.01

(0.65)

(2.38)

(3.03)

2006

$31.26

0.57

2.94

3.51

(0.57)

(3.09)

(3.66)

2007(3)

$31.11

0.24

2.25

2.49

(0.24)

Investment A Shares

2002

$34.34

0.99

(5.31)

(4.32)

(0.98)

(0.09)

(1.07)

2003

$28.95

0.89

4.94

5.83

(0.92)

(1.27)

(2.19)

2004

$32.59

0.50

3.38

3.88

(0.51)

(2.67)

(3.18)

2005

$33.29

0.56

0.37

0.93

(0.57)

(2.38)

(2.95)

2006

$31.27

0.49

2.93

3.42

(0.49)

(3.09)

(3.58)

2007(3)

$31.11

0.21

2.25

2.46

(0.21)

Investment B Shares

2002

$34.29

0.82

(5.30)

(4.48)

(0.84)

(0.09)

(0.93)

2003

$28.88

0.74

4.93

5.67

(0.79)

(1.27)

(2.06)

2004

$32.49

0.34

3.37

3.71

(0.35)

(2.67)

(3.02)

2005

$33.18

0.40

0.36

0.76

(0.41)

(2.38)

(2.79)

2006

$31.15

0.33

2.93

3.26

(0.34)

(3.09)

(3.43)

2007(3)

$30.98

0.13

2.23

2.36

(0.14)

HUNTINGTON INTERNATIONAL EQUITY FUND

Trust Shares

2002

$7.68

(0.01)

(1.01)

(1.02)

2003

$6.66

0.06

2.26

2.32

(0.05)

2004

$8.93

0.04

1.75

1.79

(0.05)

2005

$10.67

0.06

1.49

1.55

(0.08)

(0.35)

(0.43)

2006

$11.79

0.09

3.10

3.19

(0.08)

(0.97)

(1.05)

2007(3)

$13.93

0.07

1.38

1.45

(0.01)

(0.32)

(0.33)

Investment A Shares

2002

$7.66

(0.04)

(0.99)

(1.03)

2003

$6.63

0.04

2.24

2.28

(0.02)

2004

$8.89

--(6)

1.76

(0.01)

2005

$10.64

0.03

1.49

1.52

(0.07)

(0.35)

(0.42)

2006

$11.74

0.03

3.10

3.13

(0.06)

(0.97)

(1.03)

2007(3)

$13.84

0.05

1.37

1.42

--(6)

(0.32)

Investment B Shares

2002

$7.64

(0.04)

(1.02)

(1.06)

2003

$6.58

--(6)

2.22

(0.01)

2004

$8.79

(0.02)

1.70

1.68

2005

$10.47

--(6)

1.44

(0.01)

(0.35)

(0.36)

2006

$11.55

(0.01)

3.01

3.00

(0.01)

(0.97)

(0.98)

2007(3)

$13.57

0.02

1.35

1.37

(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) Six months ended June 30, 2007 (Unaudited).

(4) Not annualized.

(5) Computed on an annualized basis.

(6) Amount is less than $0.005.

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

Ratios to average net assets

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

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

Net Assets,
at end of
period
(000 omitted)

Portfolio
turnover
rate(2)

$28.93

(12.62)%

1.18%

3.32%

1.18%

3.32%

$176,885

29%

$32.58

21.00%

1.17%

3.20%

1.17%

3.20%

$201,272

85%

$33.28

13.16%

1.17%

1.83%

1.17%

1.83%

$205,577

35%

$31.26

3.04%

1.15%

1.98%

1.15%

1.98%

$193,906

33%

$31.11

11.36%

1.15%

1.79%

1.15%

1.79%

$185,816

43%

$33.36

8.04%(4)

1.16%(5)

1.54%(5)

1.16%(5)

1.54%(5)

$191,746

62%

$28.95

(12.81)%

1.43%

3.08%

1.43%

3.08%

$2,007

29%

$32.59

20.69%

1.42%

2.85%

1.42%

2.85%

$3,684

85%

$33.29

12.88%

1.42%

1.59%

1.42%

1.59%

$5,226

35%

$31.27

2.80%

1.40%

1.72%

1.40%

1.72%

$6,197

33%

$31.11

11.05%

1.40%

1.53%

1.40%

1.53%

$6,139

43%

$33.36

7.91%(4)

1.41%(5)

1.29%(5)

1.41%(5)

1.29%(5)

$6,841

62%

$28.88

(13.27)%

1.93%

2.67%

1.93%

2.67%

$3,802

29%

$32.49

20.08%

1.92%

2.38%

1.92%

2.38%

$6,534

85%

$33.18

12.33%

1.82%

1.00%

1.82%

1.00%

$8,257

35%

$31.15

2.28%

1.90%

1.22%

1.90%

1.22%

$8,447

33%

$30.98

10.52%

1.90%

1.04%

1.90%

1.04%

$8,176

43%

$33.20

7.62%(4)

1.91%(5)

0.79%(5)

1.91%(5)

0.79%(5)

$8,383

62%

$6.66

(13.28)%

1.84%

(0.14)%

1.84%

(0.14)%

$48,795

68%

$8.93

34.83%

1.66%

0.87%

1.66%

0.87%

$86,795

48%

$10.67

20.06%

1.60%

0.51%

1.60%

0.51%

$135,845

31%

$11.79

14.48%

1.58%

0.69%

1.58%

0.72%

$190,087

21%

$13.93

27.04%

1.57%

0.73%

1.57%

0.73%

$266,509

26%

$15.05

10.46%(4)

1.57%(5)

1.07%(5)

1.57%(5)

1.07%(5)

$309,793

$6.63

(13.45)%

2.05%

(0.66)%

2.05%

(0.66)%

$101

68%

$8.89

34.43%

1.90%

0.55%

1.90%

0.55%

$505

48%

$10.64

19.84%

1.85%

0.02%

1.85%

0.02%

$808

31%

$11.74

14.22%

1.81%

0.39%

1.81%

0.42%

$2,463

21%

$13.84

26.79%

1.83%

0.40%

1.83%

0.40%

$6,509

26%

$14.94

10.31%(4)

1.81%(5)

0.88%(5)

1.81%(5)

0.88%(5)

$9,580

$6.58

(13.87)%

2.59%

(0.88)%

2.59%

(0.88)%

$179

68%

$8.79

33.77%

2.41%

0.02%

2.41%

0.02%

$405

48%

$10.47

19.11%

2.35%

(0.23)%

2.35%

(0.23)%

$655

31%

$11.55

13.73%

2.33%

(0.04)%

2.33%

(0.04)%

$1,201

21%

$13.57

26.09%

2.33%

(0.06)%

2.33%

(0.06)%

$2,370

26%

$14.62

10.13%(4)

2.31%(5)

0.35%(5)

2.31%(5)

0.35%(5)

$3,128

Financial Highlights

Equity Funds

(For a share outstanding throughout each period)

Net Asset
Value,
beginning
of period

Net investment
income
(loss)

Net realized
and unrealized
gain on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain
on investment
transactions

Total
distributions

HUNTINGTON MACRO 100 FUND

Trust Shares

2004(3)

$10.00

0.02

1.21

1.23

(0.03)

2005

$11.20

(0.03)

0.57

0.54

(0.43)

2006

$11.31

--(6)

0.77

(0.24)

2007(8)

$11.84

--(6)

0.70

(0.68)

Investment A Shares

2004(3)

$10.00

0.01

1.19

1.20

(0.02)

2005

$11.18

(0.04)

0.55

0.51

(0.43)

2006

$11.26

(0.02)

0.76

0.74

(0.24)

2007(8)

$11.76

(0.01)

0.68

0.67

(0.68)

Investment B Shares

2004(3)

$10.00

(0.01)

1.18

1.17

2005

$11.17

(0.09)

0.55

0.46

(0.43)

2006

$11.20

(0.08)

0.75

0.67

(0.24)

2007(8)

$11.63

(0.04)

0.68

0.64

(0.68)

HUNTINGTON MID CORP AMERICA FUND

Trust Shares

2002

$10.40

(0.03)

(1.34)

(1.37)

2003

$9.03

(0.01)

2.84

2.83

2004

$11.86

(0.03)

2.09

2.06

(0.02)

2005

$13.90

0.02

1.56

1.58

(0.01)

2006

$15.47

0.02

1.24

1.26

(0.01)

(0.29)

(0.30)

2007(8)

$16.43

--(6)

1.91

--(6)

(0.14)

Investment A Shares

2002

$10.37

(0.04)

(1.35)

(1.39)

2003

$8.98

(0.02)

2.81

2.79

2004

$11.77

(0.06)

2.06

2.00

(0.02)

2005

$13.75

(0.02)

1.54

1.52

2006

$15.27

(0.03)

1.23

1.20

(0.29)

2007(8)

$16.18

(0.02)

1.88

1.86

(0.14)

Investment B Shares

2002

$10.34

(0.07)

(1.36)

(1.43)

2003

$8.91

(0.07)

2.78

2.71

2004

$11.62

(0.11)

2.02

1.91

(0.02)

2005

$13.51

(0.09)

1.51

1.42

2006

$14.93

(0.10)

1.19

1.09

(0.29)

2007(8)

$15.73

(0.07)

1.84

1.77

(0.14)

(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 April 30, 2004 (date of initial public investment) to December 31, 2004.

(4) Not annualized.

(5) Computed on an annualized basis.

(6) Amount is less than $0.005.

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

(8) Six months ended June 30, 2007 (Unaudited).

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

Ratios to average net assets

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

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

Net Assets, at
end of period
(000 omitted)

Portfolio
turnover
rate(2)

$11.20

12.29%(4)

1.91%(5)

0.38%(5)

1.91%(5)

0.38%(5)

$18,129

--%

$11.31

4.72%

1.51%

(0.27)%

1.51%

(0.27)%

$25,145

87%

$11.84

6.79%

1.43%

0.04%

1.43%

0.04%

$42,758

222%(7)

$11.86

5.94%(4)

1.39%(5)

0.03%(5)

1.39%(5)

0.03%(5)

$39,449

144%

$11.18

12.03%(4)

2.19%(5)

0.35%(5)

2.19%(5)

0.35%(5)

$841

--%

$11.26

4.46%

1.76%

(0.52)%

1.76%

(0.52)%

$2,152

87%

$11.76

6.55%

1.68%

(0.23)%

1.68%

(0.23)%

$3,189

222%(7)

$11.75

5.72%(4)

1.64%(5)

(0.23)%(5)

1.64%(5)

(0.23)%(5)

$3,082

144%

$11.17

11.70%(4)

2.70%(5)

(0.24)%(5)

2.70%(5)

(0.24)%(5)

$809

--%

$11.20

4.02%

2.26%

(1.02)%

2.26%

(1.02)%

$1,523

87%

$11.63

6.05%

2.18%

(0.73)%

2.18%

(0.73)%

$2,076

222%(7)

$11.59

5.43%(4)

2.14%(5)

(0.73)%(5)

2.14%(5)

(0.73)%(5)

$2,198

144%

$9.03

(13.17)%

1.42%

(0.33)%

1.42%

(0.33)%

$89,248

16%

$11.86

31.34%

1.34%

(0.09)%

1.34%

(0.09)%

$134,668

29%

$13.90

17.40%

1.33%

(0.20)%

1.33%

(0.20)%

$137,759

$15.47

11.36%

1.31%

0.11%

1.32%

0.10%

$147,477

$16.43

8.09%

1.31%

0.07%

1.31%

0.07%

$150,902

$18.20

11.64%(4)

1.32%(5)

(0.04)%(5)

1.32%(5)

(0.04)%(5)

$162,142

$8.98

(13.40)%

1.66%

(0.55)%

1.66%

(0.55)%

$870

16%

$11.77

31.07%

1.60%

(0.33)%

1.60%

(0.33)%

$3,325

29%

$13.75

17.02%

1.58%

(0.45)%

1.58%

(0.45)%

$3,180

$15.27

11.05%

1.56%

(0.14)%

1.57%

(0.15)%

$4,646

$16.18

7.84%

1.56%

(0.17)%

1.56%

(0.17)%

$4,986

$17.90

11.51%(4)

1.57%(5)

(0.28)%(5)

1.57%(5)

(0.28)%(5)

$5,419

$8.91

(13.83)%

2.16%

(1.06)%

2.16%

(1.06)%

$3,082

16%

$11.62

30.42%

2.09%

(0.84)%

2.09%

(0.84)%

$5,439

29%

$13.51

16.46%

2.08%

(0.94)%

2.08%

(0.94)%

$7,269

$14.93

10.51%

2.06%

(0.64)%

2.07%

(0.65)%

$8,252

$15.73

7.28%

2.06%

(0.68)%

2.06%

(0.68)%

$8,386

$17.36

11.26%(4)

2.07%(5)

(0.79)%(5)

2.07%(5)

(0.79)%(5)

$8,765

Financial Highlights

Equity Funds

(For a share outstanding throughout each period)

Net Asset
Value,
beginning
of period

Net
investment
income
(loss)

Net realized
and unrealized
gain on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain
on investment
transactions

Total
distributions

HUNTINGTON NEW ECONOMY FUND

Trust Shares

2002

$10.11

(0.08)

(1.28)

(1.36)

2003

$8.75

(0.07)

3.13

3.06

(0.01)

2004

$11.80

(0.10)

2.64

2.54

2005

$14.34

(0.06)

1.82

1.76

(0.18)

2006

$15.92

(0.06)

1.50

1.44

(1.32)

2007(3)

$16.04

0.03

1.99

2.02

(0.06)

Investment A Shares

2002

$10.11

(0.08)

(1.31)

(1.39)

2003

$8.72

(0.07)

3.09

3.02

(0.01)

2004

$11.73

(0.18)

2.68

2.50

2005

$14.23

(0.05)

1.74

1.69

(0.18)

2006

$15.74

(0.09)

1.49

1.40

(1.32)

2007(3)

$15.81

0.01

1.96

1.97

(0.06)

Investment B Shares

2002

$10.05

(0.14)

(1.28)

(1.42)

2003

$8.63

(0.13)

3.07

2.94

(0.01)

2004

$11.56

(0.19)

2.57

2.38

2005

$13.94

(0.15)

1.74

1.59

(0.18)

2006

$15.35

(0.16)

1.43

1.27

(1.32)

2007(3)

$15.30

(0.03)

1.89

1.86

(0.06)

HUNTINGTON REAL STRATEGIES FUND

Trust Shares

2007(6)

$10.00

0.02

0.20

0.22

Investment A Shares

2007(6)

$10.00

0.01

0.20

0.21

Investment B Shares

2007(6)

$10.00

--(8)

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, 2007 (Unaudited).

(4) Not annualized.

(5) Computed on an annualized basis.

(6) Reflects operations for the period from May 1, 2007 (date of commencement of operations) to June 30, 2007 (Unaudited).

(7) Does not include the effect of expenses of underlying funds.

(8) Amount is less than $0.005.

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

Ratios to average net assets

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

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

Net Assets,
at end of
period
(000 omitted)

Portfolio
turnover
rate(2)

$8.75

(13.45)%

1.90%

(1.13)%

1.94%

(1.17)%

$22,478

39%

$11.80

34.93%

1.56%

(0.79)%

1.56%

(0.79)%

$39,364

83%

$14.34

21.53%

1.52%

(0.88)%

1.52%

(0.88)%

$59,263

28%

$15.92

12.27%

1.46%

(0.42)%

1.46%

(0.42)%

$79,794

61%

$16.04

9.18%

1.43%

(0.39)%

1.43%

(0.39)%

$97,791

50%

$18.00

12.50%(4)

1.43%(5)

0.29%(5)

1.43%(5)

0.29%(5)

$114,871

60%

$8.72

(13.75)%

2.13%

(1.34)%

2.17%

(1.38)%

$339

39%

$11.73

34.59%

1.80%

(1.03)%

1.80%

(1.03)%

$1,154

83%

$14.23

21.31%

1.77%

(1.15)%

1.77%

(1.15)%

$1,292

28%

$15.74

11.87%

1.71%

(0.64)%

1.71%

(0.64)%

$5,804

61%

$15.81

8.96%

1.68%

(0.64)%

1.68%

(0.64)%

$8,607

50%

$17.72

12.37%(4)

1.68%(5)

0.04%(5)

1.68%(5)

0.04%(5)

$10,099

60%

$8.63

(14.13)%

2.65%

(1.88)%

2.69%

(1.92)%

$908

39%

$11.56

34.02%

2.30%

(1.53)%

2.30%

(1.53)%

$1,642

83%

$13.94

20.59%

2.27%

(1.63)%

2.27%

(1.63)%

$2,369

28%

$15.35

11.40%

2.21%

(1.17)%

2.21%

(1.17)%

$3,410

61%

$15.30

8.34%

2.18%

(1.14)%

2.18%

(1.14)%

$4,226

50%

$17.10

12.13%(4)

2.18%(5)

(0.46)%(5)

2.18%(5)

(0.46)%(5)

$4,832

60%

$10.22

2.20%(4)(7)

1.91%(5)(7)

1.26%(5)(7)

1.91%(5)(7)

1.26%(5)(7)

$23,130

13%

$10.21

2.10%(4)(7)

2.16%(5)(7)

0.81%(5)(7)

2.16%(5)(7)

0.81%(5)(7)

$384

13%

$10.20

2.00%(4)(7)

2.69%(5)(7)

0.26%(5)(7)

2.69%(5)(7)

0.26%(5)(7)

$30

13%

Financial Highlights

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

Total
distributions

HUNTINGTON ROTATING MARKETS FUND

Trust Shares

2002

$8.99

(0.04)

(1.39)

(1.43)

2003

$7.56

0.04

1.85

1.89

(0.04)

2004

$9.41

0.05

1.07

1.12

(0.05)

2005

$10.48

0.06

0.93

0.99

(0.06)

2006

$11.41

0.12

2.10

2.22

(0.12)

(0.20)

(0.32)

2007(4)

$13.31

(0.01)

1.22

1.21

--(5)

(0.02)

Investment A Shares

2002

$8.97

(0.05)

(1.39)

(1.44)

2003

$7.53

0.02

1.83

1.85

(0.02)

2004

$9.36

0.03

1.06

1.09

(0.03)

2005

$10.42

0.03

0.93

0.96

(0.03)

2006

$11.35

0.10

2.08

2.18

(0.10)

(0.20)

(0.30)

2007(4)

$13.23

(0.03)

1.21

1.18

(0.02)

Investment B Shares

2007(8)

$14.04

(0.01)

0.37

0.36

(0.01)

(0.02)

(0.03)

HUNTINGTON SITUS SMALL CAP FUND

Trust Shares

2002(9)

$10.00

--(5)

0.22

2003

$10.22

(0.05)

3.65

3.60

(0.01)

2004

$13.81

(0.06)

3.68

3.62

(0.34)

2005

$17.09

(0.07)

2.83

2.76

(0.61)

2006

$19.24

(0.07)

2.12

2.05

(1.15)

2007(4)

$20.14

0.06 (10)

2.55

2.61

(0.27)

Investment A Shares

2002(9)

$10.00

--(5)

0.21

0.21

2003

$10.21

(0.04)

3.61

3.57

(0.01)

2004

$13.77

(0.08)

3.65

3.57

(0.34)

2005

$17.00

(0.07)

2.76

2.69

(0.61)

2006

$19.08

(0.09)

2.08

1.99

(1.15)

2007(4)

$19.92

0.03 (10)

2.52

2.55

(0.27)

Investment B Shares

2002(9)

$10.00

0.20

2003

$10.20

(0.08)

3.57

3.49

(0.01)

2004

$13.68

(0.13)

3.59

3.46

(0.34)

2005

$16.80

(0.18)

2.74

2.56

(0.61)

2006

$18.75

(0.19)

2.04

1.85

(1.15)

2007(4)

$19.45

(0.02)(10)

2.46

2.44

(0.27)

(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) Does not include the effect of expenses of underlying funds.

(4) Six months ended June 30, 2007 (Unaudited).

(5) Amount is less than $0.005.

(6) Not annualized.

(7) Computed on an annualized basis.

(8) Reflects operations for the period from May 1, 2007 (date of commencement of operations) to June 30, 2007 for Investment B Shares (Unaudited).

(9) Reflects operations for the period from September 20, 2002 (date of initial public investment) to December 31, 2002.

(10) 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)

Ratios to average net assets

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

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

Net Assets,
at end of
period
(000 omitted)

Portfolio
turnover
rate(2)

$7.56

(15.91)%(3)

1.52%(3)

(0.54)%(3)

1.52%(3)

(0.54)%(3)

$14,740

102%

$9.41

25.00%(3)

1.28%(3)

0.52%(3)

1.28%(3)

0.52%(3)

$19,937

206%

$10.48

11.89%(3)

1.22%(3)

0.53%(3)

1.22%(3)

0.53%(3)

$23,613

86%

$11.41

9.44%(3)

1.17%(3)

0.58%(3)

1.17%(3)

0.58%(3)

$29,249

48%

$13.31

19.56%(3)

1.15%(3)

1.13%(3)

1.15%(3)

1.13%(3)

$45,161

35%

$14.50

8.98%(3)(6)

1.11%(3)(7)

(0.14)%(3)(7)

1.11%(3)(7)

(0.14)%(3)(7)

$53,524

38%

$7.53

(16.05)%

1.78%

(0.82)%

1.78%

(0.82)%

$648

102%

$9.36

24.62%(3)

1.54%(3)

0.32%(3)

1.54%(3)

0.32%(3)

$1,258

206%

$10.42

11.61%(3)

1.47%(3)

0.31%(3)

1.47%(3)

0.31%(3)

$1,629

86%

$11.35

9.24%(3)

1.42%(3)

0.30%(3)

1.42%(3)

0.30%(3)

$1,911

48%

$13.23

19.19%(3)

1.40%(3)

0.95%(3)

1.40%(3)

0.95%(3)

$3,438

35%

$14.39

8.98%(3)(6)

1.36%(3)(7)

(0.38)%(3)(7)

1.36%(3)(7)

(0.38)%(3)(7)

$4,608

38%

$14.37

6.10%(3)(6)

1.77%(3)(7)

(0.55)%(3)(7)

1.77%(3)(7)

(0.55)%(3)(7)

38%

$10.22

2.20%(6)

2.29%(7)

(1.30)%(7)

2.29%(7)

(1.30)%(7)

$13,249

$13.81

35.18%

1.68%

(0.49)%

1.68%

(0.49)%

$30,067

19%

$17.09

26.23%

1.43%

(0.45)%

1.43%

(0.45)%

$57,942

16%

$19.24

16.20%

1.36%

(0.41)%

1.36%

(0.41)%

$80,212

14%

$20.14

10.73%

1.38%

(0.34)%

1.38%

(0.34)%

$89,230

19%

$22.48

13.01%(6)

1.36%(7)

0.56%(7)

1.36%(7)

0.56%(7)

$110,817

14%

$10.21

2.10%

2.25%

(1.41)%

2.25%

(1.41)%

$10

$13.77

34.92%

1.87%

(0.75)%

1.87%

(0.75)%

$499

19%

$17.00

25.94%

1.68%

(0.69)%

1.68%

(0.69)%

$1,302

16%

$19.08

15.87%

1.61%

(0.66)%

1.61%

(0.66)%

$5,073

14%

$19.92

10.50%

1.64%

(0.59)%

1.64%

(0.59)%

$11,685

19%

$22.20

12.85%(6)

1.61%(7)

0.32%(7)

1.61%(7)

0.32%(7)

$15,967

14%

$10.20

2.00%

3.00%

(2.05)%

3.00%

(2.05)%

$88

$13.68

34.17%

2.40%

(1.25)%

2.40%

(1.25)%

$555

19%

$16.80

25.31%

2.18%

(1.18)%

2.18%

(1.18)%

$1,627

16%

$18.75

15.28%

2.11%

(1.16)%

2.11%

(1.16)%

$2,633

14%

$19.45

9.93%

2.13%

(1.10)%

2.13%

(1.10)%

$3,700

19%

$21.62

12.54%(6)

2.11%(7)

(0.19)%(7)

2.11%(7)

(0.19)%(7)

$4,562

14%

Financial Highlights

Income Funds

(For a share outstanding throughout each period)

Net Asset
Value,
beginning
of period

Net
investment
income

Net realized
and unrealized
gain (loss) on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain
on investment
transactions

Total
distributions

HUNTINGTON FIXED INCOME SECURITIES FUND

Trust Shares

2002

$20.77

0.98

0.52

1.50

(1.00)

2003

$21.27

0.82

0.16

0.98

(0.83)

2004

$21.42

0.73

(0.09)

0.64

(0.74)

(0.09)

(0.83)

2005

$21.23

0.76

(0.37)

0.39

(0.76)

(0.07)

(0.83)

2006

$20.79

0.79

(0.04)

0.75

(0.78)

2007(3)

$20.76

0.43

(0.31)

0.12

(0.43)

--(4)

(0.43)

Investment A Shares

2002

$20.77

0.94

0.50

1.44

(0.95)

2003

$21.26

0.76

0.17

0.93

(0.77)

2004

$21.42

0.68

(0.09)

0.59

(0.69)

(0.09)

(0.78)

2005

$21.23

0.71

(0.38)

0.33

(0.71)

(0.07)

(0.78)

2006

$20.78

0.74

(0.03)

0.71

(0.73)

2007(3)

$20.76

0.40

(0.31)

0.09

(0.40)

--(4)

(0.40)

Investment B Shares

2002

$20.75

0.83

0.50

1.33

(0.85)

2003

$21.23

0.65

0.17

0.82

(0.66)

2004

$21.39

0.58

(0.09)

0.49

(0.59)

(0.09)

(0.68)

2005

$21.20

0.60

(0.38)

0.22

(0.60)

(0.07)

(0.67)

2006

$20.75

0.64

(0.03)

0.61

(0.63)

2007(3)

$20.73

0.35

(0.30)

0.05

(0.35)

--(4)

(0.35)

HUNTINGTON INTERMEDIATE GOVERNMENT INCOME FUND

Trust Shares

2002

$10.43

0.46

0.50

0.96

(0.47)

2003

$10.92

0.37

(0.23)

0.14

(0.39)

(0.02)

(0.41)

2004

$10.65

0.36

(0.08)

0.28

(0.37)

(0.04)

(0.41)

2005

$10.52

0.37

(0.23)

0.14

(0.38)

2006

$10.28

0.39

(0.04)

0.35

(0.39)

--(4)

(0.39)

2007(3)

$10.24

0.20

(0.12)

0.08

(0.20)

Investment A Shares

2002

$10.43

0.44

0.50

0.94

(0.45)

2003

$10.92

0.35

(0.23)

0.12

(0.37)

(0.02)

(0.39)

2004

$10.65

0.33

(0.07)

0.26

(0.35)

(0.04)

(0.39)

2005

$10.52

0.34

(0.23)

0.11

(0.35)

2006

$10.28

0.35

(0.03)

0.32

(0.36)

--(4)

(0.36)

2007(3)

$10.24

0.19

(0.12)

0.07

(0.19)

Investment B Shares

2003(7)

$10.99

0.17

(0.30)

(0.13)

(0.18)

(0.02)

(0.20)

2004

$10.66

0.28

(0.09)

0.19

(0.29)

(0.04)

(0.33)

2005

$10.52

0.29

(0.23)

0.06

(0.30)

2006

$10.28

0.30

(0.02)

0.28

(0.31)

--(4)

(0.31)

2007(3)

$10.25

0.16

(0.12)

0.04

(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, 2007 (Unaudited).

(4) Amount is less than $0.005.

(5) Not annualized.

(6) Computed on an annualized basis.

