diff --git a/Include/internal/pycore_pymem.h b/Include/internal/pycore_pymem.h
index 02537bdfef8598..3e12084b82ab26 100644
--- a/Include/internal/pycore_pymem.h
+++ b/Include/internal/pycore_pymem.h
@@ -88,7 +88,7 @@ extern wchar_t *_PyMem_DefaultRawWcsdup(const wchar_t *str);
 extern int _PyMem_DebugEnabled(void);
 
 // Enqueue a pointer to be freed possibly after some delay.
-extern void _PyMem_FreeDelayed(void *ptr);
+extern void _PyMem_FreeDelayed(void *ptr, size_t size);
 
 // Enqueue an object to be freed possibly after some delay
 #ifdef Py_GIL_DISABLED
diff --git a/Include/internal/pycore_qsbr.h b/Include/internal/pycore_qsbr.h
index b835c3abaf5d0b..1f9b3fcf777493 100644
--- a/Include/internal/pycore_qsbr.h
+++ b/Include/internal/pycore_qsbr.h
@@ -48,8 +48,21 @@ struct _qsbr_thread_state {
     // Thread state (or NULL)
     PyThreadState *tstate;
 
-    // Used to defer advancing write sequence a fixed number of times
-    int deferrals;
+    // Number of held items added by this thread since the last write sequence
+    // advance
+    int deferred_count;
+
+    // Estimate for the amount of memory that is held by this thread since
+    // the last write sequence advance
+    size_t deferred_memory;
+
+    // Amount of memory in mimalloc pages deferred from collection.  When
+    // deferred, they are prevented from being used for a different size class
+    // and in a different thread.
+    size_t deferred_page_memory;
+
+    // True if the deferred memory frees should be processed.
+    bool should_process;
 
     // Is this thread state allocated?
     bool allocated;
@@ -109,11 +122,17 @@ _Py_qbsr_goal_reached(struct _qsbr_thread_state *qsbr, uint64_t goal)
 extern uint64_t
 _Py_qsbr_advance(struct _qsbr_shared *shared);
 
-// Batches requests to advance the write sequence. This advances the write
-// sequence every N calls, which reduces overhead but increases time to
-// reclamation. Returns the new goal.
+// Return the next value for the write sequence (current plus the increment).
 extern uint64_t
-_Py_qsbr_deferred_advance(struct _qsbr_thread_state *qsbr);
+_Py_qsbr_shared_next(struct _qsbr_shared *shared);
+
+// Return true if deferred memory frees held by QSBR should be processed to
+// determine if they can be safely freed.
+static inline bool
+_Py_qsbr_should_process(struct _qsbr_thread_state *qsbr)
+{
+    return qsbr->should_process;
+}
 
 // Have the read sequences advanced to the given goal? If this returns true,
 // it safe to reclaim any memory tagged with the goal (or earlier goal).
diff --git a/Misc/NEWS.d/next/Core_and_Builtins/2025-06-03-21-06-22.gh-issue-133136.Usnvri.rst b/Misc/NEWS.d/next/Core_and_Builtins/2025-06-03-21-06-22.gh-issue-133136.Usnvri.rst
new file mode 100644
index 00000000000000..a9501c13c95b3a
--- /dev/null
+++ b/Misc/NEWS.d/next/Core_and_Builtins/2025-06-03-21-06-22.gh-issue-133136.Usnvri.rst
@@ -0,0 +1,2 @@
+Limit excess memory usage in the :term:`free threading` build when a
+large dictionary or list is resized and accessed by multiple threads.
diff --git a/Objects/codeobject.c b/Objects/codeobject.c
index 34b50ef97d544b..63a3f2b908ecd9 100644
--- a/Objects/codeobject.c
+++ b/Objects/codeobject.c
@@ -3370,7 +3370,7 @@ create_tlbc_lock_held(PyCodeObject *co, Py_ssize_t idx)
         }
         memcpy(new_tlbc->entries, tlbc->entries, tlbc->size * sizeof(void *));
         _Py_atomic_store_ptr_release(&co->co_tlbc, new_tlbc);
-        _PyMem_FreeDelayed(tlbc);
+        _PyMem_FreeDelayed(tlbc, tlbc->size * sizeof(void *));
         tlbc = new_tlbc;
     }
     char *bc = PyMem_Calloc(1, _PyCode_NBYTES(co));
diff --git a/Objects/dictobject.c b/Objects/dictobject.c
index 72901377cbb3da..6b7b150f0e2f2c 100644
--- a/Objects/dictobject.c
+++ b/Objects/dictobject.c
@@ -813,7 +813,7 @@ free_keys_object(PyDictKeysObject *keys, bool use_qsbr)
 {
 #ifdef Py_GIL_DISABLED
     if (use_qsbr) {
-        _PyMem_FreeDelayed(keys);
+        _PyMem_FreeDelayed(keys, _PyDict_KeysSize(keys));
         return;
     }
 #endif
@@ -858,7 +858,7 @@ free_values(PyDictValues *values, bool use_qsbr)
     assert(values->embedded == 0);
 #ifdef Py_GIL_DISABLED
     if (use_qsbr) {
-        _PyMem_FreeDelayed(values);
+        _PyMem_FreeDelayed(values, values_size_from_count(values->capacity));
         return;
     }
 #endif
diff --git a/Objects/listobject.c b/Objects/listobject.c
index c5895645a2dd12..23d3472b6d4153 100644
--- a/Objects/listobject.c
+++ b/Objects/listobject.c
@@ -61,7 +61,8 @@ free_list_items(PyObject** items, bool use_qsbr)
 #ifdef Py_GIL_DISABLED
     _PyListArray *array = _Py_CONTAINER_OF(items, _PyListArray, ob_item);
     if (use_qsbr) {
-        _PyMem_FreeDelayed(array);
+        size_t size = sizeof(_PyListArray) + array->allocated * sizeof(PyObject *);
+        _PyMem_FreeDelayed(array, size);
     }
     else {
         PyMem_Free(array);
diff --git a/Objects/obmalloc.c b/Objects/obmalloc.c
index d3931aab623b70..650a742a5a9f49 100644
--- a/Objects/obmalloc.c
+++ b/Objects/obmalloc.c
@@ -124,6 +124,29 @@ _PyMem_mi_page_is_safe_to_free(mi_page_t *page)
 
