diff --git a/app/controllers/budgets/executions_controller.rb b/app/controllers/budgets/executions_controller.rb
index 3d5373391..dc899c3a7 100644
--- a/app/controllers/budgets/executions_controller.rb
+++ b/app/controllers/budgets/executions_controller.rb
@@ -7,7 +7,16 @@ module Budgets
     def show
       authorize! :read_executions, @budget
       @statuses = ::Budget::Investment::Status.all
-      @headings = @budget.headings.order(id: :asc)
+      @headings = @budget.headings
+                         .includes(investments: :milestones)
+                         .joins(investments: :milestones)
+                         .where(budget_investments: {winner: true})
+                         .distinct
+                         .order(id: :asc)
+
+      if params[:status].present?
+        @headings = @headings.where(filter_investment_by_latest_milestone, params[:status])
+      end
     end
 
     private
@@ -16,5 +25,11 @@ module Budgets
         @budget = Budget.find_by(slug: params[:id]) || Budget.find_by(id: params[:id])
       end
 
+      def filter_investment_by_latest_milestone
+        <<-SQL
+          (SELECT status_id FROM budget_investment_milestones
+           WHERE investment_id = budget_investments.id ORDER BY publication_date DESC LIMIT 1) = ?
+        SQL
+      end
   end
 end
diff --git a/app/helpers/budget_executions_helper.rb b/app/helpers/budget_executions_helper.rb
deleted file mode 100644
index 64caa0c18..000000000
--- a/app/helpers/budget_executions_helper.rb
+++ /dev/null
@@ -1,25 +0,0 @@
-module BudgetExecutionsHelper
-
-  def winner_investments(heading)
-    if params[:status].present?
-      heading.investments
-             .winners
-             .joins(:milestones)
-             .distinct
-             .where(filter_investment_by_latest_milestone, params[:status])
-    else
-      heading.investments
-             .winners
-             .joins(:milestones)
-             .distinct
-    end
-  end
-
-  def filter_investment_by_latest_milestone
-    <<-SQL
-      (SELECT status_id FROM budget_investment_milestones
-       WHERE investment_id = budget_investments.id ORDER BY publication_date DESC LIMIT 1) = ?
-    SQL
-  end
-
-end
diff --git a/app/views/budgets/executions/_investments.html.erb b/app/views/budgets/executions/_investments.html.erb
index b04639a50..0808b354a 100644
--- a/app/views/budgets/executions/_investments.html.erb
+++ b/app/views/budgets/executions/_investments.html.erb
@@ -1,10 +1,9 @@
 <% @headings.each do |heading| %>
-  <h4 id="<%= heading.name.parameterize %>">
-    <%= heading.name %>
-  </h4>
-  <% if winner_investments(heading).any? %>
+    <h4 id="<%= heading.name.parameterize %>">
+      <%= heading.name %>
+    </h4>
     <div class="row" data-equalizer-on="medium" data-equalizer>
-      <% winner_investments(heading).each do |investment| %>
+      <% heading.investments.each do |investment| %>
         <div class="small-12 medium-6 large-4 column end margin-bottom">
           <div class="budget-execution">
             <%= link_to budget_investment_path(@budget, investment, anchor: "tab-milestones"), data: { 'equalizer-watch': true } do %>
@@ -31,9 +30,4 @@
         </div>
       <% end %>
     </div>
-  <% else %>
-    <div class="callout primary clear">
-      <%= t("budgets.executions.no_winner_investments") %>
-    </div>
-  <% end %>
 <% end %>
diff --git a/app/views/budgets/executions/show.html.erb b/app/views/budgets/executions/show.html.erb
index 1d793ea80..dc18d2d08 100644
--- a/app/views/budgets/executions/show.html.erb
+++ b/app/views/budgets/executions/show.html.erb
@@ -62,6 +62,12 @@
       </div>
     <% end %>
 
-    <%= render 'budgets/executions/investments' %>
+    <% if @headings.any? %>
+      <%= render 'budgets/executions/investments' %>
+    <% else %>
+      <div class="callout primary clear">
+        <%= t("budgets.executions.no_winner_investments") %>
+      </div>
+    <% end %>
   </div>
 </div>
diff --git a/config/locales/en/budgets.yml b/config/locales/en/budgets.yml
index b342aaf86..658ac429d 100644
--- a/config/locales/en/budgets.yml
+++ b/config/locales/en/budgets.yml
@@ -179,7 +179,7 @@ en:
       page_title: "%{budget} - Milestones"
       heading: "Participatory budget Milestones"
       heading_selection_title: "By district"
-      no_winner_investments: "No winner investments for this heading"
+      no_winner_investments: "No winner investments in this state"
       filters:
         label: "Project's current state"
         all: "All"
diff --git a/config/locales/es/budgets.yml b/config/locales/es/budgets.yml
index 7f1e03914..60a02a6eb 100644
--- a/config/locales/es/budgets.yml
+++ b/config/locales/es/budgets.yml
@@ -179,7 +179,7 @@ es:
       page_title: "%{budget} - Seguimiento de proyectos"
       heading: "Seguimiento de proyectos"
       heading_selection_title: "Ámbito de actuación"
-      no_winner_investments: "No hay proyectos de gasto ganadores para esta partida"
+      no_winner_investments: "No hay proyectos de gasto ganadores en este estado"
       filters:
         label: "Estado actual del proyecto"
         all: "Todos"
diff --git a/spec/features/budgets/executions_spec.rb b/spec/features/budgets/executions_spec.rb
index 0f8a31a8d..78b8ab4d0 100644
--- a/spec/features/budgets/executions_spec.rb
+++ b/spec/features/budgets/executions_spec.rb
@@ -27,7 +27,9 @@ feature 'Executions' do
     expect(page).not_to have_content(investment4.title)
   end
 
-  scenario 'render a message for headings without winner investments' do
+  scenario "Do not display headings with no winning investments for selected status" do
+    create(:budget_investment_milestone, investment: investment1)
+
     empty_group   = create(:budget_group, budget: budget)
     empty_heading = create(:budget_heading, group: empty_group, price: 1000)
 
@@ -38,11 +40,25 @@ feature 'Executions' do
     expect(page).to have_content(empty_heading.name)
 
     click_link 'Milestones'
-    click_link "#{empty_heading.name}"
 
-    expect(page).to have_content('No winner investments for this heading')
+    expect(page).to have_content(heading.name)
+    expect(page).not_to have_content(empty_heading.name)
   end
 
+  scenario "Show message when there are no winning investments with the selected status", :js do
+    create(:budget_investment_status, name: I18n.t('seeds.budgets.statuses.executed'))
+
+    visit budget_path(budget)
+
+    click_link 'See results'
+    click_link 'Milestones'
+
+    expect(page).not_to have_content('No winner investments in this state')
+
+    select 'Executed', from: 'status'
+
+    expect(page).to have_content('No winner investments in this state')
+  end
 
   context 'Images' do
     scenario 'renders milestone image if available' do
@@ -157,7 +173,6 @@ feature 'Executions' do
       select 'Studying the project', from: 'status'
 
       expect(page).not_to have_content(investment1.title)
-      expect(page).to have_content('No winner investments for this heading')
 
       select 'Bidding', from: 'status'