Index: src/main/java/org/apache/jackrabbit/core/state/SharedItemStateManager.java
===================================================================
--- src/main/java/org/apache/jackrabbit/core/state/SharedItemStateManager.java	(revision 1352099)
+++ src/main/java/org/apache/jackrabbit/core/state/SharedItemStateManager.java	(working copy)
@@ -787,6 +787,24 @@
 
             ISMLocking.ReadLock readLock = null;
             try {
+
+                synchronized (SharedItemStateManager.this) {
+                    // add all ids of new item states to the
+                    // currentlyLoading set to prevent reads
+                    // from other sessions while lock is downgraded
+                    // to a read lock and shared.persisted() is
+                    // in progress
+                    for (ItemState added : shared.addedStates()) {
+                        boolean wasAdded = currentlyLoading.add(added.getId());
+                        // the ISMLocking contract ensures that at
+                        // this point no other thread is reading items
+                        // that are referenced in the shared ChangeLog.
+                        // that is, currentlyLoading must always return
+                        // true here
+                        assert (wasAdded);
+                    }
+                }
+
                 // downgrade to read lock
                 readLock = writeLock.downgrade();
                 writeLock = null;
@@ -795,6 +813,13 @@
                 // JCR-2171: This must happen after downgrading the lock!
                 shared.persisted();
 
+                synchronized (SharedItemStateManager.this) {
+                    for (ItemState added : shared.addedStates()) {
+                        currentlyLoading.remove(added.getId());
+                    }
+                    SharedItemStateManager.this.notifyAll();
+                }
+
                 /* notify virtual providers about node references */
                 for (int i = 0; i < virtualNodeReferences.length; i++) {
                     ChangeLog virtualRefs = virtualNodeReferences[i];
@@ -1708,9 +1733,10 @@
 
     /**
      * Identifiers of the item states that are currently being loaded from
-     * the underlying persistence manager. Used exclusively by the
-     * {@link #getNonVirtualItemState(ItemId)} method to prevent two threads
-     * from concurrently loading the same items.
+     * the underlying persistence manager. Used by
+     * {@link #getNonVirtualItemState(ItemId)} and
+     * {@link Update#end()} method to prevent two threads from concurrently
+     * loading the same items.
      */
     private final Set<ItemId> currentlyLoading = new HashSet<ItemId>();