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

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

Ratios to average net assets

Net Asset
Value, end
of period

Total
return(1)

Ratio of Net
Expenses to
Average
Net Assets

Ratio of Net
Investment
Income to
Average
Net Assets

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

Ratio of Net
Investment
Income (Prior to
Reimbursements)
to Average
Net Assets

Net Assets,
at end of
period
(000 omitted)

Portfolio
turnover
rate(2)

$21.27

7.45%

1.08%

4.74%

1.08%

4.74%

$146,976

54%

$21.42

4.65%

1.08%

3.78%

1.08%

3.78%

$166,215

73%

$21.23

3.07%

1.08%

3.46%

1.08%

3.46%

$162,998

53%

$20.79

1.86%

1.07%

3.55%

1.07%

3.61%

$168,764

59%

$20.76

3.74%

1.06%

3.87%

1.06%

3.87%

$173,305

55%

$20.45

0.58%(5)

1.07%(6)

4.17%(6)

1.07%(6)

4.17%(6)

$174,664

28%

$21.26

7.14%

1.33%

4.47%

1.33%

4.47%

$1,512

54%

$21.42

4.43%

1.33%

3.47%

1.33%

3.47%

$2,532

73%

$21.23

2.81%

1.33%

3.22%

1.33%

3.22%

$2,314

53%

$20.78

1.56%

1.32%

3.36%

1.32%

3.36%

$1,699

59%

$20.76

3.53%

1.31%

3.62%

1.31%

3.62%

$1,702

55%

$20.45

0.46%(5)

1.32%(6)

3.92%(6)

1.32%(6)

3.92%(6)

$1,619

28%

$21.23

6.59%

1.82%

3.88%

1.82%

3.88%

$1,852

54%

$21.39

3.92%

1.83%

2.99%

1.83%

2.99%

$3,212

73%

$21.20

2.31%

1.83%

2.72%

1.83%

2.72%

$3,040

53%

$20.75

1.06%

1.82%

2.80%

1.82%

2.80%

$3,068

59%

$20.73

3.02%

1.82%

3.12%

1.82%

3.12%

$2,807

55%

$20.43

0.26%(5)

1.82%(6)

3.43%(6)

1.82%(6)

3.43%(6)

$2,419

28%

$10.92

9.46%

1.10%

4.38%

1.10%

4.38%

$81,232

60%

$10.65

1.34%

1.10%

3.45%

1.10%

3.45%

$81,671

78%

$10.52

2.67%

1.11%

3.37%

1.11%

3.37%

$90,288

43%

$10.28

1.33%

1.09%

3.55%

1.10%

3.54%

$107,166

34%

$10.24

3.51%

1.08%

3.80%

1.08%

3.80%

$108,312

32%

$10.12

0.78%(5)

1.10%(6)

3.94%(6)

1.10%(6)

3.94%(6)

$113,384

17%

$10.92

9.17%

1.35%

3.89%

1.35%

3.89%

$6,766

60%

$10.65

1.09%

1.35%

3.18%

1.35%

3.18%

$7,486

78%

$10.52

2.42%

1.36%

3.16%

1.36%

3.16%

$4,182

43%

$10.28

1.08%

1.34%

3.30%

1.35%

3.29%

$3,707

34%

$10.24

3.25%

1.34%

3.55%

1.34%

3.55%

$1,599

32%

$10.12

0.65%(5)

1.35%(6)

3.68%(6)

1.35%(6)

3.68%(6)

$1,659

17%

$10.66

(1.13)%(5)

1.86%(6)

2.41%(6)

1.86%(6)

2.41%(6)

$492

78%

$10.52

1.81%

1.86%

2.62%

1.86%

2.62%

$470

43%

$10.28

0.57%

1.84%

2.79%

1.85%

2.78%

$484

34%

$10.25

2.84%

1.83%

3.05%

1.83%

3.05%

$417

32%

$10.13

0.41%(5)

1.85%(6)

3.19%(6)

1.85%(6)

3.19%(6)

$400

17%

Financial Highlights

Income Funds

(For a share outstanding throughout each period)

Net Asset
Value,
beginning
of period

Net
investment
income

Net realized
and unrealized
gain (loss) on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain
on investment
transactions

Total
distributions

HUNTINGTON MICHIGAN TAX-FREE FUND

Trust Shares

2002

$10.46

0.34

0.50

0.84

(0.35)

(0.03)

(0.38)

2003

$10.92

0.28

0.10

0.38

(0.29)

(0.05)

(0.34)

2004

$10.96

0.27

(0.17)

0.10

(0.27)

(0.03)

2005

$10.76

0.24

(0.15)

0.09

(0.24)

(0.04)

(0.28)

2006

$10.57

0.28

(0.02)

0.26

(0.27)

2007(3)

$10.56

0.14

(0.18)

(0.04)

(0.15)

Investment A Shares

2002

$10.46

0.32

0.50

0.82

(0.32)

(0.03)

(0.35)

2003

$10.93

0.26

0.09

0.35

(0.27)

(0.05)

(0.32)

2004

$10.96

0.24

(0.17)

0.07

(0.24)

(0.03)

(0.27)

2005

$10.76

0.22

(0.15)

0.07

(0.22)

(0.04)

(0.26)

2006

$10.57

0.26

(0.02)

0.24

(0.25)

2007(3)

$10.56

0.12

(0.18)

(0.06)

(0.13)

Investment B Shares

2003(3)

$11.11

0.12

(0.11)

0.01

(0.12)

(0.05)

(0.17)

2004

$10.95

0.19

(0.17)

0.02

(0.19)

(0.03)

(0.22)

2005

$10.75

0.16

(0.14)

0.02

(0.16)

(0.04)

(0.20)

2006

$10.57

0.20

(0.02)

0.18

(0.19)

2007(3)

$10.56

0.10

(0.18)

(0.08)

(0.11)

HUNTINGTON MORTGAGE SECURITIES FUND

Trust Shares

2002

$8.32

0.38

0.24

0.62

(0.39)

2003

$8.55

0.24

0.35

0.59

(0.32)

2004

$8.82

0.29

0.22

0.51

(0.31)

2005

$9.02

0.29

(0.12)

0.17

(0.31)

(0.01)

(0.32)

2006

$8.87

0.33

0.20

0.53

(0.33)

(0.06)

(0.39)

2007(3)

$9.01

0.16

(0.16)

Investment A Shares

2002

$8.35

0.36

0.24

0.60

(0.37)

2003

$8.58

0.17

0.39

0.56

(0.28)

2004

$8.86

0.28

0.21

0.49

(0.28)

2005

$9.07

0.26

(0.11)

0.15

(0.29)

(0.01)

(0.30)

2006

$8.92

0.30

0.20

0.50

(0.30)

(0.06)

(0.36)

2007(3)

$9.06

0.15

(0.16)

(0.01)

(0.15)

Investment B Shares

2003(7)

$8.70

0.13

0.17

0.30

(0.17)

2004

$8.83

0.23

0.21

0.44

(0.25)

2005

$9.02

0.22

(0.12)

0.10

(0.24)

(0.01)

(0.25)

2006

$8.87

0.27

0.20

0.47

(0.26)

(0.06)

(0.32)

2007(3)

$9.02

0.12

(0.15)

(0.03)

(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, 2007 (Unaudited).

(4) Not annualized.

(5) Computed on an annualized basis.

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

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

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

Ratios to average net assets

Net Asset
Value, end
of period

Total
return(1)

Ratio of Net
Expenses to
Average
Net Assets

Ratio of Net
Investment
Income to
Average
Net Assets

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

Ratio of Net\
Investment
Income (Prior to
Reimbursements)
to Average
Net Assets

Net Assets,
at end of
period
(000 omitted)

Portfolio
turnover
rate(2)

$10.92

8.15%

1.33%

3.24%

1.33%

3.24%

$18,268

27%

$10.96

3.57%

1.27%

2.66%

1.27%

2.66%

$23,854

17%

$10.76

0.94%

1.29%

2.44%

1.29%

2.44%

$24,589

17%

$10.57

0.88%

1.24%

2.27%

1.26%

2.25%

$22,195

49%

$10.56

2.52%

1.29%

2.63%

1.29%

2.63%

$17,407

22%

$10.37

(0.43)%(4)

1.33%(5)

2.66%(5)

1.33%(5)

2.66%(5)

$15,647

12%

$10.93

7.98%

1.58%

2.99%

1.58%

2.99%

$5,209

27%

$10.96

3.21%

1.52%

2.40%

1.52%

2.40%

$6,241

17%

$10.76

0.69%

1.54%

2.19%

1.54%

2.19%

$6,108

17%

$10.57

0.63%

1.49%

2.03%

1.51%

2.01%

$4,838

49%

$10.56

2.27%

1.54%

2.38%

1.54%

2.38%

$4,162

22%

$10.37

(0.55)%(4)

1.58%(5)

2.41%(5)

1.58%(5)

2.41%(5)

$3,895

12%

$10.95

0.09%(4)

2.03%(5)

1.68%(5)

2.03%(5)

1.68%(5)

$580

17%

$10.75

0.18%

2.04%

1.69%

2.04%

1.69%

$789

17%

$10.57

0.22%

1.99%

1.53%

2.01%

1.51%

$615

49%

$10.56

1.76%

2.05%

1.89%

2.05%

1.89%

$466

22%

$10.37

(0.80)%(4)

2.09%(5)

1.91%(5)

2.09%(5)

1.91%(5)

$429

12%

$8.55

7.61%

1.19%

4.46%

1.19%

4.46%

$46,313

63%

$8.82

7.02%

1.14%

2.82%

1.14%

2.82%

$43,928

71%

$9.02

5.86%

1.16%

3.45%

1.16%

3.45%

$64,853

38%

$8.87

1.96%

1.12%

3.34%

1.12%

2.27%

$81,950

29%

$9.01

6.06%

1.10%

3.68%

1.10%

3.68%

$85,995

29%

$8.85

0.02%(4)

1.11%(5)

3.70%(5)

1.11%(5)

3.70%(5)

$85,949

12%

$8.58

7.30%

1.44%

4.07%

1.44%

4.07%

$2,859

63%

$8.86

6.71%

1.37%

2.74%

1.37%

2.74%

$1,214

71%

$9.07

5.66%

1.40%

3.18%

1.40%

3.18%

$1,257

38%

$8.92

1.68%

1.36%

2.03%

1.36%

2.03%

$1,823

29%

$9.06

5.74%

1.35%

3.41%

1.35%

3.41%

$1,683

29%

$8.90

(0.12)%(4)

1.35%(5)

3.40%(5)

1.35%(5)

3.40%(5)

$1,933

12%

$8.83

3.47%(4)

1.93%(5)

1.14%(5)

1.93%(5)

1.14%(5)

$280

71%

$9.02

5.00%

1.90%

2.68%

1.90%

2.68%

$482

38%

$8.87

1.16%

1.86%

2.57%

1.86%

2.57%

$700

29%

$9.02

5.33%

1.85%

2.93%

1.85%

2.93%

$673

29%

$8.87

(0.31)%(4)

1.86%(5)

2.94%(5)

1.86%(5)

2.94%(5)

$736

12%

Financial Highlights

Income Funds

(For a share outstanding throughout each period)

Net Asset
Value,
beginning of
period

Net
investment
income

Net realized
and unrealized
gain (loss) on
investments

Total from
investment
operations

Distributions
from net
investment
income

Distributions
from net
realized gain on
investment
transactions

Total
distributions

HUNTINGTON OHIO TAX-FREE FUND

Trust Shares

2002

$20.95

0.73

0.96

1.69

(0.73)

(0.04)

(0.77)

2003

$21.87

0.60

0.14

0.74

(0.60)

(0.11)

(0.71)

2004

$21.90

0.57

(0.24)

0.33

(0.57)

(0.16)

(0.73)

2005

$21.50

0.54

(0.37)

0.17

(0.54)

(0.22)

(0.76)

2006

$20.91

0.58

(0.05)

0.53

(0.58)

2007(3)

$20.86

0.28

(0.32)

(0.04)

(0.28)

Investment A Shares

2002

$20.94

0.68

0.96

1.64

(0.68)

(0.04)

(0.72)

2003

$21.86

0.54

0.13

0.67

(0.54)

(0.11)

(0.65)

2004

$21.88

0.52

(0.23)

0.29

(0.52)

(0.16)

(0.68)

2005

$21.49

0.49

(0.37)

0.12

(0.49)

(0.22)

(0.71)

2006

$20.90

0.53

(0.06)

0.47

(0.53)

2007(3)

$20.84

0.25

(0.31)

(0.06)

(0.25)

Investment B Shares

2003(6)

$21.97

0.27

0.02

0.29

(0.27)

(0.11)

(0.38)

2004

$21.88

0.41

(0.23)

0.18

(0.41)

(0.16)

(0.57)

2005

$21.49

0.39

(0.37)

0.02

(0.39)

(0.22)

(0.61)

2006

$20.90

0.43

(0.05)

0.38

(0.43)

2007(3)

$20.85

0.19

(0.31)

(0.12)

(0.20)

HUNTINGTON SHORT/INTERMEDIATE FIXED INCOME SECURITIES FUND

Trust Shares

2002

$19.77

0.87

0.11

0.98

(0.88)

2003

$19.87

0.62

0.01

0.63

(0.62)

2004

$19.88

0.50

(0.32)

0.18

(0.50)

2005

$19.56

0.51

(0.41)

0.10

(0.51)

2006

$19.15

0.60

0.10

0.70

(0.60)

2007(3)

$19.25

0.34

(0.03)

0.31

(0.34)

Investment A Shares

2003(7)

$20.08

0.32

(0.19)

0.13

(0.32)

2004

$19.89

0.45

(0.33)

0.12

(0.45)

2005

$19.56

0.46

(0.40)

0.06

(0.46)

2006

$19.16

0.55

0.10

0.65

(0.55)

2007(3)

$19.26

0.31

(0.04)

0.27

(0.31)

(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, 2007 (Unaudited).

(4) Not annualized.

(5) Computed on an annualized basis.

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

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

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

Ratios to average net assets

Net Asset
Value, end
of period

Total
return(1)

Ratio of Net
Expenses to
Average
Net Assets

Ratio of Net
Investment
Income to
Average
Net Assets

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

Ratio of Net
Investment Income
(Prior to
Reimbursements)
to Average
Net Assets

Net Assets,
at end of
period
(000 omitted)

Portfolio
turnover
rate(2)

$21.87

8.20%

1.17%

3.39%

1.17%

3.39%

$52,160

28%

$21.90

3.42%

1.16%

2.72%

1.16%

2.72%

$55,450

20%

$21.50

1.52%

1.17%

2.63%

1.17%

2.63%

$52,565

13%

$20.91

0.85%

1.16%

2.56%

1.17%

2.55%

$45,571

45%

$20.86

2.59%

1.17%

2.80%

1.17%

2.80%

$40,319

17%

$20.54

(0.22)%(4)

1.20%(5)

2.68%(5)

1.20%(5)

2.68%(5)

$35,382

12%

$21.86

7.94%

1.43%

3.11%

1.43%

3.11%

$3,292

28%

$21.88

3.11%

1.41%

2.45%

1.41%

2.45%

$5,913

20%

$21.49

1.32%

1.42%

2.39%

1.42%

2.39%

$4,657

13%

$20.90

0.59%

1.41%

2.32%

1.42%

2.31%

$3,222

45%

$20.84

2.29%

1.43%

2.58%

1.43%

2.58%

$1,686

17%

$20.53

(0.29)%(4)

1.45%(5)

2.43%(5)

1.45%(5)

2.43%(5)

$1,564

12%

$21.88

1.32%(4)

1.93%(5)

1.86%(5)

1.93%(5)

1.86%(5)

$1,685

20%

$21.49

0.81%

1.92%

1.88%

1.92%

1.88%

$1,729

13%

$20.90

0.10%

1.91%

1.82%

1.92%

1.81%

$1,525

45%

$20.85

1.78%

1.93%

2.06%

1.93%

2.06%

$1,337

17%

$20.53

(0.54)%(4)

1.95%(5)

1.93%(5)

1.95%(5)

1.93%(5)

$1,230

12%

$19.87

5.08%

1.07%

4.41%

1.07%

4.41%

$121,093

58%

$19.88

3.18%

1.07%

3.05%

1.07%

3.05%

$155,883

51%

$19.56

0.91%

1.07%

2.53%

1.07%

2.53%

$150,175

54%

$19.15

0.54%

1.06%

2.65%

1.06%

2.65%

$119,090

31%

$19.25

3.70%

1.07%

3.11%

1.07%

3.11%

$95,512

36%

$19.22

1.61%(4)

1.08%(5)

3.54%(5)

1.08%(5)

3.54%(5)

$88,657

13%

$19.89

0.65%(4)

1.31%(5)

2.47%(5)

1.31%(5)

2.47%(5)

$8,061

51%

$19.56

0.60%

1.32%

2.29%

1.32%

2.29%

$4,538

54%

$19.16

0.34%

1.31%

2.41%

1.31%

2.41%

$3,506

31%

$19.26

3.44%

1.33%

2.80%

1.33%

2.80%

$668

36%

$19.22

1.43%(4)

1.33%(5)

3.29%(5)

1.33%(5)

3.29%(5)

$735

13%

Combined Notes to Financial Statements

June 30, 2007 (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”). 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. The Trust operates 30 separate series, or mutual funds, each with its own investment objective and strategy. This report contains financial statements and financial highlights of the funds listed below (each individually referred to as “Fund,” or collectively as the “Funds”):

*Funds*		*Investment Share* *Classes* *Offered*

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

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

Under the Trust’s organizational documents, its officers and Board of Trustees (“Trustees”) are indemnified against certain liabilities arising out of the performance of their duties to the Funds. In addition, in the normal course of business, the Trust 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 U.S. generally accepted accounting principles (“GAAP”).

A. Investment Valuations

The price at which the Funds will offer or redeem shares is the net asset value (“NAV”) per share next determined after the order is considered received, subject to any applicable front end or contingent deferred sales charges.

The Trust calculates NAV for each of the Funds (other than the Money Market Funds) by valuing securities held based on market value. The Trust attempts to stabilize the NAV per share for each of the Money Market Funds at $1.00 per share by valuing its 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 NAV, current market value is used to value portfolio securities with respect to 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. 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. Foreign securities are subject to modification based on significant events, as described below. U.S. government obligations held by Mortgage Securities are valued at the mean between the over-the-counter bid and asked prices furnished by the security pricing service. Except as noted above, 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. If there is no reported sale on the principal exchange, and for all other debt securities, including zero-coupon 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. 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. 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.

Securities for which market quotations are not readily available are valued at their “fair value.” 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 of the situation at issue, transactions implicitly valuing the security at issue (such as a merger, tender offer, etc.), the value of other securities or contracts which derive their value from the security at issue, and the implications (whether negative or positive) of the circumstances which have caused trading in the security to halt. The final good faith fair valuation of a security is based on an analysis of those factors deemed relevant to the security valuation at issue. With respect to certain narrow categories of securities, the Pricing Committee’s procedures detail specific valuation methodologies to be used in lieu of considering the aforementioned list of factors.

The Funds may use the fair value of a security to calculate their NAV when a market price is not readily available, such as when: (1) a portfolio security is not traded in a public market or the principal market in which the security trades is closed, (2) trading in a portfolio security is suspended and not resumed prior to the normal market close, (3) a portfolio security is not traded in significant volume for a substantial period, or (4) the Funds’ investment adviser, Huntington Asset Advisors, Inc. (“Advisor”) determines that the quotation or price for a portfolio security provided by a dealer or independent pricing service is inaccurate.

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 general securities market movements occurring between the time when the price of the portfolio security is determined and the close of trading on the NYSE. For domestic fixed income securities, such events may occur where the cut-off time for the market information used by the independent pricing service is earlier than the end of regular trading on the NYSE. For securities normally priced at their last sale price in a foreign market, such events can occur between the close of trading in the foreign market and the close of trading on the NYSE. In such cases, use of fair valuation can reduce an investor’s ability to seek to profit by estimating a Fund’s NAV in advance of the time when the NAV is calculated.

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. Since International Equity invests primarily in foreign securities, it is most likely to be affected by this fair valuation methodology. Since Situs Small Cap invests some of its assets in foreign securities, it may be affected, although to a lesser extent.

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 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. Fair valuations generally remain unchanged until new information becomes available. Consequently, changes in 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. Fair valuation determinations often involve the consideration of a number of subjective factors, and the fair value price may be higher or lower than a readily available market quotation.

B. Repurchase Agreements

The Funds may enter into repurchase agreements with banks and other recognized financial institutions, such as broker/dealers, which are deemed by the Funds’ advisor, Huntington Asset Advisors, Inc. (“Advisor”) to be creditworthy pursuant to the policies and procedures adopted by the Trustees. It is the policy of the Funds to require the custodian bank to take possession of, to have legally segregated in the Federal Reserve Book Entry System, or to have segregated within the custodian bank’s vault, all securities held as collateral under repurchase agreement transactions. Additionally, procedures have been established by the Funds to monitor, on a daily basis, the market value of each repurchase agreement’s collateral to ensure that the value of collateral at least equals the repurchase price to be paid under the repurchase agreement transaction. If the counterparty defaults and the fair value of the collateral declines, realization of the collateral by the Funds may be delayed or limited.

C. Dividends and Distributions to Shareholders

Dividends from net investment income are declared daily and paid monthly for the Funds except as follows: Dividend Capture, Income Equity and Mortgage Securities declare and pay dividends monthly; International Equity, Macro 100, Mid Corp America, New Economy, Real Strategies, Rotating Markets and Situs Small Cap declare and pay dividends, if any, annually; and Growth and Real Strategies declares 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.

D. 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.

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

As of June 30, 2007, 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)**

Florida Tax-Free Money	$33,190,570	$--	$--	$--
Money Market	978,273,368	--	--	--
Ohio Municipal Money Market	191,975,806	--	--	--
U.S. Treasury Money Market	686,054,950	--	--	--
Dividend Capture	157,077,960	8,348,248	(4,535,908)	3,812,340
Growth	189,498,635	73,625,466	(1,260,314)	72,365,152
Income Equity	195,831,487	43,091,715	(2,196,152)	40,895,563
International Equity	212,107,539	102,986,970	(921,398)	102,065,572
Macro 100	43,199,557	2,284,117	(767,276)	1,516,841
Mid Corp America	122,811,139	79,785,681	(803,675)	78,982,006
New Economy	122,748,101	28,701,057	(1,715,810)	26,985,247
Real Strategies	23,203,201	675,937	(258,622)	417,315
Rotating Markets	43,902,520	14,284,481	(101,106)	14,183,375
Situs Small Cap	116,463,169	39,434,884	(3,423,498)	36,011,386
Fixed Income	202,290,890	1,174,146	(2,647,945)	(1,473,799)
Intermediate Government Income	114,125,719	62,684	(2,569,832)	(2,507,148)
Michigan Tax-Free	19,875,098	122,793	(188,978)	(66,185)
Mortgage Securities	90,032,110	2,937,887	(2,063,911)	873,976
Ohio Tax-Free	38,285,693	149,499	(450,005)	(300,506)
Short/Intermediate Fixed Income	90,103,283	20,831	(1,190,540)	(1,169,709)

* The difference between the book-basis and tax-basis cost of securities is attributable primarily to tax deferral of losses on wash sales.

As of December 31, 2006, for federal income tax purposes, the following Funds had capital loss carryforwards available to offset future capital gains, if any to the extent provided by the Treasury regulations.

*Fund*	*Amount*	*Expires*

Florida Tax-Free Money	$231	2011
Florida Tax-Free Money	1,529	2012
Florida Tax-Free Money	5,818	2013
Florida Tax-Free Money	4,861	2014
Money Market	490,061	2011
Money Market	3,032	2012
Money Market	7,224	2013
Money Market	921	2014
Ohio Municipal Money Market	12,756	2012
Ohio Municipal Money Market	25,291	2013
Ohio Municipal Money Market	7,739	2014
Intermediate Government	382,474	2014
Michigan Tax Free	170,059	2014
Ohio Tax Free	6,525	2014
Short/Intermediate Fixed Income	1,451,394	2009
Short/Intermediate Fixed Income	612,397	2013
Short/Intermediate Fixed Income	1,409,364	2014

The tax character of distributions paid during the fiscal year ended December 31, 2006, 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

Florida Tax-Free Money

$--

$842,641

$--

$842,641

Money Market

32,528,492

Ohio Municipal Money Market

4,252,664

U.S. Treasury Money Market

25,334,123

Dividend Capture

8,962,340

1,669,303

10,631,643

Growth

473,533

32,903,093

33,376,626

Income Equity

3,919,922

18,593,748

22,513,670

19,136

22,532,806

International Equity

2,843,815

17,103,183

19,946,998

Macro 100

506,471

449,995

956,466

Mid Corp America

46,261

2,887,146

2,933,407

New Economy

8,569,753

Rotating Markets

435,927

715,399

1,151,326

Situs Small Cap

439,071

5,348,984

5,788,055

Fixed Income

6,747,565

Intermediate Government Income

4,182,820

13,140

4,195,960

Michigan Tax-Free

562

618,715

619,277

Mortgage Securities

3,177,669

546,494

3,724,163

Ohio Tax-Free

3,758

1,349,824

1,353,582

Short/Intermediate Fixed Income

3,451,465

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

As of December 31, 2006, the components of accumulated earnings (deficit) on a tax basis 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)*

Florida Tax-Free Money	$2	$--	$--	$2	$--	$(12,439)	$--	$(12,437)
Money Market	--	--	--	--	--	(501,238)	--	(501,238)
Ohio Municipal Money Market	--	--	--	--	--	(47,253)	--	(47,253)
U.S. Treasury Money Market	--	--	--	--	(3,321)	(6,424)	--	(9,745)
Dividend Capture	--	1,342,638	482,042	1,824,680	--	--	9,877,824	11,702,504
Growth	--	94,545	5,035,871	5,130,416	--	--	99,306,642	104,437,058
Income Equity	--	--	--	--	--	--	58,347,845	58,347,845
International Equity	--	247,868	6,704,205	6,952,073	--	--	77,365,685	84,317,758
Macro 100	--	1,496,077	981,437	2,477,514	--	--	1,696,443	4,173,957
Mid Corp America	--	3,695	1,370,822	1,374,517	--	--	68,457,628	69,832,145
New Economy	--	--	403,041	403,041	--	--	26,590,204	26,993,245
Rotating Markets	--	66,190	--	66,190	--	--	11,252,251	11,318,441
Situs Small Cap	--	--	1,576,685	1,576,685	--	--	28,409,550	29,986,235
Fixed Income	--	33,316	--	33,316	--	(76,105)	784,498	741,709
Intermediate Government Income	--	--	--	--	(9,081)	(382,474)	(1,247,154)	(1,638,709)
Michigan Tax-Free	13,509	--	--	13,509	--	(170,059)	295,850	139,300
Mortgage Securities	--	77,075	--	77,075	--	(34,386)	2,810,838	2,853,527
Ohio Tax-Free	1	--	--	1	--	(6,525)	361,646	355,122
Short/Intermediate Fixed Income	--	1	--	1	(1,059)	(3,548,752)	(1,109,849)	(4,659,659)

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

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, 2006, the Funds deferred to January 3, 2007 post-October capital losses, post-October currency losses and post-October passive foreign investment company losses as follows:

*Fund*		*Capital* *Losses*

Ohio Municipal Money Market		$1,467
U.S. Treasury Money Market		6,424
Fixed Income		76,105
Mortgage Securities		34,386
Short/Intermediate Fixed Income		75,597

As required, effective June 29, 2007, the Funds adopted Financial Accounting Standards Board Interpretation No. 48, Accounting for Uncertainty in Income Taxes (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The adoption of FIN 48 did not impact the Funds’ net assets or results of operations.

E. 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.

F. When-Issued and Delayed Transactions

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

G. Foreign Exchange Contracts

International Equity, Real Strategies, Rotating Markets and Situs Small Cap may enter into foreign currency commitments for the delayed delivery of securities or foreign currency exchange transactions. International Equity, Real Strategies, Rotating Markets and Situs Small Cap may enter into foreign currency contract transactions to protect assets against adverse changes in foreign currency exchange rates or exchange control regulations. Purchase contracts are used to acquire exposure to foreign currencies, while contracts to sell are used to hedge the securities against currency fluctuations. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their commitments and from unanticipated movements in security prices or foreign exchange rates. The foreign currency translations are adjusted by the daily exchange rate of the underlying currency and any gains or losses are recorded for financial statement purposes as unrealized until the settlement date. At June 30, 2007, International Equity, Real Strategies, Rotating Markets and Situs Small Cap had no outstanding foreign currency commitments.

H. Foreign Currency Translation

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

I. Written Options Contracts

Certain 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.

