UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-06440
Fidelity Aberdeen Street Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)
Cynthia Lo Bessette, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
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Date of fiscal year end: | March 31 |
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Date of reporting period: | March 31, 2021 |
Item 1.
Reports to Stockholders
Fidelity Freedom® Funds - Income, 2005, 2010, 2015, 2020, 2025, 2030, 2035, 2040, 2045, 2050, 2055, 2060, 2065
Annual Report
March 31, 2021
Contents
To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
You may also call 1-800-544-8544 if you’re an individual investing directly with Fidelity, call 1-800-835-5092 if you’re a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you’re an advisor or invest through one to request a free copy of the proxy voting guidelines.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2021 FMR LLC. All rights reserved.
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Funds nor Fidelity Distributors Corporation is a bank.
Note to Shareholders:
Early in 2020, the outbreak and spread of a new coronavirus emerged as a public health emergency that had a major influence on financial markets, primarily based on its impact on the global economy and the outlook for corporate earnings. The virus causes a respiratory disease known as COVID-19. On March 11, 2020 the World Health Organization declared the COVID-19 outbreak a pandemic, citing sustained risk of further global spread.
In the weeks following, as the crisis worsened, we witnessed an escalating human tragedy with wide-scale social and economic consequences from coronavirus-containment measures. The outbreak of COVID-19 prompted a number of measures to limit the spread, including travel and border restrictions, quarantines, and restrictions on large gatherings. In turn, these resulted in lower consumer activity, diminished demand for a wide range of products and services, disruption in manufacturing and supply chains, and – given the wide variability in outcomes regarding the outbreak – significant market uncertainty and volatility. Amid the turmoil, global governments and central banks took unprecedented action to help support consumers, businesses, and the broader economies, and to limit disruption to financial systems.
The situation continues to unfold, and the extent and duration of its impact on financial markets and the economy remain highly uncertain. Extreme events such as the coronavirus crisis are “exogenous shocks” that can have significant adverse effects on mutual funds and their investments. Although multiple asset classes may be affected by market disruption, the duration and impact may not be the same for all types of assets.
Fidelity is committed to helping you stay informed amid news about COVID-19 and during increased market volatility, and we’re taking extra steps to be responsive to customer needs. We encourage you to visit our websites, where we offer ongoing updates, commentary, and analysis on the markets and our funds.
Fidelity Freedom® Income Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Fidelity Freedom® Income Fund | 13.92% | 5.73% | 4.45% |
| Class K | 14.02% | 5.76% | 4.47% |
| Class K6 | 13.97% | 5.79% | 4.48% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class K6 shares took place on June 7, 2017. Returns prior to June 7, 2017 are those of Fidelity Freedom® Income Fund, the original class of the fund.
The initial offering of Class K shares took place on July 20, 2017. Returns prior to July 20, 2017 are those of Fidelity Freedom® Income Fund, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Income Fund, a class of the fund, on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $15,459 | Fidelity Freedom® Income Fund |
| $14,025 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Freedom® 2005 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Fidelity Freedom® 2005 Fund | 16.89% | 6.73% | 5.28% |
| Class K | 16.99% | 6.76% | 5.30% |
| Class K6 | 17.02% | 6.82% | 5.32% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class K6 shares took place on June 7, 2017. Returns prior to June 7, 2017 are those of Fidelity Freedom® 2005 Fund, the original class of the fund.
The initial offering of Class K shares took place on July 20, 2017. Returns prior to July 20, 2017 are those of Fidelity Freedom® 2005 Fund, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® 2005 Fund, a class of the fund, on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $16,724 | Fidelity Freedom® 2005 Fund |
| $14,025 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Freedom® 2010 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Fidelity Freedom® 2010 Fund | 22.04% | 7.86% | 6.21% |
| Class K | 22.11% | 7.91% | 6.24% |
| Class K6 | 22.23% | 7.96% | 6.26% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class K6 shares took place on June 7, 2017. Returns prior to June 7, 2017 are those of Fidelity Freedom® 2010 Fund, the original class of the fund.
The initial offering of Class K shares took place on July 20, 2017. Returns prior to July 20, 2017 are those of Fidelity Freedom® 2010 Fund, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® 2010 Fund, a class of the fund, on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $18,269 | Fidelity Freedom® 2010 Fund |
| $14,025 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Freedom® 2015 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Fidelity Freedom® 2015 Fund | 27.45% | 8.97% | 6.84% |
| Class K | 27.45% | 9.02% | 6.86% |
| Class K6 | 27.58% | 9.09% | 6.90% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class K6 shares took place on June 7, 2017. Returns prior to June 7, 2017 are those of Fidelity Freedom® 2015 Fund, the original class of the fund.
The initial offering of Class K shares took place on July 20, 2017. Returns prior to July 20, 2017 are those of Fidelity Freedom® 2015 Fund, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® 2015 Fund, a class of the fund, on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $19,378 | Fidelity Freedom® 2015 Fund |
| $14,025 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Freedom® 2020 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Fidelity Freedom® 2020 Fund | 32.56% | 9.87% | 7.36% |
| Class K | 32.66% | 9.94% | 7.40% |
| Class K6 | 32.85% | 10.02% | 7.44% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class K6 shares took place on June 7, 2017. Returns prior to June 7, 2017 are those of Fidelity Freedom® 2020 Fund, the original class of the fund.
The initial offering of Class K shares took place on July 20, 2017. Returns prior to July 20, 2017 are those of Fidelity Freedom® 2020 Fund, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® 2020 Fund, a class of the fund, on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $20,349 | Fidelity Freedom® 2020 Fund |
| $36,788 | S&P 500® Index |
Fidelity Freedom® 2025 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Fidelity Freedom® 2025 Fund | 36.58% | 10.60% | 7.98% |
| Class K | 36.74% | 10.67% | 8.01% |
| Class K6 | 36.91% | 10.77% | 8.07% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class K6 shares took place on June 7, 2017. Returns prior to June 7, 2017 are those of Fidelity Freedom® 2025 Fund, the original class of the fund.
The initial offering of Class K shares took place on July 20, 2017. Returns prior to July 20, 2017 are those of Fidelity Freedom® 2025 Fund, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® 2025 Fund, a class of the fund, on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $21,549 | Fidelity Freedom® 2025 Fund |
| $36,788 | S&P 500® Index |
Fidelity Freedom® 2030 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Fidelity Freedom® 2030 Fund | 42.14% | 11.89% | 8.66% |
| Class K | 42.20% | 11.96% | 8.70% |
| Class K6 | 42.45% | 12.08% | 8.76% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class K6 shares took place on June 7, 2017. Returns prior to June 7, 2017 are those of Fidelity Freedom® 2030 Fund, the original class of the fund.
The initial offering of Class K shares took place on July 20, 2017. Returns prior to July 20, 2017 are those of Fidelity Freedom® 2030 Fund, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® 2030 Fund, a class of the fund, on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $22,950 | Fidelity Freedom® 2030 Fund |
| $36,788 | S&P 500® Index |
Fidelity Freedom® 2035 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Fidelity Freedom® 2035 Fund | 51.68% | 13.22% | 9.40% |
| Class K | 51.80% | 13.29% | 9.43% |
| Class K6 | 52.14% | 13.44% | 9.50% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class K6 shares took place on June 7, 2017. Returns prior to June 7, 2017 are those of Fidelity Freedom® 2035 Fund, the original class of the fund.
The initial offering of Class K shares took place on July 20, 2017. Returns prior to July 20, 2017 are those of Fidelity Freedom® 2035 Fund, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® 2035 Fund, a class of the fund, on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $24,552 | Fidelity Freedom® 2035 Fund |
| $36,788 | S&P 500® Index |
Fidelity Freedom® 2040 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Fidelity Freedom® 2040 Fund | 57.59% | 13.73% | 9.67% |
| Class K | 57.77% | 13.81% | 9.71% |
| Class K6 | 57.95% | 13.93% | 9.77% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class K6 shares took place on June 7, 2017. Returns prior to June 7, 2017 are those of Fidelity Freedom® 2040 Fund, the original class of the fund.
The initial offering of Class K shares took place on July 20, 2017. Returns prior to July 20, 2017 are those of Fidelity Freedom® 2040 Fund, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® 2040 Fund, a class of the fund, on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $25,172 | Fidelity Freedom® 2040 Fund |
| $36,788 | S&P 500® Index |
Fidelity Freedom® 2045 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Fidelity Freedom® 2045 Fund | 57.65% | 13.71% | 9.69% |
| Class K | 57.85% | 13.81% | 9.73% |
| Class K6 | 58.05% | 13.93% | 9.79% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class K6 shares took place on June 7, 2017. Returns prior to June 7, 2017 are those of Fidelity Freedom® 2045 Fund, the original class of the fund.
The initial offering of Class K shares took place on July 20, 2017. Returns prior to July 20, 2017 are those of Fidelity Freedom® 2045 Fund, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® 2045 Fund, a class of the fund, on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $25,209 | Fidelity Freedom® 2045 Fund |
| $36,788 | S&P 500® Index |
Fidelity Freedom® 2050 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Fidelity Freedom® 2050 Fund | 57.62% | 13.73% | 9.66% |
| Class K | 57.78% | 13.82% | 9.70% |
| Class K6 | 57.97% | 13.95% | 9.76% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class K6 shares took place on June 7, 2017. Returns prior to June 7, 2017 are those of Fidelity Freedom® 2050 Fund, the original class of the fund.
The initial offering of Class K shares took place on July 20, 2017. Returns prior to July 20, 2017 are those of Fidelity Freedom® 2050 Fund, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® 2050 Fund, a class of the fund, on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $25,139 | Fidelity Freedom® 2050 Fund |
| $36,788 | S&P 500® Index |
Fidelity Freedom® 2055 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Life of fundA |
| Fidelity Freedom® 2055 Fund | 57.70% | 13.73% | 9.94% |
| Class K | 57.70% | 13.81% | 9.99% |
| Class K6 | 58.01% | 13.93% | 10.05% |
A From June 1, 2011
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class K6 shares took place on June 7, 2017. Returns prior to June 7, 2017 are those of Fidelity Freedom® 2055 Fund, the original class of the fund.
The initial offering of Class K shares took place on July 20, 2017. Returns prior to July 20, 2017 are those of Fidelity Freedom® 2055 Fund, the original class of the fund.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® 2055 Fund, a class of the fund, on June 1, 2011, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $25,415 | Fidelity Freedom® 2055 Fund |
| $36,978 | S&P 500® Index |
Fidelity Freedom® 2060 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Life of fundA |
| Fidelity Freedom® 2060 Fund | 57.57% | 13.70% | 10.51% |
| Class K | 57.77% | 13.79% | 10.57% |
| Class K6 | 58.07% | 13.91% | 10.66% |
A From August 5, 2014
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class K6 shares took place on June 7, 2017. Returns prior to June 7, 2017 are those of Fidelity Freedom® 2060 Fund, the original class of the fund.
The initial offering of Class K shares took place on July 20, 2017. Returns prior to July 20, 2017 are those of Fidelity Freedom® 2060 Fund, the original class of the fund.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® 2060 Fund, a class of the fund, on August 5, 2014, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $19,446 | Fidelity Freedom® 2060 Fund |
| $23,643 | S&P 500® Index |
Fidelity Freedom® 2065 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Fidelity Freedom® 2065 Fund | 57.49% | 19.24% |
| Class K | 57.72% | 19.39% |
| Class K6 | 57.93% | 19.57% |
A From June 28, 2019
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® 2065 Fund, a class of the fund, on June 28, 2019, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $13,607 | Fidelity Freedom® 2065 Fund |
| $13,944 | S&P 500® Index |
Management's Discussion of Fund Performance
Market Recap: For the 12 months ending March 31, 2021, global financial markets were influenced by a number of factors, including elevated volatility resulting from the early-2020 outbreak and spread of COVID-19. The pandemic coincided with equities suffering one of the quickest declines on record, followed by a historic rebound through March 31, driven by global economies reopening, ongoing fiscal and monetary stimulus, and the widespread distribution of COVID-19 vaccines. Many economists raised their expectations for a powerful recovery, as opposed to the sluggish rebound they had been anticipating. In the first quarter of 2021, riskier asset prices and bond yields rose amid the progressing global recovery.
Within this environment, the MSCI ACWI (All Country World Index) ex USA Index gained 49.62% for the 12 months. Canada (+61%) and emerging markets (+59%) fared best among regions. Asia Pacific ex Japan (+52%) also topped the broader market. Conversely, the U.K. (+34%) and Japan (+40%) notably lagged and Europe ex U.K. gained about 50%. By sector, information technology (+83%) led the way, boosted by the semiconductors & semiconductor equipment group (+128%). Materials (+77%), consumer discretionary (+66%) and industrials (+58%) also outperformed. In contrast, notable laggards included four defensive sectors: consumer staples and health care (+23% each) and utilities and real estate (+29% each).
The Dow Jones U.S. Total Stock Market Index gained 62.68% the past 12 months. Among sectors, economically sensitive groups fared best, led by consumer discretionary (+98%), energy and materials (+83% each), industrials (+74%), and information technology (+70%). In contrast, utilities (+19%) fared worst by a wide margin, followed by consumer staples (+31%). Small-cap stocks, as measured by the Russell 2000
® Index (+94.85%), handily topped the large-cap-oriented S&P 500
® index (+56.35%) the past 12 months. From a style standpoint, value stocks outpaced growth in the smaller-cap segment of the broader market, while growth topped value among large-caps. Commodities, as measured by the Bloomberg Barclays Commodity Index Total Return, rose 35.04%.
Within fixed income, U.S. taxable investment-grade bonds, as measured by the Bloomberg Barclays U.S. Aggregate Bond Index, gained 0.71% the past 12 months. Treasury Inflation-Protected Securities (+8.12%) and corporate bonds (+7.88%) outperformed the broader investment-grade bond index. Long-term (-15.80%) and short-term (+0.13%) U.S. Treasuries underperformed, as did government-related securities (-4.26%). Commercial mortgage-backed securities (+4.36%) and asset-backed securities (+4.57%) each lagged, whereas leveraged loans (+21.93%), high-yield bonds (+20.31%) and emerging-market debt (+14.29%) stood out.
Comments from Co-Portfolio Managers Andrew Dierdorf and Brett Sumsion: For the fiscal year, the shares of each Fidelity Freedom
® Fund posted a gain, ranging from 13.92% for Fidelity Freedom Income Fund to 57.70% for Fidelity Freedom 2055 Fund. Each Fund outperformed its Composite index the past 12 months. Security selection among the underlying investment portfolios primarily drove the Funds’ outperformance of Composite indexes. Active asset allocation decisions boosted the Funds' relative results to a lesser extent. Specifically, strong performance among underlying U.S. equity funds contributed most. In this asset class, Fidelity
® Series Growth Company Fund (+97.30%) was the top contributor, outperforming the 64.31% advance of its benchmark, the Russell 3000
® Growth Index. Investments in Fidelity
® Series Intrinsic Opportunities Fund (+77.31%) and Fidelity
® Series Blue Chip Growth Fund (+97.44%) also added considerable value. In investment-grade bonds, an investment in Fidelity
® Series Investment Grade Bond Fund (+6.51%) helped, as this fund topped the 0.71% return of the Bloomberg Barclays U.S. Aggregate Bond Index. Active management among non-U.S. equities also helped the Funds outperform Composites. Fidelity
® Series Emerging Markets Fund (+69.89%) was a key outperformer, besting the 58.41% advance of its benchmark, the MSCI Emerging Markets Index. In terms of active asset allocation, underweighting investment-grade bonds contributed most, as this asset class lagged most others in which the Funds invest. The Funds' relative performance also got a boost from overweighting non-U.S. equities, particularly emerging-markets equities. Conversely, underweighting U.S. equities detracted most. Overweighting short-term debt securities and inflation-protected debt securities also held back relative performance.
The views expressed above reflect those of the portfolio manager(s) only through the end of the period as stated on the cover of this report and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity fund.
Fidelity Freedom® Income Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 38.5 |
| Fidelity Series Government Money Market Fund 0.08% | 19.2 |
| Fidelity Series Inflation-Protected Bond Index Fund | 12.0 |
| Fidelity Series Emerging Markets Opportunities Fund | 6.4 |
| Fidelity Series Short-Term Credit Fund | 4.0 |
| Fidelity Series Commodity Strategy Fund | 2.8 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2.7 |
| Fidelity Series Overseas Fund | 1.5 |
| Fidelity Series International Growth Fund | 1.4 |
| Fidelity Series International Value Fund | 1.4 |
| | 89.9 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 9.2% |
| | International Equity Funds | 12.4% |
| | Bond Funds | 55.1% |
| | Short-Term Funds | 23.3% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® Income Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.07% to 0.08% 4/1/21 to 4/29/21 | | | |
| (Cost $1,259,960) | | 1,260,000 | 1,259,995 |
| | | Shares | Value |
|
| Domestic Equity Funds - 9.2% | | | |
| Fidelity Series All-Sector Equity Fund (a) | | 728,386 | $8,543,965 |
| Fidelity Series Blue Chip Growth Fund (a) | | 778,740 | 13,557,862 |
| Fidelity Series Commodity Strategy Fund (a) | | 18,588,490 | 91,083,601 |
| Fidelity Series Growth Company Fund (a) | | 1,478,870 | 34,620,342 |
| Fidelity Series Intrinsic Opportunities Fund (a) | | 1,608,810 | 34,718,116 |
| Fidelity Series Large Cap Stock Fund (a) | | 1,645,131 | 30,352,675 |
| Fidelity Series Large Cap Value Index Fund (a) | | 761,628 | 11,188,318 |
| Fidelity Series Opportunistic Insights Fund (a) | | 871,734 | 17,722,342 |
| Fidelity Series Small Cap Discovery Fund (a) | | 262,708 | 3,798,755 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 716,964 | 12,704,610 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 1,797,850 | 25,655,317 |
| Fidelity Series Value Discovery Fund (a) | | 1,239,375 | 19,730,847 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $210,042,753) | | | 303,676,750 |
|
| International Equity Funds - 12.4% | | | |
| Fidelity Series Canada Fund (a) | | 1,327,945 | 16,957,854 |
| Fidelity Series Emerging Markets Fund (a) | | 1,985,922 | 23,215,427 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 8,306,207 | 213,137,273 |
| Fidelity Series International Growth Fund (a) | | 2,648,853 | 47,520,417 |
| Fidelity Series International Small Cap Fund (a) | | 726,728 | 15,057,805 |
| Fidelity Series International Value Fund (a) | | 4,374,896 | 47,467,627 |
| Fidelity Series Overseas Fund (a) | | 3,774,774 | 47,599,899 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $267,040,294) | | | 410,956,302 |
|
| Bond Funds - 55.1% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 1,946,794 | 17,676,887 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 574,346 | 5,754,943 |
| Fidelity Series Floating Rate High Income Fund (a) | | 387,402 | 3,560,227 |
| Fidelity Series High Income Fund (a) | | 2,238,028 | 20,992,703 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 37,056,915 | 397,991,268 |
| Fidelity Series International Credit Fund (a) | | 224,155 | 2,237,066 |
| Fidelity Series Investment Grade Bond Fund (a) | | 110,901,169 | 1,278,690,480 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 11,360,117 | 89,744,924 |
| Fidelity Series Real Estate Income Fund (a) | | 1,142,644 | 12,626,216 |
| TOTAL BOND FUNDS | | | |
| (Cost $1,732,770,476) | | | 1,829,274,714 |
|
| Short-Term Funds - 23.3% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 1,884,430 | 1,884,807 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 638,049,691 | 638,049,691 |
| Fidelity Series Short-Term Credit Fund (a) | | 13,208,861 | 134,334,117 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $771,592,826) | | | 774,268,615 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $2,982,706,309) | | | 3,319,436,376 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (1,265,451) |
| NET ASSETS - 100% | | | $3,318,170,925 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $10,171 |
| Total | $10,171 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series All-Sector Equity Fund | $6,494,951 | $1,250,895 | $2,384,174 | $996,673 | $262,601 | $2,919,692 | $8,543,965 |
| Fidelity Series Blue Chip Growth Fund | 11,105,865 | 5,901,727 | 7,588,213 | 5,392,046 | 1,140,882 | 2,997,601 | 13,557,862 |
| Fidelity Series Canada Fund | 11,827,329 | 4,020,557 | 5,830,447 | 347,043 | (56,863) | 6,997,278 | 16,957,854 |
| Fidelity Series Commodity Strategy Fund | 102,478,570 | 15,539,152 | 51,363,445 | 379,765 | (10,439,556) | 34,868,880 | 91,083,601 |
| Fidelity Series Emerging Markets Debt Fund | 19,329,709 | 1,676,408 | 5,854,253 | 1,016,239 | (291,434) | 2,816,457 | 17,676,887 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 6,543,180 | 663,170 | 89,482 | 14,997 | (140,064) | 5,754,943 |
| Fidelity Series Emerging Markets Fund | 12,565,775 | 7,717,129 | 7,424,950 | 341,073 | 582,951 | 9,774,522 | 23,215,427 |
| Fidelity Series Emerging Markets Opportunities Fund | 120,401,548 | 77,482,003 | 79,990,408 | 6,571,288 | 12,056,906 | 83,187,224 | 213,137,273 |
| Fidelity Series Floating Rate High Income Fund | 3,609,083 | 343,963 | 899,158 | 167,710 | (64,196) | 570,535 | 3,560,227 |
| Fidelity Series Government Money Market Fund 0.08% | 649,056,601 | 139,523,717 | 150,530,627 | 1,127,555 | -- | -- | 638,049,691 |
| Fidelity Series Growth Company Fund | 24,466,624 | 10,909,289 | 13,986,505 | 8,716,683 | 5,862,437 | 7,368,497 | 34,620,342 |
| Fidelity Series High Income Fund | 20,608,019 | 2,117,643 | 4,563,231 | 1,228,770 | (33,311) | 2,863,583 | 20,992,703 |
| Fidelity Series Inflation-Protected Bond Index Fund | 376,040,169 | 47,205,441 | 49,483,195 | 5,219,988 | 409,128 | 23,819,725 | 397,991,268 |
| Fidelity Series International Credit Fund | 1,998,296 | 153,640 | -- | 153,640 | -- | 85,130 | 2,237,066 |
| Fidelity Series International Growth Fund | 62,652,637 | 9,469,987 | 37,387,585 | 7,004,999 | 12,737,368 | 48,010 | 47,520,417 |
| Fidelity Series International Small Cap Fund | 15,102,598 | 661,268 | 7,206,966 | 129,245 | 1,693,808 | 4,807,097 | 15,057,805 |
| Fidelity Series International Value Fund | 52,704,333 | 5,169,315 | 31,362,077 | 1,387,545 | (181,518) | 21,137,574 | 47,467,627 |
| Fidelity Series Intrinsic Opportunities Fund | 22,167,449 | 10,076,200 | 14,599,930 | 1,503,965 | 3,619,041 | 13,455,356 | 34,718,116 |
| Fidelity Series Investment Grade Bond Fund | 1,201,348,763 | 229,671,078 | 149,376,288 | 77,971,072 | 151,445 | (3,104,518) | 1,278,690,480 |
| Fidelity Series Large Cap Stock Fund | 19,031,854 | 11,044,293 | 11,622,965 | 1,482,032 | 1,550,280 | 10,349,213 | 30,352,675 |
| Fidelity Series Large Cap Value Index Fund | 5,327,585 | 6,832,304 | 4,476,773 | 240,931 | 196,351 | 3,308,851 | 11,188,318 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 78,105,731 | 47,924,956 | 13,665,457 | 8,591,720 | 1,277,978 | (23,898,284) | 89,744,924 |
| Fidelity Series Opportunistic Insights Fund | 14,481,203 | 3,257,696 | 4,887,350 | 2,735,635 | 1,811,897 | 3,058,896 | 17,722,342 |
| Fidelity Series Overseas Fund | 47,455,129 | 9,185,532 | 28,369,683 | 559,613 | 279,979 | 19,048,942 | 47,599,899 |
| Fidelity Series Real Estate Income Fund | 12,389,359 | 1,469,225 | 4,926,824 | 915,331 | 108,221 | 3,586,235 | 12,626,216 |
| Fidelity Series Short-Term Credit Fund | 148,318,154 | 11,479,132 | 29,890,604 | 3,490,513 | 498,447 | 3,928,988 | 134,334,117 |
| Fidelity Series Small Cap Discovery Fund | 2,485,329 | 592,412 | 1,554,731 | 102,995 | 291,084 | 1,984,661 | 3,798,755 |
| Fidelity Series Small Cap Opportunities Fund | 7,816,087 | 3,206,313 | 4,779,683 | 273,865 | 1,408,432 | 5,053,461 | 12,704,610 |
| Fidelity Series Stock Selector Large Cap Value Fund | 14,482,220 | 14,074,511 | 12,804,158 | 586,912 | 802,714 | 9,100,030 | 25,655,317 |
| Fidelity Series Value Discovery Fund | 10,290,283 | 10,778,833 | 8,886,356 | 439,503 | 400,080 | 7,148,007 | 19,730,847 |
| | $3,074,141,253 | $695,277,799 | $746,359,206 | $139,163,831 | $36,090,149 | $257,141,579 | $3,316,291,574 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments | $1,259,995 | $-- | $1,259,995 | $-- |
| Domestic Equity Funds | 303,676,750 | 303,676,750 | -- | -- |
| International Equity Funds | 410,956,302 | 410,956,302 | -- | -- |
| Bond Funds | 1,829,274,714 | 1,829,274,714 | -- | -- |
| Short-Term Funds | 774,268,615 | 774,268,615 | -- | -- |
| Total Investments in Securities: | $3,319,436,376 | $3,318,176,381 | $1,259,995 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Income Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,259,960) | $1,259,995 | |
| Fidelity Central Funds (cost $1,884,800) | 1,884,807 | |
| Other affiliated issuers (cost $2,979,561,549) | 3,316,291,574 | |
| Total Investment in Securities (cost $2,982,706,309) | | $3,319,436,376 |
| Receivable for investments sold | | 18,561,936 |
| Receivable for fund shares sold | | 6,023,974 |
| Distributions receivable from Fidelity Central Funds | | 97 |
| Receivable for daily variation margin on futures contracts | | 35,921 |
| Total assets | | 3,344,058,304 |
| Liabilities | | |
| Payable for investments purchased | $16,662,676 | |
| Payable for fund shares redeemed | 7,995,455 | |
| Accrued management fee | 1,229,248 | |
| Total liabilities | | 25,887,379 |
| Net Assets | | $3,318,170,925 |
| Net Assets consist of: | | |
| Paid in capital | | $2,924,441,966 |
| Total accumulated earnings (loss) | | 393,728,959 |
| Net Assets | | $3,318,170,925 |
| Net Asset Value and Maximum Offering Price | | |
| Fidelity Freedom Income Fund: | | |
| Net Asset Value, offering price and redemption price per share ($2,031,257,193 ÷ 167,062,877 shares) | | $12.16 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($1,043,132,989 ÷ 85,952,335 shares) | | $12.14 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($243,780,743 ÷ 20,093,588 shares) | | $12.13 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $49,603,210 |
| Interest | | 2,793 |
| Income from Fidelity Central Funds | | 10,171 |
| Total income | | 49,616,174 |
| Expenses | | |
| Management fee | $14,462,869 | |
| Independent trustees' fees and expenses | 9,599 | |
| Total expenses before reductions | 14,472,468 | |
| Expense reductions | (131) | |
| Total expenses after reductions | | 14,472,337 |
| Net investment income (loss) | | 35,143,837 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (1,070) | |
| Other affiliated issuers | 36,090,149 | |
| Futures contracts | 409,074 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 89,560,621 | |
| Total net realized gain (loss) | | 126,058,774 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (1,285) | |
| Fidelity Central Funds | (34) | |
| Other affiliated issuers | 257,141,579 | |
| Total change in net unrealized appreciation (depreciation) | | 257,140,260 |
| Net gain (loss) | | 383,199,034 |
| Net increase (decrease) in net assets resulting from operations | | $418,342,871 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $35,143,837 | $64,598,171 |
| Net realized gain (loss) | 126,058,774 | 74,358,386 |
| Change in net unrealized appreciation (depreciation) | 257,140,260 | (97,093,752) |
| Net increase (decrease) in net assets resulting from operations | 418,342,871 | 41,862,805 |
| Distributions to shareholders | (142,317,786) | (122,580,496) |
| Share transactions - net increase (decrease) | (45,161,621) | (214,194,891) |
| Total increase (decrease) in net assets | 230,863,464 | (294,912,582) |
| Net Assets | | |
| Beginning of period | 3,087,307,461 | 3,382,220,043 |
| End of period | $3,318,170,925 | $3,087,307,461 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Income Fund
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.15 | $11.44 | $11.69 | $11.57 | $11.26 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .13 | .22 | .23 | .18 | .19 |
| Net realized and unrealized gain (loss) | 1.40 | (.09) | .11 | .38 | .49 |
| Total from investment operations | 1.53 | .13 | .34 | .56 | .68 |
| Distributions from net investment income | (.13) | (.23) | (.23) | (.19) | (.20)B |
| Distributions from net realized gain | (.39) | (.20) | (.36) | (.25) | (.17)B |
| Total distributions | (.52) | (.42)C | (.59) | (.44) | (.37) |
| Net asset value, end of period | $12.16 | $11.15 | $11.44 | $11.69 | $11.57 |
| Total ReturnD | 13.92% | 1.05% | 3.08% | 4.86% | 6.16% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .47% | .47% | .46%G | .39% | - %H |
| Expenses net of fee waivers, if any | .47% | .47% | .46%G | .39% | -% |
| Expenses net of all reductions | .47% | .47% | .46%G | .39% | -% |
| Net investment income (loss) | 1.05% | 1.90% | 2.02% | 1.57% | 1.70% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $2,031,257 | $1,839,153 | $1,978,263 | $2,111,741 | $2,137,752 |
| Portfolio turnover rateI | 21% | 17% | 22% | 17%J | 31% |
A Calculated based on average shares outstanding during the period.
B The amounts shown reflect certain reclassifications related to book to tax differences that were made in the year shown.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount represents less than .005%.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
J The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Income Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $11.13 | $11.42 | $11.68 | $11.76 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .13 | .23 | .24 | .19 |
| Net realized and unrealized gain (loss) | 1.41 | (.09) | .09 | .05 |
| Total from investment operations | 1.54 | .14 | .33 | .24 |
| Distributions from net investment income | (.14) | (.23) | (.24) | (.16) |
| Distributions from net realized gain | (.39) | (.20) | (.36) | (.17) |
| Total distributions | (.53) | (.43) | (.59)C | (.32)C |
| Net asset value, end of period | $12.14 | $11.13 | $11.42 | $11.68 |
| Total ReturnD,E | 14.02% | 1.12% | 3.04% | 2.06% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .41% | .41% | .41%H | .42%I |
| Expenses net of fee waivers, if any | .41% | .41% | .41%H | .42%I |
| Expenses net of all reductions | .41% | .41% | .41%H | .42%I |
| Net investment income (loss) | 1.10% | 1.95% | 2.07% | 2.32%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $1,043,133 | $1,048,404 | $1,236,535 | $1,568,576 |
| Portfolio turnover rateJ | 21% | 17% | 22% | 17%K |
A For the period July 20, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
K The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Income Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $11.13 | $11.42 | $11.68 | $11.68 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .14 | .23 | .24 | .18 |
| Net realized and unrealized gain (loss) | 1.40 | (.08) | .11 | .15 |
| Total from investment operations | 1.54 | .15 | .35 | .33 |
| Distributions from net investment income | (.15) | (.24) | (.25) | (.17) |
| Distributions from net realized gain | (.39) | (.20) | (.36) | (.17) |
| Total distributions | (.54) | (.44) | (.61) | (.33)C |
| Net asset value, end of period | $12.13 | $11.13 | $11.42 | $11.68 |
| Total ReturnD,E | 13.97% | 1.18% | 3.16% | 2.86% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .37% | .37% | .37% | .37%H |
| Expenses net of fee waivers, if any | .37% | .37% | .37% | .37%H |
| Expenses net of all reductions | .37% | .37% | .37% | .37%H |
| Net investment income (loss) | 1.15% | 2.00% | 2.12% | 1.91%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $243,781 | $199,750 | $167,422 | $39,253 |
| Portfolio turnover rateI | 21% | 17% | 22% | 17%J |
A For the period June 7, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
J The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2005 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 37.1 |
| Fidelity Series Government Money Market Fund 0.08% | 17.5 |
| Fidelity Series Inflation-Protected Bond Index Fund | 11.2 |
| Fidelity Series Emerging Markets Opportunities Fund | 6.9 |
| Fidelity Series Short-Term Credit Fund | 3.7 |
| Fidelity Series Commodity Strategy Fund | 2.7 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2.7 |
| Fidelity Series Overseas Fund | 1.8 |
| Fidelity Series International Growth Fund | 1.8 |
| Fidelity Series International Value Fund | 1.7 |
| | 87.1 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 11.7% |
| | International Equity Funds | 14.1% |
| | Bond Funds | 52.9% |
| | Short-Term Funds | 21.3% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® 2005 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.08% to 0.08% 4/1/21 to 4/22/21 | | | |
| (Cost $499,988) | | 500,000 | 499,999 |
| | | Shares | Value |
|
| Domestic Equity Funds - 11.7% | | | |
| Fidelity Series All-Sector Equity Fund (a) | | 332,482 | $3,900,019 |
| Fidelity Series Blue Chip Growth Fund (a) | | 355,487 | 6,189,024 |
| Fidelity Series Commodity Strategy Fund (a) | | 6,040,451 | 29,598,209 |
| Fidelity Series Growth Company Fund (a) | | 675,132 | 15,804,841 |
| Fidelity Series Intrinsic Opportunities Fund (a) | | 734,326 | 15,846,757 |
| Fidelity Series Large Cap Stock Fund (a) | | 750,907 | 13,854,228 |
| Fidelity Series Large Cap Value Index Fund (a) | | 347,636 | 5,106,767 |
| Fidelity Series Opportunistic Insights Fund (a) | | 397,956 | 8,090,455 |
| Fidelity Series Small Cap Discovery Fund (a) | | 119,909 | 1,733,878 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 327,258 | 5,799,007 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 820,619 | 11,710,240 |
| Fidelity Series Value Discovery Fund (a) | | 565,704 | 9,006,001 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $85,342,568) | | | 126,639,426 |
|
| International Equity Funds - 14.1% | | | |
| Fidelity Series Canada Fund (a) | | 528,941 | 6,754,581 |
| Fidelity Series Emerging Markets Fund (a) | | 693,910 | 8,111,803 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 2,899,964 | 74,413,071 |
| Fidelity Series International Growth Fund (a) | | 1,055,074 | 18,928,030 |
| Fidelity Series International Small Cap Fund (a) | | 289,449 | 5,997,388 |
| Fidelity Series International Value Fund (a) | | 1,742,571 | 18,906,898 |
| Fidelity Series Overseas Fund (a) | | 1,503,563 | 18,959,926 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $100,198,570) | | | 152,071,697 |
|
| Bond Funds - 52.9% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 630,071 | 5,721,042 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 186,466 | 1,868,386 |
| Fidelity Series Floating Rate High Income Fund (a) | | 125,378 | 1,152,223 |
| Fidelity Series High Income Fund (a) | | 724,707 | 6,797,750 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 11,278,680 | 121,133,026 |
| Fidelity Series International Credit Fund (a) | | 61,058 | 609,358 |
| Fidelity Series Investment Grade Bond Fund (a) | | 34,641,429 | 399,415,672 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 3,689,861 | 29,149,903 |
| Fidelity Series Real Estate Income Fund (a) | | 371,292 | 4,102,779 |
| TOTAL BOND FUNDS | | | |
| (Cost $558,902,320) | | | 569,950,139 |
|
| Short-Term Funds - 21.3% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 743,925 | 744,074 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 188,976,392 | 188,976,392 |
| Fidelity Series Short-Term Credit Fund (a) | | 3,911,047 | 39,775,353 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $228,775,638) | | | 229,495,819 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $973,719,084) | | | 1,078,657,080 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (388,722) |
| NET ASSETS - 100% | | | $1,078,268,358 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $2,765 |
| Total | $2,765 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series All-Sector Equity Fund | $3,341,429 | $753,709 | $1,759,495 | $467,994 | $(11,522) | $1,575,898 | $3,900,019 |
| Fidelity Series Blue Chip Growth Fund | 5,848,737 | 2,794,867 | 4,898,576 | 2,313,400 | 1,218,456 | 1,225,540 | 6,189,024 |
| Fidelity Series Canada Fund | 4,425,852 | 2,093,870 | 2,559,041 | 141,840 | 22,843 | 2,771,057 | 6,754,581 |
| Fidelity Series Commodity Strategy Fund | 31,075,670 | 6,542,327 | 15,853,803 | 121,250 | (4,713,031) | 12,547,046 | 29,598,209 |
| Fidelity Series Emerging Markets Debt Fund | 5,874,966 | 920,150 | 1,850,552 | 320,998 | (80,189) | 856,667 | 5,721,042 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 2,165,469 | 266,058 | 29,180 | 3,590 | (34,615) | 1,868,386 |
| Fidelity Series Emerging Markets Fund | 4,422,703 | 2,767,432 | 2,708,169 | 119,987 | 219,650 | 3,410,187 | 8,111,803 |
| Fidelity Series Emerging Markets Opportunities Fund | 41,341,535 | 27,329,113 | 27,539,973 | 2,311,577 | 3,981,739 | 29,300,657 | 74,413,071 |
| Fidelity Series Floating Rate High Income Fund | 1,452,141 | 184,661 | 693,918 | 67,431 | (43,106) | 252,445 | 1,152,223 |
| Fidelity Series Government Money Market Fund 0.08% | 175,058,964 | 62,689,687 | 48,772,259 | 319,972 | -- | -- | 188,976,392 |
| Fidelity Series Growth Company Fund | 12,367,976 | 5,821,447 | 9,321,665 | 4,139,530 | 3,701,277 | 3,235,806 | 15,804,841 |
| Fidelity Series High Income Fund | 6,364,947 | 1,215,557 | 1,677,984 | 394,081 | 3,380 | 891,850 | 6,797,750 |
| Fidelity Series Inflation-Protected Bond Index Fund | 104,045,608 | 27,049,467 | 16,883,394 | 1,570,918 | 88,036 | 6,833,309 | 121,133,026 |
| Fidelity Series International Credit Fund | 544,319 | 41,850 | -- | 41,850 | -- | 23,189 | 609,358 |
| Fidelity Series International Growth Fund | 24,530,106 | 4,845,696 | 15,548,487 | 2,863,172 | 4,165,267 | 935,448 | 18,928,030 |
| Fidelity Series International Small Cap Fund | 5,821,515 | 672,308 | 3,133,652 | 52,835 | 615,171 | 2,022,046 | 5,997,388 |
| Fidelity Series International Value Fund | 20,154,683 | 3,419,518 | 13,191,809 | 565,867 | (363,196) | 8,887,702 | 18,906,898 |
| Fidelity Series Intrinsic Opportunities Fund | 12,720,680 | 2,434,069 | 7,753,254 | 727,801 | 2,392,884 | 6,052,378 | 15,846,757 |
| Fidelity Series Investment Grade Bond Fund | 347,158,396 | 114,565,932 | 60,096,278 | 23,768,036 | (457,643) | (1,754,735) | 399,415,672 |
| Fidelity Series Large Cap Stock Fund | 11,191,527 | 2,831,959 | 6,156,395 | 804,968 | 1,135,823 | 4,851,314 | 13,854,228 |
| Fidelity Series Large Cap Value Index Fund | 3,132,969 | 2,410,629 | 2,271,260 | 114,075 | 129,565 | 1,704,864 | 5,106,767 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 23,764,173 | 17,993,683 | 5,259,481 | 2,760,202 | 307,804 | (7,656,276) | 29,149,903 |
| Fidelity Series Opportunistic Insights Fund | 6,975,934 | 2,007,201 | 3,264,816 | 1,295,401 | 878,573 | 1,493,563 | 8,090,455 |
| Fidelity Series Overseas Fund | 18,649,964 | 4,355,947 | 11,812,712 | 228,741 | 83,830 | 7,682,897 | 18,959,926 |
| Fidelity Series Real Estate Income Fund | 3,778,313 | 802,938 | 1,644,894 | 290,277 | (7,645) | 1,174,067 | 4,102,779 |
| Fidelity Series Short-Term Credit Fund | 39,788,012 | 3,451,908 | 4,642,421 | 945,418 | 42,765 | 1,135,089 | 39,775,353 |
| Fidelity Series Small Cap Discovery Fund | 1,388,092 | 189,758 | 994,520 | 49,395 | 153,377 | 997,171 | 1,733,878 |
| Fidelity Series Small Cap Opportunities Fund | 4,596,747 | 558,086 | 2,526,925 | 130,528 | 629,498 | 2,541,601 | 5,799,007 |
| Fidelity Series Stock Selector Large Cap Value Fund | 8,517,312 | 4,526,565 | 6,350,742 | 277,876 | 552,806 | 4,464,299 | 11,710,240 |
| Fidelity Series Value Discovery Fund | 6,051,852 | 3,563,907 | 4,446,232 | 208,095 | 479,798 | 3,356,676 | 9,006,001 |
| | $934,385,122 | $310,999,710 | $283,878,765 | $47,442,695 | $15,129,800 | $100,777,140 | $1,077,413,007 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments | $499,999 | $-- | $499,999 | $-- |
| Domestic Equity Funds | 126,639,426 | 126,639,426 | -- | -- |
| International Equity Funds | 152,071,697 | 152,071,697 | -- | -- |
| Bond Funds | 569,950,139 | 569,950,139 | -- | -- |
| Short-Term Funds | 229,495,819 | 229,495,819 | -- | -- |
| Total Investments in Securities: | $1,078,657,080 | $1,078,157,081 | $499,999 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2005 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $499,988) | $499,999 | |
| Fidelity Central Funds (cost $744,074) | 744,074 | |
| Other affiliated issuers (cost $972,475,022) | 1,077,413,007 | |
| Total Investment in Securities (cost $973,719,084) | | $1,078,657,080 |
| Receivable for investments sold | | 6,833,377 |
| Receivable for fund shares sold | | 2,123,095 |
| Distributions receivable from Fidelity Central Funds | | 37 |
| Receivable for daily variation margin on futures contracts | | 11,180 |
| Total assets | | 1,087,624,769 |
| Liabilities | | |
| Payable for investments purchased | $5,828,721 | |
| Payable for fund shares redeemed | 3,128,178 | |
| Accrued management fee | 399,510 | |
| Other payables and accrued expenses | 2 | |
| Total liabilities | | 9,356,411 |
| Net Assets | | $1,078,268,358 |
| Net Assets consist of: | | |
| Paid in capital | | $948,941,749 |
| Total accumulated earnings (loss) | | 129,326,609 |
| Net Assets | | $1,078,268,358 |
| Net Asset Value and Maximum Offering Price | | |
| Fidelity Freedom 2005 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($629,097,981 ÷ 48,173,198 shares) | | $13.06 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($356,834,852 ÷ 27,369,610 shares) | | $13.04 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($92,335,525 ÷ 7,098,931 shares) | | $13.01 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $16,111,927 |
| Interest | | 1,355 |
| Income from Fidelity Central Funds | | 2,765 |
| Total income | | 16,116,047 |
| Expenses | | |
| Management fee | $4,600,959 | |
| Independent trustees' fees and expenses | 3,034 | |
| Total expenses before reductions | 4,603,993 | |
| Expense reductions | (104) | |
| Total expenses after reductions | | 4,603,889 |
| Net investment income (loss) | | 11,512,158 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (280) | |
| Other affiliated issuers | 15,129,800 | |
| Futures contracts | (44,819) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 31,330,768 | |
| Total net realized gain (loss) | | 46,415,469 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (677) | |
| Fidelity Central Funds | (42) | |
| Other affiliated issuers | 100,777,140 | |
| Total change in net unrealized appreciation (depreciation) | | 100,776,421 |
| Net gain (loss) | | 147,191,890 |
| Net increase (decrease) in net assets resulting from operations | | $158,704,048 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $11,512,158 | $18,665,641 |
| Net realized gain (loss) | 46,415,469 | 25,639,455 |
| Change in net unrealized appreciation (depreciation) | 100,776,421 | (42,129,928) |
| Net increase (decrease) in net assets resulting from operations | 158,704,048 | 2,175,168 |
| Distributions to shareholders | (46,360,027) | (44,000,478) |
| Share transactions - net increase (decrease) | 27,604,219 | 18,264,976 |
| Total increase (decrease) in net assets | 139,948,240 | (23,560,334) |
| Net Assets | | |
| Beginning of period | 938,320,118 | 961,880,452 |
| End of period | $1,078,268,358 | $938,320,118 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom 2005 Fund
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.68 | $12.20 | $12.50 | $12.20 | $11.66 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .14 | .23 | .24 | .19 | .20 |
| Net realized and unrealized gain (loss) | 1.81 | (.19) | .11 | .59 | .71 |
| Total from investment operations | 1.95 | .04 | .35 | .78 | .91 |
| Distributions from net investment income | (.15) | (.24) | (.24) | (.18) | (.22)B |
| Distributions from net realized gain | (.42) | (.31) | (.41) | (.30) | (.15)B |
| Total distributions | (.57) | (.56)C | (.65) | (.48) | (.37) |
| Net asset value, end of period | $13.06 | $11.68 | $12.20 | $12.50 | $12.20 |
| Total ReturnD | 16.89% | .12% | 3.03% | 6.43% | 7.91% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .47% | .47% | .48% | .41% | - %G |
| Expenses net of fee waivers, if any | .47% | .47% | .48% | .41% | -% |
| Expenses net of all reductions | .47% | .47% | .48% | .41% | -% |
| Net investment income (loss) | 1.07% | 1.89% | 1.98% | 1.52% | 1.70% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $629,098 | $530,872 | $563,036 | $590,056 | $583,754 |
| Portfolio turnover rateH | 27% | 24% | 26% | 23%I | 31% |
A Calculated based on average shares outstanding during the period.
B The amounts shown reflect certain reclassifications related to book to tax differences that were made in the year shown.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount represents less than .005%.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
I The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2005 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $11.66 | $12.18 | $12.49 | $12.48 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .14 | .24 | .25 | .21 |
| Net realized and unrealized gain (loss) | 1.82 | (.19) | .10 | .15 |
| Total from investment operations | 1.96 | .05 | .35 | .36 |
| Distributions from net investment income | (.16) | (.25) | (.24) | (.16) |
| Distributions from net realized gain | (.42) | (.31) | (.41) | (.19) |
| Total distributions | (.58) | (.57)C | (.66)C | (.35) |
| Net asset value, end of period | $13.04 | $11.66 | $12.18 | $12.49 |
| Total ReturnD,E | 16.99% | .18% | 3.00% | 2.89% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .42% | .42% | .43% | .44%H |
| Expenses net of fee waivers, if any | .42% | .42% | .43% | .44%H |
| Expenses net of all reductions | .42% | .42% | .43% | .44%H |
| Net investment income (loss) | 1.12% | 1.94% | 2.03% | 2.37%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $356,835 | $338,902 | $357,174 | $422,622 |
| Portfolio turnover rateI | 27% | 24% | 26% | 23%J |
A For the period July 20, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
J The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2005 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $11.64 | $12.17 | $12.49 | $12.36 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .15 | .25 | .25 | .20 |
| Net realized and unrealized gain (loss) | 1.81 | (.20) | .11 | .29 |
| Total from investment operations | 1.96 | .05 | .36 | .49 |
| Distributions from net investment income | (.17) | (.27) | (.27) | (.16) |
| Distributions from net realized gain | (.42) | (.31) | (.41) | (.19) |
| Total distributions | (.59) | (.58) | (.68) | (.36)C |
| Net asset value, end of period | $13.01 | $11.64 | $12.17 | $12.49 |
| Total ReturnD,E | 17.02% | .22% | 3.15% | 3.92% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .37% | .37% | .38%H | .38%I |
| Expenses net of fee waivers, if any | .37% | .37% | .38%H | .38%I |
| Expenses net of all reductions | .37% | .37% | .38%H | .38%I |
| Net investment income (loss) | 1.17% | 1.99% | 2.08% | 1.93%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $92,336 | $68,546 | $41,670 | $9,983 |
| Portfolio turnover rateJ | 27% | 24% | 26% | 23%K |
A For the period June 7, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
K The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2010 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 33.6 |
| Fidelity Series Government Money Market Fund 0.08% | 14.1 |
| Fidelity Series Inflation-Protected Bond Index Fund | 9.7 |
| Fidelity Series Emerging Markets Opportunities Fund | 7.9 |
| Fidelity Series Short-Term Credit Fund | 2.9 |
| Fidelity Series Commodity Strategy Fund | 2.7 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2.7 |
| Fidelity Series Overseas Fund | 2.4 |
| Fidelity Series International Growth Fund | 2.4 |
| Fidelity Series International Value Fund | 2.4 |
| | 80.8 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 17.2% |
| | International Equity Funds | 17.7% |
| | Bond Funds | 47.9% |
| | Short-Term Funds | 17.1% |
| | Short-Term Investments | 0.1% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® 2010 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.1% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.08% to 0.08% 4/1/21 to 4/22/21 | | | |
| (Cost $2,749,937) | | 2,750,000 | 2,749,992 |
| | | Shares | Value |
|
| Domestic Equity Funds - 17.2% | | | |
| Fidelity Series All-Sector Equity Fund (a) | | 2,763,046 | $32,410,531 |
| Fidelity Series Blue Chip Growth Fund (a) | | 2,954,142 | 51,431,612 |
| Fidelity Series Commodity Strategy Fund (a) | | 31,288,634 | 153,314,305 |
| Fidelity Series Growth Company Fund (a) | | 5,609,921 | 131,328,256 |
| Fidelity Series Intrinsic Opportunities Fund (a) | | 6,103,079 | 131,704,442 |
| Fidelity Series Large Cap Stock Fund (a) | | 6,240,672 | 115,140,392 |
| Fidelity Series Large Cap Value Index Fund (a) | | 2,889,239 | 42,442,922 |
| Fidelity Series Opportunistic Insights Fund (a) | | 3,307,121 | 67,233,767 |
| Fidelity Series Small Cap Discovery Fund (a) | | 996,490 | 14,409,248 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 2,719,558 | 48,190,572 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 6,820,330 | 97,326,116 |
| Fidelity Series Value Discovery Fund (a) | | 4,701,559 | 74,848,814 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $616,831,654) | | | 959,780,977 |
|
| International Equity Funds - 17.7% | | | |
| Fidelity Series Canada Fund (a) | | 3,808,526 | 48,634,875 |
| Fidelity Series Emerging Markets Fund (a) | | 4,132,969 | 48,314,413 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 17,188,863 | 441,066,223 |
| Fidelity Series International Growth Fund (a) | | 7,596,823 | 136,287,006 |
| Fidelity Series International Small Cap Fund (a) | | 2,084,235 | 43,185,359 |
| Fidelity Series International Value Fund (a) | | 12,547,062 | 136,135,624 |
| Fidelity Series Overseas Fund (a) | | 10,825,977 | 136,515,566 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $646,483,491) | | | 990,139,066 |
|
| Bond Funds - 47.9% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 3,244,966 | 29,464,295 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 963,756 | 9,656,836 |
| Fidelity Series Floating Rate High Income Fund (a) | | 645,889 | 5,935,721 |
| Fidelity Series High Income Fund (a) | | 3,734,386 | 35,028,537 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 50,461,911 | 541,960,921 |
| Fidelity Series International Credit Fund (a) | | 410,876 | 4,100,541 |
| Fidelity Series Investment Grade Bond Fund (a) | | 162,551,357 | 1,874,217,150 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 19,122,221 | 151,065,548 |
| Fidelity Series Real Estate Income Fund (a) | | 1,921,034 | 21,227,426 |
| TOTAL BOND FUNDS | | | |
| (Cost $2,616,822,078) | | | 2,672,656,975 |
|
| Short-Term Funds - 17.1% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 4,294,802 | 4,295,661 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 786,773,183 | 786,773,183 |
| Fidelity Series Short-Term Credit Fund (a) | | 16,224,389 | 165,002,037 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $953,040,727) | | | 956,070,881 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $4,835,927,887) | | | 5,581,397,891 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (2,184,598) |
| NET ASSETS - 100% | | | $5,579,213,293 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $12,856 |
| Total | $12,856 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series All-Sector Equity Fund | $28,032,741 | $3,922,984 | $12,722,066 | $3,819,173 | $(47,287) | $13,224,159 | $32,410,531 |
| Fidelity Series Blue Chip Growth Fund | 51,035,732 | 18,181,503 | 41,345,117 | 17,869,645 | 15,559,322 | 8,000,172 | 51,431,612 |
| Fidelity Series Canada Fund | 33,241,204 | 11,851,196 | 16,388,605 | 1,002,151 | (171,461) | 20,102,541 | 48,634,875 |
| Fidelity Series Commodity Strategy Fund | 164,179,523 | 22,567,894 | 73,740,933 | 651,705 | (19,897,298) | 60,205,119 | 153,314,305 |
| Fidelity Series Emerging Markets Debt Fund | 31,151,273 | 2,349,185 | 8,078,189 | 1,646,335 | (411,781) | 4,453,807 | 29,464,295 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 10,795,601 | 1,011,762 | 148,765 | 19,697 | (146,700) | 9,656,836 |
| Fidelity Series Emerging Markets Fund | 27,945,598 | 12,755,684 | 14,094,800 | 702,739 | 1,159,353 | 20,548,578 | 48,314,413 |
| Fidelity Series Emerging Markets Opportunities Fund | 262,352,741 | 115,314,802 | 135,413,360 | 13,548,883 | 26,148,215 | 172,663,825 | 441,066,223 |
| Fidelity Series Floating Rate High Income Fund | 6,783,903 | 473,793 | 2,270,024 | 307,408 | (193,213) | 1,141,262 | 5,935,721 |
| Fidelity Series Government Money Market Fund 0.08% | 768,710,755 | 239,897,935 | 221,835,507 | 1,320,563 | -- | -- | 786,773,183 |
| Fidelity Series Growth Company Fund | 106,586,738 | 37,984,068 | 72,128,961 | 33,521,354 | 35,092,868 | 23,793,543 | 131,328,256 |
| Fidelity Series High Income Fund | 34,118,548 | 2,850,695 | 6,599,426 | 2,017,633 | 21,553 | 4,637,167 | 35,028,537 |
| Fidelity Series Inflation-Protected Bond Index Fund | 474,487,500 | 101,814,083 | 65,609,863 | 6,947,180 | 511,288 | 30,757,913 | 541,960,921 |
| Fidelity Series International Credit Fund | 3,662,875 | 281,622 | -- | 281,623 | -- | 156,044 | 4,100,541 |
| Fidelity Series International Growth Fund | 171,093,288 | 25,026,289 | 95,718,268 | 20,231,355 | 31,838,935 | 4,046,762 | 136,287,006 |
| Fidelity Series International Small Cap Fund | 39,888,556 | 1,433,550 | 16,793,347 | 373,332 | 4,517,165 | 14,139,435 | 43,185,359 |
| Fidelity Series International Value Fund | 142,840,532 | 11,758,658 | 78,654,772 | 4,001,494 | (2,391,501) | 62,582,707 | 136,135,624 |
| Fidelity Series Intrinsic Opportunities Fund | 116,681,353 | 6,428,814 | 62,312,712 | 6,002,370 | 22,618,901 | 48,288,086 | 131,704,442 |
| Fidelity Series Investment Grade Bond Fund | 1,671,514,483 | 479,097,483 | 268,630,118 | 110,596,770 | (983,536) | (6,781,162) | 1,874,217,150 |
| Fidelity Series Large Cap Stock Fund | 102,370,926 | 8,806,733 | 46,327,590 | 6,875,934 | 14,548,962 | 35,741,361 | 115,140,392 |
| Fidelity Series Large Cap Value Index Fund | 28,049,838 | 12,724,961 | 13,929,970 | 926,905 | 951,204 | 14,646,889 | 42,442,922 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 123,188,090 | 90,515,339 | 25,005,057 | 14,249,012 | 1,348,054 | (38,980,878) | 151,065,548 |
| Fidelity Series Opportunistic Insights Fund | 57,705,687 | 11,506,375 | 21,364,349 | 10,516,823 | 8,343,320 | 11,042,734 | 67,233,767 |
| Fidelity Series Overseas Fund | 134,768,955 | 16,125,434 | 69,270,155 | 1,616,184 | 10,585 | 54,880,747 | 136,515,566 |
| Fidelity Series Real Estate Income Fund | 20,106,049 | 1,982,137 | 6,857,516 | 1,460,247 | 206,652 | 5,790,104 | 21,227,426 |
| Fidelity Series Short-Term Credit Fund | 171,248,199 | 13,230,641 | 24,557,026 | 4,047,909 | 356,666 | 4,723,557 | 165,002,037 |
| Fidelity Series Small Cap Discovery Fund | 11,404,842 | 446,562 | 6,746,724 | 400,709 | 1,039,414 | 8,265,154 | 14,409,248 |
| Fidelity Series Small Cap Opportunities Fund | 39,828,055 | 1,224,846 | 19,357,091 | 1,072,374 | 5,466,012 | 21,028,750 | 48,190,572 |
| Fidelity Series Stock Selector Large Cap Value Fund | 74,967,864 | 19,615,869 | 39,566,985 | 2,257,972 | 4,671,295 | 37,638,073 | 97,326,116 |
| Fidelity Series Value Discovery Fund | 55,416,843 | 14,630,227 | 27,533,200 | 1,690,835 | 4,111,064 | 28,223,880 | 74,848,814 |
| | $4,953,362,691 | $1,295,594,963 | $1,493,863,493 | $270,105,382 | $154,444,448 | $664,813,629 | $5,574,352,238 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments | $2,749,992 | $-- | $2,749,992 | $-- |
| Domestic Equity Funds | 959,780,977 | 959,780,977 | -- | -- |
| International Equity Funds | 990,139,066 | 990,139,066 | -- | -- |
| Bond Funds | 2,672,656,975 | 2,672,656,975 | -- | -- |
| Short-Term Funds | 956,070,881 | 956,070,881 | -- | -- |
| Total Investments in Securities: | $5,581,397,891 | $5,578,647,899 | $2,749,992 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2010 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $2,749,937) | $2,749,992 | |
| Fidelity Central Funds (cost $4,295,452) | 4,295,661 | |
| Other affiliated issuers (cost $4,828,882,498) | 5,574,352,238 | |
| Total Investment in Securities (cost $4,835,927,887) | | $5,581,397,891 |
| Receivable for investments sold | | 39,613,430 |
| Receivable for fund shares sold | | 10,666,467 |
| Distributions receivable from Fidelity Central Funds | | 212 |
| Receivable for daily variation margin on futures contracts | | 87,305 |
| Total assets | | 5,631,765,305 |
| Liabilities | | |
| Payable for investments purchased | $38,415,097 | |
| Payable for fund shares redeemed | 11,868,298 | |
| Accrued management fee | 2,268,617 | |
| Total liabilities | | 52,552,012 |
| Net Assets | | $5,579,213,293 |
| Net Assets consist of: | | |
| Paid in capital | | $4,649,056,165 |
| Total accumulated earnings (loss) | | 930,157,128 |
| Net Assets | | $5,579,213,293 |
| Net Asset Value and Maximum Offering Price | | |
| Fidelity Freedom 2010 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($3,814,844,874 ÷ 232,340,658 shares) | | $16.42 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($1,444,009,397 ÷ 87,992,147 shares) | | $16.41 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($320,359,022 ÷ 19,594,066 shares) | | $16.35 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $85,944,287 |
| Interest | | 8,038 |
| Income from Fidelity Central Funds | | 12,856 |
| Total income | | 85,965,181 |
| Expenses | | |
| Management fee | $26,303,749 | |
| Independent trustees' fees and expenses | 15,820 | |
| Total expenses before reductions | 26,319,569 | |
| Expense reductions | (69) | |
| Total expenses after reductions | | 26,319,500 |
| Net investment income (loss) | | 59,645,681 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (1,334) | |
| Other affiliated issuers | 154,444,956 | |
| Futures contracts | (2,103,497) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 184,161,095 | |
| Total net realized gain (loss) | | 336,501,220 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (4,064) | |
| Fidelity Central Funds | (297) | |
| Other affiliated issuers | 664,813,629 | |
| Total change in net unrealized appreciation (depreciation) | | 664,809,268 |
| Net gain (loss) | | 1,001,310,488 |
| Net increase (decrease) in net assets resulting from operations | | $1,060,956,169 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $59,645,681 | $105,841,028 |
| Net realized gain (loss) | 336,501,220 | 239,313,376 |
| Change in net unrealized appreciation (depreciation) | 664,809,268 | (382,969,895) |
| Net increase (decrease) in net assets resulting from operations | 1,060,956,169 | (37,815,491) |
| Distributions to shareholders | (330,175,332) | (326,178,030) |
| Share transactions - net increase (decrease) | (125,322,115) | (509,728,586) |
| Total increase (decrease) in net assets | 605,458,722 | (873,722,107) |
| Net Assets | | |
| Beginning of period | 4,973,754,571 | 5,847,476,678 |
| End of period | $5,579,213,293 | $4,973,754,571 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom 2010 Fund
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $14.31 | $15.35 | $15.98 | $15.56 | $14.75 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .17 | .29 | .29 | .24 | .26 |
| Net realized and unrealized gain (loss) | 2.92 | (.43) | .12 | .95 | 1.08 |
| Total from investment operations | 3.09 | (.14) | .41 | 1.19 | 1.34 |
| Distributions from net investment income | (.20) | (.31) | (.30) | (.23) | (.26) |
| Distributions from net realized gain | (.78) | (.60) | (.74) | (.54) | (.26) |
| Total distributions | (.98) | (.90)B | (1.04) | (.77) | (.53)B |
| Net asset value, end of period | $16.42 | $14.31 | $15.35 | $15.98 | $15.56 |
| Total ReturnC | 22.04% | (1.25)% | 2.89% | 7.74% | 9.27% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .51% | .52% | .52%F | .44% | - %G |
| Expenses net of fee waivers, if any | .51% | .52% | .52%F | .44% | -% |
| Expenses net of all reductions | .51% | .52% | .52%F | .44% | -% |
| Net investment income (loss) | 1.08% | 1.84% | 1.90% | 1.47% | 1.69% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $3,814,845 | $3,284,758 | $3,724,077 | $4,038,370 | $4,137,360 |
| Portfolio turnover rateH | 24% | 18% | 20% | 19%I | 23% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
G Amount represents less than .005%.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
I The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2010 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $14.30 | $15.34 | $15.97 | $15.96 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .18 | .30 | .30 | .27 |
| Net realized and unrealized gain (loss) | 2.92 | (.43) | .12 | .31 |
| Total from investment operations | 3.10 | (.13) | .42 | .58 |
| Distributions from net investment income | (.20) | (.31) | (.31) | (.22) |
| Distributions from net realized gain | (.78) | (.60) | (.74) | (.35) |
| Total distributions | (.99)C | (.91) | (1.05) | (.57) |
| Net asset value, end of period | $16.41 | $14.30 | $15.34 | $15.97 |
| Total ReturnD,E | 22.11% | (1.21)% | 2.95% | 3.59% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .45% | .45% | .46% | .47%H |
| Expenses net of fee waivers, if any | .45% | .45% | .46% | .47%H |
| Expenses net of all reductions | .45% | .45% | .46% | .47%H |
| Net investment income (loss) | 1.14% | 1.91% | 1.96% | 2.42%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $1,444,009 | $1,431,597 | $1,909,779 | $2,396,182 |
| Portfolio turnover rateI | 24% | 18% | 20% | 19%J |
A For the period July 20, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
J The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2010 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $14.25 | $15.30 | $15.97 | $15.77 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .19 | .30 | .31 | .27 |
| Net realized and unrealized gain (loss) | 2.91 | (.42) | .11 | .50 |
| Total from investment operations | 3.10 | (.12) | .42 | .77 |
| Distributions from net investment income | (.22) | (.34) | (.35) | (.22) |
| Distributions from net realized gain | (.78) | (.60) | (.74) | (.35) |
| Total distributions | (1.00) | (.93)C | (1.09) | (.57) |
| Net asset value, end of period | $16.35 | $14.25 | $15.30 | $15.97 |
| Total ReturnD,E | 22.23% | (1.14)% | 2.96% | 4.89% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .38% | .39% | .39% | .40%H |
| Expenses net of fee waivers, if any | .38% | .39% | .39% | .40%H |
| Expenses net of all reductions | .38% | .39% | .39% | .40%H |
| Net investment income (loss) | 1.20% | 1.97% | 2.03% | 2.07%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $320,359 | $257,400 | $213,620 | $59,797 |
| Portfolio turnover rateI | 24% | 18% | 20% | 19%J |
A For the period June 7, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
J The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2015 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 29.9 |
| Fidelity Series Government Money Market Fund 0.08% | 10.7 |
| Fidelity Series Emerging Markets Opportunities Fund | 8.9 |
| Fidelity Series Inflation-Protected Bond Index Fund | 8.4 |
| Fidelity Series Intrinsic Opportunities Fund | 3.3 |
| Fidelity Series Growth Company Fund | 3.2 |
| Fidelity Series Overseas Fund | 3.2 |
| Fidelity Series International Growth Fund | 3.1 |
| Fidelity Series International Value Fund | 3.1 |
| Fidelity Series Large Cap Stock Fund | 2.8 |
| | 76.6 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 22.7% |
| | International Equity Funds | 21.4% |
| | Bond Funds | 42.9% |
| | Short-Term Funds | 13.0% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® 2015 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.08% to 0.08% 4/1/21 to 4/22/21 | | | |
| (Cost $4,469,906) | | 4,470,000 | 4,469,989 |
| | | Shares | Value |
|
| Domestic Equity Funds - 22.7% | | | |
| Fidelity Series All-Sector Equity Fund (a) | | 5,722,297 | $67,122,546 |
| Fidelity Series Blue Chip Growth Fund (a) | | 6,117,859 | 106,511,925 |
| Fidelity Series Commodity Strategy Fund (a) | | 46,928,030 | 229,947,348 |
| Fidelity Series Growth Company Fund (a) | | 11,616,292 | 271,937,390 |
| Fidelity Series Intrinsic Opportunities Fund (a) | | 12,639,955 | 272,770,236 |
| Fidelity Series Large Cap Stock Fund (a) | | 12,924,930 | 238,464,957 |
| Fidelity Series Large Cap Value Index Fund (a) | | 5,983,911 | 87,903,646 |
| Fidelity Series Opportunistic Insights Fund (a) | | 6,848,458 | 139,229,148 |
| Fidelity Series Small Cap Discovery Fund (a) | | 2,063,758 | 29,841,945 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 5,632,196 | 99,802,515 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 14,125,448 | 201,570,139 |
| Fidelity Series Value Discovery Fund (a) | | 9,737,269 | 155,017,330 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $1,199,379,341) | | | 1,900,119,125 |
|
| International Equity Funds - 21.4% | | | |
| Fidelity Series Canada Fund (a) | | 7,325,783 | 93,550,247 |
| Fidelity Series Emerging Markets Fund (a) | | 7,005,170 | 81,890,440 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 29,104,918 | 746,832,186 |
| Fidelity Series International Growth Fund (a) | | 14,612,766 | 262,153,029 |
| Fidelity Series International Small Cap Fund (a) | | 4,009,281 | 83,072,296 |
| Fidelity Series International Value Fund (a) | | 24,134,724 | 261,861,757 |
| Fidelity Series Overseas Fund (a) | | 20,824,071 | 262,591,530 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $1,179,030,713) | | | 1,791,951,485 |
|
| Bond Funds - 42.9% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 4,842,180 | 43,966,996 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 1,443,585 | 14,464,721 |
| Fidelity Series Floating Rate High Income Fund (a) | | 963,924 | 8,858,462 |
| Fidelity Series High Income Fund (a) | | 5,576,169 | 52,304,464 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 65,646,230 | 705,040,505 |
| Fidelity Series International Credit Fund (a) | | 624,759 | 6,235,092 |
| Fidelity Series Investment Grade Bond Fund (a) | | 216,771,355 | 2,499,373,727 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 28,661,557 | 226,426,299 |
| Fidelity Series Real Estate Income Fund (a) | | 2,881,134 | 31,836,532 |
| TOTAL BOND FUNDS | | | |
| (Cost $3,496,076,303) | | | 3,588,506,798 |
|
| Short-Term Funds - 13.0% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 6,987,601 | 6,988,999 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 892,734,677 | 892,734,677 |
| Fidelity Series Short-Term Credit Fund (a) | | 18,379,688 | 186,921,427 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $1,083,328,064) | | | 1,086,645,103 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $6,962,284,327) | | | 8,371,692,500 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (3,503,576) |
| NET ASSETS - 100% | | | $8,368,188,924 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $14,598 |
| Total | $14,598 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series All-Sector Equity Fund | $56,547,292 | $8,198,184 | $24,111,307 | $7,802,754 | $1,202,690 | $25,285,687 | $67,122,546 |
| Fidelity Series Blue Chip Growth Fund | 102,390,731 | 37,360,411 | 78,749,573 | 36,092,622 | 29,133,006 | 16,377,350 | 106,511,925 |
| Fidelity Series Canada Fund | 65,763,814 | 19,058,333 | 28,712,209 | 1,897,822 | (611,483) | 38,051,792 | 93,550,247 |
| Fidelity Series Commodity Strategy Fund | 238,815,009 | 36,908,404 | 105,104,039 | 971,207 | (27,152,557) | 86,480,531 | 229,947,348 |
| Fidelity Series Emerging Markets Debt Fund | 45,488,852 | 3,693,340 | 11,050,770 | 2,397,579 | (470,948) | 6,306,522 | 43,966,996 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 15,966,013 | 1,364,998 | 220,732 | 23,137 | (159,431) | 14,464,721 |
| Fidelity Series Emerging Markets Fund | 47,604,094 | 19,510,607 | 21,964,840 | 1,172,746 | 1,824,615 | 34,915,964 | 81,890,440 |
| Fidelity Series Emerging Markets Opportunities Fund | 455,428,436 | 175,151,531 | 215,376,483 | 22,647,236 | 37,882,317 | 293,746,385 | 746,832,186 |
| Fidelity Series Floating Rate High Income Fund | 9,513,559 | 741,883 | 2,713,285 | 429,835 | (246,839) | 1,563,144 | 8,858,462 |
| Fidelity Series Government Money Market Fund 0.08% | 889,239,670 | 330,497,010 | 327,002,003 | 1,475,159 | -- | -- | 892,734,677 |
| Fidelity Series Growth Company Fund | 213,036,213 | 75,748,838 | 132,595,598 | 68,141,928 | 65,962,558 | 49,785,379 | 271,937,390 |
| Fidelity Series High Income Fund | 50,612,414 | 4,530,968 | 9,691,624 | 2,967,045 | (281,596) | 7,134,302 | 52,304,464 |
| Fidelity Series Inflation-Protected Bond Index Fund | 607,324,717 | 160,646,676 | 102,820,523 | 8,938,619 | 639,612 | 39,250,023 | 705,040,505 |
| Fidelity Series International Credit Fund | 5,569,597 | 428,222 | -- | 428,223 | -- | 237,273 | 6,235,092 |
| Fidelity Series International Growth Fund | 308,550,153 | 50,031,403 | 161,916,790 | 38,336,082 | 53,007,702 | 12,480,561 | 262,153,029 |
| Fidelity Series International Small Cap Fund | 72,749,871 | 3,386,240 | 27,815,263 | 706,803 | 7,254,626 | 27,496,822 | 83,072,296 |
| Fidelity Series International Value Fund | 263,255,626 | 25,053,737 | 139,415,188 | 7,596,514 | 1,188,545 | 111,779,037 | 261,861,757 |
| Fidelity Series Intrinsic Opportunities Fund | 238,528,707 | 13,788,029 | 123,810,501 | 12,167,681 | 43,098,798 | 101,165,203 | 272,770,236 |
| Fidelity Series Investment Grade Bond Fund | 2,164,644,980 | 744,866,551 | 397,999,148 | 144,315,130 | (442,590) | (11,696,066) | 2,499,373,727 |
| Fidelity Series Large Cap Stock Fund | 205,286,549 | 23,174,045 | 92,020,258 | 13,943,687 | 19,294,044 | 82,730,577 | 238,464,957 |
| Fidelity Series Large Cap Value Index Fund | 56,345,334 | 25,881,134 | 26,047,636 | 1,884,452 | 1,760,376 | 29,964,438 | 87,903,646 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 185,243,180 | 143,004,710 | 45,923,771 | 21,191,858 | 3,298,175 | (59,195,995) | 226,426,299 |
| Fidelity Series Opportunistic Insights Fund | 115,784,325 | 24,195,251 | 39,362,435 | 21,312,929 | 15,833,371 | 22,778,636 | 139,229,148 |
| Fidelity Series Overseas Fund | 252,740,831 | 26,091,521 | 118,533,934 | 3,060,181 | (1,127,330) | 103,420,442 | 262,591,530 |
| Fidelity Series Real Estate Income Fund | 28,831,604 | 3,031,374 | 8,620,516 | 2,056,529 | 158,222 | 8,435,848 | 31,836,532 |
| Fidelity Series Short-Term Credit Fund | 189,382,610 | 14,330,034 | 22,389,841 | 4,481,547 | 321,819 | 5,276,805 | 186,921,427 |
| Fidelity Series Small Cap Discovery Fund | 22,832,454 | 1,377,746 | 13,171,674 | 814,081 | 1,913,148 | 16,890,271 | 29,841,945 |
| Fidelity Series Small Cap Opportunities Fund | 79,771,188 | 5,478,905 | 39,438,113 | 2,182,170 | 11,417,757 | 42,572,778 | 99,802,515 |
| Fidelity Series Stock Selector Large Cap Value Fund | 150,151,660 | 37,374,445 | 72,701,744 | 4,589,831 | 9,345,832 | 77,399,946 | 201,570,139 |
| Fidelity Series Value Discovery Fund | 112,117,914 | 29,119,851 | 52,190,511 | 3,437,008 | 7,534,613 | 58,435,463 | 155,017,330 |
| | $7,233,551,384 | $2,058,625,396 | $2,442,614,575 | $437,659,990 | 281,761,620 | $1,228,909,687 | $8,360,233,512 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments | $4,469,989 | $-- | $4,469,989 | $-- |
| Domestic Equity Funds | 1,900,119,125 | 1,900,119,125 | -- | -- |
| International Equity Funds | 1,791,951,485 | 1,791,951,485 | -- | -- |
| Bond Funds | 3,588,506,798 | 3,588,506,798 | -- | -- |
| Short-Term Funds | 1,086,645,103 | 1,086,645,103 | -- | -- |
| Total Investments in Securities: | $8,371,692,500 | $8,367,222,511 | $4,469,989 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2015 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $4,469,906) | $4,469,989 | |
| Fidelity Central Funds (cost $6,988,656) | 6,988,999 | |
| Other affiliated issuers (cost $6,950,825,765) | 8,360,233,512 | |
| Total Investment in Securities (cost $6,962,284,327) | | $8,371,692,500 |
| Receivable for investments sold | | 69,446,967 |
| Receivable for fund shares sold | | 31,425,969 |
| Distributions receivable from Fidelity Central Funds | | 344 |
| Receivable for daily variation margin on futures contracts | | 107,510 |
| Other receivables | | 1,516 |
| Total assets | | 8,472,674,806 |
| Liabilities | | |
| Payable for investments purchased | $64,636,565 | |
| Payable for fund shares redeemed | 36,239,064 | |
| Accrued management fee | 3,608,740 | |
| Other payables and accrued expenses | 1,513 | |
| Total liabilities | | 104,485,882 |
| Net Assets | | $8,368,188,924 |
| Net Assets consist of: | | |
| Paid in capital | | $6,634,976,550 |
| Total accumulated earnings (loss) | | 1,733,212,374 |
| Net Assets | | $8,368,188,924 |
| Net Asset Value and Maximum Offering Price | | |
| Fidelity Freedom 2015 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($5,028,434,696 ÷ 367,365,073 shares) | | $13.69 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($2,592,939,785 ÷ 189,668,696 shares) | | $13.67 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($746,814,443 ÷ 54,790,186 shares) | | $13.63 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $130,289,297 |
| Interest | | 12,734 |
| Income from Fidelity Central Funds | | 14,598 |
| Total income | | 130,316,629 |
| Expenses | | |
| Management fee | $41,343,325 | |
| Independent trustees' fees and expenses | 23,344 | |
| Total expenses before reductions | 41,366,669 | |
| Expense reductions | (89) | |
| Total expenses after reductions | | 41,366,580 |
| Net investment income (loss) | | 88,950,049 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (1,619) | |
| Other affiliated issuers | 281,761,624 | |
| Futures contracts | (5,262,175) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 307,370,693 | |
| Total net realized gain (loss) | | 583,868,523 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (6,444) | |
| Fidelity Central Funds | (473) | |
| Other affiliated issuers | 1,228,909,687 | |
| Total change in net unrealized appreciation (depreciation) | | 1,228,902,770 |
| Net gain (loss) | | 1,812,771,293 |
| Net increase (decrease) in net assets resulting from operations | | $1,901,721,342 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $88,950,049 | $156,027,399 |
| Net realized gain (loss) | 583,868,523 | 432,413,126 |
| Change in net unrealized appreciation (depreciation) | 1,228,902,770 | (752,576,562) |
| Net increase (decrease) in net assets resulting from operations | 1,901,721,342 | (164,136,037) |
| Distributions to shareholders | (559,387,838) | (571,740,150) |
| Share transactions - net increase (decrease) | (234,210,686) | (910,583,607) |
| Total increase (decrease) in net assets | 1,108,122,818 | (1,646,459,794) |
| Net Assets | | |
| Beginning of period | 7,260,066,106 | 8,906,525,900 |
| End of period | $8,368,188,924 | $7,260,066,106 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom 2015 Fund
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.53 | $12.68 | $13.33 | $12.82 | $12.03 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .14 | .23 | .23 | .19 | .21 |
| Net realized and unrealized gain (loss) | 2.94 | (.52) | .08 | .97 | 1.04 |
| Total from investment operations | 3.08 | (.29) | .31 | 1.16 | 1.25 |
| Distributions from net investment income | (.16) | (.24) | (.24) | (.19) | (.21) |
| Distributions from net realized gain | (.76) | (.62) | (.73) | (.46) | (.24) |
| Total distributions | (.92) | (.86) | (.96)B | (.65) | (.46)B |
| Net asset value, end of period | $13.69 | $11.53 | $12.68 | $13.33 | $12.82 |
| Total ReturnC | 27.45% | (2.80)% | 2.74% | 9.15% | 10.63% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .55% | .56% | .57% | .48% | - %F |
| Expenses net of fee waivers, if any | .55% | .56% | .57% | .48% | -% |
| Expenses net of all reductions | .55% | .56% | .57% | .48% | -% |
| Net investment income (loss) | 1.07% | 1.80% | 1.82% | 1.40% | 1.69% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $5,028,435 | $4,174,065 | $4,946,449 | $5,380,580 | $5,327,313 |
| Portfolio turnover rateG | 26% | 21% | 19% | 23%H | 21% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount represents less than .005%.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
H The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2015 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $11.52 | $12.66 | $13.31 | $13.21 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .15 | .24 | .24 | .22 |
| Net realized and unrealized gain (loss) | 2.93 | (.51) | .08 | .34 |
| Total from investment operations | 3.08 | (.27) | .32 | .56 |
| Distributions from net investment income | (.17) | (.25) | (.25) | (.18) |
| Distributions from net realized gain | (.76) | (.62) | (.73) | (.29) |
| Total distributions | (.93) | (.87) | (.97)C | (.46)C |
| Net asset value, end of period | $13.67 | $11.52 | $12.66 | $13.31 |
| Total ReturnD,E | 27.45% | (2.67)% | 2.80% | 4.25% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .48% | .49% | .50% | .51%H,I |
| Expenses net of fee waivers, if any | .48% | .49% | .50% | .51%H,I |
| Expenses net of all reductions | .48% | .49% | .50% | .51%H,I |
| Net investment income (loss) | 1.14% | 1.87% | 1.89% | 2.39%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $2,592,940 | $2,524,326 | $3,471,921 | $4,624,065 |
| Portfolio turnover rateJ | 26% | 21% | 19% | 23%K |
A For the period July 20, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
K The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2015 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $11.49 | $12.64 | $13.32 | $13.03 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .16 | .25 | .25 | .21 |
| Net realized and unrealized gain (loss) | 2.92 | (.51) | .08 | .55 |
| Total from investment operations | 3.08 | (.26) | .33 | .76 |
| Distributions from net investment income | (.18) | (.27) | (.28) | (.18) |
| Distributions from net realized gain | (.76) | (.62) | (.73) | (.29) |
| Total distributions | (.94) | (.89) | (1.01) | (.47) |
| Net asset value, end of period | $13.63 | $11.49 | $12.64 | $13.32 |
| Total ReturnC,D | 27.58% | (2.61)% | 2.87% | 5.80% |
| Ratios to Average Net AssetsE,F | | | | |
| Expenses before reductions | .40% | .41% | .41% | .42%G |
| Expenses net of fee waivers, if any | .40% | .41% | .41% | .42%G |
| Expenses net of all reductions | .40% | .41% | .41% | .42%G |
| Net investment income (loss) | 1.22% | 1.95% | 1.97% | 1.88%G |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $746,814 | $561,675 | $488,156 | $114,268 |
| Portfolio turnover rateH | 26% | 21% | 19% | 23%I |
A For the period June 7, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
I The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2020 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 26.1 |
| Fidelity Series Emerging Markets Opportunities Fund | 9.9 |
| Fidelity Series Government Money Market Fund 0.08% | 7.4 |
| Fidelity Series Inflation-Protected Bond Index Fund | 7.2 |
| Fidelity Series Intrinsic Opportunities Fund | 4.1 |
| Fidelity Series Growth Company Fund | 4.1 |
| Fidelity Series Overseas Fund | 3.8 |
| Fidelity Series International Growth Fund | 3.8 |
| Fidelity Series International Value Fund | 3.8 |
| Fidelity Series Large Cap Stock Fund | 3.6 |
| | 73.8 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 28.1% |
| | International Equity Funds | 25.0% |
| | Bond Funds | 37.9% |
| | Short-Term Funds | 9.0% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® 2020 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.08% to 0.08% 4/1/21 to 4/22/21 | | | |
| (Cost $12,529,821) | | 12,530,000 | 12,529,982 |
| | | Shares | Value |
|
| Domestic Equity Funds - 28.1% | | | |
| Fidelity Series All-Sector Equity Fund (a) | | 22,809,241 | $267,552,400 |
| Fidelity Series Blue Chip Growth Fund (a) | | 24,383,664 | 424,519,598 |
| Fidelity Series Commodity Strategy Fund (a) | | 147,461,849 | 722,563,061 |
| Fidelity Series Growth Company Fund (a) | | 46,288,259 | 1,083,608,135 |
| Fidelity Series Intrinsic Opportunities Fund (a) | | 50,384,481 | 1,087,297,100 |
| Fidelity Series Large Cap Stock Fund (a) | | 51,519,982 | 950,543,675 |
| Fidelity Series Large Cap Value Index Fund (a) | | 23,852,672 | 350,395,752 |
| Fidelity Series Opportunistic Insights Fund (a) | | 27,296,713 | 554,942,168 |
| Fidelity Series Small Cap Discovery Fund (a) | | 8,226,395 | 118,953,675 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 22,452,128 | 397,851,709 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 56,306,193 | 803,489,378 |
| Fidelity Series Value Discovery Fund (a) | | 38,813,770 | 617,915,215 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $4,671,905,548) | | | 7,379,631,866 |
|
| International Equity Funds - 25.0% | | | |
| Fidelity Series Canada Fund (a) | | 27,953,580 | 356,967,222 |
| Fidelity Series Emerging Markets Fund (a) | | 24,460,429 | 285,942,410 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 101,561,726 | 2,606,073,878 |
| Fidelity Series International Growth Fund (a) | | 55,759,880 | 1,000,332,240 |
| Fidelity Series International Small Cap Fund (a) | | 15,299,598 | 317,007,679 |
| Fidelity Series International Value Fund (a) | | 92,094,359 | 999,223,799 |
| Fidelity Series Overseas Fund (a) | | 79,460,980 | 1,002,002,952 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $4,403,882,448) | | | 6,567,550,180 |
|
| Bond Funds - 37.9% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 15,170,180 | 137,745,234 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 4,514,231 | 45,232,590 |
| Fidelity Series Floating Rate High Income Fund (a) | | 3,013,142 | 27,690,771 |
| Fidelity Series High Income Fund (a) | | 17,437,930 | 163,567,784 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 175,277,705 | 1,882,482,550 |
| Fidelity Series International Credit Fund (a) | | 2,121,698 | 21,174,543 |
| Fidelity Series Investment Grade Bond Fund (a) | | 595,422,817 | 6,865,225,081 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 89,942,553 | 710,546,169 |
| Fidelity Series Real Estate Income Fund (a) | | 9,047,725 | 99,977,363 |
| TOTAL BOND FUNDS | | | |
| (Cost $9,775,083,339) | | | 9,953,642,085 |
|
| Short-Term Funds - 9.0% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 28,080,369 | 28,085,985 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 1,944,701,355 | 1,944,701,355 |
| Fidelity Series Short-Term Credit Fund (a) | | 39,917,575 | 405,961,739 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $2,371,495,821) | | | 2,378,749,079 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $21,234,896,977) | | | 26,292,103,192 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (10,771) |
| NET ASSETS - 100% | | | $26,292,092,421 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $43,368 |
| Total | $43,368 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series All-Sector Equity Fund | $222,157,681 | $31,829,006 | $89,829,442 | $31,021,168 | $3,775,220 | $99,619,935 | $267,552,400 |
| Fidelity Series Blue Chip Growth Fund | 401,275,081 | 148,961,951 | 299,189,657 | 142,177,822 | 108,815,629 | 64,656,594 | 424,519,598 |
| Fidelity Series Canada Fund | 248,557,602 | 61,229,304 | 92,495,278 | 7,205,655 | (2,135,151) | 141,810,745 | 356,967,222 |
| Fidelity Series Commodity Strategy Fund | 750,476,816 | 119,795,563 | 333,237,661 | 3,005,756 | (84,538,357) | 270,066,700 | 722,563,061 |
| Fidelity Series Emerging Markets Debt Fund | 141,311,043 | 9,830,548 | 31,373,216 | 7,396,428 | (1,889,678) | 19,866,537 | 137,745,234 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 49,398,803 | 3,822,091 | 692,251 | 59,877 | (403,999) | 45,232,590 |
| Fidelity Series Emerging Markets Fund | 167,501,987 | 65,150,488 | 74,339,987 | 4,078,909 | 6,308,166 | 121,321,756 | 285,942,410 |
| Fidelity Series Emerging Markets Opportunities Fund | 1,611,797,769 | 562,776,485 | 715,782,910 | 78,821,385 | 127,375,744 | 1,019,906,790 | 2,606,073,878 |
| Fidelity Series Floating Rate High Income Fund | 27,965,717 | 1,806,205 | 5,906,062 | 1,259,523 | (603,431) | 4,428,342 | 27,690,771 |
| Fidelity Series Government Money Market Fund 0.08% | 2,093,461,675 | 826,929,612 | 975,689,932 | 3,324,336 | -- | -- | 1,944,701,355 |
| Fidelity Series Growth Company Fund | 832,687,196 | 299,479,614 | 492,453,841 | 269,579,429 | 242,898,582 | 200,996,584 | 1,083,608,135 |
| Fidelity Series High Income Fund | 159,771,045 | 12,012,024 | 29,709,995 | 9,272,495 | (961,805) | 22,456,515 | 163,567,784 |
| Fidelity Series Inflation-Protected Bond Index Fund | 1,621,478,041 | 481,458,614 | 326,355,797 | 23,879,030 | 1,964,635 | 103,937,057 | 1,882,482,550 |
| Fidelity Series International Credit Fund | 18,914,504 | 1,454,255 | -- | 1,454,256 | -- | 805,784 | 21,174,543 |
| Fidelity Series International Growth Fund | 1,133,838,427 | 187,673,233 | 562,818,706 | 145,745,439 | 168,951,165 | 72,688,121 | 1,000,332,240 |
| Fidelity Series International Small Cap Fund | 263,405,367 | 7,357,253 | 83,288,461 | 2,682,885 | 21,350,917 | 108,182,603 | 317,007,679 |
| Fidelity Series International Value Fund | 968,459,791 | 94,307,966 | 488,164,967 | 28,820,250 | (12,429,503) | 437,050,512 | 999,223,799 |
| Fidelity Series Intrinsic Opportunities Fund | 946,427,431 | 51,182,665 | 479,252,385 | 47,887,890 | 112,284,880 | 456,654,509 | 1,087,297,100 |
| Fidelity Series Investment Grade Bond Fund | 5,933,297,925 | 2,214,800,291 | 1,249,352,736 | 395,829,499 | (5,288,828) | (28,231,571) | 6,865,225,081 |
| Fidelity Series Large Cap Stock Fund | 799,693,788 | 94,573,262 | 347,052,367 | 54,805,199 | 63,235,612 | 340,093,380 | 950,543,675 |
| Fidelity Series Large Cap Value Index Fund | 219,571,867 | 98,600,415 | 93,323,855 | 7,475,068 | 6,849,609 | 118,697,716 | 350,395,752 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 584,777,693 | 466,839,560 | 165,756,641 | 66,681,489 | 12,073,943 | (187,388,386) | 710,546,169 |
| Fidelity Series Opportunistic Insights Fund | 451,089,896 | 96,801,051 | 143,223,397 | 83,421,028 | 60,673,991 | 89,600,627 | 554,942,168 |
| Fidelity Series Overseas Fund | 938,368,150 | 72,493,738 | 390,722,108 | 11,617,303 | (4,032,877) | 385,896,049 | 1,002,002,952 |
| Fidelity Series Real Estate Income Fund | 92,134,606 | 8,209,245 | 27,616,793 | 6,490,587 | (78,913) | 27,329,218 | 99,977,363 |
| Fidelity Series Short-Term Credit Fund | 419,604,884 | 24,182,983 | 50,221,680 | 9,921,889 | 744,965 | 11,650,587 | 405,961,739 |
| Fidelity Series Small Cap Discovery Fund | 89,019,997 | 3,589,128 | 47,095,173 | 3,231,068 | 6,925,441 | 66,514,282 | 118,953,675 |
| Fidelity Series Small Cap Opportunities Fund | 311,295,228 | 16,735,955 | 141,536,458 | 8,559,194 | 32,396,269 | 178,960,715 | 397,851,709 |
| Fidelity Series Stock Selector Large Cap Value Fund | 585,596,818 | 143,146,267 | 267,133,865 | 18,188,151 | 35,212,285 | 306,667,873 | 803,489,378 |
| Fidelity Series Value Discovery Fund | 436,835,697 | 108,968,985 | 188,924,938 | 13,622,765 | 28,173,525 | 232,861,946 | 617,915,215 |
| | $22,470,773,722 | $6,361,574,469 | $8,195,670,399 | $1,488,148,147 | $928,111,912 | $4,686,697,521 | $26,251,487,225 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments | $12,529,982 | $-- | $12,529,982 | $-- |
| Domestic Equity Funds | 7,379,631,866 | 7,379,631,866 | -- | -- |
| International Equity Funds | 6,567,550,180 | 6,567,550,180 | -- | -- |
| Bond Funds | 9,953,642,085 | 9,953,642,085 | -- | -- |
| Short-Term Funds | 2,378,749,079 | 2,378,749,079 | -- | -- |
| Total Investments in Securities: | $26,292,103,192 | $26,279,573,210 | $12,529,982 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2020 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $12,529,821) | $12,529,982 | |
| Fidelity Central Funds (cost $28,085,124) | 28,085,985 | |
| Other affiliated issuers (cost $21,194,282,032) | 26,251,487,225 | |
| Total Investment in Securities (cost $21,234,896,977) | | $26,292,103,192 |
| Receivable for investments sold | | 254,388,839 |
| Receivable for fund shares sold | | 101,914,067 |
| Distributions receivable from Fidelity Central Funds | | 1,398 |
| Receivable for daily variation margin on futures contracts | | 529,822 |
| Other receivables | | 297,068 |
| Total assets | | 26,649,234,386 |
| Liabilities | | |
| Payable for investments purchased | $224,306,624 | |
| Payable for fund shares redeemed | 120,523,120 | |
| Accrued management fee | 12,015,161 | |
| Other payables and accrued expenses | 297,060 | |
| Total liabilities | | 357,141,965 |
| Net Assets | | $26,292,092,421 |
| Net Assets consist of: | | |
| Paid in capital | | $20,101,311,453 |
| Total accumulated earnings (loss) | | 6,190,780,968 |
| Net Assets | | $26,292,092,421 |
| Net Asset Value and Maximum Offering Price | | |
| Fidelity Freedom 2020 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($13,282,370,064 ÷ 757,632,809 shares) | | $17.53 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($10,341,454,981 ÷ 590,322,988 shares) | | $17.52 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($2,668,267,376 ÷ 152,746,017 shares) | | $17.47 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $418,722,510 |
| Interest | | 32,748 |
| Income from Fidelity Central Funds | | 43,368 |
| Total income | | 418,798,626 |
| Expenses | | |
| Management fee | $137,093,653 | |
| Independent trustees' fees and expenses | 73,135 | |
| Total expenses before reductions | 137,166,788 | |
| Expense reductions | (131) | |
| Total expenses after reductions | | 137,166,657 |
| Net investment income (loss) | | 281,631,969 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (5,404) | |
| Other affiliated issuers | 928,112,274 | |
| Futures contracts | (14,233,829) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 1,069,425,637 | |
| Total net realized gain (loss) | | 1,983,298,678 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (13,501) | |
| Fidelity Central Funds | (1,220) | |
| Other affiliated issuers | 4,686,697,521 | |
| Total change in net unrealized appreciation (depreciation) | | 4,686,682,800 |
| Net gain (loss) | | 6,669,981,478 |
| Net increase (decrease) in net assets resulting from operations | | $6,951,613,447 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $281,631,969 | $485,104,275 |
| Net realized gain (loss) | 1,983,298,678 | 1,259,186,387 |
| Change in net unrealized appreciation (depreciation) | 4,686,682,800 | (2,580,993,899) |
| Net increase (decrease) in net assets resulting from operations | 6,951,613,447 | (836,703,237) |
| Distributions to shareholders | (1,787,675,107) | (1,779,102,780) |
| Share transactions - net increase (decrease) | (1,420,683,946) | (2,571,249,276) |
| Total increase (decrease) in net assets | 3,743,254,394 | (5,187,055,293) |
| Net Assets | | |
| Beginning of period | 22,548,838,027 | 27,735,893,320 |
| End of period | $26,292,092,421 | $22,548,838,027 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom 2020 Fund
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $14.21 | $15.83 | $16.51 | $15.70 | $14.63 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .18 | .28 | .28 | .22 | .25 |
| Net realized and unrealized gain (loss) | 4.32 | (.84) | .10 | 1.34 | 1.40 |
| Total from investment operations | 4.50 | (.56) | .38 | 1.56 | 1.65 |
| Distributions from net investment income | (.20) | (.30) | (.28) | (.22) | (.26) |
| Distributions from net realized gain | (.98) | (.76) | (.78) | (.52) | (.32) |
| Total distributions | (1.18) | (1.06) | (1.06) | (.75)B | (.58) |
| Net asset value, end of period | $17.53 | $14.21 | $15.83 | $16.51 | $15.70 |
| Total ReturnC | 32.56% | (4.15)% | 2.66% | 10.01% | 11.57% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .59% | .60% | .61% | .52% | - %F |
| Expenses net of fee waivers, if any | .59% | .60% | .61% | .52% | -% |
| Expenses net of all reductions | .59% | .60% | .61% | .52% | -% |
| Net investment income (loss) | 1.07% | 1.76% | 1.76% | 1.34% | 1.69% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $13,282,370 | $10,620,621 | $12,395,049 | $12,916,078 | $12,279,240 |
| Portfolio turnover rateG | 26% | 23% | 19% | 21%H | 19% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount represents less than .005%.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
H The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2020 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $14.20 | $15.81 | $16.49 | $16.24 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .19 | .29 | .29 | .27 |
| Net realized and unrealized gain (loss) | 4.32 | (.83) | .10 | .50 |
| Total from investment operations | 4.51 | (.54) | .39 | .77 |
| Distributions from net investment income | (.21) | (.31) | (.29) | (.21) |
| Distributions from net realized gain | (.98) | (.76) | (.78) | (.31) |
| Total distributions | (1.19) | (1.07) | (1.07) | (.52) |
| Net asset value, end of period | $17.52 | $14.20 | $15.81 | $16.49 |
| Total ReturnC,D | 32.66% | (4.04)% | 2.73% | 4.73% |
| Ratios to Average Net AssetsE,F | | | | |
| Expenses before reductions | .52% | .52% | .53% | .54%G |
| Expenses net of fee waivers, if any | .52% | .52% | .53% | .54%G |
| Expenses net of all reductions | .52% | .52% | .53% | .54%G |
| Net investment income (loss) | 1.15% | 1.84% | 1.84% | 2.34%G |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $10,341,455 | $9,840,293 | $13,509,101 | $16,611,072 |
| Portfolio turnover rateH | 26% | 23% | 19% | 21%I |
A For the period July 20, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
I The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2020 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $14.16 | $15.78 | $16.50 | $16.00 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .20 | .31 | .30 | .24 |
| Net realized and unrealized gain (loss) | 4.32 | (.83) | .10 | .79 |
| Total from investment operations | 4.52 | (.52) | .40 | 1.03 |
| Distributions from net investment income | (.23) | (.34) | (.34) | (.22) |
| Distributions from net realized gain | (.98) | (.76) | (.78) | (.31) |
| Total distributions | (1.21) | (1.10) | (1.12) | (.53) |
| Net asset value, end of period | $17.47 | $14.16 | $15.78 | $16.50 |
| Total ReturnC,D | 32.85% | (3.96)% | 2.80% | 6.40% |
| Ratios to Average Net AssetsE,F | | | | |
| Expenses before reductions | .42% | .43% | .43% | .44%G |
| Expenses net of fee waivers, if any | .42% | .43% | .43% | .44%G |
| Expenses net of all reductions | .42% | .43% | .43% | .44%G |
| Net investment income (loss) | 1.24% | 1.93% | 1.94% | 1.79%G |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $2,668,267 | $2,087,924 | $1,831,743 | $474,981 |
| Portfolio turnover rateH | 26% | 23% | 19% | 21%I |
A For the period June 7, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
I The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2025 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 23.6 |
| Fidelity Series Emerging Markets Opportunities Fund | 10.6 |
| Fidelity Series Inflation-Protected Bond Index Fund | 6.3 |
| Fidelity Series Government Money Market Fund 0.08% | 4.8 |
| Fidelity Series Intrinsic Opportunities Fund | 4.8 |
| Fidelity Series Growth Company Fund | 4.8 |
| Fidelity Series Overseas Fund | 4.3 |
| Fidelity Series International Growth Fund | 4.3 |
| Fidelity Series International Value Fund | 4.3 |
| Fidelity Series Large Cap Stock Fund | 4.2 |
| | 72.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 32.0% |
| | International Equity Funds | 27.6% |
| | Bond Funds | 34.5% |
| | Short-Term Funds | 5.9% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® 2025 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.08% to 0.08% 4/1/21 to 4/22/21 | | | |
| (Cost $14,849,738) | | 14,850,000 | 14,849,970 |
| | | Shares | Value |
|
| Domestic Equity Funds - 32.0% | | | |
| Fidelity Series All-Sector Equity Fund (a) | | 31,883,732 | $373,996,174 |
| Fidelity Series Blue Chip Growth Fund (a) | | 34,082,363 | 593,373,948 |
| Fidelity Series Commodity Strategy Fund (a) | | 178,851,232 | 876,371,037 |
| Fidelity Series Growth Company Fund (a) | | 64,691,722 | 1,514,433,220 |
| Fidelity Series Intrinsic Opportunities Fund (a) | | 70,431,841 | 1,519,919,126 |
| Fidelity Series Large Cap Stock Fund (a) | | 72,018,469 | 1,328,740,760 |
| Fidelity Series Large Cap Value Index Fund (a) | | 33,343,138 | 489,810,691 |
| Fidelity Series Opportunistic Insights Fund (a) | | 38,156,304 | 775,717,652 |
| Fidelity Series Small Cap Discovery Fund (a) | | 11,499,293 | 166,279,781 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 31,388,030 | 556,195,886 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 78,709,661 | 1,123,186,860 |
| Fidelity Series Value Discovery Fund (a) | | 54,257,262 | 863,775,612 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $6,689,463,058) | | | 10,181,800,747 |
|
| International Equity Funds - 27.6% | | | |
| Fidelity Series Canada Fund (a) | | 38,146,002 | 487,124,446 |
| Fidelity Series Emerging Markets Fund (a) | | 31,910,774 | 373,036,953 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 131,961,584 | 3,386,134,233 |
| Fidelity Series International Growth Fund (a) | | 76,186,913 | 1,366,793,221 |
| Fidelity Series International Small Cap Fund (a) | | 20,919,708 | 433,456,349 |
| Fidelity Series International Value Fund (a) | | 125,920,907 | 1,366,241,845 |
| Fidelity Series Overseas Fund (a) | | 108,570,281 | 1,369,071,240 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $6,105,539,410) | | | 8,781,858,287 |
|
| Bond Funds - 34.5% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 18,684,141 | 169,652,000 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 5,454,550 | 54,654,587 |
| Fidelity Series Floating Rate High Income Fund (a) | | 3,644,368 | 33,491,745 |
| Fidelity Series High Income Fund (a) | | 21,075,975 | 197,692,649 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 188,010,177 | 2,019,229,305 |
| Fidelity Series International Credit Fund (a) | | 1,823,571 | 18,199,239 |
| Fidelity Series Investment Grade Bond Fund (a) | | 650,942,027 | 7,505,361,568 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 109,308,815 | 863,539,638 |
| Fidelity Series Real Estate Income Fund (a) | | 10,962,555 | 121,136,230 |
| TOTAL BOND FUNDS | | | |
| (Cost $10,886,023,993) | | | 10,982,956,961 |
|
| Short-Term Funds - 5.9% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 28,906,546 | 28,912,328 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 1,545,838,489 | 1,545,838,489 |
| Fidelity Series Short-Term Credit Fund (a) | | 31,687,418 | 322,261,040 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $1,891,901,991) | | | 1,897,011,857 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $25,587,778,190) | | | 31,858,477,822 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (41,780) |
| NET ASSETS - 100% | | | $31,858,436,042 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $45,369 |
| Total | $45,369 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series All-Sector Equity Fund | $278,497,907 | $48,626,554 | $85,697,964 | $42,125,185 | $(2,268,911) | $134,838,588 | $373,996,174 |
| Fidelity Series Blue Chip Growth Fund | 503,166,574 | 208,511,067 | 333,498,094 | 187,274,416 | 123,617,205 | 91,577,196 | 593,373,948 |
| Fidelity Series Canada Fund | 305,536,416 | 86,158,868 | 81,372,320 | 9,430,331 | (857,751) | 177,659,233 | 487,124,446 |
| Fidelity Series Commodity Strategy Fund | 813,387,775 | 170,078,202 | 318,097,107 | 3,325,623 | (96,215,820) | 307,217,987 | 876,371,037 |
| Fidelity Series Emerging Markets Debt Fund | 152,149,526 | 18,523,539 | 20,204,723 | 8,299,635 | (463,356) | 19,647,014 | 169,652,000 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 57,338,383 | 2,236,960 | 812,878 | (436) | (446,400) | 54,654,587 |
| Fidelity Series Emerging Markets Fund | 197,869,090 | 83,311,647 | 61,882,707 | 5,076,981 | 3,961,219 | 149,777,704 | 373,036,953 |
| Fidelity Series Emerging Markets Opportunities Fund | 1,907,368,420 | 704,485,977 | 603,503,127 | 98,134,929 | 54,109,638 | 1,323,673,325 | 3,386,134,233 |
| Fidelity Series Floating Rate High Income Fund | 29,249,471 | 3,411,044 | 3,276,855 | 1,389,152 | (212,041) | 4,320,126 | 33,491,745 |
| Fidelity Series Government Money Market Fund 0.08% | 1,608,157,933 | 810,321,282 | 872,640,726 | 2,534,009 | -- | -- | 1,545,838,489 |
| Fidelity Series Growth Company Fund | 1,045,601,982 | 431,942,667 | 510,199,071 | 361,238,863 | 250,572,883 | 296,514,759 | 1,514,433,220 |
| Fidelity Series High Income Fund | 174,793,716 | 17,754,358 | 18,777,059 | 10,586,228 | (423,983) | 24,345,617 | 197,692,649 |
| Fidelity Series Inflation-Protected Bond Index Fund | 1,564,983,539 | 573,555,502 | 223,400,476 | 24,651,007 | 962,360 | 103,128,380 | 2,019,229,305 |
| Fidelity Series International Credit Fund | 16,256,765 | 1,249,913 | -- | 1,249,913 | -- | 692,561 | 18,199,239 |
| Fidelity Series International Growth Fund | 1,366,267,212 | 277,374,283 | 571,105,690 | 190,839,206 | 137,539,656 | 156,717,760 | 1,366,793,221 |
| Fidelity Series International Small Cap Fund | 317,352,794 | 17,085,937 | 64,536,181 | 3,510,348 | 7,788,718 | 155,765,081 | 433,456,349 |
| Fidelity Series International Value Fund | 1,172,297,947 | 144,888,790 | 492,479,497 | 37,707,511 | (32,524,599) | 574,059,204 | 1,366,241,845 |
| Fidelity Series Intrinsic Opportunities Fund | 1,186,447,102 | 90,170,034 | 503,992,814 | 63,421,541 | 36,813,440 | 710,481,364 | 1,519,919,126 |
| Fidelity Series Investment Grade Bond Fund | 5,763,712,548 | 2,662,157,763 | 860,953,762 | 404,708,250 | (6,753,141) | (52,801,840) | 7,505,361,568 |
| Fidelity Series Large Cap Stock Fund | 1,006,415,403 | 145,272,150 | 352,643,920 | 71,531,104 | 55,211,758 | 474,485,369 | 1,328,740,760 |
| Fidelity Series Large Cap Value Index Fund | 276,213,383 | 132,677,953 | 85,645,713 | 10,032,417 | 7,483,178 | 159,081,890 | 489,810,691 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 624,897,761 | 580,366,283 | 136,527,831 | 76,502,174 | 11,848,747 | (217,045,322) | 863,539,638 |
| Fidelity Series Opportunistic Insights Fund | 566,775,854 | 154,122,581 | 134,443,762 | 111,408,754 | 57,564,677 | 131,698,302 | 775,717,652 |
| Fidelity Series Overseas Fund | 1,139,056,795 | 105,274,860 | 353,254,969 | 15,203,993 | (10,722,423) | 488,716,977 | 1,369,071,240 |
| Fidelity Series Real Estate Income Fund | 98,916,856 | 11,645,327 | 19,776,951 | 7,265,944 | (925,050) | 31,276,048 | 121,136,230 |
| Fidelity Series Short-Term Credit Fund | 282,038,735 | 34,122,291 | 2,067,708 | 6,781,349 | (13,534) | 8,181,256 | 322,261,040 |
| Fidelity Series Small Cap Discovery Fund | 112,176,883 | 7,309,715 | 49,509,067 | 4,321,087 | 7,427,617 | 88,874,633 | 166,279,781 |
| Fidelity Series Small Cap Opportunities Fund | 391,999,124 | 31,485,202 | 143,614,926 | 11,361,623 | 20,301,815 | 256,024,671 | 556,195,886 |
| Fidelity Series Stock Selector Large Cap Value Fund | 737,278,105 | 195,960,430 | 261,092,780 | 24,397,643 | 19,211,358 | 431,829,747 | 1,123,186,860 |
| Fidelity Series Value Discovery Fund | 549,452,739 | 152,092,565 | 181,224,769 | 18,275,828 | 20,072,309 | 323,382,768 | 863,775,612 |
| | $24,188,318,355 | $7,957,275,167 | $7,347,657,529 | $1,813,397,922 | $663,105,533 | $6,353,673,998 | $31,814,715,524 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments | $14,849,970 | $-- | $14,849,970 | $-- |
| Domestic Equity Funds | 10,181,800,747 | 10,181,800,747 | -- | -- |
| International Equity Funds | 8,781,858,287 | 8,781,858,287 | -- | -- |
| Bond Funds | 10,982,956,961 | 10,982,956,961 | -- | -- |
| Short-Term Funds | 1,897,011,857 | 1,897,011,857 | -- | -- |
| Total Investments in Securities: | $31,858,477,822 | $31,843,627,852 | $14,849,970 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2025 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $14,849,738) | $14,849,970 | |
| Fidelity Central Funds (cost $28,911,232) | 28,912,328 | |
| Other affiliated issuers (cost $25,544,017,220) | 31,814,715,524 | |
| Total Investment in Securities (cost $25,587,778,190) | | $31,858,477,822 |
| Receivable for investments sold | | 331,634,795 |
| Receivable for fund shares sold | | 161,488,570 |
| Distributions receivable from Fidelity Central Funds | | 1,432 |
| Receivable for daily variation margin on futures contracts | | 634,317 |
| Other receivables | | 293,214 |
| Total assets | | 32,352,530,150 |
| Liabilities | | |
| Payable for investments purchased | $316,620,960 | |
| Payable for fund shares redeemed | 161,993,791 | |
| Accrued management fee | 15,186,136 | |
| Other payables and accrued expenses | 293,221 | |
| Total liabilities | | 494,094,108 |
| Net Assets | | $31,858,436,042 |
| Net Assets consist of: | | |
| Paid in capital | | $24,461,600,288 |
| Total accumulated earnings (loss) | | 7,396,835,754 |
| Net Assets | | $31,858,436,042 |
| Net Asset Value and Maximum Offering Price | | |
| Fidelity Freedom 2025 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($13,719,790,910 ÷ 864,811,762 shares) | | $15.86 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($13,839,950,826 ÷ 873,672,499 shares) | | $15.84 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($4,298,694,306 ÷ 271,866,603 shares) | | $15.81 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $488,441,325 |
| Interest | | 40,643 |
| Income from Fidelity Central Funds | | 45,369 |
| Total income | | 488,527,337 |
| Expenses | | |
| Management fee | $164,410,837 | |
| Independent trustees' fees and expenses | 82,183 | |
| Total expenses before reductions | 164,493,020 | |
| Expense reductions | (21) | |
| Total expenses after reductions | | 164,492,999 |
| Net investment income (loss) | | 324,034,338 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (5,581) | |
| Other affiliated issuers | 663,106,603 | |
| Futures contracts | (16,220,437) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 1,324,956,597 | |
| Total net realized gain (loss) | | 1,971,837,182 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (17,000) | |
| Fidelity Central Funds | (1,501) | |
| Other affiliated issuers | 6,353,673,998 | |
| Total change in net unrealized appreciation (depreciation) | | 6,353,655,497 |
| Net gain (loss) | | 8,325,492,679 |
| Net increase (decrease) in net assets resulting from operations | | $8,649,527,017 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $324,034,338 | $490,730,931 |
| Net realized gain (loss) | 1,971,837,182 | 1,078,998,161 |
| Change in net unrealized appreciation (depreciation) | 6,353,655,497 | (2,874,172,467) |
| Net increase (decrease) in net assets resulting from operations | 8,649,527,017 | (1,304,443,375) |
| Distributions to shareholders | (1,735,084,866) | (1,719,438,532) |
| Share transactions - net increase (decrease) | 670,689,979 | 156,027,250 |
| Total increase (decrease) in net assets | 7,585,132,130 | (2,867,854,657) |
| Net Assets | | |
| Beginning of period | 24,273,303,912 | 27,141,158,569 |
| End of period | $31,858,436,042 | $24,273,303,912 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom 2025 Fund
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.34 | $13.84 | $14.35 | $13.50 | $12.49 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .16 | .24 | .24 | .18 | .21 |
| Net realized and unrealized gain (loss) | 4.25 | (.87) | .08 | 1.26 | 1.30 |
| Total from investment operations | 4.41 | (.63) | .32 | 1.44 | 1.51 |
| Distributions from net investment income | (.17) | (.25) | (.23) | (.18) | (.21) |
| Distributions from net realized gain | (.72) | (.63) | (.59) | (.41) | (.29) |
| Total distributions | (.89) | (.87)B | (.83)B | (.59) | (.50) |
| Net asset value, end of period | $15.86 | $12.34 | $13.84 | $14.35 | $13.50 |
| Total ReturnC | 36.58% | (5.17)% | 2.53% | 10.81% | 12.46% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .64% | .64% | .65% | .56%F | - %G |
| Expenses net of fee waivers, if any | .64% | .64% | .65% | .56%F | -% |
| Expenses net of all reductions | .64% | .64% | .65% | .56%F | -% |
| Net investment income (loss) | 1.07% | 1.72% | 1.70% | 1.28% | 1.66% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $13,719,791 | $9,905,175 | $10,953,002 | $10,923,217 | $9,764,547 |
| Portfolio turnover rateH | 26% | 29% | 19% | 18%I | 19% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
G Amount represents less than .005%.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
I The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2025 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $12.32 | $13.82 | $14.33 | $14.02 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .17 | .25 | .25 | .23 |
| Net realized and unrealized gain (loss) | 4.25 | (.87) | .08 | .50 |
| Total from investment operations | 4.42 | (.62) | .33 | .73 |
| Distributions from net investment income | (.18) | (.26) | (.24) | (.18) |
| Distributions from net realized gain | (.72) | (.63) | (.59) | (.24) |
| Total distributions | (.90) | (.88)C | (.84)C | (.42) |
| Net asset value, end of period | $15.84 | $12.32 | $13.82 | $14.33 |
| Total ReturnD,E | 36.74% | (5.11)% | 2.61% | 5.18% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .55% | .56% | .57% | .58%H,I |
| Expenses net of fee waivers, if any | .55% | .56% | .57% | .58%H,I |
| Expenses net of all reductions | .55% | .56% | .57% | .58%H,I |
| Net investment income (loss) | 1.15% | 1.81% | 1.79% | 2.28%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $13,839,951 | $11,470,984 | $13,768,298 | $15,743,238 |
| Portfolio turnover rateJ | 26% | 29% | 19% | 18%K |
A For the period July 20, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
K The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2025 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $12.30 | $13.81 | $14.35 | $13.80 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .18 | .27 | .26 | .21 |
| Net realized and unrealized gain (loss) | 4.25 | (.87) | .08 | .76 |
| Total from investment operations | 4.43 | (.60) | .34 | .97 |
| Distributions from net investment income | (.20) | (.28) | (.29) | (.19) |
| Distributions from net realized gain | (.72) | (.63) | (.59) | (.24) |
| Total distributions | (.92) | (.91) | (.88) | (.42)C |
| Net asset value, end of period | $15.81 | $12.30 | $13.81 | $14.35 |
| Total ReturnD,E | 36.91% | (5.02)% | 2.73% | 7.02% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .44% | .45% | .45% | .46%H,I |
| Expenses net of fee waivers, if any | .44% | .45% | .45% | .46%H,I |
| Expenses net of all reductions | .44% | .45% | .45% | .46%H,I |
| Net investment income (loss) | 1.26% | 1.92% | 1.90% | 1.78%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $4,298,694 | $2,897,146 | $2,419,859 | $625,475 |
| Portfolio turnover rateJ | 26% | 29% | 19% | 18%K |
A For the period June 7, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
K The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2030 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 20.6 |
| Fidelity Series Emerging Markets Opportunities Fund | 11.5 |
| Fidelity Series Inflation-Protected Bond Index Fund | 5.6 |
| Fidelity Series Intrinsic Opportunities Fund | 5.5 |
| Fidelity Series Growth Company Fund | 5.5 |
| Fidelity Series Overseas Fund | 4.9 |
| Fidelity Series International Growth Fund | 4.9 |
| Fidelity Series International Value Fund | 4.8 |
| Fidelity Series Large Cap Stock Fund | 4.8 |
| Fidelity Series Stock Selector Large Cap Value Fund | 4.1 |
| | 72.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 36.4% |
| | International Equity Funds | 30.6% |
| | Bond Funds | 30.8% |
| | Short-Term Funds | 2.2% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® 2030 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.06% to 0.08% 4/1/21 to 4/22/21 | | | |
| (Cost $19,069,737) | | 19,070,000 | 19,069,972 |
| | | Shares | Value |
|
| Domestic Equity Funds - 36.4% | | | |
| Fidelity Series All-Sector Equity Fund (a) | | 44,982,044 | $527,639,381 |
| Fidelity Series Blue Chip Growth Fund (a) | | 48,083,569 | 837,134,932 |
| Fidelity Series Commodity Strategy Fund (a) | | 218,994,918 | 1,073,075,098 |
| Fidelity Series Growth Company Fund (a) | | 91,259,242 | 2,136,378,862 |
| Fidelity Series Intrinsic Opportunities Fund (a) | | 99,364,850 | 2,144,293,474 |
| Fidelity Series Large Cap Stock Fund (a) | | 101,603,755 | 1,874,589,275 |
| Fidelity Series Large Cap Value Index Fund (a) | | 47,040,395 | 691,023,398 |
| Fidelity Series Opportunistic Insights Fund (a) | | 53,831,598 | 1,094,396,388 |
| Fidelity Series Small Cap Discovery Fund (a) | | 16,223,279 | 234,588,618 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 44,285,215 | 784,734,018 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 111,043,085 | 1,584,584,818 |
| Fidelity Series Value Discovery Fund (a) | | 76,545,943 | 1,218,611,413 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $9,296,609,249) | | | 14,201,049,675 |
|
| International Equity Funds - 30.6% | | | |
| Fidelity Series Canada Fund (a) | | 52,871,647 | 675,170,929 |
| Fidelity Series Emerging Markets Fund (a) | | 42,126,195 | 492,455,215 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 173,904,899 | 4,462,399,709 |
| Fidelity Series International Growth Fund (a) | | 105,462,956 | 1,892,005,436 |
| Fidelity Series International Small Cap Fund (a) | | 28,938,124 | 599,597,928 |
| Fidelity Series International Value Fund (a) | | 174,184,712 | 1,889,904,130 |
| Fidelity Series Overseas Fund (a) | | 150,290,083 | 1,895,157,947 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $8,371,374,754) | | | 11,906,691,294 |
|
| Bond Funds - 30.8% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 22,984,417 | 208,698,503 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 6,666,480 | 66,798,128 |
| Fidelity Series Floating Rate High Income Fund (a) | | 4,447,474 | 40,872,287 |
| Fidelity Series High Income Fund (a) | | 25,706,207 | 241,124,219 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 202,512,177 | 2,174,980,779 |
| Fidelity Series International Credit Fund (a) | | 1,785,510 | 17,819,388 |
| Fidelity Series Investment Grade Bond Fund (a) | | 696,614,603 | 8,031,966,369 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 133,845,893 | 1,057,382,556 |
| Fidelity Series Real Estate Income Fund (a) | | 13,408,754 | 148,166,727 |
| TOTAL BOND FUNDS | | | |
| (Cost $11,933,291,388) | | | 11,987,808,956 |
|
| Short-Term Funds - 2.2% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 32,257,180 | 32,263,632 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 683,176,701 | 683,176,701 |
| Fidelity Series Short-Term Credit Fund (a) | | 13,800,530 | 140,351,391 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $854,502,440) | | | 855,791,724 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $30,474,847,568) | | | 38,970,411,621 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (109,300) |
| NET ASSETS - 100% | | | $38,970,302,321 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $65,757 |
| Total | $65,757 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series All-Sector Equity Fund | $393,967,790 | $69,047,494 | $121,950,540 | $59,550,861 | $(4,852,019) | $191,426,656 | $527,639,381 |
| Fidelity Series Blue Chip Growth Fund | 716,855,106 | 295,910,279 | 476,075,669 | 264,904,114 | 172,223,757 | 128,221,459 | 837,134,932 |
| Fidelity Series Canada Fund | 411,006,158 | 123,943,362 | 102,770,611 | 13,056,501 | (1,398,092) | 244,390,112 | 675,170,929 |
| Fidelity Series Commodity Strategy Fund | 967,436,715 | 216,128,266 | 363,775,526 | 3,995,094 | (120,832,645) | 374,118,288 | 1,073,075,098 |
| Fidelity Series Emerging Markets Debt Fund | 178,867,660 | 28,309,807 | 20,963,067 | 9,879,547 | (159,934) | 22,644,037 | 208,698,503 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 68,836,269 | 1,532,523 | 985,992 | (19,952) | (485,666) | 66,798,128 |
| Fidelity Series Emerging Markets Fund | 262,115,431 | 104,031,706 | 73,549,534 | 6,672,252 | 5,154,452 | 194,703,160 | 492,455,215 |
| Fidelity Series Emerging Markets Opportunities Fund | 2,490,261,251 | 874,593,261 | 699,070,192 | 128,940,978 | 57,199,538 | 1,739,415,851 | 4,462,399,709 |
| Fidelity Series Floating Rate High Income Fund | 34,443,433 | 5,276,191 | 3,690,921 | 1,648,856 | (219,857) | 5,063,441 | 40,872,287 |
| Fidelity Series Government Money Market Fund 0.08% | 880,988,473 | 838,969,160 | 1,036,780,932 | 1,028,425 | -- | -- | 683,176,701 |
| Fidelity Series Growth Company Fund | 1,488,543,420 | 612,376,789 | 723,864,819 | 510,339,890 | 344,620,081 | 414,703,391 | 2,136,378,862 |
| Fidelity Series High Income Fund | 209,352,196 | 21,813,601 | 18,715,390 | 12,739,944 | (75,701) | 28,749,513 | 241,124,219 |
| Fidelity Series Inflation-Protected Bond Index Fund | 1,497,526,674 | 763,754,921 | 191,905,832 | 26,268,200 | 713,497 | 104,891,519 | 2,174,980,779 |
| Fidelity Series International Credit Fund | 15,917,457 | 1,223,825 | -- | 1,223,826 | -- | 678,106 | 17,819,388 |
| Fidelity Series International Growth Fund | 1,838,239,891 | 369,292,284 | 714,377,646 | 264,068,459 | 173,005,401 | 225,845,506 | 1,892,005,436 |
| Fidelity Series International Small Cap Fund | 427,359,835 | 21,143,878 | 72,814,775 | 4,859,597 | 7,770,557 | 216,138,433 | 599,597,928 |
| Fidelity Series International Value Fund | 1,593,300,623 | 170,891,617 | 618,587,712 | 52,175,164 | (48,227,714) | 792,527,316 | 1,889,904,130 |
| Fidelity Series Intrinsic Opportunities Fund | 1,664,194,036 | 128,322,159 | 700,508,058 | 89,683,534 | 46,647,994 | 1,005,637,343 | 2,144,293,474 |
| Fidelity Series Investment Grade Bond Fund | 5,712,460,309 | 3,228,245,979 | 830,478,560 | 417,166,443 | (5,236,891) | (73,024,468) | 8,031,966,369 |
| Fidelity Series Large Cap Stock Fund | 1,439,947,985 | 159,099,959 | 467,601,383 | 100,406,276 | 72,590,865 | 670,551,849 | 1,874,589,275 |
| Fidelity Series Large Cap Value Index Fund | 395,293,959 | 170,762,154 | 112,823,790 | 14,185,887 | 9,794,074 | 227,997,001 | 691,023,398 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 717,667,010 | 699,383,808 | 110,165,380 | 92,381,556 | 9,661,105 | (259,163,987) | 1,057,382,556 |
| Fidelity Series Opportunistic Insights Fund | 810,250,181 | 220,748,949 | 208,263,062 | 156,375,607 | 89,686,668 | 181,973,652 | 1,094,396,388 |
| Fidelity Series Overseas Fund | 1,540,968,330 | 108,580,234 | 406,974,417 | 21,047,170 | (9,746,513) | 662,330,313 | 1,895,157,947 |
| Fidelity Series Real Estate Income Fund | 115,537,176 | 14,727,774 | 17,891,108 | 8,499,867 | (924,709) | 36,717,594 | 148,166,727 |
| Fidelity Series Short-Term Credit Fund | 53,273,544 | 99,670,562 | 13,791,253 | 1,421,985 | (55,836) | 1,254,374 | 140,351,391 |
| Fidelity Series Small Cap Discovery Fund | 160,684,589 | 10,399,128 | 73,181,998 | 6,131,848 | 10,475,413 | 126,211,486 | 234,588,618 |
| Fidelity Series Small Cap Opportunities Fund | 561,149,981 | 38,416,248 | 205,363,347 | 16,113,210 | 25,900,549 | 364,630,587 | 784,734,018 |
| Fidelity Series Stock Selector Large Cap Value Fund | 1,055,251,278 | 242,283,874 | 350,974,039 | 34,478,840 | 23,680,152 | 614,343,553 | 1,584,584,818 |
| Fidelity Series Value Discovery Fund | 786,111,272 | 191,038,302 | 244,153,676 | 25,830,549 | 28,868,304 | 456,747,211 | 1,218,611,413 |
| | $28,418,971,763 | $9,897,221,840 | $8,982,595,760 | $2,346,060,472 | $886,242,544 | $8,699,237,630 | $38,919,078,017 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments | $19,069,972 | $-- | $19,069,972 | $-- |
| Domestic Equity Funds | 14,201,049,675 | 14,201,049,675 | -- | -- |
| International Equity Funds | 11,906,691,294 | 11,906,691,294 | -- | -- |
| Bond Funds | 11,987,808,956 | 11,987,808,956 | -- | -- |
| Short-Term Funds | 855,791,724 | 855,791,724 | -- | -- |
| Total Investments in Securities: | $38,970,411,621 | $38,951,341,649 | $19,069,972 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2030 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $19,069,737) | $19,069,972 | |
| Fidelity Central Funds (cost $32,262,526) | 32,263,632 | |
| Other affiliated issuers (cost $30,423,515,305) | 38,919,078,017 | |
| Total Investment in Securities (cost $30,474,847,568) | | $38,970,411,621 |
| Receivable for investments sold | | 485,693,068 |
| Receivable for fund shares sold | | 161,924,701 |
| Distributions receivable from Fidelity Central Funds | | 1,630 |
| Receivable for daily variation margin on futures contracts | | 755,663 |
| Other receivables | | 283,072 |
| Total assets | | 39,619,069,755 |
| Liabilities | | |
| Payable for investments purchased | $459,239,121 | |
| Payable for fund shares redeemed | 169,477,951 | |
| Accrued management fee | 19,767,286 | |
| Other payables and accrued expenses | 283,076 | |
| Total liabilities | | 648,767,434 |
| Net Assets | | $38,970,302,321 |
| Net Assets consist of: | | |
| Paid in capital | | $28,948,046,351 |
| Total accumulated earnings (loss) | | 10,022,255,970 |
| Net Assets | | $38,970,302,321 |
| Net Asset Value and Maximum Offering Price | | |
| Fidelity Freedom 2030 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($16,799,087,360 ÷ 843,312,259 shares) | | $19.92 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($17,173,512,894 ÷ 862,832,865 shares) | | $19.90 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($4,997,702,067 ÷ 251,650,192 shares) | | $19.86 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $602,427,279 |
| Interest | | 50,661 |
| Income from Fidelity Central Funds | | 65,757 |
| Total income | | 602,543,697 |
| Expenses | | |
| Management fee | $211,331,066 | |
| Independent trustees' fees and expenses | 98,648 | |
| Total expenses before reductions | 211,429,714 | |
| Expense reductions | (25) | |
| Total expenses after reductions | | 211,429,689 |
| Net investment income (loss) | | 391,114,008 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (7,612) | |
| Other affiliated issuers | 886,243,104 | |
| Futures contracts | (14,679,009) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 1,743,633,193 | |
| Total net realized gain (loss) | | 2,615,189,676 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (19,445) | |
| Fidelity Central Funds | (2,186) | |
| Other affiliated issuers | 8,699,237,630 | |
| Total change in net unrealized appreciation (depreciation) | | 8,699,215,999 |
| Net gain (loss) | | 11,314,405,675 |
| Net increase (decrease) in net assets resulting from operations | | $11,705,519,683 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $391,114,008 | $569,540,942 |
| Net realized gain (loss) | 2,615,189,676 | 1,520,300,325 |
| Change in net unrealized appreciation (depreciation) | 8,699,215,999 | (4,097,996,425) |
| Net increase (decrease) in net assets resulting from operations | 11,705,519,683 | (2,008,155,158) |
| Distributions to shareholders | (2,280,507,233) | (2,275,634,739) |
| Share transactions - net increase (decrease) | 1,011,204,435 | 747,107,607 |
| Total increase (decrease) in net assets | 10,436,216,885 | (3,536,682,290) |
| Net Assets | | |
| Beginning of period | 28,534,085,436 | 32,070,767,726 |
| End of period | $38,970,302,321 | $28,534,085,436 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom 2030 Fund
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $14.98 | $17.20 | $18.00 | $16.72 | $15.20 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .19 | .29 | .28 | .21 | .25 |
| Net realized and unrealized gain (loss) | 5.95 | (1.30) | .07 | 1.90 | 1.90 |
| Total from investment operations | 6.14 | (1.01) | .35 | 2.11 | 2.15 |
| Distributions from net investment income | (.21) | (.30) | (.28) | (.22) | (.25) |
| Distributions from net realized gain | (1.00) | (.92) | (.87) | (.61) | (.38) |
| Total distributions | (1.20) | (1.21)B | (1.15) | (.83) | (.63) |
| Net asset value, end of period | $19.92 | $14.98 | $17.20 | $18.00 | $16.72 |
| Total ReturnC | 42.14% | (6.69)% | 2.32% | 12.78% | 14.58% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .68% | .69% | .69%F | .59% | - %G |
| Expenses net of fee waivers, if any | .68% | .69% | .69%F | .59% | -% |
| Expenses net of all reductions | .68% | .69% | .69%F | .59% | -% |
| Net investment income (loss) | 1.06% | 1.68% | 1.61% | 1.20% | 1.57% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $16,799,087 | $11,724,021 | $12,905,055 | $12,684,794 | $11,305,668 |
| Portfolio turnover rateH | 26% | 31% | 18% | 18%I | 17% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
G Amount represents less than .005%.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
I The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2030 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $14.97 | $17.18 | $17.98 | $17.47 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .21 | .30 | .30 | .28 |
| Net realized and unrealized gain (loss) | 5.94 | (1.29) | .06 | .81 |
| Total from investment operations | 6.15 | (.99) | .36 | 1.09 |
| Distributions from net investment income | (.22) | (.31) | (.29) | (.24) |
| Distributions from net realized gain | (1.00) | (.92) | (.87) | (.35) |
| Total distributions | (1.22) | (1.22)C | (1.16) | (.58)C |
| Net asset value, end of period | $19.90 | $14.97 | $17.18 | $17.98 |
| Total ReturnD,E | 42.20% | (6.57)% | 2.40% | 6.24% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .59% | .59% | .60% | .62%H,I |
| Expenses net of fee waivers, if any | .59% | .59% | .60% | .62%H,I |
| Expenses net of all reductions | .59% | .59% | .60% | .62%H,I |
| Net investment income (loss) | 1.15% | 1.77% | 1.70% | 2.23%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $17,173,513 | $13,601,568 | $16,527,856 | $18,414,961 |
| Portfolio turnover rateJ | 26% | 31% | 18% | 18%K |
A For the period July 20, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
K The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2030 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $14.94 | $17.17 | $18.00 | $17.15 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .23 | .33 | .31 | .26 |
| Net realized and unrealized gain (loss) | 5.94 | (1.30) | .08 | 1.18 |
| Total from investment operations | 6.17 | (.97) | .39 | 1.44 |
| Distributions from net investment income | (.25) | (.34) | (.33) | (.24) |
| Distributions from net realized gain | (1.00) | (.92) | (.89) | (.35) |
| Total distributions | (1.25) | (1.26) | (1.22) | (.59) |
| Net asset value, end of period | $19.86 | $14.94 | $17.17 | $18.00 |
| Total ReturnC,D | 42.45% | (6.52)% | 2.57% | 8.35% |
| Ratios to Average Net AssetsE,F | | | | |
| Expenses before reductions | .46% | .47% | .47% | .48%G,H |
| Expenses net of fee waivers, if any | .46% | .47% | .47% | .48%G,H |
| Expenses net of all reductions | .46% | .47% | .47% | .48%G,H |
| Net investment income (loss) | 1.28% | 1.90% | 1.83% | 1.76%G |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $4,997,702 | $3,208,497 | $2,637,856 | $821,874 |
| Portfolio turnover rateI | 26% | 31% | 18% | 18%J |
A For the period June 7, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
J The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2035 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 13.2 |
| Fidelity Series Investment Grade Bond Fund | 10.2 |
| Fidelity Series Intrinsic Opportunities Fund | 7.0 |
| Fidelity Series Growth Company Fund | 7.0 |
| Fidelity Series Large Cap Stock Fund | 6.1 |
| Fidelity Series Overseas Fund | 6.0 |
| Fidelity Series International Growth Fund | 6.0 |
| Fidelity Series International Value Fund | 6.0 |
| Fidelity Series Stock Selector Large Cap Value Fund | 5.2 |
| Fidelity Series Value Discovery Fund | 4.0 |
| | 70.7 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 45.7% |
| | International Equity Funds | 36.7% |
| | Bond Funds | 16.7% |
| | Short-Term Funds | 0.9% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® 2035 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.02% to 0.08% 4/1/21 to 6/17/21 | | | |
| (Cost $10,489,919) | | 10,490,000 | 10,489,986 |
| | | Shares | Value |
|
| Domestic Equity Funds - 45.7% | | | |
| Fidelity Series All-Sector Equity Fund (a) | | 42,483,555 | $498,332,105 |
| Fidelity Series Blue Chip Growth Fund (a) | | 45,409,898 | 790,586,328 |
| Fidelity Series Commodity Strategy Fund (a) | | 162,488,480 | 796,193,554 |
| Fidelity Series Growth Company Fund (a) | | 86,189,782 | 2,017,702,801 |
| Fidelity Series Intrinsic Opportunities Fund (a) | | 93,849,975 | 2,025,282,454 |
| Fidelity Series Large Cap Stock Fund (a) | | 95,963,240 | 1,770,521,782 |
| Fidelity Series Large Cap Value Index Fund (a) | | 44,429,393 | 652,667,781 |
| Fidelity Series Opportunistic Insights Fund (a) | | 50,838,794 | 1,033,552,678 |
| Fidelity Series Small Cap Discovery Fund (a) | | 15,322,408 | 221,562,014 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 41,824,568 | 741,131,347 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 104,880,353 | 1,496,642,642 |
| Fidelity Series Value Discovery Fund (a) | | 72,297,266 | 1,150,972,470 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $8,891,988,570) | | | 13,195,147,956 |
|
| International Equity Funds - 36.7% | | | |
| Fidelity Series Canada Fund (a) | | 48,556,326 | 620,064,288 |
| Fidelity Series Emerging Markets Fund (a) | | 35,970,748 | 420,498,040 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 148,236,670 | 3,803,752,964 |
| Fidelity Series International Growth Fund (a) | | 96,852,427 | 1,737,532,532 |
| Fidelity Series International Small Cap Fund (a) | | 26,255,992 | 544,024,154 |
| Fidelity Series International Value Fund (a) | | 160,036,941 | 1,736,400,806 |
| Fidelity Series Overseas Fund (a) | | 138,018,794 | 1,740,416,996 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $7,685,365,302) | | | 10,602,689,780 |
|
| Bond Funds - 16.7% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 17,077,018 | 155,059,322 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 4,976,567 | 49,865,203 |
| Fidelity Series Floating Rate High Income Fund (a) | | 3,267,246 | 30,025,987 |
| Fidelity Series High Income Fund (a) | | 18,916,108 | 177,433,089 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 53,729,011 | 577,049,573 |
| Fidelity Series International Credit Fund (a) | | 1,189,048 | 11,866,704 |
| Fidelity Series Investment Grade Bond Fund (a) | | 254,715,240 | 2,936,866,713 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 99,312,651 | 784,569,941 |
| Fidelity Series Real Estate Income Fund (a) | | 9,940,068 | 109,837,753 |
| TOTAL BOND FUNDS | | | |
| (Cost $4,917,911,410) | | | 4,832,574,285 |
|
| Short-Term Funds - 0.9% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 20,205,822 | 20,209,863 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 190,570,103 | 190,570,103 |
| Fidelity Series Short-Term Credit Fund (a) | | 3,946,878 | 40,139,745 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $249,825,586) | | | 250,919,711 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $21,755,580,787) | | | 28,891,821,718 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (219,353) |
| NET ASSETS - 100% | | | $28,891,602,365 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $52,884 |
| Total | $52,884 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series All-Sector Equity Fund | $349,648,749 | $67,638,561 | $85,259,119 | $55,463,168 | $(7,026,061) | $173,329,975 | $498,332,105 |
| Fidelity Series Blue Chip Growth Fund | 633,808,007 | 287,980,141 | 392,108,377 | 243,471,297 | 137,481,810 | 123,424,747 | 790,586,328 |
| Fidelity Series Canada Fund | 346,122,519 | 127,365,298 | 66,927,486 | 11,712,930 | (974,378) | 214,478,335 | 620,064,288 |
| Fidelity Series Commodity Strategy Fund | 644,799,085 | 188,432,552 | 218,693,743 | 2,870,626 | (51,002,998) | 232,658,658 | 796,193,554 |
| Fidelity Series Emerging Markets Debt Fund | 123,242,762 | 27,779,686 | 11,067,837 | 6,874,152 | (330,701) | 15,435,412 | 155,059,322 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 51,437,259 | 1,094,457 | 716,616 | (12,577) | (465,022) | 49,865,203 |
| Fidelity Series Emerging Markets Fund | 212,833,728 | 93,282,646 | 47,878,937 | 5,563,764 | 2,646,964 | 159,613,639 | 420,498,040 |
| Fidelity Series Emerging Markets Opportunities Fund | 2,000,663,934 | 776,448,114 | 429,420,829 | 107,502,273 | 27,480,927 | 1,428,580,818 | 3,803,752,964 |
| Fidelity Series Floating Rate High Income Fund | 24,399,593 | 4,800,469 | 2,624,730 | 1,183,155 | (43,103) | 3,493,758 | 30,025,987 |
| Fidelity Series Government Money Market Fund 0.08% | 578,212,175 | 281,558,683 | 669,200,755 | 615,034 | -- | -- | 190,570,103 |
| Fidelity Series Growth Company Fund | 1,320,805,016 | 604,937,508 | 564,288,191 | 470,669,692 | 246,470,160 | 409,778,308 | 2,017,702,801 |
| Fidelity Series High Income Fund | 148,793,218 | 21,519,310 | 13,307,453 | 9,156,329 | (183,783) | 20,611,797 | 177,433,089 |
| Fidelity Series Inflation-Protected Bond Index Fund | 408,458,648 | 208,419,562 | 67,252,607 | 6,888,954 | 266,615 | 27,157,355 | 577,049,573 |
| Fidelity Series International Credit Fund | 10,600,125 | 814,999 | -- | 814,999 | -- | 451,580 | 11,866,704 |
| Fidelity Series International Growth Fund | 1,518,337,992 | 415,272,716 | 526,728,495 | 239,753,080 | 78,586,332 | 252,063,987 | 1,737,532,532 |
| Fidelity Series International Small Cap Fund | 360,973,191 | 27,453,389 | 37,348,553 | 4,277,991 | 552,811 | 192,393,316 | 544,024,154 |
| Fidelity Series International Value Fund | 1,344,248,001 | 152,410,579 | 414,157,405 | 46,742,480 | (33,638,926) | 687,538,557 | 1,736,400,806 |
| Fidelity Series Intrinsic Opportunities Fund | 1,447,923,507 | 133,221,218 | 506,477,980 | 81,511,029 | 33,341,330 | 917,274,379 | 2,025,282,454 |
| Fidelity Series Investment Grade Bond Fund | 1,615,012,011 | 1,670,978,946 | 303,325,534 | 132,787,639 | (4,647,819) | (41,150,891) | 2,936,866,713 |
| Fidelity Series Large Cap Stock Fund | 1,276,467,283 | 164,492,921 | 345,229,385 | 90,505,503 | 25,629,177 | 649,161,786 | 1,770,521,782 |
| Fidelity Series Large Cap Value Index Fund | 350,723,921 | 172,207,576 | 86,331,596 | 13,030,368 | 4,167,186 | 211,900,694 | 652,667,781 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 467,880,223 | 555,824,177 | 56,924,966 | 66,816,036 | 688,957 | (182,898,450) | 784,569,941 |
| Fidelity Series Opportunistic Insights Fund | 717,817,047 | 248,636,906 | 169,302,907 | 142,462,409 | 45,550,506 | 190,851,126 | 1,033,552,678 |
| Fidelity Series Overseas Fund | 1,236,233,166 | 170,012,336 | 225,791,580 | 18,771,013 | (6,923,362) | 566,886,436 | 1,740,416,996 |
| Fidelity Series Real Estate Income Fund | 80,430,397 | 16,010,264 | 11,884,562 | 5,962,658 | (584,464) | 25,866,118 | 109,837,753 |
| Fidelity Series Short-Term Credit Fund | 38,699,571 | 21,264,463 | 20,884,555 | 947,345 | (76,454) | 1,136,720 | 40,139,745 |
| Fidelity Series Small Cap Discovery Fund | 142,603,303 | 11,212,221 | 56,255,046 | 5,688,591 | 7,600,710 | 116,400,826 | 221,562,014 |
| Fidelity Series Small Cap Opportunities Fund | 498,073,814 | 38,360,503 | 149,360,211 | 14,751,524 | 15,373,767 | 338,683,474 | 741,131,347 |
| Fidelity Series Stock Selector Large Cap Value Fund | 936,560,982 | 230,291,584 | 249,913,447 | 31,864,444 | 9,718,865 | 569,984,658 | 1,496,642,642 |
| Fidelity Series Value Discovery Fund | 697,006,295 | 174,533,152 | 162,267,354 | 23,880,613 | 13,500,451 | 428,199,926 | 1,150,972,470 |
| | $19,531,378,263 | $6,944,597,739 | $5,891,308,097 | $1,843,255,712 | $543,611,942 | $7,732,842,022 | $28,861,121,869 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments | $10,489,986 | $-- | $10,489,986 | $-- |
| Domestic Equity Funds | 13,195,147,956 | 13,195,147,956 | -- | -- |
| International Equity Funds | 10,602,689,780 | 10,602,689,780 | -- | -- |
| Bond Funds | 4,832,574,285 | 4,832,574,285 | -- | -- |
| Short-Term Funds | 250,919,711 | 250,919,711 | -- | -- |
| Total Investments in Securities: | $28,891,821,718 | $28,881,331,732 | $10,489,986 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2035 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $10,489,919) | $10,489,986 | |
| Fidelity Central Funds (cost $20,209,500) | 20,209,863 | |
| Other affiliated issuers (cost $21,724,881,368) | 28,861,121,869 | |
| Total Investment in Securities (cost $21,755,580,787) | | $28,891,821,718 |
| Receivable for investments sold | | 407,495,061 |
| Receivable for fund shares sold | | 127,784,778 |
| Distributions receivable from Fidelity Central Funds | | 1,066 |
| Receivable for daily variation margin on futures contracts | | 456,492 |
| Other receivables | | 132,822 |
| Total assets | | 29,427,691,937 |
| Liabilities | | |
| Payable for investments purchased | $394,060,497 | |
| Payable for fund shares redeemed | 126,573,936 | |
| Accrued management fee | 15,322,319 | |
| Other payables and accrued expenses | 132,820 | |
| Total liabilities | | 536,089,572 |
| Net Assets | | $28,891,602,365 |
| Net Assets consist of: | | |
| Paid in capital | | $20,558,945,672 |
| Total accumulated earnings (loss) | | 8,332,656,693 |
| Net Assets | | $28,891,602,365 |
| Net Asset Value and Maximum Offering Price | | |
| Fidelity Freedom 2035 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($11,467,913,206 ÷ 660,691,427 shares) | | $17.36 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($13,070,819,290 ÷ 754,024,281 shares) | | $17.33 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($4,352,869,869 ÷ 251,525,216 shares) | | $17.31 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $434,184,066 |
| Interest | | 48,156 |
| Income from Fidelity Central Funds | | 52,884 |
| Total income | | 434,285,106 |
| Expenses | | |
| Management fee | $159,356,296 | |
| Independent trustees' fees and expenses | 70,292 | |
| Total expenses before reductions | 159,426,588 | |
| Expense reductions | (49) | |
| Total expenses after reductions | | 159,426,539 |
| Net investment income (loss) | | 274,858,567 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (5,946) | |
| Other affiliated issuers | 543,613,050 | |
| Futures contracts | (19,913,906) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 1,409,071,646 | |
| Total net realized gain (loss) | | 1,932,764,844 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (25,405) | |
| Fidelity Central Funds | (2,051) | |
| Other affiliated issuers | 7,732,842,022 | |
| Total change in net unrealized appreciation (depreciation) | | 7,732,814,566 |
| Net gain (loss) | | 9,665,579,410 |
| Net increase (decrease) in net assets resulting from operations | | $9,940,437,977 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $274,858,567 | $374,514,876 |
| Net realized gain (loss) | 1,932,764,844 | 1,022,450,167 |
| Change in net unrealized appreciation (depreciation) | 7,732,814,566 | (3,404,610,611) |
| Net increase (decrease) in net assets resulting from operations | 9,940,437,977 | (2,007,645,568) |
| Distributions to shareholders | (1,587,673,472) | (1,589,726,158) |
| Share transactions - net increase (decrease) | 903,730,590 | 1,105,568,240 |
| Total increase (decrease) in net assets | 9,256,495,095 | (2,491,803,486) |
| Net Assets | | |
| Beginning of period | 19,635,107,270 | 22,126,910,756 |
| End of period | $28,891,602,365 | $19,635,107,270 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom 2035 Fund
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.21 | $14.42 | $15.20 | $13.88 | $12.46 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .16 | .23 | .21 | .16 | .19 |
| Net realized and unrealized gain (loss) | 5.97 | (1.42) | .01 | 1.81 | 1.75 |
| Total from investment operations | 6.13 | (1.19) | .22 | 1.97 | 1.94 |
| Distributions from net investment income | (.18) | (.23) | (.22) | (.17) | (.18) |
| Distributions from net realized gain | (.81) | (.79) | (.78) | (.47) | (.34) |
| Total distributions | (.98)B | (1.02) | (1.00) | (.65)B | (.52) |
| Net asset value, end of period | $17.36 | $12.21 | $14.42 | $15.20 | $13.88 |
| Total ReturnC | 51.68% | (9.25)% | 1.85% | 14.32% | 16.09% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .72% | .73% | .74% | .63%F | - %G |
| Expenses net of fee waivers, if any | .72% | .73% | .74% | .63%F | -% |
| Expenses net of all reductions | .72% | .73% | .74% | .63%F | -% |
| Net investment income (loss) | 1.02% | 1.57% | 1.41% | 1.06% | 1.45% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $11,467,913 | $7,408,043 | $8,247,886 | $8,050,659 | $6,889,828 |
| Portfolio turnover rateH | 24% | 31% | 18% | 17%I | 16% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
G Amount represents less than .005%.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
I The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2035 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $12.19 | $14.40 | $15.18 | $14.60 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .17 | .24 | .22 | .22 |
| Net realized and unrealized gain (loss) | 5.96 | (1.42) | .01 | .82 |
| Total from investment operations | 6.13 | (1.18) | .23 | 1.04 |
| Distributions from net investment income | (.19) | (.24) | (.23) | (.19) |
| Distributions from net realized gain | (.81) | (.79) | (.78) | (.26) |
| Total distributions | (.99)C | (1.03) | (1.01) | (.46)C |
| Net asset value, end of period | $17.33 | $12.19 | $14.40 | $15.18 |
| Total ReturnD,E | 51.80% | (9.19)% | 1.95% | 7.09% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .62% | .63% | .64% | .65%H,I |
| Expenses net of fee waivers, if any | .62% | .63% | .64% | .65%H,I |
| Expenses net of all reductions | .62% | .63% | .64% | .65%H,I |
| Net investment income (loss) | 1.12% | 1.67% | 1.51% | 2.07%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $13,070,819 | $9,620,448 | $11,661,819 | $12,979,898 |
| Portfolio turnover rateJ | 24% | 31% | 18% | 17%K |
A For the period July 20, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
K The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2035 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $12.17 | $14.39 | $15.20 | $14.30 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .19 | .26 | .24 | .20 |
| Net realized and unrealized gain (loss) | 5.97 | (1.42) | .01 | 1.16 |
| Total from investment operations | 6.16 | (1.16) | .25 | 1.36 |
| Distributions from net investment income | (.21) | (.26) | (.27) | (.20) |
| Distributions from net realized gain | (.82) | (.80) | (.79) | (.26) |
| Total distributions | (1.02)C | (1.06) | (1.06) | (.46) |
| Net asset value, end of period | $17.31 | $12.17 | $14.39 | $15.20 |
| Total ReturnD,E | 52.14% | (9.08)% | 2.10% | 9.50% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .48% | .49% | .49% | .50%H,I |
| Expenses net of fee waivers, if any | .48% | .49% | .49% | .50%H,I |
| Expenses net of all reductions | .48% | .49% | .49% | .50%H,I |
| Net investment income (loss) | 1.26% | 1.82% | 1.65% | 1.61%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $4,352,870 | $2,606,617 | $2,217,206 | $712,276 |
| Portfolio turnover rateJ | 24% | 31% | 18% | 17%K |
A For the period June 7, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
K The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2040 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Intrinsic Opportunities Fund | 8.0 |
| Fidelity Series Growth Company Fund | 8.0 |
| Fidelity Series Large Cap Stock Fund | 7.0 |
| Fidelity Series Overseas Fund | 6.8 |
| Fidelity Series International Growth Fund | 6.8 |
| Fidelity Series International Value Fund | 6.8 |
| Fidelity Series Stock Selector Large Cap Value Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 4.5 |
| Fidelity Series Opportunistic Insights Fund | 4.1 |
| | 72.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® 2040 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.02% to 0.08% 4/1/21 to 6/17/21 | | | |
| (Cost $11,339,846) | | 11,340,000 | 11,339,914 |
| | | Shares | Value |
|
| Domestic Equity Funds - 51.8% | | | |
| Fidelity Series All-Sector Equity Fund (a) | | 48,929,603 | $573,944,243 |
| Fidelity Series Blue Chip Growth Fund (a) | | 52,299,795 | 910,539,429 |
| Fidelity Series Commodity Strategy Fund (a) | | 164,218,272 | 804,669,530 |
| Fidelity Series Growth Company Fund (a) | | 99,264,235 | 2,323,775,741 |
| Fidelity Series Intrinsic Opportunities Fund (a) | | 108,097,432 | 2,332,742,578 |
| Fidelity Series Large Cap Stock Fund (a) | | 110,529,777 | 2,039,274,385 |
| Fidelity Series Large Cap Value Index Fund (a) | | 51,173,928 | 751,745,003 |
| Fidelity Series Opportunistic Insights Fund (a) | | 58,553,140 | 1,190,385,340 |
| Fidelity Series Small Cap Discovery Fund (a) | | 17,647,945 | 255,189,289 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 48,161,173 | 853,415,979 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 120,802,833 | 1,723,856,427 |
| Fidelity Series Value Discovery Fund (a) | | 83,272,339 | 1,325,695,634 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $10,193,375,974) | | | 15,085,233,578 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 55,188,545 | 704,757,720 |
| Fidelity Series Emerging Markets Fund (a) | | 39,452,419 | 461,198,780 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 162,253,143 | 4,163,415,643 |
| Fidelity Series International Growth Fund (a) | | 110,080,950 | 1,974,852,247 |
| Fidelity Series International Small Cap Fund (a) | | 29,924,154 | 620,028,461 |
| Fidelity Series International Value Fund (a) | | 181,959,872 | 1,974,264,607 |
| Fidelity Series Overseas Fund (a) | | 156,868,796 | 1,978,115,516 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $8,712,906,913) | | | 11,876,632,974 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 17,312,706 | 157,199,368 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 5,099,205 | 51,094,033 |
| Fidelity Series Floating Rate High Income Fund (a) | | 3,280,413 | 30,146,999 |
| Fidelity Series High Income Fund (a) | | 19,249,485 | 180,560,165 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 53,805,052 | 577,866,254 |
| Fidelity Series International Credit Fund (a) | | 1,155,902 | 11,535,904 |
| Fidelity Series Investment Grade Bond Fund (a) | | 1,038,926 | 11,978,817 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 100,373,795 | 792,952,982 |
| Fidelity Series Real Estate Income Fund (a) | | 10,025,764 | 110,784,694 |
| TOTAL BOND FUNDS | | | |
| (Cost $1,999,429,599) | | | 1,924,119,216 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 11,492,257 | 11,494,556 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 192,203,651 | 192,203,651 |
| Fidelity Series Short-Term Credit Fund (a) | | 3,981,003 | 40,486,799 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $243,292,395) | | | 244,185,006 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $21,160,344,727) | | | 29,141,510,688 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (267,553) |
| NET ASSETS - 100% | | | $29,141,243,135 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $52,510 |
| Total | $52,510 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series All-Sector Equity Fund | $379,844,160 | $77,026,493 | $66,739,334 | $62,568,394 | $(3,253,560) | $187,066,484 | $573,944,243 |
| Fidelity Series Blue Chip Growth Fund | 694,320,587 | 350,445,349 | 397,822,675 | 291,103,706 | 96,754,734 | 166,841,434 | 910,539,429 |
| Fidelity Series Canada Fund | 378,931,606 | 142,756,037 | 54,090,312 | 13,072,551 | (1,818,561) | 238,978,950 | 704,757,720 |
| Fidelity Series Commodity Strategy Fund | 646,206,631 | 199,667,920 | 221,462,494 | 2,878,460 | (55,028,692) | 235,286,165 | 804,669,530 |
| Fidelity Series Emerging Markets Debt Fund | 121,561,538 | 32,984,875 | 12,039,915 | 6,786,149 | (352,176) | 15,045,046 | 157,199,368 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 52,836,304 | 1,074,467 | 715,578 | (13,506) | (654,298) | 51,094,033 |
| Fidelity Series Emerging Markets Fund | 226,559,024 | 108,903,990 | 46,968,703 | 5,995,980 | 1,664,316 | 171,040,153 | 461,198,780 |
| Fidelity Series Emerging Markets Opportunities Fund | 2,128,703,375 | 860,368,411 | 375,906,484 | 115,742,758 | 19,187,791 | 1,531,062,550 | 4,163,415,643 |
| Fidelity Series Floating Rate High Income Fund | 24,311,225 | 5,262,874 | 2,847,545 | 1,175,271 | (120,272) | 3,540,717 | 30,146,999 |
| Fidelity Series Government Money Market Fund 0.08% | 579,793,482 | 309,427,675 | 697,017,506 | 629,660 | -- | -- | 192,203,651 |
| Fidelity Series Growth Company Fund | 1,429,457,131 | 706,172,709 | 518,537,663 | 529,826,594 | 231,856,465 | 474,827,099 | 2,323,775,741 |
| Fidelity Series High Income Fund | 148,721,571 | 25,970,195 | 14,464,482 | 9,125,503 | (215,456) | 20,548,337 | 180,560,165 |
| Fidelity Series Inflation-Protected Bond Index Fund | 413,241,334 | 216,159,341 | 78,948,072 | 6,873,057 | 223,150 | 27,190,501 | 577,866,254 |
| Fidelity Series International Credit Fund | 10,304,633 | 792,279 | -- | 792,279 | -- | 438,992 | 11,535,904 |
| Fidelity Series International Growth Fund | 1,620,917,039 | 488,859,282 | 493,688,924 | 267,320,575 | 80,767,823 | 277,997,027 | 1,974,852,247 |
| Fidelity Series International Small Cap Fund | 387,510,225 | 66,426,351 | 44,937,534 | 4,765,104 | 306,179 | 210,723,240 | 620,028,461 |
| Fidelity Series International Value Fund | 1,449,691,547 | 162,596,643 | 357,812,318 | 52,843,573 | (24,009,564) | 743,798,299 | 1,974,264,607 |
| Fidelity Series Intrinsic Opportunities Fund | 1,586,816,675 | 150,657,648 | 468,462,324 | 91,429,809 | 34,747,002 | 1,028,983,577 | 2,332,742,578 |
| Fidelity Series Investment Grade Bond Fund | -- | 12,610,977 | 280,408 | 87,370 | (1,266) | (350,486) | 11,978,817 |
| Fidelity Series Large Cap Stock Fund | 1,407,477,972 | 218,999,870 | 341,811,396 | 100,413,704 | 16,586,146 | 738,021,793 | 2,039,274,385 |
| Fidelity Series Large Cap Value Index Fund | 386,286,675 | 216,599,894 | 92,973,581 | 14,723,579 | 3,564,381 | 238,267,634 | 751,745,003 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 471,792,052 | 572,292,132 | 68,933,000 | 66,464,601 | 4,213,980 | (186,412,182) | 792,952,982 |
| Fidelity Series Opportunistic Insights Fund | 786,510,852 | 310,753,515 | 166,295,796 | 159,575,935 | 41,433,514 | 217,983,255 | 1,190,385,340 |
| Fidelity Series Overseas Fund | 1,343,371,459 | 231,326,056 | 213,250,974 | 20,673,496 | (4,651,506) | 621,320,481 | 1,978,115,516 |
| Fidelity Series Real Estate Income Fund | 81,495,734 | 15,820,251 | 12,043,816 | 6,000,915 | (632,901) | 26,145,426 | 110,784,694 |
| Fidelity Series Short-Term Credit Fund | 39,141,971 | 21,404,884 | 21,130,456 | 955,915 | (74,739) | 1,145,139 | 40,486,799 |
| Fidelity Series Small Cap Discovery Fund | 157,396,268 | 14,515,047 | 56,482,279 | 6,540,744 | 7,494,524 | 132,265,729 | 255,189,289 |
| Fidelity Series Small Cap Opportunities Fund | 548,656,569 | 38,751,155 | 131,209,067 | 16,647,930 | 14,192,886 | 383,024,436 | 853,415,979 |
| Fidelity Series Stock Selector Large Cap Value Fund | 1,032,007,516 | 288,522,754 | 246,546,201 | 36,111,820 | 12,466,505 | 637,405,853 | 1,723,856,427 |
| Fidelity Series Value Discovery Fund | 768,337,156 | 227,227,784 | 162,347,785 | 26,891,467 | 7,185,621 | 485,292,858 | 1,325,695,634 |
| | $19,249,366,007 | $6,126,138,695 | $5,366,125,511 | $1,918,732,477 | $482,472,818 | $8,626,824,209 | $29,118,676,218 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments | $11,339,914 | $-- | $11,339,914 | $-- |
| Domestic Equity Funds | 15,085,233,578 | 15,085,233,578 | -- | -- |
| International Equity Funds | 11,876,632,974 | 11,876,632,974 | -- | -- |
| Bond Funds | 1,924,119,216 | 1,924,119,216 | -- | -- |
| Short-Term Funds | 244,185,006 | 244,185,006 | -- | -- |
| Total Investments in Securities: | $29,141,510,688 | $29,130,170,774 | $11,339,914 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2040 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $11,339,846) | $11,339,914 | |
| Fidelity Central Funds (cost $11,494,139) | 11,494,556 | |
| Other affiliated issuers (cost $21,137,510,742) | 29,118,676,218 | |
| Total Investment in Securities (cost $21,160,344,727) | | $29,141,510,688 |
| Receivable for investments sold | | 382,641,294 |
| Receivable for fund shares sold | | 129,845,020 |
| Distributions receivable from Fidelity Central Funds | | 662 |
| Receivable for daily variation margin on futures contracts | | 426,844 |
| Other receivables | | 111,100 |
| Total assets | | 29,654,535,608 |
| Liabilities | | |
| Payable for investments purchased | $369,611,915 | |
| Payable for fund shares redeemed | 127,557,188 | |
| Accrued management fee | 16,012,274 | |
| Other payables and accrued expenses | 111,096 | |
| Total liabilities | | 513,292,473 |
| Net Assets | | $29,141,243,135 |
| Net Assets consist of: | | |
| Paid in capital | | $19,890,778,101 |
| Total accumulated earnings (loss) | | 9,250,465,034 |
| Net Assets | | $29,141,243,135 |
| Net Asset Value and Maximum Offering Price | | |
| Fidelity Freedom 2040 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($11,610,620,610 ÷ 934,233,093 shares) | | $12.43 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($13,396,653,696 ÷ 1,078,238,993 shares) | | $12.42 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($4,133,968,829 ÷ 333,815,304 shares) | | $12.38 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $422,556,659 |
| Interest | | 48,200 |
| Income from Fidelity Central Funds | | 52,510 |
| Total income | | 422,657,369 |
| Expenses | | |
| Management fee | $165,138,714 | |
| Independent trustees' fees and expenses | 70,089 | |
| Total expenses before reductions | 165,208,803 | |
| Expense reductions | (39) | |
| Total expenses after reductions | | 165,208,764 |
| Net investment income (loss) | | 257,448,605 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (5,986) | |
| Other affiliated issuers | 483,016,359 | |
| Futures contracts | (15,623,949) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 1,496,175,818 | |
| Total net realized gain (loss) | | 1,963,562,242 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (23,313) | |
| Fidelity Central Funds | (2,428) | |
| Other affiliated issuers | 8,626,824,209 | |
| Futures contracts | (1,342,019) | |
| Total change in net unrealized appreciation (depreciation) | | 8,625,456,449 |
| Net gain (loss) | | 10,589,018,691 |
| Net increase (decrease) in net assets resulting from operations | | $10,846,467,296 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $257,448,605 | $363,684,658 |
| Net realized gain (loss) | 1,963,562,242 | 988,510,700 |
| Change in net unrealized appreciation (depreciation) | 8,625,456,449 | (3,657,548,277) |
| Net increase (decrease) in net assets resulting from operations | 10,846,467,296 | (2,305,352,919) |
| Distributions to shareholders | (1,531,402,987) | (1,587,988,996) |
| Share transactions - net increase (decrease) | 473,223,214 | 811,338,784 |
| Total increase (decrease) in net assets | 9,788,287,523 | (3,082,003,131) |
| Net Assets | | |
| Beginning of period | 19,352,955,612 | 22,434,958,743 |
| End of period | $29,141,243,135 | $19,352,955,612 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom 2040 Fund
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $8.40 | $10.09 | $10.67 | $9.74 | $8.75 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .10 | .15 | .14 | .11 | .13 |
| Net realized and unrealized gain (loss) | 4.60 | (1.13) | –B | 1.29 | 1.24 |
| Total from investment operations | 4.70 | (.98) | .14 | 1.40 | 1.37 |
| Distributions from net investment income | (.12) | (.16) | (.15) | (.12) | (.13) |
| Distributions from net realized gain | (.54) | (.55) | (.57) | (.35) | (.24) |
| Total distributions | (.67)C | (.71) | (.72) | (.47) | (.38)C |
| Net asset value, end of period | $12.43 | $8.40 | $10.09 | $10.67 | $9.74 |
| Total ReturnD | 57.59% | (10.80)% | 1.79% | 14.52% | 16.14% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .75% | .75% | .75% | .63%G | - %H |
| Expenses net of fee waivers, if any | .75% | .75% | .75% | .63%G | -% |
| Expenses net of all reductions | .75% | .75% | .75% | .63%G | -% |
| Net investment income (loss) | .95% | 1.52% | 1.36% | 1.04% | 1.44% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $11,610,621 | $7,378,482 | $8,404,848 | $8,285,660 | $7,264,459 |
| Portfolio turnover rateI | 22% | 28% | 17% | 16%J | 15% |
A Calculated based on average shares outstanding during the period.
B Amount represents less than $.005 per share.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount represents less than .005%.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
J The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2040 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $8.39 | $10.08 | $10.66 | $10.25 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .11 | .16 | .15 | .15 |
| Net realized and unrealized gain (loss) | 4.59 | (1.13) | –C | .59 |
| Total from investment operations | 4.70 | (.97) | .15 | .74 |
| Distributions from net investment income | (.13) | (.17) | (.16) | (.14) |
| Distributions from net realized gain | (.54) | (.55) | (.57) | (.19) |
| Total distributions | (.67) | (.72) | (.73) | (.33) |
| Net asset value, end of period | $12.42 | $8.39 | $10.08 | $10.66 |
| Total ReturnD,E | 57.77% | (10.76)% | 1.87% | 7.21% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .64% | .64% | .64% | .65%H,I |
| Expenses net of fee waivers, if any | .64% | .64% | .64% | .65%H,I |
| Expenses net of all reductions | .64% | .64% | .64% | .65%H,I |
| Net investment income (loss) | 1.05% | 1.62% | 1.46% | 2.06%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $13,396,654 | $9,581,184 | $11,994,623 | $13,434,642 |
| Portfolio turnover rateJ | 22% | 28% | 17% | 16%K |
A For the period July 20, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
K The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2040 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $8.37 | $10.06 | $10.66 | $10.03 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .13 | .18 | .16 | .13 |
| Net realized and unrealized gain (loss) | 4.57 | (1.13) | .01 | .83 |
| Total from investment operations | 4.70 | (.95) | .17 | .96 |
| Distributions from net investment income | (.15) | (.18) | (.19) | (.14) |
| Distributions from net realized gain | (.55) | (.56) | (.58) | (.19) |
| Total distributions | (.69)C | (.74) | (.77) | (.33) |
| Net asset value, end of period | $12.38 | $8.37 | $10.06 | $10.66 |
| Total ReturnD,E | 57.95% | (10.58)% | 2.06% | 9.60% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .49% | .49% | .50%H | .50%H,I |
| Expenses net of fee waivers, if any | .49% | .49% | .50%H | .50%H,I |
| Expenses net of all reductions | .49% | .49% | .50%H | .50%H,I |
| Net investment income (loss) | 1.20% | 1.77% | 1.61% | 1.55%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $4,133,969 | $2,393,289 | $2,035,487 | $652,451 |
| Portfolio turnover rateJ | 22% | 28% | 17% | 16%K |
A For the period June 7, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
K The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2045 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Intrinsic Opportunities Fund | 8.0 |
| Fidelity Series Growth Company Fund | 8.0 |
| Fidelity Series Large Cap Stock Fund | 7.0 |
| Fidelity Series Overseas Fund | 6.8 |
| Fidelity Series International Growth Fund | 6.8 |
| Fidelity Series International Value Fund | 6.8 |
| Fidelity Series Stock Selector Large Cap Value Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 4.5 |
| Fidelity Series Opportunistic Insights Fund | 4.1 |
| | 72.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® 2045 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.02% to 0.08% 4/1/21 to 6/17/21 | | | |
| (Cost $7,449,899) | | 7,450,000 | 7,449,944 |
| | | Shares | Value |
|
| Domestic Equity Funds - 51.8% | | | |
| Fidelity Series All-Sector Equity Fund (a) | | 32,288,020 | $378,738,471 |
| Fidelity Series Blue Chip Growth Fund (a) | | 34,511,948 | 600,853,021 |
| Fidelity Series Commodity Strategy Fund (a) | | 108,379,174 | 531,057,951 |
| Fidelity Series Growth Company Fund (a) | | 65,503,090 | 1,533,427,331 |
| Fidelity Series Intrinsic Opportunities Fund (a) | | 71,332,447 | 1,539,354,207 |
| Fidelity Series Large Cap Stock Fund (a) | | 72,937,431 | 1,345,695,611 |
| Fidelity Series Large Cap Value Index Fund (a) | | 33,769,173 | 496,069,152 |
| Fidelity Series Opportunistic Insights Fund (a) | | 38,638,486 | 785,520,418 |
| Fidelity Series Small Cap Discovery Fund (a) | | 11,645,694 | 168,396,737 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 31,780,941 | 563,158,273 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 79,716,648 | 1,137,556,561 |
| Fidelity Series Value Discovery Fund (a) | | 54,950,584 | 874,813,304 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $6,912,700,512) | | | 9,954,641,037 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 36,418,301 | 465,061,710 |
| Fidelity Series Emerging Markets Fund (a) | | 26,037,175 | 304,374,578 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 107,070,751 | 2,747,435,467 |
| Fidelity Series International Growth Fund (a) | | 72,641,007 | 1,303,179,667 |
| Fidelity Series International Small Cap Fund (a) | | 19,748,143 | 409,181,533 |
| Fidelity Series International Value Fund (a) | | 120,076,024 | 1,302,824,858 |
| Fidelity Series Overseas Fund (a) | | 103,515,641 | 1,305,332,238 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $5,826,512,067) | | | 7,837,390,051 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 11,428,139 | 103,767,500 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 3,368,251 | 33,749,871 |
| Fidelity Series Floating Rate High Income Fund (a) | | 2,161,089 | 19,860,408 |
| Fidelity Series High Income Fund (a) | | 12,709,672 | 119,216,722 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 35,518,390 | 381,467,514 |
| Fidelity Series International Credit Fund (a) | | 687,732 | 6,863,561 |
| Fidelity Series Investment Grade Bond Fund (a) | | 698,929 | 8,058,650 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 66,243,962 | 523,327,304 |
| Fidelity Series Real Estate Income Fund (a) | | 6,615,883 | 73,105,509 |
| TOTAL BOND FUNDS | | | |
| (Cost $1,319,608,988) | | | 1,269,417,039 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 7,702,320 | 7,703,860 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 126,836,215 | 126,836,215 |
| Fidelity Series Short-Term Credit Fund (a) | | 2,627,017 | 26,716,767 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $160,663,101) | | | 161,256,842 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $14,226,934,567) | | | 19,230,154,913 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (170,014) |
| NET ASSETS - 100% | | | $19,229,984,899 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $33,411 |
| Total | $33,411 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series All-Sector Equity Fund | $243,345,740 | $57,552,723 | $41,079,992 | $41,140,659 | $(1,385,004) | $120,305,004 | $378,738,471 |
| Fidelity Series Blue Chip Growth Fund | 444,840,786 | 238,213,052 | 251,490,940 | 189,902,948 | 53,621,016 | 115,669,107 | 600,853,021 |
| Fidelity Series Canada Fund | 242,577,568 | 101,877,100 | 33,897,483 | 8,587,048 | (900,590) | 155,405,115 | 465,061,710 |
| Fidelity Series Commodity Strategy Fund | 414,290,973 | 140,872,829 | 141,679,469 | 1,871,953 | (33,722,742) | 151,296,360 | 531,057,951 |
| Fidelity Series Emerging Markets Debt Fund | 77,901,194 | 23,690,001 | 7,252,952 | 4,420,563 | 5,322 | 9,423,935 | 103,767,500 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 35,062,210 | 881,509 | 470,324 | (11,223) | (419,607) | 33,749,871 |
| Fidelity Series Emerging Markets Fund | 145,255,562 | 75,933,796 | 29,159,612 | 3,938,661 | 1,086,030 | 111,258,802 | 304,374,578 |
| Fidelity Series Emerging Markets Opportunities Fund | 1,364,681,176 | 607,506,713 | 232,333,336 | 76,028,375 | 9,754,339 | 997,826,575 | 2,747,435,467 |
| Fidelity Series Floating Rate High Income Fund | 15,733,939 | 3,597,865 | 1,715,254 | 774,029 | (1,526) | 2,245,384 | 19,860,408 |
| Fidelity Series Government Money Market Fund 0.08% | 371,430,307 | 205,373,240 | 449,967,332 | 408,022 | -- | -- | 126,836,215 |
| Fidelity Series Growth Company Fund | 915,811,783 | 486,417,666 | 321,203,085 | 348,085,832 | 104,344,271 | 348,056,696 | 1,533,427,331 |
| Fidelity Series High Income Fund | 95,298,373 | 19,484,559 | 8,713,269 | 5,949,657 | 36,044 | 13,111,015 | 119,216,722 |
| Fidelity Series Inflation-Protected Bond Index Fund | 264,863,387 | 148,108,551 | 49,191,386 | 4,517,676 | 75,518 | 17,611,444 | 381,467,514 |
| Fidelity Series International Credit Fund | 6,130,987 | 471,386 | -- | 471,386 | -- | 261,188 | 6,863,561 |
| Fidelity Series International Growth Fund | 1,038,755,116 | 344,130,064 | 309,908,970 | 175,598,784 | 33,182,421 | 197,021,036 | 1,303,179,667 |
| Fidelity Series International Small Cap Fund | 248,399,296 | 51,028,540 | 27,283,071 | 3,129,985 | 57,425 | 136,979,343 | 409,181,533 |
| Fidelity Series International Value Fund | 929,267,144 | 129,698,130 | 225,023,341 | 34,710,845 | (15,781,000) | 484,663,925 | 1,302,824,858 |
| Fidelity Series Intrinsic Opportunities Fund | 1,016,845,055 | 126,695,873 | 298,017,973 | 59,864,842 | 25,753,817 | 668,077,435 | 1,539,354,207 |
| Fidelity Series Investment Grade Bond Fund | -- | 8,522,340 | 227,625 | 58,585 | (1,048) | (235,017) | 8,058,650 |
| Fidelity Series Large Cap Stock Fund | 902,062,631 | 166,850,009 | 215,395,620 | 65,419,771 | 11,205,168 | 480,973,423 | 1,345,695,611 |
| Fidelity Series Large Cap Value Index Fund | 247,604,152 | 148,936,112 | 58,286,661 | 9,672,804 | 2,705,766 | 155,109,783 | 496,069,152 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 302,380,590 | 383,195,925 | 42,582,344 | 43,486,336 | 2,488,094 | (122,154,961) | 523,327,304 |
| Fidelity Series Opportunistic Insights Fund | 503,882,073 | 218,763,780 | 103,271,483 | 104,849,466 | 13,083,461 | 153,062,587 | 785,520,418 |
| Fidelity Series Overseas Fund | 861,115,277 | 175,262,099 | 130,859,177 | 13,582,525 | (3,283,162) | 403,097,201 | 1,305,332,238 |
| Fidelity Series Real Estate Income Fund | 51,566,409 | 12,409,895 | 7,275,035 | 3,873,118 | (173,400) | 16,577,640 | 73,105,509 |
| Fidelity Series Short-Term Credit Fund | 25,486,982 | 14,349,055 | 13,818,847 | 626,464 | (52,663) | 752,240 | 26,716,767 |
| Fidelity Series Small Cap Discovery Fund | 100,982,202 | 11,695,099 | 35,286,243 | 4,289,173 | 3,423,565 | 87,582,114 | 168,396,737 |
| Fidelity Series Small Cap Opportunities Fund | 351,735,840 | 33,202,640 | 80,711,096 | 10,906,122 | 8,574,151 | 250,356,738 | 563,158,273 |
| Fidelity Series Stock Selector Large Cap Value Fund | 661,521,596 | 206,637,486 | 154,413,978 | 23,724,177 | 7,368,392 | 416,443,065 | 1,137,556,561 |
| Fidelity Series Value Discovery Fund | 492,395,896 | 162,347,946 | 101,069,306 | 17,666,252 | 5,737,037 | 315,401,731 | 874,813,304 |
| | $12,336,162,034 | $4,337,886,684 | $3,371,996,389 | $1,258,026,382 | $227,189,479 | $5,685,759,301 | $19,215,001,109 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments | $7,449,944 | $-- | $7,449,944 | $-- |
| Domestic Equity Funds | 9,954,641,037 | 9,954,641,037 | -- | -- |
| International Equity Funds | 7,837,390,051 | 7,837,390,051 | -- | -- |
| Bond Funds | 1,269,417,039 | 1,269,417,039 | -- | -- |
| Short-Term Funds | 161,256,842 | 161,256,842 | -- | -- |
| Total Investments in Securities: | $19,230,154,913 | $19,222,704,969 | $7,449,944 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2045 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $7,449,899) | $7,449,944 | |
| Fidelity Central Funds (cost $7,703,582) | 7,703,860 | |
| Other affiliated issuers (cost $14,211,781,086) | 19,215,001,109 | |
| Total Investment in Securities (cost $14,226,934,567) | | $19,230,154,913 |
| Receivable for investments sold | | 249,514,311 |
| Receivable for fund shares sold | | 125,676,300 |
| Distributions receivable from Fidelity Central Funds | | 442 |
| Receivable for daily variation margin on futures contracts | | 280,152 |
| Other receivables | | 107,107 |
| Total assets | | 19,605,733,225 |
| Liabilities | | |
| Payable for investments purchased | $246,693,363 | |
| Payable for fund shares redeemed | 118,559,919 | |
| Accrued management fee | 10,387,937 | |
| Other payables and accrued expenses | 107,107 | |
| Total liabilities | | 375,748,326 |
| Net Assets | | $19,229,984,899 |
| Net Assets consist of: | | |
| Paid in capital | | $13,413,286,649 |
| Total accumulated earnings (loss) | | 5,816,698,250 |
| Net Assets | | $19,229,984,899 |
| Net Asset Value and Maximum Offering Price | | |
| Fidelity Freedom 2045 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($6,499,049,347 ÷ 456,973,767 shares) | | $14.22 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($9,496,660,683 ÷ 668,503,475 shares) | | $14.21 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($3,234,274,869 ÷ 228,304,306 shares) | | $14.17 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $276,866,197 |
| Interest | | 30,987 |
| Income from Fidelity Central Funds | | 33,411 |
| Total income | | 276,930,595 |
| Expenses | | |
| Management fee | $106,005,255 | |
| Independent trustees' fees and expenses | 45,493 | |
| Total expenses before reductions | 106,050,748 | |
| Expense reductions | (37) | |
| Total expenses after reductions | | 106,050,711 |
| Net investment income (loss) | | 170,879,884 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (3,855) | |
| Other affiliated issuers | 227,190,157 | |
| Futures contracts | (10,150,760) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 981,160,185 | |
| Total net realized gain (loss) | | 1,198,195,727 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (14,916) | |
| Fidelity Central Funds | (1,519) | |
| Other affiliated issuers | 5,685,759,301 | |
| Futures contracts | (885,282) | |
| Total change in net unrealized appreciation (depreciation) | | 5,684,857,584 |
| Net gain (loss) | | 6,883,053,311 |
| Net increase (decrease) in net assets resulting from operations | | $7,053,933,195 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $170,879,884 | $229,304,423 |
| Net realized gain (loss) | 1,198,195,727 | 573,467,194 |
| Change in net unrealized appreciation (depreciation) | 5,684,857,584 | (2,298,016,057) |
| Net increase (decrease) in net assets resulting from operations | 7,053,933,195 | (1,495,244,440) |
| Distributions to shareholders | (888,134,747) | (967,465,826) |
| Share transactions - net increase (decrease) | 661,817,893 | 1,051,585,785 |
| Total increase (decrease) in net assets | 6,827,616,341 | (1,411,124,481) |
| Net Assets | | |
| Beginning of period | 12,402,368,558 | 13,813,493,039 |
| End of period | $19,229,984,899 | $12,402,368,558 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom 2045 Fund
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $9.54 | $11.44 | $12.09 | $11.00 | $9.89 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .12 | .17 | .16 | .12 | .15 |
| Net realized and unrealized gain (loss) | 5.23 | (1.29) | (.01) | 1.46 | 1.39 |
| Total from investment operations | 5.35 | (1.12) | .15 | 1.58 | 1.54 |
| Distributions from net investment income | (.14) | (.18) | (.17) | (.13) | (.15) |
| Distributions from net realized gain | (.53) | (.61) | (.63) | (.35) | (.28) |
| Total distributions | (.67) | (.78)B | (.80) | (.49)B | (.43) |
| Net asset value, end of period | $14.22 | $9.54 | $11.44 | $12.09 | $11.00 |
| Total ReturnC | 57.65% | (10.80)% | 1.72% | 14.48% | 16.08% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .75% | .75% | .75% | .63%F | - %G |
| Expenses net of fee waivers, if any | .75% | .75% | .75% | .63%F | -% |
| Expenses net of all reductions | .75% | .75% | .75% | .63%F | -% |
| Net investment income (loss) | .96% | 1.52% | 1.37% | 1.04% | 1.45% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $6,499,049 | $3,945,874 | $4,345,914 | $4,144,152 | $3,496,184 |
| Portfolio turnover rateH | 21% | 28% | 18% | 17%I | 15% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
G Amount represents less than .005%.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
I The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2045 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $9.53 | $11.43 | $12.08 | $11.59 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .13 | .18 | .17 | .17 |
| Net realized and unrealized gain (loss) | 5.23 | (1.29) | (.01) | .67 |
| Total from investment operations | 5.36 | (1.11) | .16 | .84 |
| Distributions from net investment income | (.15) | (.19) | (.18) | (.15) |
| Distributions from net realized gain | (.53) | (.61) | (.63) | (.19) |
| Total distributions | (.68) | (.79)C | (.81) | (.35)C |
| Net asset value, end of period | $14.21 | $9.53 | $11.43 | $12.08 |
| Total ReturnD,E | 57.85% | (10.74)% | 1.83% | 7.21% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .64% | .64% | .64% | .65%H,I |
| Expenses net of fee waivers, if any | .64% | .64% | .64% | .65%H,I |
| Expenses net of all reductions | .64% | .64% | .64% | .65%H,I |
| Net investment income (loss) | 1.06% | 1.62% | 1.47% | 2.05%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $9,496,661 | $6,636,812 | $7,982,073 | $8,748,416 |
| Portfolio turnover rateJ | 21% | 28% | 18% | 17%K |
A For the period July 20, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
K The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2045 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $9.51 | $11.41 | $12.09 | $11.34 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .15 | .20 | .18 | .14 |
| Net realized and unrealized gain (loss) | 5.22 | (1.28) | (.01) | .96 |
| Total from investment operations | 5.37 | (1.08) | .17 | 1.10 |
| Distributions from net investment income | (.17) | (.20) | (.21) | (.16) |
| Distributions from net realized gain | (.54) | (.61) | (.64) | (.19) |
| Total distributions | (.71) | (.82)C | (.85) | (.35) |
| Net asset value, end of period | $14.17 | $9.51 | $11.41 | $12.09 |
| Total ReturnD,E | 58.05% | (10.57)% | 1.95% | 9.70% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .49% | .49% | .50% | .50%H,I |
| Expenses net of fee waivers, if any | .49% | .49% | .50% | .50%H,I |
| Expenses net of all reductions | .49% | .49% | .50% | .50%H,I |
| Net investment income (loss) | 1.21% | 1.77% | 1.62% | 1.45%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $3,234,275 | $1,819,682 | $1,485,505 | $412,758 |
| Portfolio turnover rateJ | 21% | 28% | 18% | 17%K |
A For the period June 7, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
K The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2050 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Intrinsic Opportunities Fund | 8.0 |
| Fidelity Series Growth Company Fund | 8.0 |
| Fidelity Series Large Cap Stock Fund | 7.0 |
| Fidelity Series Overseas Fund | 6.8 |
| Fidelity Series International Growth Fund | 6.8 |
| Fidelity Series International Value Fund | 6.8 |
| Fidelity Series Stock Selector Large Cap Value Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 4.5 |
| Fidelity Series Opportunistic Insights Fund | 4.1 |
| | 72.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® 2050 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.02% to 0.08% 4/1/21 to 6/17/21 | | | |
| (Cost $6,549,911) | | 6,550,000 | 6,549,951 |
| | | Shares | Value |
|
| Domestic Equity Funds - 51.8% | | | |
| Fidelity Series All-Sector Equity Fund (a) | | 28,431,240 | $333,498,446 |
| Fidelity Series Blue Chip Growth Fund (a) | | 30,389,510 | 529,081,371 |
| Fidelity Series Commodity Strategy Fund (a) | | 95,438,383 | 467,648,075 |
| Fidelity Series Growth Company Fund (a) | | 57,678,755 | 1,350,259,645 |
| Fidelity Series Intrinsic Opportunities Fund (a) | | 62,811,807 | 1,355,478,802 |
| Fidelity Series Large Cap Stock Fund (a) | | 64,225,082 | 1,184,952,768 |
| Fidelity Series Large Cap Value Index Fund (a) | | 29,735,454 | 436,813,818 |
| Fidelity Series Opportunistic Insights Fund (a) | | 34,023,145 | 691,690,531 |
| Fidelity Series Small Cap Discovery Fund (a) | | 10,254,627 | 148,281,900 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 27,984,743 | 495,889,650 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 70,194,502 | 1,001,675,540 |
| Fidelity Series Value Discovery Fund (a) | | 48,386,746 | 770,316,992 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $6,133,592,010) | | | 8,765,587,538 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 32,068,176 | 409,510,603 |
| Fidelity Series Emerging Markets Fund (a) | | 22,928,124 | 268,029,768 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 94,281,774 | 2,419,270,312 |
| Fidelity Series International Growth Fund (a) | | 63,964,036 | 1,147,514,808 |
| Fidelity Series International Small Cap Fund (a) | | 17,389,806 | 360,316,787 |
| Fidelity Series International Value Fund (a) | | 105,733,954 | 1,147,213,405 |
| Fidelity Series Overseas Fund (a) | | 91,150,664 | 1,149,409,869 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $5,151,187,038) | | | 6,901,265,552 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 10,064,441 | 91,385,124 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 2,967,150 | 29,730,839 |
| Fidelity Series Floating Rate High Income Fund (a) | | 1,907,621 | 17,531,037 |
| Fidelity Series High Income Fund (a) | | 11,194,204 | 105,001,630 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 31,290,018 | 336,054,789 |
| Fidelity Series International Credit Fund (a) | | 581,442 | 5,802,793 |
| Fidelity Series Investment Grade Bond Fund (a) | | 617,768 | 7,122,862 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 58,334,324 | 460,841,160 |
| Fidelity Series Real Estate Income Fund (a) | | 5,825,618 | 64,373,083 |
| TOTAL BOND FUNDS | | | |
| (Cost $1,161,827,416) | | | 1,117,843,317 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 6,662,630 | 6,663,962 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 111,685,041 | 111,685,041 |
| Fidelity Series Short-Term Credit Fund (a) | | 2,313,225 | 23,525,503 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $141,347,772) | | | 141,874,506 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $12,594,504,147) | | | 16,933,120,864 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (148,703) |
| NET ASSETS - 100% | | | $16,932,972,161 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $28,920 |
| Total | $28,920 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series All-Sector Equity Fund | $212,103,452 | $52,570,973 | $35,271,307 | $36,145,806 | $(848,165) | $104,943,493 | $333,498,446 |
| Fidelity Series Blue Chip Growth Fund | 387,768,085 | 214,835,973 | 221,378,898 | 166,717,834 | 41,757,300 | 106,098,911 | 529,081,371 |
| Fidelity Series Canada Fund | 211,216,958 | 92,262,117 | 29,429,951 | 7,525,265 | (994,194) | 136,455,673 | 409,510,603 |
| Fidelity Series Commodity Strategy Fund | 361,223,795 | 126,503,316 | 123,174,432 | 1,644,419 | (28,361,726) | 131,457,122 | 467,648,075 |
| Fidelity Series Emerging Markets Debt Fund | 67,912,785 | 21,361,398 | 6,119,852 | 3,877,382 | (37,581) | 8,268,374 | 91,385,124 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 30,699,361 | 580,296 | 413,393 | (12,131) | (376,095) | 29,730,839 |
| Fidelity Series Emerging Markets Fund | 126,658,976 | 67,933,686 | 24,860,994 | 3,451,664 | 609,456 | 97,688,644 | 268,029,768 |
| Fidelity Series Emerging Markets Opportunities Fund | 1,189,836,247 | 545,162,153 | 197,175,848 | 66,625,667 | 6,206,640 | 875,241,120 | 2,419,270,312 |
| Fidelity Series Floating Rate High Income Fund | 13,761,959 | 3,239,748 | 1,441,696 | 681,693 | (15,867) | 1,986,893 | 17,531,037 |
| Fidelity Series Government Money Market Fund 0.08% | 323,644,870 | 181,594,879 | 393,554,708 | 357,308 | -- | -- | 111,685,041 |
| Fidelity Series Growth Company Fund | 798,291,591 | 439,549,996 | 283,474,136 | 305,107,716 | 79,765,588 | 316,126,606 | 1,350,259,645 |
| Fidelity Series High Income Fund | 83,078,313 | 17,767,933 | 7,343,491 | 5,218,995 | (22,620) | 11,521,495 | 105,001,630 |
| Fidelity Series Inflation-Protected Bond Index Fund | 230,909,234 | 132,002,597 | 42,347,490 | 3,959,514 | 64,779 | 15,425,669 | 336,054,789 |
| Fidelity Series International Credit Fund | 5,183,439 | 398,532 | -- | 398,533 | -- | 220,822 | 5,802,793 |
| Fidelity Series International Growth Fund | 905,643,982 | 308,865,539 | 268,474,817 | 153,887,401 | 28,841,691 | 172,638,413 | 1,147,514,808 |
| Fidelity Series International Small Cap Fund | 216,595,635 | 46,571,602 | 22,996,352 | 2,742,877 | 515,992 | 119,629,910 | 360,316,787 |
| Fidelity Series International Value Fund | 810,228,607 | 121,403,450 | 195,092,893 | 30,418,070 | (12,781,272) | 423,455,513 | 1,147,213,405 |
| Fidelity Series Intrinsic Opportunities Fund | 886,446,859 | 119,772,350 | 258,710,888 | 52,502,430 | 20,520,312 | 587,450,169 | 1,355,478,802 |
| Fidelity Series Investment Grade Bond Fund | -- | 7,483,051 | 151,799 | 51,653 | (1,305) | (207,085) | 7,122,862 |
| Fidelity Series Large Cap Stock Fund | 786,415,802 | 154,641,567 | 187,369,103 | 57,391,077 | 11,138,809 | 420,125,693 | 1,184,952,768 |
| Fidelity Series Large Cap Value Index Fund | 215,875,500 | 133,096,343 | 50,478,265 | 8,479,253 | 2,606,683 | 135,713,557 | 436,813,818 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 263,615,483 | 338,987,762 | 36,753,928 | 38,091,649 | 2,221,790 | (107,229,947) | 460,841,160 |
| Fidelity Series Opportunistic Insights Fund | 439,233,571 | 195,816,941 | 88,849,206 | 91,967,571 | 11,434,976 | 134,054,249 | 691,690,531 |
| Fidelity Series Overseas Fund | 750,810,782 | 161,037,828 | 112,660,498 | 11,903,907 | (2,657,524) | 352,879,281 | 1,149,409,869 |
| Fidelity Series Real Estate Income Fund | 44,989,175 | 11,271,932 | 6,283,127 | 3,401,765 | (212,994) | 14,608,097 | 64,373,083 |
| Fidelity Series Short-Term Credit Fund | 22,423,945 | 12,687,480 | 12,202,835 | 552,687 | (45,813) | 662,726 | 23,525,503 |
| Fidelity Series Small Cap Discovery Fund | 88,053,848 | 11,692,852 | 31,201,826 | 3,758,589 | 2,682,441 | 77,054,585 | 148,281,900 |
| Fidelity Series Small Cap Opportunities Fund | 306,736,837 | 33,717,741 | 71,330,901 | 9,563,879 | 6,516,791 | 220,249,182 | 495,889,650 |
| Fidelity Series Stock Selector Large Cap Value Fund | 576,799,170 | 187,501,128 | 134,029,690 | 20,796,929 | 5,036,061 | 366,368,871 | 1,001,675,540 |
| Fidelity Series Value Discovery Fund | 429,258,511 | 147,181,220 | 87,534,173 | 15,486,304 | 5,015,001 | 276,396,433 | 770,316,992 |
| | $10,754,717,411 | $3,917,611,448 | $2,930,273,400 | $1,103,121,230 | $178,943,118 | $4,998,908,374 | $16,919,906,951 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments | $6,549,951 | $-- | $6,549,951 | $-- |
| Domestic Equity Funds | 8,765,587,538 | 8,765,587,538 | -- | -- |
| International Equity Funds | 6,901,265,552 | 6,901,265,552 | -- | -- |
| Bond Funds | 1,117,843,317 | 1,117,843,317 | -- | -- |
| Short-Term Funds | 141,874,506 | 141,874,506 | -- | -- |
| Total Investments in Securities: | $16,933,120,864 | $16,926,570,913 | $6,549,951 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2050 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $6,549,911) | $6,549,951 | |
| Fidelity Central Funds (cost $6,663,720) | 6,663,962 | |
| Other affiliated issuers (cost $12,581,290,516) | 16,919,906,951 | |
| Total Investment in Securities (cost $12,594,504,147) | | $16,933,120,864 |
| Receivable for investments sold | | 220,537,032 |
| Receivable for fund shares sold | | 108,900,485 |
| Distributions receivable from Fidelity Central Funds | | 384 |
| Receivable for daily variation margin on futures contracts | | 247,313 |
| Other receivables | | 60,405 |
| Total assets | | 17,262,866,483 |
| Liabilities | | |
| Payable for investments purchased | $217,030,654 | |
| Payable for fund shares redeemed | 103,654,078 | |
| Accrued management fee | 9,149,188 | |
| Other payables and accrued expenses | 60,402 | |
| Total liabilities | | 329,894,322 |
| Net Assets | | $16,932,972,161 |
| Net Assets consist of: | | |
| Paid in capital | | $11,896,862,371 |
| Total accumulated earnings (loss) | | 5,036,109,790 |
| Net Assets | | $16,932,972,161 |
| Net Asset Value and Maximum Offering Price | | |
| Fidelity Freedom 2050 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($5,495,176,977 ÷ 383,476,576 shares) | | $14.33 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($8,727,043,355 ÷ 609,642,717 shares) | | $14.32 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($2,710,751,829 ÷ 189,599,906 shares) | | $14.30 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $242,749,594 |
| Interest | | 27,038 |
| Income from Fidelity Central Funds | | 28,920 |
| Total income | | 242,805,552 |
| Expenses | | |
| Management fee | $93,052,555 | |
| Independent trustees' fees and expenses | 39,863 | |
| Total expenses before reductions | 93,092,418 | |
| Expense reductions | (45) | |
| Total expenses after reductions | | 93,092,373 |
| Net investment income (loss) | | 149,713,179 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (3,354) | |
| Other affiliated issuers | 178,943,696 | |
| Futures contracts | (8,903,169) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 860,371,636 | |
| Total net realized gain (loss) | | 1,030,408,809 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (12,952) | |
| Fidelity Central Funds | (1,317) | |
| Other affiliated issuers | 4,998,908,374 | |
| Futures contracts | (778,146) | |
| Total change in net unrealized appreciation (depreciation) | | 4,998,115,959 |
| Net gain (loss) | | 6,028,524,768 |
| Net increase (decrease) in net assets resulting from operations | | $6,178,237,947 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $149,713,179 | $199,756,859 |
| Net realized gain (loss) | 1,030,408,809 | 497,850,675 |
| Change in net unrealized appreciation (depreciation) | 4,998,115,959 | (1,997,122,237) |
| Net increase (decrease) in net assets resulting from operations | 6,178,237,947 | (1,299,514,703) |
| Distributions to shareholders | (765,799,605) | (831,785,387) |
| Share transactions - net increase (decrease) | 708,288,076 | 1,096,985,996 |
| Total increase (decrease) in net assets | 6,120,726,418 | (1,034,314,094) |
| Net Assets | | |
| Beginning of period | 10,812,245,743 | 11,846,559,837 |
| End of period | $16,932,972,161 | $10,812,245,743 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom 2050 Fund
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $9.61 | $11.52 | $12.16 | $11.05 | $9.93 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .12 | .18 | .16 | .12 | .15 |
| Net realized and unrealized gain (loss) | 5.27 | (1.30) | –B | 1.48 | 1.40 |
| Total from investment operations | 5.39 | (1.12) | .16 | 1.60 | 1.55 |
| Distributions from net investment income | (.14) | (.18) | (.17) | (.14) | (.15) |
| Distributions from net realized gain | (.53) | (.60) | (.63) | (.35) | (.28) |
| Total distributions | (.67) | (.79)C | (.80) | (.49) | (.43) |
| Net asset value, end of period | $14.33 | $9.61 | $11.52 | $12.16 | $11.05 |
| Total ReturnD | 57.62% | (10.80)% | 1.73% | 14.59% | 16.11% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .75% | .75% | .75% | .63%G | - %H |
| Expenses net of fee waivers, if any | .75% | .75% | .75% | .63%G | -% |
| Expenses net of all reductions | .75% | .75% | .75% | .63%G | -% |
| Net investment income (loss) | .96% | 1.53% | 1.37% | 1.04% | 1.45% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $5,495,177 | $3,373,190 | $3,679,538 | $3,452,997 | $2,884,830 |
| Portfolio turnover rateI | 21% | 27% | 18% | 16%J | 15% |
A Calculated based on average shares outstanding during the period.
B Amount represents less than $.005 per share.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount represents less than .005%.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
J The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2050 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $9.60 | $11.50 | $12.14 | $11.65 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .13 | .19 | .17 | .17 |
| Net realized and unrealized gain (loss) | 5.27 | (1.29) | –C | .67 |
| Total from investment operations | 5.40 | (1.10) | .17 | .84 |
| Distributions from net investment income | (.15) | (.19) | (.18) | (.15) |
| Distributions from net realized gain | (.53) | (.61) | (.63) | (.19) |
| Total distributions | (.68) | (.80) | (.81) | (.35)D |
| Net asset value, end of period | $14.32 | $9.60 | $11.50 | $12.14 |
| Total ReturnE,F | 57.78% | (10.66)% | 1.82% | 7.18% |
| Ratios to Average Net AssetsG,H | | | | |
| Expenses before reductions | .64% | .64% | .64% | .65%I,J |
| Expenses net of fee waivers, if any | .64% | .64% | .64% | .65%I,J |
| Expenses net of all reductions | .64% | .64% | .64% | .65%I,J |
| Net investment income (loss) | 1.06% | 1.63% | 1.48% | 2.04%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $8,727,043 | $5,952,708 | $6,982,416 | $7,475,339 |
| Portfolio turnover rateK | 21% | 27% | 18% | 16%L |
A For the period July 20, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
K Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
L The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2050 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $9.59 | $11.49 | $12.15 | $11.40 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .15 | .20 | .19 | .14 |
| Net realized and unrealized gain (loss) | 5.26 | (1.28) | (.01) | .96 |
| Total from investment operations | 5.41 | (1.08) | .18 | 1.10 |
| Distributions from net investment income | (.17) | (.21) | (.21) | (.16) |
| Distributions from net realized gain | (.53) | (.61) | (.63) | (.19) |
| Total distributions | (.70) | (.82) | (.84) | (.35) |
| Net asset value, end of period | $14.30 | $9.59 | $11.49 | $12.15 |
| Total ReturnC,D | 57.97% | (10.49)% | 1.96% | 9.65% |
| Ratios to Average Net AssetsE,F | | | | |
| Expenses before reductions | .49% | .49% | .50%G | .50%G,H |
| Expenses net of fee waivers, if any | .49% | .49% | .50%G | .50%G,H |
| Expenses net of all reductions | .49% | .49% | .50%G | .50%G,H |
| Net investment income (loss) | 1.21% | 1.78% | 1.62% | 1.42%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $2,710,752 | $1,486,348 | $1,184,606 | $327,591 |
| Portfolio turnover rateI | 21% | 27% | 18% | 16%J |
A For the period June 7, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
J The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2055 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Intrinsic Opportunities Fund | 8.0 |
| Fidelity Series Growth Company Fund | 8.0 |
| Fidelity Series Large Cap Stock Fund | 7.0 |
| Fidelity Series Overseas Fund | 6.8 |
| Fidelity Series International Growth Fund | 6.8 |
| Fidelity Series International Value Fund | 6.8 |
| Fidelity Series Stock Selector Large Cap Value Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 4.5 |
| Fidelity Series Opportunistic Insights Fund | 4.1 |
| | 72.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.9% |
| | Net Other Assets (Liabilities)* | (0.1)% |
* Net Other Assets (Liabilities) are not included in the pie chart
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® 2055 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.02% to 0.08% 4/1/21 to 6/17/21 | | | |
| (Cost $3,289,956) | | 3,290,000 | 3,289,976 |
| | | Shares | Value |
|
| Domestic Equity Funds - 51.8% | | | |
| Fidelity Series All-Sector Equity Fund (a) | | 14,452,613 | $169,529,154 |
| Fidelity Series Blue Chip Growth Fund (a) | | 15,448,009 | 268,949,843 |
| Fidelity Series Commodity Strategy Fund (a) | | 48,531,658 | 237,805,122 |
| Fidelity Series Growth Company Fund (a) | | 29,319,900 | 686,378,848 |
| Fidelity Series Intrinsic Opportunities Fund (a) | | 31,929,992 | 689,049,233 |
| Fidelity Series Large Cap Stock Fund (a) | | 32,648,276 | 602,360,701 |
| Fidelity Series Large Cap Value Index Fund (a) | | 15,115,825 | 222,051,467 |
| Fidelity Series Opportunistic Insights Fund (a) | | 17,295,189 | 351,611,195 |
| Fidelity Series Small Cap Discovery Fund (a) | | 5,212,859 | 75,377,936 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 14,225,643 | 252,078,397 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 35,682,972 | 509,196,016 |
| Fidelity Series Value Discovery Fund (a) | | 24,597,056 | 391,585,133 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $3,387,552,429) | | | 4,455,973,045 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 16,301,540 | 208,170,665 |
| Fidelity Series Emerging Markets Fund (a) | | 11,659,000 | 136,293,715 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 47,929,486 | 1,229,870,619 |
| Fidelity Series International Growth Fund (a) | | 32,515,161 | 583,321,985 |
| Fidelity Series International Small Cap Fund (a) | | 8,841,790 | 183,201,891 |
| Fidelity Series International Value Fund (a) | | 53,751,976 | 583,208,942 |
| Fidelity Series Overseas Fund (a) | | 46,334,953 | 584,283,758 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $2,736,338,990) | | | 3,508,351,575 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 5,120,784 | 46,496,716 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 1,512,480 | 15,155,047 |
| Fidelity Series Floating Rate High Income Fund (a) | | 968,497 | 8,900,484 |
| Fidelity Series High Income Fund (a) | | 5,699,439 | 53,460,742 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 15,921,397 | 170,995,799 |
| Fidelity Series International Credit Fund (a) | | 196,472 | 1,960,786 |
| Fidelity Series Investment Grade Bond Fund (a) | | 320,472 | 3,695,040 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 29,664,269 | 234,347,727 |
| Fidelity Series Real Estate Income Fund (a) | | 2,961,384 | 32,723,293 |
| TOTAL BOND FUNDS | | | |
| (Cost $590,136,600) | | | 567,735,634 |
|
| Short-Term Funds - 0.9% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 3,683,647 | 3,684,383 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 56,774,094 | 56,774,094 |
| Fidelity Series Short-Term Credit Fund (a) | | 1,175,909 | 11,958,990 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $72,142,182) | | | 72,417,467 |
| TOTAL INVESTMENT IN SECURITIES - 100.1% | | | |
| (Cost $6,789,460,157) | | | 8,607,767,697 |
| NET OTHER ASSETS (LIABILITIES) - (0.1)% | | | (4,475,953) |
| NET ASSETS - 100% | | | $8,603,291,744 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $13,676 |
| Total | $13,676 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series All-Sector Equity Fund. | $102,538,772 | $33,405,591 | $17,522,878 | $18,208,464 | $96,019 | $51,011,650 | $169,529,154 |
| Fidelity Series Blue Chip Growth Fund | 187,507,223 | 117,683,997 | 108,160,908 | 82,728,514 | 13,173,359 | 58,746,172 | 268,949,843 |
| Fidelity Series Canada Fund | 102,272,824 | 53,837,481 | 15,242,660 | 3,778,671 | (386,082) | 67,689,102 | 208,170,665 |
| Fidelity Series Commodity Strategy Fund | 174,824,429 | 72,783,457 | 61,060,492 | 811,166 | (12,038,160) | 63,295,888 | 237,805,122 |
| Fidelity Series Emerging Markets Debt Fund | 32,851,788 | 12,810,648 | 3,150,800 | 1,923,104 | 8,473 | 3,976,607 | 46,496,716 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 15,769,400 | 414,428 | 207,910 | (5,925) | (194,000) | 15,155,047 |
| Fidelity Series Emerging Markets Fund | 61,312,985 | 38,766,920 | 12,394,056 | 1,733,228 | 227,964 | 48,379,902 | 136,293,715 |
| Fidelity Series Emerging Markets Opportunities Fund | 575,818,721 | 317,662,635 | 98,998,109 | 33,454,154 | 2,666,906 | 432,720,466 | 1,229,870,619 |
| Fidelity Series Floating Rate High Income Fund | 6,830,635 | 1,815,560 | 743,656 | 346,449 | (3,330) | 1,001,275 | 8,900,484 |
| Fidelity Series Government Money Market Fund 0.08% | 156,431,430 | 93,460,957 | 193,118,293 | 175,622 | -- | -- | 56,774,094 |
| Fidelity Series Growth Company Fund | 385,995,184 | 246,600,187 | 137,302,897 | 153,359,399 | 21,332,930 | 169,753,444 | 686,378,848 |
| Fidelity Series High Income Fund | 40,185,395 | 11,414,744 | 3,782,915 | 2,591,548 | (10,433) | 5,653,951 | 53,460,742 |
| Fidelity Series Inflation-Protected Bond Index Fund | 111,702,784 | 72,811,017 | 21,087,280 | 1,991,630 | 3,834 | 7,565,444 | 170,995,799 |
| Fidelity Series International Credit Fund | 1,751,504 | 134,666 | -- | 134,666 | -- | 74,616 | 1,960,786 |
| Fidelity Series International Growth Fund | 438,016,794 | 179,329,658 | 131,739,142 | 77,274,648 | 500,116 | 97,214,559 | 583,321,985 |
| Fidelity Series International Small Cap Fund | 104,814,991 | 30,967,261 | 11,819,754 | 1,377,259 | 401,978 | 58,837,415 | 183,201,891 |
| Fidelity Series International Value Fund | 392,001,352 | 84,219,065 | 96,754,832 | 15,273,349 | (3,412,233) | 207,155,590 | 583,208,942 |
| Fidelity Series Intrinsic Opportunities Fund | 428,771,865 | 87,622,130 | 129,625,495 | 26,213,322 | 8,843,227 | 293,437,506 | 689,049,233 |
| Fidelity Series Investment Grade Bond Fund | -- | 3,908,284 | 105,951 | 26,564 | (799) | (106,494) | 3,695,040 |
| Fidelity Series Large Cap Stock Fund | 380,465,209 | 102,154,097 | 94,778,663 | 28,417,268 | 4,125,290 | 210,394,768 | 602,360,701 |
| Fidelity Series Large Cap Value Index Fund | 104,497,485 | 74,399,264 | 25,705,080 | 4,259,421 | 899,562 | 67,960,236 | 222,051,467 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 127,521,685 | 178,264,946 | 18,695,511 | 19,005,617 | 901,937 | (53,645,330) | 234,347,727 |
| Fidelity Series Opportunistic Insights Fund | 212,381,565 | 112,896,875 | 44,051,757 | 46,221,133 | 2,010,341 | 68,374,171 | 351,611,195 |
| Fidelity Series Overseas Fund | 363,239,177 | 103,841,471 | 55,409,607 | 5,978,768 | (1,338,500) | 173,951,217 | 584,283,758 |
| Fidelity Series Real Estate Income Fund | 22,180,819 | 6,456,182 | 3,137,502 | 1,727,755 | (135,712) | 7,359,506 | 32,723,293 |
| Fidelity Series Short-Term Credit Fund | 11,112,065 | 6,653,327 | 6,114,347 | 277,412 | (23,181) | 331,126 | 11,958,990 |
| Fidelity Series Small Cap Discovery Fund | 42,663,266 | 8,529,537 | 15,363,298 | 1,882,385 | 625,446 | 38,922,985 | 75,377,936 |
| Fidelity Series Small Cap Opportunities Fund | 148,454,980 | 26,293,968 | 35,256,443 | 4,779,304 | 2,653,544 | 109,932,348 | 252,078,397 |
| Fidelity Series Stock Selector Large Cap Value Fund | 279,158,612 | 113,615,339 | 68,251,507 | 10,446,850 | 2,090,373 | 182,583,199 | 509,196,016 |
| Fidelity Series Value Discovery Fund | 207,654,815 | 88,501,719 | 44,443,518 | 7,779,181 | 2,439,182 | 137,432,935 | 391,585,133 |
| | $5,202,958,354 | $2,296,610,383 | $1,454,231,779 | $552,384,761 | $45,646,126 | $2,509,810,254 | $8,600,793,338 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments | $3,289,976 | $-- | $3,289,976 | $-- |
| Domestic Equity Funds | 4,455,973,045 | 4,455,973,045 | -- | -- |
| International Equity Funds | 3,508,351,575 | 3,508,351,575 | -- | -- |
| Bond Funds | 567,735,634 | 567,735,634 | -- | -- |
| Short-Term Funds | 72,417,467 | 72,417,467 | -- | -- |
| Total Investments in Securities: | $8,607,767,697 | $8,604,477,721 | $3,289,976 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2055 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $3,289,956) | $3,289,976 | |
| Fidelity Central Funds (cost $3,684,264) | 3,684,383 | |
| Other affiliated issuers (cost $6,782,485,937) | 8,600,793,338 | |
| Total Investment in Securities (cost $6,789,460,157) | | $8,607,767,697 |
| Receivable for investments sold | | 105,269,675 |
| Receivable for fund shares sold | | 61,725,364 |
| Distributions receivable from Fidelity Central Funds | | 210 |
| Receivable for daily variation margin on futures contracts | | 125,077 |
| Total assets | | 8,774,888,023 |
| Liabilities | | |
| Payable for investments purchased | $112,595,622 | |
| Payable for fund shares redeemed | 54,399,554 | |
| Accrued management fee | 4,601,103 | |
| Total liabilities | | 171,596,279 |
| Net Assets | | $8,603,291,744 |
| Net Assets consist of: | | |
| Paid in capital | | $6,455,055,267 |
| Total accumulated earnings (loss) | | 2,148,236,477 |
| Net Assets | | $8,603,291,744 |
| Net Asset Value and Maximum Offering Price | | |
| Fidelity Freedom 2055 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($2,561,622,469 ÷ 155,638,845 shares) | | $16.46 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($4,567,253,411 ÷ 277,582,943 shares) | | $16.45 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($1,474,415,864 ÷ 89,722,471 shares) | | $16.43 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $121,435,746 |
| Interest | | 13,093 |
| Income from Fidelity Central Funds | | 13,676 |
| Total income | | 121,462,515 |
| Expenses | | |
| Management fee | $45,944,082 | |
| Independent trustees' fees and expenses | 19,657 | |
| Total expenses before reductions | 45,963,739 | |
| Expense reductions | (65) | |
| Total expenses after reductions | | 45,963,674 |
| Net investment income (loss) | | 75,498,841 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (1,626) | |
| Other affiliated issuers | 45,646,363 | |
| Futures contracts | (4,194,493) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 430,949,015 | |
| Total net realized gain (loss) | | 472,399,259 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (6,203) | |
| Fidelity Central Funds | (614) | |
| Other affiliated issuers | 2,509,810,254 | |
| Futures contracts | (383,434) | |
| Total change in net unrealized appreciation (depreciation) | | 2,509,420,003 |
| Net gain (loss) | | 2,981,819,262 |
| Net increase (decrease) in net assets resulting from operations | | $3,057,318,103 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $75,498,841 | $92,538,767 |
| Net realized gain (loss) | 472,399,259 | 213,853,629 |
| Change in net unrealized appreciation (depreciation) | 2,509,420,003 | (957,737,314) |
| Net increase (decrease) in net assets resulting from operations | 3,057,318,103 | (651,344,918) |
| Distributions to shareholders | (325,870,637) | (364,707,384) |
| Share transactions - net increase (decrease) | 641,326,242 | 1,076,025,735 |
| Total increase (decrease) in net assets | 3,372,773,708 | 59,973,433 |
| Net Assets | | |
| Beginning of period | 5,230,518,036 | 5,170,544,603 |
| End of period | $8,603,291,744 | $5,230,518,036 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom 2055 Fund
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.95 | $13.10 | $13.70 | $12.41 | $11.08 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .14 | .20 | .19 | .14 | .17 |
| Net realized and unrealized gain (loss) | 6.02 | (1.49) | –B | 1.64 | 1.57 |
| Total from investment operations | 6.16 | (1.29) | .19 | 1.78 | 1.74 |
| Distributions from net investment income | (.16) | (.20) | (.19) | (.15) | (.16) |
| Distributions from net realized gain | (.50) | (.66) | (.60) | (.34) | (.25) |
| Total distributions | (.65)C | (.86) | (.79) | (.49) | (.41) |
| Net asset value, end of period | $16.46 | $10.95 | $13.10 | $13.70 | $12.41 |
| Total ReturnD | 57.70% | (10.85)% | 1.73% | 14.49% | 16.17% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .75% | .75% | .75% | .64%G | - %H |
| Expenses net of fee waivers, if any | .75% | .75% | .75% | .64%G | -% |
| Expenses net of all reductions | .75% | .75% | .75% | .64%G | -% |
| Net investment income (loss) | .97% | 1.54% | 1.40% | 1.06% | 1.46% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $2,561,622 | $1,500,450 | $1,490,393 | $1,265,311 | $922,284 |
| Portfolio turnover rateI | 21% | 25% | 18% | 15%J | 18% |
A Calculated based on average shares outstanding during the period.
