diff --git a/.api-reports/api-report-react.md b/.api-reports/api-report-react.md
index 16a48677e3e..99bf23e5739 100644
--- a/.api-reports/api-report-react.md
+++ b/.api-reports/api-report-react.md
@@ -807,6 +807,14 @@ interface FragmentMap {
 // @public (undocumented)
 type FragmentMatcher = (rootValue: any, typeCondition: string, context: any) => boolean;
 
+// @public (undocumented)
+interface FulfilledPromise<TValue> extends Promise<TValue> {
+    // (undocumented)
+    status: "fulfilled";
+    // (undocumented)
+    value: TValue;
+}
+
 // @public (undocumented)
 export function getApolloContext(): ReactTypes.Context<ApolloContextValue>;
 
@@ -858,7 +866,7 @@ class InternalQueryReference<TData = unknown> {
     // Warning: (ae-forgotten-export) The symbol "InternalQueryReferenceOptions" needs to be exported by the entry point index.d.ts
     constructor(observable: ObservableQuery<TData>, options: InternalQueryReferenceOptions);
     // (undocumented)
-    applyOptions(watchQueryOptions: ObservedOptions): Promise<ApolloQueryResult<TData>>;
+    applyOptions(watchQueryOptions: ObservedOptions): QueryRefPromise<TData>;
     // Warning: (ae-forgotten-export) The symbol "ObservedOptions" needs to be exported by the entry point index.d.ts
     //
     // (undocumented)
@@ -877,10 +885,10 @@ class InternalQueryReference<TData = unknown> {
     listen(listener: Listener<TData>): () => void;
     // (undocumented)
     readonly observable: ObservableQuery<TData>;
+    // Warning: (ae-forgotten-export) The symbol "QueryRefPromise" needs to be exported by the entry point index.d.ts
+    //
     // (undocumented)
-    promise: Promise<ApolloQueryResult<TData>>;
-    // (undocumented)
-    promiseCache?: Map<QueryKey, Promise<ApolloQueryResult<TData>>>;
+    promise: QueryRefPromise<TData>;
     // (undocumented)
     refetch(variables: OperationVariables | undefined): Promise<ApolloQueryResult<TData>>;
     // (undocumented)
@@ -966,7 +974,7 @@ export type LazyQueryResult<TData, TVariables extends OperationVariables> = Quer
 export type LazyQueryResultTuple<TData, TVariables extends OperationVariables> = [LazyQueryExecFunction<TData, TVariables>, QueryResult<TData, TVariables>];
 
 // @public (undocumented)
-type Listener<TData> = (promise: Promise<ApolloQueryResult<TData>>) => void;
+type Listener<TData> = (promise: QueryRefPromise<TData>) => void;
 
 // @public (undocumented)
 export type LoadableQueryHookFetchPolicy = Extract<WatchQueryFetchPolicy, "cache-first" | "network-only" | "no-cache" | "cache-and-network">;
@@ -1363,9 +1371,25 @@ export namespace parser {
 // @public (undocumented)
 type Path = ReadonlyArray<string | number>;
 
+// @public (undocumented)
+interface PendingPromise<TValue> extends Promise<TValue> {
+    // (undocumented)
+    status: "pending";
+}
+
 // @public (undocumented)
 type Primitive = null | undefined | string | number | boolean | symbol | bigint;
 
+// @public (undocumented)
+const PROMISE_SYMBOL: unique symbol;
+
+// Warning: (ae-forgotten-export) The symbol "PendingPromise" needs to be exported by the entry point index.d.ts
+// Warning: (ae-forgotten-export) The symbol "FulfilledPromise" needs to be exported by the entry point index.d.ts
+// Warning: (ae-forgotten-export) The symbol "RejectedPromise" needs to be exported by the entry point index.d.ts
+//
+// @public (undocumented)
+type PromiseWithState<TValue> = PendingPromise<TValue> | FulfilledPromise<TValue> | RejectedPromise<TValue>;
+
 // @public (undocumented)
 const QUERY_REFERENCE_SYMBOL: unique symbol;
 
@@ -1619,12 +1643,19 @@ interface QueryOptions<TVariables = OperationVariables, TData = any> {
 //
 // @public
 export interface QueryReference<TData = unknown> {
+    // (undocumented)
+    [PROMISE_SYMBOL]: QueryRefPromise<TData>;
     // Warning: (ae-forgotten-export) The symbol "InternalQueryReference" needs to be exported by the entry point index.d.ts
     //
     // (undocumented)
-    [QUERY_REFERENCE_SYMBOL]: InternalQueryReference<TData>;
+    readonly [QUERY_REFERENCE_SYMBOL]: InternalQueryReference<TData>;
 }
 
+// Warning: (ae-forgotten-export) The symbol "PromiseWithState" needs to be exported by the entry point index.d.ts
+//
+// @public (undocumented)
+type QueryRefPromise<TData> = PromiseWithState<ApolloQueryResult<TData>>;
+
 // @public (undocumented)
 export interface QueryResult<TData = any, TVariables extends OperationVariables = OperationVariables> extends ObservableQueryFields<TData, TVariables> {
     // (undocumented)
@@ -1738,6 +1769,14 @@ type RefetchQueryDescriptor = string | DocumentNode;
 // @public (undocumented)
 type RefetchWritePolicy = "merge" | "overwrite";
 
+// @public (undocumented)
+interface RejectedPromise<TValue> extends Promise<TValue> {
+    // (undocumented)
+    reason: unknown;
+    // (undocumented)
+    status: "rejected";
+}
+
 // @public (undocumented)
 class RenderPromises {
     // (undocumented)
@@ -2218,8 +2257,8 @@ interface WatchQueryOptions<TVariables extends OperationVariables = OperationVar
 // src/core/types.ts:174:3 - (ae-forgotten-export) The symbol "MutationQueryReducer" needs to be exported by the entry point index.d.ts
 // src/core/types.ts:201:5 - (ae-forgotten-export) The symbol "Resolver" needs to be exported by the entry point index.d.ts
 // src/core/watchQueryOptions.ts:253:2 - (ae-forgotten-export) The symbol "UpdateQueryFn" needs to be exported by the entry point index.d.ts
-// src/react/hooks/useBackgroundQuery.ts:26:3 - (ae-forgotten-export) The symbol "FetchMoreFunction" needs to be exported by the entry point index.d.ts
-// src/react/hooks/useBackgroundQuery.ts:27:3 - (ae-forgotten-export) The symbol "RefetchFunction" needs to be exported by the entry point index.d.ts
+// src/react/hooks/useBackgroundQuery.ts:30:3 - (ae-forgotten-export) The symbol "FetchMoreFunction" needs to be exported by the entry point index.d.ts
+// src/react/hooks/useBackgroundQuery.ts:31:3 - (ae-forgotten-export) The symbol "RefetchFunction" needs to be exported by the entry point index.d.ts
 // src/react/hooks/useLoadableQuery.ts:49:5 - (ae-forgotten-export) The symbol "ResetFunction" needs to be exported by the entry point index.d.ts
 
