diff --git a/src/features/recent-projects/main/adapters/input/http/registerRecentProjectsHttp.ts b/src/features/recent-projects/main/adapters/input/http/registerRecentProjectsHttp.ts
index 104ccb1a..afac9c48 100644
--- a/src/features/recent-projects/main/adapters/input/http/registerRecentProjectsHttp.ts
+++ b/src/features/recent-projects/main/adapters/input/http/registerRecentProjectsHttp.ts
@@ -10,18 +10,48 @@ import type { FastifyInstance } from 'fastify';
 
 const logger = createLogger('Feature:RecentProjects:HTTP');
 
+function getPayloadBytes(value: unknown): number {
+  try {
+    return Buffer.byteLength(JSON.stringify(value), 'utf8');
+  } catch {
+    return -1;
+  }
+}
+
+function getMemoryDiagnostics(): {
+  rssBytes: number;
+  heapUsedBytes: number;
+  heapTotalBytes: number;
+} {
+  const memory = process.memoryUsage();
+  return {
+    rssBytes: memory.rss,
+    heapUsedBytes: memory.heapUsed,
+    heapTotalBytes: memory.heapTotal,
+  };
+}
+
 export function registerRecentProjectsHttp(
   app: FastifyInstance,
   feature: RecentProjectsFeatureFacade
 ): void {
   app.get(DASHBOARD_RECENT_PROJECTS_ROUTE, async (): Promise<DashboardRecentProjectsPayload> => {
+    const startedAt = Date.now();
     try {
-      return (
-        normalizeDashboardRecentProjectsPayload(await feature.listDashboardRecentProjects()) ?? {
-          projects: [],
-          degraded: true,
-        }
-      );
+      const payload = normalizeDashboardRecentProjectsPayload(
+        await feature.listDashboardRecentProjects()
+      ) ?? {
+        projects: [],
+        degraded: true,
+      };
+      logger.info('dashboard recent-projects HTTP loaded', {
+        count: payload.projects.length,
+        degraded: payload.degraded,
+        durationMs: Date.now() - startedAt,
+        payloadBytes: getPayloadBytes(payload),
+        ...getMemoryDiagnostics(),
+      });
+      return payload;
     } catch (error) {
       logger.error('Failed to load dashboard recent projects via HTTP', error);
       return { projects: [], degraded: true };
diff --git a/src/features/recent-projects/main/adapters/input/ipc/registerRecentProjectsIpc.ts b/src/features/recent-projects/main/adapters/input/ipc/registerRecentProjectsIpc.ts
index a18ea436..00639cc5 100644
--- a/src/features/recent-projects/main/adapters/input/ipc/registerRecentProjectsIpc.ts
+++ b/src/features/recent-projects/main/adapters/input/ipc/registerRecentProjectsIpc.ts
@@ -9,18 +9,48 @@ import type { IpcMain } from 'electron';
 
 const logger = createLogger('Feature:RecentProjects:IPC');
 
