diff --git a/refs.c b/refs.c
index cd36b64ed93f821936fd7ffb68e60ce384119898..81b64b4ed51d58603598f719097eba9c4ef17ab4 100644
--- a/refs.c
+++ b/refs.c
@@ -3,6 +3,7 @@
  */
 
 #include "cache.h"
+#include "hashmap.h"
 #include "lockfile.h"
 #include "refs.h"
 #include "refs/refs-internal.h"
@@ -1234,10 +1235,10 @@ int for_each_rawref(each_ref_fn fn, void *cb_data)
 }
 
 /* This function needs to return a meaningful errno on failure */
-static const char *resolve_ref_recursively(struct ref_store *refs,
-					   const char *refname,
-					   int resolve_flags,
-					   unsigned char *sha1, int *flags)
+const char *resolve_ref_recursively(struct ref_store *refs,
+				    const char *refname,
+				    int resolve_flags,
+				    unsigned char *sha1, int *flags)
 {
 	static struct strbuf sb_refname = STRBUF_INIT;
 	int unused_flags;
@@ -1357,62 +1358,102 @@ int resolve_gitlink_ref(const char *submodule, const char *refname,
 	return 0;
 }
 
+struct submodule_hash_entry
+{
+	struct hashmap_entry ent; /* must be the first member! */
+
+	struct ref_store *refs;
+
+	/* NUL-terminated name of submodule: */
+	char submodule[FLEX_ARRAY];
+};
+
+static int submodule_hash_cmp(const void *entry, const void *entry_or_key,
+			      const void *keydata)
+{
+	const struct submodule_hash_entry *e1 = entry, *e2 = entry_or_key;
+	const char *submodule = keydata ? keydata : e2->submodule;
+
+	return strcmp(e1->submodule, submodule);
+}
+
+static struct submodule_hash_entry *alloc_submodule_hash_entry(
+		const char *submodule, struct ref_store *refs)
+{
+	struct submodule_hash_entry *entry;
+
+	FLEX_ALLOC_STR(entry, submodule, submodule);
+	hashmap_entry_init(entry, strhash(submodule));
+	entry->refs = refs;
+	return entry;
+}
+
 /* A pointer to the ref_store for the main repository: */
 static struct ref_store *main_ref_store;
 
-/* A linked list of ref_stores for submodules: */
-static struct ref_store *submodule_ref_stores;
+/* A hashmap of ref_stores, stored by submodule name: */
+static struct hashmap submodule_ref_stores;
 
-void base_ref_store_init(struct ref_store *refs,
-			 const struct ref_storage_be *be,
-			 const char *submodule)
+/*
+ * Return the ref_store instance for the specified submodule (or the
+ * main repository if submodule is NULL). If that ref_store hasn't
+ * been initialized yet, return NULL.
+ */
+static struct ref_store *lookup_ref_store(const char *submodule)
+{
+	struct submodule_hash_entry *entry;
+
+	if (!submodule)
+		return main_ref_store;
+
+	if (!submodule_ref_stores.tablesize)
+		/* It's initialized on demand in register_ref_store(). */
+		return NULL;
+
+	entry = hashmap_get_from_hash(&submodule_ref_stores,
+				      strhash(submodule), submodule);
+	return entry ? entry->refs : NULL;
+}
+
+/*
+ * Register the specified ref_store to be the one that should be used
+ * for submodule (or the main repository if submodule is NULL). It is
+ * a fatal error to call this function twice for the same submodule.
+ */
+static void register_ref_store(struct ref_store *refs, const char *submodule)
 {
-	refs->be = be;
 	if (!submodule) {
 		if (main_ref_store)
 			die("BUG: main_ref_store initialized twice");
 
-		refs->submodule = "";
-		refs->next = NULL;
 		main_ref_store = refs;
 	} else {
-		if (lookup_ref_store(submodule))
+		if (!submodule_ref_stores.tablesize)
+			hashmap_init(&submodule_ref_stores, submodule_hash_cmp, 0);
+
+		if (hashmap_put(&submodule_ref_stores,
+				alloc_submodule_hash_entry(submodule, refs)))
 			die("BUG: ref_store for submodule '%s' initialized twice",
 			    submodule);
-
-		refs->submodule = xstrdup(submodule);
-		refs->next = submodule_ref_stores;
-		submodule_ref_stores = refs;
 	}
 }
 