The following is a summary of Dividend Capture’s written option activity for the period ended June 30, 2007:

*Contracts*	*Number of* *Contracts*	*Premium*

Outstanding at 12/31/2006	170	$18,079

Options written	750	110,247

Options expired	--	--

Options closed	(450)	(75,147)

Options exercised	(170)	(18,079)

Outstanding at 6/30/2007	300	$35,100

At June 30, 2007, Dividend Capture had the following outstanding options:

WRITTEN OPTION CONTRACTS

Contracts

Type

Expiration
Date

Exercise
Price

Number of
Contracts

Fair
Value

Unrealized
Appreciation

American Capital Strategies

Call

November 2007

$50

200

$11,500

$13,900

Morgan Stanley

Call

July 2007

100

3,500

6,200

NET UNREALIZED APPRECIATION ON WRITTEN OPTION CONTRACTS

$20,100

The following is a summary of Income Equity’s written option activity for the period ended June 30, 2007:

*Contracts*	*Number of* *Contracts*	*Premium*

Outstanding at 12/31/2006	7,286	$2,106,527

Options written	10,321	2,213,231

Options expired	--	--

Options closed	(12,422)	(3,258,279)

Options exercised	--	--

Outstanding at 6/30/2007	5,185	$1,061,479

At June 30, 2007, Income Equity had the following outstanding options:

WRITTEN OPTION CONTRACTS

Contracts

Type

Expiration
Date

Exercise
Price

Number of
Contracts

Fair
Value

Unrealized
Appreciation
(Depreciation)

AT&T, Inc.

Call

January 2008

$45

534

$77,430

$(12,275)

Aetna, Inc.

Call

January 2008

460

39,100

26,218

Apache Corp.

Call

January 2008

388

223,100

(51,607)

Devon Energy Corp.

Call

January 2008

150

37,875

5,174

Marathon Oil Corp.

Call

January 2008

62.5

362

173,760

(49,415)

Nokia Corp.

Call

January 2008

1,484

259,700

17,804

Occidental Petroleum Corp.

Call

January 2008

62.5

467

156,445

(55,107)

Sprint Nextel Corp.

Call

November 2007

1,180

41,300

90,858

Valero Energy Corp.

Call

December 2007

160

68,800

12,319

NET UNREALIZED DEPRECIATION ON WRITTEN OPTION CONTRACTS

$(16,031)

The following is a summary of Real Strategies’ written option activity for the period ended June 30, 2007:

*Contracts*	*Number of* *Contracts*	*Premium*

Outstanding at 12/31/2006	--	$--

Options written	1,384	222,105

Options expired	(219)	(57,852)

Options closed	(114)	(17,448)

Options exercised	(90)	(10,760)

Outstanding at 6/30/2007	961	$136,045

At June 30, 2007, Real Strategies had the following outstanding options:

WRITTEN OPTION CONTRACTS

Contracts

Type

Expiration
Date

Exercise
Price

Number of
Contracts

Fair
Value

Unrealized
Appreciation
(Depreciation)

A.K. Steel Holding Corp.

Put

July 2007

$32.5

100

$2,250

$6,650

Allegheny Technologies, Inc.

Put

July 2007

110

15,720

(5,472)

Century Aluminum Co.

Put

July 2007

18,000

6,349

General Cable Corp.

Put

July 2007

4,050

8,070

Goldcorp, Inc.

Put

July 2007

22.5

150

5,625

4,725

Lubrizol Corp.

Put

July 2007

8,875

(1,525)

Metal Management, Inc.

Put

July 2007

5,687

(1,068)

Posco

Put

July 2007

120

6,240

(3,408)

Posco

Put

July 2007

125

10,960

(5,628)

Peabody Energy Corp.

Put

July 2007

1,800

(840)

Peabody Energy Corp.

Put

July 2007

10,100

(3,820)

Potash Corp. of Saskatche

Put

July 2007

2,813

742

Potash Corp. of Saskatche

Put

July 2007

975

350

Potash Corp. of Saskatche

Put

July 2007

83.38

1,350

555

Precision Castparts Corp.

Put

July 2007

115

2,188

4,357

Terex Corp.

Put

July 2007

3,000

4,020

Tesoro Corp.

Put

July 2007

6,125

225

Tesoro Corp.

Put

July 2007

52.5

2,750

950

Dryships, Inc.

Put

July 2007

100

1,000

11,305

NET UNREALIZED APPRECIATION ON WRITTEN OPTION CONTRACTS

$26,537

The following is a summary of Situs Small Cap’s written option activity for the period ended June 30, 2007:

*Contracts*	*Number of* *Contracts*	*Premium*

Outstanding at 12/31/2006	--	$--

Options written	50	16,850

Options expired	--	--

Options closed	--	--

Options exercised	(50)	(16,850)

Outstanding at 6/30/2007	--	$--

At June 30, 2007, Situs Small Cap had no outstanding options.

J. 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. Information on the investment of cash collateral is shown in the table that follows. The Funds receive payments from borrowers equivalent to the dividends and interest that would have been earned on securities on loan. In addition, the Funds retain all or a portion of the interest received on investment of collateral or receive a fee from the borrower. Collateral is marked to market daily. One of the risks in lending portfolio securities, as with other extensions of credit, is the possible delay in recovery of the securities or possible loss of rights in the collateral should the borrower fail financially. 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. PFPC Trust Co. (“PFPC”) serves as the sub-custodian for the security lending program. PFPC 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, 2007, the following Funds had securities with the following market values on loan:

*Fund*	*Market Value* *of Loaned* *Securities*	*Market Value of* *Collateral*

Dividend Capture	$15,766,962	$16,322,757
Growth	14,232,677	14,611,419
Income Equity	26,618,550	28,130,391
Mid Corp America	25,473,159	26,309,205
New Economy	19,569,517	19,979,767
Situs Small Cap	20,494,760	21,159,871
Fixed Income	23,616,733	23,973,864
Intermediate Government Income	6,734,850	6,835,500
Mortgage Securities	2,498,024	2,581,176

As of June 30, 2007, cash collateral invested was as follows:

	*Master* *Note*	*Money* *Market Fund*	*Time* *Deposits*	*Other* *Short-Term* *Securities*	*Total*

Dividend Capture	$1,458,476	$11,926,001	$2,101,577	$836,703	$16,322,757
Growth	--	11,494,864	2,022,908	1,093,647	14,611,419
Income Equity	2,065,340	22,147,390	3,917,661	--	28,130,391
Mid Corp America	--	22,354,780	3,954,425	--	26,309,205
New Economy	--	16,976,693	3,003,074	--	19,979,767
Situs Small Cap	--	17,979,421	3,180,450	--	21,159,871
Fixed Income Securities	--	20,370,455	3,603,409	--	23,973,864
Intermediate Government Income	--	5,808,085	1,027,415	--	6,835,500
Mortgage Securities	--	2,193,210	387,966	--	2,581,176

K. Restricted Securities

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

L. Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets, liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses for the period. Actual results could differ from those estimated.

M. Security Transactions and Related Income

During the period, investment transactions are accounted for no later than the first calculation of 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.

N. New Accounting Pronouncements

In September 2006, FASB issued Statement on Financial Accounting Standards (SFAS) No. 157, “Fair Value Measurements.” This standard establishes a single authoritative definition of fair value, sets out a framework for measuring fair value and requires additional disclosures about fair value measurements. SFAS No. 157 applies to fair value measurements already required or permitted by existing standards. The changes to current generally accepted accounting principles from the application of this statement relate to the definition of fair value, the methods used to measure fair value, and the expanded disclosures about fair value measurements. SFAS No. 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007 and interim periods within those fiscal years. As of December 31, 2006, the Funds do not believe the adoption of SFAS No. 157 will impact the financial statement amounts, however, additional disclosures may be required about the inputs used to develop the measurements and the effect of certain of the measurements on changes in net assets for the period.

(3) Investment Advisory Fee and Other Transactions with Affiliates

Investment Advisory Fee--Huntington Asset Advisors, Inc., a subsidiary of the Huntington National Bank (“Huntington”) serves as the Funds’ investment adviser. The Advisor receives for its services an annual investment advisory fee based on a percentage of each Fund’s average daily net assets as listed below.

*Fund*				*Annual* *Rate*

U.S. Treasury Money Market				0.20%
Dividend Capture				0.75%
Growth				0.60%
Income Equity				0.60%
International Equity				1.00%
Macro 100				0.75%
Mid Corp America				0.75%
New Economy				0.85%
Real Strategies				0.75%
Rotating Markets				0.50%
Situs Small Cap				0.75%
Fixed Income				0.50%
Intermediate Government Income				0.50%
Michigan Tax-Free				0.50%
Mortgage Securities				0.50%
Ohio Tax-Free				0.50%
Short/Intermediate Fixed Income				0.50%

For Money Market, Ohio Municipal Money Market and Florida Tax-Free Money, the Advisor receives for its services an annual investment advisory fee based on a percentage of each Fund’s average daily net assets on tiered basis, as listed below.

*Tiered*		*Annual* *Rate*

Up to $500 million		0.30%
On the next $500 million		0.25%
In excess of $1 billion		0.20%

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.

Sub-Investment Advisory Fee--Laffer Investments, Inc. is the sub-investment adviser (the “Sub-Advisor”) of Macro 100 (the “Fund”). The Advisor pays the Sub-Advisor a fee for its services, computed daily and paid monthly, at an annual rate of 0.50% of the average daily net assets of the Fund. Neither the Trust nor the Fund is liable for payment of this sub-advisory fee.

Administrative and Financial Administration Fees--Huntington is the Administrator to the Trust, and Federated Services Company (“FServ”) is the Sub-Administrator. As Administrator, Huntington provides the Funds with certain administrative services. As Sub-Administrator, FServ provides the Funds with certain administrative personnel, and generally assists with the provision of administrative services necessary to operate the Funds.

Huntington provides administrative services at the following annual rate:

*Maximum Administrative Fee*		*Average Daily Net Assets of the Funds*

0.135 of 1%		on the first $4 billion
0.125 of 1%		on the next $3 billion
0.115 of 1%		on assets in excess of $7 billion

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

FServ receives a fee from Huntington for providing sub-administrative services at the following annual rate:

*Maximum Sub-Administrative Fee*		*Average Daily Net Assets of the Funds*

0.05%		on the first $3 billion
0.04%		on the next $2 billion
0.03%		on assets in excess of $5 billion

There is a minimum annual fee per Fund of $50,000.

Huntington also serves as financial administrator, providing portfolio accounting services to the Funds. Huntington has sub-contracted certain fund accounting services to BISYS Fund Services Ohio, Inc. (“BISYS”). BISYS (the “Sub Financial Administrator”) is paid directly by Huntington, not the Funds, for these services. The fees paid for administrative, sub-administrative, financial administrative and sub-financial administrative services are based on the level of average net assets of each Fund for the period, subject to minimum fees in certain circumstances. FServ and Edgewood Services, Inc. (“Edgewood”), the Trust’s distributor, are wholly-owned subsidiaries of Federated Investors, Inc.

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 Edgewood, the Funds’ distributor, for distribution services in connection with Investment A Shares and Investment B Shares not to exceed 0.25% and 0.75% of the daily net assets of each Fund’s Investment A Shares and Investment B Shares, respectively. Investment A Shares and Trust Shares are also subject to either a shareholder servicing administrative fee of 0.25% of each class’ average daily net assets to be paid to Huntington or a shareholder services fee not to exceed 0.25% of the daily net assets of such shares to be paid to Edgewood. Investment B Shares are subject to a shareholder services fee not to exceed 0.25% of the daily net assets of such shares. Trust Shares are not subject to Rule 12b-1 fees. For the six-months ended June 30, 2007, Huntington and its affiliates received $4,683,473 in shareholder service fees. For the six-months ended June 30, 2007, Edgewood received commissions of $465,681 earned on sales of Investment A Shares and from redemption of Investment A and Investment B Shares, of which $460,267 was re-allowed to affiliated broker-dealers of the Funds.

Transfer and Dividend Disbursing Agent Fees and Expenses--Unified Fund Services, Inc. (“Unified”) a subsidiary of Huntington is transfer and dividend disbursing agent for the Funds. For its services, Unified receives a yearly fixed amount per shareholder account, subject to a yearly minimum fee of $6,000 for each Fund. 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 each of the Funds’ custodian, except International Equity. State Street Bank and Trust Company serves as custodian for International Equity. The Bank of New York serves as sub-custodian of Real Strategies and Situs Small Cap’s foreign assets. Huntington, State Street Bank and Trust Company, and Bank of New York receive fees based on the level of a Fund’s average daily net assets for the period, plus out-of-pocket expenses.

PFPC serves as sub-custodian for the securities lending program and 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.

Compliance Services--The Trust contracted with Huntington to provide a Chief Compliance Officer to the Trust, for which it pays Huntington $130,000 annually.

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

Pursuant to an exemptive order issued by the Securities and Exchange Commission, the Funds may invest in certain affiliated money market funds which are managed by the Advisor. Income distributions earned from investments in these funds are recorded as income in the accompanying financial statements. A summary of each Fund’s investment in such affiliated money market funds (Huntington Money Market Fund) is set forth below:

Fund

12/31/06
Balance

Purchases

Sales

6/30/07
Balance

Income

Value

Dividend Capture

$5,262,480

$14,654,011

$(18,515,712)

$1,400,779

$46,287

$1,400,779

Growth

5,726,245

14,782,631

(19,072,269)

1,436,607

43,605

1,436,607

Income Equity

1,882,538

20,515,115

(19,442,079)

2,955,574

33,849

2,955,574

Macro 100

1,466,371

8,468,951

(9,317,170)

618,152

18,863

618,152

Mid Corp America

1,684,626

22,094,840

(19,271,450)

4,508,016

61,089

4,508,016

New Economy

4,462,898

11,032,108

(11,551,118)

3,943,888

90,251

3,943,888

Real Strategies*

4,499,636

(3,990,162)

509,474

6,380

509,474

Rotating Markets

1,884,232

8,566,997

(9,285,809)

1,165,420

48,024

1,165,420

Situs Small Cap

2,166,425

28,119,976

(27,802,572)

2,483,829

131,381

2,483,829

Fixed Income

3,471,043

28,523,466

(30,043,597)

1,950,912

44,086

1,950,912

Intermediate Government Income

1,039,293

18,286,238

(16,868,225)

2,457,306

52,715

2,457,306

Mortgage Securities

1,002,498

11,103,796

(9,603,977)

2,502,317

66,420

2,502,317

Short/Intermediate Fixed Income

87,728

15,261,982

(15,206,320)

143,390

35,686

143,390

*The fund commenced operations on May 1, 2007.

(4) Rotating Markets Structure

Rotating Markets (“Fund”), in accordance with its prospectus, seeks to achieve its investment objectives by investing in other investment companies (“Underlying Funds”) with similar investment objectives. As a result, investors in the Fund incur expenses of both the Fund 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 and long-term U.S. government securities (and in-kind contributions), for the six-months ended June 30, 2007, were as follows:

*Fund*	*Purchases*	*Sales*

Dividend Capture	$79,200,550	$71,718,422
Growth	125,542,169	127,942,991
Income Equity	124,712,751	133,753,567
International Equity	34,611,284	24,571,299
Macro 100	66,711,918	71,841,468
Mid Corp America	7,706,970	15,252,808
New Economy	75,333,905	69,585,665
Real Strategies*	15,706,795	1,061,427
Rotating Markets	27,155,588	19,824,293
Situs Small Cap	27,754,769	15,563,296
Fixed Income	53,441,359	48,080,856
Intermediate Government Income	17,863,279	21,342,559
Michigan Tax-Free	2,508,310	4,150,713
Mortgage Securities	12,076,909	10,008,901
Ohio Tax-Free	5,053,259	9,391,203
Short/Intermediate Fixed Income	12,020,275	18,255,830

* For the period May 1, 2007 (date of commencement of operations) to June 30, 2007.

Purchases and sales of long-term U.S. Government securities for the six months ended June 30, 2007, were as follows:

*Fund*	*Purchases*	*Sales*

Fixed Income	$33,829,121	$39,077,394
Intermediate Government Income	17,863,279	21,342,559
Mortgage Securities	11,714,934	10,636,410
Short/Intermediate Fixed Income	5,006,060	10,459,665

(6) Concentration of Credit Risk

Since each of Florida Tax-Free Money, Michigan Tax-Free, Ohio Municipal Money Market and Ohio Tax-Free invest a substantial portion of their assets in issuers located in one state, they will be more susceptible to factors adversely affecting issuers of that state than would be a comparable tax-exempt mutual fund that invests nationally. In order to reduce the credit risk associated with such factors, at June 30, 2006, the securities in the portfolio of investments are backed by letters of credit or bond insurance of various financial institutions and financial guaranty assurance agencies, as indicated below. The largest percentage of investments insured by or supported (backed) by a letter of credit from any one institution or agency is indicated below.

*Fund*	*Percentage of* *Portfolio* *Guaranteed/* *Insured*	*Percentage of* *Portfolio* *Backed by* *Largest* *Guarantor/* *Insurer*

Florida Tax-Free Money	76.83%	10.80%
Michigan Tax-Free	74.42%	23.56%
Ohio Municipal Money Market	48.07%	6.32%
Ohio Tax-Free	41.25%	15.21%

(7) Subsequent Event

Effective August 15, 2007, the Huntington Florida Tax-Free Money Market Fund changed its name to the Huntington Tax-Free Money Market Fund.

Investment Contract Review Disclosure (Unaudited)

Board of Trustees’ Consideration of Investment Advisory Agreement for the
Huntington Real Strategies Fund (the “Fund”)

At a meeting held on February 13, 2007, the Board, including a majority of the independent Trustees, approved the investment advisory agreement (the “Advisory Agreement”) between Huntington Asset Advisors, Inc. (the “Advisor”) and the Fund. Pursuant to the Advisory Agreement between the Advisor and the Fund, the Advisor provides advisory services to the Fund.

During the review process, the Board received assistance and advice from, and met separately with, independent legal counsel. In approving the Advisory Agreement, the Board, including a majority of the independent Trustees, considered many factors, the most material of which were: (1) the nature, extent and quality of the services to be provided to the Fund by the Advisor in relation to the advisory fee; (2) whether the Advisor will realize economies of scale in providing services to the Fund and if these economies will be shared with the Fund; and (3) a comparison of the fees of comparable funds. Performance, costs of services and profitability were not considered as the Fund had not commenced operations.

Nature, Extent and Quality of Services in Relation to the Advisory Fee. In considering the nature, extent and quality of the services to be provided by the Advisor, the Board reviewed information relating to the Advisor’s operations and personnel. Among other things, the Advisor provided descriptions of its organizational and management structure, biographical information about its supervisory and portfolio management staff, and financial information. The Trustees also took into account the financial condition of the Advisor with respect to its ability to provide the services required under the Advisory Agreement. The Board was very familiar with the services to be provided by the Advisor as the Advisor serves as such for the other funds in The Huntington Funds Complex. The Board determined that the nature, extent and quality of the services to be provided by the Advisor, in relation to the Advisory fee, were acceptable.

Economies of Scale in Providing Services to the Fund and Whether these Economies Will be Shared with the Fund. The Board also considered the effect of the Fund’s size on its fees. The Board considered the fees under the Advisory Agreement and possible economies of scale that may be realized as the assets of the Fund grow. The Board also noted that if the Fund’s assets increase over time, the Advisor may realize economies of scale. The Board concluded that in the near future, the Fund would likely not be large enough to realize economies of scale. In addition, the Board also noted that the administration fee charged to the Fund included fee breakpoints, which allows the Fund to realize economies of scale as the assets of the Fund increase over time.

Comparison of the Fees of Comparable Funds. With respect to the Fund’s fee, the Board considered comparisons to other mutual funds with comparable investment programs to be particularly useful, given the high degree of competition in the mutual fund business. The Board noted that the proposed fee appeared to be in line with the comparisons.

Other Considerations. The Board also requests and receives substantial and detailed information about the other funds in The Huntington Funds Complex on a regular basis. The Advisor provides much of this information at each regular meeting of the Board, and furnishes additional reports in connection with the Board’s formal review of other advisory arrangements. The Board may also receive information in between regular meetings relating to particular matters as the need arises. The Board’s evaluation of the advisory relationship also included reports covering such matters as: the Advisor’s investment philosophy, personnel, and processes; operating strategies; the other Huntington Funds’ short- and long-term performance (in absolute terms, both on a gross basis and net of expenses, as well as in relationship to its particular investment program and certain competitive funds and/or other benchmarks, as appropriate) and comments on reasons for performance. The Board also considers reports concerning the other Huntington Funds’ expenses (including the advisory fee itself and the overall expense structure of the other Huntington Funds, both in absolute terms and relative to similar and/or competing funds, with due regard for contractual or voluntary expense limitations); the use and allocation of brokerage commissions derived from trading the other Huntington Funds’ portfolio securities; the nature and extent of the advisory and other services provided to the other Huntington Funds by the Advisor and its affiliates; compliance and audit reports concerning the other Huntington Funds (including communications from regulatory agencies), as well as the Advisor’s responses to any issues raised therein; and relevant developments in the mutual fund industry and how the other Huntington Funds and/or the Advisor are responding to them. In the course of their deliberations regarding the Advisory Agreement, the Board also evaluated, among other things, the Advisor’s ability to supervise the Fund’s other service providers and their compliance programs.

The Board based its decision to approve the Advisory Agreement on the totality of the circumstances and relevant factors and with a view to past and future long-term considerations. The Board did not consider any one of the factors identified above to be determinative.

Supplemental Information (unaudited)

Shareholder Expense Example

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

The examples are based on an investment of $1,000.00 invested at the beginning of the period and held for the entire six-month period from January 1, 2007 to June 30, 2007.

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 expense that you paid over the period. Simply divide your account value by $1,000 (for example, $8,600 account value divided by $1,000 = 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 the 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 front-end or contingent deferred sales charges (loads). 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, 2007*	*Ending* *Account Value,* *June 30, 2007*	*Expenses Paid* *During* *Period(2)*	*Annualized* *Expense* *Ratio*

*Florida Tax-Free Money*

Trust	Actual	$ 1,000.00	$ 1,013.70	$4.54	0.91%
	Hypothetical(1)	$ 1,000.00	$ 1,020.49	$4.57	0.91%

Investment A	Actual	$ 1,000.00	$ 1,012.40	$5.79	1.16%
	Hypothetical(1)	$ 1,000.00	$ 1,019.25	$5.82	1.16%

*Money Market*

Trust	Actual	$ 1,000.00	$ 1,022.20	$4.06	0.81%
	Hypothetical(1)	$ 1,000.00	$ 1,020.98	$4.07	0.81%

Investment A	Actual	$ 1,000.00	$ 1,020.90	$5.31	1.06%
	Hypothetical(1)	$ 1,000.00	$ 1,019.74	$5.32	1.06%

Investment B	Actual	$ 1,000.00	$ 1,018.40	$7.81	1.56%
	Hypothetical(1)	$ 1,000.00	$ 1,017.26	$7.83	1.56%

Interfund	Actual	$ 1,000.00	$ 1,023.40	$2.81	0.56%
	Hypothetical(1)	$ 1,000.00	$ 1,022.22	$2.81	0.56%

*Ohio Municipal Money Market*

Trust	Actual	$ 1,000.00	$ 1,014.00	$4.24	0.85%
	Hypothetical(1)	$ 1,000.00	$ 1,020.78	$4.27	0.85%

Investment A	Actual	$ 1,000.00	$ 1,012.80	$5.49	1.10%
	Hypothetical(1)	$ 1,000.00	$ 1,019.55	$5.52	1.10%

*U.S Treasury Money Market*

Trust	Actual	$ 1,000.00	$ 1,021.70	$3.76	0.75%
	Hypothetical(1)	$ 1,000.00	$ 1,021.28	$3.77	0.75%

Investment A	Actual	$ 1,000.00	$ 1,020.40	$5.01	1.00%
	Hypothetical(1)	$ 1,000.00	$ 1,020.04	$5.02	1.00%

*Dividend Capture*

Trust	Actual	$ 1,000.00	$ 1,013.40	$6.59	1.32%
	Hypothetical(1)	$ 1,000.00	$ 1,018.45	$6.63	1.32%

Investment A	Actual	$ 1,000.00	$ 1,012.20	$7.83	1.57%
	Hypothetical(1)	$ 1,000.00	$ 1,017.21	$7.88	1.57%

Investment B	Actual	$ 1,000.00	$ 1,009.70	$10.31	2.07%
	Hypothetical(1)	$ 1,000.00	$ 1,025.00	$10.39	2.07%

*Growth*

Trust	Actual	$ 1,000.00	$ 1,069.80	$5.90	1.15%
	Hypothetical(1)	$ 1,000.00	$ 1,019.30	$5.77	1.15%

Investment A	Actual	$ 1,000.00	$ 1,068.40	$7.18	1.40%
	Hypothetical(1)	$ 1,000.00	$ 1,018.06	$7.03	1.40%

Investment B	Actual	$ 1,000.00	$ 1,066.00	$9.73	1.90%
	Hypothetical(1)	$ 1,000.00	$ 1,015.58	$9.54	1.90%

*Income Equity*

Trust	Actual	$ 1,000.00	$ 1,080.40	$5.98	1.16%
	Hypothetical(1)	$ 1,000.00	$ 1,019.25	$5.82	1.16%

Investment A	Actual	$ 1,000.00	$ 1,079.10	$7.27	1.41%
	Hypothetical(1)	$ 1,000.00	$ 1,018.01	$7.08	1.41%

Investment B	Actual	$ 1,000.00	$ 1,076.20	$9.83	1.91%
	Hypothetical(1)	$ 1,000.00	$ 1,025.00	$9.59	1.91%

*International Equity*

Trust	Actual	$ 1,000.00	$ 1,104.60	$8.19	1.57%
	Hypothetical(1)	$ 1,000.00	$ 1,017.21	$7.88	1.57%

Investment A	Actual	$ 1,000.00	$ 1,103.10	$9.44	1.81%
	Hypothetical(1)	$ 1,000.00	$ 1,016.02	$9.09	1.81%

Investment B	Actual	$ 1,000.00	$ 1,101.30	$12.04	2.31%
	Hypothetical(1)	$ 1,000.00	$ 1,013.54	$11.60	2.31%

*Macro 100*

Trust	Actual	$ 1,000.00	$ 1,059.40	$7.10	1.39%
	Hypothetical(1)	$ 1,000.00	$ 1,018.11	$6.98	1.39%

Investment A	Actual	$ 1,000.00	$ 1,057.20	$8.37	1.64%
	Hypothetical(1)	$ 1,000.00	$ 1,016.87	$8.23	1.64%

Investment B	Actual	$ 1,000.00	$ 1,054.30	$10.90	2.14%
	Hypothetical(1)	$ 1,000.00	$ 1,014.39	$10.74	2.14%

*Mid Corp America*

Trust	Actual	$ 1,000.00	$ 1,116.40	$6.93	1.32%
	Hypothetical(1)	$ 1,000.00	$ 1,018.45	$6.63	1.32%

Investment A	Actual	$ 1,000.00	$ 1,115.10	$8.23	1.57%
	Hypothetical(1)	$ 1,000.00	$ 1,017.21	$7.88	1.57%

Investment B	Actual	$ 1,000.00	$ 1,112.60	$10.84	2.07%
	Hypothetical(1)	$ 1,000.00	$ 1,014.74	$10.39	2.07%

*New Economy*

Trust	Actual	$ 1,000.00	$ 1,125.00	$7.53	1.43%
	Hypothetical(1)	$ 1,000.00	$ 1,017.91	$7.18	1.43%

Investment A	Actual	$ 1,000.00	$ 1,123.70	$8.85	1.68%
	Hypothetical(1)	$ 1,000.00	$ 1,016.67	$8.44	1.68%

Investment B	Actual	$ 1,000.00	$ 1,121.30	$11.47	2.18%
	Hypothetical(1)	$ 1,000.00	$ 1,014.19	$10.95	2.18%

*Real* *Strategies*
Trust*	Actual	$ 1,000.00	$ 1,022.00	$3.23	1.91%
	Hypothetical(1)	$ 1,000.00	$ 1,015.53	$9.59	1.91%

Investment A*	Actual	$ 1,000.00	$ 1,021.00	$3.65	2.16%
	Hypothetical(1)	$ 1,000.00	$ 1,014.29	$10.85	2.16%

Investment B*	Actual	$ 1,000.00	$ 1,020.00	$4.54	2.69%
	Hypothetical(1)	$ 1,000.00	$ 1,011.66	$13.51	2.69%

*Rotating Markets*

Trust	Actual	$ 1,000.00	$ 1,089.80	$5.75	1.11%
	Hypothetical(1)	$ 1,000.00	$ 1,019.50	$5.57	1.11%

