diff --git a/stake-pool/cli/src/main.rs b/stake-pool/cli/src/main.rs
index 60ab61c6b2e..bb20ffde8ed 100644
--- a/stake-pool/cli/src/main.rs
+++ b/stake-pool/cli/src/main.rs
@@ -430,7 +430,7 @@ fn command_vsa_add(
     }
 
     if !config.no_update {
-        command_update(config, stake_pool_address, false, false)?;
+        command_update(config, stake_pool_address, false, false, false)?;
     }
 
     // iterate until a free account is found
@@ -488,7 +488,7 @@ fn command_vsa_remove(
     vote_account: &Pubkey,
 ) -> CommandResult {
     if !config.no_update {
-        command_update(config, stake_pool_address, false, false)?;
+        command_update(config, stake_pool_address, false, false, false)?;
     }
 
     let stake_pool = get_stake_pool(&config.rpc_client, stake_pool_address)?;
@@ -535,7 +535,7 @@ fn command_increase_validator_stake(
 ) -> CommandResult {
     let lamports = native_token::sol_to_lamports(amount);
     if !config.no_update {
-        command_update(config, stake_pool_address, false, false)?;
+        command_update(config, stake_pool_address, false, false, false)?;
     }
 
     let stake_pool = get_stake_pool(&config.rpc_client, stake_pool_address)?;
@@ -574,7 +574,7 @@ fn command_decrease_validator_stake(
 ) -> CommandResult {
     let lamports = native_token::sol_to_lamports(amount);
     if !config.no_update {
-        command_update(config, stake_pool_address, false, false)?;
+        command_update(config, stake_pool_address, false, false, false)?;
     }
 
     let stake_pool = get_stake_pool(&config.rpc_client, stake_pool_address)?;
@@ -671,7 +671,7 @@ fn command_deposit_stake(
     referrer_token_account: &Option<Pubkey>,
 ) -> CommandResult {
     if !config.no_update {
-        command_update(config, stake_pool_address, false, false)?;
+        command_update(config, stake_pool_address, false, false, false)?;
     }
 
     let stake_pool = get_stake_pool(&config.rpc_client, stake_pool_address)?;
@@ -802,7 +802,7 @@ fn command_deposit_all_stake(
     referrer_token_account: &Option<Pubkey>,
 ) -> CommandResult {
     if !config.no_update {
-        command_update(config, stake_pool_address, false, false)?;
+        command_update(config, stake_pool_address, false, false, false)?;
     }
 
     let stake_addresses = get_all_stake(&config.rpc_client, stake_authority)?;
@@ -945,7 +945,7 @@ fn command_deposit_sol(
     amount: f64,
 ) -> CommandResult {
     if !config.no_update {
-        command_update(config, stake_pool_address, false, false)?;
+        command_update(config, stake_pool_address, false, false, false)?;
     }
 
     let amount = native_token::sol_to_lamports(amount);
@@ -1139,6 +1139,7 @@ fn command_update(
     stake_pool_address: &Pubkey,
     force: bool,
     no_merge: bool,
+    stale_only: bool,
 ) -> CommandResult {
     if config.no_update {
         println!("Update requested, but --no-update flag specified, so doing nothing");
@@ -1158,14 +1159,24 @@ fn command_update(
 
     let validator_list = get_validator_list(&config.rpc_client, &stake_pool.validator_list)?;
 
-    let (mut update_list_instructions, final_instructions) =
+    let (mut update_list_instructions, final_instructions) = if stale_only {
+        spl_stake_pool::instruction::update_stale_stake_pool(
+            &spl_stake_pool::id(),
+            &stake_pool,
+            &validator_list,
+            stake_pool_address,
+            no_merge,
+            epoch_info.epoch,
+        )
+    } else {
         spl_stake_pool::instruction::update_stake_pool(
             &spl_stake_pool::id(),
             &stake_pool,
             &validator_list,
             stake_pool_address,
             no_merge,
-        );
+        )
+    };
 
     let update_list_instructions_len = update_list_instructions.len();
     if update_list_instructions_len > 0 {
@@ -1360,7 +1371,7 @@ fn command_withdraw_stake(
     pool_amount: f64,
 ) -> CommandResult {
     if !config.no_update {
-        command_update(config, stake_pool_address, false, false)?;
+        command_update(config, stake_pool_address, false, false, false)?;
     }
 
