N-CSR 1 filing717.htm PRIMARY DOCUMENT

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



Date of fiscal year end:

March 31



Date of reporting period:

March 31, 2020





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, 2020

Fidelity Investments
See the inside front cover for important information about access to your fund’s shareholder reports.


Fidelity Investments

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary, such as a financial advisor, broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a fund electronically, by contacting your financial intermediary. For Fidelity customers, visit Fidelity's web site or call Fidelity using the contact information listed below.

You may elect to receive all future reports in paper free of charge. If you wish to continue receiving paper copies of your shareholder reports, you may contact your financial intermediary or, if you are a Fidelity customer, visit Fidelity’s website, or call Fidelity at the applicable toll-free number listed below. Your election to receive reports in paper will apply to all funds held with the fund complex/your financial intermediary.

Account Type Website Phone Number 
Brokerage, Mutual Fund, or Annuity Contracts: fidelity.com/mailpreferences 1-800-343-3548 
Employer Provided Retirement Accounts: netbenefits.fidelity.com/preferences (choose 'no' under Required Disclosures to continue to print) 1-800-343-0860 
Advisor Sold Accounts Serviced Through Your Financial Intermediary: Contact Your Financial Intermediary Your Financial Intermediary's phone number 
Advisor Sold Accounts Serviced by Fidelity: institutional.fidelity.com 1-877-208-0098 


Contents

Note to Shareholders

Performance

Management's Discussion of Fund Performance

Fidelity Freedom® Income Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® 2005 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® 2010 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® 2015 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® 2020 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® 2025 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® 2030 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® 2035 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® 2040 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® 2045 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® 2050 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® 2055 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® 2060 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® 2065 Fund

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Report of Independent Registered Public Accounting Firm

Trustees and Officers

Shareholder Expense Example

Distributions

Liquidity Risk Management Program


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. © 2020 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:
(No Action is Required by You)

As part of a regular review of its organizational structure, Fidelity has decided to merge certain entities to streamline operations, increase efficiency, simplify reporting, and reduce legal, compliance, and accounting complexity and costs. In separate events, Fidelity has merged four of its investment advisers and two of its broker-dealers.

Effective on or about January 1, 2020, following any required regulatory notices and approvals:

Investment advisers Fidelity Investments Money Management, Inc., FMR Co., Inc., and Fidelity SelectCo, LLC, merged with and into Fidelity Management & Research Company. In connection with the merger transactions, the resulting, merged investment adviser was then redomiciled from Massachusetts to Delaware, changed its corporate structure from a corporation to a limited liability company, and changed its name to “Fidelity Management & Research Company LLC”.

Broker-dealer Fidelity Distributors Corporation merged with and into Fidelity Investments Institutional Services Company, Inc. (“FIISC”). FIISC was then redomiciled from Massachusetts to Delaware, changed its corporate structure from a corporation to a limited liability company, and changed its name to “Fidelity Distributors Company LLC”.

These mergers are not expected to affect fund shareholders or Fidelity clients, nor are they expected to result in any changes to the day-to-day management of Fidelity’s brokerage services, the Fidelity funds, their investment policies and practices, their portfolio management teams, or the funds’ expenses.

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 corporate earnings. The virus causes a respiratory disease known as COVID-19. On March 11, 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, the U.S. government took unprecedented action – in concert with the U.S. Federal Reserve and central banks around the world – to help support consumers, businesses, and the broader economy, and to limit disruption to the financial system.

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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Fidelity Freedom® Income Fund 1.05% 2.91% 3.83% 
Class K 1.12% 2.93% 3.84% 
Class K6 1.18% 2.96% 3.86% 

 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, 2010.

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

$14,565Fidelity Freedom® Income Fund

$14,369Bloomberg 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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Fidelity Freedom® 2005 Fund 0.12% 3.24% 4.70% 
Class K 0.18% 3.26% 4.71% 
Class K6 0.22% 3.30% 4.73% 

 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, 2010.

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

$15,829Fidelity Freedom® 2005 Fund

$14,639Bloomberg 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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Fidelity Freedom® 2010 Fund (1.25)% 3.35% 5.31% 
Class K (1.21)% 3.39% 5.33% 
Class K6 (1.14)% 3.42% 5.34% 

 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, 2010.

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

$16,768Fidelity Freedom® 2010 Fund

$14,639Bloomberg 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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Fidelity Freedom® 2015 Fund (2.80)% 3.43% 5.49% 
Class K (2.67)% 3.47% 5.51% 
Class K6 (2.61)% 3.52% 5.54% 

 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, 2010.

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

$17,066Fidelity Freedom® 2015 Fund

$14,639Bloomberg 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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Fidelity Freedom® 2020 Fund (4.15)% 3.41% 5.71% 
Class K (4.04)% 3.46% 5.73% 
Class K6 (3.96)% 3.51% 5.76% 

 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® 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, 2010.

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

$17,417Fidelity Freedom® 2020 Fund

$27,210S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Fidelity Freedom® 2025 Fund (5.17)% 3.39% 6.10% 
Class K (5.11)% 3.43% 6.12% 
Class K6 (5.02)% 3.50% 6.16% 

 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, 2010.

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

$18,077Fidelity Freedom® 2025 Fund

$27,210S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Fidelity Freedom® 2030 Fund (6.69)% 3.62% 6.37% 
Class K (6.57)% 3.68% 6.40% 
Class K6 (6.52)% 3.75% 6.43% 

 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, 2010.

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

$18,537Fidelity Freedom® 2030 Fund

$27,210S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Fidelity Freedom® 2035 Fund (9.25)% 3.41% 6.47% 
Class K (9.19)% 3.46% 6.49% 
Class K6 (9.08)% 3.55% 6.54% 

 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, 2010.

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

$18,717Fidelity Freedom® 2035 Fund

$27,210S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Fidelity Freedom® 2040 Fund (10.80)% 3.08% 6.33% 
Class K (10.76)% 3.13% 6.36% 
Class K6 (10.58)% 3.21% 6.40% 

 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 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, 2010.

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

$18,474Fidelity Freedom® 2040 Fund

$27,210S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Fidelity Freedom® 2045 Fund (10.80)% 3.06% 6.37% 
Class K (10.74)% 3.12% 6.40% 
Class K6 (10.57)% 3.20% 6.45% 

 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, 2010.

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

$18,547Fidelity Freedom® 2045 Fund

$27,210S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Fidelity Freedom® 2050 Fund (10.80)% 3.07% 6.37% 
Class K (10.66)% 3.13% 6.40% 
Class K6 (10.49)% 3.22% 6.45% 

 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, 2010.

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

$18,546Fidelity Freedom® 2050 Fund

$27,210S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Life of fundA 
Fidelity Freedom® 2055 Fund (10.85)% 3.04% 5.55% 
Class K (10.70)% 3.12% 5.59% 
Class K6 (10.61)% 3.19% 5.63% 

 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

$16,116Fidelity Freedom® 2055 Fund

$23,650S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Life of fundA 
Fidelity Freedom® 2060 Fund (10.80)% 3.04% 3.79% 
Class K (10.66)% 3.10% 3.84% 
Class K6 (10.65)% 3.17% 3.90% 

 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

$12,341Fidelity Freedom® 2060 Fund

$15,122S&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 for Fidelity Freedom® 2065 Fund will be reported once the fund is a year old.

$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

$8,640Fidelity Freedom® 2065 Fund

$8,918S&P 500® Index

Management's Discussion of Fund Performance

Market Recap:  The performance of financial assets during the 12-month period ending March 31, 2020 was significantly influenced by the outbreak and spread of a novel coronavirus in the first quarter of 2020. The outbreak curtailed global economic growth and the outlook for corporate earnings in domestic and foreign markets. Declared a pandemic on March 11, the crisis and containment efforts led to increased uncertainty, broad-based contraction in economic activity, higher volatility, and dislocation in the financial markets as investors digested new information. Against this backdrop, the Dow Jones U.S. Total Stock Market Index had a return of -9.28% for the year. By mid-March, the U.S. stock market entered bear-market territory less than a month after hitting an all-time high. The energy sector (-55%) fared worst, whereas information technology (+7%) stood out as the only sector with a positive return. Consumer staples and health care (-2% each) held up reasonably well. Large-cap stocks outpaced smaller-caps, while growth outpaced value. Elsewhere, commodities generally lagged equities. Non-U.S. equities returned -15.42% for the year, according to the MSCI ACWI (All Country World Index) ex USA Index. With the exception of Japan (-6%), all regions within the index experienced a double-digit decline. The U.K. and Asia Pacific ex Japan (-23% each) regions fared worst, while Europe ex U.K. (-12%) outperformed. Sector-wise, notable laggards included energy (-37%), real estate (-25%) and financials (-24%), while health care (+5%) and information technology (+2%) outperformed. Turning to fixed income, U.S. taxable investment-grade bonds (the Bloomberg Barclays U.S. Aggregate Bond Index) advanced 8.93%, as investors generally sought their perceived safety. Within the index, U.S. Treasury bonds led the way (+13%), while others securitized debt categories lagged. Extended (non-core) fixed income classes, such as leveraged loans fared poorly (-10%), as did high-yield bonds (-7%) and emerging-markets debt (-5).

Comments from Co-Portfolio Managers Andrew Dierdorf and Brett Sumsion:  For the fiscal year, the shares of each Fidelity Freedom® Fund posted a return, ranging from 1.05% for Fidelity Freedom Income Fund to -10.85% for Fidelity Freedom 2055 Fund. Each Fund lagged its respective Composite index. Active asset allocation decisions drove the majority of the Funds’ underperformance relative to Composite indexes during the past 12 months. The performance of the underlying investment portfolios also held back the Funds' relative results, but to a lesser extent. In particular, underweighting investment-grade bonds, which performed relatively well, held back the Funds’ performance versus Composites. Exposure to poor-performing commodities, which are not in Composite indexes, also hurt, as did an overweighting in non-U.S. equities –one of the weaker-performing asset classes. Meanwhile, underweighting lagging U.S. equities contributed to the Funds’ relative performance. Overweight allocations to inflation-protected securities and short-term securities also helped, as both asset classes had a positive return. In terms of investment performance, our position in Fidelity® Series Investment Grade Bond Fund hurt most, as it trailed its benchmark. Elsewhere, the performance of underlying U.S. equity funds, in aggregate, lagged the Composite indexes. Here, our investments in Fidelity® Series Intrinsic Opportunities Fund and Fidelity® Series Large Cap Stock Fund were notable detractors this period. Conversely, among non-U.S. equities, investments in underlying developed-markets equity and emerging-markets equity portfolios added value.

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, 2020

 % of fund's net assets 
Fidelity Series Investment Grade Bond Fund 38.9 
Fidelity Series Government Money Market Fund 0.4% 21.0 
Fidelity Series Inflation-Protected Bond Index Fund 12.2 
Fidelity Series Short-Term Credit Fund 4.8 
Fidelity Series Emerging Markets Opportunities Fund 3.9 
Fidelity Series Commodity Strategy Fund 3.3 
Fidelity Series Long-Term Treasury Bond Index Fund 2.5 
Fidelity Series International Growth Fund 2.0 
Fidelity Series International Value Fund 1.7 
Fidelity Series Overseas Fund 1.5 
 91.8 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 7.8% 
   International Equity Funds 10.4% 
   Bond Funds 55.5% 
   Short-Term Funds 26.0% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.2% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.55% 4/16/20 to 6/4/20 (a)   
(Cost $2,098,332) 2,100,000 2,099,652 
 Shares Value 
Domestic Equity Funds - 7.8%   
Fidelity Series All-Sector Equity Fund (b) 828,438 $6,494,951 
Fidelity Series Blue Chip Growth Fund (b) 860,920 11,105,865 
Fidelity Series Commodity Strategy Fund (b) 28,076,321 102,478,570 
Fidelity Series Growth Company Fund (b) 1,558,384 24,466,624 
Fidelity Series Intrinsic Opportunities Fund (b) 1,742,724 22,167,449 
Fidelity Series Large Cap Stock Fund (b) 1,587,311 19,031,854 
Fidelity Series Large Cap Value Index Fund (b) 554,379 5,327,585 
Fidelity Series Opportunistic Insights Fund (b) 945,248 14,481,203 
Fidelity Series Small Cap Discovery Fund (b) 331,820 2,485,329 
Fidelity Series Small Cap Opportunities Fund (b) 770,058 7,816,087 
Fidelity Series Stock Selector Large Cap Value Fund (b) 1,612,719 14,482,220 
Fidelity Series Value Discovery Fund (b) 1,036,282 10,290,283 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $248,607,166)  240,628,020 
International Equity Funds - 10.4%   
Fidelity Series Canada Fund (b) 1,426,698 11,827,329 
Fidelity Series Emerging Markets Fund (b) 1,774,827 12,565,775 
Fidelity Series Emerging Markets Opportunities Fund (b) 7,732,919 120,401,548 
Fidelity Series International Growth Fund (b) 4,326,840 62,652,637 
Fidelity Series International Small Cap Fund (b) 1,129,588 15,102,598 
Fidelity Series International Value Fund (b) 7,381,559 52,704,333 
Fidelity Series Overseas Fund (b) 5,486,142 47,455,129 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $323,793,988)  322,709,349 
Bond Funds - 55.5%   
Fidelity Series Emerging Markets Debt Fund (b) 2,398,227 19,329,709 
Fidelity Series Floating Rate High Income Fund (b) 448,891 3,609,083 
Fidelity Series High Income Fund (b) 2,500,973 20,608,019 
Fidelity Series Inflation-Protected Bond Index Fund (b) 37,305,572 376,040,169 
Fidelity Series International Credit Fund (b) 209,027 1,998,296 
Fidelity Series Investment Grade Bond Fund (b) 104,193,301 1,201,348,763 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 7,306,429 78,105,731 
Fidelity Series Real Estate Income Fund (b) 1,471,420 12,389,359 
TOTAL BOND FUNDS   
(Cost $1,623,523,693)  1,713,429,129 
Short-Term Funds - 26.0%   
Fidelity Cash Central Fund 0.29% (c) 4,859,025 4,860,482 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 649,056,601 649,056,601 
Fidelity Series Short-Term Credit Fund (b) 15,011,959 148,318,154 
TOTAL SHORT-TERM FUNDS   
(Cost $803,488,401)  802,235,237 
TOTAL INVESTMENT IN SECURITIES - 99.8%   
(Cost $3,001,511,580)  3,081,101,387 
NET OTHER ASSETS (LIABILITIES) - 0.2%  6,206,074 
NET ASSETS - 100%  $3,087,307,461 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $2,099,652.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $61,277 
Total $61,277 

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 $10,318,814 $1,925,939 $4,387,644 $1,149,147 $425,541 $(1,787,699) $6,494,951 
Fidelity Series Blue Chip Growth Fund 22,182,241 2,402,917 12,080,839 1,962,923 2,934,055 (4,332,509) 11,105,865 
Fidelity Series Canada Fund 6,782,976 8,745,831 1,007,228 207,967 16,374 (2,710,624) 11,827,329 
Fidelity Series Commodity Strategy Fund 78,042,984 71,456,542 17,615,956 1,802,954 (3,624,052) (25,780,948) 102,478,570 
Fidelity Series Emerging Markets Debt Fund 25,629,199 4,088,173 7,059,602 1,396,102 (348,688) (2,979,373) 19,329,709 
Fidelity Series Emerging Markets Fund 12,258,731 6,715,529 1,724,859 364,597 (140,810) (4,542,816) 12,565,775 
Fidelity Series Emerging Markets Opportunities Fund 114,538,710 50,698,655 21,597,351 3,647,243 (516,556) (22,721,910) 120,401,548 
Fidelity Series Floating Rate High Income Fund 4,460,729 381,549 659,403 251,351 (56,170) (517,622) 3,609,083 
Fidelity Series Government Money Market Fund 0.4% 600,538,386 134,912,990 86,394,775 12,251,307 -- -- 649,056,601 
Fidelity Series Growth Company Fund 43,711,719 4,324,880 22,512,870 3,437,366 6,923,554 (7,980,659) 24,466,624 
Fidelity Series High Income Fund 29,587,852 2,212,449 8,211,984 1,579,286 134,146 (3,114,444) 20,608,019 
Fidelity Series Inflation-Protected Bond Index Fund 443,884,166 30,136,204 111,882,730 5,781,735 296,891 13,605,638 376,040,169 
Fidelity Series International Credit Fund 1,946,138 123,913 -- 123,913 -- (71,755) 1,998,296 
Fidelity Series International Growth Fund 79,536,330 4,968,998 19,271,216 3,049,398 1,892,932 (4,474,407) 62,652,637 
Fidelity Series International Small Cap Fund 19,317,262 3,806,390 6,166,836 830,993 492,508 (2,346,726) 15,102,598 
Fidelity Series International Value Fund 76,114,541 10,564,898 18,543,335 3,096,794 (114,081) (15,317,690) 52,704,333 
Fidelity Series Intrinsic Opportunities Fund 53,136,678 7,048,029 29,757,816 2,187,680 5,608,741 (13,868,183) 22,167,449 
Fidelity Series Investment Grade Bond Fund 1,265,729,572 110,670,929 214,689,291 38,866,208 1,679,312 37,958,241 1,201,348,763 
Fidelity Series Large Cap Stock Fund 46,058,050 5,293,424 27,295,750 2,694,111 4,373,530 (9,397,400) 19,031,854 
Fidelity Series Large Cap Value Index Fund 13,176,613 1,040,541 7,086,162 662,498 935,150 (2,738,557) 5,327,585 
Fidelity Series Long-Term Treasury Bond Index Fund 153,967,657 15,400,512 112,988,898 8,861,561 10,672,658 11,053,802 78,105,731 
Fidelity Series Opportunistic Insights Fund 23,344,444 2,370,719 9,555,694 1,883,747 2,825,658 (4,503,924) 14,481,203 
Fidelity Series Overseas Fund -- 54,853,212 -- 124,579 -- (7,398,083) 47,455,129 
Fidelity Series Real Estate Income Fund 16,745,875 1,463,977 2,066,469 1,055,708 (76,646) (3,677,378) 12,389,359 
Fidelity Series Short-Term Credit Fund 150,905,338 19,645,473 20,785,284 4,167,969 (95,810) (1,351,563) 148,318,154 
Fidelity Series Small Cap Discovery Fund 6,192,282 459,075 2,837,337 330,577 133,970 (1,462,661) 2,485,329 
Fidelity Series Small Cap Opportunities Fund 18,448,340 1,763,725 9,329,596 1,054,199 2,131,834 (5,198,216) 7,816,087 
Fidelity Series Stock Selector Large Cap Value Fund 35,698,360 3,471,879 19,518,777 1,774,013 1,714,750 (6,883,992) 14,482,220 
Fidelity Series Value Discovery Fund 25,022,092 2,566,055 14,176,428 932,146 1,811,785 (4,933,221) 10,290,283 
 $3,377,276,079 $563,513,407 $809,204,130 $105,528,072 $40,030,576 $(97,474,679) $3,074,141,253 

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, 2020, 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 $2,099,652 $-- $2,099,652 $-- 
Domestic Equity Funds 240,628,020 240,628,020 -- -- 
International Equity Funds 322,709,349 322,709,349 -- -- 
Bond Funds 1,713,429,129 1,713,429,129 -- -- 
Short-Term Funds 802,235,237 802,235,237 -- -- 
Total Investments in Securities: $3,081,101,387 $3,079,001,735 $2,099,652 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $2,098,332) 
$2,099,652  
Fidelity Central Funds (cost $4,860,441) 4,860,482  
Other affiliated issuers (cost $2,994,552,807) 3,074,141,253  
Total Investment in Securities (cost $3,001,511,580)  $3,081,101,387 
Segregated cash with brokers for derivative instruments  5,529,190 
Receivable for investments sold  3,499,998 
Receivable for fund shares sold  2,611,344 
Distributions receivable from Fidelity Central Funds  4,088 
Receivable for daily variation margin on futures contracts  725,913 
Total assets  3,093,471,920 
Liabilities   
Payable for investments purchased $552  
Payable for fund shares redeemed 4,995,810  
Accrued management fee 1,168,097  
Total liabilities  6,164,459 
Net Assets  $3,087,307,461 
Net Assets consist of:   
Paid in capital  $2,969,603,588 
Total accumulated earnings (loss)  117,703,873 
Net Assets  $3,087,307,461 
Net Asset Value and Maximum Offering Price   
Fidelity Freedom Income Fund:   
Net Asset Value, offering price and redemption price per share ($1,839,153,122 ÷ 164,907,339 shares)  $11.15 
Class K:   
Net Asset Value, offering price and redemption price per share ($1,048,404,012 ÷ 94,155,693 shares)  $11.13 
Class K6:   
Net Asset Value, offering price and redemption price per share ($199,750,327 ÷ 17,946,193 shares)  $11.13 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $79,364,408 
Interest  20,434 
Income from Fidelity Central Funds  61,277 
Total income  79,446,119 
Expenses   
Management fee $14,835,027  
Independent trustees' fees and expenses 12,957  
Total expenses before reductions 14,847,984  
Expense reductions (36)  
Total expenses after reductions  14,847,948 
Net investment income (loss)  64,598,171 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 761  
Fidelity Central Funds 54  
Other affiliated issuers 40,030,576  
Futures contracts 8,163,331  
Capital gain distributions from underlying funds:   
Affiliated issuers 26,163,664  
Total net realized gain (loss)  74,358,386 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 1,264  
Fidelity Central Funds 35  
Other affiliated issuers (97,474,679)  
Futures contracts 379,628  
Total change in net unrealized appreciation (depreciation)  (97,093,752) 
Net gain (loss)  (22,735,366) 
Net increase (decrease) in net assets resulting from operations  $41,862,805 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $64,598,171 $71,396,925 
Net realized gain (loss) 74,358,386 94,239,848 
Change in net unrealized appreciation (depreciation) (97,093,752) (64,771,569) 
Net increase (decrease) in net assets resulting from operations 41,862,805 100,865,204 
Distributions to shareholders (122,580,496) (178,193,341) 
Share transactions - net increase (decrease) (214,194,891) (260,021,875) 
Total increase (decrease) in net assets (294,912,582) (337,350,012) 
Net Assets   
Beginning of period 3,382,220,043 3,719,570,055 
End of period $3,087,307,461 $3,382,220,043 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Freedom Income Fund

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.44 $11.69 $11.57 $11.26 $11.75 
Income from Investment Operations      
Net investment income (loss)A .22 .23 .18 .19 .21 
Net realized and unrealized gain (loss) (.09) .11 .38 .49 (.27) 
Total from investment operations .13 .34 .56 .68 (.06) 
Distributions from net investment income (.23) (.23) (.19) (.20)B (.21) 
Distributions from net realized gain (.20) (.36) (.25) (.17)B (.22) 
Total distributions (.42)C (.59) (.44) (.37) (.43) 
Net asset value, end of period $11.15 $11.44 $11.69 $11.57 $11.26 
Total ReturnD 1.05% 3.08% 4.86% 6.16% (.45)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .47% .46%G .39% - %H - %H 
Expenses net of fee waivers, if any .47% .46%G .39% -% -% 
Expenses net of all reductions .47% .46%G .39% -% -% 
Net investment income (loss) 1.90% 2.02% 1.57% 1.70% 1.86% 
Supplemental Data      
Net assets, end of period (000 omitted) $1,839,153 $1,978,263 $2,111,741 $2,137,752 $2,184,994 
Portfolio turnover rateF 17% 22% 17%I 31% 20% 

 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 of $.42 per share is comprised of distributions from net investment income of $.225 and distributions from net realized gain of $.197 per share.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $11.42 $11.68 $11.76 
Income from Investment Operations    
Net investment income (loss)B .23 .24 .19 
Net realized and unrealized gain (loss) (.09) .09 .05 
Total from investment operations .14 .33 .24 
Distributions from net investment income (.23) (.24) (.16) 
Distributions from net realized gain (.20) (.36) (.17) 
Total distributions (.43) (.59)C (.32)D 
Net asset value, end of period $11.13 $11.42 $11.68 
Total ReturnE,F 1.12% 3.04% 2.06% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .41% .41%I .42%J 
Expenses net of fee waivers, if any .41% .41%I .42%J 
Expenses net of all reductions .41% .41%I .42%J 
Net investment income (loss) 1.95% 2.07% 2.32%J 
Supplemental Data    
Net assets, end of period (000 omitted) $1,048,404 $1,236,535 $1,568,576 
Portfolio turnover rateH 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 of $.59 per share is comprised of distributions from net investment income of $.236 and distributions from net realized gain of $.357 per share.

 D Total distributions of $.32 per share is comprised of distributions from net investment income of $.157 and distributions from net realized gain of $.166 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $11.42 $11.68 $11.68 
Income from Investment Operations    
Net investment income (loss)B .23 .24 .18 
Net realized and unrealized gain (loss) (.08) .11 .15 
Total from investment operations .15 .35 .33 
Distributions from net investment income (.24) (.25) (.17) 
Distributions from net realized gain (.20) (.36) (.17) 
Total distributions (.44) (.61) (.33)C 
Net asset value, end of period $11.13 $11.42 $11.68 
Total ReturnD,E 1.18% 3.16% 2.86% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .37% .37% .37%H 
Expenses net of fee waivers, if any .37% .37% .37%H 
Expenses net of all reductions .37% .37% .37%H 
Net investment income (loss) 2.00% 2.12% 1.91%H 
Supplemental Data    
Net assets, end of period (000 omitted) $199,750 $167,422 $39,253 
Portfolio turnover rateG 17% 22% 17%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 distributions of $.33 per share is comprised of distributions from net investment income of $.168 and distributions from net realized gain of $.166 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 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

Investment Summary (Unaudited)

The information in the following tables is based on the direct investments of the Fund.

Top Holdings as of March 31, 2020

 % of fund's net assets 
Fidelity Series Investment Grade Bond Fund 37.0 
Fidelity Series Government Money Market Fund 0.4% 18.7 
Fidelity Series Inflation-Protected Bond Index Fund 11.1 
Fidelity Series Emerging Markets Opportunities Fund 4.4 
Fidelity Series Short-Term Credit Fund 4.2 
Fidelity Series Commodity Strategy Fund 3.3 
Fidelity Series International Growth Fund 2.6 
Fidelity Series Long-Term Treasury Bond Index Fund 2.5 
Fidelity Series International Value Fund 2.1 
Fidelity Series Overseas Fund 2.0 
 87.9 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 11.4% 
   International Equity Funds 12.7% 
   Bond Funds 52.5% 
   Short-Term Funds 23.1% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.2% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $659,191) 660,000 659,879 
 Shares Value 
Domestic Equity Funds - 11.4%   
Fidelity Series All-Sector Equity Fund (b) 426,203 $3,341,429 
Fidelity Series Blue Chip Growth Fund (b) 453,390 5,848,737 
Fidelity Series Commodity Strategy Fund (b) 8,513,882 31,075,670 
Fidelity Series Growth Company Fund (b) 787,769 12,367,976 
Fidelity Series Intrinsic Opportunities Fund (b) 1,000,053 12,720,680 
Fidelity Series Large Cap Stock Fund (b) 933,405 11,191,527 
Fidelity Series Large Cap Value Index Fund (b) 326,011 3,132,969 
Fidelity Series Opportunistic Insights Fund (b) 455,348 6,975,934 
Fidelity Series Small Cap Discovery Fund (b) 185,326 1,388,092 
Fidelity Series Small Cap Opportunities Fund (b) 452,881 4,596,747 
Fidelity Series Stock Selector Large Cap Value Fund (b) 948,476 8,517,312 
Fidelity Series Value Discovery Fund (b) 609,451 6,051,852 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $109,958,222)  107,208,925 
International Equity Funds - 12.7%   
Fidelity Series Canada Fund (b) 533,878 4,425,852 
Fidelity Series Emerging Markets Fund (b) 624,676 4,422,703 
Fidelity Series Emerging Markets Opportunities Fund (b) 2,655,205 41,341,535 
Fidelity Series International Growth Fund (b) 1,694,068 24,530,106 
Fidelity Series International Small Cap Fund (b) 435,416 5,821,515 
Fidelity Series International Value Fund (b) 2,822,785 20,154,683 
Fidelity Series Overseas Fund (b) 2,156,065 18,649,964 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $122,483,225)  119,346,358 
Bond Funds - 52.5%   
Fidelity Series Emerging Markets Debt Fund (b) 728,904 5,874,966 
Fidelity Series Floating Rate High Income Fund (b) 180,615 1,452,141 
Fidelity Series High Income Fund (b) 772,445 6,364,947 
Fidelity Series Inflation-Protected Bond Index Fund (b) 10,321,985 104,045,608 
Fidelity Series International Credit Fund (b) 56,937 544,319 
Fidelity Series Investment Grade Bond Fund (b) 30,109,141 347,158,396 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 2,223,028 23,764,173 
Fidelity Series Real Estate Income Fund (b) 448,731 3,778,313 
TOTAL BOND FUNDS   
(Cost $482,520,945)  492,982,863 
Short-Term Funds - 23.1%   
Fidelity Cash Central Fund 0.29% (c) 1,379,711 1,380,124 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 175,058,964 175,058,964 
Fidelity Series Short-Term Credit Fund (b) 4,027,127 39,788,012 
TOTAL SHORT-TERM FUNDS   
(Cost $216,641,967)  216,227,100 
TOTAL INVESTMENT IN SECURITIES - 99.8%   
(Cost $932,263,550)  936,425,125 
NET OTHER ASSETS (LIABILITIES) - 0.2%  1,894,993 
NET ASSETS - 100%  $938,320,118 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $659,879.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $32,629 
Total $32,629 

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 $5,167,025 $937,108 $2,110,700 $550,671 $(161,071) $(490,933) $3,341,429 
Fidelity Series Blue Chip Growth Fund 10,714,747 1,612,198 5,761,750 926,892 1,203,161 (1,919,619) 5,848,737 
Fidelity Series Canada Fund 2,942,173 2,949,054 399,698 79,733 5,417 (1,071,094) 4,425,852 
Fidelity Series Commodity Strategy Fund 22,210,604 21,988,528 4,393,727 518,519 (274,549) (8,455,186) 31,075,670 
Fidelity Series Emerging Markets Debt Fund 7,076,150 1,545,067 1,749,024 394,794 (76,017) (921,210) 5,874,966 
Fidelity Series Emerging Markets Fund 4,370,696 2,168,914 513,299 119,325 (19,488) (1,584,120) 4,422,703 
Fidelity Series Emerging Markets Opportunities Fund 40,831,027 15,731,380 7,271,395 1,237,769 90,394 (8,039,871) 41,341,535 
Fidelity Series Floating Rate High Income Fund 1,677,604 228,271 223,662 97,212 (13,450) (216,622) 1,452,141 
Fidelity Series Government Money Market Fund 0.4% 142,976,866 51,923,462 19,841,364 3,022,485 -- -- 175,058,964 
Fidelity Series Growth Company Fund 19,862,990 3,011,395 9,969,838 1,622,657 2,751,276 (3,287,847) 12,367,976 
Fidelity Series High Income Fund 8,434,501 1,086,730 2,265,950 458,705 (92,132) (798,202) 6,364,947 
Fidelity Series Inflation-Protected Bond Index Fund 108,580,484 17,384,956 25,340,051 1,526,539 (874,548) 4,294,767 104,045,608 
Fidelity Series International Credit Fund 530,111 33,754 -- 33,753 -- (19,546) 544,319 
Fidelity Series International Growth Fund 29,240,204 3,572,141 7,422,048 1,150,975 978,742 (1,838,933) 24,530,106 
Fidelity Series International Small Cap Fund 6,883,875 1,630,072 1,949,382 315,687 175,780 (918,830) 5,821,515 
Fidelity Series International Value Fund 29,262,318 4,632,961 8,003,949 1,183,650 (264,226) (5,472,421) 20,154,683 
Fidelity Series Intrinsic Opportunities Fund 24,327,265 3,918,609 11,512,829 1,042,940 1,518,070 (5,530,435) 12,720,680 
Fidelity Series Investment Grade Bond Fund 329,002,771 60,845,361 53,107,680 10,529,495 271,288 10,146,656 347,158,396 
Fidelity Series Large Cap Stock Fund 21,133,601 3,053,795 10,544,781 1,263,461 1,112,799 (3,563,887) 11,191,527 
Fidelity Series Large Cap Value Index Fund 6,166,714 739,081 2,882,180 312,306 355,684 (1,246,330) 3,132,969 
Fidelity Series Long-Term Treasury Bond Index Fund 45,403,111 5,810,319 33,851,780 2,606,141 2,955,341 3,447,182 23,764,173 
Fidelity Series Opportunistic Insights Fund 10,857,111 1,652,876 4,753,943 884,554 1,408,370 (2,188,480) 6,975,934 
Fidelity Series Overseas Fund -- 21,559,860 -- 47,053 -- (2,909,896) 18,649,964 
Fidelity Series Real Estate Income Fund 4,744,981 715,145 555,146 303,203 (14,688) (1,111,979) 3,778,313 
Fidelity Series Short-Term Credit Fund 35,315,067 9,465,682 4,569,539 1,029,014 (18,968) (404,230) 39,788,012 
Fidelity Series Small Cap Discovery Fund 3,063,684 354,461 1,393,632 154,996 134,537 (770,958) 1,388,092 
Fidelity Series Small Cap Opportunities Fund 8,926,958 1,166,225 4,008,333 496,542 312,917 (1,801,020) 4,596,747 
Fidelity Series Stock Selector Large Cap Value Fund 16,188,284 2,128,934 7,237,073 843,367 840,129 (3,402,962) 8,517,312 
Fidelity Series Value Discovery Fund 11,572,732 1,625,134 5,597,458 442,002 590,710 (2,139,266) 6,051,852 
 $957,463,654 $243,471,473 $237,230,211 $33,194,440 $12,895,478 $(42,215,272) $934,385,122 

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, 2020, 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 $659,879 $-- $659,879 $-- 
Domestic Equity Funds 107,208,925 107,208,925 -- -- 
International Equity Funds 119,346,358 119,346,358 -- -- 
Bond Funds 492,982,863 492,982,863 -- -- 
Short-Term Funds 216,227,100 216,227,100 -- -- 
Total Investments in Securities: $936,425,125 $935,765,246 $659,879 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $659,191) 
$659,879  
Fidelity Central Funds (cost $1,380,082) 1,380,124  
Other affiliated issuers (cost $930,224,277) 934,385,122  
Total Investment in Securities (cost $932,263,550)  $936,425,125 
Segregated cash with brokers for derivative instruments  1,686,666 
Receivable for investments sold  832,313 
Receivable for fund shares sold  1,131,565 
Distributions receivable from Fidelity Central Funds  1,321 
Receivable for daily variation margin on futures contracts  223,112 
Total assets  940,300,102 
Liabilities   
Payable for investments purchased $227  
Payable for fund shares redeemed 1,625,452  
Accrued management fee 354,305  
Total liabilities  1,979,984 
Net Assets  $938,320,118 
Net Assets consist of:   
Paid in capital  $921,337,528 
Total accumulated earnings (loss)  16,982,590 
Net Assets  $938,320,118 
Net Asset Value and Maximum Offering Price   
Fidelity Freedom 2005 Fund:   
Net Asset Value, offering price and redemption price per share ($530,872,421 ÷ 45,443,398 shares)  $11.68 
Class K:   
Net Asset Value, offering price and redemption price per share ($338,901,778 ÷ 29,054,862 shares)  $11.66 
Class K6:   
Net Asset Value, offering price and redemption price per share ($68,545,919 ÷ 5,888,324 shares)  $11.64 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $23,009,866 
Interest  7,768 
Income from Fidelity Central Funds  32,629 
Total income  23,050,263 
Expenses   
Management fee $4,380,972  
Independent trustees' fees and expenses 3,739  
Total expenses before reductions 4,384,711  
Expense reductions (89)  
Total expenses after reductions  4,384,622 
Net investment income (loss)  18,665,641 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 310  
Fidelity Central Funds 10  
Other affiliated issuers 12,895,478  
Futures contracts 2,559,083  
Capital gain distributions from underlying funds:   
Affiliated issuers 10,184,574  
Total net realized gain (loss)  25,639,455 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 663  
Fidelity Central Funds 42  
Other affiliated issuers (42,215,272)  
Futures contracts 84,639  
Total change in net unrealized appreciation (depreciation)  (42,129,928) 
Net gain (loss)  (16,490,473) 
Net increase (decrease) in net assets resulting from operations  $2,175,168 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $18,665,641 $19,610,253 
Net realized gain (loss) 25,639,455 30,025,260 
Change in net unrealized appreciation (depreciation) (42,129,928) (21,224,856) 
Net increase (decrease) in net assets resulting from operations 2,175,168 28,410,657 
Distributions to shareholders (44,000,478) (51,673,028) 
Share transactions - net increase (decrease) 18,264,976 (37,517,008) 
Total increase (decrease) in net assets (23,560,334) (60,779,379) 
Net Assets   
Beginning of period 961,880,452 1,022,659,831 
End of period $938,320,118 $961,880,452 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Freedom 2005 Fund

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $12.20 $12.50 $12.20 $11.66 $12.24 
Income from Investment Operations      
Net investment income (loss)A .23 .24 .19 .20 .22 
Net realized and unrealized gain (loss) (.19) .11 .59 .71 (.34) 
Total from investment operations .04 .35 .78 .91 (.12) 
Distributions from net investment income (.24) (.24) (.18) (.22)B (.22) 
Distributions from net realized gain (.31) (.41) (.30) (.15)B (.23) 
Total distributions (.56)C (.65) (.48) (.37) (.46)D 
Net asset value, end of period $11.68 $12.20 $12.50 $12.20 $11.66 
Total ReturnE .12% 3.03% 6.43% 7.91% (1.01)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .47% .48% .41% - %H - %H 
Expenses net of fee waivers, if any .47% .48% .41% -% -% 
Expenses net of all reductions .47% .48% .41% -% -% 
Net investment income (loss) 1.89% 1.98% 1.52% 1.70% 1.87% 
Supplemental Data      
Net assets, end of period (000 omitted) $530,872 $563,036 $590,056 $583,754 $580,726 
Portfolio turnover rateG 24% 26% 23%I 31% 22% 

 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 of $.56 per share is comprised of distributions from net investment income of $.244 and distributions from net realized gain of $.314 per share.

 D Total distributions of $.46 per share is comprised of distributions from net investment income of $.223 and distributions from net realized gain of $.234 per share.

 E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Amount represents less than .005%.

 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $12.18 $12.49 $12.48 
Income from Investment Operations    
Net investment income (loss)B .24 .25 .21 
Net realized and unrealized gain (loss) (.19) .10 .15 
Total from investment operations .05 .35 .36 
Distributions from net investment income (.25) (.24) (.16) 
Distributions from net realized gain (.31) (.41) (.19) 
Total distributions (.57)C (.66)D (.35) 
Net asset value, end of period $11.66 $12.18 $12.49 
Total ReturnE,F .18% 3.00% 2.89% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .42% .43% .44%I 
Expenses net of fee waivers, if any .42% .43% .44%I 
Expenses net of all reductions .42% .43% .44%I 
Net investment income (loss) 1.94% 2.03% 2.37%I 
Supplemental Data    
Net assets, end of period (000 omitted) $338,902 $357,174 $422,622 
Portfolio turnover rateH 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 of $.57 per share is comprised of distributions from net investment income of $.251 and distributions from net realized gain of $.314 per share.

 D Total distributions of $.66 per share is comprised of distributions from net investment income of $.243 and distributions from net realized gain of $.413 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $12.17 $12.49 $12.36 
Income from Investment Operations    
Net investment income (loss)B .25 .25 .20 
Net realized and unrealized gain (loss) (.20) .11 .29 
Total from investment operations .05 .36 .49 
Distributions from net investment income (.27) (.27) (.16) 
Distributions from net realized gain (.31) (.41) (.19) 
Total distributions (.58) (.68) (.36)C 
Net asset value, end of period $11.64 $12.17 $12.49 
Total ReturnD,E .22% 3.15% 3.92% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .37% .38%H .38%I 
Expenses net of fee waivers, if any .37% .38%H .38%I 
Expenses net of all reductions .37% .38%H .38%I 
Net investment income (loss) 1.99% 2.08% 1.93%I 
Supplemental Data    
Net assets, end of period (000 omitted) $68,546 $41,670 $9,983 
Portfolio turnover rateG 24% 26% 23%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 of $.36 per share is comprised of distributions from net investment income of $.164 and distributions from net realized gain of $.192 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 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 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, 2020

 % of fund's net assets 
Fidelity Series Investment Grade Bond Fund 33.6 
Fidelity Series Government Money Market Fund 0.4% 15.5 
Fidelity Series Inflation-Protected Bond Index Fund 9.5 
Fidelity Series Emerging Markets Opportunities Fund 5.3 
Fidelity Series Short-Term Credit Fund 3.4 
Fidelity Series International Growth Fund 3.4 
Fidelity Series Commodity Strategy Fund 3.3 
Fidelity Series International Value Fund 2.9 
Fidelity Series Overseas Fund 2.7 
Fidelity Series Long-Term Treasury Bond Index Fund 2.5 
 82.1 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 16.8% 
   International Equity Funds 16.3% 
   Bond Funds 47.5% 
   Short-Term Funds 19.1% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.2% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $3,375,264) 3,380,000 3,379,383 
 Shares Value 
Domestic Equity Funds - 16.8%   
Fidelity Series All-Sector Equity Fund (b) 3,575,605 $28,032,741 
Fidelity Series Blue Chip Growth Fund (b) 3,956,258 51,035,732 
Fidelity Series Commodity Strategy Fund (b) 44,980,691 164,179,523 
Fidelity Series Growth Company Fund (b) 6,788,964 106,586,738 
Fidelity Series Intrinsic Opportunities Fund (b) 9,173,062 116,681,353 
Fidelity Series Large Cap Stock Fund (b) 8,538,026 102,370,926 
Fidelity Series Large Cap Value Index Fund (b) 2,918,818 28,049,838 
Fidelity Series Opportunistic Insights Fund (b) 3,766,690 57,705,687 
Fidelity Series Small Cap Discovery Fund (b) 1,522,676 11,404,842 
Fidelity Series Small Cap Opportunities Fund (b) 3,923,946 39,828,055 
Fidelity Series Stock Selector Large Cap Value Fund (b) 8,348,315 74,967,864 
Fidelity Series Value Discovery Fund (b) 5,580,750 55,416,843 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $803,408,740)  836,260,142 
International Equity Funds - 16.3%   
Fidelity Series Canada Fund (b) 4,009,795 33,241,204 
Fidelity Series Emerging Markets Fund (b) 3,947,118 27,945,598 
Fidelity Series Emerging Markets Opportunities Fund (b) 16,849,887 262,352,741 
Fidelity Series International Growth Fund (b) 11,815,835 171,093,288 
Fidelity Series International Small Cap Fund (b) 2,983,437 39,888,556 
Fidelity Series International Value Fund (b) 20,005,677 142,840,532 
Fidelity Series Overseas Fund (b) 15,580,226 134,768,955 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $817,439,896)  812,130,874 
Bond Funds - 47.5%   
Fidelity Series Emerging Markets Debt Fund (b) 3,864,922 31,151,273 
Fidelity Series Floating Rate High Income Fund (b) 843,769 6,783,903 
Fidelity Series High Income Fund (b) 4,140,601 34,118,548 
Fidelity Series Inflation-Protected Bond Index Fund (b) 47,072,173 474,487,500 
Fidelity Series International Credit Fund (b) 383,146 3,662,875 
Fidelity Series Investment Grade Bond Fund (b) 144,970,900 1,671,514,483 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 11,523,675 123,188,090 
Fidelity Series Real Estate Income Fund (b) 2,387,892 20,106,049 
TOTAL BOND FUNDS   
(Cost $2,310,205,377)  2,365,012,721 
Short-Term Funds - 19.1%   
Fidelity Cash Central Fund 0.29% (c) 8,088,253 8,090,679 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 768,710,755 768,710,755 
Fidelity Series Short-Term Credit Fund (b) 17,332,814 171,248,199 
TOTAL SHORT-TERM FUNDS   
(Cost $949,742,740)  948,049,633 
TOTAL INVESTMENT IN SECURITIES - 99.8%   
(Cost $4,884,172,017)  4,964,832,753 
NET OTHER ASSETS (LIABILITIES) - 0.2%  8,921,818 
NET ASSETS - 100%  $4,973,754,571 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $3,379,383.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $175,995 
Total $175,995 

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 $45,616,618 $5,030,837 $17,006,123 $4,756,202 $(1,512,367) $(4,096,224) $28,032,741 
Fidelity Series Blue Chip Growth Fund 92,661,846 8,407,392 43,568,723 8,152,182 10,987,005 (17,451,788) 51,035,732 
Fidelity Series Canada Fund 23,728,118 21,699,298 3,707,531 588,443 88,372 (8,567,053) 33,241,204 
Fidelity Series Commodity Strategy Fund 135,724,053 108,593,421 31,543,566 3,013,020 (4,451,697) (44,142,688) 164,179,523 
Fidelity Series Emerging Markets Debt Fund 43,440,644 4,749,815 11,495,886 2,321,374 (584,152) (4,959,148) 31,151,273 
Fidelity Series Emerging Markets Fund 32,201,584 10,994,400 4,692,556 813,463 (232,552) (10,325,278) 27,945,598 
Fidelity Series Emerging Markets Opportunities Fund 301,024,642 68,430,012 55,874,790 8,345,796 98,462 (51,325,585) 262,352,741 
Fidelity Series Floating Rate High Income Fund 8,664,785 508,041 1,329,800 477,365 (106,154) (952,969) 6,783,903 
Fidelity Series Government Money Market Fund 0.4% 684,837,287 219,333,483 135,460,015 14,039,996 -- -- 768,710,755 
Fidelity Series Growth Company Fund 175,844,462 14,502,719 78,907,813 13,986,454 24,935,985 (29,788,615) 106,586,738 
Fidelity Series High Income Fund 52,080,265 2,821,223 15,936,713 2,665,407 (115,656) (4,730,571) 34,118,548 
Fidelity Series Inflation-Protected Bond Index Fund 538,516,576 51,819,230 132,750,454 7,479,857 1,406,828 15,495,320 474,487,500 
Fidelity Series International Credit Fund 3,567,269 227,133 -- 227,133 -- (131,527) 3,662,875 
Fidelity Series International Growth Fund 233,013,226 9,385,874 67,833,650 8,640,113 19,088,802 (22,560,964) 171,093,288 
Fidelity Series International Small Cap Fund 54,710,672 6,357,239 15,649,179 2,187,911 2,502,752 (8,032,928) 39,888,556 
Fidelity Series International Value Fund 226,433,481 21,933,956 63,120,641 9,041,627 (2,412,985) (39,993,279) 142,840,532 
Fidelity Series Intrinsic Opportunities Fund 215,566,356 19,081,300 82,806,027 9,195,510 18,226,121 (53,386,397) 116,681,353 
Fidelity Series Investment Grade Bond Fund 1,785,031,439 203,296,719 374,733,144 55,055,504 3,249,269 54,670,200 1,671,514,483 
Fidelity Series Large Cap Stock Fund 187,152,281 13,219,892 76,905,478 11,178,045 13,640,411 (34,736,180) 102,370,926 
Fidelity Series Large Cap Value Index Fund 54,085,176 2,994,364 21,413,395 2,702,446 3,665,817 (11,282,124) 28,049,838 
Fidelity Series Long-Term Treasury Bond Index Fund 287,564,333 22,243,430 225,049,947 15,191,958 21,725,786 16,704,488 123,188,090 
Fidelity Series Opportunistic Insights Fund 95,785,417 7,936,295 39,422,849 7,652,707 13,208,113 (19,801,289) 57,705,687 
Fidelity Series Overseas Fund -- 155,682,271 -- 348,402 -- (20,913,316) 134,768,955 
Fidelity Series Real Estate Income Fund 28,448,829 1,844,562 4,181,753 1,747,990 137,077 (6,142,666) 20,106,049 
Fidelity Series Short-Term Credit Fund 168,841,907 32,742,258 28,685,976 4,744,483 (51,308) (1,598,682) 171,248,199 
Fidelity Series Small Cap Discovery Fund 26,806,607 1,426,362 11,413,076 1,353,018 1,105,214 (6,520,265) 11,404,842 
Fidelity Series Small Cap Opportunities Fund 77,189,894 5,275,677 29,756,575 4,363,782 5,322,935 (18,203,876) 39,828,055 
Fidelity Series Stock Selector Large Cap Value Fund 143,188,341 8,233,233 54,836,159 7,263,592 8,410,126 (30,027,677) 74,967,864 
Fidelity Series Value Discovery Fund 102,153,762 6,952,958 40,383,897 3,819,680 7,361,263 (20,667,243) 55,416,843 
 $5,823,879,870 $1,035,723,394 $1,668,465,716 $211,353,460 $145,693,467 $(383,468,324) $4,953,362,691 

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, 2020, 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 $3,379,383 $-- $3,379,383 $-- 
Domestic Equity Funds 836,260,142 836,260,142 -- -- 
International Equity Funds 812,130,874 812,130,874 -- -- 
Bond Funds 2,365,012,721 2,365,012,721 -- -- 
Short-Term Funds 948,049,633 948,049,633 -- -- 
Total Investments in Securities: $4,964,832,753 $4,961,453,370 $3,379,383 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $3,375,264) 
$3,379,383  
Fidelity Central Funds (cost $8,090,173) 8,090,679  
Other affiliated issuers (cost $4,872,706,580) 4,953,362,691  
Total Investment in Securities (cost $4,884,172,017)  $4,964,832,753 
Segregated cash with brokers for derivative instruments  7,934,135 
Receivable for investments sold  6,512,965 
Receivable for fund shares sold  2,729,404 
Distributions receivable from Fidelity Central Funds  7,092 
Receivable for daily variation margin on futures contracts  1,075,739 
Other receivables  86,108 
Total assets  4,983,178,196 
Liabilities   
Payable for investments purchased $830  
Payable for fund shares redeemed 7,244,370  
Accrued management fee 2,092,318  
Other payables and accrued expenses 86,107  
Total liabilities  9,423,625 
Net Assets  $4,973,754,571 
Net Assets consist of:   
Paid in capital  $4,774,378,280 
Total accumulated earnings (loss)  199,376,291 
Net Assets  $4,973,754,571 
Net Asset Value and Maximum Offering Price   
Fidelity Freedom 2010 Fund:   
Net Asset Value, offering price and redemption price per share ($3,284,757,545 ÷ 229,584,341 shares)  $14.31 
Class K:   
Net Asset Value, offering price and redemption price per share ($1,431,596,792 ÷ 100,125,371 shares)  $14.30 
Class K6:   
Net Asset Value, offering price and redemption price per share ($257,400,234 ÷ 18,060,227 shares)  $14.25 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $133,475,345 
Interest  45,938 
Income from Fidelity Central Funds  175,995 
Total income  133,697,278 
Expenses   
Management fee $27,834,259  
Independent trustees' fees and expenses 22,014  
Total expenses before reductions 27,856,273  
Expense reductions (23)  
Total expenses after reductions  27,856,250 
Net investment income (loss)  105,841,028 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 4,397  
Fidelity Central Funds 89  
Other affiliated issuers 145,693,467  
Futures contracts 15,737,308  
Capital gain distributions from underlying funds:   
Affiliated issuers 77,878,115  
Total net realized gain (loss)  239,313,376 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 3,996  
Fidelity Central Funds 211  
Other affiliated issuers (383,468,324)  
Futures contracts 494,222  
Total change in net unrealized appreciation (depreciation)  (382,969,895) 
Net gain (loss)  (143,656,519) 
Net increase (decrease) in net assets resulting from operations  $(37,815,491) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $105,841,028 $117,478,879 
Net realized gain (loss) 239,313,376 248,006,914 
Change in net unrealized appreciation (depreciation) (382,969,895) (201,329,715) 
Net increase (decrease) in net assets resulting from operations (37,815,491) 164,156,078 
Distributions to shareholders (326,178,030) (403,378,051) 
Share transactions - net increase (decrease) (509,728,586) (407,651,367) 
Total increase (decrease) in net assets (873,722,107) (646,873,340) 
Net Assets   
Beginning of period 5,847,476,678 6,494,350,018 
End of period $4,973,754,571 $5,847,476,678 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Freedom 2010 Fund

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $15.35 $15.98 $15.56 $14.75 $15.75 
Income from Investment Operations      
Net investment income (loss)A .29 .29 .24 .26 .28 
Net realized and unrealized gain (loss) (.43) .12 .95 1.08 (.50) 
Total from investment operations (.14) .41 1.19 1.34 (.22) 
Distributions from net investment income (.31) (.30) (.23) (.26) (.29) 
Distributions from net realized gain (.60) (.74) (.54) (.26) (.49) 
Total distributions (.90)B (1.04) (.77) (.53)C (.78) 
Net asset value, end of period $14.31 $15.35 $15.98 $15.56 $14.75 
Total ReturnD (1.25)% 2.89% 7.74% 9.27% (1.42)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .52% .52%G .44% - %H - %H 
Expenses net of fee waivers, if any .52% .52%G .44% -% -% 
Expenses net of all reductions .52% .52%G .44% -% -% 
Net investment income (loss) 1.84% 1.90% 1.47% 1.69% 1.86% 
Supplemental Data      
Net assets, end of period (000 omitted) $3,284,758 $3,724,077 $4,038,370 $4,137,360 $4,271,151 
Portfolio turnover rateF 18% 20% 19%I 23% 17% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.90 per share is comprised of distributions from net investment income of $.307 and distributions from net realized gain of $.596 per share.

 C Total distributions of $.53 per share is comprised of distributions from net investment income of $.262 and distributions from net realized gain of $.264 per share.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $15.34 $15.97 $15.96 
Income from Investment Operations    
Net investment income (loss)B .30 .30 .27 
Net realized and unrealized gain (loss) (.43) .12 .31 
Total from investment operations (.13) .42 .58 
Distributions from net investment income (.31) (.31) (.22) 
Distributions from net realized gain (.60) (.74) (.35) 
Total distributions (.91) (1.05) (.57) 
Net asset value, end of period $14.30 $15.34 $15.97 
Total ReturnC,D (1.21)% 2.95% 3.59% 
Ratios to Average Net AssetsE,F    
Expenses before reductions .45% .46% .47%G 
Expenses net of fee waivers, if any .45% .46% .47%G 
Expenses net of all reductions .45% .46% .47%G 
Net investment income (loss) 1.91% 1.96% 2.42%G 
Supplemental Data    
Net assets, end of period (000 omitted) $1,431,597 $1,909,779 $2,396,182 
Portfolio turnover rateF 18% 20% 19%H 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 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 2010 Fund Class K6

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $15.30 $15.97 $15.77 
Income from Investment Operations    
Net investment income (loss)B .30 .31 .27 
Net realized and unrealized gain (loss) (.42) .11 .50 
Total from investment operations (.12) .42 .77 
Distributions from net investment income (.34) (.35) (.22) 
Distributions from net realized gain (.60) (.74) (.35) 
Total distributions (.93)C (1.09) (.57) 
Net asset value, end of period $14.25 $15.30 $15.97 
Total ReturnD,E (1.14)% 2.96% 4.89% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .39% .39% .40%H 
Expenses net of fee waivers, if any .39% .39% .40%H 
Expenses net of all reductions .39% .39% .40%H 
Net investment income (loss) 1.97% 2.03% 2.07%H 
Supplemental Data    
Net assets, end of period (000 omitted) $257,400 $213,620 $59,797 
Portfolio turnover rateG 18% 20% 19%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 distributions of $.93 per share is comprised of distributions from net investment income of $.336 and distributions from net realized gain of $.596 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 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® 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, 2020

 % of fund's net assets 
Fidelity Series Investment Grade Bond Fund 29.8 
Fidelity Series Government Money Market Fund 0.4% 12.3 
Fidelity Series Inflation-Protected Bond Index Fund 8.4 
Fidelity Series Emerging Markets Opportunities Fund 6.3 
Fidelity Series International Growth Fund 4.2 
Fidelity Series International Value Fund 3.6 
Fidelity Series Overseas Fund 3.5 
Fidelity Series Commodity Strategy Fund 3.3 
Fidelity Series Intrinsic Opportunities Fund 3.3 
Fidelity Series Growth Company Fund 2.9 
 77.6 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 21.9% 
   International Equity Funds 20.2% 
   Bond Funds 42.6% 
   Short-Term Funds 15.0% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.2% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $4,652,626) 4,660,000 4,659,153 
 Shares Value 
Domestic Equity Funds - 21.9%   
Fidelity Series All-Sector Equity Fund (b) 7,212,665 $56,547,292 
Fidelity Series Blue Chip Growth Fund (b) 7,937,266 102,390,731 
Fidelity Series Commodity Strategy Fund (b) 65,428,769 238,815,009 
Fidelity Series Growth Company Fund (b) 13,569,186 213,036,213 
Fidelity Series Intrinsic Opportunities Fund (b) 18,752,257 238,528,707 
Fidelity Series Large Cap Stock Fund (b) 17,121,480 205,286,549 
Fidelity Series Large Cap Value Index Fund (b) 5,863,198 56,345,334 
Fidelity Series Opportunistic Insights Fund (b) 7,557,724 115,784,325 
Fidelity Series Small Cap Discovery Fund (b) 3,048,392 22,832,454 
Fidelity Series Small Cap Opportunities Fund (b) 7,859,230 79,771,188 
Fidelity Series Stock Selector Large Cap Value Fund (b) 16,720,675 150,151,660 
Fidelity Series Value Discovery Fund (b) 11,290,827 112,117,914 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $1,500,733,846)  1,591,607,376 
International Equity Funds - 20.2%   
Fidelity Series Canada Fund (b) 7,932,909 65,763,814 
Fidelity Series Emerging Markets Fund (b) 6,723,742 47,604,094 
Fidelity Series Emerging Markets Opportunities Fund (b) 29,250,381 455,428,436 
Fidelity Series International Growth Fund (b) 21,308,712 308,550,153 
Fidelity Series International Small Cap Fund (b) 5,441,277 72,749,871 
Fidelity Series International Value Fund (b) 36,870,536 263,255,626 
Fidelity Series Overseas Fund (b) 29,218,593 252,740,831 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $1,475,063,059)  1,466,092,825 
Bond Funds - 42.6%   
Fidelity Series Emerging Markets Debt Fund (b) 5,643,778 45,488,852 
Fidelity Series Floating Rate High Income Fund (b) 1,183,279 9,513,559 
Fidelity Series High Income Fund (b) 6,142,283 50,612,414 
Fidelity Series Inflation-Protected Bond Index Fund (b) 60,250,468 607,324,717 
Fidelity Series International Credit Fund (b) 582,594 5,569,597 
Fidelity Series Investment Grade Bond Fund (b) 187,740,241 2,164,644,980 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 17,328,642 185,243,180 
Fidelity Series Real Estate Income Fund (b) 3,424,181 28,831,604 
TOTAL BOND FUNDS   
(Cost $2,996,674,030)  3,097,228,903 
Short-Term Funds - 15.0%   
Fidelity Cash Central Fund 0.29% (c) 10,132,614 10,135,654 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 889,239,670 889,239,670 
Fidelity Series Short-Term Credit Fund (b) 19,168,280 189,382,610 
TOTAL SHORT-TERM FUNDS   
(Cost $1,090,717,227)  1,088,757,934 
TOTAL INVESTMENT IN SECURITIES - 99.8%   
(Cost $7,067,840,788)  7,248,346,191 
NET OTHER ASSETS (LIABILITIES) - 0.2%  11,719,915 
NET ASSETS - 100%  $7,260,066,106 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $4,659,153.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $270,753 
Total $270,753 

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 $94,056,484 $10,207,234 $36,341,392 $9,611,262 $(747,314) $(10,627,720) $56,547,292 
Fidelity Series Blue Chip Growth Fund 183,528,111 16,700,923 84,846,757 16,253,640 21,246,222 (34,237,768) 102,390,731 
Fidelity Series Canada Fund 45,145,985 44,685,739 7,073,130 1,087,407 139,641 (17,134,421) 65,763,814 
Fidelity Series Commodity Strategy Fund 207,571,372 157,822,612 53,764,361 4,542,554 (4,907,512) (67,907,102) 238,815,009 
Fidelity Series Emerging Markets Debt Fund 63,513,876 5,899,582 15,583,179 3,371,470 (943,174) (7,398,253) 45,488,852 
Fidelity Series Emerging Markets Fund 53,706,289 21,868,330 9,819,614 1,434,340 (546,240) (17,604,671) 47,604,094 
Fidelity Series Emerging Markets Opportunities Fund 519,509,226 122,798,644 98,302,272 14,510,103 175,886 (88,753,048) 455,428,436 
Fidelity Series Floating Rate High Income Fund 12,627,967 719,712 2,333,527 682,219 (201,906) (1,298,687) 9,513,559 
Fidelity Series Government Money Market Fund 0.4% 793,686,618 320,155,814 224,602,762 15,958,062 -- -- 889,239,670 
Fidelity Series Growth Company Fund 351,438,450 29,195,277 157,474,380 28,286,517 49,645,640 (59,768,774) 213,036,213 
Fidelity Series High Income Fund 80,221,715 4,174,829 26,536,566 4,005,980 288,478 (7,536,042) 50,612,414 
Fidelity Series Inflation-Protected Bond Index Fund 638,539,715 111,716,506 162,813,029 9,655,107 593,977 19,287,548 607,324,717 
Fidelity Series International Credit Fund 5,424,223 345,368 -- 345,367 -- (199,994) 5,569,597 
Fidelity Series International Growth Fund 436,087,002 17,324,532 139,674,091 16,132,936 40,260,235 (45,447,525) 308,550,153 
Fidelity Series International Small Cap Fund 102,394,552 12,275,898 31,452,465 4,014,995 4,988,619 (15,456,733) 72,749,871 
Fidelity Series International Value Fund 419,512,342 52,327,157 129,601,869 16,974,003 (654,101) (78,327,903) 263,255,626 
Fidelity Series Intrinsic Opportunities Fund 431,252,852 38,032,340 159,199,558 18,342,671 21,922,678 (93,479,605) 238,528,707 
Fidelity Series Investment Grade Bond Fund 2,379,972,366 330,308,318 622,355,301 72,948,474 4,637,211 72,082,386 2,164,644,980 
Fidelity Series Large Cap Stock Fund 374,248,483 25,363,812 151,224,041 22,372,404 21,142,699 (64,244,404) 205,286,549 
Fidelity Series Large Cap Value Index Fund 107,332,626 6,152,402 41,513,535 5,460,351 5,959,016 (21,585,175) 56,345,334 
Fidelity Series Long-Term Treasury Bond Index Fund 446,683,024 36,890,513 357,214,959 23,011,765 33,890,852 24,993,750 185,243,180 
Fidelity Series Opportunistic Insights Fund 190,978,515 15,969,773 77,643,931 15,472,954 25,700,873 (39,220,905) 115,784,325 
Fidelity Series Overseas Fund -- 292,435,168 -- 651,790 -- (39,694,337) 252,740,831 
Fidelity Series Real Estate Income Fund 42,156,219 2,657,860 7,332,923 2,539,307 275,255 (8,924,807) 28,831,604 
Fidelity Series Short-Term Credit Fund 196,087,723 37,450,997 42,392,572 5,363,334 (46,482) (1,717,056) 189,382,610 
Fidelity Series Small Cap Discovery Fund 52,229,192 2,847,430 21,137,045 2,716,447 1,802,460 (12,909,583) 22,832,454 
Fidelity Series Small Cap Opportunities Fund 152,816,524 9,719,163 56,628,406 8,696,464 8,835,323 (34,971,416) 79,771,188 
Fidelity Series Stock Selector Large Cap Value Fund 286,066,304 16,112,003 107,838,384 14,677,291 15,790,462 (59,978,725) 150,151,660 
Fidelity Series Value Discovery Fund 203,757,103 13,220,248 77,585,856 7,718,018 13,939,791 (41,213,372) 112,117,914 
 $8,870,544,858 $1,755,378,184 $2,902,285,905 $346,837,232 $263,188,589 $(753,274,342) $7,233,551,384 

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, 2020, 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 $4,659,153 $-- $4,659,153 $-- 
Domestic Equity Funds 1,591,607,376 1,591,607,376 -- -- 
International Equity Funds 1,466,092,825 1,466,092,825 -- -- 
Bond Funds 3,097,228,903 3,097,228,903 -- -- 
Short-Term Funds 1,088,757,934 1,088,757,934 -- -- 
Total Investments in Securities: $7,248,346,191 $7,243,687,038 $4,659,153 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $4,652,626) 
$4,659,153  
Fidelity Central Funds (cost $10,134,838) 10,135,654  
Other affiliated issuers (cost $7,053,053,324) 7,233,551,384  
Total Investment in Securities (cost $7,067,840,788)  $7,248,346,191 
Segregated cash with brokers for derivative instruments  10,423,062 
Receivable for investments sold  16,273,496 
Receivable for fund shares sold  4,478,139 
Distributions receivable from Fidelity Central Funds  9,669 
Receivable for daily variation margin on futures contracts  1,434,253 
Total assets  7,280,964,810 
Liabilities   
Payable for investments purchased $2,020  
Payable for fund shares redeemed 17,620,764  
Accrued management fee 3,275,920  
Total liabilities  20,898,704 
Net Assets  $7,260,066,106 
Net Assets consist of:   
Paid in capital  $6,869,187,236 
Total accumulated earnings (loss)  390,878,870 
Net Assets  $7,260,066,106 
Net Asset Value and Maximum Offering Price   
Fidelity Freedom 2015 Fund:   
Net Asset Value, offering price and redemption price per share ($4,174,064,714 ÷ 361,886,258 shares)  $11.53 
Class K:   
Net Asset Value, offering price and redemption price per share ($2,524,326,410 ÷ 219,142,031 shares)  $11.52 
Class K6:   
Net Asset Value, offering price and redemption price per share ($561,674,982 ÷ 48,877,929 shares)  $11.49 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $200,278,641 
Interest  67,663 
Income from Fidelity Central Funds  270,753 
Total income  200,617,057 
Expenses   
Management fee $44,556,684  
Independent trustees' fees and expenses 33,171  
Total expenses before reductions 44,589,855  
Expense reductions (197)  
Total expenses after reductions  44,589,658 
Net investment income (loss)  156,027,399 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 6,116  
Fidelity Central Funds 65  
Other affiliated issuers 263,188,589  
Futures contracts 22,659,765  
Capital gain distributions from underlying funds:   
Affiliated issuers 146,558,591  
Total net realized gain (loss)  432,413,126 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 6,402  
Fidelity Central Funds 422  
Other affiliated issuers (753,274,342)  
Futures contracts 690,956  
Total change in net unrealized appreciation (depreciation)  (752,576,562) 
Net gain (loss)  (320,163,436) 
Net increase (decrease) in net assets resulting from operations  $(164,136,037) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $156,027,399 $173,895,387 
Net realized gain (loss) 432,413,126 467,426,440 
Change in net unrealized appreciation (depreciation) (752,576,562) (398,422,463) 
Net increase (decrease) in net assets resulting from operations (164,136,037) 242,899,364 
Distributions to shareholders (571,740,150) (689,733,866) 
Share transactions - net increase (decrease) (910,583,607) (765,552,717) 
Total increase (decrease) in net assets (1,646,459,794) (1,212,387,219) 
Net Assets   
Beginning of period 8,906,525,900 10,118,913,119 
End of period $7,260,066,106 $8,906,525,900 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Freedom 2015 Fund

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $12.68 $13.33 $12.82 $12.03 $12.92 
Income from Investment Operations      
Net investment income (loss)A .23 .23 .19 .21 .23 
Net realized and unrealized gain (loss) (.52) .08 .97 1.04 (.46) 
Total from investment operations (.29) .31 1.16 1.25 (.23) 
Distributions from net investment income (.24) (.24) (.19) (.21) (.23) 
Distributions from net realized gain (.62) (.73) (.46) (.24) (.43) 
Total distributions (.86) (.96)B (.65) (.46)C (.66) 
Net asset value, end of period $11.53 $12.68 $13.33 $12.82 $12.03 
Total ReturnD (2.80)% 2.74% 9.15% 10.63% (1.83)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .56% .57% .48% - %G - %G 
Expenses net of fee waivers, if any .56% .57% .48% -% -% 
Expenses net of all reductions .56% .57% .48% -% -% 
Net investment income (loss) 1.80% 1.82% 1.40% 1.69% 1.87% 
Supplemental Data      
Net assets, end of period (000 omitted) $4,174,065 $4,946,449 $5,380,580 $5,327,313 $5,354,142 
Portfolio turnover rateF 21% 19% 23%H 21% 17% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.96 per share is comprised of distributions from net investment income of $.239 and distributions from net realized gain of $.725 per share.

 C Total distributions of $.46 per share is comprised of distributions from net investment income of $.214 and distributions from net realized gain of $.243 per share.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Amount represents less than .005%.

 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $12.66 $13.31 $13.21 
Income from Investment Operations    
Net investment income (loss)B .24 .24 .22 
Net realized and unrealized gain (loss) (.51) .08 .34 
Total from investment operations (.27) .32 .56 
Distributions from net investment income (.25) (.25) (.18) 
Distributions from net realized gain (.62) (.73) (.29) 
Total distributions (.87) (.97)C (.46)D 
Net asset value, end of period $11.52 $12.66 $13.31 
Total ReturnE,F (2.67)% 2.80% 4.25% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .49% .50% .51%I,J 
Expenses net of fee waivers, if any .49% .50% .51%I,J 
Expenses net of all reductions .49% .50% .51%I,J 
Net investment income (loss) 1.87% 1.89% 2.39%I 
Supplemental Data    
Net assets, end of period (000 omitted) $2,524,326 $3,471,921 $4,624,065 
Portfolio turnover rateH 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 of $.97 per share is comprised of distributions from net investment income of $.246 and distributions from net realized gain of $.725 per share.

 D Total distributions of $.46 per share is comprised of distributions from net investment income of $.176 and distributions from net realized gain of $.288 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $12.64 $13.32 $13.03 
Income from Investment Operations    
Net investment income (loss)B .25 .25 .21 
Net realized and unrealized gain (loss) (.51) .08 .55 
Total from investment operations (.26) .33 .76 
Distributions from net investment income (.27) (.28) (.18) 
Distributions from net realized gain (.62) (.73) (.29) 
Total distributions (.89) (1.01) (.47) 
Net asset value, end of period $11.49 $12.64 $13.32 
Total ReturnC,D (2.61)% 2.87% 5.80% 
Ratios to Average Net AssetsE,F    
Expenses before reductions .41% .41% .42%G 
Expenses net of fee waivers, if any .41% .41% .42%G 
Expenses net of all reductions .41% .41% .42%G 
Net investment income (loss) 1.95% 1.97% 1.88%G 
Supplemental Data    
Net assets, end of period (000 omitted) $561,675 $488,156 $114,268 
Portfolio turnover rateF 21% 19% 23%H 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 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

Investment Summary (Unaudited)

The information in the following tables is based on the direct investments of the Fund.

Top Holdings as of March 31, 2020

 % of fund's net assets 
Fidelity Series Investment Grade Bond Fund 26.3 
Fidelity Series Government Money Market Fund 0.4% 9.3 
Fidelity Series Inflation-Protected Bond Index Fund 7.2 
Fidelity Series Emerging Markets Opportunities Fund 7.1 
Fidelity Series International Growth Fund 5.0 
Fidelity Series International Value Fund 4.3 
Fidelity Series Intrinsic Opportunities Fund 4.2 
Fidelity Series Overseas Fund 4.2 
Fidelity Series Growth Company Fund 3.7 
Fidelity Series Large Cap Stock Fund 3.5 
 74.8 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 26.8% 
   International Equity Funds 23.6% 
   Bond Funds 38.0% 
   Short-Term Funds 11.3% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.2% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.55% 4/23/20 to 6/4/20 (a)   
(Cost $11,984,530) 12,000,000 11,998,192 
 Shares Value 
Domestic Equity Funds - 26.8%   
Fidelity Series All-Sector Equity Fund (b) 28,336,439 $222,157,681 
Fidelity Series Blue Chip Growth Fund (b) 31,106,595 401,275,081 
Fidelity Series Commodity Strategy Fund (b) 205,610,087 750,476,816 
Fidelity Series Growth Company Fund (b) 53,037,401 832,687,196 
Fidelity Series Intrinsic Opportunities Fund (b) 74,404,672 946,427,431 
Fidelity Series Large Cap Stock Fund (b) 66,696,730 799,693,788 
Fidelity Series Large Cap Value Index Fund (b) 22,848,269 219,571,867 
Fidelity Series Opportunistic Insights Fund (b) 29,444,510 451,089,896 
Fidelity Series Small Cap Discovery Fund (b) 11,885,180 89,019,997 
Fidelity Series Small Cap Opportunities Fund (b) 30,669,481 311,295,228 
Fidelity Series Stock Selector Large Cap Value Fund (b) 65,211,227 585,596,818 
Fidelity Series Value Discovery Fund (b) 43,991,510 436,835,697 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $5,763,792,037)  6,046,127,496 
International Equity Funds - 23.6%   
Fidelity Series Canada Fund (b) 29,982,823 248,557,602 
Fidelity Series Emerging Markets Fund (b) 23,658,473 167,501,987 
Fidelity Series Emerging Markets Opportunities Fund (b) 103,519,446 1,611,797,769 
Fidelity Series International Growth Fund (b) 78,303,759 1,133,838,427 
Fidelity Series International Small Cap Fund (b) 19,701,224 263,405,367 
Fidelity Series International Value Fund (b) 135,638,626 968,459,791 
Fidelity Series Overseas Fund (b) 108,481,867 938,368,150 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $5,455,117,937)  5,331,929,093 
Bond Funds - 38.0%   
Fidelity Series Emerging Markets Debt Fund (b) 17,532,387 141,311,043 
Fidelity Series Floating Rate High Income Fund (b) 3,478,323 27,965,717 
Fidelity Series High Income Fund (b) 19,389,690 159,771,045 
Fidelity Series Inflation-Protected Bond Index Fund (b) 160,860,917 1,621,478,041 
Fidelity Series International Credit Fund (b) 1,978,505 18,914,504 
Fidelity Series Investment Grade Bond Fund (b) 514,596,524 5,933,297,925 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 54,703,245 584,777,693 
Fidelity Series Real Estate Income Fund (b) 10,942,352 92,134,606 
TOTAL BOND FUNDS   
(Cost $8,363,891,327)  8,579,650,574 
Short-Term Funds - 11.3%   
Fidelity Cash Central Fund 0.29% (c) 30,001,402 30,010,402 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 2,093,461,675 2,093,461,675 
Fidelity Series Short-Term Credit Fund (b) 42,470,130 419,604,884 
TOTAL SHORT-TERM FUNDS   
(Cost $2,547,473,070)  2,543,076,961 
TOTAL INVESTMENT IN SECURITIES - 99.8%   
(Cost $22,142,258,901)  22,512,782,316 
NET OTHER ASSETS (LIABILITIES) - 0.2%  36,055,711 
NET ASSETS - 100%  $22,548,838,027 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $11,998,192.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $740,625 
Total $740,625 

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 $348,985,894 $42,359,875 $123,903,695 $37,372,530 $(4,483,152) $(40,801,241) $222,157,681 
Fidelity Series Blue Chip Growth Fund 678,440,644 66,384,001 291,587,954 62,911,979 63,387,733 (115,349,343) 401,275,081 
Fidelity Series Canada Fund 162,535,812 177,668,046 26,970,504 4,124,449 553,367 (65,229,119) 248,557,602 
Fidelity Series Commodity Strategy Fund 648,066,793 496,129,721 164,777,685 14,521,108 (32,762,501) (196,179,512) 750,476,816 
Fidelity Series Emerging Markets Debt Fund 191,013,165 15,331,935 38,543,954 10,317,670 (2,512,782) (23,977,321) 141,311,043 
Fidelity Series Emerging Markets Fund 190,493,230 73,468,713 33,119,783 5,180,994 (1,531,136) (61,809,037) 167,501,987 
Fidelity Series Emerging Markets Opportunities Fund 1,780,054,457 449,093,325 305,819,824 51,420,775 (1,804,079) (309,726,110) 1,611,797,769 
Fidelity Series Floating Rate High Income Fund 37,128,969 2,164,949 6,913,331 2,017,794 (578,719) (3,836,151) 27,965,717 
Fidelity Series Government Money Market Fund 0.4% 1,841,889,984 957,396,750 705,825,059 36,717,067 -- -- 2,093,461,675 
Fidelity Series Growth Company Fund 1,319,414,474 114,160,508 559,033,528 109,817,440 165,147,043 (207,001,301) 832,687,196 
Fidelity Series High Income Fund 251,669,491 13,198,677 82,272,696 12,632,948 (1,052,317) (21,772,110) 159,771,045 
Fidelity Series Inflation-Protected Bond Index Fund 1,462,674,190 532,501,703 421,001,100 25,697,574 1,598,329 45,704,919 1,621,478,041 
Fidelity Series International Credit Fund 18,420,811 1,172,877 -- 1,172,877 -- (679,184) 18,914,504 
Fidelity Series International Growth Fund 1,574,757,886 65,046,742 486,473,380 59,622,386 121,053,775 (140,546,596) 1,133,838,427 
Fidelity Series International Small Cap Fund 371,427,916 33,633,494 102,297,146 14,818,902 12,347,686 (51,706,583) 263,405,367 
Fidelity Series International Value Fund 1,499,633,233 211,244,539 450,002,629 62,550,215 (20,910,764) (271,504,588) 968,459,791 
Fidelity Series Intrinsic Opportunities Fund 1,617,546,617 159,943,781 550,653,717 70,910,860 (19,613,320) (260,795,930) 946,427,431 
Fidelity Series Investment Grade Bond Fund 6,517,070,943 976,675,100 1,774,223,062 202,574,493 9,848,564 203,926,380 5,933,297,925 
Fidelity Series Large Cap Stock Fund 1,398,688,050 98,287,635 527,359,921 85,743,451 52,351,894 (222,273,870) 799,693,788 
Fidelity Series Large Cap Value Index Fund 403,711,107 24,242,193 146,895,098 21,222,051 13,905,654 (75,391,989) 219,571,867 
Fidelity Series Long-Term Treasury Bond Index Fund 1,420,887,415 152,572,428 1,177,037,809 73,635,835 109,571,645 78,784,014 584,777,693 
Fidelity Series Opportunistic Insights Fund 713,668,349 62,484,351 270,712,279 60,128,293 80,104,728 (134,455,253) 451,089,896 
Fidelity Series Overseas Fund -- 1,087,529,996 -- 2,485,541 -- (149,161,846) 938,368,150 
Fidelity Series Real Estate Income Fund 132,913,632 8,585,557 21,743,190 8,123,162 12,007 (27,633,400) 92,134,606 
Fidelity Series Short-Term Credit Fund 464,921,807 88,723,161 130,468,582 12,328,248 123,843 (3,695,345) 419,604,884 
Fidelity Series Small Cap Discovery Fund 190,664,833 11,079,473 69,015,793 10,461,377 5,321,801 (49,030,317) 89,019,997 
Fidelity Series Small Cap Opportunities Fund 565,288,705 35,557,679 186,638,508 33,656,050 6,999,908 (109,912,556) 311,295,228 
Fidelity Series Stock Selector Large Cap Value Fund 1,073,557,659 63,912,707 377,909,562 56,842,913 44,126,306 (218,090,292) 585,596,818 
Fidelity Series Value Discovery Fund 764,752,346 49,356,286 270,008,563 30,000,646 44,311,723 (151,576,095) 436,835,697 
 $27,640,278,412 $6,069,906,202 $9,301,208,352 $1,179,009,628 $645,517,236 $(2,583,719,776) $22,470,773,722 

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, 2020, 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 $11,998,192 $-- $11,998,192 $-- 
Domestic Equity Funds 6,046,127,496 6,046,127,496 -- -- 
International Equity Funds 5,331,929,093 5,331,929,093 -- -- 
Bond Funds 8,579,650,574 8,579,650,574 -- -- 
Short-Term Funds 2,543,076,961 2,543,076,961 -- -- 
Total Investments in Securities: $22,512,782,316 $22,500,784,124 $11,998,192 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $11,984,530) 
$11,998,192  
Fidelity Central Funds (cost $30,008,321) 30,010,402  
Other affiliated issuers (cost $22,100,266,050) 22,470,773,722  
Total Investment in Securities (cost $22,142,258,901)  $22,512,782,316 
Segregated cash with brokers for derivative instruments  32,329,008 
Receivable for investments sold  40,811,334 
Receivable for fund shares sold  18,168,211 
Distributions receivable from Fidelity Central Funds  28,153 
Receivable for daily variation margin on futures contracts  4,216,028 
Other receivables  226,065 
Total assets  22,608,561,115 
Liabilities   
Payable for investments purchased $3,118  
Payable for fund shares redeemed 48,751,155  
Accrued management fee 10,742,759  
Other payables and accrued expenses 226,056  
Total liabilities  59,723,088 
Net Assets  $22,548,838,027 
Net Assets consist of:   
Paid in capital  $21,521,995,401 
Total accumulated earnings (loss)  1,026,842,626 
Net Assets  $22,548,838,027 
Net Asset Value and Maximum Offering Price   
Fidelity Freedom 2020 Fund:   
Net Asset Value, offering price and redemption price per share ($10,620,621,273 ÷ 747,336,589 shares)  $14.21 
Class K:   
Net Asset Value, offering price and redemption price per share ($9,840,292,966 ÷ 693,057,239 shares)  $14.20 
Class K6:   
Net Asset Value, offering price and redemption price per share ($2,087,923,788 ÷ 147,400,279 shares)  $14.16 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $632,230,352 
Interest  210,105 
Income from Fidelity Central Funds  740,625 
Total income  633,181,082 
Expenses   
Management fee $147,972,377  
Independent trustees' fees and expenses 104,432  
Total expenses before reductions 148,076,809  
Expense reductions (2)  
Total expenses after reductions  148,076,807 
Net investment income (loss)  485,104,275 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 35,294  
Fidelity Central Funds 837  
Other affiliated issuers 645,517,236  
Futures contracts 66,853,744  
Capital gain distributions from underlying funds:   
Affiliated issuers 546,779,276  
Total net realized gain (loss)  1,259,186,387 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 13,293  
Fidelity Central Funds 441  
Other affiliated issuers (2,583,719,776)  
Futures contracts 2,712,143  
Total change in net unrealized appreciation (depreciation)  (2,580,993,899) 
Net gain (loss)  (1,321,807,512) 
Net increase (decrease) in net assets resulting from operations  $(836,703,237) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $485,104,275 $515,832,189 
Net realized gain (loss) 1,259,186,387 1,353,901,114 
Change in net unrealized appreciation (depreciation) (2,580,993,899) (1,142,451,116) 
Net increase (decrease) in net assets resulting from operations (836,703,237) 727,282,187 
Distributions to shareholders (1,779,102,780) (1,867,405,063) 
Share transactions - net increase (decrease) (2,571,249,276) (1,126,115,350) 
Total increase (decrease) in net assets (5,187,055,293) (2,266,238,226) 
Net Assets   
Beginning of period 27,735,893,320 30,002,131,546 
End of period $22,548,838,027 $27,735,893,320 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Freedom 2020 Fund

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $15.83 $16.51 $15.70 $14.63 $15.76 
Income from Investment Operations      
Net investment income (loss)A .28 .28 .22 .25 .28 
Net realized and unrealized gain (loss) (.84) .10 1.34 1.40 (.60) 
Total from investment operations (.56) .38 1.56 1.65 (.32) 
Distributions from net investment income (.30) (.28) (.22) (.26) (.28) 
Distributions from net realized gain (.76) (.78) (.52) (.32) (.53) 
Total distributions (1.06) (1.06) (.75)B (.58) (.81) 
Net asset value, end of period $14.21 $15.83 $16.51 $15.70 $14.63 
Total ReturnC (4.15)% 2.66% 10.01% 11.57% (2.10)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions .60% .61% .52% - %F - %F 
Expenses net of fee waivers, if any .60% .61% .52% -% -% 
Expenses net of all reductions .60% .61% .52% -% -% 
Net investment income (loss) 1.76% 1.76% 1.34% 1.69% 1.83% 
Supplemental Data      
Net assets, end of period (000 omitted) $10,620,621 $12,395,049 $12,916,078 $12,279,240 $11,732,980 
Portfolio turnover rateE 23% 19% 21%G 19% 17% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.75 per share is comprised of distributions from net investment income of $.221 and distributions from net realized gain of $.524 per share.

 C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Amount represents less than .005%.

 G 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $15.81 $16.49 $16.24 
Income from Investment Operations    
Net investment income (loss)B .29 .29 .27 
Net realized and unrealized gain (loss) (.83) .10 .50 
Total from investment operations (.54) .39 .77 
Distributions from net investment income (.31) (.29) (.21) 
Distributions from net realized gain (.76) (.78) (.31) 
Total distributions (1.07) (1.07) (.52) 
Net asset value, end of period $14.20 $15.81 $16.49 
Total ReturnC,D (4.04)% 2.73% 4.73% 
Ratios to Average Net AssetsE,F    
Expenses before reductions .52% .53% .54%G 
Expenses net of fee waivers, if any .52% .53% .54%G 
Expenses net of all reductions .52% .53% .54%G 
Net investment income (loss) 1.84% 1.84% 2.34%G 
Supplemental Data    
Net assets, end of period (000 omitted) $9,840,293 $13,509,101 $16,611,072 
Portfolio turnover rateF 23% 19% 21%H 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 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 K6

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $15.78 $16.50 $16.00 
Income from Investment Operations    
Net investment income (loss)B .31 .30 .24 
Net realized and unrealized gain (loss) (.83) .10 .79 
Total from investment operations (.52) .40 1.03 
Distributions from net investment income (.34) (.34) (.22) 
Distributions from net realized gain (.76) (.78) (.31) 
Total distributions (1.10) (1.12) (.53) 
Net asset value, end of period $14.16 $15.78 $16.50 
Total ReturnC,D (3.96)% 2.80% 6.40% 
Ratios to Average Net AssetsE,F    
Expenses before reductions .43% .43% .44%G 
Expenses net of fee waivers, if any .43% .43% .44%G 
Expenses net of all reductions .43% .43% .44%G 
Net investment income (loss) 1.93% 1.94% 1.79%G 
Supplemental Data    
Net assets, end of period (000 omitted) $2,087,924 $1,831,743 $474,981 
Portfolio turnover rateF 23% 19% 21%H 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 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® 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, 2020

 % of fund's net assets 
Fidelity Series Investment Grade Bond Fund 23.7 
Fidelity Series Emerging Markets Opportunities Fund 7.9 
Fidelity Series Government Money Market Fund 0.4% 6.6 
Fidelity Series Inflation-Protected Bond Index Fund 6.5 
Fidelity Series International Growth Fund 5.6 
Fidelity Series Intrinsic Opportunities Fund 4.9 
Fidelity Series International Value Fund 4.8 
Fidelity Series Overseas Fund 4.7 
Fidelity Series Growth Company Fund 4.3 
Fidelity Series Large Cap Stock Fund 4.1 
 73.1 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 30.8% 
   International Equity Funds 26.4% 
   Bond Funds 34.7% 
   Short-Term Funds 7.9% 
   Net Other Assets (Liabilities) 0.2% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.0%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.55% 4/23/20 to 6/4/20 (a)   
(Cost $13,520,557) 13,540,000 13,537,789 
 Shares Value 
Domestic Equity Funds - 30.8%   
Fidelity Series All-Sector Equity Fund (b) 35,522,692 $278,497,907 
Fidelity Series Blue Chip Growth Fund (b) 39,005,161 503,166,574 
Fidelity Series Commodity Strategy Fund (b) 222,845,966 813,387,775 
Fidelity Series Growth Company Fund (b) 66,598,852 1,045,601,982 
Fidelity Series Intrinsic Opportunities Fund (b) 93,274,143 1,186,447,102 
Fidelity Series Large Cap Stock Fund (b) 83,937,899 1,006,415,403 
Fidelity Series Large Cap Value Index Fund (b) 28,742,288 276,213,383 
Fidelity Series Opportunistic Insights Fund (b) 36,995,813 566,775,854 
Fidelity Series Small Cap Discovery Fund (b) 14,976,887 112,176,883 
Fidelity Series Small Cap Opportunities Fund (b) 38,620,603 391,999,124 
Fidelity Series Stock Selector Large Cap Value Fund (b) 82,102,239 737,278,105 
Fidelity Series Value Discovery Fund (b) 55,332,602 549,452,739 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $7,381,082,416)  7,467,412,831 
International Equity Funds - 26.4%   
Fidelity Series Canada Fund (b) 36,856,021 305,536,416 
Fidelity Series Emerging Markets Fund (b) 27,947,612 197,869,090 
Fidelity Series Emerging Markets Opportunities Fund (b) 122,502,789 1,907,368,420 
Fidelity Series International Growth Fund (b) 94,355,470 1,366,267,212 
Fidelity Series International Small Cap Fund (b) 23,736,185 317,352,794 
Fidelity Series International Value Fund (b) 164,187,388 1,172,297,947 
Fidelity Series Overseas Fund (b) 131,682,866 1,139,056,795 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $6,755,799,080)  6,405,748,674 
Bond Funds - 34.7%   
Fidelity Series Emerging Markets Debt Fund (b) 18,877,112 152,149,526 
Fidelity Series Floating Rate High Income Fund (b) 3,637,994 29,249,471 
Fidelity Series High Income Fund (b) 21,212,830 174,793,716 
Fidelity Series Inflation-Protected Bond Index Fund (b) 155,256,304 1,564,983,539 
Fidelity Series International Credit Fund (b) 1,700,498 16,256,765 
Fidelity Series Investment Grade Bond Fund (b) 499,888,339 5,763,712,548 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 58,456,292 624,897,761 
Fidelity Series Real Estate Income Fund (b) 11,747,845 98,916,856 
TOTAL BOND FUNDS   
(Cost $8,241,143,398)  8,424,960,182 
Short-Term Funds - 7.9%   
Fidelity Cash Central Fund 0.29% (c) 34,340,984 34,351,286 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 1,608,157,933 1,608,157,933 
Fidelity Series Short-Term Credit Fund (b) 28,546,431 282,038,735 
TOTAL SHORT-TERM FUNDS   
(Cost $1,927,617,844)  1,924,547,954 
TOTAL INVESTMENT IN SECURITIES - 99.8%   
(Cost $24,319,163,295)  24,236,207,430 
NET OTHER ASSETS (LIABILITIES) - 0.2%  37,096,482 
NET ASSETS - 100%  $24,273,303,912 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $13,537,789.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $704,341 
Total $704,341 

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 $391,721,273 $60,923,626 $115,410,665 $45,543,700 $(10,226,284) $(48,510,043) $278,497,907 
Fidelity Series Blue Chip Growth Fund 762,997,010 96,638,595 290,672,713 74,122,628 42,892,229 (108,688,547) 503,166,574 
Fidelity Series Canada Fund 178,381,825 224,811,299 18,053,559 4,765,631 425,113 (80,028,262) 305,536,416 
Fidelity Series Commodity Strategy Fund 632,744,139 528,904,666 103,255,914 14,947,097 (17,392,668) (227,612,448) 813,387,775 
Fidelity Series Emerging Markets Debt Fund 180,112,714 18,946,218 18,201,173 10,274,491 (835,012) (27,873,221) 152,149,526 
Fidelity Series Emerging Markets Fund 200,574,206 92,045,792 20,778,024 5,928,544 (1,297,659) (72,675,225) 197,869,090 
Fidelity Series Emerging Markets Opportunities Fund 1,873,296,174 587,937,195 179,587,553 58,507,954 (8,158,546) (366,118,850) 1,907,368,420 
Fidelity Series Floating Rate High Income Fund 34,457,552 3,358,965 3,995,554 1,968,138 (164,125) (4,407,367) 29,249,471 
Fidelity Series Government Money Market Fund 0.4% 1,250,842,921 1,042,170,622 684,855,610 24,699,549 -- -- 1,608,157,933 
Fidelity Series Growth Company Fund 1,486,349,840 174,858,130 556,224,521 131,914,978 123,248,688 (182,630,155) 1,045,601,982 
Fidelity Series High Income Fund 245,154,766 19,544,296 64,995,565 12,970,355 (2,174,380) (22,735,401) 174,793,716 
Fidelity Series Inflation-Protected Bond Index Fund 1,133,196,586 688,394,041 294,288,163 23,920,788 2,772,606 34,908,469 1,564,983,539 
Fidelity Series International Credit Fund 15,832,442 1,008,073 -- 1,008,072 -- (583,750) 16,256,765 
Fidelity Series International Growth Fund 1,714,984,815 124,855,104 433,257,714 69,401,990 58,225,993 (98,540,986) 1,366,267,212 
Fidelity Series International Small Cap Fund 403,488,467 44,089,836 79,937,315 17,433,427 1,500,781 (51,788,975) 317,352,794 
Fidelity Series International Value Fund 1,632,751,682 281,558,886 383,951,600 73,179,162 (27,059,033) (331,001,988) 1,172,297,947 
Fidelity Series Intrinsic Opportunities Fund 1,784,050,814 232,330,568 481,697,523 83,702,188 (23,445,142) (324,791,615) 1,186,447,102 
Fidelity Series Investment Grade Bond Fund 5,407,899,151 1,447,351,059 1,266,817,875 182,851,760 9,504,122 165,776,091 5,763,712,548 
Fidelity Series Large Cap Stock Fund 1,574,414,204 156,537,592 508,785,316 100,200,379 4,313,938 (220,065,015) 1,006,415,403 
Fidelity Series Large Cap Value Index Fund 456,005,541 40,956,240 142,428,780 25,593,054 8,883,393 (87,203,011) 276,213,383 
Fidelity Series Long-Term Treasury Bond Index Fund 1,528,090,035 215,662,439 1,333,392,919 78,233,034 134,265,119 80,273,087 624,897,761 
Fidelity Series Opportunistic Insights Fund 803,162,629 96,395,670 261,039,557 72,669,465 50,333,916 (122,076,804) 566,775,854 
Fidelity Series Overseas Fund -- 1,319,901,587 -- 2,983,780 -- (180,844,792) 1,139,056,795 
Fidelity Series Real Estate Income Fund 128,653,194 12,560,516 12,543,906 8,202,389 (494,861) (29,258,087) 98,916,856 
Fidelity Series Short-Term Credit Fund 314,070,382 86,893,141 116,672,655 8,208,146 319,846 (2,571,979) 282,038,735 
Fidelity Series Small Cap Discovery Fund 214,273,735 18,728,672 65,899,560 12,495,979 3,252,772 (58,178,736) 112,176,883 
Fidelity Series Small Cap Opportunities Fund 636,751,550 58,628,334 174,354,566 39,649,945 (2,582,335) (126,443,859) 391,999,124 
Fidelity Series Stock Selector Large Cap Value Fund 1,210,086,884 109,174,258 359,544,150 68,763,029 (559,586) (221,879,301) 737,278,105 
Fidelity Series Value Discovery Fund 859,540,695 80,805,319 253,592,444 36,236,703 24,011,978 (161,312,809) 549,452,739 
 $27,053,885,226 $7,865,970,739 $8,224,234,894 $1,290,376,355 $369,560,863 $(2,876,863,579) $24,188,318,355 

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, 2020, 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 $13,537,789 $-- $13,537,789 $-- 
Domestic Equity Funds 7,467,412,831 7,467,412,831 -- -- 
International Equity Funds 6,405,748,674 6,405,748,674 -- -- 
Bond Funds 8,424,960,182 8,424,960,182 -- -- 
Short-Term Funds 1,924,547,954 1,924,547,954 -- -- 
Total Investments in Securities: $24,236,207,430 $24,222,669,641 $13,537,789 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $13,520,557) 
$13,537,789  
Fidelity Central Funds (cost $34,348,689) 34,351,286  
Other affiliated issuers (cost $24,271,294,049) 24,188,318,355  
Total Investment in Securities (cost $24,319,163,295)  $24,236,207,430 
Segregated cash with brokers for derivative instruments  33,180,706 
Receivable for investments sold  39,087,000 
Receivable for fund shares sold  30,548,747 
Distributions receivable from Fidelity Central Funds  31,218 
Receivable for daily variation margin on futures contracts  4,442,254 
Total assets  24,343,497,355 
Liabilities   
Payable for investments purchased $4,454  
Payable for fund shares redeemed 58,076,483  
Accrued management fee 12,112,506  
Total liabilities  70,193,443 
Net Assets  $24,273,303,912 
Net Assets consist of:   
Paid in capital  $23,790,910,309 
Total accumulated earnings (loss)  482,393,603 
Net Assets  $24,273,303,912 
Net Asset Value and Maximum Offering Price   
Fidelity Freedom 2025 Fund:   
Net Asset Value, offering price and redemption price per share ($9,905,174,562 ÷ 802,661,846 shares)  $12.34 
Class K:   
Net Asset Value, offering price and redemption price per share ($11,470,983,586 ÷ 930,923,585 shares)  $12.32 
Class K6:   
Net Asset Value, offering price and redemption price per share ($2,897,145,764 ÷ 235,455,076 shares)  $12.30 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $650,165,327 
Interest  216,527 
Income from Fidelity Central Funds  704,341 
Total income  651,086,195 
Expenses   
Management fee $160,249,259  
Independent trustees' fees and expenses 106,007  
Total expenses before reductions 160,355,266  
Expense reductions (2)  
Total expenses after reductions  160,355,264 
Net investment income (loss)  490,730,931 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 36,261  
Fidelity Central Funds 312  
Other affiliated issuers 369,560,863  
Futures contracts 69,189,697  
Capital gain distributions from underlying funds:   
Affiliated issuers 640,211,028  
Total net realized gain (loss)  1,078,998,161 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 16,874  
Fidelity Central Funds 1,267  
Other affiliated issuers (2,876,863,579)  
Futures contracts 2,672,971  
Total change in net unrealized appreciation (depreciation)  (2,874,172,467) 
Net gain (loss)  (1,795,174,306) 
Net increase (decrease) in net assets resulting from operations  $(1,304,443,375) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $490,730,931 $472,781,005 
Net realized gain (loss) 1,078,998,161 1,239,430,815 
Change in net unrealized appreciation (depreciation) (2,874,172,467) (1,032,742,303) 
Net increase (decrease) in net assets resulting from operations (1,304,443,375) 679,469,517 
Distributions to shareholders (1,719,438,532) (1,583,201,037) 
Share transactions - net increase (decrease) 156,027,250 752,961,440 
Total increase (decrease) in net assets (2,867,854,657) (150,770,080) 
Net Assets   
Beginning of period 27,141,158,569 27,291,928,649 
End of period $24,273,303,912 $27,141,158,569 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Freedom 2025 Fund

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $13.84 $14.35 $13.50 $12.49 $13.51 
Income from Investment Operations      
Net investment income (loss)A .24 .24 .18 .21 .22 
Net realized and unrealized gain (loss) (.87) .08 1.26 1.30 (.54) 
Total from investment operations (.63) .32 1.44 1.51 (.32) 
Distributions from net investment income (.25) (.23) (.18) (.21) (.23) 
Distributions from net realized gain (.63) (.59) (.41) (.29) (.47) 
Total distributions (.87)B (.83)C (.59) (.50) (.70) 
Net asset value, end of period $12.34 $13.84 $14.35 $13.50 $12.49 
Total ReturnD (5.17)% 2.53% 10.81% 12.46% (2.50)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .64% .65% .56%G - %H - %H 
Expenses net of fee waivers, if any .64% .65% .56%G -% -% 
Expenses net of all reductions .64% .65% .56%G -% -% 
Net investment income (loss) 1.72% 1.70% 1.28% 1.66% 1.75% 
Supplemental Data      
Net assets, end of period (000 omitted) $9,905,175 $10,953,002 $10,923,217 $9,764,547 $8,717,568 
Portfolio turnover rateF 29% 19% 18%I 19% 17% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.87 per share is comprised of distributions from net investment income of $.246 and distributions from net realized gain of $.626 per share.

 C Total distributions of $.83 per share is comprised of distributions from net investment income of $.234 and distributions from net realized gain of $.591 per share.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $13.82 $14.33 $14.02 
Income from Investment Operations    
Net investment income (loss)B .25 .25 .23 
Net realized and unrealized gain (loss) (.87) .08 .50 
Total from investment operations (.62) .33 .73 
Distributions from net investment income (.26) (.24) (.18) 
Distributions from net realized gain (.63) (.59) (.24) 
Total distributions (.88)C (.84)D (.42) 
Net asset value, end of period $12.32 $13.82 $14.33 
Total ReturnE,F (5.11)% 2.61% 5.18% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .56% .57% .58%I,J 
Expenses net of fee waivers, if any .56% .57% .58%I,J 
Expenses net of all reductions .56% .57% .58%I,J 
Net investment income (loss) 1.81% 1.79% 2.28%I 
Supplemental Data    
Net assets, end of period (000 omitted) $11,470,984 $13,768,298 $15,743,238 
Portfolio turnover rateH 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 of $.88 per share is comprised of distributions from net investment income of $.256 and distributions from net realized gain of $.626 per share.

 D Total distributions of $.84 per share is comprised of distributions from net investment income of $.244 and distributions from net realized gain of $.591 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $13.81 $14.35 $13.80 
Income from Investment Operations    
Net investment income (loss)B .27 .26 .21 
Net realized and unrealized gain (loss) (.87) .08 .76 
Total from investment operations (.60) .34 .97 
Distributions from net investment income (.28) (.29) (.19) 
Distributions from net realized gain (.63) (.59) (.24) 
Total distributions (.91) (.88) (.42)C 
Net asset value, end of period $12.30 $13.81 $14.35 
Total ReturnD,E (5.02)% 2.73% 7.02% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .45% .45% .46%H,I 
Expenses net of fee waivers, if any .45% .45% .46%H,I 
Expenses net of all reductions .45% .45% .46%H,I 
Net investment income (loss) 1.92% 1.90% 1.78%H 
Supplemental Data    
Net assets, end of period (000 omitted) $2,897,146 $2,419,859 $625,475 
Portfolio turnover rateG 29% 19% 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 distributions of $.42 per share is comprised of distributions from net investment income of $.186 and distributions from net realized gain of $.235 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 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 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, 2020

 % of fund's net assets 
Fidelity Series Investment Grade Bond Fund 20.0 
Fidelity Series Emerging Markets Opportunities Fund 8.7 
Fidelity Series International Growth Fund 6.5 
Fidelity Series Intrinsic Opportunities Fund 5.8 
Fidelity Series International Value Fund 5.6 
Fidelity Series Overseas Fund 5.4 
Fidelity Series Inflation-Protected Bond Index Fund 5.3 
Fidelity Series Growth Company Fund 5.2 
Fidelity Series Large Cap Stock Fund 5.0 
Fidelity Series Stock Selector Large Cap Value Fund 3.7 
 71.2 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 36.6% 
   International Equity Funds 30.0% 
   Bond Funds 29.7% 
   Short-Term Funds 3.5% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.55% 5/21/20 to 6/4/20 (a)   
(Cost $15,847,473) 15,870,000 15,867,153 
 Shares Value 
Domestic Equity Funds - 36.6%   
Fidelity Series All-Sector Equity Fund (b) 50,250,994 $393,967,790 
Fidelity Series Blue Chip Growth Fund (b) 55,570,163 716,855,106 
Fidelity Series Commodity Strategy Fund (b) 265,051,155 967,436,715 
Fidelity Series Growth Company Fund (b) 94,811,683 1,488,543,420 
Fidelity Series Intrinsic Opportunities Fund (b) 130,832,864 1,664,194,036 
Fidelity Series Large Cap Stock Fund (b) 120,095,745 1,439,947,985 
Fidelity Series Large Cap Value Index Fund (b) 41,133,607 395,293,959 
Fidelity Series Opportunistic Insights Fund (b) 52,888,393 810,250,181 
Fidelity Series Small Cap Discovery Fund (b) 21,453,216 160,684,589 
Fidelity Series Small Cap Opportunities Fund (b) 55,285,712 561,149,981 
Fidelity Series Stock Selector Large Cap Value Fund (b) 117,511,278 1,055,251,278 
Fidelity Series Value Discovery Fund (b) 79,165,284 786,111,272 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $10,291,808,362)  10,439,686,312 
International Equity Funds - 30.0%   
Fidelity Series Canada Fund (b) 49,578,547 411,006,158 
Fidelity Series Emerging Markets Fund (b) 37,021,953 262,115,431 
Fidelity Series Emerging Markets Opportunities Fund (b) 159,939,708 2,490,261,251 
Fidelity Series International Growth Fund (b) 126,950,269 1,838,239,891 
Fidelity Series International Small Cap Fund (b) 31,964,086 427,359,835 
Fidelity Series International Value Fund (b) 223,151,348 1,593,300,623 
Fidelity Series Overseas Fund (b) 178,146,628 1,540,968,330 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $9,103,285,668)  8,563,251,519 
Bond Funds - 29.7%   
Fidelity Series Emerging Markets Debt Fund (b) 22,192,017 178,867,660 
Fidelity Series Floating Rate High Income Fund (b) 4,284,009 34,443,433 
Fidelity Series High Income Fund (b) 25,406,820 209,352,196 
Fidelity Series Inflation-Protected Bond Index Fund (b) 148,564,154 1,497,526,674 
Fidelity Series International Credit Fund (b) 1,665,006 15,917,457 
Fidelity Series Investment Grade Bond Fund (b) 495,443,218 5,712,460,309 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 67,134,426 717,667,010 
Fidelity Series Real Estate Income Fund (b) 13,721,755 115,537,176 
TOTAL BOND FUNDS   
(Cost $8,293,324,438)  8,481,771,915 
Short-Term Funds - 3.5%   
Fidelity Cash Central Fund 0.29% (c) 56,620,398 56,637,384 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 880,988,473 880,988,473 
Fidelity Series Short-Term Credit Fund (b) 5,392,059 53,273,544 
TOTAL SHORT-TERM FUNDS   
(Cost $990,862,305)  990,899,401 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $28,695,128,246)  28,491,476,300 
NET OTHER ASSETS (LIABILITIES) - 0.1%  42,609,136 
NET ASSETS - 100%  $28,534,085,436 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $15,867,153.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $1,173,358 
Total $1,173,358 

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 $568,895,313 $83,121,274 $175,490,139 $64,715,905 $(14,263,535) $(68,295,123) $393,967,790 
Fidelity Series Blue Chip Growth Fund 1,120,692,859 137,909,899 449,125,677 105,852,488 70,804,678 (163,426,653) 716,855,106 
Fidelity Series Canada Fund 246,541,489 293,437,182 25,402,178 6,536,302 489,896 (104,060,231) 411,006,158 
Fidelity Series Commodity Strategy Fund 739,272,528 643,416,322 122,384,819 17,712,365 (20,373,377) (272,493,939) 967,436,715 
Fidelity Series Emerging Markets Debt Fund 207,468,099 24,191,974 19,574,744 11,857,801 (848,416) (32,369,253) 178,867,660 
Fidelity Series Emerging Markets Fund 269,124,514 115,523,928 25,004,900 7,878,356 (1,002,287) (96,525,824) 262,115,431 
Fidelity Series Emerging Markets Opportunities Fund 2,512,377,212 684,129,537 213,814,057 77,748,755 (5,074,908) (487,356,533) 2,490,261,251 
Fidelity Series Floating Rate High Income Fund 40,096,639 4,051,493 4,376,880 2,294,836 (141,121) (5,186,698) 34,443,433 
Fidelity Series Government Money Market Fund 0.4% 422,775,907 1,173,020,394 714,807,828 7,502,961 -- -- 880,988,473 
Fidelity Series Growth Company Fund 2,110,792,706 251,568,953 791,303,749 186,457,617 185,931,465 (268,445,955) 1,488,543,420 
Fidelity Series High Income Fund 281,389,335 23,839,349 66,291,044 15,396,149 (1,307,811) (28,277,633) 209,352,196 
Fidelity Series Inflation-Protected Bond Index Fund 441,372,517 1,218,448,416 180,407,934 19,895,747 482,968 17,630,707 1,497,526,674 
Fidelity Series International Credit Fund 15,501,991 987,032 -- 987,032 -- (571,566) 15,917,457 
Fidelity Series International Growth Fund 2,336,954,122 173,601,103 618,967,868 94,898,240 92,124,158 (145,471,624) 1,838,239,891 
Fidelity Series International Small Cap Fund 547,732,479 44,093,405 94,485,159 23,933,411 557,540 (70,538,430) 427,359,835 
Fidelity Series International Value Fund 2,268,195,348 351,208,406 533,958,164 100,617,922 (45,017,597) (447,127,370) 1,593,300,623 
Fidelity Series Intrinsic Opportunities Fund 2,534,376,344 292,165,187 667,578,950 119,564,276 (31,867,052) (462,901,493) 1,664,194,036 
Fidelity Series Investment Grade Bond Fund 4,929,657,050 1,842,677,130 1,221,143,761 175,921,888 11,293,857 149,976,033 5,712,460,309 
Fidelity Series Large Cap Stock Fund 2,247,464,693 218,140,716 718,791,128 143,007,607 7,013,880 (313,880,176) 1,439,947,985 
Fidelity Series Large Cap Value Index Fund 636,942,117 56,943,247 187,681,855 36,387,578 16,198,392 (127,107,942) 395,293,959 
Fidelity Series Long-Term Treasury Bond Index Fund 1,846,175,629 257,134,958 1,646,601,153 93,465,252 170,713,355 90,244,221 717,667,010 
Fidelity Series Opportunistic Insights Fund 1,141,745,148 138,507,369 367,968,043 103,237,008 73,556,567 (175,590,860) 810,250,181 
Fidelity Series Overseas Fund -- 1,786,481,808 -- 4,346,054 -- (245,513,478) 1,540,968,330 
Fidelity Series Real Estate Income Fund 148,832,289 15,013,480 13,764,806 9,509,131 (376,666) (34,167,121) 115,537,176 
Fidelity Series Short-Term Credit Fund 105,745,071 45,044,673 97,747,958 2,272,594 716,066 (484,308) 53,273,544 
Fidelity Series Small Cap Discovery Fund 308,039,361 27,065,316 96,703,703 17,858,606 5,809,037 (83,525,422) 160,684,589 
Fidelity Series Small Cap Opportunities Fund 939,358,907 84,671,969 279,172,161 56,591,039 (3,191,641) (180,517,093) 561,149,981 
Fidelity Series Stock Selector Large Cap Value Fund 1,715,319,843 150,866,326 495,407,110 97,538,055 (38,584) (315,489,197) 1,055,251,278 
Fidelity Series Value Discovery Fund 1,218,720,153 111,897,090 349,150,340 51,374,593 34,883,893 (230,239,524) 786,111,272 
 $31,901,559,663 $10,249,157,936 $10,177,106,108 $1,655,359,568 $547,072,757 $(4,101,712,485) $28,418,971,763 

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, 2020, 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 $15,867,153 $-- $15,867,153 $-- 
Domestic Equity Funds 10,439,686,312 10,439,686,312 -- -- 
International Equity Funds 8,563,251,519 8,563,251,519 -- -- 
Bond Funds 8,481,771,915 8,481,771,915 -- -- 
Short-Term Funds 990,899,401 990,899,401 -- -- 
Total Investments in Securities: $28,491,476,300 $28,475,609,147 $15,867,153 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $15,847,473) 
$15,867,153  
Fidelity Central Funds (cost $56,634,092) 56,637,384  
Other affiliated issuers (cost $28,622,646,681) 28,418,971,763  
Total Investment in Securities (cost $28,695,128,246)  $28,491,476,300 
Segregated cash with brokers for derivative instruments  38,122,272 
Receivable for investments sold  37,438,838 
Receivable for fund shares sold  28,199,633 
Distributions receivable from Fidelity Central Funds  42,056 
Receivable for daily variation margin on futures contracts  5,133,410 
Other receivables  206,130 
Total assets  28,600,618,639 
Liabilities   
Payable for investments purchased $5,179  
Payable for fund shares redeemed 51,203,225  
Accrued management fee 15,118,665  
Other payables and accrued expenses 206,134  
Total liabilities  66,533,203 
Net Assets  $28,534,085,436 
Net Assets consist of:   
Paid in capital  $27,936,841,917 
Total accumulated earnings (loss)  597,243,519 
Net Assets  $28,534,085,436 
Net Asset Value and Maximum Offering Price   
Fidelity Freedom 2030 Fund:   
Net Asset Value, offering price and redemption price per share ($11,724,020,821 ÷ 782,401,984 shares)  $14.98 
Class K:   
Net Asset Value, offering price and redemption price per share ($13,601,568,095 ÷ 908,606,393 shares)  $14.97 
Class K6:   
Net Asset Value, offering price and redemption price per share ($3,208,496,520 ÷ 214,700,718 shares)  $14.94 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $770,385,124 
Interest  311,910 
Income from Fidelity Central Funds  1,173,358 
Total income  771,870,392 
Expenses   
Management fee $202,203,719  
Independent trustees' fees and expenses 125,731  
Total expenses  202,329,450 
Net investment income (loss)  569,540,942 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 54,734  
Fidelity Central Funds 111  
Other affiliated issuers 547,072,757  
Futures contracts 88,198,279  
Capital gain distributions from underlying funds:   
Affiliated issuers 884,974,444  
Total net realized gain (loss)  1,520,300,325 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 18,566  
Fidelity Central Funds 2,187  
Other affiliated issuers (4,101,712,485)  
Futures contracts 3,695,307  
Total change in net unrealized appreciation (depreciation)  (4,097,996,425) 
Net gain (loss)  (2,577,696,100) 
Net increase (decrease) in net assets resulting from operations  $(2,008,155,158) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $569,540,942 $528,081,542 
Net realized gain (loss) 1,520,300,325 1,730,364,661 
Change in net unrealized appreciation (depreciation) (4,097,996,425) (1,511,568,639) 
Net increase (decrease) in net assets resulting from operations (2,008,155,158) 746,877,564 
Distributions to shareholders (2,275,634,739) (2,065,119,501) 
Share transactions - net increase (decrease) 747,107,607 1,467,380,800 
Total increase (decrease) in net assets (3,536,682,290) 149,138,863 
Net Assets   
Beginning of period 32,070,767,726 31,921,628,863 
End of period $28,534,085,436 $32,070,767,726 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Freedom 2030 Fund

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $17.20 $18.00 $16.72 $15.20 $16.62 
Income from Investment Operations      
Net investment income (loss)A .29 .28 .21 .25 .25 
Net realized and unrealized gain (loss) (1.30) .07 1.90 1.90 (.75) 
Total from investment operations (1.01) .35 2.11 2.15 (.50) 
Distributions from net investment income (.30) (.28) (.22) (.25) (.26) 
Distributions from net realized gain (.92) (.87) (.61) (.38) (.67) 
Total distributions (1.21)B (1.15) (.83) (.63) (.92)C 
Net asset value, end of period $14.98 $17.20 $18.00 $16.72 $15.20 
Total ReturnD (6.69)% 2.32% 12.78% 14.58% (3.17)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .69% .69%G .59% - %H - %H 
Expenses net of fee waivers, if any .69% .69%G .59% -% -% 
Expenses net of all reductions .69% .69%G .59% -% -% 
Net investment income (loss) 1.68% 1.61% 1.20% 1.57% 1.59% 
Supplemental Data      
Net assets, end of period (000 omitted) $11,724,021 $12,905,055 $12,684,794 $11,305,668 $10,150,137 
Portfolio turnover rateF 31% 18% 18%I 17% 16% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $1.21 per share is comprised of distributions from net investment income of $.295 and distributions from net realized gain of $.916 per share.

 C Total distributions of $.92 per share is comprised of distributions from net investment income of $.257 and distributions from net realized gain of $.665 per share.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $17.18 $17.98 $17.47 
Income from Investment Operations    
Net investment income (loss)B .30 .30 .28 
Net realized and unrealized gain (loss) (1.29) .06 .81 
Total from investment operations (.99) .36 1.09 
Distributions from net investment income (.31) (.29) (.24) 
Distributions from net realized gain (.92) (.87) (.35) 
Total distributions (1.22)C (1.16) (.58)D 
Net asset value, end of period $14.97 $17.18 $17.98 
Total ReturnE,F (6.57)% 2.40% 6.24% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .59% .60% .62%I,J 
Expenses net of fee waivers, if any .59% .60% .62%I,J 
Expenses net of all reductions .59% .60% .62%I,J 
Net investment income (loss) 1.77% 1.70% 2.23%I 
Supplemental Data    
Net assets, end of period (000 omitted) $13,601,568 $16,527,856 $18,414,961 
Portfolio turnover rateH 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 of $1.22 per share is comprised of distributions from net investment income of $.308 and distributions from net realized gain of $.916 per share.

 D Total distributions of $.58 per share is comprised of distributions from net investment income of $.237 and distributions from net realized gain of $.345 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $17.17 $18.00 $17.15 
Income from Investment Operations    
Net investment income (loss)B .33 .31 .26 
Net realized and unrealized gain (loss) (1.30) .08 1.18 
Total from investment operations (.97) .39 1.44 
Distributions from net investment income (.34) (.33) (.24) 
Distributions from net realized gain (.92) (.89) (.35) 
Total distributions (1.26) (1.22) (.59) 
Net asset value, end of period $14.94 $17.17 $18.00 
Total ReturnC,D (6.52)% 2.57% 8.35% 
Ratios to Average Net AssetsE,F    
Expenses before reductions .47% .47% .48%G,H 
Expenses net of fee waivers, if any .47% .47% .48%G,H 
Expenses net of all reductions .47% .47% .48%G,H 
Net investment income (loss) 1.90% 1.83% 1.76%G 
Supplemental Data    
Net assets, end of period (000 omitted) $3,208,497 $2,637,856 $821,874 
Portfolio turnover rateF 31% 18% 18%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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 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 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, 2020

 % of fund's net assets 
Fidelity Series Emerging Markets Opportunities Fund 10.2 
Fidelity Series Investment Grade Bond Fund 8.2 
Fidelity Series International Growth Fund 7.7 
Fidelity Series Intrinsic Opportunities Fund 7.4 
Fidelity Series International Value Fund 6.8 
Fidelity Series Growth Company Fund 6.7 
Fidelity Series Large Cap Stock Fund 6.5 
Fidelity Series Overseas Fund 6.3 
Fidelity Series Stock Selector Large Cap Value Fund 4.8 
Fidelity Series Opportunistic Insights Fund 3.7 
 68.3 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 45.9% 
   International Equity Funds 35.7% 
   Bond Funds 14.7% 
   Short-Term Funds 3.5% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $21,390,612) 21,420,000 21,416,084 
 Shares Value 
Domestic Equity Funds - 45.9%   
Fidelity Series All-Sector Equity Fund (b) 44,598,055 $349,648,749 
Fidelity Series Blue Chip Growth Fund (b) 49,132,404 633,808,007 
Fidelity Series Commodity Strategy Fund (b) 176,657,284 644,799,085 
Fidelity Series Growth Company Fund (b) 84,127,708 1,320,805,016 
Fidelity Series Intrinsic Opportunities Fund (b) 113,830,464 1,447,923,507 
Fidelity Series Large Cap Stock Fund (b) 106,460,991 1,276,467,283 
Fidelity Series Large Cap Value Index Fund (b) 36,495,725 350,723,921 
Fidelity Series Opportunistic Insights Fund (b) 46,854,899 717,817,047 
Fidelity Series Small Cap Discovery Fund (b) 19,039,159 142,603,303 
Fidelity Series Small Cap Opportunities Fund (b) 49,071,312 498,073,814 
Fidelity Series Stock Selector Large Cap Value Fund (b) 104,294,096 936,560,982 
Fidelity Series Value Discovery Fund (b) 70,191,973 697,006,295 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $9,074,726,179)  9,016,237,009 
International Equity Funds - 35.7%   
Fidelity Series Canada Fund (b) 41,751,812 346,122,519 
Fidelity Series Emerging Markets Fund (b) 30,061,261 212,833,728 
Fidelity Series Emerging Markets Opportunities Fund (b) 128,494,793 2,000,663,934 
Fidelity Series International Growth Fund (b) 104,857,596 1,518,337,992 
Fidelity Series International Small Cap Fund (b) 26,998,743 360,973,191 
Fidelity Series International Value Fund (b) 188,270,028 1,344,248,001 
Fidelity Series Overseas Fund (b) 142,917,129 1,236,233,166 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $7,603,643,138)  7,019,412,531 
Bond Funds - 14.7%   
Fidelity Series Emerging Markets Debt Fund (b) 15,290,665 123,242,762 
Fidelity Series Floating Rate High Income Fund (b) 3,034,775 24,399,593 
Fidelity Series High Income Fund (b) 18,057,429 148,793,218 
Fidelity Series Inflation-Protected Bond Index Fund (b) 40,521,691 408,458,648 
Fidelity Series International Credit Fund (b) 1,108,800 10,600,125 
Fidelity Series Investment Grade Bond Fund (b) 140,070,426 1,615,012,011 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 43,768,028 467,880,223 
Fidelity Series Real Estate Income Fund (b) 9,552,304 80,430,397 
TOTAL BOND FUNDS   
(Cost $2,832,655,763)  2,878,816,977 
Short-Term Funds - 3.5%   
Fidelity Cash Central Fund 0.29% (c) 66,711,220 66,731,234 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 578,212,175 578,212,175 
Fidelity Series Short-Term Credit Fund (b) 3,916,961 38,699,571 
TOTAL SHORT-TERM FUNDS   
(Cost $683,683,524)  683,642,980 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $20,216,099,216)  19,619,525,581 
NET OTHER ASSETS (LIABILITIES) - 0.1%  15,581,689 
NET ASSETS - 100%  $19,635,107,270 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $21,416,084.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $676,810 
Total $676,810 

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 $485,736,145 $79,546,143 $141,828,779 $56,650,174 $(14,464,078) $(59,340,682) $349,648,749 
Fidelity Series Blue Chip Growth Fund 922,243,872 127,869,642 336,006,931 89,446,244 37,161,036 (117,459,612) 633,808,007 
Fidelity Series Canada Fund 200,641,560 255,250,817 18,778,966 5,353,403 266,247 (91,257,139) 346,122,519 
Fidelity Series Commodity Strategy Fund 508,842,899 479,178,691 139,112,116 12,349,045 (40,314,489) (163,795,900) 644,799,085 
Fidelity Series Emerging Markets Debt Fund 140,335,409 22,313,520 15,120,108 8,185,682 (1,655,803) (22,630,256) 123,242,762 
Fidelity Series Emerging Markets Fund 208,782,053 96,954,799 13,955,060 6,359,607 (643,993) (78,304,071) 212,833,728 
Fidelity Series Emerging Markets Opportunities Fund 1,948,882,881 582,755,192 127,900,118 62,758,543 (7,959,185) (395,114,836) 2,000,663,934 
Fidelity Series Floating Rate High Income Fund 27,521,732 3,346,514 2,722,928 1,588,772 (54,972) (3,690,753) 24,399,593 
Fidelity Series Government Money Market Fund 0.4% 291,474,846 751,925,802 465,188,473 5,160,752 -- -- 578,212,175 
Fidelity Series Growth Company Fund 1,769,244,706 239,912,650 608,741,833 163,080,541 105,302,401 (184,912,908) 1,320,805,016 
Fidelity Series High Income Fund 187,845,665 19,216,063 37,322,689 10,732,840 (1,102,668) (19,843,153) 148,793,218 
Fidelity Series Inflation-Protected Bond Index Fund 64,395,273 434,613,310 93,541,283 6,020,818 397,358 2,593,990 408,458,648 
Fidelity Series International Credit Fund 10,323,448 657,307 -- 657,307 -- (380,630) 10,600,125 
Fidelity Series International Growth Fund 1,926,163,794 171,204,689 535,272,573 78,509,177 60,392,364 (104,150,282) 1,518,337,992 
Fidelity Series International Small Cap Fund 449,065,197 44,023,678 71,779,055 19,883,906 (4,246,301) (56,090,328) 360,973,191 
Fidelity Series International Value Fund 1,844,057,802 313,416,110 398,768,832 83,692,259 (30,536,936) (383,920,143) 1,344,248,001 
Fidelity Series Intrinsic Opportunities Fund 2,140,495,992 268,402,777 528,100,397 101,899,231 (37,985,021) (394,889,844) 1,447,923,507 
Fidelity Series Investment Grade Bond Fund 595,460,824 1,202,729,038 202,043,571 37,789,961 724,612 18,141,108 1,615,012,011 
Fidelity Series Large Cap Stock Fund 1,888,940,826 209,098,126 547,874,394 122,153,616 (3,736,805) (269,960,470) 1,276,467,283 
Fidelity Series Large Cap Value Index Fund 536,295,348 55,542,442 141,876,032 31,632,518 8,777,587 (108,015,424) 350,723,921 
Fidelity Series Long-Term Treasury Bond Index Fund 1,272,759,684 209,400,449 1,196,975,321 65,307,686 127,238,111 55,457,300 467,880,223 
Fidelity Series Opportunistic Insights Fund 960,212,537 132,224,051 282,201,510 90,019,993 26,458,305 (118,876,336) 717,817,047 
Fidelity Series Overseas Fund -- 1,444,762,697 -- 3,794,961 -- (208,529,531) 1,236,233,166 
Fidelity Series Real Estate Income Fund 100,983,265 11,991,928 8,558,062 6,484,402 (158,326) (23,828,408) 80,430,397 
Fidelity Series Short-Term Credit Fund 72,902,460 35,131,996 69,491,232 1,522,459 525,052 (368,705) 38,699,571 
Fidelity Series Small Cap Discovery Fund 250,035,864 26,706,105 64,413,427 15,272,789 (521,381) (69,203,858) 142,603,303 
Fidelity Series Small Cap Opportunities Fund 769,168,220 83,052,796 192,076,884 48,079,887 (5,649,277) (156,421,041) 498,073,814 
Fidelity Series Stock Selector Large Cap Value Fund 1,441,977,127 150,386,597 373,291,864 85,239,047 (7,734,115) (274,776,763) 936,560,982 
Fidelity Series Value Discovery Fund 1,021,224,899 109,693,684 259,033,132 44,881,901 2,802,912 (177,682,068) 697,006,295 
 $22,036,014,328 $7,561,307,613 $6,871,975,570 $1,264,507,521 $213,282,635 $(3,407,250,743) $19,531,378,263 

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, 2020, 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 $21,416,084 $-- $21,416,084 $-- 
Domestic Equity Funds 9,016,237,009 9,016,237,009 -- -- 
International Equity Funds 7,019,412,531 7,019,412,531 -- -- 
Bond Funds 2,878,816,977 2,878,816,977 -- -- 
Short-Term Funds 683,642,980 683,642,980 -- -- 
Total Investments in Securities: $19,619,525,581 $19,598,109,497 $21,416,084 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $21,390,612) 
$21,416,084  
Fidelity Central Funds (cost $66,728,820) 66,731,234  
Other affiliated issuers (cost $20,127,979,784) 19,531,378,263  
Total Investment in Securities (cost $20,216,099,216)  $19,619,525,581 
Segregated cash with brokers for derivative instruments  12,804,321 
Receivable for investments sold  12,452,851 
Receivable for fund shares sold  27,541,221 
Distributions receivable from Fidelity Central Funds  37,521 
Receivable for daily variation margin on futures contracts  3,242,915 
Total assets  19,675,604,410 
Liabilities   
Payable for investments purchased $5,542  
Payable for fund shares redeemed 29,577,775  
Accrued management fee 10,913,823  
Total liabilities  40,497,140 
Net Assets  $19,635,107,270 
Net Assets consist of:   
Paid in capital  $19,655,215,083 
Total accumulated earnings (loss)  (20,107,813) 
Net Assets  $19,635,107,270 
Net Asset Value and Maximum Offering Price   
Fidelity Freedom 2035 Fund:   
Net Asset Value, offering price and redemption price per share ($7,408,042,624 ÷ 606,930,766 shares)  $12.21 
Class K:   
Net Asset Value, offering price and redemption price per share ($9,620,447,566 ÷ 789,326,971 shares)  $12.19 
Class K6:   
Net Asset Value, offering price and redemption price per share ($2,606,617,080 ÷ 214,139,358 shares)  $12.17 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $521,336,437 
Interest  213,310 
Income from Fidelity Central Funds  676,810 
Total income  522,226,557 
Expenses   
Management fee $147,624,336  
Independent trustees' fees and expenses 87,348  
Total expenses before reductions 147,711,684  
Expense reductions (3)  
Total expenses after reductions  147,711,681 
Net investment income (loss)  374,514,876 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 103,831  
Fidelity Central Funds 619  
Other affiliated issuers 213,282,635  
Futures contracts 65,891,998  
Capital gain distributions from underlying funds:   
Affiliated issuers 743,171,084  
Total net realized gain (loss)  1,022,450,167 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 25,047  
Fidelity Central Funds 1,510  
Other affiliated issuers (3,407,250,743)  
Futures contracts 2,613,575  
Total change in net unrealized appreciation (depreciation)  (3,404,610,611) 
Net gain (loss)  (2,382,160,444) 
Net increase (decrease) in net assets resulting from operations  $(2,007,645,568) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $374,514,876 $321,409,355 
Net realized gain (loss) 1,022,450,167 1,362,873,563 
Change in net unrealized appreciation (depreciation) (3,404,610,611) (1,260,260,336) 
Net increase (decrease) in net assets resulting from operations (2,007,645,568) 424,022,582 
Distributions to shareholders (1,589,726,158) (1,465,758,420) 
Share transactions - net increase (decrease) 1,105,568,240 1,425,813,293 
Total increase (decrease) in net assets (2,491,803,486) 384,077,455 
Net Assets   
Beginning of period 22,126,910,756 21,742,833,301 
End of period $19,635,107,270 $22,126,910,756 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Freedom 2035 Fund

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $14.42 $15.20 $13.88 $12.46 $13.67 
Income from Investment Operations      
Net investment income (loss)A .23 .21 .16 .19 .19 
Net realized and unrealized gain (loss) (1.42) .01 1.81 1.75 (.65) 
Total from investment operations (1.19) .22 1.97 1.94 (.46) 
Distributions from net investment income (.23) (.22) (.17) (.18) (.20) 
Distributions from net realized gain (.79) (.78) (.47) (.34) (.55) 
Total distributions (1.02) (1.00) (.65)B (.52) (.75) 
Net asset value, end of period $12.21 $14.42 $15.20 $13.88 $12.46 
Total ReturnC (9.25)% 1.85% 14.32% 16.09% (3.59)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions .73% .74% .63%F - %G - %G 
Expenses net of fee waivers, if any .73% .74% .63%F -% -% 
Expenses net of all reductions .73% .74% .63%F -% -% 
Net investment income (loss) 1.57% 1.41% 1.06% 1.45% 1.48% 
Supplemental Data      
Net assets, end of period (000 omitted) $7,408,043 $8,247,886 $8,050,659 $6,889,828 $5,961,088 
Portfolio turnover rateE 31% 18% 17%H 16% 15% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.65 per share is comprised of distributions from net investment income of $.171 and distributions from net realized gain of $.474 per share.

 C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $14.40 $15.18 $14.60 
Income from Investment Operations    
Net investment income (loss)B .24 .22 .22 
Net realized and unrealized gain (loss) (1.42) .01 .82 
Total from investment operations (1.18) .23 1.04 
Distributions from net investment income (.24) (.23) (.19) 
Distributions from net realized gain (.79) (.78) (.26) 
Total distributions (1.03) (1.01) (.46)C 
Net asset value, end of period $12.19 $14.40 $15.18 
Total ReturnD,E (9.19)% 1.95% 7.09% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .63% .64% .65%H,I 
Expenses net of fee waivers, if any .63% .64% .65%H,I 
Expenses net of all reductions .63% .64% .65%H,I 
Net investment income (loss) 1.67% 1.51% 2.07%H 
Supplemental Data    
Net assets, end of period (000 omitted) $9,620,448 $11,661,819 $12,979,898 
Portfolio turnover rateG 31% 18% 17%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 of $.46 per share is comprised of distributions from net investment income of $.193 and distributions from net realized gain of $.264 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $14.39 $15.20 $14.30 
Income from Investment Operations    
Net investment income (loss)B .26 .24 .20 
Net realized and unrealized gain (loss) (1.42) .01 1.16 
Total from investment operations (1.16) .25 1.36 
Distributions from net investment income (.26) (.27) (.20) 
Distributions from net realized gain (.80) (.79) (.26) 
Total distributions (1.06) (1.06) (.46) 
Net asset value, end of period $12.17 $14.39 $15.20 
Total ReturnC,D (9.08)% 2.10% 9.50% 
Ratios to Average Net AssetsE,F    
Expenses before reductions .49% .49% .50%G,H 
Expenses net of fee waivers, if any .49% .49% .50%G,H 
Expenses net of all reductions .49% .49% .50%G,H 
Net investment income (loss) 1.82% 1.65% 1.61%G 
Supplemental Data    
Net assets, end of period (000 omitted) $2,606,617 $2,217,206 $712,276 
Portfolio turnover rateF 31% 18% 17%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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 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 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, 2020

 % of fund's net assets 
Fidelity Series Emerging Markets Opportunities Fund 11.0 
Fidelity Series International Growth Fund 8.4 
Fidelity Series Intrinsic Opportunities Fund 8.2 
Fidelity Series International Value Fund 7.5 
Fidelity Series Growth Company Fund 7.4 
Fidelity Series Large Cap Stock Fund 7.3 
Fidelity Series Overseas Fund 6.9 
Fidelity Series Stock Selector Large Cap Value Fund 5.3 
Fidelity Series Opportunistic Insights Fund 4.1 
Fidelity Series Value Discovery Fund 4.0 
 70.1 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.7% 
   International Equity Funds 38.9% 
   Bond Funds 6.6% 
   Short-Term Funds 3.6% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $20,122,932) 20,150,000 20,146,313 
 Shares Value 
Domestic Equity Funds - 50.7%   
Fidelity Series All-Sector Equity Fund (b) 48,449,510 $379,844,160 
Fidelity Series Blue Chip Growth Fund (b) 53,823,301 694,320,587 
Fidelity Series Commodity Strategy Fund (b) 177,042,913 646,206,631 
Fidelity Series Growth Company Fund (b) 91,048,225 1,429,457,131 
Fidelity Series Intrinsic Opportunities Fund (b) 124,749,739 1,586,816,675 
Fidelity Series Large Cap Stock Fund (b) 117,387,654 1,407,477,972 
Fidelity Series Large Cap Value Index Fund (b) 40,196,324 386,286,675 
Fidelity Series Opportunistic Insights Fund (b) 51,338,828 786,510,852 
Fidelity Series Small Cap Discovery Fund (b) 21,014,188 157,396,268 
Fidelity Series Small Cap Opportunities Fund (b) 54,054,834 548,656,569 
Fidelity Series Stock Selector Large Cap Value Fund (b) 114,922,886 1,032,007,516 
Fidelity Series Value Discovery Fund (b) 77,375,343 768,337,156 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $9,856,726,907)  9,823,318,192 
International Equity Funds - 38.9%   
Fidelity Series Canada Fund (b) 45,709,482 378,931,606 
Fidelity Series Emerging Markets Fund (b) 31,999,862 226,559,024 
Fidelity Series Emerging Markets Opportunities Fund (b) 136,718,264 2,128,703,375 
Fidelity Series International Growth Fund (b) 111,941,784 1,620,917,039 
Fidelity Series International Small Cap Fund (b) 28,983,562 387,510,225 
Fidelity Series International Value Fund (b) 203,038,032 1,449,691,547 
Fidelity Series Overseas Fund (b) 155,303,059 1,343,371,459 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $8,166,878,915)  7,535,684,275 
Bond Funds - 6.6%   
Fidelity Series Emerging Markets Debt Fund (b) 15,082,077 121,561,538 
Fidelity Series Floating Rate High Income Fund (b) 3,023,784 24,311,225 
Fidelity Series High Income Fund (b) 18,048,734 148,721,571 
Fidelity Series Inflation-Protected Bond Index Fund (b) 40,996,164 413,241,334 
Fidelity Series International Credit Fund (b) 1,077,890 10,304,633 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 44,133,962 471,792,052 
Fidelity Series Real Estate Income Fund (b) 9,678,828 81,495,734 
TOTAL BOND FUNDS   
(Cost $1,252,230,521)  1,271,428,087 
Short-Term Funds - 3.6%   
Fidelity Cash Central Fund 0.29% (c) 70,407,722 70,428,845 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 579,793,482 579,793,482 
Fidelity Series Short-Term Credit Fund (b) 3,961,738 39,141,971 
TOTAL SHORT-TERM FUNDS   
(Cost $689,614,397)  689,364,298 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $19,985,573,672)  19,339,941,165 
NET OTHER ASSETS (LIABILITIES) - 0.1%  13,014,447 
NET ASSETS - 100%  $19,352,955,612 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Sold      
Equity Index Contracts      
CME E-mini S&P 500 Index Contracts (United States) 238 June 2020 $30,579,430 $1,342,019 $1,342,019 

The notional amount of futures sold as a percentage of Net Assets is 0.2%

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $20,146,313.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $509,679 
Total $509,679 

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 $558,080,270 $82,241,229 $178,473,075 $62,239,575 $(23,918,512) $(58,085,752) $379,844,160 
Fidelity Series Blue Chip Growth Fund 991,489,200 131,507,650 337,769,618 97,377,132 29,296,578 (120,203,223) 694,320,587 
Fidelity Series Canada Fund 213,797,940 277,527,624 13,075,730 6,069,672 135,293 (99,453,521) 378,931,606 
Fidelity Series Commodity Strategy Fund 558,323,357 413,709,631 121,903,821 12,505,626 (41,290,280) (162,632,256) 646,206,631 
Fidelity Series Emerging Markets Debt Fund 142,580,650 21,639,904 18,273,029 8,258,311 (2,267,597) (22,118,390) 121,561,538 
Fidelity Series Emerging Markets Fund 219,264,240 105,820,130 15,377,641 6,804,836 (517,576) (82,630,129) 226,559,024 
Fidelity Series Emerging Markets Opportunities Fund 2,050,312,796 668,714,780 162,665,390 67,157,991 (10,318,106) (417,340,705) 2,128,703,375 
Fidelity Series Floating Rate High Income Fund 27,844,283 3,046,119 2,863,794 1,593,496 (62,979) (3,652,404) 24,311,225 
Fidelity Series Government Money Market Fund 0.4% 161,417,474 770,890,114 352,514,106 3,863,456 -- -- 579,793,482 
Fidelity Series Growth Company Fund 1,996,496,748 249,600,103 727,972,461 179,715,722 89,587,184 (178,254,443) 1,429,457,131 
Fidelity Series High Income Fund 238,590,013 17,885,654 86,784,752 10,976,010 (2,909,897) (18,059,447) 148,721,571 
Fidelity Series Inflation-Protected Bond Index Fund 65,297,368 438,505,232 92,556,933 6,030,472 248,980 1,746,687 413,241,334 
Fidelity Series International Credit Fund 10,035,669 638,984 -- 638,984 -- (370,020) 10,304,633 
Fidelity Series International Growth Fund 2,096,368,378 166,946,923 599,471,012 84,947,787 65,056,900 (107,984,150) 1,620,917,039 
Fidelity Series International Small Cap Fund 484,368,989 52,417,586 82,437,233 21,158,242 (8,621,521) (58,217,596) 387,510,225 
Fidelity Series International Value Fund 1,960,768,572 338,639,360 402,873,953 90,188,664 (33,020,676) (413,821,756) 1,449,691,547 
Fidelity Series Intrinsic Opportunities Fund 2,243,098,529 299,486,931 482,912,196 111,499,130 (32,457,037) (440,399,552) 1,586,816,675 
Fidelity Series Investment Grade Bond Fund 137,434,757 57,131,506 201,922,953 2,537,893 8,745,810 (1,389,120) -- 
Fidelity Series Large Cap Stock Fund 2,005,791,811 215,493,243 510,946,051 133,311,686 (1,790,060) (301,070,971) 1,407,477,972 
Fidelity Series Large Cap Value Index Fund 566,054,815 57,161,222 127,250,604 34,777,521 7,561,702 (117,240,460) 386,286,675 
Fidelity Series Long-Term Treasury Bond Index Fund 802,726,823 186,307,606 641,779,843 59,696,302 56,146,827 68,390,639 471,792,052 
Fidelity Series Opportunistic Insights Fund 1,032,896,974 136,926,099 279,367,207 99,041,996 20,370,199 (124,315,213) 786,510,852 
Fidelity Series Overseas Fund -- 1,570,427,106 -- 4,137,773 -- (227,055,647) 1,343,371,459 
Fidelity Series Real Estate Income Fund 103,544,954 11,165,608 9,009,372 6,613,990 (113,226) (24,092,230) 81,495,734 
Fidelity Series Short-Term Credit Fund 44,562,312 27,323,197 32,499,329 1,229,452 105,894 (350,103) 39,141,971 
Fidelity Series Small Cap Discovery Fund 260,466,275 30,460,216 57,728,378 16,447,375 737,588 (76,539,433) 157,396,268 
Fidelity Series Small Cap Opportunities Fund 818,974,463 84,487,023 176,917,692 52,505,149 (5,354,824) (172,532,401) 548,656,569 
Fidelity Series Stock Selector Large Cap Value Fund 1,535,896,694 152,180,161 343,242,353 93,917,398 (5,759,195) (307,067,791) 1,032,007,516 
Fidelity Series Value Discovery Fund 1,075,865,209 113,183,583 227,541,656 49,464,035 1,288,585 (194,458,565) 768,337,156 
 $22,402,349,563 $6,681,464,524 $6,286,130,182 $1,324,705,676 $110,880,054 $(3,659,197,952) $19,249,366,007 

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, 2020, 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 $20,146,313 $-- $20,146,313 $-- 
Domestic Equity Funds 9,823,318,192 9,823,318,192 -- -- 
International Equity Funds 7,535,684,275 7,535,684,275 -- -- 
Bond Funds 1,271,428,087 1,271,428,087 -- -- 
Short-Term Funds 689,364,298 689,364,298 -- -- 
Total Investments in Securities: $19,339,941,165 $19,319,794,852 $20,146,313 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $1,342,019 $1,342,019 $-- $-- 
Total Assets $1,342,019 $1,342,019 $-- $-- 
Total Derivative Instruments: $1,342,019 $1,342,019 $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2020. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type Value 
 Asset Liability 
Equity Risk   
Futures Contracts(a) $1,342,019 $0 
Total Equity Risk 1,342,019 
Total Value of Derivatives $1,342,019 $0 

 (a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $20,122,932) 
$20,146,313  
Fidelity Central Funds (cost $70,426,000) 70,428,845  
Other affiliated issuers (cost $19,895,024,740) 19,249,366,007  
Total Investment in Securities (cost $19,985,573,672)  $19,339,941,165 
Segregated cash with brokers for derivative instruments  10,365,495 
Receivable for investments sold  10,676,806 
Receivable for fund shares sold  24,084,556 
Distributions receivable from Fidelity Central Funds  38,291 
Receivable for daily variation margin on futures contracts  3,113,270 
Total assets  19,388,219,583 
Liabilities   
Payable for investments purchased $560,283  
Payable for fund shares redeemed 23,675,531  
Accrued management fee 11,028,157  
Total liabilities  35,263,971 
Net Assets  $19,352,955,612 
Net Assets consist of:   
Paid in capital  $19,417,554,852 
Total accumulated earnings (loss)  (64,599,240) 
Net Assets  $19,352,955,612 
Net Asset Value and Maximum Offering Price   
Fidelity Freedom 2040 Fund:   
Net Asset Value, offering price and redemption price per share ($7,378,482,347 ÷ 878,725,353 shares)  $8.40 
Class K:   
Net Asset Value, offering price and redemption price per share ($9,581,183,838 ÷ 1,141,689,297 shares)  $8.39 
Class K6:   
Net Asset Value, offering price and redemption price per share ($2,393,289,427 ÷ 285,972,027 shares)  $8.37 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $515,134,064 
Interest  241,236 
Income from Fidelity Central Funds  509,679 
Total income  515,884,979 
Expenses   
Management fee $152,112,260  
Independent trustees' fees and expenses 88,076  
Total expenses before reductions 152,200,336  
Expense reductions (15)  
Total expenses after reductions  152,200,321 
Net investment income (loss)  363,684,658 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 109,925  
Fidelity Central Funds 85  
Other affiliated issuers 110,880,054  
Futures contracts 67,949,024  
Capital gain distributions from underlying funds:   
Affiliated issuers 809,571,612  
Total net realized gain (loss)  988,510,700 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 23,369  
Fidelity Central Funds 2,428  
Other affiliated issuers (3,659,197,952)  
Futures contracts 1,623,878  
Total change in net unrealized appreciation (depreciation)  (3,657,548,277) 
Net gain (loss)  (2,669,037,577) 
Net increase (decrease) in net assets resulting from operations  $(2,305,352,919) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $363,684,658 $318,162,186 
Net realized gain (loss) 988,510,700 1,461,230,192 
Change in net unrealized appreciation (depreciation) (3,657,548,277) (1,375,577,416) 
Net increase (decrease) in net assets resulting from operations (2,305,352,919) 403,814,962 
Distributions to shareholders (1,587,988,996) (1,543,664,947) 
Share transactions - net increase (decrease) 811,338,784 1,202,056,606 
Total increase (decrease) in net assets (3,082,003,131) 62,206,621 
Net Assets   
Beginning of period 22,434,958,743 22,372,752,122 
End of period $19,352,955,612 $22,434,958,743 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Freedom 2040 Fund

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $10.09 $10.67 $9.74 $8.75 $9.63 
Income from Investment Operations      
Net investment income (loss)A .15 .14 .11 .13 .13 
Net realized and unrealized gain (loss) (1.13) B 1.29 1.24 (.46) 
Total from investment operations (.98) .14 1.40 1.37 (.33) 
Distributions from net investment income (.16) (.15) (.12) (.13) (.14) 
Distributions from net realized gain (.55) (.57) (.35) (.24) (.41) 
Total distributions (.71) (.72) (.47) (.38)C (.55) 
Net asset value, end of period $8.40 $10.09 $10.67 $9.74 $8.75 
Total ReturnD (10.80)% 1.79% 14.52% 16.14% (3.62)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .75% .75% .63%G - %H - %H 
Expenses net of fee waivers, if any .75% .75% .63%G -% -% 
Expenses net of all reductions .75% .75% .63%G -% -% 
Net investment income (loss) 1.52% 1.36% 1.04% 1.44% 1.47% 
Supplemental Data      
Net assets, end of period (000 omitted) $7,378,482 $8,404,848 $8,285,660 $7,264,459 $6,388,566 
Portfolio turnover rateF 28% 17% 16%I 15% 16% 

 A Calculated based on average shares outstanding during the period.

 B Amount represents less than $.005 per share.

 C Total distributions of $.38 per share is comprised of distributions from net investment income of $.132 and distributions from net realized gain of $.244 per share.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.08 $10.66 $10.25 
Income from Investment Operations    
Net investment income (loss)B .16 .15 .15 
Net realized and unrealized gain (loss) (1.13) C .59 
Total from investment operations (.97) .15 .74 
Distributions from net investment income (.17) (.16) (.14) 
Distributions from net realized gain (.55) (.57) (.19) 
Total distributions (.72) (.73) (.33) 
Net asset value, end of period $8.39 $10.08 $10.66 
Total ReturnD,E (10.76)% 1.87% 7.21% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .64% .64% .65%H,I 
Expenses net of fee waivers, if any .64% .64% .65%H,I 
Expenses net of all reductions .64% .64% .65%H,I 
Net investment income (loss) 1.62% 1.46% 2.06%H 
Supplemental Data    
Net assets, end of period (000 omitted) $9,581,184 $11,994,623 $13,434,642 
Portfolio turnover rateG 28% 17% 16%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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.06 $10.66 $10.03 
Income from Investment Operations    
Net investment income (loss)B .18 .16 .13 
Net realized and unrealized gain (loss) (1.13) .01 .83 
Total from investment operations (.95) .17 .96 
Distributions from net investment income (.18) (.19) (.14) 
Distributions from net realized gain (.56) (.58) (.19) 
Total distributions (.74) (.77) (.33) 
Net asset value, end of period $8.37 $10.06 $10.66 
Total ReturnC,D (10.58)% 2.06% 9.60% 
Ratios to Average Net AssetsE,F    
Expenses before reductions .49% .50%G .50%G,H 
Expenses net of fee waivers, if any .49% .50%G .50%G,H 
Expenses net of all reductions .49% .50%G .50%G,H 
Net investment income (loss) 1.77% 1.61% 1.55%H 
Supplemental Data    
Net assets, end of period (000 omitted) $2,393,289 $2,035,487 $652,451 
Portfolio turnover rateF 28% 17% 16%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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 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 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, 2020

 % of fund's net assets 
Fidelity Series Emerging Markets Opportunities Fund 11.0 
Fidelity Series International Growth Fund 8.4 
Fidelity Series Intrinsic Opportunities Fund 8.2 
Fidelity Series International Value Fund 7.5 
Fidelity Series Growth Company Fund 7.4 
Fidelity Series Large Cap Stock Fund 7.3 
Fidelity Series Overseas Fund 6.9 
Fidelity Series Stock Selector Large Cap Value Fund 5.3 
Fidelity Series Opportunistic Insights Fund 4.1 
Fidelity Series Value Discovery Fund 4.0 
 70.1 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.7% 
   International Equity Funds 38.9% 
   Bond Funds 6.6% 
   Short-Term Funds 3.6% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $12,892,677) 12,910,000 12,907,638 
 Shares Value 
Domestic Equity Funds - 50.7%   
Fidelity Series All-Sector Equity Fund (b) 31,038,997 $243,345,740 
Fidelity Series Blue Chip Growth Fund (b) 34,483,782 444,840,786 
Fidelity Series Commodity Strategy Fund (b) 113,504,376 414,290,973 
Fidelity Series Growth Company Fund (b) 58,331,961 915,811,783 
Fidelity Series Intrinsic Opportunities Fund (b) 79,940,649 1,016,845,055 
Fidelity Series Large Cap Stock Fund (b) 75,234,581 902,062,631 
Fidelity Series Large Cap Value Index Fund (b) 25,765,260 247,604,152 
Fidelity Series Opportunistic Insights Fund (b) 32,890,475 503,882,073 
Fidelity Series Small Cap Discovery Fund (b) 13,482,270 100,982,202 
Fidelity Series Small Cap Opportunities Fund (b) 34,653,777 351,735,840 
Fidelity Series Stock Selector Large Cap Value Fund (b) 73,666,102 661,521,596 
Fidelity Series Value Discovery Fund (b) 49,586,696 492,395,896 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $6,515,712,244)  6,295,318,727 
International Equity Funds - 38.9%   
Fidelity Series Canada Fund (b) 29,261,468 242,577,568 
Fidelity Series Emerging Markets Fund (b) 20,516,322 145,255,562 
Fidelity Series Emerging Markets Opportunities Fund (b) 87,648,117 1,364,681,176 
Fidelity Series International Growth Fund (b) 71,737,232 1,038,755,116 
Fidelity Series International Small Cap Fund (b) 18,578,855 248,399,296 
Fidelity Series International Value Fund (b) 130,149,460 929,267,144 
Fidelity Series Overseas Fund (b) 99,550,899 861,115,277 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $5,305,425,152)  4,830,051,139 
Bond Funds - 6.6%   
Fidelity Series Emerging Markets Debt Fund (b) 9,665,161 77,901,194 
Fidelity Series Floating Rate High Income Fund (b) 1,956,958 15,733,939 
Fidelity Series High Income Fund (b) 11,565,336 95,298,373 
Fidelity Series Inflation-Protected Bond Index Fund (b) 26,276,130 264,863,387 
Fidelity Series International Credit Fund (b) 641,317 6,130,987 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 28,286,304 302,380,590 
Fidelity Series Real Estate Income Fund (b) 6,124,277 51,566,409 
TOTAL BOND FUNDS   
(Cost $800,487,850)  813,874,879 
Short-Term Funds - 3.6%   
Fidelity Cash Central Fund 0.29% (c) 45,074,467 45,087,990 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 371,430,307 371,430,307 
Fidelity Series Short-Term Credit Fund (b) 2,579,654 25,486,982 
TOTAL SHORT-TERM FUNDS   
(Cost $442,162,259)  442,005,279 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $13,076,680,182)  12,394,157,662 
NET OTHER ASSETS (LIABILITIES) - 0.1%  8,210,896 
NET ASSETS - 100%  $12,402,368,558 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Sold      
Equity Index Contracts      
CME E-mini S&P 500 Index Contracts (United States) 157 June 2020 $20,172,145 $885,282 $885,282 

The notional amount of futures sold as a percentage of Net Assets is 0.2%

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $12,907,638.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $318,104 
Total $318,104 

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 $342,759,111 $63,273,967 $109,828,838 $39,333,244 $(16,925,438) $(35,933,062) $243,345,740 
Fidelity Series Blue Chip Growth Fund 609,617,828 100,903,486 207,960,913 60,672,307 10,442,099 (68,161,714) 444,840,786 
Fidelity Series Canada Fund 131,549,368 182,289,753 7,728,402 3,823,127 17,830 (63,550,981) 242,577,568 
Fidelity Series Commodity Strategy Fund 343,713,396 275,467,141 75,326,522 7,821,436 (19,318,355) (110,244,687) 414,290,973 
Fidelity Series Emerging Markets Debt Fund 86,506,877 18,276,275 11,323,807 5,110,224 (1,347,789) (14,210,362) 77,901,194 
Fidelity Series Emerging Markets Fund 134,858,698 71,932,734 8,723,145 4,275,140 (272,115) (52,540,610) 145,255,562 
Fidelity Series Emerging Markets Opportunities Fund 1,260,766,325 469,673,410 91,329,296 42,191,634 (4,815,813) (269,613,450) 1,364,681,176 
Fidelity Series Floating Rate High Income Fund 17,147,554 2,756,695 1,782,895 999,150 (38,402) (2,349,013) 15,733,939 
Fidelity Series Government Money Market Fund 0.4% 99,322,094 493,599,343 221,491,130 2,409,896 -- -- 371,430,307 
Fidelity Series Growth Company Fund 1,229,628,037 195,804,051 451,813,188 112,971,285 40,735,880 (98,542,997) 915,811,783 
Fidelity Series High Income Fund 146,721,391 15,131,280 53,198,333 6,834,418 (1,435,279) (11,920,686) 95,298,373 
Fidelity Series Inflation-Protected Bond Index Fund 40,175,190 279,454,419 55,982,380 3,811,183 174,700 1,041,458 264,863,387 
Fidelity Series International Credit Fund 5,970,961 380,178 -- 380,179 -- (220,152) 6,130,987 
Fidelity Series International Growth Fund 1,289,865,390 151,477,158 370,750,981 53,319,238 21,672,928 (53,509,379) 1,038,755,116 
Fidelity Series International Small Cap Fund 298,008,728 42,030,657 48,692,394 13,372,708 (4,443,831) (38,503,864) 248,399,296 
Fidelity Series International Value Fund 1,206,453,222 261,288,072 253,071,995 56,660,883 (18,364,465) (267,037,690) 929,267,144 
Fidelity Series Intrinsic Opportunities Fund 1,389,389,164 226,146,579 298,200,447 69,537,008 (19,496,515) (280,993,726) 1,016,845,055 
Fidelity Series Investment Grade Bond Fund 83,636,826 37,032,000 125,252,373 1,580,062 6,056,758 (1,473,211) -- 
Fidelity Series Large Cap Stock Fund 1,237,134,113 177,213,362 318,288,118 82,916,835 (2,166,676) (191,830,050) 902,062,631 
Fidelity Series Large Cap Value Index Fund 348,639,288 48,730,220 79,468,093 21,874,435 2,570,747 (72,868,010) 247,604,152 
Fidelity Series Long-Term Treasury Bond Index Fund 493,870,168 132,256,484 402,269,794 37,492,071 34,193,376 44,330,356 302,380,590 
Fidelity Series Opportunistic Insights Fund 636,667,857 107,983,510 173,513,036 62,346,389 6,140,784 (73,397,042) 503,882,073 
Fidelity Series Overseas Fund -- 1,006,256,868 -- 2,599,278 -- (145,141,591) 861,115,277 
Fidelity Series Real Estate Income Fund 62,889,620 9,577,878 5,605,553 4,070,949 (73,501) (15,222,035) 51,566,409 
Fidelity Series Short-Term Credit Fund 27,367,758 18,294,526 20,009,785 774,544 66,373 (231,890) 25,486,982 
Fidelity Series Small Cap Discovery Fund 160,041,128 24,681,096 35,309,680 10,283,396 (842,658) (47,587,684) 100,982,202 
Fidelity Series Small Cap Opportunities Fund 504,022,058 70,505,814 109,399,612 32,706,793 (3,786,876) (109,605,544) 351,735,840 
Fidelity Series Stock Selector Large Cap Value Fund 945,203,894 129,175,309 212,044,751 59,218,507 (3,961,507) (196,851,349) 661,521,596 
Fidelity Series Value Discovery Fund 662,160,913 95,409,973 141,232,099 31,163,397 (1,085,584) (122,857,307) 492,395,896 
 $13,794,086,957 $4,707,002,238 $3,889,597,560 $830,549,716 $23,696,671 $(2,299,026,272) $12,336,162,034 

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, 2020, 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 $12,907,638 $-- $12,907,638 $-- 
Domestic Equity Funds 6,295,318,727 6,295,318,727 -- -- 
International Equity Funds 4,830,051,139 4,830,051,139 -- -- 
Bond Funds 813,874,879 813,874,879 -- -- 
Short-Term Funds 442,005,279 442,005,279 -- -- 
Total Investments in Securities: $12,394,157,662 $12,381,250,024 $12,907,638 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $885,282 $885,282 $-- $-- 
Total Assets $885,282 $885,282 $-- $-- 
Total Derivative Instruments: $885,282 $885,282 $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2020. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type Value 
 Asset Liability 
Equity Risk   
Futures Contracts(a) $885,282 $0 
Total Equity Risk 885,282 
Total Value of Derivatives $885,282 $0 

 (a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $12,892,677) 
$12,907,638  
Fidelity Central Funds (cost $45,086,193) 45,087,990  
Other affiliated issuers (cost $13,018,701,312) 12,336,162,034  
Total Investment in Securities (cost $13,076,680,182)  $12,394,157,662 
Segregated cash with brokers for derivative instruments  6,516,379 
Receivable for investments sold  6,713,057 
Receivable for fund shares sold  22,716,341 
Distributions receivable from Fidelity Central Funds  24,380 
Receivable for daily variation margin on futures contracts  1,987,028 
Total assets  12,432,114,847 
Liabilities   
Payable for investments purchased $9,015,604  
Payable for fund shares redeemed 13,800,613  
Accrued management fee 6,930,072  
Total liabilities  29,746,289 
Net Assets  $12,402,368,558 
Net Assets consist of:   
Paid in capital  $12,751,468,771 
Total accumulated earnings (loss)  (349,100,213) 
Net Assets  $12,402,368,558 
Net Asset Value and Maximum Offering Price   
Fidelity Freedom 2045 Fund:   
Net Asset Value, offering price and redemption price per share ($3,945,874,193 ÷ 413,486,913 shares)  $9.54 
Class K:   
Net Asset Value, offering price and redemption price per share ($6,636,812,095 ÷ 696,315,573 shares)  $9.53 
Class K6:   
Net Asset Value, offering price and redemption price per share ($1,819,682,270 ÷ 191,358,109 shares)  $9.51 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $322,639,307 
Interest  141,076 
Income from Fidelity Central Funds  318,104 
Total income  323,098,487 
Expenses   
Management fee $93,739,234  
Independent trustees' fees and expenses 54,830  
Total expenses  93,794,064 
Net investment income (loss)  229,304,423 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 89,279  
Fidelity Central Funds 95  
Other affiliated issuers 23,696,671  
Futures contracts 41,770,740  
Capital gain distributions from underlying funds:   
Affiliated issuers 507,910,409  
Total net realized gain (loss)  573,467,194 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 14,954  
Fidelity Central Funds 1,478  
Other affiliated issuers (2,299,026,272)  
Futures contracts 993,783  
Total change in net unrealized appreciation (depreciation)  (2,298,016,057) 
Net gain (loss)  (1,724,548,863) 
Net increase (decrease) in net assets resulting from operations  $(1,495,244,440) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $229,304,423 $194,707,824 
Net realized gain (loss) 573,467,194 887,454,912 
Change in net unrealized appreciation (depreciation) (2,298,016,057) (831,779,207) 
Net increase (decrease) in net assets resulting from operations (1,495,244,440) 250,383,529 
Distributions to shareholders (967,465,826) (922,311,809) 
Share transactions - net increase (decrease) 1,051,585,785 1,180,095,049 
Total increase (decrease) in net assets (1,411,124,481) 508,166,769 
Net Assets   
Beginning of period 13,813,493,039 13,305,326,270 
End of period $12,402,368,558 $13,813,493,039 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Freedom 2045 Fund

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.44 $12.09 $11.00 $9.89 $10.84 
Income from Investment Operations      
Net investment income (loss)A .17 .16 .12 .15 .15 
Net realized and unrealized gain (loss) (1.29) (.01)B 1.46 1.39 (.52) 
Total from investment operations (1.12) .15 1.58 1.54 (.37) 
Distributions from net investment income (.18) (.17) (.13) (.15) (.16) 
Distributions from net realized gain (.61) (.63) (.35) (.28) (.43) 
Total distributions (.78)C (.80) (.49)D (.43) (.58)E 
Net asset value, end of period $9.54 $11.44 $12.09 $11.00 $9.89 
Total ReturnF (10.80)% 1.72% 14.48% 16.08% (3.59)% 
Ratios to Average Net AssetsG,H      
Expenses before reductions .75% .75% .63%I - %J - %J 
Expenses net of fee waivers, if any .75% .75% .63%I -% -% 
Expenses net of all reductions .75% .75% .63%I -% -% 
Net investment income (loss) 1.52% 1.37% 1.04% 1.45% 1.48% 
Supplemental Data      
Net assets, end of period (000 omitted) $3,945,874 $4,345,914 $4,144,152 $3,496,184 $2,912,972 
Portfolio turnover rateH 28% 18% 17%K 15% 17% 

 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 of $.78 per share is comprised of distributions from net investment income of $.178 and distributions from net realized gain of $.606 per share.

