SEC Info - Huntington Funds - ‘N-Q’ for 9/30/05

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Huntington Funds – ‘N-Q’ for 9/30/05

On: Tuesday, 11/29/05, at 2:56pm ET · Effective: 11/29/05 · For: 9/30/05 · Accession #: 1318148-5-695 · File #: 811-05010

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

11/29/05  Huntington Funds                  N-Q         9/30/05    2:214K                                   ReedSmith LLP

Quarterly Schedule of Portfolio Holdings of a Management Investment Company — Form N-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: N-Q         Quarterly Schedule of Portfolio Holdings of a         90±   574K 
                          Management Investment Company                          
 2: EX-99.CERT  Miscellaneous Exhibit                                  3±    13K

N-Q — Quarterly Schedule of Portfolio Holdings of a Management Investment Company
Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (Word, et al.) Exhibits. Certifications pursuant to Rule 30a-2(a) are attached hereto Huntington Schedule of Investments
1	1st Page - Filing Submission
"	Item 1. Schedule of Investments
"	Huntington
"	Item 3. Exhibits. Certifications pursuant to Rule 30a-2(a) are attached hereto


UNITED STATES   
SECURITIES AND EXCHANGE COMMISSION  
Washington, DC 20549  
FORM N-Q  
QUARTERLY SCHEDULE OF PORTFOLIO   
HOLDINGS OF REGISTERED  
MANAGEMENT INVESTMENT COMPANY   

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: September 30, 2005                                    

Item 1. Schedule of Investments.                                                

                                                        [Enlarge/Download Table]


Huntington Florida Tax-Free Money Fund                                                                                            
Portfolio of Investments                                                                                       September 30, 2005 
(Unaudited)                                                                                                                       

       Principal           Security                                                                                               
       Amount or Shares    Description                                                                                      Value 

Municipal Bonds  (96.9%):                                                                                                         
Florida  (95.1%):                                                                                                                 
                                                                                                                                  
       $1,050,000          Aluchua County, FL, Health Facilities Authority Revenue, (LOC-                              $1,050,000 
                           Suntrust Bank), 2.820%, 12/1/12 **                                                                     
       100,000             Broward County, FL, Educational Facilities Authority Revenue, (LOC-                            100,000 
                           Bank of America), 2.820%, 4/1/24 **                                                                    
       1,100,000           Broward County, FL, Educational Facilities Authority Revenue,                                1,100,001 
                           (LOC-Citibank N.A.), 2.750%, 11/1/31**                                                                 
       850,000             Broward County, FL, Housing Finance Authority Multifamily                                      850,000 
                           Revenue, (Fannie Mae Ins), 2.750%, 5/15/27 **                                                          
       500,000             Broward County, FL, School District, Series A, Refunding, G.O., 5.000%,                        505,128 
                           2/15/06                                                                                                
       1,000,000           Collier County, FL, Educational Facilities Revenue, (LOC- Fifth Third                        1,000,001 
                           Bank), 2.750%, 4/1/28 **                                                                               
       1,000,000           Collier County, FL, Health Facilities Authority Revenue, (LOC- J.P.                          1,000,000 
                           Morgan Chase), 2.800%, 1/1/35 **                                                                       
       500,000             Dade County, FL, Water & Sewer Systems Revenue, (FGIC Ins),                                    500,000 
                           2.730%, 10/5/22 **                                                                                     
       295,000             Flagler County, FL, Public Improvements, G.O., (MBIA Ins),                                     295,428 
                           3.000%, 7/1/06                                                                                         
       1,000,000           Flagler County, FL, School District Notes, G.O., 3.000%, 6/15/06                             1,002,064 
       150,000             Florida Higher Educational Facilities Financing Authority Revenue, (LOC-                       150,000 
                           Suntrust Bank), 2.820%, 1/1/19 **                                                                      
       250,000             Florida State Board of Education (LOC- J.P. Morgan Chase), 4.000%,                             252,200 
                           6/1/06                                                                                                 
       1,000,000           Gulf Coast University, FL, Capital Improvements Revenue, (LOC-                               1,000,000 
                           Wachovia Bank), 2.790%, 12/1/33 **                                                                     
       400,000             Halifax, FL, Health Care Facilities Revenue, (LOC-Bank of America                              400,000 
                           N.A.), 2.770%, 12/1/13 **                                                                              
       200,000             Highlands County, FL, Infrastructure Sales Surtax Revenue, (AMBAC Ins),                        200,109 
                            2.800%, 11/1/05                                                                                       
       500,000             Hillsborough County, FL, Aviation Authority Refunding Revenue, (LOC-                           500,000 
                           General Electric Capital Corp.), 2.820%, 12/1/30 **                                                    
       500,000             Indian River County, FL, School Board Revenue, BAN, 3.000%, 12/23/05                           501,114 
       1,100,000           Jacksonville, FL, Electric Authority Revenue, Series B, (LOC-Bank of                         1,100,000 
                           America), 2.760%, 10/1/34 **                                                                           
       200,000             Jacksonville, FL, Health Facilities Authority Revenue, (LOC- Bank of                           200,000 
                           America), 2.820%, 8/15/33 **                                                                           
       1,000,000           Jacksonville, FL, Health Facilities Authority Revenue, (MBIA Ins),                           1,000,000 
                           2.720%, 8/15/19 **                                                                                     
       300,000             Jacksonville, FL, Health Facilities Authority Revenue, Genesis                                 300,000 
                           Rehabilitation Hospital, (LOC-Bank of America), 2.820%, 5/1/21 **                                      
       155,000             Lauderhill, FL, Water & Sewer Refunding Revenue, (FSA Ins),                                    155,000 
                           3.375%, 10/1/05                                                                                        
       700,000             Maitland, FL, G.O., (MBIA Ins), 3.000%, 7/1/06                                                 702,150 
       615,000             Manatee County, FL, Public Improvements Revenue, (FGIC Ins),                                   615,000 
                           2.000%, 10/1/05                                                                                        
       700,000             Orange County, FL, Health Facilities Authority Revenue, (LOC-Suntrust                          700,000 
                           Bank), 2.780%, 11/15/14 **                                                                             
       200,000             Orange County, FL, School Board, Certificate Participation, Series B,                          200,000 
                           (MBIA Ins), 2.800%, 8/1/27 **                                                                          
       1,100,000           Orlando & Orange County, FL, Expressway Revenue, 2.700%, 7/1/25**                            1,100,000 
       900,000             Palm Beach County, FL, Educational Facility Authority Revenue,                                 900,000 
                           (LOC-Bank of America), 2.800%, 12/1/31 **                                                              
       500,000             Palm Beach County, FL, Housing Finance Authority Revenue,                                      500,000 
                           (LOC-Credit Suisse First Boston), 2.750%, 11/1/07 **                                                   
       200,000             Palm Beach County, FL, Revenue, (LOC-Northern Trust Company),                                  200,000 
                           2.790%, 5/1/25 **                                                                                      
       1,050,000           Palm Beach County, FL, Revenue, (LOC-Northern Trust Company),                                1,050,000 
                           2.790%, 3/1/30 **                                                                                      
       700,000             Palm Beach County, FL, Revenue, Henry Morrison Flagler Project,                                700,000 
                           (LOC-Northern Trust Company), 2.790%, 11/1/36 **                                                       
       600,000             Palm Beach County, FL, School Board Certificate Participation, Series                          600,000 
                           B, (FSA Ins), 2.740%, 8/1/27 **                                                                        
       700,000             Pinellas County, FL, Health Facilities Authority Refunding                                     700,000 
                           Revenue, (AMBAC Ins), 2.830%, 12/1/15 **                                                               
       700,000             Sarasota County, FL, Hospital Improvements Revenue, Series A,                                  700,000 
                           (AMBAC Ins), 2.950%, 7/1/37 **                                                                         
       800,000             The University of North Florida Foundation, Inc., (LOC-First Union                             800,000 
                           National Bank), 2.820%, 5/1/28 **                                                                      
       100,000             Volusia County, FL, Housing Finance Authority Refunding                                        100,000 
                                                                                                                          ------- 
                           Revenue, (Fannie Mae Ins), 2.760%, 1/15/32 **                                                          
                                                                                                                       22,728,195 
                                                                                                                       ---------- 
Ohio  (1.6%):                                                                                                                     
       130,000             Canal Winchester, OH, Local School District, Series A, Refunding, G.O.,                        130,084 
                           (FSA Ins), 3.000%, 12/1/05                                                                             
       240,000             Southwest Licking, OH, Local School District, G.O., (FGIC Ins), 7.100%,                        246,732 
                                                                                                                          ------- 
                           12/1/16                                                                                        376,816 
                                                                                                                       ---------- 

Washington  (0.2%):                                                                                                               
       50,000              Spokane, WA, Refunding, G.O., (FGIC Ins), 3.000%, 12/1/05                                       50,040 
                                                                                                                           ------ 
Total Municipal Bonds (Cost $23,155,051)                                                                               23,155,051 
                                                                                                                       ---------- 

Cash Equivalent  (3.0%):                                                                                                          
       708,526             Fidelity Institutional Tax-Exempt Fund**                                                       708,526 
                                                                                                                          ------- 
Total Cash Equivalent (Cost $708,526)                                                                                     708,526 
                                                                                                                          ------- 

Total Investments (Cost $23,863,577) (a)   -   99.9%                                                                   23,863,577 
Other Assets in Excess of Liabilities   -   0.1%                                                                           35,797 
                                                                                                                           ------ 

NET ASSETS   -   100.0%                                                                                               $23,899,374 
                                                                                                                       ========== 
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington Money Market Fund                                                                                                      
Portfolio of Investments                                                                                       September 30, 2005 
(Unaudited)                                                                                                                       

     Principal             Security                                                                                               
     Amount or Shares      Description                                                                                      Value 

U.S. Government Agencies (87.1%): Federal Agricultural Mortgage Corporation (11.5%):                                              
     $20,000,000           3.500%, 10/28/05                                                                           $19,947,500 
     20,000,000            3.640%, 11/28/05                                                                            19,882,711 
     15,000,000            3.720%, 12/19/05                                                                            14,877,550 
     15,000,000            3.790%, 12/29/05                                                                            14,859,640 
     15,000,000            3.760%, 12/30/05                                                                            14,859,000 
                                                                                                                       ---------- 
                                                                                                                       84,426,401 
                                                                                                                       ---------- 
Federal Farm Credit Bank  (12.8%):                                                                                                
     26,000,000            3.450%, 10/5/05                                                                             25,990,033 
     18,000,000            3.570%, 10/14/05                                                                            17,976,795 
     20,000,000            3.580%, 10/18/05                                                                            19,966,189 
     15,000,000            3.590%, 10/31/05                                                                            14,955,125 
     15,000,000            3.570%, 11/18/05                                                                            14,928,600 
                                                                                                                       ---------- 
                                                                                                                       93,816,742 
                                                                                                                       ---------- 
Federal Home Loan Bank  (24.1%):                                                                                                  
     15,000,000            3.560%, 10/7/05                                                                             14,991,113 
     25,000,000            3.560%, 10/11/05                                                                            24,975,278 
     15,000,000            3.520%, 10/21/05                                                                            14,970,667 
     15,000,000            3.540%, 10/26/05                                                                            14,963,177 
     15,000,000            3.540%, 11/4/05                                                                             14,949,850 
     17,000,000            3.590%, 11/14/05                                                                            16,925,408 
     15,000,000            3.650%, 11/23/05                                                                            14,919,396 
     15,000,000            3.800%, 12/23/05                                                                            14,868,410 
     10,000,000            3.625%, 6/14/06                                                                             10,000,000 
     35,000,000            3.440% - 3.520%, 10/3/05                                                                    34,993,221 
                                                                                                                       ---------- 
                                                                                                                      176,556,520 
                                                                                                                       ---------- 
Federal Home Loan Mortgage Corporation  (28.4%):                                                                                  
     15,000,000            3.390%, 10/4/05                                                                             14,995,763 
     15,000,000            3.420%, 10/11/05                                                                            14,985,750 
     15,000,000            3.440%, 10/18/05                                                                            14,975,633 
     15,000,000            3.570%, 10/31/05                                                                            14,955,375 
     5,796,000             3.550%, 11/3/05                                                                              5,777,139 
     13,850,000            3.640%, 11/8/05                                                                             13,796,785 
     19,000,000            3.590%, 11/15/05                                                                            18,914,738 
     15,000,000            3.650%, 11/21/05                                                                            14,922,438 
     15,000,000            3.590%, 11/22/05                                                                            14,922,217 
     10,000,000            3.590%, 11/29/05                                                                             9,941,164 
     10,000,000            3.660%, 12/13/05                                                                             9,925,783 
     15,000,000            3.720%, 12/20/05                                                                            14,876,000 
     15,000,000            3.800%, 12/27/05                                                                            14,862,250 
     30,000,000            3.480% - 3.670%, 10/25/05                                                                   29,928,499 
                                                                                                                       ---------- 
                                                                                                                      207,779,534 
                                                                                                                       ---------- 
Federal National Mortgage Association  (10.3%):                                                                                   
     15,000,000            3.430%, 10/12/05                                                                            14,984,279 
     15,000,000            3.490%, 10/17/05                                                                            14,976,733 
     15,000,000            3.460%, 10/19/05                                                                            14,974,050 
     30,550,000            3.410% - 3.460%, 10/5/05                                                                    30,538,339 
                                                                                                                       ---------- 
                                                                                                                       75,473,401 
Total U.S. Government Agencies (Cost $638,052,598)                                                                    638,052,598 
                                                                                                                      ----------- 

Commercial Papers  (5.4%):                                                                                                        
     20,000,000            Bank of America Corp., 3.860%, 11/30/05                                                     19,871,333 
     20,000,000            Morgan Stanley Dean Witter & Co., 3.900%, 10/3/05                                           19,995,667 
                                                                                                                       ---------- 
Total Commercial Papers (Cost $39,867,000)                                                                             39,867,000 
                                                                                                                       ---------- 

Repurchase Agreement  (7.0%):                                                                                                     
     50,926,900            Morgan Stanley Dean Witter & Co., 3.680%, dated 9/30/05,                                    50,926,900 
                                                                                                                       ---------- 
                           Due 10/3/05, repurchase price $50,942,518 (Fully                                                       
                           Collateralized by U.S. Treasury securities)                                                            
Total Repurchase Agreement (Cost $50,926,900)                                                                          50,926,900 
                                                                                                                       ---------- 

Cash Equivalent  (0.7%):                                                                                                          
     5,000,000             Meeder Institutional Money Market Fund                                                       5,000,000 
                                                                                                                        --------- 
Total Cash Equivalent (Cost $5,000,000)                                                                                 5,000,000 
                                                                                                                        --------- 

Total Investments (Cost $733,846,498) (a)   -   100.2%                                                                733,846,498 
Liabilities in Excess of Other Assets   -   (0.2)%                                                                    (1,734,903) 
                                                                                                                      ----------- 

NET ASSETS   -   100.0%                                                                                              $732,111,595 
                                                                                                                      =========== 
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington Ohio Municipal Money Market Fund                                                                                       
Portfolio of Investments                                                                                       September 30, 2005 
(Unaudited)                                                                                                                       

     Principal             Security                                                                                               
     Amount or Shares      Description                                                                                      Value 

Municipal Bonds  (92.7%):                                                                                                         
     $2,500,000            Akron, OH, Hospital District Revenue, Series B, (LOC-Bank One                               $2,500,000 
                           N.A.), 2.780%, 11/1/34 **                                                                              
     2,000,000             Ashland, OH, Various Purpose Improvement Notes, G.O., 4.000%,                                2,012,552 
                           5/25/06                                                                                                
     900,000               Beaver Creek, OH, G.O., BAN, 2.750%, 12/28/05                                                  901,060 
     1,200,000             Bexley, OH, G.O., BAN, 3.250%, 5/4/06                                                        1,202,403 
     150,000               Brunswick OH, G.O., 5.000%, 12/1/05                                                            150,650 
     1,990,000             Brunswick, OH, Storm Water Drainage Systems Notes, G.O.,                                     2,005,546 
                           4.250%, 5/24/06                                                                                        
     1,000,000             Brunswick, OH, Water Distribution Systems Improvement Notes, G.O.,                           1,001,531 
                           4.000%, 11/22/05                                                                                       
     800,000               Butler County, OH, Hospital Facilities Revenue, (Middletown                                    800,000 
                           Regional Hospital), (LOC - Bank One N.A.), 2.770%, 11/1/10 **                                          
     2,200,000             Canal Winchester, OH, Local School District, G.O., 2.750%, 12/21/05                          2,202,144 
     1,800,000             Cincinnati & Hamilton County, OH, Port Authority,Revenue, Kenwood                            1,800,000 
                           Office Associate Project, (LOC-Fifth Third Bank), 2.890%, 9/1/25 **                                    
     2,000,000             Cleveland, OH, Airport System Revenue, (FSA Ins), 2.770%, 1/1/31**                           2,000,000 
     1,000,000             Cleveland, OH, Cuyahoga County Port Authority Revenue, 2.780%,                               1,000,000 
                           1/1/34 **                                                                                              
     1,950,000             Cleveland, OH, Waterworks Revenue, (FGIC Ins), 2.750%, 1/1/33**                              1,950,000 
     100,000               Columbus, OH, Airport Authority Revenue, (LOC- U.S. Bank), 2.770%,                             100,000 
                           7/1/35 **                                                                                              
     260,000               Columbus, OH, G.O., (Westdeutsche Landesbank Ins),                                             260,000 
                           2.720%, 12/1/17 **                                                                                     
     5,350,000             Columbus, OH, Regulation Airport Authority Revenue, (LOC- U.S.                               5,350,000 
                           Bank), 2.770%, 3/1/34 **                                                                               
     2,260,000             Columbus, OH, Regulation Airport Authority Revenue, Series A,                                2,260,000 
                           (LOC-U.S. Bank N.A.), 2.770%, 1/1/30 **                                                                
     3,700,000             Columbus, OH, Sewer Improvements Refunding Revenue,                                          3,700,000 
                           2.750%, 6/1/11 **                                                                                      
     2,000,000             Cuyahoga County, OH, Cleveland Clinic, Various Revenue, Subseries                            2,000,000 
                           B1, 2.860%, 1/1/39 **                                                                                  
     850,000               Dover, OH, Sewer Improvements, G.O., 2.100%, 10/20/05                                          850,108 
     1,000,000             Dublin, OH, City School District, G.O., BAN, 2.120%, 10/13/05                                1,000,106 
     520,000               Fairfield County, OH, G.O., BAN, 2.700%, 12/15/05                                              520,469 
     2,000,000             Fairfield County, OH, Wastewater Systems, G.O., BAN, 4.000%,                                 2,016,805 
                           8/30/06                                                                                                
     900,000               Fairfield County, OH, Water System Improvements, G.O., BAN, 3.300%,                            902,918 
                           4/6/06                                                                                                 
     100,000               Fairfield County, OH, Local School District, G.O., (AMBAC Ins), 3.000%, 12/1/05                100,098 
     3,030,000             Franklin County, OH, Hospital Revenue, 2.740%, 12/1/20 **                                    3,030,000 
     1,795,000             Franklin County, OH, Hospital Revenue, (Doctors Ohio Health),                                1,795,000 
                           Series B, (LOC-National City Bank), 2.750%, 12/1/28 **                                                 
     4,025,000             Franklin County, OH, Hospital Revenue, Ohio Health Corp., Series                             4,025,000 
                           D, (LOC-National City Bank), 2.750%, 7/1/29 **                                                         
     6,000,000             Franklin County, OH, Hospital Revenue, U.S. Health Corp., Series                             6,000,000 
                           A, (LOC-Citibank N.A.), 2.740%, 12/1/21 **                                                             
     3,000,000             Franklin County, OH, Industrial Development Revenue, (LOC-Bank                               3,000,000 
                           One), 2.730%, 11/1/14 **                                                                               
     510,000               Franklin County, OH, Revenue, Series C-2, (FGIC Ins), 2.750%,                                  510,000 
                           12/1/38 **                                                                                             
     600,000               Geauga County, OH, Library Administration, G.O., 3.000%, 3/2/06                                601,339 
     1,040,000             Greene County, OH, G.O., BAN, .500%, 8/16/06                                                 1,044,584 
     425,000               Greene County, OH, G.O., BAN, Series A, (Various), 3.000%, 2/23/06                             425,989 
     600,000               Hamilton County Hospital, Ohio, Hospital Facilities Revenue, 2.750%,                           600,000 
                           5/15/28 **                                                                                             
     3,000,000             Hamilton County, OH, Economic Development Revenue, (LOC-Fifth                                3,000,000 
                           Third Bank), 2.770%, 11/1/21 **                                                                        
     2,300,000             Hamilton County, OH, Economic Development Revenue, Xavier High                               2,300,000 
                           School Project, (LOC-Fifth Third Bank), 2.750%, 4/1/28 **                                              
     15,145,000            Hamilton County, OH, Hospital Facilities Revenue, 2.750%, 5/15/28**                         15,144,999 
     4,285,000             Hamilton County, OH, Hospital Facilities Revenue,  Health Alliance,                          4,285,000 
                           Series F, 2.750%, 1/1/18 **                                                                            
     6,900,000             Hamilton County, OH, Hospital Facilities Revenue, Health Alliance,                           6,900,000 
                           Series B, (MBIA Ins), 2.750%, 1/1/18**                                                                 
     2,250,000             Hamilton County, OH, Hospital Facilities Revenue, Series A, (LOC-JP                          2,250,000 
                            Morgan Chase Bank), 2.750%, 6/1/27**                                                                  
     2,000,000             Hamilton County, OH, Industrial Development Revenue, 2.650%,                                 2,000,000 
                           10/15/12 **                                                                                            
     2,900,000             Hamilton County, OH, Parking Facility Improvements Revenue,                                  2,900,000 
                           (LOC-U.S. Bank), 2.760%, 12/1/26**                                                                     
     2,000,000             Huron County, OH, Hospital Facilities Revenue, (Fisher-Titus                                 2,000,000 
                           Medical Center), Series A, (LOC-National City Bank), 2.770%,                                           
                           12/1/27 **                                                                                             
     1,675,000             Kent State University, OH, Ohio Universities Revenue, (General                               1,675,000 
                           Receipts), (MBIA Ins), 2.790%, 5/1/31**                                                                
     800,000               Lucas County, OH, Health Care Facilities Refunding Revenue,                                    800,000 
                           (Sunset Retirement Communities),                                                                       
                           Series B, (LOC-Fifth Third Bank), 2.740%, 8/15/30 **                                                   
     750,000               Mason, OH, City School District, G.O., 3.500%, 2/9/06                                          753,104 
     1,925,000             Mason, OH, Public Improvements, G.O., BAN, 4.000%, 6/29/06                                   1,943,087 
     1,450,000             Montgomery County, OH, Health Services, Miami Valley Hospital                                1,450,000 
                           Revenue, Series A (LOC-National City Bank), 2.810%, 11/15/22 **                                        
     1,510,000             Oakwood, OH, G.O., BAN, 2.600%, 12/8/05                                                      1,510,412 
     1,125,000             Ohio State Air Quality Development Authority Refunding Revenue, Timken                       1,125,000 
                            Project, (LOC-Fifth Third Bank), 2.850%, 11/1/25 **                                                   
     1,650,000             Ohio State Air Quality Development Authority Revenue, Ohio Edison                            1,650,000 
                           Project, Series A, 2.750%, 2/1/14 **                                                                   
     2,500,000             Ohio State Air Quality Development Authority, G.O., Series B, 2.740%,                        2,500,000 
                           3/15/25 **                                                                                             
     3,150,000             Ohio State Higher Education Facilities Commission Revenue, John                              3,150,000 
                            Carroll, Series B, (LOC-Allied Irish Bank PLC), 2.770%, 2/1/32 **                                     
     185,000               Ohio State Higher Education Facilities Common Revenue, (Various                                185,000 
                            Higher Educational - Pooled Financing                                                                 
                            PG), (LOC-Fifth Third Bank), 2.830%, 9/1/24 **                                                        
     2,355,000             Ohio State Higher Education Facilities Revenue, (LOC- Fifth Third                            2,355,000 
                           Bank), 2.830%, 9/1/25 **                                                                               
     1,500,000             Ohio State Higher Education Facilities Revenue, John Carroll                                 1,500,000 
                           University, (LOC-Allied Irish Bank PLC), 2.770%, 11/15/31 **                                           
     3,700,000             Ohio State Higher Education Facilities Revenue, Xavier University,                           3,700,000 
                           (LOC-Fifth Third Bank), 2.750%, 11/1/30 **                                                             
     1,400,000             Ohio State Higher Education Facilities, (LOC-Fifth Third Bank),                              1,400,000 
                           2.780%, 9/1/27 **                                                                                      
     1,000,000             Ohio State Higher Education, G.O., 3.000%, 2/1/06                                            1,002,060 
     2,600,000             Ohio State Higher Educational Facilities Revenue, Marietta College                           2,600,000 
                           Project, 2.770%, 12/1/24 **                                                                            
     3,060,000             Ohio State University General Receipts Revenue, (Various), 2.590%,                           3,060,000 
                            12/1/27 **                                                                                            
     600,000               Ohio State University General Receipts Revenue, (Various), 2.590%,                             600,000 
                           12/1/17 **                                                                                             
     2,000,000             Ohio State University, Infrastructure Improvements, Series B, G.O.,                          2,000,000 
                           2.750%, 8/1/17 **                                                                                      
     5,000,000             Ohio State University, School Improvements, G.O., Series A,                                  5,000,000 
                           2.750%, 3/15/25 **                                                                                     
     550,000               Ohio State Water Development Authority Refunding Revenue,                                      550,000 
                           (LOC-Wachovia Bank), 2.780%, 5/1/07 **                                                                 
     400,000               Ohio State Water Development Authority Revenue, (Various) (MBIA                                400,000 
                           Ins), 2.750%, 12/1/18 **                                                                               
     245,000               Pickerington, OH, G.O., 3.000%, 3/9/06                                                         245,572 
     475,000               Richland County, OH, Bridge & Road Improvement, G.O., 4.000%, 8/8/06                           479,127 
     100,000               Richland County, OH, G.O., 2.500%, 12/1/05                                                     100,066 
     200,000               Sandusky County, OH, G.O., BAN, 2.200%, 11/30/05                                               200,000 
     4,275,000             Scioto County, OH, Hospital Revenue, VHA Center Inc., Capital                                4,275,000 
                           Assets, Series G, 2.750%, 12/1/25**                                                                    
     500,000               State Air Quality Development Authority, Revenue, 2.820%, 6/1/23**                             500,000 
     2,925,000             Toledo, OH, City Services, Special Assessment, (LOC-State Street                             2,925,001 
                           Bank), 2.750%, 6/1/07 **                                                                               
     3,350,000             University Akron, OH, General Receipts Revenue, (FGIC Ins),                                  3,350,001 
                           2.750%, 1/1/29 **                                                                                      
     2,300,000             University of Cincinnati, OH, General Receipts Revenue, BAN,                                 2,314,189 
                           Series C, 4.000%, 3/28/06                                                                              
     6,990,000             University of Cincinnati, OH, General Receipts Revenue, Series B,                            6,990,000 
                           (Various), (AMBAC Ins), 2.750%, 6/1/31 **                                                              
     175,000               Warren County, OH, Sewer Improvement, P&G Co./Lower Miami,                                     177,468 
                           G.O., 5.250%, 12/1/08                                                                                  
     275,000               Wilmington, OH, G.O., BAN, 3.750%, 9/29/06                                                     276,722 
                                                                                                                          ------- 
Total Municipal Bonds (Cost $163,140,110)                                                                             163,140,110 
                                                                                                                      ----------- 

Commercial Paper  (6.2%):                                                                                                         
     5,000,000             Cuyahoga County, OH, Cleveland Clinic, 2.800%, 1/6/06                                        5,000,000 
     6,000,000             Ohio State University, OH, 2.500%, 10/6/05                                                   6,000,000 
                                                                                                                        --------- 
Total Commercial Paper (Cost $11,000,000)                                                                              11,000,000 
                                                                                                                       ---------- 

Cash Equivalent  (1.2%):                                                                                                          
     2,098,285             Fidelity Institutional Tax-Exempt Fund                                                       2,098,285 
                                                                                                                        --------- 
Total Cash Equivalent (Cost $2,098,285)                                                                                 2,098,285 
                                                                                                                        --------- 

Total Investments (Cost $176,238,395) (a)   -   100.1%                                                                176,238,395 
Liabilities in Excess of Other Assets   -   (0.1)%                                                                      (131,490) 
                                                                                                                        --------- 

NET ASSETS   -   100.0%                                                                                              $176,106,905 
                                                                                                                      =========== 
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington U.S.                                                                                                                   
Treasury Money Market Fund                                                                                                        
Portfolio of Investments                                                                                                          
September 30, 2005                                                                                                                
(Unaudited)                                                                                                                       

   Principal      Security                                                                                                        
   Amount         Description                                                       Value                                         

U.S. Treasury Bills  (57.9%):                                                                                                     
   $25,000,000    3.280%, 10/6/05                                             $24,988,617                                         
   10,000,000     3.420%, 1/12/06                                               9,902,164                                         
   30,000,000     3.090% - 3.110%, 10/13/05                                    29,969,005                                         
   25,000,000     3.220% - 3.380%, 12/1/05                                     24,860,912                                         
   25,000,000     3.230% - 3.330%, 10/20/05                                    24,956,820                                         
   25,000,000     3.270% - 3.320%, 10/27/05                                    24,940,583                                         
   20,000,000     3.300% - 3.360%, 11/3/05                                     19,937,914                                         
   25,000,000     3.300% - 3.430%, 12/15/05                                    24,824,063                                         
   20,000,000     3.340% - 3.390%, 12/29/05                                    19,833,595                                         
   25,000,000     3.340% - 3.410%, 11/17/05                                    24,889,563                                         
   30,000,000     3.350% - 3.380%, 12/8/05                                     29,809,577                                         
   25,000,000     3.360% - 3.420%, 11/10/05                                    24,905,722                                         
   35,000,000     3.370% - 3.450%, 11/25/05                                    34,818,079                                         
   30,000,000     3.390% - 3.470%, 12/22/05                                    29,764,284                                         
   25,000,000     3.450% - 3.520%, 1/19/06                                     24,733,097                                         
                                                                               ----------                                         
Total U.S. Treasury Bills (Cost $373,133,995)                                 373,133,995                                         
                                                                              -----------                                         

Repurchase Agreements  (42.4%):                                                                                                   
   30,000,000     Bear Stearns, 3.580%, dated                                  30,000,000                                         
                  9/29/05, due 10/6/05, repurchase price                                                                          
                   $30,020,833 (Fully collateralized by                                                                           
                  U.S. Treasury securities)                                                                                       
   20,000,000     Bear Stearns, 3.600%, dated                                  20,000,000                                         
                  9/28/05, due 10/5/05, repurchase price                                                                          
                   $20,014,000 (Fully collateralized by                                                                           
                  U.S. Treasury securities)                                                                                       
   50,000,000     Credit Suisse First Boston, 3.600%,                          50,000,000                                         
                  dated 9/26/05, due 10/3/05,                                                                                     
                  repurchase price $40,028,000 (Fully                                                                             
                  collateralized by U.S. Treasury                                                                                 
                  securities)                                                                                                     
   50,000,000     J.P. Morgan Chase & Co., 3.000%,                             50,000,000                                         
                  dated 9/30/05, due 10/3/05,                                                                                     
                  repurchase price $50,012,500 (Fully                                                                             
                  collateralized by U.S. Treasury                                                                                 
                  securities)                                                                                                     
   30,000,000     Merrill Lynch & Co., Inc., 3.400%,                           30,000,000                                         
                  dated 9/29/05, due 10/3/05,                                                                                     
                  repurchase price $30,011,333 (Fully                                                                             
                  collateralized by U.S. Treasury                                                                                 
                  securities)                                                                                                     
   53,667,400     Morgan Stanley Dean Witter & Co.,                            53,667,400                                         
                  3.200%, dated 9/30/05, due 10/3/05,                                                                             
                  repurchase price $53,681,711 (Fully                                                                             
                  collateralized by U.S. Treasury                                                                                 
                  securities)                                                                                                     
   40,000,000     The Goldman Sachs Group, Inc.,                               40,000,000                                         
                                                                               ----------                                         
                  3.590%, dated 9/27/05, due 10/4/05,                                                                             
                  repurchase price $40,027,922 (Fully                                                                             
                  collateralized by U.S. Treasury                                                                                 
                  securities)                                                                                                     
Total Repurchase Agreements (Cost $273,667,400)                               273,667,400                                         
                                                                              -----------                                         

Total Investments (Cost $646,801,395) (a)   -   100.3%                        646,801,395                                         
Liabilities in Excess of Other Assets   -   (0.3)%                            (1,634,698)                                         
                                                                              -----------                                         