 // (No @packageDocumentation comment for this package)
diff --git a/.api-reports/api-report-react_hooks.md b/.api-reports/api-report-react_hooks.md
index dc190c121e5..0c3ca839457 100644
--- a/.api-reports/api-report-react_hooks.md
+++ b/.api-reports/api-report-react_hooks.md
@@ -767,6 +767,14 @@ interface FragmentMap {
 // @public (undocumented)
 type FragmentMatcher = (rootValue: any, typeCondition: string, context: any) => boolean;
 
+// @public (undocumented)
+interface FulfilledPromise<TValue> extends Promise<TValue> {
+    // (undocumented)
+    status: "fulfilled";
+    // (undocumented)
+    value: TValue;
+}
+
 // @public (undocumented)
 type GraphQLErrors = ReadonlyArray<GraphQLError>;
 
@@ -805,7 +813,7 @@ class InternalQueryReference<TData = unknown> {
     // Warning: (ae-forgotten-export) The symbol "InternalQueryReferenceOptions" needs to be exported by the entry point index.d.ts
     constructor(observable: ObservableQuery<TData>, options: InternalQueryReferenceOptions);
     // (undocumented)
-    applyOptions(watchQueryOptions: ObservedOptions): Promise<ApolloQueryResult<TData>>;
+    applyOptions(watchQueryOptions: ObservedOptions): QueryRefPromise<TData>;
     // Warning: (ae-forgotten-export) The symbol "ObservedOptions" needs to be exported by the entry point index.d.ts
     //
     // (undocumented)
@@ -824,10 +832,10 @@ class InternalQueryReference<TData = unknown> {
     listen(listener: Listener<TData>): () => void;
     // (undocumented)
     readonly observable: ObservableQuery<TData>;
+    // Warning: (ae-forgotten-export) The symbol "QueryRefPromise" needs to be exported by the entry point index.d.ts
+    //
     // (undocumented)
-    promise: Promise<ApolloQueryResult<TData>>;
-    // (undocumented)
-    promiseCache?: Map<QueryKey, Promise<ApolloQueryResult<TData>>>;
+    promise: QueryRefPromise<TData>;
     // (undocumented)
     refetch(variables: OperationVariables | undefined): Promise<ApolloQueryResult<TData>>;
     // (undocumented)
@@ -917,7 +925,7 @@ interface LazyQueryHookOptions<TData = any, TVariables extends OperationVariable
 type LazyQueryResultTuple<TData, TVariables extends OperationVariables> = [LazyQueryExecFunction<TData, TVariables>, QueryResult<TData, TVariables>];
 
 // @public (undocumented)
-type Listener<TData> = (promise: Promise<ApolloQueryResult<TData>>) => void;
+type Listener<TData> = (promise: QueryRefPromise<TData>) => void;
 
 // @public (undocumented)
 type LoadableQueryHookFetchPolicy = Extract<WatchQueryFetchPolicy, "cache-first" | "network-only" | "no-cache" | "cache-and-network">;
@@ -1301,9 +1309,25 @@ type OperationVariables = Record<string, any>;
 // @public (undocumented)
 type Path = ReadonlyArray<string | number>;
 
+// @public (undocumented)
+interface PendingPromise<TValue> extends Promise<TValue> {
+    // (undocumented)
+    status: "pending";
+}
+
 // @public (undocumented)
 type Primitive = null | undefined | string | number | boolean | symbol | bigint;
 
+// @public (undocumented)
+const PROMISE_SYMBOL: unique symbol;
+
+// Warning: (ae-forgotten-export) The symbol "PendingPromise" needs to be exported by the entry point index.d.ts
+// Warning: (ae-forgotten-export) The symbol "FulfilledPromise" needs to be exported by the entry point index.d.ts
+// Warning: (ae-forgotten-export) The symbol "RejectedPromise" needs to be exported by the entry point index.d.ts
+//
+// @public (undocumented)
+type PromiseWithState<TValue> = PendingPromise<TValue> | FulfilledPromise<TValue> | RejectedPromise<TValue>;
+
 // @public (undocumented)
 const QUERY_REFERENCE_SYMBOL: unique symbol;
 
@@ -1537,12 +1561,19 @@ interface QueryOptions<TVariables = OperationVariables, TData = any> {
 //
 // @public
 interface QueryReference<TData = unknown> {
+    // (undocumented)
+    [PROMISE_SYMBOL]: QueryRefPromise<TData>;
     // Warning: (ae-forgotten-export) The symbol "InternalQueryReference" needs to be exported by the entry point index.d.ts
     //
     // (undocumented)
-    [QUERY_REFERENCE_SYMBOL]: InternalQueryReference<TData>;
+    readonly [QUERY_REFERENCE_SYMBOL]: InternalQueryReference<TData>;
 }
 
+// Warning: (ae-forgotten-export) The symbol "PromiseWithState" needs to be exported by the entry point index.d.ts
+//
+// @public (undocumented)
+type QueryRefPromise<TData> = PromiseWithState<ApolloQueryResult<TData>>;
+
 // Warning: (ae-forgotten-export) The symbol "ObservableQueryFields" needs to be exported by the entry point index.d.ts
 //
 // @public (undocumented)
@@ -1652,6 +1683,14 @@ type RefetchQueryDescriptor = string | DocumentNode;
 // @public (undocumented)
 type RefetchWritePolicy = "merge" | "overwrite";
 
+// @public (undocumented)
+interface RejectedPromise<TValue> extends Promise<TValue> {
+    // (undocumented)
+    reason: unknown;
+    // (undocumented)
+    status: "rejected";
+}
+
 // @public (undocumented)
 type RequestHandler = (operation: Operation, forward: NextLink) => Observable<FetchResult> | null;
 
@@ -2109,8 +2148,8 @@ interface WatchQueryOptions<TVariables extends OperationVariables = OperationVar
 // src/core/types.ts:174:3 - (ae-forgotten-export) The symbol "MutationQueryReducer" needs to be exported by the entry point index.d.ts
 // src/core/types.ts:201:5 - (ae-forgotten-export) The symbol "Resolver" needs to be exported by the entry point index.d.ts
 // src/core/watchQueryOptions.ts:253:2 - (ae-forgotten-export) The symbol "UpdateQueryFn" needs to be exported by the entry point index.d.ts
-// src/react/hooks/useBackgroundQuery.ts:26:3 - (ae-forgotten-export) The symbol "FetchMoreFunction" needs to be exported by the entry point index.d.ts
-// src/react/hooks/useBackgroundQuery.ts:27:3 - (ae-forgotten-export) The symbol "RefetchFunction" needs to be exported by the entry point index.d.ts
+// src/react/hooks/useBackgroundQuery.ts:30:3 - (ae-forgotten-export) The symbol "FetchMoreFunction" needs to be exported by the entry point index.d.ts
+// src/react/hooks/useBackgroundQuery.ts:31:3 - (ae-forgotten-export) The symbol "RefetchFunction" needs to be exported by the entry point index.d.ts
 // src/react/hooks/useLoadableQuery.ts:49:5 - (ae-forgotten-export) The symbol "ResetFunction" needs to be exported by the entry point index.d.ts
 
