Configure display of "Recent List"

I've added a new toolbar with the "Recent List" displayed. I'm referring to the entire list of recent folders, not the recent list menu which is merely a dropdown list of those folders.

My problem is that my folder structure can be very deep (lots of sub-folders) which causes the list to only display about 4 of my past folders that I've navigated to. Is there a way to configure this so that instead of displaying...

C:\My Documents\Sub1\SubA\Sub1A\SubZZ\Sub91

... it would instead display this?


Most of the time, I'm only interested in the final subfolder.