diff --git a/src/jdk.jfr/share/classes/jdk/jfr/internal/StringPool.java b/src/jdk.jfr/share/classes/jdk/jfr/internal/StringPool.java
index 6513895069e..ecd8d7aad24 100644
--- a/src/jdk.jfr/share/classes/jdk/jfr/internal/StringPool.java
+++ b/src/jdk.jfr/share/classes/jdk/jfr/internal/StringPool.java
@@ -29,8 +29,8 @@
 
 public final class StringPool {
     public static final int MIN_LIMIT = 16;
-    public static final int MAX_LIMIT = 128; /* 0 MAX means disabled */
-
+    public static final int MAX_LIMIT = 131072; /* 0 MAX means disabled */
+    private static final int PRECACHE_THRESHOLD = 128;
     private static final long DO_NOT_POOL = -1;
     /* max size */
     private static final int MAX_SIZE = 32 * 1024;
@@ -114,7 +114,7 @@ public static long addString(String s) {
         if (lsid != null) {
             return ensureCurrentGeneration(s, lsid);
         }
-        if (!preCache(s)) {
+        if (s.length() <= PRECACHE_THRESHOLD && !preCache(s)) {
             /* we should not pool this string */
             return DO_NOT_POOL;
         }
diff --git a/test/jdk/jdk/jfr/jvm/TestLongStringsInPool.java b/test/jdk/jdk/jfr/jvm/TestLongStringsInPool.java
new file mode 100644
index 00000000000..8ce3fd3859f
--- /dev/null
+++ b/test/jdk/jdk/jfr/jvm/TestLongStringsInPool.java
@@ -0,0 +1,116 @@
+/*
+ * Copyright (c) 2024, Oracle and/or its affiliates. All rights reserved.
+ * DO NOT ALTER OR REMOVE COPYRIGHT NOTICES OR THIS FILE HEADER.
+ *
+ * This code is free software; you can redistribute it and/or modify it
+ * under the terms of the GNU General Public License version 2 only, as
+ * published by the Free Software Foundation.
+ *
+ * This code is distributed in the hope that it will be useful, but WITHOUT
+ * ANY WARRANTY; without even the implied warranty of MERCHANTABILITY or
+ * FITNESS FOR A PARTICULAR PURPOSE.  See the GNU General Public License
+ * version 2 for more details (a copy is included in the LICENSE file that
+ * accompanied this code).
+ *
+ * You should have received a copy of the GNU General Public License version
+ * 2 along with this work; if not, write to the Free Software Foundation,
+ * Inc., 51 Franklin St, Fifth Floor, Boston, MA 02110-1301 USA.
+ *
+ * Please contact Oracle, 500 Oracle Parkway, Redwood Shores, CA 94065 USA
+ * or visit www.oracle.com if you need additional information or have any
+ * questions.
+ */
+
+package jdk.jfr.jvm;
+
+import java.nio.file.Files;
+import java.nio.file.Path;
+import java.nio.file.Paths;
+
+import jdk.jfr.Event;
+import jdk.jfr.Recording;
+import jdk.jfr.consumer.RecordingFile;
+import jdk.test.lib.Asserts;
+import jdk.test.lib.jfr.EventNames;
+
+/**
+ * @test
+ * @summary Verify that duplicate longer strings doesn't take up unneccessary space
+ * @key jfr
+ * @requires vm.hasJFR
+ * @library /test/lib
+ * @run main/othervm jdk.jfr.jvm.TestLongStringsInPool
+ */
+public class TestLongStringsInPool {
+    private static class StringEvent extends Event {
+        String message;
+    }
+
+    public static void main(String[] args) throws Exception {
+        // Create two recordings; first has only one large
+        // string, second has several occurences of the same
+        // string. With long strings (>128 chars) being pooled,
+        // the two recording should be roughly the same size.
+        final int numEvents = 10;
+        final String longString = generateString();
+        final int strLen = longString.length();
+        final StringEvent event = new StringEvent();
+        event.message = longString;
+
+        Recording firstRec = new Recording();
+        firstRec.start();
+        // commit events with empty message (both recordings
+        // will have the same number of events)
+        for (int i = 0; i < numEvents - 1; i++) {
+            event.message = "";
+            event.commit();
+        }
+        // commit 1 event with a long string
+        event.message = longString;
+        event.commit();
+
+        firstRec.stop();
+        Path rec1 = Paths.get(".", "rec1.jfr");
+        firstRec.dump(rec1);
+        firstRec.close();
+
+
+        Recording secondRec = new Recording();
+        secondRec.start();
+        // commit events with the same long string
+        for (int i = 0; i < numEvents - 1; i++) {
+          event.message = longString;
+          event.commit();
+        }
+        // commit 1 event with a long string
+        event.message = longString;
+        event.commit();
+
+        secondRec.stop();
+        Path rec2 = Paths.get(".", "rec2.jfr");
+        secondRec.dump(rec2);
+        secondRec.close();
+
+        // the files aren't exactly the same size, but rec2 should
+        // not take up space for all strings if they're pooled correctly
+        long maxAllowedDiff = (numEvents - 1) * strLen;
+        long diff = Math.abs(Files.size(rec2) - Files.size(rec1));
+
+        Asserts.assertTrue(diff <= maxAllowedDiff, "Size difference between recordings is too large: "+ diff +" > " + maxAllowedDiff);
+        Asserts.assertFalse(RecordingFile.readAllEvents(rec1).isEmpty(), "No events found in recording 1");
+        Asserts.assertFalse(RecordingFile.readAllEvents(rec2).isEmpty(), "No events found in recording 2");
+        Asserts.assertEquals(RecordingFile.readAllEvents(rec1).size(), RecordingFile.readAllEvents(rec2).size(), "The recordings don't have the same number of events");
+    }
+
+    /**
+     * Generate a string of 256 chars length.
+     * @return
+     */
+    private static String generateString() {
+        final StringBuilder builder = new StringBuilder();
+        for (int i = 0; i < 32; i++) {
+            builder.append("abcdefgh");
+        }
+        return builder.toString();
+    }
+}