diff --git a/json-path/src/main/java/com/jayway/jsonpath/JsonPath.java b/json-path/src/main/java/com/jayway/jsonpath/JsonPath.java
index c66659cf..5236db6b 100644
--- a/json-path/src/main/java/com/jayway/jsonpath/JsonPath.java
+++ b/json-path/src/main/java/com/jayway/jsonpath/JsonPath.java
@@ -16,6 +16,7 @@ package com.jayway.jsonpath;
 
 
 import com.jayway.jsonpath.internal.EvaluationContext;
+import com.jayway.jsonpath.internal.FastPathNotFoundException;
 import com.jayway.jsonpath.internal.ParseContextImpl;
 import com.jayway.jsonpath.internal.Path;
 import com.jayway.jsonpath.internal.PathRef;
@@ -195,6 +196,11 @@ public class JsonPath {
             }
         } catch (RuntimeException e) {
             if (!optSuppressExceptions) {
+                if (e instanceof FastPathNotFoundException) {
+                    // the caller wants an exception -> convert the stacktrace-less FastPathNotFoundException
+                    // into one with stacktrace
+                    throw new PathNotFoundException(e.getMessage());
+                }
                 throw e;
             } else {
                 if (optAsPathList) {
diff --git a/json-path/src/main/java/com/jayway/jsonpath/internal/FastPathNotFoundException.java b/json-path/src/main/java/com/jayway/jsonpath/internal/FastPathNotFoundException.java
new file mode 100644
index 00000000..130a50f5
--- /dev/null
+++ b/json-path/src/main/java/com/jayway/jsonpath/internal/FastPathNotFoundException.java
@@ -0,0 +1,27 @@
+package com.jayway.jsonpath.internal;
+
+/**
+ * An alternative to {@link com.jayway.jsonpath.PathNotFoundException} but without stacktrace.
+ * Throwing an exception can be very expensive because of {@link Throwable#fillInStackTrace()}.
+ * This can be a performance issue. It is pointless to generate stacktrace when
+ * {@link com.jayway.jsonpath.Option#SUPPRESS_EXCEPTIONS} is active.
+ */
+public class FastPathNotFoundException extends RuntimeException {
+
+    public FastPathNotFoundException(String message) {
+        super(message);
+    }
+
+    public FastPathNotFoundException(String message, Throwable cause) {
+        super(message, cause);
+    }
+
+    public FastPathNotFoundException(Throwable cause) {
+        super(cause);
+    }
+
+    @Override
+    public synchronized Throwable fillInStackTrace() {
+        return this;
+    }
+}
diff --git a/json-path/src/main/java/com/jayway/jsonpath/internal/filter/ValueNode.java b/json-path/src/main/java/com/jayway/jsonpath/internal/filter/ValueNode.java
index d1619c45..d092759e 100644
--- a/json-path/src/main/java/com/jayway/jsonpath/internal/filter/ValueNode.java
+++ b/json-path/src/main/java/com/jayway/jsonpath/internal/filter/ValueNode.java
@@ -6,6 +6,7 @@ import com.jayway.jsonpath.JsonPathException;
 import com.jayway.jsonpath.Option;
 import com.jayway.jsonpath.PathNotFoundException;
 import com.jayway.jsonpath.Predicate;
+import com.jayway.jsonpath.internal.FastPathNotFoundException;
 import com.jayway.jsonpath.internal.Path;
 import com.jayway.jsonpath.internal.Utils;
 import com.jayway.jsonpath.internal.path.PathCompiler;
@@ -825,6 +826,8 @@ public abstract class ValueNode {
                     return result == JsonProvider.UNDEFINED ? ValueNode.FALSE : ValueNode.TRUE;
                 } catch (PathNotFoundException e) {
                     return ValueNode.FALSE;
+                } catch (FastPathNotFoundException e) {
+                    return ValueListNode.FALSE;
                 }
             } else {
                 try {
diff --git a/json-path/src/main/java/com/jayway/jsonpath/internal/path/EvaluationContextImpl.java b/json-path/src/main/java/com/jayway/jsonpath/internal/path/EvaluationContextImpl.java
index 3fc7e487..8707688d 100644
--- a/json-path/src/main/java/com/jayway/jsonpath/internal/path/EvaluationContextImpl.java
+++ b/json-path/src/main/java/com/jayway/jsonpath/internal/path/EvaluationContextImpl.java
@@ -17,9 +17,9 @@ package com.jayway.jsonpath.internal.path;
 import com.jayway.jsonpath.Configuration;
 import com.jayway.jsonpath.EvaluationListener;
 import com.jayway.jsonpath.Option;
-import com.jayway.jsonpath.PathNotFoundException;
 import com.jayway.jsonpath.internal.EvaluationAbortException;
 import com.jayway.jsonpath.internal.EvaluationContext;
+import com.jayway.jsonpath.internal.FastPathNotFoundException;
 import com.jayway.jsonpath.internal.Path;
 import com.jayway.jsonpath.internal.PathRef;
 import com.jayway.jsonpath.spi.json.JsonProvider;
@@ -130,7 +130,7 @@ public class EvaluationContextImpl implements EvaluationContext {
     public <T> T getValue(boolean unwrap) {
         if (path.isDefinite()) {
             if(resultIndex == 0){
-                throw new PathNotFoundException("No results for path: " + path.toString());
+                throw new FastPathNotFoundException("No results for path: " + path.toString());
             }
             int len = jsonProvider().length(valueResult);
             Object value = (len > 0) ? jsonProvider().getArrayIndex(valueResult, len-1) : null;
@@ -146,7 +146,7 @@ public class EvaluationContextImpl implements EvaluationContext {
     @Override
     public <T> T getPath() {
         if(resultIndex == 0){
-            throw new PathNotFoundException("No results for path: " + path.toString());
+            throw new FastPathNotFoundException("No results for path: " + path.toString());
         }
         return (T)pathResult;
     }