diff --git a/java/google/registry/model/ofy/ObjectifyService.java b/java/google/registry/model/ofy/ObjectifyService.java
index 9319c6cb0..05aa4097a 100644
--- a/java/google/registry/model/ofy/ObjectifyService.java
+++ b/java/google/registry/model/ofy/ObjectifyService.java
@@ -24,6 +24,7 @@ import com.google.appengine.api.datastore.AsyncDatastoreService;
 import com.google.appengine.api.datastore.DatastoreServiceConfig;
 import com.google.appengine.api.datastore.DatastoreServiceFactory;
 import com.google.common.annotations.VisibleForTesting;
+import com.google.common.collect.ImmutableList;
 import com.google.common.collect.Iterables;
 import com.googlecode.objectify.Key;
 import com.googlecode.objectify.Objectify;
@@ -35,6 +36,7 @@ import com.googlecode.objectify.impl.translate.opt.joda.MoneyStringTranslatorFac
 import google.registry.config.RegistryEnvironment;
 import google.registry.model.EntityClasses;
 import google.registry.model.ImmutableObject;
+import google.registry.model.translators.BloomFilterOfStringTranslatorFactory;
 import google.registry.model.translators.CidrAddressBlockTranslatorFactory;
 import google.registry.model.translators.CommitLogRevisionsTranslatorFactory;
 import google.registry.model.translators.CreateAutoTimestampTranslatorFactory;
@@ -43,7 +45,6 @@ import google.registry.model.translators.DurationTranslatorFactory;
 import google.registry.model.translators.InetAddressTranslatorFactory;
 import google.registry.model.translators.ReadableInstantUtcTranslatorFactory;
 import google.registry.model.translators.UpdateAutoTimestampTranslatorFactory;
-import java.util.Arrays;
 import java.util.concurrent.atomic.AtomicLong;
 import java.util.logging.Level;
 
@@ -120,7 +121,8 @@ public class ObjectifyService {
 
   /** Register translators that allow less common types to be stored directly in Datastore. */
   private static void registerTranslators() {
-    for (TranslatorFactory<?> translatorFactory : Arrays.asList(
+    for (TranslatorFactory<?> translatorFactory : ImmutableList.of(
+        new BloomFilterOfStringTranslatorFactory(),
         new CidrAddressBlockTranslatorFactory(),
         new CommitLogRevisionsTranslatorFactory(),
         new CreateAutoTimestampTranslatorFactory(),
diff --git a/java/google/registry/model/registry/label/PremiumList.java b/java/google/registry/model/registry/label/PremiumList.java
index 262b795a7..3414337c6 100644
--- a/java/google/registry/model/registry/label/PremiumList.java
+++ b/java/google/registry/model/registry/label/PremiumList.java
@@ -19,6 +19,7 @@ import static com.google.common.base.Preconditions.checkArgument;
 import static com.google.common.base.Preconditions.checkNotNull;
 import static com.google.common.base.Preconditions.checkState;
 import static com.google.common.collect.Iterables.partition;
+import static com.google.common.hash.Funnels.unencodedCharsFunnel;
 import static google.registry.config.RegistryConfig.getDomainLabelListCacheDuration;
 import static google.registry.model.common.EntityGroupRoot.getCrossTldKey;
 import static google.registry.model.ofy.ObjectifyService.allocateId;
@@ -29,6 +30,7 @@ import static google.registry.util.CollectionUtils.nullToEmptyImmutableCopy;
 import static java.util.concurrent.TimeUnit.MILLISECONDS;
 
