diff --git a/internal/engine/report.go b/internal/engine/report.go
index 1ab3c83..a4f9949 100644
--- a/internal/engine/report.go
+++ b/internal/engine/report.go
@@ -357,20 +357,24 @@ func (rb *ReportBuilder) buildTimeline(reqID string, stories []state.Story) []Ti
 		storyIDSet[s.ID] = s.Title
 	}
 
+	// Previously this loop issued one List per (event-type × story-id) pair
+	// — 5 × len(stories) sequential queries. On JSONL stores that's 5N file
+	// reads; on SQLite it's 5N transactions. Issue ONE List per event type
+	// (no StoryID filter), then filter against storyIDSet in memory: 5
+	// queries total regardless of story count.
 	for _, evtType := range storyEventTypes {
-		for storyID, storyTitle := range storyIDSet {
-			evts, _ := rb.es.List(state.EventFilter{
-				Type:    evtType,
-				StoryID: storyID,
-			})
-			for _, evt := range evts {
-				entries = append(entries, TimelineEntry{
-					Timestamp:   evt.Timestamp,
-					EventType:   string(evt.Type),
-					StoryID:     storyID,
-					Description: rb.describeStoryEvent(evt.Type, storyTitle),
-				})
+		evts, _ := rb.es.List(state.EventFilter{Type: evtType})
+		for _, evt := range evts {
+			storyTitle, owned := storyIDSet[evt.StoryID]
+			if !owned {
+				continue
 			}
+			entries = append(entries, TimelineEntry{
+				Timestamp:   evt.Timestamp,
+				EventType:   string(evt.Type),
+				StoryID:     evt.StoryID,
+				Description: rb.describeStoryEvent(evt.Type, storyTitle),
+			})
 		}
 	}
 
diff --git a/internal/engine/report_test.go b/internal/engine/report_test.go
index 6d23c30..878d476 100644
--- a/internal/engine/report_test.go
+++ b/internal/engine/report_test.go
@@ -145,6 +145,40 @@ func setupReportStores(t *testing.T) (state.EventStore, *state.SQLiteStore, func
 	return es, ps, cleanup
 }
 
+// TestReportBuilder_Build_TimelineFiltersByStoryOwnership guards the
+// post-N+1 path: buildTimeline issues one List per event type (no StoryID
+// filter) and screens via storyIDSet in memory. The regression to prevent
+// is "events from stories belonging to OTHER requirements leak into the
+// timeline." Seed a STORY_MERGED for a foreign story id, then assert it is
+// NOT in the report.
+func TestReportBuilder_Build_TimelineFiltersByStoryOwnership(t *testing.T) {
+	es, ps, cleanup := setupReportStores(t)
+	defer cleanup()
+
+	// Foreign story id — does NOT appear in stories(req-001).
+	foreignMerged := state.NewEvent(state.EventStoryMerged, "merger", "FOREIGN-STORY-Z", nil)
+	if err := es.Append(foreignMerged); err != nil {
+		t.Fatalf("append foreign event: %v", err)
+	}
+	if err := ps.Project(foreignMerged); err != nil {
+		t.Fatalf("project foreign event: %v", err)
+	}
+
+	cfg := config.DefaultConfig()
+	rb := engine.NewReportBuilder(es, ps, cfg)
+
+	report, err := rb.Build("req-001")
+	if err != nil {
+		t.Fatalf("Build: %v", err)
+	}
+
+	for _, entry := range report.Timeline {
+		if entry.StoryID == "FOREIGN-STORY-Z" {
+			t.Fatalf("foreign story %q leaked into timeline (in-memory filter regression)", entry.StoryID)
+		}
+	}
+}
+
 func TestReportBuilder_Build_BasicFields(t *testing.T) {
 	es, ps, cleanup := setupReportStores(t)
 	defer cleanup()