NET ASSETS   -   100.0%                                                      $645,166,697                                         
                                                                             ------------                                         
See Notes to Portfolio of Investments.                                                                                            

Huntington Dividend Capture Fund                                                                                                  
Portfolio of Investments                                                                                       September 30, 2005 
(Unaudited)                                                                                                                       

     Shares or             Security                                                                                               
     Principal Amount      Description                                                                                      Value 

Common Stocks  (55.3%):                                                                                                           
Consumer Discretionary  (3.5%):                                                                                                   
     36,000                Brunswick Corp.                                                                             $1,358,280 
     17,000                J.C. Penney Co., Inc.                                                                          806,140 
     13,000                Sherwin-Williams Co.                                                                           572,910 
     65,000                The Walt Disney Co.                                                                          1,568,450 
                                                                                                                        --------- 
                                                                                                                        4,305,780 
                                                                                                                       ---------- 
Consumer Staples  (1.0%):                                                                                                         
     42,000                SUPERVALU, Inc.                                                                              1,307,040 
                                                                                                                        --------- 
Energy  (5.1%):                                                                                                                   
     19,000                ChevronTexaco Corp.                                                                          1,229,870 
     33,000                ConocoPhillips                                                                               2,307,030 
     44,000                Exxon Mobil Corp.                                                                            2,795,760 
                                                                                                                        --------- 
                                                                                                                        6,332,660 
                                                                                                                       ---------- 
Financials  (16.8%):                                                                                                              
     30,000                Ace Ltd.                                                                                     1,412,100 
     44,250                Allstate Corp.                                                                               2,446,583 
     45,000                Bank of America Corp.                                                                        1,894,500 
     6,500                 Chubb Corp.                                                                                    582,075 
     36,000                Hartford Financial Services Group, Inc.                                                      2,778,119 
     50,000                Jefferson-Pilot Corp.                                                                        2,558,500 
     60,000                KeyCorp                                                                                      1,935,000 
     30,000                Lincoln National Corp.                                                                       1,560,600 
     37,000                Morgan Stanley Dean Witter & Co.                                                             1,995,780 
     30,000                Safeco Corp.                                                                                 1,601,400 
     48,000                Wachovia Corp.                                                                               2,284,320 
                                                                                                                        --------- 
                                                                                                                       21,048,977 
                                                                                                                       ---------- 
Health Care  (4.2%):                                                                                                              
     86,000                Bristol-Myers Squibb Co.                                                                     2,069,160 
     42,000                PerkinElmer, Inc.                                                                              855,540 
     55,000                Pfizer, Inc.                                                                                 1,373,350 
     20,000                Wyeth                                                                                          925,400 
                                                                                                                          ------- 
                                                                                                                        5,223,450 
                                                                                                                       ---------- 
Industrials  (3.9%):                                                                                                              
     33,000                Burlington Northern Santa Fe Corp.                                                           1,973,400 
     16,000                Deere & Co.                                                                                    979,200 
     47,000                Louisiana-Pacific Corp.                                                                      1,301,430 
     15,000                Raytheon Co.                                                                                   570,300 
                                                                                                                          ------- 
                                                                                                                        4,824,330 
                                                                                                                       ---------- 
Materials  (2.7%):                                                                                                                
     18,000                Georgia Pacific Corp.                                                                          613,080 
     25,000                Inco Ltd.                                                                                    1,183,750 
     44,000                Snap-On, Inc.                                                                                1,589,280 
                                                                                                                        --------- 
                                                                                                                        3,386,110 
                                                                                                                       ---------- 
Real Estate Investment Trusts  (10.1%):                                                                                           
     45,000                Bedford Property Investors, Inc.                                                             1,072,800 
     11,000                Camden Property Trust                                                                          613,250 
     10,000                CBL & Associates Properties, Inc.                                                              409,900 
     35,000                Commercial NET Lease Realty                                                                    700,000 
     7,500                 Entertainment Properties                                                                       334,725 
     35,000                Equity Inns, Inc.                                                                              472,500 
     10,000                Equity Office Properties Trust                                                                 327,100 
     23,000                Equity Residential Properties Trust                                                            870,550 
     23,500                First Industrial Realty Trust, Inc.                                                            941,175 
     40,000                Glenborough Realty Trust, Inc.                                                                 768,000 
     12,000                Health Care Real Estate Investment Trust, Inc.                                                 445,080 
     27,000                Heritage Property Investment                                                                   945,000 
     27,000                Home Properties, Inc.                                                                        1,059,750 
     70,000                HRPT Properties Trust                                                                          868,700 
     7,500                 Kimco Realty Corp.                                                                             235,650 
     30,500                New Plan Excel Realty Trust                                                                    699,975 
     11,000                Parkway Properties, Inc.                                                                       516,120 
     10,000                Simon Property Group, Inc.                                                                     741,200 
     22,000                Thornburg Mortgage, Inc. (d)                                                                   551,320 
                                                                                                                          ------- 
                                                                                                                       12,572,795 
                                                                                                                       ---------- 
Technology  (3.5%):                                                                                                               
     16,500                Emerson Electric Co.                                                                         1,184,700 
     69,000                Intel Corp.                                                                                  1,700,850 
     8,000                 Microsoft Corp.                                                                                205,840 
     60,000                Sabre Holdings Corp., Class A                                                                1,216,800 
                                                                                                                        --------- 
                                                                                                                        4,308,190 
                                                                                                                       ---------- 
Telecommunications  (2.7%):                                                                                                       
     49,000                AT&T Corp.                                                                                     970,200 
     70,000                BellSouth Corp.                                                                              1,841,000 
     23,000                SBC Communications, Inc.                                                                       551,310 
                                                                                                                          ------- 
                                                                                                                        3,362,510 
                                                                                                                       ---------- 
Utilities  (1.8%):                                                                                                                
     22,000                American Electric Power Co., Inc.                                                              873,400 
     45,000                Duke Energy Corp.                                                                            1,312,650 
                                                                                                                        --------- 
                                                                                                                        2,186,050 
Total Common Stocks (Cost $64,625,582)                                                                                 68,857,892 
                                                                                                                       ---------- 

Preferred Stocks  (43.0%):                                                                                                        
Consumer Discretionary  (1.3%):                                                                                                   
     55,000                The Walt Disney Co., 7.000%                                                                  1,416,250 
     10,000                Viacom, Inc., 7.250%                                                                           252,800 
                                                                                                                          ------- 
                                                                                                                        1,669,050 
                                                                                                                       ---------- 
Financials  (29.9%):                                                                                                              
     60,000                ABN Amro Capital Funding Trust V,                                                            1,466,400 
                             5.900%                                                                                               
     80,000                Ace Ltd., Series C, 7.800%                                                                   2,108,000 
     24,800                AMBAC Financial Group, 7.000% (d)                                                              632,896 
     78,900                ASBC Capital I, 7.625%                                                                       2,059,290 
     7,100                 BancWest Capital I, 9.500%                                                                     179,985 
     80,000                Citigroup Capital Trust VIII, 6.950%                                                         2,032,000 
     54,100                Comerica Capital Trust I, 7.600%                                                             1,377,927 
     60,000                Compass Capital, 7.350%                                                                      1,536,000 
     19,400                Everest Re Capital Trust, 7.850%                                                               505,370 
     50,000                Fleet Capital Trust VII, 7.200%                                                              1,275,000 
     29,100                Fleet Capital Trust VIII, 7.200%                                                               746,415 
     10,000                Ford Motor Credit, 7.375%                                                                      198,500 
     80,200                General Electric Capital Corp., 6.100%                                                       2,041,892 
     5,000                 Goldman Sachs Group, Inc., Class A. 3.910%                                                     126,750 
     54,000                Hartford Life Capital II, Series B, 7.625%                                                   1,384,020 
     63,000                J.P. Morgan Chase & Co., Series X,  7.00%                                                    1,619,730 
     60,000                Lehman Brothers Holdings, Inc., 6.500%                                                       1,577,400 
     33,000                Lincoln National Capital V, Series E, 7.650%                                                   849,090 
     70,000                Merrill Lynch Capital Trust V, 7.280%                                                        1,841,000 
     78,000                Morgan Stanley Capital Trust II, 7.250%                                                      2,001,480 
     85,000                National Commerce Capital Trust II, 7.700%                                                   2,192,150 
     40,000                Partnerre Capital Trust I, 7.900%                                                            1,022,800 
     42,300                PLC Capital Trust, 7.250%                                                                    1,097,685 
     6,500                 Provident Financial Group, Inc.,      8.375%                                                   175,370 
     24,900                RenaissanceRe Holdings Ltd., Series B, 7.300%                                                  627,729 
     86,800                SLM Corp., 6.000%                                                                            2,145,696 
     69,000                St. Paul Capital Trust, 7.600% (d)                                                           1,782,960 
     7,000                 Suntrust Capital IV, 7.125%                                                                    179,340 
     6,800                 Torchmark Capital Trust I, 7.750%                                                              176,800 
     86,100                Wells Fargo Capital Trust II, 7.000%                                                         2,193,828 
                                                                                                                        --------- 
                                                                                                                       37,153,503 
                                                                                                                       ---------- 
Health Care  (1.2%):                                                                                                              
     58,600                Aetna, Inc., 8.500%                                                                          1,512,466 
                                                                                                                        --------- 
Real Estate Investment Trusts  (2.4%):                                                                                            
     6,500                 Equity Residential Properties, Series D, 8.600%                                                173,550 
     20,000                HRPT Properties Trust, Series A, 9.875%                                                        514,400 
     9,600                 Prologis Trust, Series F, 6.750%                                                               241,920 
     10,000                Public Storage, Series F, 6.45%                                                                241,500 
     73,400                Public Storage, Series R, 8.000%                                                             1,876,104 
                                                                                                                        --------- 
                                                                                                                        3,047,474 
                                                                                                                       ---------- 
Telecommunications  (0.8%):                                                                                                       
     35,000                SBC Communications, Inc., 7.000%                                                               886,900 
     5,000                 Verizon South, Inc., Series F, 7.000%                                                          127,550 
                                                                                                                          ------- 
                                                                                                                        1,014,450 
                                                                                                                       ---------- 
Utilities  (7.4%):                                                                                                                
     50,100                BGE Capital Trust II, 6.200%                                                                 1,267,530 
     49,500                Consolidated Edison Co., Inc., 7.500%                                                        1,260,765 
     65,000                Dominion CNG Capital Trust I, 7.800%                                                         1,688,050 
     22,000                Energy East Capital Trust I, 8.250%                                                            569,800 
     85,400                Entergy LA, Inc., 7.600%                                                                     2,170,868 
     87,600                Georgia Power Capital, 7.125%                                                                2,256,576 
                                                                                                                        --------- 
                                                                                                                        9,213,589 
Total Preferred Stocks (Cost $54,740,607)                                                                              53,610,532 
                                                                                                                       ---------- 

Mutual Funds  (0.8%):                                                                                                             
Exchange Traded Funds  (0.8%):                                                                                                    
     50,000                AMEX Technology SPDR (d)                                                                     1,045,000 
                                                                                                                        --------- 
Total Mutual Funds (Cost $795,932)                                                                                      1,045,000 
                                                                                                                        --------- 

Cash Equivalent  (0.4%):                                                                                                          
     478,300               Huntington Money Market Fund, Interfund Shares *                                               478,300 
                                                                                                                          ------- 
Total Cash Equivalent (Cost $478,300)                                                                                     478,300 
                                                                                                                          ------- 

Shares or Principal                                                                                                               
Amount                                                                                                                      Value 

Short-Term Securities Held as Collateral                                                                                          
for Securities Lending (1.6%)                                                                                                     

Commerical Paper (0.2%):                                                                                                          
$  70,927                  Cafco LLC, 3.74%, 11/21/2005                                                                   70,927  
   70,927                  Ford Credit Floor Plan Master Owner Trust A, 2002-1 Motown,                                    70,927  
                           3.82%, 11/18/2005                                                                                      
   28,568                  Nieuw Amsterdam Receivables Corp., 3.74%, 11/22/2005                                           28,568  
   35,857                  Nieuw Amsterdam Receivables Corp., 3.87%, 12/21/2005                                           35,857  
   49,058                  Three Pillars Funding LLC, 3.70%, 10/14/2005                                                   49,058  
   29,947                  Three Pillars Funding LLC, 3.80%, 10/28/2005                                                   29,947  
                                                                                                                       ---------- 
                                                                                                                         285,284  
                                                                                                                       ---------- 

Mutual Fund (0.0%):                                                                                                               
985                        JP Morgan Institutional Prime Money Market Fund, 3.61%, 10/03/2005                                985  

Repurchase Agreements (0.6%):                                                                                                     
283,708                    JP Morgan Chase & Co., 3.88%, 10/03/2005                                                      283,708  
141,854                    JP Morgan Chase & Co., 3.88%, 10/03/2005                                                      141,854  
293,559                    UBS Securities LLC, 3.90%, 10/03/2005                                                         293,559  
                                                                                                                       ---------- 
                                                                                                                         719,121  
                                                                                                                       ---------- 
Time Deposit (0.0%)                                                                                                               
42,556                     Wells Fargo & Co., 3.94%, 10/03/2005                                                           42,559  
                                                                                                                       ---------- 

Variable Rate Obligations (0.8%):                                                                                                 
70,730                     Bank One Issuance Trust Class A, 2004-4, 3.81%, 10/17/2005                                     70,730  
42,556                     Bank One Issuance Trust Class A, 2003-1, 3.82%, 10/17/2005                                     42,556  
48,467                     Citibank Credit Card Issuance Trust, Class 2002-A9, Series 2000,                               48,467  
                           3.89%, 12/15/2005                                                                                      
22,657                     Chase Credit Card Owner Trust Class A, 2004-2, 3.81%, 10/17/2005                               22,657  
70,927                     Chase Credit Card Owner Trust Class A, 2004-2, 3.81%, 10/17/2005                               70,927  
35,463                     Chase Credit Card Master Trust Class A, 2001-2, 3.81%, 10/17/2005                              35,463  
61,076                     Chase Credit Card Owner Trust Class A, 2001-1, 3.81%, 10/17/2005                               61,076  
17,929                     Chase Credit Card Owner Trust Class A, 2003-1, 3.81%, 10/17/2005                               17,929  
14,776                     Chase Credit Card Owner Trust Class A, 2003-1, 3.82%, 10/17/2005                               14,776  
42,556                     Chase Credit Card Owner Trust Class A, 2003-1, 3.83%, 10/17/2005                               42,556  
39,207                     Daimler Chrysler Master Owner Trust, 2003-A, 3.82%, 10/17/2005                                 39,207  
35,463                     Deutsche Bank AG, 4.07%, 10/03/2005                                                            35,463  
35,463                     Discover Card Master Trust Class A, 2003-1, 3.83%, 10/17/2005                                  35,463  
38,222                     Discover Card Master Trust Class A, 2001-2, 3.82%, 10/17/2005                                  38,222  
13,397                     General Electric Co., 4.15%, 7/15/2006                                                         13,397  
70,927                     HBOS Treasury Services PLC, 4.04%, 12/30/2005                                                  70,927  
70,927                     JP Morgan Securities, Inc., 3.92%, 12/02/2005                                                  70,927  
14,185                     MBNA Master Credit Card Trust II Class A, 1997-K, 3.81%, 10/17/2005                            14,185  
85,112                     MBNA Master Credit Card Trust II Class A, 2000-K, 3.64%, 10/17/2005                            85,112  
56,742                     Merril Lynch & Co., Inc., 3.90%, 12/15/2005                                                    56,742  
35,463                     Merril Lynch & Co., Inc., 4.07%, 10/03/2005                                                    35,463  
                                                                                                                       ---------- 
                                                                                                                         922,245  
                                                                                                                       ---------- 

Total Short-Term Securities Held as Collateral For                                                                                
Securities Lending (Cost $1,970,194)                                                                                    1,970,194 
                                                                                                                       ---------- 

Total Investments (Cost $122,610,615) (a)   -   101.1%                                                                125,961,918 
Liabilities in Excess of Other Assets   -   (1.1)%                                                                    (1,386,044) 
                                                                                                                      ----------- 

NET ASSETS   -   100.0%    $                                                                                          124,575,874 
                                                                                                                      =========== 
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington Growth Fund                                                                                                            
Portfolio of Investments September 30, 2005                                                                                       
(Unaudited)                                                                                                                       

     Security                                                                                                                     
     Shares              Description                                                   Value                                      

Common Stocks  (98.2%):                                                                                                           
Consumer Discretionary  (8.4%):                                                                                                   
     52,000              Carnival Corp.                                           $2,598,960                                      
     1,805               Fortune Brands, Inc.                                        146,801                                      
     193,200             Home Depot, Inc.                                          7,368,647                                      
     122,000             Kohl's Corp. (b)                                          6,121,960                                      
     6,200               McGraw-Hill Cos., Inc.                                      297,848                                      
     65,300              Media General, Inc.                                       3,788,053                                      
     4,630               Reebok International Ltd.                                   261,919                                      
     5,000               Target Corp.                                                259,650                                      
     50,000              Time Warner, Inc.                                           905,500                                      
     2,315               V.F. Corp.                                                  134,201                                      
     15,000              Viacom, Inc.                                                495,150                                      
                                                                                     -------                                      
                                                                                  22,378,689                                      
                                                                                  ----------                                      
Consumer Staples  (15.6%):                                                                                                        
     65,000              Anheuser Busch Cos., Inc.                                 2,797,600                                      
     8,250               Church & Dwight Co., Inc.                                   304,755                                      
     75,000              Colgate-Palmolive Co.                                     3,959,250                                      
     16,340              Constellation Brands, Inc. (b)                              424,840                                      
     14,850              CVS Corp.                                                   430,799                                      
     8,960               Dean Foods Co. (b)                                          348,186                                      
     4,945               General Mills, Inc.                                         238,349                                      
     7,830               PepsiCo, Inc.                                               444,039                                      
     38,000              Procter & Gamble Co.                                      2,259,480                                      
     398,600             SYSCO Corp.                                              12,504,081                                      
     248,600             Walgreen Co.                                             10,801,670                                      
     100,000             William Wrigley Jr. Co.                                   7,188,000                                      
                                                                                   ---------                                      
                                                                                  41,701,049                                      
                                                                                  ----------                                      
Energy  (12.9%):                                                                                                                  
     165,000             Anadarko Petroleum Corp.                                 15,798,750                                      
     5,275               Apache Corp.                                                396,786                                      
     58,930              Exxon Mobil Corp.                                         3,744,412                                      
     1,270               FPL Group, Inc.                                              60,452                                      
     35,000              Kinder Morgan, Inc.                                       3,365,600                                      
     56,300              Occidental Petroleum Corp.                                4,809,709                                      
     20,000              Overseas Shipholding Group, Inc.                          1,166,600                                      
     60,000              Schlumberger, Ltd.                                        5,062,800                                      
                                                                                   ---------                                      
                                                                                  34,405,109                                      
                                                                                  ----------                                      
Financials  (4.3%):                                                                                                               
     94,000              American Express Co.                                      5,399,361                                      
     300                 Bank of America Corp.                                        12,630                                      
     43                  Berkshire Hathaway, Inc. (b)                              3,526,000                                      
     55,125              Cincinnati Financial Corp.                                2,309,186                                      
     500                 Hartford Financial Services Group, Inc.                      38,585                                      
     4,140               Prudential Financial, Inc.                                  279,698                                      
                                                                                     -------                                      
                                                                                  11,565,460                                      
                                                                                  ----------                                      
Health Care  (21.3%):                                                                                                             
     110,000             Abbott Laboratories                                       4,664,000                                      
     4,990               Alcon, Inc.                                                 638,121                                      
     74,185              Amgen, Inc. (b)                                           5,910,319                                      
     110,000             Baxter International, Inc.                                4,385,700                                      
     8,595               Bristol-Myers Squibb Co.                                    206,796                                      
     25,000              C.R. Bard, Inc.                                           1,650,750                                      
     100,000             Henry Schein, Inc. (b)                                    4,262,000                                      
     40,000              Hospira, Inc. (b)                                         1,638,800                                      
     75,000              Invacare Corp.                                            3,125,250                                      
     137,990             Johnson & Johnson                                         8,732,006                                      
     30,000              Medco Health Solutions, Inc. (b)                          1,644,900                                      
     77,540              Medtronic, Inc.                                           4,157,695                                      
     6,615               Merck & Co., Inc.                                           179,994                                      
     50,000              Millipore Corp. (b)                                       3,144,500                                      
     110,000             Pfizer, Inc.                                              2,746,700                                      
     15,000              Roche Hldgs Ltd.                                          1,045,958                                      
     69,000              Schering-Plough Corp.                                     1,452,450                                      
     40,000              Stryker Corp.                                             1,977,200                                      
     21,130              UnitedHealth Group, Inc.                                  1,187,506                                      
     1,140               Wellpoint, Inc. (b)                                          86,435                                      
     65,000              Wyeth                                                     3,007,550                                      
     18,000              Zimmer Holdings, Inc. (b)                                 1,240,020                                      
                                                                                   ---------                                      
                                                                                  57,084,650                                      
                                                                                  ----------                                      
Industrials  (10.2%):                                                                                                             
     125,000             Avery Dennison Corp.                                      6,548,750                                      
     6,660               Canadian National Railway Co.                               472,793                                      
     2,260               Caterpillar, Inc.                                           132,775                                      
     100,000             Cintas Corp.                                              4,105,000                                      
     930                 General Dynamics Corp.                                      111,182                                      
     280,200             General Electric Co.                                      9,434,334                                      
     70,000              Illinois Tool Works, Inc.                                 5,763,100                                      
     8,370               Ingersoll Rand Co.                                          319,985                                      
     5,415               L-3 Communications Corp.                                    428,164                                      
                                                                                     -------                                      
                                                                                  27,316,083                                      
                                                                                  ----------                                      
Materials  (1.9%):                                                                                                                
     424                 Acco Brands Corp. (b)                                        11,965                                      
     150,000             Ecolab, Inc.                                              4,789,500                                      
     7,390               Praxair, Inc.                                               354,203                                      
                                                                                     -------                                      
                                                                                   5,155,668                                      
                                                                                  ----------                                      
Technology  (22.8%):                                                                                                              
     100,000             Analog Devices, Inc.                                      3,714,000                                      
     6,800               Autodesk, Inc.                                              315,792                                      
     300,000             Automatic Data Processing, Inc.                          12,912,001                                      
     69,000              Cisco Systems, Inc. (b)                                   1,237,170                                      
     81,890              Computer Sciences Corp. (b)                               3,874,216                                      
     79,350              Dell, Inc. (b)                                            2,713,770                                      
     5,060               Diebold, Inc.                                               174,368                                      
     15,585              EMC Corp. (b)                                               201,670                                      
     4,385               Fiserv, Inc. (b)                                            201,140                                      
     152,087             Hewlett Packard Co.                                       4,440,940                                      
     157,885             Intel Corp.                                               3,891,865                                      
     54,000              International Business Machines Corp.                     4,331,880                                      
     75,000              Iron Mountain, Inc. (b)                                   2,752,500                                      
     4,915               Jabil Circuit, Inc. (b)                                     151,972                                      
     270,625             Microsoft Corp.                                           6,963,181                                      
     100,000             Molex, Inc.                                               2,668,000                                      
     8,070               Nokia Corp.                                                 136,464                                      
     355,360             Oracle Corp. (b)                                          4,402,910                                      
     90,000              Qualcomm, Inc.                                            4,027,500                                      
     50,000              Texas Instruments, Inc.                                   1,695,000                                      
                                                                                   ---------                                      
                                                                                  60,806,339                                      
                                                                                  ----------                                      
Telecommunications  (0.8%):                                                                                                       
     1,175               Alltel Corp.                                                 76,504                                      
     82,500              Vodafone Group PLC.                                       2,142,525                                      
                                                                                   ---------                                      
                                                                                   2,219,029                                      
Total Common Stocks (Cost $145,298,937)                                          262,632,076                                      
                                                                                 -----------                                      

Cash Equivalents  (2.0%):                                                                                                         
     5,106,186           Huntington Money Market Fund, Interfund Shares *          5,106,186                                      
     242,532             Meeder Institutional Money Market Fund                      242,532                                      
                                                                                     -------                                      

Total Cash Equivalents (Cost $5,348,718)                                           5,348,718                                      
                                                                                   ---------                                      

Total Investments (Cost $150,647,655) (a)   -   100.2%                           267,980,794                                      
Liabilities in Excess of Other Assets   -   (0.2)%                                 (452,357)                                      
                                                                                   ---------                                      

NET ASSETS   -   100.0%  $                                                       267,528,437                                      
                                                                                 ===========                                      
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington Income Equity Fund                                                                                                     
Portfolio of Investments September 30, 2005                                                                                       
(Unaudited)                                                                                                                       

     Shares or           Security                                                                                                 
     Principal Amount    Description                                                                                        Value 

Common Stocks  (100.5%):                                                                                                          
Consumer Discretionary  (10.2%):                                                                                                  
     1                   Federated Department Stores, Inc.                                                                    $33 
     55,000              Fortune Brands, Inc.                                                                           4,473,150 
     36,000              Gannett Co., Inc.                                                                              2,477,880 
     145,000             Genuine Parts Co.                                                                              6,220,500 
     182,000             Pearson PLC ADR                                                                                2,134,860 
     108,400             Thompson Corp.                                                                                 4,066,084 
     45,900              V.F. Corp.                                                                                     2,660,823 
                                                                                                                        --------- 
                                                                                                                       22,033,330 
                                                                                                                       ---------- 
Consumer Staples  (3.9%):                                                                                                         
     118,800             ConAgra Foods, Inc.                                                                            2,940,300 
     44,000              Molson Coors Brewing Co., Class B                                                              2,816,440 
     137,200             Sara Lee Corp.                                                                                 2,599,940 
                                                                                                                        --------- 
                                                                                                                        8,356,680 
                                                                                                                       ---------- 
Energy  (12.4%):                                                                                                                  
     114,800             ChevronTexaco Corp.                                                                            7,431,004 
     117,800             ConocoPhillips                                                                                 8,235,398 
     94,000              Occidental Petroleum Corp.                                                                     8,030,420 
     70,300              Progress Energy, Inc.                                                                          3,145,925 
                                                                                                                        --------- 
                                                                                                                       26,842,747 
                                                                                                                       ---------- 
Financials  (33.8%):                                                                                                              
     146,700             AmSouth Bancorporation                                                                         3,705,642 
     164,700             Bank of America Corp.                                                                          6,933,870 
     119,000             BB&T Corp.                                                                                     4,646,950 
     169,700             Citigroup, Inc.                                                                                7,724,745 
     67,300              Comerica, Inc.                                                                                 3,963,970 
     176,100             J.P. Morgan Chase & Co.                                                                        5,975,073 
     130,200             Lincoln National Corp.                                                                         6,773,004 
     113,000             MBNA Corp.                                                                                     2,784,320 
     200,000             National City Corp.                                                                            6,688,000 
     174,841             Regions Financial Corp.                                                                        5,441,052 
     56,800              SunTrust Banks, Inc.                                                                           3,944,760 
     120,000             Unitrin, Inc.                                                                                  5,695,200 
     59,400              Wachovia Corp.                                                                                 2,826,846 
     149,700             Washington Mutual, Inc. (d)                                                                    5,871,234 
                                                                                                                        --------- 
                                                                                                                       72,974,666 
                                                                                                                       ---------- 
Health Care  (8.5%):                                                                                                              
     163,500             Bristol-Myers Squibb Co.                                                                       3,933,810 
     160,200             Merck & Co., Inc.                                                                              4,359,042 
     255,800             Pfizer, Inc.                                                                                   6,387,326 
     78,800              Wyeth                                                                                          3,646,076 
                                                                                                                        --------- 
                                                                                                                       18,326,254 
                                                                                                                       ---------- 
Industrials  (6.6%):                                                                                                              
     140,000             General Electric Co.                                                                           4,713,800 
     89,000              Pitney Bowes, Inc.                                                                             3,714,860 
     160,300             R.R. Donnelley & Sons Co.                                                                      5,942,321 
                                                                                                                        --------- 
                                                                                                                       14,370,981 
                                                                                                                       ---------- 
Materials  (4.6%):                                                                                                                
     130,500             Boston Scientific Corp. (b)                                                                    3,049,785 
     64,000              Monsanto Co.                                                                                   4,016,000 
     49,000              PPG Industries, Inc.                                                                           2,900,310 
                                                                                                                        --------- 
                                                                                                                        9,966,095 
                                                                                                                       ---------- 
Real Estate Investment Trusts  (2.1%):                                                                                            
     76,000              Equity Office Properties Trust                                                                 2,485,960 
     55,800              Equity Residential Properties Trust                                                            2,112,030 
                                                                                                                        --------- 
                                                                                                                        4,597,990 
                                                                                                                       ---------- 
Technology  (5.7%):                                                                                                               
     47,600              Automatic Data Processing, Inc.                                                                2,048,704 
     40,700              Diebold, Inc.                                                                                  1,402,522 
     50,200              First Data Corp.                                                                               2,008,000 
     96,500              Intel Corp.                                                                                    2,378,725 
     83,000              Microsoft Corp.                                                                                2,135,590 
     145,000             Nokia Corp.                                                                                    2,451,950 
                                                                                                                        --------- 
                                                                                                                       12,425,491 
                                                                                                                       ---------- 
Telecommunications  (6.8%):                                                                                                       
     120,000             Alltel Corp.                                                                                   7,813,200 
     91,000              SBC Communications, Inc.                                                                       2,181,270 
     110,000             Sprint Corp.                                                                                   2,615,800 
     65,100              Verizon Communications, Inc.                                                                   2,128,119 
                                                                                                                        --------- 
                                                                                                                       14,738,389 
                                                                                                                       ---------- 
Utilities  (5.9%):                                                                                                                
     93,000              Consolidated Edison, Inc.                                                                      4,515,150 
     166,000             Duke Energy Corp.                                                                              4,842,220 
     65,000              Exelon Corp.                                                                                   3,473,600 
                                                                                                                        --------- 
                                                                                                                       12,830,970 
Total Common Stocks (Cost $162,922,254)                                                                               217,463,593 
                                                                                                                      ----------- 

Commercial Paper  (1.4%):                                                                                                         
Industrials  (1.4%):                                                                                                              
     3,000,000           General Electric Co., 3.940%, 12/29/05                                                         3,000,000 
                                                                                                                        --------- 

Total Commercial Paper (Cost $3,000,000)                                                                                3,000,000 
                                                                                                                        --------- 

Cash Equivalent  (1.0%):                                                                                                          
     2,078,579           Huntington Money Market Fund, Interfund Shares *                                               2,078,579 
                                                                                                                        --------- 
Total Cash Equivalent (Cost $2,078,579)                                                                                 2,078,579 
                                                                                                                        --------- 

Shares or Principal                                                                                                               
Amount                                                                                                                      Value 

Short-Term Securities Held as Collateral                                                                                          
for Securities Lending (1.3%)                                                                                                     
Commerical Paper (0.2%):                                                                                                          
$103,871                 Cafco LLC, 3.74%, 11/21/2005                                                                    103,871  
103,871                  Ford Credit Floor Plan Master Owner Trust A, 2002-1 Motown, 3.82%, 11/18/2005                   103,871  
41,837                   Nieuw Amsterdam Receivables Corp., 3.74%, 11/22/2005                                             41,837  
52,512                   Nieuw Amsterdam Receivables Corp., 3.87%, 12/21/2005                                             52,512  
71,844                   Three Pillars Funding LLC, 3.70%, 10/14/2005                                                     71,844  
43,857                   Three Pillars Funding LLC, 3.80%, 10/28/2005                                                     43,857  
                                                                                                                       ---------- 
                                                                                                                         417,792  
                                                                                                                       ---------- 

Mutual Fund (0.0%):                                                                                                               
1,443                    JP Morgan Institutional Prime Money Market Fund, 3.61%, 10/03/2005                                1,443  
                                                                                                                       ---------- 

Repurchase Agreements (0.5%):                                                                                                     
415,484                  JP Morgan Chase & Co., 3.88%, 10/03/2005                                                        415,484  
207,742                  JP Morgan Chase & Co., 3.88%, 10/03/2005                                                        207,742  
429,910                  UBS Securities LLC, 3.90%, 10/03/2005                                                           429,910  
                                                                                                                       ---------- 
                                                                                                                       1,053,136  
                                                                                                                       ---------- 
Time Deposit (0.0%):                                                                                                              
42,556                   Wells Fargo & Co., 3.94%, 10/03/2005                                                             62,325  
                                                                                                                       ---------- 

