diff --git a/bolt/runtime/common.h b/bolt/runtime/common.h
index 2be89f757d30..2a312120d32e 100644
--- a/bolt/runtime/common.h
+++ b/bolt/runtime/common.h
@@ -492,6 +492,27 @@ public:
   }
 };
 
+/// RAII wrapper for Mutex
+class TryLock {
+  Mutex &M;
+  bool Locked = false;
+
+public:
+  TryLock(Mutex &M) : M(M) {
+    int Retry = 100;
+    while (--Retry && !M.acquire())
+      ;
+    if (Retry)
+      Locked = true;
+  }
+  bool isLocked() { return Locked; }
+
+  ~TryLock() {
+    if (isLocked())
+      M.release();
+  }
+};
+
 inline uint64_t alignTo(uint64_t Value, uint64_t Align) {
   return (Value + Align - 1) / Align * Align;
 }
diff --git a/bolt/runtime/instr.cpp b/bolt/runtime/instr.cpp
index c5374c17c316..7ff34409062f 100644
--- a/bolt/runtime/instr.cpp
+++ b/bolt/runtime/instr.cpp
@@ -240,6 +240,9 @@ void operator delete(void *Ptr, BumpPtrAllocator &A) { A.deallocate(Ptr); }
 
 namespace {
 
+// Disable instrumentation optimizations that sacrifice profile accuracy
+extern "C" bool __bolt_instr_conservative;
+
 /// Basic key-val atom stored in our hash
 struct SimpleHashTableEntryBase {
   uint64_t Key;
@@ -272,10 +275,14 @@ public:
   /// avoid storing a pointer to it as part of this table (remember there is one
   /// hash for each indirect call site, so we wan't to minimize our footprint).
   MapEntry &get(uint64_t Key, BumpPtrAllocator &Alloc) {
+    if (!__bolt_instr_conservative) {
+      TryLock L(M);
+      if (!L.isLocked())
+        return NoEntry;
+      return getOrAllocEntry(Key, Alloc);
+    }
     Lock L(M);
-    if (TableRoot)
-      return getEntry(TableRoot, Key, Key, Alloc, 0);
-    return firstAllocation(Key, Alloc);
+    return getOrAllocEntry(Key, Alloc);
   }
 
   /// Traverses all elements in the table
@@ -293,6 +300,7 @@ private:
   constexpr static uint64_t FollowUpTableMarker = 0x8000000000000000ull;
 
   MapEntry *TableRoot{nullptr};
+  MapEntry NoEntry;
   Mutex M;
 
   template <typename... Args>
@@ -355,6 +363,12 @@ private:
     Entry.Key = reinterpret_cast<uint64_t>(NextLevelTbl) | FollowUpTableMarker;
     return getEntry(NextLevelTbl, Key, Remainder, Alloc, CurLevel + 1);
   }
+
+  MapEntry &getOrAllocEntry(uint64_t Key, BumpPtrAllocator &Alloc) {
+    if (TableRoot)
+      return getEntry(TableRoot, Key, Key, Alloc, 0);
+    return firstAllocation(Key, Alloc);
+  }
 };
 
 template <typename T> void resetIndCallCounter(T &Entry) {
diff --git a/bolt/src/Passes/Instrumentation.cpp b/bolt/src/Passes/Instrumentation.cpp
index b116ce5cecc9..5531b216a85b 100644
--- a/bolt/src/Passes/Instrumentation.cpp
+++ b/bolt/src/Passes/Instrumentation.cpp
@@ -43,9 +43,8 @@ cl::opt<bool> InstrumentationFileAppendPID(
 
 cl::opt<bool> ConservativeInstrumentation(
     "conservative-instrumentation",
-    cl::desc(
-        "don't trust our CFG and disable spanning trees and any counter "
-        "inference, put a counter everywhere (for debugging, default: false)"),
+    cl::desc("disable instrumentation optimizations that sacrifice profile "
+             "accuracy (for debugging, default: false)"),
     cl::init(false), cl::Optional, cl::cat(BoltInstrCategory));
 