-struct ref_store *ref_store_init(const char *submodule)
+/*
+ * Create, record, and return a ref_store instance for the specified
+ * submodule (or the main repository if submodule is NULL).
+ */
+static struct ref_store *ref_store_init(const char *submodule)
 {
 	const char *be_name = "files";
 	struct ref_storage_be *be = find_ref_storage_backend(be_name);
+	struct ref_store *refs;
 
 	if (!be)
 		die("BUG: reference backend %s is unknown", be_name);
 
-	if (!submodule || !*submodule)
-		return be->init(NULL);
-	else
-		return be->init(submodule);
-}
-
-struct ref_store *lookup_ref_store(const char *submodule)
-{
-	struct ref_store *refs;
-
-	if (!submodule || !*submodule)
-		return main_ref_store;
-
-	for (refs = submodule_ref_stores; refs; refs = refs->next) {
-		if (!strcmp(submodule, refs->submodule))
-			return refs;
-	}
-
-	return NULL;
+	refs = be->init(submodule);
+	register_ref_store(refs, submodule);
+	return refs;
 }
 
 struct ref_store *get_ref_store(const char *submodule)
@@ -1440,10 +1481,10 @@ struct ref_store *get_ref_store(const char *submodule)
 	return refs;
 }
 
-void assert_main_repository(struct ref_store *refs, const char *caller)
+void base_ref_store_init(struct ref_store *refs,
+			 const struct ref_storage_be *be)
 {
-	if (*refs->submodule)
-		die("BUG: %s called for a submodule", caller);
+	refs->be = be;
 }
 
 /* backend functions */
diff --git a/refs/files-backend.c b/refs/files-backend.c
index 21e116d4e620b9de77def18bf89054399477cf62..db3bd42a91d1935471a93e3149165705ec55f8ec 100644
--- a/refs/files-backend.c
+++ b/refs/files-backend.c
@@ -912,6 +912,14 @@ struct packed_ref_cache {
  */
 struct files_ref_store {
 	struct ref_store base;
+
+	/*
+	 * The name of the submodule represented by this object, or
+	 * NULL if it represents the main repository's reference
+	 * store:
+	 */
+	const char *submodule;
+
 	struct ref_entry *loose;
 	struct packed_ref_cache *packed;
 };
@@ -972,11 +980,24 @@ static struct ref_store *files_ref_store_create(const char *submodule)
 	struct files_ref_store *refs = xcalloc(1, sizeof(*refs));
 	struct ref_store *ref_store = (struct ref_store *)refs;
 
-	base_ref_store_init(ref_store, &refs_be_files, submodule);
+	base_ref_store_init(ref_store, &refs_be_files);
+
+	refs->submodule = xstrdup_or_null(submodule);
 
 	return ref_store;
 }
 
+/*
+ * Die if refs is for a submodule (i.e., not for the main repository).
+ * caller is used in any necessary error messages.
+ */
+static void files_assert_main_repository(struct files_ref_store *refs,
+					 const char *caller)
+{
+	if (refs->submodule)
+		die("BUG: %s called for a submodule", caller);
+}
+
 /*
  * Downcast ref_store to files_ref_store. Die if ref_store is not a
  * files_ref_store. If submodule_allowed is not true, then also die if
@@ -987,14 +1008,18 @@ static struct files_ref_store *files_downcast(
 		struct ref_store *ref_store, int submodule_allowed,
 		const char *caller)
 {
+	struct files_ref_store *refs;
+
 	if (ref_store->be != &refs_be_files)
 		die("BUG: ref_store is type \"%s\" not \"files\" in %s",
 		    ref_store->be->name, caller);
 
+	refs = (struct files_ref_store *)ref_store;
+
 	if (!submodule_allowed)
-		assert_main_repository(ref_store, caller);
+		files_assert_main_repository(refs, caller);
 
-	return (struct files_ref_store *)ref_store;
+	return refs;
 }
 
 /* The length of a peeled reference line in packed-refs, including EOL: */
@@ -1133,8 +1158,8 @@ static struct packed_ref_cache *get_packed_ref_cache(struct files_ref_store *ref
 {
 	char *packed_refs_file;
 
