diff --git a/packages/@glimmer/runtime/lib/environment.ts b/packages/@glimmer/runtime/lib/environment.ts
index bafbefe2f82..3e1bd701a11 100644
--- a/packages/@glimmer/runtime/lib/environment.ts
+++ b/packages/@glimmer/runtime/lib/environment.ts
@@ -25,12 +25,26 @@ import { isArgumentError } from './vm/arguments';
 
 export const TRANSACTION: TransactionSymbol = Symbol('TRANSACTION') as TransactionSymbol;
 
+// One transaction per render was measurable allocation churn (a fresh
+// TransactionImpl plus four arrays each time). Discard-on-exception
+// discipline: an instance is only repooled after a fully clean commit,
+// so any throw leaves the pool empty and the error path allocates
+// fresh -- exactly today's behavior.
+let pooledTransaction: TransactionImpl | null = null;
+
 class TransactionImpl implements Transaction {
   public scheduledInstallModifiers: ModifierInstance[] = [];
   public scheduledUpdateModifiers: ModifierInstance[] = [];
   public createdComponents: ComponentInstanceWithCreate[] = [];
   public updatedComponents: ComponentInstanceWithCreate[] = [];
 
+  reset(): void {
+    this.scheduledInstallModifiers.length = 0;
+    this.scheduledUpdateModifiers.length = 0;
+    this.createdComponents.length = 0;
+    this.updatedComponents.length = 0;
+  }
+
   didCreate(component: ComponentInstanceWithCreate) {
     this.createdComponents.push(component);
   }
@@ -146,7 +160,12 @@ export class EnvironmentImpl implements Environment {
 
     this.debugRenderTree?.begin();
 
-    this[TRANSACTION] = new TransactionImpl();
+    if (pooledTransaction !== null) {
+      this[TRANSACTION] = pooledTransaction;
+      pooledTransaction = null;
+    } else {
+      this[TRANSACTION] = new TransactionImpl();
+    }
   }
 
   private get transaction(): TransactionImpl {
@@ -181,6 +200,10 @@ export class EnvironmentImpl implements Environment {
     this.debugRenderTree?.commit();
 
     this.delegate.onTransactionCommit();
+
+    // clean completion: safe to reuse
+    transaction.reset();
+    pooledTransaction = transaction;
   }
 }
 
diff --git a/packages/@glimmer/runtime/lib/vm/render-result.ts b/packages/@glimmer/runtime/lib/vm/render-result.ts
index 32dbca888d0..10d6c2d7f09 100644
--- a/packages/@glimmer/runtime/lib/vm/render-result.ts
+++ b/packages/@glimmer/runtime/lib/vm/render-result.ts
@@ -10,7 +10,7 @@ import { unreachable } from '@glimmer/debug-util/lib/platform-utils';
 import { associateDestroyableChild, registerDestructor } from '@glimmer/destroyable';
 
 import { clear } from '../bounds';
-import { UpdatingVM } from './update';
+import { acquireUpdatingVM, releaseUpdatingVM } from './update';
 
 export default class RenderResultImpl implements RenderResult {
   constructor(
@@ -25,8 +25,10 @@ export default class RenderResultImpl implements RenderResult {
 
   rerender({ alwaysRevalidate = false } = { alwaysRevalidate: false }) {
     let { env, updating } = this;
-    let vm = new UpdatingVM(env, { alwaysRevalidate });
+    let vm = acquireUpdatingVM(env, alwaysRevalidate);
     vm.execute(updating, this);
+    // reached only on clean completion; a throw discards the instance
+    releaseUpdatingVM(vm);
   }
 
   parentElement(): SimpleElement {
diff --git a/packages/@glimmer/runtime/lib/vm/update.ts b/packages/@glimmer/runtime/lib/vm/update.ts
index 92981cc0531..25d640b12c5 100644
--- a/packages/@glimmer/runtime/lib/vm/update.ts
+++ b/packages/@glimmer/runtime/lib/vm/update.ts
@@ -31,6 +31,27 @@ import type { AppendingBlockList } from './element-builder';
 import { clear, move as moveBounds } from '../bounds';
 import { NewTreeBuilder } from './element-builder';
 