Variable Rate Obligations (0.6%):                                                                                                 
103,581                  Bank One Issuance Trust Class A, 2004-4, 3.81%, 10/17/2005                                      103,581  
62,323                   Bank One Issuance Trust Class A, 2003-1, 3.82%, 10/17/2005                                       62,323  
70,978                   Citibank Credit Card Issuance Trust, Class 2002-A9, Series 2000,                                 70,978  
                         3.89%, 12/15/2005                                                                                        
33,181                   Chase Credit Card Owner Trust Class A, 2004-2, 3.81%, 10/17/2005                                 33,181  
103,871                  Chase Credit Card Owner Trust Class A, 2004-2, 3.81%, 10/17/2005                                103,871  
51,935                   Chase Credit Card Master Trust Class A, 2001-2, 3.81%, 10/17/2005                                51,935  
89,444                   Chase Credit Card Owner Trust Class A, 2001-1, 3.81%, 10/17/2005                                 89,444  
26,256                   Chase Credit Card Owner Trust Class A, 2003-1, 3.81%, 10/17/2005                                 26,256  
21,640                   Chase Credit Card Owner Trust Class A, 2003-1, 3.82%, 10/17/2005                                 21,640  
62,323                   Chase Credit Card Owner Trust Class A, 2003-1, 3.83%, 10/17/2005                                 62,323  
57,418                   Daimler Chrysler Master Owner Trust, 2003-A, 3.82%, 10/17/2005                                   57,418  
51,935                   Deutsche Bank AG, 4.07%, 10/03/2005                                                              51,935  
51,935                   Discover Card Master Trust Class A, 2003-1, 3.83%, 10/17/2005                                    51,935  
55,975                   Discover Card Master Trust Class A, 2001-2, 3.82%, 10/17/2005                                    55,975  
19,620                   General Electric Co., 4.15%, 7/15/2006                                                           19,620  
103,871                  HBOS Treasury Services PLC, 4.04%, 12/30/2005                                                   103,871  
103,871                  JP Morgan Securities, Inc., 3.92%, 12/02/2005                                                   103,871  
20,774                   MBNA Master Credit Card Trust II Class A, 1997-K, 3.81%, 10/17/2005                              20,774  
124,645                  MBNA Master Credit Card Trust II Class A, 2000-K, 3.64%, 10/17/2005                             124,645  
83,097                   Merril Lynch & Co., Inc., 3.90%, 12/15/2005                                                      83,097  
51,935                   Merril Lynch & Co., Inc., 4.07%, 10/03/2005                                                      51,935  
                                                                                                                       ---------- 
                                                                                                                       1,350,608  
                                                                                                                       ---------- 
Total Short-Term Securities Held as Collateral For                                                                                
Securities Lending (Cost $2,885,304)                                                                                   2,885,304  
                                                                                                                       ---------- 

Total Investments (Cost $170,886,137) (a)   -   104.2%                                                                225,427,476 
Liabilities in Excess of Other Assets   -   (4.2)%                                                                    (9,028,530) 
                                                                                                                      ----------- 

NET ASSETS   -   100.0%                                                                                             $ 216,398,946 
                                                                                                                      =========== 
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington International Equity Fund                                                                                              
Portfolio of Investments September 30, 2005                                                                                       
(Unaudited)                                                                                                                       

     Shares or           Security                                                                                                 
     Principal Amount    Description                                                  Value                                       

Common Stocks  (92.5%):                                                                                                           
Austria  (2.2%):                                                                                                                  
Financials  (2.2%):                                                                                                               
     71,600              Erste Bank der Oesterreichischen Sparkassen AG           $3,828,877                                      
                                                                                   ---------                                      
Brazil  (2.4%):                                                                                                                   
Energy  (2.4%):                                                                                                                   
     60,000              Petroleo Brasileiro SA ADR                                4,289,400                                      
                                                                                   ---------                                      
Canada  (3.7%):                                                                                                                   
Energy  (2.7%):                                                                                                                   
     81,170              Encana Corp.                                              4,738,758                                      
                                                                                   ---------                                      
Industrials  (1.0%):                                                                                                              
     24,000              Canadian National Railway Co.                             1,703,760                                      
                                                                                   ---------                                      
                                                                                   6,442,518                                      
Finland  (3.3%):                                                                                                                  
Materials  (1.4%):                                                                                                                
     125,500             UPM Kymmene OYJ ADR                                       2,525,060                                      
                                                                                   ---------                                      
Telecommunications  (1.9%):                                                                                                       
     200,000             Nokia OYJ                                                 3,350,358                                      
                                                                                   ---------                                      
                                                                                   5,875,418                                      
France  (5.2%):                                                                                                                   
Consumer Staples  (0.9%):                                                                                                         
     14,000              Groupe Danone                                             1,508,262                                      
                                                                                   ---------                                      
Energy  (1.8%):                                                                                                                   
     12,535              Total SA                                                  3,420,896                                      
                                                                                   ---------                                      
Financials  (1.3%):                                                                                                               
     79,900              Axa ADR                                                   2,199,647                                      
                                                                                   ---------                                      
Utilities  (1.2%):                                                                                                                
     71,800              Suez SA ADR                                               2,083,636                                      
                                                                                   ---------                                      
                                                                                   9,212,441                                      
Germany  (5.4%):                                                                                                                  
Consumer Discretionary  (1.3%):                                                                                                   
     58,700              Douglas Holdings AG                                       2,232,596                                      
                                                                                   ---------                                      
Health Care  (2.2%):                                                                                                              
     106,300             Stada Arzneimittel AG                                     3,806,693                                      
                                                                                   ---------                                      
Technology  (1.9%):                                                                                                               
     19,500              SAP AG                                                    3,374,392                                      
                                                                                   ---------                                      
                                                                                   9,413,681                                      
Hong Kong  (1.5%):                                                                                                                
Financials  (1.5%):                                                                                                               
     888,000             The Bank Of East Asia Ltd.                                2,598,600                                      
                                                                                   ---------                                      
Ireland  (2.6%):                                                                                                                  
Consumer Staples  (1.0%):                                                                                                         
     75,300              Kerry Group PLC, Class A                                  1,760,001                                      
                                                                                   ---------                                      
Financials  (1.6%):                                                                                                               
     210,000             Anglo Irish Bank Corp. PLC                                2,851,650                                      
                                                                                   ---------                                      
                                                                                   4,611,651                                      
                                                                                  ----------                                      
Japan  (23.7%):                                                                                                                   
Consumer Discretionary  (5.1%):                                                                                                   
     47,000              Honda Motor Co., Ltd.                                     2,658,502                                      
     222,000             Matsushita Electric Industrial Co. Ltd.                   3,761,287                                      
     158,000             Shiseido Co. Ltd.                                         2,277,427                                      
                                                                                   ---------                                      
                                                                                   8,697,216                                      
                                                                                  ----------                                      
Consumer Staples  (2.3%):                                                                                                         
     185,000             Ajinomoto Co., Inc.                                       1,946,167                                      
     48,600              Uni-Charm Corp.                                           2,098,150                                      
                                                                                   ---------                                      
                                                                                   4,044,317                                      
                                                                                  ----------                                      
Financials  (2.8%):                                                                                                               
     216,500             Mitsubishi Tokyo Financial Group, Inc. ADR                2,820,995                                      
     294,000             The 77th Bank Ltd.                                        2,160,317                                      
                                                                                   ---------                                      
                                                                                   4,981,312                                      
                                                                                  ----------                                      
Health Care  (4.8%):                                                                                                              
     57,000              Eisai Co. Ltd.                                            2,435,683                                      
     48,400              ONO Pharmaceutical Co. Ltd.                               2,255,824                                      
     112,000             Tanabe Seiyaku Co. Ltd.                                   1,131,841                                      
     82,100              Terumo Corp.                                              2,640,220                                      
                                                                                   ---------                                      
                                                                                   8,463,568                                      
                                                                                  ----------                                      
Industrials  (1.7%):                                                                                                              
     220,000             KOMATSU LTD.                                              2,996,652                                      
     50                  Nintendo Co. Ltd.                                             5,833                                      
                                                                                       -----                                      
                                                                                   3,002,485                                      
                                                                                  ----------                                      
Technology  (5.9%):                                                                                                               
     75,000              Canon, Inc.                                               4,050,660                                      
     27,500              Hoya Corp.                                                  913,436                                      
     82,500              Hoya Corp. (b)                                            2,805,727                                      
     170,000             Sharp Corp.                                               2,462,379                                      
                                                                                   ---------                                      
                                                                                  10,232,202                                      
                                                                                  ----------                                      
Utilities  (1.1%):                                                                                                                
     76,000              The Tokyo Electric Power Co., Inc.                        1,921,762                                      
                                                                                   ---------                                      
                                                                                  41,342,862                                      
                                                                                  ----------                                      
Mexico  (1.6%):                                                                                                                   
Materials  (1.6%):                                                                                                                
     55,338              Cemex SA ADR                                              2,894,177                                      
                                                                                   ---------                                      
Netherlands  (3.8%):                                                                                                              
Financials  (1.9%):                                                                                                               
     115,012             ING Group NV                                              3,424,860                                      
                                                                                   ---------                                      
Industrials  (1.9%):                                                                                                              
     133,800             TPG NV                                                    3,323,495                                      
                                                                                   ---------                                      
                                                                                   6,748,355                                      
                                                                                  ----------                                      
Netherlands Antilles  (1.9%):                                                                                                     
Energy  (1.9%):                                                                                                                   
     39,500              Schlumberger Ltd. ADR                                     3,333,010                                      
                                                                                   ---------                                      
Norway  (1.2%):                                                                                                                   
Telecom Services  (1.2%):                                                                                                         
     230,000             Telenor ASA                                               2,054,889                                      
                                                                                   ---------                                      
Singapore  (2.8%):                                                                                                                
Technology  (1.2%):                                                                                                               
     248,000             Venture Corp. Ltd.                                        2,125,672                                      
                                                                                   ---------                                      
Telecommunications  (1.6%):                                                                                                       
     1,927,290           Singapore Telecommunications Ltd.                         2,791,193                                      
                                                                                   ---------                                      
                                                                                   4,916,865                                      
                                                                                  ----------                                      
Spain  (3.0%):                                                                                                                    
Financials  (0.6%):                                                                                                               
     63,700              Banco Bilbao Vizcaya SA ADR                               1,117,298                                      
                                                                                   ---------                                      
Industrials  (0.7%):                                                                                                              
     20,300              Fomento De Construcciones y Contratas SA                  1,209,730                                      
                                                                                   ---------                                      
Telecommunications  (1.7%):                                                                                                       
     176,384             Telefonica SA                                             2,886,920                                      
                                                                                   ---------                                      
                                                                                   5,213,948                                      
                                                                                  ----------                                      
Sweden  (5.9%):                                                                                                                   
Consumer Discretionary  (1.2%):                                                                                                   
     89,000              Electrolux AB, Series B                                   2,084,000                                      
                                                                                   ---------                                      
Financials (2.2%):                                                                                                                
     162,600             ForeningsSparbanken AB                                    3,933,262                                      
                                                                                   ---------                                      
Industrials (2.5%):                                                                                                               
     88,900              Sandvik AB                                                4,421,373                                      
                                                                                   ---------                                      
                                                                                  10,438,635                                      
                                                                                  ----------                                      
Switzerland  (4.1%):                                                                                                              
Health Care  (1.9%):                                                                                                              
     66,900              Novartis AG                                               3,393,591                                      
                                                                                   ---------                                      
Industrials (0.8%):                                                                                                               
     3,400               Schindler Holding AG                                      1,321,434                                      
                                                                                   ---------                                      
Materials  (1.4%):                                                                                                                
     120,400             Syngenta AG ADR                                           2,528,400                                      
                                                                                   ---------                                      
                                                                                   7,243,425                                      
                                                                                  ----------                                      
United Kingdom  (18.2%):                                                                                                          
Consumer Discretionary  (1.5%):                                                                                                   
     232,300             Pearson PLC                                               2,699,829                                      
                                                                                   ---------                                      
Consumer Staples  (4.0%):                                                                                                         
     227,100             Boots Group PLC                                           2,437,133                                      
     233,400             Cadbury Schweppes PLC                                     2,354,499                                      
     430,284             Tesco PLC                                                 2,348,646                                      
                                                                                   ---------                                      
                                                                                   7,140,278                                      
                                                                                  ----------                                      
Energy  (2.2%):                                                                                                                   
     275,000             BG Group PLC                                              2,609,256                                      
     104,000             BP Amoco PLC                                              1,235,300                                      
                                                                                   ---------                                      
                                                                                   3,844,556                                      
                                                                                  ----------                                      
Financials  (2.3%):                                                                                                               
     163,000             Barclays PLC                                              1,647,191                                      
     112,000             Standard Chartered PLC                                    2,415,717                                      
                                                                                   ---------                                      
                                                                                   4,062,908                                      
                                                                                  ----------                                      
Health Care  (1.4%):                                                                                                              
     46,850              GlaxoSmithkline PLC ADR                                   2,402,468                                      
                                                                                   ---------                                      
Industrials  (2.2%):                                                                                                              
     175,000             Bunzl PLC                                                 1,753,025                                      
     416,700             Tomkins PLC                                               2,123,845                                      
                                                                                   ---------                                      
                                                                                   3,876,870                                      
                                                                                  ----------                                      
Materials  (3.0%):                                                                                                                
     292,500             Filtrona PLC                                              1,413,442                                      
     23,100              Rio Tinto PLC ADR                                         3,795,330                                      
                                                                                   ---------                                      
                                                                                   5,208,772                                      
                                                                                  ----------                                      
Utilities  (1.6%):                                                                                                                
     153,600             Scottish & Southern Energy PLC                            2,787,457                                      
                                                                                   ---------                                      
                                                                                  32,023,138                                      
Total Common Stocks (Cost $123,326,638)                                          162,481,890                                      
                                                                                 -----------                                      

Mutual Funds  (2.3%):                                                                                                             
India  (0.6%):                                                                                                                    
Management Investment Operation  (0.6%):                                                                                          
     23,400              Morgan Stanley India Investment Fund                      1,007,604                                      
                                                                                   ---------                                      
Japan  (0.7%):                                                                                                                    
Management Investment Operation  (0.7%):                                                                                          
     97,000              iShares MSCI, Japan  Index Fund South Korea (1.0%)        1,182,430                                      
                                                                                   ---------                                      
Management Investment Operation  (1.0%):                                                                                          
     45,000              iShares MSCI, South Korea Index Fund                      1,775,250                                      
                                                                                   ---------                                      
Total Mutual Funds (Cost $3,300,153)                                               3,965,284                                      
                                                                                   ---------                                      

Repurchase Agreement  (5.0%):                                                                                                     
     $8,745,000          State Street Repurchase Agreement,                        8,745,000                                      
                                                                                   ---------                                      
                          2.450%, dated 9/30/05, due 10/3/05,                                                                     
                         repurchase price $8,746,785 (Fully                                                                       
                         collateralized by U.S. Treasury                                                                          
                         Securities)                                                                                              
Total Repurchase Agreement (Cost $8,745,000)                                       8,745,000                                      
                                                                                   ---------                                      

Total Investments (Cost $135,371,791) (a)   -   99.8%                            175,192,174                                      
Other Assets in Excess of Liabilities   -   0.2%                                     309,647                                      
                                                                                     -------                                      

NET ASSETS   -   100.0%  $                                                       175,501,821                                      
                                                                                 ===========                                      
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington                                                                                                                        
Macro 100 Fund                                                                                                                    
Portfolio of Investments                                                                                                          
September 30, 2005                                                                                                                
(Unaudited)                                                                                                                       

   Security                                                                                                                       
   Shares         Description                                                       Value                                         

Common Stocks  (99.2%):                                                                                                           
Consumer Discretionary  (20.1%):                                                                                                  
   8,700          3M Co.                                                         $638,232                                         
   8,300          AutoNation, Inc. (b)                                            165,751                                         
   1,900          AutoZone, Inc. (b)                                              158,175                                         
   5,700          Bed Bath & Beyond, Inc. (b)                                     229,026                                         
   5,400          Darden Restaurants, Inc.                                        163,998                                         
   14,700         Ebay, Inc. (b)                                                  605,640                                         
   4,700          Genuine Parts Co.                                               201,630                                         
   8,800          Hilton Hotels Corp.                                             196,416                                         
   22,500         Home Depot, Inc.                                                858,150                                         
   9,000          Limited Brands, Inc.                                            183,870                                         
   4,300          Liz Claiborne, Inc.                                             169,076                                         
   9,100          Lowe's Cos., Inc.                                               586,040                                         
   3,500          Reebok International Ltd.                                       197,995                                         
   6,100          Starbucks Corp. (b)                                             305,610                                         
   9,600          TJX Companies, Inc.                                             196,608                                         
   4,400          UST, Inc.                                                       184,184                                         
   3,900          Wendy's International, Inc.                                     176,085                                         
   5,200          YUM! Brands, Inc.                                               251,732                                         
                                                                                  -------                                         
                                                                                5,468,218                                         
                                                                                ----------                                        
Consumer Staples  (4.3%):                                                                                                         
   3,000          Brown-Forman Corp.                                              178,620                                         
   9,000          Coca-Cola Enterprises, Inc.                                     175,500                                         
   6,100          Constellation Brands, Inc. (b)                                  158,600                                         
   6,200          Pepsi Bottling Group, Inc.                                      177,010                                         
   2,700          Reynolds American, Inc.                                         224,154                                         
   12,600         Staples, Inc.                                                   268,632                                         
                                                                                  -------                                         
                                                                                1,182,516                                         
                                                                               ----------                                         
Financials  (24.7%):                                                                                                              
   2,200          Bear Stearns Companies, Inc.                                    241,450                                         
   3,900          Capital One Financial Corp.                                     310,128                                         
   4,000          Compass Bancshares, Inc.                                        183,320                                         
   8,600          Countrywide Credit Industries, Inc.                             283,628                                         
   12,000         E*Trade Group, Inc. (b)                                         211,200                                         
   4,200          First Horizon National Corp.                                    152,670                                         
   3,300          Franklin Resources, Inc.                                        277,068                                         
   4,600          Golden West Financial Corp.                                     273,194                                         
   5,300          Goldman Sachs Group, Inc.                                       644,374                                         
   3,700          Lehman Brothers Holdings, Inc.                                  430,976                                         
   4,800          Marshall & Ilsley Corp.                                         208,848                                         
   10,700         Merrill Lynch & Co., Inc.                                       656,445                                         
   5,400          Moody's Corp.                                                   275,832                                         
   12,300         Morgan Stanley                                                  663,462                                         
   5,700          Principal Financial Group                                       270,009                                         
   6,400          SLM Corp.                                                       343,296                                         
   3,100          T. Rowe Price Group, Inc.                                       202,430                                         
   20,700         The Charles Schwab Corp.                                        298,701                                         
   16,700         Wachovia Corp.                                                  794,753                                         
                                                                                  -------                                         
                                                                                6,721,784                                         
                                                                               ----------                                         
Health Care  (3.5%):                                                                                                              
   2,000          Bausch & Lomb, Inc.                                             161,360                                         
   7,100          Caremark Rx, Inc. (b)                                           354,503                                         
   4,000          Express Scripts, Inc. (b)                                       248,800                                         
   6,300          Thermo Electron Corp. (b)                                       194,670                                         
                                                                                  -------                                         
                                                                                  959,333                                         
                                                                               ----------                                         
Industrials  (9.4%):                                                                                                              
   3,300          Avery Dennison Corp.                                            172,887                                         
   5,000          Danaher Corp.                                                   269,150                                         
   5,400          Dover Corp.                                                     220,266                                         
   3,400          Eaton Corp.                                                     216,070                                         
   6,600          Ingersoll Rand Co.                                              252,318                                         
   2,100          ITT Industries, Inc.                                            238,560                                         
   5,500          Pall Corp.                                                      151,250                                         
   3,100          Parker Hannifin Corp.                                           199,361                                         
   5,200          Pitney Bowes, Inc.                                              217,048                                         
   4,100          Rockwell International Corp.                                    216,890                                         
   2,900          Textron, Inc.                                                   207,988                                         
   2,800          Vulcan Materials Co.                                            207,788                                         
                                                                                  -------                                         
                                                                                2,569,576                                         
                                                                               ----------                                         
Materials  (1.5%):                                                                                                                
   5,000          Freeport-McMoran Copper & Gold,                                 242,950                                         
   Inc., Class B                                                                                                                  
   4,000          Sherwin-Williams Co.                                            176,280                                         
                                                                                  -------                                         
                                                                                  419,230                                         
                                                                               ----------                                         
Technology  (33.4%):                                                                                                              
   9,100          Adobe Systems, Inc.                                             271,635                                         
   10,400         Advanced Micro Devices, Inc. (b)                                262,080                                         
   3,600          Affiliated Computer Services, Inc. (b)                          196,560                                         
   9,300          Altera Corp. (b)                                                177,723                                         
   6,700          Analog Devices, Inc.                                            248,838                                         
   11,400         Andrew Corporation (b)                                          127,110                                         
   47,600         Applied Micro Circuits Corp. (b)                                142,800                                         
   6,000          Autodesk, Inc.                                                  278,640                                         
   8,900          BMC Software, Inc. (b)                                          187,790                                         
   6,100          Broadcom Corp., Class A (b)                                     286,151                                         
   62,100         Ciena Corp. (b)                                                 163,944                                         
   7,400          Citrix Systems, Inc. (b)                                        186,036                                         
   9,300          Computer Associates International, Inc.                         258,633                                         
   20,600         Compuware Corp. (b)                                             195,700                                         
   7,200          Comverse Technology, Inc. (b)                                   189,144                                         
   5,100          Electronic Arts, Inc. (b)                                       290,139                                         
   3,100          Fisher Scientific International, Inc. (b)                       192,355                                         
   4,400          Intuit, Inc. (b)                                                197,164                                         
   5,900          Jabil Circuit, Inc. (b)                                         182,428                                         
   100,000        JDS Uniphase Corp. (b)                                          222,000                                         
   6,200          Linear Technology Corp.                                         233,058                                         
   6,300          Maxim Integrated Products, Inc.                                 268,695                                         
   4,300          Mercury Interactive Corp. (b)                                   170,280                                         
   8,700          National Semiconductor Corp.                                    228,810                                         
   24,700         Novell, Inc. (b)                                                184,015                                         
   49,200         Oracle Corp. (b)                                                609,588                                         
   22,600         Parametric Technology Corp. (b)                                 157,522                                         
   14,700         PMC-Sierra, Inc. (b)                                            129,507                                         
   5,000          QLogic Corp. (b)                                                171,000                                         
   18,400         Qualcomm, Inc.                                                  823,400                                         
   5,000          Scientific-Atlanta, Inc.                                        187,550                                         
   19,900         Siebel Systems, Inc.                                            205,567                                         
   16,599         Symantec Corp. (b)                                              376,133                                         
   6,100          Tektronix, Inc.                                                 153,903                                         
   22,800         Unisys Corp. (b)                                                151,392                                         
   7,900          Xilinx, Inc.                                                    220,015                                         
   15,500         Yahoo, Inc. (b)                                                 524,520                                         
                                                                                  -------                                         
                                                                                9,051,825                                         
                                                                               ----------                                         
Telecommunications  (2.3%):                                                                                                       
   20,400         Avaya, Inc. (b)                                                 210,120                                         
   17,871         Sprint Corp.                                                    424,972                                         
                                                                                  -------                                         
                                                                                  635,092                                         
Total Common Stocks (Cost $25,408,556)                                         27,007,574                                         
                                                                               ----------                                         

Cash Equivalent  (0.8%):                                                                                                          
   218,262        Huntington Money Market Fund, Interfund Shares *                218,262                                         
                                                                                  -------                                         
Total Cash Equivalent (Cost $218,262)                                             218,262                                         
                                                                                  -------                                         

Total Investments (Cost $25,626,818) (a)   -   100.0%                          27,225,836                                         
Liabilities in Excess of Other Assets   -   0.0%                                  (5,072)                                         
                                                                                  -------                                         

NET ASSETS   -   100.0%                                                       $ 27,220,764                                        
                                                                              ------------                                        
See Notes to Portfolio of Investments.                                                                                            

Huntington Mid Corp America Fund                                                                                                  
Portfolio of Investments                                                                                       September 30, 2005 
(Unaudited)                                                                                                                       

         Shares or                                                                                                       Security 
         Principal Amount  Description                                                                                      Value 

Common Stocks  (95.5%):                                                                                                           
Consumer Discretionary  (15.6%):                                                                                                  
         19,400            Abercrombie & Fitch Co., Class A$                                                              967,090 
         30,900            AnnTaylor Stores Corp. (b)                                                                     820,395 
         21,000            Beazer Homes USA, Inc. (d)                                                                   1,232,070 
         16,200            BorgWarner, Inc.                                                                               914,652 
         12,000            Boyd Gaming Corp.                                                                              517,440 
         16,900            Brunswick Corp.                                                                                637,637 
         5,000             Career Education Corp. (b)                                                                     177,800 
         16,400            Centex Corp.                                                                                 1,059,112 
         13,900            Cooper Tire & Rubber Co.                                                                       212,253 
         5,600             Cummins Engine, Inc.                                                                           492,744 
         14,666            D. R. Horton, Inc.                                                                             531,203 
         7,000             Dollar General Corp.                                                                           128,380 
         5,000             Dorel Industries, CL B (b)                                                                     133,950 
         5,800             Harman International Industries, Inc.                                                          593,166 
         4,000             Hilton Hotels Corp.                                                                             89,280 
         3,000             Hovnanian Enterprises (b)                                                                      153,600 
         5,000             Intrawest Corp.                                                                                136,500 
         5,000             Leggett & Platt, Inc.                                                                          101,000 
         3,000             Lennar Corp.                                                                                   179,280 
         22,500            Liz Claiborne, Inc.                                                                            884,700 
         19,500            Mohawk Industries, Inc. (b)                                                                  1,564,875 
         27,800            NBTY, Inc. (b)                                                                                 653,300 
         8,900             Nieman Marcus Group, Inc.                                                                      889,555 
         40,000            Nordstrom, Inc.                                                                              1,372,800 
         8,000             Pacific Sunwear of California, Inc. (b)                                                        171,520 
         8,000             PETsMART, Inc.                                                                                 174,240 
         5,000             Polo Ralph Lauren Corp.                                                                        251,500 
         66,000            Pulte Homes, Inc.                                                                            2,832,720 
         19,000            Reebok International Ltd.                                                                    1,074,830 
         37,200            Royal Caribbean Cruises Ltd.                                                                 1,607,040 
         22,000            Ruby Tuesday, Inc.                                                                             478,720 
         27,500            Sonic Automotives, Inc.                                                                        611,050 
         6,000             Starwood Hotels & Resorts Worldwide, Inc.                                                      343,020 
         5,000             Stein Mart, Inc.                                                                               101,500 
         5,000             Technical Olympic USA, Inc.                                                                    130,800 
         14,700            The Stanley Works                                                                              686,196 
         5,000             The Warnaco Group, Inc. (b)                                                                    109,550 
         10,000            UniFirst Corp.                                                                                 350,700 
         10,600            Whirlpool Corp.                                                                                803,162 
         8,000             Wolverine World Wide, Inc.                                                                     168,400 
         31,800            Zales Corp. (b)                                                                                864,324 
                                                                                                                          ------- 
                                                                                                                       25,202,054 
                                                                                                                       ---------- 
Consumer Staples  (3.7%):                                                                                                         
         5,001             Applebee's International, Inc.                                                                 103,460 
         31,200            Church & Dwight Co., Inc.                                                                    1,152,528 
         20,000            Constellation Brands, Inc. (b)                                                                 520,000 
         15,300            McCormick & Co., Inc.                                                                          499,239 
         14,100            Molson Coors Brewing Co., Class B                                                              902,541 
         20,700            Ralcorp Holding, Inc.                                                                          867,744 
         18,900            Smithfield Foods, Inc. (b)                                                                     560,952 
         21,700            Spectrum Brands, Inc. (b)                                                                      511,035 
         16,400            SUPERVALU, Inc.                                                                                510,368 
         23,600            Tyson Foods, Inc., Class A                                                                     425,980 
                                                                                                                          ------- 
                                                                                                                        6,053,847 
                                                                                                                       ---------- 
Energy  (10.3%):                                                                                                                  
         27,710            Apache Corp.                                                                                 2,084,346 
         62,700            Chesapeake Energy Corp.                                                                      2,398,275 
         39,644            Devon Energy Corp.                                                                           2,721,164 
         11,300            Forest Oil Corp. (b)                                                                           588,730 
         14,600            Helmerich & Payne, Inc.                                                                        881,694 
         19,200            Murphy Oil Corp.                                                                               957,504 
         78,754            Noble Energy, Inc.                                                                           3,693,563 
         15,600            Suncor Energy, Inc. ADR                                                                        944,268 
         15,000            Unit Corp. (b)                                                                                 829,200 
         27,300            Vintage Petroleum, Inc.                                                                      1,246,518 
         5,800             Weatherford International, Inc. (b)                                                            398,228 
                                                                                                                          ------- 
                                                                                                                       16,743,490 
                                                                                                                       ---------- 
Financials  (17.1%):                                                                                                              
         28,500            Allied Capital Corp. (d)                                                                       815,955 
         19,200            Allmerica Financial Corp. (b)                                                                  789,888 
         17,900            AMBAC Financial Group, Inc.                                                                  1,289,874 
         14,600            Amcore Financial, Inc.                                                                         455,666 
         26,200            AmeriCredit Corp. (b)                                                                          625,394 
         21,200            BancorpSouth, Inc.                                                                             484,420 
         12,400            Bear Stearns Companies, Inc.                                                                 1,360,900 
         18,818            BOK Financial Corp.                                                                            906,463 
         25,875            Chittenden Corp.                                                                               685,946 
         26,900            City National Corp.                                                                          1,885,421 
         30,200            Compass Bancshares, Inc.                                                                     1,384,066 
         25,300            Fidelity National Financial, Inc.                                                            1,126,356 
         24,200            First American Financial Corp.                                                               1,105,214 
         34,200            First Horizon National Corp.                                                                 1,243,170 
         17,000            Firstmerit Corp.                                                                               455,430 
         7,021             Fulton Financial Corp.                                                                         117,602 
         23,250            Legg Mason, Inc.                                                                             2,550,293 
         13,300            M & T Bank Corp.                                                                             1,405,943 
         26,400            MoneyGram International, Inc.                                                                  573,144 
         22,100            Nationwide Financial Services, Inc.                                                            885,105 
         5,333             New York Community Bancorp, Inc.                                                                87,461 
         49,800            Old Republic International Corp.                                                             1,328,166 
         26,000            PMI Group, Inc.                                                                              1,036,620 
         30,900            Protective Life Corp.                                                                        1,272,462 
         32,800            TCF Financial Corp.                                                                            877,400 
         14,749            TD Banknorth, Inc.                                                                             444,535 
         26,700            Torchmark Corp.                                                                              1,410,561 
         7,076             Toronto-Dominion Bank                                                                          348,988 
         21,000            Wilmington Trust Corp.                                                                         765,450 
                                                                                                                          ------- 
                                                                                                                       27,717,893 
                                                                                                                       ---------- 
Health Care  (12.6%):                                                                                                             
         25,000            AmerisourceBergen Corp.                                                                      1,932,500 
         23,100            Barr Laboratories, Inc. (b)                                                                  1,268,652 
         9,540             Caremark Rx, Inc. (b)                                                                          476,332 
         13,000            Cephalon, Inc. (b)                                                                             603,460 
         23,850            Coventry Health Care, Inc. (b)                                                               2,051,577 
         4,000             Dentsply International, Inc.                                                                   216,080 
         9,000             Health Management Associates, Inc.                                                             211,230 
         12,600            Hillenbrand Industries, Inc.                                                                   592,830 
         27,800            Invitrogen Corp. (b)                                                                         2,091,394 
         29,800            Lincare Holdings, Inc. (b)                                                                   1,223,290 
         73,725            Mylan Laboratories, Inc.                                                                     1,419,944 
         23,500            Omnicare, Inc.                                                                               1,321,405 
         22,200            Owens & Minor, Inc.                                                                            651,570 
         18,000            Pediatrix Medical Group, Inc. (b)                                                            1,382,760 
         22,500            Renal Care Group, Inc. (b)                                                                   1,064,700 
         50,000            Respironics, Inc. (b)                                                                        2,109,000 
         35,300            Thermo Electron Corp. (b)                                                                    1,090,770 
         24,755            Viasys Healthcare, Inc. (b)                                                                    618,627 
         6,000             Watson Pharmaceutical, Inc. (b)                                                                219,660 
                                                                                                                          ------- 
                                                                                                                       20,545,781 
                                                                                                                       ---------- 
Industrials  (12.1%):                                                                                                             
         9,600             Alliant Techsystems, Inc. (b)                                                                  716,640 
         3,000             Avery Dennison Corp.                                                                           157,170 
         23,636            Banta Corp.                                                                                  1,202,836 
         5,000             Chaparral Steel (b)                                                                            126,100 
         23,600            Cooper Industries Ltd., Class A                                                              1,631,704 
         16,000            Elbit Systems Ltd.                                                                             350,240 
         3,000             G & K Services, Inc., Class A                                                                  118,170 
         40,700            Griffon Corp. (b)                                                                            1,001,220 
         31,100            Insituform Technologies, Inc., Class A (b)                                                     537,719 
         27,000            Kennametal, Inc.                                                                             1,324,080 
         39,000            L-3 Communications Corp.                                                                     3,083,730 
         26,700            NCO Group, Inc. (b)                                                                            551,622 
         6,000             Oshkosh Truck Corp.                                                                            258,960 
         36,800            Pall Corp.                                                                                   1,012,000 
         15,600            Parker Hannifin Corp.                                                                        1,003,236 
         32,800            Precision Castparts Corp.                                                                    1,741,680 
         7,000             R.R. Donnelley & Sons Co.                                                                      259,490 
         3,000             Rockwell International Corp.                                                                   158,700 
         16,000            Ryder System, Inc.                                                                             547,520 
         17,000            Stericycle, Inc. (b)                                                                           971,550 
         11,800            Tecumseh Products Co., Class A                                                                 253,936 
         21,500            Teleflex, Inc.                                                                               1,515,750 
         10,000            Textron, Inc.                                                                                  717,200 
         11,600            Thomas & Betts Corp. (b)                                                                       399,156 
                                                                                                                          ------- 
                                                                                                                       19,640,409 
                                                                                                                       ---------- 
Materials  (4.1%):                                                                                                                
         20,700            Albemarle Corp.                                                                                780,390 
         22,200            AptarGroup, Inc.                                                                             1,105,782 
         6,000             Ball Corp.                                                                                     220,440 
         6,200             Bemis Co.                                                                                      153,140 
         27,700            Cytec Industries, Inc.                                                                       1,201,626 
         363               Eagle Materials, Inc.                                                                           44,057 
         10,600            Ferro Corp.                                                                                    194,192 
         7,000             FMC Corp. (b)                                                                                  400,540 
         5,300             Lafarge North America Corp.                                                                    358,333 
         18,800            Lubrizol Corp.                                                                                 814,604 
         3,000             Minerals Technologies, Inc.                                                                    171,630 
         18,300            Pactiv Corp. (b)                                                                               320,616 
         6,000             Schnitzer Steel Industries, Inc.                                                               195,420 
         5,000             Texas Industries, Inc.                                                                         272,000 
         5,000             The Scotts Co.                                                                                 439,650 
                                                                                                                          ------- 
                                                                                                                        6,672,420 
                                                                                                                       ---------- 
Technology  (13.4%):                                                                                                              
         94,000            Activision, Inc. (b)                                                                         1,922,300 
         14,300            Affiliated Computer Services, Inc. (b)                                                         780,780 
         5,000             Amdocs, Ltd. (b)                                                                               138,650 
         434               Avid Technology, Inc. (b)                                                                       17,968 
         1,950             Benchmark Electronics, Inc. (b)                                                                 58,734 
         6,000             Cognos, Inc. (b)                                                                               233,580 
         13,100            Coherent, Inc. (b)                                                                             383,568 
         4,600             Electronic Arts, Inc. (b)                                                                      261,694 
         15,000            ESS Technology, Inc. (b)                                                                        53,250 
         18,928            Fisher Scientific International, Inc. (b)                                                    1,174,482 
         13,600            FLIR Systems, Inc. (b)                                                                         402,288 
         40,000            Forrester Research, Inc. (b)                                                                   832,800 
         30,000            Harris Corp.                                                                                 1,254,000 
         24,400            Imation Corp.                                                                                1,046,028 
         5,000             Interactive Data Corp.                                                                         113,250 
         16,000            Intergraph Corp. (b)                                                                           715,360 
         23,200            International Rectifier Corp. (b)                                                            1,045,856 
         5,000             Intuit, Inc. (b)                                                                               224,050 
         29,000            JDA Software Group, Inc. (b)                                                                   440,220 
         6,000             Molex, Inc.                                                                                    160,080 
         25,800            NCR Corp. (b)                                                                                  823,278 
         20,000            Novell, Inc. (b)                                                                               149,000 
         51,400            Paxar Corp. (b)                                                                                866,090 
         17,200            Progress Software Corp. (b)                                                                    546,444 
         11,968            SafeNet, Inc. (b)                                                                              434,558 
         34,300            Sandisk Corp. (b)                                                                            1,654,975 
         32,500            Scientific-Atlanta, Inc.                                                                     1,219,075 
         32,000            Sybase, Inc. (b)                                                                               749,440 
         89,600            Symantec Corp. (b)                                                                           2,030,336 
         14,000            Symmetricom, Inc. (b)                                                                          108,360 
         22,500            Tektronix, Inc.                                                                                567,675 
         7,500             THQ, Inc. (b)                                                                                  159,900 
         20,700            Trimble Navigation Ltd. (b)                                                                    697,383 
         13,000            Varian Semiconductor Equipment Associates, Inc. (b)                                            550,810 
                                                                                                                          ------- 
                                                                                                                       21,816,262 
                                                                                                                       ---------- 
Telecommunications  (0.3%):                                                                                                       
         12,000            CenturyTel, Inc.                                                                               419,760 
         3,700             Commonwealth Telephone Enterprises, Inc.                                                       139,490 
                                                                                                                          ------- 
                                                                                                                          559,250 
                                                                                                                       ---------- 
Utilities  (6.3%):                                                                                                                
         12,000            AGL Resources, Inc.                                                                            445,320 
         9,266             Allete, Inc.                                                                                   424,475 
         15,500            Atmos Energy Corp.                                                                             437,875 
         8,000             Constellation Energy Group                                                                     492,800 
         34,800            Energy East Corp.                                                                              876,612 
         9,000             Keyspan Corp.                                                                                  331,020 
         40,500            MDU Resources Group, Inc.                                                                    1,443,825 
         27,900            National Fuel Gas Co.                                                                          954,180 
         9,500             New Jersey Resources Corp.                                                                     436,810 
         11,500            Peoples Energy Corp.                                                                           452,870 
         45,500            Questar Corp.                                                                                4,009,460 
                                                                                                                        --------- 
                                                                                                                       10,305,247 
Total Common Stocks (Cost $96,329,761)                                                                                155,256,653 
                                                                                                                      ----------- 

