diff --git a/CHANGELOG.md b/CHANGELOG.md
index ec9fed27fd..c5fccddcb5 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,9 @@
 # Svelte changelog
 
+## 3.16.5
+
+* Better fix for cascading invalidations and fix some regressions ([#4098](https://github.com/sveltejs/svelte/issues/4098), [#4114](https://github.com/sveltejs/svelte/issues/4114), [#4120](https://github.com/sveltejs/svelte/issues/4120))
+
 ## 3.16.4
 
 * Fix slots with props not propagating through to inner slots ([#4061](https://github.com/sveltejs/svelte/issues/4061))
diff --git a/package-lock.json b/package-lock.json
index dd25b33eaa..f3eb858358 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -1,6 +1,6 @@
 {
   "name": "svelte",
-  "version": "3.16.4",
+  "version": "3.16.5",
   "lockfileVersion": 1,
   "requires": true,
   "dependencies": {
diff --git a/package.json b/package.json
index 3159357329..36eaf2e323 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "svelte",
-  "version": "3.16.4",
+  "version": "3.16.5",
   "description": "Cybernetically enhanced web apps",
   "module": "index.mjs",
   "main": "index",