diff --git a/extern/libmv/ChangeLog b/extern/libmv/ChangeLog
index 476e01dbe28..f9ddbb8c1b9 100644
--- a/extern/libmv/ChangeLog
+++ b/extern/libmv/ChangeLog
@@ -1,8 +1,34 @@
-commit f71f7c59d4d13574ea4dc3a196cc22eef1c192df
+commit cd7eb3eff2e69ce5e08570ead83ae6d35ee48857
+Author: Sergey Sharybin <sergey.vfx@gmail.com>
+Date:   Tue Jan 28 17:23:47 2014 +0600
+
+    Improvements to weighted tracks behavior
+    
+    First thing changed by this commit is making it so
+    Euclidean intersection takes track weight into account
+    when solving minimization problem. This behaves the
+    same exact way as it is for BA step.
+    
+    Second thing is related on how average reprojection error
+    is being calculated. It didn't take track weight into
+    account which could confuse users. Now average reprojection
+    error will give the same result as intersection/BA uses
+    during minimization which gives much more predictable
+    behavior.
+    
+    Reviewers: keir
+    
+    Reviewed By: keir
+    
+    CC: sebastian_k
+    
+    Differential Revision: https://developer.blender.org/D265
+
+commit 6559b36dc14369175bfa0830323146acd3426483
 Author: Sergey Sharybin <sergey.vfx@gmail.com>
 Date:   Tue Jan 28 16:39:14 2014 +0600
 
-    Fixed for keyframe selection
+    Fixes for keyframe selection
     
     Using tracks with constant zero weight used to crash
     keyframe selection since it was trying to use missing
@@ -660,17 +686,3 @@ Date:   Sat Apr 6 18:37:37 2013 +0600
     It is failing at this moment and this is caused because
     of how SampleLinear works - seems it's assumption about
     pixel center is not correct for internal sampling.
-
-commit d449b820fb3352cd981e06d737f2838adb3d36bd
-Author: Sergey Sharybin <sergey.vfx@gmail.com>
-Date:   Sat Apr 6 16:54:08 2013 +0600
-
-    Tweak to KLT region tracker test
-    
-    KLT is usually used to track relatively small
-    motions, and in this case motion almost equals
-    to half window size. This confuses math and
-    leads to not so much expected result.
-    
-    Further, not actually sure this is nice idea
-    to use KLT in such synthetic case.
diff --git a/extern/libmv/libmv/simple_pipeline/intersect.cc b/extern/libmv/libmv/simple_pipeline/intersect.cc
index fad750e8212..6a098da272d 100644
--- a/extern/libmv/libmv/simple_pipeline/intersect.cc
+++ b/extern/libmv/libmv/simple_pipeline/intersect.cc
@@ -54,8 +54,8 @@ class EuclideanIntersectCostFunctor {
     Vec3 projected = R * x + t;
     projected /= projected(2);
 
-    residuals[0] = projected(0) - T(marker_.x);
-    residuals[1] = projected(1) - T(marker_.y);
+    residuals[0] = (projected(0) - T(marker_.x)) * marker_.weight;
+    residuals[1] = (projected(1) - T(marker_.y)) * marker_.weight;
 
     return true;
   }
@@ -102,16 +102,18 @@ bool EuclideanIntersect(const vector<Marker> &markers,
 
   for (int i = 0; i < markers.size(); ++i) {
     const Marker &marker = markers[i];
-    const EuclideanCamera &camera =
-        *reconstruction->CameraForImage(marker.image);
+    if (marker.weight != 0.0) {
+      const EuclideanCamera &camera =
+          *reconstruction->CameraForImage(marker.image);
 
-    problem.AddResidualBlock(
-        new ceres::AutoDiffCostFunction<
-            EuclideanIntersectCostFunctor,
-            2, /* num_residuals */
-            3>(new EuclideanIntersectCostFunctor(marker, camera)),
-        NULL,
-        &X(0));
+      problem.AddResidualBlock(
+          new ceres::AutoDiffCostFunction<
+              EuclideanIntersectCostFunctor,
+              2, /* num_residuals */
+              3>(new EuclideanIntersectCostFunctor(marker, camera)),
+          NULL,
+          &X(0));
+    }
   }
 
   // Configure the solve.
diff --git a/extern/libmv/libmv/simple_pipeline/pipeline.cc b/extern/libmv/libmv/simple_pipeline/pipeline.cc
index 41dd3251f10..6c8592baa00 100644
--- a/extern/libmv/libmv/simple_pipeline/pipeline.cc
+++ b/extern/libmv/libmv/simple_pipeline/pipeline.cc
@@ -277,11 +277,12 @@ double InternalReprojectionError(
   double total_error = 0.0;
   vector<Marker> markers = image_tracks.AllMarkers();
   for (int i = 0; i < markers.size(); ++i) {
+    double weight = markers[i].weight;
     const typename PipelineRoutines::Camera *camera =
         reconstruction.CameraForImage(markers[i].image);
     const typename PipelineRoutines::Point *point =
         reconstruction.PointForTrack(markers[i].track);
-    if (!camera || !point) {
+    if (!camera || !point || weight == 0.0) {
       num_skipped++;
       continue;
     }
@@ -289,8 +290,8 @@ double InternalReprojectionError(
 
     Marker reprojected_marker =
         PipelineRoutines::ProjectMarker(*point, *camera, intrinsics);
-    double ex = reprojected_marker.x - markers[i].x;
-    double ey = reprojected_marker.y - markers[i].y;
+    double ex = (reprojected_marker.x - markers[i].x) * weight;
+    double ey = (reprojected_marker.y - markers[i].y) * weight;
 
     const int N = 100;
     char line[N];