OLA Old Mutual/Claymore Long-Short Fund Old Mutual/Claymore Long-Short Fund Common Shares of Beneficial Interest

000 B000000 12/31/2007
000 C000000 0001310709
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 OLD MUTUAL/CLAYMORE LONG-SHORT FUND
001 B000000 811-21681
001 C000000 6305053700
002 A000000 2455 CORPORATE WEST DRIVE
002 B000000 LISLE
002 C000000 IL
002 D010000 60532
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 CLAYMORE ADVISORS, LLC
008 B000001 A
008 C000001 801-000000
008 D010001 LISLE
008 D020001 IL
008 D030001 60532
008 A000002 ANALYTIC INVESTORS, LLC
008 B000002 S
008 C000002 801-000000
008 D010002 LOS ANGELES
008 D020002 CA
008 D030002 90071
010 A000001 CLAYMORE ADVISORS, LLC.
010 B000001 801-000000
010 C010001 LISLE
010 C020001 IL
010 C030001 60532
011 A000001 MERRILL LYNCH
011 B000001 8-00000000

011 C010001 NEW YORK
011 C020001 NY
011 C030001 10080
012 A000001 THE BANK OF NEW YORK
012 B000001 84-0000000
012 C010001 NEW YORK
012 C020001 NY
012 C030001 10286
013 A000001 ERNST & YOUNG LLP
013 B010001 CHICAGO
013 B020001 IL
013 B030001 60606
015 A000001 THE BANK OF NEW YORK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10286
015 E010001 X
015 A000002 MORGAN STANLEY
015 B000002 S
015 C010002 NEW YORK
015 C020002 NY
015 C030002 10036
015 E010002 X
018 000000 Y
019 A000000 N
019 B000000 0
020 A000001 MERRILL LYNCH & CO., INC.
020 B000001 13-2740599
020 C000001 312
020 A000002 BANK OF AMERICA CORP.
020 B000002 56-0906609
020 C000002 255
020 A000003 ITG PLATFORM
020 B000003 95-4339369
020 C000003 116
020 A000004 GOLDMAN SACHS & CO.
020 B000004 13-5108880
020 C000004 111
020 A000005 LEHMAN BROTHERS INC.
020 B000005 13-3216325
020 C000005 74
020 A000006 MORGAN STANELY
020 B000006 36-3145972
020 C000006 68
020 A000007 INSTITNET CORP.
020 B000007 13-3443395
020 C000007 24
020 A000008 NOMURA SECURITIES CO. LTD
020 B000008 13-2642206
020 C000008 6

020 A000009 I/JL
020 C000009 1
020 A000010 MESIROW FINANCIAL
020 B000010 36-3194849
020 C000010 0
021 000000 967
022 A000001 THE BANK OF NEW YORK CO., INC.
022 B000001 13-2614959
022 C000001 279301
022 D000001 16893
022 A000002 MORGAN STANLEY
022 B000002 36-3145972
022 C000002 74831
022 D000002 6941
022 A000003 GOLDMAN SACHS & CO.
022 B000003 13-5108880
022 C000003 6735
022 D000003 12879
022 A000004 ITG PLATFORM
022 B000004 95-4339369
022 C000004 3042
022 D000004 0
022 A000005 BANK OF AMERICA CORP.
022 B000005 56-0906609
022 C000005 0
022 D000005 333
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 363909
023 D000000 37046
024 000000 Y
025 A000001 JP MORGAN CHASE AND CO.
025 B000001 13-2624428
025 C000001 E
025 D000001 9374
025 A000002 LOEWS CORP.
025 B000002 13-2646102
025 C000002 E
025 D000002 6855
025 A000003 TRAVELERS CO., INC.
025 B000003 41-0518860
025 C000003 E
025 D000003 6242

025 A000004 CHARLES SCHWAB CORP.
025 B000004 94-3025021
025 C000004 E
025 D000004 5480
025 A000005 METLIFE, INC.
025 B000005 13-4075851
025 C000005 E
025 D000005 3978
025 A000006 ACE LTD.
025 C000006 E
025 D000006 3920
025 A000007 CIGNA CORP.
025 B000007 06-1059331
025 C000007 E
025 D000007 3599
025 A000008 NORTHERN TRUST CORP.
025 B000008 36-2723087
025 C000008 E
025 D000008 3381
025 A000009 AON CORP.
025 B000009 36-3051915
025 C000009 E
025 D000009 3193
025 A000010 CAPITAL ONE FINANCIAL CORP.
025 B000010 54-1719854
025 C000010 E
025 D000010 3047
025 A000011 FRANKLIN RESOURCES, INC.
025 B000011 13-2670991
025 C000011 E
025 D000011 2971
025 A000012 BANK OF NEW YORK MELLON CORP.
025 B000012 13-2614959
025 C000012 E
025 D000012 2035
025 A000013 AMERICAN EXPRESS CO.
025 B000013 13-4922250
025 C000013 E
025 D000013 2030
025 A000014 HARTFORD FINANCIAL SERVICES GROUP, INC.
025 B000014 13-3317783
025 C000014 E
025 D000014 1819
025 A000015 WESTERN UNION CO.
025 B000015 20-4531180
025 C000015 E
025 D000015 1506
025 A000016 WELLS FARGO & CO.
025 B000016 41-0449260
025 C000016 E
025 D000016 1279

