DRAGANFLY INC. Schedule 13G/A shows Citadel-related entities and Kenneth Griffin reporting shared beneficial ownership of common shares. Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC each report 1,543,424 shares (4.2%). Citadel Securities LLC and related entities report 392,038 shares (1.1%). Mr. Griffin reports 1,935,462 shares (5.3%). The filing states 36,495,939 Shares outstanding as of March 24, 2026 (per Exhibit 99.1 to a Form 40-F). Reported holdings are shown with shared voting and dispositive power. The filing is signed by Seth Levy as authorized signatory and as attorney-in-fact for Mr. Griffin.
Positive
None.
Negative
None.
Insights
Citadel entities and Kenneth Griffin report modest minority stakes under shared control.
The filing lists specific share counts and percentages: 1,543,424 shares (4.2%) for several Citadel entities, 392,038 shares (1.1%) for Citadel Securities affiliates, and 1,935,462 shares (5.3%) for Kenneth Griffin. These figures are tied to a disclosed outstanding base of 36,495,939 shares as of March 24, 2026.
Ownership is reported as shared voting and dispositive power, not sole control. Subsequent filings would be needed to show changes in direction or additional acquisitions.
Filing highlights indirect/aggregated holdings and attribution structure.
The statement explains portfolio management relationships: Citadel Advisors manages funds holding the Shares, CAH and CGP are upstream entities, and Mr. Griffin controls CGP/CSGP. The filing disclaims that reporting does not necessarily mean beneficial ownership beyond securities actually owned by each reporting person.
Signatures include an attorney-in-fact reference to a prior power of attorney; governance implications depend on any future amendments or Form 13D/4 disclosures.
Shares outstanding36,495,939 sharesas of March 24, 2026
Citadel Advisors reported ownership1,543,424 shares4.2% of class
Citadel Securities reported ownership392,038 shares1.1% of class
Kenneth Griffin reported ownership1,935,462 shares5.3% of class
CUSIP26142Q304class identifier
Key Terms
beneficially own, shared dispositive power, power of attorney, Schedule 13G/A
4 terms
beneficially ownregulatory
"Each of Citadel Advisors LLC ... may be deemed to beneficially own 1,543,424 Shares."
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
shared dispositive powerregulatory
"Shared Dispositive Power 1,543,424.00"
power of attorneylegal
"Seth Levy is signing on behalf of Kenneth Griffin as attorney-in-fact pursuant to a power of attorney"
A power of attorney is a legal document that allows one person to make decisions and act on behalf of another person, often in financial or legal matters. It’s like giving someone a trusted helper or agent the authority to handle important tasks if you are unable to do so yourself. This matters to investors because it can impact how their assets are managed or transferred if they become unable to oversee their affairs.
Schedule 13G/Aregulatory
"(Amendment No. 1 ) DRAGANFLY INC. Common shares ..."
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
DRAGANFLY INC.
(Name of Issuer)
Common shares, no par value (the "Shares")
(Title of Class of Securities)
26142Q304
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
26142Q304
1
Names of Reporting Persons
Citadel Advisors LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,543,424.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,543,424.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,543,424.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.2 %
12
Type of Reporting Person (See Instructions)
IA, HC, OO
Comment for Type of Reporting Person: The percentages reported in this Schedule 13G are based upon 36,495,939 Shares outstanding as of March 24, 2026 (according to Exhibit 99.1 to the issuer's Form 40-F as filed with the Securities and Exchange Commission on March 24, 2026).
