diff --git a/CHANGELOG.md b/CHANGELOG.md
index bea2badc61..f170c6cb6c 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,9 @@
+## 165.3.1 (Nov 26, 2024)
+
+### Patch
+
+- BannerCallout: implement internal IconCompactButton for dismiss button (VR only) ([#3893](https://github.com/pinterest/gestalt/pull/3893)) - [Preview link](https://deploy-preview-3893--gestalt.netlify.app?devexample=true)
+
 ## 165.3.0 (Nov 25, 2024)
 
 ### Minor
diff --git a/packages/eslint-plugin-gestalt/package.json b/packages/eslint-plugin-gestalt/package.json
index bbdac7612f..19fdf84fd5 100644
--- a/packages/eslint-plugin-gestalt/package.json
+++ b/packages/eslint-plugin-gestalt/package.json
@@ -1,6 +1,6 @@
 {
   "name": "eslint-plugin-gestalt",
-  "version": "165.3.0",
+  "version": "165.3.1",
   "license": "Apache-2.0",
   "homepage": "https://gestalt.pinterest.systems/",
   "description": "ESLint rules for Pinterest's design language Gestalt",
diff --git a/packages/gestalt-charts/package.json b/packages/gestalt-charts/package.json
index 9c86492524..f65ba60f1e 100644
--- a/packages/gestalt-charts/package.json
+++ b/packages/gestalt-charts/package.json
@@ -1,6 +1,6 @@
 {
   "name": "gestalt-charts",
-  "version": "165.3.0",
+  "version": "165.3.1",
   "license": "Apache-2.0",
   "homepage": "https://gestalt.pinterest.systems/",
   "description": "A React UI chart component which enforces Pinterest's design language",
diff --git a/packages/gestalt-datepicker/package.json b/packages/gestalt-datepicker/package.json
index b6f29e4d7e..e882df3245 100644
--- a/packages/gestalt-datepicker/package.json
+++ b/packages/gestalt-datepicker/package.json
@@ -1,6 +1,6 @@
 {
   "name": "gestalt-datepicker",
-  "version": "165.3.0",
+  "version": "165.3.1",
   "license": "Apache-2.0",
   "homepage": "https://gestalt.pinterest.systems/",
   "description": "A React UI datepicker component which enforces Pinterest's design language",
diff --git a/packages/gestalt-design-tokens/package.json b/packages/gestalt-design-tokens/package.json
index 83b9d2a7f3..33978ed820 100644
--- a/packages/gestalt-design-tokens/package.json
+++ b/packages/gestalt-design-tokens/package.json
@@ -1,6 +1,6 @@
 {
   "name": "gestalt-design-tokens",
-  "version": "165.3.0",
+  "version": "165.3.1",
   "license": "Apache-2.0",
   "homepage": "https://gestalt.pinterest.systems/",
   "description": "Design tokens style dictionary for Gestalt",
diff --git a/packages/gestalt/package.json b/packages/gestalt/package.json
index ee0141bb14..46382c3388 100644
--- a/packages/gestalt/package.json
+++ b/packages/gestalt/package.json
@@ -1,6 +1,6 @@
 {
   "name": "gestalt",
-  "version": "165.3.0",
+  "version": "165.3.1",
   "license": "Apache-2.0",
   "homepage": "https://gestalt.pinterest.systems/",
   "description": "A set of React UI components which enforce Pinterest's design language",