 // (No @packageDocumentation comment for this package)
diff --git a/.api-reports/api-report-utilities.md b/.api-reports/api-report-utilities.md
index ac31c32b9d2..2c4231f2096 100644
--- a/.api-reports/api-report-utilities.md
+++ b/.api-reports/api-report-utilities.md
@@ -1290,8 +1290,6 @@ export function isQueryOperation(document: DocumentNode): boolean;
 // @public (undocumented)
 export function isReference(obj: any): obj is Reference;
 
-// Warning: (ae-forgotten-export) The symbol "PromiseWithState" needs to be exported by the entry point index.d.ts
-//
 // @public (undocumented)
 export function isStatefulPromise<TValue>(promise: Promise<TValue>): promise is PromiseWithState<TValue>;
 
@@ -1831,7 +1829,7 @@ export { print_2 as print }
 // Warning: (ae-forgotten-export) The symbol "PendingPromise" needs to be exported by the entry point index.d.ts
 //
 // @public (undocumented)
-type PromiseWithState<TValue> = PendingPromise<TValue> | FulfilledPromise<TValue> | RejectedPromise<TValue>;
+export type PromiseWithState<TValue> = PendingPromise<TValue> | FulfilledPromise<TValue> | RejectedPromise<TValue>;
 
 // @public (undocumented)
 class QueryInfo {
diff --git a/.api-reports/api-report.md b/.api-reports/api-report.md
index d6b96223bdf..dd96b473056 100644
--- a/.api-reports/api-report.md
+++ b/.api-reports/api-report.md
@@ -1025,6 +1025,14 @@ export function fromError<T>(errorValue: any): Observable<T>;
 // @public (undocumented)
 export function fromPromise<T>(promise: Promise<T>): Observable<T>;
 
+// @public (undocumented)
+interface FulfilledPromise<TValue> extends Promise<TValue> {
+    // (undocumented)
+    status: "fulfilled";
+    // (undocumented)
+    value: TValue;
+}
+
 // @public (undocumented)
 export function getApolloContext(): ReactTypes.Context<ApolloContextValue>;
 
@@ -1204,7 +1212,7 @@ class InternalQueryReference<TData = unknown> {
     // Warning: (ae-forgotten-export) The symbol "InternalQueryReferenceOptions" needs to be exported by the entry point index.d.ts
     constructor(observable: ObservableQuery<TData>, options: InternalQueryReferenceOptions);
     // (undocumented)
-    applyOptions(watchQueryOptions: ObservedOptions): Promise<ApolloQueryResult<TData>>;
+    applyOptions(watchQueryOptions: ObservedOptions): QueryRefPromise<TData>;
     // Warning: (ae-forgotten-export) The symbol "ObservedOptions" needs to be exported by the entry point index.d.ts
     //
     // (undocumented)
@@ -1223,10 +1231,10 @@ class InternalQueryReference<TData = unknown> {
     listen(listener: Listener<TData>): () => void;
     // (undocumented)
     readonly observable: ObservableQuery<TData>;
+    // Warning: (ae-forgotten-export) The symbol "QueryRefPromise" needs to be exported by the entry point index.d.ts
+    //
     // (undocumented)
-    promise: Promise<ApolloQueryResult<TData>>;
-    // (undocumented)
-    promiseCache?: Map<QueryKey, Promise<ApolloQueryResult<TData>>>;
+    promise: QueryRefPromise<TData>;
     // (undocumented)
     refetch(variables: OperationVariables | undefined): Promise<ApolloQueryResult<TData>>;
     // (undocumented)
@@ -1358,7 +1366,7 @@ export type LazyQueryResult<TData, TVariables extends OperationVariables> = Quer
 export type LazyQueryResultTuple<TData, TVariables extends OperationVariables> = [LazyQueryExecFunction<TData, TVariables>, QueryResult<TData, TVariables>];
 
 // @public (undocumented)
-type Listener<TData> = (promise: Promise<ApolloQueryResult<TData>>) => void;
+type Listener<TData> = (promise: QueryRefPromise<TData>) => void;
 
 // @public (undocumented)
 export type LoadableQueryHookFetchPolicy = Extract<WatchQueryFetchPolicy, "cache-first" | "network-only" | "no-cache" | "cache-and-network">;
@@ -1844,6 +1852,12 @@ export namespace parser {
 // @public (undocumented)
 export type Path = ReadonlyArray<string | number>;
 
+// @public (undocumented)
+interface PendingPromise<TValue> extends Promise<TValue> {
+    // (undocumented)
+    status: "pending";
+}
+
 // @public (undocumented)
 class Policies {
     constructor(config: {
@@ -1907,6 +1921,16 @@ interface Printer {
     (node: ASTNode, originalPrint: typeof print_2): string;
 }
 
+// @public (undocumented)
+const PROMISE_SYMBOL: unique symbol;
+
+// Warning: (ae-forgotten-export) The symbol "PendingPromise" needs to be exported by the entry point index.d.ts
+// Warning: (ae-forgotten-export) The symbol "FulfilledPromise" needs to be exported by the entry point index.d.ts
+// Warning: (ae-forgotten-export) The symbol "RejectedPromise" needs to be exported by the entry point index.d.ts
+//
+// @public (undocumented)
+type PromiseWithState<TValue> = PendingPromise<TValue> | FulfilledPromise<TValue> | RejectedPromise<TValue>;
+
 // @public (undocumented)
 const QUERY_REFERENCE_SYMBOL: unique symbol;
 
@@ -2153,12 +2177,19 @@ export { QueryOptions }
 //
 // @public
 export interface QueryReference<TData = unknown> {
+    // (undocumented)
+    [PROMISE_SYMBOL]: QueryRefPromise<TData>;
     // Warning: (ae-forgotten-export) The symbol "InternalQueryReference" needs to be exported by the entry point index.d.ts
     //
     // (undocumented)
-    [QUERY_REFERENCE_SYMBOL]: InternalQueryReference<TData>;
+    readonly [QUERY_REFERENCE_SYMBOL]: InternalQueryReference<TData>;
 }
 