-	if (*refs->base.submodule)
-		packed_refs_file = git_pathdup_submodule(refs->base.submodule,
+	if (refs->submodule)
+		packed_refs_file = git_pathdup_submodule(refs->submodule,
 							 "packed-refs");
 	else
 		packed_refs_file = git_pathdup("packed-refs");
@@ -1203,8 +1228,8 @@ static void read_loose_refs(const char *dirname, struct ref_dir *dir)
 	size_t path_baselen;
 	int err = 0;
 
-	if (*refs->base.submodule)
-		err = strbuf_git_path_submodule(&path, refs->base.submodule, "%s", dirname);
+	if (refs->submodule)
+		err = strbuf_git_path_submodule(&path, refs->submodule, "%s", dirname);
 	else
 		strbuf_git_path(&path, "%s", dirname);
 	path_baselen = path.len;
@@ -1242,20 +1267,10 @@ static void read_loose_refs(const char *dirname, struct ref_dir *dir)
 					 create_dir_entry(refs, refname.buf,
 							  refname.len, 1));
 		} else {
-			int read_ok;
-
-			if (*refs->base.submodule) {
-				hashclr(sha1);
-				flag = 0;
-				read_ok = !resolve_gitlink_ref(refs->base.submodule,
-							       refname.buf, sha1);
-			} else {
-				read_ok = !read_ref_full(refname.buf,
-							 RESOLVE_REF_READING,
-							 sha1, &flag);
-			}
-
-			if (!read_ok) {
+			if (!resolve_ref_recursively(&refs->base,
+						     refname.buf,
+						     RESOLVE_REF_READING,
+						     sha1, &flag)) {
 				hashclr(sha1);
 				flag |= REF_ISBROKEN;
 			} else if (is_null_sha1(sha1)) {
@@ -1358,8 +1373,8 @@ static int files_read_raw_ref(struct ref_store *ref_store,
 	*type = 0;
 	strbuf_reset(&sb_path);
 
-	if (*refs->base.submodule)
-		strbuf_git_path_submodule(&sb_path, refs->base.submodule, "%s", refname);
+	if (refs->submodule)
+		strbuf_git_path_submodule(&sb_path, refs->submodule, "%s", refname);
 	else
 		strbuf_git_path(&sb_path, "%s", refname);
 
@@ -1540,7 +1555,7 @@ static int lock_raw_ref(struct files_ref_store *refs,
 	int ret = TRANSACTION_GENERIC_ERROR;
 
 	assert(err);
-	assert_main_repository(&refs->base, "lock_raw_ref");
+	files_assert_main_repository(refs, "lock_raw_ref");
 
 	*type = 0;
 
@@ -2011,7 +2026,7 @@ static struct ref_lock *lock_ref_sha1_basic(struct files_ref_store *refs,
 	int resolve_flags = RESOLVE_REF_NO_RECURSE;
 	int resolved;
 
-	assert_main_repository(&refs->base, "lock_ref_sha1_basic");
+	files_assert_main_repository(refs, "lock_ref_sha1_basic");
 	assert(err);
 
 	lock = xcalloc(1, sizeof(struct ref_lock));
@@ -2134,7 +2149,7 @@ static int lock_packed_refs(struct files_ref_store *refs, int flags)
 	static int timeout_value = 1000;
 	struct packed_ref_cache *packed_ref_cache;
 
-	assert_main_repository(&refs->base, "lock_packed_refs");
+	files_assert_main_repository(refs, "lock_packed_refs");
 
 	if (!timeout_configured) {
 		git_config_get_int("core.packedrefstimeout", &timeout_value);
@@ -2172,7 +2187,7 @@ static int commit_packed_refs(struct files_ref_store *refs)
 	int save_errno = 0;
 	FILE *out;
 
-	assert_main_repository(&refs->base, "commit_packed_refs");
+	files_assert_main_repository(refs, "commit_packed_refs");
 
 	if (!packed_ref_cache->lock)
 		die("internal error: packed-refs not locked");
@@ -2205,7 +2220,7 @@ static void rollback_packed_refs(struct files_ref_store *refs)
 	struct packed_ref_cache *packed_ref_cache =
 		get_packed_ref_cache(refs);
 
