M.D.C. Holdings, Inc.

Operative Builders

NYSE.MDC

4350 S Monaco Street, Suite 500, Denver, CO, 80237

Amount	Security	Market Value
5,231	COM	$329,082
125,243	COM	$7,879,037
1,006	COM	$63,000
13,169	COM	$828,462
107	COM	$6,732
32,595	COM	$2,051
12,234	COM	$769,641
1,182,553	Equity	$74,394,409
112,690	COM	$7,089,328
94,481	COM	$5,943,854
621	Common Stock	$39,067
952	COM	$59,890
21,220	COM	$1,334,950
59,962	COM	$3,772,209
975	COM	$61,337
5,517	COM	$347,074
3,951	COM	$249
13,891	COM	$873,883
5,511	COM	$347
570,828	COM	$35,910,789
17,086	COM	$1,074,880
31,274	COM	$1,967,447
6,206	COM	$390
80,595	COM	$5,070,231
6,917	COM	$435,124
5,936	COM	$373,431
77,042	COM	$4,846,712
3,825	COM	$240,631
6,401	COM	$402,687
86,800	COM	$5,460,588
71,252	COM	$4,482,463
23,723	COM	$1,492
79,946	COM	$5,029,403
64,646	COM	$4,066,880
22,173	Stock	$1,394,903
24,419	Common Stock	$1,536
4,558	COMMON STOCK	$286,748
1,907	COM	$119,970
1,247	COM	$78,449
41,629	COM	$2,618,880
1,916,500	COM	$120,567,015
24,911	COM	$1,567,151
730,415	COM	$45,950,408
322,128	COM	$20,265
3,738	COM	$235,158
30,943	COM	$1,946,624
9,918	COM	$623,941
8,571	COM	$539,202
346,402	COMMON	$21,792,150
1,311,695	COM	$82,530,487

Amount	Security	Market Value
5,231	COM	$329,082
125,243	COM	$7,879,037
1,006	COM	$63,000
13,169	COM	$828,462
107	COM	$6,732
32,595	COM	$2,051
12,234	COM	$769,641
1,182,553	Equity	$74,394,409
112,690	COM	$7,089,328
94,481	COM	$5,943,854
621	Common Stock	$39,067
952	COM	$59,890
21,220	COM	$1,334,950
59,962	COM	$3,772,209
975	COM	$61,337
5,517	COM	$347,074
3,951	COM	$249
13,891	COM	$873,883
5,511	COM	$347
570,828	COM	$35,910,789
17,086	COM	$1,074,880
31,274	COM	$1,967,447
6,206	COM	$390
80,595	COM	$5,070,231
6,917	COM	$435,124
5,936	COM	$373,431
77,042	COM	$4,846,712
3,825	COM	$240,631
6,401	COM	$402,687
86,800	COM	$5,460,588
71,252	COM	$4,482,463
23,723	COM	$1,492
79,946	COM	$5,029,403
64,646	COM	$4,066,880
22,173	Stock	$1,394,903
24,419	Common Stock	$1,536
4,558	COMMON STOCK	$286,748
1,907	COM	$119,970
1,247	COM	$78,449
41,629	COM	$2,618,880
1,916,500	COM	$120,567,015
24,911	COM	$1,567,151
730,415	COM	$45,950,408
322,128	COM	$20,265
3,738	COM	$235,158
30,943	COM	$1,946,624
9,918	COM	$623,941
8,571	COM	$539,202
346,402	COMMON	$21,792,150
1,311,695	COM	$82,530,487

M.d.c. Holdings, Inc.