 D Total distributions of $.49 per share is comprised of distributions from net investment income of $.134 and distributions from net realized gain of $.352 per share.

 E Total distributions of $.58 per share is comprised of distributions from net investment income of $.155 and distributions from net realized gain of $.427 per share.

 F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 J Amount represents less than .005%.

 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 K

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $11.43 $12.08 $11.59 
Income from Investment Operations    
Net investment income (loss)B .18 .17 .17 
Net realized and unrealized gain (loss) (1.29) (.01)C .67 
Total from investment operations (1.11) .16 .84 
Distributions from net investment income (.19) (.18) (.15) 
Distributions from net realized gain (.61) (.63) (.19) 
Total distributions (.79)D (.81) (.35)E 
Net asset value, end of period $9.53 $11.43 $12.08 
Total ReturnF,G (10.74)% 1.83% 7.21% 
Ratios to Average Net AssetsH,I    
Expenses before reductions .64% .64% .65%J,K 
Expenses net of fee waivers, if any .64% .64% .65%J,K 
Expenses net of all reductions .64% .64% .65%J,K 
Net investment income (loss) 1.62% 1.47% 2.05%J 
Supplemental Data    
Net assets, end of period (000 omitted) $6,636,812 $7,982,073 $8,748,416 
Portfolio turnover rateI 28% 18% 17%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 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 distributions of $.79 per share is comprised of distributions from net investment income of $.186 and distributions from net realized gain of $.607 per share.

 E Total distributions of $.35 per share is comprised of distributions from net investment income of $.153 and distributions from net realized gain of $.194 per share.

 F Total returns for periods of less than one year are not annualized.

 G Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 I Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $11.41 $12.09 $11.34 
Income from Investment Operations    
Net investment income (loss)B .20 .18 .14 
Net realized and unrealized gain (loss) (1.28) (.01)C .96 
Total from investment operations (1.08) .17 1.10 
Distributions from net investment income (.20) (.21) (.16) 
Distributions from net realized gain (.61) (.64) (.19) 
Total distributions (.82)D (.85) (.35) 
Net asset value, end of period $9.51 $11.41 $12.09 
Total ReturnE,F (10.57)% 1.95% 9.70% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .49% .50%I .50%I,J 
Expenses net of fee waivers, if any .49% .50%I .50%I,J 
Expenses net of all reductions .49% .50%I .50%I,J 
Net investment income (loss) 1.77% 1.62% 1.45%J 
Supplemental Data    
Net assets, end of period (000 omitted) $1,819,682 $1,485,505 $412,758 
Portfolio turnover rateH 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 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 distributions of $.82 per share is comprised of distributions from net investment income of $.204 and distributions from net realized gain of $.614 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 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 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, 2020

 % of fund's net assets 
Fidelity Series Emerging Markets Opportunities Fund 11.0 
Fidelity Series International Growth Fund 8.4 
Fidelity Series Intrinsic Opportunities Fund 8.2 
Fidelity Series International Value Fund 7.5 
Fidelity Series Growth Company Fund 7.4 
Fidelity Series Large Cap Stock Fund 7.3 
Fidelity Series Overseas Fund 6.9 
Fidelity Series Stock Selector Large Cap Value Fund 5.3 
Fidelity Series Opportunistic Insights Fund 4.1 
Fidelity Series Value Discovery Fund 4.0 
 70.1 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.7% 
   International Equity Funds 38.9% 
   Bond Funds 6.6% 
   Short-Term Funds 3.6% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $11,194,957) 11,210,000 11,207,949 
 Shares Value 
Domestic Equity Funds - 50.7%   
Fidelity Series All-Sector Equity Fund (b) 27,054,012 $212,103,452 
Fidelity Series Blue Chip Growth Fund (b) 30,059,541 387,768,085 
Fidelity Series Commodity Strategy Fund (b) 98,965,423 361,223,795 
Fidelity Series Growth Company Fund (b) 50,846,598 798,291,591 
Fidelity Series Intrinsic Opportunities Fund (b) 69,689,219 886,446,859 
Fidelity Series Large Cap Stock Fund (b) 65,589,308 786,415,802 
Fidelity Series Large Cap Value Index Fund (b) 22,463,632 215,875,500 
Fidelity Series Opportunistic Insights Fund (b) 28,670,599 439,233,571 
Fidelity Series Small Cap Discovery Fund (b) 11,756,188 88,053,848 
Fidelity Series Small Cap Opportunities Fund (b) 30,220,378 306,736,837 
Fidelity Series Stock Selector Large Cap Value Fund (b) 64,231,533 576,799,170 
Fidelity Series Value Discovery Fund (b) 43,228,450 429,258,511 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $5,732,250,366)  5,488,207,021 
International Equity Funds - 38.9%   
Fidelity Series Canada Fund (b) 25,478,523 211,216,958 
Fidelity Series Emerging Markets Fund (b) 17,889,686 126,658,976 
Fidelity Series Emerging Markets Opportunities Fund (b) 76,418,513 1,189,836,247 
Fidelity Series International Growth Fund (b) 62,544,474 905,643,982 
Fidelity Series International Small Cap Fund (b) 16,200,122 216,595,635 
Fidelity Series International Value Fund (b) 113,477,396 810,228,607 
Fidelity Series Overseas Fund (b) 86,798,934 750,810,782 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $4,638,901,230)  4,210,991,187 
Bond Funds - 6.6%   
Fidelity Series Emerging Markets Debt Fund (b) 8,425,904 67,912,785 
Fidelity Series Floating Rate High Income Fund (b) 1,711,686 13,761,959 
Fidelity Series High Income Fund (b) 10,082,319 83,078,313 
Fidelity Series Inflation-Protected Bond Index Fund (b) 22,907,662 230,909,234 
Fidelity Series International Credit Fund (b) 542,201 5,183,439 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 24,660,008 263,615,483 
Fidelity Series Real Estate Income Fund (b) 5,343,132 44,989,175 
TOTAL BOND FUNDS   
(Cost $697,652,705)  709,450,388 
Short-Term Funds - 3.6%   
Fidelity Cash Central Fund 0.29% (c) 39,167,590 39,179,340 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 323,644,870 323,644,870 
Fidelity Series Short-Term Credit Fund (b) 2,269,630 22,423,945 
TOTAL SHORT-TERM FUNDS   
(Cost $385,382,830)  385,248,155 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $11,465,382,088)  10,805,104,700 
NET OTHER ASSETS (LIABILITIES) - 0.1%  7,141,043 
NET ASSETS - 100%  $10,812,245,743 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Sold      
Equity Index Contracts      
CME E-mini S&P 500 Index Contracts (United States) 138 June 2020 $17,730,930 $778,146 $778,146 

The notional amount of futures sold as a percentage of Net Assets is 0.2%

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $11,207,949.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $272,917 
Total $272,917 

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 $293,843,071 $58,075,766 $93,698,220 $34,238,524 $(14,554,509) $(31,562,656) $212,103,452 
Fidelity Series Blue Chip Growth Fund 523,099,724 92,899,647 178,027,054 52,691,436 9,409,382 (59,613,614) 387,768,085 
Fidelity Series Canada Fund 112,771,368 160,314,801 6,666,109 3,328,216 1,144 (55,204,246) 211,216,958 
Fidelity Series Commodity Strategy Fund 294,705,502 243,737,304 64,789,917 6,794,069 (15,157,947) (97,271,147) 361,223,795 
Fidelity Series Emerging Markets Debt Fund 73,982,269 16,893,221 9,453,047 4,421,974 (955,167) (12,554,491) 67,912,785 
Fidelity Series Emerging Markets Fund 115,587,225 64,074,914 7,183,989 3,725,916 (189,865) (45,629,309) 126,658,976 
Fidelity Series Emerging Markets Opportunities Fund 1,080,449,482 423,171,729 75,589,245 36,772,264 (2,810,512) (235,385,207) 1,189,836,247 
Fidelity Series Floating Rate High Income Fund 14,706,825 2,625,439 1,491,241 867,714 (22,334) (2,056,730) 13,761,959 
Fidelity Series Government Money Market Fund 0.4% 85,102,014 430,658,575 192,115,719 2,087,131 -- -- 323,644,870 
Fidelity Series Growth Company Fund 1,054,638,147 180,934,599 386,583,455 98,468,185 31,572,984 (82,270,684) 798,291,591 
Fidelity Series High Income Fund 125,628,953 14,277,450 45,229,749 5,921,201 (1,294,030) (10,304,311) 83,078,313 
Fidelity Series Inflation-Protected Bond Index Fund 34,435,748 243,788,487 48,373,353 3,303,398 151,191 907,161 230,909,234 
Fidelity Series International Credit Fund 5,048,144 321,423 -- 321,422 -- (186,128) 5,183,439 
Fidelity Series International Growth Fund 1,105,776,441 144,568,477 316,434,339 46,458,233 15,196,230 (43,462,827) 905,643,982 
Fidelity Series International Small Cap Fund 255,452,528 39,573,769 41,011,820 11,687,511 (3,941,238) (33,477,604) 216,595,635 
Fidelity Series International Value Fund 1,034,233,769 239,791,063 215,992,012 49,402,107 (14,908,024) (232,896,189) 810,228,607 
Fidelity Series Intrinsic Opportunities Fund 1,195,816,331 208,824,554 257,585,054 60,410,666 (16,102,410) (244,506,562) 886,446,859 
Fidelity Series Investment Grade Bond Fund 71,212,556 33,426,676 108,613,760 1,367,777 4,746,666 (772,138) -- 
Fidelity Series Large Cap Stock Fund 1,059,859,617 165,810,544 270,754,213 71,898,541 (1,318,803) (167,181,343) 786,415,802 
Fidelity Series Large Cap Value Index Fund 298,797,673 45,869,223 67,611,614 19,060,085 1,684,257 (62,864,039) 215,875,500 
Fidelity Series Long-Term Treasury Bond Index Fund 423,345,503 119,109,192 346,903,555 32,562,748 29,484,281 38,580,062 263,615,483 
Fidelity Series Opportunistic Insights Fund 546,327,032 100,035,240 148,270,636 54,289,262 4,324,767 (63,182,832) 439,233,571 
Fidelity Series Overseas Fund -- 876,801,947 -- 2,265,401 -- (125,991,165) 750,810,782 
Fidelity Series Real Estate Income Fund 53,957,596 9,045,086 4,691,017 3,537,614 (55,468) (13,267,022) 44,989,175 
Fidelity Series Short-Term Credit Fund 23,391,782 16,286,887 17,109,755 671,651 57,262 (202,231) 22,423,945 
Fidelity Series Small Cap Discovery Fund 137,433,557 23,017,258 30,327,770 8,960,780 (815,182) (41,254,015) 88,053,848 
Fidelity Series Small Cap Opportunities Fund 432,416,223 66,138,587 93,317,615 28,400,250 (2,655,035) (95,845,323) 306,736,837 
Fidelity Series Stock Selector Large Cap Value Fund 810,324,088 121,740,661 180,506,408 51,559,621 (1,730,736) (173,028,435) 576,799,170 
Fidelity Series Value Discovery Fund 567,694,681 89,735,806 120,414,335 27,133,736 (258,907) (107,498,734) 429,258,511 
 $11,830,037,849 $4,231,548,325 $3,328,745,001 $722,607,433 $19,857,997 $(1,997,981,759) $10,754,717,411 

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.

Investment Valuation

The following is a summary of the inputs used, as of March 31, 2020, 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 $11,207,949 $-- $11,207,949 $-- 
Domestic Equity Funds 5,488,207,021 5,488,207,021 -- -- 
International Equity Funds 4,210,991,187 4,210,991,187 -- -- 
Bond Funds 709,450,388 709,450,388 -- -- 
Short-Term Funds 385,248,155 385,248,155 -- -- 
Total Investments in Securities: $10,805,104,700 $10,793,896,751 $11,207,949 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $778,146 $778,146 $-- $-- 
Total Assets $778,146 $778,146 $-- $-- 
Total Derivative Instruments: $778,146 $778,146 $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2020. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type Value 
 Asset Liability 
Equity Risk   
Futures Contracts(a) $778,146 $0 
Total Equity Risk 778,146 
Total Value of Derivatives $778,146 $0 

 (a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $11,194,957) 
$11,207,949  
Fidelity Central Funds (cost $39,177,781) 39,179,340  
Other affiliated issuers (cost $11,415,009,350) 10,754,717,411  
Total Investment in Securities (cost $11,465,382,088)  $10,805,104,700 
Segregated cash with brokers for derivative instruments  5,667,210 
Receivable for investments sold  5,783,329 
Receivable for fund shares sold  21,560,426 
Distributions receivable from Fidelity Central Funds  21,179 
Receivable for daily variation margin on futures contracts  1,727,381 
Total assets  10,839,864,225 
Liabilities   
Payable for investments purchased $10,705,338  
Payable for fund shares redeemed 10,879,337  
Accrued management fee 6,033,807  
Total liabilities  27,618,482 
Net Assets  $10,812,245,743 
Net Assets consist of:   
Paid in capital  $11,188,574,459 
Total accumulated earnings (loss)  (376,328,716) 
Net Assets  $10,812,245,743 
Net Asset Value and Maximum Offering Price   
Fidelity Freedom 2050 Fund:   
Net Asset Value, offering price and redemption price per share ($3,373,189,644 ÷ 351,003,695 shares)  $9.61 
Class K:   
Net Asset Value, offering price and redemption price per share ($5,952,708,327 ÷ 620,298,263 shares)  $9.60 
Class K6:   
Net Asset Value, offering price and redemption price per share ($1,486,347,772 ÷ 155,068,412 shares)  $9.59 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $280,718,776 
Interest  121,855 
Income from Fidelity Central Funds  272,917 
Total income  281,113,548 
Expenses   
Management fee $81,309,258  
Independent trustees' fees and expenses 47,431  
Total expenses  81,356,689 
Net investment income (loss)  199,756,859 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 33,466  
Fidelity Central Funds 92  
Other affiliated issuers 19,857,997  
Futures contracts 36,070,463  
Capital gain distributions from underlying funds:   
Affiliated issuers 441,888,657  
Total net realized gain (loss)  497,850,675 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 12,987  
Fidelity Central Funds 1,273  
Other affiliated issuers (1,997,981,759)  
Futures contracts 845,262  
Total change in net unrealized appreciation (depreciation)  (1,997,122,237) 
Net gain (loss)  (1,499,271,562) 
Net increase (decrease) in net assets resulting from operations  $(1,299,514,703) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $199,756,859 $166,099,822 
Net realized gain (loss) 497,850,675 744,254,777 
Change in net unrealized appreciation (depreciation) (1,997,122,237) (693,755,744) 
Net increase (decrease) in net assets resulting from operations (1,299,514,703) 216,598,855 
Distributions to shareholders (831,785,387) (772,525,632) 
Share transactions - net increase (decrease) 1,096,985,996 1,146,558,939 
Total increase (decrease) in net assets (1,034,314,094) 590,632,162 
Net Assets   
Beginning of period 11,846,559,837 11,255,927,675 
End of period $10,812,245,743 $11,846,559,837 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Freedom 2050 Fund

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.52 $12.16 $11.05 $9.93 $10.90 
Income from Investment Operations      
Net investment income (loss)A .18 .16 .12 .15 .15 
Net realized and unrealized gain (loss) (1.30) B 1.48 1.40 (.52) 
Total from investment operations (1.12) .16 1.60 1.55 (.37) 
Distributions from net investment income (.18) (.17) (.14) (.15) (.16) 
Distributions from net realized gain (.60) (.63) (.35) (.28) (.44) 
Total distributions (.79)C (.80) (.49) (.43) (.60) 
Net asset value, end of period $9.61 $11.52 $12.16 $11.05 $9.93 
Total ReturnD (10.80)% 1.73% 14.59% 16.11% (3.65)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .75% .75% .63%G - %H - %H 
Expenses net of fee waivers, if any .75% .75% .63%G -% -% 
Expenses net of all reductions .75% .75% .63%G -% -% 
Net investment income (loss) 1.53% 1.37% 1.04% 1.45% 1.49% 
Supplemental Data      
Net assets, end of period (000 omitted) $3,373,190 $3,679,538 $3,452,997 $2,884,830 $2,363,381 
Portfolio turnover rateF 27% 18% 16%I 15% 17% 

 A Calculated based on average shares outstanding during the period.

 B Amount represents less than $.005 per share.

 C Total distributions of $.79 per share is comprised of distributions from net investment income of $.181 and distributions from net realized gain of $.604 per share.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $11.50 $12.14 $11.65 
Income from Investment Operations    
Net investment income (loss)B .19 .17 .17 
Net realized and unrealized gain (loss) (1.29) C .67 
Total from investment operations (1.10) .17 .84 
Distributions from net investment income (.19) (.18) (.15) 
Distributions from net realized gain (.61) (.63) (.19) 
Total distributions (.80) (.81) (.35)D 
Net asset value, end of period $9.60 $11.50 $12.14 
Total ReturnE,F (10.66)% 1.82% 7.18% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .64% .64% .65%I,J 
Expenses net of fee waivers, if any .64% .64% .65%I,J 
Expenses net of all reductions .64% .64% .65%I,J 
Net investment income (loss) 1.63% 1.48% 2.04%I 
Supplemental Data    
Net assets, end of period (000 omitted) $5,952,708 $6,982,416 $7,475,339 
Portfolio turnover rateH 27% 18% 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 distributions of $.35 per share is comprised of distributions from net investment income of $.154 and distributions from net realized gain of $.194 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $11.49 $12.15 $11.40 
Income from Investment Operations    
Net investment income (loss)B .20 .19 .14 
Net realized and unrealized gain (loss) (1.28) (.01)C .96 
Total from investment operations (1.08) .18 1.10 
Distributions from net investment income (.21) (.21) (.16) 
Distributions from net realized gain (.61) (.63) (.19) 
Total distributions (.82) (.84) (.35) 
Net asset value, end of period $9.59 $11.49 $12.15 
Total ReturnD,E (10.49)% 1.96% 9.65% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .49% .50%H .50%H,I 
Expenses net of fee waivers, if any .49% .50%H .50%H,I 
Expenses net of all reductions .49% .50%H .50%H,I 
Net investment income (loss) 1.78% 1.62% 1.42%I 
Supplemental Data    
Net assets, end of period (000 omitted) $1,486,348 $1,184,606 $327,591 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 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 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, 2020

 % of fund's net assets 
Fidelity Series Emerging Markets Opportunities Fund 11.0 
Fidelity Series International Growth Fund 8.4 
Fidelity Series Intrinsic Opportunities Fund 8.2 
Fidelity Series International Value Fund 7.5 
Fidelity Series Growth Company Fund 7.4 
Fidelity Series Large Cap Stock Fund 7.3 
Fidelity Series Overseas Fund 6.9 
Fidelity Series Stock Selector Large Cap Value Fund 5.3 
Fidelity Series Opportunistic Insights Fund 4.1 
Fidelity Series Value Discovery Fund 4.0 
 70.1 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.7% 
   International Equity Funds 38.9% 
   Bond Funds 6.6% 
   Short-Term Funds 3.6% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $5,372,793) 5,380,000 5,379,016 
 Shares Value 
Domestic Equity Funds - 50.7%   
Fidelity Series All-Sector Equity Fund (b) 13,078,925 $102,538,772 
Fidelity Series Blue Chip Growth Fund (b) 14,535,444 187,507,223 
Fidelity Series Commodity Strategy Fund (b) 47,897,104 174,824,429 
Fidelity Series Growth Company Fund (b) 24,585,680 385,995,184 
Fidelity Series Intrinsic Opportunities Fund (b) 33,708,480 428,771,865 
Fidelity Series Large Cap Stock Fund (b) 31,731,877 380,465,209 
Fidelity Series Large Cap Value Index Fund (b) 10,873,828 104,497,485 
Fidelity Series Opportunistic Insights Fund (b) 13,863,026 212,381,565 
Fidelity Series Small Cap Discovery Fund (b) 5,696,030 42,663,266 
Fidelity Series Small Cap Opportunities Fund (b) 14,626,106 148,454,980 
Fidelity Series Stock Selector Large Cap Value Fund (b) 31,086,705 279,158,612 
Fidelity Series Value Discovery Fund (b) 20,911,865 207,654,815 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $3,038,338,090)  2,654,913,405 
International Equity Funds - 38.9%   
Fidelity Series Canada Fund (b) 12,336,891 102,272,824 
Fidelity Series Emerging Markets Fund (b) 8,660,026 61,312,985 
Fidelity Series Emerging Markets Opportunities Fund (b) 36,982,577 575,818,721 
Fidelity Series International Growth Fund (b) 30,249,779 438,016,794 
Fidelity Series International Small Cap Fund (b) 7,839,566 104,814,991 
Fidelity Series International Value Fund (b) 54,902,150 392,001,352 
Fidelity Series Overseas Fund (b) 41,992,968 363,239,177 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $2,351,412,511)  2,037,476,844 
Bond Funds - 6.6%   
Fidelity Series Emerging Markets Debt Fund (b) 4,075,904 32,851,788 
Fidelity Series Floating Rate High Income Fund (b) 849,582 6,830,635 
Fidelity Series High Income Fund (b) 4,876,868 40,185,395 
Fidelity Series Inflation-Protected Bond Index Fund (b) 11,081,625 111,702,784 
Fidelity Series International Credit Fund (b) 183,212 1,751,504 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 11,929,063 127,521,685 
Fidelity Series Real Estate Income Fund (b) 2,634,302 22,180,819 
TOTAL BOND FUNDS   
(Cost $337,111,150)  343,024,610 
Short-Term Funds - 3.6%   
Fidelity Cash Central Fund 0.29% (c) 18,738,793 18,744,414 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 156,431,430 156,431,430 
Fidelity Series Short-Term Credit Fund (b) 1,124,703 11,112,065 
TOTAL SHORT-TERM FUNDS   
(Cost $186,343,137)  186,287,909 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $5,918,577,681)  5,227,081,784 
NET OTHER ASSETS (LIABILITIES) - 0.1%  3,436,252 
NET ASSETS - 100%  $5,230,518,036 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Sold      
Equity Index Contracts      
CME E-mini S&P 500 Index Contracts (United States) 68 June 2020 $8,736,980 $383,434 $383,434 

The notional amount of futures sold as a percentage of Net Assets is 0.2%

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $5,379,016.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $117,702 
Total $117,702 

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 $126,040,895 $37,305,973 $38,129,860 $16,117,365 $(4,848,169) $(17,830,067) $102,538,772 
Fidelity Series Blue Chip Growth Fund 228,647,841 60,160,707 76,955,219 24,155,804 751,019 (25,097,125) 187,507,223 
Fidelity Series Canada Fund 49,210,225 82,192,212 2,416,540 1,550,619 9,372 (26,722,445) 102,272,824 
Fidelity Series Commodity Strategy Fund 128,618,659 127,074,987 27,286,195 3,129,959 (4,297,363) (49,285,659) 174,824,429 
Fidelity Series Emerging Markets Debt Fund 31,485,741 11,771,676 3,927,639 2,004,390 (429,410) (6,048,580) 32,851,788 
Fidelity Series Emerging Markets Fund 50,365,991 35,427,437 2,616,097 1,729,329 (91,150) (21,773,196) 61,312,985 
Fidelity Series Emerging Markets Opportunities Fund 470,525,029 249,242,645 27,536,354 17,067,405 (339,584) (116,073,015) 575,818,721 
Fidelity Series Floating Rate High Income Fund 6,441,396 1,969,456 557,932 404,404 (2,512) (1,019,773) 6,830,635 
Fidelity Series Government Money Market Fund 0.4% 37,109,170 207,563,221 88,240,961 955,431 -- -- 156,431,430 
Fidelity Series Growth Company Fund 460,565,852 118,658,017 167,207,470 45,733,953 2,082,016 (28,103,231) 385,995,184 
Fidelity Series High Income Fund 54,731,749 10,201,856 19,156,975 2,710,965 (700,429) (4,890,806) 40,185,395 
Fidelity Series Inflation-Protected Bond Index Fund 15,013,794 118,427,266 22,210,153 1,547,677 75,066 396,811 111,702,784 
Fidelity Series International Credit Fund 1,705,788 108,609 -- 108,610 -- (62,893) 1,751,504 
Fidelity Series International Growth Fund 482,103,791 109,363,631 135,586,483 21,523,942 1,995,192 (19,859,337) 438,016,794 
Fidelity Series International Small Cap Fund 111,391,005 28,637,028 16,756,242 5,476,324 (1,795,808) (16,660,992) 104,814,991 
Fidelity Series International Value Fund 451,195,414 153,290,788 92,658,041 22,935,547 (6,811,353) (113,015,456) 392,001,352 
Fidelity Series Intrinsic Opportunities Fund 526,194,265 139,992,793 112,559,799 27,731,946 (6,367,074) (118,488,320) 428,771,865 
Fidelity Series Investment Grade Bond Fund 30,273,003 17,246,811 49,325,731 618,350 2,156,795 (350,878) -- 
Fidelity Series Large Cap Stock Fund 463,557,362 114,552,380 115,609,614 32,736,726 (877,295) (81,157,624) 380,465,209 
Fidelity Series Large Cap Value Index Fund 130,877,508 32,630,944 29,201,915 8,871,627 420,872 (30,229,924) 104,497,485 
Fidelity Series Long-Term Treasury Bond Index Fund 184,594,050 69,339,083 158,435,927 15,071,313 13,070,394 18,954,085 127,521,685 
Fidelity Series Opportunistic Insights Fund 238,979,253 66,156,547 63,486,771 25,336,920 525,138 (29,792,602) 212,381,565 
Fidelity Series Overseas Fund -- 424,188,454 -- 1,051,363 -- (60,949,277) 363,239,177 
Fidelity Series Real Estate Income Fund 23,953,808 6,552,830 1,755,919 1,649,041 (4,293) (6,565,607) 22,180,819 
Fidelity Series Short-Term Credit Fund 10,173,937 8,563,671 7,546,578 310,044 23,884 (102,849) 11,112,065 
Fidelity Series Small Cap Discovery Fund 60,105,304 15,638,886 12,797,020 4,107,065 (457,723) (19,826,181) 42,663,266 
Fidelity Series Small Cap Opportunities Fund 188,990,474 46,413,936 39,521,894 13,015,109 (637,807) (46,789,729) 148,454,980 
Fidelity Series Stock Selector Large Cap Value Fund 353,379,470 86,291,074 75,144,983 24,141,250 (1,055,300) (84,311,649) 279,158,612 
Fidelity Series Value Discovery Fund 247,639,583 63,174,500 50,543,937 12,679,113 20,779 (52,636,110) 207,654,815 
 $5,163,870,357 $2,442,137,418 $1,437,172,249 $334,471,591 $(7,584,743) $(958,292,429) $5,202,958,354 

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, 2020, 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 $5,379,016 $-- $5,379,016 $-- 
Domestic Equity Funds 2,654,913,405 2,654,913,405 -- -- 
International Equity Funds 2,037,476,844 2,037,476,844 -- -- 
Bond Funds 343,024,610 343,024,610 -- -- 
Short-Term Funds 186,287,909 186,287,909 -- -- 
Total Investments in Securities: $5,227,081,784 $5,221,702,768 $5,379,016 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $383,434 $383,434 $-- $-- 
Total Assets $383,434 $383,434 $-- $-- 
Total Derivative Instruments: $383,434 $383,434 $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2020. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type Value 
 Asset Liability 
Equity Risk   
Futures Contracts(a) $383,434 $0 
Total Equity Risk 383,434 
Total Value of Derivatives $383,434 $0 

 (a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $5,372,793) 
$5,379,016  
Fidelity Central Funds (cost $18,743,681) 18,744,414  
Other affiliated issuers (cost $5,894,461,207) 5,202,958,354  
Total Investment in Securities (cost $5,918,577,681)  $5,227,081,784 
Segregated cash with brokers for derivative instruments  2,726,333 
Receivable for investments sold  2,758,643 
Receivable for fund shares sold  14,677,927 
Distributions receivable from Fidelity Central Funds  9,880 
Receivable for daily variation margin on futures contracts  831,250 
Total assets  5,248,085,817 
Liabilities   
Payable for investments purchased $9,108,380  
Payable for fund shares redeemed 5,574,866  
Accrued management fee 2,884,535  
Total liabilities  17,567,781 
Net Assets  $5,230,518,036 
Net Assets consist of:   
Paid in capital  $5,813,729,461 
Total accumulated earnings (loss)  (583,211,425) 
Net Assets  $5,230,518,036 
Net Asset Value and Maximum Offering Price   
Fidelity Freedom 2055 Fund:   
Net Asset Value, offering price and redemption price per share ($1,500,450,466 ÷ 136,971,441 shares)  $10.95 
Class K:   
Net Asset Value, offering price and redemption price per share ($2,984,272,260 ÷ 272,627,748 shares)  $10.95 
Class K6:   
Net Asset Value, offering price and redemption price per share ($745,795,310 ÷ 68,228,771 shares)  $10.93 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $129,614,819 
Interest  55,370 
Income from Fidelity Central Funds  117,702 
Total income  129,787,891 
Expenses   
Management fee $37,227,598  
Independent trustees' fees and expenses 21,560  
Total expenses before reductions 37,249,158  
Expense reductions (34)  
Total expenses after reductions  37,249,124 
Net investment income (loss)  92,538,767 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 23,167  
Fidelity Central Funds 53  
Other affiliated issuers (7,584,743)  
Futures contracts 16,558,380  
Capital gain distributions from underlying funds:   
Affiliated issuers 204,856,772  
Total net realized gain (loss)  213,853,629 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 6,221  
Fidelity Central Funds 584  
Other affiliated issuers (958,292,429)  
Futures contracts 548,310  
Total change in net unrealized appreciation (depreciation)  (957,737,314) 
Net gain (loss)  (743,883,685) 
Net increase (decrease) in net assets resulting from operations  $(651,344,918) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $92,538,767 $70,258,957 
Net realized gain (loss) 213,853,629 281,144,900 
Change in net unrealized appreciation (depreciation) (957,737,314) (256,701,285) 
Net increase (decrease) in net assets resulting from operations (651,344,918) 94,702,572 
Distributions to shareholders (364,707,384) (280,535,469) 
Share transactions - net increase (decrease) 1,076,025,735 962,985,488 
Total increase (decrease) in net assets 59,973,433 777,152,591 
Net Assets   
Beginning of period 5,170,544,603 4,393,392,012 
End of period $5,230,518,036 $5,170,544,603 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Freedom 2055 Fund

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $13.10 $13.70 $12.41 $11.08 $12.06 
Income from Investment Operations      
Net investment income (loss)A .20 .19 .14 .17 .17 
Net realized and unrealized gain (loss) (1.49) B 1.64 1.57 (.59) 
Total from investment operations (1.29) .19 1.78 1.74 (.42) 
Distributions from net investment income (.20) (.19) (.15) (.16) (.17) 
Distributions from net realized gain (.66) (.60) (.34) (.25) (.39) 
Total distributions (.86) (.79) (.49) (.41) (.56) 
Net asset value, end of period $10.95 $13.10 $13.70 $12.41 $11.08 
Total ReturnC (10.85)% 1.73% 14.49% 16.17% (3.69)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions .75% .75% .64%F - %G - %G 
Expenses net of fee waivers, if any .75% .75% .64%F -% -% 
Expenses net of all reductions .75% .75% .64%F -% -% 
Net investment income (loss) 1.54% 1.40% 1.06% 1.46% 1.51% 
Supplemental Data      
Net assets, end of period (000 omitted) $1,500,450 $1,490,393 $1,265,311 $922,284 $649,621 
Portfolio turnover rateE 25% 18% 15%H 18% 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $13.09 $13.69 $13.11 
Income from Investment Operations    
Net investment income (loss)B .21 .20 .19 
Net realized and unrealized gain (loss) (1.48) C .76 
Total from investment operations (1.27) .20 .95 
Distributions from net investment income (.21) (.20) (.17) 
Distributions from net realized gain (.66) (.60) (.20) 
Total distributions (.87) (.80) (.37) 
Net asset value, end of period $10.95 $13.09 $13.69 
Total ReturnD,E (10.70)% 1.84% 7.26% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .64% .64% .65%H,I 
Expenses net of fee waivers, if any .64% .64% .65%H,I 
Expenses net of all reductions .64% .64% .65%H,I 
Net investment income (loss) 1.64% 1.50% 2.01%H 
Supplemental Data    
Net assets, end of period (000 omitted) $2,984,272 $3,138,528 $2,992,599 
Portfolio turnover rateG 25% 18% 15%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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $13.08 $13.70 $12.83 
Income from Investment Operations    
Net investment income (loss)B .23 .21 .16 
Net realized and unrealized gain (loss) (1.48) C 1.09 
Total from investment operations (1.25) .21 1.25 
Distributions from net investment income (.23) (.23) (.17) 
Distributions from net realized gain (.67) (.60) (.20) 
Total distributions (.90) (.83) (.38)D 
Net asset value, end of period $10.93 $13.08 $13.70 
Total ReturnE,F (10.61)% 1.97% 9.70% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .49% .50%I .50%I,J 
Expenses net of fee waivers, if any .49% .50%I .50%I,J 
Expenses net of all reductions .49% .50%I .50%I,J 
Net investment income (loss) 1.79% 1.65% 1.43%J 
Supplemental Data    
Net assets, end of period (000 omitted) $745,795 $541,624 $135,481 
Portfolio turnover rateH 25% 18% 15%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 distributions of $.38 per share is comprised of distributions from net investment income of $.174 and distributions from net realized gain of $.202 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 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 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, 2020

 % of fund's net assets 
Fidelity Series Emerging Markets Opportunities Fund 11.0 
Fidelity Series International Growth Fund 8.4 
Fidelity Series Intrinsic Opportunities Fund 8.2 
Fidelity Series International Value Fund 7.5 
Fidelity Series Growth Company Fund 7.4 
Fidelity Series Large Cap Stock Fund 7.3 
Fidelity Series Overseas Fund 6.9 
Fidelity Series Stock Selector Large Cap Value Fund 5.3 
Fidelity Series Opportunistic Insights Fund 4.0 
Fidelity Series Value Discovery Fund 4.0 
 70.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.7% 
   International Equity Funds 39.0% 
   Bond Funds 6.5% 
   Short-Term Funds 3.6% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $1,627,842) 1,630,000 1,629,702 
 Shares Value 
Domestic Equity Funds - 50.7%   
Fidelity Series All-Sector Equity Fund (b) 4,032,047 $31,611,245 
Fidelity Series Blue Chip Growth Fund (b) 4,485,096 57,857,745 
Fidelity Series Commodity Strategy Fund (b) 14,796,991 54,009,017 
Fidelity Series Growth Company Fund (b) 7,584,071 119,069,908 
Fidelity Series Intrinsic Opportunities Fund (b) 10,406,805 132,374,559 
Fidelity Series Large Cap Stock Fund (b) 9,801,676 117,522,100 
Fidelity Series Large Cap Value Index Fund (b) 3,359,210 32,282,005 
Fidelity Series Opportunistic Insights Fund (b) 4,277,224 65,527,077 
Fidelity Series Small Cap Discovery Fund (b) 1,766,043 13,227,659 
Fidelity Series Small Cap Opportunities Fund (b) 4,523,094 45,909,405 
Fidelity Series Stock Selector Large Cap Value Fund (b) 9,610,564 86,302,866 
Fidelity Series Value Discovery Fund (b) 6,458,020 64,128,138 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $994,436,290)  819,821,724 
International Equity Funds - 39.0%   
Fidelity Series Canada Fund (b) 3,828,452 31,737,865 
Fidelity Series Emerging Markets Fund (b) 2,678,252 18,962,022 
Fidelity Series Emerging Markets Opportunities Fund (b) 11,427,970 177,933,485 
Fidelity Series International Growth Fund (b) 9,335,275 135,174,776 
Fidelity Series International Small Cap Fund (b) 2,421,963 32,381,643 
Fidelity Series International Value Fund (b) 16,952,517 121,040,970 
Fidelity Series Overseas Fund (b) 12,965,816 112,154,305 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $746,259,058)  629,385,066 
Bond Funds - 6.5%   
Fidelity Series Emerging Markets Debt Fund (b) 1,259,269 10,149,712 
Fidelity Series Floating Rate High Income Fund (b) 275,495 2,214,978 
Fidelity Series High Income Fund (b) 1,506,029 12,409,675 
Fidelity Series Inflation-Protected Bond Index Fund (b) 3,422,664 34,500,453 
Fidelity Series International Credit Fund (b) 26,874 256,913 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 3,684,118 39,383,216 
Fidelity Series Real Estate Income Fund (b) 827,177 6,964,826 
TOTAL BOND FUNDS   
(Cost $103,713,726)  105,879,773 
Short-Term Funds - 3.6%   
Fidelity Cash Central Fund 0.29% (c) 5,660,278 5,661,976 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 48,201,151 48,201,151 
Fidelity Series Short-Term Credit Fund (b) 365,817 3,614,277 
TOTAL SHORT-TERM FUNDS   
(Cost $57,491,895)  57,477,404 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $1,903,528,811)  1,614,193,669 
NET OTHER ASSETS (LIABILITIES) - 0.1%  1,052,661 
NET ASSETS - 100%  $1,615,246,330 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Sold      
Equity Index Contracts      
CME E-mini S&P 500 Index Contracts (United States) 23 June 2020 $2,955,155 $129,691 $129,691 

The notional amount of futures sold as a percentage of Net Assets is 0.2%

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,629,702.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $31,184 
Total $31,184 

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 $29,947,285 $17,615,457 $8,785,801 $4,763,645 $(592,523) $(6,573,173) $31,611,245 
Fidelity Series Blue Chip Growth Fund 57,192,555 28,894,814 20,673,463 6,766,277 (117,334) (7,438,827) 57,857,745 
Fidelity Series Canada Fund 12,292,894 28,769,628 1,133,373 451,631 3,668 (8,194,952) 31,737,865 
Fidelity Series Commodity Strategy Fund 32,110,355 45,893,719 8,045,617 886,223 (1,143,953) (14,805,487) 54,009,017 
Fidelity Series Emerging Markets Debt Fund 7,740,612 5,463,281 1,099,179 560,813 (127,715) (1,827,287) 10,149,712 
Fidelity Series Emerging Markets Fund 12,552,754 13,787,194 845,886 502,221 (32,942) (6,499,098) 18,962,022 
Fidelity Series Emerging Markets Opportunities Fund 117,006,846 105,255,514 8,227,715 4,957,022 113,807 (36,214,967) 177,933,485 
Fidelity Series Floating Rate High Income Fund 1,634,093 1,063,289 158,361 117,099 (608) (323,435) 2,214,978 
Fidelity Series Government Money Market Fund 0.4% 9,263,487 63,814,070 24,876,406 264,355 -- -- 48,201,151 
Fidelity Series Growth Company Fund 115,099,886 57,403,937 44,530,311 13,326,922 (93,320) (8,810,284) 119,069,908 
Fidelity Series High Income Fund 13,628,652 5,351,932 4,847,837 762,921 (110,063) (1,613,009) 12,409,675 
Fidelity Series Inflation-Protected Bond Index Fund 3,747,611 37,191,682 6,562,537 448,497 19,231 104,466 34,500,453 
Fidelity Series International Credit Fund 250,207 15,931 -- 15,931 -- (9,225) 256,913 
Fidelity Series International Growth Fund 119,833,004 59,807,792 36,767,199 6,230,216 (413,288) (7,285,533) 135,174,776 
Fidelity Series International Small Cap Fund 27,790,262 15,495,191 5,085,985 1,614,833 (606,339) (5,211,486) 32,381,643 
Fidelity Series International Value Fund 112,865,444 70,869,988 25,964,503 6,659,424 (1,257,945) (35,472,014) 121,040,970 
Fidelity Series Intrinsic Opportunities Fund 130,197,996 68,828,806 29,209,588 7,802,607 (2,179,748) (35,262,907) 132,374,559 
Fidelity Series Investment Grade Bond Fund 7,682,189 5,454,000 13,618,738 164,396 579,520 (96,971) -- 
Fidelity Series Large Cap Stock Fund 116,163,701 57,971,634 31,270,317 9,038,224 (456,393) (24,886,525) 117,522,100 
Fidelity Series Large Cap Value Index Fund 32,720,731 16,808,722 7,983,192 2,585,613 (21,361) (9,242,895) 32,282,005 
Fidelity Series Long-Term Treasury Bond Index Fund 46,093,036 28,114,792 44,015,625 4,301,917 3,254,522 5,936,491 39,383,216 
Fidelity Series Opportunistic Insights Fund 59,941,148 32,160,096 17,110,334 7,400,665 (120,586) (9,343,247) 65,527,077 
Fidelity Series Overseas Fund -- 130,699,783 -- 305,313 -- (18,545,478) 112,154,305 
Fidelity Series Real Estate Income Fund 6,087,554 3,434,240 498,519 469,519 (3,253) (2,055,196) 6,964,826 
Fidelity Series Short-Term Credit Fund 2,549,041 3,147,987 2,054,218 86,607 5,759 (34,292) 3,614,277 
Fidelity Series Small Cap Discovery Fund 15,230,898 7,886,341 3,700,815 1,150,835 (126,423) (6,062,342) 13,227,659 
Fidelity Series Small Cap Opportunities Fund 47,492,096 23,554,463 10,707,257 3,641,771 (233,233) (14,196,664) 45,909,405 
Fidelity Series Stock Selector Large Cap Value Fund 88,184,549 44,584,879 19,850,220 7,088,992 (494,008) (26,122,334) 86,302,866 
Fidelity Series Value Discovery Fund 61,913,982 32,259,899 13,680,811 3,713,936 (134,643) (16,230,289) 64,128,138 
 $1,287,212,868 $1,011,599,061 $391,303,807 $96,078,425 $(4,289,171) $(296,316,960) $1,606,901,991 

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, 2020, 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 $1,629,702 $-- $1,629,702 $-- 
Domestic Equity Funds 819,821,724 819,821,724 -- -- 
International Equity Funds 629,385,066 629,385,066 -- -- 
Bond Funds 105,879,773 105,879,773 -- -- 
Short-Term Funds 57,477,404 57,477,404 -- -- 
Total Investments in Securities: $1,614,193,669 $1,612,563,967 $1,629,702 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $129,691 $129,691 $-- $-- 
Total Assets $129,691 $129,691 $-- $-- 
Total Derivative Instruments: $129,691 $129,691 $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2020. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type Value 
 Asset Liability 
Equity Risk   
Futures Contracts(a) $129,691 $0 
Total Equity Risk 129,691 
Total Value of Derivatives $129,691 $0 

 (a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,627,842) 
$1,629,702  
Fidelity Central Funds (cost $5,661,762) 5,661,976  
Other affiliated issuers (cost $1,896,239,207) 1,606,901,991  
Total Investment in Securities (cost $1,903,528,811)  $1,614,193,669 
Segregated cash with brokers for derivative instruments  834,462 
Receivable for investments sold  839,360 
Receivable for fund shares sold  6,445,559 
Distributions receivable from Fidelity Central Funds  3,009 
Receivable for daily variation margin on futures contracts  255,012 
Total assets  1,622,571,071 
Liabilities   
Payable for investments purchased $4,639,286  
Payable for fund shares redeemed 1,809,473  
Accrued management fee 875,982  
Total liabilities  7,324,741 
Net Assets  $1,615,246,330 
Net Assets consist of:   
Paid in capital  $1,874,852,393 
Total accumulated earnings (loss)  (259,606,063) 
Net Assets  $1,615,246,330 
Net Asset Value and Maximum Offering Price   
Fidelity Freedom 2060 Fund:   
Net Asset Value, offering price and redemption price per share ($451,002,216 ÷ 45,710,447 shares)  $9.87 
Class K:   
Net Asset Value, offering price and redemption price per share ($933,551,061 ÷ 94,698,956 shares)  $9.86 
Class K6:   
Net Asset Value, offering price and redemption price per share ($230,693,053 ÷ 23,411,663 shares)  $9.85 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $37,096,628 
Interest  15,237 
Income from Fidelity Central Funds  31,184 
Total income  37,143,049 
Expenses   
Management fee $10,413,104  
Independent trustees' fees and expenses 5,893  
Total expenses before reductions 10,418,997  
Expense reductions (163)  
Total expenses after reductions  10,418,834 
Net investment income (loss)  26,724,215 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 4,970  
Fidelity Central Funds  
Other affiliated issuers (4,289,171)  
Futures contracts 4,797,631  
Capital gain distributions from underlying funds:   
Affiliated issuers 58,981,797  
Total net realized gain (loss)  59,495,234 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 1,859  
Fidelity Central Funds 175  
Other affiliated issuers (296,316,960)  
Futures contracts 164,813  
Total change in net unrealized appreciation (depreciation)  (296,150,113) 
Net gain (loss)  (236,654,879) 
Net increase (decrease) in net assets resulting from operations  $(209,930,664) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $26,724,215 $15,717,482 
Net realized gain (loss) 59,495,234 59,347,062 
Change in net unrealized appreciation (depreciation) (296,150,113) (50,294,411) 
Net increase (decrease) in net assets resulting from operations (209,930,664) 24,770,133 
Distributions to shareholders (94,869,567) (52,942,972) 
Share transactions - net increase (decrease) 631,151,652 499,126,039 
Total increase (decrease) in net assets 326,351,421 470,953,200 
Net Assets   
Beginning of period 1,288,894,909 817,941,709 
End of period $1,615,246,330 $1,288,894,909 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Freedom 2060 Fund

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.76 $12.20 $11.01 $9.78 $10.45 
Income from Investment Operations      
Net investment income (loss)A .19 .17 .13 .16 .16 
Net realized and unrealized gain (loss) (1.34) .01 1.46 1.37 (.53) 
Total from investment operations (1.15) .18 1.59 1.53 (.37) 
Distributions from net investment income (.19) (.16) (.13) (.13) (.12) 
Distributions from net realized gain (.55) (.45) (.26) (.17) (.17) 
Total distributions (.74) (.62)B (.40)C (.30) (.30)D 
Net asset value, end of period $9.87 $11.76 $12.20 $11.01 $9.78 
Total ReturnE (10.80)% 1.78% 14.50% 16.01% (3.67)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .75% .75% .66%H - %I - %I 
Expenses net of fee waivers, if any .75% .75% .66%H -% -% 
Expenses net of all reductions .75% .75% .66%H -% -% 
Net investment income (loss) 1.59% 1.46% 1.09% 1.54% 1.67% 
Supplemental Data      
Net assets, end of period (000 omitted) $451,002 $367,472 $241,896 $116,155 $47,019 
Portfolio turnover rateG 25% 16% 11%J 21% 31% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.62 per share is comprised of distributions from net investment income of $.161 and distributions from net realized gain of $.454 per share.

 C Total distributions of $.40 per share is comprised of distributions from net investment income of $.132 and distributions from net realized gain of $.263 per share.

 D Total distributions of .30 per share is comprised of distributions from net investment income of $.121 and distributions from net realized gain of $.174 per share.

 E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Amount represents less than .005%.

 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 2060 Fund Class K

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $11.74 $12.19 $11.65 
Income from Investment Operations    
Net investment income (loss)B .20 .19 .16 
Net realized and unrealized gain (loss) (1.34) (.01)C .68 
Total from investment operations (1.14) .18 .84 
Distributions from net investment income (.19) (.17) (.15) 
Distributions from net realized gain (.55) (.45) (.15) 
Total distributions (.74) (.63)D (.30) 
Net asset value, end of period $9.86 $11.74 $12.19 
Total ReturnE,F (10.66)% 1.80% 7.19% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .64% .64% .65%I,J 
Expenses net of fee waivers, if any .64% .64% .65%I,J 
Expenses net of all reductions .64% .64% .65%I,J 
Net investment income (loss) 1.69% 1.57% 1.92%I 
Supplemental Data    
Net assets, end of period (000 omitted) $933,551 $784,848 $549,158 
Portfolio turnover rateH 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 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 distributions of $.63 per share is comprised of distributions from net investment income of $.172 and distributions from net realized gain of $.454 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 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 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, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $11.75 $12.20 $11.40 
Income from Investment Operations    
Net investment income (loss)B .22 .20 .14 
Net realized and unrealized gain (loss) (1.35) C .96 
Total from investment operations (1.13) .20 1.10 
Distributions from net investment income (.21) (.20) (.15) 
Distributions from net realized gain (.56) (.45) (.15) 
Total distributions (.77) (.65) (.30) 
Net asset value, end of period $9.85 $11.75 $12.20 
Total ReturnD,E (10.65)% 2.05% 9.65% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .49% .50%H .50%H,I 
Expenses net of fee waivers, if any .49% .50%H .50%H,I 
Expenses net of all reductions .49% .50%H .50%H,I 
Net investment income (loss) 1.84% 1.71% 1.44%I 
Supplemental Data    
Net assets, end of period (000 omitted) $230,693 $136,574 $26,888 
Portfolio turnover rateG 25% 16% 11%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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 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 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, 2020

 % of fund's net assets 
Fidelity Series Emerging Markets Opportunities Fund 11.2 
Fidelity Series International Growth Fund 8.3 
Fidelity Series Intrinsic Opportunities Fund 8.1 
Fidelity Series International Value Fund 7.5 
Fidelity Series Overseas Fund 7.3 
Fidelity Series Large Cap Stock Fund 7.3 
Fidelity Series Growth Company Fund 7.0 
Fidelity Series Stock Selector Large Cap Value Fund 5.5 
Fidelity Series Value Discovery Fund 3.9 
Fidelity Series Opportunistic Insights Fund 3.8 
 69.9 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.1% 
   International Equity Funds 39.5% 
   Bond Funds 6.6% 
   Short-Term Funds 3.8% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 50.1%   
 Shares Value 
Fidelity Series All-Sector Equity Fund (a) 98,309 $770,740 
Fidelity Series Blue Chip Growth Fund (a) 105,305 1,358,432 
Fidelity Series Commodity Strategy Fund (a) 374,669 1,367,541 
Fidelity Series Growth Company Fund (a) 176,688 2,774,005 
Fidelity Series Intrinsic Opportunities Fund (a) 255,274 3,247,083 
Fidelity Series Large Cap Stock Fund (a) 241,156 2,891,456 
Fidelity Series Large Cap Value Index Fund (a) 82,091 788,891 
Fidelity Series Opportunistic Insights Fund (a) 97,784 1,498,051 
Fidelity Series Small Cap Discovery Fund (a) 46,256 346,457 
Fidelity Series Small Cap Opportunities Fund (a) 114,482 1,161,992 
Fidelity Series Stock Selector Large Cap Value Fund (a) 243,695 2,188,378 
Fidelity Series Value Discovery Fund (a) 155,496 1,544,072 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $24,213,174)  19,937,098 
International Equity Funds - 39.5%   
Fidelity Series Canada Fund (a) 97,181 805,631 
Fidelity Series Emerging Markets Fund (a) 68,222 483,010 
Fidelity Series Emerging Markets Opportunities Fund (a) 286,314 4,457,914 
Fidelity Series International Growth Fund (a) 227,317 3,291,556 
Fidelity Series International Small Cap Fund (a) 59,455 794,912 
Fidelity Series International Value Fund (a) 421,068 3,006,424 
Fidelity Series Overseas Fund (a) 334,366 2,892,263 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $18,949,160)  15,731,710 
Bond Funds - 6.6%   
Fidelity Series Emerging Markets Debt Fund (a) 31,869 256,863 
Fidelity Series Floating Rate High Income Fund (a) 7,672 61,682 
Fidelity Series High Income Fund (a) 37,106 305,753 
Fidelity Series Inflation-Protected Bond Index Fund (a) 83,233 838,992 
Fidelity Series International Credit Fund (a) 2,274 21,744 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 89,919 961,232 
Fidelity Series Real Estate Income Fund (a) 20,487 172,497 
TOTAL BOND FUNDS   
(Cost $2,627,324)  2,618,763 
Short-Term Funds - 3.8%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 1,376,575 1,376,575 
Fidelity Series Short-Term Credit Fund (a) 15,155 149,735 
TOTAL SHORT-TERM FUNDS   
(Cost $1,529,865)  1,526,310 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $47,319,523)  39,813,881 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (869) 
NET ASSETS - 100%  $39,813,012 

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 $199 
Total $199 

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 $-- $1,032,055 $69,779 $62,693 $(6,853) $(184,683) $770,740 
Fidelity Series Blue Chip Growth Fund -- 1,661,058 130,425 14,756 (8,382) (163,819) 1,358,432 
Fidelity Series Canada Fund -- 1,033,841 44,067 3,481 (278) (183,865) 805,631 
Fidelity Series Commodity Strategy Fund -- 1,754,906 94,203 3,604 (5,077) (288,085) 1,367,541 
Fidelity Series Emerging Markets Debt Fund -- 312,857 15,871 3,791 (339) (39,784) 256,863 
Fidelity Series Emerging Markets Fund -- 639,249 25,654 4,051 (1,069) (129,516) 483,010 
Fidelity Series Emerging Markets Opportunities Fund -- 5,674,018 223,720 40,564 (9,778) (982,606) 4,457,914 
Fidelity Series Floating Rate High Income Fund -- 73,062 3,748 870 (179) (7,453) 61,682 
Fidelity Series Government Money Market Fund 0.4% -- 1,596,242 219,667 1,677 -- -- 1,376,575 
Fidelity Series Growth Company Fund -- 3,423,519 291,810 114,515 (21,953) (335,751) 2,774,005 
Fidelity Series High Income Fund -- 367,423 22,920 4,847 (1,600) (37,150) 305,753 
Fidelity Series Inflation-Protected Bond Index Fund -- 967,642 127,957 4,232 (632) (61) 838,992 
Fidelity Series International Credit Fund -- 24,216 977 330 (33) (1,462) 21,744 
Fidelity Series International Growth Fund -- 4,103,181 288,268 48,421 (20,176) (503,181) 3,291,556 
Fidelity Series International Small Cap Fund -- 1,053,620 92,481 14,605 (7,646) (158,581) 794,912 
Fidelity Series International Value Fund -- 4,154,276 286,915 53,730 (33,477) (827,460) 3,006,424 
Fidelity Series Intrinsic Opportunities Fund -- 4,290,007 285,012 22,903 (18,850) (739,062) 3,247,083 
Fidelity Series Investment Grade Bond Fund -- 51,226 49,202 123 (2,024) -- -- 
Fidelity Series Large Cap Stock Fund -- 3,746,575 205,471 31,385 (15,231) (634,417) 2,891,456 
Fidelity Series Large Cap Value Index Fund -- 1,085,675 72,898 23,679 (7,171) (216,715) 788,891 
Fidelity Series Long-Term Treasury Bond Index Fund -- 1,288,054 456,657 29,296 4,273 125,562 961,232 
Fidelity Series Opportunistic Insights Fund -- 1,895,682 142,995 73,973 (11,819) (242,817) 1,498,051 
Fidelity Series Overseas Fund -- 3,426,676 97,164 2,335 (5,009) (432,240) 2,892,263 
Fidelity Series Real Estate Income Fund -- 230,139 9,181 2,074 (247) (48,214) 172,497 
Fidelity Series Short-Term Credit Fund -- 159,329 6,016 629 (23) (3,555) 149,735 
Fidelity Series Small Cap Discovery Fund -- 515,358 29,366 6,503 (3,161) (136,374) 346,457 
Fidelity Series Small Cap Opportunities Fund -- 1,563,066 99,140 7,252 (7,983) (293,951) 1,161,992 
Fidelity Series Stock Selector Large Cap Value Fund -- 3,019,614 168,535 81,381 (16,938) (645,763) 2,188,378 
Fidelity Series Value Discovery Fund -- 2,093,510 143,141 39,338 (11,658) (394,639) 1,544,072 
 $-- $51,236,076 $3,703,240 $697,038 $(213,313) $(7,505,642) $39,813,881 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $47,319,523) $39,813,881  
Total Investment in Securities (cost $47,319,523)  $39,813,881 
Receivable for investments sold  131,507 
Receivable for fund shares sold  510,609 
Total assets  40,455,997 
Liabilities   
Payable for investments purchased $601,983  
Payable for fund shares redeemed 21,966  
Accrued management fee 19,036  
Total liabilities  642,985 
Net Assets  $39,813,012 
Net Assets consist of:   
Paid in capital  $47,167,961 
Total accumulated earnings (loss)  (7,354,949) 
Net Assets  $39,813,012 
Net Asset Value and Maximum Offering Price   
Fidelity Freedom 2065 Fund:   
Net Asset Value, offering price and redemption price per share ($13,332,302 ÷ 1,564,864 shares)  $8.52 
Class K:   
Net Asset Value, offering price and redemption price per share ($20,386,592 ÷ 2,392,557 shares)  $8.52 
Class K6:   
Net Asset Value, offering price and redemption price per share ($6,094,118 ÷ 714,525 shares)  $8.53 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  For the period
June 28, 2019 (commencement of operations) to
March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $251,905 
Interest  16 
Income from Fidelity Central Funds  199 
Total income  252,120 
Expenses   
Management fee $68,769  
Independent trustees' fees and expenses 24  
Total expenses  68,793 
Net investment income (loss)  183,327 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers (213,313)  
Futures contracts (1,934)  
Capital gain distributions from underlying funds:   
Affiliated issuers 445,133  
Total net realized gain (loss)  229,886 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (7,505,642)  
Total change in net unrealized appreciation (depreciation)  (7,505,642) 
Net gain (loss)  (7,275,756) 
Net increase (decrease) in net assets resulting from operations  $(7,092,429) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 For the period
June 28, 2019 (commencement of operations) to
March 31, 2020 
Increase (Decrease) in Net Assets  
Operations  
Net investment income (loss) $183,327 
Net realized gain (loss) 229,886 
Change in net unrealized appreciation (depreciation) (7,505,642) 
Net increase (decrease) in net assets resulting from operations (7,092,429) 
Distributions to shareholders (262,520) 
Share transactions - net increase (decrease) 47,167,961 
Total increase (decrease) in net assets 39,813,012 
Net Assets  
Beginning of period – 
End of period $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, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .13 
Net realized and unrealized gain (loss) (1.46) 
Total from investment operations (1.33) 
Distributions from net investment income (.12) 
Distributions from net realized gain (.03) 
Total distributions (.15) 
Net asset value, end of period $8.52 
Total ReturnC (13.60)% 
Ratios to Average Net AssetsD,E  
Expenses before reductions .76%F,G 
Expenses net of fee waivers, if any .76%F,G 
Expenses net of all reductions .76%F,G 
Net investment income (loss) 1.71%F 
Supplemental Data  
Net assets, end of period (000 omitted) $13,332 
Portfolio turnover rateE 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Annualized

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom 2065 Fund Class K

Years ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .13 
Net realized and unrealized gain (loss) (1.45) 
Total from investment operations (1.32) 
Distributions from net investment income (.13) 
Distributions from net realized gain (.03) 
Total distributions (.16) 
Net asset value, end of period $8.52 
Total ReturnC (13.55)% 
Ratios to Average Net AssetsD,E  
Expenses before reductions .65%F,G 
Expenses net of fee waivers, if any .65%F,G 
Expenses net of all reductions .65%F,G 
Net investment income (loss) 1.81%F 
Supplemental Data  
Net assets, end of period (000 omitted) $20,387 
Portfolio turnover rateE 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Annualized

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom 2065 Fund Class K6

Years ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .15 
Net realized and unrealized gain (loss) (1.46) 
Total from investment operations (1.31) 
Distributions from net investment income (.13) 
Distributions from net realized gain (.03) 
Total distributions (.16) 
Net asset value, end of period $8.53 
Total ReturnC (13.43)% 
Ratios to Average Net AssetsD,E  
Expenses before reductions .50%F,G 
Expenses net of fee waivers, if any .50%F,G 
Expenses net of all reductions .50%F,G 
Net investment income (loss) 1.97%F 
Supplemental Data  
Net assets, end of period (000 omitted) $6,094 
Portfolio turnover rateE 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Annualized

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Notes to Financial Statements

For the period ended March 31, 2020

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. The Funds invest primarily in a combination of other Fidelity equity, bond, and short-term funds (the Underlying Funds) managed by Fidelity Management & Research Company LLC (FMR).

Effective January 1, 2020, investment advisers Fidelity Investments Money Management, Inc., FMR Co., Inc., and Fidelity SelectCo, LLC, merged with and into Fidelity Management & Research Company. In connection with the merger transactions, the resulting, merged investment adviser was then redomiciled from Massachusetts to Delaware, changed its corporate structure from a corporation to a limited liability company, and changed its name to "Fidelity Management & Research Company LLC".

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 – Investments 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. The following summarizes the significant accounting policies of the Funds:

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 the 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 the Underlying 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.

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 the Underlying Funds, if any, are recorded on the ex-dividend date. Distributions from the Underlying Funds that are deemed to be return of capital are recorded as a reduction of cost of investments. 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 the Underlying Funds. Although not included in each Fund's expenses, each Fund indirectly bears its proportionate share of the Underlying Funds' expenses through the impact of these expenses on each Underlying Fund's 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) certain Funds, certain independent Trustees have elected to defer receipt of a portion of their annual compensation. Deferred amounts are invested in a cross-section of Fidelity funds, are marked-to-market and remain in each 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 each accompanying Statement of Assets and Liabilities in other receivables and other payables and accrued expenses, respectively.

Fidelity Freedom 2010 Fund $86,108 
Fidelity Freedom 2020 Fund 226,065 
Fidelity Freedom 2030 Fund 206,130 

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, 2020, 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, market discount, 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 $3,007,331,831 $154,151,823 $(80,382,267) $73,769,556 
Fidelity Freedom 2005 Fund 935,314,411 33,913,171 (32,802,457) 1,110,714 
Fidelity Freedom 2010 Fund 4,891,931,394 252,850,039 (179,948,680) 72,901,359 
Fidelity Freedom 2015 Fund 7,085,504,765 460,582,166 (297,740,740) 162,841,426 
Fidelity Freedom 2020 Fund 22,194,345,084 1,444,346,907 (1,125,909,675) 318,437,232 
Fidelity Freedom 2025 Fund 24,395,666,266 1,536,678,779 (1,696,137,615) (159,458,836) 
Fidelity Freedom 2030 Fund 28,770,056,779 2,009,515,458 (2,288,095,937) (278,580,479) 
Fidelity Freedom 2035 Fund 20,272,206,446 1,494,302,312 (2,146,983,177) (652,680,865) 
Fidelity Freedom 2040 Fund 20,046,435,119 1,593,222,645 (2,299,716,599) (706,493,954) 
Fidelity Freedom 2045 Fund 13,132,149,831 887,742,844 (1,625,735,013) (737,992,169) 
Fidelity Freedom 2050 Fund 11,519,663,647 735,772,562 (1,450,331,509) (714,558,947) 
Fidelity Freedom 2055 Fund 5,959,727,757 176,362,901 (909,008,874) (732,645,973) 
Fidelity Freedom 2060 Fund 1,917,765,025 23,184,071 (326,755,427) (303,571,356) 
Fidelity Freedom 2065 Fund 47,538,061 416,636 (8,140,816) (7,724,180) 

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 $7,505,095 $36,429,221 $73,769,556 
Fidelity Freedom 2005 Fund 3,360,798 12,511,078 1,110,714 
Fidelity Freedom 2010 Fund 16,189,192 110,371,845 72,901,359 
Fidelity Freedom 2015 Fund 20,600,975 207,436,470 162,841,426 
Fidelity Freedom 2020 Fund 40,649,678 667,981,781 318,437,232 
Fidelity Freedom 2025 Fund 27,007,173 614,845,270 (159,458,836) 
Fidelity Freedom 2030 Fund 38,644,472 837,385,656 (278,580,479) 
Fidelity Freedom 2035 Fund 5,182,569 627,390,486 (652,680,865) 
Fidelity Freedom 2040 Fund 5,311,574 636,583,139 (706,493,954) 
Fidelity Freedom 2045 Fund 3,258,602 385,633,353 (737,992,169) 
Fidelity Freedom 2050 Fund 291,463 337,938,765 (714,558,947) 
Fidelity Freedom 2055 Fund – 150,979,872 (732,645,973) 
Fidelity Freedom 2060 Fund 482,035 43,483,259 (303,571,356) 
Fidelity Freedom 2065 Fund 18,948 350,283 (7,724,180) 

Certain of the Funds intend to elect to defer to the next fiscal year ordinary losses recognized during the period January 1, 2020 to March 31, 2020. Loss deferrals were as follows:

 Ordinary losses 
Fidelity Freedom 2055 Fund $1,545,323 

The tax character of distributions paid was as follows:

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.

March 31, 2019    
 Ordinary Income Long-term Capital Gains Total 
Fidelity Freedom Income Fund $85,762,017 $92,431,324 $178,193,341 
Fidelity Freedom 2005 Fund 23,667,602 28,005,426 51,673,028 
Fidelity Freedom 2010 Fund 147,745,652 255,632,399 403,378,051 
Fidelity Freedom 2015 Fund 225,701,210 464,032,656 689,733,866 
Fidelity Freedom 2020 Fund 659,329,138 1,208,075,925 1,867,405,063 
Fidelity Freedom 2025 Fund 620,060,353 963,140,684 1,583,201,037 
Fidelity Freedom 2030 Fund 685,028,902 1,380,090,599 2,065,119,501 
Fidelity Freedom 2035 Fund 455,059,993 1,010,698,427 1,465,758,420 
Fidelity Freedom 2040 Fund 459,497,027 1,084,167,920 1,543,664,947 
Fidelity Freedom 2045 Fund 274,441,585 647,870,224 922,311,809 
Fidelity Freedom 2050 Fund 230,344,728 542,180,904 772,525,632 
Fidelity Freedom 2055 Fund 95,359,940 185,175,529 280,535,469 
Fidelity Freedom 2060 Fund 20,901,956 32,041,016 52,942,972 

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 risks:

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.
 
Interest Rate Risk Interest rate risk relates to the fluctuations in the value of interest-bearing securities due to changes in the prevailing levels of market interest rates. 

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.

Net Realized Gain (Loss) and Change in Net Unrealized Appreciation (Depreciation) on Derivatives. The table below, which reflects the impacts of derivatives on the financial performance of the applicable Funds, summarizes the net realized gain (loss) and change in net unrealized appreciation (depreciation) for derivatives during the period as presented in the Statement of Operations.

Primary Risk Exposure / Derivative Type Net Realized Gain (Loss) Change in Net Unrealized Appreciation (Depreciation) 
Fidelity Freedom Income Fund   
Equity Risk   
Futures Contracts $8,093,499 $473,698 
Total Equity Risk $8,093,499 $473,698 
Interest Rate Risk   
Futures Contracts $69,832 $(94,070) 
Total Interest Rate Risk 69,832 (94,070) 
Totals $8,163,331 $379,628 
Fidelity Freedom 2005 Fund   
Equity Risk   
Futures Contracts $2,477,853 $153,353 
Total Equity Risk $2,477,853 $153,353 
Interest Rate Risk   
Futures Contracts $81,230 $(68,714) 
Total Interest Rate Risk 81,230 (68,714) 
Totals $2,559,083 $84,639 
Fidelity Freedom 2010 Fund   
Equity Risk   
Futures Contracts $15,164,900 $979,390 
Total Equity Risk $15,164,900 $979,390 
Interest Rate Risk   
Futures Contracts $572,408 $(485,168) 
Total Interest Rate Risk 572,408 (485,168) 
Totals $15,737,308 $494,222 
Fidelity Freedom 2015 Fund   
Equity Risk   
Futures Contracts $21,642,246 $1,547,160 
Total Equity Risk $21,642,246 $1,547,160 
Interest Rate Risk   
Futures Contracts $1,017,519 $(856,204) 
Total Interest Rate Risk 1,017,519 (856,204) 
Totals $22,659,765 $690,956 
Fidelity Freedom 2020 Fund   
Equity Risk   
Futures Contracts $63,625,858 $5,424,174 
Total Equity Risk $63,625,858 $5,424,174 
Interest Rate Risk   
Futures Contracts $3,227,886 $(2,712,031) 
Total Interest Rate Risk 3,227,886 (2,712,031) 
Totals $66,853,744 $2,712,143 
Fidelity Freedom 2025 Fund   
Equity Risk   
Futures Contracts $65,907,868 $5,441,462 
Total Equity Risk $65,907,868 $5,441,462 
Interest Rate Risk   
Futures Contracts $3,281,829 $(2,768,491) 
Total Interest Rate Risk 3,281,829 (2,768,491) 
Totals $69,189,697 $2,672,971 
Fidelity Freedom 2030 Fund   
Equity Risk   
Futures Contracts $84,691,398 $6,591,592 
Total Equity Risk $84,691,398 $6,591,592 
Interest Rate Risk   
Futures Contracts $3,506,881 $(2,896,285) 
Total Interest Rate Risk 3,506,881 (2,896,285) 
Totals $88,198,279 $3,695,307 
Fidelity Freedom 2035 Fund   
Equity Risk   
Futures Contracts $63,068,755 $4,985,531 
Total Equity Risk $63,068,755 $4,985,531 
Interest Rate Risk   
Futures Contracts $2,823,243 $(2,371,956) 
Total Interest Rate Risk 2,823,243 (2,371,956) 
Totals $65,891,998 $2,613,575 
Fidelity Freedom 2040 Fund   
Equity Risk   
Futures Contracts $66,746,905 $2,646,309 
Total Equity Risk $66,746,905 $2,646,309 
Interest Rate Risk   
Futures Contracts $1,202,119 $(1,022,431) 
Total Interest Rate Risk 1,202,119 (1,022,431) 
Totals $67,949,024 $1,623,878 
Fidelity Freedom 2045 Fund   
Equity Risk   
Futures Contracts $41,002,323 $1,644,403 
Total Equity Risk $41,002,323 $1,644,403 
Interest Rate Risk   
Futures Contracts $768,417 $(650,620) 
Total Interest Rate Risk 768,417 (650,620) 
Totals $41,770,740 $993,783 
Fidelity Freedom 2050 Fund   
Equity Risk   
Futures Contracts $35,408,568 $1,405,323 
Total Equity Risk $35,408,568 $1,405,323 
Interest Rate Risk   
Futures Contracts $661,895 $(560,059) 
Total Interest Rate Risk 661,895 (560,059) 
Totals $36,070,463 $845,262 
Fidelity Freedom 2055 Fund   
Equity Risk   
Futures Contracts $16,260,515 $802,389 
Total Equity Risk $16,260,515 $802,389 
Interest Rate Risk   
Futures Contracts $297,865 $(254,079) 
Total Interest Rate Risk 297,865 (254,079) 
Totals $16,558,380 $548,310 
Fidelity Freedom 2060 Fund   
Equity Risk   
Futures Contracts $4,721,548 $231,157 
Total Equity Risk $4,721,548 $231,157 
Interest Rate Risk   
Futures Contracts $76,083 $(66,344) 
Total Interest Rate Risk 76,083 (66,344) 
Totals $4,797,631 $164,813 
Fidelity Freedom 2065 Fund   
Equity Risk   
Futures Contracts $(1,934) $– 
Total Equity Risk $(1,934) $– 

A summary of the value of derivatives by primary risk exposure as of period end, if any, is included at the end of the Schedule of Investments.

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, bond market and fluctuations in interest rates.

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 except for the Funds noted in the table below. For the period, the average monthly notional amount at value for futures contracts in the aggregate for each applicable Fund was as follows:

Fidelity Freedom Income Fund $11,545,333 
Fidelity Freedom 2005 Fund 4,010,462 
Fidelity Freedom 2010 Fund 25,712,935 
Fidelity Freedom 2015 Fund 42,273,006 
Fidelity Freedom 2020 Fund 131,291,370 
Fidelity Freedom 2025 Fund 129,907,159 

Securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

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 563,513,407 809,204,130 
Fidelity Freedom 2005 Fund 243,471,473 237,230,211 
Fidelity Freedom 2010 Fund 1,035,723,394 1,668,465,716 
Fidelity Freedom 2015 Fund 1,755,378,184 2,902,285,905 
Fidelity Freedom 2020 Fund 6,069,906,202 9,301,208,352 
Fidelity Freedom 2025 Fund 7,865,970,739 8,224,234,894 
Fidelity Freedom 2030 Fund 10,249,157,936 10,177,106,108 
Fidelity Freedom 2035 Fund 7,561,307,613 6,871,975,570 
Fidelity Freedom 2040 Fund 6,681,464,524 6,286,130,182 
Fidelity Freedom 2045 Fund 4,707,002,238 3,889,597,560 
Fidelity Freedom 2050 Fund 4,231,548,325 3,328,745,001 
Fidelity Freedom 2055 Fund 2,442,137,418 1,437,172,249 
Fidelity Freedom 2060 Fund 1,011,599,061 391,303,807 
Fidelity Freedom 2065 Fund 51,236,076 3,703,240 

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 .474% .422% 
Fidelity Freedom 2010 Fund .516% .454% 
Fidelity Freedom 2015 Fund .559% .489% 
Fidelity Freedom 2020 Fund .601% .524% 
Fidelity Freedom 2025 Fund .644% .559% 
Fidelity Freedom 2030 Fund .686% .594% 
Fidelity Freedom 2035 Fund .729% .629% 
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 .369% 
Fidelity Freedom 2010 Fund .388% 
Fidelity Freedom 2015 Fund .408% 
Fidelity Freedom 2020 Fund .427% 
Fidelity Freedom 2025 Fund .446% 
Fidelity Freedom 2030 Fund .466% 
Fidelity Freedom 2035 Fund .485% 
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. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

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 $36 
Fidelity Freedom 2005 Fund 89 
Fidelity Freedom 2010 Fund 23 
Fidelity Freedom 2015 Fund 197 
Fidelity Freedom 2020 Fund 
Fidelity Freedom 2025 Fund 
Fidelity Freedom 2035 Fund 
Fidelity Freedom 2040 Fund 15 
Fidelity Freedom 2055 Fund 34 
Fidelity Freedom 2060 Fund 163 

8. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

 Year ended
March 31, 2020 
Year ended
March 31, 2019 
Fidelity Freedom Income Fund   
Distributions to shareholders   
Fidelity Freedom Income Fund $72,007,586 $102,717,403 
Class K 43,479,313 70,626,011 
Class K6 7,093,597 4,849,927 
Total $122,580,496 $178,193,341 
Fidelity Freedom 2005 Fund   
Distributions to shareholders   
Fidelity Freedom 2005 Fund $25,491,635 $29,853,841 
Class K 15,775,254 20,287,074 
Class K6 2,733,589 1,532,113 
Total $44,000,478 $51,673,028 
Fidelity Freedom 2010 Fund   
Distributions to shareholders   
Fidelity Freedom 2010 Fund $211,793,549 $253,919,287 
Class K 99,095,225 139,656,036 
Class K6 15,289,256 9,802,728 
Total $326,178,030 $403,378,051 
Fidelity Freedom 2015 Fund   
Distributions to shareholders   
Fidelity Freedom 2015 Fund $324,113,832 $377,354,021 
Class K 207,703,580 287,986,155 
Class K6 39,922,738 24,393,690 
Total $571,740,150 $689,733,866 
Fidelity Freedom 2020 Fund   
Distributions to shareholders   
Fidelity Freedom 2020 Fund $815,401,294 $826,399,967 
Class K 815,964,865 956,998,176 
Class K6 147,736,621 84,006,920 
Total $1,779,102,780 $1,867,405,063 
Fidelity Freedom 2025 Fund   
Distributions to shareholders   
Fidelity Freedom 2025 Fund $697,439,181 $643,389,684 
Class K 836,842,165 845,201,451 
Class K6 185,157,186 94,609,902 
Total $1,719,438,532 $1,583,201,037 
Fidelity Freedom 2030 Fund   
Distributions to shareholders   
Fidelity Freedom 2030 Fund $923,094,479 $832,766,884 
Class K 1,123,248,324 1,115,314,992 
Class K6 229,291,936 117,037,625 
Total $2,275,634,739 $2,065,119,501 
Fidelity Freedom 2035 Fund   
Distributions to shareholders   
Fidelity Freedom 2035 Fund $596,847,384 $550,912,169 
Class K 803,187,819 813,680,040 
Class K6 189,690,955 101,166,211 
Total $1,589,726,158 $1,465,758,420 
Fidelity Freedom 2040 Fund   
Distributions to shareholders   
Fidelity Freedom 2040 Fund $600,503,686 $581,170,903 
Class K 813,339,526 864,717,475 
Class K6 174,145,784 97,776,569 
Total $1,587,988,996 $1,543,664,947 
Fidelity Freedom 2045 Fund   
Distributions to shareholders   
Fidelity Freedom 2045 Fund $306,477,247 $293,629,110 
Class K 534,743,331 563,596,638 
Class K6 126,245,248 65,086,061 
Total $967,465,826 $922,311,809 
Fidelity Freedom 2050 Fund   
Distributions to shareholders   
Fidelity Freedom 2050 Fund $258,697,557 $241,462,546 
Class K 471,956,025 478,387,408 
Class K6 101,131,805 52,675,678 
Total $831,785,387 $772,525,632 
Fidelity Freedom 2055 Fund   
Distributions to shareholders   
Fidelity Freedom 2055 Fund $104,523,244 $81,845,595 
Class K 214,235,275 178,822,212 
Class K6 45,948,865 19,867,662 
Total $364,707,384 $280,535,469 
Fidelity Freedom 2060 Fund   
Distributions to shareholders   
Fidelity Freedom 2060 Fund $26,492,028 $15,371,631 
Class K 56,366,020 33,767,760 
Class K6 12,011,519 3,803,581 
Total $94,869,567 $52,942,972 
Fidelity Freedom 2065 Fund(a)   
Distributions to shareholders   
Fidelity Freedom 2065 Fund $95,175 $– 
Class K 124,339 – 
Class K6 43,006 – 
Total $262,520 $– 

 (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, 2020 Year endedMarch 31, 2019 Year ended March 31, 2020 Year endedMarch 31, 2019 
Fidelity Freedom Income Fund     
Fidelity Freedom Income Fund     
Shares sold 26,121,699 25,058,541 $303,147,512 $286,757,008 
Reinvestment of distributions 6,066,578 8,973,666 70,508,362 100,623,614 
Shares redeemed (40,236,864) (41,698,472) (463,467,479) (476,864,729) 
Net increase (decrease) (8,048,587) (7,666,265) $(89,811,605) $(89,484,107) 
Class K     
Shares sold 28,729,451 24,707,642 $331,959,653 $282,292,785 
Reinvestment of distributions 3,749,746 6,301,112 43,479,313 70,626,011 
Shares redeemed (46,581,593) (57,099,968) (538,605,858) (651,962,576) 
Net increase (decrease) (14,102,396) (26,091,214) $(163,166,892) $(299,043,780) 
Class K6     
Shares sold 8,831,116 13,449,555 $102,603,018 $152,953,366 
Reinvestment of distributions 611,102 436,212 7,093,597 4,849,927 
Shares redeemed (6,158,367) (2,583,945) (70,913,009) (29,297,281) 
Net increase (decrease) 3,283,851 11,301,822 $38,783,606 $128,506,012 
Fidelity Freedom 2005 Fund     
Fidelity Freedom 2005 Fund     
Shares sold 8,912,259 8,707,889 $109,473,280 $105,898,952 
Reinvestment of distributions 2,045,322 2,498,926 25,171,128 29,581,031 
Shares redeemed (11,674,623) (12,238,570) (143,427,976) (149,557,798) 
Net increase (decrease) (717,042) (1,031,755) $(8,783,568) $(14,077,815) 
Class K     
Shares sold 13,255,967 9,255,304 $161,507,060 $113,037,972 
Reinvestment of distributions 1,283,723 1,716,365 15,775,254 20,287,074 
Shares redeemed (14,809,527) (15,495,358) (180,732,126) (188,855,616) 
Net increase (decrease) (269,837) (4,523,689) $(3,449,812) $(55,530,570) 
Class K6     
Shares sold 4,347,669 3,528,841 $53,376,611 $42,992,308 
Reinvestment of distributions 222,358 131,530 2,733,589 1,532,112 
Shares redeemed (2,107,046) (1,034,182) (25,611,844) (12,433,043) 
Net increase (decrease) 2,462,981 2,626,189 $30,498,356 $32,091,377 
Fidelity Freedom 2010 Fund     
Fidelity Freedom 2010 Fund     
Shares sold 20,894,956 22,137,663 $322,067,009 $343,265,947 
Reinvestment of distributions 13,467,359 16,784,206 207,961,251 250,047,842 
Shares redeemed (47,396,893) (48,968,002) (727,176,694) (758,581,263) 
Net increase (decrease) (13,034,578) (10,046,133) $(197,148,434) $(165,267,474) 
Class K     
Shares sold 17,657,853 18,984,925 $272,197,499 $293,919,487 
Reinvestment of distributions 6,430,073 9,374,907 99,095,225 139,656,036 
Shares redeemed (48,490,077) (53,900,418) (748,211,975) (833,905,445) 
Net increase (decrease) (24,402,151) (25,540,586) $(376,919,251) $(400,329,922) 
Class K6     
Shares sold 8,749,864 12,241,190 $135,382,945 $189,424,821 
Reinvestment of distributions 992,761 670,199 15,289,256 9,802,728 
Shares redeemed (5,642,318) (2,696,778) (86,333,102) (41,281,520) 
Net increase (decrease) 4,100,307 10,214,611 $64,339,099 $157,946,029 
Fidelity Freedom 2015 Fund     
Fidelity Freedom 2015 Fund     
Shares sold 44,976,552 68,644,548 $571,738,724 $886,402,243 
Reinvestment of distributions 25,205,665 30,420,107 320,413,116 373,367,843 
Shares redeemed (98,458,775) (112,629,257) (1,239,718,173) (1,453,808,319) 
Net increase (decrease) (28,276,558) (13,564,602) $(347,566,333) $(194,038,233) 
Class K     
Shares sold 38,083,926 48,472,774 $483,359,505 $623,037,344 
Reinvestment of distributions 16,367,820 23,474,505 207,703,580 287,986,155 
Shares redeemed (109,548,479) (145,174,941) (1,386,895,050) (1,869,172,103) 
Net increase (decrease) (55,096,733) (73,227,662) $(695,831,965) $(958,148,604) 
Class K6     
Shares sold 23,243,423 35,938,671 $296,603,521 $463,016,828 
Reinvestment of distributions 3,148,572 2,034,205 39,922,738 24,393,690 
Shares redeemed (16,133,607) (7,934,238) (203,711,568) (100,776,398) 
Net increase (decrease) 10,258,388 30,038,638 $132,814,691 $386,634,120 
Fidelity Freedom 2020 Fund     
Fidelity Freedom 2020 Fund     
Shares sold 139,690,923 174,048,484 $2,216,584,182 $2,786,786,989 
Reinvestment of distributions 50,724,965 53,655,013 806,638,619 818,525,498 
Shares redeemed (226,315,748) (226,928,918) (3,555,625,580) (3,635,996,707) 
Net increase (decrease) (35,899,860) 774,579 $(532,402,779) $(30,684,220) 
Class K     
Shares sold 132,922,791 159,909,895 $2,101,196,756 $2,553,281,316 
Reinvestment of distributions 51,419,484 62,766,863 815,964,865 956,998,176 
Shares redeemed (345,835,663) (375,652,943) (5,463,952,542) (6,006,032,882) 
Net increase (decrease) (161,493,388) (152,976,185) $(2,546,790,921) $(2,495,753,390) 
Class K6     
Shares sold 63,944,114 99,609,081 $1,017,603,053 $1,599,046,171 
Reinvestment of distributions 9,303,329 5,641,608 147,736,621 84,006,919 
Shares redeemed (41,894,795) (17,989,116) (657,395,250) (282,730,830) 
Net increase (decrease) 31,352,648 87,261,573 $507,944,424 $1,400,322,260 
Fidelity Freedom 2025 Fund     
Fidelity Freedom 2025 Fund     
Shares sold 168,609,148 190,997,403 $2,342,236,834 $2,665,870,688 
Reinvestment of distributions 49,663,947 48,080,617 692,028,162 639,002,472 
Shares redeemed (206,991,868) (208,942,009) (2,840,042,775) (2,921,895,528) 
Net increase (decrease) 11,281,227 30,136,011 $194,222,221 $382,977,632 
Class K     
Shares sold 209,650,490 219,109,631 $2,907,198,345 $3,047,407,947 
Reinvestment of distributions 60,178,720 63,709,142 836,842,165 845,201,451 
Shares redeemed (335,238,445) (385,355,828) (4,630,919,320) (5,360,718,475) 
Net increase (decrease) (65,409,235) (102,537,055) $(886,878,810) $(1,468,109,077) 
Class K6     
Shares sold 98,473,970 143,847,621 $1,371,151,544 $2,010,911,795 
Reinvestment of distributions 13,293,101 7,306,902 185,157,186 94,609,902 
Shares redeemed (51,551,759) (19,510,064) (707,624,891) (267,428,812) 
Net increase (decrease) 60,215,312 131,644,459 $848,683,839 $1,838,092,885 
Fidelity Freedom 2030 Fund     
Fidelity Freedom 2030 Fund     
Shares sold 134,513,465 150,298,688 $2,312,057,494 $2,620,161,152 
Reinvestment of distributions 52,952,294 50,125,929 914,971,406 826,346,269 
Shares redeemed (155,274,636) (154,952,069) (2,638,655,453) (2,709,471,936) 
Net increase (decrease) 32,191,123 45,472,548 $588,373,447 $737,035,485 
Class K     
Shares sold 176,534,632 187,359,164 $3,029,214,168 $3,255,368,824 
Reinvestment of distributions 65,114,314 67,704,007 1,123,248,324 1,115,314,992 
Shares redeemed (294,936,006) (317,489,316) (5,062,227,218) (5,520,962,244) 
Net increase (decrease) (53,287,060) (62,426,145) $(909,764,726) $(1,150,278,428) 
Class K6     
Shares sold 84,825,844 114,242,961 $1,468,459,705 $1,995,309,716 
Reinvestment of distributions 13,260,008 7,297,869 229,291,936 117,037,625 
Shares redeemed (37,055,380) (13,537,858) (629,252,755) (231,723,598) 
Net increase (decrease) 61,030,472 108,002,972 $1,068,498,886 $1,880,623,743 
Fidelity Freedom 2035 Fund     
Fidelity Freedom 2035 Fund     
Shares sold 113,741,577 138,496,945 $1,630,766,349 $2,037,156,074 
Reinvestment of distributions 40,976,204 39,740,764 592,915,749 547,688,796 
Shares redeemed (119,576,927) (136,013,816) (1,699,632,448) (2,013,190,111) 
Net increase (decrease) 35,140,854 42,223,893 $524,049,650 $571,654,759 
Class K     
Shares sold 168,867,390 185,251,656 $2,419,916,667 $2,714,632,551 
Reinvestment of distributions 55,644,661 59,222,839 803,187,819 813,680,040 
Shares redeemed (244,892,441) (289,910,315) (3,518,499,555) (4,248,047,149) 
Net increase (decrease) (20,380,390) (45,435,820) $(295,395,069) $(719,734,558) 
Class K6     
Shares sold 83,491,582 112,638,479 $1,205,269,478 $1,660,559,280 
Reinvestment of distributions 13,100,559 7,583,919 189,690,955 101,166,211 
Shares redeemed (36,490,371) (13,041,070) (518,046,774) (187,832,399) 
Net increase (decrease) 60,101,770 107,181,328 $876,913,659 $1,573,893,092 
Fidelity Freedom 2040 Fund     
Fidelity Freedom 2040 Fund     
Shares sold 148,207,317 182,072,693 $1,480,583,200 $1,878,923,853 
Reinvestment of distributions 58,986,229 59,905,740 594,906,221 576,239,377 
Shares redeemed (161,849,253) (185,049,244) (1,606,161,212) (1,921,335,739) 
Net increase (decrease) 45,344,293 56,929,189 $469,328,209 $533,827,491 
Class K     
Shares sold 228,513,475 258,792,906 $2,280,569,001 $2,655,852,866 
Reinvestment of distributions 80,764,580 90,012,951 813,339,526 864,717,475 
Shares redeemed (357,963,845) (418,657,133) (3,601,591,470) (4,307,896,378) 
Net increase (decrease) (48,685,790) (69,851,276) $(507,682,943) $(787,326,037) 
Class K6     
Shares sold 115,285,916 146,798,962 $1,161,910,139 $1,520,211,797 
Reinvestment of distributions 17,249,575 10,519,511 174,145,784 97,776,568 
Shares redeemed (48,956,074) (16,104,067) (486,362,405) (162,433,213) 
Net increase (decrease) 83,579,417 141,214,406 $849,693,518 $1,455,555,152 
Fidelity Freedom 2045 Fund     
Fidelity Freedom 2045 Fund     
Shares sold 92,834,825 119,195,819 $1,052,711,401 $1,394,706,563 
Reinvestment of distributions 26,536,232 26,703,997 303,790,239 291,331,809 
Shares redeemed (85,651,233) (108,800,376) (969,131,560) (1,284,013,422) 
Net increase (decrease) 33,719,824 37,099,440 $387,370,080 $402,024,950 
Class K     
Shares sold 169,535,052 183,374,163 $1,924,827,353 $2,134,406,191 
Reinvestment of distributions 46,786,003 51,875,559 534,743,331 563,596,638 
Shares redeemed (218,505,191) (261,085,998) (2,496,482,111) (3,037,292,345) 
Net increase (decrease) (2,184,136) (25,836,276) $(36,911,427) $(339,289,516) 
Class K6     
Shares sold 83,338,110 99,663,304 $949,921,676 $1,164,218,713 
Reinvestment of distributions 11,022,557 6,200,558 126,245,247 65,086,061 
Shares redeemed (33,203,180) (9,815,182) (375,039,791) (111,945,159) 
Net increase (decrease) 61,157,487 96,048,680 $701,127,132 $1,117,359,615 
Fidelity Freedom 2050 Fund     
Fidelity Freedom 2050 Fund     
Shares sold 86,803,107 104,143,856 $990,290,176 $1,224,783,503 
Reinvestment of distributions 22,134,695 21,745,643 255,338,403 238,582,101 
Shares redeemed (77,352,469) (90,449,638) (882,546,280) (1,071,655,417) 
Net increase (decrease) 31,585,333 35,439,861 $363,082,299 $391,710,187 
Class K     
Shares sold 164,631,759 175,911,537 $1,876,495,556 $2,056,748,125 
Reinvestment of distributions 40,989,580 43,756,458 471,956,025 478,387,408 
Shares redeemed (192,383,993) (228,313,958) (2,214,961,322) (2,677,330,866) 
Net increase (decrease) 13,237,346 (8,645,963) $133,490,259 $(142,195,333) 
Class K6     
Shares sold 69,709,805 80,095,292 $800,271,011 $947,863,380 
Reinvestment of distributions 8,752,663 4,987,171 101,131,805 52,675,678 
Shares redeemed (26,451,258) (8,983,925) (300,989,378) (103,494,973) 
Net increase (decrease) 52,011,210 76,098,538 $600,413,438 $897,044,085 
Fidelity Freedom 2055 Fund     
Fidelity Freedom 2055 Fund     
Shares sold 49,395,268 53,445,059 $643,035,222 $709,023,239 
Reinvestment of distributions 7,798,392 6,462,035 102,625,840 80,509,228 
Shares redeemed (34,001,316) (38,484,032) (442,574,631) (514,580,553) 
Net increase (decrease) 23,192,344 21,423,062 $303,086,431 $274,951,914 
Class K     
Shares sold 98,294,050 98,682,302 $1,279,899,187 $1,305,321,274 
Reinvestment of distributions 16,294,147 14,422,538 214,235,276 178,822,212 
Shares redeemed (81,781,810) (91,913,657) (1,071,944,342) (1,217,064,799) 
Net increase (decrease) 32,806,387 21,191,183 $422,190,121 $267,078,687 
Class K6     
Shares sold 35,389,462 33,803,827 $461,897,087 $452,490,356 
Reinvestment of distributions 3,484,682 1,656,647 45,948,865 19,867,662 
Shares redeemed (12,065,028) (3,933,170) (157,096,769) (51,403,131) 
Net increase (decrease) 26,809,116 31,527,304 $350,749,183 $420,954,887 
Fidelity Freedom 2060 Fund     
Fidelity Freedom 2060 Fund     
Shares sold 24,715,754 20,107,238 $289,885,103 $237,700,369 
Reinvestment of distributions 2,154,814 1,350,122 25,699,575 14,977,346 
Shares redeemed (12,415,399) (10,024,630) (146,323,853) (119,574,619) 
Net increase (decrease) 14,455,169 11,432,730 $169,260,825 $133,103,096 
Class K     
Shares sold 52,717,569 43,960,200 $617,142,995 $518,763,344 
Reinvestment of distributions 4,733,025 3,063,146 56,366,020 33,767,760 
Shares redeemed (29,579,858) (25,243,734) (350,106,972) (298,055,315) 
Net increase (decrease) 27,870,736 21,779,612 $323,402,043 $254,475,789 
Class K6     
Shares sold 15,209,903 10,340,589 $178,501,702 $122,533,903 
Reinvestment of distributions 1,003,574 354,539 12,011,519 3,803,581 
Shares redeemed (4,429,681) (1,270,778) (52,024,437) (14,790,330) 
Net increase (decrease) 11,783,796 9,424,350 $138,488,784 $111,547,154 
Fidelity Freedom 2065 Fund(a)     
Fidelity Freedom 2065 Fund     
Shares sold 1,748,380 – $17,740,722 $– 
Reinvestment of distributions 8,870 – 95,175 – 
Shares redeemed (192,386) – (1,889,544) – 
Net increase (decrease) 1,564,864 – $15,946,353 $– 
Class K     
Shares sold 3,185,241 – $31,981,556 $– 
Reinvestment of distributions 11,588 – 124,339 – 
Shares redeemed (804,272) – (8,000,885) – 
Net increase (decrease) 2,392,557 – $24,105,010 $– 
Class K6     
Shares sold 770,120 – $7,618,052 $– 
Reinvestment of distributions 4,004 – 43,007 – 
Shares redeemed (59,599) – (544,461) – 
Net increase (decrease) 714,525 – $7,116,598 $– 

 (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 the Underlying 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 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 Underlying 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 14% 13% 14% 
Fidelity Series Investment Grade Bond Fund 19% 18% 18% 
Fidelity Series All-Sector Equity Fund 10% 14% 13% 14% 
Fidelity Series Emerging Markets Opportunities Fund 11% 15% 12% 13% 
Fidelity Series Inflation-Protected Bond Index Fund 14% 14% 13% 
Fidelity Series High Income Fund 11% 12% 14% 10% 10% 
Fidelity Series Floating Rate High Income Fund 11% 12% 14% 
Fidelity Series Real Estate Income Fund 12% 12% 15% 10% 10% 
Fidelity Series Commodity Strategy Fund 11% 12% 15% 
Fidelity Series International Growth Fund 11% 15% 12% 13% 
Fidelity Series International Value Fund 11% 15% 12% 13% 
Fidelity Series International Small Cap Fund 11% 15% 12% 13% 
Fidelity Series Emerging Markets Debt Fund 11% 12% 14% 10% 
Fidelity Series Value Discovery Fund 17% 12% 13% 
Fidelity Series Intrinsic Opportunities Fund 12% 14% 14% 16% 10% 
Fidelity Series Large Cap Stock Fund 14% 12% 14% 
Fidelity Series Opportunistic Insights Fund 10% 15% 13% 14% 
Fidelity Series Stock Selector Large Cap Value Fund 10% 16% 13% 14% 
Fidelity Series Growth Company Fund 12% 15% 15% 16% 10% 
Fidelity Series Blue Chip Growth Fund 11% 13% 13% 15% 
Fidelity Series Large Cap Value Index Fund 16% 12% 13% 
Fidelity Series Small Cap Discovery Fund 11% 17% 14% 16% 10% 
Fidelity Series Short-Term Credit Fund 18% 12% 
Fidelity Series Government Money Market Fund 16% 12% 
Fidelity Series Long-Term Treasury Bond Index Fund 11% 
Fidelity Series International Credit Fund 18% 15% 15% 
Fidelity Series Canada Fund 11% 15% 12% 13% 
Fidelity Series Emerging Markets Fund 11% 15% 12% 13% 
Fidelity Series Overseas Fund 11% 15% 12% 13% 

The Funds, in aggregate, were the owners of record of more than 20% of the total outstanding shares of the following Underlying Funds.

Fund % of shares held 
Fidelity Series Small Cap Opportunities Fund 83% 
Fidelity Series Investment Grade Bond Fund 78% 
Fidelity Series All-Sector Equity Fund 84% 
Fidelity Series Emerging Markets Opportunities Fund 85% 
Fidelity Series Inflation-Protected Bond Index Fund 67% 
Fidelity Series High Income Fund 82% 
Fidelity Series Floating Rate High Income Fund 81% 
Fidelity Series Real Estate Income Fund 83% 
Fidelity Series Commodity Strategy Fund 82% 
Fidelity Series International Growth Fund 86% 
Fidelity Series International Value Fund 86% 
Fidelity Series International Small Cap Fund 86% 
Fidelity Series Emerging Markets Debt Fund 82% 
Fidelity Series Value Discovery Fund 80% 
Fidelity Series Intrinsic Opportunities Fund 96% 
Fidelity Series Large Cap Stock Fund 82% 
Fidelity Series Opportunistic Insights Fund 84% 
Fidelity Series Stock Selector Large Cap Value Fund 86% 
Fidelity Series Growth Company Fund 96% 
Fidelity Series Blue Chip Growth Fund 89% 
Fidelity Series Large Cap Value Index Fund 77% 
Fidelity Series Small Cap Discovery Fund 96% 
Fidelity Series Short-Term Credit Fund 63% 
Fidelity Series Government Money Market Fund 70% 
Fidelity Series Long-Term Treasury Bond Index Fund 64% 
Fidelity Series International Credit Fund 91% 
Fidelity Series Canada Fund 84% 
Fidelity Series Emerging Markets Fund 85% 
Fidelity Series Overseas Fund 86% 

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, 2020, 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, 2020, 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, 2020 For the years ended March 31, 2020 and 2019 For each of the periods indicated therein 
Fidelity Freedom 2005 Fund For the year ended March 31, 2020 For the years ended March 31, 2020 and 2019 For each of the periods indicated therein 
Fidelity Freedom 2010 Fund For the year ended March 31, 2020 For the years ended March 31, 2020 and 2019 For each of the periods indicated therein 
Fidelity Freedom 2015 Fund For the year ended March 31, 2020 For the years ended March 31, 2020 and 2019 For each of the periods indicated therein 
Fidelity Freedom 2020 Fund For the year ended March 31, 2020 For the years ended March 31, 2020 and 2019 For each of the periods indicated therein 
Fidelity Freedom 2025 Fund For the year ended March 31, 2020 For the years ended March 31, 2020 and 2019 For each of the periods indicated therein 
Fidelity Freedom 2030 Fund For the year ended March 31, 2020 For the years ended March 31, 2020 and 2019 For each of the periods indicated therein 
Fidelity Freedom 2035 Fund For the year ended March 31, 2020 For the years ended March 31, 2020 and 2019 For each of the periods indicated therein 
Fidelity Freedom 2040 Fund For the year ended March 31, 2020 For the years ended March 31, 2020 and 2019 For each of the periods indicated therein 
Fidelity Freedom 2045 Fund For the year ended March 31, 2020 For the years ended March 31, 2020 and 2019 For each of the periods indicated therein 
Fidelity Freedom 2050 Fund For the year ended March 31, 2020 For the years ended March 31, 2020 and 2019 For each of the periods indicated therein 
Fidelity Freedom 2055 Fund For the year ended March 31, 2020 For the years ended March 31, 2020 and 2019 For each of the periods indicated therein 
Fidelity Freedom 2060 Fund For the year ended March 31, 2020 For the years ended March 31, 2020 and 2019 For each of the periods indicated therein 
Fidelity Freedom 2065 Fund For the period June 28, 2019 (commencement of operations) to March 31, 2020 For the period June 28, 2019 (commencement of operations) to March 31, 2020 For 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, 2020 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.

PricewaterhouseCoopers LLP

Boston, Massachusetts

May 12, 2020



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 279 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. 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 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 Executive Vice President and Chief Investment Officer of Bank of America Corporation. Earlier roles at Bank of America included Director of Research, Senior Portfolio Manager for various institutional equity accounts and mutual funds and Portfolio Manager for a number of institutional fixed-income clients. Mr. Kenneally 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. Mr. Murray currently serves as Vice Chairman of Meijer, Inc. (regional retail chain, 2013-present). Previously, Mr. Murray served as Co-Chief Executive Officer (2013-2016) and President (2006-2013) of Meijer, Inc. Mr. Murray serves as a member of the Board and Nuclear Review and Public Policy and Responsibility Committees of DTE Energy Company (diversified energy company, 2009-present) and 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 previously served as a member of the Board of Spectrum Health (not-for-profit health system, 2015-2019). 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

Elizabeth Paige Baumann (1968)

Year of Election or Appointment: 2017

Anti-Money Laundering (AML) Officer

Ms. Baumann also serves as AML Officer of other funds. She is Chief AML Officer (2012-present) and Senior Vice President (2014-present) of FMR LLC (diversified financial services company) and is an employee of Fidelity Investments. Previously, Ms. Baumann served as AML Officer of certain funds (2017-2019), as AML Officer of the funds (2012-2016), and Vice President (2007-2014) and Deputy Anti-Money Laundering Officer (2007-2012) of FMR LLC.

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).

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). 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).

John B. McGinty, Jr. (1962)

Year of Election or Appointment: 2016

Chief Compliance Officer

Mr. McGinty also serves as Chief Compliance Officer of other funds. Mr. McGinty is Senior Vice President of Asset Management Compliance for Fidelity Investments and is an employee of Fidelity Investments (2016-present). Previously, Mr. McGinty served as Chief Compliance Officer of The North Carolina Capital Management Trust: Cash Portfolio and Term Portfolio (2019). Prior to joining Fidelity Investments, Mr. McGinty served as Vice President, Senior Attorney at Eaton Vance Management (investment management firm, 2015-2016), and prior to Eaton Vance as global CCO for all firm operations and registered investment companies at GMO LLC (investment management firm, 2009-2015). Before joining GMO LLC, Mr. McGinty served as Senior Vice President, Deputy General Counsel for Fidelity Investments (2007-2009).

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2015

Assistant Secretary

Mr. Pogorelec also serves as Assistant Secretary of other funds. Mr. Pogorelec serves as Vice President, Associate General Counsel (2010-present) and is an employee of Fidelity Investments (2006-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 and Chief Investment Officer of Global Asset Allocation and is an employee of Fidelity Investments (2018-present). 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, 2013-2018).

Shareholder Expense Example

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs and (2) ongoing costs, including other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds 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, 2019 to March 31, 2020).

Actual Expenses

The first line of the accompanying table for each Class of each fund 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 of the fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. In addition, each Fund, as a shareholder in underlying Fidelity Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Funds. These fees and expenses are not included in each Fund's annualized expense ratio used to calculate the expense estimates in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each Class of each fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' 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. In addition, each Fund, as a shareholder in underlying Fidelity Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Funds. These fees and expenses are not included in each Fund's annualized expense ratio used to calculate the expense estimates 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, 2019 
Ending
Account Value
March 31, 2020 
Expenses Paid
During Period-B
October 1, 2019
to March 31, 2020 
Fidelity Freedom Income Fund     
Fidelity Freedom Income Fund .47%    
Actual  $1,000.00 $975.00 $2.32 
Hypothetical-C  $1,000.00 $1,022.65 $2.38 
Class K .41%    
Actual  $1,000.00 $975.30 $2.02 
Hypothetical-C  $1,000.00 $1,022.95 $2.07 
Class K6 .37%    
Actual  $1,000.00 $975.70 $1.83 
Hypothetical-C  $1,000.00 $1,023.15 $1.87 
Fidelity Freedom 2005 Fund     
Fidelity Freedom 2005 Fund .47%    
Actual  $1,000.00 $966.10 $2.31 
Hypothetical-C  $1,000.00 $1,022.65 $2.38 
Class K .42%    
Actual  $1,000.00 $966.50 $2.06 
Hypothetical-C  $1,000.00 $1,022.90 $2.12 
Class K6 .37%    
Actual  $1,000.00 $967.30 $1.82 
Hypothetical-C  $1,000.00 $1,023.15 $1.87 
Fidelity Freedom 2010 Fund     
Fidelity Freedom 2010 Fund .52%    
Actual  $1,000.00 $953.00 $2.54 
Hypothetical-C  $1,000.00 $1,022.40 $2.63 
Class K .45%    
Actual  $1,000.00 $953.20 $2.20 
Hypothetical-C  $1,000.00 $1,022.75 $2.28 
Class K6 .39%    
Actual  $1,000.00 $953.50 $1.90 
Hypothetical-C  $1,000.00 $1,023.05 $1.97 
Fidelity Freedom 2015 Fund     
Fidelity Freedom 2015 Fund .56%    
Actual  $1,000.00 $938.90 $2.71 
Hypothetical-C  $1,000.00 $1,022.20 $2.83 
Class K .49%    
Actual  $1,000.00 $939.30 $2.38 
Hypothetical-C  $1,000.00 $1,022.55 $2.48 
Class K6 .41%    
Actual  $1,000.00 $939.50 $1.99 
Hypothetical-C  $1,000.00 $1,022.95 $2.07 
Fidelity Freedom 2020 Fund     
Fidelity Freedom 2020 Fund .60%    
Actual  $1,000.00 $926.20 $2.89 
Hypothetical-C  $1,000.00 $1,022.00 $3.03 
Class K .52%    
Actual  $1,000.00 $927.10 $2.51 
Hypothetical-C  $1,000.00 $1,022.40 $2.63 
Class K6 .43%    
Actual  $1,000.00 $926.90 $2.07 
Hypothetical-C  $1,000.00 $1,022.85 $2.17 
Fidelity Freedom 2025 Fund     
Fidelity Freedom 2025 Fund .65%    
Actual  $1,000.00 $916.60 $3.11 
Hypothetical-C  $1,000.00 $1,021.75 $3.29 
Class K .56%    
Actual  $1,000.00 $917.00 $2.68 
Hypothetical-C  $1,000.00 $1,022.20 $2.83 
Class K6 .45%    
Actual  $1,000.00 $917.30 $2.16 
Hypothetical-C  $1,000.00 $1,022.75 $2.28 
Fidelity Freedom 2030 Fund     
Fidelity Freedom 2030 Fund .69%    
Actual  $1,000.00 $902.60 $3.28 
Hypothetical-C  $1,000.00 $1,021.55 $3.49 
Class K .60%    
Actual  $1,000.00 $903.00 $2.85 
Hypothetical-C  $1,000.00 $1,022.00 $3.03 
Class K6 .47%    
Actual  $1,000.00 $903.60 $2.24 
Hypothetical-C  $1,000.00 $1,022.65 $2.38 
Fidelity Freedom 2035 Fund     
Fidelity Freedom 2035 Fund .73%    
Actual  $1,000.00 $880.50 $3.43 
Hypothetical-C  $1,000.00 $1,021.35 $3.69 
Class K .63%    
Actual  $1,000.00 $880.90 $2.96 
Hypothetical-C  $1,000.00 $1,021.85 $3.18 
Class K6 .49%    
Actual  $1,000.00 $881.40 $2.30 
Hypothetical-C  $1,000.00 $1,022.55 $2.48 
Fidelity Freedom 2040 Fund     
Fidelity Freedom 2040 Fund .75%    
Actual  $1,000.00 $869.20 $3.50 
Hypothetical-C  $1,000.00 $1,021.25 $3.79 
Class K .64%    
Actual  $1,000.00 $868.70 $2.99 
Hypothetical-C  $1,000.00 $1,021.80 $3.23 
Class K6 .49%    
Actual  $1,000.00 $869.80 $2.29 
Hypothetical-C  $1,000.00 $1,022.55 $2.48 
Fidelity Freedom 2045 Fund     
Fidelity Freedom 2045 Fund .75%    
Actual  $1,000.00 $868.60 $3.50 
Hypothetical-C  $1,000.00 $1,021.25 $3.79 
Class K .64%    
Actual  $1,000.00 $869.10 $2.99 
Hypothetical-C  $1,000.00 $1,021.80 $3.23 
Class K6 .49%    
Actual  $1,000.00 $870.10 $2.29 
Hypothetical-C  $1,000.00 $1,022.55 $2.48 
Fidelity Freedom 2050 Fund     
Fidelity Freedom 2050 Fund .75%    
Actual  $1,000.00 $868.90 $3.50 
Hypothetical-C  $1,000.00 $1,021.25 $3.79 
Class K .64%    
Actual  $1,000.00 $869.30 $2.99 
Hypothetical-C  $1,000.00 $1,021.80 $3.23 
Class K6 .49%    
Actual  $1,000.00 $870.50 $2.29 
Hypothetical-C  $1,000.00 $1,022.55 $2.48 
Fidelity Freedom 2055 Fund     
Fidelity Freedom 2055 Fund .75%    
Actual  $1,000.00 $868.40 $3.50 
Hypothetical-C  $1,000.00 $1,021.25 $3.79 
Class K .64%    
Actual  $1,000.00 $869.70 $2.99 
Hypothetical-C  $1,000.00 $1,021.80 $3.23 
Class K6 .49%    
Actual  $1,000.00 $869.40 $2.29 
Hypothetical-C  $1,000.00 $1,022.55 $2.48 
Fidelity Freedom 2060 Fund     
Fidelity Freedom 2060 Fund .75%    
Actual  $1,000.00 $868.90 $3.50 
Hypothetical-C  $1,000.00 $1,021.25 $3.79 
Class K .65%    
Actual  $1,000.00 $869.30 $3.04 
Hypothetical-C  $1,000.00 $1,021.75 $3.29 
Class K6 .50%    
Actual  $1,000.00 $869.70 $2.34 
Hypothetical-C  $1,000.00 $1,022.50 $2.53 
Fidelity Freedom 2065 Fund     
Fidelity Freedom 2065 Fund .75%    
Actual  $1,000.00 $868.30 $3.50 
Hypothetical-C  $1,000.00 $1,021.25 $3.79 
Class K .65%    
Actual  $1,000.00 $868.00 $3.04 
Hypothetical-C  $1,000.00 $1,021.75 $3.29 
Class K6 .50%    
Actual  $1,000.00 $869.20 $2.34 
Hypothetical-C  $1,000.00 $1,022.50 $2.53 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/ 366 (to reflect the one-half year period). The fees and expenses of the underlying Fidelity Funds in which each Fund invests are not included in each Fund's 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 05/11/2020 05/08/2020 $0.000 $0.146 
Class K 05/11/2020 05/08/2020 $0.000 $0.146 
Class K6 05/11/2020 05/08/2020 $0.000 $0.146 
Fidelity Freedom 2005 Fund     
Fidelity Freedom 2005 Fund 05/11/2020 05/08/2020 $0.032 $0.166 
Class K 05/11/2020 05/08/2020 $0.035 $0.166 
Class K6 05/11/2020 05/08/2020 $0.036 $0.166 
Fidelity Freedom 2010 Fund     
Fidelity Freedom 2010 Fund 05/11/2020 05/08/2020 $0.034 $0.335 
Class K 05/11/2020 05/08/2020 $0.036 $0.335 
Class K6 05/11/2020 05/08/2020 $0.040 $0.335 
Fidelity Freedom 2015 Fund     
Fidelity Freedom 2015 Fund 05/11/2020 05/08/2020 $0.021 $0.347 
Class K 05/11/2020 05/08/2020 $0.023 $0.347 
Class K6 05/11/2020 05/08/2020 $0.027 $0.347 
Fidelity Freedom 2020 Fund     
Fidelity Freedom 2020 Fund 05/11/2020 05/08/2020 $0.019 $0.435 
Class K 05/11/2020 05/08/2020 $0.022 $0.435 
Class K6 05/11/2020 05/08/2020 $0.026 $0.435 
Fidelity Freedom 2025 Fund     
Fidelity Freedom 2025 Fund 05/11/2020 05/08/2020 $0.010 $0.318 
Class K 05/11/2020 05/08/2020 $0.013 $0.318 
Class K6 05/11/2020 05/08/2020 $0.018 $0.318 
Fidelity Freedom 2030 Fund     
Fidelity Freedom 2030 Fund 05/11/2020 05/08/2020 $0.004 $0.459 
Class K 05/11/2020 05/08/2020 $0.007 $0.459 
Class K6 05/11/2020 05/08/2020 $0.014 $0.459 
Fidelity Freedom 2035 Fund     
Fidelity Freedom 2035 Fund 05/11/2020 05/08/2020 $0.000 $0.394 
Class K 05/11/2020 05/08/2020 $0.000 $0.397 
Class K6 05/11/2020 05/08/2020 $0.000 $0.403 
Fidelity Freedom 2040 Fund     
Fidelity Freedom 2040 Fund 05/11/2020 05/08/2020 $0.000 $0.280 
Class K 05/11/2020 05/08/2020 $0.000 $0.282 
Class K6 05/11/2020 05/08/2020 $0.000 $0.287 
Fidelity Freedom 2045 Fund     
Fidelity Freedom 2045 Fund 05/11/2020 05/08/2020 $0.000 $0.299 
Class K 05/11/2020 05/08/2020 $0.000 $0.302 
Class K6 05/11/2020 05/08/2020 $0.000 $0.308 
Fidelity Freedom 2050 Fund     
Fidelity Freedom 2050 Fund 05/11/2020 05/08/2020 $0.000 $0.302 
Class K 05/11/2020 05/08/2020 $0.000 $0.302 
Class K6 05/11/2020 05/08/2020 $0.000 $0.304 
Fidelity Freedom 2055 Fund     
Fidelity Freedom 2055 Fund 05/11/2020 05/08/2020 $0.000 $0.317 
Class K 05/11/2020 05/08/2020 $0.000 $0.317 
Class K6 05/11/2020 05/08/2020 $0.000 $0.317 
Fidelity Freedom 2060 Fund     
Fidelity Freedom 2060 Fund 05/11/2020 05/08/2020 $0.000 $0.260 
Class K 05/11/2020 05/08/2020 $0.000 $0.263 
Class K6 05/11/2020 05/08/2020 $0.000 $0.267 
Fidelity Freedom 2065 Fund     
Fidelity Freedom 2065 Fund 05/11/2020 05/08/2020 $0.000 $0.062 
Class K 05/11/2020 05/08/2020 $0.000 $0.065 
Class K6 05/11/2020 05/08/2020 $0.000 $0.068 

     

The funds hereby designate as capital gain dividend the amounts noted below for the taxable year ended March 31, 2020, or, if subsequently determined to be different, the net capital gain of such year.

Fidelity Freedom Income Fund $61,586,193 
Fidelity Freedom 2005 Fund $22,216,211 
Fidelity Freedom 2010 Fund $212,565,755 
Fidelity Freedom 2015 Fund $396,574,078 
Fidelity Freedom 2020 Fund $1,152,537,614 
Fidelity Freedom 2025 Fund $985,598,546 
Fidelity Freedom 2030 Fund $1,380,592,229 
Fidelity Freedom 2035 Fund $930,507,466 
Fidelity Freedom 2040 Fund $871,462,504 
Fidelity Freedom 2045 Fund $536,887,160 
Fidelity Freedom 2050 Fund $468,517,770 
Fidelity Freedom 2055 Fund $208,404,544 
Fidelity Freedom 2060 Fund $60,869,424 
Fidelity Freedom 2065 Fund $372,202 

  

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 27.79% 
Fidelity Freedom 2005 Fund 24.03% 
Fidelity Freedom 2010 Fund 19.88% 
Fidelity Freedom 2015 Fund 16.49% 
Fidelity Freedom 2020 Fund 13.94% 
Fidelity Freedom 2025 Fund 12.35% 
Fidelity Freedom 2030 Fund 10.26% 
Fidelity Freedom 2035 Fund 6.84% 
Fidelity Freedom 2040 Fund 4.96% 
Fidelity Freedom 2045 Fund 4.77% 
Fidelity Freedom 2050 Fund 4.76% 
Fidelity Freedom 2055 Fund 5.39% 
Fidelity Freedom 2060 Fund 5.54% 
Fidelity Freedom 2065 Fund 5.10% 

  

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 2019 0% 0% 0% 
May 2019 5% 4% 4% 
June 2019 5% 5% 5% 
July 2019 5% 5% 5% 
August 2019 5% 5% 5% 
September 2019 5% 5% 5% 
October 2019 5% 5% 5% 
November 2019 5% 5% 5% 
December 2019 5% 5% 5% 
February 2020 1% 1% 1% 
March 2020 1% 1% 1% 
Fidelity Freedom 2005 Fund    
May 2019 1% 1% 1% 
December 2019 8% 8% 7% 
Fidelity Freedom 2010 Fund    
May 2019 1% 1% 1% 
December 2019 11% 11% 11% 
Fidelity Freedom 2015 Fund    
May 2019 2% 2% 2% 
December 2019 15% 15% 14% 
Fidelity Freedom 2020 Fund    
May 2019 2% 2% 2% 
December 2019 18% 18% 17% 
Fidelity Freedom 2025 Fund    
May 2019 4% 3% 3% 
December 2019 21% 21% 20% 
Fidelity Freedom 2030 Fund    
May 2019 8% 7% 5% 
December 2019 26% 25% 24% 
Fidelity Freedom 2035 Fund    
May 2019 55% 27% 12% 
December 2019 34% 33% 30% 
Fidelity Freedom 2040 Fund    
May 2019 61% 40% 13% 
December 2019 37% 36% 33% 
Fidelity Freedom 2045 Fund    
May 2019 27% 23% 12% 
December 2019 40% 38% 35% 
Fidelity Freedom 2050 Fund    
May 2019 26% 19% 11% 
December 2019 40% 38% 35% 
Fidelity Freedom 2055 Fund    
May 2019 21% 16% 8% 
December 2019 39% 38% 35% 
Fidelity Freedom 2060 Fund    
May 2019 42% 25% 12% 
December 2019 37% 36% 33% 
Fidelity Freedom 2065 Fund    
December 2019 29% 27% 27% 

    

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 2019 0% 0% 0% 
May 2019 15% 14% 13% 
June 2019 17% 16% 16% 
July 2019 17% 16% 16% 
August 2019 17% 17% 16% 
September 2019 17% 16% 16% 
October 2019 17% 17% 16% 
November 2019 17% 16% 16% 
December 2019 17% 16% 16% 
February 2020 2% 2% 2% 
March 2020 2% 2% 2% 
Fidelity Freedom 2005 Fund    
May 2019 2% 2% 2% 
December 2019 22% 22% 21% 
Fidelity Freedom 2010 Fund    
May 2019 3% 3% 3% 
December 2019 30% 29% 28% 
Fidelity Freedom 2015 Fund    
May 2019 5% 4% 4% 
December 2019 37% 36% 35% 
Fidelity Freedom 2020 Fund    
May 2019 4% 4% 4% 
December 2019 43% 42% 40% 
Fidelity Freedom 2025 Fund    
May 2019 7% 6% 5% 
December 2019 51% 49% 46% 
Fidelity Freedom 2030 Fund    
May 2019 16% 13% 10% 
December 2019 61% 59% 55% 
Fidelity Freedom 2035 Fund    
May 2019 81% 41% 18% 
December 2019 77% 74% 68% 
Fidelity Freedom 2040 Fund    
May 2019 100% 74% 25% 
December 2019 84% 81% 75% 
Fidelity Freedom 2045 Fund    
May 2019 49% 42% 21% 
December 2019 91% 87% 80% 
Fidelity Freedom 2050 Fund    
May 2019 45% 34% 20% 
December 2019 90% 87% 80% 
Fidelity Freedom 2055 Fund    
May 2019 38% 29% 15% 
December 2019 90% 86% 79% 
Fidelity Freedom 2060 Fund    
May 2019 78% 47% 22% 
December 2019 85% 82% 75% 
Fidelity Freedom 2065 Fund    
December 2019 76% 72% 71% 

    

A percentage of the dividends distributed during the prior fiscal year for the following funds qualify as a section 199A dividend:

 Retail Class K Class K6 
Fidelity Freedom Income Fund    
February 2019 2% 2% 1% 

March 2019 2% 2% 2% 

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 2019 0% 0% 0% 
May 2019 1% 1% 1% 
June 2019 1% 1% 1% 
July 2019 1% 1% 1% 
August 2019 1% 1% 1% 
September 2019 1% 1% 1% 
October 2019 1% 1% 1% 
November 2019 1% 1% 1% 
December 2019 1% 1% 1% 
February 2020 1% 1% 1% 
March 2020 1% 1% 1% 
Fidelity Freedom 2005 Fund    
May 2019 1% 1% 1% 
December 2019 1% 1% 1% 
Fidelity Freedom 2010 Fund    
May 2019 1% 1% 1% 
December 2019 2% 2% 1% 
Fidelity Freedom 2015 Fund    
May 2019 2% 2% 2% 
December 2019 2% 2% 2% 
Fidelity Freedom 2020 Fund    
May 2019 2% 2% 2% 
December 2019 2% 2% 2% 
Fidelity Freedom 2025 Fund    
May 2019 2% 2% 2% 
December 2019 2% 2% 2% 
Fidelity Freedom 2030 Fund    
May 2019 4% 3% 2% 
December 2019 2% 2% 2% 
Fidelity Freedom 2035 Fund    
May 2019 18% 9% 4% 
December 2019 2% 2% 2% 
Fidelity Freedom 2040 Fund    
May 2019 0% 20% 7% 
December 2019 3% 2% 2% 
Fidelity Freedom 2045 Fund    
May 2019 8% 7% 4% 
December 2019 3% 3% 2% 
Fidelity Freedom 2050 Fund    
May 2019 7% 6% 3% 
December 2019 3% 3% 2% 
Fidelity Freedom 2055 Fund    
May 2019 8% 6% 3% 
December 2019 3% 3% 2% 
Fidelity Freedom 2060 Fund    
May 2019 2% 1% 1% 
December 2019 3% 3% 2% 
Fidelity Freedom 2065 Fund    
December 2019 3% 3% 3% 

    

The funds will notify shareholders in January 2021 of amounts for use in preparing 2020 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, 2018 through November 30, 2019. 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.





Fidelity Investments

FF-ANN-0520
1.702316.122




Fidelity Advisor Freedom® Funds - Income, 2005, 2010, 2015, 2020, 2025, 2030, 2035, 2040, 2045, 2050, 2055, 2060, 2065



Annual Report

March 31, 2020

Fidelity Investments
See the inside front cover for important information about access to your fund’s shareholder reports.


Fidelity Investments

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary, such as a financial advisor, broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a fund electronically, by contacting your financial intermediary. For Fidelity customers, visit Fidelity's web site or call Fidelity using the contact information listed below.

You may elect to receive all future reports in paper free of charge. If you wish to continue receiving paper copies of your shareholder reports, you may contact your financial intermediary or, if you are a Fidelity customer, visit Fidelity’s website, or call Fidelity at the applicable toll-free number listed below. Your election to receive reports in paper will apply to all funds held with the fund complex/your financial intermediary.

Account Type Website Phone Number 
Brokerage, Mutual Fund, or Annuity Contracts: fidelity.com/mailpreferences 1-800-343-3548 
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Contents

Note to Shareholders

Performance

Management's Discussion of Fund Performance

Fidelity Advisor Freedom® Income Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Advisor Freedom® 2005 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Advisor Freedom® 2010 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Advisor Freedom® 2015 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Advisor Freedom® 2020 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Advisor Freedom® 2025 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Advisor Freedom® 2030 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Advisor Freedom® 2035 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Advisor Freedom® 2040 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Advisor Freedom® 2045 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Advisor Freedom® 2050 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Advisor Freedom® 2055 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Advisor Freedom® 2060 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Advisor Freedom® 2065 Fund

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Report of Independent Registered Public Accounting Firm

Trustees and Officers

Shareholder Expense Example

Distributions

Liquidity Risk Management Program


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. © 2020 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:
(No Action is Required by You)

As part of a regular review of its organizational structure, Fidelity has decided to merge certain entities to streamline operations, increase efficiency, simplify reporting, and reduce legal, compliance, and accounting complexity and costs. In separate events, Fidelity has merged four of its investment advisers and two of its broker-dealers.

Effective on or about January 1, 2020, following any required regulatory notices and approvals:

Investment advisers Fidelity Investments Money Management, Inc., FMR Co., Inc., and Fidelity SelectCo, LLC, merged with and into Fidelity Management & Research Company. In connection with the merger transactions, the resulting, merged investment adviser was then redomiciled from Massachusetts to Delaware, changed its corporate structure from a corporation to a limited liability company, and changed its name to “Fidelity Management & Research Company LLC”.

Broker-dealer Fidelity Distributors Corporation merged with and into Fidelity Investments Institutional Services Company, Inc. (“FIISC”). FIISC was then redomiciled from Massachusetts to Delaware, changed its corporate structure from a corporation to a limited liability company, and changed its name to “Fidelity Distributors Company LLC”.

These mergers are not expected to affect fund shareholders or Fidelity clients, nor are they expected to result in any changes to the day-to-day management of Fidelity’s brokerage services, the Fidelity funds, their investment policies and practices, their portfolio management teams, or the funds’ expenses.

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 corporate earnings. The virus causes a respiratory disease known as COVID-19. On March 11, 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, the U.S. government took unprecedented action – in concert with the U.S. Federal Reserve and central banks around the world – to help support consumers, businesses, and the broader economy, and to limit disruption to the financial system.

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, 2020 Past 1 year Past 5 years Past 10 years 
Class A (incl. 5.75% sales charge) (4.77)% 1.52% 2.97% 
Class M (incl. 3.50% sales charge) (2.63)% 1.75% 2.96% 
Class C (incl. contingent deferred sales charge) (0.68)% 1.97% 2.82% 
Class I 1.30% 2.98% 3.84% 
Class Z 1.36% 3.01% 3.85% 
Class Z6 1.38% 3.04% 3.87% 

 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. 

 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. 

 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. 

$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, 2010, 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

$13,406Fidelity Advisor Freedom® Income Fund - Class A

$14,639Bloomberg 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, 2020 Past 1 year Past 5 years Past 10 years 
Class A (incl. 5.75% sales charge) (5.71)% 1.83% 3.84% 
Class M (incl. 3.50% sales charge) (3.80)% 2.05% 3.82% 
Class C (incl. contingent deferred sales charge) (1.66)% 2.27% 3.67% 
Class I 0.21% 3.28% 4.71% 
Class Z 0.32% 3.31% 4.72% 
Class Z6 0.35% 3.35% 4.74% 

 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. 

 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. 

 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. 

$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, 2010, 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

$14,573Fidelity Advisor Freedom® 2005 Fund - Class A

$14,639Bloomberg 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, 2020 Past 1 year Past 5 years Past 10 years 
Class A (incl. 5.75% sales charge) (7.06)% 1.95% 4.44% 
Class M (incl. 3.50% sales charge) (5.07)% 2.19% 4.43% 
Class C (incl. contingent deferred sales charge) (2.96)% 2.41% 4.27% 
Class I (1.04)% 3.44% 5.33% 
Class Z (1.05)% 3.44% 5.33% 
Class Z6 (1.01)% 3.52% 5.36% 

 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. 

 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. 

 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. 

$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, 2010, 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

$15,435Fidelity Advisor Freedom® 2010 Fund - Class A

$14,639Bloomberg 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, 2020 Past 1 year Past 5 years Past 10 years 
Class A (incl. 5.75% sales charge) (8.36)% 2.06% 4.63% 
Class M (incl. 3.50% sales charge) (6.39)% 2.29% 4.62% 
Class C (incl. contingent deferred sales charge) (4.39)% 2.52% 4.47% 
Class I (2.50)% 3.55% 5.53% 
Class Z (2.48)% 3.57% 5.54% 
Class Z6 (2.40)% 3.64% 5.57% 

 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. 

 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. 

 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. 

$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, 2010, 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

$15,729Fidelity Advisor Freedom® 2015 Fund - Class A

$14,639Bloomberg 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, 2020 Past 1 year Past 5 years Past 10 years 
Class A (incl. 5.75% sales charge) (9.66)% 2.05% 4.86% 
Class M (incl. 3.50% sales charge) (7.73)% 2.27% 4.84% 
Class C (incl. contingent deferred sales charge) (5.70)% 2.49% 4.70% 
Class I (3.87)% 3.52% 5.75% 
Class Z (3.82)% 3.54% 5.76% 
Class Z6 (3.72)% 3.62% 5.80% 

 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. 

 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. 

 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. 

$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, 2010, 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

$16,071Fidelity Advisor Freedom® 2020 Fund - Class A

$27,210S&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, 2020 Past 1 year Past 5 years Past 10 years 
Class A (incl. 5.75% sales charge) (10.55)% 2.06% 5.27% 
Class M (incl. 3.50% sales charge) (8.62)% 2.30% 5.26% 
Class C (incl. contingent deferred sales charge) (6.74)% 2.50% 5.10% 
Class I (4.89)% 3.54% 6.15% 
Class Z (4.77)% 3.57% 6.17% 
Class Z6 (4.72)% 3.66% 6.21% 

 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. 

 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. 

 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. 

$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, 2010, 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

$16,715Fidelity Advisor Freedom® 2025 Fund - Class A

$27,210S&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, 2020 Past 1 year Past 5 years Past 10 years 
Class A (incl. 5.75% sales charge) (11.98)% 2.32% 5.54% 
Class M (incl. 3.50% sales charge) (10.10)% 2.53% 5.53% 
Class C (incl. contingent deferred sales charge) (8.12)% 2.77% 5.38% 
Class I (6.32)% 3.80% 6.45% 
Class Z (6.28)% 3.82% 6.46% 
Class Z6 (6.16)% 3.92% 6.51% 

 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. 

 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. 

 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. 

$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, 2010, 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

$17,152Fidelity Advisor Freedom® 2030 Fund - Class A

$27,210S&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, 2020 Past 1 year Past 5 years Past 10 years 
Class A (incl. 5.75% sales charge) (14.38)% 2.12% 5.67% 
Class M (incl. 3.50% sales charge) (12.53)% 2.36% 5.66% 
Class C (incl. contingent deferred sales charge) (10.68)% 2.58% 5.51% 
Class I (8.91)% 3.60% 6.57% 
Class Z (8.87)% 3.63% 6.59% 
Class Z6 (8.74)% 3.74% 6.64% 

 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. 

 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. 

 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. 

$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, 2010, 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

$17,362Fidelity Advisor Freedom® 2035 Fund - Class A

$27,210S&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, 2020 Past 1 year Past 5 years Past 10 years 
Class A (incl. 5.75% sales charge) (15.73)% 1.82% 5.55% 
Class M (incl. 3.50% sales charge) (13.96)% 2.04% 5.53% 
Class C (incl. contingent deferred sales charge) (12.14)% 2.25% 5.37% 
Class I (10.35)% 3.29% 6.44% 
Class Z (10.31)% 3.33% 6.46% 
Class Z6 (10.24)% 3.42% 6.50% 

 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. 

 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. 

 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. 

$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, 2010, 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

$17,161Fidelity Advisor Freedom® 2040 Fund - Class A

$27,210S&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, 2020 Past 1 year Past 5 years Past 10 years 
Class A (incl. 5.75% sales charge) (15.82)% 1.81% 5.61% 
Class M (incl. 3.50% sales charge) (13.92)% 2.05% 5.60% 
Class C (incl. contingent deferred sales charge) (12.15)% 2.25% 5.45% 
Class I (10.46)% 3.27% 6.50% 
Class Z (10.33)% 3.30% 6.51% 
Class Z6 (10.22)% 3.42% 6.57% 

 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. 

 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. 

 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. 

$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, 2010, 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

$17,254Fidelity Advisor Freedom® 2045 Fund - Class A

$27,210S&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, 2020 Past 1 year Past 5 years Past 10 years 
Class A (incl. 5.75% sales charge) (15.72)% 1.82% 5.62% 
Class M (incl. 3.50% sales charge) (14.00)% 2.04% 5.60% 
Class C (incl. contingent deferred sales charge) (12.15)% 2.25% 5.45% 
Class I (10.37)% 3.28% 6.51% 
Class Z (10.33)% 3.30% 6.52% 
Class Z6 (10.14)% 3.42% 6.58% 

 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. 

 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. 

 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. 

$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, 2010, 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

$17,283Fidelity Advisor Freedom® 2050 Fund - Class A

$27,210S&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, 2020 Past 1 year Past 5 years Life of fundA 
Class A (incl. 5.75% sales charge) (15.71)% 1.81% 4.66% 
Class M (incl. 3.50% sales charge) (13.95)% 2.05% 4.68% 
Class C (incl. contingent deferred sales charge) (12.12)% 2.27% 4.57% 
Class I (10.45)% 3.27% 5.62% 
Class Z (10.28)% 3.32% 5.64% 
Class Z6 (10.22)% 3.41% 5.70% 

 A From June 1, 2011

 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. 

 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. 

$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

$14,952Fidelity Advisor Freedom® 2055 Fund - Class A

$23,650S&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, 2020 Past 1 year Past 5 years Life of fundA 
Class A (incl. 5.75% sales charge) (15.78)% 1.81% 2.52% 
Class M (incl. 3.50% sales charge) (13.98)% 2.03% 2.68% 
Class C (incl. contingent deferred sales charge) (12.11)% 2.25% 2.83% 
Class I (10.38)% 3.30% 3.87% 
Class Z (10.32)% 3.33% 3.89% 
Class Z6 (10.24)% 3.42% 3.98% 

 A From August 5, 2014

 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. 

 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. 

$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

$11,510Fidelity Advisor Freedom® 2060 Fund - Class A

$15,122S&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 Fidelity Advisor Freedom® 2065 Fund will be reported once the fund is a year old.

$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

$8,113Fidelity Advisor Freedom® 2065 Fund - Class A

$8,918S&P 500® Index

Management's Discussion of Fund Performance

Market Recap:  The performance of financial assets during the 12-month period ending March 31, 2020 was significantly influenced by the outbreak and spread of a novel coronavirus in the first quarter of 2020. The outbreak curtailed global economic growth and the outlook for corporate earnings in domestic and foreign markets. Declared a pandemic on March 11, the crisis and containment efforts led to increased uncertainty, broad-based contraction in economic activity, higher volatility, and dislocation in the financial markets as investors digested new information. Against this backdrop, the Dow Jones U.S. Total Stock Market Index had a return of -9.28% for the year. By mid-March, the U.S. stock market entered bear-market territory less than a month after hitting an all-time high. The energy sector (-55%) fared worst, whereas information technology (+7%) stood out as the only sector with a positive return. Consumer staples and health care (-2% each) held up reasonably well. Large-cap stocks outpaced smaller-caps, while growth outpaced value. Elsewhere, commodities generally lagged equities. Non-U.S. equities returned -15.42% for the 12 months, according to the MSCI ACWI (All Country World Index) ex USA Index (Net MA). With the exception of Japan (-6%), all regions within the index experienced a double-digit decline. The U.K. and Asia Pacific ex Japan (-23% each) regions fared worst, while Europe ex U.K. (-12%) outperformed. Sector-wise, notable laggards included energy (-37%), real estate (-25%) and financials (-24%), while health care (+5%) and information technology (+2%) outperformed. Turning to fixed income, U.S. taxable investment-grade bonds (the Bloomberg Barclays U.S. Aggregate Bond Index) advanced 8.93%, as investors generally sought their perceived safety. Within the index, U.S. Treasury bonds led the way (+13%), while others securitized debt categories lagged. Extended (non-core) fixed income classes, such as leveraged loans fared poorly (-10%), as did high-yield bonds (-7%) and emerging-markets debt (-5).

Comments from Co-Portfolio Managers Andrew Dierdorf and Brett Sumsion:  For the fiscal year, the Class I shares of each Fidelity Advisor Freedom® Funds posted a return, ranging from 1.30% for Fidelity Advisor Freedom Income Fund to -10.46% for Fidelity Advisor Freedom 2045 Fund. Each Fund lagged its respective Composite index. Active asset allocation decisions drove the majority of the Funds’ underperformance relative to Composite indexes during the past 12 months. In particular, underweighting investment-grade bonds, which performed relatively well, held back the Funds’ performance versus Composites. Exposure to poor-performing commodities, which are not in the Composite indexes, also hurt, as did an overweighting in non-U.S. equities – one of the weaker-performing asset classes. Meanwhile, underweighting lagging U.S. equities contributed to the Funds’ relative performance. Overweight allocations to inflation-protected securities and short-term securities also helped, as both asset classes had a positive return. Overall, the performance of the underlying investment portfolios modestly contributed to the Funds' relative results. Specifically, investments in underlying non-U.S. developed-markets equity and emerging-markets equity portfolios added value. Here, investments in Fidelity® Series Emerging Markets Fund and Fidelity® Series International Growth Fund were notable contributors, as each outperformed its benchmark. Our investments in U.S. equities also helped, led by a position in Fidelity® Series Opportunistic Insights Fund, which handily outperformance its benchmark. Conversely, our position in Fidelity® Series Investment Grade Bond Fund hurt most, as this portfolio trailed its benchmark.

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, 2020

 % of fund's net assets 
Fidelity Series Investment Grade Bond Fund 38.9 
Fidelity Series Government Money Market Fund 0.4% 21.0 
Fidelity Series Inflation-Protected Bond Index Fund 12.2 
Fidelity Series Short-Term Credit Fund 4.8 
Fidelity Series Emerging Markets Opportunities Fund 3.9 
Fidelity Series Commodity Strategy Fund 3.3 
Fidelity Series Long-Term Treasury Bond Index Fund 2.5 
Fidelity Series International Growth Fund 2.0 
Fidelity Series International Value Fund 1.7 
Fidelity Series Overseas Fund 1.5 
 91.8 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 7.8% 
   International Equity Funds 10.4% 
   Bond Funds 55.5% 
   Short-Term Funds 26.0% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.2% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.55% 5/21/20 to 6/4/20 (a)   
(Cost $149,837) 150,000 149,973 
 Shares Value 
Domestic Equity Funds - 7.8%   
Fidelity Advisor Series Equity Growth Fund (b) 118,349 $1,456,870 
Fidelity Advisor Series Growth Opportunities Fund (b) 61,916 680,454 
Fidelity Advisor Series Small Cap Fund (b) 59,253 496,538 
Fidelity Series All-Sector Equity Fund (b) 78,175 612,895 
Fidelity Series Commodity Strategy Fund (b) 1,943,656 7,094,346 
Fidelity Series Large Cap Stock Fund (b) 148,448 1,779,891 
Fidelity Series Large Cap Value Index Fund (b) 19,727 189,580 
Fidelity Series Opportunistic Insights Fund (b) 92,032 1,409,926 
Fidelity Series Small Cap Opportunities Fund (b) 61,128 620,453 
Fidelity Series Stock Selector Large Cap Value Fund (b) 126,988 1,140,351 
Fidelity Series Value Discovery Fund (b) 113,623 1,128,277 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $18,536,460)  16,609,581 
International Equity Funds - 10.4%   
Fidelity Series Canada Fund (b) 97,462 807,963 
Fidelity Series Emerging Markets Fund (b) 122,967 870,605 
Fidelity Series Emerging Markets Opportunities Fund (b) 532,892 8,297,125 
Fidelity Series International Growth Fund (b) 299,776 4,340,763 
Fidelity Series International Small Cap Fund (b) 77,914 1,041,709 
Fidelity Series International Value Fund (b) 507,372 3,622,634 
Fidelity Series Overseas Fund (b) 379,221 3,280,261 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $22,415,792)  22,261,060 
Bond Funds - 55.5%   
Fidelity Series Emerging Markets Debt Fund (b) 165,797 1,336,326 
Fidelity Series Floating Rate High Income Fund (b) 39,674 318,977 
Fidelity Series High Income Fund (b) 173,064 1,426,045 
Fidelity Series Inflation-Protected Bond Index Fund (b) 2,582,232 26,028,896 
Fidelity Series International Credit Fund (b) 12,531 119,792 
Fidelity Series Investment Grade Bond Fund (b) 7,203,337 83,054,476 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 505,057 5,399,057 
Fidelity Series Real Estate Income Fund (b) 101,778 856,974 
TOTAL BOND FUNDS   
(Cost $112,615,116)  118,540,543 
Short-Term Funds - 26.0%   
Fidelity Cash Central Fund 0.29% (c) 334,279 334,379 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 44,857,683 44,857,683 
Fidelity Series Short-Term Credit Fund (b) 1,037,599 10,251,480 
TOTAL SHORT-TERM FUNDS   
(Cost $55,502,353)  55,443,542 
TOTAL INVESTMENT IN SECURITIES - 99.8%   
(Cost $209,219,558)  213,004,699 
NET OTHER ASSETS (LIABILITIES) - 0.2%  456,991 
NET ASSETS - 100%  $213,461,690 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $149,973.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $4,285 
Total $4,285 

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 $2,450,563 $434,541 $1,270,639 $234,131 $237,437 $(395,032) $1,456,870 
Fidelity Advisor Series Growth Opportunities Fund 1,688,943 418,113 1,174,258 285,942 188,951 (441,295) 680,454 
Fidelity Advisor Series Small Cap Fund 1,088,957 141,066 598,782 26,666 11,267 (145,970) 496,538 
Fidelity Series All-Sector Equity Fund 989,640 215,231 468,191 105,321 42,175 (165,960) 612,895 
Fidelity Series Canada Fund 463,666 633,488 100,915 14,224 1,371 (189,647) 807,963 
Fidelity Series Commodity Strategy Fund 5,210,189 5,433,939 1,533,764 120,860 (171,154) (1,844,864) 7,094,346 
Fidelity Series Emerging Markets Debt Fund 1,713,377 415,065 563,387 94,640 (20,658) (208,071) 1,336,326 
Fidelity Series Emerging Markets Fund 816,980 542,948 166,812 24,565 (12,128) (310,383) 870,605 
Fidelity Series Emerging Markets Opportunities Fund 7,625,209 4,116,901 1,830,970 249,212 (58,335) (1,555,680) 8,297,125 
Fidelity Series Floating Rate High Income Fund 371,523 59,409 61,892 21,444 (2,053) (48,010) 318,977 
Fidelity Series Government Money Market Fund 0.4% 40,063,769 12,823,442 8,029,528 829,065 44,857,683 
Fidelity Series High Income Fund 1,979,688 293,989 642,102 107,018 (3,145) (202,385) 1,426,045 
Fidelity Series Inflation-Protected Bond Index Fund 29,612,624 4,436,924 8,961,053 395,612 70,282 870,119 26,028,896 
Fidelity Series International Credit Fund 116,665 7,428 7,428 (4,301) 119,792 
Fidelity Series International Growth Fund 5,299,749 765,204 1,535,511 207,719 56,940 (245,619) 4,340,763 
Fidelity Series International Small Cap Fund 1,285,533 364,708 479,231 56,785 20,279 (149,580) 1,041,709 
Fidelity Series International Value Fund 5,092,008 1,144,499 1,545,965 211,907 (29,870) (1,038,038) 3,622,634 
Fidelity Series Investment Grade Bond Fund 84,271,921 14,761,065 18,650,178 2,635,038 166,484 2,505,184 83,054,476 
Fidelity Series Large Cap Stock Fund 4,132,298 777,442 2,651,751 246,580 210,360 (688,458) 1,779,891 
Fidelity Series Large Cap Value Index Fund 458,775 61,612 266,877 23,303 29,929 (93,859) 189,580 
Fidelity Series Long-Term Treasury Bond Index Fund 10,268,926 1,624,778 7,975,158 601,646 747,555 732,956 5,399,057 
Fidelity Series Opportunistic Insights Fund 2,237,855 369,872 1,034,489 181,538 184,516 (347,828) 1,409,926 
Fidelity Series Overseas Fund 3,791,516 8,542 (511,255) 3,280,261 
Fidelity Series Real Estate Income Fund 1,120,004 190,705 194,467 71,214 (5,725) (253,543) 856,974 
Fidelity Series Short-Term Credit Fund 10,063,420 2,206,166 1,915,549 282,558 (7,012) (95,545) 10,251,480 
Fidelity Series Small Cap Opportunities Fund 1,396,674 224,248 759,256 80,342 183,519 (424,732) 620,453 
Fidelity Series Stock Selector Large Cap Value Fund 2,729,219 445,815 1,625,526 138,182 19,024 (428,181) 1,140,351 
Fidelity Series Value Discovery Fund 2,677,903 474,464 1,678,206 100,978 106,782 (452,666) 1,128,277 
 $225,226,078 $57,174,578 $65,714,457 $7,362,460 $1,966,791 $(6,132,643) $212,520,347 

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, 2020, 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 $149,973 $-- $149,973 $-- 
Domestic Equity Funds 16,609,581 16,609,581 -- -- 
International Equity Funds 22,261,060 22,261,060 -- -- 
Bond Funds 118,540,543 118,540,543 -- -- 
Short-Term Funds 55,443,542 55,443,542 -- -- 
Total Investments in Securities: $213,004,699 $212,854,726 $149,973 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $149,837) 
$149,973  
Fidelity Central Funds (cost $334,376) 334,379  
Other affiliated issuers (cost $208,735,345) 212,520,347  
Total Investment in Securities (cost $209,219,558)  $213,004,699 
Segregated cash with brokers for derivative instruments  443,111 
Receivable for investments sold  182,533 
Receivable for fund shares sold  251,911 
Distributions receivable from Fidelity Central Funds  302 
Receivable for daily variation margin on futures contracts  52,946 
Total assets  213,935,502 
Liabilities   
Payable for investments purchased $62,485  
Payable for fund shares redeemed 292,864  
Accrued management fee 82,869  
Distribution and service plan fees payable 35,594  
Total liabilities  473,812 
Net Assets  $213,461,690 
Net Assets consist of:   
Paid in capital  $207,565,109 
Total accumulated earnings (loss)  5,896,581 
Net Assets  $213,461,690 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($61,806,799 ÷ 5,887,004 shares)(a)  $10.50 
Maximum offering price per share (100/94.25 of $10.50)  $11.14 
Class M:   
Net Asset Value and redemption price per share ($36,146,697 ÷ 3,446,863 shares)(a)  $10.49 
Maximum offering price per share (100/96.50 of $10.49)  $10.87 
Class C:   
Net Asset Value and offering price per share ($7,917,558 ÷ 756,380 shares)(a)  $10.47 
Class I:   
Net Asset Value, offering price and redemption price per share ($83,214,745 ÷ 7,899,666 shares)  $10.53 
Class Z:   
Net Asset Value, offering price and redemption price per share ($3,127,964 ÷ 297,129 shares)  $10.53 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($21,247,927 ÷ 2,018,934 shares)  $10.52 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $5,362,313 
Interest  1,520 
Income from Fidelity Central Funds  4,285 
Total income  5,368,118 
Expenses   
Management fee $1,033,247  
Distribution and service plan fees 451,978  
Independent trustees' fees and expenses 875  
Total expenses before reductions 1,486,100  
Expense reductions (200)  
Total expenses after reductions  1,485,900 
Net investment income (loss)  3,882,218 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 183  
Fidelity Central Funds  
Other affiliated issuers 1,966,791  
Futures contracts 538,420  
Net gain from Affiliate 256,414  
Capital gain distributions from underlying funds:   
Affiliated issuers 2,000,147  
Total net realized gain (loss)  4,761,960 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 133  
Fidelity Central Funds  
Other affiliated issuers (6,132,643)  
Futures contracts 29,100  
Total change in net unrealized appreciation (depreciation)  (6,103,407) 
Net gain (loss)  (1,341,447) 
Net increase (decrease) in net assets resulting from operations  $2,540,771 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $3,882,218 $4,198,410 
Net realized gain (loss) 4,761,960 6,375,083 
Change in net unrealized appreciation (depreciation) (6,103,407) (3,697,575) 
Net increase (decrease) in net assets resulting from operations 2,540,771 6,875,918 
Distributions to shareholders (8,121,516) (11,867,536) 
Share transactions - net increase (decrease) (6,510,541) 17,057,074 
Total increase (decrease) in net assets (12,091,286) 12,065,456 
Net Assets   
Beginning of period 225,552,976 213,487,520 
End of period $213,461,690 $225,552,976 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $10.76 $11.01 $10.94 $10.64 $11.07 
Income from Investment Operations      
Net investment income (loss)A .18 .20 .15 .16 .18 
Net realized and unrealized gain (loss) (.06)B .12 .34 .44 (.25) 
Total from investment operations .12 .32 .49 .60 (.07) 
Distributions from net investment income (.18) (.19) (.15) (.16)C (.18) 
Distributions from net realized gain (.20) (.38) (.26) (.14)C (.19) 
Total distributions (.38) (.57) (.42)D (.30) (.36)E 
Net asset value, end of period $10.50 $10.76 $11.01 $10.94 $10.64 
Total ReturnF,G 1.04%B 3.14% 4.47% 5.74% (.59)% 
Ratios to Average Net AssetsH,I      
Expenses before reductions .72% .71%J .63% .25% .25% 
Expenses net of fee waivers, if any .72% .71%J .63% .25% .25% 
Expenses net of all reductions .72% .71%J .63% .25% .25% 
Net investment income (loss) 1.64% 1.84% 1.38% 1.47% 1.63% 
Supplemental Data      
Net assets, end of period (000 omitted) $61,807 $69,817 $76,141 $87,983 $99,211 
Portfolio turnover rateI 25% 36% 21% 38% 30% 

 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 of $.42 per share is comprised of distributions from net investment income of $.153 and distributions from net realized gain of $.263 per share.

 E Total distributions of $.36 per share is comprised of distributions from net investment income of $.176 and distributions from net realized gain of $.187 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 I Amounts do not include the activity of Underlying Funds.