Mutual Funds  (1.5%):                                                                                                             
Exchange Traded Funds  (1.5%):                                                                                                    
         18,000            iShares S&P Midcap 400 (d)                                                                   1,291,500 
         9,000             MidCap SPDR Trust Series 1 Index                                                             1,177,920 
                                                                                                                        --------- 
         Fund (d)                                                                                                                 
Total Mutual Funds (Cost $1,506,600)                                                                                    2,469,420 
                                                                                                                        --------- 

Cash Equivalent  (3.0%):                                                                                                          
         4,926,896         Huntington Money Market Fund, Interfund Shares*                                              4,926,896 
                                                                                                                        --------- 
Total Cash Equivalent (Cost $4,926,896)                                                                                 4,926,896 
                                                                                                                        --------- 

         Shares or Principal                                                                                                      
         Amount                                                                                                             Value 

Short-Term Securities Held as Collateral                                                                                          
for Securities Lending (2.3%)                                                                                                     
Commerical Paper (0.3%):                                                                                                          
         $133,604          Cafco LLC, 3.74%, 11/21/2005                                                                  133,604  
         133,604           Ford Credit Floor Plan Master Owner Trust A, 2002-1 Motown, 3.82%, 11/18/2005                 133,604  
         53,813            Nieuw Amsterdam Receivables Corp., 3.74%, 11/22/2005                                           53,813  
         67,543            Nieuw Amsterdam Receivables Corp., 3.87%, 12/21/2005                                           67,543  
         92,409            Three Pillars Funding LLC, 3.70%, 10/14/2005                                                   92,409  
         56,410            Three Pillars Funding LLC, 3.80%, 10/28/2005                                                   56,410  
                                                                                                                       ---------- 
                                                                                                                         537,383  
                                                                                                                       ---------- 

Mutual Fund (0.0%):                                                                                                               
         1,856             JP Morgan Institutional Prime Money Market Fund, 3.61%, 10/03/2005                              1,856  
                                                                                                                       ---------- 

Repurchase Agreements (0.8%):                                                                                                     
         534,415           JP Morgan Chase & Co., 3.88%, 10/03/2005                                                      534,415  
         267,207           JP Morgan Chase & Co., 3.88%, 10/03/2005                                                      267,207  
         552,971           UBS Securities LLC, 3.90%, 10/03/2005                                                         552,971  
                                                                                                                       ---------- 
                                                                                                                       1,354,593  
                                                                                                                       ---------- 

Time Deposit (0.1%):                                                                                                              
         80,162            Wells Fargo & Co., 3.94%, 10/03/2005                                                           80,162  
                                                                                                                       ---------- 

Variable Rate Obligations (1.1%):                                                                                                 
         133,233           Bank One Issuance Trust Class A, 2004-4, 3.81%, 10/17/2005                                    133,233  
         80,162            Bank One Issuance Trust Class A, 2003-1, 3.82%, 10/17/2005                                     80,162  
         91,296            Citibank Credit Card Issuance Trust, Class 2002-A9, Series 2000, 3.89%, 12/15/2005             91,296  
         42,679            Chase Credit Card Owner Trust Class A, 2004-2, 3.81%, 10/17/2005                               42,679  
         133,604           Chase Credit Card Owner Trust Class A, 2004-2, 3.81%, 10/17/2005                              133,604  
         66,802            Chase Credit Card Master Trust Class A, 2001-2, 3.81%, 10/17/2005                              66,802  
         115,048           Chase Credit Card Owner Trust Class A, 2001-1, 3.81%, 10/17/2005                              115,048  
         33,772            Chase Credit Card Owner Trust Class A, 2003-1, 3.81%, 10/17/2005                               33,772  
         27,834            Chase Credit Card Owner Trust Class A, 2003-1, 3.82%, 10/17/2005                               27,834  
         80,162            Chase Credit Card Owner Trust Class A, 2003-1, 3.83%, 10/17/2005                               80,162  
         73,853            Daimler Chrysler Master Owner Trust, 2003-A, 3.82%, 10/17/2005                                 73,853  
         66,802            Deutsche Bank AG, 4.07%, 10/03/2005                                                            66,802  
         66,802            Discover Card Master Trust Class A, 2003-1, 3.83%, 10/17/2005                                  66,802  
         71,998            Discover Card Master Trust Class A, 2001-2, 3.82%, 10/17/2005                                  71,998  
         25,236            General Electric Co., 4.15%, 7/15/2006                                                         25,236  
         133,604           HBOS Treasury Services PLC, 4.04%, 12/30/2005                                                 133,604  
         133,604           JP Morgan Securities, Inc., 3.92%, 12/02/2005                                                 133,604  
         26,721            MBNA Master Credit Card Trust II Class A, 1997-K, 3.81%, 10/17/2005                            26,721  
         160,324           MBNA Master Credit Card Trust II Class A, 2000-K, 3.64%, 10/17/2005                           160,324  
         106,883           Merril Lynch & Co., Inc., 3.90%, 12/15/2005                                                   106,883  
         66,802            Merril Lynch & Co., Inc., 4.07%, 10/03/2005                                                    66,802  
                                                                                                                       ---------- 
                                                                                                                       1,737,221  
                                                                                                                       ---------- 

Total Short-Term Securities Held as Collateral For                                                                                
Securities Lending (Cost $3,711,215)                                                                                   3,711,215  
                                                                                                                       ---------- 

Total Investments (Cost $106,474,472) (a)   -   102.3%                                                                166,364,184 
Liabilities in Excess of Other Assets   -  (2.3)%                                                                     (3,740,699) 
                                                                                                                      ----------- 

NET ASSETS   -   100.0%$                                                                                              162,623,485 
                                                                                                                      =========== 
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington New Economy Fund                                                                                                       
Portfolio of Investments                                                                                        September 30, 2005
(Unaudited)                                                                                                                       

         Shares or         Security                                                                                               
         Principal Amount  Description                                                                                      Value 

Common Stocks  (94.6%):                                                                                                           
Consumer Discretionary  (16.2%):                                                                                                  
         18,000            Adesa, Inc.                                                                                   $397,800 
         28,500            Alderwoods Group, Inc. (b)                                                                     466,830 
         18,300            Alliance Atlantis Communications, Inc. (b)                                                     494,099 
         2,200             Ambassadors Group, Inc.                                                                         49,060 
         5,400             American Eagle Outfitters, Inc.                                                                127,062 
         4,500             Autoliv, Inc.                                                                                  195,750 
         6,100             AutoNation, Inc. (b)                                                                           121,817 
         800               Avatar Holdings, Inc. (b)                                                                       47,392 
         4,800             Barnes & Noble, Inc.                                                                           180,960 
         12,150            Bebe Stores, Inc.                                                                              212,625 
         1,900             Black & Decker Corp.                                                                           155,971 
         2,800             Brunswick Corp.                                                                                105,644 
         7,950             Bunge Ltd.                                                                                     418,329 
         5,200             Burlington Coat Factory Warehouse Corp.                                                        197,808 
         8,000             Burlington Northern Santa Fe Corp.                                                             478,400 
         20,200            Canwest Global Comm Corp. (b)                                                                  227,048 
         3,200             CBRL Group, Inc.                                                                               107,712 
         5,500             Centex Corp.                                                                                   355,190 
         3,700             Charming Shoppes, Inc. (b)                                                                      39,479 
         13,600            Chiquita Brands International, Inc.                                                            380,120 
         8,000             Circuit City Stores, Inc.                                                                      137,280 
         13,600            Coach, Inc. (b)                                                                                426,496 
         12,733            D. R. Horton, Inc.                                                                             461,189 
         1,300             Darden Restaurants, Inc.                                                                        39,481 
         3,000             Electronics Boutique Holdings Corp. (b)                                                        188,520 
         9,800             Finish Line                                                                                    142,982 
         1,835             Harrah's Entertainment, Inc.                                                                   119,624 
         2,750             Hovnanian Enterprises (b)                                                                      140,800 
         2,600             Innkeepers USA Trust                                                                            40,170 
         3,200             J.C. Penney Co., Inc.                                                                          151,744 
         1,100             Jack In the Box, Inc. (b)                                                                       32,901 
         7,500             K-Swiss, Inc.                                                                                  221,775 
         3,400             KB Home                                                                                        248,880 
         3,200             Lennar Corp.                                                                                   191,232 
         9,100             Longs Drug Stores Corp.                                                                        390,299 
         2,700             M/I Schottenstein Homes, Inc.                                                                  146,502 
         2,531             MDC Holdings, Inc.                                                                             199,671 
         2,300             Meritage Corp. (b)                                                                             176,318 
         5,000             MGM Grand, Inc. (b)                                                                            218,850 
         5,800             Movie Gallery, Inc.                                                                             60,262 
         1,100             Nasch Finch Co.                                                                                 46,409 
         5,600             Nordstrom, Inc.                                                                                192,192 
         380               NVR, Inc. (b)                                                                                  336,281 
         6,000             Orient-Express Hotel Ltd.                                                                      170,520 
         5,800             Phillips-Van Heusen Corp.                                                                      179,916 
         4,200             Pulte Homes, Inc.                                                                              180,264 
         8,600             Quiksilver, Inc. (b)                                                                           124,270 
         4,450             RARE Hospitality International, Inc. (b)                                                       114,365 
         3,700             Royal Caribbean Cruises Ltd.                                                                   159,840 
         4,100             Ryland Group, Inc.                                                                             280,522 
         8,200             Sauer-Danfoss, Inc.                                                                            164,000 
         12,900            SCP Pool Corp.                                                                                 450,597 
         2,200             Sears Holdings Corp. (b)                                                                       273,724 
         6,600             Standard-Pacific Corp.                                                                         273,966 
         3,100             Starwood Hotels & Resorts Worldwide, Inc.                                                      177,227 
         4,200             TBC Corp. (b)                                                                                  144,858 
         6,250             Technical Olympic USA, Inc.                                                                    163,500 
         10,800            The Children's Place, Inc. (b)                                                                 384,912 
         14,800            The Great Atlantic & Pacific Tea Co., Inc. (b)                                                 419,728 
         3,600             Toll Brothers, Inc. (b)                                                                        160,812 
         1,300             United Fire & Casualty                                                                          58,643 
         9,200             Urban Outfitters, Inc. (b)                                                                     270,480 
         5,500             Vail Resorts, Inc. (b)                                                                         158,125 
         4,750             Wci Communities, Inc. (b)                                                                      134,758 
         3,500             YUM! Brands, Inc.                                                                              169,435 
                                                                                                                          ------- 
                                                                                                                       13,683,416 
                                                                                                                       ---------- 
Consumer Staples  (4.9%):                                                                                                         
         16,500            7-ELEVEN, Inc. (b)                                                                             587,565 
         1,500             American Greetings Corp., Class A                                                               41,100 
         17,400            Archer-Daniels-Midland Co.                                                                     429,084 
         8,400             Brascan Corp.                                                                                  391,440 
         11,400            Chattem, Inc. (b)                                                                              404,700 
         16,600            Constellation Brands, Inc. (b)                                                                 431,600 
         1,600             Corn Products International, Inc.                                                               32,272 
         15,600            CVS Corp.                                                                                      452,556 
         18,000            Flowers Foods, Inc.                                                                            491,040 
         12,900            Pilgrim's Pride Corp.                                                                          469,560 
         9,200             Ralcorp Holding, Inc.                                                                          385,664 
                                                                                                                          ------- 
                                                                                                                        4,116,581 
                                                                                                                       ---------- 
Energy  (7.9%):                                                                                                                   
         700               Ashland, Inc.                                                                                   38,668 
         4,800             Atwood Oceanics, Inc. (b)                                                                      404,208 
         600               BP Amoco PLC - ADR                                                                              42,510 
         5,800             Burlington Resources, Inc.                                                                     471,656 
         1,000             Cimarex Energy Co. (b)                                                                          45,330 
         4,000             ConocoPhillips                                                                                 279,640 
         12,400            Grand Prideco, Inc. (b)                                                                        504,060 
         6,500             Helmerich & Payne, Inc.                                                                        392,535 
         5,400             Hydril (b)                                                                                     370,656 
         2,165             Marathon Oil Corp.                                                                             149,233 
         2,400             Methanex Corp.                                                                                  35,688 
         4,200             Murphy Oil Corp.                                                                               209,454 
         3,200             Occidental Petroleum Corp.                                                                     273,376 
         1,200             Offshore Logistics (b)                                                                          44,400 
         12,600            Oil States International, Inc. (b)                                                             457,506 
         7,600             Precision Drilling (b)                                                                         373,920 
         9,000             Remington Oil & Gas Corp. (b)                                                                  373,500 
         1,300             South Jersey Industries, Inc.                                                                   37,882 
         11,200            Todco                                                                                          467,152 
         5,500             Transocean Sedco Forex, Inc. (b)                                                               337,205 
         6,500             Unit Corp. (b)                                                                                 359,320 
         4,841             Valero Energy Corp.                                                                            547,324 
         9,554             XTO Energy, Inc.                                                                               432,987 
                                                                                                                          ------- 
                                                                                                                        6,648,210 
                                                                                                                       ---------- 
Financials  (7.9%):                                                                                                               
         1,500             Advanta Corp., Class A                                                                          39,090 
         1,400             American Physicians Capital, Inc. (b)                                                           68,782 
         11,500            American Real Estate Partners, L.P.                                                            431,250 
         3,700             Beverly Hills Bancorp Inc                                                                       37,962 
         9,800             CB Richard Ellis Group, Inc. (b)                                                               482,160 
         18,000            Center Financial Corp.                                                                         423,000 
         800               Commerce Group, Inc.                                                                            46,416 
         14,250            CompuCredit Corp. (b)                                                                          632,984 
         13,100            Countrywide Credit Industries, Inc.                                                            432,038 
         11,200            Credicorp Ltd.                                                                                 319,984 
         5,142             Fidelity National Financial, Inc.                                                              228,922 
         5,100             First American Financial Corp.                                                                 232,917 
         6,150             First Republic Bancorp, Inc.                                                                   216,665 
         3,000             Golden West Financial Corp.                                                                    178,170 
         9,800             Jones Lang LaSalle, Inc.                                                                       451,388 
         9,950             Nelnet, Inc. (b)                                                                               378,200 
         800               New Century Financial Corp                                                                      29,016 
         4,600             Philadelphia Consolidated Holdings Corp.                                                       390,540 
         1,700             Progressive Corp.                                                                              178,109 
         1,400             Provident Financial Holdings, Inc.                                                              39,270 
         1,600             Safety Insurance Group, Inc.                                                                    56,944 
         7,300             Shinhan Finnancial Group Co., Ltd ADR                                                          506,255 
         7,200             Sovereign Bancorp                                                                              158,688 
         700               Stancorp Financial Group, Inc.                                                                  58,940 
         1,400             Taylor Capital Group Inc.                                                                       52,948 
         2,100             Universal American Financial Corp. (b)                                                          47,754 
         7,700             Ventas, Inc.                                                                                   247,940 
         3,500             WFS Financial, Inc. (b)                                                                        235,165 
         1,100             Yardville National Bancorp                                                                      38,775 
                                                                                                                           ------ 
                                                                                                                        6,640,272 
                                                                                                                       ---------- 
Health Care  (16.9%):                                                                                                             
         6,600             Aetna US Healthcare, Inc.                                                                      568,524 
         900               Amerigroup Corp. (b)                                                                            17,208 
         8,400             Apria Healthcare Group, Inc. (b)                                                               268,044 
         4,300             Bausch & Lomb, Inc.                                                                            346,924 
         6,100             Becton, Dickinson & Co.                                                                        319,823 
         7,900             Biosite, Inc. (b)                                                                              488,694 
         17,200            Caremark Rx, Inc. (b)                                                                          858,796 
         1,200             Centene Corp (b)                                                                                30,036 
         6,200             Cerner Corp. (b) (d)                                                                           538,966 
         11,100            Community Health Care, Inc. (b)                                                                430,791 
         10,077            Cooper Companies, Inc.                                                                         771,999 
         7,400             Coventry Health Care, Inc. (b)                                                                 636,548 
         12,600            Dade Behring Holdings, Inc.                                                                    461,916 
         11,700            DaVita, Inc. (b)                                                                               539,019 
         4,900             Dentsply International, Inc.                                                                   264,698 
         1,900             First Horizon Pharmaceutical Corp. (b)                                                          37,753 
         9,300             Genesis Healthcare Corp. (b)                                                                   374,976 
         1,000             Haemonetics Corp. (b)                                                                           47,530 
         14,300            Humana, Inc. (b)                                                                               684,684 
         800               Intuitive Surgical, Inc.. (b)                                                                   58,632 
         15,950            Medcath Corp Com (b)                                                                           378,813 
         39,600            Option Care, Inc.                                                                              579,744 
         9,700             PacifiCare Health Systems, Inc. (b)                                                            773,866 
         5,500             Pediatrix Medical Group, Inc. (b)                                                              422,510 
         7,000             Quest Diagnostics, Inc.                                                                        353,780 
         10,200            Renal Care Group, Inc. (b)                                                                     482,664 
         1,000             Sfbc International, Inc. (b)                                                                    44,390 
         11,500            Sierra Health Services, Inc. (b)                                                               792,005 
         28,000            Thoratec Corp. (b)                                                                             497,280 
         15,652            UnitedHealth Group, Inc.                                                                       879,641 
         23,600            Ventiv Health, Inc. (b)                                                                        618,556 
         10,800            Wellpoint, Inc. (b)                                                                            818,856 
                                                                                                                          ------- 
                                                                                                                       14,387,666 
                                                                                                                       ---------- 
Industrials  (12.8%):                                                                                                             
         1,900             Agrium Inc.                                                                                     41,743 
         5,400             Albany International Corp.                                                                     199,098 
         8,100             AMERCO                                                                                         471,339 
         1,500             Applied Industrial Tech, Inc.                                                                   53,820 
         1,200             Arkansas Best Corp.                                                                             41,844 
         1,500             Aviall, Inc. (b)                                                                                50,670 
         11,800            Canadia Pacific Railway                                                                        506,928 
         18,600            Cendant Corp.                                                                                  383,904 
         10,800            Dollar Thrifty Automotive Group, Inc. (b)                                                      363,636 
         9,100             DRS Technologies, Inc.                                                                         449,176 
         3,800             Electro Rent Corp. (b)                                                                          47,804 
         2,500             Fedex Corp.                                                                                    217,825 
         15,500            Firstservice Corp. (b)                                                                         355,725 
         8,300             Flowserve Corp. (b)                                                                            301,705 
         10,800            Gardner Denver, Inc. (b)                                                                       481,680 
         6,800             Genlyte Group (b)                                                                              326,944 
         15,000            Hornbeck Offshore Services, Inc. (b)                                                           549,450 
         1,000             Idex Corp.                                                                                      42,550 
         12,800            J.B. Hunt Transport Services, Inc.                                                             243,328 
         4,000             L-3 Communications Corp.                                                                       316,280 
         19,000            Labor Ready, Inc. (b)                                                                          487,350 
         17,000            Laidlaw International, Inc.                                                                    410,890 
         16,200            McGrath Rentcorp                                                                               458,946 
         12,000            Mobile Mini, Inc. (b)                                                                          520,200 
         3,300             PACCAR, Inc.                                                                                   224,037 
         13,750            Shaw Group, Inc. (b)                                                                           339,075 
         8,200             Simpson Manufacturing Co., Inc.                                                                320,948 
         12,000            Teledyne Technologies, Inc. (b)                                                                413,640 
         5,600             Terex Corp. (b)                                                                                276,808 
         7,200             Timken Co.                                                                                     213,336 
         9,300             USG Corp. (b)                                                                                  639,096 
         8,400             Washington Group International, Inc. (b)                                                       452,676 
         11,000            West Corp. (b)                                                                                 411,290 
         3,585             Yellow Roadway Corp. (b)                                                                       148,491 
                                                                                                                          ------- 
                                                                                                                       10,762,232 
                                                                                                                       ---------- 
Materials  (5.0%):                                                                                                                
         4,944             Barrick Gold Corp.                                                                             143,623 
         1,900             Belden CDT, Inc.                                                                                36,917 
         2,200             Eastman Chemical Co.                                                                           103,334 
         1,200             Georgia Gulf Corp.                                                                              28,896 
         800               Grief Brothers Co.                                                                              48,080 
         3,100             Inco Ltd.                                                                                      146,785 
         5,500             Lyondell Chemical Co.                                                                          157,410 
         3,000             Monsanto Co.                                                                                   188,250 
         8,300             NS Group, Inc. (b)                                                                             325,775 
         7,500             Nucor Corp.                                                                                    442,425 
         4,000             Phelps Dodge Corp.                                                                             519,720 
         2,900             Potash Corporation of Saskatchewan, Inc.                                                       270,628 
         700               Potlatch Corp.                                                                                  36,484 
         6,000             Quanex Corp.                                                                                   397,320 
         4,500             Reliance Steel & Aluminum Co.                                                                  238,185 
         9,600             RTI International Metals, Inc. (b)                                                             377,760 
         5,000             Silgan Holdings, Inc.                                                                          166,300 
         5,900             Southern Peru Copper Corp.                                                                     330,164 
         2,600             The Dow Chemical Co.                                                                           108,342 
         10,000            USEC, Inc.                                                                                     111,600 
                                                                                                                          ------- 
                                                                                                                        4,177,998 
                                                                                                                       ---------- 
Real Estate Investment Trusts  (0.5%):                                                                                            
         9,600             CBL & Associates Properties, Inc.                                                              393,504 
                                                                                                                          ------- 
Technology  (16.2%):                                                                                                              
         20,800            Activision, Inc. (b)                                                                           425,360 
         2,400             Agilysys, Inc.                                                                                  40,416 
         11,900            Ansys, Inc. (b)                                                                                458,031 
         5,100             Anteon International Corp. (b)                                                                 218,076 
         30,200            Apple Computer, Inc. (b)                                                                     1,619,022 
         58,600            Arris Group, Inc. (b)                                                                          694,996 
         33,200            Autodesk, Inc.                                                                               1,541,808 
         32,500            Bottomline Technologies, Inc. (b)                                                              490,425 
         600               CACI International, Inc., Class A (b)                                                           36,360 
         10,800            EMC Corp. (b)                                                                                  139,752 
         47,000            Geac Computer (b)                                                                              438,040 
         11,800            Hutchinson Technology, Inc. (b)                                                                308,216 
         14,000            Intergraph Corp. (b)                                                                           625,940 
         21,100            Internet Security, Inc. (b)                                                                    506,611 
         11,600            Itron, Inc. (b)                                                                                529,656 
         33,300            Ixys Corp. (b)                                                                                 351,648 
         5,600             Jabil Circuit, Inc. (b)                                                                        173,152 
         19,000            Komag, Inc. (b)                                                                                607,240 
         1,500             McAfee,  Inc. (b)                                                                               47,130 
         14,600            Micros Systems, Inc. (b)                                                                       638,750 
         12,200            NCR Corp. (b)                                                                                  389,302 
         2,800             Netratings, Inc. (b)                                                                            42,616 
         18,400            NVIDIA Corp. (b)                                                                               630,752 
         6,700             Progress Software Corp. (b)                                                                    212,859 
         42,600            Radiant Systems, Inc. (b)                                                                      439,632 
         22,000            SBA Communications Corp. (b)                                                                   339,900 
         6,600             SRA International, Inc. (b)                                                                    234,168 
         22,300            TALX Corp.                                                                                     731,217 
         14,200            Verisign, Inc. (b)                                                                             303,454 
         42,800            Viscount Systems, Inc. (b)                                                                      34,197 
         12,176            Yahoo, Inc. (b)                                                                                412,036 
                                                                                                                          ------- 
                                                                                                                       13,660,762 
                                                                                                                       ---------- 
Telecommunications  (3.3%):                                                                                                       
         26,097            American Tower Corp.-Class A (b)                                                               651,120 
         8,500             Commonwealth Telephone Enterprises, Inc.                                                       320,450 
         18,252            Sprint Corp.                                                                                   434,033 
         5,000             Telephone & Data Systems, Inc.                                                                 187,750 
         5,000             Telephone & Data Systems, Inc.                                                                 195,000 
         12,400            Telus Corp.                                                                                    505,176 
         58,500            UbiquiTel, Inc. (b)                                                                            511,290 
                                                                                                                          ------- 
                                                                                                                        2,804,819 
                                                                                                                       ---------- 
Utilities  (3.0%):                                                                                                                
         25,000            AES Corp. (b)                                                                                  410,750 
         17,000            Allegheny Energy, Inc. (b)                                                                     522,240 
         4,900             Constellation Energy Group                                                                     301,840 
         7,600             Energen Corp.                                                                                  328,776 
         8,250             ONEOK, Inc.                                                                                    280,665 
         1,700             PNM Resources, Inc.                                                                             48,739 
         23,250            Sierra Pacific Resources (b)                                                                   345,263 
         11,000            UGI Corp.                                                                                      309,650 
                                                                                                                          ------- 
                                                                                                                        2,547,923 
Total Common Stocks (Cost $55,990,098)                                                                                 79,823,383 
                                                                                                                       ---------- 

Cash Equivalent  (5.4%):                                                                                                          
         4,568,479         Huntington Money Market Fund, Interfund Shares*                                              4,568,479 
                                                                                                                        --------- 
Total Cash Equivalent (Cost $4,568,479)                                                                                 4,568,479 
                                                                                                                        --------- 

         Shares or Principal                                                                                                      
         Amount                                                                                                             Value 

Short-Term Securities Held as Collateral                                                                                          
for Securities Lending (0.4%)                                                                                                     
Commerical Paper (0.1%):                                                                                                          
          $ 12,429    Cafco LLC, 3.74%, 11/21/2005                                                                        12,429  
         12,429       Ford Credit Floor Plan Master Owner Trust A, 2002-1 Motown, 3.82%, 11/18/2005                       12,429  
         5,006        Nieuw Amsterdam Receivables Corp., 3.74%, 11/22/2005                                                 5,006  
         6,282        Nieuw Amsterdam Receivables Corp., 3.87%, 12/21/2005                                                 6,283  
         8,596        Three Pillars Funding LLC, 3.70%, 10/14/2005                                                         8,596  
         5,248        Three Pillars Funding LLC, 3.80%, 10/28/2005                                                         5,248  
                                                                                                                       ---------- 
                                                                                                                          49,991  
                                                                                                                       ---------- 

Mutual Fund (0.0%):                                                                                                               
         173          JP Morgan Institutional Prime Money Market Fund, 3.61%, 10/03/2005                                     173  
                                                                                                                       ---------- 