 }
 
+#ifdef Py_GIL_DISABLED
+
+// If we are deferring collection of more than this amount of memory for
+// mimalloc pages, advance the write sequence.  Advancing allows these
+// pages to be re-used in a different thread or for a different size class.
+#define QSBR_PAGE_MEM_LIMIT 4096*20
+
+// Return true if the global write sequence should be advanced for a mimalloc
+// page that is deferred from collection.
+static bool
+should_advance_qsbr_for_page(struct _qsbr_thread_state *qsbr, mi_page_t *page)
+{
+    size_t bsize = mi_page_block_size(page);
+    size_t page_size = page->capacity*bsize;
+    qsbr->deferred_page_memory += page_size;
+    if (qsbr->deferred_page_memory > QSBR_PAGE_MEM_LIMIT) {
+        qsbr->deferred_page_memory = 0;
+        return true;
+    }
+    return false;
+}
+#endif
+
 static bool
 _PyMem_mi_page_maybe_free(mi_page_t *page, mi_page_queue_t *pq, bool force)
 {
@@ -139,7 +162,14 @@ _PyMem_mi_page_maybe_free(mi_page_t *page, mi_page_queue_t *pq, bool force)
 
         _PyMem_mi_page_clear_qsbr(page);
         page->retire_expire = 0;
-        page->qsbr_goal = _Py_qsbr_deferred_advance(tstate->qsbr);
+
+        if (should_advance_qsbr_for_page(tstate->qsbr, page)) {
+            page->qsbr_goal = _Py_qsbr_advance(tstate->qsbr->shared);
+        }
+        else {
+            page->qsbr_goal = _Py_qsbr_shared_next(tstate->qsbr->shared);
+        }
+
         llist_insert_tail(&tstate->mimalloc.page_list, &page->qsbr_node);
         return false;
     }
@@ -1141,8 +1171,38 @@ free_work_item(uintptr_t ptr, delayed_dealloc_cb cb, void *state)
     }
 }
 
+
+#ifdef Py_GIL_DISABLED
+
+// For deferred advance on free: the number of deferred items before advancing
+// the write sequence.  This is based on WORK_ITEMS_PER_CHUNK.  We ideally
+// want to process a chunk before it overflows.
+#define QSBR_DEFERRED_LIMIT 127
+
+// If the deferred memory exceeds 1 MiB, advance the write sequence.  This
+// helps limit memory usage due to QSBR delaying frees too long.
+#define QSBR_FREE_MEM_LIMIT 1024*1024
+
+// Return true if the global write sequence should be advanced for a deferred
+// memory free.
+static bool
+should_advance_qsbr_for_free(struct _qsbr_thread_state *qsbr, size_t size)
+{
+    qsbr->deferred_count++;
+    qsbr->deferred_memory += size;
+    if (qsbr->deferred_count > QSBR_DEFERRED_LIMIT ||
+            qsbr->deferred_memory > QSBR_FREE_MEM_LIMIT) {
+        qsbr->deferred_count = 0;
+        qsbr->deferred_memory = 0;
+        qsbr->should_process = true;
+        return true;
+    }
+    return false;
+}
+#endif
+
 static void
-free_delayed(uintptr_t ptr)
+free_delayed(uintptr_t ptr, size_t size)
 {
 #ifndef Py_GIL_DISABLED
     free_work_item(ptr, NULL, NULL);
@@ -1200,23 +1260,32 @@ free_delayed(uintptr_t ptr)
     }
 
