diff --git a/cmd/metacache-entries.go b/cmd/metacache-entries.go
index f0f26534b..c3eec6738 100644
--- a/cmd/metacache-entries.go
+++ b/cmd/metacache-entries.go
@@ -281,10 +281,16 @@ func (m metaCacheEntries) shallowClone() metaCacheEntries {
 }
 
 type metadataResolutionParams struct {
-	dirQuorum int    // Number if disks needed for a directory to 'exist'.
-	objQuorum int    // Number of disks needed for an object to 'exist'.
-	bucket    string // Name of the bucket. Used for generating cached fileinfo.
-	strict    bool   // Versions must match exactly, including all metadata.
+	dirQuorum int // Number if disks needed for a directory to 'exist'.
+	objQuorum int // Number of disks needed for an object to 'exist'.
+
+	// An optimization request only an 'n' amount of versions from xl.meta
+	// to avoid resolving all versions to figure out the latest 'version'
+	// for ListObjects, ListObjectsV2
+	requestedVersions int
+
+	bucket string // Name of the bucket. Used for generating cached fileinfo.
+	strict bool   // Versions must match exactly, including all metadata.
 
 	// Reusable slice for resolution
 	candidates [][]xlMetaV2ShallowVersion
@@ -372,7 +378,7 @@ func (m metaCacheEntries) resolve(r *metadataResolutionParams) (selected *metaCa
 		reusable: true,
 		cached:   &xlMetaV2{metaV: selected.cached.metaV},
 	}
-	selected.cached.versions = mergeXLV2Versions(r.objQuorum, r.strict, r.candidates...)
+	selected.cached.versions = mergeXLV2Versions(r.objQuorum, r.strict, r.requestedVersions, r.candidates...)
 	if len(selected.cached.versions) == 0 {
 		return nil, false
 	}
diff --git a/cmd/metacache-set.go b/cmd/metacache-set.go
index 7a03c081a..f73bcfd28 100644
--- a/cmd/metacache-set.go
+++ b/cmd/metacache-set.go
@@ -571,6 +571,13 @@ func (er *erasureObjects) listPath(ctx context.Context, o listPathOptions, resul
 		bucket:    o.Bucket,
 	}
 
+	// Maximum versions requested for "latest" object
+	// resolution on versioned buckets, this is to be only
+	// used when o.Versioned is false
+	if !o.Versioned {
+		resolver.requestedVersions = 1
+	}
+
 	ctxDone := ctx.Done()
 	return listPathRaw(ctx, listPathRawOptions{
 		disks:         disks,
diff --git a/cmd/xl-storage-format-v2.go b/cmd/xl-storage-format-v2.go
index 2e5ea3d0c..4d04cb841 100644
--- a/cmd/xl-storage-format-v2.go
+++ b/cmd/xl-storage-format-v2.go
@@ -1691,7 +1691,7 @@ func (x xlMetaV2) ListVersions(volume, path string) ([]FileInfo, error) {
 // Quorum must be the minimum number of matching metadata files.
 // Quorum should be > 1 and <= len(versions).
 // If strict is set to false, entries that match type
-func mergeXLV2Versions(quorum int, strict bool, versions ...[]xlMetaV2ShallowVersion) (merged []xlMetaV2ShallowVersion) {
+func mergeXLV2Versions(quorum int, strict bool, requestedVersions int, versions ...[]xlMetaV2ShallowVersion) (merged []xlMetaV2ShallowVersion) {
 	if quorum <= 0 {
 		quorum = 1
 	}
@@ -1708,6 +1708,8 @@ func mergeXLV2Versions(quorum int, strict bool, versions ...[]xlMetaV2ShallowVer
 	// Shallow copy input
 	versions = append(make([][]xlMetaV2ShallowVersion, 0, len(versions)), versions...)
 