+// Warning: (ae-forgotten-export) The symbol "PromiseWithState" needs to be exported by the entry point index.d.ts
+//
+// @public (undocumented)
+type QueryRefPromise<TData> = PromiseWithState<ApolloQueryResult<TData>>;
+
 // @public (undocumented)
 export interface QueryResult<TData = any, TVariables extends OperationVariables = OperationVariables> extends ObservableQueryFields<TData, TVariables> {
     // (undocumented)
@@ -2286,6 +2317,14 @@ export type RefetchQueryDescriptor = string | DocumentNode;
 // @public (undocumented)
 export type RefetchWritePolicy = "merge" | "overwrite";
 
+// @public (undocumented)
+interface RejectedPromise<TValue> extends Promise<TValue> {
+    // (undocumented)
+    reason: unknown;
+    // (undocumented)
+    status: "rejected";
+}
+
 // @public (undocumented)
 class RenderPromises {
     // (undocumented)
@@ -2862,8 +2901,8 @@ interface WriteContext extends ReadMergeModifyContext {
 // src/core/QueryManager.ts:395:7 - (ae-forgotten-export) The symbol "UpdateQueries" needs to be exported by the entry point index.d.ts
 // src/core/watchQueryOptions.ts:253:2 - (ae-forgotten-export) The symbol "UpdateQueryFn" needs to be exported by the entry point index.d.ts
 // src/link/http/selectHttpOptionsAndBody.ts:128:32 - (ae-forgotten-export) The symbol "HttpQueryOptions" needs to be exported by the entry point index.d.ts
-// src/react/hooks/useBackgroundQuery.ts:26:3 - (ae-forgotten-export) The symbol "FetchMoreFunction" needs to be exported by the entry point index.d.ts
-// src/react/hooks/useBackgroundQuery.ts:27:3 - (ae-forgotten-export) The symbol "RefetchFunction" needs to be exported by the entry point index.d.ts
+// src/react/hooks/useBackgroundQuery.ts:30:3 - (ae-forgotten-export) The symbol "FetchMoreFunction" needs to be exported by the entry point index.d.ts
+// src/react/hooks/useBackgroundQuery.ts:31:3 - (ae-forgotten-export) The symbol "RefetchFunction" needs to be exported by the entry point index.d.ts
 // src/react/hooks/useLoadableQuery.ts:49:5 - (ae-forgotten-export) The symbol "ResetFunction" needs to be exported by the entry point index.d.ts
 
 // (No @packageDocumentation comment for this package)
diff --git a/.size-limits.json b/.size-limits.json
index 6f8c966652b..c1d55c13153 100644
--- a/.size-limits.json
+++ b/.size-limits.json
@@ -1,4 +1,4 @@
 {
-  "dist/apollo-client.min.cjs": 38632,
-  "import { ApolloClient, InMemoryCache, HttpLink } from \"dist/index.js\" (production)": 32319
+  "dist/apollo-client.min.cjs": 38618,
+  "import { ApolloClient, InMemoryCache, HttpLink } from \"dist/index.js\" (production)": 32318
 }
diff --git a/src/react/cache/QueryReference.ts b/src/react/cache/QueryReference.ts
index 7da866b5309..97025c37335 100644
--- a/src/react/cache/QueryReference.ts
+++ b/src/react/cache/QueryReference.ts
@@ -7,28 +7,37 @@ import type {
   WatchQueryOptions,
 } from "../../core/index.js";
 import { isNetworkRequestSettled } from "../../core/index.js";
-import type { ObservableSubscription } from "../../utilities/index.js";
+import type {
+  ObservableSubscription,
+  PromiseWithState,
+} from "../../utilities/index.js";
 import {
   createFulfilledPromise,
   createRejectedPromise,
 } from "../../utilities/index.js";
 import type { QueryKey } from "./types.js";
 import type { useBackgroundQuery, useReadQuery } from "../hooks/index.js";
+import { wrapPromiseWithState } from "../../utilities/index.js";
 
-type Listener<TData> = (promise: Promise<ApolloQueryResult<TData>>) => void;
+type QueryRefPromise<TData> = PromiseWithState<ApolloQueryResult<TData>>;
+
+type Listener<TData> = (promise: QueryRefPromise<TData>) => void;
 
 type FetchMoreOptions<TData> = Parameters<
   ObservableQuery<TData>["fetchMore"]
 >[0];
 
 const QUERY_REFERENCE_SYMBOL: unique symbol = Symbol();
+const PROMISE_SYMBOL: unique symbol = Symbol();
+
 /**
  * A `QueryReference` is an opaque object returned by {@link useBackgroundQuery}.
  * A child component reading the `QueryReference` via {@link useReadQuery} will
  * suspend until the promise resolves.
  */
 export interface QueryReference<TData = unknown> {
-  [QUERY_REFERENCE_SYMBOL]: InternalQueryReference<TData>;
+  readonly [QUERY_REFERENCE_SYMBOL]: InternalQueryReference<TData>;
+  [PROMISE_SYMBOL]: QueryRefPromise<TData>;
 }
 
 interface InternalQueryReferenceOptions {
@@ -39,13 +48,34 @@ interface InternalQueryReferenceOptions {
 export function wrapQueryRef<TData>(
   internalQueryRef: InternalQueryReference<TData>
 ): QueryReference<TData> {
-  return { [QUERY_REFERENCE_SYMBOL]: internalQueryRef };
+  return {
+    [QUERY_REFERENCE_SYMBOL]: internalQueryRef,
+    [PROMISE_SYMBOL]: internalQueryRef.promise,
+  };
 }
 
 export function unwrapQueryRef<TData>(
   queryRef: QueryReference<TData>
-): InternalQueryReference<TData> {
-  return queryRef[QUERY_REFERENCE_SYMBOL];
+): [InternalQueryReference<TData>, () => QueryRefPromise<TData>] {
+  const internalQueryRef = queryRef[QUERY_REFERENCE_SYMBOL];
+
+  return [
+    internalQueryRef,
+    () =>
+      // There is a chance the query ref's promise has been updated in the time
+      // the original promise had been suspended. In that case, we want to use
+      // it instead of the older promise which may contain outdated data.
+      internalQueryRef.promise.status === "fulfilled" ?
+        internalQueryRef.promise
+      : queryRef[PROMISE_SYMBOL],
+  ];
+}
+
+export function updateWrappedQueryRef<TData>(
+  queryRef: QueryReference<TData>,
+  promise: QueryRefPromise<TData>
+) {
+  queryRef[PROMISE_SYMBOL] = promise;
 }
 
 const OBSERVED_CHANGED_OPTIONS = [
@@ -67,8 +97,7 @@ export class InternalQueryReference<TData = unknown> {
   public readonly key: QueryKey = {};
   public readonly observable: ObservableQuery<TData>;
 