+function getPayloadBytes(value: unknown): number {
+  try {
+    return Buffer.byteLength(JSON.stringify(value), 'utf8');
+  } catch {
+    return -1;
+  }
+}
+
+function getMemoryDiagnostics(): {
+  rssBytes: number;
+  heapUsedBytes: number;
+  heapTotalBytes: number;
+} {
+  const memory = process.memoryUsage();
+  return {
+    rssBytes: memory.rss,
+    heapUsedBytes: memory.heapUsed,
+    heapTotalBytes: memory.heapTotal,
+  };
+}
+
 export function registerRecentProjectsIpc(
   ipcMain: IpcMain,
   feature: RecentProjectsFeatureFacade
 ): void {
   ipcMain.handle(GET_DASHBOARD_RECENT_PROJECTS, async () => {
+    const startedAt = Date.now();
     try {
-      return (
-        normalizeDashboardRecentProjectsPayload(await feature.listDashboardRecentProjects()) ?? {
-          projects: [],
-          degraded: true,
-        }
-      );
+      const payload = normalizeDashboardRecentProjectsPayload(
+        await feature.listDashboardRecentProjects()
+      ) ?? {
+        projects: [],
+        degraded: true,
+      };
+      logger.info('dashboard recent-projects IPC loaded', {
+        count: payload.projects.length,
+        degraded: payload.degraded,
+        durationMs: Date.now() - startedAt,
+        payloadBytes: getPayloadBytes(payload),
+        ...getMemoryDiagnostics(),
+      });
+      return payload;
     } catch (error) {
       logger.error('Failed to load dashboard recent projects via IPC', error);
       return { projects: [], degraded: true };
diff --git a/src/features/recent-projects/main/adapters/output/sources/CodexSessionFileRecentProjectsSourceAdapter.ts b/src/features/recent-projects/main/adapters/output/sources/CodexSessionFileRecentProjectsSourceAdapter.ts
index 2258fc39..cb7c54bc 100644
--- a/src/features/recent-projects/main/adapters/output/sources/CodexSessionFileRecentProjectsSourceAdapter.ts
+++ b/src/features/recent-projects/main/adapters/output/sources/CodexSessionFileRecentProjectsSourceAdapter.ts
@@ -23,6 +23,7 @@ const CODEX_SESSION_FILE_SOFT_BUDGET_MS = 6_500;
 const CODEX_SESSION_FILE_MAX_UNCACHED_READS_PER_RUN = 160;
 const CODEX_SESSION_FILE_READ_BATCH_SIZE = 24;
 const CODEX_SESSION_FILE_READ_TIMEOUT_MS = 700;
+const CODEX_SESSION_FILE_DISCOVERY_STAT_BATCH_SIZE = 64;
 const CODEX_SESSION_METADATA_READ_LIMIT_BYTES = 128 * 1024;
 const CODEX_SESSION_FILE_CACHE_SCHEMA_VERSION = 1;
 const CODEX_SESSION_FILE_CACHE_RELATIVE_PATH = path.join(
@@ -80,6 +81,11 @@ interface CodexSessionSnapshotLoadResult {
   degraded: boolean;
   stats: {
     files: number;
+    visitedFiles: number;
+    droppedOlderFiles: number;
+    statFailures: number;
+    directoriesVisited: number;
+    discoveryTimedOut: boolean;
     cached: number;
     uncachedReads: number;
     timedOutReads: number;
@@ -88,6 +94,14 @@ interface CodexSessionSnapshotLoadResult {
   };
 }
 
+interface CodexSessionFileListingResult {
+  files: CodexSessionFileEntry[];
+  visitedFiles: number;
+  statFailures: number;
+  directoriesVisited: number;
+  timedOut: boolean;
+}
+
 function emptyCache(): CodexSessionFileCacheFile {
   return {
     schemaVersion: CODEX_SESSION_FILE_CACHE_SCHEMA_VERSION,
@@ -95,6 +109,21 @@ function emptyCache(): CodexSessionFileCacheFile {
   };
 }
 
+function captureMemoryDiagnostics(): {
+  rssBytes: number;
+  heapUsedBytes: number;
+  heapTotalBytes: number;
+  externalBytes: number;
+} {
+  const memory = process.memoryUsage();
+  return {
+    rssBytes: memory.rss,
+    heapUsedBytes: memory.heapUsed,
+    heapTotalBytes: memory.heapTotal,
+    externalBytes: memory.external,
+  };
+}
+
 function isUsableCacheEntry(
   entry: CodexSessionFileCacheEntry | undefined,
   file: CodexSessionFileEntry
@@ -211,45 +240,149 @@ async function readFirstLineWithTimeout(
   return result;
 }
 