B Amount represents less than $.005 per share.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount represents less than .005%.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
J The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2055 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $10.95 | $13.09 | $13.69 | $13.11 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .15 | .21 | .20 | .19 |
| Net realized and unrealized gain (loss) | 6.01 | (1.48) | –C | .76 |
| Total from investment operations | 6.16 | (1.27) | .20 | .95 |
| Distributions from net investment income | (.17) | (.21) | (.20) | (.17) |
| Distributions from net realized gain | (.50) | (.66) | (.60) | (.20) |
| Total distributions | (.66)D | (.87) | (.80) | (.37) |
| Net asset value, end of period | $16.45 | $10.95 | $13.09 | $13.69 |
| Total ReturnE,F | 57.70% | (10.70)% | 1.84% | 7.26% |
| Ratios to Average Net AssetsG,H | | | | |
| Expenses before reductions | .64% | .64% | .64% | .65%I,J |
| Expenses net of fee waivers, if any | .64% | .64% | .64% | .65%I,J |
| Expenses net of all reductions | .64% | .64% | .64% | .65%I,J |
| Net investment income (loss) | 1.07% | 1.64% | 1.50% | 2.01%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $4,567,253 | $2,984,272 | $3,138,528 | $2,992,599 |
| Portfolio turnover rateK | 21% | 25% | 18% | 15%L |
A For the period July 20, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
K Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
L The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2055 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $10.93 | $13.08 | $13.70 | $12.83 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .17 | .23 | .21 | .16 |
| Net realized and unrealized gain (loss) | 6.01 | (1.48) | –C | 1.09 |
| Total from investment operations | 6.18 | (1.25) | .21 | 1.25 |
| Distributions from net investment income | (.19) | (.23) | (.23) | (.17) |
| Distributions from net realized gain | (.50) | (.67) | (.60) | (.20) |
| Total distributions | (.68)D | (.90) | (.83) | (.38)D |
| Net asset value, end of period | $16.43 | $10.93 | $13.08 | $13.70 |
| Total ReturnE,F | 58.01% | (10.61)% | 1.97% | 9.70% |
| Ratios to Average Net AssetsG,H | | | | |
| Expenses before reductions | .49% | .49% | .50%I | .50%I,J |
| Expenses net of fee waivers, if any | .49% | .49% | .50%I | .50%I,J |
| Expenses net of all reductions | .49% | .49% | .50%I | .50%I,J |
| Net investment income (loss) | 1.22% | 1.79% | 1.65% | 1.43%J |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $1,474,416 | $745,795 | $541,624 | $135,481 |
| Portfolio turnover rateK | 21% | 25% | 18% | 15%L |
A For the period June 7, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Annualized
K Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
L The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2060 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Intrinsic Opportunities Fund | 8.0 |
| Fidelity Series Growth Company Fund | 8.0 |
| Fidelity Series Large Cap Stock Fund | 7.0 |
| Fidelity Series Overseas Fund | 6.8 |
| Fidelity Series International Growth Fund | 6.8 |
| Fidelity Series International Value Fund | 6.8 |
| Fidelity Series Stock Selector Large Cap Value Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 4.5 |
| Fidelity Series Opportunistic Insights Fund | 4.1 |
| | 72.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
| | Short-Term Investments | 0.1% |
| | Net Other Assets (Liabilities)* | (0.1)% |
* Net Other Assets (Liabilities) are not included in the pie chart
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® 2060 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.1% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.02% to 0.08% 4/1/21 to 6/17/21 | | | |
| (Cost $1,169,983) | | 1,170,000 | 1,169,990 |
| | | Shares | Value |
|
| Domestic Equity Funds - 51.8% | | | |
| Fidelity Series All-Sector Equity Fund (a) | | 5,283,400 | $61,974,277 |
| Fidelity Series Blue Chip Growth Fund (a) | | 5,647,299 | 98,319,479 |
| Fidelity Series Commodity Strategy Fund (a) | | 17,757,026 | 87,009,427 |
| Fidelity Series Growth Company Fund (a) | | 10,718,379 | 250,917,244 |
| Fidelity Series Intrinsic Opportunities Fund (a) | | 11,672,744 | 251,897,810 |
| Fidelity Series Large Cap Stock Fund (a) | | 11,935,269 | 220,205,711 |
| Fidelity Series Large Cap Value Index Fund (a) | | 5,525,935 | 81,175,981 |
| Fidelity Series Opportunistic Insights Fund (a) | | 6,322,578 | 128,538,017 |
| Fidelity Series Small Cap Discovery Fund (a) | | 1,905,676 | 27,556,071 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 5,200,434 | 92,151,690 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 13,044,740 | 186,148,436 |
| Fidelity Series Value Discovery Fund (a) | | 8,992,001 | 143,152,658 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $1,310,992,704) | | | 1,629,046,801 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 5,959,369 | 76,101,144 |
| Fidelity Series Emerging Markets Fund (a) | | 4,265,515 | 49,863,873 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 17,523,418 | 449,650,916 |
| Fidelity Series International Growth Fund (a) | | 11,886,429 | 213,242,533 |
| Fidelity Series International Small Cap Fund (a) | | 3,234,048 | 67,009,481 |
| Fidelity Series International Value Fund (a) | | 19,653,243 | 213,237,689 |
| Fidelity Series Overseas Fund (a) | | 16,938,406 | 213,593,299 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $1,041,507,422) | | | 1,282,698,935 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 1,874,559 | 17,020,992 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 556,706 | 5,578,196 |
| Fidelity Series Floating Rate High Income Fund (a) | | 355,838 | 3,270,149 |
| Fidelity Series High Income Fund (a) | | 2,089,688 | 19,601,276 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 5,834,297 | 62,660,351 |
| Fidelity Series International Credit Fund (a) | | 28,819 | 287,610 |
| Fidelity Series Investment Grade Bond Fund (a) | | 116,410 | 1,342,213 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 10,849,951 | 85,714,612 |
| Fidelity Series Real Estate Income Fund (a) | | 1,082,588 | 11,962,599 |
| TOTAL BOND FUNDS | | | |
| (Cost $215,791,951) | | | 207,437,998 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 1,156,505 | 1,156,736 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 20,754,237 | 20,754,237 |
| Fidelity Series Short-Term Credit Fund (a) | | 429,667 | 4,369,718 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $26,187,122) | | | 26,280,691 |
| TOTAL INVESTMENT IN SECURITIES - 100.1% | | | |
| (Cost $2,595,649,182) | | | 3,146,634,415 |
| NET OTHER ASSETS (LIABILITIES) - (0.1)% | | | (1,581,215) |
| NET ASSETS - 100% | | | $3,145,053,200 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $4,018 |
| Total | $4,018 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series All-Sector Equity Fund | $31,611,245 | $18,266,146 | $4,503,917 | $6,382,448 | $36,812 | $16,563,991 | $61,974,277 |
| Fidelity Series Blue Chip Growth Fund | 57,857,745 | 50,396,847 | 32,491,968 | 27,908,107 | 2,070,636 | 20,486,219 | 98,319,479 |
| Fidelity Series Canada Fund | 31,737,865 | 25,976,580 | 4,293,624 | 1,297,060 | (134,112) | 22,814,435 | 76,101,144 |
| Fidelity Series Commodity Strategy Fund | 54,009,017 | 33,810,506 | 18,026,738 | 271,084 | (3,278,696) | 20,495,338 | 87,009,427 |
| Fidelity Series Emerging Markets Debt Fund | 10,149,712 | 6,374,526 | 728,271 | 647,875 | 1,974 | 1,223,051 | 17,020,992 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 5,764,639 | 101,325 | 73,039 | (1,831) | (83,287) | 5,578,196 |
| Fidelity Series Emerging Markets Fund | 18,962,022 | 18,193,409 | 3,322,227 | 594,953 | (45,493) | 16,076,162 | 49,863,873 |
| Fidelity Series Emerging Markets Opportunities Fund | 177,933,485 | 153,887,411 | 25,322,250 | 11,482,814 | (100,844) | 143,253,114 | 449,650,916 |
| Fidelity Series Floating Rate High Income Fund | 2,214,978 | 963,995 | 252,387 | 122,350 | (7,282) | 350,845 | 3,270,149 |
| Fidelity Series Government Money Market Fund 0.08% | 48,201,151 | 34,762,711 | 62,209,625 | 57,570 | -- | -- | 20,754,237 |
| Fidelity Series Growth Company Fund | 119,069,908 | 110,498,845 | 38,125,604 | 52,734,540 | 1,543,923 | 57,930,172 | 250,917,244 |
| Fidelity Series High Income Fund | 12,409,675 | 6,248,478 | 873,656 | 875,275 | 18,498 | 1,798,281 | 19,601,276 |
| Fidelity Series Inflation-Protected Bond Index Fund | 34,500,453 | 31,245,039 | 5,516,235 | 684,513 | (2,800) | 2,433,894 | 62,660,351 |
| Fidelity Series International Credit Fund | 256,913 | 19,752 | -- | 19,753 | -- | 10,945 | 287,610 |
| Fidelity Series International Growth Fund | 135,174,776 | 84,832,950 | 37,449,428 | 26,526,941 | (747,573) | 31,431,808 | 213,242,533 |
| Fidelity Series International Small Cap Fund | 32,381,643 | 17,673,142 | 2,577,994 | 472,544 | 81,371 | 19,451,319 | 67,009,481 |
| Fidelity Series International Value Fund | 121,040,970 | 51,478,464 | 27,449,830 | 5,241,019 | 177,867 | 67,990,218 | 213,237,689 |
| Fidelity Series Intrinsic Opportunities Fund | 132,374,559 | 57,363,149 | 39,861,928 | 8,922,835 | 1,654,436 | 100,367,594 | 251,897,810 |
| Fidelity Series Investment Grade Bond Fund | -- | 1,401,915 | 22,961 | 9,458 | (224) | (36,517) | 1,342,213 |
| Fidelity Series Large Cap Stock Fund | 117,522,100 | 58,928,584 | 28,557,561 | 9,517,841 | 302,831 | 72,009,757 | 220,205,711 |
| Fidelity Series Large Cap Value Index Fund | 32,282,005 | 33,005,221 | 7,411,137 | 1,465,628 | 56,008 | 23,243,884 | 81,175,981 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 39,383,216 | 69,505,708 | 4,804,178 | 6,428,343 | 325,298 | (18,695,432) | 85,714,612 |
| Fidelity Series Opportunistic Insights Fund | 65,527,077 | 52,744,635 | 11,759,112 | 15,984,674 | (125,249) | 22,150,666 | 128,538,017 |
| Fidelity Series Overseas Fund | 112,154,305 | 59,628,527 | 14,878,878 | 2,053,200 | (359,101) | 57,048,446 | 213,593,299 |
| Fidelity Series Real Estate Income Fund | 6,964,826 | 3,382,964 | 821,075 | 595,208 | (42,336) | 2,478,220 | 11,962,599 |
| Fidelity Series Short-Term Credit Fund | 3,614,277 | 2,817,630 | 2,162,148 | 92,987 | (8,279) | 108,238 | 4,369,718 |
| Fidelity Series Small Cap Discovery Fund | 13,227,659 | 5,799,414 | 4,724,859 | 642,268 | 47,519 | 13,206,338 | 27,556,071 |
| Fidelity Series Small Cap Opportunities Fund | 45,909,405 | 18,294,278 | 9,751,372 | 1,629,082 | 319,494 | 37,379,885 | 92,151,690 |
| Fidelity Series Stock Selector Large Cap Value Fund | 86,302,866 | 58,357,590 | 20,805,350 | 3,594,872 | 378,004 | 61,915,326 | 186,148,436 |
| Fidelity Series Value Discovery Fund | 64,128,138 | 44,779,490 | 12,872,014 | 2,676,697 | 197,548 | 46,919,496 | 143,152,658 |
| | $1,606,901,991 | $1,116,402,545 | $421,677,652 | $189,004,978 | $2,358,399 | $840,322,406 | $3,144,307,689 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments | $1,169,990 | $-- | $1,169,990 | $-- |
| Domestic Equity Funds | 1,629,046,801 | 1,629,046,801 | -- | -- |
| International Equity Funds | 1,282,698,935 | 1,282,698,935 | -- | -- |
| Bond Funds | 207,437,998 | 207,437,998 | -- | -- |
| Short-Term Funds | 26,280,691 | 26,280,691 | -- | -- |
| Total Investments in Securities: | $3,146,634,415 | $3,145,464,425 | $1,169,990 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2060 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,169,983) | $1,169,990 | |
| Fidelity Central Funds (cost $1,156,700) | 1,156,736 | |
| Other affiliated issuers (cost $2,593,322,499) | 3,144,307,689 | |
| Total Investment in Securities (cost $2,595,649,182) | | $3,146,634,415 |
| Cash | | 36,146 |
| Receivable for investments sold | | 37,132,740 |
| Receivable for fund shares sold | | 25,972,278 |
| Distributions receivable from Fidelity Central Funds | | 70 |
| Receivable for daily variation margin on futures contracts | | 44,682 |
| Total assets | | 3,209,820,331 |
| Liabilities | | |
| Payable for investments purchased | $42,252,037 | |
| Payable for fund shares redeemed | 20,852,935 | |
| Accrued management fee | 1,662,159 | |
| Total liabilities | | 64,767,131 |
| Net Assets | | $3,145,053,200 |
| Net Assets consist of: | | |
| Paid in capital | | $2,488,839,892 |
| Total accumulated earnings (loss) | | 656,213,308 |
| Net Assets | | $3,145,053,200 |
| Net Asset Value and Maximum Offering Price | | |
| Fidelity Freedom 2060 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($891,301,239 ÷ 59,862,022 shares) | | $14.89 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($1,714,286,763 ÷ 115,216,112 shares) | | $14.88 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($539,465,198 ÷ 36,276,296 shares) | | $14.87 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $41,455,123 |
| Interest | | 4,061 |
| Income from Fidelity Central Funds | | 4,018 |
| Total income | | 41,463,202 |
| Expenses | | |
| Management fee | $15,510,677 | |
| Independent trustees' fees and expenses | 6,503 | |
| Total expenses before reductions | 15,517,180 | |
| Expense reductions | (89) | |
| Total expenses after reductions | | 15,517,091 |
| Net investment income (loss) | | 25,946,111 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (499) | |
| Other affiliated issuers | 2,358,399 | |
| Futures contracts | (1,389,595) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 147,549,855 | |
| Total net realized gain (loss) | | 148,518,160 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (1,853) | |
| Fidelity Central Funds | (178) | |
| Other affiliated issuers | 840,322,406 | |
| Futures contracts | (129,691) | |
| Total change in net unrealized appreciation (depreciation) | | 840,190,684 |
| Net gain (loss) | | 988,708,844 |
| Net increase (decrease) in net assets resulting from operations | | $1,014,654,955 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $25,946,111 | $26,724,215 |
| Net realized gain (loss) | 148,518,160 | 59,495,234 |
| Change in net unrealized appreciation (depreciation) | 840,190,684 | (296,150,113) |
| Net increase (decrease) in net assets resulting from operations | 1,014,654,955 | (209,930,664) |
| Distributions to shareholders | (98,835,588) | (94,869,567) |
| Share transactions - net increase (decrease) | 613,987,503 | 631,151,652 |
| Total increase (decrease) in net assets | 1,529,806,870 | 326,351,421 |
| Net Assets | | |
| Beginning of period | 1,615,246,330 | 1,288,894,909 |
| End of period | $3,145,053,200 | $1,615,246,330 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom 2060 Fund
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $9.87 | $11.76 | $12.20 | $11.01 | $9.78 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .13 | .19 | .17 | .13 | .16 |
| Net realized and unrealized gain (loss) | 5.43 | (1.34) | .01 | 1.46 | 1.37 |
| Total from investment operations | 5.56 | (1.15) | .18 | 1.59 | 1.53 |
| Distributions from net investment income | (.15) | (.19) | (.16) | (.13) | (.13) |
| Distributions from net realized gain | (.39) | (.55) | (.45) | (.26) | (.17) |
| Total distributions | (.54) | (.74) | (.62)B | (.40)B | (.30) |
| Net asset value, end of period | $14.89 | $9.87 | $11.76 | $12.20 | $11.01 |
| Total ReturnC | 57.57% | (10.80)% | 1.78% | 14.50% | 16.01% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .75% | .75% | .75% | .66%F | - %G |
| Expenses net of fee waivers, if any | .75% | .75% | .75% | .66%F | -% |
| Expenses net of all reductions | .75% | .75% | .75% | .66%F | -% |
| Net investment income (loss) | .99% | 1.59% | 1.46% | 1.09% | 1.54% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $891,301 | $451,002 | $367,472 | $241,896 | $116,155 |
| Portfolio turnover rateH | 18% | 25% | 16% | 11%I | 21% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
G Amount represents less than .005%.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
I The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2060 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $9.86 | $11.74 | $12.19 | $11.65 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .14 | .20 | .19 | .16 |
| Net realized and unrealized gain (loss) | 5.43 | (1.34) | (.01) | .68 |
| Total from investment operations | 5.57 | (1.14) | .18 | .84 |
| Distributions from net investment income | (.15) | (.19) | (.17) | (.15) |
| Distributions from net realized gain | (.39) | (.55) | (.45) | (.15) |
| Total distributions | (.55)C | (.74) | (.63)C | (.30) |
| Net asset value, end of period | $14.88 | $9.86 | $11.74 | $12.19 |
| Total ReturnD,E | 57.77% | (10.66)% | 1.80% | 7.19% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .64% | .64% | .64% | .65%H,I |
| Expenses net of fee waivers, if any | .64% | .64% | .64% | .65%H,I |
| Expenses net of all reductions | .64% | .64% | .64% | .65%H,I |
| Net investment income (loss) | 1.09% | 1.69% | 1.57% | 1.92%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $1,714,287 | $933,551 | $784,848 | $549,158 |
| Portfolio turnover rateJ | 18% | 25% | 16% | 11%K |
A For the period July 20, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
K The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2060 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $9.85 | $11.75 | $12.20 | $11.40 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .16 | .22 | .20 | .14 |
| Net realized and unrealized gain (loss) | 5.43 | (1.35) | –C | .96 |
| Total from investment operations | 5.59 | (1.13) | .20 | 1.10 |
| Distributions from net investment income | (.17) | (.21) | (.20) | (.15) |
| Distributions from net realized gain | (.40) | (.56) | (.45) | (.15) |
| Total distributions | (.57) | (.77) | (.65) | (.30) |
| Net asset value, end of period | $14.87 | $9.85 | $11.75 | $12.20 |
| Total ReturnD,E | 58.07% | (10.65)% | 2.05% | 9.65% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .49% | .49% | .50%H | .50%H,I |
| Expenses net of fee waivers, if any | .49% | .49% | .50%H | .50%H,I |
| Expenses net of all reductions | .49% | .49% | .50%H | .50%H,I |
| Net investment income (loss) | 1.24% | 1.84% | 1.71% | 1.44%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $539,465 | $230,693 | $136,574 | $26,888 |
| Portfolio turnover rateJ | 18% | 25% | 16% | 11%K |
A For the period June 7, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
K The portfolio turnover rate does not include the assets acquired in the merger.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2065 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Intrinsic Opportunities Fund | 8.0 |
| Fidelity Series Growth Company Fund | 8.0 |
| Fidelity Series Large Cap Stock Fund | 7.0 |
| Fidelity Series Overseas Fund | 6.8 |
| Fidelity Series International Value Fund | 6.8 |
| Fidelity Series International Growth Fund | 6.8 |
| Fidelity Series Stock Selector Large Cap Value Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 4.5 |
| Fidelity Series Opportunistic Insights Fund | 4.1 |
| | 72.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® 2065 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.02% to 0.08% 4/1/21 to 6/17/21 | | | |
| (Cost $99,998) | | 100,000 | 99,998 |
| | | Shares | Value |
|
| Domestic Equity Funds - 51.8% | | | |
| Fidelity Series All-Sector Equity Fund (a) | | 378,695 | $4,442,088 |
| Fidelity Series Blue Chip Growth Fund (a) | | 404,780 | 7,047,212 |
| Fidelity Series Commodity Strategy Fund (a) | | 1,274,266 | 6,243,904 |
| Fidelity Series Growth Company Fund (a) | | 768,268 | 17,985,145 |
| Fidelity Series Intrinsic Opportunities Fund (a) | | 836,677 | 18,055,480 |
| Fidelity Series Large Cap Stock Fund (a) | | 855,483 | 15,783,653 |
| Fidelity Series Large Cap Value Index Fund (a) | | 396,087 | 5,818,518 |
| Fidelity Series Opportunistic Insights Fund (a) | | 453,179 | 9,213,137 |
| Fidelity Series Small Cap Discovery Fund (a) | | 136,592 | 1,975,125 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 372,737 | 6,604,903 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 935,020 | 13,342,731 |
| Fidelity Series Value Discovery Fund (a) | | 644,525 | 10,260,844 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $100,812,808) | | | 116,772,740 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 427,120 | 5,454,318 |
| Fidelity Series Emerging Markets Fund (a) | | 306,052 | 3,577,752 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 1,256,075 | 32,230,875 |
| Fidelity Series International Growth Fund (a) | | 851,959 | 15,284,146 |
| Fidelity Series International Small Cap Fund (a) | | 231,995 | 4,806,934 |
| Fidelity Series International Value Fund (a) | | 1,409,001 | 15,287,661 |
| Fidelity Series Overseas Fund (a) | | 1,214,057 | 15,309,254 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $81,370,789) | | | 91,950,940 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 134,771 | 1,223,719 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 40,286 | 403,663 |
| Fidelity Series Floating Rate High Income Fund (a) | | 25,993 | 238,877 |
| Fidelity Series High Income Fund (a) | | 150,587 | 1,412,507 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 417,830 | 4,487,492 |
| Fidelity Series International Credit Fund (a) | | 4,607 | 45,977 |
| Fidelity Series Investment Grade Bond Fund (a) | | 8,267 | 95,319 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 778,493 | 6,150,093 |
| Fidelity Series Real Estate Income Fund (a) | | 77,593 | 857,406 |
| TOTAL BOND FUNDS | | | |
| (Cost $15,641,507) | | | 14,915,053 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 1,487,481 | 1,487,481 |
| Fidelity Series Short-Term Credit Fund (a) | | 30,795 | 313,186 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $1,800,341) | | | 1,800,667 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $199,725,443) | | | 225,539,398 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (95,997) |
| NET ASSETS - 100% | | | $225,443,401 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $25 |
| Total | $25 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series All-Sector Equity Fund | $770,740 | $3,204,590 | $118,999 | $361,705 | $1,296 | $584,461 | $4,442,088 |
| Fidelity Series Blue Chip Growth Fund | 1,358,432 | 6,039,477 | 938,985 | 1,244,828 | (66,016) | 654,304 | 7,047,212 |
| Fidelity Series Canada Fund | 805,631 | 3,804,886 | 187,560 | 65,010 | (5,758) | 1,037,119 | 5,454,318 |
| Fidelity Series Commodity Strategy Fund | 1,367,541 | 4,733,847 | 605,495 | 11,044 | (32,096) | 780,107 | 6,243,904 |
| Fidelity Series Emerging Markets Debt Fund | 256,863 | 964,153 | 22,447 | 29,585 | (1,034) | 26,184 | 1,223,719 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 416,777 | 2,210 | 4,126 | (11) | (10,893) | 403,663 |
| Fidelity Series Emerging Markets Fund | 483,010 | 2,578,481 | 100,539 | 29,805 | (4,461) | 621,261 | 3,577,752 |
| Fidelity Series Emerging Markets Opportunities Fund | 4,457,914 | 22,898,888 | 528,299 | 574,909 | (14,534) | 5,416,906 | 32,230,875 |
| Fidelity Series Floating Rate High Income Fund | 61,682 | 200,208 | 37,212 | 6,033 | (364) | 14,563 | 238,877 |
| Fidelity Series Government Money Market Fund 0.08% | 1,376,575 | 2,823,635 | 2,712,729 | 2,244 | -- | -- | 1,487,481 |
| Fidelity Series Growth Company Fund | 2,774,005 | 14,647,610 | 767,721 | 2,688,731 | (18,865) | 1,350,116 | 17,985,145 |
| Fidelity Series High Income Fund | 305,753 | 1,079,245 | 33,174 | 40,121 | 110 | 60,573 | 1,412,507 |
| Fidelity Series Inflation-Protected Bond Index Fund | 838,992 | 3,658,963 | 89,141 | 34,988 | 60 | 78,618 | 4,487,492 |
| Fidelity Series International Credit Fund | 21,744 | 24,917 | 1,220 | 2,934 | (18) | 554 | 45,977 |
| Fidelity Series International Growth Fund | 3,291,556 | 12,094,787 | 918,016 | 1,329,200 | (19,959) | 835,778 | 15,284,146 |
| Fidelity Series International Small Cap Fund | 794,912 | 3,334,845 | 82,689 | 23,616 | 142 | 759,724 | 4,806,934 |
| Fidelity Series International Value Fund | 3,006,424 | 10,085,650 | 755,903 | 261,940 | 23,896 | 2,927,594 | 15,287,661 |
| Fidelity Series Intrinsic Opportunities Fund | 3,247,083 | 11,980,394 | 1,862,556 | 421,373 | (11,596) | 4,702,155 | 18,055,480 |
| Fidelity Series Investment Grade Bond Fund | -- | 96,996 | 242 | 456 | (1) | (1,434) | 95,319 |
| Fidelity Series Large Cap Stock Fund | 2,891,456 | 10,882,379 | 1,298,229 | 404,000 | (6,585) | 3,314,632 | 15,783,653 |
| Fidelity Series Large Cap Value Index Fund | 788,891 | 4,298,111 | 352,774 | 74,542 | 1,648 | 1,082,642 | 5,818,518 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 961,232 | 6,286,546 | 102,848 | 293,345 | (2,413) | (992,424) | 6,150,093 |
| Fidelity Series Opportunistic Insights Fund | 1,498,051 | 7,329,916 | 145,906 | 837,323 | 5,211 | 525,865 | 9,213,137 |
| Fidelity Series Overseas Fund | 2,892,263 | 10,688,181 | 467,918 | 103,150 | (2,486) | 2,199,214 | 15,309,254 |
| Fidelity Series Real Estate Income Fund | 172,497 | 646,971 | 65,304 | 27,351 | (3,126) | 106,368 | 857,406 |
| Fidelity Series Short-Term Credit Fund | 149,735 | 294,125 | 134,049 | 3,941 | (505) | 3,880 | 313,186 |
| Fidelity Series Small Cap Discovery Fund | 346,457 | 1,262,066 | 226,533 | 31,289 | (3,661) | 596,796 | 1,975,125 |
| Fidelity Series Small Cap Opportunities Fund | 1,161,992 | 4,157,333 | 349,616 | 77,917 | 510 | 1,634,684 | 6,604,903 |
| Fidelity Series Stock Selector Large Cap Value Fund | 2,188,378 | 9,333,245 | 1,050,680 | 182,843 | (110) | 2,871,898 | 13,342,731 |
| Fidelity Series Value Discovery Fund | 1,544,072 | 7,206,545 | 631,466 | 136,124 | 3,341 | 2,138,352 | 10,260,844 |
| | $39,813,881 | $167,053,767 | $14,590,460 | $9,304,473 | $(157,385) | $33,319,597 | $225,439,400 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments | $99,998 | $-- | $99,998 | $-- |
| Domestic Equity Funds | 116,772,740 | 116,772,740 | -- | -- |
| International Equity Funds | 91,950,940 | 91,950,940 | -- | -- |
| Bond Funds | 14,915,053 | 14,915,053 | -- | -- |
| Short-Term Funds | 1,800,667 | 1,800,667 | -- | -- |
| Total Investments in Securities: | $225,539,398 | $225,439,400 | $99,998 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® 2065 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $99,998) | $99,998 | |
| Affiliated issuers (cost $199,625,445) | 225,439,400 | |
| Total Investment in Securities (cost $199,725,443) | | $225,539,398 |
| Cash | | 14,660 |
| Receivable for investments sold | | 2,337,667 |
| Receivable for fund shares sold | | 1,739,688 |
| Distributions receivable from Fidelity Central Funds | | 1 |
| Receivable for daily variation margin on futures contracts | | 2,039 |
| Total assets | | 229,633,453 |
| Liabilities | | |
| Payable for investments purchased | $3,132,991 | |
| Payable for fund shares redeemed | 944,293 | |
| Accrued management fee | 112,768 | |
| Total liabilities | | 4,190,052 |
| Net Assets | | $225,443,401 |
| Net Assets consist of: | | |
| Paid in capital | | $194,018,101 |
| Total accumulated earnings (loss) | | 31,425,300 |
| Net Assets | | $225,443,401 |
| Net Asset Value and Maximum Offering Price | | |
| Fidelity Freedom 2065 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($68,875,925 ÷ 5,255,872 shares) | | $13.10 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($113,106,718 ÷ 8,627,129 shares) | | $13.11 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($43,460,758 ÷ 3,310,203 shares) | | $13.13 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $2,008,460 |
| Interest | | 66 |
| Income from Fidelity Central Funds | | 25 |
| Total income | | 2,008,551 |
| Expenses | | |
| Management fee | $716,409 | |
| Independent trustees' fees and expenses | 262 | |
| Total expenses | | 716,671 |
| Net investment income (loss) | | 1,291,880 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | (157,385) | |
| Futures contracts | (23,312) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 7,296,013 | |
| Total net realized gain (loss) | | 7,115,316 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 33,319,597 | |
| Total change in net unrealized appreciation (depreciation) | | 33,319,597 |
| Net gain (loss) | | 40,434,913 |
| Net increase (decrease) in net assets resulting from operations | | $41,726,793 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | For the period
June 28, 2019 (commencement of operations) to March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $1,291,880 | $183,327 |
| Net realized gain (loss) | 7,115,316 | 229,886 |
| Change in net unrealized appreciation (depreciation) | 33,319,597 | (7,505,642) |
| Net increase (decrease) in net assets resulting from operations | 41,726,793 | (7,092,429) |
| Distributions to shareholders | (2,946,544) | (262,520) |
| Share transactions - net increase (decrease) | 146,850,140 | 47,167,961 |
| Total increase (decrease) in net assets | 185,630,389 | 39,813,012 |
| Net Assets | | |
| Beginning of period | 39,813,012 | – |
| End of period | $225,443,401 | $39,813,012 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom 2065 Fund
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.52 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .12 | .13 |
| Net realized and unrealized gain (loss) | 4.74 | (1.46) |
| Total from investment operations | 4.86 | (1.33) |
| Distributions from net investment income | (.13) | (.12) |
| Distributions from net realized gain | (.15) | (.03) |
| Total distributions | (.28) | (.15) |
| Net asset value, end of period | $13.10 | $8.52 |
| Total ReturnC | 57.49% | (13.60)% |
| Ratios to Average Net AssetsD,E | | |
| Expenses before reductions | .75% | .76%F,G |
| Expenses net of fee waivers, if any | .75% | .76%F,G |
| Expenses net of all reductions | .75% | .76%F,G |
| Net investment income (loss) | 1.07% | 1.71%F |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $68,876 | $13,332 |
| Portfolio turnover rateH | 13% | 33%F |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2065 Fund Class K
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.52 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .14 | .13 |
| Net realized and unrealized gain (loss) | 4.74 | (1.45) |
| Total from investment operations | 4.88 | (1.32) |
| Distributions from net investment income | (.13) | (.13) |
| Distributions from net realized gain | (.16) | (.03) |
| Total distributions | (.29) | (.16) |
| Net asset value, end of period | $13.11 | $8.52 |
| Total ReturnC | 57.72% | (13.55)% |
| Ratios to Average Net AssetsD,E | | |
| Expenses before reductions | .64% | .65%F,G |
| Expenses net of fee waivers, if any | .64% | .65%F,G |
| Expenses net of all reductions | .64% | .65%F,G |
| Net investment income (loss) | 1.18% | 1.81%F |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $113,107 | $20,387 |
| Portfolio turnover rateH | 13% | 33%F |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom 2065 Fund Class K6
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.53 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .15 | .15 |
| Net realized and unrealized gain (loss) | 4.75 | (1.46) |
| Total from investment operations | 4.90 | (1.31) |
| Distributions from net investment income | (.14) | (.13) |
| Distributions from net realized gain | (.16) | (.03) |
| Total distributions | (.30) | (.16) |
| Net asset value, end of period | $13.13 | $8.53 |
| Total ReturnC | 57.93% | (13.43)% |
| Ratios to Average Net AssetsD,E | | |
| Expenses before reductions | .49% | .50%F,G |
| Expenses net of fee waivers, if any | .49% | .50%F,G |
| Expenses net of all reductions | .49% | .50%F,G |
| Net investment income (loss) | 1.33% | 1.97%F |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $43,461 | $6,094 |
| Portfolio turnover rateH | 13% | 33%F |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Notes to Financial Statements
For the period ended March 31, 2021
1. Organization.
Fidelity Freedom Income Fund, Fidelity Freedom 2005 Fund, Fidelity Freedom 2010 Fund, Fidelity Freedom 2015 Fund, Fidelity Freedom 2020 Fund, Fidelity Freedom 2025 Fund, Fidelity Freedom 2030 Fund, Fidelity Freedom 2035 Fund, Fidelity Freedom 2040 Fund, Fidelity Freedom 2045 Fund, Fidelity Freedom 2050 Fund, Fidelity Freedom 2055 Fund, Fidelity Freedom 2060 Fund and Fidelity Freedom 2065 Fund (the Funds) are funds of Fidelity Aberdeen Street Trust (the Trust). The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware statutory trust. Each Fund is authorized to issue an unlimited number of shares. Each Fund offers Fidelity Freedom, Class K and Class K6 shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class.
2. Investments in Fidelity Central Funds.
The Funds invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Funds' Schedules of Investments list each of the Fidelity Central Funds held as of period end, if any, as an investment of each Fund, but do not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, each Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
The Money Market Central Funds seek preservation of capital and current income and are managed by the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date ranged from less than .005% to .01%.
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds, which are not covered by the Funds' Report of Independent Registered Public Accounting Firm, are available on the SEC website or upon request.
3. Significant Accounting Policies.
Each Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. Each Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of each Fund:
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of each Fund's investments to the Fair Value Committee (the Committee) established by each Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, each Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees each Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing each Fund's investments and ratifies the fair value determinations of the Committee. Each Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
- Level 1 – quoted prices in active markets for identical investments
- Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
- Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value each Fund's investments by major category are as follows. Investments in open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy. Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances. The aggregate value of investments by input level as of March 31, 2021 is included at the end of each Fund's Schedule of Investments.
Investment Transactions and Income. For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Income and capital gain distributions from any underlying mutual funds or exchange-traded funds (ETFs) are recorded on the ex-dividend date. Interest income is accrued as earned. Interest income includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.
Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of each Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of each Fund. Each class differs with respect to fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of each Fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds (ETFs). Although not included in each Fund's expenses, each Fund indirectly bears its proportionate share of any underlying mutual funds or exchange-traded funds (ETFs) expenses through the impact of these expenses on each underlying mutual fund's or exchange-traded fund's (ETFs) NAV. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Deferred Trustee Compensation. Under a Deferred Compensation Plan (the Plan) for certain Funds, certain independent Trustees have elected to defer receipt of a portion of their annual compensation. Deferred amounts are invested in affiliated mutual funds, are marked-to-market and remain in a fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees presented below are included in the accompanying Statement of Assets and Liabilities in other receivables and other payables and accrued expenses, as applicable.
| Fidelity Freedom 2015 Fund | $ 1,516 |
| Fidelity Freedom 2020 Fund | 297,068 |
| Fidelity Freedom 2025 Fund | 293,214 |
| Fidelity Freedom 2030 Fund | 283,072 |
| Fidelity Freedom 2035 Fund | 132,822 |
| Fidelity Freedom 2040 Fund | 111,100 |
| Fidelity Freedom 2045 Fund | 107,107 |
| Fidelity Freedom 2050 Fund | 60,405 |
Income Tax Information and Distributions to Shareholders. Each year, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. As of March 31, 2021, each Fund did not have any unrecognized tax benefits in the financial statements; nor is each Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. Each Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
Book-tax differences are primarily due to the short-term gain distributions from the Underlying Funds, futures contracts, deferred trustees compensation and losses deferred due to wash sales and excise tax regulations.
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows for each Fund:
| | Tax cost | Gross unrealized appreciation | Gross unrealized depreciation | Net unrealized appreciation (depreciation) |
| Fidelity Freedom Income Fund | $2,985,071,921 | $347,853,591 | $(13,489,136) | $334,364,455 |
| Fidelity Freedom 2005 Fund | 975,716,069 | 109,226,190 | (6,285,179) | 102,941,011 |
| Fidelity Freedom 2010 Fund | 4,841,791,754 | 765,430,025 | (25,823,888) | 739,606,137 |
| Fidelity Freedom 2015 Fund | 6,971,463,782 | 1,441,362,225 | (41,133,507) | 1,400,228,718 |
| Fidelity Freedom 2020 Fund | 21,266,118,974 | 5,153,310,326 | (127,326,108) | 5,025,984,218 |
| Fidelity Freedom 2025 Fund | 25,635,003,244 | 6,415,157,025 | (191,682,447) | 6,223,474,578 |
| Fidelity Freedom 2030 Fund | 30,531,485,380 | 8,680,390,168 | (241,463,927) | 8,438,926,241 |
| Fidelity Freedom 2035 Fund | 21,802,315,690 | 7,269,569,785 | (180,063,757) | 7,089,506,028 |
| Fidelity Freedom 2040 Fund | 21,211,696,711 | 8,067,288,677 | (137,474,700) | 7,929,813,977 |
| Fidelity Freedom 2045 Fund | 14,266,045,669 | 5,056,699,205 | (92,589,961) | 4,964,109,244 |
| Fidelity Freedom 2050 Fund | 12,636,148,162 | 4,380,560,292 | (83,587,590) | 4,296,972,702 |
| Fidelity Freedom 2055 Fund | 6,822,550,122 | 1,835,678,312 | (50,460,737) | 1,785,217,575 |
| Fidelity Freedom 2060 Fund | 2,611,230,667 | 555,399,075 | (19,995,327) | 535,403,748 |
| Fidelity Freedom 2065 Fund | 200,124,692 | 27,784,796 | (2,370,090) | 25,414,706 |
The tax-based components of distributable earnings as of period end were as follows for each Fund:
| | Undistributed ordinary income | Undistributed long-term capital gain | Net unrealized appreciation (depreciation) on securities and other investments |
| Fidelity Freedom Income Fund | $2,465,082 | $56,899,421 | $334,364,455 |
| Fidelity Freedom 2005 Fund | 1,617,412 | 24,768,186 | 102,941,011 |
| Fidelity Freedom 2010 Fund | 5,782,433 | 184,768,555 | 739,606,137 |
| Fidelity Freedom 2015 Fund | 6,494,557 | 326,490,617 | 1,400,228,718 |
| Fidelity Freedom 2020 Fund | 15,320,964 | 1,149,772,853 | 5,025,984,218 |
| Fidelity Freedom 2025 Fund | 12,673,112 | 1,160,981,283 | 6,223,474,578 |
| Fidelity Freedom 2030 Fund | 6,020,897 | 1,577,591,904 | 8,438,926,241 |
| Fidelity Freedom 2035 Fund | 1 | 1,252,072,379 | 7,089,506,028 |
| Fidelity Freedom 2040 Fund | – | 1,343,382,141 | 7,929,813,977 |
| Fidelity Freedom 2045 Fund | – | 867,061,838 | 4,964,109,244 |
| Fidelity Freedom 2050 Fund | – | 751,840,756 | 4,296,972,702 |
| Fidelity Freedom 2055 Fund | – | 369,330,057 | 1,785,217,575 |
| Fidelity Freedom 2060 Fund | – | 122,666,554 | 535,403,748 |
| Fidelity Freedom 2065 Fund | – | 6,115,545 | 25,414,706 |
Certain of the Funds intend to elect to defer to the next fiscal year ordinary losses recognized during the period January 1, 2021 to March 31, 2021. Loss deferrals were as follows:
| | Ordinary Income |
| Fidelity Freedom 2035 Fund | $8,788,892 |
| Fidelity Freedom 2040 Fund | 22,619,949 |
| Fidelity Freedom 2045 Fund | 14,365,726 |
| Fidelity Freedom 2050 Fund | 12,643,267 |
| Fidelity Freedom 2055 Fund | 6,311,154 |
| Fidelity Freedom 2060 Fund | 1,856,996 |
| Fidelity Freedom 2065 Fund | 104,952 |
The tax character of distributions paid was as follows:
| March 31, 2021 | | | |
| | Ordinary Income | Long-term Capital Gains | Total |
| Fidelity Freedom Income Fund | $71,312,815 | $71,004,971 | $142,317,786 |
| Fidelity Freedom 2005 Fund | 23,003,522 | 23,356,505 | 46,360,027 |
| Fidelity Freedom 2010 Fund | 116,009,370 | 214,165,962 | 330,175,332 |
| Fidelity Freedom 2015 Fund | 165,709,981 | 393,677,857 | 559,387,838 |
| Fidelity Freedom 2020 Fund | 487,538,847 | 1,300,136,260 | 1,787,675,107 |
| Fidelity Freedom 2025 Fund | 532,995,959 | 1,202,088,907 | 1,735,084,866 |
| Fidelity Freedom 2030 Fund | 640,118,252 | 1,640,388,981 | 2,280,507,233 |
| Fidelity Freedom 2035 Fund | 395,174,007 | 1,192,499,465 | 1,587,673,472 |
| Fidelity Freedom 2040 Fund | 358,962,734 | 1,172,440,253 | 1,531,402,987 |
| Fidelity Freedom 2045 Fund | 235,522,935 | 652,611,812 | 888,134,747 |
| Fidelity Freedom 2050 Fund | 204,407,623 | 561,391,982 | 765,799,605 |
| Fidelity Freedom 2055 Fund | 100,721,959 | 225,148,678 | 325,870,637 |
| Fidelity Freedom 2060 Fund | 35,889,709 | 62,945,879 | 98,835,588 |
| Fidelity Freedom 2065 Fund | 1,907,572 | 1,038,972 | 2,946,544 |
| March 31, 2020 | | | |
| | Ordinary Income | Long-term Capital Gains | Total |
| Fidelity Freedom Income Fund | $74,452,842 | $48,127,654 | $122,580,496 |
| Fidelity Freedom 2005 Fund | 22,647,361 | 21,353,117 | 44,000,478 |
| Fidelity Freedom 2010 Fund | 130,318,508 | 195,859,522 | 326,178,030 |
| Fidelity Freedom 2015 Fund | 193,391,587 | 378,348,563 | 571,740,150 |
| Fidelity Freedom 2020 Fund | 617,418,507 | 1,161,684,273 | 1,779,102,780 |
| Fidelity Freedom 2025 Fund | 614,182,410 | 1,105,256,122 | 1,719,438,532 |
| Fidelity Freedom 2030 Fund | 689,868,781 | 1,585,765,958 | 2,275,634,739 |
| Fidelity Freedom 2035 Fund | 445,967,119 | 1,143,759,038 | 1,589,726,157 |
| Fidelity Freedom 2040 Fund | 446,627,446 | 1,141,361,550 | 1,587,988,996 |
| Fidelity Freedom 2045 Fund | 264,364,694 | 703,101,131 | 967,465,825 |
| Fidelity Freedom 2050 Fund | 231,178,276 | 600,607,111 | 831,785,387 |
| Fidelity Freedom 2055 Fund | 107,352,866 | 257,354,518 | 364,707,384 |
| Fidelity Freedom 2060 Fund | 31,895,828 | 62,973,739 | 94,869,567 |
| Fidelity Freedom 2065 Fund(a) | 240,602 | 21,918 | 262,520 |
(a) For the period June 28, 2019 (commencement of operations) to March 31,2020.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Funds' investment objective allows the Funds to enter into various types of derivative contracts, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Funds used derivatives to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Funds may not achieve their objectives.
The Funds' use of derivatives increased or decreased their exposure to the following risk:
| Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
|
The Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Funds will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Funds. Counterparty credit risk related to exchange-traded futures contracts may be mitigated by the protection provided by the exchange on which they trade.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Funds used futures contracts to manage their exposure to the stock market.
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities and U.S. government securities, are noted in the table below.
| | Purchases ($) | Sales ($) |
| Fidelity Freedom Income Fund | 695,277,799 | 746,359,206 |
| Fidelity Freedom 2005 Fund | 310,999,710 | 283,878,765 |
| Fidelity Freedom 2010 Fund | 1,295,594,963 | 1,493,863,493 |
| Fidelity Freedom 2015 Fund | 2,058,625,396 | 2,442,614,575 |
| Fidelity Freedom 2020 Fund | 6,361,574,469 | 8,195,670,399 |
| Fidelity Freedom 2025 Fund | 7,957,275,167 | 7,347,657,529 |
| Fidelity Freedom 2030 Fund | 9,897,221,840 | 8,982,595,760 |
| Fidelity Freedom 2035 Fund | 6,944,597,739 | 5,891,308,097 |
| Fidelity Freedom 2040 Fund | 6,126,138,695 | 5,366,125,511 |
| Fidelity Freedom 2045 Fund | 4,337,886,684 | 3,371,996,389 |
| Fidelity Freedom 2050 Fund | 3,917,611,448 | 2,930,273,400 |
| Fidelity Freedom 2055 Fund | 2,296,610,383 | 1,454,231,779 |
| Fidelity Freedom 2060 Fund | 1,116,402,545 | 421,677,652 |
| Fidelity Freedom 2065 Fund | 167,053,767 | 14,590,460 |
6. Fees and Other Transactions with Affiliates.
Management Fee and Expense Contract. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Funds with investment management related services. Under the management contract, each Class of each Fund pays a monthly management fee that is set at an annual rate by referring to each Fund's target date, indicated by its name, such that the management fee rate applicable to each Class of each Fund is reduced as the fund approaches, and then passes, its target date. In addition, under the management contract, the investment adviser pays all ordinary operating expenses of each Fund, except fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses. For each Fund, with the exception of Fidelity Freedom 2065 Fund, the management fee is reduced by an amount equal to the fees and expenses paid by each Fund to the independent Trustees. For the reporting period, the total annual management fee rate for each Class of each Fund was as follows:
| | Annual % of Class-Level Average Net Assets (Fidelity Freedom Class) | Annual % of Class-Level Average Net Assets
(Classes K, K6) |
| Fidelity Freedom Income Fund | .465% | .415% |
| Fidelity Freedom 2005 Fund | .465% | .415% |
| Fidelity Freedom 2010 Fund | .508% | .448% |
| Fidelity Freedom 2015 Fund | .550% | .482% |
| Fidelity Freedom 2020 Fund | .593% | .517% |
| Fidelity Freedom 2025 Fund | .635% | .552% |
| Fidelity Freedom 2030 Fund | .678% | .587% |
| Fidelity Freedom 2035 Fund | .720% | .622% |
| Fidelity Freedom 2040 Fund | .746% | .643% |
| Fidelity Freedom 2045 Fund | .746% | .643% |
| Fidelity Freedom 2050 Fund | .746% | .643% |
| Fidelity Freedom 2055 Fund | .746% | .643% |
| Fidelity Freedom 2060 Fund | .746% | .643% |
| Fidelity Freedom 2065 Fund | .746% | .643% |
Under the expense contract, the investment adviser pays class-level expenses for Class K6 of each Fund as necessary so that Class K6 total expenses do not exceed certain amounts of Class K6 average net assets on an annual basis with certain exceptions, as noted in the following table:
| | Annual % of Class-Level Average Net Assets (Class K6) |
| Fidelity Freedom Income Fund | .365% |
| Fidelity Freedom 2005 Fund | .365% |
| Fidelity Freedom 2010 Fund | .384% |
| Fidelity Freedom 2015 Fund | .404% |
| Fidelity Freedom 2020 Fund | .423% |
| Fidelity Freedom 2025 Fund | .443% |
| Fidelity Freedom 2030 Fund | .462% |
| Fidelity Freedom 2035 Fund | .481% |
| Fidelity Freedom 2040 Fund | .493% |
| Fidelity Freedom 2045 Fund | .493% |
| Fidelity Freedom 2050 Fund | .493% |
| Fidelity Freedom 2055 Fund | .493% |
| Fidelity Freedom 2060 Fund | .493% |
| Fidelity Freedom 2065 Fund | .493% |
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.
Other. During the period, the investment adviser reimbursed the Funds for certain losses, which are included in Net Realized Gain (Loss) in each Fund's accompanying Statement of Operations, as follows:
| | Amount |
| Fidelity Freedom 2010 Fund | $ 508 |
| Fidelity Freedom 2015 Fund | 4 |
| Fidelity Freedom 2025 Fund | 698 |
| Fidelity Freedom 2035 Fund | 45 |
7. Expense Reductions.
Through arrangements with each applicable Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce each applicable Fund's or class' expenses. All of the applicable expense reductions are noted in the table below.
| | Custodian credits |
| Fidelity Freedom Income Fund | $131 |
| Fidelity Freedom 2005 Fund | 104 |
| Fidelity Freedom 2010 Fund | 69 |
| Fidelity Freedom 2015 Fund | 89 |
| Fidelity Freedom 2020 Fund | 131 |
| Fidelity Freedom 2025 Fund | 21 |
| Fidelity Freedom 2030 Fund | 25 |
| Fidelity Freedom 2035 Fund | 49 |
| Fidelity Freedom 2040 Fund | 39 |
| Fidelity Freedom 2045 Fund | 37 |
| Fidelity Freedom 2050 Fund | 45 |
| Fidelity Freedom 2055 Fund | 65 |
| Fidelity Freedom 2060 Fund | 89 |
8. Distributions to Shareholders.
Distributions to shareholders of each class were as follows:
| | Year ended
March 31, 2021 | Year ended
March 31, 2020 (a) |
| Fidelity Freedom Income Fund | | |
| Distributions to shareholders | | |
| Fidelity Freedom Income Fund | $85,036,870 | $72,007,586 |
| Class K | 47,068,955 | 43,479,313 |
| Class K6 | 10,211,961 | 7,093,597 |
| Total | $142,317,786 | $122,580,496 |
| Fidelity Freedom 2005 Fund | | |
| Distributions to shareholders | | |
| Fidelity Freedom 2005 Fund | $25,990,849 | $25,491,635 |
| Class K | 16,551,868 | 15,775,254 |
| Class K6 | 3,817,310 | 2,733,589 |
| Total | $46,360,027 | $44,000,478 |
| Fidelity Freedom 2010 Fund | | |
| Distributions to shareholders | | |
| Fidelity Freedom 2010 Fund | $220,059,856 | $211,793,549 |
| Class K | 91,748,163 | 99,095,225 |
| Class K6 | 18,367,313 | 15,289,256 |
| Total | $330,175,332 | $326,178,030 |
| Fidelity Freedom 2015 Fund | | |
| Distributions to shareholders | | |
| Fidelity Freedom 2015 Fund | $323,873,976 | $324,113,832 |
| Class K | 187,564,926 | 207,703,580 |
| Class K6 | 47,948,936 | 39,922,738 |
| Total | $559,387,838 | $571,740,150 |
| Fidelity Freedom 2020 Fund | | |
| Distributions to shareholders | | |
| Fidelity Freedom 2020 Fund | $855,393,315 | $815,401,294 |
| Class K | 752,564,869 | 815,964,865 |
| Class K6 | 179,716,923 | 147,736,621 |
| Total | $1,787,675,107 | $1,779,102,780 |
| Fidelity Freedom 2025 Fund | | |
| Distributions to shareholders | | |
| Fidelity Freedom 2025 Fund | $704,972,948 | $697,439,181 |
| Class K | 801,066,260 | 836,842,165 |
| Class K6 | 229,045,658 | 185,157,186 |
| Total | $1,735,084,866 | $1,719,438,532 |
| Fidelity Freedom 2030 Fund | | |
| Distributions to shareholders | | |
| Fidelity Freedom 2030 Fund | $939,854,666 | $923,094,479 |
| Class K | 1,055,755,784 | 1,123,248,324 |
| Class K6 | 284,896,783 | 229,291,936 |
| Total | $2,280,507,233 | $2,275,634,739 |
| Fidelity Freedom 2035 Fund | | |
| Distributions to shareholders | | |
| Fidelity Freedom 2035 Fund | $596,190,670 | $596,847,384 |
| Class K | 758,932,410 | 803,187,819 |
| Class K6 | 232,550,392 | 189,690,955 |
| Total | $1,587,673,472 | $1,589,726,158 |
| Fidelity Freedom 2040 Fund | | |
| Distributions to shareholders | | |
| Fidelity Freedom 2040 Fund | $583,860,791 | $600,503,686 |
| Class K | 737,443,903 | 813,339,526 |
| Class K6 | 210,098,293 | 174,145,784 |
| Total | $1,531,402,987 | $1,587,988,996 |
| Fidelity Freedom 2045 Fund | | |
| Distributions to shareholders | | |
| Fidelity Freedom 2045 Fund | $280,540,287 | $306,477,247 |
| Class K | 463,825,379 | 534,743,331 |
| Class K6 | 143,769,081 | 126,245,248 |
| Total | $888,134,747 | $967,465,826 |
| Fidelity Freedom 2050 Fund | | |
| Distributions to shareholders | | |
| Fidelity Freedom 2050 Fund | $237,431,913 | $258,697,557 |
| Class K | 411,733,439 | 471,956,025 |
| Class K6 | 116,634,253 | 101,131,805 |
| Total | $765,799,605 | $831,785,387 |
| Fidelity Freedom 2055 Fund | | |
| Distributions to shareholders | | |
| Fidelity Freedom 2055 Fund | $92,585,422 | $104,523,244 |
| Class K | 181,353,194 | 214,235,275 |
| Class K6 | 51,932,021 | 45,948,865 |
| Total | $325,870,637 | $364,707,384 |
| Fidelity Freedom 2060 Fund | | |
| Distributions to shareholders | | |
| Fidelity Freedom 2060 Fund | $26,889,141 | $26,492,028 |
| Class K | 56,244,575 | 56,366,020 |
| Class K6 | 15,701,872 | 12,011,519 |
| Total | $98,835,588 | $94,869,567 |
| Fidelity Freedom 2065 Fund | | |
| Distributions to shareholders | | |
| Fidelity Freedom 2065 Fund | $904,197 | $95,175 |
| Class K | 1,507,870 | 124,339 |
| Class K6 | 534,477 | 43,006 |
| Total | $2,946,544 | $262,520 |
(a) For Fidelity Freedom 2065 Fund, prior fiscal year distributions are for the period June 28, 2019 (commencement of operations) to March 31, 2020.
9. Share Transactions.
Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between affiliated funds:
| | Shares | Shares | Dollars | Dollars |
| | Year ended March 31, 2021 | Year endedMarch 31, 2020 (a) | Year ended March 31, 2021 | Year endedMarch 31, 2020 (a) |
| Fidelity Freedom Income Fund | | | | |
| Fidelity Freedom Income Fund | | | | |
| Shares sold | 31,164,338 | 26,121,699 | $374,531,405 | $303,147,512 |
| Reinvestment of distributions | 7,001,613 | 6,066,578 | 83,147,746 | 70,508,362 |
| Shares redeemed | (36,010,413) | (40,236,864) | (431,019,214) | (463,467,479) |
| Net increase (decrease) | 2,155,538 | (8,048,587) | $26,659,937 | $(89,811,605) |
| Class K | | | | |
| Shares sold | 25,686,249 | 28,729,451 | $307,049,507 | $331,959,653 |
| Reinvestment of distributions | 3,972,133 | 3,749,746 | 47,050,348 | 43,479,313 |
| Shares redeemed | (37,861,740) | (46,581,593) | (451,620,927) | (538,605,858) |
| Net increase (decrease) | (8,203,358) | (14,102,396) | $(97,521,072) | $(163,166,892) |
| Class K6 | | | | |
| Shares sold | 8,530,893 | 8,831,116 | $102,309,883 | $102,603,019 |
| Reinvestment of distributions | 860,536 | 611,102 | 10,211,961 | 7,093,596 |
| Shares redeemed | (7,244,034) | (6,158,367) | (86,822,330) | (70,913,009) |
| Net increase (decrease) | 2,147,395 | 3,283,851 | $25,699,514 | $38,783,606 |
| Fidelity Freedom 2005 Fund | | | | |
| Fidelity Freedom 2005 Fund | | | | |
| Shares sold | 11,500,610 | 8,912,259 | $147,671,059 | $109,473,280 |
| Reinvestment of distributions | 2,029,580 | 2,045,322 | 25,654,554 | 25,171,128 |
| Shares redeemed | (10,800,390) | (11,674,623) | (138,461,321) | (143,427,976) |
| Net increase (decrease) | 2,729,800 | (717,042) | $34,864,292 | $(8,783,568) |
| Class K | | | | |
| Shares sold | 11,640,211 | 13,255,967 | $147,069,138 | $161,507,060 |
| Reinvestment of distributions | 1,312,734 | 1,283,723 | 16,551,868 | 15,775,254 |
| Shares redeemed | (14,638,197) | (14,809,527) | (186,198,235) | (180,732,126) |
| Net increase (decrease) | (1,685,252) | (269,837) | $(22,577,229) | $(3,449,812) |
| Class K6 | | | | |
| Shares sold | 3,998,110 | 4,347,669 | $50,692,389 | $53,376,611 |
| Reinvestment of distributions | 302,076 | 222,358 | 3,817,310 | 2,733,589 |
| Shares redeemed | (3,089,579) | (2,107,046) | (39,192,543) | (25,611,844) |
| Net increase (decrease) | 1,210,607 | 2,462,981 | $15,317,156 | $30,498,356 |
| Fidelity Freedom 2010 Fund | | | | |
| Fidelity Freedom 2010 Fund | | | | |
| Shares sold | 25,337,398 | 20,894,956 | $406,499,604 | $322,067,009 |
| Reinvestment of distributions | 13,798,998 | 13,467,359 | 215,480,168 | 207,961,251 |
| Shares redeemed | (36,380,079) | (47,396,893) | (578,016,747) | (727,176,694) |
| Net increase (decrease) | 2,756,317 | (13,034,578) | $43,963,025 | $(197,148,434) |
| Class K | | | | |
| Shares sold | 14,541,138 | 17,657,853 | $229,705,543 | $272,197,498 |
| Reinvestment of distributions | 5,892,820 | 6,430,073 | 91,748,164 | 99,095,226 |
| Shares redeemed | (32,567,182) | (48,490,077) | (515,115,278) | (748,211,975) |
| Net increase (decrease) | (12,133,224) | (24,402,151) | $(193,661,571) | $(376,919,251) |
| Class K6 | | | | |
| Shares sold | 7,454,131 | 8,749,864 | $118,779,596 | $135,382,945 |
| Reinvestment of distributions | 1,179,442 | 992,761 | 18,367,313 | 15,289,256 |
| Shares redeemed | (7,099,734) | (5,642,318) | (112,770,478) | (86,333,102) |
| Net increase (decrease) | 1,533,839 | 4,100,307 | $24,376,431 | $64,339,099 |
| Fidelity Freedom 2015 Fund | | | | |
| Fidelity Freedom 2015 Fund | | | | |
| Shares sold | 53,916,620 | 44,976,552 | $712,539,975 | $571,738,724 |
| Reinvestment of distributions | 25,059,163 | 25,205,665 | 319,660,991 | 320,413,116 |
| Shares redeemed | (73,496,968) | (98,458,775) | (956,484,715) | (1,239,718,173) |
| Net increase (decrease) | 5,478,815 | (28,276,558) | $75,716,251 | $(347,566,333) |
| Class K | | | | |
| Shares sold | 27,461,789 | 38,083,926 | $356,911,518 | $483,359,504 |
| Reinvestment of distributions | 14,748,644 | 16,367,820 | 187,564,925 | 207,703,581 |
| Shares redeemed | (71,683,768) | (109,548,479) | (930,116,535) | (1,386,895,050) |
| Net increase (decrease) | (29,473,335) | (55,096,733) | $(385,640,092) | $(695,831,965) |
| Class K6 | | | | |
| Shares sold | 18,811,966 | 23,243,423 | $245,126,067 | $296,603,521 |
| Reinvestment of distributions | 3,760,022 | 3,148,572 | 47,948,936 | 39,922,738 |
| Shares redeemed | (16,659,731) | (16,133,607) | (217,361,848) | (203,711,568) |
| Net increase (decrease) | 5,912,257 | 10,258,388 | $75,713,155 | $132,814,691 |
| Fidelity Freedom 2020 Fund | | | | |
| Fidelity Freedom 2020 Fund | | | | |
| Shares sold | 156,559,208 | 139,690,923 | $2,617,346,260 | $2,216,584,182 |
| Reinvestment of distributions | 52,465,114 | 50,724,965 | 844,596,826 | 806,638,619 |
| Shares redeemed | (198,728,102) | (226,315,748) | (3,265,405,195) | (3,555,625,580) |
| Net increase (decrease) | 10,296,220 | (35,899,860) | $196,537,891 | $(532,402,779) |
| Class K | | | | |
| Shares sold | 100,937,518 | 132,922,791 | $1,652,612,571 | $2,101,196,756 |
| Reinvestment of distributions | 46,920,875 | 51,419,484 | 752,519,883 | 815,964,865 |
| Shares redeemed | (250,592,644) | (345,835,663) | (4,108,783,899) | (5,463,952,542) |
| Net increase (decrease) | (102,734,251) | (161,493,388) | $(1,703,651,445) | $(2,546,790,921) |
| Class K6 | | | | |
| Shares sold | 53,711,108 | 63,944,114 | $890,607,711 | $1,017,603,052 |
| Reinvestment of distributions | 11,175,514 | 9,303,329 | 179,716,923 | 147,736,622 |
| Shares redeemed | (59,540,884) | (41,894,795) | (983,895,026) | (657,395,250) |
| Net increase (decrease) | 5,345,738 | 31,352,648 | $86,429,608 | $507,944,424 |
| Fidelity Freedom 2025 Fund | | | | |
| Fidelity Freedom 2025 Fund | | | | |
| Shares sold | 210,337,805 | 168,609,148 | $3,149,497,251 | $2,342,236,834 |
| Reinvestment of distributions | 48,505,977 | 49,663,947 | 698,301,471 | 692,028,162 |
| Shares redeemed | (196,693,866) | (206,991,868) | (2,878,418,032) | (2,840,042,775) |
| Net increase (decrease) | 62,149,916 | 11,281,227 | $969,380,690 | $194,222,221 |
| Class K | | | | |
| Shares sold | 182,126,282 | 209,650,490 | $2,666,904,348 | $2,907,198,345 |
| Reinvestment of distributions | 55,805,130 | 60,178,720 | 800,942,777 | 836,842,165 |
| Shares redeemed | (295,182,498) | (335,238,445) | (4,304,180,205) | (4,630,919,320) |
| Net increase (decrease) | (57,251,086) | (65,409,235) | $(836,333,080) | $(886,878,810) |
| Class K6 | | | | |
| Shares sold | 94,729,160 | 98,473,970 | $1,404,293,318 | $1,371,151,544 |
| Reinvestment of distributions | 15,887,217 | 13,293,101 | 229,045,657 | 185,157,186 |
| Shares redeemed | (74,204,850) | (51,551,759) | (1,095,696,606) | (707,624,891) |
| Net increase (decrease) | 36,411,527 | 60,215,312 | $537,642,369 | $848,683,839 |
| Fidelity Freedom 2030 Fund | | | | |
| Fidelity Freedom 2030 Fund | | | | |
| Shares sold | 173,411,890 | 134,513,465 | $3,216,373,537 | $2,312,057,494 |
| Reinvestment of distributions | 52,410,618 | 52,952,294 | 930,668,891 | 914,971,406 |
| Shares redeemed | (164,912,233) | (155,274,636) | (2,993,567,133) | (2,638,655,453) |
| Net increase (decrease) | 60,910,275 | 32,191,123 | $1,153,475,295 | $588,373,447 |
| Class K | | | | |
| Shares sold | 155,368,244 | 176,534,632 | $2,817,242,675 | $3,029,214,168 |
| Reinvestment of distributions | 59,622,779 | 65,114,314 | 1,055,636,740 | 1,123,248,324 |
| Shares redeemed | (260,764,551) | (294,936,006) | (4,691,208,655) | (5,062,227,218) |
| Net increase (decrease) | (45,773,528) | (53,287,060) | $(818,329,240) | $(909,764,726) |
| Class K6 | | | | |
| Shares sold | 83,168,181 | 84,825,844 | $1,536,798,281 | $1,468,459,704 |
| Reinvestment of distributions | 16,003,724 | 13,260,008 | 284,896,783 | 229,291,937 |
| Shares redeemed | (62,222,431) | (37,055,380) | (1,145,636,684) | (629,252,755) |
| Net increase (decrease) | 36,949,474 | 61,030,472 | $676,058,380 | $1,068,498,886 |
| Fidelity Freedom 2035 Fund | | | | |
| Fidelity Freedom 2035 Fund | | | | |
| Shares sold | 143,182,206 | 113,741,577 | $2,261,194,436 | $1,630,766,349 |
| Reinvestment of distributions | 39,628,198 | 40,976,204 | 591,728,084 | 592,915,749 |
| Shares redeemed | (129,049,743) | (119,576,927) | (1,977,602,251) | (1,699,632,448) |
| Net increase (decrease) | 53,760,661 | 35,140,854 | $875,320,269 | $524,049,650 |
| Class K | | | | |
| Shares sold | 147,842,978 | 168,867,390 | $2,260,213,524 | $2,419,916,667 |
| Reinvestment of distributions | 50,990,578 | 55,644,661 | 758,909,161 | 803,187,819 |
| Shares redeemed | (234,136,246) | (244,892,441) | (3,571,499,917) | (3,518,499,555) |
| Net increase (decrease) | (35,302,690) | (20,380,390) | $(552,377,232) | $(295,395,069) |
| Class K6 | | | | |
| Shares sold | 80,094,228 | 83,491,582 | $1,254,281,237 | $1,205,269,478 |
| Reinvestment of distributions | 15,511,106 | 13,100,559 | 232,550,392 | 189,690,955 |
| Shares redeemed | (58,219,476) | (36,490,371) | (906,044,076) | (518,046,774) |
| Net increase (decrease) | 37,385,858 | 60,101,770 | $580,787,553 | $876,913,659 |
| Fidelity Freedom 2040 Fund | | | | |
| Fidelity Freedom 2040 Fund | | | | |
| Shares sold | 178,108,225 | 148,207,317 | $1,975,797,076 | $1,480,583,200 |
| Reinvestment of distributions | 55,500,372 | 58,986,229 | 578,162,864 | 594,906,221 |
| Shares redeemed | (178,100,857) | (161,849,253) | (1,919,969,505) | (1,606,161,212) |
| Net increase (decrease) | 55,507,740 | 45,344,293 | $633,990,435 | $469,328,209 |
| Class K | | | | |
| Shares sold | 194,916,567 | 228,513,475 | $2,094,984,471 | $2,280,569,001 |
| Reinvestment of distributions | 71,038,067 | 80,764,580 | 737,436,312 | 813,339,526 |
| Shares redeemed | (329,404,938) | (357,963,845) | (3,513,599,136) | (3,601,591,470) |
| Net increase (decrease) | (63,450,304) | (48,685,790) | $(681,178,353) | $(507,682,943) |
| Class K6 | | | | |
| Shares sold | 105,216,070 | 115,285,916 | $1,163,959,609 | $1,161,910,139 |
| Reinvestment of distributions | 20,093,501 | 17,249,575 | 210,098,293 | 174,145,784 |
| Shares redeemed | (77,466,294) | (48,956,074) | (853,646,770) | (486,362,405) |
| Net increase (decrease) | 47,843,277 | 83,579,417 | $520,411,132 | $849,693,518 |
| Fidelity Freedom 2045 Fund | | | | |
| Fidelity Freedom 2045 Fund | | | | |
| Shares sold | 113,233,317 | 92,834,825 | $1,435,097,348 | $1,052,711,401 |
| Reinvestment of distributions | 23,501,888 | 26,536,232 | 277,774,070 | 303,790,239 |
| Shares redeemed | (93,248,351) | (85,651,233) | (1,146,724,485) | (969,131,560) |
| Net increase (decrease) | 43,486,854 | 33,719,824 | $566,146,933 | $387,370,080 |
| Class K | | | | |
| Shares sold | 139,887,703 | 169,535,052 | $1,708,586,045 | $1,924,827,353 |
| Reinvestment of distributions | 39,359,151 | 46,786,003 | 463,816,140 | 534,743,331 |
| Shares redeemed | (207,058,952) | (218,505,191) | (2,538,068,424) | (2,496,482,111) |
| Net increase (decrease) | (27,812,098) | (2,184,136) | $(365,666,239) | $(36,911,427) |
| Class K6 | | | | |
| Shares sold | 75,625,592 | 83,338,110 | $954,196,507 | $949,921,676 |
| Reinvestment of distributions | 12,109,027 | 11,022,557 | 143,769,081 | 126,245,247 |
| Shares redeemed | (50,788,422) | (33,203,180) | (636,628,389) | (375,039,791) |
| Net increase (decrease) | 36,946,197 | 61,157,487 | $461,337,199 | $701,127,132 |
| Fidelity Freedom 2050 Fund | | | | |
| Fidelity Freedom 2050 Fund | | | | |
| Shares sold | 97,188,366 | 86,803,107 | $1,232,319,301 | $990,290,176 |
| Reinvestment of distributions | 19,700,871 | 22,134,695 | 234,240,349 | 255,338,403 |
| Shares redeemed | (84,416,356) | (77,352,469) | (1,045,778,100) | (882,546,280) |
| Net increase (decrease) | 32,472,881 | 31,585,333 | $420,781,550 | $363,082,299 |
| Class K | | | | |
| Shares sold | 139,683,126 | 164,631,759 | $1,716,878,084 | $1,876,495,556 |
| Reinvestment of distributions | 34,728,101 | 40,989,580 | 411,729,817 | 471,956,025 |
| Shares redeemed | (185,066,773) | (192,383,993) | (2,274,261,301) | (2,214,961,322) |
| Net increase (decrease) | (10,655,546) | 13,237,346 | $(145,653,400) | $133,490,259 |
| Class K6 | | | | |
| Shares sold | 69,193,076 | 69,709,805 | $880,114,497 | $800,271,011 |
| Reinvestment of distributions | 9,720,979 | 8,752,663 | 116,634,253 | 101,131,805 |
| Shares redeemed | (44,382,561) | (26,451,258) | (563,588,824) | (300,989,378) |
| Net increase (decrease) | 34,531,494 | 52,011,210 | $433,159,926 | $600,413,438 |
| Fidelity Freedom 2055 Fund | | | | |
| Fidelity Freedom 2055 Fund | | | | |
| Shares sold | 52,805,481 | 49,395,268 | $761,731,307 | $643,035,222 |
| Reinvestment of distributions | 6,721,582 | 7,798,392 | 90,846,223 | 102,625,840 |
| Shares redeemed | (40,859,659) | (34,001,316) | (579,328,173) | (442,574,631) |
| Net increase (decrease) | 18,667,404 | 23,192,344 | $273,249,357 | $303,086,431 |
| Class K | | | | |
| Shares sold | 83,301,521 | 98,294,050 | $1,172,257,484 | $1,279,899,187 |
| Reinvestment of distributions | 13,427,938 | 16,294,147 | 181,351,366 | 214,235,276 |
| Shares redeemed | (91,774,264) | (81,781,810) | (1,295,402,712) | (1,071,944,342) |
| Net increase (decrease) | 4,955,195 | 32,806,387 | $58,206,138 | $422,190,121 |
| Class K6 | | | | |
| Shares sold | 38,693,453 | 35,389,462 | $562,128,294 | $461,897,087 |
| Reinvestment of distributions | 3,793,080 | 3,484,682 | 51,932,021 | 45,948,865 |
| Shares redeemed | (20,992,833) | (12,065,028) | (304,189,568) | (157,096,769) |
| Net increase (decrease) | 21,493,700 | 26,809,116 | $309,870,747 | $350,749,183 |
| Fidelity Freedom 2060 Fund | | | | |
| Fidelity Freedom 2060 Fund | | | | |
| Shares sold | 28,395,866 | 24,715,754 | $369,913,649 | $289,885,103 |
| Reinvestment of distributions | 2,120,404 | 2,154,814 | 26,051,613 | 25,699,575 |
| Shares redeemed | (16,364,695) | (12,415,399) | (210,471,664) | (146,323,853) |
| Net increase (decrease) | 14,151,575 | 14,455,169 | $185,493,598 | $169,260,825 |
| Class K | | | | |
| Shares sold | 51,760,589 | 52,717,569 | $660,133,323 | $617,142,995 |
| Reinvestment of distributions | 4,584,224 | 4,733,025 | 56,243,271 | 56,366,020 |
| Shares redeemed | (35,827,657) | (29,579,858) | (457,361,287) | (350,106,972) |
| Net increase (decrease) | 20,517,156 | 27,870,736 | $259,015,307 | $323,402,043 |
| Class K6 | | | | |
| Shares sold | 19,827,127 | 15,209,903 | $261,235,975 | $178,501,702 |
| Reinvestment of distributions | 1,264,771 | 1,003,574 | 15,701,872 | 12,011,519 |
| Shares redeemed | (8,227,265) | (4,429,681) | (107,459,249) | (52,024,437) |
| Net increase (decrease) | 12,864,633 | 11,783,796 | $169,478,598 | $138,488,784 |
| Fidelity Freedom 2065 Fund | | | | |
| Fidelity Freedom 2065 Fund | | | | |
| Shares sold | 5,092,491 | 1,748,380 | $59,756,931 | $17,740,722 |
| Reinvestment of distributions | 75,246 | 8,870 | 895,713 | 95,175 |
| Shares redeemed | (1,476,729) | (192,386) | (17,228,130) | (1,889,544) |
| Net increase (decrease) | 3,691,008 | 1,564,864 | $43,424,514 | $15,946,353 |
| Class K | | | | |
| Shares sold | 8,930,502 | 3,185,241 | $103,562,991 | $31,981,556 |
| Reinvestment of distributions | 126,887 | 11,588 | 1,507,870 | 124,339 |
| Shares redeemed | (2,822,817) | (804,272) | (32,250,996) | (8,000,885) |
| Net increase (decrease) | 6,234,572 | 2,392,557 | $72,819,865 | $24,105,010 |
| Class K6 | | | | |
| Shares sold | 3,313,867 | 770,120 | $38,913,937 | $7,618,052 |
| Reinvestment of distributions | 44,809 | 4,004 | 534,477 | 43,007 |
| Shares redeemed | (762,998) | (59,599) | (8,842,653) | (544,461) |
| Net increase (decrease) | 2,595,678 | 714,525 | $30,605,761 | $7,116,598 |
(a) For Fidelity Freedom 2065 Fund, prior fiscal year share transactions are for the period June 28, 2019 (commencement of operations) to March 31, 2020.
10. Other.
The Funds' organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Funds. In the normal course of business, the Funds may also enter into contracts that provide general indemnifications. The Funds' maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Funds. The risk of material loss from such claims is considered remote.
The Funds do not invest in underlying mutual funds for the purpose of exercising management or control; however, investments by the Funds within their principal investment strategies may represent a significant portion of the underlying mutual fund's net assets. At the end of the period, the following Funds were the owners of record of 10% or more of the total outstanding shares of the following underlying mutual funds.
| | Fidelity Freedom 2020 Fund | Fidelity Freedom 2025 Fund | Fidelity Freedom 2030 Fund | Fidelity Freedom 2035 Fund | Fidelity Freedom 2040 Fund | Fidelity Freedom 2045 Fund |
| Fidelity Series Small Cap Opportunities Fund | - | - | 13% | 12% | 14% | - |
| Fidelity Series Investment Grade Bond Fund | 17% | 19% | 20% | - | - | - |
| Fidelity Series All-Sector Equity Fund | - | - | 14% | 13% | 15% | - |
| Fidelity Series Emerging Markets Opportunities Fund | - | 11% | 14% | 12% | 13% | - |
| Fidelity Series Inflation-Protected Bond Index Fund | 12% | 13% | 14% | - | - | - |
| Fidelity Series High Income Fund | - | 12% | 14% | 11% | 11% | - |
| Fidelity Series Floating Rate High Income Fund | - | 12% | 14% | 11% | 11% | - |
| Fidelity Series Real Estate Income Fund | - | 12% | 14% | 11% | 11% | - |
| Fidelity Series Commodity Strategy Fund | - | 12% | 14% | 11% | 11% | - |
| Fidelity Series International Growth Fund | - | - | 14% | 13% | 14% | - |
| Fidelity Series International Value Fund | - | - | 14% | 13% | 14% | - |
| Fidelity Series International Small Cap Fund | - | - | 14% | 12% | 14% | - |
| Fidelity Series Emerging Markets Debt Fund | - | 12% | 14% | 11% | 11% | - |
| Fidelity Series Value Discovery Fund | - | - | 13% | 12% | 14% | - |
| Fidelity Series Intrinsic Opportunities Fund | - | 11% | 15% | 15% | 17% | 11% |
| Fidelity Series Large Cap Stock Fund | - | - | 13% | 12% | 14% | - |
| Fidelity Series Opportunistic Insights Fund | - | - | 13% | 13% | 15% | - |
| Fidelity Series Stock Selector Large Cap Value Fund | - | - | 14% | 13% | 15% | 10% |
| Fidelity Series Growth Company Fund | - | 11% | 15% | 15% | 17% | 11% |
| Fidelity Series Blue Chip Growth Fund | - | - | 13% | 13% | 15% | - |
| Fidelity Series Large Cap Value Index Fund | - | - | 12% | 11% | 13% | - |
| Fidelity Series Small Cap Discovery Fund | - | 11% | 15% | 15% | 17% | 11% |
| Fidelity Series Short-Term Credit Fund | 17% | 13% | - | - | - | - |
| Fidelity Series Government Money Market Fund | 17% | 14% | - | - | - | - |
| Fidelity Series Long-Term Treasury Bond Index Fund | - | - | 11% | - | - | - |
| Fidelity Series International Credit Fund | 18% | 15% | 15% | - | - | - |
| Fidelity Series Canada Fund | - | - | 14% | 12% | 14% | - |
| Fidelity Series Emerging Markets Fund | - | 11% | 14% | 12% | 13% | - |
| Fidelity Series Overseas Fund | - | - | 14% | 13% | 14% | - |
| Fidelity Series Emerging Markets Debt Local Currency Fund | - | 12% | 14% | 11% | 11% | - |
The Funds, in aggregate, were the owners of record of more than 20% of the total outstanding shares of the following underlying mutual funds.
| Fund | % of shares held |
| Fidelity Series Small Cap Opportunities Fund | 82% |
| Fidelity Series Investment Grade Bond Fund | 78% |
| Fidelity Series All-Sector Equity Fund | 85% |
| Fidelity Series Emerging Markets Opportunities Fund | 83% |
| Fidelity Series Inflation-Protected Bond Index Fund | 65% |
| Fidelity Series High Income Fund | 81% |
| Fidelity Series Floating Rate High Income Fund | 81% |
| Fidelity Series Real Estate Income Fund | 82% |
| Fidelity Series Commodity Strategy Fund | 81% |
| Fidelity Series International Growth Fund | 84% |
| Fidelity Series International Value Fund | 84% |
| Fidelity Series International Small Cap Fund | 84% |
| Fidelity Series Emerging Markets Debt Fund | 81% |
| Fidelity Series Value Discovery Fund | 81% |
| Fidelity Series Intrinsic Opportunities Fund | 97% |
| Fidelity Series Large Cap Stock Fund | 81% |
| Fidelity Series Opportunistic Insights Fund | 84% |
| Fidelity Series Stock Selector Large Cap Value Fund | 87% |
| Fidelity Series Growth Company Fund | 97% |
| Fidelity Series Blue Chip Growth Fund | 84% |
| Fidelity Series Large Cap Value Index Fund | 75% |
| Fidelity Series Small Cap Discovery Fund | 97% |
| Fidelity Series Short-Term Credit Fund | 63% |
| Fidelity Series Government Money Market Fund | 65% |
| Fidelity Series Long-Term Treasury Bond Index Fund | 61% |
| Fidelity Series International Credit Fund | 91% |
| Fidelity Series Canada Fund | 84% |
| Fidelity Series Emerging Markets Fund | 83% |
| Fidelity Series Overseas Fund | 84% |
| Fidelity Series Emerging Markets Debt Local Currency Fund | 81% |
11. Coronavirus (COVID-19) Pandemic.
An outbreak of COVID-19 first detected in China during December 2019 has since spread globally and was declared a pandemic by the World Health Organization during March 2020. Developments that disrupt global economies and financial markets, such as the COVID-19 pandemic, may magnify factors that affect the Funds' performance.
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of Fidelity Aberdeen Street Trust and Shareholders of each of the fourteen funds listed in the table below
Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds indicated in the table below (fourteen of the funds constituting Fidelity Aberdeen Street Trust, hereafter collectively referred to as the “Funds”) as of March 31, 2021, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated in the table below (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of March 31, 2021, the results of each of their operations, the changes in each of their net assets, and each of the financial highlights for each of the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.
| Fund | Statement of operations | Statement of changes in net assets | Financial highlights |
| Fidelity Freedom Income Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For each of the periods indicated therein |
| Fidelity Freedom 2005 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For each of the periods indicated therein |
| Fidelity Freedom 2010 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For each of the periods indicated therein |
| Fidelity Freedom 2015 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For each of the periods indicated therein |
| Fidelity Freedom 2020 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For each of the periods indicated therein |
| Fidelity Freedom 2025 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For each of the periods indicated therein |
| Fidelity Freedom 2030 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For each of the periods indicated therein |
| Fidelity Freedom 2035 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For each of the periods indicated therein |
| Fidelity Freedom 2040 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For each of the periods indicated therein |
| Fidelity Freedom 2045 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For each of the periods indicated therein |
| Fidelity Freedom 2050 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For each of the periods indicated therein |
| Fidelity Freedom 2055 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For each of the periods indicated therein |
| Fidelity Freedom 2060 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For each of the periods indicated therein |
| Fidelity Freedom 2065 Fund | For the year ended March 31, 2021 | For the year ended March 31, 2021, and the period June 28, 2019 (commencement of operations) to March 31, 2020 | For the year ended March 31, 2021, and the period June 28, 2019 (commencement of operations) to March 31, 2020 |
Basis for Opinions
These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of March 31, 2021 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.
/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
May 14, 2021
We have served as the auditor of one or more investment companies in the Fidelity group of funds since 1932.
Trustees and Officers
The Trustees, Members of the Advisory Board (if any), and officers of the trust and funds, as applicable, are listed below. The Board of Trustees governs each fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee each fund's activities, review contractual arrangements with companies that provide services to each fund, oversee management of the risks associated with such activities and contractual arrangements, and review each fund's performance. If the interests of a fund and an underlying Fidelity® fund were to diverge, a conflict of interest could arise and affect how the Trustees and Members of the Advisory Board fulfill their fiduciary duties to the affected funds. FMR has structured the funds to avoid these potential conflicts, although there may be situations where a conflict of interest is unavoidable. In such instances, FMR, the Trustees, and Members of the Advisory Board would take reasonable steps to minimize and, if possible, eliminate the conflict. Each of the Trustees oversees 283 funds.
The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust. Each Trustee who is not an interested person (as defined in the 1940 Act) of the trust and the funds is referred to herein as an Independent Trustee. Each Independent Trustee shall retire not later than the last day of the calendar year in which his or her 75th birthday occurs. The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees. Officers and Advisory Board Members hold office without limit in time, except that any officer or Advisory Board Member may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years.
Each fund's Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-800-544-8544 if you’re an individual investing directly with Fidelity, call 1-800-835-5092 if you’re a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you’re an advisor or invest through one.
Experience, Skills, Attributes, and Qualifications of the Trustees. The Governance and Nominating Committee has adopted a statement of policy that describes the experience, qualifications, attributes, and skills that are necessary and desirable for potential Independent Trustee candidates (Statement of Policy). The Board believes that each Trustee satisfied at the time he or she was initially elected or appointed a Trustee, and continues to satisfy, the standards contemplated by the Statement of Policy. The Governance and Nominating Committee also engages professional search firms to help identify potential Independent Trustee candidates who have the experience, qualifications, attributes, and skills consistent with the Statement of Policy. From time to time, additional criteria based on the composition and skills of the current Independent Trustees, as well as experience or skills that may be appropriate in light of future changes to board composition, business conditions, and regulatory or other developments, have also been considered by the professional search firms and the Governance and Nominating Committee. In addition, the Board takes into account the Trustees' commitment and participation in Board and committee meetings, as well as their leadership of standing and ad hoc committees throughout their tenure.
In determining that a particular Trustee was and continues to be qualified to serve as a Trustee, the Board has considered a variety of criteria, none of which, in isolation, was controlling. The Board believes that, collectively, the Trustees have balanced and diverse experience, qualifications, attributes, and skills, which allow the Board to operate effectively in governing each fund and protecting the interests of shareholders. Information about the specific experience, skills, attributes, and qualifications of each Trustee, which in each case led to the Board's conclusion that the Trustee should serve (or continue to serve) as a trustee of the funds, is provided below.
Board Structure and Oversight Function. Abigail P. Johnson is an interested person and currently serves as Chairman. The Trustees have determined that an interested Chairman is appropriate and benefits shareholders because an interested Chairman has a personal and professional stake in the quality and continuity of services provided to the funds. Independent Trustees exercise their informed business judgment to appoint an individual of their choosing to serve as Chairman, regardless of whether the Trustee happens to be independent or a member of management. The Independent Trustees have determined that they can act independently and effectively without having an Independent Trustee serve as Chairman and that a key structural component for assuring that they are in a position to do so is for the Independent Trustees to constitute a substantial majority for the Board. The Independent Trustees also regularly meet in executive session. Arthur E. Johnson serves as Chairman of the Independent Trustees and as such (i) acts as a liaison between the Independent Trustees and management with respect to matters important to the Independent Trustees and (ii) with management prepares agendas for Board meetings.
Fidelity® funds are overseen by different Boards of Trustees. The funds' Board oversees Fidelity's investment-grade bond, money market, asset allocation and certain equity funds, and other Boards oversee Fidelity's high income and other equity funds. The asset allocation funds may invest in Fidelity® funds that are overseen by such other Boards. The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity® funds to focus on the unique issues of the funds they oversee, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity® funds overseen by each Board.
The Trustees operate using a system of committees to facilitate the timely and efficient consideration of all matters of importance to the Trustees, each fund, and fund shareholders and to facilitate compliance with legal and regulatory requirements and oversight of the funds' activities and associated risks. The Board, acting through its committees, has charged FMR and its affiliates with (i) identifying events or circumstances the occurrence of which could have demonstrably adverse effects on the funds' business and/or reputation; (ii) implementing processes and controls to lessen the possibility that such events or circumstances occur or to mitigate the effects of such events or circumstances if they do occur; and (iii) creating and maintaining a system designed to evaluate continuously business and market conditions in order to facilitate the identification and implementation processes described in (i) and (ii) above. Because the day-to-day operations and activities of the funds are carried out by or through FMR, its affiliates, and other service providers, the funds' exposure to risks is mitigated but not eliminated by the processes overseen by the Trustees. While each of the Board's committees has responsibility for overseeing different aspects of the funds' activities, oversight is exercised primarily through the Operations and Audit Committees. In addition, an ad hoc Board committee of Independent Trustees has worked with FMR to enhance the Board's oversight of investment and financial risks, legal and regulatory risks, technology risks, and operational risks, including the development of additional risk reporting to the Board. Appropriate personnel, including but not limited to the funds' Chief Compliance Officer (CCO), FMR's internal auditor, the independent accountants, the funds' Treasurer and portfolio management personnel, make periodic reports to the Board's committees, as appropriate, including an annual review of Fidelity's risk management program for the Fidelity® funds. The responsibilities of each standing committee, including their oversight responsibilities, are described further under "Standing Committees of the Trustees."
Interested Trustees*:
Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.
Name, Year of Birth; Principal Occupations and Other Relevant Experience+
Abigail P. Johnson (1961)
Year of Election or Appointment: 2009
Trustee
Chairman of the Board of Trustees
Ms. Johnson also serves as Trustee of other Fidelity® funds. Ms. Johnson serves as Chairman (2016-present), Chief Executive Officer (2014-present), and Director (2007-present) of FMR LLC (diversified financial services company), President of Fidelity Financial Services (2012-present) and President of Personal, Workplace and Institutional Services (2005-present). Ms. Johnson is Chairman and Director of Fidelity Management & Research Company LLC (investment adviser firm, 2011-present). Previously, Ms. Johnson served as Chairman and Director of FMR Co., Inc. (investment adviser firm, 2011-2019), Vice Chairman (2007-2016) and President (2013-2016) of FMR LLC, President and a Director of Fidelity Management & Research Company (2001-2005), a Trustee of other investment companies advised by Fidelity Management & Research Company, Fidelity Investments Money Management, Inc. (investment adviser firm), and FMR Co., Inc. (2001-2005), Senior Vice President of the Fidelity® funds (2001-2005), and managed a number of Fidelity® funds. Ms. Abigail P. Johnson and Mr. Arthur E. Johnson are not related.
Jennifer Toolin McAuliffe (1959)
Year of Election or Appointment: 2016
Trustee
Ms. McAuliffe also serves as Trustee of other Fidelity® funds and as Trustee of Fidelity Charitable (2020-present). Previously, Ms. McAuliffe served as Co-Head of Fixed Income of Fidelity Investments Limited (now known as FIL Limited (FIL)) (diversified financial services company), Director of Research for FIL’s credit and quantitative teams in London, Hong Kong and Tokyo and Director of Research for taxable and municipal bonds at Fidelity Investments Money Management, Inc. Ms. McAuliffe previously served as a member of the Advisory Board of certain Fidelity® funds (2016). Ms. McAuliffe was previously a lawyer at Ropes & Gray LLP and currently serves as director or trustee of several not-for-profit entities.
* Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.
+ The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for each fund.
Independent Trustees:
Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.
Name, Year of Birth; Principal Occupations and Other Relevant Experience+
Elizabeth S. Acton (1951)
Year of Election or Appointment: 2013
Trustee
Ms. Acton also serves as Trustee of other Fidelity® funds. Prior to her retirement, Ms. Acton served as Executive Vice President, Finance (2011-2012), Executive Vice President, Chief Financial Officer (2002-2011) and Treasurer (2004-2005) of Comerica Incorporated (financial services). Prior to joining Comerica, Ms. Acton held a variety of positions at Ford Motor Company (1983-2002), including Vice President and Treasurer (2000-2002) and Executive Vice President and Chief Financial Officer of Ford Motor Credit Company (1998-2000). Ms. Acton currently serves as a member of the Board and Audit and Finance Committees of Beazer Homes USA, Inc. (homebuilding, 2012-present). Ms. Acton previously served as a member of the Advisory Board of certain Fidelity® funds (2013-2016).
Ann E. Dunwoody (1953)
Year of Election or Appointment: 2018
Trustee
General Dunwoody also serves as Trustee of other Fidelity® funds. General Dunwoody (United States Army, Retired) was the first woman in U.S. military history to achieve the rank of four-star general and prior to her retirement in 2012 held a variety of positions within the U.S. Army, including Commanding General, U.S. Army Material Command (2008-2012). General Dunwoody currently serves as President of First to Four LLC (leadership and mentoring services, 2012-present), a member of the Board and Nomination and Corporate Governance Committees of Kforce Inc. (professional staffing services, 2016-present) and a member of the Board of Automattic Inc. (software engineering, 2018-present). Previously, General Dunwoody served as a member of the Advisory Board and Nominating and Corporate Governance Committee of L3 Technologies, Inc. (communication, electronic, sensor and aerospace systems, 2013-2019) and a member of the Board and Audit and Sustainability and Corporate Responsibility Committees of Republic Services, Inc. (waste collection, disposal and recycling, 2013-2016). Ms. Dunwoody also serves on several boards for non-profit organizations, including as a member of the Board, Chair of the Nomination and Governance Committee and a member of the Audit Committee of Logistics Management Institute (consulting non-profit, 2012-present), a member of the Council of Trustees for the Association of the United States Army (advocacy non-profit, 2013-present), a member of the Board of Florida Institute of Technology (2015-present) and a member of the Board of ThanksUSA (military family education non-profit, 2014-present). General Dunwoody previously served as a member of the Advisory Board of certain Fidelity® funds (2018).
John Engler (1948)
Year of Election or Appointment: 2014
Trustee
Mr. Engler also serves as Trustee of other Fidelity® funds. Previously, Mr. Engler served as Governor of Michigan (1991-2003), President of the Business Roundtable (2011-2017) and interim President of Michigan State University (2018-2019). Mr. Engler currently serves as a member of the Board of Stride, Inc. (formerly K12 Inc.) (technology-based education company, 2012-present). Previously, Mr. Engler served as a member of the Board of Universal Forest Products (manufacturer and distributor of wood and wood-alternative products, 2003-2019) and Trustee of The Munder Funds (2003-2014). Mr. Engler previously served as a member of the Advisory Board of certain Fidelity® funds (2014-2016).
Robert F. Gartland (1951)
Year of Election or Appointment: 2010
Trustee
Mr. Gartland also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Gartland held a variety of positions at Morgan Stanley (financial services, 1979-2007), including Managing Director (1987-2007) and Chase Manhattan Bank (1975-1978). Mr. Gartland previously served as Chairman and an investor in Gartland & Mellina Group Corp. (consulting, 2009-2019), as a member of the Board of National Securities Clearing Corporation (1993-1996) and as Chairman of TradeWeb (2003-2004).
Arthur E. Johnson (1947)
Year of Election or Appointment: 2008
Trustee
Chairman of the Independent Trustees
Mr. Johnson also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Johnson served as Senior Vice President of Corporate Strategic Development of Lockheed Martin Corporation (defense contractor, 1999-2009). Mr. Johnson currently serves as a member of the Board of Booz Allen Hamilton (management consulting, 2011-present). Mr. Johnson previously served as a member of the Board of Eaton Corporation plc (diversified power management, 2009-2019) and a member of the Board of AGL Resources, Inc. (holding company, 2002-2016). Mr. Johnson previously served as Vice Chairman (2015-2018) of the Independent Trustees of certain Fidelity® funds. Mr. Arthur E. Johnson is not related to Ms. Abigail P. Johnson.
Michael E. Kenneally (1954)
Year of Election or Appointment: 2009
Trustee
Vice Chairman of the Independent Trustees
Mr. Kenneally also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Kenneally served as Chairman and Global Chief Executive Officer of Credit Suisse Asset Management and as Executive Vice President and Chief Investment Officer for Bank of America Corporation, where he was responsible for the bank’s money-management products. Previously at Bank of America, Mr. Kenneally managed the principal investment research functions and also spent more than a decade as portfolio manager for various equity and fixed-income funds and institutional accounts. He began his career as a research analyst in 1983 and was awarded the Chartered Financial Analyst (CFA) designation in 1991.
Marie L. Knowles (1946)
Year of Election or Appointment: 2001
Trustee
Ms. Knowles also serves as Trustee of other Fidelity® funds. Prior to her retirement, Ms. Knowles held several positions at Atlantic Richfield Company (diversified energy), including Executive Vice President and Chief Financial Officer (1996-2000), Senior Vice President (1993-1996) and President of ARCO Transportation Company (pipeline and tanker operations, 1993-1996). Ms. Knowles currently serves as a member of the Board of McKesson Corporation (healthcare service, since 2002), a member of the Board of the Santa Catalina Island Company (real estate, 2009-present), a member of the Investment Company Institute Board of Governors and a member of the Governing Council of the Independent Directors Council (2014-present). Ms. Knowles also serves as a member of the Advisory Board for the School of Engineering of the University of Southern California. Ms. Knowles previously served as Chairman (2015-2018) and Vice Chairman (2012-2015) of the Independent Trustees of certain Fidelity® funds.
Mark A. Murray (1954)
Year of Election or Appointment: 2016
Trustee
Mr. Murray also serves as Trustee of other Fidelity® funds. Previously, Mr. Murray served as Co-Chief Executive Officer (2013-2016), President (2006-2013) and Vice Chairman (2013-2020) of Meijer, Inc. Mr. Murray serves as a member of the Board (2009-present) and Public Policy and Responsibility Committee (2009-present) and Chair of the Nuclear Review Committee (2019-present) of DTE Energy Company (diversified energy company). Mr. Murray previously served as a member of the Board of Spectrum Health (not-for-profit health system, 2015-2019) and as a member of the Board and Audit Committee and Chairman of the Nominating and Corporate Governance Committee of Universal Forest Products, Inc. (manufacturer and distributor of wood and wood-alternative products, 2004-2016). Mr. Murray also serves as a member of the Board of many community and professional organizations. Mr. Murray previously served as a member of the Advisory Board of certain Fidelity® funds (2016).
+ The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for each fund.
Advisory Board Members and Officers:
Correspondence intended for an officer may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210. Officers appear below in alphabetical order.
Name, Year of Birth; Principal Occupation
Craig S. Brown (1977)
Year of Election or Appointment: 2019
Assistant Treasurer
Mr. Brown also serves as Assistant Treasurer of other funds. Mr. Brown is an employee of Fidelity Investments (2013-present).
John J. Burke III (1964)
Year of Election or Appointment: 2018
Chief Financial Officer
Mr. Burke also serves as Chief Financial Officer of other funds. Mr. Burke serves as Head of Investment Operations for Fidelity Fund and Investment Operations (2018-present) and is an employee of Fidelity Investments (1998-present). Previously Mr. Burke served as head of Asset Management Investment Operations (2012-2018).
David J. Carter (1973)
Year of Election or Appointment: 2020
Assistant Secretary
Mr. Carter also serves as Assistant Secretary of other funds. Mr. Carter serves as Vice President, Associate General Counsel (2010-present) and is an employee of Fidelity Investments (2005-present).
Jonathan Davis (1968)
Year of Election or Appointment: 2010
Assistant Treasurer
Mr. Davis also serves as Assistant Treasurer of other funds. Mr. Davis serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments. Previously, Mr. Davis served as Vice President and Associate General Counsel of FMR LLC (diversified financial services company, 2003-2010).
Laura M. Del Prato (1964)
Year of Election or Appointment: 2018
President and Treasurer
Ms. Del Prato also serves as an officer of other funds. Ms. Del Prato is an employee of Fidelity Investments (2017-present). Previously, Ms. Del Prato served as President and Treasurer of The North Carolina Capital Management Trust: Cash Portfolio and Term Portfolio (2018-2020). Prior to joining Fidelity Investments, Ms. Del Prato served as a Managing Director and Treasurer of the JPMorgan Mutual Funds (2014-2017). Prior to JPMorgan, Ms. Del Prato served as a partner at Cohen Fund Audit Services (accounting firm, 2012-2013) and KPMG LLP (accounting firm, 2004-2012).
Colm A. Hogan (1973)
Year of Election or Appointment: 2016
Assistant Treasurer
Mr. Hogan also serves as an officer of other funds. Mr. Hogan serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2005-present). Previously, Mr. Hogan served as Deputy Treasurer of certain Fidelity® funds (2016-2020) and Assistant Treasurer of certain Fidelity® funds (2016-2018).
Cynthia Lo Bessette (1969)
Year of Election or Appointment: 2019
Secretary and Chief Legal Officer (CLO)
Ms. Lo Bessette also serves as an officer of other funds. Ms. Lo Bessette serves as CLO, Secretary, and Senior Vice President of Fidelity Management & Research Company LLC (investment adviser firm, 2019-present); and CLO of Fidelity Management & Research (Hong Kong) Limited, FMR Investment Management (UK) Limited, and Fidelity Management & Research (Japan) Limited (investment adviser firms, 2019-present). She is a Senior Vice President and Deputy General Counsel of FMR LLC (diversified financial services company, 2019-present), and is an employee of Fidelity Investments. Previously, Ms. Lo Bessette served as CLO, Secretary, and Senior Vice President of FMR Co., Inc. (investment adviser firm, 2019); Secretary of Fidelity SelectCo, LLC and Fidelity Investments Money Management, Inc. (investment adviser firms, 2019). Prior to joining Fidelity Investments, Ms. Lo Bessette was Executive Vice President, General Counsel (2016-2019) and Senior Vice President, Deputy General Counsel (2015-2016) of OppenheimerFunds (investment management company) and Deputy Chief Legal Officer (2013-2015) of Jennison Associates LLC (investment adviser firm).
Chris Maher (1972)
Year of Election or Appointment: 2013
Assistant Treasurer
Mr. Maher also serves as an officer of other funds. Mr. Maher serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), and is an employee of Fidelity Investments (2008-present). Previously, Mr. Maher served as Assistant Treasurer of certain funds (2013-2020); Vice President of Asset Management Compliance (2013), Vice President of the Program Management Group of FMR (investment adviser firm, 2010-2013), and Vice President of Valuation Oversight (2008-2010).
Kenneth B. Robins (1969)
Year of Election or Appointment: 2020
Chief Compliance Officer
Mr. Robins also serves as an officer of other funds. Mr. Robins serves as Compliance Officer of Fidelity Management & Research Company LLC (investment adviser firm, 2016-present) and is an employee of Fidelity Investments (2004-present). Previously, Mr. Robins served as Compliance Officer of FMR Co., Inc. (investment adviser firm, 2016-2019), as Executive Vice President of Fidelity Investments Money Management, Inc. (investment adviser firm, 2013-2016) and served in other fund officer roles.
Brett Segaloff (1972)
Year of Election or Appointment: 2021
Anti-Money Laundering (AML) Officer
Mr. Segaloff also serves as an AML Officer of other funds and other related entities. He is Director, Anti-Money Laundering (2007-present) of FMR LLC (diversified financial services company) and is an employee of Fidelity Investments (1996-present).
Stacie M. Smith (1974)
Year of Election or Appointment: 2013
Assistant Treasurer
Ms. Smith also serves as an officer of other funds. Ms. Smith serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), is an employee of Fidelity Investments (2009-present), and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Smith served as Senior Audit Manager of Ernst & Young LLP (accounting firm, 1996-2009). Previously, Ms. Smith served as Assistant Treasurer (2013-2019) and Deputy Treasurer (2013-2016) of certain Fidelity® funds.
Marc L. Spector (1972)
Year of Election or Appointment: 2016
Deputy Treasurer
Mr. Spector also serves as an officer of other funds. Mr. Spector serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2016-present). Prior to joining Fidelity Investments, Mr. Spector served as Director at the Siegfried Group (accounting firm, 2013-2016), and prior to Siegfried Group as audit senior manager at Deloitte & Touche LLP (accounting firm, 2005-2013).
Jim Wegmann (1979)
Year of Election or Appointment: 2019
Assistant Treasurer
Mr. Wegmann also serves as Assistant Treasurer of other funds. Mr. Wegmann is an employee of Fidelity Investments (2011-present).
Vadim Zlotnikov (1962)
Year of Election or Appointment: 2019
Vice President
Mr. Zlotnikov also serves as Vice President of other funds. Mr. Zlotnikov serves as President of FIAM (Fidelity Institutional Asset Management) and is an employee of Fidelity Investments (2018-present). Previously, Mr. Zlotnikov served as President and Chief Investment Officer of Global Asset Allocation (2018-2020). Prior to joining Fidelity Investments, Mr. Zlotnikov served as Co-Head of Multi-Asset Solutions, Chief Market Strategist, and CIO of Systematic Strategies with AllianceBernstein (investment adviser firm, 2002-2018).
Shareholder Expense Example
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (October 1, 2020 to March 31, 2021).
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds.
| | Annualized Expense Ratio-A | Beginning
Account Value
October 1, 2020 | Ending
Account Value
March 31, 2021 | Expenses Paid
During Period-B
October 1, 2020
to March 31, 2021 |
| Fidelity Freedom Income Fund | | | | |
| Fidelity Freedom Income Fund | .47% | | | |
| Actual | | $1,000.00 | $1,041.60 | $2.39 |
| Hypothetical-C | | $1,000.00 | $1,022.59 | $2.37 |
| Class K | .41% | | | |
| Actual | | $1,000.00 | $1,042.00 | $2.09 |
| Hypothetical-C | | $1,000.00 | $1,022.89 | $2.07 |
| Class K6 | .37% | | | |
| Actual | | $1,000.00 | $1,042.30 | $1.88 |
| Hypothetical-C | | $1,000.00 | $1,023.09 | $1.87 |
| Fidelity Freedom 2005 Fund | | | | |
| Fidelity Freedom 2005 Fund | .47% | | | |
| Actual | | $1,000.00 | $1,053.40 | $2.41 |
| Hypothetical-C | | $1,000.00 | $1,022.59 | $2.37 |
| Class K | .42% | | | |
| Actual | | $1,000.00 | $1,053.80 | $2.15 |
| Hypothetical-C | | $1,000.00 | $1,022.84 | $2.12 |
| Class K6 | .37% | | | |
| Actual | | $1,000.00 | $1,053.80 | $1.89 |
| Hypothetical-C | | $1,000.00 | $1,023.09 | $1.87 |
| Fidelity Freedom 2010 Fund | | | | |
| Fidelity Freedom 2010 Fund | .51% | | | |
| Actual | | $1,000.00 | $1,076.10 | $2.64 |
| Hypothetical-C | | $1,000.00 | $1,022.39 | $2.57 |
| Class K | .45% | | | |
| Actual | | $1,000.00 | $1,076.50 | $2.33 |
| Hypothetical-C | | $1,000.00 | $1,022.69 | $2.27 |
| Class K6 | .38% | | | |
| Actual | | $1,000.00 | $1,076.80 | $1.97 |
| Hypothetical-C | | $1,000.00 | $1,023.04 | $1.92 |
| Fidelity Freedom 2015 Fund | | | | |
| Fidelity Freedom 2015 Fund | .55% | | | |
| Actual | | $1,000.00 | $1,098.80 | $2.88 |
| Hypothetical-C | | $1,000.00 | $1,022.19 | $2.77 |
| Class K | .48% | | | |
| Actual | | $1,000.00 | $1,099.40 | $2.51 |
| Hypothetical-C | | $1,000.00 | $1,022.54 | $2.42 |
| Class K6 | .40% | | | |
| Actual | | $1,000.00 | $1,099.70 | $2.09 |
| Hypothetical-C | | $1,000.00 | $1,022.94 | $2.02 |
| Fidelity Freedom 2020 Fund | | | | |
| Fidelity Freedom 2020 Fund | .59% | | | |
| Actual | | $1,000.00 | $1,121.00 | $3.12 |
| Hypothetical-C | | $1,000.00 | $1,021.99 | $2.97 |
| Class K | .52% | | | |
| Actual | | $1,000.00 | $1,121.50 | $2.75 |
| Hypothetical-C | | $1,000.00 | $1,022.34 | $2.62 |
| Class K6 | .42% | | | |
| Actual | | $1,000.00 | $1,122.30 | $2.22 |
| Hypothetical-C | | $1,000.00 | $1,022.84 | $2.12 |
| Fidelity Freedom 2025 Fund | | | | |
| Fidelity Freedom 2025 Fund | .64% | | | |
| Actual | | $1,000.00 | $1,137.50 | $3.41 |
| Hypothetical-C | | $1,000.00 | $1,021.74 | $3.23 |
| Class K | .55% | | | |
| Actual | | $1,000.00 | $1,138.20 | $2.93 |
| Hypothetical-C | | $1,000.00 | $1,022.19 | $2.77 |
| Class K6 | .44% | | | |
| Actual | | $1,000.00 | $1,138.90 | $2.35 |
| Hypothetical-C | | $1,000.00 | $1,022.74 | $2.22 |
| Fidelity Freedom 2030 Fund | | | | |
| Fidelity Freedom 2030 Fund | .68% | | | |
| Actual | | $1,000.00 | $1,158.20 | $3.66 |
| Hypothetical-C | | $1,000.00 | $1,021.54 | $3.43 |
| Class K | .59% | | | |
| Actual | | $1,000.00 | $1,159.00 | $3.18 |
| Hypothetical-C | | $1,000.00 | $1,021.99 | $2.97 |
| Class K6 | .46% | | | |
| Actual | | $1,000.00 | $1,160.10 | $2.48 |
| Hypothetical-C | | $1,000.00 | $1,022.64 | $2.32 |
| Fidelity Freedom 2035 Fund | | | | |
| Fidelity Freedom 2035 Fund | .72% | | | |
| Actual | | $1,000.00 | $1,199.20 | $3.95 |
| Hypothetical-C | | $1,000.00 | $1,021.34 | $3.63 |
| Class K | .62% | | | |
| Actual | | $1,000.00 | $1,199.40 | $3.40 |
| Hypothetical-C | | $1,000.00 | $1,021.84 | $3.13 |
| Class K6 | .48% | | | |
| Actual | | $1,000.00 | $1,200.40 | $2.63 |
| Hypothetical-C | | $1,000.00 | $1,022.54 | $2.42 |
| Fidelity Freedom 2040 Fund | | | | |
| Fidelity Freedom 2040 Fund | .75% | | | |
| Actual | | $1,000.00 | $1,226.20 | $4.16 |
| Hypothetical-C | | $1,000.00 | $1,021.19 | $3.78 |
| Class K | .64% | | | |
| Actual | | $1,000.00 | $1,225.90 | $3.55 |
| Hypothetical-C | | $1,000.00 | $1,021.74 | $3.23 |
| Class K6 | .49% | | | |
| Actual | | $1,000.00 | $1,227.10 | $2.72 |
| Hypothetical-C | | $1,000.00 | $1,022.49 | $2.47 |
| Fidelity Freedom 2045 Fund | | | | |
| Fidelity Freedom 2045 Fund | .75% | | | |
| Actual | | $1,000.00 | $1,225.90 | $4.16 |
| Hypothetical-C | | $1,000.00 | $1,021.19 | $3.78 |
| Class K | .64% | | | |
| Actual | | $1,000.00 | $1,226.90 | $3.55 |
| Hypothetical-C | | $1,000.00 | $1,021.74 | $3.23 |
| Class K6 | .49% | | | |
| Actual | | $1,000.00 | $1,228.10 | $2.72 |
| Hypothetical-C | | $1,000.00 | $1,022.49 | $2.47 |
| Fidelity Freedom 2050 Fund | | | | |
| Fidelity Freedom 2050 Fund | .75% | | | |
| Actual | | $1,000.00 | $1,225.40 | $4.16 |
| Hypothetical-C | | $1,000.00 | $1,021.19 | $3.78 |
| Class K | .64% | | | |
| Actual | | $1,000.00 | $1,227.30 | $3.55 |
| Hypothetical-C | | $1,000.00 | $1,021.74 | $3.23 |
| Class K6 | .49% | | | |
| Actual | | $1,000.00 | $1,227.30 | $2.72 |
| Hypothetical-C | | $1,000.00 | $1,022.49 | $2.47 |
| Fidelity Freedom 2055 Fund | | | | |
| Fidelity Freedom 2055 Fund | .75% | | | |
| Actual | | $1,000.00 | $1,225.70 | $4.16 |
| Hypothetical-C | | $1,000.00 | $1,021.19 | $3.78 |
| Class K | .64% | | | |
| Actual | | $1,000.00 | $1,226.60 | $3.55 |
| Hypothetical-C | | $1,000.00 | $1,021.74 | $3.23 |
| Class K6 | .49% | | | |
| Actual | | $1,000.00 | $1,227.50 | $2.72 |
| Hypothetical-C | | $1,000.00 | $1,022.49 | $2.47 |
| Fidelity Freedom 2060 Fund | | | | |
| Fidelity Freedom 2060 Fund | .75% | | | |
| Actual | | $1,000.00 | $1,226.30 | $4.16 |
| Hypothetical-C | | $1,000.00 | $1,021.19 | $3.78 |
| Class K | .64% | | | |
| Actual | | $1,000.00 | $1,226.20 | $3.55 |
| Hypothetical-C | | $1,000.00 | $1,021.74 | $3.23 |
| Class K6 | .49% | | | |
| Actual | | $1,000.00 | $1,227.90 | $2.72 |
| Hypothetical-C | | $1,000.00 | $1,022.49 | $2.47 |
| Fidelity Freedom 2065 Fund | | | | |
| Fidelity Freedom 2065 Fund | .75% | | | |
| Actual | | $1,000.00 | $1,226.30 | $4.16 |
| Hypothetical-C | | $1,000.00 | $1,021.19 | $3.78 |
| Class K | .64% | | | |
| Actual | | $1,000.00 | $1,226.60 | $3.55 |
| Hypothetical-C | | $1,000.00 | $1,021.74 | $3.23 |
| Class K6 | .49% | | | |
| Actual | | $1,000.00 | $1,228.10 | $2.72 |
| Hypothetical-C | | $1,000.00 | $1,022.49 | $2.47 |
A Annualized expense ratio reflects expenses net of applicable fee waivers.
B Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 365 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
C 5% return per year before expenses
Distributions (Unaudited)
The Board of Trustees of each fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities and dividends derived from net investment income:
| | Pay Date | Record Date | Dividends | Capital Gains |
| Fidelity Freedom Income Fund | | | | |
| Fidelity Freedom Income Fund | 05/10/2021 | 05/07/2021 | $0.005 | $0.215 |
| Class K | 05/10/2021 | 05/07/2021 | $0.006 | $0.215 |
| Class K6 | 05/10/2021 | 05/07/2021 | $0.007 | $0.215 |
| Fidelity Freedom 2005 Fund | | | | |
| Fidelity Freedom 2005 Fund | 05/17/2021 | 05/14/2021 | $0.018 | $0.315 |
| Class K | 05/17/2021 | 05/14/2021 | $0.019 | $0.315 |
| Class K6 | 05/17/2021 | 05/14/2021 | $0.020 | $0.315 |
| Fidelity Freedom 2010 Fund | | | | |
| Fidelity Freedom 2010 Fund | 05/17/2021 | 05/14/2021 | $0.016 | $0.559 |
| Class K | 05/17/2021 | 05/14/2021 | $0.017 | $0.559 |
| Class K6 | 05/17/2021 | 05/14/2021 | $0.021 | $0.559 |
| Fidelity Freedom 2015 Fund | | | | |
| Fidelity Freedom 2015 Fund | 05/17/2021 | 05/14/2021 | $0.009 | $0.554 |
| Class K | 05/17/2021 | 05/14/2021 | $0.010 | $0.554 |
| Class K6 | 05/17/2021 | 05/14/2021 | $0.013 | $0.554 |
| Fidelity Freedom 2020 Fund | | | | |
| Fidelity Freedom 2020 Fund | 05/17/2021 | 05/14/2021 | $0.006 | $0.805 |
| Class K | 05/17/2021 | 05/14/2021 | $0.008 | $0.805 |
| Class K6 | 05/17/2021 | 05/14/2021 | $0.011 | $0.805 |
| Fidelity Freedom 2025 Fund | | | | |
| Fidelity Freedom 2025 Fund | 05/17/2021 | 05/14/2021 | $0.002 | $0.605 |
| Class K | 05/17/2021 | 05/14/2021 | $0.004 | $0.605 |
| Class K6 | 05/17/2021 | 05/14/2021 | $0.007 | $0.605 |
| Fidelity Freedom 2030 Fund | | | | |
| Fidelity Freedom 2030 Fund | 05/17/2021 | 05/14/2021 | $0.000 | $0.834 |
| Class K | 05/17/2021 | 05/14/2021 | $0.000 | $0.836 |
| Class K6 | 05/17/2021 | 05/14/2021 | $0.000 | $0.841 |
| Fidelity Freedom 2035 Fund | | | | |
| Fidelity Freedom 2035 Fund | 05/17/2021 | 05/14/2021 | $0.000 | $0.781 |
| Class K | 05/17/2021 | 05/14/2021 | $0.000 | $0.781 |
| Class K6 | 05/17/2021 | 05/14/2021 | $0.000 | $0.781 |
| Fidelity Freedom 2040 Fund | | | | |
| Fidelity Freedom 2040 Fund | 05/17/2021 | 05/14/2021 | $0.000 | $0.595 |
| Class K | 05/17/2021 | 05/14/2021 | $0.000 | $0.595 |
| Class K6 | 05/17/2021 | 05/14/2021 | $0.000 | $0.595 |
| Fidelity Freedom 2045 Fund | | | | |
| Fidelity Freedom 2045 Fund | 05/17/2021 | 05/14/2021 | $0.000 | $0.671 |
| Class K | 05/17/2021 | 05/14/2021 | $0.000 | $0.671 |
| Class K6 | 05/17/2021 | 05/14/2021 | $0.000 | $0.671 |
| Fidelity Freedom 2050 Fund | | | | |
| Fidelity Freedom 2050 Fund | 05/17/2021 | 05/14/2021 | $0.000 | $0.665 |
| Class K | 05/17/2021 | 05/14/2021 | $0.000 | $0.665 |
| Class K6 | 05/17/2021 | 05/14/2021 | $0.000 | $0.665 |
| Fidelity Freedom 2055 Fund | | | | |
| Fidelity Freedom 2055 Fund | 05/17/2021 | 05/14/2021 | $0.000 | $0.738 |
| Class K | 05/17/2021 | 05/14/2021 | $0.000 | $0.738 |
| Class K6 | 05/17/2021 | 05/14/2021 | $0.000 | $0.738 |
| Fidelity Freedom 2060 Fund | | | | |
| Fidelity Freedom 2060 Fund | 05/17/2021 | 05/14/2021 | $0.000 | $0.596 |
| Class K | 05/17/2021 | 05/14/2021 | $0.000 | $0.596 |
| Class K6 | 05/17/2021 | 05/14/2021 | $0.000 | $0.596 |
| Fidelity Freedom 2065 Fund | | | | |
| Fidelity Freedom 2065 Fund | 05/17/2021 | 05/14/2021 | $0.000 | $0.335 |
| Class K | 05/17/2021 | 05/14/2021 | $0.000 | $0.335 |
| Class K6 | 05/17/2021 | 05/14/2021 | $0.000 | $0.335 |
The funds hereby designate as capital gain dividend the amounts noted below for the taxable year ended March 31, 2021, or, if subsequently determined to be different, the net capital gain of such year.
| Fidelity Freedom Income Fund | $91,467,146 |
| Fidelity Freedom 2005 Fund | $35,604,526 |
| Fidelity Freedom 2010 Fund | $288,550,433 |
| Fidelity Freedom 2015 Fund | $512,705,595 |
| Fidelity Freedom 2020 Fund | $1,781,811,977 |
| Fidelity Freedom 2025 Fund | $1,748,191,128 |
| Fidelity Freedom 2030 Fund | $2,380,288,060 |
| Fidelity Freedom 2035 Fund | $1,818,145,182 |
| Fidelity Freedom 2040 Fund | $1,881,670,541 |
| Fidelity Freedom 2045 Fund | $1,135,004,855 |
| Fidelity Freedom 2050 Fund | $975,931,115 |
| Fidelity Freedom 2055 Fund | $443,506,807 |
| Fidelity Freedom 2060 Fund | $142,129,175 |
| Fidelity Freedom 2065 Fund | $6,804,234 |
A percentage of the dividends distributed during the fiscal year for the following funds were derived from interest on U.S. Government securities which is generally exempt from state income tax
| Fidelity Freedom Income Fund | 17.67% |
| Fidelity Freedom 2005 Fund | 15.84% |
| Fidelity Freedom 2010 Fund | 13.31% |
| Fidelity Freedom 2015 Fund | 11.25% |
| Fidelity Freedom 2020 Fund | 9.58% |
| Fidelity Freedom 2025 Fund | 8.48% |
| Fidelity Freedom 2030 Fund | 7.32% |
| Fidelity Freedom 2035 Fund | 4.99% |
| Fidelity Freedom 2040 Fund | 3.95% |
| Fidelity Freedom 2045 Fund | 3.94% |
| Fidelity Freedom 2050 Fund | 3.94% |
| Fidelity Freedom 2055 Fund | 3.93% |
| Fidelity Freedom 2060 Fund | 3.88% |
| Fidelity Freedom 2065 Fund | 3.63% |
A percentage of the dividends distributed during the fiscal year for the following funds qualify for the dividends–received deduction for corporate shareholders:
| | Retail | Class K | Class K6 |
| Fidelity Freedom Income Fund | | | |
| April 2020 | 0% | 0% | 0% |
| May 2020 | 2% | 2% | 2% |
| June 2020 | 4% | 4% | 4% |
| July 2020 | 4% | 4% | 4% |
| August 2020 | 4% | 4% | 3% |
| September 2020 | 4% | 4% | 4% |
| October 2020 | 4% | 4% | 4% |
| November 2020 | 4% | 4% | 4% |
| December 2020 | 4% | 4% | 4% |
| February 2021 | 3% | 3% | 2% |
| March 2021 | 3% | 3% | 3% |
| Fidelity Freedom 2005 Fund | | | |
| May 2020 | 1% | 1% | 1% |
| December 2020 | 6% | 6% | 6% |
| Fidelity Freedom 2010 Fund | | | |
| May 2020 | 1% | 1% | 1% |
| December 2020 | 10% | 9% | 9% |
| Fidelity Freedom 2015 Fund | | | |
| May 2020 | 2% | 2% | 2% |
| December 2020 | 13% | 13% | 12% |
| Fidelity Freedom 2020 Fund | | | |
| May 2020 | 4% | 4% | 3% |
| December 2020 | 17% | 17% | 16% |
| Fidelity Freedom 2025 Fund | | | |
| May 2020 | 8% | 7% | 5% |
| December 2020 | 20% | 20% | 18% |
| Fidelity Freedom 2030 Fund | | | |
| May 2020 | 8% | 7% | 5% |
| December 2020 | 25% | 24% | 23% |
| Fidelity Freedom 2035 Fund | | | |
| May 2020 | 100% | 43% | 17% |
| December 2020 | 34% | 33% | 30% |
| Fidelity Freedom 2040 Fund | | | |
| May 2020 | 100% | 44% | 16% |
| December 2020 | 42% | 41% | 37% |
| Fidelity Freedom 2045 Fund | | | |
| May 2020 | – | 67% | 22% |
| December 2020 | 42% | 37% | 41% |
| Fidelity Freedom 2050 Fund | | | |
| May 2020 | – | – | 100% |
| December 2020 | 42% | 40% | 37% |
| Fidelity Freedom 2055 Fund | | | |
| December 2020 | 45% | 43% | 39% |
| Fidelity Freedom 2060 Fund | | | |
| May 2020 | 90% | 22% | 11% |
| December 2020 | 41% | 40% | 36% |
| Fidelity Freedom 2065 Fund | | | |
| May 2020 | 12% | 3% | 2% |
| December 2020 | 38% | 37% | 35% |
A percentage of the dividends distributed during the fiscal year for the following funds may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.
| | Retail | Class K | Class K6 |
| Fidelity Freedom Income Fund | | | |
| April 2020 | 0% | 0% | 0% |
| May 2020 | 8% | 8% | 8% |
| June 2020 | 13% | 12% | 12% |
| July 2020 | 13% | 12% | 12% |
| August 2020 | 13% | 13% | 11% |
| September 2020 | 13% | 12% | 12% |
| October 2020 | 13% | 12% | 12% |
| November 2020 | 13% | 12% | 12% |
| December 2020 | 13% | 13% | 12% |
| February 2021 | 4% | 4% | 3% |
| March 2021 | 4% | 3% | 3% |
| Fidelity Freedom 2005 Fund | | | |
| May 2020 | 2% | 1% | 1% |
| December 2020 | 17% | 17% | 16% |
| Fidelity Freedom 2010 Fund | | | |
| May 2020 | 2% | 2% | 2% |
| December 2020 | 24% | 23% | 23% |
| Fidelity Freedom 2015 Fund | | | |
| May 2020 | 4% | 3% | 3% |
| December 2020 | 32% | 31% | 30% |
| Fidelity Freedom 2020 Fund | | | |
| May 2020 | 13% | 11% | 10% |
| December 2020 | 39% | 38% | 36% |
| Fidelity Freedom 2025 Fund | | | |
| May 2020 | 23% | 19% | 14% |
| December 2020 | 46% | 44% | 42% |
| Fidelity Freedom 2030 Fund | | | |
| May 2020 | 12% | 10% | 8% |
| December 2020 | 53% | 52% | 48% |
| Fidelity Freedom 2035 Fund | | | |
| May 2020 | 100% | 100% | 96% |
| December 2020 | 74% | 71% | 66% |
| Fidelity Freedom 2040 Fund | | | |
| May 2020 | 100% | 67% | 25% |
| December 2020 | 91% | 88% | 80% |
| Fidelity Freedom 2045 Fund | | | |
| May 2020 | – | 91% | 31% |
| December 2020 | 92% | 88% | 80% |
| Fidelity Freedom 2050 Fund | | | |
| May 2020 | – | – | 100% |
| December 2020 | 92% | 88% | 80% |
| Fidelity Freedom 2055 Fund | | | |
| December 2020 | 93% | 89% | 81% |
| Fidelity Freedom 2060 Fund | | | |
| May 2020 | 100% | 55% | 28% |
| December 2020 | 90% | 86% | 79% |
| Fidelity Freedom 2065 Fund | | | |
| May 2020 | 25% | 7% | 4% |
| December 2020 | 80% | 78% | 74% |
A percentage of the dividends distributed during the fiscal year for the following funds qualify as a section 199A dividend:
| | Retail | Class K | Class K6 |
| Fidelity Freedom Income Fund | | | |
| April 2020 | 0% | 0% | 0% |
| May 2020 | 1% | 1% | 1% |
| June 2020 | 1% | 1% | 1% |
| July 2020 | 1% | 1% | 1% |
| August 2020 | 1% | 1% | 1% |
| September 2020 | 1% | 1% | 1% |
| October 2020 | 1% | 1% | 1% |
| November 2020 | 1% | 1% | 1% |
| December 2020 | 1% | 1% | 1% |
| February 2021 | 0% | 0% | 0% |
| March 2021 | 0% | 0% | 0% |
| Fidelity Freedom 2005 Fund | | | |
| May 2020 | 1% | 1% | 1% |
| December 2020 | 1% | 1% | 1% |
| Fidelity Freedom 2010 Fund | | | |
| May 2020 | 1% | 1% | 1% |
| December 2020 | 1% | 1% | 1% |
| Fidelity Freedom 2015 Fund | | | |
| May 2020 | 1% | 1% | 1% |
| December 2020 | 1% | 1% | 1% |
| Fidelity Freedom 2020 Fund | | | |
| May 2020 | 1% | 1% | 1% |
| December 2020 | 1% | 1% | 1% |
| Fidelity Freedom 2025 Fund | | | |
| May 2020 | 1% | 1% | 1% |
| December 2020 | 1% | 1% | 1% |
| Fidelity Freedom 2030 Fund | | | |
| May 2020 | 1% | 1% | 1% |
| December 2020 | 2% | 2% | 1% |
| Fidelity Freedom 2035 Fund | | | |
| May 2020 | 0% | 0% | 1% |
| December 2020 | 2% | 2% | 2% |
| Fidelity Freedom 2040 Fund | | | |
| May 2020 | 0% | 1% | 1% |
| December 2020 | 2% | 2% | 2% |
| Fidelity Freedom 2045 Fund | | | |
| May 2020 | 0% | 1% | 1% |
| December 2020 | 2% | 2% | 2% |
| Fidelity Freedom 2050 Fund | | | |
| May 2020 | – | – | 0% |
| December 2020 | 2% | 2% | 2% |
| Fidelity Freedom 2055 Fund | | | |
| December 2020 | 2% | 2% | 2% |
| Fidelity Freedom 2060 Fund | | | |
| May 2020 | 0% | 1% | 1% |
| December 2020 | 2% | 2% | 2% |
| Fidelity Freedom 2065 Fund | | | |
| May 2020 | 1% | 1% | 1% |
| December 2020 | 2% | 2% | 2% |
The funds will notify shareholders in January 2022 of amounts for use in preparing 2021 income tax returns.
Liquidity Risk Management Program
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Funds have adopted and implemented a liquidity risk management program pursuant to the Liquidity Rule (the Program) effective December 1, 2018. The Program is reasonably designed to assess and manage each Fund’s liquidity risk and to comply with the requirements of the Liquidity Rule. Each Fund’s Board of Trustees (the Board) has designated each Fund’s investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund’s liquidity risk based on a variety of factors including (1) the Fund’s investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) in the case of exchange-traded funds, certain additional factors including the effect of the Fund’s prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund’s portfolio, as applicable.
In accordance with the Program, each of the Fund’s portfolio investments is classified into one of four liquidity categories described below based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
- Highly liquid investments – cash or convertible to cash within three business days or less
- Moderately liquid investments – convertible to cash in three to seven calendar days
- Less liquid investments – can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments – cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund’s illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund’s net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM). The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund’s Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of implementation of the Program for the annual period from December 1, 2019 through November 30, 2020. The report concluded that the Program has been implemented and is operating effectively and is reasonably designed to assess and manage the Fund’s liquidity risk.
FF-ANN-0521
1.702316.123
Fidelity Advisor Freedom® Funds - Income, 2005, 2010, 2015, 2020, 2025, 2030, 2035, 2040, 2045, 2050, 2055, 2060, 2065
Annual Report
March 31, 2021
Contents
To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2021 FMR LLC. All rights reserved.
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Funds nor Fidelity Distributors Corporation is a bank.
Note to Shareholders:
Early in 2020, the outbreak and spread of a new coronavirus emerged as a public health emergency that had a major influence on financial markets, primarily based on its impact on the global economy and the outlook for corporate earnings. The virus causes a respiratory disease known as COVID-19. On March 11, 2020 the World Health Organization declared the COVID-19 outbreak a pandemic, citing sustained risk of further global spread.
In the weeks following, as the crisis worsened, we witnessed an escalating human tragedy with wide-scale social and economic consequences from coronavirus-containment measures. The outbreak of COVID-19 prompted a number of measures to limit the spread, including travel and border restrictions, quarantines, and restrictions on large gatherings. In turn, these resulted in lower consumer activity, diminished demand for a wide range of products and services, disruption in manufacturing and supply chains, and – given the wide variability in outcomes regarding the outbreak – significant market uncertainty and volatility. Amid the turmoil, global governments and central banks took unprecedented action to help support consumers, businesses, and the broader economies, and to limit disruption to financial systems.
The situation continues to unfold, and the extent and duration of its impact on financial markets and the economy remain highly uncertain. Extreme events such as the coronavirus crisis are “exogenous shocks” that can have significant adverse effects on mutual funds and their investments. Although multiple asset classes may be affected by market disruption, the duration and impact may not be the same for all types of assets.
Fidelity is committed to helping you stay informed amid news about COVID-19 and during increased market volatility, and we’re taking extra steps to be responsive to customer needs. We encourage you to visit our websites, where we offer ongoing updates, commentary, and analysis on the markets and our funds.
Fidelity Advisor Freedom® Income Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Class A (incl. 5.75% sales charge) | 6.89% | 4.24% | 3.57% |
| Class M (incl. 3.50% sales charge) | 9.11% | 4.48% | 3.55% |
| Class C (incl. contingent deferred sales charge) | 11.49% | 4.68% | 3.39% |
| Class I | 13.72% | 5.74% | 4.44% |
| Class Z | 13.72% | 5.76% | 4.45% |
| Class Z6 | 13.87% | 5.83% | 4.48% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class Z shares took place on October 2, 2018. Returns prior to October 2, 2018 are those of Class I.
The initial offering of Class Z6 shares took place on June 6, 2017. Returns prior to June 6, 2017 are those of Class I.
Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom® Income Fund - Class A on March 31, 2011, and the current 5.75% sales charge was paid.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $14,195 | Fidelity Advisor Freedom® Income Fund - Class A |
| $14,025 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Advisor Freedom® 2005 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Class A (incl. 5.75% sales charge) | 9.62% | 5.21% | 4.35% |
| Class M (incl. 3.50% sales charge) | 12.00% | 5.44% | 4.33% |
| Class C (incl. contingent deferred sales charge) | 14.42% | 5.67% | 4.18% |
| Class I | 16.62% | 6.73% | 5.22% |
| Class Z | 16.59% | 6.75% | 5.23% |
| Class Z6 | 16.72% | 6.82% | 5.27% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class Z shares took place on October 2, 2018. Returns prior to October 2, 2018 are those of Class I.
The initial offering of Class Z6 shares took place on June 6, 2017. Returns prior to June 6, 2017 are those of Class I.
Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom® 2005 Fund - Class A on March 31, 2011, and the current 5.75% sales charge was paid.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $15,309 | Fidelity Advisor Freedom® 2005 Fund - Class A |
| $14,025 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Advisor Freedom® 2010 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Class A (incl. 5.75% sales charge) | 14.30% | 6.32% | 5.25% |
| Class M (incl. 3.50% sales charge) | 16.67% | 6.55% | 5.23% |
| Class C (incl. contingent deferred sales charge) | 19.36% | 6.79% | 5.09% |
| Class I | 21.50% | 7.86% | 6.14% |
| Class Z | 21.71% | 7.89% | 6.16% |
| Class Z6 | 21.67% | 7.96% | 6.19% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class Z shares took place on October 2, 2018. Returns prior to October 2, 2018 are those of Class I.
The initial offering of Class Z6 shares took place on June 6, 2017. Returns prior to June 6, 2017 are those of Class I.
Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom® 2010 Fund - Class A on March 31, 2011, and the current 5.75% sales charge was paid.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $16,673 | Fidelity Advisor Freedom® 2010 Fund - Class A |
| $14,025 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Advisor Freedom® 2015 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Class A (incl. 5.75% sales charge) | 19.18% | 7.42% | 5.88% |
| Class M (incl. 3.50% sales charge) | 21.72% | 7.65% | 5.86% |
| Class C (incl. contingent deferred sales charge) | 24.36% | 7.86% | 5.71% |
| Class I | 26.71% | 8.97% | 6.77% |
| Class Z | 26.82% | 9.01% | 6.79% |
| Class Z6 | 26.84% | 9.08% | 6.83% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class Z shares took place on October 2, 2018. Returns prior to October 2, 2018 are those of Class I.
The initial offering of Class Z6 shares took place on June 6, 2017. Returns prior to June 6, 2017 are those of Class I.
Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom® 2015 Fund - Class A on March 31, 2011, and the current 5.75% sales charge was paid.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $17,701 | Fidelity Advisor Freedom® 2015 Fund - Class A |
| $14,025 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Advisor Freedom® 2020 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Class A (incl. 5.75% sales charge) | 23.83% | 8.29% | 6.38% |
| Class M (incl. 3.50% sales charge) | 26.49% | 8.52% | 6.36% |
| Class C (incl. contingent deferred sales charge) | 29.36% | 8.76% | 6.22% |
| Class I | 31.70% | 9.84% | 7.28% |
| Class Z | 31.82% | 9.88% | 7.30% |
| Class Z6 | 31.94% | 9.99% | 7.35% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class Z shares took place on October 2, 2018. Returns prior to October 2, 2018 are those of Class I.
The initial offering of Class Z6 shares took place on June 6, 2017. Returns prior to June 6, 2017 are those of Class I.
Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom® 2020 Fund - Class A on March 31, 2011, and the current 5.75% sales charge was paid.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $18,567 | Fidelity Advisor Freedom® 2020 Fund - Class A |
| $36,788 | S&P 500® Index |
Fidelity Advisor Freedom® 2025 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Class A (incl. 5.75% sales charge) | 27.44% | 9.01% | 6.99% |
| Class M (incl. 3.50% sales charge) | 30.13% | 9.25% | 6.98% |
| Class C (incl. contingent deferred sales charge) | 33.28% | 9.48% | 6.83% |
| Class I | 35.57% | 10.58% | 7.89% |
| Class Z | 35.65% | 10.62% | 7.91% |
| Class Z6 | 35.82% | 10.75% | 7.97% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class Z shares took place on October 2, 2018. Returns prior to October 2, 2018 are those of Class I.
The initial offering of Class Z6 shares took place on June 6, 2017. Returns prior to June 6, 2017 are those of Class I.
Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom® 2025 Fund - Class A on March 31, 2011, and the current 5.75% sales charge was paid.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $19,658 | Fidelity Advisor Freedom® 2025 Fund - Class A |
| $36,788 | S&P 500® Index |
Fidelity Advisor Freedom® 2030 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Class A (incl. 5.75% sales charge) | 32.43% | 10.27% | 7.65% |
| Class M (incl. 3.50% sales charge) | 35.25% | 10.51% | 7.64% |
| Class C (incl. contingent deferred sales charge) | 38.41% | 10.75% | 7.49% |
| Class I | 40.77% | 11.86% | 8.57% |
| Class Z | 41.01% | 11.92% | 8.59% |
| Class Z6 | 41.14% | 12.05% | 8.66% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class Z shares took place on October 2, 2018. Returns prior to October 2, 2018 are those of Class I.
The initial offering of Class Z6 shares took place on June 6, 2017. Returns prior to June 6, 2017 are those of Class I.
Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom® 2030 Fund - Class A on March 31, 2011, and the current 5.75% sales charge was paid.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $20,908 | Fidelity Advisor Freedom® 2030 Fund - Class A |
| $36,788 | S&P 500® Index |
Fidelity Advisor Freedom® 2035 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Class A (incl. 5.75% sales charge) | 41.12% | 11.59% | 8.39% |
| Class M (incl. 3.50% sales charge) | 44.04% | 11.83% | 8.37% |
| Class C (incl. contingent deferred sales charge) | 47.61% | 12.08% | 8.22% |
| Class I | 49.99% | 13.19% | 9.30% |
| Class Z | 50.19% | 13.25% | 9.33% |
| Class Z6 | 50.43% | 13.40% | 9.40% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class Z shares took place on October 2, 2018. Returns prior to October 2, 2018 are those of Class I.
The initial offering of Class Z6 shares took place on June 6, 2017. Returns prior to June 6, 2017 are those of Class I.
Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom® 2035 Fund - Class A on March 31, 2011, and the current 5.75% sales charge was paid.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $22,385 | Fidelity Advisor Freedom® 2035 Fund - Class A |
| $36,788 | S&P 500® Index |
Fidelity Advisor Freedom® 2040 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Class A (incl. 5.75% sales charge) | 46.39% | 12.06% | 8.64% |
| Class M (incl. 3.50% sales charge) | 49.53% | 12.31% | 8.62% |
| Class C (incl. contingent deferred sales charge) | 53.12% | 12.55% | 8.47% |
| Class I | 55.69% | 13.69% | 9.56% |
| Class Z | 55.80% | 13.75% | 9.59% |
| Class Z6 | 56.14% | 13.90% | 9.66% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class Z shares took place on October 2, 2018. Returns prior to October 2, 2018 are those of Class I.
The initial offering of Class Z6 shares took place on June 6, 2017. Returns prior to June 6, 2017 are those of Class I.
Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom® 2040 Fund - Class A on March 31, 2011, and the current 5.75% sales charge was paid.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $22,904 | Fidelity Advisor Freedom® 2040 Fund - Class A |
| $36,788 | S&P 500® Index |
Fidelity Advisor Freedom® 2045 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Class A (incl. 5.75% sales charge) | 46.46% | 12.07% | 8.68% |
| Class M (incl. 3.50% sales charge) | 49.42% | 12.31% | 8.66% |
| Class C (incl. contingent deferred sales charge) | 53.24% | 12.56% | 8.51% |
| Class I | 55.77% | 13.69% | 9.60% |
| Class Z | 55.85% | 13.74% | 9.63% |
| Class Z6 | 56.12% | 13.90% | 9.71% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class Z6 shares took place on June 6, 2017. Returns prior to June 6, 2017 are those of Class I.
The initial offering of Class Z shares took place on October 2, 2018. Returns prior to October 2, 2018 are those of Class I.
Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom® 2045 Fund - Class A on March 31, 2011, and the current 5.75% sales charge was paid.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $22,981 | Fidelity Advisor Freedom® 2045 Fund - Class A |
| $36,788 | S&P 500® Index |
Fidelity Advisor Freedom® 2050 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Class A (incl. 5.75% sales charge) | 46.34% | 12.07% | 8.66% |
| Class M (incl. 3.50% sales charge) | 49.49% | 12.30% | 8.64% |
| Class C (incl. contingent deferred sales charge) | 53.09% | 12.55% | 8.47% |
| Class I | 55.65% | 13.68% | 9.58% |
| Class Z | 55.96% | 13.75% | 9.61% |
| Class Z6 | 56.00% | 13.88% | 9.67% |
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class Z6 shares took place on June 6, 2017. Returns prior to June 6, 2017 are those of Class I.
The initial offering of Class Z shares took place on October 2, 2018. Returns prior to October 2, 2018 are those of Class I.
Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom® 2050 Fund - Class A on March 31, 2011, and the current 5.75% sales charge was paid.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $22,937 | Fidelity Advisor Freedom® 2050 Fund - Class A |
| $36,788 | S&P 500® Index |
Fidelity Advisor Freedom® 2055 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Past 5 years | Life of fundA |
| Class A (incl. 5.75% sales charge) | 46.38% | 12.06% | 8.94% |
| Class M (incl. 3.50% sales charge) | 49.45% | 12.32% | 8.93% |
| Class C (incl. contingent deferred sales charge) | 53.07% | 12.54% | 8.77% |
| Class I | 55.72% | 13.67% | 9.87% |
| Class Z | 55.82% | 13.74% | 9.90% |
| Class Z6 | 56.14% | 13.89% | 9.97% |
A From June 1, 2011
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
The initial offering of Class Z6 shares took place on June 6, 2017. Returns prior to June 6, 2017 are those of Class I.
The initial offering of Class Z shares took place on October 2, 2018. Returns prior to October 2, 2018 are those of Class I.
Class C shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 1%, 0%, and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom® 2055 Fund - Class A on June 1, 2011, when the fund started, and the current 5.75% sales charge was paid.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $23,221 | Fidelity Advisor Freedom® 2055 Fund - Class A |
| $36,978 | S&P 500® Index |
Fidelity Advisor Freedom® 2060 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Past 5 years | Life of fundA |
| Class A (incl. 5.75% sales charge) | 46.35% | 12.06% | 9.11% |
| Class M (incl. 3.50% sales charge) | 49.57% | 12.31% | 9.23% |
| Class C (incl. contingent deferred sales charge) | 53.14% | 12.54% | 9.27% |
| Class I | 55.62% | 13.67% | 10.37% |
| Class Z | 55.88% | 13.74% | 10.42% |
| Class Z6 | 56.12% | 13.88% | 10.52% |
A From August 5, 2014
Prior to June 1, 2017, the fund operated under a different pricing structure. The fund’s historical performance prior to June 1, 2017 does not reflect the fund’s current pricing structure.
Class C shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 1%, 0%, and 0%, respectively.
The initial offering of Class Z shares took place on October 2, 2018. Returns prior to October 2, 2018 are those of Class I.
The initial offering of Class Z6 shares took place on June 6, 2017. Returns prior to June 6, 2017 are those of Class I.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom® 2060 Fund - Class A on August 5, 2014, when the fund started, and the current 5.75% sales charge was paid.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $17,873 | Fidelity Advisor Freedom® 2060 Fund - Class A |
| $23,643 | S&P 500® Index |
Fidelity Advisor Freedom® 2065 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Class A (incl. 5.75% sales charge) | 46.24% | 14.06% |
| Class M (incl. 3.50% sales charge) | 49.32% | 15.33% |
| Class C (incl. contingent deferred sales charge) | 52.95% | 17.10% |
| Class I | 55.68% | 18.32% |
| Class Z | 55.80% | 18.45% |
| Class Z6 | 55.97% | 18.61% |
A From June 28, 2019
Class C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom® 2065 Fund - Class A on June 28, 2019, when the fund started, and the current 5.75% sales charge was paid.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $12,589 | Fidelity Advisor Freedom® 2065 Fund - Class A |
| $13,944 | S&P 500® Index |
Management's Discussion of Fund Performance
Market Recap: For the 12 months ending March 31, 2021, global financial markets were influenced by a number of factors, including elevated volatility resulting from the early-2020 outbreak and spread of COVID-19. The pandemic coincided with equities suffering one of the quickest declines on record, followed by a historic rebound through March 31, driven by global economies reopening, ongoing fiscal and monetary stimulus, and the widespread distribution of COVID-19 vaccines. Many economists raised their expectations for a powerful recovery, as opposed to the sluggish rebound they had been anticipating. In the first quarter of 2021, riskier asset prices and bond yields rose amid the progressing global recovery.
Within this environment, the MSCI ACWI (All Country World Index) ex USA Index gained 49.62% for the 12 months. Canada (+61%) and emerging markets (+59%) fared best among regions. Asia Pacific ex Japan (+52%) also topped the broader market. Conversely, the U.K. (+34%) and Japan (+40%) notably lagged and Europe ex U.K. gained about 50%. By sector, information technology (+83%) led the way, boosted by the semiconductors & semiconductor equipment group (+128%). Materials (+77%), consumer discretionary (+66%) and industrials (+58%) also outperformed. In contrast, notable laggards included four defensive sectors: consumer staples and health care (+23% each) and utilities and real estate (+29% each).
The Dow Jones U.S. Total Stock Market Index gained 62.68% the past 12 months. Among sectors, economically sensitive groups fared best, led by consumer discretionary (+98%), energy and materials (+83% each), industrials (+74%), and information technology (+70%). In contrast, utilities (+19%) fared worst by a wide margin, followed by consumer staples (+31%). Small-cap stocks, as measured by the Russell 2000
® Index (+94.85%), handily topped the large-cap-oriented S&P 500
® index (+56.35%) the past 12 months. From a style standpoint, value stocks outpaced growth in the smaller-cap segment of the broader market, while growth topped value among large-caps. Commodities, as measured by the Bloomberg Barclays Commodity Index Total Return, rose 35.04%.
Within fixed income, U.S. taxable investment-grade bonds, as measured by the Bloomberg Barclays U.S. Aggregate Bond Index, gained 0.71% the past 12 months. Treasury Inflation-Protected Securities (+8.12%) and corporate bonds (+7.88%) outperformed the broader investment-grade bond index. Long-term (-15.80%) and short-term (+0.13%) U.S. Treasuries underperformed, as did government-related securities (-4.26%). Commercial mortgage-backed securities (+4.36%) and asset-backed securities (+4.57%) each lagged, whereas leveraged loans (+21.93%), high-yield bonds (+20.31%) and emerging-market debt (+14.29%) stood out.
Comments from Co-Portfolio Managers Andrew Dierdorf and Brett Sumsion: For the fiscal year, the Class I shares of each Fidelity Advisor Freedom
® Fund posted a gain, ranging from 13.72% for Fidelity Advisor Freedom Income Fund to 55.77% for Fidelity Advisor Freedom 2045 Fund. Each Fund outperformed its Composite index the past 12 months. Security selection among the underlying investment portfolios primarily drove the Funds’ outperformance of Composite indexes. Active asset allocation decisions boosted the Funds' relative results to a lesser extent. Specifically, strong performance among underlying investment-grade bond funds notably contributed. Here, an investment in Fidelity
® Series Investment Grade Bond Fund (+6.51%) helped, as this fund topped the 0.71% return of the Bloomberg Barclays U.S. Aggregate Bond Index. U.S. equity fund investments also contributed. In this asset class, Fidelity Advisor
® Series Growth Opportunities Fund (+104.63%) was the top contributor, outperforming the 64.31% advance of its benchmark, the Russell 3000
® Growth Index. Investments in Fidelity
® Series Large Cap Fund (+62.98%) also added considerable value. Active management among non-U.S. equities also helped the Funds outperform Composites. Fidelity
® Series Emerging Markets Fund (+69.89%) was a key outperformer, besting the 58.41% advance of its benchmark, the MSCI Emerging Markets Index. In terms of active asset allocation, underweighting investment-grade bonds contributed most, as this asset class lagged most others in which the Funds invest. The Funds' relative performance also got a boost from overweighting non-U.S. equities, particularly emerging-markets equities. Conversely, underweighting U.S. equities detracted most. Overweighting short-term debt securities and inflation-protected debt securities also held back relative performance.
The views expressed above reflect those of the portfolio manager(s) only through the end of the period as stated on the cover of this report and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity fund.
Fidelity Advisor Freedom® Income Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 38.5 |
| Fidelity Series Government Money Market Fund 0.08% | 19.2 |
| Fidelity Series Inflation-Protected Bond Index Fund | 12.0 |
| Fidelity Series Emerging Markets Opportunities Fund | 6.4 |
| Fidelity Series Short-Term Credit Fund | 4.0 |
| Fidelity Series Commodity Strategy Fund | 2.7 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2.7 |
| Fidelity Series Overseas Fund | 1.5 |
| Fidelity Series International Growth Fund | 1.4 |
| Fidelity Series International Value Fund | 1.4 |
| | 89.8 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 9.2% |
| | International Equity Funds | 12.4% |
| | Bond Funds | 55.1% |
| | Short-Term Funds | 23.3% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Advisor Freedom® Income Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.08% to 0.08% 4/1/21 to 4/22/21 | | | |
| (Cost $89,998) | | 90,000 | 90,000 |
| | | Shares | Value |
|
| Domestic Equity Funds - 9.2% | | | |
| Fidelity Advisor Series Equity Growth Fund (a) | | 117,926 | $1,963,475 |
| Fidelity Advisor Series Growth Opportunities Fund (a) | | 80,943 | 1,365,514 |
| Fidelity Advisor Series Small Cap Fund (a) | | 58,199 | 888,116 |
| Fidelity Series All-Sector Equity Fund (a) | | 71,544 | 839,210 |
| Fidelity Series Commodity Strategy Fund (a) | | 1,337,045 | 6,551,523 |
| Fidelity Series Large Cap Stock Fund (a) | | 166,111 | 3,064,744 |
| Fidelity Series Large Cap Value Index Fund (a) | | 22,516 | 330,754 |
| Fidelity Series Opportunistic Insights Fund (a) | | 89,533 | 1,820,213 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 61,853 | 1,096,039 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 136,004 | 1,940,778 |
| Fidelity Series Value Discovery Fund (a) | | 124,802 | 1,986,849 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $15,952,223) | | | 21,847,215 |
|
| International Equity Funds - 12.4% | | | |
| Fidelity Series Canada Fund (a) | | 95,442 | 1,218,792 |
| Fidelity Series Emerging Markets Fund (a) | | 142,957 | 1,671,168 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 597,086 | 15,321,215 |
| Fidelity Series International Growth Fund (a) | | 190,375 | 3,415,325 |
| Fidelity Series International Small Cap Fund (a) | | 52,230 | 1,082,206 |
| Fidelity Series International Value Fund (a) | | 314,424 | 3,411,504 |
| Fidelity Series Overseas Fund (a) | | 271,295 | 3,421,024 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $19,278,981) | | | 29,541,234 |
|
| Bond Funds - 55.1% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 139,922 | 1,270,488 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 41,291 | 413,737 |
| Fidelity Series Floating Rate High Income Fund (a) | | 27,848 | 255,922 |
| Fidelity Series High Income Fund (a) | | 160,810 | 1,508,394 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 2,663,340 | 28,604,275 |
| Fidelity Series International Credit Fund (a) | | 13,437 | 134,105 |
| Fidelity Series Investment Grade Bond Fund (a) | | 7,971,111 | 91,906,911 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 817,136 | 6,455,375 |
| Fidelity Series Real Estate Income Fund (a) | | 82,123 | 907,464 |
| TOTAL BOND FUNDS | | | |
| (Cost $125,098,193) | | | 131,456,671 |
|
| Short-Term Funds - 23.3% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 145,480 | 145,509 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 45,852,734 | 45,852,734 |
| Fidelity Series Short-Term Credit Fund (a) | | 949,344 | 9,654,824 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $55,435,373) | | | 55,653,067 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $215,854,768) | | | 238,588,187 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (110,886) |
| NET ASSETS - 100% | | | $238,477,301 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $649 |
| Total | $649 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Advisor Series Equity Growth Fund | $1,456,870 | $1,207,802 | $1,319,782 | $431,484 | $215,794 | $402,791 | $1,963,475 |
| Fidelity Advisor Series Growth Opportunities Fund | 680,454 | 1,213,387 | 1,065,094 | 352,443 | 153,025 | 383,742 | 1,365,514 |
| Fidelity Advisor Series Small Cap Fund | 496,538 | 534,453 | 613,720 | 29,801 | 69,490 | 401,355 | 888,116 |
| Fidelity Series All-Sector Equity Fund | 612,895 | 455,899 | 546,366 | 98,132 | 37,495 | 279,287 | 839,210 |
| Fidelity Series Canada Fund | 807,963 | 417,434 | 505,540 | 25,089 | (561) | 499,496 | 1,218,792 |
| Fidelity Series Commodity Strategy Fund | 7,094,346 | 1,691,375 | 3,987,985 | 28,095 | (1,197,293) | 2,951,080 | 6,551,523 |
| Fidelity Series Emerging Markets Debt Fund | 1,336,326 | 272,101 | 517,312 | 72,646 | (18,937) | 198,310 | 1,270,488 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 486,967 | 65,254 | 6,469 | 1,322 | (9,298) | 413,737 |
| Fidelity Series Emerging Markets Fund | 870,605 | 701,787 | 646,037 | 24,660 | 49,063 | 695,750 | 1,671,168 |
| Fidelity Series Emerging Markets Opportunities Fund | 8,297,125 | 6,688,141 | 6,480,716 | 474,943 | 873,138 | 5,943,527 | 15,321,215 |
| Fidelity Series Floating Rate High Income Fund | 318,977 | 62,586 | 171,787 | 14,870 | (9,188) | 55,334 | 255,922 |
| Fidelity Series Government Money Market Fund 0.08% | 44,857,683 | 16,001,011 | 15,005,960 | 79,338 | -- | -- | 45,852,734 |
| Fidelity Series High Income Fund | 1,426,045 | 330,546 | 450,442 | 88,316 | 7,617 | 194,628 | 1,508,394 |
| Fidelity Series Inflation-Protected Bond Index Fund | 26,028,896 | 5,796,735 | 4,941,797 | 377,532 | 24,692 | 1,695,749 | 28,604,275 |
| Fidelity Series International Credit Fund | 119,792 | 9,210 | -- | 9,210 | -- | 5,103 | 134,105 |
| Fidelity Series International Growth Fund | 4,340,763 | 1,045,700 | 2,873,478 | 506,442 | 824,397 | 77,943 | 3,415,325 |
| Fidelity Series International Small Cap Fund | 1,041,709 | 155,543 | 582,836 | 9,347 | 104,963 | 362,827 | 1,082,206 |
| Fidelity Series International Value Fund | 3,622,634 | 689,303 | 2,394,058 | 100,169 | 20,100 | 1,473,525 | 3,411,504 |
| Fidelity Series Investment Grade Bond Fund | 83,054,476 | 23,768,936 | 14,608,853 | 5,588,305 | (40,326) | (267,322) | 91,906,911 |
| Fidelity Series Large Cap Stock Fund | 1,779,891 | 2,103,876 | 1,891,610 | 193,944 | 43,114 | 1,029,473 | 3,064,744 |
| Fidelity Series Large Cap Value Index Fund | 189,580 | 170,475 | 156,080 | 7,159 | 22,065 | 104,714 | 330,754 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 5,399,057 | 4,007,607 | 1,320,736 | 618,383 | 62,989 | (1,693,542) | 6,455,375 |
| Fidelity Series Opportunistic Insights Fund | 1,409,926 | 937,618 | 1,067,557 | 282,547 | 186,455 | 353,771 | 1,820,213 |
| Fidelity Series Overseas Fund | 3,280,261 | 941,937 | 2,172,259 | 40,457 | 7,167 | 1,363,918 | 3,421,024 |
| Fidelity Series Real Estate Income Fund | 856,974 | 216,794 | 430,879 | 66,005 | 10,490 | 254,085 | 907,464 |
| Fidelity Series Short-Term Credit Fund | 10,251,480 | 941,437 | 1,845,583 | 243,625 | 30,981 | 276,509 | 9,654,824 |
| Fidelity Series Small Cap Opportunities Fund | 620,453 | 664,242 | 734,805 | 25,350 | 86,503 | 459,646 | 1,096,039 |
| Fidelity Series Stock Selector Large Cap Value Fund | 1,140,351 | 932,724 | 959,252 | 44,637 | 95,523 | 731,432 | 1,940,778 |
| Fidelity Series Value Discovery Fund | 1,128,277 | 1,069,348 | 1,023,723 | 44,486 | 88,365 | 724,582 | 1,986,849 |
| | $212,520,347 | $73,514,974 | $68,379,501 | $9,883,884 | $1,748,443 | $18,948,415 | $238,352,678 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments and Net Other Assets | $90,000 | $-- | $90,000 | $-- |
| Domestic Equity Funds | 21,847,215 | 21,847,215 | -- | -- |
| International Equity Funds | 29,541,234 | 29,541,234 | -- | -- |
| Bond Funds | 131,456,671 | 131,456,671 | -- | -- |
| Short-Term Funds | 55,653,067 | 55,653,067 | -- | -- |
| Total Investments in Securities: | $238,588,187 | $238,498,187 | $90,000 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® Income Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $89,998) | $90,000 | |
| Fidelity Central Funds (cost $145,509) | 145,509 | |
| Other affiliated issuers (cost $215,619,261) | 238,352,678 | |
| Total Investment in Securities (cost $215,854,768) | | $238,588,187 |
| Cash | | 14,860 |
| Receivable for investments sold | | 1,416,559 |
| Receivable for fund shares sold | | 178,864 |
| Distributions receivable from Fidelity Central Funds | | 7 |
| Receivable for daily variation margin on futures contracts | | 2,453 |
| Total assets | | 240,200,930 |
| Liabilities | | |
| Payable for investments purchased | $1,306,159 | |
| Payable for fund shares redeemed | 289,317 | |
| Accrued management fee | 90,542 | |
| Distribution and service plan fees payable | 37,611 | |
| Total liabilities | | 1,723,629 |
| Net Assets | | $238,477,301 |
| Net Assets consist of: | | |
| Paid in capital | | $212,102,148 |
| Total accumulated earnings (loss) | | 26,375,153 |
| Net Assets | | $238,477,301 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($73,934,926 ÷ 6,436,944 shares)(a) | | $11.49 |
| Maximum offering price per share (100/94.25 of $11.49) | | $12.19 |
| Class M: | | |
| Net Asset Value and redemption price per share ($36,005,606 ÷ 3,138,965 shares)(a) | | $11.47 |
| Maximum offering price per share (100/96.50 of $11.47) | | $11.89 |
| Class C: | | |
| Net Asset Value and offering price per share ($8,254,666 ÷ 722,032 shares)(a) | | $11.43 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($87,775,333 ÷ 7,613,355 shares) | | $11.53 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($8,919,416 ÷ 774,394 shares) | | $11.52 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($23,587,354 ÷ 2,048,144 shares) | | $11.52 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $3,544,250 |
| Interest | | 316 |
| Income from Fidelity Central Funds | | 649 |
| Total income | | 3,545,215 |
| Expenses | | |
| Management fee | $1,064,208 | |
| Distribution and service plan fees | 445,291 | |
| Independent trustees' fees and expenses | 683 | |
| Total expenses before reductions | 1,510,182 | |
| Expense reductions | (244) | |
| Total expenses after reductions | | 1,509,938 |
| Net investment income (loss) | | 2,035,277 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (72) | |
| Other affiliated issuers | 1,748,443 | |
| Futures contracts | (142,502) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 6,339,634 | |
| Total net realized gain (loss) | | 7,945,503 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (134) | |
| Fidelity Central Funds | (3) | |
| Other affiliated issuers | 18,948,415 | |
| Total change in net unrealized appreciation (depreciation) | | 18,948,278 |
| Net gain (loss) | | 26,893,781 |
| Net increase (decrease) in net assets resulting from operations | | $28,929,058 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $2,035,277 | $3,882,218 |
| Net realized gain (loss) | 7,945,503 | 4,761,960 |
| Change in net unrealized appreciation (depreciation) | 18,948,278 | (6,103,407) |
| Net increase (decrease) in net assets resulting from operations | 28,929,058 | 2,540,771 |
| Distributions to shareholders | (8,450,575) | (8,121,516) |
| Share transactions - net increase (decrease) | 4,537,128 | (6,510,541) |
| Total increase (decrease) in net assets | 25,015,611 | (12,091,286) |
| Net Assets | | |
| Beginning of period | 213,461,690 | 225,552,976 |
| End of period | $238,477,301 | $213,461,690 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Advisor Freedom Income Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.50 | $10.76 | $11.01 | $10.94 | $10.64 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .09 | .18 | .20 | .15 | .16 |
| Net realized and unrealized gain (loss) | 1.30 | (.06)B | .12 | .34 | .44 |
| Total from investment operations | 1.39 | .12 | .32 | .49 | .60 |
| Distributions from net investment income | (.11) | (.18) | (.19) | (.15) | (.16)C |
| Distributions from net realized gain | (.30) | (.20) | (.38) | (.26) | (.14)C |
| Total distributions | (.40)D | (.38) | (.57) | (.42)D | (.30) |
| Net asset value, end of period | $11.49 | $10.50 | $10.76 | $11.01 | $10.94 |
| Total ReturnE,F | 13.41% | 1.04%B | 3.14% | 4.47% | 5.74% |
| Ratios to Average Net AssetsG,H | | | | | |
| Expenses before reductions | .72% | .72% | .71%I | .63% | .25% |
| Expenses net of fee waivers, if any | .72% | .72% | .71%I | .63% | .25% |
| Expenses net of all reductions | .72% | .72% | .71%I | .63% | .25% |
| Net investment income (loss) | .80% | 1.64% | 1.84% | 1.38% | 1.47% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $73,935 | $61,807 | $69,817 | $76,141 | $87,983 |
| Portfolio turnover rateJ | 29% | 25% | 36% | 21% | 38% |
A Calculated based on average shares outstanding during the period.
B Amount includes a gain realized from an operational error which amounted to $0.01 per share. Excluding this gain, the total return would have been 0.93%.
C The amounts shown reflect certain reclassifications related to book to tax differences that were made in the year shown.
D Total distributions per share do not sum due to rounding.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Total returns do not include the effect of the sales charges.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom Income Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.49 | $10.74 | $11.00 | $10.93 | $10.62 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .06 | .15 | .17 | .13 | .13 |
| Net realized and unrealized gain (loss) | 1.30 | (.04)B | .12 | .33 | .45 |
| Total from investment operations | 1.36 | .11 | .29 | .46 | .58 |
| Distributions from net investment income | (.08) | (.16) | (.17) | (.13) | (.13)C |
| Distributions from net realized gain | (.30) | (.20) | (.38) | (.26) | (.14)C |
| Total distributions | (.38) | (.36) | (.55) | (.39) | (.27) |
| Net asset value, end of period | $11.47 | $10.49 | $10.74 | $11.00 | $10.93 |
| Total ReturnD,E | 13.06% | .90%B | 2.78% | 4.22% | 5.56% |
| Ratios to Average Net AssetsF,G | | | | | |
| Expenses before reductions | .96%H | .97% | .96%H | .89% | .50% |
| Expenses net of fee waivers, if any | .96%H | .97% | .96%H | .89% | .50% |
| Expenses net of all reductions | .96%H | .97% | .96%H | .89% | .50% |
| Net investment income (loss) | .55% | 1.39% | 1.59% | 1.13% | 1.22% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $36,006 | $36,147 | $38,059 | $38,204 | $38,513 |
| Portfolio turnover rateI | 29% | 25% | 36% | 21% | 38% |
A Calculated based on average shares outstanding during the period.
B Amount includes a gain realized from an operational error which amounted to $0.01 per share. Excluding this gain, the total return would have been 0.79%.
C The amounts shown reflect certain reclassifications related to book to tax differences that were made in the year shown.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom Income Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.47 | $10.73 | $10.98 | $10.91 | $10.61 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .01 | .10 | .12 | .07 | .08 |
| Net realized and unrealized gain (loss) | 1.29 | (.06)B | .12 | .33 | .44 |
| Total from investment operations | 1.30 | .04 | .24 | .40 | .52 |
| Distributions from net investment income | (.04) | (.10) | (.11) | (.07) | (.08)C |
| Distributions from net realized gain | (.30) | (.20) | (.38) | (.26) | (.14)C |
| Total distributions | (.34) | (.30) | (.49) | (.33) | (.22) |
| Net asset value, end of period | $11.43 | $10.47 | $10.73 | $10.98 | $10.91 |
| Total ReturnD,E | 12.49% | .30%B | 2.35% | 3.69% | 4.99% |
| Ratios to Average Net AssetsF,G | | | | | |
| Expenses before reductions | 1.47% | 1.46%H | 1.46%H | 1.39% | 1.00% |
| Expenses net of fee waivers, if any | 1.47% | 1.46%H | 1.46%H | 1.39% | 1.00% |
| Expenses net of all reductions | 1.46% | 1.46%H | 1.46%H | 1.39% | 1.00% |
| Net investment income (loss) | .05% | .89% | 1.09% | .63% | .72% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $8,255 | $7,918 | $8,915 | $13,727 | $14,434 |
| Portfolio turnover rateI | 29% | 25% | 36% | 21% | 38% |
A Calculated based on average shares outstanding during the period.
B Amount includes a gain realized from an operational error which amounted to $0.01 per share. Excluding this gain, the total return would have been 0.19%.
C The amounts shown reflect certain reclassifications related to book to tax differences that were made in the year shown.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the contingent deferred sales charge.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom Income Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.53 | $10.79 | $11.05 | $10.98 | $10.67 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .12 | .21 | .23 | .18 | .19 |
| Net realized and unrealized gain (loss) | 1.31 | (.06)B | .11 | .33 | .45 |
| Total from investment operations | 1.43 | .15 | .34 | .51 | .64 |
| Distributions from net investment income | (.13) | (.21) | (.22) | (.18) | (.19)C |
| Distributions from net realized gain | (.30) | (.20) | (.38) | (.26) | (.14)C |
| Total distributions | (.43) | (.41) | (.60) | (.44) | (.33) |
| Net asset value, end of period | $11.53 | $10.53 | $10.79 | $11.05 | $10.98 |
| Total ReturnD | 13.72% | 1.30%B | 3.30% | 4.70% | 6.07% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .46%G | .47% | .46%G | .39% | - %H |
| Expenses net of fee waivers, if any | .46%G | .47% | .46%G | .39% | -% |
| Expenses net of all reductions | .46%G | .47% | .46%G | .39% | -% |
| Net investment income (loss) | 1.05% | 1.89% | 2.09% | 1.63% | 1.72% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $87,775 | $83,215 | $82,975 | $83,723 | $81,839 |
| Portfolio turnover rateI | 29% | 25% | 36% | 21% | 38% |
A Calculated based on average shares outstanding during the period.
B Amount includes a gain realized from an operational error which amounted to $0.01 per share. Excluding this gain, the total return would have been 1.19%.
C The amounts shown reflect certain reclassifications related to book to tax differences that were made in the year shown.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount represents less than .005%.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom Income Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $10.53 | $10.79 | $10.91 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .21 | .24 |
| Net realized and unrealized gain (loss) | 1.31 | (.05)C | .01 |
| Total from investment operations | 1.43 | .16 | .25 |
| Distributions from net investment income | (.14) | (.22) | (.15) |
| Distributions from net realized gain | (.30) | (.20) | (.22) |
| Total distributions | (.44) | (.42) | (.37) |
| Net asset value, end of period | $11.52 | $10.53 | $10.79 |
| Total ReturnD,E | 13.72% | 1.36%C | 2.47% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .42% | .42% | .42%H |
| Expenses net of fee waivers, if any | .42% | .42% | .42%H |
| Expenses net of all reductions | .42% | .42% | .42%H |
| Net investment income (loss) | 1.10% | 1.94% | 4.60%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $8,919 | $3,128 | $765 |
| Portfolio turnover rateI | 29% | 25% | 36% |
A For the period October 2, 2018 (commencement of sale of shares) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount includes a gain realized from an operational error which amounted to $0.01 per share. Excluding this gain, the total return would have been 1.25%.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom Income Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $10.52 | $10.78 | $11.04 | $11.09 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .13 | .22 | .23 | .27 |
| Net realized and unrealized gain (loss) | 1.31 | (.06)C | .13 | .03 |
| Total from investment operations | 1.44 | .16 | .36 | .30 |
| Distributions from net investment income | (.14) | (.22) | (.24) | (.16) |
| Distributions from net realized gain | (.30) | (.20) | (.38) | (.19) |
| Total distributions | (.44) | (.42) | (.62) | (.35) |
| Net asset value, end of period | $11.52 | $10.52 | $10.78 | $11.04 |
| Total ReturnD,E | 13.87% | 1.38%C | 3.48% | 2.69% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .37% | .36%H | .37% | .37%I |
| Expenses net of fee waivers, if any | .37% | .36%H | .37% | .37%I |
| Expenses net of all reductions | .37% | .36%H | .37% | .37%I |
| Net investment income (loss) | 1.15% | 1.99% | 2.19% | 2.92%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $23,587 | $21,248 | $25,022 | $1,693 |
| Portfolio turnover rateJ | 29% | 25% | 36% | 21% |
A For the period June 6, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Amount includes a gain realized from an operational error which amounted to $0.01 per share. Excluding this gain, the total return would have been 1.27%.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2005 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 37.1 |
| Fidelity Series Government Money Market Fund 0.08% | 17.5 |
| Fidelity Series Inflation-Protected Bond Index Fund | 11.2 |
| Fidelity Series Emerging Markets Opportunities Fund | 6.9 |
| Fidelity Series Short-Term Credit Fund | 3.7 |
| Fidelity Series Commodity Strategy Fund | 2.7 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2.7 |
| Fidelity Series Large Cap Stock Fund | 1.8 |
| Fidelity Series Overseas Fund | 1.8 |
| Fidelity Series International Growth Fund | 1.8 |
| | 87.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 11.7% |
| | International Equity Funds | 14.1% |
| | Bond Funds | 52.9% |
| | Short-Term Funds | 21.3% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Advisor Freedom® 2005 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.07% to 0.08% 4/1/21 to 4/29/21 | | | |
| (Cost $79,998) | | 80,000 | 80,000 |
| | | Shares | Value |
|
| Domestic Equity Funds - 11.7% | | | |
| Fidelity Advisor Series Equity Growth Fund (a) | | 112,850 | $1,878,960 |
| Fidelity Advisor Series Growth Opportunities Fund (a) | | 77,469 | 1,306,902 |
| Fidelity Advisor Series Small Cap Fund (a) | | 55,688 | 849,799 |
| Fidelity Series All-Sector Equity Fund (a) | | 68,460 | 803,031 |
| Fidelity Series Commodity Strategy Fund (a) | | 910,013 | 4,459,065 |
| Fidelity Series Large Cap Stock Fund (a) | | 158,947 | 2,932,570 |
| Fidelity Series Large Cap Value Index Fund (a) | | 21,544 | 316,487 |
| Fidelity Series Opportunistic Insights Fund (a) | | 85,678 | 1,741,831 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 59,185 | 1,048,760 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 130,140 | 1,857,092 |
| Fidelity Series Value Discovery Fund (a) | | 119,420 | 1,901,163 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $13,392,129) | | | 19,095,660 |
|
| International Equity Funds - 14.1% | | | |
| Fidelity Series Canada Fund (a) | | 79,696 | 1,017,716 |
| Fidelity Series Emerging Markets Fund (a) | | 104,128 | 1,217,255 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 436,746 | 11,206,901 |
| Fidelity Series International Growth Fund (a) | | 158,967 | 2,851,868 |
| Fidelity Series International Small Cap Fund (a) | | 43,610 | 903,607 |
| Fidelity Series International Value Fund (a) | | 262,552 | 2,848,685 |
| Fidelity Series Overseas Fund (a) | | 226,540 | 2,856,670 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $14,449,475) | | | 22,902,702 |
|
| Bond Funds - 52.9% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 95,205 | 864,462 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 28,112 | 281,687 |
| Fidelity Series Floating Rate High Income Fund (a) | | 18,988 | 174,502 |
| Fidelity Series High Income Fund (a) | | 109,481 | 1,026,935 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 1,699,354 | 18,251,059 |
| Fidelity Series International Credit Fund (a) | | 12,771 | 127,451 |
| Fidelity Series Investment Grade Bond Fund (a) | | 5,218,491 | 60,169,198 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 554,690 | 4,382,053 |
| Fidelity Series Real Estate Income Fund (a) | | 55,942 | 618,163 |
| TOTAL BOND FUNDS | | | |
| (Cost $81,770,397) | | | 85,895,510 |
|
| Short-Term Funds - 21.3% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 101,121 | 101,141 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 28,478,789 | 28,478,789 |
| Fidelity Series Short-Term Credit Fund (a) | | 588,970 | 5,989,828 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $34,443,548) | | | 34,569,758 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $144,135,547) | | | 162,543,630 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (80,738) |
| NET ASSETS - 100% | | | $162,462,892 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $471 |
| Total | $471 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Advisor Series Equity Growth Fund | $1,666,180 | $932,534 | $1,404,030 | $428,795 | $331,981 | $352,295 | $1,878,960 |
| Fidelity Advisor Series Growth Opportunities Fund | 923,185 | 886,797 | 1,100,791 | 350,239 | 198,211 | 399,500 | 1,306,902 |
| Fidelity Advisor Series Small Cap Fund | 678,094 | 321,588 | 654,311 | 29,609 | 80,452 | 423,976 | 849,799 |
| Fidelity Series All-Sector Equity Fund | 722,384 | 317,198 | 586,779 | 96,262 | 34,743 | 315,485 | 803,031 |
| Fidelity Series Canada Fund | 712,048 | 324,673 | 456,662 | 21,498 | 2,288 | 435,369 | 1,017,716 |
| Fidelity Series Commodity Strategy Fund | 4,987,475 | 1,038,507 | 2,781,799 | 18,809 | (519,191) | 1,734,073 | 4,459,065 |
| Fidelity Series Emerging Markets Debt Fund | 943,028 | 147,708 | 352,714 | 50,080 | (17,126) | 143,566 | 864,462 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 334,410 | 47,963 | 4,400 | 1,000 | (5,760) | 281,687 |
| Fidelity Series Emerging Markets Fund | 707,859 | 459,645 | 520,041 | 18,183 | 37,077 | 532,715 | 1,217,255 |
| Fidelity Series Emerging Markets Opportunities Fund | 6,640,525 | 4,526,883 | 5,191,778 | 350,011 | 854,166 | 4,377,105 | 11,206,901 |
| Fidelity Series Floating Rate High Income Fund | 233,060 | 33,097 | 124,751 | 10,516 | (8,712) | 41,808 | 174,502 |
| Fidelity Series Government Money Market Fund 0.08% | 28,109,999 | 11,047,794 | 10,679,004 | 49,176 | -- | -- | 28,478,789 |
| Fidelity Series High Income Fund | 1,015,645 | 176,142 | 306,905 | 60,858 | 8,590 | 133,463 | 1,026,935 |
| Fidelity Series Inflation-Protected Bond Index Fund | 16,675,121 | 3,998,480 | 3,524,214 | 239,063 | 17,545 | 1,084,127 | 18,251,059 |
| Fidelity Series International Credit Fund | 113,848 | 8,753 | -- | 8,753 | -- | 4,850 | 127,451 |
| Fidelity Series International Growth Fund | 3,899,704 | 749,640 | 2,622,001 | 433,899 | 905,054 | (80,529) | 2,851,868 |
| Fidelity Series International Small Cap Fund | 931,403 | 97,281 | 542,582 | 8,011 | 152,365 | 265,140 | 903,607 |
| Fidelity Series International Value Fund | 3,221,518 | 490,510 | 2,192,051 | 85,474 | 76,425 | 1,252,283 | 2,848,685 |
| Fidelity Series Investment Grade Bond Fund | 55,741,096 | 16,680,995 | 12,101,150 | 3,690,488 | (11,087) | (140,656) | 60,169,198 |
| Fidelity Series Large Cap Stock Fund | 2,430,531 | 1,264,951 | 1,996,838 | 196,053 | 192,484 | 1,041,442 | 2,932,570 |
| Fidelity Series Large Cap Value Index Fund | 258,890 | 102,075 | 182,147 | 7,103 | 28,766 | 108,903 | 316,487 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 3,817,340 | 2,773,554 | 1,097,536 | 422,676 | 47,261 | (1,158,566) | 4,382,053 |
| Fidelity Series Opportunistic Insights Fund | 1,586,370 | 725,758 | 1,161,473 | 279,885 | 295,106 | 296,070 | 1,741,831 |
| Fidelity Series Overseas Fund | 3,004,872 | 657,501 | 2,033,723 | 34,666 | 47,073 | 1,180,947 | 2,856,670 |
| Fidelity Series Real Estate Income Fund | 615,792 | 117,227 | 300,816 | 45,514 | 11,704 | 174,256 | 618,163 |
| Fidelity Series Short-Term Credit Fund | 6,376,386 | 581,754 | 1,159,128 | 151,237 | 18,821 | 171,995 | 5,989,828 |
| Fidelity Series Small Cap Opportunities Fund | 847,281 | 407,737 | 785,039 | 25,255 | 233,271 | 345,510 | 1,048,760 |
| Fidelity Series Stock Selector Large Cap Value Fund | 1,557,195 | 540,662 | 1,115,296 | 44,272 | 103,881 | 770,650 | 1,857,092 |
| Fidelity Series Value Discovery Fund | 1,540,712 | 558,121 | 1,100,450 | 44,134 | 164,513 | 738,267 | 1,901,163 |
| | $149,957,541 | $50,301,975 | $56,121,972 | $7,204,919 | $3,286,661 | $14,938,284 | $162,362,489 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments and Net Other Assets | $80,000 | $-- | $80,000 | $-- |
| Domestic Equity Funds | 19,095,660 | 19,095,660 | -- | -- |
| International Equity Funds | 22,902,702 | 22,902,702 | -- | -- |
| Bond Funds | 85,895,510 | 85,895,510 | -- | -- |
| Short-Term Funds | 34,569,758 | 34,569,758 | -- | -- |
| Total Investments in Securities: | $162,543,630 | $162,463,630 | $80,000 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2005 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $79,998) | $80,000 | |
| Fidelity Central Funds (cost $101,141) | 101,141 | |
| Other affiliated issuers (cost $143,954,408) | 162,362,489 | |
| Total Investment in Securities (cost $144,135,547) | | $162,543,630 |
| Cash | | 11,528 |
| Receivable for investments sold | | 951,598 |
| Receivable for fund shares sold | | 65,513 |
| Distributions receivable from Fidelity Central Funds | | 5 |
| Receivable for daily variation margin on futures contracts | | 2,151 |
| Total assets | | 163,574,425 |
| Liabilities | | |
| Payable for investments purchased | $950,771 | |
| Payable for fund shares redeemed | 71,976 | |
| Accrued management fee | 62,667 | |
| Distribution and service plan fees payable | 26,119 | |
| Total liabilities | | 1,111,533 |
| Net Assets | | $162,462,892 |
| Net Assets consist of: | | |
| Paid in capital | | $140,078,265 |
| Total accumulated earnings (loss) | | 22,384,627 |
| Net Assets | | $162,462,892 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($76,059,655 ÷ 6,346,217 shares)(a) | | $11.99 |
| Maximum offering price per share (100/94.25 of $11.99) | | $12.72 |
| Class M: | | |
| Net Asset Value and redemption price per share ($21,606,318 ÷ 1,805,618 shares)(a) | | $11.97 |
| Maximum offering price per share (100/96.50 of $11.97) | | $12.40 |
| Class C: | | |
| Net Asset Value and offering price per share ($1,360,325 ÷ 113,458 shares)(a) | | $11.99 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($54,931,668 ÷ 4,548,547 shares) | | $12.08 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($4,100,504 ÷ 341,344 shares) | | $12.01 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($4,404,422 ÷ 365,882 shares) | | $12.04 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $2,480,065 |
| Interest | | 284 |
| Income from Fidelity Central Funds | | 471 |
| Total income | | 2,480,820 |
| Expenses | | |
| Management fee | $749,932 | |
| Distribution and service plan fees | 323,792 | |
| Independent trustees' fees and expenses | 476 | |
| Total expenses before reductions | 1,074,200 | |
| Expense reductions | (239) | |
| Total expenses after reductions | | 1,073,961 |
| Net investment income (loss) | | 1,406,859 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (46) | |
| Other affiliated issuers | 3,286,661 | |
| Futures contracts | (61,405) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 4,724,854 | |
| Total net realized gain (loss) | | 7,950,064 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (138) | |
| Fidelity Central Funds | (7) | |
| Other affiliated issuers | 14,938,284 | |
| Total change in net unrealized appreciation (depreciation) | | 14,938,139 |
| Net gain (loss) | | 22,888,203 |
| Net increase (decrease) in net assets resulting from operations | | $24,295,062 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $1,406,859 | $2,749,654 |
| Net realized gain (loss) | 7,950,064 | 5,537,873 |
| Change in net unrealized appreciation (depreciation) | 14,938,139 | (7,583,822) |
| Net increase (decrease) in net assets resulting from operations | 24,295,062 | 703,705 |
| Distributions to shareholders | (8,287,216) | (7,692,057) |
| Share transactions - net increase (decrease) | (4,182,799) | (6,776,446) |
| Total increase (decrease) in net assets | 11,825,047 | (13,764,798) |
| Net Assets | | |
| Beginning of period | 150,637,845 | 164,402,643 |
| End of period | $162,462,892 | $150,637,845 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Advisor Freedom 2005 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.85 | $11.36 | $11.92 | $11.84 | $11.44 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .10 | .19 | .21 | .16 | .17 |
| Net realized and unrealized gain (loss) | 1.64 | (.16) | .14 | .53 | .67 |
| Total from investment operations | 1.74 | .03 | .35 | .69 | .84 |
| Distributions from net investment income | (.11) | (.20) | (.22) | (.17) | (.19)B |
| Distributions from net realized gain | (.49) | (.34) | (.68) | (.44) | (.25)B |
| Total distributions | (.60) | (.54) | (.91)C | (.61) | (.44) |
| Net asset value, end of period | $11.99 | $10.85 | $11.36 | $11.92 | $11.84 |
| Total ReturnD,E | 16.31% | .04% | 3.24% | 5.87% | 7.55% |
| Ratios to Average Net AssetsF,G | | | | | |
| Expenses before reductions | .72% | .72% | .73% | .66% | .25% |
| Expenses net of fee waivers, if any | .72% | .72% | .73% | .66% | .25% |
| Expenses net of all reductions | .71% | .72% | .73% | .66% | .25% |
| Net investment income (loss) | .81% | 1.62% | 1.80% | 1.34% | 1.46% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $76,060 | $74,103 | $86,981 | $101,642 | $118,902 |
| Portfolio turnover rateH | 31% | 28% | 28% | 20% | 32% |
A Calculated based on average shares outstanding during the period.
B The amounts shown reflect certain reclassifications related to book to tax differences that were made in the year shown.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2005 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.83 | $11.35 | $11.91 | $11.83 | $11.43 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .07 | .16 | .18 | .13 | .14 |
| Net realized and unrealized gain (loss) | 1.64 | (.17) | .14 | .53 | .67 |
| Total from investment operations | 1.71 | (.01) | .32 | .66 | .81 |
| Distributions from net investment income | (.08) | (.17) | (.19) | (.14) | (.16)B |
| Distributions from net realized gain | (.49) | (.34) | (.68) | (.44) | (.25)B |
| Total distributions | (.57) | (.51) | (.88)C | (.58) | (.41) |
| Net asset value, end of period | $11.97 | $10.83 | $11.35 | $11.91 | $11.83 |
| Total ReturnD,E | 16.06% | (.31)% | 2.98% | 5.64% | 7.29% |
| Ratios to Average Net AssetsF,G | | | | | |
| Expenses before reductions | .97% | .97% | .98% | .91% | .50% |
| Expenses net of fee waivers, if any | .97% | .97% | .98% | .91% | .50% |
| Expenses net of all reductions | .97% | .97% | .98% | .91% | .50% |
| Net investment income (loss) | .56% | 1.37% | 1.55% | 1.08% | 1.21% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $21,606 | $22,480 | $24,132 | $25,730 | $27,091 |
| Portfolio turnover rateH | 31% | 28% | 28% | 20% | 32% |
A Calculated based on average shares outstanding during the period.
B The amounts shown reflect certain reclassifications related to book to tax differences that were made in the year shown.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2005 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.85 | $11.35 | $11.91 | $11.81 | $11.41 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .01 | .10 | .12 | .07 | .08 |
| Net realized and unrealized gain (loss) | 1.64 | (.16) | .13 | .54 | .67 |
| Total from investment operations | 1.65 | (.06) | .25 | .61 | .75 |
| Distributions from net investment income | (.02) | (.10) | (.12) | (.07) | (.10)B |
| Distributions from net realized gain | (.49) | (.34) | (.68) | (.44) | (.25)B |
| Total distributions | (.51) | (.44) | (.81)C | (.51) | (.35) |
| Net asset value, end of period | $11.99 | $10.85 | $11.35 | $11.91 | $11.81 |
| Total ReturnD,E | 15.42% | (.70)% | 2.35% | 5.21% | 6.75% |
| Ratios to Average Net AssetsF,G | | | | | |
| Expenses before reductions | 1.47% | 1.47% | 1.48% | 1.41% | 1.00% |
| Expenses net of fee waivers, if any | 1.47% | 1.47% | 1.48% | 1.41% | 1.00% |
| Expenses net of all reductions | 1.47% | 1.47% | 1.48% | 1.41% | 1.00% |
| Net investment income (loss) | .06% | .87% | 1.05% | .58% | .71% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $1,360 | $1,642 | $2,302 | $5,867 | $5,623 |
| Portfolio turnover rateH | 31% | 28% | 28% | 20% | 32% |
A Calculated based on average shares outstanding during the period.
B The amounts shown reflect certain reclassifications related to book to tax differences that were made in the year shown.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the contingent deferred sales charge.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2005 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.93 | $11.45 | $12.00 | $11.92 | $11.51 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .13 | .22 | .24 | .19 | .20 |
| Net realized and unrealized gain (loss) | 1.66 | (.17) | .14 | .54 | .68 |
| Total from investment operations | 1.79 | .05 | .38 | .73 | .88 |
| Distributions from net investment income | (.15) | (.23) | (.25) | (.20) | (.22)B |
| Distributions from net realized gain | (.49) | (.34) | (.68) | (.44) | (.25)B |
| Total distributions | (.64) | (.57) | (.93) | (.65)C | (.47) |
| Net asset value, end of period | $12.08 | $10.93 | $11.45 | $12.00 | $11.92 |
| Total ReturnD | 16.62% | .21% | 3.53% | 6.13% | 7.87% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .47% | .47% | .48% | .41% | - %G |
| Expenses net of fee waivers, if any | .47% | .47% | .48% | .41% | -% |
| Expenses net of all reductions | .46% | .47% | .48% | .41% | -% |
| Net investment income (loss) | 1.06% | 1.87% | 2.05% | 1.58% | 1.71% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $54,932 | $46,911 | $49,013 | $59,386 | $58,940 |
| Portfolio turnover rateH | 31% | 28% | 28% | 20% | 32% |
A Calculated based on average shares outstanding during the period.
B The amounts shown reflect certain reclassifications related to book to tax differences that were made in the year shown.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount represents less than .005%.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2005 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $10.88 | $11.41 | $11.84 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .22 | .20 |
| Net realized and unrealized gain (loss) | 1.64 | (.16) | .01 |
| Total from investment operations | 1.77 | .06 | .21 |
| Distributions from net investment income | (.15) | (.25) | (.26) |
| Distributions from net realized gain | (.49) | (.34) | (.39) |
| Total distributions | (.64) | (.59) | (.64)C |
| Net asset value, end of period | $12.01 | $10.88 | $11.41 |
| Total ReturnD,E | 16.59% | .32% | 2.09% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .41%H | .42% | .43%I |
| Expenses net of fee waivers, if any | .41%H | .42% | .43%I |
| Expenses net of all reductions | .41%H | .42% | .43%I |
| Net investment income (loss) | 1.11% | 1.92% | 3.58%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $4,101 | $2,851 | $126 |
| Portfolio turnover rateJ | 31% | 28% | 28% |
A For the period October 2, 2018 (commencement of sale of shares) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2005 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $10.90 | $11.42 | $12.00 | $12.04 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .14 | .23 | .25 | .13 |
| Net realized and unrealized gain (loss) | 1.65 | (.16) | .13 | .33 |
| Total from investment operations | 1.79 | .07 | .38 | .46 |
| Distributions from net investment income | (.16) | (.25) | (.28) | (.19) |
| Distributions from net realized gain | (.49) | (.34) | (.68) | (.31) |
| Total distributions | (.65) | (.59) | (.96) | (.50) |
| Net asset value, end of period | $12.04 | $10.90 | $11.42 | $12.00 |
| Total ReturnC,D | 16.72% | .35% | 3.53% | 3.78% |
| Ratios to Average Net AssetsE,F | | | | |
| Expenses before reductions | .37% | .37% | .37% | .39%G,H |
| Expenses net of fee waivers, if any | .37% | .37% | .37% | .39%G,H |
| Expenses net of all reductions | .37% | .37% | .37% | .39%G,H |
| Net investment income (loss) | 1.16% | 1.97% | 2.16% | 1.30%G |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $4,404 | $2,652 | $1,849 | $1,408 |
| Portfolio turnover rateI | 31% | 28% | 28% | 20% |
A For the period June 6, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2010 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 33.6 |
| Fidelity Series Government Money Market Fund 0.08% | 14.1 |
| Fidelity Series Inflation-Protected Bond Index Fund | 9.7 |
| Fidelity Series Emerging Markets Opportunities Fund | 7.9 |
| Fidelity Series Short-Term Credit Fund | 2.9 |
| Fidelity Series Large Cap Stock Fund | 2.9 |
| Fidelity Series Commodity Strategy Fund | 2.8 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2.7 |
| Fidelity Series Overseas Fund | 2.5 |
| Fidelity Series International Growth Fund | 2.4 |
| | 81.5 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 17.2% |
| | International Equity Funds | 17.8% |
| | Bond Funds | 47.9% |
| | Short-Term Funds | 17.1% |
| | Short-Term Investments | 0.1% |
| | Net Other Assets (Liabilities)* | (0.1)% |
* Net Other Assets (Liabilities) are not included in the pie chart
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Advisor Freedom® 2010 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.1% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.08% to 0.08% 4/1/21 to 4/22/21 | | | |
| (Cost $169,996) | | 170,000 | 170,000 |
| | | Shares | Value |
|
| Domestic Equity Funds - 17.2% | | | |
| Fidelity Advisor Series Equity Growth Fund (a) | | 417,761 | $6,955,716 |
| Fidelity Advisor Series Growth Opportunities Fund (a) | | 286,785 | 4,838,055 |
| Fidelity Advisor Series Small Cap Fund (a) | | 206,160 | 3,145,999 |
| Fidelity Series All-Sector Equity Fund (a) | | 253,443 | 2,972,883 |
| Fidelity Series Commodity Strategy Fund (a) | | 2,099,343 | 10,286,783 |
| Fidelity Series Large Cap Stock Fund (a) | | 588,470 | 10,857,265 |
| Fidelity Series Large Cap Value Index Fund (a) | | 79,767 | 1,171,779 |
| Fidelity Series Opportunistic Insights Fund (a) | | 317,177 | 6,448,205 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 219,107 | 3,882,584 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 481,838 | 6,875,823 |
| Fidelity Series Value Discovery Fund (a) | | 442,136 | 7,038,805 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $44,215,519) | | | 64,473,897 |
|
| International Equity Funds - 17.8% | | | |
| Fidelity Series Canada Fund (a) | | 255,630 | 3,264,391 |
| Fidelity Series Emerging Markets Fund (a) | | 277,250 | 3,241,054 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 1,153,653 | 29,602,746 |
| Fidelity Series International Growth Fund (a) | | 509,901 | 9,147,621 |
| Fidelity Series International Small Cap Fund (a) | | 139,892 | 2,898,565 |
| Fidelity Series International Value Fund (a) | | 842,162 | 9,137,455 |
| Fidelity Series Overseas Fund (a) | | 726,643 | 9,162,964 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $42,757,051) | | | 66,454,796 |
|
| Bond Funds - 47.9% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 218,046 | 1,979,856 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 64,711 | 648,406 |
| Fidelity Series Floating Rate High Income Fund (a) | | 43,417 | 399,004 |
| Fidelity Series High Income Fund (a) | | 250,916 | 2,353,592 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 3,386,181 | 36,367,585 |
| Fidelity Series International Credit Fund (a) | | 30,691 | 306,295 |
| Fidelity Series Investment Grade Bond Fund (a) | | 10,910,170 | 125,794,262 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 1,283,022 | 10,135,877 |
| Fidelity Series Real Estate Income Fund (a) | | 128,941 | 1,424,794 |
| TOTAL BOND FUNDS | | | |
| (Cost $170,153,415) | | | 179,409,671 |
|
| Short-Term Funds - 17.1% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 300,975 | 301,035 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 52,805,064 | 52,805,064 |
| Fidelity Series Short-Term Credit Fund (a) | | 1,088,805 | 11,073,148 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $63,952,944) | | | 64,179,247 |
| TOTAL INVESTMENT IN SECURITIES - 100.1% | | | |
| (Cost $321,248,925) | | | 374,687,611 |
| NET OTHER ASSETS (LIABILITIES) - (0.1)% | | | (190,779) |
| NET ASSETS - 100% | | | $374,496,832 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $825 |
| Total | $825 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Advisor Series Equity Growth Fund | $6,264,325 | $2,661,908 | $4,442,447 | $1,608,813 | $1,156,762 | $1,315,168 | $6,955,716 |
| Fidelity Advisor Series Growth Opportunities Fund | 4,026,665 | 2,022,530 | 3,563,156 | 1,314,037 | 833,528 | 1,518,488 | 4,838,055 |
| Fidelity Advisor Series Small Cap Fund | 2,624,666 | 664,755 | 2,053,363 | 111,117 | 318,362 | 1,591,579 | 3,145,999 |
| Fidelity Series All-Sector Equity Fund | 2,711,534 | 710,257 | 1,741,807 | 359,703 | 113,089 | 1,179,810 | 2,972,883 |
| Fidelity Series Canada Fund | 2,402,013 | 835,232 | 1,383,043 | 70,346 | (3,251) | 1,413,440 | 3,264,391 |
| Fidelity Series Commodity Strategy Fund | 11,808,962 | 1,905,236 | 6,276,050 | 44,389 | (1,458,608) | 4,307,243 | 10,286,783 |
| Fidelity Series Emerging Markets Debt Fund | 2,241,239 | 205,959 | 761,572 | 115,950 | (35,432) | 329,662 | 1,979,856 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 758,429 | 101,021 | 10,259 | 2,647 | (11,649) | 648,406 |
| Fidelity Series Emerging Markets Fund | 2,012,232 | 1,022,939 | 1,339,103 | 49,322 | 115,077 | 1,429,909 | 3,241,054 |
| Fidelity Series Emerging Markets Opportunities Fund | 18,880,425 | 9,801,598 | 13,218,590 | 950,830 | 2,494,148 | 11,645,165 | 29,602,746 |
| Fidelity Series Floating Rate High Income Fund | 554,048 | 45,434 | 277,446 | 24,258 | (23,918) | 100,886 | 399,004 |
| Fidelity Series Government Money Market Fund 0.08% | 55,390,390 | 18,706,004 | 21,291,330 | 92,651 | -- | -- | 52,805,064 |
| Fidelity Series High Income Fund | 2,450,021 | 249,438 | 678,801 | 141,465 | (9,620) | 342,554 | 2,353,592 |
| Fidelity Series Inflation-Protected Bond Index Fund | 34,161,217 | 6,882,634 | 6,913,609 | 486,532 | 51,976 | 2,185,367 | 36,367,585 |
| Fidelity Series International Credit Fund | 273,603 | 21,036 | -- | 21,036 | -- | 11,656 | 306,295 |
| Fidelity Series International Growth Fund | 12,314,668 | 1,921,646 | 7,663,981 | 1,419,930 | 2,612,307 | (37,019) | 9,147,621 |
| Fidelity Series International Small Cap Fund | 2,856,785 | 151,305 | 1,427,898 | 26,210 | 457,360 | 861,013 | 2,898,565 |
| Fidelity Series International Value Fund | 10,235,775 | 1,108,470 | 6,464,269 | 280,680 | 178,371 | 4,079,108 | 9,137,455 |
| Fidelity Series Investment Grade Bond Fund | 120,300,564 | 31,886,950 | 26,164,716 | 7,769,131 | 71,573 | (300,109) | 125,794,262 |
| Fidelity Series Large Cap Stock Fund | 9,974,978 | 2,334,902 | 6,277,296 | 702,768 | 940,600 | 3,884,081 | 10,857,265 |
| Fidelity Series Large Cap Value Index Fund | 1,034,971 | 217,478 | 598,414 | 26,695 | 104,574 | 413,170 | 1,171,779 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 8,956,676 | 6,209,709 | 2,427,607 | 1,004,046 | 111,091 | (2,713,992) | 10,135,877 |
| Fidelity Series Opportunistic Insights Fund | 5,859,080 | 2,079,891 | 3,578,944 | 1,049,667 | 974,948 | 1,113,230 | 6,448,205 |
| Fidelity Series Overseas Fund | 9,748,961 | 1,346,141 | 5,841,245 | 113,439 | 98,765 | 3,810,342 | 9,162,964 |
| Fidelity Series Real Estate Income Fund | 1,483,346 | 173,166 | 665,673 | 105,788 | 19,960 | 413,995 | 1,424,794 |
| Fidelity Series Short-Term Credit Fund | 12,315,697 | 946,981 | 2,558,031 | 289,854 | 45,257 | 323,244 | 11,073,148 |
| Fidelity Series Small Cap Opportunities Fund | 3,303,061 | 837,671 | 2,458,949 | 92,982 | 673,550 | 1,527,251 | 3,882,584 |
| Fidelity Series Stock Selector Large Cap Value Fund | 6,161,235 | 1,099,355 | 3,707,224 | 166,406 | 388,026 | 2,934,431 | 6,875,823 |
| Fidelity Series Value Discovery Fund | 6,324,174 | 974,874 | 3,697,978 | 165,873 | 643,527 | 2,794,208 | 7,038,805 |
| | $356,671,311 | $97,781,928 | $137,573,563 | $18,614,177 | $10,874,669 | $46,462,231 | $374,216,576 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments and Net Other Assets | $170,000 | $-- | $170,000 | $-- |
| Domestic Equity Funds | 64,473,897 | 64,473,897 | -- | -- |
| International Equity Funds | 66,454,796 | 66,454,796 | -- | -- |
| Bond Funds | 179,409,671 | 179,409,671 | -- | -- |
| Short-Term Funds | 64,179,247 | 64,179,247 | -- | -- |
| Total Investments in Securities: | $374,687,611 | $374,517,611 | $170,000 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2010 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $169,996) | $170,000 | |
| Fidelity Central Funds (cost $301,035) | 301,035 | |
| Other affiliated issuers (cost $320,777,894) | 374,216,576 | |
| Total Investment in Securities (cost $321,248,925) | | $374,687,611 |
| Cash | | 31,300 |
| Receivable for investments sold | | 2,648,849 |
| Receivable for fund shares sold | | 220,877 |
| Distributions receivable from Fidelity Central Funds | | 15 |
| Receivable for daily variation margin on futures contracts | | 4,572 |
| Total assets | | 377,593,224 |
| Liabilities | | |
| Payable for investments purchased | $2,605,978 | |
| Payable for fund shares redeemed | 263,842 | |
| Accrued management fee | 157,559 | |
| Distribution and service plan fees payable | 69,013 | |
| Total liabilities | | 3,096,392 |
| Net Assets | | $374,496,832 |
| Net Assets consist of: | | |
| Paid in capital | | $308,048,571 |
| Total accumulated earnings (loss) | | 66,448,261 |
| Net Assets | | $374,496,832 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($164,212,180 ÷ 13,103,251 shares)(a) | | $12.53 |
| Maximum offering price per share (100/94.25 of $12.53) | | $13.29 |
| Class M: | | |
| Net Asset Value and redemption price per share ($69,653,810 ÷ 5,588,029 shares)(a) | | $12.46 |
| Maximum offering price per share (100/96.50 of $12.46) | | $12.91 |
| Class C: | | |
| Net Asset Value and offering price per share ($6,544,418 ÷ 527,087 shares)(a) | | $12.42 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($114,929,485 ÷ 9,134,317 shares) | | $12.58 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($6,513,522 ÷ 520,767 shares) | | $12.51 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($12,643,417 ÷ 1,008,010 shares) | | $12.54 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $5,961,887 |
| Interest | | 623 |
| Income from Fidelity Central Funds | | 825 |
| Total income | | 5,963,335 |
| Expenses | | |
| Management fee | $1,916,672 | |
| Distribution and service plan fees | 850,535 | |
| Independent trustees' fees and expenses | 1,119 | |
| Total expenses before reductions | 2,768,326 | |
| Expense reductions | (212) | |
| Total expenses after reductions | | 2,768,114 |
| Net investment income (loss) | | 3,195,221 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Fidelity Central Funds | (77) | |
| Other affiliated issuers | 10,874,669 | |
| Futures contracts | (204,719) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 12,652,290 | |
| Total net realized gain (loss) | | 23,322,163 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (281) | |
| Fidelity Central Funds | (24) | |
| Other affiliated issuers | 46,462,231 | |
| Total change in net unrealized appreciation (depreciation) | | 46,461,926 |
| Net gain (loss) | | 69,784,089 |
| Net increase (decrease) in net assets resulting from operations | | $72,979,310 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $3,195,221 | $6,470,502 |
| Net realized gain (loss) | 23,322,163 | 17,783,346 |
| Change in net unrealized appreciation (depreciation) | 46,461,926 | (27,373,649) |
| Net increase (decrease) in net assets resulting from operations | 72,979,310 | (3,119,801) |
| Distributions to shareholders | (22,669,069) | (23,327,353) |
| Share transactions - net increase (decrease) | (33,837,760) | (35,324,647) |
| Total increase (decrease) in net assets | 16,472,481 | (61,771,801) |
| Net Assets | | |
| Beginning of period | 358,024,351 | 419,796,152 |
| End of period | $374,496,832 | $358,024,351 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Advisor Freedom 2010 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.97 | $11.78 | $12.42 | $12.34 | $11.87 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .10 | .19 | .21 | .16 | .18 |
| Net realized and unrealized gain (loss) | 2.18 | (.31) | .15 | .72 | .84 |
| Total from investment operations | 2.28 | (.12) | .36 | .88 | 1.02 |
| Distributions from net investment income | (.11) | (.20) | (.21) | (.17) | (.19) |
| Distributions from net realized gain | (.61) | (.49) | (.79) | (.62) | (.36) |
| Total distributions | (.72) | (.69) | (1.00) | (.80)B | (.55) |
| Net asset value, end of period | $12.53 | $10.97 | $11.78 | $12.42 | $12.34 |
| Total ReturnC,D | 21.28% | (1.39)% | 3.28% | 7.18% | 8.87% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .76% | .77% | .77%G | .69% | .25% |
| Expenses net of fee waivers, if any | .76% | .77% | .77%G | .69% | .25% |
| Expenses net of all reductions | .76% | .77% | .77%G | .69% | .25% |
| Net investment income (loss) | .81% | 1.56% | 1.75% | 1.29% | 1.45% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $164,212 | $162,920 | $198,633 | $230,553 | $263,496 |
| Portfolio turnover rateH | 26% | 23% | 24% | 20% | 26% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2010 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.92 | $11.73 | $12.37 | $12.30 | $11.83 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .07 | .15 | .18 | .13 | .14 |
| Net realized and unrealized gain (loss) | 2.16 | (.30) | .15 | .71 | .85 |
| Total from investment operations | 2.23 | (.15) | .33 | .84 | .99 |
| Distributions from net investment income | (.09) | (.17) | (.18) | (.15) | (.16) |
| Distributions from net realized gain | (.61) | (.49) | (.79) | (.62) | (.36) |
| Total distributions | (.69)B | (.66) | (.97) | (.77) | (.52) |
| Net asset value, end of period | $12.46 | $10.92 | $11.73 | $12.37 | $12.30 |
| Total ReturnC,D | 20.90% | (1.63)% | 3.06% | 6.89% | 8.63% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | 1.01% | 1.02% | 1.02%G | .94% | .50% |
| Expenses net of fee waivers, if any | 1.01% | 1.02% | 1.02%G | .94% | .50% |
| Expenses net of all reductions | 1.01% | 1.02% | 1.02%G | .94% | .50% |
| Net investment income (loss) | .56% | 1.31% | 1.50% | 1.03% | 1.20% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $69,654 | $64,750 | $71,679 | $77,068 | $83,881 |
| Portfolio turnover rateH | 26% | 23% | 24% | 20% | 26% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2010 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.87 | $11.66 | $12.29 | $12.22 | $11.76 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .01 | .10 | .12 | .07 | .08 |
| Net realized and unrealized gain (loss) | 2.16 | (.30) | .14 | .70 | .84 |
| Total from investment operations | 2.17 | (.20) | .26 | .77 | .92 |
| Distributions from net investment income | (.02) | (.10) | (.11) | (.08) | (.10) |
| Distributions from net realized gain | (.60) | (.49) | (.78) | (.62) | (.36) |
| Total distributions | (.62) | (.59) | (.89) | (.70) | (.46) |
| Net asset value, end of period | $12.42 | $10.87 | $11.66 | $12.29 | $12.22 |
| Total ReturnB,C | 20.36% | (2.02)% | 2.45% | 6.37% | 8.07% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | 1.51% | 1.51%F | 1.52%F | 1.44% | 1.00% |
| Expenses net of fee waivers, if any | 1.51% | 1.51%F | 1.52%F | 1.44% | 1.00% |
| Expenses net of all reductions | 1.51% | 1.51%F | 1.52%F | 1.44% | 1.00% |
| Net investment income (loss) | .06% | .81% | 1.00% | .54% | .70% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $6,544 | $8,343 | $10,765 | $26,227 | $29,290 |
| Portfolio turnover rateG | 26% | 23% | 24% | 20% | 26% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Total returns do not include the effect of the contingent deferred sales charge.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2010 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.02 | $11.82 | $12.47 | $12.40 | $11.92 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .13 | .22 | .24 | .19 | .21 |
| Net realized and unrealized gain (loss) | 2.19 | (.30) | .14 | .72 | .85 |
| Total from investment operations | 2.32 | (.08) | .38 | .91 | 1.06 |
| Distributions from net investment income | (.15) | (.23) | (.25) | (.21) | (.22) |
| Distributions from net realized gain | (.61) | (.49) | (.79) | (.62) | (.36) |
| Total distributions | (.76) | (.72) | (1.03)B | (.84)B | (.58) |
| Net asset value, end of period | $12.58 | $11.02 | $11.82 | $12.47 | $12.40 |
| Total ReturnC | 21.50% | (1.04)% | 3.50% | 7.39% | 9.22% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .51% | .52% | .52%F | .45% | - %G |
| Expenses net of fee waivers, if any | .51% | .52% | .52%F | .45% | -% |
| Expenses net of all reductions | .51% | .52% | .52%F | .45% | -% |
| Net investment income (loss) | 1.06% | 1.81% | 2.00% | 1.53% | 1.70% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $114,929 | $107,764 | $131,896 | $137,019 | $131,216 |
| Portfolio turnover rateH | 26% | 23% | 24% | 20% | 26% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
G Amount represents less than .005%.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2010 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $10.95 | $11.78 | $12.30 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .14 | .22 | .27 |
| Net realized and unrealized gain (loss) | 2.18 | (.30) | (.11) |
| Total from investment operations | 2.32 | (.08) | .16 |
| Distributions from net investment income | (.15) | (.26) | (.26) |
| Distributions from net realized gain | (.61) | (.49) | (.42) |
| Total distributions | (.76) | (.75) | (.68) |
| Net asset value, end of period | $12.51 | $10.95 | $11.78 |
| Total ReturnC,D | 21.71% | (1.05)% | 1.65% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .45% | .46%G | .47%G,H |
| Expenses net of fee waivers, if any | .45% | .46%G | .47%G,H |
| Expenses net of all reductions | .45% | .46%G | .47%G,H |
| Net investment income (loss) | 1.12% | 1.87% | 4.58%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $6,514 | $5,895 | $257 |
| Portfolio turnover rateI | 26% | 23% | 24% |
A For the period October 2, 2018 (commencement of sale of shares) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2010 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $10.99 | $11.81 | $12.47 | $12.50 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .14 | .23 | .25 | .05 |
| Net realized and unrealized gain (loss) | 2.19 | (.31) | .15 | .53 |
| Total from investment operations | 2.33 | (.08) | .40 | .58 |
| Distributions from net investment income | (.17) | (.26) | (.27) | (.20) |
| Distributions from net realized gain | (.61) | (.49) | (.79) | (.42) |
| Total distributions | (.78) | (.74)C | (1.06) | (.61)C |
| Net asset value, end of period | $12.54 | $10.99 | $11.81 | $12.47 |
| Total ReturnD,E | 21.67% | (1.01)% | 3.66% | 4.62% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .38% | .39% | .39% | .41%H,I |
| Expenses net of fee waivers, if any | .38% | .39% | .39% | .41%H,I |
| Expenses net of all reductions | .38% | .39% | .39% | .41%H,I |
| Net investment income (loss) | 1.18% | 1.94% | 2.13% | .45%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $12,643 | $8,352 | $6,566 | $4,744 |
| Portfolio turnover rateJ | 26% | 23% | 24% | 20% |
A For the period June 6, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2015 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 29.9 |
| Fidelity Series Government Money Market Fund 0.08% | 10.7 |
| Fidelity Series Emerging Markets Opportunities Fund | 8.9 |
| Fidelity Series Inflation-Protected Bond Index Fund | 8.4 |
| Fidelity Series Large Cap Stock Fund | 4.0 |
| Fidelity Series Overseas Fund | 3.2 |
| Fidelity Series International Growth Fund | 3.1 |
| Fidelity Series International Value Fund | 3.1 |
| Fidelity Series Commodity Strategy Fund | 2.7 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2.7 |
| | 76.7 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 22.7% |
| | International Equity Funds | 21.4% |
| | Bond Funds | 42.9% |
| | Short-Term Funds | 13.0% |
| | Short-Term Investments | 0.1% |
| | Net Other Assets (Liabilities)* | (0.1)% |
* Net Other Assets (Liabilities) are not included in the pie chart
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Advisor Freedom® 2015 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.1% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.08% to 0.08% 4/1/21 to 4/22/21 | | | |
| (Cost $379,993) | | 380,000 | 379,999 |
| | | Shares | Value |
|
| Domestic Equity Funds - 22.7% | | | |
| Fidelity Advisor Series Equity Growth Fund (a) | | 1,302,444 | $21,685,695 |
| Fidelity Advisor Series Growth Opportunities Fund (a) | | 894,053 | 15,082,676 |
| Fidelity Advisor Series Small Cap Fund (a) | | 642,787 | 9,808,927 |
| Fidelity Series All-Sector Equity Fund (a) | | 790,218 | 9,269,255 |
| Fidelity Series Commodity Strategy Fund (a) | | 4,740,315 | 23,227,544 |
| Fidelity Series Large Cap Stock Fund (a) | | 1,834,856 | 33,853,090 |
| Fidelity Series Large Cap Value Index Fund (a) | | 248,718 | 3,653,671 |
| Fidelity Series Opportunistic Insights Fund (a) | | 988,874 | 20,103,810 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 683,157 | 12,105,545 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 1,502,365 | 21,438,754 |
| Fidelity Series Value Discovery Fund (a) | | 1,378,575 | 21,946,920 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $128,804,039) | | | 192,175,887 |
|
| International Equity Funds - 21.4% | | | |
| Fidelity Series Canada Fund (a) | | 740,271 | 9,453,254 |
| Fidelity Series Emerging Markets Fund (a) | | 706,321 | 8,256,890 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 2,940,345 | 75,449,249 |
| Fidelity Series International Growth Fund (a) | | 1,476,624 | 26,490,631 |
| Fidelity Series International Small Cap Fund (a) | | 405,135 | 8,394,404 |
| Fidelity Series International Value Fund (a) | | 2,438,821 | 26,461,208 |
| Fidelity Series Overseas Fund (a) | | 2,104,283 | 26,535,003 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $114,882,203) | | | 181,040,639 |
|
| Bond Funds - 42.9% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 489,598 | 4,445,548 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 145,919 | 1,462,105 |
| Fidelity Series Floating Rate High Income Fund (a) | | 97,484 | 895,877 |
| Fidelity Series High Income Fund (a) | | 563,859 | 5,289,001 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 6,639,327 | 71,306,373 |
| Fidelity Series International Credit Fund (a) | | 73,050 | 729,035 |
| Fidelity Series Investment Grade Bond Fund (a) | | 21,901,829 | 252,528,086 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 2,891,686 | 22,844,322 |
| Fidelity Series Real Estate Income Fund (a) | | 291,140 | 3,217,095 |
| TOTAL BOND FUNDS | | | |
| (Cost $344,152,113) | | | 362,717,442 |
|
| Short-Term Funds - 13.0% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 763,805 | 763,958 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 90,200,663 | 90,200,663 |
| Fidelity Series Short-Term Credit Fund (a) | | 1,855,500 | 18,870,432 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $109,468,106) | | | 109,835,053 |
| TOTAL INVESTMENT IN SECURITIES - 100.1% | | | |
| (Cost $697,686,454) | | | 846,149,020 |
| NET OTHER ASSETS (LIABILITIES) - (0.1)% | | | (537,181) |
| NET ASSETS - 100% | | | $845,611,839 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $1,485 |
| Total | $1,485 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Advisor Series Equity Growth Fund | $18,613,188 | $7,187,066 | $11,319,287 | $4,857,960 | $3,151,322 | $4,053,406 | $21,685,695 |
| Fidelity Advisor Series Growth Opportunities Fund | 11,961,675 | 5,639,515 | 9,455,816 | 3,966,999 | 2,322,279 | 4,615,023 | 15,082,676 |
| Fidelity Advisor Series Small Cap Fund | 7,746,259 | 1,687,236 | 5,383,818 | 335,586 | 876,454 | 4,882,796 | 9,808,927 |
| Fidelity Series All-Sector Equity Fund | 8,082,906 | 1,818,523 | 4,463,774 | 1,101,011 | 296,223 | 3,535,377 | 9,269,255 |
| Fidelity Series Canada Fund | 7,054,379 | 1,915,758 | 3,460,785 | 197,677 | (63,587) | 4,007,489 | 9,453,254 |
| Fidelity Series Commodity Strategy Fund | 25,490,366 | 3,898,081 | 12,400,314 | 96,894 | (3,076,355) | 9,315,766 | 23,227,544 |
| Fidelity Series Emerging Markets Debt Fund | 4,845,097 | 387,852 | 1,416,139 | 251,388 | (66,478) | 695,216 | 4,445,548 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 1,664,431 | 184,076 | 22,804 | 3,741 | (21,991) | 1,462,105 |
| Fidelity Series Emerging Markets Fund | 5,076,354 | 2,235,515 | 2,935,417 | 122,148 | 242,743 | 3,637,695 | 8,256,890 |
| Fidelity Series Emerging Markets Opportunities Fund | 48,639,256 | 21,689,267 | 29,833,816 | 2,355,798 | 5,259,884 | 29,694,658 | 75,449,249 |
| Fidelity Series Floating Rate High Income Fund | 1,152,720 | 81,797 | 497,512 | 50,536 | (44,066) | 202,938 | 895,877 |
| Fidelity Series Government Money Market Fund 0.08% | 95,067,836 | 35,354,208 | 40,221,381 | 155,093 | -- | -- | 90,200,663 |
| Fidelity Series High Income Fund | 5,365,266 | 471,403 | 1,270,971 | 309,005 | (29,664) | 752,967 | 5,289,001 |
| Fidelity Series Inflation-Protected Bond Index Fund | 64,845,221 | 16,345,613 | 14,105,074 | 931,365 | 110,395 | 4,110,218 | 71,306,373 |
| Fidelity Series International Credit Fund | 651,223 | 50,069 | -- | 50,070 | -- | 27,743 | 729,035 |
| Fidelity Series International Growth Fund | 32,877,456 | 4,989,449 | 18,357,928 | 3,990,328 | 6,665,082 | 316,572 | 26,490,631 |
| Fidelity Series International Small Cap Fund | 7,756,858 | 308,925 | 3,322,780 | 73,627 | 1,084,428 | 2,566,973 | 8,394,404 |
| Fidelity Series International Value Fund | 27,998,648 | 2,737,067 | 16,175,981 | 788,928 | 636,672 | 11,264,802 | 26,461,208 |
| Fidelity Series Investment Grade Bond Fund | 230,747,222 | 76,483,602 | 53,849,894 | 15,133,370 | (81,645) | (771,199) | 252,528,086 |
| Fidelity Series Large Cap Stock Fund | 29,644,912 | 5,630,307 | 16,130,934 | 2,063,595 | 2,633,290 | 12,075,515 | 33,853,090 |
| Fidelity Series Large Cap Value Index Fund | 3,068,567 | 612,742 | 1,583,999 | 80,587 | 276,119 | 1,280,242 | 3,653,671 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 19,818,002 | 14,462,987 | 5,671,987 | 2,203,271 | 335,961 | (6,100,641) | 22,844,322 |
| Fidelity Series Opportunistic Insights Fund | 17,410,024 | 5,506,860 | 8,912,074 | 3,174,254 | 2,647,724 | 3,451,276 | 20,103,810 |
| Fidelity Series Overseas Fund | 27,048,067 | 2,599,385 | 13,938,866 | 318,763 | 108,355 | 10,718,062 | 26,535,003 |
| Fidelity Series Real Estate Income Fund | 3,245,495 | 329,299 | 1,307,155 | 228,570 | 34,259 | 915,197 | 3,217,095 |
| Fidelity Series Short-Term Credit Fund | 20,155,281 | 1,346,267 | 3,228,600 | 474,676 | 56,242 | 541,242 | 18,870,432 |
| Fidelity Series Small Cap Opportunities Fund | 9,794,269 | 2,075,009 | 6,426,022 | 276,457 | 2,131,318 | 4,530,971 | 12,105,545 |
| Fidelity Series Stock Selector Large Cap Value Fund | 18,271,386 | 3,026,708 | 9,952,428 | 502,433 | 1,154,479 | 8,938,609 | 21,438,754 |
| Fidelity Series Value Discovery Fund | 18,974,502 | 2,421,496 | 9,899,295 | 500,793 | 1,792,997 | 8,657,220 | 21,946,920 |
| | $771,402,435 | $222,956,437 | $305,706,123 | $44,613,986 | $28,458,172 | $127,894,142 | $845,005,063 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments and Net Other Assets | $379,999 | $-- | $379,999 | $-- |
| Domestic Equity Funds | 192,175,887 | 192,175,887 | -- | -- |
| International Equity Funds | 181,040,639 | 181,040,639 | -- | -- |
| Bond Funds | 362,717,442 | 362,717,442 | -- | -- |
| Short-Term Funds | 109,835,053 | 109,835,053 | -- | -- |
| Total Investments in Securities: | $846,149,020 | $845,769,021 | $379,999 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2015 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $379,993) | $379,999 | |
| Fidelity Central Funds (cost $763,955) | 763,958 | |
| Other affiliated issuers (cost $696,542,506) | 845,005,063 | |
| Total Investment in Securities (cost $697,686,454) | | $846,149,020 |
| Receivable for investments sold | | 7,212,222 |
| Receivable for fund shares sold | | 280,517 |
| Distributions receivable from Fidelity Central Funds | | 37 |
| Receivable for daily variation margin on futures contracts | | 10,360 |
| Total assets | | 853,652,156 |
| Liabilities | | |
| Payable for investments purchased | $6,551,107 | |
| Payable for fund shares redeemed | 949,146 | |
| Accrued management fee | 385,902 | |
| Distribution and service plan fees payable | 154,162 | |
| Total liabilities | | 8,040,317 |
| Net Assets | | $845,611,839 |
| Net Assets consist of: | | |
| Paid in capital | | $663,365,297 |
| Total accumulated earnings (loss) | | 182,246,542 |
| Net Assets | | $845,611,839 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($385,408,993 ÷ 30,620,700 shares)(a) | | $12.59 |
| Maximum offering price per share (100/94.25 of $12.59) | | $13.36 |
| Class M: | | |
| Net Asset Value and redemption price per share ($134,240,251 ÷ 10,698,764 shares)(a) | | $12.55 |
| Maximum offering price per share (100/96.50 of $12.55) | | $13.01 |
| Class C: | | |
| Net Asset Value and offering price per share ($20,653,989 ÷ 1,657,043 shares)(a) | | $12.46 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($256,243,405 ÷ 20,164,801 shares) | | $12.71 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($20,850,206 ÷ 1,652,762 shares) | | $12.62 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($28,214,995 ÷ 2,228,291 shares) | | $12.66 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $13,348,015 |
| Interest | | 1,406 |
| Income from Fidelity Central Funds | | 1,485 |
| Total income | | $13,350,906 |
| Expenses | | |
| Management fee | $4,567,407 | |
| Distribution and service plan fees | 1,853,359 | |
| Independent trustees' fees and expenses | 2,455 | |
| Total expenses before reductions | 6,423,221 | |
| Expense reductions | (186) | |
| Total expenses after reductions | | 6,423,035 |
| Net investment income (loss) | | 6,927,871 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | 33 | |
| Fidelity Central Funds | (148) | |
| Other affiliated issuers | 28,458,172 | |
| Futures contracts | (344,033) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 31,265,971 | |
| Total net realized gain (loss) | | 59,379,995 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (653) | |
| Fidelity Central Funds | (56) | |
| Other affiliated issuers | 127,894,142 | |
| Total change in net unrealized appreciation (depreciation) | | 127,893,433 |
| Net gain (loss) | | 187,273,428 |
| Net increase (decrease) in net assets resulting from operations | | $194,201,299 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $6,927,871 | $14,279,200 |
| Net realized gain (loss) | 59,379,995 | 52,137,476 |
| Change in net unrealized appreciation (depreciation) | 127,893,433 | (82,226,893) |
| Net increase (decrease) in net assets resulting from operations | 194,201,299 | (15,810,217) |
| Distributions to shareholders | (60,060,127) | (63,470,497) |
| Share transactions - net increase (decrease) | (62,469,417) | (129,306,462) |
| Total increase (decrease) in net assets | 71,671,755 | (208,587,176) |
| Net Assets | | |
| Beginning of period | 773,940,084 | 982,527,260 |
| End of period | $845,611,839 | $773,940,084 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Advisor Freedom 2015 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.71 | $11.79 | $12.59 | $12.43 | $11.81 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .09 | .18 | .21 | .16 | .18 |
| Net realized and unrealized gain (loss) | 2.66 | (.44) | .14 | .87 | .99 |
| Total from investment operations | 2.75 | (.26) | .35 | 1.03 | 1.17 |
| Distributions from net investment income | (.11) | (.19) | (.21) | (.18) | (.19) |
| Distributions from net realized gain | (.76) | (.62) | (.94) | (.70) | (.36) |
| Total distributions | (.87) | (.82)B | (1.15) | (.87)B | (.55) |
| Net asset value, end of period | $12.59 | $10.71 | $11.79 | $12.59 | $12.43 |
| Total ReturnC,D | 26.45% | (2.77)% | 3.26% | 8.42% | 10.23% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .80% | .81% | .82% | .72% | .25% |
| Expenses net of fee waivers, if any | .80% | .81% | .82% | .72% | .25% |
| Expenses net of all reductions | .80% | .81% | .82% | .72% | .25% |
| Net investment income (loss) | .79% | 1.50% | 1.71% | 1.22% | 1.46% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $385,409 | $360,371 | $476,763 | $551,179 | $653,982 |
| Portfolio turnover rateG | 27% | 22% | 21% | 19% | 22% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2015 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.68 | $11.76 | $12.56 | $12.41 | $11.79 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .06 | .15 | .17 | .12 | .15 |
| Net realized and unrealized gain (loss) | 2.65 | (.44) | .15 | .87 | .99 |
| Total from investment operations | 2.71 | (.29) | .32 | .99 | 1.14 |
| Distributions from net investment income | (.08) | (.16) | (.18) | (.15) | (.16) |
| Distributions from net realized gain | (.76) | (.62) | (.94) | (.70) | (.36) |
| Total distributions | (.84) | (.79)B | (1.12) | (.84)B | (.52) |
| Net asset value, end of period | $12.55 | $10.68 | $11.76 | $12.56 | $12.41 |
| Total ReturnC,D | 26.13% | (3.00)% | 3.01% | 8.10% | 9.98% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | 1.05% | 1.06% | 1.07% | .98% | .50% |
| Expenses net of fee waivers, if any | 1.05% | 1.06% | 1.07% | .98% | .50% |
| Expenses net of all reductions | 1.05% | 1.06% | 1.07% | .98% | .50% |
| Net investment income (loss) | .54% | 1.25% | 1.45% | .96% | 1.21% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $134,240 | $123,857 | $152,212 | $167,835 | $178,795 |
| Portfolio turnover rateG | 27% | 22% | 21% | 19% | 22% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2015 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.62 | $11.69 | $12.47 | $12.32 | $11.72 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | –B | .09 | .11 | .06 | .08 |
| Net realized and unrealized gain (loss) | 2.62 | (.44) | .16 | .86 | .98 |
| Total from investment operations | 2.62 | (.35) | .27 | .92 | 1.06 |
| Distributions from net investment income | (.03) | (.09) | (.13) | (.08) | (.10) |
| Distributions from net realized gain | (.74) | (.62) | (.93) | (.70) | (.36) |
| Total distributions | (.78)C | (.72)C | (1.05)C | (.77)C | (.46) |
| Net asset value, end of period | $12.46 | $10.62 | $11.69 | $12.47 | $12.32 |
| Total ReturnD,E | 25.36% | (3.48)% | 2.60% | 7.57% | 9.33% |
| Ratios to Average Net AssetsF,G | | | | | |
| Expenses before reductions | 1.55% | 1.56% | 1.57% | 1.48% | 1.00% |
| Expenses net of fee waivers, if any | 1.55% | 1.56% | 1.57% | 1.48% | 1.00% |
| Expenses net of all reductions | 1.55% | 1.55% | 1.57% | 1.48% | 1.00% |
| Net investment income (loss) | .04% | .76% | .96% | .47% | .71% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $20,654 | $20,129 | $31,274 | $54,730 | $61,332 |
| Portfolio turnover rateH | 27% | 22% | 21% | 19% | 22% |
A Calculated based on average shares outstanding during the period.