 import com.google.appengine.api.datastore.EntityNotFoundException;
+import com.google.common.annotations.VisibleForTesting;
 import com.google.common.base.Function;
 import com.google.common.base.Optional;
 import com.google.common.base.Splitter;
@@ -38,6 +40,7 @@ import com.google.common.cache.CacheLoader.InvalidCacheLoadException;
 import com.google.common.cache.LoadingCache;
 import com.google.common.collect.ImmutableMap;
 import com.google.common.collect.Maps;
+import com.google.common.hash.BloomFilter;
 import com.google.common.util.concurrent.UncheckedExecutionException;
 import com.googlecode.objectify.Key;
 import com.googlecode.objectify.VoidWork;
@@ -52,11 +55,13 @@ import com.googlecode.objectify.cmd.Query;
 import google.registry.model.Buildable;
 import google.registry.model.ImmutableObject;
 import google.registry.model.annotations.ReportedOn;
-import google.registry.model.annotations.VirtualEntity;
 import google.registry.model.registry.Registry;
+import java.io.ByteArrayOutputStream;
+import java.io.IOException;
 import java.util.List;
 import java.util.Map;
 import java.util.Objects;
+import java.util.Set;
 import java.util.concurrent.ExecutionException;
 import javax.annotation.Nullable;
 import org.joda.money.Money;
@@ -76,24 +81,65 @@ public final class PremiumList extends BaseDomainLabelList<Money, PremiumList.Pr
   /** Stores the revision key for the set of currently used premium list entry entities. */
   Key<PremiumListRevision> revisionKey;
 
+  /** The revision to be saved along with this entity. */
+  @Ignore
+  PremiumListRevision revision;
+
   @Ignore
   Map<String, PremiumListEntry> premiumListMap;
 
   /** Virtual parent entity for premium list entry entities associated with a single revision. */
+  @ReportedOn
   @Entity
-  @VirtualEntity
+  @Cache(expirationSeconds = RECOMMENDED_MEMCACHE_EXPIRATION)
   public static class PremiumListRevision extends ImmutableObject {
+
     @Parent
     Key<PremiumList> parent;
 
     @Id
     long revisionId;
 
-    static Key<PremiumListRevision> createKey(PremiumList parent) {
+    /**
+     * A bloom filter that is used to determine efficiently and quickly whether a label might be
+     * premium.
+     *
+     * <p>If the label might be premium, then the premium list entry must be loaded by key and
+     * checked for existence.  Otherwise, we know it's not premium, and no Datastore load is
+     * required.
+     */
+    BloomFilter<String> probablePremiumLabels;
+
+    /**
+     * The maximum size of the bloom filter.
+     *
+     * <p>Trying to set it any larger will throw an error, as we know it won't fit into a Datastore
+     * entity. We use 90% of the 1 MB Datastore limit to leave some wriggle room for the other
+     * fields and miscellaneous entity serialization overhead.
+     */
+    private static final int MAX_BLOOM_FILTER_BYTES = 900000;
+
+    /** Returns a new PremiumListRevision for the given key and premium list map. */
+    static PremiumListRevision create(PremiumList parent, Set<String> premiumLabels) {
       PremiumListRevision revision = new PremiumListRevision();
       revision.parent = Key.create(parent);
       revision.revisionId = allocateId();
-      return Key.create(revision);
+      // All premium list labels are already punycoded, so don't perform any further character
+      // encoding on them.
+      revision.probablePremiumLabels =
+          BloomFilter.create(unencodedCharsFunnel(), premiumLabels.size());
+      for (String label : premiumLabels) {
+        revision.probablePremiumLabels.put(label);
+      }
+      try {
+        ByteArrayOutputStream bos = new ByteArrayOutputStream();
+        revision.probablePremiumLabels.writeTo(bos);
+        checkArgument(bos.size() <= MAX_BLOOM_FILTER_BYTES,
+            "Too many premium labels were specified; bloom filter exceeds max entity size");
+      } catch (IOException e) {
+        throw new IllegalStateException("Could not serialize premium labels bloom filter", e);
+      }
+      return revision;
     }
   }
 
@@ -132,7 +178,12 @@ public final class PremiumList extends BaseDomainLabelList<Money, PremiumList.Pr
   }
 
   @OnLoad
-  private void loadPremiumListMap() {
+  private void onLoad() {
+    if (revisionKey != null) {
+      revision = ofy().load().key(revisionKey).now();
+    }
+
+    // TODO(b/32383610): Don't load up the premium list entries.
     try {
       ImmutableMap.Builder<String, PremiumListEntry> entriesMap = new ImmutableMap.Builder<>();
       if (revisionKey != null) {
@@ -159,10 +210,16 @@ public final class PremiumList extends BaseDomainLabelList<Money, PremiumList.Pr
     return nullToEmptyImmutableCopy(premiumListMap);
   }
 