SCHEDULE 13G
CUSIP Number(s):
26142Q304
1
Names of Reporting Persons
Citadel Advisors Holdings LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,543,424.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,543,424.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,543,424.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.2 %
12
Type of Reporting Person (See Instructions)
HC, PN
SCHEDULE 13G
CUSIP Number(s):
26142Q304
1
Names of Reporting Persons
Citadel GP LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,543,424.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,543,424.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,543,424.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.2 %
12
Type of Reporting Person (See Instructions)
HC, OO
SCHEDULE 13G
CUSIP Number(s):
26142Q304
1
Names of Reporting Persons
Citadel Securities LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
392,038.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
392,038.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
392,038.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.1 %
12
Type of Reporting Person (See Instructions)
BD, OO
SCHEDULE 13G
CUSIP Number(s):
26142Q304
1
Names of Reporting Persons
Citadel Securities Group LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
392,038.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
392,038.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
392,038.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.1 %
12
Type of Reporting Person (See Instructions)
HC, PN
SCHEDULE 13G
CUSIP Number(s):
26142Q304
1
Names of Reporting Persons
Citadel Securities GP LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
392,038.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
392,038.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
392,038.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.1 %
12
Type of Reporting Person (See Instructions)
HC, OO
SCHEDULE 13G
CUSIP Number(s):
26142Q304
1
Names of Reporting Persons
Kenneth Griffin
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,935,462.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,935,462.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,935,462.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.3 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
DRAGANFLY INC.
(b)
Address of issuer's principal executive offices:
235 103rd St. E., Saskatoon, Saskatchewan, Canada, S7N 1Y8
Item 2.
(a)
Name of person filing:
This Schedule 13G is being jointly filed by Citadel Advisors LLC ("Citadel Advisors"), Citadel Advisors Holdings LP ("CAH"), Citadel GP LLC ("CGP"), Citadel Securities LLC ("Citadel Securities"), Citadel Securities Group LP ("CALC4"), Citadel Securities GP LLC ("CSGP") and Mr. Kenneth Griffin (collectively with Citadel Advisors, CAH, CGP, Citadel Securities, CALC4 and CSGP, the "Reporting Persons") with respect to the Shares of the above-named issuer owned by Citadel Multi-Strategy Equities (Ireland) Designated Activity Company, an Ireland company ("CMSI"), Citadel CEMF Investments Ltd., a Cayman Islands limited company ("CCIL"), and Citadel Securities. Such owned Shares may include other instruments exercisable for or convertible into Shares.
Citadel Advisors is the portfolio manager for CMSI and CCIL. CAH is the sole member of Citadel Advisors. CGP is the general partner of CAH. CALC4 is the non-member manager of Citadel Securities. CSGP is the general partner of CALC4. Mr. Griffin is the President and Chief Executive Officer of CGP, and owns a controlling interest in CGP and CSGP.
The filing of this statement shall not be construed as an admission that any of the Reporting Persons is the beneficial owner of any securities covered by the statement other than the securities actually owned by such person (if any).
(b)
Address or principal business office or, if none, residence:
The address of each of the Reporting Persons is 830 Brickell Plaza, Miami, Florida 33131.
(c)
Citizenship:
Each of Citadel Advisors, CGP, Citadel Securities and CSGP is organized as a limited liability company under the laws of the State of Delaware. Each of CALC4 and CAH is organized as a limited partnership under the laws of the State of Delaware. Mr. Griffin is a U.S. citizen.
(d)
Title of class of securities:
Common shares, no par value (the "Shares")
(e)
CUSIP No.:
26142Q304
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
1. Each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC may be deemed to beneficially own 1,543,424 Shares.
2. Citadel Securities LLC may be deemed to beneficially own 392,038 Shares.
3. Each of Citadel Securities Group LP and Citadel Securities GP LLC may be deemed to beneficially own 392,038 Shares.
4. Mr. Griffin may be deemed to beneficially own 1,935,462 Shares.
(b)
Percent of class:
1. The number of Shares that each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC may be deemed to beneficially own constitutes 4.2% of the Shares outstanding.
2. The number of Shares that Citadel Securities LLC may be deemed to beneficially own constitutes 1.1% of the Shares outstanding.
3. The number of Shares that each of Citadel Securities Group LP and Citadel Securities GP LLC may be deemed to beneficially own constitutes 1.1% of the Shares outstanding.
