The Dragons resumed duties as the SLF squadron aboard in May 1969. They conducted amphibious raids in support of Operations Bold Pursuit (June 27 – July 6), Mighty Play (July 10 – July 20), and finally Defiant Stand (September 7 – September 18). After three years in Vietnam, the squadron was relocated to Marine Corps Air Station Santa Ana, California on October 10, 1969 leaving their helicopters with other in-country squadrons. A total of twenty-seven HMM-265 Marines perished in the war. HMM-265 was rebuilt using a few squadron personnel returned from Vietnam and the Marines of HMMT-301. The CH-46A helicopters left behind in Vietnam were replaced by the CH-46 Super D from overhaul. The squadron was deactivated on November 13, 1970.