HORTON D R INC /DE/
SC 13G/A, 1997-02-13
OPERATIVE BUILDERS
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                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C.



                                 SCHEDULE 13G

                   Under the Securities Exchange Act of 1934

                         (Amendment No.  4  )

                               D.R. Horton, Inc.
- --------------------------------------------------------------------------------
                               (Name of Issuer)

                         Common Stock, $.01 par value
- --------------------------------------------------------------------------------
                        (Title of Class of Securities)

                                  23331A 10 9
                      ----------------------------------
                                (CUSIP Number)

Check the following box if a fee is being paid with this statement [_]. (A fee 
is not required only if the filing person: (1) has a previous statement on file 
reporting beneficial ownership of more than five percent of the class of 
securities described in Item 1; and (2) has filed no amendment subsequent 
thereto reporting beneficial ownership of five percent or less of such class.) 
(See Rule 13d-7).

*The remainder of this cover page shall be filled out for a reporting person's 
initial filing on this form with respect to the subject class securities, and 
for any subsequent amendment containing information which would alter the 
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose 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 this Act (however, see the 
Notes).
<PAGE>
 

- -----------------------                                  ---------------------
 CUSIP NO. 23331A 10 9                   13G                PAGE 2 OF 5 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON                            Donald R. Horton
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON     ###-##-####
                                                          

- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [_]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4    
        United States of America


- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5     
     NUMBER OF            6,523,771
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6    
                            239,289
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7     
    REPORTING             6,523,771
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8    
                            239,289
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9    
        6,763,060

- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10                  
 
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11    
           20.9%

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12
          IN

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

                     *SEE INSTRUCTION BEFORE FILLING OUT!


            

<PAGE>
 
Item 1.

(a)  Name of Issuer:  D. R. Horton, Inc.

(b)  Address of Issuer's Principal Executive Offices:

     1901 Ascension Blvd., Suite 100
     Arlington, Texas  76006

Item 2.

(a)  Name of Person Filing:  Donald R. Horton

(b)  Address of Principal Business Office or, if none,
     Residence:

     1901 Ascension Blvd., 
     Suite 100
     Arlington, Texas  76006

(c)  Citizenship:  United States of America

(d)  Title of Class of Securities:  Common Stock

(e)  CUSIP Number:  23331A 10 9

Item 3.
     Not Applicable 

Item 4.  Ownership.

At December 31, 1996:

(a)  Amount Beneficially Owned: 6,763,060

(b)  Percent of Class:  20.9%

(c)  Number of shares as to which such person has:

       (i) Sole power to vote or to direct the vote:  6,523,771

      (ii) Shared power to vote or to direct the vote: 239,289


                               Page 3 of 5 Pages
<PAGE>
     (iii) Sole power to dispose or to direct the disposition of:  
           6,523,771

      (iv) Shared power to dispose or to direct the disposition of:
           239,289

     The undersigned disclaims beneficial ownership of 239,290 of the shares set
forth above which are owned by Douglas Reagan Horton, his son, and this report 
shall not be deemed an admission that the undersigned is the beneficial owner of
such securities for purposes of Section 13(d) or for any other purpose.

Item 5. Ownership of Five Percent or Less of a Class. 
        
     Not Applicable
        
Item 6. Ownership of More than Five Percent on Behalf of Another Person. 
        
     Not Applicable
        
Item 7. Identification and Classification of the Subsidiary       
        Which Acquired the Security Being Reported on By the
        Parent Holding Company.                  
                                                                         
     Not Applicable 
        
Item 8. Identification and Classification of Members of the
        Group.
        
     Not Applicable 
        
Item 9. Notice of Dissolution of Group.
        
     Not Applicable
        
Item 10.Certification.
        
     Not Applicable

                               Page 4 of 5 Pages    
<PAGE>
 
                                   SIGNATURE

        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.


                                                February 10, 1997
                                            -------------------------
                                                      Date



                                               /s/ Donald R. Horton
                                            -------------------------
                                                    Signature


                                                
                                                Donald R. Horton
                                            -------------------------
                                                      Name

                               Page 5 of 5 Pages


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