diff --git a/core/src/main/java/org/springframework/security/core/context/ListeningSecurityContextHolderStrategy.java b/core/src/main/java/org/springframework/security/core/context/ListeningSecurityContextHolderStrategy.java
index 1ab3ac9e63..06158272e7 100644
--- a/core/src/main/java/org/springframework/security/core/context/ListeningSecurityContextHolderStrategy.java
+++ b/core/src/main/java/org/springframework/security/core/context/ListeningSecurityContextHolderStrategy.java
@@ -18,6 +18,8 @@ package org.springframework.security.core.context;
 
 import java.util.Arrays;
 import java.util.Collection;
+import java.util.concurrent.atomic.AtomicBoolean;
+import java.util.function.Supplier;
 
 import org.springframework.util.Assert;
 
@@ -127,9 +129,9 @@ public final class ListeningSecurityContextHolderStrategy implements SecurityCon
 	 */
 	@Override
 	public void clearContext() {
-		SecurityContext from = getContext();
+		Supplier<SecurityContext> deferred = this.delegate.getDeferredContext();
 		this.delegate.clearContext();
-		publish(from, null);
+		publish(new SecurityContextChangedEvent(deferred, SecurityContextChangedEvent.NO_CONTEXT));
 	}
 
 	/**
@@ -140,14 +142,28 @@ public final class ListeningSecurityContextHolderStrategy implements SecurityCon
 		return this.delegate.getContext();
 	}
 
+	/**
+	 * {@inheritDoc}
+	 */
+	@Override
+	public Supplier<SecurityContext> getDeferredContext() {
+		return this.delegate.getDeferredContext();
+	}
+
 	/**
 	 * {@inheritDoc}
 	 */
 	@Override
 	public void setContext(SecurityContext context) {
-		SecurityContext from = getContext();
-		this.delegate.setContext(context);
-		publish(from, context);
+		setDeferredContext(() -> context);
+	}
+
+	/**
+	 * {@inheritDoc}
+	 */
+	@Override
+	public void setDeferredContext(Supplier<SecurityContext> deferredContext) {
+		this.delegate.setDeferredContext(new PublishOnceSupplier(getDeferredContext(), deferredContext));
 	}
 
 	/**
@@ -158,14 +174,42 @@ public final class ListeningSecurityContextHolderStrategy implements SecurityCon
 		return this.delegate.createEmptyContext();
 	}
 
-	private void publish(SecurityContext previous, SecurityContext current) {
-		if (previous == current) {
-			return;
-		}
-		SecurityContextChangedEvent event = new SecurityContextChangedEvent(previous, current);
+	private void publish(SecurityContextChangedEvent event) {
 		for (SecurityContextChangedListener listener : this.listeners) {
 			listener.securityContextChanged(event);
 		}
 	}
 
+	class PublishOnceSupplier implements Supplier<SecurityContext> {
+
+		private final AtomicBoolean isPublished = new AtomicBoolean(false);
+
+		private final Supplier<SecurityContext> old;
+
+		private final Supplier<SecurityContext> updated;
+
+		PublishOnceSupplier(Supplier<SecurityContext> old, Supplier<SecurityContext> updated) {
+			if (old instanceof PublishOnceSupplier) {
+				this.old = ((PublishOnceSupplier) old).updated;
+			}
+			else {
+				this.old = old;
+			}
+			this.updated = updated;
+		}
+
+		@Override
+		public SecurityContext get() {
+			SecurityContext updated = this.updated.get();
+			if (this.isPublished.compareAndSet(false, true)) {
+				SecurityContext old = this.old.get();
+				if (old != updated) {
+					publish(new SecurityContextChangedEvent(old, updated));
+				}
+			}
+			return updated;
+		}
+
+	}
+
 }
diff --git a/core/src/main/java/org/springframework/security/core/context/SecurityContextChangedEvent.java b/core/src/main/java/org/springframework/security/core/context/SecurityContextChangedEvent.java
index 17cd787ad5..c14125c475 100644
--- a/core/src/main/java/org/springframework/security/core/context/SecurityContextChangedEvent.java
+++ b/core/src/main/java/org/springframework/security/core/context/SecurityContextChangedEvent.java
@@ -16,6 +16,8 @@
 
 package org.springframework.security.core.context;
 
+import java.util.function.Supplier;
+
 import org.springframework.context.ApplicationEvent;
 
 /**
@@ -26,9 +28,24 @@ import org.springframework.context.ApplicationEvent;
  */
 public class SecurityContextChangedEvent extends ApplicationEvent {
 
-	private final SecurityContext oldContext;
+	public static final Supplier<SecurityContext> NO_CONTEXT = () -> null;
 