+  @VisibleForTesting
   public Key<PremiumListRevision> getRevisionKey() {
     return revisionKey;
   }
 
+  @VisibleForTesting
+  public PremiumListRevision getRevision() {
+    return revision;
+  }
+
   /** Returns the PremiumList with the specified name. */
   public static Optional<PremiumList> get(String name) {
     try {
@@ -278,7 +335,8 @@ public final class PremiumList extends BaseDomainLabelList<Money, PremiumList.Pr
           }});
       }
     }
-    // Save the new PremiumList itself.
+
+    // Save the new PremiumList and revision itself.
     PremiumList updated = ofy().transactNew(new Work<PremiumList>() {
         @Override
         public PremiumList run() {
@@ -294,14 +352,14 @@ public final class PremiumList extends BaseDomainLabelList<Money, PremiumList.Pr
               .setCreationTime(
                   oldPremiumList.isPresent() ? oldPremiumList.get().creationTime : now)
               .build();
-          ofy().save().entity(newList);
+          ofy().save().entities(newList, revision);
           return newList;
         }});
     // Update the cache.
     PremiumList.cache.put(name, updated);
     // If needed and there are any, delete the entities under the old PremiumList.
     if (entriesToUpdate && oldPremiumList.isPresent()) {
-      oldPremiumList.get().deleteEntries();
+      oldPremiumList.get().deleteRevisionAndEntries();
     }
     return updated;
   }
@@ -318,11 +376,11 @@ public final class PremiumList extends BaseDomainLabelList<Money, PremiumList.Pr
       public void vrun() {
         ofy().delete().entity(PremiumList.this);
       }});
-    deleteEntries();
+    deleteRevisionAndEntries();
     cache.invalidate(name);
   }
 
-  private void deleteEntries() {
+  private void deleteRevisionAndEntries() {
     if (revisionKey == null) {
       return;
     }
@@ -335,6 +393,11 @@ public final class PremiumList extends BaseDomainLabelList<Money, PremiumList.Pr
           ofy().delete().keys(batch);
         }});
     }
+    ofy().transactNew(new VoidWork() {
+      @Override
+      public void vrun() {
+        ofy().delete().key(revisionKey);
+      }});
   }
 