 cl::opt<uint32_t> InstrumentationSleepTime(
diff --git a/bolt/src/RuntimeLibs/InstrumentationRuntimeLibrary.cpp b/bolt/src/RuntimeLibs/InstrumentationRuntimeLibrary.cpp
index 4412628b4257..1bc276d682b1 100644
--- a/bolt/src/RuntimeLibs/InstrumentationRuntimeLibrary.cpp
+++ b/bolt/src/RuntimeLibs/InstrumentationRuntimeLibrary.cpp
@@ -24,6 +24,7 @@ namespace opts {
 extern cl::OptionCategory BoltOptCategory;
 
 extern cl::opt<bool> InstrumentationFileAppendPID;
+extern cl::opt<bool> ConservativeInstrumentation;
 extern cl::opt<std::string> InstrumentationFilename;
 extern cl::opt<std::string> InstrumentationBinpath;
 extern cl::opt<uint32_t> InstrumentationSleepTime;
@@ -169,6 +170,8 @@ void InstrumentationRuntimeLibrary::emitBinary(BinaryContext &BC,
   emitIntValue("__bolt_instr_sleep_time", opts::InstrumentationSleepTime);
   emitIntValue("__bolt_instr_no_counters_clear",
                !!opts::InstrumentationNoCountersClear, 1);
+  emitIntValue("__bolt_instr_conservative", !!opts::ConservativeInstrumentation,
+               1);
   emitIntValue("__bolt_instr_wait_forks", !!opts::InstrumentationWaitForks, 1);
   emitIntValue("__bolt_num_counters", Summary->Counters.size());
   emitValue(Summary->IndCallCounterFuncPtr, nullptr);
diff --git a/bolt/test/X86/instrumentation-indirect.c b/bolt/test/X86/instrumentation-indirect.c
new file mode 100644
index 000000000000..d8b533deba26
--- /dev/null
+++ b/bolt/test/X86/instrumentation-indirect.c
@@ -0,0 +1,66 @@
+/* Checks that BOLT correctly handles instrumentation of indirect calls
+ * including case with indirect calls in signals handlers.
+ */
+#include <signal.h>
+#include <stdio.h>
+#include <sys/types.h>
+#include <sys/wait.h>
+#include <unistd.h>
+
+int foo(int x) { return x + 1; }
+
+int bar(int (*fn)(int), int val) { return fn(val); }
+
+void sigHandler(int signum) { bar(foo, 3); }
+
+int main(int argc, char **argv) {
+  long long i;
+  pid_t pid, wpid;
+  int wstatus;
+  signal(SIGUSR1, sigHandler);
+  pid = fork();
+  if (pid) {
+    do {
+      kill(pid, SIGUSR1);
+      usleep(0);
+      wpid = waitpid(pid, &wstatus, WNOHANG);
+    } while (wpid == 0);
+    printf("[parent]\n");
+  } else {
+    for (i = 0; i < 100000; i++) {
+      bar(foo, i % 10);
+    }
+    printf("[child]\n");
+  }
+  return 0;
+}
+
+/*
+REQUIRES: system-linux && lit-max-individual-test-time
+
+RUN: %host_cc %cflags %s -o %t.exe -Wl,-q -pie -fpie
+
+RUN: llvm-bolt %t.exe -instrument -instrumentation-file=%t.fdata \
+RUN:   -instrumentation-wait-forks=1 -conservative-instrumentation \
+RUN:   -o %t.instrumented_conservative
+
+# Instrumented program needs to finish returning zero
+RUN: %t.instrumented_conservative | FileCheck %s -check-prefix=CHECK-OUTPUT
+
+RUN: llvm-bolt %t.exe -instrument -instrumentation-file=%t.fdata \
+RUN:   -instrumentation-wait-forks=1 \
+RUN:   -o %t.instrumented
+
+# Instrumented program needs to finish returning zero
+RUN: %t.instrumented | FileCheck %s -check-prefix=CHECK-OUTPUT
+
+# Test that the instrumented data makes sense
+RUN:  llvm-bolt %t.exe -o %t.bolted -data %t.fdata \
+RUN:    -reorder-blocks=cache+ -reorder-functions=hfsort+ \
+RUN:    -print-only=interp -print-finalized
+
+RUN: %t.bolted | FileCheck %s -check-prefix=CHECK-OUTPUT
+
+CHECK-OUTPUT: [child]
+CHECK-OUTPUT: [parent]
+*/