-async function listJsonlFiles(root: string, maxDepth: number): Promise<CodexSessionFileEntry[]> {
-  async function walk(directory: string, depth: number): Promise<CodexSessionFileEntry[]> {
+function insertRecentSessionFile(
+  files: CodexSessionFileEntry[],
+  file: CodexSessionFileEntry,
+  limit: number
+): void {
+  if (limit <= 0) {
+    return;
+  }
+
+  if (files.length >= limit && file.mtimeMs <= files[files.length - 1].mtimeMs) {
+    return;
+  }
+
+  let low = 0;
+  let high = files.length;
+  while (low < high) {
+    const mid = Math.floor((low + high) / 2);
+    if (file.mtimeMs > files[mid].mtimeMs) {
+      high = mid;
+    } else {
+      low = mid + 1;
+    }
+  }
+
+  files.splice(low, 0, file);
+  if (files.length > limit) {
+    files.pop();
+  }
+}
+
+function selectMostRecentSessionFiles(
+  files: CodexSessionFileEntry[],
+  limit: number
+): CodexSessionFileEntry[] {
+  const selected: CodexSessionFileEntry[] = [];
+  for (const file of files) {
+    insertRecentSessionFile(selected, file, limit);
+  }
+  return selected;
+}
+
+async function listRecentJsonlFiles(
+  root: string,
+  maxDepth: number,
+  limit: number,
+  deadlineMs: number
+): Promise<CodexSessionFileListingResult> {
+  const selectedFiles: CodexSessionFileEntry[] = [];
+  let visitedFiles = 0;
+  let statFailures = 0;
+  let directoriesVisited = 0;
+  let timedOut = false;
+
+  const hasBudget = (): boolean => {
+    if (Date.now() < deadlineMs) {
+      return true;
+    }
+    timedOut = true;
+    return false;
+  };
+
+  async function statJsonlFile(filePath: string): Promise<CodexSessionFileEntry | null> {
+    if (!hasBudget()) {
+      return null;
+    }
+    visitedFiles += 1;
+    try {
+      const stats = await fs.stat(filePath);
+      return {
+        filePath,
+        mtimeMs: stats.mtimeMs,
+        size: stats.size,
+      };
+    } catch {
+      statFailures += 1;
+      return null;
+    }
+  }
+
+  async function collectFileStats(filePaths: string[]): Promise<void> {
+    for (
+      let offset = 0;
+      offset < filePaths.length && hasBudget();
+      offset += CODEX_SESSION_FILE_DISCOVERY_STAT_BATCH_SIZE
+    ) {
+      const batch = filePaths.slice(offset, offset + CODEX_SESSION_FILE_DISCOVERY_STAT_BATCH_SIZE);
+      const stats = await Promise.all(batch.map((filePath) => statJsonlFile(filePath)));
+      for (const file of stats) {
+        if (file) {
+          insertRecentSessionFile(selectedFiles, file, limit);
+        }
+      }
+    }
+  }
+
+  async function walk(directory: string, depth: number): Promise<void> {
+    if (!hasBudget()) {
+      return;
+    }
     let entries;
     try {
       entries = await fs.readdir(directory, { withFileTypes: true, encoding: 'utf8' });
     } catch {
-      return [];
+      return;
     }
 
-    const files = await Promise.all(
-      entries.map(async (entry): Promise<CodexSessionFileEntry[]> => {
-        const entryPath = path.join(directory, entry.name);
-        if (entry.isDirectory()) {
-          return depth < maxDepth ? walk(entryPath, depth + 1) : [];
-        }
+    directoriesVisited += 1;
+    const filePaths: string[] = [];
+    const childDirectories: string[] = [];
 
-        if (!entry.isFile() || !entry.name.endsWith('.jsonl')) {
-          return [];
+    for (const entry of entries) {
+      const entryPath = path.join(directory, entry.name);
+      if (entry.isDirectory()) {
+        if (depth < maxDepth) {
+          childDirectories.push(entryPath);
         }
+        continue;
+      }
 
-        try {
-          const stats = await fs.stat(entryPath);
-          return [
-            {
-              filePath: entryPath,
-              mtimeMs: stats.mtimeMs,
-              size: stats.size,
-            },
-          ];
-        } catch {
-          return [];
-        }
-      })
-    );
+      if (entry.isFile() && entry.name.endsWith('.jsonl')) {
+        filePaths.push(entryPath);
+      }
+    }
 
-    return files.flat();
+    await collectFileStats(filePaths);
+
+    for (const childDirectory of childDirectories) {
+      if (!hasBudget()) {
+        return;
+      }
+      await walk(childDirectory, depth + 1);
+    }
   }
 
-  return walk(root, 0);
+  await walk(root, 0);
+
+  return {
+    files: selectedFiles,
+    visitedFiles,
+    statFailures,
+    directoriesVisited,
+    timedOut,
+  };
 }
 
 function parseSessionSnapshot(
@@ -294,6 +427,7 @@ export class CodexSessionFileRecentProjectsSourceAdapter implements RecentProjec
   readonly timeoutMs = CODEX_SESSION_FILE_SOURCE_TIMEOUT_MS;
   readonly #codexHome: string;
   readonly #cachePath: string;
+  #inFlightList: Promise<RecentProjectsSourceResult> | null = null;
 
   constructor(
     private readonly deps: {
@@ -313,6 +447,20 @@ export class CodexSessionFileRecentProjectsSourceAdapter implements RecentProjec
   }
 
   async list(): Promise<RecentProjectsSourceResult> {
+    if (this.#inFlightList) {
+      return this.#inFlightList;
+    }
+
+    const request = this.#listUncached().finally(() => {
+      if (this.#inFlightList === request) {
+        this.#inFlightList = null;
+      }
+    });
+    this.#inFlightList = request;
+    return request;
+  }
+
+  async #listUncached(): Promise<RecentProjectsSourceResult> {
     const activeContext = this.deps.getActiveContext();
     const localContext = this.deps.getLocalContext();
 
