A processing system selectively allocates storage at a local cache of a parallel processing unit for cache lines of a repeating pattern of data that exceeds the storage capacity of the cache. The processing system identifies repeating patterns of data having cache lines that have a reuse distance that exceeds the storage capacity of the cache. A cache controller allocates storage for only a subset of cache lines of the repeating pattern of data at the cache and excludes the remainder of cache lines of the repeating pattern of data from the cache. By restricting the cache to store only a subset of cache lines of the repeating pattern of data, the cache controller increases the hit rate at the cache for the subset of cache lines.