diff --git a/lib/towerops/agents/stats.ex b/lib/towerops/agents/stats.ex
index 7e012dc5..39874613 100644
--- a/lib/towerops/agents/stats.ex
+++ b/lib/towerops/agents/stats.ex
@@ -272,29 +272,30 @@ defmodule Towerops.Agents.Stats do
       ]
   """
   def get_unmonitored_equipment(organization_id) do
-    from(e in Equipment,
-      join: s in assoc(e, :site),
-      left_join: o in assoc(s, :organization),
-      where:
-        s.organization_id == ^organization_id and
-          e.snmp_enabled == true and
-          e.monitoring_enabled == true,
-      preload: [site: :organization]
+    # Use SQL to determine which equipment has no agent assigned
+    # This avoids loading all equipment into memory
+    Repo.all(
+      from(e in Equipment,
+        join: s in assoc(e, :site),
+        join: o in assoc(s, :organization),
+        left_join: aa in AgentAssignment,
+        on: aa.equipment_id == e.id and aa.enabled == true,
+        # Equipment has no agent via any method
+        where:
+          s.organization_id == ^organization_id and
+            e.snmp_enabled == true and
+            e.monitoring_enabled == true and
+            is_nil(aa.agent_token_id) and
+            is_nil(s.agent_token_id) and
+            is_nil(o.default_agent_token_id),
+        select: %{
+          id: e.id,
+          name: e.name,
+          ip_address: e.ip_address,
+          site_name: s.name
+        }
+      )
     )
-    |> Repo.all()
-    |> Enum.filter(fn equipment ->
-      # Filter to only equipment with no agent assigned
-      {agent_id, _source} = Towerops.Agents.get_effective_agent_token_with_source(equipment)
-      is_nil(agent_id)
-    end)
-    |> Enum.map(fn equipment ->
-      %{
-        id: equipment.id,
-        name: equipment.name,
-        ip_address: equipment.ip_address,
-        site_name: equipment.site.name
-      }
-    end)
   end
 
   # Private helper functions