Investment A	Actual	$ 1,000.00	$ 1,088.90	$7.04	1.36%
	Hypothetical(1)	$ 1,000.00	$ 1,018.26	$6.83	1.36%

Investment B*	Actual	$ 1,000.00	$ 1,086.30	$3.09	1.77%
	Hypothetical(1)	$ 1,000.00	$ 1,016.22	$8.89	1.77%

*Situs Small Cap*

Trust	Actual	$ 1,000.00	$ 1,130.10	$7.18	1.36%
	Hypothetical(1)	$ 1,000.00	$ 1,018.26	$6.83	1.36%

Investment A	Actual	$ 1,000.00	$ 1,128.50	$8.50	1.61%
	Hypothetical(1)	$ 1,000.00	$ 1,017.02	$8.08	1.61%

Investment B	Actual	$ 1,000.00	$ 1,125.40	$11.12	2.11%
	Hypothetical(1)	$ 1,000.00	$ 1,014.54	$10.59	2.11%

*Fixed Income*

Trust	Actual	$ 1,000.00	$ 1,005.80	$5.32	1.07%
	Hypothetical(1)	$ 1,000.00	$ 1,019.69	$5.37	1.07%

Investment A	Actual	$ 1,000.00	$ 1,004.60	$6.56	1.32%
	Hypothetical(1)	$ 1,000.00	$ 1,018.45	$6.63	1.32%

Investment B	Actual	$ 1,000.00	$ 1,002.60	$9.04	1.82%
	Hypothetical(1)	$ 1,000.00	$ 1,015.97	$9.14	1.82%

*Intermediate Government Income*

Trust	Actual	$ 1,000.00	$ 1,007.80	$5.48	1.10%
	Hypothetical(1)	$ 1,000.00	$ 1,019.55	$5.52	1.10%

Investment A	Actual	$ 1,000.00	$ 1,006.50	$6.72	1.35%
	Hypothetical(1)	$ 1,000.00	$ 1,018.31	$6.78	1.35%

Investment B	Actual	$ 1,000.00	$ 1,004.10	$9.19	1.85%
	Hypothetical(1)	$ 1,000.00	$ 1,015.83	$9.29	1.85%

*Michigan Tax-Free*

Trust	Actual	$ 1,000.00	$ 995.70	$6.58	1.33%
	Hypothetical(1)	$ 1,000.00	$ 1,018.40	$6.68	1.33%

Investment A	Actual	$ 1,000.00	$ 994.50	$7.81	1.58%
	Hypothetical(1)	$ 1,000.00	$ 1,017.16	$7.93	1.58%

Investment B	Actual	$ 1,000.00	$ 1,008.00	$10.41	2.09%
	Hypothetical(1)	$ 1,000.00	$ 1,014.64	$10.49	2.09%

*Mortgage Securities*

Trust	Actual	$ 1,000.00	$ 1,000.20	$5.50	1.11%
	Hypothetical(1)	$ 1,000.00	$ 1,019.50	$5.57	1.11%

Investment A	Actual	$ 1,000.00	$ 998.80	$6.69	1.35%
	Hypothetical(1)	$ 1,000.00	$ 1,018.31	$6.78	1.35%

Investment B	Actual	$ 1,000.00	$ 996.90	$9.21	1.86%
	Hypothetical(1)	$ 1,000.00	$ 1,015.78	$9.34	1.86%

*Ohio Tax-Free*

Trust	Actual	$ 1,000.00	$ 997.80	$5.94	1.20%
	Hypothetical(1)	$ 1,000.00	$ 1,019.05	$6.03	1.20%

Investment A	Actual	$ 1,000.00	$ 997.10	$7.18	1.45%
	Hypothetical(1)	$ 1,000.00	$ 1,017.81	$7.28	1.45%

Investment B	Actual	$ 1,000.00	$ 1,005.40	$9.70	1.95%
	Hypothetical(1)	$ 1,000.00	$ 1,015.33	$9.79	1.95%

*Short/Intermediate Fixed Income*

Trust	Actual	$ 1,000.00	$ 1,016.10	$5.40	1.08%
	Hypothetical(1)	$ 1,000.00	$ 1,019.64	$5.42	1.08%

Investment A	Actual	$ 1,000.00	$ 1,014.30	$6.64	1.33%
	Hypothetical(1)	$ 1,000.00	$ 1,018.40	$6.68	1.33%

* Information shown reflects values using expense ratios for the period from May 1, 2007 (date of commencement of operations) to June 30, 2007.

(1) Hypothetical assumes 5% annual return before expenses.

(2) Expenses are equal to the Funds’ annualized expense ratios for that class, 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 Fund’s Advisor for the period beginning January 1, 2007. The “Financial Highlights” tables in the Funds’ financial statements, included in this report, also show the gross expense ratios.

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 1-800-SEC-0330 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 Financial Administrator of the Huntington Funds and is the custodian of certain Funds. State Street Bank and Trust Company is also a custodian to one of the Funds. Unified Fund Services, Inc., a subsidiary of Huntington Bancshares, Inc., is the Funds’ transfer and dividend disbursing agent. Huntington Asset Advisors, Inc., a subsidiary of The Huntington National Bank, serves as Investment Advisor to the Funds. Federated Services Company and Edgewood Services, Inc., the Sub-Administrator and Distributor of the Huntington Funds, respectively, are not affiliated with The Huntington National Bank.

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

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

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

Cusip 446327504		Cusip 446327587
Cusip 446327603		Cusip 446327579
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Cusip 446327686		Cusip 446327538
Cusip 446327207		Cusip 446327264
Cusip 446327496		Cusip 446327462
Cusip 446327306		Cusip 446327488
Cusip 446327405		Cusip 446327470
Cusip 446327702		Cusip 446327777
Cusip 446327801		Cusip 446327694
Cusip 446327660		Cusip 446327769
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Cusip 446327645		Cusip 446327728
Cusip 446327884		Cusip 446327454
Cusip 446327678		Cusip 446327793
Cusip 446327876		Cusip 446327785
Cusip 446327868		Cusip 446327447
Cusip 446327710		Cusip 446327843
Cusip 446327850		Cusip 446327835
Cusip 446327637		Cusip 446327439
Cusip 446327629		Cusip 446327827
Cusip 446327611		Cusip 446327819
Cusip 446327330		Cusip 446327421
Cusip 446327322		Cusip 446327744
Cusip 446327314		Cusip 446327413
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Cusip 446327553		Cusip 446327280
Cusip 446327546		Cusip 446327272
Cusip 446327595

27608 (8/07)

[Logo of Huntington Funds]

Semi-Annual

Shareholder

Report

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 Rotating Markets Fund
Huntington VA Situs Small Cap Fund

Income Funds

Huntington VA Mortgage Securities Fund

JUNE 30, 2007

Huntington VA Dividend Capture Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2007

Asset Allocation		Percentage of Net Assets

Common Stock (includes 8.0% Real Estate Investment Trusts)		50.7%
Preferred Stock (includes 1.6% Real Estate Investment Trusts)		42.5%
Other Investments (Collateral for Securities Lending)		16.8%
Exchange Traded Funds		3.9%
Cash¹		3.5%
Liabilities in Excess of Other Assets		(17.4)%
TOTAL		100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Investments in an affiliated money market fund.

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)

June 30, 2007

Shares			Value
COMMON STOCKS -- 50.7%
		Consumer Discretionary -- 4.9%
11,500		CBS Corp., Class B (a)	$ 383,180
14,500		Newell Rubbermaid, Inc.	426,735
5,000		Sherwin-Williams Co.	332,350
10,000		Teppco Partners LP	443,600
14,500		The Travelers Companies, Inc.	775,750
13,000		The Walt Disney Co.	443,820

			2,805,435

		Consumer Staples -- 2.6%
29,000		ConAgra Foods, Inc.	778,940
11,000		Reynolds American, Inc.	717,200

			1,496,140

		Energy -- 4.7%
10,500		Chevron Texaco Corp.	884,520
9,000		ENI SpA	651,150
12,000		Nicor, Inc. (a)	515,040
8,000		Pinnacle West Capital	318,800
14,000		Xcel Energy, Inc.	286,580

			2,656,090

		Financials -- 11.3%
15,000		American Capital Strategies Ltd. (a)	637,800
17,000		Bank of America Corp. (a)	831,130
18,250		Chubb Corp.	988,055
7,500		Hartford Financial Services Group, Inc.	738,825
17,000		KeyCorp	583,610
7,500		Lincoln National Corp. (a)	532,125
6,000		Morgan Stanley	503,280
7,500		PartnerRe Ltd.	581,250
8,500		Wachovia Corp. (a)	435,625
4,000		Washington Mutual, Inc. (a)	170,560
12,500		Wells Fargo & Co. (a)	439,625

			6,441,885

		Health Care -- 3.8%
9,000		Baxter International, Inc.	$ 507,060
7,000		Merck & Co., Inc.	348,600
36,500		Pfizer, Inc.	933,305
6,500		Wyeth	372,710

			2,161,675

		Industrials -- 7.8%
6,500		Air Products & Chemical, Inc.	522,405
9,000		Cooper Industries Ltd., Class A	513,810
4,500		Eaton Corp.	418,500
10,000		Lockheed Martin Corp.	941,300
16,500		R.R. Donnelley & Sons Co.	717,915
14,000		Raytheon Co.	754,460
5,500		Snap-On, Inc.	277,805
2,500		Union Pacific Corp.	287,875

			4,434,070

		Materials -- 1.9%
11,000		Applied Materials, Inc. (a)	218,570
29,000		RPM International, Inc.	670,190
4,000		The Dow Chemical Co.	176,880

			1,065,640

		Real Estate Investment Trusts -- 8.0%
9,000		Apartment Investment & Management Co.	453,780
13,500		Brandywine Realty Trust (a)	385,830
12,000		CBL & Associates Properties, Inc.	432,600
13,000		Cedar Shopping Centers, Inc.	186,550
6,000		Colonial Properties Trust (a)	218,700
7,000		Entertainment Properties Trust	376,460
11,000		First Industrial Realty Trust, Inc. (a)	426,360
8,000		Highwoods Properties, Inc.	300,000
9,000		Home Properties, Inc.	467,370
11,000		Hospitality Properties Trust	456,390
10,000		Kimco Realty Corp.	380,700
4,000		Mack-Cali Realty Corp.	173,960
COMMON STOCKS -- (continued)
	Real Estate Investment Trusts -- (continued)
5,000		National Retail Properties, Inc.	$ 109,300
8,000		Realty Income Corp. (a)	201,520

			4,569,520

		Technology -- 3.0%
9,500		Accenture Ltd.	407,455
15,000		Hewlett Packard Co.	669,300
3,000		International Business Machines Corp.	315,750
25,215		Taiwan Semiconductor Manufacturing Co., Ltd. ADR	280,643

			1,673,148

		Telecommunications -- 2.7%
17,500		AT&T, Inc. (a)	726,250
998		Citadel Broadcasting Corp.	6,437
10,500		Verizon Communications, Inc. (a)	432,285
23,000		Windstream Corp.	339,480

			1,504,452

		Total Common Stocks (Cost $26,884,053)	28,808,055

PREFERRED STOCKS -- 42.5%
		Consumer Discretionary -- 1.6%
29,000		Comcast Corp., 7.000% (a)	734,570
6,000		Lincoln National Capital VI, Series F, 6.750%	149,400

			883,970

		Financials -- 34.3%
27,000		Abbey National PLC, Series C, 7.375%	678,240
45,000		ABN Amro Capital Funding Trust V, 5.900%	1,042,200
34,400		Ace Ltd., Series C, 7.800%	876,856
24,000		ASBC Capital I, 7.625%	603,360
15,000		BAC Capital Trust XII, 6.875%	384,300
28,000		CitiGroup Capital Trust VIII, 6.950%	701,400
32,000		Compass Capital, 7.350%	800,640
22,000		Countrywide Financial Capital IV, 6.750% (a)	514,360
29,800		Everest Re Capital Trust, 7.850%	756,622
4,000		Fleet Capital Trust VIII, 7.200%	100,680
50,978		General Electric Capital Corp., 6.100%	1,232,138
3,000		General Electric Capital Corp., Series A, 6.450%	76,110
12,492		Goldman Sachs Group, Inc., Series B, 6.200%	317,921
33,000		HSBC Holdings PLC, Series A, 6.200% (a)	787,050
52,000		ING Groep NV, 6.125%	1,223,560
20,000		JPMorgan Chase & Co., Series X, 7.000%	501,800
21,000		KeyCorp Capital VIII, 7.000%	531,300
30,000		Lehman Brothers Holdings, Inc., 6.500% (a)	762,000
		Financials -- (continued)
33,000		Merrill Lynch Capital Trust V, 7.280%	$ 831,600
10,000		Metlife, Inc., Series B, 6.500%	255,900
23,000		Morgan Stanley Capital Trust, 6.600%	563,500
31,000		National City Capital Trust II, 6.625%	756,400
13,613		PLC Capital Trust, 7.250%	340,189
1,900		Provident Financial Group, Inc., 8.375%	48,298
17,950		Prudential PLC, 6.500%	446,058
35,300		RenaissanceRe Holdings Ltd., Series B, 7.300%	892,031
45,000		Royal Bank of Scotland Group PLC, Series N, 6.350% (a)	1,089,000
27,000		SLM Corp., 6.000%	526,500
39,000		The Bank of New York, Inc. Capital V, 7.800%	905,580
10,000		Wells Fargo Capital Trust II, 7.000%	251,500
29,000		Wells Fargo Capital Trust VIII, 5.850%	678,310

			19,475,403

		Real Estate Investment Trusts -- 1.6%
1,400		Equity Residential Properties, Series D, 8.600%	34,888
2,400		Prologis Trust, Series F, 6.750%	59,496
35,100		Public Storage, Series F, 6.450%	816,075

			910,459

		Utilities -- 5.0%
20,000		AT&T, Inc., 7.000%	502,800
44,700		BGE Capital Trust II, 6.200%	1,051,791
21,400		Entergy LA, Inc., 7.600%	535,428
31,000		FPL Group Capital, Inc., Series A, 6.600%	771,280

			2,861,299

		Total Preferred Stocks (Cost $25,095,475)	24,131,131

MUTUAL FUNDS -- 3.9%
		Exchange Traded Funds -- 3.9%
35,500		AMEX Technology SPDR (a)	910,575
8,500		S&P Depositary Receipt (a)	1,277,550

		Total Mutual Funds (Cost $1,678,299)	2,188,125

CASH EQUIVALENTS -- 3.5%
2,013,747		Huntington Money Market Fund, Interfund Shares, 4.710%, (b) (c)	2,013,747

		Total Cash Equivalents (Cost $2,013,747)	2,013,747

Shares			Value
SHORT-TERM SECURITIES HELD AS COLLATERAL FOR SECURITIES LENDING -- 16.8%
		Pool of various securities for The Huntington Funds	$ 9,570,514

		Total Short-Term Securities Held as Collateral for Securities Lending (Cost $9,570,514)	9,570,514

Total Investments (Cost $65,242,088) -- 117.4%			66,711,572
Liabilities in Excess of Other Assets -- (17.4)%			(9,876,159)

Net Assets -- 100.0%			$ 56,835,413

Huntington VA Growth Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2007

Asset Allocation		Percentage of Net Assets

Technology		17.4%
Health Care		13.8%
Other Investments (Collateral for Securities Lending)		12.7%
Industrials		12.0%
Energy		11.1%
Consumer Staples		10.5%
Financials		10.1%
Consumer Discretionary		9.7%
Materials		4.9%
Utilities		4.1%
Cash¹		3.2%
Telecommunications		3.1%
Liabilities in Excess of Other Assets		(12.6)%
TOTAL		100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2007

Shares		Value
COMMON STOCKS -- 96.7%
	Consumer Discretionary -- 9.7%
1,220	Fortune Brands, Inc.	$ 100,491
2,800	Johnson Controls, Inc.	324,156
4,200	Kohl’s Corp.*	298,326
1,450	Marriott International, Inc., Class A	62,698
12,900	Mattel, Inc. (a)	326,241
7,540	McDonald’s Corp.	382,731
6,300	Nike, Inc. Class B	367,227
695	Nordstrom, Inc.	35,528
9,140	The Walt Disney Co.	312,040

		2,209,438

	Consumer Staples -- 10.5%
1,600	Bunge Ltd.	135,200
8,255	Colgate-Palmolive Co.	535,337
2,340	CVS Corp.	85,293
2,490	Fomento Economico Mexicano SA de CV ADR	97,907
5,230	General Mills, Inc.	305,537
11,090	Kroger Co.	311,962
2,000	Molson Coors Brewing Co., Class B	184,920
3,255	Procter & Gamble Co.	199,173
10,480	Walgreen Co.	456,299
1,322	WM Wrigley Jr. Co., Class B	72,049

		2,383,677

	Energy -- 11.1%
3,550	Devon Energy Corp.	277,930
7,190	Exxon Mobil Corp.	603,097
1,940	Marathon Oil Corp.	116,322
	Energy -- (continued)
10,690	Occidental Petroleum Corp. (a)	$ 618,737
10,490	Schlumberger, Ltd.	891,021

		2,507,107

	Financials -- 10.1%
5,970	American Express Co.	365,245
4,300	Ameriprise Financial, Inc.	273,351
1	Berkshire Hathaway, Inc., Class A*	109,475
3,420	Credit Suisse Group ADR	242,683
610	Franklin Resources, Inc.	80,807
1,195	Goldman Sachs Group, Inc. (a)	259,016
7,000	JPMorgan Chase & Co.	339,150
2,500	Metlife, Inc.	161,200
2,745	Prudential Financial, Inc.	266,896
2,875	State Street Corp.	196,650

		2,294,473

	Health Care -- 13.8%
8,725	Abbott Laboratories	467,224
7,855	Baxter International, Inc.	442,551
2,230	C.R. Bard, Inc.	184,265
1,000	Celgene Corp.* (a)	57,330
820	Laboratory Corporation of America Holdings*	64,173
3,600	Novo-Nordisk A/S	391,176
2,100	Roche Holdings Ltd. AG ADR	186,252
8,460	Schering-Plough Corp.	257,522
3,465	Stryker Corp.	218,607
4,375	Thermo Fisher Scientific, Inc.*	226,275
4,340	Wellpoint, Inc.*	346,462
4,890	Wyeth	280,392

		3,122,229

Shares		Value
COMMON STOCKS -- (continued)
	Industrials -- 12.0%
480	General Dynamics Corp.	$ 37,545
15,400	General Electric Co.	589,512
17,598	Illinois Tool Works, Inc. (a)	953,636
3,175	Lockheed Martin Corp.	298,863
1,800	Precision Castparts Corp.	218,448
3,585	Terex Corp.*	291,460
3,600	W.W. Grainger, Inc.	334,980

		2,724,444

	Materials -- 4.9%
2,210	BASF AG, ADR	288,869
1,182	Freeport-McMoran Copper & Gold, Inc.	97,893
5,755	Lafarge SA ADR (a)	262,140
3,460	Nucor Corp.	202,929
3,450	Praxair, Inc.	248,366

		1,100,197

	Technology -- 17.4%
1,260	Amphenol Corp., Class A	44,919
2,575	Apple Computer, Inc.*	314,253
4,245	ASM Holding NV*	116,525
12,300	Cisco Systems, Inc.*	342,555
5,000	Fidelity National Information Services, Inc.	271,400
380	Google, Inc., Class A* (a)	198,884
6,712	Hewlett Packard Co.	299,490
4,275	International Business Machines Corp.	449,944
4,035	MEMC Electronic Materials, Inc.*	246,619
19,320	Microsoft Corp.	569,360
31,000	Oracle Corp.* (a)	611,010
3,030	Telefonaktiebolaget LM Ericsson ADR	120,867
19,685	Xerox Corp.*	363,779

		3,949,605

Shares		Value
	Telecommunications -- 3.1%
9,280	AT&T, Inc. (a)	$ 385,120
701	Citadel Broadcasting Corp.	4,521
4,950	Telephone & Data Systems, Inc.	309,722

		699,363

	Utilities -- 4.1%
4,415	FirstEnergy Corp.	285,783
4,775	FPL Group, Inc.	270,934
9,190	NRG Energy, Inc.*	382,028

		938,745

	Total Common Stocks (Cost $18,583,660)	21,929,278

CASH EQUIVALENTS -- 3.2%
728,694	Huntington Money Market Fund, Interfund Shares, 4.710%, (b) (c)	728,694

	Total Cash Equivalents (Cost $728,694)	728,694

SHORT-TERM SECURITIES HELD AS COLLATERAL FOR SECURITIES LENDING -- 12.7%
	Pool of various securities for The Huntington Funds	2,886,590

	Total Short-Term Securities Held as Collateral for Securities Lending (Cost $2,886,590)	2,886,590

Total Investments (Cost $22,198,944) -- 112.6%		25,544,562
Liabilities in Excess of Other Assets -- (12.6)%		(2,856,525)

Net Assets -- 100.0%		$ 22,688,037

Huntington VA Income Equity Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2007

Asset Allocation		Percentage of Net Assets

Financials		28.7%
Other Investments (Collateral for Securities Lending)		15.2%
Technology		13.2%
Industrials		10.6%
Consumer Discretionary		9.2%
Energy		8.7%
Health Care		8.6%
Telecommunications		5.9%
Consumer Staples		5.5%
Materials		5.5%
Utilities		3.7%
Cash¹		0.7%
Liabilities in Excess of Other Assets		(15.5)%
TOTAL		100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2007

Shares		Value
COMMON STOCKS -- 99.6%
	Consumer Discretionary -- 9.2%
30,200	CBS Corp., Class B (a)	$ 1,006,264
6,400	Cummins Engine, Inc.	647,744
6,800	Gannett Co., Inc. (a)	373,660
9,900	Genuine Parts Co.	491,040
14,600	Royal Caribbean Cruises Ltd. (a)	627,508
18,200	Time Warner, Inc.	382,928
2,400	V.F. Corp.	219,792

		3,748,936

	Consumer Staples -- 5.5%
17,400	Archer-Daniels-Midland Co.	575,766
20,200	Constellation Brands, Inc.* (a)	490,456
6,500	General Mills, Inc.	379,730
8,700	Molson Coors Brewing Co., Class B	804,402

		2,250,354

	Energy -- 8.7%
5,900	American Electric Power Co., Inc.	265,736
7,300	Apache Corp.	595,607
6,100	Chevron Texaco Corp.	513,864
7,400	ConocoPhillips	580,900
2,900	Devon Energy Corp.	227,041
7,000	Marathon Oil Corp.	419,720
9,100	Occidental Petroleum Corp.	526,708
3,400	Progress Energy, Inc. (a)	155,006
3,100	Valero Energy Corp.	228,966

		3,513,548

	Financials -- 28.7%
15,700	Bank of America Corp. (a)	767,573
21,400	BB&T Corp.	870,552
21,100	CitiGroup, Inc.	1,082,219
	Financials -- (continued)
13,800	Comerica, Inc.	$ 820,686
17,600	JPMorgan Chase & Co.	852,720
13,400	Lincoln National Corp. (a)	950,730
16,800	Loews Corp.	856,464
35,000	Progressive Corp.	837,550
24,200	Regions Financial Corp. (a)	801,020
10,000	SunTrust Banks, Inc. (a)	857,400
9,300	Torchmark Corp.	623,100
19,100	Unitrin, Inc.	939,338
14,800	Wachovia Corp. (a)	758,500
16,000	Washington Mutual, Inc. (a)	682,240

		11,700,092

	Health Care -- 8.6%
9,200	Aetna, Inc.	454,480
6,500	Johnson & Johnson	400,530
10,200	King Pharmaceuticals, Inc.*	208,692
10,500	Merck & Co., Inc.	522,900
18,900	Pfizer, Inc.	483,273
11,300	Sanofi-Aventis, ADR	455,051
7,400	Teva Pharmaceutical Industries Ltd.	305,250
11,800	Wyeth	676,612

		3,506,788

	Industrials -- 10.6%
4,400	Fedex Corp.	488,268
14,000	General Electric Co.	535,920
10,800	Ingersoll Rand Co.	592,056
7,100	L-3 Communications Corp. (a)	691,469
Shares		Value
COMMON STOCKS -- (continued)
	Industrials -- (continued)
14,600	Masco Corp. (a)	$ 415,662
10,700	Parker Hannifin Corp.	1,047,637
12,700	R.R. Donnelley & Sons Co. (a)	552,577

		4,323,589

	Materials -- 5.5%
15,800	Du Pont (E.I.) de Nemours & Co. (a)	803,272
9,600	PPG Industries, Inc.	730,656
15,500	The Dow Chemical Co.	685,410

		2,219,338

	Technology -- 13.2%
8,600	Automatic Data Processing, Inc.	416,842
15,200	Cisco Systems, Inc.*	423,320
9,900	Hewlett Packard Co.	441,738
3,900	International Business Machines Corp.	410,475
30,500	Nokia Corp.	857,355
21,800	Oracle Corp.*	429,678
14,800	Seagate Technology	322,196
22,800	Symantec Corp.*	460,560
96,900	United Microelectronics Corp. ADR (a)	331,398
12,300	United Technologies Corp.	872,439
22,600	Xerox Corp.*	417,648

		5,383,649

Shares		Value
	Telecommunications -- 5.9%
10,400	AT&T, Inc.	$ 431,600
4,400	BT Group PLC ADR	292,952
32,800	Deutsche Telecom AG ADR	603,848
23,100	Sprint Corp.	478,401
9,600	Telephone & Data Systems, Inc.	600,672

		2,407,473

	Utilities -- 3.7%
6,800	Consolidated Edison, Inc.	306,816
6,800	DTE Energy Co.	327,896
24,400	Duke Energy Corp.	446,520
24,700	TECO Energy, Inc.	424,346

		1,505,578

	Total Common Stocks (Cost $34,494,178)	40,559,345

CASH EQUIVALENTS -- 0.7%
287,291	Huntington Money Market Fund, Interfund Shares, 4.710% (b) (c)	287,291

	Total Cash Equivalents (Cost $287,291)	287,291

SHORT-TERM SECURITIES HELD AS COLLATERAL FOR SECURITIES LENDING -- 15.2%
	Pool of various securities for The Huntington Funds	6,196,644

	Total Short-Term Securities Held as Collateral for Securities Lending (Cost $6,196,644)	6,196,644

Total Investments (Cost $40,978,113) -- 115.5%		47,043,280

Liabilities in Excess of Other Assets -- (15.5)%		(6,336,194)
Net Assets -- 100.0%		$ 40,707,086

Huntington VA International Equity Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2007

Asset Allocation		Percentage of Net Assets

United Kingdom		21.3%
Japan		20.4%
France		11.6%
Netherlands		7.0%
Switzerland		5.1%
Singapore		4.2%
Spain		4.0%
Germany		4.0%
Sweden		2.2%
Netherlands Antilles		2.1%
Italy		1.9%
Mexico		1.8%
Malaysia		1.7%
Finland		1.6%
Ireland		1.5%
Canada		1.3%
Norway		1.2%
India		0.6%
Taiwan		0.6%
Other Assets in Excess of Liabilities		5.9%
TOTAL		100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

Portfolio of Investments (Unaudited)

June 30, 2007

Shares		Value
COMMON STOCKS -- 90.6%
	Canada -- 1.3%
	Energy -- 1.3%
2,470	EnCana Corp.	$ 151,781

	Finland -- 1.6%
	Technology -- 1.6%
6,300	Nokia Corp.	177,093

	France -- 11.6%
	Consumer Discretionary -- 1.9%
5,100	Vivendi	220,239

		220,239

	Consumer Staples -- 2.4%
1,500	Groupe DANONE	121,838
9,280	Groupe DANONE ADR	150,893

		272,731

	Energy -- 2.1%
2,900	Total SA ADR	234,842

		234,842

	Financials -- 2.2%
5,809	AXA ADR	250,019

		250,019

	Industrials -- 2.1%
1,700	Schneider Electric SA	239,564

		239,564

	France -- (continued)
	Utilities -- 0.9%
1,820	Suez SA ADR	$ 104,323

		104,323

		1,321,718

	Germany -- 4.0%
	Technology -- 2.1%
4,550	SAP AG ADR	232,368

		232,368

	Utilities -- 1.9%
3,900	E ON AG ADR	216,996

		216,996

		449,364

	Ireland -- 1.5%
	Financials -- 1.5%
3,135	Allied Irish Banks PLC	172,300

	Italy -- 1.9%
	Industrials -- 1.9%
7,100	Finmeccanica SPA	219,362

	Japan -- 19.8%
	Consumer Discretionary -- 4.4%
5,210	Honda Motor Co., Ltd. ADR	189,071
4,890	Matsushita Electric Industrial Co. ADR	96,871
11,375	Sharp Corp. ADR	215,534

