MDC HOLDINGS INC
SC 13D/A, 2000-02-14
OPERATIVE BUILDERS
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                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549

                               SCHEDULE 13D

                Under the Securities Exchange Act of 1934
                             (Amendment No. 5)

                           M.D.C. HOLDINGS, INC.
                              (Name of Issuer)

                       Common Stock, $0.01 Per Share
                       (Title of Class of Securities)

                                 552676108
                              (CUSIP Number)

   David D. Mandarich, 3600 S. Yosemite St., Suite 900, Denver, CO 80237
                              (303) 773-1100
          (Name, Address and Telephone Number of Person Authorized
                  to Receive Notices and Communications)

                             February 4, 2000
           (Date of Event which Requires Filing of this Statement)

If the filing person has previously  filed a statement on Schedule 13G to report
the  acquisition  which is the subject of this  Schedule 13D, and is filing this
schedule because of Rule 13-d-1 (b)(3) or 4, check the following box [ ].

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purposes of Section 18 of the  Securities  Exchange Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).

                                   Page 1 of 4

<PAGE>
                                   SCHEDULE 13D
- -------------------                                           -----------------
CUSIP No. 552676108                                           Page 2 of 4 Pages
- -------------------                                           -----------------
===============================================================================
1   NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
     David D. Mandarich
     ###-##-####
- -------------------------------------------------------------------------------
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                    (a) [ ]
      Not Applicable                                                    (b) [ ]
- -------------------------------------------------------------------------------
3   SEC USE ONLY
- -------------------------------------------------------------------------------
4   SOURCE OF FUNDS
     00
- -------------------------------------------------------------------------------
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
     ITEMS
     2(d) or 2 (E)                                                          [ ]
     Not Applicable
- -------------------------------------------------------------------------------
6    CITIZENSHIP OR PLACE OF ORGANIZATION United States of America
- -------------------------------------------------------------------------------
7   NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
    SOLE VOTING POWER
     1,634,727
- -------------------------------------------------------------------------------
8   SHARED VOTING POWER
     0
- -------------------------------------------------------------------------------
9   SOLE DISPOSITIVE POWER
     1,634,727
- -------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
     0
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     1,634,727
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES []
     Not Applicable
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY THE AMOUNT IN ROW (11)
     5.7%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
      IN
- -------------------------------------------------------------------------------

<PAGE>
- -------------------                                           -----------------
CUSIP NO. 552676108                                           Page 3 of 4 Pages
- -------------------                                           -----------------

                                    AMENDMENT
                                      NO. 4
                                     TO THE
                                  SCHEDULE 13D

         The Reporting Person, David D. Mandarich hereby amends his Schedule 13D
relating to Common Stock, par value $0.01, of M.D.C. Holdings, Inc.

Item 5.                    Interest in Securities of the Issuer

                  (a)(b) As of the close of business  on  February 4, 2000,  the
Reporting  Person, by virtue of the language of Rule 13d-3, may be deemed to own
beneficially and to hold the sole power to vote and dispose of, in the aggregate
the number and percentage of the Issuer's  Common Stock set forth below opposite
his name (based upon the number of shares of the Issuer's Common Stock that were
reported to be outstanding in the Issuer's Form 10-K as of December 31, 1999).

===============================================================================
    Name                    Shares of Common Stock                 Percentage
- -------------------------------------------------------------------------------
David D. Mandarich (1)(2)         1,634,727                            5.7%
- -------------------------------------------------------------------------------

(1)    Includes  8,000  shares of Common Stock owned by the  Reporting  Person's
       minor  children  and 337  shares of Common  Stock  held in the  Reporting
       Person's 401(k) Plan account.

(2)     Includes  275,000  shares of Common Stock that the Reporting  Person has
        the right to acquire within 60 days of February 4, 2000.

                  (c) The  following  table sets forth the  transactions  by the
Reporting Person listed in Item 5(a) during the past sixty days.

===============================================================================
Trade                            Price Per
Date                             Share ($)                  David D. Mandarich
- -------------------------------------------------------------------------------
1/27/00                          ----------                       60,141(1)
- -------------------------------------------------------------------------------

(1)      Reflects the grant of 60,141 shares on January 20, 1999 in payment of a
portion of the Reporting Person's 1999 bonus compensation pursuant to the M.D.C.
Holdings, Inc. Executive Officer Performance-Based Compensation Plan.

<PAGE>
- -------------------                                           -----------------
CUSIP NO. 552676108                                           Page 4 of 4 Pages
- -------------------                                           -----------------

         After reasonable  inquiry and to the best of my knowledge and belief, I
certify that the information  set forth in this statement is true,  complete and
correct.

Dated: February 14, 2000
                --



By:  /s/ David D. Mandarich
     --------------------------
     David D. Mandarich
     President, Chief Operating
     Officer and Director


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