The average balance across all participant accounts in the Charles Schwab self-directed brokerage accounts decreased 9.2% from $316,826 the prior quarter, the company said.

The third quarter average ending account balance of $287,769 was, however, up 5.3% from $273,412 a year ago, the SDBA Indicators Report showed.

The report collected data from about 283,000 retirement plan participants who have balances between $5,000 and $10 million in their Schwab Personal Choice Retirement Account. But the company noted that some of the third-quarter data, including average balances and the number of participant accounts included in the report, has been affected due to the transition of TD Ameritrade SDBA retirement plans and participants to the Schwab platform at the beginning of September.

Trading volumes also dipped from last quarter to an average of 7.8 trades per account from10.3 trades last quarter and lower than a year ago, the report said.

Except for a slight increase in fixed-income holdings, the report noted that participant holdings were similar to last quarter. Equities continued to have the largest holding at 34.2%, followed by mutual funds at 28.8%, Exchange-Traded Funds at 21.9%, cash and equivalents at 9.7% and fixed income at 5.4%.

Within the equities investment category, information technology was the largest equity sector holding at 30.1%. Apple’s stock held on as the top overall equity holding with 12.2% of the equity allocation of portfolios. Included in the top five were Tesla at 8.8%, Amazon at 4.6%, NVIDIA at 4.5%, and Microsoft at 3.6%.

Other equity holdings that were similar to last quarter and a year ago include consumer discretionary at 19.8%, financials at 10.6%, communication services at 8.2% and healthcare at 7.3%.

Within mutual funds, large cap stock funds, while lower than last year, had the largest allocation at 32.7%. They were followed by taxable bond funds at 15.6%, money market funds at 13.6% and international funds at 12.1%.

Among ETFs, which is made up of large caps, mid-caps and small caps, investors in the Schwab Personal Choice Retirement Account (PCRA), the firm’s self-directed account option, allocated the most dollars to U.S. equity (51.8%), followed by U.S. fixed income (14.1%), international equity 13.0%, and sector ETFs at 10.2%.

As for cash and fixed income, cash and equivalents held 9.7% of participant assets while 5.4% of assets were held in fixed income.

The report showed advised accounts held higher average account balances compared to non-advised accounts, $468,516 versus $251,723.

SDBA participation rate was highest among Gen X at 46%, followed by Baby Boomers (28%) and millennials (21%). As for advised accounts, Gen X had the most (52%), followed by boomers (27%) and millennials (18%).

Boomers had the highest average SDBA balance ($466,246), followed by Gen X at $270,370 and millennials at $97,875.