diff --git a/gitnexus/src/core/shared-store-analyze.ts b/gitnexus/src/core/shared-store-analyze.ts
index 1817d72ae..646f5bd86 100644
--- a/gitnexus/src/core/shared-store-analyze.ts
+++ b/gitnexus/src/core/shared-store-analyze.ts
@@ -370,6 +370,9 @@ export const publishSharedGraph = async (
     meta.lastCommit === currentCommit &&
     !meta.incrementalInProgress &&
     builtClean &&
+    // Embeddings still owed stay with this checkout, which finishes them; a
+    // commit graph never changes, so a shared copy would stay short for good.
+    !meta.embeddingCheckpoint &&
     // A sparse or partial checkout builds a graph missing the files it hides.
     isWorkingTreePristine(repoPath);
   // Every pointer change and the reclaim that follows run under one publish
@@ -379,7 +382,23 @@ export const publishSharedGraph = async (
       const target = commitGraphDir(layout, currentCommit, featureKeyOf(meta));
       const targetGraph = path.join(target, LBUG_DIRECTORY);
       let published = await exists(targetGraph);
-      if (published) {
+      // A commit graph published before embedding checkpoints were kept
+      // private may hold fewer embeddings than this checkout's own graph.
+      // Keep the better private graph; the commit graph stays as it is, since
+      // other checkouts may read it.
+      const targetMeta = published ? await loadMeta(target) : null;
+      const ownIsBetter =
+        published &&
+        (!targetMeta ||
+          !!targetMeta.embeddingCheckpoint ||
+          (targetMeta.stats?.embeddings ?? 0) < (meta.stats?.embeddings ?? 0)) &&
+        (await exists(own));
+      if (ownIsBetter) {
+        published = false;
+        log(
+          `Shared store: commit graph ${currentCommit.slice(0, 12)} is less complete; keeping the private graph.`,
+        );
+      } else if (published) {
         try {
           await wipeLbugDbFiles(own);
         } catch (err) {
diff --git a/gitnexus/test/integration/shared-store-analyze.test.ts b/gitnexus/test/integration/shared-store-analyze.test.ts
index 4ef69c003..c3c8fbcd0 100644
--- a/gitnexus/test/integration/shared-store-analyze.test.ts
+++ b/gitnexus/test/integration/shared-store-analyze.test.ts
@@ -390,4 +390,63 @@ describe('publishSharedGraph race (#3352)', () => {
     expect((await loadMeta(slot))?.graphPath).toBe(shared);
     expect(existsSync(path.join(slot, 'lbug'))).toBe(false);
   });
+
+  const checkpoint: NonNullable<RepoMeta['embeddingCheckpoint']> = {
+    at: '2026-01-01T00:00:00.000Z',
+    nodesProcessed: 1,
+    totalNodes: 2,
+    chunksProcessed: 1,
+    model: 'm',
+    dimensions: 4,
+    provider: 'local',
+    kind: 'partial',
+    pendingNodeIds: ['n2'],
+  };
+
+  // #3374: a graph with embeddings still owed would become every checkout's
+  // graph, and its checkpoint-free copy would look complete forever.
+  it('keeps a graph with pending embeddings private', async () => {
+    const { checkouts, head } = await setup();
+    const [main] = checkouts;
+    const slot = layoutOf(main).checkoutSlot;
+    const meta = (await loadMeta(slot)) as RepoMeta;
+    await saveMeta(slot, { ...meta, embeddingCheckpoint: checkpoint });
+    await publishSharedGraph(layoutOf(main), main, head, () => {});
+    expect(await listCommitDirs(layoutOf(main))).toEqual([]);
+    expect(existsSync(path.join(slot, 'lbug'))).toBe(true);
+    expect((await loadMeta(slot))?.embeddingCheckpoint).toEqual(checkpoint);
+  });
+
+  // A commit graph published before that rule may still be the weaker one;
+  // the checkout keeps its own graph rather than trading down to it.
+  it.each<[string, Partial<RepoMeta>]>([
+    ['records pending embeddings', { embeddingCheckpoint: checkpoint, stats: { embeddings: 5 } }],
+    ['has fewer embeddings', { stats: { embeddings: 2 } }],
+  ])('keeps the private graph when the published one %s', async (_label, targetDelta) => {
+    const { checkouts, head } = await setup();
+    const [main, wt] = checkouts;
+    const layout = layoutOf(main);
+    const slot = layout.checkoutSlot;
+    const own: RepoMeta = { ...((await loadMeta(slot)) as RepoMeta), stats: { embeddings: 5 } };
+    await saveMeta(slot, own);
+    const target = commitGraphDir(layout, head, featureKeyOf(own));
+    await fs.mkdir(target, { recursive: true });
+    await fs.writeFile(path.join(target, 'lbug'), 'older published graph');
+    const targetMeta: Partial<RepoMeta> = {
+      lastCommit: head,
+      indexedAt: own.indexedAt,
+      ...targetDelta,
+    };
+    await fs.writeFile(path.join(target, 'gitnexus.json'), JSON.stringify(targetMeta));
+    // Another checkout reads the published graph.
+    const wtSlot = layoutOf(wt).checkoutSlot;
+    await fs.rm(path.join(wtSlot, 'lbug'));
+    const wtMeta = (await loadMeta(wtSlot)) as RepoMeta;
+    await saveMeta(wtSlot, { ...wtMeta, graphPath: path.join(target, 'lbug') });
+    await publishSharedGraph(layout, main, head, () => {});
+    expect(await fs.readFile(path.join(slot, 'lbug'), 'utf-8')).toBe(`graph from ${main}`);
+    expect((await loadMeta(slot))?.graphPath).toBeUndefined();
+    // The published graph is immutable: other checkouts may point at it.
+    expect(await fs.readFile(path.join(target, 'lbug'), 'utf-8')).toBe('older published graph');
+  });
 });