 J On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom Income Fund Class M

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $10.74 $11.00 $10.93 $10.62 $11.06 
Income from Investment Operations      
Net investment income (loss)A .15 .17 .13 .13 .15 
Net realized and unrealized gain (loss) (.04)B .12 .33 .45 (.25) 
Total from investment operations .11 .29 .46 .58 (.10) 
Distributions from net investment income (.16) (.17) (.13) (.13)C (.15) 
Distributions from net realized gain (.20) (.38) (.26) (.14)C (.19) 
Total distributions (.36) (.55) (.39) (.27) (.34) 
Net asset value, end of period $10.49 $10.74 $11.00 $10.93 $10.62 
Total ReturnD,E .90%B 2.78% 4.22% 5.56% (.93)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .97% .96%H .89% .50% .50% 
Expenses net of fee waivers, if any .97% .96%H .89% .50% .50% 
Expenses net of all reductions .97% .96%H .89% .50% .50% 
Net investment income (loss) 1.39% 1.59% 1.13% 1.22% 1.38% 
Supplemental Data      
Net assets, end of period (000 omitted) $36,147 $38,059 $38,204 $38,513 $42,887 
Portfolio turnover rateG 25% 36% 21% 38% 30% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom Income Fund Class C

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $10.73 $10.98 $10.91 $10.61 $11.04 
Income from Investment Operations      
Net investment income (loss)A .10 .12 .07 .08 .09 
Net realized and unrealized gain (loss) (.06)B .12 .33 .44 (.24) 
Total from investment operations .04 .24 .40 .52 (.15) 
Distributions from net investment income (.10) (.11) (.07) (.08)C (.10) 
Distributions from net realized gain (.20) (.38) (.26) (.14)C (.19) 
Total distributions (.30) (.49) (.33) (.22) (.28)D 
Net asset value, end of period $10.47 $10.73 $10.98 $10.91 $10.61 
Total ReturnE,F .30%B 2.35% 3.69% 4.99% (1.35)% 
Ratios to Average Net AssetsG,H      
Expenses before reductions 1.46%I 1.46%I 1.39% 1.00% 1.00% 
Expenses net of fee waivers, if any 1.46%I 1.46%I 1.39% 1.00% 1.00% 
Expenses net of all reductions 1.46%I 1.46%I 1.39% 1.00% 1.00% 
Net investment income (loss) .89% 1.09% .63% .72% .88% 
Supplemental Data      
Net assets, end of period (000 omitted) $7,918 $8,915 $13,727 $14,434 $14,712 
Portfolio turnover rateH 25% 36% 21% 38% 30% 

 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 distributions of $.28 per share is comprised of distributions from net investment income of $.095 and distributions from net realized gain of $.187 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom Income Fund Class I

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $10.79 $11.05 $10.98 $10.67 $11.10 
Income from Investment Operations      
Net investment income (loss)A .21 .23 .18 .19 .20 
Net realized and unrealized gain (loss) (.06)B .11 .33 .45 (.24) 
Total from investment operations .15 .34 .51 .64 (.04) 
Distributions from net investment income (.21) (.22) (.18) (.19)C (.20) 
Distributions from net realized gain (.20) (.38) (.26) (.14)C (.19) 
Total distributions (.41) (.60) (.44) (.33) (.39) 
Net asset value, end of period $10.53 $10.79 $11.05 $10.98 $10.67 
Total ReturnD 1.30%B 3.30% 4.70% 6.07% (.34)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .47% .46%G .39% - %H - %H 
Expenses net of fee waivers, if any .47% .46%G .39% -% -% 
Expenses net of all reductions .47% .46%G .39% -% -% 
Net investment income (loss) 1.89% 2.09% 1.63% 1.72% 1.88% 
Supplemental Data      
Net assets, end of period (000 omitted) $83,215 $82,975 $83,723 $81,839 $83,497 
Portfolio turnover rateF 25% 36% 21% 38% 30% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 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%.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom Income Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.79 $10.91 
Income from Investment Operations   
Net investment income (loss)B .21 .24 
Net realized and unrealized gain (loss) (.05)C .01 
Total from investment operations .16 .25 
Distributions from net investment income (.22) (.15) 
Distributions from net realized gain (.20) (.22) 
Total distributions (.42) (.37) 
Net asset value, end of period $10.53 $10.79 
Total ReturnD,E 1.36%C 2.47% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .42% .42%H 
Expenses net of fee waivers, if any .42% .42%H 
Expenses net of all reductions .42% .42%H 
Net investment income (loss) 1.94% 4.60%H 
Supplemental Data   
Net assets, end of period (000 omitted) $3,128 $765 
Portfolio turnover rateG 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom Income Fund Class Z6

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.78 $11.04 $11.09 
Income from Investment Operations    
Net investment income (loss)B .22 .23 .27 
Net realized and unrealized gain (loss) (.06)C .13 .03 
Total from investment operations .16 .36 .30 
Distributions from net investment income (.22) (.24) (.16) 
Distributions from net realized gain (.20) (.38) (.19) 
Total distributions (.42) (.62) (.35) 
Net asset value, end of period $10.52 $10.78 $11.04 
Total ReturnD,E 1.38%C 3.48% 2.69% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .36%H .37% .37%I 
Expenses net of fee waivers, if any .36%H .37% .37%I 
Expenses net of all reductions .36%H .37% .37%I 
Net investment income (loss) 1.99% 2.19% 2.92%I 
Supplemental Data    
Net assets, end of period (000 omitted) $21,248 $25,022 $1,693 
Portfolio turnover rateG 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Investment Grade Bond Fund 37.0 
Fidelity Series Government Money Market Fund 0.4% 18.7 
Fidelity Series Inflation-Protected Bond Index Fund 11.1 
Fidelity Series Emerging Markets Opportunities Fund 4.4 
Fidelity Series Short-Term Credit Fund 4.2 
Fidelity Series Commodity Strategy Fund 3.3 
Fidelity Series International Growth Fund 2.6 
Fidelity Series Long-Term Treasury Bond Index Fund 2.5 
Fidelity Series International Value Fund 2.1 
Fidelity Series Overseas Fund 2.0 
 87.9 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 11.4% 
   International Equity Funds 12.7% 
   Bond Funds 52.5% 
   Short-Term Funds 23.1% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.2% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $129,836) 130,000 129,976 
 Shares Value 
Domestic Equity Funds - 11.4%   
Fidelity Advisor Series Equity Growth Fund (b) 135,352 $1,666,180 
Fidelity Advisor Series Growth Opportunities Fund (b) 84,002 923,185 
Fidelity Advisor Series Small Cap Fund (b) 80,918 678,094 
Fidelity Series All-Sector Equity Fund (b) 92,141 722,384 
Fidelity Series Commodity Strategy Fund (b) 1,366,432 4,987,475 
Fidelity Series Large Cap Stock Fund (b) 202,713 2,430,531 
Fidelity Series Large Cap Value Index Fund (b) 26,940 258,890 
Fidelity Series Opportunistic Insights Fund (b) 103,549 1,586,370 
Fidelity Series Small Cap Opportunities Fund (b) 83,476 847,281 
Fidelity Series Stock Selector Large Cap Value Fund (b) 173,407 1,557,195 
Fidelity Series Value Discovery Fund (b) 155,157 1,540,712 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $18,020,940)  17,198,297 
International Equity Funds - 12.7%   
Fidelity Series Canada Fund (b) 85,892 712,048 
Fidelity Series Emerging Markets Fund (b) 99,980 707,859 
Fidelity Series Emerging Markets Opportunities Fund (b) 426,495 6,640,525 
Fidelity Series International Growth Fund (b) 269,317 3,899,704 
Fidelity Series International Small Cap Fund (b) 69,664 931,403 
Fidelity Series International Value Fund (b) 451,193 3,221,518 
Fidelity Series Overseas Fund (b) 347,384 3,004,872 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $18,627,734)  19,117,929 
Bond Funds - 52.5%   
Fidelity Series Emerging Markets Debt Fund (b) 117,001 943,028 
Fidelity Series Floating Rate High Income Fund (b) 28,988 233,060 
Fidelity Series High Income Fund (b) 123,258 1,015,645 
Fidelity Series Inflation-Protected Bond Index Fund (b) 1,654,278 16,675,121 
Fidelity Series International Credit Fund (b) 11,909 113,848 
Fidelity Series Investment Grade Bond Fund (b) 4,834,440 55,741,096 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 357,094 3,817,340 
Fidelity Series Real Estate Income Fund (b) 73,134 615,792 
TOTAL BOND FUNDS   
(Cost $75,306,900)  79,154,930 
Short-Term Funds - 23.1%   
Fidelity Cash Central Fund 0.29% (c) 300,947 301,037 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 28,109,999 28,109,999 
Fidelity Series Short-Term Credit Fund (b) 645,383 6,376,386 
TOTAL SHORT-TERM FUNDS   
(Cost $34,833,200)  34,787,422 
TOTAL INVESTMENT IN SECURITIES - 99.8%   
(Cost $146,918,610)  150,388,554 
NET OTHER ASSETS (LIABILITIES) - 0.2%  249,291 
NET ASSETS - 100%  $150,637,845 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $129,976.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $3,670 
Total $3,670 

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 $2,870,805 $562,283 $1,604,727 $267,679 $331,767 $(493,948) $1,666,180 
Fidelity Advisor Series Growth Opportunities Fund 1,941,632 520,872 1,258,749 326,904 230,157 (510,727) 923,185 
Fidelity Advisor Series Small Cap Fund 1,316,124 180,440 668,541 30,483 41,405 (191,334) 678,094 
Fidelity Series All-Sector Equity Fund 1,208,342 257,107 604,733 122,057 16,116 (154,448) 722,384 
Fidelity Series Canada Fund 491,028 490,667 93,407 13,261 1,761 (178,001) 712,048 
Fidelity Series Commodity Strategy Fund 3,777,399 3,880,041 1,234,420 87,834 (167,816) (1,267,729) 4,987,475 
Fidelity Series Emerging Markets Debt Fund 1,296,523 304,186 493,924 71,266 (21,815) (141,942) 943,028 
Fidelity Series Emerging Markets Fund 747,394 413,657 186,190 19,644 (12,010) (254,992) 707,859 
Fidelity Series Emerging Markets Opportunities Fund 6,978,846 2,850,829 1,900,846 205,971 (23,065) (1,265,239) 6,640,525 
Fidelity Series Floating Rate High Income Fund 281,244 48,545 59,635 16,241 (4,536) (32,558) 233,060 
Fidelity Series Government Money Market Fund 0.4% 24,410,293 9,844,623 6,144,917 517,731 28,109,999 
Fidelity Series High Income Fund 1,422,298 239,781 501,504 78,080 2,912 (147,842) 1,015,645 
Fidelity Series Inflation-Protected Bond Index Fund 18,540,350 3,527,207 6,004,148 255,032 72,146 539,566 16,675,121 
Fidelity Series International Credit Fund 110,876 7,060 7,060 (4,088) 113,848 
Fidelity Series International Growth Fund 5,140,697 771,104 1,930,033 191,897 489,530 (571,594) 3,899,704 
Fidelity Series International Small Cap Fund 1,214,064 335,293 499,755 50,510 82,284 (200,483) 931,403 
Fidelity Series International Value Fund 4,966,505 941,556 1,734,245 197,281 32,611 (984,909) 3,221,518 
Fidelity Series Investment Grade Bond Fund 56,274,393 11,766,639 14,175,565 1,795,195 174,768 1,700,861 55,741,096 
Fidelity Series Large Cap Stock Fund 4,904,833 877,112 2,809,454 295,228 302,522 (844,482) 2,430,531 
Fidelity Series Large Cap Value Index Fund 563,882 81,445 312,945 26,755 46,119 (119,611) 258,890 
Fidelity Series Long-Term Treasury Bond Index Fund 7,760,695 1,203,836 6,258,696 437,005 608,067 503,438 3,817,340 
Fidelity Series Opportunistic Insights Fund 2,678,749 482,535 1,406,593 207,077 411,661 (579,982) 1,586,370 
Fidelity Series Overseas Fund 3,468,353 7,944 (463,481) 3,004,872 
Fidelity Series Real Estate Income Fund 821,696 153,950 175,175 52,445 (812) (183,867) 615,792 
Fidelity Series Short-Term Credit Fund 6,045,818 1,861,151 1,466,214 175,531 (4,078) (60,291) 6,376,386 
Fidelity Series Small Cap Opportunities Fund 1,690,691 288,833 850,945 97,061 245,813 (527,111) 847,281 
Fidelity Series Stock Selector Large Cap Value Fund 3,223,692 524,058 1,724,414 159,385 123,523 (589,664) 1,557,195 
Fidelity Series Value Discovery Fund 3,185,718 530,249 1,782,624 116,317 186,071 (578,702) 1,540,712 
 $163,864,587 $46,413,412 $55,882,399 $5,828,874 $3,165,101 $(7,603,160) $149,957,541 

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, 2020, 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 $129,976 $-- $129,976 $-- 
Domestic Equity Funds 17,198,297 17,198,297 -- -- 
International Equity Funds 19,117,929 19,117,929 -- -- 
Bond Funds 79,154,930 79,154,930 -- -- 
Short-Term Funds 34,787,422 34,787,422 -- -- 
Total Investments in Securities: $150,388,554 $150,258,578 $129,976 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $129,836) 
$129,976  
Fidelity Central Funds (cost $301,030) 301,037  
Other affiliated issuers (cost $146,487,744) 149,957,541  
Total Investment in Securities (cost $146,918,610)  $150,388,554 
Segregated cash with brokers for derivative instruments  243,313 
Receivable for investments sold  622,378 
Receivable for fund shares sold  46,939 
Distributions receivable from Fidelity Central Funds  235 
Receivable for daily variation margin on futures contracts  35,763 
Total assets  151,337,182 
Liabilities   
Payable for fund shares redeemed $611,404  
Accrued management fee 60,677  
Distribution and service plan fees payable 27,256  
Total liabilities  699,337 
Net Assets  $150,637,845 
Net Assets consist of:   
Paid in capital  $144,261,066 
Total accumulated earnings (loss)  6,376,779 
Net Assets  $150,637,845 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($74,102,516 ÷ 6,830,449 shares)(a)  $10.85 
Maximum offering price per share (100/94.25 of $10.85)  $11.51 
Class M:   
Net Asset Value and redemption price per share ($22,479,870 ÷ 2,074,922 shares)(a)  $10.83 
Maximum offering price per share (100/96.50 of $10.83)  $11.22 
Class C:   
Net Asset Value and offering price per share ($1,641,696 ÷ 151,289 shares)(a)  $10.85 
Class I:   
Net Asset Value, offering price and redemption price per share ($46,910,945 ÷ 4,291,089 shares)  $10.93 
Class Z:   
Net Asset Value, offering price and redemption price per share ($2,850,614 ÷ 262,040 shares)  $10.88 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($2,652,204 ÷ 243,275 shares)  $10.90 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $3,884,437 
Interest  1,381 
Income from Fidelity Central Funds  3,670 
Total income  3,889,488 
Expenses   
Management fee $784,321  
Distribution and service plan fees 355,103  
Independent trustees' fees and expenses 641  
Total expenses before reductions 1,140,065  
Expense reductions (231)  
Total expenses after reductions  1,139,834 
Net investment income (loss)  2,749,654 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 249  
Fidelity Central Funds  
Other affiliated issuers 3,165,101  
Futures contracts 428,083  
Capital gain distributions from underlying funds:   
Affiliated issuers 1,944,437  
Total net realized gain (loss)  5,537,873 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 138  
Fidelity Central Funds  
Other affiliated issuers (7,603,160)  
Futures contracts 19,193  
Total change in net unrealized appreciation (depreciation)  (7,583,822) 
Net gain (loss)  (2,045,949) 
Net increase (decrease) in net assets resulting from operations  $703,705 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,749,654 $3,298,681 
Net realized gain (loss) 5,537,873 7,782,821 
Change in net unrealized appreciation (depreciation) (7,583,822) (6,171,302) 
Net increase (decrease) in net assets resulting from operations 703,705 4,910,200 
Distributions to shareholders (7,692,057) (13,484,722) 
Share transactions - net increase (decrease) (6,776,446) (21,054,341) 
Total increase (decrease) in net assets (13,764,798) (29,628,863) 
Net Assets   
Beginning of period 164,402,643 194,031,506 
End of period $150,637,845 $164,402,643 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.36 $11.92 $11.84 $11.44 $12.10 
Income from Investment Operations      
Net investment income (loss)A .19 .21 .16 .17 .19 
Net realized and unrealized gain (loss) (.16) .14 .53 .67 (.34) 
Total from investment operations .03 .35 .69 .84 (.15) 
Distributions from net investment income (.20) (.22) (.17) (.19)B (.20) 
Distributions from net realized gain (.34) (.68) (.44) (.25)B (.32) 
Total distributions (.54) (.91)C (.61) (.44) (.51)D 
Net asset value, end of period $10.85 $11.36 $11.92 $11.84 $11.44 
Total ReturnE,F .04% 3.24% 5.87% 7.55% (1.23)% 
Ratios to Average Net AssetsG,H      
Expenses before reductions .72% .73% .66% .25% .25% 
Expenses net of fee waivers, if any .72% .73% .66% .25% .25% 
Expenses net of all reductions .72% .73% .66% .25% .25% 
Net investment income (loss) 1.62% 1.80% 1.34% 1.46% 1.62% 
Supplemental Data      
Net assets, end of period (000 omitted) $74,103 $86,981 $101,642 $118,902 $134,262 
Portfolio turnover rateH 28% 28% 20% 32% 30% 

 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 of $.91 per share is comprised of distributions from net investment income of $.222 and distributions from net realized gain of $.683 per share.

 D Total distributions of $.51 per share is comprised of distributions from net investment income of $.196 and distributions from net realized gain of $.317 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2005 Fund Class M

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.35 $11.91 $11.83 $11.43 $12.09 
Income from Investment Operations      
Net investment income (loss)A .16 .18 .13 .14 .16 
Net realized and unrealized gain (loss) (.17) .14 .53 .67 (.33) 
Total from investment operations (.01) .32 .66 .81 (.17) 
Distributions from net investment income (.17) (.19) (.14) (.16)B (.17) 
Distributions from net realized gain (.34) (.68) (.44) (.25)B (.32) 
Total distributions (.51) (.88)C (.58) (.41) (.49) 
Net asset value, end of period $10.83 $11.35 $11.91 $11.83 $11.43 
Total ReturnD,E (.31)% 2.98% 5.64% 7.29% (1.45)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .97% .98% .91% .50% .50% 
Expenses net of fee waivers, if any .97% .98% .91% .50% .50% 
Expenses net of all reductions .97% .98% .91% .50% .50% 
Net investment income (loss) 1.37% 1.55% 1.08% 1.21% 1.37% 
Supplemental Data      
Net assets, end of period (000 omitted) $22,480 $24,132 $25,730 $27,091 $29,347 
Portfolio turnover rateG 28% 28% 20% 32% 30% 

 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 of $.88 per share is comprised of distributions from net investment income of $.193 and distributions from net realized gain of $.683 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2005 Fund Class C

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.35 $11.91 $11.81 $11.41 $12.06 
Income from Investment Operations      
Net investment income (loss)A .10 .12 .07 .08 .10 
Net realized and unrealized gain (loss) (.16) .13 .54 .67 (.33) 
Total from investment operations (.06) .25 .61 .75 (.23) 
Distributions from net investment income (.10) (.12) (.07) (.10)B (.10) 
Distributions from net realized gain (.34) (.68) (.44) (.25)B (.32) 
Total distributions (.44) (.81)C (.51) (.35) (.42) 
Net asset value, end of period $10.85 $11.35 $11.91 $11.81 $11.41 
Total ReturnD,E (.70)% 2.35% 5.21% 6.75% (1.98)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions 1.47% 1.48% 1.41% 1.00% 1.00% 
Expenses net of fee waivers, if any 1.47% 1.48% 1.41% 1.00% 1.00% 
Expenses net of all reductions 1.47% 1.48% 1.41% 1.00% 1.00% 
Net investment income (loss) .87% 1.05% .58% .71% .87% 
Supplemental Data      
Net assets, end of period (000 omitted) $1,642 $2,302 $5,867 $5,623 $6,200 
Portfolio turnover rateG 28% 28% 20% 32% 30% 

 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 of $.81 per share is comprised of distributions from net investment income of $.124 and distributions from net realized gain of $.683 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2005 Fund Class I

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.45 $12.00 $11.92 $11.51 $12.18 
Income from Investment Operations      
Net investment income (loss)A .22 .24 .19 .20 .22 
Net realized and unrealized gain (loss) (.17) .14 .54 .68 (.34) 
Total from investment operations .05 .38 .73 .88 (.12) 
Distributions from net investment income (.23) (.25) (.20) (.22)B (.23) 
Distributions from net realized gain (.34) (.68) (.44) (.25)B (.32) 
Total distributions (.57) (.93) (.65)C (.47) (.55) 
Net asset value, end of period $10.93 $11.45 $12.00 $11.92 $11.51 
Total ReturnD .21% 3.53% 6.13% 7.87% (1.04)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .47% .48% .41% - %G - %G 
Expenses net of fee waivers, if any .47% .48% .41% -% -% 
Expenses net of all reductions .47% .48% .41% -% -% 
Net investment income (loss) 1.87% 2.05% 1.58% 1.71% 1.87% 
Supplemental Data      
Net assets, end of period (000 omitted) $46,911 $49,013 $59,386 $58,940 $61,440 
Portfolio turnover rateF 28% 28% 20% 32% 30% 

 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 of $.65 per share is comprised of distributions from net investment income of $.203 and distributions from net realized gain of $.443 per share.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Amount represents less than .005%.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2005 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $11.41 $11.84 
Income from Investment Operations   
Net investment income (loss)B .22 .20 
Net realized and unrealized gain (loss) (.16) .01 
Total from investment operations .06 .21 
Distributions from net investment income (.25) (.26) 
Distributions from net realized gain (.34) (.39) 
Total distributions (.59) (.64)C 
Net asset value, end of period $10.88 $11.41 
Total ReturnD,E .32% 2.09% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .42% .43%H 
Expenses net of fee waivers, if any .42% .43%H 
Expenses net of all reductions .42% .43%H 
Net investment income (loss) 1.92% 3.58%H 
Supplemental Data   
Net assets, end of period (000 omitted) $2,851 $126 
Portfolio turnover rateG 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 of $.64 per share is comprised of distributions from net investment income of $.256 and distributions from net realized gain of $.385 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2005 Fund Class Z6

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $11.42 $12.00 $12.04 
Income from Investment Operations    
Net investment income (loss)B .23 .25 .13 
Net realized and unrealized gain (loss) (.16) .13 .33 
Total from investment operations .07 .38 .46 
Distributions from net investment income (.25) (.28) (.19) 
Distributions from net realized gain (.34) (.68) (.31) 
Total distributions (.59) (.96) (.50) 
Net asset value, end of period $10.90 $11.42 $12.00 
Total ReturnC,D .35% 3.53% 3.78% 
Ratios to Average Net AssetsE,F    
Expenses before reductions .37% .37% .39%G,H 
Expenses net of fee waivers, if any .37% .37% .39%G,H 
Expenses net of all reductions .37% .37% .39%G,H 
Net investment income (loss) 1.97% 2.16% 1.30%G 
Supplemental Data    
Net assets, end of period (000 omitted) $2,652 $1,849 $1,408 
Portfolio turnover rateF 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

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, 2020

 % of fund's net assets 
Fidelity Series Investment Grade Bond Fund 33.6 
Fidelity Series Government Money Market Fund 0.4% 15.5 
Fidelity Series Inflation-Protected Bond Index Fund 9.5 
Fidelity Series Emerging Markets Opportunities Fund 5.3 
Fidelity Series Short-Term Credit Fund 3.4 
Fidelity Series International Growth Fund 3.4 
Fidelity Series Commodity Strategy Fund 3.3 
Fidelity Series International Value Fund 2.8 
Fidelity Series Large Cap Stock Fund 2.8 
Fidelity Series Overseas Fund 2.7 
 82.3 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 16.8% 
   International Equity Funds 16.3% 
   Bond Funds 47.6% 
   Short-Term Funds 19.1% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $249,669) 250,000 249,954 
 Shares Value 
Domestic Equity Funds - 16.8%   
Fidelity Advisor Series Equity Growth Fund (b) 508,881 $6,264,325 
Fidelity Advisor Series Growth Opportunities Fund (b) 366,394 4,026,665 
Fidelity Advisor Series Small Cap Fund (b) 313,206 2,624,666 
Fidelity Series All-Sector Equity Fund (b) 345,859 2,711,534 
Fidelity Series Commodity Strategy Fund (b) 3,235,332 11,808,962 
Fidelity Series Large Cap Stock Fund (b) 831,941 9,974,978 
Fidelity Series Large Cap Value Index Fund (b) 107,697 1,034,971 
Fidelity Series Opportunistic Insights Fund (b) 382,446 5,859,080 
Fidelity Series Small Cap Opportunities Fund (b) 325,425 3,303,061 
Fidelity Series Stock Selector Large Cap Value Fund (b) 686,106 6,161,235 
Fidelity Series Value Discovery Fund (b) 636,876 6,324,174 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $62,413,937)  60,093,651 
International Equity Funds - 16.3%   
Fidelity Series Canada Fund (b) 289,748 2,402,013 
Fidelity Series Emerging Markets Fund (b) 284,214 2,012,232 
Fidelity Series Emerging Markets Opportunities Fund (b) 1,212,616 18,880,425 
Fidelity Series International Growth Fund (b) 850,461 12,314,668 
Fidelity Series International Small Cap Fund (b) 213,671 2,856,785 
Fidelity Series International Value Fund (b) 1,433,582 10,235,775 
Fidelity Series Overseas Fund (b) 1,127,048 9,748,961 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $57,955,071)  58,450,859 
Bond Funds - 47.6%   
Fidelity Series Emerging Markets Debt Fund (b) 278,069 2,241,239 
Fidelity Series Floating Rate High Income Fund (b) 68,911 554,048 
Fidelity Series High Income Fund (b) 297,333 2,450,021 
Fidelity Series Inflation-Protected Bond Index Fund (b) 3,389,010 34,161,217 
Fidelity Series International Credit Fund (b) 28,620 273,603 
Fidelity Series Investment Grade Bond Fund (b) 10,433,700 120,300,564 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 837,856 8,956,676 
Fidelity Series Real Estate Income Fund (b) 176,169 1,483,346 
TOTAL BOND FUNDS   
(Cost $161,522,824)  170,420,714 
Short-Term Funds - 19.1%   
Fidelity Cash Central Fund 0.29% (c) 576,279 576,452 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 55,390,390 55,390,390 
Fidelity Series Short-Term Credit Fund (b) 1,246,528 12,315,697 
TOTAL SHORT-TERM FUNDS   
(Cost $68,379,456)  68,282,539 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $350,520,957)  357,497,717 
NET OTHER ASSETS (LIABILITIES) - 0.1%  526,634 
NET ASSETS - 100%  $358,024,351 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $249,954.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $9,299 
Total $9,299 

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 $10,589,589 $1,397,855 $5,088,633 $988,570 $1,148,484 $(1,782,970) $6,264,325 
Fidelity Advisor Series Growth Opportunities Fund 7,119,050 1,477,738 3,502,910 1,207,114 877,596 (1,944,809) 4,026,665 
Fidelity Advisor Series Small Cap Fund 4,811,119 333,974 1,929,570 112,539 136,188 (727,045) 2,624,666 
Fidelity Series All-Sector Equity Fund 4,851,607 674,941 2,293,697 456,113 22,301 (543,618) 2,711,534 
Fidelity Series Canada Fund 1,734,835 1,623,509 348,457 41,820 8,066 (615,940) 2,402,013 
Fidelity Series Commodity Strategy Fund 9,678,863 8,462,614 2,825,275 214,973 (211,592) (3,295,648) 11,808,962 
Fidelity Series Emerging Markets Debt Fund 3,245,175 465,920 1,069,284 172,861 (50,710) (349,862) 2,241,239 
Fidelity Series Emerging Markets Fund 2,308,362 944,015 472,327 57,343 (23,458) (744,360) 2,012,232 
Fidelity Series Emerging Markets Opportunities Fund 21,744,347 5,859,149 5,003,280 593,899 22,707 (3,742,498) 18,880,425 
Fidelity Series Floating Rate High Income Fund 718,068 69,043 143,044 40,033 (13,975) (76,044) 554,048 
Fidelity Series Government Money Market Fund 0.4% 49,067,687 18,181,941 11,859,238 1,012,866 55,390,390 
Fidelity Series High Income Fund 3,675,571 333,035 1,209,224 191,518 (68,177) (281,184) 2,450,021 
Fidelity Series Inflation-Protected Bond Index Fund 38,597,841 5,294,366 10,962,574 534,165 163,291 1,068,293 34,161,217 
Fidelity Series International Credit Fund 266,462 16,966 16,966 (9,825) 273,603 
Fidelity Series International Growth Fund 16,910,342 1,324,517 5,681,855 613,783 1,568,857 (1,807,193) 12,314,668 
Fidelity Series International Small Cap Fund 3,943,868 730,394 1,418,724 155,030 224,549 (623,302) 2,856,785 
Fidelity Series International Value Fund 16,245,843 2,161,562 5,115,294 641,796 108,776 (3,165,112) 10,235,775 
Fidelity Series Investment Grade Bond Fund 128,120,489 22,190,870 34,209,065 3,968,918 565,012 3,633,258 120,300,564 
Fidelity Series Large Cap Stock Fund 18,186,395 1,985,270 8,124,131 1,088,842 1,086,679 (3,159,235) 9,974,978 
Fidelity Series Large Cap Value Index Fund 2,037,509 176,334 899,404 99,122 157,585 (437,053) 1,034,971 
Fidelity Series Long-Term Treasury Bond Index Fund 20,645,323 2,189,405 16,672,268 1,083,182 1,619,358 1,174,858 8,956,676 
Fidelity Series Opportunistic Insights Fund 9,874,029 1,150,120 4,508,371 768,088 1,216,476 (1,873,174) 5,859,080 
Fidelity Series Overseas Fund 11,242,914 25,174 (1,493,953) 9,748,961 
Fidelity Series Real Estate Income Fund 2,090,573 219,058 382,652 128,112 8,989 (452,622) 1,483,346 
Fidelity Series Short-Term Credit Fund 12,149,751 2,905,498 2,621,506 342,132 (4,198) (113,848) 12,315,697 
Fidelity Series Small Cap Opportunities Fund 6,170,773 686,987 2,479,437 358,613 554,184 (1,629,446) 3,303,061 
Fidelity Series Stock Selector Large Cap Value Fund 11,908,348 1,127,703 5,099,813 591,187 474,183 (2,249,186) 6,161,235 
Fidelity Series Value Discovery Fund 11,766,870 1,264,483 5,186,156 432,348 654,606 (2,175,629) 6,324,174 
 $418,458,689 $94,490,181 $139,106,189 $15,937,107 $10,245,777 $(27,417,147) $356,671,311 

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, 2020, 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 $249,954 $-- $249,954 $-- 
Domestic Equity Funds 60,093,651 60,093,651 -- -- 
International Equity Funds 58,450,859 58,450,859 -- -- 
Bond Funds 170,420,714 170,420,714 -- -- 
Short-Term Funds 68,282,539 68,282,539 -- -- 
Total Investments in Securities: $357,497,717 $357,247,763 $249,954 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $249,669) 
$249,954  
Fidelity Central Funds (cost $576,428) 576,452  
Other affiliated issuers (cost $349,694,860) 356,671,311  
Total Investment in Securities (cost $350,520,957)  $357,497,717 
Segregated cash with brokers for derivative instruments  532,525 
Receivable for investments sold  2,153,036 
Receivable for fund shares sold  643,916 
Distributions receivable from Fidelity Central Funds  502 
Receivable for daily variation margin on futures contracts  74,672 
Total assets  360,902,368 
Liabilities   
Payable for investments purchased $19  
Payable for fund shares redeemed 2,650,165  
Accrued management fee 157,302  
Distribution and service plan fees payable 70,526  
Other payables and accrued expenses  
Total liabilities  2,878,017 
Net Assets  $358,024,351 
Net Assets consist of:   
Paid in capital  $341,886,330 
Total accumulated earnings (loss)  16,138,021 
Net Assets  $358,024,351 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($162,919,905 ÷ 14,846,742 shares)(a)  $10.97 
Maximum offering price per share (100/94.25 of $10.97)  $11.64 
Class M:   
Net Asset Value and redemption price per share ($64,750,248 ÷ 5,929,991 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 ($8,343,249 ÷ 767,759 shares)(a)  $10.87 
Class I:   
Net Asset Value, offering price and redemption price per share ($107,764,039 ÷ 9,782,216 shares)  $11.02 
Class Z:   
Net Asset Value, offering price and redemption price per share ($5,894,622 ÷ 538,095 shares)  $10.95 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($8,352,288 ÷ 760,064 shares)  $10.99 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $9,489,977 
Interest  3,412 
Income from Fidelity Central Funds  9,299 
Total income  9,502,688 
Expenses   
Management fee $2,094,038  
Distribution and service plan fees 936,744  
Independent trustees' fees and expenses 1,586  
Total expenses before reductions 3,032,368  
Expense reductions (182)  
Total expenses after reductions  3,032,186 
Net investment income (loss)  6,470,502 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 828  
Affiliated issuers 10,245,777  
Futures contracts 1,089,611  
Capital gain distributions from underlying funds:   
Affiliated issuers 6,447,130  
Total net realized gain (loss)  17,783,346 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 278  
Fidelity Central Funds 24  
Other affiliated issuers (27,417,147)  
Futures contracts 43,196  
Total change in net unrealized appreciation (depreciation)  (27,373,649) 
Net gain (loss)  (9,590,303) 
Net increase (decrease) in net assets resulting from operations  $(3,119,801) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $6,470,502 $7,773,009 
Net realized gain (loss) 17,783,346 22,985,277 
Change in net unrealized appreciation (depreciation) (27,373,649) (17,343,507) 
Net increase (decrease) in net assets resulting from operations (3,119,801) 13,414,779 
Distributions to shareholders (23,327,353) (36,141,003) 
Share transactions - net increase (decrease) (35,324,647) (33,088,521) 
Total increase (decrease) in net assets (61,771,801) (55,814,745) 
Net Assets   
Beginning of period 419,796,152 475,610,897 
End of period $358,024,351 $419,796,152 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.78 $12.42 $12.34 $11.87 $12.72 
Income from Investment Operations      
Net investment income (loss)A .19 .21 .16 .18 .20 
Net realized and unrealized gain (loss) (.31) .15 .72 .84 (.41) 
Total from investment operations (.12) .36 .88 1.02 (.21) 
Distributions from net investment income (.20) (.21) (.17) (.19) (.21) 
Distributions from net realized gain (.49) (.79) (.62) (.36) (.44) 
Total distributions (.69) (1.00) (.80)B (.55) (.64)C 
Net asset value, end of period $10.97 $11.78 $12.42 $12.34 $11.87 
Total ReturnD,E (1.39)% 3.28% 7.18% 8.87% (1.67)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .77% .77%H .69% .25% .25% 
Expenses net of fee waivers, if any .77% .77%H .69% .25% .25% 
Expenses net of all reductions .77% .77%H .69% .25% .25% 
Net investment income (loss) 1.56% 1.75% 1.29% 1.45% 1.63% 
Supplemental Data      
Net assets, end of period (000 omitted) $162,920 $198,633 $230,553 $263,496 $328,232 
Portfolio turnover rateG 23% 24% 20% 26% 21% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.80 per share is comprised of distributions from net investment income of $.173 and distributions from net realized gain of $.624 per share.

 C Total distributions of $.64 per share is comprised of distributions from net investment income of $.206 and distributions from net realized gain of $.437 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2010 Fund Class M

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.73 $12.37 $12.30 $11.83 $12.68 
Income from Investment Operations      
Net investment income (loss)A .15 .18 .13 .14 .17 
Net realized and unrealized gain (loss) (.30) .15 .71 .85 (.41) 
Total from investment operations (.15) .33 .84 .99 (.24) 
Distributions from net investment income (.17) (.18) (.15) (.16) (.18) 
Distributions from net realized gain (.49) (.79) (.62) (.36) (.44) 
Total distributions (.66) (.97) (.77) (.52) (.61)B 
Net asset value, end of period $10.92 $11.73 $12.37 $12.30 $11.83 
Total ReturnC,D (1.63)% 3.06% 6.89% 8.63% (1.92)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions 1.02% 1.02%G .94% .50% .50% 
Expenses net of fee waivers, if any 1.02% 1.02%G .94% .50% .50% 
Expenses net of all reductions 1.02% 1.02%G .94% .50% .50% 
Net investment income (loss) 1.31% 1.50% 1.03% 1.20% 1.38% 
Supplemental Data      
Net assets, end of period (000 omitted) $64,750 $71,679 $77,068 $83,881 $92,543 
Portfolio turnover rateF 23% 24% 20% 26% 21% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.61 per share is comprised of distributions from net investment income of $.176 and distributions from net realized gain of $.437 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 sales charges.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2010 Fund Class C

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.66 $12.29 $12.22 $11.76 $12.60 
Income from Investment Operations      
Net investment income (loss)A .10 .12 .07 .08 .11 
Net realized and unrealized gain (loss) (.30) .14 .70 .84 (.40) 
Total from investment operations (.20) .26 .77 .92 (.29) 
Distributions from net investment income (.10) (.11) (.08) (.10) (.11) 
Distributions from net realized gain (.49) (.78) (.62) (.36) (.44) 
Total distributions (.59) (.89) (.70) (.46) (.55) 
Net asset value, end of period $10.87 $11.66 $12.29 $12.22 $11.76 
Total ReturnB,C (2.02)% 2.45% 6.37% 8.07% (2.39)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions 1.51%F 1.52%F 1.44% 1.00% 1.00% 
Expenses net of fee waivers, if any 1.51%F 1.52%F 1.44% 1.00% 1.00% 
Expenses net of all reductions 1.51%F 1.52%F 1.44% 1.00% 1.00% 
Net investment income (loss) .81% 1.00% .54% .70% .88% 
Supplemental Data      
Net assets, end of period (000 omitted) $8,343 $10,765 $26,227 $29,290 $30,150 
Portfolio turnover rateE 23% 24% 20% 26% 21% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2010 Fund Class I

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.82 $12.47 $12.40 $11.92 $12.77 
Income from Investment Operations      
Net investment income (loss)A .22 .24 .19 .21 .23 
Net realized and unrealized gain (loss) (.30) .14 .72 .85 (.40) 
Total from investment operations (.08) .38 .91 1.06 (.17) 
Distributions from net investment income (.23) (.25) (.21) (.22) (.24) 
Distributions from net realized gain (.49) (.79) (.62) (.36) (.44) 
Total distributions (.72) (1.03)B (.84)C (.58) (.68) 
Net asset value, end of period $11.02 $11.82 $12.47 $12.40 $11.92 
Total ReturnD (1.04)% 3.50% 7.39% 9.22% (1.40)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .52% .52%G .45% - %H - %H 
Expenses net of fee waivers, if any .52% .52%G .45% -% -% 
Expenses net of all reductions .52% .52%G .45% -% -% 
Net investment income (loss) 1.81% 2.00% 1.53% 1.70% 1.88% 
Supplemental Data      
Net assets, end of period (000 omitted) $107,764 $131,896 $137,019 $131,216 $143,715 
Portfolio turnover rateF 23% 24% 20% 26% 21% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $1.03 per share is comprised of distributions from net investment income of $.245 and distributions from net realized gain of $.788 per share.

 C Total distributions of $.84 per share is comprised of distributions from net investment income of $.212 and distributions from net realized gain of $.624 per share.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 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%.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2010 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $11.78 $12.30 
Income from Investment Operations   
Net investment income (loss)B .22 .27 
Net realized and unrealized gain (loss) (.30) (.11)C 
Total from investment operations (.08) .16 
Distributions from net investment income (.26) (.26) 
Distributions from net realized gain (.49) (.42) 
Total distributions (.75) (.68) 
Net asset value, end of period $10.95 $11.78 
Total ReturnD,E (1.05)% 1.65% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .46%H .47%H,I 
Expenses net of fee waivers, if any .46%H .47%H,I 
Expenses net of all reductions .46%H .47%H,I 
Net investment income (loss) 1.87% 4.58%I 
Supplemental Data   
Net assets, end of period (000 omitted) $5,895 $257 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2010 Fund Class Z6

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $11.81 $12.47 $12.50 
Income from Investment Operations    
Net investment income (loss)B .23 .25 .05 
Net realized and unrealized gain (loss) (.31) .15 .53 
Total from investment operations (.08) .40 .58 
Distributions from net investment income (.26) (.27) (.20) 
Distributions from net realized gain (.49) (.79) (.42) 
Total distributions (.74)C (1.06) (.61)D 
Net asset value, end of period $10.99 $11.81 $12.47 
Total ReturnE,F (1.01)% 3.66% 4.62% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .39% .39% .41%I,J 
Expenses net of fee waivers, if any .39% .39% .41%I,J 
Expenses net of all reductions .39% .39% .41%I,J 
Net investment income (loss) 1.94% 2.13% .45%I 
Supplemental Data    
Net assets, end of period (000 omitted) $8,352 $6,566 $4,744 
Portfolio turnover rateH 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 of $.74 per share is comprised of distributions from net investment income of $.258 and distributions from net realized gain of $.486 per share.

 D Total distributions of $.61 per share is comprised of distributions from net investment income of $.195 and distributions from net realized gain of $.416 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

 J On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

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, 2020

 % of fund's net assets 
Fidelity Series Investment Grade Bond Fund 29.8 
Fidelity Series Government Money Market Fund 0.4% 12.3 
Fidelity Series Inflation-Protected Bond Index Fund 8.4 
Fidelity Series Emerging Markets Opportunities Fund 6.3 
Fidelity Series International Growth Fund 4.2 
Fidelity Series Large Cap Stock Fund 3.8 
Fidelity Series International Value Fund 3.6 
Fidelity Series Overseas Fund 3.5 
Fidelity Series Commodity Strategy Fund 3.3 
Fidelity Series Short-Term Credit Fund 2.6 
 77.8 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 21.9% 
   International Equity Funds 20.2% 
   Bond Funds 42.7% 
   Short-Term Funds 15.0% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $489,252) 490,000 489,911 
 Shares Value 
Domestic Equity Funds - 21.9%   
Fidelity Advisor Series Equity Growth Fund (b) 1,512,038 $18,613,188 
Fidelity Advisor Series Growth Opportunities Fund (b) 1,088,414 11,961,675 
Fidelity Advisor Series Small Cap Fund (b) 924,375 7,746,259 
Fidelity Series All-Sector Equity Fund (b) 1,030,983 8,082,906 
Fidelity Series Commodity Strategy Fund (b) 6,983,662 25,490,366 
Fidelity Series Large Cap Stock Fund (b) 2,472,470 29,644,912 
Fidelity Series Large Cap Value Index Fund (b) 319,310 3,068,567 
Fidelity Series Opportunistic Insights Fund (b) 1,136,425 17,410,024 
Fidelity Series Small Cap Opportunities Fund (b) 964,953 9,794,269 
Fidelity Series Stock Selector Large Cap Value Fund (b) 2,034,676 18,271,386 
Fidelity Series Value Discovery Fund (b) 1,910,826 18,974,502 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $171,022,407)  169,058,054 
International Equity Funds - 20.2%   
Fidelity Series Canada Fund (b) 850,950 7,054,379 
Fidelity Series Emerging Markets Fund (b) 716,999 5,076,354 
Fidelity Series Emerging Markets Opportunities Fund (b) 3,123,909 48,639,256 
Fidelity Series International Growth Fund (b) 2,270,543 32,877,456 
Fidelity Series International Small Cap Fund (b) 580,169 7,756,858 
Fidelity Series International Value Fund (b) 3,921,379 27,998,648 
Fidelity Series Overseas Fund (b) 3,126,944 27,048,067 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $152,498,835)  156,451,018 
Bond Funds - 42.7%   
Fidelity Series Emerging Markets Debt Fund (b) 601,129 4,845,097 
Fidelity Series Floating Rate High Income Fund (b) 143,373 1,152,720 
Fidelity Series High Income Fund (b) 651,124 5,365,266 
Fidelity Series Inflation-Protected Bond Index Fund (b) 6,433,058 64,845,221 
Fidelity Series International Credit Fund (b) 68,120 651,223 
Fidelity Series Investment Grade Bond Fund (b) 20,012,769 230,747,222 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 1,853,882 19,818,002 
Fidelity Series Real Estate Income Fund (b) 385,451 3,245,495 
TOTAL BOND FUNDS   
(Cost $311,915,363)  330,670,246 
Short-Term Funds - 15.0%   
Fidelity Cash Central Fund 0.29% (c) 1,029,916 1,030,225 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 95,067,836 95,067,836 
Fidelity Series Short-Term Credit Fund (b) 2,040,008 20,155,281 
TOTAL SHORT-TERM FUNDS   
(Cost $116,427,581)  116,253,342 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $752,353,438)  772,922,571 
NET OTHER ASSETS (LIABILITIES) - 0.1%  1,017,513 
NET ASSETS - 100%  $773,940,084 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $489,911.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $22,181 
Total $22,181 

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 $32,546,778 $3,452,604 $15,523,670 $3,021,290 $3,709,802 $(5,572,326) $18,613,188 
Fidelity Advisor Series Growth Opportunities Fund 21,848,910 3,974,023 10,652,708 3,689,544 2,711,990 (5,920,540) 11,961,675 
Fidelity Advisor Series Small Cap Fund 14,730,372 553,334 5,789,415 344,019 423,483 (2,171,515) 7,746,259 
Fidelity Series All-Sector Equity Fund 14,439,639 1,626,512 6,409,567 1,383,165 66,341 (1,640,019) 8,082,906 
Fidelity Series Canada Fund 5,061,159 4,852,523 1,055,662 116,595 28,107 (1,831,748) 7,054,379 
Fidelity Series Commodity Strategy Fund 22,709,877 17,604,722 6,980,000 495,436 (982,787) (6,861,446) 25,490,366 
Fidelity Series Emerging Markets Debt Fund 7,351,000 735,264 2,341,875 385,453 (131,873) (767,419) 4,845,097 
Fidelity Series Emerging Markets Fund 6,122,573 2,323,926 1,404,882 152,815 (73,485) (1,891,778) 5,076,354 
Fidelity Series Emerging Markets Opportunities Fund 57,560,785 13,289,397 12,764,172 1,560,156 1,013 (9,447,767) 48,639,256 
Fidelity Series Floating Rate High Income Fund 1,551,611 106,631 323,375 84,125 (27,536) (154,611) 1,152,720 
Fidelity Series Government Money Market Fund 0.4% 87,309,321 35,889,330 28,130,815 1,758,230 95,067,836 
Fidelity Series High Income Fund 8,655,724 550,339 3,068,731 438,225 (91,168) (680,898) 5,365,266 
Fidelity Series Inflation-Protected Bond Index Fund 70,248,640 13,148,602 20,780,615 1,042,973 170,876 2,057,718 64,845,221 
Fidelity Series International Credit Fund 634,225 40,382 40,382 (23,384) 651,223 
Fidelity Series International Growth Fund 48,417,041 2,445,518 17,663,859 1,733,169 5,963,783 (6,285,027) 32,877,456 
Fidelity Series International Small Cap Fund 11,290,776 1,744,506 4,190,425 430,015 844,644 (1,932,643) 7,756,858 
Fidelity Series International Value Fund 46,313,712 5,919,048 15,887,095 1,823,425 471,008 (8,818,025) 27,998,648 
Fidelity Series Investment Grade Bond Fund 262,356,116 40,873,724 81,125,565 8,010,851 1,143,363 7,499,584 230,747,222 
Fidelity Series Large Cap Stock Fund 55,960,959 4,294,432 24,403,302 3,343,209 3,020,296 (9,227,473) 29,644,912 
Fidelity Series Large Cap Value Index Fund 6,321,235 383,415 2,801,272 302,118 513,329 (1,348,140) 3,068,567 
Fidelity Series Long-Term Treasury Bond Index Fund 49,275,645 4,331,734 40,286,932 2,490,134 3,993,317 2,504,238 19,818,002 
Fidelity Series Opportunistic Insights Fund 30,342,218 2,744,121 13,736,051 2,341,031 3,963,550 (5,903,814) 17,410,024 
Fidelity Series Overseas Fund 31,261,332 70,610 (4,213,265) 27,048,067 
Fidelity Series Real Estate Income Fund 4,873,522 363,147 1,018,313 292,468 42,370 (1,015,231) 3,245,495 
Fidelity Series Short-Term Credit Fund 21,687,199 4,414,421 5,767,159 588,386 2,508 (181,688) 20,155,281 
Fidelity Series Small Cap Opportunities Fund 18,858,008 1,465,068 7,292,095 1,103,331 1,884,312 (5,121,024) 9,794,269 
Fidelity Series Stock Selector Large Cap Value Fund 36,612,014 2,334,974 15,383,956 1,796,342 1,473,554 (6,765,200) 18,271,386 
Fidelity Series Value Discovery Fund 36,176,450 2,665,706 15,318,058 1,314,922 2,070,416 (6,620,012) 18,974,502 
 $979,255,509 $203,388,735 $360,099,569 $40,152,419 $31,191,213 $(82,333,453) $771,402,435 

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, 2020, 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 $489,911 $-- $489,911 $-- 
Domestic Equity Funds 169,058,054 169,058,054 -- -- 
International Equity Funds 156,451,018 156,451,018 -- -- 
Bond Funds 330,670,246 330,670,246 -- -- 
Short-Term Funds 116,253,342 116,253,342 -- -- 
Total Investments in Securities: $772,922,571 $772,432,660 $489,911 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $489,252) 
$489,911  
Fidelity Central Funds (cost $1,030,166) 1,030,225  
Other affiliated issuers (cost $750,834,020) 771,402,435  
Total Investment in Securities (cost $752,353,438)  $772,922,571 
Segregated cash with brokers for derivative instruments  1,039,000 
Receivable for investments sold  4,646,376 
Receivable for fund shares sold  672,799 
Distributions receivable from Fidelity Central Funds  1,010 
Receivable for daily variation margin on futures contracts  145,550 
Total assets  779,427,306 
Liabilities   
Payable for investments purchased $85,089  
Payable for fund shares redeemed 4,881,070  
Accrued management fee 371,584  
Distribution and service plan fees payable 149,479  
Total liabilities  5,487,222 
Net Assets  $773,940,084 
Net Assets consist of:   
Paid in capital  $725,834,714 
Total accumulated earnings (loss)  48,105,370 
Net Assets  $773,940,084 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($360,371,003 ÷ 33,645,466 shares)(a)  $10.71 
Maximum offering price per share (100/94.25 of $10.71)  $11.36 
Class M:   
Net Asset Value and redemption price per share ($123,856,907 ÷ 11,595,987 shares)(a)  $10.68 
Maximum offering price per share (100/96.50 of $10.68)  $11.07 
Class C:   
Net Asset Value and offering price per share ($20,129,466 ÷ 1,896,301 shares)(a)  $10.62 
Class I:   
Net Asset Value, offering price and redemption price per share ($238,048,160 ÷ 22,028,075 shares)  $10.81 
Class Z:   
Net Asset Value, offering price and redemption price per share ($16,134,999 ÷ 1,502,841 shares)  $10.74 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($15,399,549 ÷ 1,429,134 shares)  $10.78 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $21,565,021 
Interest  7,822 
Income from Fidelity Central Funds  22,181 
Total income  21,595,024 
Expenses   
Management fee $5,189,434  
Distribution and service plan fees 2,123,497  
Independent trustees' fees and expenses 3,654  
Total expenses before reductions 7,316,585  
Expense reductions (761)  
Total expenses after reductions  7,315,824 
Net investment income (loss)  14,279,200 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 2,548  
Fidelity Central Funds  
Other affiliated issuers 31,191,213  
Futures contracts 2,356,316  
Capital gain distributions from underlying funds:   
Affiliated issuers 18,587,398  
Total net realized gain (loss)  52,137,476 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 637  
Fidelity Central Funds 57  
Other affiliated issuers (82,333,453)  
Futures contracts 105,866  
Total change in net unrealized appreciation (depreciation)  (82,226,893) 
Net gain (loss)  (30,089,417) 
Net increase (decrease) in net assets resulting from operations  $(15,810,217) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $14,279,200 $17,744,669 
Net realized gain (loss) 52,137,476 64,175,175 
Change in net unrealized appreciation (depreciation) (82,226,893) (49,925,939) 
Net increase (decrease) in net assets resulting from operations (15,810,217) 31,993,905 
Distributions to shareholders (63,470,497) (96,090,230) 
Share transactions - net increase (decrease) (129,306,462) (64,212,519) 
Total increase (decrease) in net assets (208,587,176) (128,308,844) 
Net Assets   
Beginning of period 982,527,260 1,110,836,104 
End of period $773,940,084 $982,527,260 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.79 $12.59 $12.43 $11.81 $12.70 
Income from Investment Operations      
Net investment income (loss)A .18 .21 .16 .18 .20 
Net realized and unrealized gain (loss) (.44) .14 .87 .99 (.45) 
Total from investment operations (.26) .35 1.03 1.17 (.25) 
Distributions from net investment income (.19) (.21) (.18) (.19) (.21) 
Distributions from net realized gain (.62) (.94) (.70) (.36) (.43) 
Total distributions (.82)B (1.15) (.87)C (.55) (.64) 
Net asset value, end of period $10.71 $11.79 $12.59 $12.43 $11.81 
Total ReturnD,E (2.77)% 3.26% 8.42% 10.23% (2.07)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .81% .82% .72% .25% .25% 
Expenses net of fee waivers, if any .81% .82% .72% .25% .25% 
Expenses net of all reductions .81% .82% .72% .25% .25% 
Net investment income (loss) 1.50% 1.71% 1.22% 1.46% 1.64% 
Supplemental Data      
Net assets, end of period (000 omitted) $360,371 $476,763 $551,179 $653,982 $739,929 
Portfolio turnover rateG 22% 21% 19% 22% 20% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.82 per share is comprised of distributions from net investment income of $.192 and distributions from net realized gain of $.624 per share.

 C Total distributions of $.87 per share is comprised of distributions from net investment income of $.175 and distributions from net realized gain of $.699 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2015 Fund Class M

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.76 $12.56 $12.41 $11.79 $12.68 
Income from Investment Operations      
Net investment income (loss)A .15 .17 .12 .15 .17 
Net realized and unrealized gain (loss) (.44) .15 .87 .99 (.45) 
Total from investment operations (.29) .32 .99 1.14 (.28) 
Distributions from net investment income (.16) (.18) (.15) (.16) (.18) 
Distributions from net realized gain (.62) (.94) (.70) (.36) (.43) 
Total distributions (.79)B (1.12) (.84)C (.52) (.61) 
Net asset value, end of period $10.68 $11.76 $12.56 $12.41 $11.79 
Total ReturnD,E (3.00)% 3.01% 8.10% 9.98% (2.32)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions 1.06% 1.07% .98% .50% .50% 
Expenses net of fee waivers, if any 1.06% 1.07% .98% .50% .50% 
Expenses net of all reductions 1.06% 1.07% .98% .50% .50% 
Net investment income (loss) 1.25% 1.45% .96% 1.21% 1.39% 
Supplemental Data      
Net assets, end of period (000 omitted) $123,857 $152,212 $167,835 $178,795 $190,018 
Portfolio turnover rateG 22% 21% 19% 22% 20% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.79 per share is comprised of distributions from net investment income of $.164 and distributions from net realized gain of $.624 per share.

 C Total distributions of $.84 per share is comprised of distributions from net investment income of $.145 and distributions from net realized gain of $.699 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2015 Fund Class C

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.69 $12.47 $12.32 $11.72 $12.60 
Income from Investment Operations      
Net investment income (loss)A .09 .11 .06 .08 .11 
Net realized and unrealized gain (loss) (.44) .16 .86 .98 (.45) 
Total from investment operations (.35) .27 .92 1.06 (.34) 
Distributions from net investment income (.09) (.13) (.08) (.10) (.11) 
Distributions from net realized gain (.62) (.93) (.70) (.36) (.43) 
Total distributions (.72)B (1.05)C (.77)D (.46) (.54) 
Net asset value, end of period $10.62 $11.69 $12.47 $12.32 $11.72 
Total ReturnE,F (3.48)% 2.60% 7.57% 9.33% (2.76)% 
Ratios to Average Net AssetsG,H      
Expenses before reductions 1.56% 1.57% 1.48% 1.00% 1.00% 
Expenses net of fee waivers, if any 1.56% 1.57% 1.48% 1.00% 1.00% 
Expenses net of all reductions 1.55% 1.57% 1.48% 1.00% 1.00% 
Net investment income (loss) .76% .96% .47% .71% .89% 
Supplemental Data      
Net assets, end of period (000 omitted) $20,129 $31,274 $54,730 $61,332 $63,443 
Portfolio turnover rateH 22% 21% 19% 22% 20% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.72 per share is comprised of distributions from net investment income of $.094 and distributions from net realized gain of $.624 per share.

 C Total distributions of $1.05 per share is comprised of distributions from net investment income of $.125 and distributions from net realized gain of $.926 per share.

 D Total distributions of $.77 per share is comprised of distributions from net investment income of $.075 and distributions from net realized gain of $.699 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2015 Fund Class I

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.89 $12.69 $12.53 $11.90 $12.79 
Income from Investment Operations      
Net investment income (loss)A .21 .24 .19 .21 .23 
Net realized and unrealized gain (loss) (.44) .14 .88 1.00 (.45) 
Total from investment operations (.23) .38 1.07 1.21 (.22) 
Distributions from net investment income (.22) (.24) (.21) (.22) (.24) 
Distributions from net realized gain (.62) (.94) (.70) (.36) (.43) 
Total distributions (.85)B (1.18) (.91) (.58) (.67) 
Net asset value, end of period $10.81 $11.89 $12.69 $12.53 $11.90 
Total ReturnC (2.50)% 3.55% 8.66% 10.53% (1.80)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions .56% .57% .48% - %F - %F 
Expenses net of fee waivers, if any .56% .57% .48% -% -% 
Expenses net of all reductions .56% .57% .48% -% -% 
Net investment income (loss) 1.75% 1.95% 1.46% 1.71% 1.89% 
Supplemental Data      
Net assets, end of period (000 omitted) $238,048 $304,221 $324,189 $317,539 $361,722 
Portfolio turnover rateE 22% 21% 19% 22% 20% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.85 per share is comprised of distributions from net investment income of $.223 and distributions from net realized gain of $.624 per share.

 C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Amount represents less than .005%.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2015 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $11.85 $12.50 
Income from Investment Operations   
Net investment income (loss)B .22 .27 
Net realized and unrealized gain (loss) (.45) (.17)C 
Total from investment operations (.23) .10 
Distributions from net investment income (.26) (.27) 
Distributions from net realized gain (.62) (.48) 
Total distributions (.88) (.75) 
Net asset value, end of period $10.74 $11.85 
Total ReturnD,E (2.48)% 1.29% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .49% .51%H,I 
Expenses net of fee waivers, if any .49% .51%H,I 
Expenses net of all reductions .49% .51%H,I 
Net investment income (loss) 1.82% 4.73%H 
Supplemental Data   
Net assets, end of period (000 omitted) $16,135 $1,522 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2015 Fund Class Z6

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $11.87 $12.67 $12.66 
Income from Investment Operations    
Net investment income (loss)B .23 .25 .18 
Net realized and unrealized gain (loss) (.45) .16 .51 
Total from investment operations (.22) .41 .69 
Distributions from net investment income (.25) (.27) (.21) 
Distributions from net realized gain (.62) (.94) (.47) 
Total distributions (.87) (1.21) (.68) 
Net asset value, end of period $10.78 $11.87 $12.67 
Total ReturnC,D (2.40)% 3.81% 5.42% 
Ratios to Average Net AssetsE,F    
Expenses before reductions .41% .41% .43%G,H 
Expenses net of fee waivers, if any .41% .41% .43%G,H 
Expenses net of all reductions .41% .41% .43%G,H 
Net investment income (loss) 1.90% 2.11% 1.75%G 
Supplemental Data    
Net assets, end of period (000 omitted) $15,400 $16,536 $12,903 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

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, 2020

 % of fund's net assets 
Fidelity Series Investment Grade Bond Fund 26.3 
Fidelity Series Government Money Market Fund 0.4% 9.3 
Fidelity Series Inflation-Protected Bond Index Fund 7.2 
Fidelity Series Emerging Markets Opportunities Fund 7.2 
Fidelity Series International Growth Fund 5.0 
Fidelity Series Large Cap Stock Fund 4.8 
Fidelity Series International Value Fund 4.3 
Fidelity Series Overseas Fund 4.2 
Fidelity Series Commodity Strategy Fund 3.3 
Fidelity Series Value Discovery Fund 3.1 
 74.7 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 26.7% 
   International Equity Funds 23.7% 
   Bond Funds 38.1% 
   Short-Term Funds 11.3% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.55% 5/7/20 to 6/4/20 (a)   
(Cost $1,198,084) 1,200,000 1,199,799 
 Shares Value 
Domestic Equity Funds - 26.7%   
Fidelity Advisor Series Equity Growth Fund (b) 4,583,653 $56,424,775 
Fidelity Advisor Series Growth Opportunities Fund (b) 3,299,231 36,258,544 
Fidelity Advisor Series Small Cap Fund (b) 2,800,969 23,472,121 
Fidelity Series All-Sector Equity Fund (b) 3,183,415 24,957,973 
Fidelity Series Commodity Strategy Fund (b) 17,039,743 62,195,061 
Fidelity Series Large Cap Stock Fund (b) 7,532,575 90,315,569 
Fidelity Series Large Cap Value Index Fund (b) 976,304 9,382,282 
Fidelity Series Opportunistic Insights Fund (b) 3,445,110 52,779,092 
Fidelity Series Small Cap Opportunities Fund (b) 2,923,738 29,675,940 
Fidelity Series Stock Selector Large Cap Value Fund (b) 6,302,239 56,594,104 
Fidelity Series Value Discovery Fund (b) 5,826,171 57,853,881 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $509,616,394)  499,909,342 
International Equity Funds - 23.7%   
Fidelity Series Canada Fund (b) 2,511,192 20,817,784 
Fidelity Series Emerging Markets Fund (b) 1,961,461 13,887,141 
Fidelity Series Emerging Markets Opportunities Fund (b) 8,601,729 133,928,919 
Fidelity Series International Growth Fund (b) 6,480,866 93,842,946 
Fidelity Series International Small Cap Fund (b) 1,631,409 21,811,936 
Fidelity Series International Value Fund (b) 11,198,795 79,959,397 
Fidelity Series Overseas Fund (b) 9,057,640 78,348,582 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $442,381,040)  442,596,705 
Bond Funds - 38.1%   
Fidelity Series Emerging Markets Debt Fund (b) 1,452,090 11,703,842 
Fidelity Series Floating Rate High Income Fund (b) 293,519 2,359,894 
Fidelity Series High Income Fund (b) 1,600,937 13,191,722 
Fidelity Series Inflation-Protected Bond Index Fund (b) 13,364,076 134,709,885 
Fidelity Series International Credit Fund (b) 146,412 1,399,702 
Fidelity Series Investment Grade Bond Fund (b) 42,673,197 492,021,965 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 4,538,765 48,519,393 
Fidelity Series Real Estate Income Fund (b) 921,918 7,762,552 
TOTAL BOND FUNDS   
(Cost $685,557,089)  711,668,955 
Short-Term Funds - 11.3%   
Fidelity Cash Central Fund 0.29% (c) 2,508,327 2,509,080 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 174,487,580 174,487,580 
Fidelity Series Short-Term Credit Fund (b) 3,529,542 34,871,879 
TOTAL SHORT-TERM FUNDS   
(Cost $212,165,622)  211,868,539 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $1,850,918,229)  1,867,243,340 
NET OTHER ASSETS (LIABILITIES) - 0.1%  2,236,373 
NET ASSETS - 100%  $1,869,479,713 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,199,799.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $51,392 
Total $51,392 

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 $92,384,310 $10,662,379 $40,622,828 $9,047,469 $8,875,775 $(14,874,861) $56,424,775 
Fidelity Advisor Series Growth Opportunities Fund 62,361,675 12,116,813 28,352,573 11,048,535 6,988,057 (16,855,428) 36,258,544 
Fidelity Advisor Series Small Cap Fund 40,941,178 2,002,939 13,931,613 1,030,121 870,979 (6,411,362) 23,472,121 
Fidelity Series All-Sector Equity Fund 40,929,825 5,493,567 16,391,890 4,205,527 125,191 (5,198,720) 24,957,973 
Fidelity Series Canada Fund 13,486,729 14,945,685 2,223,125 344,853 34,861 (5,426,366) 20,817,784 
Fidelity Series Commodity Strategy Fund 53,472,213 42,714,157 14,792,896 1,205,201 (2,330,316) (16,868,097) 62,195,061 
Fidelity Series Emerging Markets Debt Fund 16,371,811 1,566,319 4,019,605 886,745 (242,316) (1,972,367) 11,703,842 
Fidelity Series Emerging Markets Fund 15,695,656 6,532,008 3,015,729 430,090 (170,460) (5,154,334) 13,887,141 
Fidelity Series Emerging Markets Opportunities Fund 147,559,925 39,911,536 27,314,173 4,269,391 (528,679) (25,699,690) 133,928,919 
Fidelity Series Floating Rate High Income Fund 3,120,379 240,647 625,365 171,446 (56,006) (319,761) 2,359,894 
Fidelity Series Government Money Market Fund 0.4% 152,159,909 84,357,455 62,029,784 3,069,870 174,487,580 
Fidelity Series High Income Fund 20,745,261 1,395,172 7,043,291 1,050,557 (360,908) (1,544,512) 13,191,722 
Fidelity Series Inflation-Protected Bond Index Fund 120,170,173 48,550,546 37,986,326 2,132,691 397,045 3,578,447 134,709,885 
Fidelity Series International Credit Fund 1,363,168 86,795 86,795 (50,261) 1,399,702 
Fidelity Series International Growth Fund 129,324,278 7,467,702 41,139,366 4,932,239 12,118,270 (13,927,938) 93,842,946 
Fidelity Series International Small Cap Fund 30,519,298 3,401,585 8,888,618 1,287,446 1,322,849 (4,543,178) 21,811,936 
Fidelity Series International Value Fund 123,662,826 19,611,905 38,871,902 5,171,230 (95,243) (24,348,189) 79,959,397 
Fidelity Series Investment Grade Bond Fund 538,214,733 100,510,084 164,628,266 16,921,806 1,596,927 16,328,487 492,021,965 
Fidelity Series Large Cap Stock Fund 154,945,821 13,294,359 58,544,460 9,677,234 2,345,049 (21,725,200) 90,315,569 
Fidelity Series Large Cap Value Index Fund 17,496,625 1,283,190 6,765,238 907,507 1,142,341 (3,774,636) 9,382,282 
Fidelity Series Long-Term Treasury Bond Index Fund 117,354,568 14,976,107 99,733,857 6,130,193 9,669,666 6,252,909 48,519,393 
Fidelity Series Opportunistic Insights Fund 85,777,692 8,546,860 35,320,085 7,038,828 8,154,164 (14,379,539) 52,779,092 
Fidelity Series Overseas Fund 90,903,294 203,873 (12,554,712) 78,348,582 
Fidelity Series Real Estate Income Fund 11,168,017 902,656 1,966,734 685,636 46,378 (2,387,765) 7,762,552 
Fidelity Series Short-Term Credit Fund 38,320,567 8,589,636 11,736,289 1,030,200 11,387 (313,422) 34,871,879 
Fidelity Series Small Cap Opportunities Fund 52,642,198 4,184,984 17,248,163 3,206,740 2,959,227 (12,862,306) 29,675,940 
Fidelity Series Stock Selector Large Cap Value Fund 102,275,559 8,661,534 37,764,316 5,379,301 3,043,674 (19,622,347) 56,594,104 
Fidelity Series Value Discovery Fund 100,321,739 8,249,623 36,422,493 3,937,092 4,442,419 (18,737,407) 57,853,881 
 $2,282,786,133 $561,159,537 $817,378,985 $105,488,616 $60,360,331 $(223,392,555) $1,863,534,461 

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, 2020, 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 $1,199,799 $-- $1,199,799 $-- 
Domestic Equity Funds 499,909,342 499,909,342 -- -- 
International Equity Funds 442,596,705 442,596,705 -- -- 
Bond Funds 711,668,955 711,668,955 -- -- 
Short-Term Funds 211,868,539 211,868,539 -- -- 
Total Investments in Securities: $1,867,243,340 $1,866,043,541 $1,199,799 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,198,084) 
$1,199,799  
Fidelity Central Funds (cost $2,508,979) 2,509,080  
Other affiliated issuers (cost $1,847,211,166) 1,863,534,461  
Total Investment in Securities (cost $1,850,918,229)  $1,867,243,340 
Segregated cash with brokers for derivative instruments  2,292,119 
Receivable for investments sold  13,782,856 
Receivable for fund shares sold  1,213,707 
Distributions receivable from Fidelity Central Funds  2,295 
Receivable for daily variation margin on futures contracts  331,637 
Total assets  1,884,865,954 
Liabilities   
Payable for investments purchased $36  
Payable for fund shares redeemed 14,084,482  
Accrued management fee 965,994  
Distribution and service plan fees payable 335,729  
Total liabilities  15,386,241 
Net Assets  $1,869,479,713 
Net Assets consist of:   
Paid in capital  $1,784,323,436 
Total accumulated earnings (loss)  85,156,277 
Net Assets  $1,869,479,713 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($800,330,302 ÷ 68,809,818 shares)(a)  $11.63 
Maximum offering price per share (100/94.25 of $11.63)  $12.34 
Class M:   
Net Asset Value and redemption price per share ($277,495,832 ÷ 23,875,925 shares)(a)  $11.62 
Maximum offering price per share (100/96.50 of $11.62)  $12.04 
Class C:   
Net Asset Value and offering price per share ($46,562,976 ÷ 4,042,722 shares)(a)  $11.52 
Class I:   
Net Asset Value, offering price and redemption price per share ($654,422,339 ÷ 55,790,216 shares)  $11.73 
Class Z:   
Net Asset Value, offering price and redemption price per share ($33,171,610 ÷ 2,846,651 shares)  $11.65 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($57,496,654 ÷ 4,918,552 shares)  $11.69 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $51,712,126 
Interest  17,164 
Income from Fidelity Central Funds  51,392 
Total income  51,780,682 
Expenses   
Management fee $13,346,796  
Distribution and service plan fees 4,740,150  
Independent trustees' fees and expenses 8,711  
Total expenses before reductions 18,095,657  
Expense reductions (703)  
Total expenses after reductions  18,094,954 
Net investment income (loss)  33,685,728 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 6,810  
Fidelity Central Funds  
Other affiliated issuers 60,360,331  
Futures contracts 5,432,648  
Capital gain distributions from underlying funds:   
Affiliated issuers 53,776,490  
Total net realized gain (loss)  119,576,285 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 1,690  
Fidelity Central Funds 101  
Other affiliated issuers (223,392,555)  
Futures contracts 205,067  
Total change in net unrealized appreciation (depreciation)  (223,185,697) 
Net gain (loss)  (103,609,412) 
Net increase (decrease) in net assets resulting from operations  $(69,923,684) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $33,685,728 $40,560,631 
Net realized gain (loss) 119,576,285 143,877,520 
Change in net unrealized appreciation (depreciation) (223,185,697) (108,671,834) 
Net increase (decrease) in net assets resulting from operations (69,923,684) 75,766,317 
Distributions to shareholders (150,473,417) (202,406,934) 
Share transactions - net increase (decrease) (200,998,401) (84,654,253) 
Total increase (decrease) in net assets (421,395,502) (211,294,870) 
Net Assets   
Beginning of period 2,290,875,215 2,502,170,085 
End of period $1,869,479,713 $2,290,875,215 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $12.97 $13.71 $13.31 $12.51 $13.44 
Income from Investment Operations      
Net investment income (loss)A .19 .22 .16 .19 .21 
Net realized and unrealized gain (loss) (.65) .18 1.05 1.16 (.51) 
Total from investment operations (.46) .40 1.21 1.35 (.30) 
Distributions from net investment income (.20) (.22) (.18) (.19) (.21) 
Distributions from net realized gain (.68) (.92) (.62) (.36) (.41) 
Total distributions (.88) (1.14) (.81)B (.55) (.63)C 
Net asset value, end of period $11.63 $12.97 $13.71 $13.31 $12.51 
Total ReturnD,E (4.15)% 3.40% 9.15% 11.17% (2.35)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .85% .86% .76% .25% .25% 
Expenses net of fee waivers, if any .85% .86% .76% .25% .25% 
Expenses net of all reductions .85% .86% .76% .25% .25% 
Net investment income (loss) 1.46% 1.68% 1.18% 1.46% 1.62% 
Supplemental Data      
Net assets, end of period (000 omitted) $800,330 $1,038,299 $1,196,128 $1,315,261 $1,442,826 
Portfolio turnover rateG 25% 22% 20% 19% 20% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.81 per share is comprised of distributions from net investment income of $.184 and distributions from net realized gain of $.621 per share.

 C Total distributions of $.63 per share is comprised of distributions from net investment income of $.214 and distributions from net realized gain of $.411 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2020 Fund Class M

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $12.96 $13.71 $13.30 $12.51 $13.44 
Income from Investment Operations      
Net investment income (loss)A .16 .19 .13 .15 .18 
Net realized and unrealized gain (loss) (.65) .17 1.05 1.16 (.52) 
Total from investment operations (.49) .36 1.18 1.31 (.34) 
Distributions from net investment income (.17) (.19) (.15) (.16) (.18) 
Distributions from net realized gain (.68) (.92) (.62) (.36) (.41) 
Total distributions (.85) (1.11) (.77) (.52) (.59) 
Net asset value, end of period $11.62 $12.96 $13.71 $13.30 $12.51 
Total ReturnB,C (4.38)% 3.07% 8.97% 10.81% (2.59)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions 1.10% 1.11% 1.01% .50% .50% 
Expenses net of fee waivers, if any 1.10% 1.11% 1.01% .50% .50% 
Expenses net of all reductions 1.10% 1.11% 1.01% .50% .50% 
Net investment income (loss) 1.21% 1.43% .92% 1.21% 1.37% 
Supplemental Data      
Net assets, end of period (000 omitted) $277,496 $345,810 $374,470 $396,330 $394,406 
Portfolio turnover rateE 25% 22% 20% 19% 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2020 Fund Class C

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $12.86 $13.60 $13.20 $12.42 $13.35 
Income from Investment Operations      
Net investment income (loss)A .09 .12 .06 .09 .11 
Net realized and unrealized gain (loss) (.64) .17 1.05 1.15 (.51) 
Total from investment operations (.55) .29 1.11 1.24 (.40) 
Distributions from net investment income (.11) (.14) (.09) (.10) (.12) 
Distributions from net realized gain (.68) (.90) (.62) (.36) (.41) 
Total distributions (.79) (1.03)B (.71) (.46) (.53) 
Net asset value, end of period $11.52 $12.86 $13.60 $13.20 $12.42 
Total ReturnC,D (4.81)% 2.55% 8.45% 10.26% (3.11)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions 1.60% 1.61% 1.52% 1.00% 1.00% 
Expenses net of fee waivers, if any 1.60% 1.61% 1.52% 1.00% 1.00% 
Expenses net of all reductions 1.60% 1.61% 1.52% 1.00% 1.00% 
Net investment income (loss) .71% .93% .42% .71% .87% 
Supplemental Data      
Net assets, end of period (000 omitted) $46,563 $63,123 $98,878 $101,268 $105,128 
Portfolio turnover rateF 25% 22% 20% 19% 20% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $1.03 per share is comprised of distributions from net investment income of $.137 and distributions from net realized gain of $.895 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2020 Fund Class I

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $13.07 $13.82 $13.41 $12.61 $13.54 
Income from Investment Operations      
Net investment income (loss)A .22 .26 .20 .22 .24 
Net realized and unrealized gain (loss) (.65) .17 1.05 1.16 (.51) 
Total from investment operations (.43) .43 1.25 1.38 (.27) 
Distributions from net investment income (.23) (.26) (.22) (.22) (.25) 
Distributions from net realized gain (.68) (.92) (.62) (.36) (.41) 
Total distributions (.91) (1.18) (.84) (.58) (.66) 
Net asset value, end of period $11.73 $13.07 $13.82 $13.41 $12.61 
Total ReturnB (3.87)% 3.61% 9.45% 11.36% (2.07)% 
Ratios to Average Net AssetsC,D      
Expenses before reductions .60% .61% .52% - %E - %E 
Expenses net of fee waivers, if any .60% .61% .52% -% -% 
Expenses net of all reductions .60% .61% .52% -% -% 
Net investment income (loss) 1.71% 1.92% 1.42% 1.71% 1.87% 
Supplemental Data      
Net assets, end of period (000 omitted) $654,422 $795,372 $803,562 $743,042 $767,908 
Portfolio turnover rateD 25% 22% 20% 19% 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 D Amounts do not include the activity of Underlying Funds.

 E Amount represents less than .005%.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2020 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $13.02 $13.69 
Income from Investment Operations   
Net investment income (loss)B .23 .21 
Net realized and unrealized gain (loss) (.64) (.15)C 
Total from investment operations (.41) .06 
Distributions from net investment income (.28) (.30) 
Distributions from net realized gain (.68) (.43) 
Total distributions (.96) (.73) 
Net asset value, end of period $11.65 $13.02 
Total ReturnD,E (3.82)% .91% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .53%H .54%H,I 
Expenses net of fee waivers, if any .53%H .54%H,I 
Expenses net of all reductions .53%H .54%H,I 
Net investment income (loss) 1.78% 3.41%I 
Supplemental Data   
Net assets, end of period (000 omitted) $33,172 $2,585 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2020 Fund Class Z6

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $13.04 $13.81 $13.62 
Income from Investment Operations    
Net investment income (loss)B .25 .28 .08 
Net realized and unrealized gain (loss) (.65) .17 .75 
Total from investment operations (.40) .45 .83 
Distributions from net investment income (.27) (.30) (.23) 
Distributions from net realized gain (.68) (.92) (.41) 
Total distributions (.95) (1.22) (.64) 
Net asset value, end of period $11.69 $13.04 $13.81 
Total ReturnC,D (3.72)% 3.76% 6.08% 
Ratios to Average Net AssetsE,F    
Expenses before reductions .43% .43% .45%G,H 
Expenses net of fee waivers, if any .43% .43% .45%G,H 
Expenses net of all reductions .43% .43% .45%G,H 
Net investment income (loss) 1.88% 2.10% .71%G 
Supplemental Data    
Net assets, end of period (000 omitted) $57,497 $45,686 $29,132 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

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, 2020

 % of fund's net assets 
Fidelity Series Investment Grade Bond Fund 23.7 
Fidelity Series Emerging Markets Opportunities Fund 7.9 
Fidelity Series Government Money Market Fund 0.4% 6.6 
Fidelity Series Inflation-Protected Bond Index Fund 6.5 
Fidelity Series Large Cap Stock Fund 5.7 
Fidelity Series International Growth Fund 5.6 
Fidelity Series International Value Fund 4.8 
Fidelity Series Overseas Fund 4.7 
Fidelity Series Value Discovery Fund 3.6 
Fidelity Series Stock Selector Large Cap Value Fund 3.6 
 72.7 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 30.8% 
   International Equity Funds 26.4% 
   Bond Funds 34.7% 
   Short-Term Funds 7.9% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.55% 5/7/20 to 6/4/20 (a)   
(Cost $1,228,285) 1,230,000 1,229,793 
 Shares Value 
Domestic Equity Funds - 30.8%   
Fidelity Advisor Series Equity Growth Fund (b) 7,104,800 $87,460,082 
Fidelity Advisor Series Growth Opportunities Fund (b) 5,115,107 56,215,023 
Fidelity Advisor Series Small Cap Fund (b) 4,341,179 36,379,080 
Fidelity Series All-Sector Equity Fund (b) 4,922,515 38,592,517 
Fidelity Series Commodity Strategy Fund (b) 22,807,174 83,246,186 
Fidelity Series Large Cap Stock Fund (b) 11,755,388 140,947,103 
Fidelity Series Large Cap Value Index Fund (b) 1,514,864 14,557,841 
Fidelity Series Opportunistic Insights Fund (b) 5,339,327 81,798,486 
Fidelity Series Small Cap Opportunities Fund (b) 4,541,566 46,096,898 
Fidelity Series Stock Selector Large Cap Value Fund (b) 9,875,995 88,686,437 
Fidelity Series Value Discovery Fund (b) 9,025,163 89,619,864 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $782,602,990)  763,599,517 
International Equity Funds - 26.4%   
Fidelity Series Canada Fund (b) 3,787,036 31,394,529 
Fidelity Series Emerging Markets Fund (b) 2,858,459 20,237,886 
Fidelity Series Emerging Markets Opportunities Fund (b) 12,524,159 195,001,160 
Fidelity Series International Growth Fund (b) 9,635,719 139,525,213 
Fidelity Series International Small Cap Fund (b) 2,417,020 32,315,563 
Fidelity Series International Value Fund (b) 16,722,093 119,395,743 
Fidelity Series Overseas Fund (b) 13,520,168 116,949,455 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $668,461,562)  654,819,549 
Bond Funds - 34.7%   
Fidelity Series Emerging Markets Debt Fund (b) 1,927,771 15,537,834 
Fidelity Series Floating Rate High Income Fund (b) 396,911 3,191,164 
Fidelity Series High Income Fund (b) 2,156,760 17,771,699 
Fidelity Series Inflation-Protected Bond Index Fund (b) 15,916,821 160,441,556 
Fidelity Series International Credit Fund (b) 169,746 1,622,771 
Fidelity Series Investment Grade Bond Fund (b) 51,092,540 589,096,992 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 6,028,939 64,449,359 
Fidelity Series Real Estate Income Fund (b) 1,207,560 10,167,652 
TOTAL BOND FUNDS   
(Cost $837,462,016)  862,279,027 
Short-Term Funds - 7.9%   
Fidelity Cash Central Fund 0.29% (c) 3,766,313 3,767,442 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 164,696,706 164,696,706 
Fidelity Series Short-Term Credit Fund (b) 2,917,035 28,820,302 
TOTAL SHORT-TERM FUNDS   
(Cost $197,539,743)  197,284,450 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $2,487,294,596)  2,479,212,336 
NET OTHER ASSETS (LIABILITIES) - 0.1%  3,197,571 
NET ASSETS - 100%  $2,482,409,907 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,229,793.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $62,972 
Total $62,972 

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 $133,889,507 $17,538,314 $54,339,932 $13,645,790 $10,198,382 $(19,826,189) $87,460,082 
Fidelity Advisor Series Growth Opportunities Fund 92,236,051 19,372,714 40,143,092 16,748,120 9,797,434 (25,048,084) 56,215,023 
Fidelity Advisor Series Small Cap Fund 59,558,327 4,031,087 18,478,815 1,583,890 1,025,309 (9,756,828) 36,379,080 
Fidelity Series All-Sector Equity Fund 60,005,061 8,881,922 22,340,910 6,397,755 (176,407) (7,777,149) 38,592,517 
Fidelity Series Canada Fund 19,112,491 23,111,005 2,641,809 504,780 37,949 (8,225,107) 31,394,529 
Fidelity Series Commodity Strategy Fund 67,813,381 56,548,016 15,578,124 1,579,584 (3,884,242) (21,652,845) 83,246,186 
Fidelity Series Emerging Markets Debt Fund 20,071,618 2,019,120 3,581,786 1,125,663 (139,543) (2,831,575) 15,537,834 
Fidelity Series Emerging Markets Fund 21,387,953 9,868,625 3,322,792 618,610 (202,391) (7,493,509) 20,237,886 
Fidelity Series Emerging Markets Opportunities Fund 200,497,526 62,437,108 29,423,062 6,104,281 (1,368,359) (37,142,053) 195,001,160 
Fidelity Series Floating Rate High Income Fund 3,950,579 373,587 630,499 223,824 (40,911) (461,592) 3,191,164 
Fidelity Series Government Money Market Fund 0.4% 133,487,839 110,599,316 79,390,449 2,638,271 164,696,706 
Fidelity Series High Income Fund 26,316,404 2,113,046 8,107,717 1,371,587 (342,133) (2,207,901) 17,771,699 
Fidelity Series Inflation-Protected Bond Index Fund 120,920,595 74,198,724 38,807,837 2,500,521 327,932 3,802,142 160,441,556 
Fidelity Series International Credit Fund 1,580,415 100,627 100,627 (58,271) 1,622,771 
Fidelity Series International Growth Fund 182,036,344 13,151,302 52,087,359 7,196,537 10,466,941 (14,042,015) 139,525,213 
Fidelity Series International Small Cap Fund 43,024,293 4,880,664 10,617,448 1,883,966 698,799 (5,670,745) 32,315,563 
Fidelity Series International Value Fund 173,983,022 30,263,249 48,281,779 7,605,121 (1,865,645) (34,703,104) 119,395,743 
Fidelity Series Investment Grade Bond Fund 578,541,563 166,402,170 175,220,758 19,416,147 1,085,439 18,288,578 589,096,992 
Fidelity Series Large Cap Stock Fund 224,696,763 23,840,926 77,264,049 14,475,401 (2,326,090) (28,000,447) 140,947,103 
Fidelity Series Large Cap Value Index Fund 24,894,526 2,226,195 8,447,813 1,373,667 1,201,283 (5,316,350) 14,557,841 
Fidelity Series Long-Term Treasury Bond Index Fund 163,441,825 24,175,218 146,230,234 8,237,151 15,195,636 7,866,914 64,449,359 
Fidelity Series Opportunistic Insights Fund 124,294,179 14,327,441 46,831,298 10,675,932 6,292,494 (16,284,330) 81,798,486 
Fidelity Series Overseas Fund 135,728,066 309,911 (18,778,611) 116,949,455 
Fidelity Series Real Estate Income Fund 13,863,553 1,342,376 1,982,440 873,078 (48,107) (3,007,730) 10,167,652 
Fidelity Series Short-Term Credit Fund 33,592,360 9,535,282 14,098,042 872,994 51,422 (260,720) 28,820,302 
Fidelity Series Small Cap Opportunities Fund 76,888,547 7,201,782 22,592,829 4,841,205 1,073,434 (16,474,036) 46,096,898 
Fidelity Series Stock Selector Large Cap Value Fund 148,034,308 15,969,174 49,372,155 8,142,308 826,124 (26,771,014) 88,686,437 
Fidelity Series Value Discovery Fund 145,224,728 13,556,825 46,847,838 5,950,238 2,871,885 (25,185,736) 89,619,864 
 $2,893,343,758 $853,793,881 $1,016,660,866 $146,996,959 $50,756,635 $(307,018,307) $2,474,215,101 

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, 2020, 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 $1,229,793 $-- $1,229,793 $-- 
Domestic Equity Funds 763,599,517 763,599,517 -- -- 
International Equity Funds 654,819,549 654,819,549 -- -- 
Bond Funds 862,279,027 862,279,027 -- -- 
Short-Term Funds 197,284,450 197,284,450 -- -- 
Total Investments in Securities: $2,479,212,336 $2,477,982,543 $1,229,793 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,228,285) 
$1,229,793  
Fidelity Central Funds (cost $3,767,255) 3,767,442  
Other affiliated issuers (cost $2,482,299,056) 2,474,215,101  
Total Investment in Securities (cost $2,487,294,596)  $2,479,212,336 
Segregated cash with brokers for derivative instruments  3,258,422 
Receivable for investments sold  14,944,181 
Receivable for fund shares sold  1,141,101 
Distributions receivable from Fidelity Central Funds  3,159 
Receivable for daily variation margin on futures contracts  426,253 
Total assets  2,498,985,452 
Liabilities   
Payable for investments purchased $87  
Payable for fund shares redeemed 14,780,185  
Accrued management fee 1,367,675  
Distribution and service plan fees payable 427,598  
Total liabilities  16,575,545 
Net Assets  $2,482,409,907 
Net Assets consist of:   
Paid in capital  $2,407,838,212 
Total accumulated earnings (loss)  74,571,695 
Net Assets  $2,482,409,907 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($1,043,442,114 ÷ 90,364,883 shares)(a)  $11.55 
Maximum offering price per share (100/94.25 of $11.55)  $12.25 
Class M:   
Net Asset Value and redemption price per share ($362,131,420 ÷ 31,306,127 shares)(a)  $11.57 
Maximum offering price per share (100/96.50 of $11.57)  $11.99 
Class C:   
Net Asset Value and offering price per share ($51,558,545 ÷ 4,541,554 shares)(a)  $11.35 
Class I:   
Net Asset Value, offering price and redemption price per share ($911,019,816 ÷ 78,134,623 shares)  $11.66 
Class Z:   
Net Asset Value, offering price and redemption price per share ($36,620,348 ÷ 3,163,045 shares)  $11.58 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($77,637,664 ÷ 6,681,628 shares)  $11.62 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $67,112,183 
Interest  23,295 
Income from Fidelity Central Funds  62,972 
Total income  67,198,450 
Expenses   
Management fee $18,673,083  
Distribution and service plan fees 5,946,092  
Independent trustees' fees and expenses 11,299  
Total expenses before reductions 24,630,474  
Expense reductions (98)  
Total expenses after reductions  24,630,376 
Net investment income (loss)  42,568,074 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 9,458  
Fidelity Central Funds  
Other affiliated issuers 50,756,635  
Futures contracts 6,925,604  
Capital gain distributions from underlying funds:   
Affiliated issuers 79,884,776  
Total net realized gain (loss)  137,576,481 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 1,456  
Fidelity Central Funds 155  
Other affiliated issuers (307,018,307)  
Futures contracts 248,479  
Total change in net unrealized appreciation (depreciation)  (306,768,217) 
Net gain (loss)  (169,191,736) 
Net increase (decrease) in net assets resulting from operations  $(126,623,662) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $42,568,074 $48,268,541 
Net realized gain (loss) 137,576,481 193,007,928 
Change in net unrealized appreciation (depreciation) (306,768,217) (144,992,172) 
Net increase (decrease) in net assets resulting from operations (126,623,662) 96,284,297 
Distributions to shareholders (191,668,113) (246,718,993) 
Share transactions - net increase (decrease) (102,512,436) 44,282,154 
Total increase (decrease) in net assets (420,804,211) (106,152,542) 
Net Assets   
Beginning of period 2,903,214,118 3,009,366,660 
End of period $2,482,409,907 $2,903,214,118 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $12.99 $13.74 $13.16 $12.29 $13.25 
Income from Investment Operations      
Net investment income (loss)A .18 .21 .15 .18 .19 
Net realized and unrealized gain (loss) (.76) .18 1.15 1.24 (.54) 
Total from investment operations (.58) .39 1.30 1.42 (.35) 
Distributions from net investment income (.19) (.21) (.17) (.18) (.20) 
Distributions from net realized gain (.67) (.93) (.55) (.37) (.42) 
Total distributions (.86) (1.14) (.72) (.55) (.61)B 
Net asset value, end of period $11.55 $12.99 $13.74 $13.16 $12.29 
Total ReturnC,D (5.09)% 3.34% 9.96% 12.00% (2.72)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .89% .90% .80% .25% .25% 
Expenses net of fee waivers, if any .89% .90% .80% .25% .25% 
Expenses net of all reductions .89% .90% .80% .25% .25% 
Net investment income (loss) 1.40% 1.62% 1.11% 1.43% 1.53% 
Supplemental Data      
Net assets, end of period (000 omitted) $1,043,442 $1,304,020 $1,435,987 $1,503,384 $1,543,665 
Portfolio turnover rateF 29% 24% 23% 20% 24% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.61 per share is comprised of distributions from net investment income of $.195 and distributions from net realized gain of $.419 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 sales charges.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2025 Fund Class M

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $13.01 $13.76 $13.18 $12.31 $13.27 
Income from Investment Operations      
Net investment income (loss)A .15 .18 .12 .15 .16 
Net realized and unrealized gain (loss) (.76) .18 1.15 1.24 (.54) 
Total from investment operations (.61) .36 1.27 1.39 (.38) 
Distributions from net investment income (.16) (.19) (.14) (.15) (.16) 
Distributions from net realized gain (.67) (.92) (.55) (.37) (.42) 
Total distributions (.83) (1.11) (.69) (.52) (.58) 
Net asset value, end of period $11.57 $13.01 $13.76 $13.18 $12.31 
Total ReturnB,C (5.31)% 3.09% 9.69% 11.70% (2.95)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions 1.14% 1.15% 1.05% .50% .50% 
Expenses net of fee waivers, if any 1.14% 1.15% 1.05% .50% .50% 
Expenses net of all reductions 1.14% 1.15% 1.05% .50% .50% 
Net investment income (loss) 1.15% 1.37% .86% 1.18% 1.28% 
Supplemental Data      
Net assets, end of period (000 omitted) $362,131 $423,584 $432,227 $418,713 $399,088 
Portfolio turnover rateE 29% 24% 23% 20% 24% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2025 Fund Class C

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $12.80 $13.54 $12.98 $12.14 $13.09 
Income from Investment Operations      
Net investment income (loss)A .08 .11 .05 .08 .10 
Net realized and unrealized gain (loss) (.75) .18 1.13 1.23 (.53) 
Total from investment operations (.67) .29 1.18 1.31 (.43) 
Distributions from net investment income (.11) (.13) (.08) (.10) (.11) 
Distributions from net realized gain (.66) (.91) (.54) (.37) (.41) 
Total distributions (.78)B (1.03)C (.62) (.47) (.52) 
Net asset value, end of period $11.35 $12.80 $13.54 $12.98 $12.14 
Total ReturnD,E (5.85)% 2.59% 9.14% 11.13% (3.40)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions 1.64% 1.65% 1.55% 1.00% 1.00% 
Expenses net of fee waivers, if any 1.64% 1.65% 1.55% 1.00% 1.00% 
Expenses net of all reductions 1.64% 1.65% 1.55% 1.00% 1.00% 
Net investment income (loss) .65% .87% .36% .68% .78% 
Supplemental Data      
Net assets, end of period (000 omitted) $51,559 $64,691 $97,691 $97,994 $91,941 
Portfolio turnover rateG 29% 24% 23% 20% 24% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.78 per share is comprised of distributions from net investment income of $.112 and distributions from net realized gain of $.664 per share.

 C Total distributions of $1.03 per share is comprised of distributions from net investment income of $.128 and distributions from net realized gain of $.905 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2025 Fund Class I

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $13.11 $13.86 $13.27 $12.39 $13.35 
Income from Investment Operations      
Net investment income (loss)A .22 .25 .19 .21 .23 
Net realized and unrealized gain (loss) (.77) .18 1.16 1.26 (.54) 
Total from investment operations (.55) .43 1.35 1.47 (.31) 
Distributions from net investment income (.22) (.25) (.21) (.21) (.23) 
Distributions from net realized gain (.67) (.93) (.55) (.37) (.42) 
Total distributions (.90)B (1.18) (.76) (.59)C (.65) 
Net asset value, end of period $11.66 $13.11 $13.86 $13.27 $12.39 
Total ReturnD (4.89)% 3.63% 10.26% 12.26% (2.44)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .64% .65% .56% - %G - %G 
Expenses net of fee waivers, if any .64% .65% .56% -% -% 
Expenses net of all reductions .64% .65% .56% -% -% 
Net investment income (loss) 1.65% 1.87% 1.35% 1.68% 1.78% 
Supplemental Data      
Net assets, end of period (000 omitted) $911,020 $1,051,420 $1,018,536 $879,740 $870,772 
Portfolio turnover rateF 29% 24% 23% 20% 24% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.90 per share is comprised of distributions from net investment income of $.223 and distributions from net realized gain of $.672 per share.

 C Total distributions of $.59 per share is comprised of distributions from net investment income of $.212 and distributions from net realized gain of $.373 per share.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Amount represents less than .005%.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2025 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $13.05 $13.78 
Income from Investment Operations   
Net investment income (loss)B .23 .03 
Net realized and unrealized gain (loss) (.76) (.02)C 
Total from investment operations (.53) .01 
Distributions from net investment income (.27) (.30) 
Distributions from net realized gain (.67) (.44) 
Total distributions (.94) (.74) 
Net asset value, end of period $11.58 $13.05 
Total ReturnD,E (4.77)% .56% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .56% .56%H 
Expenses net of fee waivers, if any .56% .56%H 
Expenses net of all reductions .56% .56%H 
Net investment income (loss) 1.74% .43%H 
Supplemental Data   
Net assets, end of period (000 omitted) $36,620 $3,396 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2025 Fund Class Z6

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $13.08 $13.85 $13.53 
Income from Investment Operations    
Net investment income (loss)B .24 .27 .10 
Net realized and unrealized gain (loss) (.77) .18 .80 
Total from investment operations (.53) .45 .90 
Distributions from net investment income (.26) (.29) (.22) 
Distributions from net realized gain (.67) (.93) (.36) 
Total distributions (.93) (1.22) (.58) 
Net asset value, end of period $11.62 $13.08 $13.85 
Total ReturnC,D (4.72)% 3.85% 6.61% 
Ratios to Average Net AssetsE,F    
Expenses before reductions .45% .45% .47%G,H 
Expenses net of fee waivers, if any .45% .45% .47%G,H 
Expenses net of all reductions .45% .45% .47%G,H 
Net investment income (loss) 1.85% 2.07% .89%G 
Supplemental Data    
Net assets, end of period (000 omitted) $77,638 $56,103 $24,926 
Portfolio turnover rateF 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

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, 2020

 % of fund's net assets 
Fidelity Series Investment Grade Bond Fund 20.0 
Fidelity Series Emerging Markets Opportunities Fund 8.7 
Fidelity Series Large Cap Stock Fund 6.8 
Fidelity Series International Growth Fund 6.4 
Fidelity Series International Value Fund 5.6 
Fidelity Series Overseas Fund 5.4 
Fidelity Series Inflation-Protected Bond Index Fund 5.3 
Fidelity Series Value Discovery Fund 4.4 
Fidelity Advisor Series Equity Growth Fund 4.3 
Fidelity Series Stock Selector Large Cap Value Fund 4.2 
 71.1 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 36.5% 
   International Equity Funds 30.0% 
   Bond Funds 29.8% 
   Short-Term Funds 3.5% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $1,128,565) 1,130,000 1,129,793 
 Shares Value 
Domestic Equity Funds - 36.5%   
Fidelity Advisor Series Equity Growth Fund (b) 9,036,609 $111,240,654 
Fidelity Advisor Series Growth Opportunities Fund (b) 6,507,777 71,520,474 
Fidelity Advisor Series Small Cap Fund (b) 5,530,384 46,344,617 
Fidelity Series All-Sector Equity Fund (b) 6,142,262 48,155,332 
Fidelity Series Commodity Strategy Fund (b) 24,047,495 87,773,356 
Fidelity Series Large Cap Stock Fund (b) 14,801,659 177,471,890 
Fidelity Series Large Cap Value Index Fund (b) 1,928,350 18,531,443 
Fidelity Series Opportunistic Insights Fund (b) 6,790,588 104,031,816 
Fidelity Series Small Cap Opportunities Fund (b) 5,780,610 58,673,187 
Fidelity Series Stock Selector Large Cap Value Fund (b) 12,188,597 109,453,601 
Fidelity Series Value Discovery Fund (b) 11,438,272 113,582,046 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $975,587,986)  946,778,416 
International Equity Funds - 30.0%   
Fidelity Series Canada Fund (b) 4,536,341 37,606,265 
Fidelity Series Emerging Markets Fund (b) 3,367,616 23,842,722 
Fidelity Series Emerging Markets Opportunities Fund (b) 14,566,235 226,796,283 
Fidelity Series International Growth Fund (b) 11,525,099 166,883,436 
Fidelity Series International Small Cap Fund (b) 2,882,189 38,534,871 
Fidelity Series International Value Fund (b) 20,230,988 144,449,251 
Fidelity Series Overseas Fund (b) 16,307,134 141,056,710 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $806,142,370)  779,169,538 
Bond Funds - 29.8%   
Fidelity Series Emerging Markets Debt Fund (b) 2,022,608 16,302,221 
Fidelity Series Floating Rate High Income Fund (b) 406,162 3,265,544 
Fidelity Series High Income Fund (b) 2,297,797 18,933,845 
Fidelity Series Inflation-Protected Bond Index Fund (b) 13,600,624 137,094,285 
Fidelity Series International Credit Fund (b) 166,430 1,591,074 
Fidelity Series Investment Grade Bond Fund (b) 45,071,067 519,669,402 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 6,203,503 66,315,452 
Fidelity Series Real Estate Income Fund (b) 1,247,764 10,506,176 
TOTAL BOND FUNDS   
(Cost $752,203,464)  773,677,999 
Short-Term Funds - 3.5%   
Fidelity Cash Central Fund 0.29% (c) 4,744,627 4,746,050 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 81,086,548 81,086,548 
Fidelity Series Short-Term Credit Fund (b) 477,649 4,719,175 
TOTAL SHORT-TERM FUNDS   
(Cost $90,542,891)  90,551,773 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $2,625,605,276)  2,591,307,519 
NET OTHER ASSETS (LIABILITIES) - 0.1%  3,393,078 
NET ASSETS - 100%  $2,594,700,597 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,129,793.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $74,965 
Total $74,965 

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 $164,060,070 $23,447,765 $63,929,510 $17,036,706 $10,959,024 $(23,296,695) $111,240,654 
Fidelity Advisor Series Growth Opportunities Fund 109,846,006 25,334,531 44,223,114 21,000,736 10,322,079 (29,759,028) 71,520,474 
Fidelity Advisor Series Small Cap Fund 73,914,014 5,440,643 21,962,103 2,010,017 1,376,685 (12,424,622) 46,344,617 
Fidelity Series All-Sector Equity Fund 72,450,297 11,015,503 25,354,407 7,968,943 288,167 (10,244,228) 48,155,332 
Fidelity Series Canada Fund 22,832,798 27,099,051 2,797,959 589,820 39,371 (9,566,996) 37,606,265 
Fidelity Series Commodity Strategy Fund 68,895,139 60,654,942 14,800,197 1,642,598 (3,944,964) (23,031,564) 87,773,356 
Fidelity Series Emerging Markets Debt Fund 19,834,842 2,084,554 2,476,969 1,136,045 (85,223) (3,054,983) 16,302,221 
Fidelity Series Emerging Markets Fund 24,520,099 11,319,530 3,028,303 723,779 (195,332) (8,773,272) 23,842,722 
Fidelity Series Emerging Markets Opportunities Fund 231,889,100 66,659,245 26,561,278 7,141,930 (1,011,211) (44,179,573) 226,796,283 
Fidelity Series Floating Rate High Income Fund 3,894,582 432,420 551,958 223,605 (27,761) (481,739) 3,265,544 
Fidelity Series Government Money Market Fund 0.4% 39,180,732 107,214,159 65,308,343 701,856 81,086,548 
Fidelity Series High Income Fund 26,491,659 2,445,614 7,308,029 1,426,970 (237,452) (2,457,947) 18,933,845 
Fidelity Series Inflation-Protected Bond Index Fund 41,305,577 113,993,986 19,974,666 1,827,835 69,115 1,700,273 137,094,285 
Fidelity Series International Credit Fund 1,549,545 98,661 98,662 (57,132) 1,591,074 
Fidelity Series International Growth Fund 218,093,372 18,313,510 65,218,790 8,706,721 12,767,130 (17,071,786) 166,883,436 
Fidelity Series International Small Cap Fund 50,929,926 4,650,393 10,809,583 2,245,759 479,205 (6,715,070) 38,534,871 
Fidelity Series International Value Fund 209,358,613 34,677,788 54,692,173 9,225,961 (3,294,370) (41,600,607) 144,449,251 
Fidelity Series Investment Grade Bond Fund 457,229,674 186,022,629 138,993,041 16,380,999 899,074 14,511,066 519,669,402 
Fidelity Series Large Cap Stock Fund 282,754,506 30,351,257 97,678,150 18,059,009 (2,639,086) (35,316,637) 177,471,890 
Fidelity Series Large Cap Value Index Fund 31,405,664 3,030,904 10,707,223 1,721,428 1,470,062 (6,667,964) 18,531,443 
Fidelity Series Long-Term Treasury Bond Index Fund 171,081,450 26,989,457 156,436,879 8,646,741 16,437,236 8,244,188 66,315,452 
Fidelity Series Opportunistic Insights Fund 152,892,141 19,434,880 55,381,167 13,355,139 4,356,942 (17,270,980) 104,031,816 
Fidelity Series Overseas Fund 163,608,939 398,706 (22,552,229) 141,056,710 
Fidelity Series Real Estate Income Fund 13,861,248 1,537,917 1,739,982 883,632 (52,008) (3,100,999) 10,506,176 
Fidelity Series Short-Term Credit Fund 9,799,575 4,239,167 9,345,513 211,861 75,934 (49,988) 4,719,175 
Fidelity Series Small Cap Opportunities Fund 95,596,558 10,025,368 27,556,590 6,051,549 547,259 (19,939,408) 58,673,187 
Fidelity Series Stock Selector Large Cap Value Fund 184,673,503 17,744,988 60,216,875 10,183,732 (2,262,291) (30,485,724) 109,453,601 
Fidelity Series Value Discovery Fund 181,556,710 18,238,025 57,968,696 7,431,239 544,332 (28,788,325) 113,582,046 
 $2,959,897,400 $996,105,826 $1,045,021,498 $167,031,978 $46,881,917 $(372,431,969) $2,585,431,676 

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.

Investment Valuation

The following is a summary of the inputs used, as of March 31, 2020, 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 $1,129,793 $-- $1,129,793 $-- 
Domestic Equity Funds 946,778,416 946,778,416 -- -- 
International Equity Funds 779,169,538 779,169,538 -- -- 
Bond Funds 773,677,999 773,677,999 -- -- 
Short-Term Funds 90,551,773 90,551,773 -- -- 
Total Investments in Securities: $2,591,307,519 $2,590,177,726 $1,129,793 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,128,565) 
$1,129,793  
Fidelity Central Funds (cost $4,745,789) 4,746,050  
Other affiliated issuers (cost $2,619,730,922) 2,585,431,676  
Total Investment in Securities (cost $2,625,605,276)  $2,591,307,519 
Segregated cash with brokers for derivative instruments  3,465,412 
Receivable for investments sold  23,793,596 
Receivable for fund shares sold  1,854,512 
Distributions receivable from Fidelity Central Funds  3,653 
Receivable for daily variation margin on futures contracts  437,177 
Total assets  2,620,861,869 
Liabilities   
Payable for investments purchased $6,273  
Payable for fund shares redeemed 24,191,136  
Accrued management fee 1,519,589  
Distribution and service plan fees payable 444,274  
Total liabilities  26,161,272 
Net Assets  $2,594,700,597 
Net Assets consist of:   
Paid in capital  $2,532,540,520 
Total accumulated earnings (loss)  62,160,077 
Net Assets  $2,594,700,597 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($1,041,706,351 ÷ 85,310,311 shares)(a)  $12.21 
Maximum offering price per share (100/94.25 of $12.21)  $12.95 
Class M:   
Net Asset Value and redemption price per share ($391,371,203 ÷ 32,254,841 shares)(a)  $12.13 
Maximum offering price per share (100/96.50 of $12.13)  $12.57 
Class C:   
Net Asset Value and offering price per share ($55,554,203 ÷ 4,649,708 shares)(a)  $11.95 
Class I:   
Net Asset Value, offering price and redemption price per share ($984,341,072 ÷ 80,115,126 shares)  $12.29 
Class Z:   
Net Asset Value, offering price and redemption price per share ($38,041,485 ÷ 3,117,281 shares)  $12.20 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($83,686,283 ÷ 6,835,147 shares)  $12.24 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $69,434,671 
Interest  26,894 
Income from Fidelity Central Funds  74,965 
Total income  69,536,530 
Expenses   
Management fee $20,664,912  
Distribution and service plan fees 6,147,964  
Independent trustees' fees and expenses 11,720  
Total expenses before reductions 26,824,596  
Expense reductions (192)  
Total expenses after reductions  26,824,404 
Net investment income (loss)  42,712,126 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 11,761  
Fidelity Central Funds 10  
Other affiliated issuers 46,881,917  
Futures contracts 7,396,332  
Capital gain distributions from underlying funds:   
Affiliated issuers 97,597,307  
Total net realized gain (loss)  151,887,327 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 1,140  
Fidelity Central Funds 208  
Other affiliated issuers (372,431,969)  
Futures contracts 340,139  
Total change in net unrealized appreciation (depreciation)  (372,090,482) 
Net gain (loss)  (220,203,155) 
Net increase (decrease) in net assets resulting from operations  $(177,491,029) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $42,712,126 $47,515,441 
Net realized gain (loss) 151,887,327 225,901,124 
Change in net unrealized appreciation (depreciation) (372,090,482) (173,882,296) 
Net increase (decrease) in net assets resulting from operations (177,491,029) 99,534,269 
Distributions to shareholders (210,658,751) (274,553,385) 
Share transactions - net increase (decrease) 10,421,348 154,113,608 
Total increase (decrease) in net assets (377,728,432) (20,905,508) 
Net Assets   
Beginning of period 2,972,429,029 2,993,334,537 
End of period $2,594,700,597 $2,972,429,029 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $14.01 $14.95 $14.12 $12.99 $14.13 
Income from Investment Operations      
Net investment income (loss)A .19 .23 .15 .18 .19 
Net realized and unrealized gain (loss) (1.01) .19 1.50 1.57 (.64) 
Total from investment operations (.82) .42 1.65 1.75 (.45) 
Distributions from net investment income (.19) (.24) (.16) (.18) (.19) 
Distributions from net realized gain (.79) (1.13) (.66) (.44) (.50) 
Total distributions (.98) (1.36)B (.82) (.62) (.69) 
Net asset value, end of period $12.21 $14.01 $14.95 $14.12 $12.99 
Total ReturnC,D (6.61)% 3.43% 11.80% 14.02% (3.36)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .94% .94%G .84% .25% .25% 
Expenses net of fee waivers, if any .94% .94%G .84% .25% .25% 
Expenses net of all reductions .94% .94%G .84% .25% .25% 
Net investment income (loss) 1.35% 1.57% .99% 1.34% 1.39% 
Supplemental Data      
Net assets, end of period (000 omitted) $1,041,706 $1,279,896 $1,374,112 $1,414,388 $1,409,909 
Portfolio turnover rateF 33% 22% 25% 18% 22% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $1.36 per share is comprised of distributions from net investment income of $.235 and distributions from net realized gain of $1.127 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 sales charges.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2030 Fund Class M

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $13.93 $14.88 $14.06 $12.94 $14.09 
Income from Investment Operations      
Net investment income (loss)A .15 .19 .11 .15 .15 
Net realized and unrealized gain (loss) (1.00) .19 1.50 1.56 (.64) 
Total from investment operations (.85) .38 1.61 1.71 (.49) 
Distributions from net investment income (.17) (.21) (.13) (.15) (.16) 
Distributions from net realized gain (.78) (1.12) (.66) (.44) (.50) 
Total distributions (.95) (1.33) (.79) (.59) (.66) 
Net asset value, end of period $12.13 $13.93 $14.88 $14.06 $12.94 
Total ReturnB,C (6.84)% 3.12% 11.53% 13.74% (3.67)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions 1.19% 1.19%F 1.09% .50% .50% 
Expenses net of fee waivers, if any 1.19% 1.19%F 1.09% .50% .50% 
Expenses net of all reductions 1.19% 1.19%F 1.09% .50% .50% 
Net investment income (loss) 1.10% 1.32% .74% 1.09% 1.14% 
Supplemental Data      
Net assets, end of period (000 omitted) $391,371 $453,917 $452,750 $442,505 $423,312 
Portfolio turnover rateE 33% 22% 25% 18% 22% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2030 Fund Class C

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $13.75 $14.71 $13.92 $12.83 $13.97 
Income from Investment Operations      
Net investment income (loss)A .08 .12 .03 .08 .08 
Net realized and unrealized gain (loss) (.98) .18 1.48 1.55 (.63) 
Total from investment operations (.90) .30 1.51 1.63 (.55) 
Distributions from net investment income (.12) (.15) (.07) (.10) (.11) 
Distributions from net realized gain (.78) (1.11) (.65) (.44) (.48) 
Total distributions (.90) (1.26) (.72) (.54) (.59) 
Net asset value, end of period $11.95 $13.75 $14.71 $13.92 $12.83 
Total ReturnB,C (7.25)% 2.57% 10.97% 13.21% (4.10)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions 1.69% 1.69%F 1.59% 1.00% 1.00% 
Expenses net of fee waivers, if any 1.69% 1.69%F 1.59% 1.00% 1.00% 
Expenses net of all reductions 1.69% 1.69%F 1.59% 1.00% 1.00% 
Net investment income (loss) .60% .82% .24% .59% .64% 
Supplemental Data      
Net assets, end of period (000 omitted) $55,554 $66,505 $96,199 $94,517 $87,691 
Portfolio turnover rateE 33% 22% 25% 18% 22% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2030 Fund Class I

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $14.09 $15.04 $14.21 $13.06 $14.21 
Income from Investment Operations      
Net investment income (loss)A .23 .26 .18 .21 .22 
Net realized and unrealized gain (loss) (1.01) .19 1.51 1.59 (.65) 
Total from investment operations (.78) .45 1.69 1.80 (.43) 
Distributions from net investment income (.22) (.27) (.21) (.21) (.23) 
Distributions from net realized gain (.80) (1.14) (.66) (.44) (.50) 
Total distributions (1.02) (1.40)B (.86)C (.65) (.72)D 
Net asset value, end of period $12.29 $14.09 $15.04 $14.21 $13.06 
Total ReturnE (6.32)% 3.65% 12.04% 14.38% (3.16)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .69% .69%H .60% - %I - %I 
Expenses net of fee waivers, if any .69% .69%H .60% -% -% 
Expenses net of all reductions .69% .69%H .60% -% -% 
Net investment income (loss) 1.60% 1.82% 1.23% 1.59% 1.64% 
Supplemental Data      
Net assets, end of period (000 omitted) $984,341 $1,108,684 $1,043,420 $871,845 $861,408 
Portfolio turnover rateG 33% 22% 25% 18% 22% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $1.40 per share is comprised of distributions from net investment income of $.266 and distributions from net realized gain of $1.137 per share.

 C Total distributions of $.86 per share is comprised of distributions from net investment income of $.205 and distributions from net realized gain of $.656 per share.

 D Total distributions of $.72 per share is comprised of distributions from net investment income of $.225 and distributions from net realized gain of $.499 per share.

 E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Amount represents less than .005%.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2030 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $14.03 $14.99 
Income from Investment Operations   
Net investment income (loss)B .24 .04 
Net realized and unrealized gain (loss) (1.01) (.15)C 
Total from investment operations (.77) (.11) 
Distributions from net investment income (.25) (.33) 
Distributions from net realized gain (.82) (.53) 
Total distributions (1.06)D (.85)E 
Net asset value, end of period $12.20 $14.03 
Total ReturnF,G (6.28)% (.09)% 
Ratios to Average Net AssetsH,I   
Expenses before reductions .60%J .60%K 
Expenses net of fee waivers, if any .60%J .60%K 
Expenses net of all reductions .60%J .60%K 
Net investment income (loss) 1.69% .65%K 
Supplemental Data   
Net assets, end of period (000 omitted) $38,041 $2,948 
Portfolio turnover rateI 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 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 distributions of $1.06 per share is comprised of distributions from net investment income of $.246 and distributions from net realized gain of $.818 per share.

 E Total distributions of $.85 per share is comprised of distributions from net investment income of $.327 and distributions from net realized gain of $.527 per share.

 F Total returns for periods of less than one year are not annualized.

 G Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 I Amounts do not include the activity of Underlying Funds.

 J On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 K Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2030 Fund Class Z6

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $14.05 $15.03 $14.53 
Income from Investment Operations    
Net investment income (loss)B .26 .29 .16 
Net realized and unrealized gain (loss) (1.01) .19 .99 
Total from investment operations (.75) .48 1.15 
Distributions from net investment income (.25) (.30) (.23) 
Distributions from net realized gain (.81) (1.15) (.42) 
Total distributions (1.06) (1.46)C (.65) 
Net asset value, end of period $12.24 $14.05 $15.03 
Total ReturnD,E (6.16)% 3.84% 7.90% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .47% .47% .49%H,I 
Expenses net of fee waivers, if any .47% .47% .49%H,I 
Expenses net of all reductions .47% .47% .49%H,I 
Net investment income (loss) 1.82% 2.05% 1.29%H 
Supplemental Data    
Net assets, end of period (000 omitted) $83,686 $60,480 $26,854 
Portfolio turnover rateG 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 of $1.46 per share is comprised of distributions from net investment income of $.301 and distributions from net realized gain of $1.154 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

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, 2020

 % of fund's net assets 
Fidelity Series Emerging Markets Opportunities Fund 10.2 
Fidelity Series Large Cap Stock Fund 8.8 
Fidelity Series Investment Grade Bond Fund 8.2 
Fidelity Series International Growth Fund 7.7 
Fidelity Series International Value Fund 6.8 
Fidelity Series Overseas Fund 6.3 
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 5.2 
 69.7 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 45.9% 
   International Equity Funds 35.7% 
   Bond Funds 14.7% 
   Short-Term Funds 3.5% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $1,997,076) 2,000,000 1,999,635 
 Shares Value 
Domestic Equity Funds - 45.9%   
Fidelity Advisor Series Equity Growth Fund (b) 9,303,173 $114,522,055 
Fidelity Advisor Series Growth Opportunities Fund (b) 6,700,540 73,638,931 
Fidelity Advisor Series Small Cap Fund (b) 5,698,322 47,751,941 
Fidelity Series All-Sector Equity Fund (b) 6,325,338 49,590,654 
Fidelity Series Commodity Strategy Fund (b) 18,726,708 68,352,483 
Fidelity Series Large Cap Stock Fund (b) 15,244,561 182,782,284 
Fidelity Series Large Cap Value Index Fund (b) 1,986,350 19,088,826 
Fidelity Series Opportunistic Insights Fund (b) 6,990,541 107,095,088 
Fidelity Series Small Cap Opportunities Fund (b) 5,954,131 60,434,430 
Fidelity Series Stock Selector Large Cap Value Fund (b) 12,556,252 112,755,143 
Fidelity Series Value Discovery Fund (b) 11,780,213 116,977,516 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $996,714,273)  952,989,351 
International Equity Funds - 35.7%   
Fidelity Series Canada Fund (b) 4,466,148 37,024,368 
Fidelity Series Emerging Markets Fund (b) 3,175,829 22,484,870 
Fidelity Series Emerging Markets Opportunities Fund (b) 13,588,807 211,577,730 
Fidelity Series International Growth Fund (b) 11,016,985 159,525,947 
Fidelity Series International Small Cap Fund (b) 2,832,645 37,872,465 
Fidelity Series International Value Fund (b) 19,783,779 141,256,185 
Fidelity Series Overseas Fund (b) 15,178,491 131,293,945 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $779,035,573)  741,035,510 
Bond Funds - 14.7%   
Fidelity Series Emerging Markets Debt Fund (b) 1,610,662 12,981,935 
Fidelity Series Floating Rate High Income Fund (b) 314,912 2,531,893 
Fidelity Series High Income Fund (b) 1,895,609 15,619,822 
Fidelity Series Inflation-Protected Bond Index Fund (b) 4,293,962 43,283,139 
Fidelity Series International Credit Fund (b) 131,374 1,255,935 
Fidelity Series Investment Grade Bond Fund (b) 14,782,890 170,446,727 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 4,634,314 49,540,814 
Fidelity Series Real Estate Income Fund (b) 1,004,801 8,460,420 
TOTAL BOND FUNDS   
(Cost $298,690,227)  304,120,685 
Short-Term Funds - 3.5%   
Fidelity Cash Central Fund 0.29% (c) 6,775,482 6,777,514 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 61,123,470 61,123,470 
Fidelity Series Short-Term Credit Fund (b) 401,424 3,966,069 
TOTAL SHORT-TERM FUNDS   
(Cost $71,858,409)  71,867,053 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $2,148,295,558)  2,072,012,234 
NET OTHER ASSETS (LIABILITIES) - 0.1%  1,311,796 
NET ASSETS - 100%  $2,073,324,030 

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,999,635.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $55,386 
Total $55,386 

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 $163,199,101 $25,028,006 $60,646,745 $17,445,721 $7,827,453 $(20,885,760) $114,522,055 
Fidelity Advisor Series Growth Opportunities Fund 113,155,881 26,451,222 45,969,538 21,460,466 10,806,694 (30,805,328) 73,638,931 
Fidelity Advisor Series Small Cap Fund 73,364,029 5,683,059 19,799,373 2,026,885 330,238 (11,826,012) 47,751,941 
Fidelity Series All-Sector Equity Fund 72,167,804 11,568,101 23,714,587 8,160,380 185,321 (10,615,985) 49,590,654 
Fidelity Series Canada Fund 21,627,882 27,722,447 2,653,356 577,952 44,087 (9,716,692) 37,024,368 
Fidelity Series Commodity Strategy Fund 55,243,606 51,933,724 16,845,888 1,346,549 (5,641,216) (16,337,743) 68,352,483 
Fidelity Series Emerging Markets Debt Fund 15,328,974 2,454,169 2,208,600 896,249 (149,844) (2,442,764) 12,981,935 
Fidelity Series Emerging Markets Fund 22,456,421 10,916,312 2,430,430 687,006 (160,400) (8,297,033) 22,484,870 
Fidelity Series Emerging Markets Opportunities Fund 209,692,371 67,840,603 22,984,782 6,778,916 (1,100,513) (41,869,949) 211,577,730 
Fidelity Series Floating Rate High Income Fund 2,958,818 367,255 400,850 171,569 (11,561) (381,769) 2,531,893 
Fidelity Series Government Money Market Fund 0.4% 31,508,841 80,649,117 51,034,488 564,157 61,123,470 
Fidelity Series High Income Fund 21,041,620 2,121,279 5,326,343 1,163,319 (104,596) (2,112,138) 15,619,822 
Fidelity Series Inflation-Protected Bond Index Fund 6,935,494 47,535,435 11,522,727 649,297 46,991 287,946 43,283,139 
Fidelity Series International Credit Fund 1,223,153 77,880 77,880 (45,098) 1,255,935 
Fidelity Series International Growth Fund 209,106,186 19,302,080 64,830,167 8,470,914 10,486,078 (14,538,230) 159,525,947 
Fidelity Series International Small Cap Fund 48,579,447 4,883,672 9,220,801 2,179,620 (124,697) (6,245,156) 37,872,465 
Fidelity Series International Value Fund 198,463,196 35,413,274 48,469,511 9,026,965 (3,592,765) (40,558,009) 141,256,185 
Fidelity Series Investment Grade Bond Fund 65,120,663 132,157,358 28,988,872 4,110,606 62,515 2,095,063 170,446,727 
Fidelity Series Large Cap Stock Fund 272,585,994 31,746,293 81,911,161 18,083,472 (2,263,891) (37,374,951) 182,782,284 
Fidelity Series Large Cap Value Index Fund 29,582,499 3,214,501 8,285,928 1,758,414 877,696 (6,299,942) 19,088,826 
Fidelity Series Long-Term Treasury Bond Index Fund 137,577,206 25,419,007 133,620,629 7,094,180 14,687,026 5,478,204 49,540,814 
Fidelity Series Opportunistic Insights Fund 151,567,911 20,705,608 51,560,194 13,666,434 1,508,538 (15,126,775) 107,095,088 
Fidelity Series Overseas Fund 153,419,463 410,231 (22,125,518) 131,293,945 
Fidelity Series Real Estate Income Fund 10,940,922 1,317,903 1,262,669 704,750 (50,263) (2,485,473) 8,460,420 
Fidelity Series Short-Term Credit Fund 7,880,473 3,755,219 7,690,184 166,546 64,558 (43,997) 3,966,069 
Fidelity Series Small Cap Opportunities Fund 93,833,213 10,620,955 24,128,925 6,069,823 (839,902) (19,050,911) 60,434,430 
Fidelity Series Stock Selector Large Cap Value Fund 176,878,931 19,116,299 48,898,038 10,437,278 (3,242,965) (31,099,084) 112,755,143 
Fidelity Series Value Discovery Fund 172,669,131 19,513,618 45,851,272 7,616,354 (979,370) (28,374,591) 116,977,516 
 $2,384,689,767 $840,933,859 $820,256,058 $151,801,933 $28,665,212 $(370,797,695) $2,063,235,085 

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, 2020, 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 $1,999,635 $-- $1,999,635 $-- 
Domestic Equity Funds 952,989,351 952,989,351 -- -- 
International Equity Funds 741,035,510 741,035,510 -- -- 
Bond Funds 304,120,685 304,120,685 -- -- 
Short-Term Funds 71,867,053 71,867,053 -- -- 
Total Investments in Securities: $2,072,012,234 $2,070,012,599 $1,999,635 $-- 

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,997,076) 
$1,999,635  
Fidelity Central Funds (cost $6,777,198) 6,777,514  
Other affiliated issuers (cost $2,139,521,284) 2,063,235,085  
Total Investment in Securities (cost $2,148,295,558)  $2,072,012,234 
Segregated cash with brokers for derivative instruments  1,392,198 
Receivable for investments sold  13,276,859 
Receivable for fund shares sold  1,439,371 
Distributions receivable from Fidelity Central Funds  4,003 
Receivable for daily variation margin on futures contracts  321,489 
Total assets  2,088,446,154 
Liabilities   
Payable for investments purchased $277  
Payable for fund shares redeemed 13,482,705  
Accrued management fee 1,292,264  
Distribution and service plan fees payable 346,878  
Total liabilities  15,122,124 
Net Assets  $2,073,324,030 
Net Assets consist of:   
Paid in capital  $2,066,133,842 
Total accumulated earnings (loss)  7,190,188 
Net Assets  $2,073,324,030 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($824,791,813 ÷ 71,962,077 shares)(a)  $11.46 
Maximum offering price per share (100/94.25 of $11.46)  $12.16 
Class M:   
Net Asset Value and redemption price per share ($310,544,154 ÷ 27,411,945 shares)(a)  $11.33 
Maximum offering price per share (100/96.50 of $11.33)  $11.74 
Class C:   
Net Asset Value and offering price per share ($37,641,712 ÷ 3,393,857 shares)(a)  $11.09 
Class I:   
Net Asset Value, offering price and redemption price per share ($808,586,118 ÷ 69,968,950 shares)  $11.56 
Class Z:   
Net Asset Value, offering price and redemption price per share ($27,968,276 ÷ 2,438,465 shares)  $11.47 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($63,791,957 ÷ 5,531,516 shares)  $11.53 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $54,671,192 
Interest  24,597 
Income from Fidelity Central Funds  55,386 
Total income  54,751,175 
Expenses   
Management fee $17,871,597  
Distribution and service plan fees 4,895,032  
Independent trustees' fees and expenses 9,523  
Total expenses before reductions 22,776,152  
Expense reductions (22)  
Total expenses after reductions  22,776,130 
Net investment income (loss)  31,975,045 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 11,217  
Fidelity Central Funds 20  
Other affiliated issuers 28,665,212  
Futures contracts 6,207,321  
Capital gain distributions from underlying funds:   
Affiliated issuers 97,130,741  
Total net realized gain (loss)  132,014,511 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 2,531  
Fidelity Central Funds 256  
Other affiliated issuers (370,797,695)  
Futures contracts 291,137  
Total change in net unrealized appreciation (depreciation)  (370,503,771) 
Net gain (loss)  (238,489,260) 
Net increase (decrease) in net assets resulting from operations  $(206,514,215) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $31,975,045 $34,166,177 
Net realized gain (loss) 132,014,511 207,304,831 
Change in net unrealized appreciation (depreciation) (370,503,771) (165,515,407) 
Net increase (decrease) in net assets resulting from operations (206,514,215) 75,955,601 
Distributions to shareholders (182,189,273) (237,149,030) 
Share transactions - net increase (decrease) 69,691,167 157,081,350 
Total increase (decrease) in net assets (319,012,321) (4,112,079) 
Net Assets   
Beginning of period 2,392,336,351 2,396,448,430 
End of period $2,073,324,030 $2,392,336,351 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $13.58 $14.65 $13.61 $12.37 $13.51 
Income from Investment Operations      
Net investment income (loss)A .17 .20 .12 .16 .16 
Net realized and unrealized gain (loss) (1.28) .16 1.67 1.68 (.66) 
Total from investment operations (1.11) .36 1.79 1.84 (.50) 
Distributions from net investment income (.17) (.22) (.14) (.16) (.17) 
Distributions from net realized gain (.85) (1.22) (.61) (.44) (.47) 
Total distributions (1.01)B (1.43)C (.75) (.60) (.64) 
Net asset value, end of period $11.46 $13.58 $14.65 $13.61 $12.37 
Total ReturnD,E (9.15)% 3.19% 13.26% 15.51% (3.92)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .98% .99% .87% .25% .25% 
Expenses net of fee waivers, if any .98% .99% .87% .25% .25% 
Expenses net of all reductions .98% .99% .87% .25% .25% 
Net investment income (loss) 1.23% 1.40% .80% 1.22% 1.28% 
Supplemental Data      
Net assets, end of period (000 omitted) $824,792 $1,026,416 $1,082,982 $1,117,175 $1,094,459 
Portfolio turnover rateG 33% 23% 23% 18% 22% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $1.01 per share is comprised of distributions from net investment income of $.166 and distributions from net realized gain of $.846 per share.

 C Total distributions of $1.43 per share is comprised of distributions from net investment income of $.216 and distributions from net realized gain of $1.218 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2035 Fund Class M

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $13.44 $14.53 $13.51 $12.29 $13.42 
Income from Investment Operations      
Net investment income (loss)A .13 .16 .08 .12 .13 
Net realized and unrealized gain (loss) (1.26) .16 1.66 1.68 (.65) 
Total from investment operations (1.13) .32 1.74 1.80 (.52) 
Distributions from net investment income (.14) (.19) (.12) (.14) (.14) 
Distributions from net realized gain (.84) (1.22) (.60) (.44) (.46) 
Total distributions (.98) (1.41) (.72) (.58) (.61)B 
Net asset value, end of period $11.33 $13.44 $14.53 $13.51 $12.29 
Total ReturnC,D (9.36)% 2.89% 12.98% 15.24% (4.08)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions 1.23% 1.24% 1.13% .50% .50% 
Expenses net of fee waivers, if any 1.23% 1.24% 1.13% .50% .50% 
Expenses net of all reductions 1.23% 1.24% 1.13% .50% .50% 
Net investment income (loss) .98% 1.15% .55% .97% 1.03% 
Supplemental Data      
Net assets, end of period (000 omitted) $310,544 $366,074 $364,455 $336,939 $299,952 
Portfolio turnover rateF 33% 23% 23% 18% 22% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.61 per share is comprised of distributions from net investment income of $.143 and distributions from net realized gain of $.464 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 sales charges.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2035 Fund Class C

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $13.20 $14.29 $13.32 $12.14 $13.27 
Income from Investment Operations      
Net investment income (loss)A .06 .09 .01 .06 .07 
Net realized and unrealized gain (loss) (1.23) .17 1.62 1.65 (.65) 
Total from investment operations (1.17) .26 1.63 1.71 (.58) 
Distributions from net investment income (.10) (.13) (.07) (.09) (.10) 
Distributions from net realized gain (.84) (1.22) (.60) (.44) (.45) 
Total distributions (.94) (1.35) (.66)B (.53) (.55) 
Net asset value, end of period $11.09 $13.20 $14.29 $13.32 $12.14 
Total ReturnC,D (9.84)% 2.39% 12.40% 14.69% (4.58)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions 1.73% 1.73%G 1.63% 1.00% 1.00% 
Expenses net of fee waivers, if any 1.73% 1.73%G 1.63% 1.00% 1.00% 
Expenses net of all reductions 1.73% 1.73%G 1.63% 1.00% 1.00% 
Net investment income (loss) .48% .65% .05% .47% .53% 
Supplemental Data      
Net assets, end of period (000 omitted) $37,642 $44,302 $65,519 $61,581 $54,813 
Portfolio turnover rateF 33% 23% 23% 18% 22% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.66 per share is comprised of distributions from net investment income of $.066 and distributions from net realized gain of $.598 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2035 Fund Class I

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $13.69 $14.75 $13.71 $12.45 $13.59 
Income from Investment Operations      
Net investment income (loss)A .20 .23 .15 .19 .20 
Net realized and unrealized gain (loss) (1.28) .17 1.68 1.70 (.67) 
Total from investment operations (1.08) .40 1.83 1.89 (.47) 
Distributions from net investment income (.20) (.25) (.17) (.19) (.20) 
Distributions from net realized gain (.85) (1.22) (.62) (.44) (.47) 
Total distributions (1.05) (1.46)B (.79) (.63) (.67) 
Net asset value, end of period $11.56 $13.69 $14.75 $13.71 $12.45 
Total ReturnC (8.91)% 3.47% 13.50% 15.79% (3.63)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions .73% .74% .64% - %F - %F 
Expenses net of fee waivers, if any .73% .74% .64% -% -% 
Expenses net of all reductions .73% .74% .64% -% -% 
Net investment income (loss) 1.48% 1.65% 1.04% 1.47% 1.53% 
Supplemental Data      
Net assets, end of period (000 omitted) $808,586 $907,369 $867,707 $689,261 $684,976 
Portfolio turnover rateE 33% 23% 23% 18% 22% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $1.46 per share is comprised of distributions from net investment income of $.245 and distributions from net realized gain of $1.218 per share.

 C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Amount represents less than .005%.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2035 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $13.63 $14.78 
Income from Investment Operations   
Net investment income (loss)B .21 .07 
Net realized and unrealized gain (loss) (1.27) (.32)C 
Total from investment operations (1.06) (.25) 
Distributions from net investment income (.22) (.31) 
Distributions from net realized gain (.88) (.59) 
Total distributions (1.10) (.90) 
Net asset value, end of period $11.47 $13.63 
Total ReturnD,E (8.87)% (.96)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .63% .63%H,I 
Expenses net of fee waivers, if any .63% .63%H,I 
Expenses net of all reductions .63% .63%H,I 
Net investment income (loss) 1.58% 1.01%H 
Supplemental Data   
Net assets, end of period (000 omitted) $27,968 $2,821 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2035 Fund Class Z6

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $13.67 $14.75 $14.07 
Income from Investment Operations    
Net investment income (loss)B .23 .26 .12 
Net realized and unrealized gain (loss) (1.28) .16 1.15 
Total from investment operations (1.05) .42 1.27 
Distributions from net investment income (.23) (.29) (.22) 
Distributions from net realized gain (.86) (1.22) (.38) 
Total distributions (1.09) (1.50)C (.59)D 
Net asset value, end of period $11.53 $13.67 $14.75 
Total ReturnE,F (8.74)% 3.65% 9.03% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .49% .49% .51%I,J 
Expenses net of fee waivers, if any .49% .49% .51%I,J 
Expenses net of all reductions .49% .49% .51%I,J 
Net investment income (loss) 1.73% 1.90% .97%I 
Supplemental Data    
Net assets, end of period (000 omitted) $63,792 $45,355 $15,784 
Portfolio turnover rateH 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 of $1.50 per share is comprised of distributions from net investment income of $.285 and distributions from net realized gain of $1.218 per share.

 D Total distributions of $.59 per share is comprised of distributions from net investment income of $.216 and distributions from net realized gain of $.378 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

 J On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

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, 2020

 % of fund's net assets 
Fidelity Series Emerging Markets Opportunities Fund 11.0 
Fidelity Series Large Cap Stock Fund 9.9 
Fidelity Series International Growth Fund 8.3 
Fidelity Series International Value Fund 7.4 
Fidelity Series Overseas Fund 6.9 
Fidelity Series Value Discovery Fund 6.3 
Fidelity Series Stock Selector Large Cap Value Fund 6.1 
Fidelity Advisor Series Equity Growth Fund 6.1 
Fidelity Series Opportunistic Insights Fund 5.7 
Fidelity Advisor Series Growth Opportunities Fund 3.9 
 71.6 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.8% 
   International Equity Funds 38.8% 
   Bond Funds 6.6% 
   Short-Term Funds 3.6% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $1,987,395) 1,990,000 1,989,636 
 Shares Value 
Domestic Equity Funds - 50.8%   
Fidelity Advisor Series Equity Growth Fund (b) 9,081,016 $111,787,301 
Fidelity Advisor Series Growth Opportunities Fund (b) 6,566,436 72,165,135 
Fidelity Advisor Series Small Cap Fund (b) 5,657,712 47,411,627 
Fidelity Series All-Sector Equity Fund (b) 6,252,473 49,019,389 
Fidelity Series Commodity Strategy Fund (b) 16,752,004 61,144,816 
Fidelity Series Large Cap Stock Fund (b) 15,131,057 181,421,377 
Fidelity Series Large Cap Value Index Fund (b) 1,971,921 18,950,160 
Fidelity Series Opportunistic Insights Fund (b) 6,900,005 105,708,070 
Fidelity Series Small Cap Opportunities Fund (b) 5,910,857 59,995,194 
Fidelity Series Stock Selector Large Cap Value Fund (b) 12,464,570 111,931,839 
Fidelity Series Value Discovery Fund (b) 11,656,932 115,753,339 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $984,316,030)  935,288,247 
International Equity Funds - 38.8%   
Fidelity Series Canada Fund (b) 4,405,005 36,517,491 
Fidelity Series Emerging Markets Fund (b) 3,043,350 21,546,915 
Fidelity Series Emerging Markets Opportunities Fund (b) 12,962,638 201,828,268 
Fidelity Series International Growth Fund (b) 10,577,313 153,159,489 
Fidelity Series International Small Cap Fund (b) 2,734,611 36,561,752 
Fidelity Series International Value Fund (b) 19,158,578 136,792,247 
Fidelity Series Overseas Fund (b) 14,817,495 128,171,335 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $750,562,518)  714,577,497 
Bond Funds - 6.6%   
Fidelity Series Emerging Markets Debt Fund (b) 1,429,871 11,524,764 
Fidelity Series Floating Rate High Income Fund (b) 283,139 2,276,439 
Fidelity Series High Income Fund (b) 1,711,056 14,099,100 
Fidelity Series Inflation-Protected Bond Index Fund (b) 3,891,206 39,223,353 
Fidelity Series International Credit Fund (b) 119,649 1,143,840 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 4,188,345 44,773,408 
Fidelity Series Real Estate Income Fund (b) 906,043 7,628,885 
TOTAL BOND FUNDS   
(Cost $118,946,311)  120,669,789 
Short-Term Funds - 3.6%   
Fidelity Cash Central Fund 0.29% (c) 7,082,108 7,084,232 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 54,976,567 54,976,567 
Fidelity Series Short-Term Credit Fund (b) 365,882 3,614,913 
TOTAL SHORT-TERM FUNDS   
(Cost $65,697,981)  65,675,712 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $1,921,510,235)  1,838,200,881 
NET OTHER ASSETS (LIABILITIES) - 0.1%  999,173 
NET ASSETS - 100%  $1,839,200,054 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 13 June 2020 $547,885 $31,625 $31,625 
Sold      
Equity Index Contracts      
CME E-mini S&P 500 Index Contracts (United States) 28 June 2020 3,597,580 157,885 157,885 
TOTAL FUTURES CONTRACTS     $189,510 

The notional amount of futures purchased as a percentage of Net Assets is 0.0%

The notional amount of futures sold as a percentage of Net Assets is 0.2%

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,989,636.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $54,197 
Total $54,197 

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 $156,278,837 $23,706,155 $54,791,077 $17,166,015 $5,159,326 $(18,565,940) $111,787,301 
Fidelity Advisor Series Growth Opportunities Fund 114,631,108 25,425,849 48,050,181 21,067,514 11,351,014 (31,192,655) 72,165,135 
Fidelity Advisor Series Small Cap Fund 69,937,130 6,704,395 17,639,421 1,985,714 (166,106) (11,424,371) 47,411,627 
Fidelity Series All-Sector Equity Fund 72,438,183 11,087,009 24,129,125 8,023,256 (966,076) (9,410,602) 49,019,389 
Fidelity Series Canada Fund 20,405,806 27,855,199 2,232,992 585,601 14,517 (9,525,039) 36,517,491 
Fidelity Series Commodity Strategy Fund 53,957,733 41,243,110 14,422,043 1,213,550 (5,664,425) (13,969,559) 61,144,816 
Fidelity Series Emerging Markets Debt Fund 14,076,429 2,012,216 2,234,391 811,652 (167,666) (2,161,824) 11,524,764 
Fidelity Series Emerging Markets Fund 21,170,601 10,712,700 2,329,617 656,099 (131,489) (7,875,280) 21,546,915 
Fidelity Series Emerging Markets Opportunities Fund 197,465,452 69,765,117 24,633,980 6,474,711 (1,133,658) (39,634,663) 201,828,268 
Fidelity Series Floating Rate High Income Fund 2,685,794 314,099 372,372 153,659 (10,346) (340,736) 2,276,439 
Fidelity Series Government Money Market Fund 0.4% 15,575,950 76,412,183 37,011,566 375,831 54,976,567 
Fidelity Series High Income Fund 22,986,815 1,860,375 8,731,750 1,072,176 (340,855) (1,675,485) 14,099,100 
Fidelity Series Inflation-Protected Bond Index Fund 6,304,555 42,865,252 10,148,882 582,755 25,309 177,119 39,223,353 
Fidelity Series International Credit Fund 1,113,984 70,929 70,929 (41,073) 1,143,840 
Fidelity Series International Growth Fund 202,291,154 17,292,002 62,374,173 8,162,162 8,415,765 (12,465,259) 153,159,489 
Fidelity Series International Small Cap Fund 46,512,254 4,444,467 8,187,017 2,090,999 (553,679) (5,654,273) 36,561,752 
Fidelity Series International Value Fund 189,282,195 37,021,974 46,720,809 8,717,226 (3,581,168) (39,209,945) 136,792,247 
Fidelity Series Investment Grade Bond Fund 13,911,189 5,398,696 20,054,907 255,249 969,280 (224,258) 
Fidelity Series Large Cap Stock Fund 259,544,447 30,174,392 68,748,527 17,562,450 (2,039,778) (37,509,157) 181,421,377 
Fidelity Series Large Cap Value Index Fund 28,377,759 3,062,596 7,092,721 1,712,900 641,416 (6,038,890) 18,950,160 
Fidelity Series Long-Term Treasury Bond Index Fund 77,492,172 20,404,102 65,343,316 5,776,735 5,871,207 6,349,243 44,773,408 
Fidelity Series Opportunistic Insights Fund 145,108,638 19,571,653 45,044,304 13,438,527 (356,297) (13,571,620) 105,708,070 
Fidelity Series Overseas Fund 149,897,339 398,838 (21,726,004) 128,171,335 
Fidelity Series Real Estate Income Fund 9,943,579 1,135,677 1,174,249 632,972 (44,103) (2,232,019) 7,628,885 
Fidelity Series Short-Term Credit Fund 4,253,155 2,767,105 3,384,797 119,922 12,590 (33,140) 3,614,913 
Fidelity Series Small Cap Opportunities Fund 89,604,022 11,025,974 20,868,358 5,870,386 (805,115) (18,961,329) 59,995,194 
Fidelity Series Stock Selector Large Cap Value Fund 169,664,183 17,984,958 41,578,896 10,285,984 (2,917,134) (31,221,272) 111,931,839 
Fidelity Series Value Discovery Fund 165,725,099 18,418,401 39,078,810 7,503,187 (1,332,461) (27,978,890) 115,753,339 
 $2,170,738,223 $678,633,924 $676,378,281 $142,766,999 $12,250,068 $(356,116,921) $1,829,127,013 

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, 2020, 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 $1,989,636 $-- $1,989,636 $-- 
Domestic Equity Funds 935,288,247 935,288,247 -- -- 
International Equity Funds 714,577,497 714,577,497 -- -- 
Bond Funds 120,669,789 120,669,789 -- -- 
Short-Term Funds 65,675,712 65,675,712 -- -- 
Total Investments in Securities: $1,838,200,881 $1,836,211,245 $1,989,636 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $189,510 $189,510 $-- $-- 
Total Assets $189,510 $189,510 $-- $-- 
Total Derivative Instruments: $189,510 $189,510 $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2020. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type Value 
 Asset Liability 
Equity Risk   
Futures Contracts(a) $189,510 $0 
Total Equity Risk 189,510 
Total Value of Derivatives $189,510 $0 

 (a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,987,395) 
$1,989,636  
Fidelity Central Funds (cost $7,083,981) 7,084,232  
Other affiliated issuers (cost $1,912,438,859) 1,829,127,013  
Total Investment in Securities (cost $1,921,510,235)  $1,838,200,881 
Segregated cash with brokers for derivative instruments  1,053,598 
Receivable for investments sold  13,824,257 
Receivable for fund shares sold  1,936,110 
Distributions receivable from Fidelity Central Funds  3,817 
Receivable for daily variation margin on futures contracts  313,059 
Other receivables  302 
Total assets  1,855,332,024 
Liabilities   
Payable for investments purchased $571  
Payable for fund shares redeemed 14,640,411  
Accrued management fee 1,172,694  
Distribution and service plan fees payable 318,294  
Total liabilities  16,131,970 
Net Assets  $1,839,200,054 
Net Assets consist of:   
Paid in capital  $1,846,469,093 
Total accumulated earnings (loss)  (7,269,039) 
Net Assets  $1,839,200,054 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($729,343,243 ÷ 60,383,138 shares)(a)  $12.08 
Maximum offering price per share (100/94.25 of $12.08)  $12.82 
Class M:   
Net Asset Value and redemption price per share ($286,125,605 ÷ 23,843,481 shares)(a)  $12.00 
Maximum offering price per share (100/96.50 of $12.00)  $12.44 
Class C:   
Net Asset Value and offering price per share ($41,152,519 ÷ 3,514,273 shares)(a)  $11.71 
Class I:   
Net Asset Value, offering price and redemption price per share ($705,362,354 ÷ 57,970,789 shares)  $12.17 
Class Z:   
Net Asset Value, offering price and redemption price per share ($19,999,910 ÷ 1,656,122 shares)  $12.08 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($57,216,423 ÷ 4,715,097 shares)  $12.13 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $48,029,829 
Interest  21,048 
Income from Fidelity Central Funds  54,197 
Total income  48,105,074 
Expenses   
Management fee $16,420,338  
Distribution and service plan fees 4,565,966  
Independent trustees' fees and expenses 8,574  
Total expenses before reductions 20,994,878  
Expense reductions (301)  
Total expenses after reductions  20,994,577 
Net investment income (loss)  27,110,497 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 7,602  
Fidelity Central Funds  
Other affiliated issuers 12,250,068  
Futures contracts 6,014,573  
Capital gain distributions from underlying funds:   
Affiliated issuers 94,737,170  
Total net realized gain (loss)  113,009,419 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 2,241  
Fidelity Central Funds 244  
Other affiliated issuers (356,116,921)  
Futures contracts 193,291  
Total change in net unrealized appreciation (depreciation)  (355,921,145) 
Net gain (loss)  (242,911,726) 
Net increase (decrease) in net assets resulting from operations  $(215,801,229) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $27,110,497 $30,230,649 
Net realized gain (loss) 113,009,419 192,872,187 
Change in net unrealized appreciation (depreciation) (355,921,145) (155,465,799) 
Net increase (decrease) in net assets resulting from operations (215,801,229) 67,637,037 
Distributions to shareholders (160,006,087) (214,667,735) 
Share transactions - net increase (decrease) 41,090,450 141,920,324 
Total increase (decrease) in net assets (334,716,866) (5,110,374) 
Net Assets   
Beginning of period 2,173,916,920 2,179,027,294 
End of period $1,839,200,054 $2,173,916,920 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $14.52 $15.69 $14.57 $13.25 $14.49 
Income from Investment Operations      
Net investment income (loss)A .17 .21 .12 .17 .17 
Net realized and unrealized gain (loss) (1.55) .15 1.81 1.80 (.69) 
Total from investment operations (1.38) .36 1.93 1.97 (.52) 
Distributions from net investment income (.17) (.23) (.15) (.17) (.18) 
Distributions from net realized gain (.88) (1.31) (.66) (.48) (.54) 
Total distributions (1.06)B (1.53)C (.81) (.65) (.72) 
Net asset value, end of period $12.08 $14.52 $15.69 $14.57 $13.25 
Total ReturnD,E (10.59)% 3.04% 13.42% 15.53% (3.82)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions 1.00% .99%H .87% .25% .25% 
Expenses net of fee waivers, if any 1.00% .99%H .87% .25% .25% 
Expenses net of all reductions 1.00% .99%H .87% .25% .25% 
Net investment income (loss) 1.17% 1.37% .78% 1.22% 1.27% 
Supplemental Data      
Net assets, end of period (000 omitted) $729,343 $916,426 $948,970 $965,401 $950,816 
Portfolio turnover rateG 31% 21% 23% 18% 21% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $1.06 per share is comprised of distributions from net investment income of $.171 and distributions from net realized gain of $.884 per share.

 C Total distributions of $1.53 per share is comprised of distributions from net investment income of $.226 and distributions from net realized gain of $1.308 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2040 Fund Class M

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $14.44 $15.62 $14.52 $13.21 $14.45 
Income from Investment Operations      
Net investment income (loss)A .13 .17 .08 .13 .14 
Net realized and unrealized gain (loss) (1.55) .16 1.80 1.81 (.70) 
Total from investment operations (1.42) .33 1.88 1.94 (.56) 
Distributions from net investment income (.15) (.20) (.12) (.15) (.15) 
Distributions from net realized gain (.88) (1.31) (.66) (.48) (.53) 
Total distributions (1.02)B (1.51) (.78) (.63) (.68) 
Net asset value, end of period $12.00 $14.44 $15.62 $14.52 $13.21 
Total ReturnC,D (10.84)% 2.82% 13.11% 15.26% (4.07)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions 1.25% 1.25% 1.13% .50% .50% 
Expenses net of fee waivers, if any 1.25% 1.25% 1.13% .50% .50% 
Expenses net of all reductions 1.25% 1.25% 1.13% .50% .50% 
Net investment income (loss) .92% 1.12% .53% .97% 1.02% 
Supplemental Data      
Net assets, end of period (000 omitted) $286,126 $356,107 $343,164 $324,990 $310,107 
Portfolio turnover rateF 31% 21% 23% 18% 21% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $1.02 per share is comprised of distributions from net investment income of $.145 and distributions from net realized gain of $.878 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 sales charges.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2040 Fund Class C

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $14.14 $15.32 $14.28 $13.02 $14.27 
Income from Investment Operations      
Net investment income (loss)A .06 .09 B .06 .07 
Net realized and unrealized gain (loss) (1.52) .18 1.77 1.78 (.70) 
Total from investment operations (1.46) .27 1.77 1.84 (.63) 
Distributions from net investment income (.09) (.14) (.07) (.10) (.10) 
Distributions from net realized gain (.88) (1.31) (.66) (.48) (.52) 
Total distributions (.97) (1.45) (.73) (.58) (.62) 
Net asset value, end of period $11.71 $14.14 $15.32 $14.28 $13.02 
Total ReturnC,D (11.31)% 2.37% 12.52% 14.70% (4.63)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions 1.75% 1.74%G 1.63% 1.00% 1.00% 
Expenses net of fee waivers, if any 1.75% 1.74%G 1.63% 1.00% 1.00% 
Expenses net of all reductions 1.75% 1.74%G 1.63% 1.00% 1.00% 
Net investment income (loss) .42% .62% .03% .48% .52% 
Supplemental Data      
Net assets, end of period (000 omitted) $41,153 $53,715 $84,365 $79,480 $73,036 
Portfolio turnover rateF 31% 21% 23% 18% 21% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2040 Fund Class I

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $14.62 $15.78 $14.65 $13.32 $14.57 
Income from Investment Operations      
Net investment income (loss)A .21 .24 .16 .20 .21 
Net realized and unrealized gain (loss) (1.57) .16 1.83 1.82 (.71) 
Total from investment operations (1.36) .40 1.99 2.02 (.50) 
Distributions from net investment income (.20) (.26) (.19) (.20) (.22) 
Distributions from net realized gain (.89) (1.31) (.67) (.49) (.54) 
Total distributions (1.09) (1.56)B (.86) (.69) (.75)C 
Net asset value, end of period $12.17 $14.62 $15.78 $14.65 $13.32 
Total ReturnD (10.35)% 3.31% 13.74% 15.82% (3.62)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .75% .75% .63% - %G - %G 
Expenses net of fee waivers, if any .75% .75% .63% -% -% 
Expenses net of all reductions .75% .75% .63% -% -% 
Net investment income (loss) 1.42% 1.62% 1.02% 1.47% 1.52% 
Supplemental Data      
Net assets, end of period (000 omitted) $705,362 $805,102 $790,667 $649,934 $629,599 
Portfolio turnover rateF 31% 21% 23% 18% 21% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $1.56 per share is comprised of distributions from net investment income of $.256 and distributions from net realized gain of $1.308 per share.

 C Total distributions of $.75 per share is comprised of distributions from net investment income of $.216 and distributions from net realized gain of $.535 per share.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Amount represents less than .005%.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2040 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $14.56 $15.85 
Income from Investment Operations   
Net investment income (loss)B .22 .36 
Net realized and unrealized gain (loss) (1.55) (.69)C 
Total from investment operations (1.33) (.33) 
Distributions from net investment income (.23) (.33) 
Distributions from net realized gain (.91) (.63) 
Total distributions (1.15)D (.96) 
Net asset value, end of period $12.08 $14.56 
Total ReturnE,F (10.31)% (1.30)% 
Ratios to Average Net AssetsG,H   
Expenses before reductions .65%I .65%I,J 
Expenses net of fee waivers, if any .65%I .65%I,J 
Expenses net of all reductions .65%I .65%I,J 
Net investment income (loss) 1.52% 5.06%J 
Supplemental Data   
Net assets, end of period (000 omitted) $20,000 $1,501 
Portfolio turnover rateH 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 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 distributions of $1.15 per share is comprised of distributions from net investment income of $.231 and distributions from net realized gain of $.914 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 J Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2040 Fund Class Z6

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $14.60 $15.76 $15.04 
Income from Investment Operations    
Net investment income (loss)B .24 .28 .18 
Net realized and unrealized gain (loss) (1.57) .17 1.20 
Total from investment operations (1.33) .45 1.38 
Distributions from net investment income (.24) (.30) (.23) 
Distributions from net realized gain (.90) (1.31) (.42) 
Total distributions (1.14) (1.61) (.66)C 
Net asset value, end of period $12.13 $14.60 $15.76 
Total ReturnD,E (10.24)% 3.64% 9.12% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .49% .49% .51%H,I 
Expenses net of fee waivers, if any .49% .49% .51%H,I 
Expenses net of all reductions .49% .49% .51%H,I 
Net investment income (loss) 1.67% 1.87% 1.39%H 
Supplemental Data    
Net assets, end of period (000 omitted) $57,216 $41,066 $11,861 
Portfolio turnover rateG 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 of $.66 per share is comprised of distributions from net investment income of $.234 and distributions from net realized gain of $.421 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

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, 2020

 % of fund's net assets 
Fidelity Series Emerging Markets Opportunities Fund 11.0 
Fidelity Series Large Cap Stock Fund 9.8 
Fidelity Series International Growth Fund 8.3 
Fidelity Series International Value Fund 7.4 
Fidelity Series Overseas Fund 6.9 
Fidelity Series Value Discovery Fund 6.3 
Fidelity Series Stock Selector Large Cap Value Fund 6.1 
Fidelity Advisor Series Equity Growth Fund 6.1 
Fidelity Series Opportunistic Insights Fund 5.7 
Fidelity Advisor Series Growth Opportunities Fund 3.9 
 71.5 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.8% 
   International Equity Funds 38.8% 
   Bond Funds 6.6% 
   Short-Term Funds 3.6% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $1,338,244) 1,340,000 1,339,755 
 Shares Value 
Domestic Equity Funds - 50.8%   
Fidelity Advisor Series Equity Growth Fund (b) 6,141,923 $75,607,075 
Fidelity Advisor Series Growth Opportunities Fund (b) 4,441,528 48,812,389 
Fidelity Advisor Series Small Cap Fund (b) 3,829,111 32,087,950 
Fidelity Series All-Sector Equity Fund (b) 4,228,851 33,154,194 
Fidelity Series Commodity Strategy Fund (b) 11,334,887 41,372,338 
Fidelity Series Large Cap Stock Fund (b) 10,235,567 122,724,451 
Fidelity Series Large Cap Value Index Fund (b) 1,328,807 12,769,836 
Fidelity Series Opportunistic Insights Fund (b) 4,666,592 71,492,194 
Fidelity Series Small Cap Opportunities Fund (b) 4,002,522 40,625,599 
Fidelity Series Stock Selector Large Cap Value Fund (b) 8,434,325 75,740,241 
Fidelity Series Value Discovery Fund (b) 7,885,577 78,303,780 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $685,153,647)  632,690,047 
International Equity Funds - 38.8%   
Fidelity Series Canada Fund (b) 2,965,325 24,582,543 
Fidelity Series Emerging Markets Fund (b) 2,059,521 14,581,407 
Fidelity Series Emerging Markets Opportunities Fund (b) 8,770,344 136,554,263 
Fidelity Series International Growth Fund (b) 7,162,398 103,711,518 
Fidelity Series International Small Cap Fund (b) 1,852,866 24,772,817 
Fidelity Series International Value Fund (b) 12,978,992 92,670,000 
Fidelity Series Overseas Fund (b) 10,007,179 86,562,100 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $521,283,018)  483,434,648 
Bond Funds - 6.6%   
Fidelity Series Emerging Markets Debt Fund (b) 968,174 7,803,484 
Fidelity Series Floating Rate High Income Fund (b) 194,201 1,561,377 
Fidelity Series High Income Fund (b) 1,157,485 9,537,674 
Fidelity Series Inflation-Protected Bond Index Fund (b) 2,632,573 26,536,334 
Fidelity Series International Credit Fund (b) 72,085 689,132 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 2,833,531 30,290,447 
Fidelity Series Real Estate Income Fund (b) 611,391 5,147,913 
TOTAL BOND FUNDS   
(Cost $80,415,478)  81,566,361 
Short-Term Funds - 3.6%   
Fidelity Cash Central Fund 0.29% (c) 4,815,425 4,816,870 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 37,187,479 37,187,479 
Fidelity Series Short-Term Credit Fund (b) 251,362 2,483,455 
TOTAL SHORT-TERM FUNDS   
(Cost $44,502,422)  44,487,804 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $1,332,692,809)  1,243,518,615 
NET OTHER ASSETS (LIABILITIES) - 0.1%  677,629 
NET ASSETS - 100%  $1,244,196,244 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI Emerging Markets Index Contracts (United States) June 2020 $337,160 $19,461 $19,461 
Sold      
Equity Index Contracts      
CME E-mini S&P 500 Index Contracts (United States) 19 June 2020 2,441,215 107,136 107,136 
TOTAL FUTURES CONTRACTS     $126,597 

The notional amount of futures purchased as a percentage of Net Assets is 0.0%

The notional amount of futures sold as a percentage of Net Assets is 0.2%

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,339,755.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $34,644 
Total $34,644 

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 $100,225,825 $19,797,257 $35,209,463 $11,548,384 $1,668,824 $(10,875,368) $75,607,075 
Fidelity Advisor Series Growth Opportunities Fund 73,434,142 19,544,908 30,687,809 14,173,864 5,933,606 (19,412,458) 48,812,389 
Fidelity Advisor Series Small Cap Fund 44,897,186 6,412,772 11,357,725 1,336,287 (339,131) (7,525,152) 32,087,950 
Fidelity Series All-Sector Equity Fund 46,439,012 9,216,619 15,425,279 5,398,584 (1,271,402) (5,804,756) 33,154,194 
Fidelity Series Canada Fund 13,091,551 19,972,273 2,046,528 394,594 57,893 (6,492,646) 24,582,543 
Fidelity Series Commodity Strategy Fund 34,584,614 29,232,228 9,316,194 809,460 (3,453,055) (9,675,255) 41,372,338 
Fidelity Series Emerging Markets Debt Fund 8,890,287 1,833,393 1,355,653 531,728 (116,575) (1,447,968) 7,803,484 
Fidelity Series Emerging Markets Fund 13,572,163 7,793,142 1,430,003 441,335 (50,700) (5,303,195) 14,581,407 
Fidelity Series Emerging Markets Opportunities Fund 126,572,242 52,681,756 15,257,843 4,355,265 (556,468) (26,885,424) 136,554,263 
Fidelity Series Floating Rate High Income Fund 1,724,279 299,938 223,695 102,449 (2,520) (236,625) 1,561,377 
Fidelity Series Government Money Market Fund 0.4% 9,971,816 51,631,100 24,415,437 247,624 37,187,479 
Fidelity Series High Income Fund 14,702,301 1,681,692 5,483,065 710,875 (144,824) (1,218,430) 9,537,674 
Fidelity Series Inflation-Protected Bond Index Fund 4,043,045 29,088,422 6,727,264 392,251 18,202 113,929 26,536,334 
Fidelity Series International Credit Fund 671,144 42,733 42,733 (24,745) 689,132 
Fidelity Series International Growth Fund 129,656,079 17,105,504 39,944,186 5,487,316 2,856,702 (5,962,581) 103,711,518 
Fidelity Series International Small Cap Fund 29,831,844 4,351,399 5,189,071 1,411,588 (372,898) (3,848,457) 24,772,817 
Fidelity Series International Value Fund 121,377,539 29,823,240 29,725,167 5,860,855 (1,686,270) (27,119,342) 92,670,000 
Fidelity Series Investment Grade Bond Fund 9,070,281 3,588,372 13,144,709 166,908 792,569 (306,513) 
Fidelity Series Large Cap Stock Fund 166,383,722 26,614,415 43,706,651 11,583,616 (748,831) (25,818,204) 122,724,451 
Fidelity Series Large Cap Value Index Fund 18,194,605 2,734,439 4,521,225 1,151,649 159,710 (3,797,693) 12,769,836 
Fidelity Series Long-Term Treasury Bond Index Fund 49,678,462 15,342,061 42,803,184 3,866,615 3,724,861 4,348,247 30,290,447 
Fidelity Series Opportunistic Insights Fund 93,065,012 16,653,132 28,675,506 9,036,207 (441,535) (9,108,909) 71,492,194 
Fidelity Series Overseas Fund 101,166,811 268,474 (14,604,711) 86,562,100 
Fidelity Series Real Estate Income Fund 6,350,088 1,037,426 704,424 418,645 (12,333) (1,522,844) 5,147,913 
Fidelity Series Short-Term Credit Fund 2,713,873 1,912,310 2,127,766 79,599 7,408 (22,370) 2,483,455 
Fidelity Series Small Cap Opportunities Fund 57,500,174 9,803,449 13,386,092 3,894,438 (441,521) (12,850,411) 40,625,599 
Fidelity Series Stock Selector Large Cap Value Fund 108,781,667 16,449,285 26,360,839 6,920,590 (1,495,134) (21,634,738) 75,740,241 
Fidelity Series Value Discovery Fund 106,250,097 16,562,865 24,688,749 5,048,066 (673,816) (19,146,617) 78,303,780 
 $1,391,673,050 $512,372,941 $433,913,527 $95,679,999 $3,412,762 $(236,183,236) $1,237,361,990 

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, 2020, 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 $1,339,755 $-- $1,339,755 $-- 
Domestic Equity Funds 632,690,047 632,690,047 -- -- 
International Equity Funds 483,434,648 483,434,648 -- -- 
Bond Funds 81,566,361 81,566,361 -- -- 
Short-Term Funds 44,487,804 44,487,804 -- -- 
Total Investments in Securities: $1,243,518,615 $1,242,178,860 $1,339,755 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $126,597 $126,597 $-- $-- 
Total Assets $126,597 $126,597 $-- $-- 
Total Derivative Instruments: $126,597 $126,597 $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2020. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type Value 
 Asset Liability 
Equity Risk   
Futures Contracts(a) $126,597 $0 
Total Equity Risk 126,597 
Total Value of Derivatives $126,597 $0 

 (a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,338,244) 
$1,339,755  
Fidelity Central Funds (cost $4,816,697) 4,816,870  
Other affiliated issuers (cost $1,326,537,868) 1,237,361,990  
Total Investment in Securities (cost $1,332,692,809)  $1,243,518,615 
Segregated cash with brokers for derivative instruments  697,533 
Receivable for investments sold  6,909,167 
Receivable for fund shares sold  1,083,195 
Distributions receivable from Fidelity Central Funds  2,578 
Receivable for daily variation margin on futures contracts  209,701 
Total assets  1,252,420,789 
Liabilities   
Payable for investments purchased $3,093  
Payable for fund shares redeemed 7,237,132  
Accrued management fee 788,184  
Distribution and service plan fees payable 196,136  
Total liabilities  8,224,545 
Net Assets  $1,244,196,244 
Net Assets consist of:   
Paid in capital  $1,288,099,280 
Total accumulated earnings (loss)  (43,903,036) 
Net Assets  $1,244,196,244 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($456,849,121 ÷ 48,428,234 shares)(a)  $9.43 
Maximum offering price per share (100/94.25 of $9.43)  $10.01 
Class M:   
Net Asset Value and redemption price per share ($181,179,253 ÷ 19,402,523 shares)(a)  $9.34 
Maximum offering price per share (100/96.50 of $9.34)  $9.68 
Class C:   
Net Asset Value and offering price per share ($22,256,234 ÷ 2,423,901 shares)(a)  $9.18 
Class I:   
Net Asset Value, offering price and redemption price per share ($522,313,938 ÷ 54,957,795 shares)  $9.50 
Class Z:   
Net Asset Value, offering price and redemption price per share ($16,799,729 ÷ 1,781,132 shares)  $9.43 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($44,797,969 ÷ 4,723,541 shares)  $9.48 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $32,111,934 
Interest  13,921 
Income from Fidelity Central Funds  34,644 
Total income  32,160,499 
Expenses   
Management fee $10,848,653  
Distribution and service plan fees 2,744,916  
Independent trustees' fees and expenses 5,636  
Total expenses before reductions 13,599,205  
Expense reductions (28)  
Total expenses after reductions  13,599,177 
Net investment income (loss)  18,561,322 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 4,751  
Fidelity Central Funds  
Other affiliated issuers 3,412,762  
Futures contracts 3,960,916  
Capital gain distributions from underlying funds:   
Affiliated issuers 63,568,065  
Total net realized gain (loss)  70,946,497 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 1,511  
Fidelity Central Funds 169  
Other affiliated issuers (236,183,236)  
Futures contracts 161,048  
Total change in net unrealized appreciation (depreciation)  (236,020,508) 
Net gain (loss)  (165,074,011) 
Net increase (decrease) in net assets resulting from operations  $(146,512,689) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $18,561,322 $19,594,942 
Net realized gain (loss) 70,946,497 121,110,883 
Change in net unrealized appreciation (depreciation) (236,020,508) (98,056,567) 
Net increase (decrease) in net assets resulting from operations (146,512,689) 42,649,258 
Distributions to shareholders (102,870,591) (133,342,942) 
Share transactions - net increase (decrease) 99,889,190 127,638,941 
Total increase (decrease) in net assets (149,494,090) 36,945,257 
Net Assets   
Beginning of period 1,393,690,334 1,356,745,077 
End of period $1,244,196,244 $1,393,690,334 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.33 $12.21 $11.26 $10.23 $11.15 
Income from Investment Operations      
Net investment income (loss)A .13 .16 .10 .13 .13 
Net realized and unrealized gain (loss) (1.22) .13 1.40 1.39 (.54) 
Total from investment operations (1.09) .29 1.50 1.52 (.41) 
Distributions from net investment income (.14) (.18) (.12) (.13) (.14) 
Distributions from net realized gain (.67) (.99) (.43) (.36) (.37) 
Total distributions (.81) (1.17) (.55) (.49) (.51) 
Net asset value, end of period $9.43 $11.33 $12.21 $11.26 $10.23 
Total ReturnB,C (10.68)% 3.13% 13.44% 15.50% (3.85)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions 1.00% .99%F .87% .25% .25% 
Expenses net of fee waivers, if any 1.00% .99%F .87% .25% .25% 
Expenses net of all reductions 1.00% .99%F .87% .25% .25% 
Net investment income (loss) 1.19% 1.38% .79% 1.22% 1.27% 
Supplemental Data      
Net assets, end of period (000 omitted) $456,849 $547,563 $566,474 $556,090 $531,510 
Portfolio turnover rateE 30% 22% 21% 22% 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 sales charges.

 D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2045 Fund Class M

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.22 $12.12 $11.19 $10.17 $11.09 
Income from Investment Operations      
Net investment income (loss)A .10 .13 .06 .10 .11 
Net realized and unrealized gain (loss) (1.20) .12 1.39 1.39 (.54) 
Total from investment operations (1.10) .25 1.45 1.49 (.43) 
Distributions from net investment income (.12) (.16) (.10) (.11) (.12) 
Distributions from net realized gain (.67) (.99) (.43) (.36) (.37) 
Total distributions (.78)B (1.15) (.52)C (.47) (.49) 
Net asset value, end of period $9.34 $11.22 $12.12 $11.19 $10.17 
Total ReturnD,E (10.80)% 2.79% 13.12% 15.29% (4.10)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions 1.25% 1.24%H 1.13% .50% .50% 
Expenses net of fee waivers, if any 1.25% 1.24%H 1.13% .50% .50% 
Expenses net of all reductions 1.25% 1.24%H 1.13% .50% .50% 
Net investment income (loss) .94% 1.13% .54% .97% 1.02% 
Supplemental Data      
Net assets, end of period (000 omitted) $181,179 $210,625 $207,442 $186,200 $158,557 
Portfolio turnover rateG 30% 22% 21% 22% 26% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.78 per share is comprised of distributions from net investment income of $.115 and distributions from net realized gain of $.666 per share.

 C Total distributions of $.52 per share is comprised of distributions from net investment income of $.096 and distributions from net realized gain of $.428 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2045 Fund Class C

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.07 $11.98 $11.08 $10.09 $11.01 
Income from Investment Operations      
Net investment income (loss)A .05 .07 B .05 .05 
Net realized and unrealized gain (loss) (1.20) .13 1.38 1.38 (.53) 
Total from investment operations (1.15) .20 1.38 1.43 (.48) 
Distributions from net investment income (.08) (.12) (.05) (.08) (.08) 
Distributions from net realized gain (.67) (.99) (.43) (.36) (.36) 
Total distributions (.74)C (1.11) (.48) (.44) (.44) 
Net asset value, end of period $9.18 $11.07 $11.98 $11.08 $10.09 
Total ReturnD,E (11.32)% 2.29% 12.59% 14.71% (4.59)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions 1.75% 1.74%H 1.63% 1.00% 1.00% 
Expenses net of fee waivers, if any 1.75% 1.74%H 1.63% 1.00% 1.00% 
Expenses net of all reductions 1.75% 1.74%H 1.63% 1.00% 1.00% 
Net investment income (loss) .44% .63% .04% .47% .53% 
Supplemental Data      
Net assets, end of period (000 omitted) $22,256 $25,383 $30,549 $27,491 $23,423 
Portfolio turnover rateG 30% 22% 21% 22% 26% 

 A Calculated based on average shares outstanding during the period.

 B Amount represents less than $.005 per share.

 C Total distributions of $.74 per share is comprised of distributions from net investment income of $.078 and distributions from net realized gain of $.666 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2045 Fund Class I

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.41 $12.29 $11.33 $10.28 $11.21 
Income from Investment Operations      
Net investment income (loss)A .16 .19 .12 .16 .16 
Net realized and unrealized gain (loss) (1.23) .13 1.42 1.40 (.55) 
Total from investment operations (1.07) .32 1.54 1.56 (.39) 
Distributions from net investment income (.16) (.20) (.14) (.15) (.17) 
Distributions from net realized gain (.68) (.99) (.44) (.36) (.37) 
Total distributions (.84) (1.20)B (.58) (.51) (.54) 
Net asset value, end of period $9.50 $11.41 $12.29 $11.33 $10.28 
Total ReturnC (10.46)% 3.34% 13.77% 15.83% (3.66)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions .75% .75% .64% - %F - %F 
Expenses net of fee waivers, if any .75% .75% .64% -% -% 
Expenses net of all reductions .75% .75% .64% -% -% 
Net investment income (loss) 1.44% 1.63% 1.03% 1.47% 1.52% 
Supplemental Data      
Net assets, end of period (000 omitted) $522,314 $577,252 $543,170 $420,967 $390,675 
Portfolio turnover rateE 30% 22% 21% 22% 26% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $1.20 per share is comprised of distributions from net investment income of $.204 and distributions from net realized gain of $.993 per share.

 C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Amount represents less than .005%.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2045 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $11.35 $12.36 
Income from Investment Operations   
Net investment income (loss)B .17 .20 
Net realized and unrealized gain (loss) (1.22) (.46)C 
Total from investment operations (1.05) (.26) 
Distributions from net investment income (.18) (.26) 
Distributions from net realized gain (.69) (.49) 
Total distributions (.87) (.75) 
Net asset value, end of period $9.43 $11.35 
Total ReturnD,E (10.33)% (1.33)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .65%H .64%I 
Expenses net of fee waivers, if any .65%H .64%I 
Expenses net of all reductions .65%H .64%I 
Net investment income (loss) 1.54% 3.71%I 
Supplemental Data   
Net assets, end of period (000 omitted) $16,800 $1,376 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2045 Fund Class Z6

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $11.39 $12.28 $11.65 
Income from Investment Operations    
Net investment income (loss)B .19 .22 .15 
Net realized and unrealized gain (loss) (1.23) .12 .92 
Total from investment operations (1.04) .34 1.07 
Distributions from net investment income (.19) (.24) (.18) 
Distributions from net realized gain (.69) (.99) (.26) 
Total distributions (.87)C (1.23) (.44) 
Net asset value, end of period $9.48 $11.39 $12.28 
Total ReturnD,E (10.22)% 3.58% 9.15% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .49% .50%H .51%H,I 
Expenses net of fee waivers, if any .49% .50%H .51%H,I 
Expenses net of all reductions .49% .50%H .51%H,I 
Net investment income (loss) 1.70% 1.88% 1.50%I 
Supplemental Data    
Net assets, end of period (000 omitted) $44,798 $31,493 $9,112 
Portfolio turnover rateG 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 of $.87 per share is comprised of distributions from net investment income of $.186 and distributions from net realized gain of $.686 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Emerging Markets Opportunities Fund 11.0 
Fidelity Series Large Cap Stock Fund 9.9 
Fidelity Series International Growth Fund 8.3 
Fidelity Series International Value Fund 7.5 
Fidelity Series Overseas Fund 6.9 
Fidelity Series Value Discovery Fund 6.3 
Fidelity Series Stock Selector Large Cap Value Fund 6.1 
Fidelity Advisor Series Equity Growth Fund 6.1 
Fidelity Series Opportunistic Insights Fund 5.7 
Fidelity Advisor Series Growth Opportunities Fund 3.9 
 71.7 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.8% 
   International Equity Funds 38.9% 
   Bond Funds 6.5% 
   Short-Term Funds 3.6% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $1,128,565) 1,130,000 1,129,793 
 Shares Value 
Domestic Equity Funds - 50.8%   
Fidelity Advisor Series Equity Growth Fund (b) 4,960,107 $61,058,917 
Fidelity Advisor Series Growth Opportunities Fund (b) 3,586,736 39,418,229 
Fidelity Advisor Series Small Cap Fund (b) 3,096,135 25,945,611 
Fidelity Series All-Sector Equity Fund (b) 3,415,088 26,774,286 
Fidelity Series Commodity Strategy Fund (b) 9,156,347 33,420,668 
Fidelity Series Large Cap Stock Fund (b) 8,267,756 99,130,398 
Fidelity Series Large Cap Value Index Fund (b) 1,073,324 10,314,647 
Fidelity Series Opportunistic Insights Fund (b) 3,768,488 57,733,234 
Fidelity Series Small Cap Opportunities Fund (b) 3,231,576 32,800,494 
Fidelity Series Stock Selector Large Cap Value Fund (b) 6,813,853 61,188,399 
Fidelity Series Value Discovery Fund (b) 6,369,343 63,247,581 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $556,699,488)  511,032,464 
International Equity Funds - 38.9%   
Fidelity Series Canada Fund (b) 2,389,584 19,809,649 
Fidelity Series Emerging Markets Fund (b) 1,663,961 11,780,841 
Fidelity Series Emerging Markets Opportunities Fund (b) 7,083,912 110,296,509 
Fidelity Series International Growth Fund (b) 5,789,177 83,827,283 
Fidelity Series International Small Cap Fund (b) 1,498,025 20,028,601 
Fidelity Series International Value Fund (b) 10,492,307 74,915,069 
Fidelity Series Overseas Fund (b) 8,073,373 69,834,679 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $422,105,480)  390,492,631 
Bond Funds - 6.5%   
Fidelity Series Emerging Markets Debt Fund (b) 781,778 6,301,127 
Fidelity Series Floating Rate High Income Fund (b) 156,583 1,258,928 
Fidelity Series High Income Fund (b) 934,868 7,703,311 
Fidelity Series Inflation-Protected Bond Index Fund (b) 2,126,132 21,431,412 
Fidelity Series International Credit Fund (b) 56,651 541,583 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 2,288,465 24,463,695 
Fidelity Series Real Estate Income Fund (b) 494,423 4,163,039 
TOTAL BOND FUNDS   
(Cost $64,958,269)  65,863,095 
Short-Term Funds - 3.6%   
Fidelity Cash Central Fund 0.29% (c) 3,846,494 3,847,648 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 30,012,201 30,012,201 
Fidelity Series Short-Term Credit Fund (b) 205,867 2,033,962 
TOTAL SHORT-TERM FUNDS   
(Cost $35,905,123)  35,893,811 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $1,080,796,925)  1,004,411,794 
NET OTHER ASSETS (LIABILITIES) - 0.1%  520,763 
NET ASSETS - 100%  $1,004,932,557 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI Emerging Markets Index Contracts (United States) June 2020 $337,160 $19,461 $19,461 
Sold      
Equity Index Contracts      
CME E-mini S&P 500 Index Contracts (United States) 16 June 2020 2,055,760 90,220 90,220 
TOTAL FUTURES CONTRACTS     $109,681 

The notional amount of futures purchased as a percentage of Net Assets is 0.0%

The notional amount of futures sold as a percentage of Net Assets is 0.2%

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,129,793.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $27,923 
Total $27,923 

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 $81,090,981 $17,160,027 $29,787,471 $9,367,553 $1,329,269 $(8,733,889) $61,058,917 
Fidelity Advisor Series Growth Opportunities Fund 59,408,997 16,572,125 25,679,970 11,494,357 4,520,985 (15,403,908) 39,418,229 
Fidelity Advisor Series Small Cap Fund 36,325,479 5,536,500 9,610,528 1,083,868 (254,811) (6,051,029) 25,945,611 
Fidelity Series All-Sector Equity Fund 37,575,763 7,908,098 13,042,390 4,357,348 (843,647) (4,823,538) 26,774,286 
Fidelity Series Canada Fund 10,594,107 16,594,966 2,223,069 319,126 76,444 (5,232,799) 19,809,649 
Fidelity Series Commodity Strategy Fund 27,993,656 24,165,163 8,197,902 655,256 (2,052,324) (8,487,925) 33,420,668 
Fidelity Series Emerging Markets Debt Fund 7,163,841 1,662,225 1,263,323 428,657 (98,531) (1,163,085) 6,301,127 
Fidelity Series Emerging Markets Fund 10,979,648 6,529,531 1,422,434 357,528 (44,272) (4,261,632) 11,780,841 
Fidelity Series Emerging Markets Opportunities Fund 102,421,835 44,500,021 14,661,041 3,528,317 (261,832) (21,702,474) 110,296,509 
Fidelity Series Floating Rate High Income Fund 1,394,196 271,978 215,447 82,765 (5,760) (186,039) 1,258,928 
Fidelity Series Government Money Market Fund 0.4% 8,078,560 41,681,068 19,747,427 200,280 -- -- 30,012,201 
Fidelity Series High Income Fund 11,909,642 1,505,661 4,619,861 574,050 (148,839) (943,292) 7,703,311 
Fidelity Series Inflation-Protected Bond Index Fund 3,269,858 23,851,417 5,796,353 317,904 12,421 94,069 21,431,412 
Fidelity Series International Credit Fund 527,447 33,583 -- 33,583 -- (19,447) 541,583 
Fidelity Series International Growth Fund 104,879,771 15,528,531 34,192,978 4,444,067 2,301,278 (4,689,319) 83,827,283 
Fidelity Series International Small Cap Fund 24,135,150 3,934,408 4,676,635 1,145,633 (224,099) (3,140,223) 20,028,601 
Fidelity Series International Value Fund 98,172,520 25,829,560 25,993,251 4,746,785 (1,571,298) (21,522,462) 74,915,069 
Fidelity Series Investment Grade Bond Fund 7,243,540 3,018,519 10,656,751 135,246 515,700 (121,008) -- 
Fidelity Series Large Cap Stock Fund 134,589,392 23,380,244 37,557,914 9,396,380 (387,146) (20,894,178) 99,130,398 
Fidelity Series Large Cap Value Index Fund 14,718,574 2,406,909 3,889,589 933,935 78,380 (2,999,627) 10,314,647 
Fidelity Series Long-Term Treasury Bond Index Fund 40,183,907 13,000,544 35,222,332 3,129,007 2,996,954 3,504,622 24,463,695 
Fidelity Series Opportunistic Insights Fund 75,302,800 14,502,398 24,418,977 7,303,406 (354,932) (7,298,055) 57,733,234 
Fidelity Series Overseas Fund -- 81,512,728 -- 217,366 -- (11,678,049) 69,834,679 
Fidelity Series Real Estate Income Fund 5,145,657 932,354 678,448 339,487 (10,420) (1,226,104) 4,163,039 
Fidelity Series Short-Term Credit Fund 2,207,545 1,604,985 1,766,495 64,533 6,190 (18,263) 2,033,962 
Fidelity Series Small Cap Opportunities Fund 46,520,436 8,351,863 11,404,468 3,152,400 (317,799) (10,349,538) 32,800,494 
Fidelity Series Stock Selector Large Cap Value Fund 87,997,014 14,550,487 22,803,251 5,594,227 (1,282,738) (17,273,113) 61,188,399 
Fidelity Series Value Discovery Fund 85,952,601 14,578,831 21,390,656 4,082,622 (460,919) (15,432,276) 63,247,581 
 1,125,782,917 431,104,724 370,918,961 77,485,686 3,518,254 (190,052,581) 999,434,353 

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, 2020, 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 $1,129,793 $-- $1,129,793 $-- 
Domestic Equity Funds 511,032,464 511,032,464 -- -- 
International Equity Funds 390,492,631 390,492,631 -- -- 
Bond Funds 65,863,095 65,863,095 -- -- 
Short-Term Funds 35,893,811 35,893,811 -- -- 
Total Investments in Securities: $1,004,411,794 $1,003,282,001 $1,129,793 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $109,681 $109,681 $-- $-- 
Total Assets $109,681 $109,681 $-- $-- 
Total Derivative Instruments: $109,681 $109,681 $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2020. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type Value 
 Asset Liability 
Equity Risk   
Futures Contracts(a) $109,681 $0 
Total Equity Risk 109,681 
Total Value of Derivatives $109,681 $0 

 (a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,128,565) 
$1,129,793  
Fidelity Central Funds (cost $3,847,511) 3,847,648  
Other affiliated issuers (cost $1,075,820,849) 999,434,353  
Total Investment in Securities (cost $1,080,796,925)  $1,004,411,794 
Segregated cash with brokers for derivative instruments  533,412 
Receivable for investments sold  4,279,210 
Receivable for fund shares sold  1,162,290 
Distributions receivable from Fidelity Central Funds  2,073 
Receivable for daily variation margin on futures contracts  171,602 
Total assets  1,010,560,381 
Liabilities   
Payable to custodian bank $4  
Payable for investments purchased 1,912  
Payable for fund shares redeemed 4,833,426  
Accrued management fee 634,962  
Distribution and service plan fees payable 157,520  
Total liabilities  5,627,824 
Net Assets  $1,004,932,557 
Net Assets consist of:   
Paid in capital  $1,044,050,245 
Total accumulated earnings (loss)  (39,117,688) 
Net Assets  $1,004,932,557 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($358,407,493 ÷ 38,019,172 shares)(a)  $9.43 
Maximum offering price per share (100/94.25 of $9.43)  $10.01 
Class M:   
Net Asset Value and redemption price per share ($143,525,506 ÷ 15,330,549 shares)(a)  $9.36 
Maximum offering price per share (100/96.50 of $9.36)  $9.70 
Class C:   
Net Asset Value and offering price per share ($21,456,520 ÷ 2,327,450 shares)(a)  $9.22 
Class I:   
Net Asset Value, offering price and redemption price per share ($436,294,434 ÷ 45,938,385 shares)  $9.50 
Class Z:   
Net Asset Value, offering price and redemption price per share ($11,413,567 ÷ 1,209,895 shares)  $9.43 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($33,835,037 ÷ 3,570,174 shares)  $9.48 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $26,008,158 
Interest  11,275 
Income from Fidelity Central Funds  27,923 
Total income  26,047,356 
Expenses   
Management fee $8,780,628  
Distribution and service plan fees 2,207,032  
Independent trustees' fees and expenses 4,559  
Total expenses before reductions 10,992,219  
Expense reductions (24)  
Total expenses after reductions  10,992,195 
Net investment income (loss)  15,055,161 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 3,822  
Fidelity Central Funds  
Other affiliated issuers 3,518,254  
Futures contracts 3,144,621  
Capital gain distributions from underlying funds:   
Affiliated issuers 51,477,528  
Total net realized gain (loss)  58,144,227 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 1,228  
Fidelity Central Funds 137  
Other affiliated issuers (190,052,581)  
Futures contracts 139,658  
Total change in net unrealized appreciation (depreciation)  (189,911,558) 
Net gain (loss)  (131,767,331) 
Net increase (decrease) in net assets resulting from operations  $(116,712,170) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $15,055,161 $15,894,378 
Net realized gain (loss) 58,144,227 96,181,596 
Change in net unrealized appreciation (depreciation) (189,911,558) (77,826,137) 
Net increase (decrease) in net assets resulting from operations (116,712,170) 34,249,837 
Distributions to shareholders (82,439,055) (105,626,516) 
Share transactions - net increase (decrease) 76,677,887 108,985,768 
Total increase (decrease) in net assets (122,473,338) 37,609,089 
Net Assets   
Beginning of period 1,127,405,895 1,089,796,806 
End of period $1,004,932,557 $1,127,405,895 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.31 $12.17 $11.20 $10.16 $11.06 
Income from Investment Operations      
Net investment income (loss)A .13 .16 .09 .13 .13 
Net realized and unrealized gain (loss) (1.21) .13 1.40 1.39 (.53) 
Total from investment operations (1.08) .29 1.49 1.52 (.40) 
Distributions from net investment income (.14) (.18) (.12) (.13) (.14) 
Distributions from net realized gain (.66) (.97) (.40) (.34) (.36) 
Total distributions (.80) (1.15) (.52) (.48)B (.50) 
Net asset value, end of period $9.43 $11.31 $12.17 $11.20 $10.16 
Total ReturnC,D (10.58)% 3.08% 13.42% 15.52% (3.84)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions 1.00% .99%G .88% .25% .25% 
Expenses net of fee waivers, if any 1.00% .99%G .88% .25% .25% 
Expenses net of all reductions 1.00% .99%G .88% .25% .25% 
Net investment income (loss) 1.20% 1.38% .79% 1.22% 1.28% 
Supplemental Data      
Net assets, end of period (000 omitted) $358,407 $417,583 $418,313 $396,373 $363,199 
Portfolio turnover rateF 32% 23% 20% 25% 24% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.48 per share is comprised of distributions from net investment income of $.131 and distributions from net realized gain of $.344 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 sales charges.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2050 Fund Class M

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.24 $12.11 $11.15 $10.12 $11.02 
Income from Investment Operations      
Net investment income (loss)A .11 .13 .06 .10 .11 
Net realized and unrealized gain (loss) (1.22) .13 1.39 1.38 (.54) 
Total from investment operations (1.11) .26 1.45 1.48 (.43) 
Distributions from net investment income (.11) (.16) (.10) (.11) (.12) 
Distributions from net realized gain (.65) (.97) (.40) (.34) (.36) 
Total distributions (.77)B (1.13) (.49)C (.45) (.47)D 
Net asset value, end of period $9.36 $11.24 $12.11 $11.15 $10.12 
Total ReturnE,F (10.88)% 2.83% 13.16% 15.22% (4.08)% 
Ratios to Average Net AssetsG,H      
Expenses before reductions 1.25% 1.25% 1.13% .50% .50% 
Expenses net of fee waivers, if any 1.25% 1.25% 1.13% .50% .50% 
Expenses net of all reductions 1.25% 1.25% 1.13% .50% .50% 
Net investment income (loss) .95% 1.13% .54% .97% 1.04% 
Supplemental Data      
Net assets, end of period (000 omitted) $143,526 $172,974 $166,634 $147,601 $127,842 
Portfolio turnover rateH 32% 23% 20% 25% 24% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.77 per share is comprised of distributions from net investment income of $.113 and distributions from net realized gain of $.654 per share.

 C Total distributions of $.49 per share is comprised of distributions from net investment income of $.096 and distributions from net realized gain of $.398 per share.

 D Total distributions of $.47 per share is comprised of distributions from net investment income of $.115 and distributions from net realized gain of $.355 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2050 Fund Class C

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.10 $11.98 $11.05 $10.04 $10.95 
Income from Investment Operations      
Net investment income (loss)A .05 .07 B .05 .06 
Net realized and unrealized gain (loss) (1.20) .14 1.38 1.37 (.55) 
Total from investment operations (1.15) .21 1.38 1.42 (.49) 
Distributions from net investment income (.07) (.11) (.06) (.08) (.08) 
Distributions from net realized gain (.65) (.97) (.39) (.34) (.34) 
Total distributions (.73)C (1.09)D (.45) (.41)E (.42) 
Net asset value, end of period $9.22 $11.10 $11.98 $11.05 $10.04 
Total ReturnF,G (11.32)% 2.34% 12.59% 14.73% (4.67)% 
Ratios to Average Net AssetsH,I      
Expenses before reductions 1.75% 1.74%J 1.63% 1.00% 1.00% 
Expenses net of fee waivers, if any 1.75% 1.74%J 1.63% 1.00% 1.00% 
Expenses net of all reductions 1.75% 1.74%J 1.63% 1.00% 1.00% 
Net investment income (loss) .45% .63% .04% .47% .54% 
Supplemental Data      
Net assets, end of period (000 omitted) $21,457 $26,139 $32,763 $28,268 $24,460 
Portfolio turnover rateI 32% 23% 20% 25% 24% 

 A Calculated based on average shares outstanding during the period.

 B Amount represents less than .005%.

 C Total distributions of $.73 per share is comprised of distributions from net investment income of $.074 and distributions from net realized gain of $.654 per share.

 D Total distributions of $1.09 per share is comprised of distributions from net investment income of $.113 and distributions from net realized gain of $.972 per share.

 E Total distributions of $.41 per share is comprised of distributions from net investment income of $.075 and distributions from net realized gain of $.339 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 I Amounts do not include the activity of Underlying Funds.

 J On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2050 Fund Class I

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.39 $12.25 $11.27 $10.22 $11.13 
Income from Investment Operations      
Net investment income (loss)A .16 .19 .12 .16 .16 
Net realized and unrealized gain (loss) (1.22) .12 1.41 1.39 (.55) 
Total from investment operations (1.06) .31 1.53 1.55 (.39) 
Distributions from net investment income (.16) (.20) (.14) (.15) (.16) 
Distributions from net realized gain (.67) (.97) (.41) (.35) (.36) 
Total distributions (.83) (1.17) (.55) (.50) (.52) 
Net asset value, end of period $9.50 $11.39 $12.25 $11.27 $10.22 
Total ReturnB (10.37)% 3.30% 13.74% 15.81% (3.65)% 
Ratios to Average Net AssetsC,D      
Expenses before reductions .75% .75% .64% - %E - %E 
Expenses net of fee waivers, if any .75% .75% .64% -% -% 
Expenses net of all reductions .75% .75% .64% -% -% 
Net investment income (loss) 1.45% 1.63% 1.03% 1.47% 1.53% 
Supplemental Data      
Net assets, end of period (000 omitted) $436,294 $488,167 $466,677 $357,398 $320,449 
Portfolio turnover rateD 32% 23% 20% 25% 24% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 D Amounts do not include the activity of Underlying Funds.

 E Amount represents less than .005%.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2050 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $11.34 $12.34 
Income from Investment Operations   
Net investment income (loss)B .17 .28 
Net realized and unrealized gain (loss) (1.22) (.54)C 
Total from investment operations (1.05) (.26) 
Distributions from net investment income (.18) (.25) 
Distributions from net realized gain (.68) (.49) 
Total distributions (.86) (.74) 
Net asset value, end of period $9.43 $11.34 
Total ReturnD,E (10.33)% (1.34)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .65%H .65%H,I 
Expenses net of fee waivers, if any .65%H .65%H,I 
Expenses net of all reductions .65%H .65%H,I 
Net investment income (loss) 1.55% 5.18%I 
Supplemental Data   
Net assets, end of period (000 omitted) $11,414 $650 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2050 Fund Class Z6

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $11.37 $12.24 $11.59 
Income from Investment Operations    
Net investment income (loss)B .19 .22 .23 
Net realized and unrealized gain (loss) (1.22) .12 .83 
Total from investment operations (1.03) .34 1.06 
Distributions from net investment income (.18) (.24) (.17) 
Distributions from net realized gain (.68) (.97) (.24) 
Total distributions (.86) (1.21) (.41) 
Net asset value, end of period $9.48 $11.37 $12.24 
Total ReturnC,D (10.14)% 3.55% 9.15% 
Ratios to Average Net AssetsE,F    
Expenses before reductions .49% .50%G .51%G,H 
Expenses net of fee waivers, if any .49% .50%G .51%G,H 
Expenses net of all reductions .49% .50%G .51%G,H 
Net investment income (loss) 1.70% 1.88% 2.27%H 
Supplemental Data    
Net assets, end of period (000 omitted) $33,835 $21,893 $5,410 
Portfolio turnover rateF 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 H Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Emerging Markets Opportunities Fund 11.0 
Fidelity Series Large Cap Stock Fund 9.9 
Fidelity Series International Growth Fund 8.3 
Fidelity Series International Value Fund 7.5 
Fidelity Series Overseas Fund 6.9 
Fidelity Series Value Discovery Fund 6.3 
Fidelity Series Stock Selector Large Cap Value Fund 6.1 
Fidelity Advisor Series Equity Growth Fund 6.1 
Fidelity Series Opportunistic Insights Fund 5.7 
Fidelity Advisor Series Growth Opportunities Fund 3.9 
 71.7 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.8% 
   International Equity Funds 38.9% 
   Bond Funds 6.5% 
   Short-Term Funds 3.6% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $619,201) 620,000 619,886 
 Shares Value 
Domestic Equity Funds - 50.8%   
Fidelity Advisor Series Equity Growth Fund (b) 2,878,166 $35,430,218 
Fidelity Advisor Series Growth Opportunities Fund (b) 2,080,978 22,869,943 
Fidelity Advisor Series Small Cap Fund (b) 1,798,432 15,070,858 
Fidelity Series All-Sector Equity Fund (b) 1,982,636 15,543,866 
Fidelity Series Commodity Strategy Fund (b) 5,324,791 19,435,487 
Fidelity Series Large Cap Stock Fund (b) 4,801,774 57,573,265 
Fidelity Series Large Cap Value Index Fund (b) 626,039 6,016,237 
Fidelity Series Opportunistic Insights Fund (b) 2,187,006 33,504,927 
Fidelity Series Small Cap Opportunities Fund (b) 1,878,105 19,062,767 
Fidelity Series Stock Selector Large Cap Value Fund (b) 3,959,793 35,558,943 
Fidelity Series Value Discovery Fund (b) 3,699,041 36,731,477 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $349,708,703)  296,797,988 
International Equity Funds - 38.9%   
Fidelity Series Canada Fund (b) 1,386,685 11,495,621 
Fidelity Series Emerging Markets Fund (b) 967,314 6,848,582 
Fidelity Series Emerging Markets Opportunities Fund (b) 4,117,168 64,104,304 
Fidelity Series International Growth Fund (b) 3,366,280 48,743,741 
Fidelity Series International Small Cap Fund (b) 871,426 11,650,965 
Fidelity Series International Value Fund (b) 6,107,587 43,608,174 
Fidelity Series Overseas Fund (b) 4,673,597 40,426,611 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $259,044,013)  226,877,998 
Bond Funds - 6.5%   
Fidelity Series Emerging Markets Debt Fund (b) 454,886 3,666,378 
Fidelity Series Floating Rate High Income Fund (b) 91,822 738,252 
Fidelity Series High Income Fund (b) 542,728 4,472,076 
Fidelity Series Inflation-Protected Bond Index Fund (b) 1,235,045 12,449,254 
Fidelity Series International Credit Fund (b) 25,874 247,355 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 1,329,267 14,209,861 
Fidelity Series Real Estate Income Fund (b) 287,330 2,419,316 
TOTAL BOND FUNDS   
(Cost $37,478,423)  38,202,492 
Short-Term Funds - 3.6%   
Fidelity Cash Central Fund 0.29% (c) 2,201,827 2,202,488 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 17,416,116 17,416,116 
Fidelity Series Short-Term Credit Fund (b) 123,903 1,224,166 
TOTAL SHORT-TERM FUNDS   
(Cost $20,847,570)  20,842,770 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $667,697,910)  583,341,134 
NET OTHER ASSETS (LIABILITIES) - 0.1%  326,540 
NET ASSETS - 100%  $583,667,674 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI Emerging Markets Index Contracts (United States) June 2020 $126,435 $7,298 $7,298 
Sold      
Equity Index Contracts      
CME E-mini S&P 500 Index Contracts (United States) June 2020 1,156,365 50,749 50,749 
TOTAL FUTURES CONTRACTS     $58,047 

The notional amount of futures purchased as a percentage of Net Assets is 0.0%

The notional amount of futures sold as a percentage of Net Assets is 0.2%

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $619,886.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $16,533 
Total $16,533 

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 $45,302,936 $12,994,041 $18,576,597 $5,516,800 $406,262 $(4,696,424) $35,430,218 
Fidelity Advisor Series Growth Opportunities Fund 33,095,188 11,724,465 15,619,963 6,766,977 1,258,735 (7,588,482) 22,869,943 
Fidelity Advisor Series Small Cap Fund 20,365,537 4,632,940 6,348,384 638,204 (153,105) (3,426,130) 15,070,858 
Fidelity Series All-Sector Equity Fund 20,964,257 5,933,036 8,114,628 2,532,952 (1,082,141) (2,156,658) 15,543,866 
Fidelity Series Canada Fund 5,930,475 10,803,029 2,284,597 187,461 110,186 (3,063,472) 11,495,621 
Fidelity Series Commodity Strategy Fund 15,655,481 15,543,108 5,765,175 382,239 (756,931) (5,240,996) 19,435,487 
Fidelity Series Emerging Markets Debt Fund 3,859,937 1,439,954 906,921 241,418 (70,799) (655,793) 3,666,378 
Fidelity Series Emerging Markets Fund 6,119,139 4,413,420 1,228,899 210,009 (16,109) (2,438,969) 6,848,582 
Fidelity Series Emerging Markets Opportunities Fund 57,109,129 31,475,999 12,087,339 2,072,492 207,954 (12,601,439) 64,104,304 
Fidelity Series Floating Rate High Income Fund 780,983 234,057 166,141 48,130 (2,450) (108,197) 738,252 
Fidelity Series Government Money Market Fund 0.4% 4,523,020 24,295,498 11,402,402 115,345 -- -- 17,416,116 
Fidelity Series High Income Fund 6,674,782 1,243,975 2,831,805 326,708 (94,055) (520,821) 4,472,076 
Fidelity Series Inflation-Protected Bond Index Fund 1,824,747 14,558,391 3,994,551 187,161 4,708 55,959 12,449,254 
Fidelity Series International Credit Fund 240,898 15,339 -- 15,338 -- (8,882) 247,355 
Fidelity Series International Growth Fund 58,492,128 13,387,250 21,834,235 2,607,386 752,419 (2,053,821) 48,743,741 
Fidelity Series International Small Cap Fund 13,484,922 3,433,139 3,398,871 674,541 (43,589) (1,824,636) 11,650,965 
Fidelity Series International Value Fund 54,811,158 19,288,859 17,362,121 2,784,387 (1,058,249) (12,071,473) 43,608,174 
Fidelity Series Investment Grade Bond Fund 3,708,923 2,214,418 6,149,953 77,311 268,229 (41,617) -- 
Fidelity Series Large Cap Stock Fund 75,072,540 18,704,506 24,201,624 5,434,202 (209,846) (11,792,311) 57,573,265 
Fidelity Series Large Cap Value Index Fund 8,213,907 2,009,917 2,527,663 546,990 44,065 (1,723,989) 6,016,237 
Fidelity Series Long-Term Treasury Bond Index Fund 22,426,236 9,004,922 20,907,291 1,827,138 1,643,554 2,042,440 14,209,861 
Fidelity Series Opportunistic Insights Fund 42,072,080 11,234,196 15,401,081 4,266,034 (237,688) (4,162,580) 33,504,927 
Fidelity Series Overseas Fund -- 47,033,052 -- 127,769 -- (6,606,441) 40,426,611 
Fidelity Series Real Estate Income Fund 2,873,463 779,806 522,541 197,238 (1,180) (710,232) 2,419,316 
Fidelity Series Short-Term Credit Fund 1,246,968 1,048,708 1,064,424 37,544 3,697 (10,783) 1,224,166 
Fidelity Series Small Cap Opportunities Fund 26,045,702 6,635,769 7,542,173 1,831,393 (135,421) (5,941,110) 19,062,767 
Fidelity Series Stock Selector Large Cap Value Fund 49,107,421 11,908,430 14,850,847 3,265,706 (682,034) (9,924,027) 35,558,943 
Fidelity Series Value Discovery Fund 47,948,861 11,765,621 13,941,493 2,386,754 (129,706) (8,911,806) 36,731,477 
 627,950,818 297,755,845 239,031,719 45,305,627 26,506 (106,182,690) 580,518,760 

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, 2020, 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 $619,886 $-- $619,886 $-- 
Domestic Equity Funds 296,797,988 296,797,988 -- -- 
International Equity Funds 226,877,998 226,877,998 -- -- 
Bond Funds 38,202,492 38,202,492 -- -- 
Short-Term Funds 20,842,770 20,842,770 -- -- 
Total Investments in Securities: $583,341,134 $582,721,248 $619,886 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $58,047 $58,047 $-- $-- 
Total Assets $58,047 $58,047 $-- $-- 
Total Derivative Instruments: $58,047 $58,047 $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2020. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type Value 
 Asset Liability 
Equity Risk   
Futures Contracts(a) $58,047 $0 
Total Equity Risk 58,047 
Total Value of Derivatives $58,047 $0 

 (a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $619,201) 
$619,886  
Fidelity Central Funds (cost $2,202,406) 2,202,488  
Other affiliated issuers (cost $664,876,303) 580,518,760  
Total Investment in Securities (cost $667,697,910)  $583,341,134 
Segregated cash with brokers for derivative instruments  326,762 
Receivable for investments sold  447,093 
Receivable for fund shares sold  882,432 
Distributions receivable from Fidelity Central Funds  1,198 
Receivable for daily variation margin on futures contracts  96,586 
Total assets  585,095,205 
Liabilities   
Payable for investments purchased $402,524  
Payable for fund shares redeemed 578,830  
Accrued management fee 364,121  
Distribution and service plan fees payable 82,056  
Total liabilities  1,427,531 
Net Assets  $583,667,674 
Net Assets consist of:   
Paid in capital  $648,097,588 
Total accumulated earnings (loss)  (64,429,914) 
Net Assets  $583,667,674 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($196,016,454 ÷ 18,619,742 shares)(a)  $10.53 
Maximum offering price per share (100/94.25 of $10.53)  $11.17 
Class M:   
Net Asset Value and redemption price per share ($74,903,790 ÷ 7,163,806 shares)(a)  $10.46 
Maximum offering price per share (100/96.50 of $10.46)  $10.84 
Class C:   
Net Asset Value and offering price per share ($9,927,598 ÷ 956,756 shares)(a)  $10.38 
Class I:   
Net Asset Value, offering price and redemption price per share ($273,146,832 ÷ 25,832,892 shares)  $10.57 
Class Z:   
Net Asset Value, offering price and redemption price per share ($5,767,174 ÷ 549,355 shares)  $10.50 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($23,905,826 ÷ 2,265,557 shares)  $10.55 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $15,178,285 
Interest  6,888 
Income from Fidelity Central Funds  16,533 
Total income  15,201,706 
Expenses   
Management fee $5,050,734  
Distribution and service plan fees 1,119,105  
Independent trustees' fees and expenses 2,614  
Total expenses before reductions 6,172,453  
Expense reductions (85)  
Total expenses after reductions  6,172,368 
Net investment income (loss)  9,029,338 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 2,256  
Fidelity Central Funds  
Other affiliated issuers 26,506  
Futures contracts 1,789,172  
Capital gain distributions from underlying funds:   
Affiliated issuers 30,127,342  
Total net realized gain (loss)  31,945,278 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 675  
Fidelity Central Funds 82  
Other affiliated issuers (106,182,690)  
Futures contracts 78,293  
Total change in net unrealized appreciation (depreciation)  (106,103,640) 
Net gain (loss)  (74,158,362) 
Net increase (decrease) in net assets resulting from operations  $(65,129,024) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $9,029,338 $8,808,490 
Net realized gain (loss) 31,945,278 46,472,911 
Change in net unrealized appreciation (depreciation) (106,103,640) (36,732,486) 
Net increase (decrease) in net assets resulting from operations (65,129,024) 18,548,915 
Distributions to shareholders (44,853,483) (49,941,562) 
Share transactions - net increase (decrease) 64,611,189 114,273,357 
Total increase (decrease) in net assets (45,371,318) 82,880,710 
Net Assets   
Beginning of period 629,038,992 546,158,282 
End of period $583,667,674 $629,038,992 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $12.58 $13.37 $12.19 $11.02 $11.92 
Income from Investment Operations      
Net investment income (loss)A .15 .18 .11 .14 .15 
Net realized and unrealized gain (loss) (1.36) .15 1.51 1.51 (.59) 
Total from investment operations (1.21) .33 1.62 1.65 (.44) 
Distributions from net investment income (.15) (.19) (.13) (.14) (.14) 
Distributions from net realized gain (.69) (.93) (.32) (.34) (.31) 
Total distributions (.84) (1.12) (.44)B (.48) (.46)C 
Net asset value, end of period $10.53 $12.58 $13.37 $12.19 $11.02 
Total ReturnD,E (10.57)% 3.08% 13.40% 15.49% (3.89)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions 1.00% .99%H .88% .25% .25% 
Expenses net of fee waivers, if any 1.00% .99%H .88% .25% .25% 
Expenses net of all reductions 1.00% .99%H .88% .25% .25% 
Net investment income (loss) 1.23% 1.41% .81% 1.24% 1.31% 
Supplemental Data      
Net assets, end of period (000 omitted) $196,016 $212,428 $209,824 $170,352 $130,309 
Portfolio turnover rateG 35% 27% 18% 24% 24% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.44 per share is comprised of distributions from net investment income of $.125 and distributions from net realized gain of $.317 per share.

 C Total distributions of $.46 per share is comprised of distributions from net investment income of $.141 and distributions from net realized gain of $.314 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2055 Fund Class M

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $12.51 $13.31 $12.14 $10.98 $11.88 
Income from Investment Operations      
Net investment income (loss)A .12 .15 .07 .11 .12 
Net realized and unrealized gain (loss) (1.36) .15 1.52 1.51 (.59) 
Total from investment operations (1.24) .30 1.59 1.62 (.47) 
Distributions from net investment income (.13) (.18) (.11) (.12) (.12) 
Distributions from net realized gain (.68) (.93) (.31) (.34) (.31) 
Total distributions (.81) (1.10)B (.42) (.46) (.43) 
Net asset value, end of period $10.46 $12.51 $13.31 $12.14 $10.98 
Total ReturnC,D (10.83)% 2.86% 13.15% 15.27% (4.11)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions 1.25% 1.25% 1.14% .50% .50% 
Expenses net of fee waivers, if any 1.25% 1.25% 1.14% .50% .50% 
Expenses net of all reductions 1.25% 1.25% 1.14% .50% .50% 
Net investment income (loss) .98% 1.16% .56% .99% 1.06% 
Supplemental Data      
Net assets, end of period (000 omitted) $74,904 $83,858 $73,101 $58,052 $41,956 
Portfolio turnover rateF 35% 27% 18% 24% 24% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $1.10 per share is comprised of distributions from net investment income of $.175 and distributions from net realized gain of $.927 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 sales charges.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2055 Fund Class C

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $12.44 $13.26 $12.11 $10.98 $11.88 
Income from Investment Operations      
Net investment income (loss)A .06 .08 .01 .06 .06 
Net realized and unrealized gain (loss) (1.36) .16 1.51 1.49 (.58) 
Total from investment operations (1.30) .24 1.52 1.55 (.52) 
Distributions from net investment income (.09) (.13) (.06) (.08) (.08) 
Distributions from net realized gain (.68) (.93) (.31) (.34) (.30) 
Total distributions (.76)B (1.06) (.37) (.42) (.38) 
Net asset value, end of period $10.38 $12.44 $13.26 $12.11 $10.98 
Total ReturnC,D (11.29)% 2.32% 12.62% 14.62% (4.53)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions 1.75% 1.74%G 1.64% 1.00% 1.00% 
Expenses net of fee waivers, if any 1.75% 1.74%G 1.64% 1.00% 1.00% 
Expenses net of all reductions 1.75% 1.74%G 1.64% 1.00% 1.00% 
Net investment income (loss) .48% .66% .05% .49% .56% 
Supplemental Data      
Net assets, end of period (000 omitted) $9,928 $10,991 $10,685 $8,529 $5,671 
Portfolio turnover rateF 35% 27% 18% 24% 24% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.76 per share is comprised of distributions from net investment income of $.085 and distributions from net realized gain of $.679 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2055 Fund Class I

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $12.64 $13.43 $12.24 $11.06 $11.96 
Income from Investment Operations      
Net investment income (loss)A .19 .21 .14 .17 .18 
Net realized and unrealized gain (loss) (1.39) .15 1.53 1.51 (.60) 
Total from investment operations (1.20) .36 1.67 1.68 (.42) 
Distributions from net investment income (.18) (.22) (.16) (.16) (.17) 
Distributions from net realized gain (.70) (.93) (.32) (.34) (.31) 
Total distributions (.87)B (1.15) (.48) (.50) (.48) 
Net asset value, end of period $10.57 $12.64 $13.43 $12.24 $11.06 
Total ReturnC (10.45)% 3.34% 13.74% 15.81% (3.64)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions .75% .75% .64% - %F - %F 
Expenses net of fee waivers, if any .75% .75% .64% -% -% 
Expenses net of all reductions .75% .75% .64% -% -% 
Net investment income (loss) 1.48% 1.66% 1.05% 1.49% 1.56% 
Supplemental Data      
Net assets, end of period (000 omitted) $273,147 $308,366 $249,432 $165,720 $119,597 
Portfolio turnover rateE 35% 27% 18% 24% 24% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.87 per share is comprised of distributions from net investment income of $.178 and distributions from net realized gain of $.696 per share.

 C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Amount represents less than .005%.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2055 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $12.58 $13.57 
Income from Investment Operations   
Net investment income (loss)B .20 .38 
Net realized and unrealized gain (loss) (1.36) (.65)C 
Total from investment operations (1.16) (.27) 
Distributions from net investment income (.20) (.28) 
Distributions from net realized gain (.71) (.43) 
Total distributions (.92)D (.72)E 
Net asset value, end of period $10.50 $12.58 
Total ReturnF,G (10.28)% (1.35)% 
Ratios to Average Net AssetsH,I   
Expenses before reductions .65%J .65%J,K 
Expenses net of fee waivers, if any .65%J .65%J,K 
Expenses net of all reductions .65%J .65%J,K 
Net investment income (loss) 1.58% 6.29%K 
Supplemental Data   
Net assets, end of period (000 omitted) $5,767 $428 
Portfolio turnover rateI 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 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 distributions of $.92 per share is comprised of distributions from net investment income of $.204 and distributions from net realized gain of $.714 per share.

 E Total distributions of $.72 per share is comprised of distributions from net investment income of $.281 and distributions from net realized gain of $.434 per share.

 F Total returns for periods of less than one year are not annualized.

 G Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 I Amounts do not include the activity of Underlying Funds.

 J On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 K Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2055 Fund Class Z6

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $12.62 $13.42 $12.63 
Income from Investment Operations    
Net investment income (loss)B .22 .24 .47 
Net realized and unrealized gain (loss) (1.38) .15 .69 
Total from investment operations (1.16) .39 1.16 
Distributions from net investment income (.21) (.26) (.19) 
Distributions from net realized gain (.71) (.93) (.18) 
Total distributions (.91)C (1.19) (.37) 
Net asset value, end of period $10.55 $12.62 $13.42 
Total ReturnD,E (10.22)% 3.59% 9.16% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .49% .50%H .50%H,I 
Expenses net of fee waivers, if any .49% .50%H .50%H,I 
Expenses net of all reductions .49% .50%H .50%H,I 
Net investment income (loss) 1.73% 1.91% 4.26%I 
Supplemental Data    
Net assets, end of period (000 omitted) $23,906 $12,968 $3,116 
Portfolio turnover rateG 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 of $.91 per share is comprised of distributions from net investment income of $.206 and distributions from net realized gain of $.705 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Emerging Markets Opportunities Fund 11.0 
Fidelity Series Large Cap Stock Fund 9.9 
Fidelity Series International Growth Fund 8.3 
Fidelity Series International Value Fund 7.5 
Fidelity Series Overseas Fund 6.9 
Fidelity Series Value Discovery Fund 6.3 
Fidelity Series Stock Selector Large Cap Value Fund 6.1 
Fidelity Advisor Series Equity Growth Fund 6.1 
Fidelity Series Opportunistic Insights Fund 5.7 
Fidelity Advisor Series Growth Opportunities Fund 3.9 
 71.7 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.8% 
   International Equity Funds 38.9% 
   Bond Funds 6.5% 
   Short-Term Funds 3.6% 
   Short-Term Investments 0.1% 
   Net Other Assets (Liabilities) 0.1% 


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, 2020

Showing Percentage of Net Assets

U.S. Treasury Obligations - 0.1%   
 Principal Amount Value 
U.S. Treasury Bills, yield at date of purchase 0.36% to 1.39% 5/28/20 to 6/4/20 (a)   
(Cost $199,748) 200,000 199,963 
 Shares Value 
Domestic Equity Funds - 50.8%   
Fidelity Advisor Series Equity Growth Fund (b) 919,685 $11,321,317 
Fidelity Advisor Series Growth Opportunities Fund (b) 664,753 7,305,630 
Fidelity Advisor Series Small Cap Fund (b) 576,034 4,827,166 
Fidelity Series All-Sector Equity Fund (b) 633,745 4,968,557 
Fidelity Series Commodity Strategy Fund (b) 1,703,082 6,216,251 
Fidelity Series Large Cap Stock Fund (b) 1,535,991 18,416,531 
Fidelity Series Large Cap Value Index Fund (b) 199,551 1,917,689 
Fidelity Series Opportunistic Insights Fund (b) 698,903 10,707,192 
Fidelity Series Small Cap Opportunities Fund (b) 601,217 6,102,355 
Fidelity Series Stock Selector Large Cap Value Fund (b) 1,267,512 11,382,253 
Fidelity Series Value Discovery Fund (b) 1,182,912 11,746,321 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $117,666,110)  94,911,262 
International Equity Funds - 38.9%   
Fidelity Series Canada Fund (b) 447,338 3,708,429 
Fidelity Series Emerging Markets Fund (b) 310,223 2,196,379 
Fidelity Series Emerging Markets Opportunities Fund (b) 1,317,053 20,506,511 
Fidelity Series International Growth Fund (b) 1,073,186 15,539,738 
Fidelity Series International Small Cap Fund (b) 277,950 3,716,187 
Fidelity Series International Value Fund (b) 1,954,960 13,958,416 
Fidelity Series Overseas Fund (b) 1,496,224 12,942,340 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $85,945,112)  72,568,000 
Bond Funds - 6.5%   
Fidelity Series Emerging Markets Debt Fund (b) 145,425 1,172,125 
Fidelity Series Floating Rate High Income Fund (b) 31,485 253,138 
Fidelity Series High Income Fund (b) 173,558 1,430,114 
Fidelity Series Inflation-Protected Bond Index Fund (b) 394,871 3,980,302 
Fidelity Series International Credit Fund (b) 3,443 32,917 
Fidelity Series Long-Term Treasury Bond Index Fund (b) 424,991 4,543,154 
Fidelity Series Real Estate Income Fund (b) 94,594 796,485 
TOTAL BOND FUNDS   
(Cost $11,949,049)  12,208,235 
Short-Term Funds - 3.6%   
Fidelity Cash Central Fund 0.29% (c) 698,142 698,351 
Fidelity Series Government Money Market Fund 0.4% (b)(d) 5,554,313 5,554,313 
Fidelity Series Short-Term Credit Fund (b) 41,423 409,257 
TOTAL SHORT-TERM FUNDS   
(Cost $6,663,252)  6,661,921 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $222,423,271)  186,549,381 
NET OTHER ASSETS (LIABILITIES) - 0.1%  109,071 
NET ASSETS - 100%  $186,658,452 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI Emerging Markets Index Contracts (United States) June 2020 $42,145 $2,433 $2,433 
Sold      
Equity Index Contracts      
CME E-mini S&P 500 Index Contracts (United States) June 2020 513,940 22,555 22,555 
TOTAL FUTURES CONTRACTS     $24,988 

The notional amount of futures purchased as a percentage of Net Assets is 0.0%

The notional amount of futures sold as a percentage of Net Assets is 0.3%

Legend

 (a) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $199,963.

 (b) Affiliated Fund

 (c) 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.

 (d) 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 $3,961 
Total $3,961 

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 $10,807,476 $6,579,067 $4,574,995 $1,571,521 $(25,102) $(1,465,129) $11,321,317 
Fidelity Advisor Series Growth Opportunities Fund 7,827,409 5,245,670 3,774,763 1,924,280 (12,335) (1,980,351) 7,305,630 
Fidelity Advisor Series Small Cap Fund 4,893,239 2,682,188 1,531,657 181,405 (41,879) (1,174,725) 4,827,166 
Fidelity Series All-Sector Equity Fund 4,970,143 3,034,129 1,930,759 749,859 (110,165) (994,791) 4,968,557 
Fidelity Series Canada Fund 1,414,595 3,618,502 378,328 53,182 5,381 (951,721) 3,708,429 
Fidelity Series Commodity Strategy Fund 3,728,027 5,799,668 1,458,995 105,670 (151,503) (1,700,946) 6,216,251 
Fidelity Series Emerging Markets Debt Fund 890,104 736,919 225,792 66,111 (17,196) (211,910) 1,172,125 
Fidelity Series Emerging Markets Fund 1,454,460 1,772,268 267,731 59,505 (11,854) (750,764) 2,196,379 
Fidelity Series Emerging Markets Opportunities Fund 13,552,589 13,785,884 2,689,135 587,290 (1,875) (4,140,952) 20,506,511 
Fidelity Series Floating Rate High Income Fund 188,363 138,715 36,559 13,783 (333) (37,048) 253,138 
Fidelity Series Government Money Market Fund 0.4% 1,076,148 7,571,157 3,092,992 31,345 -- -- 5,554,313 
Fidelity Series High Income Fund 1,586,541 704,713 662,423 89,774 (15,650) (183,067) 1,430,114 
Fidelity Series Inflation-Protected Bond Index Fund 434,037 4,604,716 1,073,850 53,532 1,616 13,783 3,980,302 
Fidelity Series International Credit Fund 32,058 2,041 -- 2,041 -- (1,182) 32,917 
Fidelity Series International Growth Fund 13,921,466 7,920,190 5,442,015 733,568 (26,982) (832,921) 15,539,738 
Fidelity Series International Small Cap Fund 3,214,565 2,031,631 870,719 192,586 (49,430) (609,860) 3,716,187 
Fidelity Series International Value Fund 13,068,231 9,463,254 4,310,308 787,783 (92,994) (4,169,767) 13,958,416 
Fidelity Series Investment Grade Bond Fund 856,998 733,615 1,649,306 19,935 70,263 (11,570) -- 
Fidelity Series Large Cap Stock Fund 17,896,860 10,290,395 5,813,452 1,456,984 (81,067) (3,876,205) 18,416,531 
Fidelity Series Large Cap Value Index Fund 1,956,244 1,118,779 606,432 157,389 (1,403) (549,499) 1,917,689 
Fidelity Series Long-Term Treasury Bond Index Fund 5,345,055 3,760,750 5,643,898 510,725 393,751 687,496 4,543,154 
Fidelity Series Opportunistic Insights Fund 10,027,695 5,924,368 3,714,650 1,229,656 (45,502) (1,484,719) 10,707,192 
Fidelity Series Overseas Fund -- 15,071,871 -- 36,173 -- (2,129,531) 12,942,340 
Fidelity Series Real Estate Income Fund 701,595 446,602 115,046 55,144 (2,642) (234,024) 796,485 
Fidelity Series Short-Term Credit Fund 296,330 384,725 268,502 10,364 261 (3,557) 409,257 
Fidelity Series Small Cap Opportunities Fund 6,242,123 3,571,987 1,776,377 500,177 (40,075) (1,895,303) 6,102,355 
Fidelity Series Stock Selector Large Cap Value Fund 11,694,360 6,745,419 3,543,341 952,103 (157,745) (3,356,440) 11,382,253 
Fidelity Series Value Discovery Fund 11,424,896 6,643,803 3,320,171 691,772 (57,538) (2,944,669) 11,746,321 
 149,501,607 130,383,026 58,772,196 12,823,657 (471,998) (34,989,372) 185,651,067 

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, 2020, 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 $199,963 $-- $199,963 $-- 
Domestic Equity Funds 94,911,262 94,911,262 -- -- 
International Equity Funds 72,568,000 72,568,000 -- -- 
Bond Funds 12,208,235 12,208,235 -- -- 
Short-Term Funds 6,661,921 6,661,921 -- -- 
Total Investments in Securities: $186,549,381 $186,349,418 $199,963 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $24,988 $24,988 $-- $-- 
Total Assets $24,988 $24,988 $-- $-- 
Total Derivative Instruments: $24,988 $24,988 $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of March 31, 2020. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type Value 
 Asset Liability 
Equity Risk   
Futures Contracts(a) $24,988 $0 
Total Equity Risk 24,988 
Total Value of Derivatives $24,988 $0 

 (a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $199,748) 
$199,963  
Fidelity Central Funds (cost $698,326) 698,351  
Other affiliated issuers (cost $221,525,197) 185,651,067  
Total Investment in Securities (cost $222,423,271)  $186,549,381 
Segregated cash with brokers for derivative instruments  107,520 
Receivable for investments sold  156,968 
Receivable for fund shares sold  497,381 
Distributions receivable from Fidelity Central Funds  377 
Receivable for daily variation margin on futures contracts  32,765 
Total assets  187,344,392 
Liabilities   
Payable to custodian bank $3  
Payable for investments purchased 244,095  
Payable for fund shares redeemed 300,126  
Accrued management fee 115,357  
Distribution and service plan fees payable 26,359  
Total liabilities  685,940 
Net Assets  $186,658,452 
Net Assets consist of:   
Paid in capital  $217,568,798 
Total accumulated earnings (loss)  (30,910,346) 
Net Assets  $186,658,452 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($65,791,988 ÷ 6,931,204 shares)(a)  $9.49 
Maximum offering price per share (100/94.25 of $9.49)  $10.07 
Class M:   
Net Asset Value and redemption price per share ($21,679,869 ÷ 2,288,143 shares)(a)  $9.47 
Maximum offering price per share (100/96.50 of $9.47)  $9.81 
Class C:   
Net Asset Value and offering price per share ($4,022,304 ÷ 425,279 shares)(a)  $9.46 
Class I:   
Net Asset Value, offering price and redemption price per share ($87,182,079 ÷ 9,142,866 shares)  $9.54 
Class Z:   
Net Asset Value, offering price and redemption price per share ($1,514,328 ÷ 159,552 shares)  $9.49 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($6,467,884 ÷ 678,524 shares)  $9.53 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $4,236,763 
Interest  1,878 
Income from Fidelity Central Funds  3,961 
Total income  4,242,602 
Expenses   
Management fee $1,397,360  
Distribution and service plan fees 325,607  
Independent trustees' fees and expenses 699  
Total expenses before reductions 1,723,666  
Expense reductions (215)  
Total expenses after reductions  1,723,451 
Net investment income (loss)  2,519,151 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 487  
Affiliated issuers (471,998)  
Futures contracts 502,469  
Capital gain distributions from underlying funds:   
Affiliated issuers 8,586,894  
Total net realized gain (loss)  8,617,852 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 213  
Fidelity Central Funds 25  
Other affiliated issuers (34,989,372)  
Futures contracts 39,491  
Total change in net unrealized appreciation (depreciation)  (34,949,643) 
Net gain (loss)  (26,331,791) 
Net increase (decrease) in net assets resulting from operations  $(23,812,640) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,519,151 $1,896,856 
Net realized gain (loss) 8,617,852 9,063,496 
Change in net unrealized appreciation (depreciation) (34,949,643) (6,613,719) 
Net increase (decrease) in net assets resulting from operations (23,812,640) 4,346,633 
Distributions to shareholders (11,164,327) (8,781,108) 
Share transactions - net increase (decrease) 71,887,699 56,756,059 
Total increase (decrease) in net assets 36,910,732 52,321,584 
Net Assets   
Beginning of period 149,747,720 97,426,136 
End of period $186,658,452 $149,747,720 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.31 $11.86 $10.76 $9.62 $10.34 
Income from Investment Operations      
Net investment income (loss)A .14 .17 .10 .13 .12 
Net realized and unrealized gain (loss) (1.24) .13 1.34 1.33 (.51) 
Total from investment operations (1.10) .30 1.44 1.46 (.39) 
Distributions from net investment income (.14) (.17) (.11) (.12) (.11) 
Distributions from net realized gain (.58) (.68) (.23) (.20) (.22) 
Total distributions (.72) (.85) (.34) (.32) (.33) 
Net asset value, end of period $9.49 $11.31 $11.86 $10.76 $9.62 
Total ReturnB,C (10.65)% 3.09% 13.44% 15.55% (3.89)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions 1.00% 1.00% .91% .25% .25% 
Expenses net of fee waivers, if any 1.00% 1.00% .91% .25% .25% 
Expenses net of all reductions 1.00% 1.00% .91% .25% .25% 
Net investment income (loss) 1.25% 1.48% .84% 1.30% 1.29% 
Supplemental Data      
Net assets, end of period (000 omitted) $65,792 $55,732 $37,880 $18,482 $9,058 
Portfolio turnover rateE 31% 27% 16% 32% 64% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2060 Fund Class M

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.29 $11.85 $10.77 $9.63 $10.33 
Income from Investment Operations      
Net investment income (loss)A .11 .14 .07 .11 .10 
Net realized and unrealized gain (loss) (1.23) .14 1.33 1.33 (.51) 
Total from investment operations (1.12) .28 1.40 1.44 (.41) 
Distributions from net investment income (.12) (.16) (.10) (.10) (.08) 
Distributions from net realized gain (.58) (.68) (.22) (.20) (.21) 
Total distributions (.70) (.84) (.32) (.30) (.29) 
Net asset value, end of period $9.47 $11.29 $11.85 $10.77 $9.63 
Total ReturnB,C (10.87)% 2.82% 13.04% 15.29% (4.09)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions 1.25% 1.25% 1.16% .50% .50% 
Expenses net of fee waivers, if any 1.25% 1.25% 1.16% .50% .50% 
Expenses net of all reductions 1.25% 1.25% 1.16% .50% .50% 
Net investment income (loss) 1.00% 1.23% .59% 1.05% 1.04% 
Supplemental Data      
Net assets, end of period (000 omitted) $21,680 $19,070 $12,628 $5,719 $3,189 
Portfolio turnover rateE 31% 27% 16% 32% 64% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2060 Fund Class C

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.29 $11.87 $10.81 $9.68 $10.31 
Income from Investment Operations      
Net investment income (loss)A .06 .08 .01 .06 .05 
Net realized and unrealized gain (loss) (1.24) .14 1.34 1.33 (.51) 
Total from investment operations (1.18) .22 1.35 1.39 (.46) 
Distributions from net investment income (.08) (.12) (.07) (.06) – 
Distributions from net realized gain (.57) (.68) (.22) (.20) (.17) 
Total distributions (.65) (.80) (.29) (.26) (.17) 
Net asset value, end of period $9.46 $11.29 $11.87 $10.81 $9.68 
Total ReturnB,C (11.27)% 2.33% 12.53% 14.65% (4.60)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions 1.75% 1.75% 1.66% 1.00% .99% 
Expenses net of fee waivers, if any 1.75% 1.75% 1.66% 1.00% .99% 
Expenses net of all reductions 1.75% 1.75% 1.66% 1.00% .99% 
Net investment income (loss) .50% .72% .09% .55% .55% 
Supplemental Data      
Net assets, end of period (000 omitted) $4,022 $3,723 $2,604 $1,209 $1,292 
Portfolio turnover rateE 31% 27% 16% 32% 64% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2060 Fund Class I

Years ended March 31, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.36 $11.90 $10.80 $9.65 $10.35 
Income from Investment Operations      
Net investment income (loss)A .17 .20 .13 .16 .15 
Net realized and unrealized gain (loss) (1.24) .13 1.33 1.33 (.50) 
Total from investment operations (1.07) .33 1.46 1.49 (.35) 
Distributions from net investment income (.16) (.20) (.13) (.13) (.12) 
Distributions from net realized gain (.59) (.68) (.23) (.20) (.23) 
Total distributions (.75) (.87)B (.36) (.34)C (.35) 
Net asset value, end of period $9.54 $11.36 $11.90 $10.80 $9.65 
Total ReturnD (10.38)% 3.38% 13.63% 15.82% (3.54)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .75% .75% .66% - %G - %G 
Expenses net of fee waivers, if any .75% .75% .66% -% -% 
Expenses net of all reductions .75% .75% .66% -% -% 
Net investment income (loss) 1.50% 1.73% 1.09% 1.55% 1.54% 
Supplemental Data      
Net assets, end of period (000 omitted) $87,182 $68,445 $43,513 $18,162 $5,845 
Portfolio turnover rateF 31% 27% 16% 32% 64% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.87 per share is comprised of distributions from net investment income of $.195 and distributions from net realized gain of $.679 per share.

 C Total distributions of $.34 per share is comprised of distributions from net investment income of $.132 and distributions from net realized gain of $.204 per share.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Amount represents less than .005%.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2060 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $11.32 $12.10 
Income from Investment Operations   
Net investment income (loss)B .18 .23 
Net realized and unrealized gain (loss) (1.23) (.46)C 
Total from investment operations (1.05) (.23) 
Distributions from net investment income (.18) (.24) 
Distributions from net realized gain (.60) (.31) 
Total distributions (.78) (.55) 
Net asset value, end of period $9.49 $11.32 
Total ReturnD,E (10.32)% (1.34)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .65%H .64%H,I 
Expenses net of fee waivers, if any .65%H .64%H,I 
Expenses net of all reductions .65%H .64%H,I 
Net investment income (loss) 1.60% 4.28%I 
Supplemental Data   
Net assets, end of period (000 omitted) $1,514 $284 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2060 Fund Class Z6

Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $11.36 $11.90 $11.16 
Income from Investment Operations    
Net investment income (loss)B .20 .23 .33 
Net realized and unrealized gain (loss) (1.25) .13 .69 
Total from investment operations (1.05) .36 1.02 
Distributions from net investment income (.19) (.22) (.16) 
Distributions from net realized gain (.60) (.68) (.13) 
Total distributions (.78)C (.90) (.28)D 
Net asset value, end of period $9.53 $11.36 $11.90 
Total ReturnE,F (10.24)% 3.63% 9.14% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .50%I .50%I .50%I,J 
Expenses net of fee waivers, if any .50%I .50%I .50%I,J 
Expenses net of all reductions .50%I .50%I .50%I,J 
Net investment income (loss) 1.75% 1.98% 3.41%J 
Supplemental Data    
Net assets, end of period (000 omitted) $6,468 $2,493 $802 
Portfolio turnover rateH 31% 27% 16%J 

 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 of $.78 per share is comprised of distributions from net investment income of $.186 and distributions from net realized gain of $.595 per share.

 D Total distributions of $.28 per share is comprised of distributions from net investment income of $.155 and distributions from net realized gain of $.127 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 J Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Emerging Markets Opportunities Fund 11.2 
Fidelity Series Large Cap Stock Fund 9.8 
Fidelity Series International Growth Fund 8.3 
Fidelity Series International Value Fund 7.5 
Fidelity Series Overseas Fund 7.2 
Fidelity Series Stock Selector Large Cap Value Fund 6.3 
Fidelity Series Value Discovery Fund 6.2 
Fidelity Advisor Series Equity Growth Fund 5.7 
Fidelity Series Opportunistic Insights Fund 5.3 
Fidelity Advisor Series Growth Opportunities Fund 3.7 
 71.2 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.1% 
   International Equity Funds 39.5% 
   Bond Funds 6.6% 
   Short-Term Funds 3.8% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 50.1%   
 Shares Value 
Fidelity Advisor Series Equity Growth Fund (a) 27,557 $339,223 
Fidelity Advisor Series Growth Opportunities Fund (a) 20,346 223,605 
Fidelity Advisor Series Small Cap Fund (a) 19,061 159,728 
Fidelity Series All-Sector Equity Fund (a) 19,689 154,360 
Fidelity Series Commodity Strategy Fund (a) 55,317 201,905 
Fidelity Series Large Cap Stock Fund (a) 48,945 586,850 
Fidelity Series Large Cap Value Index Fund (a) 6,262 60,178 
Fidelity Series Opportunistic Insights Fund (a) 20,668 316,634 
Fidelity Series Small Cap Opportunities Fund (a) 19,787 200,839 
Fidelity Series Stock Selector Large Cap Value Fund (a) 41,613 373,687 
Fidelity Series Value Discovery Fund (a) 37,232 369,715 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $3,640,648)  2,986,724 
International Equity Funds - 39.5%   
Fidelity Series Canada Fund (a) 15,237 126,311 
Fidelity Series Emerging Markets Fund (a) 10,171 72,011 
Fidelity Series Emerging Markets Opportunities Fund (a) 42,828 666,838 
Fidelity Series International Growth Fund (a) 34,022 492,638 
Fidelity Series International Small Cap Fund (a) 8,897 118,950 
Fidelity Series International Value Fund (a) 62,315 444,926 
Fidelity Series Overseas Fund (a) 49,946 432,031 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $2,817,099)  2,353,705 
Bond Funds - 6.6%   
Fidelity Series Emerging Markets Debt Fund (a) 4,829 38,924 
Fidelity Series Floating Rate High Income Fund (a) 1,144 9,197 
Fidelity Series High Income Fund (a) 5,541 45,654 
Fidelity Series Inflation-Protected Bond Index Fund (a) 12,465 125,650 
Fidelity Series International Credit Fund (a) 314 2,999 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 13,467 143,957 
Fidelity Series Real Estate Income Fund (a) 3,050 25,680 
TOTAL BOND FUNDS   
(Cost $393,970)  392,061 
Short-Term Funds - 3.8%   
Fidelity Cash Central Fund 0.29% (b) 197 197 
Fidelity Series Government Money Market Fund 0.4% (a)(c) 204,105 204,105 
Fidelity Series Short-Term Credit Fund (a) 2,408 23,791 
TOTAL SHORT-TERM FUNDS   
(Cost $228,641)  228,093 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $7,080,358)  5,960,583 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (748) 
NET ASSETS - 100%  $5,959,835 

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 $200 
Total $200 

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 $-- $442,204 $50,642 $21,959 $(3,022) $(49,317) $339,223 
Fidelity Advisor Series Growth Opportunities Fund -- 304,815 30,637 26,878 (3,599) (46,974) 223,605 
Fidelity Advisor Series Small Cap Fund -- 223,023 21,034 2,564 (1,191) (41,070) 159,728 
Fidelity Series All-Sector Equity Fund -- 209,370 17,859 13,964 (1,324) (35,827) 154,360 
Fidelity Series Canada Fund -- 163,439 6,578 696 (187) (30,363) 126,311 
Fidelity Series Commodity Strategy Fund -- 263,414 17,304 905 (1,745) (42,460) 201,905 
Fidelity Series Emerging Markets Debt Fund -- 47,030 1,841 702 (27) (6,238) 38,924 
Fidelity Series Emerging Markets Fund -- 96,220 4,888 775 (230) (19,091) 72,011 
Fidelity Series Emerging Markets Opportunities Fund -- 845,939 36,484 7,762 (1,242) (141,375) 666,838 
Fidelity Series Floating Rate High Income Fund -- 10,772 444 157 (4) (1,127) 9,197 
Fidelity Series Government Money Market Fund 0.4% -- 241,275 37,170 320 -- -- 204,105 
Fidelity Series High Income Fund -- 54,499 3,015 911 (159) (5,671) 45,654 
Fidelity Series Inflation-Protected Bond Index Fund -- 147,511 21,762 808 (97) (2) 125,650 
Fidelity Series International Credit Fund -- 3,360 148 55 (3) (210) 2,999 
Fidelity Series International Growth Fund -- 623,133 57,930 9,268 (4,330) (68,235) 492,638 
Fidelity Series International Small Cap Fund -- 159,514 16,610 2,787 (1,382) (22,572) 118,950 
Fidelity Series International Value Fund -- 609,682 41,797 10,277 (2,308) (120,651) 444,926 
Fidelity Series Investment Grade Bond Fund -- 13,720 13,526 62 (194) -- -- 
Fidelity Series Large Cap Stock Fund -- 773,403 60,122 11,422 (4,061) (122,370) 586,850 
Fidelity Series Large Cap Value Index Fund -- 84,004 6,863 2,239 (500) (16,463) 60,178 
Fidelity Series Long-Term Treasury Bond Index Fund -- 196,481 72,008 5,800 840 18,644 143,957 
Fidelity Series Opportunistic Insights Fund -- 408,380 39,849 18,246 (2,171) (49,726) 316,634 
Fidelity Series Overseas Fund -- 506,130 12,773 447 (220) (61,106) 432,031 
Fidelity Series Real Estate Income Fund -- 34,395 1,392 453 (19) (7,304) 25,680 
Fidelity Series Short-Term Credit Fund -- 26,969 2,631 118 (548) 23,791 
Fidelity Series Small Cap Opportunities Fund -- 274,240 21,480 3,078 (1,468) (50,453) 200,839 
Fidelity Series Stock Selector Large Cap Value Fund -- 523,218 38,533 15,993 (3,092) (107,906) 373,687 
Fidelity Series Value Discovery Fund -- 502,126 38,555 10,973 (2,496) (91,360) 369,715 
 -- 7,788,266 673,875 169,619 (34,230) (1,119,775) 5,960,386 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $197) $197  
Other affiliated issuers (cost $7,080,161) 5,960,386  
Total Investment in Securities (cost $7,080,358)  $5,960,583 
Cash  
Receivable for investments sold  20,961 
Receivable for fund shares sold  19,945 
Total assets  6,001,490 
Liabilities   
Payable for investments purchased $30,866  
Payable for fund shares redeemed 7,120  
Accrued management fee 3,057  
Distribution and service plan fees payable 612  
Total liabilities  41,655 
Net Assets  $5,959,835 
Net Assets consist of:   
Paid in capital  $7,015,480 
Total accumulated earnings (loss)  (1,055,645) 
Net Assets  $5,959,835 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($1,980,027 ÷ 233,746 shares)(a)  $8.47 
Maximum offering price per share (100/94.25 of $8.47)  $8.99 
Class M:   
Net Asset Value and redemption price per share ($332,143 ÷ 39,227 shares)(a)  $8.47 
Maximum offering price per share (100/96.50 of $8.47)  $8.78 
Class C:   
Net Asset Value and offering price per share ($183,299 ÷ 21,672 shares)(a)  $8.46 
Class I:   
Net Asset Value, offering price and redemption price per share ($2,383,396 ÷ 280,967 shares)  $8.48 
Class Z:   
Net Asset Value, offering price and redemption price per share ($175,986 ÷ 20,730 shares)  $8.49 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($904,984 ÷ 106,479 shares)  $8.50 

 (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

  For the period
June 28, 2019 (commencement of operations) to
March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $49,933 
Income from Fidelity Central Funds  200 
Total income  50,133 
Expenses   
Management fee $13,688  
Distribution and service plan fees 3,602  
Independent trustees' fees and expenses  
Total expenses  17,295 
Net investment income (loss)  32,838 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers (34,230)  
Capital gain distributions from underlying funds:   
Affiliated issuers 119,686  
Total net realized gain (loss)  85,456 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (1,119,775)  
Total change in net unrealized appreciation (depreciation)  (1,119,775) 
Net gain (loss)  (1,034,319) 
Net increase (decrease) in net assets resulting from operations  $(1,001,481) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 For the period
June 28, 2019 (commencement of operations) to
March 31, 2020 
Increase (Decrease) in Net Assets  
Operations  
Net investment income (loss) $32,838 
Net realized gain (loss) 85,456 
Change in net unrealized appreciation (depreciation) (1,119,775) 
Net increase (decrease) in net assets resulting from operations (1,001,481) 
Distributions to shareholders (54,165) 
Share transactions - net increase (decrease) 7,015,481 
Total increase (decrease) in net assets 5,959,835 
Net Assets  
Beginning of period – 
End of period $5,959,835 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Advisor Freedom 2065 Fund Class A

Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .12 
Net realized and unrealized gain (loss) (1.48) 
Total from investment operations (1.36) 
Distributions from net investment income (.13) 
Distributions from net realized gain (.04) 
Total distributions (.17) 
Net asset value, end of period $8.47 
Total ReturnC,D (13.92)% 
Ratios to Average Net AssetsE,F  
Expenses before reductions 1.01%G,H 
Expenses net of fee waivers, if any 1.01%G,H 
Expenses net of all reductions 1.01%G,H 
Net investment income (loss) 1.60%G 
Supplemental Data  
Net assets, end of period (000 omitted) $1,980 
Portfolio turnover rateF 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2065 Fund Class M

Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .10 
Net realized and unrealized gain (loss) (1.47) 
Total from investment operations (1.37) 
Distributions from net investment income (.11) 
Distributions from net realized gain (.04) 
Total distributions (.16)C 
Net asset value, end of period $8.47 
Total ReturnD,E (14.05)% 
Ratios to Average Net AssetsF,G  
Expenses before reductions 1.25%H 
Expenses net of fee waivers, if any 1.25%H 
Expenses net of all reductions 1.25%H 
Net investment income (loss) 1.35%H 
Supplemental Data  
Net assets, end of period (000 omitted) $332 
Portfolio turnover rateG 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 of $.16 per share is comprised of distributions from net investment income of $.114 and distributions from net realized gain of $.044 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2065 Fund Class C

Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .06 
Net realized and unrealized gain (loss) (1.47) 
Total from investment operations (1.41) 
Distributions from net investment income (.09) 
Distributions from net realized gain (.04) 
Total distributions (.13) 
Net asset value, end of period $8.46 
Total ReturnC,D (14.38)% 
Ratios to Average Net AssetsE,F  
Expenses before reductions 1.75%G 
Expenses net of fee waivers, if any 1.75%G 
Expenses net of all reductions 1.75%G 
Net investment income (loss) .86%G 
Supplemental Data  
Net assets, end of period (000 omitted) $183 
Portfolio turnover rateF 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 contingent deferred sales charge.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2065 Fund Class I

Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .14 
Net realized and unrealized gain (loss) (1.48) 
Total from investment operations (1.34) 
Distributions from net investment income (.14) 
Distributions from net realized gain (.04) 
Total distributions (.18) 
Net asset value, end of period $8.48 
Total ReturnC (13.78)% 
Ratios to Average Net AssetsD,E  
Expenses before reductions .75%F 
Expenses net of fee waivers, if any .75%F 
Expenses net of all reductions .75%F 
Net investment income (loss) 1.85%F 
Supplemental Data  
Net assets, end of period (000 omitted) $2,383 
Portfolio turnover rateE 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2065 Fund Class Z

Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .15 
Net realized and unrealized gain (loss) (1.48) 
Total from investment operations (1.33) 
Distributions from net investment income (.14) 
Distributions from net realized gain (.04) 
Total distributions (.18) 
Net asset value, end of period $8.49 
Total ReturnC (13.68)% 
Ratios to Average Net AssetsD,E  
Expenses before reductions .64%F 
Expenses net of fee waivers, if any .64%F 
Expenses net of all reductions .64%F 
Net investment income (loss) 1.96%F 
Supplemental Data  
Net assets, end of period (000 omitted) $176 
Portfolio turnover rateE 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Advisor Freedom 2065 Fund Class Z6

Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .15 
Net realized and unrealized gain (loss) (1.47) 
Total from investment operations (1.32) 
Distributions from net investment income (.14) 
Distributions from net realized gain (.04) 
Total distributions (.18) 
Net asset value, end of period $8.50 
Total ReturnC (13.58)% 
Ratios to Average Net AssetsD,E  
Expenses before reductions .50%F,G 
Expenses net of fee waivers, if any .50%F,G 
Expenses net of all reductions .50%F,G 
Net investment income (loss) 2.11%F 
Supplemental Data  
Net assets, end of period (000 omitted) $905 
Portfolio turnover rateE 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Annualized

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Notes to Financial Statements

For the period ended March 31, 2020

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. The Funds invest primarily in a combination of other Fidelity equity, bond, and short-term funds (the Underlying Funds) managed by Fidelity Management & Research Company LLC (FMR).

Effective January 1, 2020:

Investment advisers Fidelity Investments Money Management, Inc., FMR Co., Inc., and Fidelity SelectCo, LLC, merged with and into Fidelity Management & Research Company. In connection with the merger transactions, the resulting, merged investment adviser was then redomiciled from Massachusetts to Delaware, changed its corporate structure from a corporation to a limited liability company, and changed its name to "Fidelity Management & Research Company LLC".

Broker-dealer Fidelity Distributors Corporation merged with and into Fidelity Investments Institutional Services Company, Inc. ("FIISC"). FIISC was then redomiciled from Massachusetts to Delaware, changed its corporate structure from a corporation to a limited liability company, and changed its name to "Fidelity Distributors Company LLC".

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 does 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 – Investments 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. The following summarizes the significant accounting policies of the Funds:

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 the Underlying 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.

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 the Underlying Funds, if any, 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 the Underlying Funds. Although not included in each Fund's expenses, each Fund indirectly bears its proportionate share of the Underlying Funds' expenses through the impact of these expenses on each Underlying Fund's 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, 2020, 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, market discount 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) 
Advisor Freedom Income $210,126,563 $9,761,211 $(6,883,075) $2,878,136 
Advisor Freedom 2005 147,397,686 7,777,780 (4,786,912) 2,990,868 
Advisor Freedom 2010 351,472,135 20,289,787 (14,264,205) 6,025,582 
Advisor Freedom 2015 754,499,852 52,765,194 (34,342,475) 18,422,719 
Advisor Freedom 2020 1,857,095,702 112,680,058 (102,532,420) 10,147,638 
Advisor Freedom 2025 2,497,942,210 147,186,481 (165,916,355) (18,729,874) 
Advisor Freedom 2030 2,637,513,170 162,649,915 (208,855,566) (46,205,651) 
Advisor Freedom 2035 2,158,535,232 133,769,416 (220,292,414) (86,522,998) 
Advisor Freedom 2040 1,930,992,384 121,872,435 (214,663,938) (92,791,503) 
Advisor Freedom 2045 1,340,432,510 69,895,762 (166,809,657) (96,913,895) 
Advisor Freedom 2050 1,087,776,175 54,822,384 (138,186,765) (83,364,381) 
Advisor Freedom 2055 672,840,869 14,577,829 (104,077,564) (89,499,735) 
Advisor Freedom 2060 224,909,999 2,108,317 (40,468,935) (38,360,618) 
Advisor Freedom 2065 7,116,121 65,179 (1,220,717) (1,155,538) 

Certain of the Funds intend to elect to defer to the next fiscal year ordinary losses recognized during the period January 1, 2020 to March 31, 2020. Loss deferrals were as follows:

 Ordinary losses 
Advisor Freedom 2035 $(1,529,880) 
Advisor Freedom 2040 (2,598,441) 
Advisor Freedom 2045 (815,646) 
Advisor Freedom 2050 (268,998) 
Advisor Freedom 2055 (103,617) 

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 
Advisor Freedom Income $720,651 $2,297,796 $2,878,136 
Advisor Freedom 2005 505,885 2,880,027 2,990,868 
Advisor Freedom 2010 901,148 9,211,291 6,025,582 
Advisor Freedom 2015 1,990,889 27,691,761 18,422,719 
Advisor Freedom 2020 3,197,940 71,810,701 10,147,638 
Advisor Freedom 2025 1,519,230 91,782,340 (18,729,874) 
Advisor Freedom 2030 2,985,958 105,379,771 (46,205,651) 
Advisor Freedom 2035 – 95,243,065 (86,522,998) 
Advisor Freedom 2040 88,120,904 (92,791,503) 
Advisor Freedom 2045 – 53,826,505 (96,913,895) 
Advisor Freedom 2050 – 44,515,691 (83,364,381) 
Advisor Freedom 2055 – 25,173,439 (89,499,735) 
Advisor Freedom 2060 43,024 7,407,249 (38,360,618) 
Advisor Freedom 2065 3,754 96,137 (1,155,538) 

The tax character of distributions paid was as follows:

March 31, 2020    
 Ordinary Income Long-term Capital Gains Total 
Advisor Freedom Income $4,500,118 $3,621,398 $8,121,516 
Advisor Freedom 2005 3,261,005 4,431,052 7,692,057 
Advisor Freedom 2010 8,092,354 15,234,999 23,327,353 
Advisor Freedom 2015 18,079,246 45,391,251 63,470,497 
Advisor Freedom 2020 41,590,553 108,882,864 150,473,417 
Advisor Freedom 2025 53,592,916 138,075,197 191,668,113 
Advisor Freedom 2030 51,225,553 159,433,198 210,658,751 
Advisor Freedom 2035 38,802,718 143,386,555 182,189,273 
Advisor Freedom 2040 34,019,763 125,986,324 160,006,087 
Advisor Freedom 2045 23,411,851 79,458,740 102,870,591 
Advisor Freedom 2050 19,260,897 63,178,158 82,439,055 
Advisor Freedom 2055 11,660,750 33,192,733 44,853,483 
Advisor Freedom 2060 3,408,752 7,755,575 11,164,327 
Advisor Freedom 2065(a) 48,847 5,318 54,165 

 (a) For the period June 28, 2019 (commencement of operations) to March 31, 2020.

March 31, 2019    
 Ordinary Income Long-term Capital Gains Total 
Advisor Freedom Income $5,220,574 $6,646,962 $11,867,536 
Advisor Freedom 2005 4,168,017 9,316,705 13,484,722 
Advisor Freedom 2010 9,986,497 26,154,506 36,141,003 
Advisor Freedom 2015 23,645,771 72,444,459 96,090,230 
Advisor Freedom 2020 55,628,035 146,778,899 202,406,934 
Advisor Freedom 2025 68,464,636 178,254,357 246,718,993 
Advisor Freedom 2030 68,808,412 205,744,973 274,553,385 
Advisor Freedom 2035 51,664,592 185,484,438 237,149,030 
Advisor Freedom 2040 45,669,659 168,998,076 214,667,735 
Advisor Freedom 2045 29,480,638 103,862,304 133,342,942 
Advisor Freedom 2050 23,407,319 82,219,197 105,626,516 
Advisor Freedom 2055 12,761,189 37,180,373 49,941,562 
Advisor Freedom 2060 2,743,748 6,037,360 8,781,108 

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 risks:

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.
 
Interest Rate Risk Interest rate risk relates to the fluctuations in the value of interest-bearing securities due to changes in the prevailing levels of market interest rates. 

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.

Net Realized Gain (Loss) and Change in Net Unrealized Appreciation (Depreciation) on Derivatives. The table below, which reflects the impacts of derivatives on the financial performance of the Funds, summarizes the net realized gain (loss) and change in net unrealized appreciation (depreciation) for derivatives during the period as presented in the Statement of Operations.

Primary Risk Exposure / Derivative Type Net Realized Gain (Loss) Change in Net Unrealized Appreciation (Depreciation) 
Advisor Freedom Income   
Equity Risk   
Futures Contracts $535,008 $33,657 
Total Equity Risk 535,008 33,657 
Interest Rate Risk   
Futures Contracts 3,412 (4,557) 
Total Interest Rate Risk 3,412 (4,557) 
Totals $538,420 $29,100 
Advisor Freedom 2005   
Equity Risk   
Futures Contracts $421,663 $25,068 
Total Equity Risk 421,663 25,068 
Interest Rate Risk   
Futures Contracts 6,420 (5,875) 
Total Interest Rate Risk 6,420 (5,875) 
Totals $428,083 $19,193 
Advisor Freedom 2010   
Equity Risk   
Futures Contracts $1,057,515 $74,495 
Total Equity Risk 1,057,515 74,495 
Interest Rate Risk   
Futures Contracts 32,096 (31,299) 
Total Interest Rate Risk 32,096 (31,299) 
Totals $1,089,611 $43,196 
Advisor Freedom 2015   
Equity Risk   
Futures Contracts $2,258,298 $192,505 
Total Equity Risk 2,258,298 192,505 
Interest Rate Risk   
Futures Contracts 98,018 (86,639) 
Total Interest Rate Risk 98,018 (86,639) 
Totals $2,356,316 $105,866 
Advisor Freedom 2020   
Equity Risk   
Futures Contracts $5,179,425 $421,117 
Total Equity Risk 5,179,425 421,117 
Interest Rate Risk   
Futures Contracts 253,223 (216,050) 
Total Interest Rate Risk 253,223 (216,050) 
Totals $5,432,648 $205,067 
Advisor Freedom 2025   
Equity Risk   
Futures Contracts $6,578,611 $542,920 
Total Equity Risk 6,578,611 542,920 
Interest Rate Risk   
Futures Contracts 346,993 (294,441) 
Total Interest Rate Risk 346,993 (294,441) 
Totals $6,925,604 $248,479 
Advisor Freedom 2030   
Equity Risk   
Futures Contracts $7,085,834 $598,682 
Total Equity Risk 7,085,834 598,682 
Interest Rate Risk   
Futures Contracts 310,498 (258,543) 
Total Interest Rate Risk 310,498 (258,543) 
Totals $7,396,332 $340,139 
Advisor Freedom 2035   
Equity Risk   
Futures Contracts $5,903,949 $548,340 
Total Equity Risk 5,903,949 548,340 
Interest Rate Risk   
Futures Contracts 303,372 (257,203) 
Total Interest Rate Risk 303,372 (257,203) 
Totals $6,207,321 $291,137 
Advisor Freedom 2040   
Equity Risk   
Futures Contracts $5,908,658 $283,457 
Total Equity Risk 5,908,658 283,457 
Interest Rate Risk   
Futures Contracts 105,915 (90,166) 
Total Interest Rate Risk 105,915 (90,166) 
Totals $6,014,573 $193,291 
Advisor Freedom 2045   
Equity Risk   
Futures Contracts $3,896,303 $215,810 
Total Equity Risk 3,896,303 215,810 
Interest Rate Risk   
Futures Contracts 64,613 (54,762) 
Total Interest Rate Risk 64,613 (54,762) 
Totals $3,960,916 $161,048 
Advisor Freedom 2050   
Equity Risk   
Futures Contracts $3,094,121 $184,741 
Total Equity Risk 3,094,121 184,741 
Interest Rate Risk   
Futures Contracts 50,500 (45,083) 
Total Interest Rate Risk 50,500 (45,083) 
Totals $3,144,621 $139,658 
Advisor Freedom 2055   
Equity Risk   
Futures Contracts $1,759,700 $106,138 
Total Equity Risk 1,759,700 106,138 
Interest Rate Risk   
Futures Contracts 29,472 (27,845) 
Total Interest Rate Risk 29,472 (27,845) 
Totals $1,789,172 $78,293 
Advisor Freedom 2060   
Equity Risk   
Futures Contracts $502,469 $39,491 
Total Equity Risk 502,469 39,491 
Totals $502,469 $39,491 

A summary of the value of derivatives by primary risk exposure as of period end is included at the end of the Schedule of Investments.

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. Securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

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 57,174,578 65,714,457 
Fidelity Advisor Freedom 2005 Fund 46,413,412 55,882,399 
Fidelity Advisor Freedom 2010 Fund 94,490,181 139,106,189 
Fidelity Advisor Freedom 2015 Fund 203,388,735 360,099,569 
Fidelity Advisor Freedom 2020 Fund 561,159,537 817,378,985 
Fidelity Advisor Freedom 2025 Fund 853,793,881 1,016,660,866 
Fidelity Advisor Freedom 2030 Fund 996,105,826 1,045,021,498 
Fidelity Advisor Freedom 2035 Fund 840,933,859 820,256,058 
Fidelity Advisor Freedom 2040 Fund 678,633,924 676,378,281 
Fidelity Advisor Freedom 2045 Fund 512,372,941 433,913,527 
Fidelity Advisor Freedom 2050 Fund 431,104,724 370,918,961 
Fidelity Advisor Freedom 2055 Fund 297,755,845 239,031,719 
Fidelity Advisor Freedom 2060 Fund 130,383,026 58,772,196 
Fidelity Advisor Freedom 2065 Fund 7,788,266 673,875 

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 .474% .422% 
Fidelity Advisor Freedom 2010 Fund .516% .454% 
Fidelity Advisor Freedom 2015 Fund .559% .489% 
Fidelity Advisor Freedom 2020 Fund .601% .524% 
Fidelity Advisor Freedom 2025 Fund .644% .559% 
Fidelity Advisor Freedom 2030 Fund .686% .594% 
Fidelity Advisor Freedom 2035 Fund .729% .629% 
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 .369% 
Fidelity Advisor Freedom 2010 Fund .388% 
Fidelity Advisor Freedom 2015 Fund .408% 
Fidelity Advisor Freedom 2020 Fund .427% 
Fidelity Advisor Freedom 2025 Fund .446% 
Fidelity Advisor Freedom 2030 Fund .466% 
Fidelity Advisor Freedom 2035 Fund .485% 
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 
Advisor Freedom Income     
Class A -% .25% $171,884 $3,926 
Class M .25% .25% 198,662 168 
Class C .75% .25% 81,432 9,972 
   $451,978 $14,066 
Advisor Freedom 2005     
Class A -% .25% $213,761 $5,839 
Class M .25% .25% 122,310 892 
Class C .75% .25% 19,032 2,371 
   $355,103 $9,102 
Advisor Freedom 2010     
Class A -% .25% $472,656 $24,948 
Class M .25% .25% 361,776 4,405 
Class C .75% .25% 102,312 7,841 
   $936,744 $37,194 
Advisor Freedom 2015     
Class A -% .25% $1,119,602 $38,966 
Class M .25% .25% 735,986 4,844 
Class C .75% .25% 267,909 19,803 
   $2,123,497 $63,613 
Advisor Freedom 2020     
Class A -% .25% $2,491,798 $94,401 
Class M .25% .25% 1,680,084 11,479 
Class C .75% .25% 568,268 61,762 
   $4,740,150 $167,642 
Advisor Freedom 2025     
Class A -% .25% $3,217,675 $108,751 
Class M .25% .25% 2,119,434 8,319 
Class C .75% .25% 608,983 86,546 
   $5,946,092 $203,616 
Advisor Freedom 2030     
Class A -% .25% $3,199,867 $101,168 
Class M .25% .25% 2,297,300 6,123 
Class C .75% .25% 650,797 88,366 
   $6,147,964 $195,657 
Advisor Freedom 2035     
Class A -% .25% $2,571,865 $81,962 
Class M .25% .25% 1,881,414 2,722 
Class C .75% .25% 441,753 67,818 
   $4,895,032 $152,502 
Advisor Freedom 2040     
Class A -% .25% $2,286,947 $75,015 
Class M .25% .25% 1,767,948 3,041 
Class C .75% .25% 511,071 62,870 
   $4,565,966 $140,926 
Advisor Freedom 2045     
Class A -% .25% $1,392,867 $48,515 
Class M .25% .25% 1,089,344 1,347 
Class C .75% .25% 262,705 43,143 
   $2,744,916 $93,005 
Advisor Freedom 2050     
Class A -% .25% $1,075,114 $34,134 
Class M .25% .25% 874,695 1,714 
Class C .75% .25% 257,223 44,331 
   $2,207,032 $80,179 
Advisor Freedom 2055     
Class A -% .25% $564,651 $16,155 
Class M .25% .25% 440,395 – 
Class C .75% .25% 114,059 23,948 
   $1,119,105 $40,103 
Advisor Freedom 2060     
Class A -% .25% $170,128 $5,925 
Class M .25% .25% 113,088 – 
Class C .75% .25% 42,391 15,189 
   $325,607 $21,114 
Advisor Freedom 2065     
Class A -% .25% $1,453 $335 
Class M .25% .25% 802 634 
Class C .75% .25% 1,347 1,346 
   $3,602 $2,315 

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 
Advisor Freedom Income  
Class A $6,438 
Class M 2,058 
Class C(a) 1,863 
 $10,359 
Advisor Freedom 2005  
Class A $3,306 
Class M 320 
Class C(a) 436 
 $4,062 
Advisor Freedom 2010  
Class A $4,652 
Class M 1,414 
Class C(a) 928 
 $6,994 
Advisor Freedom 2015  
Class A $12,426 
Class M 4,767 
Class C(a) 2,420 
 $19,613 
Advisor Freedom 2020  
Class A $43,581 
Class M 16,759 
Class C(a) 8,056 
 $68,396 
Advisor Freedom 2025  
Class A $78,252 
Class M 25,859 
Class C(a) 9,770 
 $113,881 
Advisor Freedom 2030  
Class A $87,061 
Class M 32,308 
Class C(a) 7,701 
 $127,070 
Advisor Freedom 2035  
Class A $80,150 
Class M 27,862 
Class C(a) 6,129 
 $114,141 
Advisor Freedom 2040  
Class A $79,619 
Class M 22,040 
Class C(a) 7,248 
 $108,907 
Advisor Freedom 2045  
Class A $57,519 
Class M 16,218 
Class C(a) 4,763 
 $78,500 
Advisor Freedom 2050  
Class A $65,285 
Class M 13,736 
Class C(a) 6,803 
 $85,824 
Advisor Freedom 2055  
Class A $44,247 
Class M 10,364 
Class C(a) 3,311 
 $57,922 
Advisor Freedom 2060  
Class A $26,803 
Class M 4,208 
Class C(a) 1,603 
 $32,614 
Advisor Freedom 2065  
Class A $1,215 
Class M 62 
 $1,277 

 (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. 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 Advisor Freedom Income Fund realized a gain of $256,414 from an operational error which is included in Net gain from Affiliate in the accompanying Statement of Operations. In addition, the investment adviser reimbursed each Fund in the table below for certain losses. Amounts for each Fund were as follows:

Fidelity Advisor Freedom Income Fund $6,017 
Fidelity Advisor Freedom 2025 Fund 5,840 
Fidelity Advisor Freedom 2035 Fund 6,163 
Fidelity Advisor Freedom 2040 Fund 2,677 
Fidelity Advisor Freedom 2045 Fund 8,143 
Fidelity Advisor Freedom 2050 Fund 5,574 
Fidelity Advisor Freedom 2055 Fund 3,416 

In addition, the investment adviser reimbursed each Fund in the table below for processing related to shareholder transactions which is included in Share Transactions in the accompanying Statement of Changes in Net Assets. Amounts for each Fund were as follows:

Fidelity Advisor Freedom 2020 Fund $14,397 
Fidelity Advisor Freedom 2025 Fund 107,707 
Fidelity Advisor Freedom 2030 Fund 1,480 
Fidelity Advisor Freedom 2035 Fund 53,099 
Fidelity Advisor Freedom 2040 Fund 24,074 
Fidelity Advisor Freedom 2045 Fund 46,938 
Fidelity Advisor Freedom 2050 Fund 48,959 
Fidelity Advisor Freedom 2055 Fund 23,141 
Fidelity Advisor Freedom 2060 Fund 3,487 

7. 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 
Advisor Freedom Income $200 $– 
Advisor Freedom 2005 231 – 
Advisor Freedom 2010 86 – 
Class C  96 
Advisor Freedom 2015 46 – 
Class C  715 
Advisor Freedom 2020 12 – 
Class C  691 
Advisor Freedom 2025 – 
Class C  90 
Advisor Freedom 2030 22 – 
Class C  170 
Advisor Freedom 2035 22 – 
Advisor Freedom 2040 27 – 
Class C  274 
Advisor Freedom 2045 28 – 
Advisor Freedom 2050 24 – 
Advisor Freedom 2055 85 – 
Advisor Freedom 2060 215 – 

8. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

 Year ended
March 31, 2020 
Year ended
March 31, 2019 (a) 
Advisor Freedom Income   
Distributions to shareholders   
Class A $2,423,973 $3,719,592 
Class M 1,282,366 1,910,164 
Class C 224,542 554,170 
Class I 3,187,584 4,702,881 
Class Z 83,117 24,313 
Class Z6 919,934 956,416 
Total $8,121,516 $11,867,536 
Advisor Freedom 2005   
Distributions to shareholders   
Class A $3,926,643 $7,049,550 
Class M 1,036,707 1,813,526 
Class C 72,965 357,920 
Class I 2,453,070 4,121,296 
Class Z 95,869 5,414 
Class Z6 106,803 137,016 
Total $7,692,057 $13,484,722 
Advisor Freedom 2010   
Distributions to shareholders   
Class A $10,723,120 $16,675,337 
Class M 3,931,541 5,904,302 
Class C 507,619 1,674,171 
Class I 7,362,100 11,374,349 
Class Z 279,212 12,443 
Class Z6 523,761 500,401 
Total $23,327,353 $36,141,003 
Advisor Freedom 2015   
Distributions to shareholders   
Class A $30,206,562 $46,432,815 
Class M 9,667,183 14,273,744 
Class C 1,619,054 4,341,088 
Class I 19,784,592 29,585,610 
Class Z 950,751 51,261 
Class Z6 1,242,355 1,405,712 
Total $63,470,497 $96,090,230 
Advisor Freedom 2020   
Distributions to shareholders   
Class A $66,525,410 $92,940,211 
Class M 21,770,194 29,603,011 
Class C 3,483,167 7,197,787 
Class I 53,090,515 69,167,552 
Class Z 1,673,674 47,484 
Class Z6 3,930,457 3,450,889 
Total $150,473,417 $202,406,934 
Advisor Freedom 2025   
Distributions to shareholders   
Class A $83,960,534 $113,159,727 
Class M 26,603,535 34,967,109 
Class C 3,684,828 6,974,801 
Class I 70,900,166 87,942,916 
Class Z 1,699,890 22,710 
Class Z6 4,819,160 3,651,730 
Total $191,668,113 $246,718,993 
Advisor Freedom 2030   
Distributions to shareholders   
Class A $87,803,333 $120,850,924 
Class M 31,097,792 40,810,071 
Class C 4,193,696 8,147,415 
Class I 80,313,250 100,237,223 
Class Z 1,759,031 24,278 
Class Z6 5,491,649 4,483,474 
Total $210,658,751 $274,553,385 
Advisor Freedom 2035   
Distributions to shareholders   
Class A $75,561,562 $103,682,962 
Class M 26,999,735 35,751,347 
Class C 3,076,003 5,966,150 
Class I 70,940,899 88,150,440 
Class Z 1,304,695 16,723 
Class Z6 4,306,379 3,581,408 
Total $182,189,273 $237,149,030 
Advisor Freedom 2040   
Distributions to shareholders   
Class A $65,818,691 $90,574,926 
Class M 24,948,228 34,055,844 
Class C 3,509,869 7,700,684 
Class I 61,089,389 79,158,942 
Class Z 789,261 42,878 
Class Z6 3,850,649 3,134,461 
Total $160,006,087 $214,667,735 
Advisor Freedom 2045   
Distributions to shareholders   
Class A $38,958,921 $53,425,416 
Class M 14,899,798 19,988,683 
Class C 1,718,304 2,861,435 
Class I 43,814,200 54,655,664 
Class Z 640,990 23,397 
Class Z6 2,838,378 2,388,347 
Total $102,870,591 $133,342,942 
Advisor Freedom 2050   
Distributions to shareholders   
Class A $29,698,088 $38,880,173 
Class M 11,795,835 15,954,954 
Class C 1,660,794 2,996,255 
Class I 36,991,678 46,138,730 
Class Z 361,923 18,714 
Class Z6 1,930,737 1,637,690 
Total $82,439,055 $105,626,516 
Advisor Freedom 2055   
Distributions to shareholders   
Class A $14,501,911 $16,991,913 
Class M 5,537,976 6,421,567 
Class C 686,009 910,713 
Class I 22,820,123 24,818,868 
Class Z 182,309 11,382 
Class Z6 1,125,155 787,119 
Total $44,853,483 $49,941,562 
Advisor Freedom 2060   
Distributions to shareholders   
Class A $3,975,561 $3,183,825 
Class M 1,289,398 1,092,888 
Class C 231,466 216,286 
Class I 5,368,074 4,135,890 
Class Z 48,289 6,659 
Class Z6 251,539 145,560 
Total $11,164,327 $8,781,108 
Advisor Freedom 2065(b)   
Distributions to shareholders   
Class A $16,986 $– 
Class M 3,436 – 
Class C 2,276 – 
Class I 23,019 – 
Class Z 3,116 – 
Class Z6 5,332 – 
Total $54,165 $– 

 (a) Distributions for Class Z are for the period October 2, 2018 (commencement of sale of shares) to March 31, 2019.

 (b) 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, 2020 Year ended March 31, 2019(a) Year ended March 31, 2020 Year ended March 31, 2019 (a) 
Advisor Freedom Income     
Class A     
Shares sold 1,474,305 1,932,113 $16,054,996 $20,788,935 
Reinvestment of distributions 217,652 346,490 2,374,345 3,653,146 
Shares redeemed (2,296,205) (2,702,121) (24,989,979) (29,102,868) 
Net increase (decrease) (604,248) (423,518) $(6,560,638) $(4,660,787) 
Class M     
Shares sold 1,045,095 1,307,353 $11,406,267 $13,973,167 
Reinvestment of distributions 115,197 178,770 1,255,169 1,881,149 
Shares redeemed (1,255,464) (1,417,023) (13,615,186) (15,158,255) 
Net increase (decrease) (95,172) 69,100 $(953,750) $696,061 
Class C     
Shares sold 148,130 138,607 $1,625,978 $1,478,943 
Reinvestment of distributions 19,450 50,236 211,662 527,327 
Shares redeemed (242,456) (607,897) (2,631,225) (6,510,741) 
Net increase (decrease) (74,876) (419,054) $(793,585) $(4,504,471) 
Class I     
Shares sold 2,861,021 2,858,444 $31,331,217 $30,911,890 
Reinvestment of distributions 285,448 439,528 3,126,751 4,646,792 
Shares redeemed (2,935,596) (3,187,993) (31,912,962) (34,275,486) 
Net increase (decrease) 210,873 109,979 $2,545,006 $1,283,196 
Class Z     
Shares sold 349,390 81,771 $3,804,519 $875,601 
Reinvestment of distributions 7,553 2,344 83,116 24,280 
Shares redeemed (130,745) (13,184) (1,438,486) (140,510) 
Net increase (decrease) 226,198 70,931 $2,449,149 $759,371 
Class Z6     
Shares sold 213,312 2,433,234 $2,437,545 $26,352,197 
Reinvestment of distributions 59,710 91,446 663,526 956,416 
Shares redeemed (575,524) (356,549) (6,297,794) (3,824,909) 
Net increase (decrease) (302,502) 2,168,131 $(3,196,723) $23,483,704 
Advisor Freedom 2005     
Class A     
Shares sold 2,126,648 1,475,181 $24,477,847 $16,997,499 
Reinvestment of distributions 333,117 618,999 3,811,456 6,866,741 
Shares redeemed (3,285,468) (2,961,826) (37,868,950) (34,157,876) 
Net increase (decrease) (825,703) (867,646) $(9,579,647) $(10,293,636) 
Class M     
Shares sold 675,503 412,017 $7,757,805 $4,683,960 
Reinvestment of distributions 90,492 163,481 1,035,277 1,809,977 
Shares redeemed (818,053) (609,077) (9,258,163) (6,974,256) 
Net increase (decrease) (52,058) (33,579) $(465,081) $(480,319) 
Class C     
Shares sold 27,850 30,697 $321,622 $351,080 
Reinvestment of distributions 5,945 31,426 68,180 349,478 
Shares redeemed (85,228) (352,196) (967,289) (3,967,909) 
Net increase (decrease) (51,433) (290,073) $(577,487) $(3,267,351) 
Class I     
Shares sold 1,895,410 1,492,131 $21,602,810 $17,428,926 
Reinvestment of distributions 212,052 367,693 2,447,375 4,111,616 
Shares redeemed (2,098,573) (2,525,114) (24,092,280) (29,193,012) 
Net increase (decrease) 8,889 (665,290) $(42,095) $(7,652,470) 
Class Z     
Shares sold 330,618 10,528 $3,792,311 $123,421 
Reinvestment of distributions 8,317 501 95,869 5,414 
Shares redeemed (87,924) – (996,354) – 
Net increase (decrease) 251,011 11,029 $2,891,826 $128,835 
Class Z6     
Shares sold 215,744 74,161 $2,504,485 $859,219 
Reinvestment of distributions 9,274 12,363 106,802 137,016 
Shares redeemed (143,631) (41,986) (1,615,249) (485,635) 
Net increase (decrease) 81,387 44,538 $996,038 $510,600 
Advisor Freedom 2010     
Class A     
Shares sold 2,653,509 2,690,577 $31,374,639 $31,929,407 
Reinvestment of distributions 895,022 1,436,145 10,562,784 16,485,373 
Shares redeemed (5,564,975) (5,824,809) (65,684,572) (69,776,556) 
Net increase (decrease) (2,016,444) (1,698,087) $(23,747,149) $(21,361,776) 
Class M     
Shares sold 1,039,036 1,145,538 $12,253,878 $13,545,715 
Reinvestment of distributions 333,353 515,771 3,920,662 5,885,548 
Shares redeemed (1,555,210) (1,777,323) (18,091,595) (21,042,403) 
Net increase (decrease) (182,821) (116,014) $(1,917,055) $(1,611,140) 
Class C     
Shares sold 104,548 68,555 $1,225,693 $803,764 
Reinvestment of distributions 42,133 144,087 493,186 1,644,281 
Shares redeemed (301,798) (1,423,730) (3,480,292) (16,650,264) 
Net increase (decrease) (155,117) (1,211,088) $(1,761,413) $(14,202,219) 
Class I     
Shares sold 2,389,125 2,366,556 $28,347,243 $28,480,238 
Reinvestment of distributions 606,022 970,317 7,181,497 11,136,673 
Shares redeemed (4,367,927) (3,168,660) (51,980,482) (37,874,643) 
Net increase (decrease) (1,372,780) 168,213 $(16,451,742) $1,742,268 
Class Z     
Shares sold 555,656 21,020 $6,535,070 $252,219 
Reinvestment of distributions 23,193 800 275,209 8,827 
Shares redeemed (62,574) – (732,555) – 
Net increase (decrease) 516,275 21,820 $6,077,724 $261,046 
Class Z6     
Shares sold 391,370 319,785 $4,701,985 $3,838,728 
Reinvestment of distributions 44,154 43,970 523,761 500,401 
Shares redeemed (231,568) (188,166) (2,750,758) (2,255,829) 
Net increase (decrease) 203,956 175,589 $2,474,988 $2,083,300 
Advisor Freedom 2015     
Class A     
Shares sold 4,402,418 5,818,830 $52,165,534 $69,623,803 
Reinvestment of distributions 2,543,008 4,011,128 29,945,413 46,053,900 
Shares redeemed (13,727,846) (13,197,358) (161,245,372) (158,962,664) 
Net increase (decrease) (6,782,420) (3,367,400) $(79,134,425) $(43,284,961) 
Class M     
Shares sold 1,450,657 1,948,078 $17,063,991 $23,381,501 
Reinvestment of distributions 817,435 1,241,019 9,607,065 14,204,206 
Shares redeemed (3,610,651) (3,615,691) (42,260,524) (43,427,448) 
Net increase (decrease) (1,342,559) (426,594) $(15,589,468) $(5,841,741) 
Class C     
Shares sold 175,415 392,253 $2,043,567 $4,640,240 
Reinvestment of distributions 137,152 377,469 1,599,094 4,306,006 
Shares redeemed (1,092,284) (2,481,857) (12,767,811) (29,080,495) 
Net increase (decrease) (779,717) (1,712,135) $(9,125,150) $(20,134,249) 
Class I     
Shares sold 5,287,109 5,358,142 $62,997,820 $65,110,459 
Reinvestment of distributions 1,636,083 2,526,473 19,437,229 29,153,863 
Shares redeemed (10,477,798) (7,852,844) (124,546,232) (95,159,360) 
Net increase (decrease) (3,554,606) 31,771 $(42,111,183) $(895,038) 
Class Z     
Shares sold 1,597,817 131,064 $18,810,995 $1,551,650 
Reinvestment of distributions 75,903 2,691 904,608 29,547 
Shares redeemed (299,339) (5,295) (3,522,651) (61,244) 
Net increase (decrease) 1,374,381 128,460 $16,192,952 $1,519,953 
Class Z6     
Shares sold 683,392 645,794 $8,108,663 $7,810,668 
Reinvestment of distributions 102,968 120,773 1,220,747 1,385,371 
Shares redeemed (750,829) (391,082) (8,868,598) (4,772,522) 
Net increase (decrease) 35,531 375,485 $460,812 $4,423,517 
Advisor Freedom 2020     
Class A     
Shares sold 12,498,182 14,374,598 $162,411,933 $188,194,286 
Reinvestment of distributions 5,079,983 7,326,361 65,809,040 92,026,831 
Shares redeemed (28,851,632) (28,842,898) (371,420,567) (379,068,425) 
Net increase (decrease) (11,273,467) (7,141,939) $(143,199,594) $(98,847,308) 
Class M     
Shares sold 4,286,801 4,760,483 $55,583,047 $62,516,929 
Reinvestment of distributions 1,671,581 2,344,315 21,651,546 29,405,054 
Shares redeemed (8,770,608) (7,737,157) (112,935,739) (101,425,179) 
Net increase (decrease) (2,812,226) (632,359) $(35,701,146) $(9,503,196) 
Class C     
Shares sold 552,093 811,582 $7,120,558 $10,584,311 
Reinvestment of distributions 265,912 567,909 3,410,332 7,092,063 
Shares redeemed (1,684,099) (3,742,948) (21,619,753) (48,138,778) 
Net increase (decrease) (866,094) (2,363,457) $(11,088,863) $(30,462,404) 
Class I     
Shares sold 15,187,982 16,111,430 $198,644,077 $213,422,542 
Reinvestment of distributions 3,997,350 5,400,494 52,236,295 68,110,509 
Shares redeemed (24,252,070) (18,792,750) (315,446,604) (248,342,793) 
Net increase (decrease) (5,066,738) 2,719,174 $(64,566,232) $33,190,258 
Class Z     
Shares sold 2,921,609 201,565 $38,182,521 $2,595,947 
Reinvestment of distributions 124,275 1,318 1,629,425 15,774 
Shares redeemed (397,746) (4,370) (5,086,628) (54,839) 
Net increase (decrease) 2,648,138 198,513 $34,725,318 $2,556,882 
Class Z6     
Shares sold 2,133,469 2,070,697 $27,982,829 $27,540,182 
Reinvestment of distributions 298,986 272,668 3,907,905 3,417,063 
Shares redeemed (1,017,958) (949,502) (13,058,618) (12,545,730) 
Net increase (decrease) 1,414,497 1,393,863 $18,832,116 $18,411,515 
Advisor Freedom 2025     
Class A     
Shares sold 17,315,893 18,576,216 $225,669,707 $243,899,864 
Reinvestment of distributions 6,441,432 8,991,273 83,564,674 112,666,699 
Shares redeemed (33,768,087) (31,708,950) (434,599,449) (417,958,164) 
Net increase (decrease) (10,010,762) (4,141,461) $(125,365,068) $(61,391,601) 
Class M     
Shares sold 5,595,595 6,367,361 $72,849,182 $83,840,691 
Reinvestment of distributions 2,029,720 2,765,989 26,386,492 34,652,392 
Shares redeemed (8,866,357) (7,990,398) (115,146,507) (105,125,123) 
Net increase (decrease) (1,241,042) 1,142,952 $(15,910,833) $13,367,960 
Class C     
Shares sold 782,061 751,967 $9,966,650 $9,756,669 
Reinvestment of distributions 284,019 554,184 3,620,205 6,878,431 
Shares redeemed (1,578,414) (3,466,811) (19,998,108) (44,462,125) 
Net increase (decrease) (512,334) (2,160,660) $(6,411,253) $(27,827,025) 
Class I     
Shares sold 23,304,850 21,160,572 $306,164,622 $281,515,024 
Reinvestment of distributions 5,301,356 6,845,479 69,500,571 86,240,671 
Shares redeemed (30,671,243) (21,285,533) (400,738,293) (283,862,119) 
Net increase (decrease) (2,065,037) 6,720,518 $(25,073,100) $83,893,576 
Class Z     
Shares sold 3,394,075 267,841 $44,603,333 $3,462,110 
Reinvestment of distributions 128,889 1,558 1,697,164 18,554 
Shares redeemed (620,071) (9,247) (7,982,193) (120,151) 
Net increase (decrease) 2,902,893 260,152 $38,318,304 $3,360,513 
Class Z6     
Shares sold 3,497,762 3,145,643 $46,291,426 $41,844,748 
Reinvestment of distributions 376,735 292,525 4,935,899 3,639,110 
Shares redeemed (1,482,373) (948,177) (19,297,811) (12,605,127) 
Net increase (decrease) 2,392,124 2,489,991 $31,929,514 $32,878,731 
Advisor Freedom 2030     
Class A     
Shares sold 16,206,403 17,980,070 $226,539,374 $255,271,834 
Reinvestment of distributions 6,265,438 8,905,505 87,212,669 120,053,170 
Shares redeemed (28,547,452) (27,387,212) (393,579,788) (390,712,550) 
Net increase (decrease) (6,075,611) (501,637) $(79,827,745) $(15,387,546) 
Class M     
Shares sold 6,485,892 6,524,933 $90,170,952 $92,422,241 
Reinvestment of distributions 2,224,684 3,014,113 30,795,975 40,374,345 
Shares redeemed (9,040,278) (7,375,731) (124,863,441) (104,478,572) 
Net increase (decrease) (329,702) 2,163,315 $(3,896,514) $28,318,014 
Class C     
Shares sold 808,317 961,504 $11,113,474 $13,418,893 
Reinvestment of distributions 303,489 606,734 4,134,298 8,059,733 
Shares redeemed (1,298,218) (3,271,986) (17,796,138) (45,021,964) 
Net increase (decrease) (186,412) (1,703,748) $(2,548,366) $(23,543,338) 
Class I     
Shares sold 22,989,540 22,457,609 $322,959,549 $320,953,527 
Reinvestment of distributions 5,564,283 7,225,475 78,045,729 97,542,752 
Shares redeemed (27,132,171) (20,355,587) (380,597,580) (292,815,292) 
Net increase (decrease) 1,421,652 9,327,497 $20,407,698 $125,680,987 
Class Z     
Shares sold 3,216,856 221,132 $44,863,622 $3,080,674 
Reinvestment of distributions 124,056 1,735 1,756,540 21,946 
Shares redeemed (433,722) (12,776) (6,132,293) (178,243) 
Net increase (decrease) 2,907,190 210,091 $40,487,869 $2,924,377 
Class Z6     
Shares sold 3,290,469 2,749,987 $46,464,736 $39,767,415 
Reinvestment of distributions 391,952 336,470 5,510,782 4,480,080 
Shares redeemed (1,151,322) (569,263) (16,177,112) (8,126,381) 
Net increase (decrease) 2,531,099 2,517,194 $35,798,406 $36,121,114 
Advisor Freedom 2035     
Class A     
Shares sold 14,424,285 15,577,255 $194,409,564 $215,880,275 
Reinvestment of distributions 5,596,454 7,931,975 75,230,574 103,250,766 
Shares redeemed (23,625,076) (21,845,142) (313,294,772) (304,538,618) 
Net increase (decrease) (3,604,337) 1,664,088 $(43,654,634) $14,592,423 
Class M     
Shares sold 5,593,464 6,158,292 $74,655,471 $84,742,679 
Reinvestment of distributions 2,020,285 2,758,614 26,865,170 35,538,297 
Shares redeemed (7,432,819) (6,770,016) (98,813,575) (92,881,274) 
Net increase (decrease) 180,930 2,146,890 $2,707,066 $27,399,702 
Class C     
Shares sold 606,636 661,692 $7,886,217 $8,898,073 
Reinvestment of distributions 232,876 462,267 3,028,444 5,899,592 
Shares redeemed (801,700) (2,352,914) (10,409,900) (31,185,700) 
Net increase (decrease) 37,812 (1,228,955) $504,761 $(16,388,035) 
Class I     
Shares sold 21,186,294 19,561,819 $286,873,574 $274,193,535 
Reinvestment of distributions 5,048,332 6,540,915 68,566,941 85,477,034 
Shares redeemed (22,548,007) (18,631,854) (306,098,532) (262,614,157) 
Net increase (decrease) 3,686,619 7,470,880 $49,341,983 $97,056,412 
Class Z     
Shares sold 2,554,133 206,821 $34,771,823 $2,804,466 
Reinvestment of distributions 94,727 1,049 1,301,007 12,715 
Shares redeemed (417,420) (845) (5,727,643) (10,694) 
Net increase (decrease) 2,231,440 207,025 $30,345,187 $2,806,487 
Class Z6     
Shares sold 3,053,093 2,477,161 $41,768,708 $35,081,126 
Reinvestment of distributions 323,069 279,162 4,397,759 3,580,829 
Shares redeemed (1,162,043) (509,353) (15,719,663) (7,047,594) 
Net increase (decrease) 2,214,119 2,246,970 $30,446,804 $31,614,361 
Advisor Freedom 2040     
Class A     
Shares sold 11,840,045 13,508,451 $170,207,574 $199,404,291 
Reinvestment of distributions 4,564,793 6,486,862 65,435,695 90,120,681 
Shares redeemed (19,121,121) (17,392,234) (270,072,619) (259,736,681) 
Net increase (decrease) (2,716,283) 2,603,079 $(34,429,350) $29,788,291 
Class M     
Shares sold 4,528,005 5,365,211 $64,920,774 $79,122,210 
Reinvestment of distributions 1,738,651 2,447,376 24,738,913 33,775,381 
Shares redeemed (7,082,606) (5,123,803) (101,386,761) (76,072,511) 
Net increase (decrease) (815,950) 2,688,784 $(11,727,074) $36,825,080 
Class C     
Shares sold 466,099 593,503 $6,525,727 $8,629,433 
Reinvestment of distributions 251,909 563,167 3,492,400 7,669,773 
Shares redeemed (1,003,555) (2,861,996) (14,109,320) (40,626,069) 
Net increase (decrease) (285,547) (1,705,326) $(4,091,193) $(24,326,863) 
Class I     
Shares sold 17,756,004 16,023,155 $255,999,975 $239,554,969 
Reinvestment of distributions 4,093,941 5,518,800 59,230,605 76,957,491 
Shares redeemed (18,933,830) (16,596,129) (274,181,249) (249,372,401) 
Net increase (decrease) 2,916,115 4,945,826 $41,049,331 $67,140,059 
Class Z     
Shares sold 1,724,653 114,448 $24,792,851 $1,663,715 
Reinvestment of distributions 52,962 2,846 781,656 36,681 
Shares redeemed (224,624) (14,163) (3,265,403) (199,531) 
Net increase (decrease) 1,552,991 103,131 $22,309,104 $1,500,865 
Class Z6     
Shares sold 2,387,707 2,108,972 $34,943,439 $32,016,553 
Reinvestment of distributions 269,193 228,914 3,906,074 3,132,498 
Shares redeemed (755,102) (277,137) (10,869,881) (4,156,159) 
Net increase (decrease) 1,901,798 2,060,749 $27,979,632 $30,992,892 
Advisor Freedom 2045     
Class A     
Shares sold 12,576,422 12,635,987 $141,507,919 $146,031,787 
Reinvestment of distributions 3,477,587 4,937,864 38,917,915 53,389,530 
Shares redeemed (15,971,998) (15,619,333) (177,041,754) (181,788,398) 
Net increase (decrease) 82,011 1,954,518 $3,384,080 $17,632,919 
Class M     
Shares sold 4,672,530 4,970,917 $51,891,372 $56,988,809 
Reinvestment of distributions 1,342,659 1,860,679 14,870,122 19,919,722 
Shares redeemed (5,380,024) (5,181,765) (59,627,514) (59,325,065) 
Net increase (decrease) 635,165 1,649,831 $7,133,980 $17,583,466 
Class C     
Shares sold 458,819 458,481 $5,033,171 $5,224,727 
Reinvestment of distributions 157,375 268,698 1,711,388 2,852,475 
Shares redeemed (485,675) (984,683) (5,287,165) (10,921,440) 
Net increase (decrease) 130,519 (257,504) $1,457,394 $(2,844,238) 
Class I     
Shares sold 20,017,077 16,922,941 $225,404,118 $197,386,314 
Reinvestment of distributions 3,724,249 4,868,513 42,082,532 52,766,313 
Shares redeemed (19,394,240) (15,394,337) (220,868,936) (179,991,531) 
Net increase (decrease) 4,347,086 6,397,117 $46,617,714 $70,161,096 
Class Z     
Shares sold 1,883,456 129,714 $21,330,846 $1,476,927 
Reinvestment of distributions 55,687 2,238 639,417 22,487 
Shares redeemed (279,216) (10,747) (3,168,961) (113,514) 
Net increase (decrease) 1,659,927 121,205 $18,801,302 $1,385,900 
Class Z6     
Shares sold 2,348,359 2,107,413 $26,795,871 $24,953,608 
Reinvestment of distributions 257,658 224,047 2,917,396 2,383,471 
Shares redeemed (647,308) (308,731) (7,218,547) (3,617,281) 
Net increase (decrease) 1,958,709 2,022,729 $22,494,720 $23,719,798 
Advisor Freedom 2050     
Class A     
Shares sold 11,553,682 11,521,746 $129,656,837 $132,970,720 
Reinvestment of distributions 2,653,369 3,597,274 29,642,295 38,813,519 
Shares redeemed (13,103,116) (12,570,491) (145,401,914) (146,649,559) 
Net increase (decrease) 1,103,935 2,548,529 $13,897,218 $25,134,680 
Class M     
Shares sold 4,348,376 4,564,698 $48,432,256 $52,383,074 
Reinvestment of distributions 1,061,461 1,479,768 11,762,431 15,848,909 
Shares redeemed (5,471,716) (4,414,543) (60,880,969) (50,603,396) 
Net increase (decrease) (61,879) 1,629,923 $(686,282) $17,628,587 
Class C     
Shares sold 431,780 475,264 $4,743,004 $5,411,651 
Reinvestment of distributions 151,640 281,386 1,653,252 2,991,669 
Shares redeemed (611,711) (1,136,298) (6,684,997) (12,643,583) 
Net increase (decrease) (28,291) (379,648) $(288,741) $(4,240,263) 
Class I     
Shares sold 17,804,353 15,773,850 $200,570,042 $183,903,268 
Reinvestment of distributions 3,151,534 4,125,443 35,564,424 44,635,052 
Shares redeemed (17,873,584) (15,152,813) (204,260,577) (176,066,479) 
Net increase (decrease) 3,082,303 4,746,480 $31,873,889 $52,471,841 
Class Z     
Shares sold 1,300,654 55,866 $14,723,895 $642,437 
Reinvestment of distributions 31,303 1,864 361,863 18,714 
Shares redeemed (179,414) (378) (2,046,070) (4,188) 
Net increase (decrease) 1,152,543 57,352 $13,039,688 $656,963 
Class Z6     
Shares sold 2,118,577 1,578,089 $24,102,651 $18,585,296 
Reinvestment of distributions 178,369 154,167 2,013,088 1,636,405 
Shares redeemed (651,542) (249,597) (7,273,624) (2,887,741) 
Net increase (decrease) 1,645,404 1,482,659 $18,842,115 $17,333,960 
Advisor Freedom 2055     
Class A     
Shares sold 7,425,778 7,405,861 $93,033,169 $94,792,637 
Reinvestment of distributions 1,162,536 1,417,723 14,475,535 16,974,227 
Shares redeemed (6,849,196) (7,631,599) (85,650,199) (98,796,720) 
Net increase (decrease) 1,739,118 1,191,985 $21,858,505 $12,970,144 
Class M     
Shares sold 2,558,602 2,614,120 $31,817,231 $33,190,301 
Reinvestment of distributions 447,013 538,926 5,524,763 6,411,358 
Shares redeemed (2,546,903) (1,939,650) (31,732,087) (24,671,431) 
Net increase (decrease) 458,712 1,213,396 $5,609,907 $14,930,228 
Class C     
Shares sold 219,568 271,244 $2,704,771 $3,412,171 
Reinvestment of distributions 56,069 76,657 686,005 910,546 
Shares redeemed (202,713) (270,006) (2,497,024) (3,363,512) 
Net increase (decrease) 72,924 77,895 $893,752 $959,205 
Class I     
Shares sold 12,405,149 12,655,914 $155,504,060 $163,216,802 
Reinvestment of distributions 1,715,370 1,969,656 21,518,680 23,537,468 
Shares redeemed (12,690,451) (8,801,212) (163,071,693) (111,998,695) 
Net increase (decrease) 1,430,068 5,824,358 $13,951,047 $74,755,575 
Class Z     
Shares sold 627,717 35,699 $7,952,014 $454,001 
Reinvestment of distributions 14,240 1,022 182,308 11,382 
Shares redeemed (126,620) (2,703) (1,539,918) (33,886) 
Net increase (decrease) 515,337 34,018 $6,594,404 $431,497 
Class Z6     
Shares sold 1,491,393 861,230 $18,936,714 $11,149,348 
Reinvestment of distributions 92,350 67,158 1,160,720 786,682 
Shares redeemed (345,849) (133,007) (4,393,860) (1,709,322) 
Net increase (decrease) 1,237,894 795,381 $15,703,574 $10,226,708 
Advisor Freedom 2060     
Class A     
Shares sold 4,341,099 3,282,040 $48,600,678 $37,368,210 
Reinvestment of distributions 351,563 299,518 3,973,334 3,182,787 
Shares redeemed (2,688,980) (1,847,915) (30,043,199) (21,083,392) 
Net increase (decrease) 2,003,682 1,733,643 $22,530,813 $19,467,605 
Class M     
Shares sold 1,320,400 1,171,715 $14,892,485 $13,350,367 
Reinvestment of distributions 114,393 102,745 1,289,398 1,092,888 
Shares redeemed (835,109) (651,352) (9,421,193) (7,395,540) 
Net increase (decrease) 599,684 623,108 $6,760,690 $7,047,715 
Class C     
Shares sold 154,032 200,839 $1,725,988 $2,286,734 
Reinvestment of distributions 20,633 20,307 231,410 216,263 
Shares redeemed (79,153) (110,667) (893,469) (1,249,222) 
Net increase (decrease) 95,512 110,479 $1,063,929 $1,253,775 
Class I     
Shares sold 6,260,268 4,677,855 $70,805,650 $53,503,953 
Reinvestment of distributions 440,804 369,553 5,023,075 3,936,080 
Shares redeemed (3,584,371) (2,677,596) (41,078,932) (30,477,647) 
Net increase (decrease) 3,116,701 2,369,812 $34,749,793 $26,962,386 
Class Z     
Shares sold 184,538 24,691 $2,099,627 $283,518 
Reinvestment of distributions 4,169 665 48,196 6,659 
Shares redeemed (54,214) (297) (614,581) (3,251) 
Net increase (decrease) 134,493 25,059 $1,533,242 $286,926 
Class Z6     
Shares sold 573,547 222,835 $6,528,282 $2,572,083 
Reinvestment of distributions 22,373 13,174 256,501 139,481 
Shares redeemed (136,889) (83,912) (1,535,551) (973,912) 
Net increase (decrease) 459,031 152,097 $5,249,232 $1,737,652 
Advisor Freedom 2065(b)     
Class A     
Shares sold 270,091 – $2,643,573 $– 
Reinvestment of distributions 1,593 – 16,986 – 
Shares redeemed (37,938) – (368,426) – 
Net increase (decrease) 233,746 – $2,292,133 $– 
Class M     
Shares sold 40,888 – $400,716 $– 
Reinvestment of distributions 322 – 3,436 – 
Shares redeemed (1,983) – (18,273) – 
Net increase (decrease) 39,227 – $385,879 $– 
Class C     
Shares sold 21,460 – $213,694 $– 
Reinvestment of distributions 213 – 2,276 – 
Shares redeemed (1) – (15) – 
Net increase (decrease) 21,672 – $215,955 $– 
Class I     
Shares sold 311,028 – $3,116,572 $– 
Reinvestment of distributions 2,157 – 23,019 – 
Shares redeemed (32,218) – (335,104) – 
Net increase (decrease) 280,967 – $2,804,487 $– 
Class Z     
Shares sold 20,936 – $207,081 $– 
Reinvestment of distributions 292 – 3,116 – 
Shares redeemed (498) – (4,717) – 
Net increase (decrease) 20,730 – $205,480 $– 
Class Z6     
Shares sold 106,399 – $1,110,643 $– 
Reinvestment of distributions 499 – 5,331 – 
Shares redeemed (419) – (4,427) – 
Net increase (decrease) 106,479 – $1,111,547 $– 

 (a) Share transactions for Class Z are for the period October 2, 2018 (commencement of sale of shares) to March 31, 2019.

 (b) 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 the Underlying 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 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 Underlying Funds.

Fund Fidelity Advisor Freedom 2025 Fund Fidelity Advisor Freedom 2030 Fund Fidelity Advisor Freedom 2035 Fund Fidelity Advisor Freedom 2040 Fund 
Fidelity Advisor Series Equity Growth Fund 11% 14% 15% 15% 
Fidelity Advisor Series Growth Opportunities Fund 11% 14% 15% 15% 
Fidelity Advisor Series Small Cap Fund 11% 14% 15% 15% 

The Funds, in aggregate, were the owners of record of more than 20% of the total outstanding shares of the following Underlying 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  89% 

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 Fund:

 Affiliated % 

Fidelity Advisor Freedom 2065 Fund  14% 

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 schedule of investments, as of March 31, 2020, 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 Fidelity Advisor Freedom 2065 Fund; the related statement of operations, the statement of changes in net assets, and the financial highlights for the period from June 28, 2019 (commencement of operations) to March 31, 2020 for the Fidelity Advisor Freedom 2065 Fund; and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial positions of the Funds as of March 31, 2020, 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 audits 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, 2020, 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, 2020


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 279 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. 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 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 Executive Vice President and Chief Investment Officer of Bank of America Corporation. Earlier roles at Bank of America included Director of Research, Senior Portfolio Manager for various institutional equity accounts and mutual funds and Portfolio Manager for a number of institutional fixed-income clients. Mr. Kenneally 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. Mr. Murray currently serves as Vice Chairman of Meijer, Inc. (regional retail chain, 2013-present). Previously, Mr. Murray served as Co-Chief Executive Officer (2013-2016) and President (2006-2013) of Meijer, Inc. Mr. Murray serves as a member of the Board and Nuclear Review and Public Policy and Responsibility Committees of DTE Energy Company (diversified energy company, 2009-present) and 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 previously served as a member of the Board of Spectrum Health (not-for-profit health system, 2015-2019). 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

Elizabeth Paige Baumann (1968)

Year of Election or Appointment: 2017

Anti-Money Laundering (AML) Officer

Ms. Baumann also serves as AML Officer of other funds. She is Chief AML Officer (2012-present) and Senior Vice President (2014-present) of FMR LLC (diversified financial services company) and is an employee of Fidelity Investments. Previously, Ms. Baumann served as AML Officer of certain funds (2017-2019), as AML Officer of the funds (2012-2016), and Vice President (2007-2014) and Deputy Anti-Money Laundering Officer (2007-2012) of FMR LLC.

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).

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). 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).

John B. McGinty, Jr. (1962)

Year of Election or Appointment: 2016

Chief Compliance Officer

Mr. McGinty also serves as Chief Compliance Officer of other funds. Mr. McGinty is Senior Vice President of Asset Management Compliance for Fidelity Investments and is an employee of Fidelity Investments (2016-present). Previously, Mr. McGinty served as Chief Compliance Officer of The North Carolina Capital Management Trust: Cash Portfolio and Term Portfolio (2019). Prior to joining Fidelity Investments, Mr. McGinty served as Vice President, Senior Attorney at Eaton Vance Management (investment management firm, 2015-2016), and prior to Eaton Vance as global CCO for all firm operations and registered investment companies at GMO LLC (investment management firm, 2009-2015). Before joining GMO LLC, Mr. McGinty served as Senior Vice President, Deputy General Counsel for Fidelity Investments (2007-2009).

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2015

Assistant Secretary

Mr. Pogorelec also serves as Assistant Secretary of other funds. Mr. Pogorelec serves as Vice President, Associate General Counsel (2010-present) and is an employee of Fidelity Investments (2006-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 and Chief Investment Officer of Global Asset Allocation and is an employee of Fidelity Investments (2018-present). 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, 2013-2018).

Shareholder Expense Example

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, and (2) ongoing costs, including 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 the Funds 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, 2019 to March 31, 2020).

Actual Expenses

The first line of the accompanying table for each Class of each fund 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 of the fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. In addition, each Fund, as a shareholder in underlying Fidelity Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Funds. These fees and expenses are not included in each Fund's annualized expense ratio used to calculate the expense estimates in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each Class of each fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' 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. In addition, each Fund, as a shareholder in underlying Fidelity Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Funds. These fees and expenses are not included in each Fund's annualized expense ratio used to calculate the expense estimates 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, 2019 
Ending
Account Value
March 31, 2020 
Expenses Paid
During Period-B
October 1, 2019
to March 31, 2020 
Advisor Freedom Income     
Class A .72%    
Actual  $1,000.00 $973.70 $3.55 
Hypothetical-C  $1,000.00 $1,021.40 $3.64 
Class M .97%    
Actual  $1,000.00 $972.40 $4.78 
Hypothetical-C  $1,000.00 $1,020.15 $4.90 
Class C 1.47%    
Actual  $1,000.00 $970.40 $7.24 
Hypothetical-C  $1,000.00 $1,017.65 $7.41 
Class I .47%    
Actual  $1,000.00 $974.10 $2.32 
Hypothetical-C  $1,000.00 $1,022.65 $2.38 
Class Z .42%    
Actual  $1,000.00 $975.20 $2.07 
Hypothetical-C  $1,000.00 $1,022.90 $2.12 
Class Z6 .37%    
Actual  $1,000.00 $975.30 $1.83 
Hypothetical-C  $1,000.00 $1,023.15 $1.87 
Advisor Freedom 2005     
Class A .72%    
Actual  $1,000.00 $965.00 $3.54 
Hypothetical-C  $1,000.00 $1,021.40 $3.64 
Class M .97%    
Actual  $1,000.00 $963.10 $4.76 
Hypothetical-C  $1,000.00 $1,020.15 $4.90 
Class C 1.48%    
Actual  $1,000.00 $960.50 $7.25 
Hypothetical-C  $1,000.00 $1,017.60 $7.47 
Class I .47%    
Actual  $1,000.00 $965.50 $2.31 
Hypothetical-C  $1,000.00 $1,022.65 $2.38 
Class Z .42%    
Actual  $1,000.00 $966.20 $2.06 
Hypothetical-C  $1,000.00 $1,022.90 $2.12 
Class Z6 .37%    
Actual  $1,000.00 $966.50 $1.82 
Hypothetical-C  $1,000.00 $1,023.15 $1.87 
Advisor Freedom 2010     
Class A .77%    
Actual  $1,000.00 $951.10 $3.76 
Hypothetical-C  $1,000.00 $1,021.15 $3.89 
Class M 1.02%    
Actual  $1,000.00 $950.10 $4.97 
Hypothetical-C  $1,000.00 $1,019.90 $5.15 
Class C 1.52%    
Actual  $1,000.00 $947.70 $7.40 
Hypothetical-C  $1,000.00 $1,017.40 $7.67 
Class I .52%    
Actual  $1,000.00 $952.40 $2.54 
Hypothetical-C  $1,000.00 $1,022.40 $2.63 
Class Z .46%    
Actual  $1,000.00 $951.90 $2.24 
Hypothetical-C  $1,000.00 $1,022.70 $2.33 
Class Z6 .39%    
Actual  $1,000.00 $953.10 $1.90 
Hypothetical-C  $1,000.00 $1,023.05 $1.97 
Advisor Freedom 2015     
Class A .81%    
Actual  $1,000.00 $936.60 $3.92 
Hypothetical-C  $1,000.00 $1,020.95 $4.09 
Class M 1.06%    
Actual  $1,000.00 $935.80 $5.13 
Hypothetical-C  $1,000.00 $1,019.70 $5.35 
Class C 1.56%    
Actual  $1,000.00 $934.10 $7.54 
Hypothetical-C  $1,000.00 $1,017.20 $7.87 
Class I .56%    
Actual  $1,000.00 $938.30 $2.71 
Hypothetical-C  $1,000.00 $1,022.20 $2.83 
Class Z .49%    
Actual  $1,000.00 $938.70 $2.37 
Hypothetical-C  $1,000.00 $1,022.55 $2.48 
Class Z6 .41%    
Actual  $1,000.00 $939.40 $1.99 
Hypothetical-C  $1,000.00 $1,022.95 $2.07 
Advisor Freedom 2020     
Class A .85%    
Actual  $1,000.00 $924.00 $4.09 
Hypothetical-C  $1,000.00 $1,020.75 $4.29 
Class M 1.10%    
Actual  $1,000.00 $923.00 $5.29 
Hypothetical-C  $1,000.00 $1,019.50 $5.55 
Class C 1.60%    
Actual  $1,000.00 $921.00 $7.68 
Hypothetical-C  $1,000.00 $1,017.00 $8.07 
Class I .60%    
Actual  $1,000.00 $925.10 $2.89 
Hypothetical-C  $1,000.00 $1,022.00 $3.03 
Class Z .53%    
Actual  $1,000.00 $925.40 $2.55 
Hypothetical-C  $1,000.00 $1,022.35 $2.68 
Class Z6 .43%    
Actual  $1,000.00 $926.50 $2.07 
Hypothetical-C  $1,000.00 $1,022.85 $2.17 
Advisor Freedom 2025     
Class A .90%    
Actual  $1,000.00 $914.60 $4.31 
Hypothetical-C  $1,000.00 $1,020.50 $4.55 
Class M 1.15%    
Actual  $1,000.00 $913.10 $5.50 
Hypothetical-C  $1,000.00 $1,019.25 $5.81 
Class C 1.65%    
Actual  $1,000.00 $910.40 $7.88 
Hypothetical-C  $1,000.00 $1,016.75 $8.32 
Class I .65%    
Actual  $1,000.00 $915.00 $3.11 
Hypothetical-C  $1,000.00 $1,021.75 $3.29 
Class Z .56%    
Actual  $1,000.00 $916.00 $2.68 
Hypothetical-C  $1,000.00 $1,022.20 $2.83 
Class Z6 .45%    
Actual  $1,000.00 $916.50 $2.16 
Hypothetical-C  $1,000.00 $1,022.75 $2.28 
Advisor Freedom 2030     
Class A .94%    
Actual  $1,000.00 $899.90 $4.46 
Hypothetical-C  $1,000.00 $1,020.30 $4.75 
Class M 1.19%    
Actual  $1,000.00 $898.60 $5.65 
Hypothetical-C  $1,000.00 $1,019.05 $6.01 
Class C 1.69%    
Actual  $1,000.00 $896.80 $8.01 
Hypothetical-C  $1,000.00 $1,016.55 $8.52 
Class I .69%    
Actual  $1,000.00 $901.10 $3.28 
Hypothetical-C  $1,000.00 $1,021.55 $3.49 
Class Z .60%    
Actual  $1,000.00 $901.20 $2.85 
Hypothetical-C  $1,000.00 $1,022.00 $3.03 
Class Z6 .47%    
Actual  $1,000.00 $902.00 $2.23 
Hypothetical-C  $1,000.00 $1,022.65 $2.38 
Advisor Freedom 2035     
Class A .98%    
Actual  $1,000.00 $877.10 $4.60 
Hypothetical-C  $1,000.00 $1,020.10 $4.95 
Class M 1.23%    
Actual  $1,000.00 $876.50 $5.77 
Hypothetical-C  $1,000.00 $1,018.85 $6.21 
Class C 1.73%    
Actual  $1,000.00 $874.00 $8.11 
Hypothetical-C  $1,000.00 $1,016.35 $8.72 
Class I .73%    
Actual  $1,000.00 $878.60 $3.43 
Hypothetical-C  $1,000.00 $1,021.35 $3.69 
Class Z .63%    
Actual  $1,000.00 $878.60 $2.96 
Hypothetical-C  $1,000.00 $1,021.85 $3.18 
Class Z6 .49%    
Actual  $1,000.00 $880.10 $2.30 
Hypothetical-C  $1,000.00 $1,022.55 $2.48 
Advisor Freedom 2040     
Class A 1.00%    
Actual  $1,000.00 $865.50 $4.66 
Hypothetical-C  $1,000.00 $1,020.00 $5.05 
Class M 1.25%    
Actual  $1,000.00 $864.50 $5.83 
Hypothetical-C  $1,000.00 $1,018.75 $6.31 
Class C 1.75%    
Actual  $1,000.00 $862.40 $8.15 
Hypothetical-C  $1,000.00 $1,016.25 $8.82 
Class I .75%    
Actual  $1,000.00 $866.80 $3.50 
Hypothetical-C  $1,000.00 $1,021.25 $3.79 
Class Z .65%    
Actual  $1,000.00 $867.60 $3.03 
Hypothetical-C  $1,000.00 $1,021.75 $3.29 
Class Z6 .50%    
Actual  $1,000.00 $867.80 $2.33 
Hypothetical-C  $1,000.00 $1,022.50 $2.53 
Advisor Freedom 2045     
Class A 1.00%    
Actual  $1,000.00 $865.00 $4.66 
Hypothetical-C  $1,000.00 $1,020.00 $5.05 
Class M 1.25%    
Actual  $1,000.00 $864.80 $5.83 
Hypothetical-C  $1,000.00 $1,018.75 $6.31 
Class C 1.75%    
Actual  $1,000.00 $862.40 $8.15 
Hypothetical-C  $1,000.00 $1,016.25 $8.82 
Class I .75%    
Actual  $1,000.00 $866.70 $3.50 
Hypothetical-C  $1,000.00 $1,021.25 $3.79 
Class Z .65%    
Actual  $1,000.00 $866.60 $3.03 
Hypothetical-C  $1,000.00 $1,021.75 $3.29 
Class Z6 .50%    
Actual  $1,000.00 $868.40 $2.34 
Hypothetical-C  $1,000.00 $1,022.50 $2.53 
Advisor Freedom 2050     
Class A 1.00%    
Actual  $1,000.00 $866.00 $4.67 
Hypothetical-C  $1,000.00 $1,020.00 $5.05 
Class M 1.25%    
Actual  $1,000.00 $864.40 $5.83 
Hypothetical-C  $1,000.00 $1,018.75 $6.31 
Class C 1.75%    
Actual  $1,000.00 $862.10 $8.15 
Hypothetical-C  $1,000.00 $1,016.25 $8.82 
Class I .75%    
Actual  $1,000.00 $867.00 $3.50 
Hypothetical-C  $1,000.00 $1,021.25 $3.79 
Class Z .65%    
Actual  $1,000.00 $867.10 $3.03 
Hypothetical-C  $1,000.00 $1,021.75 $3.29 
Class Z6 .49%    
Actual  $1,000.00 $869.40 $2.29 
Hypothetical-C  $1,000.00 $1,022.55 $2.48 
Advisor Freedom 2055     
Class A 1.00%    
Actual  $1,000.00 $866.20 $4.67 
Hypothetical-C  $1,000.00 $1,020.00 $5.05 
Class M 1.25%    
Actual  $1,000.00 $864.60 $5.83 
Hypothetical-C  $1,000.00 $1,018.75 $6.31 
Class C 1.75%    
Actual  $1,000.00 $862.30 $8.15 
Hypothetical-C  $1,000.00 $1,016.25 $8.82 
Class I .75%    
Actual  $1,000.00 $866.20 $3.50 
Hypothetical-C  $1,000.00 $1,021.25 $3.79 
Class Z .65%    
Actual  $1,000.00 $867.20 $3.03 
Hypothetical-C  $1,000.00 $1,021.75 $3.29 
Class Z6 .49%    
Actual  $1,000.00 $868.50 $2.29 
Hypothetical-C  $1,000.00 $1,022.55 $2.48 
Advisor Freedom 2060     
Class A 1.00%    
Actual  $1,000.00 $865.40 $4.66 
Hypothetical-C  $1,000.00 $1,020.00 $5.05 
Class M 1.25%    
Actual  $1,000.00 $863.80 $5.82 
Hypothetical-C  $1,000.00 $1,018.75 $6.31 
Class C 1.75%    
Actual  $1,000.00 $862.40 $8.15 
Hypothetical-C  $1,000.00 $1,016.25 $8.82 
Class I .75%    
Actual  $1,000.00 $866.90 $3.50 
Hypothetical-C  $1,000.00 $1,021.25 $3.79 
Class Z .65%    
Actual  $1,000.00 $866.90 $3.03 
Hypothetical-C  $1,000.00 $1,021.75 $3.29 
Class Z6 .50%    
Actual  $1,000.00 $867.80 $2.33 
Hypothetical-C  $1,000.00 $1,022.50 $2.53 
Advisor Freedom 2065     
Class A 1.01%    
Actual  $1,000.00 $865.20 $4.71 
Hypothetical-C  $1,000.00 $1,019.95 $5.10 
Class M 1.25%    
Actual  $1,000.00 $863.90 $5.82 
Hypothetical-C  $1,000.00 $1,018.75 $6.31 
Class C 1.75%    
Actual  $1,000.00 $862.30 $8.15 
Hypothetical-C  $1,000.00 $1,016.25 $8.82 
Class I .75%    
Actual  $1,000.00 $865.70 $3.50 
Hypothetical-C  $1,000.00 $1,021.25 $3.79 
Class Z .64%    
Actual  $1,000.00 $866.70 $2.99 
Hypothetical-C  $1,000.00 $1,021.80 $3.23 
Class Z6 .50%    
Actual  $1,000.00 $867.70 $2.33 
Hypothetical-C  $1,000.00 $1,022.50 $2.53 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/ 366 (to reflect the one-half year period). The fees and expenses of the underlying Fidelity Funds in which each Fund invests are not included in each Class' 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 05/11/20 05/08/20 $0.000 $0.125 
Class M 05/11/20 05/08/20 $0.000 $0.125 
Class C 05/11/20 05/08/20 $0.000 $0.125 
Class I 05/11/20 05/08/20 $0.000 $0.125 
Class Z 05/11/20 05/08/20 $0.000 $0.125 
Class Z6 05/11/20 05/08/20 $0.000 $0.125 
Fidelity Advisor Freedom 2005 Fund     
Class A 05/11/20 05/08/20 $0.023 $0.221 
Class M 05/11/20 05/08/20 $0.015 $0.221 
Class C 05/11/20 05/08/20 $0.000 $0.219 
Class I 05/11/20 05/08/20 $0.031 $0.221 
Class Z 05/11/20 05/08/20 $0.034 $0.221 
Class Z6 05/11/20 05/08/20 $0.035 $0.221 
Fidelity Advisor Freedom 2010 Fund     
Class A 05/11/20 05/08/20 $0.018 $0.297 
Class M 05/11/20 05/08/20 $0.010 $0.297 
Class C 05/11/20 05/08/20 $0.000 $0.290 
Class I 05/11/20 05/08/20 $0.026 $0.297 
Class Z 05/11/20 05/08/20 $0.028 $0.297 
Class Z6 05/11/20 05/08/20 $0.031 $0.297 
Fidelity Advisor Freedom 2015 Fund     
Class A 05/11/20 05/08/20 $0.012 $0.407 
Class M 05/11/20 05/08/20 $0.005 $0.407 
Class C 05/11/20 05/08/20 $0.000 $0.396 
Class I 05/11/20 05/08/20 $0.020 $0.407 
Class Z 05/11/20 05/08/20 $0.022 $0.407 
Class Z6 05/11/20 05/08/20 $0.024 $0.407 
Fidelity Advisor Freedom 2020 Fund     
Class A 05/11/20 05/08/20 $0.005 $0.465 
Class M 05/11/20 05/08/20 $0.000 $0.461 
Class C 05/11/20 05/08/20 $0.000 $0.451 
Class I 05/11/20 05/08/20 $0.014 $0.465 
Class Z 05/11/20 05/08/20 $0.018 $0.465 
Class Z6 05/11/20 05/08/20 $0.021 $0.465 
Fidelity Advisor Freedom 2025 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.435 
Class M 05/11/20 05/08/20 $0.000 $0.431 
Class C 05/11/20 05/08/20 $0.000 $0.431 
Class I 05/11/20 05/08/20 $0.006 $0.439 
Class Z 05/11/20 05/08/20 $0.010 $0.439 
Class Z6 05/11/20 05/08/20 $0.013 $0.439 
Fidelity Advisor Freedom 2030 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.508 
Class M 05/11/20 05/08/20 $0.000 $0.501 
Class C 05/11/20 05/08/20 $0.000 $0.497 
Class I 05/11/20 05/08/20 $0.000 $0.518 
Class Z 05/11/20 05/08/20 $0.000 $0.523 
Class Z6 05/11/20 05/08/20 $0.000 $0.526 
Fidelity Advisor Freedom 2035 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.528 
Class M 05/11/20 05/08/20 $0.000 $0.528 
Class C 05/11/20 05/08/20 $0.000 $0.528 
Class I 05/11/20 05/08/20 $0.000 $0.528 
Class Z 05/11/20 05/08/20 $0.000 $0.528 
Class Z6 05/11/20 05/08/20 $0.000 $0.528 
Fidelity Advisor Freedom 2040 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.580 
Class M 05/11/20 05/08/20 $0.000 $0.580 
Class C 05/11/20 05/08/20 $0.000 $0.580 
Class I 05/11/20 05/08/20 $0.000 $0.580 
Class Z 05/11/20 05/08/20 $0.000 $0.580 
Class Z6 05/11/20 05/08/20 $0.000 $0.580 
Fidelity Advisor Freedom 2045 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.408 
Class M 05/11/20 05/08/20 $0.000 $0.408 
Class C 05/11/20 05/08/20 $0.000 $0.408 
Class I 05/11/20 05/08/20 $0.000 $0.408 
Class Z 05/11/20 05/08/20 $0.000 $0.408 
Class Z6 05/11/20 05/08/20 $0.000 $0.408 
Fidelity Advisor Freedom 2050 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.415 
Class M 05/11/20 05/08/20 $0.000 $0.415 
Class C 05/11/20 05/08/20 $0.000 $0.415 
Class I 05/11/20 05/08/20 $0.000 $0.415 
Class Z 05/11/20 05/08/20 $0.000 $0.415 
Class Z6 05/11/20 05/08/20 $0.000 $0.415 
Fidelity Advisor Freedom 2055 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.448 
Class M 05/11/20 05/08/20 $0.000 $0.448 
Class C 05/11/20 05/08/20 $0.000 $0.448 
Class I 05/11/20 05/08/20 $0.000 $0.448 
Class Z 05/11/20 05/08/20 $0.000 $0.448 
Class Z6 05/11/20 05/08/20 $0.000 $0.448 
Fidelity Advisor Freedom 2060 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.361 
Class M 05/11/20 05/08/20 $0.000 $0.361 
Class C 05/11/20 05/08/20 $0.000 $0.361 
Class I 05/11/20 05/08/20 $0.000 $0.365 
Class Z 05/11/20 05/08/20 $0.000 $0.369 
Class Z6 05/11/20 05/08/20 $0.000 $0.374 
Fidelity Advisor Freedom 2065 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.126 
Class M 05/11/20 05/08/20 $0.000 $0.122 
Class C 05/11/20 05/08/20 $0.000 $0.122 
Class I 05/11/20 05/08/20 $0.000 $0.129 
Class Z 05/11/20 05/08/20 $0.000 $0.122 
Class Z6 05/11/20 05/08/20 $0.000 $0.131 

The funds hereby designate as capital gain dividend the amounts noted below for the taxable year ended March 31, 2020, or, if subsequently determined to be different, the net capital gain of such year.

Fidelity Advisor Freedom Income Fund $3,899,286 
Fidelity Advisor Freedom 2005 Fund $5,119,289 
Fidelity Advisor Freedom 2010 Fund $16,051,696 
Fidelity Advisor Freedom 2015 Fund $47,895,465 
Fidelity Advisor Freedom 2020 Fund $111,037,501 
Fidelity Advisor Freedom 2025 Fund $131,357,106 
Fidelity Advisor Freedom 2030 Fund $143,001,401 
Fidelity Advisor Freedom 2035 Fund $125,437,108 
Fidelity Advisor Freedom 2040 Fund $106,900,914 
Fidelity Advisor Freedom 2045 Fund $65,194,988 
Fidelity Advisor Freedom 2050 Fund $52,974,088 
Fidelity Advisor Freedom 2055 Fund $28,666,443 
Fidelity Advisor Freedom 2060 Fund $8,549,439 
Fidelity Advisor Freedom 2065 Fund $101,455 

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 26.67% 
Class M 26.67% 
Class C 26.67% 
Class I 26.67% 
Class Z 26.67% 
Class Z6 26.67% 
Fidelity Advisor Freedom 2005 Fund  
Class A 23.15% 
Class M 23.15% 
Class C 23.15% 
Class I 23.15% 
Class Z 23.15% 
Class Z6 23.15% 
Fidelity Advisor Freedom 2010 Fund  
Class A 18.92% 
Class M 18.92% 
Class C 18.92% 
Class I 18.92% 
Class Z 18.92% 
Class Z6 18.92% 
Fidelity Advisor Freedom 2015 Fund  
Class A 15.54% 
Class M 15.54% 
Class C 15.54% 
Class I 15.54% 
Class Z 15.54% 
Class Z6 15.54% 
Fidelity Advisor Freedom 2020 Fund  
Class A 13.01% 
Class M 13.01% 
Class C 13.01% 
Class I 13.01% 
Class Z 13.01% 
Class Z6 13.01% 
Fidelity Advisor Freedom 2025 Fund  
Class A 10.82% 
Class M 10.82% 
Class C 10.82% 
Class I 10.82% 
Class Z 10.82% 
Class Z6 10.82% 
Fidelity Advisor Freedom 2030 Fund  
Class A 9.54% 
Class M 9.54% 
Class C 9.54% 
Class I 9.54% 
Class Z 9.54% 
Class Z6 9.54% 
Fidelity Advisor Freedom 2035 Fund  
Class A 5.32% 
Class M 5.32% 
Class C 5.32% 
Class I 5.32% 
Class Z 5.32% 
Class Z6 5.32% 
Fidelity Advisor Freedom 2040 Fund  
Class A 5.01% 
Class M 5.01% 
Class C 5.01% 
Class I 5.01% 
Class Z 5.01% 
Class Z6 5.01% 
Fidelity Advisor Freedom 2045 Fund  
Class A 4.84% 
Class M 4.84% 
Class C 4.84% 
Class I 4.84% 
Class Z 4.84% 
Class Z6 4.84% 
Fidelity Advisor Freedom 2050 Fund  
Class A 4.84% 
Class M 4.84% 
Class C 4.84% 
Class I 4.84% 
Class Z 4.84% 
Class Z6 4.84% 
Fidelity Advisor Freedom 2055 Fund  
Class A 4.70% 
Class M 4.70% 
Class C 4.70% 
Class I 4.70% 
Class Z 4.70% 
Class Z6 4.70% 
Fidelity Advisor Freedom 2060 Fund  
Class A 4.96% 
Class C 4.96% 
Class I 4.96% 
Class M 4.96% 
Class Z 4.96% 
Class Z6 4.96% 
Fidelity Advisor Freedom 2065 Fund  
Class A 4.20% 
Class C 4.20% 
Class I 4.20% 
Class M 4.20% 
Class Z 4.20% 
Class Z6 4.20% 

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 2019 – – – – – – 
May 2019 5% 6% 15% 4% 4% 4% 
June 2019 7% 8% 18% 5% 4% 5% 
July 2019 6% 7% 15% 5% 5% 5% 
August 2019 6% 7% 12% 5% 5% 5% 
September 2019 6% 8% 14% 5% 5% 5% 
October 2019 6% 7% 9% 5% 5% 5% 
November 2019 6% 8% 18% 5% 5% 5% 
December 2019 6% 7% 7% 6% 6% 6% 
February 2020 1% 2% 3% 1% 1% 1% 
March 2020 4% – – 1% 1% 1% 
Fidelity Advisor Freedom 2005 Fund       
May 2019 1% 2% – 1% 1% 1% 
December 2019 10% 11% 14% 9% 8% 8% 
Fidelity Advisor Freedom 2010 Fund       
May 2019 2% 3% – 2% 1% 1% 
December 2019 14% 15% 21% 12% 12% 11% 
Fidelity Advisor Freedom 2015 Fund       
May 2019 4% 7% – 3% 2% 3% 
December 2019 18% 20% 29% 16% 15% 15% 
Fidelity Advisor Freedom 2020 Fund       
May 2019 9% 33% – 5% 3% 4% 
December 2019 23% 25% 34% 20% 18% 18% 
Fidelity Advisor Freedom 2025 Fund       
May 2019 8% 24% – 5% 3% 3% 
December 2019 26% 30% 39% 24% 22% 21% 
Fidelity Advisor Freedom 2030 Fund       
May 2019 27% – – 12% 4% 7% 
December 2019 34% 38% 51% 30% 27% 27% 
Fidelity Advisor Freedom 2035 Fund       
May 2019 34% – – 14% 6% 8% 
December 2019 46% 52% 71% 40% 36% 35% 
Fidelity Advisor Freedom 2040 Fund       
May 2019 40% – – 17% 7% 9% 
December 2019 51% 58% 81% 44% 39% 38% 
Fidelity Advisor Freedom 2045 Fund       
May 2019 38% – – 16% 7% 10% 
December 2019 50% 57% 76% 43% 39% 38% 
Fidelity Advisor Freedom 2050 Fund       
May 2019 25% – – 15% 8% 10% 
December 2019 49% 57% 79% 43% 38% 38% 
Fidelity Advisor Freedom 2055 Fund       
May 2019 16% 55% – 10% 5% 6% 
December 2019 48% 55% 76% 42% 38% 37% 
Fidelity Advisor Freedom 2060 Fund       
May 2019 14% 38% – 9% 7% 7% 
December 2019 45% 51% 68% 40% 36% 35% 
Fidelity Advisor Freedom 2065 Fund       
December 2019 30% 34% 43% 29% 29% 29% 

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 2019 – – – – – – 
May 2019 16% 19% 46% 14% 14% 13% 
June 2019 20% 24% 54% 16% 14% 15% 
July 2019 19% 23% 45% 16% 16% 15% 
August 2019 19% 22% 35% 17% 16% 16% 
September 2019 19% 23% 42% 16% 16% 16% 
October 2019 19% 21% 28% 17% 17% 17% 
November 2019 19% 25% 55% 16% 15% 15% 
December 2019 19% 20% 22% 18% 17% 17% 
February 2020 2% 2% 3% 2% 2% 2% 
March 2020 4% – – 1% 1% 1% 
Fidelity Advisor Freedom 2005 Fund       
May 2019 2% 3% – 2% 2% 2% 
December 2019 25% 29% 38% 23% 22% 21% 
Fidelity Advisor Freedom 2010 Fund       
May 2019 4% 5% – 3% 2% 3% 
December 2019 33% 37% 49% 30% 28% 28% 
Fidelity Advisor Freedom 2015 Fund       
May 2019 7% 11% – 5% 3% 4% 
December 2019 42% 46% 65% 38% 35% 35% 
Fidelity Advisor Freedom 2020 Fund       
May 2019 16% 56% – 10% 5% 7% 
December 2019 51% 57% 76% 45% 42% 41% 
Fidelity Advisor Freedom 2025 Fund       
May 2019 8% 23% – 5% 3% 4% 
December 2019 59% 66% 87% 53% 48% 48% 
Fidelity Advisor Freedom 2030 Fund       
May 2019 37% – – 16% 7% 10% 
December 2019 74% 83% 100% 65% 60% 58% 
Fidelity Advisor Freedom 2035 Fund       
May 2019 89% – – 38% 15% 23% 
December 2019 100% 100% 100% 87% 78% 77% 
Fidelity Advisor Freedom 2040 Fund       
May 2019 97% – – 42% 17% 23% 
December 2019 100% 100% 100% 100% 100% 100% 
Fidelity Advisor Freedom 2045 Fund       
May 2019 94% – – 39% 17% 24% 
December 2019 100% 100% 100% 100% 100% 100% 
Fidelity Advisor Freedom 2050 Fund       
May 2019 96% – – 58% 32% 38% 
December 2019 100% 100% 100% 100% 100% 99% 
Fidelity Advisor Freedom 2055 Fund       
May 2019 58% 100% – 35% 17% 23% 
December 2019 100% 100% 100% 96% 86% 85% 
Fidelity Advisor Freedom 2060 Fund       
May 2019 41% 100% – 27% 20% 20% 
December 2019 99% 100% 100% 88% 79% 78% 
Fidelity Advisor Freedom 2065 Fund       
December 2019 74% 82% 100% 71% 71% 71% 

A percentage of the dividends distributed during the prior 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       
February 2019 2% 2% 3% 1% 1% 1% 
March 2019 2% 2% 4% 1% 1% 1% 

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 2019 – – – – – – 
May 2019 1% 2% 3% 1% 1% 1% 
June 2019 2% 2% 4% 1% 1% 1% 
July 2019 2% 2% 3% 2% 2% 1% 
August 2019 2% 2% 3% 2% 1% 1% 
September 2019 2% 2% 3% 1% 1% 1% 
October 2019 2% 2% 2% 2% 2% 2% 
November 2019 2% 2% 4% 1% 1% 1% 
December 2019 2% 2% 2% 2% 2% 2% 
February 2020 1% 1% 2% 1% 1% 1% 
March 2020 2% – – 1% 1% 1% 
Fidelity Advisor Freedom 2005 Fund       
May 2019 1% 2% – 1% 1% 1% 
December 2019 2% 2% 3% 2% 2% 2% 
Fidelity Advisor Freedom 2010 Fund       
May 2019 1% 2% – 1% 1% 1% 
December 2019 2% 2% 3% 2% 2% 2% 
Fidelity Advisor Freedom 2015 Fund       
May 2019 2% 3% – 2% 1% 1% 
December 2019 2% 3% 4% 2% 2% 2% 
Fidelity Advisor Freedom 2020 Fund       
May 2019 3% 11% – 2% 1% 2% 
December 2019 3% 3% 4% 3% 2% 2% 
Fidelity Advisor Freedom 2025 Fund       
May 2019 3% 8% – 2% 1% 2% 
December 2019 3% 3% 4% 3% 3% 3% 
Fidelity Advisor Freedom 2030 Fund       
May 2019 1% – – 1% 1% 1% 
December 2019 4% 4% – 3% 3% 3% 
Fidelity Advisor Freedom 2035 Fund       
May 2019 7% – – 3% 2% 2% 
December 2019 1% – – 9% 8% 8% 
Fidelity Advisor Freedom 2040 Fund       
May 2019 4% – – 4% 2% 2% 
December 2019 – – – – – – 
Fidelity Advisor Freedom 2045 Fund       
May 2019 6% – – 3% 1% 2% 
December 2019 – – – – – – 
Fidelity Advisor Freedom 2050 Fund       
May 2019 4% – – 2% 2% 2% 
December 2019 – – – – 1% 2% 
Fidelity Advisor Freedom 2055 Fund       
May 2019 4% – – 3% 2% 2% 
December 2019 – – – 5% 15% 16% 
Fidelity Advisor Freedom 2060 Fund       
May 2019 3% – – 2% 2% 2% 
December 2019 2% – – 4% 4% 4% 
Fidelity Advisor Freedom 2065 Fund       
December 2019 3% 3% – 3% 3% 3% 

The funds will notify shareholders in January 2021 of amounts for use in preparing 2020 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, 2018 through November 30, 2019. 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.





Fidelity Investments

AFF-ANN-0520
1.792114.117




Fidelity Freedom® Index Funds - Income, 2005, 2010, 2015, 2020, 2025, 2030, 2035, 2040, 2045, 2050, 2055, 2060, 2065



Annual Report

March 31, 2020

Fidelity Investments
See the inside front cover for important information about access to your fund’s shareholder reports.


Fidelity Investments

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary, such as a financial advisor, broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a fund electronically, by contacting your financial intermediary. For Fidelity customers, visit Fidelity's web site or call Fidelity using the contact information listed below.

You may elect to receive all future reports in paper free of charge. If you wish to continue receiving paper copies of your shareholder reports, you may contact your financial intermediary or, if you are a Fidelity customer, visit Fidelity’s website, or call Fidelity at the applicable toll-free number listed below. Your election to receive reports in paper will apply to all funds held with the fund complex/your financial intermediary.

Account Type Website Phone Number 
Brokerage, Mutual Fund, or Annuity Contracts: fidelity.com/mailpreferences 1-800-343-3548 
Employer Provided Retirement Accounts: netbenefits.fidelity.com/preferences (choose 'no' under Required Disclosures to continue to print) 1-800-343-0860 
Advisor Sold Accounts Serviced Through Your Financial Intermediary: Contact Your Financial Intermediary Your Financial Intermediary's phone number 
Advisor Sold Accounts Serviced by Fidelity: institutional.fidelity.com 1-877-208-0098 


Contents

Note to Shareholders

Performance

Management's Discussion of Fund Performance

Fidelity Freedom® Index Income Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Index 2005 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Index 2010 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Index 2015 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Index 2020 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Index 2025 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Index 2030 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Index 2035 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Index 2040 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Index 2045 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Index 2050 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Index 2055 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Index 2060 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Index 2065 Fund

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Report of Independent Registered Public Accounting Firm

Trustees and Officers

Shareholder Expense Example

Distributions

Liquidity Risk Management Program


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.

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. © 2020 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:
(No Action is Required by You)

As part of a regular review of its organizational structure, Fidelity has decided to merge certain entities to streamline operations, increase efficiency, simplify reporting, and reduce legal, compliance, and accounting complexity and costs. In separate events, Fidelity has merged four of its investment advisers and two of its broker-dealers.

Effective on or about January 1, 2020, following any required regulatory notices and approvals:

Investment advisers Fidelity Investments Money Management, Inc., FMR Co., Inc., and Fidelity SelectCo, LLC, merged with and into Fidelity Management & Research Company. In connection with the merger transactions, the resulting, merged investment adviser was then redomiciled from Massachusetts to Delaware, changed its corporate structure from a corporation to a limited liability company, and changed its name to “Fidelity Management & Research Company LLC”.

Broker-dealer Fidelity Distributors Corporation merged with and into Fidelity Investments Institutional Services Company, Inc. (“FIISC”). FIISC was then redomiciled from Massachusetts to Delaware, changed its corporate structure from a corporation to a limited liability company, and changed its name to “Fidelity Distributors Company LLC”.

These mergers are not expected to affect fund shareholders or Fidelity clients, nor are they expected to result in any changes to the day-to-day management of Fidelity’s brokerage services, the Fidelity funds, their investment policies and practices, their portfolio management teams, or the funds’ expenses.

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 corporate earnings. The virus causes a respiratory disease known as COVID-19. On March 11, 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, the U.S. government took unprecedented action – in concert with the U.S. Federal Reserve and central banks around the world – to help support consumers, businesses, and the broader economy, and to limit disruption to the financial system.

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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Investor Class 3.83% 3.20% 3.59% 
Institutional Premium Class 3.98% 3.26% 3.62% 

 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. 

$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, 2010.

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

$14,236Fidelity Freedom® Index Income Fund - Investor Class

$14,639Bloomberg 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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Investor Class 2.91% 3.58% 4.58% 
Institutional Premium Class 2.95% 3.62% 4.61% 

 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. 

$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, 2010.

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

$15,655Fidelity Freedom® Index 2005 Fund - Investor Class

$14,639Bloomberg 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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Investor Class 1.34% 3.74% 5.24% 
Institutional Premium Class 1.37% 3.79% 5.26% 

 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. 

$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, 2010.

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

$16,660Fidelity Freedom® Index 2010 Fund - Investor Class

$14,639Bloomberg 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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Investor Class (0.17)% 3.88% 5.47% 
Institutional Premium Class (0.15)% 3.92% 5.49% 

 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. 

$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, 2010.

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

$17,041Fidelity Freedom® Index 2015 Fund - Investor Class

$14,639Bloomberg 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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Investor Class (1.62)% 3.89% 5.72% 
Institutional Premium Class (1.57)% 3.95% 5.75% 

 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. 

$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, 2010.

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

$17,446Fidelity Freedom® Index 2020 Fund - Investor Class

$27,210S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Investor Class (2.75)% 3.93% 6.21% 
Institutional Premium Class (2.71)% 3.98% 6.24% 

 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. 

$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, 2010.

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

$18,267Fidelity Freedom® Index 2025 Fund - Investor Class

$27,210S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Investor Class (4.38)% 4.22% 6.52% 
Institutional Premium Class (4.40)% 4.28% 6.55% 

 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. 

$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, 2010.

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

$18,813Fidelity Freedom® Index 2030 Fund - Investor Class

$27,210S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Investor Class (7.39)% 4.06% 6.71% 
Institutional Premium Class (7.33)% 4.12% 6.75% 

 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. 

$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, 2010.

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

$19,149Fidelity Freedom® Index 2035 Fund - Investor Class

$27,210S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Investor Class (8.93)% 3.74% 6.58% 
Institutional Premium Class (8.89)% 3.79% 6.61% 

 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. 

$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, 2010.

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

$18,920Fidelity Freedom® Index 2040 Fund - Investor Class

$27,210S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Investor Class (8.96)% 3.73% 6.64% 
Institutional Premium Class (8.88)% 3.79% 6.67% 

 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. 

$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, 2010.

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

$19,012Fidelity Freedom® Index 2045 Fund - Investor Class

$27,210S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Past 10 years 
Investor Class (8.95)% 3.72% 6.64% 
Institutional Premium Class (8.91)% 3.77% 6.66% 

 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. 

$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, 2010.

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

$19,012Fidelity Freedom® Index 2050 Fund - Investor Class

$27,210S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Life of fundA 
Investor Class (8.94)% 3.72% 5.85% 
Institutional Premium Class (8.85)% 3.79% 5.89% 

 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. 

$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

$16,528Fidelity Freedom® Index 2055 Fund - Investor Class

$23,650S&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

For the periods ended March 31, 2020 Past 1 year Past 5 years Life of fundA 
Investor Class (8.95)% 3.72% 4.15% 
Institutional Premium Class (8.93)% 3.77% 4.20% 

 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. 

$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

$12,590Fidelity Freedom® Index 2060 Fund - Investor Class

$15,122S&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 for Fidelity Freedom® Index 2065 Fund will be reported once the fund is a year old.

$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

$8,776Fidelity Freedom® Index 2065 Fund - Investor Class

$8,918S&P 500® Index

Management's Discussion of Fund Performance

Market Recap:  The performance of financial assets during the 12-month period ending March 31, 2020 was significantly influenced by the outbreak and spread of a novel coronavirus in the first quarter of 2020. The outbreak curtailed global economic growth and the outlook for corporate earnings in domestic and foreign markets. Declared a pandemic on March 11, the crisis and containment efforts led to increased uncertainty, broad-based contraction in economic activity, higher volatility, and dislocation in the financial markets as investors digested new information. Against this backdrop, the Dow Jones U.S. Total Stock Market Index had a return of -9.28% for the year. By mid-March, the U.S. stock market entered bear-market territory less than a month after hitting an all-time high. The energy sector (-55%) fared worst, whereas information technology (+7%) stood out as the only sector with a positive return. Consumer staples and health care (-2% each) held up reasonably well. Large-cap stocks outpaced smaller-caps, while growth outpaced value. Elsewhere, commodities generally lagged equities. Non-U.S. equities returned -15.42% for the 12 months, according to the MSCI ACWI (All Country World Index) ex USA Index (Net MA). With the exception of Japan (-6%), all regions within the index experienced a double-digit decline. The U.K. and Asia Pacific ex Japan (-23% each) regions fared worst, while Europe ex U.K. (-12%) outperformed. Sector-wise, notable laggards included energy (-37%), real estate (-25%) and financials (-24%), while health care (+5%) and information technology (+2%) outperformed. Turning to fixed income, U.S. taxable investment-grade bonds (the Bloomberg Barclays U.S. Aggregate Bond Index) advanced 8.93%, as investors generally sought their perceived safety. Within the index, U.S. Treasury bonds led the way (+13%), while others securitized debt categories lagged. Extended (non-core) fixed income classes, such as leveraged loans fared poorly (-10%), as did high-yield bonds (-7%) and emerging-markets debt (-5).

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 return, ranging from 3.83% for Fidelity Freedom® Index Income Fund to -8.96% for Fidelity Freedom Index 2045 Fund. Each Fund performed roughly in line with its respective Composite index. Non-U.S. and U.S. equities were the worst-performing asset classes the past 12 months, pressured by the spreading coronavirus and related “stay at home” guidelines from federal and state officials. In the U.S., a historically rapid and expansive U.S. monetary- and fiscal-policy response helped mitigate the most acute near-term liquidity issues, but the negative impact on the economy and corporate earnings was significant. The Funds’ investment in Fidelity® Series Global ex U.S. Index Fund, which invests in non-U.S. stocks, returned -15.67% the past 12 months, roughly in line with the -15.42% return of the MSCI ACWI (All Country World Index) ex U.S.A. Index (Net MA). An investment in Fidelity® Series Total Market Index Fund, which invests in large and small-cap stocks as well as growth and value stocks, returned -9.30%, about in line with the performance of the benchmark Dow Jones U.S. Total Stock Market Index (-9.28%). Looking at other asset classes, fixed-income and short-term securities performed well overall. Long-term U.S. Treasury bonds performed best, as measured by the 32.64% advance of the Bloomberg Barclays U.S. Long-Term Treasury Bond Index. Comparatively, our position in Fidelity® Series Long-Term Treasury Bond Index Fund gained 33.19%. The Bloomberg Barclays U.S. Aggregate Bond Index, the benchmark for investment-grade bonds, gained 8.93%, compared to a gain of 9.18% for our stake in Fidelity® Series Investment Grade Bond Index Fund. Inflation-protected securities and short-term securities returned 4.50% and 2.57%, 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.

Note to Shareholders:  Board approval has been requested to launch a new share class for each fund. If approved, the new share class will launch on June 26, 2020.

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, 2020

 % of fund's net assets 
Fidelity Series Bond Index Fund 45.7 
Fidelity Series Treasury Bill Index Fund 22.6 
Fidelity Series Total Market Index Fund 11.2 
Fidelity Series Inflation-Protected Bond Index Fund 10.0 
Fidelity Series Global ex U.S. Index Fund 7.5 
Fidelity Series Long-Term Treasury Bond Index Fund 3.0 
Fidelity Cash Central Fund 0.29% 0.0 
 100.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 11.2% 
   International Equity Funds 7.5% 
   Bond Funds 48.7% 
   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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 11.2%   
 Shares Value 
Fidelity Series Total Market Index Fund (a)   
(Cost $71,316,365) 7,239,626 62,405,580 
International Equity Funds - 7.5%   
Fidelity Series Global ex U.S. Index Fund (a)   
(Cost $46,920,980) 4,155,271 41,926,680 
Bond Funds - 48.7%   
Fidelity Series Bond Index Fund (a) 24,025,371 255,629,952 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 1,578,525 16,874,437 
TOTAL BOND FUNDS   
(Cost $256,367,596)  272,504,389 
Inflation-Protected Bond Funds - 10.0%   
Fidelity Series Inflation-Protected Bond Index Fund (a)   
(Cost $55,495,052) 5,547,839 55,922,222 
Short-Term Funds - 22.6%   
Fidelity Cash Central Fund 0.29% (b) 19 20 
Fidelity Series Treasury Bill Index Fund (a) 12,560,176 126,104,162 
TOTAL SHORT-TERM FUNDS   
(Cost $125,584,205)  126,104,182 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $555,684,198)  558,863,053 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (44,519) 
NET ASSETS - 100%  $558,818,534 

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 $16 
Total $16 

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(a) Sales Proceeds(a) Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Fidelity Series Bond Index Fund $-- $278,904,165 $36,134,739 $5,566,492 $13,077 $12,847,449 $255,629,952 
Fidelity Series Global ex U.S. Index Fund 20,110,090 33,646,911 3,701,992 827,049 (196,926) (7,931,403) 41,926,680 
Fidelity Series Inflation-Protected Bond Index Fund 35,147,725 26,134,905 6,489,560 730,526 (230,938) 1,360,090 55,922,222 
Fidelity Series Long-Term Treasury Bond Index Fund 10,750,841 9,589,489 6,468,635 1,470,671 202,809 2,799,933 16,874,437 
Fidelity Series Total Market Index Fund -- 92,831,063 21,507,478 838,214 (7,220) (8,910,785) 62,405,580 
Fidelity Series Treasury Bill Index Fund 79,322,502 60,986,574 14,817,153 2,013,833 15,041 597,198 126,104,162 
Fidelity Total Market Index Fund Class F 46,997,134 2,867,178 51,473,180 223,856 24,412,010 (22,803,142) -- 
Fidelity U.S. Bond Index Fund Class F 161,045,339 8,884,649 169,604,151 367,358 720,446 (1,046,283) -- 
 $353,373,631 $513,844,934 $310,196,888 $12,037,999 $24,928,299 $(23,086,943) $558,863,033 

 (a) Includes the value of shares purchased or redeemed through in-kind transactions, if applicable.

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $20) $20  
Other affiliated issuers (cost $555,684,178) 558,863,033  
Total Investment in Securities (cost $555,684,198)  $558,863,053 
Cash  147 
Receivable for investments sold  9,989,618 
Receivable for fund shares sold  2,210,632 
Total assets  571,063,450 
Liabilities   
Payable for investments purchased $11,957,298  
Payable for fund shares redeemed 242,945  
Accrued management fee 44,673  
Total liabilities  12,244,916 
Net Assets  $558,818,534 
Net Assets consist of:   
Paid in capital  $554,617,992 
Total accumulated earnings (loss)  4,200,542 
Net Assets  $558,818,534 
Net Asset Value and Maximum Offering Price   
Investor Class:   
Net Asset Value, offering price and redemption price per share ($282,521,532 ÷ 24,352,436 shares)  $11.60 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($276,297,002 ÷ 23,848,162 shares)  $11.59 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $9,747,597 
Income from Fidelity Central Funds  16 
Total income  9,747,613 
Expenses   
Management fee $406,777  
Transfer agent fees 77,284  
Independent trustees' fees and expenses 1,701  
Total expenses before reductions 485,762  
Expense reductions (16,163)  
Total expenses after reductions  469,599 
Net investment income (loss)  9,278,014 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 24,928,430  
Capital gain distributions from underlying funds:   
Affiliated issuers 2,290,402  
Total net realized gain (loss)  27,218,832 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (23,086,943)  
Total change in net unrealized appreciation (depreciation)  (23,086,943) 
Net gain (loss)  4,131,889 
Net increase (decrease) in net assets resulting from operations  $13,409,903 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $9,278,014 $7,023,485 
Net realized gain (loss) 27,218,832 2,934,205 
Change in net unrealized appreciation (depreciation) (23,086,943) 3,898,727 
Net increase (decrease) in net assets resulting from operations 13,409,903 13,856,417 
Distributions to shareholders (35,256,615) (9,588,519) 
Share transactions - net increase (decrease) 227,317,964 58,712,635 
Total increase (decrease) in net assets 205,471,252 62,980,533 
Net Assets   
Beginning of period 353,347,282 290,366,749 
End of period $558,818,534 $353,347,282 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $11.98 $11.86 $11.63 $11.36 $11.52 
Income from Investment Operations      
Net investment income (loss)A .24 .25 .20 .17 .16 
Net realized and unrealized gain (loss) .23 .22 .27 .28 (.15) 
Total from investment operations .47 .47 .47 .45 .01 
Distributions from net investment income (.24) (.25) (.19) (.17) (.16) 
Distributions from net realized gain (.62) (.10) (.04) (.01) (.01) 
Total distributions (.85)B (.35) (.24)C (.18) (.17) 
Net asset value, end of period $11.60 $11.98 $11.86 $11.63 $11.36 
Total ReturnD 3.83% 4.09% 4.02% 4.02% .10% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .12% .15% .15% .15% .15% 
Expenses net of fee waivers, if any .12% .12% .12% .08% .07% 
Expenses net of all reductions .12% .12% .12% .08% .07% 
Net investment income (loss) 1.96% 2.15% 1.69% 1.48% 1.39% 
Supplemental Data      
Net assets, end of period (000 omitted) $282,522 $167,641 $126,634 $118,421 $140,481 
Portfolio turnover rateF 67% 51% 17% 52% 22% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.85 per share is comprised of distributions from net investment income of $.235 and distributions from net realized gain of $.618 per share.

 C Total distributions of $.24 per share is comprised of distributions from net investment income of $.192 and distributions from net realized gain of $.043 per share.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 F Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Index Income Fund Institutional Premium Class

Years ended March 31, 2020 2019 2018 2017 2016 A 
Selected Per–Share Data      
Net asset value, beginning of period $11.96 $11.84 $11.61 $11.35 $11.48 
Income from Investment Operations      
Net investment income (loss)B .24 .26 .21 .18 .18 
Net realized and unrealized gain (loss) .25 .22 .26 .27 (.15) 
Total from investment operations .49 .48 .47 .45 .03 
Distributions from net investment income (.24) (.26) (.20) (.18) (.15) 
Distributions from net realized gain (.62) (.10) (.04) (.01) (.01) 
Total distributions (.86) (.36) (.24) (.19) (.16) 
Net asset value, end of period $11.59 $11.96 $11.84 $11.61 $11.35 
Total ReturnC,D 3.98% 4.16% 4.07% 4.00% .26% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .08% .10% .10% .09% .05%G 
Expenses net of fee waivers, if any .08% .06% .07% .03% .01%G 
Expenses net of all reductions .08% .06% .07% .03% .01%G 
Net investment income (loss) 2.00% 2.21% 1.74% 1.54% 2.12%G 
Supplemental Data      
Net assets, end of period (000 omitted) $276,297 $185,706 $163,733 $145,993 $108,865 
Portfolio turnover rateF 67% 51% 17% 52% 22% 

 A For the period June 24, 2015 (commencement of sale of shares) to March 31, 2016.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Bond Index Fund 43.7 
Fidelity Series Treasury Bill Index Fund 19.7 
Fidelity Series Total Market Index Fund 14.8 
Fidelity Series Global ex U.S. Index Fund 9.9 
Fidelity Series Inflation-Protected Bond Index Fund 8.9 
Fidelity Series Long-Term Treasury Bond Index Fund 3.0 
 100.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 14.8% 
   International Equity Funds 9.9% 
   Bond Funds 46.7% 
   Inflation-Protected Bond Funds 8.9% 
   Short-Term Funds 19.7% 


Fidelity Freedom® Index 2005 Fund

Schedule of Investments March 31, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 14.8%   
 Shares Value 
Fidelity Series Total Market Index Fund (a)   
(Cost $29,577,828) 3,028,298 26,103,926 
International Equity Funds - 9.9%   
Fidelity Series Global ex U.S. Index Fund (a)   
(Cost $19,385,776) 1,740,426 17,560,895 
Bond Funds - 46.7%   
Fidelity Series Bond Index Fund (a) 7,248,713 77,126,302 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 499,727 5,342,082 
TOTAL BOND FUNDS   
(Cost $77,324,715)  82,468,384 
Inflation-Protected Bond Funds - 8.9%   
Fidelity Series Inflation-Protected Bond Index Fund (a)   
(Cost $15,647,300) 1,570,654 15,832,193 
Short-Term Funds - 19.7%   
Fidelity Series Treasury Bill Index Fund (a)   
(Cost $34,659,476) 3,466,217 34,800,814 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $176,595,095)  176,766,212 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (13,785) 
NET ASSETS - 100%  $176,752,427 

Legend

 (a) Affiliated Fund

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(a) Sales Proceeds(a) Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Fidelity Series Bond Index Fund $-- $91,467,762 $18,396,459 $1,747,423 $(7,304) $4,062,303 $77,126,302 
Fidelity Series Global ex U.S. Index Fund 10,573,328 13,069,897 2,868,823 365,703 (80,945) (3,132,562) 17,560,895 
Fidelity Series Inflation-Protected Bond Index Fund 11,202,177 7,228,909 2,954,527 211,070 (41,988) 397,622 15,832,193 
Fidelity Series Long-Term Treasury Bond Index Fund 3,983,556 3,026,455 2,631,887 482,489 68,089 895,869 5,342,082 
Fidelity Series Total Market Index Fund -- 42,000,293 12,505,982 370,127 83,517 (3,473,902) 26,103,926 
Fidelity Series Treasury Bill Index Fund 24,507,215 16,822,976 6,694,130 575,172 535 164,218 34,800,814 
Fidelity Total Market Index Fund Class F 24,629,144 534,965 25,988,339 114,008 12,787,715 (11,963,485) -- 
Fidelity U.S. Bond Index Fund Class F 55,946,192 928,761 56,757,106 123,654 162,769 (280,616) -- 
 $130,841,612 $175,080,018 $128,797,253 $3,989,646 $12,972,388 $(13,330,553) $176,766,212 

 (a) Includes the value of shares purchased or redeemed through in-kind transactions, if applicable.

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $176,595,095) $176,766,212  
Total Investment in Securities (cost $176,595,095)  $176,766,212 
Cash  82 
Receivable for investments sold  4,011,583 
Receivable for fund shares sold  464,908 
Total assets  181,242,785 
Liabilities   
Payable for investments purchased $4,096,287  
Payable for fund shares redeemed 380,201  
Accrued management fee 13,870  
Total liabilities  4,490,358 
Net Assets  $176,752,427 
Net Assets consist of:   
Paid in capital  $175,953,767 
Total accumulated earnings (loss)  798,660 
Net Assets  $176,752,427 
Net Asset Value and Maximum Offering Price   
Investor Class:   
Net Asset Value, offering price and redemption price per share ($93,764,589 ÷ 7,453,891 shares)  $12.58 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($82,987,838 ÷ 6,595,816 shares)  $12.58 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $3,237,831 
Expenses   
Management fee $134,911  
Transfer agent fees 27,723  
Independent trustees' fees and expenses 577  
Total expenses before reductions 163,211  
Expense reductions (5,905)  
Total expenses after reductions  157,306 
Net investment income (loss)  3,080,525 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 12,972,467  
Capital gain distributions from underlying funds:   
Affiliated issuers 751,815  
Total net realized gain (loss)  13,724,282 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (13,330,553)  
Total change in net unrealized appreciation (depreciation)  (13,330,553) 
Net gain (loss)  393,729 
Net increase (decrease) in net assets resulting from operations  $3,474,254 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $3,080,525 $2,560,903 
Net realized gain (loss) 13,724,282 1,388,778 
Change in net unrealized appreciation (depreciation) (13,330,553) 1,346,484 
Net increase (decrease) in net assets resulting from operations 3,474,254 5,296,165 
Distributions to shareholders (16,376,341) (3,609,349) 
Share transactions - net increase (decrease) 58,822,728 15,933,338 
Total increase (decrease) in net assets 45,920,641 17,620,154 
Net Assets   
Beginning of period 130,831,786 113,211,632 
End of period $176,752,427 $130,831,786 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $13.50 $13.36 $12.94 $12.45 $12.71 
Income from Investment Operations      
Net investment income (loss)A .27 .29 .23 .20 .20 
Net realized and unrealized gain (loss) .17 .26 .47 .52 (.25) 
Total from investment operations .44 .55 .70 .72 (.05) 
Distributions from net investment income (.26) (.26) (.21) (.20) (.20) 
Distributions from net realized gain (1.10) (.14) (.07) (.03) B 
Total distributions (1.36) (.41)C (.28) (.23) (.21)D 
Net asset value, end of period $12.58 $13.50 $13.36 $12.94 $12.45 
Total ReturnE 2.91% 4.25% 5.41% 5.84% (.40)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .12% .15% .15% .15% .15% 
Expenses net of fee waivers, if any .12% .12% .12% .09% .07% 
Expenses net of all reductions .12% .12% .12% .09% .07% 
Net investment income (loss) 1.96% 2.16% 1.74% 1.60% 1.58% 
Supplemental Data      
Net assets, end of period (000 omitted) $93,765 $66,875 $60,299 $43,767 $50,790 
Portfolio turnover rateG 83% 52% 26% 52% 28% 

 A Calculated based on average shares outstanding during the period.

 B Amount represents less than $.005 per share.

 C Total distributions of $.41 per share is comprised of distributions from net investment income of $.264 and distributions from net realized gain of $.142 per share.

 D Total distributions of $.21 per share is comprised of distributions from net investment income of $.203 and distributions from net realized gain of $.004 per share.

 E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 G Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Index 2005 Fund Institutional Premium Class

Years ended March 31, 2020 2019 2018 2017 2016 A 
Selected Per–Share Data      
Net asset value, beginning of period $13.50 $13.36 $12.94 $12.45 $12.73 
Income from Investment Operations      
Net investment income (loss)B .27 .30 .24 .21 .21 
Net realized and unrealized gain (loss) .17 .25 .46 .52 (.30) 
Total from investment operations .44 .55 .70 .73 (.09) 
Distributions from net investment income (.27) (.27) (.22) (.21) (.18) 
Distributions from net realized gain (1.10) (.14) (.07) (.03) C 
Total distributions (1.36)D (.41) (.28)E (.24) (.19)F 
Net asset value, end of period $12.58 $13.50 $13.36 $12.94 $12.45 
Total ReturnG,H 2.95% 4.31% 5.45% 5.90% (.73)% 
Ratios to Average Net AssetsI,J      
Expenses before reductions .08% .10% .10% .09% .05%K 
Expenses net of fee waivers, if any .08% .06% .07% .03% .01%K 
Expenses net of all reductions .08% .06% .07% .03% .01%K 
Net investment income (loss) 2.00% 2.22% 1.79% 1.66% 2.28%K 
Supplemental Data      
Net assets, end of period (000 omitted) $82,988 $63,956 $52,913 $46,992 $28,910 
Portfolio turnover rateJ 83% 52% 26% 52% 28% 

 A For the period June 24, 2015 (commencement of sale of shares) to March 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C Amount represents less than $.005 per share.

 D Total distributions of $1.36 per share is comprised of distributions from net investment income of $.265 and distributions from net realized gain of $1.099 per share.

 E Total distributions of $.28 per share is comprised of distributions from net investment income of $.217 and distributions from net realized gain of $.066 per share.

 F Total distributions of $.19 per share is comprised of distributions from net investment income of $.181 and distributions from net realized gain of $.004 per share.

 G Total returns for periods of less than one year are not annualized.

 H Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 I Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 J Amounts do not include the activity of Underlying Funds.

 K Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Bond Index Fund 40.2 
Fidelity Series Total Market Index Fund 20.2 
Fidelity Series Treasury Bill Index Fund 15.6 
Fidelity Series Global ex U.S. Index Fund 13.6 
Fidelity Series Inflation-Protected Bond Index Fund 7.4 
Fidelity Series Long-Term Treasury Bond Index Fund 3.0 
 100.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 20.2% 
   International Equity Funds 13.6% 
   Bond Funds 43.2% 
   Inflation-Protected Bond Funds 7.4% 
   Short-Term Funds 15.6% 


Fidelity Freedom® Index 2010 Fund

Schedule of Investments March 31, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 20.2%   
 Shares Value 
Fidelity Series Total Market Index Fund (a)   
(Cost $156,688,386) 15,867,836 136,780,743 
International Equity Funds - 13.6%   
Fidelity Series Global ex U.S. Index Fund (a)   
(Cost $100,186,728) 9,118,827 92,008,968 
Bond Funds - 43.2%   
Fidelity Series Bond Index Fund (a) 25,538,792 271,732,748 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 1,916,450 20,486,851 
TOTAL BOND FUNDS   
(Cost $272,711,618)  292,219,599 
Inflation-Protected Bond Funds - 7.4%   
Fidelity Series Inflation-Protected Bond Index Fund (a)   
(Cost $49,951,379) 5,015,337 50,554,600 
Short-Term Funds - 15.6%   
Fidelity Series Treasury Bill Index Fund (a)   
(Cost $104,960,599) 10,497,049 105,390,371 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $684,498,710)  676,954,281 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (52,653) 
NET ASSETS - 100%  $676,901,628 

Legend

 (a) Affiliated Fund

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(a) Sales Proceeds(a) Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Fidelity Series Bond Index Fund $-- $313,645,789 $57,741,805 $6,581,508 $464,490 $15,364,274 $271,732,748 
Fidelity Series Global ex U.S. Index Fund 60,989,749 57,775,391 8,307,157 1,965,025 (458,329) (17,990,686) 92,008,968 
Fidelity Series Inflation-Protected Bond Index Fund 40,209,406 16,776,874 7,703,477 709,686 (32,444) 1,304,241 50,554,600 
Fidelity Series Long-Term Treasury Bond Index Fund 17,192,727 9,041,227 9,884,283 1,936,087 776,654 3,360,526 20,486,851 
Fidelity Series Total Market Index Fund -- 212,196,837 55,620,975 1,989,435 112,525 (19,907,644) 136,780,743 
Fidelity Series Treasury Bill Index Fund 82,388,494 38,292,065 15,824,023 1,868,770 26,053 507,782 105,390,371 
Fidelity Total Market Index Fund Class F 142,397,568 3,193,596 150,374,603 659,972 84,437,199 (79,653,760) -- 
Fidelity U.S. Bond Index Fund Class F 221,012,303 3,821,796 224,373,229 490,671 659,877 (1,120,747) -- 
 $564,190,247 $654,743,575 $529,829,552 $16,201,154 $85,986,025 $(98,136,014) $676,954,281 

 (a) Includes the value of shares purchased or redeemed through in-kind transactions, if applicable.

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $684,498,710) $676,954,281  
Total Investment in Securities (cost $684,498,710)  $676,954,281 
Cash  548 
Receivable for investments sold  19,509,879 
Receivable for fund shares sold  338,783 
Total assets  696,803,491 
Liabilities   
Payable for investments purchased $19,063,809  
Payable for fund shares redeemed 784,842  
Accrued management fee 53,212  
Total liabilities  19,901,863 
Net Assets  $676,901,628 
Net Assets consist of:   
Paid in capital  $680,985,200 
Total accumulated earnings (loss)  (4,083,572) 
Net Assets  $676,901,628 
Net Asset Value and Maximum Offering Price   
Investor Class:   
Net Asset Value, offering price and redemption price per share ($353,955,243 ÷ 28,703,112 shares)  $12.33 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($322,946,385 ÷ 26,183,349 shares)  $12.33 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $13,194,380 
Expenses   
Management fee $540,443  
Transfer agent fees 118,251  
Independent trustees' fees and expenses 2,400  
Total expenses before reductions 661,094  
Expense reductions (27,065)  
Total expenses after reductions  634,029 
Net investment income (loss)  12,560,351 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 85,986,544  
Capital gain distributions from underlying funds:   
Affiliated issuers 3,006,774  
Total net realized gain (loss)  88,993,318 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (98,136,014)  
Total change in net unrealized appreciation (depreciation)  (98,136,014) 
Net gain (loss)  (9,142,696) 
Net increase (decrease) in net assets resulting from operations  $3,417,655 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $12,560,351 $12,005,508 
Net realized gain (loss) 88,993,318 13,050,615 
Change in net unrealized appreciation (depreciation) (98,136,014) (978,730) 
Net increase (decrease) in net assets resulting from operations 3,417,655 24,077,393 
Distributions to shareholders (99,261,191) (25,813,763) 
Share transactions - net increase (decrease) 208,593,558 6,980,109 
Total increase (decrease) in net assets 112,750,022 5,243,739 
Net Assets   
Beginning of period 564,151,606 558,907,867 
End of period $676,901,628 $564,151,606 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $14.17 $14.25 $13.72 $13.03 $13.36 
Income from Investment Operations      
Net investment income (loss)A .27 .30 .25 .23 .20 
Net realized and unrealized gain (loss) .04B .29 .65 .71 (.30) 
Total from investment operations .31 .59 .90 .94 (.10) 
Distributions from net investment income (.27) (.30) (.24) (.22) (.23) 
Distributions from net realized gain (1.88) (.37) (.14) (.02) C 
Total distributions (2.15) (.67) (.37)D (.25)E (.23) 
Net asset value, end of period $12.33 $14.17 $14.25 $13.72 $13.03 
Total ReturnF 1.34% 4.43% 6.62% 7.24% (.72)% 
Ratios to Average Net AssetsG,H      
Expenses before reductions .12% .15% .15% .15% .15% 
Expenses net of fee waivers, if any .12% .12% .12% .09% .08% 
Expenses net of all reductions .12% .12% .12% .09% .08% 
Net investment income (loss) 1.93% 2.13% 1.77% 1.70% 1.52% 
Supplemental Data      
Net assets, end of period (000 omitted) $353,955 $254,371 $239,660 $205,267 $232,187 
Portfolio turnover rateH 83% 45% 22% 36% 22% 

 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 Amount represents less than $.005 per share.

 D Total distributions of $.37 per share is comprised of distributions from net investment income of $.235 and distributions from net realized gain of $.137 per share.

 E Total distributions of $.25 per share is comprised of distributions from net investment income of $.221 and distributions from net realized gain of $.024 per share.

 F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 H Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Index 2010 Fund Institutional Premium Class

Years ended March 31, 2020 2019 2018 2017 2016 A 
Selected Per–Share Data      
Net asset value, beginning of period $14.17 $14.25 $13.73 $13.03 $13.43 
Income from Investment Operations      
Net investment income (loss)B .28 .31 .26 .24 .27 
Net realized and unrealized gain (loss) .04C .29 .64 .71 (.46) 
Total from investment operations .32 .60 .90 .95 (.19) 
Distributions from net investment income (.28) (.31) (.24) (.23) (.21) 
Distributions from net realized gain (1.88) (.37) (.14) (.02) D 
Total distributions (2.16) (.68) (.38) (.25) (.21) 
Net asset value, end of period $12.33 $14.17 $14.25 $13.73 $13.03 
Total ReturnE,F 1.37% 4.49% 6.59% 7.39% (1.39)% 
Ratios to Average Net AssetsG,H      
Expenses before reductions .08% .10% .10% .09% .05%I 
Expenses net of fee waivers, if any .08% .06% .07% .04% .02%I 
Expenses net of all reductions .08% .06% .07% .04% .02%I 
Net investment income (loss) 1.98% 2.19% 1.82% 1.75% 2.81%I 
Supplemental Data      
Net assets, end of period (000 omitted) $322,946 $309,781 $319,248 $286,173 $215,392 
Portfolio turnover rateH 83% 45% 22% 36% 22% 

 A For the period June 24, 2015 (commencement of sale of shares) to March 31, 2016.

 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 Amount represents less than $.005 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Bond Index Fund 36.4 
Fidelity Series Total Market Index Fund 25.7 
Fidelity Series Global ex U.S. Index Fund 17.3 
Fidelity Series Treasury Bill Index Fund 11.4 
Fidelity Series Inflation-Protected Bond Index Fund 6.2 
Fidelity Series Long-Term Treasury Bond Index Fund 3.0 
 100.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 25.7% 
   International Equity Funds 17.3% 
   Bond Funds 39.4% 
   Inflation-Protected Bond Funds 6.2% 
   Short-Term Funds 11.4% 


Fidelity Freedom® Index 2015 Fund

Schedule of Investments March 31, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 25.7%   
 Shares Value 
Fidelity Series Total Market Index Fund (a)   
(Cost $460,526,509) 46,583,362 401,548,581 
International Equity Funds - 17.3%   
Fidelity Series Global ex U.S. Index Fund (a)   
(Cost $300,356,097) 26,785,529 270,265,990 
Bond Funds - 39.4%   
Fidelity Series Bond Index Fund (a) 53,550,713 569,779,591 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 4,436,739 47,428,737 
TOTAL BOND FUNDS   
(Cost $575,553,347)  617,208,328 
Inflation-Protected Bond Funds - 6.2%   
Fidelity Series Inflation-Protected Bond Index Fund (a)   
(Cost $96,362,660) 9,666,718 97,440,517 
Short-Term Funds - 11.4%   
Fidelity Series Treasury Bill Index Fund (a)   
(Cost $177,807,356) 17,782,134 178,532,622 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $1,610,605,969)  1,564,996,038 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (120,691) 
NET ASSETS - 100%  $1,564,875,347 

Legend

 (a) Affiliated Fund

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(a) Sales Proceeds(a) Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Fidelity Series Bond Index Fund $-- $675,956,852 $139,568,051 $14,067,231 $1,326,681 $32,064,109 $569,779,591 
Fidelity Series Global ex U.S. Index Fund 178,708,770 173,194,862 26,725,354 6,017,954 (1,484,357) (53,427,931) 270,265,990 
Fidelity Series Inflation-Protected Bond Index Fund 77,589,300 35,116,504 17,701,495 1,413,718 (175,034) 2,611,242 97,440,517 
Fidelity Series Long-Term Treasury Bond Index Fund 40,310,575 22,675,573 25,112,691 4,658,601 1,826,678 7,728,602 47,428,737 
Fidelity Series Total Market Index Fund -- 621,427,033 161,292,690 6,089,448 392,166 (58,977,928) 401,548,581 
Fidelity Series Treasury Bill Index Fund 137,794,811 70,911,070 31,083,720 3,182,081 54,452 856,009 178,532,622 
Fidelity Total Market Index Fund Class F 417,999,393 8,117,252 440,157,037 1,944,170 226,412,635 (212,372,243) -- 
Fidelity U.S. Bond Index Fund Class F 466,952,280 6,733,341 472,702,192 1,036,407 547,988 (1,531,417) -- 
 $1,319,355,129 $1,614,132,487 $1,314,343,230 $38,409,610 $228,901,209 $(283,049,557) $1,564,996,038 

 (a) Includes the value of shares purchased or redeemed through in-kind transactions, if applicable.

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $1,610,605,969) $1,564,996,038  
Total Investment in Securities (cost $1,610,605,969)  $1,564,996,038 
Cash  1,827 
Receivable for investments sold  49,096,533 
Receivable for fund shares sold  915,860 
Total assets  1,615,010,258 
Liabilities   
Payable for investments purchased $48,937,123  
Payable for fund shares redeemed 1,075,246  
Accrued management fee 122,542  
Total liabilities  50,134,911 
Net Assets  $1,564,875,347 
Net Assets consist of:   
Paid in capital  $1,604,545,662 
Total accumulated earnings (loss)  (39,670,315) 
Net Assets  $1,564,875,347 
Net Asset Value and Maximum Offering Price   
Investor Class:   
Net Asset Value, offering price and redemption price per share ($887,109,821 ÷ 69,651,360 shares)  $12.74 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($677,765,526 ÷ 53,239,889 shares)  $12.73 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $31,097,611 
Expenses   
Management fee $1,311,331  
Transfer agent fees 285,297  
Independent trustees' fees and expenses 5,656  
Total expenses before reductions 1,602,284  
Expense reductions (62,509)  
Total expenses after reductions  1,539,775 
Net investment income (loss)  29,557,836 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 228,902,994  
Capital gain distributions from underlying funds:   
Affiliated issuers 7,311,999  
Total net realized gain (loss)  236,214,993 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (283,049,557)  
Total change in net unrealized appreciation (depreciation)  (283,049,557) 
Net gain (loss)  (46,834,564) 
Net increase (decrease) in net assets resulting from operations  $(17,276,728) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $29,557,836 $26,923,666 
Net realized gain (loss) 236,214,993 14,861,172 
Change in net unrealized appreciation (depreciation) (283,049,557) 16,015,397 
Net increase (decrease) in net assets resulting from operations (17,276,728) 57,800,235 
Distributions to shareholders (261,095,790) (39,581,607) 
Share transactions - net increase (decrease) 523,987,798 103,392,576 
Total increase (decrease) in net assets 245,615,280 121,611,204 
Net Assets   
Beginning of period 1,319,260,067 1,197,648,863 
End of period $1,564,875,347 $1,319,260,067 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $15.09 $14.92 $14.11 $13.22 $13.62 
Income from Investment Operations      
Net investment income (loss)A .29 .32 .27 .25 .23 
Net realized and unrealized gain (loss) (.12) .33 .83 .89 (.38) 
Total from investment operations .17 .65 1.10 1.14 (.15) 
Distributions from net investment income (.29) (.31) (.25) (.24) (.25) 
Distributions from net realized gain (2.23) (.17) (.04) (.01) B 
Total distributions (2.52) (.48) (.29) (.25) (.25) 
Net asset value, end of period $12.74 $15.09 $14.92 $14.11 $13.22 
Total ReturnC (.17)% 4.55% 7.82% 8.71% (1.10)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions .12% .15% .15% .15% .15% 
Expenses net of fee waivers, if any .12% .12% .12% .10% .08% 
Expenses net of all reductions .12% .12% .12% .10% .08% 
Net investment income (loss) 1.93% 2.12% 1.81% 1.80% 1.70% 
Supplemental Data      
Net assets, end of period (000 omitted) $887,110 $721,922 $637,221 $516,456 $577,905 
Portfolio turnover rateE 87% 36% 17% 29% 22% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 E Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Index 2015 Fund Institutional Premium Class

Years ended March 31, 2020 2019 2018 2017 2016 A 
Selected Per–Share Data      
Net asset value, beginning of period $15.08 $14.92 $14.10 $13.21 $13.72 
Income from Investment Operations      
Net investment income (loss)B .30 .33 .27 .25 .28 
Net realized and unrealized gain (loss) (.12) .31 .85 .90 (.56) 
Total from investment operations .18 .64 1.12 1.15 (.28) 
Distributions from net investment income (.29) (.32) (.26) (.25) (.23) 
Distributions from net realized gain (2.23) (.17) (.04) (.01) C 
Total distributions (2.53)D (.48)E (.30) (.26) (.23) 
Net asset value, end of period $12.73 $15.08 $14.92 $14.10 $13.21 
Total ReturnF,G (.15)% 4.55% 7.94% 8.79% (2.03)% 
Ratios to Average Net AssetsH,I      
Expenses before reductions .08% .10% .10% .09% .05%J 
Expenses net of fee waivers, if any .08% .06% .07% .04% .02%J 
Expenses net of all reductions .08% .06% .07% .04% .02%J 
Net investment income (loss) 1.97% 2.18% 1.86% 1.85% 2.84%J 
Supplemental Data      
Net assets, end of period (000 omitted) $677,766 $597,338 $560,428 $520,752 $330,221 
Portfolio turnover rateI 87% 36% 17% 29% 22% 

 A For the period June 24, 2015 (commencement of sale of shares) to March 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C Amount represents less than $.005 per share.

 D Total distributions of $2.53 per share is comprised of distributions from net investment income of $.293 and distributions from net realized gain of $2.234 per share.

 E Total distributions of $.48 per share is comprised of distributions from net investment income of $.315 and distributions from net realized gain of $.169 per share.

 F Total returns for periods of less than one year are not annualized.

 G Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 I Amounts do not include the activity of Underlying Funds.

 J Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Bond Index Fund 33.0 
Fidelity Series Total Market Index Fund 30.6 
Fidelity Series Global ex U.S. Index Fund 20.6 
Fidelity Series Treasury Bill Index Fund 7.8 
Fidelity Series Inflation-Protected Bond Index Fund 5.0 
Fidelity Series Long-Term Treasury Bond Index Fund 3.0 
Fidelity Cash Central Fund 0.29% 0.0 
 100.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 30.6% 
   International Equity Funds 20.6% 
   Bond Funds 36.0% 
   Inflation-Protected Bond Funds 5.0% 
   Short-Term Funds 7.8% 


Percentages shown as 0.0% may reflect amounts less than 0.05%.

Fidelity Freedom® Index 2020 Fund

Schedule of Investments March 31, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 30.6%   
 Shares Value 
Fidelity Series Total Market Index Fund (a)   
(Cost $1,851,831,309) 186,833,921 1,610,508,398 
International Equity Funds - 20.6%   
Fidelity Series Global ex U.S. Index Fund (a)   
(Cost $1,232,152,357) 107,435,765 1,084,026,871 
Bond Funds - 36.0%   
Fidelity Series Bond Index Fund (a) 162,853,355 1,732,759,702 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 14,926,466 159,563,920 
TOTAL BOND FUNDS   
(Cost $1,761,654,460)  1,892,323,622 
Inflation-Protected Bond Funds - 5.0%   
Fidelity Series Inflation-Protected Bond Index Fund (a)   
(Cost $257,583,650) 26,085,229 262,939,106 
Short-Term Funds - 7.8%   
Fidelity Cash Central Fund 0.29% (b) 160 160 
Fidelity Series Treasury Bill Index Fund (a) 40,684,144 408,468,808 
TOTAL SHORT-TERM FUNDS   
(Cost $406,800,412)  408,468,968 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $5,510,022,188)  5,258,266,965 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (382,945) 
NET ASSETS - 100%  $5,257,884,020 

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 $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(a) Sales Proceeds(a) Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Fidelity Series Bond Index Fund $-- $2,061,076,542 $432,207,239 $43,590,151 $5,599,867 $98,290,532 $1,732,759,702 
Fidelity Series Global ex U.S. Index Fund 713,058,609 675,300,093 77,844,358 24,423,788 (7,919,508) (218,567,965) 1,084,026,871 
Fidelity Series Inflation-Protected Bond Index Fund 214,423,927 91,265,097 49,557,483 3,892,674 (869,695) 7,677,260 262,939,106 
Fidelity Series Long-Term Treasury Bond Index Fund 137,955,533 75,936,435 87,233,041 15,971,155 6,966,312 25,938,681 159,563,920 
Fidelity Series Total Market Index Fund -- 2,398,227,759 543,640,745 24,706,027 (2,755,706) (241,322,910) 1,610,508,398 
Fidelity Series Treasury Bill Index Fund 315,202,799 158,490,328 67,337,621 7,341,047 148,119 1,965,183 408,468,808 
Fidelity Total Market Index Fund Class F 1,671,452,164 26,928,856 1,754,387,573 7,732,418 749,801,413 (693,794,860) -- 
Fidelity U.S. Bond Index Fund Class F 1,448,324,317 13,693,663 1,458,966,574 3,196,183 (1,860,999) (1,190,407) -- 
 $4,500,417,349 $5,500,918,773 $4,471,174,634 $130,853,443 $749,109,803 $(1,021,004,486) $5,258,266,805 

 (a) Includes the value of shares purchased or redeemed through in-kind transactions, if applicable.

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $160) $160  
Other affiliated issuers (cost $5,510,022,028) 5,258,266,805  
Total Investment in Securities (cost $5,510,022,188)  $5,258,266,965 
Cash  7,845 
Receivable for investments sold  171,324,107 
Receivable for fund shares sold  8,744,687 
Total assets  5,438,343,604 
Liabilities   
Payable for investments purchased $174,221,503  
Payable for fund shares redeemed 5,847,209  
Accrued management fee 390,872  
Total liabilities  180,459,584 
Net Assets  $5,257,884,020 
Net Assets consist of:   
Paid in capital  $5,495,643,361 
Total accumulated earnings (loss)  (237,759,341) 
Net Assets  $5,257,884,020 
Net Asset Value and Maximum Offering Price   
Investor Class:   
Net Asset Value, offering price and redemption price per share ($2,544,745,868 ÷ 189,759,706 shares)  $13.41 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($2,713,138,152 ÷ 202,374,978 shares)  $13.41 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $105,755,060 
Income from Fidelity Central Funds  
Total income  105,755,065 
Expenses   
Management fee $4,314,971  
Transfer agent fees 930,151  
Independent trustees' fees and expenses 19,345  
Total expenses before reductions 5,264,467  
Expense reductions (225,463)  
Total expenses after reductions  5,039,004 
Net investment income (loss)  100,716,061 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 749,117,644  
Capital gain distributions from underlying funds:   
Affiliated issuers 25,098,383  
Total net realized gain (loss)  774,216,027 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (1,021,004,486)  
Total change in net unrealized appreciation (depreciation)  (1,021,004,486) 
Net gain (loss)  (246,788,459) 
Net increase (decrease) in net assets resulting from operations  $(146,072,398) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $100,716,061 $89,510,245 
Net realized gain (loss) 774,216,027 18,440,976 
Change in net unrealized appreciation (depreciation) (1,021,004,486) 89,536,443 
Net increase (decrease) in net assets resulting from operations (146,072,398) 197,487,664 
Distributions to shareholders (862,509,646) (98,529,776) 
Share transactions - net increase (decrease) 1,766,341,135 458,613,878 
Total increase (decrease) in net assets 757,759,091 557,571,766 
Net Assets   
Beginning of period 4,500,124,929 3,942,553,163 
End of period $5,257,884,020 $4,500,124,929 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $16.01 $15.69 $14.70 $13.65 $14.10 
Income from Investment Operations      
Net investment income (loss)A .31 .33 .29 .27 .23 
Net realized and unrealized gain (loss) (.31) .36 .99 1.04 (.42) 
Total from investment operations B .69 1.28 1.31 (.19) 
Distributions from net investment income (.30) (.32) (.27) (.25) (.26) 
Distributions from net realized gain (2.30) (.05) (.02) (.01) B 
Total distributions (2.60) (.37) (.29) (.26) (.26) 
Net asset value, end of period $13.41 $16.01 $15.69 $14.70 $13.65 
Total ReturnC (1.62)% 4.59% 8.72% 9.68% (1.34)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions .12% .15% .15% .15% .15% 
Expenses net of fee waivers, if any .12% .11% .12% .10% .08% 
Expenses net of all reductions .12% .11% .12% .10% .08% 
Net investment income (loss) 1.92% 2.12% 1.86% 1.88% 1.69% 
Supplemental Data      
Net assets, end of period (000 omitted) $2,544,746 $1,971,676 $1,638,441 $1,295,896 $1,410,489 
Portfolio turnover rateE 87% 26% 11% 20% 16% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 E Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Index 2020 Fund Institutional Premium Class

Years ended March 31, 2020 2019 2018 2017 2016 A 
Selected Per–Share Data      
Net asset value, beginning of period $16.01 $15.69 $14.70 $13.65 $14.24 
Income from Investment Operations      
Net investment income (loss)B .31 .34 .30 .27 .32 
Net realized and unrealized gain (loss) (.31) .36 .99 1.05 (.67) 
Total from investment operations C .70 1.29 1.32 (.35) 
Distributions from net investment income (.31) (.33) (.28) (.26) (.24) 
Distributions from net realized gain (2.30) (.05) (.02) (.01) C 
Total distributions (2.60)D (.38) (.30) (.27) (.24) 
Net asset value, end of period $13.41 $16.01 $15.69 $14.70 $13.65 
Total ReturnE,F (1.57)% 4.65% 8.77% 9.75% (2.42)% 
Ratios to Average Net AssetsG,H      
Expenses before reductions .08% .10% .10% .09% .05%I 
Expenses net of fee waivers, if any .08% .06% .07% .05% .02%I 
Expenses net of all reductions .08% .06% .07% .05% .02%I 
Net investment income (loss) 1.96% 2.18% 1.91% 1.93% 3.12%I 
Supplemental Data      
Net assets, end of period (000 omitted) $2,713,138 $2,528,449 $2,304,112 $1,994,180 $1,249,900 
Portfolio turnover rateH 87% 26% 11% 20% 16% 

 A For the period June 24, 2015 (commencement of sale of shares) to March 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C Amount represents less than $.005 per share.

 D Total distributions of $2.60 per share is comprised of distributions from net investment income of $.309 and distributions from net realized gain of $2.295 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Total Market Index Fund 34.6 
Fidelity Series Bond Index Fund 30.4 
Fidelity Series Global ex U.S. Index Fund 23.3 
Fidelity Series Treasury Bill Index Fund 4.5 
Fidelity Series Inflation-Protected Bond Index Fund 4.2 
Fidelity Series Long-Term Treasury Bond Index Fund 3.0 
Fidelity Cash Central Fund 0.29% 0.0 
 100.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 34.6% 
   International Equity Funds 23.3% 
   Bond Funds 33.4% 
   Inflation-Protected Bond Funds 4.2% 
   Short-Term Funds 4.5% 


Percentages shown as 0.0% may reflect amounts less than 0.05%.

Fidelity Freedom® Index 2025 Fund

Schedule of Investments March 31, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 34.6%   
 Shares Value 
Fidelity Series Total Market Index Fund (a)   
(Cost $2,559,146,061) 256,975,885 2,215,132,125 
International Equity Funds - 23.3%   
Fidelity Series Global ex U.S. Index Fund (a)   
(Cost $1,740,280,763) 147,751,333 1,490,810,954 
Bond Funds - 33.4%   
Fidelity Series Bond Index Fund (a) 183,108,817 1,948,277,810 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 18,216,981 194,739,531 
TOTAL BOND FUNDS   
(Cost $2,000,068,909)  2,143,017,341 
Inflation-Protected Bond Funds - 4.2%   
Fidelity Series Inflation-Protected Bond Index Fund (a)   
(Cost $266,675,439) 27,046,461 272,628,331 
Short-Term Funds - 4.5%   
Fidelity Cash Central Fund 0.29% (b) 121 121 
Fidelity Series Treasury Bill Index Fund (a) 28,801,509 289,167,151 
TOTAL SHORT-TERM FUNDS   
(Cost $287,978,379)  289,167,272 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $6,854,149,551)  6,410,756,023 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (468,091) 
NET ASSETS - 100%  $6,410,287,932 

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 $106 
Total $106 

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(a) Sales Proceeds(a) Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Fidelity Series Bond Index Fund $-- $2,289,787,420 $450,502,240 $45,832,133 $5,161,445 $103,831,185 $1,948,277,810 
Fidelity Series Global ex U.S. Index Fund 847,725,401 1,018,067,141 58,663,321 32,199,040 (7,745,817) (308,572,450) 1,490,810,954 
Fidelity Series Inflation-Protected Bond Index Fund 191,336,468 119,943,826 44,812,761 3,850,332 (154,231) 6,315,029 272,628,331 
Fidelity Series Long-Term Treasury Bond Index Fund 146,312,082 110,157,984 100,293,890 18,509,382 6,318,440 32,244,915 194,739,531 
Fidelity Series Total Market Index Fund -- 3,152,714,099 589,658,232 32,553,067 (3,909,806) (344,013,936) 2,215,132,125 
Fidelity Series Treasury Bill Index Fund 178,749,152 143,803,671 34,825,027 4,628,558 87,498 1,351,857 289,167,151 
Fidelity Total Market Index Fund Class F 1,988,014,399 53,017,727 2,107,976,344 9,260,137 701,188,004 (634,243,786) -- 
Fidelity U.S. Bond Index Fund Class F 1,411,184,110 27,342,296 1,435,599,777 3,135,458 1,137,257 (4,063,886) -- 
 $4,763,321,612 $6,914,834,164 $4,822,331,592 $149,968,107 $702,082,790 $(1,147,151,072) $6,410,755,902 

 (a) Includes the value of shares purchased or redeemed through in-kind transactions, if applicable.

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $121) $121  
Other affiliated issuers (cost $6,854,149,430) 6,410,755,902  
Total Investment in Securities (cost $6,854,149,551)  $6,410,756,023 
Cash  10,961 
Receivable for investments sold  207,016,882 
Receivable for fund shares sold  8,629,017 
Total assets  6,626,412,883 
Liabilities   
Payable for investments purchased $210,353,343  
Payable for fund shares redeemed 5,292,459  
Accrued management fee 479,149  
Total liabilities  216,124,951 
Net Assets  $6,410,287,932 
Net Assets consist of:   
Paid in capital  $6,839,781,989 
Total accumulated earnings (loss)  (429,494,057) 
Net Assets  $6,410,287,932 
Net Asset Value and Maximum Offering Price   
Investor Class:   
Net Asset Value, offering price and redemption price per share ($3,443,935,785 ÷ 236,445,201 shares)  $14.57 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($2,966,352,147 ÷ 203,603,349 shares)  $14.57 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $120,781,921 
Income from Fidelity Central Funds  106 
Total income  120,782,027 
Expenses   
Management fee $5,062,025  
Transfer agent fees 1,021,123  
Independent trustees' fees and expenses 21,680  
Total expenses before reductions 6,104,828  
Expense reductions (240,195)  
Total expenses after reductions  5,864,633 
Net investment income (loss)  114,917,394 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 702,093,646  
Capital gain distributions from underlying funds:   
Affiliated issuers 29,186,186  
Total net realized gain (loss)  731,279,832 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (1,147,151,072)  
Total change in net unrealized appreciation (depreciation)  (1,147,151,072) 
Net gain (loss)  (415,871,240) 
Net increase (decrease) in net assets resulting from operations  $(300,953,846) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $114,917,394 $89,107,725 
Net realized gain (loss) 731,279,832 4,986,619 
Change in net unrealized appreciation (depreciation) (1,147,151,072) 112,586,973 
Net increase (decrease) in net assets resulting from operations (300,953,846) 206,681,317 
Distributions to shareholders (827,608,471) (91,659,489) 
Share transactions - net increase (decrease) 2,775,845,410 1,030,551,053 
Total increase (decrease) in net assets 1,647,283,093 1,145,572,881 
Net Assets   
Beginning of period 4,763,004,839 3,617,431,958 
End of period $6,410,287,932 $4,763,004,839 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $17.05 $16.67 $15.50 $14.27 $14.80 
Income from Investment Operations      
Net investment income (loss)A .33 .36 .31 .29 .27 
Net realized and unrealized gain (loss) (.54) .38 1.17 1.22 (.52) 
Total from investment operations (.21) .74 1.48 1.51 (.25) 
Distributions from net investment income (.31) (.34) (.29) (.27) (.27) 
Distributions from net realized gain (1.96) (.03) (.02) (.01) B 
Total distributions (2.27) (.36)C (.31) (.28) (.28)D 
Net asset value, end of period $14.57 $17.05 $16.67 $15.50 $14.27 
Total ReturnE (2.75)% 4.64% 9.53% 10.67% (1.72)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .12% .15% .15% .15% .15% 
Expenses net of fee waivers, if any .12% .11% .12% .10% .08% 
Expenses net of all reductions .12% .11% .12% .10% .08% 
Net investment income (loss) 1.93% 2.13% 1.91% 1.97% 1.84% 
Supplemental Data      
Net assets, end of period (000 omitted) $3,443,936 $2,382,206 $1,761,022 $1,227,802 $1,179,785 
Portfolio turnover rateG 82% 19% 9% 18% 17% 

 A Calculated based on average shares outstanding during the period.

 B Amount represents less than $.005 per share.

 C Total distributions of $.36 per share is comprised of distributions from net investment income of $.027 and distributions from net realized gain of $.335 per share.

 D Total distributions of $.28 per share is comprised of distributions from net investment income of $.272 and distributions from net realized gain of $.003 per share.

 E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 G Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Index 2025 Fund Institutional Premium Class

Years ended March 31, 2020 2019 2018 2017 2016 A 
Selected Per–Share Data      
Net asset value, beginning of period $17.05 $16.67 $15.50 $14.27 $15.00 
Income from Investment Operations      
Net investment income (loss)B .34 .37 .32 .30 .33 
Net realized and unrealized gain (loss) (.54) .38 1.17 1.22 (.79) 
Total from investment operations (.20) .75 1.49 1.52 (.46) 
Distributions from net investment income (.32) (.34) (.30) (.28) (.27) 
Distributions from net realized gain (1.96) (.03) (.02) (.01) C 
Total distributions (2.28) (.37) (.32) (.29) (.27) 
Net asset value, end of period $14.57 $17.05 $16.67 $15.50 $14.27 
Total ReturnD,E (2.71)% 4.70% 9.58% 10.74% (3.07)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .08% .10% .10% .09% .05%H 
Expenses net of fee waivers, if any .08% .05% .07% .05% .02%H 
Expenses net of all reductions .08% .05% .07% .05% .02%H 
Net investment income (loss) 1.97% 2.19% 1.96% 2.02% 3.08%H 
Supplemental Data      
Net assets, end of period (000 omitted) $2,966,352 $2,380,799 $1,856,410 $1,456,538 $792,922 
Portfolio turnover rateG 82% 19% 9% 18% 17% 

 A For the period June 24, 2015 (commencement of sale of shares) to March 31, 2016.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Total Market Index Fund 40.1 
Fidelity Series Global ex U.S. Index Fund 27.0 
Fidelity Series Bond Index Fund 26.8 
Fidelity Series Inflation-Protected Bond Index Fund 3.1 
Fidelity Series Long-Term Treasury Bond Index Fund 3.0 
Fidelity Cash Central Fund 0.29% 0.0 
 100.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 40.1% 
   International Equity Funds 27.0% 
   Bond Funds 29.8% 
   Inflation-Protected Bond Funds 3.1% 


Percentages shown as 0.0% may reflect amounts less than 0.05%.

Fidelity Freedom® Index 2030 Fund

Schedule of Investments March 31, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 40.1%   
 Shares Value 
Fidelity Series Total Market Index Fund (a)   
(Cost $3,478,680,819) 348,560,863 3,004,594,636 
International Equity Funds - 27.0%   
Fidelity Series Global ex U.S. Index Fund (a)   
(Cost $2,372,412,419) 200,435,512 2,022,394,320 
Bond Funds - 29.8%   
Fidelity Series Bond Index Fund (a) 188,597,608 2,006,678,546 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 21,390,970 228,669,467 
TOTAL BOND FUNDS   
(Cost $2,082,100,095)  2,235,348,013 
Inflation-Protected Bond Funds - 3.1%   
Fidelity Series Inflation-Protected Bond Index Fund (a)   
(Cost $229,695,029) 23,136,833 233,219,272 
Short-Term Funds - 0.0%   
Fidelity Cash Central Fund 0.29% (b)   
(Cost $157) 157 157 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $8,162,888,519)  7,495,556,398 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (513,393) 
NET ASSETS - 100%  $7,495,043,005 

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 $23 
Total $23 

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(a) Sales Proceeds(a) Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Fidelity Series Bond Index Fund $-- $2,381,103,334 $488,050,654 $47,401,997 $6,505,810 $107,120,056 $2,006,678,546 
Fidelity Series Global ex U.S. Index Fund 1,220,284,176 1,300,954,569 65,184,577 44,727,042 (5,732,438) (427,927,410) 2,022,394,320 
Fidelity Series Inflation-Protected Bond Index Fund 73,250,907 164,967,608 7,569,206 2,631,927 (115,791) 2,685,754 233,219,272 
Fidelity Series Long-Term Treasury Bond Index Fund 178,089,695 127,154,560 122,847,149 22,107,987 8,569,262 37,703,099 228,669,467 
Fidelity Series Total Market Index Fund -- 4,293,899,516 814,377,285 45,280,099 (841,411) (474,086,184) 3,004,594,636 
Fidelity Total Market Index Fund Class F 2,855,473,703 65,833,276 3,017,352,960 13,289,740 1,008,806,272 (912,760,291) -- 
Fidelity U.S. Bond Index Fund Class F 1,443,318,609 25,926,231 1,466,234,111 3,206,973 4,106,510 (7,117,239) -- 
 $5,770,417,090 $8,359,839,094 $5,981,615,942 $178,645,765 $1,021,298,214 $(1,674,382,215) $7,495,556,241 

 (a) Includes the value of shares purchased or redeemed through in-kind transactions, if applicable.

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $157) $157  
Other affiliated issuers (cost $8,162,888,362) 7,495,556,241  
Total Investment in Securities (cost $8,162,888,519)  $7,495,556,398 
Cash  15,942 
Receivable for investments sold  212,222,393 
Receivable for fund shares sold  9,214,037 
Total assets  7,717,008,770 
Liabilities   
Payable for investments purchased $212,842,700  
Payable for fund shares redeemed 8,593,613  
Accrued management fee 529,452  
Total liabilities  221,965,765 
Net Assets  $7,495,043,005 
Net Assets consist of:   
Paid in capital  $8,141,054,648 
Total accumulated earnings (loss)  (646,011,643) 
Net Assets  $7,495,043,005 
Net Asset Value and Maximum Offering Price   
Investor Class:   
Net Asset Value, offering price and redemption price per share ($3,610,892,245 ÷ 245,146,825 shares)  $14.73 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($3,884,150,760 ÷ 263,653,992 shares)  $14.73 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $143,819,401 
Income from Fidelity Central Funds  23 
Total income  143,819,424 
Expenses   
Management fee $5,881,044  
Transfer agent fees 1,205,615  
Independent trustees' fees and expenses 26,060  
Total expenses before reductions 7,112,719  
Expense reductions (306,174)  
Total expenses after reductions  6,806,545 
Net investment income (loss)  137,012,879 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 1,021,314,134  
Capital gain distributions from underlying funds:   
Affiliated issuers 34,826,364  
Total net realized gain (loss)  1,056,140,498 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (1,674,382,215)  
Total change in net unrealized appreciation (depreciation)  (1,674,382,215) 
Net gain (loss)  (618,241,717) 
Net increase (decrease) in net assets resulting from operations  $(481,228,838) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $137,012,879 $109,387,499 
Net realized gain (loss) 1,056,140,498 4,016,749 
Change in net unrealized appreciation (depreciation) (1,674,382,215) 141,239,142 
Net increase (decrease) in net assets resulting from operations (481,228,838) 254,643,390 
Distributions to shareholders (1,169,499,813) (109,066,308) 
Share transactions - net increase (decrease) 3,375,705,070 1,124,986,747 
Total increase (decrease) in net assets 1,724,976,419 1,270,563,829 
Net Assets   
Beginning of period 5,770,066,586 4,499,502,757 
End of period $7,495,043,005 $5,770,066,586 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $17.99 $17.57 $16.07 $14.49 $15.15 
Income from Investment Operations      
Net investment income (loss)A .34 .38 .33 .31 .26 
Net realized and unrealized gain (loss) (.74) .41 1.50 1.57 (.63) 
Total from investment operations (.40) .79 1.83 1.88 (.37) 
Distributions from net investment income (.33) (.36) (.31) (.29) (.29) 
Distributions from net realized gain (2.53) (.01) (.01) (.01) B 
Total distributions (2.86) (.37) (.33)C (.30) (.29) 
Net asset value, end of period $14.73 $17.99 $17.57 $16.07 $14.49 
Total ReturnD (4.38)% 4.71% 11.35% 13.07% (2.44)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .12% .15% .15% .15% .15% 
Expenses net of fee waivers, if any .12% .11% .12% .10% .08% 
Expenses net of all reductions .12% .11% .12% .10% .08% 
Net investment income (loss) 1.92% 2.14% 1.92% 2.03% 1.75% 
Supplemental Data      
Net assets, end of period (000 omitted) $3,610,892 $2,500,479 $1,856,566 $1,333,880 $1,315,200 
Portfolio turnover rateF 85% 14% 9% 13% 13% 

 A Calculated based on average shares outstanding during the period.

 B Amount represents less than $.005 per share.

 C Total distributions of $.33 per share is comprised of distributions from net investment income of $.311 and distributions from net realized gain of $.014 per share.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 F Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Index 2030 Fund Institutional Premium Class

Years ended March 31, 2020 2019 2018 2017 2016 A 
Selected Per–Share Data      
Net asset value, beginning of period $18.00 $17.57 $16.07 $14.49 $15.44 
Income from Investment Operations      
Net investment income (loss)B .35 .39 .34 .32 .38 
Net realized and unrealized gain (loss) (.75) .42 1.49 1.57 (1.04) 
Total from investment operations (.40) .81 1.83 1.89 (.66) 
Distributions from net investment income (.34) (.37) (.32) (.30) (.29) 
Distributions from net realized gain (2.53) (.01) (.01) (.01) C 
Total distributions (2.87) (.38) (.33) (.31) (.29) 
Net asset value, end of period $14.73 $18.00 $17.57 $16.07 $14.49 
Total ReturnD,E (4.40)% 4.82% 11.39% 13.13% (4.28)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .08% .10% .10% .09% .05%H 
Expenses net of fee waivers, if any .08% .05% .07% .05% .02%H 
Expenses net of all reductions .08% .05% .07% .05% .02%H 
Net investment income (loss) 1.96% 2.20% 1.97% 2.08% 3.54%H 
Supplemental Data      
Net assets, end of period (000 omitted) $3,884,151 $3,269,588 $2,642,936 $2,025,502 $1,165,165 
Portfolio turnover rateG 85% 14% 9% 13% 13% 

 A For the period June 24, 2015 (commencement of sale of shares) to March 31, 2016.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Total Market Index Fund 48.9 
Fidelity Series Global ex U.S. Index Fund 33.0 
Fidelity Series Bond Index Fund 15.0 
Fidelity Series Long-Term Treasury Bond Index Fund 3.1 
Fidelity Cash Central Fund 0.29% 0.0 
 100.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 48.9% 
   International Equity Funds 33.0% 
   Bond Funds 18.1% 


Percentages shown as 0.0% may reflect amounts less than 0.05%.

Fidelity Freedom® Index 2035 Fund

Schedule of Investments March 31, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 48.9%   
 Shares Value 
Fidelity Series Total Market Index Fund (a)   
(Cost $3,044,982,995) 304,130,423 2,621,604,249 
International Equity Funds - 33.0%   
Fidelity Series Global ex U.S. Index Fund (a)   
(Cost $2,098,380,520) 175,059,498 1,766,350,334 
Bond Funds - 18.1%   
Fidelity Series Bond Index Fund (a) 75,628,050 804,682,448 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 15,413,587 164,771,244 
TOTAL BOND FUNDS   
(Cost $896,065,164)  969,453,692 
Short-Term Funds - 0.0%   
Fidelity Cash Central Fund 0.29% (b)   
(Cost $53) 53 53 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $6,039,428,732)  5,357,408,328 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (357,744) 
NET ASSETS - 100%  $5,357,050,584 

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 $81 
Total $81 

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(a) Sales Proceeds(a) Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Fidelity Series Bond Index Fund $-- $956,273,768 $194,380,643 $17,955,265 $2,483,777 $40,305,546 $804,682,448 
Fidelity Series Global ex U.S. Index Fund 1,017,909,745 1,194,488,154 58,858,003 39,525,893 (2,835,701) (384,353,861) 1,766,350,334 
Fidelity Series Long-Term Treasury Bond Index Fund 123,408,346 107,059,183 99,076,254 16,029,915 6,195,882 27,184,087 164,771,244 
Fidelity Series Total Market Index Fund -- 3,694,265,976 646,756,422 40,034,601 (2,526,561) (423,378,744) 2,621,604,249 
Fidelity Total Market Index Fund Class F 2,382,058,169 59,829,667 2,522,058,867 11,097,558 716,663,994 (636,492,963) -- 
Fidelity U.S. Bond Index Fund Class F 495,055,418 9,902,689 503,929,068 1,100,652 2,071,619 (3,100,658) -- 
 $4,018,431,678 $6,021,819,437 $4,025,059,257 $125,743,884 $722,053,010 $(1,379,836,593) $5,357,408,275 

 (a) Includes the value of shares purchased or redeemed through in-kind transactions, if applicable.

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $53) $53  
Other affiliated issuers (cost $6,039,428,679) 5,357,408,275  
Total Investment in Securities (cost $6,039,428,732)  $5,357,408,328 
Cash  13,357 
Receivable for investments sold  105,314,979 
Receivable for fund shares sold  7,610,933 
Total assets  5,470,347,597 
Liabilities   
Payable for investments purchased $109,130,721  
Payable for fund shares redeemed 3,795,106  
Accrued management fee 371,186  
Total liabilities  113,297,013 
Net Assets  $5,357,050,584 
Net Assets consist of:   
Paid in capital  $6,033,744,875 
Total accumulated earnings (loss)  (676,694,291) 
Net Assets  $5,357,050,584 
Net Asset Value and Maximum Offering Price   
Investor Class:   
Net Asset Value, offering price and redemption price per share ($2,844,302,491 ÷ 187,087,505 shares)  $15.20 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($2,512,748,093 ÷ 165,213,530 shares)  $15.21 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $100,877,388 
Income from Fidelity Central Funds  81 
Total income  100,877,469 
Expenses   
Management fee $4,305,414  
Transfer agent fees 862,996  
Independent trustees' fees and expenses 18,580  
Total expenses before reductions 5,186,990  
Expense reductions (212,430)  
Total expenses after reductions  4,974,560 
Net investment income (loss)  95,902,909 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 722,066,286  
Capital gain distributions from underlying funds:   
Affiliated issuers 24,866,496  
Total net realized gain (loss)  746,932,782 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (1,379,836,593)  
Total change in net unrealized appreciation (depreciation)  (1,379,836,593) 
Net gain (loss)  (632,903,811) 
Net increase (decrease) in net assets resulting from operations  $(537,000,902) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $95,902,909 $71,499,617 
Net realized gain (loss) 746,932,782 558,854 
Change in net unrealized appreciation (depreciation) (1,379,836,593) 100,533,319 
Net increase (decrease) in net assets resulting from operations (537,000,902) 172,591,790 
Distributions to shareholders (832,182,362) (71,688,773) 
Share transactions - net increase (decrease) 2,708,059,203 1,003,843,494 
Total increase (decrease) in net assets 1,338,875,939 1,104,746,511 
Net Assets   
Beginning of period 4,018,174,645 2,913,428,134 
End of period $5,357,050,584 $4,018,174,645 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $19.07 $18.63 $16.79 $14.91 $15.67 
Income from Investment Operations      
Net investment income (loss)A .36 .39 .34 .32 .27 
Net realized and unrealized gain (loss) (1.26) .43 1.84 1.87 (.73) 
Total from investment operations (.90) .82 2.18 2.19 (.46) 
Distributions from net investment income (.33) (.37) (.32) (.30) (.30) 
Distributions from net realized gain (2.64) (.01) (.02) (.01) B 
Total distributions (2.97) (.38) (.34) (.31) (.30) 
Net asset value, end of period $15.20 $19.07 $18.63 $16.79 $14.91 
Total ReturnC (7.39)% 4.63% 12.96% 14.81% (2.93)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions .12% .15% .15% .15% .15% 
Expenses net of fee waivers, if any .12% .11% .12% .10% .08% 
Expenses net of all reductions .12% .11% .12% .10% .08% 
Net investment income (loss) 1.87% 2.08% 1.89% 2.02% 1.79% 
Supplemental Data      
Net assets, end of period (000 omitted) $2,844,302 $2,003,135 $1,390,826 $936,458 $880,845 
Portfolio turnover rateE 80% 10% 7% 13% 11% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 E Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Index 2035 Fund Institutional Premium Class

Years ended March 31, 2020 2019 2018 2017 2016 A 
Selected Per–Share Data      
Net asset value, beginning of period $19.08 $18.64 $16.80 $14.92 $16.03 
Income from Investment Operations      
Net investment income (loss)B .37 .40 .35 .33 .39 
Net realized and unrealized gain (loss) (1.26) .43 1.84 1.87 (1.20) 
Total from investment operations (.89) .83 2.19 2.20 (.81) 
Distributions from net investment income (.34) (.38) (.33) (.31) (.30) 
Distributions from net realized gain (2.64) (.01) (.02) (.01) C 
Total distributions (2.98) (.39) (.35) (.32) (.30) 
Net asset value, end of period $15.21 $19.08 $18.64 $16.80 $14.92 
Total ReturnD,E (7.33)% 4.69% 13.00% 14.87% (5.04)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .08% .10% .10% .09% .05%H 
Expenses net of fee waivers, if any .08% .05% .07% .05% .01%H 
Expenses net of all reductions .08% .05% .07% .05% .01%H 
Net investment income (loss) 1.92% 2.14% 1.94% 2.07% 3.53%H 
Supplemental Data      
Net assets, end of period (000 omitted) $2,512,748 $2,015,039 $1,522,603 $1,130,096 $581,231 
Portfolio turnover rateG 80% 10% 7% 13% 11% 

 A For the period June 24, 2015 (commencement of sale of shares) to March 31, 2016.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Total Market Index Fund 53.6 
Fidelity Series Global ex U.S. Index Fund 36.1 
Fidelity Series Bond Index Fund 7.2 
Fidelity Series Long-Term Treasury Bond Index Fund 3.1 
Fidelity Cash Central Fund 0.29% 0.0 
 100.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 53.6% 
   International Equity Funds 36.1% 
   Bond Funds 10.3% 


Percentages shown as 0.0% may reflect amounts less than 0.05%.

Fidelity Freedom® Index 2040 Fund

Schedule of Investments March 31, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 53.6%   
 Shares Value 
Fidelity Series Total Market Index Fund (a)   
(Cost $3,285,262,951) 327,652,236 2,824,362,277 
International Equity Funds - 36.1%   
Fidelity Series Global ex U.S. Index Fund (a)   
(Cost $2,258,641,848) 188,566,881 1,902,639,827 
Bond Funds - 10.3%   
Fidelity Series Bond Index Fund (a) 35,498,716 377,706,341 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 15,175,949 162,230,894 
TOTAL BOND FUNDS   
(Cost $486,692,281)  539,937,235 
Short-Term Funds - 0.0%   
Fidelity Cash Central Fund 0.29% (b)   
(Cost $58) 58 58 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $6,030,597,138)  5,266,939,397 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (327,282) 
NET ASSETS - 100%  $5,266,612,115 

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 $28 
Total $28 

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(a) Sales Proceeds(a) Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Fidelity Series Bond Index Fund $-- $487,486,508 $132,448,057 $9,351,838 $1,980,602 $20,687,288 $377,706,341 
Fidelity Series Global ex U.S. Index Fund 1,114,129,989 1,262,481,754 55,863,441 42,842,264 (1,285,085) (416,823,390) 1,902,639,827 
Fidelity Series Long-Term Treasury Bond Index Fund 125,679,631 108,614,960 105,806,008 16,089,313 7,110,733 26,631,578 162,230,894 
Fidelity Series Total Market Index Fund -- 3,880,634,456 594,879,861 43,461,612 (491,644) (460,900,674) 2,824,362,277 
Fidelity Total Market Index Fund Class F 2,605,710,296 61,756,840 2,755,146,454 12,134,341 813,831,679 (726,152,361) -- 
Fidelity U.S. Bond Index Fund Class F 290,996,773 5,385,436 295,775,227 646,982 489,793 (1,096,775) -- 
 $4,136,516,689 $5,806,359,954 $3,939,919,048 $124,526,350 $821,636,078 $(1,557,654,334) $5,266,939,339 

 (a) Includes the value of shares purchased or redeemed through in-kind transactions, if applicable.

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $58) $58  
Other affiliated issuers (cost $6,030,597,080) 5,266,939,339  
Total Investment in Securities (cost $6,030,597,138)  $5,266,939,397 
Cash  14,257 
Receivable for investments sold  76,325,457 
Receivable for fund shares sold  8,989,446 
Total assets  5,352,268,557 
Liabilities   
Payable for investments purchased $80,612,906  
Payable for fund shares redeemed 4,701,911  
Accrued management fee 341,625  
Total liabilities  85,656,442 
Net Assets  $5,266,612,115 
Net Assets consist of:   
Paid in capital  $6,025,385,619 
Total accumulated earnings (loss)  (758,773,504) 
Net Assets  $5,266,612,115 
Net Asset Value and Maximum Offering Price   
Investor Class:   
Net Asset Value, offering price and redemption price per share ($2,405,076,920 ÷ 162,844,496 shares)  $14.77 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($2,861,535,195 ÷ 193,792,748 shares)  $14.77 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $99,057,209 
Income from Fidelity Central Funds  28 
Total income  99,057,237 
Expenses   
Management fee $4,178,892  
Transfer agent fees 861,819  
Independent trustees' fees and expenses 18,850  
Total expenses before reductions 5,059,561  
Expense reductions (226,432)  
Total expenses after reductions  4,833,129 
Net investment income (loss)  94,224,108 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 821,650,307  
Capital gain distributions from underlying funds:   
Affiliated issuers 25,469,141  
Total net realized gain (loss)  847,119,448 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (1,557,654,334)  
Total change in net unrealized appreciation (depreciation)  (1,557,654,334) 
Net gain (loss)  (710,534,886) 
Net increase (decrease) in net assets resulting from operations  $(616,310,778) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $94,224,108 $74,829,098 
Net realized gain (loss) 847,119,448 (1,090,576) 
Change in net unrealized appreciation (depreciation) (1,557,654,334) 100,356,874 
Net increase (decrease) in net assets resulting from operations (616,310,778) 174,095,396 
Distributions to shareholders (928,689,470) (76,331,747) 
Share transactions - net increase (decrease) 2,675,344,924 827,283,554 
Total increase (decrease) in net assets 1,130,344,676 925,047,203 
Net Assets   
Beginning of period 4,136,267,439 3,211,220,236 
End of period $5,266,612,115 $4,136,267,439 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $19.19 $18.77 $16.90 $15.00 $15.76 
Income from Investment Operations      
Net investment income (loss)A .35 .39 .34 .32 .26 
Net realized and unrealized gain (loss) (1.43) .42 1.87 1.90 (.72) 
Total from investment operations (1.08) .81 2.21 2.22 (.46) 
Distributions from net investment income (.33) (.38) (.33) (.31) (.30) 
Distributions from net realized gain (3.00) (.01) (.02) (.01) B 
Total distributions (3.34)C (.39) (.34)D (.32) (.30) 
Net asset value, end of period $14.77 $19.19 $18.77 $16.90 $15.00 
Total ReturnE (8.93)% 4.56% 13.08% 14.90% (2.91)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .12% .15% .15% .15% .15% 
Expenses net of fee waivers, if any .12% .11% .12% .10% .08% 
Expenses net of all reductions .12% .11% .12% .10% .08% 
Net investment income (loss) 1.82% 2.06% 1.87% 2.02% 1.70% 
Supplemental Data      
Net assets, end of period (000 omitted) $2,405,077 $1,731,927 $1,281,722 $900,067 $910,880 
Portfolio turnover rateG 78% 10% 6% 13% 9% 

 A Calculated based on average shares outstanding during the period.

 B Amount represents less than $.005 per share.

 C Total distributions of $3.34 per share is comprised of distributions from net investment income of $.333 and distributions from net realized gain of $3.004 per share.

 D Total distributions of $.34 per share is comprised of distributions from net investment income of $.327 and distributions from net realized gain of $.017 per share.

 E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 G Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Index 2040 Fund Institutional Premium Class

Years ended March 31, 2020 2019 2018 2017 2016 A 
Selected Per–Share Data      
Net asset value, beginning of period $19.19 $18.77 $16.89 $15.00 $16.12 
Income from Investment Operations      
Net investment income (loss)B .36 .40 .35 .33 .41 
Net realized and unrealized gain (loss) (1.43) .42 1.88 1.89 (1.22) 
Total from investment operations (1.07) .82 2.23 2.22 (.81) 
Distributions from net investment income (.34) (.39) (.34) (.32) (.30) 
Distributions from net realized gain (3.00) (.01) (.02) (.01) C 
Total distributions (3.35)D (.40) (.35)E (.33) (.31)F 
Net asset value, end of period $14.77 $19.19 $18.77 $16.89 $15.00 
Total ReturnG,H (8.89)% 4.61% 13.20% 14.90% (5.06)% 
Ratios to Average Net AssetsI,J      
Expenses before reductions .08% .10% .10% .09% .05%K 
Expenses net of fee waivers, if any .08% .05% .07% .05% .01%K 
Expenses net of all reductions .08% .05% .07% .05% .01%K 
Net investment income (loss) 1.86% 2.12% 1.92% 2.07% 3.69%K 
Supplemental Data      
Net assets, end of period (000 omitted) $2,861,535 $2,404,340 $1,929,498 $1,438,010 $830,093 
Portfolio turnover rateJ 78% 10% 6% 13% 9% 

 A For the period June 24, 2015 (commencement of sale of shares) to March 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C Amount represents less than $.005 per share.

 D Total distributions of $3.35 per share is comprised of distributions from net investment income of $.341 and distributions from net realized gain of $3.004 per share.

 E Total distributions of $.35 per share is comprised of distributions from net investment income of $.335 and distributions from net realized gain of $.017 per share.

 F Total distributions of $.31 per share is comprised of distributions from net investment income of $.309 and distributions from net realized gain of $.003 per share.

 G Total returns for periods of less than one year are not annualized.

 H Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 I Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 J Amounts do not include the activity of Underlying Funds.

 K Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Total Market Index Fund 53.6 
Fidelity Series Global ex U.S. Index Fund 36.1 
Fidelity Series Bond Index Fund 7.2 
Fidelity Series Long-Term Treasury Bond Index Fund 3.1 
Fidelity Cash Central Fund 0.29% 0.0 
 100.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 53.6% 
   International Equity Funds 36.1% 
   Bond Funds 10.3% 


Percentages shown as 0.0% may reflect amounts less than 0.05%.

Fidelity Freedom® Index 2045 Fund

Schedule of Investments March 31, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 53.6%   
 Shares Value 
Fidelity Series Total Market Index Fund (a)   
(Cost $2,308,300,355) 230,217,657 1,984,476,206 
International Equity Funds - 36.1%   
Fidelity Series Global ex U.S. Index Fund (a)   
(Cost $1,595,116,509) 132,491,978 1,336,844,056 
Bond Funds - 10.3%   
Fidelity Series Bond Index Fund (a) 24,941,887 265,381,678 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 10,662,825 113,985,596 
TOTAL BOND FUNDS   
(Cost $342,585,011)  379,367,274 
Short-Term Funds - 0.0%   
Fidelity Cash Central Fund 0.29% (b)   
(Cost $16) 16 16 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $4,246,001,891)  3,700,687,552 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (233,498) 
NET ASSETS - 100%  $3,700,454,054 

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 $80 
Total $80 

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(a) Sales Proceeds(a) Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Fidelity Series Bond Index Fund $-- $340,895,899 $90,701,323 $6,324,047 $1,196,641 $13,990,461 $265,381,678 
Fidelity Series Global ex U.S. Index Fund 724,592,198 950,088,606 46,447,848 29,568,560 227,549 (291,616,449) 1,336,844,056 
Fidelity Series Long-Term Treasury Bond Index Fund 81,736,319 81,950,893 72,484,623 11,046,478 3,872,240 18,910,767 113,985,596 
Fidelity Series Total Market Index Fund -- 2,729,139,841 421,869,704 29,995,685 1,030,218 (323,824,149) 1,984,476,206 
Fidelity Total Market Index Fund Class F 1,694,661,859 47,502,518 1,799,323,277 7,920,628 460,424,275 (403,265,375) -- 
Fidelity U.S. Bond Index Fund Class F 189,252,294 4,299,458 193,158,993 422,281 245,236 (637,995) -- 
 $2,690,242,670 $4,153,877,215 $2,623,985,768 $85,277,679 $466,996,159 $(986,442,740) $3,700,687,536 

 (a) Includes the value of shares purchased or redeemed through in-kind transactions, if applicable.

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $16) $16  
Other affiliated issuers (cost $4,246,001,875) 3,700,687,536  
Total Investment in Securities (cost $4,246,001,891)  $3,700,687,552 
Cash  9,856 
Receivable for investments sold  53,568,355 
Receivable for fund shares sold  6,625,707 
Total assets  3,760,891,470 
Liabilities   
Payable for investments purchased $57,551,346  
Payable for fund shares redeemed 2,642,658  
Accrued management fee 243,412  
Total liabilities  60,437,416 
Net Assets  $3,700,454,054 
Net Assets consist of:   
Paid in capital  $4,240,474,572 
Total accumulated earnings (loss)  (540,020,518) 
Net Assets  $3,700,454,054 
Net Asset Value and Maximum Offering Price   
Investor Class:   
Net Asset Value, offering price and redemption price per share ($1,810,294,346 ÷ 118,229,328 shares)  $15.31 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($1,890,159,708 ÷ 123,405,038 shares)  $15.32 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $67,853,198 
Income from Fidelity Central Funds  80 
Total income  67,853,278 
Expenses   
Management fee $2,882,810  
Transfer agent fees 570,458  
Independent trustees' fees and expenses 12,612  
Total expenses before reductions 3,465,880  
Expense reductions (145,020)  
Total expenses after reductions  3,320,860 
Net investment income (loss)  64,532,418 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 467,005,936  
Capital gain distributions from underlying funds:   
Affiliated issuers 17,424,481  
Total net realized gain (loss)  484,430,417 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (986,442,740)  
Total change in net unrealized appreciation (depreciation)  (986,442,740) 
Net gain (loss)  (502,012,323) 
Net increase (decrease) in net assets resulting from operations  $(437,479,905) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $64,532,418 $46,867,991 
Net realized gain (loss) 484,430,417 (1,593,500) 
Change in net unrealized appreciation (depreciation) (986,442,740) 67,996,700 
Net increase (decrease) in net assets resulting from operations (437,479,905) 113,271,191 
Distributions to shareholders (537,813,779) (48,855,589) 
Share transactions - net increase (decrease) 1,985,672,707 690,437,422 
Total increase (decrease) in net assets 1,010,379,023 754,853,024 
Net Assets   
Beginning of period 2,690,075,031 1,935,222,007 
End of period $3,700,454,054 $2,690,075,031 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $19.33 $18.91 $17.04 $15.13 $15.89 
Income from Investment Operations      
Net investment income (loss)A .36 .39 .35 .33 .28 
Net realized and unrealized gain (loss) (1.56) .43 1.88 1.90 (.74) 
Total from investment operations (1.20) .82 2.23 2.23 (.46) 
Distributions from net investment income (.33) (.38) (.33) (.31) (.30) 
Distributions from net realized gain (2.49) (.02) (.03) (.01) B 
Total distributions (2.82) (.40) (.36) (.32) (.30) 
Net asset value, end of period $15.31 $19.33 $18.91 $17.04 $15.13 
Total ReturnC (8.96)% 4.58% 13.08% 14.87% (2.88)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions .12% .15% .15% .15% .15% 
Expenses net of fee waivers, if any .12% .11% .12% .10% .08% 
Expenses net of all reductions .12% .11% .12% .10% .08% 
Net investment income (loss) 1.85% 2.06% 1.89% 2.04% 1.79% 
Supplemental Data      
Net assets, end of period (000 omitted) $1,810,294 $1,244,020 $872,779 $583,893 $542,581 
Portfolio turnover rateE 77% 10% 6% 15% 8% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 E Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Index 2045 Fund Institutional Premium Class

Years ended March 31, 2020 2019 2018 2017 2016 A 
Selected Per–Share Data      
Net asset value, beginning of period $19.33 $18.92 $17.04 $15.13 $16.26 
Income from Investment Operations      
Net investment income (loss)B .37 .40 .36 .34 .40 
Net realized and unrealized gain (loss) (1.55) .42 1.89 1.90 (1.22) 
Total from investment operations (1.18) .82 2.25 2.24 (.82) 
Distributions from net investment income (.34) (.39) (.34) (.32) (.30) 
Distributions from net realized gain (2.49) (.02) (.03) (.01) C 
Total distributions (2.83) (.41) (.37) (.33) (.31)D 
Net asset value, end of period $15.32 $19.33 $18.92 $17.04 $15.13 
Total ReturnE,F (8.88)% 4.58% 13.20% 14.94% (5.08)% 
Ratios to Average Net AssetsG,H      
Expenses before reductions .08% .10% .10% .09% .05%I 
Expenses net of fee waivers, if any .08% .05% .07% .05% .01%I 
Expenses net of all reductions .08% .05% .07% .05% .01%I 
Net investment income (loss) 1.89% 2.11% 1.94% 2.09% 3.56%I 
Supplemental Data      
Net assets, end of period (000 omitted) $1,890,160 $1,446,055 $1,062,443 $743,645 $386,977 
Portfolio turnover rateH 77% 10% 6% 15% 8% 

 A For the period June 24, 2015 (commencement of sale of shares) to March 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C Amount represents less than $.005 per share.

 D Total distributions of $.31 per share is comprised of distributions from net investment income of $.303 and distributions from net realized gain of $.003 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Total Market Index Fund 53.6 
Fidelity Series Global ex U.S. Index Fund 36.1 
Fidelity Series Bond Index Fund 7.2 
Fidelity Series Long-Term Treasury Bond Index Fund 3.1 
Fidelity Cash Central Fund 0.29% 0.0 
 100.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 53.6% 
   International Equity Funds 36.1% 
   Bond Funds 10.3% 


Percentages shown as 0.0% may reflect amounts less than 0.05%.

Fidelity Freedom® Index 2050 Fund

Schedule of Investments March 31, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 53.6%   
 Shares Value 
Fidelity Series Total Market Index Fund (a)   
(Cost $2,085,643,273) 207,805,063 1,791,279,644 
International Equity Funds - 36.1%   
Fidelity Series Global ex U.S. Index Fund (a)   
(Cost $1,439,417,653) 119,592,806 1,206,691,413 
Bond Funds - 10.3%   
Fidelity Series Bond Index Fund (a) 22,513,297 239,541,482 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 9,624,584 102,886,807 
TOTAL BOND FUNDS   
(Cost $309,300,033)  342,428,289 
Short-Term Funds - 0.0%   
Fidelity Cash Central Fund 0.29% (b)   
(Cost $18) 18 18 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $3,834,360,977)  3,340,399,364 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (207,315) 
NET ASSETS - 100%  $3,340,192,049 

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 $20 
Total $20 

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(a) Sales Proceeds(a) Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Fidelity Series Bond Index Fund $-- $307,735,988 $81,869,709 $5,679,588 $1,082,226 $12,592,977 $239,541,482 
Fidelity Series Global ex U.S. Index Fund 653,494,014 858,355,519 42,099,315 26,487,300 715,381 (263,774,186) 1,206,691,413 
Fidelity Series Long-Term Treasury Bond Index Fund 73,715,553 73,900,668 65,302,717 9,893,567 3,532,668 17,040,635 102,886,807 
Fidelity Series Total Market Index Fund -- 2,465,366,228 381,734,169 26,869,811 2,011,215 (294,363,630) 1,791,279,644 
Fidelity Total Market Index Fund Class F 1,528,377,784 41,861,178 1,621,776,156 7,139,732 420,068,353 (368,531,159) -- 
Fidelity U.S. Bond Index Fund Class F 170,681,400 3,772,256 174,098,944 380,681 (168,941) (185,771) -- 
 $2,426,268,751 $3,750,991,837 $2,366,881,010 $76,450,679 $427,240,902 $(897,221,134) $3,340,399,346 

 (a) Includes the value of shares purchased or redeemed through in-kind transactions, if applicable.

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $18) $18  
Other affiliated issuers (cost $3,834,360,959) 3,340,399,346  
Total Investment in Securities (cost $3,834,360,977)  $3,340,399,364 
Cash  8,769 
Receivable for investments sold  48,052,623 
Receivable for fund shares sold  7,416,739 
Total assets  3,395,877,495 
Liabilities   
Payable for investments purchased $53,526,659  
Payable for fund shares redeemed 1,942,650  
Accrued management fee 216,137  
Total liabilities  55,685,446 
Net Assets  $3,340,192,049 
Net Assets consist of:   
Paid in capital  $3,829,522,175 
Total accumulated earnings (loss)  (489,330,126) 
Net Assets  $3,340,192,049 
Net Asset Value and Maximum Offering Price   
Investor Class:   
Net Asset Value, offering price and redemption price per share ($1,524,954,904 ÷ 99,388,461 shares)  $15.34 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($1,815,237,145 ÷ 118,316,109 shares)  $15.34 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $60,834,945 
Income from Fidelity Central Funds  20 
Total income  60,834,965 
Expenses   
Management fee $2,554,512  
Transfer agent fees 507,884  
Independent trustees' fees and expenses 11,325  
Total expenses before reductions 3,073,721  
Expense reductions (131,987)  
Total expenses after reductions  2,941,734 
Net investment income (loss)  57,893,231 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 427,249,650  
Capital gain distributions from underlying funds:   
Affiliated issuers 15,615,734  
Total net realized gain (loss)  442,865,384 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (897,221,134)  
Total change in net unrealized appreciation (depreciation)  (897,221,134) 
Net gain (loss)  (454,355,750) 
Net increase (decrease) in net assets resulting from operations  $(396,462,519) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $57,893,231 $42,710,321 
Net realized gain (loss) 442,865,384 (1,531,738) 
Change in net unrealized appreciation (depreciation) (897,221,134) 59,733,399 
Net increase (decrease) in net assets resulting from operations (396,462,519) 100,911,982 
Distributions to shareholders (488,861,326) (44,851,696) 
Share transactions - net increase (decrease) 1,799,394,306 566,423,597 
Total increase (decrease) in net assets 914,070,461 622,483,883 
Net Assets   
Beginning of period 2,426,121,588 1,803,637,705 
End of period $3,340,192,049 $2,426,121,588 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $19.41 $19.00 $17.14 $15.24 $16.01 
Income from Investment Operations      
Net investment income (loss)A .36 .39 .35 .33 .28 
Net realized and unrealized gain (loss) (1.55) .42 1.90 1.91 (.74) 
Total from investment operations (1.19) .81 2.25 2.24 (.46) 
Distributions from net investment income (.34) (.38) (.33) (.33) (.30) 
Distributions from net realized gain (2.54) (.02) (.06) (.01) B 
Total distributions (2.88) (.40) (.39) (.34) (.31)C 
Net asset value, end of period $15.34 $19.41 $19.00 $17.14 $15.24 
Total ReturnD (8.95)% 4.53% 13.15% 14.82% (2.92)% 
Ratios to Average Net AssetsE,F      
Expenses before reductions .12% .15% .15% .15% .15% 
Expenses net of fee waivers, if any .12% .11% .12% .10% .08% 
Expenses net of all reductions .12% .11% .12% .10% .08% 
Net investment income (loss) 1.84% 2.06% 1.89% 2.06% 1.80% 
Supplemental Data      
Net assets, end of period (000 omitted) $1,524,955 $1,049,434 $739,919 $513,543 $486,444 
Portfolio turnover rateF 77% 12% 6% 19% 7% 

 A Calculated based on average shares outstanding during the period.

 B Amount represents less than $.005 per share.

 C Total distributions of $.31 per share is comprised of distributions from net investment income of $.302 and distributions from net realized gain of $.003 per share.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 F Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Index 2050 Fund Institutional Premium Class

Years ended March 31, 2020 2019 2018 2017 2016 A 
Selected Per–Share Data      
Net asset value, beginning of period $19.41 $19.00 $17.14 $15.24 $16.37 
Income from Investment Operations      
Net investment income (loss)B .37 .40 .36 .34 .38 
Net realized and unrealized gain (loss) (1.55) .42 1.90 1.91 (1.20) 
Total from investment operations (1.18) .82 2.26 2.25 (.82) 
Distributions from net investment income (.34) (.39) (.34) (.34) (.30) 
Distributions from net realized gain (2.54) (.02) (.06) (.01) C 
Total distributions (2.89)D (.41) (.40) (.35) (.31)E 
Net asset value, end of period $15.34 $19.41 $19.00 $17.14 $15.24 
Total ReturnF,G (8.91)% 4.59% 13.20% 14.88% (5.04)% 
Ratios to Average Net AssetsH,I      
Expenses before reductions .08% .10% .10% .09% .05%J 
Expenses net of fee waivers, if any .08% .05% .07% .05% .01%J 
Expenses net of all reductions .08% .05% .07% .05% .01%J 
Net investment income (loss) 1.89% 2.11% 1.94% 2.11% 3.40%J 
Supplemental Data      
Net assets, end of period (000 omitted) $1,815,237 $1,376,687 $1,063,718 $722,781 $434,989 
Portfolio turnover rateI 77% 12% 6% 19% 7% 

 A For the period June 24, 2015 (commencement of sale of shares) to March 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C Amount represents less than $.005 per share.

 D Total distributions of $2.89 per share is comprised of distributions from net investment income of $.343 and distributions from net realized gain of $2.542 per share.

 E Total distributions of $.31 per share is comprised of distributions from net investment income of $.304 and distributions from net realized gain of $.003 per share.

 F Total returns for periods of less than one year are not annualized.

 G Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 I Amounts do not include the activity of Underlying Funds.

 J Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Total Market Index Fund 53.6 
Fidelity Series Global ex U.S. Index Fund 36.1 
Fidelity Series Bond Index Fund 7.2 
Fidelity Series Long-Term Treasury Bond Index Fund 3.1 
Fidelity Cash Central Fund 0.29% 0.0 
 100.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 53.6% 
   International Equity Funds 36.1% 
   Bond Funds 10.3% 


Percentages shown as 0.0% may reflect amounts less than 0.05%.

Fidelity Freedom® Index 2055 Fund

Schedule of Investments March 31, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 53.6%   
 Shares Value 
Fidelity Series Total Market Index Fund (a)   
(Cost $988,707,027) 98,309,848 847,430,888 
International Equity Funds - 36.1%   
Fidelity Series Global ex U.S. Index Fund (a)   
(Cost $686,372,728) 56,577,527 570,867,244 
Bond Funds - 10.3%   
Fidelity Series Bond Index Fund (a) 10,650,427 113,320,540 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 4,553,125 48,672,910 
TOTAL BOND FUNDS   
(Cost $146,714,071)  161,993,450 
Short-Term Funds - 0.0%   
Fidelity Cash Central Fund 0.29% (b)   
(Cost $1) 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $1,821,793,827)  1,580,291,583 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (103,459) 
NET ASSETS - 100%  $1,580,188,124 

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 $44 
Total $44 

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(a) Sales Proceeds(a) Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Fidelity Series Bond Index Fund $-- $144,342,024 $37,167,808 $2,528,872 $398,073 $5,748,251 $113,320,540 
Fidelity Series Global ex U.S. Index Fund 276,538,524 434,936,456 16,198,110 11,724,362 468,167 (124,877,793) 570,867,244 
Fidelity Series Long-Term Treasury Bond Index Fund 31,193,457 37,735,301 29,792,612 4,378,123 1,504,184 8,032,580 48,672,910 
Fidelity Series Total Market Index Fund -- 1,146,692,993 158,278,670 11,893,428 292,704 (141,276,139) 847,430,888 
Fidelity Total Market Index Fund Class F 646,760,920 21,939,793 690,542,652 3,024,749 130,696,018 (108,854,079) -- 
Fidelity U.S. Bond Index Fund Class F 72,226,028 2,050,368 74,127,839 161,389 213,311 (361,868) -- 
 $1,026,718,929 $1,787,696,935 $1,006,107,691 $33,710,923 $133,572,457 $(361,589,048) $1,580,291,582 

 (a) Includes the value of shares purchased or redeemed through in-kind transactions, if applicable.

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $1) $1  
Other affiliated issuers (cost $1,821,793,826) 1,580,291,582  
Total Investment in Securities (cost $1,821,793,827)  $1,580,291,583 
Cash  3,876 
Receivable for investments sold  22,685,056 
Receivable for fund shares sold  4,067,683 
Total assets  1,607,048,198 
Liabilities   
Payable for investments purchased $25,805,019  
Payable for fund shares redeemed 947,699  
Accrued management fee 107,356  
Total liabilities  26,860,074 
Net Assets  $1,580,188,124 
Net Assets consist of:   
Paid in capital  $1,819,240,950 
Total accumulated earnings (loss)  (239,052,826) 
Net Assets  $1,580,188,124 
Net Asset Value and Maximum Offering Price   
Investor Class:   
Net Asset Value, offering price and redemption price per share ($867,161,515 ÷ 68,871,928 shares)  $12.59 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($713,026,609 ÷ 56,566,639 shares)  $12.61 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $26,854,827 
Income from Fidelity Central Funds  44 
Total income  26,854,871 
Expenses   
Management fee $1,184,736  
Transfer agent fees 222,472  
Independent trustees' fees and expenses 4,995  
Total expenses before reductions 1,412,203  
Expense reductions (55,257)  
Total expenses after reductions  1,356,946 
Net investment income (loss)  25,497,925 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 133,576,285  
Capital gain distributions from underlying funds:   
Affiliated issuers 6,856,096  
Total net realized gain (loss)  140,432,381 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (361,589,048)  
Total change in net unrealized appreciation (depreciation)  (361,589,048) 
Net gain (loss)  (221,156,667) 
Net increase (decrease) in net assets resulting from operations  $(195,658,742) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $25,497,925 $16,877,772 
Net realized gain (loss) 140,432,381 (1,110,906) 
Change in net unrealized appreciation (depreciation) (361,589,048) 26,766,998 
Net increase (decrease) in net assets resulting from operations (195,658,742) 42,533,864 
Distributions to shareholders (160,934,870) (18,251,363) 
Share transactions - net increase (decrease) 910,128,176 354,294,793 
Total increase (decrease) in net assets 553,534,564 378,577,294 
Net Assets   
Beginning of period 1,026,653,560 648,076,266 
End of period $1,580,188,124 $1,026,653,560 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $15.33 $15.01 $13.53 $12.06 $12.71 
Income from Investment Operations      
Net investment income (loss)A .28 .31 .28 .28 .25 
Net realized and unrealized gain (loss) (1.33) .34 1.49 1.50 (.63) 
Total from investment operations (1.05) .65 1.77 1.78 (.38) 
Distributions from net investment income (.26) (.30) (.26) (.29) (.24)B 
Distributions from net realized gain (1.42) (.03) (.04) (.02) (.01)B 
Tax return of capital – – – – (.02) 
Total distributions (1.69)C (.33) (.29)D (.31) (.27) 
Net asset value, end of period $12.59 $15.33 $15.01 $13.53 $12.06 
Total ReturnE (8.94)% 4.57% 13.09% 14.90% (2.96)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .12% .15% .15% .15% .15% 
Expenses net of fee waivers, if any .12% .11% .12% .10% .08% 
Expenses net of all reductions .12% .11% .12% .10% .08% 
Net investment income (loss) 1.83% 2.06% 1.90% 2.18% 2.03% 
Supplemental Data      
Net assets, end of period (000 omitted) $867,162 $510,460 $305,192 $181,697 $150,332 
Portfolio turnover rateG 74% 11% 6% 33% 7% 

 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 of $1.69 per share is comprised of distributions from net investment income of $.263 and distributions from net realized gain of $1.423 per share.

 D Total distributions of $.29 per share is comprised of distributions from net investment income of $.255 and distributions from net realized gain of $.036 per share.

 E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 G Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Index 2055 Fund Institutional Premium Class

Years ended March 31, 2020 2019 2018 2017 2016 A 
Selected Per–Share Data      
Net asset value, beginning of period $15.34 $15.02 $13.54 $12.06 $13.00 
Income from Investment Operations      
Net investment income (loss)B .29 .32 .29 .28 .23 
Net realized and unrealized gain (loss) (1.33) .34 1.49 1.51 (.89) 
Total from investment operations (1.04) .66 1.78 1.79 (.66) 
Distributions from net investment income (.27) (.30) (.26) (.29) (.25)C 
Distributions from net realized gain (1.42) (.03) (.04) (.02) (.01)C 
Tax return of capital – – – – (.02) 
Total distributions (1.69) (.34)D (.30) (.31) (.28) 
Net asset value, end of period $12.61 $15.34 $15.02 $13.54 $12.06 
Total ReturnE,F (8.85)% 4.61% 13.13% 14.98% (5.11)% 
Ratios to Average Net AssetsG,H      
Expenses before reductions .08% .10% .10% .09% .05%I 
Expenses net of fee waivers, if any .08% .05% .07% .05% .01%I 
Expenses net of all reductions .08% .05% .07% .05% .01%I 
Net investment income (loss) 1.87% 2.12% 1.95% 2.23% 2.63%I 
Supplemental Data      
Net assets, end of period (000 omitted) $713,027 $516,194 $342,884 $210,752 $135,214 
Portfolio turnover rateH 74% 11% 6% 33% 7% 

 A For the period June 24, 2015 (commencement of sale of shares) to March 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C The amounts shown reflect certain reclassifications related to book to tax differences that were made in the year shown.

 D Total distributions of $.34 per share is comprised of distributions from net investment income of $.302 and distributions from net realized gain of $.033 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Total Market Index Fund 53.6 
Fidelity Series Global ex U.S. Index Fund 36.1 
Fidelity Series Bond Index Fund 7.2 
Fidelity Series Long-Term Treasury Bond Index Fund 3.1 
Fidelity Cash Central Fund 0.29% 0.0 
 100.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 53.6% 
   International Equity Funds 36.1% 
   Bond Funds 10.3% 


Percentages shown as 0.0% may reflect amounts less than 0.05%.

Fidelity Freedom® Index 2060 Fund

Schedule of Investments March 31, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 53.6%   
 Shares Value 
Fidelity Series Total Market Index Fund (a)   
(Cost $353,641,072) 35,108,689 302,636,903 
International Equity Funds - 36.1%   
Fidelity Series Global ex U.S. Index Fund (a)   
(Cost $247,143,996) 20,205,014 203,868,588 
Bond Funds - 10.3%   
Fidelity Series Bond Index Fund (a) 3,803,381 40,467,977 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 1,625,969 17,381,604 
TOTAL BOND FUNDS   
(Cost $52,647,286)  57,849,581 
Short-Term Funds - 0.0%   
Fidelity Cash Central Fund 0.29% (b)   
(Cost $1) 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $653,432,355)  564,355,073 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (37,494) 
NET ASSETS - 100%  $564,317,579 

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(a) Sales Proceeds(a) Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Fidelity Series Bond Index Fund $-- $50,931,190 $12,493,612 $838,271 $110,330 $1,920,069 $40,467,977 
Fidelity Series Global ex U.S. Index Fund 80,422,864 172,587,638 4,582,662 3,970,771 138,164 (44,697,416) 203,868,588 
Fidelity Series Long-Term Treasury Bond Index Fund 9,071,274 15,138,937 10,083,787 1,468,743 419,518 2,835,662 17,381,604 
Fidelity Series Total Market Index Fund -- 401,478,318 47,745,242 4,028,008 (92,004) (51,004,169) 302,636,903 
Fidelity Total Market Index Fund Class F 188,090,302 11,414,751 205,934,595 892,541 25,578,880 (19,149,338) -- 
Fidelity U.S. Bond Index Fund Class F 21,004,026 1,141,848 22,104,189 47,741 129,899 (171,584) -- 
 $298,588,466 $652,692,682 $302,944,087 $11,246,075 $26,284,787 $(110,266,776) $564,355,072 

 (a) Includes the value of shares purchased or redeemed through in-kind transactions, if applicable.

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $1) $1  
Other affiliated issuers (cost $653,432,354) 564,355,072  
Total Investment in Securities (cost $653,432,355)  $564,355,073 
Cash  1,301 
Receivable for investments sold  8,052,724 
Receivable for fund shares sold  1,842,260 
Total assets  574,251,358 
Liabilities   
Payable for investments purchased $9,526,929  
Payable for fund shares redeemed 368,047  
Accrued management fee 38,803  
Total liabilities  9,933,779 
Net Assets  $564,317,579 
Net Assets consist of:   
Paid in capital  $652,883,778 
Total accumulated earnings (loss)  (88,566,199) 
Net Assets  $564,317,579 
Net Asset Value and Maximum Offering Price   
Investor Class:   
Net Asset Value, offering price and redemption price per share ($323,054,351 ÷ 30,327,086 shares)  $10.65 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($241,263,228 ÷ 22,628,203 shares)  $10.66 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $8,973,985 
Income from Fidelity Central Funds  
Total income  8,973,991 
Expenses   
Management fee $401,115  
Transfer agent fees 67,662  
Independent trustees' fees and expenses 1,610  
Total expenses before reductions 470,387  
Expense reductions (16,277)  
Total expenses after reductions  454,110 
Net investment income (loss)  8,519,881 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 26,286,083  
Capital gain distributions from underlying funds:   
Affiliated issuers 2,272,090  
Total net realized gain (loss)  28,558,173 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (110,266,776)  
Total change in net unrealized appreciation (depreciation)  (110,266,776) 
Net gain (loss)  (81,708,603) 
Net increase (decrease) in net assets resulting from operations  $(73,188,722) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $8,519,881 $4,641,573 
Net realized gain (loss) 28,558,173 (896,441) 
Change in net unrealized appreciation (depreciation) (110,266,776) 7,479,986 
Net increase (decrease) in net assets resulting from operations (73,188,722) 11,225,118 
Distributions to shareholders (35,361,701) (4,993,298) 
Share transactions - net increase (decrease) 374,298,933 136,556,276 
Total increase (decrease) in net assets 265,748,510 142,788,096 
Net Assets   
Beginning of period 298,569,069 155,780,973 
End of period $564,317,579 $298,569,069 

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, 2020 2019 2018 2017 2016 
Selected Per–Share Data      
Net asset value, beginning of period $12.49 $12.23 $11.04 $9.85 $10.33 
Income from Investment Operations      
Net investment income (loss)A .24 .26 .24 .25 .25 
Net realized and unrealized gain (loss) (1.19) .27 1.21 1.19 (.55) 
Total from investment operations (.95) .53 1.45 1.44 (.30) 
Distributions from net investment income (.21) (.24) (.20) (.22) (.18) 
Distributions from net realized gain (.68) (.03) (.06) (.03) B 
Total distributions (.89) (.27) (.26) (.25) (.18) 
Net asset value, end of period $10.65 $12.49 $12.23 $11.04 $9.85 
Total ReturnC (8.95)% 4.54% 13.17% 14.80% (2.94)% 
Ratios to Average Net AssetsD,E      
Expenses before reductions .12% .15% .15% .15% .15% 
Expenses net of fee waivers, if any .12% .11% .12% .11% .08% 
Expenses net of all reductions .12% .11% .12% .11% .08% 
Net investment income (loss) 1.85% 2.13% 1.97% 2.41% 2.57% 
Supplemental Data      
Net assets, end of period (000 omitted) $323,054 $160,477 $82,123 $38,013 $16,979 
Portfolio turnover rateE 67% 15% 7% 41% 8% 

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 E Amounts do not include the activity of Underlying Funds.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Index 2060 Fund Institutional Premium Class

Years ended March 31, 2020 2019 2018 2017 2016 A 
Selected Per–Share Data      
Net asset value, beginning of period $12.50 $12.23 $11.05 $9.85 $10.56 
Income from Investment Operations      
Net investment income (loss)B .24 .27 .24 .26 .13 
Net realized and unrealized gain (loss) (1.19) .27 1.21 1.19 (.66) 
Total from investment operations (.95) .54 1.45 1.45 (.53) 
Distributions from net investment income (.21) (.24) (.21) (.22) (.18) 
Distributions from net realized gain (.68) (.03) (.06) (.03) C 
Total distributions (.89) (.27) (.27) (.25) (.18) 
Net asset value, end of period $10.66 $12.50 $12.23 $11.05 $9.85 
Total ReturnD,E (8.93)% 4.66% 13.12% 14.93% (5.05)% 
Ratios to Average Net AssetsF,G      
Expenses before reductions .08% .10% .10% .09% .05%H 
Expenses net of fee waivers, if any .08% .05% .07% .06% .01%H 
Expenses net of all reductions .08% .05% .07% .06% .01%H 
Net investment income (loss) 1.90% 2.19% 2.02% 2.47% 1.80%H 
Supplemental Data      
Net assets, end of period (000 omitted) $241,263 $138,092 $73,658 $28,478 $9,543 
Portfolio turnover rateG 67% 15% 7% 41% 8% 

 A For the period June 24, 2015 (commencement of sale of shares) to March 31, 2016.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Total Market Index Fund 53.6 
Fidelity Series Global ex U.S. Index Fund 36.1 
Fidelity Series Bond Index Fund 7.2 
Fidelity Series Long-Term Treasury Bond Index Fund 3.1 
Fidelity Cash Central Fund 0.29% 0.0 
 100.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 53.6% 
   International Equity Funds 36.1% 
   Bond Funds 10.3% 


Percentages shown as 0.0% may reflect amounts less than 0.05%.

Fidelity Freedom® Index 2065 Fund

Schedule of Investments March 31, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 53.6%   
 Shares Value 
Fidelity Series Total Market Index Fund (a)   
(Cost $16,101,138) 1,571,497 13,546,305 
International Equity Funds - 36.1%   
Fidelity Series Global ex U.S. Index Fund (a)   
(Cost $11,061,487) 904,408 9,125,477 
Bond Funds - 10.3%   
Fidelity Series Bond Index Fund (a) 170,216 1,811,096 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 72,769 777,901 
TOTAL BOND FUNDS   
(Cost $2,446,186)  2,588,997 
Short-Term Funds - 0.0%   
Fidelity Cash Central Fund 0.29% (b)   
(Cost $197) 197 197 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $29,609,008)  25,260,976 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (1,710) 
NET ASSETS - 100%  $25,259,266 

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 $200 
Total $200 

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 $-- $2,621,170 $851,853 $14,710 $(2,079) $43,858 $1,811,096 
Fidelity Series Global ex U.S. Index Fund -- 13,586,822 2,551,892 136,867 26,557 (1,936,010) 9,125,477 
Fidelity Series Long-Term Treasury Bond Index Fund -- 1,189,134 494,733 43,838 (15,454) 98,954 777,901 
Fidelity Series Total Market Index Fund -- 20,319,681 4,288,155 138,781 69,613 (2,554,834) 13,546,305 
 $-- $37,716,807 $8,186,633 $334,196 $78,637 $(4,348,032) $25,260,779 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $197) $197  
Other affiliated issuers (cost $29,608,811) 25,260,779  
Total Investment in Securities (cost $29,609,008)  $25,260,976 
Cash  28 
Receivable for investments sold  364,946 
Receivable for fund shares sold  123,758 
Total assets  25,749,708 
Liabilities   
Payable for investments purchased $395,596  
Payable for fund shares redeemed 93,106  
Accrued management fee 1,740  
Total liabilities  490,442 
Net Assets  $25,259,266 
Net Assets consist of:   
Paid in capital  $29,486,609 
Total accumulated earnings (loss)  (4,227,343) 
Net Assets  $25,259,266 
Net Asset Value and Maximum Offering Price   
Investor Class:   
Net Asset Value, offering price and redemption price per share ($15,363,105 ÷ 1,786,249 shares)  $8.60 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($9,896,161 ÷ 1,150,380 shares)  $8.60 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  For the period
June 28, 2019 (commencement of operations) to
March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $268,246 
Income from Fidelity Central Funds  200 
Total income  268,446 
Expenses   
Management fee $8,275  
Independent trustees' fees and expenses 21  
Total expenses  8,296 
Net investment income (loss)  260,150 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 78,663  
Capital gain distributions from underlying funds:   
Affiliated issuers 65,950  
Total net realized gain (loss)  144,613 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (4,348,032)  
Total change in net unrealized appreciation (depreciation)  (4,348,032) 
Net gain (loss)  (4,203,419) 
Net increase (decrease) in net assets resulting from operations  $(3,943,269) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 For the period
June 28, 2019 (commencement of operations) to
March 31, 2020 
Increase (Decrease) in Net Assets  
Operations  
Net investment income (loss) $260,150 
Net realized gain (loss) 144,613 
Change in net unrealized appreciation (depreciation) (4,348,032) 
Net increase (decrease) in net assets resulting from operations (3,943,269) 
Distributions to shareholders (284,073) 
Share transactions - net increase (decrease) 29,486,608 
Total increase (decrease) in net assets 25,259,266 
Net Assets  
Beginning of period – 
End of period $25,259,266 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Freedom Index 2065 Fund Investor Class

 2020 Year ended March 31,A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .25 
Net realized and unrealized gain (loss) (1.43) 
Total from investment operations (1.18) 
Distributions from net investment income (.19) 
Distributions from net realized gain (.02) 
Total distributions (.22)C 
Net asset value, end of period $8.60 
Total ReturnD (12.24)% 
Ratios to Average Net AssetsE,F  
Expenses before reductions .12%G 
Expenses net of fee waivers, if any .12%G 
Expenses net of all reductions .12%G 
Net investment income (loss) 3.25%G 
Supplemental Data  
Net assets, end of period (000 omitted) $15,363 
Portfolio turnover rateF 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 of $.22 per share is comprised of distributions from net investment income of $.193 and distributions from net realized gain of $.024 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Index 2065 Fund Institutional Premium Class

  2020 Year ended March 31,A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .25 
Net realized and unrealized gain (loss) (1.43) 
Total from investment operations (1.18) 
Distributions from net investment income (.19) 
Distributions from net realized gain (.02) 
Total distributions (.22)C 
Net asset value, end of period $8.60 
Total ReturnD (12.23)% 
Ratios to Average Net AssetsE,F  
Expenses before reductions .08%G 
Expenses net of fee waivers, if any .08%G 
Expenses net of all reductions .08%G 
Net investment income (loss) 3.29%G 
Supplemental Data  
Net assets, end of period (000 omitted) $9,896 
Portfolio turnover rateF 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 of $.22 per share is comprised of distributions from net investment income of $.194 and distributions from net realized gain of $.024 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Notes to Financial Statements

For the period ended March 31, 2020

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. The Funds invest primarily in a combination of other Fidelity equity, bond, and short-term funds (the Underlying Funds) managed by Fidelity Management & Research Company LLC (FMR). Each Fund offers Investor Class and Institutional Premium Class 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.

Effective January 1, 2020:

Investment advisers Fidelity Investments Money Management, Inc., FMR Co., Inc., and Fidelity SelectCo, LLC, merged with and into Fidelity Management & Research Company. In connection with the merger transactions, the resulting, merged investment adviser was then redomiciled from Massachusetts to Delaware, changed its corporate structure from a corporation to a limited liability company, and changed its name to "Fidelity Management & Research Company LLC".

Fidelity Investments Institutional Operations Company, Inc. converted from a Massachusetts corporation to a Massachusetts LLC, and changed its name to "Fidelity Investments Institutional Operations Company LLC".

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 – Investments 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. The following summarizes the significant accounting policies of the Funds:

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 the Underlying 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 the Underlying Funds, if any, 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 transfer agent 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 the Underlying Funds. Although not included in each Fund's expenses, each Fund indirectly bears its proportionate share of the Underlying Funds' expenses through the impact of these expenses on each Underlying Fund's 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, 2020, 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, foreign currency transactions 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 $556,924,101 $17,622,611 $(15,683,659) $1,938,952 
Fidelity Freedom Index 2005 Fund 177,132,521 5,672,207 (6,038,516) (366,309) 
Fidelity Freedom Index 2010 Fund 686,453,465 21,445,526 (30,944,710) (9,499,184) 
Fidelity Freedom Index 2015 Fund 1,616,819,442 45,370,879 (97,194,283) (51,823,404) 
Fidelity Freedom Index 2020 Fund 5,535,988,455 139,671,564 (417,393,054) (277,721,490) 
Fidelity Freedom Index 2025 Fund 6,882,645,752 150,794,713 (622,684,442) (471,889,729) 
Fidelity Freedom Index 2030 Fund 8,189,231,362 159,811,651 (853,486,615) (693,674,964) 
Fidelity Freedom Index 2035 Fund 6,059,735,422 75,461,454 (777,788,548) (702,327,094) 
Fidelity Freedom Index 2040 Fund 6,048,513,427 57,378,528 (838,952,558) (781,574,030) 
Fidelity Freedom Index 2045 Fund 4,255,614,083 39,473,071 (594,399,602) (554,926,531) 
Fidelity Freedom Index 2050 Fund 3,843,238,144 36,013,766 (538,852,546) (502,838,780) 
Fidelity Freedom Index 2055 Fund 1,824,850,401 16,910,908 (261,469,726) (244,558,818) 
Fidelity Freedom Index 2060 Fund 654,671,729 5,971,672 (96,288,328) (90,316,656) 
Fidelity Freedom Index 2065 Fund 29,646,161 289,144 (4,674,329) (4,385,185) 

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 $1,294,178 $967,412 $1,938,952 
Fidelity Freedom Index 2005 Fund 813,583 351,386 (366,309) 
Fidelity Freedom Index 2010 Fund 3,691,081 1,724,532 (9,499,184) 
Fidelity Freedom Index 2015 Fund 8,235,110 3,917,978 (51,823,404) 
Fidelity Freedom Index 2020 Fund 25,930,842 14,031,306 (277,721,490) 
Fidelity Freedom Index 2025 Fund 27,535,332 14,860,341 (471,889,729) 
Fidelity Freedom Index 2030 Fund 28,400,735 19,262,587 (693,674,964) 
Fidelity Freedom Index 2035 Fund 11,998,353 13,634,451 (702,327,094) 
Fidelity Freedom Index 2040 Fund 8,397,302 14,403,227 (781,574,030) 
Fidelity Freedom Index 2045 Fund 6,056,957 8,849,055 (554,926,531) 
Fidelity Freedom Index 2050 Fund 5,727,578 7,781,076 (502,838,780) 
Fidelity Freedom Index 2055 Fund 2,249,056 3,256,935 (244,558,818) 
Fidelity Freedom Index 2060 Fund 719,191 1,031,266 (90,316,656) 
Fidelity Freedom Index 2065 Fund 122,015 35,829 (4,385,185) 

The tax character of distributions paid was as follows:

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.

March 31, 2019    
 Ordinary Income Long-term Capital Gains Total 
Fidelity Freedom Index Income Fund $7,541,272 $2,047,247 $9,588,519 
Fidelity Freedom Index 2005 Fund 2,547,247 1,062,102 3,609,349 
Fidelity Freedom Index 2010 Fund 12,477,743 13,336,020 25,813,763 
Fidelity Freedom Index 2015 Fund 27,521,935 12,059,672 39,581,607 
Fidelity Freedom Index 2020 Fund 91,695,043 6,834,734 98,529,777 
Fidelity Freedom Index 2025 Fund 90,147,932 1,511,557 91,659,489 
Fidelity Freedom Index 2030 Fund 108,481,070 585,238 109,066,308 
Fidelity Freedom Index 2035 Fund 70,562,163 1,126,610 71,688,773 
Fidelity Freedom Index 2040 Fund 74,410,280 1,921,467 76,331,747 
Fidelity Freedom Index 2045 Fund 46,624,232 2,231,357 48,855,589 
Fidelity Freedom Index 2050 Fund 42,530,297 2,321,399 44,851,696 
Fidelity Freedom Index 2055 Fund 16,743,275 1,508,088 18,251,363 
Fidelity Freedom Index 2060 Fund 4,599,275 394,023 4,993,298 

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 513,844,934 310,196,888 
Fidelity Freedom Index 2005 Fund 175,080,018 128,797,253 
Fidelity Freedom Index 2010 Fund 654,743,575 529,829,552 
Fidelity Freedom Index 2015 Fund 1,614,132,487 1,314,343,230 
Fidelity Freedom Index 2020 Fund 5,500,918,773 4,471,174,634 
Fidelity Freedom Index 2025 Fund 6,914,834,164 4,822,331,592 
Fidelity Freedom Index 2030 Fund 8,359,839,094 5,981,615,942 
Fidelity Freedom Index 2035 Fund 6,021,819,437 4,025,059,257 
Fidelity Freedom Index 2040 Fund 5,806,359,954 3,939,919,048 
Fidelity Freedom Index 2045 Fund 4,153,877,215 2,623,985,768 
Fidelity Freedom Index 2050 Fund 3,750,991,837 2,366,881,010 
Fidelity Freedom Index 2055 Fund 1,787,696,935 1,006,107,691 
Fidelity Freedom Index 2060 Fund 652,692,682 302,944,087 
Fidelity Freedom Index 2065 Fund 37,716,807 8,186,633 

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. Effective June 1, 2019, under the management contract, Investor Class and Institutional Premium Class of each Fund pays an all-inclusive monthly management fee at an annual rate of .12% and .08% 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, effective June 1, 2019, under the expense contract, total expenses, including acquired fund fees and expenses, are limited to an annual rate of .12% and .08% of class-level average net assets for Investor Class and Institutional Premium Class, respectively, with certain exceptions.

Prior to June 1, 2019, the Funds did not pay any fees for investment management related services.

Transfer Agent Fees. Fidelity Investments Institutional Operations Company LLC (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Funds. FIIOC receives an annual asset-based fee of .15% and .10% of class-level average net assets for each Investor Class and Institutional Premium Class, respectively. Effective June 1, 2019, transfer agent fees are paid by the investment adviser and not by the Funds. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements. For the period, transfer agent fees for each applicable class were as follows:

 Amount 
Fidelity Freedom Index Income Fund  
Investor Class $46,611 
Institutional Premium Class 30,673 
 $77,284 
Fidelity Freedom Index 2005 Fund  
Investor Class $16,998 
Institutional Premium Class 10,725 
 $27,723 
Fidelity Freedom Index 2010 Fund  
Investor Class $66,389 
Institutional Premium Class 51,862 
 $118,251 
Fidelity Freedom Index 2015 Fund  
Investor Class $186,197 
Institutional Premium Class 99,100 
 $285,297 
Fidelity Freedom Index 2020 Fund  
Investor Class $511,828 
Institutional Premium Class 418,323 
 $930,151 
Fidelity Freedom Index 2025 Fund  
Investor Class $624,268 
Institutional Premium Class 396,855 
 $1,021,123 
Fidelity Freedom Index 2030 Fund  
Investor Class $657,476 
Institutional Premium Class 548,139 
 $1,205,615 
Fidelity Freedom Index 2035 Fund  
Investor Class $526,442 
Institutional Premium Class 336,554 
 $862,996 
Fidelity Freedom Index 2040 Fund  
Investor Class $456,024 
Institutional Premium Class 405,795 
 $861,819 
Fidelity Freedom Index 2045 Fund  
Investor Class $327,859 
Institutional Premium Class 242,599 
 $570,458 
Fidelity Freedom Index 2050 Fund  
Investor Class $276,577 
Institutional Premium Class 231,307 
 $507,884 
Fidelity Freedom Index 2055 Fund  
Investor Class $134,287 
Institutional Premium Class 88,185 
 $222,472 
Fidelity Freedom Index 2060 Fund  
Investor Class $43,535 
Institutional Premium Class 24,127 
 $67,662 

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. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

Reallocation of Underlying Fund Investments. During the 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. Net realized gain (loss) on the redemptions of the selected Underlying Funds in connection with the reallocation is included in the accompanying Statements of Operations as "Net realized gain (loss) on Affiliated issuers."

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 $131 
Fidelity Freedom Index 2005 Fund 79 
Fidelity Freedom Index 2010 Fund 519 
Fidelity Freedom Index 2015 Fund 1,785 
Fidelity Freedom Index 2020 Fund 7,841 
Fidelity Freedom Index 2025 Fund 10,856 
Fidelity Freedom Index 2030 Fund 15,920 
Fidelity Freedom Index 2035 Fund 13,276 
Fidelity Freedom Index 2040 Fund 14,229 
Fidelity Freedom Index 2045 Fund 9,777 
Fidelity Freedom Index 2050 Fund 8,748 
Fidelity Freedom Index 2055 Fund 3,828 
Fidelity Freedom Index 2060 Fund 1,296 
Fidelity Freedom Index 2065 Fund 26 

6. Expense Reductions.

The investment adviser contractually agreed to reimburse expenses of each class of each Fund to the extent annual operating expenses, including acquired fund fees and expenses, exceeded certain levels of class-level average net assets as noted in the table below. Effective June 1, 2019, the expense limitations were discontinued. Some expenses, for example the compensation of the independent Trustees, and certain other expenses such as interest expense, were excluded from this reimbursement.

The following classes of each applicable Fund were in reimbursement during the period April 1, 2019 through May 31, 2019:

 Expense Limitations Reimbursement 
Fidelity Freedom Index Income Fund   
Investor Class .14% $6,589 
Institutional Premium Class .08% 9,574 
Fidelity Freedom Index 2005 Fund   
Investor Class .14% $2,482 
Institutional Premium Class .08% 3,422 
Fidelity Freedom Index 2010 Fund   
Investor Class .14% $10,076 
Institutional Premium Class .08% 16,989 
Fidelity Freedom Index 2015 Fund   
Investor Class .14% $29,249 
Institutional Premium Class .08% 33,260 
Fidelity Freedom Index 2020 Fund   
Investor Class .14% $82,498 
Institutional Premium Class .08% 142,965 
Fidelity Freedom Index 2025 Fund   
Investor Class .14% $102,640 
Institutional Premium Class .08% 137,554 
Fidelity Freedom Index 2030 Fund   
Investor Class .14% $111,695 
Institutional Premium Class .08% 194,477 
Fidelity Freedom Index 2035 Fund   
Investor Class .14% $91,268 
Institutional Premium Class .08% 121,161 
Fidelity Freedom Index 2040 Fund   
Investor Class .14% $79,608 
Institutional Premium Class .08% 146,823 
Fidelity Freedom Index 2045 Fund   
Investor Class .14% $57,239 
Institutional Premium Class .08% 87,781 
Fidelity Freedom Index 2050 Fund   
Investor Class .14% $48,289 
Institutional Premium Class .08% 83,698 
Fidelity Freedom Index 2055 Fund   
Investor Class .14% $23,396 
Institutional Premium Class .08% 31,861 
Fidelity Freedom Index 2060 Fund   
Investor Class .14% $7,571 
Institutional Premium Class .08% 8,706 

In addition, 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 2005 Fund $1 
Fidelity Freedom Index 2025 Fund 
Fidelity Freedom Index 2030 Fund 
Fidelity Freedom Index 2035 Fund 
Fidelity Freedom Index 2040 Fund 

7. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

 Year ended
March 31, 2020 
Year ended
March 31, 2019 
Fidelity Freedom Index Income Fund   
Distributions to shareholders   
Investor Class $17,666,253 $4,309,033 
Institutional Premium Class 17,590,362 5,279,486 
Total $35,256,615 $9,588,519 
Fidelity Freedom Index 2005 Fund   
Distributions to shareholders   
Investor Class $8,860,842 $1,825,871 
Institutional Premium Class 7,515,499 1,783,478 
Total $16,376,341 $3,609,349 
Fidelity Freedom Index 2010 Fund   
Distributions to shareholders   
Investor Class $50,445,337 $11,154,439 
Institutional Premium Class 48,815,854 14,659,324 
Total $99,261,191 $25,813,763 
Fidelity Freedom Index 2015 Fund   
Distributions to shareholders   
Investor Class $150,081,688 $20,834,219 
Institutional Premium Class 111,014,102 18,747,388 
Total $261,095,790 $39,581,607 
Fidelity Freedom Index 2020 Fund   
Distributions to shareholders   
Investor Class $417,629,721 $41,266,067 
Institutional Premium Class 444,879,925 57,263,709 
Total $862,509,646 $98,529,776 
Fidelity Freedom Index 2025 Fund   
Distributions to shareholders   
Investor Class $444,095,411 $43,728,986 
Institutional Premium Class 383,513,060 47,930,503 
Total $827,608,471 $91,659,489 
Fidelity Freedom Index 2030 Fund   
Distributions to shareholders   
Investor Class $560,258,274 $45,602,939 
Institutional Premium Class 609,241,539 63,463,369 
Total $1,169,499,813 $109,066,308 
Fidelity Freedom Index 2035 Fund   
Distributions to shareholders   
Investor Class $439,847,190 $34,567,942 
Institutional Premium Class 392,335,172 37,120,831 
Total $832,182,362 $71,688,773 
Fidelity Freedom Index 2040 Fund   
Distributions to shareholders   
Investor Class $416,481,373 $31,350,412 
Institutional Premium Class 512,208,097 44,981,335 
Total $928,689,470 $76,331,747 
Fidelity Freedom Index 2045 Fund   
Distributions to shareholders   
Investor Class $259,811,525 $22,205,976 
Institutional Premium Class 278,002,254 26,649,613 
Total $537,813,779 $48,855,589 
Fidelity Freedom Index 2050 Fund   
Distributions to shareholders   
Investor Class $219,556,646 $19,232,468 
Institutional Premium Class 269,304,680 25,619,228 
Total $488,861,326 $44,851,696 
Fidelity Freedom Index 2055 Fund   
Distributions to shareholders   
Investor Class $88,522,571 $8,724,993 
Institutional Premium Class 72,412,299 9,526,370 
Total $160,934,870 $18,251,363 
Fidelity Freedom Index 2060 Fund   
Distributions to shareholders   
Investor Class $20,175,405 $2,638,488 
Institutional Premium Class 15,186,296 2,354,810 
Total $35,361,701 $4,993,298 
Fidelity Freedom Index 2065 Fund(a)   
Distributions to shareholders   
Investor Class $180,525 $– 
Institutional Premium Class 103,548 – 
Total $284,073 $– 

 (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, 2020 Year ended March 31, 2019 Year ended March 31, 2020 Year ended March 31, 2019 
Fidelity Freedom Index Income Fund     
Investor Class     
Shares sold 18,120,724 7,035,250 $219,403,823 $82,758,749 
Reinvestment of distributions 1,469,229 366,694 17,534,254 4,269,683 
Shares redeemed (9,233,820) (4,086,293) (111,322,254) (48,160,938) 
Net increase (decrease) 10,356,133 3,315,651 $125,615,823 $38,867,494 
Institutional Premium Class     
Shares sold 13,649,257 5,886,820 $166,135,867 $69,374,216 
Reinvestment of distributions 1,476,450 453,713 17,590,362 5,279,486 
Shares redeemed (6,800,570) (4,643,305) (82,024,088) (54,808,561) 
Net increase (decrease) 8,325,137 1,697,228 $101,702,141 $19,845,141 
Fidelity Freedom Index 2005 Fund     
Investor Class     
Shares sold 4,924,110 2,253,310 $66,250,577 $29,947,370 
Reinvestment of distributions 671,288 140,272 8,777,977 1,803,843 
Shares redeemed (3,094,720) (1,953,826) (41,136,366) (26,057,217) 
Net increase (decrease) 2,500,678 439,756 $33,892,188 $5,693,996 
Institutional Premium Class     
Shares sold 3,424,758 1,620,499 $46,049,333 $21,540,891 
Reinvestment of distributions 574,632 138,724 7,515,499 1,783,478 
Shares redeemed (2,139,680) (983,108) (28,634,292) (13,085,027) 
Net increase (decrease) 1,859,710 776,115 $24,930,540 $10,239,342 
Fidelity Freedom Index 2010 Fund     
Investor Class     
Shares sold 15,052,440 5,771,585 $211,651,492 $81,505,254 
Reinvestment of distributions 3,817,404 823,634 50,115,867 11,068,928 
Shares redeemed (8,117,951) (5,457,456) (111,527,911) (77,073,023) 
Net increase (decrease) 10,751,893 1,137,763 $150,239,448 $15,501,159 
Institutional Premium Class     
Shares sold 8,143,448 4,337,444 $114,584,658 $61,124,398 
Reinvestment of distributions 3,716,766 1,090,496 48,815,854 14,659,324 
Shares redeemed (7,536,761) (5,965,314) (105,046,402) (84,304,772) 
Net increase (decrease) 4,323,453 (537,374) $58,354,110 $(8,521,050) 
Fidelity Freedom Index 2015 Fund     
Investor Class     
Shares sold 32,650,717 17,774,428 $488,524,806 $264,687,745 
Reinvestment of distributions 10,761,105 1,473,364 149,342,418 20,768,001 
Shares redeemed (21,601,220) (14,106,234) (311,808,556) (210,347,643) 
Net increase (decrease) 21,810,602 5,141,558 $326,058,668 $75,108,103 
Institutional Premium Class     
Shares sold 19,750,349 12,287,250 $295,971,928 $182,433,555 
Reinvestment of distributions 7,998,029 1,330,071 111,014,102 18,747,388 
Shares redeemed (14,110,815) (11,585,083) (209,056,900) (172,896,470) 
Net increase (decrease) 13,637,563 2,032,238 $197,929,130 $28,284,473 
Fidelity Freedom Index 2020 Fund     
Investor Class     
Shares sold 102,815,807 50,193,972 $1,641,767,048 $787,934,660 
Reinvestment of distributions 27,838,228 2,768,771 415,616,368 41,081,740 
Shares redeemed (64,016,969) (34,254,076) (984,924,209) (536,638,542) 
Net increase (decrease) 66,637,066 18,708,667 $1,072,459,207 $292,377,858 
Institutional Premium Class     
Shares sold 68,537,330 47,876,632 $1,095,334,629 $749,518,480 
Reinvestment of distributions 29,811,951 3,856,922 444,879,925 57,263,709 
Shares redeemed (53,905,551) (40,690,617) (846,332,626) (640,546,169) 
Net increase (decrease) 44,443,730 11,042,937 $693,881,928 $166,236,020 
Fidelity Freedom Index 2025 Fund     
Investor Class     
Shares sold 129,762,256 61,472,271 $2,229,728,790 $1,025,488,901 
Reinvestment of distributions 26,833,336 2,779,801 442,284,847 43,582,590 
Shares redeemed (59,889,712) (30,179,744) (991,693,745) (503,791,920) 
Net increase (decrease) 96,705,880 34,072,328 $1,680,319,892 $565,279,571 
Institutional Premium Class     
Shares sold 79,710,153 50,063,202 $1,368,255,120 $833,661,681 
Reinvestment of distributions 23,265,479 3,055,412 383,508,004 47,930,503 
Shares redeemed (39,002,808) (24,864,319) (656,237,606) (416,320,702) 
Net increase (decrease) 63,972,824 28,254,295 $1,095,525,518 $465,271,482 
Fidelity Freedom Index 2030 Fund     
Investor Class     
Shares sold 131,157,768 61,247,727 $2,360,809,797 $1,075,752,581 
Reinvestment of distributions 32,671,366 2,781,424 558,493,424 45,475,945 
Shares redeemed (57,645,518) (30,759,454) (996,847,484) (535,990,755) 
Net increase (decrease) 106,183,616 33,269,697 $1,922,455,737 $585,237,771 
Institutional Premium Class     
Shares sold 87,060,673 52,465,628 $1,564,921,464 $920,277,350 
Reinvestment of distributions 35,635,273 3,878,934 609,241,539 63,463,369 
Shares redeemed (40,732,758) (25,113,110) (720,913,670) (443,991,743) 
Net increase (decrease) 81,963,188 31,231,452 $1,453,249,333 $539,748,976 
Fidelity Freedom Index 2035 Fund     
Investor Class     
Shares sold 100,117,537 48,198,907 $1,909,862,090 $898,339,757 
Reinvestment of distributions 23,788,624 2,015,651 437,257,451 34,341,782 
Shares redeemed (41,863,894) (19,821,822) (767,948,063) (368,557,433) 
Net increase (decrease) 82,042,267 30,392,736 $1,579,171,478 $564,124,106 
Institutional Premium Class     
Shares sold 64,780,160 35,972,492 $1,236,729,019 $669,708,444 
Reinvestment of distributions 21,343,218 2,175,524 392,335,171 37,120,831 
Shares redeemed (26,541,395) (14,215,858) (500,176,465) (267,109,887) 
Net increase (decrease) 59,581,983 23,932,158 $1,128,887,725 $439,719,388 
Fidelity Freedom Index 2040 Fund     
Investor Class     
Shares sold 83,553,714 41,329,948 $1,588,674,345 $774,688,756 
Reinvestment of distributions 22,780,078 1,827,516 415,500,499 31,275,666 
Shares redeemed (33,736,635) (21,182,507) (621,941,422) (393,490,190) 
Net increase (decrease) 72,597,157 21,974,957 $1,382,233,422 $412,474,232 
Institutional Premium Class     
Shares sold 68,827,317 37,037,978 $1,316,598,156 $694,294,350 
Reinvestment of distributions 28,080,522 2,626,265 512,208,096 44,981,335 
Shares redeemed (28,428,229) (17,159,339) (535,694,750) (324,466,363) 
Net increase (decrease) 68,479,610 22,504,904 $1,293,111,502 $414,809,322 
Fidelity Freedom Index 2045 Fund     
Investor Class     
Shares sold 63,421,127 31,102,330 $1,226,419,370 $587,084,685 
Reinvestment of distributions 13,723,152 1,281,792 259,452,300 22,141,391 
Shares redeemed (23,283,486) (14,162,066) (439,883,432) (266,043,441) 
Net increase (decrease) 53,860,793 18,222,056 $1,045,988,238 $343,182,635 
Institutional Premium Class     
Shares sold 53,748,851 27,665,080 $1,045,817,692 $521,974,540 
Reinvestment of distributions 14,696,143 1,540,297 278,002,254 26,649,613 
Shares redeemed (19,843,917) (10,564,473) (384,135,477) (201,369,366) 
Net increase (decrease) 48,601,077 18,640,904 $939,684,469 $347,254,787 
Fidelity Freedom Index 2050 Fund     
Investor Class     
Shares sold 53,145,751 27,266,599 $1,033,288,905 $515,705,720 
Reinvestment of distributions 11,562,991 1,103,518 219,075,876 19,161,115 
Shares redeemed (19,380,962) (13,249,805) (370,970,702) (247,155,684) 
Net increase (decrease) 45,327,780 15,120,312 $881,394,079 $287,711,151 
Institutional Premium Class     
Shares sold 52,529,880 26,474,364 $1,026,003,180 $502,180,707 
Reinvestment of distributions 14,213,900 1,473,866 269,304,680 25,619,228 
Shares redeemed (19,354,064) (13,013,944) (377,307,633) (249,087,489) 
Net increase (decrease) 47,389,716 14,934,286 $918,000,227 $278,712,446 
Fidelity Freedom Index 2055 Fund     
Investor Class     
Shares sold 42,884,949 19,363,119 $666,320,479 $289,383,068 
Reinvestment of distributions 5,686,429 633,759 88,362,601 8,717,335 
Shares redeemed (12,997,316) (7,026,163) (199,707,499) (104,209,605) 
Net increase (decrease) 35,574,062 12,970,715 $554,975,581 $193,890,798 
Institutional Premium Class     
Shares sold 28,059,146 15,924,100 $435,730,475 $238,583,757 
Reinvestment of distributions 4,654,087 691,027 72,412,299 9,526,370 
Shares redeemed (9,792,532) (5,791,641) (152,990,179) (87,706,132) 
Net increase (decrease) 22,920,701 10,823,486 $355,152,595 $160,403,995 
Fidelity Freedom Index 2060 Fund     
Investor Class     
Shares sold 22,506,868 9,205,501 $288,991,465 $112,467,080 
Reinvestment of distributions 1,529,667 234,999 20,098,123 2,633,167 
Shares redeemed (6,557,512) (3,307,359) (83,505,195) (39,824,298) 
Net increase (decrease) 17,479,023 6,133,141 $225,584,393 $75,275,949 
Institutional Premium Class     
Shares sold 14,972,083 7,592,609 $192,006,294 $92,988,816 
Reinvestment of distributions 1,154,934 209,909 15,184,958 2,354,810 
Shares redeemed (4,548,333) (2,773,756) (58,476,712) (34,063,299) 
Net increase (decrease) 11,578,684 5,028,762 $148,714,540 $61,280,327 
Fidelity Freedom Index 2065 Fund(a)     
Investor Class     
Shares sold 2,682,829 – $27,307,154 $– 
Reinvestment of distributions 16,987 – 180,404 – 
Shares redeemed (913,567) – (9,606,396) – 
Net increase (decrease) 1,786,249 – $17,881,162 $– 
Institutional Premium Class     
Shares sold 1,235,896 – $12,464,580 $– 
Reinvestment of distributions 9,750 – 103,548 – 
Shares redeemed (95,266) – (962,682) – 
Net increase (decrease) 1,150,380 – $11,605,446 $– 

 (a) 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 the Underlying 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 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 Underlying 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 Series Bond Index Fund  17%  19%  19% 
Fidelity Series Global ex U.S. Index Fund  12%  16%  14%  15%  10% 
Fidelity Series Treasury Bill Index Fund  19%  14% 
Fidelity Series Total Market Index Fund  11%  15%  13%  14%  10% 

The Funds, in aggregate, were the owners of record of more than 20% of the total outstanding shares of the following Underlying Funds.

Fund % of shares held 
Fidelity Series Bond Index Fund 84% 
Fidelity Series Global ex U.S. Index Fund 94% 
Fidelity Series Long-Term Treasury Bond Index Fund 20% 
Fidelity Series Treasury Bill Index Fund 54% 
Fidelity Series Total Market Index Fund 91% 

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 schedule of investments, as of March 31, 2020, 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 Fidelity Freedom Index 2065 Fund; the related statement of operations, the statement of changes in net assets, and the financial highlights for the period from June 28, 2019 (commencement of operations) to March 31, 2020 for the Fidelity Freedom Index 2065 Fund; and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial positions of the Funds as of March 31, 2020, 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 audits 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, 2020, 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 13, 2020


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 279 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. 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 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 Executive Vice President and Chief Investment Officer of Bank of America Corporation. Earlier roles at Bank of America included Director of Research, Senior Portfolio Manager for various institutional equity accounts and mutual funds and Portfolio Manager for a number of institutional fixed-income clients. Mr. Kenneally 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. Mr. Murray currently serves as Vice Chairman of Meijer, Inc. (regional retail chain, 2013-present). Previously, Mr. Murray served as Co-Chief Executive Officer (2013-2016) and President (2006-2013) of Meijer, Inc. Mr. Murray serves as a member of the Board and Nuclear Review and Public Policy and Responsibility Committees of DTE Energy Company (diversified energy company, 2009-present) and 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 previously served as a member of the Board of Spectrum Health (not-for-profit health system, 2015-2019). 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

Elizabeth Paige Baumann (1968)

Year of Election or Appointment: 2017

Anti-Money Laundering (AML) Officer

Ms. Baumann also serves as AML Officer of other funds. She is Chief AML Officer (2012-present) and Senior Vice President (2014-present) of FMR LLC (diversified financial services company) and is an employee of Fidelity Investments. Previously, Ms. Baumann served as AML Officer of certain funds (2017-2019), as AML Officer of the funds (2012-2016), and Vice President (2007-2014) and Deputy Anti-Money Laundering Officer (2007-2012) of FMR LLC.

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).

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). 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).

John B. McGinty, Jr. (1962)

Year of Election or Appointment: 2016

Chief Compliance Officer

Mr. McGinty also serves as Chief Compliance Officer of other funds. Mr. McGinty is Senior Vice President of Asset Management Compliance for Fidelity Investments and is an employee of Fidelity Investments (2016-present). Previously, Mr. McGinty served as Chief Compliance Officer of The North Carolina Capital Management Trust: Cash Portfolio and Term Portfolio (2019). Prior to joining Fidelity Investments, Mr. McGinty served as Vice President, Senior Attorney at Eaton Vance Management (investment management firm, 2015-2016), and prior to Eaton Vance as global CCO for all firm operations and registered investment companies at GMO LLC (investment management firm, 2009-2015). Before joining GMO LLC, Mr. McGinty served as Senior Vice President, Deputy General Counsel for Fidelity Investments (2007-2009).

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2015

Assistant Secretary

Mr. Pogorelec also serves as Assistant Secretary of other funds. Mr. Pogorelec serves as Vice President, Associate General Counsel (2010-present) and is an employee of Fidelity Investments (2006-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 and Chief Investment Officer of Global Asset Allocation and is an employee of Fidelity Investments (2018-present). 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, 2013-2018).

Shareholder Expense Example

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs and (2) ongoing costs, including other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds 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, 2019 to March 31, 2020).

Actual Expenses

The first line of the accompanying table for each Class of each fund 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 of the fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. In addition, each Fund, as a shareholder in underlying Fidelity Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Funds. These fees and expenses are not included in each Fund's annualized expense ratio used to calculate the expense estimates in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each Class of each fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' 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. In addition, each Fund, as a shareholder in underlying Fidelity Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Funds. These fees and expenses are not included in each Fund's annualized expense ratio used to calculate the expense estimates 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, 2019 
Ending
Account Value
March 31, 2020 
Expenses Paid
During Period-B
October 1, 2019
to March 31, 2020 
Fidelity Freedom Index Income Fund     
Investor Class .12%    
Actual  $1,000.00 $995.80 $.60 
Hypothetical-C  $1,000.00 $1,024.40 $.61 
Institutional Premium Class .08%    
Actual  $1,000.00 $996.80 $.40 
Hypothetical-C  $1,000.00 $1,024.60 $.40 
Fidelity Freedom Index 2005 Fund     
Investor Class .12%    
Actual  $1,000.00 $985.90 $.60 
Hypothetical-C  $1,000.00 $1,024.40 $.61 
Institutional Premium Class .08%    
Actual  $1,000.00 $985.50 $.40 
Hypothetical-C  $1,000.00 $1,024.60 $.40 
Fidelity Freedom Index 2010 Fund     
Investor Class .12%    
Actual  $1,000.00 $969.70 $.59 
Hypothetical-C  $1,000.00 $1,024.40 $.61 
Institutional Premium Class .08%    
Actual  $1,000.00 $970.00 $.39 
Hypothetical-C  $1,000.00 $1,024.60 $.40 
Fidelity Freedom Index 2015 Fund     
Investor Class .12%    
Actual  $1,000.00 $954.30 $.59 
Hypothetical-C  $1,000.00 $1,024.40 $.61 
Institutional Premium Class .08%    
Actual  $1,000.00 $954.40 $.39 
Hypothetical-C  $1,000.00 $1,024.60 $.40 
Fidelity Freedom Index 2020 Fund     
Investor Class .12%    
Actual  $1,000.00 $939.70 $.58 
Hypothetical-C  $1,000.00 $1,024.40 $.61 
Institutional Premium Class .08%    
Actual  $1,000.00 $940.60 $.39 
Hypothetical-C  $1,000.00 $1,024.60 $.40 
Fidelity Freedom Index 2025 Fund     
Investor Class .12%    
Actual  $1,000.00 $928.80 $.58 
Hypothetical-C  $1,000.00 $1,024.40 $.61 
Institutional Premium Class .08%    
Actual  $1,000.00 $929.00 $.39 
Hypothetical-C  $1,000.00 $1,024.60 $.40 
Fidelity Freedom Index 2030 Fund     
Investor Class .12%    
Actual  $1,000.00 $912.70 $.57 
Hypothetical-C  $1,000.00 $1,024.40 $.61 
Institutional Premium Class .08%    
Actual  $1,000.00 $912.90 $.38 
Hypothetical-C  $1,000.00 $1,024.60 $.40 
Fidelity Freedom Index 2035 Fund     
Investor Class .12%    
Actual  $1,000.00 $886.00 $.57 
Hypothetical-C  $1,000.00 $1,024.40 $.61 
Institutional Premium Class .08%    
Actual  $1,000.00 $886.30 $.38 
Hypothetical-C  $1,000.00 $1,024.60 $.40 
Fidelity Freedom Index 2040 Fund     
Investor Class .12%    
Actual  $1,000.00 $872.10 $.56 
Hypothetical-C  $1,000.00 $1,024.40 $.61 
Institutional Premium Class .08%    
Actual  $1,000.00 $872.30 $.37 
Hypothetical-C  $1,000.00 $1,024.60 $.40 
Fidelity Freedom Index 2045 Fund     
Investor Class .12%    
Actual  $1,000.00 $872.00 $.56 
Hypothetical-C  $1,000.00 $1,024.40 $.61 
Institutional Premium Class .08%    
Actual  $1,000.00 $872.20 $.37 
Hypothetical-C  $1,000.00 $1,024.60 $.40 
Fidelity Freedom Index 2050 Fund     
Investor Class .12%    
Actual  $1,000.00 $871.90 $.56 
Hypothetical-C  $1,000.00 $1,024.40 $.61 
Institutional Premium Class .08%    
Actual  $1,000.00 $872.20 $.37 
Hypothetical-C  $1,000.00 $1,024.60 $.40 
Fidelity Freedom Index 2055 Fund     
Investor Class .12%    
Actual  $1,000.00 $872.20 $.56 
Hypothetical-C  $1,000.00 $1,024.40 $.61 
Institutional Premium Class .08%    
Actual  $1,000.00 $872.40 $.37 
Hypothetical-C  $1,000.00 $1,024.60 $.40 
Fidelity Freedom Index 2060 Fund     
Investor Class .12%    
Actual  $1,000.00 $872.10 $.56 
Hypothetical-C  $1,000.00 $1,024.40 $.61 
Institutional Premium Class .08%    
Actual  $1,000.00 $872.30 $.37 
Hypothetical-C  $1,000.00 $1,024.60 $.40 
Fidelity Freedom Index 2065 Fund     
Investor Class .12%    
Actual  $1,000.00 $872.30 $.56 
Hypothetical-C  $1,000.00 $1,024.40 $.61 
Institutional Premium Class .08%    
Actual  $1,000.00 $872.40 $.37 
Hypothetical-C  $1,000.00 $1,024.60 $.40 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/ 366 (to reflect the one-half year period). The fees and expenses of the underlying Fidelity Funds in which each Fund invests are not included in each Fund's 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 05/11/20 05/08/20 $0.000 $0.030 
Institutional Premium Class 05/11/20 05/08/20 $0.000 $0.030 
Fidelity Freedom Index 2005 Fund     
Investor Class 05/11/20 05/08/20 $0.040 $0.041 
Institutional Premium Class 05/11/20 05/08/20 $0.041 $0.041 
Fidelity Freedom Index 2010 Fund     
Investor Class 05/11/20 05/08/20 $0.039 $0.060 
Institutional Premium Class 05/11/20 05/08/20 $0.040 $0.060 
Fidelity Freedom Index 2015 Fund     
Investor Class 05/11/20 05/08/20 $0.035 $0.064 
Institutional Premium Class 05/11/20 05/08/20 $0.037 $0.064 
Fidelity Freedom Index 2020 Fund     
Investor Class 05/11/20 05/08/20 $0.033 $0.069 
Institutional Premium Class 05/11/20 05/08/20 $0.035 $0.069 
Fidelity Freedom Index 2025 Fund     
Investor Class 05/11/20 05/08/20 $0.031 $0.065 
Institutional Premium Class 05/11/20 05/08/20 $0.032 $0.065 
Fidelity Freedom Index 2030 Fund     
Investor Class 05/11/20 05/08/20 $0.025 $0.068 
Institutional Premium Class 05/11/20 05/08/20 $0.027 $0.068 
Fidelity Freedom Index 2035 Fund     
Investor Class 05/11/20 05/08/20 $0.013 $0.059 
Institutional Premium Class 05/11/20 05/08/20 $0.015 $0.059 
Fidelity Freedom Index 2040 Fund     
Investor Class 05/11/20 05/08/20 $0.006 $0.058 
Institutional Premium Class 05/11/20 05/08/20 $0.007 $0.058 
Fidelity Freedom Index 2045 Fund     
Investor Class 05/11/20 05/08/20 $0.006 $0.055 
Institutional Premium Class 05/11/20 05/08/20 $0.007 $0.055 
Fidelity Freedom Index 2050 Fund     
Investor Class 05/11/20 05/08/20 $0.006 $0.055 
Institutional Premium Class 05/11/20 05/08/20 $0.007 $0.055 
Fidelity Freedom Index 2055 Fund     
Investor Class 05/11/20 05/08/20 $0.004 $0.038 
Institutional Premium Class 05/11/20 05/08/20 $0.007 $0.038 
Fidelity Freedom Index 2060 Fund     
Investor Class 05/11/20 05/08/20 $0.003 $0.028 
Institutional Premium Class 05/11/20 05/08/20 $0.006 $0.028 
Fidelity Freedom Index 2065 Fund     
Investor Class 05/11/20 05/08/20 $0.002 $0.042 
Institutional Premium Class 05/11/20 05/08/20 $0.003 $0.042 

The funds hereby designate as capital gain dividend the amounts noted below for the taxable year ended March 31, 2020, or, if subsequently determined to be different, the net capital gain of such year.

Fidelity Freedom Index Income Fund $ 23,750,334 
Fidelity Freedom Index 2005 Fund $ 12,371,625 
Fidelity Freedom Index 2010 Fund $ 85,124,245 
Fidelity Freedom Index 2015 Fund $ 223,871,645 
Fidelity Freedom Index 2020 Fund $ 731,605,852 
Fidelity Freedom Index 2025 Fund $ 666,687,012 
Fidelity Freedom Index 2030 Fund $ 976,554,000 
Fidelity Freedom Index 2035 Fund $ 684,153,587 
Fidelity Freedom Index 2040 Fund $ 786,905,475 
Fidelity Freedom Index 2045 Fund $ 434,517,257 
Fidelity Freedom Index 2050 Fund $ 398,633,763 
Fidelity Freedom Index 2055 Fund $ 116,913,477 
Fidelity Freedom Index 2060 Fund $ 20,764,299 
Fidelity Freedom Index 2065 Fund $ 35,829 

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 54.21% 
Fidelity Freedom Index 2005 Fund 50.07% 
Fidelity Freedom Index 2010 Fund 44.83% 
Fidelity Freedom Index 2015 Fund 39.43% 
Fidelity Freedom Index 2020 Fund 32.71% 
Fidelity Freedom Index 2025 Fund 28.89% 
Fidelity Freedom Index 2030 Fund 23.30% 
Fidelity Freedom Index 2035 Fund 17.79% 
Fidelity Freedom Index 2040 Fund 15.58% 
Fidelity Freedom Index 2045 Fund 15.57% 
Fidelity Freedom Index 2050 Fund 15.56% 
Fidelity Freedom Index 2055 Fund 15.63% 
Fidelity Freedom Index 2060 Fund 15.67% 
Fidelity Freedom Index 2065 Fund  14.56% 

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 
Fidelity Freedom Index Income Fund   
April 2019 0% 0% 
May 2019 6% 5% 
June 2019 7% 7% 
July 2019 8% 7% 
August 2019 7% 7% 
September 2019 8% 7% 
October 2019 8% 7% 
November 2019 7% 7% 
December 2019 8% 7% 
February 2020 0% 0% 
March 2020 0% 0% 
Fidelity Freedom Index 2005 Fund   
May 2019 0% 0% 
December 2019 10% 10% 
Fidelity Freedom Index 2010 Fund   
May 2019 0% 0% 
December 2019 16% 16% 
Fidelity Freedom Index 2015 Fund   
May 2019 0% 0% 
December 2019 18% 18% 
Fidelity Freedom Index 2020 Fund   
May 2019 1% 1% 
December 2019 20% 20% 
Fidelity Freedom Index 2025 Fund   
May 2019 1% 1% 
December 2019 21% 20% 
Fidelity Freedom Index 2030 Fund   
May 2019 1% 1% 
December 2019 24% 23% 
Fidelity Freedom Index 2035 Fund   
May 2019 2% 2% 
December 2019 26% 26% 
Fidelity Freedom Index 2040 Fund   
May 2019 2% 2% 
December 2019 29% 29% 
Fidelity Freedom Index 2045 Fund   
May 2019 4% 4% 
December 2019 28% 27% 
Fidelity Freedom Index 2050 Fund   
May 2019 3% 3% 
December 2019 28% 28% 
Fidelity Freedom Index 2055 Fund   
May 2019 4% 3% 
December 2019 30% 30% 
Fidelity Freedom Index 2060 Fund   
May 2019 5% 4% 
December 2019 25% 25% 
Fidelity Freedom Index 2065 Fund   
May 2019 0% 0% 
December 2019 26% 26% 

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 
Fidelity Freedom Index Income Fund   
April 2019 0% 0% 
May 2019 10% 10% 
June 2019 13% 13% 
July 2019 14% 13% 
August 2019 13% 13% 
September 2019 14% 13% 
October 2019 14% 13% 
November 2019 13% 13% 
December 2019 14% 13% 
February 2020 0% 0% 
March 2020 0% 0% 
Fidelity Freedom Index 2005 Fund   
May 2019 1% 1% 
December 2019 17% 17% 
Fidelity Freedom Index 2010 Fund   
May 2019 1% 1% 
December 2019 27% 26% 
Fidelity Freedom Index 2015 Fund   
May 2019 1% 1% 
December 2019 30% 29% 
Fidelity Freedom Index 2020 Fund   
May 2019 2% 2% 
December 2019 33% 32% 
Fidelity Freedom Index 2025 Fund   
May 2019 2% 2% 
December 2019 34% 34% 
Fidelity Freedom Index 2030 Fund   
May 2019 2% 2% 
December 2019 39% 39% 
Fidelity Freedom Index 2035 Fund   
May 2019 5% 4% 
December 2019 44% 44% 
Fidelity Freedom Index 2040 Fund   
May 2019 4% 3% 
December 2019 49% 48% 
Fidelity Freedom Index 2045 Fund   
May 2019 7% 6% 
December 2019 46% 46% 
Fidelity Freedom Index 2050 Fund   
May 2019 6% 5% 
December 2019 47% 47% 
Fidelity Freedom Index 2055 Fund   
May 2019 6% 5% 
December 2019 43% 43% 
Fidelity Freedom Index 2060 Fund   
May 2019 9% 8% 
December 2019 43% 43% 
Fidelity Freedom Index 2065 Fund   
May 2019 0% 0% 
December 2019 54% 53% 

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 
Fidelity Freedom Index Income Fund   
April 2019 0% 0% 
May 2019 1% 1% 
June 2019 1% 1% 
July 2019 1% 1% 
August 2019 1% 1% 
September 2019 1% 1% 
October 2019 1% 1% 
November 2019 1% 1% 
December 2019 1% 1% 
February 2020 0% 0% 
March 2020 0% 0% 
Fidelity Freedom Index 2005 Fund   
May 2019 1% 1% 
December 2019 1% 1% 
Fidelity Freedom Index 2010 Fund   
May 2019 1% 1% 
December 2019 2% 2% 
Fidelity Freedom Index 2015 Fund   
May 2019 1% 1% 
December 2019 2% 2% 
Fidelity Freedom Index 2020 Fund   
May 2019 1% 1% 
December 2019 2% 2% 
Fidelity Freedom Index 2025 Fund   
May 2019 1% 1% 
December 2019 2% 2% 
Fidelity Freedom Index 2030 Fund   
May 2019 1% 1% 
December 2019 2% 2% 
Fidelity Freedom Index 2035 Fund   
May 2019 1% 1% 
December 2019 2% 2% 
Fidelity Freedom Index 2040 Fund   
May 2019 1% 1% 
December 2019 3% 3% 
Fidelity Freedom Index 2045 Fund   
May 2019 1% 1% 
December 2019 3% 3% 
Fidelity Freedom Index 2050 Fund   
May 2019 1% 1% 
December 2019 3% 3% 
Fidelity Freedom Index 2055 Fund   
May 2019 1% 1% 
December 2019 2% 2% 
Fidelity Freedom Index 2060 Fund   
May 2019 1% 1% 
December 2019 2% 2% 
Fidelity Freedom Index 2065 Fund   
May 2019 0% 0% 
December 2019 3% 3% 

The funds will notify shareholders in January 2021 of amounts for use in preparing 2020 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, 2018 through November 30, 2019. 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.





Fidelity Investments

FRX-ANN-0520
1.899264.110




Fidelity Flex® Freedom Blend Funds (formerly Fidelity Flex℠ Freedom Funds) - Income, 2005, 2010, 2015, 2020, 2025, 2030, 2035, 2040, 2045, 2050, 2055, 2060, 2065

















Annual Report

March 31, 2020

Fidelity Investments
See the inside front cover for important information about access to your fund’s shareholder reports.


Fidelity Investments

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary, such as a financial advisor, broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a fund electronically, by contacting your financial intermediary. For Fidelity customers, visit Fidelity's web site or call Fidelity using the contact information listed below.

You may elect to receive all future reports in paper free of charge. If you wish to continue receiving paper copies of your shareholder reports, you may contact your financial intermediary or, if you are a Fidelity customer, visit Fidelity’s website, or call Fidelity at the applicable toll-free number listed below. Your election to receive reports in paper will apply to all funds held with the fund complex/your financial intermediary.

Account Type Website Phone Number 
Brokerage, Mutual Fund, or Annuity Contracts: fidelity.com/mailpreferences 1-800-343-3548 
Employer Provided Retirement Accounts: netbenefits.fidelity.com/preferences (choose 'no' under Required Disclosures to continue to print) 1-800-343-0860 
Advisor Sold Accounts Serviced Through Your Financial Intermediary: Contact Your Financial Intermediary Your Financial Intermediary's phone number 
Advisor Sold Accounts Serviced by Fidelity: institutional.fidelity.com 1-877-208-0098 


Contents

Note to Shareholders

Performance

Management's Discussion of Fund Performance

Fidelity Flex® Freedom Blend Income Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Flex® Freedom Blend 2005 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Flex® Freedom Blend 2010 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Flex® Freedom Blend 2015 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Flex® Freedom Blend 2020 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Flex® Freedom Blend 2025 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Flex® Freedom Blend 2030 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Flex® Freedom Blend 2035 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Flex® Freedom Blend 2040 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Flex® Freedom Blend 2045 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Flex® Freedom Blend 2050 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Flex® Freedom Blend 2055 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Flex® Freedom Blend 2060 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Flex® Freedom Blend 2065 Fund

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Report of Independent Registered Public Accounting Firm

Trustees and Officers

Shareholder Expense Example

Distributions

Liquidity Risk Management Program


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. © 2020 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:
(No Action is Required by You)

As part of a regular review of its organizational structure, Fidelity has decided to merge certain entities to streamline operations, increase efficiency, simplify reporting, and reduce legal, compliance, and accounting complexity and costs. In separate events, Fidelity has merged four of its investment advisers and two of its broker-dealers.

Effective on or about January 1, 2020, following any required regulatory notices and approvals:

Investment advisers Fidelity Investments Money Management, Inc., FMR Co., Inc., and Fidelity SelectCo, LLC, merged with and into Fidelity Management & Research Company. In connection with the merger transactions, the resulting, merged investment adviser was then redomiciled from Massachusetts to Delaware, changed its corporate structure from a corporation to a limited liability company, and changed its name to “Fidelity Management & Research Company LLC”.

Broker-dealer Fidelity Distributors Corporation merged with and into Fidelity Investments Institutional Services Company, Inc. (“FIISC”). FIISC was then redomiciled from Massachusetts to Delaware, changed its corporate structure from a corporation to a limited liability company, and changed its name to “Fidelity Distributors Company LLC”.

These mergers are not expected to affect fund shareholders or Fidelity clients, nor are they expected to result in any changes to the day-to-day management of Fidelity’s brokerage services, the Fidelity funds, their investment policies and practices, their portfolio management teams, or the funds’ expenses.

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 corporate earnings. The virus causes a respiratory disease known as COVID-19. On March 11, 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, the U.S. government took unprecedented action – in concert with the U.S. Federal Reserve and central banks around the world – to help support consumers, businesses, and the broader economy, and to limit disruption to the financial system.

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

For the periods ended March 31, 2020 Past 1 year Life of fundA 
Fidelity Flex® Freedom Blend Income Fund 2.17% 3.18% 

 A From June 8, 2017

$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

$10,921Fidelity Flex® Freedom Blend Income Fund

$11,336Bloomberg 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

For the periods ended March 31, 2020 Past 1 year Life of fundA 
Fidelity Flex® Freedom Blend 2005 Fund 1.29% 3.20% 

 A From June 8, 2017

$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

$10,927Fidelity Flex® Freedom Blend 2005 Fund

$11,336Bloomberg 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

For the periods ended March 31, 2020 Past 1 year Life of fundA 
Fidelity Flex® Freedom Blend 2010 Fund (0.34)% 2.91% 

 A From June 8, 2017

$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

$10,841Fidelity Flex® Freedom Blend 2010 Fund

$11,336Bloomberg 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

For the periods ended March 31, 2020 Past 1 year Life of fundA 
Fidelity Flex® Freedom Blend 2015 Fund (1.91)% 2.63% 

 A From June 8, 2017

$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

$10,757Fidelity Flex® Freedom Blend 2015 Fund

$11,336Bloomberg 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

For the periods ended March 31, 2020 Past 1 year Life of fundA 
Fidelity Flex® Freedom Blend 2020 Fund (3.23)% 2.32% 

 A From June 8, 2017

$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

$10,666Fidelity Flex® Freedom Blend 2020 Fund

$11,226S&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

For the periods ended March 31, 2020 Past 1 year Life of fundA 
Fidelity Flex® Freedom Blend 2025 Fund (4.34)% 2.08% 

 A From June 8, 2017

$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

$10,595Fidelity Flex® Freedom Blend 2025 Fund

$11,226S&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

For the periods ended March 31, 2020 Past 1 year Life of fundA 
Fidelity Flex® Freedom Blend 2030 Fund (5.88)% 1.89% 

 A From June 8, 2017

$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

$10,541Fidelity Flex® Freedom Blend 2030 Fund

$11,226S&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

For the periods ended March 31, 2020 Past 1 year Life of fundA 
Fidelity Flex® Freedom Blend 2035 Fund (8.74)% 1.03% 

 A From June 8, 2017

$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

$10,294Fidelity Flex® Freedom Blend 2035 Fund

$11,226S&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

For the periods ended March 31, 2020 Past 1 year Life of fundA 
Fidelity Flex® Freedom Blend 2040 Fund (10.27)% 0.40% 

 A From June 8, 2017

$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

$10,114Fidelity Flex® Freedom Blend 2040 Fund

$11,226S&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

For the periods ended March 31, 2020 Past 1 year Life of fundA 
Fidelity Flex® Freedom Blend 2045 Fund (10.26)% 0.41% 

 A From June 8, 2017

$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

$10,115Fidelity Flex® Freedom Blend 2045 Fund

$11,226S&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

For the periods ended March 31, 2020 Past 1 year Life of fundA 
Fidelity Flex® Freedom Blend 2050 Fund (10.25)% 0.40% 

 A From June 8, 2017

$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

$10,114Fidelity Flex® Freedom Blend 2050 Fund

$11,226S&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

For the periods ended March 31, 2020 Past 1 year Life of fundA 
Fidelity Flex® Freedom Blend 2055 Fund (10.24)% 0.41% 

 A From June 8, 2017

$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

$10,117Fidelity Flex® Freedom Blend 2055 Fund

$11,226S&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

For the periods ended March 31, 2020 Past 1 year Life of fundA 
Fidelity Flex® Freedom Blend 2060 Fund (10.24)% 0.41% 

 A From June 8, 2017

$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

$10,115Fidelity Flex® Freedom Blend 2060 Fund

$11,226S&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 for Fidelity Flex® Freedom Blend 2065 Fund will be reported once the fund is a year old.

$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

$8,690Fidelity Flex® Freedom Blend 2065 Fund

$8,918S&P 500® Index

Management's Discussion of Fund Performance

Market Recap:  The performance of financial assets during the 12-month period ending March 31, 2020 was significantly influenced by the outbreak and spread of a novel coronavirus in the first quarter of 2020. The outbreak curtailed global economic growth and the outlook for corporate earnings in domestic and foreign markets. Declared a pandemic on March 11, the crisis and containment efforts led to increased uncertainty, broad-based contraction in economic activity, higher volatility, and dislocation in the financial markets as investors digested new information. The shift in the backdrop snapped a favorable longer-term stretch for global assets. For the year ending March 31, 2020, the Dow Jones U.S. Total Stock Market Index returned -9.28% for the period, pressured by the spreading coronavirus and related “stay at home” guidelines from federal and state officials. By mid-March, the U.S. stock market entered bear-market territory less than a month after hitting an all-time high. Energy (-55%) fared worst, whereas information technology (+7%) stood out as the only sector with a gain. The defensive-oriented consumer staples and health care sectors (-2% each) held up reasonably well. Large-cap stocks outpaced smaller-caps, while growth outpaced value. Elsewhere, commodities lagged equities. Non-U.S. equities returned -15.42% for the 12 months, according to the MSCI ACWI (All Country World Index) ex USA Index (Net MA). With the exception of Japan (-6%), all regions experienced a double-digit decline. The U.K. and Asia Pacific ex Japan (-23% each) fared worst, followed by Canada (-19%) and emerging markets (-17%). Europe ex U.K. returned -12%. By sector, notable laggards included energy (-37%) and real estate (-26%), whereas health care led with a 5% gain. Turning to fixed income, U.S. taxable investment-grade bonds (the Bloomberg Barclays U.S. Aggregate Bond Index) advanced 8.93%, as investors generally sought their perceived safety. Within the index, U.S. Treasury bonds led the way (+13%). Mortgage-backed securities and Treasury Inflation-Protected Securities (+7% each) lagged, as did corporate bonds (+5%). Notable underperformers included extended (non-core) categories, including floating-rate bank loans (-10%), high-yield bonds (-7%) and emerging-markets debt (-5%).

Comments from Co-Portfolio Managers Andrew Dierdorf and Brett Sumsion:  For the fiscal year, shares of each Fidelity Flex Freedom® Blend Fund posted a return, ranging from 2.17% for Fidelity Flex Freedom Blend Income Fund to -10.27% for Fidelity Flex Freedom Blend 2040 Fund. Each Fund lagged its Composite index. Active asset allocation decisions drove the majority of the Funds’ underperformance relative to Composite indexes during the past 12 months. The performance of the underlying investment portfolios slightly held back the Funds' relative results, but to a much lesser extent. More specifically, underweighting investment-grade bonds, which performed relatively well, held back the Funds’ performance versus Composites. Exposure to poor-performing commodities, which are not in the Composite indexes, also hurt, as did an overweighting in non-U.S. equities – one of the weaker-performing asset classes. Meanwhile, underweighting lagging U.S. equities contributed to the Funds’ relative performance. Overweight allocations to inflation-protected securities and short-term securities also helped, as both asset classes had a positive return. In terms of investment performance, our holdings in U.S. equities, in aggregate, hurt most. Here, our investments in Fidelity® Series Intrinsic Opportunities Fund and Fidelity® Series Large Cap Stock Fund were notable detractors this period. In addition, our investment in Fidelity® Series Investment Grade Bond Fund also held back the Funds' relative results. Conversely, the performance of underlying non-U.S. equity funds, in aggregate, contributed. Among non-U.S. equities, investments in both developed-markets equities and emerging-markets stocks added value. In particular, investments in Fidelity® Series Emerging Markets Fund and Fidelity® Series International Growth Fund were notable contributors, as each outperformed its benchmark.

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.

Notes to Shareholders:  Received approval at the May 2019 FIAA Board meeting to modify the strategic equity asset allocation (“glide path”) of Fidelity’s target date funds, adjusting the mix of U.S./non-U.S. equity exposure from 70%/30% to 60%/40%. (Note that the total equity percentage is not changing.)

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, 2020

 % of fund's net assets 
Fidelity Series Treasury Bill Index Fund 16.4 
Fidelity Series Inflation-Protected Bond Index Fund 12.1 
Fidelity Series Government Bond Index Fund 11.9 
Fidelity Series Investment Grade Bond Fund 11.6 
Fidelity Series Investment Grade Securitized Fund 8.1 
Fidelity Series Corporate Bond Fund 7.7 
Fidelity Series Government Money Market Fund 0.4% 5.1 
Fidelity Series Short-Term Credit Fund 4.8 
Fidelity Series Emerging Markets Opportunities Fund 4.1 
Fidelity Series Commodity Strategy Fund 3.4 
 85.2 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 7.1% 
   International Equity Funds 10.8% 
   Bond Funds 55.8% 
   Short-Term Funds 26.3% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 7.1%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 69 $890 
Fidelity Series Commodity Strategy Fund (a) 1,016 3,707 
Fidelity Series Large Cap Growth Index Fund (a) 62 619 
Fidelity Series Large Cap Stock Fund (a) 53 640 
Fidelity Series Large Cap Value Index Fund (a) 128 1,226 
Fidelity Series Small Cap Opportunities Fund (a) 29 296 
Fidelity Series Value Discovery Fund (a) 36 355 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $9,523)  7,733 
International Equity Funds - 10.8%   
Fidelity Series Canada Fund (a) 69 576 
Fidelity Series Emerging Markets Fund (a) 64 452 
Fidelity Series Emerging Markets Opportunities Fund (a) 288 4,491 
Fidelity Series International Growth Fund (a) 121 1,755 
Fidelity Series International Index Fund (a) 78 643 
Fidelity Series International Small Cap Fund (a) 38 508 
Fidelity Series International Value Fund (a) 243 1,734 
Fidelity Series Overseas Fund (a) 194 1,676 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $14,126)  11,835 
Bond Funds - 55.8%   
Fidelity Series Corporate Bond Fund (a) 822 8,355 
Fidelity Series Emerging Markets Debt Fund (a) 85 685 
Fidelity Series Floating Rate High Income Fund (a) 18 146 
Fidelity Series Government Bond Index Fund (a) 1,154 13,027 
Fidelity Series High Income Fund (a) 91 748 
Fidelity Series Inflation-Protected Bond Index Fund (a) 1,308 13,187 
Fidelity Series International Credit Fund (a) 56 
Fidelity Series Investment Grade Bond Fund (a) 1,103 12,723 
Fidelity Series Investment Grade Securitized Fund (a) 841 8,863 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 253 2,700 
Fidelity Series Real Estate Income Fund (a) 49 412 
TOTAL BOND FUNDS   
(Cost $59,596)  60,902 
Short-Term Funds - 26.3%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 5,568 5,568 
Fidelity Series Short-Term Credit Fund (a) 528 5,217 
Fidelity Series Treasury Bill Index Fund (a) 1,791 17,984 
TOTAL SHORT-TERM FUNDS   
(Cost $28,758)  28,769 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $112,003)  109,239 
NET OTHER ASSETS (LIABILITIES) - 0.0%  
NET ASSETS - 100%  $109,239 

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 All-Sector Equity Fund $354 $50 $426 $-- $(47) $69 $-- 
Fidelity Series Blue Chip Growth Fund 649 1,581 1,309 77 56 (87) 890 
Fidelity Series Canada Fund 267 477 17 (152) 576 
Fidelity Series Commodity Strategy Fund 3,191 1,803 271 60 (27) (989) 3,707 
Fidelity Series Corporate Bond Fund -- 9,256 459 190 10 (452) 8,355 
Fidelity Series Emerging Markets Debt Fund 750 132 84 44 (7) (106) 685 
Fidelity Series Emerging Markets Fund 379 250 21 13 -- (156) 452 
Fidelity Series Emerging Markets Opportunities Fund 3,431 2,268 433 125 10 (785) 4,491 
Fidelity Series Floating Rate High Income Fund 161 -- (22) 146 
Fidelity Series Government Bond Index Fund -- 12,784 556 168 13 786 13,027 
Fidelity Series Government Money Market Fund 0.4% 19,073 4,148 17,653 270 -- -- 5,568 
Fidelity Series Growth Company Fund 1,298 29 1,379 -- 123 (71) -- 
Fidelity Series High Income Fund 805 55 53 -- (105) 748 
Fidelity Series Inflation-Protected Bond Index Fund 14,228 782 2,276 194 44 409 13,187 
Fidelity Series International Credit Fund 54 -- -- (2) 56 
Fidelity Series International Growth Fund 2,489 447 1,178 79 66 (69) 1,755 
Fidelity Series International Index Fund -- 797 14 -- (151) 643 
Fidelity Series International Small Cap Fund 597 62 76 28 -- (75) 508 
Fidelity Series International Value Fund 2,473 631 929 87 (59) (382) 1,734 
Fidelity Series Intrinsic Opportunities Fund 1,595 178 1,717 58 (96) 40 -- 
Fidelity Series Investment Grade Bond Fund 39,905 1,977 30,543 813 751 633 12,723 
Fidelity Series Investment Grade Securitized Fund -- 9,212 471 200 120 8,863 
Fidelity Series Large Cap Growth Index Fund -- 1,507 878 15 29 (39) 619 
Fidelity Series Large Cap Stock Fund 1,380 381 979 89 (37) (105) 640 
Fidelity Series Large Cap Value Index Fund 386 2,883 1,587 149 (148) (308) 1,226 
Fidelity Series Long-Term Treasury Bond Index Fund 4,854 600 3,481 298 342 385 2,700 
Fidelity Series Opportunistic Insights Fund 698 17 750 -- 45 (10) -- 
Fidelity Series Overseas Fund -- 1,912 -- -- (236) 1,676 
Fidelity Series Real Estate Income Fund 501 33 -- 33 -- (122) 412 
Fidelity Series Short-Term Credit Fund 4,769 560 60 138 -- (52) 5,217 
Fidelity Series Small Cap Discovery Fund 187 14 205 -- -- 
Fidelity Series Small Cap Opportunities Fund 573 201 373 36 (36) (69) 296 
Fidelity Series Stock Selector Large Cap Value Fund 1,051 95 1,209 -- (3) 66 -- 
Fidelity Series Treasury Bill Index Fund -- 17,981 64 140 -- 67 17,984 
Fidelity Series Value Discovery Fund 743 202 493 34 (27) (70) 355 
 $106,841 $73,317 $69,888 $3,432 $1,005 $(2,036) $109,239 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $112,003) $109,239  
Total Investment in Securities (cost $112,003)  $109,239 
Total assets  109,239 
Liabilities   
Net Assets  $109,239 
Net Assets consist of:   
Paid in capital  $111,563 
Total accumulated earnings (loss)  (2,324) 
Net Assets  $109,239 
Net Asset Value, offering price and redemption price per share ($109,239 ÷ 11,155 shares)  $9.79 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $2,561 
Expenses   
Independent trustees' fees and expenses $1  
Total expenses  
Net investment income (loss)  2,560 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 1,005  
Capital gain distributions from underlying funds:   
Affiliated issuers 871  
Total net realized gain (loss)  1,876 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (2,036)  
Total change in net unrealized appreciation (depreciation)  (2,036) 
Net gain (loss)  (160) 
Net increase (decrease) in net assets resulting from operations  $2,400 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,560 $2,605 
Net realized gain (loss) 1,876 1,606 
Change in net unrealized appreciation (depreciation) (2,036) (563) 
Net increase (decrease) in net assets resulting from operations 2,400 3,648 
Distributions to shareholders (4,839) (4,468) 
Share transactions   
Reinvestment of distributions 4,839 4,468 
Net increase (decrease) in net assets resulting from share transactions 4,839 4,468 
Total increase (decrease) in net assets 2,400 3,648 
Net Assets   
Beginning of period 106,839 103,191 
End of period $109,239 $106,839 
Other Information   
Shares   
Sold – – 
Issued in reinvestment of distributions 477 456 
Net increase (decrease) 477 456 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Flex Freedom Blend Income Fund

    
Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.01 $10.09 $10.00 
Income from Investment Operations    
Net investment income (loss)B .23 .25 .18 
Net realized and unrealized gain (loss) C .10 .13 
Total from investment operations .23 .35 .31 
Distributions from net investment income (.24) (.25) (.16) 
Distributions from net realized gain (.21) (.18) (.06) 
Total distributions (.45) (.43) (.22) 
Net asset value, end of period $9.79 $10.01 $10.09 
Total ReturnD 2.17% 3.63% 3.14% 
Ratios to Average Net AssetsE,F    
Expenses before reductions - %G - %G - %H 
Expenses net of fee waivers, if any - %G - %G - %H 
Expenses net of all reductions - %G - %G - %H 
Net investment income (loss) 2.31% 2.51% 2.21%H 
Supplemental Data    
Net assets, end of period (000 omitted) $109 $107 $103 
Portfolio turnover rateF 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 $.0005 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Amount represents less than .005%.

 H Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Treasury Bill Index Fund 14.7 
Fidelity Series Government Bond Index Fund 11.2 
Fidelity Series Inflation-Protected Bond Index Fund 11.0 
Fidelity Series Investment Grade Bond Fund 11.0 
Fidelity Series Investment Grade Securitized Fund 7.6 
Fidelity Series Corporate Bond Fund 7.3 
Fidelity Series Emerging Markets Opportunities Fund 4.7 
Fidelity Series Government Money Market Fund 0.4% 4.5 
Fidelity Series Short-Term Credit Fund 4.2 
Fidelity Series Commodity Strategy Fund 3.4 
 79.6 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 10.8% 
   International Equity Funds 13.3% 
   Bond Funds 52.5% 
   Short-Term Funds 23.4% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 10.8%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 134 $1,723 
Fidelity Series Commodity Strategy Fund (a) 1,016 3,707 
Fidelity Series Large Cap Growth Index Fund (a) 124 1,249 
Fidelity Series Large Cap Stock Fund (a) 108 1,294 
Fidelity Series Large Cap Value Index Fund (a) 254 2,438 
Fidelity Series Small Cap Opportunities Fund (a) 61 624 
Fidelity Series Value Discovery Fund (a) 74 739 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $14,403)  11,774 
International Equity Funds - 13.3%   
Fidelity Series Canada Fund (a) 87 721 
Fidelity Series Emerging Markets Fund (a) 74 522 
Fidelity Series Emerging Markets Opportunities Fund (a) 331 5,153 
Fidelity Series International Growth Fund (a) 160 2,316 
Fidelity Series International Index Fund (a) 101 827 
Fidelity Series International Small Cap Fund (a) 49 653 
Fidelity Series International Value Fund (a) 308 2,200 
Fidelity Series Overseas Fund (a) 245 2,115 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $17,320)  14,507 
Bond Funds - 52.5%   
Fidelity Series Corporate Bond Fund (a) 779 7,918 
Fidelity Series Emerging Markets Debt Fund (a) 85 685 
Fidelity Series Floating Rate High Income Fund (a) 18 148 
Fidelity Series Government Bond Index Fund (a) 1,086 12,258 
Fidelity Series High Income Fund (a) 92 755 
Fidelity Series Inflation-Protected Bond Index Fund (a) 1,194 12,031 
Fidelity Series International Credit Fund (a) 57 
Fidelity Series Investment Grade Bond Fund (a) 1,043 12,029 
Fidelity Series Investment Grade Securitized Fund (a) 790 8,330 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 254 2,711 
Fidelity Series Real Estate Income Fund (a) 50 417 
TOTAL BOND FUNDS   
(Cost $56,117)  57,339 
Short-Term Funds - 23.4%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 4,900 4,900 
Fidelity Series Short-Term Credit Fund (a) 466 4,605 
Fidelity Series Treasury Bill Index Fund (a) 1,604 16,102 
TOTAL SHORT-TERM FUNDS   
(Cost $25,596)  25,607 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $113,436)  109,227 
NET OTHER ASSETS (LIABILITIES) - 0.0%  
NET ASSETS - 100%  $109,227 

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 All-Sector Equity Fund $599 $57 $694 $-- $(83) $121 $-- 
Fidelity Series Blue Chip Growth Fund 1,076 2,385 1,652 128 74 (160) 1,723 
Fidelity Series Canada Fund 357 525 12 10 -- (149) 721 
Fidelity Series Commodity Strategy Fund 3,221 1,792 278 60 (34) (994) 3,707 
Fidelity Series Corporate Bond Fund -- 8,837 499 181 (427) 7,918 
Fidelity Series Emerging Markets Debt Fund 757 124 82 44 (6) (108) 685 
Fidelity Series Emerging Markets Fund 475 251 21 15 -- (183) 522 
Fidelity Series Emerging Markets Opportunities Fund 4,295 2,191 428 145 13 (918) 5,153 
Fidelity Series Floating Rate High Income Fund 162 10 -- (23) 148 
Fidelity Series Government Bond Index Fund -- 12,224 727 159 20 741 12,258 
Fidelity Series Government Money Market Fund 0.4% 16,087 4,223 15,410 231 -- -- 4,900 
Fidelity Series Growth Company Fund 2,181 36 2,303 -- 212 (126) -- 
Fidelity Series High Income Fund 812 54 54 -- (106) 755 
Fidelity Series Inflation-Protected Bond Index Fund 12,403 1,091 1,859 177 31 365 12,031 
Fidelity Series International Credit Fund 55 -- -- (2) 57 
Fidelity Series International Growth Fund 3,325 633 1,619 104 67 (90) 2,316 
Fidelity Series International Index Fund -- 1,025 19 -- (194) 827 
Fidelity Series International Small Cap Fund 797 45 84 36 (3) (102) 653 
Fidelity Series International Value Fund 3,303 669 1,189 115 (98) (485) 2,200 
Fidelity Series Intrinsic Opportunities Fund 2,679 209 2,794 96 (161) 67 -- 
Fidelity Series Investment Grade Bond Fund 37,236 2,575 29,079 765 704 593 12,029 
Fidelity Series Investment Grade Securitized Fund -- 8,817 602 190 113 8,330 
Fidelity Series Large Cap Growth Index Fund -- 2,389 1,095 24 39 (84) 1,249 
Fidelity Series Large Cap Stock Fund 2,323 512 1,280 147 (20) (241) 1,294 
Fidelity Series Large Cap Value Index Fund 649 4,469 1,855 244 (120) (705) 2,438 
Fidelity Series Long-Term Treasury Bond Index Fund 5,082 613 3,734 301 369 381 2,711 
Fidelity Series Opportunistic Insights Fund 1,173 36 1,271 -- 75 (13) -- 
Fidelity Series Overseas Fund -- 2,409 -- -- (294) 2,115 
Fidelity Series Real Estate Income Fund 506 35 -- 33 -- (124) 417 
Fidelity Series Short-Term Credit Fund 4,023 694 64 119 -- (48) 4,605 
Fidelity Series Small Cap Discovery Fund 313 14 335 -- 
Fidelity Series Small Cap Opportunities Fund 963 351 500 59 (40) (150) 624 
Fidelity Series Stock Selector Large Cap Value Fund 1,768 85 1,958 -- (1) 106 -- 
Fidelity Series Treasury Bill Index Fund -- 16,104 61 123 -- 59 16,102 
Fidelity Series Value Discovery Fund 1,253 320 653 56 (23) (158) 739 
 $107,873 $75,808 $72,148 $3,661 $1,025 $(3,331) $109,227 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $113,436) $109,227  
Total Investment in Securities (cost $113,436)  $109,227 
Total assets  109,227 
Liabilities   
Net Assets  $109,227 
Net Assets consist of:   
Paid in capital  $112,629 
Total accumulated earnings (loss)  (3,402) 
Net Assets  $109,227 
Net Asset Value, offering price and redemption price per share ($109,227 ÷ 11,265 shares)  $9.70 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $2,592 
Expenses   
Independent trustees' fees and expenses $1  
Total expenses  
Net investment income (loss)  2,591 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 1,025  
Capital gain distributions from underlying funds:   
Affiliated issuers 1,069  
Total net realized gain (loss)  2,094 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (3,331)  
Total change in net unrealized appreciation (depreciation)  (3,331) 
Net gain (loss)  (1,237) 
Net increase (decrease) in net assets resulting from operations  $1,354 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,591 $2,602 
Net realized gain (loss) 2,094 2,179 
Change in net unrealized appreciation (depreciation) (3,331) (1,151) 
Net increase (decrease) in net assets resulting from operations 1,354 3,630 
Distributions to shareholders (5,390) (5,040) 
Share transactions   
Reinvestment of distributions 5,390 5,040 
Net increase (decrease) in net assets resulting from share transactions 5,390 5,040 
Total increase (decrease) in net assets 1,354 3,630 
Net Assets   
Beginning of period 107,873 104,243 
End of period $109,227 $107,873 
Other Information   
Shares   
Sold – – 
Issued in reinvestment of distributions 531 519 
Net increase (decrease) 531 519 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Flex Freedom Blend 2005 Fund

    
Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.05 $10.21 $10.00 
Income from Investment Operations    
Net investment income (loss)B .24 .25 .18 
Net realized and unrealized gain (loss) (.09) .08 .25 
Total from investment operations .15 .33 .43 
Distributions from net investment income (.25) (.25) (.14) 
Distributions from net realized gain (.25) (.24) (.08) 
Total distributions (.50) (.49) (.22) 
Net asset value, end of period $9.70 $10.05 $10.21 
Total ReturnC 1.29% 3.43% 4.29% 
Ratios to Average Net AssetsD,E    
Expenses before reductions - %F - %F - %G 
Expenses net of fee waivers, if any - %F - %F - %G 
Expenses net of all reductions - %F - %F - %G 
Net investment income (loss) 2.31% 2.49% 2.21%G 
Supplemental Data    
Net assets, end of period (000 omitted) $109 $108 $104 
Portfolio turnover rateE 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 Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Amount represents less than .005%.

 G Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Treasury Bill Index Fund 12.3 
Fidelity Series Government Bond Index Fund 10.1 
Fidelity Series Investment Grade Bond Fund 9.9 
Fidelity Series Inflation-Protected Bond Index Fund 9.5 
Fidelity Series Investment Grade Securitized Fund 6.9 
Fidelity Series Corporate Bond Fund 6.6 
Fidelity Series Emerging Markets Opportunities Fund 5.6 
Fidelity Series Large Cap Value Index Fund 3.9 
Fidelity Series Government Money Market Fund 0.4% 3.6 
Fidelity Series Short-Term Credit Fund 3.4 
 71.8 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 16.3% 
   International Equity Funds 17.0% 
   Bond Funds 47.4% 
   Short-Term Funds 19.3% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 16.3%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 229 $2,958 
Fidelity Series Commodity Strategy Fund (a) 1,008 3,680 
Fidelity Series Large Cap Growth Index Fund (a) 218 2,184 
Fidelity Series Large Cap Stock Fund (a) 189 2,266 
Fidelity Series Large Cap Value Index Fund (a) 440 4,232 
Fidelity Series Small Cap Opportunities Fund (a) 110 1,112 
Fidelity Series Value Discovery Fund (a) 132 1,310 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $21,595)  17,742 
International Equity Funds - 17.0%   
Fidelity Series Canada Fund (a) 118 978 
Fidelity Series Emerging Markets Fund (a) 88 621 
Fidelity Series Emerging Markets Opportunities Fund (a) 393 6,114 
Fidelity Series International Growth Fund (a) 209 3,022 
Fidelity Series International Index Fund (a) 133 1,089 
Fidelity Series International Small Cap Fund (a) 67 893 
Fidelity Series International Value Fund (a) 403 2,876 
Fidelity Series Overseas Fund (a) 324 2,801 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $22,092)  18,394 
Bond Funds - 47.4%   
Fidelity Series Corporate Bond Fund (a) 698 7,095 
Fidelity Series Emerging Markets Debt Fund (a) 84 680 
Fidelity Series Floating Rate High Income Fund (a) 19 150 
Fidelity Series Government Bond Index Fund (a) 973 10,982 
Fidelity Series High Income Fund (a) 93 764 
Fidelity Series Inflation-Protected Bond Index Fund (a) 1,023 10,317 
Fidelity Series International Credit Fund (a) 57 
Fidelity Series Investment Grade Bond Fund (a) 932 10,748 
Fidelity Series Investment Grade Securitized Fund (a) 708 7,464 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 252 2,692 
Fidelity Series Real Estate Income Fund (a) 50 422 
TOTAL BOND FUNDS   
(Cost $50,278)  51,371 
Short-Term Funds - 19.3%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 3,890 3,890 
Fidelity Series Short-Term Credit Fund (a) 377 3,721 
Fidelity Series Treasury Bill Index Fund (a) 1,328 13,332 
TOTAL SHORT-TERM FUNDS   
(Cost $20,935)  20,943 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $114,900)  108,450 
NET OTHER ASSETS (LIABILITIES) - 0.0%  
NET ASSETS - 100%  $108,450 

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 All-Sector Equity Fund $881 $62 $999 $-- $(108) $164 $-- 
Fidelity Series Blue Chip Growth Fund 1,587 3,456 1,906 194 80 (259) 2,958 
Fidelity Series Canada Fund 461 792 26 13 (250) 978 
Fidelity Series Commodity Strategy Fund 3,246 1,784 312 61 (46) (992) 3,680 
Fidelity Series Corporate Bond Fund -- 8,117 640 165 (383) 7,095 
Fidelity Series Emerging Markets Debt Fund 762 114 79 44 (6) (111) 680 
Fidelity Series Emerging Markets Fund 584 272 14 17 -- (221) 621 
Fidelity Series Emerging Markets Opportunities Fund 5,285 2,309 394 173 11 (1,097) 6,114 
Fidelity Series Floating Rate High Income Fund 163 10 -- 10 -- (23) 150 
Fidelity Series Government Bond Index Fund -- 11,238 950 145 30 664 10,982 
Fidelity Series Government Money Market Fund 0.4% 12,791 3,726 12,627 185 -- -- 3,890 
Fidelity Series Growth Company Fund 3,217 53 3,399 -- 317 (188) -- 
Fidelity Series High Income Fund 819 54 54 -- (107) 764 
Fidelity Series Inflation-Protected Bond Index Fund 10,235 1,175 1,421 154 17 311 10,317 
Fidelity Series International Credit Fund 56 -- -- (2) 57 
Fidelity Series International Growth Fund 4,296 790 2,080 138 134 (118) 3,022 
Fidelity Series International Index Fund -- 1,349 25 -- (257) 1,089 
Fidelity Series International Small Cap Fund 1,030 106 100 49 (6) (137) 893 
Fidelity Series International Value Fund 4,268 877 1,509 153 (101) (659) 2,876 
Fidelity Series Intrinsic Opportunities Fund 3,953 251 4,063 146 (240) 99 -- 
Fidelity Series Investment Grade Bond Fund 33,629 2,787 26,846 689 640 538 10,748 
Fidelity Series Investment Grade Securitized Fund -- 8,098 739 173 102 7,464 
Fidelity Series Large Cap Growth Index Fund -- 3,691 1,401 37 43 (149) 2,184 
Fidelity Series Large Cap Stock Fund 3,426 720 1,432 223 (5) (443) 2,266 
Fidelity Series Large Cap Value Index Fund 956 6,578 1,926 376 (82) (1,294) 4,232 
Fidelity Series Long-Term Treasury Bond Index Fund 5,340 680 4,105 311 403 374 2,692 
Fidelity Series Opportunistic Insights Fund 1,730 27 1,845 -- 116 (28) -- 
Fidelity Series Overseas Fund -- 3,234 -- -- (433) 2,801 
Fidelity Series Real Estate Income Fund 510 38 34 -- (125) 422 
Fidelity Series Short-Term Credit Fund 3,198 627 65 96 -- (39) 3,721 
Fidelity Series Small Cap Discovery Fund 463 15 489 10 10 -- 
Fidelity Series Small Cap Opportunities Fund 1,420 579 569 89 (42) (276) 1,112 
Fidelity Series Stock Selector Large Cap Value Fund 2,610 104 2,870 -- (3) 159 -- 
Fidelity Series Treasury Bill Index Fund -- 13,345 61 99 -- 48 13,332 
Fidelity Series Value Discovery Fund 1,848 529 756 87 (18) (293) 1,310 
 $108,764 $77,590 $73,629 $3,962 $1,140 $(5,415) $108,450 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $114,900) $108,450  
Total Investment in Securities (cost $114,900)  $108,450 
Total assets  108,450 
Liabilities   
Net Assets  $108,450 
Net Assets consist of:   
Paid in capital  $113,878 
Total accumulated earnings (loss)  (5,428) 
Net Assets  $108,450 
Net Asset Value, offering price and redemption price per share ($108,450 ÷ 11,387 shares)  $9.52 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $2,628 
Expenses   
Independent trustees' fees and expenses $1  
Total expenses  
Net investment income (loss)  2,627 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 1,140  
Capital gain distributions from underlying funds:   
Affiliated issuers 1,334  
Total net realized gain (loss)  2,474 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (5,415)  
Total change in net unrealized appreciation (depreciation)  (5,415) 
Net gain (loss)  (2,941) 
Net increase (decrease) in net assets resulting from operations  $(314) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,627 $2,593 
Net realized gain (loss) 2,474 2,753 
Change in net unrealized appreciation (depreciation) (5,415) (1,739) 
Net increase (decrease) in net assets resulting from operations (314) 3,607 
Distributions to shareholders (5,958) (5,511) 
Share transactions   
Reinvestment of distributions 5,958 5,511 
Net increase (decrease) in net assets resulting from share transactions 5,958 5,511 
Total increase (decrease) in net assets (314) 3,607 
Net Assets   
Beginning of period 108,764 105,157 
End of period $108,450 $108,764 
Other Information   
Shares   
Sold – – 
Issued in reinvestment of distributions 585 568 
Net increase (decrease) 585 568 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Flex Freedom Blend 2010 Fund

    
Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.07 $10.28 $10.00 
Income from Investment Operations    
Net investment income (loss)B .24 .25 .19 
Net realized and unrealized gain (loss) (.24) .07 .33 
Total from investment operations C .32 .52 
Distributions from net investment income (.25) (.25) (.15) 
Distributions from net realized gain (.30) (.29) (.10) 
Total distributions (.55) (.53)D (.24)E 
Net asset value, end of period $9.52 $10.07 $10.28 
Total ReturnF (.34)% 3.40% 5.20% 
Ratios to Average Net AssetsG,H    
Expenses before reductions - %I - %I - %J 
Expenses net of fee waivers, if any - %I - %I - %J 
Expenses net of all reductions - %I - %I - %J 
Net investment income (loss) 2.32% 2.46% 2.22%J 
Supplemental Data    
Net assets, end of period (000 omitted) $108 $109 $105 
Portfolio turnover rateH 65% 23% 13%J 

 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 $.0005 per share.

 D Total distributions of $.53 per share is comprised of distributions from net investment income of $.246 and distributions from net realized gain of $.286 per share.

 E Total distributions of $.24 per share is comprised of distributions from net investment income of $.146 and distributions from net realized gain of $.095 per share.

 F Total returns for periods of less than one year are not annualized.

 G Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Amount represents less than .005%.

 J Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Treasury Bill Index Fund 9.8 
Fidelity Series Government Bond Index Fund 9.0 
Fidelity Series Investment Grade Bond Fund 8.7 
Fidelity Series Inflation-Protected Bond Index Fund 8.3 
Fidelity Series Emerging Markets Opportunities Fund 6.5 
Fidelity Series Investment Grade Securitized Fund 6.1 
Fidelity Series Corporate Bond Fund 5.8 
Fidelity Series Large Cap Value Index Fund 5.5 
Fidelity Series Blue Chip Growth Fund 3.9 
Fidelity Series International Growth Fund 3.4 
 67.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 21.9% 
   International Equity Funds 20.6% 
   Bond Funds 42.3% 
   Short-Term Funds 15.2% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 21.9%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 323 $4,171 
Fidelity Series Commodity Strategy Fund (a) 1,000 3,651 
Fidelity Series Large Cap Growth Index Fund (a) 309 3,099 
Fidelity Series Large Cap Stock Fund (a) 268 3,217 
Fidelity Series Large Cap Value Index Fund (a) 623 5,990 
Fidelity Series Small Cap Opportunities Fund (a) 157 1,589 
Fidelity Series Value Discovery Fund (a) 188 1,867 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $28,668)  23,584 
International Equity Funds - 20.6%   
Fidelity Series Canada Fund (a) 149 1,238 
Fidelity Series Emerging Markets Fund (a) 103 727 
Fidelity Series Emerging Markets Opportunities Fund (a) 452 7,032 
Fidelity Series International Growth Fund (a) 256 3,711 
Fidelity Series International Index Fund (a) 166 1,359 
Fidelity Series International Small Cap Fund (a) 82 1,096 
Fidelity Series International Value Fund (a) 496 3,542 
Fidelity Series Overseas Fund (a) 401 3,473 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $26,609)  22,178 
Bond Funds - 42.3%   
Fidelity Series Corporate Bond Fund (a) 614 6,240 
Fidelity Series Emerging Markets Debt Fund (a) 84 675 
Fidelity Series Floating Rate High Income Fund (a) 19 151 
Fidelity Series Government Bond Index Fund (a) 855 9,656 
Fidelity Series High Income Fund (a) 94 772 
Fidelity Series Inflation-Protected Bond Index Fund (a) 884 8,907 
Fidelity Series International Credit Fund (a) 58 
Fidelity Series Investment Grade Bond Fund (a) 816 9,410 
Fidelity Series Investment Grade Securitized Fund (a) 623 6,566 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 251 2,684 
Fidelity Series Real Estate Income Fund (a) 50 425 
TOTAL BOND FUNDS   
(Cost $44,592)  45,544 
Short-Term Funds - 15.2%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 3,003 3,003 
Fidelity Series Short-Term Credit Fund (a) 284 2,803 
Fidelity Series Treasury Bill Index Fund (a) 1,046 10,499 
TOTAL SHORT-TERM FUNDS   
(Cost $16,294)  16,305 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $116,163)  107,611 
NET OTHER ASSETS (LIABILITIES) - 0.0%  
NET ASSETS - 100%  $107,611 

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 All-Sector Equity Fund $1,172 $65 $1,311 $-- $(168) $242 $-- 
Fidelity Series Blue Chip Growth Fund 2,112 4,422 2,088 261 90 (365) 4,171 
Fidelity Series Canada Fund 567 951 16 16 -- (264) 1,238 
Fidelity Series Commodity Strategy Fund 3,270 1,755 325 62 (57) (992) 3,651 
Fidelity Series Corporate Bond Fund -- 7,311 731 147 (3) (337) 6,240 
Fidelity Series Emerging Markets Debt Fund 768 99 73 45 (6) (113) 675 
Fidelity Series Emerging Markets Fund 671 335 23 20 -- (256) 727 
Fidelity Series Emerging Markets Opportunities Fund 6,070 2,566 325 201 (1,285) 7,032 
Fidelity Series Floating Rate High Income Fund 165 -- 10 -- (23) 151 
Fidelity Series Government Bond Index Fund -- 10,122 1,086 130 35 585 9,656 
Fidelity Series Government Money Market Fund 0.4% 9,832 3,296 10,125 142 -- -- 3,003 
Fidelity Series Growth Company Fund 4,276 58 4,504 -- 422 (252) -- 
Fidelity Series High Income Fund 825 55 -- 55 -- (108) 772 
Fidelity Series Inflation-Protected Bond Index Fund 8,072 1,639 1,063 133 251 8,907 
Fidelity Series International Credit Fund 57 -- -- (2) 58 
Fidelity Series International Growth Fund 5,284 951 2,466 174 90 (148) 3,711 
Fidelity Series International Index Fund -- 1,683 31 -- (323) 1,359 
Fidelity Series International Small Cap Fund 1,267 203 193 61 (13) (168) 1,096 
Fidelity Series International Value Fund 5,250 1,077 1,816 192 (148) (821) 3,542 
Fidelity Series Intrinsic Opportunities Fund 5,248 279 5,338 196 (323) 134 -- 
Fidelity Series Investment Grade Bond Fund 29,732 2,907 24,273 616 569 475 9,410 
Fidelity Series Investment Grade Securitized Fund -- 7,294 821 155 90 6,566 
Fidelity Series Large Cap Growth Index Fund -- 4,906 1,644 50 50 (213) 3,099 
Fidelity Series Large Cap Stock Fund 4,537 897 1,579 300 (646) 3,217 
Fidelity Series Large Cap Value Index Fund 1,269 8,716 2,061 512 (59) (1,875) 5,990 
Fidelity Series Long-Term Treasury Bond Index Fund 5,489 730 4,340 316 442 363 2,684 
Fidelity Series Opportunistic Insights Fund 2,297 27 2,440 -- 142 (26) -- 
Fidelity Series Overseas Fund -- 3,968 -- 10 -- (495) 3,473 
Fidelity Series Real Estate Income Fund 514 39 34 -- (126) 425 
Fidelity Series Short-Term Credit Fund 2,458 551 178 72 (29) 2,803 
Fidelity Series Small Cap Discovery Fund 615 15 644 13 (3) 17 -- 
Fidelity Series Small Cap Opportunities Fund 1,888 791 637 120 (41) (412) 1,589 
Fidelity Series Stock Selector Large Cap Value Fund 3,465 42 3,711 -- (7) 211 -- 
Fidelity Series Treasury Bill Index Fund -- 10,521 59 75 -- 37 10,499 
Fidelity Series Value Discovery Fund 2,451 672 812 119 (17) (427) 1,867 
 $109,621 $78,955 $74,685 $4,272 $1,021 $(7,301) $107,611 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $116,163) $107,611  
Total Investment in Securities (cost $116,163)  $107,611 
Total assets  107,611 
Liabilities   
Net Assets  $107,611 
Net Assets consist of:   
Paid in capital  $115,083 
Total accumulated earnings (loss)  (7,472) 
Net Assets  $107,611 
Net Asset Value, offering price and redemption price per share ($107,611 ÷ 11,504 shares)  $9.35 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $2,668 
Expenses   
Independent trustees' fees and expenses $1  
Total expenses  
Net investment income (loss)  2,667 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 1,021  
Capital gain distributions from underlying funds:   
Affiliated issuers 1,604  
Total net realized gain (loss)  2,625 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (7,301)  
Total change in net unrealized appreciation (depreciation)  (7,301) 
Net gain (loss)  (4,676) 
Net increase (decrease) in net assets resulting from operations  $(2,009) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,667 $2,582 
Net realized gain (loss) 2,625 3,377 
Change in net unrealized appreciation (depreciation) (7,301) (2,392) 
Net increase (decrease) in net assets resulting from operations (2,009) 3,567 
Distributions to shareholders (6,490) (5,994) 
Share transactions   
Reinvestment of distributions 6,490 5,994 
Net increase (decrease) in net assets resulting from share transactions 6,490 5,994 
Total increase (decrease) in net assets (2,009) 3,567 
Net Assets   
Beginning of period 109,620 106,053 
End of period $107,611 $109,620 
Other Information   
Shares   
Sold – – 
Issued in reinvestment of distributions 636 618 
Net increase (decrease) 636 618 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Flex Freedom Blend 2015 Fund

    
Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.09 $10.35 $10.00 
Income from Investment Operations    
Net investment income (loss)B .24 .24 .19 
Net realized and unrealized gain (loss) (.39) .08 .42 
Total from investment operations (.15) .32 .61 
Distributions from net investment income (.25) (.24) (.15) 
Distributions from net realized gain (.34) (.33) (.11) 
Total distributions (.59) (.58)C (.26) 
Net asset value, end of period $9.35 $10.09 $10.35 
Total ReturnD (1.91)% 3.37% 6.09% 
Ratios to Average Net AssetsE,F    
Expenses before reductions - %G - %G - %H 
Expenses net of fee waivers, if any - %G - %G - %H 
Expenses net of all reductions - %G - %G - %H 
Net investment income (loss) 2.34% 2.43% 2.21%H 
Supplemental Data    
Net assets, end of period (000 omitted) $108 $110 $106 
Portfolio turnover rateF 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 of $.58 per share is comprised of distributions from net investment income of $.244 and distributions from net realized gain of $.333 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Amount represents less than .005%.

 H Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Government Bond Index Fund 7.9 
Fidelity Series Investment Grade Bond Fund 7.7 
Fidelity Series Treasury Bill Index Fund 7.5 
Fidelity Series Emerging Markets Opportunities Fund 7.3 
Fidelity Series Large Cap Value Index Fund 7.1 
Fidelity Series Inflation-Protected Bond Index Fund 7.1 
Fidelity Series Investment Grade Securitized Fund 5.4 
Fidelity Series Corporate Bond Fund 5.1 
Fidelity Series Blue Chip Growth Fund 4.9 
Fidelity Series International Growth Fund 4.1 
 64.1 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 27.0% 
   International Equity Funds 23.9% 
   Bond Funds 37.6% 
   Short-Term Funds 11.5% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 27.0%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 407 $5,247 
Fidelity Series Commodity Strategy Fund (a) 991 3,618 
Fidelity Series Large Cap Growth Index Fund (a) 389 3,908 
Fidelity Series Large Cap Stock Fund (a) 338 4,057 
Fidelity Series Large Cap Value Index Fund (a) 785 7,546 
Fidelity Series Small Cap Opportunities Fund (a) 198 2,010 
Fidelity Series Value Discovery Fund (a) 238 2,359 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $34,925)  28,745 
International Equity Funds - 23.9%   
Fidelity Series Canada Fund (a) 174 1,442 
Fidelity Series Emerging Markets Fund (a) 115 816 
Fidelity Series Emerging Markets Opportunities Fund (a) 502 7,822 
Fidelity Series International Growth Fund (a) 299 4,328 
Fidelity Series International Index Fund (a) 195 1,602 
Fidelity Series International Small Cap Fund (a) 95 1,271 
Fidelity Series International Value Fund (a) 579 4,131 
Fidelity Series Overseas Fund (a) 470 4,061 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $30,707)  25,473 
Bond Funds - 37.6%   
Fidelity Series Corporate Bond Fund (a) 537 5,456 
Fidelity Series Emerging Markets Debt Fund (a) 83 668 
Fidelity Series Floating Rate High Income Fund (a) 19 151 
Fidelity Series Government Bond Index Fund (a) 748 8,442 
Fidelity Series High Income Fund (a) 94 775 
Fidelity Series Inflation-Protected Bond Index Fund (a) 748 7,541 
Fidelity Series International Credit Fund (a) 70 
Fidelity Series Investment Grade Bond Fund (a) 710 8,185 
Fidelity Series Investment Grade Securitized Fund (a) 545 5,743 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 250 2,673 
Fidelity Series Real Estate Income Fund (a) 51 425 
TOTAL BOND FUNDS   
(Cost $39,315)  40,129 
Short-Term Funds - 11.5%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 2,285 2,285 
Fidelity Series Short-Term Credit Fund (a) 201 1,986 
Fidelity Series Treasury Bill Index Fund (a) 798 8,013 
TOTAL SHORT-TERM FUNDS   
(Cost $12,275)  12,284 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $117,222)  106,631 
NET OTHER ASSETS (LIABILITIES) - 0.0%  
NET ASSETS - 100%  $106,631 

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 All-Sector Equity Fund $1,415 $43 $1,545 $-- $(187) $274 $-- 
Fidelity Series Blue Chip Growth Fund 2,561 5,356 2,322 317 112 (460) 5,247 
Fidelity Series Canada Fund 657 1,134 13 19 -- (336) 1,442 
Fidelity Series Commodity Strategy Fund 3,285 1,733 345 63 (68) (987) 3,618 
Fidelity Series Corporate Bond Fund -- 6,524 768 131 (6) (294) 5,456 
Fidelity Series Emerging Markets Debt Fund 770 87 68 45 (5) (116) 668 
Fidelity Series Emerging Markets Fund 746 378 20 23 -- (288) 816 
Fidelity Series Emerging Markets Opportunities Fund 6,759 2,787 273 227 10 (1,461) 7,822 
Fidelity Series Floating Rate High Income Fund 163 11 -- 10 -- (23) 151 
Fidelity Series Government Bond Index Fund -- 9,042 1,151 115 39 512 8,442 
Fidelity Series Government Money Market Fund 0.4% 7,418 3,050 8,183 106 -- -- 2,285 
Fidelity Series Growth Company Fund 5,179 117 5,504 -- 497 (289) -- 
Fidelity Series High Income Fund 829 57 56 -- (109) 775 
Fidelity Series Inflation-Protected Bond Index Fund 5,994 2,448 1,098 113 189 7,541 
Fidelity Series International Credit Fund 69 -- -- (3) 70 
Fidelity Series International Growth Fund 6,126 964 2,740 205 156 (178) 4,328 
Fidelity Series International Index Fund -- 1,984 -- 37 -- (382) 1,602 
Fidelity Series International Small Cap Fund 1,469 299 311 71 (3) (183) 1,271 
Fidelity Series International Value Fund 6,086 1,271 2,073 227 (176) (977) 4,131 
Fidelity Series Intrinsic Opportunities Fund 6,350 293 6,409 242 (396) 162 -- 
Fidelity Series Investment Grade Bond Fund 26,338 2,801 21,876 545 504 418 8,185 
Fidelity Series Investment Grade Securitized Fund -- 6,518 857 138 79 5,743 
Fidelity Series Large Cap Growth Index Fund -- 5,998 1,873 62 53 (270) 3,908 
Fidelity Series Large Cap Stock Fund 5,488 1,083 1,696 367 (823) 4,057 
Fidelity Series Large Cap Value Index Fund 1,534 10,625 2,170 634 (52) (2,391) 7,546 
Fidelity Series Long-Term Treasury Bond Index Fund 5,638 778 4,560 320 459 358 2,673 
Fidelity Series Opportunistic Insights Fund 2,791 32 2,963 -- 174 (34) -- 
Fidelity Series Overseas Fund -- 4,706 -- 11 -- (645) 4,061 
Fidelity Series Real Estate Income Fund 516 40 34 -- (126) 425 
Fidelity Series Short-Term Credit Fund 1,855 457 307 53 (20) 1,986 
Fidelity Series Small Cap Discovery Fund 734 16 767 16 (4) 21 -- 
Fidelity Series Small Cap Opportunities Fund 2,281 991 690 147 (45) (527) 2,010 
Fidelity Series Stock Selector Large Cap Value Fund 4,193 80 4,525 -- (2) 254 -- 
Fidelity Series Treasury Bill Index Fund -- 8,037 51 54 -- 27 8,013 
Fidelity Series Value Discovery Fund 2,964 834 875 147 (18) (546) 2,359 
Total $110,208 $80,578 $76,040 $4,539 $1,059 $(9,174) $106,631 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $117,222) $106,631  
Total Investment in Securities (cost $117,222)  $106,631 
Total assets  106,631 
Liabilities   
Net Assets  $106,631 
Net Assets consist of:   
Paid in capital  $115,996 
Total accumulated earnings (loss)  (9,365) 
Net Assets  $106,631 
Net Asset Value, offering price and redemption price per share ($106,631 ÷ 11,594 shares)  $9.20 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $2,698 
Expenses   
Independent trustees' fees and expenses $1  
Total expenses  
Net investment income (loss)  2,697 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 1,059  
Capital gain distributions from underlying funds:   
Affiliated issuers 1,841  
Total net realized gain (loss)  2,900 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (9,174)  
Total change in net unrealized appreciation (depreciation)  (9,174) 
Net gain (loss)  (6,274) 
Net increase (decrease) in net assets resulting from operations  $(3,577) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,697 $2,576 
Net realized gain (loss) 2,900 3,834 
Change in net unrealized appreciation (depreciation) (9,174) (2,888) 
Net increase (decrease) in net assets resulting from operations (3,577) 3,522 
Distributions to shareholders (6,956) (6,307) 
Share transactions   
Reinvestment of distributions 6,956 6,307 
Net increase (decrease) in net assets resulting from share transactions 6,956 6,307 
Total increase (decrease) in net assets (3,577) 3,522 
Net Assets   
Beginning of period 110,208 106,686 
End of period $106,631 $110,208 
Other Information   
Shares   
Sold – – 
Issued in reinvestment of distributions 681 651 
Net increase (decrease) 681 651 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Flex Freedom Blend 2020 Fund

    
Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.10 $10.40 $10.00 
Income from Investment Operations    
Net investment income (loss)B .24 .24 .19 
Net realized and unrealized gain (loss) (.51) .07 .48 
Total from investment operations (.27) .31 .67 
Distributions from net investment income (.25) (.24) (.16) 
Distributions from net realized gain (.38) (.36) (.12) 
Total distributions (.63) (.61)C (.27)D 
Net asset value, end of period $9.20 $10.10 $10.40 
Total ReturnE (3.23)% 3.28% 6.72% 
Ratios to Average Net AssetsF,G    
Expenses before reductions - %H - %H - %I 
Expenses net of fee waivers, if any - %H - %H - %I 
Expenses net of all reductions - %H - %H - %I 
Net investment income (loss) 2.35% 2.41% 2.22%I 
Supplemental Data    
Net assets, end of period (000 omitted) $107 $110 $107 
Portfolio turnover rateG 67% 22% 14%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 Total distributions of $.61 per share is comprised of distributions from net investment income of $.243 and distributions from net realized gain of $.363 per share.

 D Total distributions of $.27 per share is comprised of distributions from net investment income of $.157 and distributions from net realized gain of $.116 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Amount represents less than .005%.

 I Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 8.3 
Fidelity Series Emerging Markets Opportunities Fund 8.0 
Fidelity Series Government Bond Index Fund 7.1 
Fidelity Series Investment Grade Bond Fund 6.9 
Fidelity Series Inflation-Protected Bond Index Fund 6.4 
Fidelity Series Blue Chip Growth Fund 5.7 
Fidelity Series Treasury Bill Index Fund 5.4 
Fidelity Series Investment Grade Securitized Fund 4.9 
Fidelity Series Corporate Bond Fund 4.6 
Fidelity Series International Growth Fund 4.5 
 61.8 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 30.9% 
   International Equity Funds 26.4% 
   Bond Funds 34.4% 
   Short-Term Funds 8.3% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 30.9%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 472 $6,087 
Fidelity Series Commodity Strategy Fund (a) 985 3,596 
Fidelity Series Large Cap Growth Index Fund (a) 453 4,544 
Fidelity Series Large Cap Stock Fund (a) 393 4,708 
Fidelity Series Large Cap Value Index Fund (a) 911 8,756 
Fidelity Series Small Cap Opportunities Fund (a) 230 2,333 
Fidelity Series Value Discovery Fund (a) 276 2,738 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $39,825)  32,762 
International Equity Funds - 26.4%   
Fidelity Series Canada Fund (a) 198 1,639 
Fidelity Series Emerging Markets Fund (a) 124 879 
Fidelity Series Emerging Markets Opportunities Fund (a) 542 8,438 
Fidelity Series International Growth Fund (a) 330 4,785 
Fidelity Series International Index Fund (a) 219 1,797 
Fidelity Series International Small Cap Fund (a) 106 1,413 
Fidelity Series International Value Fund (a) 642 4,587 
Fidelity Series Overseas Fund (a) 519 4,490 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $33,853)  28,028 
Bond Funds - 34.4%   
Fidelity Series Corporate Bond Fund (a) 482 4,894 
Fidelity Series Emerging Markets Debt Fund (a) 82 664 
Fidelity Series Floating Rate High Income Fund (a) 19 153 
Fidelity Series Government Bond Index Fund (a) 670 7,568 
Fidelity Series High Income Fund (a) 94 779 
Fidelity Series Inflation-Protected Bond Index Fund (a) 668 6,733 
Fidelity Series International Credit Fund (a) 71 
Fidelity Series Investment Grade Bond Fund (a) 633 7,300 
Fidelity Series Investment Grade Securitized Fund (a) 489 5,153 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 251 2,680 
Fidelity Series Real Estate Income Fund (a) 51 427 
TOTAL BOND FUNDS   
(Cost $35,712)  36,422 
Short-Term Funds - 8.3%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 1,764 1,764 
Fidelity Series Short-Term Credit Fund (a) 125 1,231 
Fidelity Series Treasury Bill Index Fund (a) 575 5,777 
TOTAL SHORT-TERM FUNDS   
(Cost $8,765)  8,772 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $118,155)  105,984 
NET OTHER ASSETS (LIABILITIES) - 0.0%  
NET ASSETS - 100%  $105,985 

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 All-Sector Equity Fund $1,637 $24 $1,762 $-- $(242) $343 $-- 
Fidelity Series Blue Chip Growth Fund 2,947 6,108 2,551 369 120 (537) 6,087 
Fidelity Series Canada Fund 734 1,272 12 22 -- (355) 1,639 
Fidelity Series Commodity Strategy Fund 3,301 1,706 349 63 (70) (992) 3,596 
Fidelity Series Corporate Bond Fund -- 5,949 784 119 (7) (264) 4,894 
Fidelity Series Emerging Markets Debt Fund 774 75 62 45 (4) (119) 664 
Fidelity Series Emerging Markets Fund 810 405 22 25 -- (314) 879 
Fidelity Series Emerging Markets Opportunities Fund 7,333 2,916 222 248 (1,595) 8,438 
Fidelity Series Floating Rate High Income Fund 164 12 -- 10 -- (23) 153 
Fidelity Series Government Bond Index Fund -- 8,230 1,160 104 39 459 7,568 
Fidelity Series Government Money Market Fund 0.4% 5,119 3,014 6,369 73 -- -- 1,764 
Fidelity Series Growth Company Fund 5,970 114 6,325 -- 569 (328) -- 
Fidelity Series High Income Fund 833 59 55 -- (109) 779 
Fidelity Series Inflation-Protected Bond Index Fund 4,810 2,826 1,063 100 154 6,733 
Fidelity Series International Credit Fund 69 -- -- (3) 71 
Fidelity Series International Growth Fund 6,847 1,152 3,176 232 156 (194) 4,785 
Fidelity Series International Index Fund -- 2,227 -- 42 -- (430) 1,797 
Fidelity Series International Small Cap Fund 1,642 265 253 81 (22) (219) 1,413 
Fidelity Series International Value Fund 6,801 1,349 2,267 257 (199) (1,097) 4,587 
Fidelity Series Intrinsic Opportunities Fund 7,331 426 7,485 284 (474) 202 -- 
Fidelity Series Investment Grade Bond Fund 22,523 3,928 19,929 475 414 364 7,300 
Fidelity Series Investment Grade Securitized Fund -- 5,934 855 125 71 5,153 
Fidelity Series Large Cap Growth Index Fund -- 6,716 1,920 72 64 (316) 4,544 
Fidelity Series Large Cap Stock Fund 6,355 1,120 1,806 425 (965) 4,708 
Fidelity Series Large Cap Value Index Fund 1,773 12,133 2,301 734 (52) (2,797) 8,756 
Fidelity Series Long-Term Treasury Bond Index Fund 6,228 906 5,368 330 596 318 2,680 
Fidelity Series Opportunistic Insights Fund 3,212 30 3,405 -- 197 (34) -- 
Fidelity Series Overseas Fund -- 5,214 -- 13 -- (724) 4,490 
Fidelity Series Real Estate Income Fund 519 41 34 -- (127) 427 
Fidelity Series Short-Term Credit Fund 1,280 385 425 34 (12) 1,231 
Fidelity Series Small Cap Discovery Fund 847 19 884 19 (4) 22 -- 
Fidelity Series Small Cap Opportunities Fund 2,637 1,141 777 169 (50) (618) 2,333 
Fidelity Series Stock Selector Large Cap Value Fund 4,841 38 5,168 -- (10) 299 -- 
Fidelity Series Treasury Bill Index Fund -- 5,792 33 34 -- 18 5,777 
Fidelity Series Value Discovery Fund 3,423 937 958 171 (19) (645) 2,738 
Total $110,760 $82,468 $77,701 $4,768 $1,024 $(10,567) $105,984 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $118,155) $105,984  
Total Investment in Securities (cost $118,155)  $105,984 
Cash  
Total assets  105,985 
Liabilities   
Net Assets  $105,985 
Net Assets consist of:   
Paid in capital  $116,886 
Total accumulated earnings (loss)  (10,901) 
Net Assets  $105,985 
Net Asset Value, offering price and redemption price per share ($105,985 ÷ 11,681 shares)  $9.07 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $2,719 
Expenses   
Independent trustees' fees and expenses $1  
Total expenses  
Net investment income (loss)  2,718 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 1,024  
Capital gain distributions from underlying funds:   
Affiliated issuers 2,049  
Total net realized gain (loss)  3,073 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (10,567)  
Total change in net unrealized appreciation (depreciation)  (10,567) 
Net gain (loss)  (7,494) 
Net increase (decrease) in net assets resulting from operations  $(4,776) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,718 $2,553 
Net realized gain (loss) 3,073 4,301 
Change in net unrealized appreciation (depreciation) (10,567) (3,382) 
Net increase (decrease) in net assets resulting from operations (4,776) 3,472 
Distributions to shareholders (7,426) (6,609) 
Share transactions   
Reinvestment of distributions 7,426 6,609 
Net increase (decrease) in net assets resulting from share transactions 7,426 6,609 
Total increase (decrease) in net assets (4,776) 3,472 
Net Assets   
Beginning of period 110,761 107,289 
End of period $105,985 $110,761 
Other Information   
Shares   
Sold – – 
Issued in reinvestment of distributions 726 683 
Net increase (decrease) 726 683 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Flex Freedom Blend 2025 Fund

    
Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.11 $10.44 $10.00 
Income from Investment Operations    
Net investment income (loss)B .24 .24 .19 
Net realized and unrealized gain (loss) (.61) .06 .54 
Total from investment operations (.37) .30 .73 
Distributions from net investment income (.24) (.24) (.16) 
Distributions from net realized gain (.42) (.39) (.13) 
Total distributions (.67)C (.63) (.29) 
Net asset value, end of period $9.07 $10.11 $10.44 
Total ReturnD (4.34)% 3.28% 7.24% 
Ratios to Average Net AssetsE,F    
Expenses before reductions - %G - %G - %H 
Expenses net of fee waivers, if any - %G - %G - %H 
Expenses net of all reductions - %G - %G - %H 
Net investment income (loss) 2.35% 2.37% 2.20%H 
Supplemental Data    
Net assets, end of period (000 omitted) $106 $111 $107 
Portfolio turnover rateF 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 of $.67 per share is comprised of distributions from net investment income of $.244 and distributions from net realized gain of $.423 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Amount represents less than .005%.

 H Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 9.9 
Fidelity Series Emerging Markets Opportunities Fund 8.8 
Fidelity Series Blue Chip Growth Fund 6.9 
Fidelity Series Government Bond Index Fund 6.1 
Fidelity Series Investment Grade Bond Fund 5.8 
Fidelity Series Large Cap Stock Fund 5.3 
Fidelity Series Inflation-Protected Bond Index Fund 5.3 
Fidelity Series Large Cap Growth Index Fund 5.2 
Fidelity Series International Growth Fund 5.2 
Fidelity Series International Value Fund 4.9 
 63.4 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 36.5% 
   International Equity Funds 30.0% 
   Bond Funds 29.7% 
   Short-Term Funds 3.8% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 36.5%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 564 $7,273 
Fidelity Series Commodity Strategy Fund (a) 980 3,578 
Fidelity Series Large Cap Growth Index Fund (a) 543 5,455 
Fidelity Series Large Cap Stock Fund (a) 468 5,613 
Fidelity Series Large Cap Value Index Fund (a) 1,089 10,463 
Fidelity Series Small Cap Opportunities Fund (a) 273 2,775 
Fidelity Series Value Discovery Fund (a) 328 3,258 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $46,793)  38,415 
International Equity Funds - 30.0%   
Fidelity Series Canada Fund (a) 225 1,868 
Fidelity Series Emerging Markets Fund (a) 140 993 
Fidelity Series Emerging Markets Opportunities Fund (a) 595 9,262 
Fidelity Series International Growth Fund (a) 376 5,450 
Fidelity Series International Index Fund (a) 254 2,084 
Fidelity Series International Small Cap Fund (a) 123 1,651 
Fidelity Series International Value Fund (a) 729 5,206 
Fidelity Series Overseas Fund (a) 591 5,116 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $38,494)  31,630 
Bond Funds - 29.7%   
Fidelity Series Corporate Bond Fund (a) 407 4,132 
Fidelity Series Emerging Markets Debt Fund (a) 83 672 
Fidelity Series Floating Rate High Income Fund (a) 19 156 
Fidelity Series Government Bond Index Fund (a) 565 6,382 
Fidelity Series High Income Fund (a) 95 787 
Fidelity Series Inflation-Protected Bond Index Fund (a) 550 5,548 
Fidelity Series International Credit Fund (a) 60 
Fidelity Series Investment Grade Bond Fund (a) 528 6,090 
Fidelity Series Investment Grade Securitized Fund (a) 413 4,353 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 253 2,709 
Fidelity Series Real Estate Income Fund (a) 51 432 
TOTAL BOND FUNDS   
(Cost $30,722)  31,321 
Short-Term Funds - 3.8%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 1,109 1,109 
Fidelity Series Short-Term Credit Fund (a) 20 202 
Fidelity Series Treasury Bill Index Fund (a) 271 2,720 
TOTAL SHORT-TERM FUNDS   
(Cost $4,025)  4,031 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $120,034)  105,397 
NET OTHER ASSETS (LIABILITIES) - 0.0%  
NET ASSETS - 100%  $105,397 

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 All-Sector Equity Fund $2,003 $64 $2,193 $-- $(303) $429 $-- 
Fidelity Series Blue Chip Growth Fund 3,608 7,273 3,094 448 137 (651) 7,273 
Fidelity Series Canada Fund 868 1,538 30 26 (509) 1,868 
Fidelity Series Commodity Strategy Fund 3,337 1,719 400 64 (78) (1,000) 3,578 
Fidelity Series Corporate Bond Fund -- 5,055 693 100 (7) (223) 4,132 
Fidelity Series Emerging Markets Debt Fund 784 68 54 46 (3) (123) 672 
Fidelity Series Emerging Markets Fund 927 448 26 28 -- (356) 993 
Fidelity Series Emerging Markets Opportunities Fund 8,384 2,858 194 281 (1,788) 9,262 
Fidelity Series Floating Rate High Income Fund 168 12 -- 10 -- (24) 156 
Fidelity Series Government Bond Index Fund -- 6,979 1,020 87 35 388 6,382 
Fidelity Series Government Money Market Fund 0.4% 1,475 2,144 2,510 21 -- -- 1,109 
Fidelity Series Growth Company Fund 7,314 26 7,625 -- 679 (394) -- 
Fidelity Series High Income Fund 842 65 56 -- (111) 787 
Fidelity Series Inflation-Protected Bond Index Fund 1,794 4,087 401 71 67 5,548 
Fidelity Series International Credit Fund 59 -- -- (2) 60 
Fidelity Series International Growth Fund 8,091 1,404 4,153 272 332 (224) 5,450 
Fidelity Series International Index Fund -- 2,585 49 -- (500) 2,084 
Fidelity Series International Small Cap Fund 1,941 323 332 96 (30) (251) 1,651 
Fidelity Series International Value Fund 8,038 1,756 3,140 302 (243) (1,205) 5,206 
Fidelity Series Intrinsic Opportunities Fund 8,986 479 9,134 343 (587) 256 -- 
Fidelity Series Investment Grade Bond Fund 17,708 4,307 16,540 385 322 293 6,090 
Fidelity Series Investment Grade Securitized Fund -- 5,035 746 105 61 4,353 
Fidelity Series Large Cap Growth Index Fund -- 8,266 2,498 88 69 (382) 5,455 
Fidelity Series Large Cap Stock Fund 7,794 1,161 2,180 519 (1,167) 5,613 
Fidelity Series Large Cap Value Index Fund 2,173 14,345 2,600 891 (50) (3,405) 10,463 
Fidelity Series Long-Term Treasury Bond Index Fund 6,438 1,029 5,717 336 643 316 2,709 
Fidelity Series Opportunistic Insights Fund 3,933 42 4,174 -- 238 (39) -- 
Fidelity Series Overseas Fund -- 6,119 44 15 (15) (944) 5,116 
Fidelity Series Real Estate Income Fund 524 45 34 -- (128) 432 
Fidelity Series Short-Term Credit Fund 369 189 356 (4) 202 
Fidelity Series Small Cap Discovery Fund 1,054 23 1,099 23 (10) 32 -- 
Fidelity Series Small Cap Opportunities Fund 3,228 1,272 914 208 (65) (746) 2,775 
Fidelity Series Stock Selector Large Cap Value Fund 5,922 20 6,291 -- (30) 379 -- 
Fidelity Series Treasury Bill Index Fund -- 2,865 151 -- 2,720 
Fidelity Series Value Discovery Fund 4,207 1,015 1,161 207 (24) (779) 3,258 
 $111,969 $84,619 $79,489 $5,131 $1,026 $(12,728) $105,397 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $120,034) $105,397  
Total Investment in Securities (cost $120,034)  $105,397 
Total assets  105,397 
Liabilities   
Net Assets  $105,397 
Net Assets consist of:   
Paid in capital  $118,512 
Total accumulated earnings (loss)  (13,115) 
Net Assets  $105,397 
Net Asset Value, offering price and redemption price per share ($105,397 ÷ 11,843 shares)  $8.90 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $2,767 
Expenses   
Independent trustees' fees and expenses $1  
Total expenses  
Net investment income (loss)  2,766 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 1,026  
Capital gain distributions from underlying funds:   
Affiliated issuers 2,364  
Total net realized gain (loss)  3,390 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (12,728)  
Total change in net unrealized appreciation (depreciation)  (12,728) 
Net gain (loss)  (9,338) 
Net increase (decrease) in net assets resulting from operations  $(6,572) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,766 $2,533 
Net realized gain (loss) 3,390 5,177 
Change in net unrealized appreciation (depreciation) (12,728) (4,330) 
Net increase (decrease) in net assets resulting from operations (6,572) 3,380 
Distributions to shareholders (8,047) (7,326) 
Share transactions   
Reinvestment of distributions 8,047 7,325 
Net increase (decrease) in net assets resulting from share transactions 8,047 7,325 
Total increase (decrease) in net assets (6,572) 3,379 
Net Assets   
Beginning of period 111,969 108,590 
End of period $105,397 $111,969 
Other Information   
Shares   
Sold – – 
Issued in reinvestment of distributions 788 758 
Net increase (decrease) 788 758 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Flex Freedom Blend 2030 Fund

    
Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.13 $10.55 $10.00 
Income from Investment Operations    
Net investment income (loss)B .24 .24 .18 
Net realized and unrealized gain (loss) (.75) .04 .68 
Total from investment operations (.51) .28 .86 
Distributions from net investment income (.24) (.24) (.17) 
Distributions from net realized gain (.47) (.46) (.15) 
Total distributions (.72)C (.70) (.31)D 
Net asset value, end of period $8.90 $10.13 $10.55 
Total ReturnE (5.88)% 3.09% 8.63% 
Ratios to Average Net AssetsF,G    
Expenses before reductions - %H - %H - %I 
Expenses net of fee waivers, if any - %H - %H - %I 
Expenses net of all reductions - %H - %H - %I 
Net investment income (loss) 2.36% 2.32% 2.15%I 
Supplemental Data    
Net assets, end of period (000 omitted) $105 $112 $109 
Portfolio turnover rateG 68% 20% 15%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 Total distributions of $.72 per share is comprised of distributions from net investment income of $.243 and distributions from net realized gain of $.472 per share.

 D Total distributions of $.31 per share is comprised of distributions from net investment income of $.165 and distributions from net realized gain of $.149 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Amount represents less than .005%.

 I Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 12.6 
Fidelity Series Emerging Markets Opportunities Fund 10.3 
Fidelity Series Blue Chip Growth Fund 8.7 
Fidelity Series Large Cap Stock Fund 6.8 
Fidelity Series Large Cap Growth Index Fund 6.5 
Fidelity Series International Growth Fund 6.2 
Fidelity Series Overseas Fund 5.9 
Fidelity Series International Value Fund 5.8 
Fidelity Series Value Discovery Fund 3.9 
Fidelity Series Commodity Strategy Fund 3.4 
 70.1 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 45.3% 
   International Equity Funds 35.8% 
   Bond Funds 15.1% 
   Short-Term Funds 3.8% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 45.3%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 698 $9,008 
Fidelity Series Commodity Strategy Fund (a) 958 3,496 
Fidelity Series Large Cap Growth Index Fund (a) 668 6,710 
Fidelity Series Large Cap Stock Fund (a) 581 6,970 
Fidelity Series Large Cap Value Index Fund (a) 1,348 12,953 
Fidelity Series Small Cap Opportunities Fund (a) 340 3,453 
Fidelity Series Value Discovery Fund (a) 408 4,051 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $56,941)  46,641 
International Equity Funds - 35.8%   
Fidelity Series Canada Fund (a) 278 2,303 
Fidelity Series Emerging Markets Fund (a) 162 1,148 
Fidelity Series Emerging Markets Opportunities Fund (a) 678 10,559 
Fidelity Series International Growth Fund (a) 442 6,404 
Fidelity Series International Index Fund (a) 305 2,503 
Fidelity Series International Small Cap Fund (a) 141 1,889 
Fidelity Series International Value Fund (a) 837 5,979 
Fidelity Series Overseas Fund (a) 707 6,112 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $45,113)  36,897 
Bond Funds - 15.1%   
Fidelity Series Corporate Bond Fund (a) 167 1,695 
Fidelity Series Emerging Markets Debt Fund (a) 86 693 
Fidelity Series Floating Rate High Income Fund (a) 20 158 
Fidelity Series Government Bond Index Fund (a) 235 2,650 
Fidelity Series High Income Fund (a) 96 790 
Fidelity Series Inflation-Protected Bond Index Fund (a) 227 2,292 
Fidelity Series International Credit Fund (a) 49 
Fidelity Series Investment Grade Bond Fund (a) 205 2,360 
Fidelity Series Investment Grade Securitized Fund (a) 172 1,809 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 240 2,562 
Fidelity Series Real Estate Income Fund (a) 52 435 
TOTAL BOND FUNDS   
(Cost $15,252)  15,493 
Short-Term Funds - 3.8%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 1,016 1,016 
Fidelity Series Short-Term Credit Fund (a) 21 204 
Fidelity Series Treasury Bill Index Fund (a) 271 2,719 
TOTAL SHORT-TERM FUNDS   
(Cost $3,933)  3,939 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $121,239)  102,970 
NET OTHER ASSETS (LIABILITIES) - 0.0%  
NET ASSETS - 100%  $102,970 

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 All-Sector Equity Fund $2,455 $6 $2,608 $-- $(386) $533 $-- 
Fidelity Series Blue Chip Growth Fund 4,428 8,837 3,618 554 172 (811) 9,008 
Fidelity Series Canada Fund 1,034 1,995 32 31 (695) 2,303 
Fidelity Series Commodity Strategy Fund 3,359 1,926 705 64 (133) (951) 3,496 
Fidelity Series Corporate Bond Fund -- 1,947 160 37 (93) 1,695 
Fidelity Series Emerging Markets Debt Fund 789 74 39 46 (2) (129) 693 
Fidelity Series Emerging Markets Fund 1,056 539 34 33 -- (413) 1,148 
Fidelity Series Emerging Markets Opportunities Fund 9,551 3,233 135 328 (2,092) 10,559 
Fidelity Series Floating Rate High Income Fund 169 13 -- 10 -- (24) 158 
Fidelity Series Government Bond Index Fund -- 2,693 208 32 161 2,650 
Fidelity Series Government Money Market Fund 0.4% 1,485 2,120 2,589 21 -- -- 1,016 
Fidelity Series Growth Company Fund 8,966 56 9,369 -- 816 (469) -- 
Fidelity Series High Income Fund 848 68 15 57 -- (111) 790 
Fidelity Series Inflation-Protected Bond Index Fund 338 2,246 307 31 13 2,292 
Fidelity Series International Credit Fund 48 -- -- (2) 49 
Fidelity Series International Growth Fund 9,635 1,437 4,752 331 342 (258) 6,404 
Fidelity Series International Index Fund -- 3,111 60 -- (606) 2,503 
Fidelity Series International Small Cap Fund 2,311 449 562 116 (35) (274) 1,889 
Fidelity Series International Value Fund 9,573 1,922 3,817 367 (247) (1,452) 5,979 
Fidelity Series Intrinsic Opportunities Fund 11,016 584 11,183 422 (778) 361 -- 
Fidelity Series Investment Grade Bond Fund 3,587 4,022 5,365 106 56 60 2,360 
Fidelity Series Investment Grade Securitized Fund -- 1,923 141 39 26 1,809 
Fidelity Series Large Cap Growth Index Fund -- 10,027 2,918 110 79 (478) 6,710 
Fidelity Series Large Cap Stock Fund 9,550 1,214 2,315 642 (7) (1,472) 6,970 
Fidelity Series Large Cap Value Index Fund 2,669 17,281 2,642 1,115 (51) (4,304) 12,953 
Fidelity Series Long-Term Treasury Bond Index Fund 6,480 1,136 6,023 339 686 283 2,562 
Fidelity Series Opportunistic Insights Fund 4,822 52 5,115 -- 292 (51) -- 
Fidelity Series Overseas Fund -- 7,285 50 19 (18) (1,105) 6,112 
Fidelity Series Real Estate Income Fund 529 46 11 35 -- (129) 435 
Fidelity Series Short-Term Credit Fund 372 157 326 (2) 204 
Fidelity Series Small Cap Discovery Fund 1,296 28 1,353 28 (22) 51 -- 
Fidelity Series Small Cap Opportunities Fund 3,958 1,483 954 256 (69) (965) 3,453 
Fidelity Series Stock Selector Large Cap Value Fund 7,274 -- 7,701 -- (56) 483 -- 
Fidelity Series Treasury Bill Index Fund -- 2,727 14 -- 2,719 
Fidelity Series Value Discovery Fund 5,137 1,183 1,252 260 (27) (990) 4,051 
 $112,735 $81,823 $76,315 $5,508 $626 $(15,899) $102,970 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $121,239) $102,970  
Total Investment in Securities (cost $121,239)  $102,970 
Total assets  102,970 
Liabilities   
Net Assets  $102,970 
Net Assets consist of:   
Paid in capital  $119,656 
Total accumulated earnings (loss)  (16,686) 
Net Assets  $102,970 
Net Asset Value, offering price and redemption price per share ($102,970 ÷ 11,955 shares)  $8.61 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $2,741 
Expenses   
Independent trustees' fees and expenses $1  
Total expenses  
Net investment income (loss)  2,740 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 626  
Capital gain distributions from underlying funds:   
Affiliated issuers 2,767  
Total net realized gain (loss)  3,393 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (15,899)  
Total change in net unrealized appreciation (depreciation)  (15,899) 
Net gain (loss)  (12,506) 
Net increase (decrease) in net assets resulting from operations  $(9,766) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,740 $2,379 
Net realized gain (loss) 3,393 6,169 
Change in net unrealized appreciation (depreciation) (15,899) (5,564) 
Net increase (decrease) in net assets resulting from operations (9,766) 2,984 
Distributions to shareholders (8,597) (7,779) 
Share transactions   
Reinvestment of distributions 8,597 7,779 
Net increase (decrease) in net assets resulting from share transactions 8,597 7,779 
Total increase (decrease) in net assets (9,766) 2,984 
Net Assets   
Beginning of period 112,736 109,752 
End of period $102,970 $112,736 
Other Information   
Shares   
Sold – – 
Issued in reinvestment of distributions 843 805 
Net increase (decrease) 843 805 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Flex Freedom Blend 2035 Fund

    
Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.15 $10.65 $10.00 
Income from Investment Operations    
Net investment income (loss)B .24 .22 .17 
Net realized and unrealized gain (loss) (1.02) .02 .81 
Total from investment operations (.78) .24 .98 
Distributions from net investment income (.24) (.22) (.16) 
Distributions from net realized gain (.52) (.52) (.16) 
Total distributions (.76) (.74) (.33)C 
Net asset value, end of period $8.61 $10.15 $10.65 
Total ReturnD (8.74)% 2.75% 9.77% 
Ratios to Average Net AssetsE,F    
Expenses before reductions - %G - %G - %H 
Expenses net of fee waivers, if any - %G - %G - %H 
Expenses net of all reductions - %G - %G - %H 
Net investment income (loss) 2.32% 2.16% 2.02%H 
Supplemental Data    
Net assets, end of period (000 omitted) $103 $113 $110 
Portfolio turnover rateF 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 of $.33 per share is comprised of distributions from net investment income of $.164 and distributions from net realized gain of $.164 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Amount represents less than .005%.

 H Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 14.1 
Fidelity Series Emerging Markets Opportunities Fund 11.1 
Fidelity Series Blue Chip Growth Fund 9.7 
Fidelity Series Large Cap Stock Fund 7.6 
Fidelity Series Large Cap Growth Index Fund 7.3 
Fidelity Series International Growth Fund 6.8 
Fidelity Series International Value Fund 6.5 
Fidelity Series Overseas Fund 6.5 
Fidelity Series Value Discovery Fund 4.4 
Fidelity Series Small Cap Opportunities Fund 3.6 
 77.6 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.1% 
   International Equity Funds 39.1% 
   Bond Funds 7.0% 
   Short-Term Funds 3.8% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 50.1%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 762 $9,836 
Fidelity Series Commodity Strategy Fund (a) 940 3,433 
Fidelity Series Large Cap Growth Index Fund (a) 737 7,400 
Fidelity Series Large Cap Stock Fund (a) 641 7,687 
Fidelity Series Large Cap Value Index Fund (a) 1,479 14,213 
Fidelity Series Small Cap Opportunities Fund (a) 355 3,607 
Fidelity Series Value Discovery Fund (a) 453 4,499 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $61,907)  50,675 
International Equity Funds - 39.1%   
Fidelity Series Canada Fund (a) 279 2,317 
Fidelity Series Emerging Markets Fund (a) 172 1,220 
Fidelity Series Emerging Markets Opportunities Fund (a) 721 11,225 
Fidelity Series International Growth Fund (a) 473 6,847 
Fidelity Series International Index Fund (a) 329 2,700 
Fidelity Series International Small Cap Fund (a) 154 2,052 
Fidelity Series International Value Fund (a) 927 6,618 
Fidelity Series Overseas Fund (a) 758 6,558 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $48,380)  39,537 
Bond Funds - 7.0%   
Fidelity Series Emerging Markets Debt Fund (a) 87 702 
Fidelity Series Floating Rate High Income Fund (a) 19 157 
Fidelity Series High Income Fund (a) 94 776 
Fidelity Series Inflation-Protected Bond Index Fund (a) 229 2,307 
Fidelity Series International Credit Fund (a) 49 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 242 2,583 
Fidelity Series Real Estate Income Fund (a) 51 433 
TOTAL BOND FUNDS   
(Cost $6,970)  7,007 
Short-Term Funds - 3.8%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 958 958 
Fidelity Series Short-Term Credit Fund (a) 21 204 
Fidelity Series Treasury Bill Index Fund (a) 270 2,708 
TOTAL SHORT-TERM FUNDS   
(Cost $3,864)  3,870 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $121,121)  101,089 
NET OTHER ASSETS (LIABILITIES) - 0.0%  
NET ASSETS - 100%  $101,089 

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 All-Sector Equity Fund $2,621 $69 $2,855 $-- $(410) $575 $-- 
Fidelity Series Blue Chip Growth Fund 4,723 9,358 3,537 597 175 (883) 9,836 
Fidelity Series Canada Fund 1,094 1,906 34 -- (675) 2,317 
Fidelity Series Commodity Strategy Fund 3,356 1,793 634 64 (128) (954) 3,433 
Fidelity Series Corporate Bond Fund -- 21  18 -- (3) --  -- 
Fidelity Series Emerging Markets Debt Fund 789 76 30 47 (2) (131) 702 
Fidelity Series Emerging Markets Fund 1,103 591 38 35 -- (436) 1,220 
Fidelity Series Emerging Markets Opportunities Fund 9,972 3,614 124 349 (1) (2,236) 11,225 
Fidelity Series Floating Rate High Income Fund 169 13 10 -- (24) 157 
Fidelity Series Government Bond Index Fund -- 29 29 -- -- -- -- 
Fidelity Series Government Money Market Fund 0.4% 783 2,153 1,978 14 -- -- 958 
Fidelity Series Growth Company Fund 9,575 43 9,991 -- 862 (489) -- 
Fidelity Series High Income Fund 847 70 30 57 (2) (109) 776 
Fidelity Series Inflation-Protected Bond Index Fund 337 2,266 306 31 2,307 
Fidelity Series International Credit Fund 48 -- -- (2) 49 
Fidelity Series International Growth Fund 10,196 1,647 5,042 358 317 (271) 6,847 
Fidelity Series International Index Fund -- 3,359 64 -- (656) 2,700 
Fidelity Series International Small Cap Fund 2,446 523 577 126 (34) (306) 2,052 
Fidelity Series International Value Fund 10,129 2,053 3,607 396 (292) (1,665) 6,618 
Fidelity Series Intrinsic Opportunities Fund 11,763 697 12,011 455 (881) 432 -- 
Fidelity Series Investment Grade Bond Fund 957 126 1,121 13 49 (11) -- 
Fidelity Series Investment Grade Securitized Fund -- 20 19 -- (1) -- -- 
Fidelity Series Large Cap Growth Index Fund -- 10,858 3,009 120 75 (524) 7,400 
Fidelity Series Large Cap Stock Fund 10,196 1,411 2,281 695 (23) (1,616) 7,687 
Fidelity Series Large Cap Value Index Fund 2,844 18,632 2,461 1,221 (58) (4,744) 14,213 
Fidelity Series Long-Term Treasury Bond Index Fund 3,984 1,096 3,148 307 261 390 2,583 
Fidelity Series Opportunistic Insights Fund 5,149 60 5,465 -- 306 (50) -- 
Fidelity Series Overseas Fund -- 7,734 -- 20 -- (1,176) 6,558 
Fidelity Series Real Estate Income Fund 528 48 15 34 -- (128) 433 
Fidelity Series Short-Term Credit Fund 196 158 149 (2) 204 
Fidelity Series Small Cap Discovery Fund 1,377 31 1,435 30 (30) 57 -- 
Fidelity Series Small Cap Opportunities Fund 4,226 1,429 916 276 (65) (1,067) 3,607 
Fidelity Series Stock Selector Large Cap Value Fund 7,766 -- 8,227 -- (56) 517 -- 
Fidelity Series Treasury Bill Index Fund -- 2,993 291 -- 2,708 
Fidelity Series Value Discovery Fund 5,500 1,340 1,209 285 (37) (1,095) 4,499 
Total $112,674 $76,220 $70,565 $5,656 $25 $(17,265) $101,089 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $121,121) $101,089  
Total Investment in Securities (cost $121,121)  $101,089 
Total assets  101,089 
Liabilities   
Net Assets  $101,089 
Net Assets consist of:   
Paid in capital  $119,597 
Total accumulated earnings (loss)  (18,508) 
Net Assets  $101,089 
Net Asset Value, offering price and redemption price per share ($101,089 ÷ 11,955 shares)  $8.46 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $2,706 
Expenses   
Independent trustees' fees and expenses $1  
Total expenses  
Net investment income (loss)  2,705 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 25  
Capital gain distributions from underlying funds:   
Affiliated issuers 2,950  
Total net realized gain (loss)  2,975 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (17,265)  
Total change in net unrealized appreciation (depreciation)  (17,265) 
Net gain (loss)  (14,290) 
Net increase (decrease) in net assets resulting from operations  $(11,585) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,705 $2,345 
Net realized gain (loss) 2,975 6,501 
Change in net unrealized appreciation (depreciation) (17,265) (6,056) 
Net increase (decrease) in net assets resulting from operations (11,585) 2,790 
Distributions to shareholders (8,422) (7,876) 
Share transactions   
Reinvestment of distributions 8,422 7,876 
Net increase (decrease) in net assets resulting from share transactions 8,422 7,876 
Total increase (decrease) in net assets (11,585) 2,790 
Net Assets   
Beginning of period 112,674 109,884 
End of period $101,089 $112,674 
Other Information   
Shares   
Sold – – 
Issued in reinvestment of distributions 828 818 
Net increase (decrease) 828 818 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Flex Freedom Blend 2040 Fund

    
Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.13 $10.66 $10.00 
Income from Investment Operations    
Net investment income (loss)B .23 .22 .17 
Net realized and unrealized gain (loss) (1.16) C .82 
Total from investment operations (.93) .22 .99 
Distributions from net investment income (.24) (.22) (.17) 
Distributions from net realized gain (.51) (.53) (.17) 
Total distributions (.74)D (.75) (.33)E 
Net asset value, end of period $8.46 $10.13 $10.66 
Total ReturnF (10.27)% 2.57% 9.89% 
Ratios to Average Net AssetsG,H    
Expenses before reductions - %I - %I - %J 
Expenses net of fee waivers, if any - %I - %I - %J 
Expenses net of all reductions - %I - %I - %J 
Net investment income (loss) 2.30% 2.13% 2.01%J 
Supplemental Data    
Net assets, end of period (000 omitted) $101 $113 $110 
Portfolio turnover rateH 61% 20% 13%J 

 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 of $.74 per share is comprised of distributions from net investment income of $.235 and distributions from net realized gain of $.508 per share.

 E Total distributions of $.33 per share is comprised of distributions from net investment income of $.165 and distributions from net realized gain of $.165 per share.

 F Total returns for periods of less than one year are not annualized.

 G Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Amount represents less than .005%.

 J Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 14.1 
Fidelity Series Emerging Markets Opportunities Fund 11.1 
Fidelity Series Blue Chip Growth Fund 9.7 
Fidelity Series Large Cap Stock Fund 7.6 
Fidelity Series Large Cap Growth Index Fund 7.3 
Fidelity Series International Growth Fund 6.7 
Fidelity Series International Value Fund 6.5 
Fidelity Series Overseas Fund 6.5 
Fidelity Series Value Discovery Fund 4.4 
Fidelity Series Small Cap Opportunities Fund 3.6 
 77.5 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.1% 
   International Equity Funds 39.1% 
   Bond Funds 6.9% 
   Short-Term Funds 3.9% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 50.1%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 762 $9,836 
Fidelity Series Commodity Strategy Fund (a) 940 3,433 
Fidelity Series Large Cap Growth Index Fund (a) 737 7,401 
Fidelity Series Large Cap Stock Fund (a) 641 7,687 
Fidelity Series Large Cap Value Index Fund (a) 1,479 14,215 
Fidelity Series Small Cap Opportunities Fund (a) 355 3,608 
Fidelity Series Value Discovery Fund (a) 453 4,499 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $61,917)  50,679 
International Equity Funds - 39.1%   
Fidelity Series Canada Fund (a) 293 2,431 
Fidelity Series Emerging Markets Fund (a) 172 1,220 
Fidelity Series Emerging Markets Opportunities Fund (a) 721 11,227 
Fidelity Series International Growth Fund (a) 472 6,838 
Fidelity Series International Index Fund (a) 329 2,700 
Fidelity Series International Small Cap Fund (a) 151 2,018 
Fidelity Series International Value Fund (a) 921 6,577 
Fidelity Series Overseas Fund (a) 756 6,538 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $48,365)  39,549 
Bond Funds - 6.9%   
Fidelity Series Emerging Markets Debt Fund (a) 87 698 
Fidelity Series Floating Rate High Income Fund (a) 19 157 
Fidelity Series High Income Fund (a) 94 776 
Fidelity Series Inflation-Protected Bond Index Fund (a) 229 2,308 
Fidelity Series International Credit Fund (a) 49 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 242 2,583 
Fidelity Series Real Estate Income Fund (a) 51 432 
TOTAL BOND FUNDS   
(Cost $6,965)  7,003 
Short-Term Funds - 3.9%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 957 957 
Fidelity Series Short-Term Credit Fund (a) 21 204 
Fidelity Series Treasury Bill Index Fund (a) 270 2,708 
TOTAL SHORT-TERM FUNDS   
(Cost $3,864)  3,869 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $121,111)  101,100 
NET OTHER ASSETS (LIABILITIES) - 0.0%  
NET ASSETS - 100%  $101,100 

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 All-Sector Equity Fund $2,621 $7 $2,787 $-- $(418) $577 $-- 
Fidelity Series Blue Chip Growth Fund 4,733 9,334 3,512 598 177 (896) 9,836 
Fidelity Series Canada Fund 1,094 2,017 13 34 (668) 2,431 
Fidelity Series Commodity Strategy Fund 3,356 1,799 640 64 (128) (954) 3,433 
Fidelity Series Corporate Bond Fund  -- 21 18 -- -3 -- -- 
Fidelity Series Emerging Markets Debt Fund 789 76 35 46 (2) (130) 698 
Fidelity Series Emerging Markets Fund 1,103 593 38 35 -- (438) 1,220 
Fidelity Series Emerging Markets Opportunities Fund 9,973 3,613 124 349 (1) (2,234) 11,227 
Fidelity Series Floating Rate High Income Fund 169 13 10 -- (24) 157 
Fidelity Government Bond Index Fund -- 29 29 -- -- -- -- 
Fidelity Series Government Money Market Fund 0.4% 783 2,154 1,980 14 -- -- 957 
Fidelity Series Growth Company Fund 9,575 -- 9,950 -- 866 (491) -- 
Fidelity Series High Income Fund 848 69 30 56 (2) (109) 776 
Fidelity Series Inflation-Protected Bond Index Fund 337 2,267 306 31 2,308 
Fidelity Series International Credit Fund 48 -- -- (2) 49 
Fidelity Series International Growth Fund 10,197 1,750 5,147 358 298 (260) 6,838 
Fidelity Series International Index Fund -- 3,359 64 -- (656) 2,700 
Fidelity Series International Small Cap Fund 2,446 524 612 126 (42) (298) 2,018 
Fidelity Series International Value Fund 10,131 2,009 3,607 396 (292) (1,664) 6,577 
Fidelity Series Intrinsic Opportunities Fund 11,764 687 12,001 456 (867) 417 -- 
Fidelity Series Investment Grade Bond Fund 957 127 1,122 13 49 (11) -- 
Fidelity Series Investment Grade Securitized Fund -- 20 19 -- -1 -- -- 
Fidelity Series Large Cap Growth Index Fund -- 10,884 3,047 120 88 (524) 7,401 
Fidelity Series Large Cap Stock Fund 10,197 1,409 2,277 695 (29) (1,613) 7,687 
Fidelity Series Large Cap Value Index Fund 2,845 18,610 2,436 1,222 (60) (4,744) 14,215 
Fidelity Series Long-Term Treasury Bond Index Fund 3,985 1,097 3,150 307 260 391 2,583 
Fidelity Series Opportunistic Insights Fund 5,159 88 5,505 -- 301 (43) -- 
Fidelity Series Overseas Fund -- 7,714 -- 20 -- (1,176) 6,538 
Fidelity Series Real Estate Income Fund 528 48 16 34 -- (128) 432 
Fidelity Series Short-Term Credit Fund 196 158 149 (2) 204 
Fidelity Series Small Cap Discovery Fund 1,379 31 1,440 30 (21) 51 -- 
Fidelity Series Small Cap Opportunities Fund 4,227 1,435 921 276 (67) (1,066) 3,608 
Fidelity Series Stock Selector Large Cap Value Fund 7,748 -- 8,204 -- (63) 519 -- 
Fidelity Series Treasury Bill Index Fund -- 2,994 291 -- 2,708 
Fidelity Series Value Discovery Fund 5,501 1,330 1,202 284 (36) (1,094) 4,499 
Total $112,689 $76,269 $70,612 $5,656 $11 $(17,257) $101,100 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $121,111) $101,100  
Total Investment in Securities (cost $121,111)  $101,100 
Total assets  101,100 
Liabilities   
Net Assets  $101,100 
Net Assets consist of:   
Paid in capital  $119,610 
Total accumulated earnings (loss)  (18,510) 
Net Assets  $101,100 
Net Asset Value, offering price and redemption price per share ($101,100 ÷ 11,956 shares)  $8.46 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $2,705 
Expenses   
Independent trustees' fees and expenses $1  
Total expenses  
Net investment income (loss)  2,704 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 11  
Capital gain distributions from underlying funds:   
Affiliated issuers 2,951  
Total net realized gain (loss)  2,962 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (17,257)  
Total change in net unrealized appreciation (depreciation)  (17,257) 
Net gain (loss)  (14,295) 
Net increase (decrease) in net assets resulting from operations  $(11,591) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,704 $2,345 
Net realized gain (loss) 2,962 6,517 
Change in net unrealized appreciation (depreciation) (17,257) (6,075) 
Net increase (decrease) in net assets resulting from operations (11,591) 2,787 
Distributions to shareholders (8,434) (7,856) 
Share transactions   
Reinvestment of distributions 8,434 7,856 
Net increase (decrease) in net assets resulting from share transactions 8,434 7,856 
Total increase (decrease) in net assets (11,591) 2,787 
Net Assets   
Beginning of period 112,691 109,904 
End of period $101,100 $112,691 
Other Information   
Shares   
Sold – – 
Issued in reinvestment of distributions 829 816 
Net increase (decrease) 829 816 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Flex Freedom Blend 2045 Fund

    
Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.13 $10.66 $10.00 
Income from Investment Operations    
Net investment income (loss)B .23 .22 .17 
Net realized and unrealized gain (loss) (1.16) C .82 
Total from investment operations (.93) .22 .99 
Distributions from net investment income (.23) (.22) (.17) 
Distributions from net realized gain (.51) (.53) (.17) 
Total distributions (.74) (.75) (.33)D 
Net asset value, end of period $8.46 $10.13 $10.66 
Total ReturnE (10.26)% 2.55% 9.91% 
Ratios to Average Net AssetsF,G    
Expenses before reductions - %H - %H - %I 
Expenses net of fee waivers, if any - %H - %H - %I 
Expenses net of all reductions - %H - %H - %I 
Net investment income (loss) 2.30% 2.13% 2.00%I 
Supplemental Data    
Net assets, end of period (000 omitted) $101 $113 $110 
Portfolio turnover rateG 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 of $.33 per share is comprised of distributions from net investment income of $.166 and distributions from net realized gain of $.166 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Amount represents less than .005%.

 I Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 14.1 
Fidelity Series Emerging Markets Opportunities Fund 11.1 
Fidelity Series Blue Chip Growth Fund 9.7 
Fidelity Series Large Cap Stock Fund 7.6 
Fidelity Series Large Cap Growth Index Fund 7.3 
Fidelity Series International Growth Fund 6.8 
Fidelity Series Overseas Fund 6.5 
Fidelity Series International Value Fund 6.5 
Fidelity Series Value Discovery Fund 4.4 
Fidelity Series Small Cap Opportunities Fund 3.6 
 77.6 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.1% 
   International Equity Funds 39.1% 
   Bond Funds 6.9% 
   Short-Term Funds 3.9% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 50.1%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 762 $9,835 
Fidelity Series Commodity Strategy Fund (a) 940 3,432 
Fidelity Series Large Cap Growth Index Fund (a) 737 7,400 
Fidelity Series Large Cap Stock Fund (a) 641 7,686 
Fidelity Series Large Cap Value Index Fund (a) 1,479 14,209 
Fidelity Series Small Cap Opportunities Fund (a) 355 3,608 
Fidelity Series Value Discovery Fund (a) 453 4,499 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $61,901)  50,669 
International Equity Funds - 39.1%   
Fidelity Series Canada Fund (a) 284 2,357 
Fidelity Series Emerging Markets Fund (a) 172 1,220 
Fidelity Series Emerging Markets Opportunities Fund (a) 721 11,225 
Fidelity Series International Growth Fund (a) 472 6,837 
Fidelity Series International Index Fund (a) 329 2,700 
Fidelity Series International Small Cap Fund (a) 153 2,052 
Fidelity Series International Value Fund (a) 916 6,541 
Fidelity Series Overseas Fund (a) 764 6,609 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $48,369)  39,541 
Bond Funds - 6.9%   
Fidelity Series Emerging Markets Debt Fund (a) 87 698 
Fidelity Series Floating Rate High Income Fund (a) 19 157 
Fidelity Series High Income Fund (a) 94 776 
Fidelity Series Inflation-Protected Bond Index Fund (a) 229 2,307 
Fidelity Series International Credit Fund (a) 49 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 242 2,583 
Fidelity Series Real Estate Income Fund (a) 51 434 
TOTAL BOND FUNDS   
(Cost $6,966)  7,004 
Short-Term Funds - 3.9%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 958 958 
Fidelity Series Short-Term Credit Fund (a) 21 204 
Fidelity Series Treasury Bill Index Fund (a) 270 2,708 
TOTAL SHORT-TERM FUNDS   
(Cost $3,864)  3,870 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $121,100)  101,084 
NET OTHER ASSETS (LIABILITIES) - 0.0%  
NET ASSETS - 100%  $101,084 

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 All-Sector Equity Fund $2,621 $-- $2,779 $-- $(418) $576 $-- 
Fidelity Series Blue Chip Growth Fund 4,724 9,348 3,516 602 168 (889) 9,835 
Fidelity Series Canada Fund 1,094 1,943 34 (673) 2,357 
Fidelity Series Commodity Strategy Fund 3,356 1,796 639 64 (128) (953) 3,432 
Fidelity Series Corporate Bond Fund  -- 21 18 -- (3) -- -- 
Fidelity Series Emerging Markets Debt Fund 789 76 35 46 (2) (130) 698 
Fidelity Series Emerging Markets Fund 1,103 591 38 35 -- (436) 1,220 
Fidelity Series Emerging Markets Opportunities Fund 9,972 3,614 124 349 -- (2,237) 11,225 
Fidelity Series Floating Rate High Income Fund 169 13 10 -- (24) 157 
Fidelity Series Government Bond Index Fund -- 29 29 -- -- -- -- 
Fidelity Series Government Money Market Fund 0.4% 783 2,156 1,981 14 -- -- 958 
Fidelity Series Growth Company Fund 9,575 -- 9,956 -- 871 (490) -- 
Fidelity Series High Income Fund 847 70 30 57 (2) (109) 776 
Fidelity Series Inflation-Protected Bond Index Fund 337 2,265 305 31 2,307 
Fidelity Series International Credit Fund 48 -- -- (2) 49 
Fidelity Series International Growth Fund 10,196 1,749 5,146 358 298 (260) 6,837 
Fidelity Series International Index Fund -- 3,359 64 -- (656) 2,700 
Fidelity Series International Small Cap Fund 2,446 524 578 126 (37) (303) 2,052 
Fidelity Series International Value Fund 10,130 1,980 3,613 397 (293) (1,663) 6,541 
Fidelity Series Intrinsic Opportunities Fund 11,762 701 12,014 455 (860) 411 -- 
Fidelity Series Investment Grade Bond Fund 957 126 1,121 13 49 (11) -- 
Fidelity Series Investment Grade Securitized Fund -- 20 19 -- (1) -- -- 
Fidelity Series Large Cap Growth Index Fund -- 10,858 3,008 120 74 (524) 7,400 
Fidelity Series Large Cap Stock Fund 10,196 1,409 2,281 695 (25) (1,613) 7,686 
Fidelity Series Large Cap Value Index Fund 2,845 18,627 2,461 1,221 (59) (4,743) 14,209 
Fidelity Series Long-Term Treasury Bond Index Fund 3,984 1,097 3,149 307 258 393 2,583 
Fidelity Series Opportunistic Insights Fund 5,149 90 5,495 -- 308 (52) -- 
Fidelity Series Overseas Fund -- 7,781 -- 20 -- (1,172) 6,609 
Fidelity Series Real Estate Income Fund 528 48 14 35 -- (128) 434 
Fidelity Series Short-Term Credit Fund 196 159 149 -- (2) 204 
Fidelity Series Small Cap Discovery Fund 1,377 31 1,435 30 (30) 57 -- 
Fidelity Series Small Cap Opportunities Fund 4,226 1,485 973 276 (68) (1,062) 3,608 
Fidelity Series Stock Selector Large Cap Value Fund 7,766 -- 8,225 -- (61) 520 -- 
Fidelity Series Treasury Bill Index Fund -- 3,000 298 -- 2,708 
Fidelity Series Value Discovery Fund 5,500 1,264 1,133 284 (35) (1,097) 4,499 
Total $112,676 $76,233 $70,574 $5,660 $7 $(17,258) $101,084 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $121,100) $101,084  
Total Investment in Securities (cost $121,100)  $101,084 
Total assets  101,084 
Liabilities   
Net Assets  $101,084 
Net Assets consist of:   
Paid in capital  $119,599 
Total accumulated earnings (loss)  (18,515) 
Net Assets  $101,084 
Net Asset Value, offering price and redemption price per share ($101,084 ÷ 11,955 shares)  $8.46 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $2,706 
Expenses   
Independent trustees' fees and expenses $1  
Total expenses  
Net investment income (loss)  2,705 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers  
Capital gain distributions from underlying funds:   
Affiliated issuers 2,954  
Total net realized gain (loss)  2,961 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (17,258)  
Total change in net unrealized appreciation (depreciation)  (17,258) 
Net gain (loss)  (14,297) 
Net increase (decrease) in net assets resulting from operations  $(11,592) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,705 $2,344 
Net realized gain (loss) 2,961 6,504 
Change in net unrealized appreciation (depreciation) (17,258) (6,065) 
Net increase (decrease) in net assets resulting from operations (11,592) 2,783 
Distributions to shareholders (8,443) (7,855) 
Share transactions   
Reinvestment of distributions 8,443 7,855 
Net increase (decrease) in net assets resulting from share transactions 8,443 7,855 
Total increase (decrease) in net assets (11,592) 2,783 
Net Assets   
Beginning of period 112,676 109,893 
End of period $101,084 $112,676 
Other Information   
Shares   
Sold – – 
Issued in reinvestment of distributions 830 816 
Net increase (decrease) 830 816 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Flex Freedom Blend 2050 Fund

    
Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.13 $10.66 $10.00 
Income from Investment Operations    
Net investment income (loss)B .23 .22 .17 
Net realized and unrealized gain (loss) (1.15) C .82 
Total from investment operations (.92) .22 .99 
Distributions from net investment income (.23) (.22) (.17) 
Distributions from net realized gain (.51) (.53) (.16) 
Total distributions (.75)D (.75) (.33) 
Net asset value, end of period $8.46 $10.13 $10.66 
Total ReturnE (10.25)% 2.55% 9.89% 
Ratios to Average Net AssetsF,G    
Expenses before reductions - %H - %H - %I 
Expenses net of fee waivers, if any - %H - %H - %I 
Expenses net of all reductions - %H - %H - %I 
Net investment income (loss) 2.30% 2.13% 2.00%I 
Supplemental Data    
Net assets, end of period (000 omitted) $101 $113 $110 
Portfolio turnover rateG 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 of $.75 per share is comprised of distributions from net investment income of $.234 and distributions from net realized gain of $.511 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Amount represents less than .005%.

 I Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 14.1 
Fidelity Series Emerging Markets Opportunities Fund 11.1 
Fidelity Series Blue Chip Growth Fund 9.7 
Fidelity Series Large Cap Stock Fund 7.6 
Fidelity Series Large Cap Growth Index Fund 7.3 
Fidelity Series International Growth Fund 6.8 
Fidelity Series Overseas Fund 6.5 
Fidelity Series International Value Fund 6.4 
Fidelity Series Value Discovery Fund 4.4 
Fidelity Series Small Cap Opportunities Fund 3.6 
 77.5 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.1% 
   International Equity Funds 39.2% 
   Bond Funds 6.9% 
   Short-Term Funds 3.8% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 50.1%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 763 $9,837 
Fidelity Series Commodity Strategy Fund (a) 941 3,433 
Fidelity Series Large Cap Growth Index Fund (a) 737 7,401 
Fidelity Series Large Cap Stock Fund (a) 641 7,688 
Fidelity Series Large Cap Value Index Fund (a) 1,479 14,212 
Fidelity Series Small Cap Opportunities Fund (a) 356 3,609 
Fidelity Series Value Discovery Fund (a) 453 4,500 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $61,940)  50,680 
International Equity Funds - 39.2%   
Fidelity Series Canada Fund (a) 304 2,519 
Fidelity Series Emerging Markets Fund (a) 172 1,221 
Fidelity Series Emerging Markets Opportunities Fund (a) 721 11,230 
Fidelity Series International Growth Fund (a) 471 6,827 
Fidelity Series International Index Fund (a) 330 2,704 
Fidelity Series International Small Cap Fund (a) 151 2,017 
Fidelity Series International Value Fund (a) 903 6,451 
Fidelity Series Overseas Fund (a) 763 6,598 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $48,402)  39,567 
Bond Funds - 6.9%   
Fidelity Series Emerging Markets Debt Fund (a) 88 705 
Fidelity Series Floating Rate High Income Fund (a) 19 157 
Fidelity Series High Income Fund (a) 94 777 
Fidelity Series Inflation-Protected Bond Index Fund (a) 229 2,308 
Fidelity Series International Credit Fund (a) 37 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 242 2,584 
Fidelity Series Real Estate Income Fund (a) 51 433 
TOTAL BOND FUNDS   
(Cost $6,962)  7,001 
Short-Term Funds - 3.8%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 957 957 
Fidelity Series Short-Term Credit Fund (a) 21 204 
Fidelity Series Treasury Bill Index Fund (a) 270 2,710 
TOTAL SHORT-TERM FUNDS   
(Cost $3,865)  3,871 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $121,169)  101,119 
NET OTHER ASSETS (LIABILITIES) - 0.0%  
NET ASSETS - 100%  $101,119 

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 All-Sector Equity Fund $2,621 $5 $2,785 $-- $(416) $575 $-- 
Fidelity Series Blue Chip Growth Fund 4,724 9,285 3,448 603 171 (895) 9,837 
Fidelity Series Canada Fund 1,094 2,246 68 34 (1) (752) 2,519 
Fidelity Series Commodity Strategy Fund 3,356 1,788 629 64 (127) (955) 3,433 
Fidelity Series Corporate Bond Fund  -- 21 18 -- (3) -- -- 
Fidelity Series Emerging Markets Debt Fund 789 76 26 47 (3) (131) 705 
Fidelity Series Emerging Markets Fund 1,103 594 38 35 -- (438) 1,221 
Fidelity Series Emerging Markets Opportunities Fund 9,975 3,615 123 349 -- (2,237) 11,230 
Fidelity Series Floating Rate High Income Fund 169 13 10 -- (24) 157 
Fidelity Series Government Bond Index Fund -- 29 29 -- -- -- -- 
Fidelity Series Government Money Market Fund 0.4% 784 2,147 1,974 14 -- -- 957 
Fidelity Series Growth Company Fund 9,575 51 9,999 -- 864 (491) -- 
Fidelity Series High Income Fund 849 69 30 56 (2) (109) 777 
Fidelity Series Inflation-Protected Bond Index Fund 339 2,262 303 31 2,308 
Fidelity Series International Credit Fund 36 -- -- (1) 37 
Fidelity Series International Growth Fund 10,198 1,690 5,142 358 340 (259) 6,827 
Fidelity Series International Index Fund -- 3,370 64 (1) (656) 2,704 
Fidelity Series International Small Cap Fund 2,446 525 617 126 (40) (297) 2,017 
Fidelity Series International Value Fund 10,131 2,335 4,225 396 (256) (1,534) 6,451 
Fidelity Series Intrinsic Opportunities Fund 11,763 684 11,998 455 (866) 417 -- 
Fidelity Series Investment Grade Bond Fund 958 126 1,122 13 49 (11) -- 
Fidelity Series Investment Grade Securitized Fund -- 20 19 -- (1) -- -- 
Fidelity Series Large Cap Growth Index Fund -- 10,875 3,034 120 85 (525) 7,401 
Fidelity Series Large Cap Stock Fund 10,208 1,355 2,233 697 (27) (1,615) 7,688 
Fidelity Series Large Cap Value Index Fund 2,845 18,632 2,463 1,221 (56) (4,746) 14,212 
Fidelity Series Long-Term Treasury Bond Index Fund 3,987 1,096 3,151 307 259 393 2,584 
Fidelity Series Opportunistic Insights Fund 5,160 71 5,488 -- 307 (50) -- 
Fidelity Series Overseas Fund -- 8,087 215 20 (35) (1,239) 6,598 
Fidelity Series Real Estate Income Fund 530 46 15 34 -- (128) 433 
Fidelity Series Short-Term Credit Fund 197 165 157 (2) 204 
Fidelity Series Small Cap Discovery Fund 1,377 30 1,437 30 (26) 56 -- 
Fidelity Series Small Cap Opportunities Fund 4,238 1,492 994 276 (65) (1,062) 3,609 
Fidelity Series Stock Selector Large Cap Value Fund 7,736 -- 8,186 -- (67) 517 -- 
Fidelity Series Treasury Bill Index Fund -- 2,995 291 -- 2,710 
Fidelity Series Value Discovery Fund 5,501 1,322 1,190 284 (35) (1,098) 4,500 
Total $112,689 $77,119 $71,457 $5,661 $51 $(17,283) $101,119 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $121,169) $101,119  
Total Investment in Securities (cost $121,169)  $101,119 
Total assets  101,119 
Liabilities   
Net Assets  $101,119 
Net Assets consist of:   
Paid in capital  $119,635 
Total accumulated earnings (loss)  (18,516) 
Net Assets  $101,119 
Net Asset Value, offering price and redemption price per share ($101,119 ÷ 11,959 shares)  $8.46 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $2,706 
Expenses   
Independent trustees' fees and expenses $1  
Total expenses  
Net investment income (loss)  2,705 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 51  
Capital gain distributions from underlying funds:   
Affiliated issuers 2,955  
Total net realized gain (loss)  3,006 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (17,283)  
Total change in net unrealized appreciation (depreciation)  (17,283) 
Net gain (loss)  (14,277) 
Net increase (decrease) in net assets resulting from operations  $(11,572) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,705 $2,346 
Net realized gain (loss) 3,006 6,527 
Change in net unrealized appreciation (depreciation) (17,283) (6,089) 
Net increase (decrease) in net assets resulting from operations (11,572) 2,784 
Distributions to shareholders (8,457) (7,866) 
Share transactions   
Reinvestment of distributions 8,457 7,866 
Net increase (decrease) in net assets resulting from share transactions 8,457 7,866 
Total increase (decrease) in net assets (11,572) 2,784 
Net Assets   
Beginning of period 112,691 109,907 
End of period $101,119 $112,691 
Other Information   
Shares   
Sold – – 
Issued in reinvestment of distributions 832 817 
Net increase (decrease) 832 817 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Flex Freedom Blend 2055 Fund

    
Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.13 $10.66 $10.00 
Income from Investment Operations    
Net investment income (loss)B .23 .22 .17 
Net realized and unrealized gain (loss) (1.15) C .82 
Total from investment operations (.92) .22 .99 
Distributions from net investment income (.24) (.22) (.17) 
Distributions from net realized gain (.51) (.53) (.17) 
Total distributions (.75) (.75) (.33)D 
Net asset value, end of period $8.46 $10.13 $10.66 
Total ReturnE (10.24)% 2.56% 9.90% 
Ratios to Average Net AssetsF,G    
Expenses before reductions - %H - %H - %I 
Expenses net of fee waivers, if any - %H - %H - %I 
Expenses net of all reductions - %H - %H - %I 
Net investment income (loss) 2.30% 2.13% 2.00%I 
Supplemental Data    
Net assets, end of period (000 omitted) $101 $113 $110 
Portfolio turnover rateG 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 of $.33 per share is comprised of distributions from net investment income of $.166 and distributions from net realized gain of $.165 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Amount represents less than .005%.

 I Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 14.1 
Fidelity Series Emerging Markets Opportunities Fund 11.1 
Fidelity Series Blue Chip Growth Fund 9.7 
Fidelity Series Large Cap Stock Fund 7.6 
Fidelity Series Large Cap Growth Index Fund 7.3 
Fidelity Series International Growth Fund 6.8 
Fidelity Series Overseas Fund 6.5 
Fidelity Series International Value Fund 6.4 
Fidelity Series Value Discovery Fund 4.4 
Fidelity Series Small Cap Opportunities Fund 3.6 
 77.5 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.1% 
   International Equity Funds 39.1% 
   Bond Funds 6.9% 
   Short-Term Funds 3.9% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 50.1%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 763 $9,838 
Fidelity Series Commodity Strategy Fund (a) 941 3,433 
Fidelity Series Large Cap Growth Index Fund (a) 737 7,402 
Fidelity Series Large Cap Stock Fund (a) 641 7,689 
Fidelity Series Large Cap Value Index Fund (a) 1,479 14,214 
Fidelity Series Small Cap Opportunities Fund (a) 356 3,610 
Fidelity Series Value Discovery Fund (a) 453 4,500 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $61,927)  50,686 
International Equity Funds - 39.1%   
Fidelity Series Canada Fund (a) 296 2,457 
Fidelity Series Emerging Markets Fund (a) 172 1,221 
Fidelity Series Emerging Markets Opportunities Fund (a) 721 11,231 
Fidelity Series International Growth Fund (a) 471 6,825 
Fidelity Series International Index Fund (a) 330 2,704 
Fidelity Series International Small Cap Fund (a) 151 2,017 
Fidelity Series International Value Fund (a) 912 6,511 
Fidelity Series Overseas Fund (a) 763 6,598 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $48,380)  39,564 
Bond Funds - 6.9%   
Fidelity Series Emerging Markets Debt Fund (a) 87 705 
Fidelity Series Floating Rate High Income Fund (a) 19 157 
Fidelity Series High Income Fund (a) 94 777 
Fidelity Series Inflation-Protected Bond Index Fund (a) 229 2,308 
Fidelity Series International Credit Fund (a) 37 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 242 2,584 
Fidelity Series Real Estate Income Fund (a) 51 433 
TOTAL BOND FUNDS   
(Cost $6,961)  7,001 
Short-Term Funds - 3.9%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 956 956 
Fidelity Series Short-Term Credit Fund (a) 21 205 
Fidelity Series Treasury Bill Index Fund (a) 270 2,710 
TOTAL SHORT-TERM FUNDS   
(Cost $3,865)  3,871 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $121,133)  101,122 
NET OTHER ASSETS (LIABILITIES) - 0.0%  
NET ASSETS - 100%  $101,122 

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 All-Sector Equity Fund $2,621 $-- $2,780 $-- $(423) $582 $-- 
Fidelity Series Blue Chip Growth Fund 4,733 9,288 3,463 609 173 (893) 9,838 
Fidelity Series Canada Fund 1,092 2,197 69 34 (1) (762) 2,457 
Fidelity Series Commodity Strategy Fund 3,356 1,794 634 64 (128) (955) 3,433 
Fidelity Series Corporate Bond Fund -- 21 18 -- (3) -- -- 
Fidelity Series Emerging Markets Debt Fund 789 75 26 47 (2) (131) 705 
Fidelity Series Emerging Markets Fund 1,103 592 37 35 -- (437) 1,221 
Fidelity Series Emerging Markets Opportunities Fund 9,975 3,616 122 349 (3) (2,235) 11,231 
Fidelity Series Floating Rate High Income Fund 169 13 10 -- (24) 157 
Fidelity Series Government Bond Index Fund -- 29 29 -- -- -- -- 
Fidelity Series Government Money Market Fund 0.4% 784 2,127 1,955 14 -- -- 956 
Fidelity Series Growth Company Fund 9,574 -- 9,948 -- 867 (493) -- 
Fidelity Series High Income Fund 849 68 30 56 (2) (108) 777 
Fidelity Series Inflation-Protected Bond Index Fund 339 2,262 303 31 2,308 
Fidelity Series International Credit Fund 36 -- -- (1) 37 
Fidelity Series International Growth Fund 10,197 1,807 5,261 358 343 (261) 6,825 
Fidelity Series International Index Fund -- 3,426 57 64 (7) (658) 2,704 
Fidelity Series International Small Cap Fund 2,451 525 622 126 (47) (290) 2,017 
Fidelity Series International Value Fund 10,128 2,679 4,522 396 (265) (1,509) 6,511 
Fidelity Series Intrinsic Opportunities Fund 11,763 705 12,016 455 (861) 409 -- 
Fidelity Series Investment Grade Bond Fund 958 126 1,122 13 49 (11) -- 
Fidelity Series Investment Grade Securitized Fund -- 20 19 -- (1) -- -- 
Fidelity Series Large Cap Growth Index Fund -- 10,884 3,039 120 81 (524) 7,402 
Fidelity Series Large Cap Stock Fund 10,197 1,414 2,286 696 (22) (1,614) 7,689 
Fidelity Series Large Cap Value Index Fund 2,845 18,622 2,450 1,222 (57) (4,746) 14,214 
Fidelity Series Long-Term Treasury Bond Index Fund 3,986 1,098 3,151 307 258 393 2,584 
Fidelity Series Opportunistic Insights Fund 5,159 61 5,477 -- 300 (43) -- 
Fidelity Series Overseas Fund -- 8,139 269 20 (34) (1,238) 6,598 
Fidelity Series Real Estate Income Fund 530 46 15 34 -- (128) 433 
Fidelity Series Short-Term Credit Fund 197 219 210 (2) 205 
Fidelity Series Small Cap Discovery Fund 1,379 34 1,443 30 (26) 56 -- 
Fidelity Series Small Cap Opportunities Fund 4,226 1,485 967 276 (67) (1,067) 3,610 
Fidelity Series Stock Selector Large Cap Value Fund 7,748 -- 8,203 -- (61) 516 -- 
Fidelity Series Treasury Bill Index Fund -- 2,994 290 -- 2,710 
Fidelity Series Value Discovery Fund 5,501 1,313 1,183 284 (33) (1,098) 4,500 
Total $112,685 $77,681 $72,017 $5,666 $31 $(17,258) $101,122 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $121,133) $101,122  
Total Investment in Securities (cost $121,133)  $101,122 
Total assets  101,122 
Liabilities   
Net Assets  $101,122 
Net Assets consist of:   
Paid in capital  $119,609 
Total accumulated earnings (loss)  (18,487) 
Net Assets  $101,122 
Net Asset Value, offering price and redemption price per share ($101,122 ÷ 11,957 shares)  $8.46 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  Year ended March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $2,710 
Expenses   
Independent trustees' fees and expenses $1  
Total expenses  
Net investment income (loss)  2,709 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 31  
Capital gain distributions from underlying funds:   
Affiliated issuers 2,956  
Total net realized gain (loss)  2,987 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (17,258)  
Total change in net unrealized appreciation (depreciation)  (17,258) 
Net gain (loss)  (14,271) 
Net increase (decrease) in net assets resulting from operations  $(11,562) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 Year ended March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,709 $2,345 
Net realized gain (loss) 2,987 6,527 
Change in net unrealized appreciation (depreciation) (17,258) (6,092) 
Net increase (decrease) in net assets resulting from operations (11,562) 2,780 
Distributions to shareholders (8,455) (7,855) 
Share transactions   
Reinvestment of distributions 8,455 7,854 
Net increase (decrease) in net assets resulting from share transactions 8,455 7,854 
Total increase (decrease) in net assets (11,562) 2,779 
Net Assets   
Beginning of period 112,684 109,905 
End of period $101,122 $112,684 
Other Information   
Shares   
Sold – – 
Issued in reinvestment of distributions 832 816 
Net increase (decrease) 832 816 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Flex Freedom Blend 2060 Fund

    
Years ended March 31, 2020 2019 2018 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.13 $10.66 $10.00 
Income from Investment Operations    
Net investment income (loss)B .23 .22 .17 
Net realized and unrealized gain (loss) (1.15) C .82 
Total from investment operations (.92) .22 .99 
Distributions from net investment income (.24) (.22) (.17) 
Distributions from net realized gain (.51) (.53) (.17) 
Total distributions (.75) (.75) (.33)D 
Net asset value, end of period $8.46 $10.13 $10.66 
Total ReturnE (10.24)% 2.55% 9.89% 
Ratios to Average Net AssetsF,G    
Expenses before reductions - %H - %H - %I 
Expenses net of fee waivers, if any - %H - %H - %I 
Expenses net of all reductions - %H - %H - %I 
Net investment income (loss) 2.30% 2.13% 2.00%I 
Supplemental Data    
Net assets, end of period (000 omitted) $101 $113 $110 
Portfolio turnover rateG 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 of $.33 per share is comprised of distributions from net investment income of $.165 and distributions from net realized gain of $.165 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Amount represents less than .005%.

 I Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 14.1 
Fidelity Series Emerging Markets Opportunities Fund 11.1 
Fidelity Series Blue Chip Growth Fund 9.7 
Fidelity Series Large Cap Stock Fund 7.6 
Fidelity Series Large Cap Growth Index Fund 7.3 
Fidelity Series International Growth Fund 6.8 
Fidelity Series Overseas Fund 6.5 
Fidelity Series International Value Fund 6.5 
Fidelity Series Value Discovery Fund 4.4 
Fidelity Series Small Cap Opportunities Fund 3.6 
 77.6 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.1% 
   International Equity Funds 39.1% 
   Bond Funds 6.9% 
   Short-Term Funds 3.9% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 50.1%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 655 $8,452 
Fidelity Series Commodity Strategy Fund (a) 808 2,950 
Fidelity Series Large Cap Growth Index Fund (a) 633 6,359 
Fidelity Series Large Cap Stock Fund (a) 551 6,606 
Fidelity Series Large Cap Value Index Fund (a) 1,271 12,214 
Fidelity Series Small Cap Opportunities Fund (a) 306 3,104 
Fidelity Series Value Discovery Fund (a) 389 3,866 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $53,385)  43,551 
International Equity Funds - 39.1%   
Fidelity Series Canada Fund (a) 243 2,017 
Fidelity Series Emerging Markets Fund (a) 148 1,048 
Fidelity Series Emerging Markets Opportunities Fund (a) 619 9,645 
Fidelity Series International Growth Fund (a) 406 5,875 
Fidelity Series International Index Fund (a) 283 2,319 
Fidelity Series International Small Cap Fund (a) 130 1,735 
Fidelity Series International Value Fund (a) 792 5,654 
Fidelity Series Overseas Fund (a) 658 5,690 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $41,615)  33,983 
Bond Funds - 6.9%   
Fidelity Series Emerging Markets Debt Fund (a) 75 603 
Fidelity Series Floating Rate High Income Fund (a) 17 135 
Fidelity Series High Income Fund (a) 81 667 
Fidelity Series Inflation-Protected Bond Index Fund (a) 197 1,983 
Fidelity Series International Credit Fund (a) 30 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 208 2,220 
Fidelity Series Real Estate Income Fund (a) 44 375 
TOTAL BOND FUNDS   
(Cost $6,066)  6,013 
Short-Term Funds - 3.9%   
Fidelity Cash Central Fund 0.29% (b) 19 19 
Fidelity Series Government Money Market Fund 0.4% (a)(c) 823 823 
Fidelity Series Short-Term Credit Fund (a) 18 175 
Fidelity Series Treasury Bill Index Fund (a) 232 2,327 
TOTAL SHORT-TERM FUNDS   
(Cost $3,342)  3,344 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $104,408)  86,891 
NET OTHER ASSETS (LIABILITIES) - 0.0%  
NET ASSETS - 100%  $86,891 

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 $20 
Total $20 

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 $-- $4,610 $4,653 $-- $43 $-- $-- 
Fidelity Series Blue Chip Growth Fund -- 16,077 6,867 518 (63) (695) 8,452 
Fidelity Series Canada Fund -- 3,704 1,050 29 -- (637) 2,017 
Fidelity Series Commodity Strategy Fund -- 7,813 3,974 55 (94) (795) 2,950 
Fidelity Series Corporate Bond Fund -- 18 16 -- (2) -- -- 
Fidelity Series Emerging Markets Debt Fund -- 1,430 703 30 -- (124) 603 
Fidelity Series Emerging Markets Fund -- 2,479 1,073 30 (2) (356) 1,048 
Fidelity Series Emerging Markets Opportunities Fund -- 21,339 9,494 300 (7) (2,193) 9,645 
Fidelity Series Floating Rate High Income Fund -- 311 154 (1) (21) 135 
Fidelity Series Government Bond Index Fund -- 25 25 -- -- -- -- 
Fidelity Series Government Money Market Fund 0.4% -- 3,586 2,763 -- -- 823 
Fidelity Series Growth Company Fund -- 16,390 16,506 -- 116 -- -- 
Fidelity Series High Income Fund -- 1,536 764 37 (6) (99) 667 
Fidelity Series Inflation-Protected Bond Index Fund -- 2,537 556 27 -- 1,983 
Fidelity Series International Credit Fund -- 82 50 -- (2) 30 
Fidelity Series International Growth Fund -- 19,663 13,081 307 (712) 5,875 
Fidelity Series International Index Fund -- 2,886 55 -- (564) 2,319 
Fidelity Series International Small Cap Fund -- 4,665 2,515 108 (61) (354) 1,735 
Fidelity Series International Value Fund -- 20,236 12,754 340 (11) (1,817) 5,654 
Fidelity Series Intrinsic Opportunities Fund -- 20,091 19,743 391 (348) -- -- 
Fidelity Series Investment Grade Bond Fund -- 1,690 1,704 14 -- -- 
Fidelity Series Investment Grade Securitized Fund -- 17 17 -- -- -- -- 
Fidelity Series Large Cap Growth Index Fund -- 9,350 2,615 103 74 (450) 6,359 
Fidelity Series Large Cap Stock Fund -- 18,718 10,505 538 (11) (1,596) 6,606 
Fidelity Series Large Cap Value Index Fund -- 21,065 4,631 1,050 (58) (4,162) 12,214 
Fidelity Series Long-Term Treasury Bond Index Fund -- 6,467 4,624 240 66 311 2,220 
Fidelity Series Opportunistic Insights Fund -- 9,072 9,034 -- (38) -- -- 
Fidelity Series Overseas Fund -- 8,103 1,410 17 (4) (999) 5,690 
Fidelity Series Real Estate Income Fund -- 964 470 23 -- (119) 375 
Fidelity Series Short-Term Credit Fund -- 576 398 -- (3) 175 
Fidelity Series Small Cap Discovery Fund -- 2,310 2,338 -- 28 -- -- 
Fidelity Series Small Cap Opportunities Fund -- 8,451 4,250 236 (51) (1,046) 3,104 
Fidelity Series Stock Selector Large Cap Value Fund -- 13,440 13,546 -- 106 -- -- 
Fidelity Series Treasury Bill Index Fund -- 2,578 256 -- 2,327 
Fidelity Series Value Discovery Fund -- 10,689 5,717 244 (17) (1,089) 3,866 
Total $-- $262,968 $158,259 $4,709 $(320) $(17,517) $86,872 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $19) $19  
Other affiliated issuers (cost $104,389) 86,872  
Total Investment in Securities (cost $104,408)  $86,891 
Total assets  86,891 
Liabilities   
Net Assets  $86,891 
Net Assets consist of:   
Paid in capital  $103,380 
Total accumulated earnings (loss)  (16,489) 
Net Assets  $86,891 
Net Asset Value, offering price and redemption price per share ($86,891 ÷ 10,320 shares)  $8.42 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  For the period
June 28, 2019 (commencement of operations) to
March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $2,192 
Income from Fidelity Central Funds  20 
Total income  2,212 
Expenses   
Independent trustees' fees and expenses $1  
Total expenses  
Net investment income (loss)  2,211 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers (320)  
Capital gain distributions from underlying funds:   
Affiliated issuers 2,517  
Total net realized gain (loss)  2,197 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (17,517)  
Total change in net unrealized appreciation (depreciation)  (17,517) 
Net gain (loss)  (15,320) 
Net increase (decrease) in net assets resulting from operations  $(13,109) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 For the period
June 28, 2019 (commencement of operations) to
March 31, 2020 
Increase (Decrease) in Net Assets  
Operations  
Net investment income (loss) $2,211 
Net realized gain (loss) 2,197 
Change in net unrealized appreciation (depreciation) (17,517) 
Net increase (decrease) in net assets resulting from operations (13,109) 
Distributions to shareholders (3,380) 
Share transactions  
Proceeds from sales of shares 100,000 
Reinvestment of distributions 3,380 
Net increase (decrease) in net assets resulting from share transactions 103,380 
Total increase (decrease) in net assets 86,891 
Net Assets  
Beginning of period – 
End of period $86,891 
Other Information  
Shares  
Sold 10,000 
Issued in reinvestment of distributions 320 
Net increase (decrease) 10,320 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Flex Freedom Blend 2065 Fund

  
Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .22 
Net realized and unrealized gain (loss) (1.46) 
Total from investment operations (1.24) 
Distributions from net investment income (.22) 
Distributions from net realized gain (.12) 
Total distributions (.34) 
Net asset value, end of period $8.42 
Total ReturnC (13.10)% 
Ratios to Average Net AssetsD,E  
Expenses before reductions - %F,G 
Expenses net of fee waivers, if any - %F,G 
Expenses net of all reductions - %F,G 
Net investment income (loss) 2.88%F 
Supplemental Data  
Net assets, end of period (000 omitted) $87 
Portfolio turnover rateE 208%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 Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Annualized

 G Amount represents less than .005%.

See accompanying notes which are an integral part of the financial statements.


Notes to Financial Statements

For the period ended March 31, 2020

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)(each formerly a Fidelity Flex Freedom Fund) 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 offered by Fidelity. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds. The Funds invest primarily in a combination of other Fidelity equity, bond, and short-term funds (the Underlying Funds) managed by Fidelity Management & Research Company LLC (FMR).

Effective January 1, 2020, investment advisers Fidelity Investments Money Management, Inc., FMR Co., Inc., and Fidelity SelectCo, LLC, merged with and into Fidelity Management & Research Company. In connection with the merger transactions, the resulting, merged investment adviser was then redomiciled from Massachusetts to Delaware, changed its corporate structure from a corporation to a limited liability company, and changed its name to "Fidelity Management & Research Company LLC".

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 does 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 – Investments 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. The following summarizes the significant accounting policies of the Funds:

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 the Underlying 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 the Underlying Funds, if any, 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 the Underlying Funds. Although not included in each Fund's expenses, each Fund indirectly bears its proportionate share of the Underlying Funds' expenses through the impact of these expenses on each Underlying Fund's 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, 2020, 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 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 Flex Freedom Blend Income Fund $ 112,181 $2,242 $(5,184) $(2,942) 
Fidelity Flex Freedom Blend 2005 Fund 113,666 2,152 (6,591) (4,439) 
Fidelity Flex Freedom Blend 2010 Fund 115,189  1,982  (8,721)  (6,739) 
Fidelity Flex Freedom Blend 2015 Fund 116,482  1,819  (10,690)  (8,871) 
Fidelity Flex Freedom Blend 2020 Fund 117,568  1,628  (12,565)  (10,937) 
Fidelity Flex Freedom Blend 2025 Fund 118,517  1,505  (14,038)  (12,533) 
Fidelity Flex Freedom Blend 2030 Fund 120,488  1,327  (16,418)  (15,091) 
Fidelity Flex Freedom Blend 2035 Fund 121,709 863  (19,602)  (18,739) 
Fidelity Flex Freedom Blend 2040 Fund 121,587  568  (21,066)  (20,498) 
Fidelity Flex Freedom Blend 2045 Fund 121,587 576 (21,063) (20,487) 
Fidelity Flex Freedom Blend 2050 Fund 121,574 574 (21,064) (20,490) 
Fidelity Flex Freedom Blend 2055 Fund 121,661 570 (21,112) (20,542) 
Fidelity Flex Freedom Blend 2060 Fund 121,647 569 (21,094) (20,525) 
Fidelity Flex Freedom Blend 2065 Fund 104,768 326 (18,203) (17,877) 

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 $215 $401 $(2,942) 
Fidelity Flex Freedom Blend 2005 Fund 500 536 (4,439) 
Fidelity Flex Freedom Blend 2010 Fund 536 774 (6,739) 
Fidelity Flex Freedom Blend 2015 Fund 491 907 (8,871) 
Fidelity Flex Freedom Blend 2020 Fund 493 1,084 (10,937) 
Fidelity Flex Freedom Blend 2025 Fund 430 1,203 (12,533) 
Fidelity Flex Freedom Blend 2030 Fund 453 1,524 (15,091) 
Fidelity Flex Freedom Blend 2035 Fund 261 1,792 (18,739) 
Fidelity Flex Freedom Blend 2040 Fund 117 1,873 (20,498) 
Fidelity Flex Freedom Blend 2045 Fund 100 1,878 (20,487) 
Fidelity Flex Freedom Blend 2050 Fund 104 1,872 (20,490) 
Fidelity Flex Freedom Blend 2055 Fund 174 1,852 (20,542) 
Fidelity Flex Freedom Blend 2060 Fund 184 1,855 (20,525) 
Fidelity Flex Freedom Blend 2065 Fund 195 1,193 (17,877) 

The tax character of distributions paid was as follows:

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.

March 31, 2019    
 Ordinary Income Long-term Capital Gains Total 
Fidelity Flex Freedom Blend Income Fund $3,186 $1,282 $4,468 
Fidelity Flex Freedom Blend 2005 Fund 3,260 1,780 5,040 
Fidelity Flex Freedom Blend 2010 Fund 3,283 2,228 5,511 
Fidelity Flex Freedom Blend 2015 Fund 3,306 2,688 5,994 
Fidelity Flex Freedom Blend 2020 Fund 3,294 3,013 6,307 
Fidelity Flex Freedom Blend 2025 Fund 3,291 3,318 6,609 
Fidelity Flex Freedom Blend 2030 Fund 3,363 3,963 7,326 
Fidelity Flex Freedom Blend 2035 Fund 3,218 4,561 7,779 
Fidelity Flex Freedom Blend 2040 Fund 3,199 4,677 7,876 
Fidelity Flex Freedom Blend 2045 Fund 3,147 4,709 7,856 
Fidelity Flex Freedom Blend 2050 Fund 3,189 4,666 7,855 
Fidelity Flex Freedom Blend 2055 Fund 3,168 4,698 7,866 
Fidelity Flex Freedom Blend 2060 Fund 3,168 4,687 7,855 

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 73,317 69,888 
Fidelity Flex Freedom Blend 2005 Fund 75,808 72,148 
Fidelity Flex Freedom Blend 2010 Fund 77,590 73,629 
Fidelity Flex Freedom Blend 2015 Fund 78,955 74,685 
Fidelity Flex Freedom Blend 2020 Fund 80,578 76,040 
Fidelity Flex Freedom Blend 2025 Fund 82,468 77,701 
Fidelity Flex Freedom Blend 2030 Fund 84,619 79,489 
Fidelity Flex Freedom Blend 2035 Fund 81,823 76,315 
Fidelity Flex Freedom Blend 2040 Fund 76,220 70,565 
Fidelity Flex Freedom Blend 2045 Fund 76,269 70,612 
Fidelity Flex Freedom Blend 2050 Fund 76,233 70,574 
Fidelity Flex Freedom Blend 2055 Fund 77,119 71,457 
Fidelity Flex Freedom Blend 2060 Fund 77,681 72,017 
Fidelity Flex Freedom Blend 2065 Fund 262,968 158,259 

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. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

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 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, 2020, 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, 2020, 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, 2020 For the years ended March 31, 2020 and 2019  For the years ended March 31, 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, 2020 For the years ended March 31, 2020 and 2019 For the years ended March 31, 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, 2020 For the years ended March 31, 2020 and 2019 For the years ended March 31, 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, 2020 For the years ended March 31, 2020 and 2019 For the years ended March 31, 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, 2020 For the years ended March 31, 2020 and 2019 For the years ended March 31, 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, 2020 For the years ended March 31, 2020 and 2019 For the years ended March 31, 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, 2020 For the years ended March 31, 2020 and 2019 For the years ended March 31, 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, 2020 For the years ended March 31, 2020 and 2019 For the years ended March 31, 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, 2020 For the years ended March 31, 2020 and 2019 For the years ended March 31, 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, 2020 For the years ended March 31, 2020 and 2019 For the years ended March 31, 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, 2020 For the years ended March 31, 2020 and 2019 For the years ended March 31, 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, 2020 For the years ended March 31, 2020 and 2019 For the years ended March 31, 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, 2020 For the years ended March 31, 2020 and 2019 For the years ended March 31, 2020 and 2019, and the period June 8, 2017 (commencement of operations) to March 31, 2018 
Fidelity Flex Freedom Blend 2065 Fund For the period June 28, 2019 (commencement of operations) to March 31, 2020 For the period June 28, 2019 (commencement of operations) to March 31, 2020 For 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, 2020 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.

PricewaterhouseCoopers LLP

Boston, Massachusetts

May 13, 2020



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 279 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. 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 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 Executive Vice President and Chief Investment Officer of Bank of America Corporation. Earlier roles at Bank of America included Director of Research, Senior Portfolio Manager for various institutional equity accounts and mutual funds and Portfolio Manager for a number of institutional fixed-income clients. Mr. Kenneally 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. Mr. Murray currently serves as Vice Chairman of Meijer, Inc. (regional retail chain, 2013-present). Previously, Mr. Murray served as Co-Chief Executive Officer (2013-2016) and President (2006-2013) of Meijer, Inc. Mr. Murray serves as a member of the Board and Nuclear Review and Public Policy and Responsibility Committees of DTE Energy Company (diversified energy company, 2009-present) and 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 previously served as a member of the Board of Spectrum Health (not-for-profit health system, 2015-2019). 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

Elizabeth Paige Baumann (1968)

Year of Election or Appointment: 2017

Anti-Money Laundering (AML) Officer

Ms. Baumann also serves as AML Officer of other funds. She is Chief AML Officer (2012-present) and Senior Vice President (2014-present) of FMR LLC (diversified financial services company) and is an employee of Fidelity Investments. Previously, Ms. Baumann served as AML Officer of certain funds (2017-2019), as AML Officer of the funds (2012-2016), and Vice President (2007-2014) and Deputy Anti-Money Laundering Officer (2007-2012) of FMR LLC.

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).

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). 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).

John B. McGinty, Jr. (1962)

Year of Election or Appointment: 2016

Chief Compliance Officer

Mr. McGinty also serves as Chief Compliance Officer of other funds. Mr. McGinty is Senior Vice President of Asset Management Compliance for Fidelity Investments and is an employee of Fidelity Investments (2016-present). Previously, Mr. McGinty served as Chief Compliance Officer of The North Carolina Capital Management Trust: Cash Portfolio and Term Portfolio (2019). Prior to joining Fidelity Investments, Mr. McGinty served as Vice President, Senior Attorney at Eaton Vance Management (investment management firm, 2015-2016), and prior to Eaton Vance as global CCO for all firm operations and registered investment companies at GMO LLC (investment management firm, 2009-2015). Before joining GMO LLC, Mr. McGinty served as Senior Vice President, Deputy General Counsel for Fidelity Investments (2007-2009).

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2015

Assistant Secretary

Mr. Pogorelec also serves as Assistant Secretary of other funds. Mr. Pogorelec serves as Vice President, Associate General Counsel (2010-present) and is an employee of Fidelity Investments (2006-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 and Chief Investment Officer of Global Asset Allocation and is an employee of Fidelity Investments (2018-present). 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, 2013-2018).

Shareholder Expense Example

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs and (2) ongoing costs, including management fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds 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, 2019 to March 31, 2020).

Actual Expenses

The first line of the accompanying table for each fund 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 fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. In addition, each Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's 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 for each fund provides information about hypothetical account values and hypothetical expenses based on a fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's 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. In addition, each Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's 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, 2019 
Ending
Account Value
March 31, 2020 
Expenses Paid
During Period
October 1, 2019
to March 31, 2020C,D 
Fidelity Flex Freedom Blend Income Fund - %    
Actual  $1,000.00 $984.00 $- 
Hypothetical-E  $1,000.00 $1,025.00 $- 
Fidelity Flex Freedom Blend 2005 Fund - %    
Actual  $1,000.00 $974.90 $- 
Hypothetical-E  $1,000.00 $1,025.00 $- 
Fidelity Flex Freedom Blend 2010 Fund - %    
Actual  $1,000.00 $959.80 $- 
Hypothetical-E  $1,000.00 $1,025.00 $- 
Fidelity Flex Freedom Blend 2015 Fund - %    
Actual  $1,000.00 $945.00 $- 
Hypothetical-E  $1,000.00 $1,025.00 $- 
Fidelity Flex Freedom Blend 2020 Fund - %    
Actual  $1,000.00 $932.50 $- 
Hypothetical-E  $1,000.00 $1,025.00 $- 
Fidelity Flex Freedom Blend 2025 Fund - %    
Actual  $1,000.00 $920.90 $- 
Hypothetical-E  $1,000.00 $1,025.00 $- 
Fidelity Flex Freedom Blend 2030 Fund - %    
Actual  $1,000.00 $906.80 $- 
Hypothetical-E  $1,000.00 $1,025.00 $- 
Fidelity Flex Freedom Blend 2035 Fund - %    
Actual  $1,000.00 $882.90 $- 
Hypothetical-E  $1,000.00 $1,025.00 $- 
Fidelity Flex Freedom Blend 2040 Fund - %    
Actual  $1,000.00 $869.90 $- 
Hypothetical-E  $1,000.00 $1,025.00 $- 
Fidelity Flex Freedom Blend 2045 Fund - %    
Actual  $1,000.00 $870.10 $- 
Hypothetical-E  $1,000.00 $1,025.00 $- 
Fidelity Flex Freedom Blend 2050 Fund - %    
Actual  $1,000.00 $870.00 $- 
Hypothetical-E  $1,000.00 $1,025.00 $- 
Fidelity Flex Freedom Blend 2055 Fund - %    
Actual  $1,000.00 $870.20 $- 
Hypothetical-E  $1,000.00 $1,025.00 $- 
Fidelity Flex Freedom Blend 2060 Fund - %    
Actual  $1,000.00 $870.10 $- 
Hypothetical-E  $1,000.00 $1,025.00 $- 
Fidelity Flex Freedom Blend 2065 Fund - %    
Actual  $1,000.00 $870.70 $- 
Hypothetical-E  $1,000.00 $1,025.00 $- 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Amount represents less than .005%.

 C Expenses are equal to each Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/ 366 (to reflect the one-half year period).

 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 05/11/20 05/08/20 $0.000 $0.041 
Fidelity Flex Freedom Blend 2005 Fund 05/11/20 05/08/20 $0.038 $0.055 
Fidelity Flex Freedom Blend 2010 Fund 05/11/20 05/08/20 $0.034 $0.083 
Fidelity Flex Freedom Blend 2015 Fund 05/11/20 05/08/20 $0.030 $0.093 
Fidelity Flex Freedom Blend 2020 Fund 05/11/20 05/08/20 $0.026 $0.111 
Fidelity Flex Freedom Blend 2025 Fund 05/11/20 05/08/20 $0.024 $0.117 
Fidelity Flex Freedom Blend 2030 Fund 05/11/20 05/08/20 $0.019 $0.149 
Fidelity Flex Freedom Blend 2035 Fund 05/11/20 05/08/20 $0.011 $0.162 
Fidelity Flex Freedom Blend 2040 Fund 05/11/20 05/08/20 $0.006 $0.162 
Fidelity Flex Freedom Blend 2045 Fund 05/11/20 05/08/20 $0.007 $0.160 
Fidelity Flex Freedom Blend 2050 Fund 05/11/20 05/08/20 $0.007 $0.160 
Fidelity Flex Freedom Blend 2055 Fund 05/11/20 05/08/20 $0.006 $0.165 
Fidelity Flex Freedom Blend 2060 Fund 05/11/20 05/08/20 $0.006 $0.166 
Fidelity Flex Freedom Blend 2065 Fund 05/11/20 05/08/20 $0.006 $0.130 

     

The funds hereby designate as capital gain dividend the amounts noted below for the taxable year ended March 31, 2020, or, if subsequently determined to be different, the net capital gain of such year.

Fidelity Flex Freedom Blend Income Fund $ 1,523 
Fidelity Flex Freedom Blend 2005 Fund $ 1,683 
Fidelity Flex Freedom Blend 2010 Fund $ 1,943 
Fidelity Flex Freedom Blend 2015 Fund $ 2,097 
Fidelity Flex Freedom Blend 2020 Fund $ 2,309 
Fidelity Flex Freedom Blend 2025 Fund $ 2,532 
Fidelity Flex Freedom Blend 2030 Fund $ 2,877 
Fidelity Flex Freedom Blend 2035 Fund $ 3,003 
Fidelity Flex Freedom Blend 2040 Fund $ 2,597 
Fidelity Flex Freedom Blend 2045 Fund $ 2,588 
Fidelity Flex Freedom Blend 2050 Fund $ 2,614 
Fidelity Flex Freedom Blend 2055 Fund $ 2,581 
Fidelity Flex Freedom Blend 2060 Fund $ 2,598 
Fidelity Flex Freedom Blend 2065 Fund $ 1,943 

  

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 32.84% 
Fidelity Flex Freedom Blend 2005 Fund 28.97% 
Fidelity Flex Freedom Blend 2010 Fund 24.44% 
Fidelity Flex Freedom Blend 2015 Fund 20.52% 
Fidelity Flex Freedom Blend 2020 Fund 17.44% 
Fidelity Flex Freedom Blend 2025 Fund 15.23% 
Fidelity Flex Freedom Blend 2030 Fund 12.00% 
Fidelity Flex Freedom Blend 2035 Fund 8.40% 
Fidelity Flex Freedom Blend 2040 Fund 6.63% 
Fidelity Flex Freedom Blend 2045 Fund 6.63% 
Fidelity Flex Freedom Blend 2050 Fund 6.62% 
Fidelity Flex Freedom Blend 2055 Fund 6.62% 
Fidelity Flex Freedom Blend 2060 Fund 6.62% 
Fidelity Flex Freedom Blend 2065 Fund 6.29% 

  

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 2019 0% 
May 2019 3% 
June 2019 5% 
July 2019 5% 
August 2019 5% 
September 2019 5% 
October 2019 5% 
November 2019 5% 
December 2019 5% 
February 2020 1% 
March 2020 1% 
Fidelity Flex Freedom Blend 2005 Fund  
December 2019 8% 
Fidelity Flex Freedom Blend 2010 Fund  
May 2019 1% 
December 2019 11% 
Fidelity Flex Freedom Blend 2015 Fund  
May 2019 2% 
December 2019 14% 
Fidelity Flex Freedom Blend 2020 Fund  
May 2019 1% 
December 2019 17% 
Fidelity Flex Freedom Blend 2025 Fund  
May 2019 2% 
December 2019 19% 
Fidelity Flex Freedom Blend 2030 Fund  
May 2019 4% 
December 2019 24% 
Fidelity Flex Freedom Blend 2035 Fund  
May 2019 10% 
December 2019 29% 
Fidelity Flex Freedom Blend 2040 Fund  
May 2019 10% 
December 2019 31% 
Fidelity Flex Freedom Blend 2045 Fund  
May 2019 11% 
December 2019 31% 
Fidelity Flex Freedom Blend 2050 Fund  
May 2019 11% 
December 2019 31% 
Fidelity Flex Freedom Blend 2055 Fund  
May 2019 10% 
December 2019 31% 
Fidelity Flex Freedom Blend 2060 Fund  
May 2019 11% 
December 2019 31% 
Fidelity Flex Freedom Blend 2065 Fund  
December 2019 29% 

  

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 2019 0% 
May 2019 10% 
June 2019 14% 
July 2019 14% 
August 2019 14% 
September 2019 14% 
October 2019 14% 
November 2019 14% 
December 2019 14% 
February 2020 2% 
March 2020 2% 
Fidelity Flex Freedom Blend 2005 Fund  
May 2019 1% 
December 2019 19% 
Fidelity Flex Freedom Blend 2010 Fund  
May 2019 2% 
December 2019 24% 
Fidelity Flex Freedom Blend 2015 Fund  
May 2019 2% 
December 2019 30% 
Fidelity Flex Freedom Blend 2020 Fund  
May 2019 3% 
December 2019 35% 
Fidelity Flex Freedom Blend 2025 Fund  
May 2019 3% 
December 2019 39% 
Fidelity Flex Freedom Blend 2030 Fund  
May 2019 6% 
December 2019 49% 
Fidelity Flex Freedom Blend 2035 Fund  
May 2019 11% 
December 2019 59% 
Fidelity Flex Freedom Blend 2040 Fund  
May 2019 19% 
December 2019 62% 
Fidelity Flex Freedom Blend 2045 Fund  
May 2019 19% 
December 2019 61% 
Fidelity Flex Freedom Blend 2050 Fund  
May 2019 20% 
December 2019 62% 
Fidelity Flex Freedom Blend 2055 Fund  
May 2019 19% 
December 2019 61% 
Fidelity Flex Freedom Blend 2060 Fund  
May 2019 19% 
December 2019 62% 
Fidelity Flex Freedom Blend 2065 Fund  
December 2019 57% 

  

A percentage of the dividends distributed during the prior fiscal year for the following funds qualify as a section 199A dividend:

Fidelity Flex Freedom Blend Income Fund  
February 2019 1% 

March 2019 1% 

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 2019 0% 
May 2019 1% 
June 2019 1% 
July 2019 1% 
August 2019 1% 
September 2019 1% 
October 2019 1% 
November 2019 1% 
December 2019 1% 
February 2020 1% 
March 2020 1% 
Fidelity Flex Freedom Blend 2005 Fund  
May 2019 1% 
December 2019 2% 
Fidelity Flex Freedom Blend 2010 Fund  
May 2019 1% 
December 2019 2% 
Fidelity Flex Freedom Blend 2015 Fund  
May 2019 1% 
December 2019 2% 
Fidelity Flex Freedom Blend 2020 Fund  
May 2019 2% 
December 2019 2% 
Fidelity Flex Freedom Blend 2025 Fund  
May 2019 2% 
December 2019 2% 
Fidelity Flex Freedom Blend 2030 Fund  
May 2019 3% 
December 2019 3% 
Fidelity Flex Freedom Blend 2035 Fund  
May 2019 5% 
December 2019 3% 
Fidelity Flex Freedom Blend 2040 Fund  
May 2019 7% 
December 2019 3% 
Fidelity Flex Freedom Blend 2045 Fund  
May 2019 7% 
December 2019 3% 
Fidelity Flex Freedom Blend 2050 Fund  
May 2019 7% 
December 2019 3% 
Fidelity Flex Freedom Blend 2055 Fund  
May 2019 7% 
December 2019 3% 
Fidelity Flex Freedom Blend 2060 Fund  
May 2019 7% 
December 2019 3% 
Fidelity Flex Freedom Blend 2065 Fund  
December 2019 3% 

  

The funds will notify shareholders in January 2021 of amounts for use in preparing 2020 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, 2018 through November 30, 2019. 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.





Fidelity Investments

XFC-ANN-0520
1.9884226.102




Fidelity Freedom® Blend Funds - Income, 2005, 2010, 2015, 2020, 2025, 2030, 2035, 2040, 2045, 2050, 2055, 2060, 2065



Annual Report

March 31, 2020

Includes Fidelity and Fidelity Advisor share classes

Fidelity Investments
See the inside front cover for important information about access to your fund’s shareholder reports.


Fidelity Investments

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary, such as a financial advisor, broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a fund electronically, by contacting your financial intermediary. For Fidelity customers, visit Fidelity's web site or call Fidelity using the contact information listed below.

You may elect to receive all future reports in paper free of charge. If you wish to continue receiving paper copies of your shareholder reports, you may contact your financial intermediary or, if you are a Fidelity customer, visit Fidelity’s website, or call Fidelity at the applicable toll-free number listed below. Your election to receive reports in paper will apply to all funds held with the fund complex/your financial intermediary.

Account Type Website Phone Number 
Brokerage, Mutual Fund, or Annuity Contracts: fidelity.com/mailpreferences 1-800-343-3548 
Employer Provided Retirement Accounts: netbenefits.fidelity.com/preferences (choose 'no' under Required Disclosures to continue to print) 1-800-343-0860 
Advisor Sold Accounts Serviced Through Your Financial Intermediary: Contact Your Financial Intermediary Your Financial Intermediary's phone number 
Advisor Sold Accounts Serviced by Fidelity: institutional.fidelity.com 1-877-208-0098 


Contents

Note to Shareholders

Performance

Management's Discussion of Fund Performance

Fidelity Freedom® Blend Income Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Blend 2005 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Blend 2010 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Blend 2015 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Blend 2020 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Blend 2025 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Blend 2030 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Blend 2035 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Blend 2040 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Blend 2045 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Blend 2050 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Blend 2055 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Blend 2060 Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity Freedom® Blend 2065 Fund

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Report of Independent Registered Public Accounting Firm

Trustees and Officers

Shareholder Expense Example

Distributions

Liquidity Risk Management Program


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. © 2020 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 corporate earnings. The virus causes a respiratory disease known as COVID-19. On March 11, 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, the U.S. government took unprecedented action – in concert with the U.S. Federal Reserve and central banks around the world – to help support consumers, businesses, and the broader economy, and to limit disruption to the financial system.

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, 2020 Past 1 year Life of fundA 
Class A (incl. 5.75% sales charge) (4.24)% (1.53)% 
Class M (incl. 3.50% sales charge) (2.20)% (0.30)% 
Class C (incl. contingent deferred sales charge) (0.14)% 1.46% 
Fidelity Freedom® Blend Income Fund 1.83% 2.45% 
Class K 1.90% 2.60% 
Class K6 1.97% 2.67% 
Class I 1.76% 2.46% 
Class Z 1.86% 2.57% 
Class Z6 2.04% 2.71% 

 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

$10,391Fidelity Freedom® Blend Income Fund

$11,324Bloomberg 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, 2020 Past 1 year Life of fundA 
Class A (incl. 5.75% sales charge) (5.11)% (2.27)% 
Class M (incl. 3.50% sales charge) (3.06)% (1.06)% 
Class C (incl. contingent deferred sales charge) (1.05)% 0.68% 
Fidelity Freedom® Blend 2005 Fund 0.94% 1.73% 
Class K 1.06% 1.83% 
Class K6 1.19% 1.93% 
Class I 0.86% 1.68% 
Class Z 1.01% 1.80% 
Class Z6 1.11% 1.88% 

 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

$10,275Fidelity Freedom® Blend 2005 Fund

$11,324Bloomberg 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, 2020 Past 1 year Life of fundA 
Class A (incl. 5.75% sales charge) (6.52)% (3.42)% 
Class M (incl. 3.50% sales charge) (4.53)% (2.25)% 
Class C (incl. contingent deferred sales charge) (2.54)% (0.49)% 
Fidelity Freedom® Blend 2010 Fund (0.56)% 0.50% 
Class K (0.43)% 0.60% 
Class K6 (0.44)% 0.67% 
Class I (0.53)% 0.51% 
Class Z (0.40)% 0.61% 
Class Z6 (0.43)% 0.68% 

 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 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

$10,080Fidelity Freedom® Blend 2010 Fund

$11,324Bloomberg 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, 2020 Past 1 year Life of fundA 
Class A (incl. 5.75% sales charge) (7.99)% (4.62)% 
Class M (incl. 3.50% sales charge) (5.91)% (3.37)% 
Class C (incl. contingent deferred sales charge) (3.99)% (1.66)% 
Fidelity Freedom® Blend 2015 Fund (2.09)% (0.69)% 
Class K (2.03)% (0.62)% 
Class K6 (1.86)% (0.48)% 
Class I (2.09)% (0.68)% 
Class Z (1.99)% (0.59)% 
Class Z6 (1.95)% (0.54)% 

 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

$9,891Fidelity Freedom® Blend 2015 Fund

$11,324Bloomberg 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, 2020 Past 1 year Life of fundA 
Class A (incl. 5.75% sales charge) (9.19)% (5.58)% 
Class M (incl. 3.50% sales charge) (7.27)% (4.46)% 
Class C (incl. contingent deferred sales charge) (5.36)% (2.76)% 
Fidelity Freedom® Blend 2020 Fund (3.38)% (1.76)% 
Class K (3.35)% (1.68)% 
Class K6 (3.21)% (1.56)% 
Class I (3.50)% (1.80)% 
Class Z (3.35)% (1.67)% 
Class Z6 (3.19)% (1.55)% 

 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

$9,723Fidelity Freedom® Blend 2020 Fund

$9,195S&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, 2020 Past 1 year Life of fundA 
Class A (incl. 5.75% sales charge) (10.21)% (6.41)% 
Class M (incl. 3.50% sales charge) (8.27)% (5.21)% 
Class C (incl. contingent deferred sales charge) (6.37)% (3.55)% 
Fidelity Freedom® Blend 2025 Fund (4.45)% (2.58)% 
Class K (4.34)% (2.48)% 
Class K6 (4.28)% (2.36)% 
Class I (4.46)% (2.58)% 
Class Z (4.30)% (2.46)% 
Class Z6 (4.35)% (2.40)% 

 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

$9,595Fidelity Freedom® Blend 2025 Fund

$9,195S&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, 2020 Past 1 year Life of fundA 
Class A (incl. 5.75% sales charge) (11.49)% (7.68)% 
Class M (incl. 3.50% sales charge) (9.71)% (6.58)% 
Class C (incl. contingent deferred sales charge) (7.85)% (4.93)% 
Fidelity Freedom® Blend 2030 Fund (5.94)% (3.95)% 
Class K (5.86)% (3.84)% 
Class K6 (5.71)% (3.71)% 
Class I (5.92)% (3.96)% 
Class Z (5.83)% (3.82)% 
Class Z6 (5.72)% (3.72)% 

 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

$9,382Fidelity Freedom® Blend 2030 Fund

$9,195S&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, 2020 Past 1 year Life of fundA 
Class A (incl. 5.75% sales charge) (14.13)% (9.85)% 
Class M (incl. 3.50% sales charge) (12.24)% (8.67)% 
Class C (incl. contingent deferred sales charge) (10.42)% (7.06)% 
Fidelity Freedom® Blend 2035 Fund (8.68)% (6.15)% 
Class K (8.56)% (6.08)% 
Class K6 (8.41)% (5.95)% 
Class I (8.60)% (6.12)% 
Class Z (8.52)% (6.05)% 
Class Z6 (8.48)% (5.94)% 

 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 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

$9,045Fidelity Freedom® Blend 2035 Fund

$9,195S&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, 2020 Past 1 year Life of fundA 
Class A (incl. 5.75% sales charge) (15.71)% (11.03)% 
Class M (incl. 3.50% sales charge) (13.86)% (9.91)% 
Class C (incl. contingent deferred sales charge) (11.96)% (8.27)% 
Fidelity Freedom® Blend 2040 Fund (10.24)% (7.39)% 
Class K (10.22)% (7.28)% 
Class K6 (10.07)% (7.16)% 
Class I (10.17)% (7.34)% 
Class Z (10.17)% (7.26)% 
Class Z6 (10.14)% (7.21)% 

 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

$8,855Fidelity Freedom® Blend 2040 Fund

$9,195S&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, 2020 Past 1 year Life of fundA 
Class A (incl. 5.75% sales charge) (15.53)% (11.00)% 
Class M (incl. 3.50% sales charge) (13.84)% (9.95)% 
Class C (incl. contingent deferred sales charge) (12.00)% (8.31)% 
Fidelity Freedom® Blend 2045 Fund (10.29)% (7.41)% 
Class K (10.14)% (7.33)% 
Class K6 (10.10)% (7.22)% 
Class I (10.18)% (7.37)% 
Class Z (10.10)% (7.30)% 
Class Z6 (10.10)% (7.22)% 

 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

$8,853Fidelity Freedom® Blend 2045 Fund

$9,195S&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, 2020 Past 1 year Life of fundA 
Class A (incl. 5.75% sales charge) (15.63)% (11.03)% 
Class M (incl. 3.50% sales charge) (13.92)% (9.96)% 
Class C (incl. contingent deferred sales charge) (12.09)% (8.35)% 
Fidelity Freedom® Blend 2050 Fund (10.29)% (7.45)% 
Class K (10.17)% (7.31)% 
Class K6 (10.13)% (7.26)% 
Class I (10.32)% (7.43)% 
Class Z (10.24)% (7.35)% 
Class Z6 (10.15)% (7.27)% 

 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

$8,846Fidelity Freedom® Blend 2050 Fund

$9,195S&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, 2020 Past 1 year Life of fundA 
Class A (incl. 5.75% sales charge) (15.69)% (11.05)% 
Class M (incl. 3.50% sales charge) (13.85)% (9.88)% 
Class C (incl. contingent deferred sales charge) (11.99)% (8.31)% 
Fidelity Freedom® Blend 2055 Fund (10.22)% (7.39)% 
Class K (10.17)% (7.27)% 
Class K6 (10.11)% (7.22)% 
Class I (10.32)% (7.40)% 
Class Z (10.23)% (7.32)% 
Class Z6 (10.11)% (7.22)% 

 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

$8,856Fidelity Freedom® Blend 2055 Fund

$9,195S&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, 2020 Past 1 year Life of fundA 
Class A (incl. 5.75% sales charge) (15.68)% (11.07)% 
Class M (incl. 3.50% sales charge) (13.92)% (9.95)% 
Class C (incl. contingent deferred sales charge) (12.09)% (8.34)% 
Fidelity Freedom® Blend 2060 Fund (10.35)% (7.42)% 
Class K (10.22)% (7.34)% 
Class K6 (10.12)% (7.25)% 
Class I (10.37)% (7.45)% 
Class Z (10.17)% (7.30)% 
Class Z6 (10.10)% (7.24)% 

 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

$8,851Fidelity Freedom® Blend 2060 Fund

$9,195S&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 Fidelity Freedom® Blend 2065 Fund will be reported once the fund is a year old.

$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

$8,672Fidelity Freedom® Blend 2065 Fund

$8,918S&P 500® Index

Management's Discussion of Fund Performance

Market Recap:  The performance of financial assets during the 12-month period ending March 31, 2020 was significantly influenced by the outbreak and spread of a novel coronavirus in the first quarter of 2020. The outbreak curtailed global economic growth and the outlook for corporate earnings in domestic and foreign markets. Declared a pandemic on March 11, the crisis and containment efforts led to increased uncertainty, broad-based contraction in economic activity, higher volatility, and dislocation in the financial markets as investors digested new information. Against this backdrop, the Dow Jones U.S. Total Stock Market Index had a return of -9.28% for the year. By mid-March, the U.S. stock market entered bear-market territory less than a month after hitting an all-time high. The energy sector (-55%) fared worst, whereas information technology (+7%) stood out as the only sector with a positive return. Consumer staples and health care (-2% each) held up reasonably well. Large-cap stocks outpaced smaller-caps, while growth outpaced value. Elsewhere, commodities generally lagged equities. Non-U.S. equities returned -15.42% for the 12 months, according to the MSCI ACWI (All Country World Index) ex USA Index. With the exception of Japan (-6%), all regions within the index experienced a double-digit decline. The U.K. and Asia Pacific ex Japan (-23% each) regions fared worst, while Europe ex U.K. (-12%) outperformed. Sector-wise, notable laggards included energy (-37%), real estate (-25%) and financials (-24%), while health care (+5%) and information technology (+2%) outperformed. Turning to fixed income, U.S. taxable investment-grade bonds (the Bloomberg Barclays U.S. Aggregate Bond Index) advanced 8.93%, as investors generally sought their relative safety. Within the index, U.S. Treasury bonds led the way (+13%), while others securitized debt categories lagged. Extended (non-core) fixed income classes, such as leveraged loans fared poorly (-10%), as did high-yield bonds (-7%) and emerging-markets debt (-5).

Comments from Co-Portfolio Managers Andrew Dierdorf and Brett Sumsion:  For the year, returns for the Freedom Blend Funds' share classes (excluding sales charges, if applicable) ranged from roughly 2% for the more-income-oriented Funds – earmarked for investors with a shorter retirement-savings horizon – to about -10% for the more-equity-oriented Funds, suited to investors with a longer retirement-savings horizon. Each Fund trailed its Composite index this period. Active asset allocation decisions drove the majority of the Funds’ underperformance relative to Composite indexes during the past 12 months. In particular, underweighting investment-grade bonds, which performed relatively well, held back the Funds’ performance versus Composites. Exposure to poor-performing commodities, which are not part of the Composite indexes, also hurt, as did an overweighting in non-U.S. equities – one of the weaker-performing asset classes. Meanwhile, underweighting lagging U.S. equities contributed to the Funds’ relative performance. Overweight allocations to inflation-protected securities and short-term securities also helped, as both asset classes had a positive return. The performance of the underlying investment portfolios had mixed results relative to Composites. More specifically, returns among underlying non-U.S. equity funds, in aggregate, contributed. Here, investments in both developed-markets equities and emerging-markets stocks added value. In particular, investments in Fidelity® Series Emerging Markets Fund and Fidelity® Series International Growth Fund were notable contributors, as each outperformed its benchmark. Conversely, investments in Fidelity® Series Investment Grade Bond Fund and Fidelity® Series Large Cap Stock Fund were notable detractors, as both funds lagged their respective 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® 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, 2020

 % of fund's net assets 
Fidelity Series Treasury Bill Index Fund 16.4 
Fidelity Series Inflation-Protected Bond Index Fund 12.1 
Fidelity Series Government Bond Index Fund 11.9 
Fidelity Series Investment Grade Bond Fund 11.6 
Fidelity Series Investment Grade Securitized Fund 8.1 
Fidelity Series Corporate Bond Fund 7.7 
Fidelity Series Government Money Market Fund 0.4% 5.1 
Fidelity Series Short-Term Credit Fund 4.8 
Fidelity Series Emerging Markets Opportunities Fund 4.1 
Fidelity Series Commodity Strategy Fund 3.4 
 85.2 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 7.1% 
   International Equity Funds 10.9% 
   Bond Funds 55.7% 
   Short-Term Funds 26.3% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 7.1%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 27,561 $355,531 
Fidelity Series Commodity Strategy Fund (a) 405,486 1,480,023 
Fidelity Series Large Cap Growth Index Fund (a) 24,660 247,587 
Fidelity Series Large Cap Stock Fund (a) 21,338 255,848 
Fidelity Series Large Cap Value Index Fund (a) 50,959 489,718 
Fidelity Series Small Cap Opportunities Fund (a) 11,668 118,432 
Fidelity Series Value Discovery Fund (a) 14,310 142,099 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $3,664,686)  3,089,238 
International Equity Funds - 10.9%   
Fidelity Series Canada Fund (a) 28,452 235,871 
Fidelity Series Emerging Markets Fund (a) 25,572 181,052 
Fidelity Series Emerging Markets Opportunities Fund (a) 115,245 1,794,359 
Fidelity Series International Growth Fund (a) 48,152 697,239 
Fidelity Series International Index Fund (a) 30,767 252,292 
Fidelity Series International Small Cap Fund (a) 15,085 201,686 
Fidelity Series International Value Fund (a) 96,503 689,032 
Fidelity Series Overseas Fund (a) 78,339 677,636 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $5,552,306)  4,729,167 
Bond Funds - 55.7%   
Fidelity Series Corporate Bond Fund (a) 328,873 3,341,347 
Fidelity Series Emerging Markets Debt Fund (a) 33,907 273,292 
Fidelity Series Floating Rate High Income Fund (a) 7,345 59,053 
Fidelity Series Government Bond Index Fund (a) 461,158 5,206,475 
Fidelity Series High Income Fund (a) 36,339 299,437 
Fidelity Series Inflation-Protected Bond Index Fund (a) 522,160 5,263,372 
Fidelity Series Investment Grade Bond Fund (a) 440,902 5,083,603 
Fidelity Series Investment Grade Securitized Fund (a) 336,180 3,543,334 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 100,729 1,076,791 
Fidelity Series Real Estate Income Fund (a) 19,359 162,999 
TOTAL BOND FUNDS   
(Cost $23,627,993)  24,309,703 
Short-Term Funds - 26.3%   
Fidelity Cash Central Fund 0.29% (b) 49 49 
Fidelity Series Government Money Market Fund 0.4% (a)(c) 2,245,847 2,245,847 
Fidelity Series Short-Term Credit Fund (a) 211,922 2,093,791 
Fidelity Series Treasury Bill Index Fund (a) 711,839 7,146,861 
TOTAL SHORT-TERM FUNDS   
(Cost $11,489,608)  11,486,548 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $44,334,593)  43,614,656 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (608) 
NET ASSETS - 100%  $43,614,048 

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 $47,541 $855,948 $514,213 $50,240 $(15,216) $(18,529) $355,531 
Fidelity Series Canada Fund 6,848 320,583 27,071 2,360 186 (64,675) 235,871 
Fidelity Series Commodity Strategy Fund 68,015 2,165,837 382,284 17,551 (18,822) (352,723) 1,480,023 
Fidelity Series Corporate Bond Fund 213,324 4,060,499 853,438 101,984 (9,710) (69,328) 3,341,347 
Fidelity Series Emerging Markets Debt Fund 19,496 386,231 88,149 12,768 (1,896) (42,390) 273,292 
Fidelity Series Emerging Markets Fund 9,756 273,422 44,270 4,110 (2,379) (55,477) 181,052 
Fidelity Series Emerging Markets Opportunities Fund 88,405 2,510,750 478,572 41,206 (7,675) (318,549) 1,794,359 
Fidelity Series Floating Rate High Income Fund 4,126 77,877 14,232 2,800 (355) (8,363) 59,053 
Fidelity Series Government Bond Index Fund 293,262 5,706,421 1,191,720 89,761 (1,497) 400,009 5,206,475 
Fidelity Series Government Money Market Fund 0.4% 125,285 3,375,589 1,255,027 29,180 -- -- 2,245,847 
Fidelity Series High Income Fund 30,561 391,820 80,857 15,841 (1,640) (40,447) 299,437 
Fidelity Series Inflation-Protected Bond Index Fund 369,954 6,518,220 1,725,528 62,063 544 100,182 5,263,372 
Fidelity Series International Growth Fund 57,069 1,087,817 408,853 25,844 4,017 (42,811) 697,239 
Fidelity Series International Index Fund 14,959 363,381 74,208 4,572 (2,569) (49,271) 252,292 
Fidelity Series International Small Cap Fund 14,971 289,137 66,364 9,002 (1,539) (34,519) 201,686 
Fidelity Series International Value Fund 56,471 1,121,686 308,884 28,597 (6,613) (173,628) 689,032 
Fidelity Series Investment Grade Bond Fund 311,706 5,902,324 1,202,069 114,467 (6,157) 77,799 5,083,603 
Fidelity Series Investment Grade Securitized Fund 219,982 4,089,573 857,618 97,987 (1,105) 92,502 3,543,334 
Fidelity Series Large Cap Growth Index Fund 37,212 607,339 409,388 5,375 15,723 (3,299) 247,587 
Fidelity Series Large Cap Stock Fund 37,058 646,019 370,970 25,426 (12,028) (44,231) 255,848 
Fidelity Series Large Cap Value Index Fund 69,344 1,254,811 690,937 49,435 (40,525) (102,975) 489,718 
Fidelity Series Long-Term Treasury Bond Index Fund 129,480 1,737,208 1,012,196 93,185 42,659 179,640 1,076,791 
Fidelity Series Overseas Fund -- 777,310 1,940 1,523 (97,743) 677,636 
Fidelity Series Real Estate Income Fund 13,102 244,563 45,054 9,311 (1,467) (48,145) 162,999 
Fidelity Series Short-Term Credit Fund 123,884 2,383,033 381,145 41,113 (106) (31,875) 2,093,791 
Fidelity Series Small Cap Opportunities Fund 18,461 294,026 153,767 11,818 (6,165) (34,123) 118,432 
Fidelity Series Treasury Bill Index Fund 375,199 8,043,567 1,299,839 87,135 113 27,821 7,146,861 
Fidelity Series Value Discovery Fund 21,956 362,945 203,021 11,237 (5,840) (33,941) 142,099 
 $2,777,427 $55,847,936 $14,141,614 $1,045,891 $(80,053) $(789,089) $43,614,607 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $49) $49  
Other affiliated issuers (cost $44,334,544) 43,614,607  
Total Investment in Securities (cost $44,334,593)  $43,614,656 
Cash  274 
Receivable for investments sold  403,599 
Receivable for fund shares sold  707 
Total assets  44,019,236 
Liabilities   
Payable for investments purchased $7  
Payable for fund shares redeemed 394,813  
Accrued management fee 9,942  
Distribution and service plan fees payable 426  
Total liabilities  405,188 
Net Assets  $43,614,048 
Net Assets consist of:   
Paid in capital  $44,297,885 
Total accumulated earnings (loss)  (683,837) 
Net Assets  $43,614,048 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($699,286 ÷ 70,071 shares)(a)  $9.98 
Maximum offering price per share (100/94.25 of $9.98)  $10.59 
Class M:   
Net Asset Value and redemption price per share ($155,681 ÷ 15,599 shares)(a)  $9.98 
Maximum offering price per share (100/96.50 of $9.98)  $10.34 
Class C:   
Net Asset Value and offering price per share ($227,639 ÷ 22,877 shares)(a)  $9.95 
Fidelity Freedom Blend Income Fund:   
Net Asset Value, offering price and redemption price per share ($2,729,423 ÷ 273,387 shares)  $9.98 
Class K:   
Net Asset Value, offering price and redemption price per share ($403,967 ÷ 40,449 shares)  $9.99 
Class K6:   
Net Asset Value, offering price and redemption price per share ($38,897,813 ÷ 3,892,923 shares)  $9.99 
Class I:   
Net Asset Value, offering price and redemption price per share ($241,950 ÷ 24,214 shares)  $9.99 
Class Z:   
Net Asset Value, offering price and redemption price per share ($104,135 ÷ 10,420 shares)  $9.99 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($154,154 ÷ 15,420 shares)  $10.00 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $749,101 
Expenses   
Management fee $90,749  
Distribution and service plan fees 3,854  
Independent trustees' fees and expenses 107  
Total expenses  94,710 
Net investment income (loss)  654,391 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers (79,927)  
Capital gain distributions from underlying funds:   
Affiliated issuers 296,790  
Total net realized gain (loss)  216,863 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (789,089)  
Total change in net unrealized appreciation (depreciation)  (789,089) 
Net gain (loss)  (572,226) 
Net increase (decrease) in net assets resulting from operations  $82,165 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 For the period
August 31, 2018 (commencement of operations) to March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $654,391 $22,993 
Net realized gain (loss) 216,863 4,742 
Change in net unrealized appreciation (depreciation) (789,089) 69,152 
Net increase (decrease) in net assets resulting from operations 82,165 96,887 
Distributions to shareholders (838,295) (24,594) 
Share transactions - net increase (decrease) 41,593,540 2,704,345 
Total increase (decrease) in net assets 40,837,410 2,776,638 
Net Assets   
Beginning of period 2,776,638 – 
End of period $43,614,048 $2,776,638 

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, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.03 $10.00 
Income from Investment Operations   
Net investment income (loss)B .16 .11 
Net realized and unrealized gain (loss) .01C .08 
Total from investment operations .17 .19 
Distributions from net investment income (.15) (.11) 
Distributions from net realized gain (.07) (.05) 
Total distributions (.22) (.16) 
Net asset value, end of period $9.98 $10.03 
Total ReturnD,E 1.60% 1.91% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .71% .71%H 
Expenses net of fee waivers, if any .71% .71%H 
Expenses net of all reductions .71% .71%H 
Net investment income (loss) 1.55% 1.95%H 
Supplemental Data   
Net assets, end of period (000 omitted) $699 $107 
Portfolio turnover rateG 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend Income Fund Class M

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.03 $10.00 
Income from Investment Operations   
Net investment income (loss)B .13 .10 
Net realized and unrealized gain (loss) .01C .07 
Total from investment operations .14 .17 
Distributions from net investment income (.12) (.09) 
Distributions from net realized gain (.07) (.05) 
Total distributions (.19) (.14) 
Net asset value, end of period $9.98 $10.03 
Total ReturnD,E 1.35% 1.76% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .96% .96%H 
Expenses net of fee waivers, if any .96% .96%H 
Expenses net of all reductions .96% .96%H 
Net investment income (loss) 1.30% 1.70%H 
Supplemental Data   
Net assets, end of period (000 omitted) $156 $102 
Portfolio turnover rateG 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend Income Fund Class C

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.01 $10.00 
Income from Investment Operations   
Net investment income (loss)B .08 .07 
Net realized and unrealized gain (loss) .01C .07 
Total from investment operations .09 .14 
Distributions from net investment income (.08) (.08) 
Distributions from net realized gain (.07) (.05) 
Total distributions (.15) (.13) 
Net asset value, end of period $9.95 $10.01 
Total ReturnD,E .85% 1.45% 
Ratios to Average Net AssetsF,G   
Expenses before reductions 1.46% 1.47%H,I 
Expenses net of fee waivers, if any 1.46% 1.47%H,I 
Expenses net of all reductions 1.46% 1.47%H,I 
Net investment income (loss) .81% 1.19%H 
Supplemental Data   
Net assets, end of period (000 omitted) $228 $123 
Portfolio turnover rateG 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend Income Fund

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.03 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .13 
Net realized and unrealized gain (loss) .01C .07 
Total from investment operations .19 .20 
Distributions from net investment income (.17) (.12) 
Distributions from net realized gain (.07) (.05) 
Total distributions (.24) (.17) 
Net asset value, end of period $9.98 $10.03 
Total ReturnD 1.83% 2.04% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .46% .46%G 
Expenses net of fee waivers, if any .46% .46%G 
Expenses net of all reductions .46% .46%G 
Net investment income (loss) 1.80% 2.20%G 
Supplemental Data   
Net assets, end of period (000 omitted) $2,729 $378 
Portfolio turnover rateF 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend Income Fund Class K

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.04 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .13 
Net realized and unrealized gain (loss) C .08 
Total from investment operations .20 .21 
Distributions from net investment income (.18) (.12) 
Distributions from net realized gain (.07) (.05) 
Total distributions (.25) (.17) 
Net asset value, end of period $9.99 $10.04 
Total ReturnD 1.90% 2.20% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .36% .36%G 
Expenses net of fee waivers, if any .36% .36%G 
Expenses net of all reductions .36% .36%G 
Net investment income (loss) 1.90% 2.30%G 
Supplemental Data   
Net assets, end of period (000 omitted) $404 $102 
Portfolio turnover rateF 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend Income Fund Class K6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.04 $10.00 
Income from Investment Operations   
Net investment income (loss)B .21 .14 
Net realized and unrealized gain (loss) C .08 
Total from investment operations .21 .22 
Distributions from net investment income (.19) (.13) 
Distributions from net realized gain (.07) (.05) 
Total distributions (.26) (.18) 
Net asset value, end of period $9.99 $10.04 
Total ReturnD 1.97% 2.24% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .26% .26%G 
Expenses net of fee waivers, if any .26% .26%G 
Expenses net of all reductions .26% .26%G 
Net investment income (loss) 2.00% 2.39%G 
Supplemental Data   
Net assets, end of period (000 omitted) $38,898 $1,658 
Portfolio turnover rateF 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend Income Fund Class I

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.04 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .13 
Net realized and unrealized gain (loss) (.01) .08 
Total from investment operations .18 .21 
Distributions from net investment income (.17) (.12) 
Distributions from net realized gain (.07) (.05) 
Total distributions (.23)C (.17) 
Net asset value, end of period $9.99 $10.04 
Total ReturnD 1.76% 2.14% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .46% .46%G 
Expenses net of fee waivers, if any .46% .46%G 
Expenses net of all reductions .46% .46%G 
Net investment income (loss) 1.80% 2.20%G 
Supplemental Data   
Net assets, end of period (000 omitted) $242 $102 
Portfolio turnover rateF 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 of $.23 per share is comprised of distributions from net investment income of $.165 and distributions from net realized gain of $.068 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend Income Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.04 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .13 
Net realized and unrealized gain (loss) (.01) .08 
Total from investment operations .19 .21 
Distributions from net investment income (.18) (.12) 
Distributions from net realized gain (.07) (.05) 
Total distributions (.24)C (.17) 
Net asset value, end of period $9.99 $10.04 
Total ReturnD 1.86% 2.20% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .36% .36%G 
Expenses net of fee waivers, if any .36% .36%G 
Expenses net of all reductions .36% .36%G 
Net investment income (loss) 1.90% 2.30%G 
Supplemental Data   
Net assets, end of period (000 omitted) $104 $102 
Portfolio turnover rateF 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 of $.24 per share is comprised of distributions from net investment income of $.175 and distributions from net realized gain of $.068 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend Income Fund Class Z6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.04 $10.00 
Income from Investment Operations   
Net investment income (loss)B .21 .14 
Net realized and unrealized gain (loss) C .08 
Total from investment operations .21 .22 
Distributions from net investment income (.18) (.13) 
Distributions from net realized gain (.07) (.05) 
Total distributions (.25) (.18) 
Net asset value, end of period $10.00 $10.04 
Total ReturnD 2.04% 2.23% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .26% .26%G 
Expenses net of fee waivers, if any .26% .26%G 
Expenses net of all reductions .26% .26%G 
Net investment income (loss) 2.00% 2.40%G 
Supplemental Data   
Net assets, end of period (000 omitted) $154 $102 
Portfolio turnover rateF 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Treasury Bill Index Fund 14.7 
Fidelity Series Government Bond Index Fund 11.2 
Fidelity Series Investment Grade Bond Fund 11.0 
Fidelity Series Inflation-Protected Bond Index Fund 11.0 
Fidelity Series Investment Grade Securitized Fund 7.6 
Fidelity Series Corporate Bond Fund 7.3 
Fidelity Series Emerging Markets Opportunities Fund 4.7 
Fidelity Series Government Money Market Fund 0.4% 4.4 
Fidelity Series Short-Term Credit Fund 4.3 
Fidelity Series Commodity Strategy Fund 3.4 
 79.6 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 10.8% 
   International Equity Funds 13.3% 
   Bond Funds 52.5% 
   Short-Term Funds 23.4% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 10.8%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 18,149 $234,125 
Fidelity Series Commodity Strategy Fund (a) 137,919 503,406 
Fidelity Series Large Cap Growth Index Fund (a) 16,912 169,793 
Fidelity Series Large Cap Stock Fund (a) 14,664 175,820 
Fidelity Series Large Cap Value Index Fund (a) 34,484 331,392 
Fidelity Series Small Cap Opportunities Fund (a) 8,360 84,852 
Fidelity Series Value Discovery Fund (a) 10,121 100,501 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $1,882,826)  1,599,889 
International Equity Funds - 13.3%   
Fidelity Series Canada Fund (a) 13,001 107,781 
Fidelity Series Emerging Markets Fund (a) 9,937 70,351 
Fidelity Series Emerging Markets Opportunities Fund (a) 45,015 700,881 
Fidelity Series International Growth Fund (a) 21,614 312,968 
Fidelity Series International Index Fund (a) 12,389 101,586 
Fidelity Series International Small Cap Fund (a) 6,536 87,392 
Fidelity Series International Value Fund (a) 41,420 295,735 
Fidelity Series Overseas Fund (a) 34,173 295,600 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $2,299,944)  1,972,294 
Bond Funds - 52.5%   
Fidelity Series Corporate Bond Fund (a) 106,135 1,078,330 
Fidelity Series Emerging Markets Debt Fund (a) 11,537 92,988 
Fidelity Series Floating Rate High Income Fund (a) 2,501 20,111 
Fidelity Series Government Bond Index Fund (a) 147,606 1,666,476 
Fidelity Series High Income Fund (a) 12,370 101,928 
Fidelity Series Inflation-Protected Bond Index Fund (a) 162,160 1,634,575 
Fidelity Series Investment Grade Bond Fund (a) 141,936 1,636,524 
Fidelity Series Investment Grade Securitized Fund (a) 107,449 1,132,511 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 34,480 368,589 
Fidelity Series Real Estate Income Fund (a) 6,588 55,473 
TOTAL BOND FUNDS   
(Cost $7,508,004)  7,787,505 
Short-Term Funds - 23.4%   
Fidelity Cash Central Fund 0.29% (b) 49 49 
Fidelity Series Government Money Market Fund 0.4% (a)(c) 651,371 651,371 
Fidelity Series Short-Term Credit Fund (a) 64,855 640,769 
Fidelity Series Treasury Bill Index Fund (a) 217,771 2,186,416 
TOTAL SHORT-TERM FUNDS   
(Cost $3,476,867)  3,478,605 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $15,167,641)  14,838,293 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (272) 
NET ASSETS - 100%  $14,838,021 

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 $59,683 $550,141 $350,814 $33,827 $(10,457) $(14,428) $234,125 
Fidelity Series Canada Fund 6,903 144,657 14,806 1,218 106 (29,079) 107,781 
Fidelity Series Commodity Strategy Fund 48,785 833,166 239,368 7,054 (13,811) (125,366) 503,406 
Fidelity Series Corporate Bond Fund 148,104 1,444,749 496,242 38,639 (5,437) (12,844) 1,078,330 
Fidelity Series Emerging Markets Debt Fund 14,638 144,397 50,087 5,180 (1,354) (14,606) 92,988 
Fidelity Series Emerging Markets Fund 9,131 118,568 32,385 1,868 (2,841) (22,122) 70,351 
Fidelity Series Emerging Markets Opportunities Fund 82,753 1,074,271 320,957 18,724 (14,523) (120,663) 700,881 
Fidelity Series Floating Rate High Income Fund 3,100 29,158 8,919 1,135 (295) (2,933) 20,111 
Fidelity Series Government Bond Index Fund 203,437 2,037,675 721,714 34,098 3,341 143,737 1,666,476 
Fidelity Series Government Money Market Fund 0.4% 78,685 1,124,569 551,877 10,229 (6) -- 651,371 
Fidelity Series High Income Fund 22,938 146,519 52,040 6,404 (1,490) (13,999) 101,928 
Fidelity Series Inflation-Protected Bond Index Fund 239,920 2,187,129 831,497 22,467 (448) 39,471 1,634,575 
Fidelity Series International Growth Fund 56,952 554,474 283,176 13,347 (432) (14,850) 312,968 
Fidelity Series International Index Fund 15,023 171,302 60,198 2,371 (4,078) (20,463) 101,586 
Fidelity Series International Small Cap Fund 15,035 145,068 56,390 4,629 (3,167) (13,154) 87,392 
Fidelity Series International Value Fund 56,584 559,390 232,247 14,813 (14,294) (73,698) 295,735 
Fidelity Series Investment Grade Bond Fund 216,506 2,105,314 718,804 43,362 (2,792) 36,300 1,636,524 
Fidelity Series Investment Grade Securitized Fund 152,751 1,460,260 513,481 37,226 (140) 33,121 1,132,511 
Fidelity Series Large Cap Growth Index Fund 46,743 390,137 274,181 3,436 8,950 (1,856) 169,793 
Fidelity Series Large Cap Stock Fund 46,379 406,315 238,242 16,640 (7,047) (31,585) 175,820 
Fidelity Series Large Cap Value Index Fund 86,849 780,260 438,340 31,627 (19,832) (77,545) 331,392 
Fidelity Series Long-Term Treasury Bond Index Fund 101,171 697,091 519,326 37,830 26,501 63,152 368,589 
Fidelity Series Overseas Fund -- 352,830 11,104 775 (3,678) (42,448) 295,600 
Fidelity Series Real Estate Income Fund 9,842 91,662 28,636 3,790 (1,151) (16,244) 55,473 
Fidelity Series Short-Term Credit Fund 79,112 771,030 200,879 14,266 (181) (8,313) 640,769 
Fidelity Series Small Cap Opportunities Fund 23,168 193,301 104,247 8,060 (6,088) (21,282) 84,852 
Fidelity Series Treasury Bill Index Fund 234,552 2,678,242 736,100 30,491 228 9,494 2,186,416 
Fidelity Series Value Discovery Fund 27,479 235,068 135,025 7,303 (4,185) (22,836) 100,501 
 $2,086,223 $21,426,743 $8,221,082 $450,809 $(78,601) $(375,039) $14,838,244 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $49) $49  
Other affiliated issuers (cost $15,167,592) 14,838,244  
Total Investment in Securities (cost $15,167,641)  $14,838,293 
Cash  193 
Receivable for investments sold  3,587 
Receivable for fund shares sold  5,742 
Total assets  14,847,815 
Liabilities   
Payable for investments purchased $5,746  
Accrued management fee 3,749  
Distribution and service plan fees payable 299  
Total liabilities  9,794 
Net Assets  $14,838,021 
Net Assets consist of:   
Paid in capital  $15,182,643 
Total accumulated earnings (loss)  (344,622) 
Net Assets  $14,838,021 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($262,647 ÷ 26,667 shares)(a)  $9.85 
Maximum offering price per share (100/94.25 of $9.85)  $10.45 
Class M:   
Net Asset Value and redemption price per share ($107,953 ÷ 10,959 shares)(a)  $9.85 
Maximum offering price per share (100/96.50 of $9.85)  $10.21 
Class C:   
Net Asset Value and offering price per share ($255,809 ÷ 26,073 shares)(a)  $9.81 
Fidelity Freedom Blend 2005 Fund:   
Net Asset Value, offering price and redemption price per share ($1,126,208 ÷ 114,154 shares)  $9.87 
Class K:   
Net Asset Value, offering price and redemption price per share ($178,229 ÷ 18,047 shares)  $9.88 
Class K6:   
Net Asset Value, offering price and redemption price per share ($12,005,434 ÷ 1,215,565 shares)  $9.88 
Class I:   
Net Asset Value, offering price and redemption price per share ($691,409 ÷ 70,105 shares)  $9.86 
Class Z:   
Net Asset Value, offering price and redemption price per share ($102,873 ÷ 10,411 shares)  $9.88 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($107,459 ÷ 10,871 shares)  $9.88 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $304,102 
Expenses   
Management fee $38,772  
Distribution and service plan fees 2,458  
Independent trustees' fees and expenses 44  
Total expenses  41,274 
Net investment income (loss)  262,828 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers (78,556)  
Capital gain distributions from underlying funds:   
Affiliated issuers 146,707  
Total net realized gain (loss)  68,151 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (375,039)  
Total change in net unrealized appreciation (depreciation)  (375,039) 
Net gain (loss)  (306,888) 
Net increase (decrease) in net assets resulting from operations  $(44,060) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 For the period
August 31, 2018 (commencement of operations) to March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $262,828 $16,545 
Net realized gain (loss) 68,151 7,559 
Change in net unrealized appreciation (depreciation) (375,039) 45,691 
Net increase (decrease) in net assets resulting from operations (44,060) 69,795 
Distributions to shareholders (354,729) (15,628) 
Share transactions - net increase (decrease) 13,151,118 2,031,525 
Total increase (decrease) in net assets 12,752,329 2,085,692 
Net Assets   
Beginning of period 2,085,692 – 
End of period $14,838,021 $2,085,692 

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, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.99 $10.00 
Income from Investment Operations   
Net investment income (loss)B .16 .11 
Net realized and unrealized gain (loss) (.08) .04 
Total from investment operations .08 .15 
Distributions from net investment income (.13) (.10) 
Distributions from net realized gain (.09) (.07) 
Total distributions (.22) (.16)C 
Net asset value, end of period $9.85 $9.99 
Total ReturnD,E .68% 1.62% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .71% .71%H 
Expenses net of fee waivers, if any .71% .71%H 
Expenses net of all reductions .71% .71%H 
Net investment income (loss) 1.56% 1.88%H 
Supplemental Data   
Net assets, end of period (000 omitted) $263 $187 
Portfolio turnover rateG 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 of $.16 per share is comprised of distributions from net investment income of $.097 and distributions from net realized gain of $.066 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2005 Fund Class M

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.99 $10.00 
Income from Investment Operations   
Net investment income (loss)B .13 .09 
Net realized and unrealized gain (loss) (.07) .05 
Total from investment operations .06 .14 
Distributions from net investment income (.11) (.08) 
Distributions from net realized gain (.09) (.07) 
Total distributions (.20) (.15) 
Net asset value, end of period $9.85 $9.99 
Total ReturnC,D .45% 1.43% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .96% .96%G 
Expenses net of fee waivers, if any .96% .96%G 
Expenses net of all reductions .96% .96%G 
Net investment income (loss) 1.31% 1.63%G 
Supplemental Data   
Net assets, end of period (000 omitted) $108 $101 
Portfolio turnover rateF 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2005 Fund Class C

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.98 $10.00 
Income from Investment Operations   
Net investment income (loss)B .08 .06 
Net realized and unrealized gain (loss) (.08) .05 
Total from investment operations – .11 
Distributions from net investment income (.08) (.06) 
Distributions from net realized gain (.09) (.07) 
Total distributions (.17) (.13) 
Net asset value, end of period $9.81 $9.98 
Total ReturnC,D (.07)% 1.15% 
Ratios to Average Net AssetsE,F   
Expenses before reductions 1.46% 1.46%G 
Expenses net of fee waivers, if any 1.46% 1.46%G 
Expenses net of all reductions 1.46% 1.46%G 
Net investment income (loss) .81% 1.13%G 
Supplemental Data   
Net assets, end of period (000 omitted) $256 $101 
Portfolio turnover rateF 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2005 Fund

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.01 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .12 
Net realized and unrealized gain (loss) (.08) .05 
Total from investment operations .11 .17 
Distributions from net investment income (.15) (.10) 
Distributions from net realized gain (.10) (.07) 
Total distributions (.25) (.16)C 
Net asset value, end of period $9.87 $10.01 
Total ReturnD .94% 1.80% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .46% .46%G 
Expenses net of fee waivers, if any .46% .46%G 
Expenses net of all reductions .46% .46%G 
Net investment income (loss) 1.81% 2.13%G 
Supplemental Data   
Net assets, end of period (000 omitted) $1,126 $111 
Portfolio turnover rateF 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 of $.16 per share is comprised of distributions from net investment income of $.095 and distributions from net realized gain of $.066 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2005 Fund Class K

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.01 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .13 
Net realized and unrealized gain (loss) (.08) .04 
Total from investment operations .12 .17 
Distributions from net investment income (.16) (.10) 
Distributions from net realized gain (.09) (.07) 
Total distributions (.25) (.16)C 
Net asset value, end of period $9.88 $10.01 
Total ReturnD 1.06% 1.83% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .36% .36%G 
Expenses net of fee waivers, if any .36% .36%G 
Expenses net of all reductions .36% .36%G 
Net investment income (loss) 1.91% 2.23%G 
Supplemental Data   
Net assets, end of period (000 omitted) $178 $102 
Portfolio turnover rateF 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 of $.16 per share is comprised of distributions from net investment income of $.098 and distributions from net realized gain of $.066 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2005 Fund Class K6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.01 $10.00 
Income from Investment Operations   
Net investment income (loss)B .21 .13 
Net realized and unrealized gain (loss) (.08) .05 
Total from investment operations .13 .18 
Distributions from net investment income (.17) (.10) 
Distributions from net realized gain (.10) (.07) 
Total distributions (.26)C (.17) 
Net asset value, end of period $9.88 $10.01 
Total ReturnD 1.19% 1.86% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .26% .26%G 
Expenses net of fee waivers, if any .26% .26%G 
Expenses net of all reductions .26% .26%G 
Net investment income (loss) 2.01% 2.32%G 
Supplemental Data   
Net assets, end of period (000 omitted) $12,005 $1,177 
Portfolio turnover rateF 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 of $.26 per share is comprised of distributions from net investment income of $.167 and distributions from net realized gain of $.095 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2005 Fund Class I

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.01 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .12 
Net realized and unrealized gain (loss) (.09) .05 
Total from investment operations .10 .17 
Distributions from net investment income (.16) (.10) 
Distributions from net realized gain (.09) (.07) 
Total distributions (.25) (.16)C 
Net asset value, end of period $9.86 $10.01 
Total ReturnD .86% 1.80% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .46% .46%G 
Expenses net of fee waivers, if any .46% .46%G 
Expenses net of all reductions .46% .46%G 
Net investment income (loss) 1.81% 2.13%G 
Supplemental Data   
Net assets, end of period (000 omitted) $691 $102 
Portfolio turnover rateF 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 of $.16 per share is comprised of distributions from net investment income of $.095 and distributions from net realized gain of $.066 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2005 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.01 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .13 
Net realized and unrealized gain (loss) (.09) .04 
Total from investment operations .11 .17 
Distributions from net investment income (.15) (.10) 
Distributions from net realized gain (.09) (.07) 
Total distributions (.24) (.16)C 
Net asset value, end of period $9.88 $10.01 
Total ReturnD 1.01% 1.83% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .36% .36%G 
Expenses net of fee waivers, if any .36% .36%G 
Expenses net of all reductions .36% .36%G 
Net investment income (loss) 1.91% 2.23%G 
Supplemental Data   
Net assets, end of period (000 omitted) $103 $102 
Portfolio turnover rateF 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 of $.16 per share is comprised of distributions from net investment income of $.098 and distributions from net realized gain of $.066 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2005 Fund Class Z6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.01 $10.00 
Income from Investment Operations   
Net investment income (loss)B .21 .13 
Net realized and unrealized gain (loss) (.09) .05 
Total from investment operations .12 .18 
Distributions from net investment income (.16) (.10) 
Distributions from net realized gain (.10) (.07) 
Total distributions (.25)C (.17) 
Net asset value, end of period $9.88 $10.01 
Total ReturnD 1.11% 1.86% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .26% .26%G 
Expenses net of fee waivers, if any .26% .26%G 
Expenses net of all reductions .26% .26%G 
Net investment income (loss) 2.01% 2.33%G 
Supplemental Data   
Net assets, end of period (000 omitted) $107 $102 
Portfolio turnover rateF 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 of $.25 per share is comprised of distributions from net investment income of $.159 and distributions from net realized gain of $.095 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Treasury Bill Index Fund 12.3 
Fidelity Series Government Bond Index Fund 10.1 
Fidelity Series Investment Grade Bond Fund 9.9 
Fidelity Series Inflation-Protected Bond Index Fund 9.5 
Fidelity Series Investment Grade Securitized Fund 6.9 
Fidelity Series Corporate Bond Fund 6.6 
Fidelity Series Emerging Markets Opportunities Fund 5.6 
Fidelity Series Large Cap Value Index Fund 3.9 
Fidelity Series Short-Term Credit Fund 3.5 
Fidelity Series Government Money Market Fund 0.4% 3.5 
 71.8 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 16.4% 
   International Equity Funds 17.0% 
   Bond Funds 47.3% 
   Short-Term Funds 19.3% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 16.4%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 122,773 $1,583,767 
Fidelity Series Commodity Strategy Fund (a) 539,914 1,970,686 
Fidelity Series Large Cap Growth Index Fund (a) 116,599 1,170,649 
Fidelity Series Large Cap Stock Fund (a) 101,285 1,214,409 
Fidelity Series Large Cap Value Index Fund (a) 235,935 2,267,339 
Fidelity Series Small Cap Opportunities Fund (a) 58,767 596,490 
Fidelity Series Value Discovery Fund (a) 70,719 702,241 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $11,344,450)  9,505,581 
International Equity Funds - 17.0%   
Fidelity Series Canada Fund (a) 64,253 532,654 
Fidelity Series Emerging Markets Fund (a) 47,050 333,113 
Fidelity Series Emerging Markets Opportunities Fund (a) 210,571 3,278,590 
Fidelity Series International Growth Fund (a) 111,439 1,613,636 
Fidelity Series International Index Fund (a) 70,424 577,479 
Fidelity Series International Small Cap Fund (a) 35,541 475,189 
Fidelity Series International Value Fund (a) 215,514 1,538,771 
Fidelity Series Overseas Fund (a) 174,693 1,511,094 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $11,693,786)  9,860,526 
Bond Funds - 47.3%   
Fidelity Series Corporate Bond Fund (a) 374,329 3,803,180 
Fidelity Series Emerging Markets Debt Fund (a) 45,162 364,007 
Fidelity Series Floating Rate High Income Fund (a) 9,972 80,173 
Fidelity Series Government Bond Index Fund (a) 521,760 5,890,670 
Fidelity Series High Income Fund (a) 49,216 405,538 
Fidelity Series Inflation-Protected Bond Index Fund (a) 547,893 5,522,760 
Fidelity Series Investment Grade Bond Fund (a) 499,949 5,764,412 
Fidelity Series Investment Grade Securitized Fund (a) 379,838 4,003,490 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 134,655 1,439,458 
Fidelity Series Real Estate Income Fund (a) 26,078 219,579 
TOTAL BOND FUNDS   
(Cost $26,582,856)  27,493,267 
Short-Term Funds - 19.3%   
Fidelity Cash Central Fund 0.29% (b) 49 49 
Fidelity Series Government Money Market Fund 0.4% (a)(c) 2,009,286 2,009,286 
Fidelity Series Short-Term Credit Fund (a) 208,999 2,064,907 
Fidelity Series Treasury Bill Index Fund (a) 711,364 7,142,092 
TOTAL SHORT-TERM FUNDS   
(Cost $11,214,204)  11,216,334 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $60,835,296)  58,075,708 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (473) 
NET ASSETS - 100%  $58,075,235 

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 $110,318 $2,955,546 $1,310,536 $186,132 $(23,892) $(147,669) $1,583,767 
Fidelity Series Canada Fund 11,003 704,447 39,712 6,692 275 (143,359) 532,654 
Fidelity Series Commodity Strategy Fund 62,328 2,961,908 504,341 27,007 (41,921) (507,288) 1,970,686 
Fidelity Series Corporate Bond Fund 168,370 4,696,326 990,360 132,623 (18,915) (52,241) 3,803,180 
Fidelity Series Emerging Markets Debt Fund 18,543 518,248 109,380 19,754 (2,585) (60,819) 364,007 
Fidelity Series Emerging Markets Fund 14,121 508,058 71,704 8,968 (6,605) (110,757) 333,113 
Fidelity Series Emerging Markets Opportunities Fund 127,972 4,533,424 734,729 89,904 (30,303) (617,774) 3,278,590 
Fidelity Series Floating Rate High Income Fund 3,929 104,547 15,579 4,334 (547) (12,177) 80,173 
Fidelity Series Government Bond Index Fund 231,155 6,671,799 1,533,634 116,077 12,214 509,136 5,890,670 
Fidelity Series Government Money Market Fund 0.4% 79,094 3,348,968 1,418,776 30,895 -- -- 2,009,286 
Fidelity Series High Income Fund 28,548 525,346 87,139 24,361 (2,683) (58,534) 405,538 
Fidelity Series Inflation-Protected Bond Index Fund 248,837 6,756,565 1,605,486 77,027 (307) 123,151 5,522,760 
Fidelity Series International Growth Fund 92,485 2,544,393 919,430 71,613 1,853 (105,665) 1,613,636 
Fidelity Series International Index Fund 24,205 818,908 133,843 12,822 (10,525) (121,266) 577,479 
Fidelity Series International Small Cap Fund 24,137 691,711 149,633 25,167 (4,966) (86,060) 475,189 
Fidelity Series International Value Fund 91,246 2,574,265 648,898 79,472 (35,820) (442,022) 1,538,771 
Fidelity Series Investment Grade Bond Fund 246,122 6,868,723 1,464,902 149,241 (11,794) 126,263 5,764,412 
Fidelity Series Investment Grade Securitized Fund 173,652 4,787,709 1,075,266 127,289 (757) 118,152 4,003,490 
Fidelity Series Large Cap Growth Index Fund 86,369 2,136,163 1,060,496 20,961 27,912 (19,299) 1,170,649 
Fidelity Series Large Cap Stock Fund 85,985 2,241,339 850,121 96,598 (10,931) (251,863) 1,214,409 
Fidelity Series Large Cap Value Index Fund 161,014 4,295,479 1,525,172 195,849 (51,096) (612,886) 2,267,339 
Fidelity Series Long-Term Treasury Bond Index Fund 133,456 2,736,499 1,785,661 151,863 101,826 253,338 1,439,458 
Fidelity Series Overseas Fund -- 1,742,527 -- 4,045 -- (231,433) 1,511,094 
Fidelity Series Real Estate Income Fund 12,475 329,226 51,970 14,522 (2,446) (67,706) 219,579 
Fidelity Series Short-Term Credit Fund 79,524 2,291,290 277,959 43,331 107 (28,055) 2,064,907 
Fidelity Series Small Cap Opportunities Fund 42,953 1,100,019 367,647 43,628 (13,355) (165,480) 596,490 
Fidelity Series Treasury Bill Index Fund 235,082 7,953,833 1,076,568 92,489 152 29,593 7,142,092 
Fidelity Series Value Discovery Fund 50,945 1,316,319 479,644 45,369 (9,549) (175,830) 702,241 
 2,643,868 78,713,585 20,288,586 1,898,033 (134,658) (2,858,550) 58,075,659 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $49) $49  
Other affiliated issuers (cost $60,835,247) 58,075,659  
Total Investment in Securities (cost $60,835,296)  $58,075,708 
Cash  298 
Receivable for investments sold  81,661 
Receivable for fund shares sold  20,710 
Total assets  58,178,377 
Liabilities   
Payable for investments purchased $1,746  
Payable for fund shares redeemed 86,646  
Accrued management fee 14,494  
Distribution and service plan fees payable 256  
Total liabilities  103,142 
Net Assets  $58,075,235 
Net Assets consist of:   
Paid in capital  $60,681,162 
Total accumulated earnings (loss)  (2,605,927) 
Net Assets  $58,075,235 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($189,807 ÷ 19,672 shares)(a)  $9.65 
Maximum offering price per share (100/94.25 of $9.65)  $10.24 
Class M:   
Net Asset Value and redemption price per share ($258,720 ÷ 26,855 shares)(a)  $9.63 
Maximum offering price per share (100/96.50 of $9.63)  $9.98 
Class C:   
Net Asset Value and offering price per share ($117,370 ÷ 12,214 shares)(a)  $9.61 
Fidelity Freedom Blend 2010 Fund:   
Net Asset Value, offering price and redemption price per share ($2,197,272 ÷ 227,712 shares)  $9.65 
Class K:   
Net Asset Value, offering price and redemption price per share ($6,317,068 ÷ 653,907 shares)  $9.66 
Class K6:   
Net Asset Value, offering price and redemption price per share ($48,154,767 ÷ 4,977,419 shares)  $9.67 
Class I:   
Net Asset Value, offering price and redemption price per share ($452,620 ÷ 46,863 shares)  $9.66 
Class Z:   
Net Asset Value, offering price and redemption price per share ($100,957 ÷ 10,431 shares)  $9.68 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($286,654 ÷ 29,604 shares)  $9.68 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $1,189,215 
Expenses   
Management fee $145,202  
Distribution and service plan fees 2,615  
Independent trustees' fees and expenses 166  
Total expenses  147,983 
Net investment income (loss)  1,041,232 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers (134,507)  
Capital gain distributions from underlying funds:   
Affiliated issuers 708,818  
Total net realized gain (loss)  574,311 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (2,858,550)  
Total change in net unrealized appreciation (depreciation)  (2,858,550) 
Net gain (loss)  (2,284,239) 
Net increase (decrease) in net assets resulting from operations  $(1,243,007) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 For the period
August 31, 2018 (commencement of operations) to March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $1,041,232 $18,516 
Net realized gain (loss) 574,311 (17,746) 
Change in net unrealized appreciation (depreciation) (2,858,550) 98,962 
Net increase (decrease) in net assets resulting from operations (1,243,007) 99,732 
Distributions to shareholders (1,444,075) (18,577) 
Share transactions - net increase (decrease) 58,119,134 2,562,028 
Total increase (decrease) in net assets 55,432,052 2,643,183 
Net Assets   
Beginning of period 2,643,183 – 
End of period $58,075,235 $2,643,183 

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, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.93 $10.00 
Income from Investment Operations   
Net investment income (loss)B .16 .10 
Net realized and unrealized gain (loss) (.22) .01 
Total from investment operations (.06) .11 
Distributions from net investment income (.12) (.11) 
Distributions from net realized gain (.09) (.08) 
Total distributions (.22)C (.18)D 
Net asset value, end of period $9.65 $9.93 
Total ReturnE,F (.82)% 1.24% 
Ratios to Average Net AssetsG,H   
Expenses before reductions .72% .72%I 
Expenses net of fee waivers, if any .72% .72%I 
Expenses net of all reductions .72% .72%I 
Net investment income (loss) 1.60% 1.81%I 
Supplemental Data   
Net assets, end of period (000 omitted) $190 $166 
Portfolio turnover rateH 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 of $.22 per share is comprised of distributions from net investment income of $.122 and distributions from net realized gain of $.093 per share.

 D Total distributions of $.18 per share is comprised of distributions from net investment income of $.106 and distributions from net realized gain of $.076 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2010 Fund Class M

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.92 $10.00 
Income from Investment Operations   
Net investment income (loss)B .14 .09 
Net realized and unrealized gain (loss) (.23) C 
Total from investment operations (.09) .09 
Distributions from net investment income (.11) (.10) 
Distributions from net realized gain (.09) (.08) 
Total distributions (.20) (.17)D 
Net asset value, end of period $9.63 $9.92 
Total ReturnE,F (1.07)% 1.03% 
Ratios to Average Net AssetsG,H   
Expenses before reductions .97% .97%I 
Expenses net of fee waivers, if any .97% .97%I 
Expenses net of all reductions .97% .97%I 
Net investment income (loss) 1.35% 1.56%I 
Supplemental Data   
Net assets, end of period (000 omitted) $259 $126 
Portfolio turnover rateH 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 of $.17 per share is comprised of distributions from net investment income of $.096 and distributions from net realized gain of $.076 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2010 Fund Class C

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.92 $10.00 
Income from Investment Operations   
Net investment income (loss)B .09 .06 
Net realized and unrealized gain (loss) (.23) .01 
Total from investment operations (.14) .07 
Distributions from net investment income (.07) (.08) 
Distributions from net realized gain (.09) (.08) 
Total distributions (.17)C (.15)D 
Net asset value, end of period $9.61 $9.92 
Total ReturnE,F (1.57)% .81% 
Ratios to Average Net AssetsG,H   
Expenses before reductions 1.47% 1.47%I 
Expenses net of fee waivers, if any 1.47% 1.47%I 
Expenses net of all reductions 1.47% 1.47%I 
Net investment income (loss) .85% 1.06%I 
Supplemental Data   
Net assets, end of period (000 omitted) $117 $101 
Portfolio turnover rateH 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 of $.17 per share is comprised of distributions from net investment income of $.074 and distributions from net realized gain of $.093 per share.

 D Total distributions of $.15 per share is comprised of distributions from net investment income of $.075 and distributions from net realized gain of $.076 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2010 Fund

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.94 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .12 
Net realized and unrealized gain (loss) (.23) .01 
Total from investment operations (.04) .13 
Distributions from net investment income (.16) (.11) 
Distributions from net realized gain (.10) (.08) 
Total distributions (.25)C (.19) 
Net asset value, end of period $9.65 $9.94 
Total ReturnD (.56)% 1.37% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .47% .47%G 
Expenses net of fee waivers, if any .47% .47%G 
Expenses net of all reductions .47% .47%G 
Net investment income (loss) 1.85% 2.06%G 
Supplemental Data   
Net assets, end of period (000 omitted) $2,197 $148 
Portfolio turnover rateF 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 of $.25 per share is comprised of distributions from net investment income of $.156 and distributions from net realized gain of $.097 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2010 Fund Class K

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.94 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .12 
Net realized and unrealized gain (loss) (.22) .01 
Total from investment operations (.02) .13 
Distributions from net investment income (.16) (.11) 
Distributions from net realized gain (.09) (.08) 
Total distributions (.26)C (.19) 
Net asset value, end of period $9.66 $9.94 
Total ReturnD (.43)% 1.38% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .37% .37%G 
Expenses net of fee waivers, if any .37% .37%G 
Expenses net of all reductions .37% .37%G 
Net investment income (loss) 1.95% 2.16%G 
Supplemental Data   
Net assets, end of period (000 omitted) $6,317 $101 
Portfolio turnover rateF 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 of $.26 per share is comprised of distributions from net investment income of $.164 and distributions from net realized gain of $.093 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2010 Fund Class K6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.95 $10.00 
Income from Investment Operations   
Net investment income (loss)B .21 .13 
Net realized and unrealized gain (loss) (.23) .01 
Total from investment operations (.02) .14 
Distributions from net investment income (.16) (.11) 
Distributions from net realized gain (.10) (.08) 
Total distributions (.26) (.19) 
Net asset value, end of period $9.67 $9.95 
Total ReturnC (.44)% 1.52% 
Ratios to Average Net AssetsD,E   
Expenses before reductions .27% .28%F,G 
Expenses net of fee waivers, if any .27% .28%F,G 
Expenses net of all reductions .27% .28%F,G 
Net investment income (loss) 2.05% 2.26%F 
Supplemental Data   
Net assets, end of period (000 omitted) $48,155 $1,697 
Portfolio turnover rateE 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Annualized

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2010 Fund Class I

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.94 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .12 
Net realized and unrealized gain (loss) (.22) C 
Total from investment operations (.03) .12 
Distributions from net investment income (.15) (.11) 
Distributions from net realized gain (.09) (.08) 
Total distributions (.25)D (.18)E 
Net asset value, end of period $9.66 $9.94 
Total ReturnF (.53)% 1.35% 
Ratios to Average Net AssetsG,H   
Expenses before reductions .47% .47%I 
Expenses net of fee waivers, if any .47% .47%I 
Expenses net of all reductions .47% .47%I 
Net investment income (loss) 1.85% 2.06%I 
Supplemental Data   
Net assets, end of period (000 omitted) $453 $101 
Portfolio turnover rateH 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 of $.25 per share is comprised of distributions from net investment income of $.153 and distributions from net realized gain of $.093 per share.

 E Total distributions of $.18 per share is comprised of distributions from net investment income of $.107 and distributions from net realized gain of $.076 per share.

 F Total returns for periods of less than one year are not annualized.

 G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2010 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.94 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .12 
Net realized and unrealized gain (loss) (.22) .01 
Total from investment operations (.02) .13 
Distributions from net investment income (.15) (.11) 
Distributions from net realized gain (.09) (.08) 
Total distributions (.24) (.19) 
Net asset value, end of period $9.68 $9.94 
Total ReturnC (.40)% 1.38% 
Ratios to Average Net AssetsD,E   
Expenses before reductions .37% .37%F 
Expenses net of fee waivers, if any .37% .37%F 
Expenses net of all reductions .37% .37%F 
Net investment income (loss) 1.95% 2.16%F 
Supplemental Data   
Net assets, end of period (000 omitted) $101 $101 
Portfolio turnover rateE 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2010 Fund Class Z6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.95 $10.00 
Income from Investment Operations   
Net investment income (loss)B .21 .13 
Net realized and unrealized gain (loss) (.23) .01 
Total from investment operations (.02) .14 
Distributions from net investment income (.15) (.11) 
Distributions from net realized gain (.09) (.08) 
Total distributions (.25)C (.19) 
Net asset value, end of period $9.68 $9.95 
Total ReturnD (.43)% 1.52% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .27% .27%G 
Expenses net of fee waivers, if any .27% .27%G 
Expenses net of all reductions .27% .27%G 
Net investment income (loss) 2.05% 2.26%G 
Supplemental Data   
Net assets, end of period (000 omitted) $287 $101 
Portfolio turnover rateF 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 of $.25 per share is comprised of distributions from net investment income of $.153 and distributions from net realized gain of $.093 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Treasury Bill Index Fund 9.8 
Fidelity Series Government Bond Index Fund 9.0 
Fidelity Series Investment Grade Bond Fund 8.8 
Fidelity Series Inflation-Protected Bond Index Fund 8.3 
Fidelity Series Emerging Markets Opportunities Fund 6.5 
Fidelity Series Investment Grade Securitized Fund 6.1 
Fidelity Series Corporate Bond Fund 5.8 
Fidelity Series Large Cap Value Index Fund 5.5 
Fidelity Series Blue Chip Growth Fund 3.9 
Fidelity Series International Growth Fund 3.4 
 67.1 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 21.9% 
   International Equity Funds 20.6% 
   Bond Funds 42.3% 
   Short-Term Funds 15.2% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 21.9%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 547,988 $7,069,051 
Fidelity Series Commodity Strategy Fund (a) 1,695,520 6,188,649 
Fidelity Series Large Cap Growth Index Fund (a) 523,518 5,256,125 
Fidelity Series Large Cap Stock Fund (a) 454,998 5,455,426 
Fidelity Series Large Cap Value Index Fund (a) 1,056,695 10,154,836 
Fidelity Series Small Cap Opportunities Fund (a) 265,704 2,696,895 
Fidelity Series Value Discovery Fund (a) 318,996 3,167,627 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $47,833,539)  39,988,609 
International Equity Funds - 20.6%   
Fidelity Series Canada Fund (a) 253,887 2,104,725 
Fidelity Series Emerging Markets Fund (a) 175,392 1,241,776 
Fidelity Series Emerging Markets Opportunities Fund (a) 766,109 11,928,317 
Fidelity Series International Growth Fund (a) 434,462 6,291,017 
Fidelity Series International Index Fund (a) 278,794 2,286,110 
Fidelity Series International Small Cap Fund (a) 138,590 1,852,946 
Fidelity Series International Value Fund (a) 840,401 6,000,464 
Fidelity Series Overseas Fund (a) 683,487 5,912,166 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $44,626,433)  37,617,521 
Bond Funds - 42.3%   
Fidelity Series Corporate Bond Fund (a) 1,042,287 10,589,640 
Fidelity Series Emerging Markets Debt Fund (a) 141,837 1,143,208 
Fidelity Series Floating Rate High Income Fund (a) 31,733 255,132 
Fidelity Series Government Bond Index Fund (a) 1,451,830 16,391,161 
Fidelity Series High Income Fund (a) 156,900 1,292,857 
Fidelity Series Inflation-Protected Bond Index Fund (a) 1,497,228 15,092,061 
Fidelity Series Investment Grade Bond Fund (a) 1,385,490 15,974,695 
Fidelity Series Investment Grade Securitized Fund (a) 1,057,419 11,145,200 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 425,194 4,545,328 
Fidelity Series Real Estate Income Fund (a) 83,519 703,230 
TOTAL BOND FUNDS   
(Cost $74,331,828)  77,132,512 
Short-Term Funds - 15.2%   
Fidelity Cash Central Fund 0.29% (b) 49 49 
Fidelity Series Government Money Market Fund 0.4% (a)(c) 5,029,221 5,029,221 
Fidelity Series Short-Term Credit Fund (a) 486,340 4,805,041 
Fidelity Series Treasury Bill Index Fund (a) 1,772,656 17,797,466 
TOTAL SHORT-TERM FUNDS   
(Cost $27,613,693)  27,631,777 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $194,405,493)  182,370,419 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (1,903) 
NET ASSETS - 100%  $182,368,516 

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 $520,264 $12,311,810 $4,905,678 $902,665 $(56,673) $(800,672) $7,069,051 
Fidelity Series Canada Fund 47,956 2,750,646 172,181 26,779 474 (522,170) 2,104,725 
Fidelity Series Commodity Strategy Fund 224,343 9,209,105 1,476,675 93,630 (109,487) (1,658,637) 6,188,649 
Fidelity Series Corporate Bond Fund 529,736 13,071,359 2,902,009 395,272 (29,761) (79,685) 10,589,640 
Fidelity Series Emerging Markets Debt Fund 66,460 1,587,941 307,302 67,119 (3,904) (199,987) 1,143,208 
Fidelity Series Emerging Markets Fund 57,738 1,833,487 216,720 33,165 (10,119) (422,610) 1,241,776 
Fidelity Series Emerging Markets Opportunities Fund 523,357 15,883,942 2,126,243 332,486 (45,261) (2,307,478) 11,928,317 
Fidelity Series Floating Rate High Income Fund 14,094 326,608 46,012 14,617 (775) (38,783) 255,132 
Fidelity Series Government Bond Index Fund 726,831 18,610,887 4,484,306 346,877 51,311 1,486,438 16,391,161 
Fidelity Series Government Money Market Fund 0.4% 218,048 8,531,839 3,720,666 79,848 -- -- 5,029,221 
Fidelity Series High Income Fund 103,077 1,642,258 263,648 82,300 (3,753) (185,077) 1,292,857 
Fidelity Series Inflation-Protected Bond Index Fund 698,054 17,946,681 3,916,228 215,227 5,644 357,910 15,092,061 
Fidelity Series International Growth Fund 404,676 9,649,290 3,427,538 285,579 27,022 (362,433) 6,291,017 
Fidelity Series International Index Fund 106,013 3,107,317 422,462 51,316 (16,173) (488,585) 2,286,110 
Fidelity Series International Small Cap Fund 105,521 2,677,721 573,984 100,415 (16,135) (340,177) 1,852,946 
Fidelity Series International Value Fund 397,626 9,813,861 2,362,589 316,912 (67,244) (1,781,190) 6,000,464 
Fidelity Series Investment Grade Bond Fund 774,219 19,107,376 4,313,622 445,346 (9,199) 415,921 15,974,695 
Fidelity Series Investment Grade Securitized Fund 546,344 13,386,392 3,143,764 378,664 2,905 353,323 11,145,200 
Fidelity Series Large Cap Growth Index Fund 407,232 8,913,009 4,120,105 91,086 132,795 (76,806) 5,256,125 
Fidelity Series Large Cap Stock Fund 406,025 9,377,238 3,150,167 446,906 (19,151) (1,158,519) 5,455,426 
Fidelity Series Large Cap Value Index Fund 760,313 17,892,855 5,617,489 846,283 (81,043) (2,799,800) 10,154,836 
Fidelity Series Long-Term Treasury Bond Index Fund 486,619 9,476,581 6,687,653 502,401 466,579 803,202 4,545,328 
Fidelity Series Overseas Fund -- 6,809,384 -- 16,095 -- (897,218) 5,912,166 
Fidelity Series Real Estate Income Fund 44,713 1,028,022 152,856 49,665 (3,382) (213,267) 703,230 
Fidelity Series Short-Term Credit Fund 219,186 5,488,287 845,840 109,871 686 (57,278) 4,805,041 
Fidelity Series Small Cap Opportunities Fund 202,824 4,665,844 1,366,659 212,704 (30,571) (774,543) 2,696,895 
Fidelity Series Treasury Bill Index Fund 646,150 19,827,498 2,750,078 237,652 233 73,663 17,797,466 
Fidelity Series Value Discovery Fund 240,563 5,527,920 1,795,970 196,771 (18,858) (786,028) 3,167,627 
 $9,477,982 $250,455,158 $65,268,444 $6,877,651 $166,160 $(12,460,486) $182,370,370 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $49) $49  
Other affiliated issuers (cost $194,405,444) 182,370,370  
Total Investment in Securities (cost $194,405,493)  $182,370,419 
Cash  623 
Receivable for investments sold  44,667 
Receivable for fund shares sold  116,451 
Total assets  182,532,160 
Liabilities   
Payable for investments purchased $21  
Payable for fund shares redeemed 117,233  
Accrued management fee 45,948  
Distribution and service plan fees payable 442  
Total liabilities  163,644 
Net Assets  $182,368,516 
Net Assets consist of:   
Paid in capital  $193,208,334 
Total accumulated earnings (loss)  (10,839,818) 
Net Assets  $182,368,516 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($345,783 ÷ 36,653 shares)(a)  $9.43 
Maximum offering price per share (100/94.25 of $9.43)  $10.01 
Class M:   
Net Asset Value and redemption price per share ($106,669 ÷ 11,305 shares)(a)  $9.44 
Maximum offering price per share (100/96.50 of $9.44)  $9.78 
Class C:   
Net Asset Value and offering price per share ($467,384 ÷ 49,800 shares)(a)  $9.39 
Fidelity Freedom Blend 2015 Fund:   
Net Asset Value, offering price and redemption price per share ($8,439,979 ÷ 894,312 shares)  $9.44 
Class K:   
Net Asset Value, offering price and redemption price per share ($6,146,729 ÷ 650,332 shares)  $9.45 
Class K6:   
Net Asset Value, offering price and redemption price per share ($162,503,974 ÷ 17,166,741 shares)  $9.47 
Class I:   
Net Asset Value, offering price and redemption price per share ($3,591,694 ÷ 380,641 shares)  $9.44 
Class Z:   
Net Asset Value, offering price and redemption price per share ($99,043 ÷ 10,461 shares)  $9.47 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($667,261 ÷ 70,502 shares)  $9.46 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $4,002,025 
Expenses   
Management fee $498,787  
Distribution and service plan fees 3,301  
Independent trustees' fees and expenses 572  
Total expenses  502,660 
Net investment income (loss)  3,499,365 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 166,634  
Capital gain distributions from underlying funds:   
Affiliated issuers 2,875,626  
Total net realized gain (loss)  3,042,260 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (12,460,486)  
Total change in net unrealized appreciation (depreciation)  (12,460,486) 
Net gain (loss)  (9,418,226) 
Net increase (decrease) in net assets resulting from operations  $(5,918,861) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 For the period
August 31, 2018 (commencement of operations) to March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $3,499,365 $36,560 
Net realized gain (loss) 3,042,260 (5,740) 
Change in net unrealized appreciation (depreciation) (12,460,486) 425,412 
Net increase (decrease) in net assets resulting from operations (5,918,861) 456,232 
Distributions to shareholders (5,354,235) (22,954) 
Share transactions - net increase (decrease) 184,166,038 9,042,296 
Total increase (decrease) in net assets 172,892,942 9,475,574 
Net Assets   
Beginning of period 9,475,574 – 
End of period $182,368,516 $9,475,574 

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, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.91 $10.00 
Income from Investment Operations   
Net investment income (loss)B .16 .07 
Net realized and unrealized gain (loss) (.37) C 
Total from investment operations (.21) .07 
Distributions from net investment income (.15) (.09) 
Distributions from net realized gain (.12) (.07) 
Total distributions (.27) (.16) 
Net asset value, end of period $9.43 $9.91 
Total ReturnD,E (2.38)% .85% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .73% .74%H 
Expenses net of fee waivers, if any .73% .74%H 
Expenses net of all reductions .73% .74%H 
Net investment income (loss) 1.58% 1.24%H 
Supplemental Data   
Net assets, end of period (000 omitted) $346 $195 
Portfolio turnover rateG 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2015 Fund Class M

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.90 $10.00 
Income from Investment Operations   
Net investment income (loss)B .14 .06 
Net realized and unrealized gain (loss) (.36) C 
Total from investment operations (.22) .06 
Distributions from net investment income (.12) (.09) 
Distributions from net realized gain (.12) (.07) 
Total distributions (.24) (.16) 
Net asset value, end of period $9.44 $9.90 
Total ReturnD,E (2.50)% .67% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .98% .99%H 
Expenses net of fee waivers, if any .98% .99%H 
Expenses net of all reductions .98% .99%H 
Net investment income (loss) 1.33% .99%H 
Supplemental Data   
Net assets, end of period (000 omitted) $107 $101 
Portfolio turnover rateG 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2015 Fund Class C

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.87 $10.00 
Income from Investment Operations   
Net investment income (loss)B .08 .03 
Net realized and unrealized gain (loss) (.36) C 
Total from investment operations (.28) .03 
Distributions from net investment income (.08) (.09) 
Distributions from net realized gain (.12) (.07) 
Total distributions (.20) (.16) 
Net asset value, end of period $9.39 $9.87 
Total ReturnD,E (3.04)% .43% 
Ratios to Average Net AssetsF,G   
Expenses before reductions 1.48% 1.50%H,I 
Expenses net of fee waivers, if any 1.48% 1.50%H,I 
Expenses net of all reductions 1.48% 1.50%H,I 
Net investment income (loss) .83% .48%H 
Supplemental Data   
Net assets, end of period (000 omitted) $467 $144 
Portfolio turnover rateG 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 contingent deferred sales charge.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2015 Fund

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.91 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .08 
Net realized and unrealized gain (loss) (.37) .01 
Total from investment operations (.18) .09 
Distributions from net investment income (.17) (.11) 
Distributions from net realized gain (.12) (.07) 
Total distributions (.29) (.18) 
Net asset value, end of period $9.44 $9.91 
Total ReturnC (2.09)% 1.02% 
Ratios to Average Net AssetsD,E   
Expenses before reductions .49%F .49%G 
Expenses net of fee waivers, if any .49%F .49%G 
Expenses net of all reductions .49%F .49%G 
Net investment income (loss) 1.83% 1.49%G 
Supplemental Data   
Net assets, end of period (000 omitted) $8,440 $468 
Portfolio turnover rateE 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 Total returns for periods of less than one year are not annualized.

 D Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2015 Fund Class K

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.92 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .09 
Net realized and unrealized gain (loss) (.37) C 
Total from investment operations (.17) .09 
Distributions from net investment income (.18) (.11) 
Distributions from net realized gain (.12) (.07) 
Total distributions (.30) (.17)D 
Net asset value, end of period $9.45 $9.92 
Total ReturnE (2.03)% 1.07% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .38% .39%H 
Expenses net of fee waivers, if any .38% .39%H 
Expenses net of all reductions .38% .39%H 
Net investment income (loss) 1.93% 1.59%H 
Supplemental Data   
Net assets, end of period (000 omitted) $6,147 $101 
Portfolio turnover rateG 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 of $.17 per share is comprised of distributions from net investment income of $.105 and distributions from net realized gain of $.069 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2015 Fund Class K6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.92 $10.00 
Income from Investment Operations   
Net investment income (loss)B .21 .09 
Net realized and unrealized gain (loss) (.37) .01 
Total from investment operations (.16) .10 
Distributions from net investment income (.17) (.11) 
Distributions from net realized gain (.12) (.07) 
Total distributions (.29) (.18) 
Net asset value, end of period $9.47 $9.92 
Total ReturnC (1.86)% 1.12% 
Ratios to Average Net AssetsD,E   
Expenses before reductions .28% .30%F,G 
Expenses net of fee waivers, if any .28% .30%F,G 
Expenses net of all reductions .28% .30%F,G 
Net investment income (loss) 2.03% 1.68%F 
Supplemental Data   
Net assets, end of period (000 omitted) $162,504 $8,164 
Portfolio turnover rateE 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Annualized

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2015 Fund Class I

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.92 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .08 
Net realized and unrealized gain (loss) (.37) .01 
Total from investment operations (.18) .09 
Distributions from net investment income (.18) (.10) 
Distributions from net realized gain (.12) (.07) 
Total distributions (.30) (.17) 
Net asset value, end of period $9.44 $9.92 
Total ReturnC (2.09)% 1.04% 
Ratios to Average Net AssetsD,E   
Expenses before reductions .48% .49%F 
Expenses net of fee waivers, if any .48% .49%F 
Expenses net of all reductions .48% .49%F 
Net investment income (loss) 1.83% 1.49%F 
Supplemental Data   
Net assets, end of period (000 omitted) $3,592 $101 
Portfolio turnover rateE 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2015 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.92 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .09 
Net realized and unrealized gain (loss) (.37) C 
Total from investment operations (.17) .09 
Distributions from net investment income (.16) (.11) 
Distributions from net realized gain (.12) (.07) 
Total distributions (.28) (.17)D 
Net asset value, end of period $9.47 $9.92 
Total ReturnE (1.99)% 1.07% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .38% .39%H 
Expenses net of fee waivers, if any .38% .39%H 
Expenses net of all reductions .38% .39%H 
Net investment income (loss) 1.93% 1.59%H 
Supplemental Data   
Net assets, end of period (000 omitted) $99 $101 
Portfolio turnover rateG 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 of $.17 per share is comprised of distributions from net investment income of $.105 and distributions from net realized gain of $.069 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2015 Fund Class Z6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.92 $10.00 
Income from Investment Operations   
Net investment income (loss)B .21 .10 
Net realized and unrealized gain (loss) (.37) C 
Total from investment operations (.16) .10 
Distributions from net investment income (.18) (.11) 
Distributions from net realized gain (.12) (.07) 
Total distributions (.30) (.18) 
Net asset value, end of period $9.46 $9.92 
Total ReturnD (1.95)% 1.12% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .28% .29%G 
Expenses net of fee waivers, if any .28% .29%G 
Expenses net of all reductions .28% .29%G 
Net investment income (loss) 2.03% 1.69%G 
Supplemental Data   
Net assets, end of period (000 omitted) $667 $101 
Portfolio turnover rateF 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Government Bond Index Fund 7.9 
Fidelity Series Investment Grade Bond Fund 7.7 
Fidelity Series Treasury Bill Index Fund 7.5 
Fidelity Series Emerging Markets Opportunities Fund 7.3 
Fidelity Series Large Cap Value Index Fund 7.1 
Fidelity Series Inflation-Protected Bond Index Fund 7.1 
Fidelity Series Investment Grade Securitized Fund 5.4 
Fidelity Series Corporate Bond Fund 5.1 
Fidelity Series Blue Chip Growth Fund 4.9 
Fidelity Series International Growth Fund 4.0 
 64.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 27.0% 
   International Equity Funds 23.9% 
   Bond Funds 37.6% 
   Short-Term Funds 11.5% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 27.0%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 2,016,488 $26,012,694 
Fidelity Series Commodity Strategy Fund (a) 4,914,721 17,938,733 
Fidelity Series Large Cap Growth Index Fund (a) 1,931,150 19,388,748 
Fidelity Series Large Cap Stock Fund (a) 1,678,806 20,128,885 
Fidelity Series Large Cap Value Index Fund (a) 3,894,022 37,421,552 
Fidelity Series Small Cap Opportunities Fund (a) 983,078 9,978,241 
Fidelity Series Value Discovery Fund (a) 1,179,112 11,708,583 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $170,719,545)  142,577,436 
International Equity Funds - 23.9%   
Fidelity Series Canada Fund (a) 874,322 7,248,132 
Fidelity Series Emerging Markets Fund (a) 577,177 4,086,412 
Fidelity Series Emerging Markets Opportunities Fund (a) 2,493,107 38,817,674 
Fidelity Series International Growth Fund (a) 1,478,436 21,407,755 
Fidelity Series International Index Fund (a) 957,356 7,850,319 
Fidelity Series International Small Cap Fund (a) 471,865 6,308,839 
Fidelity Series International Value Fund (a) 2,869,731 20,489,878 
Fidelity Series Overseas Fund (a) 2,339,769 20,238,998 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $150,210,568)  126,448,007 
Bond Funds - 37.6%   
Fidelity Series Corporate Bond Fund (a) 2,666,793 27,094,612 
Fidelity Series Emerging Markets Debt Fund (a) 411,205 3,314,311 
Fidelity Series Floating Rate High Income Fund (a) 93,083 748,391 
Fidelity Series Government Bond Index Fund (a) 3,713,228 41,922,340 
Fidelity Series High Income Fund (a) 460,826 3,797,208 
Fidelity Series Inflation-Protected Bond Index Fund (a) 3,706,912 37,365,671 
Fidelity Series Investment Grade Bond Fund (a) 3,526,578 40,661,440 
Fidelity Series Investment Grade Securitized Fund (a) 2,705,783 28,518,951 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 1,237,541 13,229,317 
Fidelity Series Real Estate Income Fund (a) 245,191 2,064,509 
TOTAL BOND FUNDS   
(Cost $191,497,550)  198,716,750 
Short-Term Funds - 11.5%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 11,006,228 11,006,228 
Fidelity Series Short-Term Credit Fund (a) 1,021,188 10,089,337 
Fidelity Series Treasury Bill Index Fund (a) 3,964,560 39,804,187 
TOTAL SHORT-TERM FUNDS   
(Cost $60,856,506)  60,899,752 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $573,284,169)  528,641,945 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (5,743) 
NET ASSETS - 100%  $528,636,202 

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 $1,592,321 $42,958,661 $15,288,973 $3,247,482 $(164,097) $(3,085,218) $26,012,694 
Fidelity Series Canada Fund 140,253 9,273,075 383,687 92,379 902 (1,782,411) 7,248,132 
Fidelity Series Commodity Strategy Fund 571,268 26,696,943 4,060,910 278,598 (379,260) (4,889,308) 17,938,733 
Fidelity Series Corporate Bond Fund 1,182,202 33,872,131 7,684,119 1,034,114 (110,494) (165,108) 27,094,612 
Fidelity Series Emerging Markets Debt Fund 168,522 4,541,163 781,146 199,628 (14,346) (599,882) 3,314,311 
Fidelity Series Emerging Markets Fund 161,941 6,030,818 661,669 108,635 (36,234) (1,408,444) 4,086,412 
Fidelity Series Emerging Markets Opportunities Fund 1,467,329 51,166,116 5,912,503 1,089,162 (257,747) (7,645,521) 38,817,674 
Fidelity Series Floating Rate High Income Fund 36,143 950,719 121,418 43,285 (2,901) (114,152) 748,391 
Fidelity Series Government Bond Index Fund 1,629,215 48,174,873 11,909,742 906,460 173,941 3,854,053 41,922,340 
Fidelity Series Government Money Market Fund 0.4% 420,634 20,819,106 10,233,512 173,438 -- -- 11,006,228 
Fidelity Series High Income Fund 268,041 4,774,563 684,696 244,008 (15,227) (545,473) 3,797,208 
Fidelity Series Inflation-Protected Bond Index Fund 1,308,189 44,899,469 9,657,890 532,769 8,099 807,804 37,365,671 
Fidelity Series International Growth Fund 1,183,883 32,614,415 11,203,363 983,738 31,204 (1,218,384) 21,407,755 
Fidelity Series International Index Fund 309,955 10,624,811 1,314,204 176,974 (80,363) (1,689,880) 7,850,319 
Fidelity Series International Small Cap Fund 308,451 9,285,621 1,998,726 345,828 (121,418) (1,165,089) 6,308,839 
Fidelity Series International Value Fund 1,162,276 33,156,576 7,380,049 1,091,711 (390,121) (6,058,804) 20,489,878 
Fidelity Series Investment Grade Bond Fund 1,727,776 49,632,271 11,765,806 1,166,905 (39,624) 1,106,823 40,661,440 
Fidelity Series Investment Grade Securitized Fund 1,219,272 34,594,882 8,231,499 987,977 12,318 923,978 28,518,951 
Fidelity Series Large Cap Growth Index Fund 1,246,354 31,315,623 13,271,697 327,863 384,653 (286,185) 19,388,748 
Fidelity Series Large Cap Stock Fund 1,238,767 33,021,297 9,714,477 1,621,629 (47,004) (4,369,698) 20,128,885 
Fidelity Series Large Cap Value Index Fund 2,321,999 63,009,005 17,183,094 3,050,784 (287,692) (10,438,666) 37,421,552 
Fidelity Series Long-Term Treasury Bond Index Fund 1,262,323 29,317,917 21,200,305 1,490,164 1,510,030 2,339,352 13,229,317 
Fidelity Series Overseas Fund -- 23,414,977 -- 55,399 -- (3,175,979) 20,238,998 
Fidelity Series Real Estate Income Fund 113,494 2,996,159 406,364 146,430 (12,748) (626,032) 2,064,509 
Fidelity Series Short-Term Credit Fund 422,871 12,087,002 2,307,378 235,775 4,019 (117,177) 10,089,337 
Fidelity Series Small Cap Opportunities Fund 616,858 16,654,072 4,292,938 765,005 (110,833) (2,888,918) 9,978,241 
Fidelity Series Treasury Bill Index Fund 1,235,916 46,062,877 7,653,747 515,001 2,147 156,994 39,804,187 
Fidelity Series Value Discovery Fund 732,368 19,447,253 5,469,928 711,447 (69,805) (2,931,305) 11,708,583 
 $24,048,621 $741,392,395 $190,773,840 $21,622,588 $(12,601) $(46,012,630) $528,641,945 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $573,284,169) $528,641,945  
Total Investment in Securities (cost $573,284,169)  $528,641,945 
Cash  1,460 
Receivable for investments sold  141,407 
Receivable for fund shares sold  810,780 
Total assets  529,595,592 
Liabilities   
Payable for investments purchased $719,852  
Payable for fund shares redeemed 97,222  
Accrued management fee 141,540  
Distribution and service plan fees payable 776  
Total liabilities  959,390 
Net Assets  $528,636,202 
Net Assets consist of:   
Paid in capital  $570,020,474 
Total accumulated earnings (loss)  (41,384,272) 
Net Assets  $528,636,202 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($1,421,689 ÷ 152,929 shares)(a)  $9.30 
Maximum offering price per share (100/94.25 of $9.30)  $9.87 
Class M:   
Net Asset Value and redemption price per share ($266,732 ÷ 28,697 shares)(a)  $9.29 
Maximum offering price per share (100/96.50 of $9.29)  $9.63 
Class C:   
Net Asset Value and offering price per share ($412,623 ÷ 44,548 shares)(a)  $9.26 
Fidelity Freedom Blend 2020 Fund:   
Net Asset Value, offering price and redemption price per share ($19,124,437 ÷ 2,054,392 shares)  $9.31 
Class K:   
Net Asset Value, offering price and redemption price per share ($23,420,051 ÷ 2,512,561 shares)  $9.32 
Class K6:   
Net Asset Value, offering price and redemption price per share ($476,911,151 ÷ 51,064,092 shares)  $9.34 
Class I:   
Net Asset Value, offering price and redemption price per share ($5,168,724 ÷ 554,911 shares)  $9.31 
Class Z:   
Net Asset Value, offering price and redemption price per share ($120,965 ÷ 12,950 shares)  $9.34 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($1,789,830 ÷ 191,700 shares)  $9.34 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $11,910,867 
Expenses   
Management fee $1,578,450  
Distribution and service plan fees 9,929  
Independent trustees' fees and expenses 1,700  
Total expenses  1,590,079 
Net investment income (loss)  10,320,788 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers (11,338)  
Capital gain distributions from underlying funds:   
Affiliated issuers 9,711,721  
Total net realized gain (loss)  9,700,383 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (46,012,630)  
Total change in net unrealized appreciation (depreciation)  (46,012,630) 
Net gain (loss)  (36,312,247) 
Net increase (decrease) in net assets resulting from operations  $(25,991,459) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 For the period
August 31, 2018 (commencement of operations) to March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $10,320,788 $68,811 
Net realized gain (loss) 9,700,383 87,950 
Change in net unrealized appreciation (depreciation) (46,012,630) 1,370,406 
Net increase (decrease) in net assets resulting from operations (25,991,459) 1,527,167 
Distributions to shareholders (16,892,690) (27,290) 
Share transactions - net increase (decrease) 547,478,331 22,542,143 
Total increase (decrease) in net assets 504,594,182 24,042,020 
Net Assets   
Beginning of period 24,042,020 – 
End of period $528,636,202 $24,042,020 

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, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.92 $10.00 
Income from Investment Operations   
Net investment income (loss)B .16 .05 
Net realized and unrealized gain (loss) (.49) (.01)C 
Total from investment operations (.33) .04 
Distributions from net investment income (.15) (.07) 
Distributions from net realized gain (.14) (.05) 
Total distributions (.29) (.12) 
Net asset value, end of period $9.30 $9.92 
Total ReturnD,E (3.65)% .55% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .75% .77%H,I 
Expenses net of fee waivers, if any .75% .77%H,I 
Expenses net of all reductions .75% .77%H,I 
Net investment income (loss) 1.57% .81%H 
Supplemental Data   
Net assets, end of period (000 omitted) $1,422 $894 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2020 Fund Class M

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.92 $10.00 
Income from Investment Operations   
Net investment income (loss)B .13 .03 
Net realized and unrealized gain (loss) (.48) (.01)C 
Total from investment operations (.35) .02 
Distributions from net investment income (.14) (.05) 
Distributions from net realized gain (.14) (.05) 
Total distributions (.28) (.10) 
Net asset value, end of period $9.29 $9.92 
Total ReturnD,E (3.91)% .33% 
Ratios to Average Net AssetsF,G   
Expenses before reductions 1.00% 1.00%H 
Expenses net of fee waivers, if any 1.00% 1.00%H 
Expenses net of all reductions 1.00% 1.00%H 
Net investment income (loss) 1.32% .58%H 
Supplemental Data   
Net assets, end of period (000 omitted) $267 $107 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2020 Fund Class C

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.90 $10.00 
Income from Investment Operations   
Net investment income (loss)B .08 C 
Net realized and unrealized gain (loss) (.49) C 
Total from investment operations (.41) C 
Distributions from net investment income (.09) (.05) 
Distributions from net realized gain (.14) (.05) 
Total distributions (.23) (.10) 
Net asset value, end of period $9.26 $9.90 
Total ReturnD,E (4.42)% .08% 
Ratios to Average Net AssetsF,G   
Expenses before reductions 1.50% 1.52%H,I 
Expenses net of fee waivers, if any 1.50% 1.52%H,I 
Expenses net of all reductions 1.50% 1.52%H,I 
Net investment income (loss) .82% .06%H 
Supplemental Data   
Net assets, end of period (000 omitted) $413 $385 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2020 Fund

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.92 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .06 
Net realized and unrealized gain (loss) (.48) (.01)C 
Total from investment operations (.30) .05 
Distributions from net investment income (.17) (.08) 
Distributions from net realized gain (.14) (.05) 
Total distributions (.31) (.13) 
Net asset value, end of period $9.31 $9.92 
Total ReturnD (3.38)% .63% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .51%G .50%H 
Expenses net of fee waivers, if any .51%G .50%H 
Expenses net of all reductions .51%G .50%H 
Net investment income (loss) 1.81% 1.08%H 
Supplemental Data   
Net assets, end of period (000 omitted) $19,124 $1,168 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2020 Fund Class K

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.94 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .07 
Net realized and unrealized gain (loss) (.49) (.01)C 
Total from investment operations (.29) .06 
Distributions from net investment income (.19) (.07) 
Distributions from net realized gain (.14) (.05) 
Total distributions (.33) (.12) 
Net asset value, end of period $9.32 $9.94 
Total ReturnD (3.35)% .73% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .40% .40%G 
Expenses net of fee waivers, if any .40% .40%G 
Expenses net of all reductions .40% .40%G 
Net investment income (loss) 1.92% 1.18%G 
Supplemental Data   
Net assets, end of period (000 omitted) $23,420 $101 
Portfolio turnover rateF 40% 78%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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2020 Fund Class K6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.94 $10.00 
Income from Investment Operations   
Net investment income (loss)B .21 .07 
Net realized and unrealized gain (loss) (.49) C 
Total from investment operations (.28) .07 
Distributions from net investment income (.18) (.08) 
Distributions from net realized gain (.14) (.05) 
Total distributions (.32) (.13) 
Net asset value, end of period $9.34 $9.94 
Total ReturnD (3.21)% .77% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .30% .31%G,H 
Expenses net of fee waivers, if any .30% .31%G,H 
Expenses net of all reductions .30% .31%G,H 
Net investment income (loss) 2.02% 1.27%G 
Supplemental Data   
Net assets, end of period (000 omitted) $476,911 $21,065 
Portfolio turnover rateF 40% 78%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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2020 Fund Class I

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.94 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .06 
Net realized and unrealized gain (loss) (.50) C 
Total from investment operations (.31) .06 
Distributions from net investment income (.18) (.07) 
Distributions from net realized gain (.14) (.05) 
Total distributions (.32) (.12) 
Net asset value, end of period $9.31 $9.94 
Total ReturnD (3.50)% .69% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .51%G .50%H 
Expenses net of fee waivers, if any .51%G .50%H 
Expenses net of all reductions .51%G .50%H 
Net investment income (loss) 1.81% 1.08%H 
Supplemental Data   
Net assets, end of period (000 omitted) $5,169 $121 
Portfolio turnover rateF 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 Amount represents less than $.005 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2020 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.94 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .07 
Net realized and unrealized gain (loss) (.50) (.01)C 
Total from investment operations (.30) .06 
Distributions from net investment income (.17) (.07) 
Distributions from net realized gain (.14) (.05) 
Total distributions (.30)D (.12) 
Net asset value, end of period $9.34 $9.94 
Total ReturnE (3.35)% .73% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .40% .40%H 
Expenses net of fee waivers, if any .40% .40%H 
Expenses net of all reductions .40% .40%H 
Net investment income (loss) 1.92% 1.18%H 
Supplemental Data   
Net assets, end of period (000 omitted) $121 $101 
Portfolio turnover rateG 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 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 distributions of $.30 per share is comprised of distributions from net investment income of $.165 and distributions from net realized gain of $.138 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2020 Fund Class Z6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.94 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .07 
Net realized and unrealized gain (loss) (.48) C 
Total from investment operations (.28) .07 
Distributions from net investment income (.18) (.08) 
Distributions from net realized gain (.14) (.05) 
Total distributions (.32) (.13) 
Net asset value, end of period $9.34 $9.94 
Total ReturnD (3.19)% .77% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .31%G .30%H 
Expenses net of fee waivers, if any .31%G .30%H 
Expenses net of all reductions .31%G .30%H 
Net investment income (loss) 2.01% 1.28%H 
Supplemental Data   
Net assets, end of period (000 omitted) $1,790 $101 
Portfolio turnover rateF 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 Amount represents less than $.005 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 H Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 8.3 
Fidelity Series Emerging Markets Opportunities Fund 8.0 
Fidelity Series Government Bond Index Fund 7.2 
Fidelity Series Investment Grade Bond Fund 6.9 
Fidelity Series Inflation-Protected Bond Index Fund 6.4 
Fidelity Series Blue Chip Growth Fund 5.7 
Fidelity Series Treasury Bill Index Fund 5.5 
Fidelity Series Investment Grade Securitized Fund 4.9 
Fidelity Series Corporate Bond Fund 4.6 
Fidelity Series International Growth Fund 4.5 
 62.0 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 30.9% 
   International Equity Funds 26.5% 
   Bond Funds 34.3% 
   Short-Term Funds 8.3% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 30.9%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 3,044,721 $39,276,904 
Fidelity Series Commodity Strategy Fund (a) 6,356,436 23,200,992 
Fidelity Series Large Cap Growth Index Fund (a) 2,920,087 29,317,674 
Fidelity Series Large Cap Stock Fund (a) 2,535,668 30,402,665 
Fidelity Series Large Cap Value Index Fund (a) 5,880,591 56,512,480 
Fidelity Series Small Cap Opportunities Fund (a) 1,485,314 15,075,941 
Fidelity Series Value Discovery Fund (a) 1,781,160 17,686,922 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $253,260,514)  211,473,578 
International Equity Funds - 26.5%   
Fidelity Series Canada Fund (a) 1,253,251 10,389,447 
Fidelity Series Emerging Markets Fund (a) 807,580 5,717,669 
Fidelity Series Emerging Markets Opportunities Fund (a) 3,499,971 54,494,556 
Fidelity Series International Growth Fund (a) 2,133,875 30,898,510 
Fidelity Series International Index Fund (a) 1,400,817 11,486,700 
Fidelity Series International Small Cap Fund (a) 681,411 9,110,460 
Fidelity Series International Value Fund (a) 4,165,431 29,741,178 
Fidelity Series Overseas Fund (a) 3,371,538 29,163,804 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $215,646,823)  181,002,324 
Bond Funds - 34.3%   
Fidelity Series Corporate Bond Fund (a) 3,114,457 31,642,886 
Fidelity Series Emerging Markets Debt Fund (a) 531,949 4,287,511 
Fidelity Series Floating Rate High Income Fund (a) 121,944 980,429 
Fidelity Series Government Bond Index Fund (a) 4,333,425 48,924,364 
Fidelity Series High Income Fund (a) 603,697 4,974,465 
Fidelity Series Inflation-Protected Bond Index Fund (a) 4,307,874 43,423,368 
Fidelity Series Investment Grade Bond Fund (a) 4,093,853 47,202,122 
Fidelity Series Investment Grade Securitized Fund (a) 3,160,323 33,309,800 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 1,615,948 17,274,484 
Fidelity Series Real Estate Income Fund (a) 321,245 2,704,880 
TOTAL BOND FUNDS   
(Cost $226,921,755)  234,724,309 
Short-Term Funds - 8.3%   
Fidelity Cash Central Fund 0.29% (b) 49 49 
Fidelity Series Government Money Market Fund 0.4% (a)(c) 11,100,027 11,100,027 
Fidelity Series Short-Term Credit Fund (a) 827,111 8,171,855 
Fidelity Series Treasury Bill Index Fund (a) 3,718,522 37,333,959 
TOTAL SHORT-TERM FUNDS   
(Cost $56,572,480)  56,605,890 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $752,401,572)  683,806,101 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (8,119) 
NET ASSETS - 100%  $683,797,982 

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 $3,350,480 $58,742,430 $17,701,292 $4,631,566 $(321,363) $(4,793,351) $39,276,904 
Fidelity Series Canada Fund 285,856 13,068,860 320,869 128,976 237 (2,644,637) 10,389,447 
Fidelity Series Commodity Strategy Fund 1,042,420 32,669,265 3,727,573 345,136 (488,294) (6,294,826) 23,200,992 
Fidelity Series Corporate Bond Fund 1,846,960 37,667,277 7,325,847 1,132,548 (171,483) (374,021) 31,642,886 
Fidelity Series Emerging Markets Debt Fund 308,801 5,424,858 641,502 247,214 (15,149) (789,497) 4,287,511 
Fidelity Series Emerging Markets Fund 320,929 7,970,696 545,575 147,200 (45,728) (1,982,653) 5,717,669 
Fidelity Series Emerging Markets Opportunities Fund 2,908,667 67,604,268 4,642,609 1,475,749 (302,036) (11,073,734) 54,494,556 
Fidelity Series Floating Rate High Income Fund 66,227 1,153,147 87,097 53,476 (2,914) (148,934) 980,429 
Fidelity Series Government Bond Index Fund 2,542,458 53,365,687 11,476,465 991,646 162,346 4,330,338 48,924,364 
Fidelity Series Government Money Market Fund 0.4% 541,049 22,281,386 11,722,408 141,410 -- -- 11,100,027 
Fidelity Series High Income Fund 506,764 5,791,638 593,830 301,738 (15,327) (714,780) 4,974,465 
Fidelity Series Inflation-Protected Bond Index Fund 1,914,163 49,598,298 8,862,913 589,741 (11,102) 784,922 43,423,368 
Fidelity Series International Growth Fund 2,412,440 43,708,552 13,225,113 1,375,662 (164,158) (1,833,211) 30,898,510 
Fidelity Series International Index Fund 631,642 14,446,651 981,205 246,929 (99,741) (2,510,647) 11,486,700 
Fidelity Series International Small Cap Fund 628,628 12,488,450 2,092,190 484,023 (158,873) (1,755,555) 9,110,460 
Fidelity Series International Value Fund 2,365,715 44,534,805 7,813,201 1,526,619 (564,138) (8,782,003) 29,741,178 
Fidelity Series Investment Grade Bond Fund 2,698,664 55,032,468 11,548,328 1,275,824 (94,347) 1,113,665 47,202,122 
Fidelity Series Investment Grade Securitized Fund 1,904,845 38,380,251 7,993,433 1,084,675 3,031 1,015,106 33,309,800 
Fidelity Series Large Cap Growth Index Fund 2,622,519 43,088,147 16,178,462 469,565 207,282 (421,812) 29,317,674 
Fidelity Series Large Cap Stock Fund 2,608,633 45,141,466 10,573,486 2,292,221 (40,707) (6,733,241) 30,402,665 
Fidelity Series Large Cap Value Index Fund 4,888,512 86,416,094 18,445,714 4,396,372 (316,789) (16,029,623) 56,512,480 
Fidelity Series Long-Term Treasury Bond Index Fund 2,517,705 38,372,986 28,930,430 1,879,282 2,273,301 3,040,922 17,274,484 
Fidelity Series Overseas Fund -- 33,907,921 -- 77,149 -- (4,744,117) 29,163,804 
Fidelity Series Real Estate Income Fund 208,057 3,636,389 303,839 180,583 (11,773) (823,954) 2,704,880 
Fidelity Series Short-Term Credit Fund 543,898 10,263,141 2,545,297 188,080 13,043 (102,930) 8,171,855 
Fidelity Series Small Cap Opportunities Fund 1,300,048 22,954,101 4,607,307 1,105,134 (134,147) (4,436,754) 15,075,941 
Fidelity Series Treasury Bill Index Fund 1,569,529 43,775,269 8,147,872 418,508 4,740 132,293 37,333,959 
Fidelity Series Value Discovery Fund 1,543,092 26,691,756 5,945,195 1,031,361 (127,055) (4,475,676) 17,686,922 
 $44,078,701 $918,176,257 $206,979,052 $28,218,387 $(421,144) $(71,048,710) $683,806,052 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $49) $49  
Other affiliated issuers (cost $752,401,523) 683,806,052  
Total Investment in Securities (cost $752,401,572)  $683,806,101 
Cash  1,494 
Receivable for investments sold  175,839 
Receivable for fund shares sold  735,937 
Total assets  684,719,371 
Liabilities   
Payable for investments purchased $423,546  
Payable for fund shares redeemed 309,393  
Accrued management fee 187,346  
Distribution and service plan fees payable 1,104  
Total liabilities  921,389 
Net Assets  $683,797,982 
Net Assets consist of:   
Paid in capital  $748,810,859 
Total accumulated earnings (loss)  (65,012,877) 
Net Assets  $683,797,982 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($1,705,613 ÷ 187,573 shares)(a)  $9.09 
Maximum offering price per share (100/94.25 of $9.09)  $9.64 
Class M:   
Net Asset Value and redemption price per share ($885,653 ÷ 97,016 shares)(a)  $9.13 
Maximum offering price per share (100/96.50 of $9.13)  $9.46 
Class C:   
Net Asset Value and offering price per share ($472,145 ÷ 52,169 shares)(a)  $9.05 
Fidelity Freedom Blend 2025 Fund:   
Net Asset Value, offering price and redemption price per share ($21,222,748 ÷ 2,332,131 shares)  $9.10 
Class K:   
Net Asset Value, offering price and redemption price per share ($24,031,104 ÷ 2,637,895 shares)  $9.11 
Class K6:   
Net Asset Value, offering price and redemption price per share ($623,939,534 ÷ 68,362,205 shares)  $9.13 
Class I:   
Net Asset Value, offering price and redemption price per share ($7,684,928 ÷ 844,512 shares)  $9.10 
Class Z:   
Net Asset Value, offering price and redemption price per share ($96,106 ÷ 10,530 shares)  $9.13 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($3,760,151 ÷ 412,183 shares)  $9.12 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $14,817,873 
Expenses   
Management fee $2,015,586  
Distribution and service plan fees 9,943  
Independent trustees' fees and expenses 2,105  
Total expenses  2,027,634 
Net investment income (loss)  12,790,239 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers (419,798)  
Capital gain distributions from underlying funds:   
Affiliated issuers 13,400,514  
Total net realized gain (loss)  12,980,716 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (71,048,710)  
Total change in net unrealized appreciation (depreciation)  (71,048,710) 
Net gain (loss)  (58,067,994) 
Net increase (decrease) in net assets resulting from operations  $(45,277,755) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 For the period
August 31, 2018 (commencement of operations) to March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $12,790,239 $88,946 
Net realized gain (loss) 12,980,716 19,024 
Change in net unrealized appreciation (depreciation) (71,048,710) 2,453,239 
Net increase (decrease) in net assets resulting from operations (45,277,755) 2,561,209 
Distributions to shareholders (22,266,810) (29,520) 
Share transactions - net increase (decrease) 707,275,688 41,535,170 
Total increase (decrease) in net assets 639,731,123 44,066,859 
Net Assets   
Beginning of period 44,066,859 – 
End of period $683,797,982 $44,066,859 

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, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.82 $10.00 
Income from Investment Operations   
Net investment income (loss)B .16 .03 
Net realized and unrealized gain (loss) (.58) (.02)C 
Total from investment operations (.42) .01 
Distributions from net investment income (.15) (.11) 
Distributions from net realized gain (.15) (.08) 
Total distributions (.31)D (.19) 
Net asset value, end of period $9.09 $9.82 
Total ReturnE,F (4.73)% .29% 
Ratios to Average Net AssetsG,H   
Expenses before reductions .76% .76%I 
Expenses net of fee waivers, if any .76% .76%I 
Expenses net of all reductions .76% .76%I 
Net investment income (loss) 1.56% .58%I 
Supplemental Data   
Net assets, end of period (000 omitted) $1,706 $168 
Portfolio turnover rateH 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 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 distributions of $.31 per share is comprised of distributions from net investment income of $.152 and distributions from net realized gain of $.154 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2025 Fund Class M

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.82 $10.00 
Income from Investment Operations   
Net investment income (loss)B .13 .02 
Net realized and unrealized gain (loss) (.58) (.02)C 
Total from investment operations (.45) – 
Distributions from net investment income (.08) (.10) 
Distributions from net realized gain (.15) (.08) 
Total distributions (.24)D (.18) 
Net asset value, end of period $9.13 $9.82 
Total ReturnE,F (4.94)% .16% 
Ratios to Average Net AssetsG,H   
Expenses before reductions 1.02%I 1.02%I,J 
Expenses net of fee waivers, if any 1.02%I 1.02%I,J 
Expenses net of all reductions 1.02%I 1.02%I,J 
Net investment income (loss) 1.31% .32%J 
Supplemental Data   
Net assets, end of period (000 omitted) $886 $746 
Portfolio turnover rateH 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 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 distributions of $.24 per share is comprised of distributions from net investment income of $.082 and distributions from net realized gain of $.154 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 J Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2025 Fund Class C

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.81 $10.00 
Income from Investment Operations   
Net investment income (loss)B .08 (.01) 
Net realized and unrealized gain (loss) (.58) (.02)C 
Total from investment operations (.50) (.03) 
Distributions from net investment income (.11) (.09) 
Distributions from net realized gain (.15) (.08) 
Total distributions (.26) (.16)D 
Net asset value, end of period $9.05 $9.81 
Total ReturnE,F (5.45)% (.12)% 
Ratios to Average Net AssetsG,H   
Expenses before reductions 1.51% 1.51%I 
Expenses net of fee waivers, if any 1.51% 1.51%I 
Expenses net of all reductions 1.51% 1.51%I 
Net investment income (loss) .81% (.17)%I 
Supplemental Data   
Net assets, end of period (000 omitted) $472 $298 
Portfolio turnover rateH 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 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 distributions of $.16 per share is comprised of distributions from net investment income of $.085 and distributions from net realized gain of $.078 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2025 Fund

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.82 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .05 
Net realized and unrealized gain (loss) (.57) (.03)C 
Total from investment operations (.39) .02 
Distributions from net investment income (.17) (.13) 
Distributions from net realized gain (.15) (.08) 
Total distributions (.33)D (.20)E 
Net asset value, end of period $9.10 $9.82 
Total ReturnF (4.45)% .42% 
Ratios to Average Net AssetsG,H   
Expenses before reductions .52%I .52%I,J 
Expenses net of fee waivers, if any .52%I .52%I,J 
Expenses net of all reductions .52%I .52%I,J 
Net investment income (loss) 1.80% .83%J 
Supplemental Data   
Net assets, end of period (000 omitted) $21,223 $1,621 
Portfolio turnover rateH 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 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 distributions of $.33 per share is comprised of distributions from net investment income of $.172 and distributions from net realized gain of $.154 per share.

 E Total distributions of $.20 per share is comprised of distributions from net investment income of $.125 and distributions from net realized gain of $.078 per share.

 F Total returns for periods of less than one year are not annualized.

 G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 J Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2025 Fund Class K

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.83 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .05 
Net realized and unrealized gain (loss) (.58) (.02)C 
Total from investment operations (.38) .03 
Distributions from net investment income (.18) (.12) 
Distributions from net realized gain (.15) (.08) 
Total distributions (.34)D (.20) 
Net asset value, end of period $9.11 $9.83 
Total ReturnE (4.34)% .47% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .41% .41%H 
Expenses net of fee waivers, if any .41% .41%H 
Expenses net of all reductions .41% .41%H 
Net investment income (loss) 1.91% .93%H 
Supplemental Data   
Net assets, end of period (000 omitted) $24,031 $101 
Portfolio turnover rateG 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 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 distributions of $.34 per share is comprised of distributions from net investment income of $.184 and distributions from net realized gain of $.154 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2025 Fund Class K6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.84 $10.00 
Income from Investment Operations   
Net investment income (loss)B .21 .06 
Net realized and unrealized gain (loss) (.59) (.02)C 
Total from investment operations (.38) .04 
Distributions from net investment income (.18) (.12) 
Distributions from net realized gain (.16) (.08) 
Total distributions (.33)D (.20) 
Net asset value, end of period $9.13 $9.84 
Total ReturnE (4.28)% .60% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .31% .32%H,I 
Expenses net of fee waivers, if any .31% .32%H,I 
Expenses net of all reductions .31% .32%H,I 
Net investment income (loss) 2.01% 1.02%H 
Supplemental Data   
Net assets, end of period (000 omitted) $623,940 $40,828 
Portfolio turnover rateG 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 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 distributions of $.33 per share is comprised of distributions from net investment income of $.175 and distributions from net realized gain of $.157 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2025 Fund Class I

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.83 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .05 
Net realized and unrealized gain (loss) (.57) (.02)C 
Total from investment operations (.39) .03 
Distributions from net investment income (.18) (.12) 
Distributions from net realized gain (.15) (.08) 
Total distributions (.34)D (.20) 
Net asset value, end of period $9.10 $9.83 
Total ReturnE (4.46)% .43% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .51% .51%H 
Expenses net of fee waivers, if any .51% .51%H 
Expenses net of all reductions .51% .51%H 
Net investment income (loss) 1.81% .83%H 
Supplemental Data   
Net assets, end of period (000 omitted) $7,685 $100 
Portfolio turnover rateG 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 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 distributions of $.34 per share is comprised of distributions from net investment income of $.182 and distributions from net realized gain of $.154 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2025 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.83 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .05 
Net realized and unrealized gain (loss) (.58) (.02)C 
Total from investment operations (.38) .03 
Distributions from net investment income (.17) (.12) 
Distributions from net realized gain (.15) (.08) 
Total distributions (.32) (.20) 
Net asset value, end of period $9.13 $9.83 
Total ReturnD (4.30)% .47% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .41% .41%G 
Expenses net of fee waivers, if any .41% .41%G 
Expenses net of all reductions .41% .41%G 
Net investment income (loss) 1.91% .93%G 
Supplemental Data   
Net assets, end of period (000 omitted) $96 $101 
Portfolio turnover rateF 34% 23%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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2025 Fund Class Z6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.84 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .06 
Net realized and unrealized gain (loss) (.58) (.02)C 
Total from investment operations (.38) .04 
Distributions from net investment income (.18) (.12) 
Distributions from net realized gain (.15) (.08) 
Total distributions (.34)D (.20) 
Net asset value, end of period $9.12 $9.84 
Total ReturnE (4.35)% .60% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .32%H .31%I 
Expenses net of fee waivers, if any .32%H .31%I 
Expenses net of all reductions .32%H .31%I 
Net investment income (loss) 2.01% 1.03%I 
Supplemental Data   
Net assets, end of period (000 omitted) $3,760 $104 
Portfolio turnover rateG 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 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 distributions of $.34 per share is comprised of distributions from net investment income of $.183 and distributions from net realized gain of $.154 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 9.9 
Fidelity Series Emerging Markets Opportunities Fund 8.8 
Fidelity Series Blue Chip Growth Fund 6.9 
Fidelity Series Government Bond Index Fund 6.1 
Fidelity Series Investment Grade Bond Fund 5.8 
Fidelity Series Large Cap Stock Fund 5.3 
Fidelity Series Inflation-Protected Bond Index Fund 5.3 
Fidelity Series International Growth Fund 5.2 
Fidelity Series Large Cap Growth Index Fund 5.2 
Fidelity Series International Value Fund 5.0 
 63.5 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 36.5% 
   International Equity Funds 30.0% 
   Bond Funds 29.7% 
   Short-Term Funds 3.8% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 36.5%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 3,599,349 $46,431,602 
Fidelity Series Commodity Strategy Fund (a) 6,258,663 22,844,118 
Fidelity Series Large Cap Growth Index Fund (a) 3,468,995 34,828,705 
Fidelity Series Large Cap Stock Fund (a) 2,990,726 35,858,801 
Fidelity Series Large Cap Value Index Fund (a) 6,951,344 66,802,413 
Fidelity Series Small Cap Opportunities Fund (a) 1,747,743 17,739,595 
Fidelity Series Value Discovery Fund (a) 2,097,283 20,826,021 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $294,914,660)  245,331,255 
International Equity Funds - 30.0%   
Fidelity Series Canada Fund (a) 1,358,824 11,264,649 
Fidelity Series Emerging Markets Fund (a) 895,265 6,338,473 
Fidelity Series Emerging Markets Opportunities Fund (a) 3,803,012 59,212,903 
Fidelity Series International Growth Fund (a) 2,406,032 34,839,346 
Fidelity Series International Index Fund (a) 1,617,596 13,264,285 
Fidelity Series International Small Cap Fund (a) 785,402 10,500,823 
Fidelity Series International Value Fund (a) 4,704,538 33,590,402 
Fidelity Series Overseas Fund (a) 3,812,872 32,981,347 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $241,984,247)  201,992,228 
Bond Funds - 29.7%   
Fidelity Series Corporate Bond Fund (a) 2,602,654 26,442,962 
Fidelity Series Emerging Markets Debt Fund (a) 534,055 4,304,484 
Fidelity Series Floating Rate High Income Fund (a) 121,490 976,777 
Fidelity Series Government Bond Index Fund (a) 3,617,006 40,835,997 
Fidelity Series High Income Fund (a) 603,084 4,969,414 
Fidelity Series Inflation-Protected Bond Index Fund (a) 3,513,364 35,414,710 
Fidelity Series Investment Grade Bond Fund (a) 3,380,872 38,981,456 
Fidelity Series Investment Grade Securitized Fund (a) 2,642,540 27,852,376 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 1,617,485 17,290,919 
Fidelity Series Real Estate Income Fund (a) 320,811 2,701,228 
TOTAL BOND FUNDS   
(Cost $194,009,875)  199,770,323 
Short-Term Funds - 3.8%   
Fidelity Cash Central Fund 0.29% (b) 1,279 1,280 
Fidelity Series Government Money Market Fund 0.4% (a)(c) 6,946,249 6,946,249 
Fidelity Series Short-Term Credit Fund (a) 144,899 1,431,604 
Fidelity Series Treasury Bill Index Fund (a) 1,728,970 17,358,861 
TOTAL SHORT-TERM FUNDS   
(Cost $25,718,827)  25,737,994 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $756,627,609)  672,831,800 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (9,833) 
NET ASSETS - 100%  $672,821,967 

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 
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 Blue Chip Growth Fund $2,215,402 $69,080,491 $18,780,273 $5,362,404 $(268,471) $(5,815,547) $46,431,602 
Fidelity Series Canada Fund 183,055 14,460,493 252,571 145,230 138 (3,126,466) 11,264,649 
Fidelity Series Commodity Strategy Fund 539,298 32,198,647 3,223,810 333,588 (487,831) (6,182,186) 22,844,118 
Fidelity Series Corporate Bond Fund 783,911 31,674,823 5,449,107 893,001 (139,659) (427,006) 26,442,962 
Fidelity Series Emerging Markets Debt Fund 167,998 5,354,195 411,865 238,919 (7,973) (797,871) 4,304,484 
Fidelity Series Emerging Markets Fund 197,749 8,764,184 400,426 159,256 (22,582) (2,200,452) 6,338,473 
Fidelity Series Emerging Markets Opportunities Fund 1,791,612 72,890,431 2,915,888 1,596,658 (170,237) (12,383,015) 59,212,903 
Fidelity Series Floating Rate High Income Fund 36,030 1,148,126 58,579 51,322 (1,263) (147,537) 976,777 
Fidelity Series Government Bond Index Fund 1,073,956 44,731,960 8,580,160 780,550 105,485 3,504,756 40,835,997 
Fidelity Series Government Money Market Fund 0.4% 99,943 12,264,248 5,417,942 35,796 -- -- 6,946,249 
Fidelity Series High Income Fund 280,135 5,766,328 358,167 290,455 (6,941) (711,941) 4,969,414 
Fidelity Series Inflation-Protected Bond Index Fund 360,714 38,145,264 3,382,896 403,262 (12,915) 304,543 35,414,710 
Fidelity Series International Growth Fund 1,535,541 49,404,916 13,895,514 1,544,252 (55,856) (2,149,741) 34,839,346 
Fidelity Series International Index Fund 403,447 16,383,329 578,877 277,770 (41,124) (2,902,490) 13,264,285 
Fidelity Series International Small Cap Fund 401,884 14,342,046 2,081,308 543,187 (138,438) (2,023,361) 10,500,823 
Fidelity Series International Value Fund 1,517,027 50,066,967 7,556,358 1,713,683 (286,701) (10,150,533) 33,590,402 
Fidelity Series Investment Grade Bond Fund 1,142,086 46,353,001 9,240,753 1,005,120 (93,589) 820,711 38,981,456 
Fidelity Series Investment Grade Securitized Fund 808,243 32,166,790 5,935,097 856,175 3,673 808,767 27,852,376 
Fidelity Series Large Cap Growth Index Fund 1,735,738 51,365,926 17,894,608 543,270 147,946 (526,297) 34,828,705 
Fidelity Series Large Cap Stock Fund 1,722,980 52,629,043 10,480,090 2,651,018 53,892 (8,067,024) 35,858,801 
Fidelity Series Large Cap Value Index Fund 3,226,419 101,136,728 18,248,338 5,095,468 (94,058) (19,218,338) 66,802,413 
Fidelity Series Long-Term Treasury Bond Index Fund 1,414,497 39,201,156 28,653,370 1,824,691 2,262,179 3,066,457 17,290,919 
Fidelity Series Overseas Fund -- 38,479,470 -- 86,585 -- (5,498,123) 32,981,347 
Fidelity Series Real Estate Income Fund 113,275 3,621,854 206,195 173,539 (4,510) (823,196) 2,701,228 
Fidelity Series Short-Term Credit Fund 100,451 2,980,689 1,642,110 39,723 12,893 (20,319) 1,431,604 
Fidelity Series Small Cap Opportunities Fund 860,698 26,807,075 4,532,835 1,279,798 (79,185) (5,316,158) 17,739,595 
Fidelity Series Treasury Bill Index Fund 262,183 22,099,626 5,045,796 103,551 4,168 38,680 17,358,861 
Fidelity Series Value Discovery Fund 1,020,845 31,272,348 6,030,059 1,197,599 (27,520) (5,409,593) 20,826,021 
 $23,995,117 $914,790,154 $181,252,992 $29,225,870 $651,521 $(85,353,280) $672,830,520 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $1,280) $1,280  
Other affiliated issuers (cost $756,626,329) 672,830,520  
Total Investment in Securities (cost $756,627,609)  $672,831,800 
Receivable for investments sold  181,331 
Receivable for fund shares sold  1,131,430 
Distributions receivable from Fidelity Central Funds  
Total assets  674,144,565 
Liabilities   
Payable for investments purchased $905,024  
Payable for fund shares redeemed 228,008  
Accrued management fee 188,283  
Distribution and service plan fees payable 1,283  
Total liabilities  1,322,598 
Net Assets  $672,821,967 
Net Assets consist of:   
Paid in capital  $751,608,318 
Total accumulated earnings (loss)  (78,786,351) 
Net Assets  $672,821,967 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($1,515,624 ÷ 172,097 shares)(a)  $8.81 
Maximum offering price per share (100/94.25 of $8.81)  $9.35 
Class M:   
Net Asset Value and redemption price per share ($975,958 ÷ 110,971 shares)(a)  $8.79 
Maximum offering price per share (100/96.50 of $8.79)  $9.11 
Class C:   
Net Asset Value and offering price per share ($987,117 ÷ 112,496 shares)(a)  $8.77 
Fidelity Freedom Blend 2030 Fund:   
Net Asset Value, offering price and redemption price per share ($17,916,769 ÷ 2,031,094 shares)  $8.82 
Class K:   
Net Asset Value, offering price and redemption price per share ($21,646,479 ÷ 2,451,816 shares)  $8.83 
Class K6:   
Net Asset Value, offering price and redemption price per share ($615,185,221 ÷ 69,550,716 shares)  $8.85 
Class I:   
Net Asset Value, offering price and redemption price per share ($10,529,522 ÷ 1,193,505 shares)  $8.82 
Class Z:   
Net Asset Value, offering price and redemption price per share ($140,734 ÷ 15,910 shares)  $8.85 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($3,924,543 ÷ 443,661 shares)  $8.85 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $14,401,613 
Income from Fidelity Central Funds  
Total income  14,401,617 
Expenses   
Management fee $2,006,888  
Distribution and service plan fees 10,323  
Independent trustees' fees and expenses 2,023  
Total expenses  2,019,234 
Net investment income (loss)  12,382,383 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers 652,604  
Capital gain distributions from underlying funds:   
Affiliated issuers 14,824,257  
Total net realized gain (loss)  15,476,861 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (85,353,280)  
Total change in net unrealized appreciation (depreciation)  (85,353,280) 
Net gain (loss)  (69,876,419) 
Net increase (decrease) in net assets resulting from operations  $(57,494,036) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 For the period
August 31, 2018 (commencement of operations) to March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $12,382,383 $40,104 
Net realized gain (loss) 15,476,861 (6,492) 
Change in net unrealized appreciation (depreciation) (85,353,280) 1,557,471 
Net increase (decrease) in net assets resulting from operations (57,494,036) 1,591,083 
Distributions to shareholders (22,856,187) (27,211) 
Share transactions - net increase (decrease) 729,183,489 22,424,829 
Total increase (decrease) in net assets 648,833,266 23,988,701 
Net Assets   
Beginning of period 23,988,701 – 
End of period $672,821,967 $23,988,701 

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, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.68 $10.00 
Income from Investment Operations   
Net investment income (loss)B .16 .02 
Net realized and unrealized gain (loss) (.70) (.09)C 
Total from investment operations (.54) (.07) 
Distributions from net investment income (.16) (.13) 
Distributions from net realized gain (.17) (.12) 
Total distributions (.33) (.25) 
Net asset value, end of period $8.81 $9.68 
Total ReturnD,E (6.09)% (.45)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .77% .78%H,I 
Expenses net of fee waivers, if any .77% .78%H,I 
Expenses net of all reductions .77% .78%H,I 
Net investment income (loss) 1.56% .39%H 
Supplemental Data   
Net assets, end of period (000 omitted) $1,516 $348 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2030 Fund Class M

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.68 $10.00 
Income from Investment Operations   
Net investment income (loss)B .13 .01 
Net realized and unrealized gain (loss) (.70) (.09)C 
Total from investment operations (.57) (.08) 
Distributions from net investment income (.15) (.12) 
Distributions from net realized gain (.17) (.12) 
Total distributions (.32) (.24) 
Net asset value, end of period $8.79 $9.68 
Total ReturnD,E (6.44)% (.56)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions 1.02% 1.02%H 
Expenses net of fee waivers, if any 1.02% 1.02%H 
Expenses net of all reductions 1.02% 1.02%H 
Net investment income (loss) 1.32% .15%H 
Supplemental Data   
Net assets, end of period (000 omitted) $976 $170 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2030 Fund Class C

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.66 $10.00 
Income from Investment Operations   
Net investment income (loss)B .08 (.02) 
Net realized and unrealized gain (loss) (.71) (.08)C 
Total from investment operations (.63) (.10) 
Distributions from net investment income (.09) (.12) 
Distributions from net realized gain (.17) (.12) 
Total distributions (.26) (.24) 
Net asset value, end of period $8.77 $9.66 
Total ReturnD,E (6.94)% (.81)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions 1.51%H 1.52%I 
Expenses net of fee waivers, if any 1.51%H 1.52%I 
Expenses net of all reductions 1.51%H 1.52%I 
Net investment income (loss) .82% (.35)%I 
Supplemental Data   
Net assets, end of period (000 omitted) $987 $259 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2030 Fund

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.69 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .04 
Net realized and unrealized gain (loss) (.70) (.09)C 
Total from investment operations (.52) (.05) 
Distributions from net investment income (.18) (.14) 
Distributions from net realized gain (.17) (.12) 
Total distributions (.35) (.26) 
Net asset value, end of period $8.82 $9.69 
Total ReturnD (5.94)% (.26)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .53%G .52%H 
Expenses net of fee waivers, if any .53%G .52%H 
Expenses net of all reductions .53%G .52%H 
Net investment income (loss) 1.81% .65%H 
Supplemental Data   
Net assets, end of period (000 omitted) $17,917 $762 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2030 Fund Class K

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.70 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .04 
Net realized and unrealized gain (loss) (.71) (.08)C 
Total from investment operations (.51) (.04) 
Distributions from net investment income (.19) (.14) 
Distributions from net realized gain (.17) (.12) 
Total distributions (.36) (.26) 
Net asset value, end of period $8.83 $9.70 
Total ReturnD (5.86)% (.15)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .42% .42%G 
Expenses net of fee waivers, if any .42% .42%G 
Expenses net of all reductions .42% .42%G 
Net investment income (loss) 1.91% .75%G 
Supplemental Data   
Net assets, end of period (000 omitted) $21,646 $100 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2030 Fund Class K6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.70 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .05 
Net realized and unrealized gain (loss) (.70) (.09)C 
Total from investment operations (.50) (.04) 
Distributions from net investment income (.18) (.14) 
Distributions from net realized gain (.17) (.12) 
Total distributions (.35) (.26) 
Net asset value, end of period $8.85 $9.70 
Total ReturnD (5.71)% (.11)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .32% .33%G,H 
Expenses net of fee waivers, if any .32% .33%G,H 
Expenses net of all reductions .32% .33%G,H 
Net investment income (loss) 2.02% .84%G 
Supplemental Data   
Net assets, end of period (000 omitted) $615,185 $21,781 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2030 Fund Class I

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.69 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .04 
Net realized and unrealized gain (loss) (.70) (.10)C 
Total from investment operations (.52) (.06) 
Distributions from net investment income (.18) (.14) 
Distributions from net realized gain (.17) (.12) 
Total distributions (.35) (.25)D 
Net asset value, end of period $8.82 $9.69 
Total ReturnE (5.92)% (.29)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .53%H .52%I 
Expenses net of fee waivers, if any .53%H .52%I 
Expenses net of all reductions .53%H .52%I 
Net investment income (loss) 1.81% .65%I 
Supplemental Data   
Net assets, end of period (000 omitted) $10,530 $100 
Portfolio turnover rateG 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 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 distributions of $.25 per share is comprised of distributions from net investment income of $.137 and distributions from net realized gain of $.117 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2030 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.70 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .04 
Net realized and unrealized gain (loss) (.70) (.08)C 
Total from investment operations (.51) (.04) 
Distributions from net investment income (.17) (.14) 
Distributions from net realized gain (.17) (.12) 
Total distributions (.34) (.26) 
Net asset value, end of period $8.85 $9.70 
Total ReturnD (5.83)% (.15)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .42% .42%G 
Expenses net of fee waivers, if any .42% .42%G 
Expenses net of all reductions .42% .42%G 
Net investment income (loss) 1.92% .75%G 
Supplemental Data   
Net assets, end of period (000 omitted) $141 $100 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2030 Fund Class Z6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.70 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .05 
Net realized and unrealized gain (loss) (.69) (.09)C 
Total from investment operations (.50) (.04) 
Distributions from net investment income (.18) (.14) 
Distributions from net realized gain (.17) (.12) 
Total distributions (.35) (.26) 
Net asset value, end of period $8.85 $9.70 
Total ReturnD (5.72)% (.11)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .33%G .32%H 
Expenses net of fee waivers, if any .33%G .32%H 
Expenses net of all reductions .33%G .32%H 
Net investment income (loss) 2.01% .85%H 
Supplemental Data   
Net assets, end of period (000 omitted) $3,925 $368 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 H Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 12.6 
Fidelity Series Emerging Markets Opportunities Fund 10.3 
Fidelity Series Blue Chip Growth Fund 8.7 
Fidelity Series Large Cap Stock Fund 6.8 
Fidelity Series Large Cap Growth Index Fund 6.5 
Fidelity Series International Growth Fund 6.2 
Fidelity Series International Value Fund 6.0 
Fidelity Series Overseas Fund 5.9 
Fidelity Series Value Discovery Fund 3.9 
Fidelity Series Commodity Strategy Fund 3.4 
 70.3 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 45.3% 
   International Equity Funds 35.9% 
   Bond Funds 15.0% 
   Short-Term Funds 3.8% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 45.3%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 4,155,436 $53,605,125 
Fidelity Series Commodity Strategy Fund (a) 5,699,315 20,802,498 
Fidelity Series Large Cap Growth Index Fund (a) 3,977,592 39,935,026 
Fidelity Series Large Cap Stock Fund (a) 3,459,713 41,481,954 
Fidelity Series Large Cap Value Index Fund (a) 8,021,041 77,082,200 
Fidelity Series Small Cap Opportunities Fund (a) 2,024,969 20,553,439 
Fidelity Series Value Discovery Fund (a) 2,428,561 24,115,610 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $334,122,246)  277,575,852 
International Equity Funds - 35.9%   
Fidelity Series Canada Fund (a) 1,562,867 12,956,167 
Fidelity Series Emerging Markets Fund (a) 964,902 6,831,507 
Fidelity Series Emerging Markets Opportunities Fund (a) 4,037,172 62,858,766 
Fidelity Series International Growth Fund (a) 2,631,880 38,109,618 
Fidelity Series International Index Fund (a) 1,802,752 14,782,569 
Fidelity Series International Small Cap Fund (a) 850,954 11,377,259 
Fidelity Series International Value Fund (a) 5,105,552 36,453,641 
Fidelity Series Overseas Fund (a) 4,184,094 36,192,417 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $263,704,307)  219,561,944 
Bond Funds - 15.0%   
Fidelity Series Corporate Bond Fund (a) 999,150 10,151,361 
Fidelity Series Emerging Markets Debt Fund (a) 511,206 4,120,323 
Fidelity Series Floating Rate High Income Fund (a) 113,580 913,185 
Fidelity Series Government Bond Index Fund (a) 1,404,632 15,858,297 
Fidelity Series High Income Fund (a) 564,235 4,649,299 
Fidelity Series Inflation-Protected Bond Index Fund (a) 1,353,904 13,647,353 
Fidelity Series Investment Grade Bond Fund (a) 1,226,028 14,136,106 
Fidelity Series Investment Grade Securitized Fund (a) 1,027,385 10,828,640 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 1,427,448 15,259,420 
Fidelity Series Real Estate Income Fund (a) 300,067 2,526,561 
TOTAL BOND FUNDS   
(Cost $90,467,979)  92,090,545 
Short-Term Funds - 3.8%   
Fidelity Cash Central Fund 0.29% (b) 49 49 
Fidelity Series Government Money Market Fund 0.4% (a)(c) 5,905,521 5,905,521 
Fidelity Series Short-Term Credit Fund (a) 142,325 1,406,173 
Fidelity Series Treasury Bill Index Fund (a) 1,606,790 16,132,168 
TOTAL SHORT-TERM FUNDS   
(Cost $23,428,091)  23,443,911 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $711,722,623)  612,672,252 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (8,014) 
NET ASSETS - 100%  $612,664,238 

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 $2,811,838 $78,758,641 $20,627,999 $6,338,299 $(306,927) $(7,030,428) $53,605,125 
Fidelity Series Canada Fund 226,889 16,676,191 268,113 164,429 (714) (3,678,086) 12,956,167 
Fidelity Series Commodity Strategy Fund 579,664 31,088,722 4,615,902 318,307 (811,824) (5,438,162) 20,802,498 
Fidelity Series Corporate Bond Fund 165,558 11,745,216 1,371,649 273,858 (13,996) (373,768) 10,151,361 
Fidelity Series Emerging Markets Debt Fund 175,349 5,047,765 327,269 227,493 (8,675) (766,847) 4,120,323 
Fidelity Series Emerging Markets Fund 233,552 9,505,911 500,136 173,377 (37,309) (2,370,511) 6,831,507 
Fidelity Series Emerging Markets Opportunities Fund 2,118,088 77,553,868 3,186,168 1,738,235 (261,279) (13,365,743) 62,858,766 
Fidelity Series Floating Rate High Income Fund 37,584 1,082,446 67,597 48,523 (1,751) (137,497) 913,185 
Fidelity Series Government Bond Index Fund 229,478 16,558,565 2,059,867 238,261 9,817 1,120,304 15,858,297 
Fidelity Series Government Money Market Fund 0.4% 104,467 11,427,037 5,625,983 34,057 -- -- 5,905,521 
Fidelity Series High Income Fund 290,850 5,431,801 400,848 274,722 (9,801) (662,703) 4,649,299 
Fidelity Series Inflation-Protected Bond Index Fund 75,084 15,533,173 2,013,626 164,957 4,976 47,746 13,647,353 
Fidelity Series International Growth Fund 1,896,017 54,660,240 16,065,150 1,751,751 (61,369) (2,320,120) 38,109,618 
Fidelity Series International Index Fund 497,781 18,369,996 770,047 315,068 (83,876) (3,231,285) 14,782,569 
Fidelity Series International Small Cap Fund 496,953 16,243,735 2,946,417 615,835 (300,313) (2,116,699) 11,377,259 
Fidelity Series International Value Fund 1,875,003 54,883,554 8,677,147 1,943,583 (386,838) (11,240,931) 36,453,641 
Fidelity Series Investment Grade Bond Fund 242,753 17,252,209 3,429,418 304,427 (59,528) 130,090 14,136,106 
Fidelity Series Investment Grade Securitized Fund 170,816 11,868,002 1,442,483 266,668 (1,846) 234,151 10,828,640 
Fidelity Series Large Cap Growth Index Fund 2,202,137 58,507,760 20,263,711 635,861 96,884 (608,044) 39,935,026 
Fidelity Series Large Cap Stock Fund 2,190,163 59,489,052 10,713,913 3,116,709 (43,114) (9,440,234) 41,481,954 
Fidelity Series Large Cap Value Index Fund 4,101,247 114,400,933 18,646,335 5,957,967 (263,516) (22,510,129) 77,082,200 
Fidelity Series Long-Term Treasury Bond Index Fund 1,439,204 37,466,007 28,706,509 1,728,667 2,352,233 2,708,485 15,259,420 
Fidelity Series Overseas Fund -- 42,494,302 -- 98,351 -- (6,301,885) 36,192,417 
Fidelity Series Real Estate Income Fund 118,319 3,415,439 232,222 164,779 (6,444) (768,531) 2,526,561 
Fidelity Series Short-Term Credit Fund 104,961 2,917,620 1,608,087 37,946 12,501 (20,822) 1,406,173 
Fidelity Series Small Cap Opportunities Fund 1,094,072 30,191,649 4,339,003 1,513,267 (96,944) (6,296,335) 20,553,439 
Fidelity Series Treasury Bill Index Fund 276,660 20,831,519 5,016,014 98,487 4,121 35,882 16,132,168 
Fidelity Series Value Discovery Fund 1,297,630 35,549,675 6,317,647 1,400,176 (99,880) (6,314,168) 24,115,610 
 $25,052,117 $858,951,028 $170,239,260 $29,944,060 $(375,412) $(100,716,270) $612,672,203 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $49) $49  
Other affiliated issuers (cost $711,722,574) 612,672,203  
Total Investment in Securities (cost $711,722,623)  $612,672,252 
Cash  506 
Receivable for investments sold  406,711 
Receivable for fund shares sold  734,738 
Total assets  613,814,207 
Liabilities   
Payable for investments purchased $154  
Payable for fund shares redeemed 973,315  
Accrued management fee 175,973  
Distribution and service plan fees payable 527  
Total liabilities  1,149,969 
Net Assets  $612,664,238 
Net Assets consist of:   
Paid in capital  $707,157,980 
Total accumulated earnings (loss)  (94,493,742) 
Net Assets  $612,664,238 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($790,211 ÷ 93,365 shares)(a)  $8.46 
Maximum offering price per share (100/94.25 of $8.46)  $8.98 
Class M:   
Net Asset Value and redemption price per share ($290,611 ÷ 34,364 shares)(a)  $8.46 
Maximum offering price per share (100/96.50 of $8.46)  $8.77 
Class C:   
Net Asset Value and offering price per share ($273,984 ÷ 32,475 shares)(a)  $8.44 
Fidelity Freedom Blend 2035 Fund:   
Net Asset Value, offering price and redemption price per share ($14,671,874 ÷ 1,730,321 shares)  $8.48 
Class K:   
Net Asset Value, offering price and redemption price per share ($15,999,864 ÷ 1,886,171 shares)  $8.48 
Class K6:   
Net Asset Value, offering price and redemption price per share ($572,454,956 ÷ 67,361,405 shares)  $8.50 
Class I:   
Net Asset Value, offering price and redemption price per share ($5,807,449 ÷ 685,177 shares)  $8.48 
Class Z:   
Net Asset Value, offering price and redemption price per share ($227,766 ÷ 26,829 shares)  $8.49 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($2,147,523 ÷ 252,773 shares)  $8.50 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $13,436,712 
Expenses   
Management fee $1,954,120  
Distribution and service plan fees 5,749  
Independent trustees' fees and expenses 1,927  
Total expenses  1,961,796 
Net investment income (loss)  11,474,916 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers (375,053)  
Capital gain distributions from underlying funds:   
Affiliated issuers 16,507,348  
Total net realized gain (loss)  16,132,295 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (100,716,270)  
Total change in net unrealized appreciation (depreciation)  (100,716,270) 
Net gain (loss)  (84,583,975) 
Net increase (decrease) in net assets resulting from operations  $(73,109,059) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 For the period
August 31, 2018 (commencement of operations) to March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $11,474,916 $24,035 
Net realized gain (loss) 16,132,295 2,831 
Change in net unrealized appreciation (depreciation) (100,716,270) 1,665,899 
Net increase (decrease) in net assets resulting from operations (73,109,059) 1,692,765 
Distributions to shareholders (23,043,735) (33,713) 
Share transactions - net increase (decrease) 683,771,373 23,386,607 
Total increase (decrease) in net assets 587,618,579 25,045,659 
Net Assets   
Beginning of period 25,045,659 – 
End of period $612,664,238 $25,045,659 

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, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.60 $10.00 
Income from Investment Operations   
Net investment income (loss)B .15 C 
Net realized and unrealized gain (loss) (.94) (.15)D 
Total from investment operations (.79) (.15) 
Distributions from net investment income (.17) (.14) 
Distributions from net realized gain (.19) (.12) 
Total distributions (.35)E (.25)F 
Net asset value, end of period $8.46 $9.60 
Total ReturnG,H (8.89)% (1.18)% 
Ratios to Average Net AssetsI,J   
Expenses before reductions .78% .79%K,L 
Expenses net of fee waivers, if any .78% .79%K,L 
Expenses net of all reductions .78% .79%K,L 
Net investment income (loss) 1.52% .09%K 
Supplemental Data   
Net assets, end of period (000 omitted) $790 $357 
Portfolio turnover rateJ 31% 16%K 

 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 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.

