13F-HR 1 v101880_13fhr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2007 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Sweetwater Asset Management LLC Address: 375 Southpointe Bloulevard, Suite 210 Canonsburg, Pennsylvania 15317 Form 13F File Number: The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: W. Cifford McNary, Jr. Title: Chief Compliance Officer Phone: 724-745-7815 Signature, Place, and Date of Signing: /s/ W. Cifford McNary, Jr. Canonsburg, Pennsylvania February 4, 2008 -------------------------- ------------------------ ---------------- [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section.] Form 13F File Number Name 28-______________ _______________________________ [Repeat as necessary. Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 10 Form 13F Information Table Value Total: $ 3,524.43 ----------- (thousands) List of Other Included Managers: Provide a numbered list of the names(s) and Form 13F file numbers(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] No. Form 13F File Number Name ______ 28-______________________ ______________________________ [Repeat as necessary.]

Cusip Value Sh/Prn SH PUT Invstmt Other Name Of Issuer Title of Class Number (x1000) Amount PRN CALL Dscretn Managers Sole Shared Other ------------------------------- -------------- --------- ------- ------ ---- ---- ------- -------- -------- ------ ----- ~~ALLIANT~~Proshares ~~TECHSYSTEMS~~Trust ~~INC~~Index ~~COMMON~~Equity ~~STOCKS~~74347R305 ~~018804104 237~~511.0702 ~~2169~~6000 SH Sole 0 ~~2169~~6000 0 0 ~~ANHEUSER~~Ishares ~~BUSCH~~Trust ~~COMPANIES~~MSCI ~~INC~~Emerging ~~COMMON~~Index ~~STOCKS~~Equity ~~035229103~~464287234 ~~451~~330.9766 ~~9041~~2200 SH Sole 0 ~~9041.25~~2200 0 0 ~~Bank~~Ishares OfTrust ~~America~~Index ~~Corp~~Equity ~~COMMON~~464287465 ~~STOCKS 060505104 204~~642.3628 ~~4065~~8182 SH Sole 0 ~~4065.16~~8182 0 0 ~~BERKSHIRE~~Ishares ~~HATHAWAY~~Inc ~~INC~~MSCI ~~DEL~~Japan CLIndex BIndex ~~COMMON~~Equity ~~STOCKS~~464286848 ~~084670207 509~~314.8130 ~~129~~23650 SH Sole 0 ~~129~~23650 0 0 ~~CARDINAL~~Oil ~~HEALTH~~Service ~~INC~~Holders ~~COMMON~~Trust ~~STOCKS~~Index ~~14149Y108~~Equity ~~362.51~~678002106 ~~5797 SH Sole 0 5797~~264.4262 01400 ~~0 CITIGROUP INC COMMON STOCKS 172967101 459.97 9856~~ SH Sole 0 ~~9855.73~~1400 0 0 ~~CONOCOPHILLIPS~~Powershares ~~COMMON~~ETF ~~STOCKS~~Trust ~~20825C104~~Index ~~386.92~~Equity ~~4408~~73935X500 ~~SH Sole 0 4408~~260.3728 09400 ~~0 Exxon Mobil Corporation COMMON STOCKS 30231G102 257.04 2777~~ SH Sole 0 ~~2777~~9400 0 0 ~~GENERAL~~Powershares ~~ELECTRIC~~Global COWater ~~COMMON~~Index ~~STOCKS~~Equity ~~369604103~~73935X575 ~~524~~410.5988 ~~12671~~19200 SH Sole 0 ~~12671.23~~19200 0 0 ~~HUNTINGTON~~Pharmaceutical ~~BANCSHARES~~Holders ~~INC~~Trust ~~COMMON~~Index ~~STOCKS~~Equity ~~446150104~~71712A206 ~~319~~356.6335 ~~18824~~4500 SH Sole 0 ~~18824~~4500 0 0 ~~ISHARES~~Energy TRSector ~~S&P~~SPDR ~~500~~Trust ~~Barra~~ Index Equity ~~464287309~~81369Y506 ~~454~~222.1418 ~~6382~~2800 SH Sole 0 ~~6382~~2800 0 0 ~~ISHARES~~Health TRCare ~~S&P~~Sector ~~100~~SPDR ~~Indes~~Trust Index Equity ~~464287101~~81369Y209 ~~299~~211.9986 ~~4194~~6000 SH Sole 0 ~~4194~~6000 0 0 JOHNSON & JOHNSON COMMON STOCKS 478160104 479.15 7293 SH Sole 0 7293.08 0 0 KEYCORP NEW COMMON STOCKS 493267108 320.51 9913 SH Sole 0 9913.72 0 0 PARK NATL CORP COMMON STOCKS 700658107 341.99 3922 SH Sole 0 3922 0 0 PLAYBOY ENTERPRISES INC-CL B COMMON STOCKS 728117300 120.61 11230 SH Sole 0 11230 0 0 PROCTER & GAMBLE CO COMMON STOCKS 742718109 661.39 9402 SH Sole 0 9402.8 0 0

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