025 A000017 ASSURANT, INC.
025 B000017 39-1126612
025 C000017 E
025 D000017 944
025 A000018 XL CAPITAL LTD. - CLASS A
025 B000018 98-0191089
025 C000018 E
025 D000018 632
025 A000019 DISCOVER FINANCIAL SERVICES
025 B000019 36-2517428
025 C000019 E
025 D000019 614
025 A000020 STATE STREET CORP.
025 B000020 04-2456637
025 C000020 E
025 D000020 548
025 A000021 JANUS CAPITAL GROUP, INC.
025 B000021 43-1804048
025 C000021 E
025 D000021 546
025 A000022 MORGAN STANLEY
025 B000022 36-3145972
025 C000022 E
025 D000022 546
025 A000023 AMERPRISE FINANCIAL, INC.
025 B000023 13-3180631
025 C000023 E
025 D000023 515
025 A000024 TORCHMARK CORP.
025 B000024 63-0780404
025 C000024 E
025 D000024 468
025 A000025 COUNTRYWIDE FINANCIAL CORP.
025 B000025 13-2641992
025 C000025 E
025 D000025 473
025 A000026 GENWORTH FINANCIAL, INC. - CLASS A
025 B000026 33-1073076
025 C000026 E
025 D000026 748
025 A000027 HUNTINGTION BANCSHARES, INC.
025 B000027 31-0724920
025 C000027 E
025 D000027 825
025 A000028 MBIA, INC.
025 B000028 06-1185706
025 C000028 E
025 D000028 1035
025 A000029 PROGRESSIVE CORP.
025 B000029 34-0963169
025 C000029 E

025 D000029 1948
025 A000030 BEAR STEARNS COS., INC.
025 B000030 13-3299429
025 C000030 E
025 D000030 3405
025 D000031 0
025 D000032 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 N
028 A010000 0
028 A020000 0
028 A030000 0
028 A040000 0
028 B010000 0
028 B020000 0
028 B030000 0
028 B040000 0
028 C010000 0
028 C020000 0
028 C030000 0
028 C040000 0
028 D010000 0
028 D020000 0
028 D030000 0
028 D040000 0
028 E010000 0
028 E020000 0
028 E030000 0
028 E040000 0
028 F010000 0
028 F020000 0
028 F030000 0
028 F040000 0
028 G010000 0
028 G020000 0
028 G030000 0
028 G040000 0
028 H000000 0
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0

032 000000 0
033 000000 0
035 000000 0
036 B000000 0
038 000000 0
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 0
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 1.000
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N

054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 Y
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 2000
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 N
066 E000000 Y
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y

070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 Y
070 E010000 N
070 E020000 N
070 F010000 Y
070 F020000 Y
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 Y
071 A000000 1391186
071 B000000 1435622
071 C000000 430067
071 D000000 323
072 A000000 12
072 B000000 1533
072 C000000 6576
072 D000000 0
072 E000000 0
072 F000000 3582
072 G000000 87
072 H000000 0
072 I000000 35
072 J000000 1162
072 K000000 0
072 L000000 99

072 M000000 130
072 N000000 21
072 O000000 0
072 P000000 0
072 Q000000 101
072 R000000 43
072 S000000 96
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 4708
072 X000000 10064
072 Y000000 0
072 Z000000 -1955
072AA000000 36921
072BB000000 0
072CC010000 0
072CC020000 25522
072DD010000 30408
072DD020000 0
072EE000000 0
073 A010000 1.6000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 8972
074 B000000 0
074 C000000 21941
074 D000000 0
074 E000000 0
074 F000000 409469
074 G000000 0
074 H000000 0
074 I000000 4117
074 J000000 0
074 K000000 0
074 L000000 394
074 M000000 8
074 N000000 444901
074 O000000 200
074 P000000 303
074 Q000000 0
074 R010000 0
074 R020000 93194
074 R030000 7484
074 R040000 5648
074 S000000 0
074 T000000 338072
074 U010000 19005
074 U020000 0
074 V010000 17.79

074 V020000 0.00
074 W000000 0.0000
074 X000000 16592
074 Y000000 281196
075 A000000 0
075 B000000 358138
076 000000 15.33
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL
080 B000000 NONE
080 C000000 3000
081 A000000 Y
081 B000000 3
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0

086 F020000 0
087 A010000 COMMON SHARES
087 A020000 68003N103
087 A030000 OLA
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 N
SIGNATURE STEVEN M. HILL
TITLE CFO & TREASURER