-  public promiseCache?: Map<QueryKey, Promise<ApolloQueryResult<TData>>>;
-  public promise: Promise<ApolloQueryResult<TData>>;
+  public promise: QueryRefPromise<TData>;
 
   private subscription: ObservableSubscription;
   private listeners = new Set<Listener<TData>>();
@@ -104,10 +133,12 @@ export class InternalQueryReference<TData = unknown> {
       this.promise = createFulfilledPromise(this.result);
       this.status = "idle";
     } else {
-      this.promise = new Promise((resolve, reject) => {
-        this.resolve = resolve;
-        this.reject = reject;
-      });
+      this.promise = wrapPromiseWithState(
+        new Promise((resolve, reject) => {
+          this.resolve = resolve;
+          this.reject = reject;
+        })
+      );
     }
 
     this.subscription = observable
@@ -268,23 +299,25 @@ export class InternalQueryReference<TData = unknown> {
         break;
       }
       case "idle": {
-        this.promise = createRejectedPromise(error);
+        this.promise = createRejectedPromise<ApolloQueryResult<TData>>(error);
         this.deliver(this.promise);
       }
     }
   }
 
-  private deliver(promise: Promise<ApolloQueryResult<TData>>) {
+  private deliver(promise: QueryRefPromise<TData>) {
     this.listeners.forEach((listener) => listener(promise));
   }
 
   private initiateFetch(returnedPromise: Promise<ApolloQueryResult<TData>>) {
     this.status = "loading";
 
-    this.promise = new Promise((resolve, reject) => {
-      this.resolve = resolve;
-      this.reject = reject;
-    });
+    this.promise = wrapPromiseWithState(
+      new Promise((resolve, reject) => {
+        this.resolve = resolve;
+        this.reject = reject;
+      })
+    );
 
     this.promise.catch(() => {});
 
diff --git a/src/react/hooks/__tests__/useBackgroundQuery.test.tsx b/src/react/hooks/__tests__/useBackgroundQuery.test.tsx
index 32bd0edcdc0..85b857e47a5 100644
--- a/src/react/hooks/__tests__/useBackgroundQuery.test.tsx
+++ b/src/react/hooks/__tests__/useBackgroundQuery.test.tsx
@@ -216,6 +216,7 @@ function renderVariablesIntegrationTest({
             },
           },
         },
+        delay: 200,
       };
     }
   );
@@ -642,7 +643,7 @@ describe("useBackgroundQuery", () => {
 
     const [queryRef] = result.current;
 
-    const _result = await unwrapQueryRef(queryRef).promise;
+    const _result = await unwrapQueryRef(queryRef)[0].promise;
 
     expect(_result).toEqual({
       data: { hello: "world 1" },
@@ -679,7 +680,7 @@ describe("useBackgroundQuery", () => {
 
     const [queryRef] = result.current;
 
-    const _result = await unwrapQueryRef(queryRef).promise;
+    const _result = await unwrapQueryRef(queryRef)[0].promise;
 
     await waitFor(() => {
       expect(_result).toEqual({
@@ -720,7 +721,7 @@ describe("useBackgroundQuery", () => {
 
     const [queryRef] = result.current;
 
-    const _result = await unwrapQueryRef(queryRef).promise;
+    const _result = await unwrapQueryRef(queryRef)[0].promise;
 
     await waitFor(() => {
       expect(_result).toMatchObject({
@@ -780,7 +781,7 @@ describe("useBackgroundQuery", () => {
 
     const [queryRef] = result.current;
 
-    const _result = await unwrapQueryRef(queryRef).promise;
+    const _result = await unwrapQueryRef(queryRef)[0].promise;
     const resultSet = new Set(_result.data.results);
     const values = Array.from(resultSet).map((item) => item.value);
 
@@ -841,7 +842,7 @@ describe("useBackgroundQuery", () => {
 
     const [queryRef] = result.current;
 
-    const _result = await unwrapQueryRef(queryRef).promise;
+    const _result = await unwrapQueryRef(queryRef)[0].promise;
     const resultSet = new Set(_result.data.results);
     const values = Array.from(resultSet).map((item) => item.value);
 
@@ -883,7 +884,7 @@ describe("useBackgroundQuery", () => {
 
     const [queryRef] = result.current;
 
-    const _result = await unwrapQueryRef(queryRef).promise;
+    const _result = await unwrapQueryRef(queryRef)[0].promise;
 
     expect(_result).toEqual({
       data: { hello: "from link" },
@@ -923,7 +924,7 @@ describe("useBackgroundQuery", () => {
 
     const [queryRef] = result.current;
 
-    const _result = await unwrapQueryRef(queryRef).promise;
+    const _result = await unwrapQueryRef(queryRef)[0].promise;
 
     expect(_result).toEqual({
       data: { hello: "from cache" },
@@ -970,7 +971,7 @@ describe("useBackgroundQuery", () => {
 
     const [queryRef] = result.current;
 
-    const _result = await unwrapQueryRef(queryRef).promise;
+    const _result = await unwrapQueryRef(queryRef)[0].promise;
 
     expect(_result).toEqual({
       data: { foo: "bar", hello: "from link" },
@@ -1010,7 +1011,7 @@ describe("useBackgroundQuery", () => {
 
     const [queryRef] = result.current;
 
-    const _result = await unwrapQueryRef(queryRef).promise;
+    const _result = await unwrapQueryRef(queryRef)[0].promise;
 
     expect(_result).toEqual({
       data: { hello: "from link" },
@@ -1053,7 +1054,7 @@ describe("useBackgroundQuery", () => {
 
     const [queryRef] = result.current;
 
-    const _result = await unwrapQueryRef(queryRef).promise;
+    const _result = await unwrapQueryRef(queryRef)[0].promise;
 
     expect(_result).toEqual({
       data: { hello: "from link" },
@@ -3224,12 +3225,14 @@ describe("useBackgroundQuery", () => {
           result: {
             data: { character: { id: "1", name: "Captain Marvel" } },
           },
+          delay: 200,
         },
         {
           request: { query, variables: { id: "2" } },
           result: {
             data: { character: { id: "2", name: "Captain America" } },
           },
+          delay: 200,
         },
       ];
 
@@ -3294,7 +3297,7 @@ describe("useBackgroundQuery", () => {
 
       // parent component re-suspends
       expect(renders.suspenseCount).toBe(2);
-      expect(renders.count).toBe(2);
+      expect(renders.count).toBe(1);
 
       expect(
         await screen.findByText("1 - Spider-Man (updated)")
@@ -3304,11 +3307,13 @@ describe("useBackgroundQuery", () => {
 
