diff --git a/mypyc/lib-rt/dict_ops.c b/mypyc/lib-rt/dict_ops.c
index 8a9202c403f8..8894ae18b92c 100644
--- a/mypyc/lib-rt/dict_ops.c
+++ b/mypyc/lib-rt/dict_ops.c
@@ -212,58 +212,35 @@ PyObject *CPyDict_ItemsView(PyObject *dict) {
     return PyObject_CallMethodNoArgs(dict, mypyc_interned_str.items);
 }
 
-PyObject *CPyDict_Keys(PyObject *dict) {
-    if (PyDict_CheckExact(dict)) {
-        return PyDict_Keys(dict);
-    }
-    // Inline generic fallback logic to also return a list.
-    PyObject *list = PyList_New(0);
-    PyObject *view = PyObject_CallMethodNoArgs(dict, mypyc_interned_str.keys);
+static inline PyObject *dict_view_as_list(PyObject *dict, PyObject *method) {
+    PyObject *view = PyObject_CallMethodNoArgs(dict, method);
     if (view == NULL) {
         return NULL;
     }
-    int res = PyList_Extend(list, view);
+    PyObject *list = PySequence_List(view);
     Py_DECREF(view);
-    if (res < 0) {
-        return NULL;
-    }
     return list;
 }
 
+PyObject *CPyDict_Keys(PyObject *dict) {
+    if (PyDict_CheckExact(dict)) {
+        return PyDict_Keys(dict);
+    }
+    return dict_view_as_list(dict, mypyc_interned_str.keys);
+}
+
 PyObject *CPyDict_Values(PyObject *dict) {
     if (PyDict_CheckExact(dict)) {
         return PyDict_Values(dict);
     }
-    // Inline generic fallback logic to also return a list.
-    PyObject *list = PyList_New(0);
-    PyObject *view = PyObject_CallMethodNoArgs(dict, mypyc_interned_str.values);
-    if (view == NULL) {
-        return NULL;
-    }
-    int res = PyList_Extend(list, view);
-    Py_DECREF(view);
-    if (res < 0) {
-        return NULL;
-    }
-    return list;
+    return dict_view_as_list(dict, mypyc_interned_str.values);
 }
 
 PyObject *CPyDict_Items(PyObject *dict) {
     if (PyDict_CheckExact(dict)) {
         return PyDict_Items(dict);
     }
-    // Inline generic fallback logic to also return a list.
-    PyObject *list = PyList_New(0);
-    PyObject *view = PyObject_CallMethodNoArgs(dict, mypyc_interned_str.items);
-    if (view == NULL) {
-        return NULL;
-    }
-    int res = PyList_Extend(list, view);
-    Py_DECREF(view);
-    if (res < 0) {
-        return NULL;
-    }
-    return list;
+    return dict_view_as_list(dict, mypyc_interned_str.items);
 }
 
 char CPyDict_Clear(PyObject *dict) {
diff --git a/mypyc/test-data/run-dicts.test b/mypyc/test-data/run-dicts.test
index da507900ff50..9cf57fbfc555 100644
--- a/mypyc/test-data/run-dicts.test
+++ b/mypyc/test-data/run-dicts.test
@@ -513,3 +513,69 @@ test_sub_cyclic_dict_cleanup()
 test_cyclic_dict_cleanup_interpreted()
 test_sub_cyclic_dict_cleanup_interpreted()
 test_allow_interpreted_subclass_cyclic_dict_cleanup()
+
+[case testDictListErrorOwnership]
+from typing import Any, Dict, List
+
+def keys(d: Dict[Any, Any]) -> List[Any]:
+    return list(d.keys())
+def values(d: Dict[Any, Any]) -> List[Any]:
+    return list(d.values())
+def items(d: Dict[Any, Any]) -> List[Any]:
+    return list(d.items())
+
+[file driver.py]
+import gc
+import weakref
+from native import keys, values, items
+from testutil import assertRaises
+
+class Sentinel:
+    pass
+
+refs = []
+def failing_iterator():
+    value = Sentinel()
+    refs.append(weakref.ref(value))
+    yield value
+    raise RuntimeError("iteration failed")
+
+class BadDict(dict):
+    def keys(self):
+        return failing_iterator()
+    values = keys
+    items = keys
+
+class BadMethod(dict):
+    def keys(self):
+        raise RuntimeError("method failed")
+    values = keys
+    items = keys
+
+class BadIter:
+    def __iter__(self):
+        raise RuntimeError("iter failed")
+
+class BadLength:
+    def __iter__(self):
+        return self
+    def __next__(self):
+        return None
+    def __length_hint__(self):
+        raise RuntimeError("length failed")
+
+class CustomDict(dict):
+    def __init__(self, result):
+        self.result = result
+    def keys(self):
+        return self.result
+    values = keys
+    items = keys
+
+for convert in (keys, values, items):
+    for d in (BadDict(), BadMethod(), CustomDict(BadIter()), CustomDict(BadLength())):
+        with assertRaises(RuntimeError):
+            convert(d)
+        gc.collect()
+        assert all(ref() is None for ref in refs)
+    assert convert(CustomDict(iter([1, 2]))) == [1, 2]