diff --git a/libexec/rtld-elf/rtld.c b/libexec/rtld-elf/rtld.c
--- a/libexec/rtld-elf/rtld.c
+++ b/libexec/rtld-elf/rtld.c
@@ -172,7 +172,7 @@
 static int symlook_obj1_sysv(SymLook *, const Obj_Entry *);
 static int symlook_obj1_gnu(SymLook *, const Obj_Entry *);
 static void *tls_get_addr_slow(Elf_Addr **, int, size_t, bool) __noinline;
-static void trace_loaded_objects(Obj_Entry *);
+static void trace_loaded_objects(Obj_Entry *, bool);
 static void unlink_object(Obj_Entry *);
 static void unload_object(Obj_Entry *, RtldLockState *lockstate);
 static void unref_dag(Obj_Entry *);
@@ -872,7 +872,7 @@
        dump_auxv(aux_info);
 
     if (ld_tracing) {		/* We're done */
-	trace_loaded_objects(obj_main);
+	trace_loaded_objects(obj_main, true);
 	exit(0);
     }
 
@@ -3834,7 +3834,7 @@
 	lock_release(rtld_bind_lock, lockstate);
     return (obj);
 trace:
-    trace_loaded_objects(obj);
+    trace_loaded_objects(obj, false);
     if (lockstate == &mlockstate)
 	lock_release(rtld_bind_lock, lockstate);
     exit(0);
@@ -4920,101 +4920,125 @@
 }
 
 static void
-trace_loaded_objects(Obj_Entry *obj)
+trace_calc_fmts(const char **main_local, const char **fmt1, const char **fmt2)
 {
-    const char *fmt1, *fmt2, *fmt, *main_local, *list_containers;
-    int c;
+	*main_local = ld_get_env_var(LD_TRACE_LOADED_OBJECTS_PROGNAME);
+	if (*main_local == NULL)
+		*main_local = "";
 
-    if ((main_local = ld_get_env_var(LD_TRACE_LOADED_OBJECTS_PROGNAME)) ==
-      NULL)
-	main_local = "";
+	*fmt1 = ld_get_env_var(LD_TRACE_LOADED_OBJECTS_FMT1);
+	if (*fmt1 == NULL)
+		*fmt1 = "\t%o => %p (%x)\n";
 
-    if ((fmt1 = ld_get_env_var(LD_TRACE_LOADED_OBJECTS_FMT1)) == NULL)
-	fmt1 = "\t%o => %p (%x)\n";
-
-    if ((fmt2 = ld_get_env_var(LD_TRACE_LOADED_OBJECTS_FMT2)) == NULL)
-	fmt2 = "\t%o (%x)\n";
-
-    list_containers = ld_get_env_var(LD_TRACE_LOADED_OBJECTS_ALL);
-
-    for (; obj != NULL; obj = TAILQ_NEXT(obj, next)) {
-	Needed_Entry *needed;
-	const char *name, *path;
-	bool is_lib;
-
-	if (obj->marker)
-	    continue;
-	if (list_containers && obj->needed != NULL)
-	    rtld_printf("%s:\n", obj->path);
-	for (needed = obj->needed; needed; needed = needed->next) {
-	    if (needed->obj != NULL) {
-		if (needed->obj->traced && !list_containers)
-		    continue;
-		needed->obj->traced = true;
-		path = needed->obj->path;
-	    } else
-		path = "not found";
+	*fmt2 = ld_get_env_var(LD_TRACE_LOADED_OBJECTS_FMT2);
+	if (*fmt2 == NULL)
+		*fmt2 = "\t%o (%x)\n";
+}
 
-	    name = obj->strtab + needed->name;
-	    is_lib = strncmp(name, "lib", 3) == 0;	/* XXX - bogus */
+static void
+trace_print_obj(Obj_Entry *obj, const char *name, const char *path,
+    const char *main_local, const char *fmt1, const char *fmt2)
+{
+	const char *fmt;
+	int c;
 