-	assert_main_repository(&refs->base, "rollback_packed_refs");
+	files_assert_main_repository(refs, "rollback_packed_refs");
 
 	if (!packed_ref_cache->lock)
 		die("internal error: packed-refs not locked");
@@ -2392,7 +2407,7 @@ static int repack_without_refs(struct files_ref_store *refs,
 	struct string_list_item *refname;
 	int ret, needs_repacking = 0, removed = 0;
 
-	assert_main_repository(&refs->base, "repack_without_refs");
+	files_assert_main_repository(refs, "repack_without_refs");
 	assert(err);
 
 	/* Look for a packed ref */
@@ -2902,7 +2917,7 @@ static int commit_ref_update(struct files_ref_store *refs,
 			     const unsigned char *sha1, const char *logmsg,
 			     struct strbuf *err)
 {
-	assert_main_repository(&refs->base, "commit_ref_update");
+	files_assert_main_repository(refs, "commit_ref_update");
 
 	clear_loose_ref_cache(refs);
 	if (files_log_ref_write(lock->ref_name, lock->old_oid.hash, sha1,
@@ -3534,7 +3549,7 @@ static int lock_ref_for_update(struct files_ref_store *refs,
 	int ret;
 	struct ref_lock *lock;
 
-	assert_main_repository(&refs->base, "lock_ref_for_update");
+	files_assert_main_repository(refs, "lock_ref_for_update");
 
 	if ((update->flags & REF_HAVE_NEW) && is_null_sha1(update->new_sha1))
 		update->flags |= REF_DELETING;
diff --git a/refs/refs-internal.h b/refs/refs-internal.h
index 611ab5b1d1ca250fca54749119489dbaba6dcc22..fa93c9a32ec4c52b9cd6597b9c2ebb4b4501206b 100644
--- a/refs/refs-internal.h
+++ b/refs/refs-internal.h
@@ -635,47 +635,14 @@ extern struct ref_storage_be refs_be_files;
 struct ref_store {
 	/* The backend describing this ref_store's storage scheme: */
 	const struct ref_storage_be *be;
-
-	/*
-	 * The name of the submodule represented by this object, or
-	 * the empty string if it represents the main repository's
-	 * reference store:
-	 */
-	const char *submodule;
-
-	/*
-	 * Submodule reference store instances are stored in a linked
-	 * list using this pointer.
-	 */
-	struct ref_store *next;
 };
 
 /*
- * Fill in the generic part of refs for the specified submodule and
- * add it to our collection of reference stores.
+ * Fill in the generic part of refs and add it to our collection of
+ * reference stores.
  */
 void base_ref_store_init(struct ref_store *refs,
-			 const struct ref_storage_be *be,
-			 const char *submodule);
-
-/*
- * Create, record, and return a ref_store instance for the specified
- * submodule (or the main repository if submodule is NULL).
- *
- * For backwards compatibility, submodule=="" is treated the same as
- * submodule==NULL.
- */
-struct ref_store *ref_store_init(const char *submodule);
-
-/*
- * Return the ref_store instance for the specified submodule (or the
- * main repository if submodule is NULL). If that ref_store hasn't
- * been initialized yet, return NULL.
- *
- * For backwards compatibility, submodule=="" is treated the same as
- * submodule==NULL.
- */
-struct ref_store *lookup_ref_store(const char *submodule);
+			 const struct ref_storage_be *be);
 
 /*
  * Return the ref_store instance for the specified submodule. For the
@@ -689,10 +656,9 @@ struct ref_store *lookup_ref_store(const char *submodule);
  */
 struct ref_store *get_ref_store(const char *submodule);
 
-/*
- * Die if refs is for a submodule (i.e., not for the main repository).
- * caller is used in any necessary error messages.
- */
-void assert_main_repository(struct ref_store *refs, const char *caller);
+const char *resolve_ref_recursively(struct ref_store *refs,
+				    const char *refname,
+				    int resolve_flags,
+				    unsigned char *sha1, int *flags);
 
 #endif /* REFS_REFS_INTERNAL_H */