What you're measuring here is how fast is JVM memory management. The slowest part of your algorithm is memory allocation for new list elements. I would assume that the slowdown can be because your heap size is initially not big enough to handle all elements and therefore it needs to grow which is relatively slow.
What are the Xms and Xmx parameters when starting JVMs?
Try to increase Xms so that initial heap size is enough even for the larger list.