diff --git a/llvm/lib/Transforms/Instrumentation/MemProfiler.cpp b/llvm/lib/Transforms/Instrumentation/MemProfiler.cpp
index 2445ba7..c0a3bf8 100644
--- a/llvm/lib/Transforms/Instrumentation/MemProfiler.cpp
+++ b/llvm/lib/Transforms/Instrumentation/MemProfiler.cpp
@@ -140,6 +140,15 @@
 static cl::opt<int> ClDebugMax("memprof-debug-max", cl::desc("Debug max inst"),
                                cl::Hidden, cl::init(-1));
 
+// By default disable matching of allocation profiles onto operator new that
+// already explicitly pass a hot/cold hint, since we don't currently
+// override these hints anyway.
+static cl::opt<bool> ClMemProfMatchHotColdNew(
+    "memprof-match-hot-cold-new",
+    cl::desc(
+        "Match allocation profiles onto existing hot/cold operator new calls"),
+    cl::Hidden, cl::init(false));
+
 STATISTIC(NumInstrumentedReads, "Number of instrumented reads");
 STATISTIC(NumInstrumentedWrites, "Number of instrumented writes");
 STATISTIC(NumSkippedStackReads, "Number of non-instrumented stack reads");
@@ -661,6 +670,37 @@
   return InlCallStackIter == InlinedCallStack.end();
 }
 
+static bool isNewWithHotColdVariant(Function *Callee,
+                                    const TargetLibraryInfo &TLI) {
+  if (!Callee)
+    return false;
+  LibFunc Func;
+  if (!TLI.getLibFunc(*Callee, Func))
+    return false;
+  switch (Func) {
+  case LibFunc_Znwm:
+  case LibFunc_ZnwmRKSt9nothrow_t:
+  case LibFunc_ZnwmSt11align_val_t:
+  case LibFunc_ZnwmSt11align_val_tRKSt9nothrow_t:
+  case LibFunc_Znam:
+  case LibFunc_ZnamRKSt9nothrow_t:
+  case LibFunc_ZnamSt11align_val_t:
+  case LibFunc_ZnamSt11align_val_tRKSt9nothrow_t:
+    return true;
+  case LibFunc_Znwm12__hot_cold_t:
+  case LibFunc_ZnwmRKSt9nothrow_t12__hot_cold_t:
+  case LibFunc_ZnwmSt11align_val_t12__hot_cold_t:
+  case LibFunc_ZnwmSt11align_val_tRKSt9nothrow_t12__hot_cold_t:
+  case LibFunc_Znam12__hot_cold_t:
+  case LibFunc_ZnamRKSt9nothrow_t12__hot_cold_t:
+  case LibFunc_ZnamSt11align_val_t12__hot_cold_t:
+  case LibFunc_ZnamSt11align_val_tRKSt9nothrow_t12__hot_cold_t:
+    return ClMemProfMatchHotColdNew;
+  default:
+    return false;
+  }
+}
+
 static void readMemprof(Module &M, Function &F,
                         IndexedInstrProfReader *MemProfReader,
                         const TargetLibraryInfo &TLI) {
@@ -812,7 +852,7 @@
       if (AllocInfoIter != LocHashToAllocInfo.end()) {
         // Only consider allocations via new, to reduce unnecessary metadata,
         // since those are the only allocations that will be targeted initially.
-        if (!isNewLikeFn(CI, &TLI))
+        if (!isNewWithHotColdVariant(CI->getCalledFunction(), TLI))
           continue;
         // We may match this instruction's location list to multiple MIB
         // contexts. Add them to a Trie specialized for trimming the contexts to
diff --git a/llvm/test/Transforms/PGOProfile/memprof_match_hot_cold_new_calls.ll b/llvm/test/Transforms/PGOProfile/memprof_match_hot_cold_new_calls.ll
new file mode 100644
index 0000000..2fac931
--- /dev/null
+++ b/llvm/test/Transforms/PGOProfile/memprof_match_hot_cold_new_calls.ll
@@ -0,0 +1,63 @@
+;; Tests optional matching of memprof profile on call to operator new
+;; with manual hot/cold hint.
+
+;; Avoid failures on big-endian systems that can't read the profile properly
+; REQUIRES: x86_64-linux
+
+;; TODO: Use text profile inputs once that is available for memprof.
+;; This test uses the same raw profile used for memprof.ll, see instructions
+;; in that file for updating.
+
+;; Generate indexed profile
+; RUN: llvm-profdata merge %S/Inputs/memprof.memprofraw --profiled-binary %S/Inputs/memprof.exe -o %t.memprofdata
+
+;; By default we should not match profile on to manually hinted operator
+;; new calls, because we don't currently override the manual hints anyway.