B Amount represents less than $.005 per share.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the contingent deferred sales charge.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2015 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.81 | $11.89 | $12.69 | $12.53 | $11.90 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .13 | .21 | .24 | .19 | .21 |
| Net realized and unrealized gain (loss) | 2.67 | (.44) | .14 | .88 | 1.00 |
| Total from investment operations | 2.80 | (.23) | .38 | 1.07 | 1.21 |
| Distributions from net investment income | (.14) | (.22) | (.24) | (.21) | (.22) |
| Distributions from net realized gain | (.76) | (.62) | (.94) | (.70) | (.36) |
| Total distributions | (.90) | (.85)B | (1.18) | (.91) | (.58) |
| Net asset value, end of period | $12.71 | $10.81 | $11.89 | $12.69 | $12.53 |
| Total ReturnC | 26.71% | (2.50)% | 3.55% | 8.66% | 10.53% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .55% | .56% | .57% | .48% | - %F |
| Expenses net of fee waivers, if any | .55% | .56% | .57% | .48% | -% |
| Expenses net of all reductions | .55% | .56% | .57% | .48% | -% |
| Net investment income (loss) | 1.04% | 1.75% | 1.95% | 1.46% | 1.71% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $256,243 | $238,048 | $304,221 | $324,189 | $317,539 |
| Portfolio turnover rateG | 27% | 22% | 21% | 19% | 22% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount represents less than .005%.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2015 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $10.74 | $11.85 | $12.50 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .22 | .27 |
| Net realized and unrealized gain (loss) | 2.66 | (.45) | (.17) |
| Total from investment operations | 2.79 | (.23) | .10 |
| Distributions from net investment income | (.15) | (.26) | (.27) |
| Distributions from net realized gain | (.76) | (.62) | (.48) |
| Total distributions | (.91) | (.88) | (.75) |
| Net asset value, end of period | $12.62 | $10.74 | $11.85 |
| Total ReturnC,D | 26.82% | (2.48)% | 1.29% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .48% | .49% | .51%G,H |
| Expenses net of fee waivers, if any | .48% | .49% | .51%G,H |
| Expenses net of all reductions | .48% | .49% | .51%G,H |
| Net investment income (loss) | 1.11% | 1.82% | 4.73%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $20,850 | $16,135 | $1,522 |
| Portfolio turnover rateI | 27% | 22% | 21% |
A For the period October 2, 2018 (commencement of sale of shares) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2015 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $10.78 | $11.87 | $12.67 | $12.66 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .14 | .23 | .25 | .18 |
| Net realized and unrealized gain (loss) | 2.66 | (.45) | .16 | .51 |
| Total from investment operations | 2.80 | (.22) | .41 | .69 |
| Distributions from net investment income | (.17) | (.25) | (.27) | (.21) |
| Distributions from net realized gain | (.76) | (.62) | (.94) | (.47) |
| Total distributions | (.92)C | (.87) | (1.21) | (.68) |
| Net asset value, end of period | $12.66 | $10.78 | $11.87 | $12.67 |
| Total ReturnD,E | 26.84% | (2.40)% | 3.81% | 5.42% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .40% | .41% | .41% | .43%H,I |
| Expenses net of fee waivers, if any | .40% | .41% | .41% | .43%H,I |
| Expenses net of all reductions | .40% | .41% | .41% | .43%H,I |
| Net investment income (loss) | 1.19% | 1.90% | 2.11% | 1.75%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $28,215 | $15,400 | $16,536 | $12,903 |
| Portfolio turnover rateJ | 27% | 22% | 21% | 19% |
A For the period June 6, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2020 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 26.1 |
| Fidelity Series Emerging Markets Opportunities Fund | 9.9 |
| Fidelity Series Government Money Market Fund 0.08% | 7.4 |
| Fidelity Series Inflation-Protected Bond Index Fund | 7.2 |
| Fidelity Series Large Cap Stock Fund | 5.1 |
| Fidelity Series Overseas Fund | 3.8 |
| Fidelity Series International Growth Fund | 3.8 |
| Fidelity Series International Value Fund | 3.8 |
| Fidelity Series Value Discovery Fund | 3.3 |
| Fidelity Advisor Series Equity Growth Fund | 3.3 |
| | 73.7 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 28.1% |
| | International Equity Funds | 25.0% |
| | Bond Funds | 37.9% |
| | Short-Term Funds | 9.0% |
| | Short-Term Investments | 0.1% |
| | Net Other Assets (Liabilities)* | (0.1)% |
* Net Other Assets (Liabilities) are not included in the pie chart
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Advisor Freedom® 2020 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.1% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.08% to 0.08% 4/1/21 to 4/22/21 | | | |
| (Cost $1,069,980) | | 1,070,000 | 1,069,998 |
| | | Shares | Value |
|
| Domestic Equity Funds - 28.1% | | | |
| Fidelity Advisor Series Equity Growth Fund (a) | | 4,147,748 | $69,060,001 |
| Fidelity Advisor Series Growth Opportunities Fund (a) | | 2,846,926 | 48,027,636 |
| Fidelity Advisor Series Small Cap Fund (a) | | 2,047,169 | 31,239,796 |
| Fidelity Series All-Sector Equity Fund (a) | | 2,516,749 | 29,521,471 |
| Fidelity Series Commodity Strategy Fund (a) | | 11,900,110 | 58,310,541 |
| Fidelity Series Large Cap Stock Fund (a) | | 5,844,027 | 107,822,301 |
| Fidelity Series Large Cap Value Index Fund (a) | | 792,166 | 11,636,912 |
| Fidelity Series Opportunistic Insights Fund (a) | | 3,149,227 | 64,023,791 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 2,175,741 | 38,554,130 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 4,785,152 | 68,284,126 |
| Fidelity Series Value Discovery Fund (a) | | 4,390,816 | 69,901,785 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $404,611,969) | | | 596,382,490 |
|
| International Equity Funds - 25.0% | | | |
| Fidelity Series Canada Fund (a) | | 2,257,021 | 28,822,162 |
| Fidelity Series Emerging Markets Fund (a) | | 1,976,973 | 23,110,809 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 8,201,246 | 210,443,985 |
| Fidelity Series International Growth Fund (a) | | 4,502,097 | 80,767,622 |
| Fidelity Series International Small Cap Fund (a) | | 1,235,275 | 25,594,902 |
| Fidelity Series International Value Fund (a) | | 7,435,769 | 80,678,094 |
| Fidelity Series Overseas Fund (a) | | 6,415,734 | 80,902,403 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $347,700,311) | | | 530,319,977 |
|
| Bond Funds - 37.9% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 1,229,252 | 11,161,613 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 365,126 | 3,658,565 |
| Fidelity Series Floating Rate High Income Fund (a) | | 243,724 | 2,239,827 |
| Fidelity Series High Income Fund (a) | | 1,410,324 | 13,228,837 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 14,174,346 | 152,232,478 |
| Fidelity Series International Credit Fund (a) | | 157,009 | 1,566,949 |
| Fidelity Series Investment Grade Bond Fund (a) | | 48,079,309 | 554,354,434 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 7,267,991 | 57,417,129 |
| Fidelity Series Real Estate Income Fund (a) | | 730,527 | 8,072,324 |
| TOTAL BOND FUNDS | | | |
| (Cost $780,081,921) | | | 803,932,156 |
|
| Short-Term Funds - 9.0% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 1,880,531 | 1,880,907 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 157,038,457 | 157,038,457 |
| Fidelity Series Short-Term Credit Fund (a) | | 3,225,271 | 32,801,002 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $191,071,958) | | | 191,720,366 |
| TOTAL INVESTMENT IN SECURITIES - 100.1% | | | |
| (Cost $1,724,536,139) | | | 2,123,424,987 |
| NET OTHER ASSETS (LIABILITIES) - (0.1)% | | | (1,342,392) |
| NET ASSETS - 100% | | | $2,122,082,595 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $3,162 |
| Total | $3,162 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Advisor Series Equity Growth Fund | $56,424,775 | $21,431,629 | $30,567,241 | $15,208,978 | $8,692,552 | $13,078,286 | $69,060,001 |
| Fidelity Advisor Series Growth Opportunities Fund | 36,258,544 | 16,734,946 | 26,087,027 | 12,442,758 | 6,678,406 | 14,442,767 | 48,027,636 |
| Fidelity Advisor Series Small Cap Fund | 23,472,121 | 4,510,419 | 14,544,589 | 1,053,941 | 2,478,665 | 15,323,180 | 31,239,796 |
| Fidelity Series All-Sector Equity Fund | 24,957,973 | 5,423,492 | 12,613,639 | 3,460,948 | 586,700 | 11,166,945 | 29,521,471 |
| Fidelity Series Canada Fund | 20,817,784 | 4,893,375 | 8,449,844 | 594,242 | (175,800) | 11,736,647 | 28,822,162 |
| Fidelity Series Commodity Strategy Fund | 62,195,061 | 10,423,230 | 29,712,387 | 241,452 | (7,316,518) | 22,721,155 | 58,310,541 |
| Fidelity Series Emerging Markets Debt Fund | 11,703,842 | 845,339 | 2,907,632 | 612,284 | (176,037) | 1,696,101 | 11,161,613 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 4,072,373 | 375,881 | 56,473 | 9,266 | (47,193) | 3,658,565 |
| Fidelity Series Emerging Markets Fund | 13,887,141 | 5,945,425 | 7,336,797 | 336,358 | 592,157 | 10,022,883 | 23,110,809 |
| Fidelity Series Emerging Markets Opportunities Fund | 133,928,919 | 53,237,922 | 72,111,651 | 6,495,781 | 13,022,205 | 82,366,590 | 210,443,985 |
| Fidelity Series Floating Rate High Income Fund | 2,359,894 | 149,711 | 594,212 | 105,970 | (57,717) | 382,151 | 2,239,827 |
| Fidelity Series Government Money Market Fund 0.08% | 174,487,580 | 67,567,490 | 85,016,613 | 276,234 | -- | -- | 157,038,457 |
| Fidelity Series High Income Fund | 13,191,722 | 991,517 | 2,744,228 | 764,789 | (196,221) | 1,986,047 | 13,228,837 |
| Fidelity Series Inflation-Protected Bond Index Fund | 134,709,885 | 37,756,010 | 29,076,118 | 1,967,207 | 226,878 | 8,615,823 | 152,232,478 |
| Fidelity Series International Credit Fund | 1,399,702 | 107,618 | -- | 107,617 | -- | 59,629 | 1,566,949 |
| Fidelity Series International Growth Fund | 93,842,946 | 14,909,531 | 48,211,984 | 12,008,692 | 16,326,709 | 3,900,420 | 80,767,622 |
| Fidelity Series International Small Cap Fund | 21,811,936 | 601,895 | 7,571,535 | 221,265 | 2,431,591 | 8,321,015 | 25,594,902 |
| Fidelity Series International Value Fund | 79,959,397 | 7,999,051 | 42,489,169 | 2,374,764 | 859,242 | 34,349,573 | 80,678,094 |
| Fidelity Series Investment Grade Bond Fund | 492,021,965 | 175,945,814 | 111,536,639 | 32,745,814 | (147,871) | (1,928,835) | 554,354,434 |
| Fidelity Series Large Cap Stock Fund | 90,315,569 | 14,297,693 | 42,935,404 | 6,345,239 | 7,816,027 | 38,328,416 | 107,822,301 |
| Fidelity Series Large Cap Value Index Fund | 9,382,282 | 1,754,199 | 4,329,131 | 254,489 | 766,091 | 4,063,471 | 11,636,912 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 48,519,393 | 36,809,698 | 13,582,120 | 5,491,017 | 926,030 | (15,255,872) | 57,417,129 |
| Fidelity Series Opportunistic Insights Fund | 52,779,092 | 15,772,199 | 23,058,269 | 9,837,046 | 7,441,445 | 11,089,324 | 64,023,791 |
| Fidelity Series Overseas Fund | 78,348,582 | 5,335,548 | 34,549,910 | 958,070 | 61,309 | 31,706,874 | 80,902,403 |
| Fidelity Series Real Estate Income Fund | 7,762,552 | 689,414 | 2,675,745 | 548,850 | 65,586 | 2,230,517 | 8,072,324 |
| Fidelity Series Short-Term Credit Fund | 34,871,879 | 2,189,493 | 5,297,309 | 824,591 | 91,348 | 945,591 | 32,801,002 |
| Fidelity Series Small Cap Opportunities Fund | 29,675,940 | 5,520,283 | 17,286,705 | 859,534 | 4,867,724 | 15,776,888 | 38,554,130 |
| Fidelity Series Stock Selector Large Cap Value Fund | 56,594,104 | 7,495,260 | 27,137,826 | 1,576,825 | 3,224,182 | 28,108,406 | 68,284,126 |
| Fidelity Series Value Discovery Fund | 57,853,881 | 6,225,304 | 26,860,086 | 1,571,579 | 5,303,950 | 27,378,736 | 69,901,785 |
| | $1,863,534,461 | $529,635,878 | $729,659,691 | $119,342,807 | $74,397,899 | $382,565,535 | $2,120,474,082 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments and Net Other Assets | $1,069,998 | $-- | $1,069,998 | $-- |
| Domestic Equity Funds | 596,382,490 | 596,382,490 | -- | -- |
| International Equity Funds | 530,319,977 | 530,319,977 | -- | -- |
| Bond Funds | 803,932,156 | 803,932,156 | -- | -- |
| Short-Term Funds | 191,720,366 | 191,720,366 | -- | -- |
| Total Investments in Securities: | $2,123,424,987 | $2,122,354,989 | $1,069,998 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2020 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,069,980) | $1,069,998 | |
| Fidelity Central Funds (cost $1,880,907) | 1,880,907 | |
| Other affiliated issuers (cost $1,721,585,252) | 2,120,474,082 | |
| Total Investment in Securities (cost $1,724,536,139) | | $2,123,424,987 |
| Cash | | 1,568 |
| Receivable for investments sold | | 18,204,816 |
| Receivable for fund shares sold | | 1,501,455 |
| Distributions receivable from Fidelity Central Funds | | 92 |
| Receivable for daily variation margin on futures contracts | | 46,325 |
| Total assets | | 2,143,179,243 |
| Liabilities | | |
| Payable for investments purchased | $18,256,839 | |
| Payable for fund shares redeemed | 1,449,571 | |
| Accrued management fee | 1,034,407 | |
| Distribution and service plan fees payable | 355,831 | |
| Total liabilities | | 21,096,648 |
| Net Assets | | $2,122,082,595 |
| Net Assets consist of: | | |
| Paid in capital | | $1,629,297,568 |
| Total accumulated earnings (loss) | | 492,785,027 |
| Net Assets | | $2,122,082,595 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($877,841,507 ÷ 61,871,165 shares)(a) | | $14.19 |
| Maximum offering price per share (100/94.25 of $14.19) | | $15.06 |
| Class M: | | |
| Net Asset Value and redemption price per share ($309,455,771 ÷ 21,826,446 shares)(a) | | $14.18 |
| Maximum offering price per share (100/96.50 of $14.18) | | $14.69 |
| Class C: | | |
| Net Asset Value and offering price per share ($51,479,966 ÷ 3,669,585 shares)(a) | | $14.03 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($743,069,805 ÷ 51,895,160 shares) | | $14.32 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($45,836,092 ÷ 3,225,614 shares) | | $14.21 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($94,399,454 ÷ 6,621,543 shares) | | $14.26 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $33,691,397 |
| Interest | | 3,674 |
| Income from Fidelity Central Funds | | 3,162 |
| Total income | | 33,698,233 |
| Expenses | | |
| Management fee | $12,161,602 | |
| Distribution and service plan fees | 4,236,909 | |
| Independent trustees' fees and expenses | 6,061 | |
| Total expenses before reductions | 16,404,572 | |
| Expense reductions | (163) | |
| Total expenses after reductions | | 16,404,409 |
| Net investment income (loss) | | 17,293,824 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | 68 | |
| Fidelity Central Funds | (392) | |
| Other affiliated issuers | 74,397,931 | |
| Futures contracts | (1,302,168) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 85,651,410 | |
| Total net realized gain (loss) | | 158,746,849 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (1,697) | |
| Fidelity Central Funds | (101) | |
| Other affiliated issuers | 382,565,535 | |
| Total change in net unrealized appreciation (depreciation) | | 382,563,737 |
| Net gain (loss) | | 541,310,586 |
| Net increase (decrease) in net assets resulting from operations | | $558,604,410 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $17,293,824 | $33,685,728 |
| Net realized gain (loss) | 158,746,849 | 119,576,285 |
| Change in net unrealized appreciation (depreciation) | 382,563,737 | (223,185,697) |
| Net increase (decrease) in net assets resulting from operations | 558,604,410 | (69,923,684) |
| Distributions to shareholders | (150,975,667) | (150,473,417) |
| Share transactions - net increase (decrease) | (155,025,861) | (200,998,401) |
| Total increase (decrease) in net assets | 252,602,882 | (421,395,502) |
| Net Assets | | |
| Beginning of period | 1,869,479,713 | 2,290,875,215 |
| End of period | $2,122,082,595 | $1,869,479,713 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Advisor Freedom 2020 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.63 | $12.97 | $13.71 | $13.31 | $12.51 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .10 | .19 | .22 | .16 | .19 |
| Net realized and unrealized gain (loss) | 3.43 | (.65) | .18 | 1.05 | 1.16 |
| Total from investment operations | 3.53 | (.46) | .40 | 1.21 | 1.35 |
| Distributions from net investment income | (.12) | (.20) | (.22) | (.18) | (.19) |
| Distributions from net realized gain | (.85) | (.68) | (.92) | (.62) | (.36) |
| Total distributions | (.97) | (.88) | (1.14) | (.81)B | (.55) |
| Net asset value, end of period | $14.19 | $11.63 | $12.97 | $13.71 | $13.31 |
| Total ReturnC,D | 31.39% | (4.15)% | 3.40% | 9.15% | 11.17% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .84% | .85% | .86% | .76% | .25% |
| Expenses net of fee waivers, if any | .84% | .85% | .86% | .76% | .25% |
| Expenses net of all reductions | .84% | .85% | .86% | .76% | .25% |
| Net investment income (loss) | .78% | 1.46% | 1.68% | 1.18% | 1.46% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $877,842 | $800,330 | $1,038,299 | $1,196,128 | $1,315,261 |
| Portfolio turnover rateG | 26% | 25% | 22% | 20% | 19% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2020 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.62 | $12.96 | $13.71 | $13.30 | $12.51 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .07 | .16 | .19 | .13 | .15 |
| Net realized and unrealized gain (loss) | 3.43 | (.65) | .17 | 1.05 | 1.16 |
| Total from investment operations | 3.50 | (.49) | .36 | 1.18 | 1.31 |
| Distributions from net investment income | (.09) | (.17) | (.19) | (.15) | (.16) |
| Distributions from net realized gain | (.85) | (.68) | (.92) | (.62) | (.36) |
| Total distributions | (.94) | (.85) | (1.11) | (.77) | (.52) |
| Net asset value, end of period | $14.18 | $11.62 | $12.96 | $13.71 | $13.30 |
| Total ReturnB,C | 31.08% | (4.38)% | 3.07% | 8.97% | 10.81% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | 1.09% | 1.10% | 1.11% | 1.01% | .50% |
| Expenses net of fee waivers, if any | 1.09% | 1.10% | 1.11% | 1.01% | .50% |
| Expenses net of all reductions | 1.09% | 1.10% | 1.11% | 1.01% | .50% |
| Net investment income (loss) | .53% | 1.21% | 1.43% | .92% | 1.21% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $309,456 | $277,496 | $345,810 | $374,470 | $396,330 |
| Portfolio turnover rateF | 26% | 25% | 22% | 20% | 19% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Total returns do not include the effect of the sales charges.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2020 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.52 | $12.86 | $13.60 | $13.20 | $12.42 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | –B | .09 | .12 | .06 | .09 |
| Net realized and unrealized gain (loss) | 3.39 | (.64) | .17 | 1.05 | 1.15 |
| Total from investment operations | 3.39 | (.55) | .29 | 1.11 | 1.24 |
| Distributions from net investment income | (.04) | (.11) | (.14) | (.09) | (.10) |
| Distributions from net realized gain | (.84) | (.68) | (.90) | (.62) | (.36) |
| Total distributions | (.88) | (.79) | (1.03)C | (.71) | (.46) |
| Net asset value, end of period | $14.03 | $11.52 | $12.86 | $13.60 | $13.20 |
| Total ReturnD,E | 30.36% | (4.81)% | 2.55% | 8.45% | 10.26% |
| Ratios to Average Net AssetsF,G | | | | | |
| Expenses before reductions | 1.59% | 1.60% | 1.61% | 1.52% | 1.00% |
| Expenses net of fee waivers, if any | 1.59% | 1.60% | 1.61% | 1.52% | 1.00% |
| Expenses net of all reductions | 1.59% | 1.60% | 1.61% | 1.52% | 1.00% |
| Net investment income (loss) | .03% | .71% | .93% | .42% | .71% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $51,480 | $46,563 | $63,123 | $98,878 | $101,268 |
| Portfolio turnover rateH | 26% | 25% | 22% | 20% | 19% |
A Calculated based on average shares outstanding during the period.
B Amount represents less than $.005 per share.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the contingent deferred sales charge.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2020 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.73 | $13.07 | $13.82 | $13.41 | $12.61 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .14 | .22 | .26 | .20 | .22 |
| Net realized and unrealized gain (loss) | 3.46 | (.65) | .17 | 1.05 | 1.16 |
| Total from investment operations | 3.60 | (.43) | .43 | 1.25 | 1.38 |
| Distributions from net investment income | (.15) | (.23) | (.26) | (.22) | (.22) |
| Distributions from net realized gain | (.85) | (.68) | (.92) | (.62) | (.36) |
| Total distributions | (1.01)B | (.91) | (1.18) | (.84) | (.58) |
| Net asset value, end of period | $14.32 | $11.73 | $13.07 | $13.82 | $13.41 |
| Total ReturnC | 31.70% | (3.87)% | 3.61% | 9.45% | 11.36% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .59% | .60% | .61% | .52% | - %F |
| Expenses net of fee waivers, if any | .59% | .60% | .61% | .52% | -% |
| Expenses net of all reductions | .59% | .60% | .61% | .52% | -% |
| Net investment income (loss) | 1.03% | 1.71% | 1.92% | 1.42% | 1.71% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $743,070 | $654,422 | $795,372 | $803,562 | $743,042 |
| Portfolio turnover rateG | 26% | 25% | 22% | 20% | 19% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount represents less than .005%.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2020 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $11.65 | $13.02 | $13.69 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .23 | .21 |
| Net realized and unrealized gain (loss) | 3.43 | (.64) | (.15) |
| Total from investment operations | 3.58 | (.41) | .06 |
| Distributions from net investment income | (.17) | (.28) | (.30) |
| Distributions from net realized gain | (.85) | (.68) | (.43) |
| Total distributions | (1.02) | (.96) | (.73) |
| Net asset value, end of period | $14.21 | $11.65 | $13.02 |
| Total ReturnC,D | 31.82% | (3.82)% | .91% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .52% | .53%G | .54%G,H |
| Expenses net of fee waivers, if any | .52% | .53%G | .54%G,H |
| Expenses net of all reductions | .52% | .53%G | .54%G,H |
| Net investment income (loss) | 1.10% | 1.78% | 3.41%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $45,836 | $33,172 | $2,585 |
| Portfolio turnover rateI | 26% | 25% | 22% |
A For the period October 2, 2018 (commencement of sale of shares) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2020 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $11.69 | $13.04 | $13.81 | $13.62 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .16 | .25 | .28 | .08 |
| Net realized and unrealized gain (loss) | 3.45 | (.65) | .17 | .75 |
| Total from investment operations | 3.61 | (.40) | .45 | .83 |
| Distributions from net investment income | (.18) | (.27) | (.30) | (.23) |
| Distributions from net realized gain | (.85) | (.68) | (.92) | (.41) |
| Total distributions | (1.04)C | (.95) | (1.22) | (.64) |
| Net asset value, end of period | $14.26 | $11.69 | $13.04 | $13.81 |
| Total ReturnD,E | 31.94% | (3.72)% | 3.76% | 6.08% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .42% | .43% | .43% | .45%H,I |
| Expenses net of fee waivers, if any | .42% | .43% | .43% | .45%H,I |
| Expenses net of all reductions | .42% | .43% | .43% | .45%H,I |
| Net investment income (loss) | 1.20% | 1.88% | 2.10% | .71%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $94,399 | $57,497 | $45,686 | $29,132 |
| Portfolio turnover rateJ | 26% | 25% | 22% | 20% |
A For the period June 6, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2025 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 23.6 |
| Fidelity Series Emerging Markets Opportunities Fund | 10.6 |
| Fidelity Series Inflation-Protected Bond Index Fund | 6.3 |
| Fidelity Series Large Cap Stock Fund | 5.9 |
| Fidelity Series Government Money Market Fund 0.08% | 4.9 |
| Fidelity Series Overseas Fund | 4.3 |
| Fidelity Series International Growth Fund | 4.3 |
| Fidelity Series International Value Fund | 4.3 |
| Fidelity Series Value Discovery Fund | 3.8 |
| Fidelity Advisor Series Equity Growth Fund | 3.8 |
| | 71.8 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 32.0% |
| | International Equity Funds | 27.6% |
| | Bond Funds | 34.5% |
| | Short-Term Funds | 6.0% |
| | Net Other Assets (Liabilities)* | (0.1)% |
* Net Other Assets (Liabilities) are not included in the pie chart
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Advisor Freedom® 2025 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.06% to 0.08% 4/1/21 to 4/22/21 | | | |
| (Cost $1,379,981) | | 1,380,000 | 1,379,998 |
| | | Shares | Value |
|
| Domestic Equity Funds - 32.0% | | | |
| Fidelity Advisor Series Equity Growth Fund (a) | | 7,046,555 | $117,325,141 |
| Fidelity Advisor Series Growth Opportunities Fund (a) | | 4,836,384 | 81,589,798 |
| Fidelity Advisor Series Small Cap Fund (a) | | 3,478,089 | 53,075,634 |
| Fidelity Series All-Sector Equity Fund (a) | | 4,275,921 | 50,156,552 |
| Fidelity Series Commodity Strategy Fund (a) | | 17,533,470 | 85,914,004 |
| Fidelity Series Large Cap Stock Fund(a) | | 9,928,995 | 183,189,958 |
| Fidelity Series Large Cap Value Index Fund (a) | | 1,345,888 | 19,771,097 |
| Fidelity Series Opportunistic Insights Fund (a) | | 5,350,244 | 108,770,464 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 3,696,665 | 65,504,909 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 8,130,014 | 116,015,293 |
| Fidelity Series Value Discovery Fund (a) | | 7,460,016 | 118,763,449 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $684,500,815) | | | 1,000,076,299 |
|
| International Equity Funds - 27.6% | | | |
| Fidelity Series Canada Fund (a) | | 3,750,849 | 47,898,345 |
| Fidelity Series Emerging Markets Fund (a) | | 3,127,822 | 36,564,242 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 12,948,367 | 332,255,096 |
| Fidelity Series International Growth Fund (a) | | 7,481,861 | 134,224,589 |
| Fidelity Series International Small Cap Fund (a) | | 2,052,924 | 42,536,580 |
| Fidelity Series International Value Fund (a) | | 12,357,254 | 134,076,208 |
| Fidelity Series Overseas Fund (a) | | 10,662,043 | 134,448,368 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $580,548,478) | | | 862,003,428 |
|
| Bond Funds - 34.5% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 1,822,762 | 16,550,675 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 536,333 | 5,374,056 |
| Fidelity Series Floating Rate High Income Fund (a) | | 358,606 | 3,295,592 |
| Fidelity Series High Income Fund (a) | | 2,072,707 | 19,441,988 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 18,466,505 | 198,330,262 |
| Fidelity Series International Credit Fund (a) | | 182,031 | 1,816,672 |
| Fidelity Series Investment Grade Bond Fund (a) | | 63,872,687 | 736,452,079 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 10,715,951 | 84,656,016 |
| Fidelity Series Real Estate Income Fund (a) | | 1,075,812 | 11,887,719 |
| TOTAL BOND FUNDS | | | |
| (Cost $1,059,952,820) | | | 1,077,805,059 |
|
| Short-Term Funds - 6.0% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 2,892,566 | 2,893,144 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 151,643,561 | 151,643,561 |
| Fidelity Series Short-Term Credit Fund (a) | | 3,105,333 | 31,581,232 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $185,530,799) | | | 186,117,937 |
| TOTAL INVESTMENT IN SECURITIES - 100.1% | | | |
| (Cost $2,511,912,893) | | | 3,127,382,721 |
| NET OTHER ASSETS (LIABILITIES) - (0.1)% | | | (2,050,069) |
| NET ASSETS - 100% | | | $3,125,332,652 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $4,548 |
| Total | $4,548 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Advisor Series Equity Growth Fund | $87,460,082 | $36,472,626 | $39,946,223 | $24,812,260 | $10,486,850 | $22,851,806 | $117,325,141 |
| Fidelity Advisor Series Growth Opportunities Fund | 56,215,023 | 28,280,197 | 35,406,195 | 20,324,686 | 8,883,948 | 23,616,825 | 81,589,798 |
| Fidelity Advisor Series Small Cap Fund | 36,379,080 | 7,440,718 | 19,268,246 | 1,723,130 | 3,170,608 | 25,353,474 | 53,075,634 |
| Fidelity Series All-Sector Equity Fund | 38,592,517 | 9,312,381 | 16,200,464 | 5,726,968 | 634,172 | 17,817,946 | 50,156,552 |
| Fidelity Series Canada Fund | 31,394,529 | 8,230,951 | 9,657,772 | 946,341 | (210,658) | 18,141,295 | 47,898,345 |
| Fidelity Series Commodity Strategy Fund | 83,246,186 | 17,702,069 | 36,419,841 | 334,321 | (10,866,754) | 32,252,344 | 85,914,004 |
| Fidelity Series Emerging Markets Debt Fund | 15,537,834 | 1,626,552 | 2,608,954 | 839,518 | (139,774) | 2,135,017 | 16,550,675 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 5,752,372 | 320,516 | 80,676 | 5,196 | (62,996) | 5,374,056 |
| Fidelity Series Emerging Markets Fund | 20,237,886 | 9,200,843 | 8,520,324 | 509,430 | 556,248 | 15,089,589 | 36,564,242 |
| Fidelity Series Emerging Markets Opportunities Fund | 195,001,160 | 80,011,375 | 83,036,599 | 9,841,450 | 9,295,119 | 130,984,041 | 332,255,096 |
| Fidelity Series Floating Rate High Income Fund | 3,191,164 | 280,768 | 624,173 | 148,505 | (45,681) | 493,514 | 3,295,592 |
| Fidelity Series Government Money Market Fund 0.08% | 164,696,706 | 80,471,124 | 93,524,269 | 257,497 | -- | -- | 151,643,561 |
| Fidelity Series High Income Fund | 17,771,699 | 1,757,461 | 2,527,267 | 1,066,051 | (93,842) | 2,533,937 | 19,441,988 |
| Fidelity Series Inflation-Protected Bond Index Fund | 160,441,556 | 52,757,361 | 25,554,294 | 2,475,115 | 184,474 | 10,501,165 | 198,330,262 |
| Fidelity Series International Credit Fund | 1,622,771 | 124,769 | -- | 124,768 | -- | 69,132 | 1,816,672 |
| Fidelity Series International Growth Fund | 139,525,213 | 26,107,962 | 61,734,029 | 19,139,682 | 19,097,116 | 11,228,327 | 134,224,589 |
| Fidelity Series International Small Cap Fund | 32,315,563 | 1,631,416 | 8,052,321 | 352,315 | 1,891,334 | 14,750,588 | 42,536,580 |
| Fidelity Series International Value Fund | 119,395,743 | 14,960,787 | 55,156,450 | 3,780,189 | (806,534) | 55,682,662 | 134,076,208 |
| Fidelity Series Investment Grade Bond Fund | 589,096,992 | 254,828,142 | 102,657,897 | 40,887,122 | (728,026) | (4,087,132) | 736,452,079 |
| Fidelity Series Large Cap Stock Fund | 140,947,103 | 22,903,360 | 54,733,019 | 10,083,379 | 7,871,738 | 66,200,776 | 183,189,958 |
| Fidelity Series Large Cap Value Index Fund | 14,557,841 | 2,966,026 | 5,497,113 | 417,356 | 918,090 | 6,826,253 | 19,771,097 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 64,449,359 | 54,422,764 | 13,767,469 | 7,688,024 | 1,312,812 | (21,761,450) | 84,656,016 |
| Fidelity Series Opportunistic Insights Fund | 81,798,486 | 27,655,489 | 29,294,642 | 15,978,632 | 9,567,634 | 19,043,497 | 108,770,464 |
| Fidelity Series Overseas Fund | 116,949,455 | 9,555,599 | 40,837,886 | 1,525,609 | (439,261) | 49,220,461 | 134,448,368 |
| Fidelity Series Real Estate Income Fund | 10,167,652 | 1,167,957 | 2,552,951 | 740,691 | (108,979) | 3,214,040 | 11,887,719 |
| Fidelity Series Short-Term Credit Fund | 28,820,302 | 2,297,363 | 376,093 | 690,630 | (2,958) | 842,618 | 31,581,232 |
| Fidelity Series Small Cap Opportunities Fund | 46,096,898 | 8,925,925 | 22,597,941 | 1,387,116 | 4,666,811 | 28,413,216 | 65,504,909 |
| Fidelity Series Stock Selector Large Cap Value Fund | 88,686,437 | 12,480,355 | 35,526,176 | 2,574,922 | 4,121,028 | 46,253,649 | 116,015,293 |
| Fidelity Series Value Discovery Fund | 89,619,864 | 11,824,046 | 34,934,084 | 2,566,185 | 6,304,451 | 45,949,172 | 118,763,449 |
| | $2,474,215,101 | $791,148,758 | $841,333,208 | $177,022,568 | $75,525,162 | $623,553,766 | $3,123,109,579 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments and Net Other Assets | $1,379,998 | $-- | $1,379,998 | $-- |
| Domestic Equity Funds | 1,000,076,299 | 1,000,076,299 | -- | -- |
| International Equity Funds | 862,003,428 | 862,003,428 | -- | -- |
| Bond Funds | 1,077,805,059 | 1,077,805,059 | -- | -- |
| Short-Term Funds | 186,117,937 | 186,117,937 | -- | -- |
| Total Investments in Securities: | $3,127,382,721 | $3,126,002,723 | $1,379,998 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2025 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,379,981) | $1,379,998 | |
| Fidelity Central Funds (cost $2,893,144) | 2,893,144 | |
| Other affiliated issuers (cost $2,507,639,768) | 3,123,109,579 | |
| Total Investment in Securities (cost $2,511,912,893) | | $3,127,382,721 |
| Cash | | 4,099 |
| Receivable for investments sold | | 28,777,892 |
| Receivable for fund shares sold | | 1,913,484 |
| Distributions receivable from Fidelity Central Funds | | 143 |
| Receivable for daily variation margin on futures contracts | | 68,134 |
| Total assets | | 3,158,146,473 |
| Liabilities | | |
| Payable for investments purchased | $28,659,382 | |
| Payable for fund shares redeemed | 2,033,259 | |
| Accrued management fee | 1,624,974 | |
| Distribution and service plan fees payable | 496,206 | |
| Total liabilities | | 32,813,821 |
| Net Assets | | $3,125,332,652 |
| Net Assets consist of: | | |
| Paid in capital | | $2,386,395,362 |
| Total accumulated earnings (loss) | | 738,937,290 |
| Net Assets | | $3,125,332,652 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($1,276,608,641 ÷ 87,315,082 shares)(a) | | $14.62 |
| Maximum offering price per share (100/94.25 of $14.62) | | $15.51 |
| Class M: | | |
| Net Asset Value and redemption price per share ($432,038,193 ÷ 29,501,741 shares)(a) | | $14.64 |
| Maximum offering price per share (100/96.50 of $14.64) | | $15.17 |
| Class C: | | |
| Net Asset Value and offering price per share ($60,127,927 ÷ 4,195,862 shares)(a) | | $14.33 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($1,150,781,986 ÷ 77,899,155 shares) | | $14.77 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($60,904,514 ÷ 4,156,266 shares) | | $14.65 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($144,871,391 ÷ 9,846,538 shares) | | $14.71 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $47,797,103 |
| Interest | | 4,151 |
| Income from Fidelity Central Funds | | 4,548 |
| Total income | | 47,805,802 |
| Expenses | | |
| Management fee | $18,149,433 | |
| Distribution and service plan fees | 5,660,710 | |
| Independent trustees' fees and expenses | 8,343 | |
| Total expenses before reductions | 23,818,486 | |
| Expense reductions | (139) | |
| Total expenses after reductions | | 23,818,347 |
| Net investment income (loss) | | 23,987,455 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | 101 | |
| Fidelity Central Funds | (537) | |
| Other affiliated issuers | 75,525,162 | |
| Futures contracts | (1,420,002) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 129,225,465 | |
| Total net realized gain (loss) | | 203,330,189 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (1,491) | |
| Fidelity Central Funds | (187) | |
| Other affiliated issuers | 623,553,766 | |
| Total change in net unrealized appreciation (depreciation) | | 623,552,088 |
| Net gain (loss) | | 826,882,277 |
| Net increase (decrease) in net assets resulting from operations | | $850,869,732 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $23,987,455 | $42,568,074 |
| Net realized gain (loss) | 203,330,189 | 137,576,481 |
| Change in net unrealized appreciation (depreciation) | 623,552,088 | (306,768,217) |
| Net increase (decrease) in net assets resulting from operations | 850,869,732 | (126,623,662) |
| Distributions to shareholders | (186,504,252) | (191,668,113) |
| Share transactions - net increase (decrease) | (21,442,735) | (102,512,436) |
| Total increase (decrease) in net assets | 642,922,745 | (420,804,211) |
| Net Assets | | |
| Beginning of period | 2,482,409,907 | 2,903,214,118 |
| End of period | $3,125,332,652 | $2,482,409,907 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Advisor Freedom 2025 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.55 | $12.99 | $13.74 | $13.16 | $12.29 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .10 | .18 | .21 | .15 | .18 |
| Net realized and unrealized gain (loss) | 3.84 | (.76) | .18 | 1.15 | 1.24 |
| Total from investment operations | 3.94 | (.58) | .39 | 1.30 | 1.42 |
| Distributions from net investment income | (.12) | (.19) | (.21) | (.17) | (.18) |
| Distributions from net realized gain | (.76) | (.67) | (.93) | (.55) | (.37) |
| Total distributions | (.87)B | (.86) | (1.14) | (.72) | (.55) |
| Net asset value, end of period | $14.62 | $11.55 | $12.99 | $13.74 | $13.16 |
| Total ReturnC,D | 35.22% | (5.09)% | 3.34% | 9.96% | 12.00% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .89% | .89% | .90% | .80% | .25% |
| Expenses net of fee waivers, if any | .89% | .89% | .90% | .80% | .25% |
| Expenses net of all reductions | .89% | .89% | .90% | .80% | .25% |
| Net investment income (loss) | .76% | 1.40% | 1.62% | 1.11% | 1.43% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $1,276,609 | $1,043,442 | $1,304,020 | $1,435,987 | $1,503,384 |
| Portfolio turnover rateG | 28% | 29% | 24% | 23% | 20% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2025 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.57 | $13.01 | $13.76 | $13.18 | $12.31 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .07 | .15 | .18 | .12 | .15 |
| Net realized and unrealized gain (loss) | 3.84 | (.76) | .18 | 1.15 | 1.24 |
| Total from investment operations | 3.91 | (.61) | .36 | 1.27 | 1.39 |
| Distributions from net investment income | (.09) | (.16) | (.19) | (.14) | (.15) |
| Distributions from net realized gain | (.75) | (.67) | (.92) | (.55) | (.37) |
| Total distributions | (.84) | (.83) | (1.11) | (.69) | (.52) |
| Net asset value, end of period | $14.64 | $11.57 | $13.01 | $13.76 | $13.18 |
| Total ReturnB,C | 34.85% | (5.31)% | 3.09% | 9.69% | 11.70% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | 1.14% | 1.14% | 1.15% | 1.05% | .50% |
| Expenses net of fee waivers, if any | 1.14% | 1.14% | 1.15% | 1.05% | .50% |
| Expenses net of all reductions | 1.14% | 1.14% | 1.15% | 1.05% | .50% |
| Net investment income (loss) | .51% | 1.15% | 1.37% | .86% | 1.18% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $432,038 | $362,131 | $423,584 | $432,227 | $418,713 |
| Portfolio turnover rateF | 28% | 29% | 24% | 23% | 20% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Total returns do not include the effect of the sales charges.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2025 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.35 | $12.80 | $13.54 | $12.98 | $12.14 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | –B | .08 | .11 | .05 | .08 |
| Net realized and unrealized gain (loss) | 3.77 | (.75) | .18 | 1.13 | 1.23 |
| Total from investment operations | 3.77 | (.67) | .29 | 1.18 | 1.31 |
| Distributions from net investment income | (.04) | (.11) | (.13) | (.08) | (.10) |
| Distributions from net realized gain | (.75) | (.66) | (.91) | (.54) | (.37) |
| Total distributions | (.79) | (.78)C | (1.03)C | (.62) | (.47) |
| Net asset value, end of period | $14.33 | $11.35 | $12.80 | $13.54 | $12.98 |
| Total ReturnD,E | 34.28% | (5.85)% | 2.59% | 9.14% | 11.13% |
| Ratios to Average Net AssetsF,G | | | | | |
| Expenses before reductions | 1.64% | 1.64% | 1.65% | 1.55% | 1.00% |
| Expenses net of fee waivers, if any | 1.64% | 1.64% | 1.65% | 1.55% | 1.00% |
| Expenses net of all reductions | 1.64% | 1.64% | 1.65% | 1.55% | 1.00% |
| Net investment income (loss) | .01% | .65% | .87% | .36% | .68% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $60,128 | $51,559 | $64,691 | $97,691 | $97,994 |
| Portfolio turnover rateH | 28% | 29% | 24% | 23% | 20% |
A Calculated based on average shares outstanding during the period.
B Amount represents less than $.005 per share.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the contingent deferred sales charge.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2025 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.66 | $13.11 | $13.86 | $13.27 | $12.39 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .14 | .22 | .25 | .19 | .21 |
| Net realized and unrealized gain (loss) | 3.88 | (.77) | .18 | 1.16 | 1.26 |
| Total from investment operations | 4.02 | (.55) | .43 | 1.35 | 1.47 |
| Distributions from net investment income | (.15) | (.22) | (.25) | (.21) | (.21) |
| Distributions from net realized gain | (.76) | (.67) | (.93) | (.55) | (.37) |
| Total distributions | (.91) | (.90)B | (1.18) | (.76) | (.59)B |
| Net asset value, end of period | $14.77 | $11.66 | $13.11 | $13.86 | $13.27 |
| Total ReturnC | 35.57% | (4.89)% | 3.63% | 10.26% | 12.26% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .64% | .64% | .65% | .56% | - %F |
| Expenses net of fee waivers, if any | .64% | .64% | .65% | .56% | -% |
| Expenses net of all reductions | .64% | .64% | .65% | .56% | -% |
| Net investment income (loss) | 1.01% | 1.65% | 1.87% | 1.35% | 1.68% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $1,150,782 | $911,020 | $1,051,420 | $1,018,536 | $879,740 |
| Portfolio turnover rateG | 28% | 29% | 24% | 23% | 20% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount represents less than .005%.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2025 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $11.58 | $13.05 | $13.78 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .23 | .03 |
| Net realized and unrealized gain (loss) | 3.85 | (.76) | (.02) |
| Total from investment operations | 4.00 | (.53) | .01 |
| Distributions from net investment income | (.17) | (.27) | (.30) |
| Distributions from net realized gain | (.76) | (.67) | (.44) |
| Total distributions | (.93) | (.94) | (.74) |
| Net asset value, end of period | $14.65 | $11.58 | $13.05 |
| Total ReturnC,D | 35.65% | (4.77)% | .56% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .55% | .56% | .56%G |
| Expenses net of fee waivers, if any | .55% | .56% | .56%G |
| Expenses net of all reductions | .55% | .56% | .56%G |
| Net investment income (loss) | 1.10% | 1.74% | .43%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $60,905 | $36,620 | $3,396 |
| Portfolio turnover rateH | 28% | 29% | 24% |
A For the period October 2, 2018 (commencement of sale of shares) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2025 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $11.62 | $13.08 | $13.85 | $13.53 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .16 | .24 | .27 | .10 |
| Net realized and unrealized gain (loss) | 3.87 | (.77) | .18 | .80 |
| Total from investment operations | 4.03 | (.53) | .45 | .90 |
| Distributions from net investment income | (.18) | (.26) | (.29) | (.22) |
| Distributions from net realized gain | (.76) | (.67) | (.93) | (.36) |
| Total distributions | (.94) | (.93) | (1.22) | (.58) |
| Net asset value, end of period | $14.71 | $11.62 | $13.08 | $13.85 |
| Total ReturnC,D | 35.82% | (4.72)% | 3.85% | 6.61% |
| Ratios to Average Net AssetsE,F | | | | |
| Expenses before reductions | .44% | .45% | .45% | .47%G,H |
| Expenses net of fee waivers, if any | .44% | .45% | .45% | .47%G,H |
| Expenses net of all reductions | .44% | .45% | .45% | .47%G,H |
| Net investment income (loss) | 1.21% | 1.85% | 2.07% | .89%G |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $144,871 | $77,638 | $56,103 | $24,926 |
| Portfolio turnover rateI | 28% | 29% | 24% | 23% |
A For the period June 6, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2030 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 20.6 |
| Fidelity Series Emerging Markets Opportunities Fund | 11.5 |
| Fidelity Series Large Cap Stock Fund | 6.8 |
| Fidelity Series Inflation-Protected Bond Index Fund | 5.6 |
| Fidelity Series Overseas Fund | 4.9 |
| Fidelity Series International Growth Fund | 4.9 |
| Fidelity Series International Value Fund | 4.8 |
| Fidelity Series Value Discovery Fund | 4.4 |
| Fidelity Advisor Series Equity Growth Fund | 4.3 |
| Fidelity Series Stock Selector Large Cap Value Fund | 4.3 |
| | 72.1 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 36.5% |
| | International Equity Funds | 30.6% |
| | Bond Funds | 30.8% |
| | Short-Term Funds | 2.2% |
| | Net Other Assets (Liabilities)* | (0.1)% |
* Net Other Assets (Liabilities) are not included in the pie chart
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Advisor Freedom® 2030 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.08% to 0.08% 4/1/21 to 4/22/21 | | | |
| (Cost $1,419,983) | | 1,420,000 | 1,419,998 |
| | | Shares | Value |
|
| Domestic Equity Funds - 36.5% | | | |
| Fidelity Advisor Series Equity Growth Fund (a) | | 8,980,779 | $149,529,963 |
| Fidelity Advisor Series Growth Opportunities Fund (a) | | 6,164,596 | 103,996,741 |
| Fidelity Advisor Series Small Cap Fund (a) | | 4,433,212 | 67,650,819 |
| Fidelity Series All-Sector Equity Fund (a) | | 5,450,117 | 63,929,868 |
| Fidelity Series Commodity Strategy Fund (a) | | 19,396,433 | 95,042,520 |
| Fidelity Series Large Cap Stock Fund (a) | | 12,655,469 | 233,493,403 |
| Fidelity Series Large Cap Value Index Fund (a) | | 1,715,466 | 25,200,199 |
| Fidelity Series Opportunistic Insights Fund (a) | | 6,819,239 | 138,635,127 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 4,711,935 | 83,495,484 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 10,362,441 | 147,872,038 |
| Fidelity Series Value Discovery Fund (a) | | 9,508,497 | 151,375,272 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $865,831,129) | | | 1,260,221,434 |
|
| International Equity Funds - 30.6% | | | |
| Fidelity Series Canada Fund (a) | | 4,687,602 | 59,860,681 |
| Fidelity Series Emerging Markets Fund (a) | | 3,730,876 | 43,613,936 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 15,416,721 | 395,593,052 |
| Fidelity Series International Growth Fund (a) | | 9,350,373 | 167,745,684 |
| Fidelity Series International Small Cap Fund (a) | | 2,565,617 | 53,159,585 |
| Fidelity Series International Value Fund (a) | | 15,443,318 | 167,560,003 |
| Fidelity Series Overseas Fund (a) | | 13,324,781 | 168,025,490 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $722,185,108) | | | 1,055,558,431 |
|
| Bond Funds - 30.8% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 2,027,483 | 18,409,545 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 590,885 | 5,920,666 |
| Fidelity Series Floating Rate High Income Fund (a) | | 395,086 | 3,630,840 |
| Fidelity Series High Income Fund (a) | | 2,283,595 | 21,420,125 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 17,964,903 | 192,943,059 |
| Fidelity Series International Credit Fund (a) | | 178,476 | 1,781,187 |
| Fidelity Series Investment Grade Bond Fund (a) | | 61,753,818 | 712,021,525 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 11,854,767 | 93,652,657 |
| Fidelity Series Real Estate Income Fund (a) | | 1,188,829 | 13,136,561 |
| TOTAL BOND FUNDS | | | |
| (Cost $1,052,209,710) | | | 1,062,916,165 |
|
| Short-Term Funds - 2.2% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 3,331,632 | 3,332,299 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 60,525,573 | 60,525,573 |
| Fidelity Series Short-Term Credit Fund (a) | | 1,218,865 | 12,395,858 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $76,132,685) | | | 76,253,730 |
| TOTAL INVESTMENT IN SECURITIES - 100.1% | | | |
| (Cost $2,717,778,615) | | | 3,456,369,758 |
| NET OTHER ASSETS (LIABILITIES) - (0.1)% | | | (2,372,493) |
| NET ASSETS - 100% | | | $3,453,997,265 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $5,252 |
| Total | $5,252 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Advisor Series Equity Growth Fund | $111,240,654 | $45,195,307 | $48,791,672 | $31,307,717 | $12,727,137 | $29,158,537 | $149,529,963 |
| Fidelity Advisor Series Growth Opportunities Fund | 71,520,474 | 35,557,397 | 43,662,287 | 25,822,786 | 10,379,556 | 30,201,601 | 103,996,741 |
| Fidelity Advisor Series Small Cap Fund | 46,344,617 | 8,111,847 | 22,952,363 | 2,191,804 | 3,830,386 | 32,316,332 | 67,650,819 |
| Fidelity Series All-Sector Equity Fund | 48,155,332 | 10,884,875 | 18,307,286 | 7,289,951 | 831,006 | 22,365,941 | 63,929,868 |
| Fidelity Series Canada Fund | 37,606,265 | 11,431,174 | 11,258,819 | 1,177,522 | (252,117) | 22,334,178 | 59,860,681 |
| Fidelity Series Commodity Strategy Fund | 87,773,356 | 21,024,551 | 36,766,941 | 361,188 | (11,592,017) | 34,603,571 | 95,042,520 |
| Fidelity Series Emerging Markets Debt Fund | 16,302,221 | 2,111,253 | 2,086,783 | 894,584 | (37,759) | 2,120,613 | 18,409,545 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 6,207,566 | 238,699 | 88,165 | 1,575 | (49,776) | 5,920,666 |
| Fidelity Series Emerging Markets Fund | 23,842,722 | 10,376,699 | 8,859,808 | 601,730 | 551,685 | 17,702,638 | 43,613,936 |
| Fidelity Series Emerging Markets Opportunities Fund | 226,796,283 | 89,873,123 | 84,868,382 | 11,627,363 | 8,547,801 | 155,244,227 | 395,593,052 |
| Fidelity Series Floating Rate High Income Fund | 3,265,544 | 348,809 | 444,910 | 154,976 | (27,526) | 488,923 | 3,630,840 |
| Fidelity Series Government Money Market Fund 0.08% | 81,086,548 | 78,127,760 | 98,688,735 | 94,425 | -- | -- | 60,525,573 |
| Fidelity Series High Income Fund | 18,933,845 | 2,133,982 | 2,260,653 | 1,150,491 | (66,770) | 2,679,721 | 21,420,125 |
| Fidelity Series Inflation-Protected Bond Index Fund | 137,094,285 | 66,543,904 | 20,388,460 | 2,370,041 | 110,496 | 9,582,834 | 192,943,059 |
| Fidelity Series International Credit Fund | 1,591,074 | 122,331 | -- | 122,331 | -- | 67,782 | 1,781,187 |
| Fidelity Series International Growth Fund | 166,883,436 | 33,811,561 | 69,568,173 | 23,834,386 | 19,942,646 | 16,676,214 | 167,745,684 |
| Fidelity Series International Small Cap Fund | 38,534,871 | 2,207,252 | 7,937,970 | 438,357 | 1,683,165 | 18,672,267 | 53,159,585 |
| Fidelity Series International Value Fund | 144,449,251 | 17,784,016 | 62,288,404 | 4,700,249 | (2,227,930) | 69,843,070 | 167,560,003 |
| Fidelity Series Investment Grade Bond Fund | 519,669,402 | 282,321,403 | 83,772,593 | 37,708,331 | (607,644) | (5,589,043) | 712,021,525 |
| Fidelity Series Large Cap Stock Fund | 177,471,890 | 27,253,699 | 64,654,041 | 12,687,779 | 7,351,313 | 86,070,542 | 233,493,403 |
| Fidelity Series Large Cap Value Index Fund | 18,531,443 | 3,372,016 | 6,523,777 | 533,821 | 1,073,631 | 8,746,886 | 25,200,199 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 66,315,452 | 61,628,761 | 11,954,333 | 8,339,887 | 1,063,893 | (23,401,116) | 93,652,657 |
| Fidelity Series Opportunistic Insights Fund | 104,031,816 | 35,104,299 | 36,449,718 | 20,188,782 | 12,008,153 | 23,940,577 | 138,635,127 |
| Fidelity Series Overseas Fund | 141,056,710 | 10,768,576 | 43,391,061 | 1,898,217 | (282,296) | 59,873,561 | 168,025,490 |
| Fidelity Series Real Estate Income Fund | 10,506,176 | 1,359,312 | 1,992,605 | 772,509 | (68,302) | 3,331,980 | 13,136,561 |
| Fidelity Series Short-Term Credit Fund | 4,719,175 | 8,778,339 | 1,209,451 | 126,887 | (4,576) | 112,371 | 12,395,858 |
| Fidelity Series Small Cap Opportunities Fund | 58,673,187 | 9,856,791 | 26,802,308 | 1,757,219 | 5,327,274 | 36,440,540 | 83,495,484 |
| Fidelity Series Stock Selector Large Cap Value Fund | 109,453,601 | 17,421,598 | 42,392,346 | 3,273,580 | 3,668,546 | 59,720,639 | 147,872,038 |
| Fidelity Series Value Discovery Fund | 113,582,046 | 13,569,071 | 41,558,510 | 3,262,349 | 6,147,954 | 59,634,711 | 151,375,272 |
| | $2,585,431,676 | $913,287,272 | $900,071,088 | $204,777,427 | $80,079,280 | $772,890,321 | $3,451,617,461 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments and Net Other Assets | $1,419,998 | $-- | $1,419,998 | $-- |
| Domestic Equity Funds | 1,260,221,434 | 1,260,221,434 | -- | -- |
| International Equity Funds | 1,055,558,431 | 1,055,558,431 | -- | -- |
| Bond Funds | 1,062,916,165 | 1,062,916,165 | -- | -- |
| Short-Term Funds | 76,253,730 | 76,253,730 | -- | -- |
| Total Investments in Securities: | $3,456,369,758 | $3,454,949,760 | $1,419,998 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2030 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,419,983) | $1,419,998 | |
| Fidelity Central Funds (cost $3,332,246) | 3,332,299 | |
| Other affiliated issuers (cost $2,713,026,386) | 3,451,617,461 | |
| Total Investment in Securities (cost $2,717,778,615) | | $3,456,369,758 |
| Cash | | 13,612 |
| Receivable for investments sold | | 37,562,446 |
| Receivable for fund shares sold | | 3,672,409 |
| Distributions receivable from Fidelity Central Funds | | 166 |
| Receivable for daily variation margin on futures contracts | | 64,826 |
| Total assets | | 3,497,683,217 |
| Liabilities | | |
| Payable for investments purchased | $37,908,547 | |
| Payable for fund shares redeemed | 3,328,112 | |
| Accrued management fee | 1,907,616 | |
| Distribution and service plan fees payable | 541,677 | |
| Total liabilities | | 43,685,952 |
| Net Assets | | $3,453,997,265 |
| Net Assets consist of: | | |
| Paid in capital | | $2,574,845,150 |
| Total accumulated earnings (loss) | | 879,152,115 |
| Net Assets | | $3,453,997,265 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($1,318,549,418 ÷ 82,419,730 shares)(a) | | $16.00 |
| Maximum offering price per share (100/94.25 of $16.00) | | $16.98 |
| Class M: | | |
| Net Asset Value and redemption price per share ($502,609,699 ÷ 31,644,857 shares)(a) | | $15.88 |
| Maximum offering price per share (100/96.50 of $15.88) | | $16.46 |
| Class C: | | |
| Net Asset Value and offering price per share ($69,899,215 ÷ 4,480,760 shares)(a) | | $15.60 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($1,325,192,219 ÷ 82,289,402 shares) | | $16.10 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($63,499,211 ÷ 3,973,664 shares) | | $15.98 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($174,247,503 ÷ 10,866,999 shares) | | $16.03 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $52,636,219 |
| Interest | | 4,173 |
| Income from Fidelity Central Funds | | 5,252 |
| Total income | | 52,645,644 |
| Expenses | | |
| Management fee | $20,923,243 | |
| Distribution and service plan fees | 6,067,353 | |
| Independent trustees' fees and expenses | 8,956 | |
| Total expenses before reductions | 26,999,552 | |
| Expense reductions | (105) | |
| Total expenses after reductions | | 26,999,447 |
| Net investment income (loss) | | 25,646,197 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | 125 | |
| Fidelity Central Funds | (632) | |
| Other affiliated issuers | 80,079,567 | |
| Futures contracts | (2,065,185) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 152,141,208 | |
| Total net realized gain (loss) | | 230,155,083 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (1,213) | |
| Fidelity Central Funds | (208) | |
| Other affiliated issuers | 772,890,321 | |
| Total change in net unrealized appreciation (depreciation) | | 772,888,900 |
| Net gain (loss) | | 1,003,043,983 |
| Net increase (decrease) in net assets resulting from operations | | $1,028,690,180 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $25,646,197 | $42,712,126 |
| Net realized gain (loss) | 230,155,083 | 151,887,327 |
| Change in net unrealized appreciation (depreciation) | 772,888,900 | (372,090,482) |
| Net increase (decrease) in net assets resulting from operations | 1,028,690,180 | (177,491,029) |
| Distributions to shareholders | (211,698,260) | (210,658,751) |
| Share transactions - net increase (decrease) | 42,304,748 | 10,421,348 |
| Total increase (decrease) in net assets | 859,296,668 | (377,728,432) |
| Net Assets | | |
| Beginning of period | 2,594,700,597 | 2,972,429,029 |
| End of period | $3,453,997,265 | $2,594,700,597 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Advisor Freedom 2030 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.21 | $14.01 | $14.95 | $14.12 | $12.99 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .11 | .19 | .23 | .15 | .18 |
| Net realized and unrealized gain (loss) | 4.67 | (1.01) | .19 | 1.50 | 1.57 |
| Total from investment operations | 4.78 | (.82) | .42 | 1.65 | 1.75 |
| Distributions from net investment income | (.13) | (.19) | (.24) | (.16) | (.18) |
| Distributions from net realized gain | (.87) | (.79) | (1.13) | (.66) | (.44) |
| Total distributions | (.99)B | (.98) | (1.36)B | (.82) | (.62) |
| Net asset value, end of period | $16.00 | $12.21 | $14.01 | $14.95 | $14.12 |
| Total ReturnC,D | 40.51% | (6.61)% | 3.43% | 11.80% | 14.02% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .93% | .94% | .94%G | .84% | .25% |
| Expenses net of fee waivers, if any | .93% | .94% | .94%G | .84% | .25% |
| Expenses net of all reductions | .93% | .94% | .94%G | .84% | .25% |
| Net investment income (loss) | .75% | 1.35% | 1.57% | .99% | 1.34% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $1,318,549 | $1,041,706 | $1,279,896 | $1,374,112 | $1,414,388 |
| Portfolio turnover rateH | 29% | 33% | 22% | 25% | 18% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2030 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.13 | $13.93 | $14.88 | $14.06 | $12.94 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .07 | .15 | .19 | .11 | .15 |
| Net realized and unrealized gain (loss) | 4.64 | (1.00) | .19 | 1.50 | 1.56 |
| Total from investment operations | 4.71 | (.85) | .38 | 1.61 | 1.71 |
| Distributions from net investment income | (.10) | (.17) | (.21) | (.13) | (.15) |
| Distributions from net realized gain | (.86) | (.78) | (1.12) | (.66) | (.44) |
| Total distributions | (.96) | (.95) | (1.33) | (.79) | (.59) |
| Net asset value, end of period | $15.88 | $12.13 | $13.93 | $14.88 | $14.06 |
| Total ReturnB,C | 40.15% | (6.84)% | 3.12% | 11.53% | 13.74% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | 1.18% | 1.19% | 1.19%F | 1.09% | .50% |
| Expenses net of fee waivers, if any | 1.18% | 1.19% | 1.19%F | 1.09% | .50% |
| Expenses net of all reductions | 1.18% | 1.19% | 1.19%F | 1.09% | .50% |
| Net investment income (loss) | .50% | 1.10% | 1.32% | .74% | 1.09% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $502,610 | $391,371 | $453,917 | $452,750 | $442,505 |
| Portfolio turnover rateG | 29% | 33% | 22% | 25% | 18% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Total returns do not include the effect of the sales charges.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2030 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.95 | $13.75 | $14.71 | $13.92 | $12.83 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | –B | .08 | .12 | .03 | .08 |
| Net realized and unrealized gain (loss) | 4.55 | (.98) | .18 | 1.48 | 1.55 |
| Total from investment operations | 4.55 | (.90) | .30 | 1.51 | 1.63 |
| Distributions from net investment income | (.05) | (.12) | (.15) | (.07) | (.10) |
| Distributions from net realized gain | (.85) | (.78) | (1.11) | (.65) | (.44) |
| Total distributions | (.90) | (.90) | (1.26) | (.72) | (.54) |
| Net asset value, end of period | $15.60 | $11.95 | $13.75 | $14.71 | $13.92 |
| Total ReturnC,D | 39.41% | (7.25)% | 2.57% | 10.97% | 13.21% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | 1.68% | 1.69% | 1.69%G | 1.59% | 1.00% |
| Expenses net of fee waivers, if any | 1.68% | 1.69% | 1.69%G | 1.59% | 1.00% |
| Expenses net of all reductions | 1.68% | 1.69% | 1.69%G | 1.59% | 1.00% |
| Net investment income (loss) | –%H | .60% | .82% | .24% | .59% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $69,899 | $55,554 | $66,505 | $96,199 | $94,517 |
| Portfolio turnover rateI | 29% | 33% | 22% | 25% | 18% |
A Calculated based on average shares outstanding during the period.
B Amount represents less than $.005 per share.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the contingent deferred sales charge.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount represents less than .005%.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2030 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.29 | $14.09 | $15.04 | $14.21 | $13.06 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .15 | .23 | .26 | .18 | .21 |
| Net realized and unrealized gain (loss) | 4.69 | (1.01) | .19 | 1.51 | 1.59 |
| Total from investment operations | 4.84 | (.78) | .45 | 1.69 | 1.80 |
| Distributions from net investment income | (.15) | (.22) | (.27) | (.21) | (.21) |
| Distributions from net realized gain | (.88) | (.80) | (1.14) | (.66) | (.44) |
| Total distributions | (1.03) | (1.02) | (1.40)B | (.86)B | (.65) |
| Net asset value, end of period | $16.10 | $12.29 | $14.09 | $15.04 | $14.21 |
| Total ReturnC | 40.77% | (6.32)% | 3.65% | 12.04% | 14.38% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .68% | .69% | .69%F | .60% | - %G |
| Expenses net of fee waivers, if any | .68% | .69% | .69%F | .60% | -% |
| Expenses net of all reductions | .68% | .69% | .69%F | .60% | -% |
| Net investment income (loss) | 1.00% | 1.60% | 1.82% | 1.23% | 1.59% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $1,325,192 | $984,341 | $1,108,684 | $1,043,420 | $871,845 |
| Portfolio turnover rateH | 29% | 33% | 22% | 25% | 18% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
G Amount represents less than .005%.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2030 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $12.20 | $14.03 | $14.99 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .16 | .24 | .04 |
| Net realized and unrealized gain (loss) | 4.67 | (1.01) | (.15) |
| Total from investment operations | 4.83 | (.77) | (.11) |
| Distributions from net investment income | (.17) | (.25) | (.33) |
| Distributions from net realized gain | (.88) | (.82) | (.53) |
| Total distributions | (1.05) | (1.06)C | (.85)C |
| Net asset value, end of period | $15.98 | $12.20 | $14.03 |
| Total ReturnD,E | 41.01% | (6.28)% | (.09)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .59% | .60%H | .60%I |
| Expenses net of fee waivers, if any | .59% | .60%H | .60%I |
| Expenses net of all reductions | .59% | .60%H | .60%I |
| Net investment income (loss) | 1.09% | 1.69% | .65%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $63,499 | $38,041 | $2,948 |
| Portfolio turnover rateJ | 29% | 33% | 22% |
A For the period October 2, 2018 (commencement of sale of shares) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2030 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $12.24 | $14.05 | $15.03 | $14.53 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .18 | .26 | .29 | .16 |
| Net realized and unrealized gain (loss) | 4.68 | (1.01) | .19 | .99 |
| Total from investment operations | 4.86 | (.75) | .48 | 1.15 |
| Distributions from net investment income | (.19) | (.25) | (.30) | (.23) |
| Distributions from net realized gain | (.88) | (.81) | (1.15) | (.42) |
| Total distributions | (1.07) | (1.06) | (1.46)C | (.65) |
| Net asset value, end of period | $16.03 | $12.24 | $14.05 | $15.03 |
| Total ReturnD,E | 41.14% | (6.16)% | 3.84% | 7.90% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .46% | .47% | .47% | .49%H,I |
| Expenses net of fee waivers, if any | .46% | .47% | .47% | .49%H,I |
| Expenses net of all reductions | .46% | .47% | .47% | .49%H,I |
| Net investment income (loss) | 1.22% | 1.82% | 2.05% | 1.29%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $174,248 | $83,686 | $60,480 | $26,854 |
| Portfolio turnover rateJ | 29% | 33% | 22% | 25% |
A For the period June 6, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2035 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 13.2 |
| Fidelity Series Investment Grade Bond Fund | 10.2 |
| Fidelity Series Large Cap Stock Fund | 8.6 |
| Fidelity Series Overseas Fund | 6.0 |
| Fidelity Series International Growth Fund | 6.0 |
| Fidelity Series International Value Fund | 6.0 |
| Fidelity Series Value Discovery Fund | 5.6 |
| Fidelity Advisor Series Equity Growth Fund | 5.5 |
| Fidelity Series Stock Selector Large Cap Value Fund | 5.4 |
| Fidelity Series Opportunistic Insights Fund | 5.1 |
| | 71.6 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 45.7% |
| | International Equity Funds | 36.7% |
| | Bond Funds | 16.7% |
| | Short-Term Funds | 0.9% |
| | Short-Term Investments | 0.1% |
| | Net Other Assets (Liabilities)* | (0.1)% |
* Net Other Assets (Liabilities) are not included in the pie chart
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Advisor Freedom® 2035 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.1% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.02% to 0.08% 4/1/21 to 6/17/21 | | | |
| (Cost $1,069,990) | | 1,070,000 | 1,069,997 |
| | | Shares | Value |
|
| Domestic Equity Funds - 45.7% | | | |
| Fidelity Advisor Series Equity Growth Fund (a) | | 9,849,563 | $163,995,226 |
| Fidelity Advisor Series Growth Opportunities Fund (a) | | 6,760,201 | 114,044,587 |
| Fidelity Advisor Series Small Cap Fund (a) | | 4,862,400 | 74,200,216 |
| Fidelity Series All-Sector Equity Fund (a) | | 5,977,808 | 70,119,692 |
| Fidelity Series Commodity Strategy Fund (a) | | 16,716,706 | 81,911,858 |
| Fidelity Series Large Cap Stock Fund (a) | | 13,881,206 | 256,108,247 |
| Fidelity Series Large Cap Value Index Fund (a) | | 1,881,621 | 27,641,016 |
| Fidelity Series Opportunistic Insights Fund (a) | | 7,479,047 | 152,049,024 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 5,168,947 | 91,593,734 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 11,366,260 | 162,196,526 |
| Fidelity Series Value Discovery Fund (a) | | 10,429,524 | 166,038,017 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $947,815,538) | | | 1,359,898,143 |
|
| International Equity Funds - 36.7% | | | |
| Fidelity Series Canada Fund (a) | | 4,986,808 | 63,681,540 |
| Fidelity Series Emerging Markets Fund (a) | | 3,700,838 | 43,262,795 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 15,261,711 | 391,615,493 |
| Fidelity Series International Growth Fund (a) | | 9,963,307 | 178,741,719 |
| Fidelity Series International Small Cap Fund (a) | | 2,727,540 | 56,514,629 |
| Fidelity Series International Value Fund (a) | | 16,470,549 | 178,705,461 |
| Fidelity Series Overseas Fund (a) | | 14,198,213 | 179,039,468 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $769,323,324) | | | 1,091,561,105 |
|
| Bond Funds - 16.7% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 1,754,652 | 15,932,237 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 509,105 | 5,101,229 |
| Fidelity Series Floating Rate High Income Fund (a) | | 337,617 | 3,102,700 |
| Fidelity Series High Income Fund (a) | | 1,951,833 | 18,308,195 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 5,532,142 | 59,415,206 |
| Fidelity Series International Credit Fund (a) | | 140,882 | 1,406,003 |
| Fidelity Series Investment Grade Bond Fund (a) | | 26,220,787 | 302,325,677 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 10,217,247 | 80,716,253 |
| Fidelity Series Real Estate Income Fund (a) | | 1,023,472 | 11,309,368 |
| TOTAL BOND FUNDS | | | |
| (Cost $505,388,029) | | | 497,616,868 |
|
| Short-Term Funds - 0.9% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 2,227,147 | 2,227,592 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 19,621,289 | 19,621,289 |
| Fidelity Series Short-Term Credit Fund (a) | | 406,385 | 4,132,933 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $25,856,997) | | | 25,981,814 |
| TOTAL INVESTMENT IN SECURITIES - 100.1% | | | |
| (Cost $2,249,453,878) | | | 2,976,127,927 |
| NET OTHER ASSETS (LIABILITIES) - (0.1)% | | | (2,123,579) |
| NET ASSETS - 100% | | | $2,974,004,348 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $4,905 |
| Total | $4,905 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Advisor Series Equity Growth Fund | $114,522,055 | $51,298,551 | $44,566,203 | $32,648,608 | $11,073,427 | $31,667,396 | $163,995,226 |
| Fidelity Advisor Series Growth Opportunities Fund | 73,638,931 | 40,700,291 | 41,397,895 | 27,263,859 | 8,806,012 | 32,297,248 | 114,044,587 |
| Fidelity Advisor Series Small Cap Fund | 47,751,941 | 7,831,367 | 19,169,117 | 2,358,513 | 2,969,913 | 34,816,112 | 74,200,216 |
| Fidelity Series All-Sector Equity Fund | 49,590,654 | 12,588,187 | 15,870,445 | 7,854,093 | 316,438 | 23,494,858 | 70,119,692 |
| Fidelity Series Canada Fund | 37,024,368 | 12,598,566 | 8,330,882 | 1,213,928 | (178,455) | 22,567,943 | 63,681,540 |
| Fidelity Series Commodity Strategy Fund | 68,352,483 | 20,304,599 | 25,876,872 | 300,275 | (6,299,181) | 25,430,829 | 81,911,858 |
| Fidelity Series Emerging Markets Debt Fund | 12,981,935 | 2,777,923 | 1,451,012 | 721,893 | (19,001) | 1,642,392 | 15,932,237 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 5,317,011 | 155,039 | 74,159 | (497) | (60,246) | 5,101,229 |
| Fidelity Series Emerging Markets Fund | 22,484,870 | 10,473,641 | 6,816,891 | 576,568 | 425,435 | 16,695,740 | 43,262,795 |
| Fidelity Series Emerging Markets Opportunities Fund | 211,577,730 | 85,026,815 | 58,568,706 | 11,137,913 | 4,241,072 | 149,338,582 | 391,615,493 |
| Fidelity Series Floating Rate High Income Fund | 2,531,893 | 557,263 | 345,170 | 122,616 | (20,290) | 379,004 | 3,102,700 |
| Fidelity Series Government Money Market Fund 0.08% | 61,123,470 | 35,222,584 | 76,724,765 | 62,856 | -- | -- | 19,621,289 |
| Fidelity Series High Income Fund | 15,619,822 | 2,289,787 | 1,758,495 | 958,131 | (20,172) | 2,177,253 | 18,308,195 |
| Fidelity Series Inflation-Protected Bond Index Fund | 43,283,139 | 21,216,413 | 8,028,216 | 715,650 | 34,027 | 2,909,843 | 59,415,206 |
| Fidelity Series International Credit Fund | 1,255,935 | 96,563 | -- | 96,563 | -- | 53,505 | 1,406,003 |
| Fidelity Series International Growth Fund | 159,525,947 | 42,682,992 | 58,880,229 | 24,786,459 | 14,172,120 | 21,240,889 | 178,741,719 |
| Fidelity Series International Small Cap Fund | 37,872,465 | 2,707,312 | 4,489,877 | 447,546 | 472,551 | 19,952,178 | 56,514,629 |
| Fidelity Series International Value Fund | 141,256,185 | 17,807,381 | 49,113,098 | 4,837,742 | (2,073,026) | 70,828,019 | 178,705,461 |
| Fidelity Series Investment Grade Bond Fund | 170,446,727 | 171,448,208 | 35,094,157 | 13,887,085 | (394,109) | (4,080,992) | 302,325,677 |
| Fidelity Series Large Cap Stock Fund | 182,782,284 | 32,272,401 | 57,293,616 | 13,193,382 | 3,198,441 | 95,148,737 | 256,108,247 |
| Fidelity Series Large Cap Value Index Fund | 19,088,826 | 3,594,501 | 5,386,256 | 577,650 | 785,904 | 9,558,041 | 27,641,016 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 49,540,814 | 57,899,815 | 7,839,249 | 6,949,697 | 92,656 | (18,977,783) | 80,716,253 |
| Fidelity Series Opportunistic Insights Fund | 107,095,088 | 43,759,653 | 35,267,702 | 21,144,461 | 6,758,589 | 29,703,396 | 152,049,024 |
| Fidelity Series Overseas Fund | 131,293,945 | 17,738,162 | 29,259,702 | 1,945,955 | (347,432) | 59,614,495 | 179,039,468 |
| Fidelity Series Real Estate Income Fund | 8,460,420 | 1,692,323 | 1,510,300 | 622,684 | (88,477) | 2,755,402 | 11,309,368 |
| Fidelity Series Short-Term Credit Fund | 3,966,069 | 2,253,681 | 2,195,396 | 96,989 | (7,864) | 116,443 | 4,132,933 |
| Fidelity Series Small Cap Opportunities Fund | 60,434,430 | 9,709,467 | 22,673,494 | 1,856,286 | 3,441,682 | 40,681,649 | 91,593,734 |
| Fidelity Series Stock Selector Large Cap Value Fund | 112,755,143 | 18,124,508 | 35,317,289 | 3,494,228 | 513,173 | 66,120,991 | 162,196,526 |
| Fidelity Series Value Discovery Fund | 116,977,516 | 15,863,613 | 36,086,247 | 3,481,514 | 2,394,864 | 66,888,271 | 166,038,017 |
| | $2,063,235,085 | $745,853,578 | $689,466,320 | $183,427,303 | $50,247,800 | $802,960,195 | $2,972,830,338 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments and Net Other Assets | $1,069,997 | $-- | $1,069,997 | $-- |
| Domestic Equity Funds | 1,359,898,143 | 1,359,898,143 | -- | -- |
| International Equity Funds | 1,091,561,105 | 1,091,561,105 | -- | -- |
| Bond Funds | 497,616,868 | 497,616,868 | -- | -- |
| Short-Term Funds | 25,981,814 | 25,981,814 | -- | -- |
| Total Investments in Securities: | $2,976,127,927 | $2,975,057,930 | $1,069,997 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2035 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,069,990) | $1,069,997 | |
| Fidelity Central Funds (cost $2,227,546) | 2,227,592 | |
| Other affiliated issuers (cost $2,246,156,342) | 2,972,830,338 | |
| Total Investment in Securities (cost $2,249,453,878) | | $2,976,127,927 |
| Cash | | 26,527 |
| Receivable for investments sold | | 37,507,671 |
| Receivable for fund shares sold | | 2,789,190 |
| Distributions receivable from Fidelity Central Funds | | 118 |
| Receivable for daily variation margin on futures contracts | | 47,120 |
| Total assets | | 3,016,498,553 |
| Liabilities | | |
| Payable for investments purchased | $37,543,094 | |
| Payable for fund shares redeemed | 2,754,003 | |
| Accrued management fee | 1,742,650 | |
| Distribution and service plan fees payable | 454,458 | |
| Total liabilities | | 42,494,205 |
| Net Assets | | $2,974,004,348 |
| Net Assets consist of: | | |
| Paid in capital | | $2,125,294,142 |
| Total accumulated earnings (loss) | | 848,710,206 |
| Net Assets | | $2,974,004,348 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($1,122,730,361 ÷ 70,102,923 shares)(a) | | $16.02 |
| Maximum offering price per share (100/94.25 of $16.02) | | $17.00 |
| Class M: | | |
| Net Asset Value and redemption price per share ($425,013,176 ÷ 26,897,063 shares)(a) | | $15.80 |
| Maximum offering price per share (100/96.50 of $15.80) | | $16.37 |
| Class C: | | |
| Net Asset Value and offering price per share ($53,191,762 ÷ 3,450,573 shares)(a) | | $15.42 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($1,169,460,945 ÷ 72,319,592 shares) | | $16.17 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($53,381,034 ÷ 3,327,981 shares) | | $16.04 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($150,227,070 ÷ 9,307,181 shares) | | $16.14 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $43,377,968 |
| Interest | | 5,205 |
| Income from Fidelity Central Funds | | 4,905 |
| Total income | | 43,388,078 |
| Expenses | | |
| Management fee | $18,516,061 | |
| Distribution and service plan fees | 4,938,262 | |
| Independent trustees' fees and expenses | 7,395 | |
| Total expenses before reductions | 23,461,718 | |
| Expense reductions | (133) | |
| Total expenses after reductions | | 23,461,585 |
| Net investment income (loss) | | 19,926,493 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | 123 | |
| Fidelity Central Funds | (543) | |
| Other affiliated issuers | 50,249,895 | |
| Futures contracts | (2,422,375) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 140,049,335 | |
| Total net realized gain (loss) | | 187,876,435 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (2,552) | |
| Fidelity Central Funds | (270) | |
| Other affiliated issuers | 802,960,195 | |
| Total change in net unrealized appreciation (depreciation) | | 802,957,373 |
| Net gain (loss) | | 990,833,808 |
| Net increase (decrease) in net assets resulting from operations | | $1,010,760,301 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $19,926,493 | $31,975,045 |
| Net realized gain (loss) | 187,876,435 | 132,014,511 |
| Change in net unrealized appreciation (depreciation) | 802,957,373 | (370,503,771) |
| Net increase (decrease) in net assets resulting from operations | 1,010,760,301 | (206,514,215) |
| Distributions to shareholders | (169,240,316) | (182,189,273) |
| Share transactions - net increase (decrease) | 59,160,333 | 69,691,167 |
| Total increase (decrease) in net assets | 900,680,318 | (319,012,321) |
| Net Assets | | |
| Beginning of period | 2,073,324,030 | 2,392,336,351 |
| End of period | $2,974,004,348 | $2,073,324,030 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Advisor Freedom 2035 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.46 | $13.58 | $14.65 | $13.61 | $12.37 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .10 | .17 | .20 | .12 | .16 |
| Net realized and unrealized gain (loss) | 5.39 | (1.28) | .16 | 1.67 | 1.68 |
| Total from investment operations | 5.49 | (1.11) | .36 | 1.79 | 1.84 |
| Distributions from net investment income | (.12) | (.17) | (.22) | (.14) | (.16) |
| Distributions from net realized gain | (.81) | (.85) | (1.22) | (.61) | (.44) |
| Total distributions | (.93) | (1.01)B | (1.43)B | (.75) | (.60) |
| Net asset value, end of period | $16.02 | $11.46 | $13.58 | $14.65 | $13.61 |
| Total ReturnC,D | 49.73% | (9.15)% | 3.19% | 13.26% | 15.51% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .97% | .98% | .99% | .87% | .25% |
| Expenses net of fee waivers, if any | .97% | .98% | .99% | .87% | .25% |
| Expenses net of all reductions | .97% | .98% | .99% | .87% | .25% |
| Net investment income (loss) | .69% | 1.23% | 1.40% | .80% | 1.22% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $1,122,730 | $824,792 | $1,026,416 | $1,082,982 | $1,117,175 |
| Portfolio turnover rateG | 27% | 33% | 23% | 23% | 18% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2035 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.33 | $13.44 | $14.53 | $13.51 | $12.29 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .06 | .13 | .16 | .08 | .12 |
| Net realized and unrealized gain (loss) | 5.31 | (1.26) | .16 | 1.66 | 1.68 |
| Total from investment operations | 5.37 | (1.13) | .32 | 1.74 | 1.80 |
| Distributions from net investment income | (.09) | (.14) | (.19) | (.12) | (.14) |
| Distributions from net realized gain | (.81) | (.84) | (1.22) | (.60) | (.44) |
| Total distributions | (.90) | (.98) | (1.41) | (.72) | (.58) |
| Net asset value, end of period | $15.80 | $11.33 | $13.44 | $14.53 | $13.51 |
| Total ReturnB,C | 49.26% | (9.36)% | 2.89% | 12.98% | 15.24% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | 1.22% | 1.23% | 1.24% | 1.13% | .50% |
| Expenses net of fee waivers, if any | 1.22% | 1.23% | 1.24% | 1.13% | .50% |
| Expenses net of all reductions | 1.22% | 1.23% | 1.24% | 1.13% | .50% |
| Net investment income (loss) | .44% | .98% | 1.15% | .55% | .97% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $425,013 | $310,544 | $366,074 | $364,455 | $336,939 |
| Portfolio turnover rateF | 27% | 33% | 23% | 23% | 18% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Total returns do not include the effect of the sales charges.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2035 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.09 | $13.20 | $14.29 | $13.32 | $12.14 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | (.01) | .06 | .09 | .01 | .06 |
| Net realized and unrealized gain (loss) | 5.20 | (1.23) | .17 | 1.62 | 1.65 |
| Total from investment operations | 5.19 | (1.17) | .26 | 1.63 | 1.71 |
| Distributions from net investment income | (.05) | (.10) | (.13) | (.07) | (.09) |
| Distributions from net realized gain | (.81) | (.84) | (1.22) | (.60) | (.44) |
| Total distributions | (.86) | (.94) | (1.35) | (.66)B | (.53) |
| Net asset value, end of period | $15.42 | $11.09 | $13.20 | $14.29 | $13.32 |
| Total ReturnC,D | 48.61% | (9.84)% | 2.39% | 12.40% | 14.69% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | 1.72% | 1.73% | 1.73%G | 1.63% | 1.00% |
| Expenses net of fee waivers, if any | 1.72% | 1.73% | 1.73%G | 1.63% | 1.00% |
| Expenses net of all reductions | 1.72% | 1.73% | 1.73%G | 1.63% | 1.00% |
| Net investment income (loss) | (.06)% | .48% | .65% | .05% | .47% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $53,192 | $37,642 | $44,302 | $65,519 | $61,581 |
| Portfolio turnover rateH | 27% | 33% | 23% | 23% | 18% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the contingent deferred sales charge.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2035 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.56 | $13.69 | $14.75 | $13.71 | $12.45 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .13 | .20 | .23 | .15 | .19 |
| Net realized and unrealized gain (loss) | 5.44 | (1.28) | .17 | 1.68 | 1.70 |
| Total from investment operations | 5.57 | (1.08) | .40 | 1.83 | 1.89 |
| Distributions from net investment income | (.14) | (.20) | (.25) | (.17) | (.19) |
| Distributions from net realized gain | (.81) | (.85) | (1.22) | (.62) | (.44) |
| Total distributions | (.96)B | (1.05) | (1.46)B | (.79) | (.63) |
| Net asset value, end of period | $16.17 | $11.56 | $13.69 | $14.75 | $13.71 |
| Total ReturnC | 49.99% | (8.91)% | 3.47% | 13.50% | 15.79% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .72% | .73% | .74% | .64% | - %F |
| Expenses net of fee waivers, if any | .72% | .73% | .74% | .64% | -% |
| Expenses net of all reductions | .72% | .73% | .74% | .64% | -% |
| Net investment income (loss) | .94% | 1.48% | 1.65% | 1.04% | 1.47% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $1,169,461 | $808,586 | $907,369 | $867,707 | $689,261 |
| Portfolio turnover rateG | 27% | 33% | 23% | 23% | 18% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount represents less than .005%.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2035 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $11.47 | $13.63 | $14.78 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .21 | .07 |
| Net realized and unrealized gain (loss) | 5.39 | (1.27) | (.32) |
| Total from investment operations | 5.54 | (1.06) | (.25) |
| Distributions from net investment income | (.16) | (.22) | (.31) |
| Distributions from net realized gain | (.81) | (.88) | (.59) |
| Total distributions | (.97) | (1.10) | (.90) |
| Net asset value, end of period | $16.04 | $11.47 | $13.63 |
| Total ReturnC,D | 50.19% | (8.87)% | (.96)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .62% | .63% | .63%G,H |
| Expenses net of fee waivers, if any | .62% | .63% | .63%G,H |
| Expenses net of all reductions | .62% | .63% | .63%G,H |
| Net investment income (loss) | 1.04% | 1.58% | 1.01%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $53,381 | $27,968 | $2,821 |
| Portfolio turnover rateI | 27% | 33% | 23% |
A For the period October 2, 2018 (commencement of sale of shares) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2035 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $11.53 | $13.67 | $14.75 | $14.07 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .17 | .23 | .26 | .12 |
| Net realized and unrealized gain (loss) | 5.43 | (1.28) | .16 | 1.15 |
| Total from investment operations | 5.60 | (1.05) | .42 | 1.27 |
| Distributions from net investment income | (.17) | (.23) | (.29) | (.22) |
| Distributions from net realized gain | (.81) | (.86) | (1.22) | (.38) |
| Total distributions | (.99)C | (1.09) | (1.50)C | (.59)C |
| Net asset value, end of period | $16.14 | $11.53 | $13.67 | $14.75 |
| Total ReturnD,E | 50.43% | (8.74)% | 3.65% | 9.03% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .48% | .49% | .49% | .51%H,I |
| Expenses net of fee waivers, if any | .48% | .49% | .49% | .51%H,I |
| Expenses net of all reductions | .48% | .49% | .49% | .51%H,I |
| Net investment income (loss) | 1.18% | 1.73% | 1.90% | .97%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $150,227 | $63,792 | $45,355 | $15,784 |
| Portfolio turnover rateJ | 27% | 33% | 23% | 23% |
A For the period June 6, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2040 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Large Cap Stock Fund | 9.8 |
| Fidelity Series Overseas Fund | 6.8 |
| Fidelity Series International Growth Fund | 6.8 |
| Fidelity Series International Value Fund | 6.8 |
| Fidelity Series Value Discovery Fund | 6.4 |
| Fidelity Advisor Series Equity Growth Fund | 6.3 |
| Fidelity Series Stock Selector Large Cap Value Fund | 6.2 |
| Fidelity Series Opportunistic Insights Fund | 5.8 |
| Fidelity Advisor Series Growth Opportunities Fund | 4.4 |
| | 73.6 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.9% |
| | Net Other Assets (Liabilities)* | (0.1)% |
* Net Other Assets (Liabilities) are not included in the pie chart
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Advisor Freedom® 2040 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.02% to 0.08% 4/1/21 to 6/17/21 | | | |
| (Cost $1,039,988) | | 1,040,000 | 1,039,992 |
| | | Shares | Value |
|
| Domestic Equity Funds - 51.8% | | | |
| Fidelity Advisor Series Equity Growth Fund (a) | | 10,172,899 | $169,378,765 |
| Fidelity Advisor Series Growth Opportunities Fund (a) | | 6,981,992 | 117,786,198 |
| Fidelity Advisor Series Small Cap Fund (a) | | 5,022,042 | 76,636,365 |
| Fidelity Series All-Sector Equity Fund (a) | | 6,174,089 | 72,422,063 |
| Fidelity Series Commodity Strategy Fund (a) | | 15,149,872 | 74,234,374 |
| Fidelity Series Large Cap Stock Fund (a) | | 14,337,593 | 264,528,590 |
| Fidelity Series Large Cap Value Index Fund (a) | | 1,943,503 | 28,550,060 |
| Fidelity Series Opportunistic Insights Fund (a) | | 7,724,632 | 157,041,766 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 5,338,115 | 94,591,406 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 11,740,148 | 167,531,918 |
| Fidelity Series Value Discovery Fund (a) | | 10,772,519 | 171,498,496 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $983,661,697) | | | 1,394,200,001 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 5,095,737 | 65,072,557 |
| Fidelity Series Emerging Markets Fund (a) | | 3,640,319 | 42,555,333 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 14,980,261 | 384,393,494 |
| Fidelity Series International Growth Fund (a) | | 10,164,267 | 182,346,956 |
| Fidelity Series International Small Cap Fund (a) | | 2,761,609 | 57,220,529 |
| Fidelity Series International Value Fund (a) | | 16,798,643 | 182,265,277 |
| Fidelity Series Overseas Fund (a) | | 14,484,478 | 182,649,273 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $779,630,747) | | | 1,096,503,419 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 1,595,350 | 14,485,779 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 467,960 | 4,688,955 |
| Fidelity Series Floating Rate High Income Fund (a) | | 303,761 | 2,791,561 |
| Fidelity Series High Income Fund (a) | | 1,771,230 | 16,614,138 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 4,963,387 | 53,306,779 |
| Fidelity Series International Credit Fund(a) | | 128,308 | 1,280,514 |
| Fidelity Series Investment Grade Bond Fund (a) | | 103,620 | 1,194,742 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 9,260,578 | 73,158,566 |
| Fidelity Series Real Estate Income Fund (a) | | 925,723 | 10,229,243 |
| TOTAL BOND FUNDS | | | |
| (Cost $184,548,563) | | | 177,750,277 |
|
| Short-Term Funds - 0.9% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 1,121,532 | 1,121,756 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 17,747,351 | 17,747,351 |
| Fidelity Series Short-Term Credit Fund (a) | | 367,575 | 3,738,236 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $22,523,269) | | | 22,607,343 |
| TOTAL INVESTMENT IN SECURITIES - 100.1% | | | |
| (Cost $1,971,404,264) | | | 2,692,101,032 |
| NET OTHER ASSETS (LIABILITIES) - (0.1)% | | | (1,987,903) |
| NET ASSETS - 100% | | | $2,690,113,129 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $5,270 |
| Total | $5,270 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Advisor Series Equity Growth Fund | $111,787,301 | $55,050,695 | $39,219,959 | $32,848,051 | $9,429,268 | $32,331,460 | $169,378,765 |
| Fidelity Advisor Series Growth Opportunities Fund | 72,165,135 | 43,623,896 | 38,051,903 | 27,652,210 | 7,512,761 | 32,536,309 | 117,786,198 |
| Fidelity Advisor Series Small Cap Fund | 47,411,627 | 8,616,771 | 17,490,281 | 2,406,050 | 2,504,958 | 35,593,290 | 76,636,365 |
| Fidelity Series All-Sector Equity Fund | 49,019,389 | 12,370,527 | 12,696,232 | 7,959,900 | 272,851 | 23,455,528 | 72,422,063 |
| Fidelity Series Canada Fund | 36,517,491 | 12,532,118 | 6,330,729 | 1,219,428 | (167,309) | 22,520,986 | 65,072,557 |
| Fidelity Series Commodity Strategy Fund | 61,144,816 | 18,583,639 | 22,544,491 | 269,171 | (4,994,063) | 22,044,473 | 74,234,374 |
| Fidelity Series Emerging Markets Debt Fund | 11,524,764 | 3,080,773 | 1,546,727 | 639,772 | (45,674) | 1,472,643 | 14,485,779 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 4,922,385 | 167,962 | 66,548 | (51) | (65,417) | 4,688,955 |
| Fidelity Series Emerging Markets Fund | 21,546,915 | 10,364,660 | 5,712,946 | 559,271 | 309,905 | 16,046,799 | 42,555,333 |
| Fidelity Series Emerging Markets Opportunities Fund | 201,828,268 | 82,472,945 | 47,041,618 | 10,805,948 | 3,505,476 | 143,628,423 | 384,393,494 |
| Fidelity Series Floating Rate High Income Fund | 2,276,439 | 564,628 | 370,345 | 109,493 | (25,054) | 345,893 | 2,791,561 |
| Fidelity Series Government Money Market Fund 0.08% | 54,976,567 | 32,962,155 | 70,191,371 | 57,320 | -- | -- | 17,747,351 |
| Fidelity Series High Income Fund | 14,099,100 | 2,447,001 | 1,873,522 | 859,417 | (14,276) | 1,955,835 | 16,614,138 |
| Fidelity Series Inflation-Protected Bond Index Fund | 39,223,353 | 19,672,625 | 8,212,587 | 643,102 | 29,277 | 2,594,111 | 53,306,779 |
| Fidelity Series International Credit Fund | 1,143,840 | 87,945 | -- | 87,945 | -- | 48,729 | 1,280,514 |
| Fidelity Series International Growth Fund | 153,159,489 | 46,847,759 | 52,172,605 | 24,898,626 | 12,016,905 | 22,495,408 | 182,346,956 |
| Fidelity Series International Small Cap Fund | 36,561,752 | 5,363,424 | 4,789,369 | 444,873 | 352,582 | 19,732,140 | 57,220,529 |
| Fidelity Series International Value Fund | 136,792,247 | 17,362,307 | 40,053,276 | 4,939,169 | (1,453,535) | 69,617,534 | 182,265,277 |
| Fidelity Series Investment Grade Bond Fund | -- | 1,273,548 | 43,716 | 8,733 | (175) | (34,915) | 1,194,742 |
| Fidelity Series Large Cap Stock Fund | 181,421,377 | 39,375,834 | 55,041,044 | 13,150,978 | 2,033,721 | 96,738,702 | 264,528,590 |
| Fidelity Series Large Cap Value Index Fund | 18,950,160 | 3,961,663 | 4,774,111 | 580,349 | 494,339 | 9,918,009 | 28,550,060 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 44,773,408 | 54,203,243 | 8,818,927 | 6,235,953 | 307,365 | (17,306,523) | 73,158,566 |
| Fidelity Series Opportunistic Insights Fund | 105,708,070 | 49,247,711 | 33,859,025 | 21,359,088 | 5,424,683 | 30,520,327 | 157,041,766 |
| Fidelity Series Overseas Fund | 128,171,335 | 22,169,510 | 26,329,748 | 1,929,203 | (178,229) | 58,816,405 | 182,649,273 |
| Fidelity Series Real Estate Income Fund | 7,628,885 | 1,693,220 | 1,493,309 | 556,155 | (67,434) | 2,467,881 | 10,229,243 |
| Fidelity Series Short-Term Credit Fund | 3,614,913 | 1,999,307 | 1,976,202 | 89,133 | (6,371) | 106,589 | 3,738,236 |
| Fidelity Series Small Cap Opportunities Fund | 59,995,194 | 11,097,694 | 20,990,776 | 1,883,576 | 2,401,479 | 42,087,815 | 94,591,406 |
| Fidelity Series Stock Selector Large Cap Value Fund | 111,931,839 | 20,924,577 | 32,452,390 | 3,571,365 | 345,389 | 66,782,503 | 167,531,918 |
| Fidelity Series Value Discovery Fund | 115,753,339 | 18,343,818 | 32,096,371 | 3,557,860 | 1,940,044 | 67,557,666 | 171,498,496 |
| | $1,829,127,013 | $601,216,378 | $586,341,542 | $169,388,687 | $41,928,832 | $804,008,603 | $2,689,939,284 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments and Net Other Assets | $1,039,992 | $-- | $1,039,992 | $-- |
| Domestic Equity Funds | 1,394,200,001 | 1,394,200,001 | -- | -- |
| International Equity Funds | 1,096,503,419 | 1,096,503,419 | -- | -- |
| Bond Funds | 177,750,277 | 177,750,277 | -- | -- |
| Short-Term Funds | 22,607,343 | 22,607,343 | -- | -- |
| Total Investments in Securities: | $2,692,101,032 | $2,691,061,040 | $1,039,992 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2040 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,039,988) | $1,039,992 | |
| Fidelity Central Funds (cost $1,121,749) | 1,121,756 | |
| Other affiliated issuers (cost $1,969,242,527) | 2,689,939,284 | |
| Total Investment in Securities (cost $1,971,404,264) | | $2,692,101,032 |
| Cash | | 30,199 |
| Receivable for investments sold | | 32,798,344 |
| Receivable for fund shares sold | | 2,523,767 |
| Distributions receivable from Fidelity Central Funds | | 66 |
| Receivable for daily variation margin on futures contracts | | 36,343 |
| Total assets | | 2,727,489,751 |
| Liabilities | | |
| Payable for investments purchased | $31,350,292 | |
| Payable for fund shares redeemed | 3,971,772 | |
| Accrued management fee | 1,631,385 | |
| Distribution and service plan fees payable | 423,173 | |
| Total liabilities | | 37,376,622 |
| Net Assets | | $2,690,113,129 |
| Net Assets consist of: | | |
| Paid in capital | | $1,853,108,608 |
| Total accumulated earnings (loss) | | 837,004,521 |
| Net Assets | | $2,690,113,129 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($1,000,757,253 ÷ 57,060,743 shares)(a) | | $17.54 |
| Maximum offering price per share (100/94.25 of $17.54) | | $18.61 |
| Class M: | | |
| Net Asset Value and redemption price per share ($402,667,081 ÷ 23,145,251 shares)(a) | | $17.40 |
| Maximum offering price per share (100/96.50 of $17.40) | | $18.03 |
| Class C: | | |
| Net Asset Value and offering price per share ($56,710,267 ÷ 3,352,686 shares)(a) | | $16.91 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($1,045,866,400 ÷ 59,124,704 shares) | | $17.69 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($43,821,503 ÷ 2,498,011 shares) | | $17.54 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($140,290,625 ÷ 7,951,791 shares) | | $17.64 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $37,720,876 |
| Interest | | 4,629 |
| Income from Fidelity Central Funds | | 5,270 |
| Total income | | 37,730,775 |
| Expenses | | |
| Management fee | $17,210,058 | |
| Distribution and service plan fees | 4,567,014 | |
| Independent trustees' fees and expenses | 6,620 | |
| Total expenses before reductions | 21,783,692 | |
| Expense reductions | (135) | |
| Total expenses after reductions | | 21,783,557 |
| Net investment income (loss) | | 15,947,218 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (222) | |
| Fidelity Central Funds | (561) | |
| Other affiliated issuers | 42,095,932 | |
| Futures contracts | (1,703,658) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 131,667,811 | |
| Total net realized gain (loss) | | 172,059,302 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (2,237) | |
| Fidelity Central Funds | (244) | |
| Other affiliated issuers | 804,008,603 | |
| Futures contracts | (189,510) | |
| Total change in net unrealized appreciation (depreciation) | | 803,816,612 |
| Net gain (loss) | | 975,875,914 |
| Net increase (decrease) in net assets resulting from operations | | $991,823,132 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $15,947,218 | $27,110,497 |
| Net realized gain (loss) | 172,059,302 | 113,009,419 |
| Change in net unrealized appreciation (depreciation) | 803,816,612 | (355,921,145) |
| Net increase (decrease) in net assets resulting from operations | 991,823,132 | (215,801,229) |
| Distributions to shareholders | (147,549,653) | (160,006,087) |
| Share transactions - net increase (decrease) | 6,639,596 | 41,090,450 |
| Total increase (decrease) in net assets | 850,913,075 | (334,716,866) |
| Net Assets | | |
| Beginning of period | 1,839,200,054 | 2,173,916,920 |
| End of period | $2,690,113,129 | $1,839,200,054 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Advisor Freedom 2040 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.08 | $14.52 | $15.69 | $14.57 | $13.25 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .09 | .17 | .21 | .12 | .17 |
| Net realized and unrealized gain (loss) | 6.34 | (1.55) | .15 | 1.81 | 1.80 |
| Total from investment operations | 6.43 | (1.38) | .36 | 1.93 | 1.97 |
| Distributions from net investment income | (.11) | (.17) | (.23) | (.15) | (.17) |
| Distributions from net realized gain | (.85) | (.88) | (1.31) | (.66) | (.48) |
| Total distributions | (.97)B | (1.06)B | (1.53)B | (.81) | (.65) |
| Net asset value, end of period | $17.54 | $12.08 | $14.52 | $15.69 | $14.57 |
| Total ReturnC,D | 55.32% | (10.59)% | 3.04% | 13.42% | 15.53% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | 1.00% | 1.00% | .99%G | .87% | .25% |
| Expenses net of fee waivers, if any | 1.00% | 1.00% | .99%G | .87% | .25% |
| Expenses net of all reductions | 1.00% | 1.00% | .99%G | .87% | .25% |
| Net investment income (loss) | .61% | 1.17% | 1.37% | .78% | 1.22% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $1,000,757 | $729,343 | $916,426 | $948,970 | $965,401 |
| Portfolio turnover rateH | 25% | 31% | 21% | 23% | 18% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2040 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.00 | $14.44 | $15.62 | $14.52 | $13.21 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .05 | .13 | .17 | .08 | .13 |
| Net realized and unrealized gain (loss) | 6.29 | (1.55) | .16 | 1.80 | 1.81 |
| Total from investment operations | 6.34 | (1.42) | .33 | 1.88 | 1.94 |
| Distributions from net investment income | (.09) | (.15) | (.20) | (.12) | (.15) |
| Distributions from net realized gain | (.85) | (.88) | (1.31) | (.66) | (.48) |
| Total distributions | (.94) | (1.02)B | (1.51) | (.78) | (.63) |
| Net asset value, end of period | $17.40 | $12.00 | $14.44 | $15.62 | $14.52 |
| Total ReturnC,D | 54.96% | (10.84)% | 2.82% | 13.11% | 15.26% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | 1.25% | 1.25% | 1.25% | 1.13% | .50% |
| Expenses net of fee waivers, if any | 1.25% | 1.25% | 1.25% | 1.13% | .50% |
| Expenses net of all reductions | 1.25% | 1.25% | 1.25% | 1.13% | .50% |
| Net investment income (loss) | .36% | .92% | 1.12% | .53% | .97% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $402,667 | $286,126 | $356,107 | $343,164 | $324,990 |
| Portfolio turnover rateG | 25% | 31% | 21% | 23% | 18% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2040 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.71 | $14.14 | $15.32 | $14.28 | $13.02 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | (.02) | .06 | .09 | –B | .06 |
| Net realized and unrealized gain (loss) | 6.11 | (1.52) | .18 | 1.77 | 1.78 |
| Total from investment operations | 6.09 | (1.46) | .27 | 1.77 | 1.84 |
| Distributions from net investment income | (.04) | (.09) | (.14) | (.07) | (.10) |
| Distributions from net realized gain | (.85) | (.88) | (1.31) | (.66) | (.48) |
| Total distributions | (.89) | (.97) | (1.45) | (.73) | (.58) |
| Net asset value, end of period | $16.91 | $11.71 | $14.14 | $15.32 | $14.28 |
| Total ReturnC,D | 54.12% | (11.31)% | 2.37% | 12.52% | 14.70% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | 1.75% | 1.75% | 1.74%G | 1.63% | 1.00% |
| Expenses net of fee waivers, if any | 1.75% | 1.75% | 1.74%G | 1.63% | 1.00% |
| Expenses net of all reductions | 1.75% | 1.75% | 1.74%G | 1.63% | 1.00% |
| Net investment income (loss) | (.14)% | .42% | .62% | .03% | .48% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $56,710 | $41,153 | $53,715 | $84,365 | $79,480 |
| Portfolio turnover rateH | 25% | 31% | 21% | 23% | 18% |
A Calculated based on average shares outstanding during the period.
B Amount represents less than $.005 per share.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the contingent deferred sales charge.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2040 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.17 | $14.62 | $15.78 | $14.65 | $13.32 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .13 | .21 | .24 | .16 | .20 |
| Net realized and unrealized gain (loss) | 6.39 | (1.57) | .16 | 1.83 | 1.82 |
| Total from investment operations | 6.52 | (1.36) | .40 | 1.99 | 2.02 |
| Distributions from net investment income | (.14) | (.20) | (.26) | (.19) | (.20) |
| Distributions from net realized gain | (.85) | (.89) | (1.31) | (.67) | (.49) |
| Total distributions | (1.00)B | (1.09) | (1.56)B | (.86) | (.69) |
| Net asset value, end of period | $17.69 | $12.17 | $14.62 | $15.78 | $14.65 |
| Total ReturnC | 55.69% | (10.35)% | 3.31% | 13.74% | 15.82% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .75% | .75% | .75% | .63% | - %F |
| Expenses net of fee waivers, if any | .75% | .75% | .75% | .63% | -% |
| Expenses net of all reductions | .75% | .75% | .75% | .63% | -% |
| Net investment income (loss) | .86% | 1.42% | 1.62% | 1.02% | 1.47% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $1,045,866 | $705,362 | $805,102 | $790,667 | $649,934 |
| Portfolio turnover rateG | 25% | 31% | 21% | 23% | 18% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount represents less than .005%.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2040 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $12.08 | $14.56 | $15.85 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .22 | .36 |
| Net realized and unrealized gain (loss) | 6.33 | (1.55) | (.69) |
| Total from investment operations | 6.48 | (1.33) | (.33) |
| Distributions from net investment income | (.17) | (.23) | (.33) |
| Distributions from net realized gain | (.85) | (.91) | (.63) |
| Total distributions | (1.02) | (1.15)C | (.96) |
| Net asset value, end of period | $17.54 | $12.08 | $14.56 |
| Total ReturnD,E | 55.80% | (10.31)% | (1.30)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .64% | .65%H | .65%H,I |
| Expenses net of fee waivers, if any | .64% | .65%H | .65%H,I |
| Expenses net of all reductions | .64% | .65%H | .65%H,I |
| Net investment income (loss) | .97% | 1.52% | 5.06% |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $43,822 | $20,000 | $1,501 |
| Portfolio turnover rateJ | 25% | 31% | 21% |
A For the period October 2, 2018 (commencement of sale of shares) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2040 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $12.13 | $14.60 | $15.76 | $15.04 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .17 | .24 | .28 | .18 |
| Net realized and unrealized gain (loss) | 6.38 | (1.57) | .17 | 1.20 |
| Total from investment operations | 6.55 | (1.33) | .45 | 1.38 |
| Distributions from net investment income | (.18) | (.24) | (.30) | (.23) |
| Distributions from net realized gain | (.85) | (.90) | (1.31) | (.42) |
| Total distributions | (1.04)C | (1.14) | (1.61) | (.66)C |
| Net asset value, end of period | $17.64 | $12.13 | $14.60 | $15.76 |
| Total ReturnD,E | 56.14% | (10.24)% | 3.64% | 9.12% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .49% | .49% | .49% | .51%H,I |
| Expenses net of fee waivers, if any | .49% | .49% | .49% | .51%H,I |
| Expenses net of all reductions | .49% | .49% | .49% | .51%H,I |
| Net investment income (loss) | 1.12% | 1.67% | 1.87% | 1.39%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $140,291 | $57,216 | $41,066 | $11,861 |
| Portfolio turnover rateJ | 25% | 31% | 21% | 23% |
A For the period June 6, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2045 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Large Cap Stock Fund | 9.8 |
| Fidelity Series Overseas Fund | 6.8 |
| Fidelity Series International Growth Fund | 6.8 |
| Fidelity Series International Value Fund | 6.8 |
| Fidelity Series Value Discovery Fund | 6.4 |
| Fidelity Advisor Series Equity Growth Fund | 6.3 |
| Fidelity Series Stock Selector Large Cap Value Fund | 6.2 |
| Fidelity Series Opportunistic Insights Fund | 5.8 |
| Fidelity Advisor Series Growth Opportunities Fund | 4.4 |
| | 73.6 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.9% |
| | Net Other Assets (Liabilities)* | (0.1)% |
* Net Other Assets (Liabilities) are not included in the pie chart
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Advisor Freedom® 2045 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.02% to 0.08% 4/1/21 to 6/17/21 | | | |
| (Cost $719,992) | | 720,000 | 719,995 |
| | | Shares | Value |
|
| Domestic Equity Funds - 51.8% | | | |
| Fidelity Advisor Series Equity Growth Fund (a) | | 7,040,457 | $117,223,615 |
| Fidelity Advisor Series Growth Opportunities Fund (a) | | 4,832,077 | 81,517,143 |
| Fidelity Advisor Series Small Cap Fund (a) | | 3,475,655 | 53,038,502 |
| Fidelity Series All-Sector Equity Fund (a) | | 4,272,989 | 50,122,156 |
| Fidelity Series Commodity Strategy Fund (a) | | 10,488,137 | 51,391,872 |
| Fidelity Series Large Cap Stock Fund (a) | | 9,922,859 | 183,076,757 |
| Fidelity Series Large Cap Value Index Fund (a) | | 1,345,078 | 19,759,191 |
| Fidelity Series Opportunistic Insights Fund (a) | | 5,346,070 | 108,685,609 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 3,694,401 | 65,464,791 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 8,125,224 | 115,946,948 |
| Fidelity Series Value Discovery Fund (a) | | 7,455,533 | 118,692,084 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $700,943,942) | | | 964,918,668 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 3,526,687 | 45,035,790 |
| Fidelity Series Emerging Markets Fund (a) | | 2,520,097 | 29,459,935 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 10,368,045 | 266,044,022 |
| Fidelity Series International Growth Fund (a) | | 7,034,470 | 126,198,384 |
| Fidelity Series International Small Cap Fund (a) | | 1,911,606 | 39,608,469 |
| Fidelity Series International Value Fund (a) | | 11,626,635 | 126,148,990 |
| Fidelity Series Overseas Fund (a) | | 10,024,365 | 126,407,248 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $552,266,077) | | | 758,902,838 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 1,104,975 | 10,033,172 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 324,636 | 3,252,856 |
| Fidelity Series Floating Rate High Income Fund (a) | | 210,353 | 1,933,142 |
| Fidelity Series High Income Fund (a) | | 1,227,482 | 11,513,783 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 3,436,600 | 36,909,083 |
| Fidelity Series International Credit Fund (a) | | 77,302 | 771,474 |
| Fidelity Series Investment Grade Bond Fund (a) | | 72,457 | 835,424 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 6,411,068 | 50,647,435 |
| Fidelity Series Real Estate Income Fund (a) | | 640,677 | 7,079,480 |
| TOTAL BOND FUNDS | | | |
| (Cost $127,810,801) | | | 122,975,849 |
|
| Short-Term Funds - 0.9% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 772,377 | 772,532 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 12,282,467 | 12,282,467 |
| Fidelity Series Short-Term Credit Fund (a) | | 254,394 | 2,587,191 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $15,583,299) | | | 15,642,190 |
| TOTAL INVESTMENT IN SECURITIES - 100.1% | | | |
| (Cost $1,397,324,111) | | | 1,863,159,540 |
| NET OTHER ASSETS (LIABILITIES) - (0.1)% | | | (1,345,377) |
| NET ASSETS - 100% | | | $1,861,814,163 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $3,554 |
| Total | $3,554 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Advisor Series Equity Growth Fund | $75,607,075 | $39,662,365 | $26,403,821 | $22,515,996 | $5,647,894 | $22,710,102 | $117,223,615 |
| Fidelity Advisor Series Growth Opportunities Fund | 48,812,389 | 31,112,215 | 25,611,653 | 18,950,653 | 5,027,758 | 22,176,434 | 81,517,143 |
| Fidelity Advisor Series Small Cap Fund | 32,087,950 | 6,611,505 | 11,684,186 | 1,648,910 | 1,464,783 | 24,558,450 | 53,038,502 |
| Fidelity Series All-Sector Equity Fund | 33,154,194 | 9,199,549 | 8,401,112 | 5,466,742 | 14,995 | 16,154,530 | 50,122,156 |
| Fidelity Series Canada Fund | 24,582,543 | 9,302,242 | 4,126,538 | 834,840 | (98,882) | 15,376,425 | 45,035,790 |
| Fidelity Series Commodity Strategy Fund | 41,372,338 | 13,573,540 | 15,226,573 | 183,707 | (3,231,294) | 14,903,861 | 51,391,872 |
| Fidelity Series Emerging Markets Debt Fund | 7,803,484 | 2,281,492 | 1,019,735 | 437,887 | 8,499 | 959,432 | 10,033,172 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 3,402,812 | 103,956 | 45,673 | 406 | (46,406) | 3,252,856 |
| Fidelity Series Emerging Markets Fund | 14,581,407 | 7,558,175 | 3,841,070 | 382,916 | 156,527 | 11,004,896 | 29,459,935 |
| Fidelity Series Emerging Markets Opportunities Fund | 136,554,263 | 60,587,806 | 31,456,891 | 7,399,486 | 1,989,872 | 98,368,972 | 266,044,022 |
| Fidelity Series Floating Rate High Income Fund | 1,561,377 | 392,466 | 242,549 | 75,897 | (6,345) | 228,193 | 1,933,142 |
| Fidelity Series Government Money Market Fund 0.08% | 37,187,479 | 22,726,903 | 47,631,915 | 39,142 | -- | -- | 12,282,467 |
| Fidelity Series High Income Fund | 9,537,674 | 1,881,890 | 1,226,649 | 587,891 | 11,213 | 1,309,655 | 11,513,783 |
| Fidelity Series Inflation-Protected Bond Index Fund | 26,536,334 | 14,081,219 | 5,495,061 | 441,244 | 16,965 | 1,769,626 | 36,909,083 |
| Fidelity Series International Credit Fund | 689,132 | 52,984 | -- | 52,984 | -- | 29,358 | 771,474 |
| Fidelity Series International Growth Fund | 103,711,518 | 34,118,967 | 35,100,575 | 17,047,969 | 5,516,069 | 17,952,405 | 126,198,384 |
| Fidelity Series International Small Cap Fund | 24,772,817 | 4,186,643 | 3,053,436 | 304,611 | 146,251 | 13,556,194 | 39,608,469 |
| Fidelity Series International Value Fund | 92,670,000 | 13,426,731 | 26,520,574 | 3,381,946 | (1,592,476) | 48,165,309 | 126,148,990 |
| Fidelity Series Investment Grade Bond Fund | -- | 877,080 | 17,261 | 6,057 | (79) | (24,316) | 835,424 |
| Fidelity Series Large Cap Stock Fund | 122,724,451 | 29,719,039 | 36,872,604 | 9,004,833 | 1,586,574 | 65,919,297 | 183,076,757 |
| Fidelity Series Large Cap Value Index Fund | 12,769,836 | 3,054,434 | 3,173,490 | 397,487 | 201,127 | 6,907,284 | 19,759,191 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 30,290,447 | 37,748,081 | 5,730,843 | 4,257,653 | 217,453 | (11,877,703) | 50,647,435 |
| Fidelity Series Opportunistic Insights Fund | 71,492,194 | 35,584,996 | 22,844,419 | 14,637,725 | 2,707,261 | 21,745,577 | 108,685,609 |
| Fidelity Series Overseas Fund | 86,562,100 | 17,559,628 | 17,695,458 | 1,321,177 | (79,950) | 40,060,928 | 126,407,248 |
| Fidelity Series Real Estate Income Fund | 5,147,913 | 1,280,612 | 985,502 | 379,660 | (29,870) | 1,666,327 | 7,079,480 |
| Fidelity Series Short-Term Credit Fund | 2,483,455 | 1,383,486 | 1,348,588 | 61,307 | (4,840) | 73,678 | 2,587,191 |
| Fidelity Series Small Cap Opportunities Fund | 40,625,599 | 8,433,296 | 13,981,345 | 1,288,562 | 1,076,078 | 29,311,163 | 65,464,791 |
| Fidelity Series Stock Selector Large Cap Value Fund | 75,740,241 | 16,100,410 | 21,769,149 | 2,446,156 | 129,918 | 45,745,528 | 115,946,948 |
| Fidelity Series Value Discovery Fund | 78,303,780 | 14,252,796 | 21,352,228 | 2,436,908 | 1,181,635 | 46,306,101 | 118,692,084 |
| | $1,237,361,990 | $440,153,362 | $392,917,181 | $116,036,019 | $22,057,542 | $555,011,300 | $1,861,667,013 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments and Net Other Assets | $719,995 | $-- | $719,995 | $-- |
| Domestic Equity Funds | 964,918,668 | 964,918,668 | -- | -- |
| International Equity Funds | 758,902,838 | 758,902,838 | -- | -- |
| Bond Funds | 122,975,849 | 122,975,849 | -- | -- |
| Short-Term Funds | 15,642,190 | 15,642,190 | -- | -- |
| Total Investments in Securities: | $1,863,159,540 | $1,862,439,545 | $719,995 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2045 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $719,992) | $719,995 | |
| Fidelity Central Funds (cost $772,528) | 772,532 | |
| Other affiliated issuers (cost $1,395,831,591) | 1,861,667,013 | |
| Total Investment in Securities (cost $1,397,324,111) | | $1,863,159,540 |
| Cash | | 21,067 |
| Receivable for investments sold | | 21,988,851 |
| Receivable for fund shares sold | | 2,785,844 |
| Distributions receivable from Fidelity Central Funds | | 45 |
| Receivable for daily variation margin on futures contracts | | 24,095 |
| Total assets | | 1,887,979,442 |
| Liabilities | | |
| Payable for investments purchased | $22,423,537 | |
| Payable for fund shares redeemed | 2,351,095 | |
| Accrued management fee | 1,121,784 | |
| Distribution and service plan fees payable | 268,863 | |
| Total liabilities | | 26,165,279 |
| Net Assets | | $1,861,814,163 |
| Net Assets consist of: | | |
| Paid in capital | | $1,319,483,765 |
| Total accumulated earnings (loss) | | 542,330,398 |
| Net Assets | | $1,861,814,163 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($643,282,636 ÷ 46,655,080 shares)(a) | | $13.79 |
| Maximum offering price per share (100/94.25 of $13.79) | | $14.63 |
| Class M: | | |
| Net Asset Value and redemption price per share ($258,275,697 ÷ 18,956,114 shares)(a) | | $13.62 |
| Maximum offering price per share (100/96.50 of $13.62) | | $14.11 |
| Class C: | | |
| Net Asset Value and offering price per share ($33,637,160 ÷ 2,518,426 shares)(a) | | $13.36 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($777,429,128 ÷ 55,890,688 shares) | | $13.91 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($35,350,120 ÷ 2,562,612 shares) | | $13.79 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($113,839,422 ÷ 8,199,291 shares) | | $13.88 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $25,825,092 |
| Interest | | 3,152 |
| Income from Fidelity Central Funds | | 3,554 |
| Total income | | 25,831,798 |
| Expenses | | |
| Management fee | $11,738,970 | |
| Distribution and service plan fees | 2,866,751 | |
| Independent trustees' fees and expenses | 4,516 | |
| Total expenses before reductions | 14,610,237 | |
| Expense reductions | (197) | |
| Total expenses after reductions | | 14,610,040 |
| Net investment income (loss) | | 11,221,758 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | 43 | |
| Fidelity Central Funds | (377) | |
| Other affiliated issuers | 22,161,338 | |
| Futures contracts | (1,157,709) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 90,210,927 | |
| Total net realized gain (loss) | | 111,214,222 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (1,508) | |
| Fidelity Central Funds | (169) | |
| Other affiliated issuers | 555,011,300 | |
| Futures contracts | (126,597) | |
| Total change in net unrealized appreciation (depreciation) | | 554,883,026 |
| Net gain (loss) | | 666,097,248 |
| Net increase (decrease) in net assets resulting from operations | | $677,319,006 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $11,221,758 | $18,561,322 |
| Net realized gain (loss) | 111,214,222 | 70,946,497 |
| Change in net unrealized appreciation (depreciation) | 554,883,026 | (236,020,508) |
| Net increase (decrease) in net assets resulting from operations | 677,319,006 | (146,512,689) |
| Distributions to shareholders | (91,085,840) | (102,870,591) |
| Share transactions - net increase (decrease) | 31,384,753 | 99,889,190 |
| Total increase (decrease) in net assets | 617,617,919 | (149,494,090) |
| Net Assets | | |
| Beginning of period | 1,244,196,244 | 1,393,690,334 |
| End of period | $1,861,814,163 | $1,244,196,244 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Advisor Freedom 2045 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $9.43 | $11.33 | $12.21 | $11.26 | $10.23 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .07 | .13 | .16 | .10 | .13 |
| Net realized and unrealized gain (loss) | 4.97 | (1.22) | .13 | 1.40 | 1.39 |
| Total from investment operations | 5.04 | (1.09) | .29 | 1.50 | 1.52 |
| Distributions from net investment income | (.10) | (.14) | (.18) | (.12) | (.13) |
| Distributions from net realized gain | (.59) | (.67) | (.99) | (.43) | (.36) |
| Total distributions | (.68)B | (.81) | (1.17) | (.55) | (.49) |
| Net asset value, end of period | $13.79 | $9.43 | $11.33 | $12.21 | $11.26 |
| Total ReturnC,D | 55.40% | (10.68)% | 3.13% | 13.44% | 15.50% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | 1.00% | 1.00% | .99%G | .87% | .25% |
| Expenses net of fee waivers, if any | 1.00% | 1.00% | .99%G | .87% | .25% |
| Expenses net of all reductions | 1.00% | 1.00% | .99%G | .87% | .25% |
| Net investment income (loss) | .62% | 1.19% | 1.38% | .79% | 1.22% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $643,283 | $456,849 | $547,563 | $566,474 | $556,090 |
| Portfolio turnover rateH | 25% | 30% | 22% | 21% | 22% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2045 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $9.34 | $11.22 | $12.12 | $11.19 | $10.17 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .04 | .10 | .13 | .06 | .10 |
| Net realized and unrealized gain (loss) | 4.90 | (1.20) | .12 | 1.39 | 1.39 |
| Total from investment operations | 4.94 | (1.10) | .25 | 1.45 | 1.49 |
| Distributions from net investment income | (.08) | (.12) | (.16) | (.10) | (.11) |
| Distributions from net realized gain | (.59) | (.67) | (.99) | (.43) | (.36) |
| Total distributions | (.66)B | (.78)B | (1.15) | (.52)B | (.47) |
| Net asset value, end of period | $13.62 | $9.34 | $11.22 | $12.12 | $11.19 |
| Total ReturnC,D | 54.84% | (10.80)% | 2.79% | 13.12% | 15.29% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | 1.25% | 1.25% | 1.24%G | 1.13% | .50% |
| Expenses net of fee waivers, if any | 1.25% | 1.25% | 1.24%G | 1.13% | .50% |
| Expenses net of all reductions | 1.25% | 1.25% | 1.24%G | 1.13% | .50% |
| Net investment income (loss) | .36% | .94% | 1.13% | .54% | .97% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $258,276 | $181,179 | $210,625 | $207,442 | $186,200 |
| Portfolio turnover rateH | 25% | 30% | 22% | 21% | 22% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2045 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $9.18 | $11.07 | $11.98 | $11.08 | $10.09 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | (.02) | .05 | .07 | –B | .05 |
| Net realized and unrealized gain (loss) | 4.83 | (1.20) | .13 | 1.38 | 1.38 |
| Total from investment operations | 4.81 | (1.15) | .20 | 1.38 | 1.43 |
| Distributions from net investment income | (.04) | (.08) | (.12) | (.05) | (.08) |
| Distributions from net realized gain | (.59) | (.67) | (.99) | (.43) | (.36) |
| Total distributions | (.63) | (.74)C | (1.11) | (.48) | (.44) |
| Net asset value, end of period | $13.36 | $9.18 | $11.07 | $11.98 | $11.08 |
| Total ReturnD,E | 54.24% | (11.32)% | 2.29% | 12.59% | 14.71% |
| Ratios to Average Net AssetsF,G | | | | | |
| Expenses before reductions | 1.75% | 1.75% | 1.74%H | 1.63% | 1.00% |
| Expenses net of fee waivers, if any | 1.75% | 1.75% | 1.74%H | 1.63% | 1.00% |
| Expenses net of all reductions | 1.75% | 1.75% | 1.74%H | 1.63% | 1.00% |
| Net investment income (loss) | (.14)% | .44% | .63% | .04% | .47% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $33,637 | $22,256 | $25,383 | $30,549 | $27,491 |
| Portfolio turnover rateI | 25% | 30% | 22% | 21% | 22% |
A Calculated based on average shares outstanding during the period.
B Amount represents less than $.005 per share.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the contingent deferred sales charge.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2045 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $9.50 | $11.41 | $12.29 | $11.33 | $10.28 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .10 | .16 | .19 | .12 | .16 |
| Net realized and unrealized gain (loss) | 5.02 | (1.23) | .13 | 1.42 | 1.40 |
| Total from investment operations | 5.12 | (1.07) | .32 | 1.54 | 1.56 |
| Distributions from net investment income | (.12) | (.16) | (.20) | (.14) | (.15) |
| Distributions from net realized gain | (.59) | (.68) | (.99) | (.44) | (.36) |
| Total distributions | (.71) | (.84) | (1.20)B | (.58) | (.51) |
| Net asset value, end of period | $13.91 | $9.50 | $11.41 | $12.29 | $11.33 |
| Total ReturnC | 55.77% | (10.46)% | 3.34% | 13.77% | 15.83% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .75% | .75% | .75% | .64% | - %F |
| Expenses net of fee waivers, if any | .75% | .75% | .75% | .64% | -% |
| Expenses net of all reductions | .75% | .75% | .75% | .64% | -% |
| Net investment income (loss) | .87% | 1.44% | 1.63% | 1.03% | 1.47% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $777,429 | $522,314 | $577,252 | $543,170 | $420,967 |
| Portfolio turnover rateG | 25% | 30% | 22% | 21% | 22% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount represents less than .005%.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2045 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.43 | $11.35 | $12.36 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .17 | .20 |
| Net realized and unrealized gain (loss) | 4.96 | (1.22) | (.46) |
| Total from investment operations | 5.08 | (1.05) | (.26) |
| Distributions from net investment income | (.14) | (.18) | (.26) |
| Distributions from net realized gain | (.59) | (.69) | (.49) |
| Total distributions | (.72)C | (.87) | (.75) |
| Net asset value, end of period | $13.79 | $9.43 | $11.35 |
| Total ReturnD,E | 55.85% | (10.33)% | (1.33)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .64% | .65%H | .64%I |
| Expenses net of fee waivers, if any | .64% | .65%H | .64%I |
| Expenses net of all reductions | .64% | .65%H | .64%I |
| Net investment income (loss) | .97% | 1.54% | 3.71%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $35,350 | $16,800 | $1,376 |
| Portfolio turnover rateJ | 25% | 30% | 22% |
A For the period October 2, 2018 (commencement of sale of shares) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2045 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $9.48 | $11.39 | $12.28 | $11.65 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .14 | .19 | .22 | .15 |
| Net realized and unrealized gain (loss) | 4.99 | (1.23) | .12 | .92 |
| Total from investment operations | 5.13 | (1.04) | .34 | 1.07 |
| Distributions from net investment income | (.15) | (.19) | (.24) | (.18) |
| Distributions from net realized gain | (.59) | (.69) | (.99) | (.26) |
| Total distributions | (.73)C | (.87)C | (1.23) | (.44) |
| Net asset value, end of period | $13.88 | $9.48 | $11.39 | $12.28 |
| Total ReturnD,E | 56.12% | (10.22)% | 3.58% | 9.15% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .49% | .49% | .50%H | .51%H,I |
| Expenses net of fee waivers, if any | .49% | .49% | .50%H | .51%H,I |
| Expenses net of all reductions | .49% | .49% | .50%H | .51%H,I |
| Net investment income (loss) | 1.12% | 1.70% | 1.88% | 1.50%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $113,839 | $44,798 | $31,493 | $9,112 |
| Portfolio turnover rateJ | 25% | 30% | 22% | 21% |
A For the period June 6, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2050 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Large Cap Stock Fund | 9.8 |
| Fidelity Series Overseas Fund | 6.8 |
| Fidelity Series International Growth Fund | 6.8 |
| Fidelity Series International Value Fund | 6.8 |
| Fidelity Series Value Discovery Fund | 6.4 |
| Fidelity Advisor Series Equity Growth Fund | 6.3 |
| Fidelity Series Stock Selector Large Cap Value Fund | 6.2 |
| Fidelity Series Opportunistic Insights Fund | 5.8 |
| Fidelity Advisor Series Growth Opportunities Fund | 4.4 |
| | 73.6 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.9% |
| | Net Other Assets (Liabilities)* | (0.1)% |
* Net Other Assets (Liabilities) are not included in the pie chart
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Advisor Freedom® 2050 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.0% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.02% to 0.08% 4/1/21 to 6/17/21 | | | |
| (Cost $599,993) | | 600,000 | 599,996 |
| | | Shares | Value |
|
| Domestic Equity Funds - 51.8% | | | |
| Fidelity Advisor Series Equity Growth Fund (a) | | 5,884,715 | $97,980,503 |
| Fidelity Advisor Series Growth Opportunities Fund (a) | | 4,038,852 | 68,135,430 |
| Fidelity Advisor Series Small Cap Fund (a) | | 2,905,103 | 44,331,868 |
| Fidelity Series All-Sector Equity Fund (a) | | 3,571,551 | 41,894,296 |
| Fidelity Series Commodity Strategy Fund (a) | | 8,768,437 | 42,965,340 |
| Fidelity Series Large Cap Stock Fund (a) | | 8,293,971 | 153,023,759 |
| Fidelity Series Large Cap Value Index Fund (a) | | 1,124,277 | 16,515,626 |
| Fidelity Series Opportunistic Insights Fund (a) | | 4,468,476 | 90,844,117 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 3,087,939 | 54,718,283 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 6,791,432 | 96,913,735 |
| Fidelity Series Value Discovery Fund (a) | | 6,231,672 | 99,208,213 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $590,574,297) | | | 806,531,170 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 2,947,761 | 37,642,902 |
| Fidelity Series Emerging Markets Fund (a) | | 2,106,825 | 24,628,787 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 8,666,268 | 222,376,425 |
| Fidelity Series International Growth Fund (a) | | 5,879,717 | 105,482,126 |
| Fidelity Series International Small Cap Fund (a) | | 1,598,036 | 33,111,302 |
| Fidelity Series International Value Fund (a) | | 9,718,500 | 105,445,725 |
| Fidelity Series Overseas Fund (a) | | 8,378,802 | 105,656,698 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $464,170,886) | | | 634,343,965 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 924,120 | 8,391,006 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 271,827 | 2,723,703 |
| Fidelity Series Floating Rate High Income Fund (a) | | 175,945 | 1,616,934 |
| Fidelity Series High Income Fund (a) | | 1,027,021 | 9,633,461 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 2,873,319 | 30,859,443 |
| Fidelity Series International Credit Fund (a) | | 60,751 | 606,296 |
| Fidelity Series Investment Grade Bond Fund (a) | | 60,020 | 692,033 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 5,359,880 | 42,343,056 |
| Fidelity Series Real Estate Income Fund (a) | | 535,506 | 5,917,342 |
| TOTAL BOND FUNDS | | | |
| (Cost $106,893,758) | | | 102,783,274 |
|
| Short-Term Funds - 0.9% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 623,794 | 623,919 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 10,266,165 | 10,266,165 |
| Fidelity Series Short-Term Credit Fund (a) | | 212,634 | 2,162,490 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $13,002,737) | | | 13,052,574 |
| TOTAL INVESTMENT IN SECURITIES - 100.1% | | | |
| (Cost $1,175,241,671) | | | 1,557,310,979 |
| NET OTHER ASSETS (LIABILITIES) - (0.1)% | | | (1,119,060) |
| NET ASSETS - 100% | | | $1,556,191,919 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $2,828 |
| Total | $2,828 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Advisor Series Equity Growth Fund | $61,058,917 | $34,505,402 | $20,560,682 | $18,712,246 | $3,651,554 | $19,325,312 | $97,980,503 |
| Fidelity Advisor Series Growth Opportunities Fund | 39,418,229 | 26,946,589 | 20,311,438 | 15,749,260 | 3,710,917 | 18,371,133 | 68,135,430 |
| Fidelity Advisor Series Small Cap Fund | 25,945,611 | 6,106,329 | 9,181,945 | 1,370,295 | 993,647 | 20,468,226 | 44,331,868 |
| Fidelity Series All-Sector Equity Fund | 26,774,286 | 8,410,074 | 6,534,575 | 4,551,686 | 128,663 | 13,115,848 | 41,894,296 |
| Fidelity Series Canada Fund | 19,809,649 | 8,437,318 | 3,212,573 | 693,254 | (73,037) | 12,681,545 | 37,642,902 |
| Fidelity Series Commodity Strategy Fund | 33,420,668 | 11,972,685 | 12,053,320 | 151,276 | (2,418,713) | 12,044,020 | 42,965,340 |
| Fidelity Series Emerging Markets Debt Fund | 6,301,127 | 2,066,993 | 761,893 | 360,778 | 13,176 | 771,603 | 8,391,006 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 2,849,844 | 87,296 | 38,051 | 170 | (39,015) | 2,723,703 |
| Fidelity Series Emerging Markets Fund | 11,780,841 | 6,592,906 | 2,925,585 | 317,957 | 117,828 | 9,062,797 | 24,628,787 |
| Fidelity Series Emerging Markets Opportunities Fund | 110,296,509 | 52,977,317 | 23,374,321 | 6,144,092 | 1,308,469 | 81,168,451 | 222,376,425 |
| Fidelity Series Floating Rate High Income Fund | 1,258,928 | 356,912 | 180,951 | 62,705 | (5,919) | 187,964 | 1,616,934 |
| Fidelity Series Government Money Market Fund 0.08% | 30,012,201 | 18,995,958 | 38,741,994 | 32,040 | -- | -- | 10,266,165 |
| Fidelity Series High Income Fund | 7,703,311 | 1,766,889 | 916,473 | 484,872 | 34 | 1,079,700 | 9,633,461 |
| Fidelity Series Inflation-Protected Bond Index Fund | 21,431,412 | 12,116,628 | 4,145,715 | 366,264 | 13,411 | 1,443,707 | 30,859,443 |
| Fidelity Series International Credit Fund | 541,583 | 41,641 | -- | 41,640 | -- | 23,072 | 606,296 |
| Fidelity Series International Growth Fund | 83,827,283 | 30,375,889 | 27,807,080 | 14,155,978 | 3,747,053 | 15,338,981 | 105,482,126 |
| Fidelity Series International Small Cap Fund | 20,028,601 | 4,004,054 | 2,183,043 | 252,918 | 108,215 | 11,153,475 | 33,111,302 |
| Fidelity Series International Value Fund | 74,915,069 | 12,963,180 | 20,840,785 | 2,807,844 | (1,057,993) | 39,466,254 | 105,445,725 |
| Fidelity Series Investment Grade Bond Fund | -- | 734,321 | 22,140 | 5,010 | (76) | (20,072) | 692,033 |
| Fidelity Series Large Cap Stock Fund | 99,130,398 | 27,142,961 | 29,011,482 | 7,416,067 | 1,558,456 | 54,203,426 | 153,023,759 |
| Fidelity Series Large Cap Value Index Fund | 10,314,647 | 2,822,330 | 2,488,912 | 330,140 | 140,959 | 5,726,602 | 16,515,626 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 24,463,695 | 31,984,205 | 4,412,311 | 3,522,695 | 158,984 | (9,851,517) | 42,343,056 |
| Fidelity Series Opportunistic Insights Fund | 57,733,234 | 31,125,364 | 17,856,455 | 12,165,998 | 1,755,267 | 18,086,707 | 90,844,117 |
| Fidelity Series Overseas Fund | 69,834,679 | 16,683,750 | 13,679,032 | 1,097,147 | (97,123) | 32,914,424 | 105,656,698 |
| Fidelity Series Real Estate Income Fund | 4,163,039 | 1,158,912 | 753,136 | 314,813 | (40,720) | 1,389,247 | 5,917,342 |
| Fidelity Series Short-Term Credit Fund | 2,033,962 | 1,188,156 | 1,116,711 | 51,079 | (4,202) | 61,285 | 2,162,490 |
| Fidelity Series Small Cap Opportunities Fund | 32,800,494 | 7,831,547 | 10,983,693 | 1,067,640 | 765,316 | 24,304,619 | 54,718,283 |
| Fidelity Series Stock Selector Large Cap Value Fund | 61,188,399 | 15,078,000 | 17,219,126 | 2,031,817 | 111,310 | 37,755,152 | 96,913,735 |
| Fidelity Series Value Discovery Fund | 63,247,581 | 13,386,589 | 16,591,433 | 2,024,122 | 942,622 | 38,222,854 | 99,208,213 |
| | $999,434,353 | $390,622,743 | $307,954,100 | $96,319,684 | $15,528,268 | $458,455,800 | $1,556,087,064 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments and Net Other Assets | $599,996 | $-- | $599,996 | $-- |
| Domestic Equity Funds | 806,531,170 | 806,531,170 | -- | -- |
| International Equity Funds | 634,343,965 | 634,343,965 | -- | -- |
| Bond Funds | 102,783,274 | 102,783,274 | -- | -- |
| Short-Term Funds | 13,052,574 | 13,052,574 | -- | -- |
| Total Investments in Securities: | $1,557,310,979 | $1,556,710,983 | $599,996 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2050 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $599,993) | $599,996 | |
| Fidelity Central Funds (cost $623,918) | 623,919 | |
| Other affiliated issuers (cost $1,174,017,760) | 1,556,087,064 | |
| Total Investment in Securities (cost $1,175,241,671) | | $1,557,310,979 |
| Cash | | 17,413 |
| Receivable for investments sold | | 18,302,792 |
| Receivable for fund shares sold | | 2,462,866 |
| Distributions receivable from Fidelity Central Funds | | 37 |
| Receivable for daily variation margin on futures contracts | | 20,533 |
| Total assets | | 1,578,114,620 |
| Liabilities | | |
| Payable for investments purchased | $18,974,483 | |
| Payable for fund shares redeemed | 1,791,024 | |
| Accrued management fee | 936,968 | |
| Distribution and service plan fees payable | 220,226 | |
| Total liabilities | | 21,922,701 |
| Net Assets | | $1,556,191,919 |
| Net Assets consist of: | | |
| Paid in capital | | $1,112,315,101 |
| Total accumulated earnings (loss) | | 443,876,818 |
| Net Assets | | $1,556,191,919 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($516,427,170 ÷ 37,474,856 shares)(a) | | $13.78 |
| Maximum offering price per share (100/94.25 of $13.78) | | $14.62 |
| Class M: | | |
| Net Asset Value and redemption price per share ($205,281,127 ÷ 15,022,490 shares)(a) | | $13.66 |
| Maximum offering price per share (100/96.50 of $13.66) | | $14.16 |
| Class C: | | |
| Net Asset Value and offering price per share ($33,104,957 ÷ 2,467,828 shares)(a) | | $13.41 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($675,616,802 ÷ 48,601,230 shares) | | $13.90 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($26,670,362 ÷ 1,932,996 shares) | | $13.80 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($99,091,501 ÷ 7,141,792 shares) | | $13.87 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $21,407,121 |
| Interest | | 2,568 |
| Income from Fidelity Central Funds | | 2,828 |
| Total income | | 21,412,517 |
| Expenses | | |
| Management fee | $9,688,008 | |
| Distribution and service plan fees | 2,343,306 | |
| Independent trustees' fees and expenses | 3,707 | |
| Total expenses before reductions | 12,035,021 | |
| Expense reductions | (194) | |
| Total expenses after reductions | | 12,034,827 |
| Net investment income (loss) | | 9,377,690 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | 42 | |
| Fidelity Central Funds | (297) | |
| Other affiliated issuers | 15,618,584 | |
| Futures contracts | (966,123) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 74,912,563 | |
| Total net realized gain (loss) | | 89,564,769 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (1,225) | |
| Fidelity Central Funds | (136) | |
| Other affiliated issuers | 458,455,800 | |
| Futures contracts | (109,681) | |
| Total change in net unrealized appreciation (depreciation) | | 458,344,758 |
| Net gain (loss) | | 547,909,527 |
| Net increase (decrease) in net assets resulting from operations | | $557,287,217 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $9,377,690 | $15,055,161 |
| Net realized gain (loss) | 89,564,769 | 58,144,227 |
| Change in net unrealized appreciation (depreciation) | 458,344,758 | (189,911,558) |
| Net increase (decrease) in net assets resulting from operations | 557,287,217 | (116,712,170) |
| Distributions to shareholders | (74,293,041) | (82,439,055) |
| Share transactions - net increase (decrease) | 68,265,186 | 76,677,887 |
| Total increase (decrease) in net assets | 551,259,362 | (122,473,338) |
| Net Assets | | |
| Beginning of period | 1,004,932,557 | 1,127,405,895 |
| End of period | $1,556,191,919 | $1,004,932,557 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Advisor Freedom 2050 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $9.43 | $11.31 | $12.17 | $11.20 | $10.16 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .07 | .13 | .16 | .09 | .13 |
| Net realized and unrealized gain (loss) | 4.96 | (1.21) | .13 | 1.40 | 1.39 |
| Total from investment operations | 5.03 | (1.08) | .29 | 1.49 | 1.52 |
| Distributions from net investment income | (.10) | (.14) | (.18) | (.12) | (.13) |
| Distributions from net realized gain | (.58) | (.66) | (.97) | (.40) | (.34) |
| Total distributions | (.68) | (.80) | (1.15) | (.52) | (.48)B |
| Net asset value, end of period | $13.78 | $9.43 | $11.31 | $12.17 | $11.20 |
| Total ReturnC,D | 55.26% | (10.58)% | 3.08% | 13.42% | 15.52% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | 1.00% | 1.00% | .99%G | .88% | .25% |
| Expenses net of fee waivers, if any | 1.00% | 1.00% | .99%G | .88% | .25% |
| Expenses net of all reductions | 1.00% | 1.00% | .99%G | .88% | .25% |
| Net investment income (loss) | .62% | 1.20% | 1.38% | .79% | 1.22% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $516,427 | $358,407 | $417,583 | $418,313 | $396,373 |
| Portfolio turnover rateH | 24% | 32% | 23% | 20% | 25% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2050 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $9.36 | $11.24 | $12.11 | $11.15 | $10.12 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .04 | .11 | .13 | .06 | .10 |
| Net realized and unrealized gain (loss) | 4.92 | (1.22) | .13 | 1.39 | 1.38 |
| Total from investment operations | 4.96 | (1.11) | .26 | 1.45 | 1.48 |
| Distributions from net investment income | (.08) | (.11) | (.16) | (.10) | (.11) |
| Distributions from net realized gain | (.58) | (.65) | (.97) | (.40) | (.34) |
| Total distributions | (.66) | (.77)B | (1.13) | (.49)B | (.45) |
| Net asset value, end of period | $13.66 | $9.36 | $11.24 | $12.11 | $11.15 |
| Total ReturnC,D | 54.91% | (10.88)% | 2.83% | 13.16% | 15.22% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | 1.25% | 1.25% | 1.25% | 1.13% | .50% |
| Expenses net of fee waivers, if any | 1.25% | 1.25% | 1.25% | 1.13% | .50% |
| Expenses net of all reductions | 1.25% | 1.25% | 1.25% | 1.13% | .50% |
| Net investment income (loss) | .37% | .95% | 1.13% | .54% | .97% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $205,281 | $143,526 | $172,974 | $166,634 | $147,601 |
| Portfolio turnover rateG | 24% | 32% | 23% | 20% | 25% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2050 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $9.22 | $11.10 | $11.98 | $11.05 | $10.04 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | (.01) | .05 | .07 | –B | .05 |
| Net realized and unrealized gain (loss) | 4.82 | (1.20) | .14 | 1.38 | 1.37 |
| Total from investment operations | 4.81 | (1.15) | .21 | 1.38 | 1.42 |
| Distributions from net investment income | (.04) | (.07) | (.11) | (.06) | (.08) |
| Distributions from net realized gain | (.58) | (.65) | (.97) | (.39) | (.34) |
| Total distributions | (.62) | (.73)C | (1.09)C | (.45) | (.41)C |
| Net asset value, end of period | $13.41 | $9.22 | $11.10 | $11.98 | $11.05 |
| Total ReturnD,E | 54.09% | (11.32)% | 2.34% | 12.59% | 14.73% |
| Ratios to Average Net AssetsF,G | | | | | |
| Expenses before reductions | 1.75% | 1.75% | 1.74%H | 1.63% | 1.00% |
| Expenses net of fee waivers, if any | 1.75% | 1.75% | 1.74%H | 1.63% | 1.00% |
| Expenses net of all reductions | 1.75% | 1.75% | 1.74%H | 1.63% | 1.00% |
| Net investment income (loss) | (.13)% | .45% | .63% | .04% | .47% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $33,105 | $21,457 | $26,139 | $32,763 | $28,268 |
| Portfolio turnover rateI | 24% | 32% | 23% | 20% | 25% |
A Calculated based on average shares outstanding during the period.
B Amount represents less than $.005 per share.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the contingent deferred sales charge.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2050 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $9.50 | $11.39 | $12.25 | $11.27 | $10.22 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .11 | .16 | .19 | .12 | .16 |
| Net realized and unrealized gain (loss) | 4.99 | (1.22) | .12 | 1.41 | 1.39 |
| Total from investment operations | 5.10 | (1.06) | .31 | 1.53 | 1.55 |
| Distributions from net investment income | (.12) | (.16) | (.20) | (.14) | (.15) |
| Distributions from net realized gain | (.58) | (.67) | (.97) | (.41) | (.35) |
| Total distributions | (.70) | (.83) | (1.17) | (.55) | (.50) |
| Net asset value, end of period | $13.90 | $9.50 | $11.39 | $12.25 | $11.27 |
| Total ReturnB | 55.65% | (10.37)% | 3.30% | 13.74% | 15.81% |
| Ratios to Average Net AssetsC,D | | | | | |
| Expenses before reductions | .75% | .75% | .75% | .64% | - %E |
| Expenses net of fee waivers, if any | .75% | .75% | .75% | .64% | -% |
| Expenses net of all reductions | .75% | .75% | .75% | .64% | -% |
| Net investment income (loss) | .87% | 1.45% | 1.63% | 1.03% | 1.47% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $675,617 | $436,294 | $488,167 | $466,677 | $357,398 |
| Portfolio turnover rateF | 24% | 32% | 23% | 20% | 25% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
E Amount represents less than .005%.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2050 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.43 | $11.34 | $12.34 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .17 | .28 |
| Net realized and unrealized gain (loss) | 4.97 | (1.22) | (.54) |
| Total from investment operations | 5.09 | (1.05) | (.26) |
| Distributions from net investment income | (.14) | (.18) | (.25) |
| Distributions from net realized gain | (.58) | (.68) | (.49) |
| Total distributions | (.72) | (.86) | (.74) |
| Net asset value, end of period | $13.80 | $9.43 | $11.34 |
| Total ReturnC,D | 55.96% | (10.33)% | (1.34)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .64% | .65%G | .65%G,H |
| Expenses net of fee waivers, if any | .64% | .65%G | .65%G,H |
| Expenses net of all reductions | .64% | .65%G | .65%G,H |
| Net investment income (loss) | .98% | 1.55% | 5.18%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $26,670 | $11,414 | $650 |
| Portfolio turnover rateI | 24% | 32% | 23% |
A For the period October 2, 2018 (commencement of sale of shares) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2050 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $9.48 | $11.37 | $12.24 | $11.59 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .14 | .19 | .22 | .23 |
| Net realized and unrealized gain (loss) | 4.98 | (1.22) | .12 | .83 |
| Total from investment operations | 5.12 | (1.03) | .34 | 1.06 |
| Distributions from net investment income | (.15) | (.18) | (.24) | (.17) |
| Distributions from net realized gain | (.58) | (.68) | (.97) | (.24) |
| Total distributions | (.73) | (.86) | (1.21) | (.41) |
| Net asset value, end of period | $13.87 | $9.48 | $11.37 | $12.24 |
| Total ReturnC,D | 56.00% | (10.14)% | 3.55% | 9.15% |
| Ratios to Average Net AssetsE,F | | | | |
| Expenses before reductions | .49% | .49% | .50%G | .51%G,H |
| Expenses net of fee waivers, if any | .49% | .49% | .50%G | .51%G,H |
| Expenses net of all reductions | .49% | .49% | .50%G | .51%G,H |
| Net investment income (loss) | 1.13% | 1.70% | 1.88% | 2.27%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $99,092 | $33,835 | $21,893 | $5,410 |
| Portfolio turnover rateI | 24% | 32% | 23% | 20% |
A For the period June 6, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2055 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Large Cap Stock Fund | 9.8 |
| Fidelity Series Overseas Fund | 6.8 |
| Fidelity Series International Growth Fund | 6.8 |
| Fidelity Series International Value Fund | 6.8 |
| Fidelity Series Value Discovery Fund | 6.4 |
| Fidelity Advisor Series Equity Growth Fund | 6.3 |
| Fidelity Series Stock Selector Large Cap Value Fund | 6.2 |
| Fidelity Series Opportunistic Insights Fund | 5.8 |
| Fidelity Advisor Series Growth Opportunities Fund | 4.4 |
| | 73.6 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
| | Short-Term Investments | 0.1% |
| | Net Other Assets (Liabilities)* | (0.1)% |
* Net Other Assets (Liabilities) are not included in the pie chart
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Advisor Freedom® 2055 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.1% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.02% to 0.08% 4/1/21 to 6/17/21 | | | |
| (Cost $379,995) | | 380,000 | 379,996 |
| | | Shares | Value |
|
| Domestic Equity Funds - 51.8% | | | |
| Fidelity Advisor Series Equity Growth Fund (a) | | 3,563,841 | $59,337,947 |
| Fidelity Advisor Series Growth Opportunities Fund (a) | | 2,445,978 | 41,263,651 |
| Fidelity Advisor Series Small Cap Fund (a) | | 1,759,354 | 26,847,743 |
| Fidelity Series All-Sector Equity Fund (a) | | 2,162,963 | 25,371,555 |
| Fidelity Series Commodity Strategy Fund (a) | | 5,312,605 | 26,031,766 |
| Fidelity Series Large Cap Stock Fund (a) | | 5,022,896 | 92,672,429 |
| Fidelity Series Large Cap Value Index Fund (a) | | 680,872 | 10,002,007 |
| Fidelity Series Opportunistic Insights Fund (a) | | 2,706,150 | 55,016,037 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 1,870,082 | 33,137,849 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 4,112,946 | 58,691,736 |
| Fidelity Series Value Discovery Fund (a) | | 3,773,952 | 60,081,315 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $384,500,796) | | | 488,454,035 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 1,785,191 | 22,796,894 |
| Fidelity Series Emerging Markets Fund (a) | | 1,276,411 | 14,921,246 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 5,248,621 | 134,679,611 |
| Fidelity Series International Growth Fund (a) | | 3,560,790 | 63,880,580 |
| Fidelity Series International Small Cap Fund (a) | | 968,052 | 20,058,027 |
| Fidelity Series International Value Fund (a) | | 5,886,081 | 63,863,976 |
| Fidelity Series Overseas Fund (a) | | 5,074,242 | 63,986,193 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $295,178,929) | | | 384,186,527 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 560,287 | 5,087,406 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 165,195 | 1,655,249 |
| Fidelity Series Floating Rate High Income Fund (a) | | 106,634 | 979,966 |
| Fidelity Series High Income Fund (a) | | 623,201 | 5,845,628 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 1,740,896 | 18,697,228 |
| Fidelity Series International Credit Fund (a) | | 27,747 | 276,910 |
| Fidelity Series Investment Grade Bond Fund (a) | | 36,378 | 419,443 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 3,247,430 | 25,654,695 |
| Fidelity Series Real Estate Income Fund (a) | | 324,306 | 3,583,583 |
| TOTAL BOND FUNDS | | | |
| (Cost $64,554,311) | | | 62,200,108 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 373,501 | 373,576 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 6,217,291 | 6,217,291 |
| Fidelity Series Short-Term Credit Fund (a) | | 128,773 | 1,309,621 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $7,868,288) | | | 7,900,488 |
| TOTAL INVESTMENT IN SECURITIES - 100.1% | | | |
| (Cost $752,482,319) | | | 943,121,154 |
| NET OTHER ASSETS (LIABILITIES) - (0.1)% | | | (667,153) |
| NET ASSETS - 100% | | | $942,454,001 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $1,599 |
| Total | $1,599 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Advisor Series Equity Growth Fund | $35,430,218 | $22,501,562 | $11,990,567 | $11,251,167 | $1,435,563 | $11,961,171 | $59,337,947 |
| Fidelity Advisor Series Growth Opportunities Fund | 22,869,943 | 17,393,322 | 11,907,710 | 9,468,592 | 1,915,814 | 10,992,282 | 41,263,651 |
| Fidelity Advisor Series Small Cap Fund | 15,070,858 | 4,491,539 | 5,489,426 | 823,877 | 372,454 | 12,402,318 | 26,847,743 |
| Fidelity Series All-Sector Equity Fund | 15,543,866 | 5,815,419 | 3,811,116 | 2,740,085 | (318,742) | 8,142,128 | 25,371,555 |
| Fidelity Series Canada Fund | 11,495,621 | 5,766,222 | 1,973,698 | 416,988 | (46,607) | 7,555,356 | 22,796,894 |
| Fidelity Series Commodity Strategy Fund | 19,435,487 | 8,038,240 | 7,184,045 | 90,717 | (1,156,986) | 6,899,070 | 26,031,766 |
| Fidelity Series Emerging Markets Debt Fund | 3,666,378 | 1,408,097 | 445,640 | 215,559 | 8,191 | 450,380 | 5,087,406 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 1,739,883 | 61,842 | 22,919 | 244 | (23,036) | 1,655,249 |
| Fidelity Series Emerging Markets Fund | 6,848,582 | 4,379,961 | 1,766,145 | 191,256 | 65,232 | 5,393,616 | 14,921,246 |
| Fidelity Series Emerging Markets Opportunities Fund | 64,104,304 | 35,758,572 | 14,154,285 | 3,696,694 | 531,097 | 48,439,923 | 134,679,611 |
| Fidelity Series Floating Rate High Income Fund | 738,252 | 238,368 | 105,671 | 37,896 | (534) | 109,551 | 979,966 |
| Fidelity Series Government Money Market Fund 0.08% | 17,416,116 | 11,635,259 | 22,834,084 | 18,973 | -- | -- | 6,217,291 |
| Fidelity Series High Income Fund | 4,472,076 | 1,273,072 | 535,796 | 289,452 | 2,202 | 634,074 | 5,845,628 |
| Fidelity Series Inflation-Protected Bond Index Fund | 12,449,254 | 7,827,195 | 2,437,199 | 220,270 | 8,015 | 849,963 | 18,697,228 |
| Fidelity Series International Credit Fund | 247,355 | 19,017 | -- | 19,018 | -- | 10,538 | 276,910 |
| Fidelity Series International Growth Fund | 48,743,741 | 20,274,011 | 16,290,629 | 8,515,170 | 714,254 | 10,439,203 | 63,880,580 |
| Fidelity Series International Small Cap Fund | 11,650,965 | 3,051,846 | 1,329,723 | 152,194 | 57,542 | 6,627,397 | 20,058,027 |
| Fidelity Series International Value Fund | 43,608,174 | 9,766,487 | 12,359,429 | 1,689,350 | (414,329) | 23,263,073 | 63,863,976 |
| Fidelity Series Investment Grade Bond Fund | -- | 447,278 | 15,682 | 3,018 | (34) | (12,119) | 419,443 |
| Fidelity Series Large Cap Stock Fund | 57,573,265 | 18,997,626 | 17,124,292 | 4,428,261 | 788,490 | 32,437,340 | 92,672,429 |
| Fidelity Series Large Cap Value Index Fund | 6,016,237 | 1,968,511 | 1,482,062 | 198,614 | 65,396 | 3,433,925 | 10,002,007 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 14,209,861 | 19,928,065 | 2,656,106 | 2,105,290 | 85,243 | (5,912,368) | 25,654,695 |
| Fidelity Series Opportunistic Insights Fund | 33,504,927 | 20,314,093 | 10,380,616 | 7,321,897 | 809,524 | 10,768,109 | 55,016,037 |
| Fidelity Series Overseas Fund | 40,426,611 | 12,118,257 | 7,974,998 | 660,110 | (38,720) | 19,455,043 | 63,986,193 |
| Fidelity Series Real Estate Income Fund | 2,419,316 | 807,416 | 444,304 | 189,156 | (13,591) | 814,746 | 3,583,583 |
| Fidelity Series Short-Term Credit Fund | 1,224,166 | 724,841 | 673,939 | 30,874 | (2,529) | 37,082 | 1,309,621 |
| Fidelity Series Small Cap Opportunities Fund | 19,062,767 | 5,671,038 | 6,533,867 | 641,855 | 359,047 | 14,578,864 | 33,137,849 |
| Fidelity Series Stock Selector Large Cap Value Fund | 35,558,943 | 10,836,009 | 10,266,555 | 1,222,376 | 250,004 | 22,313,335 | 58,691,736 |
| Fidelity Series Value Discovery Fund | 36,731,477 | 9,908,963 | 9,881,667 | 1,217,761 | 387,129 | 22,935,413 | 60,081,315 |
| | $580,518,760 | $263,100,169 | $182,111,093 | $57,879,389 | $5,863,369 | $274,996,377 | $942,367,582 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments and Net Other Assets | $379,996 | $-- | $379,996 | $-- |
| Domestic Equity Funds | 488,454,035 | 488,454,035 | -- | -- |
| International Equity Funds | 384,186,527 | 384,186,527 | -- | -- |
| Bond Funds | 62,200,108 | 62,200,108 | -- | -- |
| Short-Term Funds | 7,900,488 | 7,900,488 | -- | -- |
| Total Investments in Securities: | $943,121,154 | $942,741,158 | $379,996 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2055 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $379,995) | $379,996 | |
| Fidelity Central Funds (cost $373,576) | 373,576 | |
| Other affiliated issuers (cost $751,728,748) | 942,367,582 | |
| Total Investment in Securities (cost $752,482,319) | | $943,121,154 |
| Cash | | 11,400 |
| Receivable for investments sold | | 11,039,300 |
| Receivable for fund shares sold | | 1,988,152 |
| Distributions receivable from Fidelity Central Funds | | 23 |
| Receivable for daily variation margin on futures contracts | | 10,579 |
| Total assets | | 956,170,608 |
| Liabilities | | |
| Payable for investments purchased | $11,327,518 | |
| Payable for fund shares redeemed | 1,699,178 | |
| Accrued management fee | 565,677 | |
| Distribution and service plan fees payable | 124,234 | |
| Total liabilities | | 13,716,607 |
| Net Assets | | $942,454,001 |
| Net Assets consist of: | | |
| Paid in capital | | $716,897,346 |
| Total accumulated earnings (loss) | | 225,556,655 |
| Net Assets | | $942,454,001 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($299,926,611 ÷ 19,415,986 shares)(a) | | $15.45 |
| Maximum offering price per share (100/94.25 of $15.45) | | $16.39 |
| Class M: | | |
| Net Asset Value and redemption price per share ($115,868,615 ÷ 7,563,389 shares)(a) | | $15.32 |
| Maximum offering price per share (100/96.50 of $15.32) | | $15.88 |
| Class C: | | |
| Net Asset Value and offering price per share ($16,677,366 ÷ 1,099,846 shares)(a) | | $15.16 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($432,056,896 ÷ 27,814,142 shares) | | $15.53 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($16,622,636 ÷ 1,079,192 shares) | | $15.40 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($61,301,877 ÷ 3,952,587 shares) | | $15.51 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $12,854,846 |
| Interest | | 1,447 |
| Income from Fidelity Central Funds | | 1,599 |
| Total income | | 12,857,892 |
| Expenses | | |
| Management fee | $5,776,971 | |
| Distribution and service plan fees | 1,293,055 | |
| Independent trustees' fees and expenses | 2,200 | |
| Total expenses before reductions | 7,072,226 | |
| Expense reductions | (206) | |
| Total expenses after reductions | | 7,072,020 |
| Net investment income (loss) | | 5,785,872 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | 4 | |
| Fidelity Central Funds | (171) | |
| Other affiliated issuers | 5,908,913 | |
| Futures contracts | (591,562) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 45,024,543 | |
| Total net realized gain (loss) | | 50,341,727 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (684) | |
| Fidelity Central Funds | (82) | |
| Other affiliated issuers | 274,996,377 | |
| Futures contracts | (58,047) | |
| Total change in net unrealized appreciation (depreciation) | | 274,937,564 |
| Net gain (loss) | | 325,279,291 |
| Net increase (decrease) in net assets resulting from operations | | $331,065,163 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $5,785,872 | $9,029,338 |
| Net realized gain (loss) | 50,341,727 | 31,945,278 |
| Change in net unrealized appreciation (depreciation) | 274,937,564 | (106,103,640) |
| Net increase (decrease) in net assets resulting from operations | 331,065,163 | (65,129,024) |
| Distributions to shareholders | (41,079,048) | (44,853,483) |
| Share transactions - net increase (decrease) | 68,800,212 | 64,611,189 |
| Total increase (decrease) in net assets | 358,786,327 | (45,371,318) |
| Net Assets | | |
| Beginning of period | 583,667,674 | 629,038,992 |
| End of period | $942,454,001 | $583,667,674 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Advisor Freedom 2055 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.53 | $12.58 | $13.37 | $12.19 | $11.02 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .08 | .15 | .18 | .11 | .14 |
| Net realized and unrealized gain (loss) | 5.55 | (1.36) | .15 | 1.51 | 1.51 |
| Total from investment operations | 5.63 | (1.21) | .33 | 1.62 | 1.65 |
| Distributions from net investment income | (.11) | (.15) | (.19) | (.13) | (.14) |
| Distributions from net realized gain | (.59) | (.69) | (.93) | (.32) | (.34) |
| Total distributions | (.71)B | (.84) | (1.12) | (.44)B | (.48) |
| Net asset value, end of period | $15.45 | $10.53 | $12.58 | $13.37 | $12.19 |
| Total ReturnC,D | 55.31% | (10.57)% | 3.08% | 13.40% | 15.49% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | 1.00% | 1.00% | .99%G | .88% | .25% |
| Expenses net of fee waivers, if any | 1.00% | 1.00% | .99%G | .88% | .25% |
| Expenses net of all reductions | 1.00% | 1.00% | .99%G | .88% | .25% |
| Net investment income (loss) | .63% | 1.23% | 1.41% | .81% | 1.24% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $299,927 | $196,016 | $212,428 | $209,824 | $170,352 |
| Portfolio turnover rateH | 23% | 35% | 27% | 18% | 24% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2055 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.46 | $12.51 | $13.31 | $12.14 | $10.98 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .05 | .12 | .15 | .07 | .11 |
| Net realized and unrealized gain (loss) | 5.50 | (1.36) | .15 | 1.52 | 1.51 |
| Total from investment operations | 5.55 | (1.24) | .30 | 1.59 | 1.62 |
| Distributions from net investment income | (.09) | (.13) | (.18) | (.11) | (.12) |
| Distributions from net realized gain | (.59) | (.68) | (.93) | (.31) | (.34) |
| Total distributions | (.69)B | (.81) | (1.10)B | (.42) | (.46) |
| Net asset value, end of period | $15.32 | $10.46 | $12.51 | $13.31 | $12.14 |
| Total ReturnC,D | 54.88% | (10.83)% | 2.86% | 13.15% | 15.27% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | 1.25% | 1.25% | 1.25% | 1.14% | .50% |
| Expenses net of fee waivers, if any | 1.25% | 1.25% | 1.25% | 1.14% | .50% |
| Expenses net of all reductions | 1.25% | 1.25% | 1.25% | 1.14% | .50% |
| Net investment income (loss) | .38% | .98% | 1.16% | .56% | .99% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $115,869 | $74,904 | $83,858 | $73,101 | $58,052 |
| Portfolio turnover rateG | 23% | 35% | 27% | 18% | 24% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2055 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.38 | $12.44 | $13.26 | $12.11 | $10.98 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | (.02) | .06 | .08 | .01 | .06 |
| Net realized and unrealized gain (loss) | 5.44 | (1.36) | .16 | 1.51 | 1.49 |
| Total from investment operations | 5.42 | (1.30) | .24 | 1.52 | 1.55 |
| Distributions from net investment income | (.05) | (.09) | (.13) | (.06) | (.08) |
| Distributions from net realized gain | (.59) | (.68) | (.93) | (.31) | (.34) |
| Total distributions | (.64) | (.76)B | (1.06) | (.37) | (.42) |
| Net asset value, end of period | $15.16 | $10.38 | $12.44 | $13.26 | $12.11 |
| Total ReturnC,D | 54.07% | (11.29)% | 2.32% | 12.62% | 14.62% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | 1.75% | 1.75% | 1.74%G | 1.64% | 1.00% |
| Expenses net of fee waivers, if any | 1.75% | 1.75% | 1.74%G | 1.64% | 1.00% |
| Expenses net of all reductions | 1.75% | 1.75% | 1.74%G | 1.64% | 1.00% |
| Net investment income (loss) | (.12)% | .48% | .66% | .05% | .49% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $16,677 | $9,928 | $10,991 | $10,685 | $8,529 |
| Portfolio turnover rateH | 23% | 35% | 27% | 18% | 24% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Total returns do not include the effect of the contingent deferred sales charge.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2055 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.57 | $12.64 | $13.43 | $12.24 | $11.06 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .12 | .19 | .21 | .14 | .17 |
| Net realized and unrealized gain (loss) | 5.57 | (1.39) | .15 | 1.53 | 1.51 |
| Total from investment operations | 5.69 | (1.20) | .36 | 1.67 | 1.68 |
| Distributions from net investment income | (.14) | (.18) | (.22) | (.16) | (.16) |
| Distributions from net realized gain | (.59) | (.70) | (.93) | (.32) | (.34) |
| Total distributions | (.73) | (.87)B | (1.15) | (.48) | (.50) |
| Net asset value, end of period | $15.53 | $10.57 | $12.64 | $13.43 | $12.24 |
| Total ReturnC | 55.72% | (10.45)% | 3.34% | 13.74% | 15.81% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .75% | .75% | .75% | .64% | - %F |
| Expenses net of fee waivers, if any | .75% | .75% | .75% | .64% | -% |
| Expenses net of all reductions | .75% | .75% | .75% | .64% | -% |
| Net investment income (loss) | .88% | 1.48% | 1.66% | 1.05% | 1.49% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $432,057 | $273,147 | $308,366 | $249,432 | $165,720 |
| Portfolio turnover rateG | 23% | 35% | 27% | 18% | 24% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount represents less than .005%.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2055 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $10.50 | $12.58 | $13.57 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .20 | .38 |
| Net realized and unrealized gain (loss) | 5.53 | (1.36) | (.65) |
| Total from investment operations | 5.66 | (1.16) | (.27) |
| Distributions from net investment income | (.17) | (.20) | (.28) |
| Distributions from net realized gain | (.59) | (.71) | (.43) |
| Total distributions | (.76) | (.92)C | (.72)C |
| Net asset value, end of period | $15.40 | $10.50 | $12.58 |
| Total ReturnD,E | 55.82% | (10.28)% | (1.35)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .64% | .65%H | .65%H,I |
| Expenses net of fee waivers, if any | .64% | .65%H | .65%H,I |
| Expenses net of all reductions | .64% | .65%H | .65%H,I |
| Net investment income (loss) | .99% | 1.58% | 6.29%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $16,623 | $5,767 | $428 |
| Portfolio turnover rateJ | 23% | 35% | 27% |
A For the period October 2, 2018 (commencement of sale of shares) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2055 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $10.55 | $12.62 | $13.42 | $12.63 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .15 | .22 | .24 | .47 |
| Net realized and unrealized gain (loss) | 5.57 | (1.38) | .15 | .69 |
| Total from investment operations | 5.72 | (1.16) | .39 | 1.16 |
| Distributions from net investment income | (.17) | (.21) | (.26) | (.19) |
| Distributions from net realized gain | (.59) | (.71) | (.93) | (.18) |
| Total distributions | (.76) | (.91)C | (1.19) | (.37) |
| Net asset value, end of period | $15.51 | $10.55 | $12.62 | $13.42 |
| Total ReturnD,E | 56.14% | (10.22)% | 3.59% | 9.16% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .49% | .49% | .50%H | .50%H,I |
| Expenses net of fee waivers, if any | .49% | .49% | .50%H | .50%H,I |
| Expenses net of all reductions | .49% | .49% | .50%H | .50%H,I |
| Net investment income (loss) | 1.14% | 1.73% | 1.91% | 4.26%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $61,302 | $23,906 | $12,968 | $3,116 |
| Portfolio turnover rateJ | 23% | 35% | 27% | 18% |
A For the period June 6, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2060 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Large Cap Stock Fund | 9.8 |
| Fidelity Series Overseas Fund | 6.8 |
| Fidelity Series International Growth Fund | 6.8 |
| Fidelity Series International Value Fund | 6.8 |
| Fidelity Series Value Discovery Fund | 6.4 |
| Fidelity Advisor Series Equity Growth Fund | 6.3 |
| Fidelity Series Stock Selector Large Cap Value Fund | 6.2 |
| Fidelity Series Opportunistic Insights Fund | 5.8 |
| Fidelity Advisor Series Growth Opportunities Fund | 4.4 |
| | 73.6 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
| | Short-Term Investments | 0.1% |
| | Net Other Assets (Liabilities)* | (0.1)% |
* Net Other Assets (Liabilities) are not included in the pie chart
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Advisor Freedom® 2060 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| U.S. Treasury Obligations - 0.1% | | | |
| | | Principal Amount | Value |
| U.S. Treasury Bills, yield at date of purchase 0.02% to 0.08% 4/1/21 to 6/17/21 | | | |
| (Cost $139,998) | | 140,000 | 139,999 |
| | | Shares | Value |
|
| Domestic Equity Funds - 51.8% | | | |
| Fidelity Advisor Series Equity Growth Fund (a) | | 1,326,708 | $22,089,691 |
| Fidelity Advisor Series Growth Opportunities Fund (a) | | 910,562 | 15,361,183 |
| Fidelity Advisor Series Small Cap Fund (a) | | 654,953 | 9,994,581 |
| Fidelity Series All-Sector Equity Fund (a) | | 805,210 | 9,445,114 |
| Fidelity Series Commodity Strategy Fund (a) | | 1,980,274 | 9,703,345 |
| Fidelity Series Large Cap Stock Fund (a) | | 1,869,891 | 34,499,487 |
| Fidelity Series Large Cap Value Index Fund (a) | | 253,472 | 3,723,505 |
| Fidelity Series Opportunistic Insights Fund (a) | | 1,007,418 | 20,480,805 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 696,175 | 12,336,220 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 1,531,148 | 21,849,485 |
| Fidelity Series Value Discovery Fund (a) | | 1,404,948 | 22,366,767 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $149,847,710) | | | 181,850,183 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 664,579 | 8,486,679 |
| Fidelity Series Emerging Markets Fund (a) | | 475,722 | 5,561,186 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 1,954,207 | 50,144,949 |
| Fidelity Series International Growth Fund (a) | | 1,325,561 | 23,780,561 |
| Fidelity Series International Small Cap Fund (a) | | 360,671 | 7,473,111 |
| Fidelity Series International Value Fund (a) | | 2,191,746 | 23,780,441 |
| Fidelity Series Overseas Fund (a) | | 1,888,957 | 23,819,753 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $114,904,302) | | | 143,046,680 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 209,094 | 1,898,578 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 62,125 | 622,495 |
| Fidelity Series Floating Rate High Income Fund (a) | | 39,816 | 365,913 |
| Fidelity Series High Income Fund (a) | | 233,127 | 2,186,733 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 649,063 | 6,970,932 |
| Fidelity Series International Credit Fund (a) | | 3,692 | 36,850 |
| Fidelity Series Investment Grade Bond Fund (a) | | 13,598 | 156,789 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 1,210,079 | 9,559,622 |
| Fidelity Series Real Estate Income Fund (a) | | 120,729 | 1,334,059 |
| TOTAL BOND FUNDS | | | |
| (Cost $24,012,896) | | | 23,131,971 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 126,162 | 126,187 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 2,314,531 | 2,314,531 |
| Fidelity Series Short-Term Credit Fund (a) | | 47,916 | 487,301 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $2,916,779) | | | 2,928,019 |
| TOTAL INVESTMENT IN SECURITIES - 100.1% | | | |
| (Cost $291,821,685) | | | 351,096,852 |
| NET OTHER ASSETS (LIABILITIES) - (0.1)% | | | (217,440) |
| NET ASSETS - 100% | | | $350,879,412 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $474 |
| Total | $474 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Advisor Series Equity Growth Fund | $11,321,317 | $10,622,507 | $4,250,770 | $3,982,214 | $230,823 | $4,165,814 | $22,089,691 |
| Fidelity Advisor Series Growth Opportunities Fund | 7,305,630 | 7,993,080 | 4,192,330 | 3,351,569 | 345,118 | 3,909,685 | 15,361,183 |
| Fidelity Advisor Series Small Cap Fund | 4,827,166 | 2,767,085 | 2,031,669 | 291,672 | 80,239 | 4,351,760 | 9,994,581 |
| Fidelity Series All-Sector Equity Fund | 4,968,557 | 3,207,705 | 1,385,619 | 983,316 | (47,881) | 2,702,352 | 9,445,114 |
| Fidelity Series Canada Fund | 3,708,429 | 2,859,728 | 702,988 | 147,281 | (14,096) | 2,635,606 | 8,486,679 |
| Fidelity Series Commodity Strategy Fund | 6,216,251 | 4,033,470 | 2,547,112 | 31,269 | (308,582) | 2,309,318 | 9,703,345 |
| Fidelity Series Emerging Markets Debt Fund | 1,172,125 | 756,151 | 178,810 | 75,021 | (716) | 149,828 | 1,898,578 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 660,661 | 29,330 | 8,239 | 184 | (9,020) | 622,495 |
| Fidelity Series Emerging Markets Fund | 2,196,379 | 2,183,167 | 692,264 | 67,553 | 18,748 | 1,855,156 | 5,561,186 |
| Fidelity Series Emerging Markets Opportunities Fund | 20,506,511 | 18,393,666 | 5,512,244 | 1,305,144 | 205,675 | 16,551,341 | 50,144,949 |
| Fidelity Series Floating Rate High Income Fund | 253,138 | 120,328 | 47,338 | 14,059 | (204) | 39,989 | 365,913 |
| Fidelity Series Government Money Market Fund 0.08% | 5,554,313 | 4,522,853 | 7,762,635 | 6,469 | -- | -- | 2,314,531 |
| Fidelity Series High Income Fund | 1,430,114 | 757,519 | 215,045 | 101,005 | 588 | 213,557 | 2,186,733 |
| Fidelity Series Inflation-Protected Bond Index Fund | 3,980,302 | 3,559,528 | 856,493 | 77,987 | 1,416 | 286,179 | 6,970,932 |
| Fidelity Series International Credit Fund | 32,917 | 2,531 | -- | 2,531 | -- | 1,402 | 36,850 |
| Fidelity Series International Growth Fund | 15,539,738 | 10,163,673 | 5,605,933 | 3,007,672 | (25,672) | 3,708,755 | 23,780,561 |
| Fidelity Series International Small Cap Fund | 3,716,187 | 1,942,901 | 470,896 | 53,695 | 31,682 | 2,253,237 | 7,473,111 |
| Fidelity Series International Value Fund | 13,958,416 | 6,339,361 | 4,446,757 | 596,269 | 48,362 | 7,881,059 | 23,780,441 |
| Fidelity Series Investment Grade Bond Fund | -- | 168,661 | 7,440 | 1,096 | (10) | (4,422) | 156,789 |
| Fidelity Series Large Cap Stock Fund | 18,416,531 | 10,844,820 | 6,356,521 | 1,541,371 | 55,520 | 11,539,137 | 34,499,487 |
| Fidelity Series Large Cap Value Index Fund | 1,917,689 | 1,152,045 | 564,630 | 70,288 | 10,302 | 1,208,099 | 3,723,505 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 4,543,154 | 7,977,819 | 879,024 | 735,113 | 20,836 | (2,103,163) | 9,559,622 |
| Fidelity Series Opportunistic Insights Fund | 10,707,192 | 9,655,881 | 3,703,020 | 2,600,253 | 171,517 | 3,649,235 | 20,480,805 |
| Fidelity Series Overseas Fund | 12,942,340 | 7,224,432 | 2,985,856 | 233,214 | 4,504 | 6,634,333 | 23,819,753 |
| Fidelity Series Real Estate Income Fund | 796,485 | 427,752 | 173,561 | 68,066 | (2,156) | 285,539 | 1,334,059 |
| Fidelity Series Short-Term Credit Fund | 409,257 | 312,820 | 246,575 | 10,763 | (798) | 12,597 | 487,301 |
| Fidelity Series Small Cap Opportunities Fund | 6,102,355 | 3,447,325 | 2,396,266 | 225,202 | 61,444 | 5,121,362 | 12,336,220 |
| Fidelity Series Stock Selector Large Cap Value Fund | 11,382,253 | 6,486,861 | 3,881,142 | 432,500 | 73,491 | 7,788,022 | 21,849,485 |
| Fidelity Series Value Discovery Fund | 11,746,321 | 6,193,328 | 3,677,810 | 430,864 | 92,389 | 8,012,539 | 22,366,767 |
| | $185,651,067 | $134,777,658 | $65,800,078 | $20,451,695 | $1,052,723 | $95,149,296 | $350,830,666 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Other Short-Term Investments and Net Other Assets | $139,999 | $-- | $139,999 | $-- |
| Domestic Equity Funds | 181,850,183 | 181,850,183 | -- | -- |
| International Equity Funds | 143,046,680 | 143,046,680 | -- | -- |
| Bond Funds | 23,131,971 | 23,131,971 | -- | -- |
| Short-Term Funds | 2,928,019 | 2,928,019 | -- | -- |
| Total Investments in Securities: | $351,096,852 | $350,956,853 | $139,999 | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2060 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $139,998) | $139,999 | |
| Fidelity Central Funds (cost $126,187) | 126,187 | |
| Other affiliated issuers (cost $291,555,500) | 350,830,666 | |
| Total Investment in Securities (cost $291,821,685) | | $351,096,852 |
| Cash | | 29,734 |
| Receivable for investments sold | | 3,956,264 |
| Receivable for fund shares sold | | 718,633 |
| Distributions receivable from Fidelity Central Funds | | 8 |
| Receivable for daily variation margin on futures contracts | | 4,408 |
| Total assets | | 355,805,899 |
| Liabilities | | |
| Payable for investments purchased | $4,418,466 | |
| Payable for fund shares redeemed | 252,869 | |
| Accrued management fee | 208,916 | |
| Distribution and service plan fees payable | 46,236 | |
| Total liabilities | | 4,926,487 |
| Net Assets | | $350,879,412 |
| Net Assets consist of: | | |
| Paid in capital | | $280,326,037 |
| Total accumulated earnings (loss) | | 70,553,375 |
| Net Assets | | $350,879,412 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($113,936,260 ÷ 8,129,951 shares)(a) | | $14.01 |
| Maximum offering price per share (100/94.25 of $14.01) | | $14.86 |
| Class M: | | |
| Net Asset Value and redemption price per share ($41,641,825 ÷ 2,981,022 shares)(a) | | $13.97 |
| Maximum offering price per share (100/96.50 of $13.97) | | $14.48 |
| Class C: | | |
| Net Asset Value and offering price per share ($6,948,306 ÷ 499,268 shares)(a) | | $13.92 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($160,414,857 ÷ 11,385,937 shares) | | $14.09 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($5,789,992 ÷ 413,623 shares) | | $14.00 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($22,148,172 ÷ 1,573,034 shares) | | $14.08 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $4,526,517 |
| Interest | | 487 |
| Income from Fidelity Central Funds | | 474 |
| Total income | | 4,527,478 |
| Expenses | | |
| Management fee | $2,019,930 | |
| Distribution and service plan fees | 455,557 | |
| Independent trustees' fees and expenses | 754 | |
| Total expenses before reductions | 2,476,241 | |
| Expense reductions | (97) | |
| Total expenses after reductions | | 2,476,144 |
| Net investment income (loss) | | 2,051,334 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | 31 | |
| Fidelity Central Funds | (55) | |
| Other affiliated issuers | 1,066,203 | |
| Futures contracts | (222,603) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 15,925,178 | |
| Total net realized gain (loss) | | 16,768,754 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | (214) | |
| Fidelity Central Funds | (25) | |
| Other affiliated issuers | 95,149,296 | |
| Futures contracts | (24,988) | |
| Total change in net unrealized appreciation (depreciation) | | 95,124,069 |
| Net gain (loss) | | 111,892,823 |
| Net increase (decrease) in net assets resulting from operations | | $113,944,157 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $2,051,334 | $2,519,151 |
| Net realized gain (loss) | 16,768,754 | 8,617,852 |
| Change in net unrealized appreciation (depreciation) | 95,124,069 | (34,949,643) |
| Net increase (decrease) in net assets resulting from operations | 113,944,157 | (23,812,640) |
| Distributions to shareholders | (12,480,436) | (11,164,327) |
| Share transactions - net increase (decrease) | 62,757,239 | 71,887,699 |
| Total increase (decrease) in net assets | 164,220,960 | 36,910,732 |
| Net Assets | | |
| Beginning of period | 186,658,452 | 149,747,720 |
| End of period | $350,879,412 | $186,658,452 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Advisor Freedom 2060 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $9.49 | $11.31 | $11.86 | $10.76 | $9.62 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .08 | .14 | .17 | .10 | .13 |
| Net realized and unrealized gain (loss) | 5.01 | (1.24) | .13 | 1.34 | 1.33 |
| Total from investment operations | 5.09 | (1.10) | .30 | 1.44 | 1.46 |
| Distributions from net investment income | (.11) | (.14) | (.17) | (.11) | (.12) |
| Distributions from net realized gain | (.46) | (.58) | (.68) | (.23) | (.20) |
| Total distributions | (.57) | (.72) | (.85) | (.34) | (.32) |
| Net asset value, end of period | $14.01 | $9.49 | $11.31 | $11.86 | $10.76 |
| Total ReturnB,C | 55.28% | (10.65)% | 3.09% | 13.44% | 15.55% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | 1.00% | 1.00% | 1.00% | .91% | .25% |
| Expenses net of fee waivers, if any | 1.00% | 1.00% | 1.00% | .91% | .25% |
| Expenses net of all reductions | 1.00% | 1.00% | 1.00% | .91% | .25% |
| Net investment income (loss) | .65% | 1.25% | 1.48% | .84% | 1.30% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $113,936 | $65,792 | $55,732 | $37,880 | $18,482 |
| Portfolio turnover rateF | 24% | 31% | 27% | 16% | 32% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Total returns do not include the effect of the sales charges.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2060 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $9.47 | $11.29 | $11.85 | $10.77 | $9.63 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .05 | .11 | .14 | .07 | .11 |
| Net realized and unrealized gain (loss) | 5.00 | (1.23) | .14 | 1.33 | 1.33 |
| Total from investment operations | 5.05 | (1.12) | .28 | 1.40 | 1.44 |
| Distributions from net investment income | (.09) | (.12) | (.16) | (.10) | (.10) |
| Distributions from net realized gain | (.46) | (.58) | (.68) | (.22) | (.20) |
| Total distributions | (.55) | (.70) | (.84) | (.32) | (.30) |
| Net asset value, end of period | $13.97 | $9.47 | $11.29 | $11.85 | $10.77 |
| Total ReturnB,C | 55.00% | (10.87)% | 2.82% | 13.04% | 15.29% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | 1.25% | 1.25% | 1.25% | 1.16% | .50% |
| Expenses net of fee waivers, if any | 1.25% | 1.25% | 1.25% | 1.16% | .50% |
| Expenses net of all reductions | 1.25% | 1.25% | 1.25% | 1.16% | .50% |
| Net investment income (loss) | .40% | 1.00% | 1.23% | .59% | 1.05% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $41,642 | $21,680 | $19,070 | $12,628 | $5,719 |
| Portfolio turnover rateF | 24% | 31% | 27% | 16% | 32% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Total returns do not include the effect of the sales charges.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2060 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $9.46 | $11.29 | $11.87 | $10.81 | $9.68 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | (.01) | .06 | .08 | .01 | .06 |
| Net realized and unrealized gain (loss) | 4.98 | (1.24) | .14 | 1.34 | 1.33 |
| Total from investment operations | 4.97 | (1.18) | .22 | 1.35 | 1.39 |
| Distributions from net investment income | (.05) | (.08) | (.12) | (.07) | (.06) |
| Distributions from net realized gain | (.46) | (.57) | (.68) | (.22) | (.20) |
| Total distributions | (.51) | (.65) | (.80) | (.29) | (.26) |
| Net asset value, end of period | $13.92 | $9.46 | $11.29 | $11.87 | $10.81 |
| Total ReturnB,C | 54.14% | (11.27)% | 2.33% | 12.53% | 14.65% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | 1.75% | 1.75% | 1.75% | 1.66% | 1.00% |
| Expenses net of fee waivers, if any | 1.75% | 1.75% | 1.75% | 1.66% | 1.00% |
| Expenses net of all reductions | 1.75% | 1.75% | 1.75% | 1.66% | 1.00% |
| Net investment income (loss) | (.10)% | .50% | .72% | .09% | .55% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $6,948 | $4,022 | $3,723 | $2,604 | $1,209 |
| Portfolio turnover rateF | 24% | 31% | 27% | 16% | 32% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Total returns do not include the effect of the contingent deferred sales charge.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2060 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $9.54 | $11.36 | $11.90 | $10.80 | $9.65 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .11 | .17 | .20 | .13 | .16 |
| Net realized and unrealized gain (loss) | 5.03 | (1.24) | .13 | 1.33 | 1.33 |
| Total from investment operations | 5.14 | (1.07) | .33 | 1.46 | 1.49 |
| Distributions from net investment income | (.13) | (.16) | (.20) | (.13) | (.13) |
| Distributions from net realized gain | (.47) | (.59) | (.68) | (.23) | (.20) |
| Total distributions | (.59)B | (.75) | (.87)B | (.36) | (.34)B |
| Net asset value, end of period | $14.09 | $9.54 | $11.36 | $11.90 | $10.80 |
| Total ReturnC | 55.62% | (10.38)% | 3.38% | 13.63% | 15.82% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .75% | .75% | .75% | .66% | - %F |
| Expenses net of fee waivers, if any | .75% | .75% | .75% | .66% | -% |
| Expenses net of all reductions | .75% | .75% | .75% | .66% | -% |
| Net investment income (loss) | .90% | 1.50% | 1.73% | 1.09% | 1.55% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $160,415 | $87,182 | $68,445 | $43,513 | $18,162 |
| Portfolio turnover rateG | 24% | 31% | 27% | 16% | 32% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount represents less than .005%.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2060 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.49 | $11.32 | $12.10 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .18 | .23 |
| Net realized and unrealized gain (loss) | 5.02 | (1.23) | (.46) |
| Total from investment operations | 5.14 | (1.05) | (.23) |
| Distributions from net investment income | (.16) | (.18) | (.24) |
| Distributions from net realized gain | (.47) | (.60) | (.31) |
| Total distributions | (.63) | (.78) | (.55) |
| Net asset value, end of period | $14.00 | $9.49 | $11.32 |
| Total ReturnC,D | 55.88% | (10.32)% | (1.34)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .65%G | .65%G | .64%G,H |
| Expenses net of fee waivers, if any | .65%G | .65%G | .64%G,H |
| Expenses net of all reductions | .65%G | .65%G | .64%G,H |
| Net investment income (loss) | 1.00% | 1.60% | 4.28%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $5,790 | $1,514 | $284 |
| Portfolio turnover rateI | 24% | 31% | 27% |
A For the period October 2, 2018 (commencement of sale of shares) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2060 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $9.53 | $11.36 | $11.90 | $11.16 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .14 | .20 | .23 | .33 |
| Net realized and unrealized gain (loss) | 5.04 | (1.25) | .13 | .69 |
| Total from investment operations | 5.18 | (1.05) | .36 | 1.02 |
| Distributions from net investment income | (.15) | (.19) | (.22) | (.16) |
| Distributions from net realized gain | (.48) | (.60) | (.68) | (.13) |
| Total distributions | (.63) | (.78)C | (.90) | (.28)C |
| Net asset value, end of period | $14.08 | $9.53 | $11.36 | $11.90 |
| Total ReturnD,E | 56.12% | (10.24)% | 3.63% | 9.14% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | .49% | .50%H | .50%H | .50%H,I |
| Expenses net of fee waivers, if any | .49% | .50%H | .50%H | .50%H,I |
| Expenses net of all reductions | .49% | .50%H | .50%H | .50%H,I |
| Net investment income (loss) | 1.15% | 1.75% | 1.98% | 3.41%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $22,148 | $6,468 | $2,493 | $802 |
| Portfolio turnover rateJ | 24% | 31% | 27% | 16% |
A For the period June 6, 2017 (commencement of sale of shares) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2065 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Large Cap Stock Fund | 9.8 |
| Fidelity Series Overseas Fund | 6.8 |
| Fidelity Series International Growth Fund | 6.8 |
| Fidelity Series International Value Fund | 6.8 |
| Fidelity Series Value Discovery Fund | 6.4 |
| Fidelity Advisor Series Equity Growth Fund | 6.3 |
| Fidelity Series Stock Selector Large Cap Value Fund | 6.2 |
| Fidelity Series Opportunistic Insights Fund | 5.8 |
| Fidelity Advisor Series Growth Opportunities Fund | 4.4 |
| | 73.6 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.7% |
| | Short-Term Funds | 0.8% |
| | Net Other Assets (Liabilities)* | (0.1)% |
* Net Other Assets (Liabilities) are not included in the pie chart
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Advisor Freedom® 2065 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 51.8% | | | |
| | | Shares | Value |
| Fidelity Advisor Series Equity Growth Fund (a) | | 98,775 | $1,644,596 |
| Fidelity Advisor Series Growth Opportunities Fund (a) | | 67,799 | 1,143,777 |
| Fidelity Advisor Series Small Cap Fund (a) | | 48,754 | 743,991 |
| Fidelity Series All-Sector Equity Fund (a) | | 59,944 | 703,138 |
| Fidelity Series Commodity Strategy Fund (a) | | 147,812 | 724,277 |
| Fidelity Series Large Cap Stock Fund (a) | | 139,214 | 2,568,501 |
| Fidelity Series Large Cap Value Index Fund (a) | | 18,871 | 277,216 |
| Fidelity Series Opportunistic Insights Fund (a) | | 75,003 | 1,524,816 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 51,815 | 918,165 |
| Fidelity Series Stock Selector Large Cap Value Fund (a) | | 114,001 | 1,626,789 |
| Fidelity Series Value Discovery Fund (a) | | 104,604 | 1,665,291 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $11,824,178) | | | 13,540,557 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 49,471 | 631,747 |
| Fidelity Series Emerging Markets Fund (a) | | 35,508 | 415,086 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 145,521 | 3,734,073 |
| Fidelity Series International Growth Fund (a) | | 98,679 | 1,770,301 |
| Fidelity Series International Small Cap Fund (a) | | 27,058 | 560,643 |
| Fidelity Series International Value Fund (a) | | 162,983 | 1,768,366 |
| Fidelity Series Overseas Fund (a) | | 140,605 | 1,773,028 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $9,355,009) | | | 10,653,244 |
|
| Bond Funds - 6.7% | | | |
| Fidelity Series Emerging Markets Debt Fund (a) | | 15,684 | 142,410 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 4,734 | 47,430 |
| Fidelity Series Floating Rate High Income Fund (a) | | 3,061 | 28,127 |
| Fidelity Series High Income Fund (a) | | 17,585 | 164,950 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 48,559 | 521,521 |
| Fidelity Series International Credit Fund (a) | | 524 | 5,232 |
| Fidelity Series Investment Grade Bond Fund (a) | | 1,073 | 12,375 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 90,335 | 713,643 |
| Fidelity Series Real Estate Income Fund (a) | | 8,987 | 99,307 |
| TOTAL BOND FUNDS | | | |
| (Cost $1,806,330) | | | 1,734,995 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 172,299 | 172,299 |
| Fidelity Series Short-Term Credit Fund (a) | | 3,567 | 36,275 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $208,449) | | | 208,574 |
| TOTAL INVESTMENT IN SECURITIES - 100.1% | | | |
| (Cost $23,193,966) | | | 26,137,370 |
| NET OTHER ASSETS (LIABILITIES) - (0.1)% | | | (16,421) |
| NET ASSETS - 100% | | | $26,120,949 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Advisor Series Equity Growth Fund | $339,223 | $1,389,097 | $205,652 | $208,283 | $(6,594) | $128,522 | $1,644,596 |
| Fidelity Advisor Series Growth Opportunities Fund | 223,605 | 992,326 | 201,404 | 168,619 | (662) | 129,912 | 1,143,777 |
| Fidelity Advisor Series Small Cap Fund | 159,728 | 491,702 | 109,525 | 14,284 | (2,187) | 204,273 | 743,991 |
| Fidelity Series All-Sector Equity Fund | 154,360 | 530,201 | 84,059 | 55,263 | (458) | 103,094 | 703,138 |
| Fidelity Series Canada Fund | 126,311 | 453,559 | 71,488 | 7,522 | (4,267) | 127,632 | 631,747 |
| Fidelity Series Commodity Strategy Fund | 201,905 | 558,499 | 125,244 | 1,352 | (3,734) | 92,851 | 724,277 |
| Fidelity Series Emerging Markets Debt Fund | 38,924 | 125,153 | 25,638 | 3,600 | (997) | 4,968 | 142,410 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 51,752 | 3,242 | 464 | (31) | (1,049) | 47,430 |
| Fidelity Series Emerging Markets Fund | 72,011 | 312,921 | 47,265 | 3,446 | (1,545) | 78,964 | 415,086 |
| Fidelity Series Emerging Markets Opportunities Fund | 666,838 | 2,761,055 | 371,496 | 65,620 | (12,608) | 690,284 | 3,734,073 |
| Fidelity Series Floating Rate High Income Fund | 9,197 | 27,921 | 10,810 | 727 | (90) | 1,909 | 28,127 |
| Fidelity Series Government Money Market Fund 0.08% | 204,105 | 301,681 | 333,487 | 301 | -- | -- | 172,299 |
| Fidelity Series High Income Fund | 45,654 | 133,034 | 21,738 | 4,792 | (183) | 8,183 | 164,950 |
| Fidelity Series Inflation-Protected Bond Index Fund | 125,650 | 439,600 | 54,617 | 3,945 | (49) | 10,937 | 521,521 |
| Fidelity Series International Credit Fund | 2,999 | 2,740 | 594 | 341 | (17) | 104 | 5,232 |
| Fidelity Series International Growth Fund | 492,638 | 1,469,731 | 313,581 | 149,956 | (6,746) | 128,259 | 1,770,301 |
| Fidelity Series International Small Cap Fund | 118,950 | 401,717 | 55,297 | 2,764 | 469 | 94,804 | 560,643 |
| Fidelity Series International Value Fund | 444,926 | 1,248,506 | 277,971 | 29,481 | (7,633) | 360,538 | 1,768,366 |
| Fidelity Series Investment Grade Bond Fund | -- | 18,965 | 6,427 | 59 | (112) | (51) | 12,375 |
| Fidelity Series Large Cap Stock Fund | 586,850 | 1,856,972 | 422,659 | 68,988 | (3,958) | 551,296 | 2,568,501 |
| Fidelity Series Large Cap Value Index Fund | 60,178 | 198,496 | 37,854 | 3,527 | (711) | 57,107 | 277,216 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 143,957 | 764,463 | 81,363 | 35,098 | (5,239) | (108,175) | 713,643 |
| Fidelity Series Opportunistic Insights Fund | 316,634 | 1,295,468 | 198,925 | 141,394 | (2,573) | 114,212 | 1,524,816 |
| Fidelity Series Overseas Fund | 432,031 | 1,327,161 | 258,997 | 11,975 | (8,310) | 281,143 | 1,773,028 |
| Fidelity Series Real Estate Income Fund | 25,680 | 76,576 | 15,558 | 3,181 | (1,143) | 13,752 | 99,307 |
| Fidelity Series Short-Term Credit Fund | 23,791 | 26,276 | 14,411 | 595 | (53) | 672 | 36,275 |
| Fidelity Series Small Cap Opportunities Fund | 200,839 | 639,810 | 155,382 | 10,796 | (1,188) | 234,086 | 918,165 |
| Fidelity Series Stock Selector Large Cap Value Fund | 373,687 | 1,169,692 | 286,330 | 21,832 | (8,056) | 377,796 | 1,626,789 |
| Fidelity Series Value Discovery Fund | 369,715 | 1,175,401 | 254,711 | 21,753 | (2,270) | 377,156 | 1,665,291 |
| | $5,960,386 | $20,240,475 | $4,045,725 | $1,039,958 | $(80,945) | $4,063,179 | $26,137,370 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $13,540,557 | $13,540,557 | $-- | $-- |
| International Equity Funds | 10,653,244 | 10,653,244 | -- | -- |
| Bond Funds | 1,734,995 | 1,734,995 | -- | -- |
| Short-Term Funds | 208,574 | 208,574 | -- | -- |
| Total Investments in Securities: | $26,137,370 | $26,137,370 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom® 2065 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $23,193,966) | $26,137,370 | |
| Total Investment in Securities (cost $23,193,966) | | $26,137,370 |
| Cash | | 199 |
| Receivable for investments sold | | 146,783 |
| Receivable for fund shares sold | | 326,202 |
| Total assets | | 26,610,554 |
| Liabilities | | |
| Payable for investments purchased | $346,583 | |
| Payable for fund shares redeemed | 126,328 | |
| Accrued management fee | 14,060 | |
| Distribution and service plan fees payable | 2,634 | |
| Total liabilities | | 489,605 |
| Net Assets | | $26,120,949 |
| Net Assets consist of: | | |
| Paid in capital | | $22,623,714 |
| Total accumulated earnings (loss) | | 3,497,235 |
| Net Assets | | $26,120,949 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($9,613,057 ÷ 752,506 shares)(a) | | $12.77 |
| Maximum offering price per share (100/94.25 of $12.77) | | $13.55 |
| Class M: | | |
| Net Asset Value and redemption price per share ($1,230,053 ÷ 96,380 shares)(a) | | $12.76 |
| Maximum offering price per share (100/96.50 of $12.76) | | $13.22 |
| Class C: | | |
| Net Asset Value and offering price per share ($433,545 ÷ 34,046 shares)(a) | | $12.73 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($11,782,081 ÷ 919,959 shares) | | $12.81 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($534,991 ÷ 41,681 shares) | | $12.84 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($2,527,222 ÷ 196,669 shares) | | $12.85 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $223,633 |
| Expenses | | |
| Management fee | $94,972 | |
| Distribution and service plan fees | 19,368 | |
| Independent trustees' fees and expenses | 32 | |
| Total expenses | | 114,372 |
| Net investment income (loss) | | 109,261 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Unaffiliated issuers | 4 | |
| Affiliated issuers | (80,945) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 816,325 | |
| Total net realized gain (loss) | | 735,384 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 4,063,179 | |
| Total change in net unrealized appreciation (depreciation) | | 4,063,179 |
| Net gain (loss) | | 4,798,563 |
| Net increase (decrease) in net assets resulting from operations | | $4,907,824 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | For the period
June 28, 2019 (commencement of operations) to March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $109,261 | $32,838 |
| Net realized gain (loss) | 735,384 | 85,456 |
| Change in net unrealized appreciation (depreciation) | 4,063,179 | (1,119,775) |
| Net increase (decrease) in net assets resulting from operations | 4,907,824 | (1,001,481) |
| Distributions to shareholders | (354,944) | (54,165) |
| Share transactions - net increase (decrease) | 15,608,234 | 7,015,481 |
| Total increase (decrease) in net assets | 20,161,114 | 5,959,835 |
| Net Assets | | |
| Beginning of period | 5,959,835 | – |
| End of period | $26,120,949 | $5,959,835 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Advisor Freedom 2065 Fund Class A
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.47 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .08 | .12 |
| Net realized and unrealized gain (loss) | 4.53 | (1.48) |
| Total from investment operations | 4.61 | (1.36) |
| Distributions from net investment income | (.10) | (.13) |
| Distributions from net realized gain | (.21) | (.04) |
| Total distributions | (.31) | (.17) |
| Net asset value, end of period | $12.77 | $8.47 |
| Total ReturnC,D | 55.16% | (13.92)% |
| Ratios to Average Net AssetsE,F | | |
| Expenses before reductions | 1.00% | 1.01%G,H |
| Expenses net of fee waivers, if any | 1.00% | 1.01%G,H |
| Expenses net of all reductions | 1.00% | 1.01%G,H |
| Net investment income (loss) | .71% | 1.60%G |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $9,613 | $1,980 |
| Portfolio turnover rateI | 31% | 33%G |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2065 Fund Class M
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.47 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .05 | .10 |
| Net realized and unrealized gain (loss) | 4.53 | (1.47) |
| Total from investment operations | 4.58 | (1.37) |
| Distributions from net investment income | (.08) | (.11) |
| Distributions from net realized gain | (.20) | (.04) |
| Total distributions | (.29)C | (.16)C |
| Net asset value, end of period | $12.76 | $8.47 |
| Total ReturnD,E | 54.73% | (14.05)% |
| Ratios to Average Net AssetsF,G | | |
| Expenses before reductions | 1.25% | 1.25%H |
| Expenses net of fee waivers, if any | 1.25% | 1.25%H |
| Expenses net of all reductions | 1.25% | 1.25%H |
| Net investment income (loss) | .46% | 1.35%H |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $1,230 | $332 |
| Portfolio turnover rateI | 31% | 33%H |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2065 Fund Class C
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.46 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | –C | .06 |
| Net realized and unrealized gain (loss) | 4.51 | (1.47) |
| Total from investment operations | 4.51 | (1.41) |
| Distributions from net investment income | (.04) | (.09) |
| Distributions from net realized gain | (.20) | (.04) |
| Total distributions | (.24) | (.13) |
| Net asset value, end of period | $12.73 | $8.46 |
| Total ReturnD,E | 53.95% | (14.38)% |
| Ratios to Average Net AssetsF,G | | |
| Expenses before reductions | 1.75% | 1.75%H |
| Expenses net of fee waivers, if any | 1.75% | 1.75%H |
| Expenses net of all reductions | 1.75% | 1.75%H |
| Net investment income (loss) | (.04)% | .86%H |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $434 | $183 |
| Portfolio turnover rateI | 31% | 33%H |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total returns for periods of less than one year are not annualized.