   private Query<PremiumListEntry> loadEntriesForCurrentRevision() {
@@ -371,8 +434,9 @@ public final class PremiumList extends BaseDomainLabelList<Money, PremiumList.Pr
     @Override
     public PremiumList build() {
       final PremiumList instance = getInstance();
-      if (getInstance().revisionKey == null || entriesWereUpdated) {
-        getInstance().revisionKey = PremiumListRevision.createKey(instance);
+      if (instance.revisionKey == null || entriesWereUpdated) {
+        instance.revision = PremiumListRevision.create(instance, instance.premiumListMap.keySet());
+        instance.revisionKey = Key.create(instance.revision);
       }
       // When we build an instance, make sure all entries are parented on its revisionKey.
       instance.premiumListMap = Maps.transformValues(
diff --git a/java/google/registry/model/translators/BloomFilterOfStringTranslatorFactory.java b/java/google/registry/model/translators/BloomFilterOfStringTranslatorFactory.java
new file mode 100644
index 000000000..8266af428
--- /dev/null
+++ b/java/google/registry/model/translators/BloomFilterOfStringTranslatorFactory.java
@@ -0,0 +1,90 @@
+// Copyright 2017 The Nomulus Authors. All Rights Reserved.
+//
+// Licensed under the Apache License, Version 2.0 (the "License");
+// you may not use this file except in compliance with the License.
+// You may obtain a copy of the License at
+//
+//     http://www.apache.org/licenses/LICENSE-2.0
+//
+// Unless required by applicable law or agreed to in writing, software
+// distributed under the License is distributed on an "AS IS" BASIS,
+// WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+// See the License for the specific language governing permissions and
+// limitations under the License.
+
+package google.registry.model.translators;
+
+import static com.google.common.hash.Funnels.unencodedCharsFunnel;
+import static com.googlecode.objectify.repackaged.gentyref.GenericTypeReflector.erase;
+import static com.googlecode.objectify.repackaged.gentyref.GenericTypeReflector.getTypeParameter;
+
+import com.google.appengine.api.datastore.Blob;
+import com.google.common.hash.BloomFilter;
+import com.google.common.hash.Funnel;
+import com.google.common.reflect.TypeToken;
+import com.googlecode.objectify.impl.Path;
+import com.googlecode.objectify.impl.Property;
+import com.googlecode.objectify.impl.translate.CreateContext;
+import com.googlecode.objectify.impl.translate.LoadContext;
+import com.googlecode.objectify.impl.translate.SaveContext;
+import com.googlecode.objectify.impl.translate.Translator;
+import com.googlecode.objectify.impl.translate.TranslatorFactory;
+import com.googlecode.objectify.impl.translate.ValueTranslator;
+import java.io.ByteArrayInputStream;
+import java.io.ByteArrayOutputStream;
+import java.io.IOException;
+import java.lang.reflect.Type;
+import javax.annotation.Nullable;
+
+/** Stores CharSequence {@link BloomFilter}s as blobs. */
+public class BloomFilterOfStringTranslatorFactory
+    implements TranslatorFactory<BloomFilter<String>> {
+
+  @Override
+  public Translator<BloomFilter<String>> create(
+      Path path, Property property, Type type, CreateContext ctx) {
+    if (!BloomFilter.class.equals(erase(type))) {
+      return null;  // Skip me and try to find another matching translator
+    }
+    Type fieldBloomFilterType = getTypeParameter(type, BloomFilter.class.getTypeParameters()[0]);
+    if (fieldBloomFilterType == null) {
+      return null;  // No type information is available
+    }
+    if (!TypeToken.of(String.class).getType().equals(fieldBloomFilterType)) {
+      return null;  // We can only handle BloomFilters of CharSequences
+    }
+
+    return new ValueTranslator<BloomFilter<String>, Blob>(path, Blob.class) {
+
+      @Override
+      @Nullable
+      protected BloomFilter<String> loadValue(Blob value, LoadContext ctx) {
+        if (value == null) {
+          return null;
+        }
+        try {
+          @SuppressWarnings("unchecked")
+          Funnel<String> castedFunnel = (Funnel<String>) (Funnel<?>) unencodedCharsFunnel();
+          return BloomFilter.readFrom(new ByteArrayInputStream(value.getBytes()), castedFunnel);
+        } catch (IOException e) {
+          throw new IllegalStateException("Error loading bloom filter data", e);
+        }
+      }
+
+      @Override
+      @Nullable
+      protected Blob saveValue(BloomFilter<String> value, SaveContext ctx) {
+        if (value == null) {
+          return null;
+        }
+        ByteArrayOutputStream bos = new ByteArrayOutputStream();
+        try {
+          value.writeTo(bos);
+        } catch (IOException e) {
+          throw new IllegalStateException("Error saving bloom filter data", e);
+        }
+        return new Blob(bos.toByteArray());
+      }
+    };
+  }
+}
diff --git a/javatests/google/registry/export/backup_kinds.txt b/javatests/google/registry/export/backup_kinds.txt
index 2251a1946..f3366963d 100644
--- a/javatests/google/registry/export/backup_kinds.txt
+++ b/javatests/google/registry/export/backup_kinds.txt
@@ -17,6 +17,7 @@ OneTime
 PollMessage
 PremiumList
 PremiumListEntry
+PremiumListRevision
 RdeRevision
 Recurring
 Registrar
diff --git a/javatests/google/registry/export/reporting_kinds.txt b/javatests/google/registry/export/reporting_kinds.txt
index 354e30de6..4ad987b90 100644
--- a/javatests/google/registry/export/reporting_kinds.txt
+++ b/javatests/google/registry/export/reporting_kinds.txt
@@ -13,6 +13,7 @@ Modification
 OneTime
 PremiumList
 PremiumListEntry
+PremiumListRevision
 Recurring
 Registrar
 RegistrarContact
diff --git a/javatests/google/registry/model/registry/label/PremiumListTest.java b/javatests/google/registry/model/registry/label/PremiumListTest.java
index fcbb8cb33..bbb1948da 100644
--- a/javatests/google/registry/model/registry/label/PremiumListTest.java
+++ b/javatests/google/registry/model/registry/label/PremiumListTest.java
@@ -15,6 +15,7 @@
 package google.registry.model.registry.label;
 