		501,476

COMMON STOCKS -- (continued)
	Japan -- (continued)
	Consumer Staples -- 2.8%
13,800	Ajinomoto Co., Inc.	$ 159,287
3,795	Shiseido Ltd. ADR	80,820
1,400	Uni-Charm Corp.	79,490

		319,597

	Financials -- 2.2%
22,758	Mitsubishi Tokyo Financial Group, Inc.	250,793

		250,793

	Health Care -- 1.5%
3,400	Eisai Co. Ltd.	148,583
450	Eisai Co. Ltd. ADR	19,604

		168,187

	Industrials -- 3.9%
3,000	KOMATSU Ltd.	87,239
1,225	KOMATSU Ltd. ADR	142,046
12,000	Kubota Corp.	97,474
1,285	Secom Ltd. ADR	120,910

		447,669

	Technology -- 3.2%
3,751	Canon, Inc. ADR	219,959
400	Nintendo Co. Ltd.	146,535

		366,494

	Utilities -- 1.8%
6,200	The Tokyo Electric Power Co., Inc.	199,431
		199,431

		2,253,647

	Mexico -- 1.8%
	Materials -- 1.8%
5,463	Cemex SA ADR	201,585

	Netherlands -- 7.0%
	Consumer Discretionary -- 2.5%
6,625	Koninklijke (Royal) Phillips Electronics NV ADR	280,370

		280,370

	Financials -- 2.4%
6,308	ING Groep NV ADR	277,363

		277,363

	Industrials -- 2.1%
5,245	TNT NV ADR	236,025

		236,025

		793,758

	Netherlands Antilles -- 2.1%
	Energy -- 2.1%
2,780	Schlumberger, Ltd.	236,133

	Norway -- 1.2%
	Telecommunications -- 1.2%
6,832	Telenor ASA	134,162

	Singapore -- 4.2%
	Industrials -- 1.9%
26,000	Keppel Corp. Ltd.	$ 212,363

		212,363

	Telecommunications -- 2.3%
12,005	Singapore Telecommunications ADR	266,873

		266,873

		479,236

	Spain -- 4.0%
	Financials -- 2.1%
9,750	Banco Bilbao Vizcaya SA ADR	237,705

		237,705

	Telecommunications -- 1.9%
3,274	Telefonica SA ADR	218,572

		218,572

		456,277

	Sweden -- 2.2%
	Financials -- 2.2%
6,800	Swedbank AB, Class A	247,652

	Switzerland -- 5.1%
	Health Care -- 2.6%
5,290	Novartis AG ADR	296,610

		296,610

	Materials -- 2.5%
7,130	Syngenta AG ADR	277,571

		277,571

		574,181

	United Kingdom -- 21.3%
	Consumer Discretionary -- 2.0%
13,750	Pearson PLC ADR	231,550

		231,550

	Consumer Staples -- 4.6%
4,518	Cadbury Schweppes PLC ADR	245,327
11,074	Tesco PLC ADR	278,950

		524,277

	Energy -- 2.4%
3,350	BG Group PLC ADR	273,996

		273,996

	Financials -- 3.0%
2,647	Barclays PLC ADR	147,676
5,900	Standard Chartered PLC	193,101

		340,777

	Health Care -- 2.2%
4,645	GlaxoSmithKline PLC ADR	243,259

		243,259

	Industrials -- 2.6%
27,600	Rolls-Royce Group PLC	298,428

		298,428

COMMON STOCKS -- (continued)
	United Kingdom -- (continued)
	Materials -- 2.3%
865	Rio Tinto PLC ADR	$ 264,794

		264,794

	Utilities -- 2.2%
8,525	Scottish & Southern Energy ADR	247,838

		247,838

		2,424,919

	Total Common Stocks (Cost $8,664,226)	10,293,168

MUTUAL FUNDS -- 3.5%
	India -- 0.6%
	Management Investment Operation -- 0.6%
1,513	Morgan Stanley India Fund	68,070

	Japan -- 0.6%
	Management Investment Operation -- 0.6%
4,500	iShares MSCI Japan Index Fund	68,385

	Malaysia -- 1.7%
	Management Investment Operation -- 1.7%
16,600	iShares MSCI Malaysia Index Fund	196,378

	Taiwan -- 0.6%
	Management Investment Operation -- 0.6%
4,000	iShares MSCI Taiwan Index Fund	63,840

	Total Mutual Funds (Cost $320,012)	393,673

Total Investments (Cost $8,984,238) -- 94.1%		10,686,841
Other Assets in Excess of Liabilities -- 5.9%		669,030

Net Assets -- 100.0%		$ 11,355,871

Huntington VA Macro 100 Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2007

Asset Allocation		Percentage of Net Assets

Technology		47.3%
Financials		15.4%
Consumer Discretionary		14.7%
Telecommunications		7.5%
Industrials		5.0%
Consumer Staples		4.8%
Cash¹		2.3%
Materials		1.5%
Health Care		0.8%
Utilities		0.6%
Other Assets in Excess of Liabilities		0.1%
TOTAL		100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Investments in an affiliated money market fund.

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)

June 30, 2007

Shares		Value
COMMON STOCKS -- 97.6%
	Consumer Discretionary -- 14.7%
1,400	Amazon.Com, Inc.*	$ 95,774
3,200	CBS Corp., Class B	106,624
600	Family Dollar Stores, Inc.	20,592
2,200	Gap, Inc.	42,020
800	Genuine Parts Co.	39,680
400	Harman International Industries, Inc.	46,720
8,600	Home Depot, Inc.	338,410
1,000	IAC/InterActiveCorp*	34,610
1,400	Kohl’s Corp.*	99,442
6,400	Lowe’s Cos., Inc.	196,416
400	MGIC Investment Corp.	22,744
690	RadioShack Corp	22,867
2,100	The Interpublic Group of Cos., Inc.*	23,940
800	Tribune Co.	23,520
10,500	Wal-Mart Stores, Inc.	505,155

		1,618,514

	Consumer Staples -- 4.8%
1,200	Coca-Cola Enterprises, Inc.	28,800
3,100	Sara Lee Corp.	53,940
8,500	The Coca-Cola Co.	444,635

		527,375

	Financials -- 15.4%
1,100	Ameriprise Financial, Inc.	69,927
1,800	Capital One Financial Corp.	141,192
700	Comerica, Inc.	41,629
4,200	Fannie Mae	274,386
2,900	Federal Home Loan Mortgage Corp.	176,030
2,500	Fifth Third Bancorp	99,425
500	First Horizon National Corp.	19,500
	Financials -- (continued)
1,700	Goldman Sachs Group, Inc.	$ 368,475
4,500	Morgan Stanley	377,460
1,500	Sovereign Bancorp	31,710
4,300	The Charles Schwab Corp.	88,236

		1,687,970

	Health Care -- 0.8%
5,000	Boston Scientific Corp.*	76,700
2,000	Tenet Healthcare Corp.*	13,020

		89,720

	Industrials -- 5.0%
1,900	Avon Products, Inc.	69,825
1,900	Carnival Corp.	92,663
8,100	Ford Motor Co.	76,302
2,500	General Motors Corp.	94,500
1,900	International Paper Co.	74,195
2,300	Marsh & McLennan Cos., Inc.	71,024
690	New York Times Co., Class A	17,526
3,300	Southwest Airlines Co.	49,203

		545,238

	Materials -- 1.5%
5,900	Applied Materials, Inc.	117,233
500	Jones Apparel Group, Inc.	14,125
500	Perkinelmer, Inc.	13,030
400	Waters Corp.*	23,744

		168,132

	Technology -- 47.3%
2,500	Adobe Systems, Inc.*	100,375
2,300	Advanced Micro Devices, Inc.*	32,890
400	Affiliated Computer Services, Inc.*	22,688
COMMON STOCKS -- (continued)
	Technology -- (continued)
1,600	Altera Corp.	$ 35,408
1,500	Analog Devices, Inc.	56,460
1,000	Autodesk, Inc.*	47,080
1,000	BMC Software, Inc.*	30,300
1,800	CA, Inc.	46,494
500	Ciena Corp.*	18,065
18,600	Cisco Systems, Inc.*	518,010
1,500	Compuware Corp.*	17,790
9,700	Dell, Inc.*	276,935
4,900	Ebay, Inc.*	157,682
8,900	EMC Corp.*	161,090
23,800	Intel Corp.	565,488
5,100	International Business Machines Corp.	536,775
1,500	Intuit, Inc.*	45,120
800	Jabil Circuit, Inc.	17,656
986	Kla-Tencor Corp.	54,181
500	Lexmark International Group, Inc.*	24,655
1,378	Linear Technology Corp.	49,856
3,400	LSI Logic Corp.*	25,534
1,476	Maxim Integrated Products, Inc.	49,313
3,300	Micron Technology, Inc.*	41,349
17,200	Microsoft Corp.	506,884
590	Molex, Inc.	17,706
10,100	Motorola, Inc.	178,770
1,500	Novell, Inc.*	11,685
590	Novellus Systems*	16,738
1,500	NVIDIA Corp.*	61,965
17,000	Oracle Corp.*	335,070
1,000	PMC-Sierra, Inc.*	7,730
788	QLogic Corp.*	13,120
7,100	Qualcomm, Inc.	308,069
2,300	Sanmina Corp.*	7,199
3,900	Solectron Corp.*	14,352
15,200	Sun Microsystems, Inc.*	79,952
4,000	Symantec Corp.*	80,800
300	Tektronix, Inc.	10,122
	Technology -- (continued)
1,800	Tellabs, Inc.*	$ 19,368
886	Teradyne, Inc.*	15,576
6,100	Texas Instruments, Inc.	229,543
1,600	Unisys Corp.*	14,624
1,100	Verisign, Inc.*	34,903
2,900	Viacom, Inc., CLASS B*	120,727
1,500	Xilinx, Inc.	40,155
5,200	Yahoo!, Inc.*	141,076

		5,197,328

	Telecommunications -- 7.5%
600	ADC Telecommunications, Inc.*	10,998
2,000	Avaya, Inc.*	33,680
2,200	Clear Channel Communications, Inc.	83,204
13,200	Comcast Corp., CLASS A*	371,184
1,000	JDS Uniphase Corp.*	13,430
2,500	Juniper Networks, Inc.*	62,925
12,300	Sprint Corp.	254,733

		830,154

	Utilities -- 0.6%
700	DTE Energy Co.	33,754
1,700	Dynegy, Inc.*	16,048
884	TECO Energy, Inc.	15,187

		64,989

	Total Common Stocks (Cost $10,352,755)	10,729,420

CASH EQUIVALENTS -- 2.3%
258,296	Huntington Money Market Fund, Interfund Shares, 4.710%, (b) (c)	258,296

	Total Cash Equivalents (Cost $258,296)	258,296

Total Investments (Cost $10,611,051) -- 99.9%		10,987,716
Other Assets in Excess of Liabilities -- 0.1%		9,742

Net Assets -- 100.0%		$ 10,997,458

Huntington VA Mid Corp America Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2007

Asset Allocation		Percentage of Net Assets

Other Investments (Collateral for Securities Lending)		16.2%
Industrials		16.0%
Technology		11.8%
Energy		11.7%
Health Care		11.0%
Cash¹		10.6%
Financials		10.2%
Consumer Discretionary		8.6%
Materials		7.9%
Utilities		4.6%
Exchange Traded Funds		3.8%
Consumer Staples		2.6%
Telecommunications		0.8%
Real Estate Investment Trusts		0.0%²
Liabilities in Excess of Other Assets		(15.8)%
TOTAL		100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Investments in an affiliated money market fund.

² Rounds to less than 0.05%.

Portfolio of Investments (Unaudited)

June 30, 2007

Shares			Value
COMMON STOCKS -- 85.2%
		Consumer Discretionary -- 8.6%
3,600		Abercrombie & Fitch Co., Class A	$ 262,728
4,350		AnnTaylor Stores Corp.*	154,077
4,200		Beazer Homes USA, Inc. (a)	103,614
1,900		BorgWarner, Inc.	163,476
1,400		Boyd Gaming Corp.	68,866
2,000		Brunswick Corp. (a)	65,260
2,600		Cummins Engine, Inc.	263,146
4,000		D. R. Horton, Inc.	79,720
3,810		Fidelity National Title Group, Inc., Class A (a)	90,297
2,000		Hanover Insurance Group, Inc.	97,580
400		Hilton Hotels Corp.	13,388
4,200		Liz Claiborne, Inc. (a)	156,660
5,558		Nordstrom, Inc.	284,125
700		Polo Ralph Lauren Corp.	68,677
3,344		Pulte Homes, Inc.	75,073
3,000		Republic Services, Inc., Class A	91,920
4,482		Royal Caribbean Cruises Ltd.	192,636
3,300		Sonic Automotives, Inc.	95,601
900		Starwood Hotels & Resorts Worldwide, Inc.	60,363
1,493		The Stanley Works	90,625
1,400		UniFirst Corp.	61,670
		Consumer Discretionary -- (continued)
1,030		Whirlpool Corp.	$ 114,536
1,000		Wolverine World Wide, Inc.	27,710
3,400		Zales Corp.*	80,954

			2,762,702

		Consumer Staples -- 2.6%
3,730		Church & Dwight Co., Inc.	180,756
2,600		Constellation Brands, Inc.* (a)	63,128
1,660		Molson Coors Brewing Co., Class B	153,483
3,300		NBTY, Inc.*	142,560
2,911		Ralcorp Holding, Inc.*	155,593
2,200		Smithfield Foods, Inc.*	67,738
1,934		Supervalu, Inc.	89,583

			852,841

		Energy -- 11.7%
4,156		Apache Corp.	339,088
900		Baker Hughes, Inc. (a)	75,717
2,300		BJ Services Co.	65,412
13,058		Chesapeake Energy Corp.	451,807
7,014		Devon Energy Corp.	549,126
1,400		Forest Oil Corp.* (a)	59,164
4,400		Helmerich & Payne, Inc.	155,848
1,133		Mariner Energy, Inc.*	27,475
2,400		Murphy Oil Corp.	142,656
4,400		National Fuel Gas Co. (a)	190,564
10,084		Noble Energy, Inc.	629,141
COMMON STOCKS -- (continued)
		Energy -- (continued)
200		Patterson-Uti Energy, Inc. (a)	$ 5,242
1,300		Smith International, Inc.	76,232
11,700		Spectra Energy Corp	303,732
1,900		Suncor Energy, Inc. ADR	170,848
100		Sunoco, Inc.	7,968
1,743		Unit Corp.*	109,652
7,214		Weatherford International, Inc.*	398,502
200		XTO Energy, Inc.	12,020

			3,770,194

		Financials -- 10.2%
4,350		Allied Capital Corp. (a)	134,676
2,100		AMBAC Financial Group, Inc.	183,099
1,400		Amcore Financial, Inc.	40,586
3,084		AmeriCredit Corp.* (a)	81,880
2,500		BancorpSouth, Inc.	61,150
1,937		Bear Stearns Companies, Inc. (a)	271,180
2,266		BOK Financial Corp.	121,050
600		CIT Group, Inc.	32,898
4,259		City National Corp.	324,067
2,900		First American Financial Corp.	143,550
4,832		First Horizon National Corp. (a)	188,448
2,000		FirstMerit Corp. (a)	41,860
1,121		Fulton Financial Corp.	16,165
800		Genworth Financial, Inc.	27,520
2,767		Legg Mason, Inc.	272,217
1,700		M&T Bank Corp. (a)	181,730
4,140		MoneyGram International, Inc.	115,713
2,630		Nationwide Financial Services, Inc.	166,269
7,436		Old Republic International Corp.	158,089
4,723		Protective Life Corp.	225,807
800		T. Rowe Price Group, Inc. (a)	41,512
2,964		TCF Financial Corp.	82,399
4,127		Torchmark Corp.	276,509
2,500		Wilmington Trust Corp.	103,775

			3,292,149

		Health Care -- 11.0%
7,700		AmerisourceBergen Corp.	380,919
3,885		Barr Laboratories, Inc.*	195,144
1,186		Cephalon, Inc.* (a)	95,343
5,900		Coventry Health Care, Inc.*	340,135
800		Dentsply International, Inc.	30,608
4,278		Invitrogen Corp.*	315,502
3,533		Lincare Holdings, Inc.*	140,790
13,900		Mylan Laboratories, Inc.	252,841
7,000		Omnicare, Inc. (a)	252,420
2,620		Owens & Minor, Inc. (a)	91,543
9,000		Pediatrix Medical Group, Inc.*	496,350
8,400		Respironics, Inc.*	357,756
11,713		Thermo Fisher Scientific, Inc.*	605,796

			3,555,147

		Industrials -- 16.0%
1,675		Alliant Techsystems, Inc.*	$ 166,076
1,400		Chaparral Steel Co.	100,618
7,312		Cooper Industries Ltd., Class A	417,442
4,800		Eastman Chemical Co.	308,784
4,100		Elbit Systems Ltd.	175,234
1,300		G&K Services, Inc., Class A	51,363
4,200		Griffon Corp.*	91,476
3,238		Insituform Technologies, Inc., Class A*	70,621
4,019		Kennametal, Inc.	329,679
5,959		L-3 Communications Corp. (a)	580,347
3,100		Mohawk Industries, Inc.* (a)	312,449
2,600		Oshkosh Truck Corp.	163,592
4,379		Pall Corp.	201,390
2,336		Parker Hannifin Corp.	228,718
5,000		Precision Castparts Corp.	606,800
1,000		R.R. Donnelley & Sons Co.	43,510
300		Rockwell International Corp. (a)	20,832
3,400		Ryder System, Inc.	182,920
2,800		Stericycle, Inc.* (a)	124,488
3,421		Teleflex, Inc.	279,769
1,600		Textron, Inc.	176,176
3,400		Thomas & Betts Corp.* (a)	197,200
8,800		Wyndham Worldwide Corp.*	319,088

			5,148,572

		Materials -- 7.9%
6,600		Albemarle Corp.	254,298
8,600		AptarGroup, Inc.	305,816
600		Ball Corp. (a)	31,902
3,000		Bemis Co.	99,540
2,000		Cymer, Inc.*	80,400
5,000		Cytec Industries, Inc.	318,850
3,093		Eagle Materials, Inc. (a)	151,712
5,000		FMC Corp.	446,950
1,960		Lubrizol Corp.	126,518
1,100		Minerals Technologies, Inc.	73,645
2,300		Pactiv Corp.*	73,347
3,600		Quanex Corp.	175,320
800		Schnitzer Steel Industries, Inc.	38,352
700		Texas Industries, Inc.	54,887
1,400		The Scotts Co.	60,116
8,000		Trimble Navigation Ltd.*	257,600

			2,549,253

	Real Estate Investment Trusts -- 0.0%
550		Host Hotels & Resorts, Inc.	12,716

			12,716

		Technology -- 11.8%
18,354		Activision, Inc.*	342,669
1,900		Amdocs, Ltd.*	75,658
7,000		Arris Group, Inc.* (a)	123,130
2,600		Avocent Corp.*	75,426
1,425		Benchmark Electronics, Inc.*	32,234
Shares			Value
COMMON STOCKS -- (continued)
		Technology -- (continued)
2,600		Cognos, Inc.* (a)	$ 103,142
1,540		Coherent, Inc.*	46,985
1,900		Electronic Arts, Inc.*	89,908
1,675		Fidelity National Information Services, Inc.	90,919
600		Fiserv, Inc.*	34,080
976		FLIR Systems, Inc.* (a)	45,140
5,410		Forrester Research, Inc.*	152,183
400		Genzyme Corp.*	25,760
5,100		Harris Corp. (a)	278,205
3,778		Imation Corp.	139,257
6,400		Integrated Device Technology, Inc.*	97,728
2,792		International Rectifier Corp.*	104,030
2,500		Intersil Corp., Class A	78,650
1,400		Intuit, Inc.*	42,112
2,600		Jabil Circuit, Inc.	57,382
3,200		JDA Software Group, Inc.*	62,816
2,000		Kla-Tencor Corp.	109,900
4,000		LAM Research Corp.* (a)	205,600
2,000		MEMC Electronic Materials, Inc.*	122,240
600		Microchip Technology, Inc.	22,224
4,000		Micron Technology, Inc.* (a)	50,120
1,600		Molex, Inc.	48,016
4,948		NCR Corp.*	259,968
1,200		NVIDIA Corp.*	49,572
15,000		ON Semiconductor Corp.*	160,800
2,140		Progress Software Corp.*	68,031
5,800		Sandisk Corp.* (a)	283,852
3,800		Sybase, Inc.*	90,782
1,700		Symmetricom, Inc.*	14,280
1,050		THQ, Inc.*	32,046
4,763		Varian Semiconductor Equipment Associates, Inc.*	190,786

			3,805,631

		Telecommunications -- 0.8%
1,407		CenturyTel, Inc.	69,013
14,000		Sycamore Networks, Inc.*	56,280
2,000		Telus Corp.	117,840

			243,133

Shares			Value

		Utilities -- 4.6%
2,200		AGL Resources, Inc.	$ 89,056
1,796		Allete, Inc.	84,502
2,300		Atmos Energy Corp.	69,138
1,700		Constellation Energy Group	148,189
3,691		Energy East Corp.	96,298
700		KeySpan Corp.	29,386
9,481		MDU Resources Group, Inc.	265,847
1,200		New Jersey Resources Corp.	61,224
12,128		Questar Corp.	640,965

			1,484,605

		Total Common Stocks (Cost $17,831,395)	27,476,943

MUTUAL FUNDS -- 3.8%
		Exchange Traded Funds -- 3.8%
7,200		iShares S&P Midcap 400	641,736
3,652		MidCap SPDR Trust Series 1 Index Fund (a)	594,582

		Total Mutual Funds (Cost $688,325)	1,236,318

CASH EQUIVALENTS -- 10.6%
3,421,710		Huntington Money Market Fund, Interfund Shares, 4.710% (b) (c)	3,421,710

		Total Cash Equivalents (Cost $3,421,710)	3,421,710

SHORT-TERM SECURITIES HELD AS COLLATERAL FOR SECURITIES LENDING -- 16.2%
		Pool of various securities for The Huntington Funds	5,212,417

		Total Short-Term Securities Held as Collateral for Securities Lending (Cost $5,212,417)	5,212,417

Total Investments (Cost $27,153,847) -- 115.8%			37,347,388
Liabilities in Excess of Other Assets -- (15.8)%			(5,101,754)

Net Assets -- 100.0%			$ 32,245,634

Huntington VA New Economy Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2007

Asset Allocation		Percentage of Net Assets

Technology		14.4%
Other Investments (Collateral for Securities Lending)		13.2%
Financials		11.6%
Industrials		11.0%
Consumer Staples		10.7%
Consumer Discretionary		10.5%
Health Care		9.8%
Cash¹		7.9%
Materials		5.8%
Energy		5.3%
Telecommunications		4.9%
Utilities		4.0%
Real Estate Investment Trust		3.8%
Liabilities in Excess of Other Assets		(12.9)%
TOTAL		100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Investments in an affiliated money market fund.

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)

June 30, 2007

Shares			Value
COMMON STOCKS -- 91.8%
		Consumer Discretionary -- 10.5%
6,874		American Eagle Outfitters, Inc.	$ 176,387
6,300		Brown Shoe Co., Inc.	153,216
8,120		Carmax, Inc.*	207,060
5,060		Guess ?, Inc. (a)	243,082
2,480		J.C. Penney Co., Inc.	179,502
4,220		Officemax, Inc.	165,846
3,830		Priceline.com, Inc.* (a)	263,274
800		Sears Holdings Corp.*	135,600
6,420		Skechers USA, Inc.*	187,464
9,150		Volvo AB	181,994
516		YUM! Brands, Inc.	16,884

			1,910,309

		Consumer Staples -- 10.7%
5,135		Church & Dwight Co., Inc.	248,842
13,206		CVS Corp.	481,359
5,080		NBTY, Inc.*	219,456
4,280		Ralcorp Holding, Inc.*	228,766
4,630		Reynolds American, Inc.	301,876
45		Seaboard Corp.	105,525
10,800		Spartan Stores, Inc.	355,428

			1,941,252

		Energy -- 5.3%
2,030		Chevron Texaco Corp.	171,007
782		ConocoPhillips	61,387
1,980		Energy Transfer Partners LP	122,226
1,900		Holly Corp.	140,961
		Energy -- (continued)
1,400		Marathon Oil Corp.	$ 83,944
2,390		Plains All American Pipeline LP	152,124
5,036		The Williams Companies, Inc.	159,238
1,004		XTO Energy, Inc.	60,340

			951,227

		Financials -- 11.6%
3,372		Assurant, Inc. (a)	198,678
53		Berkshire Hathaway, Inc.*	191,065
1,630		Brookfield Asset Management, Inc. (a)	65,037
4,515		Cash America International, Inc.	179,020
5,240		CB Richard Ellis Group, Inc.*	191,260
4,119		Credicorp Ltd.	251,959
3,345		First Marblehead Corp. (a)	129,232
1,656		Franklin Resources, Inc.	219,370
4,015		Philadelphia Consolidated Holdings Corp.*	167,827
1,100		Shinhan Financial Group Co., Ltd. ADR	134,739
7,313		Sovereign Bancorp (a)	154,597
4,795		Willis Group Holdings Ltd.	211,268

			2,094,052

		Health Care -- 9.8%
3,410		Aetna, Inc.	168,454
372		Becton, Dickinson & Co.	27,714
10,250		Hlth Corp.*	143,602
2,150		Humana, Inc.*	130,956
3,600		inVentiv Health, Inc.*	131,796
Shares			Value
COMMON STOCKS -- (continued)
		Health Care -- (continued)
2,360		Laboratory Corporation of America Holdings*	$ 184,694
5,410		Merck & Co., Inc.	269,418
1,048		Pediatrix Medical Group, Inc.*	57,797
3,361		Thermo Fisher Scientific, Inc.*	173,831
1,910		Wellcare Group, Inc.*	172,874
1,920		Wellpoint, Inc.*	153,274
1,890		Zimmer Holdings, Inc.*	160,442

			1,774,852

		Industrials -- 11.0%
1,980		Ameron International Corp.	178,576
3,200		Belden CDT, Inc.	177,120
1,400		Canadian Pacific Railway Ltd.	96,348
4,100		General Cable Corp.* (a)	310,575
700		Genlyte Group, Inc.*	54,978
190		L-3 Communications Corp. (a)	18,504
2,600		Laidlaw International, Inc.	89,830
1,300		Loews Corp - Carolina Group	100,451
2,800		Manitowoc Co.	225,064
2,158		PACCAR, Inc.	187,832
1,400		Precision Castparts Corp.	169,904
2,960		Terex Corp.*	240,648
2,960		Watson Wyatt Worldwide, Inc.	149,421

			1,999,251

		Materials -- 5.8%
670		Freeport-McMoran Copper & Gold, Inc.	55,489
4,730		Methanex Corp.	118,912
2,090		Nucor Corp.	122,579
4,200		RPM International, Inc.	97,062
1,500		RTI International Metals, Inc.*	113,055
2,000		Silgan Holdings, Inc.	110,560
1,400		Southern Copper Corp. (a)	131,964
2,710		Syngenta AG ADR	105,500
1,790		United States Steel Corp.	194,663

			1,049,784

	Real Estate Investment Trusts -- 3.8%
3,100		American Real Estate Partners LP (a)	315,394
1,200		CBL & Associates Properties, Inc.	43,260
4,988		Digital Reality Trust, Inc.	187,948
5,142		Host Hotels & Resorts, Inc.	118,883
492		Ventas, Inc. (a)	17,835

			683,320

		Technology -- 14.4%
4,385		Accenture Ltd.	188,073
3,070		Anixter International, Inc.*	230,895
1,060		Apple Computer, Inc.*	129,362
9,000		Arris Group, Inc.* (a)	158,310
9,110		ASE Test Ltd.*	128,178
3,240		BMC Software, Inc.*	98,172
6,000		Cisco Systems, Inc.*	167,100
Shares			Value