-	    fmt = is_lib ? fmt1 : fmt2;
-	    while ((c = *fmt++) != '\0') {
+	fmt = strncmp(name, "lib", 3) == 0 ? fmt1 : fmt2;	/* XXX bogus */
+	while ((c = *fmt++) != '\0') {
 		switch (c) {
 		default:
-		    rtld_putchar(c);
-		    continue;
-		case '\\':
-		    switch (c = *fmt) {
-		    case '\0':
+			rtld_putchar(c);
 			continue;
-		    case 'n':
-			rtld_putchar('\n');
-			break;
-		    case 't':
-			rtld_putchar('\t');
+		case '\\':
+			switch (c = *fmt) {
+			case '\0':
+				continue;
+			case 'n':
+				rtld_putchar('\n');
+				break;
+			case 't':
+				rtld_putchar('\t');
+				break;
+			}
 			break;
-		    }
-		    break;
 		case '%':
-		    switch (c = *fmt) {
-		    case '\0':
-			continue;
-		    case '%':
-		    default:
-			rtld_putchar(c);
-			break;
-		    case 'A':
-			rtld_putstr(main_local);
-			break;
-		    case 'a':
-			rtld_putstr(obj_main->path);
-			break;
-		    case 'o':
-			rtld_putstr(name);
-			break;
-#if 0
-		    case 'm':
-			rtld_printf("%d", sodp->sod_major);
-			break;
-		    case 'n':
-			rtld_printf("%d", sodp->sod_minor);
-			break;
-#endif
-		    case 'p':
-			rtld_putstr(path);
-			break;
-		    case 'x':
-			rtld_printf("%p", needed->obj ? needed->obj->mapbase :
-			  0);
+			switch (c = *fmt) {
+			case '\0':
+				continue;
+			case '%':
+			default:
+				rtld_putchar(c);
+				break;
+			case 'A':
+				rtld_putstr(main_local);
+				break;
+			case 'a':
+				rtld_putstr(obj_main->path);
+				break;
+			case 'o':
+				rtld_putstr(name);
+				break;
+			case 'p':
+				rtld_putstr(path);
+				break;
+			case 'x':
+				rtld_printf("%p", obj != NULL ?
+				    obj->mapbase : NULL);
+				break;
+			}
 			break;
-		    }
-		    break;
 		}
 		++fmt;
-	    }
 	}
-    }
+}
+
+static void
+trace_loaded_objects(Obj_Entry *obj, bool show_preload)
+{
+	const char *fmt1, *fmt2, *main_local, *list_containers;
+	const char *name, *path;
+	bool first_spurious;
+
+	trace_calc_fmts(&main_local, &fmt1, &fmt2);
+	list_containers = ld_get_env_var(LD_TRACE_LOADED_OBJECTS_ALL);
+
+	for (; obj != NULL; obj = TAILQ_NEXT(obj, next)) {
+		Needed_Entry *needed;
+
+		if (obj->marker)
+			continue;
+		if (list_containers && obj->needed != NULL)
+			rtld_printf("%s:\n", obj->path);
+		for (needed = obj->needed; needed; needed = needed->next) {
+			if (needed->obj != NULL) {
+				if (needed->obj->traced && !list_containers)
+					continue;
+				needed->obj->traced = true;
+				path = needed->obj->path;
+			} else
+				path = "not found";
+
+			name = obj->strtab + needed->name;
+			trace_print_obj(obj, name, path, main_local,
+			    fmt1, fmt2);
+		}
+	}
+
+	if (show_preload) {
+		first_spurious = true;
+		TAILQ_FOREACH(obj, &obj_list, next) {
+			if (obj->marker || obj == obj_main || obj->traced)
+				continue;
+
+			if (first_spurious) {
+				rtld_printf("[preloaded]\n");
+				first_spurious = false;
+			}
+			Name_Entry *fname = STAILQ_FIRST(&obj->names);
+			name = fname == NULL ? "<unknown>" : fname->name;
+			trace_print_obj(obj, name, obj->path, main_local,
+			    fmt1, fmt2);
+		}
+	}
 }
 
 /*