     let stake_pool = get_stake_pool(&config.rpc_client, stake_pool_address)?;
@@ -1631,7 +1642,7 @@ fn command_withdraw_sol(
     pool_amount: f64,
 ) -> CommandResult {
     if !config.no_update {
-        command_update(config, stake_pool_address, false, false)?;
+        command_update(config, stake_pool_address, false, false, false)?;
     }
 
     let stake_pool = get_stake_pool(&config.rpc_client, stake_pool_address)?;
@@ -1748,7 +1759,7 @@ fn command_set_manager(
     new_fee_receiver: &Option<Pubkey>,
 ) -> CommandResult {
     if !config.no_update {
-        command_update(config, stake_pool_address, false, false)?;
+        command_update(config, stake_pool_address, false, false, false)?;
     }
     let stake_pool = get_stake_pool(&config.rpc_client, stake_pool_address)?;
 
@@ -1800,7 +1811,7 @@ fn command_set_staker(
     new_staker: &Pubkey,
 ) -> CommandResult {
     if !config.no_update {
-        command_update(config, stake_pool_address, false, false)?;
+        command_update(config, stake_pool_address, false, false, false)?;
     }
     let mut signers = vec![config.fee_payer.as_ref(), config.manager.as_ref()];
     unique_signers!(signers);
@@ -1825,7 +1836,7 @@ fn command_set_funding_authority(
     funding_type: FundingType,
 ) -> CommandResult {
     if !config.no_update {
-        command_update(config, stake_pool_address, false, false)?;
+        command_update(config, stake_pool_address, false, false, false)?;
     }
     let mut signers = vec![config.fee_payer.as_ref(), config.manager.as_ref()];
     unique_signers!(signers);
@@ -1850,7 +1861,7 @@ fn command_set_fee(
     new_fee: FeeType,
 ) -> CommandResult {
     if !config.no_update {
-        command_update(config, stake_pool_address, false, false)?;
+        command_update(config, stake_pool_address, false, false, false)?;
     }
     let mut signers = vec![config.fee_payer.as_ref(), config.manager.as_ref()];
     unique_signers!(signers);
@@ -2418,7 +2429,7 @@ fn main() {
                 Arg::with_name("force")
                     .long("force")
                     .takes_value(false)
-                    .help("Update all balances, even if it has already been performed this epoch."),
+                    .help("Update balances, even if it has already been performed this epoch."),
             )
             .arg(
                 Arg::with_name("no_merge")
@@ -2426,6 +2437,12 @@ fn main() {
                     .takes_value(false)
                     .help("Do not automatically merge transient stakes. Useful if the stake pool is in an expected state, but the balances still need to be updated."),
             )
+            .arg(
+                Arg::with_name("stale_only")
+                    .long("stale-only")
+                    .takes_value(false)
+                    .help("If set, only updates validator list balances that have not been updated for this epoch. Otherwise, updates all validator balances on the validator list."),
+            )
         )
         .subcommand(SubCommand::with_name("withdraw-stake")
             .about("Withdraw active stake from the stake pool in exchange for pool tokens")
@@ -2903,7 +2920,8 @@ fn main() {
             let stake_pool_address = pubkey_of(arg_matches, "pool").unwrap();
             let no_merge = arg_matches.is_present("no_merge");
             let force = arg_matches.is_present("force");
-            command_update(&config, &stake_pool_address, force, no_merge)
+            let stale_only = arg_matches.is_present("stale_only");
+            command_update(&config, &stake_pool_address, force, no_merge, stale_only)
         }
         ("withdraw-stake", Some(arg_matches)) => {
             let stake_pool_address = pubkey_of(arg_matches, "pool").unwrap();
diff --git a/stake-pool/program/src/instruction.rs b/stake-pool/program/src/instruction.rs
index 68b0946999c..4b8afd8e17b 100644
--- a/stake-pool/program/src/instruction.rs
+++ b/stake-pool/program/src/instruction.rs
@@ -16,7 +16,9 @@ use {
         instruction::{AccountMeta, Instruction},
         program_error::ProgramError,
         pubkey::Pubkey,
-        stake, system_program, sysvar,
+        stake,
+        stake_history::Epoch,
+        system_program, sysvar,
     },
     std::num::NonZeroU32,
 };
@@ -1496,6 +1498,47 @@ pub fn update_validator_list_balance_chunk(
     })
 }
 