		Technology -- (continued)
180		Fidelity National Information Services, Inc.	$ 9,770
3,810		Hewlett Packard Co.	170,002
4,800		InterDigital Communications Corp.*	154,416
5,180		McAfee, Inc.*	182,336
11,750		Mentor Graphics Corp.*	154,747
1,800		Mettler Toledo International, Inc.*	171,918
1,225		NCR Corp.*	64,362
5,600		NVIDIA Corp.*	231,336
4,855		Polycom, Inc.* (a)	163,128
4,965		Varian Semiconductor Equipment Associates, Inc.*	198,898

			2,601,003

		Telecommunications -- 4.9%
1,870		America Movil SA de CV ADR, Series L	115,809
3,306		American Tower Corp., Class A*	138,852
3,090		AT&T, Inc. (a)	128,235
9,660		Qwest Communications International, Inc.* (a)	93,702
4,700		SBA Communications Corp.*	157,873
4,700		Telefonos de Mexico ADR	178,083
3,760		Time Warner Telecom, Inc., Class A*	75,576

			888,130

		Utilities -- 4.0%
6,350		AES Corp.*	138,938
2,715		Allegheny Energy, Inc.*	140,474
2,075		FirstEnergy Corp.	134,315
3,790		NRG Energy, Inc.*	157,550
3,165		ONEOK, Inc.	159,548

			730,825

		Total Common Stocks (Cost $12,679,394)	16,624,005

CASH EQUIVALENTS -- 7.9%
1,426,693		Huntington Money Market Fund, Interfund Shares, 4.710% (b) (c)	1,426,693

		Total Cash Equivalents (Cost $1,426,693)	1,426,693

SHORT-TERM SECURITIES HELD AS COLLATERAL FOR SECURITIES LENDING -- 13.2%
		Pool of various securities for The Huntington Funds	2,383,472

		Total Short-Term Securities Held as Collateral for Securities Lending (Cost $2,383,472)	2,383,472

Total Investments (Cost $16,489,559) -- 112.9%			20,434,170
Liabilities in Excess of Other Assets -- (12.9)%			(2,333,161)

Net Assets -- 100.0%			$ 18,101,009

Huntington VA Rotating Markets Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2007

Asset Allocation		Percentage of Net Assets

United States of America		39.5%
Europe		31.2%
Emerging Markets		16.5%
Asia		6.8%
Canada		3.2%
Cash¹		2.5%
Other Assets in Excess of Liabilities		0.3%
TOTAL		100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2007

Shares		Value
MUTUAL FUNDS -- 97.2%
	Exchange Traded Funds -- 97.2%
604	DIAMONDS Trust Series I	$ 81,027
1,394	iShares Dow Jones Select Dividend Index Fund	100,187
6,400	iShares Dow Jones U.S. Telecommunications Sector Index Fund	215,744
16,541	iShares EAFE Index Fund	1,333,701
6,800	iShares MSCI Belgium Index Fund	187,952
2,855	iShares MSCI Brazil Index Fund	174,755
10,892	iShares MSCI Canada Index Fund	325,235
3,779	iShares MSCI Emerging Markets Index Fund	496,447
10,225	iShares MSCI EMU Index Fund	1,203,891
11,900	iShares MSCI Germany Index Fund	393,890
14,390	iShares MSCI Hong Kong Index Fund	246,069
2,650	iShares MSCI Italy Index Fund	92,538
2,500	iShares MSCI Mexico Index Fund	154,400
1,175	iShares MSCI Pacific ex-Japan Index Fund	172,020
7,246	iShares MSCI South Korea Index Fund	435,774
13,193	iShares Russell 1000 Index Fund	1,077,208
3,551	iShares Russell 3000 Value Index Fund	400,198
4,480	iShares Russell Midcap Value Index Fund	705,421
2,400	iShares S&P Europe 350 Index Fund	280,752
2,100	iShares S&P Global 100 Index Fund	168,672
2,486	iShares S&P Small Cap 600 Index Fund	176,730
5,519	MidCap SPDR Trust Series 1 Index Fund	898,548
11,400	Rydex S&P Equal Weight Index Fund	583,224
546	S&P Depositary Receipt	82,064

	Total Mutual Funds (Cost $7,495,747)	9,986,447

CASH EQUIVALENTS -- 2.5%
261,647	Huntington Money Market Fund, Interfund Shares, 4.710%, (b) (c)	$ 261,647

	Total Cash Equivalents (Cost $261,647)	261,647

Total Investments (Cost $7,757,394) -- 99.7%		10,248,094
Other Assets in Excess of Liabilities -- 0.3%		25,888

Net Assets -- 100.0%		$ 10,273,982

Huntington VA Situs Small Cap Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2007

Asset Allocation		Percentage of Net Assets

Industrials		20.4%
Consumer Discretion		16.0%
Technology		12.3%
Health Care		11.8%
Energy		11.4%
Materials		10.8%
Financials		7.2%
Consumer Staples		2.9%
Cash¹		2.2%
Real Estate Investment Trusts		2.0%
Utilities		2.0%
Telecommunications		0.8%
Other Assets in Excess of Liabilities		0.2%
TOTAL		100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2007

Shares		Value
COMMON STOCKS -- 97.6%
	Finland -- 1.4%
	Industrials -- 1.4%
2,000	Cargotec Corp., Class B	$ 123,611
2,100	Kone OYJ, Class B	132,890

		256,501

	Germany -- 1.2%
	Consumer Staples -- 0.5%
1,500	Douglas Holding AG	97,986

		97,986

	Health Care -- 0.7%
1,900	Stada Arzneimittel AG	121,391

		121,391

		219,377

	Hong Kong -- 0.5%
	Consumer Discretionary -- 0.5%
13,000	Television Broadcasts Ltd.	91,445

	Ireland -- 0.5%
	Consumer Staples -- 0.5%
3,500	Kerry Group PLC	98,047

	Japan -- 1.2%
	Industrials -- 0.4%
3,500	Sato Corp.	65,388

		65,388

	Technology -- 0.8%
14,800	Furuno Electric Co. Ltd.	148,950

		148,950

		214,338

	Sweden -- 0.6%
	Consumer Discretionary -- 0.6%
4,800	Haldex AB	$ 109,873

	United Kingdom -- 0.7%
	Technology -- 0.7%
25,000	Halma PLC	120,851

	United States -- 91.5%
	Consumer Discretionary -- 14.9%
4,500	AnnTaylor Stores Corp.*	159,390
5,000	Audiovox Corp., Class A*	64,850
10,000	Brunswick Corp.	326,300
6,000	Cabela’s Inc., Class A*	132,780
1,300	Columbia Sportswear Co.	89,284
3,000	Ennis, Inc.	70,560
2,000	Fossil, Inc.*	58,980
5,000	Gander Mountain Co.*	56,750
5,000	Garmin Ltd.	369,850
2,000	Hilb, Rogal & Hobbs Co.	85,720
1,000	Home Depot, Inc.	39,350
2,000	Jakks Pacific, Inc.*	56,280
4,000	Movado Group, Inc.	134,960
1,500	Polo Ralph Lauren Corp.	147,165
2,000	RENT-A-CENTER, Inc.*	52,460
11,000	ScanSource, Inc.*	351,890
3,000	Skechers USA, Inc.*	87,600
5,000	Speedway Motorsports, Inc.	199,900
800	Toll Brothers, Inc.*	19,984
8,500	Urban Outfitters, Inc.*	204,255
350	West Marine, Inc.*	4,816

		2,713,124

COMMON STOCKS -- (continued)
	United States -- (continued)
	Consumer Staples -- 1.9%
7,100	Fresh Del Monte Produce, Inc.	$ 177,855
5,200	Performance Food Group Co.*	168,948

		346,803

	Energy -- 11.4%
1,000	Alliance Resource Partners	41,900
1,000	Atwood Oceanics, Inc.*	68,620
4,550	CARBO Ceramics, Inc.	199,335
13,000	Denbury Resources, Inc.*	487,500
3,500	Dril-Quip, Inc.*	157,325
10,000	Headwaters, Inc.*	172,700
1,744	Helix Energy Solutions Group, Inc.*	69,603
59	Hugoton Royalty Trust	1,489
2,000	National-Oilwell Varco, Inc.*	208,480
4,000	Newfield Exploration Co.*	182,200
2,500	Oceaneering International, Inc.*	131,600
6,000	Pacific Ethanol, Inc.*	79,200
1,000	Saint Mary Land & Exploration Co.	36,620
3,000	TETRA Technologies, Inc.*	84,600
2,500	XTO Energy, Inc.	150,250

		2,071,422

	Financials -- 7.2%
4,250	Arch Capital Group Ltd.*	308,295
5,000	Bank of Florida Corp.*	86,900
3,000	BB&T Corp.	122,040
10,200	Colonial Bancgroup, Inc.	254,694
6,500	Cullen/Frost Bankers, Inc.	347,555
2,000	Philadelphia Consolidated Holdings Corp.*	83,600
1,500	WSFS Financial Corp.	98,145

		1,301,229

	Health Care -- 11.1%
2,000	Advanced Medical Optics, Inc.*	69,760
8,000	Albany Molecular Research*	118,800
5,650	Bio-Rad Laboratories, Inc., Class A*	426,970
8,000	Cerner Corp.*	443,760
6,500	Edwards LifeSciences Corp.*	320,710
2,000	Kindred Healthcare, Inc.*	61,440
1,000	Kinetic Concepts, Inc.*	51,970
1,000	Lincare Holdings, Inc.*	39,850
10,000	Mentor Corp.	406,800
100	Par Pharmaceutical, Inc.*	2,823
2,000	Viropharma, Inc.*	27,600
500	Wellcare Group, Inc.*	45,255

		2,015,738

	Industrials -- 18.6%
3,500	Alliant Techsystems, Inc.*	347,025
6,000	Armor Holdings, Inc.*	521,220
1,000	Be Aerospace, Inc.*	41,300
2,000	Exlservice Holdings, Inc.*	37,480
13,500	Jacobs Engineering Group, Inc.*	776,385
6,500	Overseas Shipholding Group, Inc.	529,100
	United States -- (continued)
	Industrials -- (continued)
5,000	Precision Castparts Corp.	$ 606,800
500	Ryder System, Inc.	26,900
3,000	Tidewater, Inc.	212,640
2,000	Timken Co.	72,220
5,000	Universal Forest Products, Inc.	211,300

		3,382,370

	Materials -- 10.8%
5,000	Albemarle Corp.	192,650
8,000	Ceradyne, Inc.*	591,680
3,000	Commercial Metals Co.	101,310
1,000	Deckers Outdoor Corp.*	100,900
500	Eagle Materials, Inc.	24,525
50	Florida Rock Industries	3,375
2,000	Quanex Corp.	97,400
2,000	RTI International Metals, Inc.*	150,740
1,500	Texas Industries, Inc.	117,615
4,400	The Scotts Co.	188,936
12,000	Trimble Navigation Ltd.*	386,400

		1,955,531

	Real Estate Investment Trusts -- 2.0%
1,500	Camden Property Trust	100,455
1,000	CBL & Associates Properties, Inc.	36,050
3,000	Colonial Properties Trust	109,350
4,500	Equity One, Inc.	114,975
1,000	HRPT Properties Trust	10,400

		371,230

	Technology -- 10.8%
500	Anixter International, Inc.*	37,605
4,000	Black Box Corp.	165,520
2,000	Brocade Communications Systems, Inc.*	15,640
1,000	Compuware Corp.*	11,860
3,000	Hutchinson Technology, Inc.*	56,430
6,000	Imation Corp.	221,160
10,000	Methode Electronics, Inc.	156,500
1,000	Netgear, Inc.*	36,250
19,000	Red Hat, Inc.*	423,320
15,000	Standard Microsystems Corp.*	515,100
1,000	StarTek, Inc.	10,790
9,000	Transaction Systems Architects, Inc.*	302,940

		1,953,115

	Telecommunications -- 0.8%
1,000	CommScope, Inc.*	58,350
7,300	General Communication, Inc., Class A*	93,513

		151,863

	Utilities -- 2.0%
1,000	AGL Resources, Inc.	40,480
4,000	Hawaiian Electric Industries, Inc.	94,760
8,000	UGI Corp.	218,240

		353,480

		16,615,905

	Total Common Stocks (Cost $15,318,241)	17,726,337

CASH EQUIVALENTS -- 2.2%
399,607	Huntington Money Market Fund, Interfund Shares, 4.710% (b) (c)	$ 399,607

	Total Cash Equivalents (Cost $399,607)	399,607

Total Investments (Cost $15,717,848) -- 99.8%		18,125,944
Other Assets in Excess of Liabilities -- 0.2%		37,787

Net Assets -- 100.0%		$ 18,163,731

Huntington VA Mortgage Securities Fund

Portfolio of Investments Summary Table (Unaudited)

June 30, 2007

Asset Allocation		Percentage of Net Assets

U.S. Government Mortgage Backed Agencies		77.2%
U.S. Government Agencies		9.5%
Cash¹		6.5%
Real Estate Investment Trusts (Includes 7.4% Common Stock and 0.2% Preferred Stock)		7.6%
Collateralized Mortgage Obligations		1.8%
Liabilities in Excess of Other Assets		(2.6)%
TOTAL		100.0%

Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2007, and are based on net assets.

¹ Investments in an affiliated money market fund.

Portfolio of Investments (Unaudited)

June 30, 2007

Principal Amount		Value
U.S. GOVERNMENT MORTGAGE BACKED AGENCIES -- 77.2%
	Federal Home Loan Bank -- 4.0%
$ 70,751	Series 6B-2012, Class A, 5.125%, 4/25/12	$ 70,292
167,099	Series 7I-2012, Class A, 5.000%, 6/15/12	165,044
75,146	Series SK-2015, Class 1, 5.140%, 8/18/15	73,673
52,386	Series Z2-2013, Class A, 4.800%, 2/25/13	52,776

		361,785

	Federal Home Loan Mortgage Corporation -- 34.6%
85,894	Pool # 1G0865, 4.908%, 7/1/35	83,883
197,398	Pool # A55565, 6.000%, 12/1/36	195,753
33,035	Pool # B18052, 4.500%, 3/1/15	32,043
92,300	Pool # C90779, 5.000%, 1/1/24	88,360
30,992	Pool # C90837, 5.500%, 6/1/24	30,290
94,206	Pool # C91000, 6.000%, 11/1/26	94,227
39,711	Pool # E96459, 5.000%, 5/1/18	38,530
280,643	Pool # G08168, 6.000%, 12/1/36	278,260
188,288	Pool # G12286, 5.000%, 7/1/21	182,026
171,446	Pool # G12297, 6.000%, 7/1/21	172,240
34,590	Pool # G18008, 4.500%, 9/1/19	32,927
17,785	Pool # G18015, 4.500%, 10/1/19	16,930
86,852	Pool # J03237, 5.500%, 8/1/16	85,890
79,420	Pool # M80982, 5.000%, 7/1/12	78,576
88,420	Pool # M81004, 5.000%, 1/1/13	87,480
34,350	Pool # M90777, 4.500%, 1/1/08	34,149
28,319	Series 1994-23, Class PK, 6.000%, 5/25/10	28,423
243,076	Series 2541, Class VL, 5.500%, 11/15/20	237,639
35,449	Series 2548, Class HA, 4.500%, 1/15/10	35,016
	Federal Home Loan Mortgage Corporation -- (continued)
$ 119,260	Series 2770, Class TC, 4.000%, 1/15/18	$ 113,929
300,000	Series 2802, Class MB, 5.500%, 11/15/31	291,750
61,566	Series 3046, Class YA, 5.000%, 2/15/19	60,416
163,917	Series R005, Class AB, 5.500%, 12/15/18	161,986
154,016	Series R007, Class AC, 5.875%, 5/15/16	153,955
363,443	Series R009, Class AJ, 5.750%, 12/15/18	360,767
285,338	Series R010, Class AB, 5.500%, 12/15/19	281,496

		3,256,941

	Federal National Mortgage Association -- 31.7%
143,119	Pool # 254717, 4.500%, 4/1/13	139,626
29,239	Pool # 254908, 5.000%, 9/1/23	27,924
89,317	Pool # 254914, 4.500%, 9/1/13	87,012
49,672	Pool # 254955, 4.000%, 10/1/10	48,127
31,076	Pool # 255224, 4.000%, 5/1/11	30,020
17,769	Pool # 255360, 5.000%, 8/1/24	16,953
72,486	Pool # 255711, 5.500%, 4/1/25	70,763
72,649	Pool # 255745, 5.500%, 5/1/25	70,922
74,159	Pool # 255767, 5.500%, 6/1/25	72,396
59,752	Pool # 255808, 5.000%, 7/1/25	56,929
298,299	Pool # 256001, 6.000%, 11/1/25	298,118
83,031	Pool # 256116, 6.000%, 2/1/26	82,913
79,827	Pool # 357771, 5.000%, 5/1/25	76,056
31,850	Pool # 721540, 5.000%, 7/1/33	30,007
353,296	Pool # 745418, 5.500%, 4/1/36	341,669
Principal Amount		Value
U.S. GOVERNMENT MORTGAGE BACKED AGENCIES -- (continued)
	Federal National Mortgage Association -- (continued)
$ 150,379	Pool # 746683, 5.500%, 10/1/33	$ 145,725
92,114	Pool # 786457, 5.285%, 7/1/34	91,063
277,441	Pool # 831487, 5.500%, 4/1/36	267,762
66,579	Pool # 845573, 5.627%, 2/1/36	66,933
277,291	Pool # 868935, 5.500%, 5/1/36	267,617
192,845	Pool # 903812, 5.500%, 12/1/36	186,117
95,918	Pool # 907484, 6.000%, 1/1/37	94,906
220,111	Pool #254501, 5.500%, 9/1/22	215,311
88,115	Series 1999-13, Class PH, 6.000%, 4/25/29	87,750
25,589	Series 2003-15, Class P, 5.000%, 12/25/26	25,518
50,000	Series 2672, Class GH, 5.500%, 8/15/31	48,313

		2,946,450

	Government National Mortgage Association -- 6.9%
21,498	Pool # 3571, 6.500%, 6/20/34	21,914
26,828	Pool # 3590, 5.500%, 8/20/19	26,433
16,634	Pool # 3637, 5.500%, 11/20/34	16,151
76,276	Pool # 3708, 5.500%, 5/20/20	75,101
61,183	Pool # 3710, 5.000%, 5/20/35	57,692
83,906	Pool # 3741, 4.500%, 8/20/20	79,699
288,994	Pool # 605653, 5.500%, 8/15/34	281,006
82,540	Pool # 650348, 5.500%, 11/15/35	80,212

		638,208

	Total U.S. Government Mortgage Backed Agencies (Cost $7,326,635)	7,203,384

U.S. GOVERNMENT AGENCIES -- 9.5%
	Federal Home Loan Bank -- 4.2%
200,000	5.125%, 2/2/09	199,762
200,000	5.300%, 4/24/09	199,681

		399,443

	Federal Home Loan Mortgage Corporation -- 3.1%
100,000	4.000%, 4/8/11	95,928
200,000	4.500%, 4/15/26	197,040

		292,968

	Federal National Mortgage Association -- 2.2%
100,000	5.000%, 3/2/15	97,660
100,000	5.600%, 2/8/16	99,388

		197,048

	Total U.S. Government Agencies (Cost $893,994)	889,459

Shares		Value
COMMON STOCKS -- 7.4%
	Real Estate Investment Trusts -- 7.4%
400	Acadia Realty Trust	$ 10,380
400	Alexandria Real Estate Equities, Inc.	38,728
500	AMB Property Corp.	26,610
600	American Campus Communities, Inc.	16,974
100	Archstone-Smith Trust	5,911
200	Avalonbay Communities, Inc.	23,776
300	Boston Properties, Inc.	30,639
600	Brandywine Realty Trust	17,148
400	BRE Properties, Inc., Class A	23,716
200	CBL & Associates Properties, Inc.	7,210
100	Cedar Shopping Centers, Inc.	1,435
300	Corporate Office Properties Trust	12,303
100	Developers Diversified Realty Corp.	5,271
700	Digital Reality Trust, Inc.	26,376
200	Douglas Emmett, Inc.	4,948
300	Duke Realty Corp.	10,701
100	EastGroup Properties, Inc.	4,382
200	Equity Lifestyle Properties, Inc.	10,438
400	Equity Residential Properties Trust	18,252
200	Essex Property Trust, Inc.	23,260
100	Federal Realty Investment Trust	7,726
600	General Growth Properties, Inc.	31,770
500	Health Care Property Investors, Inc.	14,465
200	Home Properties, Inc.	10,386
300	Hospitality Properties Trust	12,447
1,100	Host Hotels & Resorts, Inc.	25,432
400	Kimco Realty Corp.	15,228
300	Mack-Cali Realty Corp.	13,047
800	National Retail Properties, Inc.	17,488
500	Nationwide Health Properties, Inc.	13,600
400	Pennsylvania Real Estate Investment Trust	17,732
500	ProLogis	28,450
300	Public Storage, Inc.	23,046
500	Realty Income Corp.	12,595
100	Regency Centers Corp.	7,050
100	Simon Property Group, Inc.	9,304
120	SL Green Realty Corp.	14,867
300	Sunstone Hotel Investors, Inc.	8,517
500	Tanger Factory Outlet Centers, Inc.	18,725
500	U-STORE-IT Trust	8,195
200	UDR, Inc.	5,260
300	Ventas, Inc.	10,875
300	Vornado Realty Trust	32,952
300	Weingarten Realty Investors	12,330

	Total Common Stocks (Cost $659,572)	689,945

Principal Amount or Shares		Value
COLLATERALIZED MORTGAGE OBLIGATIONS -- 1.8%
$ 171,792	CitiCorp Mortgage Securities, Inc., 5.500%, 10/25/35	$ 168,949

	Total Collateralized Mortgage Obligations (Cost $170,235)	168,949

PREFERRED STOCKS -- 0.2%
	Real Estate Investment Trusts -- 0.2%
300	Simon Property Group, 6.000%	22,797

	Total Preferred Stocks (Cost $21,282)	22,797

CASH EQUIVALENTS -- 6.5%
606,490	Huntington Money Market Fund, Interfund Shares, 4.710% (b) (c)	606,490

	Total Cash Equivalents (Cost $606,490)	606,490

Total Investments (Cost $9,678,208) -- 102.6%		9,581,024
Liabilities in Excess of Other Assets -- (2.6)%		(245,165)

Net Assets -- 100.0%		$ 9,335,859

See Notes to Portfolio of Investments on page 25.

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

Huntington Funds

Notes to Portfolio of Investments

(a) A portion or all of the security was held on loan as of June 30, 2007.

(b) Investment in an affiliate.

* Non-income producing security.

The following abbreviations are used in the Portfolio of Investments:

ADR	--	American Depositary Receipt
AMEX	--	American Stock Exchange
EAFE	--	Europe, Australasia and Far East
EMU	--	European Monetary Union
MSCI	--	Morgan Stanley Capital International
SPA	--	Sales and Purchase Agreement
S&P	--	Standard & Poor’s
SPDR	--	Standard & Poor’s Depositary Receipt

Huntington Funds

Statements of Assets and Liabilities

June 30, 2007 (Unaudited)

	Huntington VA Dividend Capture Fund	Huntington VA Growth Fund	Huntington VA Income Equity Fund	Huntington VA International Equity Fund	Huntington VA Macro 100 Fund

Assets:
Investments, at cost⁽¹⁾	$ 65,242,088	$ 22,198,944	$ 40,978,113	$ 8,984,238	$ 10,611,051

Investments, at value⁽¹⁾	64,697,825	24,815,868	46,755,989	10,686,841	10,729,420
Investments in affiliatied securities, at value	2,013,747	728,694	287,291	--	258,296

Total Investments	66,711,572	25,544,562	47,043,280	10,686,841	10,987,716
Cash	--	--	--	592,041	--
Foreign currencies; at value (Cost $0, $0, $0, $43,011, and $0)	--	--	--	43,152	--
Income receivable	226,419	22,981	67,742	11,871	8,341
Receivable for shares sold	14,951	22,246	--	22,006	7,456
Tax reclaims receivable	--	--	--	61	--
Receivable from adviser	--	--	--	1,388	--
Prepaid expenses and other assets	3,596	2,159	1,137	7,901	3,654

Total assets	66,956,538	25,591,948	47,112,159	11,365,261	11,007,167

Liabilities:
Options written; at value (premium received $0, $0, $173,356, $0 and $0)	--	--	166,213	--	--
Cash overdraft	3,061	--	--	--	--
Payable for investments purchased	499,342	--	--	--	--
Payable for shares redeemed	--	--	9,320	1,697	158
Payable for return of collateral received for securities on loan	9,570,514	2,886,590	6,196,644	--	--
Accrued expenses and other payables
Investment adviser fees	28,016	11,222	20,270	5,451	5,433
Administration fees	6,303	2,525	4,561	1,227	1,222
Custodian fees	1,214	486	878	--	235
Financial administration fees	971	576	955	--	481
Transfer agent fees	4,052	266	1,975	66	120
Trustees’ fees	1,082	479	853	114	202
Compliance service fees	1,343	538	972	261	260
Other	5,227	1,229	2,432	574	1,598

Total liabilities	10,121,125	2,903,911	6,405,073	9,390	9,709

Net Assets	$ 56,835,413	$ 22,688,037	$ 40,707,086	$ 11,355,871	$ 10,997,458

Net Assets Consist of:
Paid in capital	$ 52,303,896	$ 18,326,118	$ 31,609,849	$ 9,348,576	$ 10,030,758
Net unrealized appreciation of investments, options and translations of assets and liabilities in foreign currency	1,469,484	3,345,618	6,072,310	1,702,778	376,665
Accumulated net realized gain on investments, options and foreign currency transactions	1,977,419	955,473	2,633,306	226,206	566,042
Accumulated net investment income	1,084,614	60,828	391,621	78,311	23,993

Total Net Assets	$ 56,835,413	$ 22,688,037	$ 40,707,086	$ 11,355,871	$ 10,997,458

Shares Outstanding	4,453,313	2,247,206	3,152,232	662,381	910,262

Net Asset Value Per Share
(Net asset value, offering and redemption price per share)	$ 12.76	$ 10.10	$ 12.91	$ 17.14	$ 12.08

⁽¹⁾ Includes securities on loan of $9,247,104; $2,810,423; $5,905,583; $0 and $0.

Huntington Funds

Statements of Assets and Liabilities

June 30, 2007 (Unaudited)

	Huntington VA Mid Corp America Fund	Huntington VA New Economy Fund	Huntington VA Rotating Markets Fund	Huntington VA Situs Small Cap Fund	Huntington VA Mortgage Securities Fund

Assets:
Investments, at cost⁽¹⁾	$ 27,153,847	$ 16,489,559	$ 7,757,394	$ 15,717,848	$ 9,678,208

Investments, at value⁽¹⁾	33,925,678	19,007,477	9,986,447	17,726,337	8,974,534
Investments in affiliatied securities, at value	3,421,710	1,426,693	261,647	399,607	606,490

Total Investments	37,347,388	20,434,170	10,248,094	18,125,944	9,581,024
Foreign currencies; at value (Cost $0, $0, $0, $2,512 and $0)	--	--	--	2,536	--
Income receivable	36,064	22,769	15,373	7,538	48,992
Receivable for investments sold	94,693	--	--	--	--
Receivable for shares sold	5,289	40,746	14,713	38,665	7,234
Receivable from adviser	--	--	--	5	1,788
Prepaid expenses and other assets	1,196	2,830	3,721	5,452	3,531

Total assets	37,484,630	20,500,515	10,281,901	18,180,140	9,642,569

Liabilities:
Cash overdraft	20	15	--	1,693	--
Payable for investments purchased	--	--	--	--	298,206
Payable for shares redeemed	--	800	55	829	--
Payable for return of collateral received for securities on loan	5,212,417	2,383,472	--	--	--
Accrued expenses and other payables
Investment adviser fees	15,969	8,857	5,057	8,826	4,534
Administration fees	3,593	1,993	1,138	1,986	1,020
Custodian fees	692	384	219	--	196
Financial administration fees	1,263	1,274	412	--	1,501
Transfer agent fees	513	172	103	163	70
Trustees’ fees	630	330	179	286	115
Compliance service fees	766	425	242	423	217
Other	3,133	1,784	514	2,203	851

Total liabilities	5,238,996	2,399,506	7,919	16,409	306,710

Net Assets	$ 32,245,634	$ 18,101,009	$ 10,273,982	$ 18,163,731	$ 9,335,859

Net Assets Consist of:
Paid in capital	$ 21,527,041	$ 13,365,367	$ 7,438,933	$ 15,081,100	$ 9,251,640
Net unrealized appreciation (depreciation) of investments and translations of assets and liabilities in foreign currency	10,193,541	3,944,611	2,490,700	2,408,120	(97,184)
Accumulated net realized gain on investments and foreign currency transactions	425,574	727,257	344,293	599,077	15,086
Accumulated net investment income	99,478	63,774	56	75,434	166,317

Total Net Assets	$ 32,245,634	$ 18,101,009	$ 10,273,982	$ 18,163,731	$ 9,335,859

Shares Outstanding	1,698,094	943,714	681,681	1,114,210	853,614

Net Asset Value Per Share
(Net asset value, offering and redemption price per share)	$ 18.99	$ 19.18	$ 15.07	$ 16.30	$ 10.94

⁽¹⁾ Includes securities on loan of $5,055,016; $2,338,679; $0; $0 and $0.