 import static com.google.common.truth.Truth.assertThat;
+import static com.google.common.truth.Truth.assertWithMessage;
 import static google.registry.model.ofy.ObjectifyService.ofy;
 import static google.registry.model.registry.label.PremiumList.getPremiumPrice;
 import static google.registry.testing.DatastoreHelper.createTld;
@@ -54,13 +55,14 @@ public class PremiumListTest {
 
   @Before
   public void before() throws Exception {
+    // createTld() overwrites the premium list, so call it first.
+    createTld("tld");
     PremiumList pl = persistPremiumList(
         "tld",
         "lol,USD 999 # yup",
         "rich,USD 1999 #tada",
         "icann,JPY 100",
         "johnny-be-goode,USD 20.50");
-    createTld("tld");
     persistResource(Registry.get("tld").asBuilder().setPremiumList(pl).build());
   }
 
@@ -260,6 +262,17 @@ public class PremiumListTest {
             .isNotEqualTo(pl.getRevisionKey());
   }
 
+  @Test
+  public void testProbablePremiumLabels() throws Exception {
+    PremiumList pl = PremiumList.get("tld").get();
+    assertThat(pl.getRevision().probablePremiumLabels.mightContain("notpremium")).isFalse();
+    for (String label : ImmutableList.of("rich", "lol", "johnny-be-goode", "icann")) {
+      assertWithMessage(label + " should be a probable premium")
+          .that(pl.getRevision().probablePremiumLabels.mightContain(label))
+          .isTrue();
+    }
+  }
+
   /** Persists a premium list with a specified number of nonsense entries. */
   private PremiumList persistHumongousPremiumList(String name, int size) {
     String[] entries = new String[size];
diff --git a/javatests/google/registry/model/schema.txt b/javatests/google/registry/model/schema.txt
index 1f28007c0..242a9bd5f 100644
--- a/javatests/google/registry/model/schema.txt
+++ b/javatests/google/registry/model/schema.txt
@@ -742,6 +742,7 @@ class google.registry.model.registry.label.PremiumList$PremiumListEntry {
 class google.registry.model.registry.label.PremiumList$PremiumListRevision {
   @Id long revisionId;
   @Parent com.googlecode.objectify.Key<google.registry.model.registry.label.PremiumList> parent;
+  com.google.common.hash.BloomFilter<java.lang.String> probablePremiumLabels;
 }
 enum google.registry.model.registry.label.ReservationType {
   ALLOWED_IN_SUNRISE;
diff --git a/javatests/google/registry/testing/DatastoreHelper.java b/javatests/google/registry/testing/DatastoreHelper.java
index e8f61a5d7..b6b7b3ad6 100644
--- a/javatests/google/registry/testing/DatastoreHelper.java
+++ b/javatests/google/registry/testing/DatastoreHelper.java
@@ -357,7 +357,7 @@ public class DatastoreHelper {
     // that we can avoid writing commit logs. This would cause issues since many tests replace the
     // clock in Ofy with a non-advancing FakeClock, and commit logs currently require
     // monotonically increasing timestamps.
-    ofy().saveWithoutBackup().entity(premiumList).now();
+    ofy().saveWithoutBackup().entities(premiumList, premiumList.getRevision()).now();
     ofy().saveWithoutBackup().entities(premiumList.getPremiumListEntries().values()).now();
     return premiumList;
   }