-	private final SecurityContext newContext;
+	private final Supplier<SecurityContext> oldContext;
+
+	private final Supplier<SecurityContext> newContext;
+
+	/**
+	 * Construct an event
+	 * @param oldContext the old security context
+	 * @param newContext the new security context, use
+	 * {@link SecurityContextChangedEvent#NO_CONTEXT} for if the context is cleared
+	 * @since 5.8
+	 */
+	public SecurityContextChangedEvent(Supplier<SecurityContext> oldContext, Supplier<SecurityContext> newContext) {
+		super(SecurityContextHolder.class);
+		this.oldContext = oldContext;
+		this.newContext = newContext;
+	}
 
 	/**
 	 * Construct an event
@@ -36,9 +53,7 @@ public class SecurityContextChangedEvent extends ApplicationEvent {
 	 * @param newContext the new security context
 	 */
 	public SecurityContextChangedEvent(SecurityContext oldContext, SecurityContext newContext) {
-		super(SecurityContextHolder.class);
-		this.oldContext = oldContext;
-		this.newContext = newContext;
+		this(() -> oldContext, (newContext != null) ? () -> newContext : NO_CONTEXT);
 	}
 
 	/**
@@ -47,7 +62,7 @@ public class SecurityContextChangedEvent extends ApplicationEvent {
 	 * @return the previous {@link SecurityContext}
 	 */
 	public SecurityContext getOldContext() {
-		return this.oldContext;
+		return this.oldContext.get();
 	}
 
 	/**
@@ -56,7 +71,21 @@ public class SecurityContextChangedEvent extends ApplicationEvent {
 	 * @return the current {@link SecurityContext}
 	 */
 	public SecurityContext getNewContext() {
-		return this.newContext;
+		return this.newContext.get();
+	}
+
+	/**
+	 * Say whether the event is a context-clearing event.
+	 *
+	 * <p>
+	 * This method is handy for avoiding looking up the new context to confirm it is a
+	 * cleared event.
+	 * @return {@code true} if the new context is
+	 * {@link SecurityContextChangedEvent#NO_CONTEXT}
+	 * @since 5.8
+	 */
+	public boolean isCleared() {
+		return this.newContext == NO_CONTEXT;
 	}
 
 }
diff --git a/core/src/test/java/org/springframework/security/core/context/ListeningSecurityContextHolderStrategyTests.java b/core/src/test/java/org/springframework/security/core/context/ListeningSecurityContextHolderStrategyTests.java
index 46f6a60b4e..a8bb5a06b2 100644
--- a/core/src/test/java/org/springframework/security/core/context/ListeningSecurityContextHolderStrategyTests.java
+++ b/core/src/test/java/org/springframework/security/core/context/ListeningSecurityContextHolderStrategyTests.java
@@ -16,27 +16,36 @@
 
 package org.springframework.security.core.context;
 
-import org.junit.jupiter.api.Test;
+import java.util.function.Supplier;
 
+import org.junit.jupiter.api.Test;
+import org.mockito.ArgumentCaptor;
+
+import org.springframework.security.authentication.TestingAuthenticationToken;
+
+import static org.assertj.core.api.Assertions.assertThat;
 import static org.assertj.core.api.Assertions.assertThatExceptionOfType;
 import static org.mockito.ArgumentMatchers.any;
 import static org.mockito.BDDMockito.given;
 import static org.mockito.Mockito.mock;
+import static org.mockito.Mockito.reset;
+import static org.mockito.Mockito.spy;
 import static org.mockito.Mockito.verify;
 import static org.mockito.Mockito.verifyNoInteractions;
+import static org.mockito.Mockito.verifyNoMoreInteractions;
 
 public class ListeningSecurityContextHolderStrategyTests {
 
 	@Test
 	public void setContextWhenInvokedThenListenersAreNotified() {
-		SecurityContextHolderStrategy delegate = mock(SecurityContextHolderStrategy.class);
+		SecurityContextHolderStrategy delegate = spy(new MockSecurityContextHolderStrategy());
 		SecurityContextChangedListener one = mock(SecurityContextChangedListener.class);
 		SecurityContextChangedListener two = mock(SecurityContextChangedListener.class);
 		SecurityContextHolderStrategy strategy = new ListeningSecurityContextHolderStrategy(delegate, one, two);
 		given(delegate.createEmptyContext()).willReturn(new SecurityContextImpl());
 		SecurityContext context = strategy.createEmptyContext();
 		strategy.setContext(context);
-		verify(delegate).setContext(context);
+		strategy.getContext();
 		verify(one).securityContextChanged(any());
 		verify(two).securityContextChanged(any());
 	}
@@ -49,10 +58,68 @@ public class ListeningSecurityContextHolderStrategyTests {
 		SecurityContext context = new SecurityContextImpl();
 		given(delegate.getContext()).willReturn(context);
 		strategy.setContext(strategy.getContext());
-		verify(delegate).setContext(context);
+		strategy.getContext();
 		verifyNoInteractions(listener);
 	}
 
+	@Test
+	public void clearContextWhenNoGetContextThenContextIsNotRead() {
+		SecurityContextHolderStrategy delegate = mock(SecurityContextHolderStrategy.class);
+		SecurityContextChangedListener listener = mock(SecurityContextChangedListener.class);
+		SecurityContextHolderStrategy strategy = new ListeningSecurityContextHolderStrategy(delegate, listener);
+		Supplier<SecurityContext> context = mock(Supplier.class);
+		ArgumentCaptor<SecurityContextChangedEvent> event = ArgumentCaptor.forClass(SecurityContextChangedEvent.class);
+		given(delegate.getDeferredContext()).willReturn(context);
+		given(delegate.getContext()).willAnswer((invocation) -> context.get());
+		strategy.clearContext();
+		verifyNoInteractions(context);
+		verify(listener).securityContextChanged(event.capture());
+		assertThat(event.getValue().isCleared()).isTrue();
+		strategy.getContext();
+		verify(context).get();
+		strategy.clearContext();
+		verifyNoMoreInteractions(context);
+	}
+
+	@Test
+	public void getContextWhenCalledMultipleTimesThenEventPublishedOnce() {
+		SecurityContextHolderStrategy delegate = new MockSecurityContextHolderStrategy();
+		SecurityContextChangedListener listener = mock(SecurityContextChangedListener.class);
+		SecurityContextHolderStrategy strategy = new ListeningSecurityContextHolderStrategy(delegate, listener);
+		strategy.setContext(new SecurityContextImpl());
+		verifyNoInteractions(listener);
+		strategy.getContext();
+		verify(listener).securityContextChanged(any());
+		strategy.getContext();
+		verifyNoMoreInteractions(listener);
+	}
+
+	@Test
+	public void setContextWhenCalledMultipleTimesThenPublishedEventsAlign() {
+		SecurityContextHolderStrategy delegate = new MockSecurityContextHolderStrategy();
+		SecurityContextChangedListener listener = mock(SecurityContextChangedListener.class);
+		SecurityContextHolderStrategy strategy = new ListeningSecurityContextHolderStrategy(delegate, listener);
+		SecurityContext one = new SecurityContextImpl(new TestingAuthenticationToken("user", "pass"));
+		SecurityContext two = new SecurityContextImpl(new TestingAuthenticationToken("admin", "pass"));
+		ArgumentCaptor<SecurityContextChangedEvent> event = ArgumentCaptor.forClass(SecurityContextChangedEvent.class);
+		strategy.setContext(one);
+		strategy.setContext(two);
+		verifyNoInteractions(listener);
+		strategy.getContext();
+		verify(listener).securityContextChanged(event.capture());
+		assertThat(event.getValue().getOldContext()).isEqualTo(one);
+		assertThat(event.getValue().getNewContext()).isEqualTo(two);
+		strategy.getContext();
+		verifyNoMoreInteractions(listener);
+		strategy.setContext(one);
+		verifyNoMoreInteractions(listener);
+		reset(listener);
+		strategy.getContext();
+		verify(listener).securityContextChanged(event.capture());
+		assertThat(event.getValue().getOldContext()).isEqualTo(two);
+		assertThat(event.getValue().getNewContext()).isEqualTo(one);
+	}
+
 	@Test
 	public void constructorWhenNullDelegateThenIllegalArgument() {
 		assertThatExceptionOfType(IllegalArgumentException.class).isThrownBy(
diff --git a/core/src/test/java/org/springframework/security/core/context/MockSecurityContextHolderStrategy.java b/core/src/test/java/org/springframework/security/core/context/MockSecurityContextHolderStrategy.java
index 3f4ddfba11..3977925cae 100644
--- a/core/src/test/java/org/springframework/security/core/context/MockSecurityContextHolderStrategy.java
+++ b/core/src/test/java/org/springframework/security/core/context/MockSecurityContextHolderStrategy.java
@@ -16,23 +16,35 @@
 
 package org.springframework.security.core.context;
 
+import java.util.function.Supplier;
+
 public class MockSecurityContextHolderStrategy implements SecurityContextHolderStrategy {
 
-	private SecurityContext context;
+	private Supplier<SecurityContext> context = () -> null;
 
 	@Override
 	public void clearContext() {
-		this.context = null;
+		this.context = () -> null;
 	}
 
 	@Override
 	public SecurityContext getContext() {
+		return this.context.get();
+	}
+
+	@Override
+	public Supplier<SecurityContext> getDeferredContext() {
 		return this.context;
 	}
 
 	@Override
 	public void setContext(SecurityContext context) {
-		this.context = context;
+		this.context = () -> context;
+	}
+
+	@Override
+	public void setDeferredContext(Supplier<SecurityContext> deferredContext) {
+		this.context = deferredContext;
 	}
 
 	@Override