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

000 B000000 12/31/2008
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 90013
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 BNY MELLON
012 B000001 84-0000000
012 C010001 PITTSBURGH
012 C020001 PA
012 C030001 15252
013 A000001 ERNST & YOUNG LLP
013 B010001 CHICAGO
013 B020001 IL
013 B030001 60606
015 A000001 THE BANK OF NEW YORK MELLON
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
015 A000003 PERSHING LLC
015 B000003 S
015 C010003 LOS ANGELES
015 C020003 CA
015 C030003 90017
015 E010003 X
018 000000 Y
019 A000000 N
019 B000000 0
020 A000001 MORGAN STANLEY
020 B000001 36-3145972
020 C000001 433
020 A000002 MERRILL LYNCH & CO., INC.
020 B000002 13-2740599
020 C000002 339
020 A000003 GOLDMAN SACHS & CO.
020 B000003 13-5108880
020 C000003 241
020 A000004 BANK OF AMERICA CORP.
020 B000004 56-0906609
020 C000004 86
020 A000005 CREDIT SUISSE FIRST BOSTON CORP.
020 B000005 05-0546650
020 C000005 67
020 A000006 INSTINET CORP.
020 B000006 13-3443395
020 C000006 58

020 A000007 WEEDEN & CO., LP
020 B000007 13-3364318
020 C000007 55
020 A000008 ITG PLATFORM
020 B000008 95-4339369
020 C000008 51
020 A000009 LEHMAN BROTHERS INC.
020 B000009 13-3216325
020 C000009 50
020 A000010 GS REDI PLUS
020 B000010 UNKNOWN
020 C000010 31
021 000000 1433
022 A000001 BANK OF NEW YORK MELLON
022 B000001 13-2614959
022 C000001 134964
022 D000001 133911
022 A000002 MORGAN STANLEY
022 B000002 36-3145972
022 C000002 61850
022 D000002 23655
022 A000003 UBS SECURITIES
022 B000003 13-3873456
022 C000003 998
022 D000003 0
022 C000004 0
022 D000004 0
022 C000005 0
022 D000005 0
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 197812
023 D000000 157565
024 000000 Y
025 A000001 AON CORP.
025 B000001 36-3051915
025 C000001 E
025 D000001 455
025 A000002 BANK OF AMERICA CORP.
025 B000002 56-0906609
025 C000002 E
025 D000002 1098
025 A000003 BANK OF NEW YORK MELLON CORP.

025 B000003 UNKNOWN
025 C000003 E
025 D000003 1795
025 A000004 CHARLES SCHWAB CORP.
025 B000004 94-3025021
025 C000004 E
025 D000004 1766
025 A000005 CHUBB CORP.
025 B000005 13-2595722
025 C000005 E
025 D000005 1796
025 A000006 FEDERATED INVESTORS, INC.
025 B000006 25-1111467
025 C000006 E
025 D000006 353
025 A000007 JANUS CAPITAL GROUP, INC.
025 B000007 43-1804048
025 C000007 E
025 D000007 775
025 A000008 JPMORGAN CHASE & CO.
025 B000008 13-2624428
025 C000008 E
025 D000008 1236
025 A000009 LOEWS CORP.
025 B000009 13-2646102
025 C000009 E
025 D000009 1415
025 A000010 MARSH & MCLENNAN COS., INC.
025 B000010 36-2668272
025 C000010 E
025 D000010 605
025 A000011 NORTHERN TRUST CORP.
025 B000011 36-2723087
025 C000011 E
025 D000011 1308
025 A000012 NYSE EURONEXT
025 B000012 20-5110848
025 C000012 E
025 D000012 1432
025 A000013 PNC FINANCIAL SERVICES GROUP, INC.
025 B000013 25-1435979
025 C000013 E
025 D000013 363
025 A000014 PROGRESSIVE CORP.
025 B000014 34-0963169
025 C000014 E
025 D000014 816
025 A000015 REGIONS FINANCIAL CORP.
025 B000015 63-0589368
025 C000015 E
025 D000015 546

025 A000016 T ROWE PRICE GROUP, INC.
025 B000016 52-2264646
025 C000016 E
025 D000016 1196
025 A000017 TORCHMARK CORP.
025 B000017 63-0780404
025 C000017 E
025 D000017 576
025 A000018 TRAVELERS COS., INC.
025 B000018 41-0518860
025 C000018 E
025 D000018 2245
025 A000019 US BANCORP.
025 B000019 41-0255900
025 C000019 E
025 D000019 1158
025 A000020 WELLS FARGO & CO.
025 B000020 41-0449260
025 C000020 E
025 D000020 3528
025 A000021 CIGNA CORP.
025 B000021 06-1059331
025 C000021 E
025 D000021 725
025 A000022 ALLSTATE CORP.
025 B000022 36-3871531
025 C000022 E
025 D000022 1342
025 A000023 CAPITAL ONE FINANCIAL CORP.
025 B000023 54-1719854
025 C000023 E
025 D000023 648
025 A000024 FIRST HORIZON NATIONAL CORP.
025 B000024 62-0803242
025 C000024 E
025 D000024 564
025 A000025 GOLDMAN SACHS GROUP, INC.
025 B000025 13-4019460
025 C000025 E
025 D000025 757
025 A000026 HARTFORD FINANCIAL SERVICES GROUP, INC.
025 B000026 13-3317783
025 C000026 E
025 D000026 756
025 A000027 KEYCORP
025 B000027 34-6542451
025 C000027 E
025 D000027 394
025 A000028 MARSHALL & IISLEY CORP.
025 B000028 39-0968604
025 C000028 E

025 D000028 606
025 A000029 MORGAN STANLEY
025 B000029 36-3145972
025 C000029 E
025 D000029 785
025 A000030 SLM CORP.
025 B000030 52-2013874
025 C000030 E
025 D000030 682
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
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042 A000000 0
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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
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062 H000000 0.0
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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 Y
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 733136
071 B000000 775263
071 C000000 328459
071 D000000 223
072 A000000 12
072 B000000 691
072 C000000 6435
072 D000000 0
072 E000000 0
072 F000000 2729
072 G000000 69
072 H000000 0

072 I000000 19
072 J000000 500
072 K000000 0
072 L000000 77
072 M000000 146
072 N000000 21
072 O000000 0
072 P000000 0
072 Q000000 94
072 R000000 52
072 S000000 89
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 2361
072 X000000 6157
072 Y000000 0
072 Z000000 969
072AA000000 0
072BB000000 54536
072CC010000 0
072CC020000 59431
072DD010000 30408
072DD020000 0
072EE000000 0
073 A010000 0.1400
073 A020000 0.0000
073 B000000 0.0000
073 C000000 1.4600
074 A000000 4873
074 B000000 0
074 C000000 23542
074 D000000 0
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074 G000000 0
074 H000000 0
074 I000000 3534
074 J000000 0
074 K000000 0
074 L000000 465
074 M000000 4
074 N000000 275131
074 O000000 0
074 P000000 164
074 Q000000 0
074 R010000 0
074 R020000 74231
074 R030000 3830
074 R040000 2240
074 S000000 0

074 T000000 194666
074 U010000 19005
074 U020000 0
074 V010000 10.24
074 V020000 0.00
074 W000000 0.0000
074 X000000 15807
074 Y000000 241565
075 A000000 0
075 B000000 272925
076 000000 7.98
077 A000000 Y
077 B000000 Y
077 C000000 Y
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 INSURANCE COMPANY
080 B000000 NONE
080 C000000 6875
081 A000000 Y
081 B000000 6
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
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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