Repurchase Agreements (0.1%):                                                                                                     
         49,714       JP Morgan Chase & Co., 3.88%, 10/03/2005                                                            49,714  
         24,857       JP Morgan Chase & Co., 3.88%, 10/03/2005                                                            24,857  
         51,440       UBS Securities LLC, 3.90%, 10/03/2005                                                               51,440  
                                                                                                                       ---------- 
                                                                                                                         126,011  
                                                                                                                       ---------- 

Time Deposit (0.0%):                                                                                                              
          7,457       Wells Fargo & Co., 3.94%, 10/03/2005                                                                 7,457  
                                                                                                                       ---------- 

Variable Rate Obligations (0.2%):                                                                                                 
         12,394       Bank One Issuance Trust Class A, 2004-4, 3.81%, 10/17/2005                                          12,394  
         7,457        Bank One Issuance Trust Class A, 2003-1, 3.82%, 10/17/2005                                           7,457  
         8,493        Citibank Credit Card Issuance Trust, Class 2002-A9, Series 2000, 3.89%, 12/15/2005                   8,493  
         3,970        Chase Credit Card Owner Trust Class A, 2004-2, 3.81%, 10/17/2005                                     3,970  
         12,429       Chase Credit Card Owner Trust Class A, 2004-2, 3.81%, 10/17/2005                                    12,429  
         6,214        Chase Credit Card Master Trust Class A, 2001-2, 3.81%, 10/17/2005                                    6,214  
         10,702       Chase Credit Card Owner Trust Class A, 2001-1, 3.81%, 10/17/2005                                    10,702  
         3,142        Chase Credit Card Owner Trust Class A, 2003-1, 3.81%, 10/17/2005                                     3,142  
         2,589        Chase Credit Card Owner Trust Class A, 2003-1, 3.82%, 10/17/2005                                     2,589  
         7,457        Chase Credit Card Owner Trust Class A, 2003-1, 3.83%, 10/17/2005                                     7,457  
         6,870        Daimler Chrysler Master Owner Trust, 2003-A, 3.82%, 10/17/2005                                       6,870  
         6,214        Deutsche Bank AG, 4.07%, 10/03/2005                                                                  6,214  
         6,214        Discover Card Master Trust Class A, 2003-1, 3.83%, 10/17/2005                                        6,214  
         6,698        Discover Card Master Trust Class A, 2001-2, 3.82%, 10/17/2005                                        6,698  
         2,348        General Electric Co., 4.15%, 7/15/2006                                                               2,348  
         12,429       HBOS Treasury Services PLC, 4.04%, 12/30/2005                                                       12,429  
         12,429       JP Morgan Securities, Inc., 3.92%, 12/02/2005                                                       12,429  
         2,486        MBNA Master Credit Card Trust II Class A, 1997-K, 3.81%, 10/17/2005                                  2,486  
         14,914       MBNA Master Credit Card Trust II Class A, 2000-K, 3.64%, 10/17/2005                                 14,914  
         9,943        Merril Lynch & Co., Inc., 3.90%, 12/15/2005                                                          9,943  
         6,214        Merril Lynch & Co., Inc., 4.07%, 10/03/2005                                                          6,214  
                                                                                                                       ---------- 
                                                                                                                         161,606  
                                                                                                                       ---------- 

Total Short-Term Securities Held as Collateral For                                                                                
Securities Lending (Cost $345,238)                                                                                       345,238  
                                                                                                                       ---------- 

Total Investments (Cost $60,903,815) (a)   -   100.4%                                                                  84,737,100 
Liabilities in Excess of Other Assets   -   (0.4)%                                                                      (349,285) 
                                                                                                                        --------- 

NET ASSETS   -   100.0%    $                                                                                           84,387,815 
                                                                                                                       ========== 
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington Rotating Markets Fund                                                                                                  
Portfolio of Investments                                                                                       September 30, 2005 
(Unaudited)                                                                                                                       

         Security                                                                                                                 
         Shares            Description                                                                                   Value    

Mutual Funds  (97.8%):                                                                                                            
         79,656            iShares EAFE Index Fund                                                                     $4,627,216 
         11,768            iShares MSCI Brazil Index Fund                                                                 392,110 
         30,150            iShares MSCI Canada Index Fund                                                                 650,336 
         17,123            iShares MSCI Emerging Markets Index Fund                                                     1,453,400 
         36,698            iShares MSCI EMU Index Fund                                                                  2,822,810 
         20,286            iShares MSCI Hong Kong Index Fund                                                              275,484 
         25,400            iShares MSCI Japan Index Fund                                                                  309,626 
         26,450            iShares MSCI Mexico Index Fund                                                                 866,502 
         10,000            iShares MSCI Pacific ex-Japan Index Fund                                                     1,031,500 
         61,659            iShares MSCI Singapore Index Fund                                                              492,039 
         43,497            iShares MSCI United Kingdom Index Fund                                                         824,703 
         50,013            iShares Russell 1000 Index Fund                                                              3,338,368 
         5,574             iShares Russell 3000 Value Index Fund                                                          500,601 
         17,547            iShares Russell Midcap Value Index Fund                                                      2,173,196 
         6,311             iShares S&P Latin America 40 Index Fund                                                        759,718 
         22,686            iShares S&P Small Cap 600 Index Fund                                                         1,311,705 
         11,285            iShares S&P SmallCap 600 BARRA Growth Index Fund                                             1,310,527 
         3,700             iShares U.S. Energy Sector Index Fund                                                          337,329 
         12,700            iShares U.S. Healthcare Sector Index Fund                                                      789,686 
         23,125            MidCap SPDR Trust Series 1 Index Fund                                                        3,026,600 
         12,100            Rydex S&P Equal Weight Index Fund                                                            1,969,154 
                                                                                                                        --------- 
Total Mutual Funds (Cost $23,205,357)                                                                                  29,262,610 
                                                                                                                       ---------- 

Cash Equivalent  (2.3%):                                                                                                          
         685,716           Huntington Money Market Fund, Interfund Shares*                                                685,716 
                                                                                                                          ------- 
Total Cash Equivalent (Cost $685,716)                                                                                     685,716 
                                                                                                                          ------- 

Total Investments (Cost $23,891,073) (a)   -   100.1%                                                                  29,948,326 
Liabilities in Excess of Other Assets   -   (0.1)%                                                                       (36,783) 
                                                                                                                         -------- 

NET ASSETS   -   100.0%    $                                                                                           29,911,543 
                                                                                                                       ========== 
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington                                                                                                                        
Situs Small Cap Fund                                                                                                              
Portfolio of Investments                                                                                                          
September 30, 2005                                                                                                                
(Unaudited)                                                                                                                       

   Shares or      Security                                                                                                        
   Principal Amount                                                           Description                                         
Value                                                                                                                             

Common Stocks  (94.6%):                                                                                                           
Australia  (0.5%):                                                                                                                
Industrials  (0.5%):                                                                                                              
   25,000         Orica Ltd.                                                     $400,259                                         
                                                                                  -------                                         
Cayman Islands  (1.6%):                                                                                                           
Consumer Discretionary  (1.6%):                                                                                                   
   19,800         Garmin Ltd. (d)                                               1,343,034                                         
                                                                                ---------                                         
Chile  (0.4%):                                                                                                                    
Materials  (0.4%):                                                                                                                
   2,400          Sociedad Quimica y Minera de Chile SA ADR                       302,976                                         
                                                                                  -------                                         
Denmark  (1.0%):                                                                                                                  
Energy  (0.6%):                                                                                                                   
   21,500         Vestas Wind Systems A/S (b)                                     519,465                                         
                                                                                  -------                                         
Health Care  (0.4%):                                                                                                              
   6,800          Novozymes A/S, Class B                                          350,499                                         
                                                                                  -------                                         
                                                                                  869,964                                         
                                                                               ----------                                         
Finland  (0.7%):                                                                                                                  
Industrials  (0.7%):                                                                                                              
   9,100          Cargotec Corp., Class B (b)                                     274,263                                         
   4,700          Kone Oyj, Class B (b)                                           319,113                                         
                                                                                  -------                                         
                                                                                  593,376                                         
                                                                               ----------                                         
Germany  (1.3%):                                                                                                                  
Consumer Staples  (0.8%):                                                                                                         
   10,000         Douglas Holding AG                                              380,340                                         
   3,867          Fielmann AG                                                     278,820                                         
                                                                                  -------                                         
                                                                                  659,160                                         
                                                                               ----------                                         
Health Care  (0.5%):                                                                                                              
   12,700         Stada Arzneimittel AG                                           454,798                                         
                                                                                  -------                                         
                                                                                1,113,958                                         
                                                                               ----------                                         
Hong Kong  (0.4%):                                                                                                                
Consumer Discretionary  (0.4%):                                                                                                   
   58,000         Television Broadcasts Ltd.                                      354,785                                         
                                                                                  -------                                         
Ireland  (0.3%):                                                                                                                  
Consumer Staples  (0.3%):                                                                                                         
   12,000         Kerry Group PLC                                                 280,478                                         
                                                                                  -------                                         
Italy  (0.4%):                                                                                                                    
Energy  (0.4%):                                                                                                                   
   22,200         Saipem SPA                                                      374,291                                         
                                                                                  -------                                         
Japan  (1.7%):                                                                                                                    
Consumer Discretionary  (0.0%):                                                                                                   
   90             Hokuto Corp.                                                      1,567                                         
                                                                                    -----                                         
Consumer Staples  (0.2%):                                                                                                         
   14,000         Fuji Oil Co. Ltd.                                               135,066                                         
                                                                                  -------                                         
Health Care  (0.7%):                                                                                                              
   33,000         Tanabe Seiyaku Co. Ltd.                                         333,489                                         
   10,900         Terumo Corp.                                                    350,529                                         
                                                                                  -------                                         
                                                                                  684,018                                         
                                                                               ----------                                         
Industrials  (0.4%):                                                                                                              
   13,600         Sato Corp.                                                      314,537                                         
                                                                                  -------                                         
Technology  (0.4%):                                                                                                               
   32,000         Furuno Electric Co. Ltd.                                        337,762                                         
                                                                                  -------                                         
                                                                                1,472,950                                         
                                                                               ----------                                         
Singapore  (0.5%):                                                                                                                
Consumer Staples  (0.5%):                                                                                                         
   74,000         Asia Pacific Breweries Ltd.                                     393,687                                         
                                                                                  -------                                         
Spain  (0.5%):                                                                                                                    
Technology  (0.5%):                                                                                                               
   15,000         Prosegur Compania de Seguridad                                  389,353                                         
                                                                                  -------                                         
   SA                                                                                                                             
Sweden  (0.4%):                                                                                                                   
Consumer Discretionary  (0.4%):                                                                                                   
   19,200         Haldex AB                                                       365,363                                         
                                                                                  -------                                         
Switzerland  (0.4%):                                                                                                              
Consumer Staples  (0.4%):                                                                                                         
   22             Lindt & Spruengli AG                                            363,777                                         
                                                                                  -------                                         
United Kingdom  (1.5%):                                                                                                           
Consumer Staples  (0.4%):                                                                                                         
   31,189         Bunzl PLC                                                       312,428                                         
                                                                                  -------                                         
Materials  (0.7%):                                                                                                                
   14,000         Antofagasta PLC                                                 383,196                                         
   56,050         Filtrona PLC                                                    270,849                                         
                                                                                  -------                                         
                                                                                  654,045                                         
                                                                               ----------                                         
Technology  (0.4%):                                                                                                               
   121,000        Halma PLC                                                       314,760                                         
                                                                                  -------                                         
                                                                                1,281,233                                         
                                                                               ----------                                         
United States  (83.0%):                                                                                                           
Consumer Discretionary  (9.7%):                                                                                                   
   20,000         AnnTaylor Stores Corp. (b)                                      531,000                                         
   49,900         Audiovox Corp., Class A (b)                                     697,602                                         
   20,050         Brunswick Corp.                                                 756,487                                         
   8,500          Columbia Sportswear Co. (b)                                     394,400                                         
   37,050         Fossil, Inc. (b)                                                673,940                                         
   13,700         Kerzner International Ltd. (b)                                  761,035                                         
   5,362          MDC Holdings, Inc.                                              423,008                                         
   14,200         Polo Ralph Lauren Corp.                                         714,260                                         
   22,100         Reebok International Ltd.                                     1,250,197                                         
   13,850         RENT-A-CENTER, Inc. (b)                                         267,444                                         
   7,200          Thor Industries, Inc.                                           244,800                                         
   42,600         Urban Outfitters, Inc. (b)                                    1,252,439                                         
   21,900         West Marine, Inc. (b)                                           323,682                                         
                                                                                  -------                                         
                                                                                8,290,294                                         
                                                                               ----------                                         
Consumer Staples  (2.0%):                                                                                                         
   27,977         Fresh Del Monte Produce, Inc.                                   761,534                                         
   30,500         Performance Food Group Co. (b)                                  962,580                                         
                                                                                  -------                                         
                                                                                1,724,114                                         
                                                                               ----------                                         
Energy  (12.6%):                                                                                                                  
   10,000         CARBO Ceramics, Inc.                                            659,900                                         
   27,600         Denbury Resources, Inc. (b)                                   1,392,144                                         
   36,500         Headwaters, Inc. (b)                                          1,365,100                                         
   16,200         Houston Exploration Co. (b)                                   1,089,450                                         
   14,300         Hydril Co. (b)                                                  981,552                                         
   20,144         National-Oilwell Varco, Inc. (b)                              1,325,475                                         
   15,400         Newfield Exploration Co. (b)                                    756,140                                         
   16,000         Remington Oil & Gas Corp. (b)                                   664,000                                         
   13,000         Spinnaker Exploration Co. (b)                                   840,970                                         
   16,500         Veritas DGC, Inc. (b)                                           604,230                                         
   24,554         XTO Energy, Inc.                                              1,112,787                                         
                                                                                ---------                                         
                                                                               10,791,748                                         
                                                                               ----------                                         
Financials  (11.0%):                                                                                                              
   27,600         Arch Capital Group Ltd. (b)                                   1,368,684                                         
   30,000         Bancshares of Florida, Inc (b)                                  663,600                                         
   15,800         CBL & Associates Properties, Inc.                               647,642                                         
   55,400         Colonial Bancgroup, Inc.                                      1,240,960                                         
   30,000         Cullen/Frost Bankers, Inc.                                    1,480,200                                         
   8,000          Healthcare Realty Trust, Inc.                                   321,120                                         
   10,900         HRPT Properties Trust                                           135,269                                         
   20,000         Main Street Banks, Inc.                                         536,000                                         
   10,841         SCBT Financial Corp.                                            342,359                                         
   52,800         Scottish Annuity & Life Holdings                              1,258,752                                         
                  Ltd.                                                                                                            
   4,488          TD Banknorth, Inc.                                              135,268                                         
   2,153          Toronto-Dominion Bank                                           106,186                                         
   18,800         WSFS Financial Corp.                                          1,107,132                                         
                                                                                ---------                                         
                                                                                9,343,172                                         
                                                                               ----------                                         
Health Care  (12.4%):                                                                                                             
   60,000         Albany Molecular Research (b)                                   730,800                                         
   18,500         Bio-Rad Laboratories, Inc., Class A (b)                       1,017,315                                         
   25,800         Cerner Corp. (b) (d)                                          2,242,794                                         
   9,200          Coventry Health Care, Inc. (b)                                  791,384                                         
   28,700         Edwards Lifesciences Corp. (b)                                1,274,567                                         
   38,000         Intermagnetics General Corp. (b)                              1,061,720                                         
   20,000         Kindred Healthcare, Inc. (b)                                    596,000                                         
   38,400         Mentor Corp.                                                  2,112,384                                         
   9,300          Par Pharmaceutical, Inc. (b)                                    247,566                                         
   8,100          Unitedhealth Group, Inc.                                        455,220                                         
                                                                                  -------                                         
                                                                               10,529,750                                         
                                                                               ----------                                         
Industrials  (14.3%):                                                                                                             
   10,000         Alliant Techsystems, Inc. (b)                                   746,500                                         
   20,000         American Woodmark Corp.                                         672,000                                         
   31,000         Armor Holdings, Inc. (b)                                      1,333,310                                         
   8,600          Banta Corp.                                                     437,654                                         
   13,900         CDI Corp.                                                       410,606                                         
   20,000         ElkCorp                                                         715,400                                         
   30,000         Jacobs Engineering Group, Inc. (b)                            2,022,000                                         
   42,400         Precision Castparts Corp.                                     2,251,440                                         
   8,000          Ryder System, Inc.                                              273,760                                         
   12,700         Timken Co.                                                      376,301                                         
   41,400         Universal Forest Products, Inc.                               2,373,047                                         
   28,750         Werner Enterprises, Inc.                                        497,088                                         
                                                                                  -------                                         
                                                                               12,109,106                                         
                                                                               ----------                                         
Materials  (7.1%):                                                                                                                
   11,000         Albemarle Corp.                                                 414,700                                         
   36,900         Florida Rock Industries                                       2,364,921                                         
   3,900          Quanex Corp.                                                    258,258                                         
   38,500         RTI International Metals, Inc. (b)                            1,514,975                                         
   27,300         Steel Technologies, Inc.                                        707,889                                         
   9,000          The Scotts Co., Class A                                         791,370                                         
                                                                                  -------                                         
                                                                                6,052,113                                         
                                                                               ----------                                         
Technology  (11.3%):                                                                                                              
   17,000         Black Box Corp.                                                 713,320                                         
   23,000         Compuware Corp. (b)                                             218,500                                         
   27,000         eSPEED, Inc., Class A (b)                                       204,660                                         
   27,000         Global Imaging Systems, Inc. (b)                                919,350                                         
   30,300         Hutchinson Technology, Inc. (b)                                 791,436                                         
   14,150         Imation Corp.                                                   606,611                                         
   43,200         Intergraph Corp. (b)                                          1,931,472                                         
   47,600         Methode Electronics, Inc.                                       548,352                                         
   50,900         Standard Microsystems Corp. (b)                               1,522,419                                         
   20,000         StarTek, Inc.                                                   264,000                                         
   13,144         Tektronix, Inc.                                                 331,623                                         
   57,900         Transaction Systems Architects, Inc. (b)                      1,612,515                                         
                                                                                ---------                                         
                                                                                9,664,258                                         
                                                                               ----------                                         
Telecommunications  (0.2%):                                                                                                       
   19,000         General Communication, Inc., Class A (b)                        188,100                                         
                                                                                  -------                                         
Utilities  (2.4%):                                                                                                                
   19,900         Hawaiian Electric Industries, Inc.                              554,812                                         
   10,100         Northwest Natural Gas Co.                                       375,922                                         
   40,500         UGI Corp.                                                     1,140,075                                         
                                                                                ---------                                         
                                                                                2,070,809                                         
                                                                               70,763,464                                         
Total Common Stocks (Cost $53,534,934)                                         80,662,948                                         
                                                                               ----------                                         

Cash Equivalent  (4.2%):                                                                                                          
   3,594,918      Huntington Money Market Fund, Interfund Shares *              3,594,918                                         
                                                                                ---------                                         
Total Cash Equivalent (Cost $3,594,918)                                         3,594,918                                         
                                                                                ---------                                         

Shares or Principal                                                                                                               
Amount                                                                              Value                                         

Short-Term Securities Held as Collateral                                                                                          
for Securities Lending  (3.4%)                                                                                                    
Commerical Paper (0.5%):                                                                                                          
$103,095       Cafco LLC, 3.74%, 11/21/2005                                      103,095                                          
103,095        Ford Credit Floor Plan Master Owner Trust A, 2002-1 Motown, 3.82%,                                                 
11/18/2005     103,095                                                                                                            
41,524         Nieuw Amsterdam Receivables Corp., 3.74%, 11/22/2005               41,524                                          
52,119         Nieuw Amsterdam Receivables Corp., 3.87%, 12/21/2005               52,119                                          
71,307         Three Pillars Funding LLC, 3.70%, 10/14/2005                       71,307                                          
43,529         Three Pillars Funding LLC, 3.80%, 10/28/2005                       43,529                                          
                                                                              ----------                                          
                                                                                 414,669                                          
                                                                              ----------                                          

Mutual Fund (0.0%):                                                                                                               
1,432          JP Morgan Institutional Prime Money Market Fund, 3.61%, 10/03/2005  1,432                                          
                                                                              ----------                                          

Repurchase Agreements (1.2%):                                                                                                     
412,378        JP Morgan Chase & Co., 3.88%, 10/03/2005                          412,378                                          
206,189        JP Morgan Chase & Co., 3.88%, 10/03/2005                          206,189                                          
426,697        UBS Securities LLC, 3.90%, 10/03/2005                             426,697                                          
                                                                              ----------                                          
                                                                               1,045,264                                          
                                                                              ----------                                          

Time Deposit (0.1%):                                                                                                              
61,857         Wells Fargo & Co., 3.94%, 10/03/2005                               61,857                                          
                                                                              ----------                                          

Variable Rate Obligations (1.6%):                                                                                                 
102,808        Bank One Issuance Trust Class A, 2004-4, 3.81%, 10/17/2005        102,808                                          
61,857         Bank One Issuance Trust Class A, 2003-1, 3.82%, 10/17/2005         61,857                                          
70,448         Citibank Credit Card Issuance Trust, Class 2002-A9, Series                                                         
                2000, 3.89%, 12/15/2005                                           70,448                                          
32,933         Chase Credit Card Owner Trust Class A, 2004-2, 3.81%, 10/17/2005   32,933                                          
103,095        Chase Credit Card Owner Trust Class A, 2004-2, 3.81%, 10/17/2005  103,095                                          
51,547         Chase Credit Card Master Trust Class A, 2001-2, 3.81%, 10/17/2005  51,547                                          
88,776         Chase Credit Card Owner Trust Class A, 2001-1, 3.81%, 10/17/2005   88,776                                          
26,060         Chase Credit Card Owner Trust Class A, 2003-1, 3.81%, 10/17/2005   26,060                                          
21,478         Chase Credit Card Owner Trust Class A, 2003-1, 3.82%, 10/17/2005   21,478                                          
61,857         Chase Credit Card Owner Trust Class A, 2003-1, 3.83%, 10/17/2005   61,857                                          
56,988         Daimler Chrysler Master Owner Trust, 2003-A, 3.82%, 10/17/2005     56,988                                          
51,547         Deutsche Bank AG, 4.07%, 10/03/2005                                51,547                                          
51,547         Discover Card Master Trust Class A, 2003-1, 3.83%, 10/17/2005      51,547                                          
55,557         Discover Card Master Trust Class A, 2001-2, 3.82%, 10/17/2005      55,557                                          
19,473         General Electric Co., 4.15%, 7/15/2006                             19,473                                          
103,095        HBOS Treasury Services PLC, 4.04%, 12/30/2005                     103,095                                          
103,095        JP Morgan Securities, Inc., 3.92%, 12/02/2005                     103,095                                          
20,619         MBNA Master Credit Card Trust II Class A, 1997-K, 3.81%,                                                           
                 10/17/2005                                                       20,619                                          
123,713        MBNA Master Credit Card Trust II Class A, 2000-K, 3.64%,                                                           
                 10/17/2005                                                      123,713                                          
82,476         Merril Lynch & Co., Inc., 3.90%, 12/15/2005                        82,476                                          
51,547         Merril Lynch & Co., Inc., 4.07%, 10/03/2005                        51,547                                          
                                                                              ----------                                          
                                                                               1,340,516                                          
                                                                              ----------                                          

Total Short-Term Securities Held as Collateral For                                                                                
Securities Lending (Cost $2,863,738)                                           2,863,738                                          
                                                                              ----------                                          

Total Investments (Cost $59,993,590) (a)-102.2%                                87,121,604                                         
Liabilities in Excess of Other Assets-(2.2)%                                  (1,888,918)                                         
                                                                              -----------                                         

NET ASSETS-100.0%                                                         $    85,232,686                                         
                                                                               ==========                                         
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington Fixed Income Securities Fund                                                                                           
Portfolio of Investments                                                                                       September 30, 2005 
(Unaudited)                                                                                                                       

       Principal           Security                                                                                               
       Amount or Shares    Description                                                                                      Value 

Corporate Bonds  (43.4%):                                                                                                         
Auto/Truck Parts & Equipment  (0.6%):                                                                                             
       $1,000,000          Carlisle Cos., Inc., 7.250%, 1/15/07                                                        $1,025,541 
                                                                                                                        --------- 
Banks  (1.2%):                                                                                                                    
       1,000,000           First Tennessee Bank, 6.400%, 4/1/08                                                         1,038,295 
       1,000,000           KeyCorp, 6.750%, 3/15/06                                                                     1,009,899 
                                                                                                                        --------- 
                                                                                                                        2,048,194 
                                                                                                                       ---------- 
Building & Construction  (1.0%):                                                                                                  
       1,500,000           Hanson PLC, 7.875%, 9/27/10                                                                  1,681,361 
                                                                                                                        --------- 
Business Services  (0.6%):                                                                                                        
       1,000,000           The Reynold & Reynolds Co., 7.000%, 12/15/06                                                 1,004,042 
                                                                                                                        --------- 
Data Processing and Preparation  (1.0%):                                                                                          
       1,800,000           Affiliated Computer Services, 5.200%, 6/1/15                                                 1,754,581 
                                                                                                                        --------- 
Diversified Financial Services  (7.4%):                                                                                           
       2,000,000           American General Finance Corp., 6.100%, 5/22/06                                              2,021,020 
       1,000,000           General Electric Capital Corporation, 6.750%, 3/15/32                                        1,176,228 
       1,000,000           Household Financial Corp., 5.750%, 1/30/07                                                   1,015,510 
       2,000,000           HSBC Finance Corp., 5.625%, 6/15/20                                                          1,927,498 
       3,000,000           Lehman Brothers Holdings, 7.500%, 9/1/06                                                     3,070,445 
       1,000,000           MBNA America Bank N.A., 6.500%, 6/20/06 (c)                                                  1,014,294 
       1,000,000           Morgan Stanley Dean Witter & Co., 6.750%, 10/15/13                                           1,105,951 
       1,000,000           The Bear Stearns Cos., Inc., 6.500%, 5/1/06                                                  1,012,036 
                                                                                                                        --------- 
                                                                                                                       12,342,982 
                                                                                                                       ---------- 
Diversified Manufacturing  (1.9%):                                                                                                
       2,000,000           Eaton Corp., 8.900%, 8/15/06                                                                 2,065,600 
       1,000,000           Norsk Hydro AS, 6.700%, 1/15/18                                                              1,130,100 
                                                                                                                        --------- 
                                                                                                                        3,195,700 
                                                                                                                       ---------- 
Diversified Telecommunications  (0.7%):                                                                                           
       1,000,000           Alltel Ohio LP, 8.000%, 8/15/10 (c)                                                          1,135,149 
                                                                                                                        --------- 
Electrical Services  (3.2%):                                                                                                      
       1,000,000           Atlantic City Electric, 6.750%, 5/12/08                                                      1,041,789 
       1,000,000           Cincinnati Gas & Electric Co., 6.400%, 4/1/08                                                1,036,422 
       1,000,000           Cinergy Global Resources, 6.200%, 11/3/08 (c)                                                1,038,150 
       1,000,000           CLECO Corp., 6.520%, 5/15/09                                                                 1,045,217 
       1,300,000           Gulf Power Co., 4.900%, 10/1/14                                                              1,288,075 
                                                                                                                        --------- 
                                                                                                                        5,449,653 
                                                                                                                       ---------- 
Electronic Components  (0.6%):                                                                                                    
       1,000,000           Philips Electronics NV, 8.375%, 9/15/06                                                      1,034,606 
                                                                                                                        --------- 
Electronic Equipment & Instruments  (2.2%):                                                                                       
       1,000,000           Cooper Industries, Inc., 5.250%, 7/1/07                                                      1,009,005 
       2,460,000           Thermo Electron Corp., 7.625%, 10/30/08                                                      2,645,627 
                                                                                                                        --------- 
                                                                                                                        3,654,632 
                                                                                                                       ---------- 
Finance  (1.2%):                                                                                                                  
       2,000,000           SLM Corp., Series A, 5.375%, 1/15/13                                                         2,052,494 
                                                                                                                        --------- 
Health Services  (2.3%):                                                                                                          
       1,400,000           Allegiance Corp., 7.300%, 10/15/06                                                           1,434,796 
       2,500,000           Wellpoint, Inc., 4.250%, 12/15/09                                                            2,445,385 
                                                                                                                        --------- 
                                                                                                                        3,880,181 
                                                                                                                       ---------- 
Insurance  (2.4%):                                                                                                                
       1,000,000           Metlife, Inc., 5.000%, 11/24/13                                                                994,462 
       2,000,000           Protective Life Corp., 5.875%, 8/15/06 (c)                                                   2,020,332 

       1,000,000           SunAmerica, Inc., 6.750%, 10/1/07                                                            1,037,326 
                                                                                                                        --------- 
                                                                                                                        4,052,120 
                                                                                                                       ---------- 
Metals & Mining  (1.9%):                                                                                                          
       3,000,000           Barrick Gold Corp., 7.500%, 5/1/07                                                           3,127,851 
                                                                                                                        --------- 
Multimedia  (0.6%):                                                                                                               
       1,000,000           E.W. Scripps Co., 6.625%,                                                                    1,041,924 
                                                                                                                        --------- 
                           10/15/07                                                                                               
Petroleum & Petroleum Products  (2.0%):                                                                                           
       1,000,000           Kinder Morgan Energy Partners, 6.800%, 3/1/08                                                1,044,430 
       2,000,000           Kinder Morgan Energy Partners, 7.400%, 3/15/31                                               2,327,962 
                                                                                                                        --------- 
                                                                                                                        3,372,392 
                                                                                                                       ---------- 
Pipelines  (0.5%):                                                                                                                
       750,000             Trans-Canada Pipelines, 9.125%, 4/20/06                                                        768,032 
                                                                                                                          ------- 
Printing & Publishing  (0.8%):                                                                                                    
       1,200,000           Knight-Ridder, Inc., 9.875%, 4/15/09                                                         1,380,370 
                                                                                                                        --------- 
Railroads  (1.8%):                                                                                                                
       1,000,000           Atchison Topeka & Santa Fe Railroad, 6.550%, 7/1/06                                          1,014,717 
       2,080,000           Union Pacific Corp., 5.214%, 9/30/14                                                         2,095,413 
                                                                                                                        --------- 
                                                                                                                        3,110,130 
                                                                                                                       ---------- 
Real Estate Investment Trusts  (5.5%):                                                                                            
       1,045,000           Avalon Properties, 6.875%, 12/15/07                                                          1,088,315 
       1,500,000           CPG Partners LP, 3.500%, 3/15/09                                                             1,430,682 
       2,000,000           Duke Realty LP, 3.500%, 11/1/07                                                              1,945,856 
       1,000,000           MACK-CALI Realty LP, 7.750%, 2/15/11                                                         1,118,409 
       580,000             Simon Property Group LP, 7.375%, 1/20/06                                                       584,740 
       1,949,000           Simon Property Group LP, 6.875%, 11/15/06                                                    1,978,457 
       1,000,000           Weingarten Realty Investment, 7.350%, 7/20/09                                                1,098,825 
                                                                                                                        --------- 
                                                                                                                        9,245,284 
                                                                                                                       ---------- 
Reinsurance  (2.5%):                                                                                                              
       2,000,000           General Electric Global Insurance Holding Corp., 7.500%, 6/15/10                             2,175,684 
       2,050,000           RenaissanceRe Holdings Ltd., 5.875%, 2/15/13                                                 2,055,529 
                                                                                                                        --------- 
                                                                                                                        4,231,213 
                                                                                                                       ---------- 
Retail  (1.5%):                                                                                                                   
       2,500,000           Tandy Corp., 6.950%, 9/1/07                                                                  2,587,865 
                                                                                                                        --------- 
Total Corporate Bonds (Cost $72,686,870)                                                                               73,176,297 
                                                                                                                       ---------- 

U.S. Treasury Obligations (30.3%): U.S. Treasury Bonds (9.5%):                                                                    
       2,000,000           8.750%, 8/15/20                                                                              2,894,610 
       2,000,000           6.000%, 2/15/26                                                                              2,358,750 
       2,000,000           6.750%, 8/15/26                                                                              2,563,360 
       1,500,000           5.250%, 11/15/28                                                                             1,633,946 
       3,000,000           6.250%, 5/15/30                                                                              3,725,040 
       2,500,000           5.375%, 2/15/31                                                                              2,800,780 
                                                                                                                        --------- 
                                                                                                                       15,976,486 
                                                                                                                       ---------- 
U.S. Treasury Notes (20.8%):                                                                                                      
       5,750,000           3.125%, 10/15/08                                                                             5,575,705 
       7,500,000           5.750%, 8/15/10                                                                              7,998,922 
       2,000,000           4.000%, 11/15/12                                                                             1,967,422 
       5,000,000           4.250%, 8/15/13                                                                              4,982,810 
       3,000,000           2.000%, 7/15/14                                                                              3,176,794 
       3,500,000           4.250%, 8/15/14                                                                              3,478,125 
       2,000,000           7.500%, 11/15/16                                                                             2,531,406 
       4,500,000           6.125%, 8/15/29                                                                              5,478,575 
                                                                                                                        --------- 
                                                                                                                       35,189,759 
Total U.S. Treasury Obligations (Cost $49,115,635)                                                                     51,166,245 
                                                                                                                       ---------- 