+	var nVersions int // captures all non-free versions
+
 	// Our result
 	merged = make([]xlMetaV2ShallowVersion, 0, len(versions[0]))
 	tops := make([]xlMetaV2ShallowVersion, len(versions))
@@ -1744,6 +1746,12 @@ func mergeXLV2Versions(quorum int, strict bool, versions ...[]xlMetaV2ShallowVer
 			latest = tops[0]
 			latestCount = len(tops)
 			merged = append(merged, latest)
+
+			// Calculate latest 'n' non-free versions.
+			if !latest.header.FreeVersion() {
+				nVersions++
+			}
+
 		} else {
 			// Find latest.
 			for i, ver := range tops {
@@ -1807,6 +1815,11 @@ func mergeXLV2Versions(quorum int, strict bool, versions ...[]xlMetaV2ShallowVer
 			}
 			if latestCount >= quorum {
 				merged = append(merged, latest)
+
+				// Calculate latest 'n' non-free versions.
+				if !latest.header.FreeVersion() {
+					nVersions++
+				}
 			}
 		}
 
@@ -1840,7 +1853,13 @@ func mergeXLV2Versions(quorum int, strict bool, versions ...[]xlMetaV2ShallowVer
 				break
 			}
 		}
+
+		if requestedVersions > 0 && requestedVersions == nVersions {
+			merged = append(merged, versions[0]...)
+			break
+		}
 	}
+
 	// Sanity check. Enable if duplicates show up.
 	if false {
 		found := make(map[[16]byte]struct{})
diff --git a/cmd/xl-storage-format-v2_test.go b/cmd/xl-storage-format-v2_test.go
index c5727210c..5516dbe0f 100644
--- a/cmd/xl-storage-format-v2_test.go
+++ b/cmd/xl-storage-format-v2_test.go
@@ -401,6 +401,55 @@ func TestDeleteVersionWithSharedDataDir(t *testing.T) {
 	}
 }
 
+func Benchmark_mergeXLV2Versions(b *testing.B) {
+	data, err := ioutil.ReadFile("testdata/xl.meta-v1.2.zst")
+	if err != nil {
+		b.Fatal(err)
+	}
+	dec, _ := zstd.NewReader(nil)
+	data, err = dec.DecodeAll(data, nil)
+	if err != nil {
+		b.Fatal(err)
+	}
+
+	var xl xlMetaV2
+	if err = xl.LoadOrConvert(data); err != nil {
+		b.Fatal(err)
+	}
+
+	vers := make([][]xlMetaV2ShallowVersion, 16)
+	for i := range vers {
+		vers[i] = xl.versions
+	}
+
+	b.Run("requested-none", func(b *testing.B) {
+		b.ReportAllocs()
+		b.ResetTimer()
+		b.SetBytes(855) // number of versions...
+		for i := 0; i < b.N; i++ {
+			mergeXLV2Versions(8, false, 0, vers...)
+		}
+	})
+
+	b.Run("requested-v1", func(b *testing.B) {
+		b.ReportAllocs()
+		b.ResetTimer()
+		b.SetBytes(855) // number of versions...
+		for i := 0; i < b.N; i++ {
+			mergeXLV2Versions(8, false, 1, vers...)
+		}
+	})
+
+	b.Run("requested-v2", func(b *testing.B) {
+		b.ReportAllocs()
+		b.ResetTimer()
+		b.SetBytes(855) // number of versions...
+		for i := 0; i < b.N; i++ {
+			mergeXLV2Versions(8, false, 1, vers...)
+		}
+	})
+}
+
 func Benchmark_xlMetaV2Shallow_Load(b *testing.B) {
 	data, err := ioutil.ReadFile("testdata/xl.meta-v1.2.zst")
 	if err != nil {
@@ -424,6 +473,7 @@ func Benchmark_xlMetaV2Shallow_Load(b *testing.B) {
 			}
 		}
 	})
+
 	b.Run("indexed", func(b *testing.B) {
 		var xl xlMetaV2
 		err = xl.Load(data)
@@ -550,7 +600,7 @@ func Test_mergeXLV2Versions(t *testing.T) {
 