E Total returns do not include the effect of the contingent deferred sales charge.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2065 Fund Class I
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.48 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .11 | .14 |
| Net realized and unrealized gain (loss) | 4.55 | (1.48) |
| Total from investment operations | 4.66 | (1.34) |
| Distributions from net investment income | (.12) | (.14) |
| Distributions from net realized gain | (.21) | (.04) |
| Total distributions | (.33) | (.18) |
| Net asset value, end of period | $12.81 | $8.48 |
| Total ReturnC | 55.68% | (13.78)% |
| Ratios to Average Net AssetsD,E | | |
| Expenses before reductions | .75% | .75%F |
| Expenses net of fee waivers, if any | .75% | .75%F |
| Expenses net of all reductions | .75% | .75%F |
| Net investment income (loss) | .96% | 1.85%F |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $11,782 | $2,383 |
| Portfolio turnover rateG | 31% | 33%F |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2065 Fund Class Z
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.49 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .12 | .15 |
| Net realized and unrealized gain (loss) | 4.56 | (1.48) |
| Total from investment operations | 4.68 | (1.33) |
| Distributions from net investment income | (.12) | (.14) |
| Distributions from net realized gain | (.20) | (.04) |
| Total distributions | (.33)C | (.18) |
| Net asset value, end of period | $12.84 | $8.49 |
| Total ReturnD | 55.80% | (13.68)% |
| Ratios to Average Net AssetsE,F | | |
| Expenses before reductions | .65%G | .64%H |
| Expenses net of fee waivers, if any | .65%G | .64%H |
| Expenses net of all reductions | .65%G | .64%H |
| Net investment income (loss) | 1.07% | 1.96%H |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $535 | $176 |
| Portfolio turnover rateI | 31% | 33%H |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Advisor Freedom 2065 Fund Class Z6
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.50 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .14 | .15 |
| Net realized and unrealized gain (loss) | 4.55 | (1.47) |
| Total from investment operations | 4.69 | (1.32) |
| Distributions from net investment income | (.13) | (.14) |
| Distributions from net realized gain | (.21) | (.04) |
| Total distributions | (.34) | (.18) |
| Net asset value, end of period | $12.85 | $8.50 |
| Total ReturnC | 55.97% | (13.58)% |
| Ratios to Average Net AssetsD,E | | |
| Expenses before reductions | .49% | .50%F,G |
| Expenses net of fee waivers, if any | .49% | .50%F,G |
| Expenses net of all reductions | .49% | .50%F,G |
| Net investment income (loss) | 1.22% | 2.11%F |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $2,527 | $905 |
| Portfolio turnover rateH | 31% | 33%F |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Notes to Financial Statements
For the period ended March 31, 2021
1. Organization.
Fidelity Advisor Freedom Income Fund, Fidelity Advisor Freedom 2005 Fund, Fidelity Advisor Freedom 2010 Fund, Fidelity Advisor Freedom 2015 Fund, Fidelity Advisor Freedom 2020 Fund, Fidelity Advisor Freedom 2025 Fund, Fidelity Advisor Freedom 2030 Fund, Fidelity Advisor Freedom 2035 Fund, Fidelity Advisor Freedom 2040 Fund, Fidelity Advisor Freedom 2045 Fund, Fidelity Advisor Freedom 2050 Fund, Fidelity Advisor Freedom 2055 Fund, Fidelity Advisor Freedom 2060 Fund and Fidelity Advisor Freedom 2065 Fund (the Funds) are funds of Fidelity Aberdeen Street Trust (the Trust). The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware statutory trust. Each Fund is authorized to issue an unlimited number of shares. Each Fund offers Class A, Class M, Class C, Class I, Class Z and Class Z6 shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. Class C shares will automatically convert to Class A shares after a holding period of ten years from the initial date of purchase, with certain exceptions.
2. Investments in Fidelity Central Funds.
The Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Funds' Schedules of Investments list each of the Fidelity Central Funds held as of period end, if any, as an investment of each Fund, but do not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, each Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
The Money Market Central Funds seek preservation of capital and current income and are managed by the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date ranged from less than .005% to .01%.
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds, which are not covered by the Funds' Report of Independent Registered Public Accounting Firm, are available on the SEC website or upon request.
3. Significant Accounting Policies.
Each Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. Each Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of each Fund:
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of each Fund's investments to the Fair Value Committee (the Committee) established by each Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, each Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees each Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing each Fund's investments and ratifies the fair value determinations of the Committee. Each Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
- Level 1 – quoted prices in active markets for identical investments
- Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
- Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value each Fund's investments by major category are as follows. Investments in open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy. Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances. The aggregate value of investments by input level as of March 31, 2021 is included at the end of each Fund's Schedule of Investments.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.
Investment Transactions and Income. For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Income and capital gain distributions from any underlying mutual funds or exchange-traded funds (ETFs) are recorded on the ex-dividend date. Interest income is accrued as earned. Interest income includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.
Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of each Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of each Fund. Each class differs with respect to distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of each Fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds (ETFs). Although not included in each Fund's expenses, each Fund indirectly bears its proportionate share of any underlying mutual funds or exchange-traded funds (ETFs) expenses through the impact of these expenses on each underlying mutual fund's or exchange-traded fund's (ETFs) NAV. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Income Tax Information and Distributions to Shareholders. Each year, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. As of March 31, 2021, each Fund did not have any unrecognized tax benefits in the financial statements; nor is each Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. Each Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
Book-tax differences are primarily due to the short-term gain distributions from the underlying mutual funds or exchange-traded funds (ETFs), futures contracts and losses deferred due to wash sales and excise tax regulations.
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows for each Fund:
| | Tax cost | Gross unrealized appreciation | Gross unrealized depreciation | Net unrealized appreciation (depreciation) |
| Fidelity Advisor Freedom Income Fund | $216,179,217 | $23,458,308 | $(1,049,338) | $22,408,970 |
| Fidelity Advisor Freedom 2005 Fund | 144,391,471 | 18,823,132 | (670,973) | 18,152,159 |
| Fidelity Advisor Freedom 2010 Fund | 321,813,524 | 54,327,160 | (1,453,073) | 52,874,087 |
| Fidelity Advisor Freedom 2015 Fund | 699,224,087 | 150,519,855 | (3,594,922) | 146,924,933 |
| Fidelity Advisor Freedom 2020 Fund | 1,727,914,081 | 405,320,106 | (9,809,200) | 395,510,906 |
| Fidelity Advisor Freedom 2025 Fund | 2,515,332,676 | 629,055,470 | (17,005,425) | 612,050,045 |
| Fidelity Advisor Freedom 2030 Fund | 2,722,978,734 | 754,304,736 | (20,913,712) | 733,391,024 |
| Fidelity Advisor Freedom 2035 Fund | 2,255,561,159 | 738,720,077 | (18,153,309) | 720,566,768 |
| Fidelity Advisor Freedom 2040 Fund | 1,977,788,222 | 727,002,286 | (12,689,476) | 714,312,810 |
| Fidelity Advisor Freedom 2045 Fund | 1,402,698,843 | 469,412,176 | (8,951,479) | 460,460,697 |
| Fidelity Advisor Freedom 2050 Fund | 1,180,299,878 | 384,893,860 | (7,882,759) | 377,011,101 |
| Fidelity Advisor Freedom 2055 Fund | 757,036,057 | 191,796,025 | (5,710,928) | 186,085,097 |
| Fidelity Advisor Freedom 2060 Fund | 293,970,042 | 59,342,584 | (2,215,774) | 57,126,810 |
| Fidelity Advisor Freedom 2065 Fund | 23,329,713 | 3,043,025 | (235,368) | 2,807,657 |
The tax-based components of distributable earnings as of period end were as follows for each Fund:
| | Undistributed ordinary income | Undistributed long-term capital gain | Net unrealized appreciation (depreciation) on securities and other investments |
| Fidelity Advisor Freedom Income Fund | $379,010 | $3,587,172 | $22,408,970 |
| Fidelity Advisor Freedom 2005 Fund | 135,777 | 4,096,692 | 18,152,159 |
| Fidelity Advisor Freedom 2010 Fund | 206,469 | 13,367,706 | 52,874,087 |
| Fidelity Advisor Freedom 2015 Fund | 208,384 | 35,113,225 | 146,924,933 |
| Fidelity Advisor Freedom 2020 Fund | 146,557 | 97,127,564 | 395,510,906 |
| Fidelity Advisor Freedom 2025 Fund | – | 127,076,949 | 612,050,045 |
| Fidelity Advisor Freedom 2030 Fund | – | 146,757,799 | 733,391,024 |
| Fidelity Advisor Freedom 2035 Fund | – | 130,472,344 | 720,566,768 |
| Fidelity Advisor Freedom 2040 Fund | – | 126,053,830 | 714,312,810 |
| Fidelity Advisor Freedom 2045 Fund | – | 84,101,922 | 460,460,697 |
| Fidelity Advisor Freedom 2050 Fund | – | 68,318,876 | 377,011,101 |
| Fidelity Advisor Freedom 2055 Fund | – | 40,546,320 | 186,085,097 |
| Fidelity Advisor Freedom 2060 Fund | 240,017 | 13,581,989 | 57,126,810 |
| Fidelity Advisor Freedom 2065 Fund | 37,544 | 674,326 | 2,807,657 |
Certain of the Funds intend to elect to defer to the next fiscal year ordinary losses recognized during the period January 1, 2021 to March 31, 2021. Loss deferrals were as follows:
| | Ordinary Losses |
| Fidelity Advisor Freedom 2025 Fund | $(189,703) |
| Fidelity Advisor Freedom 2030 Fund | (996,710) |
| Fidelity Advisor Freedom 2035 Fund | (2,328,907) |
| Fidelity Advisor Freedom 2040 Fund | (3,362,119) |
| Fidelity Advisor Freedom 2045 Fund | (2,232,221) |
| Fidelity Advisor Freedom 2050 Fund | (1,453,159) |
| Fidelity Advisor Freedom 2055 Fund | (1,074,763) |
| Fidelity Advisor Freedom 2060 Fund | (395,440) |
| Fidelity Advisor Freedom 2065 Fund | (22,293) |
The tax character of distributions paid was as follows:
| March 31, 2021 | | | |
| | Ordinary Income | Long-term Capital Gains | Total |
| Fidelity Advisor Freedom Income Fund | $4,903,338 | $3,547,237 | $8,450,575 |
| Fidelity Advisor Freedom 2005 Fund | 3,369,244 | 4,917,972 | 8,287,216 |
| Fidelity Advisor Freedom 2010 Fund | 7,507,443 | 15,161,626 | 22,669,069 |
| Fidelity Advisor Freedom 2015 Fund | 16,439,105 | 43,621,022 | 60,060,127 |
| Fidelity Advisor Freedom 2020 Fund | 38,910,146 | 112,065,521 | 150,975,667 |
| Fidelity Advisor Freedom 2025 Fund | 51,432,326 | 135,071,926 | 186,504,252 |
| Fidelity Advisor Freedom 2030 Fund | 56,769,090 | 154,929,170 | 211,698,260 |
| Fidelity Advisor Freedom 2035 Fund | 39,667,243 | 129,573,073 | 169,240,316 |
| Fidelity Advisor Freedom 2040 Fund | 31,324,708 | 116,224,945 | 147,549,653 |
| Fidelity Advisor Freedom 2045 Fund | 22,705,866 | 68,379,974 | 91,085,840 |
| Fidelity Advisor Freedom 2050 Fund | 19,302,645 | 54,990,396 | 74,293,041 |
| Fidelity Advisor Freedom 2055 Fund | 11,788,471 | 29,290,577 | 41,079,048 |
| Fidelity Advisor Freedom 2060 Fund | 4,272,907 | 8,207,529 | 12,480,436 |
| Fidelity Advisor Freedom 2065 Fund | 234,329 | 120,615 | 354,944 |
| March 31, 2020 | | | |
| | Ordinary Income | Long-term Capital Gains | Total |
| Fidelity Advisor Freedom Income Fund | $4,500,118 | $3,621,398 | $8,121,516 |
| Fidelity Advisor Freedom 2005 Fund | 3,261,005 | 4,431,052 | 7,692,057 |
| Fidelity Advisor Freedom 2010 Fund | 8,092,354 | 15,234,999 | 23,327,353 |
| Fidelity Advisor Freedom 2015 Fund | 18,079,246 | 45,391,251 | 63,470,497 |
| Fidelity Advisor Freedom 2020 Fund | 41,590,553 | 108,882,864 | 150,473,417 |
| Fidelity Advisor Freedom 2025 Fund | 53,592,916 | 138,075,197 | 191,668,113 |
| Fidelity Advisor Freedom 2030 Fund | 51,225,553 | 159,433,198 | 210,658,751 |
| Fidelity Advisor Freedom 2035 Fund | 38,802,718 | 143,386,555 | 182,189,273 |
| Fidelity Advisor Freedom 2040 Fund | 34,019,763 | 125,986,324 | 160,006,087 |
| Fidelity Advisor Freedom 2045 Fund | 23,411,851 | 79,458,740 | 102,870,591 |
| Fidelity Advisor Freedom 2050 Fund | 19,260,897 | 63,178,158 | 82,439,055 |
| Fidelity Advisor Freedom 2055 Fund | 11,660,750 | 33,192,733 | 44,853,483 |
| Fidelity Advisor Freedom 2060 Fund | 3,408,752 | 7,755,575 | 11,164,327 |
| Fidelity Advisor Freedom 2065 Fund(a) | 48,847 | 5,318 | 54,165 |
(a) For the period June 28, 2019 (commencement of operations) to March 31, 2020.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Funds' investment objective allows the Funds to enter into various types of derivative contracts, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Funds used derivatives to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Funds may not achieve their objectives.
The Funds' use of derivatives increased or decreased their exposure to the following risk:
| Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
|
The Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Funds will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Funds. Counterparty credit risk related to exchange-traded futures contracts may be mitigated by the protection provided by the exchange on which they trade.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Funds used futures contracts to manage their exposure to the stock market.
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end and is representative of volume of activity during the period.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, are noted in the table below.
| | Purchases ($) | Sales ($) |
| Fidelity Advisor Freedom Income Fund | 73,514,974 | 68,379,501 |
| Fidelity Advisor Freedom 2005 Fund | 50,301,975 | 56,121,972 |
| Fidelity Advisor Freedom 2010 Fund | 97,781,928 | 137,573,563 |
| Fidelity Advisor Freedom 2015 Fund | 222,956,437 | 305,706,123 |
| Fidelity Advisor Freedom 2020 Fund | 529,635,878 | 729,659,691 |
| Fidelity Advisor Freedom 2025 Fund | 791,148,758 | 841,333,208 |
| Fidelity Advisor Freedom 2030 Fund | 913,287,272 | 900,071,088 |
| Fidelity Advisor Freedom 2035 Fund | 745,853,578 | 689,466,320 |
| Fidelity Advisor Freedom 2040 Fund | 601,216,378 | 586,341,542 |
| Fidelity Advisor Freedom 2045 Fund | 440,153,362 | 392,917,181 |
| Fidelity Advisor Freedom 2050 Fund | 390,622,743 | 307,954,100 |
| Fidelity Advisor Freedom 2055 Fund | 263,100,169 | 182,111,093 |
| Fidelity Advisor Freedom 2060 Fund | 134,777,658 | 65,800,078 |
| Fidelity Advisor Freedom 2065 Fund | 20,240,475 | 4,045,725 |
6. Fees and Other Transactions with Affiliates.
Management Fee and Expense Contract. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Funds with investment management related services. Under the management contract, each Class of each Fund pays a monthly management fee that is set at an annual rate by referring to each Fund's target date, indicated by its name, such that the management fee rate applicable to each Class of each Fund is reduced as the fund approaches, and then passes, its target date. In addition, under the management contract, the investment adviser pays all ordinary operating expenses of each Fund, except distribution and service plan fees, fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses. For each Fund, with the exception of Fidelity Advisor Freedom 2065 Fund, the management fee is reduced by an amount equal to the fees and expenses paid by each Fund to the independent Trustees. For the reporting period, the total annual management fee rate for each Class of each Fund was as follows:
| | Annual % of Class-Level Average Net Assets (Classes A, M, C, I) | Annual % of Class-Level Average Net Assets
(Classes Z, Z6) |
| Fidelity Advisor Freedom Income Fund | .465% | .415% |
| Fidelity Advisor Freedom 2005 Fund | .465% | .415% |
| Fidelity Advisor Freedom 2010 Fund | .508% | .448% |
| Fidelity Advisor Freedom 2015 Fund | .550% | .482% |
| Fidelity Advisor Freedom 2020 Fund | .593% | .517% |
| Fidelity Advisor Freedom 2025 Fund | .635% | .552% |
| Fidelity Advisor Freedom 2030 Fund | .678% | .587% |
| Fidelity Advisor Freedom 2035 Fund | .720% | .622% |
| Fidelity Advisor Freedom 2040 Fund | .746% | .643% |
| Fidelity Advisor Freedom 2045 Fund | .746% | .643% |
| Fidelity Advisor Freedom 2050 Fund | .746% | .643% |
| Fidelity Advisor Freedom 2055 Fund | .746% | .643% |
| Fidelity Advisor Freedom 2060 Fund | .746% | .643% |
| Fidelity Advisor Freedom 2065 Fund | .746% | .643% |
Under the expense contract, the investment adviser pays class-level expenses for Class Z6 of each Fund as necessary so that Class Z6 total expenses do not exceed certain amounts of Class Z6 average net assets on an annual basis with certain exceptions, as noted in the following table:
| | Annual % of Class-Level Average Net Assets (Class Z6) |
| Fidelity Advisor Freedom Income Fund | .365% |
| Fidelity Advisor Freedom 2005 Fund | .365% |
| Fidelity Advisor Freedom 2010 Fund | .384% |
| Fidelity Advisor Freedom 2015 Fund | .404% |
| Fidelity Advisor Freedom 2020 Fund | .423% |
| Fidelity Advisor Freedom 2025 Fund | .443% |
| Fidelity Advisor Freedom 2030 Fund | .462% |
| Fidelity Advisor Freedom 2035 Fund | .481% |
| Fidelity Advisor Freedom 2040 Fund | .493% |
| Fidelity Advisor Freedom 2045 Fund | .493% |
| Fidelity Advisor Freedom 2050 Fund | .493% |
| Fidelity Advisor Freedom 2055 Fund | .493% |
| Fidelity Advisor Freedom 2060 Fund | .493% |
| Fidelity Advisor Freedom 2065 Fund | .493% |
Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, each Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Company LLC (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of each Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:
| | Distribution Fee | Service Fee | Total Fees | Retained by FDC |
| Fidelity Advisor Freedom Income Fund | | | | |
| Class A | -% | .25% | $174,300 | $5,146 |
| Class M | .25% | .25% | 190,088 | 920 |
| Class C | .75% | .25% | 80,903 | 11,756 |
| | | | $445,291 | $17,822 |
| Fidelity Advisor Freedom 2005 Fund | | | | |
| Class A | -% | .25% | $195,726 | $8,438 |
| Class M | .25% | .25% | 111,342 | 2,098 |
| Class C | .75% | .25% | 16,724 | 1,342 |
| | | | $323,792 | $11,878 |
| Fidelity Advisor Freedom 2010 Fund | | | | |
| Class A | -% | .25% | $425,363 | $23,784 |
| Class M | .25% | .25% | 344,412 | 8,089 |
| Class C | .75% | .25% | 80,760 | 3,811 |
| | | | $850,535 | $35,684 |
| Fidelity Advisor Freedom 2015 Fund | | | | |
| Class A | -% | .25% | $965,819 | $38,108 |
| Class M | .25% | .25% | 671,010 | 8,670 |
| Class C | .75% | .25% | 216,530 | 18,562 |
| | | | $1,853,359 | $65,340 |
| Fidelity Advisor Freedom 2020 Fund | | | | |
| Class A | -% | .25% | $2,194,721 | $76,990 |
| Class M | .25% | .25% | 1,529,852 | 14,182 |
| Class C | .75% | .25% | 512,336 | 57,277 |
| | | | $4,236,909 | $148,449 |
| Fidelity Advisor Freedom 2025 Fund | | | | |
| Class A | -% | .25% | $3,022,233 | $99,278 |
| Class M | .25% | .25% | 2,059,626 | 17,558 |
| Class C | .75% | .25% | 578,851 | 87,268 |
| | | | $5,660,710 | $204,104 |
| Fidelity Advisor Freedom 2030 Fund | | | | |
| Class A | -% | .25% | $3,087,594 | $89,830 |
| Class M | .25% | .25% | 2,322,854 | 25,422 |
| Class C | .75% | .25% | 656,905 | 87,294 |
| | | | $6,067,353 | $202,546 |
| Fidelity Advisor Freedom 2035 Fund | | | | |
| Class A | -% | .25% | $2,543,661 | $72,297 |
| Class M | .25% | .25% | 1,923,362 | 13,712 |
| Class C | .75% | .25% | 471,239 | 81,679 |
| | | | $4,938,262 | $167,688 |
| Fidelity Advisor Freedom 2040 Fund | | | | |
| Class A | -% | .25% | $2,264,547 | $66,214 |
| Class M | .25% | .25% | 1,786,718 | 13,260 |
| Class C | .75% | .25% | 515,749 | 62,529 |
| | | | $4,567,014 | $142,003 |
| Fidelity Advisor Freedom 2045 Fund | | | | |
| Class A | -% | .25% | $1,440,238 | $42,587 |
| Class M | .25% | .25% | 1,135,204 | 8,327 |
| Class C | .75% | .25% | 291,309 | 49,573 |
| | | | $2,866,751 | $100,487 |
| Fidelity Advisor Freedom 2050 Fund | | | | |
| Class A | -% | .25% | $1,153,639 | $32,758 |
| Class M | .25% | .25% | 903,812 | 6,962 |
| Class C | .75% | .25% | 285,855 | 51,612 |
| | | | $2,343,306 | $91,332 |
| Fidelity Advisor Freedom 2055 Fund | | | | |
| Class A | -% | .25% | $654,278 | $17,271 |
| Class M | .25% | .25% | 498,408 | 2,669 |
| Class C | .75% | .25% | 140,369 | 30,560 |
| | | | $1,293,055 | $50,500 |
| Fidelity Advisor Freedom 2060 Fund | | | | |
| Class A | -% | .25% | $236,706 | $7,105 |
| Class M | .25% | .25% | 161,024 | 441 |
| Class C | .75% | .25% | 57,827 | 18,652 |
| | | | $455,557 | $26,198 |
| Fidelity Advisor Freedom 2065 Fund | | | | |
| Class A | -% | .25% | $12,827 | $583 |
| Class M | .25% | .25% | 3,652 | 924 |
| Class C | .75% | .25% | 2,889 | 2,839 |
| | | | $19,368 | $4,346 |
Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class M shares, some of which is paid to financial intermediaries for selling shares of each Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class M and Class C redemptions. The deferred sales charges are 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class M shares.
For the period, sales charge amounts retained by FDC were as follows:
| | Retained by FDC |
| Fidelity Advisor Freedom Income Fund | |
| Class A | $9,813 |
| Class M | 832 |
| Class C(a) | 1,172 |
| | $11,817 |
| Fidelity Advisor Freedom 2005 Fund | |
| Class A | $4,237 |
| Class M | 575 |
| Class C(a) | 889 |
| | $5,701 |
| Fidelity Advisor Freedom 2010 Fund | |
| Class A | $4,371 |
| Class M | 1,056 |
| Class C(a) | 455 |
| | $5,882 |
| Fidelity Advisor Freedom 2015 Fund | |
| Class A | $10,811 |
| Class M | 1,584 |
| Class C(a) | 627 |
| | $13,022 |
| Fidelity Advisor Freedom 2020 Fund | |
| Class A | $33,036 |
| Class M | 11,747 |
| Class C(a) | 5,769 |
| | $50,552 |
| Fidelity Advisor Freedom 2025 Fund | |
| Class A | $70,683 |
| Class M | 18,367 |
| Class C(a) | 11,125 |
| | $100,175 |
| Fidelity Advisor Freedom 2030 Fund | |
| Class A | $94,060 |
| Class M | 23,503 |
| Class C(a) | 8,484 |
| | $126,047 |
| Fidelity Advisor Freedom 2035 Fund | |
| Class A | $70,889 |
| Class M | 21,599 |
| Class C(a) | 6,485 |
| | $98,973 |
| Fidelity Advisor Freedom 2040 Fund | |
| Class A | $81,703 |
| Class M | 18,476 |
| Class C(a) | 5,672 |
| | $105,851 |
| Fidelity Advisor Freedom 2045 Fund | |
| Class A | $54,064 |
| Class M | 14,241 |
| Class C(a) | 3,683 |
| | $71,988 |
| Fidelity Advisor Freedom 2050 Fund | |
| Class A | $69,488 |
| Class M | 12,425 |
| Class C(a) | 4,021 |
| | $85,934 |
| Fidelity Advisor Freedom 2055 Fund | |
| Class A | $47,542 |
| Class M | 8,254 |
| Class C(a) | 3,018 |
| | $58,814 |
| Fidelity Advisor Freedom 2060 Fund | |
| Class A | $26,125 |
| Class M | 4,486 |
| Class C(a) | 1,838 |
| | $32,449 |
| Fidelity Advisor Freedom 2065 Fund | |
| Class A | $5,085 |
| Class M | 407 |
| Class C(a) | 38 |
| | $5,530 |
(a) When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.
Other. During the period, the investment adviser reimbursed the Funds for certain losses, which are included in Net Realized Gain (Loss) in each Fund's accompanying Statement of Operations, as follows:
| | Amount |
| Fidelity Advisor Freedom 2020 Fund | $32 |
| Fidelity Advisor Freedom 2030 Fund | 287 |
| Fidelity Advisor Freedom 2035 Fund | 2,095 |
| Fidelity Advisor Freedom 2040 Fund | 167,100 |
| Fidelity Advisor Freedom 2045 Fund | 103,796 |
| Fidelity Advisor Freedom 2050 Fund | 90,316 |
| Fidelity Advisor Freedom 2055 Fund | 45,544 |
| Fidelity Advisor Freedom 2060 Fund | 13,480 |
7. Expense Reductions.
Through arrangements with each applicable Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce each applicable Fund's or class' expenses. All of the applicable expense reductions are noted in the table below.
| | Custodian credits |
| Fidelity Advisor Freedom Income Fund | $244 |
| Fidelity Advisor Freedom 2005 Fund | 239 |
| Fidelity Advisor Freedom 2010 Fund | 212 |
| Fidelity Advisor Freedom 2015 Fund | 186 |
| Fidelity Advisor Freedom 2020 Fund | 163 |
| Fidelity Advisor Freedom 2025 Fund | 139 |
| Fidelity Advisor Freedom 2030 Fund | 105 |
| Fidelity Advisor Freedom 2035 Fund | 133 |
| Fidelity Advisor Freedom 2040 Fund | 135 |
| Fidelity Advisor Freedom 2045 Fund | 197 |
| Fidelity Advisor Freedom 2050 Fund | 194 |
| Fidelity Advisor Freedom 2055 Fund | 206 |
| Fidelity Advisor Freedom 2060 Fund | 97 |
8. Distributions to Shareholders.
Distributions to shareholders of each class were as follows:
| | Year ended
March 31, 2021 | Year ended
March 31, 2020 |
| Fidelity Advisor Freedom Income Fund | | |
| Distributions to shareholders | | |
| Class A | $2,503,490 | $2,423,973 |
| Class M | 1,249,086 | 1,282,366 |
| Class C | 240,051 | 224,542 |
| Class I | 3,329,671 | 3,187,584 |
| Class Z | 263,743 | 83,117 |
| Class Z6 | 864,534 | 919,934 |
| Total | $8,450,575 | $8,121,516 |
| Fidelity Advisor Freedom 2005 Fund | | |
| Distributions to shareholders | | |
| Class A | $3,910,338 | $3,926,643 |
| Class M | 1,097,741 | 1,036,707 |
| Class C | 74,180 | 72,965 |
| Class I | 2,832,110 | 2,453,070 |
| Class Z | 183,519 | 95,869 |
| Class Z6 | 189,328 | 106,803 |
| Total | $8,287,216 | $7,692,057 |
| Fidelity Advisor Freedom 2010 Fund | | |
| Distributions to shareholders | | |
| Class A | $10,081,398 | $10,723,120 |
| Class M | 3,927,446 | 3,931,541 |
| Class C | 422,688 | 507,619 |
| Class I | 7,177,521 | 7,362,100 |
| Class Z | 403,627 | 279,212 |
| Class Z6 | 656,389 | 523,761 |
| Total | $22,669,069 | $23,327,353 |
| Fidelity Advisor Freedom 2015 Fund | | |
| Distributions to shareholders | | |
| Class A | $27,672,273 | $30,206,562 |
| Class M | 9,358,350 | 9,667,183 |
| Class C | 1,416,945 | 1,619,054 |
| Class I | 18,797,442 | 19,784,592 |
| Class Z | 1,331,324 | 950,751 |
| Class Z6 | 1,483,793 | 1,242,355 |
| Total | $60,060,127 | $63,470,497 |
| Fidelity Advisor Freedom 2020 Fund | | |
| Distributions to shareholders | | |
| Class A | $63,719,350 | $66,525,410 |
| Class M | 21,269,262 | 21,770,194 |
| Class C | 3,397,942 | 3,483,167 |
| Class I | 53,936,603 | 53,090,515 |
| Class Z | 2,984,791 | 1,673,674 |
| Class Z6 | 5,667,719 | 3,930,457 |
| Total | $150,975,667 | $150,473,417 |
| Fidelity Advisor Freedom 2025 Fund | | |
| Distributions to shareholders | | |
| Class A | $77,221,818 | $83,960,534 |
| Class M | 25,434,147 | 26,603,535 |
| Class C | 3,452,745 | 3,684,828 |
| Class I | 69,881,034 | 70,900,166 |
| Class Z | 3,230,478 | 1,699,890 |
| Class Z6 | 7,284,030 | 4,819,160 |
| Total | $186,504,252 | $191,668,113 |
| Fidelity Advisor Freedom 2030 Fund | | |
| Distributions to shareholders | | |
| Class A | $82,817,767 | $87,803,333 |
| Class M | 30,496,305 | 31,097,792 |
| Class C | 4,109,512 | 4,193,696 |
| Class I | 82,119,171 | 80,313,250 |
| Class Z | 3,521,225 | 1,759,031 |
| Class Z6 | 8,634,280 | 5,491,649 |
| Total | $211,698,260 | $210,658,751 |
| Fidelity Advisor Freedom 2035 Fund | | |
| Distributions to shareholders | | |
| Class A | $65,732,045 | $75,561,562 |
| Class M | 24,549,717 | 26,999,735 |
| Class C | 2,900,159 | 3,076,003 |
| Class I | 67,093,888 | 70,940,899 |
| Class Z | 2,607,386 | 1,304,695 |
| Class Z6 | 6,357,121 | 4,306,379 |
| Total | $169,240,316 | $182,189,273 |
| Fidelity Advisor Freedom 2040 Fund | | |
| Distributions to shareholders | | |
| Class A | $56,937,241 | $65,818,691 |
| Class M | 22,132,767 | 24,948,228 |
| Class C | 3,098,014 | 3,509,869 |
| Class I | 57,743,231 | 61,089,389 |
| Class Z | 1,941,461 | 789,261 |
| Class Z6 | 5,696,939 | 3,850,649 |
| Total | $147,549,653 | $160,006,087 |
| Fidelity Advisor Freedom 2045 Fund | | |
| Distributions to shareholders | | |
| Class A | $32,635,427 | $38,958,921 |
| Class M | 12,723,832 | 14,899,798 |
| Class C | 1,535,354 | 1,718,304 |
| Class I | 38,645,051 | 43,814,200 |
| Class Z | 1,446,099 | 640,990 |
| Class Z6 | 4,100,077 | 2,838,378 |
| Total | $91,085,840 | $102,870,591 |
| Fidelity Advisor Freedom 2050 Fund | | |
| Distributions to shareholders | | |
| Class A | $25,881,495 | $29,698,088 |
| Class M | 10,022,376 | 11,795,835 |
| Class C | 1,485,553 | 1,660,794 |
| Class I | 32,688,315 | 36,991,678 |
| Class Z | 1,005,359 | 361,923 |
| Class Z6 | 3,209,943 | 1,930,737 |
| Total | $74,293,041 | $82,439,055 |
| Fidelity Advisor Freedom 2055 Fund | | |
| Distributions to shareholders | | |
| Class A | $13,547,758 | $14,501,911 |
| Class M | 5,026,455 | 5,537,976 |
| Class C | 650,918 | 686,009 |
| Class I | 19,340,100 | 22,820,123 |
| Class Z | 559,593 | 182,309 |
| Class Z6 | 1,954,224 | 1,125,155 |
| Total | $41,079,048 | $44,853,483 |
| Fidelity Advisor Freedom 2060 Fund | | |
| Distributions to shareholders | | |
| Class A | $4,221,456 | $3,975,561 |
| Class M | 1,378,867 | 1,289,398 |
| Class C | 232,094 | 231,466 |
| Class I | 5,923,577 | 5,368,074 |
| Class Z | 151,102 | 48,289 |
| Class Z6 | 573,340 | 251,539 |
| Total | $12,480,436 | $11,164,327 |
| Fidelity Advisor Freedom 2065 Fund(a) | | |
| Distributions to shareholders | | |
| Class A | $136,992 | $16,986 |
| Class M | 17,678 | 3,436 |
| Class C | 5,872 | 2,276 |
| Class I | 156,022 | 23,019 |
| Class Z | 9,465 | 3,116 |
| Class Z6 | 28,915 | 5,332 |
| Total | $354,944 | $54,165 |
(a) For the period June 28, 2019 (commencement of operations) to March 31, 2020.
9. Share Transactions.
Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between affiliated funds:
| | Shares | Shares | Dollars | Dollars |
| | Year ended March 31, 2021 | Year ended March 31, 2020 | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Fidelity Advisor Freedom Income Fund | | | | |
| Class A | | | | |
| Shares sold | 2,235,730 | 1,474,305 | $25,345,484 | $16,054,996 |
| Reinvestment of distributions | 217,623 | 217,652 | 2,438,663 | 2,374,345 |
| Shares redeemed | (1,903,413) | (2,296,205) | (21,519,775) | (24,989,979) |
| Net increase (decrease) | 549,940 | (604,248) | $6,264,372 | $(6,560,638) |
| Class M | | | | |
| Shares sold | 704,662 | 1,045,095 | $7,903,432 | $11,406,267 |
| Reinvestment of distributions | 110,920 | 115,197 | 1,238,714 | 1,255,169 |
| Shares redeemed | (1,123,480) | (1,255,464) | (12,702,451) | (13,615,186) |
| Net increase (decrease) | (307,898) | (95,172) | $(3,560,305) | $(953,750) |
| Class C | | | | |
| Shares sold | 139,160 | 148,130 | $1,573,537 | $1,625,978 |
| Reinvestment of distributions | 20,169 | 19,450 | 224,976 | 211,662 |
| Shares redeemed | (193,677) | (242,456) | (2,170,624) | (2,631,225) |
| Net increase (decrease) | (34,348) | (74,876) | $(372,111) | $(793,585) |
| Class I | | | | |
| Shares sold | 2,421,023 | 2,861,021 | $27,237,670 | $31,331,217 |
| Reinvestment of distributions | 290,427 | 285,448 | 3,256,700 | 3,126,751 |
| Shares redeemed | (2,997,761) | (2,935,596) | (34,042,397) | (31,912,962) |
| Net increase (decrease) | (286,311) | 210,873 | $(3,548,027) | $2,545,006 |
| Class Z | | | | |
| Shares sold | 821,174 | 349,390 | $9,249,865 | $3,804,519 |
| Reinvestment of distributions | 15,816 | 7,553 | 178,750 | 83,116 |
| Shares redeemed | (359,725) | (130,745) | (4,110,384) | (1,438,486) |
| Net increase (decrease) | 477,265 | 226,198 | $5,318,231 | $2,449,149 |
| Class Z6 | | | | |
| Shares sold | 745,826 | 213,312 | $8,408,823 | $2,437,545 |
| Reinvestment of distributions | 77,081 | 59,710 | 864,533 | 663,526 |
| Shares redeemed | (793,697) | (575,524) | (8,838,388) | (6,297,794) |
| Net increase (decrease) | 29,210 | (302,502) | $434,968 | $(3,196,723) |
| Fidelity Advisor Freedom 2005 Fund | | | | |
| Class A | | | | |
| Shares sold | 1,139,535 | 2,126,648 | $13,359,648 | $24,477,847 |
| Reinvestment of distributions | 327,516 | 333,117 | 3,782,165 | 3,811,456 |
| Shares redeemed | (1,951,283) | (3,285,468) | (23,046,624) | (37,868,950) |
| Net increase (decrease) | (484,232) | (825,703) | $(5,904,811) | $(9,579,647) |
| Class M | | | | |
| Shares sold | 466,737 | 675,503 | $5,449,495 | $7,757,805 |
| Reinvestment of distributions | 95,054 | 90,492 | 1,096,045 | 1,035,277 |
| Shares redeemed | (831,095) | (818,053) | (9,660,283) | (9,258,163) |
| Net increase (decrease) | (269,304) | (52,058) | $(3,114,743) | $(465,081) |
| Class C | | | | |
| Shares sold | 11,942 | 27,850 | $139,247 | $321,622 |
| Reinvestment of distributions | 5,961 | 5,945 | 68,876 | 68,180 |
| Shares redeemed | (55,734) | (85,228) | (664,158) | (967,289) |
| Net increase (decrease) | (37,831) | (51,433) | $(456,035) | $(577,487) |
| Class I | | | | |
| Shares sold | 1,700,893 | 1,895,410 | $20,150,422 | $21,602,810 |
| Reinvestment of distributions | 241,860 | 212,052 | 2,824,652 | 2,447,375 |
| Shares redeemed | (1,685,295) | (2,098,573) | (20,053,782) | (24,092,280) |
| Net increase (decrease) | 257,458 | 8,889 | $2,921,292 | $(42,095) |
| Class Z | | | | |
| Shares sold | 125,383 | 330,618 | $1,477,284 | $3,792,311 |
| Reinvestment of distributions | 15,091 | 8,317 | 175,290 | 95,869 |
| Shares redeemed | (61,170) | (87,924) | (726,061) | (996,354) |
| Net increase (decrease) | 79,304 | 251,011 | $926,513 | $2,891,826 |
| Class Z6 | | | | |
| Shares sold | 177,935 | 215,744 | $2,104,847 | $2,504,485 |
| Reinvestment of distributions | 16,185 | 9,274 | 189,328 | 106,802 |
| Shares redeemed | (71,513) | (143,631) | (849,190) | (1,615,249) |
| Net increase (decrease) | 122,607 | 81,387 | $1,444,985 | $996,038 |
| Fidelity Advisor Freedom 2010 Fund | | | | |
| Class A | | | | |
| Shares sold | 1,599,587 | 2,653,509 | $19,312,106 | $31,374,639 |
| Reinvestment of distributions | 838,641 | 895,022 | 9,924,521 | 10,562,784 |
| Shares redeemed | (4,181,719) | (5,564,975) | (50,618,551) | (65,684,572) |
| Net increase (decrease) | (1,743,491) | (2,016,444) | $(21,381,924) | $(23,747,149) |
| Class M | | | | |
| Shares sold | 815,263 | 1,039,036 | $9,831,807 | $12,253,878 |
| Reinvestment of distributions | 332,260 | 333,353 | 3,915,861 | 3,920,662 |
| Shares redeemed | (1,489,485) | (1,555,210) | (17,897,383) | (18,091,595) |
| Net increase (decrease) | (341,962) | (182,821) | $(4,149,715) | $(1,917,055) |
| Class C | | | | |
| Shares sold | 29,489 | 104,548 | $356,202 | $1,225,693 |
| Reinvestment of distributions | 35,634 | 42,133 | 415,816 | 493,186 |
| Shares redeemed | (305,795) | (301,798) | (3,696,596) | (3,480,292) |
| Net increase (decrease) | (240,672) | (155,117) | $(2,924,578) | $(1,761,413) |
| Class I | | | | |
| Shares sold | 1,911,784 | 2,389,125 | $23,185,948 | $28,347,243 |
| Reinvestment of distributions | 589,296 | 606,022 | 7,016,916 | 7,181,497 |
| Shares redeemed | (3,148,979) | (4,367,927) | (38,451,422) | (51,980,482) |
| Net increase (decrease) | (647,899) | (1,372,780) | $(8,248,558) | $(16,451,742) |
| Class Z | | | | |
| Shares sold | 125,517 | 555,656 | $1,506,454 | $6,535,070 |
| Reinvestment of distributions | 33,696 | 23,193 | 399,265 | 275,209 |
| Shares redeemed | (176,541) | (62,574) | (2,150,314) | (732,555) |
| Net increase (decrease) | (17,328) | 516,275 | $(244,595) | $6,077,724 |
| Class Z6 | | | | |
| Shares sold | 461,188 | 391,370 | $5,669,947 | $4,701,985 |
| Reinvestment of distributions | 55,059 | 44,154 | 656,389 | 523,761 |
| Shares redeemed | (268,301) | (231,568) | (3,214,726) | (2,750,758) |
| Net increase (decrease) | 247,946 | 203,956 | $3,111,610 | $2,474,988 |
| Fidelity Advisor Freedom 2015 Fund | | | | |
| Class A | | | | |
| Shares sold | 3,502,330 | 4,402,418 | $42,131,861 | $52,165,534 |
| Reinvestment of distributions | 2,358,486 | 2,543,008 | 27,384,704 | 29,945,413 |
| Shares redeemed | (8,885,582) | (13,727,846) | (106,445,525) | (161,245,372) |
| Net increase (decrease) | (3,024,766) | (6,782,420) | $(36,928,960) | $(79,134,425) |
| Class M | | | | |
| Shares sold | 1,024,650 | 1,450,657 | $12,292,161 | $17,063,991 |
| Reinvestment of distributions | 805,594 | 817,435 | 9,324,100 | 9,607,065 |
| Shares redeemed | (2,727,467) | (3,610,651) | (32,664,160) | (42,260,524) |
| Net increase (decrease) | (897,223) | (1,342,559) | $(11,047,899) | $(15,589,468) |
| Class C | | | | |
| Shares sold | 171,966 | 175,415 | $2,062,866 | $2,043,567 |
| Reinvestment of distributions | 122,932 | 137,152 | 1,411,622 | 1,599,094 |
| Shares redeemed | (534,156) | (1,092,284) | (6,429,579) | (12,767,811) |
| Net increase (decrease) | (239,258) | (779,717) | $(2,955,091) | $(9,125,150) |
| Class I | | | | |
| Shares sold | 3,628,024 | 5,287,109 | $43,873,324 | $62,997,820 |
| Reinvestment of distributions | 1,581,589 | 1,636,083 | 18,547,980 | 19,437,229 |
| Shares redeemed | (7,072,887) | (10,477,798) | (85,706,324) | (124,546,232) |
| Net increase (decrease) | (1,863,274) | (3,554,606) | $(23,285,020) | $(42,111,183) |
| Class Z | | | | |
| Shares sold | 507,928 | 1,597,817 | $6,111,056 | $18,810,995 |
| Reinvestment of distributions | 109,834 | 75,903 | 1,286,341 | 904,608 |
| Shares redeemed | (467,841) | (299,339) | (5,484,948) | (3,522,651) |
| Net increase (decrease) | 149,921 | 1,374,381 | $1,912,449 | $16,192,952 |
| Class Z6 | | | | |
| Shares sold | 1,604,770 | 683,392 | $19,826,691 | $8,108,663 |
| Reinvestment of distributions | 123,912 | 102,968 | 1,467,914 | 1,220,747 |
| Shares redeemed | (929,525) | (750,829) | (11,459,501) | (8,868,598) |
| Net increase (decrease) | 799,157 | 35,531 | $9,835,104 | $460,812 |
| Fidelity Advisor Freedom 2020 Fund | | | | |
| Class A | | | | |
| Shares sold | 9,431,663 | 12,498,182 | $125,196,295 | $162,411,933 |
| Reinvestment of distributions | 4,894,091 | 5,079,983 | 62,805,611 | 65,809,040 |
| Shares redeemed | (21,264,407) | (28,851,632) | (283,486,491) | (371,420,567) |
| Net increase (decrease) | (6,938,653) | (11,273,467) | $(95,484,585) | $(143,199,594) |
| Class M | | | | |
| Shares sold | 3,173,253 | 4,286,801 | $42,203,298 | $55,583,047 |
| Reinvestment of distributions | 1,651,673 | 1,671,581 | 21,168,692 | 21,651,546 |
| Shares redeemed | (6,874,405) | (8,770,608) | (91,487,432) | (112,935,739) |
| Net increase (decrease) | (2,049,479) | (2,812,226) | $(28,115,442) | $(35,701,146) |
| Class C | | | | |
| Shares sold | 577,220 | 552,093 | $7,614,882 | $7,120,558 |
| Reinvestment of distributions | 263,593 | 265,912 | 3,341,676 | 3,410,332 |
| Shares redeemed | (1,213,950) | (1,684,099) | (15,997,506) | (21,619,753) |
| Net increase (decrease) | (373,137) | (866,094) | $(5,040,948) | $(11,088,863) |
| Class I | | | | |
| Shares sold | 12,183,389 | 15,187,982 | $163,095,678 | $198,644,077 |
| Reinvestment of distributions | 4,100,188 | 3,997,350 | 53,126,318 | 52,236,295 |
| Shares redeemed | (20,178,633) | (24,252,070) | (271,153,691) | (315,446,604) |
| Net increase (decrease) | (3,895,056) | (5,066,738) | $(54,931,695) | $(64,566,232) |
| Class Z | | | | |
| Shares sold | 966,136 | 2,921,609 | $13,096,326 | $38,182,521 |
| Reinvestment of distributions | 226,420 | 124,275 | 2,932,725 | 1,629,425 |
| Shares redeemed | (813,593) | (397,746) | (10,921,495) | (5,086,628) |
| Net increase (decrease) | 378,963 | 2,648,138 | $5,107,556 | $34,725,318 |
| Class Z6 | | | | |
| Shares sold | 3,096,617 | 2,133,469 | $42,057,610 | $27,982,829 |
| Reinvestment of distributions | 429,405 | 298,986 | 5,599,835 | 3,907,905 |
| Shares redeemed | (1,823,031) | (1,017,958) | (24,218,192) | (13,058,618) |
| Net increase (decrease) | 1,702,991 | 1,414,497 | $23,439,253 | $18,832,116 |
| Fidelity Advisor Freedom 2025 Fund | | | | |
| Class A | | | | |
| Shares sold | 17,043,365 | 17,315,893 | $231,352,969 | $225,669,707 |
| Reinvestment of distributions | 5,898,781 | 6,441,432 | 76,586,993 | 83,564,674 |
| Shares redeemed | (25,991,947) | (33,768,087) | (352,543,272) | (434,599,449) |
| Net increase (decrease) | (3,049,801) | (10,010,762) | $(44,603,310) | $(125,365,068) |
| Class M | | | | |
| Shares sold | 4,717,527 | 5,595,595 | $63,842,096 | $72,849,182 |
| Reinvestment of distributions | 1,953,851 | 2,029,720 | 25,334,702 | 26,386,492 |
| Shares redeemed | (8,475,764) | (8,866,357) | (114,413,281) | (115,146,507) |
| Net increase (decrease) | (1,804,386) | (1,241,042) | $(25,236,483) | $(15,910,833) |
| Class C | | | | |
| Shares sold | 690,767 | 782,061 | $9,279,485 | $9,966,650 |
| Reinvestment of distributions | 270,239 | 284,019 | 3,416,666 | 3,620,205 |
| Shares redeemed | (1,306,698) | (1,578,414) | (17,415,040) | (19,998,108) |
| Net increase (decrease) | (345,692) | (512,334) | $(4,718,889) | $(6,411,253) |
| Class I | | | | |
| Shares sold | 18,869,667 | 23,304,850 | $258,302,688 | $306,164,622 |
| Reinvestment of distributions | 5,226,551 | 5,301,356 | 68,666,963 | 69,500,571 |
| Shares redeemed | (24,331,686) | (30,671,243) | (331,324,363) | (400,738,293) |
| Net increase (decrease) | (235,468) | (2,065,037) | $(4,354,712) | $(25,073,100) |
| Class Z | | | | |
| Shares sold | 1,443,507 | 3,394,075 | $20,025,136 | $44,603,333 |
| Reinvestment of distributions | 245,518 | 128,889 | 3,227,375 | 1,697,164 |
| Shares redeemed | (695,804) | (620,071) | (9,461,355) | (7,982,193) |
| Net increase (decrease) | 993,221 | 2,902,893 | $13,791,156 | $38,318,304 |
| Class Z6 | | | | |
| Shares sold | 4,812,512 | 3,497,762 | $66,455,017 | $46,291,426 |
| Reinvestment of distributions | 548,252 | 376,735 | 7,262,722 | 4,935,899 |
| Shares redeemed | (2,195,854) | (1,482,373) | (30,038,236) | (19,297,811) |
| Net increase (decrease) | 3,164,910 | 2,392,124 | $43,679,503 | $31,929,514 |
| Fidelity Advisor Freedom 2030 Fund | | | | |
| Class A | | | | |
| Shares sold | 14,450,751 | 16,206,403 | $210,607,852 | $226,539,374 |
| Reinvestment of distributions | 5,898,819 | 6,265,438 | 82,034,909 | 87,212,669 |
| Shares redeemed | (23,240,151) | (28,547,452) | (340,347,964) | (393,579,788) |
| Net increase (decrease) | (2,890,581) | (6,075,611) | $(47,705,203) | $(79,827,745) |
| Class M | | | | |
| Shares sold | 5,351,504 | 6,485,892 | $77,685,363 | $90,170,952 |
| Reinvestment of distributions | 2,196,766 | 2,224,684 | 30,338,954 | 30,795,975 |
| Shares redeemed | (8,158,254) | (9,040,278) | (117,825,483) | (124,863,441) |
| Net increase (decrease) | (609,984) | (329,702) | $(9,801,166) | $(3,896,514) |
| Class C | | | | |
| Shares sold | 726,941 | 808,317 | $10,441,689 | $11,113,474 |
| Reinvestment of distributions | 301,248 | 303,489 | 4,072,149 | 4,134,298 |
| Shares redeemed | (1,197,137) | (1,298,218) | (17,207,670) | (17,796,138) |
| Net increase (decrease) | (168,948) | (186,412) | $(2,693,832) | $(2,548,366) |
| Class I | | | | |
| Shares sold | 20,320,256 | 22,989,540 | $298,795,613 | $322,959,549 |
| Reinvestment of distributions | 5,689,519 | 5,564,283 | 79,829,517 | 78,045,729 |
| Shares redeemed | (23,835,499) | (27,132,171) | (349,410,864) | (380,597,580) |
| Net increase (decrease) | 2,174,276 | 1,421,652 | $29,214,266 | $20,407,698 |
| Class Z | | | | |
| Shares sold | 1,197,642 | 3,216,856 | $17,513,265 | $44,863,622 |
| Reinvestment of distributions | 250,203 | 124,056 | 3,513,833 | 1,756,540 |
| Shares redeemed | (591,462) | (433,722) | (8,545,973) | (6,132,293) |
| Net increase (decrease) | 856,383 | 2,907,190 | $12,481,125 | $40,487,869 |
| Class Z6 | | | | |
| Shares sold | 5,238,664 | 3,290,469 | $79,128,455 | $46,464,736 |
| Reinvestment of distributions | 605,508 | 391,952 | 8,610,966 | 5,510,782 |
| Shares redeemed | (1,812,320) | (1,151,322) | (26,929,863) | (16,177,112) |
| Net increase (decrease) | 4,031,852 | 2,531,099 | $60,809,558 | $35,798,406 |
| Fidelity Advisor Freedom 2035 Fund | | | | |
| Class A | | | | |
| Shares sold | 12,745,894 | 14,424,285 | $180,877,431 | $194,409,564 |
| Reinvestment of distributions | 4,931,603 | 5,596,454 | 65,328,886 | 75,230,574 |
| Shares redeemed | (19,536,651) | (23,625,076) | (278,275,054) | (313,294,772) |
| Net increase (decrease) | (1,859,154) | (3,604,337) | $(32,068,737) | $(43,654,634) |
| Class M | | | | |
| Shares sold | 5,027,991 | 5,593,464 | $70,690,291 | $74,655,471 |
| Reinvestment of distributions | 1,877,271 | 2,020,285 | 24,479,138 | 26,865,170 |
| Shares redeemed | (7,420,144) | (7,432,819) | (104,431,074) | (98,813,575) |
| Net increase (decrease) | (514,882) | 180,930 | $(9,261,645) | $2,707,066 |
| Class C | | | | |
| Shares sold | 589,666 | 606,636 | $8,101,471 | $7,886,217 |
| Reinvestment of distributions | 226,626 | 232,876 | 2,870,863 | 3,028,444 |
| Shares redeemed | (759,576) | (801,700) | (10,379,060) | (10,409,900) |
| Net increase (decrease) | 56,716 | 37,812 | $593,274 | $504,761 |
| Class I | | | | |
| Shares sold | 18,572,423 | 21,186,294 | $265,452,429 | $286,873,574 |
| Reinvestment of distributions | 4,834,164 | 5,048,332 | 64,952,173 | 68,566,941 |
| Shares redeemed | (21,055,945) | (22,548,007) | (299,130,740) | (306,098,532) |
| Net increase (decrease) | 2,350,642 | 3,686,619 | $31,273,862 | $49,341,983 |
| Class Z | | | | |
| Shares sold | 1,027,427 | 2,554,133 | $14,564,561 | $34,771,823 |
| Reinvestment of distributions | 191,974 | 94,727 | 2,597,042 | 1,301,007 |
| Shares redeemed | (329,885) | (417,420) | (4,629,276) | (5,727,643) |
| Net increase (decrease) | 889,516 | 2,231,440 | $12,532,327 | $30,345,187 |
| Class Z6 | | | | |
| Shares sold | 4,805,545 | 3,053,093 | $71,285,133 | $41,768,708 |
| Reinvestment of distributions | 464,398 | 323,069 | 6,356,350 | 4,397,759 |
| Shares redeemed | (1,494,278) | (1,162,043) | (21,550,231) | (15,719,663) |
| Net increase (decrease) | 3,775,665 | 2,214,119 | $56,091,252 | $30,446,804 |
| Fidelity Advisor Freedom 2040 Fund | | | | |
| Class A | | | | |
| Shares sold | 11,088,110 | 11,840,045 | $168,289,951 | $170,207,574 |
| Reinvestment of distributions | 4,031,211 | 4,564,793 | 56,477,993 | 65,435,695 |
| Shares redeemed | (18,441,716) | (19,121,121) | (282,099,262) | (270,072,619) |
| Net increase (decrease) | (3,322,395) | (2,716,283) | $(57,331,318) | $(34,429,350) |
| Class M | | | | |
| Shares sold | 4,007,260 | 4,528,005 | $60,718,878 | $64,920,774 |
| Reinvestment of distributions | 1,586,610 | 1,738,651 | 22,021,734 | 24,738,913 |
| Shares redeemed | (6,292,100) | (7,082,606) | (94,677,902) | (101,386,761) |
| Net increase (decrease) | (698,230) | (815,950) | $(11,937,290) | $(11,727,074) |
| Class C | | | | |
| Shares sold | 418,741 | 466,099 | $6,191,883 | $6,525,727 |
| Reinvestment of distributions | 229,971 | 251,909 | 3,082,923 | 3,492,400 |
| Shares redeemed | (810,299) | (1,003,555) | (12,145,392) | (14,109,320) |
| Net increase (decrease) | (161,587) | (285,547) | $(2,870,586) | $(4,091,193) |
| Class I | | | | |
| Shares sold | 16,269,650 | 17,756,004 | $250,179,380 | $255,999,975 |
| Reinvestment of distributions | 3,936,511 | 4,093,941 | 56,008,263 | 59,230,605 |
| Shares redeemed | (19,052,246) | (18,933,830) | (292,128,846) | (274,181,249) |
| Net increase (decrease) | 1,153,915 | 2,916,115 | $14,058,797 | $41,049,331 |
| Class Z | | | | |
| Shares sold | 1,077,828 | 1,724,653 | $16,509,881 | $24,792,851 |
| Reinvestment of distributions | 133,713 | 52,962 | 1,935,717 | 781,656 |
| Shares redeemed | (369,652) | (224,624) | (5,689,099) | (3,265,403) |
| Net increase (decrease) | 841,889 | 1,552,991 | $12,756,499 | $22,309,104 |
| Class Z6 | | | | |
| Shares sold | 4,180,386 | 2,387,707 | $66,988,095 | $34,943,439 |
| Reinvestment of distributions | 390,936 | 269,193 | 5,694,932 | 3,906,074 |
| Shares redeemed | (1,334,628) | (755,102) | (20,719,533) | (10,869,881) |
| Net increase (decrease) | 3,236,694 | 1,901,798 | $51,963,494 | $27,979,632 |
| Fidelity Advisor Freedom 2045 Fund | | | | |
| Class A | | | | |
| Shares sold | 11,191,576 | 12,576,422 | $133,453,232 | $141,507,919 |
| Reinvestment of distributions | 2,950,953 | 3,477,587 | 32,543,699 | 38,917,915 |
| Shares redeemed | (15,915,683) | (15,971,998) | (191,641,624) | (177,041,754) |
| Net increase (decrease) | (1,773,154) | 82,011 | $(25,644,693) | $3,384,080 |
| Class M | | | | |
| Shares sold | 3,854,236 | 4,672,530 | $45,270,063 | $51,891,372 |
| Reinvestment of distributions | 1,170,123 | 1,342,659 | 12,709,640 | 14,870,122 |
| Shares redeemed | (5,470,768) | (5,380,024) | (63,750,883) | (59,627,514) |
| Net increase (decrease) | (446,409) | 635,165 | $(5,771,180) | $7,133,980 |
| Class C | | | | |
| Shares sold | 420,321 | 458,819 | $4,815,222 | $5,033,171 |
| Reinvestment of distributions | 144,445 | 157,375 | 1,529,287 | 1,711,388 |
| Shares redeemed | (470,241) | (485,675) | (5,458,489) | (5,287,165) |
| Net increase (decrease) | 94,525 | 130,519 | $886,020 | $1,457,394 |
| Class I | | | | |
| Shares sold | 16,525,488 | 20,017,077 | $198,984,474 | $225,404,118 |
| Reinvestment of distributions | 3,316,272 | 3,724,249 | 37,066,639 | 42,082,532 |
| Shares redeemed | (18,908,867) | (19,394,240) | (226,787,258) | (220,868,936) |
| Net increase (decrease) | 932,893 | 4,347,086 | $9,263,855 | $46,617,714 |
| Class Z | | | | |
| Shares sold | 927,795 | 1,883,456 | $11,236,523 | $21,330,846 |
| Reinvestment of distributions | 127,632 | 55,687 | 1,444,539 | 639,417 |
| Shares redeemed | (273,947) | (279,216) | (3,187,870) | (3,168,961) |
| Net increase (decrease) | 781,480 | 1,659,927 | $9,493,192 | $18,801,302 |
| Class Z6 | | | | |
| Shares sold | 4,475,576 | 2,348,359 | $55,829,092 | $26,795,871 |
| Reinvestment of distributions | 357,495 | 257,658 | 4,100,077 | 2,917,396 |
| Shares redeemed | (1,357,321) | (647,308) | (16,771,610) | (7,218,547) |
| Net increase (decrease) | 3,475,750 | 1,958,709 | $43,157,559 | $22,494,720 |
| Fidelity Advisor Freedom 2050 Fund | | | | |
| Class A | | | | |
| Shares sold | 10,461,752 | 11,553,682 | $123,898,202 | $129,656,837 |
| Reinvestment of distributions | 2,350,241 | 2,653,369 | 25,805,835 | 29,642,295 |
| Shares redeemed | (13,356,309) | (13,103,116) | (161,529,200) | (145,401,914) |
| Net increase (decrease) | (544,316) | 1,103,935 | $(11,825,163) | $13,897,218 |
| Class M | | | | |
| Shares sold | 3,666,000 | 4,348,376 | $43,189,465 | $48,432,256 |
| Reinvestment of distributions | 922,314 | 1,061,461 | 10,007,819 | 11,762,431 |
| Shares redeemed | (4,896,373) | (5,471,716) | (57,671,647) | (60,880,969) |
| Net increase (decrease) | (308,059) | (61,879) | $(4,474,363) | $(686,282) |
| Class C | | | | |
| Shares sold | 509,340 | 431,780 | $5,940,775 | $4,743,004 |
| Reinvestment of distributions | 139,713 | 151,640 | 1,480,154 | 1,653,252 |
| Shares redeemed | (508,675) | (611,711) | (6,064,835) | (6,684,997) |
| Net increase (decrease) | 140,378 | (28,291) | $1,356,094 | $(288,741) |
| Class I | | | | |
| Shares sold | 15,204,297 | 17,804,353 | $182,833,214 | $200,570,042 |
| Reinvestment of distributions | 2,813,838 | 3,151,534 | 31,355,113 | 35,564,424 |
| Shares redeemed | (15,355,290) | (17,873,584) | (184,145,720) | (204,260,577) |
| Net increase (decrease) | 2,662,845 | 3,082,303 | $30,042,607 | $31,873,889 |
| Class Z | | | | |
| Shares sold | 920,087 | 1,300,654 | $11,271,700 | $14,723,895 |
| Reinvestment of distributions | 88,503 | 31,303 | 1,004,896 | 361,863 |
| Shares redeemed | (285,489) | (179,414) | (3,386,319) | (2,046,070) |
| Net increase (decrease) | 723,101 | 1,152,543 | $8,890,277 | $13,039,688 |
| Class Z6 | | | | |
| Shares sold | 4,164,432 | 2,118,577 | $51,802,873 | $24,102,651 |
| Reinvestment of distributions | 279,485 | 178,369 | 3,208,831 | 2,013,088 |
| Shares redeemed | (872,299) | (651,542) | (10,735,970) | (7,273,624) |
| Net increase (decrease) | 3,571,618 | 1,645,404 | $44,275,734 | $18,842,115 |
| Fidelity Advisor Freedom 2055 Fund | | | | |
| Class A | | | | |
| Shares sold | 7,201,619 | 7,425,778 | $95,780,791 | $93,033,169 |
| Reinvestment of distributions | 1,100,380 | 1,162,536 | 13,481,125 | 14,475,535 |
| Shares redeemed | (7,505,755) | (6,849,196) | (102,029,481) | (85,650,199) |
| Net increase (decrease) | 796,244 | 1,739,118 | $7,232,435 | $21,858,505 |
| Class M | | | | |
| Shares sold | 2,323,581 | 2,558,602 | $30,661,854 | $31,817,231 |
| Reinvestment of distributions | 414,536 | 447,013 | 5,020,721 | 5,524,763 |
| Shares redeemed | (2,338,534) | (2,546,903) | (31,319,085) | (31,732,087) |
| Net increase (decrease) | 399,583 | 458,712 | $4,363,490 | $5,609,907 |
| Class C | | | | |
| Shares sold | 246,332 | 219,568 | $3,195,857 | $2,704,771 |
| Reinvestment of distributions | 54,530 | 56,069 | 649,972 | 686,005 |
| Shares redeemed | (157,772) | (202,713) | (2,142,717) | (2,497,024) |
| Net increase (decrease) | 143,090 | 72,924 | $1,703,112 | $893,752 |
| Class I | | | | |
| Shares sold | 9,698,105 | 12,405,149 | $129,655,186 | $155,504,060 |
| Reinvestment of distributions | 1,465,469 | 1,715,370 | 18,143,614 | 21,518,680 |
| Shares redeemed | (9,182,324) | (12,690,451) | (122,933,697) | (163,071,693) |
| Net increase (decrease) | 1,981,250 | 1,430,068 | $24,865,103 | $13,951,047 |
| Class Z | | | | |
| Shares sold | 646,572 | 627,717 | $8,858,276 | $7,952,014 |
| Reinvestment of distributions | 43,817 | 14,240 | 559,586 | 182,308 |
| Shares redeemed | (160,552) | (126,620) | (2,148,115) | (1,539,918) |
| Net increase (decrease) | 529,837 | 515,337 | $7,269,747 | $6,594,404 |
| Class Z6 | | | | |
| Shares sold | 2,396,671 | 1,491,393 | $33,205,378 | $18,936,714 |
| Reinvestment of distributions | 154,674 | 92,350 | 1,954,044 | 1,160,720 |
| Shares redeemed | (864,315) | (345,849) | (11,793,097) | (4,393,860) |
| Net increase (decrease) | 1,687,030 | 1,237,894 | $23,366,325 | $15,703,574 |
| Fidelity Advisor Freedom 2060 Fund | | | | |
| Class A | | | | |
| Shares sold | 3,931,869 | 4,341,099 | $47,411,935 | $48,600,678 |
| Reinvestment of distributions | 377,693 | 351,563 | 4,207,497 | 3,973,334 |
| Shares redeemed | (3,110,815) | (2,688,980) | (38,578,377) | (30,043,199) |
| Net increase (decrease) | 1,198,747 | 2,003,682 | $13,041,055 | $22,530,813 |
| Class M | | | | |
| Shares sold | 1,510,467 | 1,320,400 | $18,419,860 | $14,892,485 |
| Reinvestment of distributions | 124,299 | 114,393 | 1,378,867 | 1,289,398 |
| Shares redeemed | (941,887) | (835,109) | (11,571,055) | (9,421,193) |
| Net increase (decrease) | 692,879 | 599,684 | $8,227,672 | $6,760,690 |
| Class C | | | | |
| Shares sold | 169,027 | 154,032 | $1,992,858 | $1,725,988 |
| Reinvestment of distributions | 21,271 | 20,633 | 231,734 | 231,410 |
| Shares redeemed | (116,309) | (79,153) | (1,409,448) | (893,469) |
| Net increase (decrease) | 73,989 | 95,512 | $815,144 | $1,063,929 |
| Class I | | | | |
| Shares sold | 5,738,684 | 6,260,268 | $69,292,017 | $70,805,650 |
| Reinvestment of distributions | 493,664 | 440,804 | 5,558,415 | 5,023,075 |
| Shares redeemed | (3,989,277) | (3,584,371) | (48,515,420) | (41,078,932) |
| Net increase (decrease) | 2,243,071 | 3,116,701 | $26,335,012 | $34,749,793 |
| Class Z | | | | |
| Shares sold | 301,152 | 184,538 | $3,813,013 | $2,099,627 |
| Reinvestment of distributions | 12,820 | 4,169 | 151,089 | 48,196 |
| Shares redeemed | (59,901) | (54,214) | (725,312) | (614,581) |
| Net increase (decrease) | 254,071 | 134,493 | $3,238,790 | $1,533,242 |
| Class Z6 | | | | |
| Shares sold | 1,206,323 | 573,547 | $15,062,917 | $6,528,282 |
| Reinvestment of distributions | 49,814 | 22,373 | 573,340 | 256,501 |
| Shares redeemed | (361,627) | (136,889) | (4,536,691) | (1,535,551) |
| Net increase (decrease) | 894,510 | 459,031 | $11,099,566 | $5,249,232 |
| Fidelity Advisor Freedom 2065 Fund(a) | | | | |
| Class A | | | | |
| Shares sold | 739,669 | 270,091 | $8,417,225 | $2,643,573 |
| Reinvestment of distributions | 12,229 | 1,593 | 136,931 | 16,986 |
| Shares redeemed | (233,138) | (37,938) | (2,703,211) | (368,426) |
| Net increase (decrease) | 518,760 | 233,746 | $5,850,945 | $2,292,133 |
| Class M | | | | |
| Shares sold | 77,047 | 40,888 | $871,743 | $400,716 |
| Reinvestment of distributions | 1,597 | 322 | 17,678 | 3,436 |
| Shares redeemed | (21,491) | (1,983) | (252,002) | (18,273) |
| Net increase (decrease) | 57,153 | 39,227 | $637,419 | $385,879 |
| Class C | | | | |
| Shares sold | 13,545 | 21,460 | $156,152 | $213,694 |
| Reinvestment of distributions | 556 | 213 | 5,871 | 2,276 |
| Shares redeemed | (1,727) | (1) | (18,627) | (15) |
| Net increase (decrease) | 12,374 | 21,672 | $143,396 | $215,955 |
| Class I | | | | |
| Shares sold | 908,443 | 311,028 | $10,525,557 | $3,116,572 |
| Reinvestment of distributions | 13,914 | 2,157 | 156,022 | 23,019 |
| Shares redeemed | (283,365) | (32,218) | (3,243,374) | (335,104) |
| Net increase (decrease) | 638,992 | 280,967 | $7,438,205 | $2,804,487 |
| Class Z | | | | |
| Shares sold | 24,345 | 20,936 | $282,306 | $207,081 |
| Reinvestment of distributions | 847 | 292 | 9,465 | 3,116 |
| Shares redeemed | (4,241) | (498) | (50,621) | (4,717) |
| Net increase (decrease) | 20,951 | 20,730 | $241,150 | $205,480 |
| Class Z6 | | | | |
| Shares sold | 183,979 | 106,399 | $2,253,917 | $1,110,643 |
| Reinvestment of distributions | 2,709 | 499 | 28,915 | 5,331 |
| Shares redeemed | (96,498) | (419) | (985,713) | (4,427) |
| Net increase (decrease) | 90,190 | 106,479 | $1,297,119 | $1,111,547 |
(a) For the period June 28, 2019 (commencement of operations) to March 31, 2020.
10. Other.
The Funds' organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Funds. In the normal course of business, the Funds may also enter into contracts that provide general indemnifications. The Funds' maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Funds. The risk of material loss from such claims is considered remote.
The Funds do not invest in underlying mutual funds for the purpose of exercising management or control; however, investments by the Funds within their principal investment strategies may represent a significant portion of the underlying mutual fund's net assets. At the end of the period, the following Funds were the owners of record of 10% or more of the total outstanding shares of the following underlying mutual funds.
| Fund | Fidelity Advisor Freedom 2025 Fund | Fidelity Advisor Freedom 2030 Fund | Fidelity Advisor Freedom 2035 Fund | Fidelity Advisor Freedom 2040 Fund | Fidelity Advisor Freedom 2045 Fund |
| Fidelity Advisor Series Equity Growth Fund | 11% | 13% | 15% | 15% | 11% |
| Fidelity Advisor Series Growth Opportunities Fund | 11% | 13% | 15% | 15% | 11% |
| Fidelity Advisor Series Small Cap Fund | 11% | 13% | 15% | 15% | 11% |
The Funds, in aggregate, were the owners of record of more than 20% of the total outstanding shares of the following underlying mutual funds.
| Fund | % of shares held |
| Fidelity Advisor Series Equity Growth Fund | 90% |
| Fidelity Advisor Series Growth Opportunities Fund | 90% |
| Fidelity Advisor Series Small Cap Fund | 90% |
11. Coronavirus (COVID-19) Pandemic.
An outbreak of COVID-19 first detected in China during December 2019 has since spread globally and was declared a pandemic by the World Health Organization during March 2020. Developments that disrupt global economies and financial markets, such as the COVID-19 pandemic, may magnify factors that affect the Funds' performance.
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of Fidelity Aberdeen Street Trust and the Shareholders of Fidelity Advisor Freedom Income Fund, Fidelity Advisor Freedom 2005 Fund, Fidelity Advisor Freedom 2010 Fund, Fidelity Advisor Freedom 2015 Fund, Fidelity Advisor Freedom 2020 Fund, Fidelity Advisor Freedom 2025 Fund, Fidelity Advisor Freedom 2030 Fund, Fidelity Advisor Freedom 2035 Fund, Fidelity Advisor Freedom 2040 Fund, Fidelity Advisor Freedom 2045 Fund, Fidelity Advisor Freedom 2050 Fund, Fidelity Advisor Freedom 2055 Fund, Fidelity Advisor Freedom 2060 Fund and Fidelity Advisor Freedom 2065 Fund
Opinion on the Financial Statements and Financial Highlights
We have audited the accompanying statements of assets and liabilities of Fidelity Advisor Freedom Income Fund, Fidelity Advisor Freedom 2005 Fund, Fidelity Advisor Freedom 2010 Fund, Fidelity Advisor Freedom 2015 Fund, Fidelity Advisor Freedom 2020 Fund, Fidelity Advisor Freedom 2025 Fund, Fidelity Advisor Freedom 2030 Fund, Fidelity Advisor Freedom 2035 Fund, Fidelity Advisor Freedom 2040 Fund, Fidelity Advisor Freedom 2045 Fund, Fidelity Advisor Freedom 2050 Fund, Fidelity Advisor Freedom 2055 Fund, Fidelity Advisor Freedom 2060 Fund and Fidelity Advisor Freedom 2065 Fund (the “Funds”), each a fund of Fidelity Aberdeen Street Trust, including the schedules of investments, as of March 31, 2021, the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended, except for the statement of changes in net assets, and the financial highlights for the Fidelity Advisor Freedom 2065 Fund; which are for the year ended March 31, 2021, and for the period from June 28, 2019 (commencement of operations) to March 31, 2020; and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Funds as of March 31, 2021, and the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended (or for the period mentioned above), in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements and financial highlights are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of March 31, 2021, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.
/s/ Deloitte & Touche LLP
Boston, Massachusetts
May 14, 2021
We have served as the auditor of one or more of the Fidelity investment companies since 1999.
Trustees and Officers
The Trustees, Members of the Advisory Board (if any), and officers of the trust and funds, as applicable, are listed below. The Board of Trustees governs each fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee each fund's activities, review contractual arrangements with companies that provide services to each fund, oversee management of the risks associated with such activities and contractual arrangements, and review each fund's performance. If the interests of a fund and an underlying Fidelity® fund were to diverge, a conflict of interest could arise and affect how the Trustees and Members of the Advisory Board fulfill their fiduciary duties to the affected funds. FMR has structured the funds to avoid these potential conflicts, although there may be situations where a conflict of interest is unavoidable. In such instances, FMR, the Trustees, and Members of the Advisory Board would take reasonable steps to minimize and, if possible, eliminate the conflict. Each of the Trustees oversees 283 funds.
The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust. Each Trustee who is not an interested person (as defined in the 1940 Act) of the trust and the funds is referred to herein as an Independent Trustee. Each Independent Trustee shall retire not later than the last day of the calendar year in which his or her 75th birthday occurs. The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees. Officers and Advisory Board Members hold office without limit in time, except that any officer or Advisory Board Member may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years.
Each fund’s Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-877-208-0098.
Experience, Skills, Attributes, and Qualifications of the Trustees. The Governance and Nominating Committee has adopted a statement of policy that describes the experience, qualifications, attributes, and skills that are necessary and desirable for potential Independent Trustee candidates (Statement of Policy). The Board believes that each Trustee satisfied at the time he or she was initially elected or appointed a Trustee, and continues to satisfy, the standards contemplated by the Statement of Policy. The Governance and Nominating Committee also engages professional search firms to help identify potential Independent Trustee candidates who have the experience, qualifications, attributes, and skills consistent with the Statement of Policy. From time to time, additional criteria based on the composition and skills of the current Independent Trustees, as well as experience or skills that may be appropriate in light of future changes to board composition, business conditions, and regulatory or other developments, have also been considered by the professional search firms and the Governance and Nominating Committee. In addition, the Board takes into account the Trustees' commitment and participation in Board and committee meetings, as well as their leadership of standing and ad hoc committees throughout their tenure.
In determining that a particular Trustee was and continues to be qualified to serve as a Trustee, the Board has considered a variety of criteria, none of which, in isolation, was controlling. The Board believes that, collectively, the Trustees have balanced and diverse experience, qualifications, attributes, and skills, which allow the Board to operate effectively in governing each fund and protecting the interests of shareholders. Information about the specific experience, skills, attributes, and qualifications of each Trustee, which in each case led to the Board's conclusion that the Trustee should serve (or continue to serve) as a trustee of the funds, is provided below.
Board Structure and Oversight Function. Abigail P. Johnson is an interested person and currently serves as Chairman. The Trustees have determined that an interested Chairman is appropriate and benefits shareholders because an interested Chairman has a personal and professional stake in the quality and continuity of services provided to the funds. Independent Trustees exercise their informed business judgment to appoint an individual of their choosing to serve as Chairman, regardless of whether the Trustee happens to be independent or a member of management. The Independent Trustees have determined that they can act independently and effectively without having an Independent Trustee serve as Chairman and that a key structural component for assuring that they are in a position to do so is for the Independent Trustees to constitute a substantial majority for the Board. The Independent Trustees also regularly meet in executive session. Arthur E. Johnson serves as Chairman of the Independent Trustees and as such (i) acts as a liaison between the Independent Trustees and management with respect to matters important to the Independent Trustees and (ii) with management prepares agendas for Board meetings.
Fidelity® funds are overseen by different Boards of Trustees. The funds' Board oversees Fidelity's investment-grade bond, money market, asset allocation and certain equity funds, and other Boards oversee Fidelity's high income and other equity funds. The asset allocation funds may invest in Fidelity® funds that are overseen by such other Boards. The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity® funds to focus on the unique issues of the funds they oversee, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity® funds overseen by each Board.
The Trustees operate using a system of committees to facilitate the timely and efficient consideration of all matters of importance to the Trustees, each fund, and fund shareholders and to facilitate compliance with legal and regulatory requirements and oversight of the funds' activities and associated risks. The Board, acting through its committees, has charged FMR and its affiliates with (i) identifying events or circumstances the occurrence of which could have demonstrably adverse effects on the funds' business and/or reputation; (ii) implementing processes and controls to lessen the possibility that such events or circumstances occur or to mitigate the effects of such events or circumstances if they do occur; and (iii) creating and maintaining a system designed to evaluate continuously business and market conditions in order to facilitate the identification and implementation processes described in (i) and (ii) above. Because the day-to-day operations and activities of the funds are carried out by or through FMR, its affiliates, and other service providers, the funds' exposure to risks is mitigated but not eliminated by the processes overseen by the Trustees. While each of the Board's committees has responsibility for overseeing different aspects of the funds' activities, oversight is exercised primarily through the Operations and Audit Committees. In addition, an ad hoc Board committee of Independent Trustees has worked with FMR to enhance the Board's oversight of investment and financial risks, legal and regulatory risks, technology risks, and operational risks, including the development of additional risk reporting to the Board. Appropriate personnel, including but not limited to the funds' Chief Compliance Officer (CCO), FMR's internal auditor, the independent accountants, the funds' Treasurer and portfolio management personnel, make periodic reports to the Board's committees, as appropriate, including an annual review of Fidelity's risk management program for the Fidelity® funds. The responsibilities of each standing committee, including their oversight responsibilities, are described further under "Standing Committees of the Trustees."
Interested Trustees*:
Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.
Name, Year of Birth; Principal Occupations and Other Relevant Experience+
Abigail P. Johnson (1961)
Year of Election or Appointment: 2009
Trustee
Chairman of the Board of Trustees
Ms. Johnson also serves as Trustee of other Fidelity® funds. Ms. Johnson serves as Chairman (2016-present), Chief Executive Officer (2014-present), and Director (2007-present) of FMR LLC (diversified financial services company), President of Fidelity Financial Services (2012-present) and President of Personal, Workplace and Institutional Services (2005-present). Ms. Johnson is Chairman and Director of Fidelity Management & Research Company LLC (investment adviser firm, 2011-present). Previously, Ms. Johnson served as Chairman and Director of FMR Co., Inc. (investment adviser firm, 2011-2019), Vice Chairman (2007-2016) and President (2013-2016) of FMR LLC, President and a Director of Fidelity Management & Research Company (2001-2005), a Trustee of other investment companies advised by Fidelity Management & Research Company, Fidelity Investments Money Management, Inc. (investment adviser firm), and FMR Co., Inc. (2001-2005), Senior Vice President of the Fidelity® funds (2001-2005), and managed a number of Fidelity® funds. Ms. Abigail P. Johnson and Mr. Arthur E. Johnson are not related.
Jennifer Toolin McAuliffe (1959)
Year of Election or Appointment: 2016
Trustee
Ms. McAuliffe also serves as Trustee of other Fidelity® funds and as Trustee of Fidelity Charitable (2020-present). Previously, Ms. McAuliffe served as Co-Head of Fixed Income of Fidelity Investments Limited (now known as FIL Limited (FIL)) (diversified financial services company), Director of Research for FIL’s credit and quantitative teams in London, Hong Kong and Tokyo and Director of Research for taxable and municipal bonds at Fidelity Investments Money Management, Inc. Ms. McAuliffe previously served as a member of the Advisory Board of certain Fidelity® funds (2016). Ms. McAuliffe was previously a lawyer at Ropes & Gray LLP and currently serves as director or trustee of several not-for-profit entities.
* Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.
+ The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for each fund.
Independent Trustees:
Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.
Name, Year of Birth; Principal Occupations and Other Relevant Experience+
Elizabeth S. Acton (1951)
Year of Election or Appointment: 2013
Trustee
Ms. Acton also serves as Trustee of other Fidelity® funds. Prior to her retirement, Ms. Acton served as Executive Vice President, Finance (2011-2012), Executive Vice President, Chief Financial Officer (2002-2011) and Treasurer (2004-2005) of Comerica Incorporated (financial services). Prior to joining Comerica, Ms. Acton held a variety of positions at Ford Motor Company (1983-2002), including Vice President and Treasurer (2000-2002) and Executive Vice President and Chief Financial Officer of Ford Motor Credit Company (1998-2000). Ms. Acton currently serves as a member of the Board and Audit and Finance Committees of Beazer Homes USA, Inc. (homebuilding, 2012-present). Ms. Acton previously served as a member of the Advisory Board of certain Fidelity® funds (2013-2016).
Ann E. Dunwoody (1953)
Year of Election or Appointment: 2018
Trustee
General Dunwoody also serves as Trustee of other Fidelity® funds. General Dunwoody (United States Army, Retired) was the first woman in U.S. military history to achieve the rank of four-star general and prior to her retirement in 2012 held a variety of positions within the U.S. Army, including Commanding General, U.S. Army Material Command (2008-2012). General Dunwoody currently serves as President of First to Four LLC (leadership and mentoring services, 2012-present), a member of the Board and Nomination and Corporate Governance Committees of Kforce Inc. (professional staffing services, 2016-present) and a member of the Board of Automattic Inc. (software engineering, 2018-present). Previously, General Dunwoody served as a member of the Advisory Board and Nominating and Corporate Governance Committee of L3 Technologies, Inc. (communication, electronic, sensor and aerospace systems, 2013-2019) and a member of the Board and Audit and Sustainability and Corporate Responsibility Committees of Republic Services, Inc. (waste collection, disposal and recycling, 2013-2016). Ms. Dunwoody also serves on several boards for non-profit organizations, including as a member of the Board, Chair of the Nomination and Governance Committee and a member of the Audit Committee of Logistics Management Institute (consulting non-profit, 2012-present), a member of the Council of Trustees for the Association of the United States Army (advocacy non-profit, 2013-present), a member of the Board of Florida Institute of Technology (2015-present) and a member of the Board of ThanksUSA (military family education non-profit, 2014-present). General Dunwoody previously served as a member of the Advisory Board of certain Fidelity® funds (2018).
John Engler (1948)
Year of Election or Appointment: 2014
Trustee
Mr. Engler also serves as Trustee of other Fidelity® funds. Previously, Mr. Engler served as Governor of Michigan (1991-2003), President of the Business Roundtable (2011-2017) and interim President of Michigan State University (2018-2019). Mr. Engler currently serves as a member of the Board of Stride, Inc. (formerly K12 Inc.) (technology-based education company, 2012-present). Previously, Mr. Engler served as a member of the Board of Universal Forest Products (manufacturer and distributor of wood and wood-alternative products, 2003-2019) and Trustee of The Munder Funds (2003-2014). Mr. Engler previously served as a member of the Advisory Board of certain Fidelity® funds (2014-2016).
Robert F. Gartland (1951)
Year of Election or Appointment: 2010
Trustee
Mr. Gartland also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Gartland held a variety of positions at Morgan Stanley (financial services, 1979-2007), including Managing Director (1987-2007) and Chase Manhattan Bank (1975-1978). Mr. Gartland previously served as Chairman and an investor in Gartland & Mellina Group Corp. (consulting, 2009-2019), as a member of the Board of National Securities Clearing Corporation (1993-1996) and as Chairman of TradeWeb (2003-2004).
Arthur E. Johnson (1947)
Year of Election or Appointment: 2008
Trustee
Chairman of the Independent Trustees
Mr. Johnson also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Johnson served as Senior Vice President of Corporate Strategic Development of Lockheed Martin Corporation (defense contractor, 1999-2009). Mr. Johnson currently serves as a member of the Board of Booz Allen Hamilton (management consulting, 2011-present). Mr. Johnson previously served as a member of the Board of Eaton Corporation plc (diversified power management, 2009-2019) and a member of the Board of AGL Resources, Inc. (holding company, 2002-2016). Mr. Johnson previously served as Vice Chairman (2015-2018) of the Independent Trustees of certain Fidelity® funds. Mr. Arthur E. Johnson is not related to Ms. Abigail P. Johnson.
Michael E. Kenneally (1954)
Year of Election or Appointment: 2009
Trustee
Vice Chairman of the Independent Trustees
Mr. Kenneally also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Kenneally served as Chairman and Global Chief Executive Officer of Credit Suisse Asset Management and as Executive Vice President and Chief Investment Officer for Bank of America Corporation, where he was responsible for the bank’s money-management products. Previously at Bank of America, Mr. Kenneally managed the principal investment research functions and also spent more than a decade as portfolio manager for various equity and fixed-income funds and institutional accounts. He began his career as a research analyst in 1983 and was awarded the Chartered Financial Analyst (CFA) designation in 1991.
Marie L. Knowles (1946)
Year of Election or Appointment: 2001
Trustee
Ms. Knowles also serves as Trustee of other Fidelity® funds. Prior to her retirement, Ms. Knowles held several positions at Atlantic Richfield Company (diversified energy), including Executive Vice President and Chief Financial Officer (1996-2000), Senior Vice President (1993-1996) and President of ARCO Transportation Company (pipeline and tanker operations, 1993-1996). Ms. Knowles currently serves as a member of the Board of McKesson Corporation (healthcare service, since 2002), a member of the Board of the Santa Catalina Island Company (real estate, 2009-present), a member of the Investment Company Institute Board of Governors and a member of the Governing Council of the Independent Directors Council (2014-present). Ms. Knowles also serves as a member of the Advisory Board for the School of Engineering of the University of Southern California. Ms. Knowles previously served as Chairman (2015-2018) and Vice Chairman (2012-2015) of the Independent Trustees of certain Fidelity® funds.
Mark A. Murray (1954)
Year of Election or Appointment: 2016
Trustee
Mr. Murray also serves as Trustee of other Fidelity® funds. Previously, Mr. Murray served as Co-Chief Executive Officer (2013-2016), President (2006-2013) and Vice Chairman (2013-2020) of Meijer, Inc. Mr. Murray serves as a member of the Board (2009-present) and Public Policy and Responsibility Committee (2009-present) and Chair of the Nuclear Review Committee (2019-present) of DTE Energy Company (diversified energy company). Mr. Murray previously served as a member of the Board of Spectrum Health (not-for-profit health system, 2015-2019) and as a member of the Board and Audit Committee and Chairman of the Nominating and Corporate Governance Committee of Universal Forest Products, Inc. (manufacturer and distributor of wood and wood-alternative products, 2004-2016). Mr. Murray also serves as a member of the Board of many community and professional organizations. Mr. Murray previously served as a member of the Advisory Board of certain Fidelity® funds (2016).
+ The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for each fund.
Advisory Board Members and Officers:
Correspondence intended for an officer may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210. Officers appear below in alphabetical order.
Name, Year of Birth; Principal Occupation
Craig S. Brown (1977)
Year of Election or Appointment: 2019
Assistant Treasurer
Mr. Brown also serves as Assistant Treasurer of other funds. Mr. Brown is an employee of Fidelity Investments (2013-present).
John J. Burke III (1964)
Year of Election or Appointment: 2018
Chief Financial Officer
Mr. Burke also serves as Chief Financial Officer of other funds. Mr. Burke serves as Head of Investment Operations for Fidelity Fund and Investment Operations (2018-present) and is an employee of Fidelity Investments (1998-present). Previously Mr. Burke served as head of Asset Management Investment Operations (2012-2018).
David J. Carter (1973)
Year of Election or Appointment: 2020
Assistant Secretary
Mr. Carter also serves as Assistant Secretary of other funds. Mr. Carter serves as Vice President, Associate General Counsel (2010-present) and is an employee of Fidelity Investments (2005-present).
Jonathan Davis (1968)
Year of Election or Appointment: 2010
Assistant Treasurer
Mr. Davis also serves as Assistant Treasurer of other funds. Mr. Davis serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments. Previously, Mr. Davis served as Vice President and Associate General Counsel of FMR LLC (diversified financial services company, 2003-2010).
Laura M. Del Prato (1964)
Year of Election or Appointment: 2018
President and Treasurer
Ms. Del Prato also serves as an officer of other funds. Ms. Del Prato is an employee of Fidelity Investments (2017-present). Previously, Ms. Del Prato served as President and Treasurer of The North Carolina Capital Management Trust: Cash Portfolio and Term Portfolio (2018-2020). Prior to joining Fidelity Investments, Ms. Del Prato served as a Managing Director and Treasurer of the JPMorgan Mutual Funds (2014-2017). Prior to JPMorgan, Ms. Del Prato served as a partner at Cohen Fund Audit Services (accounting firm, 2012-2013) and KPMG LLP (accounting firm, 2004-2012).
Colm A. Hogan (1973)
Year of Election or Appointment: 2016
Assistant Treasurer
Mr. Hogan also serves as an officer of other funds. Mr. Hogan serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2005-present). Previously, Mr. Hogan served as Deputy Treasurer of certain Fidelity® funds (2016-2020) and Assistant Treasurer of certain Fidelity® funds (2016-2018).
Cynthia Lo Bessette (1969)
Year of Election or Appointment: 2019
Secretary and Chief Legal Officer (CLO)
Ms. Lo Bessette also serves as an officer of other funds. Ms. Lo Bessette serves as CLO, Secretary, and Senior Vice President of Fidelity Management & Research Company LLC (investment adviser firm, 2019-present); and CLO of Fidelity Management & Research (Hong Kong) Limited, FMR Investment Management (UK) Limited, and Fidelity Management & Research (Japan) Limited (investment adviser firms, 2019-present). She is a Senior Vice President and Deputy General Counsel of FMR LLC (diversified financial services company, 2019-present), and is an employee of Fidelity Investments. Previously, Ms. Lo Bessette served as CLO, Secretary, and Senior Vice President of FMR Co., Inc. (investment adviser firm, 2019); Secretary of Fidelity SelectCo, LLC and Fidelity Investments Money Management, Inc. (investment adviser firms, 2019). Prior to joining Fidelity Investments, Ms. Lo Bessette was Executive Vice President, General Counsel (2016-2019) and Senior Vice President, Deputy General Counsel (2015-2016) of OppenheimerFunds (investment management company) and Deputy Chief Legal Officer (2013-2015) of Jennison Associates LLC (investment adviser firm).
Chris Maher (1972)
Year of Election or Appointment: 2013
Assistant Treasurer
Mr. Maher also serves as an officer of other funds. Mr. Maher serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), and is an employee of Fidelity Investments (2008-present). Previously, Mr. Maher served as Assistant Treasurer of certain funds (2013-2020); Vice President of Asset Management Compliance (2013), Vice President of the Program Management Group of FMR (investment adviser firm, 2010-2013), and Vice President of Valuation Oversight (2008-2010).
Kenneth B. Robins (1969)
Year of Election or Appointment: 2020
Chief Compliance Officer
Mr. Robins also serves as an officer of other funds. Mr. Robins serves as Compliance Officer of Fidelity Management & Research Company LLC (investment adviser firm, 2016-present) and is an employee of Fidelity Investments (2004-present). Previously, Mr. Robins served as Compliance Officer of FMR Co., Inc. (investment adviser firm, 2016-2019), as Executive Vice President of Fidelity Investments Money Management, Inc. (investment adviser firm, 2013-2016) and served in other fund officer roles.
Brett Segaloff (1972)
Year of Election or Appointment: 2021
Anti-Money Laundering (AML) Officer
Mr. Segaloff also serves as an AML Officer of other funds and other related entities. He is Director, Anti-Money Laundering (2007-present) of FMR LLC (diversified financial services company) and is an employee of Fidelity Investments (1996-present).
Stacie M. Smith (1974)
Year of Election or Appointment: 2013
Assistant Treasurer
Ms. Smith also serves as an officer of other funds. Ms. Smith serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), is an employee of Fidelity Investments (2009-present), and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Smith served as Senior Audit Manager of Ernst & Young LLP (accounting firm, 1996-2009). Previously, Ms. Smith served as Assistant Treasurer (2013-2019) and Deputy Treasurer (2013-2016) of certain Fidelity® funds.
Marc L. Spector (1972)
Year of Election or Appointment: 2016
Deputy Treasurer
Mr. Spector also serves as an officer of other funds. Mr. Spector serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2016-present). Prior to joining Fidelity Investments, Mr. Spector served as Director at the Siegfried Group (accounting firm, 2013-2016), and prior to Siegfried Group as audit senior manager at Deloitte & Touche LLP (accounting firm, 2005-2013).
Jim Wegmann (1979)
Year of Election or Appointment: 2019
Assistant Treasurer
Mr. Wegmann also serves as Assistant Treasurer of other funds. Mr. Wegmann is an employee of Fidelity Investments (2011-present).
Vadim Zlotnikov (1962)
Year of Election or Appointment: 2019
Vice President
Mr. Zlotnikov also serves as Vice President of other funds. Mr. Zlotnikov serves as President of FIAM (Fidelity Institutional Asset Management) and is an employee of Fidelity Investments (2018-present). Previously, Mr. Zlotnikov served as President and Chief Investment Officer of Global Asset Allocation (2018-2020). Prior to joining Fidelity Investments, Mr. Zlotnikov served as Co-Head of Multi-Asset Solutions, Chief Market Strategist, and CIO of Systematic Strategies with AllianceBernstein (investment adviser firm, 2002-2018).
Shareholder Expense Example
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (October 1, 2020 to March 31, 2021).
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
| | Annualized Expense Ratio-A | Beginning
Account Value
October 1, 2020 | Ending
Account Value
March 31, 2021 | Expenses Paid
During Period-B
October 1, 2020
to March 31, 2021 |
| Fidelity Advisor Freedom Income Fund | | | | |
| Class A | .72% | | | |
| Actual | | $1,000.00 | $1,039.60 | $3.66 |
| Hypothetical-C | | $1,000.00 | $1,021.34 | $3.63 |
| Class M | .97% | | | |
| Actual | | $1,000.00 | $1,037.60 | $4.93 |
| Hypothetical-C | | $1,000.00 | $1,020.09 | $4.89 |
| Class C | 1.47% | | | |
| Actual | | $1,000.00 | $1,035.40 | $7.46 |
| Hypothetical-C | | $1,000.00 | $1,017.60 | $7.39 |
| Class I | .47% | | | |
| Actual | | $1,000.00 | $1,040.50 | $2.39 |
| Hypothetical-C | | $1,000.00 | $1,022.59 | $2.37 |
| Class Z | .42% | | | |
| Actual | | $1,000.00 | $1,040.80 | $2.14 |
| Hypothetical-C | | $1,000.00 | $1,022.84 | $2.12 |
| Class Z6 | .37% | | | |
| Actual | | $1,000.00 | $1,041.20 | $1.88 |
| Hypothetical-C | | $1,000.00 | $1,023.09 | $1.87 |
| Fidelity Advisor Freedom 2005 Fund | | | | |
| Class A | .72% | | | |
| Actual | | $1,000.00 | $1,050.70 | $3.68 |
| Hypothetical-C | | $1,000.00 | $1,021.34 | $3.63 |
| Class M | .97% | | | |
| Actual | | $1,000.00 | $1,050.00 | $4.96 |
| Hypothetical-C | | $1,000.00 | $1,020.09 | $4.89 |
| Class C | 1.47% | | | |
| Actual | | $1,000.00 | $1,046.80 | $7.50 |
| Hypothetical-C | | $1,000.00 | $1,017.60 | $7.39 |
| Class I | .47% | | | |
| Actual | | $1,000.00 | $1,052.60 | $2.41 |
| Hypothetical-C | | $1,000.00 | $1,022.59 | $2.37 |
| Class Z | .42% | | | |
| Actual | | $1,000.00 | $1,052.50 | $2.15 |
| Hypothetical-C | | $1,000.00 | $1,022.84 | $2.12 |
| Class Z6 | .37% | | | |
| Actual | | $1,000.00 | $1,052.90 | $1.89 |
| Hypothetical-C | | $1,000.00 | $1,023.09 | $1.87 |
| Fidelity Advisor Freedom 2010 Fund | | | | |
| Class A | .76% | | | |
| Actual | | $1,000.00 | $1,072.00 | $3.93 |
| Hypothetical-C | | $1,000.00 | $1,021.14 | $3.83 |
| Class M | 1.01% | | | |
| Actual | | $1,000.00 | $1,070.70 | $5.21 |
| Hypothetical-C | | $1,000.00 | $1,019.90 | $5.09 |
| Class C | 1.51% | | | |
| Actual | | $1,000.00 | $1,068.70 | $7.79 |
| Hypothetical-C | | $1,000.00 | $1,017.40 | $7.59 |
| Class I | .51% | | | |
| Actual | | $1,000.00 | $1,073.80 | $2.64 |
| Hypothetical-C | | $1,000.00 | $1,022.39 | $2.57 |
| Class Z | .45% | | | |
| Actual | | $1,000.00 | $1,074.70 | $2.33 |
| Hypothetical-C | | $1,000.00 | $1,022.69 | $2.27 |
| Class Z6 | .38% | | | |
| Actual | | $1,000.00 | $1,074.50 | $1.97 |
| Hypothetical-C | | $1,000.00 | $1,023.04 | $1.92 |
| Fidelity Advisor Freedom 2015 Fund | | | | |
| Class A | .80% | | | |
| Actual | | $1,000.00 | $1,095.00 | $4.18 |
| Hypothetical-C | | $1,000.00 | $1,020.94 | $4.03 |
| Class M | 1.05% | | | |
| Actual | | $1,000.00 | $1,093.40 | $5.48 |
| Hypothetical-C | | $1,000.00 | $1,019.70 | $5.29 |
| Class C | 1.55% | | | |
| Actual | | $1,000.00 | $1,090.20 | $8.08 |
| Hypothetical-C | | $1,000.00 | $1,017.20 | $7.80 |
| Class I | .55% | | | |
| Actual | | $1,000.00 | $1,096.00 | $2.87 |
| Hypothetical-C | | $1,000.00 | $1,022.19 | $2.77 |
| Class Z | .48% | | | |
| Actual | | $1,000.00 | $1,096.70 | $2.51 |
| Hypothetical-C | | $1,000.00 | $1,022.54 | $2.42 |
| Class Z6 | .40% | | | |
| Actual | | $1,000.00 | $1,096.30 | $2.09 |
| Hypothetical-C | | $1,000.00 | $1,022.94 | $2.02 |
| Fidelity Advisor Freedom 2020 Fund | | | | |
| Class A | .84% | | | |
| Actual | | $1,000.00 | $1,116.20 | $4.43 |
| Hypothetical-C | | $1,000.00 | $1,020.74 | $4.23 |
| Class M | 1.09% | | | |
| Actual | | $1,000.00 | $1,115.10 | $5.75 |
| Hypothetical-C | | $1,000.00 | $1,019.50 | $5.49 |
| Class C | 1.60% | | | |
| Actual | | $1,000.00 | $1,111.90 | $8.42 |
| Hypothetical-C | | $1,000.00 | $1,016.95 | $8.05 |
| Class I | .59% | | | |
| Actual | | $1,000.00 | $1,117.90 | $3.12 |
| Hypothetical-C | | $1,000.00 | $1,021.99 | $2.97 |
| Class Z | .52% | | | |
| Actual | | $1,000.00 | $1,118.20 | $2.75 |
| Hypothetical-C | | $1,000.00 | $1,022.34 | $2.62 |
| Class Z6 | .42% | | | |
| Actual | | $1,000.00 | $1,118.70 | $2.22 |
| Hypothetical-C | | $1,000.00 | $1,022.84 | $2.12 |
| Fidelity Advisor Freedom 2025 Fund | | | | |
| Class A | .89% | | | |
| Actual | | $1,000.00 | $1,132.10 | $4.73 |
| Hypothetical-C | | $1,000.00 | $1,020.49 | $4.48 |
| Class M | 1.14% | | | |
| Actual | | $1,000.00 | $1,130.60 | $6.06 |
| Hypothetical-C | | $1,000.00 | $1,019.25 | $5.74 |
| Class C | 1.64% | | | |
| Actual | | $1,000.00 | $1,128.20 | $8.70 |
| Hypothetical-C | | $1,000.00 | $1,016.75 | $8.25 |
| Class I | .64% | | | |
| Actual | | $1,000.00 | $1,133.40 | $3.40 |
| Hypothetical-C | | $1,000.00 | $1,021.74 | $3.23 |
| Class Z | .55% | | | |
| Actual | | $1,000.00 | $1,134.10 | $2.93 |
| Hypothetical-C | | $1,000.00 | $1,022.19 | $2.77 |
| Class Z6 | .44% | | | |
| Actual | | $1,000.00 | $1,134.20 | $2.34 |
| Hypothetical-C | | $1,000.00 | $1,022.74 | $2.22 |
| Fidelity Advisor Freedom 2030 Fund | | | | |
| Class A | .93% | | | |
| Actual | | $1,000.00 | $1,152.00 | $4.99 |
| Hypothetical-C | | $1,000.00 | $1,020.29 | $4.68 |
| Class M | 1.18% | | | |
| Actual | | $1,000.00 | $1,149.90 | $6.32 |
| Hypothetical-C | | $1,000.00 | $1,019.05 | $5.94 |
| Class C | 1.68% | | | |
| Actual | | $1,000.00 | $1,147.50 | $8.99 |
| Hypothetical-C | | $1,000.00 | $1,016.55 | $8.45 |
| Class I | .68% | | | |
| Actual | | $1,000.00 | $1,153.00 | $3.65 |
| Hypothetical-C | | $1,000.00 | $1,021.54 | $3.43 |
| Class Z | .59% | | | |
| Actual | | $1,000.00 | $1,153.70 | $3.17 |
| Hypothetical-C | | $1,000.00 | $1,021.99 | $2.97 |
| Class Z6 | .46% | | | |
| Actual | | $1,000.00 | $1,154.50 | $2.47 |
| Hypothetical-C | | $1,000.00 | $1,022.64 | $2.32 |
| Fidelity Advisor Freedom 2035 Fund | | | | |
| Class A | .97% | | | |
| Actual | | $1,000.00 | $1,191.10 | $5.30 |
| Hypothetical-C | | $1,000.00 | $1,020.09 | $4.89 |
| Class M | 1.22% | | | |
| Actual | | $1,000.00 | $1,189.70 | $6.66 |
| Hypothetical-C | | $1,000.00 | $1,018.85 | $6.14 |
| Class C | 1.72% | | | |
| Actual | | $1,000.00 | $1,187.00 | $9.38 |
| Hypothetical-C | | $1,000.00 | $1,016.36 | $8.65 |
| Class I | .72% | | | |
| Actual | | $1,000.00 | $1,192.80 | $3.94 |
| Hypothetical-C | | $1,000.00 | $1,021.34 | $3.63 |
| Class Z | .62% | | | |
| Actual | | $1,000.00 | $1,193.20 | $3.39 |
| Hypothetical-C | | $1,000.00 | $1,021.84 | $3.13 |
| Class Z6 | .48% | | | |
| Actual | | $1,000.00 | $1,193.90 | $2.63 |
| Hypothetical-C | | $1,000.00 | $1,022.54 | $2.42 |
| Fidelity Advisor Freedom 2040 Fund | | | | |
| Class A | 1.00% | | | |
| Actual | | $1,000.00 | $1,216.60 | $5.53 |
| Hypothetical-C | | $1,000.00 | $1,019.95 | $5.04 |
| Class M | 1.25% | | | |
| Actual | | $1,000.00 | $1,215.30 | $6.90 |
| Hypothetical-C | | $1,000.00 | $1,018.70 | $6.29 |
| Class C | 1.75% | | | |
| Actual | | $1,000.00 | $1,212.10 | $9.65 |
| Hypothetical-C | | $1,000.00 | $1,016.21 | $8.80 |
| Class I | .75% | | | |
| Actual | | $1,000.00 | $1,218.30 | $4.15 |
| Hypothetical-C | | $1,000.00 | $1,021.19 | $3.78 |
| Class Z | .64% | | | |
| Actual | | $1,000.00 | $1,218.80 | $3.54 |
| Hypothetical-C | | $1,000.00 | $1,021.74 | $3.23 |
| Class Z6 | .49% | | | |
| Actual | | $1,000.00 | $1,219.30 | $2.71 |
| Hypothetical-C | | $1,000.00 | $1,022.49 | $2.47 |
| Fidelity Advisor Freedom 2045 Fund | | | | |
| Class A | 1.00% | | | |
| Actual | | $1,000.00 | $1,216.90 | $5.53 |
| Hypothetical-C | | $1,000.00 | $1,019.95 | $5.04 |
| Class M | 1.25% | | | |
| Actual | | $1,000.00 | $1,215.20 | $6.90 |
| Hypothetical-C | | $1,000.00 | $1,018.70 | $6.29 |
| Class C | 1.75% | | | |
| Actual | | $1,000.00 | $1,212.10 | $9.65 |
| Hypothetical-C | | $1,000.00 | $1,016.21 | $8.80 |
| Class I | .75% | | | |
| Actual | | $1,000.00 | $1,218.70 | $4.15 |
| Hypothetical-C | | $1,000.00 | $1,021.19 | $3.78 |
| Class Z | .64% | | | |
| Actual | | $1,000.00 | $1,218.40 | $3.54 |
| Hypothetical-C | | $1,000.00 | $1,021.74 | $3.23 |
| Class Z6 | .49% | | | |
| Actual | | $1,000.00 | $1,219.90 | $2.71 |
| Hypothetical-C | | $1,000.00 | $1,022.49 | $2.47 |
| Fidelity Advisor Freedom 2050 Fund | | | | |
| Class A | 1.00% | | | |
| Actual | | $1,000.00 | $1,217.00 | $5.53 |
| Hypothetical-C | | $1,000.00 | $1,019.95 | $5.04 |
| Class M | 1.25% | | | |
| Actual | | $1,000.00 | $1,215.40 | $6.90 |
| Hypothetical-C | | $1,000.00 | $1,018.70 | $6.29 |
| Class C | 1.75% | | | |
| Actual | | $1,000.00 | $1,212.30 | $9.65 |
| Hypothetical-C | | $1,000.00 | $1,016.21 | $8.80 |
| Class I | .75% | | | |
| Actual | | $1,000.00 | $1,217.90 | $4.15 |
| Hypothetical-C | | $1,000.00 | $1,021.19 | $3.78 |
| Class Z | .64% | | | |
| Actual | | $1,000.00 | $1,219.40 | $3.54 |
| Hypothetical-C | | $1,000.00 | $1,021.74 | $3.23 |
| Class Z6 | .49% | | | |
| Actual | | $1,000.00 | $1,219.00 | $2.71 |
| Hypothetical-C | | $1,000.00 | $1,022.49 | $2.47 |
| Fidelity Advisor Freedom 2055 Fund | | | | |
| Class A | 1.00% | | | |
| Actual | | $1,000.00 | $1,216.90 | $5.53 |
| Hypothetical-C | | $1,000.00 | $1,019.95 | $5.04 |
| Class M | 1.25% | | | |
| Actual | | $1,000.00 | $1,215.50 | $6.90 |
| Hypothetical-C | | $1,000.00 | $1,018.70 | $6.29 |
| Class C | 1.75% | | | |
| Actual | | $1,000.00 | $1,211.80 | $9.65 |
| Hypothetical-C | | $1,000.00 | $1,016.21 | $8.80 |
| Class I | .75% | | | |
| Actual | | $1,000.00 | $1,218.50 | $4.15 |
| Hypothetical-C | | $1,000.00 | $1,021.19 | $3.78 |
| Class Z | .64% | | | |
| Actual | | $1,000.00 | $1,219.20 | $3.54 |
| Hypothetical-C | | $1,000.00 | $1,021.74 | $3.23 |
| Class Z6 | .49% | | | |
| Actual | | $1,000.00 | $1,220.20 | $2.71 |
| Hypothetical-C | | $1,000.00 | $1,022.49 | $2.47 |
| Fidelity Advisor Freedom 2060 Fund | | | | |
| Class A | 1.00% | | | |
| Actual | | $1,000.00 | $1,216.10 | $5.53 |
| Hypothetical-C | | $1,000.00 | $1,019.95 | $5.04 |
| Class M | 1.25% | | | |
| Actual | | $1,000.00 | $1,215.30 | $6.90 |
| Hypothetical-C | | $1,000.00 | $1,018.70 | $6.29 |
| Class C | 1.75% | | | |
| Actual | | $1,000.00 | $1,212.40 | $9.65 |
| Hypothetical-C | | $1,000.00 | $1,016.21 | $8.80 |
| Class I | .75% | | | |
| Actual | | $1,000.00 | $1,218.60 | $4.15 |
| Hypothetical-C | | $1,000.00 | $1,021.19 | $3.78 |
| Class Z | .64% | | | |
| Actual | | $1,000.00 | $1,218.80 | $3.54 |
| Hypothetical-C | | $1,000.00 | $1,021.74 | $3.23 |
| Class Z6 | .49% | | | |
| Actual | | $1,000.00 | $1,220.10 | $2.71 |
| Hypothetical-C | | $1,000.00 | $1,022.49 | $2.47 |
| Fidelity Advisor Freedom 2065 Fund | | | | |
| Class A | 1.00% | | | |
| Actual | | $1,000.00 | $1,216.20 | $5.53 |
| Hypothetical-C | | $1,000.00 | $1,019.95 | $5.04 |
| Class M | 1.25% | | | |
| Actual | | $1,000.00 | $1,215.70 | $6.91 |
| Hypothetical-C | | $1,000.00 | $1,018.70 | $6.29 |
| Class C | 1.75% | | | |
| Actual | | $1,000.00 | $1,212.60 | $9.65 |
| Hypothetical-C | | $1,000.00 | $1,016.21 | $8.80 |
| Class I | .74% | | | |
| Actual | | $1,000.00 | $1,219.10 | $4.09 |
| Hypothetical-C | | $1,000.00 | $1,021.24 | $3.73 |
| Class Z | .65% | | | |
| Actual | | $1,000.00 | $1,220.10 | $3.60 |
| Hypothetical-C | | $1,000.00 | $1,021.69 | $3.28 |
| Class Z6 | .49% | | | |
| Actual | | $1,000.00 | $1,220.60 | $2.71 |
| Hypothetical-C | | $1,000.00 | $1,022.49 | $2.47 |
A Annualized expense ratio reflects expenses net of applicable fee waivers.
B Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 365 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
C 5% return per year before expenses
Distributions (Unaudited)
The Board of Trustees of each fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities and dividends derived from net investment income:
| | Pay Date | Record Date | Dividends | Capital Gains |
| Fidelity Advisor Freedom Income Fund | | | | |
| Class A | 05/10/21 | 05/07/21 | $0.000 | $0.192 |
| Class M | 05/10/21 | 05/07/21 | $0.000 | $0.191 |
| Class C | 05/10/21 | 05/07/21 | $0.000 | $0.189 |
| Class I | 05/10/21 | 05/07/21 | $0.001 | $0.192 |
| Class Z | 05/10/21 | 05/07/21 | $0.001 | $0.192 |
| Class Z6 | 05/10/21 | 05/07/21 | $0.001 | $0.192 |
| Fidelity Advisor Freedom 2005 Fund | | | | |
| Class A | 05/17/21 | 05/14/21 | $0.008 | $0.309 |
| Class M | 05/17/21 | 05/14/21 | $0.000 | $0.309 |
| Class C | 05/17/21 | 05/14/21 | $0.000 | $0.308 |
| Class I | 05/17/21 | 05/14/21 | $0.015 | $0.309 |
| Class Z | 05/17/21 | 05/14/21 | $0.018 | $0.309 |
| Class Z6 | 05/17/21 | 05/14/21 | $0.020 | $0.309 |
| Fidelity Advisor Freedom 2010 Fund | | | | |
| Class A | 05/17/21 | 05/14/21 | $0.003 | $0.457 |
| Class M | 05/17/21 | 05/14/21 | $0.000 | $0.454 |
| Class C | 05/17/21 | 05/14/21 | $0.000 | $0.454 |
| Class I | 05/17/21 | 05/14/21 | $0.010 | $0.457 |
| Class Z | 05/17/21 | 05/14/21 | $0.014 | $0.457 |
| Class Z6 | 05/17/21 | 05/14/21 | $0.016 | $0.457 |
| Fidelity Advisor Freedom 2015 Fund | | | | |
| Class A | 05/17/21 | 05/14/21 | $0.000 | $0.536 |
| Class M | 05/17/21 | 05/14/21 | $0.000 | $0.535 |
| Class C | 05/17/21 | 05/14/21 | $0.000 | $0.535 |
| Class I | 05/17/21 | 05/14/21 | $0.002 | $0.542 |
| Class Z | 05/17/21 | 05/14/21 | $0.005 | $0.542 |
| Class Z6 | 05/17/21 | 05/14/21 | $0.007 | $0.542 |
| Fidelity Advisor Freedom 2020 Fund | | | | |
| Class A | 05/17/21 | 05/14/21 | $0.000 | $0.664 |
| Class M | 05/17/21 | 05/14/21 | $0.000 | $0.664 |
| Class C | 05/17/21 | 05/14/21 | $0.000 | $0.664 |
| Class I | 05/17/21 | 05/14/21 | $0.000 | $0.666 |
| Class Z | 05/17/21 | 05/14/21 | $0.000 | $0.669 |
| Class Z6 | 05/17/21 | 05/14/21 | $0.000 | $0.673 |
| Fidelity Advisor Freedom 2025 Fund | | | | |
| Class A | 05/17/21 | 05/14/21 | $0.000 | $0.601 |
| Class M | 05/17/21 | 05/14/21 | $0.000 | $0.601 |
| Class C | 05/17/21 | 05/14/21 | $0.000 | $0.601 |
| Class I | 05/17/21 | 05/14/21 | $0.000 | $0.601 |
| Class Z | 05/17/21 | 05/14/21 | $0.000 | $0.601 |
| Class Z6 | 05/17/21 | 05/14/21 | $0.000 | $0.601 |
| Fidelity Advisor Freedom 2030 Fund | | | | |
| Class A | 05/17/21 | 05/14/21 | $0.000 | $0.683 |
| Class M | 05/17/21 | 05/14/21 | $0.000 | $0.683 |
| Class C | 05/17/21 | 05/14/21 | $0.000 | $0.683 |
| Class I | 05/17/21 | 05/14/21 | $0.000 | $0.683 |
| Class Z | 05/17/21 | 05/14/21 | $0.000 | $0.683 |
| Class Z6 | 05/17/21 | 05/14/21 | $0.000 | $0.683 |
| Fidelity Advisor Freedom 2035 Fund | | | | |
| Class A | 05/17/21 | 05/14/21 | $0.000 | $0.703 |
| Class M | 05/17/21 | 05/14/21 | $0.000 | $0.703 |
| Class C | 05/17/21 | 05/14/21 | $0.000 | $0.703 |
| Class I | 05/17/21 | 05/14/21 | $0.000 | $0.703 |
| Class Z | 05/17/21 | 05/14/21 | $0.000 | $0.703 |
| Class Z6 | 05/17/21 | 05/14/21 | $0.000 | $0.703 |
| Fidelity Advisor Freedom 2040 Fund | | | | |
| Class A | 05/17/21 | 05/14/21 | $0.000 | $0.823 |
| Class M | 05/17/21 | 05/14/21 | $0.000 | $0.823 |
| Class C | 05/17/21 | 05/14/21 | $0.000 | $0.823 |
| Class I | 05/17/21 | 05/14/21 | $0.000 | $0.823 |
| Class Z | 05/17/21 | 05/14/21 | $0.000 | $0.823 |
| Class Z6 | 05/17/21 | 05/14/21 | $0.000 | $0.823 |
| Fidelity Advisor Freedom 2045 Fund | | | | |
| Class A | 05/17/21 | 05/14/21 | $0.000 | $0.623 |
| Class M | 05/17/21 | 05/14/21 | $0.000 | $0.623 |
| Class C | 05/17/21 | 05/14/21 | $0.000 | $0.623 |
| Class I | 05/17/21 | 05/14/21 | $0.000 | $0.623 |
| Class Z | 05/17/21 | 05/14/21 | $0.000 | $0.623 |
| Class Z6 | 05/17/21 | 05/14/21 | $0.000 | $0.623 |
| Fidelity Advisor Freedom 2050 Fund | | | | |
| Class A | 05/17/21 | 05/14/21 | $0.000 | $0.605 |
| Class M | 05/17/21 | 05/14/21 | $0.000 | $0.605 |
| Class C | 05/17/21 | 05/14/21 | $0.000 | $0.605 |
| Class I | 05/17/21 | 05/14/21 | $0.000 | $0.605 |
| Class Z | 05/17/21 | 05/14/21 | $0.000 | $0.605 |
| Class Z6 | 05/17/21 | 05/14/21 | $0.000 | $0.605 |
| Fidelity Advisor Freedom 2055 Fund | | | | |
| Class A | 05/17/21 | 05/14/21 | $0.000 | $0.661 |
| Class M | 05/17/21 | 05/14/21 | $0.000 | $0.661 |
| Class C | 05/17/21 | 05/14/21 | $0.000 | $0.661 |
| Class I | 05/17/21 | 05/14/21 | $0.000 | $0.661 |
| Class Z | 05/17/21 | 05/14/21 | $0.000 | $0.661 |
| Class Z6 | 05/17/21 | 05/14/21 | $0.000 | $0.661 |
| Fidelity Advisor Freedom 2060 Fund | | | | |
| Class A | 05/17/21 | 05/14/21 | $0.000 | $0.536 |
| Class M | 05/17/21 | 05/14/21 | $0.000 | $0.532 |
| Class C | 05/17/21 | 05/14/21 | $0.000 | $0.532 |
| Class I | 05/17/21 | 05/14/21 | $0.000 | $0.546 |
| Class Z | 05/17/21 | 05/14/21 | $0.000 | $0.551 |
| Class Z6 | 05/17/21 | 05/14/21 | $0.000 | $0.555 |
| Fidelity Advisor Freedom 2065 Fund | | | | |
| Class A | 05/17/21 | 05/14/21 | $0.000 | $0.315 |
| Class M | 05/17/21 | 05/14/21 | $0.000 | $0.306 |
| Class C | 05/17/21 | 05/14/21 | $0.000 | $0.302 |
| Class I | 05/17/21 | 05/14/21 | $0.000 | $0.323 |
| Class Z | 05/17/21 | 05/14/21 | $0.000 | $0.322 |
| Class Z6 | 05/17/21 | 05/14/21 | $0.000 | $0.328 |
|
The funds hereby designate as capital gain dividend the amounts noted below for the taxable year ended March 31, 2021, or, if subsequently determined to be different, the net capital gain of such year.
| Fidelity Advisor Freedom Income Fund | $4,836,170 |
| Fidelity Advisor Freedom 2005 Fund | $6,133,253 |
| Fidelity Advisor Freedom 2010 Fund | $19,318,041 |
| Fidelity Advisor Freedom 2015 Fund | $51,035,694 |
| Fidelity Advisor Freedom 2020 Fund | $137,358,167 |
| Fidelity Advisor Freedom 2025 Fund | $170,571,425 |
| Fidelity Advisor Freedom 2030 Fund | $196,180,534 |
| Fidelity Advisor Freedom 2035 Fund | $164,852,069 |
| Fidelity Advisor Freedom 2040 Fund | $154,103,747 |
| Fidelity Advisor Freedom 2045 Fund | $98,637,981 |
| Fidelity Advisor Freedom 2050 Fund | $78,743,725 |
| Fidelity Advisor Freedom 2055 Fund | $44,646,390 |
| Fidelity Advisor Freedom 2060 Fund | $14,382,269 |
| Fidelity Advisor Freedom 2065 Fund | $698,804 |
|
A percentage of the dividends distributed during the fiscal year for the following funds were derived from interest on U.S. Government securities which is generally exempt from state income tax:
| Fidelity Advisor Freedom Income Fund | |
| Class A | 17.69% |
| Class M | 17.69% |
| Class C | 17.69% |
| Class I | 17.69% |
| Class Z | 17.69% |
| Class Z6 | 17.69% |
| Fidelity Advisor Freedom 2005 Fund | |
| Class A | 16.05% |
| Class M | 16.05% |
| Class C | 16.05% |
| Class I | 16.05% |
| Class Z | 16.05% |
| Class Z6 | 16.05% |
| Fidelity Advisor Freedom 2010 Fund | |
| Class A | 13.57% |
| Class M | 13.57% |
| Class C | 13.57% |
| Class I | 13.57% |
| Class Z | 13.57% |
| Class Z6 | 13.57% |
| Fidelity Advisor Freedom 2015 Fund | |
| Class A | 11.51% |
| Class M | 11.51% |
| Class C | 11.51% |
| Class I | 11.51% |
| Class Z | 11.51% |
| Class Z6 | 11.51% |
| Fidelity Advisor Freedom 2020 Fund | |
| Class A | 9.85% |
| Class M | 9.85% |
| Class C | 9.85% |
| Class I | 9.85% |
| Class Z | 9.85% |
| Class Z6 | 9.85% |
| Fidelity Advisor Freedom 2025 Fund | |
| Class A | 8.74% |
| Class M | 8.74% |
| Class C | 8.74% |
| Class I | 8.74% |
| Class Z | 8.74% |
| Class Z6 | 8.74% |
| Fidelity Advisor Freedom 2030 Fund | |
| Class A | 7.58% |
| Class M | 7.58% |
| Class C | 7.58% |
| Class I | 7.58% |
| Class Z | 7.58% |
| Class Z6 | 7.58% |
| Fidelity Advisor Freedom 2035 Fund | |
| Class A | 5.22% |
| Class M | 5.22% |
| Class C | 5.22% |
| Class I | 5.22% |
| Class Z | 5.22% |
| Class Z6 | 5.22% |
| Fidelity Advisor Freedom 2040 Fund | |
| Class A | 4.20% |
| Class M | 4.20% |
| Class C | 4.20% |
| Class I | 4.20% |
| Class Z | 4.20% |
| Class Z6 | 4.20% |
| Fidelity Advisor Freedom 2045 Fund | |
| Class A | 4.18% |
| Class M | 4.18% |
| Class C | 4.18% |
| Class I | 4.18% |
| Class Z | 4.18% |
| Class Z6 | 4.18% |
| Fidelity Advisor Freedom 2050 Fund | |
| Class A | 4.17% |
| Class M | 4.17% |
| Class C | 4.17% |
| Class I | 4.17% |
| Class Z | 4.17% |
| Class Z6 | 4.17% |
| Fidelity Advisor Freedom 2055 Fund | |
| Class A | 4.15% |
| Class M | 4.15% |
| Class C | 4.15% |
| Class I | 4.15% |
| Class Z | 4.15% |
| Class Z6 | 4.15% |
| Fidelity Advisor Freedom 2060 Fund | |
| Class A | 4.10% |
| Class M | 4.10% |
| Class C | 4.10% |
| Class I | 4.10% |
| Class Z | 4.10% |
| Class Z6 | 4.10% |
| Fidelity Advisor Freedom 2065 Fund | |
| Class A | 3.86% |
| Class M | 3.86% |
| Class C | 3.86% |
| Class I | 3.86% |
| Class Z | 3.86% |
| Class Z6 | 3.86% |
|
A percentage of the dividends distributed during the fiscal year for the following funds qualify for the dividends–received deduction for corporate shareholders:
| | Class A | Class M | Class C | Class I | Class Z | Class Z6 |
| Fidelity Advisor Freedom Income Fund | | | | | | |
| April 2020 | 0% | 0% | 0% | 0% | 0% | 0% |
| May 2020 | 0% | 0% | 0% | 0% | 0% | 0% |
| June 2020 | 0% | 0% | – | 0% | 0% | 0% |
| July 2020 | 5% | 8% | – | 4% | 4% | 3% |
| August 2020 | 5% | 7% | – | 4% | 3% | 3% |
| September 2020 | 5% | 7% | – | 4% | 3% | 3% |
| October 2020 | 5% | 7% | – | 4% | 4% | 3% |
| November 2020 | 5% | 20% | – | 3% | 3% | 3% |
| December 2020 | 4% | 5% | 5% | 4% | 4% | 4% |
| February 2021 | 8% | – | – | 8% | 4% | 4% |
| March 2021 | – | – | – | 7% | 7% | 5% |
| Fidelity Advisor Freedom 2005 Fund | | | | | | |
| May 2020 | 1% | 1% | 3% | 1% | 1% | 1% |
| December 2020 | 6% | 7% | 9% | 6% | 6% | 5% |
| Fidelity Advisor Freedom 2010 Fund | | | | | | |
| May 2020 | 2% | 2% | 16% | 1% | 1% | 1% |
| December 2020 | 10% | 11% | 16% | 9% | 9% | 8% |
| Fidelity Advisor Freedom 2015 Fund | | | | | | |
| May 2020 | 2% | 3% | 13% | 2% | 2% | 2% |
| December 2020 | 14% | 15% | 20% | 12% | 12% | 11% |
| Fidelity Advisor Freedom 2020 Fund | | | | | | |
| May 2020 | 5% | 9% | – | 3% | 3% | 3% |
| December 2020 | 17% | 19% | 25% | 16% | 15% | 14% |
| Fidelity Advisor Freedom 2025 Fund | | | | | | |
| May 2020 | 28% | – | – | 8% | 6% | 5% |
| December 2020 | 20% | 23% | 30% | 18% | 17% | 16% |
| Fidelity Advisor Freedom 2030 Fund | | | | | | |
| May 2020 | 10% | 27% | – | 5% | 4% | 4% |
| December 2020 | 24% | 26% | 34% | 21% | 20% | 19% |
| Fidelity Advisor Freedom 2035 Fund | | | | | | |
| May 2020 | – | – | – | – | – | – |
| December 2020 | 34% | 38% | 51% | 30% | 28% | 27% |
| Fidelity Advisor Freedom 2040 Fund | | | | | | |
| May 2020 | – | – | – | – | – | – |
| December 2020 | 44% | 50% | 70% | 38% | 35% | 32% |
| Fidelity Advisor Freedom 2045 Fund | | | | | | |
| May 2020 | – | – | – | – | – | – |
| December 2020 | 41% | 47% | 64% | 37% | 34% | 32% |
| Fidelity Advisor Freedom 2050 Fund | | | | | | |
| May 2020 | – | – | – | – | – | – |
| December 2020 | 40% | 46% | 61% | 36% | 33% | 31% |
| Fidelity Advisor Freedom 2055 Fund | | | | | | |
| May 2020 | – | – | – | – | – | – |
| December 2020 | 40% | 45% | 60% | 35% | 31% | 31% |
| Fidelity Advisor Freedom 2060 Fund | | | | | | |
| May 2020 | – | – | – | 6% | 3% | 2% |
| December 2020 | 39% | 43% | 59% | 35% | 30% | 31% |
| Fidelity Advisor Freedom 2065 Fund | | | | | | |
| May 2020 | 7% | – | – | 4% | – | 3% |
| December 2020 | 37% | 42% | 62% | 34% | 33% | 32% |
|
A percentage of the dividends distributed during the fiscal year for the following funds may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.
| | Class A | Class M | Class C | Class I | Class Z | Class Z6 |
| Fidelity Advisor Freedom Income Fund | | | | | | |
| April 2020 | 0% | 0% | 0% | 0% | 0% | 0% |
| May 2020 | 0% | 0% | 0% | 0% | 0% | 0% |
| June 2020 | 1% | 1% | – | 1% | 1% | 1% |
| July 2020 | 17% | 25% | – | 11% | 11% | 10% |
| August 2020 | 16% | 23% | – | 12% | 10% | 11% |
| September 2020 | 16% | 23% | – | 12% | 11% | 11% |
| October 2020 | 15% | 23% | – | 12% | 12% | 10% |
| November 2020 | 16% | 62% | – | 11% | 9% | 9% |
| December 2020 | 14% | 14% | 15% | 13% | 13% | 13% |
| February 2021 | 8% | – | – | 8% | 4% | 4% |
| March 2021 | – | – | – | 8% | 8% | 6% |
| Fidelity Advisor Freedom 2005 Fund | | | | | | |
| May 2020 | 2% | 2% | 5% | 2% | 2% | 1% |
| December 2020 | 18% | 20% | 26% | 16% | 16% | 15% |
| Fidelity Advisor Freedom 2010 Fund | | | | | | |
| May 2020 | 3% | 4% | 23% | 2% | 2% | 2% |
| December 2020 | 25% | 28% | 40% | 23% | 22% | 21% |
| Fidelity Advisor Freedom 2015 Fund | | | | | | |
| May 2020 | 4% | 5% | 21% | 3% | 3% | 3% |
| December 2020 | 32% | 36% | 47% | 29% | 28% | 27% |
| Fidelity Advisor Freedom 2020 Fund | | | | | | |
| May 2020 | 8% | 14% | – | 5% | 5% | 4% |
| December 2020 | 40% | 45% | 58% | 36% | 34% | 33% |
| Fidelity Advisor Freedom 2025 Fund | | | | | | |
| May 2020 | 39% | – | – | 12% | 9% | 8% |
| December 2020 | 45% | 51% | 67% | 41% | 39% | 37% |
| Fidelity Advisor Freedom 2030 Fund | | | | | | |
| May 2020 | 13% | 34% | – | 7% | 6% | 5% |
| December 2020 | 53% | 58% | 76% | 47% | 45% | 42% |
| Fidelity Advisor Freedom 2035 Fund | | | | | | |
| May 2020 | – | – | – | – | – | – |
| December 2020 | 74% | 84% | 100% | 66% | 62% | 58% |
| Fidelity Advisor Freedom 2040 Fund | | | | | | |
| May 2020 | – | – | – | – | – | – |
| December 2020 | 97% | 100% | 100% | 84% | 77% | 72% |
| Fidelity Advisor Freedom 2045 Fund | | | | | | |
| May 2020 | – | – | – | – | – | – |
| December 2020 | 90% | 100% | 100% | 80% | 73% | 69% |
| Fidelity Advisor Freedom 2050 Fund | | | | | | |
| May 2020 | – | – | – | – | – | – |
| December 2020 | 88% | 99% | 100% | 78% | 71% | 68% |
| Fidelity Advisor Freedom 2055 Fund | | | | | | |
| May 2020 | – | – | – | – | – | – |
| December 2020 | 87% | 97% | 100% | 77% | 68% | 68% |
| Fidelity Advisor Freedom 2060 Fund | | | | | | |
| May 2020 | – | – | – | 14% | 7% | 5% |
| December 2020 | 85% | 94% | 100% | 76% | 66% | 67% |
| Fidelity Advisor Freedom 2065 Fund | | | | | | |
| May 2020 | 14% | – | – | 8% | – | 6% |
| December 2020 | 74% | 84% | 100% | 69% | 67% | 64% |
|
A percentage of the dividends distributed during the fiscal year for the following funds qualify as a section 199A dividend:
| | Class A | Class M | Class C | Class I | Class Z | Class Z6 |
| Fidelity Advisor Freedom Income Fund | | | | | | |
| April 2020 | 0% | 0% | 0% | 0% | 0% | 0% |
| May 2020 | 0% | 0% | 0% | 0% | 0% | 0% |
| June 2020 | 1% | 1% | – | 1% | 1% | 1% |
| July 2020 | 1% | 2% | – | 1% | 1% | 1% |
| August 2020 | 1% | 1% | – | 1% | 1% | 1% |
| September 2020 | 1% | 1% | – | 1% | 1% | 1% |
| October 2020 | 1% | 1% | – | 1% | 1% | 1% |
| November 2020 | 1% | 3% | – | 1% | 1% | 1% |
| December 2020 | 1% | 1% | 1% | 1% | 1% | 1% |
| February 2021 | 0% | – | – | 0% | 0% | 0% |
| March 2021 | – | – | – | 0% | 0% | 0% |
| Fidelity Advisor Freedom 2005 Fund | | | | | | |
| May 2020 | 1% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 1% | 1% | 1% | 1% | 1% | 1% |
| Fidelity Advisor Freedom 2010 Fund | | | | | | |
| May 2020 | 1% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 1% | 1% | 2% | 1% | 1% | 1% |
| Fidelity Advisor Freedom 2015 Fund | | | | | | |
| May 2020 | 1% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 1% | 2% | 2% | 1% | 1% | 1% |
| Fidelity Advisor Freedom 2020 Fund | | | | | | |
| May 2020 | 1% | 1% | – | 1% | 1% | 1% |
| December 2020 | 1% | 2% | 2% | 1% | 1% | 1% |
| Fidelity Advisor Freedom 2025 Fund | | | | | | |
| May 2020 | 1% | – | – | 1% | 1% | 1% |
| December 2020 | 2% | 2% | 2% | 2% | 1% | 1% |
| Fidelity Advisor Freedom 2030 Fund | | | | | | |
| May 2020 | 1% | 1% | – | 1% | 1% | 1% |
| December 2020 | 2% | 2% | 2% | 2% | 2% | 2% |
| Fidelity Advisor Freedom 2035 Fund | | | | | | |
| May 2020 | – | – | – | – | – | – |
| December 2020 | 2% | 2% | – | 2% | 2% | 2% |
| Fidelity Advisor Freedom 2040 Fund | | | | | | |
| May 2020 | – | – | – | – | – | – |
| December 2020 | 3% | 0% | 0% | 3% | 3% | 2% |
| Fidelity Advisor Freedom 2045 Fund | | | | | | |
| May 2020 | – | – | – | – | – | – |
| December 2020 | 2% | 0% | 0% | 2% | 2% | 2% |
| Fidelity Advisor Freedom 2050 Fund | | | | | | |
| May 2020 | – | – | – | – | – | – |
| December 2020 | 2% | 2% | 0% | 2% | 2% | 2% |
| Fidelity Advisor Freedom 2055 Fund | | | | | | |
| May 2020 | – | – | – | – | – | – |
| December 2020 | 2% | 2% | 0% | 2% | 2% | 2% |
| Fidelity Advisor Freedom 2060 Fund | | | | | | |
| May 2020 | – | – | – | 1% | 1% | 1% |
| December 2020 | 2% | 2% | 0% | 2% | 2% | 2% |
| Fidelity Advisor Freedom 2065 Fund | | | | | | |
| May 2020 | 1% | – | – | 1% | – | 1% |
| December 2020 | 2% | 3% | 0% | 2% | 2% | 2% |
|
The funds will notify shareholders in January 2022 of amounts for use in preparing 2021 income tax returns.
Liquidity Risk Management Program
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Funds have adopted and implemented a liquidity risk management program pursuant to the Liquidity Rule (the Program) effective December 1, 2018. The Program is reasonably designed to assess and manage each Fund’s liquidity risk and to comply with the requirements of the Liquidity Rule. Each Fund’s Board of Trustees (the Board) has designated each Fund’s investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund’s liquidity risk based on a variety of factors including (1) the Fund’s investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) in the case of exchange-traded funds, certain additional factors including the effect of the Fund’s prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund’s portfolio, as applicable.
In accordance with the Program, each of the Fund’s portfolio investments is classified into one of four liquidity categories described below based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
- Highly liquid investments – cash or convertible to cash within three business days or less
- Moderately liquid investments – convertible to cash in three to seven calendar days
- Less liquid investments – can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments – cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund’s illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund’s net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM). The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund’s Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of implementation of the Program for the annual period from December 1, 2019 through November 30, 2020. The report concluded that the Program has been implemented and is operating effectively and is reasonably designed to assess and manage the Fund’s liquidity risk.
AFF-ANN-0521
1.792114.118
Fidelity Freedom® Index Funds - Income, 2005, 2010, 2015, 2020, 2025, 2030, 2035, 2040, 2045, 2050, 2055, 2060, 2065
Annual Report
March 31, 2021
Contents
To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
You may also call 1-800-835-5092 (plan accounts and Institutional Premium Class) or 1-800-544-8544 (all other accounts) to request a free copy of the proxy voting guidelines.
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This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Funds nor Fidelity Distributors Corporation is a bank.
Note to Shareholders:
Early in 2020, the outbreak and spread of a new coronavirus emerged as a public health emergency that had a major influence on financial markets, primarily based on its impact on the global economy and the outlook for corporate earnings. The virus causes a respiratory disease known as COVID-19. On March 11, 2020 the World Health Organization declared the COVID-19 outbreak a pandemic, citing sustained risk of further global spread.
In the weeks following, as the crisis worsened, we witnessed an escalating human tragedy with wide-scale social and economic consequences from coronavirus-containment measures. The outbreak of COVID-19 prompted a number of measures to limit the spread, including travel and border restrictions, quarantines, and restrictions on large gatherings. In turn, these resulted in lower consumer activity, diminished demand for a wide range of products and services, disruption in manufacturing and supply chains, and – given the wide variability in outcomes regarding the outbreak – significant market uncertainty and volatility. Amid the turmoil, global governments and central banks took unprecedented action to help support consumers, businesses, and the broader economies, and to limit disruption to financial systems.
The situation continues to unfold, and the extent and duration of its impact on financial markets and the economy remain highly uncertain. Extreme events such as the coronavirus crisis are “exogenous shocks” that can have significant adverse effects on mutual funds and their investments. Although multiple asset classes may be affected by market disruption, the duration and impact may not be the same for all types of assets.
Fidelity is committed to helping you stay informed amid news about COVID-19 and during increased market volatility, and we’re taking extra steps to be responsive to customer needs. We encourage you to visit our websites, where we offer ongoing updates, commentary, and analysis on the markets and our funds.
Fidelity Freedom® Index Income Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Investor Class | 9.72% | 5.11% | 3.96% |
| Institutional Premium Class | 9.68% | 5.15% | 3.99% |
| Premier Class | 9.62% | 5.14% | 3.98% |
The initial offering of Institutional Premium Class took place on June 24, 2015. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
The initial offering of Premier Class took place on June 24, 2020. Returns between June 24, 2015 and June 24, 2020 are those of Institutional Premium Class. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Index Income Fund - Investor Class on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $14,750 | Fidelity Freedom® Index Income Fund - Investor Class |
| $14,025 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Freedom® Index 2005 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Investor Class | 12.35% | 6.10% | 4.83% |
| Institutional Premium Class | 12.46% | 6.16% | 4.87% |
| Premier Class | 12.43% | 6.16% | 4.86% |
The initial offering of Institutional Premium Class took place on June 24, 2015. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
The initial offering of Premier Class took place on June 24, 2020. Returns between June 24, 2015 and June 24, 2020 are those of Institutional Premium Class. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Index 2005 Fund - Investor Class on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $16,029 | Fidelity Freedom® Index 2005 Fund - Investor Class |
| $14,025 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Freedom® Index 2010 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Investor Class | 17.04% | 7.21% | 5.79% |
| Institutional Premium Class | 17.17% | 7.28% | 5.83% |
| Premier Class | 17.23% | 7.29% | 5.83% |
The initial offering of Institutional Premium Class took place on June 24, 2015. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
The initial offering of Premier Class took place on June 24, 2020. Returns between June 24, 2015 and June 24, 2020 are those of Institutional Premium Class. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Index 2010 Fund - Investor Class on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $17,554 | Fidelity Freedom® Index 2010 Fund - Investor Class |
| $14,025 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Freedom® Index 2015 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Investor Class | 21.92% | 8.33% | 6.44% |
| Institutional Premium Class | 21.98% | 8.38% | 6.47% |
| Premier Class | 22.05% | 8.39% | 6.47% |
The initial offering of Institutional Premium Class took place on June 24, 2015. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
The initial offering of Premier Class took place on June 24, 2020. Returns between June 24, 2015 and June 24, 2020 are those of Institutional Premium Class. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Index 2015 Fund - Investor Class on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $18,669 | Fidelity Freedom® Index 2015 Fund - Investor Class |
| $14,025 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Freedom® Index 2020 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Investor Class | 26.61% | 9.21% | 6.96% |
| Institutional Premium Class | 26.66% | 9.27% | 7.00% |
| Premier Class | 26.72% | 9.28% | 7.00% |
The initial offering of Institutional Premium Class took place on June 24, 2015. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
The initial offering of Premier Class took place on June 24, 2020. Returns between June 24, 2015 and June 24, 2020 are those of Institutional Premium Class. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Index 2020 Fund - Investor Class on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $19,604 | Fidelity Freedom® Index 2020 Fund - Investor Class |
| $36,788 | S&P 500® Index |
Fidelity Freedom® Index 2025 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Investor Class | 30.27% | 9.95% | 7.63% |
| Institutional Premium Class | 30.37% | 10.01% | 7.67% |
| Premier Class | 30.35% | 10.01% | 7.67% |
The initial offering of Institutional Premium Class took place on June 24, 2015. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
The initial offering of Premier Class took place on June 24, 2020. Returns between June 24, 2015 and June 24, 2020 are those of Institutional Premium Class. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Index 2025 Fund - Investor Class on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $20,687 | Fidelity Freedom® Index 2025 Fund - Investor Class |
| $36,788 | S&P 500® Index |
Fidelity Freedom® Index 2030 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Investor Class | 35.36% | 11.28% | 8.34% |
| Institutional Premium Class | 35.41% | 11.33% | 8.37% |
| Premier Class | 35.46% | 11.34% | 8.38% |
The initial offering of Institutional Premium Class took place on June 24, 2015. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
The initial offering of Premier Class took place on June 24, 2020. Returns between June 24, 2015 and June 24, 2020 are those of Institutional Premium Class. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Index 2030 Fund - Investor Class on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $22,286 | Fidelity Freedom® Index 2030 Fund - Investor Class |
| $36,788 | S&P 500® Index |
Fidelity Freedom® Index 2035 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Investor Class | 44.28% | 12.64% | 9.12% |
| Institutional Premium Class | 44.31% | 12.69% | 9.15% |
| Premier Class | 44.36% | 12.70% | 9.16% |
The initial offering of Institutional Premium Class took place on June 24, 2015. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
The initial offering of Premier Class took place on June 24, 2020. Returns between June 24, 2015 and June 24, 2020 are those of Institutional Premium Class. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Index 2035 Fund - Investor Class on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $23,931 | Fidelity Freedom® Index 2035 Fund - Investor Class |
| $36,788 | S&P 500® Index |
Fidelity Freedom® Index 2040 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Investor Class | 49.86% | 13.14% | 9.39% |
| Institutional Premium Class | 49.89% | 13.19% | 9.42% |
| Premier Class | 49.88% | 13.19% | 9.42% |
The initial offering of Institutional Premium Class took place on June 24, 2015. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
The initial offering of Premier Class took place on June 24, 2020. Returns between June 24, 2015 and June 24, 2020 are those of Institutional Premium Class. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Index 2040 Fund - Investor Class on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $24,527 | Fidelity Freedom® Index 2040 Fund - Investor Class |
| $36,788 | S&P 500® Index |
Fidelity Freedom® Index 2045 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Investor Class | 49.89% | 13.14% | 9.41% |
| Institutional Premium Class | 49.89% | 13.19% | 9.45% |
| Premier Class | 49.95% | 13.20% | 9.45% |
The initial offering of Institutional Premium Class took place on June 24, 2015. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
The initial offering of Premier Class took place on June 24, 2020. Returns between June 24, 2015 and June 24, 2020 are those of Institutional Premium Class. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Index 2045 Fund - Investor Class on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $24,586 | Fidelity Freedom® Index 2045 Fund - Investor Class |
| $36,788 | S&P 500® Index |
Fidelity Freedom® Index 2050 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Past 10 years |
| Investor Class | 49.93% | 13.14% | 9.39% |
| Institutional Premium Class | 49.96% | 13.19% | 9.42% |
| Premier Class | 50.03% | 13.20% | 9.42% |
The initial offering of Institutional Premium Class took place on June 24, 2015. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
The initial offering of Premier Class took place on June 24, 2020. Returns between June 24, 2015 and June 24, 2020 are those of Institutional Premium Class. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
$10,000 Over 10 Years
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Index 2050 Fund - Investor Class on March 31, 2011.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $24,532 | Fidelity Freedom® Index 2050 Fund - Investor Class |
| $36,788 | S&P 500® Index |
Fidelity Freedom® Index 2055 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Life of PortfolioA |
| Investor Class | 49.88% | 13.15% | 9.66% |
| Institutional Premium Class | 49.87% | 13.20% | 9.69% |
| Premier Class | 49.84% | 13.20% | 9.69% |
A From June 1, 2011
The initial offering of Institutional Premium Class took place on June 24, 2015. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
The initial offering of Premier Class took place on June 24, 2020. Returns between June 24, 2015 and June 24, 2020 are those of Institutional Premium Class. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Index 2055 Fund - Investor Class on June 1, 2011, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $24,773 | Fidelity Freedom® Index 2055 Fund - Investor Class |
| $36,978 | S&P 500® Index |
Fidelity Freedom® Index 2060 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Past 5 years | Life of PortfolioA |
| Investor Class | 49.89% | 13.13% | 10.01% |
| Institutional Premium Class | 49.92% | 13.19% | 10.05% |
| Premier Class | 50.05% | 13.21% | 10.07% |
A From August 5, 2014
The initial offering of Institutional Premium Class took place on June 24, 2015. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
The initial offering of Premier Class took place on June 24, 2020. Returns between June 24, 2015 and June 24, 2020 are those of Institutional Premium Class. Returns prior to June 24, 2015 are those of Investor Class, the original class of the fund.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Index 2060 Fund - Investor Class on August 5, 2014, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $18,871 | Fidelity Freedom® Index 2060 Fund - Investor Class |
| $23,643 | S&P 500® Index |
Fidelity Freedom® Index 2065 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of PortfolioA |
| Investor Class | 49.88% | 16.96% |
| Institutional Premium Class | 49.92% | 16.98% |
| Premier Class | 49.95% | 16.99% |
A From June 28, 2019
The initial offering of Premier Class took place on June 24, 2020. Returns prior to June 24, 2020 are those of Institutional Premium Class
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Index 2065 Fund - Investor Class on June 28, 2019, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $13,153 | Fidelity Freedom® Index 2065 Fund - Investor Class |
| $13,944 | S&P 500® Index |
Management's Discussion of Fund Performance
Market Recap: For the 12 months ending March 31, 2021, global financial markets were influenced by a number of factors, including elevated volatility resulting from the early-2020 outbreak and spread of COVID-19. The pandemic coincided with equities suffering one of the quickest declines on record, followed by a historic rebound through March 31, driven by global economies reopening, ongoing fiscal and monetary stimulus, and the widespread distribution of COVID-19 vaccines. Many economists raised their expectations for a powerful recovery, as opposed to the sluggish rebound they had been anticipating. In the first quarter of 2021, riskier asset prices and bond yields rose amid the progressing global recovery.
Within this environment, the MSCI ACWI (All Country World Index) ex USA Index gained 49.62% for the 12 months. Canada (+61%) and emerging markets (+59%) fared best among regions. Asia Pacific ex Japan (+52%) also topped the broader market. Conversely, the U.K. (+34%) and Japan (+40%) notably lagged and Europe ex U.K. gained about 50%. By sector, information technology (+83%) led the way, boosted by the semiconductors & semiconductor equipment group (+128%). Materials (+77%), consumer discretionary (+66%) and industrials (+58%) also outperformed. In contrast, notable laggards included four defensive sectors: consumer staples and health care (+23% each) and utilities and real estate (+29% each).
The Dow Jones U.S. Total Stock Market Index gained 62.68% the past 12 months. Among sectors, economically sensitive groups fared best, led by consumer discretionary (+98%), energy and materials (+83% each), industrials (+74%), and information technology (+70%). In contrast, utilities (+19%) fared worst by a wide margin, followed by consumer staples (+31%). Small-cap stocks, as measured by the Russell 2000
® Index (+94.85%), handily topped the large-cap-oriented S&P 500
® index (+56.35%) the past 12 months. From a style standpoint, value stocks outpaced growth in the smaller-cap segment of the broader market, while growth topped value among large-caps. Commodities, as measured by the Bloomberg Barclays Commodity Index Total Return, rose 35.04%.
Within fixed income, U.S. taxable investment-grade bonds, as measured by the Bloomberg Barclays U.S. Aggregate Bond Index, gained 0.71% the past 12 months. Treasury Inflation-Protected Securities (+8.12%) and corporate bonds (+7.88%) outperformed the broader investment-grade bond index. Long-term (-15.80%) and short-term (+0.13%) U.S. Treasuries underperformed, as did government-related securities (-4.26%). Commercial mortgage-backed securities (+4.36%) and asset-backed securities (+4.57%) each lagged, whereas leveraged loans (+21.93%), high-yield bonds (+20.31%) and emerging-market debt (+14.29%) stood out.
Comments from Co-Portfolio Managers Andrew Dierdorf, Brett Sumsion and Finola McGuire Foley: For the fiscal year, the Investor Class shares of each Fidelity Freedom
® Index Fund posted a gain, ranging from 9.72% for Fidelity Freedom
® Index Income Fund to 49.93% for Fidelity Freedom Index 2050 Fund. Each Fund performed roughly in line with its Composite index the past 12 months. U.S. equities and non-U.S. equities were the best-performing asset classes this period, one that was marked by increased optimism for economic growth, coordinated monetary and fiscal response from the U.S. government, and the potential for rising inflationary pressures. The Funds’ investment in Fidelity
® Series Total Market Index Fund, which invests in large and small-cap stocks as well as growth and value stocks, returned 62.78% the past 12 months, about in line with the benchmark Dow Jones U.S. Total Stock Market Index (+62.68%). Fidelity
® Series Global ex U.S. Index Fund, which invests in non-U.S. stocks, returned 49.84%, roughly in line with the 49.62% return of the MSCI ACWI (All Country World Index) ex U.S.A. Index. Looking at other asset classes, fixed income and short-term securities notably lagged equities this period. Long-term U.S. Treasury bonds fared worst, as measured by the -15.80% return of the Bloomberg Barclays U.S. Long-Term Treasury Bond Index. Comparatively, our position in Fidelity
® Series Long-Term Treasury Bond Index Fund returned -16.55%. The Bloomberg Barclays U.S. Aggregate Bond Index, the benchmark for investment-grade bonds, gained 0.71%, compared to 0.34% for our stake in Fidelity
® Series Investment Grade Bond Index Fund. Inflation-protected securities and short-term securities returned 8.12% and 0.13%, respectively, as measured by the Bloomberg Barclays 1-10 TIPS Index and the Bloomberg Barclays 3-6 Month Treasury Bond Index. The Funds' investments in those two asset classes roughly kept pace with the benchmarks.
The views expressed above reflect those of the portfolio manager(s) only through the end of the period as stated on the cover of this report and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity fund.
Fidelity Freedom® Index Income Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Bond Index Fund | 45.5 |
| Fidelity Series Treasury Bill Index Fund | 22.6 |
| Fidelity Series Total Market Index Fund | 11.4 |
| Fidelity Series Inflation-Protected Bond Index Fund | 10.0 |
| Fidelity Series Global ex U.S. Index Fund | 7.6 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2.9 |
| Fidelity Cash Central Fund 0.06% | 0.0 |
| | 100.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 11.4% |
| | International Equity Funds | 7.6% |
| | Bond Funds | 48.4% |
| | Inflation-Protected Bond Funds | 10.0% |
| | Short-Term Funds | 22.6% |
Percentages shown as 0.0% may reflect amounts less than 0.05%.
Fidelity Freedom® Index Income Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 11.4% | | | |
| | | Shares | Value |
| Fidelity Series Total Market Index Fund (a) | | | |
| (Cost $83,329,767) | | 8,270,080 | 113,630,905 |
|
| International Equity Funds - 7.6% | | | |
| Fidelity Series Global ex U.S. Index Fund (a) | | | |
| (Cost $58,728,177) | | 5,106,494 | 75,882,498 |
|
| Bond Funds - 48.4% | | | |
| Fidelity Series Bond Index Fund (a) | | 43,767,770 | 453,434,102 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 3,723,044 | 29,412,044 |
| TOTAL BOND FUNDS | | | |
| (Cost $488,628,901) | | | 482,846,146 |
|
| Inflation-Protected Bond Funds - 10.0% | | | |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | | |
| (Cost $95,562,748) | | 9,300,839 | 99,891,013 |
|
| Short-Term Funds - 22.6% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 18,033 | 18,037 |
| Fidelity Series Treasury Bill Index Fund (a) | | 22,490,806 | 224,908,055 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $224,979,412) | | | 224,926,092 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $951,229,005) | | | 997,176,654 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (67,825) |
| NET ASSETS - 100% | | | $997,108,829 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $18 |
| Total | $18 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Bond Index Fund | $255,629,952 | $305,059,839 | $92,100,039 | $10,697,205 | $(778,681) | $(14,376,969) | $453,434,102 |
| Fidelity Series Global ex U.S. Index Fund | 41,926,680 | 45,436,742 | 33,937,632 | 1,221,406 | 308,087 | 22,148,621 | 75,882,498 |
| Fidelity Series Inflation-Protected Bond Index Fund | 55,922,222 | 60,956,791 | 21,057,402 | 1,221,461 | 168,307 | 3,901,095 | 99,891,013 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 16,874,437 | 26,324,775 | 5,928,546 | 2,888,690 | (316,044) | (7,542,578) | 29,412,044 |
| Fidelity Series Total Market Index Fund | 62,405,580 | 69,882,360 | 59,154,761 | 1,989,407 | 1,285,803 | 39,211,923 | 113,630,905 |
| Fidelity Series Treasury Bill Index Fund | 126,104,162 | 146,378,128 | 46,964,956 | 756,854 | (35,981) | (573,298) | 224,908,055 |
| | $558,863,033 | $654,038,635 | $259,143,336 | $18,775,023 | $631,491 | $42,768,794 | $997,158,617 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $113,630,905 | $113,630,905 | $-- | $-- |
| International Equity Funds | 75,882,498 | 75,882,498 | -- | -- |
| Bond Funds | 582,737,159 | 582,737,159 | -- | -- |
| Short-Term Funds | 224,926,092 | 224,926,092 | -- | -- |
| Total Investments in Securities: | $997,176,654 | $997,176,654 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index Income Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Fidelity Central Funds (cost $18,037) | $18,037 | |
| Other affiliated issuers (cost $951,210,968) | 997,158,617 | |
| Total Investment in Securities (cost $951,229,005) | | $997,176,654 |
| Cash | | 9,231 |
| Receivable for investments sold | | 6,224,097 |
| Receivable for fund shares sold | | 5,904,189 |
| Distributions receivable from Fidelity Central Funds | | 1 |
| Total assets | | 1,009,314,172 |
| Liabilities | | |
| Payable for investments purchased | $4,924,518 | |
| Payable for fund shares redeemed | 7,204,003 | |
| Accrued management fee | 76,822 | |
| Total liabilities | | 12,205,343 |
| Net Assets | | $997,108,829 |
| Net Assets consist of: | | |
| Paid in capital | | $948,862,721 |
| Total accumulated earnings (loss) | | 48,246,108 |
| Net Assets | | $997,108,829 |
| Net Asset Value and Maximum Offering Price | | |
| Investor Class: | | |
| Net Asset Value, offering price and redemption price per share ($469,551,928 ÷ 37,697,754 shares) | | $12.46 |
| Institutional Premium Class: | | |
| Net Asset Value, offering price and redemption price per share ($410,093,549 ÷ 32,967,042 shares) | | $12.44 |
| Premier Class: | | |
| Net Asset Value, offering price and redemption price per share ($117,463,352 ÷ 9,447,759 shares) | | $12.43 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $10,141,284 |
| Income from Fidelity Central Funds | | 18 |
| Total income | | 10,141,302 |
| Expenses | | |
| Management fee | $769,935 | |
| Independent trustees' fees and expenses | 2,138 | |
| Total expenses before reductions | 772,073 | |
| Expense reductions | (4) | |
| Total expenses after reductions | | 772,069 |
| Net investment income (loss) | | 9,369,233 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 658,577 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 8,633,739 | |
| Total net realized gain (loss) | | 9,292,316 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 42,768,794 | |
| Total change in net unrealized appreciation (depreciation) | | 42,768,794 |
| Net gain (loss) | | 52,061,110 |
| Net increase (decrease) in net assets resulting from operations | | $61,430,343 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $9,369,233 | $9,278,014 |
| Net realized gain (loss) | 9,292,316 | 27,218,832 |
| Change in net unrealized appreciation (depreciation) | 42,768,794 | (23,086,943) |
| Net increase (decrease) in net assets resulting from operations | 61,430,343 | 13,409,903 |
| Distributions to shareholders | (17,384,777) | (35,256,615) |
| Share transactions - net increase (decrease) | 394,244,729 | 227,317,964 |
| Total increase (decrease) in net assets | 438,290,295 | 205,471,252 |
| Net Assets | | |
| Beginning of period | 558,818,534 | 353,347,282 |
| End of period | $997,108,829 | $558,818,534 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Index Income Fund Investor Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.60 | $11.98 | $11.86 | $11.63 | $11.36 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .14 | .24 | .25 | .20 | .17 |
| Net realized and unrealized gain (loss) | .98 | .23 | .22 | .27 | .28 |
| Total from investment operations | 1.12 | .47 | .47 | .47 | .45 |
| Distributions from net investment income | (.15) | (.24) | (.25) | (.19) | (.17) |
| Distributions from net realized gain | (.12) | (.62) | (.10) | (.04) | (.01) |
| Total distributions | (.26)B | (.85)B | (.35) | (.24)B | (.18) |
| Net asset value, end of period | $12.46 | $11.60 | $11.98 | $11.86 | $11.63 |
| Total ReturnC | 9.72% | 3.83% | 4.09% | 4.02% | 4.02% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .12% | .12% | .15% | .15% | .15% |
| Expenses net of fee waivers, if any | .12% | .12% | .12% | .12% | .08% |
| Expenses net of all reductions | .12% | .12% | .12% | .12% | .08% |
| Net investment income (loss) | 1.13% | 1.96% | 2.15% | 1.69% | 1.48% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $469,552 | $282,522 | $167,641 | $126,634 | $118,421 |
| Portfolio turnover rateF | 33% | 67% | 51% | 17% | 52% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index Income Fund Institutional Premium Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $11.59 | $11.96 | $11.84 | $11.61 | $11.35 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .14 | .24 | .26 | .21 | .18 |
| Net realized and unrealized gain (loss) | .98 | .25 | .22 | .26 | .27 |
| Total from investment operations | 1.12 | .49 | .48 | .47 | .45 |
| Distributions from net investment income | (.15) | (.24) | (.26) | (.20) | (.18) |
| Distributions from net realized gain | (.12) | (.62) | (.10) | (.04) | (.01) |
| Total distributions | (.27) | (.86) | (.36) | (.24) | (.19) |
| Net asset value, end of period | $12.44 | $11.59 | $11.96 | $11.84 | $11.61 |
| Total ReturnB | 9.68% | 3.98% | 4.16% | 4.07% | 4.00% |
| Ratios to Average Net AssetsC,D | | | | | |
| Expenses before reductions | .08% | .08% | .10% | .10% | .09% |
| Expenses net of fee waivers, if any | .08% | .08% | .06% | .07% | .03% |
| Expenses net of all reductions | .08% | .08% | .06% | .07% | .03% |
| Net investment income (loss) | 1.17% | 2.00% | 2.21% | 1.74% | 1.54% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $410,094 | $276,297 | $185,706 | $163,733 | $145,993 |
| Portfolio turnover rateE | 33% | 67% | 51% | 17% | 52% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
E Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index Income Fund Premier Class
| Years ended March 31, | 2021 A |
| Selected Per–Share Data | |
| Net asset value, beginning of period | $12.07 |
| Income from Investment Operations | |
| Net investment income (loss)B | .18 |
| Net realized and unrealized gain (loss) | .38 |
| Total from investment operations | .56 |
| Distributions from net investment income | (.11) |
| Distributions from net realized gain | (.09) |
| Total distributions | (.20) |
| Net asset value, end of period | $12.43 |
| Total ReturnC,D | 4.59% |
| Ratios to Average Net AssetsE,F | |
| Expenses before reductions | .06%G |
| Expenses net of fee waivers, if any | .06%G |
| Expenses net of all reductions | .06%G |
| Net investment income (loss) | 1.93%G |
| Supplemental Data | |
| Net assets, end of period (000 omitted) | $117,463 |
| Portfolio turnover rateH | 33% |
A For the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2005 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Bond Index Fund | 44.0 |
| Fidelity Series Treasury Bill Index Fund | 20.4 |
| Fidelity Series Total Market Index Fund | 14.0 |
| Fidelity Series Global ex U.S. Index Fund | 9.4 |
| Fidelity Series Inflation-Protected Bond Index Fund | 9.2 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 3.0 |
| Fidelity Cash Central Fund 0.06% | 0.0 |
| | 100.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 14.0% |
| | International Equity Funds | 9.4% |
| | Bond Funds | 47.0% |
| | Inflation-Protected Bond Funds | 9.2% |
| | Short-Term Funds | 20.4% |
Percentages shown as 0.0% may reflect amounts less than 0.05%.
Fidelity Freedom® Index 2005 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 14.0% | | | |
| | | Shares | Value |
| Fidelity Series Total Market Index Fund (a) | | | |
| (Cost $25,104,630) | | 2,591,364 | 35,605,345 |
|
| International Equity Funds - 9.4% | | | |
| Fidelity Series Global ex U.S. Index Fund (a) | | | |
| (Cost $17,624,367) | | 1,600,003 | 23,776,047 |
|
| Bond Funds - 47.0% | | | |
| Fidelity Series Bond Index Fund (a) | | 10,799,355 | 111,881,319 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 955,646 | 7,549,602 |
| TOTAL BOND FUNDS | | | |
| (Cost $119,621,354) | | | 119,430,921 |
|
| Inflation-Protected Bond Funds - 9.2% | | | |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | | |
| (Cost $22,172,691) | | 2,184,202 | 23,458,328 |
|
| Short-Term Funds - 20.4% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 9,878 | 9,880 |
| Fidelity Series Treasury Bill Index Fund (a) | | 5,196,265 | 51,962,647 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $51,982,664) | | | 51,972,527 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $236,505,706) | | | 254,243,168 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (19,847) |
| NET ASSETS - 100% | | | $254,223,321 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $9 |
| Total | $9 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Bond Index Fund | $77,126,302 | $60,466,273 | $22,246,204 | $2,910,332 | $(142,053) | $(3,322,999) | $111,881,319 |
| Fidelity Series Global ex U.S. Index Fund | 17,560,895 | 10,515,815 | 12,652,530 | 399,677 | 375,305 | 7,976,562 | 23,776,047 |
| Fidelity Series Inflation-Protected Bond Index Fund | 15,832,193 | 11,198,606 | 4,721,918 | 289,677 | 48,703 | 1,100,744 | 23,458,328 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 5,342,082 | 5,705,088 | 1,434,554 | 779,125 | (51,909) | (2,011,105) | 7,549,602 |
| Fidelity Series Total Market Index Fund | 26,103,926 | 16,280,181 | 21,871,253 | 679,797 | 1,117,873 | 13,974,618 | 35,605,345 |
| Fidelity Series Treasury Bill Index Fund | 34,800,814 | 27,575,737 | 10,254,738 | 201,582 | (7,691) | (151,475) | 51,962,647 |
| | $176,766,212 | $131,741,700 | $73,181,197 | $5,260,190 | $1,340,228 | $17,566,345 | $254,233,288 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $35,605,345 | $35,605,345 | $-- | $-- |
| International Equity Funds | 23,776,047 | 23,776,047 | -- | -- |
| Bond Funds | 142,889,249 | 142,889,249 | -- | -- |
| Short-Term Funds | 51,972,527 | 51,972,527 | -- | -- |
| Total Investments in Securities: | $254,243,168 | $254,243,168 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2005 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Fidelity Central Funds (cost $9,880) | $9,880 | |
| Other affiliated issuers (cost $236,495,826) | 254,233,288 | |
| Total Investment in Securities (cost $236,505,706) | | $254,243,168 |
| Cash | | 516 |
| Receivable for investments sold | | 1,659,452 |
| Receivable for fund shares sold | | 944,038 |
| Distributions receivable from Fidelity Central Funds | | 1 |
| Total assets | | 256,847,175 |
| Liabilities | | |
| Payable for investments purchased | $2,320,449 | |
| Payable for fund shares redeemed | 283,228 | |
| Accrued management fee | 20,177 | |
| Total liabilities | | 2,623,854 |
| Net Assets | | $254,223,321 |
| Net Assets consist of: | | |
| Paid in capital | | $234,934,090 |
| Total accumulated earnings (loss) | | 19,289,231 |
| Net Assets | | $254,223,321 |
| Net Asset Value and Maximum Offering Price | | |
| Investor Class: | | |
| Net Asset Value, offering price and redemption price per share ($140,539,177 ÷ 10,181,657 shares) | | $13.80 |
| Institutional Premium Class: | | |
| Net Asset Value, offering price and redemption price per share ($105,989,514 ÷ 7,676,094 shares) | | $13.81 |
| Premier Class: | | |
| Net Asset Value, offering price and redemption price per share ($7,694,630 ÷ 557,458 shares) | | $13.80 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $2,955,927 |
| Income from Fidelity Central Funds | | 9 |
| Total income | | 2,955,936 |
| Expenses | | |
| Management fee | $226,475 | |
| Independent trustees' fees and expenses | 631 | |
| Total expenses before reductions | 227,106 | |
| Expense reductions | (92) | |
| Total expenses after reductions | | 227,014 |
| Net investment income (loss) | | 2,728,922 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 1,350,534 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 2,304,263 | |
| Total net realized gain (loss) | | 3,654,797 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 17,566,345 | |
| Total change in net unrealized appreciation (depreciation) | | 17,566,345 |
| Net gain (loss) | | 21,221,142 |
| Net increase (decrease) in net assets resulting from operations | | $23,950,064 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $2,728,922 | $3,080,525 |
| Net realized gain (loss) | 3,654,797 | 13,724,282 |
| Change in net unrealized appreciation (depreciation) | 17,566,345 | (13,330,553) |
| Net increase (decrease) in net assets resulting from operations | 23,950,064 | 3,474,254 |
| Distributions to shareholders | (5,459,492) | (16,376,341) |
| Share transactions - net increase (decrease) | 58,980,322 | 58,822,728 |
| Total increase (decrease) in net assets | 77,470,894 | 45,920,641 |
| Net Assets | | |
| Beginning of period | 176,752,427 | 130,831,786 |
| End of period | $254,223,321 | $176,752,427 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Index 2005 Fund Investor Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.58 | $13.50 | $13.36 | $12.94 | $12.45 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .16 | .27 | .29 | .23 | .20 |
| Net realized and unrealized gain (loss) | 1.39 | .17 | .26 | .47 | .52 |
| Total from investment operations | 1.55 | .44 | .55 | .70 | .72 |
| Distributions from net investment income | (.17) | (.26) | (.26) | (.21) | (.20) |
| Distributions from net realized gain | (.16) | (1.10) | (.14) | (.07) | (.03) |
| Total distributions | (.33) | (1.36) | (.41)B | (.28) | (.23) |
| Net asset value, end of period | $13.80 | $12.58 | $13.50 | $13.36 | $12.94 |
| Total ReturnC | 12.35% | 2.91% | 4.25% | 5.41% | 5.84% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .12% | .12% | .15% | .15% | .15% |
| Expenses net of fee waivers, if any | .12% | .12% | .12% | .12% | .09% |
| Expenses net of all reductions | .12% | .12% | .12% | .12% | .09% |
| Net investment income (loss) | 1.21% | 1.96% | 2.16% | 1.74% | 1.60% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $140,539 | $93,765 | $66,875 | $60,299 | $43,767 |
| Portfolio turnover rateF | 33% | 83% | 52% | 26% | 52% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2005 Fund Institutional Premium Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.58 | $13.50 | $13.36 | $12.94 | $12.45 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .17 | .27 | .30 | .24 | .21 |
| Net realized and unrealized gain (loss) | 1.39 | .17 | .25 | .46 | .52 |
| Total from investment operations | 1.56 | .44 | .55 | .70 | .73 |
| Distributions from net investment income | (.18) | (.27) | (.27) | (.22) | (.21) |
| Distributions from net realized gain | (.16) | (1.10) | (.14) | (.07) | (.03) |
| Total distributions | (.33)B | (1.36)B | (.41) | (.28)B | (.24) |
| Net asset value, end of period | $13.81 | $12.58 | $13.50 | $13.36 | $12.94 |
| Total ReturnC | 12.46% | 2.95% | 4.31% | 5.45% | 5.90% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .08% | .08% | .10% | .10% | .09% |
| Expenses net of fee waivers, if any | .08% | .08% | .06% | .07% | .03% |
| Expenses net of all reductions | .08% | .08% | .06% | .07% | .03% |
| Net investment income (loss) | 1.25% | 2.00% | 2.22% | 1.79% | 1.66% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $105,990 | $82,988 | $63,956 | $52,913 | $46,992 |
| Portfolio turnover rateF | 33% | 83% | 52% | 26% | 52% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2005 Fund Premier Class
| Years ended March 31, | 2021 A |
| Selected Per–Share Data | |
| Net asset value, beginning of period | $13.24 |
| Income from Investment Operations | |
| Net investment income (loss)B | .03 |
| Net realized and unrealized gain (loss) | .79 |
| Total from investment operations | .82 |
| Distributions from net investment income | (.14) |
| Distributions from net realized gain | (.12) |
| Total distributions | (.26) |
| Net asset value, end of period | $13.80 |
| Total ReturnC,D | 6.16% |
| Ratios to Average Net AssetsE,F | |
| Expenses before reductions | .06%G |
| Expenses net of fee waivers, if any | .06%G |
| Expenses net of all reductions | .06%G |
| Net investment income (loss) | .32%G |
| Supplemental Data | |
| Net assets, end of period (000 omitted) | $7,695 |
| Portfolio turnover rateH | 33% |
A For the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2010 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Bond Index Fund | 40.6 |
| Fidelity Series Total Market Index Fund | 19.4 |
| Fidelity Series Treasury Bill Index Fund | 16.3 |
| Fidelity Series Global ex U.S. Index Fund | 13.0 |
| Fidelity Series Inflation-Protected Bond Index Fund | 7.7 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 3.0 |
| Fidelity Cash Central Fund 0.06% | 0.0 |
| | 100.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 19.4% |
| | International Equity Funds | 13.0% |
| | Bond Funds | 43.6% |
| | Inflation-Protected Bond Funds | 7.7% |
| | Short-Term Funds | 16.3% |
Percentages shown as 0.0% may reflect amounts less than 0.05%.
Fidelity Freedom® Index 2010 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 19.4% | | | |
| | | Shares | Value |
| Fidelity Series Total Market Index Fund (a) | | | |
| (Cost $121,262,175) | | 12,371,237 | 169,980,797 |
|
| International Equity Funds - 13.0% | | | |
| Fidelity Series Global ex U.S. Index Fund (a) | | | |
| (Cost $81,678,834) | | 7,640,136 | 113,532,428 |
|
| Bond Funds - 43.6% | | | |
| Fidelity Series Bond Index Fund (a) | | 34,230,744 | 354,630,504 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 3,292,596 | 26,011,511 |
| TOTAL BOND FUNDS | | | |
| (Cost $378,525,138) | | | 380,642,015 |
|
| Inflation-Protected Bond Funds - 7.7% | | | |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | | |
| (Cost $63,298,516) | | 6,269,278 | 67,332,050 |
|
| Short-Term Funds - 16.3% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 5,946 | 5,947 |
| Fidelity Series Treasury Bill Index Fund (a) | | 14,258,763 | 142,587,634 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $142,610,538) | | | 142,593,581 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $787,375,201) | | | 874,080,871 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (67,871) |
| NET ASSETS - 100% | | | $874,013,000 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $6 |
| Total | $6 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Bond Index Fund | $271,732,748 | $143,763,094 | $50,209,061 | $9,535,369 | $(375,175) | $(10,281,102) | $354,630,504 |
| Fidelity Series Global ex U.S. Index Fund | 92,008,968 | 28,609,999 | 48,713,076 | 1,968,585 | 1,595,183 | 40,031,354 | 113,532,428 |
| Fidelity Series Inflation-Protected Bond Index Fund | 50,554,600 | 21,716,240 | 8,441,394 | 856,838 | 72,292 | 3,430,312 | 67,332,050 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 20,486,851 | 16,197,808 | 3,349,621 | 2,814,129 | (213,524) | (7,110,003) | 26,011,511 |
| Fidelity Series Total Market Index Fund | 136,780,743 | 44,777,593 | 86,917,520 | 3,404,019 | 6,713,715 | 68,626,266 | 169,980,797 |
| Fidelity Series Treasury Bill Index Fund | 105,390,371 | 56,094,787 | 18,428,171 | 586,141 | (22,625) | (446,728) | 142,587,634 |
| | $676,954,281 | $311,159,521 | $216,058,843 | $19,165,081 | $7,769,866 | $94,250,099 | $874,074,924 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $169,980,797 | $169,980,797 | $-- | $-- |
| International Equity Funds | 113,532,428 | 113,532,428 | -- | -- |
| Bond Funds | 447,974,065 | 447,974,065 | -- | -- |
| Short-Term Funds | 142,593,581 | 142,593,581 | -- | -- |
| Total Investments in Securities: | $874,080,871 | $874,080,871 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2010 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Fidelity Central Funds (cost $5,947) | $5,947 | |
| Other affiliated issuers (cost $787,369,254) | 874,074,924 | |
| Total Investment in Securities (cost $787,375,201) | | $874,080,871 |
| Cash | | 435 |
| Receivable for investments sold | | 7,770,823 |
| Receivable for fund shares sold | | 714,884 |
| Total assets | | 882,567,013 |
| Liabilities | | |
| Payable for investments purchased | $7,851,985 | |
| Payable for fund shares redeemed | 633,749 | |
| Accrued management fee | 68,279 | |
| Total liabilities | | 8,554,013 |
| Net Assets | | $874,013,000 |
| Net Assets consist of: | | |
| Paid in capital | | $779,220,708 |
| Total accumulated earnings (loss) | | 94,792,292 |
| Net Assets | | $874,013,000 |
| Net Asset Value and Maximum Offering Price | | |
| Investor Class: | | |
| Net Asset Value, offering price and redemption price per share ($477,015,449 ÷ 33,919,441 shares) | | $14.06 |
| Institutional Premium Class: | | |
| Net Asset Value, offering price and redemption price per share ($389,414,340 ÷ 27,683,429 shares) | | $14.07 |
| Premier Class: | | |
| Net Asset Value, offering price and redemption price per share ($7,583,211 ÷ 539,118 shares) | | $14.07 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $11,245,336 |
| Income from Fidelity Central Funds | | 6 |
| Total income | | 11,245,342 |
| Expenses | | |
| Management fee | $800,954 | |
| Independent trustees' fees and expenses | 2,291 | |
| Total expenses before reductions | 803,245 | |
| Expense reductions | (1) | |
| Total expenses after reductions | | 803,244 |
| Net investment income (loss) | | 10,442,098 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 7,775,694 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 7,919,745 | |
| Total net realized gain (loss) | | 15,695,439 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 94,250,099 | |
| Total change in net unrealized appreciation (depreciation) | | 94,250,099 |
| Net gain (loss) | | 109,945,538 |
| Net increase (decrease) in net assets resulting from operations | | $120,387,636 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $10,442,098 | $12,560,351 |
| Net realized gain (loss) | 15,695,439 | 88,993,318 |
| Change in net unrealized appreciation (depreciation) | 94,250,099 | (98,136,014) |
| Net increase (decrease) in net assets resulting from operations | 120,387,636 | 3,417,655 |
| Distributions to shareholders | (21,511,773) | (99,261,191) |
| Share transactions - net increase (decrease) | 98,235,509 | 208,593,558 |
| Total increase (decrease) in net assets | 197,111,372 | 112,750,022 |
| Net Assets | | |
| Beginning of period | 676,901,628 | 564,151,606 |
| End of period | $874,013,000 | $676,901,628 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Index 2010 Fund Investor Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.33 | $14.17 | $14.25 | $13.72 | $13.03 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .18 | .27 | .30 | .25 | .23 |
| Net realized and unrealized gain (loss) | 1.91 | .04B | .29 | .65 | .71 |
| Total from investment operations | 2.09 | .31 | .59 | .90 | .94 |
| Distributions from net investment income | (.19) | (.27) | (.30) | (.24) | (.22) |
| Distributions from net realized gain | (.17) | (1.88) | (.37) | (.14) | (.02) |
| Total distributions | (.36) | (2.15) | (.67) | (.37)C | (.25)C |
| Net asset value, end of period | $14.06 | $12.33 | $14.17 | $14.25 | $13.72 |
| Total ReturnD | 17.04% | 1.34% | 4.43% | 6.62% | 7.24% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .12% | .12% | .15% | .15% | .15% |
| Expenses net of fee waivers, if any | .12% | .12% | .12% | .12% | .09% |
| Expenses net of all reductions | .12% | .12% | .12% | .12% | .09% |
| Net investment income (loss) | 1.28% | 1.93% | 2.13% | 1.77% | 1.70% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $477,015 | $353,955 | $254,371 | $239,660 | $205,267 |
| Portfolio turnover rateG | 27% | 83% | 45% | 22% | 36% |
A Calculated based on average shares outstanding during the period.
B The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2010 Fund Institutional Premium Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.33 | $14.17 | $14.25 | $13.73 | $13.03 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .18 | .28 | .31 | .26 | .24 |
| Net realized and unrealized gain (loss) | 1.93 | .04B | .29 | .64 | .71 |
| Total from investment operations | 2.11 | .32 | .60 | .90 | .95 |
| Distributions from net investment income | (.19) | (.28) | (.31) | (.24) | (.23) |
| Distributions from net realized gain | (.17) | (1.88) | (.37) | (.14) | (.02) |
| Total distributions | (.37)C | (2.16) | (.68) | (.38) | (.25) |
| Net asset value, end of period | $14.07 | $12.33 | $14.17 | $14.25 | $13.73 |
| Total ReturnD | 17.17% | 1.37% | 4.49% | 6.59% | 7.39% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .08% | .08% | .10% | .10% | .09% |
| Expenses net of fee waivers, if any | .08% | .08% | .06% | .07% | .04% |
| Expenses net of all reductions | .08% | .08% | .06% | .07% | .04% |
| Net investment income (loss) | 1.33% | 1.98% | 2.19% | 1.82% | 1.75% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $389,414 | $322,946 | $309,781 | $319,248 | $286,173 |
| Portfolio turnover rateG | 27% | 83% | 45% | 22% | 36% |
A Calculated based on average shares outstanding during the period.
B The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2010 Fund Premier Class
| Years ended March 31, | 2021 A |
| Selected Per–Share Data | |
| Net asset value, beginning of period | $13.15 |
| Income from Investment Operations | |
| Net investment income (loss)B | .07 |
| Net realized and unrealized gain (loss) | 1.12 |
| Total from investment operations | 1.19 |
| Distributions from net investment income | (.16) |
| Distributions from net realized gain | (.11) |
| Total distributions | (.27) |
| Net asset value, end of period | $14.07 |
| Total ReturnC,D | 9.06% |
| Ratios to Average Net AssetsE,F | |
| Expenses before reductions | .06%G |
| Expenses net of fee waivers, if any | .06%G |
| Expenses net of all reductions | .06%G |
| Net investment income (loss) | .64%G |
| Supplemental Data | |
| Net assets, end of period (000 omitted) | $7,583 |
| Portfolio turnover rateH | 27% |
A For the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2015 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Bond Index Fund | 36.8 |
| Fidelity Series Total Market Index Fund | 24.9 |
| Fidelity Series Global ex U.S. Index Fund | 16.7 |
| Fidelity Series Treasury Bill Index Fund | 12.2 |
| Fidelity Series Inflation-Protected Bond Index Fund | 6.4 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 3.0 |
| Fidelity Cash Central Fund 0.06% | 0.0 |
| | 100.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 24.9% |
| | International Equity Funds | 16.7% |
| | Bond Funds | 39.8% |
| | Inflation-Protected Bond Funds | 6.4% |
| | Short-Term Funds | 12.2% |
Percentages shown as 0.0% may reflect amounts less than 0.05%.
Fidelity Freedom® Index 2015 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 24.9% | | | |
| | | Shares | Value |
| Fidelity Series Total Market Index Fund (a) | | | |
| (Cost $385,265,067) | | 38,997,025 | 535,819,121 |
|
| International Equity Funds - 16.7% | | | |
| Fidelity Series Global ex U.S. Index Fund (a) | | | |
| (Cost $266,932,491) | | 24,081,494 | 357,851,007 |
|
| Bond Funds - 39.8% | | | |
| Fidelity Series Bond Index Fund (a) | | 76,430,950 | 791,824,646 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 8,094,522 | 63,946,726 |
| TOTAL BOND FUNDS | | | |
| (Cost $855,063,056) | | | 855,771,372 |
|
| Inflation-Protected Bond Funds - 6.4% | | | |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | | |
| (Cost $130,106,738) | | 12,832,095 | 137,816,704 |
|
| Short-Term Funds - 12.2% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 513 | 513 |
| Fidelity Series Treasury Bill Index Fund (a) | | 26,099,557 | 260,995,575 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $261,046,590) | | | 260,996,088 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $1,898,413,942) | | | 2,148,254,292 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (161,859) |
| NET ASSETS - 100% | | | $2,148,092,433 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $8 |
| Total | $8 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Bond Index Fund | $569,779,591 | $363,471,977 | $117,270,753 | $20,369,814 | $(510,459) | $(23,645,710) | $791,824,646 |
| Fidelity Series Global ex U.S. Index Fund | 270,265,990 | 99,344,623 | 134,809,326 | 5,927,756 | 2,041,097 | 121,008,623 | 357,851,007 |
| Fidelity Series Inflation-Protected Bond Index Fund | 97,440,517 | 52,593,016 | 18,964,914 | 1,676,713 | 115,976 | 6,632,109 | 137,816,704 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 47,428,737 | 42,952,039 | 8,923,141 | 6,627,288 | (209,953) | (17,300,956) | 63,946,726 |
| Fidelity Series Total Market Index Fund | 401,548,581 | 157,784,993 | 246,932,633 | 10,177,428 | 13,886,197 | 209,531,983 | 535,819,121 |
| Fidelity Series Treasury Bill Index Fund | 178,532,622 | 119,649,109 | 36,385,696 | 999,209 | (24,692) | (775,768) | 260,995,575 |
| | $1,564,996,038 | $835,795,757 | $563,286,463 | $45,778,208 | $15,298,166 | $295,450,281 | $2,148,253,779 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $535,819,121 | $535,819,121 | $-- | $-- |
| International Equity Funds | 357,851,007 | 357,851,007 | -- | -- |
| Bond Funds | 993,588,076 | 993,588,076 | -- | -- |
| Short-Term Funds | 260,996,088 | 260,996,088 | -- | -- |
| Total Investments in Securities: | $2,148,254,292 | $2,148,254,292 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2015 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Fidelity Central Funds (cost $513) | $513 | |
| Other affiliated issuers (cost $1,898,413,429) | 2,148,253,779 | |
| Total Investment in Securities (cost $1,898,413,942) | | $2,148,254,292 |
| Cash | | 1,322 |
| Receivable for investments sold | | 23,230,872 |
| Receivable for fund shares sold | | 3,555,984 |
| Total assets | | 2,175,042,470 |
| Liabilities | | |
| Payable for investments purchased | $20,160,984 | |
| Payable for fund shares redeemed | 6,626,098 | |
| Accrued management fee | 162,955 | |
| Total liabilities | | 26,950,037 |
| Net Assets | | $2,148,092,433 |
| Net Assets consist of: | | |
| Paid in capital | | $1,885,595,277 |
| Total accumulated earnings (loss) | | 262,497,156 |
| Net Assets | | $2,148,092,433 |
| Net Asset Value and Maximum Offering Price | | |
| Investor Class: | | |
| Net Asset Value, offering price and redemption price per share ($1,197,346,563 ÷ 79,202,581 shares) | | $15.12 |
| Institutional Premium Class: | | |
| Net Asset Value, offering price and redemption price per share ($789,556,883 ÷ 52,250,342 shares) | | $15.11 |
| Premier Class: | | |
| Net Asset Value, offering price and redemption price per share ($161,188,987 ÷ 10,668,619 shares) | | $15.11 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $27,824,420 |
| Income from Fidelity Central Funds | | 8 |
| Total income | | 27,824,428 |
| Expenses | | |
| Management fee | $1,897,649 | |
| Independent trustees' fees and expenses | 5,357 | |
| Total expenses before reductions | 1,903,006 | |
| Expense reductions | (2) | |
| Total expenses after reductions | | 1,903,004 |
| Net investment income (loss) | | 25,921,424 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 15,298,166 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 17,953,788 | |
| Total net realized gain (loss) | | 33,251,954 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 295,450,281 | |
| Total change in net unrealized appreciation (depreciation) | | 295,450,281 |
| Net gain (loss) | | 328,702,235 |
| Net increase (decrease) in net assets resulting from operations | | $354,623,659 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $25,921,424 | $29,557,836 |
| Net realized gain (loss) | 33,251,954 | 236,214,993 |
| Change in net unrealized appreciation (depreciation) | 295,450,281 | (283,049,557) |
| Net increase (decrease) in net assets resulting from operations | 354,623,659 | (17,276,728) |
| Distributions to shareholders | (52,456,187) | (261,095,790) |
| Share transactions - net increase (decrease) | 281,049,614 | 523,987,798 |
| Total increase (decrease) in net assets | 583,217,086 | 245,615,280 |
| Net Assets | | |
| Beginning of period | 1,564,875,347 | 1,319,260,067 |
| End of period | $2,148,092,433 | $1,564,875,347 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Index 2015 Fund Investor Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.74 | $15.09 | $14.92 | $14.11 | $13.22 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .19 | .29 | .32 | .27 | .25 |
| Net realized and unrealized gain (loss) | 2.59 | (.12) | .33 | .83 | .89 |
| Total from investment operations | 2.78 | .17 | .65 | 1.10 | 1.14 |
| Distributions from net investment income | (.20) | (.29) | (.31) | (.25) | (.24) |
| Distributions from net realized gain | (.19) | (2.23) | (.17) | (.04) | (.01) |
| Total distributions | (.40)B | (2.52) | (.48) | (.29) | (.25) |
| Net asset value, end of period | $15.12 | $12.74 | $15.09 | $14.92 | $14.11 |
| Total ReturnC | 21.92% | (.17)% | 4.55% | 7.82% | 8.71% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .12% | .12% | .15% | .15% | .15% |
| Expenses net of fee waivers, if any | .12% | .12% | .12% | .12% | .10% |
| Expenses net of all reductions | .12% | .12% | .12% | .12% | .10% |
| Net investment income (loss) | 1.32% | 1.93% | 2.12% | 1.81% | 1.80% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $1,197,347 | $887,110 | $721,922 | $637,221 | $516,456 |
| Portfolio turnover rateF | 30% | 87% | 36% | 17% | 29% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2015 Fund Institutional Premium Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.73 | $15.08 | $14.92 | $14.10 | $13.21 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .20 | .30 | .33 | .27 | .25 |
| Net realized and unrealized gain (loss) | 2.58 | (.12) | .31 | .85 | .90 |
| Total from investment operations | 2.78 | .18 | .64 | 1.12 | 1.15 |
| Distributions from net investment income | (.21) | (.29) | (.32) | (.26) | (.25) |
| Distributions from net realized gain | (.19) | (2.23) | (.17) | (.04) | (.01) |
| Total distributions | (.40) | (2.53)B | (.48)B | (.30) | (.26) |
| Net asset value, end of period | $15.11 | $12.73 | $15.08 | $14.92 | $14.10 |
| Total ReturnC | 21.98% | (.15)% | 4.55% | 7.94% | 8.79% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .08% | .08% | .10% | .10% | .09% |
| Expenses net of fee waivers, if any | .08% | .08% | .06% | .07% | .04% |
| Expenses net of all reductions | .08% | .08% | .06% | .07% | .04% |
| Net investment income (loss) | 1.36% | 1.97% | 2.18% | 1.86% | 1.85% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $789,557 | $677,766 | $597,338 | $560,428 | $520,752 |
| Portfolio turnover rateF | 30% | 87% | 36% | 17% | 29% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2015 Fund Premier Class
| Years ended March 31, | 2021 A |
| Selected Per–Share Data | |
| Net asset value, beginning of period | $13.77 |
| Income from Investment Operations | |
| Net investment income (loss)B | .27 |
| Net realized and unrealized gain (loss) | 1.38 |
| Total from investment operations | 1.65 |
| Distributions from net investment income | (.18) |
| Distributions from net realized gain | (.13) |
| Total distributions | (.31) |
| Net asset value, end of period | $15.11 |
| Total ReturnC,D | 11.98% |
| Ratios to Average Net AssetsE,F | |
| Expenses before reductions | .06%G |
| Expenses net of fee waivers, if any | .06%G |
| Expenses net of all reductions | .06%G |
| Net investment income (loss) | 2.36%G |
| Supplemental Data | |
| Net assets, end of period (000 omitted) | $161,189 |
| Portfolio turnover rateH | 30% |
A For the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2020 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Bond Index Fund | 33.1 |
| Fidelity Series Total Market Index Fund | 30.3 |
| Fidelity Series Global ex U.S. Index Fund | 20.2 |
| Fidelity Series Treasury Bill Index Fund | 8.2 |
| Fidelity Series Inflation-Protected Bond Index Fund | 5.2 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 3.0 |
| Fidelity Cash Central Fund 0.06% | 0.0 |
| | 100.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 30.3% |
| | International Equity Funds | 20.2% |
| | Bond Funds | 36.1% |
| | Inflation-Protected Bond Funds | 5.2% |
| | Short-Term Funds | 8.2% |
Percentages shown as 0.0% may reflect amounts less than 0.05%.
Fidelity Freedom® Index 2020 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 30.3% | | | |
| | | Shares | Value |
| Fidelity Series Total Market Index Fund (a) | | | |
| (Cost $1,650,612,556) | | 166,307,468 | 2,285,064,615 |
|
| International Equity Funds - 20.2% | | | |
| Fidelity Series Global ex U.S. Index Fund (a) | | | |
| (Cost $1,172,037,549) | | 102,675,849 | 1,525,763,119 |
|
| Bond Funds - 36.1% | | | |
| Fidelity Series Bond Index Fund (a) | | 241,035,645 | 2,497,129,281 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 28,414,152 | 224,471,798 |
| TOTAL BOND FUNDS | | | |
| (Cost $2,725,620,825) | | | 2,721,601,079 |
|
| Inflation-Protected Bond Funds - 5.2% | | | |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | | |
| (Cost $366,216,793) | | 36,267,143 | 389,509,114 |
|
| Short-Term Funds - 8.2% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 8,008 | 8,009 |
| Fidelity Series Treasury Bill Index Fund (a) | | 61,694,222 | 616,942,224 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $617,084,924) | | | 616,950,233 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $6,531,572,647) | | | 7,538,888,160 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (539,192) |
| NET ASSETS - 100% | | | $7,538,348,968 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $10 |
| Total | $10 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Bond Index Fund | $1,732,759,702 | $1,185,576,249 | $344,159,520 | $63,184,259 | $(2,207,918) | $(74,839,232) | $2,497,129,281 |
| Fidelity Series Global ex U.S. Index Fund | 1,084,026,871 | 388,196,616 | 451,810,856 | 25,034,097 | 3,499,431 | 501,851,057 | 1,525,763,119 |
| Fidelity Series Inflation-Protected Bond Index Fund | 262,939,106 | 156,081,998 | 47,789,521 | 4,723,340 | 340,667 | 17,936,864 | 389,509,114 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 159,563,920 | 154,845,969 | 29,041,629 | 22,985,051 | (1,046,787) | (59,849,675) | 224,471,798 |
| Fidelity Series Total Market Index Fund | 1,610,508,398 | 615,739,725 | 857,096,750 | 42,557,371 | 40,138,273 | 875,774,969 | 2,285,064,615 |
| Fidelity Series Treasury Bill Index Fund | 408,468,808 | 288,582,834 | 78,248,368 | 2,318,463 | (57,803) | (1,803,247) | 616,942,224 |
| | $5,258,266,805 | $2,789,023,391 | $1,808,146,644 | $160,802,581 | $40,665,863 | $1,259,070,736 | $7,538,880,151 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $2,285,064,615 | $2,285,064,615 | $-- | $-- |
| International Equity Funds | 1,525,763,119 | 1,525,763,119 | -- | -- |
| Bond Funds | 3,111,110,193 | 3,111,110,193 | -- | -- |
| Short-Term Funds | 616,950,233 | 616,950,233 | -- | -- |
| Total Investments in Securities: | $7,538,888,160 | $7,538,888,160 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2020 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Fidelity Central Funds (cost $8,009) | $8,009 | |
| Other affiliated issuers (cost $6,531,564,638) | 7,538,880,151 | |
| Total Investment in Securities (cost $6,531,572,647) | | $7,538,888,160 |
| Cash | | 1,474 |
| Receivable for investments sold | | 72,418,091 |
| Receivable for fund shares sold | | 11,907,108 |
| Total assets | | 7,623,214,833 |
| Liabilities | | |
| Payable for investments purchased | $74,021,576 | |
| Payable for fund shares redeemed | 10,304,570 | |
| Accrued management fee | 539,719 | |
| Total liabilities | | 84,865,865 |
| Net Assets | | $7,538,348,968 |
| Net Assets consist of: | | |
| Paid in capital | | $6,500,281,088 |
| Total accumulated earnings (loss) | | 1,038,067,880 |
| Net Assets | | $7,538,348,968 |
| Net Asset Value and Maximum Offering Price | | |
| Investor Class: | | |
| Net Asset Value, offering price and redemption price per share ($3,660,549,534 ÷ 221,260,306 shares) | | $16.54 |
| Institutional Premium Class: | | |
| Net Asset Value, offering price and redemption price per share ($3,331,246,600 ÷ 201,398,503 shares) | | $16.54 |
| Premier Class: | | |
| Net Asset Value, offering price and redemption price per share ($546,552,834 ÷ 33,051,322 shares) | | $16.54 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $101,050,594 |
| Income from Fidelity Central Funds | | 10 |
| Total income | | 101,050,604 |
| Expenses | | |
| Management fee | $6,310,172 | |
| Independent trustees' fees and expenses | 18,405 | |
| Total expenses before reductions | 6,328,577 | |
| Expense reductions | (8) | |
| Total expenses after reductions | | 6,328,569 |
| Net investment income (loss) | | 94,722,035 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 40,667,331 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 59,751,987 | |
| Total net realized gain (loss) | | 100,419,318 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 1,259,070,736 | |
| Total change in net unrealized appreciation (depreciation) | | 1,259,070,736 |
| Net gain (loss) | | 1,359,490,054 |
| Net increase (decrease) in net assets resulting from operations | | $1,454,212,089 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $94,722,035 | $100,716,061 |
| Net realized gain (loss) | 100,419,318 | 774,216,027 |
| Change in net unrealized appreciation (depreciation) | 1,259,070,736 | (1,021,004,486) |
| Net increase (decrease) in net assets resulting from operations | 1,454,212,089 | (146,072,398) |
| Distributions to shareholders | (178,384,868) | (862,509,646) |
| Share transactions - net increase (decrease) | 1,004,637,727 | 1,766,341,135 |
| Total increase (decrease) in net assets | 2,280,464,948 | 757,759,091 |
| Net Assets | | |
| Beginning of period | 5,257,884,020 | 4,500,124,929 |
| End of period | $7,538,348,968 | $5,257,884,020 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Index 2020 Fund Investor Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $13.41 | $16.01 | $15.69 | $14.70 | $13.65 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .22 | .31 | .33 | .29 | .27 |
| Net realized and unrealized gain (loss) | 3.33 | (.31) | .36 | .99 | 1.04 |
| Total from investment operations | 3.55 | –B | .69 | 1.28 | 1.31 |
| Distributions from net investment income | (.23) | (.30) | (.32) | (.27) | (.25) |
| Distributions from net realized gain | (.19) | (2.30) | (.05) | (.02) | (.01) |
| Total distributions | (.42) | (2.60) | (.37) | (.29) | (.26) |
| Net asset value, end of period | $16.54 | $13.41 | $16.01 | $15.69 | $14.70 |
| Total ReturnC | 26.61% | (1.62)% | 4.59% | 8.72% | 9.68% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .12% | .12% | .15% | .15% | .15% |
| Expenses net of fee waivers, if any | .12% | .12% | .11% | .12% | .10% |
| Expenses net of all reductions | .12% | .12% | .11% | .12% | .10% |
| Net investment income (loss) | 1.40% | 1.92% | 2.12% | 1.86% | 1.88% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $3,660,550 | $2,544,746 | $1,971,676 | $1,638,441 | $1,295,896 |
| Portfolio turnover rateF | 28% | 87% | 26% | 11% | 20% |
A Calculated based on average shares outstanding during the period.
B Amount represents less than $.005 per share.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2020 Fund Institutional Premium Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $13.41 | $16.01 | $15.69 | $14.70 | $13.65 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .22 | .31 | .34 | .30 | .27 |
| Net realized and unrealized gain (loss) | 3.33 | (.31) | .36 | .99 | 1.05 |
| Total from investment operations | 3.55 | –B | .70 | 1.29 | 1.32 |
| Distributions from net investment income | (.23) | (.31) | (.33) | (.28) | (.26) |
| Distributions from net realized gain | (.19) | (2.30) | (.05) | (.02) | (.01) |
| Total distributions | (.42) | (2.60)C | (.38) | (.30) | (.27) |
| Net asset value, end of period | $16.54 | $13.41 | $16.01 | $15.69 | $14.70 |
| Total ReturnD | 26.66% | (1.57)% | 4.65% | 8.77% | 9.75% |
| Ratios to Average Net AssetsE,F | | | | | |
| Expenses before reductions | .08% | .08% | .10% | .10% | .09% |
| Expenses net of fee waivers, if any | .08% | .08% | .06% | .07% | .05% |
| Expenses net of all reductions | .08% | .08% | .06% | .07% | .05% |
| Net investment income (loss) | 1.44% | 1.96% | 2.18% | 1.91% | 1.93% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $3,331,247 | $2,713,138 | $2,528,449 | $2,304,112 | $1,994,180 |
| Portfolio turnover rateG | 28% | 87% | 26% | 11% | 20% |
A Calculated based on average shares outstanding during the period.
B Amount represents less than $.005 per share.