+/// Creates `UpdateValidatorListBalance` instruction (update validator stake
+/// account balances)
+///
+/// Returns `None` if all validators in the given chunk has already been updated
+/// for this epoch, returns the required instruction otherwise.
+pub fn update_stale_validator_list_balance_chunk(
+    program_id: &Pubkey,
+    stake_pool: &Pubkey,
+    stake_pool_withdraw_authority: &Pubkey,
+    validator_list_address: &Pubkey,
+    reserve_stake: &Pubkey,
+    validator_list: &ValidatorList,
+    len: usize,
+    start_index: usize,
+    no_merge: bool,
+    current_epoch: Epoch,
+) -> Result<Option<Instruction>, ProgramError> {
+    let validator_list_subslice = validator_list
+        .validators
+        .get(start_index..start_index.saturating_add(len))
+        .ok_or(ProgramError::InvalidInstructionData)?;
+    if validator_list_subslice.iter().all(|info| {
+        let last_update_epoch: u64 = info.last_update_epoch.into();
+        last_update_epoch >= current_epoch
+    }) {
+        return Ok(None);
+    }
+    update_validator_list_balance_chunk(
+        program_id,
+        stake_pool,
+        stake_pool_withdraw_authority,
+        validator_list_address,
+        reserve_stake,
+        validator_list,
+        len,
+        start_index,
+        no_merge,
+    )
+    .map(Some)
+}
+
 /// Creates `UpdateStakePoolBalance` instruction (pool balance from the stake
 /// account list balances)
 pub fn update_stake_pool_balance(
@@ -1599,6 +1642,65 @@ pub fn update_stake_pool(
     (update_list_instructions, final_instructions)
 }
 
+/// Creates the `UpdateValidatorListBalance` instructions only for validators on
+/// `validator_list` that have not been updated for this epoch, and the
+/// `UpdateStakePoolBalance` instruction for fully updating the stake pool.
+///
+/// Basically same as [`update_stake_pool`], but skips validators that are
+/// already updated for this epoch
+pub fn update_stale_stake_pool(
+    program_id: &Pubkey,
+    stake_pool: &StakePool,
+    validator_list: &ValidatorList,
+    stake_pool_address: &Pubkey,
+    no_merge: bool,
+    current_epoch: Epoch,
+) -> (Vec<Instruction>, Vec<Instruction>) {
+    let (withdraw_authority, _) =
+        find_withdraw_authority_program_address(program_id, stake_pool_address);
+
+    let update_list_instructions = validator_list
+        .validators
+        .chunks(MAX_VALIDATORS_TO_UPDATE)
+        .enumerate()
+        .filter_map(|(i, chunk)| {
+            // unwrap-safety: chunk len and offset are derived
+            update_stale_validator_list_balance_chunk(
+                program_id,
+                stake_pool_address,
+                &withdraw_authority,
+                &stake_pool.validator_list,
+                &stake_pool.reserve_stake,
+                validator_list,
+                chunk.len(),
+                i.saturating_mul(MAX_VALIDATORS_TO_UPDATE),
+                no_merge,
+                current_epoch,
+            )
+            .unwrap()
+        })
+        .collect();
+
+    let final_instructions = vec![
+        update_stake_pool_balance(
+            program_id,
+            stake_pool_address,
+            &withdraw_authority,
+            &stake_pool.validator_list,
+            &stake_pool.reserve_stake,
+            &stake_pool.manager_fee_account,
+            &stake_pool.pool_mint,
+            &stake_pool.token_program_id,
+        ),
+        cleanup_removed_validator_entries(
+            program_id,
+            stake_pool_address,
+            &stake_pool.validator_list,
+        ),
+    ];
+    (update_list_instructions, final_instructions)
+}
+
 fn deposit_stake_internal(
     program_id: &Pubkey,
     stake_pool: &Pubkey,