4. The number of Shares that Mr. Griffin may be deemed to beneficially own constitutes 5.3% of the Shares outstanding.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
1. Each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC: 0
2. Citadel Securities LLC: 0
3. Each of Citadel Securities Group LP and Citadel Securities GP LLC: 0
4. Mr. Griffin: 0
(ii) Shared power to vote or to direct the vote:
1. Each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC: 1,543,424
2. Citadel Securities LLC: 392,038
3. Each of Citadel Securities Group LP and Citadel Securities GP LLC: 392,038
4. Mr. Griffin: 1,935,462
(iii) Sole power to dispose or to direct the disposition of:
1. Each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC: 0
2. Citadel Securities LLC: 0
3. Each of Citadel Securities Group LP and Citadel Securities GP LLC: 0
4. Mr. Griffin: 0
(iv) Shared power to dispose or to direct the disposition of:
1. Each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC: 1,543,424
2. Citadel Securities LLC: 392,038
3. Each of Citadel Securities Group LP and Citadel Securities GP LLC: 392,038
4. Mr. Griffin: 1,935,462
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 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 or Control Person.
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.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
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.
Citadel Advisors LLC
Signature:
/s/ Seth Levy
Name/Title:
Seth Levy, Authorized Signatory
Date:
05/15/2026
Citadel Advisors Holdings LP
Signature:
/s/ Seth Levy
Name/Title:
Seth Levy, Authorized Signatory
Date:
05/15/2026
Citadel GP LLC
Signature:
/s/ Seth Levy
Name/Title:
Seth Levy, Authorized Signatory
Date:
05/15/2026
Citadel Securities LLC
Signature:
/s/ Seth Levy
Name/Title:
Seth Levy, Authorized Signatory
Date:
05/15/2026
Citadel Securities Group LP
Signature:
/s/ Seth Levy
Name/Title:
Seth Levy, Authorized Signatory
Date:
05/15/2026
Citadel Securities GP LLC
Signature:
/s/ Seth Levy
Name/Title:
Seth Levy, Authorized Signatory
Date:
05/15/2026
Kenneth Griffin
Signature:
/s/ Seth Levy
Name/Title:
Seth Levy, attorney-in-fact*
Date:
05/15/2026
Comments accompanying signature: * Seth Levy is signing on behalf of Kenneth Griffin as attorney-in-fact pursuant to a power of attorney previously filed with the Securities and Exchange Commission, and hereby incorporated by reference herein. The power of attorney was filed as an attachment to a filing by Citadel Advisors LLC on Schedule 13G for Allakos Inc. on October 13, 2023.
What stake does Citadel Advisors report in DRAGANFLY Inc. (DPRO)?
Citadel Advisors reports 1,543,424 shares representing 4.2% of outstanding common shares. The filing states shares outstanding were 36,495,939 as of March 24, 2026, and the reported position is shown with shared voting and dispositive power.
How many shares does Kenneth Griffin report owning in DPRO?
Kenneth Griffin is reported as beneficially owning 1,935,462 shares (5.3%) of common shares. The filing attributes this position through related entities and discloses shared voting and dispositive power rather than sole control.
What is the disclosed shares outstanding figure in this filing for DPRO?
The filing cites an outstanding share base of 36,495,939 Shares as of March 24, 2026, per Exhibit 99.1 to a Form 40-F. That figure is used to calculate the reported ownership percentages in this Schedule 13G/A.
Do the reporting persons claim sole voting or dispositive power over the reported shares?
No; the filing shows 0 sole voting and 0 sole dispositive power for the reporting persons and reports the positions with shared voting and shared dispositive power for the listed share amounts.
Who signed the Schedule 13G/A for these Citadel reporting persons?
The filing is signed by Seth Levy as authorized signatory for the Citadel entities and as attorney-in-fact for Kenneth Griffin, with signatures dated 05/15/2026 and a referenced prior power of attorney filed in 2023.