+; RUN: opt < %s -passes='memprof-use<profile-filename=%t.memprofdata>' -S 2>&1 | FileCheck %s --implicit-check-not !memprof --implicit-check-not !callsite
+
+;; Check that we match profiles onto these manually hinted new calls
+;; under the -memprof-match-hot-cold-new=true option.
+; RUN: opt < %s -passes='memprof-use<profile-filename=%t.memprofdata>' -S -memprof-match-hot-cold-new=true 2>&1 | FileCheck %s --check-prefixes=MEMPROF
+
+; ModuleID = 'memprof_match_hot_cold_new_calls.cc'
+source_filename = "memprof_match_hot_cold_new_calls.cc"
+target datalayout = "e-m:e-p270:32:32-p271:32:32-p272:64:64-i64:64-f80:128-n8:16:32:64-S128"
+target triple = "x86_64-unknown-linux-gnu"
+
+%"struct.std::nothrow_t" = type { i8 }
+
+@_ZSt7nothrow = external global %"struct.std::nothrow_t", align 1
+
+define dso_local noundef ptr @_Z3foov() !dbg !10 {
+entry:
+  ; MEMPROF: call {{.*}} @_Znwm{{.*}} !memprof ![[M1:[0-9]+]], !callsite ![[C1:[0-9]+]]
+  %call = call noalias noundef align 32 ptr @_ZnwmSt11align_val_tRKSt9nothrow_t12__hot_cold_t(i64 noundef 32, i64 noundef 32, ptr noundef nonnull align 1 dereferenceable(1) @_ZSt7nothrow, i8 noundef zeroext 0), !dbg !13
+  ret ptr %call
+}
+
+declare noundef ptr @_ZnwmSt11align_val_tRKSt9nothrow_t12__hot_cold_t(i64 noundef, i64 noundef, ptr noundef nonnull align 1 dereferenceable(1), i8 noundef zeroext)
+
+; MEMPROF: ![[M1]] = !{![[MIB1:[0-9]+]], ![[MIB2:[0-9]+]], ![[MIB3:[0-9]+]], ![[MIB4:[0-9]+]], ![[MIB5:[0-9]+]]}
+; MEMPROF: ![[MIB1]] = !{![[STACK1:[0-9]+]], !"cold"}
+; MEMPROF: ![[STACK1]] = !{i64 2732490490862098848, i64 748269490701775343}
+; MEMPROF: ![[MIB2]] = !{![[STACK2:[0-9]+]], !"cold"}
+; MEMPROF: ![[STACK2]] = !{i64 2732490490862098848, i64 2104812325165620841, i64 6281715513834610934, i64 6281715513834610934, i64 6281715513834610934, i64 1544787832369987002}
+; MEMPROF: ![[MIB3]] = !{![[STACK3:[0-9]+]], !"notcold"}
+; MEMPROF: ![[STACK3]] = !{i64 2732490490862098848, i64 2104812325165620841, i64 6281715513834610934, i64 6281715513834610934, i64 6281715513834610934, i64 6281715513834610934}
+; MEMPROF: ![[MIB4]] = !{![[STACK4:[0-9]+]], !"cold"}
+; MEMPROF: ![[STACK4]] = !{i64 2732490490862098848, i64 8467819354083268568}
+; MEMPROF: ![[MIB5]] = !{![[STACK5:[0-9]+]], !"notcold"}
+; MEMPROF: ![[STACK5]] = !{i64 2732490490862098848, i64 8690657650969109624}
+; MEMPROF: ![[C1]] = !{i64 2732490490862098848}
+
+!llvm.dbg.cu = !{!0}
+!llvm.module.flags = !{!2, !3}
+
+!0 = distinct !DICompileUnit(language: DW_LANG_C_plus_plus_14, file: !1, producer: "clang version 15.0.0 (https://github.com/llvm/llvm-project.git 6cbe6284d1f0a088b5c6482ae27b738f03d82fe7)", isOptimized: false, runtimeVersion: 0, emissionKind: LineTablesOnly, splitDebugInlining: false, debugInfoForProfiling: true, nameTableKind: None)
+!1 = !DIFile(filename: "memprof.cc", directory: "/usr/local/google/home/tejohnson/llvm/tmp", checksumkind: CSK_MD5, checksum: "e8c40ebe4b21776b4d60e9632cbc13c2")
+!2 = !{i32 7, !"Dwarf Version", i32 5}
+!3 = !{i32 2, !"Debug Info Version", i32 3}
+!10 = distinct !DISubprogram(name: "foo", linkageName: "_Z3foov", scope: !1, file: !1, line: 4, type: !11, scopeLine: 4, flags: DIFlagPrototyped, spFlags: DISPFlagDefinition, unit: !0, retainedNodes: !12)
+!11 = !DISubroutineType(types: !12)
+!12 = !{}
+!13 = !DILocation(line: 5, column: 10, scope: !10)