C Total distributions per share do not sum due to rounding.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2020 Fund Premier Class
| Years ended March 31, | 2021 A |
| Selected Per–Share Data | |
| Net asset value, beginning of period | $14.69 |
| Income from Investment Operations | |
| Net investment income (loss)B | .30 |
| Net realized and unrealized gain (loss) | 1.88 |
| Total from investment operations | 2.18 |
| Distributions from net investment income | (.20) |
| Distributions from net realized gain | (.12) |
| Total distributions | (.33)C |
| Net asset value, end of period | $16.54 |
| Total ReturnD,E | 14.83% |
| Ratios to Average Net AssetsF,G | |
| Expenses before reductions | .06%H |
| Expenses net of fee waivers, if any | .06%H |
| Expenses net of all reductions | .06%H |
| Net investment income (loss) | 2.40%H |
| Supplemental Data | |
| Net assets, end of period (000 omitted) | $546,553 |
| Portfolio turnover rateI | 28% |
A For the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2025 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Total Market Index Fund | 34.2 |
| Fidelity Series Bond Index Fund | 30.6 |
| Fidelity Series Global ex U.S. Index Fund | 22.8 |
| Fidelity Series Treasury Bill Index Fund | 5.1 |
| Fidelity Series Inflation-Protected Bond Index Fund | 4.3 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 3.0 |
| | 100.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 34.2% |
| | International Equity Funds | 22.8% |
| | Bond Funds | 33.6% |
| | Inflation-Protected Bond Funds | 4.3% |
| | Short-Term Funds | 5.1% |
Fidelity Freedom® Index 2025 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 34.2% | | | |
| | | Shares | Value |
| Fidelity Series Total Market Index Fund (a) | | | |
| (Cost $2,765,120,861) | | 272,724,037 | 3,747,228,265 |
|
| International Equity Funds - 22.8% | | | |
| Fidelity Series Global ex U.S. Index Fund (a) | | | |
| (Cost $2,014,671,988) | | 168,332,175 | 2,501,416,124 |
|
| Bond Funds - 33.6% | | | |
| Fidelity Series Bond Index Fund (a) | | 323,253,338 | 3,348,904,582 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 41,303,132 | 326,294,743 |
| TOTAL BOND FUNDS | | | |
| (Cost $3,718,737,740) | | | 3,675,199,325 |
|
| Inflation-Protected Bond Funds - 4.3% | | | |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | | |
| (Cost $450,064,311) | | 44,246,782 | 475,210,437 |
|
| Short-Term Funds - 5.1% | | | |
| Fidelity Series Treasury Bill Index Fund (a) | | | |
| (Cost $557,569,146) | | 55,740,897 | 557,408,970 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $9,506,164,046) | | | 10,956,463,121 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (768,115) |
| NET ASSETS - 100% | | | $10,955,695,006 |
Legend
(a) Affiliated Fund
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $4 |
| Total | $4 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Bond Index Fund | $1,948,277,810 | $1,869,477,733 | $362,412,909 | $77,440,928 | $(2,782,361) | $(103,655,691) | $3,348,904,582 |
| Fidelity Series Global ex U.S. Index Fund | 1,490,810,954 | 847,060,853 | 576,423,171 | 38,619,935 | 3,753,544 | 736,213,944 | 2,501,416,124 |
| Fidelity Series Inflation-Protected Bond Index Fund | 272,628,331 | 229,227,599 | 46,226,112 | 5,463,959 | 387,385 | 19,193,234 | 475,210,437 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 194,739,531 | 249,179,178 | 33,519,260 | 30,919,749 | (1,273,550) | (82,831,156) | 326,294,743 |
| Fidelity Series Total Market Index Fund | 2,215,132,125 | 1,319,632,667 | 1,131,249,031 | 64,241,246 | 17,591,163 | 1,326,121,341 | 3,747,228,265 |
| Fidelity Series Treasury Bill Index Fund | 289,167,151 | 321,211,692 | 51,564,607 | 1,751,396 | (56,197) | (1,349,069) | 557,408,970 |
| | $6,410,755,902 | $4,835,789,722 | $2,201,395,090 | $218,437,213 | $17,619,984 | $1,893,692,603 | $10,956,463,121 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $3,747,228,265 | $3,747,228,265 | $-- | $-- |
| International Equity Funds | 2,501,416,124 | 2,501,416,124 | -- | -- |
| Bond Funds | 4,150,409,762 | 4,150,409,762 | -- | -- |
| Short-Term Funds | 557,408,970 | 557,408,970 | -- | -- |
| Total Investments in Securities: | $10,956,463,121 | $10,956,463,121 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2025 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $9,506,164,046) | $10,956,463,121 | |
| Total Investment in Securities (cost $9,506,164,046) | | $10,956,463,121 |
| Cash | | 11,192 |
| Receivable for investments sold | | 104,969,070 |
| Receivable for fund shares sold | | 19,193,669 |
| Total assets | | 11,080,637,052 |
| Liabilities | | |
| Payable for investments purchased | $108,889,476 | |
| Payable for fund shares redeemed | 15,274,849 | |
| Accrued management fee | 777,721 | |
| Total liabilities | | 124,942,046 |
| Net Assets | | $10,955,695,006 |
| Net Assets consist of: | | |
| Paid in capital | | $9,490,978,539 |
| Total accumulated earnings (loss) | | 1,464,716,467 |
| Net Assets | | $10,955,695,006 |
| Net Asset Value and Maximum Offering Price | | |
| Investor Class: | | |
| Net Asset Value, offering price and redemption price per share ($5,538,555,799 ÷ 298,977,743 shares) | | $18.52 |
| Institutional Premium Class: | | |
| Net Asset Value, offering price and redemption price per share ($4,504,542,421 ÷ 243,065,924 shares) | | $18.53 |
| Premier Class: | | |
| Net Asset Value, offering price and redemption price per share ($912,596,786 ÷ 49,263,712 shares) | | $18.52 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $140,555,179 |
| Income from Fidelity Central Funds | | 4 |
| Total income | | 140,555,183 |
| Expenses | | |
| Management fee | $8,517,919 | |
| Independent trustees' fees and expenses | 24,007 | |
| Total expenses before reductions | 8,541,926 | |
| Expense reductions | (11) | |
| Total expenses after reductions | | 8,541,915 |
| Net investment income (loss) | | 132,013,268 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 17,620,089 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 77,882,034 | |
| Total net realized gain (loss) | | 95,502,123 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 1,893,692,603 | |
| Total change in net unrealized appreciation (depreciation) | | 1,893,692,603 |
| Net gain (loss) | | 1,989,194,726 |
| Net increase (decrease) in net assets resulting from operations | | $2,121,207,994 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $132,013,268 | $114,917,394 |
| Net realized gain (loss) | 95,502,123 | 731,279,832 |
| Change in net unrealized appreciation (depreciation) | 1,893,692,603 | (1,147,151,072) |
| Net increase (decrease) in net assets resulting from operations | 2,121,207,994 | (300,953,846) |
| Distributions to shareholders | (226,997,470) | (827,608,471) |
| Share transactions - net increase (decrease) | 2,651,196,550 | 2,775,845,410 |
| Total increase (decrease) in net assets | 4,545,407,074 | 1,647,283,093 |
| Net Assets | | |
| Beginning of period | 6,410,287,932 | 4,763,004,839 |
| End of period | $10,955,695,006 | $6,410,287,932 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Index 2025 Fund Investor Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $14.57 | $17.05 | $16.67 | $15.50 | $14.27 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .25 | .33 | .36 | .31 | .29 |
| Net realized and unrealized gain (loss) | 4.13 | (.54) | .38 | 1.17 | 1.22 |
| Total from investment operations | 4.38 | (.21) | .74 | 1.48 | 1.51 |
| Distributions from net investment income | (.25) | (.31) | (.34) | (.29) | (.27) |
| Distributions from net realized gain | (.18) | (1.96) | (.03) | (.02) | (.01) |
| Total distributions | (.43) | (2.27) | (.36)B | (.31) | (.28) |
| Net asset value, end of period | $18.52 | $14.57 | $17.05 | $16.67 | $15.50 |
| Total ReturnC | 30.27% | (2.75)% | 4.64% | 9.53% | 10.67% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .12% | .12% | .15% | .15% | .15% |
| Expenses net of fee waivers, if any | .12% | .12% | .11% | .12% | .10% |
| Expenses net of all reductions | .12% | .12% | .11% | .12% | .10% |
| Net investment income (loss) | 1.46% | 1.93% | 2.13% | 1.91% | 1.97% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $5,538,556 | $3,443,936 | $2,382,206 | $1,761,022 | $1,227,802 |
| Portfolio turnover rateF | 26% | 82% | 19% | 9% | 18% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2025 Fund Institutional Premium Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $14.57 | $17.05 | $16.67 | $15.50 | $14.27 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .26 | .34 | .37 | .32 | .30 |
| Net realized and unrealized gain (loss) | 4.14 | (.54) | .38 | 1.17 | 1.22 |
| Total from investment operations | 4.40 | (.20) | .75 | 1.49 | 1.52 |
| Distributions from net investment income | (.26) | (.32) | (.34) | (.30) | (.28) |
| Distributions from net realized gain | (.18) | (1.96) | (.03) | (.02) | (.01) |
| Total distributions | (.44) | (2.28) | (.37) | (.32) | (.29) |
| Net asset value, end of period | $18.53 | $14.57 | $17.05 | $16.67 | $15.50 |
| Total ReturnB | 30.37% | (2.71)% | 4.70% | 9.58% | 10.74% |
| Ratios to Average Net AssetsC,D | | | | | |
| Expenses before reductions | .08% | .08% | .10% | .10% | .09% |
| Expenses net of fee waivers, if any | .08% | .08% | .05% | .07% | .05% |
| Expenses net of all reductions | .08% | .08% | .05% | .07% | .05% |
| Net investment income (loss) | 1.50% | 1.97% | 2.19% | 1.96% | 2.02% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $4,504,542 | $2,966,352 | $2,380,799 | $1,856,410 | $1,456,538 |
| Portfolio turnover rateE | 26% | 82% | 19% | 9% | 18% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
E Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2025 Fund Premier Class
| Years ended March 31, | 2021 A |
| Selected Per–Share Data | |
| Net asset value, beginning of period | $16.14 |
| Income from Investment Operations | |
| Net investment income (loss)B | .35 |
| Net realized and unrealized gain (loss) | 2.38 |
| Total from investment operations | 2.73 |
| Distributions from net investment income | (.23) |
| Distributions from net realized gain | (.12) |
| Total distributions | (.35) |
| Net asset value, end of period | $18.52 |
| Total ReturnC,D | 16.94% |
| Ratios to Average Net AssetsE,F | |
| Expenses before reductions | .06%G |
| Expenses net of fee waivers, if any | .06%G |
| Expenses net of all reductions | .06%G |
| Net investment income (loss) | 2.53%G |
| Supplemental Data | |
| Net assets, end of period (000 omitted) | $912,597 |
| Portfolio turnover rateH | 26% |
A For the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2030 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Total Market Index Fund | 38.7 |
| Fidelity Series Bond Index Fund | 27.6 |
| Fidelity Series Global ex U.S. Index Fund | 25.8 |
| Fidelity Series Inflation-Protected Bond Index Fund | 3.6 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 3.0 |
| Fidelity Series Treasury Bill Index Fund | 1.3 |
| Fidelity Cash Central Fund 0.06% | 0.0 |
| | 100.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 38.7% |
| | International Equity Funds | 25.8% |
| | Bond Funds | 30.6% |
| | Inflation-Protected Bond Funds | 3.6% |
| | Short-Term Funds | 1.3% |
Percentages shown as 0.0% may reflect amounts less than 0.05%.
Fidelity Freedom® Index 2030 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 38.7% | | | |
| | | Shares | Value |
| Fidelity Series Total Market Index Fund (a) | | | |
| (Cost $3,735,534,888) | | 368,049,079 | 5,056,994,345 |
|
| International Equity Funds - 25.8% | | | |
| Fidelity Series Global ex U.S. Index Fund (a) | | | |
| (Cost $2,725,331,617) | | 227,091,190 | 3,374,575,088 |
|
| Bond Funds - 30.6% | | | |
| Fidelity Series Bond Index Fund (a) | | 348,484,289 | 3,610,297,232 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 49,292,242 | 389,408,709 |
| TOTAL BOND FUNDS | | | |
| (Cost $4,056,014,802) | | | 3,999,705,941 |
|
| Inflation-Protected Bond Funds - 3.6% | | | |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | | |
| (Cost $447,253,299) | | 43,669,662 | 469,012,165 |
|
| Short-Term Funds - 1.3% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 16,106 | 16,109 |
| Fidelity Series Treasury Bill Index Fund (a) | | 17,237,118 | 172,371,179 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $172,473,035) | | | 172,387,288 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $11,136,607,641) | | | 13,072,674,827 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (889,264) |
| NET ASSETS - 100% | | | $13,071,785,563 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $11 |
| Total | $11 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Bond Index Fund | $2,006,678,546 | $2,116,113,854 | $397,752,088 | $81,435,965 | $(3,260,718) | $(111,482,362) | $3,610,297,232 |
| Fidelity Series Global ex U.S. Index Fund | 2,022,394,320 | 1,105,940,243 | 756,265,437 | 52,200,270 | 3,244,392 | 999,261,570 | 3,374,575,088 |
| Fidelity Series Inflation-Protected Bond Index Fund | 233,219,272 | 264,644,377 | 46,988,000 | 5,326,308 | (98,107) | 18,234,623 | 469,012,165 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 228,669,467 | 302,000,911 | 41,597,792 | 36,595,580 | (1,589,460) | (98,074,417) | 389,408,709 |
| Fidelity Series Total Market Index Fund | 3,004,594,636 | 1,688,671,338 | 1,453,939,966 | 86,852,443 | 22,122,697 | 1,795,545,640 | 5,056,994,345 |
| Fidelity Series Treasury Bill Index Fund | -- | 179,260,892 | 6,802,188 | 95,551 | (1,778) | (85,747) | 172,371,179 |
| | $7,495,556,241 | $5,656,631,615 | $2,703,345,471 | $262,506,117 | $20,417,026 | $2,603,399,307 | $13,072,658,718 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $5,056,994,345 | $5,056,994,345 | $-- | $-- |
| International Equity Funds | 3,374,575,088 | 3,374,575,088 | -- | -- |
| Bond Funds | 4,468,718,106 | 4,468,718,106 | -- | -- |
| Short-Term Funds | 172,387,288 | 172,387,288 | -- | -- |
| Total Investments in Securities: | $13,072,674,827 | $13,072,674,827 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2030 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Fidelity Central Funds (cost $16,109) | $16,109 | |
| Other affiliated issuers (cost $11,136,591,532) | 13,072,658,718 | |
| Total Investment in Securities (cost $11,136,607,641) | | $13,072,674,827 |
| Receivable for investments sold | | 138,341,990 |
| Receivable for fund shares sold | | 23,534,456 |
| Distributions receivable from Fidelity Central Funds | | 1 |
| Other receivables | | 2,193 |
| Total assets | | 13,234,553,467 |
| Liabilities | | |
| Payable for investments purchased | $146,292,491 | |
| Payable for fund shares redeemed | 15,585,072 | |
| Accrued management fee | 888,148 | |
| Other payables and accrued expenses | 2,193 | |
| Total liabilities | | 162,767,904 |
| Net Assets | | $13,071,785,563 |
| Net Assets consist of: | | |
| Paid in capital | | $11,115,206,627 |
| Total accumulated earnings (loss) | | 1,956,578,936 |
| Net Assets | | $13,071,785,563 |
| Net Asset Value and Maximum Offering Price | | |
| Investor Class: | | |
| Net Asset Value, offering price and redemption price per share ($6,036,702,317 ÷ 310,432,616 shares) | | $19.45 |
| Institutional Premium Class: | | |
| Net Asset Value, offering price and redemption price per share ($5,916,521,177 ÷ 304,179,355 shares) | | $19.45 |
| Premier Class: | | |
| Net Asset Value, offering price and redemption price per share ($1,118,562,069 ÷ 57,520,868 shares) | | $19.45 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $173,574,202 |
| Income from Fidelity Central Funds | | 11 |
| Total income | | 173,574,213 |
| Expenses | | |
| Management fee | $9,841,472 | |
| Independent trustees' fees and expenses | 28,375 | |
| Total expenses before reductions | 9,869,847 | |
| Expense reductions | (17) | |
| Total expenses after reductions | | 9,869,830 |
| Net investment income (loss) | | 163,704,383 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 20,417,026 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 88,931,915 | |
| Total net realized gain (loss) | | 109,348,941 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 2,603,399,307 | |
| Total change in net unrealized appreciation (depreciation) | | 2,603,399,307 |
| Net gain (loss) | | 2,712,748,248 |
| Net increase (decrease) in net assets resulting from operations | | $2,876,452,631 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $163,704,383 | $137,012,879 |
| Net realized gain (loss) | 109,348,941 | 1,056,140,498 |
| Change in net unrealized appreciation (depreciation) | 2,603,399,307 | (1,674,382,215) |
| Net increase (decrease) in net assets resulting from operations | 2,876,452,631 | (481,228,838) |
| Distributions to shareholders | (273,862,053) | (1,169,499,813) |
| Share transactions - net increase (decrease) | 2,974,151,980 | 3,375,705,070 |
| Total increase (decrease) in net assets | 5,576,742,558 | 1,724,976,419 |
| Net Assets | | |
| Beginning of period | 7,495,043,005 | 5,770,066,586 |
| End of period | $13,071,785,563 | $7,495,043,005 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Index 2030 Fund Investor Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $14.73 | $17.99 | $17.57 | $16.07 | $14.49 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .27 | .34 | .38 | .33 | .31 |
| Net realized and unrealized gain (loss) | 4.91 | (.74) | .41 | 1.50 | 1.57 |
| Total from investment operations | 5.18 | (.40) | .79 | 1.83 | 1.88 |
| Distributions from net investment income | (.27) | (.33) | (.36) | (.31) | (.29) |
| Distributions from net realized gain | (.19) | (2.53) | (.01) | (.01) | (.01) |
| Total distributions | (.46) | (2.86) | (.37) | (.33)B | (.30) |
| Net asset value, end of period | $19.45 | $14.73 | $17.99 | $17.57 | $16.07 |
| Total ReturnC | 35.36% | (4.38)% | 4.71% | 11.35% | 13.07% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .12% | .12% | .15% | .15% | .15% |
| Expenses net of fee waivers, if any | .12% | .12% | .11% | .12% | .10% |
| Expenses net of all reductions | .12% | .12% | .11% | .12% | .10% |
| Net investment income (loss) | 1.52% | 1.92% | 2.14% | 1.92% | 2.03% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $6,036,702 | $3,610,892 | $2,500,479 | $1,856,566 | $1,333,880 |
| Portfolio turnover rateF | 26% | 85% | 14% | 9% | 13% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2030 Fund Institutional Premium Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $14.73 | $18.00 | $17.57 | $16.07 | $14.49 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .28 | .35 | .39 | .34 | .32 |
| Net realized and unrealized gain (loss) | 4.90 | (.75) | .42 | 1.49 | 1.57 |
| Total from investment operations | 5.18 | (.40) | .81 | 1.83 | 1.89 |
| Distributions from net investment income | (.27) | (.34) | (.37) | (.32) | (.30) |
| Distributions from net realized gain | (.19) | (2.53) | (.01) | (.01) | (.01) |
| Total distributions | (.46) | (2.87) | (.38) | (.33) | (.31) |
| Net asset value, end of period | $19.45 | $14.73 | $18.00 | $17.57 | $16.07 |
| Total ReturnB | 35.41% | (4.40)% | 4.82% | 11.39% | 13.13% |
| Ratios to Average Net AssetsC,D | | | | | |
| Expenses before reductions | .08% | .08% | .10% | .10% | .09% |
| Expenses net of fee waivers, if any | .08% | .08% | .05% | .07% | .05% |
| Expenses net of all reductions | .08% | .08% | .05% | .07% | .05% |
| Net investment income (loss) | 1.56% | 1.96% | 2.20% | 1.97% | 2.08% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $5,916,521 | $3,884,151 | $3,269,588 | $2,642,936 | $2,025,502 |
| Portfolio turnover rateE | 26% | 85% | 14% | 9% | 13% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
E Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2030 Fund Premier Class
| Years ended March 31, | 2021 A |
| Selected Per–Share Data | |
| Net asset value, beginning of period | $16.56 |
| Income from Investment Operations | |
| Net investment income (loss)B | .39 |
| Net realized and unrealized gain (loss) | 2.88 |
| Total from investment operations | 3.27 |
| Distributions from net investment income | (.26) |
| Distributions from net realized gain | (.12) |
| Total distributions | (.38) |
| Net asset value, end of period | $19.45 |
| Total ReturnC,D | 19.78% |
| Ratios to Average Net AssetsE,F | |
| Expenses before reductions | .06%G |
| Expenses net of fee waivers, if any | .06%G |
| Expenses net of all reductions | .06%G |
| Net investment income (loss) | 2.66%G |
| Supplemental Data | |
| Net assets, end of period (000 omitted) | $1,118,562 |
| Portfolio turnover rateH | 26% |
A For the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2035 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Total Market Index Fund | 47.9 |
| Fidelity Series Global ex U.S. Index Fund | 31.9 |
| Fidelity Series Bond Index Fund | 17.2 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 3.0 |
| | 100.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 47.9% |
| | International Equity Funds | 31.9% |
| | Bond Funds | 20.2% |
Fidelity Freedom® Index 2035 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 47.9% | | | |
| | | Shares | Value |
| Fidelity Series Total Market Index Fund (a) | | | |
| (Cost $3,857,232,459) | | 371,321,135 | 5,101,952,389 |
|
| International Equity Funds - 31.9% | | | |
| Fidelity Series Global ex U.S. Index Fund (a) | | | |
| (Cost $2,810,349,857) | | 228,734,338 | 3,398,992,258 |
|
| Bond Funds - 20.2% | | | |
| Fidelity Series Bond Index Fund (a) | | 176,367,929 | 1,827,171,741 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 40,271,959 | 318,148,480 |
| TOTAL BOND FUNDS | | | |
| (Cost $2,206,513,991) | | | 2,145,320,221 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $8,874,096,307) | | | 10,646,264,868 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (685,338) |
| NET ASSETS - 100% | | | $10,645,579,530 |
Legend
(a) Affiliated Fund
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $7 |
| Total | $7 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Bond Index Fund | $804,682,448 | $1,256,814,943 | $175,193,407 | $36,576,801 | $(1,421,428) | $(57,710,815) | $1,827,171,741 |
| Fidelity Series Global ex U.S. Index Fund | 1,766,350,334 | 1,268,770,713 | 556,573,858 | 49,951,290 | (227,518) | 920,672,587 | 3,398,992,258 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 164,771,244 | 265,999,233 | 34,878,006 | 28,080,199 | (872,509) | (76,871,482) | 318,148,480 |
| Fidelity Series Total Market Index Fund | 2,621,604,249 | 1,897,278,418 | 1,087,276,998 | 81,751,167 | 2,248,045 | 1,668,098,675 | 5,101,952,389 |
| | $5,357,408,275 | $4,688,863,307 | $1,853,922,269 | $196,359,457 | $(273,410) | $2,454,188,965 | $10,646,264,868 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $5,101,952,389 | $5,101,952,389 | $-- | $-- |
| International Equity Funds | 3,398,992,258 | 3,398,992,258 | -- | -- |
| Bond Funds | 2,145,320,221 | 2,145,320,221 | -- | -- |
| Total Investments in Securities: | $10,646,264,868 | $10,646,264,868 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2035 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $8,874,096,307) | $10,646,264,868 | |
| Total Investment in Securities (cost $8,874,096,307) | | $10,646,264,868 |
| Cash | | 13,417 |
| Receivable for investments sold | | 93,261,202 |
| Receivable for fund shares sold | | 20,088,979 |
| Total assets | | 10,759,628,466 |
| Liabilities | | |
| Payable for investments purchased | $100,964,928 | |
| Payable for fund shares redeemed | 12,385,647 | |
| Accrued management fee | 698,361 | |
| Total liabilities | | 114,048,936 |
| Net Assets | | $10,645,579,530 |
| Net Assets consist of: | | |
| Paid in capital | | $8,872,142,470 |
| Total accumulated earnings (loss) | | 1,773,437,060 |
| Net Assets | | $10,645,579,530 |
| Net Asset Value and Maximum Offering Price | | |
| Investor Class: | | |
| Net Asset Value, offering price and redemption price per share ($5,124,327,373 ÷ 238,924,015 shares) | | $21.45 |
| Institutional Premium Class: | | |
| Net Asset Value, offering price and redemption price per share ($4,357,279,500 ÷ 203,069,304 shares) | | $21.46 |
| Premier Class: | | |
| Net Asset Value, offering price and redemption price per share ($1,163,972,657 ÷ 54,248,751 shares) | | $21.46 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $137,641,081 |
| Income from Fidelity Central Funds | | 7 |
| Total income | | 137,641,088 |
| Expenses | | |
| Management fee | $7,574,703 | |
| Independent trustees' fees and expenses | 21,374 | |
| Total expenses before reductions | 7,596,077 | |
| Expense reductions | (13) | |
| Total expenses after reductions | | 7,596,064 |
| Net investment income (loss) | | 130,045,024 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | (273,410) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 58,718,376 | |
| Total net realized gain (loss) | | 58,444,966 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 2,454,188,965 | |
| Total change in net unrealized appreciation (depreciation) | | 2,454,188,965 |
| Net gain (loss) | | 2,512,633,931 |
| Net increase (decrease) in net assets resulting from operations | | $2,642,678,955 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $130,045,024 | $95,902,909 |
| Net realized gain (loss) | 58,444,966 | 746,932,782 |
| Change in net unrealized appreciation (depreciation) | 2,454,188,965 | (1,379,836,593) |
| Net increase (decrease) in net assets resulting from operations | 2,642,678,955 | (537,000,902) |
| Distributions to shareholders | (192,547,604) | (832,182,362) |
| Share transactions - net increase (decrease) | 2,838,397,595 | 2,708,059,203 |
| Total increase (decrease) in net assets | 5,288,528,946 | 1,338,875,939 |
| Net Assets | | |
| Beginning of period | 5,357,050,584 | 4,018,174,645 |
| End of period | $10,645,579,530 | $5,357,050,584 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Index 2035 Fund Investor Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $15.20 | $19.07 | $18.63 | $16.79 | $14.91 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .30 | .36 | .39 | .34 | .32 |
| Net realized and unrealized gain (loss) | 6.40 | (1.26) | .43 | 1.84 | 1.87 |
| Total from investment operations | 6.70 | (.90) | .82 | 2.18 | 2.19 |
| Distributions from net investment income | (.29) | (.33) | (.37) | (.32) | (.30) |
| Distributions from net realized gain | (.16) | (2.64) | (.01) | (.02) | (.01) |
| Total distributions | (.45) | (2.97) | (.38) | (.34) | (.31) |
| Net asset value, end of period | $21.45 | $15.20 | $19.07 | $18.63 | $16.79 |
| Total ReturnB | 44.28% | (7.39)% | 4.63% | 12.96% | 14.81% |
| Ratios to Average Net AssetsC,D | | | | | |
| Expenses before reductions | .12% | .12% | .15% | .15% | .15% |
| Expenses net of fee waivers, if any | .12% | .12% | .11% | .12% | .10% |
| Expenses net of all reductions | .12% | .12% | .11% | .12% | .10% |
| Net investment income (loss) | 1.56% | 1.87% | 2.08% | 1.89% | 2.02% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $5,124,327 | $2,844,302 | $2,003,135 | $1,390,826 | $936,458 |
| Portfolio turnover rateE | 24% | 80% | 10% | 7% | 13% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
E Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2035 Fund Institutional Premium Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $15.21 | $19.08 | $18.64 | $16.80 | $14.92 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .31 | .37 | .40 | .35 | .33 |
| Net realized and unrealized gain (loss) | 6.39 | (1.26) | .43 | 1.84 | 1.87 |
| Total from investment operations | 6.70 | (.89) | .83 | 2.19 | 2.20 |
| Distributions from net investment income | (.30) | (.34) | (.38) | (.33) | (.31) |
| Distributions from net realized gain | (.16) | (2.64) | (.01) | (.02) | (.01) |
| Total distributions | (.45)B | (2.98) | (.39) | (.35) | (.32) |
| Net asset value, end of period | $21.46 | $15.21 | $19.08 | $18.64 | $16.80 |
| Total ReturnC | 44.31% | (7.33)% | 4.69% | 13.00% | 14.87% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .08% | .08% | .10% | .10% | .09% |
| Expenses net of fee waivers, if any | .08% | .08% | .05% | .07% | .05% |
| Expenses net of all reductions | .08% | .08% | .05% | .07% | .05% |
| Net investment income (loss) | 1.60% | 1.92% | 2.14% | 1.94% | 2.07% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $4,357,280 | $2,512,748 | $2,015,039 | $1,522,603 | $1,130,096 |
| Portfolio turnover rateF | 24% | 80% | 10% | 7% | 13% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2035 Fund Premier Class
| Years ended March 31, | 2021 A |
| Selected Per–Share Data | |
| Net asset value, beginning of period | $17.48 |
| Income from Investment Operations | |
| Net investment income (loss)B | .45 |
| Net realized and unrealized gain (loss) | 3.92 |
| Total from investment operations | 4.37 |
| Distributions from net investment income | (.29) |
| Distributions from net realized gain | (.10) |
| Total distributions | (.39) |
| Net asset value, end of period | $21.46 |
| Total ReturnC,D | 25.06% |
| Ratios to Average Net AssetsE,F | |
| Expenses before reductions | .06%G |
| Expenses net of fee waivers, if any | .06%G |
| Expenses net of all reductions | .06%G |
| Net investment income (loss) | 2.86%G |
| Supplemental Data | |
| Net assets, end of period (000 omitted) | $1,163,973 |
| Portfolio turnover rateH | 24% |
A For the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2040 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Total Market Index Fund | 54.0 |
| Fidelity Series Global ex U.S. Index Fund | 36.0 |
| Fidelity Series Bond Index Fund | 7.0 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 3.0 |
| | 100.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 54.0% |
| | International Equity Funds | 36.0% |
| | Bond Funds | 10.0% |
Fidelity Freedom® Index 2040 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 54.0% | | | |
| | | Shares | Value |
| Fidelity Series Total Market Index Fund (a) | | | |
| (Cost $4,366,207,598) | | 418,372,975 | 5,748,444,670 |
|
| International Equity Funds - 36.0% | | | |
| Fidelity Series Global ex U.S. Index Fund (a) | | | |
| (Cost $3,169,591,500) | | 257,681,635 | 3,829,149,093 |
|
| Bond Funds - 10.0% | | | |
| Fidelity Series Bond Index Fund (a) | | 71,908,043 | 744,967,329 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 40,261,750 | 318,067,824 |
| TOTAL BOND FUNDS | | | |
| (Cost $1,110,073,659) | | | 1,063,035,153 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $8,645,872,757) | | | 10,640,628,916 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (646,947) |
| NET ASSETS - 100% | | | $10,639,981,969 |
Legend
(a) Affiliated Fund
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $12 |
| Total | $12 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Bond Index Fund | $377,706,341 | $476,920,806 | $85,679,440 | $16,008,814 | $(524,009) | $(23,456,369) | $744,967,329 |
| Fidelity Series Global ex U.S. Index Fund | 1,902,639,827 | 1,424,730,678 | 513,873,277 | 56,213,918 | 92,250 | 1,015,559,615 | 3,829,149,093 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 162,230,894 | 272,150,596 | 38,190,245 | 28,197,075 | (1,296,329) | (76,827,092) | 318,067,824 |
| Fidelity Series Total Market Index Fund | 2,824,362,277 | 1,998,941,192 | 912,630,157 | 91,268,044 | (5,366,388) | 1,843,137,746 | 5,748,444,670 |
| | $5,266,939,339 | $4,172,743,272 | $1,550,373,119 | $191,687,851 | $(7,094,476) | $2,758,413,900 | $10,640,628,916 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $5,748,444,670 | $5,748,444,670 | $-- | $-- |
| International Equity Funds | 3,829,149,093 | 3,829,149,093 | -- | -- |
| Bond Funds | 1,063,035,153 | 1,063,035,153 | -- | -- |
| Total Investments in Securities: | $10,640,628,916 | $10,640,628,916 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2040 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $8,645,872,757) | $10,640,628,916 | |
| Total Investment in Securities (cost $8,645,872,757) | | $10,640,628,916 |
| Cash | | 14,326 |
| Receivable for investments sold | | 64,747,735 |
| Receivable for fund shares sold | | 18,270,587 |
| Total assets | | 10,723,661,564 |
| Liabilities | | |
| Payable for investments purchased | $72,447,460 | |
| Payable for fund shares redeemed | 10,570,878 | |
| Accrued management fee | 661,257 | |
| Total liabilities | | 83,679,595 |
| Net Assets | | $10,639,981,969 |
| Net Assets consist of: | | |
| Paid in capital | | $8,644,178,300 |
| Total accumulated earnings (loss) | | 1,995,803,669 |
| Net Assets | | $10,639,981,969 |
| Net Asset Value and Maximum Offering Price | | |
| Investor Class: | | |
| Net Asset Value, offering price and redemption price per share ($4,532,046,844 ÷ 209,031,672 shares) | | $21.68 |
| Institutional Premium Class: | | |
| Net Asset Value, offering price and redemption price per share ($4,910,687,198 ÷ 226,511,384 shares) | | $21.68 |
| Premier Class: | | |
| Net Asset Value, offering price and redemption price per share ($1,197,247,927 ÷ 55,247,846 shares) | | $21.67 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $138,082,275 |
| Income from Fidelity Central Funds | | 12 |
| Total income | | 138,082,287 |
| Expenses | | |
| Management fee | $7,335,494 | |
| Independent trustees' fees and expenses | 21,309 | |
| Total expenses before reductions | 7,356,803 | |
| Expense reductions | (11) | |
| Total expenses after reductions | | 7,356,792 |
| Net investment income (loss) | | 130,725,495 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | (7,094,476) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 53,605,576 | |
| Total net realized gain (loss) | | 46,511,100 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 2,758,413,900 | |
| Total change in net unrealized appreciation (depreciation) | | 2,758,413,900 |
| Net gain (loss) | | 2,804,925,000 |
| Net increase (decrease) in net assets resulting from operations | | $2,935,650,495 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $130,725,495 | $94,224,108 |
| Net realized gain (loss) | 46,511,100 | 847,119,448 |
| Change in net unrealized appreciation (depreciation) | 2,758,413,900 | (1,557,654,334) |
| Net increase (decrease) in net assets resulting from operations | 2,935,650,495 | (616,310,778) |
| Distributions to shareholders | (181,073,323) | (928,689,470) |
| Share transactions - net increase (decrease) | 2,618,792,682 | 2,675,344,924 |
| Total increase (decrease) in net assets | 5,373,369,854 | 1,130,344,676 |
| Net Assets | | |
| Beginning of period | 5,266,612,115 | 4,136,267,439 |
| End of period | $10,639,981,969 | $5,266,612,115 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Index 2040 Fund Investor Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $14.77 | $19.19 | $18.77 | $16.90 | $15.00 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .30 | .35 | .39 | .34 | .32 |
| Net realized and unrealized gain (loss) | 7.03 | (1.43) | .42 | 1.87 | 1.90 |
| Total from investment operations | 7.33 | (1.08) | .81 | 2.21 | 2.22 |
| Distributions from net investment income | (.29) | (.33) | (.38) | (.33) | (.31) |
| Distributions from net realized gain | (.12) | (3.00) | (.01) | (.02) | (.01) |
| Total distributions | (.42)B | (3.34)B | (.39) | (.34)B | (.32) |
| Net asset value, end of period | $21.68 | $14.77 | $19.19 | $18.77 | $16.90 |
| Total ReturnC | 49.86% | (8.93)% | 4.56% | 13.08% | 14.90% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .12% | .12% | .15% | .15% | .15% |
| Expenses net of fee waivers, if any | .12% | .12% | .11% | .12% | .10% |
| Expenses net of all reductions | .12% | .12% | .11% | .12% | .10% |
| Net investment income (loss) | 1.56% | 1.82% | 2.06% | 1.87% | 2.02% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $4,532,047 | $2,405,077 | $1,731,927 | $1,281,722 | $900,067 |
| Portfolio turnover rateF | 20% | 78% | 10% | 6% | 13% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2040 Fund Institutional Premium Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $14.77 | $19.19 | $18.77 | $16.89 | $15.00 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .31 | .36 | .40 | .35 | .33 |
| Net realized and unrealized gain (loss) | 7.02 | (1.43) | .42 | 1.88 | 1.89 |
| Total from investment operations | 7.33 | (1.07) | .82 | 2.23 | 2.22 |
| Distributions from net investment income | (.30) | (.34) | (.39) | (.34) | (.32) |
| Distributions from net realized gain | (.12) | (3.00) | (.01) | (.02) | (.01) |
| Total distributions | (.42) | (3.35)B | (.40) | (.35)B | (.33) |
| Net asset value, end of period | $21.68 | $14.77 | $19.19 | $18.77 | $16.89 |
| Total ReturnC | 49.89% | (8.89)% | 4.61% | 13.20% | 14.90% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .08% | .08% | .10% | .10% | .09% |
| Expenses net of fee waivers, if any | .08% | .08% | .05% | .07% | .05% |
| Expenses net of all reductions | .08% | .08% | .05% | .07% | .05% |
| Net investment income (loss) | 1.60% | 1.86% | 2.12% | 1.92% | 2.07% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $4,910,687 | $2,861,535 | $2,404,340 | $1,929,498 | $1,438,010 |
| Portfolio turnover rateF | 20% | 78% | 10% | 6% | 13% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2040 Fund Premier Class
| Years ended March 31, | 2021 A |
| Selected Per–Share Data | |
| Net asset value, beginning of period | $17.16 |
| Income from Investment Operations | |
| Net investment income (loss)B | .47 |
| Net realized and unrealized gain (loss) | 4.40 |
| Total from investment operations | 4.87 |
| Distributions from net investment income | (.30) |
| Distributions from net realized gain | (.07) |
| Total distributions | (.36)C |
| Net asset value, end of period | $21.67 |
| Total ReturnD,E | 28.49% |
| Ratios to Average Net AssetsF,G | |
| Expenses before reductions | .06%H |
| Expenses net of fee waivers, if any | .06%H |
| Expenses net of all reductions | .06%H |
| Net investment income (loss) | 2.95%H |
| Supplemental Data | |
| Net assets, end of period (000 omitted) | $1,197,248 |
| Portfolio turnover rateI | 20% |
A For the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2045 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Total Market Index Fund | 54.0 |
| Fidelity Series Global ex U.S. Index Fund | 36.0 |
| Fidelity Series Bond Index Fund | 7.0 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 3.0 |
| | 100.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 54.0% |
| | International Equity Funds | 36.0% |
| | Bond Funds | 10.0% |
Fidelity Freedom® Index 2045 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 54.0% | | | |
| | | Shares | Value |
| Fidelity Series Total Market Index Fund (a) | | | |
| (Cost $3,384,233,600) | | 320,512,793 | 4,403,845,781 |
|
| International Equity Funds - 36.0% | | | |
| Fidelity Series Global ex U.S. Index Fund (a) | | | |
| (Cost $2,452,525,250) | | 197,408,269 | 2,933,486,882 |
|
| Bond Funds - 10.0% | | | |
| Fidelity Series Bond Index Fund (a) | | 55,088,039 | 570,712,086 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 30,844,127 | 243,668,601 |
| TOTAL BOND FUNDS | | | |
| (Cost $853,266,991) | | | 814,380,687 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $6,690,025,841) | | | 8,151,713,350 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (498,050) |
| NET ASSETS - 100% | | | $8,151,215,300 |
Legend
(a) Affiliated Fund
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $8 |
| Total | $8 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Bond Index Fund | $265,381,678 | $384,467,951 | $60,645,615 | $11,745,494 | $(338,278) | $(18,153,650) | $570,712,086 |
| Fidelity Series Global ex U.S. Index Fund | 1,336,844,056 | 1,232,394,511 | 372,305,344 | 41,787,855 | (2,680,426) | 739,234,085 | 2,933,486,882 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 113,985,596 | 215,106,178 | 27,051,704 | 20,805,959 | (856,552) | (57,514,917) | 243,668,601 |
| Fidelity Series Total Market Index Fund | 1,984,476,206 | 1,748,746,071 | 664,682,856 | 67,245,629 | (8,129,970) | 1,343,436,330 | 4,403,845,781 |
| | $3,700,687,536 | $3,580,714,711 | $1,124,685,519 | $141,584,937 | $(12,005,226) | $2,007,001,848 | $8,151,713,350 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $4,403,845,781 | $4,403,845,781 | $-- | $-- |
| International Equity Funds | 2,933,486,882 | 2,933,486,882 | -- | -- |
| Bond Funds | 814,380,687 | 814,380,687 | -- | -- |
| Total Investments in Securities: | $8,151,713,350 | $8,151,713,350 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2045 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $6,690,025,841) | $8,151,713,350 | |
| Total Investment in Securities (cost $6,690,025,841) | | $8,151,713,350 |
| Cash | | 9,881 |
| Receivable for investments sold | | 47,519,414 |
| Receivable for fund shares sold | | 17,273,930 |
| Total assets | | 8,216,516,575 |
| Liabilities | | |
| Payable for investments purchased | $56,519,427 | |
| Payable for fund shares redeemed | 8,273,706 | |
| Accrued management fee | 508,142 | |
| Total liabilities | | 65,301,275 |
| Net Assets | | $8,151,215,300 |
| Net Assets consist of: | | |
| Paid in capital | | $6,691,440,159 |
| Total accumulated earnings (loss) | | 1,459,775,141 |
| Net Assets | | $8,151,215,300 |
| Net Asset Value and Maximum Offering Price | | |
| Investor Class: | | |
| Net Asset Value, offering price and redemption price per share ($3,625,140,549 ÷ 161,184,654 shares) | | $22.49 |
| Institutional Premium Class: | | |
| Net Asset Value, offering price and redemption price per share ($3,397,662,084 ÷ 150,995,743 shares) | | $22.50 |
| Premier Class: | | |
| Net Asset Value, offering price and redemption price per share ($1,128,412,667 ÷ 50,156,476 shares) | | $22.50 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $102,073,357 |
| Income from Fidelity Central Funds | | 8 |
| Total income | | 102,073,365 |
| Expenses | | |
| Management fee | $5,424,369 | |
| Independent trustees' fees and expenses | 15,459 | |
| Total expenses before reductions | 5,439,828 | |
| Expense reductions | (10) | |
| Total expenses after reductions | | 5,439,818 |
| Net investment income (loss) | | 96,633,547 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | (12,005,226) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 39,511,580 | |
| Total net realized gain (loss) | | 27,506,354 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 2,007,001,848 | |
| Total change in net unrealized appreciation (depreciation) | | 2,007,001,848 |
| Net gain (loss) | | 2,034,508,202 |
| Net increase (decrease) in net assets resulting from operations | | $2,131,141,749 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $96,633,547 | $64,532,418 |
| Net realized gain (loss) | 27,506,354 | 484,430,417 |
| Change in net unrealized appreciation (depreciation) | 2,007,001,848 | (986,442,740) |
| Net increase (decrease) in net assets resulting from operations | 2,131,141,749 | (437,479,905) |
| Distributions to shareholders | (131,346,090) | (537,813,779) |
| Share transactions - net increase (decrease) | 2,450,965,587 | 1,985,672,707 |
| Total increase (decrease) in net assets | 4,450,761,246 | 1,010,379,023 |
| Net Assets | | |
| Beginning of period | 3,700,454,054 | 2,690,075,031 |
| End of period | $8,151,215,300 | $3,700,454,054 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Index 2045 Fund Investor Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $15.31 | $19.33 | $18.91 | $17.04 | $15.13 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .31 | .36 | .39 | .35 | .33 |
| Net realized and unrealized gain (loss) | 7.29 | (1.56) | .43 | 1.88 | 1.90 |
| Total from investment operations | 7.60 | (1.20) | .82 | 2.23 | 2.23 |
| Distributions from net investment income | (.30) | (.33) | (.38) | (.33) | (.31) |
| Distributions from net realized gain | (.12) | (2.49) | (.02) | (.03) | (.01) |
| Total distributions | (.42) | (2.82) | (.40) | (.36) | (.32) |
| Net asset value, end of period | $22.49 | $15.31 | $19.33 | $18.91 | $17.04 |
| Total ReturnB | 49.89% | (8.96)% | 4.58% | 13.08% | 14.87% |
| Ratios to Average Net AssetsC,D | | | | | |
| Expenses before reductions | .12% | .12% | .15% | .15% | .15% |
| Expenses net of fee waivers, if any | .12% | .12% | .11% | .12% | .10% |
| Expenses net of all reductions | .12% | .12% | .11% | .12% | .10% |
| Net investment income (loss) | 1.55% | 1.85% | 2.06% | 1.89% | 2.04% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $3,625,141 | $1,810,294 | $1,244,020 | $872,779 | $583,893 |
| Portfolio turnover rateE | 20% | 77% | 10% | 6% | 15% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
E Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2045 Fund Institutional Premium Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $15.32 | $19.33 | $18.92 | $17.04 | $15.13 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .31 | .37 | .40 | .36 | .34 |
| Net realized and unrealized gain (loss) | 7.30 | (1.55) | .42 | 1.89 | 1.90 |
| Total from investment operations | 7.61 | (1.18) | .82 | 2.25 | 2.24 |
| Distributions from net investment income | (.31) | (.34) | (.39) | (.34) | (.32) |
| Distributions from net realized gain | (.12) | (2.49) | (.02) | (.03) | (.01) |
| Total distributions | (.43) | (2.83) | (.41) | (.37) | (.33) |
| Net asset value, end of period | $22.50 | $15.32 | $19.33 | $18.92 | $17.04 |
| Total ReturnB | 49.89% | (8.88)% | 4.58% | 13.20% | 14.94% |
| Ratios to Average Net AssetsC,D | | | | | |
| Expenses before reductions | .08% | .08% | .10% | .10% | .09% |
| Expenses net of fee waivers, if any | .08% | .08% | .05% | .07% | .05% |
| Expenses net of all reductions | .08% | .08% | .05% | .07% | .05% |
| Net investment income (loss) | 1.59% | 1.89% | 2.11% | 1.94% | 2.09% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $3,397,662 | $1,890,160 | $1,446,055 | $1,062,443 | $743,645 |
| Portfolio turnover rateE | 20% | 77% | 10% | 6% | 15% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
E Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2045 Fund Premier Class
| Years ended March 31, | 2021 A |
| Selected Per–Share Data | |
| Net asset value, beginning of period | $17.81 |
| Income from Investment Operations | |
| Net investment income (loss)B | .49 |
| Net realized and unrealized gain (loss) | 4.57 |
| Total from investment operations | 5.06 |
| Distributions from net investment income | (.31) |
| Distributions from net realized gain | (.07) |
| Total distributions | (.37)C |
| Net asset value, end of period | $22.50 |
| Total ReturnD,E | 28.52% |
| Ratios to Average Net AssetsF,G | |
| Expenses before reductions | .06%H |
| Expenses net of fee waivers, if any | .06%H |
| Expenses net of all reductions | .06%H |
| Net investment income (loss) | 2.96%H |
| Supplemental Data | |
| Net assets, end of period (000 omitted) | $1,128,413 |
| Portfolio turnover rateI | 20% |
A For the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2050 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Total Market Index Fund | 54.0 |
| Fidelity Series Global ex U.S. Index Fund | 36.0 |
| Fidelity Series Bond Index Fund | 7.0 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 3.0 |
| | 100.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 54.0% |
| | International Equity Funds | 36.0% |
| | Bond Funds | 10.0% |
Fidelity Freedom® Index 2050 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 54.0% | | | |
| | | Shares | Value |
| Fidelity Series Total Market Index Fund (a) | | | |
| (Cost $3,040,830,752) | | 288,667,611 | 3,966,292,981 |
|
| International Equity Funds - 36.0% | | | |
| Fidelity Series Global ex U.S. Index Fund (a) | | | |
| (Cost $2,202,827,812) | | 177,794,351 | 2,642,024,053 |
|
| Bond Funds - 10.0% | | | |
| Fidelity Series Bond Index Fund (a) | | 49,614,637 | 514,007,640 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 27,779,515 | 219,458,170 |
| TOTAL BOND FUNDS | | | |
| (Cost $768,611,389) | | | 733,465,810 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $6,012,269,953) | | | 7,341,782,844 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (444,952) |
| NET ASSETS - 100% | | | $7,341,337,892 |
Legend
(a) Affiliated Fund
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $12 |
| Total | $12 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Bond Index Fund | $239,541,482 | $346,374,090 | $55,228,068 | $10,651,229 | $(375,457) | $(16,304,407) | $514,007,640 |
| Fidelity Series Global ex U.S. Index Fund | 1,206,691,413 | 1,102,921,305 | 337,444,564 | 38,004,717 | (2,066,582) | 671,922,481 | 2,642,024,053 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 102,886,807 | 194,114,659 | 24,666,797 | 18,901,544 | (907,071) | (51,969,428) | 219,458,170 |
| Fidelity Series Total Market Index Fund | 1,791,279,644 | 1,563,689,531 | 600,339,473 | 61,106,046 | (8,162,579) | 1,219,825,858 | 3,966,292,981 |
| | $3,340,399,346 | $3,207,099,585 | $1,017,678,902 | $128,663,536 | $(11,511,689) | $1,823,474,504 | $7,341,782,844 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $3,966,292,981 | $3,966,292,981 | $-- | $-- |
| International Equity Funds | 2,642,024,053 | 2,642,024,053 | -- | -- |
| Bond Funds | 733,465,810 | 733,465,810 | -- | -- |
| Total Investments in Securities: | $7,341,782,844 | $7,341,782,844 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2050 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $6,012,269,953) | $7,341,782,844 | |
| Total Investment in Securities (cost $6,012,269,953) | | $7,341,782,844 |
| Cash | | 8,797 |
| Receivable for investments sold | | 43,587,193 |
| Receivable for fund shares sold | | 18,056,638 |
| Total assets | | 7,403,435,472 |
| Liabilities | | |
| Payable for investments purchased | $50,477,016 | |
| Payable for fund shares redeemed | 11,166,497 | |
| Accrued management fee | 454,067 | |
| Total liabilities | | 62,097,580 |
| Net Assets | | $7,341,337,892 |
| Net Assets consist of: | | |
| Paid in capital | | $6,014,584,247 |
| Total accumulated earnings (loss) | | 1,326,753,645 |
| Net Assets | | $7,341,337,892 |
| Net Asset Value and Maximum Offering Price | | |
| Investor Class: | | |
| Net Asset Value, offering price and redemption price per share ($3,177,557,897 ÷ 140,990,917 shares) | | $22.54 |
| Institutional Premium Class: | | |
| Net Asset Value, offering price and redemption price per share ($3,119,254,997 ÷ 138,391,441 shares) | | $22.54 |
| Premier Class: | | |
| Net Asset Value, offering price and redemption price per share ($1,044,524,998 ÷ 46,351,094 shares) | | $22.54 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $92,765,552 |
| Income from Fidelity Central Funds | | 12 |
| Total income | | 92,765,564 |
| Expenses | | |
| Management fee | $4,872,179 | |
| Independent trustees' fees and expenses | 14,018 | |
| Total expenses before reductions | 4,886,197 | |
| Expense reductions | (8) | |
| Total expenses after reductions | | 4,886,189 |
| Net investment income (loss) | | 87,879,375 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | (11,511,689) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 35,897,984 | |
| Total net realized gain (loss) | | 24,386,295 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 1,823,474,504 | |
| Total change in net unrealized appreciation (depreciation) | | 1,823,474,504 |
| Net gain (loss) | | 1,847,860,799 |
| Net increase (decrease) in net assets resulting from operations | | $1,935,740,174 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $87,879,375 | $57,893,231 |
| Net realized gain (loss) | 24,386,295 | 442,865,384 |
| Change in net unrealized appreciation (depreciation) | 1,823,474,504 | (897,221,134) |
| Net increase (decrease) in net assets resulting from operations | 1,935,740,174 | (396,462,519) |
| Distributions to shareholders | (119,656,404) | (488,861,326) |
| Share transactions - net increase (decrease) | 2,185,062,073 | 1,799,394,306 |
| Total increase (decrease) in net assets | 4,001,145,843 | 914,070,461 |
| Net Assets | | |
| Beginning of period | 3,340,192,049 | 2,426,121,588 |
| End of period | $7,341,337,892 | $3,340,192,049 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Index 2050 Fund Investor Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $15.34 | $19.41 | $19.00 | $17.14 | $15.24 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .31 | .36 | .39 | .35 | .33 |
| Net realized and unrealized gain (loss) | 7.31 | (1.55) | .42 | 1.90 | 1.91 |
| Total from investment operations | 7.62 | (1.19) | .81 | 2.25 | 2.24 |
| Distributions from net investment income | (.30) | (.34) | (.38) | (.33) | (.33) |
| Distributions from net realized gain | (.12) | (2.54) | (.02) | (.06) | (.01) |
| Total distributions | (.42) | (2.88) | (.40) | (.39) | (.34) |
| Net asset value, end of period | $22.54 | $15.34 | $19.41 | $19.00 | $17.14 |
| Total ReturnB | 49.93% | (8.95)% | 4.53% | 13.15% | 14.82% |
| Ratios to Average Net AssetsC,D | | | | | |
| Expenses before reductions | .12% | .12% | .15% | .15% | .15% |
| Expenses net of fee waivers, if any | .12% | .12% | .11% | .12% | .10% |
| Expenses net of all reductions | .12% | .12% | .11% | .12% | .10% |
| Net investment income (loss) | 1.54% | 1.84% | 2.06% | 1.89% | 2.06% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $3,177,558 | $1,524,955 | $1,049,434 | $739,919 | $513,543 |
| Portfolio turnover rateE | 20% | 77% | 12% | 6% | 19% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
E Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2050 Fund Institutional Premium Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $15.34 | $19.41 | $19.00 | $17.14 | $15.24 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .31 | .37 | .40 | .36 | .34 |
| Net realized and unrealized gain (loss) | 7.32 | (1.55) | .42 | 1.90 | 1.91 |
| Total from investment operations | 7.63 | (1.18) | .82 | 2.26 | 2.25 |
| Distributions from net investment income | (.31) | (.34) | (.39) | (.34) | (.34) |
| Distributions from net realized gain | (.12) | (2.54) | (.02) | (.06) | (.01) |
| Total distributions | (.43) | (2.89)B | (.41) | (.40) | (.35) |
| Net asset value, end of period | $22.54 | $15.34 | $19.41 | $19.00 | $17.14 |
| Total ReturnC | 49.96% | (8.91)% | 4.59% | 13.20% | 14.88% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .08% | .08% | .10% | .10% | .09% |
| Expenses net of fee waivers, if any | .08% | .08% | .05% | .07% | .05% |
| Expenses net of all reductions | .08% | .08% | .05% | .07% | .05% |
| Net investment income (loss) | 1.59% | 1.89% | 2.11% | 1.94% | 2.11% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $3,119,255 | $1,815,237 | $1,376,687 | $1,063,718 | $722,781 |
| Portfolio turnover rateF | 20% | 77% | 12% | 6% | 19% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2050 Fund Premier Class
| Years ended March 31, | 2021 A |
| Selected Per–Share Data | |
| Net asset value, beginning of period | $17.84 |
| Income from Investment Operations | |
| Net investment income (loss)B | .50 |
| Net realized and unrealized gain (loss) | 4.57 |
| Total from investment operations | 5.07 |
| Distributions from net investment income | (.31) |
| Distributions from net realized gain | (.07) |
| Total distributions | (.37)C |
| Net asset value, end of period | $22.54 |
| Total ReturnD,E | 28.53% |
| Ratios to Average Net AssetsF,G | |
| Expenses before reductions | .06%H |
| Expenses net of fee waivers, if any | .06%H |
| Expenses net of all reductions | .06%H |
| Net investment income (loss) | 3.03%H |
| Supplemental Data | |
| Net assets, end of period (000 omitted) | $1,044,525 |
| Portfolio turnover rateI | 20% |
A For the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2055 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Total Market Index Fund | 54.0 |
| Fidelity Series Global ex U.S. Index Fund | 36.0 |
| Fidelity Series Bond Index Fund | 7.0 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 3.0 |
| | 100.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 54.0% |
| | International Equity Funds | 36.0% |
| | Bond Funds | 10.0% |
Fidelity Freedom® Index 2055 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 54.0% | | | |
| | | Shares | Value |
| Fidelity Series Total Market Index Fund (a) | | | |
| (Cost $1,729,483,917) | | 160,657,238 | 2,207,430,449 |
|
| International Equity Funds - 36.0% | | | |
| Fidelity Series Global ex U.S. Index Fund (a) | | | |
| (Cost $1,244,870,475) | | 98,951,047 | 1,470,412,558 |
|
| Bond Funds - 10.0% | | | |
| Fidelity Series Bond Index Fund (a) | | 27,612,763 | 286,068,222 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 15,460,540 | 122,138,262 |
| TOTAL BOND FUNDS | | | |
| (Cost $429,712,124) | | | 408,206,484 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $3,404,066,516) | | | 4,086,049,491 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (257,852) |
| NET ASSETS - 100% | | | $4,085,791,639 |
Legend
(a) Affiliated Fund
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $5 |
| Total | $5 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Bond Index Fund | $113,320,540 | $213,689,703 | $31,556,553 | $5,477,734 | $(210,388) | $(9,175,080) | $286,068,222 |
| Fidelity Series Global ex U.S. Index Fund | 570,867,244 | 752,045,550 | 190,588,845 | 19,960,770 | (2,958,959) | 341,047,568 | 1,470,412,558 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 48,672,910 | 115,678,046 | 14,053,405 | 9,782,047 | (549,350) | (27,609,939) | 122,138,262 |
| Fidelity Series Total Market Index Fund | 847,430,888 | 1,080,733,361 | 334,789,716 | 31,608,432 | (5,166,754) | 619,222,670 | 2,207,430,449 |
| | $1,580,291,582 | $2,162,146,660 | $570,988,519 | $66,828,983 | $(8,885,451) | $923,485,219 | $4,086,049,491 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $2,207,430,449 | $2,207,430,449 | $-- | $-- |
| International Equity Funds | 1,470,412,558 | 1,470,412,558 | -- | -- |
| Bond Funds | 408,206,484 | 408,206,484 | -- | -- |
| Total Investments in Securities: | $4,086,049,491 | $4,086,049,491 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2055 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $3,404,066,516) | $4,086,049,491 | |
| Total Investment in Securities (cost $3,404,066,516) | | $4,086,049,491 |
| Cash | | 3,877 |
| Receivable for investments sold | | 23,619,145 |
| Receivable for fund shares sold | | 15,198,524 |
| Total assets | | 4,124,871,037 |
| Liabilities | | |
| Payable for investments purchased | $29,180,835 | |
| Payable for fund shares redeemed | 9,636,613 | |
| Accrued management fee | 261,950 | |
| Total liabilities | | 39,079,398 |
| Net Assets | | $4,085,791,639 |
| Net Assets consist of: | | |
| Paid in capital | | $3,406,687,354 |
| Total accumulated earnings (loss) | | 679,104,285 |
| Net Assets | | $4,085,791,639 |
| Net Asset Value and Maximum Offering Price | | |
| Investor Class: | | |
| Net Asset Value, offering price and redemption price per share ($1,962,061,452 ÷ 106,000,806 shares) | | $18.51 |
| Institutional Premium Class: | | |
| Net Asset Value, offering price and redemption price per share ($1,659,777,018 ÷ 89,570,473 shares) | | $18.53 |
| Premier Class: | | |
| Net Asset Value, offering price and redemption price per share ($463,953,169 ÷ 25,046,859 shares) | | $18.52 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $48,284,601 |
| Income from Fidelity Central Funds | | 5 |
| Total income | | 48,284,606 |
| Expenses | | |
| Management fee | $2,596,320 | |
| Independent trustees' fees and expenses | 7,082 | |
| Total expenses before reductions | 2,603,402 | |
| Expense reductions | (4) | |
| Total expenses after reductions | | 2,603,398 |
| Net investment income (loss) | | 45,681,208 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | (8,885,451) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 18,544,382 | |
| Total net realized gain (loss) | | 9,658,931 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 923,485,219 | |
| Total change in net unrealized appreciation (depreciation) | | 923,485,219 |
| Net gain (loss) | | 933,144,150 |
| Net increase (decrease) in net assets resulting from operations | | $978,825,358 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $45,681,208 | $25,497,925 |
| Net realized gain (loss) | 9,658,931 | 140,432,381 |
| Change in net unrealized appreciation (depreciation) | 923,485,219 | (361,589,048) |
| Net increase (decrease) in net assets resulting from operations | 978,825,358 | (195,658,742) |
| Distributions to shareholders | (60,668,247) | (160,934,870) |
| Share transactions - net increase (decrease) | 1,587,446,404 | 910,128,176 |
| Total increase (decrease) in net assets | 2,505,603,515 | 553,534,564 |
| Net Assets | | |
| Beginning of period | 1,580,188,124 | 1,026,653,560 |
| End of period | $4,085,791,639 | $1,580,188,124 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Index 2055 Fund Investor Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.59 | $15.33 | $15.01 | $13.53 | $12.06 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .26 | .28 | .31 | .28 | .28 |
| Net realized and unrealized gain (loss) | 5.99 | (1.33) | .34 | 1.49 | 1.50 |
| Total from investment operations | 6.25 | (1.05) | .65 | 1.77 | 1.78 |
| Distributions from net investment income | (.24) | (.26) | (.30) | (.26) | (.29) |
| Distributions from net realized gain | (.09) | (1.42) | (.03) | (.04) | (.02) |
| Total distributions | (.33) | (1.69)B | (.33) | (.29)B | (.31) |
| Net asset value, end of period | $18.51 | $12.59 | $15.33 | $15.01 | $13.53 |
| Total ReturnC | 49.88% | (8.94)% | 4.57% | 13.09% | 14.90% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .12% | .12% | .15% | .15% | .15% |
| Expenses net of fee waivers, if any | .12% | .12% | .11% | .12% | .10% |
| Expenses net of all reductions | .12% | .12% | .11% | .12% | .10% |
| Net investment income (loss) | 1.59% | 1.83% | 2.06% | 1.90% | 2.18% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $1,962,061 | $867,162 | $510,460 | $305,192 | $181,697 |
| Portfolio turnover rateF | 21% | 74% | 11% | 6% | 33% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2055 Fund Institutional Premium Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $12.61 | $15.34 | $15.02 | $13.54 | $12.06 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .27 | .29 | .32 | .29 | .28 |
| Net realized and unrealized gain (loss) | 5.99 | (1.33) | .34 | 1.49 | 1.51 |
| Total from investment operations | 6.26 | (1.04) | .66 | 1.78 | 1.79 |
| Distributions from net investment income | (.25) | (.27) | (.30) | (.26) | (.29) |
| Distributions from net realized gain | (.09) | (1.42) | (.03) | (.04) | (.02) |
| Total distributions | (.34) | (1.69) | (.34)B | (.30) | (.31) |
| Net asset value, end of period | $18.53 | $12.61 | $15.34 | $15.02 | $13.54 |
| Total ReturnC | 49.87% | (8.85)% | 4.61% | 13.13% | 14.98% |
| Ratios to Average Net AssetsD,E | | | | | |
| Expenses before reductions | .08% | .08% | .10% | .10% | .09% |
| Expenses net of fee waivers, if any | .08% | .08% | .05% | .07% | .05% |
| Expenses net of all reductions | .08% | .08% | .05% | .07% | .05% |
| Net investment income (loss) | 1.63% | 1.87% | 2.12% | 1.95% | 2.23% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $1,659,777 | $713,027 | $516,194 | $342,884 | $210,752 |
| Portfolio turnover rateF | 21% | 74% | 11% | 6% | 33% |
A Calculated based on average shares outstanding during the period.
B Total distributions per share do not sum due to rounding.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2055 Fund Premier Class
| Years ended March 31, | 2021 A |
| Selected Per–Share Data | |
| Net asset value, beginning of period | $14.66 |
| Income from Investment Operations | |
| Net investment income (loss)B | .39 |
| Net realized and unrealized gain (loss) | 3.77 |
| Total from investment operations | 4.16 |
| Distributions from net investment income | (.25) |
| Distributions from net realized gain | (.05) |
| Total distributions | (.30) |
| Net asset value, end of period | $18.52 |
| Total ReturnC,D | 28.47% |
| Ratios to Average Net AssetsE,F | |
| Expenses before reductions | .06%G |
| Expenses net of fee waivers, if any | .06%G |
| Expenses net of all reductions | .06%G |
| Net investment income (loss) | 2.84%G |
| Supplemental Data | |
| Net assets, end of period (000 omitted) | $463,953 |
| Portfolio turnover rateH | 21% |
A For the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2060 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Total Market Index Fund | 54.0 |
| Fidelity Series Global ex U.S. Index Fund | 36.0 |
| Fidelity Series Bond Index Fund | 7.0 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 3.0 |
| | 100.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 54.0% |
| | International Equity Funds | 36.0% |
| | Bond Funds | 10.0% |
Fidelity Freedom® Index 2060 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 54.0% | | | |
| | | Shares | Value |
| Fidelity Series Total Market Index Fund (a) | | | |
| (Cost $698,521,877) | | 64,093,655 | 880,646,823 |
|
| International Equity Funds - 36.0% | | | |
| Fidelity Series Global ex U.S. Index Fund (a) | | | |
| (Cost $501,648,667) | | 39,476,203 | 586,616,378 |
|
| Bond Funds - 10.0% | | | |
| Fidelity Series Bond Index Fund (a) | | 11,015,962 | 114,125,363 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 6,167,900 | 48,726,412 |
| TOTAL BOND FUNDS | | | |
| (Cost $172,007,775) | | | 162,851,775 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $1,372,178,319) | | | 1,630,114,976 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (104,090) |
| NET ASSETS - 100% | | | $1,630,010,886 |
Legend
(a) Affiliated Fund
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $3 |
| Total | $3 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Bond Index Fund | $40,467,977 | $90,763,100 | $13,330,202 | $2,095,164 | $(98,252) | $(3,677,260) | $114,125,363 |
| Fidelity Series Global ex U.S. Index Fund | 203,868,588 | 340,139,350 | 84,455,290 | 7,652,504 | (1,179,389) | 128,243,119 | 586,616,378 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 17,381,604 | 48,171,760 | 5,902,466 | 3,721,351 | (243,452) | (10,681,034) | 48,726,412 |
| Fidelity Series Total Market Index Fund | 302,636,903 | 490,470,571 | 143,802,710 | 11,995,064 | (1,787,055) | 233,129,114 | 880,646,823 |
| | $564,355,072 | $969,544,781 | $247,490,668 | $25,464,083 | $(3,308,148) | $347,013,939 | $1,630,114,976 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $880,646,823 | $880,646,823 | $-- | $-- |
| International Equity Funds | 586,616,378 | 586,616,378 | -- | -- |
| Bond Funds | 162,851,775 | 162,851,775 | -- | -- |
| Total Investments in Securities: | $1,630,114,976 | $1,630,114,976 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2060 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $1,372,178,319) | $1,630,114,976 | |
| Total Investment in Securities (cost $1,372,178,319) | | $1,630,114,976 |
| Cash | | 1,309 |
| Receivable for investments sold | | 8,868,230 |
| Receivable for fund shares sold | | 6,997,608 |
| Total assets | | 1,645,982,123 |
| Liabilities | | |
| Payable for investments purchased | $11,970,261 | |
| Payable for fund shares redeemed | 3,895,447 | |
| Accrued management fee | 105,529 | |
| Total liabilities | | 15,971,237 |
| Net Assets | | $1,630,010,886 |
| Net Assets consist of: | | |
| Paid in capital | | $1,373,151,141 |
| Total accumulated earnings (loss) | | 256,859,745 |
| Net Assets | | $1,630,010,886 |
| Net Asset Value and Maximum Offering Price | | |
| Investor Class: | | |
| Net Asset Value, offering price and redemption price per share ($813,216,140 ÷ 51,891,606 shares) | | $15.67 |
| Institutional Premium Class: | | |
| Net Asset Value, offering price and redemption price per share ($633,265,150 ÷ 40,376,243 shares) | | $15.68 |
| Premier Class: | | |
| Net Asset Value, offering price and redemption price per share ($183,529,596 ÷ 11,699,517 shares) | | $15.69 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $18,414,811 |
| Income from Fidelity Central Funds | | 3 |
| Total income | | 18,414,814 |
| Expenses | | |
| Management fee | $998,561 | |
| Independent trustees' fees and expenses | 2,670 | |
| Total expenses before reductions | 1,001,231 | |
| Expense reductions | (1) | |
| Total expenses after reductions | | 1,001,230 |
| Net investment income (loss) | | 17,413,584 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | (3,308,144) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 7,049,272 | |
| Total net realized gain (loss) | | 3,741,128 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 347,013,939 | |
| Total change in net unrealized appreciation (depreciation) | | 347,013,939 |
| Net gain (loss) | | 350,755,067 |
| Net increase (decrease) in net assets resulting from operations | | $368,168,651 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $17,413,584 | $8,519,881 |
| Net realized gain (loss) | 3,741,128 | 28,558,173 |
| Change in net unrealized appreciation (depreciation) | 347,013,939 | (110,266,776) |
| Net increase (decrease) in net assets resulting from operations | 368,168,651 | (73,188,722) |
| Distributions to shareholders | (22,742,707) | (35,361,701) |
| Share transactions - net increase (decrease) | 720,267,363 | 374,298,933 |
| Total increase (decrease) in net assets | 1,065,693,307 | 265,748,510 |
| Net Assets | | |
| Beginning of period | 564,317,579 | 298,569,069 |
| End of period | $1,630,010,886 | $564,317,579 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Index 2060 Fund Investor Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.65 | $12.49 | $12.23 | $11.04 | $9.85 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .23 | .24 | .26 | .24 | .25 |
| Net realized and unrealized gain (loss) | 5.06 | (1.19) | .27 | 1.21 | 1.19 |
| Total from investment operations | 5.29 | (.95) | .53 | 1.45 | 1.44 |
| Distributions from net investment income | (.20) | (.21) | (.24) | (.20) | (.22) |
| Distributions from net realized gain | (.07) | (.68) | (.03) | (.06) | (.03) |
| Total distributions | (.27) | (.89) | (.27) | (.26) | (.25) |
| Net asset value, end of period | $15.67 | $10.65 | $12.49 | $12.23 | $11.04 |
| Total ReturnB | 49.89% | (8.95)% | 4.54% | 13.17% | 14.80% |
| Ratios to Average Net AssetsC,D | | | | | |
| Expenses before reductions | .12% | .12% | .15% | .15% | .15% |
| Expenses net of fee waivers, if any | .12% | .12% | .11% | .12% | .11% |
| Expenses net of all reductions | .12% | .12% | .11% | .12% | .11% |
| Net investment income (loss) | 1.58% | 1.85% | 2.13% | 1.97% | 2.41% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $813,216 | $323,054 | $160,477 | $82,123 | $38,013 |
| Portfolio turnover rateE | 24% | 67% | 15% | 7% | 41% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
E Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2060 Fund Institutional Premium Class
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
| Selected Per–Share Data | | | | | |
| Net asset value, beginning of period | $10.66 | $12.50 | $12.23 | $11.05 | $9.85 |
| Income from Investment Operations | | | | | |
| Net investment income (loss)A | .23 | .24 | .27 | .24 | .26 |
| Net realized and unrealized gain (loss) | 5.07 | (1.19) | .27 | 1.21 | 1.19 |
| Total from investment operations | 5.30 | (.95) | .54 | 1.45 | 1.45 |
| Distributions from net investment income | (.21) | (.21) | (.24) | (.21) | (.22) |
| Distributions from net realized gain | (.07) | (.68) | (.03) | (.06) | (.03) |
| Total distributions | (.28) | (.89) | (.27) | (.27) | (.25) |
| Net asset value, end of period | $15.68 | $10.66 | $12.50 | $12.23 | $11.05 |
| Total ReturnB | 49.92% | (8.93)% | 4.66% | 13.12% | 14.93% |
| Ratios to Average Net AssetsC,D | | | | | |
| Expenses before reductions | .08% | .08% | .10% | .10% | .09% |
| Expenses net of fee waivers, if any | .08% | .08% | .05% | .07% | .06% |
| Expenses net of all reductions | .08% | .08% | .05% | .07% | .06% |
| Net investment income (loss) | 1.62% | 1.90% | 2.19% | 2.02% | 2.47% |
| Supplemental Data | | | | | |
| Net assets, end of period (000 omitted) | $633,265 | $241,263 | $138,092 | $73,658 | $28,478 |
| Portfolio turnover rateE | 24% | 67% | 15% | 7% | 41% |
A Calculated based on average shares outstanding during the period.
B Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
C Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
E Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2060 Fund Premier Class
| Years ended March 31, | 2021 A |
| Selected Per–Share Data | |
| Net asset value, beginning of period | $12.41 |
| Income from Investment Operations | |
| Net investment income (loss)B | .32 |
| Net realized and unrealized gain (loss) | 3.21 |
| Total from investment operations | 3.53 |
| Distributions from net investment income | (.21) |
| Distributions from net realized gain | (.04) |
| Total distributions | (.25) |
| Net asset value, end of period | $15.69 |
| Total ReturnC,D | 28.52% |
| Ratios to Average Net AssetsE,F | |
| Expenses before reductions | .06%G |
| Expenses net of fee waivers, if any | .06%G |
| Expenses net of all reductions | .06%G |
| Net investment income (loss) | 2.82%G |
| Supplemental Data | |
| Net assets, end of period (000 omitted) | $183,530 |
| Portfolio turnover rateH | 24% |
A For the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2065 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Total Market Index Fund | 54.0 |
| Fidelity Series Global ex U.S. Index Fund | 36.0 |
| Fidelity Series Bond Index Fund | 7.0 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 3.0 |
| | 100.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 54.0% |
| | International Equity Funds | 36.0% |
| | Bond Funds | 10.0% |
Fidelity Freedom® Index 2065 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 54.0% | | | |
| | | Shares | Value |
| Fidelity Series Total Market Index Fund (a) | | | |
| (Cost $84,926,557) | | 7,206,376 | 99,015,602 |
|
| International Equity Funds - 36.0% | | | |
| Fidelity Series Global ex U.S. Index Fund (a) | | | |
| (Cost $58,848,108) | | 4,438,523 | 65,956,447 |
|
| Bond Funds - 10.0% | | | |
| Fidelity Series Bond Index Fund (a) | | 1,238,537 | 12,831,238 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 693,462 | 5,478,347 |
| TOTAL BOND FUNDS | | | |
| (Cost $19,526,504) | | | 18,309,585 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $163,301,169) | | | 183,281,634 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (10,987) |
| NET ASSETS - 100% | | | $183,270,647 |
Legend
(a) Affiliated Fund
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $1 |
| Total | $1 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Bond Index Fund | $1,811,096 | $13,190,799 | $1,757,272 | $162,162 | $(13,376) | $(400,009) | $12,831,238 |
| Fidelity Series Global ex U.S. Index Fund | 9,125,477 | 57,601,614 | 9,632,338 | 639,822 | (182,654) | 9,044,348 | 65,956,447 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 777,901 | 6,451,389 | 758,922 | 295,985 | (32,300) | (959,721) | 5,478,347 |
| Fidelity Series Total Market Index Fund | 13,546,305 | 84,196,011 | 15,252,048 | 940,447 | (118,545) | 16,643,879 | 99,015,602 |
| | $25,260,779 | $161,439,813 | $27,400,580 | $2,038,416 | $(346,875) | $24,328,497 | $183,281,634 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $99,015,602 | $99,015,602 | $-- | $-- |
| International Equity Funds | 65,956,447 | 65,956,447 | -- | -- |
| Bond Funds | 18,309,585 | 18,309,585 | -- | -- |
| Total Investments in Securities: | $183,281,634 | $183,281,634 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Index 2065 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $163,301,169) | $183,281,634 | |
| Total Investment in Securities (cost $163,301,169) | | $183,281,634 |
| Cash | | 550 |
| Receivable for investments sold | | 769,467 |
| Receivable for fund shares sold | | 885,400 |
| Total assets | | 184,937,051 |
| Liabilities | | |
| Payable for investments purchased | $1,562,692 | |
| Payable for fund shares redeemed | 92,147 | |
| Accrued management fee | 11,565 | |
| Total liabilities | | 1,666,404 |
| Net Assets | | $183,270,647 |
| Net Assets consist of: | | |
| Paid in capital | | $163,377,317 |
| Total accumulated earnings (loss) | | 19,893,330 |
| Net Assets | | $183,270,647 |
| Net Asset Value and Maximum Offering Price | | |
| Investor Class: | | |
| Net Asset Value, offering price and redemption price per share ($86,436,798 ÷ 6,833,349 shares) | | $12.65 |
| Institutional Premium Class: | | |
| Net Asset Value, offering price and redemption price per share ($66,985,113 ÷ 5,293,742 shares) | | $12.65 |
| Premier Class: | | |
| Net Asset Value, offering price and redemption price per share ($29,848,736 ÷ 2,359,296 shares) | | $12.65 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $1,486,269 |
| Income from Fidelity Central Funds | | 1 |
| Total income | | 1,486,270 |
| Expenses | | |
| Management fee | $77,589 | |
| Independent trustees' fees and expenses | 189 | |
| Total expenses | | 77,778 |
| Net investment income (loss) | | 1,408,492 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | (346,875) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 552,147 | |
| Total net realized gain (loss) | | 205,272 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 24,328,497 | |
| Total change in net unrealized appreciation (depreciation) | | 24,328,497 |
| Net gain (loss) | | 24,533,769 |
| Net increase (decrease) in net assets resulting from operations | | $25,942,261 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | For the period
June 28, 2019 (commencement of operations) to March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $1,408,492 | $260,150 |
| Net realized gain (loss) | 205,272 | 144,613 |
| Change in net unrealized appreciation (depreciation) | 24,328,497 | (4,348,032) |
| Net increase (decrease) in net assets resulting from operations | 25,942,261 | (3,943,269) |
| Distributions to shareholders | (1,821,588) | (284,073) |
| Share transactions - net increase (decrease) | 133,890,708 | 29,486,608 |
| Total increase (decrease) in net assets | 158,011,381 | 25,259,266 |
| Net Assets | | |
| Beginning of period | 25,259,266 | – |
| End of period | $183,270,647 | $25,259,266 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Index 2065 Fund Investor Class
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.60 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .12 | .25 |
| Net realized and unrealized gain (loss) | 4.15 | (1.43) |
| Total from investment operations | 4.27 | (1.18) |
| Distributions from net investment income | (.15) | (.19) |
| Distributions from net realized gain | (.07) | (.02) |
| Total distributions | (.22) | (.22)C |
| Net asset value, end of period | $12.65 | $8.60 |
| Total ReturnD | 49.88% | (12.24)% |
| Ratios to Average Net AssetsE,F | | |
| Expenses before reductions | .12% | .12%G |
| Expenses net of fee waivers, if any | .12% | .12%G |
| Expenses net of all reductions | .12% | .12%G |
| Net investment income (loss) | 1.04% | 3.25%G |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $86,437 | $15,363 |
| Portfolio turnover rateH | 33% | 103%G |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2065 Fund Institutional Premium Class
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.60 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .12 | .25 |
| Net realized and unrealized gain (loss) | 4.15 | (1.43) |
| Total from investment operations | 4.27 | (1.18) |
| Distributions from net investment income | (.15) | (.19) |
| Distributions from net realized gain | (.07) | (.02) |
| Total distributions | (.22) | (.22)C |
| Net asset value, end of period | $12.65 | $8.60 |
| Total ReturnD | 49.92% | (12.23)% |
| Ratios to Average Net AssetsE,F | | |
| Expenses before reductions | .08% | .08%G |
| Expenses net of fee waivers, if any | .08% | .08%G |
| Expenses net of all reductions | .08% | .08%G |
| Net investment income (loss) | 1.08% | 3.29%G |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $66,985 | $9,896 |
| Portfolio turnover rateH | 33% | 103%G |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Index 2065 Fund Premier Class
| Years ended March 31, | 2021 A |
| Selected Per–Share Data | |
| Net asset value, beginning of period | $9.99 |
| Income from Investment Operations | |
| Net investment income (loss)B | .59 |
| Net realized and unrealized gain (loss) | 2.25 |
| Total from investment operations | 2.84 |
| Distributions from net investment income | (.15) |
| Distributions from net realized gain | (.03) |
| Total distributions | (.18) |
| Net asset value, end of period | $12.65 |
| Total ReturnC | 28.47% |
| Ratios to Average Net AssetsD,E | |
| Expenses before reductions | .06%F |
| Expenses net of fee waivers, if any | .06%F |
| Expenses net of all reductions | .06%F |
| Net investment income (loss) | 6.34%F |
| Supplemental Data | |
| Net assets, end of period (000 omitted) | $29,849 |
| Portfolio turnover rateG | 33% |
A For the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Notes to Financial Statements
For the period ended March 31, 2021
1. Organization.
Fidelity Freedom Index Income Fund, Fidelity Freedom Index 2005 Fund, Fidelity Freedom Index 2010 Fund, Fidelity Freedom Index 2015 Fund, Fidelity Freedom Index 2020 Fund, Fidelity Freedom Index 2025 Fund, Fidelity Freedom Index 2030 Fund, Fidelity Freedom Index 2035 Fund, Fidelity Freedom Index 2040 Fund, Fidelity Freedom Index 2045 Fund, Fidelity Freedom Index 2050 Fund, Fidelity Freedom Index 2055 Fund, Fidelity Freedom Index 2060 Fund and Fidelity Freedom Index 2065 Fund (the Funds) are funds of Fidelity Aberdeen Street Trust (the Trust). The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware statutory trust. Each Fund is authorized to issue an unlimited number of shares. Each Fund offers Investor Class, Institutional Premium Class and Premier Class shares, each of which has equal rights as to assets and voting privileges. Premier Class commenced sale of shares on June 24, 2020. Each class has exclusive voting rights with respect to matters that affect that class.
2. Investments in Fidelity Central Funds.
The Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Funds' Schedules of Investments list each of the Fidelity Central Funds held as of period end, if any, as an investment of each Fund, but do not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, each Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
The Money Market Central Funds seek preservation of capital and current income and are managed by the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date ranged from less than .005% to .01%.
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds, which are not covered by the Funds' Report of Independent Registered Public Accounting Firm, are available on the SEC website or upon request.
3. Significant Accounting Policies.
Each Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. Each Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of each Fund:
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Each Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
- Level 1 – quoted prices in active markets for identical investments
- Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
- Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value each Fund's investments by major category are as follows. Investments in open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Investment Transactions and Income. For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Income and capital gain distributions from any underlying mutual funds or exchange-traded funds (ETFs) are recorded on the ex-dividend date.
Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of each Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of each Fund. Each class differs with respect to fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of each Fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds (ETFs). Although not included in each Fund's expenses, each Fund indirectly bears its proportionate share of any underlying mutual funds or exchange-traded funds (ETFs) expenses through the impact of these expenses on each underlying mutual fund's or exchange-traded fund's (ETFs) NAV. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Deferred Trustee Compensation. Under a Deferred Compensation Plan (the Plan) for certain Funds, certain independent Trustees have elected to defer receipt of a portion of their annual compensation. Deferred amounts are invested in affiliated mutual funds, are marked-to-market and remain in a fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees presented below are included in the accompanying Statement of Assets and Liabilities in other receivables and other payables and accrued expenses, as applicable.
| Fidelity Freedom Index 2030 Fund | $2,193 |
Income Tax Information and Distributions to Shareholders. Each year, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. As of March 31, 2021, each Fund did not have any unrecognized tax benefits in the financial statements; nor is each Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. Each Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
Book-tax differences are primarily due to the short-term gain distributions from the underlying mutual funds or exchange-traded funds (ETFs) and losses deferred due to wash sales.
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows for each Fund:
| | Tax cost | Gross unrealized appreciation | Gross unrealized depreciation | Net unrealized appreciation (depreciation) |
| Fidelity Freedom Index Income Fund | $953,846,192 | $56,872,254 | $(13,541,792) | $43,330,462 |
| Fidelity Freedom Index 2005 Fund | 237,140,543 | 19,736,890 | (2,634,265) | 17,102,625 |
| Fidelity Freedom Index 2010 Fund | 789,819,793 | 91,254,793 | (6,993,715) | 84,261,078 |
| Fidelity Freedom Index 2015 Fund | 1,904,788,200 | 260,991,512 | (17,525,420) | 243,466,092 |
| Fidelity Freedom Index 2020 Fund | 6,559,304,636 | 1,041,393,948 | (61,810,424) | 979,583,524 |
| Fidelity Freedom Index 2025 Fund | 9,550,190,263 | 1,510,778,839 | (104,505,981) | 1,406,272,858 |
| Fidelity Freedom Index 2030 Fund | 11,184,824,674 | 2,007,494,672 | (119,644,519) | 1,887,850,153 |
| Fidelity Freedom Index 2035 Fund | 8,913,733,496 | 1,820,438,703 | (87,907,331) | 1,732,531,372 |
| Fidelity Freedom Index 2040 Fund | 8,681,071,746 | 2,022,360,986 | (62,803,816) | 1,959,557,170 |
| Fidelity Freedom Index 2045 Fund | 6,717,077,499 | 1,484,186,907 | (49,551,056) | 1,434,635,851 |
| Fidelity Freedom Index 2050 Fund | 6,039,313,739 | 1,347,388,915 | (44,919,810) | 1,302,469,105 |
| Fidelity Freedom Index 2055 Fund | 3,418,591,537 | 693,930,227 | (26,472,273) | 667,457,954 |
| Fidelity Freedom Index 2060 Fund | 1,377,805,549 | 263,394,148 | (11,084,721) | 252,309,427 |
| Fidelity Freedom Index 2065 Fund | 163,752,213 | 21,000,376 | (1,470,955) | 19,529,421 |
The tax-based components of distributable earnings as of period end were as follows for each Fund:
| | Undistributed ordinary income | Undistributed long-term capital gain | Net unrealized appreciation (depreciation) on securities and other investments |
| Fidelity Freedom Index Income Fund | $1,653,253 | $3,262,393 | $43,330,462 |
| Fidelity Freedom Index 2005 Fund | 687,512 | 1,499,097 | 17,102,625 |
| Fidelity Freedom Index 2010 Fund | 2,267,268 | 8,263,946 | 84,261,078 |
| Fidelity Freedom Index 2015 Fund | 5,607,701 | 13,423,361 | 243,466,092 |
| Fidelity Freedom Index 2020 Fund | 17,726,475 | 40,757,878 | 979,583,524 |
| Fidelity Freedom Index 2025 Fund | 21,724,171 | 36,719,437 | 1,406,272,858 |
| Fidelity Freedom Index 2030 Fund | 24,535,842 | 44,195,133 | 1,887,850,153 |
| Fidelity Freedom Index 2035 Fund | 8,612,395 | 32,293,292 | 1,732,531,372 |
| Fidelity Freedom Index 2040 Fund | 4,794,215 | 31,452,286 | 1,959,557,170 |
| Fidelity Freedom Index 2045 Fund | 2,234,875 | 22,904,415 | 1,434,635,851 |
| Fidelity Freedom Index 2050 Fund | 3,406,376 | 20,878,163 | 1,302,469,105 |
| Fidelity Freedom Index 2055 Fund | 817,357 | 10,828,973 | 667,457,954 |
| Fidelity Freedom Index 2060 Fund | 351,249 | 4,199,070 | 252,309,427 |
| Fidelity Freedom Index 2065 Fund | 17,944 | 345,966 | 19,529,421 |
The tax character of distributions paid was as follows:
| March 31, 2021 | | | |
| | Ordinary Income | Long-term Capital Gains | Total |
| Fidelity Freedom Index Income Fund | $15,038,006 | $2,346,771 | $17,384,777 |
| Fidelity Freedom Index 2005 Fund | 4,509,978 | 949,514 | 5,459,492 |
| Fidelity Freedom Index 2010 Fund | 17,243,995 | 4,267,778 | 21,511,773 |
| Fidelity Freedom Index 2015 Fund | 40,855,832 | 11,600,355 | 52,456,187 |
| Fidelity Freedom Index 2020 Fund | 142,448,517 | 35,936,351 | 178,384,868 |
| Fidelity Freedom Index 2025 Fund | 190,228,325 | 36,769,145 | 226,997,470 |
| Fidelity Freedom Index 2030 Fund | 227,350,731 | 46,511,322 | 273,862,053 |
| Fidelity Freedom Index 2035 Fund | 165,789,771 | 26,757,833 | 192,547,604 |
| Fidelity Freedom Index 2040 Fund | 164,016,123 | 17,057,200 | 181,073,323 |
| Fidelity Freedom Index 2045 Fund | 120,224,537 | 11,121,553 | 131,346,090 |
| Fidelity Freedom Index 2050 Fund | 109,788,546 | 9,867,858 | 119,656,404 |
| Fidelity Freedom Index 2055 Fund | 56,445,213 | 4,223,034 | 60,668,247 |
| Fidelity Freedom Index 2060 Fund | 21,418,348 | 1,324,359 | 22,742,707 |
| Fidelity Freedom Index 2065 Fund | 1,765,827 | 55,761 | 1,821,588 |
| March 31, 2020 | | | |
| | Ordinary Income | Long-term Capital Gains | Total |
| Fidelity Freedom Index Income Fund | $12,335,612 | $22,921,003 | $35,256,615 |
| Fidelity Freedom Index 2005 Fund | 4,283,965 | 12,092,376 | 16,376,341 |
| Fidelity Freedom Index 2010 Fund | 15,861,478 | 83,399,713 | 99,261,191 |
| Fidelity Freedom Index 2015 Fund | 40,561,627 | 220,534,163 | 261,095,790 |
| Fidelity Freedom Index 2020 Fund | 143,245,871 | 719,263,775 | 862,509,646 |
| Fidelity Freedom Index 2025 Fund | 170,960,458 | 656,648,013 | 827,608,471 |
| Fidelity Freedom Index 2030 Fund | 205,496,207 | 964,003,606 | 1,169,499,813 |
| Fidelity Freedom Index 2035 Fund | 155,074,604 | 677,107,758 | 832,182,362 |
| Fidelity Freedom Index 2040 Fund | 151,247,752 | 777,441,718 | 928,689,470 |
| Fidelity Freedom Index 2045 Fund | 108,865,885 | 428,947,894 | 537,813,779 |
| Fidelity Freedom Index 2050 Fund | 95,298,846 | 393,562,480 | 488,861,326 |
| Fidelity Freedom Index 2055 Fund | 45,825,726 | 115,109,144 | 160,934,870 |
| Fidelity Freedom Index 2060 Fund | 15,177,886 | 20,183,815 | 35,361,701 |
| Fidelity Freedom Index 2065 Fund(a) | 284,073 | – | 284,073 |
(a) For the period June 28, 2019 (commencement of operations) to March 31, 2020.
4. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, are noted in the table below.
| | Purchases ($) | Sales ($) |
| Fidelity Freedom Index Income Fund | 654,038,635 | 259,143,336 |
| Fidelity Freedom Index 2005 Fund | 131,741,700 | 73,181,197 |
| Fidelity Freedom Index 2010 Fund | 311,159,521 | 216,058,843 |
| Fidelity Freedom Index 2015 Fund | 835,795,757 | 563,286,463 |
| Fidelity Freedom Index 2020 Fund | 2,789,023,391 | 1,808,146,644 |
| Fidelity Freedom Index 2025 Fund | 4,835,789,722 | 2,201,395,090 |
| Fidelity Freedom Index 2030 Fund | 5,656,631,615 | 2,703,345,471 |
| Fidelity Freedom Index 2035 Fund | 4,688,863,307 | 1,853,922,269 |
| Fidelity Freedom Index 2040 Fund | 4,172,743,272 | 1,550,373,119 |
| Fidelity Freedom Index 2045 Fund | 3,580,714,711 | 1,124,685,519 |
| Fidelity Freedom Index 2050 Fund | 3,207,099,585 | 1,017,678,902 |
| Fidelity Freedom Index 2055 Fund | 2,162,146,660 | 570,988,519 |
| Fidelity Freedom Index 2060 Fund | 969,544,781 | 247,490,668 |
| Fidelity Freedom Index 2065 Fund | 161,439,813 | 27,400,580 |
5. Fees and Other Transactions with Affiliates.
Management Fee and Expense Contract. Fidelity Management & Research Company LLC (the investment adviser) provides the Funds with investment management related services. Under the management contract, Investor Class, Institutional Premium Class and Premier Class of each Fund pays an all-inclusive monthly management fee at an annual rate of .12%, .08% and .06% of class-level average net assets, respectively. Under the management contract, each Fund's investment adviser pays all ordinary operating expenses of the Fund, except fees and expenses of the independent Trustees and certain miscellaneous expenses such as interest expense. In addition, under the expense contract, total expenses, including acquired fund fees and expenses, are limited to an annual rate of .12%, .08% and .06% of class-level average net assets for Investor Class, Institutional Premium Class and Premier Class, respectively, with certain exceptions.
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.
Prior Fiscal Year Reallocation of Underlying Fund Investments. During the prior period, the investment adviser reallocated investments of the Funds. This involved taxable redemptions of the Funds' interest in Fidelity Total Market Index Fund and Fidelity U.S. Bond Index Fund, ("selected Underlying Funds") for investments and cash and non-taxable exchanges of those investments and cash for shares of Fidelity Series Total Market Index Fund and Fidelity Series Bond Index Fund which are affiliated investment companies managed by FMR.
Details of these transactions with the net related gain (loss) for the Funds are presented in the accompanying table:
| | Value of Investments and Cash reallocated | Net realized Gain (Loss) on redemptions of selected Underlying Funds |
| Fidelity Freedom Index Income Fund | $218,412,508 | $25,101,668 |
| Fidelity Freedom Index 2005 Fund | 81,970,344 | 12,946,773 |
| Fidelity Freedom Index 2010 Fund | 373,843,569 | 85,091,106 |
| Fidelity Freedom Index 2015 Fund | 909,878,073 | 226,937,658 |
| Fidelity Freedom Index 2020 Fund | 3,206,030,369 | 747,888,141 |
| Fidelity Freedom Index 2025 Fund | 3,543,130,352 | 702,315,933 |
| Fidelity Freedom Index 2030 Fund | 4,481,892,247 | 1,012,873,985 |
| Fidelity Freedom Index 2035 Fund | 3,025,684,861 | 718,735,210 |
| Fidelity Freedom Index 2040 Fund | 3,050,323,715 | 814,304,613 |
| Fidelity Freedom Index 2045 Fund | 1,992,194,336 | 460,669,562 |
| Fidelity Freedom Index 2050 Fund | 1,795,538,416 | 419,886,749 |
| Fidelity Freedom Index 2055 Fund | 764,549,977 | 130,909,463 |
| Fidelity Freedom Index 2060 Fund | 228,003,007 | 25,706,405 |
Other. During the period, the investment adviser reimbursed certain Funds for certain losses, which are included in Net Realized Gain (Loss) in each Fund's accompanying Statement of Operations, as follows:
| Fidelity Freedom Index Income Fund | $27,086 |
| Fidelity Freedom Index 2005 Fund | 10,306 |
| Fidelity Freedom Index 2010 Fund | 5,828 |
| Fidelity Freedom Index 2020 Fund | 1,468 |
| Fidelity Freedom Index 2025 Fund | 105 |
| Fidelity Freedom Index 2060 Fund | 4 |
6. Expense Reductions.
Through arrangements with each applicable Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce each applicable Fund's or class' expenses. All of the applicable expense reductions are noted in the table below.
| | Custodian credits |
| Fidelity Freedom Index Income Fund | $4 |
| Fidelity Freedom Index 2005 Fund | 92 |
| Fidelity Freedom Index 2010 Fund | 1 |
| Fidelity Freedom Index 2015 Fund | 2 |
| Fidelity Freedom Index 2020 Fund | 8 |
| Fidelity Freedom Index 2025 Fund | 11 |
| Fidelity Freedom Index 2030 Fund | 17 |
| Fidelity Freedom Index 2035 Fund | 13 |
| Fidelity Freedom Index 2040 Fund | 11 |
| Fidelity Freedom Index 2045 Fund | 10 |
| Fidelity Freedom Index 2050 Fund | 8 |
| Fidelity Freedom Index 2055 Fund | 4 |
| Fidelity Freedom Index 2060 Fund | 1 |
7. Distributions to Shareholders.
Distributions to shareholders of each class were as follows:
| | Year ended
March 31, 2021 (a) | Year ended
March 31, 2020 |
| Fidelity Freedom Index Income Fund | | |
| Distributions to shareholders | | |
| Investor Class | $8,412,828 | $17,666,253 |
| Institutional Premium Class | 7,708,099 | 17,590,362 |
| Premier Class | 1,263,850 | – |
| Total | $17,384,777 | $35,256,615 |
| Fidelity Freedom Index 2005 Fund | | |
| Distributions to shareholders | | |
| Investor Class | $3,094,696 | $8,860,842 |
| Institutional Premium Class | 2,342,566 | 7,515,499 |
| Premier Class | 22,230 | – |
| Total | $5,459,492 | $16,376,341 |
| Fidelity Freedom Index 2010 Fund | | |
| Distributions to shareholders | | |
| Investor Class | $11,290,367 | $50,445,337 |
| Institutional Premium Class | 10,170,590 | 48,815,854 |
| Premier Class | 50,816 | – |
| Total | $21,511,773 | $99,261,191 |
| Fidelity Freedom Index 2015 Fund | | |
| Distributions to shareholders | | |
| Investor Class | $29,570,606 | $150,081,688 |
| Institutional Premium Class | 19,997,848 | 111,014,102 |
| Premier Class | 2,887,733 | – |
| Total | $52,456,187 | $261,095,790 |
| Fidelity Freedom Index 2020 Fund | | |
| Distributions to shareholders | | |
| Investor Class | $85,208,069 | $417,629,721 |
| Institutional Premium Class | 84,177,868 | 444,879,925 |
| Premier Class | 8,998,931 | – |
| Total | $178,384,868 | $862,509,646 |
| Fidelity Freedom Index 2025 Fund | | |
| Distributions to shareholders | | |
| Investor Class | $115,896,659 | $444,095,411 |
| Institutional Premium Class | 97,430,146 | 383,513,060 |
| Premier Class | 13,670,665 | – |
| Total | $226,997,470 | $827,608,471 |
| Fidelity Freedom Index 2030 Fund | | |
| Distributions to shareholders | | |
| Investor Class | $126,312,338 | $560,258,274 |
| Institutional Premium Class | 130,580,791 | 609,241,539 |
| Premier Class | 16,968,924 | – |
| Total | $273,862,053 | $1,169,499,813 |
| Fidelity Freedom Index 2035 Fund | | |
| Distributions to shareholders | | |
| Investor Class | $94,053,841 | $439,847,190 |
| Institutional Premium Class | 82,015,645 | 392,335,172 |
| Premier Class | 16,478,118 | – |
| Total | $192,547,604 | $832,182,362 |
| Fidelity Freedom Index 2040 Fund | | |
| Distributions to shareholders | | |
| Investor Class | $77,259,320 | $416,481,373 |
| Institutional Premium Class | 87,999,856 | 512,208,097 |
| Premier Class | 15,814,147 | – |
| Total | $181,073,323 | $928,689,470 |
| Fidelity Freedom Index 2045 Fund | | |
| Distributions to shareholders | | |
| Investor Class | $58,856,169 | $259,811,525 |
| Institutional Premium Class | 57,739,290 | 278,002,254 |
| Premier Class | 14,750,631 | – |
| Total | $131,346,090 | $537,813,779 |
| Fidelity Freedom Index 2050 Fund | | |
| Distributions to shareholders | | |
| Investor Class | $51,192,283 | $219,556,646 |
| Institutional Premium Class | 54,421,670 | 269,304,680 |
| Premier Class | 14,042,451 | – |
| Total | $119,656,404 | $488,861,326 |
| Fidelity Freedom Index 2055 Fund | | |
| Distributions to shareholders | | |
| Investor Class | $29,441,694 | $88,522,571 |
| Institutional Premium Class | 25,548,688 | 72,412,299 |
| Premier Class | 5,677,865 | – |
| Total | $60,668,247 | $160,934,870 |
| Fidelity Freedom Index 2060 Fund | | |
| Distributions to shareholders | | |
| Investor Class | $11,318,290 | $20,175,405 |
| Institutional Premium Class | 9,224,021 | 15,186,296 |
| Premier Class | 2,200,396 | – |
| Total | $22,742,707 | $35,361,701 |
| Fidelity Freedom Index 2065 Fund | | |
| Distributions to shareholders | | |
| Investor Class | $841,482 | $180,525(b) |
| Institutional Premium Class | 687,282 | 103,548(b) |
| Premier Class | 292,824 | – |
| Total | $1,821,588 | $284,073(b) |
(a) Distributions for Premier Class are for the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
(b) For the period June 28, 2019 (commencement of operations) to March 31, 2020.
8. Share Transactions.
Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between affiliated funds:
| | Shares | Shares | Dollars | Dollars |
| | Year ended March 31, 2021 (a) | Year endedMarch 31, 2020 | Year ended March 31, 2021 (a) | Year endedMarch 31, 2020 |
| Fidelity Freedom Index Income Fund | | | | |
| Investor Class | | | | |
| Shares sold | 25,346,654 | 18,120,724 | $313,022,247 | $219,403,823 |
| Reinvestment of distributions | 669,162 | 1,469,229 | 8,284,732 | 17,534,254 |
| Shares redeemed | (12,670,498) | (9,233,820) | (156,674,466) | (111,322,254) |
| Net increase (decrease) | 13,345,318 | 10,356,133 | $164,632,513 | $125,615,823 |
| Institutional Premium Class | | | | |
| Shares sold | 22,139,554 | 13,649,257 | $274,262,737 | $166,135,867 |
| Reinvestment of distributions | 624,286 | 1,476,450 | 7,707,999 | 17,590,362 |
| Shares redeemed | (13,644,960) | (6,800,570) | (169,112,774) | (82,024,088) |
| Net increase (decrease) | 9,118,880 | 8,325,137 | $112,857,962 | $101,702,141 |
| Premier Class | | | | |
| Shares sold | 10,271,674 | – | $127,086,326 | $– |
| Reinvestment of distributions | 100,652 | – | 1,263,850 | – |
| Shares redeemed | (924,567) | – | (11,595,922) | – |
| Net increase (decrease) | 9,447,759 | – | $116,754,254 | $– |
| Fidelity Freedom Index 2005 Fund | | | | |
| Investor Class | | | | |
| Shares sold | 5,948,859 | 4,924,110 | $80,804,523 | $66,250,577 |
| Reinvestment of distributions | 224,144 | 671,288 | 3,069,159 | 8,777,977 |
| Shares redeemed | (3,445,237) | (3,094,720) | (46,986,744) | (41,136,366) |
| Net increase (decrease) | 2,727,766 | 2,500,678 | $36,886,938 | $33,892,188 |
| Institutional Premium Class | | | | |
| Shares sold | 5,645,336 | 3,424,758 | $76,755,285 | $46,049,333 |
| Reinvestment of distributions | 171,436 | 574,632 | 2,342,563 | 7,515,499 |
| Shares redeemed | (4,736,494) | (2,139,680) | (64,741,537) | (28,634,292) |
| Net increase (decrease) | 1,080,278 | 1,859,710 | $14,356,311 | $24,930,540 |
| Premier Class | | | | |
| Shares sold | 600,224 | – | $8,328,392 | $– |
| Reinvestment of distributions | 1,599 | – | 22,230 | – |
| Shares redeemed | (44,365) | – | (613,549) | – |
| Net increase (decrease) | 557,458 | – | $7,737,073 | $– |
| Fidelity Freedom Index 2010 Fund | | | | |
| Investor Class | | | | |
| Shares sold | 14,253,379 | 15,052,440 | $194,656,950 | $211,651,492 |
| Reinvestment of distributions | 815,639 | 3,817,404 | 11,194,136 | 50,115,867 |
| Shares redeemed | (9,852,689) | (8,117,951) | (134,317,265) | (111,527,911) |
| Net increase (decrease) | 5,216,329 | 10,751,893 | $71,533,821 | $150,239,448 |
| Institutional Premium Class | | | | |
| Shares sold | 12,764,960 | 8,143,448 | $175,013,482 | $114,584,658 |
| Reinvestment of distributions | 740,911 | 3,716,766 | 10,170,483 | 48,815,854 |
| Shares redeemed | (12,005,791) | (7,536,761) | (166,079,070) | (105,046,402) |
| Net increase (decrease) | 1,500,080 | 4,323,453 | $19,104,895 | $58,354,110 |
| Premier Class | | | | |
| Shares sold | 634,183 | – | $8,936,506 | $– |
| Reinvestment of distributions | 3,609 | – | 50,816 | – |
| Shares redeemed | (98,674) | – | (1,390,529) | – |
| Net increase (decrease) | 539,118 | – | $7,596,793 | $– |
| Fidelity Freedom Index 2015 Fund | | | | |
| Investor Class | | | | |
| Shares sold | 30,386,441 | 32,650,717 | $439,572,501 | $488,524,806 |
| Reinvestment of distributions | 2,006,976 | 10,761,105 | 29,308,339 | 149,342,418 |
| Shares redeemed | (22,842,196) | (21,601,220) | (330,139,338) | (311,808,556) |
| Net increase (decrease) | 9,551,221 | 21,810,602 | $138,741,502 | $326,058,668 |
| Institutional Premium Class | | | | |
| Shares sold | 23,158,561 | 19,750,349 | $338,139,301 | $295,971,928 |
| Reinvestment of distributions | 1,376,153 | 7,998,029 | 19,997,502 | 111,014,102 |
| Shares redeemed | (25,524,261) | (14,110,815) | (370,171,600) | (209,056,900) |
| Net increase (decrease) | (989,547) | 13,637,563 | $(12,034,797) | $197,929,130 |
| Premier Class | | | | |
| Shares sold | 11,490,600 | – | $166,710,022 | $– |
| Reinvestment of distributions | 192,131 | – | 2,887,733 | – |
| Shares redeemed | (1,014,112) | – | (15,254,846) | – |
| Net increase (decrease) | 10,668,619 | – | $154,342,909 | $– |
| Fidelity Freedom Index 2020 Fund | | | | |
| Investor Class | | | | |
| Shares sold | 93,262,515 | 102,815,807 | $1,457,966,429 | $1,641,767,048 |
| Reinvestment of distributions | 5,341,510 | 27,838,228 | 84,421,816 | 415,616,368 |
| Shares redeemed | (67,103,425) | (64,016,969) | (1,042,246,096) | (984,924,209) |
| Net increase (decrease) | 31,500,600 | 66,637,066 | $500,142,149 | $1,072,459,207 |
| Institutional Premium Class | | | | |
| Shares sold | 92,762,476 | 68,537,330 | $1,462,317,439 | $1,095,334,629 |
| Reinvestment of distributions | 5,347,730 | 29,811,951 | 84,177,292 | 444,879,925 |
| Shares redeemed | (99,086,681) | (53,905,551) | (1,560,326,361) | (846,332,626) |
| Net increase (decrease) | (976,475) | 44,443,730 | $(13,831,630) | $693,881,928 |
| Premier Class | | | | |
| Shares sold | 35,288,761 | – | $554,902,192 | $– |
| Reinvestment of distributions | 550,393 | – | 8,998,931 | – |
| Shares redeemed | (2,787,832) | – | (45,573,915) | – |
| Net increase (decrease) | 33,051,322 | – | $518,327,208 | $– |
| Fidelity Freedom Index 2025 Fund | | | | |
| Investor Class | | | | |
| Shares sold | 136,881,080 | 129,762,256 | $2,374,070,380 | $2,229,728,790 |
| Reinvestment of distributions | 6,533,424 | 26,833,336 | 115,155,009 | 442,284,847 |
| Shares redeemed | (80,881,962) | (59,889,712) | (1,389,266,714) | (991,693,745) |
| Net increase (decrease) | 62,532,542 | 96,705,880 | $1,099,958,675 | $1,680,319,892 |
| Institutional Premium Class | | | | |
| Shares sold | 123,878,730 | 79,710,153 | $2,166,148,471 | $1,368,255,120 |
| Reinvestment of distributions | 5,535,115 | 23,265,479 | 97,428,286 | 383,508,004 |
| Shares redeemed | (89,951,270) | (39,002,808) | (1,569,492,319) | (656,237,606) |
| Net increase (decrease) | 39,462,575 | 63,972,824 | $694,084,438 | $1,095,525,518 |
| Premier Class | | | | |
| Shares sold | 50,993,626 | – | $888,752,718 | $– |
| Reinvestment of distributions | 749,488 | – | 13,670,665 | – |
| Shares redeemed | (2,479,402) | – | (45,269,946) | – |
| Net increase (decrease) | 49,263,712 | – | $857,153,437 | $– |
| Fidelity Freedom Index 2030 Fund | | | | |
| Investor Class | | | | |
| Shares sold | 137,199,675 | 131,157,768 | $2,474,790,896 | $2,360,809,797 |
| Reinvestment of distributions | 6,837,869 | 32,671,366 | 125,630,168 | 558,493,424 |
| Shares redeemed | (78,751,753) | (57,645,518) | (1,400,723,236) | (996,847,484) |
| Net increase (decrease) | 65,285,791 | 106,183,616 | $1,199,697,828 | $1,922,455,737 |
| Institutional Premium Class | | | | |
| Shares sold | 139,414,801 | 87,060,673 | $2,527,931,635 | $1,564,921,464 |
| Reinvestment of distributions | 7,124,570 | 35,635,273 | 130,562,601 | 609,241,539 |
| Shares redeemed | (106,014,008) | (40,732,758) | (1,924,035,828) | (720,913,670) |
| Net increase (decrease) | 40,525,363 | 81,963,188 | $734,458,408 | $1,453,249,333 |
| Premier Class | | | | |
| Shares sold | 58,502,186 | – | $1,058,670,090 | $– |
| Reinvestment of distributions | 890,757 | – | 16,968,924 | – |
| Shares redeemed | (1,872,075) | – | (35,643,270) | – |
| Net increase (decrease) | 57,520,868 | – | $1,039,995,744 | $– |
| Fidelity Freedom Index 2035 Fund | | | | |
| Investor Class | | | | |
| Shares sold | 106,155,011 | 100,117,537 | $2,067,431,912 | $1,909,862,090 |
| Reinvestment of distributions | 4,673,438 | 23,788,624 | 93,610,468 | 437,257,451 |
| Shares redeemed | (58,991,939) | (41,863,894) | (1,126,333,179) | (767,948,063) |
| Net increase (decrease) | 51,836,510 | 82,042,267 | $1,034,709,201 | $1,579,171,478 |
| Institutional Premium Class | | | | |
| Shares sold | 106,175,355 | 64,780,160 | $2,077,170,449 | $1,236,729,019 |
| Reinvestment of distributions | 4,099,741 | 21,343,218 | 82,015,174 | 392,335,171 |
| Shares redeemed | (72,419,322) | (26,541,395) | (1,407,709,200) | (500,176,465) |
| Net increase (decrease) | 37,855,774 | 59,581,983 | $751,476,423 | $1,128,887,725 |
| Premier Class | | | | |
| Shares sold | 55,493,567 | – | $1,078,127,048 | $– |
| Reinvestment of distributions | 793,362 | – | 16,478,118 | – |
| Shares redeemed | (2,038,178) | – | (42,393,195) | – |
| Net increase (decrease) | 54,248,751 | – | $1,052,211,971 | $– |
| Fidelity Freedom Index 2040 Fund | | | | |
| Investor Class | | | | |
| Shares sold | 94,239,000 | 83,553,714 | $1,822,185,978 | $1,588,674,345 |
| Reinvestment of distributions | 3,838,014 | 22,780,078 | 76,912,604 | 415,500,499 |
| Shares redeemed | (51,889,838) | (33,736,635) | (983,958,035) | (621,941,422) |
| Net increase (decrease) | 46,187,176 | 72,597,157 | $915,140,547 | $1,382,233,422 |
| Institutional Premium Class | | | | |
| Shares sold | 108,007,290 | 68,827,317 | $2,095,546,770 | $1,316,598,156 |
| Reinvestment of distributions | 4,401,671 | 28,080,522 | 87,992,005 | 512,208,096 |
| Shares redeemed | (79,690,325) | (28,428,229) | (1,543,658,400) | (535,694,750) |
| Net increase (decrease) | 32,718,636 | 68,479,610 | $639,880,375 | $1,293,111,502 |
| Premier Class | | | | |
| Shares sold | 56,442,508 | – | $1,088,598,987 | $– |
| Reinvestment of distributions | 760,296 | – | 15,814,147 | – |
| Shares redeemed | (1,954,958) | – | (40,641,374) | – |
| Net increase (decrease) | 55,247,846 | – | $1,063,771,760 | $– |
| Fidelity Freedom Index 2045 Fund | | | | |
| Investor Class | | | | |
| Shares sold | 78,456,124 | 63,421,127 | $1,578,786,867 | $1,226,419,370 |
| Reinvestment of distributions | 2,810,714 | 13,723,152 | 58,613,839 | 259,452,300 |
| Shares redeemed | (38,311,512) | (23,283,486) | (755,400,376) | (439,883,432) |
| Net increase (decrease) | 42,955,326 | 53,860,793 | $882,000,330 | $1,045,988,238 |
| Institutional Premium Class | | | | |
| Shares sold | 80,174,675 | 53,748,851 | $1,614,383,345 | $1,045,817,692 |
| Reinvestment of distributions | 2,775,034 | 14,696,143 | 57,738,665 | 278,002,254 |
| Shares redeemed | (55,359,004) | (19,843,917) | (1,103,709,815) | (384,135,477) |
| Net increase (decrease) | 27,590,705 | 48,601,077 | $568,412,195 | $939,684,469 |
| Premier Class | | | | |
| Shares sold | 51,429,572 | – | $1,028,148,325 | $– |
| Reinvestment of distributions | 683,216 | – | 14,750,631 | – |
| Shares redeemed | (1,956,312) | – | (42,345,894) | – |
| Net increase (decrease) | 50,156,476 | – | $1,000,553,062 | $– |
| Fidelity Freedom Index 2050 Fund | | | | |
| Investor Class | | | | |
| Shares sold | 71,868,741 | 53,145,751 | $1,444,342,389 | $1,033,288,905 |
| Reinvestment of distributions | 2,438,984 | 11,562,991 | 50,991,252 | 219,075,876 |
| Shares redeemed | (32,705,269) | (19,380,962) | (647,275,602) | (370,970,702) |
| Net increase (decrease) | 41,602,456 | 45,327,780 | $848,058,039 | $881,394,079 |
| Institutional Premium Class | | | | |
| Shares sold | 73,054,143 | 52,529,880 | $1,470,085,092 | $1,026,003,180 |
| Reinvestment of distributions | 2,613,494 | 14,213,900 | 54,420,683 | 269,304,680 |
| Shares redeemed | (55,592,305) | (19,354,064) | (1,111,340,338) | (377,307,633) |
| Net increase (decrease) | 20,075,332 | 47,389,716 | $413,165,437 | $918,000,227 |
| Premier Class | | | | |
| Shares sold | 47,561,412 | – | $950,165,124 | $– |
| Reinvestment of distributions | 649,212 | – | 14,042,451 | – |
| Shares redeemed | (1,859,530) | – | (40,368,978) | – |
| Net increase (decrease) | 46,351,094 | – | $923,838,597 | $– |
| Fidelity Freedom Index 2055 Fund | | | | |
| Investor Class | | | | |
| Shares sold | 60,294,518 | 42,884,949 | $997,100,585 | $666,320,479 |
| Reinvestment of distributions | 1,697,472 | 5,686,429 | 29,307,832 | 88,362,601 |
| Shares redeemed | (24,863,112) | (12,997,316) | (404,066,375) | (199,707,499) |
| Net increase (decrease) | 37,128,878 | 35,574,062 | $622,342,042 | $554,975,581 |
| Institutional Premium Class | | | | |
| Shares sold | 53,569,338 | 28,059,146 | $890,672,417 | $435,730,475 |
| Reinvestment of distributions | 1,479,045 | 4,654,087 | 25,548,115 | 72,412,299 |
| Shares redeemed | (22,044,549) | (9,792,532) | (367,166,898) | (152,990,179) |
| Net increase (decrease) | 33,003,834 | 22,920,701 | $549,053,634 | $355,152,595 |
| Premier Class | | | | |
| Shares sold | 25,605,310 | – | $425,920,576 | $– |
| Reinvestment of distributions | 319,340 | – | 5,677,865 | – |
| Shares redeemed | (877,791) | – | (15,547,713) | – |
| Net increase (decrease) | 25,046,859 | – | $416,050,728 | $– |
| Fidelity Freedom Index 2060 Fund | | | | |
| Investor Class | | | | |
| Shares sold | 32,693,069 | 22,506,868 | $460,071,253 | $288,991,465 |
| Reinvestment of distributions | 767,367 | 1,529,667 | 11,260,566 | 20,098,123 |
| Shares redeemed | (11,895,916) | (6,557,512) | (164,560,792) | (83,505,195) |
| Net increase (decrease) | 21,564,520 | 17,479,023 | $306,771,027 | $225,584,393 |
| Institutional Premium Class | | | | |
| Shares sold | 28,910,560 | 14,972,083 | $407,106,862 | $192,006,294 |
| Reinvestment of distributions | 628,065 | 1,154,934 | 9,223,907 | 15,184,958 |
| Shares redeemed | (11,790,585) | (4,548,333) | (167,666,933) | (58,476,712) |
| Net increase (decrease) | 17,748,040 | 11,578,684 | $248,663,836 | $148,714,540 |
| Premier Class | | | | |
| Shares sold | 12,065,324 | – | $170,264,870 | $– |
| Reinvestment of distributions | 146,206 | – | 2,200,396 | – |
| Shares redeemed | (512,013) | – | (7,632,766) | – |
| Net increase (decrease) | 11,699,517 | – | $164,832,500 | $– |
| Fidelity Freedom Index 2065 Fund | | | | |
| Investor Class | | | | |
| Shares sold | 6,702,671 | 2,682,829(b) | $77,518,102 | $27,307,154(b) |
| Reinvestment of distributions | 70,990 | 16,987(b) | 835,966 | 180,404(b) |
| Shares redeemed | (1,726,561) | (913,567)(b) | (19,269,585) | (9,606,396)(b) |
| Net increase (decrease) | 5,047,100 | 1,786,249(b) | $59,084,483 | $17,881,162(b) |
| Institutional Premium Class | | | | |
| Shares sold | 5,635,986 | 1,235,896(b) | $64,631,807 | $12,464,580(b) |
| Reinvestment of distributions | 58,293 | 9,750(b) | 687,080 | 103,548(b) |
| Shares redeemed | (1,550,917) | (95,266)(b) | (17,468,608) | (962,682)(b) |
| Net increase (decrease) | 4,143,362 | 1,150,380(b) | $47,850,279 | $11,605,446(b) |
| Premier Class | | | | |
| Shares sold | 2,505,372 | – | $28,691,071 | $– |
| Reinvestment of distributions | 24,121 | – | 292,824 | – |
| Shares redeemed | (170,197) | – | (2,027,949) | – |
| Net increase (decrease) | 2,359,296 | – | $26,955,946 | $– |
(a) Share transactions for Premier Class are for the period June 24, 2020 (commencement of sale of shares) to March 31, 2021.
(b)��For the period June 28, 2019 (commencement of operations) to March 31, 2020.
9. Other.
The Funds' organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Funds. In the normal course of business, the Funds may also enter into contracts that provide general indemnifications. The Funds' maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Funds. The risk of material loss from such claims is considered remote.
The Funds do not invest in underlying mutual funds for the purpose of exercising management or control; however, investments by the Funds within their principal investment strategies may represent a significant portion of the underlying mutual fund's net assets. At the end of the period, the following Funds were the owners of record of 10% or more of the total outstanding shares of the following underlying mutual funds.
| Fund | Fidelity Freedom Index 2020 Fund | Fidelity Freedom Index 2025 Fund | Fidelity Freedom Index 2030 Fund | Fidelity Freedom Index 2035 Fund | Fidelity Freedom Index 2040 Fund | Fidelity Freedom Index 2045 Fund | Fidelity Freedom Index 2050 Fund |
| Fidelity Series Bond Index Fund | 14% | 19% | 21% | 10% | - | - | - |
| Fidelity Series Global ex U.S. Index Fund | - | 10% | 14% | 14% | 16% | 12% | 11% |
| Fidelity Series Treasury Bill Index Fund | 19% | 17% | - | - | - | - | - |
| Fidelity Series Total Market Index Fund | - | 10% | 14% | 14% | 16% | 12% | 11% |
The Funds, in aggregate, were the owners of record of more than 20% of the total outstanding shares of the following underlying mutual funds.
| Fund | % of shares held |
| Fidelity Series Bond Index Fund | 87% |
| Fidelity Series Global ex U.S. Index Fund | 93% |
| Fidelity Series Long-Term Treasury Bond Index Fund | 24% |
| Fidelity Series Treasury Bill Index Fund | 62% |
| Fidelity Series Total Market Index Fund | 93% |
10. Coronavirus (COVID-19) Pandemic.
An outbreak of COVID-19 first detected in China during December 2019 has since spread globally and was declared a pandemic by the World Health Organization during March 2020. Developments that disrupt global economies and financial markets, such as the COVID-19 pandemic, may magnify factors that affect the Funds' performance.
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of Fidelity Aberdeen Street Trust and the Shareholders of Fidelity Freedom Index Income Fund, Fidelity Freedom Index 2005 Fund, Fidelity Freedom Index 2010 Fund, Fidelity Freedom Index 2015 Fund, Fidelity Freedom Index 2020 Fund, Fidelity Freedom Index 2025 Fund, Fidelity Freedom Index 2030 Fund, Fidelity Freedom Index 2035 Fund, Fidelity Freedom Index 2040 Fund, Fidelity Freedom Index 2045 Fund, Fidelity Freedom Index 2050 Fund, Fidelity Freedom Index 2055 Fund, Fidelity Freedom Index 2060 Fund and Fidelity Freedom Index 2065 Fund
Opinion on the Financial Statements and Financial Highlights
We have audited the accompanying statements of assets and liabilities of Fidelity Freedom Index Income Fund, Fidelity Freedom Index 2005 Fund, Fidelity Freedom Index 2010 Fund, Fidelity Freedom Index 2015 Fund, Fidelity Freedom Index 2020 Fund, Fidelity Freedom Index 2025 Fund, Fidelity Freedom Index 2030 Fund, Fidelity Freedom Index 2035 Fund, Fidelity Freedom Index 2040 Fund, Fidelity Freedom Index 2045 Fund, Fidelity Freedom Index 2050 Fund, Fidelity Freedom Index 2055 Fund, Fidelity Freedom Index 2060 Fund and Fidelity Freedom Index 2065 Fund (the “Funds”), each a fund of Fidelity Aberdeen Street Trust, including the schedules of investments, as of March 31, 2021, the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended, except for the statement of changes in net assets, and the financial highlights for the Fidelity Freedom Index 2065 Fund; which are for the year ended March 31, 2021, and for the period from June 28, 2019 (commencement of operations) to March 31, 2020; and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Funds as of March 31, 2021, and the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended (or for the period mentioned above), in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements and financial highlights are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of March 31, 2021, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.
/s/ Deloitte & Touche LLP
Boston, Massachusetts
May 14, 2021
We have served as the auditor of one or more of the Fidelity investment companies since 1999.
Trustees and Officers
The Trustees, Members of the Advisory Board (if any), and officers of the trust and funds, as applicable, are listed below. The Board of Trustees governs each fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee each fund's activities, review contractual arrangements with companies that provide services to each fund, oversee management of the risks associated with such activities and contractual arrangements, and review each fund's performance. If the interests of a fund and an underlying Fidelity® fund were to diverge, a conflict of interest could arise and affect how the Trustees and Members of the Advisory Board fulfill their fiduciary duties to the affected funds. FMR has structured the funds to avoid these potential conflicts, although there may be situations where a conflict of interest is unavoidable. In such instances, FMR, the Trustees, and Members of the Advisory Board would take reasonable steps to minimize and, if possible, eliminate the conflict. Each of the Trustees oversees 283 funds.
The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust. Each Trustee who is not an interested person (as defined in the 1940 Act) of the trust and the funds is referred to herein as an Independent Trustee. Each Independent Trustee shall retire not later than the last day of the calendar year in which his or her 75th birthday occurs. The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees. Officers and Advisory Board Members hold office without limit in time, except that any officer or Advisory Board Member may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years.
Each fund’s Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-800-835-5092 (plan accounts) or 1-800-544-8544 (all other accounts).
Experience, Skills, Attributes, and Qualifications of the Trustees. The Governance and Nominating Committee has adopted a statement of policy that describes the experience, qualifications, attributes, and skills that are necessary and desirable for potential Independent Trustee candidates (Statement of Policy). The Board believes that each Trustee satisfied at the time he or she was initially elected or appointed a Trustee, and continues to satisfy, the standards contemplated by the Statement of Policy. The Governance and Nominating Committee also engages professional search firms to help identify potential Independent Trustee candidates who have the experience, qualifications, attributes, and skills consistent with the Statement of Policy. From time to time, additional criteria based on the composition and skills of the current Independent Trustees, as well as experience or skills that may be appropriate in light of future changes to board composition, business conditions, and regulatory or other developments, have also been considered by the professional search firms and the Governance and Nominating Committee. In addition, the Board takes into account the Trustees' commitment and participation in Board and committee meetings, as well as their leadership of standing and ad hoc committees throughout their tenure.
In determining that a particular Trustee was and continues to be qualified to serve as a Trustee, the Board has considered a variety of criteria, none of which, in isolation, was controlling. The Board believes that, collectively, the Trustees have balanced and diverse experience, qualifications, attributes, and skills, which allow the Board to operate effectively in governing each fund and protecting the interests of shareholders. Information about the specific experience, skills, attributes, and qualifications of each Trustee, which in each case led to the Board's conclusion that the Trustee should serve (or continue to serve) as a trustee of the funds, is provided below.
Board Structure and Oversight Function. Abigail P. Johnson is an interested person and currently serves as Chairman. The Trustees have determined that an interested Chairman is appropriate and benefits shareholders because an interested Chairman has a personal and professional stake in the quality and continuity of services provided to the funds. Independent Trustees exercise their informed business judgment to appoint an individual of their choosing to serve as Chairman, regardless of whether the Trustee happens to be independent or a member of management. The Independent Trustees have determined that they can act independently and effectively without having an Independent Trustee serve as Chairman and that a key structural component for assuring that they are in a position to do so is for the Independent Trustees to constitute a substantial majority for the Board. The Independent Trustees also regularly meet in executive session. Arthur E. Johnson serves as Chairman of the Independent Trustees and as such (i) acts as a liaison between the Independent Trustees and management with respect to matters important to the Independent Trustees and (ii) with management prepares agendas for Board meetings.
Fidelity® funds are overseen by different Boards of Trustees. The funds' Board oversees Fidelity's investment-grade bond, money market, asset allocation and certain equity funds, and other Boards oversee Fidelity's high income and other equity funds. The asset allocation funds may invest in Fidelity® funds that are overseen by such other Boards. The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity® funds to focus on the unique issues of the funds they oversee, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity® funds overseen by each Board.
The Trustees operate using a system of committees to facilitate the timely and efficient consideration of all matters of importance to the Trustees, each fund, and fund shareholders and to facilitate compliance with legal and regulatory requirements and oversight of the funds' activities and associated risks. The Board, acting through its committees, has charged FMR and its affiliates with (i) identifying events or circumstances the occurrence of which could have demonstrably adverse effects on the funds' business and/or reputation; (ii) implementing processes and controls to lessen the possibility that such events or circumstances occur or to mitigate the effects of such events or circumstances if they do occur; and (iii) creating and maintaining a system designed to evaluate continuously business and market conditions in order to facilitate the identification and implementation processes described in (i) and (ii) above. Because the day-to-day operations and activities of the funds are carried out by or through FMR, its affiliates, and other service providers, the funds' exposure to risks is mitigated but not eliminated by the processes overseen by the Trustees. While each of the Board's committees has responsibility for overseeing different aspects of the funds' activities, oversight is exercised primarily through the Operations and Audit Committees. In addition, an ad hoc Board committee of Independent Trustees has worked with FMR to enhance the Board's oversight of investment and financial risks, legal and regulatory risks, technology risks, and operational risks, including the development of additional risk reporting to the Board. Appropriate personnel, including but not limited to the funds' Chief Compliance Officer (CCO), FMR's internal auditor, the independent accountants, the funds' Treasurer and portfolio management personnel, make periodic reports to the Board's committees, as appropriate, including an annual review of Fidelity's risk management program for the Fidelity® funds. The responsibilities of each standing committee, including their oversight responsibilities, are described further under "Standing Committees of the Trustees."
Interested Trustees*:
Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.
Name, Year of Birth; Principal Occupations and Other Relevant Experience+
Abigail P. Johnson (1961)
Year of Election or Appointment: 2009
Trustee
Chairman of the Board of Trustees
Ms. Johnson also serves as Trustee of other Fidelity® funds. Ms. Johnson serves as Chairman (2016-present), Chief Executive Officer (2014-present), and Director (2007-present) of FMR LLC (diversified financial services company), President of Fidelity Financial Services (2012-present) and President of Personal, Workplace and Institutional Services (2005-present). Ms. Johnson is Chairman and Director of Fidelity Management & Research Company LLC (investment adviser firm, 2011-present). Previously, Ms. Johnson served as Chairman and Director of FMR Co., Inc. (investment adviser firm, 2011-2019), Vice Chairman (2007-2016) and President (2013-2016) of FMR LLC, President and a Director of Fidelity Management & Research Company (2001-2005), a Trustee of other investment companies advised by Fidelity Management & Research Company, Fidelity Investments Money Management, Inc. (investment adviser firm), and FMR Co., Inc. (2001-2005), Senior Vice President of the Fidelity® funds (2001-2005), and managed a number of Fidelity® funds. Ms. Abigail P. Johnson and Mr. Arthur E. Johnson are not related.
Jennifer Toolin McAuliffe (1959)
Year of Election or Appointment: 2016
Trustee
Ms. McAuliffe also serves as Trustee of other Fidelity® funds and as Trustee of Fidelity Charitable (2020-present). Previously, Ms. McAuliffe served as Co-Head of Fixed Income of Fidelity Investments Limited (now known as FIL Limited (FIL)) (diversified financial services company), Director of Research for FIL’s credit and quantitative teams in London, Hong Kong and Tokyo and Director of Research for taxable and municipal bonds at Fidelity Investments Money Management, Inc. Ms. McAuliffe previously served as a member of the Advisory Board of certain Fidelity® funds (2016). Ms. McAuliffe was previously a lawyer at Ropes & Gray LLP and currently serves as director or trustee of several not-for-profit entities.
* Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.
+ The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for each fund.
Independent Trustees:
Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.
Name, Year of Birth; Principal Occupations and Other Relevant Experience+
Elizabeth S. Acton (1951)
Year of Election or Appointment: 2013
Trustee
Ms. Acton also serves as Trustee of other Fidelity® funds. Prior to her retirement, Ms. Acton served as Executive Vice President, Finance (2011-2012), Executive Vice President, Chief Financial Officer (2002-2011) and Treasurer (2004-2005) of Comerica Incorporated (financial services). Prior to joining Comerica, Ms. Acton held a variety of positions at Ford Motor Company (1983-2002), including Vice President and Treasurer (2000-2002) and Executive Vice President and Chief Financial Officer of Ford Motor Credit Company (1998-2000). Ms. Acton currently serves as a member of the Board and Audit and Finance Committees of Beazer Homes USA, Inc. (homebuilding, 2012-present). Ms. Acton previously served as a member of the Advisory Board of certain Fidelity® funds (2013-2016).
Ann E. Dunwoody (1953)
Year of Election or Appointment: 2018
Trustee
General Dunwoody also serves as Trustee of other Fidelity® funds. General Dunwoody (United States Army, Retired) was the first woman in U.S. military history to achieve the rank of four-star general and prior to her retirement in 2012 held a variety of positions within the U.S. Army, including Commanding General, U.S. Army Material Command (2008-2012). General Dunwoody currently serves as President of First to Four LLC (leadership and mentoring services, 2012-present), a member of the Board and Nomination and Corporate Governance Committees of Kforce Inc. (professional staffing services, 2016-present) and a member of the Board of Automattic Inc. (software engineering, 2018-present). Previously, General Dunwoody served as a member of the Advisory Board and Nominating and Corporate Governance Committee of L3 Technologies, Inc. (communication, electronic, sensor and aerospace systems, 2013-2019) and a member of the Board and Audit and Sustainability and Corporate Responsibility Committees of Republic Services, Inc. (waste collection, disposal and recycling, 2013-2016). Ms. Dunwoody also serves on several boards for non-profit organizations, including as a member of the Board, Chair of the Nomination and Governance Committee and a member of the Audit Committee of Logistics Management Institute (consulting non-profit, 2012-present), a member of the Council of Trustees for the Association of the United States Army (advocacy non-profit, 2013-present), a member of the Board of Florida Institute of Technology (2015-present) and a member of the Board of ThanksUSA (military family education non-profit, 2014-present). General Dunwoody previously served as a member of the Advisory Board of certain Fidelity® funds (2018).
John Engler (1948)
Year of Election or Appointment: 2014
Trustee
Mr. Engler also serves as Trustee of other Fidelity® funds. Previously, Mr. Engler served as Governor of Michigan (1991-2003), President of the Business Roundtable (2011-2017) and interim President of Michigan State University (2018-2019). Mr. Engler currently serves as a member of the Board of Stride, Inc. (formerly K12 Inc.) (technology-based education company, 2012-present). Previously, Mr. Engler served as a member of the Board of Universal Forest Products (manufacturer and distributor of wood and wood-alternative products, 2003-2019) and Trustee of The Munder Funds (2003-2014). Mr. Engler previously served as a member of the Advisory Board of certain Fidelity® funds (2014-2016).
Robert F. Gartland (1951)
Year of Election or Appointment: 2010
Trustee
Mr. Gartland also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Gartland held a variety of positions at Morgan Stanley (financial services, 1979-2007), including Managing Director (1987-2007) and Chase Manhattan Bank (1975-1978). Mr. Gartland previously served as Chairman and an investor in Gartland & Mellina Group Corp. (consulting, 2009-2019), as a member of the Board of National Securities Clearing Corporation (1993-1996) and as Chairman of TradeWeb (2003-2004).
Arthur E. Johnson (1947)
Year of Election or Appointment: 2008
Trustee
Chairman of the Independent Trustees
Mr. Johnson also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Johnson served as Senior Vice President of Corporate Strategic Development of Lockheed Martin Corporation (defense contractor, 1999-2009). Mr. Johnson currently serves as a member of the Board of Booz Allen Hamilton (management consulting, 2011-present). Mr. Johnson previously served as a member of the Board of Eaton Corporation plc (diversified power management, 2009-2019) and a member of the Board of AGL Resources, Inc. (holding company, 2002-2016). Mr. Johnson previously served as Vice Chairman (2015-2018) of the Independent Trustees of certain Fidelity® funds. Mr. Arthur E. Johnson is not related to Ms. Abigail P. Johnson.
Michael E. Kenneally (1954)
Year of Election or Appointment: 2009
Trustee
Vice Chairman of the Independent Trustees
Mr. Kenneally also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Kenneally served as Chairman and Global Chief Executive Officer of Credit Suisse Asset Management and as Executive Vice President and Chief Investment Officer for Bank of America Corporation, where he was responsible for the bank’s money-management products. Previously at Bank of America, Mr. Kenneally managed the principal investment research functions and also spent more than a decade as portfolio manager for various equity and fixed-income funds and institutional accounts. He began his career as a research analyst in 1983 and was awarded the Chartered Financial Analyst (CFA) designation in 1991.
Marie L. Knowles (1946)
Year of Election or Appointment: 2001
Trustee
Ms. Knowles also serves as Trustee of other Fidelity® funds. Prior to her retirement, Ms. Knowles held several positions at Atlantic Richfield Company (diversified energy), including Executive Vice President and Chief Financial Officer (1996-2000), Senior Vice President (1993-1996) and President of ARCO Transportation Company (pipeline and tanker operations, 1993-1996). Ms. Knowles currently serves as a member of the Board of McKesson Corporation (healthcare service, since 2002), a member of the Board of the Santa Catalina Island Company (real estate, 2009-present), a member of the Investment Company Institute Board of Governors and a member of the Governing Council of the Independent Directors Council (2014-present). Ms. Knowles also serves as a member of the Advisory Board for the School of Engineering of the University of Southern California. Ms. Knowles previously served as Chairman (2015-2018) and Vice Chairman (2012-2015) of the Independent Trustees of certain Fidelity® funds.
Mark A. Murray (1954)
Year of Election or Appointment: 2016
Trustee
Mr. Murray also serves as Trustee of other Fidelity® funds. Previously, Mr. Murray served as Co-Chief Executive Officer (2013-2016), President (2006-2013) and Vice Chairman (2013-2020) of Meijer, Inc. Mr. Murray serves as a member of the Board (2009-present) and Public Policy and Responsibility Committee (2009-present) and Chair of the Nuclear Review Committee (2019-present) of DTE Energy Company (diversified energy company). Mr. Murray previously served as a member of the Board of Spectrum Health (not-for-profit health system, 2015-2019) and as a member of the Board and Audit Committee and Chairman of the Nominating and Corporate Governance Committee of Universal Forest Products, Inc. (manufacturer and distributor of wood and wood-alternative products, 2004-2016). Mr. Murray also serves as a member of the Board of many community and professional organizations. Mr. Murray previously served as a member of the Advisory Board of certain Fidelity® funds (2016).
+ The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for each fund.
Advisory Board Members and Officers:
Correspondence intended for an officer may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210. Officers appear below in alphabetical order.
Name, Year of Birth; Principal Occupation
Craig S. Brown (1977)
Year of Election or Appointment: 2019
Assistant Treasurer
Mr. Brown also serves as Assistant Treasurer of other funds. Mr. Brown is an employee of Fidelity Investments (2013-present).
John J. Burke III (1964)
Year of Election or Appointment: 2018
Chief Financial Officer
Mr. Burke also serves as Chief Financial Officer of other funds. Mr. Burke serves as Head of Investment Operations for Fidelity Fund and Investment Operations (2018-present) and is an employee of Fidelity Investments (1998-present). Previously Mr. Burke served as head of Asset Management Investment Operations (2012-2018).
David J. Carter (1973)
Year of Election or Appointment: 2020
Assistant Secretary
Mr. Carter also serves as Assistant Secretary of other funds. Mr. Carter serves as Vice President, Associate General Counsel (2010-present) and is an employee of Fidelity Investments (2005-present).
Jonathan Davis (1968)
Year of Election or Appointment: 2010
Assistant Treasurer
Mr. Davis also serves as Assistant Treasurer of other funds. Mr. Davis serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments. Previously, Mr. Davis served as Vice President and Associate General Counsel of FMR LLC (diversified financial services company, 2003-2010).
Laura M. Del Prato (1964)
Year of Election or Appointment: 2018
President and Treasurer
Ms. Del Prato also serves as an officer of other funds. Ms. Del Prato is an employee of Fidelity Investments (2017-present). Previously, Ms. Del Prato served as President and Treasurer of The North Carolina Capital Management Trust: Cash Portfolio and Term Portfolio (2018-2020). Prior to joining Fidelity Investments, Ms. Del Prato served as a Managing Director and Treasurer of the JPMorgan Mutual Funds (2014-2017). Prior to JPMorgan, Ms. Del Prato served as a partner at Cohen Fund Audit Services (accounting firm, 2012-2013) and KPMG LLP (accounting firm, 2004-2012).
Colm A. Hogan (1973)
Year of Election or Appointment: 2016
Assistant Treasurer
Mr. Hogan also serves as an officer of other funds. Mr. Hogan serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2005-present). Previously, Mr. Hogan served as Deputy Treasurer of certain Fidelity® funds (2016-2020) and Assistant Treasurer of certain Fidelity® funds (2016-2018).
Cynthia Lo Bessette (1969)
Year of Election or Appointment: 2019
Secretary and Chief Legal Officer (CLO)
Ms. Lo Bessette also serves as an officer of other funds. Ms. Lo Bessette serves as CLO, Secretary, and Senior Vice President of Fidelity Management & Research Company LLC (investment adviser firm, 2019-present); and CLO of Fidelity Management & Research (Hong Kong) Limited, FMR Investment Management (UK) Limited, and Fidelity Management & Research (Japan) Limited (investment adviser firms, 2019-present). She is a Senior Vice President and Deputy General Counsel of FMR LLC (diversified financial services company, 2019-present), and is an employee of Fidelity Investments. Previously, Ms. Lo Bessette served as CLO, Secretary, and Senior Vice President of FMR Co., Inc. (investment adviser firm, 2019); Secretary of Fidelity SelectCo, LLC and Fidelity Investments Money Management, Inc. (investment adviser firms, 2019). Prior to joining Fidelity Investments, Ms. Lo Bessette was Executive Vice President, General Counsel (2016-2019) and Senior Vice President, Deputy General Counsel (2015-2016) of OppenheimerFunds (investment management company) and Deputy Chief Legal Officer (2013-2015) of Jennison Associates LLC (investment adviser firm).
Chris Maher (1972)
Year of Election or Appointment: 2013
Assistant Treasurer
Mr. Maher also serves as an officer of other funds. Mr. Maher serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), and is an employee of Fidelity Investments (2008-present). Previously, Mr. Maher served as Assistant Treasurer of certain funds (2013-2020); Vice President of Asset Management Compliance (2013), Vice President of the Program Management Group of FMR (investment adviser firm, 2010-2013), and Vice President of Valuation Oversight (2008-2010).
Kenneth B. Robins (1969)
Year of Election or Appointment: 2020
Chief Compliance Officer
Mr. Robins also serves as an officer of other funds. Mr. Robins serves as Compliance Officer of Fidelity Management & Research Company LLC (investment adviser firm, 2016-present) and is an employee of Fidelity Investments (2004-present). Previously, Mr. Robins served as Compliance Officer of FMR Co., Inc. (investment adviser firm, 2016-2019), as Executive Vice President of Fidelity Investments Money Management, Inc. (investment adviser firm, 2013-2016) and served in other fund officer roles.
Brett Segaloff (1972)
Year of Election or Appointment: 2021
Anti-Money Laundering (AML) Officer
Mr. Segaloff also serves as an AML Officer of other funds and other related entities. He is Director, Anti-Money Laundering (2007-present) of FMR LLC (diversified financial services company) and is an employee of Fidelity Investments (1996-present).
Stacie M. Smith (1974)
Year of Election or Appointment: 2013
Assistant Treasurer
Ms. Smith also serves as an officer of other funds. Ms. Smith serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), is an employee of Fidelity Investments (2009-present), and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Smith served as Senior Audit Manager of Ernst & Young LLP (accounting firm, 1996-2009). Previously, Ms. Smith served as Assistant Treasurer (2013-2019) and Deputy Treasurer (2013-2016) of certain Fidelity® funds.
Marc L. Spector (1972)
Year of Election or Appointment: 2016
Deputy Treasurer
Mr. Spector also serves as an officer of other funds. Mr. Spector serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2016-present). Prior to joining Fidelity Investments, Mr. Spector served as Director at the Siegfried Group (accounting firm, 2013-2016), and prior to Siegfried Group as audit senior manager at Deloitte & Touche LLP (accounting firm, 2005-2013).
Jim Wegmann (1979)
Year of Election or Appointment: 2019
Assistant Treasurer
Mr. Wegmann also serves as Assistant Treasurer of other funds. Mr. Wegmann is an employee of Fidelity Investments (2011-present).
Vadim Zlotnikov (1962)
Year of Election or Appointment: 2019
Vice President
Mr. Zlotnikov also serves as Vice President of other funds. Mr. Zlotnikov serves as President of FIAM (Fidelity Institutional Asset Management) and is an employee of Fidelity Investments (2018-present). Previously, Mr. Zlotnikov served as President and Chief Investment Officer of Global Asset Allocation (2018-2020). Prior to joining Fidelity Investments, Mr. Zlotnikov served as Co-Head of Multi-Asset Solutions, Chief Market Strategist, and CIO of Systematic Strategies with AllianceBernstein (investment adviser firm, 2002-2018).
Shareholder Expense Example
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (October 1, 2020 to March 31, 2021).
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds.
| | Annualized Expense Ratio-A | Beginning
Account Value
October 1, 2020 | Ending
Account Value
March 31, 2021 | Expenses Paid
During Period-B
October 1, 2020
to March 31, 2021 |
| Fidelity Freedom Index Income Fund | | | | |
| Investor Class | .12% | | | |
| Actual | | $1,000.00 | $1,021.40 | $.60 |
| Hypothetical-C | | $1,000.00 | $1,024.33 | $.61 |
| Institutional Premium Class | .08% | | | |
| Actual | | $1,000.00 | $1,021.60 | $.40 |
| Hypothetical-C | | $1,000.00 | $1,024.53 | $.40 |
| Premier Class | .06% | | | |
| Actual | | $1,000.00 | $1,021.70 | $.30 |
| Hypothetical-C | | $1,000.00 | $1,024.63 | $.30 |
| Fidelity Freedom Index 2005 Fund | | | | |
| Investor Class | .12% | | | |
| Actual | | $1,000.00 | $1,031.20 | $.61 |
| Hypothetical-C | | $1,000.00 | $1,024.33 | $.61 |
| Institutional Premium Class | .08% | | | |
| Actual | | $1,000.00 | $1,032.20 | $.41 |
| Hypothetical-C | | $1,000.00 | $1,024.53 | $.40 |
| Premier Class | .06% | | | |
| Actual | | $1,000.00 | $1,031.90 | $.30 |
| Hypothetical-C | | $1,000.00 | $1,024.63 | $.30 |
| Fidelity Freedom Index 2010 Fund | | | | |
| Investor Class | .12% | | | |
| Actual | | $1,000.00 | $1,051.40 | $.61 |
| Hypothetical-C | | $1,000.00 | $1,024.33 | $.61 |
| Institutional Premium Class | .08% | | | |
| Actual | | $1,000.00 | $1,051.70 | $.41 |
| Hypothetical-C | | $1,000.00 | $1,024.53 | $.40 |
| Premier Class | .06% | | | |
| Actual | | $1,000.00 | $1,052.20 | $.31 |
| Hypothetical-C | | $1,000.00 | $1,024.63 | $.30 |
| Fidelity Freedom Index 2015 Fund | | | | |
| Investor Class | .12% | | | |
| Actual | | $1,000.00 | $1,071.50 | $.62 |
| Hypothetical-C | | $1,000.00 | $1,024.33 | $.61 |
| Institutional Premium Class | .08% | | | |
| Actual | | $1,000.00 | $1,071.70 | $.41 |
| Hypothetical-C | | $1,000.00 | $1,024.53 | $.40 |
| Premier Class | .06% | | | |
| Actual | | $1,000.00 | $1,072.30 | $.31 |
| Hypothetical-C | | $1,000.00 | $1,024.63 | $.30 |
| Fidelity Freedom Index 2020 Fund | | | | |
| Investor Class | .12% | | | |
| Actual | | $1,000.00 | $1,091.10 | $.63 |
| Hypothetical-C | | $1,000.00 | $1,024.33 | $.61 |
| Institutional Premium Class | .08% | | | |
| Actual | | $1,000.00 | $1,091.30 | $.42 |
| Hypothetical-C | | $1,000.00 | $1,024.53 | $.40 |
| Premier Class | .06% | | | |
| Actual | | $1,000.00 | $1,091.80 | $.31 |
| Hypothetical-C | | $1,000.00 | $1,024.63 | $.30 |
| Fidelity Freedom Index 2025 Fund | | | | |
| Investor Class | .12% | | | |
| Actual | | $1,000.00 | $1,105.70 | $.63 |
| Hypothetical-C | | $1,000.00 | $1,024.33 | $.61 |
| Institutional Premium Class | .08% | | | |
| Actual | | $1,000.00 | $1,105.90 | $.42 |
| Hypothetical-C | | $1,000.00 | $1,024.53 | $.40 |
| Premier Class | .06% | | | |
| Actual | | $1,000.00 | $1,105.70 | $.31 |
| Hypothetical-C | | $1,000.00 | $1,024.63 | $.30 |
| Fidelity Freedom Index 2030 Fund | | | | |
| Investor Class | .12% | | | |
| Actual | | $1,000.00 | $1,124.40 | $.64 |
| Hypothetical-C | | $1,000.00 | $1,024.33 | $.61 |
| Institutional Premium Class | .08% | | | |
| Actual | | $1,000.00 | $1,124.00 | $.42 |
| Hypothetical-C | | $1,000.00 | $1,024.53 | $.40 |
| Premier Class | .06% | | | |
| Actual | | $1,000.00 | $1,124.40 | $.32 |
| Hypothetical-C | | $1,000.00 | $1,024.63 | $.30 |
| Fidelity Freedom Index 2035 Fund | | | | |
| Investor Class | .12% | | | |
| Actual | | $1,000.00 | $1,160.30 | $.65 |
| Hypothetical-C | | $1,000.00 | $1,024.33 | $.61 |
| Institutional Premium Class | .08% | | | |
| Actual | | $1,000.00 | $1,160.50 | $.43 |
| Hypothetical-C | | $1,000.00 | $1,024.53 | $.40 |
| Premier Class | .06% | | | |
| Actual | | $1,000.00 | $1,160.90 | $.32 |
| Hypothetical-C | | $1,000.00 | $1,024.63 | $.30 |
| Fidelity Freedom Index 2040 Fund | | | | |
| Investor Class | .12% | | | |
| Actual | | $1,000.00 | $1,184.00 | $.65 |
| Hypothetical-C | | $1,000.00 | $1,024.33 | $.61 |
| Institutional Premium Class | .08% | | | |
| Actual | | $1,000.00 | $1,184.90 | $.44 |
| Hypothetical-C | | $1,000.00 | $1,024.53 | $.40 |
| Premier Class | .06% | | | |
| Actual | | $1,000.00 | $1,184.80 | $.33 |
| Hypothetical-C | | $1,000.00 | $1,024.63 | $.30 |
| Fidelity Freedom Index 2045 Fund | | | | |
| Investor Class | .12% | | | |
| Actual | | $1,000.00 | $1,184.10 | $.65 |
| Hypothetical-C | | $1,000.00 | $1,024.33 | $.61 |
| Institutional Premium Class | .08% | | | |
| Actual | | $1,000.00 | $1,184.80 | $.44 |
| Hypothetical-C | | $1,000.00 | $1,024.53 | $.40 |
| Premier Class | .06% | | | |
| Actual | | $1,000.00 | $1,184.70 | $.33 |
| Hypothetical-C | | $1,000.00 | $1,024.63 | $.30 |
| Fidelity Freedom Index 2050 Fund | | | | |
| Investor Class | .12% | | | |
| Actual | | $1,000.00 | $1,184.30 | $.65 |
| Hypothetical-C | | $1,000.00 | $1,024.33 | $.61 |
| Institutional Premium Class | .08% | | | |
| Actual | | $1,000.00 | $1,184.50 | $.44 |
| Hypothetical-C | | $1,000.00 | $1,024.53 | $.40 |
| Premier Class | .06% | | | |
| Actual | | $1,000.00 | $1,185.00 | $.33 |
| Hypothetical-C | | $1,000.00 | $1,024.63 | $.30 |
| Fidelity Freedom Index 2055 Fund | | | | |
| Investor Class | .12% | | | |
| Actual | | $1,000.00 | $1,184.70 | $.65 |
| Hypothetical-C | | $1,000.00 | $1,024.33 | $.61 |
| Institutional Premium Class | .08% | | | |
| Actual | | $1,000.00 | $1,184.70 | $.44 |
| Hypothetical-C | | $1,000.00 | $1,024.53 | $.40 |
| Premier Class | .06% | | | |
| Actual | | $1,000.00 | $1,184.50 | $.33 |
| Hypothetical-C | | $1,000.00 | $1,024.63 | $.30 |
| Fidelity Freedom Index 2060 Fund | | | | |
| Investor Class | .12% | | | |
| Actual | | $1,000.00 | $1,184.60 | $.65 |
| Hypothetical-C | | $1,000.00 | $1,024.33 | $.61 |
| Institutional Premium Class | .08% | | | |
| Actual | | $1,000.00 | $1,183.90 | $.44 |
| Hypothetical-C | | $1,000.00 | $1,024.53 | $.40 |
| Premier Class | .06% | | | |
| Actual | | $1,000.00 | $1,185.00 | $.33 |
| Hypothetical-C | | $1,000.00 | $1,024.63 | $.30 |
| Fidelity Freedom Index 2065 Fund | | | | |
| Investor Class | .12% | | | |
| Actual | | $1,000.00 | $1,184.70 | $.65 |
| Hypothetical-C | | $1,000.00 | $1,024.33 | $.61 |
| Institutional Premium Class | .08% | | | |
| Actual | | $1,000.00 | $1,183.80 | $.44 |
| Hypothetical-C | | $1,000.00 | $1,024.53 | $.40 |
| Premier Class | .06% | | | |
| Actual | | $1,000.00 | $1,184.00 | $.33 |
| Hypothetical-C | | $1,000.00 | $1,024.63 | $.30 |
A Annualized expense ratio reflects expenses net of applicable fee waivers.
B Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 365 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
C 5% return per year before expenses
Distributions (Unaudited)
The Board of Trustees of each fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities and dividends derived from net investment income:
| | Pay Date | Record Date | Dividends | Capital Gains |
| Fidelity Freedom Index Income Fund | | | | |
| Investor Class | 05/10/21 | 05/07/21 | $0.012 | $0.051 |
| Institutional Premium Class | 05/10/21 | 05/07/21 | $0.010 | $0.051 |
| Premier Class | 05/10/21 | 05/07/21 | $0.012 | $0.051 |
| Fidelity Freedom Index 2005 Fund | | | | |
| Investor Class | 05/17/21 | 05/14/21 | $0.025 | $0.097 |
| Institutional Premium Class | 05/17/21 | 05/14/21 | $0.020 | $0.097 |
| Premier Class | 05/17/21 | 05/14/21 | $0.026 | $0.097 |
| Fidelity Freedom Index 2010 Fund | | | | |
| Investor Class | 05/17/21 | 05/14/21 | $0.024 | $0.147 |
| Institutional Premium Class | 05/17/21 | 05/14/21 | $0.019 | $0.147 |
| Premier Class | 05/17/21 | 05/14/21 | $0.025 | $0.147 |
| Fidelity Freedom Index 2015 Fund | | | | |
| Investor Class | 05/17/21 | 05/14/21 | $0.023 | $0.110 |
| Institutional Premium Class | 05/17/21 | 05/14/21 | $0.018 | $0.110 |
| Premier Class | 05/17/21 | 05/14/21 | $0.023 | $0.110 |
| Fidelity Freedom Index 2020 Fund | | | | |
| Investor Class | 05/17/21 | 05/14/21 | $0.022 | $0.105 |
| Institutional Premium Class | 05/17/21 | 05/14/21 | $0.016 | $0.105 |
| Premier Class | 05/17/21 | 05/14/21 | $0.022 | $0.105 |
| Fidelity Freedom Index 2025 Fund | | | | |
| Investor Class | 05/17/21 | 05/14/21 | $0.022 | $0.076 |
| Institutional Premium Class | 05/17/21 | 05/14/21 | $0.015 | $0.076 |
| Premier Class | 05/17/21 | 05/14/21 | $0.022 | $0.076 |
| Fidelity Freedom Index 2030 Fund | | | | |
| Investor Class | 05/17/21 | 05/14/21 | $0.020 | $0.080 |
| Institutional Premium Class | 05/17/21 | 05/14/21 | $0.013 | $0.080 |
| Premier Class | 05/17/21 | 05/14/21 | $0.021 | $0.080 |
| Fidelity Freedom Index 2035 Fund | | | | |
| Investor Class | 05/17/21 | 05/14/21 | $0.014 | $0.067 |
| Institutional Premium Class | 05/17/21 | 05/14/21 | $0.005 | $0.067 |
| Premier Class | 05/17/21 | 05/14/21 | $0.014 | $0.067 |
| Fidelity Freedom Index 2040 Fund | | | | |
| Investor Class | 05/17/21 | 05/14/21 | $0.005 | $0.068 |
| Institutional Premium Class | 05/17/21 | 05/14/21 | $0.000 | $0.063 |
| Premier Class | 05/17/21 | 05/14/21 | $0.005 | $0.068 |
| Fidelity Freedom Index 2045 Fund | | | | |
| Investor Class | 05/17/21 | 05/14/21 | $0.005 | $0.063 |
| Institutional Premium Class | 05/17/21 | 05/14/21 | $0.000 | $0.060 |
| Premier Class | 05/17/21 | 05/14/21 | $0.005 | $0.063 |
| Fidelity Freedom Index 2050 Fund | | | | |
| Investor Class | 05/17/21 | 05/14/21 | $0.005 | $0.069 |
| Institutional Premium Class | 05/17/21 | 05/14/21 | $0.000 | $0.063 |
| Premier Class | 05/17/21 | 05/14/21 | $0.006 | $0.069 |
| Fidelity Freedom Index 2055 Fund | | | | |
| Investor Class | 05/17/21 | 05/14/21 | $0.004 | $0.048 |
| Institutional Premium Class | 05/17/21 | 05/14/21 | $0.000 | $0.047 |
| Premier Class | 05/17/21 | 05/14/21 | $0.004 | $0.048 |
| Fidelity Freedom Index 2060 Fund | | | | |
| Investor Class | 05/17/21 | 05/14/21 | $0.003 | $0.040 |
| Institutional Premium Class | 05/17/21 | 05/14/21 | $0.000 | $0.038 |
| Premier Class | 05/17/21 | 05/14/21 | $0.003 | $0.040 |
| Fidelity Freedom Index 2065 Fund | | | | |
| Investor Class | 05/17/21 | 05/14/21 | $0.001 | $0.023 |
| Institutional Premium Class | 05/17/21 | 05/14/21 | $0.000 | $0.022 |
| Premier Class | 05/17/21 | 05/14/21 | $0.001 | $0.023 |
|
The funds hereby designate as capital gain dividend the amounts noted below for the taxable year ended March 31, 2021, or, if subsequently determined to be different, the net capital gain of such year.
| Fidelity Freedom Index Income Fund | $ 4,641,752 |
| Fidelity Freedom Index 2005 Fund | $ 2,097,225 |
| Fidelity Freedom Index 2010 Fund | $ 10,754,285 |
| Fidelity Freedom Index 2015 Fund | $ 21,105,737 |
| Fidelity Freedom Index 2020 Fund | $ 62,662,924 |
| Fidelity Freedom Index 2025 Fund | $ 58,628,240 |
| Fidelity Freedom Index 2030 Fund | $ 71,443,868 |
| Fidelity Freedom Index 2035 Fund | $ 45,416,674 |
| Fidelity Freedom Index 2040 Fund | $ 34,106,259 |
| Fidelity Freedom Index 2045 Fund | $ 25,176,912 |
| Fidelity Freedom Index 2050 Fund | $ 22,964,946 |
| Fidelity Freedom Index 2055 Fund | $ 11,795,072 |
| Fidelity Freedom Index 2060 Fund | $ 4,492,163 |
| Fidelity Freedom Index 2065 Fund | $ 365,898 |
| | |
A percentage of the dividends distributed during the fiscal year for the following funds were derived from interest on U.S. Government securities which is generally exempt from state income tax:
| Fidelity Freedom Index Income Fund | 40.89% |
| Fidelity Freedom Index 2005 Fund | 38.68% |
| Fidelity Freedom Index 2010 Fund | 35.24% |
| Fidelity Freedom Index 2015 Fund | 32.01% |
| Fidelity Freedom Index 2020 Fund | 28.99% |
| Fidelity Freedom Index 2025 Fund | 26.77% |
| Fidelity Freedom Index 2030 Fund | 24.16% |
| Fidelity Freedom Index 2035 Fund | 19.19% |
| Fidelity Freedom Index 2040 Fund | 16.89% |
| Fidelity Freedom Index 2045 Fund | 16.86% |
| Fidelity Freedom Index 2050 Fund | 16.85% |
| Fidelity Freedom Index 2055 Fund | 16.78% |
| Fidelity Freedom Index 2060 Fund | 16.76% |
| Fidelity Freedom Index 2065 Fund | 16.60% |
| | |
A percentage of the dividends distributed during the fiscal year for the following funds qualify for the dividends–received deduction for corporate shareholders:
| | Investor Class | Institutional Premium Class | Premier Class |
| Fidelity Freedom Index Income Fund | | | |
| April 2020 | 0% | 0% | N/A |
| May 1st, 2020 | 4% | 4% | N/A |
| May 8st, 2020 | 10% | 10% | N/A |
| June 2020 | 10% | 10% | N/A |
| July 2020 | 11% | 9% | N/A |
| August 2020 | 10% | 10% | 5% |
| September 2020 | 10% | 10% | 10% |
| October 2020 | 10% | 10% | 10% |
| November 2020 | 11% | 9% | 9% |
| December 2020 | 10% | 10% | 10% |
| February 2021 | 0% | 0% | 0% |
| March 2021 | 0% | 0% | 0% |
| Fidelity Freedom Index 2005 Fund | | | |
| May 2020 | 0% | 0% | N/A |
| December 2020 | 12% | 12% | 11% |
| Fidelity Freedom Index 2010 Fund | | | |
| May 2020 | 0% | 0% | N/A |
| December 2020 | 16% | 16% | 15% |
| Fidelity Freedom Index 2015 Fund | | | |
| May 2020 | 0% | 0% | N/A |
| December 2020 | 20% | 20% | 19% |
| Fidelity Freedom Index 2020 Fund | | | |
| May 2020 | 0% | 0% | N/A |
| December 2020 | 23% | 23% | 22% |
| Fidelity Freedom Index 2025 Fund | | | |
| May 2020 | 0% | 0% | N/A |
| December 2020 | 25% | 25% | 24% |
| Fidelity Freedom Index 2030 Fund | | | |
| May 2020 | 0% | 0% | N/A |
| December 2020 | 28% | 27% | 27% |
| Fidelity Freedom Index 2035 Fund | | | |
| May 2020 | 0% | 0% | N/A |
| December 2020 | 34% | 34% | 33% |
| Fidelity Freedom Index 2040 Fund | | | |
| May 2020 | 0% | 0% | N/A |
| December 2020 | 37% | 37% | 36% |
| Fidelity Freedom Index 2045 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 38% | 37% | 36% |
| Fidelity Freedom Index 2050 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 38% | 37% | 36% |
| Fidelity Freedom Index 2055 Fund | | | |
| May 2020 | 3% | 2% | N/A |
| December 2020 | 37% | 37% | 36% |
| Fidelity Freedom Index 2060 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 37% | 37% | 36% |
| Fidelity Freedom Index 2065 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 37% | 36% | 36% |
|
A percentage of the dividends distributed during the fiscal year for the following funds may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code:
| | Investor Class | Institutional Premium Class | Premier Class |
| Fidelity Freedom Index Income Fund | | | |
| April 2020 | 0% | 0% | N/A |
| May 1st, 2020 | 8% | 8% | N/A |
| May 8st, 2020 | 18% | 18% | N/A |
| June 2020 | 18% | 18% | N/A |
| July 2020 | 19% | 16% | N/A |
| August 2020 | 18% | 18% | 9% |
| September 2020 | 18% | 18% | 18% |
| October 2020 | 18% | 18% | 18% |
| November 2020 | 19% | 16% | 16% |
| December 2020 | 18% | 17% | 17% |
| February 2021 | 0% | 0% | 0% |
| March 2021 | 0% | 0% | 0% |
| Fidelity Freedom Index 2005 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 21% | 20% | 20% |
| Fidelity Freedom Index 2010 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 28% | 27% | 27% |
| Fidelity Freedom Index 2015 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 34% | 34% | 33% |
| Fidelity Freedom Index 2020 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 41% | 40% | 39% |
| Fidelity Freedom Index 2025 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 45% | 44% | 43% |
| Fidelity Freedom Index 2030 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 49% | 49% | 47% |
| Fidelity Freedom Index 2035 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 60% | 60% | 58% |
| Fidelity Freedom Index 2040 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 67% | 68% | 65% |
| Fidelity Freedom Index 2045 Fund | | | |
| May 2020 | 3% | 3% | N/A |
| December 2020 | 67% | 67% | 65% |
| Fidelity Freedom Index 2050 Fund | | | |
| May 2020 | 3% | 3% | N/A |
| December 2020 | 67% | 66% | 65% |
| Fidelity Freedom Index 2055 Fund | | | |
| May 2020 | 5% | 5% | N/A |
| December 2020 | 67% | 66% | 65% |
| Fidelity Freedom Index 2060 Fund | | | |
| May 2020 | 3% | 3% | N/A |
| December 2020 | 66% | 65% | 64% |
| Fidelity Freedom Index 2065 Fund | | | |
| May 2020 | 3% | 3% | N/A |
| December 2020 | 67% | 68% | 66% |
|
A percentage of the dividends distributed during the fiscal year for the following funds qualify as a section 199A dividend:
| | Investor Class | Institutional Premium Class | Premier Class |
| Fidelity Freedom Index Income Fund | | | |
| April 2020 | 0% | 0% | N/A |
| May 1st, 2020 | 1% | 1% | N/A |
| May 8st, 2020 | 1% | 1% | N/A |
| June 2020 | 1% | 1% | N/A |
| July 2020 | 1% | 1% | N/A |
| August 2020 | 1% | 1% | 1% |
| September 2020 | 1% | 1% | 1% |
| October 2020 | 1% | 1% | 1% |
| November 2020 | 1% | 1% | 1% |
| December 2020 | 1% | 1% | 1% |
| February 2020 | 2% | 2% | 0% |
| March 2020 | 2% | 2% | 0% |
| Fidelity Freedom Index 2005 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 2% | 2% | 2% |
| Fidelity Freedom Index 2010 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 2% | 2% | 2% |
| Fidelity Freedom Index 2015 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 2% | 2% | 2% |
| Fidelity Freedom Index 2020 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 3% | 3% | 3% |
| Fidelity Freedom Index 2025 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 3% | 3% | 3% |
| Fidelity Freedom Index 2030 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 3% | 3% | 3% |
| Fidelity Freedom Index 2035 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 4% | 4% | 4% |
| Fidelity Freedom Index 2040 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 4% | 4% | 4% |
| Fidelity Freedom Index 2045 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 4% | 4% | 4% |
| Fidelity Freedom Index 2050 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 4% | 4% | 4% |
| Fidelity Freedom Index 2055 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 4% | 4% | 4% |
| Fidelity Freedom Index 2060 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 4% | 4% | 4% |
| Fidelity Freedom Index 2065 Fund | | | |
| May 2020 | 1% | 1% | N/A |
| December 2020 | 4% | 4% | 4% |
|
The funds will notify shareholders in January 2022 of amounts for use in preparing 2021 income tax returns.
Liquidity Risk Management Program
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Funds have adopted and implemented a liquidity risk management program pursuant to the Liquidity Rule (the Program) effective December 1, 2018. The Program is reasonably designed to assess and manage each Fund’s liquidity risk and to comply with the requirements of the Liquidity Rule. Each Fund’s Board of Trustees (the Board) has designated each Fund’s investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund’s liquidity risk based on a variety of factors including (1) the Fund’s investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) in the case of exchange-traded funds, certain additional factors including the effect of the Fund’s prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund’s portfolio, as applicable.
In accordance with the Program, each of the Fund’s portfolio investments is classified into one of four liquidity categories described below based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
- Highly liquid investments – cash or convertible to cash within three business days or less
- Moderately liquid investments – convertible to cash in three to seven calendar days
- Less liquid investments – can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments – cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund’s illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund’s net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM). The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund’s Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of implementation of the Program for the annual period from December 1, 2019 through November 30, 2020. The report concluded that the Program has been implemented and is operating effectively and is reasonably designed to assess and manage the Fund’s liquidity risk.
FRX-ANN-0521
1.899264.111
Fidelity Flex® Freedom Blend Funds - Income, 2005, 2010, 2015, 2020, 2025, 2030, 2035, 2040, 2045, 2050, 2055, 2060, 2065
Annual Report
March 31, 2021
Contents
To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
You may also call 1-800-544-3455 (for managed account clients) or 1-800-835-5092 (for retirement plan participants) to request a free copy of the proxy voting guidelines.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2021 FMR LLC. All rights reserved.
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Funds nor Fidelity Distributors Corporation is a bank.
Note to Shareholders:
Early in 2020, the outbreak and spread of a new coronavirus emerged as a public health emergency that had a major influence on financial markets, primarily based on its impact on the global economy and the outlook for corporate earnings. The virus causes a respiratory disease known as COVID-19. On March 11, 2020 the World Health Organization declared the COVID-19 outbreak a pandemic, citing sustained risk of further global spread.
In the weeks following, as the crisis worsened, we witnessed an escalating human tragedy with wide-scale social and economic consequences from coronavirus-containment measures. The outbreak of COVID-19 prompted a number of measures to limit the spread, including travel and border restrictions, quarantines, and restrictions on large gatherings. In turn, these resulted in lower consumer activity, diminished demand for a wide range of products and services, disruption in manufacturing and supply chains, and – given the wide variability in outcomes regarding the outbreak – significant market uncertainty and volatility. Amid the turmoil, global governments and central banks took unprecedented action to help support consumers, businesses, and the broader economies, and to limit disruption to financial systems.
The situation continues to unfold, and the extent and duration of its impact on financial markets and the economy remain highly uncertain. Extreme events such as the coronavirus crisis are “exogenous shocks” that can have significant adverse effects on mutual funds and their investments. Although multiple asset classes may be affected by market disruption, the duration and impact may not be the same for all types of assets.
Fidelity is committed to helping you stay informed amid news about COVID-19 and during increased market volatility, and we’re taking extra steps to be responsive to customer needs. We encourage you to visit our websites, where we offer ongoing updates, commentary, and analysis on the markets and our funds.
Fidelity Flex® Freedom Blend Income Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of Portfolio |
| Fidelity Flex® Freedom Blend Income Fund | 12.84% | 5.63% |
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Freedom Blend Income Fund on June 8, 2017, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $12,323 | Fidelity Flex® Freedom Blend Income Fund |
| $11,416 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Flex® Freedom Blend 2005 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of Portfolio |
| Fidelity Flex® Freedom Blend 2005 Fund | 15.70% | 6.34% |
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Freedom Blend 2005 Fund on June 8, 2017, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $12,642 | Fidelity Flex® Freedom Blend 2005 Fund |
| $11,416 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Flex® Freedom Blend 2010 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of Portfolio |
| Fidelity Flex® Freedom Blend 2010 Fund | 20.94% | 7.36% |
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Freedom Blend 2010 Fund on June 8, 2017, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $13,110 | Fidelity Flex® Freedom Blend 2010 Fund |
| $11,416 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Flex® Freedom Blend 2015 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of Portfolio |
| Fidelity Flex® Freedom Blend 2015 Fund | 26.24% | 8.36% |
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Freedom Blend 2015 Fund on June 8, 2017, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $13,580 | Fidelity Flex® Freedom Blend 2015 Fund |
| $11,416 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Flex® Freedom Blend 2020 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of Portfolio |
| Fidelity Flex® Freedom Blend 2020 Fund | 31.33% | 9.24% |
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Freedom Blend 2020 Fund on June 8, 2017, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $14,008 | Fidelity Flex® Freedom Blend 2020 Fund |
| $17,552 | S&P 500® Index |
Fidelity Flex® Freedom Blend 2025 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of Portfolio |
| Fidelity Flex® Freedom Blend 2025 Fund | 35.43% | 9.93% |
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Freedom Blend 2025 Fund on June 8, 2017, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $14,349 | Fidelity Flex® Freedom Blend 2025 Fund |
| $17,552 | S&P 500® Index |
Fidelity Flex® Freedom Blend 2030 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of Portfolio |
| Fidelity Flex® Freedom Blend 2030 Fund | 40.91% | 10.93% |
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Freedom Blend 2030 Fund on June 8, 2017, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $14,853 | Fidelity Flex® Freedom Blend 2030 Fund |
| $17,552 | S&P 500® Index |
Fidelity Flex® Freedom Blend 2035 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of Portfolio |
| Fidelity Flex® Freedom Blend 2035 Fund | 50.67% | 12.20% |
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Freedom Blend 2035 Fund on June 8, 2017, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $15,509 | Fidelity Flex® Freedom Blend 2035 Fund |
| $17,552 | S&P 500® Index |
Fidelity Flex® Freedom Blend 2040 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of Portfolio |
| Fidelity Flex® Freedom Blend 2040 Fund | 56.53% | 12.80% |
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Freedom Blend 2040 Fund on June 8, 2017, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $15,831 | Fidelity Flex® Freedom Blend 2040 Fund |
| $17,552 | S&P 500® Index |
Fidelity Flex® Freedom Blend 2045 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of Portfolio |
| Fidelity Flex® Freedom Blend 2045 Fund | 56.58% | 12.81% |
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Freedom Blend 2045 Fund on June 8, 2017, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $15,838 | Fidelity Flex® Freedom Blend 2045 Fund |
| $17,552 | S&P 500® Index |
Fidelity Flex® Freedom Blend 2050 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of Portfolio |
| Fidelity Flex® Freedom Blend 2050 Fund | 56.50% | 12.80% |
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Freedom Blend 2050 Fund on June 8, 2017, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $15,828 | Fidelity Flex® Freedom Blend 2050 Fund |
| $17,552 | S&P 500® Index |
Fidelity Flex® Freedom Blend 2055 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of Portfolio |
| Fidelity Flex® Freedom Blend 2055 Fund | 56.63% | 12.83% |
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Freedom Blend 2055 Fund on June 8, 2017, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $15,846 | Fidelity Flex® Freedom Blend 2055 Fund |
| $17,552 | S&P 500® Index |
Fidelity Flex® Freedom Blend 2060 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of Portfolio |
| Fidelity Flex® Freedom Blend 2060 Fund | 56.58% | 12.81% |
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Freedom Blend 2060 Fund on June 8, 2017, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $15,838 | Fidelity Flex® Freedom Blend 2060 Fund |
| $17,552 | S&P 500® Index |
Fidelity Flex® Freedom Blend 2065 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| Periods ended March 31, 2021 | Past 1 year | Life of Portfolio |
| Fidelity Flex® Freedom Blend 2065 Fund | 56.66% | 19.27% |
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Flex® Freedom Blend 2065 Fund on June 28, 2019, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $13,613 | Fidelity Flex® Freedom Blend 2065 Fund |
| $13,944 | S&P 500® Index |
Management's Discussion of Fund Performance
Market Recap: For the 12 months ending March 31, 2021, global financial markets were influenced by a number of factors, including elevated volatility resulting from the early-2020 outbreak and spread of COVID-19. The pandemic coincided with equities suffering one of the quickest declines on record, followed by a historic rebound through March 31, driven by global economies reopening, ongoing fiscal and monetary stimulus, and the widespread distribution of COVID-19 vaccines. Many economists raised their expectations for a powerful recovery, as opposed to the sluggish rebound they had been anticipating. In the first quarter of 2021, riskier asset prices and bond yields rose amid the progressing global recovery.
Within this environment, the MSCI ACWI (All Country World Index) ex USA Index gained 49.62% for the 12 months. Canada (+61%) and emerging markets (+59%) fared best among regions. Asia Pacific ex Japan (+52%) also topped the broader market. Conversely, the U.K. (+34%) and Japan (+40%) notably lagged and Europe ex U.K. gained about 50%. By sector, information technology (+83%) led the way, boosted by the semiconductors & semiconductor equipment group (+128%). Materials (+77%), consumer discretionary (+66%) and industrials (+58%) also outperformed. In contrast, notable laggards included four defensive sectors: consumer staples and health care (+23% each) and utilities and real estate (+29% each).
The Dow Jones U.S. Total Stock Market Index gained 62.68% the past 12 months. Among sectors, economically sensitive groups fared best, led by consumer discretionary (+98%), energy and materials (+83% each), industrials (+74%), and information technology (+70%). In contrast, utilities (+19%) fared worst by a wide margin, followed by consumer staples (+31%). Small-cap stocks, as measured by the Russell 2000
® Index (+94.85%), handily topped the large-cap-oriented S&P 500
® index (+56.35%) the past 12 months. From a style standpoint, value stocks outpaced growth in the smaller-cap segment of the broader market, while growth topped value among large-caps. Commodities, as measured by the Bloomberg Barclays Commodity Index Total Return, rose 35.04%.
Within fixed income, U.S. taxable investment-grade bonds, as measured by the Bloomberg Barclays U.S. Aggregate Bond Index, gained 0.71% the past 12 months. Treasury Inflation-Protected Securities (+8.12%) and corporate bonds (+7.88%) outperformed the broader investment-grade bond index. Long-term (-15.80%) and short-term (+0.13%) U.S. Treasuries underperformed, as did government-related securities (-4.26%). Commercial mortgage-backed securities (+4.36%) and asset-backed securities (+4.57%) each lagged, whereas leveraged loans (+21.93%), high-yield bonds (+20.31%) and emerging-market debt (+14.29%) stood out.
Comments from Co-Portfolio Managers Andrew Dierdorf and Brett Sumsion: For the fiscal year, shares of each Fidelity Flex Freedom
® Blend Fund posted a gain, ranging from 12.84% for Fidelity Flex Freedom Blend Income Fund to 56.66% for Fidelity Flex Freedom Blend 2065 Fund. Each Fund outperformed its Composite index the past 12 months. Security selection among the underlying investment portfolios primarily drove the Funds’ outperformance of Composite indexes. Active asset allocation decisions boosted the Funds' relative results to a lesser extent. Specifically, strong performance among underlying U.S. equity funds notably contributed. In this asset class, Fidelity
® Series Blue Chip Growth Fund (+97.44%) was the top contributor, outperforming the 62.74% advance of its benchmark, the Russell 1000
® Growth Index. Active management among non-U.S. equities also helped the Funds outperform Composites. Fidelity
® Series Emerging Markets Fund (+69.89%) was a key outperformer, besting the 58.41% advance of its benchmark, the MSCI Emerging Markets Index. In investment-grade bonds, an investment in Fidelity
® Series Investment Grade Bond Fund (+6.51%) helped, as this fund topped the 0.71% return of the Bloomberg Barclays U.S. Aggregate Bond Index. In terms of active asset allocation, underweighting investment-grade bonds contributed most, as this asset class lagged most others in which the Funds invest. The Funds' relative performance also got a boost from overweighting non-U.S. equities, particularly emerging-markets equities. Conversely, underweighting U.S. equities detracted most. Overweighting short-term debt securities and inflation-protected debt securities also held back relative performance.
The views expressed above reflect those of the portfolio manager(s) only through the end of the period as stated on the cover of this report and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity fund.
