diff --git a/.changeset/perf-anchored-position-cache-scrollables.md b/.changeset/perf-anchored-position-cache-scrollables.md
new file mode 100644
index 00000000000..eb9feea9e44
--- /dev/null
+++ b/.changeset/perf-anchored-position-cache-scrollables.md
@@ -0,0 +1,5 @@
+---
+'@primer/react': patch
+---
+
+`useAnchoredPosition`: improve performance by caching the scrollable-ancestor walk per anchor, reducing repositioning work for overlays, menus, and tooltips.
diff --git a/packages/react/src/hooks/useAnchoredPosition.ts b/packages/react/src/hooks/useAnchoredPosition.ts
index 611d1b1e920..f25caf420ef 100644
--- a/packages/react/src/hooks/useAnchoredPosition.ts
+++ b/packages/react/src/hooks/useAnchoredPosition.ts
@@ -142,6 +142,17 @@ export function useAnchoredPosition(
   useResizeObserver(updatePosition, undefined, [], enabled) // watches for changes in window size
   useResizeObserver(updatePosition, floatingElementRef as React.RefObject<HTMLElement | null>, [], enabled) // watches for changes in floating element size
 
+  // Caches the scrollable-ancestor walk (which calls getComputedStyle on every
+  // ancestor) keyed by the anchor element, so the scroll-listener effect below can
+  // re-run on `updatePosition`/`enabled` changes without repeating the DOM walk when
+  // the anchor is unchanged (the common case). This assumes the anchor is not
+  // re-parented while it stays mounted — anchored overlays keep a stable anchor for
+  // their lifetime, so a moved-but-same-identity anchor is not a supported case.
+  const scrollAncestorsCacheRef = React.useRef<{anchor: Element | null; scrollables: Array<Element | Window>}>({
+    anchor: null,
+    scrollables: [],
+  })
+
   // Recalculate position when any scrollable ancestor of the anchor scrolls.
   // Uses requestAnimationFrame to avoid layout thrashing during scroll.
   React.useEffect(() => {
@@ -158,7 +169,19 @@ export function useAnchoredPosition(
       })
     }
 
-    const scrollables = getScrollableAncestors(anchorEl)
+    // The set of scrollable ancestors depends on the anchor element and its
+    // position in the DOM tree. Anchored overlays keep a stable, non-re-parented
+    // anchor while mounted, so keying the cache on anchor identity lets us reuse
+    // the walk when the anchor hasn't changed instead of re-running
+    // getComputedStyle up the whole ancestor chain on every effect re-run.
+    const cache = scrollAncestorsCacheRef.current
+    let scrollables: Array<Element | Window>
+    if (cache.anchor === anchorEl) {
+      scrollables = cache.scrollables
+    } else {
+      scrollables = getScrollableAncestors(anchorEl)
+      scrollAncestorsCacheRef.current = {anchor: anchorEl, scrollables}
+    }
     for (const scrollable of scrollables) {
       // eslint-disable-next-line github/prefer-observers -- IntersectionObserver cannot detect continuous scroll position changes needed for repositioning
       scrollable.addEventListener('scroll', handleScroll)