Optimal way to check for common element among many lists?

I understand that ArrayList<>'s are fastest for searching (O(1) vs. O(n)) and LinkedList<>'s are fastest for inserting & deleting (O(1) vs. O(n)).

My question is, if using a combination of these two, what is the optimal method to check many lists (>2) for common elements?

Current Method Using three lists and an iterative method:

out:
for(int a = 0; a < list1.size(); a++) {
    for(int b = 0; b < list2.size(); b++) {
        for(int c = 0; c < list3.size(); c++) {
            if(list1.get(a) == list2.get(b) && list1.get(a) == list3.get(c) ) {
                System.out.println(list1.get(a)); // list2.get(b) or list3.get(c) could have been subbed
                break out;
            }
        }
    } 
}

How can this be optimised for efficiency?