U.S. Government Agencies (23.3%): Federal Farm Credit Bank (1.2%):                                                                
       2,000,000           3.625%, 7/28/08                                                                              1,955,790 
                                                                                                                        --------- 
Federal Home Loan Bank  (13.3%):                                                                                                  
       4,000,000           3.750%, 1/16/07                                                                              3,968,476 
       6,000,000           2.625%, 2/16/07                                                                              5,849,304 
       3,000,000           3.375%, 10/5/07                                                                              2,944,902 
       4,000,000           3.500%, 11/15/07                                                                             3,926,276 
       3,000,000           4.375%, 6/8/12                                                                               2,950,377 
       3,000,000           4.625%, 8/15/12                                                                              2,996,571 
                                                                                                                        --------- 
                                                                                                                       22,635,906 
                                                                                                                       ---------- 
Federal Home Loan Mortgage Corporation  (4.7%):                                                                                   
       2,000,000           3.000%, 5/26/06                                                                              1,983,682 
       3,000,000           3.000%, 5/21/07                                                                              2,936,631 
       2,000,000           3.640%, 8/12/08                                                                              1,958,880 
       1,000,000           5.200%, 3/5/19                                                                                 988,490 
                                                                                                                          ------- 
                                                                                                                        7,867,683 
                                                                                                                       ---------- 
Federal National Mortgage Association  (4.1%):                                                                                    
       1,000,000           2.500%, 5/12/06                                                                                989,417 
       1,000,000           3.750%, 7/6/07                                                                                 984,433 
       3,000,000           3.250%, 7/30/07                                                                              2,940,186 
       2,000,000           3.000%, 7/16/13                                                                              1,975,888 
                                                                                                                        --------- 
                                                                                                                        6,889,924 
Total U.S. Government Agencies (Cost $39,862,844)                                                                      39,349,303 
                                                                                                                       ---------- 

U.S. Government Mortgage Backed Agencies (1.1%): Federal Home Loan Mortgage                                                       
Corporation (0.8%):                                                                                                               
       697,202             Pool # 254403, 6.000%, 8/1/17                                                                  717,283 
       635,145             Pool # 599630, 6.500%, 8/1/16                                                                  656,986 
                                                                                                                          ------- 
                                                                                                                        1,374,269 
                                                                                                                       ---------- 
Government National Mortgage Association  (0.3%):                                                                                 
       282,226             Pool # 345128, 6.500%, 1/15/24                                                                 294,316 
       68,310              Pool # 352982, 7.500%, 5/15/24                                                                  72,869 
       8,388               Pool # 363175, 7.000%, 11/15/08                                                                  8,643 
       70,774              Pool # 372962, 7.000%, 3/15/24                                                                  74,760 
       29,460              Pool # 373015, 8.000%, 6/15/24                                                                  31,553 
       60,711              Pool # 383488, 7.000%, 2/15/09                                                                  62,878 
                                                                                                                           ------ 
                                                                                                                          545,019 
Total U.S. Government Mortgage Backed Agencies (Cost $1,882,932)                                                        1,919,288 
                                                                                                                        --------- 

Preferred Stocks  (0.7%):                                                                                                         
Bank Holding Companies  (0.2%):                                                                                                   
       10,000              Suntrust Capital IV, 7.125%                                                                    256,200 
                                                                                                                          ------- 
Banks  (0.2%):                                                                                                                    
       20,000              Wells Fargo Capital Trust II, 7.000%                                                           509,600 
                                                                                                                          ------- 
Financial Services  (0.0%):                                                                                                       
       1,400               National Commerce Capital Trust II, 7.700%                                                      36,106 
                                                                                                                           ------ 
Life/Health Insurance  (0.2%):                                                                                                    
       10,000              Aetna, Inc., 8.500%                                                                            258,100 
                                                                                                                          ------- 
Real Estate Investment Trusts  (0.1%):                                                                                            
       5,000               Public Storage, Series R, 8.000%                                                               127,800 
                                                                                                                          ------- 
Total Preferred Stocks (Cost $1,229,101)                                                                                1,187,806 
                                                                                                                        --------- 

Cash Equivalent  (1.7%):                                                                                                          
       2,854,376           Huntington Money Market Fund, Interfund Shares*                                              2,854,376 
                                                                                                                        --------- 
Total Cash Equivalent (Cost $2,854,376)                                                                                 2,854,376 
                                                                                                                        --------- 

Total Investments (Cost $167,631,758) (a)   -   100.5%                                                                169,653,315 
Liabilities in Excess of Other Assets   -   (0.5)%                                                                      (777,887) 
                                                                                                                        --------- 

NET ASSETS   -   100.0%    $                                                                                          168,875,428 
                                                                                                                      =========== 
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington Intermediate Government Income Fund                                                                                    
Portfolio of Investments                                                                                       September 30, 2005 
(Unaudited)                                                                                                                       

     Principal            Security                                                                                                
     Amount or Shares     Description                                                                                       Value 

U.S. Government Agencies (52.5%): Federal Farm Credit Bank (4.5%):                                                                
     $1,000,000           5.750%, 1/18/11                                                                              $1,056,950 
     2,000,000            4.900%, 3/17/14                                                                               1,956,294 
     2,000,000            4.990%, 1/28/15                                                                               1,975,522 
                                                                                                                        --------- 
                                                                                                                        4,988,766 
                                                                                                                       ---------- 
Federal Home Loan Bank  (13.1%):                                                                                                  
     2,000,000            3.540%, 10/6/05                                                                               1,999,400 
     1,500,000            3.875%, 8/14/09                                                                               1,468,454 
     1,000,000            4.000%, 7/8/11                                                                                  965,229 
     2,000,000            4.375%, 2/13/15                                                                               1,958,754 
     2,000,000            4.750%, 9/11/15                                                                               2,004,912 
     3,000,000            Series 1, 4.000%, 7/13/07                                                                     2,975,103 
     1,000,000            Series 6Z14, 4.500%, 11/14/14                                                                   992,129 
     2,000,000            Series EM09, 5.985%, 4/9/09                                                                   2,101,592 
                                                                                                                        --------- 
                                                                                                                       14,465,573 
                                                                                                                       ---------- 
Federal Home Loan Mortgage Corporation  (23.8%):                                                                                  
     1,000,000            3.250%, 1/28/08                                                                                 975,524 
     2,000,000            3.000%, 5/13/08                                                                               1,931,724 
     1,000,000            3.875%, 1/12/09                                                                                 978,912 
     2,000,000            6.000%, 6/15/11                                                                               2,143,036 
     2,000,000            4.375%, 11/9/11                                                                               1,965,260 
     2,000,000            5.000%, 8/15/12                                                                               1,993,900 
     2,000,000            4.750%, 10/11/12                                                                              1,985,660 
     2,000,000            4.250%, 5/22/13                                                                               1,937,890 
     1,500,000            5.125%, 11/7/13                                                                               1,501,226 
     1,500,000            5.162%, 12/16/13                                                                              1,511,339 
     1,000,000            4.500%, 4/2/14                                                                                  971,695 
     2,000,000            5.000%, 11/13/14                                                                              1,996,692 
     3,000,000            5.000%, 3/2/15                                                                                2,986,623 
     3,500,000            5.200%, 3/5/19                                                                                3,459,714 
                                                                                                                        --------- 
                                                                                                                       26,339,195 
                                                                                                                       ---------- 
Federal National Mortgage Association  (11.1%):                                                                                   
     2,000,000            2.810%, 9/28/06                                                                               1,968,526 
     1,000,000            3.500%, 12/28/06                                                                                986,528 
     2,000,000            3.410%, 8/30/07                                                                               1,961,996 
     3,000,000            4.375%, 7/17/13                                                                               2,900,091 
     2,000,000            5.250%, 3/24/15                                                                               2,008,382 
     2,500,000            5.000%, 4/26/17                                                                               2,448,885 
                                                                                                                        --------- 
                                                                                                                       12,274,408 
Total U.S. Government Agencies (Cost $58,235,636)                                                                      58,067,942 
                                                                                                                       ---------- 

U.S. Government Mortgage Backed Agencies (32.1%): Federal Home Loan Mortgage                                                      
Corporation (12.1%):                                                                                                              
     1,537,049            Pool # C90699, 5.000%, 8/1/23                                                                 1,517,974 
     685,240              Pool # E01184, 6.000%, 8/1/17                                                                   704,308 
     813,725              Pool # G08005, 5.500%, 8/1/34                                                                   814,202 
     676,311              Pool # M80773, 5.000%, 10/1/09                                                                  679,952 
     943,242              REMIC Series R002, Class AH, 4.750%, 7/15/15                                                    936,659 
     1,000,000            Series 2003-32, Class KB, 5.000%, 3/25/17                                                       999,545 
     1,330,460            Series 2555, Class B, 4.250%, 1/15/18                                                         1,303,113 
     2,500,000            Series 2571, Class VP, 5.500%, 7/15/21                                                        2,504,568 
     1,000,000            Series 2670, Class QP, 4.000%, 2/15/27                                                          982,091 
     1,942,386            Series 2957, Class VB, 5.000%, 4/15/16                                                        1,941,614 
     1,000,000            Series 2976, Class HP, 4.500%, 1/15/33                                                          977,121 
                                                                                                                          ------- 
                                                                                                                       13,361,147 
                                                                                                                       ---------- 
Federal National Mortgage Association  (16.3%):                                                                                   
     1,439,080            Pool # 254594, 5.500%, 1/1/33                                                                 1,439,850 
     1,749,554            Pool # 254759, 4.500%, 6/1/18                                                                 1,716,255 
     769,577              Pool # 254911, 5.000%, 10/1/23                                                                  760,127 
     1,761,578            Pool # 255360, 5.000%, 8/1/24                                                                 1,739,238 
     428,114              Pool # 647408, 5.000%, 10/1/17                                                                  427,457 
     532,931              Pool # 677002, 5.500%, 1/1/18                                                                   540,956 
     1,731,252            Pool # 685852, 5.500%, 1/1/18                                                                 1,757,321 
     2,124,861            Pool # 735224, 5.500%, 2/1/35                                                                 2,125,846 
     2,160,130            Pool # 783793, 6.000%, 7/1/34                                                                 2,196,707 
     876,260              Pool # 806715, 5.500%, 1/1/35                                                                   876,324 
     1,420,288            Pool # 807963, 5.000%, 1/1/35                                                                 1,392,328 
     918,488              Series 2003-108, Class HA, 5.000%, 1/25/27                                                      917,854 
     1,592,793            Series 2003-11, Class BA, 5.500%, 8/25/32                                                     1,611,438 
     459,028              Series 2003-16, Class CB, 4.000%, 2/25/33                                                       448,067 
                                                                                                                          ------- 
                                                                                                                       17,949,768 
                                                                                                                       ---------- 
Government National Mortgage Association  (3.7%):                                                                                 
     535,699              Pool # 2699, 6.000%, 1/20/29                                                                    547,652 
     707,437              Pool # 576456, 6.000%, 3/15/32                                                                  724,767 
     1,338,712            Series 2002-70, Class A, 4.000%, 8/20/32                                                      1,344,158 
     1,500,000            Series 2003-100, Class VB, 5.500%, 1/20/23                                                    1,505,068 
                                                                                                                        --------- 
                                                                                                                        4,121,645 
Total U.S. Government Mortgage Backed Agencies (Cost $35,907,788)                                                      35,432,560 
                                                                                                                       ---------- 

U.S. Treasury Notes  (12.8%):                                                                                                     
     2,000,000            4.625%, 5/15/06                                                                               2,006,954 
     2,000,000            6.875%, 5/15/06                                                                               2,033,906 
     2,000,000            7.000%, 7/15/06                                                                               2,043,750 
     1,000,000            6.500%, 10/15/06                                                                              1,023,477 
     2,000,000            6.125%, 8/15/07                                                                               2,069,766 
     2,000,000            3.375%, 11/15/08                                                                              1,952,266 
     1,000,000            5.000%, 8/15/11                                                                               1,039,102 
     2,000,000            4.250%, 11/15/14                                                                              1,985,704 
                                                                                                                        --------- 
Total U.S. Treasury Notes (Cost $14,073,536)                                                                           14,154,925 
                                                                                                                       ---------- 

Cash Equivalent  (1.8%):                                                                                                          
     1,936,043            Huntington Money Market Fund, Interfund Shares *                                              1,936,043 
                                                                                                                        --------- 
Total Cash Equivalent (Cost $1,936,043)                                                                                 1,936,043 
                                                                                                                        --------- 

Total Investments (Cost $110,153,003) (a)   -   99.2%                                                                 109,591,470 
Other Assets in Excess of Liabilities   -   0.8%                                                                          863,700 
                                                                                                                          ------- 

NET ASSETS   -   100.0%                                                                                              $110,455,170 
                                                                                                                      =========== 
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington Michigan Tax-Free Fund                                                                                                 
Portfolio of Investments                                                                                       September 30, 2005 
(Unaudited)                                                                                                                       

     Principal             Security                                                                                               
     Amount or Shares      Description                                                                                      Value 

Municipal Bonds  (98.1%):                                                                                                         
Michigan  (98.1%):                                                                                                                
     $80,000               Alpena, MI, Public Schools, G.O., (MBIA Ins), 5.500%, 5/1/09                                   $82,834 
     135,000               Ann Arbor, MI, Water Supply Systems Revenue, Series Z, (AMBAC                                  131,039 
                            Ins), 3.000%, 2/1/11                                                                                  
     195,000               Atherton, MI, Community School District, G.O., 6.000%, 5/1/09                                  212,805 
     475,000               Avondale, MI, School District, Building & Site, G.O., 5.250%, 5/1/18                           515,061 
     100,000               Bedford, MI, Public School District, G.O., (FSA Ins), 4.650%, 5/1/12                           104,003 
     150,000               Big Rapids, MI, Public School District, (FSA Ins), 5.000%, 5/1/19                              155,499 
     300,000               Birmingham, MI, Sewer Improvements, G.O., 5.700%, 10/1/13                                      323,916 
     75,000                Bishop, MI, International Airport Authority Refunding, Series A, G.O.,                          79,415 
                           (AMBAC Ins), 5.100%, 12/1/18                                                                           
     100,000               Bloomfield Hills, MI, School Improvements, G.O., 5.000%,                                       103,062 
     125,000               Bridgeport Spaulding, MI, City School District, G.O., 5.500%, 5/1/14                           138,016 
     100,000               Burton, MI, Water Supply & Sewer Revenue, (MBIA Ins), 5.000%, 12/1/08                          105,481 
     800,000               Caledonia, MI, Community Schools, G.O., 5.250%, 5/1/15                                         864,271 
     250,000               Canton Charter Township, MI, G.O., (FGIC Ins), 5.250%, 10/1/11                                 267,880 
     50,000                Cedar Springs, MI, Public School District G.O., 4.800%, 5/1/11                                  51,809 
     400,000               Chippewa Valley, MI, Schools, Building & Site, Series I, G.O.,                                 441,064 
                           5.375%, 5/1/17                                                                                         
     250,000               Chippewa Valley, MI, Schools, Building & Site, Series I, G.O., 5.375%, 5/1/18                  275,665 
     100,000               Coldwater, MI, Water Supply Refunding Revenue, (AMBAC Ins),                                    102,597 
                           4.750%, 7/1/10                                                                                         
     300,000               Coopersville, MI, Area Public Schools, G.O., (MBIA Ins), 4.875%, 5/1/15                        317,661 
     65,000                Detroit, MI, City School District, Series B, G.O., (FGIC Ins), 5.000%, 5/1/19                   68,817 
     250,000               Detroit, MI, Downtown Development Authority Tax Increment Revenue,                             260,375 
                           Series A, (MBIA Ins), 4.650%, 7/1/10                                                                   
     150,000               Detroit, MI, Public Improvements, Series A, G.O., (FGIC Ins), 5.375%, 4/1/11                   156,159 
     300,000               Detroit, MI, School District, G.O., (FGIC Ins), 5.375%, 5/1/15                                 324,849 
     50,000                Detroit, MI, Water Supply System Revenue, Series A, (MBIA Ins),                                 52,721 
                           5.200%, 7/1/08                                                                                         
     500,000               Detroit, MI, Water Supply Systems Revenue, Series A, (FGIC Ins),                               545,124 
                           5.000%, 7/1/13                                                                                         
     60,000                Dexter, MI, Community Schools, G.O., (FGIC Ins), 4.800%, 5/1/10                                 62,216 
     90,000                Dowagiac, MI, Union School District, G.O., 5.500%, 5/1/16                                       99,372 
     150,000               Eastern Michigan University, Refunding Revenue, (FGIC Ins),                                    169,842 
                           5.800%, 6/1/12                                                                                         
     65,000                Ecorse, MI, Public School District, G.O. (FGIC Ins), 5.250%, 5/1/12                             69,079 
     270,000               Ferndale, MI, Public Improvements Refunding, G.O., (FGIC Ins), 5.000%,                         290,399 
                            4/1/15                                                                                                
     100,000               Forest Hills, MI, Public Schools, G.O., 5.200%, 5/1/08                                         101,181 
     250,000               Forest Hills, MI, Public Schools, G.O., 5.250%, 5/1/13                                         271,190 
     400,000               Fowlerville, MI, Community School District, G.O., (MBIA Ins), 5.350%,                          415,072 
                           5/1/10                                                                                                 
     45,000                Genesee County, MI, Building Authority, G.O. (MBIA Ins), 4.000%,                                45,982 
                           5/1/08                                                                                                 
     200,000               Genesee County, MI, Building Authority, G.O., (AMBAC Ins),                                     213,284 
                           5.100%, 5/1/14                                                                                         
     200,000               Godwin Heights, MI, Public Schools, G.O., 5.600%, 5/1/14                                       219,904 
     100,000               Grand Ledge, MI, Public School District Refunding, G.O., (FSA Ins),                            103,109 
                           4.750%, 5/1/14                                                                                         
     25,000                Grand Rapids, MI, Community College, G.O. (FGIC Ins), 5.100%, 5/1/13                            26,126 
     545,000               Grand Rapids, MI, Downtown Development Authority Tax Increment                                 553,948 
                            Revenue, (MBIA Ins), 6.600%, 6/1/08                                                                   
     100,000               Grand Rapids, MI, G.O., 5.100%, 4/1/14                                                         104,977 
     200,000               Grandville, MI, Public School District Refunding, G.O., 5.150%, 5/1/12                         205,804 
     490,000               Greenville, MI, Public Schools Refunding G.O., (FSA Ins), 4.900%,                              505,381 
                           5/1/13                                                                                                 
     95,000                Grosse Isle Township, MI, School District Refunding, G.O. (FGIC Ins),                           98,244 
                           4.850%, 5/1/12                                                                                         
     500,000               Grosse Pointe, MI, Public Schools, G.O., 5.000%, 5/1/13                                        538,205 
     300,000               Hartland, MI, Consolidated School District Refunding, G.O., 5.050%,                            316,044 
                           5/1/18                                                                                                 
     200,000               Howell, MI, Public Schools, G.O., 5.000%, 5/1/10                                               213,614 
     45,000                Hudsonville, MI, Public Schools, G.O., (FGIC Ins), 5.050%, 5/1/12                               46,971 
     55,000                Hudsonville, MI, Public Schools, G.O., (FGIC Ins), 5.050%, 5/1/12                               57,742 
     140,000               Huron Valley, MI, School District Refunding, G.O. (FGIC Ins), 5.000%,                          145,610 
                           5/1/18                                                                                                 
     50,000                Huron Valley, MI, School District, G.O., (FGIC Ins), 4.800%, 5/1/13                             52,010 
     80,000                Ingham County, MI, Building Authority Refunding Revenue,                                        80,920 
                           (AMBAC Ins), 5.000%, 11/1/16                                                                           
     525,000               Jackson, MI, Downtown Development, G.O., (FSA Ins), 5.750%, 6/1/13                             583,400 
     50,000                Kalamazoo, MI,  Building Authority Revenue, (FSA Ins), 4.400%, 10/1/10                          51,424 
     200,000               Kalamazoo, MI, City Schools District, Building & Site, G.O., (FSA                              214,498 
                           Ins), 5.000%, 5/1/13                                                                                   
     100,000               Kalamazoo, MI, Hospital Finance Authority Refunding Revenue, (MBIA                             105,471 
                           Ins), 5.250%, 5/15/18                                                                                  
     450,000               Kelloggsville, MI, Public Schools, (FGIC Ins), 5.000%, 5/1/13                                  469,724 
     175,000               Kent County, MI, Building Authority, G.O., 5.000%, 11/1/09                                     180,357 
     250,000               Kent County, MI, Building Authority, G.O., 5.000%, 6/1/14                                      261,035 
     25,000                Kent County, MI, Building Authority, G.O., 4.800%, 6/1/16                                       26,157 
     500,000               Lake Orion, MI, Community School District Refunding, G.O., 4.800%,                             527,930 
                           5/1/15                                                                                                 
     1,000,000             Lake Orion, MI, Community School District Refunding, G.O., 5.000%,                           1,057,860 
                           5/1/18                                                                                                 
     140,000               Lakeview, MI, Public School District, G.O., 5.000%, 5/1/16                                     147,284 
     250,000               Lansing, MI, Board of Water & Light Revenue, Series A, 5.000%, 7/1/15                          268,718 
     75,000                Lansing/Ingham County, MI, Building Authority, G.O., 5.125%, 11/1/10                            79,645 
     200,000               Lansing/Ingham County, MI, Building Authority, G.O., 5.200%, 11/1/11                           212,638 
     125,000               Madison, MI, Public School District Refunding, G.O., (FGIC Ins), 5.125%,                       133,408 
                            5/1/18                                                                                                
     75,000                Marshall, MI, Building Authority, G.O., (AMBAC Ins), 5.450%, 4/1/14                             81,873 
     300,000               Michigan Municipal Bond Authority Revenue, Series C, (AMBAC Ins),                              319,299 
                           5.100%, 11/1/15                                                                                        
     75,000                Michigan Municipal Building Authority Revenue, 4.800%, 10/1/08                                  78,206 
     400,000               Michigan Municipal Building Authority Revenue, Series A, 5.100%,                               411,988 
                           10/1/09                                                                                                
     45,000                Michigan Municipal Building Authority, Pollution Control Revenue,                               46,932 
                           5.250%, 10/1/07                                                                                        
     250,000               Michigan Municipal Building Authority, Water Utility Improvements                              281,758 
                            Revenue, 5.875%, 10/1/17                                                                              
     250,000               Michigan State Building Authority Refunding Revenue, Series I,                                 275,388 
                           5.500%, 10/15/12                                                                                       
     50,000                Michigan State Building Authority Refunding Revenue, Series I (FSA                              55,246 
                           Ins), 5.250%, 10/15/12                                                                                 
     100,000               Michigan State Building Authority Revenue, Series I, 4.750%, 10/15/11                          105,813 
     80,000                Michigan State Building Authority Revenue, Series I, (MBIA Ins),                                84,806 
                           4.750%, 10/15/12                                                                                       
     600,000               Michigan State Building Authority, Facilities Program Refunding                                634,476 
                           Revenue, Series I, 5.125%, 10/15/15                                                                    
     300,000               Michigan State Comprehensive Transit Refunding Revenue, Series A                               308,406 
                            (MBIA Ins), 5.250%, 8/1/12                                                                            
     610,000               Michigan State Comprehensive Transit Revenue, Series A, (MBIA                                  638,298 
                           Ins), 5.000%, 11/1/10                                                                                  
     10,000                Michigan State Hospital Finance Authority Refunding Revenue, Series                             10,997 
                           A (MBIA Ins), 6.000%, 5/15/14                                                                          
     45,000                Michigan State Hospital Finance Authority Refunding Revenue, Series                             47,468 
                           A, (FSA Ins), 5.000%, 8/15/13                                                                          
     40,000                Michigan State Hospital Finance Authority Refunding Revenue, Series                             41,245 
                           A, (MBIA Ins), 5.000%, 2/15/18                                                                         
     100,000               Michigan State Hospital Finance Authority Revenue (AMBAC Ins),                                 104,689 
                           5.500%, 1/1/16                                                                                         
     850,000               Michigan State Hospital Finance Authority Revenue, (MBIA Ins),                                 908,837 
                           5.000%, 11/15/17                                                                                       
     10,000                Michigan State Hospital Financing Authority Revenue, (AMBAC Ins),                               10,734 
                           5.750%, 5/15/16                                                                                        
     250,000               Michigan State School Improvements, G.O., 4.800%,                                              259,468 
                           12/1/11                                                                                                
     100,000               Montabella, MI, Community School District, G.O., (FGIC Ins), 5.200%,                           106,977 
                           5/1/17                                                                                                 
     1,000,000             Mount Clemens, MI, Communtiy School District Refunding, G.O., (FSA                           1,071,449 
                            Ins), 5.000%, 5/1/18                                                                                  
     100,000               Muskegon County, MI, Building Authority Refunding, G.O., (AMBAC                                104,347 
                           Ins), 4.625%, 9/1/13                                                                                   
     50,000                Newaygo, MI, Public Schools, G.O., 5.500%, 5/1/13                                               54,765 
     70,000                Northwestern Community College, MI, Prerefunded, G.O., (FGIC Ins),                              75,599 
                           5.300%, 4/1/12                                                                                         
     10,000                Northwestern Community College, MI, Unrefunded, G.O. , (FGIC Ins),                              10,719 
                           5.300%, 4/1/12                                                                                         
     150,000               Novi, MI, Community School District, G.O., 5.125%, 5/1/18                                      158,964 
     50,000                Oakland County, MI, Sewer Improvements Refunding, G.O.,                                         50,928 
                           4.950%, 10/1/09                                                                                        
     500,000               Paw Paw, MI, Public School District, G.O., (FGIC Ins), 6.500%, 5/1/09                          553,305 
     150,000               Petoskey Michigan Hospital Financial Authority, 5.500%,                                        160,823 
                           11/15/09                                                                                               
     200,000               Portage, MI, Building Authority, G.O., 5.450%, 7/1/09                                          207,352 
     250,000               Portage, MI, Public Schools, G.O., (FSA Ins), 4.500%, 5/1/14                                   256,125 
     200,000               Potterville, MI, Public Schools, G.O., (FSA Ins), 5.550%, 5/1/14                               216,304 
     100,000               Reeths-Puffer, MI, Schools Refunding, G.O., (FGIC Ins), 4.850%, 5/1/12                         102,338 
     490,000               Romeo, MI, Community School District, G.O., 5.250%, 5/1/15                                     531,532 
     640,000               Saginaw Valley State University, MI, Revenue, (AMBAC Ins), 5.000%,                             680,633 
                           7/1/12                                                                                                 
     65,000                South Lyon, MI, Community Schools, G.O., 4.250%, 5/1/10                                         67,376 
     1,175,000             South Lyon, MI, Community Schools, G.O., (MBIA Ins), 5.250%,                                 1,277,107 
                           5/1/18                                                                                                 
     500,000               South Macomb, MI, Disposal Authority Revenue, (AMBAC Ins),                                     538,170 
                           5.375%, 9/1/12                                                                                         
     200,000               Sterling Heights, MI, Building Authority, G.O., (FGIC Ins), 5.600%,                            215,376 
                           10/1/13                                                                                                
     100,000               Stockbridge, MI, Community Schools, G.O., 5.150%, 5/1/13                                       108,054 
     225,000               Tecumseh, MI, Public Schools, G.O., 5.300%, 5/1/16                                             244,546 
     40,000                Three Rivers, MI, Community Schools, G.O., (FSA Ins), 4.900%,                                   41,256 
                           5/1/13                                                                                                 
     300,000               University of Michigan Refunding Revenue, Series A-1, 5.250%,                                  316,080 
                           12/1/10                                                                                                
     200,000               Van Buren County, MI, Public Schools, G.O., (AMBAC Ins), 4.750%,                               210,934 
                            5/1/16                                                                                                
     500,000               Van Buren County, MI, Sewage Disposal, G.O., (AMBAC Ins),                                      524,480 
                           5.000%, 5/1/16                                                                                         
     170,000               Walker, MI, Building Authority, G.O., (MBIA Ins), 5.200%, 5/1/14                               182,045 
     200,000               Waterford, MI, School District Refunding, G.O., 5.000%, 6/1/14                                 202,438 
     50,000                Wayne County, MI, G.O., 5.200%, 10/1/12                                                         53,671 
     125,000               Wayne County, MI, G.O., 5.250%, 6/1/16                                                         129,293 
     100,000               Wayne County, MI, Public Improvements, G.O., 5.300%, 10/1/13                                   107,479 
     1,110,000             Wayne County, MI, Public Improvements, Series A, G.O.,                                       1,181,516 
                           5.250%, 10/1/12                                                                                        
     15,000                Wayne County, MI, Wayne Community College, G.O., (AMBAC                                         16,172 
                           Ins), 5.350%, 7/1/13                                                                                   
     100,000               Wayne State University, MI, Revenue (FGIC Ins), 5.375%,                                        108,461 
                           11/15/13                                                                                               
     145,000               West Ottawa, MI, Public School District, Unrefunded, G.O., (FGIC                               149,917 
                           Ins), 5.400%, 5/1/09                                                                                   
     60,000                West Ottawa, MI, Public School District, Unrefunded, G.O., (FGIC                                62,293 
                           Ins), 5.600%, 5/1/11                                                                                   
     75,000                Western Michigan University Refunding Revenue, (FGIC Ins),                                      77,825 
                           5.000%, 11/15/11                                                                                       
     550,000               Western Ottawa, MI, Public School District Refunding, G.O., Series A,                          608,288 
                           5.375%, 5/1/13                                                                                         
     200,000               Western Township, MI, Utilities Refunding, G.O. Series A (MBIA Ins),                           213,666 
                           5.250%, 1/1/12                                                                                         
     200,000               White Cloud, MI, Public Schools, G.O., 5.500%, 5/1/15                                          221,794 
     250,000               Whiteford, MI, Agricultural School District, G.O., 5.000%, 5/1/15                              264,030 
     50,000                Woodhaven-Brownstown, MI, School District, G.O., 5.125%, 5/1/14                                 53,910 
     85,000                Wyandotte, MI, Electric Utility Refunding Revenue, (MBIA Ins),                                  90,726 
                           5.375%, 10/1/13                                                                                        
     60,000                Wyoming, MI, Public Improvements, G.O., (FGIC Ins), 5.250%, 5/1/11                              63,848 
                                                                                                                           ------ 

Total Municipal Bonds (Cost $31,116,890)                                                                               31,384,736 
                                                                                                                       ---------- 

Cash Equivalent  (0.3%):                                                                                                          
     82,621                Fidelity Institutional Tax-Exempt Fund                                                          82,621 
                                                                                                                           ------ 
Total Cash Equivalent (Cost $82,621)                                                                                       82,621 
                                                                                                                           ------ 

Total Investments (Cost $31,199,511) (a)   -   98.4%                                                                   31,467,357 
Other Assets in Excess of Liabilities   -   1.6%                                                                          518,551 
                                                                                                                          ------- 

NET ASSETS   -   100.0%                                                                                               $31,985,908 
                                                                                                                       ========== 
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington Mortgage Securities Fund                                                                                               
Portfolio of Investments                                                                                       September 30, 2005 
(Unaudited)                                                                                                                       
     Shares                                                                                                                       
     or                                                                                                                           
     Principal             Security                                                                                               
     Amount                Description                                                                                      Value 