Fidelity Flex® Freedom Blend Income Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Treasury Bill Index Fund | 12.0 |
| Fidelity Series Inflation-Protected Bond Index Fund | 12.0 |
| Fidelity Series Investment Grade Bond Fund | 11.6 |
| Fidelity Series Government Bond Index Fund | 10.4 |
| Fidelity Series Corporate Bond Fund | 8.4 |
| Fidelity Series Investment Grade Securitized Fund | 8.1 |
| Fidelity Series Government Money Market Fund 0.08% | 7.6 |
| Fidelity Series Emerging Markets Opportunities Fund | 6.4 |
| Fidelity Series Short-Term Credit Fund | 3.7 |
| Fidelity Series Commodity Strategy Fund | 2.8 |
| | 83.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 9.2% |
| | International Equity Funds | 12.4% |
| | Bond Funds | 55.1% |
| | Short-Term Funds | 23.3% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Flex® Freedom Blend Income Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 9.2% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 102 | $1,772 |
| Fidelity Series Commodity Strategy Fund (a) | | 696 | 3,411 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 71 | 1,118 |
| Fidelity Series Large Cap Stock Fund (a) | | 66 | 1,221 |
| Fidelity Series Large Cap Value Index Fund (a) | | 159 | 2,332 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 33 | 590 |
| Fidelity Series Value Discovery Fund (a) | | 54 | 862 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $9,192) | | | 11,306 |
|
| International Equity Funds - 12.4% | | | |
| Fidelity Series Canada Fund (a) | | 49 | 630 |
| Fidelity Series Emerging Markets Fund (a) | | 75 | 877 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 309 | 7,928 |
| Fidelity Series International Growth Fund (a) | | 86 | 1,548 |
| Fidelity Series International Index Fund (a) | | 55 | 646 |
| Fidelity Series International Small Cap Fund (a) | | 27 | 558 |
| Fidelity Series International Value Fund (a) | | 143 | 1,547 |
| Fidelity Series Overseas Fund (a) | | 123 | 1,551 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $11,445) | | | 15,285 |
|
| Bond Funds - 55.1% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 960 | 10,413 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 74 | 669 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 22 | 220 |
| Fidelity Series Floating Rate High Income Fund (a) | | 14 | 132 |
| Fidelity Series Government Bond Index Fund (a) | | 1,226 | 12,839 |
| Fidelity Series High Income Fund (a) | | 83 | 781 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 1,376 | 14,775 |
| Fidelity Series International Credit Fund (a) | | 6 | 63 |
| Fidelity Series Investment Grade Bond Fund (a) | | 1,236 | 14,251 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 969 | 9,984 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 426 | 3,362 |
| Fidelity Series Real Estate Income Fund (a) | | 42 | 469 |
| TOTAL BOND FUNDS | | | |
| (Cost $67,003) | | | 67,958 |
|
| Short-Term Funds - 23.3% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 9,303 | 9,303 |
| Fidelity Series Short-Term Credit Fund (a) | | 451 | 4,588 |
| Fidelity Series Treasury Bill Index Fund (a) | | 1,478 | 14,780 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $28,594) | | | 28,671 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $116,234) | | | 123,220 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | 2 |
| NET ASSETS - 100% | | | $123,222 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $890 | $1,399 | $969 | $571 | $84 | $368 | $1,772 |
| Fidelity Series Canada Fund | 576 | 134 | 346 | 13 | (31) | 297 | 630 |
| Fidelity Series Commodity Strategy Fund | 3,707 | 607 | 1,792 | 14 | (377) | 1,266 | 3,411 |
| Fidelity Series Corporate Bond Fund | 8,355 | 2,200 | 674 | 402 | (15) | 547 | 10,413 |
| Fidelity Series Emerging Markets Debt Fund | 685 | 50 | 157 | 37 | (17) | 108 | 669 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 241 | 18 | 3 | 1 | (4) | 220 |
| Fidelity Series Emerging Markets Fund | 452 | 323 | 291 | 13 | 15 | 378 | 877 |
| Fidelity Series Emerging Markets Opportunities Fund | 4,491 | 3,058 | 3,108 | 241 | 345 | 3,142 | 7,928 |
| Fidelity Series Floating Rate High Income Fund | 146 | 7 | 42 | 7 | (2) | 23 | 132 |
| Fidelity Series Government Bond Index Fund | 13,027 | 2,204 | 1,445 | 357 | 63 | (1,010) | 12,839 |
| Fidelity Series Government Money Market Fund 0.08% | 5,568 | 9,014 | 5,279 | 10 | -- | -- | 9,303 |
| Fidelity Series High Income Fund | 748 | 46 | 119 | 46 | (3) | 109 | 781 |
| Fidelity Series Inflation-Protected Bond Index Fund | 13,187 | 1,201 | 488 | 193 | 5 | 870 | 14,775 |
| Fidelity Series International Credit Fund | 56 | 5 | -- | 4 | -- | 2 | 63 |
| Fidelity Series International Growth Fund | 1,755 | 387 | 979 | 227 | 70 | 315 | 1,548 |
| Fidelity Series International Index Fund | 643 | 116 | 351 | 13 | (22) | 260 | 646 |
| Fidelity Series International Small Cap Fund | 508 | 24 | 217 | 5 | -- | 243 | 558 |
| Fidelity Series International Value Fund | 1,734 | 228 | 1,107 | 44 | (198) | 890 | 1,547 |
| Fidelity Series Investment Grade Bond Fund | 12,723 | 2,174 | 601 | 851 | (5) | (40) | 14,251 |
| Fidelity Series Investment Grade Securitized Fund | 8,863 | 1,853 | 504 | 304 | 2 | (230) | 9,984 |
| Fidelity Series Large Cap Growth Index Fund | 619 | 685 | 636 | 34 | 57 | 393 | 1,118 |
| Fidelity Series Large Cap Stock Fund | 640 | 759 | 645 | 69 | 37 | 430 | 1,221 |
| Fidelity Series Large Cap Value Index Fund | 1,226 | 1,433 | 1,186 | 50 | 2 | 857 | 2,332 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2,700 | 1,824 | 319 | 321 | 19 | (862) | 3,362 |
| Fidelity Series Overseas Fund | 1,676 | 302 | 1,065 | 18 | 30 | 608 | 1,551 |
| Fidelity Series Real Estate Income Fund | 412 | 32 | 103 | 32 | (5) | 133 | 469 |
| Fidelity Series Short-Term Credit Fund | 5,217 | 550 | 1,335 | 123 | 21 | 135 | 4,588 |
| Fidelity Series Small Cap Opportunities Fund | 296 | 322 | 324 | 13 | 19 | 277 | 590 |
| Fidelity Series Treasury Bill Index Fund | 17,984 | 1,536 | 4,668 | 89 | (5) | (67) | 14,780 |
| Fidelity Series Value Discovery Fund | 355 | 589 | 412 | 19 | 18 | 312 | 862 |
| | $109,239 | $33,303 | $29,180 | $4,123 | $108 | $9,750 | $123,220 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $11,306 | $11,306 | $-- | $-- |
| International Equity Funds | 15,285 | 15,285 | -- | -- |
| Bond Funds | 67,958 | 67,958 | -- | -- |
| Short-Term Funds | 28,671 | 28,671 | -- | -- |
| Total Investments in Securities: | $123,220 | $123,220 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend Income Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $116,234) | $123,220 | |
| Total Investment in Securities (cost $116,234) | | $123,220 |
| Cash | | 3 |
| Receivable for investments sold | | 799 |
| Total assets | | 124,022 |
| Liabilities | | |
| Payable for investments purchased | $800 | |
| Total liabilities | | 800 |
| Net Assets | | $123,222 |
| Net Assets consist of: | | |
| Paid in capital | | $115,146 |
| Total accumulated earnings (loss) | | 8,076 |
| Net Assets | | $123,222 |
| Net Asset Value, offering price and redemption price per share ($123,222 ÷ 11,495 shares) | | $10.72 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $1,627 |
| Expenses | | |
| Independent trustees' fees and expenses | $1 | |
| Total expenses | | 1 |
| Net investment income (loss) | | 1,626 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 111 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 2,496 | |
| Total net realized gain (loss) | | 2,607 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 9,750 | |
| Total change in net unrealized appreciation (depreciation) | | 9,750 |
| Net gain (loss) | | 12,357 |
| Net increase (decrease) in net assets resulting from operations | | $13,983 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $1,626 | $2,560 |
| Net realized gain (loss) | 2,607 | 1,876 |
| Change in net unrealized appreciation (depreciation) | 9,750 | (2,036) |
| Net increase (decrease) in net assets resulting from operations | 13,983 | 2,400 |
| Distributions to shareholders | (3,583) | (4,839) |
| Share transactions | | |
| Reinvestment of distributions | 3,583 | 4,839 |
| Net increase (decrease) in net assets resulting from share transactions | 3,583 | 4,839 |
| Total increase (decrease) in net assets | 13,983 | 2,400 |
| Net Assets | | |
| Beginning of period | 109,239 | 106,839 |
| End of period | $123,222 | $109,239 |
| Other Information | | |
| Shares | | |
| Sold | – | – |
| Issued in reinvestment of distributions | 340 | 477 |
| Net increase (decrease) | 340 | 477 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Flex Freedom Blend Income Fund
| | | | | |
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $9.79 | $10.01 | $10.09 | $10.00 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .14 | .23 | .25 | .18 |
| Net realized and unrealized gain (loss) | 1.11 | –C | .10 | .13 |
| Total from investment operations | 1.25 | .23 | .35 | .31 |
| Distributions from net investment income | (.15) | (.24) | (.25) | (.16) |
| Distributions from net realized gain | (.17) | (.21) | (.18) | (.06) |
| Total distributions | (.32) | (.45) | (.43) | (.22) |
| Net asset value, end of period | $10.72 | $9.79 | $10.01 | $10.09 |
| Total ReturnD | 12.84% | 2.17% | 3.63% | 3.14% |
| Ratios to Average Net AssetsE,F | | | | |
| Expenses before reductions | - %G | - %G | - %G | - %H |
| Expenses net of fee waivers, if any | - %G | - %G | - %G | - %H |
| Expenses net of all reductions | - %G | - %G | - %G | - %H |
| Net investment income (loss) | 1.37% | 2.31% | 2.51% | 2.21%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $123 | $109 | $107 | $103 |
| Portfolio turnover rateI | 25% | 63% | 23% | 10%H |
A For the period June 8, 2017 (commencement of operations) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount represents less than .005%.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2005 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Inflation-Protected Bond Index Fund | 11.2 |
| Fidelity Series Investment Grade Bond Fund | 11.1 |
| Fidelity Series Treasury Bill Index Fund | 10.9 |
| Fidelity Series Government Bond Index Fund | 10.0 |
| Fidelity Series Corporate Bond Fund | 8.1 |
| Fidelity Series Investment Grade Securitized Fund | 7.8 |
| Fidelity Series Emerging Markets Opportunities Fund | 6.9 |
| Fidelity Series Government Money Market Fund 0.08% | 6.9 |
| Fidelity Series Short-Term Credit Fund | 3.4 |
| Fidelity Series Commodity Strategy Fund | 2.8 |
| | 79.1 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 11.8% |
| | International Equity Funds | 14.1% |
| | Bond Funds | 52.9% |
| | Short-Term Funds | 21.2% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Flex® Freedom Blend 2005 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 11.8% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 147 | $2,554 |
| Fidelity Series Commodity Strategy Fund (a) | | 715 | 3,501 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 102 | 1,612 |
| Fidelity Series Large Cap Stock Fund (a) | | 95 | 1,759 |
| Fidelity Series Large Cap Value Index Fund (a) | | 229 | 3,361 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 48 | 850 |
| Fidelity Series Value Discovery Fund (a) | | 78 | 1,242 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $12,085) | | | 14,879 |
|
| International Equity Funds - 14.1% | | | |
| Fidelity Series Canada Fund (a) | | 62 | 792 |
| Fidelity Series Emerging Markets Fund (a) | | 83 | 968 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 341 | 8,739 |
| Fidelity Series International Growth Fund (a) | | 109 | 1,947 |
| Fidelity Series International Index Fund (a) | | 70 | 813 |
| Fidelity Series International Small Cap Fund (a) | | 34 | 702 |
| Fidelity Series International Value Fund (a) | | 179 | 1,945 |
| Fidelity Series Overseas Fund (a) | | 155 | 1,950 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $13,529) | | | 17,856 |
|
| Bond Funds - 52.9% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 946 | 10,269 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 76 | 687 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 23 | 227 |
| Fidelity Series Floating Rate High Income Fund (a) | | 15 | 136 |
| Fidelity Series Government Bond Index Fund (a) | | 1,209 | 12,661 |
| Fidelity Series High Income Fund (a) | | 85 | 799 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 1,322 | 14,193 |
| Fidelity Series International Credit Fund (a) | | 6 | 63 |
| Fidelity Series Investment Grade Bond Fund (a) | | 1,219 | 14,053 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 956 | 9,845 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 437 | 3,451 |
| Fidelity Series Real Estate Income Fund (a) | | 44 | 481 |
| TOTAL BOND FUNDS | | | |
| (Cost $66,098) | | | 66,865 |
|
| Short-Term Funds - 21.2% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 8,699 | 8,699 |
| Fidelity Series Short-Term Credit Fund (a) | | 422 | 4,290 |
| Fidelity Series Treasury Bill Index Fund (a) | | 1,381 | 13,813 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $26,726) | | | 26,802 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $118,438) | | | 126,402 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | 1 |
| NET ASSETS - 100% | | | $126,403 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $1,723 | $1,577 | $1,529 | $864 | $201 | $582 | $2,554 |
| Fidelity Series Canada Fund | 721 | 146 | 416 | 16 | (14) | 355 | 792 |
| Fidelity Series Commodity Strategy Fund | 3,707 | 619 | 1,729 | 14 | (351) | 1,255 | 3,501 |
| Fidelity Series Corporate Bond Fund | 7,918 | 2,571 | 709 | 388 | (16) | 505 | 10,269 |
| Fidelity Series Emerging Markets Debt Fund | 685 | 52 | 141 | 37 | (15) | 106 | 687 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 246 | 17 | 3 | 1 | (3) | 227 |
| Fidelity Series Emerging Markets Fund | 522 | 326 | 317 | 14 | 17 | 420 | 968 |
| Fidelity Series Emerging Markets Opportunities Fund | 5,153 | 2,957 | 3,243 | 267 | 372 | 3,500 | 8,739 |
| Fidelity Series Floating Rate High Income Fund | 148 | 8 | 41 | 7 | (2) | 23 | 136 |
| Fidelity Series Government Bond Index Fund | 12,258 | 2,523 | 1,196 | 345 | 46 | (970) | 12,661 |
| Fidelity Series Government Money Market Fund 0.08% | 4,900 | 8,723 | 4,924 | 9 | -- | -- | 8,699 |
| Fidelity Series High Income Fund | 755 | 47 | 109 | 47 | (3) | 109 | 799 |
| Fidelity Series Inflation-Protected Bond Index Fund | 12,031 | 1,756 | 401 | 183 | 2 | 805 | 14,193 |
| Fidelity Series International Credit Fund | 57 | 4 | -- | 4 | -- | 2 | 63 |
| Fidelity Series International Growth Fund | 2,316 | 474 | 1,348 | 291 | 97 | 408 | 1,947 |
| Fidelity Series International Index Fund | 827 | 117 | 436 | 16 | (18) | 323 | 813 |
| Fidelity Series International Small Cap Fund | 653 | 19 | 283 | 6 | 8 | 305 | 702 |
| Fidelity Series International Value Fund | 2,200 | 234 | 1,373 | 57 | (181) | 1,065 | 1,945 |
| Fidelity Series Investment Grade Bond Fund | 12,029 | 2,780 | 692 | 822 | (4) | (60) | 14,053 |
| Fidelity Series Investment Grade Securitized Fund | 8,330 | 2,221 | 481 | 294 | 1 | (226) | 9,845 |
| Fidelity Series Large Cap Growth Index Fund | 1,249 | 571 | 947 | 54 | 136 | 603 | 1,612 |
| Fidelity Series Large Cap Stock Fund | 1,294 | 671 | 949 | 105 | 61 | 682 | 1,759 |
| Fidelity Series Large Cap Value Index Fund | 2,438 | 1,275 | 1,718 | 74 | 15 | 1,351 | 3,361 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2,711 | 1,935 | 336 | 326 | 22 | (881) | 3,451 |
| Fidelity Series Overseas Fund | 2,115 | 376 | 1,357 | 23 | 52 | 764 | 1,950 |
| Fidelity Series Real Estate Income Fund | 417 | 32 | 98 | 32 | (5) | 135 | 481 |
| Fidelity Series Short-Term Credit Fund | 4,605 | 508 | 961 | 109 | 13 | 125 | 4,290 |
| Fidelity Series Small Cap Opportunities Fund | 624 | 268 | 508 | 19 | 11 | 455 | 850 |
| Fidelity Series Treasury Bill Index Fund | 16,102 | 1,378 | 3,603 | 80 | (5) | (59) | 13,813 |
| Fidelity Series Value Discovery Fund | 739 | 574 | 594 | 28 | 29 | 494 | 1,242 |
| | $109,227 | $34,988 | $30,456 | $4,534 | $470 | $12,173 | $126,402 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $14,879 | $14,879 | $-- | $-- |
| International Equity Funds | 17,856 | 17,856 | -- | -- |
| Bond Funds | 66,865 | 66,865 | -- | -- |
| Short-Term Funds | 26,802 | 26,802 | -- | -- |
| Total Investments in Securities: | $126,402 | $126,402 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2005 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $118,438) | $126,402 | |
| Total Investment in Securities (cost $118,438) | | $126,402 |
| Receivable for investments sold | | 932 |
| Total assets | | 127,334 |
| Liabilities | | |
| Payable for investments purchased | $931 | |
| Total liabilities | | 931 |
| Net Assets | | $126,403 |
| Net Assets consist of: | | |
| Paid in capital | | $116,849 |
| Total accumulated earnings (loss) | | 9,554 |
| Net Assets | | $126,403 |
| Net Asset Value, offering price and redemption price per share ($126,403 ÷ 11,663 shares) | | $10.84 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $1,684 |
| Expenses | | |
| Independent trustees' fees and expenses | $1 | |
| Total expenses | | 1 |
| Net investment income (loss) | | 1,683 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 470 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 2,850 | |
| Total net realized gain (loss) | | 3,320 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 12,173 | |
| Total change in net unrealized appreciation (depreciation) | | 12,173 |
| Net gain (loss) | | 15,493 |
| Net increase (decrease) in net assets resulting from operations | | $17,176 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $1,683 | $2,591 |
| Net realized gain (loss) | 3,320 | 2,094 |
| Change in net unrealized appreciation (depreciation) | 12,173 | (3,331) |
| Net increase (decrease) in net assets resulting from operations | 17,176 | 1,354 |
| Distributions to shareholders | (4,220) | (5,390) |
| Share transactions | | |
| Reinvestment of distributions | 4,220 | 5,390 |
| Net increase (decrease) in net assets resulting from share transactions | 4,220 | 5,390 |
| Total increase (decrease) in net assets | 17,176 | 1,354 |
| Net Assets | | |
| Beginning of period | 109,227 | 107,873 |
| End of period | $126,403 | $109,227 |
| Other Information | | |
| Shares | | |
| Sold | – | – |
| Issued in reinvestment of distributions | 398 | 531 |
| Net increase (decrease) | 398 | 531 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Flex Freedom Blend 2005 Fund
| | | | | |
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $9.70 | $10.05 | $10.21 | $10.00 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .15 | .24 | .25 | .18 |
| Net realized and unrealized gain (loss) | 1.36 | (.09) | .08 | .25 |
| Total from investment operations | 1.51 | .15 | .33 | .43 |
| Distributions from net investment income | (.16) | (.25) | (.25) | (.14) |
| Distributions from net realized gain | (.21) | (.25) | (.24) | (.08) |
| Total distributions | (.37) | (.50) | (.49) | (.22) |
| Net asset value, end of period | $10.84 | $9.70 | $10.05 | $10.21 |
| Total ReturnC | 15.70% | 1.29% | 3.43% | 4.29% |
| Ratios to Average Net AssetsD,E | | | | |
| Expenses before reductions | - %F | - %F | - %F | - %G |
| Expenses net of fee waivers, if any | - %F | - %F | - %F | - %G |
| Expenses net of all reductions | - %F | - %F | - %F | - %G |
| Net investment income (loss) | 1.39% | 2.31% | 2.49% | 2.21%G |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $126 | $109 | $108 | $104 |
| Portfolio turnover rateH | 25% | 65% | 23% | 13%G |
A For the period June 8, 2017 (commencement of operations) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Amount represents less than .005%.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2010 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 10.1 |
| Fidelity Series Inflation-Protected Bond Index Fund | 9.7 |
| Fidelity Series Government Bond Index Fund | 9.1 |
| Fidelity Series Treasury Bill Index Fund | 8.8 |
| Fidelity Series Emerging Markets Opportunities Fund | 7.9 |
| Fidelity Series Corporate Bond Fund | 7.4 |
| Fidelity Series Investment Grade Securitized Fund | 7.1 |
| Fidelity Series Government Money Market Fund 0.08% | 5.6 |
| Fidelity Series Large Cap Value Index Fund | 4.3 |
| Fidelity Series Blue Chip Growth Fund | 3.2 |
| | 73.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 17.2% |
| | International Equity Funds | 17.8% |
| | Bond Funds | 47.9% |
| | Short-Term Funds | 17.1% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Flex® Freedom Blend 2010 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 17.2% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 244 | $4,251 |
| Fidelity Series Commodity Strategy Fund (a) | | 741 | 3,632 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 170 | 2,683 |
| Fidelity Series Large Cap Stock Fund (a) | | 159 | 2,930 |
| Fidelity Series Large Cap Value Index Fund (a) | | 381 | 5,596 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 80 | 1,415 |
| Fidelity Series Value Discovery Fund (a) | | 130 | 2,068 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $18,311) | | | 22,575 |
|
| International Equity Funds - 17.8% | | | |
| Fidelity Series Canada Fund (a) | | 89 | 1,142 |
| Fidelity Series Emerging Markets Fund (a) | | 98 | 1,148 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 404 | 10,376 |
| Fidelity Series International Growth Fund (a) | | 157 | 2,809 |
| Fidelity Series International Index Fund (a) | | 100 | 1,173 |
| Fidelity Series International Small Cap Fund (a) | | 49 | 1,013 |
| Fidelity Series International Value Fund (a) | | 259 | 2,806 |
| Fidelity Series Overseas Fund (a) | | 223 | 2,814 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $17,922) | | | 23,281 |
|
| Bond Funds - 47.9% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 890 | 9,655 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 79 | 713 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 24 | 236 |
| Fidelity Series Floating Rate High Income Fund (a) | | 15 | 140 |
| Fidelity Series Government Bond Index Fund (a) | | 1,137 | 11,904 |
| Fidelity Series High Income Fund (a) | | 88 | 825 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 1,186 | 12,732 |
| Fidelity Series International Credit Fund (a) | | 6 | 64 |
| Fidelity Series Investment Grade Bond Fund (a) | | 1,146 | 13,214 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 899 | 9,257 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 453 | 3,579 |
| Fidelity Series Real Estate Income Fund (a) | | 45 | 498 |
| TOTAL BOND FUNDS | | | |
| (Cost $62,301) | | | 62,817 |
|
| Short-Term Funds - 17.1% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 7,262 | 7,262 |
| Fidelity Series Short-Term Credit Fund (a) | | 352 | 3,580 |
| Fidelity Series Treasury Bill Index Fund (a) | | 1,154 | 11,541 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $22,319) | | | 22,383 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $120,853) | | | 131,056 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (1) |
| NET ASSETS - 100% | | | $131,055 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $2,958 | $2,068 | $2,066 | $1,392 | $336 | $955 | $4,251 |
| Fidelity Series Canada Fund | 978 | 226 | 533 | 23 | (29) | 500 | 1,142 |
| Fidelity Series Commodity Strategy Fund | 3,680 | 668 | 1,636 | 14 | (307) | 1,227 | 3,632 |
| Fidelity Series Corporate Bond Fund | 7,095 | 2,909 | 775 | 357 | (15) | 441 | 9,655 |
| Fidelity Series Emerging Markets Debt Fund | 680 | 57 | 113 | 38 | (12) | 101 | 713 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 252 | 14 | 3 | 1 | (3) | 236 |
| Fidelity Series Emerging Markets Fund | 621 | 327 | 308 | 16 | 20 | 488 | 1,148 |
| Fidelity Series Emerging Markets Opportunities Fund | 6,114 | 2,965 | 3,201 | 313 | 364 | 4,134 | 10,376 |
| Fidelity Series Floating Rate High Income Fund | 150 | 7 | 39 | 7 | (1) | 23 | 140 |
| Fidelity Series Government Bond Index Fund | 10,982 | 2,909 | 1,129 | 317 | 33 | (891) | 11,904 |
| Fidelity Series Government Money Market Fund 0.08% | 3,890 | 8,027 | 4,655 | 8 | -- | -- | 7,262 |
| Fidelity Series High Income Fund | 764 | 46 | 93 | 47 | (2) | 110 | 825 |
| Fidelity Series Inflation-Protected Bond Index Fund | 10,317 | 2,064 | 348 | 162 | 2 | 697 | 12,732 |
| Fidelity Series International Credit Fund | 57 | 5 | -- | 4 | -- | 2 | 64 |
| Fidelity Series International Growth Fund | 3,022 | 708 | 1,586 | 412 | 103 | 562 | 2,809 |
| Fidelity Series International Index Fund | 1,089 | 158 | 493 | 23 | (15) | 434 | 1,173 |
| Fidelity Series International Small Cap Fund | 893 | 21 | 334 | 9 | 7 | 426 | 1,013 |
| Fidelity Series International Value Fund | 2,876 | 313 | 1,600 | 81 | (243) | 1,460 | 2,806 |
| Fidelity Series Investment Grade Bond Fund | 10,748 | 3,313 | 769 | 755 | (7) | (71) | 13,214 |
| Fidelity Series Investment Grade Securitized Fund | 7,464 | 2,520 | 517 | 270 | (1) | (209) | 9,257 |
| Fidelity Series Large Cap Growth Index Fund | 2,184 | 620 | 1,340 | 88 | 215 | 1,004 | 2,683 |
| Fidelity Series Large Cap Stock Fund | 2,266 | 681 | 1,240 | 168 | 87 | 1,136 | 2,930 |
| Fidelity Series Large Cap Value Index Fund | 4,232 | 1,354 | 2,241 | 121 | 31 | 2,220 | 5,596 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2,692 | 2,096 | 327 | 332 | 28 | (910) | 3,579 |
| Fidelity Series Overseas Fund | 2,801 | 496 | 1,592 | 33 | 58 | 1,051 | 2,814 |
| Fidelity Series Real Estate Income Fund | 422 | 31 | 87 | 32 | (4) | 136 | 498 |
| Fidelity Series Short-Term Credit Fund | 3,721 | 404 | 656 | 88 | 8 | 103 | 3,580 |
| Fidelity Series Small Cap Opportunities Fund | 1,112 | 264 | 717 | 31 | 6 | 750 | 1,415 |
| Fidelity Series Treasury Bill Index Fund | 13,332 | 1,130 | 2,868 | 66 | (5) | (48) | 11,541 |
| Fidelity Series Value Discovery Fund | 1,310 | 670 | 776 | 46 | 39 | 825 | 2,068 |
| | $108,450 | $37,309 | $32,053 | $5,256 | $697 | $16,653 | $131,056 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $22,575 | $22,575 | $-- | $-- |
| International Equity Funds | 23,281 | 23,281 | -- | -- |
| Bond Funds | 62,817 | 62,817 | -- | -- |
| Short-Term Funds | 22,383 | 22,383 | -- | -- |
| Total Investments in Securities: | $131,056 | $131,056 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2010 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $120,853) | $131,056 | |
| Total Investment in Securities (cost $120,853) | | $131,056 |
| Receivable for investments sold | | 1,139 |
| Total assets | | 132,195 |
| Liabilities | | |
| Payable for investments purchased | $1,140 | |
| Total liabilities | | 1,140 |
| Net Assets | | $131,055 |
| Net Assets consist of: | | |
| Paid in capital | | $118,850 |
| Total accumulated earnings (loss) | | 12,205 |
| Net Assets | | $131,055 |
| Net Asset Value, offering price and redemption price per share ($131,055 ÷ 11,854 shares) | | $11.06 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $1,783 |
| Expenses | | |
| Independent trustees' fees and expenses | $1 | |
| Total expenses | | 1 |
| Net investment income (loss) | | 1,782 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 697 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 3,473 | |
| Total net realized gain (loss) | | 4,170 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 16,653 | |
| Total change in net unrealized appreciation (depreciation) | | 16,653 |
| Net gain (loss) | | 20,823 |
| Net increase (decrease) in net assets resulting from operations | | $22,605 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $1,782 | $2,627 |
| Net realized gain (loss) | 4,170 | 2,474 |
| Change in net unrealized appreciation (depreciation) | 16,653 | (5,415) |
| Net increase (decrease) in net assets resulting from operations | 22,605 | (314) |
| Distributions to shareholders | (4,973) | (5,958) |
| Share transactions | | |
| Reinvestment of distributions | 4,973 | 5,958 |
| Net increase (decrease) in net assets resulting from share transactions | 4,973 | 5,958 |
| Total increase (decrease) in net assets | 22,605 | (314) |
| Net Assets | | |
| Beginning of period | 108,450 | 108,764 |
| End of period | $131,055 | $108,450 |
| Other Information | | |
| Shares | | |
| Sold | – | – |
| Issued in reinvestment of distributions | 467 | 585 |
| Net increase (decrease) | 467 | 585 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Flex Freedom Blend 2010 Fund
| | | | | |
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $9.52 | $10.07 | $10.28 | $10.00 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .15 | .24 | .25 | .19 |
| Net realized and unrealized gain (loss) | 1.82 | (.24) | .07 | .33 |
| Total from investment operations | 1.97 | –C | .32 | .52 |
| Distributions from net investment income | (.17) | (.25) | (.25) | (.15) |
| Distributions from net realized gain | (.27) | (.30) | (.29) | (.10) |
| Total distributions | (.43)D | (.55) | (.53)D | (.24)D |
| Net asset value, end of period | $11.06 | $9.52 | $10.07 | $10.28 |
| Total ReturnE | 20.94% | (.34)% | 3.40% | 5.20% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | - %H | - %H | - %H | - %I |
| Expenses net of fee waivers, if any | - %H | - %H | - %H | - %I |
| Expenses net of all reductions | - %H | - %H | - %H | - %I |
| Net investment income (loss) | 1.45% | 2.32% | 2.46% | 2.22%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $131 | $108 | $109 | $105 |
| Portfolio turnover rateJ | 26% | 65% | 23% | 13%I |
A For the period June 8, 2017 (commencement of operations) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Amount represents less than .005%.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2015 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 9.0 |
| Fidelity Series Emerging Markets Opportunities Fund | 8.9 |
| Fidelity Series Inflation-Protected Bond Index Fund | 8.4 |
| Fidelity Series Government Bond Index Fund | 8.1 |
| Fidelity Series Treasury Bill Index Fund | 6.6 |
| Fidelity Series Corporate Bond Fund | 6.6 |
| Fidelity Series Investment Grade Securitized Fund | 6.3 |
| Fidelity Series Large Cap Value Index Fund | 5.9 |
| Fidelity Series Blue Chip Growth Fund | 4.5 |
| Fidelity Series Government Money Market Fund 0.08% | 4.2 |
| | 68.5 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 22.7% |
| | International Equity Funds | 21.5% |
| | Bond Funds | 42.9% |
| | Short-Term Funds | 12.9% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Flex® Freedom Blend 2015 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 22.7% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 349 | $6,080 |
| Fidelity Series Commodity Strategy Fund (a) | | 768 | 3,763 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 243 | 3,837 |
| Fidelity Series Large Cap Stock Fund (a) | | 227 | 4,191 |
| Fidelity Series Large Cap Value Index Fund (a) | | 545 | 8,005 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 114 | 2,025 |
| Fidelity Series Value Discovery Fund (a) | | 186 | 2,958 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $25,005) | | | 30,859 |
|
| International Equity Funds - 21.5% | | | |
| Fidelity Series Canada Fund (a) | | 119 | 1,517 |
| Fidelity Series Emerging Markets Fund (a) | | 115 | 1,342 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 473 | 12,136 |
| Fidelity Series International Growth Fund (a) | | 208 | 3,732 |
| Fidelity Series International Index Fund (a) | | 133 | 1,558 |
| Fidelity Series International Small Cap Fund (a) | | 65 | 1,346 |
| Fidelity Series International Value Fund (a) | | 344 | 3,728 |
| Fidelity Series Overseas Fund (a) | | 296 | 3,738 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $22,643) | | | 29,097 |
|
| Bond Funds - 42.9% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 820 | 8,894 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 81 | 739 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 24 | 245 |
| Fidelity Series Floating Rate High Income Fund (a) | | 16 | 144 |
| Fidelity Series Government Bond Index Fund (a) | | 1,047 | 10,967 |
| Fidelity Series High Income Fund (a) | | 91 | 854 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 1,065 | 11,440 |
| Fidelity Series International Credit Fund (a) | | 7 | 65 |
| Fidelity Series Investment Grade Bond Fund (a) | | 1,056 | 12,173 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 828 | 8,528 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 469 | 3,708 |
| Fidelity Series Real Estate Income Fund (a) | | 47 | 516 |
| TOTAL BOND FUNDS | | | |
| (Cost $57,973) | | | 58,273 |
|
| Short-Term Funds - 12.9% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 5,693 | 5,693 |
| Fidelity Series Short-Term Credit Fund (a) | | 276 | 2,807 |
| Fidelity Series Treasury Bill Index Fund (a) | | 905 | 9,048 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $17,497) | | | 17,548 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $123,118) | | | 135,777 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | 1 |
| NET ASSETS - 100% | | | $135,778 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $4,171 | $2,528 | $2,403 | $1,938 | $437 | $1,347 | $6,080 |
| Fidelity Series Canada Fund | 1,238 | 254 | 580 | 30 | (30) | 635 | 1,517 |
| Fidelity Series Commodity Strategy Fund | 3,651 | 733 | 1,556 | 15 | (281) | 1,216 | 3,763 |
| Fidelity Series Corporate Bond Fund | 6,240 | 3,084 | 791 | 321 | (14) | 375 | 8,894 |
| Fidelity Series Emerging Markets Debt Fund | 675 | 61 | 85 | 38 | (9) | 97 | 739 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 259 | 11 | 4 | -- | (3) | 245 |
| Fidelity Series Emerging Markets Fund | 727 | 329 | 294 | 19 | 22 | 558 | 1,342 |
| Fidelity Series Emerging Markets Opportunities Fund | 7,032 | 3,055 | 3,082 | 362 | 346 | 4,785 | 12,136 |
| Fidelity Series Floating Rate High Income Fund | 151 | 7 | 36 | 7 | (1) | 23 | 144 |
| Fidelity Series Government Bond Index Fund | 9,656 | 3,255 | 1,162 | 285 | 21 | (803) | 10,967 |
| Fidelity Series Government Money Market Fund 0.08% | 3,003 | 7,033 | 4,343 | 5 | -- | -- | 5,693 |
| Fidelity Series High Income Fund | 772 | 50 | 77 | 48 | (2) | 111 | 854 |
| Fidelity Series Inflation-Protected Bond Index Fund | 8,907 | 2,297 | 374 | 144 | 1 | 609 | 11,440 |
| Fidelity Series International Credit Fund | 58 | 5 | -- | 4 | -- | 2 | 65 |
| Fidelity Series International Growth Fund | 3,711 | 893 | 1,715 | 540 | 116 | 727 | 3,732 |
| Fidelity Series International Index Fund | 1,359 | 173 | 509 | 30 | (14) | 549 | 1,558 |
| Fidelity Series International Small Cap Fund | 1,096 | 33 | 328 | 12 | 9 | 536 | 1,346 |
| Fidelity Series International Value Fund | 3,542 | 412 | 1,791 | 106 | (174) | 1,739 | 3,728 |
| Fidelity Series Investment Grade Bond Fund | 9,410 | 3,636 | 786 | 679 | (9) | (78) | 12,173 |
| Fidelity Series Investment Grade Securitized Fund | 6,566 | 2,748 | 593 | 243 | (1) | (192) | 8,528 |
| Fidelity Series Large Cap Growth Index Fund | 3,099 | 633 | 1,581 | 123 | 265 | 1,421 | 3,837 |
| Fidelity Series Large Cap Stock Fund | 3,217 | 810 | 1,558 | 234 | 105 | 1,617 | 4,191 |
| Fidelity Series Large Cap Value Index Fund | 5,990 | 1,531 | 2,678 | 170 | 49 | 3,113 | 8,005 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2,684 | 2,256 | 330 | 339 | 29 | (931) | 3,708 |
| Fidelity Series Overseas Fund | 3,473 | 630 | 1,766 | 43 | 46 | 1,355 | 3,738 |
| Fidelity Series Real Estate Income Fund | 425 | 32 | 75 | 33 | (3) | 137 | 516 |
| Fidelity Series Short-Term Credit Fund | 2,803 | 298 | 377 | 67 | 4 | 79 | 2,807 |
| Fidelity Series Small Cap Opportunities Fund | 1,589 | 269 | 899 | 43 | 3 | 1,063 | 2,025 |
| Fidelity Series Treasury Bill Index Fund | 10,499 | 832 | 2,241 | 52 | (5) | (37) | 9,048 |
| Fidelity Series Value Discovery Fund | 1,867 | 780 | 898 | 65 | 48 | 1,161 | 2,958 |
| | $107,611 | $38,916 | $32,919 | $5,999 | $958 | $21,211 | $135,777 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $30,859 | $30,859 | $-- | $-- |
| International Equity Funds | 29,097 | 29,097 | -- | -- |
| Bond Funds | 58,273 | 58,273 | -- | -- |
| Short-Term Funds | 17,548 | 17,548 | -- | -- |
| Total Investments in Securities: | $135,777 | $135,777 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2015 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $123,118) | $135,777 | |
| Total Investment in Securities (cost $123,118) | | $135,777 |
| Receivable for investments sold | | 1,328 |
| Total assets | | 137,105 |
| Liabilities | | |
| Payable for investments purchased | $1,327 | |
| Total liabilities | | 1,327 |
| Net Assets | | $135,778 |
| Net Assets consist of: | | |
| Paid in capital | | $120,717 |
| Total accumulated earnings (loss) | | 15,061 |
| Net Assets | | $135,778 |
| Net Asset Value, offering price and redemption price per share ($135,778 ÷ 12,028 shares) | | $11.29 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $1,881 |
| Expenses | | |
| Independent trustees' fees and expenses | $1 | |
| Total expenses | | 1 |
| Net investment income (loss) | | 1,880 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 958 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 4,118 | |
| Total net realized gain (loss) | | 5,076 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 21,211 | |
| Total change in net unrealized appreciation (depreciation) | | 21,211 |
| Net gain (loss) | | 26,287 |
| Net increase (decrease) in net assets resulting from operations | | $28,167 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $1,880 | $2,667 |
| Net realized gain (loss) | 5,076 | 2,625 |
| Change in net unrealized appreciation (depreciation) | 21,211 | (7,301) |
| Net increase (decrease) in net assets resulting from operations | 28,167 | (2,009) |
| Distributions to shareholders | (5,633) | (6,490) |
| Share transactions | | |
| Reinvestment of distributions | 5,633 | 6,490 |
| Net increase (decrease) in net assets resulting from share transactions | 5,633 | 6,490 |
| Total increase (decrease) in net assets | 28,167 | (2,009) |
| Net Assets | | |
| Beginning of period | 107,611 | 109,620 |
| End of period | $135,778 | $107,611 |
| Other Information | | |
| Shares | | |
| Sold | – | – |
| Issued in reinvestment of distributions | 524 | 636 |
| Net increase (decrease) | 524 | 636 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Flex Freedom Blend 2015 Fund
| | | | | |
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $9.35 | $10.09 | $10.35 | $10.00 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .16 | .24 | .24 | .19 |
| Net realized and unrealized gain (loss) | 2.27 | (.39) | .08 | .42 |
| Total from investment operations | 2.43 | (.15) | .32 | .61 |
| Distributions from net investment income | (.17) | (.25) | (.24) | (.15) |
| Distributions from net realized gain | (.31) | (.34) | (.33) | (.11) |
| Total distributions | (.49)C | (.59) | (.58)C | (.26) |
| Net asset value, end of period | $11.29 | $9.35 | $10.09 | $10.35 |
| Total ReturnD | 26.24% | (1.91)% | 3.37% | 6.09% |
| Ratios to Average Net AssetsE,F | | | | |
| Expenses before reductions | - %G | - %G | - %G | - %H |
| Expenses net of fee waivers, if any | - %G | - %G | - %G | - %H |
| Expenses net of all reductions | - %G | - %G | - %G | - %H |
| Net investment income (loss) | 1.50% | 2.34% | 2.43% | 2.21%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $136 | $108 | $110 | $106 |
| Portfolio turnover rateI | 26% | 66% | 23% | 14%H |
A For the period June 8, 2017 (commencement of operations) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount represents less than .005%.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2020 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 9.9 |
| Fidelity Series Investment Grade Bond Fund | 7.8 |
| Fidelity Series Large Cap Value Index Fund | 7.5 |
| Fidelity Series Inflation-Protected Bond Index Fund | 7.2 |
| Fidelity Series Government Bond Index Fund | 7.1 |
| Fidelity Series Corporate Bond Fund | 5.7 |
| Fidelity Series Blue Chip Growth Fund | 5.6 |
| Fidelity Series Investment Grade Securitized Fund | 5.5 |
| Fidelity Series Treasury Bill Index Fund | 4.6 |
| Fidelity Series Large Cap Stock Fund | 3.9 |
| | 64.8 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 28.1% |
| | International Equity Funds | 25.0% |
| | Bond Funds | 37.9% |
| | Short-Term Funds | 9.0% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Flex® Freedom Blend 2020 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 28.1% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 454 | $7,910 |
| Fidelity Series Commodity Strategy Fund (a) | | 792 | 3,879 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 318 | 5,022 |
| Fidelity Series Large Cap Stock Fund (a) | | 297 | 5,486 |
| Fidelity Series Large Cap Value Index Fund (a) | | 713 | 10,478 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 150 | 2,650 |
| Fidelity Series Value Discovery Fund (a) | | 246 | 3,919 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $31,856) | | | 39,344 |
|
| International Equity Funds - 25.0% | | | |
| Fidelity Series Canada Fund (a) | | 149 | 1,901 |
| Fidelity Series Emerging Markets Fund (a) | | 132 | 1,538 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 542 | 13,905 |
| Fidelity Series International Growth Fund (a) | | 261 | 4,676 |
| Fidelity Series International Index Fund (a) | | 167 | 1,952 |
| Fidelity Series International Small Cap Fund (a) | | 81 | 1,686 |
| Fidelity Series International Value Fund (a) | | 430 | 4,671 |
| Fidelity Series Overseas Fund (a) | | 371 | 4,684 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $27,523) | | | 35,013 |
|
| Bond Funds - 37.9% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 739 | 8,023 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 84 | 761 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 25 | 251 |
| Fidelity Series Floating Rate High Income Fund (a) | | 16 | 148 |
| Fidelity Series Government Bond Index Fund (a) | | 945 | 9,893 |
| Fidelity Series High Income Fund (a) | | 94 | 880 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 935 | 10,047 |
| Fidelity Series International Credit Fund (a) | | 8 | 79 |
| Fidelity Series Investment Grade Bond Fund (a) | | 952 | 10,981 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 747 | 7,693 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 484 | 3,823 |
| Fidelity Series Real Estate Income Fund (a) | | 48 | 532 |
| TOTAL BOND FUNDS | | | |
| (Cost $53,013) | | | 53,111 |
|
| Short-Term Funds - 9.0% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 4,074 | 4,074 |
| Fidelity Series Short-Term Credit Fund (a) | | 197 | 2,008 |
| Fidelity Series Treasury Bill Index Fund (a) | | 648 | 6,476 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $12,519) | | | 12,558 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $124,911) | | | 140,026 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (1) |
| NET ASSETS - 100% | | | $140,025 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $5,247 | $3,277 | $2,841 | $2,472 | $499 | $1,728 | $7,910 |
| Fidelity Series Canada Fund | 1,442 | 252 | 521 | 38 | (19) | 747 | 1,901 |
| Fidelity Series Commodity Strategy Fund | 3,618 | 806 | 1,492 | 15 | (250) | 1,197 | 3,879 |
| Fidelity Series Corporate Bond Fund | 5,456 | 3,038 | 779 | 285 | (13) | 321 | 8,023 |
| Fidelity Series Emerging Markets Debt Fund | 668 | 64 | 57 | 37 | (6) | 92 | 761 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 261 | 7 | 4 | -- | (3) | 251 |
| Fidelity Series Emerging Markets Fund | 816 | 322 | 241 | 21 | 16 | 625 | 1,538 |
| Fidelity Series Emerging Markets Opportunities Fund | 7,822 | 3,229 | 2,868 | 410 | 314 | 5,408 | 13,905 |
| Fidelity Series Floating Rate High Income Fund | 151 | 7 | 32 | 7 | (1) | 23 | 148 |
| Fidelity Series Government Bond Index Fund | 8,442 | 3,240 | 1,090 | 253 | 14 | (713) | 9,893 |
| Fidelity Series Government Money Market Fund 0.08% | 2,285 | 5,630 | 3,841 | 4 | -- | -- | 4,074 |
| Fidelity Series High Income Fund | 775 | 53 | 57 | 48 | (1) | 110 | 880 |
| Fidelity Series Inflation-Protected Bond Index Fund | 7,541 | 2,395 | 408 | 125 | 1 | 518 | 10,047 |
| Fidelity Series International Credit Fund | 70 | 6 | -- | 5 | -- | 3 | 79 |
| Fidelity Series International Growth Fund | 4,328 | 1,165 | 1,805 | 666 | 104 | 884 | 4,676 |
| Fidelity Series International Index Fund | 1,602 | 232 | 527 | 37 | (10) | 655 | 1,952 |
| Fidelity Series International Small Cap Fund | 1,271 | 33 | 275 | 14 | 9 | 648 | 1,686 |
| Fidelity Series International Value Fund | 4,131 | 614 | 1,970 | 130 | (151) | 2,047 | 4,671 |
| Fidelity Series Investment Grade Bond Fund | 8,185 | 3,772 | 887 | 602 | (9) | (80) | 10,981 |
| Fidelity Series Investment Grade Securitized Fund | 5,743 | 2,714 | 590 | 215 | (2) | (172) | 7,693 |
| Fidelity Series Large Cap Growth Index Fund | 3,908 | 650 | 1,655 | 157 | 276 | 1,843 | 5,022 |
| Fidelity Series Large Cap Stock Fund | 4,057 | 832 | 1,597 | 296 | 120 | 2,074 | 5,486 |
| Fidelity Series Large Cap Value Index Fund | 7,546 | 1,734 | 2,828 | 218 | 46 | 3,980 | 10,478 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2,673 | 2,406 | 336 | 344 | 29 | (949) | 3,823 |
| Fidelity Series Overseas Fund | 4,061 | 749 | 1,806 | 53 | (29) | 1,709 | 4,684 |
| Fidelity Series Real Estate Income Fund | 425 | 33 | 60 | 33 | (3) | 137 | 532 |
| Fidelity Series Short-Term Credit Fund | 1,986 | 61 | 97 | 48 | -- | 58 | 2,008 |
| Fidelity Series Small Cap Opportunities Fund | 2,010 | 302 | 1,008 | 55 | (2) | 1,348 | 2,650 |
| Fidelity Series Treasury Bill Index Fund | 8,013 | 493 | 1,998 | 40 | (5) | (27) | 6,476 |
| Fidelity Series Value Discovery Fund | 2,359 | 877 | 859 | 84 | 47 | 1,495 | 3,919 |
| Total | $106,631 | $39,247 | $32,532 | $6,716 | $974 | $25,706 | $140,026 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $39,344 | $39,344 | $-- | $-- |
| International Equity Funds | 35,013 | 35,013 | -- | -- |
| Bond Funds | 53,111 | 53,111 | -- | -- |
| Short-Term Funds | 12,558 | 12,558 | -- | -- |
| Total Investments in Securities: | $140,026 | $140,026 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2020 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $124,911) | $140,026 | |
| Total Investment in Securities (cost $124,911) | | $140,026 |
| Receivable for investments sold | | 1,359 |
| Total assets | | 141,385 |
| Liabilities | | |
| Payable for investments purchased | $1,360 | |
| Total liabilities | | 1,360 |
| Net Assets | | $140,025 |
| Net Assets consist of: | | |
| Paid in capital | | $122,229 |
| Total accumulated earnings (loss) | | 17,796 |
| Net Assets | | $140,025 |
| Net Asset Value, offering price and redemption price per share ($140,025 ÷ 12,170 shares) | | $11.51 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $1,977 |
| Expenses | | |
| Independent trustees' fees and expenses | $1 | |
| Total expenses | | 1 |
| Net investment income (loss) | | 1,976 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 974 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 4,739 | |
| Total net realized gain (loss) | | 5,713 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 25,706 | |
| Total change in net unrealized appreciation (depreciation) | | 25,706 |
| Net gain (loss) | | 31,419 |
| Net increase (decrease) in net assets resulting from operations | | $33,395 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $1,976 | $2,697 |
| Net realized gain (loss) | 5,713 | 2,900 |
| Change in net unrealized appreciation (depreciation) | 25,706 | (9,174) |
| Net increase (decrease) in net assets resulting from operations | 33,395 | (3,577) |
| Distributions to shareholders | (6,234) | (6,956) |
| Share transactions | | |
| Reinvestment of distributions | 6,233 | 6,956 |
| Net increase (decrease) in net assets resulting from share transactions | 6,233 | 6,956 |
| Total increase (decrease) in net assets | 33,394 | (3,577) |
| Net Assets | | |
| Beginning of period | 106,631 | 110,208 |
| End of period | $140,025 | $106,631 |
| Other Information | | |
| Shares | | |
| Sold | – | – |
| Issued in reinvestment of distributions | 576 | 681 |
| Net increase (decrease) | 576 | 681 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Flex Freedom Blend 2020 Fund
| | | | | |
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $9.20 | $10.10 | $10.40 | $10.00 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .17 | .24 | .24 | .19 |
| Net realized and unrealized gain (loss) | 2.67 | (.51) | .07 | .48 |
| Total from investment operations | 2.84 | (.27) | .31 | .67 |
| Distributions from net investment income | (.18) | (.25) | (.24) | (.16) |
| Distributions from net realized gain | (.36) | (.38) | (.36) | (.12) |
| Total distributions | (.53)C | (.63) | (.61)C | (.27)C |
| Net asset value, end of period | $11.51 | $9.20 | $10.10 | $10.40 |
| Total ReturnD | 31.33% | (3.23)% | 3.28% | 6.72% |
| Ratios to Average Net AssetsE,F | | | | |
| Expenses before reductions | - %G | - %G | - %G | - %H |
| Expenses net of fee waivers, if any | - %G | - %G | - %G | - %H |
| Expenses net of all reductions | - %G | - %G | - %G | - %H |
| Net investment income (loss) | 1.55% | 2.35% | 2.41% | 2.22%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $140 | $107 | $110 | $107 |
| Portfolio turnover rateI | 26% | 67% | 22% | 14%H |
A For the period June 8, 2017 (commencement of operations) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount represents less than .005%.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2025 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 10.6 |
| Fidelity Series Large Cap Value Index Fund | 8.6 |
| Fidelity Series Investment Grade Bond Fund | 7.1 |
| Fidelity Series Blue Chip Growth Fund | 6.5 |
| Fidelity Series Government Bond Index Fund | 6.4 |
| Fidelity Series Inflation-Protected Bond Index Fund | 6.3 |
| Fidelity Series Corporate Bond Fund | 5.2 |
| Fidelity Series Investment Grade Securitized Fund | 5.0 |
| Fidelity Series Large Cap Stock Fund | 4.6 |
| Fidelity Series Large Cap Growth Index Fund | 4.1 |
| | 64.4 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 32.0% |
| | International Equity Funds | 27.6% |
| | Bond Funds | 34.5% |
| | Short-Term Funds | 5.9% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Flex® Freedom Blend 2025 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 32.0% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 535 | $9,315 |
| Fidelity Series Commodity Strategy Fund (a) | | 811 | 3,975 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 376 | 5,937 |
| Fidelity Series Large Cap Stock Fund (a) | | 357 | 6,578 |
| Fidelity Series Large Cap Value Index Fund (a) | | 843 | 12,387 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 177 | 3,130 |
| Fidelity Series Value Discovery Fund (a) | | 287 | 4,577 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $37,213) | | | 45,899 |
|
| International Equity Funds - 27.6% | | | |
| Fidelity Series Canada Fund (a) | | 172 | 2,198 |
| Fidelity Series Emerging Markets Fund (a) | | 145 | 1,690 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 595 | 15,266 |
| Fidelity Series International Growth Fund (a) | | 301 | 5,407 |
| Fidelity Series International Index Fund (a) | | 193 | 2,257 |
| Fidelity Series International Small Cap Fund (a) | | 94 | 1,950 |
| Fidelity Series International Value Fund (a) | | 498 | 5,401 |
| Fidelity Series Overseas Fund (a) | | 429 | 5,416 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $31,325) | | | 39,585 |
|
| Bond Funds - 34.5% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 683 | 7,416 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 86 | 780 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 26 | 258 |
| Fidelity Series Floating Rate High Income Fund (a) | | 16 | 152 |
| Fidelity Series Government Bond Index Fund (a) | | 873 | 9,145 |
| Fidelity Series High Income Fund (a) | | 96 | 902 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 848 | 9,106 |
| Fidelity Series International Credit Fund (a) | | 8 | 80 |
| Fidelity Series Investment Grade Bond Fund (a) | | 880 | 10,150 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 690 | 7,111 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 496 | 3,917 |
| Fidelity Series Real Estate Income Fund (a) | | 49 | 546 |
| TOTAL BOND FUNDS | | | |
| (Cost $49,602) | | | 49,563 |
|
| Short-Term Funds - 5.9% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 2,739 | 2,739 |
| Fidelity Series Short-Term Credit Fund (a) | | 133 | 1,349 |
| Fidelity Series Treasury Bill Index Fund (a) | | 435 | 4,354 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $8,417) | | | 8,442 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $126,557) | | | 143,489 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (1) |
| NET ASSETS - 100% | | | $143,488 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $6,087 | $3,642 | $2,992 | $2,884 | $552 | $2,026 | $9,315 |
| Fidelity Series Canada Fund | 1,639 | 314 | 584 | 43 | (18) | 847 | 2,198 |
| Fidelity Series Commodity Strategy Fund | 3,596 | 852 | 1,430 | 15 | (220) | 1,177 | 3,975 |
| Fidelity Series Corporate Bond Fund | 4,894 | 3,096 | 841 | 259 | (15) | 282 | 7,416 |
| Fidelity Series Emerging Markets Debt Fund | 664 | 67 | 36 | 38 | (4) | 89 | 780 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 265 | 5 | 4 | -- | (2) | 258 |
| Fidelity Series Emerging Markets Fund | 879 | 373 | 256 | 24 | 22 | 672 | 1,690 |
| Fidelity Series Emerging Markets Opportunities Fund | 8,438 | 3,338 | 2,696 | 446 | 294 | 5,892 | 15,266 |
| Fidelity Series Floating Rate High Income Fund | 153 | 7 | 30 | 7 | (1) | 23 | 152 |
| Fidelity Series Government Bond Index Fund | 7,568 | 3,384 | 1,164 | 230 | 8 | (651) | 9,145 |
| Fidelity Series Government Money Market Fund 0.08% | 1,764 | 4,649 | 3,674 | 2 | -- | -- | 2,739 |
| Fidelity Series High Income Fund | 779 | 57 | 43 | 49 | (1) | 110 | 902 |
| Fidelity Series Inflation-Protected Bond Index Fund | 6,733 | 2,393 | 485 | 113 | 2 | 463 | 9,106 |
| Fidelity Series International Credit Fund | 71 | 6 | -- | 5 | -- | 3 | 80 |
| Fidelity Series International Growth Fund | 4,785 | 1,270 | 1,747 | 763 | 99 | 1,000 | 5,407 |
| Fidelity Series International Index Fund | 1,797 | 211 | 481 | 43 | (10) | 740 | 2,257 |
| Fidelity Series International Small Cap Fund | 1,413 | 46 | 252 | 16 | 8 | 735 | 1,950 |
| Fidelity Series International Value Fund | 4,587 | 663 | 2,000 | 149 | (120) | 2,271 | 5,401 |
| Fidelity Series Investment Grade Bond Fund | 7,300 | 3,789 | 849 | 548 | (9) | (81) | 10,150 |
| Fidelity Series Investment Grade Securitized Fund | 5,153 | 2,746 | 628 | 196 | (2) | (158) | 7,111 |
| Fidelity Series Large Cap Growth Index Fund | 4,544 | 698 | 1,765 | 183 | 280 | 2,180 | 5,937 |
| Fidelity Series Large Cap Stock Fund | 4,708 | 956 | 1,642 | 345 | 119 | 2,437 | 6,578 |
| Fidelity Series Large Cap Value Index Fund | 8,756 | 1,972 | 3,040 | 256 | 78 | 4,621 | 12,387 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2,680 | 2,531 | 357 | 348 | 32 | (969) | 3,917 |
| Fidelity Series Overseas Fund | 4,490 | 832 | 1,808 | 61 | (31) | 1,933 | 5,416 |
| Fidelity Series Real Estate Income Fund | 427 | 34 | 50 | 33 | (2) | 137 | 546 |
| Fidelity Series Short-Term Credit Fund | 1,231 | 84 | 2 | 30 | -- | 36 | 1,349 |
| Fidelity Series Small Cap Opportunities Fund | 2,333 | 311 | 1,086 | 65 | (2) | 1,574 | 3,130 |
| Fidelity Series Treasury Bill Index Fund | 5,777 | 240 | 1,640 | 29 | (5) | (18) | 4,354 |
| Fidelity Series Value Discovery Fund | 2,738 | 960 | 920 | 98 | 65 | 1,734 | 4,577 |
| Total | $105,984 | $39,786 | $32,503 | $7,282 | $1,119 | $29,103 | $143,489 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $45,899 | $45,899 | $-- | $-- |
| International Equity Funds | 39,585 | 39,585 | -- | -- |
| Bond Funds | 49,563 | 49,563 | -- | -- |
| Short-Term Funds | 8,442 | 8,442 | -- | -- |
| Total Investments in Securities: | $143,489 | $143,489 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2025 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $126,557) | $143,489 | |
| Total Investment in Securities (cost $126,557) | | $143,489 |
| Receivable for investments sold | | 1,424 |
| Total assets | | 144,913 |
| Liabilities | | |
| Payable for investments purchased | $1,425 | |
| Total liabilities | | 1,425 |
| Net Assets | | $143,488 |
| Net Assets consist of: | | |
| Paid in capital | | $123,572 |
| Total accumulated earnings (loss) | | 19,916 |
| Net Assets | | $143,488 |
| Net Asset Value, offering price and redemption price per share ($143,488 ÷ 12,295 shares) | | $11.67 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $2,053 |
| Expenses | | |
| Independent trustees' fees and expenses | $1 | |
| Total expenses | | 1 |
| Net investment income (loss) | | 2,052 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 1,119 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 5,229 | |
| Total net realized gain (loss) | | 6,348 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 29,103 | |
| Total change in net unrealized appreciation (depreciation) | | 29,103 |
| Net gain (loss) | | 35,451 |
| Net increase (decrease) in net assets resulting from operations | | $37,503 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $2,052 | $2,718 |
| Net realized gain (loss) | 6,348 | 3,073 |
| Change in net unrealized appreciation (depreciation) | 29,103 | (10,567) |
| Net increase (decrease) in net assets resulting from operations | 37,503 | (4,776) |
| Distributions to shareholders | (6,685) | (7,426) |
| Share transactions | | |
| Reinvestment of distributions | 6,685 | 7,426 |
| Net increase (decrease) in net assets resulting from share transactions | 6,685 | 7,426 |
| Total increase (decrease) in net assets | 37,503 | (4,776) |
| Net Assets | | |
| Beginning of period | 105,985 | 110,761 |
| End of period | $143,488 | $105,985 |
| Other Information | | |
| Shares | | |
| Sold | – | – |
| Issued in reinvestment of distributions | 614 | 726 |
| Net increase (decrease) | 614 | 726 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Flex Freedom Blend 2025 Fund
| | | | | |
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $9.07 | $10.11 | $10.44 | $10.00 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .17 | .24 | .24 | .19 |
| Net realized and unrealized gain (loss) | 3.00 | (.61) | .06 | .54 |
| Total from investment operations | 3.17 | (.37) | .30 | .73 |
| Distributions from net investment income | (.18) | (.24) | (.24) | (.16) |
| Distributions from net realized gain | (.39) | (.42) | (.39) | (.13) |
| Total distributions | (.57) | (.67)C | (.63) | (.29) |
| Net asset value, end of period | $11.67 | $9.07 | $10.11 | $10.44 |
| Total ReturnD | 35.43% | (4.34)% | 3.28% | 7.24% |
| Ratios to Average Net AssetsE,F | | | | |
| Expenses before reductions | - %G | - %G | - %G | - %H |
| Expenses net of fee waivers, if any | - %G | - %G | - %G | - %H |
| Expenses net of all reductions | - %G | - %G | - %G | - %H |
| Net investment income (loss) | 1.59% | 2.35% | 2.37% | 2.20%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $143 | $106 | $111 | $107 |
| Portfolio turnover rateI | 25% | 68% | 22% | 14%H |
A For the period June 8, 2017 (commencement of operations) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount represents less than .005%.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2030 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 11.5 |
| Fidelity Series Large Cap Value Index Fund | 10.0 |
| Fidelity Series Blue Chip Growth Fund | 7.6 |
| Fidelity Series Investment Grade Bond Fund | 6.2 |
| Fidelity Series Inflation-Protected Bond Index Fund | 5.6 |
| Fidelity Series Government Bond Index Fund | 5.6 |
| Fidelity Series Large Cap Stock Fund | 5.2 |
| Fidelity Series Large Cap Growth Index Fund | 4.7 |
| Fidelity Series Corporate Bond Fund | 4.5 |
| Fidelity Series Investment Grade Securitized Fund | 4.3 |
| | 65.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 36.5% |
| | International Equity Funds | 30.6% |
| | Bond Funds | 30.8% |
| | Short-Term Funds | 2.1% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Flex® Freedom Blend 2030 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 36.5% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 645 | $11,225 |
| Fidelity Series Commodity Strategy Fund (a) | | 839 | 4,113 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 447 | 7,061 |
| Fidelity Series Large Cap Stock Fund (a) | | 421 | 7,760 |
| Fidelity Series Large Cap Value Index Fund (a) | | 1,006 | 14,782 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 211 | 3,740 |
| Fidelity Series Value Discovery Fund (a) | | 343 | 5,462 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $43,977) | | | 54,143 |
|
| International Equity Funds - 30.6% | | | |
| Fidelity Series Canada Fund (a) | | 201 | 2,572 |
| Fidelity Series Emerging Markets Fund (a) | | 162 | 1,892 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 663 | 17,020 |
| Fidelity Series International Growth Fund (a) | | 353 | 6,326 |
| Fidelity Series International Index Fund (a) | | 226 | 2,641 |
| Fidelity Series International Small Cap Fund (a) | | 110 | 2,282 |
| Fidelity Series International Value Fund (a) | | 582 | 6,319 |
| Fidelity Series Overseas Fund (a) | | 503 | 6,337 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $36,158) | | | 45,389 |
|
| Bond Funds - 30.8% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 619 | 6,713 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 89 | 808 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 27 | 267 |
| Fidelity Series Floating Rate High Income Fund (a) | | 17 | 156 |
| Fidelity Series Government Bond Index Fund (a) | | 791 | 8,278 |
| Fidelity Series High Income Fund (a) | | 100 | 934 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 774 | 8,310 |
| Fidelity Series International Credit Fund (a) | | 7 | 67 |
| Fidelity Series Investment Grade Bond Fund (a) | | 797 | 9,188 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 625 | 6,437 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 513 | 4,054 |
| Fidelity Series Real Estate Income Fund (a) | | 51 | 564 |
| TOTAL BOND FUNDS | | | |
| (Cost $45,993) | | | 45,776 |
|
| Short-Term Funds - 2.1% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 1,026 | 1,026 |
| Fidelity Series Short-Term Credit Fund (a) | | 50 | 505 |
| Fidelity Series Treasury Bill Index Fund (a) | | 163 | 1,632 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $3,159) | | | 3,163 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $129,287) | | | 148,471 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | 0 |
| NET ASSETS - 100% | | | $148,471 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $7,273 | $4,349 | $3,460 | $3,443 | $626 | $2,437 | $11,225 |
| Fidelity Series Canada Fund | 1,868 | 372 | 633 | 50 | (36) | 1,001 | 2,572 |
| Fidelity Series Commodity Strategy Fund | 3,578 | 900 | 1,339 | 15 | (218) | 1,192 | 4,113 |
| Fidelity Series Corporate Bond Fund | 4,132 | 3,220 | 848 | 226 | (15) | 224 | 6,713 |
| Fidelity Series Emerging Markets Debt Fund | 672 | 73 | 23 | 38 | (2) | 88 | 808 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 271 | 3 | 4 | -- | (1) | 267 |
| Fidelity Series Emerging Markets Fund | 993 | 386 | 256 | 26 | 22 | 747 | 1,892 |
| Fidelity Series Emerging Markets Opportunities Fund | 9,262 | 3,510 | 2,574 | 495 | 270 | 6,552 | 17,020 |
| Fidelity Series Floating Rate High Income Fund | 156 | 7 | 30 | 8 | (1) | 24 | 156 |
| Fidelity Series Government Bond Index Fund | 6,382 | 3,560 | 1,094 | 200 | 2 | (572) | 8,278 |
| Fidelity Series Government Money Market Fund 0.08% | 1,109 | 2,122 | 2,205 | 1 | -- | -- | 1,026 |
| Fidelity Series High Income Fund | 787 | 71 | 34 | 49 | (1) | 111 | 934 |
| Fidelity Series Inflation-Protected Bond Index Fund | 5,548 | 2,868 | 507 | 102 | 2 | 399 | 8,310 |
| Fidelity Series International Credit Fund | 60 | 4 | -- | 5 | -- | 3 | 67 |
| Fidelity Series International Growth Fund | 5,450 | 1,636 | 2,021 | 893 | 99 | 1,162 | 6,326 |
| Fidelity Series International Index Fund | 2,084 | 159 | 446 | 50 | (6) | 850 | 2,641 |
| Fidelity Series International Small Cap Fund | 1,651 | 51 | 283 | 19 | 6 | 857 | 2,282 |
| Fidelity Series International Value Fund | 5,206 | 701 | 2,082 | 175 | (198) | 2,692 | 6,319 |
| Fidelity Series Investment Grade Bond Fund | 6,090 | 4,173 | 977 | 477 | (8) | (90) | 9,188 |
| Fidelity Series Investment Grade Securitized Fund | 4,353 | 2,890 | 662 | 171 | (2) | (142) | 6,437 |
| Fidelity Series Large Cap Growth Index Fund | 5,455 | 678 | 2,004 | 218 | 336 | 2,596 | 7,061 |
| Fidelity Series Large Cap Stock Fund | 5,613 | 1,090 | 1,986 | 411 | 164 | 2,879 | 7,760 |
| Fidelity Series Large Cap Value Index Fund | 10,463 | 2,079 | 3,357 | 306 | 90 | 5,507 | 14,782 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2,709 | 2,725 | 420 | 355 | 37 | (997) | 4,054 |
| Fidelity Series Overseas Fund | 5,116 | 894 | 1,865 | 71 | (42) | 2,234 | 6,337 |
| Fidelity Series Real Estate Income Fund | 432 | 32 | 38 | 33 | (1) | 139 | 564 |
| Fidelity Series Short-Term Credit Fund | 202 | 344 | 46 | 5 | -- | 5 | 505 |
| Fidelity Series Small Cap Opportunities Fund | 2,775 | 231 | 1,136 | 77 | 13 | 1,857 | 3,740 |
| Fidelity Series Treasury Bill Index Fund | 2,720 | 243 | 1,320 | 11 | (4) | (7) | 1,632 |
| Fidelity Series Value Discovery Fund | 3,258 | 1,087 | 1,028 | 117 | 71 | 2,074 | 5,462 |
| Total | $105,397 | $40,726 | $32,677 | $8,051 | $1,204 | $33,821 | $148,471 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $54,143 | $54,143 | $-- | $-- |
| International Equity Funds | 45,389 | 45,389 | -- | -- |
| Bond Funds | 45,776 | 45,776 | -- | -- |
| Short-Term Funds | 3,163 | 3,163 | -- | -- |
| Total Investments in Securities: | $148,471 | $148,471 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2030 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $129,287) | $148,471 | |
| Total Investment in Securities (cost $129,287) | | $148,471 |
| Receivable for investments sold | | 1,779 |
| Total assets | | 150,250 |
| Liabilities | | |
| Payable for investments purchased | $1,779 | |
| Total liabilities | | 1,779 |
| Net Assets | | $148,471 |
| Net Assets consist of: | | |
| Paid in capital | | $126,022 |
| Total accumulated earnings (loss) | | 22,449 |
| Net Assets | | $148,471 |
| Net Asset Value, offering price and redemption price per share ($148,471 ÷ 12,534 shares) | | $11.85 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $2,157 |
| Expenses | | |
| Independent trustees' fees and expenses | $1 | |
| Total expenses | | 1 |
| Net investment income (loss) | | 2,156 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 1,204 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 5,894 | |
| Total net realized gain (loss) | | 7,098 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 33,821 | |
| Total change in net unrealized appreciation (depreciation) | | 33,821 |
| Net gain (loss) | | 40,919 |
| Net increase (decrease) in net assets resulting from operations | | $43,075 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $2,156 | $2,766 |
| Net realized gain (loss) | 7,098 | 3,390 |
| Change in net unrealized appreciation (depreciation) | 33,821 | (12,728) |
| Net increase (decrease) in net assets resulting from operations | 43,075 | (6,572) |
| Distributions to shareholders | (7,511) | (8,047) |
| Share transactions | | |
| Reinvestment of distributions | 7,510 | 8,047 |
| Net increase (decrease) in net assets resulting from share transactions | 7,510 | 8,047 |
| Total increase (decrease) in net assets | 43,074 | (6,572) |
| Net Assets | | |
| Beginning of period | 105,397 | 111,969 |
| End of period | $148,471 | $105,397 |
| Other Information | | |
| Shares | | |
| Sold | – | – |
| Issued in reinvestment of distributions | 691 | 788 |
| Net increase (decrease) | 691 | 788 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Flex Freedom Blend 2030 Fund
| | | | | |
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $8.90 | $10.13 | $10.55 | $10.00 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .18 | .24 | .24 | .18 |
| Net realized and unrealized gain (loss) | 3.40 | (.75) | .04 | .68 |
| Total from investment operations | 3.58 | (.51) | .28 | .86 |
| Distributions from net investment income | (.18) | (.24) | (.24) | (.17) |
| Distributions from net realized gain | (.44) | (.47) | (.46) | (.15) |
| Total distributions | (.63)C | (.72)C | (.70) | (.31)C |
| Net asset value, end of period | $11.85 | $8.90 | $10.13 | $10.55 |
| Total ReturnD | 40.91% | (5.88)% | 3.09% | 8.63% |
| Ratios to Average Net AssetsE,F | | | | |
| Expenses before reductions | - %G | - %G | - %G | - %H |
| Expenses net of fee waivers, if any | - %G | - %G | - %G | - %H |
| Expenses net of all reductions | - %G | - %G | - %G | - %H |
| Net investment income (loss) | 1.64% | 2.36% | 2.32% | 2.15%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $148 | $105 | $112 | $109 |
| Portfolio turnover rateI | 25% | 68% | 20% | 15%H |
A For the period June 8, 2017 (commencement of operations) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount represents less than .005%.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2035 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 13.2 |
| Fidelity Series Large Cap Value Index Fund | 12.7 |
| Fidelity Series Blue Chip Growth Fund | 9.6 |
| Fidelity Series Large Cap Stock Fund | 6.6 |
| Fidelity Series Large Cap Growth Index Fund | 6.1 |
| Fidelity Series Overseas Fund | 5.3 |
| Fidelity Series International Growth Fund | 5.3 |
| Fidelity Series International Value Fund | 5.3 |
| Fidelity Series Value Discovery Fund | 4.7 |
| Fidelity Series Small Cap Opportunities Fund | 3.2 |
| | 72.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 45.7% |
| | International Equity Funds | 36.7% |
| | Bond Funds | 16.8% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Flex® Freedom Blend 2035 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 45.7% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 858 | $14,930 |
| Fidelity Series Commodity Strategy Fund (a) | | 877 | 4,295 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 597 | 9,424 |
| Fidelity Series Large Cap Stock Fund (a) | | 558 | 10,296 |
| Fidelity Series Large Cap Value Index Fund (a) | | 1,339 | 19,667 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 281 | 4,975 |
| Fidelity Series Value Discovery Fund (a) | | 456 | 7,267 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $57,738) | | | 70,854 |
|
| International Equity Funds - 36.7% | | | |
| Fidelity Series Canada Fund (a) | | 261 | 3,328 |
| Fidelity Series Emerging Markets Fund (a) | | 194 | 2,269 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 796 | 20,427 |
| Fidelity Series International Growth Fund (a) | | 456 | 8,184 |
| Fidelity Series International Index Fund (a) | | 293 | 3,417 |
| Fidelity Series International Small Cap Fund (a) | | 142 | 2,952 |
| Fidelity Series International Value Fund (a) | | 753 | 8,175 |
| Fidelity Series Overseas Fund (a) | | 650 | 8,197 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $45,934) | | | 56,949 |
|
| Bond Funds - 16.8% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 319 | 3,459 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 93 | 844 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 28 | 279 |
| Fidelity Series Floating Rate High Income Fund (a) | | 18 | 163 |
| Fidelity Series Government Bond Index Fund (a) | | 408 | 4,267 |
| Fidelity Series High Income Fund (a) | | 104 | 976 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 288 | 3,097 |
| Fidelity Series International Credit Fund (a) | | 5 | 55 |
| Fidelity Series Investment Grade Bond Fund (a) | | 411 | 4,736 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 322 | 3,318 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 536 | 4,234 |
| Fidelity Series Real Estate Income Fund (a) | | 53 | 589 |
| TOTAL BOND FUNDS | | | |
| (Cost $26,607) | | | 26,017 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 402 | 402 |
| Fidelity Series Short-Term Credit Fund (a) | | 19 | 198 |
| Fidelity Series Treasury Bill Index Fund (a) | | 64 | 638 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $1,232) | | | 1,238 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $131,511) | | | 155,058 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | 1 |
| NET ASSETS - 100% | | | $155,059 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $9,008 | $5,811 | $3,647 | $4,416 | $625 | $3,133 | $14,930 |
| Fidelity Series Canada Fund | 2,303 | 371 | 539 | 64 | (37) | 1,230 | 3,328 |
| Fidelity Series Commodity Strategy Fund | 3,496 | 1,128 | 1,316 | 16 | (147) | 1,134 | 4,295 |
| Fidelity Series Corporate Bond Fund | 1,695 | 2,560 | 851 | 101 | (12) | 67 | 3,459 |
| Fidelity Series Emerging Markets Debt Fund | 693 | 87 | 24 | 39 | (2) | 90 | 844 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 293 | 10 | 4 | -- | (4) | 279 |
| Fidelity Series Emerging Markets Fund | 1,148 | 437 | 201 | 31 | 20 | 865 | 2,269 |
| Fidelity Series Emerging Markets Opportunities Fund | 10,559 | 4,039 | 1,993 | 581 | 161 | 7,661 | 20,427 |
| Fidelity Series Floating Rate High Income Fund | 158 | 8 | 26 | 8 | (1) | 24 | 163 |
| Fidelity Series Government Bond Index Fund | 2,650 | 2,798 | 908 | 90 | 2 | (275) | 4,267 |
| Fidelity Series Government Money Market Fund 0.08% | 1,016 | 1,310 | 1,924 | 1 | -- | -- | 402 |
| Fidelity Series High Income Fund | 790 | 98 | 23 | 50 | -- | 111 | 976 |
| Fidelity Series Inflation-Protected Bond Index Fund | 2,292 | 1,043 | 391 | 38 | 3 | 150 | 3,097 |
| Fidelity Series International Credit Fund | 49 | 4 | -- | 4 | -- | 2 | 55 |
| Fidelity Series International Growth Fund | 6,404 | 2,142 | 1,864 | 1,129 | 81 | 1,421 | 8,184 |
| Fidelity Series International Index Fund | 2,503 | 226 | 351 | 63 | (11) | 1,050 | 3,417 |
| Fidelity Series International Small Cap Fund | 1,889 | 128 | 104 | 24 | (1) | 1,040 | 2,952 |
| Fidelity Series International Value Fund | 5,979 | 896 | 1,780 | 221 | (148) | 3,228 | 8,175 |
| Fidelity Series Investment Grade Bond Fund | 2,360 | 3,384 | 932 | 214 | (8) | (68) | 4,736 |
| Fidelity Series Investment Grade Securitized Fund | 1,809 | 2,299 | 718 | 77 | (1) | (71) | 3,318 |
| Fidelity Series Large Cap Growth Index Fund | 6,710 | 876 | 1,834 | 277 | 283 | 3,389 | 9,424 |
| Fidelity Series Large Cap Stock Fund | 6,970 | 1,300 | 1,859 | 525 | 168 | 3,717 | 10,296 |
| Fidelity Series Large Cap Value Index Fund | 12,953 | 2,701 | 3,128 | 397 | 128 | 7,013 | 19,667 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2,562 | 3,053 | 395 | 362 | 10 | (996) | 4,234 |
| Fidelity Series Overseas Fund | 6,112 | 1,037 | 1,622 | 90 | (65) | 2,735 | 8,197 |
| Fidelity Series Real Estate Income Fund | 435 | 37 | 22 | 34 | (1) | 140 | 589 |
| Fidelity Series Short-Term Credit Fund | 204 | 5 | 17 | 5 | -- | 6 | 198 |
| Fidelity Series Small Cap Opportunities Fund | 3,453 | 323 | 1,194 | 100 | 27 | 2,366 | 4,975 |
| Fidelity Series Treasury Bill Index Fund | 2,719 | 12 | 2,082 | 11 | (5) | (6) | 638 |
| Fidelity Series Value Discovery Fund | 4,051 | 1,292 | 821 | 152 | 81 | 2,664 | 7,267 |
| Total | $102,970 | $39,698 | $30,576 | $9,124 | $1,150 | $41,816 | $155,058 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $70,854 | $70,854 | $-- | $-- |
| International Equity Funds | 56,949 | 56,949 | -- | -- |
| Bond Funds | 26,017 | 26,017 | -- | -- |
| Short-Term Funds | 1,238 | 1,238 | -- | -- |
| Total Investments in Securities: | $155,058 | $155,058 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2035 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $131,511) | $155,058 | |
| Total Investment in Securities (cost $131,511) | | $155,058 |
| Receivable for investments sold | | 2,102 |
| Total assets | | 157,160 |
| Liabilities | | |
| Payable for investments purchased | $2,101 | |
| Total liabilities | | 2,101 |
| Net Assets | | $155,059 |
| Net Assets consist of: | | |
| Paid in capital | | $127,851 |
| Total accumulated earnings (loss) | | 27,208 |
| Net Assets | | $155,059 |
| Net Asset Value, offering price and redemption price per share ($155,059 ÷ 12,702 shares) | | $12.21 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $2,243 |
| Expenses | | |
| Independent trustees' fees and expenses | $1 | |
| Total expenses | | 1 |
| Net investment income (loss) | | 2,242 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 1,150 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 6,881 | |
| Total net realized gain (loss) | | 8,031 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 41,816 | |
| Total change in net unrealized appreciation (depreciation) | | 41,816 |
| Net gain (loss) | | 49,847 |
| Net increase (decrease) in net assets resulting from operations | | $52,089 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $2,242 | $2,740 |
| Net realized gain (loss) | 8,031 | 3,393 |
| Change in net unrealized appreciation (depreciation) | 41,816 | (15,899) |
| Net increase (decrease) in net assets resulting from operations | 52,089 | (9,766) |
| Distributions to shareholders | (8,194) | (8,597) |
| Share transactions | | |
| Reinvestment of distributions | 8,194 | 8,597 |
| Net increase (decrease) in net assets resulting from share transactions | 8,194 | 8,597 |
| Total increase (decrease) in net assets | 52,089 | (9,766) |
| Net Assets | | |
| Beginning of period | 102,970 | 112,736 |
| End of period | $155,059 | $102,970 |
| Other Information | | |
| Shares | | |
| Sold | – | – |
| Issued in reinvestment of distributions | 747 | 843 |
| Net increase (decrease) | 747 | 843 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Flex Freedom Blend 2035 Fund
| | | | | |
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $8.61 | $10.15 | $10.65 | $10.00 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .18 | .24 | .22 | .17 |
| Net realized and unrealized gain (loss) | 4.10 | (1.02) | .02 | .81 |
| Total from investment operations | 4.28 | (.78) | .24 | .98 |
| Distributions from net investment income | (.18) | (.24) | (.22) | (.16) |
| Distributions from net realized gain | (.49) | (.52) | (.52) | (.16) |
| Total distributions | (.68)C | (.76) | (.74) | (.33)C |
| Net asset value, end of period | $12.21 | $8.61 | $10.15 | $10.65 |
| Total ReturnD | 50.67% | (8.74)% | 2.75% | 9.77% |
| Ratios to Average Net AssetsE,F | | | | |
| Expenses before reductions | - %G | - %G | - %G | - %H |
| Expenses net of fee waivers, if any | - %G | - %G | - %G | - %H |
| Expenses net of all reductions | - %G | - %G | - %G | - %H |
| Net investment income (loss) | 1.68% | 2.32% | 2.16% | 2.02%H |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $155 | $103 | $113 | $110 |
| Portfolio turnover rateI | 23% | 65% | 20% | 14%H |
A For the period June 8, 2017 (commencement of operations) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount represents less than .005%.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2040 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Large Cap Value Index Fund | 14.5 |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Blue Chip Growth Fund | 11.0 |
| Fidelity Series Large Cap Stock Fund | 7.6 |
| Fidelity Series Large Cap Growth Index Fund | 6.9 |
| Fidelity Series Overseas Fund | 6.0 |
| Fidelity Series International Value Fund | 6.0 |
| Fidelity Series International Growth Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 5.3 |
| Fidelity Series Small Cap Opportunities Fund | 3.7 |
| | 81.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Flex® Freedom Blend 2040 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 51.8% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 1,000 | $17,406 |
| Fidelity Series Commodity Strategy Fund (a) | | 895 | 4,388 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 696 | 10,983 |
| Fidelity Series Large Cap Stock Fund (a) | | 651 | 12,008 |
| Fidelity Series Large Cap Value Index Fund (a) | | 1,561 | 22,938 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 328 | 5,814 |
| Fidelity Series Value Discovery Fund (a) | | 532 | 8,475 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $66,977) | | | 82,012 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 300 | 3,830 |
| Fidelity Series Emerging Markets Fund (a) | | 215 | 2,515 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 882 | 22,634 |
| Fidelity Series International Growth Fund (a) | | 525 | 9,418 |
| Fidelity Series International Index Fund (a) | | 337 | 3,932 |
| Fidelity Series International Small Cap Fund (a) | | 163 | 3,368 |
| Fidelity Series International Value Fund (a) | | 869 | 9,431 |
| Fidelity Series Overseas Fund (a) | | 748 | 9,434 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $52,475) | | | 64,562 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 1 | 16 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 95 | 863 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 29 | 286 |
| Fidelity Series Floating Rate High Income Fund (a) | | 18 | 168 |
| Fidelity Series Government Bond Index Fund (a) | | 2 | 20 |
| Fidelity Series High Income Fund (a) | | 106 | 999 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 294 | 3,157 |
| Fidelity Series International Credit Fund (a) | | 6 | 55 |
| Fidelity Series Investment Grade Bond Fund (a) | | 2 | 22 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 1 | 15 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 548 | 4,326 |
| Fidelity Series Real Estate Income Fund (a) | | 54 | 602 |
| TOTAL BOND FUNDS | | | |
| (Cost $10,988) | | | 10,529 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 410 | 410 |
| Fidelity Series Short-Term Credit Fund (a) | | 20 | 202 |
| Fidelity Series Treasury Bill Index Fund (a) | | 65 | 652 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $1,258) | | | 1,264 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $131,698) | | | 158,367 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (2) |
| NET ASSETS - 100% | | | $158,365 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $9,836 | $6,809 | $3,329 | $4,994 | $561 | $3,529 | $17,406 |
| Fidelity Series Canada Fund | 2,317 | 567 | 371 | 72 | (31) | 1,348 | 3,830 |
| Fidelity Series Commodity Strategy Fund | 3,433 | 1,107 | 1,130 | 16 | (174) | 1,152 | 4,388 |
| Fidelity Series Corporate Bond Fund | -- | 17 | -- | -- | -- | (1) | 16 |
| Fidelity Series Emerging Markets Debt Fund | 702 | 147 | 73 | 40 | (7) | 94 | 863 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 299 | 9 | 4 | -- | (4) | 286 |
| Fidelity Series Emerging Markets Fund | 1,220 | 506 | 154 | 33 | 13 | 930 | 2,515 |
| Fidelity Series Emerging Markets Opportunities Fund | 11,225 | 4,444 | 1,390 | 632 | 87 | 8,268 | 22,634 |
| Fidelity Series Floating Rate High Income Fund | 157 | 11 | 22 | 8 | (1) | 23 | 168 |
| Fidelity Series Government Bond Index Fund | -- | 21 | -- | -- | -- | (1) | 20 |
| Fidelity Series Government Money Market Fund 0.08% | 958 | 1,319 | 1,867 | 1 | -- | -- | 410 |
| Fidelity Series High Income Fund | 776 | 153 | 39 | 50 | (1) | 110 | 999 |
| Fidelity Series Inflation-Protected Bond Index Fund | 2,307 | 1,156 | 457 | 38 | 1 | 150 | 3,157 |
| Fidelity Series International Credit Fund | 49 | 4 | -- | 4 | -- | 2 | 55 |
| Fidelity Series International Growth Fund | 6,847 | 2,610 | 1,644 | 1,268 | 27 | 1,578 | 9,418 |
| Fidelity Series International Index Fund | 2,700 | 314 | 227 | 71 | (8) | 1,153 | 3,932 |
| Fidelity Series International Small Cap Fund | 2,052 | 248 | 76 | 27 | (1) | 1,145 | 3,368 |
| Fidelity Series International Value Fund | 6,618 | 958 | 1,551 | 249 | (126) | 3,532 | 9,431 |
| Fidelity Series Investment Grade Bond Fund | -- | 22 | -- | -- | -- | -- | 22 |
| Fidelity Series Investment Grade Securitized Fund | -- | 15 | -- | -- | -- | -- | 15 |
| Fidelity Series Large Cap Growth Index Fund | 7,400 | 1,211 | 1,691 | 310 | 260 | 3,803 | 10,983 |
| Fidelity Series Large Cap Stock Fund | 7,687 | 1,578 | 1,630 | 590 | 142 | 4,231 | 12,008 |
| Fidelity Series Large Cap Value Index Fund | 14,213 | 3,442 | 2,733 | 453 | 132 | 7,884 | 22,938 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2,583 | 3,404 | 666 | 363 | 14 | (1,009) | 4,326 |
| Fidelity Series Overseas Fund | 6,558 | 1,263 | 1,314 | 101 | (51) | 2,978 | 9,434 |
| Fidelity Series Real Estate Income Fund | 433 | 50 | 19 | 33 | (1) | 139 | 602 |
| Fidelity Series Short-Term Credit Fund | 204 | 5 | 13 | 5 | -- | 6 | 202 |
| Fidelity Series Small Cap Opportunities Fund | 3,607 | 595 | 1,046 | 113 | 3 | 2,655 | 5,814 |
| Fidelity Series Treasury Bill Index Fund | 2,708 | 12 | 2,057 | 11 | (5) | (6) | 652 |
| Fidelity Series Value Discovery Fund | 4,499 | 1,632 | 752 | 173 | 84 | 3,012 | 8,475 |
| Total | $101,089 | $33,919 | $24,260 | $9,659 | $918 | $46,701 | $158,367 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $82,012 | $82,012 | $-- | $-- |
| International Equity Funds | 64,562 | 64,562 | -- | -- |
| Bond Funds | 10,529 | 10,529 | -- | -- |
| Short-Term Funds | 1,264 | 1,264 | -- | -- |
| Total Investments in Securities: | $158,367 | $158,367 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2040 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $131,698) | $158,367 | |
| Total Investment in Securities (cost $131,698) | | $158,367 |
| Receivable for investments sold | | 1,731 |
| Total assets | | 160,098 |
| Liabilities | | |
| Payable for investments purchased | $1,733 | |
| Total liabilities | | 1,733 |
| Net Assets | | $158,365 |
| Net Assets consist of: | | |
| Paid in capital | | $127,899 |
| Total accumulated earnings (loss) | | 30,466 |
| Net Assets | | $158,365 |
| Net Asset Value, offering price and redemption price per share ($158,365 ÷ 12,706 shares) | | $12.46 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $2,236 |
| Expenses | | |
| Independent trustees' fees and expenses | $1 | |
| Total expenses | | 1 |
| Net investment income (loss) | | 2,235 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 918 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 7,423 | |
| Total net realized gain (loss) | | 8,341 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 46,701 | |
| Total change in net unrealized appreciation (depreciation) | | 46,701 |
| Net gain (loss) | | 55,042 |
| Net increase (decrease) in net assets resulting from operations | | $57,277 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $2,235 | $2,705 |
| Net realized gain (loss) | 8,341 | 2,975 |
| Change in net unrealized appreciation (depreciation) | 46,701 | (17,265) |
| Net increase (decrease) in net assets resulting from operations | 57,277 | (11,585) |
| Distributions to shareholders | (8,303) | (8,422) |
| Share transactions | | |
| Reinvestment of distributions | 8,302 | 8,422 |
| Net increase (decrease) in net assets resulting from share transactions | 8,302 | 8,422 |
| Total increase (decrease) in net assets | 57,276 | (11,585) |
| Net Assets | | |
| Beginning of period | 101,089 | 112,674 |
| End of period | $158,365 | $101,089 |
| Other Information | | |
| Shares | | |
| Sold | – | – |
| Issued in reinvestment of distributions | 751 | 828 |
| Net increase (decrease) | 751 | 828 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Flex Freedom Blend 2040 Fund
| | | | | |
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $8.46 | $10.13 | $10.66 | $10.00 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .18 | .23 | .22 | .17 |
| Net realized and unrealized gain (loss) | 4.51 | (1.16) | –C | .82 |
| Total from investment operations | 4.69 | (.93) | .22 | .99 |
| Distributions from net investment income | (.18) | (.24) | (.22) | (.17) |
| Distributions from net realized gain | (.50) | (.51) | (.53) | (.17) |
| Total distributions | (.69)D | (.74)D | (.75) | (.33)D |
| Net asset value, end of period | $12.46 | $8.46 | $10.13 | $10.66 |
| Total ReturnE | 56.53% | (10.27)% | 2.57% | 9.89% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | - %H | - %H | - %H | - %I |
| Expenses net of fee waivers, if any | - %H | - %H | - %H | - %I |
| Expenses net of all reductions | - %H | - %H | - %H | - %I |
| Net investment income (loss) | 1.67% | 2.30% | 2.13% | 2.01%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $158 | $101 | $113 | $110 |
| Portfolio turnover rateJ | 18% | 61% | 20% | 13%I |
A For the period June 8, 2017 (commencement of operations) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Amount represents less than .005%.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2045 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Large Cap Value Index Fund | 14.5 |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Blue Chip Growth Fund | 11.0 |
| Fidelity Series Large Cap Stock Fund | 7.6 |
| Fidelity Series Large Cap Growth Index Fund | 6.9 |
| Fidelity Series Overseas Fund | 6.0 |
| Fidelity Series International Value Fund | 6.0 |
| Fidelity Series International Growth Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 5.3 |
| Fidelity Series Small Cap Opportunities Fund | 3.7 |
| | 81.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Flex® Freedom Blend 2045 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 51.8% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 1,000 | $17,406 |
| Fidelity Series Commodity Strategy Fund (a) | | 895 | 4,388 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 696 | 10,984 |
| Fidelity Series Large Cap Stock Fund (a) | | 651 | 12,008 |
| Fidelity Series Large Cap Value Index Fund (a) | | 1,562 | 22,940 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 328 | 5,814 |
| Fidelity Series Value Discovery Fund (a) | | 532 | 8,475 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $66,984) | | | 82,015 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 300 | 3,830 |
| Fidelity Series Emerging Markets Fund (a) | | 215 | 2,515 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 882 | 22,635 |
| Fidelity Series International Growth Fund (a) | | 525 | 9,419 |
| Fidelity Series International Index Fund (a) | | 337 | 3,932 |
| Fidelity Series International Small Cap Fund (a) | | 163 | 3,367 |
| Fidelity Series International Value Fund (a) | | 869 | 9,432 |
| Fidelity Series Overseas Fund (a) | | 748 | 9,434 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $52,438) | | | 64,564 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 1 | 16 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 95 | 863 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 29 | 286 |
| Fidelity Series Floating Rate High Income Fund (a) | | 18 | 168 |
| Fidelity Series Government Bond Index Fund (a) | | 2 | 20 |
| Fidelity Series High Income Fund (a) | | 106 | 999 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 294 | 3,157 |
| Fidelity Series International Credit Fund (a) | | 6 | 55 |
| Fidelity Series Investment Grade Bond Fund (a) | | 2 | 22 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 1 | 15 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 548 | 4,326 |
| Fidelity Series Real Estate Income Fund (a) | | 54 | 602 |
| TOTAL BOND FUNDS | | | |
| (Cost $10,986) | | | 10,529 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 410 | 410 |
| Fidelity Series Short-Term Credit Fund (a) | | 20 | 202 |
| Fidelity Series Treasury Bill Index Fund (a) | | 65 | 652 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $1,258) | | | 1,264 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $131,666) | | | 158,372 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | 0 |
| NET ASSETS - 100% | | | $158,372 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $9,836 | $6,857 | $3,375 | $4,993 | $548 | $3,540 | $17,406 |
| Fidelity Series Canada Fund | 2,431 | 461 | 383 | 72 | (28) | 1,349 | 3,830 |
| Fidelity Series Commodity Strategy Fund | 3,433 | 1,106 | 1,130 | 16 | (172) | 1,151 | 4,388 |
| Fidelity Series Corporate Bond Fund | -- | 17 | -- | -- | -- | (1) | 16 |
| Fidelity Series Emerging Markets Debt Fund | 698 | 148 | 69 | 40 | (7) | 93 | 863 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 299 | 9 | 4 | -- | (4) | 286 |
| Fidelity Series Emerging Markets Fund | 1,220 | 506 | 154 | 33 | 13 | 930 | 2,515 |
| Fidelity Series Emerging Markets Opportunities Fund | 11,227 | 4,454 | 1,399 | 632 | 85 | 8,268 | 22,635 |
| Fidelity Series Floating Rate High Income Fund | 157 | 11 | 22 | 8 | (1) | 23 | 168 |
| Fidelity Series Government Bond Index Fund | -- | 21 | -- | -- | -- | (1) | 20 |
| Fidelity Series Government Money Market Fund 0.08% | 957 | 1,319 | 1,866 | 1 | -- | -- | 410 |
| Fidelity Series High Income Fund | 776 | 153 | 39 | 50 | (1) | 110 | 999 |
| Fidelity Series Inflation-Protected Bond Index Fund | 2,308 | 1,155 | 457 | 38 | 1 | 150 | 3,157 |
| Fidelity Series International Credit Fund | 49 | 4 | -- | 4 | -- | 2 | 55 |
| Fidelity Series International Growth Fund | 6,838 | 2,665 | 1,686 | 1,268 | 34 | 1,568 | 9,419 |
| Fidelity Series International Index Fund | 2,700 | 333 | 247 | 72 | (12) | 1,158 | 3,932 |
| Fidelity Series International Small Cap Fund | 2,018 | 274 | 66 | 27 | -- | 1,141 | 3,367 |
| Fidelity Series International Value Fund | 6,577 | 1,108 | 1,666 | 249 | (143) | 3,556 | 9,432 |
| Fidelity Series Investment Grade Bond Fund | -- | 22 | -- | -- | -- | -- | 22 |
| Fidelity Series Investment Grade Securitized Fund | -- | 15 | -- | -- | -- | -- | 15 |
| Fidelity Series Large Cap Growth Index Fund | 7,401 | 1,146 | 1,627 | 310 | 255 | 3,809 | 10,984 |
| Fidelity Series Large Cap Stock Fund | 7,687 | 1,673 | 1,730 | 590 | 144 | 4,234 | 12,008 |
| Fidelity Series Large Cap Value Index Fund | 14,215 | 3,440 | 2,733 | 453 | 134 | 7,884 | 22,940 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2,583 | 3,405 | 667 | 363 | 14 | (1,009) | 4,326 |
| Fidelity Series Overseas Fund | 6,538 | 1,256 | 1,283 | 101 | (51) | 2,974 | 9,434 |
| Fidelity Series Real Estate Income Fund | 432 | 51 | 19 | 33 | (1) | 139 | 602 |
| Fidelity Series Short-Term Credit Fund | 204 | 5 | 13 | 5 | -- | 6 | 202 |
| Fidelity Series Small Cap Opportunities Fund | 3,608 | 586 | 1,034 | 113 | 2 | 2,652 | 5,814 |
| Fidelity Series Treasury Bill Index Fund | 2,708 | 13 | 2,058 | 11 | (5) | (6) | 652 |
| Fidelity Series Value Discovery Fund | 4,499 | 1,596 | 709 | 173 | 88 | 3,001 | 8,475 |
| Total | $101,100 | $34,099 | $24,441 | $9,659 | $897 | $46,717 | $158,372 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $82,015 | $82,015 | $-- | $-- |
| International Equity Funds | 64,564 | 64,564 | -- | -- |
| Bond Funds | 10,529 | 10,529 | -- | -- |
| Short-Term Funds | 1,264 | 1,264 | -- | -- |
| Total Investments in Securities: | $158,372 | $158,372 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2045 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $131,666) | $158,372 | |
| Total Investment in Securities (cost $131,666) | | $158,372 |
| Receivable for investments sold | | 1,731 |
| Total assets | | 160,103 |
| Liabilities | | |
| Payable for investments purchased | $1,731 | |
| Total liabilities | | 1,731 |
| Net Assets | | $158,372 |
| Net Assets consist of: | | |
| Paid in capital | | $127,840 |
| Total accumulated earnings (loss) | | 30,532 |
| Net Assets | | $158,372 |
| Net Asset Value, offering price and redemption price per share ($158,372 ÷ 12,700 shares) | | $12.47 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $2,236 |
| Expenses | | |
| Independent trustees' fees and expenses | $1 | |
| Total expenses | | 1 |
| Net investment income (loss) | | 2,235 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 897 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 7,423 | |
| Total net realized gain (loss) | | 8,320 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 46,717 | |
| Total change in net unrealized appreciation (depreciation) | | 46,717 |
| Net gain (loss) | | 55,037 |
| Net increase (decrease) in net assets resulting from operations | | $57,272 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $2,235 | $2,704 |
| Net realized gain (loss) | 8,320 | 2,962 |
| Change in net unrealized appreciation (depreciation) | 46,717 | (17,257) |
| Net increase (decrease) in net assets resulting from operations | 57,272 | (11,591) |
| Distributions to shareholders | (8,230) | (8,434) |
| Share transactions | | |
| Reinvestment of distributions | 8,230 | 8,434 |
| Net increase (decrease) in net assets resulting from share transactions | 8,230 | 8,434 |
| Total increase (decrease) in net assets | 57,272 | (11,591) |
| Net Assets | | |
| Beginning of period | 101,100 | 112,691 |
| End of period | $158,372 | $101,100 |
| Other Information | | |
| Shares | | |
| Sold | – | – |
| Issued in reinvestment of distributions | 744 | 829 |
| Net increase (decrease) | 744 | 829 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Flex Freedom Blend 2045 Fund
| | | | | |
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $8.46 | $10.13 | $10.66 | $10.00 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .18 | .23 | .22 | .17 |
| Net realized and unrealized gain (loss) | 4.51 | (1.16) | –C | .82 |
| Total from investment operations | 4.69 | (.93) | .22 | .99 |
| Distributions from net investment income | (.19) | (.23) | (.22) | (.17) |
| Distributions from net realized gain | (.49) | (.51) | (.53) | (.17) |
| Total distributions | (.68) | (.74) | (.75) | (.33)D |
| Net asset value, end of period | $12.47 | $8.46 | $10.13 | $10.66 |
| Total ReturnE | 56.58% | (10.26)% | 2.55% | 9.91% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | - %H | - %H | - %H | - %I |
| Expenses net of fee waivers, if any | - %H | - %H | - %H | - %I |
| Expenses net of all reductions | - %H | - %H | - %H | - %I |
| Net investment income (loss) | 1.67% | 2.30% | 2.13% | 2.00%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $158 | $101 | $113 | $110 |
| Portfolio turnover rateJ | 18% | 61% | 20% | 13%I |
A For the period June 8, 2017 (commencement of operations) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Amount represents less than .005%.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2050 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Large Cap Value Index Fund | 14.5 |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Blue Chip Growth Fund | 11.0 |
| Fidelity Series Large Cap Stock Fund | 7.6 |
| Fidelity Series Large Cap Growth Index Fund | 6.9 |
| Fidelity Series Overseas Fund | 6.0 |
| Fidelity Series International Value Fund | 6.0 |
| Fidelity Series International Growth Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 5.3 |
| Fidelity Series Small Cap Opportunities Fund | 3.7 |
| | 81.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Flex® Freedom Blend 2050 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 51.8% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 1,000 | $17,418 |
| Fidelity Series Commodity Strategy Fund (a) | | 896 | 4,391 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 697 | 10,991 |
| Fidelity Series Large Cap Stock Fund (a) | | 651 | 12,017 |
| Fidelity Series Large Cap Value Index Fund (a) | | 1,563 | 22,954 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 328 | 5,818 |
| Fidelity Series Value Discovery Fund (a) | | 533 | 8,481 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $67,006) | | | 82,070 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 300 | 3,832 |
| Fidelity Series Emerging Markets Fund (a) | | 215 | 2,517 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 883 | 22,651 |
| Fidelity Series International Growth Fund (a) | | 525 | 9,425 |
| Fidelity Series International Index Fund (a) | | 337 | 3,935 |
| Fidelity Series International Small Cap Fund (a) | | 163 | 3,370 |
| Fidelity Series International Value Fund (a) | | 870 | 9,439 |
| Fidelity Series Overseas Fund (a) | | 749 | 9,441 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $52,509) | | | 64,610 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 1 | 16 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 95 | 864 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 29 | 287 |
| Fidelity Series Floating Rate High Income Fund (a) | | 18 | 168 |
| Fidelity Series Government Bond Index Fund (a) | | 2 | 20 |
| Fidelity Series High Income Fund (a) | | 107 | 1,000 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 294 | 3,159 |
| Fidelity Series International Credit Fund (a) | | 6 | 55 |
| Fidelity Series Investment Grade Bond Fund (a) | | 2 | 22 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 1 | 15 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 548 | 4,329 |
| Fidelity Series Real Estate Income Fund (a) | | 55 | 602 |
| TOTAL BOND FUNDS | | | |
| (Cost $10,993) | | | 10,537 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 411 | 411 |
| Fidelity Series Short-Term Credit Fund (a) | | 20 | 202 |
| Fidelity Series Treasury Bill Index Fund (a) | | 65 | 652 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $1,259) | | | 1,265 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $131,767) | | | 158,482 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | 0 |
| NET ASSETS - 100% | | | $158,482 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $9,835 | $6,948 | $3,438 | $4,992 | $542 | $3,531 | $17,418 |
| Fidelity Series Canada Fund | 2,357 | 560 | 405 | 72 | (30) | 1,350 | 3,832 |
| Fidelity Series Commodity Strategy Fund | 3,432 | 1,110 | 1,130 | 16 | (172) | 1,151 | 4,391 |
| Fidelity Series Corporate Bond Fund | -- | 17 | -- | -- | -- | (1) | 16 |
| Fidelity Series Emerging Markets Debt Fund | 698 | 148 | 68 | 40 | (7) | 93 | 864 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 300 | 9 | 4 | -- | (4) | 287 |
| Fidelity Series Emerging Markets Fund | 1,220 | 507 | 153 | 33 | 14 | 929 | 2,517 |
| Fidelity Series Emerging Markets Opportunities Fund | 11,225 | 4,480 | 1,409 | 632 | 83 | 8,272 | 22,651 |
| Fidelity Series Floating Rate High Income Fund | 157 | 11 | 22 | 8 | (1) | 23 | 168 |
| Fidelity Series Government Bond Index Fund | -- | 21 | -- | -- | -- | (1) | 20 |
| Fidelity Series Government Money Market Fund 0.08% | 958 | 1,319 | 1,866 | 1 | -- | -- | 411 |
| Fidelity Series High Income Fund | 776 | 155 | 39 | 50 | (1) | 109 | 1,000 |
| Fidelity Series Inflation-Protected Bond Index Fund | 2,307 | 1,158 | 456 | 38 | -- | 150 | 3,159 |
| Fidelity Series International Credit Fund | 49 | 4 | -- | 4 | -- | 2 | 55 |
| Fidelity Series International Growth Fund | 6,837 | 2,747 | 1,763 | 1,268 | 37 | 1,567 | 9,425 |
| Fidelity Series International Index Fund | 2,700 | 314 | 224 | 71 | (8) | 1,153 | 3,935 |
| Fidelity Series International Small Cap Fund | 2,052 | 270 | 95 | 27 | (2) | 1,145 | 3,370 |
| Fidelity Series International Value Fund | 6,541 | 1,024 | 1,536 | 249 | (128) | 3,538 | 9,439 |
| Fidelity Series Investment Grade Bond Fund | -- | 22 | -- | -- | -- | -- | 22 |
| Fidelity Series Investment Grade Securitized Fund | -- | 15 | -- | -- | -- | -- | 15 |
| Fidelity Series Large Cap Growth Index Fund | 7,400 | 1,254 | 1,729 | 310 | 264 | 3,802 | 10,991 |
| Fidelity Series Large Cap Stock Fund | 7,686 | 1,685 | 1,730 | 590 | 139 | 4,237 | 12,017 |
| Fidelity Series Large Cap Value Index Fund | 14,209 | 3,439 | 2,708 | 453 | 127 | 7,887 | 22,954 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2,583 | 3,407 | 667 | 362 | 14 | (1,008) | 4,329 |
| Fidelity Series Overseas Fund | 6,609 | 1,220 | 1,312 | 101 | (53) | 2,977 | 9,441 |
| Fidelity Series Real Estate Income Fund | 434 | 49 | 19 | 33 | (1) | 139 | 602 |
| Fidelity Series Short-Term Credit Fund | 204 | 5 | 13 | 5 | -- | 6 | 202 |
| Fidelity Series Small Cap Opportunities Fund | 3,608 | 779 | 1,228 | 113 | (24) | 2,683 | 5,818 |
| Fidelity Series Treasury Bill Index Fund | 2,708 | 12 | 2,057 | 11 | (5) | (6) | 652 |
| Fidelity Series Value Discovery Fund | 4,499 | 1,669 | 778 | 173 | 84 | 3,007 | 8,481 |
| Total | $101,084 | $34,649 | $24,854 | $9,656 | $872 | $46,731 | $158,482 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $82,070 | $82,070 | $-- | $-- |
| International Equity Funds | 64,610 | 64,610 | -- | -- |
| Bond Funds | 10,537 | 10,537 | -- | -- |
| Short-Term Funds | 1,265 | 1,265 | -- | -- |
| Total Investments in Securities: | $158,482 | $158,482 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2050 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $131,767) | $158,482 | |
| Total Investment in Securities (cost $131,767) | | $158,482 |
| Receivable for investments sold | | 1,682 |
| Receivable for fund shares sold | | 140 |
| Total assets | | 160,304 |
| Liabilities | | |
| Payable for investments purchased | $1,822 | |
| Total liabilities | | 1,822 |
| Net Assets | | $158,482 |
| Net Assets consist of: | | |
| Paid in capital | | $128,016 |
| Total accumulated earnings (loss) | | 30,466 |
| Net Assets | | $158,482 |
| Net Asset Value, offering price and redemption price per share ($158,482 ÷ 12,714.3 shares) | | $12.46 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $2,235 |
| Expenses | | |
| Independent trustees' fees and expenses | $1 | |
| Total expenses | | 1 |
| Net investment income (loss) | | 2,234 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 872 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 7,421 | |
| Total net realized gain (loss) | | 8,293 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 46,731 | |
| Total change in net unrealized appreciation (depreciation) | | 46,731 |
| Net gain (loss) | | 55,024 |
| Net increase (decrease) in net assets resulting from operations | | $57,258 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $2,234 | $2,705 |
| Net realized gain (loss) | 8,293 | 2,961 |
| Change in net unrealized appreciation (depreciation) | 46,731 | (17,258) |
| Net increase (decrease) in net assets resulting from operations | 57,258 | (11,592) |
| Distributions to shareholders | (8,277) | (8,443) |
| Share transactions | | |
| Proceeds from sales of shares | 140 | – |
| Reinvestment of distributions | 8,277 | 8,443 |
| Net increase (decrease) in net assets resulting from share transactions | 8,417 | 8,443 |
| Total increase (decrease) in net assets | 57,398 | (11,592) |
| Net Assets | | |
| Beginning of period | 101,084 | 112,676 |
| End of period | $158,482 | $101,084 |
| Other Information | | |
| Shares | | |
| Sold | 11 | – |
| Issued in reinvestment of distributions | 748 | 830 |
| Net increase (decrease) | 759 | 830 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Flex Freedom Blend 2050 Fund
| | | | | |
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $8.46 | $10.13 | $10.66 | $10.00 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .18 | .23 | .22 | .17 |
| Net realized and unrealized gain (loss) | 4.50 | (1.15) | –C | .82 |
| Total from investment operations | 4.68 | (.92) | .22 | .99 |
| Distributions from net investment income | (.18) | (.23) | (.22) | (.17) |
| Distributions from net realized gain | (.50) | (.51) | (.53) | (.16) |
| Total distributions | (.68) | (.75)D | (.75) | (.33) |
| Net asset value, end of period | $12.46 | $8.46 | $10.13 | $10.66 |
| Total ReturnE | 56.50% | (10.25)% | 2.55% | 9.89% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | - %H | - %H | - %H | - %I |
| Expenses net of fee waivers, if any | - %H | - %H | - %H | - %I |
| Expenses net of all reductions | - %H | - %H | - %H | - %I |
| Net investment income (loss) | 1.67% | 2.30% | 2.13% | 2.00%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $158 | $101 | $113 | $110 |
| Portfolio turnover rateJ | 19% | 61% | 20% | 13%I |
A For the period June 8, 2017 (commencement of operations) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Amount represents less than .005%.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2055 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Large Cap Value Index Fund | 14.5 |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Blue Chip Growth Fund | 11.0 |
| Fidelity Series Large Cap Stock Fund | 7.6 |
| Fidelity Series Large Cap Growth Index Fund | 6.9 |
| Fidelity Series International Value Fund | 6.0 |
| Fidelity Series Overseas Fund | 6.0 |
| Fidelity Series International Growth Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 5.3 |
| Fidelity Series Small Cap Opportunities Fund | 3.7 |
| | 81.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Flex® Freedom Blend 2055 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 51.8% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 1,000 | $17,410 |
| Fidelity Series Commodity Strategy Fund (a) | | 896 | 4,390 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 696 | 10,986 |
| Fidelity Series Large Cap Stock Fund (a) | | 651 | 12,011 |
| Fidelity Series Large Cap Value Index Fund (a) | | 1,562 | 22,946 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 328 | 5,815 |
| Fidelity Series Value Discovery Fund (a) | | 532 | 8,477 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $67,021) | | | 82,035 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 300 | 3,831 |
| Fidelity Series Emerging Markets Fund (a) | | 215 | 2,516 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 882 | 22,641 |
| Fidelity Series International Growth Fund (a) | | 523 | 9,385 |
| Fidelity Series International Index Fund (a) | | 337 | 3,933 |
| Fidelity Series International Small Cap Fund (a) | | 163 | 3,380 |
| Fidelity Series International Value Fund (a) | | 872 | 9,461 |
| Fidelity Series Overseas Fund (a) | | 748 | 9,437 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $52,465) | | | 64,584 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 1 | 16 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 95 | 864 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 29 | 287 |
| Fidelity Series Floating Rate High Income Fund (a) | | 18 | 170 |
| Fidelity Series Government Bond Index Fund (a) | | 2 | 20 |
| Fidelity Series High Income Fund (a) | | 107 | 1,001 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 294 | 3,159 |
| Fidelity Series International Credit Fund (a) | | 4 | 41 |
| Fidelity Series Investment Grade Bond Fund (a) | | 2 | 23 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 1 | 15 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 548 | 4,329 |
| Fidelity Series Real Estate Income Fund (a) | | 54 | 602 |
| TOTAL BOND FUNDS | | | |
| (Cost $10,985) | | | 10,527 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 410 | 410 |
| Fidelity Series Short-Term Credit Fund (a) | | 20 | 202 |
| Fidelity Series Treasury Bill Index Fund (a) | | 65 | 652 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $1,258) | | | 1,264 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $131,729) | | | 158,410 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | 1 |
| NET ASSETS - 100% | | | $158,411 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $9,837 | $6,819 | $3,339 | $4,993 | $553 | $3,540 | $17,410 |
| Fidelity Series Canada Fund | 2,519 | 412 | 427 | 72 | (44) | 1,371 | 3,831 |
| Fidelity Series Commodity Strategy Fund | 3,433 | 1,103 | 1,126 | 16 | (174) | 1,154 | 4,390 |
| Fidelity Series Corporate Bond Fund | -- | 17 | -- | -- | -- | (1) | 16 |
| Fidelity Series Emerging Markets Debt Fund | 705 | 153 | 81 | 40 | (8) | 95 | 864 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 300 | 9 | 4 | -- | (4) | 287 |
| Fidelity Series Emerging Markets Fund | 1,221 | 519 | 167 | 33 | 12 | 931 | 2,516 |
| Fidelity Series Emerging Markets Opportunities Fund | 11,230 | 4,450 | 1,397 | 632 | 86 | 8,272 | 22,641 |
| Fidelity Series Floating Rate High Income Fund | 157 | 13 | 22 | 8 | (1) | 23 | 170 |
| Fidelity Series Government Bond Index Fund | -- | 21 | -- | -- | -- | (1) | 20 |
| Fidelity Series Government Money Market Fund 0.08% | 957 | 1,320 | 1,867 | 1 | -- | -- | 410 |
| Fidelity Series High Income Fund | 777 | 161 | 46 | 50 | (1) | 110 | 1,001 |
| Fidelity Series Inflation-Protected Bond Index Fund | 2,308 | 1,153 | 453 | 38 | -- | 151 | 3,159 |
| Fidelity Series International Credit Fund | 37 | 2 | -- | 3 | -- | 2 | 41 |
| Fidelity Series International Growth Fund | 6,827 | 2,667 | 1,711 | 1,268 | 35 | 1,567 | 9,385 |
| Fidelity Series International Index Fund | 2,704 | 309 | 226 | 71 | (7) | 1,153 | 3,933 |
| Fidelity Series International Small Cap Fund | 2,017 | 287 | 64 | 27 | -- | 1,140 | 3,380 |
| Fidelity Series International Value Fund | 6,451 | 1,228 | 1,632 | 249 | (139) | 3,553 | 9,461 |
| Fidelity Series Investment Grade Bond Fund | -- | 23 | -- | -- | -- | -- | 23 |
| Fidelity Series Investment Grade Securitized Fund | -- | 15 | -- | -- | -- | -- | 15 |
| Fidelity Series Large Cap Growth Index Fund | 7,401 | 1,268 | 1,751 | 311 | 262 | 3,806 | 10,986 |
| Fidelity Series Large Cap Stock Fund | 7,688 | 1,571 | 1,621 | 590 | 143 | 4,230 | 12,011 |
| Fidelity Series Large Cap Value Index Fund | 14,212 | 3,528 | 2,815 | 453 | 138 | 7,883 | 22,946 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2,584 | 3,407 | 667 | 363 | 14 | (1,009) | 4,329 |
| Fidelity Series Overseas Fund | 6,598 | 1,142 | 1,223 | 101 | (47) | 2,967 | 9,437 |
| Fidelity Series Real Estate Income Fund | 433 | 50 | 19 | 33 | (1) | 139 | 602 |
| Fidelity Series Short-Term Credit Fund | 204 | 5 | 13 | 5 | -- | 6 | 202 |
| Fidelity Series Small Cap Opportunities Fund | 3,609 | 594 | 1,047 | 114 | 3 | 2,656 | 5,815 |
| Fidelity Series Treasury Bill Index Fund | 2,710 | 12 | 2,059 | 11 | (5) | (6) | 652 |
| Fidelity Series Value Discovery Fund | 4,500 | 1,553 | 663 | 173 | 84 | 3,003 | 8,477 |
| Total | $101,119 | $34,102 | $24,445 | $9,659 | $903 | $46,731 | $158,410 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $82,035 | $82,035 | $-- | $-- |
| International Equity Funds | 64,584 | 64,584 | -- | -- |
| Bond Funds | 10,527 | 10,527 | -- | -- |
| Short-Term Funds | 1,264 | 1,264 | -- | -- |
| Total Investments in Securities: | $158,410 | $158,410 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2055 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $131,729) | $158,410 | |
| Total Investment in Securities (cost $131,729) | | $158,410 |
| Receivable for investments sold | | 1,693 |
| Total assets | | 160,103 |
| Liabilities | | |
| Payable for investments purchased | $1,692 | |
| Total liabilities | | 1,692 |
| Net Assets | | $158,411 |
| Net Assets consist of: | | |
| Paid in capital | | $127,905 |
| Total accumulated earnings (loss) | | 30,506 |
| Net Assets | | $158,411 |
| Net Asset Value, offering price and redemption price per share ($158,411 ÷ 12,708 shares) | | $12.47 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $2,237 |
| Expenses | | |
| Independent trustees' fees and expenses | $1 | |
| Total expenses | | 1 |
| Net investment income (loss) | | 2,236 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 903 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 7,422 | |
| Total net realized gain (loss) | | 8,325 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 46,731 | |
| Total change in net unrealized appreciation (depreciation) | | 46,731 |
| Net gain (loss) | | 55,056 |
| Net increase (decrease) in net assets resulting from operations | | $57,292 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $2,236 | $2,705 |
| Net realized gain (loss) | 8,325 | 3,006 |
| Change in net unrealized appreciation (depreciation) | 46,731 | (17,283) |
| Net increase (decrease) in net assets resulting from operations | 57,292 | (11,572) |
| Distributions to shareholders | (8,270) | (8,457) |
| Share transactions | | |
| Reinvestment of distributions | 8,270 | 8,457 |
| Net increase (decrease) in net assets resulting from share transactions | 8,270 | 8,457 |
| Total increase (decrease) in net assets | 57,292 | (11,572) |
| Net Assets | | |
| Beginning of period | 101,119 | 112,691 |
| End of period | $158,411 | $101,119 |
| Other Information | | |
| Shares | | |
| Sold | – | – |
| Issued in reinvestment of distributions | 749 | 832 |
| Net increase (decrease) | 749 | 832 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Flex Freedom Blend 2055 Fund
| | | | | |
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $8.46 | $10.13 | $10.66 | $10.00 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .18 | .23 | .22 | .17 |
| Net realized and unrealized gain (loss) | 4.51 | (1.15) | –C | .82 |
| Total from investment operations | 4.69 | (.92) | .22 | .99 |
| Distributions from net investment income | (.18) | (.24) | (.22) | (.17) |
| Distributions from net realized gain | (.50) | (.51) | (.53) | (.17) |
| Total distributions | (.68) | (.75) | (.75) | (.33)D |
| Net asset value, end of period | $12.47 | $8.46 | $10.13 | $10.66 |
| Total ReturnE | 56.63% | (10.24)% | 2.56% | 9.90% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | - %H | - %H | - %H | - %I |
| Expenses net of fee waivers, if any | - %H | - %H | - %H | - %I |
| Expenses net of all reductions | - %H | - %H | - %H | - %I |
| Net investment income (loss) | 1.67% | 2.30% | 2.13% | 2.00%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $158 | $101 | $113 | $110 |
| Portfolio turnover rateJ | 18% | 61% | 20% | 13%I |
A For the period June 8, 2017 (commencement of operations) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Amount represents less than .005%.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2060 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Large Cap Value Index Fund | 14.5 |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Blue Chip Growth Fund | 11.0 |
| Fidelity Series Large Cap Stock Fund | 7.6 |
| Fidelity Series Large Cap Growth Index Fund | 6.9 |
| Fidelity Series International Value Fund | 6.0 |
| Fidelity Series Overseas Fund | 6.0 |
| Fidelity Series International Growth Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 5.3 |
| Fidelity Series Small Cap Opportunities Fund | 3.7 |
| | 81.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Flex® Freedom Blend 2060 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 51.8% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 1,000 | $17,409 |
| Fidelity Series Commodity Strategy Fund (a) | | 896 | 4,390 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 696 | 10,985 |
| Fidelity Series Large Cap Stock Fund (a) | | 651 | 12,010 |
| Fidelity Series Large Cap Value Index Fund (a) | | 1,562 | 22,942 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 328 | 5,815 |
| Fidelity Series Value Discovery Fund (a) | | 532 | 8,476 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $67,001) | | | 82,027 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 300 | 3,830 |
| Fidelity Series Emerging Markets Fund (a) | | 215 | 2,516 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 882 | 22,639 |
| Fidelity Series International Growth Fund (a) | | 523 | 9,384 |
| Fidelity Series International Index Fund (a) | | 337 | 3,933 |
| Fidelity Series International Small Cap Fund (a) | | 164 | 3,398 |
| Fidelity Series International Value Fund (a) | | 870 | 9,441 |
| Fidelity Series Overseas Fund (a) | | 748 | 9,436 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $52,529) | | | 64,577 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 1 | 16 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 95 | 864 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 29 | 287 |
| Fidelity Series Floating Rate High Income Fund (a) | | 18 | 170 |
| Fidelity Series Government Bond Index Fund (a) | | 2 | 20 |
| Fidelity Series High Income Fund (a) | | 107 | 1,000 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 294 | 3,159 |
| Fidelity Series International Credit Fund (a) | | 4 | 41 |
| Fidelity Series Investment Grade Bond Fund (a) | | 2 | 23 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 1 | 15 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 548 | 4,328 |
| Fidelity Series Real Estate Income Fund (a) | | 54 | 602 |
| TOTAL BOND FUNDS | | | |
| (Cost $10,983) | | | 10,525 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 410 | 410 |
| Fidelity Series Short-Term Credit Fund (a) | | 20 | 202 |
| Fidelity Series Treasury Bill Index Fund (a) | | 65 | 652 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $1,258) | | | 1,264 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $131,771) | | | 158,393 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | 0 |
| NET ASSETS - 100% | | | $158,393 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $9,838 | $7,012 | $3,520 | $4,992 | $548 | $3,531 | $17,409 |
| Fidelity Series Canada Fund | 2,457 | 428 | 378 | 72 | (25) | 1,348 | 3,830 |
| Fidelity Series Commodity Strategy Fund | 3,433 | 1,104 | 1,126 | 16 | (142) | 1,121 | 4,390 |
| Fidelity Series Corporate Bond Fund | -- | 17 | -- | -- | -- | (1) | 16 |
| Fidelity Series Emerging Markets Debt Fund | 705 | 154 | 81 | 40 | (8) | 94 | 864 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 300 | 9 | 4 | -- | (4) | 287 |
| Fidelity Series Emerging Markets Fund | 1,221 | 519 | 167 | 33 | 12 | 931 | 2,516 |
| Fidelity Series Emerging Markets Opportunities Fund | 11,231 | 4,451 | 1,397 | 632 | 84 | 8,270 | 22,639 |
| Fidelity Series Floating Rate High Income Fund | 157 | 13 | 22 | 8 | (1) | 23 | 170 |
| Fidelity Series Government Bond Index Fund | -- | 21 | -- | -- | -- | (1) | 20 |
| Fidelity Series Government Money Market Fund 0.08% | 956 | 1,322 | 1,868 | 1 | -- | -- | 410 |
| Fidelity Series High Income Fund | 777 | 160 | 46 | 50 | (1) | 110 | 1,000 |
| Fidelity Series Inflation-Protected Bond Index Fund | 2,308 | 1,153 | 453 | 38 | -- | 151 | 3,159 |
| Fidelity Series International Credit Fund | 37 | 2 | -- | 3 | -- | 2 | 41 |
| Fidelity Series International Growth Fund | 6,825 | 2,513 | 1,569 | 1,268 | 48 | 1,567 | 9,384 |
| Fidelity Series International Index Fund | 2,704 | 309 | 226 | 71 | (5) | 1,151 | 3,933 |
| Fidelity Series International Small Cap Fund | 2,017 | 312 | 71 | 27 | -- | 1,140 | 3,398 |
| Fidelity Series International Value Fund | 6,511 | 1,050 | 1,525 | 249 | (86) | 3,491 | 9,441 |
| Fidelity Series Investment Grade Bond Fund | -- | 23 | -- | -- | -- | -- | 23 |
| Fidelity Series Investment Grade Securitized Fund | -- | 15 | -- | -- | -- | -- | 15 |
| Fidelity Series Large Cap Growth Index Fund | 7,402 | 1,156 | 1,637 | 311 | 258 | 3,806 | 10,985 |
| Fidelity Series Large Cap Stock Fund | 7,689 | 1,678 | 1,735 | 590 | 142 | 4,236 | 12,010 |
| Fidelity Series Large Cap Value Index Fund | 14,214 | 3,524 | 2,816 | 453 | 135 | 7,885 | 22,942 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2,584 | 3,407 | 668 | 363 | 14 | (1,009) | 4,328 |
| Fidelity Series Overseas Fund | 6,598 | 1,243 | 1,322 | 101 | (47) | 2,964 | 9,436 |
| Fidelity Series Real Estate Income Fund | 433 | 50 | 19 | 33 | (1) | 139 | 602 |
| Fidelity Series Short-Term Credit Fund | 205 | 4 | 13 | 5 | -- | 6 | 202 |
| Fidelity Series Small Cap Opportunities Fund | 3,610 | 775 | 1,230 | 114 | (27) | 2,687 | 5,815 |
| Fidelity Series Treasury Bill Index Fund | 2,710 | 12 | 2,059 | 11 | (5) | (6) | 652 |
| Fidelity Series Value Discovery Fund | 4,500 | 1,591 | 704 | 173 | 88 | 3,001 | 8,476 |
| Total | $101,122 | $34,318 | $24,661 | $9,658 | $981 | $46,633 | $158,393 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $82,027 | $82,027 | $-- | $-- |
| International Equity Funds | 64,577 | 64,577 | -- | -- |
| Bond Funds | 10,525 | 10,525 | -- | -- |
| Short-Term Funds | 1,264 | 1,264 | -- | -- |
| Total Investments in Securities: | $158,393 | $158,393 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2060 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $131,771) | $158,393 | |
| Total Investment in Securities (cost $131,771) | | $158,393 |
| Receivable for investments sold | | 1,713 |
| Total assets | | 160,106 |
| Liabilities | | |
| Payable for investments purchased | $1,713 | |
| Total liabilities | | 1,713 |
| Net Assets | | $158,393 |
| Net Assets consist of: | | |
| Paid in capital | | $127,939 |
| Total accumulated earnings (loss) | | 30,454 |
| Net Assets | | $158,393 |
| Net Asset Value, offering price and redemption price per share ($158,393 ÷ 12,712 shares) | | $12.46 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $2,238 |
| Expenses | | |
| Independent trustees' fees and expenses | $1 | |
| Total expenses | | 1 |
| Net investment income (loss) | | 2,237 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 981 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 7,420 | |
| Total net realized gain (loss) | | 8,401 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 46,633 | |
| Total change in net unrealized appreciation (depreciation) | | 46,633 |
| Net gain (loss) | | 55,034 |
| Net increase (decrease) in net assets resulting from operations | | $57,271 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $2,237 | $2,709 |
| Net realized gain (loss) | 8,401 | 2,987 |
| Change in net unrealized appreciation (depreciation) | 46,633 | (17,258) |
| Net increase (decrease) in net assets resulting from operations | 57,271 | (11,562) |
| Distributions to shareholders | (8,330) | (8,455) |
| Share transactions | | |
| Reinvestment of distributions | 8,330 | 8,455 |
| Net increase (decrease) in net assets resulting from share transactions | 8,330 | 8,455 |
| Total increase (decrease) in net assets | 57,271 | (11,562) |
| Net Assets | | |
| Beginning of period | 101,122 | 112,684 |
| End of period | $158,393 | $101,122 |
| Other Information | | |
| Shares | | |
| Sold | – | – |
| Issued in reinvestment of distributions | 755 | 832 |
| Net increase (decrease) | 755 | 832 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Flex Freedom Blend 2060 Fund
| | | | | |
| Years ended March 31, | 2021 | 2020 | 2019 | 2018 A |
| Selected Per–Share Data | | | | |
| Net asset value, beginning of period | $8.46 | $10.13 | $10.66 | $10.00 |
| Income from Investment Operations | | | | |
| Net investment income (loss)B | .18 | .23 | .22 | .17 |
| Net realized and unrealized gain (loss) | 4.51 | (1.15) | –C | .82 |
| Total from investment operations | 4.69 | (.92) | .22 | .99 |
| Distributions from net investment income | (.18) | (.24) | (.22) | (.17) |
| Distributions from net realized gain | (.50) | (.51) | (.53) | (.17) |
| Total distributions | (.69)D | (.75) | (.75) | (.33)D |
| Net asset value, end of period | $12.46 | $8.46 | $10.13 | $10.66 |
| Total ReturnE | 56.58% | (10.24)% | 2.55% | 9.89% |
| Ratios to Average Net AssetsF,G | | | | |
| Expenses before reductions | - %H | - %H | - %H | - %I |
| Expenses net of fee waivers, if any | - %H | - %H | - %H | - %I |
| Expenses net of all reductions | - %H | - %H | - %H | - %I |
| Net investment income (loss) | 1.67% | 2.30% | 2.13% | 2.00%I |
| Supplemental Data | | | | |
| Net assets, end of period (000 omitted) | $158 | $101 | $113 | $110 |
| Portfolio turnover rateJ | 19% | 62% | 20% | 13%I |
A For the period June 8, 2017 (commencement of operations) to March 31, 2018.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Amount represents less than .005%.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2065 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Large Cap Value Index Fund | 14.5 |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Blue Chip Growth Fund | 11.0 |
| Fidelity Series Large Cap Stock Fund | 7.6 |
| Fidelity Series Large Cap Growth Index Fund | 6.9 |
| Fidelity Series International Value Fund | 6.0 |
| Fidelity Series Overseas Fund | 6.0 |
| Fidelity Series International Growth Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 5.3 |
| Fidelity Series Small Cap Opportunities Fund | 3.7 |
| | 81.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Flex® Freedom Blend 2065 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 51.8% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 859 | $14,957 |
| Fidelity Series Commodity Strategy Fund (a) | | 770 | 3,772 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 598 | 9,438 |
| Fidelity Series Large Cap Stock Fund (a) | | 559 | 10,319 |
| Fidelity Series Large Cap Value Index Fund (a) | | 1,342 | 19,714 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 282 | 4,996 |
| Fidelity Series Value Discovery Fund (a) | | 457 | 7,283 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $57,705) | | | 70,479 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 258 | 3,291 |
| Fidelity Series Emerging Markets Fund (a) | | 185 | 2,162 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 758 | 19,451 |
| Fidelity Series International Growth Fund (a) | | 449 | 8,062 |
| Fidelity Series International Index Fund (a) | | 289 | 3,379 |
| Fidelity Series International Small Cap Fund (a) | | 141 | 2,919 |
| Fidelity Series International Value Fund (a) | | 748 | 8,112 |
| Fidelity Series Overseas Fund (a) | | 643 | 8,107 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $45,108) | | | 55,483 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 1 | 14 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 82 | 742 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 25 | 247 |
| Fidelity Series Floating Rate High Income Fund (a) | | 16 | 146 |
| Fidelity Series Government Bond Index Fund (a) | | 2 | 18 |
| Fidelity Series High Income Fund (a) | | 92 | 860 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 253 | 2,714 |
| Fidelity Series International Credit Fund (a) | | 3 | 33 |
| Fidelity Series Investment Grade Bond Fund (a) | | 2 | 20 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 1 | 13 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 471 | 3,719 |
| Fidelity Series Real Estate Income Fund (a) | | 47 | 517 |
| TOTAL BOND FUNDS | | | |
| (Cost $9,516) | | | 9,043 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 19 | 19 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 353 | 353 |
| Fidelity Series Short-Term Credit Fund (a) | | 17 | 174 |
| Fidelity Series Treasury Bill Index Fund (a) | | 56 | 560 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $1,104) | | | 1,106 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $113,433) | | | 136,111 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | 0 |
| NET ASSETS - 100% | | | $136,111 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $8,452 | $5,817 | $2,827 | $4,290 | $377 | $3,138 | $14,957 |
| Fidelity Series Canada Fund | 2,017 | 488 | 348 | 62 | (39) | 1,173 | 3,291 |
| Fidelity Series Commodity Strategy Fund | 2,950 | 949 | 968 | 13 | (111) | 952 | 3,772 |
| Fidelity Series Corporate Bond Fund | -- | 14 | -- | -- | -- | -- | 14 |
| Fidelity Series Emerging Markets Debt Fund | 603 | 131 | 66 | 34 | (3) | 77 | 742 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 258 | 8 | 3 | -- | (3) | 247 |
| Fidelity Series Emerging Markets Fund | 1,048 | 447 | 143 | 28 | 11 | 799 | 2,162 |
| Fidelity Series Emerging Markets Opportunities Fund | 9,645 | 3,829 | 1,201 | 543 | 54 | 7,124 | 19,451 |
| Fidelity Series Floating Rate High Income Fund | 135 | 10 | 19 | 7 | -- | 20 | 146 |
| Fidelity Series Government Bond Index Fund | -- | 19 | -- | -- | -- | (1) | 18 |
| Fidelity Series Government Money Market Fund 0.08% | 823 | 1,133 | 1,603 | 1 | -- | -- | 353 |
| Fidelity Series High Income Fund | 667 | 139 | 39 | 43 | -- | 93 | 860 |
| Fidelity Series Inflation-Protected Bond Index Fund | 1,983 | 989 | 388 | 32 | 1 | 129 | 2,714 |
| Fidelity Series International Credit Fund | 30 | 2 | -- | 2 | -- | 1 | 33 |
| Fidelity Series International Growth Fund | 5,875 | 2,307 | 1,496 | 1,090 | (15) | 1,391 | 8,062 |
| Fidelity Series International Index Fund | 2,319 | 266 | 190 | 61 | (7) | 991 | 3,379 |
| Fidelity Series International Small Cap Fund | 1,735 | 265 | 61 | 23 | 1 | 979 | 2,919 |
| Fidelity Series International Value Fund | 5,654 | 943 | 1,421 | 214 | (54) | 2,990 | 8,112 |
| Fidelity Series Investment Grade Bond Fund | -- | 20 | -- | -- | -- | -- | 20 |
| Fidelity Series Investment Grade Securitized Fund | -- | 13 | -- | -- | -- | -- | 13 |
| Fidelity Series Large Cap Growth Index Fund | 6,359 | 1,065 | 1,483 | 267 | 226 | 3,271 | 9,438 |
| Fidelity Series Large Cap Stock Fund | 6,606 | 1,454 | 1,503 | 507 | 120 | 3,642 | 10,319 |
| Fidelity Series Large Cap Value Index Fund | 12,214 | 3,026 | 2,416 | 389 | 117 | 6,773 | 19,714 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 2,220 | 2,928 | 574 | 312 | (1) | (854) | 3,719 |
| Fidelity Series Overseas Fund | 5,690 | 1,029 | 1,125 | 87 | (47) | 2,560 | 8,107 |
| Fidelity Series Real Estate Income Fund | 375 | 39 | 17 | 29 | -- | 120 | 517 |
| Fidelity Series Short-Term Credit Fund | 175 | 68 | 74 | 4 | -- | 5 | 174 |
| Fidelity Series Small Cap Opportunities Fund | 3,104 | 506 | 898 | 98 | 24 | 2,260 | 4,996 |
| Fidelity Series Treasury Bill Index Fund | 2,327 | 10 | 1,768 | 9 | (4) | (5) | 560 |
| Fidelity Series Value Discovery Fund | 3,866 | 1,337 | 569 | 149 | 79 | 2,570 | 7,283 |
| Total | $86,872 | $29,501 | $21,205 | $8,297 | $729 | $40,195 | $136,092 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $70,479 | $70,479 | $-- | $-- |
| International Equity Funds | 55,483 | 55,483 | -- | -- |
| Bond Funds | 9,043 | 9,043 | -- | -- |
| Short-Term Funds | 1,106 | 1,106 | -- | -- |
| Total Investments in Securities: | $136,111 | $136,111 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Flex® Freedom Blend 2065 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Fidelity Central Funds (cost $19) | $19 | |
| Other affiliated issuers (cost $113,414) | 136,092 | |
| Total Investment in Securities (cost $113,433) | | $136,111 |
| Receivable for investments sold | | 1,473 |
| Total assets | | 137,584 |
| Liabilities | | |
| Payable for investments purchased | $1,473 | |
| Total liabilities | | 1,473 |
| Net Assets | | $136,111 |
| Net Assets consist of: | | |
| Paid in capital | | $110,030 |
| Total accumulated earnings (loss) | | 26,081 |
| Net Assets | | $136,111 |
| Net Asset Value, offering price and redemption price per share ($136,111 ÷ 10,917 shares) | | $12.47 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $1,921 |
| Expenses | | |
| Independent trustees' fees and expenses | $1 | |
| Total expenses | | 1 |
| Net investment income (loss) | | 1,920 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 729 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 6,376 | |
| Total net realized gain (loss) | | 7,105 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 40,195 | |
| Total change in net unrealized appreciation (depreciation) | | 40,195 |
| Net gain (loss) | | 47,300 |
| Net increase (decrease) in net assets resulting from operations | | $49,220 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | For the period
June 28, 2019 (commencement of operations) to March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $1,920 | $2,211 |
| Net realized gain (loss) | 7,105 | 2,197 |
| Change in net unrealized appreciation (depreciation) | 40,195 | (17,517) |
| Net increase (decrease) in net assets resulting from operations | 49,220 | (13,109) |
| Distributions to shareholders | (6,651) | (3,380) |
| Share transactions | | |
| Proceeds from sales of shares | – | 100,000 |
| Reinvestment of distributions | 6,651 | 3,380 |
| Net increase (decrease) in net assets resulting from share transactions | 6,651 | 103,380 |
| Total increase (decrease) in net assets | 49,220 | 86,891 |
| Net Assets | | |
| Beginning of period | 86,891 | – |
| End of period | $136,111 | $86,891 |
| Other Information | | |
| Shares | | |
| Sold | – | 10,000 |
| Issued in reinvestment of distributions | 597 | 320 |
| Net increase (decrease) | 597 | 10,320 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Flex Freedom Blend 2065 Fund
| | | |
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.42 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .18 | .22 |
| Net realized and unrealized gain (loss) | 4.51 | (1.46) |
| Total from investment operations | 4.69 | (1.24) |
| Distributions from net investment income | (.18) | (.22) |
| Distributions from net realized gain | (.45) | (.12) |
| Total distributions | (.64)C | (.34) |
| Net asset value, end of period | $12.47 | $8.42 |
| Total ReturnD | 56.66% | (13.10)% |
| Ratios to Average Net AssetsE,F | | |
| Expenses before reductionsG | -% | - %H |
| Expenses net of fee waivers, if anyG | -% | - %H |
| Expenses net of all reductionsG | -% | - %H |
| Net investment income (loss) | 1.67% | 2.88%H |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $136 | $87 |
| Portfolio turnover rateI | 19% | 208%H |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Amount represents less than .005%.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Notes to Financial Statements
For the period ended March 31, 2021
1. Organization.
Fidelity Flex Freedom Blend Income Fund, Fidelity Flex Freedom Blend 2005 Fund, Fidelity Flex Freedom Blend 2010 Fund, Fidelity Flex Freedom Blend 2015 Fund, Fidelity Flex Freedom Blend 2020 Fund, Fidelity Flex Freedom Blend 2025 Fund, Fidelity Flex Freedom Blend 2030 Fund, Fidelity Flex Freedom Blend 2035 Fund, Fidelity Flex Freedom Blend 2040 Fund, Fidelity Flex Freedom Blend 2045 Fund, Fidelity Flex Freedom Blend 2050 Fund, Fidelity Flex Freedom Blend 2055 Fund, Fidelity Flex Freedom Blend 2060 Fund and Fidelity Flex Freedom Blend 2065 Fund (the Funds) are funds of Fidelity Aberdeen Street Trust (the Trust). The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware statutory trust. Each Fund is authorized to issue an unlimited number of shares. The Funds are available only to certain fee-based accounts and advisory programs offered by Fidelity. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds.
2. Investments in Fidelity Central Funds.
The Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Funds' Schedules of Investments list each of the Fidelity Central Funds held as of period end, if any, as an investment of each Fund, but do not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, each Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
The Money Market Central Funds seek preservation of capital and current income and are managed by the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date ranged from less than .005% to .01%.
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.
3. Significant Accounting Policies.
Each Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. Each Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of each Fund:
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Each Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
- Level 1 – quoted prices in active markets for identical investments
- Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
- Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value each Fund's investments by major category are as follows. Investments in open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy. The aggregate value of investments by input level as of March 31, 2021 is included at the end of each Fund's Schedule of Investments.
Investment Transactions and Income. For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Income and capital gain distributions from any underlying mutual funds or exchange-traded funds (ETFs) are recorded on the ex-dividend date.
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of each Fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds (ETFs). Although not included in each Fund's expenses, each Fund indirectly bears its proportionate share of any underlying mutual funds or exchange-traded funds (ETFs) expenses through the impact of these expenses on each underlying mutual fund's or exchange-traded fund's (ETFs) NAV. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Income Tax Information and Distributions to Shareholders. Each year, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. As of March 31, 2021, each Fund did not have any unrecognized tax benefits in the financial statements; nor is each Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. Each Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
Book-tax differences are primarily due to the short-term gain distributions from the underlying mutual funds or exchange-traded funds (ETFs) and losses deferred due to wash sales.
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows for each Fund:
| | Tax cost | Gross unrealized appreciation | Gross unrealized depreciation | Net unrealized appreciation (depreciation) |
| Fidelity Flex Freedom Blend Income Fund | $116,619 | $7,485 | $(884) | $6,601 |
| Fidelity Flex Freedom Blend 2005 Fund | 118,822 | 8,544 | (964) | 7,580 |
| Fidelity Flex Freedom Blend 2010 Fund | 121,270 | 10,815 | (1,029) | 9,786 |
| Fidelity Flex Freedom Blend 2015 Fund | 123,541 | 13,313 | (1,077) | 12,236 |
| Fidelity Flex Freedom Blend 2020 Fund | 125,346 | 15,775 | (1,095) | 14,680 |
| Fidelity Flex Freedom Blend 2025 Fund | 126,918 | 17,684 | (1,113) | 16,571 |
| Fidelity Flex Freedom Blend 2030 Fund | 129,781 | 19,849 | (1,159) | 18,690 |
| Fidelity Flex Freedom Blend 2035 Fund | 132,015 | 24,120 | (1,077) | 23,043 |
| Fidelity Flex Freedom Blend 2040 Fund | 132,245 | 26,918 | (796) | 26,122 |
| Fidelity Flex Freedom Blend 2045 Fund | 132,193 | 26,973 | (794) | 26,179 |
| Fidelity Flex Freedom Blend 2050 Fund | 132,358 | 26,919 | (795) | 26,124 |
| Fidelity Flex Freedom Blend 2055 Fund | 132,254 | 26,952 | (796) | 26,156 |
| Fidelity Flex Freedom Blend 2060 Fund | 132,300 | 26,887 | (794) | 26,093 |
| Fidelity Flex Freedom Blend 2065 Fund | 113,829 | 22,970 | (688) | 22,282 |
The tax-based components of distributable earnings as of period end were as follows for each Fund:
| | Undistributed ordinary income | Undistributed long-term capital gain | Net unrealized appreciation (depreciation) on securities and other investments |
| Fidelity Flex Freedom Blend Income Fund | $136 | $1,337 | $6,601 |
| Fidelity Flex Freedom Blend 2005 Fund | 336 | 1,637 | 7,580 |
| Fidelity Flex Freedom Blend 2010 Fund | 351 | 2,066 | 9,786 |
| Fidelity Flex Freedom Blend 2015 Fund | 355 | 2,471 | 12,236 |
| Fidelity Flex Freedom Blend 2020 Fund | 278 | 2,842 | 14,680 |
| Fidelity Flex Freedom Blend 2025 Fund | 208 | 3,139 | 16,571 |
| Fidelity Flex Freedom Blend 2030 Fund | 186 | 3,574 | 18,690 |
| Fidelity Flex Freedom Blend 2035 Fund | 259 | 3,906 | 23,043 |
| Fidelity Flex Freedom Blend 2040 Fund | 179 | 4,166 | 26,122 |
| Fidelity Flex Freedom Blend 2045 Fund | 153 | 4,201 | 26,179 |
| Fidelity Flex Freedom Blend 2050 Fund | 218 | 4,124 | 26,124 |
| Fidelity Flex Freedom Blend 2055 Fund | 95 | 4,256 | 26,156 |
| Fidelity Flex Freedom Blend 2060 Fund | 147 | 4,216 | 26,093 |
| Fidelity Flex Freedom Blend 2065 Fund | 129 | 3,669 | 22,282 |
The tax character of distributions paid was as follows:
| March 31, 2021 | | | |
| | Ordinary Income | Long-term Capital Gains | Total |
| Fidelity Flex Freedom Blend Income Fund | $2,684 | $899 | $3,583 |
| Fidelity Flex Freedom Blend 2005 Fund | 2,883 | 1,337 | 4,220 |
| Fidelity Flex Freedom Blend 2010 Fund | 3,070 | 1,903 | 4,973 |
| Fidelity Flex Freedom Blend 2015 Fund | 3,058 | 2,575 | 5,633 |
| Fidelity Flex Freedom Blend 2020 Fund | 3,145 | 3,089 | 6,234 |
| Fidelity Flex Freedom Blend 2025 Fund | 3,158 | 3,527 | 6,685 |
| Fidelity Flex Freedom Blend 2030 Fund | 3,295 | 4,216 | 7,511 |
| Fidelity Flex Freedom Blend 2035 Fund | 3,100 | 5,094 | 8,194 |
| Fidelity Flex Freedom Blend 2040 Fund | 2,920 | 5,383 | 8,303 |
| Fidelity Flex Freedom Blend 2045 Fund | 2,896 | 5,334 | 8,230 |
| Fidelity Flex Freedom Blend 2050 Fund | 2,894 | 5,383 | 8,277 |
| Fidelity Flex Freedom Blend 2055 Fund | 2,969 | 5,301 | 8,270 |
| Fidelity Flex Freedom Blend 2060 Fund | 2,981 | 5,349 | 8,330 |
| Fidelity Flex Freedom Blend 2065 Fund | 2,605 | 4,046 | 6,651 |
| March 31, 2020 | | | |
| | Ordinary Income | Long-term Capital Gains | Total |
| Fidelity Flex Freedom Blend Income Fund | $3,043 | $1,796 | $4,839 |
| Fidelity Flex Freedom Blend 2005 Fund | 3,173 | 2,217 | 5,390 |
| Fidelity Flex Freedom Blend 2010 Fund | 3,302 | 2,656 | 5,958 |
| Fidelity Flex Freedom Blend 2015 Fund | 3,356 | 3,134 | 6,490 |
| Fidelity Flex Freedom Blend 2020 Fund | 3,424 | 3,532 | 6,956 |
| Fidelity Flex Freedom Blend 2025 Fund | 3,414 | 4,012 | 7,426 |
| Fidelity Flex Freedom Blend 2030 Fund | 3,227 | 4,820 | 8,047 |
| Fidelity Flex Freedom Blend 2035 Fund | 3,162 | 5,435 | 8,597 |
| Fidelity Flex Freedom Blend 2040 Fund | 3,231 | 5,191 | 8,422 |
| Fidelity Flex Freedom Blend 2045 Fund | 3,265 | 5,169 | 8,434 |
| Fidelity Flex Freedom Blend 2050 Fund | 3,230 | 5,213 | 8,443 |
| Fidelity Flex Freedom Blend 2055 Fund | 3,265 | 5,192 | 8,457 |
| Fidelity Flex Freedom Blend 2060 Fund | 3,242 | 5,213 | 8,455 |
| Fidelity Flex Freedom Blend 2065 Fund(a) | 2,630 | 750 | 3,380 |
(a) For the period June 28, 2019 (commencement of operations) to March 31, 2020.
4. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, are noted in the table below.
| | Purchases ($) | Sales ($) |
| Fidelity Flex Freedom Blend Income Fund | 33,303 | 29,180 |
| Fidelity Flex Freedom Blend 2005 Fund | 34,988 | 30,456 |
| Fidelity Flex Freedom Blend 2010 Fund | 37,309 | 32,053 |
| Fidelity Flex Freedom Blend 2015 Fund | 38,916 | 32,919 |
| Fidelity Flex Freedom Blend 2020 Fund | 39,247 | 32,532 |
| Fidelity Flex Freedom Blend 2025 Fund | 39,786 | 32,503 |
| Fidelity Flex Freedom Blend 2030 Fund | 40,726 | 32,677 |
| Fidelity Flex Freedom Blend 2035 Fund | 39,698 | 30,576 |
| Fidelity Flex Freedom Blend 2040 Fund | 33,919 | 24,260 |
| Fidelity Flex Freedom Blend 2045 Fund | 34,099 | 24,441 |
| Fidelity Flex Freedom Blend 2050 Fund | 34,649 | 24,854 |
| Fidelity Flex Freedom Blend 2055 Fund | 34,102 | 24,445 |
| Fidelity Flex Freedom Blend 2060 Fund | 34,318 | 24,661 |
| Fidelity Flex Freedom Blend 2065 Fund | 29,501 | 21,205 |
5. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Funds with investment management related services and the Funds do not pay any fees for these services. Under the management contract, the investment adviser or an affiliate pays all other expenses of the Funds, excluding fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses.
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.
Other. During the period, the investment adviser reimbursed the Funds for certain losses as follows:
| | Amount |
| Fidelity Flex Freedom Blend Income Fund | $3 |
6. Other.
The Funds' organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Funds. In the normal course of business, the Funds may also enter into contracts that provide general indemnifications. The Funds' maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Funds. The risk of material loss from such claims is considered remote.
At the end of the period, the investment adviser or its affiliates were owners of record of more than 10% of the outstanding shares of the following Funds:
| | Affiliated % |
| Fidelity Flex Freedom Blend Income Fund | 100% |
| Fidelity Flex Freedom Blend 2005 Fund | 100% |
| Fidelity Flex Freedom Blend 2010 Fund | 100% |
| Fidelity Flex Freedom Blend 2015 Fund | 100% |
| Fidelity Flex Freedom Blend 2020 Fund | 100% |
| Fidelity Flex Freedom Blend 2025 Fund | 100% |
| Fidelity Flex Freedom Blend 2030 Fund | 100% |
| Fidelity Flex Freedom Blend 2035 Fund | 100% |
| Fidelity Flex Freedom Blend 2040 Fund | 100% |
| Fidelity Flex Freedom Blend 2045 Fund | 100% |
| Fidelity Flex Freedom Blend 2050 Fund | 100% |
| Fidelity Flex Freedom Blend 2055 Fund | 100% |
| Fidelity Flex Freedom Blend 2060 Fund | 100% |
| Fidelity Flex Freedom Blend 2065 Fund | 100% |
7. Coronavirus (COVID-19) Pandemic.
An outbreak of COVID-19 first detected in China during December 2019 has since spread globally and was declared a pandemic by the World Health Organization during March 2020. Developments that disrupt global economies and financial markets, such as the COVID-19 pandemic, may magnify factors that affect the Funds' performance.
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of Fidelity Aberdeen Street Trust and the Shareholders of Fidelity Flex Freedom Blend Income Fund, Fidelity Flex Freedom Blend 2005 Fund, Fidelity Flex Freedom Blend 2010 Fund, Fidelity Flex Freedom Blend 2015 Fund, Fidelity Flex Freedom Blend 2020 Fund, Fidelity Flex Freedom Blend 2025 Fund, Fidelity Flex Freedom Blend 2030 Fund, Fidelity Flex Freedom Blend 2035 Fund, Fidelity Flex Freedom Blend 2040 Fund, Fidelity Flex Freedom Blend 2045 Fund, Fidelity Flex Freedom Blend 2050 Fund, Fidelity Flex Freedom Blend 2055 Fund, Fidelity Flex Freedom Blend 2060 Fund and Fidelity Flex Freedom Blend 2065 Fund
Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds indicated in the table below (fourteen of the funds constituting Fidelity Aberdeen Street Trust, hereafter collectively referred to as the “Funds”) as of March 31, 2021, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated in the table below (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of March 31, 2021, the results of each of their operations, the changes in each of their net assets, and each of the financial highlights for each of the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.
| Fund | Statement of operations | Statement of changes in net assets | Financial highlights |
| Fidelity Flex Freedom Blend Income Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021, 2020 and 2019, and the period June 8, 2017 (commencement of operations) to March 31, 2018 |
| Fidelity Flex Freedom Blend 2005 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021, 2020 and 2019, and the period June 8, 2017 (commencement of operations) to March 31, 2018 |
| Fidelity Flex Freedom Blend 2010 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021, 2020 and 2019, and the period June 8, 2017 (commencement of operations) to March 31, 2018 |
| Fidelity Flex Freedom Blend 2015 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021, 2020 and 2019, and the period June 8, 2017 (commencement of operations) to March 31, 2018 |
| Fidelity Flex Freedom Blend 2020 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021, 2020 and 2019, and the period June 8, 2017 (commencement of operations) to March 31, 2018 |
| Fidelity Flex Freedom Blend 2025 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021, 2020 and 2019, and the period June 8, 2017 (commencement of operations) to March 31, 2018 |
| Fidelity Flex Freedom Blend 2030 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021, 2020 and 2019, and the period June 8, 2017 (commencement of operations) to March 31, 2018 |
| Fidelity Flex Freedom Blend 2035 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021, 2020 and 2019, and the period June 8, 2017 (commencement of operations) to March 31, 2018 |
| Fidelity Flex Freedom Blend 2040 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021, 2020 and 2019, and the period June 8, 2017 (commencement of operations) to March 31, 2018 |
| Fidelity Flex Freedom Blend 2045 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021, 2020 and 2019, and the period June 8, 2017 (commencement of operations) to March 31, 2018 |
| Fidelity Flex Freedom Blend 2050 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021, 2020 and 2019, and the period June 8, 2017 (commencement of operations) to March 31, 2018 |
| Fidelity Flex Freedom Blend 2055 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021, 2020 and 2019, and the period June 8, 2017 (commencement of operations) to March 31, 2018 |
| Fidelity Flex Freedom Blend 2060 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021, 2020 and 2019, and the period June 8, 2017 (commencement of operations) to March 31, 2018 |
| Fidelity Flex Freedom Blend 2065 Fund | For the year ended March 31, 2021 | For the year ended March 31, 2021 and the period June 28, 2019 (commencement of operations) to March 31, 2020 | For the year ended March 31, 2021 and the period June 28, 2019 (commencement of operations) to March 31, 2020 |
Basis for Opinions
These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of March 31, 2021 by correspondence with the custodian and brokers. We believe that our audits provide a reasonable basis for our opinions.
/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
May 11, 2021
We have served as the auditor of one or more investment companies in the Fidelity group of funds since 1932.
Trustees and Officers
The Trustees, Members of the Advisory Board (if any), and officers of the trust and funds, as applicable, are listed below. The Board of Trustees governs each fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee each fund's activities, review contractual arrangements with companies that provide services to each fund, oversee management of the risks associated with such activities and contractual arrangements, and review each fund's performance. If the interests of a fund and an underlying Fidelity® fund were to diverge, a conflict of interest could arise and affect how the Trustees and Members of the Advisory Board fulfill their fiduciary duties to the affected funds. FMR has structured the funds to avoid these potential conflicts, although there may be situations where a conflict of interest is unavoidable. In such instances, FMR, the Trustees, and Members of the Advisory Board would take reasonable steps to minimize and, if possible, eliminate the conflict. Each of the Trustees oversees 283 funds.
The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust. Each Trustee who is not an interested person (as defined in the 1940 Act) of the trust and the funds is referred to herein as an Independent Trustee. Each Independent Trustee shall retire not later than the last day of the calendar year in which his or her 75th birthday occurs. The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees. Officers and Advisory Board Members hold office without limit in time, except that any officer or Advisory Board Member may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years.
The fund’s Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-800-544-3455 (for managed account clients) or 1-800-835-5092 (for retirement plan participants).
Experience, Skills, Attributes, and Qualifications of the Trustees. The Governance and Nominating Committee has adopted a statement of policy that describes the experience, qualifications, attributes, and skills that are necessary and desirable for potential Independent Trustee candidates (Statement of Policy). The Board believes that each Trustee satisfied at the time he or she was initially elected or appointed a Trustee, and continues to satisfy, the standards contemplated by the Statement of Policy. The Governance and Nominating Committee also engages professional search firms to help identify potential Independent Trustee candidates who have the experience, qualifications, attributes, and skills consistent with the Statement of Policy. From time to time, additional criteria based on the composition and skills of the current Independent Trustees, as well as experience or skills that may be appropriate in light of future changes to board composition, business conditions, and regulatory or other developments, have also been considered by the professional search firms and the Governance and Nominating Committee. In addition, the Board takes into account the Trustees' commitment and participation in Board and committee meetings, as well as their leadership of standing and ad hoc committees throughout their tenure.
In determining that a particular Trustee was and continues to be qualified to serve as a Trustee, the Board has considered a variety of criteria, none of which, in isolation, was controlling. The Board believes that, collectively, the Trustees have balanced and diverse experience, qualifications, attributes, and skills, which allow the Board to operate effectively in governing each fund and protecting the interests of shareholders. Information about the specific experience, skills, attributes, and qualifications of each Trustee, which in each case led to the Board's conclusion that the Trustee should serve (or continue to serve) as a trustee of the funds, is provided below.
Board Structure and Oversight Function. Abigail P. Johnson is an interested person and currently serves as Chairman. The Trustees have determined that an interested Chairman is appropriate and benefits shareholders because an interested Chairman has a personal and professional stake in the quality and continuity of services provided to the funds. Independent Trustees exercise their informed business judgment to appoint an individual of their choosing to serve as Chairman, regardless of whether the Trustee happens to be independent or a member of management. The Independent Trustees have determined that they can act independently and effectively without having an Independent Trustee serve as Chairman and that a key structural component for assuring that they are in a position to do so is for the Independent Trustees to constitute a substantial majority for the Board. The Independent Trustees also regularly meet in executive session. Arthur E. Johnson serves as Chairman of the Independent Trustees and as such (i) acts as a liaison between the Independent Trustees and management with respect to matters important to the Independent Trustees and (ii) with management prepares agendas for Board meetings.
Fidelity® funds are overseen by different Boards of Trustees. The funds' Board oversees Fidelity's investment-grade bond, money market, asset allocation and certain equity funds, and other Boards oversee Fidelity's high income and other equity funds. The asset allocation funds may invest in Fidelity® funds that are overseen by such other Boards. The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity® funds to focus on the unique issues of the funds they oversee, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity® funds overseen by each Board.
The Trustees operate using a system of committees to facilitate the timely and efficient consideration of all matters of importance to the Trustees, each fund, and fund shareholders and to facilitate compliance with legal and regulatory requirements and oversight of the funds' activities and associated risks. The Board, acting through its committees, has charged FMR and its affiliates with (i) identifying events or circumstances the occurrence of which could have demonstrably adverse effects on the funds' business and/or reputation; (ii) implementing processes and controls to lessen the possibility that such events or circumstances occur or to mitigate the effects of such events or circumstances if they do occur; and (iii) creating and maintaining a system designed to evaluate continuously business and market conditions in order to facilitate the identification and implementation processes described in (i) and (ii) above. Because the day-to-day operations and activities of the funds are carried out by or through FMR, its affiliates, and other service providers, the funds' exposure to risks is mitigated but not eliminated by the processes overseen by the Trustees. While each of the Board's committees has responsibility for overseeing different aspects of the funds' activities, oversight is exercised primarily through the Operations and Audit Committees. In addition, an ad hoc Board committee of Independent Trustees has worked with FMR to enhance the Board's oversight of investment and financial risks, legal and regulatory risks, technology risks, and operational risks, including the development of additional risk reporting to the Board. Appropriate personnel, including but not limited to the funds' Chief Compliance Officer (CCO), FMR's internal auditor, the independent accountants, the funds' Treasurer and portfolio management personnel, make periodic reports to the Board's committees, as appropriate, including an annual review of Fidelity's risk management program for the Fidelity® funds. The responsibilities of each standing committee, including their oversight responsibilities, are described further under "Standing Committees of the Trustees."
Interested Trustees*:
Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.
Name, Year of Birth; Principal Occupations and Other Relevant Experience+
Abigail P. Johnson (1961)
Year of Election or Appointment: 2009
Trustee
Chairman of the Board of Trustees
Ms. Johnson also serves as Trustee of other Fidelity® funds. Ms. Johnson serves as Chairman (2016-present), Chief Executive Officer (2014-present), and Director (2007-present) of FMR LLC (diversified financial services company), President of Fidelity Financial Services (2012-present) and President of Personal, Workplace and Institutional Services (2005-present). Ms. Johnson is Chairman and Director of Fidelity Management & Research Company LLC (investment adviser firm, 2011-present). Previously, Ms. Johnson served as Chairman and Director of FMR Co., Inc. (investment adviser firm, 2011-2019), Vice Chairman (2007-2016) and President (2013-2016) of FMR LLC, President and a Director of Fidelity Management & Research Company (2001-2005), a Trustee of other investment companies advised by Fidelity Management & Research Company, Fidelity Investments Money Management, Inc. (investment adviser firm), and FMR Co., Inc. (2001-2005), Senior Vice President of the Fidelity® funds (2001-2005), and managed a number of Fidelity® funds. Ms. Abigail P. Johnson and Mr. Arthur E. Johnson are not related.
Jennifer Toolin McAuliffe (1959)
Year of Election or Appointment: 2016
Trustee
Ms. McAuliffe also serves as Trustee of other Fidelity® funds and as Trustee of Fidelity Charitable (2020-present). Previously, Ms. McAuliffe served as Co-Head of Fixed Income of Fidelity Investments Limited (now known as FIL Limited (FIL)) (diversified financial services company), Director of Research for FIL’s credit and quantitative teams in London, Hong Kong and Tokyo and Director of Research for taxable and municipal bonds at Fidelity Investments Money Management, Inc. Ms. McAuliffe previously served as a member of the Advisory Board of certain Fidelity® funds (2016). Ms. McAuliffe was previously a lawyer at Ropes & Gray LLP and currently serves as director or trustee of several not-for-profit entities.
* Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.
+ The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for each fund.
Independent Trustees:
Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.
Name, Year of Birth; Principal Occupations and Other Relevant Experience+
Elizabeth S. Acton (1951)
Year of Election or Appointment: 2013
Trustee
Ms. Acton also serves as Trustee of other Fidelity® funds. Prior to her retirement, Ms. Acton served as Executive Vice President, Finance (2011-2012), Executive Vice President, Chief Financial Officer (2002-2011) and Treasurer (2004-2005) of Comerica Incorporated (financial services). Prior to joining Comerica, Ms. Acton held a variety of positions at Ford Motor Company (1983-2002), including Vice President and Treasurer (2000-2002) and Executive Vice President and Chief Financial Officer of Ford Motor Credit Company (1998-2000). Ms. Acton currently serves as a member of the Board and Audit and Finance Committees of Beazer Homes USA, Inc. (homebuilding, 2012-present). Ms. Acton previously served as a member of the Advisory Board of certain Fidelity® funds (2013-2016).
Ann E. Dunwoody (1953)
Year of Election or Appointment: 2018
Trustee
General Dunwoody also serves as Trustee of other Fidelity® funds. General Dunwoody (United States Army, Retired) was the first woman in U.S. military history to achieve the rank of four-star general and prior to her retirement in 2012 held a variety of positions within the U.S. Army, including Commanding General, U.S. Army Material Command (2008-2012). General Dunwoody currently serves as President of First to Four LLC (leadership and mentoring services, 2012-present), a member of the Board and Nomination and Corporate Governance Committees of Kforce Inc. (professional staffing services, 2016-present) and a member of the Board of Automattic Inc. (software engineering, 2018-present). Previously, General Dunwoody served as a member of the Advisory Board and Nominating and Corporate Governance Committee of L3 Technologies, Inc. (communication, electronic, sensor and aerospace systems, 2013-2019) and a member of the Board and Audit and Sustainability and Corporate Responsibility Committees of Republic Services, Inc. (waste collection, disposal and recycling, 2013-2016). Ms. Dunwoody also serves on several boards for non-profit organizations, including as a member of the Board, Chair of the Nomination and Governance Committee and a member of the Audit Committee of Logistics Management Institute (consulting non-profit, 2012-present), a member of the Council of Trustees for the Association of the United States Army (advocacy non-profit, 2013-present), a member of the Board of Florida Institute of Technology (2015-present) and a member of the Board of ThanksUSA (military family education non-profit, 2014-present). General Dunwoody previously served as a member of the Advisory Board of certain Fidelity® funds (2018).
John Engler (1948)
Year of Election or Appointment: 2014
Trustee
Mr. Engler also serves as Trustee of other Fidelity® funds. Previously, Mr. Engler served as Governor of Michigan (1991-2003), President of the Business Roundtable (2011-2017) and interim President of Michigan State University (2018-2019). Mr. Engler currently serves as a member of the Board of Stride, Inc. (formerly K12 Inc.) (technology-based education company, 2012-present). Previously, Mr. Engler served as a member of the Board of Universal Forest Products (manufacturer and distributor of wood and wood-alternative products, 2003-2019) and Trustee of The Munder Funds (2003-2014). Mr. Engler previously served as a member of the Advisory Board of certain Fidelity® funds (2014-2016).
Robert F. Gartland (1951)
Year of Election or Appointment: 2010
Trustee
Mr. Gartland also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Gartland held a variety of positions at Morgan Stanley (financial services, 1979-2007), including Managing Director (1987-2007) and Chase Manhattan Bank (1975-1978). Mr. Gartland previously served as Chairman and an investor in Gartland & Mellina Group Corp. (consulting, 2009-2019), as a member of the Board of National Securities Clearing Corporation (1993-1996) and as Chairman of TradeWeb (2003-2004).
Arthur E. Johnson (1947)
Year of Election or Appointment: 2008
Trustee
Chairman of the Independent Trustees
Mr. Johnson also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Johnson served as Senior Vice President of Corporate Strategic Development of Lockheed Martin Corporation (defense contractor, 1999-2009). Mr. Johnson currently serves as a member of the Board of Booz Allen Hamilton (management consulting, 2011-present). Mr. Johnson previously served as a member of the Board of Eaton Corporation plc (diversified power management, 2009-2019) and a member of the Board of AGL Resources, Inc. (holding company, 2002-2016). Mr. Johnson previously served as Vice Chairman (2015-2018) of the Independent Trustees of certain Fidelity® funds. Mr. Arthur E. Johnson is not related to Ms. Abigail P. Johnson.
Michael E. Kenneally (1954)
Year of Election or Appointment: 2009
Trustee
Vice Chairman of the Independent Trustees
Mr. Kenneally also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Kenneally served as Chairman and Global Chief Executive Officer of Credit Suisse Asset Management and as Executive Vice President and Chief Investment Officer for Bank of America Corporation, where he was responsible for the bank’s money-management products. Previously at Bank of America, Mr. Kenneally managed the principal investment research functions and also spent more than a decade as portfolio manager for various equity and fixed-income funds and institutional accounts. He began his career as a research analyst in 1983 and was awarded the Chartered Financial Analyst (CFA) designation in 1991.
Marie L. Knowles (1946)
Year of Election or Appointment: 2001
Trustee
Ms. Knowles also serves as Trustee of other Fidelity® funds. Prior to her retirement, Ms. Knowles held several positions at Atlantic Richfield Company (diversified energy), including Executive Vice President and Chief Financial Officer (1996-2000), Senior Vice President (1993-1996) and President of ARCO Transportation Company (pipeline and tanker operations, 1993-1996). Ms. Knowles currently serves as a member of the Board of McKesson Corporation (healthcare service, since 2002), a member of the Board of the Santa Catalina Island Company (real estate, 2009-present), a member of the Investment Company Institute Board of Governors and a member of the Governing Council of the Independent Directors Council (2014-present). Ms. Knowles also serves as a member of the Advisory Board for the School of Engineering of the University of Southern California. Ms. Knowles previously served as Chairman (2015-2018) and Vice Chairman (2012-2015) of the Independent Trustees of certain Fidelity® funds.
Mark A. Murray (1954)
Year of Election or Appointment: 2016
Trustee
Mr. Murray also serves as Trustee of other Fidelity® funds. Previously, Mr. Murray served as Co-Chief Executive Officer (2013-2016), President (2006-2013) and Vice Chairman (2013-2020) of Meijer, Inc. Mr. Murray serves as a member of the Board (2009-present) and Public Policy and Responsibility Committee (2009-present) and Chair of the Nuclear Review Committee (2019-present) of DTE Energy Company (diversified energy company). Mr. Murray previously served as a member of the Board of Spectrum Health (not-for-profit health system, 2015-2019) and as a member of the Board and Audit Committee and Chairman of the Nominating and Corporate Governance Committee of Universal Forest Products, Inc. (manufacturer and distributor of wood and wood-alternative products, 2004-2016). Mr. Murray also serves as a member of the Board of many community and professional organizations. Mr. Murray previously served as a member of the Advisory Board of certain Fidelity® funds (2016).
+ The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for each fund.
Advisory Board Members and Officers:
Correspondence intended for an officer may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210. Officers appear below in alphabetical order.
Name, Year of Birth; Principal Occupation
Craig S. Brown (1977)
Year of Election or Appointment: 2019
Assistant Treasurer
Mr. Brown also serves as Assistant Treasurer of other funds. Mr. Brown is an employee of Fidelity Investments (2013-present).
John J. Burke III (1964)
Year of Election or Appointment: 2018
Chief Financial Officer
Mr. Burke also serves as Chief Financial Officer of other funds. Mr. Burke serves as Head of Investment Operations for Fidelity Fund and Investment Operations (2018-present) and is an employee of Fidelity Investments (1998-present). Previously Mr. Burke served as head of Asset Management Investment Operations (2012-2018).
David J. Carter (1973)
Year of Election or Appointment: 2020
Assistant Secretary
Mr. Carter also serves as Assistant Secretary of other funds. Mr. Carter serves as Vice President, Associate General Counsel (2010-present) and is an employee of Fidelity Investments (2005-present).
Jonathan Davis (1968)
Year of Election or Appointment: 2010
Assistant Treasurer
Mr. Davis also serves as Assistant Treasurer of other funds. Mr. Davis serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments. Previously, Mr. Davis served as Vice President and Associate General Counsel of FMR LLC (diversified financial services company, 2003-2010).
Laura M. Del Prato (1964)
Year of Election or Appointment: 2018
President and Treasurer
Ms. Del Prato also serves as an officer of other funds. Ms. Del Prato is an employee of Fidelity Investments (2017-present). Previously, Ms. Del Prato served as President and Treasurer of The North Carolina Capital Management Trust: Cash Portfolio and Term Portfolio (2018-2020). Prior to joining Fidelity Investments, Ms. Del Prato served as a Managing Director and Treasurer of the JPMorgan Mutual Funds (2014-2017). Prior to JPMorgan, Ms. Del Prato served as a partner at Cohen Fund Audit Services (accounting firm, 2012-2013) and KPMG LLP (accounting firm, 2004-2012).
Colm A. Hogan (1973)
Year of Election or Appointment: 2016
Assistant Treasurer
Mr. Hogan also serves as an officer of other funds. Mr. Hogan serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2005-present). Previously, Mr. Hogan served as Deputy Treasurer of certain Fidelity® funds (2016-2020) and Assistant Treasurer of certain Fidelity® funds (2016-2018).
Cynthia Lo Bessette (1969)
Year of Election or Appointment: 2019
Secretary and Chief Legal Officer (CLO)
Ms. Lo Bessette also serves as an officer of other funds. Ms. Lo Bessette serves as CLO, Secretary, and Senior Vice President of Fidelity Management & Research Company LLC (investment adviser firm, 2019-present); and CLO of Fidelity Management & Research (Hong Kong) Limited, FMR Investment Management (UK) Limited, and Fidelity Management & Research (Japan) Limited (investment adviser firms, 2019-present). She is a Senior Vice President and Deputy General Counsel of FMR LLC (diversified financial services company, 2019-present), and is an employee of Fidelity Investments. Previously, Ms. Lo Bessette served as CLO, Secretary, and Senior Vice President of FMR Co., Inc. (investment adviser firm, 2019); Secretary of Fidelity SelectCo, LLC and Fidelity Investments Money Management, Inc. (investment adviser firms, 2019). Prior to joining Fidelity Investments, Ms. Lo Bessette was Executive Vice President, General Counsel (2016-2019) and Senior Vice President, Deputy General Counsel (2015-2016) of OppenheimerFunds (investment management company) and Deputy Chief Legal Officer (2013-2015) of Jennison Associates LLC (investment adviser firm).
Chris Maher (1972)
Year of Election or Appointment: 2013
Assistant Treasurer
Mr. Maher also serves as an officer of other funds. Mr. Maher serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), and is an employee of Fidelity Investments (2008-present). Previously, Mr. Maher served as Assistant Treasurer of certain funds (2013-2020); Vice President of Asset Management Compliance (2013), Vice President of the Program Management Group of FMR (investment adviser firm, 2010-2013), and Vice President of Valuation Oversight (2008-2010).
Kenneth B. Robins (1969)
Year of Election or Appointment: 2020
Chief Compliance Officer
Mr. Robins also serves as an officer of other funds. Mr. Robins serves as Compliance Officer of Fidelity Management & Research Company LLC (investment adviser firm, 2016-present) and is an employee of Fidelity Investments (2004-present). Previously, Mr. Robins served as Compliance Officer of FMR Co., Inc. (investment adviser firm, 2016-2019), as Executive Vice President of Fidelity Investments Money Management, Inc. (investment adviser firm, 2013-2016) and served in other fund officer roles.
Brett Segaloff (1972)
Year of Election or Appointment: 2021
Anti-Money Laundering (AML) Officer
Mr. Segaloff also serves as an AML Officer of other funds and other related entities. He is Director, Anti-Money Laundering (2007-present) of FMR LLC (diversified financial services company) and is an employee of Fidelity Investments (1996-present).
Stacie M. Smith (1974)
Year of Election or Appointment: 2013
Assistant Treasurer
Ms. Smith also serves as an officer of other funds. Ms. Smith serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), is an employee of Fidelity Investments (2009-present), and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Smith served as Senior Audit Manager of Ernst & Young LLP (accounting firm, 1996-2009). Previously, Ms. Smith served as Assistant Treasurer (2013-2019) and Deputy Treasurer (2013-2016) of certain Fidelity® funds.
Marc L. Spector (1972)
Year of Election or Appointment: 2016
Deputy Treasurer
Mr. Spector also serves as an officer of other funds. Mr. Spector serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2016-present). Prior to joining Fidelity Investments, Mr. Spector served as Director at the Siegfried Group (accounting firm, 2013-2016), and prior to Siegfried Group as audit senior manager at Deloitte & Touche LLP (accounting firm, 2005-2013).
Jim Wegmann (1979)
Year of Election or Appointment: 2019
Assistant Treasurer
Mr. Wegmann also serves as Assistant Treasurer of other funds. Mr. Wegmann is an employee of Fidelity Investments (2011-present).
Vadim Zlotnikov (1962)
Year of Election or Appointment: 2019
Vice President
Mr. Zlotnikov also serves as Vice President of other funds. Mr. Zlotnikov serves as President of FIAM (Fidelity Institutional Asset Management) and is an employee of Fidelity Investments (2018-present). Previously, Mr. Zlotnikov served as President and Chief Investment Officer of Global Asset Allocation (2018-2020). Prior to joining Fidelity Investments, Mr. Zlotnikov served as Co-Head of Multi-Asset Solutions, Chief Market Strategist, and CIO of Systematic Strategies with AllianceBernstein (investment adviser firm, 2002-2018).
Shareholder Expense Example
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (October 1, 2020 to March 31, 2021).
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds.
| | Annualized Expense RatioA,B | Beginning
Account Value
October 1, 2020 | Ending
Account Value
March 31, 2021 | Expenses Paid
During Period
October 1, 2020
to March 31, 2021C,D |
| Fidelity Flex Freedom Blend Income Fund | - % | | | |
| Actual | | $1,000.00 | $1,038.30 | $- |
| Hypothetical-E | | $1,000.00 | $1,024.93 | $- |
| Fidelity Flex Freedom Blend 2005 Fund | - % | | | |
| Actual | | $1,000.00 | $1,049.90 | $- |
| Hypothetical-E | | $1,000.00 | $1,024.93 | $- |
| Fidelity Flex Freedom Blend 2010 Fund | - % | | | |
| Actual | | $1,000.00 | $1,072.40 | $- |
| Hypothetical-E | | $1,000.00 | $1,024.93 | $- |
| Fidelity Flex Freedom Blend 2015 Fund | - % | | | |
| Actual | | $1,000.00 | $1,095.50 | $- |
| Hypothetical-E | | $1,000.00 | $1,024.93 | $- |
| Fidelity Flex Freedom Blend 2020 Fund | - % | | | |
| Actual | | $1,000.00 | $1,117.50 | $- |
| Hypothetical-E | | $1,000.00 | $1,024.93 | $- |
| Fidelity Flex Freedom Blend 2025 Fund | - % | | | |
| Actual | | $1,000.00 | $1,133.50 | $- |
| Hypothetical-E | | $1,000.00 | $1,024.93 | $- |
| Fidelity Flex Freedom Blend 2030 Fund | - % | | | |
| Actual | | $1,000.00 | $1,154.80 | $- |
| Hypothetical-E | | $1,000.00 | $1,024.93 | $- |
| Fidelity Flex Freedom Blend 2035 Fund | - % | | | |
| Actual | | $1,000.00 | $1,194.60 | $- |
| Hypothetical-E | | $1,000.00 | $1,024.93 | $- |
| Fidelity Flex Freedom Blend 2040 Fund | - % | | | |
| Actual | | $1,000.00 | $1,221.00 | $- |
| Hypothetical-E | | $1,000.00 | $1,024.93 | $- |
| Fidelity Flex Freedom Blend 2045 Fund | - % | | | |
| Actual | | $1,000.00 | $1,221.50 | $- |
| Hypothetical-E | | $1,000.00 | $1,024.93 | $- |
| Fidelity Flex Freedom Blend 2050 Fund | - % | | | |
| Actual | | $1,000.00 | $1,220.90 | $- |
| Hypothetical-E | | $1,000.00 | $1,024.93 | $- |
| Fidelity Flex Freedom Blend 2055 Fund | - % | | | |
| Actual | | $1,000.00 | $1,221.40 | $- |
| Hypothetical-E | | $1,000.00 | $1,024.93 | $- |
| Fidelity Flex Freedom Blend 2060 Fund | - % | | | |
| Actual | | $1,000.00 | $1,220.90 | $- |
| Hypothetical-E | | $1,000.00 | $1,024.93 | $- |
| Fidelity Flex Freedom Blend 2065 Fund | - % | | | |
| Actual | | $1,000.00 | $1,221.60 | $- |
| Hypothetical-E | | $1,000.00 | $1,024.93 | $- |
A Annualized expense ratio reflects expenses net of applicable fee waivers.
B Amount represents less than .005%.
C Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 365 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
D Amount represents less than $.005.
E 5% return per year before expenses
Distributions (Unaudited)
The Board of Trustees of each fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities, and dividends derived from net investment income:
| | Pay Date | Record Date | Dividends | Capital Gains |
| Fidelity Flex Freedom Blend Income Fund | 05/10/21 | 05/07/21 | $0.007 | $0.118 |
| Fidelity Flex Freedom Blend 2005 Fund | 05/10/21 | 05/07/21 | $0.023 | $0.147 |
| Fidelity Flex Freedom Blend 2010 Fund | 05/10/21 | 05/07/21 | $0.022 | $0.183 |
| Fidelity Flex Freedom Blend 2015 Fund | 05/10/21 | 05/07/21 | $0.020 | $0.216 |
| Fidelity Flex Freedom Blend 2020 Fund | 05/10/21 | 05/07/21 | $0.019 | $0.236 |
| Fidelity Flex Freedom Blend 2025 Fund | 05/10/21 | 05/07/21 | $0.017 | $0.256 |
| Fidelity Flex Freedom Blend 2030 Fund | 05/10/21 | 05/07/21 | $0.015 | $0.282 |
| Fidelity Flex Freedom Blend 2035 Fund | 05/10/21 | 05/07/21 | $0.010 | $0.303 |
| Fidelity Flex Freedom Blend 2040 Fund | 05/10/21 | 05/07/21 | $0.005 | $0.336 |
| Fidelity Flex Freedom Blend 2045 Fund | 05/10/21 | 05/07/21 | $0.005 | $0.337 |
| Fidelity Flex Freedom Blend 2050 Fund | 05/10/21 | 05/07/21 | $0.006 | $0.329 |
| Fidelity Flex Freedom Blend 2055 Fund | 05/10/21 | 05/07/21 | $0.005 | $0.338 |
| Fidelity Flex Freedom Blend 2060 Fund | 05/10/21 | 05/07/21 | $0.006 | $0.337 |
| Fidelity Flex Freedom Blend 2065 Fund | 05/10/21 | 05/07/21 | $0.005 | $0.332 |
|
The funds hereby designate as capital gain dividend the amounts noted below for the taxable year ended March 31, 2021, or, if subsequently determined to be different, the net capital gain of such year.
| Fidelity Flex Freedom Blend Income Fund | $1,835 |
| Fidelity Flex Freedom Blend 2005 Fund | $2,438 |
| Fidelity Flex Freedom Blend 2010 Fund | $3,195 |
| Fidelity Flex Freedom Blend 2015 Fund | $4,139 |
| Fidelity Flex Freedom Blend 2020 Fund | $4,847 |
| Fidelity Flex Freedom Blend 2025 Fund | $5,463 |
| Fidelity Flex Freedom Blend 2030 Fund | $6,266 |
| Fidelity Flex Freedom Blend 2035 Fund | $7,207 |
| Fidelity Flex Freedom Blend 2040 Fund | $7,676 |
| Fidelity Flex Freedom Blend 2045 Fund | $7,657 |
| Fidelity Flex Freedom Blend 2050 Fund | $7,634 |
| Fidelity Flex Freedom Blend 2055 Fund | $7,704 |
| Fidelity Flex Freedom Blend 2060 Fund | $7,709 |
| Fidelity Flex Freedom Blend 2065 Fund | $6,522 |
|
A percentage of the dividends distributed during the fiscal year for the following funds were derived from interest on U.S. Government securities which is generally exempt from state income tax:
| Fidelity Flex Freedom Blend Income Fund | 26.30% |
| Fidelity Flex Freedom Blend 2005 Fund | 23.22% |
| Fidelity Flex Freedom Blend 2010 Fund | 18.78% |
| Fidelity Flex Freedom Blend 2015 Fund | 15.29% |
| Fidelity Flex Freedom Blend 2020 Fund | 12.63% |
| Fidelity Flex Freedom Blend 2025 Fund | 10.96% |
| Fidelity Flex Freedom Blend 2030 Fund | 9.15% |
| Fidelity Flex Freedom Blend 2035 Fund | 5.89% |
| Fidelity Flex Freedom Blend 2040 Fund | 4.37% |
| Fidelity Flex Freedom Blend 2045 Fund | 4.37% |
| Fidelity Flex Freedom Blend 2050 Fund | 4.37% |
| Fidelity Flex Freedom Blend 2055 Fund | 4.37% |
| Fidelity Flex Freedom Blend 2060 Fund | 4.37% |
| Fidelity Flex Freedom Blend 2065 Fund | 4.37% |
|
A percentage of the dividends distributed during the fiscal year for the following funds qualify for the dividends–received deduction for corporate shareholders:
| Fidelity Flex Freedom Blend Income Fund | |
| April 2020 | 0% |
| May 5/1/2020 | 2% |
| May 5/8/2020 | 4% |
| June 2020 | 4% |
| July 2020 | 4% |
| August 2020 | 4% |
| September 2020 | 4% |
| October 2020 | 4% |
| November 2020 | 4% |
| December 2020 | 4% |
| February 2021 | 2% |
| March 2021 | 2% |
| Fidelity Flex Freedom Blend 2005 Fund | |
| May 2020 | 1% |
| December 2020 | 6% |
| Fidelity Flex Freedom Blend 2010 Fund | |
| May 2020 | 2% |
| December 2020 | 10% |
| Fidelity Flex Freedom Blend 2015 Fund | |
| May 2020 | 3% |
| December 2020 | 13% |
| Fidelity Flex Freedom Blend 2020 Fund | |
| May 2020 | 3% |
| December 2020 | 16% |
| Fidelity Flex Freedom Blend 2025 Fund | |
| May 2020 | 4% |
| December 2020 | 19% |
| Fidelity Flex Freedom Blend 2030 Fund | |
| May 2020 | 5% |
| December 2020 | 21% |
| Fidelity Flex Freedom Blend 2035 Fund | |
| May 2020 | 11% |
| December 2020 | 27% |
| Fidelity Flex Freedom Blend 2040 Fund | |
| May 2020 | 24% |
| December 2020 | 32% |
| Fidelity Flex Freedom Blend 2045 Fund | |
| May 2020 | 28% |
| December 2020 | 32% |
| Fidelity Flex Freedom Blend 2050 Fund | |
| May 2020 | 27% |
| December 2020 | 32% |
| Fidelity Flex Freedom Blend 2055 Fund | |
| May 2020 | 17% |
| December 2020 | 32% |
| Fidelity Flex Freedom Blend 2060 Fund | |
| May 2020 | 16% |
| December 2020 | 32% |
| Fidelity Flex Freedom Blend 2065 Fund | |
| May 2020 | 10% |
| December 2020 | 31% |
|
A percentage of the dividends distributed during the fiscal year for the following funds may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.
| Fidelity Flex Freedom Blend Income Fund | |
| April 2020 | 0% |
| May 5/1/2020 | 6% |
| May 5/8/2020 | 12% |
| June 2020 | 12% |
| July 2020 | 12% |
| August 2020 | 12% |
| September 2020 | 12% |
| October 2020 | 12% |
| November 2020 | 12% |
| December 2020 | 12% |
| February 2021 | 3% |
| March 2021 | 3% |
| Fidelity Flex Freedom Blend 2005 Fund | |
| May 2020 | 2% |
| December 2020 | 16% |
| Fidelity Flex Freedom Blend 2010 Fund | |
| May 2020 | 3% |
| December 2020 | 21% |
| Fidelity Flex Freedom Blend 2015 Fund | |
| May 2020 | 4% |
| December 2020 | 28% |
| Fidelity Flex Freedom Blend 2020 Fund | |
| May 2020 | 4% |
| December 2020 | 33% |
| Fidelity Flex Freedom Blend 2025 Fund | |
| May 2020 | 6% |
| December 2020 | 37% |
| Fidelity Flex Freedom Blend 2030 Fund | |
| May 2020 | 6% |
| December 2020 | 42% |
| Fidelity Flex Freedom Blend 2035 Fund | |
| May 2020 | 13% |
| December 2020 | 53% |
| Fidelity Flex Freedom Blend 2040 Fund | |
| May 2020 | 30% |
| December 2020 | 60% |
| Fidelity Flex Freedom Blend 2045 Fund | |
| May 2020 | 32% |
| December 2020 | 61% |
| Fidelity Flex Freedom Blend 2050 Fund | |
| May 2020 | 33% |
| December 2020 | 61% |
| Fidelity Flex Freedom Blend 2055 Fund | |
| May 2020 | 22% |
| December 2020 | 61% |
| Fidelity Flex Freedom Blend 2060 Fund | |
| May 2020 | 18% |
| December 2020 | 61% |
| Fidelity Flex Freedom Blend 2065 Fund | |
| May 2020 | 12% |
| December 2020 | 60% |
|
A percentage of the dividends distributed during the fiscal year for the following funds qualify as a section 199A dividend:
| Fidelity Flex Freedom Blend Income Fund | |
| April 2020 | 0% |
| May 5/1/2020 | 1% |
| May 5/8/2020 | 1% |
| June 2020 | 1% |
| July 2020 | 1% |
| August 2020 | 1% |
| September 2020 | 1% |
| October 2020 | 1% |
| November 2020 | 1% |
| December 2020 | 1% |
| February 2021 | 0% |
| March 2021 | 0% |
| Fidelity Flex Freedom Blend 2005 Fund | |
| May 2020 | 1% |
| December 2020 | 1% |
| Fidelity Flex Freedom Blend 2010 Fund | |
| May 2020 | 1% |
| December 2020 | 1% |
| Fidelity Flex Freedom Blend 2015 Fund | |
| May 2020 | 1% |
| December 2020 | 2% |
| Fidelity Flex Freedom Blend 2020 Fund | |
| May 2020 | 1% |
| December 2020 | 2% |
| Fidelity Flex Freedom Blend 2025 Fund | |
| May 2020 | 1% |
| December 2020 | 2% |
| Fidelity Flex Freedom Blend 2030 Fund | |
| May 2020 | 1% |
| December 2020 | 2% |
| Fidelity Flex Freedom Blend 2035 Fund | |
| May 2020 | 1% |
| December 2020 | 2% |
| Fidelity Flex Freedom Blend 2040 Fund | |
| May 2020 | 2% |
| December 2020 | 3% |
| Fidelity Flex Freedom Blend 2045 Fund | |
| May 2020 | 2% |
| December 2020 | 3% |
| Fidelity Flex Freedom Blend 2050 Fund | |
| May 2020 | 2% |
| December 2020 | 3% |
| Fidelity Flex Freedom Blend 2055 Fund | |
| May 2020 | 1% |
| December 2020 | 3% |
| Fidelity Flex Freedom Blend 2060 Fund | |
| May 2020 | 1% |
| December 2020 | 3% |
| Fidelity Flex Freedom Blend 2065 Fund | |
| May 2020 | 1% |
| December 2020 | 3% |
|
The funds will notify shareholders in January 2022 of amounts for use in preparing 2021 income tax returns.
Liquidity Risk Management Program
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Funds have adopted and implemented a liquidity risk management program pursuant to the Liquidity Rule (the Program) effective December 1, 2018. The Program is reasonably designed to assess and manage each Fund’s liquidity risk and to comply with the requirements of the Liquidity Rule. Each Fund’s Board of Trustees (the Board) has designated each Fund’s investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund’s liquidity risk based on a variety of factors including (1) the Fund’s investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) in the case of exchange-traded funds, certain additional factors including the effect of the Fund’s prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund’s portfolio, as applicable.
In accordance with the Program, each of the Fund’s portfolio investments is classified into one of four liquidity categories described below based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
- Highly liquid investments – cash or convertible to cash within three business days or less
- Moderately liquid investments – convertible to cash in three to seven calendar days
- Less liquid investments – can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments – cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund’s illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund’s net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM). The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund’s Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of implementation of the Program for the annual period from December 1, 2019 through November 30, 2020. The report concluded that the Program has been implemented and is operating effectively and is reasonably designed to assess and manage the Fund’s liquidity risk.
XFC-ANN-0521
1.9884226.103
Fidelity Freedom® Blend Funds - Income, 2005, 2010, 2015, 2020, 2025, 2030, 2035, 2040, 2045, 2050, 2055, 2060, 2065
Annual Report
March 31, 2021
Includes Fidelity and Fidelity Advisor share classes
Contents
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This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Funds nor Fidelity Distributors Corporation is a bank.
Note to Shareholders:
Early in 2020, the outbreak and spread of a new coronavirus emerged as a public health emergency that had a major influence on financial markets, primarily based on its impact on the global economy and the outlook for corporate earnings. The virus causes a respiratory disease known as COVID-19. On March 11, 2020 the World Health Organization declared the COVID-19 outbreak a pandemic, citing sustained risk of further global spread.
In the weeks following, as the crisis worsened, we witnessed an escalating human tragedy with wide-scale social and economic consequences from coronavirus-containment measures. The outbreak of COVID-19 prompted a number of measures to limit the spread, including travel and border restrictions, quarantines, and restrictions on large gatherings. In turn, these resulted in lower consumer activity, diminished demand for a wide range of products and services, disruption in manufacturing and supply chains, and – given the wide variability in outcomes regarding the outbreak – significant market uncertainty and volatility. Amid the turmoil, global governments and central banks took unprecedented action to help support consumers, businesses, and the broader economies, and to limit disruption to financial systems.
The situation continues to unfold, and the extent and duration of its impact on financial markets and the economy remain highly uncertain. Extreme events such as the coronavirus crisis are “exogenous shocks” that can have significant adverse effects on mutual funds and their investments. Although multiple asset classes may be affected by market disruption, the duration and impact may not be the same for all types of assets.
Fidelity is committed to helping you stay informed amid news about COVID-19 and during increased market volatility, and we’re taking extra steps to be responsive to customer needs. We encourage you to visit our websites, where we offer ongoing updates, commentary, and analysis on the markets and our funds.
Fidelity Freedom® Blend Income Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Class A (incl. 5.75% sales charge) | 5.50% | 3.48% |
| Class M (incl. 3.50% sales charge) | 7.74% | 4.16% |
| Class C (incl. contingent deferred sales charge) | 10.10% | 5.09% |
| Fidelity Freedom® Blend Income Fund | 12.29% | 6.15% |
| Class K | 12.37% | 6.28% |
| Class K6 | 12.50% | 6.37% |
| Class I | 12.32% | 6.17% |
| Class Z | 12.41% | 6.27% |
| Class Z6 | 12.47% | 6.38% |
A From August 31, 2018
Class C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Blend Income Fund, a class of the fund, on August 31, 2018, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $11,667 | Fidelity Freedom® Blend Income Fund |
| $11,404 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Freedom® Blend 2005 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Class A (incl. 5.75% sales charge) | 8.24% | 4.03% |
| Class M (incl. 3.50% sales charge) | 10.57% | 4.72% |
| Class C (incl. contingent deferred sales charge) | 13.06% | 5.66% |
| Fidelity Freedom® Blend 2005 Fund | 15.13% | 6.72% |
| Class K | 15.26% | 6.83% |
| Class K6 | 15.38% | 6.94% |
| Class I | 15.24% | 6.73% |
| Class Z | 15.34% | 6.84% |
| Class Z6 | 15.45% | 6.93% |
A From August 31, 2018
Class C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Blend 2005 Fund, a class of the fund, on August 31, 2018, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $11,829 | Fidelity Freedom® Blend 2005 Fund |
| $11,404 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Freedom® Blend 2010 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Class A (incl. 5.75% sales charge) | 13.06% | 5.03% |
| Class M (incl. 3.50% sales charge) | 15.56% | 5.74% |
| Class C (incl. contingent deferred sales charge) | 18.05% | 6.66% |
| Fidelity Freedom® Blend 2010 Fund | 20.28% | 7.74% |
| Class K | 20.40% | 7.85% |
| Class K6 | 20.60% | 7.96% |
| Class I | 20.25% | 7.74% |
| Class Z | 20.42% | 7.86% |
| Class Z6 | 20.55% | 7.95% |
A From August 31, 2018
Class C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Blend 2010 Fund, a class of the fund, on August 31, 2018, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $12,124 | Fidelity Freedom® Blend 2010 Fund |
| $11,404 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Freedom® Blend 2015 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Class A (incl. 5.75% sales charge) | 18.07% | 6.00% |
| Class M (incl. 3.50% sales charge) | 20.49% | 6.71% |
| Class C (incl. contingent deferred sales charge) | 23.28% | 7.67% |
| Fidelity Freedom® Blend 2015 Fund | 25.50% | 8.73% |
| Class K | 25.74% | 8.86% |
| Class K6 | 25.71% | 8.94% |
| Class I | 25.55% | 8.75% |
| Class Z | 25.70% | 8.86% |
| Class Z6 | 25.84% | 8.94% |
A From August 31, 2018
Class C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Blend 2015 Fund, a class of the fund, on August 31, 2018, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the Bloomberg Barclays U.S. Aggregate Bond Index performed over the same period.
| Period Ending Values |
| $12,413 | Fidelity Freedom® Blend 2015 Fund |
| $11,404 | Bloomberg Barclays U.S. Aggregate Bond Index |
Fidelity Freedom® Blend 2020 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Class A (incl. 5.75% sales charge) | 22.78% | 6.94% |
| Class M (incl. 3.50% sales charge) | 25.58% | 7.68% |
| Class C (incl. contingent deferred sales charge) | 28.38% | 8.60% |
| Fidelity Freedom® Blend 2020 Fund | 30.61% | 9.69% |
| Class K | 30.84% | 9.82% |
| Class K6 | 30.88% | 9.91% |
| Class I | 30.71% | 9.70% |
| Class Z | 30.77% | 9.80% |
| Class Z6 | 30.88% | 9.92% |
A From August 31, 2018
Class C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Blend 2020 Fund, a class of the fund, on August 31, 2018, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $12,700 | Fidelity Freedom® Blend 2020 Fund |
| $14,376 | S&P 500® Index |
Fidelity Freedom® Blend 2025 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Class A (incl. 5.75% sales charge) | 26.68% | 7.67% |
| Class M (incl. 3.50% sales charge) | 29.28% | 8.37% |
| Class C (incl. contingent deferred sales charge) | 32.37% | 9.34% |
| Fidelity Freedom® Blend 2025 Fund | 34.74% | 10.45% |
| Class K | 34.83% | 10.55% |
| Class K6 | 34.86% | 10.64% |
| Class I | 34.69% | 10.44% |
| Class Z | 34.72% | 10.53% |
| Class Z6 | 34.98% | 10.65% |
A From August 31, 2018
Class C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Blend 2025 Fund, a class of the fund, on August 31, 2018, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $12,928 | Fidelity Freedom® Blend 2025 Fund |
| $14,376 | S&P 500® Index |
Fidelity Freedom® Blend 2030 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Class A (incl. 5.75% sales charge) | 31.70% | 8.39% |
| Class M (incl. 3.50% sales charge) | 34.65% | 9.11% |
| Class C (incl. contingent deferred sales charge) | 37.75% | 10.05% |
| Fidelity Freedom® Blend 2030 Fund | 40.16% | 11.18% |
| Class K | 40.29% | 11.30% |
| Class K6 | 40.33% | 11.40% |
| Class I | 40.19% | 11.18% |
| Class Z | 40.22% | 11.29% |
| Class Z6 | 40.39% | 11.41% |
A From August 31, 2018
Class C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Blend 2030 Fund, a class of the fund, on August 31, 2018, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $13,150 | Fidelity Freedom® Blend 2030 Fund |
| $14,376 | S&P 500® Index |
Fidelity Freedom® Blend 2035 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Class A (incl. 5.75% sales charge) | 40.86% | 9.64% |
| Class M (incl. 3.50% sales charge) | 43.70% | 10.36% |
| Class C (incl. contingent deferred sales charge) | 47.25% | 11.35% |
| Fidelity Freedom® Blend 2035 Fund | 49.72% | 12.45% |
| Class K | 49.96% | 12.57% |
| Class K6 | 50.08% | 12.70% |
| Class I | 49.67% | 12.45% |
| Class Z | 49.87% | 12.56% |
| Class Z6 | 49.96% | 12.68% |
A From August 31, 2018
Class C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Blend 2035 Fund, a class of the fund, on August 31, 2018, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $13,541 | Fidelity Freedom® Blend 2035 Fund |
| $14,376 | S&P 500® Index |
Fidelity Freedom® Blend 2040 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Class A (incl. 5.75% sales charge) | 46.60% | 10.45% |
| Class M (incl. 3.50% sales charge) | 49.64% | 11.17% |
| Class C (incl. contingent deferred sales charge) | 53.23% | 12.17% |
| Fidelity Freedom® Blend 2040 Fund | 55.89% | 13.29% |
| Class K | 55.97% | 13.40% |
| Class K6 | 56.11% | 13.53% |
| Class I | 55.73% | 13.29% |
| Class Z | 55.93% | 13.41% |
| Class Z6 | 56.23% | 13.53% |
A From August 31, 2018
Class C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Blend 2040 Fund, a class of the fund, on August 31, 2018, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $13,805 | Fidelity Freedom® Blend 2040 Fund |
| $14,376 | S&P 500® Index |
Fidelity Freedom® Blend 2045 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Class A (incl. 5.75% sales charge) | 46.37% | 10.40% |
| Class M (incl. 3.50% sales charge) | 49.61% | 11.13% |
| Class C (incl. contingent deferred sales charge) | 53.21% | 12.13% |
| Fidelity Freedom® Blend 2045 Fund | 55.82% | 13.26% |
| Class K | 56.03% | 13.38% |
| Class K6 | 56.12% | 13.49% |
| Class I | 55.74% | 13.26% |
| Class Z | 55.96% | 13.38% |
| Class Z6 | 56.16% | 13.50% |
A From August 31, 2018
Class C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Blend 2045 Fund, a class of the fund, on August 31, 2018, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $13,795 | Fidelity Freedom® Blend 2045 Fund |
| $14,376 | S&P 500® Index |
Fidelity Freedom® Blend 2050 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Class A (incl. 5.75% sales charge) | 46.50% | 10.42% |
| Class M (incl. 3.50% sales charge) | 49.60% | 11.12% |
| Class C (incl. contingent deferred sales charge) | 53.21% | 12.10% |
| Fidelity Freedom® Blend 2050 Fund | 55.91% | 13.26% |
| Class K | 55.95% | 13.37% |
| Class K6 | 56.13% | 13.46% |
| Class I | 55.81% | 13.24% |
| Class Z | 56.08% | 13.37% |
| Class Z6 | 56.23% | 13.48% |
A From August 31, 2018
Class C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Blend 2050 Fund, a class of the fund, on August 31, 2018, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $13,793 | Fidelity Freedom® Blend 2050 Fund |
| $14,376 | S&P 500® Index |
Fidelity Freedom® Blend 2055 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Class A (incl. 5.75% sales charge) | 46.50% | 10.41% |
| Class M (incl. 3.50% sales charge) | 49.52% | 11.16% |
| Class C (incl. contingent deferred sales charge) | 53.23% | 12.14% |
| Fidelity Freedom® Blend 2055 Fund | 55.75% | 13.26% |
| Class K | 55.92% | 13.39% |
| Class K6 | 56.09% | 13.48% |
| Class I | 55.85% | 13.27% |
| Class Z | 56.03% | 13.39% |
| Class Z6 | 56.10% | 13.48% |
A From August 31, 2018
Class C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Blend 2055 Fund, a class of the fund, on August 31, 2018, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $13,794 | Fidelity Freedom® Blend 2055 Fund |
| $14,376 | S&P 500® Index |
Fidelity Freedom® Blend 2060 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Class A (incl. 5.75% sales charge) | 46.44% | 10.37% |
| Class M (incl. 3.50% sales charge) | 49.63% | 11.13% |
| Class C (incl. contingent deferred sales charge) | 53.17% | 12.10% |
| Fidelity Freedom® Blend 2060 Fund | 55.78% | 13.24% |
| Class K | 56.01% | 13.37% |
| Class K6 | 56.17% | 13.48% |
| Class I | 55.83% | 13.23% |
| Class Z | 55.93% | 13.37% |
| Class Z6 | 56.07% | 13.46% |
A From August 31, 2018
Class C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Blend 2060 Fund, a class of the fund, on August 31, 2018, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $13,788 | Fidelity Freedom® Blend 2060 Fund |
| $14,376 | S&P 500® Index |
Fidelity Freedom® Blend 2065 Fund
Performance: The Bottom Line
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund’s total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
| For the periods ended March 31, 2021 | Past 1 year | Life of fundA |
| Class A (incl. 5.75% sales charge) | 46.41% | 14.47% |
| Class M (incl. 3.50% sales charge) | 49.48% | 15.74% |
| Class C (incl. contingent deferred sales charge) | 53.22% | 17.56% |
| Fidelity Freedom® Blend 2065 Fund | 55.69% | 18.72% |
| Class K | 55.98% | 18.83% |
| Class K6 | 56.09% | 18.95% |
| Class I | 55.77% | 18.70% |
| Class Z | 55.86% | 18.85% |
| Class Z6 | 55.98% | 18.93% |
A From June 28, 2019
Class C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.
$10,000 Over Life of Fund
Let's say hypothetically that $10,000 was invested in Fidelity Freedom® Blend 2065 Fund, a class of the fund, on June 28, 2019, when the fund started.
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
| Period Ending Values |
| $13,502 | Fidelity Freedom® Blend 2065 Fund |
| $13,944 | S&P 500® Index |
Management's Discussion of Fund Performance
Market Recap: For the 12 months ending March 31, 2021, global financial markets were influenced by a number of factors, including elevated volatility resulting from the early-2020 outbreak and spread of COVID-19. The pandemic coincided with equities suffering one of the quickest declines on record, followed by a historic rebound through March 31, driven by global economies reopening, ongoing fiscal and monetary stimulus, and the widespread distribution of COVID-19 vaccines. Many economists raised their expectations for a powerful recovery, as opposed to the sluggish rebound they had been anticipating. In the first quarter of 2021, riskier asset prices and bond yields rose amid the progressing global recovery.
Within this environment, the MSCI ACWI (All Country World Index) ex USA Index gained 49.62% for the 12 months. Canada (+61%) and emerging markets (+59%) fared best among regions. Asia Pacific ex Japan (+52%) also topped the broader market. Conversely, the U.K. (+34%) and Japan (+40%) notably lagged and Europe ex U.K. gained about 50%. By sector, information technology (+83%) led the way, boosted by the semiconductors & semiconductor equipment group (+128%). Materials (+77%), consumer discretionary (+66%) and industrials (+58%) also outperformed. In contrast, notable laggards included four defensive sectors: consumer staples and health care (+23% each) and utilities and real estate (+29% each).
The Dow Jones U.S. Total Stock Market Index gained 62.68% the past 12 months. Among sectors, economically sensitive groups fared best, led by consumer discretionary (+98%), energy and materials (+83% each), industrials (+74%), and information technology (+70%). In contrast, utilities (+19%) fared worst by a wide margin, followed by consumer staples (+31%). Small-cap stocks, as measured by the Russell 2000
® Index (+94.85%), handily topped the large-cap-oriented S&P 500
® index (+56.35%) the past 12 months. From a style standpoint, value stocks outpaced growth in the smaller-cap segment of the broader market, while growth topped value among large-caps. Commodities, as measured by the Bloomberg Barclays Commodity Index Total Return, rose 35.04%.
Within fixed income, U.S. taxable investment-grade bonds, as measured by the Bloomberg Barclays U.S. Aggregate Bond Index, gained 0.71% the past 12 months. Treasury Inflation-Protected Securities (+8.12%) and corporate bonds (+7.88%) outperformed the broader investment-grade bond index. Long-term (-15.80%) and short-term (+0.13%) U.S. Treasuries underperformed, as did government-related securities (-4.26%). Commercial mortgage-backed securities (+4.36%) and asset-backed securities (+4.57%) each lagged, whereas leveraged loans (+21.93%), high-yield bonds (+20.31%) and emerging-market debt (+14.29%) stood out.
Comments from Co-Portfolio Managers Andrew Dierdorf and Brett Sumsion: For the fiscal year, returns for the Freedom Blend Funds' share classes (excluding sales charges, if applicable) ranged from roughly 12% for the more-income-oriented Funds – earmarked for investors with a shorter retirement-savings horizon – to about 56% for the more-equity-oriented Funds, suited to investors with a longer retirement-savings horizon. Each Fund outperformed its Composite index the past 12 months. Security selection among the underlying investment portfolios primarily drove the Funds’ outperformance of Composite indexes. Active asset allocation decisions boosted the Funds' relative results to a lesser extent. Specifically, strong performance among underlying U.S. equity funds contributed most. In this asset class, Fidelity
® Series Blue Chip Growth Fund (+97.44%) was the top contributor, outperforming the 62.74% advance of its benchmark, the Russell 1000
® Growth Index. Active management among non-U.S. equities also helped the Funds outperform Composites. Fidelity
® Series Emerging Markets Fund (+69.89%) was a key outperformer, besting the 58.41% advance of its benchmark, the MSCI Emerging Markets Index. In investment-grade bonds, an investment in Fidelity
® Series Investment Grade Bond Fund (+6.50%) helped, as this fund topped the 0.71% return of the Bloomberg Barclays U.S. Aggregate Bond Index. In terms of active asset allocation, underweighting investment-grade bonds contributed most, as this asset class lagged most others in which the Funds invest. The Funds' relative performance also got a boost from overweighting non-U.S. equities, particularly emerging-markets equities. Conversely, underweighting U.S. equities detracted most. Overweighting short-term debt securities and inflation-protected debt securities also held back relative performance.
The views expressed above reflect those of the portfolio manager(s) only through the end of the period as stated on the cover of this report and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity fund.
Fidelity Freedom® Blend Income Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Treasury Bill Index Fund | 12.0 |
| Fidelity Series Inflation-Protected Bond Index Fund | 12.0 |
| Fidelity Series Investment Grade Bond Fund | 11.6 |
| Fidelity Series Government Bond Index Fund | 10.4 |
| Fidelity Series Corporate Bond Fund | 8.5 |
| Fidelity Series Investment Grade Securitized Fund | 8.1 |
| Fidelity Series Government Money Market Fund 0.08% | 7.6 |
| Fidelity Series Emerging Markets Opportunities Fund | 6.4 |
| Fidelity Series Short-Term Credit Fund | 3.7 |
| Fidelity Series Commodity Strategy Fund | 2.8 |
| | 83.1 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 9.2% |
| | International Equity Funds | 12.4% |
| | Bond Funds | 55.1% |
| | Short-Term Funds | 23.3% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® Blend Income Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 9.2% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 51,291 | $892,970 |
| Fidelity Series Commodity Strategy Fund (a) | | 351,889 | 1,724,256 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 35,710 | 563,503 |
| Fidelity Series Large Cap Stock Fund (a) | | 33,342 | 615,159 |
| Fidelity Series Large Cap Value Index Fund (a) | | 79,983 | 1,174,946 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 16,774 | 297,236 |
| Fidelity Series Value Discovery Fund (a) | | 27,270 | 434,135 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $4,594,675) | | | 5,702,205 |
|
| International Equity Funds - 12.4% | | | |
| Fidelity Series Canada Fund (a) | | 24,838 | 317,176 |
| Fidelity Series Emerging Markets Fund (a) | | 38,033 | 444,602 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 155,769 | 3,997,024 |
| Fidelity Series International Growth Fund (a) | | 43,479 | 780,015 |
| Fidelity Series International Index Fund (a) | | 27,880 | 325,642 |
| Fidelity Series International Small Cap Fund (a) | | 13,577 | 281,307 |
| Fidelity Series International Value Fund (a) | | 71,808 | 779,121 |
| Fidelity Series Overseas Fund (a) | | 61,961 | 781,330 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $5,796,919) | | | 7,706,217 |
|
| Bond Funds - 55.1% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 483,631 | 5,247,396 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 37,416 | 339,733 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 11,331 | 113,537 |
| Fidelity Series Floating Rate High Income Fund (a) | | 7,447 | 68,439 |
| Fidelity Series Government Bond Index Fund (a) | | 617,915 | 6,469,567 |
| Fidelity Series High Income Fund (a) | | 42,033 | 394,272 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 693,070 | 7,443,571 |
| Fidelity Series Investment Grade Bond Fund (a) | | 622,797 | 7,180,846 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 488,455 | 5,031,089 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 215,106 | 1,699,334 |
| Fidelity Series Real Estate Income Fund (a) | | 21,371 | 236,145 |
| TOTAL BOND FUNDS | | | |
| (Cost $33,816,113) | | | 34,223,929 |
|
| Short-Term Funds - 23.3% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 49 | 49 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 4,686,510 | 4,686,510 |
| Fidelity Series Short-Term Credit Fund (a) | | 227,285 | 2,311,484 |
| Fidelity Series Treasury Bill Index Fund (a) | | 744,682 | 7,446,826 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $14,412,828) | | | 14,444,869 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $58,620,535) | | | 62,077,220 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (16,029) |
| NET ASSETS - 100% | | | $62,061,191 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $355,531 | $1,046,430 | $699,585 | $274,915 | $30,067 | $160,527 | $892,970 |
| Fidelity Series Canada Fund | 235,871 | 194,058 | 237,505 | 6,689 | (10,146) | 134,898 | 317,176 |
| Fidelity Series Commodity Strategy Fund | 1,480,023 | 1,059,101 | 1,238,511 | 6,324 | (67,944) | 491,587 | 1,724,256 |
| Fidelity Series Corporate Bond Fund | 3,341,347 | 3,278,255 | 1,556,502 | 188,246 | (7,651) | 191,947 | 5,247,396 |
| Fidelity Series Emerging Markets Debt Fund | 273,292 | 208,386 | 180,674 | 17,125 | (2,026) | 40,755 | 339,733 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 141,281 | 26,084 | 1,696 | 129 | (1,789) | 113,537 |
| Fidelity Series Emerging Markets Fund | 181,052 | 345,146 | 261,204 | 6,627 | 10,674 | 168,934 | 444,602 |
| Fidelity Series Emerging Markets Opportunities Fund | 1,794,359 | 2,999,392 | 2,382,024 | 126,456 | 130,455 | 1,454,842 | 3,997,024 |
| Fidelity Series Floating Rate High Income Fund | 59,053 | 47,846 | 48,149 | 3,289 | (241) | 9,930 | 68,439 |
| Fidelity Series Government Bond Index Fund | 5,206,475 | 3,885,245 | 2,151,730 | 166,777 | (24,415) | (446,008) | 6,469,567 |
| Fidelity Series Government Money Market Fund 0.08% | 2,245,847 | 8,020,800 | 5,580,137 | 6,221 | -- | -- | 4,686,510 |
| Fidelity Series High Income Fund | 299,437 | 246,469 | 198,625 | 21,760 | (19) | 47,010 | 394,272 |
| Fidelity Series Inflation-Protected Bond Index Fund | 5,263,372 | 4,061,987 | 2,259,463 | 99,932 | 1,619 | 376,056 | 7,443,571 |
| Fidelity Series International Growth Fund | 697,239 | 609,611 | 681,656 | 118,622 | 10,494 | 144,327 | 780,015 |
| Fidelity Series International Index Fund | 252,292 | 218,787 | 255,503 | 6,613 | (2,223) | 112,289 | 325,642 |
| Fidelity Series International Small Cap Fund | 201,686 | 146,876 | 178,168 | 2,604 | 6,639 | 104,274 | 281,307 |
| Fidelity Series International Value Fund | 689,032 | 501,569 | 736,044 | 23,188 | (10,384) | 334,948 | 779,121 |
| Fidelity Series Investment Grade Bond Fund | 5,083,603 | 4,261,216 | 2,090,826 | 396,487 | (21,097) | (52,050) | 7,180,846 |
| Fidelity Series Investment Grade Securitized Fund | 3,543,334 | 2,962,570 | 1,356,850 | 141,827 | (9,534) | (108,431) | 5,031,089 |
| Fidelity Series Large Cap Growth Index Fund | 247,587 | 575,315 | 459,465 | 15,916 | 12,006 | 188,060 | 563,503 |
| Fidelity Series Large Cap Stock Fund | 255,848 | 638,607 | 506,307 | 33,008 | 28,604 | 198,407 | 615,159 |
| Fidelity Series Large Cap Value Index Fund | 489,718 | 1,168,071 | 895,176 | 26,066 | 36,294 | 376,039 | 1,174,946 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 1,076,791 | 1,499,291 | 451,269 | 160,251 | (32,290) | (393,189) | 1,699,334 |
| Fidelity Series Overseas Fund | 677,636 | 522,515 | 705,726 | 9,479 | 8,977 | 277,928 | 781,330 |
| Fidelity Series Real Estate Income Fund | 162,999 | 155,455 | 140,934 | 15,454 | (3,254) | 61,879 | 236,145 |
| Fidelity Series Short-Term Credit Fund | 2,093,791 | 366,640 | 210,395 | 50,165 | (379) | 61,827 | 2,311,484 |
| Fidelity Series Small Cap Opportunities Fund | 118,432 | 269,458 | 232,451 | 6,408 | 16,620 | 125,177 | 297,236 |
| Fidelity Series Treasury Bill Index Fund | 7,146,861 | 1,231,191 | 902,191 | 36,191 | (2,302) | (26,733) | 7,446,826 |
| Fidelity Series Value Discovery Fund | 142,099 | 456,673 | 323,211 | 9,979 | 15,393 | 143,181 | 434,135 |
| | $43,614,607 | $41,118,241 | $26,946,365 | $1,978,315 | $114,066 | $4,176,622 | $62,077,171 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $5,702,205 | $5,702,205 | $-- | $-- |
| International Equity Funds | 7,706,217 | 7,706,217 | -- | -- |
| Bond Funds | 34,223,929 | 34,223,929 | -- | -- |
| Short-Term Funds | 14,444,869 | 14,444,869 | -- | -- |
| Total Investments in Securities: | $62,077,220 | $62,077,220 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend Income Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Fidelity Central Funds (cost $49) | $49 | |
| Other affiliated issuers (cost $58,620,486) | 62,077,171 | |
| Total Investment in Securities (cost $58,620,535) | | $62,077,220 |
| Cash | | 275 |
| Receivable for investments sold | | 441,327 |
| Receivable for fund shares sold | | 17,494 |
| Total assets | | 62,536,316 |
| Liabilities | | |
| Payable for investments purchased | $423,192 | |
| Payable for fund shares redeemed | 35,629 | |
| Accrued management fee | 15,309 | |
| Distribution and service plan fees payable | 995 | |
| Total liabilities | | 475,125 |
| Net Assets | | $62,061,191 |
| Net Assets consist of: | | |
| Paid in capital | | $58,173,208 |
| Total accumulated earnings (loss) | | 3,887,983 |
| Net Assets | | $62,061,191 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($1,423,310 ÷ 130,301 shares)(a) | | $10.92 |
| Maximum offering price per share (100/94.25 of $10.92) | | $11.59 |
| Class M: | | |
| Net Asset Value and redemption price per share ($195,302 ÷ 17,878 shares)(a) | | $10.92 |
| Maximum offering price per share (100/96.50 of $10.92) | | $11.32 |
| Class C: | | |
| Net Asset Value and offering price per share ($710,799 ÷ 65,493 shares)(a) | | $10.85 |
| Fidelity Freedom Blend Income Fund: | | |
| Net Asset Value, offering price and redemption price per share ($5,976,716 ÷ 546,774 shares) | | $10.93 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($563,930 ÷ 51,564 shares) | | $10.94 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($51,219,767 ÷ 4,681,590 shares) | | $10.94 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($748,946 ÷ 68,485 shares) | | $10.94 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($1,026,460 ÷ 93,850 shares) | | $10.94 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($195,961 ÷ 17,902 shares) | | $10.95 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $768,528 |
| Expenses | | |
| Management fee | $160,022 | |
| Distribution and service plan fees | 9,330 | |
| Independent trustees' fees and expenses | 156 | |
| Total expenses before reductions | 169,508 | |
| Expense reductions | (4) | |
| Total expenses after reductions | | 169,504 |
| Net investment income (loss) | | 599,024 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 114,066 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 1,209,787 | |
| Total net realized gain (loss) | | 1,323,853 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 4,176,622 | |
| Total change in net unrealized appreciation (depreciation) | | 4,176,622 |
| Net gain (loss) | | 5,500,475 |
| Net increase (decrease) in net assets resulting from operations | | $6,099,499 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $599,024 | $654,391 |
| Net realized gain (loss) | 1,323,853 | 216,863 |
| Change in net unrealized appreciation (depreciation) | 4,176,622 | (789,089) |
| Net increase (decrease) in net assets resulting from operations | 6,099,499 | 82,165 |
| Distributions to shareholders | (1,527,679) | (838,295) |
| Share transactions - net increase (decrease) | 13,875,323 | 41,593,540 |
| Total increase (decrease) in net assets | 18,447,143 | 40,837,410 |
| Net Assets | | |
| Beginning of period | 43,614,048 | 2,776,638 |
| End of period | $62,061,191 | $43,614,048 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Blend Income Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.98 | $10.03 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .07 | .16 | .11 |
| Net realized and unrealized gain (loss) | 1.12 | .01C | .08 |
| Total from investment operations | 1.19 | .17 | .19 |
| Distributions from net investment income | (.08) | (.15) | (.11) |
| Distributions from net realized gain | (.17) | (.07) | (.05) |
| Total distributions | (.25) | (.22) | (.16) |
| Net asset value, end of period | $10.92 | $9.98 | $10.03 |
| Total ReturnD,E | 11.94% | 1.60% | 1.91% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .71% | .71% | .71%H |
| Expenses net of fee waivers, if any | .71% | .71% | .71%H |
| Expenses net of all reductions | .71% | .71% | .71%H |
| Net investment income (loss) | .67% | 1.55% | 1.95%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,423 | $699 | $107 |
| Portfolio turnover rateI | 49% | 44% | 48%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.
D Total returns for periods of less than one year are not annualized.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend Income Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.98 | $10.03 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .05 | .13 | .10 |
| Net realized and unrealized gain (loss) | 1.11 | .01C | .07 |
| Total from investment operations | 1.16 | .14 | .17 |
| Distributions from net investment income | (.05) | (.12) | (.09) |
| Distributions from net realized gain | (.17) | (.07) | (.05) |
| Total distributions | (.22) | (.19) | (.14) |
| Net asset value, end of period | $10.92 | $9.98 | $10.03 |
| Total ReturnD,E,F | 11.65% | 1.35% | 1.76% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | .96% | .96% | .96%I |
| Expenses net of fee waivers, if any | .96% | .96% | .96%I |
| Expenses net of all reductions | .96% | .96% | .96%I |
| Net investment income (loss) | .42% | 1.30% | 1.70%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $195 | $156 | $102 |
| Portfolio turnover rateJ | 49% | 44% | 48%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Total returns do not include the effect of the sales charges.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend Income Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.95 | $10.01 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | (.01) | .08 | .07 |
| Net realized and unrealized gain (loss) | 1.11 | .01C | .07 |
| Total from investment operations | 1.10 | .09 | .14 |
| Distributions from net investment income | (.03) | (.08) | (.08) |
| Distributions from net realized gain | (.17) | (.07) | (.05) |
| Total distributions | (.20) | (.15) | (.13) |
| Net asset value, end of period | $10.85 | $9.95 | $10.01 |
| Total ReturnD,E | 11.10% | .85% | 1.45% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | 1.46% | 1.46% | 1.47%H,I |
| Expenses net of fee waivers, if any | 1.46% | 1.46% | 1.47%H,I |
| Expenses net of all reductions | 1.46% | 1.46% | 1.47%H,I |
| Net investment income (loss) | (.09)% | .81% | 1.19%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $711 | $228 | $123 |
| Portfolio turnover rateJ | 49% | 44% | 48%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.
D Total returns for periods of less than one year are not annualized.
