Methods, apparatus, and articles of manufacture to virtualize performance counters are disclosed. An example method includes dividing performance events to be counted into a plurality of classes; assigning a first virtual performance counter of a virtual machine to a first performance event type in a first one of the classes; assigning a second virtual performance counter of the virtual machine to a second performance event type in a second one of the classes different from the first class; incrementing the first virtual performance counter in response to a first occurrence of the first performance event type during direct execution of guest instructions by the virtual machine; and not incrementing the first virtual performance counter in response to a second occurrence of the first performance event type during execution of emulated instructions by a hypervisor on behalf of the virtual machine.