       // parent component re-suspends
       expect(renders.suspenseCount).toBe(3);
-      expect(renders.count).toBe(3);
+      expect(renders.count).toBe(2);
 
       expect(
         await screen.findByText("1 - Spider-Man (updated again)")
       ).toBeInTheDocument();
+
+      expect(renders.count).toBe(3);
     });
     it("throws errors when errors are returned after calling `refetch`", async () => {
       using _consoleSpy = spyOnConsole("error");
diff --git a/src/react/hooks/__tests__/useLoadableQuery.test.tsx b/src/react/hooks/__tests__/useLoadableQuery.test.tsx
index cbb72efdf94..8bb0a37b2b9 100644
--- a/src/react/hooks/__tests__/useLoadableQuery.test.tsx
+++ b/src/react/hooks/__tests__/useLoadableQuery.test.tsx
@@ -158,6 +158,7 @@ function createDefaultProfiler<TData>() {
       error: null as Error | null,
       result: null as UseReadQueryResult<TData> | null,
     },
+    skipNonTrackingRenders: true,
   });
 }
 
@@ -493,16 +494,24 @@ it("allows the client to be overridden", async () => {
   const { query } = useSimpleQueryCase();
 
   const globalClient = new ApolloClient({
-    link: new ApolloLink(() =>
-      Observable.of({ data: { greeting: "global hello" } })
-    ),
+    link: new MockLink([
+      {
+        request: { query },
+        result: { data: { greeting: "global hello" } },
+        delay: 10,
+      },
+    ]),
     cache: new InMemoryCache(),
   });
 
   const localClient = new ApolloClient({
-    link: new ApolloLink(() =>
-      Observable.of({ data: { greeting: "local hello" } })
-    ),
+    link: new MockLink([
+      {
+        request: { query },
+        result: { data: { greeting: "local hello" } },
+        delay: 10,
+      },
+    ]),
     cache: new InMemoryCache(),
   });
 
@@ -512,6 +521,7 @@ it("allows the client to be overridden", async () => {
     createDefaultProfiledComponents(Profiler);
 
   function App() {
+    useTrackRenders();
     const [loadQuery, queryRef] = useLoadableQuery(query, {
       client: localClient,
     });
@@ -562,9 +572,10 @@ it("passes context to the link", async () => {
     link: new ApolloLink((operation) => {
       return new Observable((observer) => {
         const { valueA, valueB } = operation.getContext();
-
-        observer.next({ data: { context: { valueA, valueB } } });
-        observer.complete();
+        setTimeout(() => {
+          observer.next({ data: { context: { valueA, valueB } } });
+          observer.complete();
+        }, 10);
       });
     }),
   });
@@ -575,6 +586,7 @@ it("passes context to the link", async () => {
     createDefaultProfiledComponents(Profiler);
 
   function App() {
+    useTrackRenders();
     const [loadQuery, queryRef] = useLoadableQuery(query, {
       context: { valueA: "A", valueB: "B" },
     });
@@ -657,6 +669,7 @@ it('enables canonical results when canonizeResults is "true"', async () => {
     createDefaultProfiledComponents(Profiler);
 
   function App() {
+    useTrackRenders();
     const [loadQuery, queryRef] = useLoadableQuery(query, {
       canonizeResults: true,
     });
@@ -738,6 +751,7 @@ it("can disable canonical results when the cache's canonizeResults setting is tr
     createDefaultProfiledComponents(Profiler);
 
   function App() {
+    useTrackRenders();
     const [loadQuery, queryRef] = useLoadableQuery(query, {
       canonizeResults: false,
     });
@@ -1456,12 +1470,14 @@ it("applies `errorPolicy` on next fetch when it changes between renders", async
     {
       request: { query },
       result: { data: { greeting: "Hello" } },
+      delay: 10,
     },
     {
       request: { query },
       result: {
         errors: [new GraphQLError("oops")],
       },
+      delay: 10,
     },
   ];
 
@@ -1470,6 +1486,7 @@ it("applies `errorPolicy` on next fetch when it changes between renders", async
     createDefaultProfiledComponents(Profiler);
 
   function App() {
+    useTrackRenders();
     const [errorPolicy, setErrorPolicy] = useState<ErrorPolicy>("none");
     const [loadQuery, queryRef, { refetch }] = useLoadableQuery(query, {
       errorPolicy,
@@ -1541,10 +1558,15 @@ it("applies `context` on next fetch when it changes between renders", async () =
   `;
 
   const link = new ApolloLink((operation) => {
-    return Observable.of({
-      data: {
-        phase: operation.getContext().phase,
-      },
+    return new Observable((subscriber) => {
+      setTimeout(() => {
+        subscriber.next({
+          data: {
+            phase: operation.getContext().phase,
+          },
+        });
+        subscriber.complete();
+      }, 10);
     });
   });
 
@@ -1558,6 +1580,7 @@ it("applies `context` on next fetch when it changes between renders", async () =
     createDefaultProfiledComponents(Profiler);
 
   function App() {
+    useTrackRenders();
     const [phase, setPhase] = React.useState("initial");
     const [loadQuery, queryRef, { refetch }] = useLoadableQuery(query, {
       context: { phase },
@@ -1659,6 +1682,7 @@ it("returns canonical results immediately when `canonizeResults` changes from `f
     createDefaultProfiledComponents(Profiler);
 
   function App() {
+    useTrackRenders();
     const [canonizeResults, setCanonizeResults] = React.useState(false);
     const [loadQuery, queryRef] = useLoadableQuery(query, {
       canonizeResults,
@@ -1724,6 +1748,7 @@ it("applies changed `refetchWritePolicy` to next fetch when changing between ren
     {
       request: { query, variables: { min: 0, max: 12 } },
       result: { data: { primes: [2, 3, 5, 7, 11] } },
+      delay: 10,
     },
     {
       request: { query, variables: { min: 12, max: 30 } },
@@ -1765,6 +1790,7 @@ it("applies changed `refetchWritePolicy` to next fetch when changing between ren
     createDefaultProfiledComponents(Profiler);
 
   function App() {
+    useTrackRenders();
     const [refetchWritePolicy, setRefetchWritePolicy] =
       React.useState<RefetchWritePolicy>("merge");
 
@@ -1895,6 +1921,7 @@ it("applies `returnPartialData` on next fetch when it changes between renders",
           },
         },
       },
+      delay: 10,
     },
     {
       request: { query: fullQuery },
@@ -2067,6 +2094,7 @@ it("applies updated `fetchPolicy` on next fetch when it changes between renders"
     createDefaultProfiledComponents(Profiler);
 
   function App() {
+    useTrackRenders();
     const [fetchPolicy, setFetchPolicy] =
       React.useState<LoadableQueryHookFetchPolicy>("cache-first");
 
@@ -2237,12 +2265,14 @@ it("re-suspends when calling `refetch` with new variables", async () => {
       result: {
         data: { character: { id: "1", name: "Captain Marvel" } },
       },
+      delay: 10,
     },
     {
       request: { query, variables: { id: "2" } },
       result: {
         data: { character: { id: "2", name: "Captain America" } },
       },
+      delay: 10,
     },
   ];
 
