diff --git a/libcxx/include/__string b/libcxx/include/__string
--- a/libcxx/include/__string
+++ b/libcxx/include/__string
@@ -72,7 +72,71 @@
 
 // The the extern template ABI lists are kept outside of <string> to improve the
 // readability of that header.
-#define _LIBCPP_STRING_EXTERN_TEMPLATE_LIST(_Func, _CharType) \
+
+// The extern template ABI lists are kept outside of <string> to improve the
+// readability of that header. We maintain 2 ABI lists:
+// - _LIBCPP_STRING_V1_EXTERN_TEMPLATE_LIST
+// - _LIBCPP_STRING_UNSTABLE_EXTERN_TEMPLATE_LIST
+// As the name implies, the ABI lists define the V1 (Stable) and unstable ABI.
+//
+// For unstable, we may explicitly remove function that are external in V1,
+// and add (new) external functions to better control inlining and compiler
+// optimization opportunities.
+//
+// For stable, the ABI list should rarely change, except for adding new
+// functions supporting new c++ version / API changes. Typically entries
+// must never be removed from the stable list.
+#define _LIBCPP_STRING_V1_EXTERN_TEMPLATE_LIST(_Func, _CharType) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::replace(size_type, size_type, value_type const*, size_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>::size_type basic_string<_CharType>::rfind(value_type const*, size_type, size_type) const) \
+  _Func(_LIBCPP_FUNC_VIS void basic_string<_CharType>::__init(value_type const*, size_type, size_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>::basic_string(basic_string const&)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::replace(size_type, size_type, value_type const*)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>::basic_string(basic_string const&, std::allocator<_CharType> const&)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>::size_type basic_string<_CharType>::find_last_not_of(value_type const*, size_type, size_type) const) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>::~basic_string()) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>::size_type basic_string<_CharType>::find_first_not_of(value_type const*, size_type, size_type) const) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::insert(size_type, size_type, value_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::operator=(value_type)) \
+  _Func(_LIBCPP_FUNC_VIS void basic_string<_CharType>::__init(value_type const*, size_type)) \
+  _Func(_LIBCPP_FUNC_VIS const _CharType& basic_string<_CharType>::at(size_type) const) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::insert(size_type, value_type const*, size_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>::size_type basic_string<_CharType>::find_first_of(value_type const*, size_type, size_type) const) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::replace(size_type, size_type, size_type, value_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::assign(value_type const*, size_type)) \
+  _Func(_LIBCPP_FUNC_VIS void basic_string<_CharType>::reserve(size_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::append(value_type const*, size_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::assign(basic_string const&, size_type, size_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>::size_type basic_string<_CharType>::copy(value_type*, size_type, size_type) const) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>::basic_string(basic_string const&, size_type, size_type, std::allocator<_CharType> const&)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>::size_type basic_string<_CharType>::find(value_type, size_type) const) \
+  _Func(_LIBCPP_FUNC_VIS void basic_string<_CharType>::__init(size_type, value_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::insert(size_type, value_type const*)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>::size_type basic_string<_CharType>::find_last_of(value_type const*, size_type, size_type) const) \
+  _Func(_LIBCPP_FUNC_VIS void basic_string<_CharType>::__grow_by(size_type, size_type, size_type, size_type, size_type, size_type)) \
+  _Func(_LIBCPP_FUNC_VIS void basic_string<_CharType>::__grow_by_and_replace(size_type, size_type, size_type, size_type, size_type, size_type, value_type const*)) \
+  _Func(_LIBCPP_FUNC_VIS void basic_string<_CharType>::push_back(value_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::append(size_type, value_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>::size_type basic_string<_CharType>::rfind(value_type, size_type) const) \
+  _Func(_LIBCPP_FUNC_VIS const basic_string<_CharType>::size_type basic_string<_CharType>::npos) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::assign(size_type, value_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::erase(size_type, size_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::append(basic_string const&, size_type, size_type)) \
+  _Func(_LIBCPP_FUNC_VIS int basic_string<_CharType>::compare(value_type const*) const) \
+  _Func(_LIBCPP_FUNC_VIS int basic_string<_CharType>::compare(size_type, size_type, value_type const*) const) \
+  _Func(_LIBCPP_FUNC_VIS _CharType& basic_string<_CharType>::at(size_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::assign(value_type const*)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>::size_type basic_string<_CharType>::find(value_type const*, size_type, size_type) const) \
+  _Func(_LIBCPP_FUNC_VIS int basic_string<_CharType>::compare(size_type, size_type, basic_string const&, size_type, size_type) const) \
+  _Func(_LIBCPP_FUNC_VIS int basic_string<_CharType>::compare(size_type, size_type, value_type const*, size_type) const) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::operator=(basic_string const&)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::append(value_type const*)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::replace(size_type, size_type, basic_string const&, size_type, size_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>::iterator basic_string<_CharType>::insert(basic_string::const_iterator, value_type)) \
+  _Func(_LIBCPP_FUNC_VIS void basic_string<_CharType>::resize(size_type, value_type)) \
+  _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::insert(size_type, basic_string const&, size_type, size_type))
+
+#define _LIBCPP_STRING_UNSTABLE_EXTERN_TEMPLATE_LIST(_Func, _CharType) \
   _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>& basic_string<_CharType>::replace(size_type, size_type, value_type const*, size_type)) \
   _Func(_LIBCPP_FUNC_VIS basic_string<_CharType>::size_type basic_string<_CharType>::rfind(value_type const*, size_type, size_type) const) \
   _Func(_LIBCPP_FUNC_VIS void basic_string<_CharType>::__init(value_type const*, size_type, size_type)) \
diff --git a/libcxx/include/string b/libcxx/include/string
--- a/libcxx/include/string
+++ b/libcxx/include/string
@@ -4338,8 +4338,13 @@
 
