SDBA Account Balances are down

Schwab’s Q3 2023 SDBA Indicators Report, a report on self directed brokerage accounts (SDBAs) shows that average account balances finished at $287,769 for the third quarter of 2023, with an increase of 5.3% year-over-year but down 9.2% from $316,826 in Q2 2023.

Schwab found that equities remain the largest holding at 34.2%, followed by mutual funds (32.7%), ETFs (21.9%), and cash and fixed income (9.7%). Apple once again came in as the top equity holding (12.21%), followed by Tesla (8.79%), Amazon (4.57%), NVIDIA (4.53%), and Microsoft (3.57%). Other leading holdings included Berkshire Hathaway (2.21%), Alphabet (1.78%), Meta (1.48%), and Costco (0.89%).

Both Schwab and Vanguard were the top mutual fund holdings, with the Schwab S&P 500 Index coming in as the leading fund at 5.56%. This was followed by the Schwab Total Stock Market Index (2.53%), Vanguard 500 Index (2.32%), Vanguard Total Stock Index (2.10%), and the Schwab International Index (0.84%).

As for the top ETF holdings, Vanguard Total Stock Market came in at 5.32%, trailed by the SPDR S&P 500 ETF (4.40%), the Vanguard S&P 500 ETF (4.36%), and the Invesco QQQ Trust (4.01%).

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