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

Huntington Funds

Statements of Operations

Six Months Ended June 30, 2007 (Unaudited)

	Huntington VA Dividend Capture Fund	Huntington VA Growth Fund	Huntington VA Income Equity Fund	Huntington VA International Equity Fund	Huntington VA Macro 100 Fund

Investment Income:
Dividend income	$ 1,260,581	$ 152,586	$ 524,876	$ 130,819	$ 69,469
Dividend income from affiliated securities	30,111	6,632	14,949	--	5,318
Income from securities lending	13,975	2,341	4,407	--	--
Foreign dividend taxes withheld	--	--	--	(4,624)	--

Total investment income	1,304,667	161,559	544,232	126,195	74,787

Expenses:
Investment adviser fees	165,049	64,764	117,661	27,986	31,426
Administration fees	37,136	14,572	26,474	6,297	7,071
Custodian fees	7,152	2,806	5,098	2,853	1,362
Transfer and dividend disbursing agent fees and expenses	6,493	2,711	4,839	939	1,299
Trustees’ fees	1,477	588	1,070	216	276
Auditing fees	3,332	1,280	2,364	586	641
Legal fees	983	394	717	134	182
Financial administration fees	12,076	5,643	9,013	3,527	3,650
Printing and postage	11,052	4,483	8,117	1,510	2,062
Insurance premiums	890	2,687	2,724	3,021	2,491
Compliance service fees	441	170	309	71	82
Other	1,662	808	1,423	172	252

Total expenses	247,743	100,906	179,809	47,312	50,794

Reimbursements:
Reimbursements from adviser	--	--	--	(1,388)	--

Net expenses	247,743	100,906	179,809	45,924	50,794

Net investment income	1,056,924	60,653	364,423	80,271	23,993

Realized and Unrealized Gain (Loss) on Investments, Options, and Foreign Currency Transactions:
Net realized gain on investment transactions	2,032,666	964,216	3,004,968	232,542	585,075
Net realized (loss) on option transactions	--	--	(63,830)	--	--
Net realized (loss) on foreign currency transactions	--	--	--	(1,870)	--

Net realized gain on investments, options and foreign currency transactions	2,032,666	964,216	2,941,138	230,672	585,075
Net change in unrealized appreciation/depreciation of investments, options and translation of assets and liabilities in foreign currency	(2,128,978)	373,392	(395,270)	531,605	20,356

Net realized and unrealized gain (loss) on investments, options and translation of assets and liabilities in foreign currency	(96,312)	1,337,608	2,545,868	762,277	605,431

Change in net assets resulting from operations	$ 960,612	$ 1,398,261	$ 2,910,291	$ 842,548	$ 629,424

Huntington Funds

Statements of Operations

Six Months Ended June 30, 2007 (Unaudited)

	Huntington VA Mid Corp America Fund	Huntington VA New Economy Fund	Huntington VA Rotating Markets Fund	Huntington VA Situs Small Cap Fund	Huntington VA Mortgage Securities Fund

Investment Income:
Dividend income	$ 149,025	$ 107,546	$ 36,255	$ 123,917	$ 7,455
Dividend income from affiliated securities	85,375	24,567	9,028	20,793	15,702
Interest income	--	2,146	--	3,392	184,070
Income from securities lending	6,697	4,432	--	--	--

Total investment income	241,097	138,691	45,283	148,102	207,227

Expenses:
Investment adviser fees	91,482	49,240	27,894	47,990	24,403
Administration fees	20,584	11,079	6,276	10,798	5,491
Custodian fees	3,964	2,134	1,209	31	1,057
Transfer and dividend disbursing agent fees and expenses	3,728	1,918	1,194	1,803	924
Trustees’ fees	831	435	247	409	200
Auditing fees	1,857	1,008	564	1,024	505
Legal fees	556	285	165	264	133
Financial administration fees	8,491	5,540	2,806	4,635	7,225
Printing and postage	6,212	3,147	1,862	2,920	1,449
Insurance premiums	2,728	2,497	2,607	2,343	3,016
Compliance service fees	242	129	72	125	65
Other	944	430	331	331	169

Total expenses	141,619	77,842	45,227	72,673	44,637

Reimbursements:
Reimbursements from adviser	--	--	--	(5)	(3,727)

Net expenses	141,619	77,842	45,227	72,668	40,910

Net investment income	99,478	60,849	56	75,434	166,317

Realized and Unrealized Gain (Loss) on Investments, Options, and Foreign Currency Transactions:
Net realized gain on investment transactions	425,574	727,257	344,293	604,332	15,984
Net realized gain on option transactions	--	--	--	1,675	--
Net realized (loss) on foreign currency transactions	--	--	--	(6,930)	--

Net realized gain on investments, options and foreign currency transactions	425,574	727,257	344,293	599,077	15,984
Net change in unrealized appreciation/depreciation of investments, options and translation of assets and liabilities in foreign currency	2,653,595	907,054	489,620	1,364,320	(175,914)

Net realized and unrealized gain (loss) on investments, options and translation of assets and liabilities in foreign currency	3,079,169	1,634,311	833,913	1,963,397	(159,930)

Change in net assets resulting from operations	$ 3,178,647	$ 1,695,160	$ 833,969	$ 2,038,831	$ 6,387

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

Huntington Funds

Statements of Changes in Net Assets

	Huntington VA Dividend Capture Fund			Huntington VA Growth Fund

		Six Months Ended June 30, 2007 (Unaudited)	Year Ended Dec. 31, 2006		Six Months Ended June 30, 2007 (Unaudited)	Year Ended Dec. 31, 2006

Increase in Net Assets
Operations:
Net investment income		$ 1,056,924	$ 1,892,170		$ 60,653	$ 96,168
Net realized gain on investment transactions		2,032,666	2,672,303		964,216	3,153
Net change in unrealized appreciation/depreciation of investments		(2,128,978)	2,950,662		373,392	1,436,151

Change in net assets resulting from operations		960,612	7,515,135		1,398,261	1,535,472

Distributions to Shareholders:
From net investment income		(1,864,480)	(1,674,502)		(96,168)	(84,462)
From net realized gains		(2,630,367)	(1,099,175)		(3,153)	(234,355)

Change in net assets resulting from distributions to shareholders		(4,494,847)	(2,773,677)		(99,321)	(318,817)

Change in net assets resulting from capital transactions		6,698,915	4,735,251		198,090	46

Change in net assets		3,164,680	9,476,709		1,497,030	1,216,701
Net Assets:
Beginning of period		53,670,733	44,194,024		21,191,007	19,974,306

End of period		$ 56,835,413	$ 53,670,733		$ 22,688,037	$ 21,191,007

Accumulated net investment income included in net assets at end of period		$ 1,084,614	$ 1,892,170		$ 60,828	$ 96,343

Capital Transactions:
Shares issued		2,882,854	4,948,823		980,267	1,865,496
Dividends reinvested		4,494,843	2,773,676		99,317	318,814
Shares redeemed		(678,782)	(2,987,248)		(881,494)	(2,184,264)

Net change resulting from capital transactions		$ 6,698,915	$ 4,735,251		$ 198,090	$ 46

Share Transactions:
Shares Issued		214,069	386,589		99,196	205,823
Dividends Reinvested		345,491	230,563		9,814	36,024
Shares Redeemed		(49,949)	(235,135)		(90,203)	(240,936)

Net change resulting from share transactions		509,611	382,017		18,807	911

Huntington Funds

Statements of Changes in Net Assets

	Huntington VA Income Equity Fund			Huntington VA International Equity Fund

		Six Months Ended June 30, 2007 (Unaudited)	Year Ended Dec. 31, 2006		Six Months Ended June 30, 2007 (Unaudited)	Year Ended Dec. 31, 2006

Increase in Net Assets
Operations:
Net investment income		$ 364,423	$ 739,090		$ 80,271	$ 57,392
Net realized gain on investments, options and foreign currency transactions		2,941,138	1,646,857		230,672	48,559
Net change in unrealized appreciation/depreciation of investments, options and foreign currency transactions		(395,270)	1,968,203		531,605	932,098

Change in net assets resulting from operations		2,910,291	4,354,150		842,548	1,038,049

Distributions to Shareholders:
From net investment income		(711,838)	(708,376)		(1,842)	(54,689)
From net realized gains		(1,314,280)	(1,067,128)		(20,630)	(34,790)

Change in net assets resulting from distributions to shareholders		(2,026,118)	(1,775,504)		(22,472)	(89,479)

Change in net assets resulting from capital transactions		1,208,860	698,010		2,869,751	4,556,859

Change in net assets		2,093,033	3,276,656		3,689,827	5,505,429
Net Assets:
Beginning of period		38,614,053	35,337,397		7,666,044	2,160,615

End of period		$ 40,707,086	$ 38,614,053		$ 11,355,871	$ 7,666,044

Accumulated net investment income (loss) included in net assets at end of period		$ 391,621	$ 739,036		$ 78,311	$ (118)

Capital Transactions:
Shares issued		914,370	2,260,543		3,027,693	4,662,679
Dividends reinvested		2,026,118	1,775,499		24,431	89,478
Shares redeemed		(1,731,628)	(3,338,032)		(182,373)	(195,298)

Net change resulting from capital transactions		$ 1,208,860	$ 698,010		$ 2,869,751	$ 4,556,859

Share Transactions:
Shares Issued		71,037	188,325		185,360	324,273
Dividends Reinvested		156,216	152,142		1,457	5,682
Shares Redeemed		(134,417)	(280,102)		(11,153)	(13,772)

Net change resulting from share transactions		92,836	60,365		175,664	316,183

Huntington Funds

Statements of Changes in Net Assets

	Huntington VA Macro 100 Fund			Huntington VA Mid Corp America Fund			Huntington VA New Economy Fund

		Six Months Ended June 30, 2007 (Unaudited)	Year Ended Dec. 31, 2006		Six Months Ended June 30, 2007 (Unaudited)	Year Ended Dec. 31, 2006		Six Months Ended June 30, 2007 (Unaudited)	Year Ended Dec. 31, 2006

Increase in Net Assets
Operations:
Net investment income		$ 23,993	$ 44,869		$ 99,478	$ 176,565		$ 60,849	$ 30,768
Net realized gain on investment transactions		585,075	808,461		425,574	351,953		727,257	338,258
Net change in unrealized appreciation/depreciation of investments		20,356	(246,683)		2,653,595	1,365,242		907,054	907,488

Change in net assets resulting from operations		629,424	606,647		3,178,647	1,893,760		1,695,160	1,276,514

Distributions to Shareholders:
From net investment income		(43,253)	(14,450)		(176,565)	(105,600)		(28,043)	(14,400)
From net realized gains		(807,611)	(105,627)		(351,953)	(322,968)		(338,258)	(180,902)

Change in net assets resulting from distributions to shareholders		(850,864)	(120,077)		(528,518)	(428,568)		(366,301)	(195,302)

Change in net assets resulting from capital transactions		1,080,557	1,902,976		781,637	2,134,150		1,645,074	3,308,497

Change in net assets		859,117	2,389,546		3,431,766	3,599,342		2,973,933	4,389,709
Net Assets:
Beginning of period		10,138,341	7,748,795		28,813,868	25,214,526		15,127,076	10,737,367

End of period		$ 10,997,458	$ 10,138,341		$ 32,245,634	$ 28,813,868		$ 18,101,009	$ 15,127,076

Accumulated net investment income included in net assets at end of period		$ 23,993	$ 43,253		$ 99,478	$ 176,565		$ 63,774	$ 30,968

Capital Transactions:
Shares issued		676,031	2,391,389		953,325	3,396,668		1,745,483	3,911,096
Dividends reinvested		850,864	120,076		528,516	428,567		366,300	195,301
Shares redeemed		(446,338)	(608,489)		(700,204)	(1,691,085)		(466,709)	(797,900)

Net change resulting from capital transactions		$ 1,080,557	$ 1,902,976		$ 781,637	$ 2,134,150		$ 1,645,074	$ 3,308,497

Share Transactions:
Shares Issued		54,826	197,515		51,911	202,465		92,944	232,544
Dividends Reinvested		71,083	10,006		28,038	25,895		19,238	11,488
Shares Redeemed		(35,987)	(50,796)		(38,047)	(100,861)		(25,161)	(47,240)

Net change resulting from share transactions		89,922	156,725		41,902	127,499		87,021	196,792

Huntington Funds

Statements of Changes in Net Assets

	Huntington VA Rotating Markets Fund			Huntington VA Situs Small Cap Fund			Huntington VA Mortgage Securities Fund

		Six Months Ended June 30, 2007 (Unaudited)	Year Ended Dec. 31, 2006		Six Months Ended June 30, 2007 (Unaudited)	Year Ended Dec. 31, 2006		Six Months Ended June 30, 2007 (Unaudited)	Year Ended Dec. 31, 2006

Increase in Net Assets
Operations:
Net investment income		$ 56	$ 81,313		$ 75,434	$ 473		$ 166,317	$ 181,332
Net realized gain on investments, options and foreign currency transactions		344,293	452,797		599,077	224,009		15,984	4,049
Net change in unrealized appreciation/depreciation of investments, options and foreign currency transactions		489,620	828,314		1,364,320	312,822		(175,914)	90,982

Change in net assets resulting from operations		833,969	1,362,424		2,038,831	537,304		6,387	276,363

Distributions to Shareholders:
From net investment income		(81,313)	(47,074)		--	(8,863)		(181,596)	(52,721)
From net realized gains		(452,797)	(254,062)		(102,084)	(159,616)		(1,930)	--

Change in net assets resulting from distributions to shareholders		(534,110)	(301,136)		(102,084)	(168,479)		(183,526)	(52,721)

Change in net assets resulting from capital transactions		1,416,107	649,708		1,825,389	6,029,494		2,381,397	3,700,026

Change in net assets		1,715,966	1,710,996		3,762,136	6,398,319		2,204,258	3,923,668
Net Assets:
Beginning of period		8,558,016	6,847,020		14,401,595	8,003,276		7,131,601	3,207,933

End of period		$ 10,273,982	$ 8,558,016		$ 18,163,731	$ 14,401,595		$ 9,335,859	$ 7,131,601

Accumulated net investment income included in net assets at end of period		$ 56	$ 81,313		$ 75,434	$ --		$ 166,317	$ 181,596

Capital Transactions:
Shares issued		1,108,759	1,062,312		2,042,891	6,407,155		2,452,150	3,933,545
Dividends reinvested		534,110	301,136		102,082	168,478		183,526	52,721
Shares redeemed		(226,762)	(713,740)		(319,584)	(546,139)		(254,279)	(286,240)

Net change resulting from capital transactions		$ 1,416,107	$ 649,708		$ 1,825,389	$ 6,029,494		$ 2,381,397	$ 3,700,026

Share Transactions:
Shares Issued		73,744	78,727		131,431	450,733		219,183	360,915
Dividends Reinvested		35,679	22,952		6,441	11,645		16,564	5,002
Shares Redeemed		(15,075)	(53,591)		(21,028)	(38,793)		(22,524)	(26,622)

Net change resulting from share transactions		94,348	48,088		116,844	423,585		213,223	339,295

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

Huntington Funds

Financial Highlights

(For a share outstanding throughout each period)

Year Ended December 31,	Net Asset Value, Beginning of Period	Net Investment Income (Loss)	Net Realized and Unrealized Gain on Investments	Total from Investment Operations	Distributions from Net Investment Income	Distributions from Net Realized Gain on Investment Transactions

Huntington VA Dividend Capture Fund
2002	$ 10.15	0.33	(0.33)	--	(0.34)	--
2003	$ 9.81	0.33	1.76	2.09	(0.36)	--
2004	$ 11.54	0.47	1.10	1.57	(0.01)	(0.16)
2005	$ 12.94	0.39	0.07	0.46	(0.39)	(0.60)
2006	$ 12.41	0.47	1.49	1.96	(0.46)	(0.30)
2007⁽²⁾	$ 13.61	0.26⁽⁶⁾	--⁽⁵⁾	0.26	(0.46)	(0.65)
Huntington VA Growth Fund
2002	$ 9.22	--	(1.90)	(1.90)	--	--
2003	$ 7.32	0.02	1.15	1.17	(0.02)	--
2004	$ 8.47	0.04	0.44	0.48	--⁽⁵⁾	--
2005	$ 8.95	0.04	0.02	0.06	(0.04)	--⁽⁵⁾
2006	$ 8.97	0.04	0.65	0.69	(0.04)	(0.11)
2007⁽²⁾	$ 9.51	0.03	0.60	0.63	(0.04)	--⁽⁵⁾
Huntington VA Income Equity Fund
2002	$ 10.10	0.23	(1.22)	(0.99)	(0.23)	--
2003	$ 8.88	0.20	1.43	1.63	(0.20)	--
2004	$ 10.31	0.20	1.20	1.40	--	(0.09)
2005	$ 11.62	0.23	0.12	0.35	(0.19)	--
2006	$ 11.78	0.24	1.20	1.44	(0.24)	(0.36)
2007⁽²⁾	$ 12.62	0.12	0.85	0.97	(0.24)	(0.44)
Huntington VA International Equity Fund
2004⁽⁷⁾	$ 10.00	0.03	1.10	1.13	(0.06)	--
2005	$ 11.07	0.06	1.62	1.68	(0.06)	(0.02)
2006	$ 12.67	0.13	3.14	3.27	(0.11)	(0.08)
2007⁽²⁾	$ 15.75	0.12	1.30	1.42	--⁽⁵⁾	(0.03)
Huntington VA Macro 100 Fund
2004⁽⁷⁾	$ 10.00	0.05	1.08	1.13	--	--
2005	$ 11.13	(0.01)	0.58	0.57	(0.02)	--
2006	$ 11.68	0.05	0.79	0.84	(0.02)	(0.14)
2007⁽²⁾	$ 12.36	0.03	0.70	0.73	(0.05)	(0.96)
Huntington VA Mid Corp America Fund
2002	$ 11.15	--	(1.45)	(1.45)	--	--
2003	$ 9.70	0.01	2.86	2.87	(0.01)	(0.01)
2004	$ 12.55	0.02	2.10	2.12	--⁽⁵⁾	--
2005	$ 14.67	0.07	1.79	1.86	(0.02)	(0.02)
2006	$ 16.49	0.11	1.07	1.18	(0.07)	(0.20)
2007⁽²⁾	$ 17.40	0.06	1.85	1.91	(0.11)	(0.21)

(1) During the period 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, 2007 (Unaudited).

(3) Not annualized.

(4) Computed on annualized basis.

(5) Amount is less than $0.005.

(6) Average shares method used in calculation.

(7) Reflects operations for the period from May 3, 2004 (commencement of operations) to December 31, 2004.

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

Total Distributions	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⁾	Ratio of Net Investment Income (Loss) (Prior to Reimbursements) to Average Net Assets^⁽¹⁾	Net Assets, at End of Period (000 Omitted)	Portfolio Turnover Rate


(0.34)	$ 9.81	(0.05)%	1.12%	5.89%	2.23%	4.78%	$ 3,396	70%
(0.36)	$ 11.54	21.36%	1.00%	5.22%	1.01%	5.21%	$ 17,360	87%
(0.17)	$ 12.94	13.75%	0.95%	4.72%	0.95%	4.72%	$ 31,782	88%
(0.99)	$ 12.41	3.59%	0.93%	4.41%	0.93%	4.41%	$ 44,194	111%
(0.76)	$ 13.61	16.59%	0.92%	3.90%	0.92%	3.90%	$ 53,671	94%
(1.11)	$ 12.76	1.76%⁽³⁾	0.90%⁽⁴⁾	3.84%⁽⁴⁾	0.90%⁽⁴⁾	3.84%⁽⁴⁾	$ 56,835	49%

--	$ 7.32	(20.56)%	1.02%	0.14%	1.58%	(0.42)%	$ 3,654	2%
(0.02)	$ 8.47	15.95%	1.00%	0.32%	1.00%	0.32%	$ 12,065	4%
--	$ 8.95	5.67%	0.95%	0.59%	0.95%	0.59%	$ 17,933	11%
(0.04)	$ 8.97	0.72%	0.95%	0.45%	0.95%	0.45%	$ 19,974	15%
(0.15)	$ 9.51	7.76%	0.93%	0.48%	0.93%	0.48%	$ 21,191	19%
(0.04)	$ 10.10	6.67%⁽³⁾	0.93%⁽⁴⁾	0.56%⁽⁴⁾	0.93%⁽⁴⁾	0.56%⁽⁴⁾	$ 22,688	71%

(0.23)	$ 8.88	(9.96)%	1.11%	2.81%	1.54%	2.38%	$ 8,712	4%
(0.20)	$ 10.31	18.43%	1.00%	2.63%	1.00%	2.63%	$ 21,232	97%
(0.09)	$ 11.62	13.66%	0.93%	2.00%	0.93%	2.00%	$ 31,348	47%
(0.19)	$ 11.78	2.98%	0.93%	2.15%	0.93%	2.15%	$ 35,337	53%
(0.60)	$ 12.62	12.59%	0.92%	2.03%	0.92%	2.03%	$ 38,614	73%
(0.68)	$ 12.91	7.61%⁽³⁾	0.92%⁽⁴⁾	1.86%⁽⁴⁾	0.92%⁽⁴⁾	1.86%⁽⁴⁾	$ 40,707	75%

(0.06)	$ 11.07	11.26%⁽³⁾	1.00%⁽⁴⁾	0.56%⁽⁴⁾	1.76%⁽⁴⁾	(0.20)%⁽⁴⁾	$ 403	31%
(0.08)	$ 12.67	15.21%	1.00%	0.96%	1.78%	0.18%	$ 2,161	7%
(0.19)	$ 15.75	25.84%	0.97%	1.31%	1.06%	1.22%	$ 7,666	10%
(0.03)	$ 17.14	9.13%⁽³⁾	0.98%⁽⁴⁾	1.72%⁽⁴⁾	1.01%⁽⁴⁾	1.69%⁽⁴⁾	$ 11,356	14%

--	$ 11.13	11.30%⁽³⁾	1.00%⁽⁴⁾	1.62%⁽⁴⁾	1.05%⁽⁴⁾	1.57%⁽⁴⁾	$ 2,324	1%
(0.02)	$ 11.68	5.14%	1.00%	0.28%	1.04%	0.23%	$ 7,749	82%
(0.16)	$ 12.36	7.26%	0.97%	0.49%	0.97%	0.49%	$ 10,138	213%⁽⁸⁾
(1.01)	$ 12.08	6.02%⁽³⁾	0.97%⁽⁴⁾	0.46%⁽⁴⁾	0.97%⁽⁴⁾	0.46%⁽⁴⁾	$ 10,997	143%

--	$ 9.70	(13.00)%	1.15%	(0.10)%	2.10%	(1.05)%	$ 3,106	3%
(0.02)	$ 12.55	29.63%	1.00%	0.20%	1.00%	0.20%	$ 10,352	25%
--⁽⁵⁾	$ 14.67	16.91%	0.95%	0.17%	0.95%	0.17%	$ 17,805	10%
(0.04)	$ 16.49	12.67%	0.95%	0.49%	0.95%	0.49%	$ 25,215	7%
(0.27)	$ 17.40	7.24%	0.93%	0.65%	0.93%	0.65%	$ 28,814	8%
(0.32)	$ 18.99	10.97%⁽³⁾	0.93%⁽⁴⁾	0.65%⁽⁴⁾	0.93%⁽⁴⁾	0.65%⁽⁴⁾	$ 32,246	6%

Huntington Funds

Financial Highlights

(For a share outstanding throughout each period)

Year Ended December 31,	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

Huntington VA New Economy Fund
2002	$ 10.90	(0.02)	(1.47)	(1.49)	--	--
2003	$ 9.41	(0.02)	2.99	2.97	--	--
2004	$ 12.38	(0.03)	2.31	2.28	--	(0.28)
2005	$ 14.38	0.02	1.88	1.90	--	(0.01)
2006	$ 16.27	0.04	1.62	1.66	(0.02)	(0.25)
2007⁽²⁾	$ 17.66	0.06	1.87	1.93	(0.03)	(0.38)
Huntington VA Rotating Markets Fund
2002	$ 10.45	(0.01)	(1.57)	(1.58)	--	--
2003	$ 8.87	0.06	2.10	2.16	--	--
2004	$ 11.03	0.07	1.17	1.24	(0.05)	(0.33)
2005	$ 11.89	0.09	1.04	1.13	(0.08)	(0.24)
2006	$ 12.70	0.14	2.29	2.43	(0.09)	(0.47)
2007⁽²⁾	$ 14.57	--⁽⁵⁾⁽⁶⁾	1.34	1.34	(0.13)	(0.71)
Huntington VA Situs Small Cap Fund
2004⁽⁷⁾	$ 10.00	(0.01)	1.98	1.97	--	--
2005	$ 11.97	(0.01)	2.07	2.06	--⁽⁵⁾	(0.08)
2006	$ 13.95	--⁽⁵⁾	0.68	0.68	(0.01)	(0.18)
2007⁽²⁾	$ 14.44	0.07	1.88	1.95	--	(0.09)
Huntington VA Mortgage Securities Fund
2004⁽⁷⁾	$ 10.00	0.18	0.41	0.59	--	--
2005	$ 10.59	0.37⁽⁶⁾	(0.24)	0.13	(0.07)	--
2006	$ 10.65	0.43⁽⁶⁾	0.20	0.63	(0.14)	--
2007⁽²⁾	$ 11.14	0.15	(0.11)	0.04	(0.24)	--⁽⁵⁾

(1) During the period 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, 2007 (Unaudited).

(3) Not annualized.

(4) Computed on annualized basis.

(5) Amount is less than $0.005.

(6) Average shares method used in calculation.

(7) Reflects operations for the period from May 3, 2004 (commencement of operations) to December 31, 2004.

(8) Does not include the effect of expenses of underlying funds.

(9) Amount rounds to less than 0.005%.