     assert(buf != NULL && buf->wr_idx < WORK_ITEMS_PER_CHUNK);
-    uint64_t seq = _Py_qsbr_deferred_advance(tstate->qsbr);
+    uint64_t seq;
+    if (should_advance_qsbr_for_free(tstate->qsbr, size)) {
+        seq = _Py_qsbr_advance(tstate->qsbr->shared);
+    }
+    else {
+        seq = _Py_qsbr_shared_next(tstate->qsbr->shared);
+    }
     buf->array[buf->wr_idx].ptr = ptr;
     buf->array[buf->wr_idx].qsbr_goal = seq;
     buf->wr_idx++;
 
     if (buf->wr_idx == WORK_ITEMS_PER_CHUNK) {
+        // Normally the processing of delayed items is done from the eval
+        // breaker.  Processing here is a safety measure to ensure too much
+        // work does not accumulate.
         _PyMem_ProcessDelayed((PyThreadState *)tstate);
     }
 #endif
 }
 
 void
-_PyMem_FreeDelayed(void *ptr)
+_PyMem_FreeDelayed(void *ptr, size_t size)
 {
     assert(!((uintptr_t)ptr & 0x01));
     if (ptr != NULL) {
-        free_delayed((uintptr_t)ptr);
+        free_delayed((uintptr_t)ptr, size);
     }
 }
 
@@ -1226,7 +1295,10 @@ _PyObject_XDecRefDelayed(PyObject *ptr)
 {
     assert(!((uintptr_t)ptr & 0x01));
     if (ptr != NULL) {
-        free_delayed(((uintptr_t)ptr)|0x01);
+        // We use 0 as the size since we don't have an easy way to know the
+        // actual size.  If we are freeing many objects, the write sequence
+        // will be advanced due to QSBR_DEFERRED_LIMIT.
+        free_delayed(((uintptr_t)ptr)|0x01, 0);
     }
 }
 #endif
@@ -1302,6 +1374,8 @@ _PyMem_ProcessDelayed(PyThreadState *tstate)
     PyInterpreterState *interp = tstate->interp;
     _PyThreadStateImpl *tstate_impl = (_PyThreadStateImpl *)tstate;
 
+    tstate_impl->qsbr->should_process = false;
+
     // Process thread-local work
     process_queue(&tstate_impl->mem_free_queue, tstate_impl, true, NULL, NULL);
 
diff --git a/Python/ceval_gil.c b/Python/ceval_gil.c
index 6d2383ac7c1c65..020bd790b630e2 100644
--- a/Python/ceval_gil.c
+++ b/Python/ceval_gil.c
@@ -1387,6 +1387,10 @@ _Py_HandlePending(PyThreadState *tstate)
         _Py_unset_eval_breaker_bit(tstate, _PY_EVAL_EXPLICIT_MERGE_BIT);
         _Py_brc_merge_refcounts(tstate);
     }
+    /* Process deferred memory frees held by QSBR */
+    if (_Py_qsbr_should_process(((_PyThreadStateImpl *)tstate)->qsbr)) {
+        _PyMem_ProcessDelayed(tstate);
+    }
 #endif
 
     /* GC scheduled to run */
diff --git a/Python/qsbr.c b/Python/qsbr.c
index bf34fb2523dfc8..c9fad5c05ef108 100644
--- a/Python/qsbr.c
+++ b/Python/qsbr.c
@@ -41,10 +41,6 @@
 // Starting size of the array of qsbr thread states
 #define MIN_ARRAY_SIZE 8
 
-// For _Py_qsbr_deferred_advance(): the number of deferrals before advancing
-// the write sequence.
-#define QSBR_DEFERRED_LIMIT 10
-
 // Allocate a QSBR thread state from the freelist
 static struct _qsbr_thread_state *
 qsbr_allocate(struct _qsbr_shared *shared)
@@ -117,13 +113,9 @@ _Py_qsbr_advance(struct _qsbr_shared *shared)
 }
 
 uint64_t
-_Py_qsbr_deferred_advance(struct _qsbr_thread_state *qsbr)
+_Py_qsbr_shared_next(struct _qsbr_shared *shared)
 {
-    if (++qsbr->deferrals < QSBR_DEFERRED_LIMIT) {
-        return _Py_qsbr_shared_current(qsbr->shared) + QSBR_INCR;
-    }
-    qsbr->deferrals = 0;
-    return _Py_qsbr_advance(qsbr->shared);
+    return _Py_qsbr_shared_current(shared) + QSBR_INCR;
 }
 
 static uint64_t