diff --git a/src/util/u_debug_refcnt.c b/src/util/u_debug_refcnt.c
index 06498eb6772..566fb9cc51c 100644
--- a/src/util/u_debug_refcnt.c
+++ b/src/util/u_debug_refcnt.c
@@ -174,10 +174,12 @@ debug_reference_slowpath(const struct pipe_reference *p,
          /* this is here to provide a gradual change even if we don't see
           * the initialization
           */
-         for (i = 1; i <= refcnt - change; ++i) {
-            fprintf(stream, "<%s> %p %u AddRef %u\n", buf, (void *) p,
-                    serial, i);
-            debug_backtrace_print(stream, frames, STACK_LEN);
+         if (refcnt <= 10) {
+            for (i = 1; i <= refcnt - change; ++i) {
+               fprintf(stream, "<%s> %p %u AddRef %u\n", buf, (void *) p,
+                  serial, i);
+               debug_backtrace_print(stream, frames, STACK_LEN);
+            }
          }
       }