@@ -339,6 +487,7 @@ export class CodexSessionFileRecentProjectsSourceAdapter implements RecentProjec
         count: validCandidates.length,
         codexHome: this.#codexHome,
         degraded: snapshotResult.degraded,
+        ...captureMemoryDiagnostics(),
         ...snapshotResult.stats,
       });
 
@@ -361,16 +510,34 @@ export class CodexSessionFileRecentProjectsSourceAdapter implements RecentProjec
   async #listRecentSessionSnapshots(): Promise<CodexSessionSnapshotLoadResult> {
     const startedAt = Date.now();
     const deadline = startedAt + CODEX_SESSION_FILE_SOFT_BUDGET_MS;
-    const files = [
-      ...(await listJsonlFiles(path.join(this.#codexHome, 'sessions'), 4)),
-      ...(await listJsonlFiles(path.join(this.#codexHome, 'archived_sessions'), 1)),
-    ].sort((left, right) => right.mtimeMs - left.mtimeMs);
+    const sessionFiles = await listRecentJsonlFiles(
+      path.join(this.#codexHome, 'sessions'),
+      4,
+      CODEX_SESSION_FILE_PARSE_LIMIT,
+      deadline
+    );
+    const archivedSessionFiles = await listRecentJsonlFiles(
+      path.join(this.#codexHome, 'archived_sessions'),
+      1,
+      CODEX_SESSION_FILE_PARSE_LIMIT,
+      deadline
+    );
+    const files = selectMostRecentSessionFiles(
+      [...sessionFiles.files, ...archivedSessionFiles.files],
+      CODEX_SESSION_FILE_PARSE_LIMIT
+    );
+    const visitedFiles = sessionFiles.visitedFiles + archivedSessionFiles.visitedFiles;
+    const statFailures = sessionFiles.statFailures + archivedSessionFiles.statFailures;
+    const directoriesVisited =
+      sessionFiles.directoriesVisited + archivedSessionFiles.directoriesVisited;
+    const droppedOlderFiles = Math.max(0, visitedFiles - statFailures - files.length);
+    const discoveryTimedOut = sessionFiles.timedOut || archivedSessionFiles.timedOut;
 
     const snapshotsByCwd = new Map<string, CodexSessionProjectSnapshot>();
-    const candidateFiles = files.slice(0, CODEX_SESSION_FILE_PARSE_LIMIT);
+    const candidateFiles = files;
     const cache = await this.#readCacheSafe();
     const nextCacheEntries = new Map<string, CodexSessionFileCacheEntry>();
-    let degraded = false;
+    let degraded = discoveryTimedOut;
     let cached = 0;
     let uncachedReads = 0;
     let timedOutReads = 0;
@@ -454,6 +621,12 @@ export class CodexSessionFileRecentProjectsSourceAdapter implements RecentProjec
     if (degraded) {
       this.deps.logger.warn('codex session-file recent-projects source partial', {
         files: candidateFiles.length,
+        visitedFiles,
+        droppedOlderFiles,
+        statFailures,
+        directoriesVisited,
+        discoveryTimedOut,
+        ...captureMemoryDiagnostics(),
         cached,
         uncachedReads,
         timedOutReads,
@@ -468,6 +641,11 @@ export class CodexSessionFileRecentProjectsSourceAdapter implements RecentProjec
       degraded,
       stats: {
         files: candidateFiles.length,
+        visitedFiles,
+        droppedOlderFiles,
+        statFailures,
+        directoriesVisited,
+        discoveryTimedOut,
         cached,
         uncachedReads,
         timedOutReads,
diff --git a/test/features/recent-projects/main/adapters/output/CodexSessionFileRecentProjectsSourceAdapter.test.ts b/test/features/recent-projects/main/adapters/output/CodexSessionFileRecentProjectsSourceAdapter.test.ts
index 691edafe..5c31443e 100644
--- a/test/features/recent-projects/main/adapters/output/CodexSessionFileRecentProjectsSourceAdapter.test.ts
+++ b/test/features/recent-projects/main/adapters/output/CodexSessionFileRecentProjectsSourceAdapter.test.ts
@@ -57,6 +57,20 @@ async function writeRollout(
   await fs.utimes(filePath, mtime, mtime);
 }
 
