diff --git a/CHANGELOG.md b/CHANGELOG.md
index b40b2cc10..3f9eecc3d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,13 @@
 
 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.
 
+## [0.4.0](https://github.com/rhobs/monitoring-stack-operator/commit/) (2024-08-29)
+
+
+### Features
+
+* update RBAC to include listing TempoMonolithic CRs ([#545](https://github.com/rhobs/monitoring-stack-operator/issues/545)) ([3aa199d](https://github.com/rhobs/monitoring-stack-operator/commit/3aa199d90d16143f02e96006b7ec0cf8688680f2))
+
 ### [0.3.5](https://github.com/rhobs/monitoring-stack-operator/commit/) (2024-08-07)
 
 
diff --git a/VERSION b/VERSION
index 09e915703..60a2d3e96 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-0.3.5
\ No newline at end of file
+0.4.0
\ No newline at end of file
diff --git a/bundle/manifests/observability-operator.clusterserviceversion.yaml b/bundle/manifests/observability-operator.clusterserviceversion.yaml
index 6068c6254..2b0ad89fc 100644
--- a/bundle/manifests/observability-operator.clusterserviceversion.yaml
+++ b/bundle/manifests/observability-operator.clusterserviceversion.yaml
@@ -41,8 +41,8 @@ metadata:
     capabilities: Basic Install
     categories: Monitoring
     certified: "false"
-    containerImage: observability-operator:0.3.5
-    createdAt: "2024-08-29T06:39:54Z"
+    containerImage: observability-operator:0.4.0
+    createdAt: "2024-08-29T09:10:03Z"
     description: A Go based Kubernetes operator to setup and manage highly available
       Monitoring Stack using Prometheus, Alertmanager and Thanos Querier.
     operators.operatorframework.io/builder: operator-sdk-v1.34.1
@@ -53,7 +53,7 @@ metadata:
       ]
     operators.operatorframework.io/project_layout: unknown
     repository: https://github.com/rhobs/observability-operator
-  name: observability-operator.v0.3.5
+  name: observability-operator.v0.4.0
   namespace: placeholder
 spec:
   apiservicedefinitions: {}
@@ -805,7 +805,7 @@ spec:
                   valueFrom:
                     fieldRef:
                       fieldPath: metadata.namespace
-                image: observability-operator:0.3.5
+                image: observability-operator:0.4.0
                 imagePullPolicy: Always
                 livenessProbe:
                   httpGet:
@@ -866,7 +866,7 @@ spec:
   maturity: alpha
   provider:
     name: Red Hat
-  version: 0.3.5
+  version: 0.4.0
   webhookdefinitions:
   - admissionReviewVersions:
     - v1
diff --git a/deploy/olm/kustomization.yaml b/deploy/olm/kustomization.yaml
index 5c77d1930..ba191b927 100644
--- a/deploy/olm/kustomization.yaml
+++ b/deploy/olm/kustomization.yaml
@@ -12,7 +12,7 @@ resources:
 images:
 - name: observability-operator
   newName: observability-operator
-  newTag: 0.3.5
+  newTag: 0.4.0
 
 patches:
 - patch: |-
diff --git a/deploy/package-operator/operator/kustomization.yaml b/deploy/package-operator/operator/kustomization.yaml
index 7c2204473..c761519dd 100644
--- a/deploy/package-operator/operator/kustomization.yaml
+++ b/deploy/package-operator/operator/kustomization.yaml
@@ -4,7 +4,7 @@ namespace: observability-operator
 images:
 - name: observability-operator
   newName: observability-operator
-  newTag: 0.3.5
+  newTag: 0.4.0
 commonAnnotations:
   package-operator.run/phase: operator
 resources: