diff --git a/CHANGELOG.md b/CHANGELOG.md
index 2b940aafc..4e3e64d57 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -14,8 +14,9 @@
 
 ##### Bug Fixes
 
-* None.  
-
+* Improve performance of `Pod::Source#search`    
+  [Dimitris Koutsogiorgas](https://github.com/dnkoutso)
+  [#416](https://github.com/CocoaPods/Core/pull/416)
 
 ## 1.4.0.beta.1 (2017-09-24)
 
diff --git a/lib/cocoapods-core/source.rb b/lib/cocoapods-core/source.rb
index 35a35814e..b8fc9e11a 100644
--- a/lib/cocoapods-core/source.rb
+++ b/lib/cocoapods-core/source.rb
@@ -263,7 +263,7 @@ def search(query)
       found = Pathname.glob(pod_path(query)).map { |path| path.basename.to_s }
       if [query] == found
         set = set(query)
-        set if set.specification.name == query
+        set if set.specification_name == query
       end
     end
 
diff --git a/lib/cocoapods-core/specification/set.rb b/lib/cocoapods-core/specification/set.rb
index 1ab7a21e1..f0bd49e56 100644
--- a/lib/cocoapods-core/specification/set.rb
+++ b/lib/cocoapods-core/specification/set.rb
@@ -30,7 +30,7 @@ class Set
       #         the sources that contain a Pod.
       #
       def initialize(name, sources = [])
-        @name    = name
+        @name = name
         @sources = Array(sources)
       end
 
@@ -50,6 +50,12 @@ def specification
         Specification.from_file(highest_version_spec_path)
       end
 
+      # @return [Specification] the top level specification for this set for any version.
+      #
+      def specification_name
+        Specification.from_file(specification_paths_for_version(any_version).first).name
+      end
+
       # @return [Array<String>] the paths to specifications for the given
       #         version
       #
@@ -71,6 +77,12 @@ def highest_version
         versions.first
       end
 
+      # @return [Version] A version known for this specification.
+      #
+      def any_version
+        versions_by_source.values.flatten.uniq.first
+      end
+
       # @return [Pathname] The path of the highest version.
       #
       # @note   If multiple sources have a specification for the
@@ -78,18 +90,16 @@ def highest_version
       #         is used to disambiguate.
       #
       def highest_version_spec_path
-        specification_paths_for_version(highest_version).first
+        @highest_version_spec_path ||= specification_paths_for_version(highest_version).first
       end
 
       # @return [Hash{Source => Version}] all the available versions for the
       #         Pod grouped by source.
       #
       def versions_by_source
-        result = {}
-        sources.each do |source|
+        @versions_by_source ||= sources.each_with_object({}) do |source, result|
           result[source] = source.versions(name)
         end
-        result
       end
 
       def ==(other)
diff --git a/spec/specification/set_spec.rb b/spec/specification/set_spec.rb
index 62166b6bf..5a36a8857 100644
--- a/spec/specification/set_spec.rb
+++ b/spec/specification/set_spec.rb
@@ -21,6 +21,10 @@ module Pod
         @set.highest_version.should == Version.new('1.6.2')
       end
 
+      it 'returns a version available for the pod' do
+        @set.any_version.should == Version.new('1.6.2')
+      end
+
       it 'returns the path of the spec with the highest version' do
         @set.highest_version_spec_path.should == @source.repo + 'CocoaLumberjack/1.6.2/CocoaLumberjack.podspec'
       end