diff --git a/include/xrpl/ledger/detail/ApplyStateTable.h b/include/xrpl/ledger/detail/ApplyStateTable.h
index 07af5247f6..ca12e45b47 100644
--- a/include/xrpl/ledger/detail/ApplyStateTable.h
+++ b/include/xrpl/ledger/detail/ApplyStateTable.h
@@ -64,6 +64,11 @@ public:
     std::shared_ptr<SLE const>
     read(ReadView const& base, Keylet const& k) const;
 
+    /** Check only local items without delegating to base.
+    Returns std::nullopt if key not found locally. */
+    std::optional<std::shared_ptr<SLE const>>
+    readLocal(Keylet const& k) const;
+
     std::shared_ptr<SLE>
     peek(ReadView const& base, Keylet const& k);
 
diff --git a/src/libxrpl/ledger/ApplyStateTable.cpp b/src/libxrpl/ledger/ApplyStateTable.cpp
index 9892951e15..b71d02c271 100644
--- a/src/libxrpl/ledger/ApplyStateTable.cpp
+++ b/src/libxrpl/ledger/ApplyStateTable.cpp
@@ -330,24 +330,12 @@ ApplyStateTable::read(ReadView const& base, Keylet const& k) const
     return sle;
 }
 
-std::shared_ptr<SLE>
-ApplyStateTable::peek(ReadView const& base, Keylet const& k)
+std::optional<std::shared_ptr<SLE const>>
+ApplyStateTable::readLocal(Keylet const& k) const
 {
-    auto iter = items_.lower_bound(k.key);
-    if (iter == items_.end() || iter->first != k.key)
-    {
-        auto const sle = base.read(k);
-        if (!sle)
-            return nullptr;
-        // Make our own copy
-        using namespace std;
-        iter = items_.emplace_hint(
-            iter,
-            piecewise_construct,
-            forward_as_tuple(sle->key()),
-            forward_as_tuple(Action::cache, make_shared<SLE>(*sle)));
-        return iter->second.second;
-    }
+    auto const iter = items_.find(k.key);
+    if (iter == items_.end())
+        return std::nullopt;
     auto const& item = iter->second;
     auto const& sle = item.second;
     switch (item.first)
@@ -361,6 +349,7 @@ ApplyStateTable::peek(ReadView const& base, Keylet const& k)
     };
     if (!k.check(*sle))
         return nullptr;
+
     return sle;
 }
 
diff --git a/src/libxrpl/ledger/ApplyViewBase.cpp b/src/libxrpl/ledger/ApplyViewBase.cpp
index ecb5180557..2299decc32 100644
--- a/src/libxrpl/ledger/ApplyViewBase.cpp
+++ b/src/libxrpl/ledger/ApplyViewBase.cpp
@@ -48,7 +48,24 @@ ApplyViewBase::succ(key_type const& key, std::optional<key_type> const& last) co
 std::shared_ptr<SLE const>
 ApplyViewBase::read(Keylet const& k) const
 {
-    return items_.read(*base_, k);
+    // Iteratively walk up the chain of ApplyViewBase layers
+    // instead of recursing through items_.read(*base_, k).
+    auto const* current = this;
+    while (current)
+    {
+        if (auto result = current->items_.readLocal(k))
+            return *result;
+
+        // Check if the base is another ApplyViewBase layer
+        auto const* next = dynamic_cast<ApplyViewBase const*>(current->base_);
+        if (!next)
+            return current->base_->read(k);
+        current = next;
+    }
+    // Unreachable: current starts as `this` (non-null) and the loop
+    // always returns before current could become null.
+    UNREACHABLE("xrpl::ApplyViewBase::read : unreachable");
+    return nullptr;
 }
 
 auto