--- old/src/hotspot/share/opto/macro.cpp	2018-05-17 16:24:12.047027984 +0200
+++ new/src/hotspot/share/opto/macro.cpp	2018-05-17 16:24:11.799027988 +0200
@@ -691,13 +691,17 @@
         bt = T_NARROWOOP;
       }
       value = value_from_mem(mem, ctl, bt, ft, adr_type, alloc);
-      assert(value != NULL, "field value should not be null");
-      if (ft->isa_narrowoop()) {
+      if (value != NULL && ft->isa_narrowoop()) {
         assert(UseCompressedOops, "unexpected narrow oop");
         value = transform_later(new DecodeNNode(value, value->get_ptr_type()));
       }
     }
-    vt->set_field_value(i, value);
+    if (value != NULL) {
+      vt->set_field_value(i, value);
+    } else {
+      // We might have reached the TrackedInitializationLimit
+      return NULL;
+    }
   }
   return vt;
 }
--- old/src/hotspot/share/opto/parse1.cpp	2018-05-17 16:24:12.519027978 +0200
+++ new/src/hotspot/share/opto/parse1.cpp	2018-05-17 16:24:12.267027981 +0200
@@ -2377,21 +2377,11 @@
       ValueTypeNode* vt = value->as_ValueType()->allocate(this)->as_ValueType();
       value = ValueTypePtrNode::make_from_value_type(_gvn, vt);
     } else if (phi->bottom_type()->isa_valuetype() && !value->is_ValueType()) {
-      Node* null_ctl = top();
-      Node* not_null_obj = null_check_common(value, T_VALUETYPE, false, &null_ctl, false);
-      if (null_ctl != top()) {
-        // TODO For now, we just deoptimize if value type is NULL
-        PreserveJVMState pjvms(this);
-        set_control(null_ctl);
-        replace_in_map(value, null());
-        inc_sp(1);
-        uncommon_trap(Deoptimization::Reason_null_check, Deoptimization::Action_none);
-      }
-      if (stopped()) {
-        value = null();
-      } else {
-        value = ValueTypeNode::make_from_oop(this, not_null_obj, phi->bottom_type()->isa_valuetype()->value_klass());
-      }
+      assert(value->bottom_type()->remove_speculative() == TypePtr::NULL_PTR, "Anything other than null?");
+      inc_sp(1);
+      uncommon_trap(Deoptimization::Reason_null_check, Deoptimization::Action_none);
+      dec_sp(1);
+      return;
     } else {
       // Handle returns of oop-arrays to an arrays-of-interface return
       const TypeInstPtr* phi_tip;