 #endif  // _LIBCPP_DEBUG_LEVEL >= 2
 
-_LIBCPP_STRING_EXTERN_TEMPLATE_LIST(_LIBCPP_EXTERN_TEMPLATE, char)
-_LIBCPP_STRING_EXTERN_TEMPLATE_LIST(_LIBCPP_EXTERN_TEMPLATE, wchar_t)
+#if defined(_LIBCPP_ABI_UNSTABLE) || _LIBCPP_ABI_VERSION >= 2
+_LIBCPP_STRING_UNSTABLE_EXTERN_TEMPLATE_LIST(_LIBCPP_EXTERN_TEMPLATE, char)
+_LIBCPP_STRING_UNSTABLE_EXTERN_TEMPLATE_LIST(_LIBCPP_EXTERN_TEMPLATE, wchar_t)
+#else
+_LIBCPP_STRING_V1_EXTERN_TEMPLATE_LIST(_LIBCPP_EXTERN_TEMPLATE, char)
+_LIBCPP_STRING_V1_EXTERN_TEMPLATE_LIST(_LIBCPP_EXTERN_TEMPLATE, wchar_t)
+#endif
 
 #if _LIBCPP_STD_VER > 11
 // Literal suffixes for basic_string [basic.string.literals]
diff --git a/libcxx/src/string.cpp b/libcxx/src/string.cpp
--- a/libcxx/src/string.cpp
+++ b/libcxx/src/string.cpp
@@ -20,8 +20,13 @@
 
 template class _LIBCPP_CLASS_TEMPLATE_INSTANTIATION_VIS __basic_string_common<true>;
 
-_LIBCPP_STRING_EXTERN_TEMPLATE_LIST(_LIBCPP_EXTERN_TEMPLATE_DEFINE, char)
-_LIBCPP_STRING_EXTERN_TEMPLATE_LIST(_LIBCPP_EXTERN_TEMPLATE_DEFINE, wchar_t)
+#if defined(_LIBCPP_ABI_UNSTABLE) || _LIBCPP_ABI_VERSION >= 2
+_LIBCPP_STRING_UNSTABLE_EXTERN_TEMPLATE_LIST(_LIBCPP_EXTERN_TEMPLATE_DEFINE, char)
+_LIBCPP_STRING_UNSTABLE_EXTERN_TEMPLATE_LIST(_LIBCPP_EXTERN_TEMPLATE_DEFINE, wchar_t)
+#else
+_LIBCPP_STRING_V1_EXTERN_TEMPLATE_LIST(_LIBCPP_EXTERN_TEMPLATE_DEFINE, char)
+_LIBCPP_STRING_V1_EXTERN_TEMPLATE_LIST(_LIBCPP_EXTERN_TEMPLATE_DEFINE, wchar_t)
+#endif
 
 template
     string