 	for i := range vers {
 		t.Run(fmt.Sprintf("non-strict-q%d", i), func(t *testing.T) {
-			merged := mergeXLV2Versions(i, false, vers...)
+			merged := mergeXLV2Versions(i, false, 0, vers...)
 			if len(merged) == 0 {
 				t.Error("Did not get any results")
 				return
@@ -562,7 +612,7 @@ func Test_mergeXLV2Versions(t *testing.T) {
 			}
 		})
 		t.Run(fmt.Sprintf("strict-q%d", i), func(t *testing.T) {
-			merged := mergeXLV2Versions(i, true, vers...)
+			merged := mergeXLV2Versions(i, true, 0, vers...)
 			if len(merged) == 0 {
 				t.Error("Did not get any results")
 				return
@@ -584,7 +634,7 @@ func Test_mergeXLV2Versions(t *testing.T) {
 				}
 				vMod = append(vMod, newVers)
 			}
-			merged := mergeXLV2Versions(i, false, vMod...)
+			merged := mergeXLV2Versions(i, false, 0, vMod...)
 			if len(merged) == 0 {
 				t.Error("Did not get any results")
 				return
@@ -606,7 +656,7 @@ func Test_mergeXLV2Versions(t *testing.T) {
 				}
 				vMod = append(vMod, newVers)
 			}
-			merged := mergeXLV2Versions(i, false, vMod...)
+			merged := mergeXLV2Versions(i, false, 0, vMod...)
 			if len(merged) == 0 && i < 2 {
 				t.Error("Did not get any results")
 				return
@@ -632,7 +682,7 @@ func Test_mergeXLV2Versions(t *testing.T) {
 				}
 				vMod = append(vMod, newVers)
 			}
-			merged := mergeXLV2Versions(i, false, vMod...)
+			merged := mergeXLV2Versions(i, false, 0, vMod...)
 			if len(merged) == 0 {
 				t.Error("Did not get any results")
 				return
@@ -654,7 +704,7 @@ func Test_mergeXLV2Versions(t *testing.T) {
 				}
 				vMod = append(vMod, newVers)
 			}
-			merged := mergeXLV2Versions(i, false, vMod...)
+			merged := mergeXLV2Versions(i, false, 0, vMod...)
 			if len(merged) == 0 && i < 2 {
 				t.Error("Did not get any results")
 				return
@@ -680,7 +730,7 @@ func Test_mergeXLV2Versions(t *testing.T) {
 				}
 				vMod = append(vMod, newVers)
 			}
-			merged := mergeXLV2Versions(i, true, vMod...)
+			merged := mergeXLV2Versions(i, true, 0, vMod...)
 			if len(merged) == 0 && i < 2 {
 				t.Error("Did not get any results")
 				return
@@ -706,7 +756,7 @@ func Test_mergeXLV2Versions(t *testing.T) {
 				}
 				vMod = append(vMod, newVers)
 			}
-			merged := mergeXLV2Versions(i, true, vMod...)
+			merged := mergeXLV2Versions(i, true, 0, vMod...)
 			if len(merged) == 0 && i < 2 {
 				t.Error("Did not get any results")
 				return
@@ -732,7 +782,7 @@ func Test_mergeXLV2Versions(t *testing.T) {
 				}
 				vMod = append(vMod, newVers)
 			}
-			merged := mergeXLV2Versions(i, true, vMod...)
+			merged := mergeXLV2Versions(i, true, 0, vMod...)
 			if len(merged) == 0 && i < 2 {
 				t.Error("Did not get any results")
 				return
@@ -758,7 +808,7 @@ func Test_mergeXLV2Versions(t *testing.T) {
 				}
 				vMod = append(vMod, newVers)
 			}
-			merged := mergeXLV2Versions(i, true, vMod...)
+			merged := mergeXLV2Versions(i, true, 0, vMod...)
 			if len(merged) == 0 && i < 2 {
 				t.Error("Did not get any results")
 				return