+function deferred<T>(): {
+  promise: Promise<T>;
+  resolve: (value: T) => void;
+  reject: (error: unknown) => void;
+} {
+  let resolve!: (value: T) => void;
+  let reject!: (error: unknown) => void;
+  const promise = new Promise<T>((promiseResolve, promiseReject) => {
+    resolve = promiseResolve;
+    reject = promiseReject;
+  });
+  return { promise, resolve, reject };
+}
+
 describe('CodexSessionFileRecentProjectsSourceAdapter', () => {
   let tempDir: string;
 
@@ -338,6 +352,43 @@ describe('CodexSessionFileRecentProjectsSourceAdapter', () => {
     expect(openSpy).not.toHaveBeenCalled();
   });
 
+  it('coalesces concurrent Codex session-file source reads', async () => {
+    const codexHome = path.join(tempDir, '.codex');
+    const logger = createLogger();
+    const resolveResult = deferred<null>();
+    const identityResolver = {
+      resolve: vi.fn().mockReturnValue(resolveResult.promise),
+    } as unknown as RecentProjectIdentityResolver;
+    await writeRollout(
+      path.join(codexHome, 'sessions', '2026', '04', '14', 'rollout-alpha.jsonl'),
+      {
+        cwd: '/Users/test/projects/alpha',
+        branch: 'main',
+      },
+      new Date('2026-04-14T12:00:00.000Z')
+    );
+
+    const adapter = new CodexSessionFileRecentProjectsSourceAdapter({
+      getActiveContext: () => ({ type: 'local', id: 'local-1' }) as never,
+      getLocalContext: () => ({ type: 'local', id: 'local-1' }) as never,
+      identityResolver,
+      logger,
+      codexHome,
+      appDataPath: path.join(tempDir, 'app-data'),
+    });
+
+    const first = adapter.list();
+    await vi.waitFor(() => expect(identityResolver.resolve).toHaveBeenCalledTimes(1));
+    const second = adapter.list();
+
+    resolveResult.resolve(null);
+    await expect(Promise.all([first, second])).resolves.toEqual([
+      expect.objectContaining({ degraded: false }),
+      expect.objectContaining({ degraded: false }),
+    ]);
+    expect(identityResolver.resolve).toHaveBeenCalledTimes(1);
+  });
+
   it('invalidates cached session metadata when the jsonl fingerprint changes', async () => {
     const codexHome = path.join(tempDir, '.codex');
     const appDataPath = path.join(tempDir, 'app-data');
@@ -575,6 +626,54 @@ describe('CodexSessionFileRecentProjectsSourceAdapter', () => {
     ]);
   });
 
+  it('bounds discovered Codex session files before reading metadata', async () => {
+    const codexHome = path.join(tempDir, '.codex');
+    const appDataPath = path.join(tempDir, 'app-data');
+    const logger = createLogger();
+    const identityResolver = {
+      resolve: vi.fn().mockResolvedValue(null),
+    } as unknown as RecentProjectIdentityResolver;
+    const baseTime = Date.parse('2026-04-14T12:00:00.000Z');
+
+    await Promise.all(
+      Array.from({ length: 505 }).map((_, index) =>
+        writeRollout(
+          path.join(codexHome, 'sessions', '2026', '04', '14', `rollout-alpha-${index}.jsonl`),
+          {
+            cwd: '/Users/test/projects/alpha',
+            branch: 'main',
+          },
+          new Date(baseTime - index * 1000)
+        )
+      )
+    );
+
+    const adapter = new CodexSessionFileRecentProjectsSourceAdapter({
+      getActiveContext: () => ({ type: 'local', id: 'local-1' }) as never,
+      getLocalContext: () => ({ type: 'local', id: 'local-1' }) as never,
+      identityResolver,
+      logger,
+      codexHome,
+      appDataPath,
+    });
+    const result = await adapter.list();
+
+    expect(result.degraded).toBe(true);
+    expect(result.candidates.map((candidate) => candidate.primaryPath)).toEqual([
+      '/Users/test/projects/alpha',
+    ]);
+    expect(logger.warn).toHaveBeenCalledWith(
+      'codex session-file recent-projects source partial',
+      expect.objectContaining({
+        files: 500,
+        visitedFiles: 505,
+        droppedOlderFiles: 5,
+        uncachedReads: 160,
+        skippedUncached: 340,
+      })
+    );
+  });
+
   it('skips non-interactive and ephemeral sessions', async () => {
     const codexHome = path.join(tempDir, '.codex');
     const logger = createLogger();