@@ -2319,6 +2349,7 @@ it("re-suspends multiple times when calling `refetch` multiple times", async ()
         data: { character: { id: "1", name: "Spider-Man" } },
       },
       maxUsageCount: 3,
+      delay: 10,
     },
   ];
 
@@ -2434,6 +2465,7 @@ it("throws errors when errors are returned after calling `refetch`", async () =>
     createDefaultProfiledComponents(Profiler);
 
   function App() {
+    useTrackRenders();
     const [loadQuery, queryRef, { refetch }] = useLoadableQuery(query);
 
     return (
@@ -2491,12 +2523,14 @@ it('ignores errors returned after calling `refetch` when errorPolicy is set to "
       result: {
         data: { character: { id: "1", name: "Captain Marvel" } },
       },
+      delay: 10,
     },
     {
       request: { query, variables: { id: "1" } },
       result: {
         errors: [new GraphQLError("Something went wrong")],
       },
+      delay: 10,
     },
   ];
 
@@ -2506,6 +2540,7 @@ it('ignores errors returned after calling `refetch` when errorPolicy is set to "
     createDefaultProfiledComponents(Profiler);
 
   function App() {
+    useTrackRenders();
     const [loadQuery, queryRef, { refetch }] = useLoadableQuery(query, {
       errorPolicy: "ignore",
     });
@@ -2586,6 +2621,7 @@ it('returns errors after calling `refetch` when errorPolicy is set to "all"', as
     createDefaultProfiledComponents(Profiler);
 
   function App() {
+    useTrackRenders();
     const [loadQuery, queryRef, { refetch }] = useLoadableQuery(query, {
       errorPolicy: "all",
     });
@@ -2668,6 +2704,7 @@ it('handles partial data results after calling `refetch` when errorPolicy is set
     createDefaultProfiledComponents(Profiler);
 
   function App() {
+    useTrackRenders();
     const [loadQuery, queryRef, { refetch }] = useLoadableQuery(query, {
       errorPolicy: "all",
     });
@@ -2933,6 +2970,7 @@ it("properly uses `updateQuery` when calling `fetchMore`", async () => {
     createDefaultProfiledComponents(Profiler);
 
   function App() {
+    useTrackRenders();
     const [loadQuery, queryRef, { fetchMore }] = useLoadableQuery(query);
 
     return (
@@ -3000,6 +3038,9 @@ it("properly uses `updateQuery` when calling `fetchMore`", async () => {
     });
   }
 
+  // TODO investigate: this test highlights a React render
+  // that actually doesn't rerender any user-provided components
+  // so we need to use `skipNonTrackingRenders`
   await expect(Profiler).not.toRerender();
 });
 
@@ -3023,6 +3064,7 @@ it("properly uses cache field policies when calling `fetchMore` without `updateQ
   });
 
   function App() {
+    useTrackRenders();
     const [loadQuery, queryRef, { fetchMore }] = useLoadableQuery(query);
 
     return (
@@ -3083,6 +3125,9 @@ it("properly uses cache field policies when calling `fetchMore` without `updateQ
     });
   }
 
+  // TODO investigate: this test highlights a React render
+  // that actually doesn't rerender any user-provided components
+  // so we need to use `skipNonTrackingRenders`
   await expect(Profiler).not.toRerender();
 });
 
@@ -3269,6 +3314,7 @@ it('honors refetchWritePolicy set to "merge"', async () => {
     {
       request: { query, variables: { min: 0, max: 12 } },
       result: { data: { primes: [2, 3, 5, 7, 11] } },
+      delay: 10,
     },
     {
       request: { query, variables: { min: 12, max: 30 } },
@@ -3304,6 +3350,7 @@ it('honors refetchWritePolicy set to "merge"', async () => {
   });
 
   function App() {
+    useTrackRenders();
     const [loadQuery, queryRef, { refetch }] = useLoadableQuery(query, {
       refetchWritePolicy: "merge",
     });
@@ -3381,6 +3428,7 @@ it('defaults refetchWritePolicy to "overwrite"', async () => {
     {
       request: { query, variables: { min: 0, max: 12 } },
       result: { data: { primes: [2, 3, 5, 7, 11] } },
+      delay: 10,
     },
     {
       request: { query, variables: { min: 12, max: 30 } },
@@ -3416,6 +3464,7 @@ it('defaults refetchWritePolicy to "overwrite"', async () => {
   });
 
   function App() {
+    useTrackRenders();
     const [loadQuery, queryRef, { refetch }] = useLoadableQuery(query);
 
     return (
@@ -3691,6 +3740,7 @@ it('suspends when partial data is in the cache and using a "network-only" fetch
     {
       request: { query: fullQuery },
       result: { data: { character: { id: "1", name: "Doctor Strange" } } },
+      delay: 10,
     },
   ];
 
@@ -3782,6 +3832,7 @@ it('suspends when partial data is in the cache and using a "no-cache" fetch poli
     {
       request: { query: fullQuery },
       result: { data: { character: { id: "1", name: "Doctor Strange" } } },
+      delay: 10,
     },
   ];
 
diff --git a/src/react/hooks/useBackgroundQuery.ts b/src/react/hooks/useBackgroundQuery.ts
index d6d4af2789b..47484ad45b8 100644
--- a/src/react/hooks/useBackgroundQuery.ts
+++ b/src/react/hooks/useBackgroundQuery.ts
@@ -7,7 +7,11 @@ import type {
   WatchQueryOptions,
 } from "../../core/index.js";
 import { useApolloClient } from "./useApolloClient.js";
-import { wrapQueryRef } from "../cache/QueryReference.js";
+import {
+  unwrapQueryRef,
+  updateWrappedQueryRef,
+  wrapQueryRef,
+} from "../cache/QueryReference.js";
 import type { QueryReference } from "../cache/QueryReference.js";
 import type { BackgroundQueryHookOptions, NoInfer } from "../types/types.js";
 import { __use } from "./internal/index.js";
@@ -201,13 +205,15 @@ export function useBackgroundQuery<
     client.watchQuery(watchQueryOptions as WatchQueryOptions<any, any>)
   );
 
-  const [promiseCache, setPromiseCache] = React.useState(
-    () => new Map([[queryRef.key, queryRef.promise]])
+  const [wrappedQueryRef, setWrappedQueryRef] = React.useState(
+    wrapQueryRef(queryRef)
   );
-
+  if (unwrapQueryRef(wrappedQueryRef)[0] !== queryRef) {
+    setWrappedQueryRef(wrapQueryRef(queryRef));
+  }
   if (queryRef.didChangeOptions(watchQueryOptions)) {
     const promise = queryRef.applyOptions(watchQueryOptions);
-    promiseCache.set(queryRef.key, promise);
+    updateWrappedQueryRef(wrappedQueryRef, promise);
   }
 
