diff --git a/common/changes/@rushstack/eslint-patch/eslint-cache-bug_2025-01-07-00-34.json b/common/changes/@rushstack/eslint-patch/eslint-cache-bug_2025-01-07-00-34.json
new file mode 100644
index 00000000000..7be887ed6c8
--- /dev/null
+++ b/common/changes/@rushstack/eslint-patch/eslint-cache-bug_2025-01-07-00-34.json
@@ -0,0 +1,10 @@
+{
+  "changes": [
+    {
+      "packageName": "@rushstack/eslint-patch",
+      "comment": "Fix a performance issue when locating \".eslint-bulk-suppressions.json\".",
+      "type": "patch"
+    }
+  ],
+  "packageName": "@rushstack/eslint-patch"
+}
\ No newline at end of file
diff --git a/eslint/eslint-patch/src/eslint-bulk-suppressions/bulk-suppressions-patch.ts b/eslint/eslint-patch/src/eslint-bulk-suppressions/bulk-suppressions-patch.ts
index 72978ceb69a..68b897f7a8c 100644
--- a/eslint/eslint-patch/src/eslint-bulk-suppressions/bulk-suppressions-patch.ts
+++ b/eslint/eslint-patch/src/eslint-bulk-suppressions/bulk-suppressions-patch.ts
@@ -110,7 +110,9 @@ function findEslintrcFolderPathForNormalizedFileAbsolutePath(normalizedFilePath:
   ) {
     const cachedEslintrcFolderPath: string | undefined = eslintrcPathByFileOrFolderPath.get(currentFolder);
     if (cachedEslintrcFolderPath) {
-      return cachedEslintrcFolderPath;
+      // Need to cache this result into the intermediate paths
+      eslintrcFolderPath = cachedEslintrcFolderPath;
+      break;
     }
 
     pathsToCache.push(currentFolder);