+// Same discard-on-exception discipline as the transaction pool: an
+// instance is repooled only after a clean execute, so error paths
+// allocate fresh and recovery behavior is unchanged.
+let pooledUpdatingVM: UpdatingVM | null = null;
+
+export function acquireUpdatingVM(env: Environment, alwaysRevalidate: boolean): UpdatingVM {
+  const vm = pooledUpdatingVM;
+
+  if (vm === null) {
+    return new UpdatingVM(env, { alwaysRevalidate });
+  }
+
+  pooledUpdatingVM = null;
+  vm.prepare(env, alwaysRevalidate);
+  return vm;
+}
+
+export function releaseUpdatingVM(vm: UpdatingVM): void {
+  pooledUpdatingVM = vm;
+}
+
 export class UpdatingVM implements IUpdatingVM {
   public env: Environment;
   public dom: GlimmerTreeChanges;
@@ -44,6 +65,19 @@ export class UpdatingVM implements IUpdatingVM {
     this.alwaysRevalidate = alwaysRevalidate;
   }
 
+  /**
+   * Re-arms a pooled instance. The frame stack is necessarily empty
+   * after a clean execute (execution runs until it is), so only the
+   * environment-derived fields need refreshing.
+   *
+   * @internal
+   */
+  prepare(env: Environment, alwaysRevalidate: boolean): void {
+    this.env = env;
+    this.dom = env.getDOM();
+    this.alwaysRevalidate = alwaysRevalidate;
+  }
+
   execute(opcodes: UpdatingOpcode[], handler: ExceptionHandler) {
     if (DEBUG) {
       let hasErrored = true;
diff --git a/packages/@glimmer/validator/lib/tracking.ts b/packages/@glimmer/validator/lib/tracking.ts
index d94ae456e6b..f75dd39b721 100644
--- a/packages/@glimmer/validator/lib/tracking.ts
+++ b/packages/@glimmer/validator/lib/tracking.ts
@@ -37,8 +37,21 @@ class Tracker {
       return combine(Array.from(this.tags));
     }
   }
+
+  reset(): void {
+    this.tags.clear();
+    this.last = null;
+  }
 }
 
+// Frames are strictly LIFO, so finished trackers can be reset and
+// reused instead of allocating a Tracker + Set per frame. Capped:
+// depth beyond the cap (error-path resets, pathological nesting) just
+// allocates, and instances abandoned by resetTracking() are simply
+// never repooled.
+const TRACKER_POOL: Tracker[] = [];
+const TRACKER_POOL_MAX = 32;
+
 /**
  * Whenever a tracked computed property is entered, the current tracker is
  * saved off and a new tracker is replaced.
@@ -59,7 +72,7 @@ const OPEN_TRACK_FRAMES: (Tracker | null)[] = [];
 export function beginTrackFrame(debuggingContext?: string | false): void {
   OPEN_TRACK_FRAMES.push(CURRENT_TRACKER);
 
-  CURRENT_TRACKER = new Tracker();
+  CURRENT_TRACKER = TRACKER_POOL.pop() ?? new Tracker();
 
   if (DEBUG) {
     unwrap(debug.beginTrackingTransaction)(debuggingContext);
@@ -79,7 +92,15 @@ export function endTrackFrame(): Tag {
 
   CURRENT_TRACKER = OPEN_TRACK_FRAMES.pop() || null;
 
-  return unwrap(current).combine();
+  const tracker = unwrap(current);
+  const tag = tracker.combine();
+
+  if (TRACKER_POOL.length < TRACKER_POOL_MAX) {
+    tracker.reset();
+    TRACKER_POOL.push(tracker);
+  }
+
+  return tag;
 }
 
 export function beginUntrackFrame(): void {