   React.useEffect(() => queryRef.retain(), [queryRef]);
@@ -216,9 +222,7 @@ export function useBackgroundQuery<
     (options) => {
       const promise = queryRef.fetchMore(options as FetchMoreQueryOptions<any>);
 
-      setPromiseCache((promiseCache) =>
-        new Map(promiseCache).set(queryRef.key, queryRef.promise)
-      );
+      setWrappedQueryRef(wrapQueryRef(queryRef));
 
       return promise;
     },
@@ -229,22 +233,13 @@ export function useBackgroundQuery<
     (variables) => {
       const promise = queryRef.refetch(variables);
 
-      setPromiseCache((promiseCache) =>
-        new Map(promiseCache).set(queryRef.key, queryRef.promise)
-      );
+      setWrappedQueryRef(wrapQueryRef(queryRef));
 
       return promise;
     },
     [queryRef]
   );
 
-  queryRef.promiseCache = promiseCache;
-
-  const wrappedQueryRef = React.useMemo(
-    () => wrapQueryRef(queryRef),
-    [queryRef]
-  );
-
   return [
     didFetchResult.current ? wrappedQueryRef : void 0,
     { fetchMore, refetch },
diff --git a/src/react/hooks/useLoadableQuery.ts b/src/react/hooks/useLoadableQuery.ts
index 771c02afc5f..558479c52f6 100644
--- a/src/react/hooks/useLoadableQuery.ts
+++ b/src/react/hooks/useLoadableQuery.ts
@@ -130,10 +130,6 @@ export function useLoadableQuery<
     promiseCache.set(queryRef.key, promise);
   }
 
-  if (queryRef) {
-    queryRef.promiseCache = promiseCache;
-  }
-
   const calledDuringRender = useRenderGuard();
 
   React.useEffect(() => queryRef?.retain(), [queryRef]);
diff --git a/src/react/hooks/useReadQuery.ts b/src/react/hooks/useReadQuery.ts
index 803535c4878..f2320aa58ea 100644
--- a/src/react/hooks/useReadQuery.ts
+++ b/src/react/hooks/useReadQuery.ts
@@ -1,9 +1,11 @@
 import * as React from "rehackt";
-import { unwrapQueryRef } from "../cache/QueryReference.js";
+import {
+  unwrapQueryRef,
+  updateWrappedQueryRef,
+} from "../cache/QueryReference.js";
 import type { QueryReference } from "../cache/QueryReference.js";
 import { __use } from "./internal/index.js";
 import { toApolloError } from "./useSuspenseQuery.js";
-import { invariant } from "../../utilities/globals/index.js";
 import { useSyncExternalStore } from "./useSyncExternalStore.js";
 import type { ApolloError } from "../../errors/index.js";
 import type { NetworkStatus } from "../../core/index.js";
@@ -36,32 +38,23 @@ export interface UseReadQueryResult<TData = unknown> {
 export function useReadQuery<TData>(
   queryRef: QueryReference<TData>
 ): UseReadQueryResult<TData> {
-  const internalQueryRef = unwrapQueryRef(queryRef);
-  invariant(
-    internalQueryRef.promiseCache,
-    "It appears that `useReadQuery` was used outside of `useBackgroundQuery`. " +
-      "`useReadQuery` is only supported for use with `useBackgroundQuery`. " +
-      "Please ensure you are passing the `queryRef` returned from `useBackgroundQuery`."
+  const [internalQueryRef, getPromise] = React.useMemo(
+    () => unwrapQueryRef(queryRef),
+    [queryRef]
   );
 
-  const { promiseCache, key } = internalQueryRef;
-
-  if (!promiseCache.has(key)) {
-    promiseCache.set(key, internalQueryRef.promise);
-  }
-
   const promise = useSyncExternalStore(
     React.useCallback(
       (forceUpdate) => {
         return internalQueryRef.listen((promise) => {
-          internalQueryRef.promiseCache!.set(internalQueryRef.key, promise);
+          updateWrappedQueryRef(queryRef, promise);
           forceUpdate();
         });
       },
       [internalQueryRef]
     ),
-    () => promiseCache.get(key)!,
-    () => promiseCache.get(key)!
+    getPromise,
+    getPromise
   );
 
   const result = __use(promise);
diff --git a/src/testing/internal/profile/profile.tsx b/src/testing/internal/profile/profile.tsx
index 9257ea4f203..12e681ad7d2 100644
--- a/src/testing/internal/profile/profile.tsx
+++ b/src/testing/internal/profile/profile.tsx
@@ -98,17 +98,8 @@ export interface ProfiledComponent<Snapshot extends ValidSnapshot, Props = {}>
 export function profile<Snapshot extends ValidSnapshot = void, Props = {}>({
   Component,
   ...options
-}: {
-  onRender?: (
-    info: BaseRender & {
-      snapshot: Snapshot;
-      replaceSnapshot: ReplaceSnapshot<Snapshot>;
-      mergeSnapshot: MergeSnapshot<Snapshot>;
-    }
-  ) => void;
+}: Parameters<typeof createProfiler<Snapshot>>[0] & {
   Component: React.ComponentType<Props>;
-  snapshotDOM?: boolean;
-  initialSnapshot?: Snapshot;
 }): ProfiledComponent<Snapshot, Props> {
   const Profiler = createProfiler(options);
 
@@ -140,6 +131,7 @@ export function createProfiler<Snapshot extends ValidSnapshot = void>({
   onRender,
   snapshotDOM = false,
   initialSnapshot,
+  skipNonTrackingRenders,
 }: {
   onRender?: (
     info: BaseRender & {
@@ -150,6 +142,11 @@ export function createProfiler<Snapshot extends ValidSnapshot = void>({
   ) => void;
   snapshotDOM?: boolean;
   initialSnapshot?: Snapshot;
+  /**
+   * This will skip renders during which no renders tracked by
+   * `useTrackRenders` occured.
+   */
+  skipNonTrackingRenders?: boolean;
 } = {}) {
   let nextRender: Promise<Render<Snapshot>> | undefined;
   let resolveNextRender: ((render: Render<Snapshot>) => void) | undefined;
@@ -194,6 +191,12 @@ export function createProfiler<Snapshot extends ValidSnapshot = void>({
     startTime,
     commitTime
   ) => {
+    if (
+      skipNonTrackingRenders &&
+      profilerContext.renderedComponents.length === 0
+    ) {
+      return;
+    }
     const baseRender = {
       id,
       phase,
diff --git a/src/utilities/index.ts b/src/utilities/index.ts
index ec05d2aa043..35c1ec45cad 100644
--- a/src/utilities/index.ts
+++ b/src/utilities/index.ts
@@ -98,6 +98,7 @@ export type {
 } from "./observables/Observable.js";
 export { Observable } from "./observables/Observable.js";
 
+export type { PromiseWithState } from "./promises/decoration.js";
 export {
   isStatefulPromise,
   createFulfilledPromise,