E Total returns do not include the effect of the contingent deferred sales charge.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend Income Fund
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.98 | $10.03 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .10 | .18 | .13 |
| Net realized and unrealized gain (loss) | 1.12 | .01C | .07 |
| Total from investment operations | 1.22 | .19 | .20 |
| Distributions from net investment income | (.10) | (.17) | (.12) |
| Distributions from net realized gain | (.17) | (.07) | (.05) |
| Total distributions | (.27) | (.24) | (.17) |
| Net asset value, end of period | $10.93 | $9.98 | $10.03 |
| Total ReturnD | 12.29% | 1.83% | 2.04% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .46% | .46% | .46%G |
| Expenses net of fee waivers, if any | .46% | .46% | .46%G |
| Expenses net of all reductions | .46% | .46% | .46%G |
| Net investment income (loss) | .92% | 1.80% | 2.20%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $5,977 | $2,729 | $378 |
| Portfolio turnover rateH | 49% | 44% | 48%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend Income Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.99 | $10.04 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .11 | .20 | .13 |
| Net realized and unrealized gain (loss) | 1.12 | –C | .08 |
| Total from investment operations | 1.23 | .20 | .21 |
| Distributions from net investment income | (.11) | (.18) | (.12) |
| Distributions from net realized gain | (.17) | (.07) | (.05) |
| Total distributions | (.28) | (.25) | (.17) |
| Net asset value, end of period | $10.94 | $9.99 | $10.04 |
| Total ReturnD | 12.37% | 1.90% | 2.20% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .36% | .36% | .36%G |
| Expenses net of fee waivers, if any | .36% | .36% | .36%G |
| Expenses net of all reductions | .36% | .36% | .36%G |
| Net investment income (loss) | 1.02% | 1.90% | 2.30%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $564 | $404 | $102 |
| Portfolio turnover rateH | 49% | 44% | 48%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend Income Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.99 | $10.04 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .21 | .14 |
| Net realized and unrealized gain (loss) | 1.12 | –C | .08 |
| Total from investment operations | 1.24 | .21 | .22 |
| Distributions from net investment income | (.12) | (.19) | (.13) |
| Distributions from net realized gain | (.17) | (.07) | (.05) |
| Total distributions | (.29) | (.26) | (.18) |
| Net asset value, end of period | $10.94 | $9.99 | $10.04 |
| Total ReturnD | 12.50% | 1.97% | 2.24% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .26% | .26% | .26%G |
| Expenses net of fee waivers, if any | .26% | .26% | .26%G |
| Expenses net of all reductions | .26% | .26% | .26%G |
| Net investment income (loss) | 1.12% | 2.00% | 2.39%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $51,220 | $38,898 | $1,658 |
| Portfolio turnover rateH | 49% | 44% | 48%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend Income Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.99 | $10.04 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .10 | .19 | .13 |
| Net realized and unrealized gain (loss) | 1.13 | (.01) | .08 |
| Total from investment operations | 1.23 | .18 | .21 |
| Distributions from net investment income | (.11) | (.17) | (.12) |
| Distributions from net realized gain | (.17) | (.07) | (.05) |
| Total distributions | (.28) | (.23)C | (.17) |
| Net asset value, end of period | $10.94 | $9.99 | $10.04 |
| Total ReturnD | 12.32% | 1.76% | 2.14% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .46% | .46% | .46%G |
| Expenses net of fee waivers, if any | .46% | .46% | .46%G |
| Expenses net of all reductions | .46% | .46% | .46%G |
| Net investment income (loss) | .92% | 1.80% | 2.20%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $749 | $242 | $102 |
| Portfolio turnover rateH | 49% | 44% | 48%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend Income Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.99 | $10.04 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .11 | .20 | .13 |
| Net realized and unrealized gain (loss) | 1.12 | (.01) | .08 |
| Total from investment operations | 1.23 | .19 | .21 |
| Distributions from net investment income | (.11) | (.18) | (.12) |
| Distributions from net realized gain | (.17) | (.07) | (.05) |
| Total distributions | (.28) | (.24)C | (.17) |
| Net asset value, end of period | $10.94 | $9.99 | $10.04 |
| Total ReturnD | 12.41% | 1.86% | 2.20% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .36% | .36% | .36%G |
| Expenses net of fee waivers, if any | .36% | .36% | .36%G |
| Expenses net of all reductions | .36% | .36% | .36%G |
| Net investment income (loss) | 1.02% | 1.90% | 2.30%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,026 | $104 | $102 |
| Portfolio turnover rateH | 49% | 44% | 48%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend Income Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $10.00 | $10.04 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .21 | .14 |
| Net realized and unrealized gain (loss) | 1.12 | –C | .08 |
| Total from investment operations | 1.24 | .21 | .22 |
| Distributions from net investment income | (.12) | (.18) | (.13) |
| Distributions from net realized gain | (.17) | (.07) | (.05) |
| Total distributions | (.29) | (.25) | (.18) |
| Net asset value, end of period | $10.95 | $10.00 | $10.04 |
| Total ReturnD | 12.47% | 2.04% | 2.23% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .26% | .26% | .26%G |
| Expenses net of fee waivers, if any | .26% | .26% | .26%G |
| Expenses net of all reductions | .26% | .26% | .26%G |
| Net investment income (loss) | 1.12% | 2.00% | 2.40%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $196 | $154 | $102 |
| Portfolio turnover rateH | 49% | 44% | 48%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2005 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Inflation-Protected Bond Index Fund | 11.2 |
| Fidelity Series Investment Grade Bond Fund | 11.1 |
| Fidelity Series Treasury Bill Index Fund | 10.9 |
| Fidelity Series Government Bond Index Fund | 10.0 |
| Fidelity Series Corporate Bond Fund | 8.1 |
| Fidelity Series Investment Grade Securitized Fund | 7.8 |
| Fidelity Series Emerging Markets Opportunities Fund | 6.9 |
| Fidelity Series Government Money Market Fund 0.08% | 6.9 |
| Fidelity Series Short-Term Credit Fund | 3.4 |
| Fidelity Series Commodity Strategy Fund | 2.8 |
| | 79.1 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 11.8% |
| | International Equity Funds | 14.1% |
| | Bond Funds | 52.9% |
| | Short-Term Funds | 21.2% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® Blend 2005 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 11.8% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 27,383 | $476,733 |
| Fidelity Series Commodity Strategy Fund (a) | | 133,763 | 655,440 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 19,065 | 300,850 |
| Fidelity Series Large Cap Stock Fund (a) | | 17,803 | 328,463 |
| Fidelity Series Large Cap Value Index Fund (a) | | 42,708 | 627,382 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 8,956 | 158,699 |
| Fidelity Series Value Discovery Fund (a) | | 14,561 | 231,808 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $2,236,224) | | | 2,779,375 |
|
| International Equity Funds - 14.1% | | | |
| Fidelity Series Canada Fund (a) | | 11,573 | 147,790 |
| Fidelity Series Emerging Markets Fund (a) | | 15,532 | 181,564 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 63,613 | 1,632,306 |
| Fidelity Series International Growth Fund (a) | | 20,259 | 363,454 |
| Fidelity Series International Index Fund (a) | | 12,991 | 151,737 |
| Fidelity Series International Small Cap Fund (a) | | 6,326 | 131,074 |
| Fidelity Series International Value Fund (a) | | 33,460 | 363,042 |
| Fidelity Series Overseas Fund (a) | | 28,872 | 364,074 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $2,551,126) | | | 3,335,041 |
|
| Bond Funds - 52.9% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 176,718 | 1,917,388 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 14,220 | 129,119 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 4,307 | 43,159 |
| Fidelity Series Floating Rate High Income Fund (a) | | 2,830 | 26,011 |
| Fidelity Series Government Bond Index Fund (a) | | 225,796 | 2,364,080 |
| Fidelity Series High Income Fund (a) | | 15,975 | 149,847 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 246,763 | 2,650,228 |
| Fidelity Series Investment Grade Bond Fund (a) | | 227,572 | 2,623,900 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 178,486 | 1,838,406 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 81,760 | 645,904 |
| Fidelity Series Real Estate Income Fund (a) | | 8,123 | 89,763 |
| TOTAL BOND FUNDS | | | |
| (Cost $12,347,288) | | | 12,477,805 |
|
| Short-Term Funds - 21.2% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 49 | 49 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 1,625,448 | 1,625,448 |
| Fidelity Series Short-Term Credit Fund (a) | | 78,823 | 801,629 |
| Fidelity Series Treasury Bill Index Fund (a) | | 257,815 | 2,578,151 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $4,993,512) | | | 5,005,277 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $22,128,150) | | | 23,597,498 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (5,847) |
| NET ASSETS - 100% | | | $23,591,651 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $234,125 | $493,807 | $365,808 | $151,492 | $21,524 | $93,085 | $476,733 |
| Fidelity Series Canada Fund | 107,781 | 81,946 | 97,891 | 2,896 | (2,726) | 58,680 | 147,790 |
| Fidelity Series Commodity Strategy Fund | 503,406 | 393,951 | 395,855 | 2,457 | (12,233) | 166,171 | 655,440 |
| Fidelity Series Corporate Bond Fund | 1,078,330 | 1,253,268 | 469,935 | 66,661 | (1,943) | 57,668 | 1,917,388 |
| Fidelity Series Emerging Markets Debt Fund | 92,988 | 77,089 | 53,949 | 6,227 | 123 | 12,868 | 129,119 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 52,847 | 9,219 | 617 | 51 | (520) | 43,159 |
| Fidelity Series Emerging Markets Fund | 70,351 | 131,217 | 92,287 | 2,474 | 5,764 | 66,519 | 181,564 |
| Fidelity Series Emerging Markets Opportunities Fund | 700,881 | 1,140,204 | 845,860 | 47,131 | 61,714 | 575,367 | 1,632,306 |
| Fidelity Series Floating Rate High Income Fund | 20,111 | 17,617 | 15,108 | 1,197 | 86 | 3,305 | 26,011 |
| Fidelity Series Government Bond Index Fund | 1,666,476 | 1,496,006 | 631,160 | 59,810 | (3,917) | (163,325) | 2,364,080 |
| Fidelity Series Government Money Market Fund 0.08% | 651,371 | 2,839,605 | 1,865,528 | 2,304 | -- | -- | 1,625,448 |
| Fidelity Series High Income Fund | 101,928 | 89,102 | 57,587 | 7,913 | 888 | 15,516 | 149,847 |
| Fidelity Series Inflation-Protected Bond Index Fund | 1,634,575 | 1,468,835 | 576,520 | 33,201 | (321) | 123,659 | 2,650,228 |
| Fidelity Series International Growth Fund | 312,968 | 264,420 | 288,884 | 51,363 | 10,313 | 64,637 | 363,454 |
| Fidelity Series International Index Fund | 101,586 | 102,908 | 102,628 | 2,863 | 1,991 | 47,880 | 151,737 |
| Fidelity Series International Small Cap Fund | 87,392 | 60,946 | 67,784 | 1,125 | 5,922 | 44,598 | 131,074 |
| Fidelity Series International Value Fund | 295,735 | 216,255 | 295,013 | 10,039 | 13,225 | 132,840 | 363,042 |
| Fidelity Series Investment Grade Bond Fund | 1,636,524 | 1,645,739 | 620,896 | 143,626 | (6,854) | (30,613) | 2,623,900 |
| Fidelity Series Investment Grade Securitized Fund | 1,132,511 | 1,160,514 | 410,589 | 51,293 | (3,759) | (40,271) | 1,838,406 |
| Fidelity Series Large Cap Growth Index Fund | 169,793 | 246,982 | 232,909 | 8,858 | 13,703 | 103,281 | 300,850 |
| Fidelity Series Large Cap Stock Fund | 175,820 | 268,731 | 241,317 | 17,763 | 15,167 | 110,062 | 328,463 |
| Fidelity Series Large Cap Value Index Fund | 331,392 | 507,643 | 440,212 | 13,100 | 24,523 | 204,036 | 627,382 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 368,589 | 589,212 | 158,771 | 55,569 | (4,885) | (148,241) | 645,904 |
| Fidelity Series Overseas Fund | 295,600 | 217,700 | 279,095 | 4,104 | 8,828 | 121,041 | 364,074 |
| Fidelity Series Real Estate Income Fund | 55,473 | 55,663 | 42,400 | 5,511 | 50 | 20,977 | 89,763 |
| Fidelity Series Short-Term Credit Fund | 640,769 | 177,086 | 34,869 | 15,443 | (38) | 18,681 | 801,629 |
| Fidelity Series Small Cap Opportunities Fund | 84,852 | 114,653 | 118,822 | 3,350 | 7,847 | 70,169 | 158,699 |
| Fidelity Series Treasury Bill Index Fund | 2,186,416 | 548,037 | 147,315 | 11,244 | (330) | (8,657) | 2,578,151 |
| Fidelity Series Value Discovery Fund | 100,501 | 200,431 | 157,172 | 5,015 | 8,765 | 79,283 | 231,808 |
| | $14,838,244 | $15,912,414 | $9,115,383 | $784,646 | $163,478 | $1,798,696 | $23,597,449 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $2,779,375 | $2,779,375 | $-- | $-- |
| International Equity Funds | 3,335,041 | 3,335,041 | -- | -- |
| Bond Funds | 12,477,805 | 12,477,805 | -- | -- |
| Short-Term Funds | 5,005,277 | 5,005,277 | -- | -- |
| Total Investments in Securities: | $23,597,498 | $23,597,498 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2005 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Fidelity Central Funds (cost $49) | $49 | |
| Other affiliated issuers (cost $22,128,101) | 23,597,449 | |
| Total Investment in Securities (cost $22,128,150) | | $23,597,498 |
| Cash | | 194 |
| Receivable for investments sold | | 168,453 |
| Receivable for fund shares sold | | 7,239 |
| Total assets | | 23,773,384 |
| Liabilities | | |
| Payable for investments purchased | $172,533 | |
| Payable for fund shares redeemed | 3,160 | |
| Accrued management fee | 5,638 | |
| Distribution and service plan fees payable | 402 | |
| Total liabilities | | 181,733 |
| Net Assets | | $23,591,651 |
| Net Assets consist of: | | |
| Paid in capital | | $21,902,659 |
| Total accumulated earnings (loss) | | 1,688,992 |
| Net Assets | | $23,591,651 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($351,394 ÷ 31,877 shares)(a) | | $11.02 |
| Maximum offering price per share (100/94.25 of $11.02) | | $11.69 |
| Class M: | | |
| Net Asset Value and redemption price per share ($147,749 ÷ 13,404 shares)(a) | | $11.02 |
| Maximum offering price per share (100/96.50 of $11.02) | | $11.42 |
| Class C: | | |
| Net Asset Value and offering price per share ($320,112 ÷ 29,268 shares)(a) | | $10.94 |
| Fidelity Freedom Blend 2005 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($2,029,714 ÷ 184,026 shares) | | $11.03 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($458,740 ÷ 41,560 shares) | | $11.04 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($19,122,180 ÷ 1,730,896 shares) | | $11.05 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($852,735 ÷ 77,340 shares) | | $11.03 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($183,839 ÷ 16,628 shares) | | $11.06 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($125,188 ÷ 11,318 shares) | | $11.06 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $284,162 |
| Expenses | | |
| Management fee | $60,146 | |
| Distribution and service plan fees | 4,319 | |
| Independent trustees' fees and expenses | 58 | |
| Total expenses | | 64,523 |
| Net investment income (loss) | | 219,639 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 163,478 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 500,484 | |
| Total net realized gain (loss) | | 663,962 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 1,798,696 | |
| Total change in net unrealized appreciation (depreciation) | | 1,798,696 |
| Net gain (loss) | | 2,462,658 |
| Net increase (decrease) in net assets resulting from operations | | $2,682,297 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $219,639 | $262,828 |
| Net realized gain (loss) | 663,962 | 68,151 |
| Change in net unrealized appreciation (depreciation) | 1,798,696 | (375,039) |
| Net increase (decrease) in net assets resulting from operations | 2,682,297 | (44,060) |
| Distributions to shareholders | (648,692) | (354,729) |
| Share transactions - net increase (decrease) | 6,720,025 | 13,151,118 |
| Total increase (decrease) in net assets | 8,753,630 | 12,752,329 |
| Net Assets | | |
| Beginning of period | 14,838,021 | 2,085,692 |
| End of period | $23,591,651 | $14,838,021 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Blend 2005 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.85 | $9.99 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .07 | .16 | .11 |
| Net realized and unrealized gain (loss) | 1.39 | (.08) | .04 |
| Total from investment operations | 1.46 | .08 | .15 |
| Distributions from net investment income | (.07) | (.13) | (.10) |
| Distributions from net realized gain | (.21) | (.09) | (.07) |
| Total distributions | (.29)C | (.22) | (.16)C |
| Net asset value, end of period | $11.02 | $9.85 | $9.99 |
| Total ReturnD,E | 14.84% | .68% | 1.62% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .71% | .71% | .71%H |
| Expenses net of fee waivers, if any | .71% | .71% | .71%H |
| Expenses net of all reductions | .71% | .71% | .71%H |
| Net investment income (loss) | .67% | 1.56% | 1.88%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $351 | $263 | $187 |
| Portfolio turnover rateI | 45% | 64% | 11%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2005 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.85 | $9.99 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .05 | .13 | .09 |
| Net realized and unrealized gain (loss) | 1.38 | (.07) | .05 |
| Total from investment operations | 1.43 | .06 | .14 |
| Distributions from net investment income | (.05) | (.11) | (.08) |
| Distributions from net realized gain | (.21) | (.09) | (.07) |
| Total distributions | (.26) | (.20) | (.15) |
| Net asset value, end of period | $11.02 | $9.85 | $9.99 |
| Total ReturnC,D | 14.58% | .45% | 1.43% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .96% | .96% | .96%G |
| Expenses net of fee waivers, if any | .96% | .96% | .96%G |
| Expenses net of all reductions | .96% | .96% | .96%G |
| Net investment income (loss) | .43% | 1.31% | 1.63%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $148 | $108 | $101 |
| Portfolio turnover rateH | 45% | 64% | 11%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2005 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.81 | $9.98 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | (.01) | .08 | .06 |
| Net realized and unrealized gain (loss) | 1.38 | (.08) | .05 |
| Total from investment operations | 1.37 | – | .11 |
| Distributions from net investment income | (.03) | (.08) | (.06) |
| Distributions from net realized gain | (.21) | (.09) | (.07) |
| Total distributions | (.24) | (.17) | (.13) |
| Net asset value, end of period | $10.94 | $9.81 | $9.98 |
| Total ReturnC,D | 14.06% | (.07)% | 1.15% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | 1.46% | 1.46% | 1.46%G |
| Expenses net of fee waivers, if any | 1.46% | 1.46% | 1.46%G |
| Expenses net of all reductions | 1.46% | 1.46% | 1.46%G |
| Net investment income (loss) | (.08)% | .81% | 1.13%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $320 | $256 | $101 |
| Portfolio turnover rateH | 45% | 64% | 11%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns do not include the effect of the contingent deferred sales charge.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2005 Fund
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.87 | $10.01 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .10 | .19 | .12 |
| Net realized and unrealized gain (loss) | 1.39 | (.08) | .05 |
| Total from investment operations | 1.49 | .11 | .17 |
| Distributions from net investment income | (.11) | (.15) | (.10) |
| Distributions from net realized gain | (.21) | (.10) | (.07) |
| Total distributions | (.33)C | (.25) | (.16)C |
| Net asset value, end of period | $11.03 | $9.87 | $10.01 |
| Total ReturnD | 15.13% | .94% | 1.80% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .46% | .46% | .46%G |
| Expenses net of fee waivers, if any | .46% | .46% | .46%G |
| Expenses net of all reductions | .46% | .46% | .46%G |
| Net investment income (loss) | .92% | 1.81% | 2.13%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $2,030 | $1,126 | $111 |
| Portfolio turnover rateH | 45% | 64% | 11%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2005 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.88 | $10.01 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .11 | .20 | .13 |
| Net realized and unrealized gain (loss) | 1.39 | (.08) | .04 |
| Total from investment operations | 1.50 | .12 | .17 |
| Distributions from net investment income | (.13) | (.16) | (.10) |
| Distributions from net realized gain | (.21) | (.09) | (.07) |
| Total distributions | (.34) | (.25) | (.16)C |
| Net asset value, end of period | $11.04 | $9.88 | $10.01 |
| Total ReturnD | 15.26% | 1.06% | 1.83% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .36% | .36% | .36%G |
| Expenses net of fee waivers, if any | .36% | .36% | .36%G |
| Expenses net of all reductions | .36% | .36% | .36%G |
| Net investment income (loss) | 1.02% | 1.91% | 2.23%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $459 | $178 | $102 |
| Portfolio turnover rateH | 45% | 64% | 11%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2005 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.88 | $10.01 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .21 | .13 |
| Net realized and unrealized gain (loss) | 1.39 | (.08) | .05 |
| Total from investment operations | 1.51 | .13 | .18 |
| Distributions from net investment income | (.13) | (.17) | (.10) |
| Distributions from net realized gain | (.21) | (.10) | (.07) |
| Total distributions | (.34) | (.26)C | (.17) |
| Net asset value, end of period | $11.05 | $9.88 | $10.01�� |
| Total ReturnD | 15.38% | 1.19% | 1.86% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .26% | .26% | .26%G |
| Expenses net of fee waivers, if any | .26% | .26% | .26%G |
| Expenses net of all reductions | .26% | .26% | .26%G |
| Net investment income (loss) | 1.12% | 2.01% | 2.32%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $19,122 | $12,005 | $1,177 |
| Portfolio turnover rateH | 45% | 64% | 11%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2005 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.86 | $10.01 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .10 | .19 | .12 |
| Net realized and unrealized gain (loss) | 1.40 | (.09) | .05 |
| Total from investment operations | 1.50 | .10 | .17 |
| Distributions from net investment income | (.11) | (.16) | (.10) |
| Distributions from net realized gain | (.21) | (.09) | (.07) |
| Total distributions | (.33)C | (.25) | (.16)C |
| Net asset value, end of period | $11.03 | $9.86 | $10.01 |
| Total ReturnD | 15.24% | .86% | 1.80% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .46% | .46% | .46%G |
| Expenses net of fee waivers, if any | .46% | .46% | .46%G |
| Expenses net of all reductions | .46% | .46% | .46%G |
| Net investment income (loss) | .92% | 1.81% | 2.13%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $853 | $691 | $102 |
| Portfolio turnover rateH | 45% | 64% | 11%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2005 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.88 | $10.01 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .11 | .20 | .13 |
| Net realized and unrealized gain (loss) | 1.40 | (.09) | .04 |
| Total from investment operations | 1.51 | .11 | .17 |
| Distributions from net investment income | (.11) | (.15) | (.10) |
| Distributions from net realized gain | (.21) | (.09) | (.07) |
| Total distributions | (.33)C | (.24) | (.16)C |
| Net asset value, end of period | $11.06 | $9.88 | $10.01 |
| Total ReturnD | 15.34% | 1.01% | 1.83% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .36% | .36% | .36%G |
| Expenses net of fee waivers, if any | .36% | .36% | .36%G |
| Expenses net of all reductions | .36% | .36% | .36%G |
| Net investment income (loss) | 1.02% | 1.91% | 2.23%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $184 | $103 | $102 |
| Portfolio turnover rateH | 45% | 64% | 11%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2005 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.88 | $10.01 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .21 | .13 |
| Net realized and unrealized gain (loss) | 1.40 | (.09) | .05 |
| Total from investment operations | 1.52 | .12 | .18 |
| Distributions from net investment income | (.12) | (.16) | (.10) |
| Distributions from net realized gain | (.21) | (.10) | (.07) |
| Total distributions | (.34)C | (.25)C | (.17) |
| Net asset value, end of period | $11.06 | $9.88 | $10.01 |
| Total ReturnD | 15.45% | 1.11% | 1.86% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .26% | .26% | .26%G |
| Expenses net of fee waivers, if any | .26% | .26% | .26%G |
| Expenses net of all reductions | .26% | .26% | .26%G |
| Net investment income (loss) | 1.12% | 2.01% | 2.33%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $125 | $107 | $102 |
| Portfolio turnover rateH | 45% | 64% | 11%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2010 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 10.1 |
| Fidelity Series Inflation-Protected Bond Index Fund | 9.7 |
| Fidelity Series Government Bond Index Fund | 9.1 |
| Fidelity Series Treasury Bill Index Fund | 8.8 |
| Fidelity Series Emerging Markets Opportunities Fund | 7.9 |
| Fidelity Series Corporate Bond Fund | 7.4 |
| Fidelity Series Investment Grade Securitized Fund | 7.1 |
| Fidelity Series Government Money Market Fund 0.08% | 5.6 |
| Fidelity Series Large Cap Value Index Fund | 4.3 |
| Fidelity Series Blue Chip Growth Fund | 3.2 |
| | 73.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 17.2% |
| | International Equity Funds | 17.8% |
| | Bond Funds | 47.9% |
| | Short-Term Funds | 17.1% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® Blend 2010 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 17.2% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 150,544 | $2,620,975 |
| Fidelity Series Commodity Strategy Fund (a) | | 457,942 | 2,243,914 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 104,826 | 1,654,159 |
| Fidelity Series Large Cap Stock Fund (a) | | 97,899 | 1,806,229 |
| Fidelity Series Large Cap Value Index Fund (a) | | 234,860 | 3,450,090 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 49,245 | 872,624 |
| Fidelity Series Value Discovery Fund (a) | | 80,075 | 1,274,789 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $11,169,233) | | | 13,922,780 |
|
| International Equity Funds - 17.8% | | | |
| Fidelity Series Canada Fund (a) | | 55,138 | 704,113 |
| Fidelity Series Emerging Markets Fund (a) | | 60,878 | 711,666 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 249,341 | 6,398,084 |
| Fidelity Series International Growth Fund (a) | | 96,522 | 1,731,600 |
| Fidelity Series International Index Fund (a) | | 61,894 | 722,922 |
| Fidelity Series International Small Cap Fund (a) | | 30,139 | 624,488 |
| Fidelity Series International Value Fund (a) | | 159,417 | 1,729,670 |
| Fidelity Series Overseas Fund (a) | | 137,553 | 1,734,545 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $11,036,951) | | | 14,357,088 |
|
| Bond Funds - 47.9% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 548,689 | 5,953,279 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 48,686 | 442,073 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 14,746 | 147,754 |
| Fidelity Series Floating Rate High Income Fund (a) | | 9,690 | 89,055 |
| Fidelity Series Government Bond Index Fund (a) | | 701,068 | 7,340,181 |
| Fidelity Series High Income Fund (a) | | 54,695 | 513,041 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 731,302 | 7,854,184 |
| Fidelity Series Investment Grade Bond Fund (a) | | 706,586 | 8,146,939 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 554,177 | 5,708,020 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 279,922 | 2,211,381 |
| Fidelity Series Real Estate Income Fund (a) | | 27,810 | 307,305 |
| TOTAL BOND FUNDS | | | |
| (Cost $38,283,720) | | | 38,713,212 |
|
| Short-Term Funds - 17.1% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 49 | 49 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 4,478,499 | 4,478,499 |
| Fidelity Series Short-Term Credit Fund (a) | | 217,192 | 2,208,841 |
| Fidelity Series Treasury Bill Index Fund (a) | | 711,630 | 7,116,302 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $13,767,301) | | | 13,803,691 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $74,257,205) | | | 80,796,771 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (20,258) |
| NET ASSETS - 100% | | | $80,776,513 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $1,583,767 | $1,922,506 | $1,601,286 | $880,755 | $137,089 | $578,899 | $2,620,975 |
| Fidelity Series Canada Fund | 532,654 | 256,209 | 365,651 | 14,744 | (10,637) | 291,538 | 704,113 |
| Fidelity Series Commodity Strategy Fund | 1,970,686 | 885,725 | 1,181,363 | 9,062 | (64,214) | 633,080 | 2,243,914 |
| Fidelity Series Corporate Bond Fund | 3,803,180 | 3,107,340 | 1,170,209 | 219,480 | (2,421) | 215,389 | 5,953,279 |
| Fidelity Series Emerging Markets Debt Fund | 364,007 | 154,076 | 126,227 | 22,733 | (1,034) | 51,251 | 442,073 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 167,697 | 18,769 | 2,176 | 393 | (1,567) | 147,754 |
| Fidelity Series Emerging Markets Fund | 333,113 | 350,035 | 279,670 | 10,514 | 21,661 | 286,527 | 711,666 |
| Fidelity Series Emerging Markets Opportunities Fund | 3,278,590 | 3,106,878 | 2,695,438 | 198,998 | 291,086 | 2,416,968 | 6,398,084 |
| Fidelity Series Floating Rate High Income Fund | 80,173 | 35,216 | 39,081 | 4,369 | (162) | 12,909 | 89,055 |
| Fidelity Series Government Bond Index Fund | 5,890,670 | 3,427,590 | 1,444,416 | 196,207 | 4,586 | (538,249) | 7,340,181 |
| Fidelity Series Government Money Market Fund 0.08% | 2,009,286 | 6,614,602 | 4,145,389 | 6,025 | -- | -- | 4,478,499 |
| Fidelity Series High Income Fund | 405,538 | 173,787 | 128,609 | 28,811 | 368 | 61,957 | 513,041 |
| Fidelity Series Inflation-Protected Bond Index Fund | 5,522,760 | 2,944,128 | 1,024,696 | 101,832 | 5,110 | 406,882 | 7,854,184 |
| Fidelity Series International Growth Fund | 1,613,636 | 921,000 | 1,180,672 | 261,489 | 31,533 | 346,103 | 1,731,600 |
| Fidelity Series International Index Fund | 577,479 | 280,616 | 383,690 | 14,579 | 2,665 | 245,852 | 722,922 |
| Fidelity Series International Small Cap Fund | 475,189 | 159,931 | 266,272 | 5,758 | 20,196 | 235,444 | 624,488 |
| Fidelity Series International Value Fund | 1,538,771 | 667,512 | 1,204,267 | 51,130 | 20,973 | 706,681 | 1,729,670 |
| Fidelity Series Investment Grade Bond Fund | 5,764,412 | 3,852,363 | 1,378,522 | 469,239 | (5,587) | (85,727) | 8,146,939 |
| Fidelity Series Investment Grade Securitized Fund | 4,003,490 | 2,747,923 | 907,551 | 167,417 | (2,084) | (133,758) | 5,708,020 |
| Fidelity Series Large Cap Growth Index Fund | 1,170,649 | 815,301 | 1,046,041 | 51,782 | 117,636 | 596,614 | 1,654,159 |
| Fidelity Series Large Cap Stock Fund | 1,214,409 | 884,201 | 1,027,332 | 106,344 | 80,423 | 654,528 | 1,806,229 |
| Fidelity Series Large Cap Value Index Fund | 2,267,339 | 1,642,131 | 1,816,524 | 76,569 | 116,513 | 1,240,631 | 3,450,090 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 1,439,458 | 1,709,283 | 391,687 | 205,237 | 3,220 | (548,893) | 2,211,381 |
| Fidelity Series Overseas Fund | 1,511,094 | 702,655 | 1,125,020 | 20,892 | 21,530 | 624,286 | 1,734,545 |
| Fidelity Series Real Estate Income Fund | 219,579 | 108,459 | 97,196 | 19,919 | (2,426) | 78,889 | 307,305 |
| Fidelity Series Short-Term Credit Fund | 2,064,907 | 272,045 | 188,998 | 49,330 | 254 | 60,633 | 2,208,841 |
| Fidelity Series Small Cap Opportunities Fund | 596,490 | 352,914 | 537,084 | 19,570 | 40,609 | 419,695 | 872,624 |
| Fidelity Series Treasury Bill Index Fund | 7,142,092 | 828,012 | 825,082 | 35,782 | (2,344) | (26,376) | 7,116,302 |
| Fidelity Series Value Discovery Fund | 702,241 | 679,501 | 627,925 | 29,329 | 52,004 | 468,968 | 1,274,789 |
| | $58,075,659 | $39,769,636 | $27,224,667 | $3,280,072 | $876,940 | $9,299,154 | $80,796,722 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $13,922,780 | $13,922,780 | $-- | $-- |
| International Equity Funds | 14,357,088 | 14,357,088 | -- | -- |
| Bond Funds | 38,713,212 | 38,713,212 | -- | -- |
| Short-Term Funds | 13,803,691 | 13,803,691 | -- | -- |
| Total Investments in Securities: | $80,796,771 | $80,796,771 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2010 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Fidelity Central Funds (cost $49) | $49 | |
| Other affiliated issuers (cost $74,257,156) | 80,796,722 | |
| Total Investment in Securities (cost $74,257,205) | | $80,796,771 |
| Cash | | 299 |
| Receivable for investments sold | | 702,172 |
| Receivable for fund shares sold | | 26,754 |
| Total assets | | 81,525,996 |
| Liabilities | | |
| Payable for investments purchased | $722,220 | |
| Payable for fund shares redeemed | 6,716 | |
| Accrued management fee | 19,995 | |
| Distribution and service plan fees payable | 552 | |
| Total liabilities | | 749,483 |
| Net Assets | | $80,776,513 |
| Net Assets consist of: | | |
| Paid in capital | | $72,879,365 |
| Total accumulated earnings (loss) | | 7,897,148 |
| Net Assets | | $80,776,513 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($931,453 ÷ 83,250 shares)(a) | | $11.19 |
| Maximum offering price per share (100/94.25 of $11.19) | | $11.87 |
| Class M: | | |
| Net Asset Value and redemption price per share ($378,815 ÷ 33,864 shares)(a) | | $11.19 |
| Maximum offering price per share (100/96.50 of $11.19) | | $11.60 |
| Class C: | | |
| Net Asset Value and offering price per share ($239,560 ÷ 21,524 shares)(a) | | $11.13 |
| Fidelity Freedom Blend 2010 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($4,498,920 ÷ 401,410 shares) | | $11.21 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($7,725,140 ÷ 687,983 shares) | | $11.23 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($64,959,398 ÷ 5,775,943 shares) | | $11.25 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($913,866 ÷ 81,455 shares) | | $11.22 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($247,086 ÷ 21,972 shares) | | $11.25 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($882,275 ÷ 78,427 shares) | | $11.25 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $1,095,900 |
| Expenses | | |
| Management fee | $222,125 | |
| Distribution and service plan fees | 5,601 | |
| Independent trustees' fees and expenses | 213 | |
| Total expenses before reductions | 227,939 | |
| Expense reductions | (1) | |
| Total expenses after reductions | | 227,938 |
| Net investment income (loss) | | 867,962 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 876,940 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 2,184,172 | |
| Total net realized gain (loss) | | 3,061,112 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 9,299,154 | |
| Total change in net unrealized appreciation (depreciation) | | 9,299,154 |
| Net gain (loss) | | 12,360,266 |
| Net increase (decrease) in net assets resulting from operations | | $13,228,228 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $867,962 | $1,041,232 |
| Net realized gain (loss) | 3,061,112 | 574,311 |
| Change in net unrealized appreciation (depreciation) | 9,299,154 | (2,858,550) |
| Net increase (decrease) in net assets resulting from operations | 13,228,228 | (1,243,007) |
| Distributions to shareholders | (2,725,154) | (1,444,075) |
| Share transactions - net increase (decrease) | 12,198,204 | 58,119,134 |
| Total increase (decrease) in net assets | 22,701,278 | 55,432,052 |
| Net Assets | | |
| Beginning of period | 58,075,235 | 2,643,183 |
| End of period | $80,776,513 | $58,075,235 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Blend 2010 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.65 | $9.93 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .08 | .16 | .10 |
| Net realized and unrealized gain (loss) | 1.83 | (.22) | .01 |
| Total from investment operations | 1.91 | (.06) | .11 |
| Distributions from net investment income | (.11) | (.12) | (.11) |
| Distributions from net realized gain | (.26) | (.09) | (.08) |
| Total distributions | (.37) | (.22)C | (.18)C |
| Net asset value, end of period | $11.19 | $9.65 | $9.93 |
| Total ReturnD,E,F | 19.96% | (.82)% | 1.24% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | .72% | .72% | .72%I |
| Expenses net of fee waivers, if any | .72% | .72% | .72%I |
| Expenses net of all reductions | .72% | .72% | .72%I |
| Net investment income (loss) | .74% | 1.60% | 1.81%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $931 | $190 | $166 |
| Portfolio turnover rateJ | 37% | 42% | 98%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Total returns do not include the effect of the sales charges.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2010 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.63 | $9.92 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .05 | .14 | .09 |
| Net realized and unrealized gain (loss) | 1.84 | (.23) | –C |
| Total from investment operations | 1.89 | (.09) | .09 |
| Distributions from net investment income | (.07) | (.11) | (.10) |
| Distributions from net realized gain | (.26) | (.09) | (.08) |
| Total distributions | (.33) | (.20) | (.17)D |
| Net asset value, end of period | $11.19 | $9.63 | $9.92 |
| Total ReturnE,F | 19.76% | (1.07)% | 1.03% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | .97% | .97% | .97%I |
| Expenses net of fee waivers, if any | .97% | .97% | .97%I |
| Expenses net of all reductions | .97% | .97% | .97%I |
| Net investment income (loss) | .49% | 1.35% | 1.56%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $379 | $259 | $126 |
| Portfolio turnover rateJ | 37% | 42% | 98%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Total returns do not include the effect of the sales charges.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2010 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.61 | $9.92 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | –C | .09 | .06 |
| Net realized and unrealized gain (loss) | 1.82 | (.23) | .01 |
| Total from investment operations | 1.82 | (.14) | .07 |
| Distributions from net investment income | (.05) | (.07) | (.08) |
| Distributions from net realized gain | (.25) | (.09) | (.08) |
| Total distributions | (.30) | (.17)D | (.15)D |
| Net asset value, end of period | $11.13 | $9.61 | $9.92 |
| Total ReturnE,F | 19.05% | (1.57)% | .81% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | 1.47% | 1.47% | 1.47%I |
| Expenses net of fee waivers, if any | 1.47% | 1.47% | 1.47%I |
| Expenses net of all reductions | 1.47% | 1.47% | 1.47%I |
| Net investment income (loss) | (.02)% | .85% | 1.06%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $240 | $117 | $101 |
| Portfolio turnover rateJ | 37% | 42% | 98%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Total returns do not include the effect of the contingent deferred sales charge.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2010 Fund
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.65 | $9.94 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .11 | .19 | .12 |
| Net realized and unrealized gain (loss) | 1.83 | (.23) | .01 |
| Total from investment operations | 1.94 | (.04) | .13 |
| Distributions from net investment income | (.12) | (.16) | (.11) |
| Distributions from net realized gain | (.26) | (.10) | (.08) |
| Total distributions | (.38) | (.25)C | (.19) |
| Net asset value, end of period | $11.21 | $9.65 | $9.94 |
| Total ReturnD | 20.28% | (.56)% | 1.37% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .47% | .47% | .47%G |
| Expenses net of fee waivers, if any | .47% | .47% | .47%G |
| Expenses net of all reductions | .47% | .47% | .47%G |
| Net investment income (loss) | .99% | 1.85% | 2.06%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $4,499 | $2,197 | $148 |
| Portfolio turnover rateH | 37% | 42% | 98%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2010 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.66 | $9.94 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .20 | .12 |
| Net realized and unrealized gain (loss) | 1.84 | (.22) | .01 |
| Total from investment operations | 1.96 | (.02) | .13 |
| Distributions from net investment income | (.13) | (.16) | (.11) |
| Distributions from net realized gain | (.26) | (.09) | (.08) |
| Total distributions | (.39) | (.26)C | (.19) |
| Net asset value, end of period | $11.23 | $9.66 | $9.94 |
| Total ReturnD | 20.40% | (.43)% | 1.38% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .37% | .37% | .37%G |
| Expenses net of fee waivers, if any | .37% | .37% | .37%G |
| Expenses net of all reductions | .37% | .37% | .37%G |
| Net investment income (loss) | 1.09% | 1.95% | 2.16%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $7,725 | $6,317 | $101 |
| Portfolio turnover rateH | 37% | 42% | 98%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2010 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.67 | $9.95 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .21 | .13 |
| Net realized and unrealized gain (loss) | 1.85 | (.23) | .01 |
| Total from investment operations | 1.98 | (.02) | .14 |
| Distributions from net investment income | (.14) | (.16) | (.11) |
| Distributions from net realized gain | (.26) | (.10) | (.08) |
| Total distributions | (.40) | (.26) | (.19) |
| Net asset value, end of period | $11.25 | $9.67 | $9.95 |
| Total ReturnC | 20.60% | (.44)% | 1.52% |
| Ratios to Average Net AssetsD,E | | | |
| Expenses before reductions | .27% | .27% | .28%F,G |
| Expenses net of fee waivers, if any | .27% | .27% | .28%F,G |
| Expenses net of all reductions | .27% | .27% | .28%F,G |
| Net investment income (loss) | 1.19% | 2.05% | 2.26%F |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $64,959 | $48,155 | $1,697 |
| Portfolio turnover rateH | 37% | 42% | 98%F |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2010 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.66 | $9.94 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .11 | .19 | .12 |
| Net realized and unrealized gain (loss) | 1.83 | (.22) | –C |
| Total from investment operations | 1.94 | (.03) | .12 |
| Distributions from net investment income | (.12) | (.15) | (.11) |
| Distributions from net realized gain | (.26) | (.09) | (.08) |
| Total distributions | (.38) | (.25)D | (.18)D |
| Net asset value, end of period | $11.22 | $9.66 | $9.94 |
| Total ReturnE | 20.25% | (.53)% | 1.35% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .47% | .47% | .47%H |
| Expenses net of fee waivers, if any | .47% | .47% | .47%H |
| Expenses net of all reductions | .47% | .47% | .47%H |
| Net investment income (loss) | .99% | 1.85% | 2.06%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $914 | $453 | $101 |
| Portfolio turnover rateI | 37% | 42% | 98%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2010 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.68 | $9.94 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .20 | .12 |
| Net realized and unrealized gain (loss) | 1.84 | (.22) | .01 |
| Total from investment operations | 1.96 | (.02) | .13 |
| Distributions from net investment income | (.13) | (.15) | (.11) |
| Distributions from net realized gain | (.26) | (.09) | (.08) |
| Total distributions | (.39) | (.24) | (.19) |
| Net asset value, end of period | $11.25 | $9.68 | $9.94 |
| Total ReturnC | 20.42% | (.40)% | 1.38% |
| Ratios to Average Net AssetsD,E | | | |
| Expenses before reductions | .37% | .37% | .37%F |
| Expenses net of fee waivers, if any | .37% | .37% | .37%F |
| Expenses net of all reductions | .37% | .37% | .37%F |
| Net investment income (loss) | 1.09% | 1.95% | 2.16%F |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $247 | $101 | $101 |
| Portfolio turnover rateG | 37% | 42% | 98%F |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2010 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.68 | $9.95 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .21 | .13 |
| Net realized and unrealized gain (loss) | 1.84 | (.23) | .01 |
| Total from investment operations | 1.97 | (.02) | .14 |
| Distributions from net investment income | (.14) | (.15) | (.11) |
| Distributions from net realized gain | (.26) | (.09) | (.08) |
| Total distributions | (.40) | (.25)C | (.19) |
| Net asset value, end of period | $11.25 | $9.68 | $9.95 |
| Total ReturnD | 20.55% | (.43)% | 1.52% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .27% | .27% | .27%G |
| Expenses net of fee waivers, if any | .27% | .27% | .27%G |
| Expenses net of all reductions | .27% | .27% | .27%G |
| Net investment income (loss) | 1.19% | 2.05% | 2.26%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $882 | $287 | $101 |
| Portfolio turnover rateH | 37% | 42% | 98%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2015 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Investment Grade Bond Fund | 9.0 |
| Fidelity Series Emerging Markets Opportunities Fund | 8.9 |
| Fidelity Series Inflation-Protected Bond Index Fund | 8.4 |
| Fidelity Series Government Bond Index Fund | 8.1 |
| Fidelity Series Treasury Bill Index Fund | 6.6 |
| Fidelity Series Corporate Bond Fund | 6.6 |
| Fidelity Series Investment Grade Securitized Fund | 6.3 |
| Fidelity Series Large Cap Value Index Fund | 5.9 |
| Fidelity Series Blue Chip Growth Fund | 4.5 |
| Fidelity Series Government Money Market Fund 0.08% | 4.2 |
| | 68.5 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 22.7% |
| | International Equity Funds | 21.5% |
| | Bond Funds | 42.9% |
| | Short-Term Funds | 12.9% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® Blend 2015 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 22.7% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 605,322 | $10,538,662 |
| Fidelity Series Commodity Strategy Fund (a) | | 1,333,688 | 6,535,073 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 421,523 | 6,651,630 |
| Fidelity Series Large Cap Stock Fund (a) | | 393,717 | 7,264,082 |
| Fidelity Series Large Cap Value Index Fund (a) | | 944,549 | 13,875,418 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 198,036 | 3,509,200 |
| Fidelity Series Value Discovery Fund (a) | | 322,039 | 5,126,868 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $42,802,853) | | | 53,500,933 |
|
| International Equity Funds - 21.5% | | | |
| Fidelity Series Canada Fund (a) | | 205,951 | 2,629,993 |
| Fidelity Series Emerging Markets Fund (a) | | 200,146 | 2,339,706 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 819,733 | 21,034,347 |
| Fidelity Series International Growth Fund (a) | | 360,528 | 6,467,869 |
| Fidelity Series International Index Fund (a) | | 231,186 | 2,700,250 |
| Fidelity Series International Small Cap Fund (a) | | 112,581 | 2,332,675 |
| Fidelity Series International Value Fund (a) | | 595,450 | 6,460,634 |
| Fidelity Series Overseas Fund (a) | | 513,787 | 6,478,848 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $38,883,568) | | | 50,444,322 |
|
| Bond Funds - 42.9% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 1,421,068 | 15,418,584 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 141,790 | 1,287,450 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 42,945 | 430,310 |
| Fidelity Series Floating Rate High Income Fund (a) | | 28,222 | 259,363 |
| Fidelity Series Government Bond Index Fund (a) | | 1,815,765 | 19,011,061 |
| Fidelity Series High Income Fund (a) | | 159,290 | 1,494,141 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 1,847,430 | 19,841,396 |
| Fidelity Series Investment Grade Bond Fund (a) | | 1,830,035 | 21,100,306 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 1,435,309 | 14,783,685 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 815,229 | 6,440,306 |
| Fidelity Series Real Estate Income Fund (a) | | 80,993 | 894,973 |
| TOTAL BOND FUNDS | | | |
| (Cost $99,265,043) | | | 100,961,575 |
|
| Short-Term Funds - 12.9% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 49 | 49 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 9,871,751 | 9,871,751 |
| Fidelity Series Short-Term Credit Fund (a) | | 478,745 | 4,868,840 |
| Fidelity Series Treasury Bill Index Fund (a) | | 1,568,613 | 15,686,127 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $30,333,822) | | | 30,426,767 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $211,285,286) | | | 235,333,597 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (58,716) |
| NET ASSETS - 100% | | | $235,274,881 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $7,069,051 | $6,624,984 | $6,273,271 | $3,517,123 | $687,643 | $2,430,255 | $10,538,662 |
| Fidelity Series Canada Fund | 2,104,725 | 798,021 | 1,337,355 | 54,275 | (24,663) | 1,089,265 | 2,629,993 |
| Fidelity Series Commodity Strategy Fund | 6,188,649 | 2,263,126 | 3,589,671 | 26,726 | (244,529) | 1,917,498 | 6,535,073 |
| Fidelity Series Corporate Bond Fund | 10,589,640 | 8,004,552 | 3,822,218 | 574,657 | (9,603) | 656,213 | 15,418,584 |
| Fidelity Series Emerging Markets Debt Fund | 1,143,208 | 370,109 | 382,594 | 67,029 | (3,326) | 160,053 | 1,287,450 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 492,740 | 59,914 | 6,244 | 1,262 | (3,778) | 430,310 |
| Fidelity Series Emerging Markets Fund | 1,241,776 | 956,708 | 899,526 | 34,362 | 57,636 | 983,112 | 2,339,706 |
| Fidelity Series Emerging Markets Opportunities Fund | 11,928,317 | 8,601,763 | 8,661,732 | 646,046 | 919,188 | 8,246,811 | 21,034,347 |
| Fidelity Series Floating Rate High Income Fund | 255,132 | 82,653 | 116,946 | 12,859 | (754) | 39,278 | 259,363 |
| Fidelity Series Government Bond Index Fund | 16,391,161 | 8,839,780 | 4,841,449 | 512,850 | (11,679) | (1,366,752) | 19,011,061 |
| Fidelity Series Government Money Market Fund 0.08% | 5,029,221 | 17,087,522 | 12,244,992 | 11,636 | -- | -- | 9,871,751 |
| Fidelity Series High Income Fund | 1,292,857 | 410,051 | 399,113 | 84,823 | 731 | 189,615 | 1,494,141 |
| Fidelity Series Inflation-Protected Bond Index Fund | 15,092,061 | 7,182,220 | 3,521,474 | 254,012 | 11,021 | 1,077,568 | 19,841,396 |
| Fidelity Series International Growth Fund | 6,291,017 | 3,094,063 | 4,407,477 | 962,440 | 236,745 | 1,253,521 | 6,467,869 |
| Fidelity Series International Index Fund | 2,286,110 | 876,672 | 1,413,078 | 53,667 | 11,840 | 938,706 | 2,700,250 |
| Fidelity Series International Small Cap Fund | 1,852,946 | 453,428 | 941,930 | 21,166 | 70,556 | 897,675 | 2,332,675 |
| Fidelity Series International Value Fund | 6,000,464 | 2,043,827 | 4,358,627 | 188,230 | (4,810) | 2,779,780 | 6,460,634 |
| Fidelity Series Investment Grade Bond Fund | 15,974,695 | 9,980,118 | 4,691,038 | 1,224,659 | (14,620) | (148,849) | 21,100,306 |
| Fidelity Series Investment Grade Securitized Fund | 11,145,200 | 7,162,326 | 3,178,780 | 436,659 | (6,121) | (338,940) | 14,783,685 |
| Fidelity Series Large Cap Growth Index Fund | 5,256,125 | 2,670,629 | 4,247,341 | 218,145 | 584,339 | 2,387,878 | 6,651,630 |
| Fidelity Series Large Cap Stock Fund | 5,455,426 | 2,828,195 | 4,052,918 | 422,002 | 253,726 | 2,779,653 | 7,264,082 |
| Fidelity Series Large Cap Value Index Fund | 10,154,836 | 5,256,036 | 7,112,136 | 302,485 | 298,895 | 5,277,787 | 13,875,418 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 4,545,328 | 4,872,434 | 1,391,358 | 600,252 | 18,723 | (1,604,821) | 6,440,306 |
| Fidelity Series Overseas Fund | 5,912,166 | 2,318,562 | 4,232,988 | 76,895 | 100,310 | 2,380,798 | 6,478,848 |
| Fidelity Series Real Estate Income Fund | 703,230 | 249,582 | 289,306 | 57,895 | (4,794) | 236,261 | 894,973 |
| Fidelity Series Short-Term Credit Fund | 4,805,041 | 604,824 | 683,382 | 114,409 | 4,806 | 137,551 | 4,868,840 |
| Fidelity Series Small Cap Opportunities Fund | 2,696,895 | 1,077,258 | 2,147,424 | 77,716 | 116,143 | 1,766,328 | 3,509,200 |
| Fidelity Series Treasury Bill Index Fund | 17,797,466 | 1,839,908 | 3,879,964 | 88,624 | (8,593) | (62,690) | 15,686,127 |
| Fidelity Series Value Discovery Fund | 3,167,627 | 2,296,883 | 2,475,734 | 115,912 | 154,483 | 1,983,609 | 5,126,868 |
| | $182,370,370 | $109,338,974 | $95,653,736 | $10,763,798 | $3,194,555 | $36,083,385 | $235,333,548 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $53,500,933 | $53,500,933 | $-- | $-- |
| International Equity Funds | 50,444,322 | 50,444,322 | -- | -- |
| Bond Funds | 100,961,575 | 100,961,575 | -- | -- |
| Short-Term Funds | 30,426,767 | 30,426,767 | -- | -- |
| Total Investments in Securities: | $235,333,597 | $235,333,597 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2015 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Fidelity Central Funds (cost $49) | $49 | |
| Other affiliated issuers (cost $211,285,237) | 235,333,548 | |
| Total Investment in Securities (cost $211,285,286) | | $235,333,597 |
| Cash | | 623 |
| Receivable for investments sold | | 2,291,794 |
| Receivable for fund shares sold | | 192,651 |
| Total assets | | 237,818,665 |
| Liabilities | | |
| Payable for investments purchased | $2,328,275 | |
| Payable for fund shares redeemed | 156,201 | |
| Accrued management fee | 58,252 | |
| Distribution and service plan fees payable | 1,056 | |
| Total liabilities | | 2,543,784 |
| Net Assets | | $235,274,881 |
| Net Assets consist of: | | |
| Paid in capital | | $206,196,747 |
| Total accumulated earnings (loss) | | 29,078,134 |
| Net Assets | | $235,274,881 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($625,912 ÷ 55,085 shares)(a) | | $11.36 |
| Maximum offering price per share (100/94.25 of $11.36) | | $12.05 |
| Class M: | | |
| Net Asset Value and redemption price per share ($695,773 ÷ 61,294 shares)(a) | | $11.35 |
| Maximum offering price per share (100/96.50 of $11.35) | | $11.76 |
| Class C: | | |
| Net Asset Value and offering price per share ($763,056 ÷ 67,667 shares)(a) | | $11.28 |
| Fidelity Freedom Blend 2015 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($11,994,928 ÷ 1,054,765 shares) | | $11.37 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($5,237,265 ÷ 459,511 shares) | | $11.40 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($208,673,607 ÷ 18,280,842 shares) | | $11.41 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($5,419,502 ÷ 476,401 shares) | | $11.38 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($124,482 ÷ 10,904 shares) | | $11.42 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($1,740,356 ÷ 152,620 shares) | | $11.40 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $3,347,247 |
| Expenses | | |
| Management fee | $663,861 | |
| Distribution and service plan fees | 9,471 | |
| Independent trustees' fees and expenses | 641 | |
| Total expenses | | 673,973 |
| Net investment income (loss) | | 2,673,274 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 3,194,555 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 7,416,551 | |
| Total net realized gain (loss) | | 10,611,106 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 36,083,385 | |
| Total change in net unrealized appreciation (depreciation) | | 36,083,385 |
| Net gain (loss) | | 46,694,491 |
| Net increase (decrease) in net assets resulting from operations | | $49,367,765 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $2,673,274 | $3,499,365 |
| Net realized gain (loss) | 10,611,106 | 3,042,260 |
| Change in net unrealized appreciation (depreciation) | 36,083,385 | (12,460,486) |
| Net increase (decrease) in net assets resulting from operations | 49,367,765 | (5,918,861) |
| Distributions to shareholders | (9,449,814) | (5,354,235) |
| Share transactions - net increase (decrease) | 12,988,414 | 184,166,038 |
| Total increase (decrease) in net assets | 52,906,365 | 172,892,942 |
| Net Assets | | |
| Beginning of period | 182,368,516 | 9,475,574 |
| End of period | $235,274,881 | $182,368,516 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Blend 2015 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.43 | $9.91 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .08 | .16 | .07 |
| Net realized and unrealized gain (loss) | 2.28 | (.37) | –C |
| Total from investment operations | 2.36 | (.21) | .07 |
| Distributions from net investment income | (.11) | (.15) | (.09) |
| Distributions from net realized gain | (.33) | (.12) | (.07) |
| Total distributions | (.43)D | (.27) | (.16) |
| Net asset value, end of period | $11.36 | $9.43 | $9.91 |
| Total ReturnE,F | 25.27% | (2.38)% | .85% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | .73% | .73% | .74%I |
| Expenses net of fee waivers, if any | .73% | .73% | .74%I |
| Expenses net of all reductions | .73% | .73% | .74%I |
| Net investment income (loss) | .77% | 1.58% | 1.24%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $626 | $346 | $195 |
| Portfolio turnover rateJ | 43% | 40% | 52%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Total returns do not include the effect of the sales charges.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2015 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.44 | $9.90 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .06 | .14 | .06 |
| Net realized and unrealized gain (loss) | 2.27 | (.36) | –C |
| Total from investment operations | 2.33 | (.22) | .06 |
| Distributions from net investment income | (.09) | (.12) | (.09) |
| Distributions from net realized gain | (.33) | (.12) | (.07) |
| Total distributions | (.42) | (.24) | (.16) |
| Net asset value, end of period | $11.35 | $9.44 | $9.90 |
| Total ReturnD,E | 24.86% | (2.50)% | .67% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .98% | .98% | .99%H |
| Expenses net of fee waivers, if any | .98% | .98% | .99%H |
| Expenses net of all reductions | .98% | .98% | .99%H |
| Net investment income (loss) | .52% | 1.33% | .99%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $696 | $107 | $101 |
| Portfolio turnover rateI | 43% | 40% | 52%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total returns for periods of less than one year are not annualized.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2015 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.39 | $9.87 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | –C | .08 | .03 |
| Net realized and unrealized gain (loss) | 2.26 | (.36) | –C |
| Total from investment operations | 2.26 | (.28) | .03 |
| Distributions from net investment income | (.05) | (.08) | (.09) |
| Distributions from net realized gain | (.33) | (.12) | (.07) |
| Total distributions | (.37)D | (.20) | (.16) |
| Net asset value, end of period | $11.28 | $9.39 | $9.87 |
| Total ReturnE,F | 24.28% | (3.04)% | .43% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | 1.48% | 1.48% | 1.50%I,J |
| Expenses net of fee waivers, if any | 1.48% | 1.48% | 1.50%I,J |
| Expenses net of all reductions | 1.48% | 1.48% | 1.50%I,J |
| Net investment income (loss) | .02% | .83% | .48%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $763 | $467 | $144 |
| Portfolio turnover rateK | 43% | 40% | 52%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Total returns do not include the effect of the contingent deferred sales charge.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
K Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2015 Fund
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.44 | $9.91 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .11 | .19 | .08 |
| Net realized and unrealized gain (loss) | 2.27 | (.37) | .01 |
| Total from investment operations | 2.38 | (.18) | .09 |
| Distributions from net investment income | (.13) | (.17) | (.11) |
| Distributions from net realized gain | (.33) | (.12) | (.07) |
| Total distributions | (.45)C | (.29) | (.18) |
| Net asset value, end of period | $11.37 | $9.44 | $9.91 |
| Total ReturnD | 25.50% | (2.09)% | 1.02% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .48% | .49%G | .49%H |
| Expenses net of fee waivers, if any | .48% | .49%G | .49%H |
| Expenses net of all reductions | .48% | .49%G | .49%H |
| Net investment income (loss) | 1.02% | 1.83% | 1.49%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $11,995 | $8,440 | $468 |
| Portfolio turnover rateI | 43% | 40% | 52%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2015 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.45 | $9.92 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .20 | .09 |
| Net realized and unrealized gain (loss) | 2.29 | (.37) | –C |
| Total from investment operations | 2.41 | (.17) | .09 |
| Distributions from net investment income | (.13) | (.18) | (.11) |
| Distributions from net realized gain | (.33) | (.12) | (.07) |
| Total distributions | (.46) | (.30) | (.17)D |
| Net asset value, end of period | $11.40 | $9.45 | $9.92 |
| Total ReturnE | 25.74% | (2.03)% | 1.07% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .38% | .38% | .39%H |
| Expenses net of fee waivers, if any | .38% | .38% | .39%H |
| Expenses net of all reductions | .38% | .38% | .39%H |
| Net investment income (loss) | 1.12% | 1.93% | 1.59%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $5,237 | $6,147 | $101 |
| Portfolio turnover rateI | 43% | 40% | 52%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2015 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.47 | $9.92 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .21 | .09 |
| Net realized and unrealized gain (loss) | 2.28 | (.37) | .01 |
| Total from investment operations | 2.41 | (.16) | .10 |
| Distributions from net investment income | (.14) | (.17) | (.11) |
| Distributions from net realized gain | (.33) | (.12) | (.07) |
| Total distributions | (.47) | (.29) | (.18) |
| Net asset value, end of period | $11.41 | $9.47 | $9.92 |
| Total ReturnC | 25.71% | (1.86)% | 1.12% |
| Ratios to Average Net AssetsD,E | | | |
| Expenses before reductions | .28% | .28% | .30%F,G |
| Expenses net of fee waivers, if any | .28% | .28% | .30%F,G |
| Expenses net of all reductions | .28% | .28% | .30%F,G |
| Net investment income (loss) | 1.22% | 2.03% | 1.68%F |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $208,674 | $162,504 | $8,164 |
| Portfolio turnover rateH | 43% | 40% | 52%F |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2015 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.44 | $9.92 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .11 | .19 | .08 |
| Net realized and unrealized gain (loss) | 2.28 | (.37) | .01 |
| Total from investment operations | 2.39 | (.18) | .09 |
| Distributions from net investment income | (.12) | (.18) | (.10) |
| Distributions from net realized gain | (.33) | (.12) | (.07) |
| Total distributions | (.45) | (.30) | (.17) |
| Net asset value, end of period | $11.38 | $9.44 | $9.92 |
| Total ReturnC | 25.55% | (2.09)% | 1.04% |
| Ratios to Average Net AssetsD,E | | | |
| Expenses before reductions | .48% | .48% | .49%F |
| Expenses net of fee waivers, if any | .48% | .48% | .49%F |
| Expenses net of all reductions | .48% | .48% | .49%F |
| Net investment income (loss) | 1.02% | 1.83% | 1.49%F |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $5,420 | $3,592 | $101 |
| Portfolio turnover rateG | 43% | 40% | 52%F |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2015 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.47 | $9.92 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .20 | .09 |
| Net realized and unrealized gain (loss) | 2.29 | (.37) | –C |
| Total from investment operations | 2.41 | (.17) | .09 |
| Distributions from net investment income | (.13) | (.16) | (.11) |
| Distributions from net realized gain | (.33) | (.12) | (.07) |
| Total distributions | (.46) | (.28) | (.17)D |
| Net asset value, end of period | $11.42 | $9.47 | $9.92 |
| Total ReturnE | 25.70% | (1.99)% | 1.07% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .38% | .38% | .39%H |
| Expenses net of fee waivers, if any | .38% | .38% | .39%H |
| Expenses net of all reductions | .38% | .38% | .39%H |
| Net investment income (loss) | 1.12% | 1.93% | 1.59%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $124 | $99 | $101 |
| Portfolio turnover rateI | 43% | 40% | 52%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2015 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.46 | $9.92 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .21 | .10 |
| Net realized and unrealized gain (loss) | 2.29 | (.37) | –C |
| Total from investment operations | 2.42 | (.16) | .10 |
| Distributions from net investment income | (.15) | (.18) | (.11) |
| Distributions from net realized gain | (.33) | (.12) | (.07) |
| Total distributions | (.48) | (.30) | (.18) |
| Net asset value, end of period | $11.40 | $9.46 | $9.92 |
| Total ReturnD | 25.84% | (1.95)% | 1.12% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .28% | .28% | .29%G |
| Expenses net of fee waivers, if any | .28% | .28% | .29%G |
| Expenses net of all reductions | .28% | .28% | .29%G |
| Net investment income (loss) | 1.22% | 2.03% | 1.69%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,740 | $667 | $101 |
| Portfolio turnover rateH | 43% | 40% | 52%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2020 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 9.9 |
| Fidelity Series Investment Grade Bond Fund | 7.8 |
| Fidelity Series Large Cap Value Index Fund | 7.5 |
| Fidelity Series Inflation-Protected Bond Index Fund | 7.2 |
| Fidelity Series Government Bond Index Fund | 7.1 |
| Fidelity Series Corporate Bond Fund | 5.7 |
| Fidelity Series Blue Chip Growth Fund | 5.7 |
| Fidelity Series Investment Grade Securitized Fund | 5.5 |
| Fidelity Series Treasury Bill Index Fund | 4.6 |
| Fidelity Series Large Cap Stock Fund | 3.9 |
| | 64.9 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 28.1% |
| | International Equity Funds | 25.0% |
| | Bond Funds | 37.9% |
| | Short-Term Funds | 9.0% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® Blend 2020 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 28.1% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 2,491,642 | $43,379,480 |
| Fidelity Series Commodity Strategy Fund (a) | | 4,325,605 | 21,195,466 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 1,735,180 | 27,381,134 |
| Fidelity Series Large Cap Stock Fund (a) | | 1,620,882 | 29,905,279 |
| Fidelity Series Large Cap Value Index Fund (a) | | 3,888,647 | 57,124,220 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 815,248 | 14,446,187 |
| Fidelity Series Value Discovery Fund (a) | | 1,325,810 | 21,106,888 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $172,316,819) | | | 214,538,654 |
|
| International Equity Funds - 25.0% | | | |
| Fidelity Series Canada Fund (a) | | 811,640 | 10,364,641 |
| Fidelity Series Emerging Markets Fund (a) | | 721,278 | 8,431,739 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 2,954,079 | 75,801,658 |
| Fidelity Series International Growth Fund (a) | | 1,420,826 | 25,489,613 |
| Fidelity Series International Index Fund (a) | | 911,098 | 10,641,626 |
| Fidelity Series International Small Cap Fund (a) | | 443,691 | 9,193,285 |
| Fidelity Series International Value Fund (a) | | 2,346,656 | 25,461,214 |
| Fidelity Series Overseas Fund (a) | | 2,024,798 | 25,532,703 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $148,837,384) | | | 190,916,479 |
|
| Bond Funds - 37.9% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 4,032,158 | 43,748,916 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 459,855 | 4,175,479 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 139,290 | 1,395,685 |
| Fidelity Series Floating Rate High Income Fund (a) | | 91,533 | 841,193 |
| Fidelity Series Government Bond Index Fund (a) | | 5,152,242 | 53,943,973 |
| Fidelity Series High Income Fund (a) | | 516,609 | 4,845,795 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 5,104,422 | 54,821,488 |
| Fidelity Series Investment Grade Bond Fund (a) | | 5,192,652 | 59,871,280 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 4,072,679 | 41,948,596 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 2,644,048 | 20,887,980 |
| Fidelity Series Real Estate Income Fund (a) | | 262,687 | 2,902,692 |
| TOTAL BOND FUNDS | | | |
| (Cost $286,177,537) | | | 289,383,077 |
|
| Short-Term Funds - 9.0% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 22,226,804 | 22,226,804 |
| Fidelity Series Short-Term Credit Fund (a) | | 1,077,919 | 10,962,432 |
| Fidelity Series Treasury Bill Index Fund (a) | | 3,531,819 | 35,318,191 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $68,304,527) | | | 68,507,427 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $675,636,267) | | | 763,345,637 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (192,495) |
| NET ASSETS - 100% | | | $763,153,142 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $26,012,694 | $26,180,285 | $20,398,405 | $13,537,585 | $2,231,994 | $9,352,912 | $43,379,480 |
| Fidelity Series Canada Fund | 7,248,132 | 3,025,261 | 3,798,608 | 205,440 | (49,628) | 3,939,484 | 10,364,641 |
| Fidelity Series Commodity Strategy Fund | 17,938,733 | 7,716,458 | 9,604,538 | 81,452 | (438,781) | 5,583,594 | 21,195,466 |
| Fidelity Series Corporate Bond Fund | 27,094,612 | 23,973,777 | 8,896,313 | 1,542,942 | (30,754) | 1,607,594 | 43,748,916 |
| Fidelity Series Emerging Markets Debt Fund | 3,314,311 | 1,216,160 | 812,238 | 202,349 | (4,409) | 461,655 | 4,175,479 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 1,519,447 | 112,883 | 19,591 | 1,680 | (12,559) | 1,395,685 |
| Fidelity Series Emerging Markets Fund | 4,086,412 | 3,173,583 | 2,322,427 | 119,176 | 169,985 | 3,324,186 | 8,431,739 |
| Fidelity Series Emerging Markets Opportunities Fund | 38,817,674 | 29,010,668 | 22,771,145 | 2,234,405 | 2,253,066 | 28,491,395 | 75,801,658 |
| Fidelity Series Floating Rate High Income Fund | 748,391 | 270,591 | 293,730 | 39,266 | (1,424) | 117,365 | 841,193 |
| Fidelity Series Government Bond Index Fund | 41,922,340 | 26,531,754 | 10,739,505 | 1,373,056 | (38,140) | (3,732,476) | 53,943,973 |
| Fidelity Series Government Money Market Fund 0.08% | 11,006,228 | 39,817,478 | 28,596,902 | 25,095 | -- | -- | 22,226,804 |
| Fidelity Series High Income Fund | 3,797,208 | 1,351,149 | 872,797 | 259,453 | 1,587 | 568,648 | 4,845,795 |
| Fidelity Series Inflation-Protected Bond Index Fund | 37,365,671 | 21,708,684 | 7,031,505 | 677,467 | 28,711 | 2,749,927 | 54,821,488 |
| Fidelity Series International Growth Fund | 21,407,755 | 11,704,500 | 12,806,733 | 3,636,815 | 585,330 | 4,598,761 | 25,489,613 |
| Fidelity Series International Index Fund | 7,850,319 | 3,195,565 | 3,845,380 | 203,121 | 1,733 | 3,439,389 | 10,641,626 |
| Fidelity Series International Small Cap Fund | 6,308,839 | 1,778,365 | 2,377,573 | 78,756 | 135,937 | 3,347,717 | 9,193,285 |
| Fidelity Series International Value Fund | 20,489,878 | 7,801,518 | 12,945,028 | 711,491 | 263,355 | 9,851,491 | 25,461,214 |
| Fidelity Series Investment Grade Bond Fund | 40,661,440 | 30,553,645 | 10,789,317 | 3,276,290 | (21,466) | (533,022) | 59,871,280 |
| Fidelity Series Investment Grade Securitized Fund | 28,518,951 | 21,438,680 | 7,055,249 | 1,169,408 | (12,456) | (941,330) | 41,948,596 |
| Fidelity Series Large Cap Growth Index Fund | 19,388,748 | 10,090,688 | 13,304,377 | 839,060 | 1,585,091 | 9,620,984 | 27,381,134 |
| Fidelity Series Large Cap Stock Fund | 20,128,885 | 10,683,909 | 12,575,966 | 1,631,133 | 819,309 | 10,849,142 | 29,905,279 |
| Fidelity Series Large Cap Value Index Fund | 37,421,552 | 20,032,783 | 21,777,910 | 1,191,696 | 961,182 | 20,486,613 | 57,124,220 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 13,229,317 | 16,059,526 | 3,448,018 | 1,849,529 | 62,378 | (5,015,223) | 20,887,980 |
| Fidelity Series Overseas Fund | 20,238,998 | 8,659,215 | 12,302,982 | 290,530 | 88,238 | 8,849,234 | 25,532,703 |
| Fidelity Series Real Estate Income Fund | 2,064,509 | 805,807 | 672,993 | 177,226 | (10,393) | 715,762 | 2,902,692 |
| Fidelity Series Short-Term Credit Fund | 10,089,337 | 1,310,705 | 734,312 | 241,204 | 562 | 296,140 | 10,962,432 |
| Fidelity Series Small Cap Opportunities Fund | 9,978,241 | 3,972,202 | 6,752,059 | 302,947 | 487,108 | 6,760,695 | 14,446,187 |
| Fidelity Series Treasury Bill Index Fund | 39,804,187 | 4,257,664 | 8,583,397 | 199,300 | (23,777) | (136,486) | 35,318,191 |
| Fidelity Series Value Discovery Fund | 11,708,583 | 8,657,354 | 7,499,425 | 456,691 | 530,374 | 7,710,002 | 21,106,888 |
| | $528,641,945 | $346,497,421 | $253,721,715 | $36,572,474 | $9,576,392 | $132,351,594 | $763,345,637 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $214,538,654 | $214,538,654 | $-- | $-- |
| International Equity Funds | 190,916,479 | 190,916,479 | -- | -- |
| Bond Funds | 289,383,077 | 289,383,077 | -- | -- |
| Short-Term Funds | 68,507,427 | 68,507,427 | -- | -- |
| Total Investments in Securities: | $763,345,637 | $763,345,637 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2020 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $675,636,267) | $763,345,637 | |
| Total Investment in Securities (cost $675,636,267) | | $763,345,637 |
| Cash | | 1,460 |
| Receivable for investments sold | | 7,648,877 |
| Receivable for fund shares sold | | 796,962 |
| Total assets | | 771,792,936 |
| Liabilities | | |
| Payable for investments purchased | $7,841,047 | |
| Payable for fund shares redeemed | 604,833 | |
| Accrued management fee | 191,809 | |
| Distribution and service plan fees payable | 2,105 | |
| Total liabilities | | 8,639,794 |
| Net Assets | | $763,153,142 |
| Net Assets consist of: | | |
| Paid in capital | | $659,658,131 |
| Total accumulated earnings (loss) | | 103,495,011 |
| Net Assets | | $763,153,142 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($3,302,683 ÷ 284,400 shares)(a) | | $11.61 |
| Maximum offering price per share (100/94.25 of $11.61) | | $12.32 |
| Class M: | | |
| Net Asset Value and redemption price per share ($1,433,354 ÷ 123,613 shares)(a) | | $11.60 |
| Maximum offering price per share (100/96.50 of $11.60) | | $12.02 |
| Class C: | | |
| Net Asset Value and offering price per share ($1,027,340 ÷ 88,992 shares)(a) | | $11.54 |
| Fidelity Freedom Blend 2020 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($33,411,288 ÷ 2,871,817 shares) | | $11.63 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($26,938,952 ÷ 2,310,724 shares) | | $11.66 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($684,574,855 ÷ 58,589,680 shares) | | $11.68 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($8,555,018 ÷ 734,803 shares) | | $11.64 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($157,581 ÷ 13,486 shares) | | $11.68 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($3,752,071 ÷ 321,211 shares) | | $11.68 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $10,708,175 |
| Expenses | | |
| Management fee | $2,093,381 | |
| Distribution and service plan fees | 17,358 | |
| Independent trustees' fees and expenses | 1,948 | |
| Total expenses before reductions | 2,112,687 | |
| Expense reductions | (122) | |
| Total expenses after reductions | | 2,112,565 |
| Net investment income (loss) | | 8,595,610 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 9,576,392 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 25,864,299 | |
| Total net realized gain (loss) | | 35,440,691 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 132,351,594 | |
| Total change in net unrealized appreciation (depreciation) | | 132,351,594 |
| Net gain (loss) | | 167,792,285 |
| Net increase (decrease) in net assets resulting from operations | | $176,387,895 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $8,595,610 | $10,320,788 |
| Net realized gain (loss) | 35,440,691 | 9,700,383 |
| Change in net unrealized appreciation (depreciation) | 132,351,594 | (46,012,630) |
| Net increase (decrease) in net assets resulting from operations | 176,387,895 | (25,991,459) |
| Distributions to shareholders | (31,508,612) | (16,892,690) |
| Share transactions - net increase (decrease) | 89,637,657 | 547,478,331 |
| Total increase (decrease) in net assets | 234,516,940 | 504,594,182 |
| Net Assets | | |
| Beginning of period | 528,636,202 | 24,042,020 |
| End of period | $763,153,142 | $528,636,202 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Blend 2020 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.30 | $9.92 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .09 | .16 | .05 |
| Net realized and unrealized gain (loss) | 2.70 | (.49) | (.01) |
| Total from investment operations | 2.79 | (.33) | .04 |
| Distributions from net investment income | (.11) | (.15) | (.07) |
| Distributions from net realized gain | (.37) | (.14) | (.05) |
| Total distributions | (.48) | (.29) | (.12) |
| Net asset value, end of period | $11.61 | $9.30 | $9.92 |
| Total ReturnC,D,E | 30.27% | (3.65)% | .55% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .74% | .75% | .77%H,I |
| Expenses net of fee waivers, if any | .74% | .75% | .77%H,I |
| Expenses net of all reductions | .74% | .75% | .77%H,I |
| Net investment income (loss) | .82% | 1.57% | .81%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $3,303 | $1,422 | $894 |
| Portfolio turnover rateJ | 37% | 40% | 78%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2020 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.29 | $9.92 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .06 | .13 | .03 |
| Net realized and unrealized gain (loss) | 2.71 | (.48) | (.01) |
| Total from investment operations | 2.77 | (.35) | .02 |
| Distributions from net investment income | (.10) | (.14) | (.05) |
| Distributions from net realized gain | (.37) | (.14) | (.05) |
| Total distributions | (.46)C | (.28) | (.10) |
| Net asset value, end of period | $11.60 | $9.29 | $9.92 |
| Total ReturnD,E,F | 30.14% | (3.91)% | .33% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | .99% | 1.00% | 1.00%I |
| Expenses net of fee waivers, if any | .99% | 1.00% | 1.00%I |
| Expenses net of all reductions | .99% | 1.00% | 1.00%I |
| Net investment income (loss) | .56% | 1.32% | .58%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,433 | $267 | $107 |
| Portfolio turnover rateJ | 37% | 40% | 78%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Total returns do not include the effect of the sales charges.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2020 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.26 | $9.90 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .01 | .08 | –C |
| Net realized and unrealized gain (loss) | 2.69 | (.49) | –C |
| Total from investment operations | 2.70 | (.41) | –C |
| Distributions from net investment income | (.05) | (.09) | (.05) |
| Distributions from net realized gain | (.36) | (.14) | (.05) |
| Total distributions | (.42)D | (.23) | (.10) |
| Net asset value, end of period | $11.54 | $9.26 | $9.90 |
| Total ReturnE,F,G | 29.38% | (4.42)% | .08% |
| Ratios to Average Net AssetsH,I | | | |
| Expenses before reductions | 1.49% | 1.50% | 1.52%J,K |
| Expenses net of fee waivers, if any | 1.49% | 1.50% | 1.52%J,K |
| Expenses net of all reductions | 1.48% | 1.50% | 1.52%J,K |
| Net investment income (loss) | .08% | .82% | .06%J |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,027 | $413 | $385 |
| Portfolio turnover rateL | 37% | 40% | 78%J |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
G Total returns do not include the effect of the contingent deferred sales charge.
H Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
I Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
J Annualized
K On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
L Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2020 Fund
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.31 | $9.92 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .18 | .06 |
| Net realized and unrealized gain (loss) | 2.70 | (.48) | (.01) |
| Total from investment operations | 2.82 | (.30) | .05 |
| Distributions from net investment income | (.13) | (.17) | (.08) |
| Distributions from net realized gain | (.37) | (.14) | (.05) |
| Total distributions | (.50) | (.31) | (.13) |
| Net asset value, end of period | $11.63 | $9.31 | $9.92 |
| Total ReturnC,D | 30.61% | (3.38)% | .63% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .49% | .51%G | .50%H |
| Expenses net of fee waivers, if any | .49% | .51%G | .50%H |
| Expenses net of all reductions | .49% | .51%G | .50%H |
| Net investment income (loss) | 1.07% | 1.81% | 1.08%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $33,411 | $19,124 | $1,168 |
| Portfolio turnover rateI | 37% | 40% | 78%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2020 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.32 | $9.94 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .20 | .07 |
| Net realized and unrealized gain (loss) | 2.71 | (.49) | (.01) |
| Total from investment operations | 2.84 | (.29) | .06 |
| Distributions from net investment income | (.14) | (.19) | (.07) |
| Distributions from net realized gain | (.37) | (.14) | (.05) |
| Total distributions | (.50)C | (.33) | (.12) |
| Net asset value, end of period | $11.66 | $9.32 | $9.94 |
| Total ReturnD,E | 30.84% | (3.35)% | .73% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .39% | .40% | .40%H |
| Expenses net of fee waivers, if any | .39% | .40% | .40%H |
| Expenses net of all reductions | .39% | .40% | .40%H |
| Net investment income (loss) | 1.17% | 1.92% | 1.18%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $26,939 | $23,420 | $101 |
| Portfolio turnover rateI | 37% | 40% | 78%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2020 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.34 | $9.94 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .14 | .21 | .07 |
| Net realized and unrealized gain (loss) | 2.71 | (.49) | –C |
| Total from investment operations | 2.85 | (.28) | .07 |
| Distributions from net investment income | (.15) | (.18) | (.08) |
| Distributions from net realized gain | (.37) | (.14) | (.05) |
| Total distributions | (.51)D | (.32) | (.13) |
| Net asset value, end of period | $11.68 | $9.34 | $9.94 |
| Total ReturnE,F | 30.88% | (3.21)% | .77% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | .29% | .30% | .31%I,J |
| Expenses net of fee waivers, if any | .29% | .30% | .31%I,J |
| Expenses net of all reductions | .29% | .30% | .31%I,J |
| Net investment income (loss) | 1.27% | 2.02% | 1.27%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $684,575 | $476,911 | $21,065 |
| Portfolio turnover rateK | 37% | 40% | 78%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
K Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2020 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.31 | $9.94 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .19 | .06 |
| Net realized and unrealized gain (loss) | 2.71 | (.50) | –C |
| Total from investment operations | 2.83 | (.31) | .06 |
| Distributions from net investment income | (.13) | (.18) | (.07) |
| Distributions from net realized gain | (.37) | (.14) | (.05) |
| Total distributions | (.50) | (.32) | (.12) |
| Net asset value, end of period | $11.64 | $9.31 | $9.94 |
| Total ReturnD,E | 30.71% | (3.50)% | .69% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .49% | .51%H | .50%I |
| Expenses net of fee waivers, if any | .49% | .51%H | .50%I |
| Expenses net of all reductions | .49% | .51%H | .50%I |
| Net investment income (loss) | 1.07% | 1.81% | 1.08%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $8,555 | $5,169 | $121 |
| Portfolio turnover rateJ | 37% | 40% | 78%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2020 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.34 | $9.94 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .20 | .07 |
| Net realized and unrealized gain (loss) | 2.71 | (.50) | (.01) |
| Total from investment operations | 2.84 | (.30) | .06 |
| Distributions from net investment income | (.14) | (.17) | (.07) |
| Distributions from net realized gain | (.37) | (.14) | (.05) |
| Total distributions | (.50)C | (.30)C | (.12) |
| Net asset value, end of period | $11.68 | $9.34 | $9.94 |
| Total ReturnD,E | 30.77% | (3.35)% | .73% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .39% | .40% | .40%H |
| Expenses net of fee waivers, if any | .39% | .40% | .40%H |
| Expenses net of all reductions | .39% | .40% | .40%H |
| Net investment income (loss) | 1.17% | 1.92% | 1.18%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $158 | $121 | $101 |
| Portfolio turnover rateI | 37% | 40% | 78%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2020 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.34 | $9.94 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .14 | .20 | .07 |
| Net realized and unrealized gain (loss) | 2.71 | (.48) | –C |
| Total from investment operations | 2.85 | (.28) | .07 |
| Distributions from net investment income | (.15) | (.18) | (.08) |
| Distributions from net realized gain | (.37) | (.14) | (.05) |
| Total distributions | (.51)D | (.32) | (.13) |
| Net asset value, end of period | $11.68 | $9.34 | $9.94 |
| Total ReturnE,F | 30.88% | (3.19)% | .77% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | .29% | .31%I | .30%J |
| Expenses net of fee waivers, if any | .29% | .31%I | .30%J |
| Expenses net of all reductions | .29% | .31%I | .30%J |
| Net investment income (loss) | 1.27% | 2.01% | 1.28%J |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $3,752 | $1,790 | $101 |
| Portfolio turnover rateK | 37% | 40% | 78%J |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Annualized
K Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2025 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 10.6 |
| Fidelity Series Large Cap Value Index Fund | 8.6 |
| Fidelity Series Investment Grade Bond Fund | 7.1 |
| Fidelity Series Blue Chip Growth Fund | 6.6 |
| Fidelity Series Government Bond Index Fund | 6.4 |
| Fidelity Series Inflation-Protected Bond Index Fund | 6.3 |
| Fidelity Series Corporate Bond Fund | 5.2 |
| Fidelity Series Investment Grade Securitized Fund | 5.0 |
| Fidelity Series Large Cap Stock Fund | 4.5 |
| Fidelity Series Large Cap Growth Index Fund | 4.1 |
| | 64.4 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 32.0% |
| | International Equity Funds | 27.6% |
| | Bond Funds | 34.5% |
| | Short-Term Funds | 5.9% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® Blend 2025 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 32.0% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 4,411,893 | $76,811,051 |
| Fidelity Series Commodity Strategy Fund (a) | | 6,639,296 | 32,532,549 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 3,072,526 | 48,484,457 |
| Fidelity Series Large Cap Stock Fund (a) | | 2,870,250 | 52,956,119 |
| Fidelity Series Large Cap Value Index Fund (a) | | 6,886,042 | 101,155,964 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 1,443,625 | 25,581,041 |
| Fidelity Series Value Discovery Fund (a) | | 2,347,741 | 37,376,039 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $300,923,852) | | | 374,897,220 |
|
| International Equity Funds - 27.6% | | | |
| Fidelity Series Canada Fund (a) | | 1,405,824 | 17,952,376 |
| Fidelity Series Emerging Markets Fund (a) | | 1,186,601 | 13,871,365 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 4,859,834 | 124,703,347 |
| Fidelity Series International Growth Fund (a) | | 2,460,981 | 44,150,005 |
| Fidelity Series International Index Fund (a) | | 1,578,098 | 18,432,181 |
| Fidelity Series International Small Cap Fund (a) | | 768,519 | 15,923,704 |
| Fidelity Series International Value Fund (a) | | 4,064,585 | 44,100,749 |
| Fidelity Series Overseas Fund (a) | | 3,507,087 | 44,224,368 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $253,997,015) | | | 323,358,095 |
|
| Bond Funds - 34.5% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 5,582,838 | 60,573,797 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 705,806 | 6,408,716 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 213,798 | 2,142,253 |
| Fidelity Series Floating Rate High Income Fund (a) | | 140,489 | 1,291,097 |
| Fidelity Series Government Bond Index Fund (a) | | 7,133,894 | 74,691,874 |
| Fidelity Series High Income Fund (a) | | 792,902 | 7,437,420 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 6,930,264 | 74,431,031 |
| Fidelity Series Investment Grade Bond Fund (a) | | 7,189,747 | 82,897,779 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 5,639,090 | 58,082,631 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 4,058,281 | 32,060,417 |
| Fidelity Series Real Estate Income Fund (a) | | 403,192 | 4,455,269 |
| TOTAL BOND FUNDS | | | |
| (Cost $403,743,520) | | | 404,472,284 |
|
| Short-Term Funds - 5.9% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 1,308 | 1,308 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 22,389,485 | 22,389,485 |
| Fidelity Series Short-Term Credit Fund (a) | | 1,085,810 | 11,042,683 |
| Fidelity Series Treasury Bill Index Fund (a) | | 3,557,668 | 35,576,683 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $68,876,300) | | | 69,010,159 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $1,027,540,687) | | | 1,171,737,758 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (311,724) |
| NET ASSETS - 100% | | | $1,171,426,034 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $1 |
| Total | $1 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $39,276,904 | $47,558,980 | $27,819,027 | $22,458,603 | $2,651,037 | $15,143,157 | $76,811,051 |
| Fidelity Series Canada Fund | 10,389,447 | 6,089,852 | 4,713,830 | 337,772 | (138,361) | 6,325,268 | 17,952,376 |
| Fidelity Series Commodity Strategy Fund | 23,200,992 | 13,446,767 | 11,449,538 | 116,704 | (336,811) | 7,671,139 | 32,532,549 |
| Fidelity Series Corporate Bond Fund | 31,642,886 | 36,250,244 | 8,930,282 | 1,985,572 | (17,002) | 1,627,951 | 60,573,797 |
| Fidelity Series Emerging Markets Debt Fund | 4,287,511 | 2,168,270 | 643,228 | 284,475 | (5,589) | 601,752 | 6,408,716 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 2,242,257 | 81,280 | 29,008 | (181) | (18,543) | 2,142,253 |
| Fidelity Series Emerging Markets Fund | 5,717,669 | 5,574,391 | 2,657,638 | 186,124 | 166,652 | 5,070,291 | 13,871,365 |
| Fidelity Series Emerging Markets Opportunities Fund | 54,494,556 | 49,576,033 | 25,382,031 | 3,489,682 | 1,432,236 | 44,582,553 | 124,703,347 |
| Fidelity Series Floating Rate High Income Fund | 980,429 | 481,644 | 331,325 | 56,001 | (2,341) | 162,690 | 1,291,097 |
| Fidelity Series Government Bond Index Fund | 48,924,364 | 41,702,657 | 10,928,401 | 1,766,658 | (66,399) | (4,940,347) | 74,691,874 |
| Fidelity Series Government Money Market Fund 0.08% | 11,100,027 | 42,616,787 | 31,327,329 | 26,029 | -- | -- | 22,389,485 |
| Fidelity Series High Income Fund | 4,974,465 | 2,473,692 | 790,873 | 370,761 | (266) | 780,402 | 7,437,420 |
| Fidelity Series Inflation-Protected Bond Index Fund | 43,423,368 | 33,615,826 | 5,995,216 | 877,437 | 23,883 | 3,363,170 | 74,431,031 |
| Fidelity Series International Growth Fund | 30,898,510 | 22,128,694 | 16,615,025 | 5,974,829 | 334,285 | 7,403,541 | 44,150,005 |
| Fidelity Series International Index Fund | 11,486,700 | 6,174,168 | 4,646,264 | 333,902 | (28,300) | 5,445,877 | 18,432,181 |
| Fidelity Series International Small Cap Fund | 9,110,460 | 3,826,004 | 2,466,562 | 128,342 | 132,039 | 5,321,763 | 15,923,704 |
| Fidelity Series International Value Fund | 29,741,178 | 15,372,272 | 17,062,673 | 1,169,038 | 372,622 | 15,677,350 | 44,100,749 |
| Fidelity Series Investment Grade Bond Fund | 47,202,122 | 47,521,531 | 10,762,953 | 4,219,782 | (40,260) | (1,022,661) | 82,897,779 |
| Fidelity Series Investment Grade Securitized Fund | 33,309,800 | 32,953,892 | 6,877,512 | 1,507,796 | (19,472) | (1,284,077) | 58,082,631 |
| Fidelity Series Large Cap Growth Index Fund | 29,317,674 | 18,962,611 | 17,616,699 | 1,360,588 | 1,210,891 | 16,609,980 | 48,484,457 |
| Fidelity Series Large Cap Stock Fund | 30,402,665 | 20,202,974 | 16,787,158 | 2,671,849 | 872,158 | 18,265,480 | 52,956,119 |
| Fidelity Series Large Cap Value Index Fund | 56,512,480 | 38,184,213 | 28,705,815 | 2,005,051 | 1,187,676 | 33,977,410 | 101,155,964 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 17,274,484 | 25,742,333 | 3,688,837 | 2,657,507 | 81,495 | (7,349,058) | 32,060,417 |
| Fidelity Series Overseas Fund | 29,163,804 | 17,138,506 | 15,989,617 | 477,278 | (267,259) | 14,178,934 | 44,224,368 |
| Fidelity Series Real Estate Income Fund | 2,704,880 | 1,454,990 | 697,744 | 254,365 | (11,786) | 1,004,929 | 4,455,269 |
| Fidelity Series Short-Term Credit Fund | 8,171,855 | 2,713,333 | 76,533 | 198,311 | (267) | 234,295 | 11,042,683 |
| Fidelity Series Small Cap Opportunities Fund | 15,075,941 | 7,606,914 | 8,937,787 | 506,092 | 711,538 | 11,124,435 | 25,581,041 |
| Fidelity Series Treasury Bill Index Fund | 37,333,959 | 3,872,257 | 5,478,441 | 188,115 | (17,246) | (133,846) | 35,576,683 |
| Fidelity Series Value Discovery Fund | 17,686,922 | 15,711,549 | 9,541,622 | 768,351 | 550,483 | 12,968,707 | 37,376,039 |
| | $683,806,052 | $563,363,641 | $297,001,240 | $56,406,022 | $8,775,455 | $212,792,542 | $1,171,736,450 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $374,897,220 | $374,897,220 | $-- | $-- |
| International Equity Funds | 323,358,095 | 323,358,095 | -- | -- |
| Bond Funds | 404,472,284 | 404,472,284 | -- | -- |
| Short-Term Funds | 69,010,159 | 69,010,159 | -- | -- |
| Total Investments in Securities: | $1,171,737,758 | $1,171,737,758 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2025 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Fidelity Central Funds (cost $1,308) | $1,308 | |
| Other affiliated issuers (cost $1,027,539,379) | 1,171,736,450 | |
| Total Investment in Securities (cost $1,027,540,687) | | $1,171,737,758 |
| Cash | | 236 |
| Receivable for investments sold | | 11,749,532 |
| Receivable for fund shares sold | | 1,364,078 |
| Total assets | | 1,184,851,604 |
| Liabilities | | |
| Payable for investments purchased | $12,536,384 | |
| Payable for fund shares redeemed | 575,802 | |
| Accrued management fee | 310,816 | |
| Distribution and service plan fees payable | 2,568 | |
| Total liabilities | | 13,425,570 |
| Net Assets | | $1,171,426,034 |
| Net Assets consist of: | | |
| Paid in capital | | $1,006,754,494 |
| Total accumulated earnings (loss) | | 164,671,540 |
| Net Assets | | $1,171,426,034 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($3,750,655 ÷ 320,321 shares)(a) | | $11.71 |
| Maximum offering price per share (100/94.25 of $11.71) | | $12.42 |
| Class M: | | |
| Net Asset Value and redemption price per share ($1,838,451 ÷ 156,161 shares)(a) | | $11.77 |
| Maximum offering price per share (100/96.50 of $11.77) | | $12.20 |
| Class C: | | |
| Net Asset Value and offering price per share ($1,272,839 ÷ 109,366 shares)(a) | | $11.64 |
| Fidelity Freedom Blend 2025 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($43,207,344 ÷ 3,684,796 shares) | | $11.73 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($31,964,237 ÷ 2,720,432 shares) | | $11.75 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($1,055,962,872 ÷ 89,683,499 shares) | | $11.77 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($24,503,017 ÷ 2,088,986 shares) | | $11.73 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($129,570 ÷ 11,004 shares) | | $11.77 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($8,797,049 ÷ 747,916 shares) | | $11.76 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $15,818,620 |
| Income from Fidelity Central Funds | | 1 |
| Total income | | 15,818,621 |
| Expenses | | |
| Management fee | $3,197,203 | |
| Distribution and service plan fees | 24,465 | |
| Independent trustees' fees and expenses | 2,736 | |
| Total expenses before reductions | 3,224,404 | |
| Expense reductions | (13) | |
| Total expenses after reductions | | 3,224,391 |
| Net investment income (loss) | | 12,594,230 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 8,775,455 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 40,587,402 | |
| Total net realized gain (loss) | | 49,362,857 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 212,792,542 | |
| Total change in net unrealized appreciation (depreciation) | | 212,792,542 |
| Net gain (loss) | | 262,155,399 |
| Net increase (decrease) in net assets resulting from operations | | $274,749,629 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $12,594,230 | $12,790,239 |
| Net realized gain (loss) | 49,362,857 | 12,980,716 |
| Change in net unrealized appreciation (depreciation) | 212,792,542 | (71,048,710) |
| Net increase (decrease) in net assets resulting from operations | 274,749,629 | (45,277,755) |
| Distributions to shareholders | (45,065,213) | (22,266,810) |
| Share transactions - net increase (decrease) | 257,943,636 | 707,275,688 |
| Total increase (decrease) in net assets | 487,628,052 | 639,731,123 |
| Net Assets | | |
| Beginning of period | 683,797,982 | 44,066,859 |
| End of period | $1,171,426,034 | $683,797,982 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Blend 2025 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.09 | $9.82 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .09 | .16 | .03 |
| Net realized and unrealized gain (loss) | 3.01 | (.58) | (.02) |
| Total from investment operations | 3.10 | (.42) | .01 |
| Distributions from net investment income | (.11) | (.15) | (.11) |
| Distributions from net realized gain | (.36) | (.15) | (.08) |
| Total distributions | (.48)C | (.31)C | (.19) |
| Net asset value, end of period | $11.71 | $9.09 | $9.82 |
| Total ReturnD,E,F | 34.40% | (4.73)% | .29% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | .76% | .76% | .76%I |
| Expenses net of fee waivers, if any | .76% | .76% | .76%I |
| Expenses net of all reductions | .76% | .76% | .76%I |
| Net investment income (loss) | .85% | 1.56% | .58%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $3,751 | $1,706 | $168 |
| Portfolio turnover rateJ | 31% | 34% | 23%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Total returns do not include the effect of the sales charges.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2025 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.13 | $9.82 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .07 | .13 | .02 |
| Net realized and unrealized gain (loss) | 3.00 | (.58) | (.02) |
| Total from investment operations | 3.07 | (.45) | – |
| Distributions from net investment income | (.07) | (.08) | (.10) |
| Distributions from net realized gain | (.36) | (.15) | (.08) |
| Total distributions | (.43) | (.24)C | (.18) |
| Net asset value, end of period | $11.77 | $9.13 | $9.82 |
| Total ReturnD,E,F | 33.97% | (4.94)% | .16% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | 1.01% | 1.02%I | 1.02%I,J |
| Expenses net of fee waivers, if any | 1.01% | 1.02%I | 1.02%I,J |
| Expenses net of all reductions | 1.01% | 1.02%I | 1.02%I,J |
| Net investment income (loss) | .60% | 1.31% | .32%J |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,838 | $886 | $746 |
| Portfolio turnover rateK | 31% | 34% | 23%J |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Total returns do not include the effect of the sales charges.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Annualized
K Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2025 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.05 | $9.81 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .01 | .08 | (.01) |
| Net realized and unrealized gain (loss) | 2.98 | (.58) | (.02) |
| Total from investment operations | 2.99 | (.50) | (.03) |
| Distributions from net investment income | (.05) | (.11) | (.09) |
| Distributions from net realized gain | (.36) | (.15) | (.08) |
| Total distributions | (.40)C | (.26) | (.16)C |
| Net asset value, end of period | $11.64 | $9.05 | $9.81 |
| Total ReturnD,E,F | 33.37% | (5.45)% | (.12)% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | 1.51% | 1.51% | 1.51%I |
| Expenses net of fee waivers, if any | 1.51% | 1.51% | 1.51%I |
| Expenses net of all reductions | 1.51% | 1.51% | 1.51%I |
| Net investment income (loss) | .10% | .81% | (.17)%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,273 | $472 | $298 |
| Portfolio turnover rateJ | 31% | 34% | 23%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Total returns do not include the effect of the contingent deferred sales charge.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2025 Fund
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.10 | $9.82 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .18 | .05 |
| Net realized and unrealized gain (loss) | 3.01 | (.57) | (.03) |
| Total from investment operations | 3.13 | (.39) | .02 |
| Distributions from net investment income | (.14) | (.17) | (.13) |
| Distributions from net realized gain | (.36) | (.15) | (.08) |
| Total distributions | (.50) | (.33)C | (.20)C |
| Net asset value, end of period | $11.73 | $9.10 | $9.82 |
| Total ReturnD,E | 34.74% | (4.45)% | .42% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .51% | .52%H | .52%H,I |
| Expenses net of fee waivers, if any | .51% | .52%H | .52%H,I |
| Expenses net of all reductions | .51% | .52%H | .52%H,I |
| Net investment income (loss) | 1.10% | 1.80% | .83%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $43,207 | $21,223 | $1,621 |
| Portfolio turnover rateJ | 31% | 34% | 23%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2025 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.11 | $9.83 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .20 | .05 |
| Net realized and unrealized gain (loss) | 3.01 | (.58) | (.02) |
| Total from investment operations | 3.14 | (.38) | .03 |
| Distributions from net investment income | (.14) | (.18) | (.12) |
| Distributions from net realized gain | (.36) | (.15) | (.08) |
| Total distributions | (.50) | (.34)C | (.20) |
| Net asset value, end of period | $11.75 | $9.11 | $9.83 |
| Total ReturnD,E | 34.83% | (4.34)% | .47% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .41% | .41% | .41%H |
| Expenses net of fee waivers, if any | .41% | .41% | .41%H |
| Expenses net of all reductions | .41% | .41% | .41%H |
| Net investment income (loss) | 1.20% | 1.91% | .93%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $31,964 | $24,031 | $101 |
| Portfolio turnover rateI | 31% | 34% | 23%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2025 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.13 | $9.84 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .14 | .21 | .06 |
| Net realized and unrealized gain (loss) | 3.01 | (.59) | (.02) |
| Total from investment operations | 3.15 | (.38) | .04 |
| Distributions from net investment income | (.15) | (.18) | (.12) |
| Distributions from net realized gain | (.36) | (.16) | (.08) |
| Total distributions | (.51) | (.33)C | (.20) |
| Net asset value, end of period | $11.77 | $9.13 | $9.84 |
| Total ReturnD,E | 34.86% | (4.28)% | .60% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .31% | .31% | .32%H,I |
| Expenses net of fee waivers, if any | .31% | .31% | .32%H,I |
| Expenses net of all reductions | .31% | .31% | .32%H,I |
| Net investment income (loss) | 1.30% | 2.01% | 1.02%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,055,963 | $623,940 | $40,828 |
| Portfolio turnover rateJ | 31% | 34% | 23%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2025 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.10 | $9.83 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .18 | .05 |
| Net realized and unrealized gain (loss) | 3.00 | (.57) | (.02) |
| Total from investment operations | 3.12 | (.39) | .03 |
| Distributions from net investment income | (.13) | (.18) | (.12) |
| Distributions from net realized gain | (.36) | (.15) | (.08) |
| Total distributions | (.49) | (.34)C | (.20) |
| Net asset value, end of period | $11.73 | $9.10 | $9.83 |
| Total ReturnD,E | 34.69% | (4.46)% | .43% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .51% | .51% | .51%H |
| Expenses net of fee waivers, if any | .51% | .51% | .51%H |
| Expenses net of all reductions | .51% | .51% | .51%H |
| Net investment income (loss) | 1.10% | 1.81% | .83%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $24,503 | $7,685 | $100 |
| Portfolio turnover rateI | 31% | 34% | 23%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2025 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.13 | $9.83 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .20 | .05 |
| Net realized and unrealized gain (loss) | 3.01 | (.58) | (.02) |
| Total from investment operations | 3.14 | (.38) | .03 |
| Distributions from net investment income | (.13) | (.17) | (.12) |
| Distributions from net realized gain | (.36) | (.15) | (.08) |
| Total distributions | (.50)C | (.32) | (.20) |
| Net asset value, end of period | $11.77 | $9.13 | $9.83 |
| Total ReturnD,E | 34.72% | (4.30)% | .47% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .41% | .41% | .41%H |
| Expenses net of fee waivers, if any | .41% | .41% | .41%H |
| Expenses net of all reductions | .41% | .41% | .41%H |
| Net investment income (loss) | 1.20% | 1.91% | .93%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $130 | $96 | $101 |
| Portfolio turnover rateI | 31% | 34% | 23%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2025 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $9.12 | $9.84 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .14 | .20 | .06 |
| Net realized and unrealized gain (loss) | 3.01 | (.58) | (.02) |
| Total from investment operations | 3.15 | (.38) | .04 |
| Distributions from net investment income | (.15) | (.18) | (.12) |
| Distributions from net realized gain | (.36) | (.15) | (.08) |
| Total distributions | (.51) | (.34)C | (.20) |
| Net asset value, end of period | $11.76 | $9.12 | $9.84 |
| Total ReturnD,E | 34.98% | (4.35)% | .60% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .31% | .32%H | .31%I |
| Expenses net of fee waivers, if any | .31% | .32%H | .31%I |
| Expenses net of all reductions | .31% | .32%H | .31%I |
| Net investment income (loss) | 1.30% | 2.01% | 1.03%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $8,797 | $3,760 | $104 |
| Portfolio turnover rateJ | 31% | 34% | 23%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2030 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 11.5 |
| Fidelity Series Large Cap Value Index Fund | 9.9 |
| Fidelity Series Blue Chip Growth Fund | 7.6 |
| Fidelity Series Investment Grade Bond Fund | 6.2 |
| Fidelity Series Inflation-Protected Bond Index Fund | 5.6 |
| Fidelity Series Government Bond Index Fund | 5.6 |
| Fidelity Series Large Cap Stock Fund | 5.2 |
| Fidelity Series Large Cap Growth Index Fund | 4.8 |
| Fidelity Series Corporate Bond Fund | 4.5 |
| Fidelity Series Investment Grade Securitized Fund | 4.3 |
| | 65.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 36.5% |
| | International Equity Funds | 30.6% |
| | Bond Funds | 30.8% |
| | Short-Term Funds | 2.1% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® Blend 2030 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 36.5% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 5,318,563 | $92,596,178 |
| Fidelity Series Commodity Strategy Fund (a) | | 6,938,110 | 33,996,737 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 3,703,873 | 58,447,110 |
| Fidelity Series Large Cap Stock Fund (a) | | 3,459,670 | 63,830,907 |
| Fidelity Series Large Cap Value Index Fund (a) | | 8,300,093 | 121,928,363 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 1,739,840 | 30,829,968 |
| Fidelity Series Value Discovery Fund (a) | | 2,829,936 | 45,052,585 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $359,011,235) | | | 446,681,848 |
|
| International Equity Funds - 30.6% | | | |
| Fidelity Series Canada Fund (a) | | 1,661,433 | 21,216,497 |
| Fidelity Series Emerging Markets Fund (a) | | 1,335,730 | 15,614,686 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 5,470,526 | 140,373,700 |
| Fidelity Series International Growth Fund (a) | | 2,908,436 | 52,177,340 |
| Fidelity Series International Index Fund (a) | | 1,865,035 | 21,783,604 |
| Fidelity Series International Small Cap Fund (a) | | 908,258 | 18,819,110 |
| Fidelity Series International Value Fund (a) | | 4,803,707 | 52,120,226 |
| Fidelity Series Overseas Fund (a) | | 4,144,774 | 52,265,601 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $296,625,626) | | | 374,370,764 |
|
| Bond Funds - 30.8% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 5,104,264 | 55,381,263 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 737,550 | 6,696,956 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 223,418 | 2,238,647 |
| Fidelity Series Floating Rate High Income Fund (a) | | 146,808 | 1,349,167 |
| Fidelity Series Government Bond Index Fund (a) | | 6,522,667 | 68,292,325 |
| Fidelity Series High Income Fund (a) | | 828,556 | 7,771,857 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 6,388,097 | 68,608,157 |
| Fidelity Series Investment Grade Bond Fund (a) | | 6,573,595 | 75,793,550 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 5,155,896 | 53,105,731 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 4,240,879 | 33,502,947 |
| Fidelity Series Real Estate Income Fund (a) | | 421,334 | 4,655,742 |
| TOTAL BOND FUNDS | | | |
| (Cost $379,070,063) | | | 377,396,342 |
|
| Short-Term Funds - 2.1% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 8,486,392 | 8,486,392 |
| Fidelity Series Short-Term Credit Fund (a) | | 411,569 | 4,185,662 |
| Fidelity Series Treasury Bill Index Fund (a) | | 1,348,470 | 13,484,702 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $26,149,730) | | | 26,156,756 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $1,060,856,654) | | | 1,224,605,710 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (334,826) |
| NET ASSETS - 100% | | | $1,224,270,884 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $1 |
| Total | $1 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $46,431,602 | $56,227,565 | $31,007,401 | $26,461,542 | $2,824,386 | $18,120,026 | $92,596,178 |
| Fidelity Series Canada Fund | 11,264,649 | 7,411,371 | 4,570,567 | 390,261 | (151,116) | 7,262,160 | 21,216,497 |
| Fidelity Series Commodity Strategy Fund | 22,844,118 | 13,924,339 | 10,157,951 | 117,827 | (469,806) | 7,856,037 | 33,996,737 |
| Fidelity Series Corporate Bond Fund | 26,442,962 | 35,838,624 | 8,093,119 | 1,716,667 | (9,817) | 1,202,613 | 55,381,263 |
| Fidelity Series Emerging Markets Debt Fund | 4,304,484 | 2,336,353 | 533,748 | 287,350 | (7,025) | 596,892 | 6,696,956 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 2,310,614 | 57,001 | 29,547 | (511) | (14,455) | 2,238,647 |
| Fidelity Series Emerging Markets Fund | 6,338,473 | 6,008,440 | 2,450,026 | 203,814 | 165,604 | 5,552,195 | 15,614,686 |
| Fidelity Series Emerging Markets Opportunities Fund | 59,212,903 | 54,188,745 | 23,229,119 | 3,825,575 | 1,056,089 | 49,145,082 | 140,373,700 |
| Fidelity Series Floating Rate High Income Fund | 976,777 | 498,763 | 285,760 | 56,137 | (2,708) | 162,095 | 1,349,167 |
| Fidelity Series Government Bond Index Fund | 40,835,997 | 41,540,882 | 9,665,308 | 1,526,010 | (55,810) | (4,363,436) | 68,292,325 |
| Fidelity Series Government Money Market Fund 0.08% | 6,946,249�� | 22,698,269 | 21,158,126 | 10,381 | -- | -- | 8,486,392 |
| Fidelity Series High Income Fund | 4,969,414 | 2,706,113 | 680,865 | 373,793 | (3,639) | 780,834 | 7,771,857 |
| Fidelity Series Inflation-Protected Bond Index Fund | 35,414,710 | 34,931,757 | 4,639,759 | 783,212 | 5,929 | 2,895,520 | 68,608,157 |
| Fidelity Series International Growth Fund | 34,839,346 | 25,957,557 | 17,423,501 | 6,901,715 | 246,381 | 8,557,557 | 52,177,340 |
| Fidelity Series International Index Fund | 13,264,285 | 6,663,428 | 4,340,900 | 385,790 | (35,274) | 6,232,065 | 21,783,604 |
| Fidelity Series International Small Cap Fund | 10,500,823 | 4,473,821 | 2,427,744 | 147,403 | 29,756 | 6,242,454 | 18,819,110 |
| Fidelity Series International Value Fund | 33,590,402 | 17,336,208 | 17,199,943 | 1,350,608 | (192,698) | 18,586,257 | 52,120,226 |
| Fidelity Series Investment Grade Bond Fund | 38,981,456 | 47,575,198 | 9,680,665 | 3,645,944 | (44,566) | (1,037,873) | 75,793,550 |
| Fidelity Series Investment Grade Securitized Fund | 27,852,376 | 32,515,439 | 6,098,192 | 1,304,353 | (18,220) | (1,145,672) | 53,105,731 |
| Fidelity Series Large Cap Growth Index Fund | 34,828,705 | 23,060,037 | 20,520,527 | 1,598,615 | 1,254,670 | 19,824,225 | 58,447,110 |
| Fidelity Series Large Cap Stock Fund | 35,858,801 | 23,725,241 | 18,286,918 | 3,148,070 | 638,807 | 21,894,976 | 63,830,907 |
| Fidelity Series Large Cap Value Index Fund | 66,802,413 | 44,022,741 | 30,345,266 | 2,363,092 | 599,703 | 40,848,772 | 121,928,363 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 17,290,919 | 27,112,447 | 3,502,826 | 2,681,885 | 120,685 | (7,518,278) | 33,502,947 |
| Fidelity Series Overseas Fund | 32,981,347 | 19,450,122 | 16,058,225 | 551,301 | (267,026) | 16,159,383 | 52,265,601 |
| Fidelity Series Real Estate Income Fund | 2,701,228 | 1,484,044 | 526,845 | 252,904 | (10,280) | 1,007,595 | 4,655,742 |
| Fidelity Series Short-Term Credit Fund | 1,431,604 | 3,124,901 | 404,809 | 37,825 | (1,244) | 35,210 | 4,185,662 |
| Fidelity Series Small Cap Opportunities Fund | 17,739,595 | 9,173,864 | 10,055,368 | 596,295 | 816,887 | 13,154,990 | 30,829,968 |
| Fidelity Series Treasury Bill Index Fund | 17,358,861 | 3,537,597 | 7,343,716 | 79,580 | (20,688) | (47,352) | 13,484,702 |
| Fidelity Series Value Discovery Fund | 20,826,021 | 18,485,706 | 10,217,291 | 905,313 | 403,156 | 15,554,993 | 45,052,585 |
| | $672,830,520 | $588,320,186 | $290,961,486 | $61,732,809 | $6,871,625 | $247,544,865 | $1,224,605,710 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $446,681,848 | $446,681,848 | $-- | $-- |
| International Equity Funds | 374,370,764 | 374,370,764 | -- | -- |
| Bond Funds | 377,396,342 | 377,396,342 | -- | -- |
| Short-Term Funds | 26,156,756 | 26,156,756 | -- | -- |
| Total Investments in Securities: | $1,224,605,710 | $1,224,605,710 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2030 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $1,060,856,654) | $1,224,605,710 | |
| Total Investment in Securities (cost $1,060,856,654) | | $1,224,605,710 |
| Cash | | 1,284 |
| Receivable for investments sold | | 13,994,886 |
| Receivable for fund shares sold | | 1,420,480 |
| Total assets | | 1,240,022,360 |
| Liabilities | | |
| Payable for investments purchased | $14,347,246 | |
| Payable for fund shares redeemed | 1,068,169 | |
| Accrued management fee | 331,571 | |
| Distribution and service plan fees payable | 4,490 | |
| Total liabilities | | 15,751,476 |
| Net Assets | | $1,224,270,884 |
| Net Assets consist of: | | |
| Paid in capital | | $1,038,857,572 |
| Total accumulated earnings (loss) | | 185,413,312 |
| Net Assets | | $1,224,270,884 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($5,650,281 ÷ 480,509 shares)(a) | | $11.76 |
| Maximum offering price per share (100/94.25 of $11.76) | | $12.48 |
| Class M: | | |
| Net Asset Value and redemption price per share ($2,305,505 ÷ 196,089 shares)(a) | | $11.76 |
| Maximum offering price per share (100/96.50 of $11.76) | | $12.19 |
| Class C: | | |
| Net Asset Value and offering price per share ($3,002,782 ÷ 257,010 shares)(a) | | $11.68 |
| Fidelity Freedom Blend 2030 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($32,244,169 ÷ 2,732,961 shares) | | $11.80 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($31,624,057 ÷ 2,676,360 shares) | | $11.82 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($1,111,589,432 ÷ 93,883,932 shares) | | $11.84 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($30,890,403 ÷ 2,618,394 shares) | | $11.80 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($290,437 ÷ 24,534 shares) | | $11.84 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($6,673,818 ÷ 563,878 shares) | | $11.84 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $16,491,783 |
| Income from Fidelity Central Funds | | 1 |
| Total income | | 16,491,784 |
| Expenses | | |
| Management fee | $3,323,867 | |
| Distribution and service plan fees | 38,730 | |
| Independent trustees' fees and expenses | 2,748 | |
| Total expenses before reductions | 3,365,345 | |
| Expense reductions | (36) | |
| Total expenses after reductions | | 3,365,309 |
| Net investment income (loss) | | 13,126,475 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 6,871,625 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 45,241,026 | |
| Total net realized gain (loss) | | 52,112,651 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 247,544,865 | |
| Total change in net unrealized appreciation (depreciation) | | 247,544,865 |
| Net gain (loss) | | 299,657,516 |
| Net increase (decrease) in net assets resulting from operations | | $312,783,991 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $13,126,475 | $12,382,383 |
| Net realized gain (loss) | 52,112,651 | 15,476,861 |
| Change in net unrealized appreciation (depreciation) | 247,544,865 | (85,353,280) |
| Net increase (decrease) in net assets resulting from operations | 312,783,991 | (57,494,036) |
| Distributions to shareholders | (48,584,327) | (22,856,187) |
| Share transactions - net increase (decrease) | 287,249,253 | 729,183,489 |
| Total increase (decrease) in net assets | 551,448,917 | 648,833,266 |
| Net Assets | | |
| Beginning of period | 672,821,967 | 23,988,701 |
| End of period | $1,224,270,884 | $672,821,967 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Blend 2030 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.81 | $9.68 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .10 | .16 | .02 |
| Net realized and unrealized gain (loss) | 3.36 | (.70) | (.09) |
| Total from investment operations | 3.46 | (.54) | (.07) |
| Distributions from net investment income | (.12) | (.16) | (.13) |
| Distributions from net realized gain | (.39) | (.17) | (.12) |
| Total distributions | (.51) | (.33) | (.25) |
| Net asset value, end of period | $11.76 | $8.81 | $9.68 |
| Total ReturnC,D,E | 39.73% | (6.09)% | (.45)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .77% | .77% | .78%H,I |
| Expenses net of fee waivers, if any | .77% | .77% | .78%H,I |
| Expenses net of all reductions | .77% | .77% | .78%H,I |
| Net investment income (loss) | .88% | 1.56% | .39%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $5,650 | $1,516 | $348 |
| Portfolio turnover rateJ | 30% | 31% | 29%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2030 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.79 | $9.68 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .07 | .13 | .01 |
| Net realized and unrealized gain (loss) | 3.37 | (.70) | (.09) |
| Total from investment operations | 3.44 | (.57) | (.08) |
| Distributions from net investment income | (.09) | (.15) | (.12) |
| Distributions from net realized gain | (.38) | (.17) | (.12) |
| Total distributions | (.47) | (.32) | (.24) |
| Net asset value, end of period | $11.76 | $8.79 | $9.68 |
| Total ReturnC,D,E | 39.53% | (6.44)% | (.56)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | 1.02% | 1.02% | 1.02%H |
| Expenses net of fee waivers, if any | 1.02% | 1.02% | 1.02%H |
| Expenses net of all reductions | 1.02% | 1.02% | 1.02%H |
| Net investment income (loss) | .64% | 1.32% | .15%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $2,306 | $976 | $170 |
| Portfolio turnover rateI | 30% | 31% | 29%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2030 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.77 | $9.66 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .01 | .08 | (.02) |
| Net realized and unrealized gain (loss) | 3.35 | (.71) | (.08) |
| Total from investment operations | 3.36 | (.63) | (.10) |
| Distributions from net investment income | (.06) | (.09) | (.12) |
| Distributions from net realized gain | (.39) | (.17) | (.12) |
| Total distributions | (.45) | (.26) | (.24) |
| Net asset value, end of period | $11.68 | $8.77 | $9.66 |
| Total ReturnC,D,E | 38.75% | (6.94)% | (.81)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | 1.52% | 1.51%H | 1.52%I |
| Expenses net of fee waivers, if any | 1.52% | 1.51%H | 1.52%I |
| Expenses net of all reductions | 1.52% | 1.51%H | 1.52%I |
| Net investment income (loss) | .13% | .82% | (.35)%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $3,003 | $987 | $259 |
| Portfolio turnover rateJ | 30% | 31% | 29%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the contingent deferred sales charge.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2030 Fund
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.82 | $9.69 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .18 | .04 |
| Net realized and unrealized gain (loss) | 3.38 | (.70) | (.09) |
| Total from investment operations | 3.50 | (.52) | (.05) |
| Distributions from net investment income | (.13) | (.18) | (.14) |
| Distributions from net realized gain | (.39) | (.17) | (.12) |
| Total distributions | (.52) | (.35) | (.26) |
| Net asset value, end of period | $11.80 | $8.82 | $9.69 |
| Total ReturnC,D | 40.16% | (5.94)% | (.26)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .52% | .53%G | .52%H |
| Expenses net of fee waivers, if any | .52% | .53%G | .52%H |
| Expenses net of all reductions | .52% | .53%G | .52%H |
| Net investment income (loss) | 1.14% | 1.81% | .65%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $32,244 | $17,917 | $762 |
| Portfolio turnover rateI | 30% | 31% | 29%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2030 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.83 | $9.70 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .20 | .04 |
| Net realized and unrealized gain (loss) | 3.39 | (.71) | (.08) |
| Total from investment operations | 3.52 | (.51) | (.04) |
| Distributions from net investment income | (.14) | (.19) | (.14) |
| Distributions from net realized gain | (.39) | (.17) | (.12) |
| Total distributions | (.53) | (.36) | (.26) |
| Net asset value, end of period | $11.82 | $8.83 | $9.70 |
| Total ReturnC,D | 40.29% | (5.86)% | (.15)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .42% | .42% | .42%G |
| Expenses net of fee waivers, if any | .42% | .42% | .42%G |
| Expenses net of all reductions | .42% | .42% | .42%G |
| Net investment income (loss) | 1.24% | 1.91% | .75%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $31,624 | $21,646 | $100 |
| Portfolio turnover rateH | 30% | 31% | 29%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2030 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.85 | $9.70 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .14 | .20 | .05 |
| Net realized and unrealized gain (loss) | 3.39 | (.70) | (.09) |
| Total from investment operations | 3.53 | (.50) | (.04) |
| Distributions from net investment income | (.15) | (.18) | (.14) |
| Distributions from net realized gain | (.39) | (.17) | (.12) |
| Total distributions | (.54) | (.35) | (.26) |
| Net asset value, end of period | $11.84 | $8.85 | $9.70 |
| Total ReturnC,D | 40.33% | (5.71)% | (.11)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .32% | .32% | .33%G,H |
| Expenses net of fee waivers, if any | .32% | .32% | .33%G,H |
| Expenses net of all reductions | .32% | .32% | .33%G,H |
| Net investment income (loss) | 1.34% | 2.02% | .84%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,111,589 | $615,185 | $21,781 |
| Portfolio turnover rateI | 30% | 31% | 29%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2030 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.82 | $9.69 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .18 | .04 |
| Net realized and unrealized gain (loss) | 3.38 | (.70) | (.10) |
| Total from investment operations | 3.50 | (.52) | (.06) |
| Distributions from net investment income | (.13) | (.18) | (.14) |
| Distributions from net realized gain | (.39) | (.17) | (.12) |
| Total distributions | (.52) | (.35) | (.25)C |
| Net asset value, end of period | $11.80 | $8.82 | $9.69 |
| Total ReturnD,E | 40.19% | (5.92)% | (.29)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .52% | .53%H | .52%I |
| Expenses net of fee waivers, if any | .52% | .53%H | .52%I |
| Expenses net of all reductions | .52% | .53%H | .52%I |
| Net investment income (loss) | 1.14% | 1.81% | .65%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $30,890 | $10,530 | $100 |
| Portfolio turnover rateJ | 30% | 31% | 29%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2030 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.85 | $9.70 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .19 | .04 |
| Net realized and unrealized gain (loss) | 3.39 | (.70) | (.08) |
| Total from investment operations | 3.52 | (.51) | (.04) |
| Distributions from net investment income | (.14) | (.17) | (.14) |
| Distributions from net realized gain | (.39) | (.17) | (.12) |
| Total distributions | (.53) | (.34) | (.26) |
| Net asset value, end of period | $11.84 | $8.85 | $9.70 |
| Total ReturnC,D | 40.22% | (5.83)% | (.15)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .42% | .42% | .42%G |
| Expenses net of fee waivers, if any | .42% | .42% | .42%G |
| Expenses net of all reductions | .42% | .42% | .42%G |
| Net investment income (loss) | 1.24% | 1.92% | .75%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $290 | $141 | $100 |
| Portfolio turnover rateH | 30% | 31% | 29%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2030 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.85 | $9.70 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .19 | .05 |
| Net realized and unrealized gain (loss) | 3.38 | (.69) | (.09) |
| Total from investment operations | 3.53 | (.50) | (.04) |
| Distributions from net investment income | (.15) | (.18) | (.14) |
| Distributions from net realized gain | (.39) | (.17) | (.12) |
| Total distributions | (.54) | (.35) | (.26) |
| Net asset value, end of period | $11.84 | $8.85 | $9.70 |
| Total ReturnC,D | 40.39% | (5.72)% | (.11)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .32% | .33%G | .32%H |
| Expenses net of fee waivers, if any | .32% | .33%G | .32%H |
| Expenses net of all reductions | .32% | .33%G | .32%H |
| Net investment income (loss) | 1.34% | 2.01% | .85%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $6,674 | $3,925 | $368 |
| Portfolio turnover rateI | 30% | 31% | 29%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2035 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Emerging Markets Opportunities Fund | 13.2 |
| Fidelity Series Large Cap Value Index Fund | 12.7 |
| Fidelity Series Blue Chip Growth Fund | 9.6 |
| Fidelity Series Large Cap Stock Fund | 6.6 |
| Fidelity Series Large Cap Growth Index Fund | 6.1 |
| Fidelity Series Overseas Fund | 5.3 |
| Fidelity Series International Growth Fund | 5.3 |
| Fidelity Series International Value Fund | 5.3 |
| Fidelity Series Value Discovery Fund | 4.7 |
| Fidelity Series Small Cap Opportunities Fund | 3.2 |
| | 72.0 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 45.7% |
| | International Equity Funds | 36.7% |
| | Bond Funds | 16.8% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® Blend 2035 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 45.7% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 6,405,328 | $111,516,752 |
| Fidelity Series Commodity Strategy Fund (a) | | 6,558,109 | 32,134,732 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 4,460,942 | 70,393,671 |
| Fidelity Series Large Cap Stock Fund (a) | | 4,167,132 | 76,883,581 |
| Fidelity Series Large Cap Value Index Fund (a) | | 9,997,517 | 146,863,528 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 2,095,498 | 37,132,221 |
| Fidelity Series Value Discovery Fund (a) | | 3,408,664 | 54,265,924 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $428,035,945) | | | 529,190,409 |
|
| International Equity Funds - 36.7% | | | |
| Fidelity Series Canada Fund (a) | | 1,945,786 | 24,847,683 |
| Fidelity Series Emerging Markets Fund (a) | | 1,451,700 | 16,970,367 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 5,945,404 | 152,559,057 |
| Fidelity Series International Growth Fund (a) | | 3,406,226 | 61,107,700 |
| Fidelity Series International Index Fund (a) | | 2,184,265 | 25,512,221 |
| Fidelity Series International Small Cap Fund (a) | | 1,063,751 | 22,040,930 |
| Fidelity Series International Value Fund (a) | | 5,625,908 | 61,041,103 |
| Fidelity Series Overseas Fund (a) | | 4,854,121 | 61,210,465 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $342,187,432) | | | 425,289,526 |
|
| Bond Funds - 16.8% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 2,381,983 | 25,844,512 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 697,257 | 6,331,097 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 211,200 | 2,116,222 |
| Fidelity Series Floating Rate High Income Fund (a) | | 138,788 | 1,275,463 |
| Fidelity Series Government Bond Index Fund (a) | | 3,044,474 | 31,875,644 |
| Fidelity Series High Income Fund (a) | | 783,278 | 7,347,150 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 2,153,031 | 23,123,548 |
| Fidelity Series Investment Grade Bond Fund (a) | | 3,067,999 | 35,374,026 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 2,406,445 | 24,786,379 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 4,009,312 | 31,673,562 |
| Fidelity Series Real Estate Income Fund (a) | | 398,320 | 4,401,433 |
| TOTAL BOND FUNDS | | | |
| (Cost $198,781,543) | | | 194,149,036 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 49 | 49 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 2,999,304 | 2,999,304 |
| Fidelity Series Short-Term Credit Fund (a) | | 145,501 | 1,479,747 |
| Fidelity Series Treasury Bill Index Fund (a) | | 476,576 | 4,765,756 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $9,221,951) | | | 9,244,856 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $978,226,871) | | | 1,157,873,827 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (319,477) |
| NET ASSETS - 100% | | | $1,157,554,350 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $53,605,125 | $62,421,911 | $28,153,913 | $30,475,400 | $2,651,735 | $20,991,894 | $111,516,752 |
| Fidelity Series Canada Fund | 12,956,167 | 7,887,826 | 3,956,428 | 444,956 | (141,000) | 8,101,118 | 24,847,683 |
| Fidelity Series Commodity Strategy Fund | 20,802,498 | 13,480,171 | 8,891,551 | 107,251 | (394,287) | 7,137,901 | 32,134,732 |
| Fidelity Series Corporate Bond Fund | 10,151,361 | 21,749,388 | 6,305,287 | 696,364 | (61,018) | 310,068 | 25,844,512 |
| Fidelity Series Emerging Markets Debt Fund | 4,120,323 | 2,131,701 | 470,615 | 266,101 | (6,243) | 555,931 | 6,331,097 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 2,233,682 | 91,452 | 27,517 | (1,051) | (24,957) | 2,116,222 |
| Fidelity Series Emerging Markets Fund | 6,831,507 | 6,148,544 | 1,906,567 | 214,853 | 89,074 | 5,807,809 | 16,970,367 |
| Fidelity Series Emerging Markets Opportunities Fund | 62,858,766 | 54,612,447 | 17,019,014 | 4,042,613 | 525,096 | 51,581,762 | 152,559,057 |
| Fidelity Series Floating Rate High Income Fund | 913,185 | 428,992 | 212,128 | 51,005 | (1,697) | 147,111 | 1,275,463 |
| Fidelity Series Government Bond Index Fund | 15,858,297 | 25,298,177 | 7,362,864 | 617,117 | (57,629) | (1,860,337) | 31,875,644 |
| Fidelity Series Government Money Market Fund 0.08% | 5,905,521 | 11,792,605 | 14,698,822 | 5,770 | -- | -- | 2,999,304 |
| Fidelity Series High Income Fund | 4,649,299 | 2,528,843 | 541,539 | 341,838 | (943) | 711,490 | 7,347,150 |
| Fidelity Series Inflation-Protected Bond Index Fund | 13,647,353 | 11,113,054 | 2,634,940 | 261,575 | 8,327 | 989,754 | 23,123,548 |
| Fidelity Series International Growth Fund | 38,109,618 | 28,394,524 | 14,913,336 | 7,855,271 | 29,020 | 9,487,874 | 61,107,700 |
| Fidelity Series International Index Fund | 14,782,569 | 6,891,064 | 3,080,628 | 439,764 | 12,609 | 6,906,607 | 25,512,221 |
| Fidelity Series International Small Cap Fund | 11,377,259 | 5,052,510 | 1,312,159 | 164,225 | 60,573 | 6,862,747 | 22,040,930 |
| Fidelity Series International Value Fund | 36,453,641 | 18,065,513 | 14,063,502 | 1,537,785 | 111,266 | 20,474,185 | 61,041,103 |
| Fidelity Series Investment Grade Bond Fund | 14,136,106 | 29,390,880 | 7,514,562 | 1,474,123 | (47,908) | (590,490) | 35,374,026 |
| Fidelity Series Investment Grade Securitized Fund | 10,828,640 | 19,739,937 | 5,263,439 | 529,642 | (15,846) | (502,913) | 24,786,379 |
| Fidelity Series Large Cap Growth Index Fund | 39,935,026 | 24,577,672 | 18,116,621 | 1,849,210 | 1,178,564 | 22,819,030 | 70,393,671 |
| Fidelity Series Large Cap Stock Fund | 41,481,954 | 25,300,961 | 16,043,098 | 3,614,824 | 461,207 | 25,682,557 | 76,883,581 |
| Fidelity Series Large Cap Value Index Fund | 77,082,200 | 47,731,492 | 25,992,403 | 2,764,163 | 655,752 | 47,386,487 | 146,863,528 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 15,259,420 | 26,360,553 | 3,063,049 | 2,465,667 | 20,505 | (6,903,867) | 31,673,562 |
| Fidelity Series Overseas Fund | 36,192,417 | 20,706,840 | 13,299,552 | 627,399 | (411,595) | 18,022,355 | 61,210,465 |
| Fidelity Series Real Estate Income Fund | 2,526,561 | 1,265,475 | 303,453 | 227,463 | (290) | 913,140 | 4,401,433 |
| Fidelity Series Short-Term Credit Fund | 1,406,173 | 645,406 | 611,455 | 34,051 | (1,693) | 41,316 | 1,479,747 |
| Fidelity Series Small Cap Opportunities Fund | 20,553,439 | 10,267,930 | 9,803,249 | 692,113 | 707,862 | 15,406,239 | 37,132,221 |
| Fidelity Series Treasury Bill Index Fund | 16,132,168 | 488,830 | 11,794,616 | 70,447 | (26,394) | (34,232) | 4,765,756 |
| Fidelity Series Value Discovery Fund | 24,115,610 | 20,080,163 | 8,472,371 | 1,058,649 | 265,774 | 18,276,748 | 54,265,924 |
| | $612,672,203 | $506,787,091 | $245,892,613 | $62,957,156 | $5,609,770 | $278,697,327 | $1,157,873,778 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $529,190,409 | $529,190,409 | $-- | $-- |
| International Equity Funds | 425,289,526 | 425,289,526 | -- | -- |
| Bond Funds | 194,149,036 | 194,149,036 | -- | -- |
| Short-Term Funds | 9,244,856 | 9,244,856 | -- | -- |
| Total Investments in Securities: | $1,157,873,827 | $1,157,873,827 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2035 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Fidelity Central Funds (cost $49) | $49 | |
| Other affiliated issuers (cost $978,226,822) | 1,157,873,778 | |
| Total Investment in Securities (cost $978,226,871) | | $1,157,873,827 |
| Cash | | 504 |
| Receivable for investments sold | | 12,142,033 |
| Receivable for fund shares sold | | 1,136,070 |
| Total assets | | 1,171,152,434 |
| Liabilities | | |
| Payable for investments purchased | $13,010,880 | |
| Payable for fund shares redeemed | 265,475 | |
| Accrued management fee | 319,818 | |
| Distribution and service plan fees payable | 1,911 | |
| Total liabilities | | 13,598,084 |
| Net Assets | | $1,157,554,350 |
| Net Assets consist of: | | |
| Paid in capital | | $955,954,095 |
| Total accumulated earnings (loss) | | 201,600,255 |
| Net Assets | | $1,157,554,350 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($2,089,459 ÷ 173,370 shares)(a) | | $12.05 |
| Maximum offering price per share (100/94.25 of $12.05) | | $12.79 |
| Class M: | | |
| Net Asset Value and redemption price per share ($886,846 ÷ 73,815 shares)(a) | | $12.01 |
| Maximum offering price per share (100/96.50 of $12.01) | | $12.45 |
| Class C: | | |
| Net Asset Value and offering price per share ($1,361,606 ÷ 113,871 shares)(a) | | $11.96 |
| Fidelity Freedom Blend 2035 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($37,660,677 ÷ 3,118,998 shares) | | $12.07 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($24,728,069 ÷ 2,045,007 shares) | | $12.09 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($1,067,514,149 ÷ 88,091,019 shares) | | $12.12 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($17,238,255 ÷ 1,427,799 shares) | | $12.07 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($345,153 ÷ 28,514 shares) | | $12.10 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($5,730,136 ÷ 473,389 shares) | | $12.10 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $15,504,591 |
| Expenses | | |
| Management fee | $3,115,923 | |
| Distribution and service plan fees | 15,664 | |
| Independent trustees' fees and expenses | 2,507 | |
| Total expenses before reductions | 3,134,094 | |
| Expense reductions | (61) | |
| Total expenses after reductions | | 3,134,033 |
| Net investment income (loss) | | 12,370,558 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 5,609,770 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 47,452,565 | |
| Total net realized gain (loss) | | 53,062,335 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 278,697,327 | |
| Total change in net unrealized appreciation (depreciation) | | 278,697,327 |
| Net gain (loss) | | 331,759,662 |
| Net increase (decrease) in net assets resulting from operations | | $344,130,220 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $12,370,558 | $11,474,916 |
| Net realized gain (loss) | 53,062,335 | 16,132,295 |
| Change in net unrealized appreciation (depreciation) | 278,697,327 | (100,716,270) |
| Net increase (decrease) in net assets resulting from operations | 344,130,220 | (73,109,059) |
| Distributions to shareholders | (48,036,223) | (23,043,735) |
| Share transactions - net increase (decrease) | 248,796,115 | 683,771,373 |
| Total increase (decrease) in net assets | 544,890,112 | 587,618,579 |
| Net Assets | | |
| Beginning of period | 612,664,238 | 25,045,659 |
| End of period | $1,157,554,350 | $612,664,238 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Blend 2035 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.46 | $9.60 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .10 | .15 | –C |
| Net realized and unrealized gain (loss) | 4.03 | (.94) | (.15) |
| Total from investment operations | 4.13 | (.79) | (.15) |
| Distributions from net investment income | (.12) | (.17) | (.14) |
| Distributions from net realized gain | (.42) | (.19) | (.12) |
| Total distributions | (.54) | (.35)D | (.25)D |
| Net asset value, end of period | $12.05 | $8.46 | $9.60 |
| Total ReturnE,F,G | 49.46% | (8.89)% | (1.18)% |
| Ratios to Average Net AssetsH,I | | | |
| Expenses before reductions | .78% | .78% | .79%J,K |
| Expenses net of fee waivers, if any | .78% | .78% | .79%J,K |
| Expenses net of all reductions | .78% | .78% | .79%J,K |
| Net investment income (loss) | .92% | 1.52% | .09%J |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $2,089 | $790 | $357 |
| Portfolio turnover rateL | 27% | 31% | 16%J |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
G Total returns do not include the effect of the sales charges.
H Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
I Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
J Annualized
K On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
L Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2035 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.46 | $9.59 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .07 | .13 | (.01) |
| Net realized and unrealized gain (loss) | 4.02 | (.94) | (.15) |
| Total from investment operations | 4.09 | (.81) | (.16) |
| Distributions from net investment income | (.12) | (.14) | (.13) |
| Distributions from net realized gain | (.41) | (.19) | (.12) |
| Total distributions | (.54)C | (.32)C | (.25) |
| Net asset value, end of period | $12.01 | $8.46 | $9.59 |
| Total ReturnD,E | 48.92% | (9.06)% | (1.30)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | 1.03% | 1.03% | 1.03%H |
| Expenses net of fee waivers, if any | 1.03% | 1.03% | 1.03%H |
| Expenses net of all reductions | 1.03% | 1.03% | 1.03%H |
| Net investment income (loss) | .67% | 1.27% | (.16)%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $887 | $291 | $177 |
| Portfolio turnover rateI | 27% | 31% | 16%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2035 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.44 | $9.59 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .02 | .08 | (.04) |
| Net realized and unrealized gain (loss) | 4.00 | (.94) | (.14) |
| Total from investment operations | 4.02 | (.86) | (.18) |
| Distributions from net investment income | (.09) | (.10) | (.11) |
| Distributions from net realized gain | (.41) | (.19) | (.12) |
| Total distributions | (.50) | (.29) | (.23) |
| Net asset value, end of period | $11.96 | $8.44 | $9.59 |
| Total ReturnC,D | 48.25% | (9.54)% | (1.56)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | 1.54%G | 1.53% | 1.54%G,H |
| Expenses net of fee waivers, if any | 1.54%G | 1.53% | 1.54%G,H |
| Expenses net of all reductions | 1.54%G | 1.53% | 1.54%G,H |
| Net investment income (loss) | .16% | .77% | (.67)%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,362 | $274 | $207 |
| Portfolio turnover rateI | 27% | 31% | 16%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns do not include the effect of the contingent deferred sales charge.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2035 Fund
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.48 | $9.61 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .17 | .02 |
| Net realized and unrealized gain (loss) | 4.03 | (.94) | (.15) |
| Total from investment operations | 4.16 | (.77) | (.13) |
| Distributions from net investment income | (.14) | (.18) | (.15) |
| Distributions from net realized gain | (.43) | (.19) | (.12) |
| Total distributions | (.57) | (.36)C | (.26)C |
| Net asset value, end of period | $12.07 | $8.48 | $9.61 |
| Total ReturnD | 49.72% | (8.68)% | (.96)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .53% | .54%G | .53%H |
| Expenses net of fee waivers, if any | .53% | .54%G | .53%H |
| Expenses net of all reductions | .53% | .54%G | .53%H |
| Net investment income (loss) | 1.17% | 1.76% | .34%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $37,661 | $14,672 | $984 |
| Portfolio turnover rateI | 27% | 31% | 16%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2035 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.48 | $9.61 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .14 | .19 | .02 |
| Net realized and unrealized gain (loss) | 4.04 | (.94) | (.15) |
| Total from investment operations | 4.18 | (.75) | (.13) |
| Distributions from net investment income | (.14) | (.19) | (.15) |
| Distributions from net realized gain | (.43) | (.19) | (.12) |
| Total distributions | (.57) | (.38) | (.26)C |
| Net asset value, end of period | $12.09 | $8.48 | $9.61 |
| Total ReturnD | 49.96% | (8.56)% | (.97)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .43% | .43% | .43%G |
| Expenses net of fee waivers, if any | .43% | .43% | .43%G |
| Expenses net of all reductions | .43% | .43% | .43%G |
| Net investment income (loss) | 1.27% | 1.87% | .44%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $24,728 | $16,000 | $99 |
| Portfolio turnover rateH | 27% | 31% | 16%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2035 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.50 | $9.61 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .20 | .03 |
| Net realized and unrealized gain (loss) | 4.04 | (.94) | (.15) |
| Total from investment operations | 4.19 | (.74) | (.12) |
| Distributions from net investment income | (.15) | (.18) | (.15) |
| Distributions from net realized gain | (.43) | (.19) | (.12) |
| Total distributions | (.57)C | (.37) | (.27) |
| Net asset value, end of period | $12.12 | $8.50 | $9.61 |
| Total ReturnD | 50.08% | (8.41)% | (.93)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .33% | .33% | .34%G,H |
| Expenses net of fee waivers, if any | .33% | .33% | .34%G,H |
| Expenses net of all reductions | .33% | .33% | .34%G,H |
| Net investment income (loss) | 1.37% | 1.97% | .54%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,067,514 | $572,455 | $22,910 |
| Portfolio turnover rateI | 27% | 31% | 16%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2035 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.48 | $9.61 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .18 | .02 |
| Net realized and unrealized gain (loss) | 4.02 | (.94) | (.15) |
| Total from investment operations | 4.15 | (.76) | (.13) |
| Distributions from net investment income | (.13) | (.19) | (.14) |
| Distributions from net realized gain | (.43) | (.19) | (.12) |
| Total distributions | (.56) | (.37)C | (.26) |
| Net asset value, end of period | $12.07 | $8.48 | $9.61 |
| Total ReturnD | 49.67% | (8.60)% | (1.01)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .53% | .54%G | .53%H |
| Expenses net of fee waivers, if any | .53% | .54%G | .53%H |
| Expenses net of all reductions | .53% | .54%G | .53%H |
| Net investment income (loss) | 1.17% | 1.76% | .34%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $17,238 | $5,807 | $108 |
| Portfolio turnover rateI | 27% | 31% | 16%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2035 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.49 | $9.61 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .14 | .19 | .02 |
| Net realized and unrealized gain (loss) | 4.03 | (.94) | (.15) |
| Total from investment operations | 4.17 | (.75) | (.13) |
| Distributions from net investment income | (.14) | (.18) | (.15) |
| Distributions from net realized gain | (.43) | (.19) | (.12) |
| Total distributions | (.56)C | (.37) | (.26)C |
| Net asset value, end of period | $12.10 | $8.49 | $9.61 |
| Total ReturnD | 49.87% | (8.52)% | (.97)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .43% | .43% | .43%G |
| Expenses net of fee waivers, if any | .43% | .43% | .43%G |
| Expenses net of all reductions | .43% | .43% | .43%G |
| Net investment income (loss) | 1.27% | 1.87% | .44%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $345 | $228 | $103 |
| Portfolio turnover rateH | 27% | 31% | 16%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2035 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.50 | $9.62 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .18 | .03 |
| Net realized and unrealized gain (loss) | 4.03 | (.93) | (.14) |
| Total from investment operations | 4.18 | (.75) | (.11) |
| Distributions from net investment income | (.15) | (.19) | (.15) |
| Distributions from net realized gain | (.43) | (.19) | (.12) |
| Total distributions | (.58) | (.37)C | (.27) |
| Net asset value, end of period | $12.10 | $8.50 | $9.62 |
| Total ReturnD | 49.96% | (8.48)% | (.83)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .33% | .34%G | .33%H |
| Expenses net of fee waivers, if any | .33% | .34%G | .33%H |
| Expenses net of all reductions | .33% | .34%G | .33%H |
| Net investment income (loss) | 1.37% | 1.96% | .54%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $5,730 | $2,148 | $99 |
| Portfolio turnover rateI | 27% | 31% | 16%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2040 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Large Cap Value Index Fund | 14.5 |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Blue Chip Growth Fund | 11.0 |
| Fidelity Series Large Cap Stock Fund | 7.6 |
| Fidelity Series Large Cap Growth Index Fund | 6.9 |
| Fidelity Series International Growth Fund | 6.0 |
| Fidelity Series Overseas Fund | 6.0 |
| Fidelity Series International Value Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 5.3 |
| Fidelity Series Small Cap Opportunities Fund | 3.7 |
| | 81.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® Blend 2040 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 51.8% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 6,609,110 | $115,064,605 |
| Fidelity Series Commodity Strategy Fund (a) | | 5,925,188 | 29,033,424 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 4,603,165 | 72,637,944 |
| Fidelity Series Large Cap Stock Fund (a) | | 4,300,639 | 79,346,798 |
| Fidelity Series Large Cap Value Index Fund (a) | | 10,317,869 | 151,569,490 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 2,162,630 | 38,321,805 |
| Fidelity Series Value Discovery Fund (a) | | 3,517,830 | 56,003,861 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $440,830,458) | | | 541,977,927 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 1,981,573 | 25,304,685 |
| Fidelity Series Emerging Markets Fund (a) | | 1,423,307 | 16,638,463 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 5,829,315 | 149,580,233 |
| Fidelity Series International Growth Fund (a) | | 3,475,241 | 62,345,828 |
| Fidelity Series International Index Fund (a) | | 2,224,513 | 25,982,313 |
| Fidelity Series International Small Cap Fund (a) | | 1,075,747 | 22,289,484 |
| Fidelity Series International Value Fund (a) | | 5,733,601 | 62,209,570 |
| Fidelity Series Overseas Fund (a) | | 4,943,410 | 62,336,403 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $346,539,135) | | | 426,686,979 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 10,564 | 114,625 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 630,138 | 5,721,650 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 190,870 | 1,912,521 |
| Fidelity Series Floating Rate High Income Fund (a) | | 125,428 | 1,152,680 |
| Fidelity Series Government Bond Index Fund (a) | | 13,405 | 140,347 |
| Fidelity Series High Income Fund (a) | | 707,856 | 6,639,688 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 1,945,799 | 20,897,886 |
| Fidelity Series Investment Grade Bond Fund (a) | | 13,695 | 157,899 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 10,671 | 109,909 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 3,623,430 | 28,625,097 |
| Fidelity Series Real Estate Income Fund (a) | | 359,981 | 3,977,790 |
| TOTAL BOND FUNDS | | | |
| (Cost $72,211,882) | | | 69,450,092 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 2,710,652 | 2,710,652 |
| Fidelity Series Short-Term Credit Fund (a) | | 131,496 | 1,337,314 |
| Fidelity Series Treasury Bill Index Fund (a) | | 430,706 | 4,307,063 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $8,334,335) | | | 8,355,029 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $867,915,810) | | | 1,046,470,027 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (295,949) |
| NET ASSETS - 100% | | | $1,046,174,078 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $53,295,544 | $62,246,856 | $23,599,036 | $30,489,256 | $2,129,826 | $20,991,415 | $115,064,605 |
| Fidelity Series Canada Fund | 12,765,429 | 7,318,089 | 2,662,696 | 443,673 | (131,806) | 8,015,669 | 25,304,685 |
| Fidelity Series Commodity Strategy Fund | 18,602,659 | 11,710,447 | 7,223,995 | 94,285 | (492,616) | 6,436,929 | 29,033,424 |
| Fidelity Series Corporate Bond Fund | 164,811 | 65,680 | 117,813 | 3,513 | (9,537) | 11,484 | 114,625 |
| Fidelity Series Emerging Markets Debt Fund | 3,735,342 | 2,163,640 | 666,046 | 237,212 | (11,303) | 500,017 | 5,721,650 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 2,012,576 | 76,319 | 24,590 | (842) | (22,894) | 1,912,521 |
| Fidelity Series Emerging Markets Fund | 6,612,327 | 5,809,335 | 1,391,995 | 203,785 | 49,739 | 5,559,057 | 16,638,463 |
| Fidelity Series Emerging Markets Opportunities Fund | 60,871,006 | 51,307,125 | 12,188,714 | 3,882,641 | 274,899 | 49,315,917 | 149,580,233 |
| Fidelity Series Floating Rate High Income Fund | 829,033 | 366,068 | 172,198 | 45,282 | (1,295) | 131,072 | 1,152,680 |
| Fidelity Series Government Bond Index Fund | 251,199 | 72,210 | 174,367 | 3,120 | (300) | (8,395) | 140,347 |
| Fidelity Series Government Money Market Fund 0.08% | 5,078,540 | 11,224,649 | 13,592,537 | 4,745 | -- | -- | 2,710,652 |
| Fidelity Series High Income Fund | 4,206,121 | 2,332,916 | 533,151 | 303,728 | (982) | 634,784 | 6,639,688 |
| Fidelity Series Inflation-Protected Bond Index Fund | 12,505,366 | 10,163,962 | 2,652,062 | 231,368 | (11,604) | 892,224 | 20,897,886 |
| Fidelity Series International Growth Fund | 37,076,431 | 26,941,081 | 10,937,110 | 7,784,924 | 22,784 | 9,242,642 | 62,345,828 |
| Fidelity Series International Index Fund | 14,568,713 | 6,638,575 | 2,029,130 | 438,412 | (23,773) | 6,827,928 | 25,982,313 |
| Fidelity Series International Small Cap Fund | 11,048,153 | 5,245,151 | 773,359 | 163,128 | 51,050 | 6,718,489 | 22,289,484 |
| Fidelity Series International Value Fund | 35,647,691 | 17,313,341 | 11,103,753 | 1,530,300 | 129,291 | 20,223,000 | 62,209,570 |
| Fidelity Series Investment Grade Bond Fund | 248,523 | 88,084 | 176,024 | 7,509 | (6,570) | 3,886 | 157,899 |
| Fidelity Series Investment Grade Securitized Fund | 172,200 | 61,811 | 121,568 | 2,674 | (64) | (2,470) | 109,909 |
| Fidelity Series Large Cap Growth Index Fund | 39,786,276 | 23,434,568 | 14,304,802 | 1,851,434 | 1,156,377 | 22,565,525 | 72,637,944 |
| Fidelity Series Large Cap Stock Fund | 41,404,147 | 25,390,400 | 13,647,167 | 3,601,116 | 317,520 | 25,881,898 | 79,346,798 |
| Fidelity Series Large Cap Value Index Fund | 76,703,329 | 46,948,946 | 20,147,115 | 2,781,346 | 514,436 | 47,549,894 | 151,569,490 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 14,013,171 | 25,621,408 | 4,880,033 | 2,189,960 | 20,211 | (6,149,660) | 28,625,097 |
| Fidelity Series Overseas Fund | 35,484,619 | 19,934,290 | 10,324,722 | 621,733 | (350,700) | 17,592,916 | 62,336,403 |
| Fidelity Series Real Estate Income Fund | 2,292,455 | 1,123,971 | 252,391 | 200,636 | (205) | 813,960 | 3,977,790 |
| Fidelity Series Short-Term Credit Fund | 1,321,969 | 522,305 | 544,372 | 31,897 | (1,682) | 39,094 | 1,337,314 |
| Fidelity Series Small Cap Opportunities Fund | 20,518,813 | 10,496,030 | 8,720,619 | 694,576 | 469,112 | 15,558,469 | 38,321,805 |
| Fidelity Series Treasury Bill Index Fund | 14,573,808 | 381,788 | 10,592,751 | 63,627 | (25,051) | (30,731) | 4,307,063 |
| Fidelity Series Value Discovery Fund | 24,063,777 | 20,413,756 | 7,047,237 | 1,062,530 | 140,775 | 18,432,790 | 56,003,861 |
| | $547,841,452 | $397,349,058 | $180,653,082 | $58,993,000 | $4,207,690 | $277,724,909 | $1,046,470,027 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $541,977,927 | $541,977,927 | $-- | $-- |
| International Equity Funds | 426,686,979 | 426,686,979 | -- | -- |
| Bond Funds | 69,450,092 | 69,450,092 | -- | -- |
| Short-Term Funds | 8,355,029 | 8,355,029 | -- | -- |
| Total Investments in Securities: | $1,046,470,027 | $1,046,470,027 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2040 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $867,915,810) | $1,046,470,027 | |
| Total Investment in Securities (cost $867,915,810) | | $1,046,470,027 |
| Cash | | 255 |
| Receivable for investments sold | | 8,350,927 |
| Receivable for fund shares sold | | 1,249,308 |
| Total assets | | 1,056,070,517 |
| Liabilities | | |
| Payable for investments purchased | $9,479,618 | |
| Payable for fund shares redeemed | 120,018 | |
| Accrued management fee | 294,712 | |
| Distribution and service plan fees payable | 2,091 | |
| Total liabilities | | 9,896,439 |
| Net Assets | | $1,046,174,078 |
| Net Assets consist of: | | |
| Paid in capital | | $846,491,361 |
| Total accumulated earnings (loss) | | 199,682,717 |
| Net Assets | | $1,046,174,078 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($2,843,490 ÷ 232,356 shares)(a) | | $12.24 |
| Maximum offering price per share (100/94.25 of $12.24) | | $12.99 |
| Class M: | | |
| Net Asset Value and redemption price per share ($853,347 ÷ 69,744 shares)(a) | | $12.24 |
| Maximum offering price per share (100/96.50 of $12.24) | | $12.68 |
| Class C: | | |
| Net Asset Value and offering price per share ($1,450,656 ÷ 119,437 shares)(a) | | $12.15 |
| Fidelity Freedom Blend 2040 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($33,442,041 ÷ 2,723,591 shares) | | $12.28 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($19,429,482 ÷ 1,579,500 shares) | | $12.30 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($972,866,710 ÷ 78,921,033 shares) | | $12.33 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($11,758,773 ÷ 957,614 shares) | | $12.28 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($138,392 ÷ 11,225 shares) | | $12.33 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($3,391,187 ÷ 275,109 shares) | | $12.33 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $13,693,916 |
| Expenses | | |
| Management fee | $2,853,440 | |
| Distribution and service plan fees | 17,249 | |
| Independent trustees' fees and expenses | 2,231 | |
| Total expenses before reductions | 2,872,920 | |
| Expense reductions | (1) | |
| Total expenses after reductions | | 2,872,919 |
| Net investment income (loss) | | 10,820,997 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 4,207,690 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 45,299,084 | |
| Total net realized gain (loss) | | 49,506,774 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 277,724,909 | |
| Total change in net unrealized appreciation (depreciation) | | 277,724,909 |
| Net gain (loss) | | 327,231,683 |
| Net increase (decrease) in net assets resulting from operations | | $338,052,680 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $10,820,997 | $10,143,182 |
| Net realized gain (loss) | 49,506,774 | 14,434,632 |
| Change in net unrealized appreciation (depreciation) | 277,724,909 | (100,419,627) |
| Net increase (decrease) in net assets resulting from operations | 338,052,680 | (75,841,813) |
| Distributions to shareholders | (43,566,869) | (20,176,064) |
| Share transactions - net increase (decrease) | 203,854,475 | 627,158,598 |
| Total increase (decrease) in net assets | 498,340,286 | 531,140,721 |
| Net Assets | | |
| Beginning of period | 547,833,792 | 16,693,071 |
| End of period | $1,046,174,078 | $547,833,792 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Blend 2040 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.27 | $9.55 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .10 | .15 | –C |
| Net realized and unrealized gain (loss) | 4.43 | (1.09) | (.17) |
| Total from investment operations | 4.53 | (.94) | (.17) |
| Distributions from net investment income | (.13) | (.17) | (.14) |
| Distributions from net realized gain | (.43) | (.17) | (.14) |
| Total distributions | (.56) | (.34) | (.28) |
| Net asset value, end of period | $12.24 | $8.27 | $9.55 |
| Total ReturnD,E,F | 55.55% | (10.57)% | (1.39)% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | .79% | .79% | .80%I,J |
| Expenses net of fee waivers, if any | .79% | .79% | .80%I,J |
| Expenses net of all reductions | .79% | .79% | .80%I,J |
| Net investment income (loss) | .89% | 1.48% | .01%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $2,843 | $695 | $255 |
| Portfolio turnover rateK | 23% | 27% | 17%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Total returns do not include the effect of the sales charges.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
K Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2040 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.28 | $9.55 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .07 | .12 | (.01) |
| Net realized and unrealized gain (loss) | 4.43 | (1.08) | (.18) |
| Total from investment operations | 4.50 | (.96) | (.19) |
| Distributions from net investment income | (.11) | (.14) | (.12) |
| Distributions from net realized gain | (.43) | (.17) | (.14) |
| Total distributions | (.54) | (.31) | (.26) |
| Net asset value, end of period | $12.24 | $8.28 | $9.55 |
| Total ReturnC,D,E | 55.06% | (10.74)% | (1.59)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | 1.04% | 1.04% | 1.04%H |
| Expenses net of fee waivers, if any | 1.04% | 1.04% | 1.04%H |
| Expenses net of all reductions | 1.04% | 1.04% | 1.04%H |
| Net investment income (loss) | .64% | 1.23% | (.23)%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $853 | $318 | $131 |
| Portfolio turnover rateI | 23% | 27% | 17%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2040 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.25 | $9.54 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .02 | .07 | (.04) |
| Net realized and unrealized gain (loss) | 4.39 | (1.07) | (.18) |
| Total from investment operations | 4.41 | (1.00) | (.22) |
| Distributions from net investment income | (.09) | (.12) | (.11) |
| Distributions from net realized gain | (.43) | (.17) | (.14) |
| Total distributions | (.51)C | (.29) | (.24)C |
| Net asset value, end of period | $12.15 | $8.25 | $9.54 |
| Total ReturnD,E,F | 54.23% | (11.10)% | (1.88)% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | 1.55%I | 1.54% | 1.55%I,J |
| Expenses net of fee waivers, if any | 1.55%I | 1.54% | 1.55%I,J |
| Expenses net of all reductions | 1.55%I | 1.54% | 1.55%I,J |
| Net investment income (loss) | .14% | .73% | (.74)%J |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,451 | $357 | $208 |
| Portfolio turnover rateK | 23% | 27% | 17%J |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Total returns do not include the effect of the contingent deferred sales charge.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Annualized
K Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2040 Fund
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.29 | $9.55 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .16 | .01 |
| Net realized and unrealized gain (loss) | 4.44 | (1.06) | (.18) |
| Total from investment operations | 4.56 | (.90) | (.17) |
| Distributions from net investment income | (.14) | (.18) | (.14) |
| Distributions from net realized gain | (.44) | (.17) | (.14) |
| Total distributions | (.57)C | (.36)C | (.28) |
| Net asset value, end of period | $12.28 | $8.29 | $9.55 |
| Total ReturnD,E | 55.89% | (10.24)% | (1.35)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .54% | .55%H | .54%I |
| Expenses net of fee waivers, if any | .54% | .55%H | .54%I |
| Expenses net of all reductions | .54% | .55%H | .54%I |
| Net investment income (loss) | 1.14% | 1.72% | .27%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $33,442 | $15,147 | $590 |
| Portfolio turnover rateJ | 23% | 27% | 17%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2040 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.30 | $9.57 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .18 | .02 |
| Net realized and unrealized gain (loss) | 4.45 | (1.08) | (.17) |
| Total from investment operations | 4.58 | (.90) | (.15) |
| Distributions from net investment income | (.14) | (.19) | (.14) |
| Distributions from net realized gain | (.43) | (.17) | (.14) |
| Total distributions | (.58)C | (.37)C | (.28) |
| Net asset value, end of period | $12.30 | $8.30 | $9.57 |
| Total ReturnD,E | 55.97% | (10.22)% | (1.19)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .44% | .44% | .44%H |
| Expenses net of fee waivers, if any | .44% | .44% | .44%H |
| Expenses net of all reductions | .44% | .44% | .44%H |
| Net investment income (loss) | 1.24% | 1.83% | .37%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $19,429 | $15,212 | $99 |
| Portfolio turnover rateI | 23% | 27% | 17%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2040 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.32 | $9.57 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .19 | .02 |
| Net realized and unrealized gain (loss) | 4.45 | (1.08) | (.17) |
| Total from investment operations | 4.60 | (.89) | (.15) |
| Distributions from net investment income | (.15) | (.18) | (.14) |
| Distributions from net realized gain | (.44) | (.18) | (.14) |
| Total distributions | (.59) | (.36) | (.28) |
| Net asset value, end of period | $12.33 | $8.32 | $9.57 |
| Total ReturnC,D | 56.11% | (10.07)% | (1.14)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .34% | .34% | .35%G,H |
| Expenses net of fee waivers, if any | .34% | .34% | .35%G,H |
| Expenses net of all reductions | .34% | .34% | .35%G,H |
| Net investment income (loss) | 1.34% | 1.93% | .46%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $972,867 | $510,439 | $14,956 |
| Portfolio turnover rateI | 23% | 27% | 17%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2040 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.30 | $9.56 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .17 | .01 |
| Net realized and unrealized gain (loss) | 4.44 | (1.07) | (.18) |
| Total from investment operations | 4.56 | (.90) | (.17) |
| Distributions from net investment income | (.14) | (.19) | (.14) |
| Distributions from net realized gain | (.44) | (.17) | (.14) |
| Total distributions | (.58) | (.36) | (.27)C |
| Net asset value, end of period | $12.28 | $8.30 | $9.56 |
| Total ReturnD,E | 55.73% | (10.17)% | (1.33)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .54% | .55%H | .54%I |
| Expenses net of fee waivers, if any | .54% | .55%H | .54%I |
| Expenses net of all reductions | .54% | .55%H | .54%I |
| Net investment income (loss) | 1.14% | 1.73% | .27%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $11,759 | $4,049 | $100 |
| Portfolio turnover rateJ | 23% | 27% | 17%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2040 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.32 | $9.57 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .18 | .02 |
| Net realized and unrealized gain (loss) | 4.45 | (1.08) | (.17) |
| Total from investment operations | 4.58 | (.90) | (.15) |
| Distributions from net investment income | (.14) | (.17) | (.14) |
| Distributions from net realized gain | (.43) | (.17) | (.14) |
| Total distributions | (.57) | (.35)C | (.28) |
| Net asset value, end of period | $12.33 | $8.32 | $9.57 |
| Total ReturnD,E | 55.93% | (10.17)% | (1.19)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .44% | .44% | .44%H |
| Expenses net of fee waivers, if any | .44% | .44% | .44%H |
| Expenses net of all reductions | .44% | .44% | .44%H |
| Net investment income (loss) | 1.24% | 1.83% | .37%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $138 | $89 | $99 |
| Portfolio turnover rateI | 23% | 27% | 17%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2040 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.32 | $9.57 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .18 | .03 |
| Net realized and unrealized gain (loss) | 4.46 | (1.08) | (.18) |
| Total from investment operations | 4.61 | (.90) | (.15) |
| Distributions from net investment income | (.16) | (.18) | (.14) |
| Distributions from net realized gain | (.44) | (.17) | (.14) |
| Total distributions | (.60) | (.35) | (.28) |
| Net asset value, end of period | $12.33 | $8.32 | $9.57 |
| Total ReturnC,D | 56.23% | (10.14)% | (1.14)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .34% | .35%G | .34%H |
| Expenses net of fee waivers, if any | .34% | .35%G | .34%H |
| Expenses net of all reductions | .34% | .35%G | .34%H |
| Net investment income (loss) | 1.34% | 1.92% | .47%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $3,391 | $1,528 | $256 |
| Portfolio turnover rateI | 23% | 27% | 17%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2045 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Large Cap Value Index Fund | 14.5 |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Blue Chip Growth Fund | 11.0 |
| Fidelity Series Large Cap Stock Fund | 7.6 |
| Fidelity Series Large Cap Growth Index Fund | 6.9 |
| Fidelity Series International Growth Fund | 6.0 |
| Fidelity Series Overseas Fund | 6.0 |
| Fidelity Series International Value Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 5.3 |
| Fidelity Series Small Cap Opportunities Fund | 3.7 |
| | 81.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® Blend 2045 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 51.8% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 5,635,242 | $98,109,560 |
| Fidelity Series Commodity Strategy Fund (a) | | 5,052,088 | 24,755,229 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 3,924,892 | 61,934,791 |
| Fidelity Series Large Cap Stock Fund (a) | | 3,666,947 | 67,655,175 |
| Fidelity Series Large Cap Value Index Fund (a) | | 8,797,550 | 129,236,009 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 1,843,962 | 32,675,014 |
| Fidelity Series Value Discovery Fund (a) | | 2,999,485 | 47,751,795 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $375,586,652) | | | 462,117,573 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 1,689,591 | 21,576,071 |
| Fidelity Series Emerging Markets Fund (a) | | 1,213,587 | 14,186,827 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 4,970,394 | 127,540,316 |
| Fidelity Series International Growth Fund (a) | | 2,963,241 | 53,160,536 |
| Fidelity Series International Index Fund (a) | | 1,896,727 | 22,153,774 |
| Fidelity Series International Small Cap Fund (a) | | 917,306 | 19,006,573 |
| Fidelity Series International Value Fund (a) | | 4,888,448 | 53,039,664 |
| Fidelity Series Overseas Fund (a) | | 4,214,983 | 53,150,937 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $295,053,082) | | | 363,814,698 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 9,007 | 97,731 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 537,294 | 4,878,628 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 162,744 | 1,630,700 |
| Fidelity Series Floating Rate High Income Fund (a) | | 106,947 | 982,840 |
| Fidelity Series Government Bond Index Fund (a) | | 11,447 | 119,850 |
| Fidelity Series High Income Fund (a) | | 603,558 | 5,661,375 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 1,659,087 | 17,818,592 |
| Fidelity Series Investment Grade Bond Fund (a) | | 11,661 | 134,456 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 9,098 | 93,712 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 3,089,537 | 24,407,341 |
| Fidelity Series Real Estate Income Fund (a) | | 306,938 | 3,391,662 |
| TOTAL BOND FUNDS | | | |
| (Cost $61,576,421) | | | 59,216,887 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 2,311,226 | 2,311,226 |
| Fidelity Series Short-Term Credit Fund (a) | | 112,122 | 1,140,277 |
| Fidelity Series Treasury Bill Index Fund (a) | | 367,241 | 3,672,409 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $7,106,554) | | | 7,123,912 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $739,322,709) | | | 892,273,070 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (229,686) |
| NET ASSETS - 100% | | | $892,043,384 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $5 |
| Total | $5 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $45,398,547 | $53,609,222 | $20,643,497 | $26,009,934 | $1,908,452 | $17,836,836 | $98,109,560 |
| Fidelity Series Canada Fund | 10,877,362 | 6,313,947 | 2,365,804 | 378,380 | (118,117) | 6,868,683 | 21,576,071 |
| Fidelity Series Commodity Strategy Fund | 15,847,876 | 10,077,752 | 6,234,274 | 80,533 | (421,300) | 5,485,175 | 24,755,229 |
| Fidelity Series Corporate Bond Fund | 139,934 | 56,316 | 100,177 | 2,998 | (8,068) | 9,726 | 97,731 |
| Fidelity Series Emerging Markets Debt Fund | 3,182,890 | 1,879,467 | 601,517 | 202,355 | (9,335) | 427,123 | 4,878,628 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 1,726,498 | 75,699 | 21,003 | (430) | (19,669) | 1,630,700 |
| Fidelity Series Emerging Markets Fund | 5,633,587 | 5,010,729 | 1,245,458 | 173,775 | 51,477 | 4,736,492 | 14,186,827 |
| Fidelity Series Emerging Markets Opportunities Fund | 51,858,394 | 44,338,533 | 11,008,539 | 3,310,868 | 289,913 | 42,062,015 | 127,540,316 |
| Fidelity Series Floating Rate High Income Fund | 706,212 | 320,588 | 154,977 | 38,618 | (1,186) | 112,203 | 982,840 |
| Fidelity Series Government Bond Index Fund | 213,162 | 62,046 | 147,915 | 2,662 | (247) | (7,196) | 119,850 |
| Fidelity Series Government Money Market Fund 0.08% | 4,354,063 | 9,471,656 | 11,514,493 | 4,110 | -- | -- | 2,311,226 |
| Fidelity Series High Income Fund | 3,582,891 | 2,026,852 | 490,482 | 259,051 | (558) | 542,672 | 5,661,375 |
| Fidelity Series Inflation-Protected Bond Index Fund | 10,644,373 | 8,739,528 | 2,314,325 | 197,362 | (8,384) | 757,400 | 17,818,592 |
| Fidelity Series International Growth Fund | 31,568,620 | 23,178,550 | 9,508,506 | 6,636,902 | (1,610) | 7,923,482 | 53,160,536 |
| Fidelity Series International Index Fund | 12,407,656 | 5,769,424 | 1,847,476 | 373,811 | (11,793) | 5,835,963 | 22,153,774 |
| Fidelity Series International Small Cap Fund | 9,400,796 | 4,578,710 | 755,668 | 139,117 | 48,071 | 5,734,664 | 19,006,573 |
| Fidelity Series International Value Fund | 30,343,617 | 15,005,528 | 9,747,765 | 1,304,765 | 31,902 | 17,406,382 | 53,039,664 |
| Fidelity Series Investment Grade Bond Fund | 211,130 | 75,811 | 150,177 | 6,412 | (5,561) | 3,253 | 134,456 |
| Fidelity Series Investment Grade Securitized Fund | 146,201 | 53,062 | 103,382 | 2,282 | (51) | (2,118) | 93,712 |
| Fidelity Series Large Cap Growth Index Fund | 33,894,819 | 20,322,106 | 12,518,935 | 1,585,336 | 1,013,785 | 19,223,016 | 61,934,791 |
| Fidelity Series Large Cap Stock Fund | 35,267,491 | 21,873,811 | 11,933,800 | 3,061,078 | 282,519 | 22,165,154 | 67,655,175 |
| Fidelity Series Large Cap Value Index Fund | 65,339,354 | 40,480,362 | 17,735,644 | 2,371,839 | 414,794 | 40,737,143 | 129,236,009 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 11,941,249 | 21,975,086 | 4,249,243 | 1,880,944 | (2,825) | (5,256,926) | 24,407,341 |
| Fidelity Series Overseas Fund | 30,281,498 | 17,214,799 | 9,081,517 | 530,066 | (307,363) | 15,043,520 | 53,150,937 |
| Fidelity Series Real Estate Income Fund | 1,952,890 | 981,002 | 238,732 | 171,219 | (1,445) | 697,947 | 3,391,662 |
| Fidelity Series Short-Term Credit Fund | 1,109,555 | 460,092 | 460,687 | 26,807 | (1,384) | 32,701 | 1,140,277 |
| Fidelity Series Small Cap Opportunities Fund | 17,479,666 | 9,219,840 | 7,731,424 | 592,376 | 409,769 | 13,297,163 | 32,675,014 |
| Fidelity Series Treasury Bill Index Fund | 12,403,593 | 323,816 | 9,007,439 | 54,216 | (21,418) | (26,143) | 3,672,409 |
| Fidelity Series Value Discovery Fund | 20,499,714 | 17,657,791 | 6,287,289 | 906,079 | 131,580 | 15,749,999 | 47,751,795 |
| | $466,687,140 | $342,802,924 | $158,254,841 | $50,324,898 | $3,661,187 | $237,376,660 | $892,273,070 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $462,117,573 | $462,117,573 | $-- | $-- |
| International Equity Funds | 363,814,698 | 363,814,698 | -- | -- |
| Bond Funds | 59,216,887 | 59,216,887 | -- | -- |
| Short-Term Funds | 7,123,912 | 7,123,912 | -- | -- |
| Total Investments in Securities: | $892,273,070 | $892,273,070 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2045 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $739,322,709) | $892,273,070 | |
| Total Investment in Securities (cost $739,322,709) | | $892,273,070 |
| Cash | | 252 |
| Receivable for investments sold | | 7,034,068 |
| Receivable for fund shares sold | | 1,393,683 |
| Total assets | | 900,701,073 |
| Liabilities | | |
| Payable for investments purchased | $8,245,280 | |
| Payable for fund shares redeemed | 158,713 | |
| Accrued management fee | 251,611 | |
| Distribution and service plan fees payable | 2,085 | |
| Total liabilities | | 8,657,689 |
| Net Assets | | $892,043,384 |
| Net Assets consist of: | | |
| Paid in capital | | $721,085,261 |
| Total accumulated earnings (loss) | | 170,958,123 |
| Net Assets | | $892,043,384 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($1,963,337 ÷ 160,115 shares)(a) | | $12.26 |
| Maximum offering price per share (100/94.25 of $12.26) | | $13.01 |
| Class M: | | |
| Net Asset Value and redemption price per share ($1,787,413 ÷ 146,113 shares)(a) | | $12.23 |
| Maximum offering price per share (100/96.50 of $12.23) | | $12.67 |
| Class C: | | |
| Net Asset Value and offering price per share ($1,150,885 ÷ 94,667 shares)(a) | | $12.16 |
| Fidelity Freedom Blend 2045 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($23,283,482 ÷ 1,894,764 shares) | | $12.29 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($20,124,935 ÷ 1,636,434 shares) | | $12.30 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($828,827,294 ÷ 67,219,583 shares) | | $12.33 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($10,353,675 ÷ 843,241 shares) | | $12.28 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($329,013 ÷ 26,686 shares) | | $12.33 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($4,223,350 ÷ 342,882 shares) | | $12.32 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $11,675,016 |
| Income from Fidelity Central Funds | | 5 |
| Total income | | 11,675,021 |
| Expenses | | |
| Management fee | $2,432,805 | |
| Distribution and service plan fees | 18,595 | |
| Independent trustees' fees and expenses | 1,902 | |
| Total expenses before reductions | 2,453,302 | |
| Expense reductions | (1) | |
| Total expenses after reductions | | 2,453,301 |
| Net investment income (loss) | | 9,221,720 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 3,661,187 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 38,649,882 | |
| Total net realized gain (loss) | | 42,311,069 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 237,376,660 | |
| Total change in net unrealized appreciation (depreciation) | | 237,376,660 |
| Net gain (loss) | | 279,687,729 |
| Net increase (decrease) in net assets resulting from operations | | $288,909,449 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $9,221,720 | $8,616,466 |
| Net realized gain (loss) | 42,311,069 | 12,039,211 |
| Change in net unrealized appreciation (depreciation) | 237,376,660 | (84,989,975) |
| Net increase (decrease) in net assets resulting from operations | 288,909,449 | (64,334,298) |
| Distributions to shareholders | (37,152,164) | (17,037,978) |
| Share transactions - net increase (decrease) | 173,605,835 | 538,033,978 |
| Total increase (decrease) in net assets | 425,363,120 | 456,661,702 |
| Net Assets | | |
| Beginning of period | 466,680,264 | 10,018,562 |
| End of period | $892,043,384 | $466,680,264 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Blend 2045 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.29 | $9.55 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .10 | .15 | .03 |
| Net realized and unrealized gain (loss) | 4.42 | (1.07) | (.22) |
| Total from investment operations | 4.52 | (.92) | (.19) |
| Distributions from net investment income | (.12) | (.17) | (.15) |
| Distributions from net realized gain | (.43) | (.17) | (.11) |
| Total distributions | (.55) | (.34) | (.26) |
| Net asset value, end of period | $12.26 | $8.29 | $9.55 |
| Total ReturnC,D | 55.30% | (10.38)% | (1.56)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .79% | .79% | .79%G |
| Expenses net of fee waivers, if any | .79% | .79% | .79%G |
| Expenses net of all reductions | .79% | .79% | .79%G |
| Net investment income (loss) | .89% | 1.49% | .64%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,963 | $835 | $253 |
| Portfolio turnover rateH | 23% | 27% | 19%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2045 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.27 | $9.54 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .07 | .12 | .02 |
| Net realized and unrealized gain (loss) | 4.42 | (1.08) | (.22) |
| Total from investment operations | 4.49 | (.96) | (.20) |
| Distributions from net investment income | (.10) | (.14) | (.15) |
| Distributions from net realized gain | (.43) | (.17) | (.11) |
| Total distributions | (.53) | (.31) | (.26) |
| Net asset value, end of period | $12.23 | $8.27 | $9.54 |
| Total ReturnC,D,E | 55.04% | (10.71)% | (1.68)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | 1.04% | 1.05%H | 1.04%I |
| Expenses net of fee waivers, if any | 1.04% | 1.05%H | 1.04%I |
| Expenses net of all reductions | 1.04% | 1.05%H | 1.04%I |
| Net investment income (loss) | .64% | 1.23% | .39%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,787 | $1,120 | $160 |
| Portfolio turnover rateJ | 23% | 27% | 19%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2045 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.26 | $9.54 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .02 | .07 | (.01) |
| Net realized and unrealized gain (loss) | 4.40 | (1.08) | (.21) |
| Total from investment operations | 4.42 | (1.01) | (.22) |
| Distributions from net investment income | (.09) | (.10) | (.13) |
| Distributions from net realized gain | (.42) | (.17) | (.11) |
| Total distributions | (.52)C | (.27) | (.24) |
| Net asset value, end of period | $12.16 | $8.26 | $9.54 |
| Total ReturnD,E | 54.21% | (11.14)% | (1.91)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | 1.54% | 1.54% | 1.55%H,I |
| Expenses net of fee waivers, if any | 1.54% | 1.54% | 1.55%H,I |
| Expenses net of all reductions | 1.54% | 1.54% | 1.55%H,I |
| Net investment income (loss) | .14% | .74% | (.12)%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,151 | $261 | $157 |
| Portfolio turnover rateJ | 23% | 27% | 19%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns do not include the effect of the contingent deferred sales charge.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2045 Fund
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.30 | $9.56 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .16 | .05 |
| Net realized and unrealized gain (loss) | 4.44 | (1.07) | (.22) |
| Total from investment operations | 4.56 | (.91) | (.17) |
| Distributions from net investment income | (.14) | (.18) | (.16) |
| Distributions from net realized gain | (.44) | (.17) | (.11) |
| Total distributions | (.57)C | (.35) | (.27) |
| Net asset value, end of period | $12.29 | $8.30 | $9.56 |
| Total ReturnD | 55.82% | (10.29)% | (1.31)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .54% | .56%G | .55%G,H |
| Expenses net of fee waivers, if any | .54% | .56%G | .55%G,H |
| Expenses net of all reductions | .54% | .56%G | .55%G,H |
| Net investment income (loss) | 1.14% | 1.72% | .88%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $23,283 | $10,682 | $748 |
| Portfolio turnover rateI | 23% | 27% | 19%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2045 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.30 | $9.56 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .18 | .05 |
| Net realized and unrealized gain (loss) | 4.45 | (1.07) | (.22) |
| Total from investment operations | 4.58 | (.89) | (.17) |
| Distributions from net investment income | (.15) | (.19) | (.16) |
| Distributions from net realized gain | (.43) | (.17) | (.11) |
| Total distributions | (.58) | (.37)C | (.27) |
| Net asset value, end of period | $12.30 | $8.30 | $9.56 |
| Total ReturnD | 56.03% | (10.14)% | (1.35)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .44% | .44% | .44%G |
| Expenses net of fee waivers, if any | .44% | .44% | .44%G |
| Expenses net of all reductions | .44% | .44% | .44%G |
| Net investment income (loss) | 1.24% | 1.84% | .99%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $20,125 | $13,473 | $99 |
| Portfolio turnover rateH | 23% | 27% | 19%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2045 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.32 | $9.57 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .19 | .06 |
| Net realized and unrealized gain (loss) | 4.45 | (1.08) | (.22) |
| Total from investment operations | 4.60 | (.89) | (.16) |
| Distributions from net investment income | (.15) | (.18) | (.16) |
| Distributions from net realized gain | (.44) | (.17) | (.11) |
| Total distributions | (.59) | (.36)C | (.27) |
| Net asset value, end of period | $12.33 | $8.32 | $9.57 |
| Total ReturnD | 56.12% | (10.10)% | (1.21)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .34% | .34% | .35%G,H |
| Expenses net of fee waivers, if any | .34% | .34% | .35%G,H |
| Expenses net of all reductions | .34% | .34% | .35%G,H |
| Net investment income (loss) | 1.34% | 1.94% | 1.08%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $828,827 | $435,714 | $8,306 |
| Portfolio turnover rateI | 23% | 27% | 19%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2045 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.30 | $9.56 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .17 | .05 |
| Net realized and unrealized gain (loss) | 4.44 | (1.07) | (.22) |
| Total from investment operations | 4.56 | (.90) | (.17) |
| Distributions from net investment income | (.14) | (.19) | (.16) |
| Distributions from net realized gain | (.44) | (.17) | (.11) |
| Total distributions | (.58) | (.36) | (.27) |
| Net asset value, end of period | $12.28 | $8.30 | $9.56 |
| Total ReturnC | 55.74% | (10.18)% | (1.38)% |
| Ratios to Average Net AssetsD,E | | | |
| Expenses before reductions | .54% | .55%F | .54%G |
| Expenses net of fee waivers, if any | .54% | .55%F | .54%G |
| Expenses net of all reductions | .54% | .55%F | .54%G |
| Net investment income (loss) | 1.14% | 1.74% | .89%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $10,354 | $3,395 | $99 |
| Portfolio turnover rateH | 23% | 27% | 19%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2045 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.32 | $9.56 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .18 | .05 |
| Net realized and unrealized gain (loss) | 4.46 | (1.08) | (.22) |
| Total from investment operations | 4.59 | (.90) | (.17) |
| Distributions from net investment income | (.14) | (.17) | (.16) |
| Distributions from net realized gain | (.43) | (.17) | (.11) |
| Total distributions | (.58)C | (.34) | (.27) |
| Net asset value, end of period | $12.33 | $8.32 | $9.56 |
| Total ReturnD | 55.96% | (10.10)% | (1.35)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .44% | .44% | .44%G |
| Expenses net of fee waivers, if any | .44% | .44% | .44%G |
| Expenses net of all reductions | .44% | .44% | .44%G |
| Net investment income (loss) | 1.24% | 1.84% | .99%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $329 | $92 | $99 |
| Portfolio turnover rateH | 23% | 27% | 19%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2045 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.32 | $9.57 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .18 | .06 |
| Net realized and unrealized gain (loss) | 4.45 | (1.07) | (.22) |
| Total from investment operations | 4.60 | (.89) | (.16) |
| Distributions from net investment income | (.16) | (.19) | (.16) |
| Distributions from net realized gain | (.44) | (.17) | (.11) |
| Total distributions | (.60) | (.36) | (.27) |
| Net asset value, end of period | $12.32 | $8.32 | $9.57 |
| Total ReturnC | 56.16% | (10.10)% | (1.21)% |
| Ratios to Average Net AssetsD,E | | | |
| Expenses before reductions | .34% | .35%F | .34%G |
| Expenses net of fee waivers, if any | .34% | .35%F | .34%G |
| Expenses net of all reductions | .34% | .35%F | .34%G |
| Net investment income (loss) | 1.34% | 1.94% | 1.09%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $4,223 | $1,108 | $99 |
| Portfolio turnover rateH | 23% | 27% | 19%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2050 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Large Cap Value Index Fund | 14.5 |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Blue Chip Growth Fund | 11.0 |
| Fidelity Series Large Cap Stock Fund | 7.6 |
| Fidelity Series Large Cap Growth Index Fund | 6.9 |
| Fidelity Series International Growth Fund | 6.0 |
| Fidelity Series Overseas Fund | 6.0 |
| Fidelity Series International Value Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 5.3 |
| Fidelity Series Small Cap Opportunities Fund | 3.7 |
| | 81.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® Blend 2050 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 51.8% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 4,647,579 | $80,914,353 |
| Fidelity Series Commodity Strategy Fund (a) | | 4,166,635 | 20,416,512 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 3,236,998 | 51,079,832 |
| Fidelity Series Large Cap Stock Fund (a) | | 3,024,270 | 55,797,787 |
| Fidelity Series Large Cap Value Index Fund (a) | | 7,255,675 | 106,585,865 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 1,520,781 | 26,948,239 |
| Fidelity Series Value Discovery Fund (a) | | 2,473,789 | 39,382,723 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $309,042,672) | | | 381,125,311 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 1,393,467 | 17,794,580 |
| Fidelity Series Emerging Markets Fund (a) | | 1,000,890 | 11,700,406 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 4,099,271 | 105,187,298 |
| Fidelity Series International Growth Fund (a) | | 2,443,877 | 43,843,148 |
| Fidelity Series International Index Fund (a) | | 1,564,302 | 18,271,049 |
| Fidelity Series International Small Cap Fund (a) | | 756,521 | 15,675,110 |
| Fidelity Series International Value Fund (a) | | 4,031,742 | 43,744,401 |
| Fidelity Series Overseas Fund (a) | | 3,476,252 | 43,835,536 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $243,588,556) | | | 300,051,528 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 7,429 | 80,602 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 443,130 | 4,023,620 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 134,221 | 1,344,896 |
| Fidelity Series Floating Rate High Income Fund (a) | | 88,204 | 810,590 |
| Fidelity Series Government Bond Index Fund (a) | | 9,443 | 98,867 |
| Fidelity Series High Income Fund (a) | | 497,780 | 4,669,173 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 1,368,311 | 14,695,662 |
| Fidelity Series Investment Grade Bond Fund (a) | | 9,616 | 110,871 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 7,504 | 77,287 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 2,548,069 | 20,129,746 |
| Fidelity Series Real Estate Income Fund (a) | | 253,143 | 2,797,229 |
| TOTAL BOND FUNDS | | | |
| (Cost $50,831,200) | | | 48,838,543 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Cash Central Fund 0.06% (b) | | 49 | 49 |
| Fidelity Series Government Money Market Fund 0.08% (a)(c) | | 1,906,155 | 1,906,155 |
| Fidelity Series Short-Term Credit Fund (a) | | 92,471 | 940,434 |
| Fidelity Series Treasury Bill Index Fund (a) | | 302,877 | 3,028,772 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $5,863,115) | | | 5,875,410 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $609,325,543) | | | 735,890,792 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (207,895) |
| NET ASSETS - 100% | | | $735,682,897 |
Legend
(a) Affiliated Fund
(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
(c) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $35,853,859 | $44,851,449 | $15,538,578 | $21,137,639 | $1,387,286 | $14,360,337 | $80,914,353 |
| Fidelity Series Canada Fund | 8,592,715 | 5,374,579 | 1,648,710 | 309,510 | (84,236) | 5,560,232 | 17,794,580 |
| Fidelity Series Commodity Strategy Fund | 12,516,653 | 8,573,245 | 4,792,897 | 65,128 | (293,897) | 4,413,408 | 20,416,512 |
| Fidelity Series Corporate Bond Fund | 109,969 | 47,326 | 77,918 | 2,433 | (6,311) | 7,536 | 80,602 |
| Fidelity Series Emerging Markets Debt Fund | 2,504,000 | 1,628,027 | 438,986 | 163,623 | (7,912) | 338,491 | 4,023,620 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 1,410,227 | 47,783 | 17,259 | (548) | (17,000) | 1,344,896 |
| Fidelity Series Emerging Markets Fund | 4,450,181 | 4,276,045 | 896,353 | 142,169 | 25,828 | 3,844,705 | 11,700,406 |
| Fidelity Series Emerging Markets Opportunities Fund | 40,965,399 | 37,701,680 | 7,690,143 | 2,708,680 | 171,530 | 34,038,832 | 105,187,298 |
| Fidelity Series Floating Rate High Income Fund | 558,973 | 277,214 | 115,197 | 31,391 | (894) | 90,494 | 810,590 |
| Fidelity Series Government Bond Index Fund | 167,351 | 52,725 | 115,101 | 2,157 | (187) | (5,921) | 98,867 |
| Fidelity Series Government Money Market Fund 0.08% | 3,379,025 | 7,840,034 | 9,312,904 | 3,382 | -- | -- | 1,906,155 |
| Fidelity Series High Income Fund | 2,829,486 | 1,747,102 | 342,746 | 210,419 | (221) | 435,552 | 4,669,173 |
| Fidelity Series Inflation-Protected Bond Index Fund | 8,398,507 | 7,358,047 | 1,661,723 | 161,340 | (12,683) | 613,514 | 14,695,662 |
| Fidelity Series International Growth Fund | 24,938,580 | 19,561,298 | 6,968,805 | 5,431,219 | (39,184) | 6,351,259 | 43,843,148 |
| Fidelity Series International Index Fund | 9,816,743 | 4,969,827 | 1,227,866 | 305,844 | (9,892) | 4,722,237 | 18,271,049 |
| Fidelity Series International Small Cap Fund | 7,433,165 | 4,037,167 | 464,715 | 113,795 | 39,869 | 4,629,624 | 15,675,110 |
| Fidelity Series International Value Fund | 23,967,588 | 12,984,007 | 7,337,022 | 1,067,630 | 82,358 | 14,047,470 | 43,744,401 |
| Fidelity Series Investment Grade Bond Fund | 166,004 | 63,527 | 116,694 | 5,205 | (4,357) | 2,391 | 110,871 |
| Fidelity Series Investment Grade Securitized Fund | 114,859 | 44,602 | 80,392 | 1,851 | (40) | (1,742) | 77,287 |
| Fidelity Series Large Cap Growth Index Fund | 26,770,691 | 17,435,543 | 9,404,844 | 1,285,948 | 664,797 | 15,613,645 | 51,079,832 |
| Fidelity Series Large Cap Stock Fund | 27,851,364 | 18,843,138 | 9,125,429 | 2,485,792 | 194,674 | 18,034,040 | 55,797,787 |
| Fidelity Series Large Cap Value Index Fund | 51,603,703 | 34,835,846 | 13,266,376 | 1,941,762 | 299,426 | 33,113,266 | 106,585,865 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 9,437,840 | 18,255,738 | 3,264,359 | 1,521,386 | (46,955) | (4,252,518) | 20,129,746 |
| Fidelity Series Overseas Fund | 23,880,282 | 14,768,686 | 6,701,420 | 433,751 | (248,778) | 12,136,766 | 43,835,536 |
| Fidelity Series Real Estate Income Fund | 1,542,372 | 850,567 | 159,639 | 139,692 | (82) | 564,011 | 2,797,229 |
| Fidelity Series Short-Term Credit Fund | 948,082 | 347,355 | 381,889 | 22,853 | (1,189) | 28,075 | 940,434 |
| Fidelity Series Small Cap Opportunities Fund | 13,805,646 | 8,063,625 | 6,030,439 | 483,240 | 226,995 | 10,882,412 | 26,948,239 |
| Fidelity Series Treasury Bill Index Fund | 9,784,765 | 294,397 | 7,012,767 | 42,948 | (17,571) | (20,052) | 3,028,772 |
| Fidelity Series Value Discovery Fund | 16,190,967 | 15,019,866 | 4,726,869 | 741,818 | 90,236 | 12,808,523 | 39,382,723 |
| | $368,578,769 | $291,512,889 | $118,948,564 | $40,979,864 | $2,408,062 | $192,339,587 | $735,890,743 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $381,125,311 | $381,125,311 | $-- | $-- |
| International Equity Funds | 300,051,528 | 300,051,528 | -- | -- |
| Bond Funds | 48,838,543 | 48,838,543 | -- | -- |
| Short-Term Funds | 5,875,410 | 5,875,410 | -- | -- |
| Total Investments in Securities: | $735,890,792 | $735,890,792 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2050 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Fidelity Central Funds (cost $49) | $49 | |
| Other affiliated issuers (cost $609,325,494) | 735,890,743 | |
| Total Investment in Securities (cost $609,325,543) | | $735,890,792 |
| Cash | | 188 |
| Receivable for investments sold | | 5,750,464 |
| Receivable for fund shares sold | | 1,393,481 |
| Total assets | | 743,034,925 |
| Liabilities | | |
| Payable for investments purchased | $6,914,168 | |
| Payable for fund shares redeemed | 227,803 | |
| Accrued management fee | 208,597 | |
| Distribution and service plan fees payable | 1,460 | |
| Total liabilities | | 7,352,028 |
| Net Assets | | $735,682,897 |
| Net Assets consist of: | | |
| Paid in capital | | $594,762,472 |
| Total accumulated earnings (loss) | | 140,920,425 |
| Net Assets | | $735,682,897 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($2,103,296 ÷ 171,906 shares)(a) | | $12.24 |
| Maximum offering price per share (100/94.25 of $12.24) | | $12.99 |
| Class M: | | |
| Net Asset Value and redemption price per share ($686,436 ÷ 56,255 shares)(a) | | $12.20 |
| Maximum offering price per share (100/96.50 of $12.20) | | $12.64 |
| Class C: | | |
| Net Asset Value and offering price per share ($977,634 ÷ 80,643 shares)(a) | | $12.12 |
| Fidelity Freedom Blend 2050 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($27,447,609 ÷ 2,241,202 shares) | | $12.25 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($11,248,233 ÷ 916,994 shares) | | $12.27 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($681,407,889 ÷ 55,423,058 shares) | | $12.29 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($7,177,152 ÷ 585,881 shares) | | $12.25 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($138,256 ÷ 11,243 shares) | | $12.30 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($4,496,392 ÷ 365,896 shares) | | $12.29 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $9,534,408 |
| Expenses | | |
| Management fee | $1,978,733 | |
| Distribution and service plan fees | 13,247 | |
| Independent trustees' fees and expenses | 1,535 | |
| Total expenses before reductions | 1,993,515 | |
| Expense reductions | (5) | |
| Total expenses after reductions | | 1,993,510 |
| Net investment income (loss) | | 7,540,898 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 2,408,062 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 31,445,456 | |
| Total net realized gain (loss) | | 33,853,518 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 192,339,587 | |
| Total change in net unrealized appreciation (depreciation) | | 192,339,587 |
| Net gain (loss) | | 226,193,105 |
| Net increase (decrease) in net assets resulting from operations | | $233,734,003 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $7,540,898 | $6,431,323 |
| Net realized gain (loss) | 33,853,518 | 8,604,244 |
| Change in net unrealized appreciation (depreciation) | 192,339,587 | (66,297,105) |
| Net increase (decrease) in net assets resulting from operations | 233,734,003 | (51,261,538) |
| Distributions to shareholders | (29,570,711) | (12,506,845) |
| Share transactions - net increase (decrease) | 162,933,188 | 423,536,446 |
| Total increase (decrease) in net assets | 367,096,480 | 359,768,063 |
| Net Assets | | |
| Beginning of period | 368,586,417 | 8,818,354 |
| End of period | $735,682,897 | $368,586,417 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Blend 2050 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.26 | $9.51 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .10 | .15 | .02 |
| Net realized and unrealized gain (loss) | 4.42 | (1.08) | (.21) |
| Total from investment operations | 4.52 | (.93) | (.19) |
| Distributions from net investment income | (.12) | (.16) | (.14) |
| Distributions from net realized gain | (.41) | (.16) | (.16) |
| Total distributions | (.54)C | (.32) | (.30) |
| Net asset value, end of period | $12.24 | $8.26 | $9.51 |
| Total ReturnD,E | 55.43% | (10.48)% | (1.50)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .79% | .79% | .79%H |
| Expenses net of fee waivers, if any | .79% | .79% | .79%H |
| Expenses net of all reductions | .79% | .79% | .79%H |
| Net investment income (loss) | .90% | 1.51% | .31%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $2,103 | $644 | $239 |
| Portfolio turnover rateI | 21% | 26% | 12%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2050 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.24 | $9.51 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .07 | .12 | –C |
| Net realized and unrealized gain (loss) | 4.40 | (1.08) | (.20) |
| Total from investment operations | 4.47 | (.96) | (.20) |
| Distributions from net investment income | (.10) | (.14) | (.13) |
| Distributions from net realized gain | (.41) | (.16) | (.16) |
| Total distributions | (.51) | (.31)D | (.29) |
| Net asset value, end of period | $12.20 | $8.24 | $9.51 |
| Total ReturnE,F | 55.03% | (10.80)% | (1.60)% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | 1.04% | 1.04% | 1.04%I |
| Expenses net of fee waivers, if any | 1.04% | 1.04% | 1.04%I |
| Expenses net of all reductions | 1.04% | 1.04% | 1.04%I |
| Net investment income (loss) | .65% | 1.26% | .07%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $686 | $298 | $99 |
| Portfolio turnover rateJ | 21% | 26% | 12%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Total returns do not include the effect of the sales charges.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2050 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.21 | $9.50 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .02 | .07 | (.02) |
| Net realized and unrealized gain (loss) | 4.37 | (1.08) | (.20) |
| Total from investment operations | 4.39 | (1.01) | (.22) |
| Distributions from net investment income | (.07) | (.12) | (.12) |
| Distributions from net realized gain | (.41) | (.16) | (.16) |
| Total distributions | (.48) | (.28) | (.28) |
| Net asset value, end of period | $12.12 | $8.21 | $9.50 |
| Total ReturnC,D,E | 54.21% | (11.22)% | (1.89)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | 1.54% | 1.54% | 1.54%H |
| Expenses net of fee waivers, if any | 1.54% | 1.54% | 1.54%H |
| Expenses net of all reductions | 1.54% | 1.54%�� | 1.54%H |
| Net investment income (loss) | .15% | .76% | (.43)%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $978 | $449 | $137 |
| Portfolio turnover rateI | 21% | 26% | 12%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Total returns do not include the effect of the contingent deferred sales charge.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2050 Fund
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.26 | $9.51 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .16 | .03 |
| Net realized and unrealized gain (loss) | 4.42 | (1.07) | (.21) |
| Total from investment operations | 4.55 | (.91) | (.18) |
| Distributions from net investment income | (.14) | (.18) | (.15) |
| Distributions from net realized gain | (.42) | (.16) | (.16) |
| Total distributions | (.56) | (.34) | (.31) |
| Net asset value, end of period | $12.25 | $8.26 | $9.51 |
| Total ReturnC | 55.91% | (10.29)% | (1.39)% |
| Ratios to Average Net AssetsD,E | | | |
| Expenses before reductions | .54% | .56%F | .54%G |
| Expenses net of fee waivers, if any | .54% | .56%F | .54%G |
| Expenses net of all reductions | .54% | .56%F | .54%G |
| Net investment income (loss) | 1.15% | 1.75% | .57%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $27,448 | $9,530 | $466 |
| Portfolio turnover rateH | 21% | 26% | 12%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2050 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.27 | $9.52 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .19 | .04 |
| Net realized and unrealized gain (loss) | 4.43 | (1.09) | (.21) |
| Total from investment operations | 4.56 | (.90) | (.17) |
| Distributions from net investment income | (.14) | (.19) | (.15) |
| Distributions from net realized gain | (.42) | (.16) | (.16) |
| Total distributions | (.56) | (.35) | (.31) |
| Net asset value, end of period | $12.27 | $8.27 | $9.52 |
| Total ReturnC | 55.95% | (10.17)% | (1.28)% |
| Ratios to Average Net AssetsD,E | | | |
| Expenses before reductions | .44% | .44% | .44%F |
| Expenses net of fee waivers, if any | .44% | .44% | .44%F |
| Expenses net of all reductions | .44% | .44% | .44%F |
| Net investment income (loss) | 1.25% | 1.86% | .67%F |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $11,248 | $8,346 | $99 |
| Portfolio turnover rateG | 21% | 26% | 12%F |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2050 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.28 | $9.52 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .19 | .04 |
| Net realized and unrealized gain (loss) | 4.43 | (1.08) | (.20) |
| Total from investment operations | 4.58 | (.89) | (.16) |
| Distributions from net investment income | (.15) | (.18) | (.16) |
| Distributions from net realized gain | (.42) | (.17) | (.16) |
| Total distributions | (.57) | (.35) | (.32) |
| Net asset value, end of period | $12.29 | $8.28 | $9.52 |
| Total ReturnC | 56.13% | (10.13)% | (1.25)% |
| Ratios to Average Net AssetsD,E | | | |
| Expenses before reductions | .34% | .34% | .35%F,G |
| Expenses net of fee waivers, if any | .34% | .34% | .35%F,G |
| Expenses net of all reductions | .34% | .34% | .35%F,G |
| Net investment income (loss) | 1.35% | 1.96% | .76%F |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $681,408 | $344,082 | $7,480 |
| Portfolio turnover rateH | 21% | 26% | 12%F |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2050 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.26 | $9.52 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .12 | .17 | .03 |
| Net realized and unrealized gain (loss) | 4.42 | (1.08) | (.20) |
| Total from investment operations | 4.54 | (.91) | (.17) |
| Distributions from net investment income | (.14) | (.19) | (.15) |
| Distributions from net realized gain | (.42) | (.16) | (.16) |
| Total distributions | (.55)C | (.35) | (.31) |
| Net asset value, end of period | $12.25 | $8.26 | $9.52 |
| Total ReturnD | 55.81% | (10.32)% | (1.32)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .54% | .54% | .54%G |
| Expenses net of fee waivers, if any | .54% | .54% | .54%G |
| Expenses net of all reductions | .54% | .54% | .54%G |
| Net investment income (loss) | 1.15% | 1.76% | .57%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $7,177 | $3,181 | $101 |
| Portfolio turnover rateH | 21% | 26% | 12%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2050 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.28 | $9.52 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .18 | .04 |
| Net realized and unrealized gain (loss) | 4.45 | (1.09) | (.21) |
| Total from investment operations | 4.58 | (.91) | (.17) |
| Distributions from net investment income | (.14) | (.17) | (.15) |
| Distributions from net realized gain | (.42) | (.16) | (.16) |
| Total distributions | (.56) | (.33) | (.31) |
| Net asset value, end of period | $12.30 | $8.28 | $9.52 |
| Total ReturnC | 56.08% | (10.24)% | (1.28)% |
| Ratios to Average Net AssetsD,E | | | |
| Expenses before reductions | .44% | .44% | .44%F |
| Expenses net of fee waivers, if any | .44% | .44% | .44%F |
| Expenses net of all reductions | .44% | .44% | .44%F |
| Net investment income (loss) | 1.25% | 1.86% | .67%F |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $138 | $89 | $99 |
| Portfolio turnover rateG | 21% | 26% | 12%F |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2050 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.28 | $9.52 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .18 | .04 |
| Net realized and unrealized gain (loss) | 4.44 | (1.08) | (.20) |
| Total from investment operations | 4.59 | (.90) | (.16) |
| Distributions from net investment income | (.15) | (.18) | (.16) |
| Distributions from net realized gain | (.42) | (.16) | (.16) |
| Total distributions | (.58)C | (.34) | (.32) |
| Net asset value, end of period | $12.29 | $8.28 | $9.52 |
| Total ReturnD | 56.23% | (10.15)% | (1.25)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .34% | .35%G | .34%H |
| Expenses net of fee waivers, if any | .34% | .35%G | .34%H |
| Expenses net of all reductions | .34% | .35%G | .34%H |
| Net investment income (loss) | 1.35% | 1.95% | .77%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $4,496 | $1,968 | $99 |
| Portfolio turnover rateI | 21% | 26% | 12%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2055 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Large Cap Value Index Fund | 14.5 |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Blue Chip Growth Fund | 11.0 |
| Fidelity Series Large Cap Stock Fund | 7.6 |
| Fidelity Series Large Cap Growth Index Fund | 6.9 |
| Fidelity Series International Growth Fund | 6.0 |
| Fidelity Series Overseas Fund | 6.0 |
| Fidelity Series International Value Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 5.3 |
| Fidelity Series Small Cap Opportunities Fund | 3.7 |
| | 81.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® Blend 2055 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 51.8% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 2,474,413 | $43,079,529 |
| Fidelity Series Commodity Strategy Fund (a) | | 2,218,352 | 10,869,923 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 1,723,419 | 27,195,548 |
| Fidelity Series Large Cap Stock Fund (a) | | 1,610,172 | 29,707,678 |
| Fidelity Series Large Cap Value Index Fund (a) | | 3,863,047 | 56,748,156 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 809,678 | 14,347,497 |
| Fidelity Series Value Discovery Fund (a) | | 1,317,088 | 20,968,043 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $163,874,161) | | | 202,916,374 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 741,902 | 9,474,093 |
| Fidelity Series Emerging Markets Fund (a) | | 532,891 | 6,229,493 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 2,182,529 | 56,003,704 |
| Fidelity Series International Growth Fund (a) | | 1,301,160 | 23,342,808 |
| Fidelity Series International Index Fund (a) | | 832,856 | 9,727,759 |
| Fidelity Series International Small Cap Fund (a) | | 402,789 | 8,345,784 |
| Fidelity Series International Value Fund (a) | | 2,146,509 | 23,289,627 |
| Fidelity Series Overseas Fund (a) | | 1,850,796 | 23,338,543 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $129,615,787) | | | 159,751,811 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 3,955 | 42,911 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 235,936 | 2,142,296 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 71,460 | 716,032 |
| Fidelity Series Floating Rate High Income Fund (a) | | 46,962 | 431,579 |
| Fidelity Series Government Bond Index Fund (a) | | 5,033 | 52,700 |
| Fidelity Series High Income Fund (a) | | 265,030 | 2,485,978 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 728,510 | 7,824,193 |
| Fidelity Series Investment Grade Bond Fund (a) | | 5,115 | 58,973 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 3,995 | 41,147 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 1,356,651 | 10,717,545 |
| Fidelity Series Real Estate Income Fund (a) | | 134,777 | 1,489,282 |
| TOTAL BOND FUNDS | | | |
| (Cost $27,132,423) | | | 26,002,636 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 1,014,869 | 1,014,869 |
| Fidelity Series Short-Term Credit Fund (a) | | 49,235 | 500,716 |
| Fidelity Series Treasury Bill Index Fund (a) | | 161,256 | 1,612,557 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $3,123,619) | | | 3,128,142 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $323,745,990) | | | 391,798,963 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (111,349) |
| NET ASSETS - 100% | | | $391,687,614 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $17,629,639 | $25,707,552 | $8,211,285 | $11,106,735 | $617,918 | $7,335,705 | $43,079,529 |
| Fidelity Series Canada Fund | 4,240,298 | 3,237,925 | 864,817 | 164,249 | (39,528) | 2,900,215 | 9,474,093 |
| Fidelity Series Commodity Strategy Fund | 6,154,116 | 4,996,752 | 2,438,573 | 34,018 | (101,111) | 2,258,739 | 10,869,923 |
| Fidelity Series Corporate Bond Fund | 53,784 | 26,758 | 38,174 | 1,274 | (3,070) | 3,613 | 42,911 |
| Fidelity Series Emerging Markets Debt Fund | 1,218,132 | 993,503 | 234,511 | 84,774 | (4,093) | 169,265 | 2,142,296 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 754,109 | 28,606 | 9,178 | (288) | (9,183) | 716,032 |
| Fidelity Series Emerging Markets Fund | 2,188,485 | 2,511,724 | 480,021 | 75,457 | 17,550 | 1,991,755 | 6,229,493 |
| Fidelity Series Emerging Markets Opportunities Fund | 20,148,369 | 22,318,823 | 4,202,616 | 1,437,547 | 82,962 | 17,656,166 | 56,003,704 |
| Fidelity Series Floating Rate High Income Fund | 276,620 | 175,599 | 67,064 | 16,452 | (577) | 47,001 | 431,579 |
| Fidelity Series Government Bond Index Fund | 81,727 | 30,309 | 56,093 | 1,127 | (88) | (3,155) | 52,700 |
| Fidelity Series Government Money Market Fund 0.08% | 1,593,579 | 4,441,119 | 5,019,829 | 1,802 | -- | -- | 1,014,869 |
| Fidelity Series High Income Fund | 1,391,175 | 1,057,448 | 185,619 | 110,070 | (12) | 222,986 | 2,485,978 |
| Fidelity Series Inflation-Protected Bond Index Fund | 4,124,271 | 4,218,412 | 826,259 | 85,386 | (5,291) | 313,060 | 7,824,193 |
| Fidelity Series International Growth Fund | 12,262,644 | 11,435,976 | 3,538,631 | 2,882,743 | (16,617) | 3,199,436 | 23,342,808 |
| Fidelity Series International Index Fund | 4,826,634 | 3,111,960 | 660,703 | 162,308 | 2,219 | 2,447,649 | 9,727,759 |
| Fidelity Series International Small Cap Fund | 3,637,021 | 2,557,857 | 266,481 | 60,395 | 20,548 | 2,396,839 | 8,345,784 |
| Fidelity Series International Value Fund | 11,761,177 | 7,950,186 | 3,791,822 | 566,629 | 77,156 | 7,292,930 | 23,289,627 |
| Fidelity Series Investment Grade Bond Fund | 81,226 | 36,321 | 57,467 | 2,731 | (2,139) | 1,032 | 58,973 |
| Fidelity Series Investment Grade Securitized Fund | 56,141 | 25,307 | 39,349 | 969 | (20) | (932) | 41,147 |
| Fidelity Series Large Cap Growth Index Fund | 13,163,490 | 10,623,646 | 4,958,232 | 671,847 | 253,535 | 8,113,109 | 27,195,548 |
| Fidelity Series Large Cap Stock Fund | 13,693,571 | 11,351,936 | 4,857,847 | 1,303,378 | 83,218 | 9,436,800 | 29,707,678 |
| Fidelity Series Large Cap Value Index Fund | 25,373,711 | 20,961,754 | 7,010,482 | 1,031,028 | 183,673 | 17,239,500 | 56,748,156 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 4,648,520 | 10,050,536 | 1,706,823 | 799,299 | (80,923) | (2,193,765) | 10,717,545 |
| Fidelity Series Overseas Fund | 11,770,612 | 8,870,042 | 3,450,054 | 230,221 | (136,511) | 6,284,454 | 23,338,543 |
| Fidelity Series Real Estate Income Fund | 758,851 | 523,994 | 86,980 | 73,954 | 110 | 293,307 | 1,489,282 |
| Fidelity Series Short-Term Credit Fund | 541,937 | 145,346 | 202,074 | 12,975 | (667) | 16,174 | 500,716 |
| Fidelity Series Small Cap Opportunities Fund | 6,788,869 | 4,955,599 | 3,182,678 | 255,359 | 93,355 | 5,692,352 | 14,347,497 |
| Fidelity Series Treasury Bill Index Fund | 4,803,949 | 153,559 | 3,326,480 | 21,238 | (9,192) | (9,279) | 1,612,557 |
| Fidelity Series Value Discovery Fund | 7,961,607 | 8,788,656 | 2,513,728 | 393,901 | 63,685 | 6,667,823 | 20,968,043 |
| | $181,230,155 | $172,012,708 | $62,303,298 | $21,597,044 | $1,095,802 | $99,763,596 | $391,798,963 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $202,916,374 | $202,916,374 | $-- | $-- |
| International Equity Funds | 159,751,811 | 159,751,811 | -- | -- |
| Bond Funds | 26,002,636 | 26,002,636 | -- | -- |
| Short-Term Funds | 3,128,142 | 3,128,142 | -- | -- |
| Total Investments in Securities: | $391,798,963 | $391,798,963 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2055 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $323,745,990) | $391,798,963 | |
| Total Investment in Securities (cost $323,745,990) | | $391,798,963 |
| Cash | | 214 |
| Receivable for investments sold | | 2,949,418 |
| Receivable for fund shares sold | | 1,008,402 |
| Total assets | | 395,756,997 |
| Liabilities | | |
| Payable for investments purchased | $3,912,201 | |
| Payable for fund shares redeemed | 44,562 | |
| Accrued management fee | 111,759 | |
| Distribution and service plan fees payable | 861 | |
| Total liabilities | | 4,069,383 |
| Net Assets | | $391,687,614 |
| Net Assets consist of: | | |
| Paid in capital | | $316,139,389 |
| Total accumulated earnings (loss) | | 75,548,225 |
| Net Assets | | $391,687,614 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($1,295,612 ÷ 105,472 shares)(a) | | $12.28 |
| Maximum offering price per share (100/94.25 of $12.28) | | $13.03 |
| Class M: | | |
| Net Asset Value and redemption price per share ($670,687 ÷ 54,727 shares)(a) | | $12.26 |
| Maximum offering price per share (100/96.50 of $12.26) | | $12.70 |
| Class C: | | |
| Net Asset Value and offering price per share ($390,643 ÷ 32,049 shares)(a) | | $12.19 |
| Fidelity Freedom Blend 2055 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($13,738,975 ÷ 1,114,900 shares) | | $12.32 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($7,107,502 ÷ 576,529 shares) | | $12.33 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($361,199,764 ÷ 29,235,172 shares) | | $12.35 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($3,995,377 ÷ 324,331 shares) | | $12.32 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($217,420 ÷ 17,593 shares) | | $12.36 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($3,071,634 ÷ 248,842 shares) | | $12.34 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $5,043,385 |
| Expenses | | |
| Management fee | $1,038,920 | |
| Distribution and service plan fees | 7,309 | |
| Independent trustees' fees and expenses | 795 | |
| Total expenses | | 1,047,024 |
| Net investment income (loss) | | 3,996,361 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 1,095,802 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 16,553,659 | |
| Total net realized gain (loss) | | 17,649,461 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 99,763,596 | |
| Total change in net unrealized appreciation (depreciation) | | 99,763,596 |
| Net gain (loss) | | 117,413,057 |
| Net increase (decrease) in net assets resulting from operations | | $121,409,418 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $3,996,361 | $2,761,863 |
| Net realized gain (loss) | 17,649,461 | 3,031,085 |
| Change in net unrealized appreciation (depreciation) | 99,763,596 | (31,971,950) |
| Net increase (decrease) in net assets resulting from operations | 121,409,418 | (26,179,002) |
| Distributions to shareholders | (14,842,492) | (5,105,487) |
| Share transactions - net increase (decrease) | 103,892,978 | 207,416,351 |
| Total increase (decrease) in net assets | 210,459,904 | 176,131,862 |
| Net Assets | | |
| Beginning of period | 181,227,710 | 5,095,848 |
| End of period | $391,687,614 | $181,227,710 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Blend 2055 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.27 | $9.51 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .10 | .16 | .04 |
| Net realized and unrealized gain (loss) | 4.43 | (1.10) | (.22) |
| Total from investment operations | 4.53 | (.94) | (.18) |
| Distributions from net investment income | (.13) | (.15) | (.14) |
| Distributions from net realized gain | (.39) | (.14) | (.16) |
| Total distributions | (.52) | (.30)C | (.31)C |
| Net asset value, end of period | $12.28 | $8.27 | $9.51 |
| Total ReturnD,E | 55.44% | (10.55)% | (1.46)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | .79% | .79% | .79%H |
| Expenses net of fee waivers, if any | .79% | .79% | .79%H |
| Expenses net of all reductions | .79% | .79% | .79%H |
| Net investment income (loss) | .92% | 1.58% | .70%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,296 | $393 | $151 |
| Portfolio turnover rateI | 21% | 26% | 14%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2055 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.27 | $9.51 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .07 | .13 | .02 |
| Net realized and unrealized gain (loss) | 4.42 | (1.09) | (.21) |
| Total from investment operations | 4.49 | (.96) | (.19) |
| Distributions from net investment income | (.11) | (.13) | (.13) |
| Distributions from net realized gain | (.39) | (.14) | (.16) |
| Total distributions | (.50) | (.28)C | (.30)C |
| Net asset value, end of period | $12.26 | $8.27 | $9.51 |
| Total ReturnD,E | 54.95% | (10.73)% | (1.55)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | 1.04% | 1.04% | 1.04%H |
| Expenses net of fee waivers, if any | 1.04% | 1.04% | 1.04%H |
| Expenses net of all reductions | 1.04% | 1.04% | 1.04%H |
| Net investment income (loss) | .67% | 1.33% | .45%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $671 | $249 | $101 |
| Portfolio turnover rateI | 21% | 26% | 14%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2055 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.24 | $9.49 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .02 | .08 | –C |
| Net realized and unrealized gain (loss) | 4.40 | (1.08) | (.23) |
| Total from investment operations | 4.42 | (1.00) | (.23) |
| Distributions from net investment income | (.08) | (.10) | (.12) |
| Distributions from net realized gain | (.39) | (.14) | (.16) |
| Total distributions | (.47) | (.25)D | (.28) |
| Net asset value, end of period | $12.19 | $8.24 | $9.49 |
| Total ReturnE,F | 54.23% | (11.12)% | (1.93)% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | 1.55%I | 1.54% | 1.54%J |
| Expenses net of fee waivers, if any | 1.55%I | 1.54% | 1.54%J |
| Expenses net of all reductions | 1.55%I | 1.54% | 1.54%J |
| Net investment income (loss) | .16% | .83% | (.05)%J |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $391 | $153 | $107 |
| Portfolio turnover rateK | 21% | 26% | 14%J |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Amount represents less than $.005 per share.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Total returns do not include the effect of the contingent deferred sales charge.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
J Annualized
K Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2055 Fund
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.29 | $9.51 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .17 | .05 |
| Net realized and unrealized gain (loss) | 4.43 | (1.08) | (.22) |
| Total from investment operations | 4.56 | (.91) | (.17) |
| Distributions from net investment income | (.14) | (.17) | (.15) |
| Distributions from net realized gain | (.39) | (.14) | (.16) |
| Total distributions | (.53) | (.31) | (.32)C |
| Net asset value, end of period | $12.32 | $8.29 | $9.51 |
| Total ReturnD | 55.75% | (10.22)% | (1.35)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .54% | .56%G | .54%H |
| Expenses net of fee waivers, if any | .54% | .56%G | .54%H |
| Expenses net of all reductions | .54% | .56%G | .54%H |
| Net investment income (loss) | 1.17% | 1.82% | .95%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $13,739 | $5,211 | $320 |
| Portfolio turnover rateI | 21% | 26% | 14%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2055 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.29 | $9.52 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .14 | .19 | .06 |
| Net realized and unrealized gain (loss) | 4.44 | (1.09) | (.22) |
| Total from investment operations | 4.58 | (.90) | (.16) |
| Distributions from net investment income | (.15) | (.19) | (.15) |
| Distributions from net realized gain | (.39) | (.14) | (.16) |
| Total distributions | (.54) | (.33) | (.32)C |
| Net asset value, end of period | $12.33 | $8.29 | $9.52 |
| Total ReturnD | 55.92% | (10.17)% | (1.23)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .44% | .44% | .44%G |
| Expenses net of fee waivers, if any | .44% | .44% | .44%G |
| Expenses net of all reductions | .44% | .44% | .44%G |
| Net investment income (loss) | 1.27% | 1.93% | 1.05%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $7,108 | $4,757 | $99 |
| Portfolio turnover rateH | 21% | 26% | 14%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2055 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.30 | $9.52 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .20 | .06 |
| Net realized and unrealized gain (loss) | 4.44 | (1.10) | (.22) |
| Total from investment operations | 4.59 | (.90) | (.16) |
| Distributions from net investment income | (.15) | (.18) | (.16) |
| Distributions from net realized gain | (.40) | (.15) | (.16) |
| Total distributions | (.54)C | (.32)C | (.32) |
| Net asset value, end of period | $12.35 | $8.30 | $9.52 |
| Total ReturnD | 56.09% | (10.11)% | (1.19)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .34% | .34% | .35%G,H |
| Expenses net of fee waivers, if any | .34% | .34% | .35%G,H |
| Expenses net of all reductions | .34% | .34% | .35%G,H |
| Net investment income (loss) | 1.37% | 2.03% | 1.15%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $361,200 | $167,831 | $4,021 |
| Portfolio turnover rateI | 21% | 26% | 14%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2055 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.28 | $9.52 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .18 | .05 |
| Net realized and unrealized gain (loss) | 4.44 | (1.10) | (.22) |
| Total from investment operations | 4.57 | (.92) | (.17) |
| Distributions from net investment income | (.14) | (.18) | (.15) |
| Distributions from net realized gain | (.39) | (.14) | (.16) |
| Total distributions | (.53) | (.32) | (.31) |
| Net asset value, end of period | $12.32 | $8.28 | $9.52 |
| Total ReturnC | 55.85% | (10.32)% | (1.27)% |
| Ratios to Average Net AssetsD,E | | | |
| Expenses before reductions | .54% | .54% | .54%F |
| Expenses net of fee waivers, if any | .54% | .54% | .54%F |
| Expenses net of all reductions | .54% | .54% | .54%F |
| Net investment income (loss) | 1.17% | 1.83% | .95%F |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $3,995 | $1,851 | $99 |
| Portfolio turnover rateG | 21% | 26% | 14%F |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2055 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.30 | $9.52 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .14 | .19 | .06 |
| Net realized and unrealized gain (loss) | 4.45 | (1.10) | (.22) |
| Total from investment operations | 4.59 | (.91) | (.16) |
| Distributions from net investment income | (.14) | (.17) | (.15) |
| Distributions from net realized gain | (.39) | (.14) | (.16) |
| Total distributions | (.53) | (.31) | (.32)C |
| Net asset value, end of period | $12.36 | $8.30 | $9.52 |
| Total ReturnD | 56.03% | (10.23)% | (1.23)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .44% | .44% | .44%G |
| Expenses net of fee waivers, if any | .44% | .44% | .44%G |
| Expenses net of all reductions | .44% | .44% | .44%G |
| Net investment income (loss) | 1.27% | 1.93% | 1.05%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $217 | $89 | $99 |
| Portfolio turnover rateH | 21% | 26% | 14%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2055 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.30 | $9.52 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .19 | .06 |
| Net realized and unrealized gain (loss) | 4.44 | (1.09) | (.22)C |
| Total from investment operations | 4.59 | (.90) | (.16) |
| Distributions from net investment income | (.16) | (.18) | (.16) |
| Distributions from net realized gain | (.40) | (.14) | (.16) |
| Total distributions | (.55)D | (.32) | (.32) |
| Net asset value, end of period | $12.34 | $8.30 | $9.52 |
| Total ReturnE | 56.10% | (10.11)% | (1.19)% |
| Ratios to Average Net AssetsC,F | | | |
| Expenses before reductions | .34% | .35%G | .34%H |
| Expenses net of fee waivers, if any | .34% | .35%G | .34%H |
| Expenses net of all reductions | .34% | .35%G | .34%H |
| Net investment income (loss) | 1.37% | 2.03% | 1.15%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $3,072 | $694 | $99 |
| Portfolio turnover rateI | 21% | 26% | 14%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
D Total distributions per share do not sum due to rounding.
E Total returns for periods of less than one year are not annualized.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2060 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Large Cap Value Index Fund | 14.5 |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Blue Chip Growth Fund | 11.0 |
| Fidelity Series Large Cap Stock Fund | 7.6 |
| Fidelity Series Large Cap Growth Index Fund | 6.9 |
| Fidelity Series International Growth Fund | 6.0 |
| Fidelity Series Overseas Fund | 6.0 |
| Fidelity Series International Value Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 5.3 |
| Fidelity Series Small Cap Opportunities Fund | 3.7 |
| | 81.2 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® Blend 2060 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 51.8% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 832,459 | $14,493,113 |
| Fidelity Series Commodity Strategy Fund (a) | | 746,320 | 3,656,970 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 579,809 | 9,149,383 |
| Fidelity Series Large Cap Stock Fund (a) | | 541,714 | 9,994,618 |
| Fidelity Series Large Cap Value Index Fund (a) | | 1,299,655 | 19,091,927 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 272,399 | 4,826,919 |
| Fidelity Series Value Discovery Fund (a) | | 443,111 | 7,054,331 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $55,413,851) | | | 68,267,261 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 249,599 | 3,187,380 |
| Fidelity Series Emerging Markets Fund (a) | | 179,282 | 2,095,811 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 734,278 | 18,841,581 |
| Fidelity Series International Growth Fund (a) | | 437,776 | 7,853,697 |
| Fidelity Series International Index Fund (a) | | 280,198 | 3,272,708 |
| Fidelity Series International Small Cap Fund (a) | | 135,596 | 2,809,546 |
| Fidelity Series International Value Fund (a) | | 721,933 | 7,832,972 |
| Fidelity Series Overseas Fund (a) | | 622,660 | 7,851,748 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $44,094,619) | | | 53,745,443 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 1,330 | 14,435 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 79,375 | 720,725 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 24,041 | 240,892 |
| Fidelity Series Floating Rate High Income Fund (a) | | 15,799 | 145,194 |
| Fidelity Series Government Bond Index Fund (a) | | 1,683 | 17,620 |
| Fidelity Series High Income Fund (a) | | 89,160 | 836,325 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 245,093 | 2,632,303 |
| Fidelity Series Investment Grade Bond Fund (a) | | 1,731 | 19,953 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 1,344 | 13,842 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 456,417 | 3,605,691 |
| Fidelity Series Real Estate Income Fund (a) | | 45,343 | 501,036 |
| TOTAL BOND FUNDS | | | |
| (Cost $9,144,902) | | | 8,748,016 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 341,434 | 341,434 |
| Fidelity Series Short-Term Credit Fund (a) | | 16,564 | 168,457 |
| Fidelity Series Treasury Bill Index Fund (a) | | 54,251 | 542,511 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $1,051,819) | | | 1,052,402 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $109,705,191) | | | 131,813,122 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (37,081) |
| NET ASSETS - 100% | | | $131,776,041 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $4,978,324 | $9,766,230 | $2,568,177 | $3,488,218 | $113,332 | $2,203,404 | $14,493,113 |
| Fidelity Series Canada Fund | 1,200,585 | 1,382,957 | 288,630 | 52,148 | (9,623) | 902,091 | 3,187,380 |
| Fidelity Series Commodity Strategy Fund | 1,737,562 | 2,004,377 | 757,202 | 10,611 | (13,602) | 685,835 | 3,656,970 |
| Fidelity Series Corporate Bond Fund | 14,954 | 10,000 | 10,618 | 400 | (841) | 940 | 14,435 |
| Fidelity Series Emerging Markets Debt Fund | 338,404 | 413,840 | 77,653 | 26,184 | (1,404) | 47,538 | 720,725 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 254,090 | 9,535 | 2,974 | (97) | (3,566) | 240,892 |
| Fidelity Series Emerging Markets Fund | 618,240 | 1,020,864 | 156,423 | 23,966 | 3,092 | 610,038 | 2,095,811 |
| Fidelity Series Emerging Markets Opportunities Fund | 5,692,038 | 9,085,226 | 1,343,530 | 456,494 | 29,722 | 5,378,125 | 18,841,581 |
| Fidelity Series Floating Rate High Income Fund | 78,644 | 77,221 | 24,828 | 5,176 | (213) | 14,370 | 145,194 |
| Fidelity Series Government Bond Index Fund | 22,654 | 11,465 | 15,445 | 352 | (26) | (1,028) | 17,620 |
| Fidelity Series Government Money Market Fund 0.08% | 428,307 | 1,575,704 | 1,662,577 | 581 | -- | -- | 341,434 |
| Fidelity Series High Income Fund | 392,767 | 440,122 | 63,344 | 34,473 | 57 | 66,723 | 836,325 |
| Fidelity Series Inflation-Protected Bond Index Fund | 1,160,476 | 1,621,583 | 241,415 | 27,206 | (1,091) | 92,750 | 2,632,303 |
| Fidelity Series International Growth Fund | 3,457,712 | 4,589,470 | 1,123,950 | 915,670 | (4,934) | 935,399 | 7,853,697 |
| Fidelity Series International Index Fund | 1,361,733 | 1,397,147 | 239,631 | 51,540 | 2,186 | 751,273 | 3,272,708 |
| Fidelity Series International Small Cap Fund | 1,019,630 | 1,150,544 | 100,430 | 19,177 | 7,150 | 732,652 | 2,809,546 |
| Fidelity Series International Value Fund | 3,302,734 | 3,438,704 | 1,192,583 | 179,961 | 27,880 | 2,256,237 | 7,832,972 |
| Fidelity Series Investment Grade Bond Fund | 22,620 | 13,879 | 16,137 | 861 | (598) | 189 | 19,953 |
| Fidelity Series Investment Grade Securitized Fund | 15,595 | 9,486 | 10,926 | 305 | (8) | (305) | 13,842 |
| Fidelity Series Large Cap Growth Index Fund | 3,717,336 | 4,475,922 | 1,572,911 | 207,513 | 54,386 | 2,474,650 | 9,149,383 |
| Fidelity Series Large Cap Stock Fund | 3,865,673 | 4,743,721 | 1,593,752 | 405,274 | 21,373 | 2,957,603 | 9,994,618 |
| Fidelity Series Large Cap Value Index Fund | 7,164,828 | 8,821,346 | 2,343,095 | 328,183 | 47,625 | 5,401,223 | 19,091,927 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 1,318,052 | 3,554,220 | 534,069 | 250,324 | (48,565) | (683,947) | 3,605,691 |
| Fidelity Series Overseas Fund | 3,353,354 | 3,734,686 | 1,113,030 | 73,124 | (44,285) | 1,921,023 | 7,851,748 |
| Fidelity Series Real Estate Income Fund | 214,435 | 226,718 | 31,167 | 23,399 | 67 | 90,983 | 501,036 |
| Fidelity Series Short-Term Credit Fund | 180,553 | 48,033 | 65,297 | 4,323 | (213) | 5,381 | 168,457 |
| Fidelity Series Small Cap Opportunities Fund | 1,917,349 | 2,127,186 | 1,013,248 | 80,711 | 767 | 1,794,865 | 4,826,919 |
| Fidelity Series Treasury Bill Index Fund | 1,350,828 | 73,304 | 876,301 | 6,141 | (2,822) | (2,498) | 542,511 |
| Fidelity Series Value Discovery Fund | 2,248,437 | 3,511,607 | 812,709 | 125,397 | 17,331 | 2,089,665 | 7,054,331 |
| | $51,173,824 | $69,579,652 | $19,858,613 | $6,800,686 | $196,646 | $30,721,613 | $131,813,122 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $68,267,261 | $68,267,261 | $-- | $-- |
| International Equity Funds | 53,745,443 | 53,745,443 | -- | -- |
| Bond Funds | 8,748,016 | 8,748,016 | -- | -- |
| Short-Term Funds | 1,052,402 | 1,052,402 | -- | -- |
| Total Investments in Securities: | $131,813,122 | $131,813,122 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2060 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $109,705,191) | $131,813,122 | |
| Total Investment in Securities (cost $109,705,191) | | $131,813,122 |
| Cash | | 205 |
| Receivable for investments sold | | 955,022 |
| Receivable for fund shares sold | | 461,498 |
| Total assets | | 133,229,847 |
| Liabilities | | |
| Payable for investments purchased | $1,372,247 | |
| Payable for fund shares redeemed | 42,673 | |
| Accrued management fee | 38,075 | |
| Distribution and service plan fees payable | 811 | |
| Total liabilities | | 1,453,806 |
| Net Assets | | $131,776,041 |
| Net Assets consist of: | | |
| Paid in capital | | $107,401,199 |
| Total accumulated earnings (loss) | | 24,374,842 |
| Net Assets | | $131,776,041 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($1,204,949 ÷ 97,298 shares)(a) | | $12.38 |
| Maximum offering price per share (100/94.25 of $12.38) | | $13.14 |
| Class M: | | |
| Net Asset Value and redemption price per share ($413,893 ÷ 33,524 shares)(a) | | $12.35 |
| Maximum offering price per share (100/96.50 of $12.35) | | $12.80 |
| Class C: | | |
| Net Asset Value and offering price per share ($484,097 ÷ 39,451 shares)(a) | | $12.27 |
| Fidelity Freedom Blend 2060 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($6,777,973 ÷ 546,192 shares) | | $12.41 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($2,363,488 ÷ 190,365 shares) | | $12.42 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($116,568,629 ÷ 9,372,369 shares) | | $12.44 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($2,283,506 ÷ 184,111 shares) | | $12.40 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($138,882 ÷ 11,158 shares) | | $12.45 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($1,540,624 ÷ 123,820 shares) | | $12.44 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $1,595,275 |
| Expenses | | |
| Management fee | $333,363 | |
| Distribution and service plan fees | 7,307 | |
| Independent trustees' fees and expenses | 244 | |
| Total expenses before reductions | 340,914 | |
| Expense reductions | (1) | |
| Total expenses after reductions | | 340,913 |
| Net investment income (loss) | | 1,254,362 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | 196,646 | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 5,205,411 | |
| Total net realized gain (loss) | | 5,402,057 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 30,721,613 | |
| Total change in net unrealized appreciation (depreciation) | | 30,721,613 |
| Net gain (loss) | | 36,123,670 |
| Net increase (decrease) in net assets resulting from operations | | $37,378,032 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | Year ended March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $1,254,362 | $614,960 |
| Net realized gain (loss) | 5,402,057 | 442,582 |
| Change in net unrealized appreciation (depreciation) | 30,721,613 | (8,667,644) |
| Net increase (decrease) in net assets resulting from operations | 37,378,032 | (7,610,102) |
| Distributions to shareholders | (4,331,551) | (1,132,008) |
| Share transactions - net increase (decrease) | 47,556,542 | 57,305,021 |
| Total increase (decrease) in net assets | 80,603,023 | 48,562,911 |
| Net Assets | | |
| Beginning of period | 51,173,018 | 2,610,107 |
| End of period | $131,776,041 | $51,173,018 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Blend 2060 Fund Class A
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.30 | $9.53 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .10 | .16 | .08 |
| Net realized and unrealized gain (loss) | 4.45 | (1.11) | (.27) |
| Total from investment operations | 4.55 | (.95) | (.19) |
| Distributions from net investment income | (.12) | (.14) | (.14) |
| Distributions from net realized gain | (.35) | (.14) | (.15) |
| Total distributions | (.47) | (.28) | (.28)C |
| Net asset value, end of period | $12.38 | $8.30 | $9.53 |
| Total ReturnD,E,F | 55.38% | (10.54)% | (1.50)% |
| Ratios to Average Net AssetsG,H | | | |
| Expenses before reductions | .79% | .79% | .80%I,J |
| Expenses net of fee waivers, if any | .79% | .79% | .80%I,J |
| Expenses net of all reductions | .79% | .79% | .80%I,J |
| Net investment income (loss) | .93% | 1.62% | 1.50%I |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,205 | $493 | $243 |
| Portfolio turnover rateK | 22% | 27% | 11%I |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Total returns do not include the effect of the sales charges.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
K Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2060 Fund Class M
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.29 | $9.53 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .07 | .14 | .07 |
| Net realized and unrealized gain (loss) | 4.45 | (1.12) | (.26) |
| Total from investment operations | 4.52 | (.98) | (.19) |
| Distributions from net investment income | (.11) | (.12) | (.13) |
| Distributions from net realized gain | (.35) | (.14) | (.15) |
| Total distributions | (.46) | (.26) | (.28) |
| Net asset value, end of period | $12.35 | $8.29 | $9.53 |
| Total ReturnC,D | 55.06% | (10.80)% | (1.59)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | 1.04% | 1.04% | 1.04%G |
| Expenses net of fee waivers, if any | 1.04% | 1.04% | 1.04%G |
| Expenses net of all reductions | 1.04% | 1.04% | 1.04%G |
| Net investment income (loss) | .68% | 1.37% | 1.25%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $414 | $174 | $143 |
| Portfolio turnover rateH | 22% | 27% | 11%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2060 Fund Class C
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.26 | $9.52 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .02 | .09 | .04 |
| Net realized and unrealized gain (loss) | 4.41 | (1.11) | (.26) |
| Total from investment operations | 4.43 | (1.02) | (.22) |
| Distributions from net investment income | (.07) | (.10) | (.12) |
| Distributions from net realized gain | (.35) | (.14) | (.15) |
| Total distributions | (.42) | (.24) | (.26)C |
| Net asset value, end of period | $12.27 | $8.26 | $9.52 |
| Total ReturnD,E | 54.17% | (11.22)% | (1.87)% |
| Ratios to Average Net AssetsF,G | | | |
| Expenses before reductions | 1.54% | 1.54% | 1.54%H |
| Expenses net of fee waivers, if any | 1.54% | 1.54% | 1.54%H |
| Expenses net of all reductions | 1.54% | 1.54% | 1.54%H |
| Net investment income (loss) | .18% | .87% | .76%H |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $484 | $222 | $107 |
| Portfolio turnover rateI | 22% | 27% | 11%H |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns do not include the effect of the contingent deferred sales charge.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2060 Fund
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.31 | $9.54 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .18 | .09 |
| Net realized and unrealized gain (loss) | 4.46 | (1.11) | (.25) |
| Total from investment operations | 4.59 | (.93) | (.16) |
| Distributions from net investment income | (.14) | (.16) | (.15) |
| Distributions from net realized gain | (.35) | (.14) | (.15) |
| Total distributions | (.49) | (.30) | (.30) |
| Net asset value, end of period | $12.41 | $8.31 | $9.54 |
| Total ReturnC | 55.78% | (10.35)% | (1.27)% |
| Ratios to Average Net AssetsD,E | | | |
| Expenses before reductions | .54% | .55%F | .54%G |
| Expenses net of fee waivers, if any | .54% | .55%F | .54%G |
| Expenses net of all reductions | .54% | .55%F | .54%G |
| Net investment income (loss) | 1.18% | 1.87% | 1.75%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $6,778 | $2,773 | $453 |
| Portfolio turnover rateH | 22% | 27% | 11%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2060 Fund Class K
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.31 | $9.54 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .14 | .20 | .10 |
| Net realized and unrealized gain (loss) | 4.47 | (1.11) | (.26) |
| Total from investment operations | 4.61 | (.91) | (.16) |
| Distributions from net investment income | (.14) | (.18) | (.15) |
| Distributions from net realized gain | (.35) | (.14) | (.15) |
| Total distributions | (.50)C | (.32) | (.30) |
| Net asset value, end of period | $12.42 | $8.31 | $9.54 |
| Total ReturnD | 56.01% | (10.22)% | (1.28)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .44% | .44% | .44%G |
| Expenses net of fee waivers, if any | .44% | .44% | .44%G |
| Expenses net of all reductions | .44% | .44% | .44%G |
| Net investment income (loss) | 1.28% | 1.97% | 1.85%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $2,363 | $1,307 | $99 |
| Portfolio turnover rateH | 22% | 27% | 11%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2060 Fund Class K6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.32 | $9.54 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .20 | .10 |
| Net realized and unrealized gain (loss) | 4.47 | (1.10) | (.26) |
| Total from investment operations | 4.62 | (.90) | (.16) |
| Distributions from net investment income | (.15) | (.17) | (.15) |
| Distributions from net realized gain | (.35) | (.14) | (.15) |
| Total distributions | (.50) | (.32)C | (.30) |
| Net asset value, end of period | $12.44 | $8.32 | $9.54 |
| Total ReturnD | 56.17% | (10.12)% | (1.24)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .34% | .34% | .34%G |
| Expenses net of fee waivers, if any | .34% | .34% | .34%G |
| Expenses net of all reductions | .34% | .34% | .34%G |
| Net investment income (loss) | 1.38% | 2.07% | 1.95%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $116,569 | $44,655 | $1,261 |
| Portfolio turnover rateH | 22% | 27% | 11%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2060 Fund Class I
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.30 | $9.54 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .13 | .19 | .10 |
| Net realized and unrealized gain (loss) | 4.46 | (1.12) | (.27) |
| Total from investment operations | 4.59 | (.93) | (.17) |
| Distributions from net investment income | (.13) | (.17) | (.15) |
| Distributions from net realized gain | (.35) | (.14) | (.15) |
| Total distributions | (.49)C | (.31) | (.29)C |
| Net asset value, end of period | $12.40 | $8.30 | $9.54 |
| Total ReturnD | 55.83% | (10.37)% | (1.31)% |
| Ratios to Average Net AssetsE,F | | | |
| Expenses before reductions | .54% | .54% | .54%G |
| Expenses net of fee waivers, if any | .54% | .54% | .54%G |
| Expenses net of all reductions | .54% | .54% | .54%G |
| Net investment income (loss) | 1.18% | 1.87% | 1.75%G |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $2,284 | $1,084 | $102 |
| Portfolio turnover rateH | 22% | 27% | 11%G |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2060 Fund Class Z
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.33 | $9.54 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .14 | .20 | .10 |
| Net realized and unrealized gain (loss) | 4.47 | (1.11) | (.26) |
| Total from investment operations | 4.61 | (.91) | (.16) |
| Distributions from net investment income | (.14) | (.16) | (.15) |
| Distributions from net realized gain | (.35) | (.14) | (.15) |
| Total distributions | (.49) | (.30) | (.30) |
| Net asset value, end of period | $12.45 | $8.33 | $9.54 |
| Total ReturnC | 55.93% | (10.17)% | (1.28)% |
| Ratios to Average Net AssetsD,E | | | |
| Expenses before reductions | .44% | .44% | .44%F |
| Expenses net of fee waivers, if any | .44% | .44% | .44%F |
| Expenses net of all reductions | .44% | .44% | .44%F |
| Net investment income (loss) | 1.28% | 1.97% | 1.86%F |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $139 | $89 | $99 |
| Portfolio turnover rateG | 22% | 27% | 11%F |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2060 Fund Class Z6
| Years ended March 31, | 2021 | 2020 | 2019 A |
| Selected Per–Share Data | | | |
| Net asset value, beginning of period | $8.33 | $9.54 | $10.00 |
| Income from Investment Operations | | | |
| Net investment income (loss)B | .15 | .20 | .11 |
| Net realized and unrealized gain (loss) | 4.47 | (1.10) | (.27) |
| Total from investment operations | 4.62 | (.90) | (.16) |
| Distributions from net investment income | (.15) | (.17) | (.15) |
| Distributions from net realized gain | (.36) | (.14) | (.15) |
| Total distributions | (.51) | (.31) | (.30) |
| Net asset value, end of period | $12.44 | $8.33 | $9.54 |
| Total ReturnC | 56.07% | (10.10)% | (1.24)% |
| Ratios to Average Net AssetsD,E | | | |
| Expenses before reductions | .34% | .34% | .34%F |
| Expenses net of fee waivers, if any | .34% | .34% | .34%F |
| Expenses net of all reductions | .34% | .34% | .34%F |
| Net investment income (loss) | 1.38% | 2.07% | 1.96%F |
| Supplemental Data | | | |
| Net assets, end of period (000 omitted) | $1,541 | $375 | $103 |
| Portfolio turnover rateG | 22% | 27% | 11%F |
A For the period August 31, 2018 (commencement of operations) to March 31, 2019.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
F Annualized
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2065 Fund
Investment Summary (Unaudited)
The information in the following tables is based on the direct investments of the Fund.