U.S. Government Mortgage Backed Agencies (84.0%): Federal Home Loan Bank (1.3%):                                                  
     $1,125,242            Series Z2-2013, Class A, 4.800%, 2/25/13                                                    $1,111,346 
                                                                                                                        --------- 
Federal Home Loan Mortgage Corporation  (32.9%):                                                                                  
     1,513,670             Pool # A15284, 5.500%, 10/1/33                                                               1,515,723 
     539,967               Pool # C00730, 6.000%, 3/1/29                                                                  550,552 
     197,503               Pool # C90237, 6.500%, 11/1/18                                                                 205,032 
     1,317,453             Pool # C90859, 5.500%, 10/1/24                                                               1,326,454 
     544,821               Pool # E96459, 5.000%, 5/1/18                                                                  543,942 
     1,627,450             Pool # G08005, 5.500%, 8/1/34                                                                1,628,912 
     748,607               Pool # M80927, 5.000%, 7/1/11                                                                  752,643 
     1,801,712             Pool # M80977, 5.500%, 5/1/12                                                                1,826,663 
     316,453               REMIC Series 2399, Class EC, 5.500%, 1/15/09                                                   319,034 
     1,980,848             REMIC Series 2481, Class PE, 6.000%, 4/15/31                                                 2,011,948 
     1,000,000             REMIC Series 2543, Class PQ, 5.500%, 4/15/22                                                 1,010,707 
     2,000,000             REMIC Series 2553, Class AE, 5.500%, 9/15/29                                                 2,037,968 
     1,341,086             REMIC Series 2584, Class LE, 4.000%, 12/15/13                                                1,283,433 
     943,242               REMIC Series R002, Class AH, 4.750%, 7/15/15                                                   937,249 
     615,762               Series 1994-23, Class PK, 6.000%, 5/25/10                                                      626,802 
     2,550,000             Series 2003-32, Class KB, 5.000%, 3/25/17                                                    2,550,433 
     1,000,000             Series 2003-53, Class JL, 5.000%, 12/25/31                                                     982,592 
     768,694               Series 2548, Class HA, 4.500%, 1/15/10                                                         765,153 
     713,861               Series 2552, Class NM, 5.000%, 11/15/26                                                        715,868 
     1,000,000             Series 2571, Class VP, 5.500%, 7/15/21                                                       1,002,452 
     2,000,000             Series 2780, Class QC, 4.500%, 3/15/17                                                       1,973,010 
     1,942,386             Series 2957, Class VB, 5.000%, 4/15/16                                                       1,942,828 
     1,000,000             Series 2976, Class HP, 4.500%, 1/15/33                                                         977,746 
                                                                                                                          ------- 
                                                                                                                       27,487,144 
                                                                                                                       ---------- 
Federal National Mortgage Association  (46.0%):                                                                                   
     1,345,658             Pool # 254442, 5.500%, 9/1/17                                                                1,366,341 
     779,805               Pool # 254486, 5.000%, 9/1/17                                                                  778,852 
     1,006,869             Pool # 254720, 4.500%, 5/1/18                                                                  988,020 
     1,049,732             Pool # 254759, 4.500%, 6/1/18                                                                1,030,081 
     1,418,880             Pool # 254802, 4.500%, 7/1/18                                                                1,392,318 
     1,092,858             Pool # 254831, 5.000%, 8/1/23                                                                1,079,779 
     2,224,978             Pool # 254908, 5.000%, 9/1/23                                                                2,198,350 
     2,028,746             Pool # 254911, 5.000%, 10/1/23                                                               2,004,467 
     687,580               Pool # 254955, 4.000%, 10/1/10                                                                 674,788 
     869,862               Pool # 255320, 5.000%, 7/1/24                                                                  859,102 
     1,914,228             Pool # 255711, 5.500%, 4/1/25                                                                1,925,938 
     965,899               Pool # 357771, 5.000%, 5/1/25                                                                  953,581 
     390,789               Pool # 602879, 6.000%, 11/1/31                                                                 397,683 
     895,605               Pool # 663808, 5.000%, 11/1/17                                                                 894,510 
     1,288,276             Pool # 684488, 5.000%, 12/1/17                                                               1,286,701 
     1,410,129             Pool # 693256, 5.000%, 4/1/18                                                                1,407,830 
     2,274,884             Pool # 729535, 5.500%, 7/1/33                                                                2,276,649 
     2,124,861             Pool # 735224, 5.500%, 2/1/35                                                                2,126,511 
     394,477               Pool # 748422, 6.000%, 8/1/33                                                                  401,257 
     2,160,130             Pool # 783793, 6.000%, 7/1/34                                                                2,197,383 
     876,260               Pool # 806715, 5.500%, 1/1/35                                                                  876,597 
     805,845               Pool # 814261, 6.000%, 1/1/35                                                                  819,743 
     1,000,000             Pool # 836450, 6.000%, 10/1/35                                                               1,017,250 
     105,407               Pool # E65142, 6.500%, 7/1/11                                                                  108,872 
     1,112,695             Series 2003-38, Class TC, 5.000%, 3/25/23                                                    1,111,750 
     1,000,000             Series 2003-92, Class KH, 5.000%, 3/25/32                                                      980,562 
     1,064,497             Series 2004-21, Class NA, 5.500%, 4/25/34                                                    1,045,827 
     2,000,000             Series 2004-45, Class NC, 5.500%, 11/25/28                                                   2,025,023 
     2,126,562             Series 2004-45, Class VD, 4.500%, 3/25/18                                                    2,070,239 
     1,000,000             Series 2672, Class GH, 5.500%, 8/15/31                                                       1,005,518 
     1,091,000             Series 2847, Class NC, 4.000%, 1/15/24                                                       1,069,430 
                                                                                                                        --------- 
                                                                                                                       38,370,952 
                                                                                                                       ---------- 
Government National Mortgage Association  (3.8%):                                                                                 
     2,219                 Pool # 328651, 8.500%, 5/15/07                                                                   2,257 
     3,122,615             Pool # 3637, 5.500%, 11/20/34                                                                3,148,287 
                                                                                                                        --------- 
                                                                                                                        3,150,544 
Total U.S. Government Mortgage Backed Agencies (Cost $70,941,775)                                                      70,119,986 
                                                                                                                       ---------- 

Common Stocks  (8.7%):                                                                                                            
Real Estate Investment Trusts  (8.7%):                                                                                            
     4,700                 Acadia Realty Trust                                                                             84,553 
     3,400                 Alexandria Real Estate Equities, Inc.                                                          281,146 
     5,000                 American Campus Communities, Inc.                                                              120,100 
     1,000                 Avalonbay Communities, Inc.                                                                     85,700 
     3,400                 Boston Properties, Inc.                                                                        241,060 
     7,000                 Brandywine Realty Trust                                                                        217,630 
     2,000                 Camden Property Trust                                                                          111,500 
     7,000                 Capital Automotive Real Estate Investment Trust, Inc.                                          270,970 
     6,000                 CBL & Associates Properties, Inc.                                                              245,940 
     4,200                 CenterPoint Properties Corp.                                                                   188,160 
     5,000                 Correctional Properties Trust                                                                  147,050 
     4,200                 Developers Diversified Realty Corp.                                                            196,140 
     5,000                 Duke Realty Corp.                                                                              169,400 
     4,500                 EastGroup Properties, Inc.                                                                     196,875 
     1,000                 Equity Lifestyle Properties, Inc.                                                               45,000 
     2,700                 Equity Office Properties Trust                                                                  88,317 
     5,000                 Equity Residential Properties Trust                                                            189,250 
     2,500                 Essex Property Trust, Inc.                                                                     225,000 
     2,100                 General Growth Properties                                                                       94,353 
     800                   Getty Realty Corp.                                                                              23,024 
     5,000                 Health Care Property Investors, Inc.                                                           134,950 
     3,500                 Healthcare Realty Trust, Inc.                                                                  140,490 
     4,200                 Heritage Property Investment                                                                   147,000 
     5,000                 Home Properties, Inc.                                                                          196,250 
     4,600                 Hospitality Properties Trust                                                                   197,156 
     7,600                 Kimco Realty Corp.                                                                             238,792 
     4,000                 Mack-Cali Realty Corp.                                                                         179,760 
     3,000                 Mills Corp.                                                                                    165,240 
     1,000                 New Plan Excel Realty Trust                                                                     22,950 
     2,500                 Parkway Properties, Inc.                                                                       117,300 
     6,000                 Pennsylvania Real Estate Investment Trust                                                      253,080 
     6,386                 ProLogis                                                                                       282,973 
     3,200                 Public Storage, Inc.                                                                           214,400 
     1,000                 Reckson Associates Realty Corp.                                                                 34,550 
     3,100                 Regency Centers Corp.                                                                          178,095 
     2,500                 Shurgard Storage Centers, Inc., Class A                                                        139,675 
     3,400                 Simon Property Group, Inc.                                                                     252,008 
     2,800                 SL Green Realty Corp.                                                                          190,904 
     1,100                 The Macerich Co.                                                                                71,434 
     5,900                 United Dominion Realty Trust, Inc.                                                             139,830 
     3,900                 Ventas, Inc.                                                                                   125,580 
     2,800                 Vornado Realty Trust                                                                           242,536 
     5,000                 Washington Real Estate Investment Trust                                                        155,550 
     5,000                 Weingarten Realty Investors                                                                    189,250 
                                                                                                                          ------- 
Total Common Stocks (Cost $4,482,884)                                                                                   7,230,921 
                                                                                                                        --------- 

U.S. Government Agencies (5.3%): Federal Home Loan Bank (1.2%):                                                                   
     1,000,000             3.540%, 10/6/05                                                                                999,702 
                                                                                                                          ------- 
Federal Home Loan Mortgage Corporation  (2.9%):                                                                                   
     500,000               3.650%, 1/23/08                                                                                492,386 
     500,000               4.750%, 10/11/12                                                                               497,149 
     500,000               4.500%, 4/2/14                                                                                 486,694 
     1,000,000             5.000%, 3/2/15                                                                                 997,391 
                                                                                                                          ------- 
                                                                                                                        2,473,620 
                                                                                                                       ---------- 
Federal National Mortgage Association  (1.2%):                                                                                    
     1,000,000             2.875%, 5/19/08                                                                                960,763 
                                                                                                                          ------- 
Total U.S. Government Agencies (Cost $4,479,093)                                                                        4,434,085 
                                                                                                                        --------- 

Cash Equivalent  (1.6%):                                                                                                          
     1,343,531             Huntington Money Market Fund, Interfund Shares *                                             1,343,531 
                                                                                                                        --------- 
Total Cash Equivalent (Cost $1,343,531)                                                                                 1,343,531 
                                                                                                                        --------- 

Total Investments (Cost $81,247,283) (a)   -   99.6%                                                                   83,128,523 
Other Assets in Excess of Liabilities   -   0.4%                                                                          317,837 
                                                                                                                          ------- 

NET ASSETS   -   100.0%                                                                                               $83,446,360 
                                                                                                                       ========== 
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington Ohio Tax-Free Fund                                                                                                     
Portfolio of Investments                                                                                       September 30, 2005 
(Unaudited)                                                                                                                       

     Principal             Security                                                                                               
     Amount or Shares      Description                                                                                      Value 

Municipal Bonds  (98.3%):                                                                                                         
Ohio  (98.3%):                                                                                                                    
     $500,000              Akron, OH, G.O., Series 2, 5.300%, 12/1/11                                                    $524,130 
     50,000                Akron, OH, Hospital Improvements Revenue, (FSA Ins), 5.250%,                                    54,231 
                           11/15/15                                                                                               
     70,000                Akron, OH, Pension Funding Refunding Revenue, (AMBAC Ins),                                      76,177 
                           5.250%, 12/1/18                                                                                        
     335,000               Akron, OH, Water Utility Improvements Revenue, (MBIA Ins),                                     363,854 
                           5.250%, 12/1/17                                                                                        
     150,000               Allen County, OH, Refunding, G.O., (AMBAC Ins), 5.250%, 12/1/15                                164,009 
     375,000               Avon Lake, OH, Water System Revenue, Series A, (AMBAC Ins),                                    413,025 
                           5.500%, 10/1/15                                                                                        
     75,000                Avon Lake, OH, Water Systems Revenue, Series A, (AMBAC Ins),                                    82,948 
                           5.600%, 10/1/19                                                                                        
     500,000               Bay Village, OH, City School District, G.O., 5.250%, 12/1/16                                   540,680 
     140,000               Bay Village, OH, City School District, G.O., 5.375%, 12/1/18                                   151,934 
     500,000               Butler County, OH, G.O., (AMBAC Ins), 5.000%, 12/1/12                                          525,715 
     20,000                Butler County, OH, Sales Tax Revenue, (AMBAC Ins), 5.000%,                                      21,043 
                           12/15/13                                                                                               
     315,000               Butler County, OH, Transportation Improvement Revenue, Series A,                               331,638 
                           5.125%, 4/1/17                                                                                         
     615,000               Canton, OH, City School District, (MBIA Ins), 0.000%, 12/1/13                                  442,050 
     420,000               Canton, OH, School District, G.O., (MBIA Ins), 5.350%, 12/1/15                                 460,286 
     200,000               Chagrin Falls, OH, Exempt Village School District, G.O., (MBIA Ins),                           217,878 
                           5.250%, 12/1/19                                                                                        
     465,000               Cincinnati, OH, Pension Funding Refunding, G.O., 5.750%, 12/1/16                               512,546 
     150,000               Cincinnati, OH, Public Improvements, G.O., 5.000%, 12/1/12                                     159,576 
     525,000               Cincinnati, OH, Public Improvements, G.O., 5.000%, 12/1/15                                     553,213 
     150,000               Cincinnati, OH, Water System Revenue, 5.500%, 12/1/12                                          164,540 
     560,000               Cincinnati, OH, Water Systems Revenue, 5.000%, 12/1/10                                         602,845 
     90,000                Cleveland, OH Waterworks Revenue, 5.250%, 1/1/11                                                95,151 
     110,000               Cleveland, OH Waterworks Revenue, 5.250%, 1/1/11                                               115,829 
     550,000               Cleveland, OH Waterworks Revenue, 5.250%, 1/1/13                                               581,477 
     640,000               Cleveland, OH Waterworks Revenue, 5.250%, 1/1/13                                               673,913 
     650,000               Cleveland, OH Waterworks Revenue, 5.000%, 1/1/16                                               680,244 
     600,000               Cleveland, OH Waterworks Revenue, 5.000%, 1/1/16                                               631,116 
     55,000                Cleveland, OH Waterworks Revenue, 5.000%, 1/1/17                                                57,852 
     60,000                Cleveland, OH Waterworks Revenue, 5.000%, 1/1/17                                                62,792 
     150,000               Cleveland, OH, G.O., (FGIC Ins), 5.500%, 11/15/13                                              164,564 
     85,000                Cleveland, OH, G.O., (MBIA Ins) (Various Purposes), 5.500%, 12/1/13                             94,763 
     180,000               Cleveland, OH, Public Power System Refunding Revenue, Series                                   187,850 
                           1, (MBIA Ins), 5.250%, 11/15/16                                                                        
     80,000                Cleveland, OH, School District Refunding, G.O., (FGIC Ins), 5.250%,                             87,414 
                            12/1/14                                                                                               
     100,000               Cleveland, OH, Waterworks Refunding Revenue, Series G, (MBIA                                   109,500 
                           Ins), 5.500%, 1/1/13                                                                                   
     100,000               Columbus State Community College, University & College                                         105,920 
                           Improvements Revenue, (AMBAC Ins), 5.500%, 12/1/10                                                     
     1,100,000             Columbus, OH, Police/Fireman Disability, G.O., 5.000%, 7/15/13                               1,166,781 
     160,000               Columbus, OH, Public Improvements, Series 1, G.O.,                                             173,808 
                           5.500%, 11/15/09                                                                                       
     60,000                Columbus, OH, Series A, G.O., 5.000%, 6/15/13                                                   65,557 
     26,800                Columbus, OH, Special Assessment, 5.700%, 7/15/06                                               27,203 
     745,000               Crawford County, OH, Refunding, G.O., (AMBAC Ins), 4.750%, 12/1/19                             775,343 
     370,000               Cuyahoga County, OH, Correctional Facilities Improvements, G.O.,                               398,490 
                           5.000%, 12/1/17                                                                                        
     100,000               Cuyahoga County, OH, Hospital Refunding Revenue, Series B, (MBIA                               102,628 
                           Ins), 5.500%, 1/15/16                                                                                  
     500,000               Cuyahoga County, OH, Hospital Revenue, Walker Center, Series I,                                527,720 
                           5.250%, 1/1/13                                                                                         
     265,000               Cuyahoga County, OH, Port Authority Revenue, (AMBAC Ins),                                      272,158 
                           4.000%, 8/1/12                                                                                         
     500,000               Dayton, OH, G.O., (MBIA Ins), 5.000%, 12/1/12                                                  528,065 
     435,000               Delaware County, OH, G.O., 5.000%, 12/1/18                                                     462,483 
     250,000               Dover, OH, Municipal Electric System Revenue, (FGIC Ins),                                      253,463 
                           5.500%, 12/1/07                                                                                        
     50,000                Dublin, OH, City School District Refunding, G.O., (MBIA Ins), 5.000%,                           52,283 
                            12/1/19                                                                                               
     205,000               Dublin, OH, Various Purposes, G.O., Series A, 6.000%, 12/1/15                                  230,414 
     125,000               East Liverpool, OH, City Hospital Revenue, Series B, (FSA Ins),                                        
                           4.750%, 10/1/13                                                                                128,845 
     500,000               Euclid, OH, G.O., 5.450%, 12/1/08                                                              511,840 
     500,000               Euclid, OH, G.O., 5.000%, 12/1/12                                                              527,755 
     115,000               Fairfield County, OH, Local School District, G.O., (FSA Ins), 5.000%,                          125,072 
                           12/1/12                                                                                                
     205,000               Fairlawn, OH, G.O., 5.750%, 12/1/13                                                            205,933 
     500,000               Franklin County, OH, Hospital Facility Authority Refunding                                     519,820 
                           Revenue, 5.800%, 11/1/10                                                                               
     200,000               Franklin County, OH, Refunding, G.O., 5.375%, 12/1/20                                          214,874 
     100,000               Girard, OH, Local School District, G.O., (AMBAC Ins), 5.850%, 12/1/19                          110,822 
     75,000                Goshen, OH, Local School District, G.O., 5.500%, 12/1/18                                        81,680 
     260,000               Hamilton County, OH, Sales Tax Revenue, Series B, (AMBAC Ins),                                 288,075 
                           5.750%, 12/1/12                                                                                        
     500,000               Hamilton County, OH, Sales Tax Revenue, Series B, (AMBAC Ins),                                 552,125 
                           5.750%, 12/1/17                                                                                        
     150,000               Hancock County, OH, Public Improvements, G.O., 5.450%,                                         157,317 
                           12/1/17                                                                                                
     315,000               Hancock County, OH, Refunding & Improvement Revenue, G.O.,                                     319,278 
                           5.200%, 12/1/08                                                                                        
     250,000               Hudson City, OH, Recreational Facilities Improvements, G.O.,                                   265,815 
                           5.000%, 12/1/14                                                                                        
     50,000                Kent State University, OH, General Receipts, Series A, (AMBAC Ins),                             51,665 
                           5.000%, 5/1/18                                                                                         
     500,000               Kent State University, OH, Revenue, (MBIA Ins), 5.300%, 5/1/10                                 521,665 
     230,000               Kettering, OH, City School District, G.O., (FGIC Ins), 5.000%, 12/1/16                         247,351 
     285,000               Lakewood, OH, City School District, G.O., (FSA Ins), 5.000%, 12/1/18                           303,835 
     50,000                Lakewood, OH, Public Improvements, G.O., 4.750%, 12/1/12                                        52,977 
     250,000               Lakota, OH, Local School District, G.O., (FGIC Ins), 5.050%, 12/1/13                           265,175 
     100,000               Licking County, OH, Joint Vocational School District, G.O., (MBIA Ins),                        110,382 
                           5.375%, 12/1/14                                                                                        
     150,000               London, OH, City School District, G.O., 5.500%, 12/1/14                                        164,994 
     300,000               Lorain County, Hospital Revenue, Series B, (MBIA Ins), 5.625%, 9/1/14                          317,889 
     500,000               Lorain County, OH, Revenue, Catholic Healthcare Partners, Series                               534,305 
                           B, (MBIA Ins), 6.000%, 9/1/08                                                                          
     100,000               Lorain, OH, Water Authority Revenue, (AMBAC Ins), 5.100%,                                      107,023 
                           10/1/09                                                                                                
     500,000               Lucas County, OH, G.O., 5.400%, 12/1/15                                                        511,905 
     50,000                Lucas County, OH, G.O., (AMBAC Ins), 5.375%, 12/1/11                                            52,274 
     810,000               Lucas County, OH, Hospital Refunding Revenue, (AMBAC Ins),                                     868,003 
                           5.000%, 11/15/11                                                                                       
     205,000               Lucas County, OH, Juvenile Justice, G.O., (FGIC Ins), 5.750%,                                  214,612 
                           11/15/11                                                                                               
     50,000                Mahoning County, OH, Hospital Facilities Revenue, Series A, (MBIA                               52,023 
                           Ins), 5.000%, 11/15/17                                                                                 
     500,000               Mahoning County, OH, Sewer Systems, Refunding Revenue,                                         537,560 
                           (AMBAC Ins), 5.200%, 12/1/14                                                                           
     100,000               Mansfield, OH, City School District, G.O., (MBIA Ins) (Various), 5.350%,                       108,865 
                           12/1/14                                                                                                
     1,010,000             Marysville, OH, Exempt Village School District, G.O., (MBIA Ins),                            1,101,667 
                           5.250%, 12/1/16                                                                                        
     500,000               Mason, OH, City School District, G.O., 5.150%, 12/1/12                                         534,750 
     175,000               Medina, OH, City School District, G.O., (FGIC Ins), 4.850%, 12/1/10                            186,216 
     70,000                Medina, OH, City School District, G.O., (FGIC Ins), 5.125%, 12/1/19                             75,230 
     300,000               Mentor, OH, Public Improvements, G.O., 5.250%, 12/1/10                                         313,044 
     250,000               Miami County, OH, G.O., 4.875%, 12/1/10                                                        262,885 
     200,000               Middleburg Heights, OH, Hospital Refunding Revenue, Southwest                                  215,258 
                           General Health Center, 5.625%, 8/15/15                                                                 
     50,000                Middleburg Heights, OH, Public Improvements Refunding, G.O.,                                    51,768 
                           4.300%, 12/1/10                                                                                        
     50,000                Montgomery County, OH, Cathlolic Health Revenue, 5.500%, 9/1/14                                 54,237 
     100,000               Montgomery County, OH, Public Improvements, G.O., 5.500%,                                      109,428 
                           12/1/11                                                                                                
     50,000                Montgomery County, OH, Public Improvements, G.O., 5.500%,                                       54,531 
                           12/1/13                                                                                                
     100,000               Montgomery County, OH, Solid Waste Revenue, (MBIA Ins), 5.500%,                                102,184 
                           11/1/10                                                                                                
     250,000               Montgomery County, OH, Water Refunding Revenue, (AMBAC Ins),                                   273,348 
                           5.375%, 11/15/16                                                                                       
     100,000               Muskingum County, OH, Hospital Facilities Refunding Revenue,                                   104,388 
                           Bethesda Hospital Association, (Connie Lee Ins), 5.400%, 12/1/16                                       
     250,000               Muskingum County, OH, Refunding & Improvement Revenue, Bethesda                                260,860 
                           Care System, (Connie Lee Ins), 5.350%, 12/1/07                                                         
     110,000               New Albany, OH, Plain Local School District, G.O., (FSA Ins), 4.000%,                          112,750 
                           12/1/12                                                                                                
     100,000               North Olmsted, OH, Public Improvements Refunding, G.O.,                                        108,601 
                           (FGIC Ins), 5.250%, 12/1/11                                                                            
     100,000               North Olmsted, OH, Public Improvements Refunding, G.O.,                                        109,477 
                           (FGIC Ins), 5.500%, 12/1/12                                                                            
     100,000               North Olmsted, OH, Public Improvements, G.O., (AMBAC Ins),                                     104,415 
                           5.000%, 12/1/16                                                                                        
     400,000               Northeast, OH, Regional Sewer District Refunding Revenue (AMBAC                                405,144 
                           Ins), 5.500%, 11/15/12                                                                                 
     235,000               Norwalk, OH, Refunding, G.O., 5.550%, 4/1/09                                                   242,694 
     250,000               Norwalk, OH, Refunding, G.O., 5.600%, 4/1/10                                                   258,245 
     300,000               Norwalk, OH, Refunding, G.O., 5.900%, 4/1/15                                                   310,071 
     1,000,000             Ohio Municipal Electric Generation Agency Refunding Revenue, (AMBAC                          1,072,630 
                            Ins), 5.000%, 2/15/17                                                                                 
     330,000               Ohio State Building Authority Arts & Sports Projects Revenue, Series A,                        354,981 
                           (MBIA Ins), 5.000%, 10/1/10                                                                            
     1,100,000             Ohio State Building Authority Facilities Revenue, Administration                             1,195,667 
                           Building, Series A, 5.250%, 10/1/11                                                                    
     520,000               Ohio State Building Authority Facilities Revenue, Administration                               559,036 
                           Building, Series A, 5.375%, 10/1/14                                                                    
     170,000               Ohio State Building Authority Refunding Revenue, Series A,                                     183,656 
                           5.250%, 6/1/10                                                                                         
     65,000                Ohio State Building Authority Revenue, Series A, (FSA Ins),                                     71,773 
                           5.500%, 4/1/15                                                                                         
     70,000                Ohio State Building Authority Sports Facilities Revenue, (FSA Ins),                             74,075 
                           5.200%, 10/1/09                                                                                        
     300,000               Ohio State Building Authority Sports Facilities Revenue, (FSA Ins),                            317,988 
                           5.375%, 10/1/11                                                                                        
     75,000                Ohio State Building Authority Sports Facilities Revenue, Series A, 5.250%,                      80,349 
                            10/1/13                                                                                               
     300,000               Ohio State Building Authority State Facilities Revenue, Administration                         327,486 
                           Building, Series A, 5.375%, 10/1/13                                                                    
     400,000               Ohio State Building Authority State Facilities Revenue, Adult Correctional,                    433,260 
                            Series A, 5.500%, 10/1/09                                                                             
     200,000               Ohio State Building Authority State Facilities Revenue, Adult Correctional,                    219,254 
                            Series A, 5.500%, 10/1/13                                                                             
     135,000               Ohio State Building Authority State Facilities Revenue, Adult Correctional,                    147,996 
                            Series A, 5.500%, 10/1/15                                                                             
     300,000               Ohio State Building Authority State Facilities Revenue, Juvenile                               321,600 
                           Correctional, 5.250%, 10/1/10                                                                          
     545,000               Ohio State Building Authority State Facilities Revenue, Series A, (FSA                         604,050 
                           Ins), 5.500%, 10/1/11                                                                                  
     500,000               Ohio State Building Authority State Facilities Revenue, Series A, (FSA                         548,135 
                           Ins), 5.500%, 10/1/12                                                                                  
     100,000               Ohio State Building Authority State Facilities Revenue, Series A, (FSA                         109,646 
                           Ins), 5.500%, 10/1/15                                                                                  
     60,000                Ohio State Building Authority, Refunding Revenue, Series A, (FGIC                               64,676 
                           Ins), 5.000%, 4/1/11                                                                                   
     150,000               Ohio State Building Authority, State Facilities Revenue, Series A, 5.000%,                     160,526 
                            4/1/16                                                                                                
     140,000               Ohio State Community Schools, G.O., Series B, 5.000%, 9/15/18                                  149,108 
     200,000               Ohio State Higher Education Capital Facilities, G.O., Series B, 5.625%,                        219,668 
                           5/1/15                                                                                                 
     190,000               Ohio State Higher Education Capital Facilities, G.O., Series II-A, 5.500%,                     206,407 
                           12/1/09                                                                                                
     100,000               Ohio State Higher Education Facilities Revenue, (AMBAC Ins),                                   105,192 
                           5.200%, 12/1/10                                                                                        
     1,000,000             Ohio State Higher Education Facilities Revenue, Case Western                                 1,045,179 
                           Reserve University, 5.000%, 10/1/11                                                                    
     700,000               Ohio State Higher Education, Capital Facilities, G.O., Series A, 5.375%,                       768,900 
                           2/1/15                                                                                                 
     335,000               Ohio State Higher Education, G.O., Series A, 5.000%, 5/1/09                                    355,080 
     300,000               Ohio State Higher Educational Facilities Revenue, Xavier University,                           315,885 
                            (MBIA Ins), 5.350%, 5/15/12                                                                           
     500,000               Ohio State Highway Capital Improvements, Series I, G.O.,                                       513,665 
                           4.000%, 5/1/12                                                                                         
     25,000                Ohio State Highway Improvements Revenue, 5.000%, 2/15/17                                        26,355 
     400,000               Ohio State Infrastructure Improvement Refunding, G.O., Series                                  424,816 
                            R, 5.250%, 8/1/12                                                                                     
     150,000               Ohio State Parks & Recreation Revenue, Series II-A, (FSA Ins),                                 160,775 
                           5.000%, 12/1/17                                                                                        
     275,000               Ohio State Public Facilities Revenue, Series II-A, 5.200%,                                     294,423 
                           6/1/12                                                                                                 
     100,000               Ohio State Turnpike Commission Revenue, Series B, (FGIC Ins),                                  106,302 
                           5.250%, 2/15/12                                                                                        
     500,000               Ohio State University General Receipts Revenue, Series A, 5.100%,                              541,255 
                            12/1/10                                                                                               
     100,000               Ohio State University General Receipts Revenue, Series A, 5.125%,                              108,348 
                            12/1/11                                                                                               
     30,000                Ohio State Water Development Authority Refunding Revenue,                                       32,784 
                           5.250%, 6/1/11                                                                                         
     100,000               Ohio State Water Development Authority Revenue, (MBIA Ins),                                    104,778 
                           5.000%, 12/1/09                                                                                        
     150,000               Ohio State Water Development Authority Revenue, Fresh Water                                    159,102 
                           Series, (FSA Ins), 5.250%, 12/1/10                                                                     
     445,000               Ohio State Water Development Authority Revenue, Public                                         471,415 
                           Improvements, (FSA Ins), 5.000%, 6/1/14                                                                
     210,000               Ohio State Water Development Authority, Community Assistance,                                  223,858 
                           (AMBAC Ins), 5.250%, 12/1/17                                                                           
     350,000               Ohio State Water Development Authority, Pollution Control Revenue,                             381,538 
                           5.000%, 6/1/13                                                                                         
     250,000               Plain, OH, Local School District, G.O., (FGIC Ins), 5.700%, 12/1/14                            278,530 
     60,000                Plain, OH, Local School District, G.O., (FGIC Ins), 5.500%, 12/1/18                             65,798 
     55,000                Portage County, OH, Hospital Revenue, (MBIA Ins), 5.800%,                                       56,288 
                           11/15/15                                                                                               
     100,000               Portage County, OH, Public Improvements, G.O., (MBIA Ins),                                     106,014 
                           5.250%, 12/1/17                                                                                        
     100,000               River Valley, OH, Local School District, G.O., (FSA Ins), 5.250%,                              108,233 
                           11/1/16                                                                                                
     1,040,000             Shaker Heights, OH, Urban Renewal Refunding, G.O., (AMBAC Ins),                              1,110,969 
                           5.000%, 12/1/17                                                                                        
     200,000               Sidney, OH, City School District, G.O., (FGIC Ins), 5.000%, 12/1/12                            217,266 
     500,000               Springboro, OH, Community School District Refunding, G.O., (AMBAC                              517,380 
                           Ins), 5.250%, 12/1/16                                                                                  
     1,000,000             Springfield, OH, City School District, G.O., (FGIC Ins), 5.000%, 12/1/17                     1,068,239 
     130,000               Springfield, OH, G.O., (FGIC Ins), 5.500%, 12/1/17                                             141,300 
     250,000               Stow, OH, Public Improvements, G.O., (MBIA Ins), 6.150%, 12/1/15                               256,343 
     145,000               Strasburg Franklin, OH, Local School District, G.O., (AMBAC Ins), 4.000%,                      147,219 
                            12/1/14                                                                                               
     55,000                Strongsville, OH, G.O., 6.700%, 12/1/11                                                         58,282 
     325,000               Strongsville, OH, Library Improvements, G.O., (FGIC Ins),                                      345,660 
                           5.000%, 12/1/15                                                                                        
     235,000               Swanton, OH, Local School Disctrict, School Improvement, G.O.,  (FGIC                          250,522 
                           Ins), 4.900%, 12/1/15                                                                                  
     500,000               Teays Valley, OH, Local School District, School Facilities Construction                        543,255 
                            & Improvement, G.O., (FGIC Ins), 5.150%, 12/1/14                                                      
     315,000               Toledo, OH, Sewer System Revenue, 5.250%, 11/15/13                                             342,900 
     500,000               Troy, OH, Capital Facilities, G.O., 6.250%, 12/1/11                                            548,885 
     350,000               Trumbull County, OH, Public Improvements Refunding, G.O.,                                      383,614 
                           (MBIA Ins), 5.125%, 12/1/13                                                                            
     655,000               Twinsburg, OH, Recreational Facilities Improvements, G.O., (FGIC                               717,762 
                            Ins), 5.500%, 12/1/17                                                                                 
     100,000               University of Akron, OH, General Receipts Revenue, (AMBAC Ins),                                104,375 
                           5.125%, 1/1/11                                                                                         
     1,000,000             University of Cincinnati, OH, Certificate Participation, (MBIA Ins),                         1,094,490 
                           5.000%, 6/1/15                                                                                         
     500,000               University of Cincinnati, OH, Certificate Participation, University                            542,575 
                           Center Project, (MBIA Ins), 5.100%, 6/1/11                                                             
     100,000               University of Cincinnati, OH, General Receipts Revenue, Series W,                              102,664 
                            5.650%, 6/1/11                                                                                        
     50,000                Warren County, OH, Waterworks Refunding Revenue, (FSA Ins),                                     54,118 
                           5.000%, 12/1/15                                                                                        
     500,000               Westlake, OH, Refunding & Improvement, G.O., 5.350%,                                           536,990 
                           12/1/10                                                                                                
     165,000               Whitehall, OH, Public Improvements, G.O., (AMBAC Ins),                                         172,748 
                           4.950%, 12/1/10                                                                                        
     100,000               Worthington, OH, City School District Refunding, G.O., (FGIC Ins),                             106,231 
                           5.000%, 12/1/09V                                                                            ---------- 

