diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 534c8ff8b4..127ac87b53 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-  ".": "3.1.3"
+  ".": "4.0.0"
 }
\ No newline at end of file
diff --git a/CHANGELOG.md b/CHANGELOG.md
index e5bd14610e..c98725318d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,37 @@
 
 All notable changes to this project will be documented in this file. See [standard-version](https://github.com/conventional-changelog/standard-version) for commit guidelines.
 
+## [4.0.0](https://github.com/microsoftgraph/microsoft-graph-toolkit/compare/v3.1.3...v4.0.0) (2023-11-30)
+
+
+### ⚠ BREAKING CHANGES
+
+* Developers must explicitly call the register function for all components used in their application. Importing from the root of @microsoft/mgt-components no longer has an automatic registration side effect
+* MgtPersonCard no longer has a static config property.This config has been moved to the MgtPersonCardConfig class to allow developers to import the config and associated getMgtPersonCardScopes function at the top level of their applicaiton without automatically adding the weight of the full mgt-person-card component and dependencies to the entry file for their applications.
+* default behavior of mgt-people-picker changes so presence is not shown unless show-presence attribute or showPresence property are set
+* applications importing from `@microsoft/mgt-react` will not have any components automatically registered in the browser. This leads to a breaking change when these applications emit raw web component markup rather than using the wrapper components
+
+### Features
+
+* add show-presence to mgt-people-picker ([#2812](https://github.com/microsoftgraph/microsoft-graph-toolkit/issues/2812)) ([f5bf7cc](https://github.com/microsoftgraph/microsoft-graph-toolkit/commit/f5bf7cc86467de270b059e340c0cf0f4d29af8e4))
+* enable live code inclusion for consuming applications ([#2642](https://github.com/microsoftgraph/microsoft-graph-toolkit/issues/2642)) ([c41d719](https://github.com/microsoftgraph/microsoft-graph-toolkit/commit/c41d7190f771513583deac46e5c57fdf17575d81))
+* enable user sign-in for storybook ([#2851](https://github.com/microsoftgraph/microsoft-graph-toolkit/issues/2851)) ([335c2f3](https://github.com/microsoftgraph/microsoft-graph-toolkit/commit/335c2f364768ee7b234bf6da395ad34fd01a8974))
+* require explicit component registration ([#2848](https://github.com/microsoftgraph/microsoft-graph-toolkit/issues/2848)) ([b7db262](https://github.com/microsoftgraph/microsoft-graph-toolkit/commit/b7db262a77389717c449ef8d4c12343860dd9cb6))
+* split config and permission methods out of mgt-person-card ([#2840](https://github.com/microsoftgraph/microsoft-graph-toolkit/issues/2840)) ([8177699](https://github.com/microsoftgraph/microsoft-graph-toolkit/commit/8177699b48081cb330a1cf27683ff99bfb4fa096))
+
+
+### Bug Fixes
+
+* add method to clear selected channel in mgt-teams-channel-picker ([#2865](https://github.com/microsoftgraph/microsoft-graph-toolkit/issues/2865)) ([c3a3d82](https://github.com/microsoftgraph/microsoft-graph-toolkit/commit/c3a3d821b5ef85cde1926ac6fe268217547fd6c4))
+* correct filter concatenation in mgt-people-picker ([#2822](https://github.com/microsoftgraph/microsoft-graph-toolkit/issues/2822)) ([18925a9](https://github.com/microsoftgraph/microsoft-graph-toolkit/commit/18925a9d80f07e0c27e1d3a715d8fc099bacbd2c))
+* enable the input control when selectedPeople is cleared via code. ([#2792](https://github.com/microsoftgraph/microsoft-graph-toolkit/issues/2792)) ([f54dc81](https://github.com/microsoftgraph/microsoft-graph-toolkit/commit/f54dc81fea4d371e133d297e170bfc800f567981))
+* ensure people-filters are added with and clause for people-picker ([#2826](https://github.com/microsoftgraph/microsoft-graph-toolkit/issues/2826)) ([0d671e6](https://github.com/microsoftgraph/microsoft-graph-toolkit/commit/0d671e6da32473c860daf9ff23a7ddfc43ae72e0))
+* flyout vertical positioning ([#2771](https://github.com/microsoftgraph/microsoft-graph-toolkit/issues/2771)) ([45163ed](https://github.com/microsoftgraph/microsoft-graph-toolkit/commit/45163ed2dfe6260a220cd9cb7a6531958abc18fe))
+* presence fallback logic ([#2849](https://github.com/microsoftgraph/microsoft-graph-toolkit/issues/2849)) ([1ab1970](https://github.com/microsoftgraph/microsoft-graph-toolkit/commit/1ab19706f3d7e5a31c81ab9bbead8f6c90e82373))
+* presence icons for dark forced colors ([#2817](https://github.com/microsoftgraph/microsoft-graph-toolkit/issues/2817)) ([00b168b](https://github.com/microsoftgraph/microsoft-graph-toolkit/commit/00b168bfe5fee257b2dee0056e1c4758630cb95a))
+* register components for use in stories ([335c2f3](https://github.com/microsoftgraph/microsoft-graph-toolkit/commit/335c2f364768ee7b234bf6da395ad34fd01a8974))
+* stop keydown from bubbling beyond people-picker ([#2892](https://github.com/microsoftgraph/microsoft-graph-toolkit/issues/2892)) ([ad4cfa3](https://github.com/microsoftgraph/microsoft-graph-toolkit/commit/ad4cfa38187b2c9f3b4f467267e507ecea273eed))
+
 ## [3.1.3](https://github.com/microsoftgraph/microsoft-graph-toolkit/compare/v3.1.2...v3.1.3) (2023-10-06)
 
 
diff --git a/package.json b/package.json
index 627b9b96e1..9f95f0813b 100644
--- a/package.json
+++ b/package.json
@@ -1,7 +1,7 @@
 {
   "name": "root",
   "private": true,
-  "version": "3.1.3",
+  "version": "4.0.0",
   "workspaces": {
     "packages": [
       "packages/*",