diff --git a/build_files/build_environment/install_deps.sh b/build_files/build_environment/install_deps.sh
index ecb1cf87511..c4d6b284c48 100755
--- a/build_files/build_environment/install_deps.sh
+++ b/build_files/build_environment/install_deps.sh
@@ -344,7 +344,7 @@ OSL_FORCE_REBUILD=false
 OSL_SKIP=false
 
 # OpenSubdiv needs to be compiled for now
-OSD_VERSION="3.1.0"
+OSD_VERSION="3.1.1"
 OSD_VERSION_MIN=$OSD_VERSION
 OSD_FORCE_BUILD=false
 OSD_FORCE_REBUILD=false