diff --git a/libraries/stdlib/common/src/generated/_Sequences.kt b/libraries/stdlib/common/src/generated/_Sequences.kt
index 9f4a78dc054..a9245b4a1d0 100644
--- a/libraries/stdlib/common/src/generated/_Sequences.kt
+++ b/libraries/stdlib/common/src/generated/_Sequences.kt
@@ -805,7 +805,16 @@ public fun <T> Sequence<T>.toHashSet(): HashSet<T> {
  * The operation is _terminal_.
  */
 public fun <T> Sequence<T>.toList(): List<T> {
-    return this.toMutableList().optimizeReadOnlyList()
+    val it = iterator()
+    if (!it.hasNext())
+        return emptyList()
+    val element = it.next()
+    if (!it.hasNext())
+        return listOf(element)
+    val dst = ArrayList<T>()
+    dst.add(element)
+    while (it.hasNext()) dst.add(it.next())
+    return dst
 }
 
 /**
@@ -825,7 +834,16 @@ public fun <T> Sequence<T>.toMutableList(): MutableList<T> {
  * The operation is _terminal_.
  */
 public fun <T> Sequence<T>.toSet(): Set<T> {
-    return toCollection(LinkedHashSet<T>()).optimizeReadOnlySet()
+    val it = iterator()
+    if (!it.hasNext())
+        return emptySet()
+    val element = it.next()
+    if (!it.hasNext())
+        return setOf(element)
+    val dst = LinkedHashSet<T>()
+    dst.add(element)
+    while (it.hasNext()) dst.add(it.next())
+    return dst
 }
 
 /**
diff --git a/libraries/stdlib/test/collections/SequenceTest.kt b/libraries/stdlib/test/collections/SequenceTest.kt
index 9ae24f556f8..84b169ca8d7 100644
--- a/libraries/stdlib/test/collections/SequenceTest.kt
+++ b/libraries/stdlib/test/collections/SequenceTest.kt
@@ -1,5 +1,5 @@
 /*
- * Copyright 2010-2020 JetBrains s.r.o. and Kotlin Programming Language contributors.
+ * Copyright 2010-2023 JetBrains s.r.o. and Kotlin Programming Language contributors.
  * Use of this source code is governed by the Apache 2.0 license that can be found in the license/LICENSE.txt file.
  */
 
@@ -745,6 +745,20 @@ public class SequenceTest {
         assertNull(fibonacci().take(10).firstNotNullOfOrNull { it.doubleIfNotMonodigit() })
     }
 
+    @Test fun toSet() {
+        assertEquals(emptySet(), emptySequence<Int>().toSet())
+        assertEquals(setOf(42), sequenceOf(42).toSet())
+        assertEquals(setOf(3, 2, 1), sequenceOf(3, 2, 1).toSet())
+        assertEquals(setOf(1, 2, 3), sequenceOf(1, 2, 1, 3, 2, 3).toSet())
+    }
+
+    @Test fun toList() {
+        assertEquals(emptyList(), emptySequence<Int>().toList())
+        assertEquals(listOf(42), sequenceOf(42).toList())
+        assertEquals(listOf(3, 2, 1), sequenceOf(3, 2, 1).toList())
+        assertEquals(listOf(1, 2, 1, 3, 2, 3), sequenceOf(1, 2, 1, 3, 2, 3).toList())
+    }
+
     /*
     test fun pairIterator() {
         val pairStr = (fibonacci() zip fibonacci().map { i -> i*2 }).joinToString(limit = 10)
diff --git a/libraries/tools/kotlin-stdlib-gen/src/templates/Snapshots.kt b/libraries/tools/kotlin-stdlib-gen/src/templates/Snapshots.kt
index 6a73dbf779b..3f58410a326 100644
--- a/libraries/tools/kotlin-stdlib-gen/src/templates/Snapshots.kt
+++ b/libraries/tools/kotlin-stdlib-gen/src/templates/Snapshots.kt
@@ -1,5 +1,5 @@
 /*
- * Copyright 2010-2018 JetBrains s.r.o. and Kotlin Programming Language contributors.
+ * Copyright 2010-2023 JetBrains s.r.o. and Kotlin Programming Language contributors.
  * Use of this source code is governed by the Apache 2.0 license that can be found in the license/LICENSE.txt file.
  */
 
@@ -35,6 +35,20 @@ object Snapshots : TemplateGroupBase() {
         }
     }
 
+    private fun optimizedSequenceToCollection(emptyFactory: String, singleElementFactory: String, dstType: String) =
+        """
+        val it = iterator()
+        if (!it.hasNext())
+            return $emptyFactory()
+        val element = it.next()
+        if (!it.hasNext())
+            return $singleElementFactory(element)
+        val dst = $dstType<T>()
+        dst.add(element)
+        while (it.hasNext()) dst.add(it.next())
+        return dst
+        """
+
     val f_toSet = fn("toSet()") {
         includeDefault()
         include(CharSequences)
@@ -59,8 +73,7 @@ object Snapshots : TemplateGroupBase() {
             return toCollection(LinkedHashSet<T>()).optimizeReadOnlySet()
             """
         }
-        body(Sequences) { "return toCollection(LinkedHashSet<T>()).optimizeReadOnlySet()" }
-
+        body(Sequences) { optimizedSequenceToCollection("emptySet", "setOf", "LinkedHashSet") }
         body(CharSequences, ArraysOfObjects, ArraysOfPrimitives) {
             val size = f.code.size
             val capacity = if (f == CharSequences || primitive == PrimitiveType.Char) "$size.coerceAtMost(128)" else size
@@ -169,6 +182,7 @@ object Snapshots : TemplateGroupBase() {
             }
             """
         }
+        body(Sequences) { optimizedSequenceToCollection("emptyList", "listOf", "ArrayList") }
         specialFor(Maps) {
             doc { "Returns a [List] containing all key-value pairs." }
             returns("List<Pair<K, V>>")