Total Municipal Bonds (Cost $52,312,133)                                                                               52,970,311 
                                                                                                                       ---------- 

Cash Equivalent  (0.3%):                                                                                                          
     158,148               Fidelity Institutional Tax-Exempt Fund                                                         158,148 
                                                                                                                          ------- 
Total Cash Equivalent (Cost $158,148)                                                                                     158,148 
                                                                                                                          ------- 

Total Investments (Cost $52,470,281) (a)   -   98.6%                                                                   53,128,459 
Other Assets in Excess of Liabilities   -   1.4%                                                                          727,790 
                                                                                                                          ------- 

NET ASSETS   -   100.0%                                                                                               $53,856,249 
                                                                                                                       ========== 
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

Huntington Short/Intermediate Fixed Income Securities                                                                             
Fund                                                                                                                              
Portfolio of Investments                                                                                       September 30, 2005 
(Unaudited)                                                                                                                       

     Principal             Security                                                                                               
     Amount or Shares      Description                                                                                      Value 

Corporate Bonds  (66.1%):                                                                                                         
Banks  (4.0%):                                                                                                                    
     $2,363,637            Marshall & Ilsley Bank, 2.900%, 8/18/09                                                     $2,272,779 
     3,000,000             National City Bank, 4.250%, 1/29/10                                                          2,945,733 
                                                                                                                        --------- 
                                                                                                                        5,218,512 
                                                                                                                       ---------- 
Consumer Discretionary  (5.0%):                                                                                                   
     1,495,000             Harman International Industries, Inc., 7.125%, 2/15/07                                       1,532,036 
     1,000,000             Knight-Ridder, Inc., 6.300%, 12/15/05                                                        1,002,634 
     2,000,000             Metropolitan Life Global Funding, 4.250%, 7/30/09 (c)                                        1,970,138 
     1,000,000             Prudential Financial Co., 6.375%, 7/23/06 (c)                                                1,013,808 
     1,000,000             Viacom, Inc., 5.625%, 5/1/07                                                                 1,012,517 
                                                                                                                        --------- 
                                                                                                                        6,531,133 
                                                                                                                       ---------- 
Consumer Products  (5.0%):                                                                                                        
     2,000,000             Costco Wholesale Corp., 5.500%, 3/15/07                                                      2,024,200 
     3,000,000             Earthgrains Co., 6.500%, 4/15/09                                                             3,135,480 
     1,500,000             Fortune Brands, Inc., 2.875%, 12/1/06                                                        1,468,536 
                                                                                                                        --------- 
                                                                                                                        6,628,216 
                                                                                                                       ---------- 
Electrical Services  (4.5%):                                                                                                      
     2,000,000             Alabama Power Co., 3.125%, 5/1/08                                                            1,927,796 
     1,000,000             Baltimore Gas & Electric, 5.250%, 12/15/06                                                   1,008,153 
     3,000,000             Virginia Electric & Power, 5.750%, 3/31/06                                                   3,018,435 
                                                                                                                        --------- 
                                                                                                                        5,954,384 
                                                                                                                       ---------- 
Energy  (6.8%):                                                                                                                   
     2,000,000             Anadarko Petroleum Corp., 3.250%, 5/1/08                                                     1,931,990 
     2,000,000             Burlington Resources, Inc., 5.600%, 12/1/06                                                  2,022,822 
     3,000,000             Chevron Phillips Chemical Co., 5.375%, 6/15/07                                               3,025,098 
     2,000,000             Marathon Oil Corp., 5.375%, 6/1/07                                                           2,021,756 
                                                                                                                        --------- 
                                                                                                                        9,001,666 
                                                                                                                       ---------- 
Financial Services  (15.7%):                                                                                                      
     3,000,000             AIG International Lease Finance Corp., 4.500%, 5/1/08                                        2,973,014 
     2,000,000             Bear Stearns Co., 3.000%, 3/30/06                                                            1,987,544 
     2,000,000             Caterpillar Financial Services Corp., 3.670%, 10/4/07                                        1,955,058 
     3,000,000             Countrywide Home Loan, 3.250%, 5/21/08                                                       2,887,749 
     1,000,000             Ford Motor Credit Co., 6.500%, 1/25/07                                                       1,001,163 
     2,000,000             Ford Motor Credit Co., 4.950%, 1/15/08                                                       1,903,274 
     3,000,000             General Electric Capital Corp., 3.750%, 12/15/09                                             2,897,154 
     3,000,000             HSBC Finance Corp., 4.800%, 6/15/10                                                          2,943,018 
     2,000,000             MBIA Global Funding LLC, 2.875%, 11/30/06                                                    1,949,326 
                                                                                                                        --------- 
                                                                                                                       20,497,300 
                                                                                                                       ---------- 
Financials  (2.3%):                                                                                                               
     3,000,000             KeyCorp., 4.700%, 5/21/09                                                                    2,995,611 
                                                                                                                        --------- 
Industrials  (4.6%):                                                                                                              
     3,000,000             Rockwell International Corp., 6.150%, 1/15/08                                                3,080,655 
     3,000,000             Union Pacific Corp., 3.875%, 2/15/09                                                         2,915,502 
                                                                                                                        --------- 
                                                                                                                        5,996,157 
                                                                                                                       ---------- 
Materials  (1.5%):                                                                                                                
     2,000,000             Monsanto Co., 4.000%, 5/15/08                                                                1,965,158 
                                                                                                                        --------- 
Real Estate Investment Trusts  (3.0%):                                                                                            
     2,000,000             Amb Property L.P., 7.200%, 12/15/05                                                          2,010,840 
     2,000,000             Camden Property Trust, 4.375%, 1/15/10                                                       1,944,996 
                                                                                                                        --------- 
                                                                                                                        3,955,836 
                                                                                                                       ---------- 
Residential Building Construction  (2.3%):                                                                                        
     3,000,000             Centex Corp., 4.750%, 1/15/08                                                                2,981,013 
                                                                                                                        --------- 
Retail  (5.4%):                                                                                                                   
     3,000,000             CVS Corp., 3.875%, 11/1/07                                                                   2,952,846 
     1,000,000             Nordstrom, Inc., 5.625%, 1/15/09                                                             1,022,932 
     3,000,000             Tandy Corp., 6.950%, 9/1/07                                                                  3,105,438 
                                                                                                                        --------- 
                                                                                                                        7,081,216 
                                                                                                                       ---------- 
Security Brokers & Dealers  (1.5%):                                                                                               
     2,000,000             Merrill Lynch & Co., 4.250%, 2/8/10                                                          1,955,202 
                                                                                                                        --------- 
Telephone Communication  (3.8%):                                                                                                  
     1,000,000             Bell Atlantic Financial, 7.600%, 3/15/07                                                     1,039,860 
     3,000,000             Bellsouth Corp., 4.200%, 9/15/09                                                             2,941,842 
     1,000,000             GTE North, Inc., 5.650%, 11/15/08                                                            1,016,037 
                                                                                                                        --------- 
                                                                                                                        4,997,739 
                                                                                                                       ---------- 
Tools & Accessories  (0.7%):                                                                                                      
     1,000,000             Stanley Works, 3.500%, 11/1/07                                                                 977,538 
                                                                                                                          ------- 
Total Corporate Bonds (Cost $88,633,788)                                                                               86,736,681 
                                                                                                                       ---------- 

U.S. Government Agencies (32.9%): Federal Home Loan Bank (11.6%):                                                                 
     1,000,000             3.640%, 10/6/05                                                                                999,700 
     1,000,000             2.000%, 12/9/05                                                                                996,405 
     2,000,000             2.950%, 9/14/06                                                                              1,974,090 
     3,000,000             3.600%, 2/23/07                                                                              2,967,621 
     3,000,000             3.850%, 1/30/08                                                                              2,962,032 
     2,000,000             3.375%, 2/15/08                                                                              1,952,568 
     1,000,000             3.500%, 12/26/08                                                                               970,691 
     2,500,000             3.875%, 8/14/09                                                                              2,447,423 
                                                                                                                        --------- 
                                                                                                                       15,270,530 
                                                                                                                       ---------- 
Federal Home Loan Mortgage Corporation  (14.6%):                                                                                  
     2,000,000             2.200%, 12/30/05                                                                             1,991,418 
     1,000,000             5.250%, 1/15/06                                                                              1,003,289 
     2,000,000             3.050%, 1/19/07                                                                              1,967,192 
     1,000,000             4.260%, 7/19/07                                                                                997,497 
     1,000,000             3.300%, 9/14/07                                                                                980,897 
     1,000,000             3.500%, 3/24/08                                                                                979,386 
     1,500,000             3.500%, 4/28/08                                                                              1,467,699 
     2,000,000             3.650%, 5/7/08                                                                               1,962,912 
     3,000,000             3.600%, 5/22/08                                                                              2,940,762 
     1,000,000             3.875%, 1/12/09                                                                                978,912 
     2,000,000             4.250%, 2/24/10                                                                              1,968,984 
     2,000,000             4.875%, 8/24/10                                                                              1,997,954 
                                                                                                                        --------- 
                                                                                                                       19,236,902 
                                                                                                                       ---------- 
Federal National Mortgage Association  (6.7%):                                                                                    
     2,000,000             2.650%, 2/23/07                                                                              1,953,106 
     2,000,000             3.050%, 4/20/07                                                                              1,960,272 
     2,000,000             3.750%, 9/15/08                                                                              1,959,084 
     2,000,000             3.625%, 3/16/09                                                                              1,942,918 
     1,000,000             3.850%, 4/14/09                                                                                978,006 
                                                                                                                          ------- 
                                                                                                                        8,793,386 
Total U.S. Government Agencies (Cost $44,004,003)                                                                      43,300,818 
                                                                                                                       ---------- 

Cash Equivalent  (0.4%):                                                                                                          
     570,237               Huntington Money Market Fund, Interfund Shares *                                               570,237 
                                                                                                                          ------- 
Total Cash Equivalent (Cost $570,237)                                                                                     570,237 
                                                                                                                          ------- 

Total Investments (Cost $133,208,028) (a)   -   99.4%                                                                 130,607,736 
Other Assets in Excess of Liabilities   -   0.6%                                                                          811,278 
                                                                                                                          ------- 

NET ASSETS   -   100.0%                                                                                              $131,419,014 
                                                                                                                      =========== 
------------                                                                                                                      
See Notes to Portfolio of Investments.                                                                                            

                                                        [Enlarge/Download Table]
NOTES  TO                                                                                                                   
PORTFOLIO OF INVESTMENTS (UNAUDITED)                                                                                        


----------------------------------------------------------------------------------------------------------------------------
                                                                         Unrealized        Unrealized     Net Unrealized    
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
(a)  Fund                                            Tax Cost of         Unrealized       Depreciation     Appreciation     
                                                     Securities         Appreciation                    (Depreciation)***   
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
                                                                                                                            
     Huntington Florida Tax-Free Money Fund          $23,863,577             $-                $-               $-          
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington Money Market Fund                    733,846,498              -                -                -           
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington Ohio Municipal Money Market Fund     176,238,395              -                -                -           
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington U.S. Treasury Money Market Fund      646,801,395              -                -                -           
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington Dividend Capture Fund                122,920,506          5,762,101       (2,720,689)       3,041,412       
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington Growth Fund                          150,817,911         122,359,471      (5,196,589)      117,162,883      
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington Income Equity Fund                   170,910,090         59,019,817       (4,502,431)       54,517,386      
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington International Equity Fund            135,426,402         40,686,201        (920,429)        39,765,772      
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington Macro 100 Fund                       25,688,667           2,114,125        (576,956)        1,537,169       
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington Mid Corp America Fund                106,474,472         61,305,156       (1,415,444)       59,889,712      
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington New Economy Fund                     60,954,115          24,906,558       (1,123,572)       23,782,985      
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington Rotating Markets Fund                23,913,572           6,034,754            -            6,034,754       
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington Situs Small Cap Fund                 60,035,436          28,098,513       (1,012,345)       27,086,168      
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington Fixed Income Fund                    167,694,690          3,806,079       (1,847,455)       1,958,625       
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington Intermediate Government Income       110,153,003           638,067        (1,199,601)       (561,533)       
     Fund                                                                                                                   
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington Michigan Tax-Free Fund               31,199,511            437,638         (169,792)         267,846        
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington Mortgage Securities Fund             81,259,288           2,841,755        (972,520)        1,869,235       
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington Ohio Tax-Free Fund                   52,470,281            881,748         (223,570)         658,178        
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
     Huntington Short/Intermediate Fixed Income      133,208,028           16,062         (2,616,355)      (2,600,292)      
     Securities Fund                                                                                                        
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
*** The difference between the book-basis and tax-basis cost of securities is attributable primarily to tax deferral of     
loses on wash sales.                                                                                                        
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
(b)  Non-income producing security                                                                                          
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
(c) Rule 144 A, Section 4(2) or other security, which is restricted to institutional                                        
investors.                                                                                                                  
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
(d) All or part of the security was on loan as of September 30,                                                             
2005.                                                                                                                       
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
 *  Affiliated                                                                                                              
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
**  Variable Rate Demand Notes-rates disclosed in effect at                                                                 
September 30, 2005.                                                                                                         
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------

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

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

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ADR - American Depositary Receipt                                               
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AMBAC - American Municipal Bond Assurance Corporation                           
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AMEX - American Stock Exchange                                                  
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BAN - Bank Anticipation Notes                                                   
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EAFE - Europe Australasia Far East                                              
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EMU - European Monetary Union                                                   
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FGIC - Financial Guaranty Insurance Corporation                                 
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FSA - Financial Security Assurance                                              
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GO - General Obligation                                                         
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LOC - Line of Credit                                                            
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MBIA - Municipal Bond Insurance Association                                     
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MSCI - Morgan Stanley Capital International                                     
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REMIC - Real Estate Mortgage Investment Conduit                                 
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S&P - Standard & Poor's                                                         
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SPDR - Standard & Poor's Depository Receipt                                     
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                                                        [Enlarge/Download Table]

This  report  contains  the  Portfolio  of  Investments  of  the  funds  listed  below
(individually referred to as a "Fund," or collectively as the "Funds"):               


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

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

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 Huntington  Funds (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
policies  approved by the Board of Trustees  ("Trustees"),  the Trust  relies on
certain security pricing services to provide current market value of securities.
Those security  pricing  services value equity  securities  traded on a national
securities exchange or reported on the NASDAQ National Market System 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  not
included in the NASDAQ  National  Market System,  securities are valued at a bid
price estimated by the security pricing  service.  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.  Foreign
securities are valued at a bid price estimated by the security  pricing service,
and are subject to modification based on significant events, as described below.
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,  securities
are valued at a bid price  estimated by the  security  pricing  service.  Option
contracts  are valued at the last  quoted bid price as  reported  on the primary
exchange  of the board of trade 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. In such situations, the Trust's sub-financial
administrator  may request  that the Trust's  Pricing  Committee,  as  described
herein, to make its own fair value determination.                               

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
(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 New York  Stock  Exchange  ("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 to be creditworthy  pursuant to the guidelines and/or standards reviewed
or  established  by the  Trustees.  It is the policy of the Funds to require the
custodian bank to take possession of, to have legally  segregated in the Federal
Reserve Book Entry System,  or to have  segregated  within the custodian  bank's
vault,   all  securities   held  as  collateral   under   repurchase   agreement
transactions.  Additionally,  procedures  have been  established by the Funds to
monitor,  on a daily  basis,  the market  value of each  repurchase  agreement's
collateral to ensure that the value of collateral at least equals the repurchase
price to be paid under the repurchase agreement transaction. If the counterparty
defaults  and the fair  value of the  collateral  declines,  realization  of the
collateral by the Funds may be delayed or limited.                              

C.  When-Issued and Delayed Transactions                                        

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

D.    Foreign Exchange Contracts                                                

International  Equity,  Rotating  Markets  and Situs  Small  Cap may enter  into
foreign  currency  commitments for the delayed delivery of securities or foreign
currency exchange transactions. International Equity, Rotating Markets and Situs
Small Cap may enter  into  foreign  currency  contract  transactions  to protect
assets against  adverse changes in foreign  currency  exchange rates or exchange
control regulations.  Purchase contracts are used to acquire exposure to foreign
currencies,  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  September  30,  2005
International  Equity,  Rotating  Markets and Situs Small Cap had no outstanding
foreign currency commitments.                                                   

E.    Foreign Currency Translation                                              

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

F.    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.                  

                                                        [Enlarge/Download Table]

-----------------------------------------------------------------------------------------------------------------------
The following is a summary of Dividend Capture's written option activity for the quarter                               
ended September 30, 2005:                                                                                              
-----------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------

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

Contracts                                                         Number of          Premium                           
                                                                 Contracts                                             
-----------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------
                                                                                                                       
Outstanding at 06/30/2005                                            250            $ 19,599                           
-----------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------
Options written                                                      350              69,452                           
-----------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------
Options expired                                                      -                   -                             
-----------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------
Options closed                                                      (10)               (490)                           
-----------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------
Options exercised                                                  (125)             (9,187)                           
-----------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------
Outstanding at 09/30/2005                                           465             $ 79,374                           
-----------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------

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

                                                        [Enlarge/Download Table]

At September 30, 2005, Dividend Capture had the following                                                                        
outstanding options:                                                                                                             
-----------------------------------------------------------------------------------------------------------------------          
-----------------------------------------------------------------------------------------------------------------------          

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

-----------------------------------------------------------------------------------------------------------------------          
-----------------------------------------------------------------------------------------------------------------------          
WRITTEN OPTION CONTRACTS                                                                                                         
-----------------------------------------------------------------------------------------------------------------------          
-----------------------------------------------------------------------------------------------------------------------          

Contracts                                           Type     Expiration      Exercise   Number      Fair          Unrealized     
                                                                Date          Price     of           Value       Appreciation    
                                                                                        Contracts               (Depreciation)   
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                 
ChevronTexaco Corp.                                 Call    December           65         150                                    
                                                            2005                                    48,000         (24,596)      
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
ConocoPhillips                                      Call    November           70         150                                    
                                                            2005                                     48,000         (1,952)      
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
Equity Office Propeties Trust                       Call    October 2005       35          90                                    
                                                                                                        900          3,510       
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
Kimco Realty Trust                                  Call    October 2005       30          75                                    
                                                                                                     10,125         (4,613)      
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
NET UNREALIZED DEPRECIATION ON WRITTEN OPTION CONTRACTS                                                           $ (27,651)     
---------------------------------------------------------------------------------------------------------------------------------

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

                                                        [Enlarge/Download Table]
The following is a summary of Income Equity's written option activity for the                                                    
quarter ended September 30, 2005:                                                                                                
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------

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

Contracts                                                          Number of           Premium                                   
                                                                   Contracts                                                     
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                 
Outstanding at 06/30/2005                                            16,169         $ 3,167,910                                  
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
Options written                                                      23,308           3,870,607                                  
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
Options expired                                                     (1,470)           (104,449)                                  
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
Options closed                                                     (12,309)         (2,090,309)                                  
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
Options exercised                                                      (26)             (9,942)                                  
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
Outstanding at 09/30/2005                                            25,672         $ 4,833,817                                  
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------

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

---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
                                                        [Enlarge/Download Table]
At September 30, 2005, Income Equity had the following                                                                             
outstanding options:                                                                                                               
---------------------------------------------------------------------------------------------------------------------------------  
---------------------------------------------------------------------------------------------------------------------------------  

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

---------------------------------------------------------------------------------------------------------------------------------  
---------------------------------------------------------------------------------------------------------------------------------  
WRITTEN OPTION CONTRACTS                                                                                                           
---------------------------------------------------------------------------------------------------------------------------------  
---------------------------------------------------------------------------------------------------------------------------------  

Contracts                                      Type     Expiration      Exercise    Number      Fair Value         Unrealized      
                                                          Date           Price      of                            Appreciation     
                                                                                    Contracts                    (Depreciation)    
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                   
Alltel Corp.                                   Call     October 2005       65         1200                                         
                                                                                                   132,000          (31,204)       
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Automatic Data Processing, Inc.                Call     November 2005     47.5        476                                          
                                                                                                     4,760           19,753        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
ChevronTexaco Corp.                            Call     December 2005      50         1148                                         
                                                                                                 1,687,560         (864,479)       
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Citigroup, Inc.                                Call     December 2005      45         848                                          
                                                                                                   118,720          (37,074)       
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
ConocoPhillips                                 Call     November 2005      50         1178                                         
                                                                                                 2,344,220        (1,169,804)      
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Consolidated Edison, Inc.                      Call     January 2006       50         930                                          
                                                                                                    93,000          (23,485)       
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Duke Energy Corp.                              Call     January 2006       30         1660                                         
                                                                                                   107,900           23,234        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Equity Office Propeties Trust                  Call     January 2006       35         760                                          
                                                                                                    34,200           41,037        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Equity Residential Properties Trust            Call     January 2006       40         558                                          
                                                                                                    27,900           (559)         
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Exelon Corp.                                   Call     January 2006       50         325                                          
                                                                                                   152,750          (85,478)       
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
First Data Corp.                               Call     November 2005      45         502                                          
                                                                                                     5,020           33,291        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Fortune Brands, Inc.                           Call     December 2005      90         550                                          
                                                                                                    16,500          143,208        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
General Electric Co.                           Call     December 2005      35         1400                                         
                                                                                                    63,000           21,122        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Genuine Parts Co.                              Call     November 2005      45         1450                                         
                                                                                                    43,500          101,314        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Intel Corp.                                    Call     October 2005      27.5        965                                          
                                                                                                     4,825           86,846        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Lincoln National Corp.                         Call     January 2006       55         1302                                         
                                                                                                   104,160          (12,763)       
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Microsoft Corp.                                Call     October 2005      27.5        830                                          
                                                                                                     4,150           28,219        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Molson Coors Brewing Co., Class B              Call     January 2006       70         440                                          
                                                                                                    39,600           5,758         
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Monsanto Co.                                   Call     January 2006       70         640                                          
                                                                                                    89,600           74,681        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Occidental Petroleum Corp.                     Call     November 2005      85         470                                          
                                                                                                   197,400          (10,818)       
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Occidental Petroleum Corp.                     Call     January 2006       70         470                                          
                                                                                                   770,800         (245,832)       
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
PPG Industries, Inc.                           Call     November 2005      65         490                                          
                                                                                                     4,900           49,978        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Progress Energy, Inc.                          Call     October 2005       45         703                                          
                                                                                                    10,545           41,475        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
R.R. Donnelley & Sons Co.                      Call     December 2005      40         663                                          
                                                                                                     6,630           22,541        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
R.R. Donnelley & Sons Co.                      Call     December 2005      35         940                                          
                                                                                                   220,900         (106,000)       
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Sprint Corp.                                   Call     November 2005     27.5        1100                                         
                                                                                                     5,500           86,896        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Thompson Corp.                                 Call     January 2006       40         1084                                         
                                                                                                    37,940           17,504        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
V.F. Corp.                                     Call     November 2005      60         459                                          
                                                                                                    45,900           51,404        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Wachovia Corp.                                 Call     October 2005       50         594                                          
                                                                                                     2,970          105,133        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Washington Mutual, Inc.                        Call     October 2005       45         749                                          
                                                                                                     3,745           32,954        
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Wyeth                                          Call     January 2006       50         788                                          
                                                                                                    47,280           7,090         
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
NET UNREALIZED DEPRECIATION ON WRITTEN OPTION CONTRACTS                                                          $(1,594,058)      
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------

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

-----------------------------------------------------------------------------------------------------------------------------------
                                                        [Enlarge/Download Table]
The following is a summary of Situs Small Cap's written option activity for the quarter                                            
ended September 30, 2005:                                                                                                          
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------

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

Contracts                                                         Number of          Premium                                       
                                                                 Contracts                                                         
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                   
Outstanding at 06/30/2005                                               -             $  -                                         
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Options written                                                        740             230,099                                     
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Options expired                                                         -                -                                         
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Options closed                                                        (300)           (109,225)                                    
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Options exercised                                                       -                -                                         
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Outstanding at 09/30/2005                                              440           $ 120,874                                     
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------

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

-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
                                                        [Enlarge/Download Table]
At September 30, 2005, Situs Small Cap had the following                                                                           
outstanding options:                                                                                                               
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------

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

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

-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
WRITTEN OPTION CONTRACTS                                                                                                           
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------

Contracts                                                  Type    Expiration      Exercise    Number     Fair Value    Unrealized 
                                                                     Date           Price      of                      Appreciation
                                                                                              Contracts               (Depreciation
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                   
Florida Rock Industries                                    Put     December 2005      55         120          8,400      33,638    
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Florida Rock Industries                                    Call    December 2005      55         120        124,800     (76,063)   
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Precision Castparts Corp.                                  Call    December 2005      50         200         94,000     (63,901)   
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
NET UNREALIZED DEPRECIATION ON WRITTEN OPTION CONTRACTS                                                               $(106,326)   
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------

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

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

-----------------------------------------------------------------------------------------------------------------------------------
                                                        [Enlarge/Download Table]
The following is a summary of Mortgage Securities' written option activity for                                                     
the quarter ended September 30, 2005:                                                                                              
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------

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


Contracts                                                         Number of             Premium                                    
                                                                 Contracts                                                         
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                   
Outstanding at 06/30/2005                                                                                                          
                                                                        214             $ 21,737                                   
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Options written                                                                                                                    
                                                                          -             -                                          
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Options expired                                                                                                                    
                                                                          -             -                                          
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Options closed                                                                                                                     
                                                                          -             -                                          
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Options exercised                                                                                                                  
                                                                          -             -                                          
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Outstanding at 9/30/2005                                                                                                           
                                                                        214             $ 21,737                                   
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------

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

-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
                                                        [Enlarge/Download Table]
At September 30, 2005, Mortgage Securities' had the following                                                                      
outstanding options:                                                                                                               
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------

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

-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
WRITTEN OPTION CONTRACTS                                                                                                           
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------

Contracts                                               Type    Expiration      Exercise    Number     Fair           Unrealized   
                                                                  Date           Price      of          Value        Appreciation  
                                                                                            Contracts               (Depreciation  
---------------------------------------------------------------------------------------------------------------------------------  
---------------------------------------------------------------------------------------------------------------------------------  
                                                                                                                                   
Boston Properties, Inc.                                 Call    January 2006       70         34                                   
                                                                                                         3,740          4,487      
---------------------------------------------------------------------------------------------------------------------------------  
---------------------------------------------------------------------------------------------------------------------------------  
Duke Realty Corp.                                       Call    December 2005      35         50                                   
                                                                                                           500          1,700      
---------------------------------------------------------------------------------------------------------------------------------  
---------------------------------------------------------------------------------------------------------------------------------  
Health Care Property Investors, Inc.                    Call    January 2006       30         50                                   
                                                                                                           750           950       
---------------------------------------------------------------------------------------------------------------------------------  
---------------------------------------------------------------------------------------------------------------------------------  
Home Properties, Inc.                                   Call    January 2006       45         50                                   
                                                                                                           250          3,450      
---------------------------------------------------------------------------------------------------------------------------------  
---------------------------------------------------------------------------------------------------------------------------------  
Regency Centers Corp.                                   Call    January 2006       60         30                                   
                                                                                                         5,250           660       
---------------------------------------------------------------------------------------------------------------------------------  
---------------------------------------------------------------------------------------------------------------------------------  
NET UNREALIZED DEPRECIATION ON WRITTEN OPTION CONTRACTS                                                                $11,247     
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------

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

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

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

G.  Securities Lending                                                          

To generate  additional income, the Funds may lend a certain percentage of their
total assets (33 1/3% for Dividend Capture, International Equity, Macro 100, Mid
Corp America, New Economy, Rotating Markets and Situs Small Cap, 5% for Michigan
Tax-Free,  and 20% for the  remaining  Funds) on a  short-term  basis 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 or U.S.  government  obligations  at
least equal to 100% of the value of the securities on loan for Dividend Capture,
International Equity, Macro 100, Mid Corp America, New Economy, Rotating Markets
and Situs  Small Cap and at least  equal to 102% of the value of  securities  on
loan for the remaining  Funds.  Information on the investment of cash collateral
is shown in the  Portfolio  of  Investments.  The Funds  receive  payments  from
borrowers  equivalent  to the dividends and interest that would have been earned
on securities  on loan. In addition,  the Funds retain a portion of the interest
received on investment of collateral.  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.  For the quarter ended
September 30, 2005,  Boston Global Advisers ("BGA") served as sub-custodian  for
the  securities  lending  program.  BGA received a sub-custody  fee based on the
value of  collateral  received  from  borrowers.  In  addition,  The  Huntington
National  Bank,  ("Huntington"),  as  custodian  of  each  of the  Funds  except
International  Equity,  received  a  monthly  fee  from  BGA to  offset  certain
transaction  costs  incurred by the  custodian.  As of September  30, 2005,  the
following Funds had securities with the following market values on loan:        

-----------------------------------------------------------------------         
    Fund                  Market Value   Market Value of
                         of Loaned       Collateral*
        Securities
-----------------------------------------------------------------------         
-----------------------------------------------------------------------         
Dividend Capture                      $ 1,922,329      $ 1,970,194              
-----------------------------------------------------------------------         
-----------------------------------------------------------------------         
Income Equity                          2,818,039        2,885,304               
-----------------------------------------------------------------------         
-----------------------------------------------------------------------         
Mid Corp America                       3,632,427        3,711,215               
-----------------------------------------------------------------------         
-----------------------------------------------------------------------         
New Economy                             337,652          345,238                
-----------------------------------------------------------------------         
-----------------------------------------------------------------------         
Situs Small Cap                        2,799,492        2,863,738               
-----------------------------------------------------------------------         
-----------------------------------------------------------------------         

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

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

-----------------------------------------------------------------------         
-----------------------------------------------------------------------         
* Includes securities and cash                                                  
collateral                                                                      
-----------------------------------------------------------------------         

H. 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.                                                                      

I.  Security Transactions and Related Income                                    

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

Item 2. Controls and Procedures.                                                
(a)   The   registrant's    principal    executive   officer   and   principal  
financial   officer   have   concluded   that  the   registrant's   disclosure  
controls  and  procedures  (as  defined  in Rule  30a-3(c)  under the Act) are  
effective  in  design  and   operation   and  are   sufficient   to  form  the  
basis  of  the   certifications   required   by  Rule  30a-2  under  the  Act,  

based  on  their  evaluation  of  these  disclosure  controls  and  procedures  
within 90 days of the filing date of this report on Form N-Q.                   

(b) There were no changes in the registrant's  internal control over financial  
reporting  (as defined in Rule 30a-3(d)  under the Act) that  occurred  during  
the  registrant's  last fiscal quarter that have materially  affected,  or are  
reasonably  likely to materially  affect,  the  registrant's  internal control  
over financial reporting.                                                       

Item 3. Exhibits.                                                               
Certifications pursuant to Rule 30a-2(a) are attached hereto.                   

SIGNATURES                                                                      

    Pursuant to the requirements of the Securities  Exchange Act of 1934 and
the  Investment  Company  Act of 1940,  the  registrant  has duly  caused this  
report  to be  signed  on  its  behalf  by  the  undersigned,  thereunto  duly  
authorized.                                                                     

(Registrant) The Huntington Funds                                               

By (Signature and Title)/s/Charles L. Davis, Jr.                                
                       Charles  L.  Davis,   Jr.,  Chief   Executive   Officer
and Principal Executive Officer 

Date  November 28, 2005                                                         

    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, Jr.                                
                       Charles  L.  Davis,   Jr.,  Chief   Executive   Officer
and Principal Executive Officer 

Date  November 28, 2005                                                         

By (Signature and Title)/s/Christopher E. Sabato                                
                 Christopher  E. Sabato,  Treasurer and  Principal
Financial Officer               

Date  November 28, 2005

Dates Referenced Herein

This ‘N-Q’ Filing	Date	Other Filings

Filed on / Effective on:	11/29/05	None on these Dates
	11/28/05
For Period End:	9/30/05
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Huntington Funds – ‘N-Q’ for 9/30/05

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