Top Holdings as of March 31, 2021
| | % of fund's net assets |
| Fidelity Series Large Cap Value Index Fund | 14.5 |
| Fidelity Series Emerging Markets Opportunities Fund | 14.3 |
| Fidelity Series Blue Chip Growth Fund | 11.0 |
| Fidelity Series Large Cap Stock Fund | 7.6 |
| Fidelity Series Large Cap Growth Index Fund | 6.9 |
| Fidelity Series Overseas Fund | 6.0 |
| Fidelity Series International Growth Fund | 5.9 |
| Fidelity Series International Value Fund | 5.9 |
| Fidelity Series Value Discovery Fund | 5.3 |
| Fidelity Series Small Cap Opportunities Fund | 3.7 |
| | 81.1 |
Asset Allocation (% of fund's net assets)
| Period end |
| | Domestic Equity Funds | 51.8% |
| | International Equity Funds | 40.8% |
| | Bond Funds | 6.6% |
| | Short-Term Funds | 0.8% |
Domestic Equity Funds category includes Fidelity Series Commodity Strategy Fund which invests in commodity-related investments.
Fidelity Freedom® Blend 2065 Fund
Schedule of Investments March 31, 2021
Showing Percentage of Net Assets
| Domestic Equity Funds - 51.8% | | | |
| | | Shares | Value |
| Fidelity Series Blue Chip Growth Fund (a) | | 81,476 | $1,418,499 |
| Fidelity Series Commodity Strategy Fund (a) | | 73,048 | 357,937 |
| Fidelity Series Large Cap Growth Index Fund (a) | | 56,749 | 895,503 |
| Fidelity Series Large Cap Stock Fund (a) | | 53,027 | 978,346 |
| Fidelity Series Large Cap Value Index Fund (a) | | 127,221 | 1,868,872 |
| Fidelity Series Small Cap Opportunities Fund (a) | | 26,666 | 472,527 |
| Fidelity Series Value Discovery Fund (a) | | 43,374 | 690,520 |
| TOTAL DOMESTIC EQUITY FUNDS | | | |
| (Cost $5,685,911) | | | 6,682,204 |
|
| International Equity Funds - 40.8% | | | |
| Fidelity Series Canada Fund (a) | | 24,431 | 311,981 |
| Fidelity Series Emerging Markets Fund (a) | | 17,548 | 205,139 |
| Fidelity Series Emerging Markets Opportunities Fund (a) | | 71,871 | 1,844,205 |
| Fidelity Series International Growth Fund (a) | | 42,753 | 766,981 |
| Fidelity Series International Index Fund (a) | | 27,427 | 320,348 |
| Fidelity Series International Small Cap Fund (a) | | 13,372 | 277,070 |
| Fidelity Series International Value Fund (a) | | 70,640 | 766,444 |
| Fidelity Series Overseas Fund (a) | | 60,948 | 768,554 |
| TOTAL INTERNATIONAL EQUITY FUNDS | | | |
| (Cost $4,564,065) | | | 5,260,722 |
|
| Bond Funds - 6.6% | | | |
| Fidelity Series Corporate Bond Fund (a) | | 130 | 1,408 |
| Fidelity Series Emerging Markets Debt Fund (a) | | 7,769 | 70,545 |
| Fidelity Series Emerging Markets Debt Local Currency Fund (a) | | 2,353 | 23,578 |
| Fidelity Series Floating Rate High Income Fund (a) | | 1,546 | 14,211 |
| Fidelity Series Government Bond Index Fund (a) | | 166 | 1,735 |
| Fidelity Series High Income Fund (a) | | 8,726 | 81,845 |
| Fidelity Series Inflation-Protected Bond Index Fund (a) | | 23,991 | 257,661 |
| Fidelity Series Investment Grade Bond Fund (a) | | 168 | 1,933 |
| Fidelity Series Investment Grade Securitized Fund (a) | | 131 | 1,351 |
| Fidelity Series Long-Term Treasury Bond Index Fund (a) | | 44,667 | 352,865 |
| Fidelity Series Real Estate Income Fund (a) | | 4,438 | 49,041 |
| TOTAL BOND FUNDS | | | |
| (Cost $896,951) | | | 856,173 |
|
| Short-Term Funds - 0.8% | | | |
| Fidelity Series Government Money Market Fund 0.08% (a)(b) | | 33,421 | 33,421 |
| Fidelity Series Short-Term Credit Fund (a) | | 1,621 | 16,490 |
| Fidelity Series Treasury Bill Index Fund (a) | | 5,310 | 53,102 |
| TOTAL SHORT-TERM FUNDS | | | |
| (Cost $103,021) | | | 103,013 |
| TOTAL INVESTMENT IN SECURITIES - 100.0% | | | |
| (Cost $11,249,948) | | | 12,902,112 |
| NET OTHER ASSETS (LIABILITIES) - 0.0% | | | (4,308) |
| NET ASSETS - 100% | | | $12,897,804 |
Legend
(a) Affiliated Fund
(b) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity Series Blue Chip Growth Fund | $246,710 | $1,326,853 | $273,765 | $247,397 | $(3,764) | $122,465 | $1,418,499 |
| Fidelity Series Canada Fund | 58,816 | 238,013 | 49,354 | 4,072 | (1,775) | 66,281 | 311,981 |
| Fidelity Series Commodity Strategy Fund | 87,912 | 303,009 | 81,012 | 704 | (445) | 48,473 | 357,937 |
| Fidelity Series Corporate Bond Fund | 668 | 1,175 | 418 | 27 | (35) | 18 | 1,408 |
| Fidelity Series Emerging Markets Debt Fund | 16,137 | 65,979 | 13,243 | 1,836 | (318) | 1,990 | 70,545 |
| Fidelity Series Emerging Markets Debt Local Currency Fund | -- | 25,892 | 1,728 | 256 | (33) | (553) | 23,578 |
| Fidelity Series Emerging Markets Fund | 30,515 | 164,805 | 29,214 | 1,871 | (786) | 39,819 | 205,139 |
| Fidelity Series Emerging Markets Opportunities Fund | 280,112 | 1,475,827 | 252,078 | 35,648 | (10,134) | 350,478 | 1,844,205 |
| Fidelity Series Floating Rate High Income Fund | 3,787 | 13,804 | 4,261 | 369 | (76) | 957 | 14,211 |
| Fidelity Series Government Bond Index Fund | 1,022 | 1,429 | 630 | 23 | (1) | (85) | 1,735 |
| Fidelity Series Government Money Market Fund 0.08% | 31,125 | 180,173 | 177,877 | 65 | -- | -- | 33,421 |
| Fidelity Series High Income Fund | 19,212 | 73,464 | 14,632 | 2,487 | (192) | 3,993 | 81,845 |
| Fidelity Series Inflation-Protected Bond Index Fund | 54,819 | 235,099 | 37,340 | 2,133 | (167) | 5,250 | 257,661 |
| Fidelity Series International Growth Fund | 171,036 | 692,575 | 141,326 | 71,552 | (3,973) | 48,669 | 766,981 |
| Fidelity Series International Index Fund | 67,715 | 249,708 | 47,301 | 4,025 | (1,897) | 52,123 | 320,348 |
| Fidelity Series International Small Cap Fund | 51,927 | 213,990 | 36,850 | 1,499 | 11 | 47,992 | 277,070 |
| Fidelity Series International Value Fund | 165,447 | 600,720 | 159,301 | 14,059 | (4,918) | 164,496 | 766,444 |
| Fidelity Series Investment Grade Bond Fund | 1,012 | 1,595 | 627 | 56 | (24) | (23) | 1,933 |
| Fidelity Series Investment Grade Securitized Fund | 696 | 1,116 | 436 | 20 | -- | (25) | 1,351 |
| Fidelity Series Large Cap Growth Index Fund | 183,258 | 731,976 | 175,049 | 13,840 | 2,010 | 153,308 | 895,503 |
| Fidelity Series Large Cap Stock Fund | 191,426 | 779,330 | 211,720 | 28,472 | (3,995) | 223,305 | 978,346 |
| Fidelity Series Large Cap Value Index Fund | 353,202 | 1,480,405 | 365,143 | 25,909 | (11,215) | 411,623 | 1,868,872 |
| Fidelity Series Long-Term Treasury Bond Index Fund | 67,221 | 406,951 | 59,767 | 18,484 | (3,899) | (57,641) | 352,865 |
| Fidelity Series Overseas Fund | 164,074 | 626,120 | 141,087 | 5,713 | (4,559) | 124,006 | 768,554 |
| Fidelity Series Real Estate Income Fund | 10,519 | 41,986 | 9,697 | 1,693 | (409) | 6,642 | 49,041 |
| Fidelity Series Short-Term Credit Fund | 5,909 | 16,903 | 6,451 | 159 | (17) | 146 | 16,490 |
| Fidelity Series Small Cap Opportunities Fund | 94,087 | 350,659 | 97,815 | 6,055 | (3,212) | 128,808 | 472,527 |
| Fidelity Series Treasury Bill Index Fund | 59,792 | 27,726 | 34,190 | 283 | (100) | (126) | 53,102 |
| Fidelity Series Value Discovery Fund | 110,508 | 554,884 | 129,266 | 9,909 | (3,236) | 157,630 | 690,520 |
| | $2,528,664 | $10,882,166 | $2,551,578 | $498,616 | $(57,159) | $2,100,019 | $12,902,112 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable.
Investment Valuation
The following is a summary of the inputs used, as of March 31, 2021, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
| | Valuation Inputs at Reporting Date: |
| Description | Total | Level 1 | Level 2 | Level 3 |
| Investments in Securities: | | | | |
| Domestic Equity Funds | $6,682,204 | $6,682,204 | $-- | $-- |
| International Equity Funds | 5,260,722 | 5,260,722 | -- | -- |
| Bond Funds | 856,173 | 856,173 | -- | -- |
| Short-Term Funds | 103,013 | 103,013 | -- | -- |
| Total Investments in Securities: | $12,902,112 | $12,902,112 | $-- | $-- |
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom® Blend 2065 Fund
Financial Statements
Statement of Assets and Liabilities
| | | March 31, 2021 |
| Assets | | |
Investment in securities, at value — See accompanying schedule:
| | |
| Affiliated issuers (cost $11,249,948) | $12,902,112 | |
| Total Investment in Securities (cost $11,249,948) | | $12,902,112 |
| Cash | | 200 |
| Receivable for investments sold | | 90,590 |
| Receivable for fund shares sold | | 90,465 |
| Total assets | | 13,083,367 |
| Liabilities | | |
| Payable for investments purchased | $178,771 | |
| Payable for fund shares redeemed | 2,172 | |
| Accrued management fee | 4,107 | |
| Distribution and service plan fees payable | 513 | |
| Total liabilities | | 185,563 |
| Net Assets | | $12,897,804 |
| Net Assets consist of: | | |
| Paid in capital | | $11,117,092 |
| Total accumulated earnings (loss) | | 1,780,712 |
| Net Assets | | $12,897,804 |
| Net Asset Value and Maximum Offering Price | | |
| Class A: | | |
| Net Asset Value and redemption price per share ($466,300 ÷ 36,883 shares)(a) | | $12.64 |
| Maximum offering price per share (100/94.25 of $12.64) | | $13.41 |
| Class M: | | |
| Net Asset Value and redemption price per share ($357,700 ÷ 28,322 shares)(a) | | $12.63 |
| Maximum offering price per share (100/96.50 of $12.63) | | $13.09 |
| Class C: | | |
| Net Asset Value and offering price per share ($339,033 ÷ 26,958 shares)(a) | | $12.58 |
| Fidelity Freedom Blend 2065 Fund: | | |
| Net Asset Value, offering price and redemption price per share ($1,766,950 ÷ 139,450 shares) | | $12.67 |
| Class K: | | |
| Net Asset Value, offering price and redemption price per share ($258,716 ÷ 20,384 shares) | | $12.69 |
| Class K6: | | |
| Net Asset Value, offering price and redemption price per share ($8,863,079 ÷ 698,917 shares) | | $12.68 |
| Class I: | | |
| Net Asset Value, offering price and redemption price per share ($428,310 ÷ 33,767 shares) | | $12.68 |
| Class Z: | | |
| Net Asset Value, offering price and redemption price per share ($150,290 ÷ 11,836 shares) | | $12.70 |
| Class Z6: | | |
| Net Asset Value, offering price and redemption price per share ($267,426 ÷ 21,066 shares) | | $12.69 |
(a) Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
| | | Year ended March 31, 2021 |
| Investment Income | | |
| Dividends: | | |
| Affiliated issuers | | $121,541 |
| Expenses | | |
| Management fee | $27,654 | |
| Distribution and service plan fees | 4,580 | |
| Independent trustees' fees and expenses | 16 | |
| Total expenses | | 32,250 |
| Net investment income (loss) | | 89,291 |
| Realized and Unrealized Gain (Loss) | | |
| Net realized gain (loss) on: | | |
| Investment securities: | | |
| Affiliated issuers | (57,159) | |
| Capital gain distributions from underlying funds: | | |
| Affiliated issuers | 377,075 | |
| Total net realized gain (loss) | | 319,916 |
| Change in net unrealized appreciation (depreciation) on: | | |
| Investment securities: | | |
| Affiliated issuers | 2,100,019 | |
| Total change in net unrealized appreciation (depreciation) | | 2,100,019 |
| Net gain (loss) | | 2,419,935 |
| Net increase (decrease) in net assets resulting from operations | | $2,509,226 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
| | Year ended March 31, 2021 | For the period
June 28, 2019 (commencement of operations) to March 31, 2020 |
| Increase (Decrease) in Net Assets | | |
| Operations | | |
| Net investment income (loss) | $89,291 | $21,707 |
| Net realized gain (loss) | 319,916 | 24,775 |
| Change in net unrealized appreciation (depreciation) | 2,100,019 | (447,855) |
| Net increase (decrease) in net assets resulting from operations | 2,509,226 | (401,373) |
| Distributions to shareholders | (284,148) | (42,997) |
| Share transactions - net increase (decrease) | 8,144,106 | 2,972,990 |
| Total increase (decrease) in net assets | 10,369,184 | 2,528,620 |
| Net Assets | | |
| Beginning of period | 2,528,620 | – |
| End of period | $12,897,804 | $2,528,620 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Freedom Blend 2065 Fund Class A
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.42 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .11 | .14 |
| Net realized and unrealized gain (loss) | 4.51 | (1.43) |
| Total from investment operations | 4.62 | (1.29) |
| Distributions from net investment income | (.11) | (.16) |
| Distributions from net realized gain | (.29) | (.14) |
| Total distributions | (.40) | (.29)C |
| Net asset value, end of period | $12.64 | $8.42 |
| Total ReturnD,E | 55.34% | (13.48)% |
| Ratios to Average Net AssetsF,G | | |
| Expenses before reductions | .79% | .79%H |
| Expenses net of fee waivers, if any | .79% | .79%H |
| Expenses net of all reductions | .79% | .79%H |
| Net investment income (loss) | 1.00% | 1.78%H |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $466 | $154 |
| Portfolio turnover rateI | 38% | 29%H |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Total returns do not include the effect of the sales charges.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2065 Fund Class M
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.42 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .08 | .12 |
| Net realized and unrealized gain (loss) | 4.51 | (1.42) |
| Total from investment operations | 4.59 | (1.30) |
| Distributions from net investment income | (.09) | (.14) |
| Distributions from net realized gain | (.29) | (.14) |
| Total distributions | (.38) | (.28) |
| Net asset value, end of period | $12.63 | $8.42 |
| Total ReturnC,D | 54.90% | (13.60)% |
| Ratios to Average Net AssetsE,F | | |
| Expenses before reductions | 1.04% | 1.05%G,H |
| Expenses net of fee waivers, if any | 1.04% | 1.05%G,H |
| Expenses net of all reductions | 1.04% | 1.05%G,H |
| Net investment income (loss) | .75% | 1.53%G |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $358 | $165 |
| Portfolio turnover rateI | 38% | 29%G |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns do not include the effect of the sales charges.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2065 Fund Class C
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.40 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .03 | .08 |
| Net realized and unrealized gain (loss) | 4.49 | (1.42) |
| Total from investment operations | 4.52 | (1.34) |
| Distributions from net investment income | (.05) | (.12) |
| Distributions from net realized gain | (.29) | (.14) |
| Total distributions | (.34) | (.26) |
| Net asset value, end of period | $12.58 | $8.40 |
| Total ReturnC,D | 54.22% | (13.94)% |
| Ratios to Average Net AssetsE,F | | |
| Expenses before reductions | 1.54% | 1.55%G,H |
| Expenses net of fee waivers, if any | 1.54% | 1.55%G,H |
| Expenses net of all reductions | 1.54% | 1.55%G,H |
| Net investment income (loss) | .25% | 1.03%G |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $339 | $156 |
| Portfolio turnover rateI | 38% | 29%G |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns do not include the effect of the contingent deferred sales charge.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2065 Fund
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.43 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .14 | .15 |
| Net realized and unrealized gain (loss) | 4.52 | (1.42) |
| Total from investment operations | 4.66 | (1.27) |
| Distributions from net investment income | (.13) | (.17) |
| Distributions from net realized gain | (.29) | (.14) |
| Total distributions | (.42) | (.30)C |
| Net asset value, end of period | $12.67 | $8.43 |
| Total ReturnD | 55.69% | (13.28)% |
| Ratios to Average Net AssetsE,F | | |
| Expenses before reductions | .54% | .54%G |
| Expenses net of fee waivers, if any | .54% | .54%G |
| Expenses net of all reductions | .54% | .54%G |
| Net investment income (loss) | 1.25% | 2.03%G |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $1,767 | $423 |
| Portfolio turnover rateH | 38% | 29%G |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2065 Fund Class K
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.43 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .15 | .16 |
| Net realized and unrealized gain (loss) | 4.53 | (1.43) |
| Total from investment operations | 4.68 | (1.27) |
| Distributions from net investment income | (.13) | (.17) |
| Distributions from net realized gain | (.29) | (.14) |
| Total distributions | (.42) | (.30)C |
| Net asset value, end of period | $12.69 | $8.43 |
| Total ReturnD | 55.98% | (13.30)% |
| Ratios to Average Net AssetsE,F | | |
| Expenses before reductions | .44% | .44%G |
| Expenses net of fee waivers, if any | .44% | .44%G |
| Expenses net of all reductions | .44% | .44%G |
| Net investment income (loss) | 1.35% | 2.13%G |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $259 | $118 |
| Portfolio turnover rateH | 38% | 29%G |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2065 Fund Class K6
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.43 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .17 | .16 |
| Net realized and unrealized gain (loss) | 4.52 | (1.42) |
| Total from investment operations | 4.69 | (1.26) |
| Distributions from net investment income | (.15) | (.18) |
| Distributions from net realized gain | (.29) | (.14) |
| Total distributions | (.44) | (.31)C |
| Net asset value, end of period | $12.68 | $8.43 |
| Total ReturnD | 56.09% | (13.20)% |
| Ratios to Average Net AssetsE,F | | |
| Expenses before reductions | .34% | .34%G |
| Expenses net of fee waivers, if any | .34% | .34%G |
| Expenses net of all reductions | .34% | .34%G |
| Net investment income (loss) | 1.45% | 2.23%G |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $8,863 | $1,084 |
| Portfolio turnover rateH | 38% | 29%G |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2065 Fund Class I
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.43 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .14 | .15 |
| Net realized and unrealized gain (loss) | 4.52 | (1.42) |
| Total from investment operations | 4.66 | (1.27) |
| Distributions from net investment income | (.13) | (.16) |
| Distributions from net realized gain | (.29) | (.14) |
| Total distributions | (.41)C | (.30) |
| Net asset value, end of period | $12.68 | $8.43 |
| Total ReturnD | 55.77% | (13.34)% |
| Ratios to Average Net AssetsE,F | | |
| Expenses before reductions | .54% | .54%G |
| Expenses net of fee waivers, if any | .54% | .54%G |
| Expenses net of all reductions | .54% | .54%G |
| Net investment income (loss) | 1.25% | 2.03%G |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $428 | $235 |
| Portfolio turnover rateH | 38% | 29%G |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2065 Fund Class Z
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.44 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .15 | .16 |
| Net realized and unrealized gain (loss) | 4.53 | (1.42) |
| Total from investment operations | 4.68 | (1.26) |
| Distributions from net investment income | (.13) | (.17) |
| Distributions from net realized gain | (.29) | (.14) |
| Total distributions | (.42) | (.30)C |
| Net asset value, end of period | $12.70 | $8.44 |
| Total ReturnD | 55.86% | (13.20)% |
| Ratios to Average Net AssetsE,F | | |
| Expenses before reductions | .44% | .44%G |
| Expenses net of fee waivers, if any | .44% | .44%G |
| Expenses net of all reductions | .44% | .44%G |
| Net investment income (loss) | 1.35% | 2.13%G |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $150 | $96 |
| Portfolio turnover rateH | 38% | 29%G |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Fidelity Freedom Blend 2065 Fund Class Z6
| Years ended March 31, | 2021 | 2020 A |
| Selected Per–Share Data | | |
| Net asset value, beginning of period | $8.44 | $10.00 |
| Income from Investment Operations | | |
| Net investment income (loss)B | .16 | .17 |
| Net realized and unrealized gain (loss) | 4.52 | (1.42) |
| Total from investment operations | 4.68 | (1.25) |
| Distributions from net investment income | (.15) | (.17) |
| Distributions from net realized gain | (.29) | (.14) |
| Total distributions | (.43)C | (.31) |
| Net asset value, end of period | $12.69 | $8.44 |
| Total ReturnD | 55.98% | (13.16)% |
| Ratios to Average Net AssetsE,F | | |
| Expenses before reductions | .34% | .34%G |
| Expenses net of fee waivers, if any | .34% | .34%G |
| Expenses net of all reductions | .34% | .34%G |
| Net investment income (loss) | 1.45% | 2.24%G |
| Supplemental Data | | |
| Net assets, end of period (000 omitted) | $267 | $97 |
| Portfolio turnover rateH | 38% | 29%G |
A For the period June 28, 2019 (commencement of operations) to March 31, 2020.
B Calculated based on average shares outstanding during the period.
C Total distributions per share do not sum due to rounding.
D Total returns for periods of less than one year are not annualized.
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
G Annualized
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
See accompanying notes which are an integral part of the financial statements.
Notes to Financial Statements
For the period ended March 31, 2021
1. Organization.
Fidelity Freedom Blend Income Fund, Fidelity Freedom Blend 2005 Fund, Fidelity Freedom Blend 2010 Fund, Fidelity Freedom Blend 2015 Fund, Fidelity Freedom Blend 2020 Fund, Fidelity Freedom Blend 2025 Fund, Fidelity Freedom Blend 2030 Fund, Fidelity Freedom Blend 2035 Fund, Fidelity Freedom Blend 2040 Fund, Fidelity Freedom Blend 2045 Fund, Fidelity Freedom Blend 2050 Fund, Fidelity Freedom Blend 2055 Fund, Fidelity Freedom Blend 2060 Fund and Fidelity Freedom Blend 2065 Fund (the Funds) are funds of Fidelity Aberdeen Street Trust (the Trust). The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware statutory trust. Each Fund is authorized to issue an unlimited number of shares. Each Fund offers Class A, Class M, Class C, Fidelity Freedom Blend, Class K, Class K6, Class I, Class Z and Class Z6 shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. Class C shares will automatically convert to Class A shares after a holding period of ten years from the initial date of purchase, with certain exceptions.
2. Investments in Fidelity Central Funds.
The Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Funds' Schedules of Investments list each of the Fidelity Central Funds held as of period end, if any, as an investment of each Fund, but do not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, each Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
The Money Market Central Funds seek preservation of capital and current income and are managed by the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date ranged from less than .005% to .01%.
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds, which are not covered by the Funds' Report of Independent Registered Public Accounting Firm, are available on the SEC website or upon request.
3. Significant Accounting Policies.
Each Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. Each Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of each Fund:
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Each Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
- Level 1– quoted prices in active markets for identical investments
- Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
- Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value each Fund's investments by major category are as follows. Investments in open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy. The aggregate value of investments by input level as of March 31, 2021 is included at the end of each Fund's Schedule of Investments.
Investment Transactions and Income. For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Income and capital gain distributions from any underlying mutual funds or exchange-traded funds (ETFs) are recorded on the ex-dividend date.
Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of each Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of each Fund. Each class differs with respect to distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of each Fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds (ETFs). Although not included in each Fund's expenses, each Fund indirectly bears its proportionate share of any underlying mutual funds or exchange-traded funds (ETFs) expenses through the impact of these expenses on each underlying mutual fund's or exchange-traded fund's (ETFs) NAV. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Income Tax Information and Distributions to Shareholders. Each year, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. As of March 31, 2021, each Fund did not have any unrecognized tax benefits in the financial statements; nor is each Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. Each Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
Book-tax differences are primarily due to the short-term gain distributions from the Underlying Funds and losses deferred due to wash sales and excise tax regulations.
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows for each Fund:
| | Tax cost | Gross unrealized appreciation | Gross unrealized depreciation | Net unrealized appreciation (depreciation) |
| Fidelity Freedom Blend Income Fund | $58,904,125 | $3,804,934 | $(631,839) | $3,173,095 |
| Fidelity Freedom Blend 2005 Fund | 22,222,683 | 1,625,450 | (250,635) | 1,374,815 |
| Fidelity Freedom Blend 2010 Fund | 74,521,510 | 7,009,059 | (733,798) | 6,275,261 |
| Fidelity Freedom Blend 2015 Fund | 212,147,474 | 24,774,154 | (1,588,031) | 23,186,123 |
| Fidelity Freedom Blend 2020 Fund | 678,003,339 | 90,654,667 | (5,312,369) | 85,342,298 |
| Fidelity Freedom Blend 2025 Fund | 1,031,171,516 | 150,045,165 | (9,478,923) | 140,566,242 |
| Fidelity Freedom Blend 2030 Fund | 1,065,214,092 | 169,071,361 | (9,679,743) | 159,391,618 |
| Fidelity Freedom Blend 2035 Fund | 982,132,416 | 183,810,684 | (8,069,273) | 175,741,411 |
| Fidelity Freedom Blend 2040 Fund | 871,017,896 | 180,560,022 | (5,107,891) | 175,452,131 |
| Fidelity Freedom Blend 2045 Fund | 742,043,479 | 154,613,568 | (4,383,977) | 150,229,591 |
| Fidelity Freedom Blend 2050 Fund | 611,617,429 | 127,967,409 | (3,694,046) | 124,273,363 |
| Fidelity Freedom Blend 2055 Fund | 324,988,991 | 68,958,413 | (2,148,441) | 66,809,972 |
| Fidelity Freedom Blend 2060 Fund | 110,150,739 | 22,504,170 | (841,787) | 21,662,383 |
| Fidelity Freedom Blend 2065 Fund | 11,328,581 | 1,686,506 | (112,975) | 1,573,531 |
The tax-based components of distributable earnings as of period end were as follows for each Fund:
| | Undistributed ordinary income | Undistributed long-term capital gain | Net unrealized appreciation (depreciation) on securities and other investments |
| Fidelity Freedom Blend Income Fund | $70,859 | $644,028 | $3,173,095 |
| Fidelity Freedom Blend 2005 Fund | 61,618 | 252,555 | 1,374,815 |
| Fidelity Freedom Blend 2010 Fund | 126,675 | 1,495,213 | 6,275,261 |
| Fidelity Freedom Blend 2015 Fund | 210,048 | 5,681,961 | 23,186,123 |
| Fidelity Freedom Blend 2020 Fund | 1,085,910 | 17,066,804 | 85,342,298 |
| Fidelity Freedom Blend 2025 Fund | 2,076,336 | 22,028,964 | 140,566,242 |
| Fidelity Freedom Blend 2030 Fund | 2,012,472 | 24,009,224 | 159,391,618 |
| Fidelity Freedom Blend 2035 Fund | 1,240,228 | 24,618,620 | 175,741,411 |
| Fidelity Freedom Blend 2040 Fund | 1,020,659 | 23,612,521 | 175,452,131 |
| Fidelity Freedom Blend 2045 Fund | 751,537 | 20,320,926 | 150,229,591 |
| Fidelity Freedom Blend 2050 Fund | 676,011 | 16,255,240 | 124,273,363 |
| Fidelity Freedom Blend 2055 Fund | 328,033 | 8,561,823 | 66,809,972 |
| Fidelity Freedom Blend 2060 Fund | 83,853 | 2,681,942 | 21,662,383 |
| Fidelity Freedom Blend 2065 Fund | 6,774 | 207,575 | 1,573,531 |
Certain of the Funds intend to elect to defer to the next fiscal year ordinary losses recognized during the period November 1, 2020 to March 31, 2021. Loss deferrals were as follows:
| | Ordinary losses |
| Fidelity Freedom Blend 2040 Fund | $402,597 |
| Fidelity Freedom Blend 2045 Fund | 343,930 |
| Fidelity Freedom Blend 2050 Fund | 284,185 |
| Fidelity Freedom Blend 2055 Fund | 151,603 |
| Fidelity Freedom Blend 2060 Fund | 53,339 |
| Fidelity Freedom Blend 2065 Fund | 7,171 |
The tax character of distributions paid was as follows:
| March 31, 2021 | | | |
| | Ordinary Income | Long-term Capital Gains | Total |
| Fidelity Freedom Blend Income Fund | $1,096,757 | $430,922 | $1,527,679 |
| Fidelity Freedom Blend 2005 Fund | 410,221 | 238,471 | 648,692 |
| Fidelity Freedom Blend 2010 Fund | 1,665,385 | 1,059,769 | 2,725,154 |
| Fidelity Freedom Blend 2015 Fund | 4,898,725 | 4,551,089 | 9,449,814 |
| Fidelity Freedom Blend 2020 Fund | 15,076,422 | 16,432,190 | 31,508,612 |
| Fidelity Freedom Blend 2025 Fund | 21,577,088 | 23,488,125 | 45,065,213 |
| Fidelity Freedom Blend 2030 Fund | 22,072,830 | 26,511,497 | 48,584,327 |
| Fidelity Freedom Blend 2035 Fund | 19,379,849 | 28,656,374 | 48,036,223 |
| Fidelity Freedom Blend 2040 Fund | 15,906,663 | 27,660,206 | 43,566,869 |
| Fidelity Freedom Blend 2045 Fund | 13,644,027 | 23,508,137 | 37,152,164 |
| Fidelity Freedom Blend 2050 Fund | 11,154,730 | 18,415,981 | 29,570,711 |
| Fidelity Freedom Blend 2055 Fund | 5,894,331 | 8,948,161 | 14,842,492 |
| Fidelity Freedom Blend 2060 Fund | 1,807,397 | 2,524,154 | 4,331,551 |
| Fidelity Freedom Blend 2065 Fund | 137,655 | 146,493 | 284,148 |
| March 31, 2020 | | | |
| | Ordinary Income | Long-term Capital Gains | Total |
| Fidelity Freedom Blend Income Fund | $766,290 | $72,005 | $838,295 |
| Fidelity Freedom Blend 2005 Fund | 303,065 | 51,664 | 354,729 |
| Fidelity Freedom Blend 2010 Fund | 1,210,596 | 233,479 | 1,444,075 |
| Fidelity Freedom Blend 2015 Fund | 4,259,540 | 1,094,695 | 5,354,235 |
| Fidelity Freedom Blend 2020 Fund | 12,956,260 | 3,936,430 | 16,892,690 |
| Fidelity Freedom Blend 2025 Fund | 16,691,273 | 5,575,537 | 22,266,810 |
| Fidelity Freedom Blend 2030 Fund | 16,431,474 | 6,424,713 | 22,856,187 |
| Fidelity Freedom Blend 2035 Fund | 15,395,850 | 7,647,885 | 23,043,735 |
| Fidelity Freedom Blend 2040 Fund | 12,750,679 | 7,425,385 | 20,176,064 |
| Fidelity Freedom Blend 2045 Fund | 10,723,027 | 6,314,951 | 17,037,978 |
| Fidelity Freedom Blend 2050 Fund | 7,953,134 | 4,553,711 | 12,506,845 |
| Fidelity Freedom Blend 2055 Fund | 3,338,678 | 1,766,809 | 5,105,487 |
| Fidelity Freedom Blend 2060 Fund | 756,662 | 375,346 | 1,132,008 |
| Fidelity Freedom Blend 2065 Fund(a) | 27,477 | 15,520 | 42,997 |
(a) For the period June 28, 2019 (commencement of operations) to March 31, 2020.
4. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, are noted in the table below.
| | Purchases ($) | Sales ($) |
| Fidelity Freedom Blend Income Fund | 41,118,241 | 26,946,365 |
| Fidelity Freedom Blend 2005 Fund | 15,912,414 | 9,115,383 |
| Fidelity Freedom Blend 2010 Fund | 39,769,636 | 27,224,667 |
| Fidelity Freedom Blend 2015 Fund | 109,338,974 | 95,653,736 |
| Fidelity Freedom Blend 2020 Fund | 346,497,421 | 253,721,715 |
| Fidelity Freedom Blend 2025 Fund | 563,363,641 | 297,001,240 |
| Fidelity Freedom Blend 2030 Fund | 588,320,186 | 290,961,486 |
| Fidelity Freedom Blend 2035 Fund | 506,787,091 | 245,892,613 |
| Fidelity Freedom Blend 2040 Fund | 397,349,058 | 180,653,082 |
| Fidelity Freedom Blend 2045 Fund | 342,802,924 | 158,254,841 |
| Fidelity Freedom Blend 2050 Fund | 291,512,889 | 118,948,564 |
| Fidelity Freedom Blend 2055 Fund | 172,012,708 | 62,303,298 |
| Fidelity Freedom Blend 2060 Fund | 69,579,652 | 19,858,613 |
| Fidelity Freedom Blend 2065 Fund | 10,882,166 | 2,551,578 |
5. Fees and Other Transactions with Affiliates.
Management Fee and Expense Contract. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Funds with investment management related services. Under the management contract, each Class of each Fund pays a monthly management fee that is set at an annual rate by referring to each Fund's target date, indicated by its name, such that the management fee rate applicable to each Class of each Fund is reduced as the fund approaches, and then passes, its target date. In addition, under the management contract, the investment adviser pays all ordinary operating expenses of each Fund, except distribution and service plan fees, fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses. For the reporting period, the total annual management fee rate for each Class of each Fund was as follows:
| | Annual % of Class-Level Average Net Assets (Classes A, M, C, I, Fidelity Freedom Blend Class) | Annual % of Class-Level Average Net Assets
(Classes K, K6, Z, Z6) |
| Fidelity Freedom Blend Income Fund | .46% | .36% |
| Fidelity Freedom Blend 2005 Fund | .46% | .36% |
| Fidelity Freedom Blend 2010 Fund | .47% | .37% |
| Fidelity Freedom Blend 2015 Fund | .48% | .38% |
| Fidelity Freedom Blend 2020 Fund | .49% | .39% |
| Fidelity Freedom Blend 2025 Fund | .51% | .41% |
| Fidelity Freedom Blend 2030 Fund | .52% | .42% |
| Fidelity Freedom Blend 2035 Fund | .53% | .43% |
| Fidelity Freedom Blend 2040 Fund | .54% | .44% |
| Fidelity Freedom Blend 2045 Fund | .54% | .44% |
| Fidelity Freedom Blend 2050 Fund | .54% | .44% |
| Fidelity Freedom Blend 2055 Fund | .54% | .44% |
| Fidelity Freedom Blend 2060 Fund | .54% | .44% |
| Fidelity Freedom Blend 2065 Fund | .54% | .44% |
Under the expense contract, the investment adviser pays class-level expenses for Class K6 and Class Z6 of each Fund as necessary so that Class K6 and Class Z6 total expenses do not exceed certain amounts of Class K6 and Class Z6 average net assets, respectively, on an annual basis with certain exceptions, as noted in the following table:
| | Annual % of Class-Level Average Net Assets (Classes K6, Z6) |
| Fidelity Freedom Blend Income Fund | .26% |
| Fidelity Freedom Blend 2005 Fund | .26% |
| Fidelity Freedom Blend 2010 Fund | .27% |
| Fidelity Freedom Blend 2015 Fund | .28% |
| Fidelity Freedom Blend 2020 Fund | .29% |
| Fidelity Freedom Blend 2025 Fund | .31% |
| Fidelity Freedom Blend 2030 Fund | .32% |
| Fidelity Freedom Blend 2035 Fund | .33% |
| Fidelity Freedom Blend 2040 Fund | .34% |
| Fidelity Freedom Blend 2045 Fund | .34% |
| Fidelity Freedom Blend 2050 Fund | .34% |
| Fidelity Freedom Blend 2055 Fund | .34% |
| Fidelity Freedom Blend 2060 Fund | .34% |
| Fidelity Freedom Blend 2065 Fund | .34% |
Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, each Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Company LLC (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of each Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:
| | Distribution Fee | Service Fee | Total Fees | Retained by FDC |
| Fidelity Freedom Blend Income Fund | | | | |
| Class A | -% | .25% | $3,230 | $302 |
| Class M | .25% | .25% | 908 | 479 |
| Class C | .75% | .25% | 5,192 | 1,271 |
| | | | $9,330 | $2,052 |
| Fidelity Freedom Blend 2005 Fund | | | | |
| Class A | -% | .25% | $741 | $284 |
| Class M | .25% | .25% | 654 | 560 |
| Class C | .75% | .25% | 2,924 | 1,286 |
| | | | $4,319 | $2,130 |
| Fidelity Freedom Blend 2010 Fund | | | | |
| Class A | -% | .25% | $1,811 | $209 |
| Class M | .25% | .25% | 1,745 | 566 |
| Class C | .75% | .25% | 2,045 | 1,663 |
| | | | $5,601 | $2,438 |
| Fidelity Freedom Blend 2015 Fund | | | | |
| Class A | -% | .25% | $1,482 | $183 |
| Class M | .25% | .25% | 1,069 | 556 |
| Class C | .75% | .25% | 6,920 | 5,560 |
| | | | $9,471 | $6,299 |
| Fidelity Freedom Blend 2020 Fund | | | | |
| Class A | -% | .25% | $5,913 | $254 |
| Class M | .25% | .25% | 3,314 | 844 |
| Class C | .75% | .25% | 8,131 | 2,700 |
| | | | $17,358 | $3,798 |
| Fidelity Freedom Blend 2025 Fund | | | | |
| Class A | -% | .25% | $7,099 | $392 |
| Class M | .25% | .25% | 7,548 | 425 |
| Class C | .75% | .25% | 9,818 | 4,478 |
| | | | $24,465 | $5,295 |
| Fidelity Freedom Blend 2030 Fund | | | | |
| Class A | -% | .25% | $7,654 | $543 |
| Class M | .25% | .25% | 7,599 | 660 |
| Class C | .75% | .25% | 23,477 | 12,264 |
| | | | $38,730 | $13,467 |
| Fidelity Freedom Blend 2035 Fund | | | | |
| Class A | -% | .25% | $3,924 | $286 |
| Class M | .25% | .25% | 3,200 | 534 |
| Class C | .75% | .25% | 8,540 | 4,091 |
| | | | $15,664 | $4,911 |
| Fidelity Freedom Blend 2040 Fund | | | | |
| Class A | -% | .25% | $4,257 | $307 |
| Class M | .25% | .25% | 2,992 | 518 |
| Class C | .75% | .25% | 10,000 | 4,198 |
| | | | $17,249 | $5,023 |
| Fidelity Freedom Blend 2045 Fund | | | | |
| Class A | -% | .25% | $3,465 | $361 |
| Class M | .25% | .25% | 7,330 | 522 |
| Class C | .75% | .25% | 7,800 | 4,728 |
| | | | $18,595 | $5,611 |
| Fidelity Freedom Blend 2050 Fund | | | | |
| Class A | -% | .25% | $3,350 | $357 |
| Class M | .25% | .25% | 2,532 | 545 |
| Class C | .75% | .25% | 7,365 | 5,408 |
| | | | $13,247 | $6,310 |
| Fidelity Freedom Blend 2055 Fund | | | | |
| Class A | -% | .25% | $2,238 | $386 |
| Class M | .25% | .25% | 2,324 | 718 |
| Class C | .75% | .25% | 2,747 | 2,119 |
| | | | $7,309 | $3,223 |
| Fidelity Freedom Blend 2060 Fund | | | | |
| Class A | -% | .25% | $2,193 | $320 |
| Class M | .25% | .25% | 1,462 | 583 |
| Class C | .75% | .25% | 3,652 | 2,809 |
| | | | $7,307 | $3,712 |
| Fidelity Freedom Blend 2065 Fund | | | | |
| Class A | -% | .25% | $696 | $320 |
| Class M | .25% | .25% | 1,355 | 625 |
| Class C | .75% | .25% | 2,529 | 2,223 |
| | | | $4,580 | $3,168 |
Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class M shares, some of which is paid to financial intermediaries for selling shares of each Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class M and Class C redemptions. The deferred sales charges are 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class M shares.
For the period, sales charge amounts retained by FDC were as follows:
| | Retained by FDC |
| Fidelity Freedom Blend Income Fund | |
| Class A | $554 |
| Class M | 49 |
| Class C(a) | 100 |
| | $703 |
| Fidelity Freedom Blend 2005 Fund | |
| Class A | $289 |
| Class M | 60 |
| Class C(a) | 4 |
| | $353 |
| Fidelity Freedom Blend 2010 Fund | |
| Class A | $291 |
| Class M | 6 |
| | $297 |
| Fidelity Freedom Blend 2015 Fund | |
| Class A | $62 |
| Class M | 9 |
| | $71 |
| Fidelity Freedom Blend 2020 Fund | |
| Class A | $503 |
| Class M | 762 |
| Class C(a) | 192 |
| | $1,457 |
| Fidelity Freedom Blend 2025 Fund | |
| Class A | $3,965 |
| Class M | 868 |
| Class C(a) | 216 |
| | $5,049 |
| Fidelity Freedom Blend 2030 Fund | |
| Class A | $3,802 |
| Class M | 954 |
| Class C(a) | 409 |
| | $5,165 |
| Fidelity Freedom Blend 2035 Fund | |
| Class A | $2,928 |
| Class M | 953 |
| Class C(a) | 256 |
| | $4,137 |
| Fidelity Freedom Blend 2040 Fund | |
| Class A | $3,886 |
| Class M | 575 |
| Class C(a) | 176 |
| | $4,637 |
| Fidelity Freedom Blend 2045 Fund | |
| Class A | $4,513 |
| Class M | 572 |
| Class C(a) | 97 |
| | $5,182 |
| Fidelity Freedom Blend 2050 Fund | |
| Class A | $4,229 |
| Class M | 1,292 |
| Class C(a) | 1,278 |
| | $6,799 |
| Fidelity Freedom Blend 2055 Fund | |
| Class A | $2,665 |
| Class M | 1,302 |
| Class C(a) | 504 |
| | $4,471 |
| Fidelity Freedom Blend 2060 Fund | |
| Class A | $3,080 |
| Class M | 745 |
| Class C(a) | 58 |
| | $3,883 |
| Fidelity Freedom Blend 2065 Fund | |
| Class A | $668 |
| Class M | 191 |
| Class C(a) | 20 |
| | $879 |
(a) When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.
6. Expense Reductions.
Through arrangements with each applicable Fund's custodian and each class' transfer agent, credits realized as a result of certain uninvested cash balances were used to reduce each applicable Fund's or class' expenses. All of the applicable expense reductions are noted in the table below.
| | Custodian credits | Transfer Agent credits |
| Fidelity Freedom Blend Income Fund | | |
| Class M | $– | $ 4 |
| | $– | $ 4 |
| Fidelity Freedom Blend 2010 Fund | | |
| Class A | $– | $ 1 |
| | $– | $ 1 |
| Fidelity Freedom Blend 2020 Fund | | |
| Class A | $– | $11 |
| Class C | – | 107 |
| Class K6 | 4 | – |
| | $4 | $118 |
| Fidelity Freedom Blend 2025 Fund | | |
| Class C | $– | $9 |
| | $– | $9 |
| Fidelity Freedom Blend 2030 Fund | | |
| Class M | $– | $13
|
| Class C | – | 20 |
| Class K6 | 3 | – |
| | $3 | $33 |
| Fidelity Freedom Blend 2035 Fund | | |
| Class A | $– | $ 61 |
| | $– | $ 61 |
| Fidelity Freedom Blend 2045 Fund | | |
| Class M | $– | $ 1 |
| | $– | $ 1 |
| Fidelity Freedom Blend 2050 Fund | | |
| Class C | $– | $5 |
| | $– | $ 5 |
| Fidelity Freedom Blend 2060 Fund | | |
| Class A | $– | $ 1 |
| | $– | $ 1 |
7. Distributions to Shareholders.
Distributions to shareholders of each class were as follows:
| | Year ended
March 31, 2021 | Year ended
March 31, 2020 |
| Fidelity Freedom Blend Income Fund | | |
| Distributions to shareholders | | |
| Class A | $30,789 | $8,738 |
| Class M | 3,747 | 5,135 |
| Class C | 12,679 | 2,540 |
| Fidelity Freedom Blend Income Fund | 113,118 | 32,325 |
| Class K | 12,402 | 6,526 |
| Class K6 | 1,312,353 | 775,252 |
| Class I | 16,047 | 2,636 |
| Class Z | 21,786 | 2,493 |
| Class Z6 | 4,758 | 2,650 |
| Total | $1,527,679 | $838,295 |
| Fidelity Freedom Blend 2005 Fund | | |
| Distributions to shareholders | | |
| Class A | $6,978 | $5,423 |
| Class M | 3,090 | 1,990 |
| Class C | 7,183 | 2,254 |
| Fidelity Freedom Blend 2005 Fund | 50,201 | 23,445 |
| Class K | 15,146 | 3,270 |
| Class K6 | 530,391 | 300,610 |
| Class I | 27,076 | 12,666 |
| Class Z | 4,905 | 2,484 |
| Class Z6 | 3,722 | 2,587 |
| Total | $648,692 | $354,729 |
| Fidelity Freedom Blend 2010 Fund | | |
| Distributions to shareholders | | |
| Class A | $26,980 | $4,117 |
| Class M | 10,695 | 3,946 |
| Class C | 6,665 | 2,008 |
| Fidelity Freedom Blend 2010 Fund | 134,742 | 36,055 |
| Class K | 259,643 | 166,144 |
| Class K6 | 2,224,771 | 1,219,643 |
| Class I | 27,543 | 7,112 |
| Class Z | 5,353 | 2,427 |
| Class Z6 | 28,762 | 2,623 |
| Total | $2,725,154 | $1,444,075 |
| Fidelity Freedom Blend 2015 Fund | | |
| Distributions to shareholders | | |
| Class A | $24,467 | $10,755 |
| Class M | 6,554 | 2,598 |
| Class C | 23,534 | 3,226 |
| Fidelity Freedom Blend 2015 Fund | 416,022 | 138,729 |
| Class K | 238,094 | 159,590 |
| Class K6 | 8,475,902 | 4,932,297 |
| Class I | 197,917 | 95,191 |
| Class Z | 4,851 | 2,853 |
| Class Z6 | 62,473 | 8,996 |
| Total | $9,449,814 | $5,354,235 |
| Fidelity Freedom Blend 2020 Fund | | |
| Distributions to shareholders | | |
| Class A | $116,447 | $52,542 |
| Class M | 26,115 | 4,631 |
| Class C | 32,784 | 13,577 |
| Fidelity Freedom Blend 2020 Fund | 1,223,012 | 229,606 |
| Class K | 1,178,680 | 809,512 |
| Class K6 | 28,438,532 | 15,685,257 |
| Class I | 366,060 | 88,112 |
| Class Z | 6,540 | 3,071 |
| Class Z6 | 120,442 | 6,382 |
| Total | $31,508,612 | $16,892,690 |
| Fidelity Freedom Blend 2025 Fund | | |
| Distributions to shareholders | | |
| Class A | $135,485 | $40,279 |
| Class M | 53,311 | 8,783 |
| Class C | 35,148 | 11,457 |
| Fidelity Freedom Blend 2025 Fund | 1,520,063 | 213,672 |
| Class K | 1,328,142 | 799,085 |
| Class K6 | 40,753,859 | 21,003,005 |
| Class I | 959,802 | 174,303 |
| Class Z | 5,255 | 3,260 |
| Class Z6 | 274,148 | 12,966 |
| Total | $45,065,213 | $22,266,810 |
| Fidelity Freedom Blend 2030 Fund | | |
| Distributions to shareholders | | |
| Class A | $168,878 | $34,389 |
| Class M | 68,058 | 19,154 |
| Class C | 101,064 | 12,929 |
| Fidelity Freedom Blend 2030 Fund | 1,199,509 | 162,703 |
| Class K | 1,307,651 | 769,504 |
| Class K6 | 44,309,572 | 21,676,270 |
| Class I | 1,140,293 | 159,078 |
| Class Z | 9,907 | 3,705 |
| Class Z6 | 279,395 | 18,455 |
| Total | $48,584,327 | $22,856,187 |
| Fidelity Freedom Blend 2035 Fund | | |
| Distributions to shareholders | | |
| Class A | $81,391 | $32,283 |
| Class M | 43,152 | 8,010 |
| Class C | 42,230 | 8,721 |
| Fidelity Freedom Blend 2035 Fund | 1,387,579 | 134,952 |
| Class K | 1,034,516 | 598,323 |
| Class K6 | 44,547,977 | 22,128,385 |
| Class I | 666,837 | 113,319 |
| Class Z | 15,254 | 9,587 |
| Class Z6 | 217,287 | 10,155 |
| Total | $48,036,223 | $23,043,735 |
| Fidelity Freedom Blend 2040 Fund | | |
| Distributions to shareholders | | |
| Class A | $90,051 | $19,594 |
| Class M | 29,927 | 5,585 |
| Class C | 49,879 | 10,160 |
| Fidelity Freedom Blend 2040 Fund | 1,266,304 | 121,223 |
| Class K | 883,718 | 516,568 |
| Class K6 | 40,625,180 | 19,412,655 |
| Class I | 480,886 | 81,386 |
| Class Z | 6,183 | 3,583 |
| Class Z6 | 134,741 | 5,310 |
| Total | $43,566,869 | $20,176,064 |
| Fidelity Freedom Blend 2045 Fund | | |
| Distributions to shareholders | | |
| Class A | $70,620 | $27,494 |
| Class M | 72,607 | 7,045 |
| Class C | 41,341 | 6,265 |
| Fidelity Freedom Blend 2045 Fund | 911,956 | 68,591 |
| Class K | 886,361 | 461,012 |
| Class K6 | 34,613,340 | 16,369,836 |
| Class I | 428,586 | 88,782 |
| Class Z | 6,722 | 3,619 |
| Class Z6 | 120,631 | 5,334 |
| Total | $37,152,164 | $17,037,978 |
| Fidelity Freedom Blend 2050 Fund | | |
| Distributions to shareholders | | |
| Class A | $68,023�� | $19,819 |
| Class M | 24,168 | 8,625 |
| Class C | 34,540 | 9,876 |
| Fidelity Freedom Blend 2050 Fund | 964,286 | 60,239 |
| Class K | 486,658 | 308,941 |
| Class K6 | 27,519,027 | 11,994,804 |
| Class I | 294,662 | 96,721 |
| Class Z | 6,016 | 3,453 |
| Class Z6 | 173,331 | 4,367 |
| Total | $29,570,711 | $12,506,845 |
| Fidelity Freedom Blend 2055 Fund | | |
| Distributions to shareholders | | |
| Class A | $48,263 | $11,061 |
| Class M | 23,005 | 4,435 |
| Class C | 12,302 | 4,029 |
| Fidelity Freedom Blend 2055 Fund | 475,289 | 22,905 |
| Class K | 296,213 | 153,497 |
| Class K6 | 13,744,285 | 4,851,113 |
| Class I | 156,276 | 50,084 |
| Class Z | 5,718 | 3,207 |
| Class Z6 | 81,141 | 5,156 |
| Total | $14,842,492 | $5,105,487 |
| Fidelity Freedom Blend 2060 Fund | | |
| Distributions to shareholders | | |
| Class A | $38,825 | $12,880 |
| Class M | 13,370 | 4,107 |
| Class C | 14,892 | 4,470 |
| Fidelity Freedom Blend 2060 Fund | 215,485 | 29,908 |
| Class K | 81,145 | 38,953 |
| Class K6 | 3,843,006 | 1,010,306 |
| Class I | 78,938 | 25,016 |
| Class Z | 5,263 | 3,118 |
| Class Z6 | 40,627 | 3,250 |
| Total | $4,331,551 | $1,132,008 |
| Fidelity Freedom Blend 2065 Fund | | |
| Distributions to shareholders(a) | | |
| Class A | $10,963 | $4,538 |
| Class M | 9,480 | 3,736 |
| Class C | 7,987 | 4,126 |
| Fidelity Freedom Blend 2065 Fund | 39,047 | 7,111 |
| Class K | 6,950 | 3,966 |
| Class K6 | 188,061 | 9,439 |
| Class I | 8,712 | 3,337 |
| Class Z | 4,765 | 3,344 |
| Class Z6 | 8,183 | 3,400 |
| Total | $284,148 | $42,997 |
(a) For the period June 28, 2019 (commencement of operations) to March 31, 2020.
8. Share Transactions.
Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between affiliated funds:
| | Shares | Shares | Dollars | Dollars |
| | Year ended March 31, 2021 | Year ended March 31, 2020(a) | Year ended March 31, 2021 | Year ended March 31, 2020(a) |
| Fidelity Freedom Blend Income Fund | | | | |
| Class A | | | | |
| Shares sold | 85,072 | 62,555 | $895,089 | $638,682 |
| Reinvestment of distributions | 2,837 | 843 | 30,789 | 8,738 |
| Shares redeemed | (27,679) | (3,991) | (301,591) | (40,199) |
| Net increase (decrease) | 60,230 | 59,407 | $624,287 | $607,221 |
| Class M | | | | |
| Shares sold | 1,969 | 26,230 | $20,671 | $269,516 |
| Reinvestment of distributions | 345 | 495 | 3,747 | 5,135 |
| Shares redeemed | (35) | (21,272) | (389) | (214,074) |
| Net increase (decrease) | 2,279 | 5,453 | $24,029 | $60,577 |
| Class C | | | | |
| Shares sold | 56,293 | 12,316 | $600,861 | $127,258 |
| Reinvestment of distributions | 1,165 | 245 | 12,679 | 2,540 |
| Shares redeemed | (14,842) | (1,986) | (160,615) | (20,608) |
| Net increase (decrease) | 42,616 | 10,575 | $452,925 | $109,190 |
| Fidelity Freedom Blend Income Fund | | | | |
| Shares sold | 720,200 | 422,104 | $7,812,819 | $4,378,184 |
| Reinvestment of distributions | 10,407 | 3,109 | 112,904 | 32,325 |
| Shares redeemed | (457,220) | (189,533) | (4,972,335) | (1,961,292) |
| Net increase (decrease) | 273,387 | 235,680 | $2,953,388 | $2,449,217 |
| Class K | | | | |
| Shares sold | 24,778 | 29,755 | $271,629 | $309,910 |
| Reinvestment of distributions | 1,147 | 628 | 12,402 | 6,526 |
| Shares redeemed | (14,810) | (113) | (158,783) | (1,186) |
| Net increase (decrease) | 11,115 | 30,270 | $125,248 | $315,250 |
| Class K6 | | | | |
| Shares sold | 2,512,373 | 4,799,951 | $26,898,262 | $48,890,496 |
| Reinvestment of distributions | 121,385 | 74,806 | 1,312,353 | 775,252 |
| Shares redeemed | (1,845,091) | (1,147,013) | (19,920,222) | (11,817,975) |
| Net increase (decrease) | 788,667 | 3,727,744 | $8,290,393 | $37,847,773 |
| Class I | | | | |
| Shares sold | 49,310 | 15,112 | $533,513 | $157,824 |
| Reinvestment of distributions | 1,472 | 254 | 16,047 | 2,636 |
| Shares redeemed | (6,511) | (1,325) | (71,189) | (13,883) |
| Net increase (decrease) | 44,271 | 14,041 | $478,371 | $146,577 |
| Class Z | | | | |
| Shares sold | 112,876 | – | $1,215,647 | $– |
| Reinvestment of distributions | 421 | 241 | 4,569 | 2,493 |
| Shares redeemed | (29,867) | – | (322,845) | – |
| Net increase (decrease) | 83,430 | 241 | $897,371 | $2,493 |
| Class Z6 | | | | |
| Shares sold | 7,516 | 5,361 | $82,200 | $56,499 |
| Reinvestment of distributions | 440 | 256 | 4,758 | 2,650 |
| Shares redeemed | (5,474) | (379) | (57,647) | (3,907) |
| Net increase (decrease) | 2,482 | 5,238 | $29,311 | $55,242 |
| Fidelity Freedom Blend 2005 Fund | | | | |
| Class A | | | | |
| Shares sold | 11,747 | 11,122 | $128,608 | $112,530 |
| Reinvestment of distributions | 646 | 521 | 6,978 | 5,423 |
| Shares redeemed | (7,183) | (3,711) | (77,499) | (36,690) |
| Net increase (decrease) | 5,210 | 7,932 | $58,087 | $81,263 |
| Class M | | | | |
| Shares sold | 2,161 | 4,369 | $22,948 | $45,522 |
| Reinvestment of distributions | 284 | 191 | 3,090 | 1,990 |
| Shares redeemed | – | (3,754) | – | (37,013) |
| Net increase (decrease) | 2,445 | 806 | $26,038 | $10,499 |
| Class C | | | | |
| Shares sold | 13,733 | 16,140 | $147,756 | $161,085 |
| Reinvestment of distributions | 667 | 217 | 7,183 | 2,254 |
| Shares redeemed | (11,205) | (419) | (121,070) | (4,103) |
| Net increase (decrease) | 3,195 | 15,938 | $33,869 | $159,236 |
| Fidelity Freedom Blend 2005 Fund | | | | |
| Shares sold | 127,898 | 279,891 | $1,391,257 | $2,857,879 |
| Reinvestment of distributions | 4,538 | 2,253 | 49,375 | 23,445 |
| Shares redeemed | (62,564) | (179,100) | (683,181) | (1,816,731) |
| Net increase (decrease) | 69,872 | 103,044 | $757,451 | $1,064,593 |
| Class K | | | | |
| Shares sold | 43,370 | 7,581 | $466,117 | $76,209 |
| Reinvestment of distributions | 1,381 | 314 | 15,146 | 3,270 |
| Shares redeemed | (21,238) | (21) | (229,590) | (201) |
| Net increase (decrease) | 23,513 | 7,874 | $251,673 | $79,278 |
| Class K6 | | | | |
| Shares sold | 1,007,042 | 1,882,369 | $10,781,619 | $19,120,279 |
| Reinvestment of distributions | 48,741 | 28,850 | 530,391 | 300,610 |
| Shares redeemed | (540,452) | (813,267) | (5,869,921) | (8,297,598) |
| Net increase (decrease) | 515,331 | 1,097,952 | $5,442,089 | $11,123,291 |
| Class I | | | | |
| Shares sold | 36,211 | 61,852 | $392,567 | $643,522 |
| Reinvestment of distributions | 2,495 | 1,215 | 27,076 | 12,666 |
| Shares redeemed | (31,471) | (3,132) | (338,148) | (32,974) |
| Net increase (decrease) | 7,235 | 59,935 | $81,495 | $623,214 |
| Class Z | | | | |
| Shares sold | 20,032 | – | $216,014 | $– |
| Reinvestment of distributions | 316 | 238 | 3,424 | 2,484 |
| Shares redeemed | (14,131) | – | (154,976) | – |
| Net increase (decrease) | 6,217 | 238 | $64,462 | $2,484 |
| Class Z6 | | | | |
| Shares sold | 108 | 448 | $1,179 | $4,680 |
| Reinvestment of distributions | 343 | 248 | 3,722 | 2,587 |
| Shares redeemed | (4) | (1) | (40) | (7) |
| Net increase (decrease) | 447 | 695 | $4,861 | $7,260 |
| Fidelity Freedom Blend 2010 Fund | | | | |
| Class A | | | | |
| Shares sold | 71,441 | 5,025 | $738,761 | $50,531 |
| Reinvestment of distributions | 2,486 | 394 | 26,980 | 4,117 |
| Shares redeemed | (10,349) | (2,458) | (111,790) | (22,933) |
| Net increase (decrease) | 63,578 | 2,961 | $653,951 | $31,715 |
| Class M | | | | |
| Shares sold | 8,968 | 16,393 | $93,882 | $168,719 |
| Reinvestment of distributions | 984 | 378 | 10,695 | 3,946 |
| Shares redeemed | (2,943) | (2,618) | (32,780) | (24,213) |
| Net increase (decrease) | 7,009 | 14,153 | $71,797 | $148,452 |
| Class C | | | | |
| Shares sold | 14,178 | 1,860 | $150,459 | $19,065 |
| Reinvestment of distributions | 608 | 192 | 6,665 | 2,008 |
| Shares redeemed | (5,476) | – | (59,005) | – |
| Net increase (decrease) | 9,310 | 2,052 | $98,119 | $21,073 |
| Fidelity Freedom Blend 2010 Fund | | | | |
| Shares sold | 325,624 | 347,271 | $3,507,420 | $3,601,555 |
| Reinvestment of distributions | 12,315 | 3,451 | 134,742 | 36,055 |
| Shares redeemed | (164,241) | (137,893) | (1,818,468) | (1,430,093) |
| Net increase (decrease) | 173,698 | 212,829 | $1,823,694 | $2,207,517 |
| Class K | | | | |
| Shares sold | 47,839 | 659,888 | $532,618 | $6,824,771 |
| Reinvestment of distributions | 23,846 | 15,884 | 259,643 | 166,144 |
| Shares redeemed | (37,609) | (32,064) | (397,419) | (329,148) |
| Net increase (decrease) | 34,076 | 643,708 | $394,842 | $6,661,767 |
| Class K6 | | | | |
| Shares sold | 1,820,261 | 6,005,660 | $19,267,788 | $60,620,115 |
| Reinvestment of distributions | 203,724 | 116,622 | 2,224,771 | 1,219,643 |
| Shares redeemed | (1,225,461) | (1,315,490) | (13,344,262) | (13,382,189) |
| Net increase (decrease) | 798,524 | 4,806,792 | $8,148,297 | $48,457,569 |
| Class I | | | | |
| Shares sold | 48,941 | 37,258 | $512,741 | $387,686 |
| Reinvestment of distributions | 2,523 | 680 | 27,543 | 7,112 |
| Shares redeemed | (16,872) | (1,271) | (183,765) | (13,355) |
| Net increase (decrease) | 34,592 | 36,667 | $356,519 | $381,443 |
| Class Z | | | | |
| Shares sold | 11,151 | – | $124,418 | $– |
| Reinvestment of distributions | 390 | 232 | 4,254 | 2,427 |
| Net increase (decrease) | 11,541 | 232 | $128,672 | $2,427 |
| Class Z6 | | | | |
| Shares sold | 66,542 | 33,688 | $724,009 | $356,908 |
| Reinvestment of distributions | 2,600 | 250 | 28,762 | 2,623 |
| Shares redeemed | (20,319) | (14,537) | (230,458) | (152,360) |
| Net increase (decrease) | 48,823 | 19,401 | $522,313 | $207,171 |
| Fidelity Freedom Blend 2015 Fund | | | | |
| Class A | | | | |
| Shares sold | 22,780 | 28,250 | $225,650 | $293,223 |
| Reinvestment of distributions | 2,247 | 837 | 24,467 | 8,766 |
| Shares redeemed | (6,595) | (12,078) | (72,394) | (114,023) |
| Net increase (decrease) | 18,432 | 17,009 | $177,723 | $187,966 |
| Class M | | | | |
| Shares sold | 49,411 | 889 | $563,497 | $9,027 |
| Reinvestment of distributions | 596 | 248 | 6,554 | 2,598 |
| Shares redeemed | (18) | – | (203) | – |
| Net increase (decrease) | 49,989 | 1,137 | $569,848 | $11,625 |
| Class C | | | | |
| Shares sold | 18,999 | 36,356 | $190,458 | $359,968 |
| Reinvestment of distributions | 2,168 | 309 | 23,534 | 3,226 |
| Shares redeemed | (3,300) | (1,494) | (36,390) | (15,824) |
| Net increase (decrease) | 17,867 | 35,171 | $177,602 | $347,370 |
| Fidelity Freedom Blend 2015 Fund | | | | |
| Shares sold | 1,030,787 | 1,342,090 | $11,403,444 | $13,848,094 |
| Reinvestment of distributions | 36,310 | 13,245 | 395,121 | 138,673 |
| Shares redeemed | (906,644) | (508,223) | (9,932,278) | (5,227,808) |
| Net increase (decrease) | 160,453 | 847,112 | $1,866,287 | $8,758,959 |
| Class K | | | | |
| Shares sold | 100,377 | 807,937 | $1,100,701 | $8,362,163 |
| Reinvestment of distributions | 21,979 | 15,228 | 238,094 | 159,590 |
| Shares redeemed | (313,177) | (183,022) | (3,288,291) | (1,891,984) |
| Net increase (decrease) | (190,821) | 640,143 | $(1,949,496) | $6,629,769 |
| Class K6 | | | | |
| Shares sold | 5,034,639 | 19,726,381 | $53,169,125 | $198,186,726 |
| Reinvestment of distributions | 774,488 | 470,564 | 8,475,902 | 4,932,297 |
| Shares redeemed | (4,695,026) | (3,853,351) | (51,315,780) | (39,415,063) |
| Net increase (decrease) | 1,114,101 | 16,343,594 | $10,329,247 | $163,703,960 |
| Class I | | | | |
| Shares sold | 222,844 | 372,907 | $2,306,146 | $3,909,828 |
| Reinvestment of distributions | 18,225 | 9,101 | 197,917 | 95,191 |
| Shares redeemed | (145,309) | (11,553) | (1,592,292) | (114,498) |
| Net increase (decrease) | 95,760 | 370,455 | $911,771 | $3,890,521 |
| Class Z | | | | |
| Reinvestment of distributions | 443 | 272 | $4,851 | $2,853 |
| Net increase (decrease) | 443 | 272 | $4,851 | $2,853 |
| Class Z6 | | | | |
| Shares sold | 115,561 | 77,326 | $1,267,695 | $792,258 |
| Reinvestment of distributions | 5,640 | 858 | 62,473 | 8,996 |
| Shares redeemed | (39,083) | (17,875) | (429,587) | (168,239) |
| Net increase (decrease) | 82,118 | 60,309 | $900,581 | $633,015 |
| Fidelity Freedom Blend 2020 Fund | | | | |
| Class A | | | | |
| Shares sold | 278,275 | 210,830 | $3,089,264 | $2,137,244 |
| Reinvestment of distributions | 10,433 | 4,985 | 116,447 | 52,542 |
| Shares redeemed | (157,237) | (153,051) | (1,763,914) | (1,532,924) |
| Net increase (decrease) | 131,471 | 62,764 | $1,441,797 | $656,862 |
| Class M | | | | |
| Shares sold | 108,998 | 22,771 | $1,232,361 | $238,437 |
| Reinvestment of distributions | 2,328 | 439 | 26,115 | 4,631 |
| Shares redeemed | (16,410) | (5,246) | (186,238) | (51,676) |
| Net increase (decrease) | 94,916 | 17,964 | $1,072,238 | $191,392 |
| Class C | | | | |
| Shares sold | 59,657 | 32,007 | $634,219 | $327,258 |
| Reinvestment of distributions | 2,973 | 1,291 | 32,784 | 13,577 |
| Shares redeemed | (18,186) | (27,669) | (203,010) | (294,717) |
| Net increase (decrease) | 44,444 | 5,629 | $463,993 | $46,118 |
| Fidelity Freedom Blend 2020 Fund | | | | |
| Shares sold | 3,368,825 | 3,071,141 | $37,375,799 | $31,827,871 |
| Reinvestment of distributions | 109,072 | 21,350 | 1,208,398 | 225,245 |
| Shares redeemed | (2,660,472) | (1,155,853) | (29,435,131) | (11,831,997) |
| Net increase (decrease) | 817,425 | 1,936,638 | $9,149,066 | $20,221,119 |
| Class K | | | | |
| Shares sold | 559,013 | 2,837,630 | $6,209,161 | $29,553,993 |
| Reinvestment of distributions | 107,013 | 76,658 | 1,178,680 | 809,512 |
| Shares redeemed | (867,863) | (411,861) | (9,058,786) | (4,345,988) |
| Net increase (decrease) | (201,837) | 2,502,427 | $(1,670,945) | $26,017,517 |
| Class K6 | | | | |
| Shares sold | 18,252,762 | 58,938,931 | $193,645,477 | $593,707,590 |
| Reinvestment of distributions | 2,565,952 | 1,483,753 | 28,438,532 | 15,685,257 |
| Shares redeemed | (13,293,126) | (11,477,811) | (146,192,959) | (117,101,198) |
| Net increase (decrease) | 7,525,588 | 48,944,873 | $75,891,050 | $492,291,649 |
| Class I | | | | |
| Shares sold | 398,942 | 589,216 | $4,260,440 | $6,185,794 |
| Reinvestment of distributions | 33,056 | 8,344 | 366,060 | 88,112 |
| Shares redeemed | (252,106) | (54,803) | (2,772,460) | (521,841) |
| Net increase (decrease) | 179,892 | 542,757 | $1,854,040 | $5,752,065 |
| Class Z | | | | |
| Shares sold | – | 2,526 | $– | $27,000 |
| Reinvestment of distributions | 536 | 290 | 5,929 | 3,071 |
| Net increase (decrease) | 536 | 2,816 | $5,929 | $30,071 |
| Class Z6 | | | | |
| Shares sold | 201,311 | 447,539 | $2,247,340 | $4,712,064 |
| Reinvestment of distributions | 10,815 | 603 | 120,442 | 6,382 |
| Shares redeemed | (82,615) | (266,580) | (937,293) | (2,446,908) |
| Net increase (decrease) | 129,511 | 181,562 | $1,430,489 | $2,271,538 |
| Fidelity Freedom Blend 2025 Fund | | | | |
| Class A | | | | |
| Shares sold | 231,576 | 219,652 | $2,498,355 | $2,222,602 |
| Reinvestment of distributions | 12,116 | 3,840 | 135,485 | 40,279 |
| Shares redeemed | (110,944) | (53,075) | (1,200,049) | (530,975) |
| Net increase (decrease) | 132,748 | 170,417 | $1,433,791 | $1,731,906 |
| Class M | | | | |
| Shares sold | 118,505 | 75,724 | $1,300,045 | $798,244 |
| Reinvestment of distributions | 4,766 | 833 | 53,311 | 8,783 |
| Shares redeemed | (64,126) | (55,530) | (752,618) | (565,093) |
| Net increase (decrease) | 59,145 | 21,027 | $600,738 | $241,934 |
| Class C | | | | |
| Shares sold | 85,736 | 32,708 | $896,555 | $320,136 |
| Reinvestment of distributions | 3,178 | 1,095 | 35,148 | 11,457 |
| Shares redeemed | (31,717) | (12,041) | (343,248) | (121,855) |
| Net increase (decrease) | 57,197 | 21,762 | $588,455 | $209,738 |
| Fidelity Freedom Blend 2025 Fund | | | | |
| Shares sold | 3,086,328 | 2,937,252 | $34,224,076 | $30,409,391 |
| Reinvestment of distributions | 132,525 | 20,195 | 1,475,891 | 211,842 |
| Shares redeemed | (1,866,188) | (790,375) | (20,480,296) | (8,102,956) |
| Net increase (decrease) | 1,352,665 | 2,167,072 | $15,219,671 | $22,518,277 |
| Class K | | | | |
| Shares sold | 815,369 | 3,101,173 | $9,135,853 | $31,910,064 |
| Reinvestment of distributions | 119,983 | 76,103 | 1,328,142 | 799,085 |
| Shares redeemed | (852,815) | (549,601) | (8,946,163) | (5,393,857) |
| Net increase (decrease) | 82,537 | 2,627,675 | $1,517,832 | $27,315,292 |
| Class K6 | | | | |
| Shares sold | 30,668,060 | 70,458,538 | $324,651,986 | $703,260,058 |
| Reinvestment of distributions | 3,662,079 | 1,997,769 | 40,753,859 | 21,003,005 |
| Shares redeemed | (13,008,845) | (8,245,281) | (142,611,587) | (81,859,127) |
| Net increase (decrease) | 21,321,294 | 64,211,026 | $222,794,258 | $642,403,936 |
| Class I | | | | |
| Shares sold | 1,899,911 | 909,969 | $19,110,228 | $9,435,700 |
| Reinvestment of distributions | 87,154 | 16,616 | 959,802 | 174,303 |
| Shares redeemed | (742,591) | (92,290) | (8,182,270) | (947,828) |
| Net increase (decrease) | 1,244,474 | 834,295 | $11,887,760 | $8,662,175 |
| Class Z | | | | |
| Reinvestment of distributions | 474 | 310 | $5,255 | $3,260 |
| Net increase (decrease) | 474 | 310 | $5,255 | $3,260 |
| Class Z6 | | | | |
| Shares sold | 419,482 | 443,762 | $4,789,505 | $4,623,108 |
| Reinvestment of distributions | 24,446 | 1,234 | 272,725 | 12,966 |
| Shares redeemed | (108,195) | (43,344) | (1,166,354) | (446,904) |
| Net increase (decrease) | 335,733 | 401,652 | $3,895,876 | $4,189,170 |
| Fidelity Freedom Blend 2030 Fund | | | | |
| Class A | | | | |
| Shares sold | 454,122 | 222,484 | $5,029,304 | $2,218,980 |
| Reinvestment of distributions | 15,071 | 3,300 | 168,878 | 34,389 |
| Shares redeemed | (160,781) | (89,605) | (1,753,468) | (829,687) |
| Net increase (decrease) | 308,412 | 136,179 | $3,444,714 | $1,423,682 |
| Class M | | | | |
| Shares sold | 92,691 | 212,482 | $1,033,270 | $2,218,002 |
| Reinvestment of distributions | 6,125 | 1,840 | 68,058 | 19,154 |
| Shares redeemed | (13,698) | (120,923) | (153,729) | (1,251,910) |
| Net increase (decrease) | 85,118 | 93,399 | $947,599 | $985,246 |
| Class C | | | | |
| Shares sold | 224,077 | 96,524 | $2,292,531 | $852,234 |
| Reinvestment of distributions | 9,238 | 1,243 | 101,064 | 12,929 |
| Shares redeemed | (88,801) | (12,142) | (936,801) | (123,032) |
| Net increase (decrease) | 144,514 | 85,625 | $1,456,794 | $742,131 |
| Fidelity Freedom Blend 2030 Fund | | | | |
| Shares sold | 1,448,652 | 2,219,255 | $15,812,844 | $22,724,146 |
| Reinvestment of distributions | 108,204 | 15,582 | 1,198,805 | 162,525 |
| Shares redeemed | (854,989) | (282,422) | (9,039,662) | (2,812,945) |
| Net increase (decrease) | 701,867 | 1,952,415 | $7,971,987 | $20,073,726 |
| Class K | | | | |
| Shares sold | 696,511 | 2,663,047 | $7,684,693 | $26,975,778 |
| Reinvestment of distributions | 118,617 | 73,778 | 1,307,651 | 769,504 |
| Shares redeemed | (590,584) | (295,302) | (6,065,281) | (2,979,983) |
| Net increase (decrease) | 224,544 | 2,441,523 | $2,927,063 | $24,765,299 |
| Class K6 | | | | |
| Shares sold | 30,060,192 | 71,449,167 | $315,433,952 | $703,759,303 |
| Reinvestment of distributions | 3,995,352 | 2,075,308 | 44,309,572 | 21,676,270 |
| Shares redeemed | (9,722,328) | (6,220,182) | (105,348,399) | (60,775,687) |
| Net increase (decrease) | 24,333,216 | 67,304,293 | $254,395,125 | $664,659,886 |
| Class I | | | | |
| Shares sold | 1,662,604 | 1,330,677 | $17,087,189 | $13,669,900 |
| Reinvestment of distributions | 103,115 | 15,252 | 1,140,293 | 159,078 |
| Shares redeemed | (340,830) | (162,714) | (3,646,619) | (1,623,820) |
| Net increase (decrease) | 1,424,889 | 1,183,215 | $14,580,863 | $12,205,158 |
| Class Z | | | | |
| Shares sold | 7,726 | 5,262 | $83,970 | $55,731 |
| Reinvestment of distributions | 898 | 355 | 9,907 | 3,705 |
| Net increase (decrease) | 8,624 | 5,617 | $93,877 | $59,436 |
| Class Z6 | | | | |
| Shares sold | 317,050 | 456,774 | $3,538,839 | $4,726,736 |
| Reinvestment of distributions | 25,180 | 1,766 | 279,395 | 18,455 |
| Shares redeemed | (222,013) | (52,856) | (2,387,003) | (476,266) |
| Net increase (decrease) | 120,217 | 405,684 | $1,431,231 | $4,268,925 |
| Fidelity Freedom Blend 2035 Fund | | | | |
| Class A | | | | |
| Shares sold | 98,148 | 74,994 | $1,034,436 | $759,705 |
| Reinvestment of distributions | 7,267 | 3,098 | 81,391 | 32,283 |
| Shares redeemed | (25,410) | (21,952) | (278,150) | (212,265) |
| Net increase (decrease) | 80,005 | 56,140 | $837,677 | $579,723 |
| Class M | | | | |
| Shares sold | 76,987 | 35,509 | $846,594 | $361,165 |
| Reinvestment of distributions | 3,816 | 769 | 43,152 | 8,010 |
| Shares redeemed | (41,352) | (20,415) | (494,143) | (213,271) |
| Net increase (decrease) | 39,451 | 15,863 | $395,603 | $155,904 |
| Class C | | | | |
| Shares sold | 95,363 | 11,572 | $1,008,030 | $114,935 |
| Reinvestment of distributions | 3,766 | 838 | 42,230 | 8,721 |
| Shares redeemed | (17,733) | (1,519) | (199,046) | (15,601) |
| Net increase (decrease) | 81,396 | 10,891 | $851,214 | $108,055 |
| Fidelity Freedom Blend 2035 Fund | | | | |
| Shares sold | 1,748,448 | 1,936,875 | $19,510,483 | $19,814,978 |
| Reinvestment of distributions | 124,374 | 12,930 | 1,387,247 | 134,860 |
| Shares redeemed | (484,145) | (321,953) | (5,409,394) | (3,252,705) |
| Net increase (decrease) | 1,388,677 | 1,627,852 | $15,488,336 | $16,697,133 |
| Class K | | | | |
| Shares sold | 618,688 | 1,894,188 | $6,924,881 | $18,850,169 |
| Reinvestment of distributions | 93,889 | 57,311 | 1,034,516 | 598,323 |
| Shares redeemed | (553,741) | (75,633) | (5,424,055) | (760,821) |
| Net increase (decrease) | 158,836 | 1,875,866 | $2,535,342 | $18,687,671 |
| Class K6 | | | | |
| Shares sold | 26,242,237 | 68,941,798 | $276,687,978 | $674,125,737 |
| Reinvestment of distributions | 4,016,752 | 2,118,650 | 44,547,977 | 22,128,385 |
| Shares redeemed | (9,529,375) | (6,081,849) | (102,470,993) | (58,379,394) |
| Net increase (decrease) | 20,729,614 | 64,978,599 | $218,764,962 | $637,874,728 |
| Class I | | | | |
| Shares sold | 900,947 | 802,010 | $8,938,182 | $8,214,796 |
| Reinvestment of distributions | 60,506 | 10,865 | 666,837 | 113,319 |
| Shares redeemed | (218,831) | (138,887) | (2,202,323) | (1,371,432) |
| Net increase (decrease) | 742,622 | 673,988 | $7,402,696 | $6,956,683 |
| Class Z | | | | |
| Shares sold | 302 | 15,166 | $3,649 | $152,875 |
| Reinvestment of distributions | 1,383 | 918 | 15,254 | 9,587 |
| Net increase (decrease) | 1,685 | 16,084 | $18,903 | $162,462 |
| Class Z6 | | | | |
| Shares sold | 261,889 | 274,462 | $2,949,996 | $2,848,481 |
| Reinvestment of distributions | 19,414 | 972 | 217,287 | 10,155 |
| Shares redeemed | (60,687) | (32,970) | (665,901) | (309,622) |
| Net increase (decrease) | 220,616 | 242,464 | $2,501,382 | $2,549,014 |
| Fidelity Freedom Blend 2040 Fund | | | | |
| Class A | | | | |
| Shares sold | 157,894 | 60,630 | $1,701,727 | $596,550 |
| Reinvestment of distributions | 7,982 | 1,884 | 90,051 | 19,594 |
| Shares redeemed | (17,480) | (5,252) | (201,508) | (54,714) |
| Net increase (decrease) | 148,396 | 57,262 | $1,590,270 | $561,430 |
| Class M | | | | |
| Shares sold | 32,527 | 38,917 | $350,440 | $406,464 |
| Reinvestment of distributions | 2,672 | 536 | 29,927 | 5,585 |
| Shares redeemed | (3,898) | (14,723) | (47,397) | (138,164) |
| Net increase (decrease) | 31,301 | 24,730 | $332,970 | $273,885 |
| Class C | | | | |
| Shares sold | 90,582 | 24,274 | $925,575 | $235,367 |
| Reinvestment of distributions | 4,449 | 978 | 49,879 | 10,160 |
| Shares redeemed | (18,837) | (3,808) | (200,778) | (38,081) |
| Net increase (decrease) | 76,194 | 21,444 | $774,676 | $207,446 |
| Fidelity Freedom Blend 2040 Fund | | | | |
| Shares sold | 1,148,892 | 1,965,272 | $12,693,716 | $20,064,811 |
| Reinvestment of distributions | 113,489 | 11,629 | 1,264,619 | 121,169 |
| Shares redeemed | (365,267) | (212,164) | (3,872,465) | (2,040,180) |
| Net increase (decrease) | 897,114 | 1,764,737 | $10,085,870 | $18,145,800 |
| Class K | | | | |
| Shares sold | 516,228 | 1,855,388 | $5,763,100 | $18,520,673 |
| Reinvestment of distributions | 80,647 | 49,527 | 883,718 | 516,568 |
| Shares redeemed | (849,962) | (82,653) | (8,414,711) | (837,026) |
| Net increase (decrease) | (253,087) | 1,822,262 | $(1,767,893) | $18,200,215 |
| Class K6 | | | | |
| Shares sold | 22,099,060 | 62,771,495 | $234,086,978 | $609,899,448 |
| Reinvestment of distributions | 3,646,821 | 1,860,502 | 40,625,180 | 19,412,655 |
| Shares redeemed | (8,197,139) | (4,823,088) | (87,746,957) | (46,032,380) |
| Net increase (decrease) | 17,548,742 | 59,808,909 | $186,965,201 | $583,279,723 |
| Class I | | | | |
| Shares sold | 532,526 | 573,473 | $5,379,555 | $5,791,423 |
| Reinvestment of distributions | 43,104 | 7,811 | 480,886 | 81,386 |
| Shares redeemed | (106,183) | (103,563) | (1,114,128) | (1,078,530) |
| Net increase (decrease) | 469,447 | 477,721 | $4,746,313 | $4,794,279 |
| Class Z | | | | |
| Reinvestment of distributions | 557 | 343 | $6,183 | $3,583 |
| Net increase (decrease) | 557 | 343 | $6,183 | $3,583 |
| Class Z6 | | | | |
| Shares sold | 164,379 | 216,662 | $1,896,486 | $2,260,493 |
| Reinvestment of distributions | 12,029 | 508 | 134,741 | 5,310 |
| Shares redeemed | (84,821) | (60,449) | (910,342) | (573,566) |
| Net increase (decrease) | 91,587 | 156,721 | $1,120,885 | $1,692,237 |
| Fidelity Freedom Blend 2045 Fund | | | | |
| Class A | | | | |
| Shares sold | 93,659 | 82,029 | $1,016,138 | $819,225 |
| Reinvestment of distributions | 6,337 | 2,639 | 70,620 | 27,494 |
| Shares redeemed | (40,716) | (10,297) | (442,138) | (103,421) |
| Net increase (decrease) | 59,280 | 74,371 | $644,620 | $743,298 |
| Class M | | | | |
| Shares sold | 23,703 | 121,324 | $257,491 | $1,272,405 |
| Reinvestment of distributions | 6,560 | 677 | 72,607 | 7,045 |
| Shares redeemed | (19,491) | (3,456) | (198,419) | (34,441) |
| Net increase (decrease) | 10,772 | 118,545 | $131,679 | $1,245,009 |
| Class C | | | | |
| Shares sold | 68,867 | 16,836 | $716,112 | $168,708 |
| Reinvestment of distributions | 3,656 | 603 | 41,341 | 6,265 |
| Shares redeemed | (9,421) | (2,291) | (109,061) | (22,573) |
| Net increase (decrease) | 63,102 | 15,148 | $648,392 | $152,400 |
| Fidelity Freedom Blend 2045 Fund | | | | |
| Shares sold | 839,531 | 1,374,727 | $9,001,204 | $14,041,739 |
| Reinvestment of distributions | 81,575 | 6,577 | 909,988 | 68,591 |
| Shares redeemed | (313,385) | (172,550) | (3,342,716) | (1,608,006) |
| Net increase (decrease) | 607,721 | 1,208,754 | $6,568,476 | $12,502,324 |
| Class K | | | | |
| Shares sold | 627,503 | 1,685,191 | $7,060,709 | $16,854,789 |
| Reinvestment of distributions | 80,356 | 44,201 | 886,361 | 461,012 |
| Shares redeemed | (694,235) | (116,901) | (6,755,235) | (1,169,196) |
| Net increase (decrease) | 13,624 | 1,612,491 | $1,191,835 | $16,146,605 |
| Class K6 | | | | |
| Shares sold | 18,821,134 | 53,576,395 | $199,128,585 | $520,549,510 |
| Reinvestment of distributions | 3,106,858 | 1,567,387 | 34,613,340 | 16,369,836 |
| Shares redeemed | (7,078,985) | (3,641,445) | (76,328,330) | (34,923,157) |
| Net increase (decrease) | 14,849,007 | 51,502,337 | $157,413,595 | $501,996,189 |
| Class I | | | | |
| Shares sold | 467,538 | 414,698 | $4,719,431 | $4,173,179 |
| Reinvestment of distributions | 38,374 | 8,521 | 428,586 | 88,782 |
| Shares redeemed | (71,993) | (24,213) | (788,578) | (250,866) |
| Net increase (decrease) | 433,919 | 399,006 | $4,359,439 | $4,011,095 |
| Class Z | | | | |
| Shares sold | 15,658 | 416 | $188,660 | $4,098 |
| Reinvestment of distributions | 604 | 346 | 6,722 | 3,619 |
| Shares redeemed | (657) | – | (6,840) | – |
| Net increase (decrease) | 15,605 | 762 | $188,542 | $7,717 |
| Class Z6 | | | | |
| Shares sold | 274,215 | 125,922 | $3,194,080 | $1,256,608 |
| Reinvestment of distributions | 10,704 | 511 | 120,631 | 5,334 |
| Shares redeemed | (75,241) | (3,552) | (855,454) | (32,601) |
| Net increase (decrease) | 209,678 | 122,881 | $2,459,257 | $1,229,341 |
| Fidelity Freedom Blend 2050 Fund | | | | |
| Class A | | | | |
| Shares sold | 113,331 | 60,808 | $1,241,611 | $577,409 |
| Reinvestment of distributions | 6,047 | 1,893 | 68,023 | 19,643 |
| Shares redeemed | (25,431) | (9,904) | (296,761) | (98,042) |
| Net increase (decrease) | 93,947 | 52,797 | $1,012,873 | $499,010 |
| Class M | | | | |
| Shares sold | 29,385 | 30,577 | $324,443 | $298,706 |
| Reinvestment of distributions | 2,172 | 832 | 24,168 | 8,625 |
| Shares redeemed | (11,442) | (5,655) | (137,157) | (56,777) |
| Net increase (decrease) | 20,115 | 25,754 | $211,454 | $250,554 |
| Class C | | | | |
| Shares sold | 60,198 | 43,888 | $641,066 | $419,403 |
| Reinvestment of distributions | 3,135 | 955 | 34,540 | 9,876 |
| Shares redeemed | (37,377) | (4,602) | (405,588) | (44,442) |
| Net increase (decrease) | 25,956 | 40,241 | $270,018 | $384,837 |
| Fidelity Freedom Blend 2050 Fund | | | | |
| Shares sold | 1,412,929 | 1,196,246 | $15,547,970 | $12,158,738 |
| Reinvestment of distributions | 85,755 | 5,804 | 961,305 | 60,239 |
| Shares redeemed | (410,757) | (97,735) | (4,549,086) | (961,160) |
| Net increase (decrease) | 1,087,927 | 1,104,315 | $11,960,189 | $11,257,817 |
| Class K | | | | |
| Shares sold | 394,842 | 1,085,097 | $4,382,580 | $10,766,293 |
| Reinvestment of distributions | 44,356 | 29,763 | 486,658 | 308,941 |
| Shares redeemed | (531,894) | (115,539) | (5,174,594) | (1,168,292) |
| Net increase (decrease) | (92,696) | 999,321 | $(305,356) | $9,906,942 |
| Class K6 | | | | |
| Shares sold | 17,154,415 | 42,505,008 | $179,714,856 | $410,753,832 |
| Reinvestment of distributions | 2,470,851 | 1,153,996 | 27,519,027 | 11,994,804 |
| Shares redeemed | (5,741,358) | (2,905,330) | (61,039,314) | (27,598,201) |
| Net increase (decrease) | 13,883,908 | 40,753,674 | $146,194,569 | $395,150,435 |
| Class I | | | | |
| Shares sold | 250,536 | 411,997 | $2,644,872 | $4,090,112 |
| Reinvestment of distributions | 26,352 | 9,318 | 294,662 | 96,721 |
| Shares redeemed | (76,080) | (46,900) | (834,701) | (452,765) |
| Net increase (decrease) | 200,808 | 374,415 | $2,104,833 | $3,734,068 |
| Class Z | | | | |
| Reinvestment of distributions | 542 | 332 | $6,016 | $3,453 |
| Net increase (decrease) | 542 | 332 | $6,016 | $3,453 |
| Class Z6 | | | | |
| Shares sold | 159,741 | 229,013 | $1,805,963 | $2,363,807 |
| Reinvestment of distributions | 15,508 | 420 | 173,331 | 4,367 |
| Shares redeemed | (46,920) | (2,239) | (500,702) | (18,844) |
| Net increase (decrease) | 128,329 | 227,194 | $1,478,592 | $2,349,330 |
| Fidelity Freedom Blend 2055 Fund | | | | |
| Class A | | | | |
| Shares sold | 71,346 | 32,623 | $763,966 | $320,492 |
| Reinvestment of distributions | 4,242 | 1,064 | 48,262 | 11,061 |
| Shares redeemed | (17,605) | (2,079) | (208,935) | (20,792) |
| Net increase (decrease) | 57,983 | 31,608 | $603,293 | $310,761 |
| Class M | | | | |
| Shares sold | 28,746 | 19,745 | $305,499 | $198,412 |
| Reinvestment of distributions | 2,037 | 427 | 23,005 | 4,435 |
| Shares redeemed | (6,153) | (730) | (66,407) | (7,443) |
| Net increase (decrease) | 24,630 | 19,442 | $262,097 | $195,404 |
| Class C | | | | |
| Shares sold | 19,514 | 9,252 | $214,067 | $90,453 |
| Reinvestment of distributions | 1,100 | 388 | 12,301 | 4,029 |
| Shares redeemed | (7,188) | (2,339) | (84,097) | (23,298) |
| Net increase (decrease) | 13,426 | 7,301 | $142,271 | $71,184 |
| Fidelity Freedom Blend 2055 Fund | | | | |
| Shares sold | 566,903 | 628,014 | $6,100,481 | $6,395,015 |
| Reinvestment of distributions | 42,059 | 2,201 | 475,150 | 22,905 |
| Shares redeemed | (122,667) | (35,245) | (1,317,151) | (351,096) |
| Net increase (decrease) | 486,295 | 594,970 | $5,258,480 | $6,066,824 |
| Class K | | | | |
| Shares sold | 290,643 | 621,789 | $3,192,388 | $6,185,860 |
| Reinvestment of distributions | 26,567 | 14,745 | 296,213 | 153,497 |
| Shares redeemed | (314,831) | (72,759) | (3,126,380) | (708,474) |
| Net increase (decrease) | 2,379 | 563,775 | $362,221 | $5,630,883 |
| Class K6 | | | | |
| Shares sold | 11,345,541 | 20,720,008 | $118,727,537 | $200,342,623 |
| Reinvestment of distributions | 1,219,504 | 465,881 | 13,744,285 | 4,851,113 |
| Shares redeemed | (3,546,758) | (1,391,367) | (38,257,443) | (12,921,590) |
| Net increase (decrease) | 9,018,287 | 19,794,522 | $94,214,379 | $192,272,146 |
| Class I | | | | |
| Shares sold | 163,754 | 238,393 | $1,746,568 | $2,364,256 |
| Reinvestment of distributions | 13,854 | 4,816 | 156,276 | 50,084 |
| Shares redeemed | (76,850) | (30,006) | (858,570) | (304,125) |
| Net increase (decrease) | 100,758 | 213,203 | $1,044,274 | $2,110,215 |
| Class Z | | | | |
| Shares sold | 6,400 | – | $77,500 | $– |
| Reinvestment of distributions | 510 | 308 | 5,718 | 3,207 |
| Net increase (decrease) | 6,910 | 308 | $83,218 | $3,207 |
| Class Z6 | | | | |
| Shares sold | 182,076 | 76,670 | $2,109,248 | $788,359 |
| Reinvestment of distributions | 7,124 | 495 | 81,141 | 5,156 |
| Shares redeemed | (23,921) | (3,981) | (267,644) | (37,788) |
| Net increase (decrease) | 165,279 | 73,184 | $1,922,745 | $755,727 |
| Fidelity Freedom Blend 2060 Fund | | | | |
| Class A | | | | |
| Shares sold | 65,312 | 37,225 | $714,708 | $363,718 |
| Reinvestment of distributions | 3,398 | 1,237 | 38,825 | 12,880 |
| Shares redeemed | (30,838) | (4,518) | (348,582) | (46,270) |
| Net increase (decrease) | 37,872 | 33,944 | $404,951 | $330,328 |
| Class M | | | | |
| Shares sold | 15,597 | 9,936 | $169,875 | $99,900 |
| Reinvestment of distributions | 1,174 | 395 | 13,370 | 4,107 |
| Shares redeemed | (4,222) | (4,387) | (45,371) | (42,552) |
| Net increase (decrease) | 12,549 | 5,944 | $137,874 | $61,455 |
| Class C | | | | |
| Shares sold | 17,098 | 16,593 | $181,359 | $164,497 |
| Reinvestment of distributions | 1,321 | 431 | 14,892 | 4,470 |
| Shares redeemed | (5,899) | (1,343) | (64,817) | (13,597) |
| Net increase (decrease) | 12,520 | 15,681 | $131,434 | $155,370 |
| Fidelity Freedom Blend 2060 Fund | | | | |
| Shares sold | 257,189 | 301,091 | $2,815,658 | $3,009,069 |
| Reinvestment of distributions | 18,097 | 2,870 | 206,276 | 29,908 |
| Shares redeemed | (62,792) | (17,766) | (677,248) | (175,374) |
| Net increase (decrease) | 212,494 | 286,195 | $2,344,686 | $2,863,603 |
| Class K | | | | |
| Shares sold | 110,925 | 159,219 | $1,232,454 | $1,575,376 |
| Reinvestment of distributions | 7,137 | 3,732 | 81,145 | 38,953 |
| Shares redeemed | (84,982) | (16,014) | (844,184) | (160,325) |
| Net increase (decrease) | 33,080 | 146,937 | $469,415 | $1,454,004 |
| Class K6 | | | | |
| Shares sold | 5,107,278 | 5,632,561 | $54,365,056 | $54,434,732 |
| Reinvestment of distributions | 335,311 | 96,880 | 3,843,006 | 1,010,306 |
| Shares redeemed | (1,436,035) | (495,746) | (15,636,966) | (4,563,687) |
| Net increase (decrease) | 4,006,554 | 5,233,695 | $42,571,096 | $50,881,351 |
| Class I | | | | |
| Shares sold | 99,838 | 125,809 | $1,077,146 | $1,254,764 |
| Reinvestment of distributions | 6,924 | 2,399 | 78,938 | 25,016 |
| Shares redeemed | (53,196) | (8,394) | (577,268) | (84,666) |
| Net increase (decrease) | 53,566 | 119,814 | $578,816 | $1,195,114 |
| Class Z | | | | |
| Shares sold | 53 | 37 | $636 | $370 |
| Reinvestment of distributions | 463 | 299 | 5,263 | 3,118 |
| Shares redeemed | (53) | – | (642) | – |
| Net increase (decrease) | 463 | 336 | $5,257 | $3,488 |
| Class Z6 | | | | |
| Shares sold | 92,880 | 35,644 | $1,071,821 | $373,562 |
| Reinvestment of distributions | 3,524 | 312 | 40,627 | 3,250 |
| Shares redeemed | (17,629) | (1,699) | (199,435) | (16,504) |
| Net increase (decrease) | 78,775 | 34,257 | $913,013 | $360,308 |
| Fidelity Freedom Blend 2065 Fund | | | | |
| Class A | | | | |
| Shares sold | 22,167 | 21,250 | $255,173 | $212,603 |
| Reinvestment of distributions | 938 | 429 | 10,963 | 4,538 |
| Shares redeemed | (4,534) | (3,367) | (50,817) | (35,787) |
| Net increase (decrease) | 18,571 | 18,312 | $215,319 | $181,354 |
| Class M | | | | |
| Shares sold | 10,655 | 19,398 | $116,081 | $197,568 |
| Reinvestment of distributions | 815 | 353 | 9,480 | 3,736 |
| Shares redeemed | (2,799) | (100) | (31,353) | (1,055) |
| Net increase (decrease) | 8,671 | 19,651 | $94,208 | $200,249 |
| Class C | | | | |
| Shares sold | 14,552 | 18,175 | $161,619 | $181,622 |
| Reinvestment of distributions | 691 | 390 | 7,987 | 4,126 |
| Shares redeemed | (6,847) | (3) | (77,908) | (30) |
| Net increase (decrease) | 8,396 | 18,562 | $91,698 | $185,718 |
| Fidelity Freedom Blend 2065 Fund | | | | |
| Shares sold | 121,370 | 50,839 | $1,372,770 | $513,323 |
| Reinvestment of distributions | 3,296 | 672 | 38,785 | 7,111 |
| Shares redeemed | (35,369) | (1,358) | (413,222) | (13,934) |
| Net increase (decrease) | 89,297 | 50,153 | $998,333 | $506,500 |
| Class K | | | | |
| Shares sold | 13,080 | 13,889 | $154,165 | $138,798 |
| Reinvestment of distributions | 594 | 375 | 6,950 | 3,966 |
| Shares redeemed | (7,259) | (295) | (87,502) | (3,102) |
| Net increase (decrease) | 6,415 | 13,969 | $73,613 | $139,662 |
| Class K6 | | | | |
| Shares sold | 731,468 | 130,843 | $8,304,080 | $1,290,645 |
| Reinvestment of distributions | 15,833 | 892 | 188,061 | 9,439 |
| Shares redeemed | (176,977) | (3,142) | (2,044,398) | (29,862) |
| Net increase (decrease) | 570,324 | 128,593 | $6,447,743 | $1,270,222 |
| Class I | | | | |
| Shares sold | 39,593 | 27,553 | $430,178 | $256,437 |
| Reinvestment of distributions | 743 | 315 | 8,712 | 3,337 |
| Shares redeemed | (34,421) | (16) | (336,216) | (166) |
| Net increase (decrease) | 5,915 | 27,852 | $102,674 | $259,608 |
| Class Z | | | | |
| Shares sold | – | 11,111 | $– | $111,110 |
| Reinvestment of distributions | 409 | 316 | 4,765 | 3,344 |
| Net increase (decrease) | 409 | 11,427 | $4,765 | $114,454 |
| Class Z6 | | | | |
| Shares sold | 8,857 | 11,203 | $107,657 | $111,823 |
| Reinvestment of distributions | 693 | 321 | 8,183 | 3,400 |
| Shares redeemed | (8) | – | (87) | – |
| Net increase (decrease) | 9,542 | 11,524 | $115,753 | $115,223 |
(a) Share transactions for Fidelity Freedom Blend 2065 Fund are for the period June 28, 2019 (commencement of sale of shares) to March 31, 2020.
9. Other.
The Funds' organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Funds. In the normal course of business, the Funds may also enter into contracts that provide general indemnifications. The Funds' maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Funds. The risk of material loss from such claims is considered remote.
The Funds do not invest in underlying mutual funds for the purpose of exercising management or control; however, investments by the Funds within their principal investment strategies may represent a significant portion of the underlying mutual fund's net assets. At the end of the period, the following Funds were the owners of record of 10% or more of the total outstanding shares of the following underlying mutual funds.
| Fund | Fidelity Freedom Blend 2020 Fund | Fidelity Freedom Blend 2025 Fund | Fidelity Freedom Blend 2030 Fund | Fidelity Freedom Blend 2035 Fund | Fidelity Freedom Blend 2040 Fund | Fidelity Freedom Blend 2045 Fund |
| Fidelity Series Corporate Bond Fund | 11% | 16% | 14% | – | – | – |
| Fidelity Series Government Bond Index Fund | 11% | 16% | 14% | – | – | – |
| Fidelity Series Large Cap Growth Index Fund | – | – | 11% | 13% | 14% | 12% |
| Fidelity Series Investment Grade Securitized Fund | 11% | 15% | 14% | – | – | – |
| Fidelity Series International Index Fund | – | – | 11% | 13% | 13% | 11% |
The Funds, in aggregate, were the owners of record of more than 20% of the total outstanding shares of the following underlying mutual funds.
| Fund | % of shares held |
| Fidelity Series Corporate Bond Fund | 55% |
| Fidelity Series Government Bond Index Fund | 55% |
| Fidelity Series Large Cap Growth Index Fund | 84% |
| Fidelity Series Investment Grade Securitized Fund | 54% |
| Fidelity Series International Index Fund | 82% |
10. Coronavirus (COVID-19) Pandemic.
An outbreak of COVID-19 first detected in China during December 2019 has since spread globally and was declared a pandemic by the World Health Organization during March 2020. Developments that disrupt global economies and financial markets, such as the COVID-19 pandemic, may magnify factors that affect the Funds' performance.
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of Fidelity Aberdeen Street Trust and the Shareholders of Fidelity Freedom Blend Income Fund, Fidelity Freedom Blend 2005 Fund, Fidelity Freedom Blend 2010 Fund, Fidelity Freedom Blend 2015 Fund, Fidelity Freedom Blend 2020 Fund , Fidelity Freedom Blend 2025 Fund, Fidelity Freedom Blend 2030 Fund, Fidelity Freedom Blend 2035 Fund, Fidelity Freedom Blend 2040 Fund, Fidelity Freedom Blend 2045 Fund, Fidelity Freedom Blend 2050 Fund, Fidelity Freedom Blend 2055 Fund, Fidelity Freedom Blend 2060 Fund and Fidelity Freedom Blend 2065 Fund
Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds indicated in the table below (fourteen of the funds constituting Fidelity Aberdeen Street Trust, hereafter collectively referred to as the “Funds”) as of March 31, 2021, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated in the table below (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of March 31, 2021, the results of each of their operations, the changes in each of their net assets, and each of the financial highlights for each of the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.
| Fund | Statement of operations | Statement of changes in net assets | Financial highlights |
| Fidelity Freedom Blend Income Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021 and 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 |
| Fidelity Freedom Blend 2005 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021 and 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 |
| Fidelity Freedom Blend 2010 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021 and 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 |
| Fidelity Freedom Blend 2015 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021 and 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 |
| Fidelity Freedom Blend 2020 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021 and 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 |
| Fidelity Freedom Blend 2025 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021 and 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 |
| Fidelity Freedom Blend 2030 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021 and 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 |
| Fidelity Freedom Blend 2035 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021 and 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 |
| Fidelity Freedom Blend 2040 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021 and 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 |
| Fidelity Freedom Blend 2045 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021 and 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 |
| Fidelity Freedom Blend 2050 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021 and 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 |
| Fidelity Freedom Blend 2055 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021 and 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 |
| Fidelity Freedom Blend 2060 Fund | For the year ended March 31, 2021 | For the years ended March 31, 2021 and 2020 | For the years ended March 31, 2021 and 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 |
| Fidelity Freedom Blend 2065 Fund | For the year ended March 31, 2021 | For the year ended March 31, 2021 and the period June 28, 2019 (commencement of operations) to March 31, 2020 | For the year ended March 31, 2021 and the period June 28, 2019 (commencement of operations) to March 31, 2020 |
Basis for Opinions
These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of March 31, 2021 by correspondence with the custodian and brokers. We believe that our audits provide a reasonable basis for our opinions.
/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
May 11, 2021
We have served as the auditor of one or more investment companies in the Fidelity group of funds since 1932.
Trustees and Officers
The Trustees, Members of the Advisory Board (if any), and officers of the trust and funds, as applicable, are listed below. The Board of Trustees governs each fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee each fund's activities, review contractual arrangements with companies that provide services to each fund, oversee management of the risks associated with such activities and contractual arrangements, and review each fund's performance. If the interests of a fund and an underlying Fidelity® fund were to diverge, a conflict of interest could arise and affect how the Trustees and Members of the Advisory Board fulfill their fiduciary duties to the affected funds. FMR has structured the funds to avoid these potential conflicts, although there may be situations where a conflict of interest is unavoidable. In such instances, FMR, the Trustees, and Members of the Advisory Board would take reasonable steps to minimize and, if possible, eliminate the conflict. Each of the Trustees oversees 283 funds.
The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust. Each Trustee who is not an interested person (as defined in the 1940 Act) of the trust and the funds is referred to herein as an Independent Trustee. Each Independent Trustee shall retire not later than the last day of the calendar year in which his or her 75th birthday occurs. The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees. Officers and Advisory Board Members hold office without limit in time, except that any officer or Advisory Board Member may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years.
Each fund's Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-800-544-8544 if you’re an individual investing directly with Fidelity, call 1-800-835-5092 if you’re a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you’re an advisor or invest through one.
Experience, Skills, Attributes, and Qualifications of the Trustees. The Governance and Nominating Committee has adopted a statement of policy that describes the experience, qualifications, attributes, and skills that are necessary and desirable for potential Independent Trustee candidates (Statement of Policy). The Board believes that each Trustee satisfied at the time he or she was initially elected or appointed a Trustee, and continues to satisfy, the standards contemplated by the Statement of Policy. The Governance and Nominating Committee also engages professional search firms to help identify potential Independent Trustee candidates who have the experience, qualifications, attributes, and skills consistent with the Statement of Policy. From time to time, additional criteria based on the composition and skills of the current Independent Trustees, as well as experience or skills that may be appropriate in light of future changes to board composition, business conditions, and regulatory or other developments, have also been considered by the professional search firms and the Governance and Nominating Committee. In addition, the Board takes into account the Trustees' commitment and participation in Board and committee meetings, as well as their leadership of standing and ad hoc committees throughout their tenure.
In determining that a particular Trustee was and continues to be qualified to serve as a Trustee, the Board has considered a variety of criteria, none of which, in isolation, was controlling. The Board believes that, collectively, the Trustees have balanced and diverse experience, qualifications, attributes, and skills, which allow the Board to operate effectively in governing each fund and protecting the interests of shareholders. Information about the specific experience, skills, attributes, and qualifications of each Trustee, which in each case led to the Board's conclusion that the Trustee should serve (or continue to serve) as a trustee of the funds, is provided below.
Board Structure and Oversight Function. Abigail P. Johnson is an interested person and currently serves as Chairman. The Trustees have determined that an interested Chairman is appropriate and benefits shareholders because an interested Chairman has a personal and professional stake in the quality and continuity of services provided to the funds. Independent Trustees exercise their informed business judgment to appoint an individual of their choosing to serve as Chairman, regardless of whether the Trustee happens to be independent or a member of management. The Independent Trustees have determined that they can act independently and effectively without having an Independent Trustee serve as Chairman and that a key structural component for assuring that they are in a position to do so is for the Independent Trustees to constitute a substantial majority for the Board. The Independent Trustees also regularly meet in executive session. Arthur E. Johnson serves as Chairman of the Independent Trustees and as such (i) acts as a liaison between the Independent Trustees and management with respect to matters important to the Independent Trustees and (ii) with management prepares agendas for Board meetings.
Fidelity® funds are overseen by different Boards of Trustees. The funds' Board oversees Fidelity's investment-grade bond, money market, asset allocation and certain equity funds, and other Boards oversee Fidelity's high income and other equity funds. The asset allocation funds may invest in Fidelity® funds that are overseen by such other Boards. The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity® funds to focus on the unique issues of the funds they oversee, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity® funds overseen by each Board.
The Trustees operate using a system of committees to facilitate the timely and efficient consideration of all matters of importance to the Trustees, each fund, and fund shareholders and to facilitate compliance with legal and regulatory requirements and oversight of the funds' activities and associated risks. The Board, acting through its committees, has charged FMR and its affiliates with (i) identifying events or circumstances the occurrence of which could have demonstrably adverse effects on the funds' business and/or reputation; (ii) implementing processes and controls to lessen the possibility that such events or circumstances occur or to mitigate the effects of such events or circumstances if they do occur; and (iii) creating and maintaining a system designed to evaluate continuously business and market conditions in order to facilitate the identification and implementation processes described in (i) and (ii) above. Because the day-to-day operations and activities of the funds are carried out by or through FMR, its affiliates, and other service providers, the funds' exposure to risks is mitigated but not eliminated by the processes overseen by the Trustees. While each of the Board's committees has responsibility for overseeing different aspects of the funds' activities, oversight is exercised primarily through the Operations and Audit Committees. In addition, an ad hoc Board committee of Independent Trustees has worked with FMR to enhance the Board's oversight of investment and financial risks, legal and regulatory risks, technology risks, and operational risks, including the development of additional risk reporting to the Board. Appropriate personnel, including but not limited to the funds' Chief Compliance Officer (CCO), FMR's internal auditor, the independent accountants, the funds' Treasurer and portfolio management personnel, make periodic reports to the Board's committees, as appropriate, including an annual review of Fidelity's risk management program for the Fidelity® funds. The responsibilities of each standing committee, including their oversight responsibilities, are described further under "Standing Committees of the Trustees."
Interested Trustees*:
Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.
Name, Year of Birth; Principal Occupations and Other Relevant Experience+
Abigail P. Johnson (1961)
Year of Election or Appointment: 2009
Trustee
Chairman of the Board of Trustees
Ms. Johnson also serves as Trustee of other Fidelity® funds. Ms. Johnson serves as Chairman (2016-present), Chief Executive Officer (2014-present), and Director (2007-present) of FMR LLC (diversified financial services company), President of Fidelity Financial Services (2012-present) and President of Personal, Workplace and Institutional Services (2005-present). Ms. Johnson is Chairman and Director of Fidelity Management & Research Company LLC (investment adviser firm, 2011-present). Previously, Ms. Johnson served as Chairman and Director of FMR Co., Inc. (investment adviser firm, 2011-2019), Vice Chairman (2007-2016) and President (2013-2016) of FMR LLC, President and a Director of Fidelity Management & Research Company (2001-2005), a Trustee of other investment companies advised by Fidelity Management & Research Company, Fidelity Investments Money Management, Inc. (investment adviser firm), and FMR Co., Inc. (2001-2005), Senior Vice President of the Fidelity® funds (2001-2005), and managed a number of Fidelity® funds. Ms. Abigail P. Johnson and Mr. Arthur E. Johnson are not related.
Jennifer Toolin McAuliffe (1959)
Year of Election or Appointment: 2016
Trustee
Ms. McAuliffe also serves as Trustee of other Fidelity® funds and as Trustee of Fidelity Charitable (2020-present). Previously, Ms. McAuliffe served as Co-Head of Fixed Income of Fidelity Investments Limited (now known as FIL Limited (FIL)) (diversified financial services company), Director of Research for FIL’s credit and quantitative teams in London, Hong Kong and Tokyo and Director of Research for taxable and municipal bonds at Fidelity Investments Money Management, Inc. Ms. McAuliffe previously served as a member of the Advisory Board of certain Fidelity® funds (2016). Ms. McAuliffe was previously a lawyer at Ropes & Gray LLP and currently serves as director or trustee of several not-for-profit entities.
* Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.
+ The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for each fund.
Independent Trustees:
Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.
Name, Year of Birth; Principal Occupations and Other Relevant Experience+
Elizabeth S. Acton (1951)
Year of Election or Appointment: 2013
Trustee
Ms. Acton also serves as Trustee of other Fidelity® funds. Prior to her retirement, Ms. Acton served as Executive Vice President, Finance (2011-2012), Executive Vice President, Chief Financial Officer (2002-2011) and Treasurer (2004-2005) of Comerica Incorporated (financial services). Prior to joining Comerica, Ms. Acton held a variety of positions at Ford Motor Company (1983-2002), including Vice President and Treasurer (2000-2002) and Executive Vice President and Chief Financial Officer of Ford Motor Credit Company (1998-2000). Ms. Acton currently serves as a member of the Board and Audit and Finance Committees of Beazer Homes USA, Inc. (homebuilding, 2012-present). Ms. Acton previously served as a member of the Advisory Board of certain Fidelity® funds (2013-2016).
Ann E. Dunwoody (1953)
Year of Election or Appointment: 2018
Trustee
General Dunwoody also serves as Trustee of other Fidelity® funds. General Dunwoody (United States Army, Retired) was the first woman in U.S. military history to achieve the rank of four-star general and prior to her retirement in 2012 held a variety of positions within the U.S. Army, including Commanding General, U.S. Army Material Command (2008-2012). General Dunwoody currently serves as President of First to Four LLC (leadership and mentoring services, 2012-present), a member of the Board and Nomination and Corporate Governance Committees of Kforce Inc. (professional staffing services, 2016-present) and a member of the Board of Automattic Inc. (software engineering, 2018-present). Previously, General Dunwoody served as a member of the Advisory Board and Nominating and Corporate Governance Committee of L3 Technologies, Inc. (communication, electronic, sensor and aerospace systems, 2013-2019) and a member of the Board and Audit and Sustainability and Corporate Responsibility Committees of Republic Services, Inc. (waste collection, disposal and recycling, 2013-2016). Ms. Dunwoody also serves on several boards for non-profit organizations, including as a member of the Board, Chair of the Nomination and Governance Committee and a member of the Audit Committee of Logistics Management Institute (consulting non-profit, 2012-present), a member of the Council of Trustees for the Association of the United States Army (advocacy non-profit, 2013-present), a member of the Board of Florida Institute of Technology (2015-present) and a member of the Board of ThanksUSA (military family education non-profit, 2014-present). General Dunwoody previously served as a member of the Advisory Board of certain Fidelity® funds (2018).
John Engler (1948)
Year of Election or Appointment: 2014
Trustee
Mr. Engler also serves as Trustee of other Fidelity® funds. Previously, Mr. Engler served as Governor of Michigan (1991-2003), President of the Business Roundtable (2011-2017) and interim President of Michigan State University (2018-2019). Mr. Engler currently serves as a member of the Board of Stride, Inc. (formerly K12 Inc.) (technology-based education company, 2012-present). Previously, Mr. Engler served as a member of the Board of Universal Forest Products (manufacturer and distributor of wood and wood-alternative products, 2003-2019) and Trustee of The Munder Funds (2003-2014). Mr. Engler previously served as a member of the Advisory Board of certain Fidelity® funds (2014-2016).
Robert F. Gartland (1951)
Year of Election or Appointment: 2010
Trustee
Mr. Gartland also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Gartland held a variety of positions at Morgan Stanley (financial services, 1979-2007), including Managing Director (1987-2007) and Chase Manhattan Bank (1975-1978). Mr. Gartland previously served as Chairman and an investor in Gartland & Mellina Group Corp. (consulting, 2009-2019), as a member of the Board of National Securities Clearing Corporation (1993-1996) and as Chairman of TradeWeb (2003-2004).
Arthur E. Johnson (1947)
Year of Election or Appointment: 2008
Trustee
Chairman of the Independent Trustees
Mr. Johnson also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Johnson served as Senior Vice President of Corporate Strategic Development of Lockheed Martin Corporation (defense contractor, 1999-2009). Mr. Johnson currently serves as a member of the Board of Booz Allen Hamilton (management consulting, 2011-present). Mr. Johnson previously served as a member of the Board of Eaton Corporation plc (diversified power management, 2009-2019) and a member of the Board of AGL Resources, Inc. (holding company, 2002-2016). Mr. Johnson previously served as Vice Chairman (2015-2018) of the Independent Trustees of certain Fidelity® funds. Mr. Arthur E. Johnson is not related to Ms. Abigail P. Johnson.
Michael E. Kenneally (1954)
Year of Election or Appointment: 2009
Trustee
Vice Chairman of the Independent Trustees
Mr. Kenneally also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Kenneally served as Chairman and Global Chief Executive Officer of Credit Suisse Asset Management and as Executive Vice President and Chief Investment Officer for Bank of America Corporation, where he was responsible for the bank’s money-management products. Previously at Bank of America, Mr. Kenneally managed the principal investment research functions and also spent more than a decade as portfolio manager for various equity and fixed-income funds and institutional accounts. He began his career as a research analyst in 1983 and was awarded the Chartered Financial Analyst (CFA) designation in 1991.
Marie L. Knowles (1946)
Year of Election or Appointment: 2001
Trustee
Ms. Knowles also serves as Trustee of other Fidelity® funds. Prior to her retirement, Ms. Knowles held several positions at Atlantic Richfield Company (diversified energy), including Executive Vice President and Chief Financial Officer (1996-2000), Senior Vice President (1993-1996) and President of ARCO Transportation Company (pipeline and tanker operations, 1993-1996). Ms. Knowles currently serves as a member of the Board of McKesson Corporation (healthcare service, since 2002), a member of the Board of the Santa Catalina Island Company (real estate, 2009-present), a member of the Investment Company Institute Board of Governors and a member of the Governing Council of the Independent Directors Council (2014-present). Ms. Knowles also serves as a member of the Advisory Board for the School of Engineering of the University of Southern California. Ms. Knowles previously served as Chairman (2015-2018) and Vice Chairman (2012-2015) of the Independent Trustees of certain Fidelity® funds.
Mark A. Murray (1954)
Year of Election or Appointment: 2016
Trustee
Mr. Murray also serves as Trustee of other Fidelity® funds. Previously, Mr. Murray served as Co-Chief Executive Officer (2013-2016), President (2006-2013) and Vice Chairman (2013-2020) of Meijer, Inc. Mr. Murray serves as a member of the Board (2009-present) and Public Policy and Responsibility Committee (2009-present) and Chair of the Nuclear Review Committee (2019-present) of DTE Energy Company (diversified energy company). Mr. Murray previously served as a member of the Board of Spectrum Health (not-for-profit health system, 2015-2019) and as a member of the Board and Audit Committee and Chairman of the Nominating and Corporate Governance Committee of Universal Forest Products, Inc. (manufacturer and distributor of wood and wood-alternative products, 2004-2016). Mr. Murray also serves as a member of the Board of many community and professional organizations. Mr. Murray previously served as a member of the Advisory Board of certain Fidelity® funds (2016).
+ The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for each fund.
Advisory Board Members and Officers:
Correspondence intended for an officer may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210. Officers appear below in alphabetical order.
Name, Year of Birth; Principal Occupation
Craig S. Brown (1977)
Year of Election or Appointment: 2019
Assistant Treasurer
Mr. Brown also serves as Assistant Treasurer of other funds. Mr. Brown is an employee of Fidelity Investments (2013-present).
John J. Burke III (1964)
Year of Election or Appointment: 2018
Chief Financial Officer
Mr. Burke also serves as Chief Financial Officer of other funds. Mr. Burke serves as Head of Investment Operations for Fidelity Fund and Investment Operations (2018-present) and is an employee of Fidelity Investments (1998-present). Previously Mr. Burke served as head of Asset Management Investment Operations (2012-2018).
David J. Carter (1973)
Year of Election or Appointment: 2020
Assistant Secretary
Mr. Carter also serves as Assistant Secretary of other funds. Mr. Carter serves as Vice President, Associate General Counsel (2010-present) and is an employee of Fidelity Investments (2005-present).
Jonathan Davis (1968)
Year of Election or Appointment: 2010
Assistant Treasurer
Mr. Davis also serves as Assistant Treasurer of other funds. Mr. Davis serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments. Previously, Mr. Davis served as Vice President and Associate General Counsel of FMR LLC (diversified financial services company, 2003-2010).
Laura M. Del Prato (1964)
Year of Election or Appointment: 2018
President and Treasurer
Ms. Del Prato also serves as an officer of other funds. Ms. Del Prato is an employee of Fidelity Investments (2017-present). Previously, Ms. Del Prato served as President and Treasurer of The North Carolina Capital Management Trust: Cash Portfolio and Term Portfolio (2018-2020). Prior to joining Fidelity Investments, Ms. Del Prato served as a Managing Director and Treasurer of the JPMorgan Mutual Funds (2014-2017). Prior to JPMorgan, Ms. Del Prato served as a partner at Cohen Fund Audit Services (accounting firm, 2012-2013) and KPMG LLP (accounting firm, 2004-2012).
Colm A. Hogan (1973)
Year of Election or Appointment: 2016
Assistant Treasurer
Mr. Hogan also serves as an officer of other funds. Mr. Hogan serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2005-present). Previously, Mr. Hogan served as Deputy Treasurer of certain Fidelity® funds (2016-2020) and Assistant Treasurer of certain Fidelity® funds (2016-2018).
Cynthia Lo Bessette (1969)
Year of Election or Appointment: 2019
Secretary and Chief Legal Officer (CLO)
Ms. Lo Bessette also serves as an officer of other funds. Ms. Lo Bessette serves as CLO, Secretary, and Senior Vice President of Fidelity Management & Research Company LLC (investment adviser firm, 2019-present); and CLO of Fidelity Management & Research (Hong Kong) Limited, FMR Investment Management (UK) Limited, and Fidelity Management & Research (Japan) Limited (investment adviser firms, 2019-present). She is a Senior Vice President and Deputy General Counsel of FMR LLC (diversified financial services company, 2019-present), and is an employee of Fidelity Investments. Previously, Ms. Lo Bessette served as CLO, Secretary, and Senior Vice President of FMR Co., Inc. (investment adviser firm, 2019); Secretary of Fidelity SelectCo, LLC and Fidelity Investments Money Management, Inc. (investment adviser firms, 2019). Prior to joining Fidelity Investments, Ms. Lo Bessette was Executive Vice President, General Counsel (2016-2019) and Senior Vice President, Deputy General Counsel (2015-2016) of OppenheimerFunds (investment management company) and Deputy Chief Legal Officer (2013-2015) of Jennison Associates LLC (investment adviser firm).
Chris Maher (1972)
Year of Election or Appointment: 2013
Assistant Treasurer
Mr. Maher also serves as an officer of other funds. Mr. Maher serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), and is an employee of Fidelity Investments (2008-present). Previously, Mr. Maher served as Assistant Treasurer of certain funds (2013-2020); Vice President of Asset Management Compliance (2013), Vice President of the Program Management Group of FMR (investment adviser firm, 2010-2013), and Vice President of Valuation Oversight (2008-2010).
Kenneth B. Robins (1969)
Year of Election or Appointment: 2020
Chief Compliance Officer
Mr. Robins also serves as an officer of other funds. Mr. Robins serves as Compliance Officer of Fidelity Management & Research Company LLC (investment adviser firm, 2016-present) and is an employee of Fidelity Investments (2004-present). Previously, Mr. Robins served as Compliance Officer of FMR Co., Inc. (investment adviser firm, 2016-2019), as Executive Vice President of Fidelity Investments Money Management, Inc. (investment adviser firm, 2013-2016) and served in other fund officer roles.
Brett Segaloff (1972)
Year of Election or Appointment: 2021
Anti-Money Laundering (AML) Officer
Mr. Segaloff also serves as an AML Officer of other funds and other related entities. He is Director, Anti-Money Laundering (2007-present) of FMR LLC (diversified financial services company) and is an employee of Fidelity Investments (1996-present).
Stacie M. Smith (1974)
Year of Election or Appointment: 2013
Assistant Treasurer
Ms. Smith also serves as an officer of other funds. Ms. Smith serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), is an employee of Fidelity Investments (2009-present), and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Smith served as Senior Audit Manager of Ernst & Young LLP (accounting firm, 1996-2009). Previously, Ms. Smith served as Assistant Treasurer (2013-2019) and Deputy Treasurer (2013-2016) of certain Fidelity® funds.
Marc L. Spector (1972)
Year of Election or Appointment: 2016
Deputy Treasurer
Mr. Spector also serves as an officer of other funds. Mr. Spector serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2016-present). Prior to joining Fidelity Investments, Mr. Spector served as Director at the Siegfried Group (accounting firm, 2013-2016), and prior to Siegfried Group as audit senior manager at Deloitte & Touche LLP (accounting firm, 2005-2013).
Jim Wegmann (1979)
Year of Election or Appointment: 2019
Assistant Treasurer
Mr. Wegmann also serves as Assistant Treasurer of other funds. Mr. Wegmann is an employee of Fidelity Investments (2011-present).
Vadim Zlotnikov (1962)
Year of Election or Appointment: 2019
Vice President
Mr. Zlotnikov also serves as Vice President of other funds. Mr. Zlotnikov serves as President of FIAM (Fidelity Institutional Asset Management) and is an employee of Fidelity Investments (2018-present). Previously, Mr. Zlotnikov served as President and Chief Investment Officer of Global Asset Allocation (2018-2020). Prior to joining Fidelity Investments, Mr. Zlotnikov served as Co-Head of Multi-Asset Solutions, Chief Market Strategist, and CIO of Systematic Strategies with AllianceBernstein (investment adviser firm, 2002-2018).
Shareholder Expense Example
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (October 1, 2020 to March 31, 2021).
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
| | Annualized Expense Ratio-A | Beginning
Account Value
October 1, 2020 | Ending
Account Value
March 31, 2021 | Expenses Paid
During Period-B
October 1, 2020
to March 31, 2021 |
| Fidelity Freedom Blend Income Fund | | | | |
| Class A | .71% | | | |
| Actual | | $1,000.00 | $1,034.80 | $3.60 |
| Hypothetical-C | | $1,000.00 | $1,021.39 | $3.58 |
| Class M | .96% | | | |
| Actual | | $1,000.00 | $1,033.00 | $4.87 |
| Hypothetical-C | | $1,000.00 | $1,020.14 | $4.84 |
| Class C | 1.46% | | | |
| Actual | | $1,000.00 | $1,030.70 | $7.39 |
| Hypothetical-C | | $1,000.00 | $1,017.65 | $7.34 |
| Fidelity Freedom Blend Income Fund | .46% | | | |
| Actual | | $1,000.00 | $1,036.10 | $2.34 |
| Hypothetical-C | | $1,000.00 | $1,022.64 | $2.32 |
| Class K | .36% | | | |
| Actual | | $1,000.00 | $1,036.50 | $1.83 |
| Hypothetical-C | | $1,000.00 | $1,023.14 | $1.82 |
| Class K6 | .26% | | | |
| Actual | | $1,000.00 | $1,037.00 | $1.32 |
| Hypothetical-C | | $1,000.00 | $1,023.64 | $1.31 |
| Class I | .46% | | | |
| Actual | | $1,000.00 | $1,036.10 | $2.34 |
| Hypothetical-C | | $1,000.00 | $1,022.64 | $2.32 |
| Class Z | .36% | | | |
| Actual | | $1,000.00 | $1,036.40 | $1.83 |
| Hypothetical-C | | $1,000.00 | $1,023.14 | $1.82 |
| Class Z6 | .26% | | | |
| Actual | | $1,000.00 | $1,037.00 | $1.32 |
| Hypothetical-C | | $1,000.00 | $1,023.64 | $1.31 |
| Fidelity Freedom Blend 2005 Fund | | | | |
| Class A | .71% | | | |
| Actual | | $1,000.00 | $1,046.30 | $3.62 |
| Hypothetical-C | | $1,000.00 | $1,021.39 | $3.58 |
| Class M | .96% | | | |
| Actual | | $1,000.00 | $1,045.30 | $4.90 |
| Hypothetical-C | | $1,000.00 | $1,020.14 | $4.84 |
| Class C | 1.46% | | | |
| Actual | | $1,000.00 | $1,042.30 | $7.43 |
| Hypothetical-C | | $1,000.00 | $1,017.65 | $7.34 |
| Fidelity Freedom Blend 2005 Fund | .46% | | | |
| Actual | | $1,000.00 | $1,047.40 | $2.35 |
| Hypothetical-C | | $1,000.00 | $1,022.64 | $2.32 |
| Class K | .36% | | | |
| Actual | | $1,000.00 | $1,048.30 | $1.84 |
| Hypothetical-C | | $1,000.00 | $1,023.14 | $1.82 |
| Class K6 | .26% | | | |
| Actual | | $1,000.00 | $1,049.30 | $1.33 |
| Hypothetical-C | | $1,000.00 | $1,023.64 | $1.31 |
| Class I | .46% | | | |
| Actual | | $1,000.00 | $1,048.40 | $2.35 |
| Hypothetical-C | | $1,000.00 | $1,022.64 | $2.32 |
| Class Z | .36% | | | |
| Actual | | $1,000.00 | $1,048.20 | $1.84 |
| Hypothetical-C | | $1,000.00 | $1,023.14 | $1.82 |
| Class Z6 | .26% | | | |
| Actual | | $1,000.00 | $1,049.10 | $1.33 |
| Hypothetical-C | | $1,000.00 | $1,023.64 | $1.31 |
| Fidelity Freedom Blend 2010 Fund | | | | |
| Class A | .72% | | | |
| Actual | | $1,000.00 | $1,068.70 | $3.71 |
| Hypothetical-C | | $1,000.00 | $1,021.34 | $3.63 |
| Class M | .97% | | | |
| Actual | | $1,000.00 | $1,067.30 | $5.00 |
| Hypothetical-C | | $1,000.00 | $1,020.09 | $4.89 |
| Class C | 1.47% | | | |
| Actual | | $1,000.00 | $1,064.70 | $7.57 |
| Hypothetical-C | | $1,000.00 | $1,017.60 | $7.39 |
| Fidelity Freedom Blend 2010 Fund | .47% | | | |
| Actual | | $1,000.00 | $1,070.10 | $2.43 |
| Hypothetical-C | | $1,000.00 | $1,022.59 | $2.37 |
| Class K | .37% | | | |
| Actual | | $1,000.00 | $1,070.30 | $1.91 |
| Hypothetical-C | | $1,000.00 | $1,023.09 | $1.87 |
| Class K6 | .27% | | | |
| Actual | | $1,000.00 | $1,070.90 | $1.39 |
| Hypothetical-C | | $1,000.00 | $1,023.59 | $1.36 |
| Class I | .47% | | | |
| Actual | | $1,000.00 | $1,069.80 | $2.43 |
| Hypothetical-C | | $1,000.00 | $1,022.59 | $2.37 |
| Class Z | .37% | | | |
| Actual | | $1,000.00 | $1,070.60 | $1.91 |
| Hypothetical-C | | $1,000.00 | $1,023.09 | $1.87 |
| Class Z6 | .27% | | | |
| Actual | | $1,000.00 | $1,071.30 | $1.39 |
| Hypothetical-C | | $1,000.00 | $1,023.59 | $1.36 |
| Fidelity Freedom Blend 2015 Fund | | | | |
| Class A | .73% | | | |
| Actual | | $1,000.00 | $1,091.00 | $3.81 |
| Hypothetical-C | | $1,000.00 | $1,021.29 | $3.68 |
| Class M | .98% | | | |
| Actual | | $1,000.00 | $1,089.80 | $5.11 |
| Hypothetical-C | | $1,000.00 | $1,020.04 | $4.94 |
| Class C | 1.48% | | | |
| Actual | | $1,000.00 | $1,087.50 | $7.70 |
| Hypothetical-C | | $1,000.00 | $1,017.55 | $7.44 |
| Fidelity Freedom Blend 2015 Fund | .48% | | | |
| Actual | | $1,000.00 | $1,091.70 | $2.50 |
| Hypothetical-C | | $1,000.00 | $1,022.54 | $2.42 |
| Class K | .38% | | | |
| Actual | | $1,000.00 | $1,092.80 | $1.98 |
| Hypothetical-C | | $1,000.00 | $1,023.04 | $1.92 |
| Class K6 | .28% | | | |
| Actual | | $1,000.00 | $1,092.60 | $1.46 |
| Hypothetical-C | | $1,000.00 | $1,023.54 | $1.41 |
| Class I | .48% | | | |
| Actual | | $1,000.00 | $1,093.00 | $2.50 |
| Hypothetical-C | | $1,000.00 | $1,022.54 | $2.42 |
| Class Z | .38% | | | |
| Actual | | $1,000.00 | $1,093.80 | $1.98 |
| Hypothetical-C | | $1,000.00 | $1,023.04 | $1.92 |
| Class Z6 | .28% | | | |
| Actual | | $1,000.00 | $1,093.20 | $1.46 |
| Hypothetical-C | | $1,000.00 | $1,023.54 | $1.41 |
| Fidelity Freedom Blend 2020 Fund | | | | |
| Class A | .74% | | | |
| Actual | | $1,000.00 | $1,112.60 | $3.90 |
| Hypothetical-C | | $1,000.00 | $1,021.24 | $3.73 |
| Class M | .99% | | | |
| Actual | | $1,000.00 | $1,111.70 | $5.21 |
| Hypothetical-C | | $1,000.00 | $1,020.00 | $4.99 |
| Class C | 1.49% | | | |
| Actual | | $1,000.00 | $1,108.20 | $7.83 |
| Hypothetical-C | | $1,000.00 | $1,017.50 | $7.49 |
| Fidelity Freedom Blend 2020 Fund | .49% | | | |
| Actual | | $1,000.00 | $1,113.30 | $2.58 |
| Hypothetical-C | | $1,000.00 | $1,022.49 | $2.47 |
| Class K | .39% | | | |
| Actual | | $1,000.00 | $1,114.50 | $2.06 |
| Hypothetical-C | | $1,000.00 | $1,022.99 | $1.97 |
| Class K6 | .29% | | | |
| Actual | | $1,000.00 | $1,114.90 | $1.53 |
| Hypothetical-C | | $1,000.00 | $1,023.49 | $1.46 |
| Class I | .49% | | | |
| Actual | | $1,000.00 | $1,114.20 | $2.58 |
| Hypothetical-C | | $1,000.00 | $1,022.49 | $2.47 |
| Class Z | .39% | | | |
| Actual | | $1,000.00 | $1,114.10 | $2.06 |
| Hypothetical-C | | $1,000.00 | $1,022.99 | $1.97 |
| Class Z6 | .29% | | | |
| Actual | | $1,000.00 | $1,115.00 | $1.53 |
| Hypothetical-C | | $1,000.00 | $1,023.49 | $1.46 |
| Fidelity Freedom Blend 2025 Fund | | | | |
| Class A | .76% | | | |
| Actual | | $1,000.00 | $1,128.90 | $4.03 |
| Hypothetical-C | | $1,000.00 | $1,021.14 | $3.83 |
| Class M | 1.01% | | | |
| Actual | | $1,000.00 | $1,127.80 | $5.36 |
| Hypothetical-C | | $1,000.00 | $1,019.90 | $5.09 |
| Class C | 1.51% | | | |
| Actual | | $1,000.00 | $1,124.70 | $8.00 |
| Hypothetical-C | | $1,000.00 | $1,017.40 | $7.59 |
| Fidelity Freedom Blend 2025 Fund | .51% | | | |
| Actual | | $1,000.00 | $1,131.00 | $2.71 |
| Hypothetical-C | | $1,000.00 | $1,022.39 | $2.57 |
| Class K | .41% | | | |
| Actual | | $1,000.00 | $1,131.10 | $2.18 |
| Hypothetical-C | | $1,000.00 | $1,022.89 | $2.07 |
| Class K6 | .31% | | | |
| Actual | | $1,000.00 | $1,131.30 | $1.65 |
| Hypothetical-C | | $1,000.00 | $1,023.39 | $1.56 |
| Class I | .51% | | | |
| Actual | | $1,000.00 | $1,130.10 | $2.71 |
| Hypothetical-C | | $1,000.00 | $1,022.39 | $2.57 |
| Class Z | .41% | | | |
| Actual | | $1,000.00 | $1,130.40 | $2.18 |
| Hypothetical-C | | $1,000.00 | $1,022.89 | $2.07 |
| Class Z6 | .31% | | | |
| Actual | | $1,000.00 | $1,131.80 | $1.65 |
| Hypothetical-C | | $1,000.00 | $1,023.39 | $1.56 |
| Fidelity Freedom Blend 2030 Fund | | | | |
| Class A | .77% | | | |
| Actual | | $1,000.00 | $1,150.00 | $4.13 |
| Hypothetical-C | | $1,000.00 | $1,021.09 | $3.88 |
| Class M | 1.02% | | | |
| Actual | | $1,000.00 | $1,148.10 | $5.46 |
| Hypothetical-C | | $1,000.00 | $1,019.85 | $5.14 |
| Class C | 1.52% | | | |
| Actual | | $1,000.00 | $1,144.50 | $8.13 |
| Hypothetical-C | | $1,000.00 | $1,017.35 | $7.64 |
| Fidelity Freedom Blend 2030 Fund | .52% | | | |
| Actual | | $1,000.00 | $1,150.50 | $2.79 |
| Hypothetical-C | | $1,000.00 | $1,022.34 | $2.62 |
| Class K | .42% | | | |
| Actual | | $1,000.00 | $1,151.90 | $2.25 |
| Hypothetical-C | | $1,000.00 | $1,022.84 | $2.12 |
| Class K6 | .32% | | | |
| Actual | | $1,000.00 | $1,152.30 | $1.72 |
| Hypothetical-C | | $1,000.00 | $1,023.34 | $1.61 |
| Class I | .52% | | | |
| Actual | | $1,000.00 | $1,150.60 | $2.79 |
| Hypothetical-C | | $1,000.00 | $1,022.34 | $2.62 |
| Class Z | .42% | | | |
| Actual | | $1,000.00 | $1,151.50 | $2.25 |
| Hypothetical-C | | $1,000.00 | $1,022.84 | $2.12 |
| Class Z6 | .32% | | | |
| Actual | | $1,000.00 | $1,152.60 | $1.72 |
| Hypothetical-C | | $1,000.00 | $1,023.34 | $1.61 |
| Fidelity Freedom Blend 2035 Fund | | | | |
| Class A | .78% | | | |
| Actual | | $1,000.00 | $1,189.50 | $4.26 |
| Hypothetical-C | | $1,000.00 | $1,021.04 | $3.93 |
| Class M | 1.03% | | | |
| Actual | | $1,000.00 | $1,188.10 | $5.62 |
| Hypothetical-C | | $1,000.00 | $1,019.80 | $5.19 |
| Class C | 1.54% | | | |
| Actual | | $1,000.00 | $1,185.60 | $8.39 |
| Hypothetical-C | | $1,000.00 | $1,017.25 | $7.75 |
| Fidelity Freedom Blend 2035 Fund | .53% | | | |
| Actual | | $1,000.00 | $1,190.80 | $2.89 |
| Hypothetical-C | | $1,000.00 | $1,022.29 | $2.67 |
| Class K | .43% | | | |
| Actual | | $1,000.00 | $1,191.90 | $2.35 |
| Hypothetical-C | | $1,000.00 | $1,022.79 | $2.17 |
| Class K6 | .33% | | | |
| Actual | | $1,000.00 | $1,193.00 | $1.80 |
| Hypothetical-C | | $1,000.00 | $1,023.29 | $1.66 |
| Class I | .53% | | | |
| Actual | | $1,000.00 | $1,190.30 | $2.89 |
| Hypothetical-C | | $1,000.00 | $1,022.29 | $2.67 |
| Class Z | .43% | | | |
| Actual | | $1,000.00 | $1,191.40 | $2.35 |
| Hypothetical-C | | $1,000.00 | $1,022.79 | $2.17 |
| Class Z6 | .33% | | | |
| Actual | | $1,000.00 | $1,191.60 | $1.80 |
| Hypothetical-C | | $1,000.00 | $1,023.29 | $1.66 |
| Fidelity Freedom Blend 2040 Fund | | | | |
| Class A | .79% | | | |
| Actual | | $1,000.00 | $1,216.50 | $4.37 |
| Hypothetical-C | | $1,000.00 | $1,020.99 | $3.98 |
| Class M | 1.04% | | | |
| Actual | | $1,000.00 | $1,214.60 | $5.74 |
| Hypothetical-C | | $1,000.00 | $1,019.75 | $5.24 |
| Class C | 1.54% | | | |
| Actual | | $1,000.00 | $1,211.80 | $8.49 |
| Hypothetical-C | | $1,000.00 | $1,017.25 | $7.75 |
| Fidelity Freedom Blend 2040 Fund | .54% | | | |
| Actual | | $1,000.00 | $1,218.00 | $2.99 |
| Hypothetical-C | | $1,000.00 | $1,022.24 | $2.72 |
| Class K | .44% | | | |
| Actual | | $1,000.00 | $1,218.00 | $2.43 |
| Hypothetical-C | | $1,000.00 | $1,022.74 | $2.22 |
| Class K6 | .34% | | | |
| Actual | | $1,000.00 | $1,219.30 | $1.88 |
| Hypothetical-C | | $1,000.00 | $1,023.24 | $1.72 |
| Class I | .54% | | | |
| Actual | | $1,000.00 | $1,218.10 | $2.99 |
| Hypothetical-C | | $1,000.00 | $1,022.24 | $2.72 |
| Class Z | .44% | | | |
| Actual | | $1,000.00 | $1,218.50 | $2.43 |
| Hypothetical-C | | $1,000.00 | $1,022.74 | $2.22 |
| Class Z6 | .34% | | | |
| Actual | | $1,000.00 | $1,219.90 | $1.88 |
| Hypothetical-C | | $1,000.00 | $1,023.24 | $1.72 |
| Fidelity Freedom Blend 2045 Fund | | | | |
| Class A | .79% | | | |
| Actual | | $1,000.00 | $1,216.70 | $4.37 |
| Hypothetical-C | | $1,000.00 | $1,020.99 | $3.98 |
| Class M | 1.04% | | | |
| Actual | | $1,000.00 | $1,214.10 | $5.74 |
| Hypothetical-C | | $1,000.00 | $1,019.75 | $5.24 |
| Class C | 1.54% | | | |
| Actual | | $1,000.00 | $1,212.40 | $8.49 |
| Hypothetical-C | | $1,000.00 | $1,017.25 | $7.75 |
| Fidelity Freedom Blend 2045 Fund | .54% | | | |
| Actual | | $1,000.00 | $1,217.70 | $2.99 |
| Hypothetical-C | | $1,000.00 | $1,022.24 | $2.72 |
| Class K | .44% | | | |
| Actual | | $1,000.00 | $1,218.40 | $2.43 |
| Hypothetical-C | | $1,000.00 | $1,022.74 | $2.22 |
| Class K6 | .34% | | | |
| Actual | | $1,000.00 | $1,219.40 | $1.88 |
| Hypothetical-C | | $1,000.00 | $1,023.24 | $1.72 |
| Class I | .54% | | | |
| Actual | | $1,000.00 | $1,218.20 | $2.99 |
| Hypothetical-C | | $1,000.00 | $1,022.24 | $2.72 |
| Class Z | .44% | | | |
| Actual | | $1,000.00 | $1,218.60 | $2.43 |
| Hypothetical-C | | $1,000.00 | $1,022.74 | $2.22 |
| Class Z6 | .34% | | | |
| Actual | | $1,000.00 | $1,219.10 | $1.88 |
| Hypothetical-C | | $1,000.00 | $1,023.24 | $1.72 |
| Fidelity Freedom Blend 2050 Fund | | | | |
| Class A | .79% | | | |
| Actual | | $1,000.00 | $1,216.50 | $4.37 |
| Hypothetical-C | | $1,000.00 | $1,020.99 | $3.98 |
| Class M | 1.04% | | | |
| Actual | | $1,000.00 | $1,214.00 | $5.74 |
| Hypothetical-C | | $1,000.00 | $1,019.75 | $5.24 |
| Class C | 1.54% | | | |
| Actual | | $1,000.00 | $1,211.30 | $8.49 |
| Hypothetical-C | | $1,000.00 | $1,017.25 | $7.75 |
| Fidelity Freedom Blend 2050 Fund | .54% | | | |
| Actual | | $1,000.00 | $1,218.00 | $2.99 |
| Hypothetical-C | | $1,000.00 | $1,022.24 | $2.72 |
| Class K | .44% | | | |
| Actual | | $1,000.00 | $1,219.00 | $2.43 |
| Hypothetical-C | | $1,000.00 | $1,022.74 | $2.22 |
| Class K6 | .34% | | | |
| Actual | | $1,000.00 | $1,219.10 | $1.88 |
| Hypothetical-C | | $1,000.00 | $1,023.24 | $1.72 |
| Class I | .54% | | | |
| Actual | | $1,000.00 | $1,217.70 | $2.99 |
| Hypothetical-C | | $1,000.00 | $1,022.24 | $2.72 |
| Class Z | .44% | | | |
| Actual | | $1,000.00 | $1,219.20 | $2.43 |
| Hypothetical-C | | $1,000.00 | $1,022.74 | $2.22 |
| Class Z6 | .34% | | | |
| Actual | | $1,000.00 | $1,219.50 | $1.88 |
| Hypothetical-C | | $1,000.00 | $1,023.24 | $1.72 |
| Fidelity Freedom Blend 2055 Fund | | | | |
| Class A | .79% | | | |
| Actual | | $1,000.00 | $1,215.20 | $4.36 |
| Hypothetical-C | | $1,000.00 | $1,020.99 | $3.98 |
| Class M | 1.04% | | | |
| Actual | | $1,000.00 | $1,214.80 | $5.74 |
| Hypothetical-C | | $1,000.00 | $1,019.75 | $5.24 |
| Class C | 1.55% | | | |
| Actual | | $1,000.00 | $1,211.70 | $8.55 |
| Hypothetical-C | | $1,000.00 | $1,017.20 | $7.80 |
| Fidelity Freedom Blend 2055 Fund | .54% | | | |
| Actual | | $1,000.00 | $1,217.60 | $2.99 |
| Hypothetical-C | | $1,000.00 | $1,022.24 | $2.72 |
| Class K | .44% | | | |
| Actual | | $1,000.00 | $1,218.10 | $2.43 |
| Hypothetical-C | | $1,000.00 | $1,022.74 | $2.22 |
| Class K6 | .34% | | | |
| Actual | | $1,000.00 | $1,218.10 | $1.88 |
| Hypothetical-C | | $1,000.00 | $1,023.24 | $1.72 |
| Class I | .54% | | | |
| Actual | | $1,000.00 | $1,217.40 | $2.99 |
| Hypothetical-C | | $1,000.00 | $1,022.24 | $2.72 |
| Class Z | .44% | | | |
| Actual | | $1,000.00 | $1,218.10 | $2.43 |
| Hypothetical-C | | $1,000.00 | $1,022.74 | $2.22 |
| Class Z6 | .34% | | | |
| Actual | | $1,000.00 | $1,219.10 | $1.88 |
| Hypothetical-C | | $1,000.00 | $1,023.24 | $1.72 |
| Fidelity Freedom Blend 2060 Fund | | | | |
| Class A | .79% | | | |
| Actual | | $1,000.00 | $1,215.90 | $4.36 |
| Hypothetical-C | | $1,000.00 | $1,020.99 | $3.98 |
| Class M | 1.04% | | | |
| Actual | | $1,000.00 | $1,214.20 | $5.74 |
| Hypothetical-C | | $1,000.00 | $1,019.75 | $5.24 |
| Class C | 1.54% | | | |
| Actual | | $1,000.00 | $1,210.90 | $8.49 |
| Hypothetical-C | | $1,000.00 | $1,017.25 | $7.75 |
| Fidelity Freedom Blend 2060 Fund | .54% | | | |
| Actual | | $1,000.00 | $1,218.20 | $2.99 |
| Hypothetical-C | | $1,000.00 | $1,022.24 | $2.72 |
| Class K | .44% | | | |
| Actual | | $1,000.00 | $1,218.90 | $2.43 |
| Hypothetical-C | | $1,000.00 | $1,022.74 | $2.22 |
| Class K6 | .34% | | | |
| Actual | | $1,000.00 | $1,218.90 | $1.88 |
| Hypothetical-C | | $1,000.00 | $1,023.24 | $1.72 |
| Class I | .54% | | | |
| Actual | | $1,000.00 | $1,217.10 | $2.98 |
| Hypothetical-C | | $1,000.00 | $1,022.24 | $2.72 |
| Class Z | .44% | | | |
| Actual | | $1,000.00 | $1,218.80 | $2.43 |
| Hypothetical-C | | $1,000.00 | $1,022.74 | $2.22 |
| Class Z6 | .34% | | | |
| Actual | | $1,000.00 | $1,218.30 | $1.88 |
| Hypothetical-C | | $1,000.00 | $1,023.24 | $1.72 |
| Fidelity Freedom Blend 2065 Fund | | | | |
| Class A | .79% | | | |
| Actual | | $1,000.00 | $1,215.70 | $4.36 |
| Hypothetical-C | | $1,000.00 | $1,020.99 | $3.98 |
| Class M | 1.04% | | | |
| Actual | | $1,000.00 | $1,214.50 | $5.74 |
| Hypothetical-C | | $1,000.00 | $1,019.75 | $5.24 |
| Class C | 1.54% | | | |
| Actual | | $1,000.00 | $1,212.00 | $8.49 |
| Hypothetical-C | | $1,000.00 | $1,017.25 | $7.75 |
| Fidelity Freedom Blend 2065 Fund | .54% | | | |
| Actual | | $1,000.00 | $1,217.60 | $2.99 |
| Hypothetical-C | | $1,000.00 | $1,022.24 | $2.72 |
| Class K | .44% | | | |
| Actual | | $1,000.00 | $1,217.60 | $2.43 |
| Hypothetical-C | | $1,000.00 | $1,022.74 | $2.22 |
| Class K6 | .34% | | | |
| Actual | | $1,000.00 | $1,219.20 | $1.88 |
| Hypothetical-C | | $1,000.00 | $1,023.24 | $1.72 |
| Class I | .54% | | | |
| Actual | | $1,000.00 | $1,217.10 | $2.98 |
| Hypothetical-C | | $1,000.00 | $1,022.24 | $2.72 |
| Class Z | .44% | | | |
| Actual | | $1,000.00 | $1,218.10 | $2.43 |
| Hypothetical-C | | $1,000.00 | $1,022.74 | $2.22 |
| Class Z6 | .34% | | | |
| Actual | | $1,000.00 | $1,217.90 | $1.88 |
| Hypothetical-C | | $1,000.00 | $1,023.24 | $1.72 |
A Annualized expense ratio reflects expenses net of applicable fee waivers.
B Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 365 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
C 5% return per year before expenses
Distributions (Unaudited)
The Board of Trustees of each fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities and dividends derived from net investment income:
| | Pay Date | Record Date | Dividends | Capital Gains |
| Fidelity Freedom Blend Income Fund | | | | |
| Class A | 05/10/21 | 05/07/21 | $0.000 | $0.116 |
| Class M | 05/10/21 | 05/07/21 | $0.000 | $0.116 |
| Class C | 05/10/21 | 05/07/21 | $0.000 | $0.116 |
| Fidelity Freedom Blend Income Fund | 05/10/21 | 05/07/21 | $0.005 | $0.116 |
| Premier Class | 05/10/21 | 05/07/21 | $0.007 | $0.116 |
| Class K | 05/10/21 | 05/07/21 | $0.006 | $0.116 |
| Class K6 | 05/10/21 | 05/07/21 | $0.007 | $0.116 |
| Class I | 05/10/21 | 05/07/21 | $0.004 | $0.116 |
| Class Z | 05/10/21 | 05/07/21 | $0.008 | $0.116 |
| Class Z6 | 05/10/21 | 05/07/21 | $0.007 | $0.116 |
| Fidelity Freedom Blend 2005 Fund | | | | |
| Class A | 05/10/21 | 05/07/21 | $0.002 | $0.137 |
| Class M | 05/10/21 | 05/07/21 | $0.000 | $0.133 |
| Class C | 05/10/21 | 05/07/21 | $0.000 | $0.121 |
| Fidelity Freedom Blend 2005 Fund | 05/10/21 | 05/07/21 | $0.012 | $0.137 |
| Premier Class | 05/10/21 | 05/07/21 | $0.016 | $0.137 |
| Class K | 05/10/21 | 05/07/21 | $0.013 | $0.137 |
| Class K6 | 05/10/21 | 05/07/21 | $0.016 | $0.137 |
| Class I | 05/10/21 | 05/07/21 | $0.001 | $0.137 |
| Class Z | 05/10/21 | 05/07/21 | $0.013 | $0.137 |
| Class Z6 | 05/10/21 | 05/07/21 | $0.016 | $0.137 |
| Fidelity Freedom Blend 2010 Fund | | | | |
| Class A | 05/10/21 | 05/07/21 | $0.001 | $0.212 |
| Class M | 05/10/21 | 05/07/21 | $0.000 | $0.207 |
| Class C | 05/10/21 | 05/07/21 | $0.000 | $0.207 |
| Fidelity Freedom Blend 2010 Fund | 05/10/21 | 05/07/21 | $0.010 | $0.212 |
| Premier Class | 05/10/21 | 05/07/21 | $0.014 | $0.212 |
| Class K | 05/10/21 | 05/07/21 | $0.011 | $0.212 |
| Class K6 | 05/10/21 | 05/07/21 | $0.014 | $0.212 |
| Class I | 05/10/21 | 05/07/21 | $0.011 | $0.212 |
| Class Z | 05/10/21 | 05/07/21 | $0.013 | $0.212 |
| Class Z6 | 05/10/21 | 05/07/21 | $0.014 | $0.212 |
| Fidelity Freedom Blend 2015 Fund | | | | |
| Class A | 05/10/21 | 05/07/21 | $0.000 | $0.279 |
| Class M | 05/10/21 | 05/07/21 | $0.001 | $0.279 |
| Class C | 05/10/21 | 05/07/21 | $0.000 | $0.279 |
| Fidelity Freedom Blend 2015 Fund | 05/10/21 | 05/07/21 | $0.006 | $0.279 |
| Premier Class | 05/10/21 | 05/07/21 | $0.011 | $0.279 |
| Class K | 05/10/21 | 05/07/21 | $0.008 | $0.279 |
| Class K6 | 05/10/21 | 05/07/21 | $0.011 | $0.279 |
| Class I | 05/10/21 | 05/07/21 | $0.005 | $0.279 |
| Class Z | 05/10/21 | 05/07/21 | $0.008 | $0.279 |
| Class Z6 | 05/10/21 | 05/07/21 | $0.011 | $0.279 |
| Fidelity Freedom Blend 2020 Fund | | | | |
| Class A | 05/10/21 | 05/07/21 | $0.000 | $0.267 |
| Class M | 05/10/21 | 05/07/21 | $0.000 | $0.262 |
| Class C | 05/10/21 | 05/07/21 | $0.000 | $0.262 |
| Fidelity Freedom Blend 2020 Fund | 05/10/21 | 05/07/21 | $0.006 | $0.270 |
| Premier Class | 05/10/21 | 05/07/21 | $0.010 | $0.270 |
| Class K | 05/10/21 | 05/07/21 | $0.007 | $0.270 |
| Class K6 | 05/10/21 | 05/07/21 | $0.010 | $0.270 |
| Class I | 05/10/21 | 05/07/21 | $0.002 | $0.270 |
| Class Z | 05/10/21 | 05/07/21 | $0.017 | $0.270 |
| Class Z6 | 05/10/21 | 05/07/21 | $0.011 | $0.270 |
| Fidelity Freedom Blend 2025 Fund | | | | |
| Class A | 05/10/21 | 05/07/21 | $0.000 | $0.225 |
| Class M | 05/10/21 | 05/07/21 | $0.000 | $0.218 |
| Class C | 05/10/21 | 05/07/21 | $0.000 | $0.217 |
| Fidelity Freedom Blend 2025 Fund | 05/10/21 | 05/07/21 | $0.002 | $0.232 |
| Premier Class | 05/10/21 | 05/07/21 | $0.007 | $0.232 |
| Class K | 05/10/21 | 05/07/21 | $0.003 | $0.232 |
| Class K6 | 05/10/21 | 05/07/21 | $0.007 | $0.232 |
| Class I | 05/10/21 | 05/07/21 | $0.000 | $0.232 |
| Class Z | 05/10/21 | 05/07/21 | $0.015 | $0.232 |
| Class Z6 | 05/10/21 | 05/07/21 | $0.007 | $0.232 |
| Fidelity Freedom Blend 2030 Fund | | | | |
| Class A | 05/10/21 | 05/07/21 | $0.000 | $0.236 |
| Class M | 05/10/21 | 05/07/21 | $0.000 | $0.228 |
| Class C | 05/10/21 | 05/07/21 | $0.000 | $0.227 |
| Fidelity Freedom Blend 2030 Fund | 05/10/21 | 05/07/21 | $0.000 | $0.242 |
| Premier Class | 05/10/21 | 05/07/21 | $0.005 | $0.243 |
| Class K | 05/10/21 | 05/07/21 | $0.001 | $0.243 |
| Class K6 | 05/10/21 | 05/07/21 | $0.005 | $0.243 |
| Class I | 05/10/21 | 05/07/21 | $0.000 | $0.241 |
| Class Z | 05/10/21 | 05/07/21 | $0.013 | $0.243 |
| Class Z6 | 05/10/21 | 05/07/21 | $0.004 | $0.243 |
| Fidelity Freedom Blend 2035 Fund | | | | |
| Class A | 05/10/21 | 05/07/21 | $0.000 | $0.253 |
| Class M | 05/10/21 | 05/07/21 | $0.000 | $0.252 |
| Class C | 05/10/21 | 05/07/21 | $0.000 | $0.252 |
| Fidelity Freedom Blend 2035 Fund | 05/10/21 | 05/07/21 | $0.000 | $0.260 |
| Premier Class | 05/10/21 | 05/07/21 | $0.000 | $0.266 |
| Class K | 05/10/21 | 05/07/21 | $0.000 | $0.262 |
| Class K6 | 05/10/21 | 05/07/21 | $0.000 | $0.266 |
| Class I | 05/10/21 | 05/07/21 | $0.000 | $0.260 |
| Class Z | 05/10/21 | 05/07/21 | $0.000 | $0.272 |
| Class Z6 | 05/10/21 | 05/07/21 | $0.000 | $0.267 |
| Fidelity Freedom Blend 2040 Fund | | | | |
| Class A | 05/10/21 | 05/07/21 | $0.000 | $0.273 |
| Class M | 05/10/21 | 05/07/21 | $0.000 | $0.272 |
| Class C | 05/10/21 | 05/07/21 | $0.000 | $0.272 |
| Fidelity Freedom Blend 2040 Fund | 05/10/21 | 05/07/21 | $0.000 | $0.279 |
| Premier Class | 05/10/21 | 05/07/21 | $0.000 | $0.285 |
| Class K | 05/10/21 | 05/07/21 | $0.000 | $0.281 |
| Class K6 | 05/10/21 | 05/07/21 | $0.000 | $0.285 |
| Class I | 05/10/21 | 05/07/21 | $0.000 | $0.280 |
| Class Z | 05/10/21 | 05/07/21 | $0.000 | $0.294 |
| Class Z6 | 05/10/21 | 05/07/21 | $0.000 | $0.285 |
| Fidelity Freedom Blend 2045 Fund | | | | |
| Class A | 05/10/21 | 05/07/21 | $0.000 | $0.272 |
| Class M | 05/10/21 | 05/07/21 | $0.000 | $0.272 |
| Class C | 05/10/21 | 05/07/21 | $0.000 | $0.272 |
| Fidelity Freedom Blend 2045 Fund | 05/10/21 | 05/07/21 | $0.000 | $0.277 |
| Premier Class | 05/10/21 | 05/07/21 | $0.000 | $0.283 |
| Class K | 05/10/21 | 05/07/21 | $0.000 | $0.279 |
| Class K6 | 05/10/21 | 05/07/21 | $0.000 | $0.283 |
| Class I | 05/10/21 | 05/07/21 | $0.000 | $0.277 |
| Class Z | 05/10/21 | 05/07/21 | $0.000 | $0.292 |
| Class Z6 | 05/10/21 | 05/07/21 | $0.000 | $0.283 |
| Fidelity Freedom Blend 2050 Fund | | | | |
| Class A | 05/10/21 | 05/07/21 | $0.000 | $0.262 |
| Class M | 05/10/21 | 05/07/21 | $0.000 | $0.261 |
| Class C | 05/10/21 | 05/07/21 | $0.000 | $0.261 |
| Fidelity Freedom Blend 2050 Fund | 05/10/21 | 05/07/21 | $0.000 | $0.267 |
| Premier Class | 05/10/21 | 05/07/21 | $0.000 | $0.273 |
| Class K | 05/10/21 | 05/07/21 | $0.000 | $0.269 |
| Class K6 | 05/10/21 | 05/07/21 | $0.000 | $0.273 |
| Class I | 05/10/21 | 05/07/21 | $0.000 | $0.269 |
| Class Z | 05/10/21 | 05/07/21 | $0.000 | $0.279 |
| Class Z6 | 05/10/21 | 05/07/21 | $0.000 | $0.273 |
| Fidelity Freedom Blend 2055 Fund | | | | |
| Class A | 05/10/21 | 05/07/21 | $0.000 | $0.256 |
| Class M | 05/10/21 | 05/07/21 | $0.000 | $0.256 |
| Class C | 05/10/21 | 05/07/21 | $0.000 | $0.256 |
| Fidelity Freedom Blend 2055 Fund | 05/10/21 | 05/07/21 | $0.000 | $0.261 |
| Premier Class | 05/10/21 | 05/07/21 | $0.000 | $0.267 |
| Class K | 05/10/21 | 05/07/21 | $0.000 | $0.263 |
| Class K6 | 05/10/21 | 05/07/21 | $0.000 | $0.267 |
| Class I | 05/10/21 | 05/07/21 | $0.000 | $0.264 |
| Class Z | 05/10/21 | 05/07/21 | $0.000 | $0.271 |
| Class Z6 | 05/10/21 | 05/07/21 | $0.000 | $0.268 |
| Fidelity Freedom Blend 2060 Fund | | | | |
| Class A | 05/10/21 | 05/07/21 | $0.000 | $0.240 |
| Class M | 05/10/21 | 05/07/21 | $0.000 | $0.240 |
| Class C | 05/10/21 | 05/07/21 | $0.000 | $0.240 |
| Fidelity Freedom Blend 2060 Fund | 05/10/21 | 05/07/21 | $0.000 | $0.242 |
| Premier Class | 05/10/21 | 05/07/21 | $0.000 | $0.248 |
| Class K | 05/10/21 | 05/07/21 | $0.000 | $0.245 |
| Class K6 | 05/10/21 | 05/07/21 | $0.000 | $0.248 |
| Class I | 05/10/21 | 05/07/21 | $0.000 | $0.246 |
| Class Z | 05/10/21 | 05/07/21 | $0.000 | $0.250 |
| Class Z6 | 05/10/21 | 05/07/21 | $0.000 | $0.249 |
| Fidelity Freedom Blend 2065 Fund | | | | |
| Class A | 05/10/21 | 05/07/21 | $0.000 | $0.166 |
| Class M | 05/10/21 | 05/07/21 | $0.000 | $0.166 |
| Class C | 05/10/21 | 05/07/21 | $0.000 | $0.166 |
| Fidelity Freedom Blend 2065 Fund | 05/10/21 | 05/07/21 | $0.000 | $0.166 |
| Premier Class | 05/10/21 | 05/07/21 | $0.000 | $0.174 |
| Class K | 05/10/21 | 05/07/21 | $0.000 | $0.167 |
| Class K6 | 05/10/21 | 05/07/21 | $0.000 | $0.174 |
| Class I | 05/10/21 | 05/07/21 | $0.000 | $0.171 |
| Class Z | 05/10/21 | 05/07/21 | $0.000 | $0.167 |
| Class Z6 | 05/10/21 | 05/07/21 | $0.000 | $0.172 |
|
The funds hereby designate as capital gain dividend the amounts noted below for the taxable year ended March 31, 2021, or, if subsequently determined to be different, the net capital gain of such year.
| Fidelity Freedom Blend Income Fund | $ 953,451 |
| Fidelity Freedom Blend 2005 Fund | $ 424,760 |
| Fidelity Freedom Blend 2010 Fund | $ 2,300,249 |
| Fidelity Freedom Blend 2015 Fund | $ 8,963,642 |
| Fidelity Freedom Blend 2020 Fund | $ 29,235,046 |
| Fidelity Freedom Blend 2025 Fund | $ 39,639,080 |
| Fidelity Freedom Blend 2030 Fund | $ 44,033,900 |
| Fidelity Freedom Blend 2035 Fund | $ 45,994,682 |
| Fidelity Freedom Blend 2040 Fund | $ 44,264,071 |
| Fidelity Freedom Blend 2045 Fund | $ 37,920,873 |
| Fidelity Freedom Blend 2050 Fund | $ 30,226,868 |
| Fidelity Freedom Blend 2055 Fund | $ 15,588,563 |
| Fidelity Freedom Blend 2060 Fund | $ 4,769,365 |
| Fidelity Freedom Blend 2065 Fund | $ 336,537 |
|
A percentage of the dividends distributed during the fiscal year for the following funds were derived from interest on U.S. Government securities which is generally exempt from state income tax:
| Fidelity Freedom Blend Income Fund | 26.37% |
| Fidelity Freedom Blend 2005 Fund | 23.08% |
| Fidelity Freedom Blend 2010 Fund | 18.54% |
| Fidelity Freedom Blend 2015 Fund | 15.18% |
| Fidelity Freedom Blend 2020 Fund | 12.51% |
| Fidelity Freedom Blend 2025 Fund | 10.82% |
| Fidelity Freedom Blend 2030 Fund | 9.06% |
| Fidelity Freedom Blend 2035 Fund | 5.83% |
| Fidelity Freedom Blend 2040 Fund | 4.33% |
| Fidelity Freedom Blend 2045 Fund | 4.36% |
| Fidelity Freedom Blend 2050 Fund | 4.33% |
| Fidelity Freedom Blend 2055 Fund | 4.31% |
| Fidelity Freedom Blend 2060 Fund | 4.29% |
| Fidelity Freedom Blend 2065 Fund | 4.30% |
|
A percentage of the dividends distributed during the fiscal year for the following funds qualify for the dividends–received deduction for corporate shareholders:
| | Class A | Class M | Class C | Fidelity Freedom Blend Class | Class K | Class K6 | Class I | Class Z | Class Z6 |
| Fidelity Freedom Blend Income Fund | | | | | | | | | |
| | | | | | | | | | |
| May 1,2020 | 0% | 1% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| May 8,2020 | 5% | 5% | 5% | 5% | 5% | 5% | 5% | 5% | 5% |
| June 2020 | 8% | 17% | 0% | 6% | 6% | 5% | 6% | 6% | 5% |
| July 2020 | 8% | 20% | 0% | 7% | 7% | 5% | 7% | 6% | 7% |
| August 2020 | 12% | 0% | 0% | 7% | 6% | 5% | 7% | 4% | 5% |
| September 2020 | 12% | 18% | 0% | 6% | 6% | 5% | 4% | 5% | 5% |
| October 2020 | 9% | 15% | 8% | 6% | 6% | 5% | 6% | 6% | 5% |
| November 2020 | 15% | 0% | 0% | 7% | 6% | 5% | 6% | 6% | 5% |
| December 2020 | 6% | 6% | 6% | 5% | 5% | 5% | 5% | 5% | 5% |
| February 2021 | 0% | 0% | 0% | 7% | 5% | 4% | 7% | 5% | 4% |
| March 2021 | 0% | 0% | 0% | 5% | 5% | 4% | 8% | 5% | 4% |
| Fidelity Freedom Blend 2005 Fund | | | | | | | | | |
| May 2020 | 2% | 3% | 2% | 1% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 9% | 10% | 13% | 8% | 7% | 7% | 8% | 8% | 7% |
| Fidelity Freedom Blend 2010 Fund | | | | | | | | | |
| May 2020 | 1% | 1% | 2% | 1% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 13% | 15% | 16% | 12% | 12% | 11% | 12% | 11% | 11% |
| Fidelity Freedom Blend 2015 Fund | | | | | | | | | |
| May 2020 | 2% | 3% | 3% | 2% | 2% | 2% | 2% | 2% | 2% |
| December 2020 | 17% | 18% | 25% | 16% | 15% | 15% | 16% | 15% | 14% |
| Fidelity Freedom Blend 2020 Fund | | | | | | | | | |
| May 2020 | 4% | 5% | 6% | 3% | 3% | 3% | 3% | 3% | 3% |
| December 2020 | 20% | 22% | 29% | 19% | 19% | 18% | 19% | 19% | 18% |
| Fidelity Freedom Blend 2025 Fund | | | | | | | | | |
| May 2020 | 7% | 11% | 16% | 5% | 5% | 4% | 4% | 5% | 4% |
| December 2020 | 22% | 28% | 33% | 21% | 20% | 20% | 22% | 21% | 20% |
| Fidelity Freedom Blend 2030 Fund | | | | | | | | | |
| May 2020 | 14% | 0% | 9% | 8% | 8% | 7% | 8% | 7% | 7% |
| December 2020 | 24% | 28% | 36% | 24% | 23% | 23% | 24% | 24% | 22% |
| Fidelity Freedom Blend 2035 Fund | | | | | | | | | |
| May 2020 | 38% | 0% | 0% | 12% | 14% | 11% | 11% | 14% | 10% |
| December 2020 | 33% | 33% | 40% | 31% | 30% | 30% | 32% | 31% | 29% |
| Fidelity Freedom Blend 2040 Fund | | | | | | | | | |
| May 2020 | 75% | 0% | 0% | 28% | 32% | 22% | 25% | 37% | 17% |
| December 2020 | 39% | 44% | 52% | 37% | 36% | 35% | 37% | 37% | 34% |
| Fidelity Freedom Blend 2045 Fund | | | | | | | | | |
| May 2020 | 70% | 93% | 0% | 23% | 28% | 21% | 23% | 28% | 16% |
| December 2020 | 41% | 47% | 49% | 38% | 36% | 35% | 37% | 37% | 34% |
| Fidelity Freedom Blend 2050 Fund | | | | | | | | | |
| May 2020 | 100% | 0% | 0% | 24% | 36% | 21% | 43% | 36% | 16% |
| December 2020 | 40% | 45% | 56% | 36% | 36% | 35% | 37% | 36% | 34% |
| Fidelity Freedom Blend 2055 Fund | | | | | | | | | |
| May 2020 | 0% | 0% | 0% | 34% | 85% | 28% | 100% | 85% | 21% |
| December 2020 | 38% | 42% | 53% | 36% | 35% | 34% | 37% | 36% | 33% |
| Fidelity Freedom Blend 2060 Fund | | | | | | | | | |
| May 2020 | 0% | 0% | 0% | 0% | 0% | 40% | 0% | 0% | 30% |
| December 2020 | 40% | 43% | 56% | 37% | 35% | 34% | 37% | 36% | 33% |
| Fidelity Freedom Blend 2065 Fund | | | | | | | | | |
| May 2020 | 0% | 0% | 0% | 0% | 0% | 50% | 0% | 0% | 0% |
| December 2020 | 39% | 45% | 60% | 36% | 35% | 32% | 36% | 36% | 32% |
|
A percentage of the dividends distributed during the fiscal year for the following funds may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.
| | Class A | Class M | Class C | Fidelity Freedom Blend Class | Class K | Class K6 | Class I | Class Z | Class Z6 |
| Fidelity Freedom Blend Income Fund | | | | | | | | | |
| May 1, 2020 | 2% | 2% | 0% | 1% | 1% | 1% | 1% | 1% | 1% |
| May 8, 2020 | 15% | 15% | 15% | 15% | 15% | 15% | 15% | 15% | 15% |
| June 2020 | 24% | 0% | 0% | 18% | 0% | 0% | 0% | 0% | 0% |
| July 2020 | 23% | 17% | 15% | 19% | 16% | 16% | 16% | 16% | 16% |
| August 2020 | 33% | 48% | 0% | 20% | 16% | 15% | 18% | 17% | 15% |
| September 2020 | 33% | 57% | 0% | 17% | 19% | 15% | 19% | 11% | 19% |
| October 2020 | 26% | 0% | 0% | 18% | 17% | 15% | 20% | 15% | 15% |
| November 2020 | 42% | 50% | 0% | 21% | 17% | 15% | 13% | 16% | 15% |
| December 2020 | 16% | 42% | 21% | 15% | 16% | 14% | 16% | 17% | 14% |
| February 2021 | 0% | 0% | 0% | 7% | 5% | 3% | 7% | 5% | 3% |
| March 2021 | 0% | 0% | 0% | 5% | 5% | 4% | 7% | 5% | 4% |
| Fidelity Freedom Blend 2005 Fund | | | | | | | | | |
| May 2020 | 4% | 7% | 4% | 3% | 3% | 3% | 3% | 3% | 3% |
| December 2020 | 24% | 26% | 32% | 19% | 18% | 18% | 19% | 19% | 18% |
| Fidelity Freedom Blend 2010 Fund | | | | | | | | | |
| May 2020 | 2% | 2% | 4% | 2% | 2% | 2% | 2% | 2% | 2% |
| December 2020 | 29% | 34% | 36% | 26% | 26% | 25% | 27% | 25% | 24% |
| Fidelity Freedom Blend 2015 Fund | | | | | | | | | |
| May 2020 | 5% | 6% | 5% | 4% | 4% | 4% | 4% | 4% | 4% |
| December 2020 | 37% | 37% | 53% | 33% | 32% | 31% | 34% | 32% | 30% |
| Fidelity Freedom Blend 2020 Fund | | | | | | | | | |
| May 2020 | 7% | 8% | 9% | 5% | 5% | 5% | 5% | 5% | 5% |
| December 2020 | 41% | 44% | 58% | 39% | 38% | 37% | 39% | 39% | 37% |
| Fidelity Freedom Blend 2025 Fund | | | | | | | | | |
| May 2020 | 10% | 16% | 22% | 7% | 7% | 6% | 6% | 7% | 6% |
| December 2020 | 45% | 55% | 66% | 42% | 41% | 40% | 44% | 42% | 39% |
| Fidelity Freedom Blend 2030 Fund | | | | | | | | | |
| May 2020 | 19% | 0% | 12% | 11% | 11% | 10% | 10% | 10% | 9% |
| December 2020 | 48% | 56% | 70% | 48% | 46% | 45% | 47% | 47% | 44% |
| Fidelity Freedom Blend 2035 Fund | | | | | | | | | |
| May 2020 | 45% | 0% | 0% | 14% | 16% | 14% | 14% | 16% | 12% |
| December 2020 | 64% | 64% | 78% | 59% | 59% | 57% | 61% | 59% | 56% |
| Fidelity Freedom Blend 2040 Fund | | | | | | | | | |
| May 2020 | 83% | 0% | 0% | 31% | 36% | 25% | 28% | 42% | 20% |
| December 2020 | 76% | 84% | 99% | 71% | 70% | 67% | 71% | 70% | 65% |
| Fidelity Freedom Blend 2045 Fund | | | | | | | | | |
| May 2020 | 87% | 100% | 0% | 29% | 35% | 27% | 29% | 35% | 21% |
| December 2020 | 79% | 89% | 94% | 72% | 69% | 67% | 71% | 70% | 65% |
| Fidelity Freedom Blend 2050 Fund | | | | | | | | | |
| May 2020 | 100% | 0% | 0% | 25% | 37% | 22% | 44% | 37% | 17% |
| December 2020 | 76% | 86% | 100% | 69% | 69% | 67% | 70% | 70% | 66% |
| Fidelity Freedom Blend 2055 Fund | | | | | | | | | |
| May 2020 | 0% | 0% | 0% | 38% | 93% | 31% | 100% | 93% | 24% |
| December 2020 | 73% | 81% | 100% | 70% | 67% | 66% | 70% | 69% | 64% |
| Fidelity Freedom Blend 2060 Fund | | | | | | | | | |
| May 2020 | 0% | 0% | 0% | 0% | 0% | 69% | 0% | 0% | 52% |
| December 2020 | 78% | 83% | 100% | 71% | 67% | 66% | 71% | 70% | 64% |
| Fidelity Freedom Blend 2065 Fund | | | | | | | | | |
| May 2020 | 0% | 0% | 0% | 0% | 0% | 55% | 0% | 0% | 0% |
| December 2020 | 76% | 89% | 100% | 70% | 69% | 64% | 71% | 70% | 64% |
|
A percentage of the dividends distributed during the fiscal year for the following funds qualify as a section 199A dividend:
| | Class A | Class M | Class C | Fidelity Freedom Blend Class | Class K | Class K6 | Class I | Class Z | Class Z6 |
| Fidelity Freedom Blend Income Fund | | | | | | | | | |
| May 1,2020 | 1% | 1% | 0% | 1% | 1% | 1% | 1% | 1% | 1% |
| May 8,2020 | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% |
| June 2020 | 2% | 3% | 0% | 1% | 1% | 1% | 1% | 1% | 1% |
| July 2020 | 2% | 3% | 0% | 1% | 1% | 1% | 1% | 1% | 1% |
| August 2020 | 2% | 0% | 0% | 2% | 1% | 1% | 2% | 1% | 1% |
| September 2020 | 2% | 3% | 0% | 1% | 1% | 1% | 1% | 1% | 1% |
| October 2020 | 2% | 3% | 2% | 1% | 1% | 1% | 1% | 1% | 1% |
| November 2020 | 3% | 0% | 0% | 2% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% |
| Fidelity Freedom Blend 2005 Fund | | | | | | | | | |
| May 2020 | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 2% | 2% | 2% | 1% | 1% | 1% | 1% | 1% | 1% |
| Fidelity Freedom Blend 2010 Fund | | | | | | | | | |
| May 2020 | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 2% | 2% | 2% | 2% | 2% | 1% | 2% | 2% | 1% |
| Fidelity Freedom Blend 2015 Fund | | | | | | | | | |
| May 2020 | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 2% |
| Fidelity Freedom Blend 2020 Fund | | | | | | | | | |
| May 2020 | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 2% | 2% | 3% | 2% | 2% | 2% | 2% | 2% | 2% |
| Fidelity Freedom Blend 2025 Fund | | | | | | | | | |
| May 2020 | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 2% | 2% | 3% | 2% | 2% | 2% | 2% | 2% | 2% |
| Fidelity Freedom Blend 2030 Fund | | | | | | | | | |
| May 2020 | 1% | 0% | 1% | 1% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 2% | 2% | 3% | 2% | 2% | 2% | 2% | 2% | 2% |
| Fidelity Freedom Blend 2035 Fund | | | | | | | | | |
| May 2020 | 1% | 0% | 0% | 1% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 3% | 3% | 3% | 2% | 2% | 2% | 2% | 2% | 2% |
| Fidelity Freedom Blend 2040 Fund | | | | | | | | | |
| May 2020 | 1% | 0% | 0% | 1% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 3% | 3% | 2% | 3% | 3% | 3% | 3% | 3% | 3% |
| Fidelity Freedom Blend 2045 Fund | | | | | | | | | |
| May 2020 | 2% | 0% | 0% | 1% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% |
| Fidelity Freedom Blend 2050 Fund | | | | | | | | | |
| May 2020 | 0% | 0% | 0% | 1% | 1% | 1% | 1% | 1% | 1% |
| December 2020 | 3% | 3% | 5% | 3% | 3% | 3% | 3% | 3% | 3% |
| Fidelity Freedom Blend 2055 Fund | | | | | | | | | |
| May 2020 | 0% | 0% | 0% | 1% | 1% | 1% | 0% | 1% | 1% |
| December 2020 | 3% | 3% | 0% | 3% | 3% | 3% | 3% | 3% | 3% |
| Fidelity Freedom Blend 2060 Fund | | | | | | | | | |
| May 2020 | 0% | 0% | 0% | 0% | 0% | 2% | 0% | 0% | 2% |
| December 2020 | 3% | 3% | 0% | 3% | 3% | 3% | 3% | 3% | 3% |
| Fidelity Freedom Blend 2065 Fund | | | | | | | | | |
| May 2020 | 0% | 0% | 0% | 0% | 0% | 1% | 0% | 0% | 0% |
| December 2020 | 3% | 3% | 0% | 3% | 3% | 3% | 3% | 3% | 3% |
|
The funds will notify shareholders in January 2022 of amounts for use in preparing 2021 income tax returns.
Board Approval of Investment Advisory Contracts and Management Fees
Fidelity Freedom Blend Funds
At its January 2021 meeting, the Board of Trustees, including the Independent Trustees (together, the Board), voted to approve the amended and restated management contract (the Amended Advisory Contract) with Fidelity Management & Research Company LLC (FMR) for each of the Fidelity Freedom Blend funds to add the fee schedule for the new Premier Class of each fund. The Board, assisted by the advice of fund counsel and Independent Trustees' counsel, considered a broad range of information.
Nature, Extent, and Quality of Services Provided. The Board noted that it previously received and considered materials relating to the nature, extent and quality of services provided by FMR, including the resources dedicated to investment management and support services, shareholder and administrative services, the benefits to shareholders of investment in a large fund family, and each fund's performance in connection with the annual renewal of each fund's current management contract (though the Board did not assign significant weight to the Freedom Blend 2065 Fund as it had only recently commenced operations). At its September 2020 meeting, the Board concluded that the nature, extent and quality of the services provided to each fund under the existing management contract should benefit the fund's shareholders. The Board further noted that approval of the Amended Contract would not change the fund's investment processes, the level or nature of services provided, the resources and personnel allocated or trading and compliance operations, or any fees or expenses paid by the funds. The Board concluded that the nature, extent, and quality of services to be provided to each fund under the Amended Contract will continue to benefit the fund's shareholders.
Competitiveness of Management Fee and Total Expense Ratio .. The Board considered each fund's management fee and total expense ratio compared to "mapped groups" of competitive funds and classes created for the purpose of facilitating the Trustees' competitive analysis of management fees and total expenses. Fidelity creates "mapped groups" by combining similar Lipper investment objective categories that have comparable investment mandates. Combining Lipper investment objective categories aids the Board's management fee and total expense ratio comparisons by broadening the competitive group used for comparison
The Board considered the proposed management fee rate of the new Premier Class for each of the funds, which will cover, with certain exceptions, most expenses of the top-level fund and underlying Fidelity funds in which each fund invests (Series Funds). In reviewing the Amended Advisory Contract, the Board also considered the projected total expense ratio of the new Premier Class of each fund. The Board noted that the proposed management fee rate for the new Premier Class of each fund ranks above the median of its competitor funds because the majority of such competitor funds do not have top-level management fees. The Board also considered that the projected total expense ratio of the new Premier Class of each fund is below the median of those funds and classes used by the Board for management fee comparisons that have a similar sales load structure.
The Board also considered that the proposed contractual arrangements for each fund oblige FMR to pay all "class-level" expenses of Premier Class of each fund to the extent necessary to limit total operating expenses, with certain exceptions, to an amount specified in the applicable expense contract. These contractual arrangements may not be amended to increase the fees or expenses payable by Premier Class of each fund except by a vote of a majority of the Board of Trustees of the fund.
The Board noted that the difference in total expense ratios between the new Premier Class and other classes of each fund are the result of separate arrangements for class level services and/or waivers of certain expenses. The Board further noted that such differences are not the result of any difference in advisory or custodial fees or other expense related to the management of each fund's assets, which do not vary by class.
Based on its review, the Board concluded that the management fee and the projected total expense ratio of the new Premier class for each fund were reasonable in light of the services that the fund and its shareholders will receive and the other factors considered.
Costs of the Services and Profitability. The Board considered that it previously reviewed information regarding the revenues earned, the expenses incurred by Fidelity in providing services to each fund (and the Series Funds in which each fund invests) and the level of Fidelity's profitability. At its September 2020 meeting, the Board concluded that it was satisfied that the profitability of Fidelity in connection with the operation of each fund was not excessive.
Economies of Scale. The Board considered that it previously received and reviewed information regarding whether there have been economies of scale in respect of the management of the Fidelity funds, whether the Fidelity funds (including each fund) have appropriately benefited from any such economies of scale, and whether there is a potential realization of any further economies of scale and that it concluded, at its September 2020 meeting, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity. The Board will continue to review economies of scale in connection with future renewals of the Amended Advisory Contract.
Based on its evaluation of all of the conclusions noted above, and after considering all factors it believed relevant, the Board concluded that the Amended Advisory Contract for each of the funds should be approved.
Liquidity Risk Management Program
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Funds have adopted and implemented a liquidity risk management program pursuant to the Liquidity Rule (the Program) effective December 1, 2018. The Program is reasonably designed to assess and manage each Fund’s liquidity risk and to comply with the requirements of the Liquidity Rule. Each Fund’s Board of Trustees (the Board) has designated each Fund’s investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund’s liquidity risk based on a variety of factors including (1) the Fund’s investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) in the case of exchange-traded funds, certain additional factors including the effect of the Fund’s prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund’s portfolio, as applicable.
In accordance with the Program, each of the Fund’s portfolio investments is classified into one of four liquidity categories described below based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
- Highly liquid investments – cash or convertible to cash within three business days or less
- Moderately liquid investments – convertible to cash in three to seven calendar days
- Less liquid investments – can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments – cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund’s illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund’s net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM). The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund’s Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of implementation of the Program for the annual period from December 1, 2019 through November 30, 2020. The report concluded that the Program has been implemented and is operating effectively and is reasonably designed to assess and manage the Fund’s liquidity risk.
FBF-ANN-0521
1.9890344.102
Item 2.
Code of Ethics
As of the end of the period, March 31, 2021, Fidelity Aberdeen Street Trust (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
Item 3.
Audit Committee Financial Expert
The Board of Trustees of the trust has determined that Elizabeth S. Acton is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Ms. Acton is independent for purposes of Item 3 of Form N-CSR.
Item 4.
Principal Accountant Fees and Services
Fees and Services
The following table presents fees billed by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, “Deloitte Entities”) in each of the last two fiscal years for services rendered to Fidelity Advisor Freedom Income Fund, Fidelity Advisor Freedom 2005 Fund, Fidelity Advisor Freedom 2010 Fund, Fidelity Advisor Freedom 2015 Fund, Fidelity Advisor Freedom 2020 Fund, Fidelity Advisor Freedom 2025 Fund, Fidelity Advisor Freedom 2030 Fund, Fidelity Advisor Freedom 2035 Fund, Fidelity Advisor Freedom 2040 Fund, Fidelity Advisor Freedom 2045 Fund, Fidelity Advisor Freedom 2050 Fund, Fidelity Advisor Freedom 2055 Fund, Fidelity Advisor Freedom 2060 Fund, Fidelity Advisor Freedom 2065 Fund, Fidelity Freedom Index Income Fund, Fidelity Freedom Index 2005 Fund, Fidelity Freedom Index 2010 Fund, Fidelity Freedom Index 2015 Fund, Fidelity Freedom Index 2020 Fund, Fidelity Freedom Index 2025 Fund, Fidelity Freedom Index 2030 Fund, Fidelity Freedom Index 2035 Fund, Fidelity Freedom Index 2040 Fund, Fidelity Freedom Index 2045 Fund, Fidelity Freedom Index 2050 Fund, Fidelity Freedom Index 2055 Fund, Fidelity Freedom Index 2060 Fund and Fidelity Freedom Index 2065 Fund (the “Funds”):
Services Billed by Deloitte Entities
March 31, 2021 FeesA
| | | | |
| Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees |
Fidelity Advisor Freedom Income Fund | $22,400 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2005 Fund | $21,300 | $- |
$7,400 | $600 |
Fidelity Advisor Freedom 2010 Fund | $21,300 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2015 Fund | $21,300 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2020 Fund | $21,300 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2025 Fund | $21,300 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2030 Fund | $21,300 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2035 Fund | $21,300 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2040 Fund | $21,300 | $- | $7,400 | $600 |
Fidelity Advisor Freedom 2045 Fund | $22,400 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2050 Fund | $21,300 | $- | $7,400 | $600 |
Fidelity Advisor Freedom 2055 Fund | $22,400 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2060 Fund | $22,400 | $- | $7,400 | $600 |
Fidelity Advisor Freedom 2065 Fund | $20,900 | $- | $7,400 | $500 |
Fidelity Freedom Index Income Fund | $19,400 | $- | $6,900 | $500 |
Fidelity Freedom Index 2005 Fund | $19,400 | $- | $6,900 | $500 |
Fidelity Freedom Index 2010 Fund | $19,400 | $- | $6,900 | $500 |
Fidelity Freedom Index 2015 Fund | $19,400 | $- | $6,900 | $500 |
Fidelity Freedom Index 2020 Fund | $19,400 | $- | $6,900 | $500 |
Fidelity Freedom Index 2025 Fund | $19,400 | $- | $6,900 | $500 |
Fidelity Freedom Index 2030 Fund | $19,400 | $- | $6,900 | $500 |
Fidelity Freedom Index 2035 Fund | $19,400 | $- | $6,900 | $500 |
Fidelity Freedom Index 2040 Fund | $19,400 | $- | $6,900 | $500 |
Fidelity Freedom Index 2045 Fund | $19,400 | $- | $6,900 | $500 |
Fidelity Freedom Index 2050 Fund | $19,400 | $- | $6,900 | $500 |
Fidelity Freedom Index 2055 Fund | $19,500 | $- | $6,900 | $500 |
Fidelity Freedom Index 2060 Fund | $19,500 | $- | $6,900 | $500 |
Fidelity Freedom Index 2065 Fund | $18,900 | $- | $7,400 | $400 |
| | | | |
| Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees |
Fidelity Advisor Freedom Income Fund | $23,700 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2005 Fund | $22,500 | $- |
$7,400 | $600 |
Fidelity Advisor Freedom 2010 Fund | $22,500 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2015 Fund | $22,500 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2020 Fund | $22,500 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2025 Fund | $22,500 | $- | $7,400 | $600 |
Fidelity Advisor Freedom 2030 Fund | $22,500 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2035 Fund | $22,500 | $- | $7,400 | $600 |
Fidelity Advisor Freedom 2040 Fund | $22,500 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2045 Fund | $23,700 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2050 Fund | $22,500 | $- | $7,100 | $600 |
Fidelity Advisor Freedom 2055 Fund | $23,700 | $- | $7,400 | $600 |
Fidelity Advisor Freedom 2060 Fund | $23,700 | $- | $7,400 | $600 |
Fidelity Advisor Freedom 2065 Fund | $18,500 | $- | $7,200 | $300 |
Fidelity Freedom Index Income Fund | $18,100 | $- | $6,900 | $500 |
Fidelity Freedom Index 2005 Fund | $18,100 | $- | $6,900 | $500 |
Fidelity Freedom Index 2010 Fund | $18,100 | $- | $6,900 | $500 |
Fidelity Freedom Index 2015 Fund | $18,100 | $- | $6,900 | $500 |
Fidelity Freedom Index 2020 Fund | $18,100 | $- | $6,900 | $500 |
Fidelity Freedom Index 2025 Fund | $18,100 | $- | $6,900 | $500 |
Fidelity Freedom Index 2030 Fund | $18,100 | $- | $6,900 | $500 |
Fidelity Freedom Index 2035 Fund | $18,100 | $- | $6,900 | $500 |
Fidelity Freedom Index 2040 Fund | $18,100 | $- | $6,900 | $500 |
Fidelity Freedom Index 2045 Fund | $18,100 | $- | $6,900 | $500 |
Fidelity Freedom Index 2050 Fund | $18,100 | $- | $6,900 | $500 |
Fidelity Freedom Index 2055 Fund | $18,100 | $- | $6,900 | $500 |
Fidelity Freedom Index 2060 Fund | $18,100 | $- | $6,900 | $500 |
Fidelity Freedom Index 2065 Fund | $15,000 | $- | $7,200 | $300 |
A Amounts may reflect rounding.
B Fidelity Advisor Freedom 2065 Fund and Fidelity Freedom Index 2065 Fund commenced operations on June 28, 2019.
The following table presents fees billed by PricewaterhouseCoopers LLP (“PwC”) in each of the last two fiscal years for services rendered to Fidelity Flex Freedom Blend Income Fund, Fidelity Flex Freedom Blend 2005 Fund, Fidelity Flex Freedom Blend 2010 Fund, Fidelity Flex Freedom Blend 2015 Fund, Fidelity Flex Freedom Blend 2020 Fund, Fidelity Flex Freedom Blend 2025 Fund, Fidelity Flex Freedom Blend 2030 Fund, Fidelity Flex Freedom Blend 2035 Fund, Fidelity Flex Freedom Blend 2040 Fund, Fidelity Flex Freedom Blend 2045 Fund, Fidelity Flex Freedom Blend 2050 Fund, Fidelity Flex Freedom Blend 2055 Fund, Fidelity Flex Freedom Blend 2060 Fund, Fidelity Flex Freedom Blend 2065 Fund, Fidelity Freedom Income Fund, Fidelity Freedom 2005 Fund, Fidelity Freedom 2010 Fund, Fidelity Freedom 2015 Fund, Fidelity Freedom 2020 Fund, Fidelity Freedom 2025 Fund, Fidelity Freedom 2030 Fund, Fidelity Freedom 2035 Fund, Fidelity Freedom 2040 Fund, Fidelity Freedom 2045 Fund, Fidelity Freedom 2050 Fund, Fidelity Freedom 2055 Fund, Fidelity Freedom 2060 Fund, Fidelity Freedom 2065 Fund, Fidelity Freedom Blend Income Fund, Fidelity Freedom Blend 2005 Fund, Fidelity Freedom Blend 2010 Fund, Fidelity Freedom Blend 2015 Fund, Fidelity Freedom Blend 2020 Fund, Fidelity Freedom Blend 2025 Fund, Fidelity Freedom Blend 2030 Fund, Fidelity Freedom Blend 2035 Fund, Fidelity Freedom Blend
2040 Fund, Fidelity Freedom Blend 2045 Fund, Fidelity Freedom Blend 2050 Fund, Fidelity Freedom Blend 2055 Fund, Fidelity Freedom Blend 2060 Fund and Fidelity Freedom Blend 2065 Fund (the “Funds”):
Services Billed by PwC
March 31, 2021 FeesA
| | | | |
| Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees |
Fidelity Flex Freedom Blend Income Fund | $14,000 | $1,300 | $5,400 | $700 |
Fidelity Flex Freedom Blend 2005 Fund | $16,200 | $1,500 | $5,400 | $800 |
Fidelity Flex Freedom Blend 2010 Fund | $16,200 | $1,500 | $5,400 | $800 |
Fidelity Flex Freedom Blend 2015 Fund | $16,200 | $1,500 | $5,400 | $800 |
Fidelity Flex Freedom Blend 2020 Fund | $16,200 | $1,500 | $5,400 | $800 |
Fidelity Flex Freedom Blend 2025 Fund | $16,200 | $1,500 | $5,400 | $800 |
Fidelity Flex Freedom Blend 2030 Fund | $16,200 | $1,500 | $5,400 | $800 |
Fidelity Flex Freedom Blend 2035 Fund | $16,200 | $1,500 | $5,400 | $800 |
Fidelity Flex Freedom Blend 2040 Fund | $16,200 | $1,500 | $5,400 | $800 |
Fidelity Flex Freedom Blend 2045 Fund | $16,200 | $1,500 | $5,400 | $800 |
Fidelity Flex Freedom Blend 2050 Fund | $16,200 | $1,500 | $5,400 | $800 |
Fidelity Flex Freedom Blend 2055 Fund | $16,200 | $1,500 | $5,400 | $800 |
Fidelity Flex Freedom Blend 2060 Fund | $16,200 | $1,500 | $5,400 | $800 |
Fidelity Flex Freedom Blend 2065 Fund | $16,200 | $1,300 | $5,400 | $700 |
Fidelity Freedom Income Fund | $18,100 | $1,600 | $5,100 | $900 |
Fidelity Freedom 2005 Fund | $18,100 | $1,600 |
$5,100 | $900 |
Fidelity Freedom 2010 Fund | $18,100 | $1,600 | $5,100 | $900 |
Fidelity Freedom 2015 Fund | $18,100 | $1,600 | $5,100 | $900 |
Fidelity Freedom 2020 Fund | $18,100 | $1,600 | $5,100 | $900 |
Fidelity Freedom 2025 Fund | $18,100 | $1,600 | $5,100 | $900 |
Fidelity Freedom 2030 Fund | $18,100 | $1,600 | $5,100 | $900 |
Fidelity Freedom 2035 Fund | $18,100 | $1,600 | $5,100 | $900 |
Fidelity Freedom 2040 Fund | $18,100 | $1,600 | $5,100 | $900 |
Fidelity Freedom 2045 Fund | $18,100 | $1,600 | $5,100 | $900 |
Fidelity Freedom 2050 Fund | $18,100 | $1,600 | $5,100 | $900 |
Fidelity Freedom 2055 Fund | $18,100 | $1,600 | $5,100 | $900 |
Fidelity Freedom 2060 Fund | $18,100 | $1,600 | $5,100 | $900 |
Fidelity Freedom 2065 Fund | $19,800 | $1,500 | $5,100 | $800 |
Fidelity Freedom Blend Income Fund | $19,000 | $1,600 | $5,700 | $900 |
Fidelity Freedom Blend 2005 Fund | $19,000 | $1,600 |
$5,700 | $900 |
Fidelity Freedom Blend 2010 Fund | $19,000 | $1,600 | $5,700 | $900 |
Fidelity Freedom Blend 2015 Fund | $20,800 | $1,600 | $7,400 | $900 |
Fidelity Freedom Blend 2020 Fund | $20,800 | $1,600 | $7,400 | $900 |
Fidelity Freedom Blend 2025 Fund | $20,800 | $1,600 | $7,400 | $900 |
Fidelity Freedom Blend 2030 Fund | $20,800 | $1,600 | $7,400 | $900 |
Fidelity Freedom Blend 2035 Fund | $20,800 | $1,600 | $7,400 | $900 |
Fidelity Freedom Blend 2040 Fund | $20,800 | $1,600 | $5,700 | $900 |
Fidelity Freedom Blend 2045 Fund | $20,800 | $1,600 | $7,400 | $900 |
Fidelity Freedom Blend 2050 Fund | $20,800 | $1,600 | $5,700 | $900 |
Fidelity Freedom Blend 2055 Fund | $20,800 | $1,600 | $7,400 | $900 |
Fidelity Freedom Blend 2060 Fund | $20,800 | $1,600 | $7,400 | $900 |
Fidelity Freedom Blend 2065 Fund | $20,800 | $1,500 | $7,400 | $800 |
| | | | |
| Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees |
Fidelity Flex Freedom Blend Income Fund | $14,700 | $1,500 | $5,400 | $900 |
Fidelity Flex Freedom Blend 2005 Fund | $16,900 | $1,700 | $5,400 | $1,000 |
Fidelity Flex Freedom Blend 2010 Fund | $16,900 | $1,700 | $5,400 | $1,000 |
Fidelity Flex Freedom Blend 2015 Fund | $16,900 | $1,700 | $5,400 | $1,000 |
Fidelity Flex Freedom Blend 2020 Fund | $16,900 | $1,700 | $5,400 | $1,000 |
Fidelity Flex Freedom Blend 2025 Fund | $16,900 | $1,700 | $5,400 | $1,000 |
Fidelity Flex Freedom Blend 2030 Fund | $16,900 | $1,700 | $5,400 | $1,000 |
Fidelity Flex Freedom Blend 2035 Fund | $16,900 | $1,700 | $5,400 | $1,000 |
Fidelity Flex Freedom Blend 2040 Fund | $16,900 | $1,700 | $5,400 | $1,000 |
Fidelity Flex Freedom Blend 2045 Fund | $16,900 | $1,700 | $5,400 | $1,000 |
Fidelity Flex Freedom Blend 2050 Fund | $16,900 | $1,700 | $5,400 | $1,000 |
Fidelity Flex Freedom Blend 2055 Fund | $16,900 | $1,700 | $5,400 | $1,000 |
Fidelity Flex Freedom Blend 2060 Fund | $16,900 | $1,700 | $5,400 | $1,000 |
Fidelity Flex Freedom Blend 2065 Fund | $14,400 | $1,100 | $4,800 | $600 |
Fidelity Freedom Income Fund | $18,800 | $1,900 | $5,100 | $1,000 |
Fidelity Freedom 2005 Fund | $18,800 | $1,900 |
$5,100 | $1,000 |
Fidelity Freedom 2010 Fund | $18,800 | $1,900 | $5,100 | $1,000 |
Fidelity Freedom 2015 Fund | $18,800 | $1,900 | $5,100 | $1,000 |
Fidelity Freedom 2020 Fund | $18,800 | $1,900 | $5,100 | $1,000 |
Fidelity Freedom 2025 Fund | $18,800 | $1,900 | $5,100 | $1,000 |
Fidelity Freedom 2030 Fund | $18,800 | $1,900 | $5,100 | $1,000 |
Fidelity Freedom 2035 Fund | $18,800 | $1,900 | $5,100 | $1,000 |
Fidelity Freedom 2040 Fund | $18,800 | $1,900 | $5,100 | $1,000 |
Fidelity Freedom 2045 Fund | $18,800 | $1,900 | $5,100 | $1,000 |
Fidelity Freedom 2050 Fund | $18,800 | $1,900 | $5,100 | $1,000 |
Fidelity Freedom 2055 Fund | $18,800 | $1,900 | $5,100 | $1,000 |
Fidelity Freedom 2060 Fund | $18,800 | $1,900 | $5,100 | $1,000 |
Fidelity Freedom 2065 Fund | $16,100 | $1,200 | $5,100 | $700 |
Fidelity Freedom Blend Income Fund | $18,800 | $1,700 | $5,700 | $1,000 |
Fidelity Freedom Blend 2005 Fund | $18,800 | $1,700 |
$5,700 | $1,000 |
Fidelity Freedom Blend 2010 Fund | $18,800 | $1,700 | $5,700 | $1,000 |
Fidelity Freedom Blend 2015 Fund | $18,800 | $1,700 | $5,700 | $1,000 |
Fidelity Freedom Blend 2020 Fund | $18,800 | $1,700 | $5,700 | $1,000 |
Fidelity Freedom Blend 2025 Fund | $18,800 | $1,700 | $5,700 | $1,000 |
Fidelity Freedom Blend 2030 Fund | $18,800 | $1,700 | $5,700 | $1,000 |
Fidelity Freedom Blend 2035 Fund | $20,600 | $1,700 | $5,700 | $1,000 |
Fidelity Freedom Blend 2040 Fund | $20,600 | $1,700 | $5,700 | $1,000 |
Fidelity Freedom Blend 2045 Fund | $20,600 | $1,700 | $5,700 | $1,000 |
Fidelity Freedom Blend 2050 Fund | $20,600 | $1,700 | $5,700 | $1,000 |
Fidelity Freedom Blend 2055 Fund | $18,800 | $1,700 | $5,700 | $1,000 |
Fidelity Freedom Blend 2060 Fund | $20,600 | $1,700 | $5,700 | $1,000 |
Fidelity Freedom Blend 2065 Fund | $16,100 | $1,200 | $5,100 | $700 |
A Amounts may reflect rounding.
B Fidelity Flex Freedom 2065 Fund, Fidelity Freedom 2065 Fund and Fidelity Freedom Blend 2065 Fund commenced operations on June 28, 2019.
The following table(s) present(s) fees billed by Deloitte Entities and PwC that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Fund(s) and that are rendered on behalf of Fidelity Management & Research Company LLC ("FMR") and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Fund(s) (“Fund Service Providers”):
Services Billed by Deloitte Entities
| | |
| March 31, 2021A | March 31, 2020A,B |
Audit-Related Fees | $- | $- |
Tax Fees | $- | $3,000 |
All Other Fees | $- | $- |
A Amounts may reflect rounding.
B May include amounts billed prior to the Fidelity Advisor Freedom 2065 Fund and Fidelity Freedom Index 2065 Fund’s commencement of operations.
Services Billed by PwC
| | |
| March 31, 2021A | March 31, 2020A,B |
Audit-Related Fees | $9,015,700 | $8,884,200 |
Tax Fees | $14,300 | $17,700 |
All Other Fees | $- | $- |
A Amounts may reflect rounding.
B May include amounts billed prior to the Fidelity Flex Freedom 2065 Fund, Fidelity Freedom 2065 Fund and Fidelity Freedom Blend 2065 Fund’s commencement of operations.
“Audit-Related Fees” represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.
“Tax Fees” represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.
“All Other Fees” represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.
Assurance services must be performed by an independent public accountant.
* * *
The aggregate non-audit fees billed by Deloitte Entities and PwC for services rendered to the Fund(s), FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any Fund Service Provider for each of the last two fiscal years of the Fund(s) are as follows:
| | |
Billed By | March 31, 2021A | March 31, 2020A,B |
Deloitte Entities | $734,800 | $717,400 |
PwC | $14,494,000 | $14,560,800 |
|
|
|
A Amounts may reflect rounding.
B May include amounts billed prior to the Fidelity Advisor Freedom 2065 Fund, Fidelity Flex Freedom 2065 Fund, Fidelity Freedom 2065 Fund, Fidelity Freedom Index 2065 Fund and Fidelity Freedom Blend 2065 Fund’s commencement of operations.
The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by Deloitte Entities and PwC to Fund Service Providers to be compatible with maintaining the independence of Deloitte Entities and PwC in its(their) audit of the Fund(s), taking into account representations from Deloitte Entities and PwC, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Fund(s) and its(their) related entities and FMR’s review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund(s) Service Providers.
Audit Committee Pre-Approval Policies and Procedures
The trust’s Audit Committee must pre-approve all audit and non-audit services provided by a fund’s independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee’s consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund (“Covered Service”) are subject to approval by the Audit Committee before such service is provided.
All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair’s absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.
Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee periodically.
Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X (“De Minimis Exception”)
There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Fund’s(s’) last two fiscal years relating to services provided to (i) the Fund(s) or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Fund(s).
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable.
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the trust’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trust’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the trust’s internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 13.
Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Aberdeen Street Trust
| |
By: | /s/Laura M. Del Prato |
| Laura M. Del Prato |
| President and Treasurer |
|
|
Date: | May 20, 2021 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| |
By: | /s/Laura M. Del Prato |
| Laura M. Del Prato |
| President and Treasurer |
|
|
Date: | May 20, 2021 |
| |
By: | /s/John J. Burke III |
| John J. Burke III |
| Chief Financial Officer |
|
|
Date: | May 20, 2021 |
