diff --git a/llvm/include/llvm/Transforms/IPO/FunctionSpecialization.h b/llvm/include/llvm/Transforms/IPO/FunctionSpecialization.h
--- a/llvm/include/llvm/Transforms/IPO/FunctionSpecialization.h
+++ b/llvm/include/llvm/Transforms/IPO/FunctionSpecialization.h
@@ -184,6 +184,7 @@
 
   ~FunctionSpecializer();
 
+  void init();
   bool run();
 
   InstCostVisitor getInstCostVisitorFor(Function *F) {
diff --git a/llvm/lib/Transforms/IPO/FunctionSpecialization.cpp b/llvm/lib/Transforms/IPO/FunctionSpecialization.cpp
--- a/llvm/lib/Transforms/IPO/FunctionSpecialization.cpp
+++ b/llvm/lib/Transforms/IPO/FunctionSpecialization.cpp
@@ -463,6 +463,15 @@
   cleanUpSSA();
 }
 
+/// Should be called once before any calls to run.
+void FunctionSpecializer::init() {
+  // Promote constant stack values once before entering the run loop.
+  // Apart from generally increasing specialization opportunities, this is
+  // critical for Fortran programs where function arguments are passed by
+  // reference.
+  promoteConstantStackValues();
+}
+
 /// Attempt to specialize functions in the module to enable constant
 /// propagation across function boundaries.
 ///
diff --git a/llvm/lib/Transforms/IPO/SCCP.cpp b/llvm/lib/Transforms/IPO/SCCP.cpp
--- a/llvm/lib/Transforms/IPO/SCCP.cpp
+++ b/llvm/lib/Transforms/IPO/SCCP.cpp
@@ -160,6 +160,7 @@
   Solver.solveWhileResolvedUndefsIn(M);
 
   if (IsFuncSpecEnabled) {
+    Specializer.init();
     unsigned Iters = 0;
     while (Iters++ < FuncSpecMaxIters && Specializer.run());
   }
diff --git a/llvm/test/Transforms/FunctionSpecialization/function-specialization-recursive5.ll b/llvm/test/Transforms/FunctionSpecialization/function-specialization-recursive5.ll
new file mode 100644
--- /dev/null
+++ b/llvm/test/Transforms/FunctionSpecialization/function-specialization-recursive5.ll
@@ -0,0 +1,48 @@
+; RUN: opt -passes="ipsccp<func-spec>,inline,instcombine" -force-specialization -funcspec-max-iters=1 -S < %s | FileCheck %s --check-prefix=ITERS1
+; RUN: opt -passes="ipsccp<func-spec>,inline,instcombine" -force-specialization -funcspec-max-iters=4 -S < %s | FileCheck %s --check-prefix=ITERS4
+
+define internal void @recursiveFunc(ptr nocapture readonly %lo, i32 %step, ptr nocapture readonly %hi) {
+  %lo.temp = alloca i32, align 4
+  %hi.temp = alloca i32, align 4
+  %lo.load = load i32, ptr %lo, align 4
+  %hi.load = load i32, ptr %hi, align 4
+  %cmp = icmp ne i32 %lo.load, %hi.load
+  br i1 %cmp, label %block6, label %ret.block
+
+block6:
+  call void @print_val(i32 %lo.load, i32 %hi.load)
+  %add = add nsw i32 %lo.load, %step
+  %sub = sub nsw i32 %hi.load, %step
+  store i32 %add, ptr %lo.temp, align 4
+  store i32 %sub, ptr %hi.temp, align 4
+  call void @recursiveFunc(ptr nonnull %lo.temp, i32 %step, ptr nonnull %hi.temp)
+  br label %ret.block
+
+ret.block:
+  ret void
+}
+
+; ITERS1:  @funcspec.arg.3 = internal constant i32 1
+; ITERS1:  @funcspec.arg.4 = internal constant i32 5
+
+define i32 @main() {
+; ITERS1-LABEL: @main(
+; ITERS1-NEXT:    call void @print_val(i32 0, i32 6)
+; ITERS1-NEXT:    call void @recursiveFunc(ptr nonnull @funcspec.arg.3, i32 1, ptr nonnull @funcspec.arg.4)
+; ITERS1-NEXT:    ret i32 0
+;
+; ITERS4-LABEL: @main(
+; ITERS4-NEXT:    call void @print_val(i32 0, i32 6)
+; ITERS4-NEXT:    call void @print_val(i32 1, i32 5)
+; ITERS4-NEXT:    call void @print_val(i32 2, i32 4)
+; ITERS4-NEXT:    ret i32 0
+;
+  %low.arg = alloca i32, align 4
+  %high.arg = alloca i32, align 4
+  store i32 0, ptr %low.arg, align 4
+  store i32 6, ptr %high.arg, align 4
+  call void @recursiveFunc(ptr nonnull %low.arg, i32 1, ptr nonnull %high.arg)
+  ret i32 0
+}
+
+declare dso_local void @print_val(i32, i32)