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

Total Distributions	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⁾	Ratio of Net Investment Income (Loss) (Prior to Reimbursements) to Average Net Assets^⁽¹⁾	Net Assets, at End of Period (000 Omitted)	Portfolio Turnover Rate


--	$ 9.41	(13.67)%	1.21%	(0.44)%	3.38%	(2.61)%	$ 755	20%
--	$ 12.38	31.56%	1.00%	(0.28)%	1.05%	(0.33)%	$ 2,998	80%
(0.28)	$ 14.38	18.75%	0.98%	(0.31)%	0.98%	(0.31)%	$ 5,881	18%
(0.01)	$ 16.27	13.24%	1.00%	0.18%	1.02%	0.16%	$ 10,737	49%
(0.27)	$ 17.66	10.28%	0.96%	0.24%	0.96%	0.24%	$ 15,127	51%
(0.41)	$ 19.18	10.94%⁽³⁾	0.95%⁽⁴⁾	0.74%⁽⁴⁾	0.95%⁽⁴⁾	0.74%⁽⁴⁾	$ 18,101	41%

--	$ 8.87	(15.12)%	1.21%⁽⁵⁾	(0.20)%⁽⁵⁾	3.33%⁽⁵⁾	(2.32)%⁽⁵⁾	$ 930	113%
--	$ 11.03	24.35%	1.00%⁽⁸⁾	1.02%⁽⁸⁾	1.06%⁽⁸⁾	0.96%⁽⁸⁾	$ 4,219	151%
(0.38)	$ 11.89	11.63%	0.98%⁽⁸⁾	0.77%⁽⁸⁾	0.98%⁽⁸⁾	0.77%⁽⁸⁾	$ 6,152	81%
(0.32)	$ 12.70	9.66%	1.00%⁽⁸⁾	0.75%⁽⁸⁾	1.00%⁽⁸⁾	0.75%⁽⁸⁾	$ 6,847	44%
(0.56)	$ 14.57	19.61%	0.97%⁽⁸⁾	1.08%⁽⁸⁾	0.97%⁽⁸⁾	1.08%⁽⁸⁾	$ 8,558	31%
(0.84)	$ 15.07	9.25%⁽³⁾	0.97%⁽⁴⁾⁽⁸⁾	--⁽⁴⁾⁽⁸⁾⁽⁹⁾	0.97%⁽⁴⁾⁽⁸⁾	--⁽⁴⁾⁽⁸⁾⁽⁹⁾	$ 10,274	22%

--	$ 11.97	19.70%⁽³⁾	1.00%⁽⁴⁾	(0.19)%⁽⁴⁾	1.19%⁽⁴⁾	(0.38)%⁽⁴⁾	$ 1,319	3%
(0.08)	$ 13.95	17.18%	0.99%	(0.19)%	1.05%	(0.25)%	$ 8,003	10%
(0.19)	$ 14.44	4.84%	0.95%	0.01%	0.95%	0.01%	$ 14,402	17%
(0.09)	$ 16.30	13.56%⁽³⁾	0.91%⁽⁴⁾	0.94%⁽⁴⁾	0.91%⁽⁴⁾	0.94%⁽⁴⁾	$ 18,164	15%

--	$ 10.59	5.90%⁽³⁾	1.00%⁽⁴⁾	3.42%⁽⁴⁾	1.33%⁽⁴⁾	3.09%⁽⁴⁾	$ 407	51%
(0.07)	$ 10.65	1.25%	1.00%	3.53%	1.50%	3.03%	$ 3,208	19%
(0.14)	$ 11.14	5.89%	0.99%	3.99%	1.15%	3.83%	$ 7,132	36%
(0.24)	$ 10.94	0.44%⁽³⁾	1.00%⁽⁴⁾	4.09%⁽⁴⁾	1.10%⁽⁴⁾	4.00%⁽⁴⁾	$ 9,336	11%

Huntington Funds

Notes to Financial Statements

June 30, 2007 (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”). 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. The Trust operates 30 separate series, or mutual funds, each with its own investment objective and strategy. This report contains financial statements and financial highlights of the funds listed below (each individually referred to as “Fund,” or collectively as the “Funds”):

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 Rotating Markets Fund (VA Rotating Markets Fund)
Huntington VA Situs Small Cap Fund (VA Situs Small Cap 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 (“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”), they are sold only to separate accounts of Hartford Life Insurance Company, Nationwide Life and Annuity Insurance Company, Nationwide Life Insurance Company, and Transamerica Life Insurance Company for use with their respective variable insurance contracts and policies.

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

(2) Significant Accounting Policies

The following is a summary of significant accounting policies consistently followed by each Fund in the preparation of its financial statements. These policies are in conformity with accounting principles generally accepted in the United States of America (“GAAP”).

A. Investment Valuations

The price at which the Funds will offer or redeem Shares is the net asset value (“NAV”) per Share next determined after the order is considered received. In computing NAV, current market value is used to value portfolio securities with respect to which market quotations are readily available. Pursuant to policies approved by the Trustees, 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. 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. Foreign securities are subject to modification based on significant events as described below. 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. Except as noted above, 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. If there is no reported sale on the principal exchange, and for all other debt securities, including zero-coupon 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. 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 option contracts traded for that issue) on which such options are traded. 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.

Securities for which market quotations are not readily available are valued at their “fair value.” 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 of the situation at issue, transactions implicitly valuing the security at issue (such as a merger, tender offer, etc.), the value of other securities or contracts which derive their value from the security at issue, and the implications (whether negative or positive) of the circumstances which have caused trading in the security to halt. The final good faith fair valuation of a security is based on an analysis of those factors deemed relevant to the security valuation at issue. With respect to certain narrow categories of securities, the Pricing Committee’s procedures detail specific valuation methodologies to be used in lieu of considering the aforementioned list of factors.

The Funds may use the fair value of a security to calculate its NAV when a market price is not readily available, such as when: (1) a portfolio security is not traded in a public market or the principal market in which the security trades is closed, (2) trading in a portfolio security is suspended and not resumed prior to the normal market close, (3) a portfolio security is not traded in significant volume for a substantial period, or (4) the Funds’ investment adviser, Huntington Asset Advisors, Inc. (“Advisor”), determines that the quotation or price for a portfolio security provided by a dealer or independent pricing service is inaccurate.

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 general securities market movements occurring between the time when the price of the portfolio security is determined and the close of trading on the NYSE. For domestic fixed income securities, such events may occur where the cut-off time for the market information used by the independent pricing service is earlier than the end of regular trading on the NYSE. For securities normally priced at their last sale price in a foreign market, such events can occur between the close of trading in the foreign market and the close of trading on the NYSE. In such cases, use of fair valuation can reduce an investor’s ability to seek to profit by estimating a Fund’s NAV in advance of the time when the NAV is calculated.

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 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. Since the VA International Equity Fund invests primarily in foreign securities, it is most likely to be affected by this fair valuation methodology. Since the VA Situs Small Cap Fund invests some of its assets in foreign securities, it may be affected, although to a lesser extent.

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 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. Fair valuations generally remain unchanged until new information becomes available. Consequently, changes in 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. Fair valuation determinations often involve the consideration of a number of subjective factors, and the fair value price may be higher or lower than a readily available market quotation.

B. Repurchase Agreements

The Funds may enter into repurchase agreements with banks and other recognized financial institutions, such as broker/dealers, which are deemed by the Funds’ Advisor to be creditworthy pursuant to the guidelines and/or standards reviewed or established by the Trustees. It is the policy of the Funds to require the custodian bank to take possession of, to have legally segregated in the Federal Reserve Book Entry System, or to have segregated within the custodian bank’s vault, all securities held as collateral under repurchase agreement transactions. Additionally, procedures have been established by the Funds to monitor, on a daily basis, the market value of each repurchase agreement’s collateral to ensure that the value of collateral at least equals the repurchase price to be paid under the repurchase agreement transaction. If the counterparty defaults and the fair value of the collateral declines, realization of the collateral by the Funds may be delayed or limited.

C. Dividends and Distributions to Shareholders

Dividends from net investment income, 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 discount, capital loss carryforwards and losses deferred due to wash sales.

The Funds may own shares of real estate investment trusts (“REITS”) which report information on the source of their distributions annually. Certain distributions received from the REITS during the year, which are known to be return of capital, are recorded as reduction to the cost of the individual REIT.

D. Federal Income Taxes

It is the policy of each Fund to qualify or continue to qualify as a regulated investment company by complying with the provisions available to certain investment companies, as defined in applicable sections of the Internal Revenue Code, and to make distributions of net investment income and net realized capital gains sufficient to relieve it from all, or substantially all, federal income taxes. In addition to complying with the federal tax requirements applicable to regulated investment companies, the Funds also plan to comply with certain diversification standards applicable to underlying assets of variable annuity contracts in order to avoid taxation on the variable contract owners with respect to earnings allocable to the contract from investments in the Funds.

Withholding taxes on foreign interest, dividends and capital gains with respect to VA International Equity Fund, and VA Situs Small Cap Fund have been provided for in accordance with each Fund’s applicable country’s tax rules and rates.

As of June 30, 2007, 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)**

VA Dividend Capture Fund	65,265,239	3,146,239	(1,699,906)	1,446,333
VA Growth Fund	22,207,516	3,419,013	(81,967)	3,337,046
VA Income Equity Fund	41,407,333	6,337,178	(701,231)	5,635,947
VA International Equity Fund	8,901,413	1,767,951	(72,523)	1,695,428
VA Macro 100 Fund	10,630,084	529,998	(172,366)	357,632
VA Mid Corp America Fund	27,153,847	10,419,715	(226,174)	10,193,541
VA New Economy Fund	16,486,634	4,171,654	(224,118)	3,947,536
VA Rotating Markets Fund	7,768,080	2,490,700	(10,686)	2,480,014
VA Situs Small Cap Fund	15,717,848	3,210,646	(802,550)	2,408,096
VA Mortgage Securities Fund	9,678,208	52,545	(149,729)	(97,184)

** The difference between the book-basis and tax-basis cost of securities is attributable primarily to tax deferral of losses on wash sales.

Under current tax law, capital losses realized after October 31 of a Fund’s fiscal year may be treated as occurring on the first business day of the following year for tax purposes. The following Fund had a deferred post October capital loss, which will be treated as arising on the first business day of the fiscal year ending December 31, 2007:

Fund		Post-October Losses

VA Mortgage Securities Fund		$ (898)

The tax character of distributions paid during the fiscal year ended December 31, 2006, was as follows:

	Distributions Paid From			Total Distributions Paid

Fund	Ordinary Income	Net Long Term Capital Gains	Total Taxable Distributions

VA Dividend Capture Fund	$ 2,046,943	$ 726,734	$ 2,773,677	$ 2,773,677
VA Growth Fund	100,751	218,066	318,817	318,817
VA Income Equity Fund	777,005	998,499	1,775,504	1,775,504
VA International Equity Fund	65,334	22,185	87,519	87,519
VA Macro 100 Fund	104,493	15,584	120,077	120,077
VA Mid Corp America Fund	188,958	239,610	428,568	428,568
VA New Economy Fund	19,805	175,497	195,302	195,302
VA Rotating Markets Fund	76,971	224,165	301,136	301,136
VA Situs Small Cap Fund	100,419	68,060	168,479	168,479
VA Mortgage Securities Fund	52,721	--	52,721	52,721

As of December 31, 2006, 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 Dividend Capture Fund	$ 4,100,964	$ 389,477	$ 4,490,441	$ --	$ 3,575,311	$ 8,065,752
VA Growth Fund	96,168	3,153	99,321	--	2,963,658	3,062,979
VA Income Equity Fund	711,838	1,314,280	2,026,118	--	6,186,946	8,213,064
VA International Equity Fund	9,862	12,610	22,472	--	1,166,707	1,189,179
VA Macro 100 Fund	606,449	244,415	850,864	--	337,276	1,188,140
VA Mid Corp America Fund	213,177	315,341	528,518	--	7,539,946	8,068,464
VA New Economy Fund	64,494	301,807	366,301	--	3,040,482	3,406,783
VA Rotating Markets Fund	260,862	273,248	534,110	--	2,001,080	2,535,190
VA Situs Small Cap Fund	4,281	97,803	102,084	--	1,043,800	1,145,884
VA Mortgage Securities Fund	181,596	1,930	183,526	(898)	78,730	261,358

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

As required, effective June 29, 2007, the Funds adopted Financial Accounting Standards Board Interpretation No. 48, Accounting for Uncertainty in Income Taxes (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The adoption of FIN 48 did not impact the Funds’ net assets or results of operations.

E. Foreign Exchange Contracts

The VA International Equity Fund, VA Rotating Markets Fund and VA Situs Small Cap Fund may enter into foreign currency commitments for the delayed delivery of securities or foreign currency exchange transactions. The VA International Equity Fund, VA Rotating Markets Fund and VA Situs Small Cap Fund may enter into foreign currency contract transactions to protect assets against adverse changes in foreign currency exchange rates or exchange control regulations. Purchase contracts are used to acquire exposure to foreign currencies, while contracts to sell are used to hedge the securities against currency fluctuations. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their commitments and from unanticipated movements in security prices or foreign exchange rates. The foreign currency translations are adjusted by the daily exchange rate of the underlying currency and any gains or losses are recorded for financial statement purposes as unrealized until the settlement date. At June 30, 2007, the VA International Equity Fund, VA Rotating Markets Fund and VA Situs Small Cap Fund had no outstanding foreign currency commitments.

F. Foreign Currency Translation

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

G. 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.

H. 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.

I. Written Options Contracts

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

The following is a summary of the VA Income Equity Fund’s written option activity for the six months ended June 30, 2007:

Contracts	Number of Contracts	Premium

Outstanding at 12/31/2006	1,226	$ 362,350
Options written	(2,138)	(573,989)
Options expired	--	--
Options closed	1,848	384,995
Options exercised	--	--

Outstanding at 6/30/2007	936	$ 173,356

At June 30, 2007, the VA Income Equity Fund had the following outstanding options:

Contract	Type	Expiration Date	Exercise Price	Number of Contracts	Market Value	Unrealized Appreciation (Depreciation)

AT&T Inc.	Call	January 2008	$45	104	$ 15,080	$ (2,390)
Aetna Inc.	Call	January 2008	60	91	7,735	5,187
Devon Energy	Call	January 2008	90	29	7,323	1,000
Marathon Oil Corp.	Call	January 2008	62.5	70	33,600	(9,556)
Nokia Corp.	Call	January 2008	30	289	50,575	3,467
Occidental Petroleum Corp.	Call	January 2008	62.5	91	30,485	(10,739)
Sprint Nextel Corp.	Call	November 2007	25	231	8,085	17,787
Valero Energy Corp.	Call	December 2007	80	31	13,330	2,387

NET UNREALIZED APPRECIATION ON WRITTEN OPTION CONTRACTS						$ 7,143

J. 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. Information on the investment of cash collateral is shown in the table that follows. The Funds receive payments from borrowers equivalent to the dividends and interest that would have been earned on securities on loan. In addition, the Funds retain all or a portion of the interest received on investment of collateral or receive a fee from the borrower. Collateral is marked to market daily. One of the risks in lending portfolio securities, as with other extensions of credit, is the possible delay in recovery of the securities or possible loss of rights in the collateral should the borrower fail financially. 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. PFPC Trust Co. (“PFPC”) serves as the sub-custodian for the securities lending program. PFPC 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, 2007, the following Funds had securities with the following market values on loan:

Fund	Market Value of Loaned Securities	Market Value of Collateral

VA Dividend Capture Fund	$ 9,247,104	$ 9,570,514
VA Growth Fund	2,810,423	2,886,590
VA Income Equity Fund	5,905,583	6,196,644
VA Mid Corp America Fund	5,055,016	5,212,417
VA New Economy Fund	2,338,679	2,383,472

As of June 30, 2007, cash collateral invested was as follows:

Fund	Master Note	Money Market Fund	Time Deposits	Other Short-Term Securities	Total

VA Dividend Capture Fund	$ --	$ 7,779,957	$ 1,372,225	$ 418,332	$ 9,570,514
VA Growth Fund	389,635	2,121,661	375,294	--	2,886,590
VA Income Equity Fund	--	5,265,253	931,391	--	6,196,644
VA Mid Corp America Fund	--	4,428,961	783,456	--	5,212,417
VA New Economy Fund	129,710	1,915,013	338,749	--	2,383,472

K. Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses for the period. Actual results could differ from those estimates.

L. Security Transactions and Related Income

During the period, investment transactions are accounted for no later than the first calculation of 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.

M. New Accounting Pronouncements

In September 2006, FASB issued Statement on Financial Accounting Standards (SFAS) No. 157, “Fair Value Measurements.” This standard establishes a single authoritative definition of fair value, sets out a framework for measuring fair value and requires additional disclosures about fair value measurements. SFAS No. 157 applies to fair value measurements already required or permitted by existing standards. The changes to current generally accepted accounting principles from the application of this statement relate to the definition of fair value, the methods used to measure fair value, and the expanded disclosures about fair value measurements. SFAS No. 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007 and interim periods within those fiscal years. As of June 30, 2007, the Funds do not believe the adoption of SFAS No. 157 will impact the financial statement amounts, however, additional disclosures may be required about the inputs used to develop the measurements and the effect of certain of the measurements on changes in net assets for the period.

(3) Investment Advisory Fee and Other Transactions with Affiliates

Investment Advisory Fee--Huntington Asset Advisors, Inc., a subsidiary of Huntington, serves as the Funds’ investment adviser. 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.

The Advisor has contractually agreed to waive all or a portion of its investment advisory fee (based on average daily net assets) to which it is otherwise entitled to receive from the Funds and/or to reimburse certain operating expenses of each Fund in order to limit the total operating expense for each Fund to not more than 1.00% of each Fund’s average daily net assets through April 30, 2008. 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.

Sub-Investment Advisory Fee--Laffer Investments, Inc. is the sub-investment advisor (the “Sub-advisor”) of the VA Macro 100 Fund (the “Fund”). The Advisor pays the Sub-advisor a fee for its services, computed daily and paid monthly, at an annual rate of 0.40% of the average daily net assets of the Fund. Neither the Trust nor the Fund is liable for payment of this sub-advisory fee.

Administrative and Financial Administration Fees--Huntington is the Administrator to the Trust, and Federated Services Company (“FServ”) is the Sub-Administrator. As Administrator, Huntington provides the Funds with certain administrative services. As Sub-Administrator, FServ provides the Funds with certain administrative personnel, and generally assists with the provision of administrative services necessary to operate the Funds. Huntington also serves as Financial Administrator, providing portfolio accounting services to the Funds. Huntington has sub-contracted certain fund accounting services to BISYS Fund Services Ohio, Inc. (“BISYS”). BISYS (the Sub-Financial Administrator) is paid directly by Huntington, not the Funds, for these services. The fees paid for administrative, sub-administrative, financial administrative and sub-financial administrative services are based on the level of average net assets of each Fund for the period, subject to minimum fees, in certain circumstances. FServ and Edgewood Services, Inc., the Trust’s distributor, are wholly-owned subsidiaries of Federated Investors, Inc.

Huntington provides administrative services at the following annual rate:

Maximum Administrative Fee		Average Daily Net Assets of the Funds

0.135 of 1%		on the first $4 billion
0.125 of 1%		on the next $3 billion
0.115 of 1%		on assets in excess of $7 billion

There is no minimum annual fee per Fund or class of Shares.

FServ receives a fee from Huntington for providing sub-administrative services from Huntington at the following rate:

Maximum Sub-Administrative Fee		Average Daily Net Assets of the Funds

0.05%		on the first $3 billion
0.04%		on the next $2 billion
0.03%		on assets in excess of $5 billion

There is a minimum annual fee per Fund of $50,000.

Transfer and Dividend Disbursing Agent Fees and Expenses--Unified Fund Services, Inc. (“Unified”), a subsidiary of Huntington, is transfer and dividend disbursing agent for the Funds. For its services, Unified receives a yearly fixed amount per shareholder account, subject to a yearly minimum of $6,000 per each fund. 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 the Funds’ custodian except for the VA International Equity Fund. State Street Bank and Trust Company (“State Street”) serves as custodian for the VA International Equity Fund. The Bank of New York serves as sub-custodian of VA Situs Small Cap Fund’s foreign assets. Huntington, State Street and The Bank of New York receive fees based on the level of a Fund’s average daily net assets for the period, plus out-of-pocket expenses. PFPC serves as sub-custodian for the securities lending program and retains a portion of earnings from the investment and reinvestment of cash collateral and a portion of any loan fees paid by borrowers with respect to securities loans.

Compliance Services--The Trust has contracted with Huntington to provide a Chief Compliance Officer to the Trust, for which it pays Huntington $130,000.

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

Pursuant to an exemptive order issued by the Securities and Exchange Commission, the Funds may invest in certain affiliated money market funds which are managed by the Advisor. Income distributions earned from investments in these funds are recorded as income in the accompanying financial statements. A summary of each Fund’s investment in such affiliated money market funds (Huntington Money Market Fund) is set forth below:

Fund	12/31/06 Balance	Purchases	Sales	6/30/07 Balance	Income	Value

VA Dividend Capture Fund	$ 2,504,742	$ 6,477,845	$ (6,968,840)	$ 2,013,747	$ 30,111	$ 2,013,747
VA Growth Fund	327,255	1,467,780	(1,066,341)	728,694	6,632	728,694
VA Income Equity Fund	638,597	5,475,156	(5,826,462)	287,291	14,949	287,291
VA Macro 100 Fund	202,515	702,183	(646,402)	258,296	5,318	258,296
VA Mid Corp America Fund	3,591,738	2,230,058	(2,400,086)	3,421,710	85,375	3,421,710
VA New Economy Fund	1,190,212	2,778,495	(2,542,014)	1,426,693	24,567	1,426,693
VA Rotating Markets Fund	404,235	1,273,134	(1,415,722)	261,647	9,028	261,647
VA Situs Small Cap Fund	1,197,609	4,014,654	(4,812,656)	399,607	20,793	399,607
VA Mortgage Securities Fund	632,916	3,217,504	(3,243,931)	606,489	15,702	606,489

(4) VA Rotating Markets Fund Structure

The VA Rotating Markets Fund (“Fund”), in accordance with its prospectus, may seek to achieve its investment objectives by investing in other investment companies (“Underlying Funds”) with similar investment objectives. As a result, investors in the Fund incur expenses of both the Fund 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 and long-term U.S. government securities (and in-kind contributions), for the six months ended June 30, 2007 were as follows:

Fund	Purchases	Sales

VA Dividend Capture Fund	$ 30,757,797	$ 26,456,130
VA Growth Fund	15,221,272	15,473,258
VA Income Equity Fund	29,267,100	29,575,558
VA International Equity Fund	4,357,675	1,243,324
VA Macro 100 Fund	15,005,250	14,783,637
VA Mid Corp America Fund	2,146,926	1,700,687
VA New Economy Fund	7,473,288	6,376,978
VA Rotating Markets Fund	2,969,097	1,959,888
VA Situs Small Cap Fund	4,820,143	2,242,119
VA Mortgage Securities Fund	3,876,775	865,846

Purchases and sales of long-term U.S. Government Securities for the six months ended June 30, 2007, were as follows:

Fund	Purchases	Sales

VA Mortgage Securities Fund	$ 3,844,536	$ 1,307,503

Huntington Funds

Supplemental Information (Unaudited)

Shareholder Expense Example

Fund Expenses. As a shareholder of a Fund, you incur ongoing costs, including management fees and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds.

The examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire six-month period from January 1, 2007 to June 30, 2007.

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 (for example, $8,600 account value divided by $1,000 = 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 the 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, 2007	Ending Account Value, June 30, 2007	Expenses Paid During Period^⁽²⁾	Annualized Expense Ratio

VA Dividend Capture Fund
Actual	$ 1,000.00	$ 1,017.60	$ 4.50	0.90%
Hypothetical⁽¹⁾	$ 1,000.00	$ 1,020.54	$ 4.52	0.90%
VA Growth Fund
Actual	$ 1,000.00	$ 1,066.70	$ 4.77	0.93%
Hypothetical⁽¹⁾	$ 1,000.00	$ 1,020.39	$ 4.67	0.93%
VA Income Equity Fund
Actual	$ 1,000.00	$ 1,076.10	$ 4.74	0.92%
Hypothetical⁽¹⁾	$ 1,000.00	$ 1,020.44	$ 4.62	0.92%
VA International Equity Fund
Actual	$ 1,000.00	$ 1,091.30	$ 5.08	0.98%
Hypothetical⁽¹⁾	$ 1,000.00	$ 1,020.14	$ 4.92	0.98%
VA Macro 100 Fund
Actual	$ 1,000.00	$ 1,060.20	$ 4.95	0.97%
Hypothetical⁽¹⁾	$ 1,000.00	$ 1,020.19	$ 4.87	0.97%
VA Mid Corp America Fund
Actual	$ 1,000.00	$ 1,109.70	$ 4.86	0.93%
Hypothetical⁽¹⁾	$ 1,000.00	$ 1,020.39	$ 4.67	0.93%
VA New Economy Fund
Actual	$ 1,000.00	$ 1,109.40	$ 4.97	0.95%
Hypothetical⁽¹⁾	$ 1,000.00	$ 1,020.29	$ 4.77	0.95%
VA Rotating Markets Fund
Actual	$ 1,000.00	$ 1,092.50	$ 5.03	0.97%
Hypothetical⁽¹⁾	$ 1,000.00	$ 1,020.19	$ 4.87	0.97%
VA Situs Small Cap Fund
Actual	$ 1,000.00	$ 1,135.60	$ 4.82	0.91%
Hypothetical⁽¹⁾	$ 1,000.00	$ 1,020.49	$ 4.57	0.91%
VA Mortgage Securities Fund
Actual	$ 1,000.00	$ 1,004.40	$4.97	1.00%
Hypothetical⁽¹⁾	$ 1,000.00	$ 1,020.04	$ 5.02	1.00%

⁽¹⁾ Hypothetical assumes 5% annual return before expenses.

⁽²⁾ Expenses are equal to the Fund’s annualized expense ratios, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). The annualized expense ratios reflect reimbursement of expenses by the Funds’ Advisor for the period beginning January 1, 2007 through June 30, 2007. The “Financial Highlights” tables in the Funds’ financial statements, included in this report, also show the gross expense ratios, without such reimbursements.

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 1-800-SEC-0330 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 of Huntington Funds]

The Huntington National Bank, a subsidiary of Huntington Bancshares, Inc. is the Administrator and Financial Administrator of The Huntington Funds and is the Custodian of certain Funds. State Street Bank and Trust Company is also a Custodian to one of the Funds.

Huntington Asset Advisors, Inc., a subsidiary of The Huntington National Bank, serves as Investment Adviser to the Funds. Federated Services Co. and Edgewood Services, Inc., the Sub-Administrator and Distributor of The Huntington Funds, respectively, are not affiliated with The Huntington National Bank

Cusip 446771206
Cusip 446771107
Cusip 446771701
Cusip 446771305
Cusip 446771503
Cusip 446771602
Cusip 446771800
Cusip 446771875
Cusip 446771867
Cusip 446771883

ITEM 2. CODE OF ETHICS.

   Not applicable

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Not applicable

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Not applicable

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable.

ITEM 6. SCHEDULE OF INVESTMENTS.

Not applicable.

ITEM  7.  DISCLOSURE  OF  PROXY  VOTING  POLICIES  AND PROCEDURES FOR CLOSED-END
MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 8. 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 is reasonably likely to materially affect, the
registrant's internal control over financial reporting.

ITEM 12. EXHIBITS.

(a)(1) NOT APPLICABLE

(a)(2) CERTIFICATIONS PURSUANT TO  RULE  30A-2(A)  UNDER  THE  ACT  ARE ATTACHED
HERETO.

(a)(3) NOT APPLICABLE.

(b)  CERTIFICATIONS  PURSUANT  TO  RULE  30A-2(B)  UNDER  THE  ACT 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/Charles L. Davis
               Charles L. Davis, Jr., Chief Executive Officer and Principal
               Executive Officer



Date  September 6, 2007

     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/Charles L. Davis
               Charles L. Davis, Jr., Chief Executive Officer and Principal
               Executive Officer

Date  September 6, 2007

By (Signature and Title)* /s/Christopher E. Sabato
               Christopher E. Sabato, Treasurer and Principal Financial Officer


Date  September 6, 2007

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

Semi-Annual Shareholder Report

Huntington Florida Tax-Free Money Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Money Market Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Ohio Municipal Money Market Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington U.S. Treasury Money Market Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Dividend Capture Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Growth Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Income Equity Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington International Equity Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Macro 100 Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Mid Corp America Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington New Economy Fund

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Real Strategies Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Rotating Markets Fund

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Situs Small Cap Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Fixed Income Securities Fund

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Intermediate Government Income Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Michigan Tax-Free Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Mortgage Securities Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Ohio Tax-Free Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Huntington Short/Intermediate Fixed Income Securities Fund June 30, 2007

Portfolio of Investments Summary Table (unaudited)

Portfolio of Investments (unaudited)

Statements of Assets and Liabilities

Statements of Assets and Liabilities

Statements of Operations

Statements of Operations

Statements of Changes in Net Assets

Statements of Changes in Net Assets (continued)

Statements of Changes in Net Assets

Statements of Changes in Net Assets (continued)

Statements of Changes in Net Assets

Statements of Changes in Net Assets (continued)

Statements of Changes in Net Assets

Statements of Changes in Net Assets (continued)

Financial Highlights

Financial Highlights

Financial Highlights

Financial Highlights

Financial Highlights

Financial Highlights