 E Total distributions of $.35 per share is comprised of distributions from net investment income of $.167 and distributions from net realized gain of $.186 per share.

 F Total distributions of $.25 per share is comprised of distributions from net investment income of $.136 and distributions from net realized gain of $.116 per share.

 G Total returns for periods of less than one year are not annualized.

 H Total returns do not include the effect of the sales charges.

 I Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 J Amounts do not include the activity of Underlying Funds.

 K Annualized

 L On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2035 Fund Class M

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.59 $10.00 
Income from Investment Operations   
Net investment income (loss)B .13 (.01) 
Net realized and unrealized gain (loss) (.94) (.15)C 
Total from investment operations (.81) (.16) 
Distributions from net investment income (.14) (.13) 
Distributions from net realized gain (.19) (.12) 
Total distributions (.32)D (.25) 
Net asset value, end of period $8.46 $9.59 
Total ReturnE,F (9.06)% (1.30)% 
Ratios to Average Net AssetsG,H   
Expenses before reductions 1.03% 1.03%I 
Expenses net of fee waivers, if any 1.03% 1.03%I 
Expenses net of all reductions 1.03% 1.03%I 
Net investment income (loss) 1.27% (.16)%I 
Supplemental Data   
Net assets, end of period (000 omitted) $291 $177 
Portfolio turnover rateH 31% 16%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 distributions of $.32 per share is comprised of distributions from net investment income of $.136 and distributions from net realized gain of $.186 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2035 Fund Class C

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.59 $10.00 
Income from Investment Operations   
Net investment income (loss)B .08 (.04) 
Net realized and unrealized gain (loss) (.94) (.14)C 
Total from investment operations (.86) (.18) 
Distributions from net investment income (.10) (.11) 
Distributions from net realized gain (.19) (.12) 
Total distributions (.29) (.23) 
Net asset value, end of period $8.44 $9.59 
Total ReturnD,E (9.54)% (1.56)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions 1.53% 1.54%H,I 
Expenses net of fee waivers, if any 1.53% 1.54%H,I 
Expenses net of all reductions 1.53% 1.54%H,I 
Net investment income (loss) .77% (.67)%H 
Supplemental Data   
Net assets, end of period (000 omitted) $274 $207 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2035 Fund

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.61 $10.00 
Income from Investment Operations   
Net investment income (loss)B .17 .02 
Net realized and unrealized gain (loss) (.94) (.15)C 
Total from investment operations (.77) (.13) 
Distributions from net investment income (.18) (.15) 
Distributions from net realized gain (.19) (.12) 
Total distributions (.36)D (.26)E 
Net asset value, end of period $8.48 $9.61 
Total ReturnF (8.68)% (.96)% 
Ratios to Average Net AssetsG,H   
Expenses before reductions .54%I .53%J 
Expenses net of fee waivers, if any .54%I .53%J 
Expenses net of all reductions .54%I .53%J 
Net investment income (loss) 1.76% .34%J 
Supplemental Data   
Net assets, end of period (000 omitted) $14,672 $984 
Portfolio turnover rateH 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 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 distributions of $.36 per share is comprised of distributions from net investment income of $.178 and distributions from net realized gain of $.186 per share.

 E Total distributions of $.26 per share is comprised of distributions from net investment income of $.146 and distributions from net realized gain of $.116 per share.

 F Total returns for periods of less than one year are not annualized.

 G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 J Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2035 Fund Class K

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.61 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .02 
Net realized and unrealized gain (loss) (.94) (.15)C 
Total from investment operations (.75) (.13) 
Distributions from net investment income (.19) (.15) 
Distributions from net realized gain (.19) (.12) 
Total distributions (.38) (.26)D 
Net asset value, end of period $8.48 $9.61 
Total ReturnE (8.56)% (.97)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .43% .43%H 
Expenses net of fee waivers, if any .43% .43%H 
Expenses net of all reductions .43% .43%H 
Net investment income (loss) 1.87% .44%H 
Supplemental Data   
Net assets, end of period (000 omitted) $16,000 $99 
Portfolio turnover rateG 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 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 distributions of $.26 per share is comprised of distributions from net investment income of $.145 and distributions from net realized gain of $.116 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2035 Fund Class K6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.61 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .03 
Net realized and unrealized gain (loss) (.94) (.15)C 
Total from investment operations (.74) (.12) 
Distributions from net investment income (.18) (.15) 
Distributions from net realized gain (.19) (.12) 
Total distributions (.37) (.27) 
Net asset value, end of period $8.50 $9.61 
Total ReturnD (8.41)% (.93)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .33% .34%G,H 
Expenses net of fee waivers, if any .33% .34%G,H 
Expenses net of all reductions .33% .34%G,H 
Net investment income (loss) 1.97% .54%G 
Supplemental Data   
Net assets, end of period (000 omitted) $572,455 $22,910 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2035 Fund Class I

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.61 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .02 
Net realized and unrealized gain (loss) (.94) (.15)C 
Total from investment operations (.76) (.13) 
Distributions from net investment income (.19) (.14) 
Distributions from net realized gain (.19) (.12) 
Total distributions (.37)D (.26) 
Net asset value, end of period $8.48 $9.61 
Total ReturnE (8.60)% (1.01)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .54%H .53%I 
Expenses net of fee waivers, if any .54%H .53%I 
Expenses net of all reductions .54%H .53%I 
Net investment income (loss) 1.76% .34%I 
Supplemental Data   
Net assets, end of period (000 omitted) $5,807 $108 
Portfolio turnover rateG 31% 16%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 distributions of $.37 per share is comprised of distributions from net investment income of $.187 and distributions from net realized gain of $.186 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2035 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.61 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .02 
Net realized and unrealized gain (loss) (.94) (.15)C 
Total from investment operations (.75) (.13) 
Distributions from net investment income (.18) (.15) 
Distributions from net realized gain (.19) (.12) 
Total distributions (.37) (.26)D 
Net asset value, end of period $8.49 $9.61 
Total ReturnE (8.52)% (.97)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .43% .43%H 
Expenses net of fee waivers, if any .43% .43%H 
Expenses net of all reductions .43% .43%H 
Net investment income (loss) 1.87% .44%H 
Supplemental Data   
Net assets, end of period (000 omitted) $228 $103 
Portfolio turnover rateG 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 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 distributions of $.26 per share is comprised of distributions from net investment income of $.145 and distributions from net realized gain of $.116 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2035 Fund Class Z6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.62 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .03 
Net realized and unrealized gain (loss) (.93) (.14)C 
Total from investment operations (.75) (.11) 
Distributions from net investment income (.19) (.15) 
Distributions from net realized gain (.19) (.12) 
Total distributions (.37)D (.27) 
Net asset value, end of period $8.50 $9.62 
Total ReturnE (8.48)% (.83)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .34%H .33%I 
Expenses net of fee waivers, if any .34%H .33%I 
Expenses net of all reductions .34%H .33%I 
Net investment income (loss) 1.96% .54%I 
Supplemental Data   
Net assets, end of period (000 omitted) $2,148 $99 
Portfolio turnover rateG 31% 16%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 distributions of $.37 per share is comprised of distributions from net investment income of $.188 and distributions from net realized gain of $.186 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 14.0 
Fidelity Series Emerging Markets Opportunities Fund 11.1 
Fidelity Series Blue Chip Growth Fund 9.7 
Fidelity Series Large Cap Stock Fund 7.6 
Fidelity Series Large Cap Growth Index Fund 7.3 
Fidelity Series International Growth Fund 6.8 
Fidelity Series International Value Fund 6.5 
Fidelity Series Overseas Fund 6.5 
Fidelity Series Value Discovery Fund 4.4 
Fidelity Series Small Cap Opportunities Fund 3.7 
 77.6 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.1% 
   International Equity Funds 39.1% 
   Bond Funds 7.0% 
   Short-Term Funds 3.8% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 50.1%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 4,131,438 $53,295,544 
Fidelity Series Commodity Strategy Fund (a) 5,096,619 18,602,659 
Fidelity Series Large Cap Growth Index Fund (a) 3,962,777 39,786,276 
Fidelity Series Large Cap Stock Fund (a) 3,453,223 41,404,147 
Fidelity Series Large Cap Value Index Fund (a) 7,981,616 76,703,329 
Fidelity Series Small Cap Opportunities Fund (a) 2,021,558 20,518,813 
Fidelity Series Value Discovery Fund (a) 2,423,341 24,063,777 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $330,643,990)  274,374,545 
International Equity Funds - 39.1%   
Fidelity Series Canada Fund (a) 1,539,859 12,765,429 
Fidelity Series Emerging Markets Fund (a) 933,945 6,612,327 
Fidelity Series Emerging Markets Opportunities Fund (a) 3,909,506 60,871,006 
Fidelity Series International Growth Fund (a) 2,560,527 37,076,431 
Fidelity Series International Index Fund (a) 1,776,672 14,568,713 
Fidelity Series International Small Cap Fund (a) 826,339 11,048,153 
Fidelity Series International Value Fund (a) 4,992,674 35,647,691 
Fidelity Series Overseas Fund (a) 4,102,268 35,484,619 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $257,422,146)  214,074,369 
Bond Funds - 7.0%   
Fidelity Series Corporate Bond Fund (a) 16,222 164,811 
Fidelity Series Emerging Markets Debt Fund (a) 463,442 3,735,342 
Fidelity Series Floating Rate High Income Fund (a) 103,114 829,033 
Fidelity Series Government Bond Index Fund (a) 22,250 251,199 
Fidelity Series High Income Fund (a) 510,452 4,206,121 
Fidelity Series Inflation-Protected Bond Index Fund (a) 1,240,612 12,505,366 
Fidelity Series Investment Grade Bond Fund (a) 21,554 248,523 
Fidelity Series Investment Grade Securitized Fund (a) 16,338 172,200 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 1,310,867 14,013,171 
Fidelity Series Real Estate Income Fund (a) 272,263 2,292,455 
TOTAL BOND FUNDS   
(Cost $37,984,021)  38,418,221 
Short-Term Funds - 3.8%   
Fidelity Cash Central Fund 0.29% (b) 49 49 
Fidelity Series Government Money Market Fund 0.4% (a)(c) 5,078,540 5,078,540 
Fidelity Series Short-Term Credit Fund (a) 133,802 1,321,969 
Fidelity Series Treasury Bill Index Fund (a) 1,451,575 14,573,808 
TOTAL SHORT-TERM FUNDS   
(Cost $20,962,036)  20,974,366 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $647,012,193)  547,841,501 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (7,709) 
NET ASSETS - 100%  $547,833,792 

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 $1,998,090 $76,570,449 $18,031,799 $6,150,554 $(251,641) $(6,989,555) $53,295,544 
Fidelity Series Canada Fund 159,217 16,499,404 239,114 160,232 (516) (3,653,562) 12,765,429 
Fidelity Series Commodity Strategy Fund 415,759 27,754,738 3,928,569 287,306 (692,209) (4,947,060) 18,602,659 
Fidelity Series Corporate Bond Fund 30,666 1,147,609 1,057,237 16,542 54,920 (11,147) 164,811 
Fidelity Series Emerging Markets Debt Fund 110,026 4,624,292 296,148 205,157 (6,144) (696,684) 3,735,342 
Fidelity Series Emerging Markets Fund 162,633 9,194,002 434,128 166,428 (28,168) (2,282,012) 6,612,327 
Fidelity Series Emerging Markets Opportunities Fund 1,473,485 75,229,728 2,632,291 1,668,556 (200,105) (12,999,811) 60,871,006 
Fidelity Series Floating Rate High Income Fund 24,892 990,512 60,361 43,768 (1,200) (124,810) 829,033 
Fidelity Series Government Bond Index Fund 42,493 1,702,201 1,559,342 13,622 60,608 5,239 251,199 
Fidelity Series Government Money Market Fund 0.4% 43,149 9,920,726 4,885,336 23,922 -- 5,078,540 
Fidelity Series High Income Fund 190,074 4,963,758 339,053 247,682 (8,527) (600,131) 4,206,121 
Fidelity Series Inflation-Protected Bond Index Fund 50,098 14,037,314 1,605,121 148,520 8,947 14,128 12,505,366 
Fidelity Series International Growth Fund 1,337,893 53,290,310 15,195,753 1,707,963 (18,579) (2,337,440) 37,076,431 
Fidelity Series International Index Fund 350,998 18,122,439 649,626 307,028 (61,222) (3,193,876) 14,568,713 
Fidelity Series International Small Cap Fund 350,456 15,959,362 2,907,055 600,282 (318,994) (2,035,616) 11,048,153 
Fidelity Series International Value Fund 1,318,353 53,868,114 8,216,245 1,894,846 (319,289) (11,003,242) 35,647,691 
Fidelity Series Investment Grade Bond Fund 44,963 1,779,052 1,624,717 18,617 55,202 (5,977) 248,523 
Fidelity Series Investment Grade Securitized Fund 31,635 1,189,753 1,072,126 14,393 21,670 1,268 172,200 
Fidelity Series Large Cap Growth Index Fund 1,563,974 57,106,657 18,278,990 625,881 9,283 (614,648) 39,786,276 
Fidelity Series Large Cap Stock Fund 1,559,358 58,540,902 9,244,051 3,048,436 222 (9,452,284) 41,404,147 
Fidelity Series Large Cap Value Index Fund 2,920,032 112,068,781 15,533,293 5,872,344 (218,579) (22,533,612) 76,703,329 
Fidelity Series Long-Term Treasury Bond Index Fund 590,091 24,456,122 14,199,045 1,434,548 656,363 2,509,640 14,013,171 
Fidelity Series Overseas Fund -- 41,691,417 -- 95,901 -- (6,206,798) 35,484,619 
Fidelity Series Real Estate Income Fund 78,110 3,125,016 208,186 148,123 (3,866) (698,619) 2,292,455 
Fidelity Series Short-Term Credit Fund 43,158 1,767,466 469,803 28,252 1,311 (20,163) 1,321,969 
Fidelity Series Small Cap Opportunities Fund 778,965 29,866,948 3,780,505 1,462,076 (80,727) (6,265,868) 20,518,813 
Fidelity Series Treasury Bill Index Fund 105,090 17,540,845 3,105,612 68,227 1,346 32,139 14,573,808 
Fidelity Series Value Discovery Fund 923,901 34,996,029 5,446,774 1,379,587 (100,252) (6,309,127) 24,063,777 
 $16,697,559 $768,003,946 $135,000,280 $27,838,793 $(1,440,146) $(100,419,627) $547,841,452 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $49) $49  
Other affiliated issuers (cost $647,012,144) 547,841,452  
Total Investment in Securities (cost $647,012,193)  $547,841,501 
Cash  207 
Receivable for investments sold  154,353 
Receivable for fund shares sold  720,422 
Total assets  548,716,483 
Liabilities   
Payable for investments purchased $335,923  
Payable for fund shares redeemed 384,254  
Accrued management fee 161,948  
Distribution and service plan fees payable 566  
Total liabilities  882,691 
Net Assets  $547,833,792 
Net Assets consist of:   
Paid in capital  $642,636,885 
Total accumulated earnings (loss)  (94,803,093) 
Net Assets  $547,833,792 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($694,764 ÷ 83,960 shares)(a)  $8.27 
Maximum offering price per share (100/94.25 of $8.27)  $8.77 
Class M:   
Net Asset Value and redemption price per share ($318,319 ÷ 38,443 shares)(a)  $8.28 
Maximum offering price per share (100/96.50 of $8.28)  $8.58 
Class C:   
Net Asset Value and offering price per share ($356,620 ÷ 43,243 shares)(a)  $8.25 
Fidelity Freedom Blend 2040 Fund:   
Net Asset Value, offering price and redemption price per share ($15,147,150 ÷ 1,826,477 shares)  $8.29 
Class K:   
Net Asset Value, offering price and redemption price per share ($15,212,476 ÷ 1,832,587 shares)  $8.30 
Class K6:   
Net Asset Value, offering price and redemption price per share ($510,438,737 ÷ 61,372,291 shares)  $8.32 
Class I:   
Net Asset Value, offering price and redemption price per share ($4,049,433 ÷ 488,167 shares)  $8.30 
Class Z:   
Net Asset Value, offering price and redemption price per share ($88,731 ÷ 10,668 shares)  $8.32 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($1,527,562 ÷ 183,522 shares)  $8.32 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $11,964,073 
Expenses   
Management fee $1,813,936  
Distribution and service plan fees 5,218  
Independent trustees' fees and expenses 1,737  
Total expenses  1,820,891 
Net investment income (loss)  10,143,182 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers (1,440,088)  
Capital gain distributions from underlying funds:   
Affiliated issuers 15,874,720  
Total net realized gain (loss)  14,434,632 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (100,419,627)  
Total change in net unrealized appreciation (depreciation)  (100,419,627) 
Net gain (loss)  (85,984,995) 
Net increase (decrease) in net assets resulting from operations  $(75,841,813) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 For the period
August 31, 2018 (commencement of operations) to March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $10,143,182 $14,391 
Net realized gain (loss) 14,434,632 (17,231) 
Change in net unrealized appreciation (depreciation) (100,419,627) 1,248,935 
Net increase (decrease) in net assets resulting from operations (75,841,813) 1,246,095 
Distributions to shareholders (20,176,064) (31,311) 
Share transactions - net increase (decrease) 627,158,598 15,478,287 
Total increase (decrease) in net assets 531,140,721 16,693,071 
Net Assets   
Beginning of period 16,693,071 – 
End of period $547,833,792 $16,693,071 

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, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.55 $10.00 
Income from Investment Operations   
Net investment income (loss)B .15 C 
Net realized and unrealized gain (loss) (1.09) (.17)D 
Total from investment operations (.94) (.17) 
Distributions from net investment income (.17) (.14) 
Distributions from net realized gain (.17) (.14) 
Total distributions (.34) (.28) 
Net asset value, end of period $8.27 $9.55 
Total ReturnE,F (10.57)% (1.39)% 
Ratios to Average Net AssetsG,H   
Expenses before reductions .79% .80%I,J 
Expenses net of fee waivers, if any .79% .80%I,J 
Expenses net of all reductions .79% .80%I,J 
Net investment income (loss) 1.48% .01%I 
Supplemental Data   
Net assets, end of period (000 omitted) $695 $255 
Portfolio turnover rateH 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 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.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

 J On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2040 Fund Class M

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.55 $10.00 
Income from Investment Operations   
Net investment income (loss)B .12 (.01) 
Net realized and unrealized gain (loss) (1.08) (.18)C 
Total from investment operations (.96) (.19) 
Distributions from net investment income (.14) (.12) 
Distributions from net realized gain (.17) (.14) 
Total distributions (.31) (.26) 
Net asset value, end of period $8.28 $9.55 
Total ReturnD,E (10.74)% (1.59)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions 1.04% 1.04%H 
Expenses net of fee waivers, if any 1.04% 1.04%H 
Expenses net of all reductions 1.04% 1.04%H 
Net investment income (loss) 1.23% (.23)%H 
Supplemental Data   
Net assets, end of period (000 omitted) $318 $131 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2040 Fund Class C

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.54 $10.00 
Income from Investment Operations   
Net investment income (loss)B .07 (.04) 
Net realized and unrealized gain (loss) (1.07) (.18)C 
Total from investment operations (1.00) (.22) 
Distributions from net investment income (.12) (.11) 
Distributions from net realized gain (.17) (.14) 
Total distributions (.29) (.24)D 
Net asset value, end of period $8.25 $9.54 
Total ReturnE,F (11.10)% (1.88)% 
Ratios to Average Net AssetsG,H   
Expenses before reductions 1.54% 1.55%I,J 
Expenses net of fee waivers, if any 1.54% 1.55%I,J 
Expenses net of all reductions 1.54% 1.55%I,J 
Net investment income (loss) .73% (.74)%I 
Supplemental Data   
Net assets, end of period (000 omitted) $357 $208 
Portfolio turnover rateH 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 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 distributions of $.24 per share is comprised of distributions from net investment income of $.106 and distributions from net realized gain of $.136 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

 J On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2040 Fund

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.55 $10.00 
Income from Investment Operations   
Net investment income (loss)B .16 .01 
Net realized and unrealized gain (loss) (1.06) (.18)C 
Total from investment operations (.90) (.17) 
Distributions from net investment income (.18) (.14) 
Distributions from net realized gain (.17) (.14) 
Total distributions (.36)D (.28) 
Net asset value, end of period $8.29 $9.55 
Total ReturnE (10.24)% (1.35)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .55%H .54%I 
Expenses net of fee waivers, if any .55%H .54%I 
Expenses net of all reductions .55%H .54%I 
Net investment income (loss) 1.72% .27%I 
Supplemental Data   
Net assets, end of period (000 omitted) $15,147 $590 
Portfolio turnover rateG 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 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 distributions of $.36 per share is comprised of distributions from net investment income of $.182 and distributions from net realized gain of $.173 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2040 Fund Class K

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.57 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .02 
Net realized and unrealized gain (loss) (1.08) (.17)C 
Total from investment operations (.90) (.15) 
Distributions from net investment income (.19) (.14) 
Distributions from net realized gain (.17) (.14) 
Total distributions (.37)D (.28) 
Net asset value, end of period $8.30 $9.57 
Total ReturnE (10.22)% (1.19)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .44% .44%H 
Expenses net of fee waivers, if any .44% .44%H 
Expenses net of all reductions .44% .44%H 
Net investment income (loss) 1.83% .37%H 
Supplemental Data   
Net assets, end of period (000 omitted) $15,212 $99 
Portfolio turnover rateG 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 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 distributions of $.37 per share is comprised of distributions from net investment income of $.194 and distributions from net realized gain of $.173 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2040 Fund Class K6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.57 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .02 
Net realized and unrealized gain (loss) (1.08) (.17)C 
Total from investment operations (.89) (.15) 
Distributions from net investment income (.18) (.14) 
Distributions from net realized gain (.18) (.14) 
Total distributions (.36) (.28) 
Net asset value, end of period $8.32 $9.57 
Total ReturnD (10.07)% (1.14)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .34% .35%G,H 
Expenses net of fee waivers, if any .34% .35%G,H 
Expenses net of all reductions .34% .35%G,H 
Net investment income (loss) 1.93% .46%G 
Supplemental Data   
Net assets, end of period (000 omitted) $510,439 $14,956 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2040 Fund Class I

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.56 $10.00 
Income from Investment Operations   
Net investment income (loss)B .17 .01 
Net realized and unrealized gain (loss) (1.07) (.18)C 
Total from investment operations (.90) (.17) 
Distributions from net investment income (.19) (.14) 
Distributions from net realized gain (.17) (.14) 
Total distributions (.36) (.27)D 
Net asset value, end of period $8.30 $9.56 
Total ReturnE (10.17)% (1.33)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .55%H .54%I 
Expenses net of fee waivers, if any .55%H .54%I 
Expenses net of all reductions .55%H .54%I 
Net investment income (loss) 1.73% .27%I 
Supplemental Data   
Net assets, end of period (000 omitted) $4,049 $100 
Portfolio turnover rateG 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 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 distributions of $.27 per share is comprised of distributions from net investment income of $.137 and distributions from net realized gain of $.136 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2040 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.57 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .02 
Net realized and unrealized gain (loss) (1.08) (.17)C 
Total from investment operations (.90) (.15) 
Distributions from net investment income (.17) (.14) 
Distributions from net realized gain (.17) (.14) 
Total distributions (.35)D (.28) 
Net asset value, end of period $8.32 $9.57 
Total ReturnE (10.17)% (1.19)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .44% .44%H 
Expenses net of fee waivers, if any .44% .44%H 
Expenses net of all reductions .44% .44%H 
Net investment income (loss) 1.83% .37%H 
Supplemental Data   
Net assets, end of period (000 omitted) $89 $99 
Portfolio turnover rateG 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 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 distributions of $.35 per share is comprised of distributions from net investment income of $.174 and distributions from net realized gain of $.173 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2040 Fund Class Z6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.57 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .03 
Net realized and unrealized gain (loss) (1.08) (.18)C 
Total from investment operations (.90) (.15) 
Distributions from net investment income (.18) (.14) 
Distributions from net realized gain (.17) (.14) 
Total distributions (.35) (.28) 
Net asset value, end of period $8.32 $9.57 
Total ReturnD (10.14)% (1.14)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .35%G .34%H 
Expenses net of fee waivers, if any .35%G .34%H 
Expenses net of all reductions .35%G .34%H 
Net investment income (loss) 1.92% .47%H 
Supplemental Data   
Net assets, end of period (000 omitted) $1,528 $256 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 H Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 14.0 
Fidelity Series Emerging Markets Opportunities Fund 11.1 
Fidelity Series Blue Chip Growth Fund 9.7 
Fidelity Series Large Cap Stock Fund 7.6 
Fidelity Series Large Cap Growth Index Fund 7.3 
Fidelity Series International Growth Fund 6.8 
Fidelity Series International Value Fund 6.5 
Fidelity Series Overseas Fund 6.5 
Fidelity Series Value Discovery Fund 4.4 
Fidelity Series Small Cap Opportunities Fund 3.7 
 77.6 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.1% 
   International Equity Funds 39.1% 
   Bond Funds 7.0% 
   Short-Term Funds 3.8% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 50.1%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 3,519,267 $45,398,547 
Fidelity Series Commodity Strategy Fund (a) 4,341,884 15,847,876 
Fidelity Series Large Cap Growth Index Fund (a) 3,375,978 33,894,819 
Fidelity Series Large Cap Stock Fund (a) 2,941,409 35,267,491 
Fidelity Series Large Cap Value Index Fund (a) 6,799,100 65,339,354 
Fidelity Series Small Cap Opportunities Fund (a) 1,722,135 17,479,666 
Fidelity Series Value Discovery Fund (a) 2,064,422 20,499,714 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $281,691,030)  233,727,467 
International Equity Funds - 39.1%   
Fidelity Series Canada Fund (a) 1,312,106 10,877,362 
Fidelity Series Emerging Markets Fund (a) 795,704 5,633,587 
Fidelity Series Emerging Markets Opportunities Fund (a) 3,330,661 51,858,394 
Fidelity Series International Growth Fund (a) 2,180,153 31,568,620 
Fidelity Series International Index Fund (a) 1,513,129 12,407,656 
Fidelity Series International Small Cap Fund (a) 703,126 9,400,796 
Fidelity Series International Value Fund (a) 4,249,806 30,343,617 
Fidelity Series Overseas Fund (a) 3,500,751 30,281,498 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $219,221,116)  182,371,530 
Bond Funds - 7.0%   
Fidelity Series Corporate Bond Fund (a) 13,773 139,934 
Fidelity Series Emerging Markets Debt Fund (a) 394,900 3,182,890 
Fidelity Series Floating Rate High Income Fund (a) 87,837 706,212 
Fidelity Series Government Bond Index Fund (a) 18,881 213,162 
Fidelity Series High Income Fund (a) 434,817 3,582,891 
Fidelity Series Inflation-Protected Bond Index Fund (a) 1,055,989 10,644,373 
Fidelity Series Investment Grade Bond Fund (a) 18,311 211,130 
Fidelity Series Investment Grade Securitized Fund (a) 13,871 146,201 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 1,117,049 11,941,249 
Fidelity Series Real Estate Income Fund (a) 231,935 1,952,890 
TOTAL BOND FUNDS   
(Cost $32,344,881)  32,720,932 
Short-Term Funds - 3.8%   
Fidelity Cash Central Fund 0.29% (b) 49 49 
Fidelity Series Government Money Market Fund 0.4% (a)(c) 4,354,063 4,354,063 
Fidelity Series Short-Term Credit Fund (a) 112,303 1,109,555 
Fidelity Series Treasury Bill Index Fund (a) 1,235,418 12,403,593 
TOTAL SHORT-TERM FUNDS   
(Cost $17,856,461)  17,867,260 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $551,113,488)  466,687,189 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (6,925) 
NET ASSETS - 100%  $466,680,264 

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 $1,199,178 $65,270,733 $14,966,654 $5,191,359 $(226,941) $(5,877,769) $45,398,547 
Fidelity Series Canada Fund 95,692 14,041,124 166,905 136,293 (536) (3,092,013) 10,877,362 
Fidelity Series Commodity Strategy Fund 249,482 23,602,301 3,221,410 243,241 (588,705) (4,193,792) 15,847,876 
Fidelity Series Corporate Bond Fund 18,407 970,492 885,795 13,922 45,992 (9,162) 139,934 
Fidelity Series Emerging Markets Debt Fund 66,074 3,940,135 227,804 173,475 (6,203) (589,312) 3,182,890 
Fidelity Series Emerging Markets Fund 97,619 7,829,920 337,549 141,595 (25,227) (1,931,176) 5,633,587 
Fidelity Series Emerging Markets Opportunities Fund 884,347 64,119,232 1,963,966 1,419,591 (178,052) (11,003,167) 51,858,394 
Fidelity Series Floating Rate High Income Fund 15,020 844,205 46,072 37,002 (1,343) (105,598) 706,212 
Fidelity Series Government Bond Index Fund 25,506 1,438,890 1,306,744 11,462 50,930 4,580 213,162 
Fidelity Series Government Money Market Fund 0.4% 24,914 8,457,196 4,128,047 20,212 -- -- 4,354,063 
Fidelity Series High Income Fund 114,085 4,226,758 241,446 209,366 (7,956) (508,550) 3,582,891 
Fidelity Series Inflation-Protected Bond Index Fund 30,053 11,938,510 1,344,868 126,419 7,446 13,232 10,644,373 
Fidelity Series International Growth Fund 802,954 45,371,205 12,589,806 1,453,058 (42,056) (1,973,677) 31,568,620 
Fidelity Series International Index Fund 210,707 15,413,940 455,788 261,157 (56,080) (2,705,123) 12,407,656 
Fidelity Series International Small Cap Fund 210,381 13,571,864 2,381,347 510,597 (280,551) (1,719,551) 9,400,796 
Fidelity Series International Value Fund 791,791 45,857,901 6,697,899 1,611,972 (272,506) (9,335,670) 30,343,617 
Fidelity Series Investment Grade Bond Fund 26,988 1,504,574 1,361,873 15,665 46,224 (4,783) 211,130 
Fidelity Series Investment Grade Securitized Fund 18,989 1,006,167 898,281 12,117 18,124 1,202 146,201 
Fidelity Series Large Cap Growth Index Fund 938,629 48,675,989 15,200,110 532,101 14,668 (534,357) 33,894,819 
Fidelity Series Large Cap Stock Fund 935,872 49,786,399 7,435,589 2,574,001 (19,838) (7,999,353) 35,267,491 
Fidelity Series Large Cap Value Index Fund 1,752,511 95,393,118 12,470,674 4,996,083 (240,163) (19,095,438) 65,339,354 
Fidelity Series Long-Term Treasury Bond Index Fund 354,119 20,945,307 12,040,155 1,217,976 538,865 2,143,113 11,941,249 
Fidelity Series Overseas Fund -- 35,534,249 -- 81,635 -- (5,252,751) 30,281,498 
Fidelity Series Real Estate Income Fund 46,880 2,663,553 160,388 125,338 (5,089) (592,066) 1,952,890 
Fidelity Series Short-Term Credit Fund 24,919 1,490,461 390,151 23,844 1,011 (16,685) 1,109,555 
Fidelity Series Small Cap Opportunities Fund 467,510 25,448,851 3,062,133 1,233,738 (79,726) (5,294,836) 17,479,666 
Fidelity Series Treasury Bill Index Fund 64,069 14,920,050 2,608,943 57,658 1,127 27,290 12,403,593 
Fidelity Series Value Discovery Fund 554,496 29,792,628 4,401,364 1,173,667 (101,483) (5,344,563) 20,499,714 
 10,021,192 654,055,752 110,991,761 23,604,544 (1,408,068) (84,989,975) 466,687,140 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $49) $49  
Other affiliated issuers (cost $551,113,439) 466,687,140  
Total Investment in Securities (cost $551,113,488)  $466,687,189 
Cash  196 
Receivable for investments sold  131,027 
Receivable for fund shares sold  910,688 
Total assets  467,729,100 
Liabilities   
Payable for investments purchased $666,515  
Payable for fund shares redeemed 243,962  
Accrued management fee 137,486  
Distribution and service plan fees payable 873  
Total liabilities  1,048,836 
Net Assets  $466,680,264 
Net Assets consist of:   
Paid in capital  $547,480,072 
Total accumulated earnings (loss)  (80,799,808) 
Net Assets  $466,680,264 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($835,422 ÷ 100,835 shares)(a)  $8.29 
Maximum offering price per share (100/94.25 of $8.29)  $8.80 
Class M:   
Net Asset Value and redemption price per share ($1,119,574 ÷ 135,341 shares)(a)  $8.27 
Maximum offering price per share (100/96.50 of $8.27)  $8.57 
Class C:   
Net Asset Value and offering price per share ($260,636 ÷ 31,565 shares)(a)  $8.26 
Fidelity Freedom Blend 2045 Fund:   
Net Asset Value, offering price and redemption price per share ($10,681,973 ÷ 1,287,043 shares)  $8.30 
Class K:   
Net Asset Value, offering price and redemption price per share ($13,472,516 ÷ 1,622,810 shares)  $8.30 
Class K6:   
Net Asset Value, offering price and redemption price per share ($435,714,276 ÷ 52,370,576 shares)  $8.32 
Class I:   
Net Asset Value, offering price and redemption price per share ($3,395,446 ÷ 409,322 shares)  $8.30 
Class Z:   
Net Asset Value, offering price and redemption price per share ($92,187 ÷ 11,081 shares)  $8.32 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($1,108,234 ÷ 133,204 shares)  $8.32 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $10,157,314 
Expenses   
Management fee $1,533,726  
Distribution and service plan fees 5,656  
Independent trustees' fees and expenses 1,466  
Total expenses  1,540,848 
Net investment income (loss)  8,616,466 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers (1,408,019)  
Capital gain distributions from underlying funds:   
Affiliated issuers 13,447,230  
Total net realized gain (loss)  12,039,211 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (84,989,975)  
Total change in net unrealized appreciation (depreciation)  (84,989,975) 
Net gain (loss)  (72,950,764) 
Net increase (decrease) in net assets resulting from operations  $(64,334,298) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 For the period
August 31, 2018 (commencement of operations) to March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $8,616,466 $21,701 
Net realized gain (loss) 12,039,211 27,615 
Change in net unrealized appreciation (depreciation) (84,989,975) 563,676 
Net increase (decrease) in net assets resulting from operations (64,334,298) 612,992 
Distributions to shareholders (17,037,978) (39,877) 
Share transactions - net increase (decrease) 538,033,978 9,445,447 
Total increase (decrease) in net assets 456,661,702 10,018,562 
Net Assets   
Beginning of period 10,018,562 – 
End of period $466,680,264 $10,018,562 

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, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.55 $10.00 
Income from Investment Operations   
Net investment income (loss)B .15 .03 
Net realized and unrealized gain (loss) (1.07) (.22)C 
Total from investment operations (.92) (.19) 
Distributions from net investment income (.17) (.15) 
Distributions from net realized gain (.17) (.11) 
Total distributions (.34) (.26) 
Net asset value, end of period $8.29 $9.55 
Total ReturnD,E (10.38)% (1.56)% 
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) 1.49% .64%H 
Supplemental Data   
Net assets, end of period (000 omitted) $835 $253 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2045 Fund Class M

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.54 $10.00 
Income from Investment Operations   
Net investment income (loss)B .12 .02 
Net realized and unrealized gain (loss) (1.08) (.22)C 
Total from investment operations (.96) (.20) 
Distributions from net investment income (.14) (.15) 
Distributions from net realized gain (.17) (.11) 
Total distributions (.31) (.26) 
Net asset value, end of period $8.27 $9.54 
Total ReturnD,E (10.71)% (1.68)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions 1.05%H 1.04%I 
Expenses net of fee waivers, if any 1.05%H 1.04%I 
Expenses net of all reductions 1.05%H 1.04%I 
Net investment income (loss) 1.23% .39%I 
Supplemental Data   
Net assets, end of period (000 omitted) $1,120 $160 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2045 Fund Class C

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.54 $10.00 
Income from Investment Operations   
Net investment income (loss)B .07 (.01) 
Net realized and unrealized gain (loss) (1.08) (.21)C 
Total from investment operations (1.01) (.22) 
Distributions from net investment income (.10) (.13) 
Distributions from net realized gain (.17) (.11) 
Total distributions (.27) (.24) 
Net asset value, end of period $8.26 $9.54 
Total ReturnD,E (11.14)% (1.91)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions 1.54% 1.55%H,I 
Expenses net of fee waivers, if any 1.54% 1.55%H,I 
Expenses net of all reductions 1.54% 1.55%H,I 
Net investment income (loss) .74% (.12)%H 
Supplemental Data   
Net assets, end of period (000 omitted) $261 $157 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2045 Fund

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.56 $10.00 
Income from Investment Operations   
Net investment income (loss)B .16 .05 
Net realized and unrealized gain (loss) (1.07) (.22)C 
Total from investment operations (.91) (.17) 
Distributions from net investment income (.18) (.16) 
Distributions from net realized gain (.17) (.11) 
Total distributions (.35) (.27) 
Net asset value, end of period $8.30 $9.56 
Total ReturnD (10.29)% (1.31)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .56%G .55%G,H 
Expenses net of fee waivers, if any .56%G .55%G,H 
Expenses net of all reductions .56%G .55%G,H 
Net investment income (loss) 1.72% .88%H 
Supplemental Data   
Net assets, end of period (000 omitted) $10,682 $748 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2045 Fund Class K

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.56 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .05 
Net realized and unrealized gain (loss) (1.07) (.22)C 
Total from investment operations (.89) (.17) 
Distributions from net investment income (.19) (.16) 
Distributions from net realized gain (.17) (.11) 
Total distributions (.37)D (.27) 
Net asset value, end of period $8.30 $9.56 
Total ReturnE (10.14)% (1.35)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .44% .44%H 
Expenses net of fee waivers, if any .44% .44%H 
Expenses net of all reductions .44% .44%H 
Net investment income (loss) 1.84% .99%H 
Supplemental Data   
Net assets, end of period (000 omitted) $13,473 $99 
Portfolio turnover rateG 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 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 distributions of $.37 per share is comprised of distributions from net investment income of $.194 and distributions from net realized gain of $.171 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2045 Fund Class K6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.57 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .06 
Net realized and unrealized gain (loss) (1.08) (.22)C 
Total from investment operations (.89) (.16) 
Distributions from net investment income (.18) (.16) 
Distributions from net realized gain (.17) (.11) 
Total distributions (.36)D (.27) 
Net asset value, end of period $8.32 $9.57 
Total ReturnE (10.10)% (1.21)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .34% .35%H,I 
Expenses net of fee waivers, if any .34% .35%H,I 
Expenses net of all reductions .34% .35%H,I 
Net investment income (loss) 1.94% 1.08%H 
Supplemental Data   
Net assets, end of period (000 omitted) $435,714 $8,306 
Portfolio turnover rateG 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 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 distributions of $.36 per share is comprised of distributions from net investment income of $.183 and distributions from net realized gain of $.173 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2045 Fund Class I

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.56 $10.00 
Income from Investment Operations   
Net investment income (loss)B .17 .05 
Net realized and unrealized gain (loss) (1.07) (.22)C 
Total from investment operations (.90) (.17) 
Distributions from net investment income (.19) (.16) 
Distributions from net realized gain (.17) (.11) 
Total distributions (.36) (.27) 
Net asset value, end of period $8.30 $9.56 
Total ReturnD (10.18)% (1.38)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .55%G .54%H 
Expenses net of fee waivers, if any .55%G .54%H 
Expenses net of all reductions .55%G .54%H 
Net investment income (loss) 1.74% .89%H 
Supplemental Data   
Net assets, end of period (000 omitted) $3,395 $99 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2045 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.56 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .05 
Net realized and unrealized gain (loss) (1.08) (.22)C 
Total from investment operations (.90) (.17) 
Distributions from net investment income (.17) (.16) 
Distributions from net realized gain (.17) (.11) 
Total distributions (.34) (.27) 
Net asset value, end of period $8.32 $9.56 
Total ReturnD (10.10)% (1.35)% 
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) 1.84% .99%G 
Supplemental Data   
Net assets, end of period (000 omitted) $92 $99 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2045 Fund Class Z6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.57 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .06 
Net realized and unrealized gain (loss) (1.07) (.22)C 
Total from investment operations (.89) (.16) 
Distributions from net investment income (.19) (.16) 
Distributions from net realized gain (.17) (.11) 
Total distributions (.36) (.27) 
Net asset value, end of period $8.32 $9.57 
Total ReturnD (10.10)% (1.21)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .35%G .34%H 
Expenses net of fee waivers, if any .35%G .34%H 
Expenses net of all reductions .35%G .34%H 
Net investment income (loss) 1.94% 1.09%H 
Supplemental Data   
Net assets, end of period (000 omitted) $1,108 $99 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 H Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 14.0 
Fidelity Series Emerging Markets Opportunities Fund 11.1 
Fidelity Series Blue Chip Growth Fund 9.7 
Fidelity Series Large Cap Stock Fund 7.6 
Fidelity Series Large Cap Growth Index Fund 7.3 
Fidelity Series International Growth Fund 6.8 
Fidelity Series International Value Fund 6.5 
Fidelity Series Overseas Fund 6.5 
Fidelity Series Value Discovery Fund 4.4 
Fidelity Series Small Cap Opportunities Fund 3.7 
 77.6 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.1% 
   International Equity Funds 39.1% 
   Bond Funds 7.0% 
   Short-Term Funds 3.8% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 50.1%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 2,779,369 $35,853,859 
Fidelity Series Commodity Strategy Fund (a) 3,429,220 12,516,653 
Fidelity Series Large Cap Growth Index Fund (a) 2,666,404 26,770,691 
Fidelity Series Large Cap Stock Fund (a) 2,322,883 27,851,364 
Fidelity Series Large Cap Value Index Fund (a) 5,369,792 51,603,703 
Fidelity Series Small Cap Opportunities Fund (a) 1,360,162 13,805,646 
Fidelity Series Value Discovery Fund (a) 1,630,510 16,190,967 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $221,735,875)  184,592,883 
International Equity Funds - 39.1%   
Fidelity Series Canada Fund (a) 1,036,516 8,592,715 
Fidelity Series Emerging Markets Fund (a) 628,557 4,450,181 
Fidelity Series Emerging Markets Opportunities Fund (a) 2,631,047 40,965,399 
Fidelity Series International Growth Fund (a) 1,722,278 24,938,580 
Fidelity Series International Index Fund (a) 1,197,164 9,816,743 
Fidelity Series International Small Cap Fund (a) 555,958 7,433,165 
Fidelity Series International Value Fund (a) 3,356,805 23,967,588 
Fidelity Series Overseas Fund (a) 2,760,726 23,880,282 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $172,912,806)  144,044,653 
Bond Funds - 7.0%   
Fidelity Series Corporate Bond Fund (a) 10,824 109,969 
Fidelity Series Emerging Markets Debt Fund (a) 310,670 2,504,000 
Fidelity Series Floating Rate High Income Fund (a) 69,524 558,973 
Fidelity Series Government Bond Index Fund (a) 14,823 167,351 
Fidelity Series High Income Fund (a) 343,384 2,829,486 
Fidelity Series Inflation-Protected Bond Index Fund (a) 833,185 8,398,507 
Fidelity Series Investment Grade Bond Fund (a) 14,398 166,004 
Fidelity Series Investment Grade Securitized Fund (a) 10,897 114,859 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 882,866 9,437,840 
Fidelity Series Real Estate Income Fund (a) 183,180 1,542,372 
TOTAL BOND FUNDS   
(Cost $25,596,826)  25,829,361 
Short-Term Funds - 3.8%   
Fidelity Cash Central Fund 0.29% (b) 49 49 
Fidelity Series Government Money Market Fund 0.4% (a)(c) 3,379,025 3,379,025 
Fidelity Series Short-Term Credit Fund (a) 95,960 948,082 
Fidelity Series Treasury Bill Index Fund (a) 974,578 9,784,765 
TOTAL SHORT-TERM FUNDS   
(Cost $14,107,649)  14,111,921 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $434,353,156)  368,578,818 
NET OTHER ASSETS (LIABILITIES) - 0.0%  7,599 
NET ASSETS - 100%  $368,586,417 

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 $1,055,521 $50,221,442 $10,748,538 $3,771,394 $(185,907) $(4,488,659) $35,853,859 
Fidelity Series Canada Fund 84,153 11,051,378 129,033 102,204 (498) (2,413,285) 8,592,715 
Fidelity Series Commodity Strategy Fund 220,094 18,409,630 2,452,813 178,962 (457,332) (3,202,926) 12,516,653 
Fidelity Series Corporate Bond Fund 16,200 704,577 636,545 10,057 33,099 (7,362) 109,969 
Fidelity Series Emerging Markets Debt Fund 57,727 3,080,218 169,755 127,984 (4,273) (459,917) 2,504,000 
Fidelity Series Emerging Markets Fund 85,942 6,125,315 256,169 106,260 (18,523) (1,486,384) 4,450,181 
Fidelity Series Emerging Markets Opportunities Fund 778,683 50,413,502 1,468,716 1,065,322 (125,875) (8,632,195) 40,965,399 
Fidelity Series Floating Rate High Income Fund 13,148 663,702 34,433 27,314 (933) (82,511) 558,973 
Fidelity Series Government Bond Index Fund 22,448 1,044,017 939,000 8,264 36,511 3,375 167,351 
Fidelity Series Government Money Market Fund 0.4% 22,152 6,502,774 3,145,901 14,916 -- -- 3,379,025 
Fidelity Series High Income Fund 100,406 3,321,654 188,814 154,518 (5,755) (398,005) 2,829,486 
Fidelity Series Inflation-Protected Bond Index Fund 26,459 9,370,590 1,005,339 94,953 5,448 1,349 8,398,507 
Fidelity Series International Growth Fund 706,766 35,275,963 9,306,635 1,090,584 (61,304) (1,676,210) 24,938,580 
Fidelity Series International Index Fund 185,466 12,114,431 333,473 195,838 (40,107) (2,109,574) 9,816,743 
Fidelity Series International Small Cap Fund 184,820 10,596,021 1,786,724 383,287 (197,772) (1,363,180) 7,433,165 
Fidelity Series International Value Fund 697,133 35,627,396 4,918,517 1,209,913 (197,490) (7,240,934) 23,967,588 
Fidelity Series Investment Grade Bond Fund 23,752 1,093,347 980,339 11,297 33,168 (3,924) 166,004 
Fidelity Series Investment Grade Securitized Fund 16,712 730,855 646,555 8,758 12,984 863 114,859 
Fidelity Series Large Cap Growth Index Fund 826,189 37,704,782 11,155,177 397,684 (101,995) (503,108) 26,770,691 
Fidelity Series Large Cap Stock Fund 823,755 38,731,632 5,505,344 1,879,764 (30,869) (6,167,810) 27,851,364 
Fidelity Series Large Cap Value Index Fund 1,542,556 74,239,596 9,097,619 3,752,632 (209,376) (14,871,454) 51,603,703 
Fidelity Series Long-Term Treasury Bond Index Fund 311,708 15,952,376 8,794,048 908,478 341,367 1,626,437 9,437,840 
Fidelity Series Overseas Fund -- 27,979,228 -- 61,218 -- (4,098,946) 23,880,282 
Fidelity Series Real Estate Income Fund 41,263 2,092,127 119,396 91,980 (3,384) (468,238) 1,542,372 
Fidelity Series Short-Term Credit Fund 22,157 1,201,449 259,639 17,726 614 (16,499) 948,082 
Fidelity Series Small Cap Opportunities Fund 411,502 19,819,732 2,280,955 895,378 (59,216) (4,085,417) 13,805,646 
Fidelity Series Treasury Bill Index Fund 55,928 11,576,580 1,869,142 42,753 801 20,598 9,784,765 
Fidelity Series Value Discovery Fund 488,066 23,203,466 3,248,006 882,653 (79,370) (4,173,189) 16,190,967 
 8,820,706 508,847,780 81,476,625 17,492,091 (1,315,987) (66,297,105) 368,578,769 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Fidelity Central Funds (cost $49) $49  
Other affiliated issuers (cost $434,353,107) 368,578,769  
Total Investment in Securities (cost $434,353,156)  $368,578,818 
Cash  146 
Receivable for investments sold  102,067 
Receivable for fund shares sold  1,020,964 
Total assets  369,701,995 
Liabilities   
Payable for investments purchased $962,379  
Payable for fund shares redeemed 45,469  
Accrued management fee 107,138  
Distribution and service plan fees payable 592  
Total liabilities  1,115,578 
Net Assets  $368,586,417 
Net Assets consist of:   
Paid in capital  $431,822,514 
Total accumulated earnings (loss)  (63,236,097) 
Net Assets  $368,586,417 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($643,812 ÷ 77,959 shares)(a)  $8.26 
Maximum offering price per share (100/94.25 of $8.26)  $8.76 
Class M:   
Net Asset Value and redemption price per share ($297,861 ÷ 36,140 shares)(a)  $8.24 
Maximum offering price per share (100/96.50 of $8.24)  $8.54 
Class C:   
Net Asset Value and offering price per share ($449,013 ÷ 54,687 shares)(a)  $8.21 
Fidelity Freedom Blend 2050 Fund:   
Net Asset Value, offering price and redemption price per share ($9,529,814 ÷ 1,153,275 shares)  $8.26 
Class K:   
Net Asset Value, offering price and redemption price per share ($8,346,444 ÷ 1,009,690 shares)  $8.27 
Class K6:   
Net Asset Value, offering price and redemption price per share ($344,082,011 ÷ 41,539,150 shares)  $8.28 
Class I:   
Net Asset Value, offering price and redemption price per share ($3,180,597 ÷ 385,073 shares)  $8.26 
Class Z:   
Net Asset Value, offering price and redemption price per share ($88,645 ÷ 10,701 shares)  $8.28 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($1,968,220 ÷ 237,567 shares)  $8.28 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $7,571,898 
Expenses   
Management fee $1,133,944  
Distribution and service plan fees 5,557  
Independent trustees' fees and expenses 1,074  
Total expenses  1,140,575 
Net investment income (loss)  6,431,323 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers (1,315,949)  
Capital gain distributions from underlying funds:   
Affiliated issuers 9,920,193  
Total net realized gain (loss)  8,604,244 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (66,297,105)  
Total change in net unrealized appreciation (depreciation)  (66,297,105) 
Net gain (loss)  (57,692,861) 
Net increase (decrease) in net assets resulting from operations  $(51,261,538) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 For the period
August 31, 2018 (commencement of operations) to March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $6,431,323 $12,692 
Net realized gain (loss) 8,604,244 18,850 
Change in net unrealized appreciation (depreciation) (66,297,105) 522,767 
Net increase (decrease) in net assets resulting from operations (51,261,538) 554,309 
Distributions to shareholders (12,506,845) (28,794) 
Share transactions - net increase (decrease) 423,536,446 8,292,839 
Total increase (decrease) in net assets 359,768,063 8,818,354 
Net Assets   
Beginning of period 8,818,354 – 
End of period $368,586,417 $8,818,354 

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, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.51 $10.00 
Income from Investment Operations   
Net investment income (loss)B .15 .02 
Net realized and unrealized gain (loss) (1.08) (.21)C 
Total from investment operations (.93) (.19) 
Distributions from net investment income (.16) (.14) 
Distributions from net realized gain (.16) (.16) 
Total distributions (.32) (.30) 
Net asset value, end of period $8.26 $9.51 
Total ReturnD,E (10.48)% (1.50)% 
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) 1.51% .31%H 
Supplemental Data   
Net assets, end of period (000 omitted) $644 $239 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2050 Fund Class M

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.51 $10.00 
Income from Investment Operations   
Net investment income (loss)B .12 C 
Net realized and unrealized gain (loss) (1.08) (.20)D 
Total from investment operations (.96) (.20) 
Distributions from net investment income (.14) (.13) 
Distributions from net realized gain (.16) (.16) 
Total distributions (.31)E (.29) 
Net asset value, end of period $8.24 $9.51 
Total ReturnF,G (10.80)% (1.60)% 
Ratios to Average Net AssetsH,I   
Expenses before reductions 1.04% 1.04%J 
Expenses net of fee waivers, if any 1.04% 1.04%J 
Expenses net of all reductions 1.04% 1.04%J 
Net investment income (loss) 1.26% .07%J 
Supplemental Data   
Net assets, end of period (000 omitted) $298 $99 
Portfolio turnover rateI 26% 12%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 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.

 E Total distributions of $.31 per share is comprised of distributions from net investment income of $.143 and distributions from net realized gain of $.163 per share.

 F Total returns for periods of less than one year are not annualized.

 G Total returns do not include the effect of the sales charges.

 H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 I Amounts do not include the activity of Underlying Funds.

 J Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2050 Fund Class C

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.50 $10.00 
Income from Investment Operations   
Net investment income (loss)B .07 (.02) 
Net realized and unrealized gain (loss) (1.08) (.20)C 
Total from investment operations (1.01) (.22) 
Distributions from net investment income (.12) (.12) 
Distributions from net realized gain (.16) (.16) 
Total distributions (.28) (.28) 
Net asset value, end of period $8.21 $9.50 
Total ReturnD,E (11.22)% (1.89)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions 1.54% 1.54%H 
Expenses net of fee waivers, if any 1.54% 1.54%H 
Expenses net of all reductions 1.54% 1.54%H 
Net investment income (loss) .76% (.43)%H 
Supplemental Data   
Net assets, end of period (000 omitted) $449 $137 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2050 Fund

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.51 $10.00 
Income from Investment Operations   
Net investment income (loss)B .16 .03 
Net realized and unrealized gain (loss) (1.07) (.21)C 
Total from investment operations (.91) (.18) 
Distributions from net investment income (.18) (.15) 
Distributions from net realized gain (.16) (.16) 
Total distributions (.34) (.31) 
Net asset value, end of period $8.26 $9.51 
Total ReturnD (10.29)% (1.39)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .56%G .54%H 
Expenses net of fee waivers, if any .56%G .54%H 
Expenses net of all reductions .56%G .54%H 
Net investment income (loss) 1.75% .57%H 
Supplemental Data   
Net assets, end of period (000 omitted) $9,530 $466 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2050 Fund Class K

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.52 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .04 
Net realized and unrealized gain (loss) (1.09) (.21)C 
Total from investment operations (.90) (.17) 
Distributions from net investment income (.19) (.15) 
Distributions from net realized gain (.16) (.16) 
Total distributions (.35) (.31) 
Net asset value, end of period $8.27 $9.52 
Total ReturnD (10.17)% (1.28)% 
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) 1.86% .67%G 
Supplemental Data   
Net assets, end of period (000 omitted) $8,346 $99 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2050 Fund Class K6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.52 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .04 
Net realized and unrealized gain (loss) (1.08) (.20)C 
Total from investment operations (.89) (.16) 
Distributions from net investment income (.18) (.16) 
Distributions from net realized gain (.17) (.16) 
Total distributions (.35) (.32) 
Net asset value, end of period $8.28 $9.52 
Total ReturnD (10.13)% (1.25)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .34% .35%G,H 
Expenses net of fee waivers, if any .34% .35%G,H 
Expenses net of all reductions .34% .35%G,H 
Net investment income (loss) 1.96% .76%G 
Supplemental Data   
Net assets, end of period (000 omitted) $344,082 $7,480 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2050 Fund Class I

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.52 $10.00 
Income from Investment Operations   
Net investment income (loss)B .17 .03 
Net realized and unrealized gain (loss) (1.08) (.20)C 
Total from investment operations (.91) (.17) 
Distributions from net investment income (.19) (.15) 
Distributions from net realized gain (.16) (.16) 
Total distributions (.35) (.31) 
Net asset value, end of period $8.26 $9.52 
Total ReturnD (10.32)% (1.32)% 
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) 1.76% .57%G 
Supplemental Data   
Net assets, end of period (000 omitted) $3,181 $101 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2050 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.52 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .04 
Net realized and unrealized gain (loss) (1.09) (.21)C 
Total from investment operations (.91) (.17) 
Distributions from net investment income (.17) (.15) 
Distributions from net realized gain (.16) (.16) 
Total distributions (.33) (.31) 
Net asset value, end of period $8.28 $9.52 
Total ReturnD (10.24)% (1.28)% 
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) 1.86% .67%G 
Supplemental Data   
Net assets, end of period (000 omitted) $89 $99 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2050 Fund Class Z6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.52 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .04 
Net realized and unrealized gain (loss) (1.08) (.20)C 
Total from investment operations (.90) (.16) 
Distributions from net investment income (.18) (.16) 
Distributions from net realized gain (.16) (.16) 
Total distributions (.34) (.32) 
Net asset value, end of period $8.28 $9.52 
Total ReturnD (10.15)% (1.25)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .35%G .34%H 
Expenses net of fee waivers, if any .35%G .34%H 
Expenses net of all reductions .35%G .34%H 
Net investment income (loss) 1.95% .77%H 
Supplemental Data   
Net assets, end of period (000 omitted) $1,968 $99 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 H Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 14.0 
Fidelity Series Emerging Markets Opportunities Fund 11.1 
Fidelity Series Blue Chip Growth Fund 9.7 
Fidelity Series Large Cap Stock Fund 7.6 
Fidelity Series Large Cap Growth Index Fund 7.3 
Fidelity Series International Growth Fund 6.8 
Fidelity Series Overseas Fund 6.5 
Fidelity Series International Value Fund 6.5 
Fidelity Series Value Discovery Fund 4.4 
Fidelity Series Small Cap Opportunities Fund 3.7 
 77.6 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.1% 
   International Equity Funds 39.1% 
   Bond Funds 7.0% 
   Short-Term Funds 3.8% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 50.1%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 1,366,639 $17,629,639 
Fidelity Series Commodity Strategy Fund (a) 1,686,059 6,154,116 
Fidelity Series Large Cap Growth Index Fund (a) 1,311,105 13,163,490 
Fidelity Series Large Cap Stock Fund (a) 1,142,083 13,693,571 
Fidelity Series Large Cap Value Index Fund (a) 2,640,345 25,373,711 
Fidelity Series Small Cap Opportunities Fund (a) 668,854 6,788,869 
Fidelity Series Value Discovery Fund (a) 801,773 7,961,607 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $108,466,816)  90,765,003 
International Equity Funds - 39.1%   
Fidelity Series Canada Fund (a) 511,496 4,240,298 
Fidelity Series Emerging Markets Fund (a) 309,108 2,188,485 
Fidelity Series Emerging Markets Opportunities Fund (a) 1,294,051 20,148,369 
Fidelity Series International Growth Fund (a) 846,868 12,262,644 
Fidelity Series International Index Fund (a) 588,614 4,826,634 
Fidelity Series International Small Cap Fund (a) 272,028 3,637,021 
Fidelity Series International Value Fund (a) 1,647,224 11,761,177 
Fidelity Series Overseas Fund (a) 1,360,764 11,770,612 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $84,868,659)  70,835,240 
Bond Funds - 7.0%   
Fidelity Series Corporate Bond Fund (a) 5,294 53,784 
Fidelity Series Emerging Markets Debt Fund (a) 151,133 1,218,132 
Fidelity Series Floating Rate High Income Fund (a) 34,406 276,620 
Fidelity Series Government Bond Index Fund (a) 7,239 81,727 
Fidelity Series High Income Fund (a) 168,832 1,391,175 
Fidelity Series Inflation-Protected Bond Index Fund (a) 409,154 4,124,271 
Fidelity Series Investment Grade Bond Fund (a) 7,045 81,226 
Fidelity Series Investment Grade Securitized Fund (a) 5,327 56,141 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 434,848 4,648,520 
Fidelity Series Real Estate Income Fund (a) 90,125 758,851 
TOTAL BOND FUNDS   
(Cost $12,663,465)  12,690,447 
Short-Term Funds - 3.8%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 1,593,579 1,593,579 
Fidelity Series Short-Term Credit Fund (a) 54,852 541,937 
Fidelity Series Treasury Bill Index Fund (a) 478,481 4,803,949 
TOTAL SHORT-TERM FUNDS   
(Cost $6,941,838)  6,939,465 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $212,940,778)  181,230,155 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (2,445) 
NET ASSETS - 100%  $181,227,710 

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 $609,952 $23,533,607 $4,346,777 $1,490,124 $(127,618) $(2,039,525) $17,629,639 
Fidelity Series Canada Fund 48,676 5,411,116 50,442 44,548 (291) (1,168,761) 4,240,298 
Fidelity Series Commodity Strategy Fund 126,853 8,821,216 1,105,755 73,648 (217,139) (1,471,059) 6,154,116 
Fidelity Series Corporate Bond Fund 9,362 279,277 243,450 3,871 12,330 (3,735) 53,784 
Fidelity Series Emerging Markets Debt Fund 34,052 1,478,500 72,371 52,902 (2,762) (219,287) 1,218,132 
Fidelity Series Emerging Markets Fund 49,653 2,956,873 115,090 46,407 (11,859) (691,092) 2,188,485 
Fidelity Series Emerging Markets Opportunities Fund 449,771 24,628,823 645,459 465,253 (82,598) (4,202,168) 20,148,369 
Fidelity Series Floating Rate High Income Fund 7,600 323,061 13,677 11,341 (616) (39,748) 276,620 
Fidelity Series Government Bond Index Fund 12,972 409,506 355,726 3,160 13,543 1,432 81,727 
Fidelity Series Government Money Market Fund 0.4% 12,441 3,031,619 1,450,481 6,209 -- -- 1,593,579 
Fidelity Series High Income Fund 58,022 1,615,782 86,226 64,085 (4,236) (192,167) 1,391,175 
Fidelity Series Inflation-Protected Bond Index Fund 15,290 4,557,905 442,364 41,580 1,931 (8,491) 4,124,271 
Fidelity Series International Growth Fund 408,416 16,804,841 3,894,925 476,326 (93,084) (962,604) 12,262,644 
Fidelity Series International Index Fund 107,171 5,908,977 150,668 85,360 (27,230) (1,011,616) 4,826,634 
Fidelity Series International Small Cap Fund 107,001 5,077,318 787,946 167,405 (98,891) (660,461) 3,637,021 
Fidelity Series International Value Fund 402,701 16,973,375 2,071,050 528,451 (118,323) (3,425,526) 11,761,177 
Fidelity Series Investment Grade Bond Fund 13,726 431,384 374,166 4,321 12,353 (2,071) 81,226 
Fidelity Series Investment Grade Securitized Fund 9,657 287,473 246,129 3,395 4,782 358 56,141 
Fidelity Series Large Cap Growth Index Fund 477,427 17,909,857 4,684,328 171,581 (134,102) (405,364) 13,163,490 
Fidelity Series Large Cap Stock Fund 476,023 18,349,568 2,193,545 748,640 (45,094) (2,893,381) 13,693,571 
Fidelity Series Large Cap Value Index Fund 891,399 35,418,434 3,631,948 1,643,849 (161,389) (7,142,785) 25,373,711 
Fidelity Series Long-Term Treasury Bond Index Fund 180,119 7,183,601 3,521,805 389,543 95,595 711,010 4,648,520 
Fidelity Series Overseas Fund -- 13,757,247 -- 26,731 -- (1,986,635) 11,770,612 
Fidelity Series Real Estate Income Fund 24,092 1,016,138 47,103 37,512 (2,604) (231,672) 758,851 
Fidelity Series Short-Term Credit Fund 12,443 638,703 97,667 7,423 102 (11,644) 541,937 
Fidelity Series Small Cap Opportunities Fund 237,795 9,435,738 933,339 352,536 (41,714) (1,909,611) 6,788,869 
Fidelity Series Treasury Bill Index Fund 32,538 5,488,940 726,992 17,928 289 9,174 4,803,949 
Fidelity Series Value Discovery Fund 282,039 11,062,931 1,314,884 388,235 (53,958) (2,014,521) 7,961,607 
 $5,097,191 $242,791,810 $33,604,313 $7,352,364 $(1,082,583) $(31,971,950) $181,230,155 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $212,940,778) $181,230,155  
Total Investment in Securities (cost $212,940,778)  $181,230,155 
Cash  214 
Receivable for investments sold  49,185 
Receivable for fund shares sold  580,361 
Total assets  181,859,915 
Liabilities   
Payable for investments purchased $381,923  
Payable for fund shares redeemed 198,292  
Accrued management fee 51,677  
Distribution and service plan fees payable 313  
Total liabilities  632,205 
Net Assets  $181,227,710 
Net Assets consist of:   
Paid in capital  $212,246,413 
Total accumulated earnings (loss)  (31,018,703) 
Net Assets  $181,227,710 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($392,956 ÷ 47,489 shares)(a)  $8.27 
Maximum offering price per share (100/94.25 of $8.27)  $8.77 
Class M:   
Net Asset Value and redemption price per share ($248,795 ÷ 30,097 shares)(a)  $8.27 
Maximum offering price per share (100/96.50 of $8.27)  $8.57 
Class C:   
Net Asset Value and offering price per share ($153,444 ÷ 18,623 shares)(a)  $8.24 
Fidelity Freedom Blend 2055 Fund:   
Net Asset Value, offering price and redemption price per share ($5,210,514 ÷ 628,605 shares)  $8.29 
Class K:   
Net Asset Value, offering price and redemption price per share ($4,757,479 ÷ 574,150 shares)  $8.29 
Class K6:   
Net Asset Value, offering price and redemption price per share ($167,830,654 ÷ 20,216,885 shares)  $8.30 
Class I:   
Net Asset Value, offering price and redemption price per share ($1,851,478 ÷ 223,573 shares)  $8.28 
Class Z:   
Net Asset Value, offering price and redemption price per share ($88,694 ÷ 10,683 shares)  $8.30 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($693,696 ÷ 83,563 shares)  $8.30 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $3,238,715 
Expenses   
Management fee $473,355  
Distribution and service plan fees 3,061  
Independent trustees' fees and expenses 436  
Total expenses  476,852 
Net investment income (loss)  2,761,863 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers (1,082,564)  
Capital gain distributions from underlying funds:   
Affiliated issuers 4,113,649  
Total net realized gain (loss)  3,031,085 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (31,971,950)  
Total change in net unrealized appreciation (depreciation)  (31,971,950) 
Net gain (loss)  (28,940,865) 
Net increase (decrease) in net assets resulting from operations  $(26,179,002) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 For the period
August 31, 2018 (commencement of operations) to March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $2,761,863 $12,548 
Net realized gain (loss) 3,031,085 20,366 
Change in net unrealized appreciation (depreciation) (31,971,950) 261,327 
Net increase (decrease) in net assets resulting from operations (26,179,002) 294,241 
Distributions to shareholders (5,105,487) (28,454) 
Share transactions - net increase (decrease) 207,416,351 4,830,061 
Total increase (decrease) in net assets 176,131,862 5,095,848 
Net Assets   
Beginning of period 5,095,848 – 
End of period $181,227,710 $5,095,848 

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, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.51 $10.00 
Income from Investment Operations   
Net investment income (loss)B .16 .04 
Net realized and unrealized gain (loss) (1.10) (.22)C 
Total from investment operations (.94) (.18) 
Distributions from net investment income (.15) (.14) 
Distributions from net realized gain (.14) (.16) 
Total distributions (.30)D (.31)E 
Net asset value, end of period $8.27 $9.51 
Total ReturnF,G (10.55)% (1.46)% 
Ratios to Average Net AssetsH,I   
Expenses before reductions .79% .79%J 
Expenses net of fee waivers, if any .79% .79%J 
Expenses net of all reductions .79% .79%J 
Net investment income (loss) 1.58% .70%J 
Supplemental Data   
Net assets, end of period (000 omitted) $393 $151 
Portfolio turnover rateI 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 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 distributions of $.30 per share is comprised of distributions from net investment income of $.154 and distributions from net realized gain of $.144 per share.

 E Total distributions of $.31 per share is comprised of distributions from net investment income of $.142 and distributions from net realized gain of $.164 per share.

 F Total returns for periods of less than one year are not annualized.

 G Total returns do not include the effect of the sales charges.

 H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 I Amounts do not include the activity of Underlying Funds.

 J Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2055 Fund Class M

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.51 $10.00 
Income from Investment Operations   
Net investment income (loss)B .13 .02 
Net realized and unrealized gain (loss) (1.09) (.21)C 
Total from investment operations (.96) (.19) 
Distributions from net investment income (.13) (.13) 
Distributions from net realized gain (.14) (.16) 
Total distributions (.28)D (.30)E 
Net asset value, end of period $8.27 $9.51 
Total ReturnF,G (10.73)% (1.55)% 
Ratios to Average Net AssetsH,I   
Expenses before reductions 1.04% 1.04%J 
Expenses net of fee waivers, if any 1.04% 1.04%J 
Expenses net of all reductions 1.04% 1.04%J 
Net investment income (loss) 1.33% .45%J 
Supplemental Data   
Net assets, end of period (000 omitted) $249 $101 
Portfolio turnover rateI 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 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 distributions of $.28 per share is comprised of distributions from net investment income of $.132 and distributions from net realized gain of $.144 per share.

 E Total distributions of $.30 per share is comprised of distributions from net investment income of $.134 and distributions from net realized gain of $.164 per share.

 F Total returns for periods of less than one year are not annualized.

 G Total returns do not include the effect of the sales charges.

 H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 I Amounts do not include the activity of Underlying Funds.

 J Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2055 Fund Class C

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.49 $10.00 
Income from Investment Operations   
Net investment income (loss)B .08 C 
Net realized and unrealized gain (loss) (1.08) (.23)D 
Total from investment operations (1.00) (.23) 
Distributions from net investment income (.10) (.12) 
Distributions from net realized gain (.14) (.16) 
Total distributions (.25)E (.28) 
Net asset value, end of period $8.24 $9.49 
Total ReturnF,G (11.12)% (1.93)% 
Ratios to Average Net AssetsH,I   
Expenses before reductions 1.54% 1.54%J 
Expenses net of fee waivers, if any 1.54% 1.54%J 
Expenses net of all reductions 1.54% 1.54%J 
Net investment income (loss) .83% (.05)%J 
Supplemental Data   
Net assets, end of period (000 omitted) $153 $107 
Portfolio turnover rateI 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 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.

 E Total distributions of $.25 per share is comprised of distributions from net investment income of $.101 and distributions from net realized gain of $.144 per share.

 F Total returns for periods of less than one year are not annualized.

 G Total returns do not include the effect of the contingent deferred sales charge.

 H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 I Amounts do not include the activity of Underlying Funds.

 J Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2055 Fund

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.51 $10.00 
Income from Investment Operations   
Net investment income (loss)B .17 .05 
Net realized and unrealized gain (loss) (1.08) (.22)C 
Total from investment operations (.91) (.17) 
Distributions from net investment income (.17) (.15) 
Distributions from net realized gain (.14) (.16) 
Total distributions (.31) (.32)D 
Net asset value, end of period $8.29 $9.51 
Total ReturnE (10.22)% (1.35)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .56%H .54%I 
Expenses net of fee waivers, if any .56%H .54%I 
Expenses net of all reductions .56%H .54%I 
Net investment income (loss) 1.82% .95%I 
Supplemental Data   
Net assets, end of period (000 omitted) $5,211 $320 
Portfolio turnover rateG 26% 14%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 distributions of $.32 per share is comprised of distributions from net investment income of $.151 and distributions from net realized gain of $.164 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2055 Fund Class K

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.52 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .06 
Net realized and unrealized gain (loss) (1.09) (.22)C 
Total from investment operations (.90) (.16) 
Distributions from net investment income (.19) (.15) 
Distributions from net realized gain (.14) (.16) 
Total distributions (.33) (.32)D 
Net asset value, end of period $8.29 $9.52 
Total ReturnE (10.17)% (1.23)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .44% .44%H 
Expenses net of fee waivers, if any .44% .44%H 
Expenses net of all reductions .44% .44%H 
Net investment income (loss) 1.93% 1.05%H 
Supplemental Data   
Net assets, end of period (000 omitted) $4,757 $99 
Portfolio turnover rateG 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 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 distributions of $.32 per share is comprised of distributions from net investment income of $.153 and distributions from net realized gain of $.164 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2055 Fund Class K6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.52 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .06 
Net realized and unrealized gain (loss) (1.10) (.22)C 
Total from investment operations (.90) (.16) 
Distributions from net investment income (.18) (.16) 
Distributions from net realized gain (.15) (.16) 
Total distributions (.32)D (.32) 
Net asset value, end of period $8.30 $9.52 
Total ReturnE (10.11)% (1.19)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .34% .35%H,I 
Expenses net of fee waivers, if any .34% .35%H,I 
Expenses net of all reductions .34% .35%H,I 
Net investment income (loss) 2.03% 1.15%H 
Supplemental Data   
Net assets, end of period (000 omitted) $167,831 $4,021 
Portfolio turnover rateG 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 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 distributions of $.32 per share is comprised of distributions from net investment income of $.177 and distributions from net realized gain of $.146 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

 I On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2055 Fund Class I

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.52 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .05 
Net realized and unrealized gain (loss) (1.10) (.22)C 
Total from investment operations (.92) (.17) 
Distributions from net investment income (.18) (.15) 
Distributions from net realized gain (.14) (.16) 
Total distributions (.32) (.31) 
Net asset value, end of period $8.28 $9.52 
Total ReturnD (10.32)% (1.27)% 
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) 1.83% .95%G 
Supplemental Data   
Net assets, end of period (000 omitted) $1,851 $99 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2055 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.52 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .06 
Net realized and unrealized gain (loss) (1.10) (.22)C 
Total from investment operations (.91) (.16) 
Distributions from net investment income (.17) (.15) 
Distributions from net realized gain (.14) (.16) 
Total distributions (.31) (.32)D 
Net asset value, end of period $8.30 $9.52 
Total ReturnE (10.23)% (1.23)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .44% .44%H 
Expenses net of fee waivers, if any .44% .44%H 
Expenses net of all reductions .44% .44%H 
Net investment income (loss) 1.93% 1.05%H 
Supplemental Data   
Net assets, end of period (000 omitted) $89 $99 
Portfolio turnover rateG 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 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 distributions of $.32 per share is comprised of distributions from net investment income of $.153 and distributions from net realized gain of $.164 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2055 Fund Class Z6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.52 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .06 
Net realized and unrealized gain (loss) (1.09) (.22)C 
Total from investment operations (.90) (.16) 
Distributions from net investment income (.18) (.16) 
Distributions from net realized gain (.14) (.16) 
Total distributions (.32) (.32) 
Net asset value, end of period $8.30 $9.52 
Total ReturnD (10.11)% (1.19)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .35%G .34%H 
Expenses net of fee waivers, if any .35%G .34%H 
Expenses net of all reductions .35%G .34%H 
Net investment income (loss) 2.03% 1.15%H 
Supplemental Data   
Net assets, end of period (000 omitted) $694 $99 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 H Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 14.0 
Fidelity Series Emerging Markets Opportunities Fund 11.1 
Fidelity Series Blue Chip Growth Fund 9.7 
Fidelity Series Large Cap Stock Fund 7.6 
Fidelity Series Large Cap Growth Index Fund 7.3 
Fidelity Series International Growth Fund 6.8 
Fidelity Series Overseas Fund 6.5 
Fidelity Series International Value Fund 6.5 
Fidelity Series Value Discovery Fund 4.4 
Fidelity Series Small Cap Opportunities Fund 3.7 
 77.6 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.1% 
   International Equity Funds 39.1% 
   Bond Funds 7.0% 
   Short-Term Funds 3.8% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 50.1%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 385,917 $4,978,324 
Fidelity Series Commodity Strategy Fund (a) 476,044 1,737,562 
Fidelity Series Large Cap Growth Index Fund (a) 370,253 3,717,336 
Fidelity Series Large Cap Stock Fund (a) 322,408 3,865,673 
Fidelity Series Large Cap Value Index Fund (a) 745,560 7,164,828 
Fidelity Series Small Cap Opportunities Fund (a) 188,901 1,917,349 
Fidelity Series Value Discovery Fund (a) 226,429 2,248,437 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $30,383,346)  25,629,509 
International Equity Funds - 39.1%   
Fidelity Series Canada Fund (a) 144,823 1,200,585 
Fidelity Series Emerging Markets Fund (a) 87,322 618,240 
Fidelity Series Emerging Markets Opportunities Fund (a) 365,577 5,692,038 
Fidelity Series International Growth Fund (a) 238,792 3,457,712 
Fidelity Series International Index Fund (a) 166,065 1,361,733 
Fidelity Series International Small Cap Fund (a) 76,263 1,019,630 
Fidelity Series International Value Fund (a) 462,568 3,302,734 
Fidelity Series Overseas Fund (a) 387,671 3,353,354 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $23,842,038)  20,006,026 
Bond Funds - 7.0%   
Fidelity Series Corporate Bond Fund (a) 1,472 14,954 
Fidelity Series Emerging Markets Debt Fund (a) 41,986 338,404 
Fidelity Series Floating Rate High Income Fund (a) 9,782 78,644 
Fidelity Series Government Bond Index Fund (a) 2,007 22,654 
Fidelity Series High Income Fund (a) 47,666 392,767 
Fidelity Series Inflation-Protected Bond Index Fund (a) 115,127 1,160,476 
Fidelity Series Investment Grade Bond Fund (a) 1,962 22,620 
Fidelity Series Investment Grade Securitized Fund (a) 1,480 15,595 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 123,298 1,318,052 
Fidelity Series Real Estate Income Fund (a) 25,467 214,435 
TOTAL BOND FUNDS   
(Cost $3,600,133)  3,578,601 
Short-Term Funds - 3.8%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 428,307 428,307 
Fidelity Series Short-Term Credit Fund (a) 18,275 180,553 
Fidelity Series Treasury Bill Index Fund (a) 134,545 1,350,828 
TOTAL SHORT-TERM FUNDS   
(Cost $1,961,989)  1,959,688 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $59,787,506)  51,173,824 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (806) 
NET ASSETS - 100%  $51,173,018 

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 $312,706 $6,241,495 $982,524 $310,526 $(59,615) $(533,738) $4,978,324 
Fidelity Series Canada Fund 24,916 1,504,830 11,899 10,116 (86) (317,176) 1,200,585 
Fidelity Series Commodity Strategy Fund 64,618 2,397,138 290,837 15,928 (59,347) (374,010) 1,737,562 
Fidelity Series Corporate Bond Fund 4,796 57,552 48,690 781 2,422 (1,126) 14,954 
Fidelity Series Emerging Markets Debt Fund 17,348 400,558 19,131 11,602 (1,207) (59,164) 338,404 
Fidelity Series Emerging Markets Fund 25,432 808,100 30,753 10,602 (4,599) (179,940) 618,240 
Fidelity Series Emerging Markets Opportunities Fund 230,401 6,839,292 184,437 106,278 (34,504) (1,158,714) 5,692,038 
Fidelity Series Floating Rate High Income Fund 3,892 89,227 3,482 2,504 (292) (10,701) 78,644 
Fidelity Series Government Bond Index Fund 6,645 83,359 70,257 627 2,628 279 22,654 
Fidelity Series Government Money Market Fund 0.4% 6,419 798,824 376,936 1,377 -- -- 428,307 
Fidelity Series High Income Fund 29,725 446,124 29,335 14,127 (2,005) (51,742) 392,767 
Fidelity Series Inflation-Protected Bond Index Fund 7,831 1,270,547 112,704 9,581 212 (5,410) 1,160,476 
Fidelity Series International Growth Fund 209,203 4,485,182 886,293 108,833 (38,834) (311,546) 3,457,712 
Fidelity Series International Index Fund 54,893 1,635,871 47,907 19,384 (11,456) (269,668) 1,361,733 
Fidelity Series International Small Cap Fund 54,693 1,372,920 200,885 38,251 (31,533) (175,565) 1,019,630 
Fidelity Series International Value Fund 206,332 4,509,734 475,221 120,746 (43,352) (894,759) 3,302,734 
Fidelity Series Investment Grade Bond Fund 7,032 88,536 74,690 857 2,392 (650) 22,620 
Fidelity Series Investment Grade Securitized Fund 4,947 58,711 49,038 690 923 52 15,595 
Fidelity Series Large Cap Growth Index Fund 244,799 4,786,645 1,083,397 38,736 (55,852) (174,859) 3,717,336 
Fidelity Series Large Cap Stock Fund 243,833 4,916,099 508,493 156,002 (25,272) (760,494) 3,865,673 
Fidelity Series Large Cap Value Index Fund 456,600 9,529,714 848,904 378,206 (69,008) (1,903,574) 7,164,828 
Fidelity Series Long-Term Treasury Bond Index Fund 92,266 1,799,416 753,196 87,404 13,336 166,230 1,318,052 
Fidelity Series Overseas Fund -- 3,896,793 -- 6,104 -- (543,439) 3,353,354 
Fidelity Series Real Estate Income Fund 12,341 280,028 11,749 8,048 (1,343) (64,842) 214,435 
Fidelity Series Short-Term Credit Fund 6,420 200,168 21,468 1,682 -- (4,567) 180,553 
Fidelity Series Small Cap Opportunities Fund 121,805 2,533,272 218,909 73,223 (19,022) (499,797) 1,917,349 
Fidelity Series Treasury Bill Index Fund 16,578 1,485,585 153,597 4,071 44 2,218 1,350,828 
Fidelity Series Value Discovery Fund 144,469 2,973,114 306,474 90,206 (21,730) (540,942) 2,248,437 
 $2,610,940 $65,488,834 $7,801,206 $1,626,492 $(457,100) $(8,667,644) $51,173,824 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $59,787,506) $51,173,824  
Total Investment in Securities (cost $59,787,506)  $51,173,824 
Cash  203 
Receivable for investments sold  13,740 
Receivable for fund shares sold  122,684 
Total assets  51,310,451 
Liabilities   
Payable for investments purchased $107,026  
Payable for fund shares redeemed 15,617  
Accrued management fee 14,434  
Distribution and service plan fees payable 356  
Total liabilities  137,433 
Net Assets  $51,173,018 
Net Assets consist of:   
Paid in capital  $59,832,669 
Total accumulated earnings (loss)  (8,659,651) 
Net Assets  $51,173,018 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($493,401 ÷ 59,426 shares)(a)  $8.30 
Maximum offering price per share (100/94.25 of $8.30)  $8.81 
Class M:   
Net Asset Value and redemption price per share ($173,919 ÷ 20,975 shares)(a)  $8.29 
Maximum offering price per share (100/96.50 of $8.29)  $8.59 
Class C:   
Net Asset Value and offering price per share ($222,421 ÷ 26,931 shares)(a)  $8.26 
Fidelity Freedom Blend 2060 Fund:   
Net Asset Value, offering price and redemption price per share ($2,772,737 ÷ 333,698 shares)  $8.31 
Class K:   
Net Asset Value, offering price and redemption price per share ($1,307,174 ÷ 157,285 shares)  $8.31 
Class K6:   
Net Asset Value, offering price and redemption price per share ($44,655,001 ÷ 5,365,815 shares)  $8.32 
Class I:   
Net Asset Value, offering price and redemption price per share ($1,084,071 ÷ 130,545 shares)  $8.30 
Class Z:   
Net Asset Value, offering price and redemption price per share ($89,060 ÷ 10,695 shares)  $8.33 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($375,234 ÷ 45,045 shares)  $8.33 

 (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, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $726,817 
Expenses   
Management fee $108,264  
Distribution and service plan fees 3,500  
Independent trustees' fees and expenses 93  
Total expenses  111,857 
Net investment income (loss)  614,960 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers (457,093)  
Capital gain distributions from underlying funds:   
Affiliated issuers 899,675  
Total net realized gain (loss)  442,582 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (8,667,644)  
Total change in net unrealized appreciation (depreciation)  (8,667,644) 
Net gain (loss)  (8,225,062) 
Net increase (decrease) in net assets resulting from operations  $(7,610,102) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 Year ended March 31, 2020 For the period
August 31, 2018 (commencement of operations) to March 31, 2019 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $614,960 $14,234 
Net realized gain (loss) 442,582 32,837 
Change in net unrealized appreciation (depreciation) (8,667,644) 53,962 
Net increase (decrease) in net assets resulting from operations (7,610,102) 101,033 
Distributions to shareholders (1,132,008) (30,562) 
Share transactions - net increase (decrease) 57,305,021 2,539,636 
Total increase (decrease) in net assets 48,562,911 2,610,107 
Net Assets   
Beginning of period 2,610,107 – 
End of period $51,173,018 $2,610,107 

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, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.53 $10.00 
Income from Investment Operations   
Net investment income (loss)B .16 .08 
Net realized and unrealized gain (loss) (1.11) (.27)C 
Total from investment operations (.95) (.19) 
Distributions from net investment income (.14) (.14) 
Distributions from net realized gain (.14) (.15) 
Total distributions (.28) (.28)D 
Net asset value, end of period $8.30 $9.53 
Total ReturnE,F (10.54)% (1.50)% 
Ratios to Average Net AssetsG,H   
Expenses before reductions .79% .80%I,J 
Expenses net of fee waivers, if any .79% .80%I,J 
Expenses net of all reductions .79% .80%I,J 
Net investment income (loss) 1.62% 1.50%I 
Supplemental Data   
Net assets, end of period (000 omitted) $493 $243 
Portfolio turnover rateH 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 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 distributions of $.28 per share is comprised of distributions from net investment income of $.139 and distributions from net realized gain of $.145 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

 J On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2060 Fund Class M

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.53 $10.00 
Income from Investment Operations   
Net investment income (loss)B .14 .07 
Net realized and unrealized gain (loss) (1.12) (.26)C 
Total from investment operations (.98) (.19) 
Distributions from net investment income (.12) (.13) 
Distributions from net realized gain (.14) (.15) 
Total distributions (.26) (.28) 
Net asset value, end of period $8.29 $9.53 
Total ReturnD,E (10.80)% (1.59)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions 1.04% 1.04%H 
Expenses net of fee waivers, if any 1.04% 1.04%H 
Expenses net of all reductions 1.04% 1.04%H 
Net investment income (loss) 1.37% 1.25%H 
Supplemental Data   
Net assets, end of period (000 omitted) $174 $143 
Portfolio turnover rateG 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2060 Fund Class C

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.52 $10.00 
Income from Investment Operations   
Net investment income (loss)B .09 .04 
Net realized and unrealized gain (loss) (1.11) (.26)C 
Total from investment operations (1.02) (.22) 
Distributions from net investment income (.10) (.12) 
Distributions from net realized gain (.14) (.15) 
Total distributions (.24) (.26)D 
Net asset value, end of period $8.26 $9.52 
Total ReturnE,F (11.22)% (1.87)% 
Ratios to Average Net AssetsG,H   
Expenses before reductions 1.54% 1.54%I 
Expenses net of fee waivers, if any 1.54% 1.54%I 
Expenses net of all reductions 1.54% 1.54%I 
Net investment income (loss) .87% .76%I 
Supplemental Data   
Net assets, end of period (000 omitted) $222 $107 
Portfolio turnover rateH 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 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 distributions of $.26 per share is comprised of distributions from net investment income of $.116 and distributions from net realized gain of $.145 per share.

 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 H Amounts do not include the activity of Underlying Funds.

 I Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2060 Fund

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.54 $10.00 
Income from Investment Operations   
Net investment income (loss)B .18 .09 
Net realized and unrealized gain (loss) (1.11) (.25)C 
Total from investment operations (.93) (.16) 
Distributions from net investment income (.16) (.15) 
Distributions from net realized gain (.14) (.15) 
Total distributions (.30) (.30) 
Net asset value, end of period $8.31 $9.54 
Total ReturnD (10.35)% (1.27)% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .55%G .54%H 
Expenses net of fee waivers, if any .55%G .54%H 
Expenses net of all reductions .55%G .54%H 
Net investment income (loss) 1.87% 1.75%H 
Supplemental Data   
Net assets, end of period (000 omitted) $2,773 $453 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2060 Fund Class K

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.54 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .10 
Net realized and unrealized gain (loss) (1.11) (.26)C 
Total from investment operations (.91) (.16) 
Distributions from net investment income (.18) (.15) 
Distributions from net realized gain (.14) (.15) 
Total distributions (.32) (.30) 
Net asset value, end of period $8.31 $9.54 
Total ReturnD (10.22)% (1.28)% 
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) 1.97% 1.85%G 
Supplemental Data   
Net assets, end of period (000 omitted) $1,307 $99 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2060 Fund Class K6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.54 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .10 
Net realized and unrealized gain (loss) (1.10) (.26)C 
Total from investment operations (.90) (.16) 
Distributions from net investment income (.17) (.15) 
Distributions from net realized gain (.14) (.15) 
Total distributions (.32)D (.30) 
Net asset value, end of period $8.32 $9.54 
Total ReturnE (10.12)% (1.24)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .34% .34%H 
Expenses net of fee waivers, if any .34% .34%H 
Expenses net of all reductions .34% .34%H 
Net investment income (loss) 2.07% 1.95%H 
Supplemental Data   
Net assets, end of period (000 omitted) $44,655 $1,261 
Portfolio turnover rateG 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 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 distributions of $.32 per share is comprised of distributions from net investment income of $.174 and distributions from net realized gain of $.144 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2060 Fund Class I

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.54 $10.00 
Income from Investment Operations   
Net investment income (loss)B .19 .10 
Net realized and unrealized gain (loss) (1.12) (.27)C 
Total from investment operations (.93) (.17) 
Distributions from net investment income (.17) (.15) 
Distributions from net realized gain (.14) (.15) 
Total distributions (.31) (.29)D 
Net asset value, end of period $8.30 $9.54 
Total ReturnE (10.37)% (1.31)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .54% .54%H 
Expenses net of fee waivers, if any .54% .54%H 
Expenses net of all reductions .54% .54%H 
Net investment income (loss) 1.87% 1.75%H 
Supplemental Data   
Net assets, end of period (000 omitted) $1,084 $102 
Portfolio turnover rateG 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 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 distributions of $.29 per share is comprised of distributions from net investment income of $.147 and distributions from net realized gain of $.145 per share.

 E Total returns for periods of less than one year are not annualized.

 F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2060 Fund Class Z

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.54 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .10 
Net realized and unrealized gain (loss) (1.11) (.26)C 
Total from investment operations (.91) (.16) 
Distributions from net investment income (.16) (.15) 
Distributions from net realized gain (.14) (.15) 
Total distributions (.30) (.30) 
Net asset value, end of period $8.33 $9.54 
Total ReturnD (10.17)% (1.28)% 
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) 1.97% 1.86%G 
Supplemental Data   
Net assets, end of period (000 omitted) $89 $99 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2060 Fund Class Z6

Years ended March 31, 2020 2019 A 
Selected Per–Share Data   
Net asset value, beginning of period $9.54 $10.00 
Income from Investment Operations   
Net investment income (loss)B .20 .11 
Net realized and unrealized gain (loss) (1.10) (.27)C 
Total from investment operations (.90) (.16) 
Distributions from net investment income (.17) (.15) 
Distributions from net realized gain (.14) (.15) 
Total distributions (.31) (.30) 
Net asset value, end of period $8.33 $9.54 
Total ReturnD (10.10)% (1.24)% 
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) 2.07% 1.96%G 
Supplemental Data   
Net assets, end of period (000 omitted) $375 $103 
Portfolio turnover rateF 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 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

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, 2020

 % of fund's net assets 
Fidelity Series Large Cap Value Index Fund 14.0 
Fidelity Series Emerging Markets Opportunities Fund 11.1 
Fidelity Series Blue Chip Growth Fund 9.7 
Fidelity Series Large Cap Stock Fund 7.6 
Fidelity Series Large Cap Growth Index Fund 7.2 
Fidelity Series International Growth Fund 6.8 
Fidelity Series International Value Fund 6.5 
Fidelity Series Overseas Fund 6.5 
Fidelity Series Value Discovery Fund 4.4 
Fidelity Series Small Cap Opportunities Fund 3.7 
 77.5 

Asset Allocation (% of fund's net assets)

Period end 
   Domestic Equity Funds 50.1% 
   International Equity Funds 39.2% 
   Bond Funds 6.9% 
   Short-Term Funds 3.8% 


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, 2020

Showing Percentage of Net Assets

Domestic Equity Funds - 50.1%   
 Shares Value 
Fidelity Series Blue Chip Growth Fund (a) 19,125 $246,710 
Fidelity Series Commodity Strategy Fund (a) 24,086 87,912 
Fidelity Series Large Cap Growth Index Fund (a) 18,253 183,258 
Fidelity Series Large Cap Stock Fund (a) 15,966 191,426 
Fidelity Series Large Cap Value Index Fund (a) 36,753 353,202 
Fidelity Series Small Cap Opportunities Fund (a) 9,270 94,087 
Fidelity Series Value Discovery Fund (a) 11,129 110,508 
TOTAL DOMESTIC EQUITY FUNDS   
(Cost $1,516,423)  1,267,103 
International Equity Funds - 39.2%   
Fidelity Series Canada Fund (a) 7,095 58,816 
Fidelity Series Emerging Markets Fund (a) 4,310 30,515 
Fidelity Series Emerging Markets Opportunities Fund (a) 17,990 280,112 
Fidelity Series International Growth Fund (a) 11,812 171,036 
Fidelity Series International Index Fund (a) 8,258 67,715 
Fidelity Series International Small Cap Fund (a) 3,884 51,927 
Fidelity Series International Value Fund (a) 23,172 165,447 
Fidelity Series Overseas Fund (a) 18,968 164,074 
TOTAL INTERNATIONAL EQUITY FUNDS   
(Cost $1,186,850)  989,642 
Bond Funds - 6.9%   
Fidelity Series Corporate Bond Fund (a) 66 668 
Fidelity Series Emerging Markets Debt Fund (a) 2,002 16,137 
Fidelity Series Floating Rate High Income Fund (a) 471 3,787 
Fidelity Series Government Bond Index Fund (a) 91 1,022 
Fidelity Series High Income Fund (a) 2,332 19,212 
Fidelity Series Inflation-Protected Bond Index Fund (a) 5,438 54,819 
Fidelity Series Investment Grade Bond Fund (a) 88 1,012 
Fidelity Series Investment Grade Securitized Fund (a) 66 696 
Fidelity Series Long-Term Treasury Bond Index Fund (a) 6,288 67,221 
Fidelity Series Real Estate Income Fund (a) 1,249 10,519 
TOTAL BOND FUNDS   
(Cost $176,393)  175,093 
Short-Term Funds - 3.8%   
Fidelity Series Government Money Market Fund 0.4% (a)(b) 31,125 31,125 
Fidelity Series Short-Term Credit Fund (a) 598 5,909 
Fidelity Series Treasury Bill Index Fund (a) 5,955 59,792 
TOTAL SHORT-TERM FUNDS   
(Cost $96,853)  96,826 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $2,976,519)  2,528,664 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (44) 
NET ASSETS - 100%  $2,528,620 

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 $199 
Total $199 

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 $-- $322,483 $42,838 $13,306 $(1,636) $(31,299) $246,710 
Fidelity Series Canada Fund -- 74,502 1,222 377 (172) (14,292) 58,816 
Fidelity Series Commodity Strategy Fund -- 115,087 6,927 638 (810) (19,438) 87,912 
Fidelity Series Corporate Bond Fund -- 2,603 1,944 19 58 (49) 668 
Fidelity Series Emerging Markets Debt Fund -- 19,597 647 425 (17) (2,796) 16,137 
Fidelity Series Emerging Markets Fund -- 40,443 1,421 422 (95) (8,412) 30,515 
Fidelity Series Emerging Markets Opportunities Fund -- 348,210 7,908 4,228 (603) (59,587) 280,112 
Fidelity Series Floating Rate High Income Fund -- 4,377 88 92 (3) (499) 3,787 
Fidelity Series Government Bond Index Fund -- 3,571 2,627 18 65 13 1,022 
Fidelity Series Government Money Market Fund 0.4% -- 43,941 12,816 54 -- -- 31,125 
Fidelity Series High Income Fund -- 22,220 441 525 (17) (2,550) 19,212 
Fidelity Series Inflation-Protected Bond Index Fund -- 60,986 6,040 387 (134) 54,819 
Fidelity Series International Growth Fund -- 228,674 35,339 4,331 (1,596) (20,703) 171,036 
Fidelity Series International Index Fund -- 83,201 1,595 722 (142) (13,749) 67,715 
Fidelity Series International Small Cap Fund -- 69,195 6,618 1,523 (810) (9,840) 51,927 
Fidelity Series International Value Fund -- 230,865 18,723 4,805 (1,348) (45,347) 165,447 
Fidelity Series Investment Grade Bond Fund -- 3,778 2,771 22 34 (29) 1,012 
Fidelity Series Investment Grade Securitized Fund -- 2,596 1,918 17 15 696 
Fidelity Series Large Cap Growth Index Fund -- 251,589 53,030 1,453 (2,977) (12,324) 183,258 
Fidelity Series Large Cap Stock Fund -- 252,294 20,448 6,373 (812) (39,608) 191,426 
Fidelity Series Large Cap Value Index Fund -- 483,813 34,663 15,551 (1,552) (94,396) 353,202 
Fidelity Series Long-Term Treasury Bond Index Fund -- 91,945 33,171 3,190 683 7,764 67,221 
Fidelity Series Overseas Fund -- 192,964 3,335 243 (275) (25,280) 164,074 
Fidelity Series Real Estate Income Fund -- 13,825 276 288 (8) (3,022) 10,519 
Fidelity Series Short-Term Credit Fund -- 7,156 1,108 61 (141) 5,909 
Fidelity Series Small Cap Opportunities Fund -- 128,057 8,326 3,136 (372) (25,272) 94,087 
Fidelity Series Treasury Bill Index Fund -- 66,342 6,667 154 114 59,792 
Fidelity Series Value Discovery Fund -- 151,309 13,237 3,869 (582) (26,982) 110,508 
 $-- $3,315,623 $326,144 $66,229 $(12,960) $(447,855) $2,528,664 

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

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

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, 2020 
Assets   
Investment in securities, at value — See accompanying schedule:
 
  
Affiliated issuers (cost $2,976,519) $2,528,664  
Total Investment in Securities (cost $2,976,519)  $2,528,664 
Cash  200 
Receivable for investments sold  779 
Receivable for fund shares sold  119,482 
Total assets  2,649,125 
Liabilities   
Payable for investments purchased $119,458  
Accrued management fee 818  
Distribution and service plan fees payable 229  
Total liabilities  120,505 
Net Assets  $2,528,620 
Net Assets consist of:   
Paid in capital  $2,972,990 
Total accumulated earnings (loss)  (444,370) 
Net Assets  $2,528,620 
Net Asset Value and Maximum Offering Price   
Class A:   
Net Asset Value and redemption price per share ($154,196 ÷ 18,312 shares)(a)  $8.42 
Maximum offering price per share (100/94.25 of $8.42)  $8.93 
Class M:   
Net Asset Value and redemption price per share ($165,377 ÷ 19,651 shares)(a)  $8.42 
Maximum offering price per share (100/96.50 of $8.42)  $8.73 
Class C:   
Net Asset Value and offering price per share ($155,890 ÷ 18,562 shares)(a)  $8.40 
Fidelity Freedom Blend 2065 Fund:   
Net Asset Value, offering price and redemption price per share ($422,621 ÷ 50,153 shares)  $8.43 
Class K:   
Net Asset Value, offering price and redemption price per share ($117,825 ÷ 13,969 shares)  $8.43 
Class K6:   
Net Asset Value, offering price and redemption price per share ($1,084,236 ÷ 128,593 shares)  $8.43 
Class I:   
Net Asset Value, offering price and redemption price per share ($234,842 ÷ 27,852 shares)  $8.43 
Class Z:   
Net Asset Value, offering price and redemption price per share ($96,390 ÷ 11,427 shares)  $8.44 
Class Z6:   
Net Asset Value, offering price and redemption price per share ($97,243 ÷ 11,524 shares)  $8.44 

 (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

  For the period
June 28, 2019 (commencement of operations) to
March 31, 2020 
Investment Income   
Dividends:   
Affiliated issuers  $28,494 
Income from Fidelity Central Funds  199 
Total income  28,693 
Expenses   
Management fee $5,135  
Distribution and service plan fees 1,848  
Independent trustees' fees and expenses  
Total expenses  6,986 
Net investment income (loss)  21,707 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Affiliated issuers (12,960)  
Capital gain distributions from underlying funds:   
Affiliated issuers 37,735  
Total net realized gain (loss)  24,775 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Affiliated issuers (447,855)  
Total change in net unrealized appreciation (depreciation)  (447,855) 
Net gain (loss)  (423,080) 
Net increase (decrease) in net assets resulting from operations  $(401,373) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 For the period
June 28, 2019 (commencement of operations) to
March 31, 2020 
Increase (Decrease) in Net Assets  
Operations  
Net investment income (loss) $21,707 
Net realized gain (loss) 24,775 
Change in net unrealized appreciation (depreciation) (447,855) 
Net increase (decrease) in net assets resulting from operations (401,373) 
Distributions to shareholders (42,997) 
Share transactions - net increase (decrease) 2,972,990 
Total increase (decrease) in net assets 2,528,620 
Net Assets  
Beginning of period – 
End of period $2,528,620 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Freedom Blend 2065 Fund Class A

Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .14 
Net realized and unrealized gain (loss) (1.43) 
Total from investment operations (1.29) 
Distributions from net investment income (.16) 
Distributions from net realized gain (.14) 
Total distributions (.29)C 
Net asset value, end of period $8.42 
Total ReturnD,E (13.48)% 
Ratios to Average Net AssetsF,G  
Expenses before reductions .79%H 
Expenses net of fee waivers, if any .79%H 
Expenses net of all reductions .79%H 
Net investment income (loss) 1.78%H 
Supplemental Data  
Net assets, end of period (000 omitted) $154 
Portfolio turnover rateG 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 of $.29 per share is comprised of distributions from net investment income of $.157 and distributions from net realized gain of $.135 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 G Amounts do not include the activity of Underlying Funds.

 H Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2065 Fund Class M

Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .12 
Net realized and unrealized gain (loss) (1.42) 
Total from investment operations (1.30) 
Distributions from net investment income (.14) 
Distributions from net realized gain (.14) 
Total distributions (.28) 
Net asset value, end of period $8.42 
Total ReturnC,D (13.60)% 
Ratios to Average Net AssetsE,F  
Expenses before reductions 1.05%G,H 
Expenses net of fee waivers, if any 1.05%G,H 
Expenses net of all reductions 1.05%G,H 
Net investment income (loss) 1.53%G 
Supplemental Data  
Net assets, end of period (000 omitted) $165 
Portfolio turnover rateF 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2065 Fund Class C

Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .08 
Net realized and unrealized gain (loss) (1.42) 
Total from investment operations (1.34) 
Distributions from net investment income (.12) 
Distributions from net realized gain (.14) 
Total distributions (.26) 
Net asset value, end of period $8.40 
Total ReturnC,D (13.94)% 
Ratios to Average Net AssetsE,F  
Expenses before reductions 1.55%G,H 
Expenses net of fee waivers, if any 1.55%G,H 
Expenses net of all reductions 1.55%G,H 
Net investment income (loss) 1.03%G 
Supplemental Data  
Net assets, end of period (000 omitted) $156 
Portfolio turnover rateF 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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

 H On certain classes, the size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2065 Fund

Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .15 
Net realized and unrealized gain (loss) (1.42) 
Total from investment operations (1.27) 
Distributions from net investment income (.17) 
Distributions from net realized gain (.14) 
Total distributions (.30)C 
Net asset value, end of period $8.43 
Total ReturnD (13.28)% 
Ratios to Average Net AssetsE,F  
Expenses before reductions .54%G 
Expenses net of fee waivers, if any .54%G 
Expenses net of all reductions .54%G 
Net investment income (loss) 2.03%G 
Supplemental Data  
Net assets, end of period (000 omitted) $423 
Portfolio turnover rateF 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 of $.30 per share is comprised of distributions from net investment income of $.169 and distributions from net realized gain of $.135 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2065 Fund Class K

Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .16 
Net realized and unrealized gain (loss) (1.43) 
Total from investment operations (1.27) 
Distributions from net investment income (.17) 
Distributions from net realized gain (.14) 
Total distributions (.30)C 
Net asset value, end of period $8.43 
Total ReturnD (13.30)% 
Ratios to Average Net AssetsE,F  
Expenses before reductions .44%G 
Expenses net of fee waivers, if any .44%G 
Expenses net of all reductions .44%G 
Net investment income (loss) 2.13%G 
Supplemental Data  
Net assets, end of period (000 omitted) $118 
Portfolio turnover rateF 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 of $.30 per share is comprised of distributions from net investment income of $.167 and distributions from net realized gain of $.135 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2065 Fund Class K6

Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .16 
Net realized and unrealized gain (loss) (1.42) 
Total from investment operations (1.26) 
Distributions from net investment income (.18) 
Distributions from net realized gain (.14) 
Total distributions (.31)C 
Net asset value, end of period $8.43 
Total ReturnD (13.20)% 
Ratios to Average Net AssetsE,F  
Expenses before reductions .34%G 
Expenses net of fee waivers, if any .34%G 
Expenses net of all reductions .34%G 
Net investment income (loss) 2.23%G 
Supplemental Data  
Net assets, end of period (000 omitted) $1,084 
Portfolio turnover rateF 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 of $.31 per share is comprised of distributions from net investment income of $.179 and distributions from net realized gain of $.135 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2065 Fund Class I

Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .15 
Net realized and unrealized gain (loss) (1.42) 
Total from investment operations (1.27) 
Distributions from net investment income (.16) 
Distributions from net realized gain (.14) 
Total distributions (.30) 
Net asset value, end of period $8.43 
Total ReturnC (13.34)% 
Ratios to Average Net AssetsD,E  
Expenses before reductions .54%F 
Expenses net of fee waivers, if any .54%F 
Expenses net of all reductions .54%F 
Net investment income (loss) 2.03%F 
Supplemental Data  
Net assets, end of period (000 omitted) $235 
Portfolio turnover rateE 29%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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2065 Fund Class Z

Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .16 
Net realized and unrealized gain (loss) (1.42) 
Total from investment operations (1.26) 
Distributions from net investment income (.17) 
Distributions from net realized gain (.14) 
Total distributions (.30)C 
Net asset value, end of period $8.44 
Total ReturnD (13.20)% 
Ratios to Average Net AssetsE,F  
Expenses before reductions .44%G 
Expenses net of fee waivers, if any .44%G 
Expenses net of all reductions .44%G 
Net investment income (loss) 2.13%G 
Supplemental Data  
Net assets, end of period (000 omitted) $96 
Portfolio turnover rateF 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 of $.30 per share is comprised of distributions from net investment income of $.166 and distributions from net realized gain of $.135 per share.

 D Total returns for periods of less than one year are not annualized.

 E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 F Amounts do not include the activity of Underlying Funds.

 G Annualized

See accompanying notes which are an integral part of the financial statements.


Fidelity Freedom Blend 2065 Fund Class Z6

Year ended March 31, 2020 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .17 
Net realized and unrealized gain (loss) (1.42) 
Total from investment operations (1.25) 
Distributions from net investment income (.17) 
Distributions from net realized gain (.14) 
Total distributions (.31) 
Net asset value, end of period $8.44 
Total ReturnC (13.16)% 
Ratios to Average Net AssetsD,E  
Expenses before reductions .34%F 
Expenses net of fee waivers, if any .34%F 
Expenses net of all reductions .34%F 
Net investment income (loss) 2.24%F 
Supplemental Data  
Net assets, end of period (000 omitted) $97 
Portfolio turnover rateE 29%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 Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer-term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the underlying funds in which the Fund invests.

 E Amounts do not include the activity of Underlying Funds.

 F Annualized

See accompanying notes which are an integral part of the financial statements.


Notes to Financial Statements

For the period ended March 31, 2020

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. The Funds invest primarily in a combination of other Fidelity equity, bond, and short-term funds (the Underlying Funds) managed by Fidelity Management & Research Company LLC (FMR).

Effective January 1, 2020:

Investment advisers Fidelity Investments Money Management, Inc., FMR Co., Inc., and Fidelity SelectCo, LLC, merged with and into Fidelity Management & Research Company. In connection with the merger transactions, the resulting, merged investment adviser was then redomiciled from Massachusetts to Delaware, changed its corporate structure from a corporation to a limited liability company, and changed its name to "Fidelity Management & Research Company LLC".

Broker-dealer Fidelity Distributors Corporation merged with and into Fidelity Investments Institutional Services Company, Inc. ("FIISC"). FIISC was then redomiciled from Massachusetts to Delaware, changed its corporate structure from a corporation to a limited liability company, and changed its name to "Fidelity Distributors Company LLC".

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 – Investments 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. The following summarizes the significant accounting policies of the Funds:

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 the Underlying 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 the Underlying Funds, if any, 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 the Underlying Funds. Although not included in each Fund's expenses, each Fund indirectly bears its proportionate share of the Underlying Funds' expenses through the impact of these expenses on each Underlying Fund's 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, 2020, 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 $44,501,029 $936,297 $(1,822,670) $(886,373) 
Fidelity Freedom Blend 2005 Fund 15,300,963 343,282 (805,952) (462,670) 
Fidelity Freedom Blend 2010 Fund 61,238,013 1,188,410 (4,350,715) (3,162,305) 
Fidelity Freedom Blend 2015 Fund 195,255,907 3,683,878 (16,569,366) (12,885,488) 
Fidelity Freedom Blend 2020 Fund 576,493,246 9,704,433 (57,555,734) (47,851,301) 
Fidelity Freedom Blend 2025 Fund 756,698,235 11,273,624 (84,165,758) (72,892,134) 
Fidelity Freedom Blend 2030 Fund 759,775,989 9,161,883 (96,106,072) (86,944,189) 
Fidelity Freedom Blend 2035 Fund 715,667,741 4,830,679 (107,826,168) (102,995,489) 
Fidelity Freedom Blend 2040 Fund 650,259,681 3,029,045 (105,447,225) (102,418,180) 
Fidelity Freedom Blend 2045 Fund 553,992,878 2,586,980 (89,892,669) (87,305,689) 
Fidelity Freedom Blend 2050 Fund 436,677,006 2,094,948 (70,193,136) (68,098,188) 
Fidelity Freedom Blend 2055 Fund 214,296,283 1,134,284 (34,200,412) (33,066,128) 
Fidelity Freedom Blend 2060 Fund 60,283,583 395,591 (9,505,350) (9,109,759) 
Fidelity Freedom Blend 2065 Fund 2,991,027 27,891 (490,254) (462,363) 

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 $81,038 $121,499 $(886,373) 
Fidelity Freedom Blend 2005 Fund 51,781 66,266 (462,670) 
Fidelity Freedom Blend 2010 Fund 301,647 254,734 (3,162,305) 
Fidelity Freedom Blend 2015 Fund 776,264 1,269,407 (12,885,488) 
Fidelity Freedom Blend 2020 Fund 2,203,081 4,263,948 (47,851,301) 
Fidelity Freedom Blend 2025 Fund 2,001,250 5,878,009 (72,892,134) 
Fidelity Freedom Blend 2030 Fund 1,671,018 6,486,822 (86,944,189) 
Fidelity Freedom Blend 2035 Fund 1,221,440 7,280,309 (102,995,489) 
Fidelity Freedom Blend 2040 Fund 606,429 7,008,657 (102,418,180) 
Fidelity Freedom Blend 2045 Fund 729,226 5,776,653 (87,305,689) 
Fidelity Freedom Blend 2050 Fund 417,738 4,444,354 (68,098,188) 
Fidelity Freedom Blend 2055 Fund 126,004 1,921,422 (33,066,128) 
Fidelity Freedom Blend 2060 Fund 12,904 437,202 (9,109,759) 
Fidelity Freedom Blend 2065 Fund 459 17,531 (462,363) 

The tax character of distributions paid was as follows:

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.

March 31, 2019(a)    
 Ordinary Income Long-term Capital Gains Total 
Fidelity Freedom Blend Income Fund $22,760 $1,834 $24,594 
Fidelity Freedom Blend 2005 Fund 12,566 3,062 15,628 
Fidelity Freedom Blend 2010 Fund 14,253 4,324 18,577 
Fidelity Freedom Blend 2015 Fund 17,733 5,221 22,954 
Fidelity Freedom Blend 2020 Fund 20,764 6,526 27,290 
Fidelity Freedom Blend 2025 Fund 22,001 7,519 29,520 
Fidelity Freedom Blend 2030 Fund 17,786 9,425 27,211 
Fidelity Freedom Blend 2035 Fund 23,081 10,632 33,713 
Fidelity Freedom Blend 2040 Fund 19,601 11,710 31,311 
Fidelity Freedom Blend 2045 Fund 27,675 12,202 39,877 
Fidelity Freedom Blend 2050 Fund 17,198 11,596 28,794 
Fidelity Freedom Blend 2055 Fund 16,884 11,570 28,454 
Fidelity Freedom Blend 2060 Fund 18,947 11,615 30,562 

 (a) For the period August 31, 2018 (commencement of operations) to March 31, 2019.

4. Purchases and Sales of Investments.

Purchases and sales of securities (including the Underlying Fund shares), other than short-term securities, are noted in the table below.

 Purchases ($) Sales ($) 
Fidelity Freedom Blend Income Fund 55,847,936 14,141,614 
Fidelity Freedom Blend 2005 Fund 21,426,743 8,221,082 
Fidelity Freedom Blend 2010 Fund 78,713,585 20,288,586 
Fidelity Freedom Blend 2015 Fund 250,455,158 65,268,444 
Fidelity Freedom Blend 2020 Fund 741,392,395 190,773,840 
Fidelity Freedom Blend 2025 Fund 918,176,257 206,979,052 
Fidelity Freedom Blend 2030 Fund 914,790,154 181,252,992 
Fidelity Freedom Blend 2035 Fund 858,951,028 170,239,260 
Fidelity Freedom Blend 2040 Fund 768,003,946 135,000,280 
Fidelity Freedom Blend 2045 Fund 654,055,752 110,991,761 
Fidelity Freedom Blend 2050 Fund 508,847,780 81,476,625 
Fidelity Freedom Blend 2055 Fund 242,791,810 33,604,313 
Fidelity Freedom Blend 2060 Fund 65,488,834 7,801,206 
Fidelity Freedom Blend 2065 Fund 3,315,623 326,144 

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 .50% .40% 
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 .30% 
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% $989 $813 
Class M .25% .25% 1,241 496 
Class C .75% .25% 1,624 1,225 
   $3,854 $2,534 
Fidelity Freedom Blend 2005 Fund     
Class A -% .25% $603 $262 
Class M .25% .25% 564 526 
Class C .75% .25% 1,291 1,121 
   $2,458 $1,909 
Fidelity Freedom Blend 2010 Fund     
Class A -% .25% $473 $262 
Class M .25% .25% 1,006 522 
Class C .75% .25% 1,136 1,072 
   $2,615 $1,856 
Fidelity Freedom Blend 2015 Fund     
Class A -% .25% $802 $255 
Class M .25% .25% 558 523 
Class C .75% .25% 1,941 1,452 
   $3,301 $2,230 
Fidelity Freedom Blend 2020 Fund     
Class A -% .25% $3,711 $539 
Class M .25% .25% 846 532 
Class C .75% .25% 5,372 2,991 
   $9,929 $4,062 
Fidelity Freedom Blend 2025 Fund     
Class A -% .25% $2,949 $1,398 
Class M .25% .25% 3,203 493 
Class C .75% .25% 3,791 2,183 
   $9,943 $4,074 
Fidelity Freedom Blend 2030 Fund     
Class A -% .25% $2,221 $463 
Class M .25% .25% 3,157 765 
Class C .75% .25% 4,945 4,133 
   $10,323 $5,361 
Fidelity Freedom Blend 2035 Fund     
Class A -% .25% $1,723 $433 
Class M .25% .25% 1,246 498 
Class C .75% .25% 2,780 1,890 
   $5,749 $2,821 
Fidelity Freedom Blend 2040 Fund     
Class A -% .25% $1,159 $264 
Class M .25% .25% 1,088 492 
Class C .75% .25% 2,971 1,878 
   $5,218 $2,634 
Fidelity Freedom Blend 2045 Fund     
Class A -% .25% $1,589 $656 
Class M .25% .25% 1,832 503 
Class C .75% .25% 2,235 1,726 
   $5,656 $2,885 
Fidelity Freedom Blend 2050 Fund     
Class A -% .25% $1,378 $756 
Class M .25% .25% 1,227 496 
Class C .75% .25% 2,952 2,408 
   $5,557 $3,660 
Fidelity Freedom Blend 2055 Fund     
Class A -% .25% $776 $385 
Class M .25% .25% 810 562 
Class C .75% .25% 1,475 1,431 
   $3,061 $2,378 
Fidelity Freedom Blend 2060 Fund     
Class A -% .25% $1,053 $300 
Class M .25% .25% 756 512 
Class C .75% .25% 1,691 1,682 
   $3,500 $2,494 
Fidelity Freedom Blend 2065 Fund     
Class A -% .25% $248 $221 
Class M .25% .25% 512 428 
Class C .75% .25% 1,088 893 
   $1,848 $1,542 

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 $259 
Class M 242 
 $501 
Fidelity Freedom Blend 2005 Fund  
Class A $6 
 $6 
Fidelity Freedom Blend 2015 Fund  
Class A $255 
Class M 
 $258 
Fidelity Freedom Blend 2020 Fund  
Class A $496 
Class M 203 
Class C(a) 149 
 $848 
Fidelity Freedom Blend 2025 Fund  
Class A $1,305 
Class M 1,359 
Class C(a) 250 
 $2,914 
Fidelity Freedom Blend 2030 Fund  
Class A $2,523 
Class M 1,627 
Class C(a) 309 
 $4,459 
Fidelity Freedom Blend 2035 Fund  
Class A $1,636 
Class M 427 
Class C(a) 
 $2,068 
Fidelity Freedom Blend 2040 Fund  
Class A $2,818 
Class M 314 
Class C(a) 36 
 $3,168 
Fidelity Freedom Blend 2045 Fund  
Class A $2,940 
Class M 771 
Class C(a) 73 
 $3,784 
Fidelity Freedom Blend 2050 Fund  
Class A $1,430 
Class M 1,162 
Class C(a) 264 
 $2,856 
Fidelity Freedom Blend 2055 Fund  
Class A $1,266 
Class M 775 
Class C(a) 57 
 $2,098 
Fidelity Freedom Blend 2060 Fund  
Class A $1,726 
Class M 354 
Class C(a) 44 
 $2,124 
Fidelity Freedom Blend 2065 Fund  
Class A $1,080 
Class M 144 
 $1,224 

 (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. 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 certain 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 Blend Income Fund $126 
Fidelity Freedom Blend 2005 Fund 45 
Fidelity Freedom Blend 2010 Fund 151 
Fidelity Freedom Blend 2015 Fund 474 
Fidelity Freedom Blend 2020 Fund 1,263 
Fidelity Freedom Blend 2025 Fund 1,346 
Fidelity Freedom Blend 2030 Fund 1,083 
Fidelity Freedom Blend 2035 Fund 359 
Fidelity Freedom Blend 2040 Fund 58 
Fidelity Freedom Blend 2045 Fund 49 
Fidelity Freedom Blend 2050 Fund 38 
Fidelity Freedom Blend 2055 Fund 19 
Fidelity Freedom Blend 2060 Fund 

6. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

 Year ended
March 31, 2020 
Year ended
March 31, 2019(a) 
Fidelity Freedom Blend Income Fund   
Distributions to shareholders   
Class A $8,738 $1,681 
Class M 5,135 1,415 
Class C 2,540 2,260 
Fidelity Freedom Blend Income Fund 32,325 6,229 
Class K 6,526 1,739 
Class K6 775,252 6,084 
Class I 2,636 1,678 
Class Z 2,493 1,739 
Class Z6 2,650 1,769 
Total $838,295 $24,594 
Fidelity Freedom Blend 2005 Fund   
Distributions to shareholders   
Class A $5,423 $3,022 
Class M 1,990 1,450 
Class C 2,254 1,280 
Fidelity Freedom Blend 2005 Fund 23,445 1,646 
Class K 3,270 1,640 
Class K6 300,610 1,670 
Class I 12,666 1,610 
Class Z 2,484 1,640 
Class Z6 2,587 1,670 
Total $354,729 $15,628 
Fidelity Freedom Blend 2010 Fund   
Distributions to shareholders   
Class A $4,117 $2,983 
Class M 3,946 2,145 
Class C 2,008 1,510 
Fidelity Freedom Blend 2010 Fund 36,055 2,609 
Class K 166,144 1,860 
Class K6 1,219,643 1,890 
Class I 7,112 1,830 
Class Z 2,427 1,860 
Class Z6 2,623 1,890 
Total $1,444,075 $18,577 
Fidelity Freedom Blend 2015 Fund   
Distributions to shareholders   
Class A $10,755 $1,630 
Class M 2,598 1,550 
Class C 3,226 3,292 
Fidelity Freedom Blend 2015 Fund 138,729 7,732 
Class K 159,590 1,740 
Class K6 4,932,297 1,780 
Class I 95,191 1,710 
Class Z 2,853 1,740 
Class Z6 8,996 1,780 
Total $5,354,235 $22,954 
Fidelity Freedom Blend 2020 Fund   
Distributions to shareholders   
Class A $52,542 $3,550 
Class M 4,631 1,044 
Class C 13,577 1,516 
Fidelity Freedom Blend 2020 Fund 229,606 15,010 
Class K 809,512 1,230 
Class K6 15,685,257 1,260 
Class I 88,112 1,190 
Class Z 3,071 1,230 
Class Z6 6,382 1,260 
Total $16,892,690 $27,290 
Fidelity Freedom Blend 2025 Fund   
Distributions to shareholders   
Class A $40,279 $2,341 
Class M 8,783 1,801 
Class C 11,457 1,630 
Fidelity Freedom Blend 2025 Fund 213,672 13,758 
Class K 799,085 1,980 
Class K6 21,003,005 2,010 
Class I 174,303 1,950 
Class Z 3,260 1,980 
Class Z6 12,966 2,070 
Total $22,266,810 $29,520 
Fidelity Freedom Blend 2030 Fund   
Distributions to shareholders   
Class A $34,389 $3,141 
Class M 19,154 2,398 
Class C 12,929 4,285 
Fidelity Freedom Blend 2030 Fund 162,703 4,487 
Class K 769,504 2,570 
Class K6 21,676,270 2,610 
Class I 159,078 2,540 
Class Z 3,705 2,570 
Class Z6 18,455 2,610 
Total $22,856,187 $27,211 
Fidelity Freedom Blend 2035 Fund   
Distributions to shareholders   
Class A $32,283 $2,922 
Class M 8,010 4,429 
Class C 8,721 2,270 
Fidelity Freedom Blend 2035 Fund 134,952 10,992 
Class K 598,323 2,610 
Class K6 22,128,385 2,650 
Class I 113,319 2,580 
Class Z 9,587 2,610 
Class Z6 10,155 2,650 
Total $23,043,735 $33,713 
Fidelity Freedom Blend 2040 Fund   
Distributions to shareholders   
Class A $19,594 $5,605 
Class M 5,585 2,729 
Class C 10,160 2,427 
Fidelity Freedom Blend 2040 Fund 121,223 6,700 
Class K 516,568 2,760 
Class K6 19,412,655 2,800 
Class I 81,386 2,730 
Class Z 3,583 2,760 
Class Z6 5,310 2,800 
Total $20,176,064 $31,311 
Fidelity Freedom Blend 2045 Fund   
Distributions to shareholders   
Class A $27,494 $3,446 
Class M 7,045 4,165 
Class C 6,265 2,591 
Fidelity Freedom Blend 2045 Fund 68,591 16,095 
Class K 461,012 2,710 
Class K6 16,369,836 2,740 
Class I 88,782 2,680 
Class Z 3,619 2,710 
Class Z6 5,334 2,740 
Total $17,037,978 $39,877 
Fidelity Freedom Blend 2050 Fund   
Distributions to shareholders   
Class A $19,819 $3,316 
Class M 8,625 2,930 
Class C 9,876 2,770 
Fidelity Freedom Blend 2050 Fund 60,239 4,148 
Class K 308,941 3,120 
Class K6 11,994,804 3,150 
Class I 96,721 3,090 
Class Z 3,453 3,120 
Class Z6 4,367 3,150 
Total $12,506,845 $28,794 
Fidelity Freedom Blend 2055 Fund   
Distributions to shareholders   
Class A $11,061 $3,064 
Class M 4,435 2,982 
Class C 4,029 2,820 
Fidelity Freedom Blend 2055 Fund 22,905 3,718 
Class K 153,497 3,170 
Class K6 4,851,113 3,200 
Class I 50,084 3,130 
Class Z 3,207 3,170 
Class Z6 5,156 3,200 
Total $5,105,487 $28,454 
Fidelity Freedom Blend 2060 Fund   
Distributions to shareholders   
Class A $12,880 $2,862 
Class M 4,107 2,764 
Class C 4,470 2,612 
Fidelity Freedom Blend 2060 Fund 29,908 7,540 
Class K 38,953 2,950 
Class K6 1,010,306 2,980 
Class I 25,016 2,924 
Class Z 3,118 2,950 
Class Z6 3,250 2,980 
Total $1,132,008 $30,562 
Fidelity Freedom Blend 2065 Fund   
Distributions to shareholders(b)   
Class A $4,538 $– 
Class M 3,736 – 
Class C 4,126 – 
Fidelity Freedom Blend 2065 Fund 7,111 – 
Class K 3,966 – 
Class K6 9,439 – 
Class I 3,337 – 
Class Z 3,344 – 
Class Z6 3,400 – 
Total $42,997 $– 

 (a) For the period August 31, 2018 (commencement of operations) to March 31, 2019.

 (b) For the period June 28, 2019 (commencement of operations) to March 31, 2020.

7. 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, 2020 Year ended March 31, 2019(a) Year ended March 31, 2020 Year ended March 31, 2019(a) 
Fidelity Freedom Blend Income Fund     
Class A     
Shares sold 62,555 10,990 $638,682 $109,675 
Reinvestment of distributions 843 173 8,738 1,681 
Shares redeemed (3,991) (499) (40,199) (5,000) 
Net increase (decrease) 59,407 10,664 $607,221 $106,356 
Class M     
Shares sold 26,230 10,000 $269,516 $100,000 
Reinvestment of distributions 495 146 5,135 1,415 
Shares redeemed (21,272) – (214,074) – 
Net increase (decrease) 5,453 10,146 $60,577 $101,415 
Class C     
Shares sold 12,316 18,568 $127,258 $183,283 
Reinvestment of distributions 245 234 2,540 2,260 
Shares redeemed (1,986) (6,500) (20,608) (65,000) 
Net increase (decrease) 10,575 12,302 $109,190 $120,543 
Fidelity Freedom Blend Income Fund     
Shares sold 422,104 70,586 $4,378,184 $691,454 
Reinvestment of distributions 3,109 608 32,325 5,886 
Shares redeemed (189,533) (33,487) (1,961,292) (327,744) 
Net increase (decrease) 235,680 37,707 $2,449,217 $369,596 
Class K     
Shares sold 29,755 10,000 $309,910 $100,000 
Reinvestment of distributions 628 179 6,526 1,739 
Shares redeemed (113) – (1,186) – 
Net increase (decrease) 30,270 10,179 $315,250 $101,739 
Class K6     
Shares sold 4,799,951 168,319 $48,890,496 $1,629,815 
Reinvestment of distributions 74,806 620 775,252 6,084 
Shares redeemed (1,147,013) (3,760) (11,817,975) (36,389) 
Net increase (decrease) 3,727,744 165,179 $37,847,773 $1,599,510 
Class I     
Shares sold 15,112 10,000 $157,824 $100,000 
Reinvestment of distributions 254 173 2,636 1,678 
Shares redeemed (1,325) – (13,883) – 
Net increase (decrease) 14,041 10,173 $146,577 $101,678 
Class Z     
Shares sold – 10,000 $– $100,000 
Reinvestment of distributions 241 179 2,493 1,739 
Net increase (decrease) 241 10,179 $2,493 $101,739 
Class Z6     
Shares sold 5,361 10,000 $56,499 $100,000 
Reinvestment of distributions 256 182 2,650 1,769 
Shares redeemed (379) – (3,907) – 
Net increase (decrease) 5,238 10,182 $55,242 $101,769 
Fidelity Freedom Blend 2005 Fund     
Class A     
Shares sold 11,122 18,563 $112,530 $182,296 
Reinvestment of distributions 521 319 5,423 3,022 
Shares redeemed (3,711) (147) (36,690) (1,392) 
Net increase (decrease) 7,932 18,735 $81,263 $183,926 
Class M     
Shares sold 4,369 10,000 $45,522 $100,000 
Reinvestment of distributions 191 153 1,990 1,450 
Shares redeemed (3,754) – (37,013) – 
Net increase (decrease) 806 10,153 $10,499 $101,450 
Class C     
Shares sold 16,140 10,000 $161,085 $100,000 
Reinvestment of distributions 217 135 2,254 1,280 
Shares redeemed (419) – (4,103) – 
Net increase (decrease) 15,938 10,135 $159,236 $101,280 
Fidelity Freedom Blend 2005 Fund     
Shares sold 279,891 11,014 $2,857,879 $110,028 
Reinvestment of distributions 2,253 173 23,445 1,646 
Shares redeemed (179,100) (77) (1,816,731) (750) 
Net increase (decrease) 103,044 11,110 $1,064,593 $110,924 
Class K     
Shares sold 7,581 10,000 $76,209 $100,000 
Reinvestment of distributions 314 173 3,270 1,640 
Shares redeemed (21) – (201) – 
Net increase (decrease) 7,874 10,173 $79,278 $101,640 
Class K6     
Shares sold 1,882,369 117,462 $19,120,279 $1,125,955 
Reinvestment of distributions 28,850 176 300,610 1,670 
Shares redeemed (813,267) (25) (8,297,598) (241) 
Net increase (decrease) 1,097,952 117,613 $11,123,291 $1,127,384 
Class I     
Shares sold 61,852 10,051 $643,522 $100,500 
Reinvestment of distributions 1,215 170 12,666 1,610 
Shares redeemed (3,132) (51) (32,974) (499) 
Net increase (decrease) 59,935 10,170 $623,214 $101,611 
Class Z     
Shares sold – 10,000 $– $100,000 
Reinvestment of distributions 238 173 2,484 1,640 
Net increase (decrease) 238 10,173 $2,484 $101,640 
Class Z6     
Shares sold 448 10,000 $4,680 $100,000 
Reinvestment of distributions 248 176 2,587 1,670 
Shares redeemed (1) – (7) – 
Net increase (decrease) 695 10,176 $7,260 $101,670 
Fidelity Freedom Blend 2010 Fund     
Class A     
Shares sold 5,025 16,826 $50,531 $166,073 
Reinvestment of distributions 394 320 4,117 2,983 
Shares redeemed (2,458) (435) (22,933) (4,175) 
Net increase (decrease) 2,961 16,711 $31,715 $164,881 
Class M     
Shares sold 16,393 12,472 $168,719 $123,732 
Reinvestment of distributions 378 230 3,946 2,145 
Shares redeemed (2,618) – (24,213) – 
Net increase (decrease) 14,153 12,702 $148,452 $125,877 
Class C     
Shares sold 1,860 10,000 $19,065 $100,000 
Reinvestment of distributions 192 162 2,008 1,510 
Net increase (decrease) 2,052 10,162 $21,073 $101,510 
Fidelity Freedom Blend 2010 Fund     
Shares sold 347,271 14,603 $3,601,555 $145,000 
Reinvestment of distributions 3,451 280 36,055 2,609 
Shares redeemed (137,893) – (1,430,093) – 
Net increase (decrease) 212,829 14,883 $2,207,517 $147,609 
Class K     
Shares sold 659,888 10,000 $6,824,771 $100,000 
Reinvestment of distributions 15,884 199 166,144 1,860 
Shares redeemed (32,064) – (329,148) – 
Net increase (decrease) 643,708 10,199 $6,661,767 $101,860 
Class K6     
Shares sold 6,005,660 313,573 $60,620,115 $3,001,673 
Reinvestment of distributions 116,622 203 1,219,643 1,890 
Shares redeemed (1,315,490) (143,149) (13,382,189) (1,388,852) 
Net increase (decrease) 4,806,792 170,627 $48,457,569 $1,614,711 
Class I     
Shares sold 37,258 10,000 $387,686 $100,000 
Reinvestment of distributions 680 196 7,112 1,830 
Shares redeemed (1,271) – (13,355) – 
Net increase (decrease) 36,667 10,196 $381,443 $101,830 
Class Z     
Shares sold – 10,000 $– $100,000 
Reinvestment of distributions 232 199 2,427 1,860 
Net increase (decrease) 232 10,199 $2,427 $101,860 
Class Z6     
Shares sold 33,688 10,000 $356,908 $100,000 
Reinvestment of distributions 250 203 2,623 1,890 
Shares redeemed (14,537) – (152,360) – 
Net increase (decrease) 19,401 10,203 $207,171 $101,890 
Fidelity Freedom Blend 2015 Fund     
Class A     
Shares sold 28,250 19,467 $293,223 $193,535 
Reinvestment of distributions 837 177 8,766 1,630 
Shares redeemed (12,078) – (114,023) – 
Net increase (decrease) 17,009 19,644 $187,966 $195,165 
Class M     
Shares sold 889 10,000 $9,027 $100,000 
Reinvestment of distributions 248 168 2,598 1,550 
Net increase (decrease) 1,137 10,168 $11,625 $101,550 
Class C     
Shares sold 36,356 23,897 $359,968 $230,277 
Reinvestment of distributions 309 358 3,226 3,292 
Shares redeemed (1,494) (9,626) (15,824) (94,714) 
Net increase (decrease) 35,171 14,629 $347,370 $138,855 
Fidelity Freedom Blend 2015 Fund     
Shares sold 1,342,090 46,537 $13,848,094 $453,571 
Reinvestment of distributions 13,245 839 138,673 7,732 
Shares redeemed (508,223) (176) (5,227,808) (1,698) 
Net increase (decrease) 847,112 47,200 $8,758,959 $459,605 
Class K     
Shares sold 807,937 10,000 $8,362,163 $100,000 
Reinvestment of distributions 15,228 189 159,590 1,740 
Shares redeemed (183,022) – (1,891,984) – 
Net increase (decrease) 640,143 10,189 $6,629,769 $101,740 
Class K6     
Shares sold 19,726,381 935,723 $198,186,726 $8,831,932 
Reinvestment of distributions 470,564 193 4,932,297 1,780 
Shares redeemed (3,853,351) (112,769) (39,415,063) (1,093,561) 
Net increase (decrease) 16,343,594 823,147 $163,703,960 $7,740,151 
Class I     
Shares sold 372,907 10,000 $3,909,828 $100,000 
Reinvestment of distributions 9,101 186 95,191 1,710 
Shares redeemed (11,553) – (114,498) – 
Net increase (decrease) 370,455 10,186 $3,890,521 $101,710 
Class Z     
Shares sold – 10,000 $– $100,000 
Reinvestment of distributions 272 189 2,853 1,740 
Net increase (decrease) 272 10,189 $2,853 $101,740 
Class Z6     
Shares sold 77,326 10,000 $792,258 $100,000 
Reinvestment of distributions 858 193 8,996 1,780 
Shares redeemed (17,875) – (168,239) – 
Net increase (decrease) 60,309 10,193 $633,015 $101,780 
Fidelity Freedom Blend 2020 Fund     
Class A     
Shares sold 210,830 90,623 $2,137,244 $866,540 
Reinvestment of distributions 4,985 388 52,542 3,550 
Shares redeemed (153,051) (846) (1,532,924) (8,100) 
Net increase (decrease) 62,764 90,165 $656,862 $861,990 
Class M     
Shares sold 22,771 10,649 $238,437 $106,358 
Reinvestment of distributions 439 114 4,631 1,044 
Shares redeemed (5,246) (30) (51,676) (281) 
Net increase (decrease) 17,964 10,733 $191,392 $107,121 
Class C     
Shares sold 32,007 38,753 $327,258 $379,766 
Reinvestment of distributions 1,291 166 13,577 1,516 
Shares redeemed (27,669) – (294,717) – 
Net increase (decrease) 5,629 38,919 $46,118 $381,282 
Fidelity Freedom Blend 2020 Fund     
Shares sold 3,071,141 202,319 $31,827,871 $1,911,655 
Reinvestment of distributions 21,350 1,642 225,245 15,010 
Shares redeemed (1,155,853) (86,207) (11,831,997) (829,813) 
Net increase (decrease) 1,936,638 117,754 $20,221,119 $1,096,852 
Class K     
Shares sold 2,837,630 10,000 $29,553,993 $100,000 
Reinvestment of distributions 76,658 134 809,512 1,230 
Shares redeemed (411,861) – (4,345,988) – 
Net increase (decrease) 2,502,427 10,134 $26,017,517 $101,230 
Class K6     
Shares sold 58,938,931 2,552,418 $593,707,590 $23,902,190 
Reinvestment of distributions 1,483,753 138 15,685,257 1,260 
Shares redeemed (11,477,811) (433,337) (117,101,198) (4,233,776) 
Net increase (decrease) 48,944,873 2,119,219 $492,291,649 $19,669,674 
Class I     
Shares sold 589,216 12,024 $6,185,794 $120,000 
Reinvestment of distributions 8,344 130 88,112 1,190 
Shares redeemed (54,803) – (521,841) – 
Net increase (decrease) 542,757 12,154 $5,752,065 $121,190 
Class Z     
Shares sold 2,526 10,000 $27,000 $100,000 
Reinvestment of distributions 290 134 3,071 1,230 
Net increase (decrease) 2,816 10,134 $30,071 $101,230 
Class Z6     
Shares sold 447,539 16,287 $4,712,064 $161,553 
Reinvestment of distributions 603 138 6,382 1,260 
Shares redeemed (266,580) (6,287) (2,446,908) (61,239) 
Net increase (decrease) 181,562 10,138 $2,271,538 $101,574 
Fidelity Freedom Blend 2025 Fund     
Class A     
Shares sold 219,652 18,014 $2,222,602 $175,792 
Reinvestment of distributions 3,840 261 40,279 2,341 
Shares redeemed (53,075) (1,119) (530,975) (10,301) 
Net increase (decrease) 170,417 17,156 $1,731,906 $167,832 
Class M     
Shares sold 75,724 75,789 $798,244 $737,334 
Reinvestment of distributions 833 200 8,783 1,801 
Shares redeemed (55,530) – (565,093) – 
Net increase (decrease) 21,027 75,989 $241,934 $739,135 
Class C     
Shares sold 32,708 31,302 $320,136 $305,603 
Reinvestment of distributions 1,095 181 11,457 1,630 
Shares redeemed (12,041) (1,076) (121,855) (10,218) 
Net increase (decrease) 21,762 30,407 $209,738 $297,015 
Fidelity Freedom Blend 2025 Fund     
Shares sold 2,937,252 195,169 $30,409,391 $1,876,769 
Reinvestment of distributions 20,195 1,532 211,842 13,758 
Shares redeemed (790,375) (31,642) (8,102,956) (307,029) 
Net increase (decrease) 2,167,072 165,059 $22,518,277 $1,583,498 
Class K     
Shares sold 3,101,173 10,000 $31,910,064 $100,000 
Reinvestment of distributions 76,103 220 799,085 1,980 
Shares redeemed (549,601) – (5,393,857) – 
Net increase (decrease) 2,627,675 10,220 $27,315,292 $101,980 
Class K6     
Shares sold 70,458,538 4,331,747 $703,260,058 $40,063,466 
Reinvestment of distributions 1,997,769 224 21,003,005 2,010 
Shares redeemed (8,245,281) (180,792) (81,859,127) (1,728,766) 
Net increase (decrease) 64,211,026 4,151,179 $642,403,936 $38,336,710 
Class I     
Shares sold 909,969 10,000 $9,435,700 $100,000 
Reinvestment of distributions 16,616 217 174,303 1,950 
Shares redeemed (92,290) – (947,828) – 
Net increase (decrease) 834,295 10,217 $8,662,175 $101,950 
Class Z     
Shares sold – 10,000 $– $100,000 
Reinvestment of distributions 310 220 3,260 1,980 
Net increase (decrease) 310 10,220 $3,260 $101,980 
Class Z6     
Shares sold 443,762 10,301 $4,623,108 $103,000 
Reinvestment of distributions 1,234 230 12,966 2,070 
Shares redeemed (43,344) – (446,904) – 
Net increase (decrease) 401,652 10,531 $4,189,170 $105,070 
Fidelity Freedom Blend 2030 Fund     
Class A     
Shares sold 222,484 35,559 $2,218,980 $338,052 
Reinvestment of distributions 3,300 359 34,389 3,141 
Shares redeemed (89,605) – (829,687) – 
Net increase (decrease) 136,179 35,918 $1,423,682 $341,193 
Class M     
Shares sold 212,482 19,237 $2,218,002 $188,421 
Reinvestment of distributions 1,840 274 19,154 2,398 
Shares redeemed (120,923) (1,939) (1,251,910) (18,770) 
Net increase (decrease) 93,399 17,572 $985,246 $172,049 
Class C     
Shares sold 96,524 26,381 $852,234 $252,448 
Reinvestment of distributions 1,243 490 12,929 4,285 
Shares redeemed (12,142) – (123,032) – 
Net increase (decrease) 85,625 26,871 $742,131 $256,733 
Fidelity Freedom Blend 2030 Fund     
Shares sold 2,219,255 88,686 $22,724,146 $846,378 
Reinvestment of distributions 15,582 512 162,525 4,487 
Shares redeemed (282,422) (10,519) (2,812,945) (100,972) 
Net increase (decrease) 1,952,415 78,679 $20,073,726 $749,893 
Class K     
Shares sold 2,663,047 10,000 $26,975,778 $100,000 
Reinvestment of distributions 73,778 293 769,504 2,570 
Shares redeemed (295,302) – (2,979,983) – 
Net increase (decrease) 2,441,523 10,293 $24,765,299 $102,570 
Class K6     
Shares sold 71,449,167 2,344,828 $703,759,303 $21,161,628 
Reinvestment of distributions 2,075,308 298 21,676,270 2,610 
Shares redeemed (6,220,182) (98,703) (60,775,687) (935,205) 
Net increase (decrease) 67,304,293 2,246,423 $664,659,886 $20,229,033 
Class I     
Shares sold 1,330,677 10,000 $13,669,900 $100,000 
Reinvestment of distributions 15,252 290 159,078 2,540 
Shares redeemed (162,714) – (1,623,820) – 
Net increase (decrease) 1,183,215 10,290 $12,205,158 $102,540 
Class Z     
Shares sold 5,262 10,000 $55,731 $100,000 
Reinvestment of distributions 355 293 3,705 2,570 
Net increase (decrease) 5,617 10,293 $59,436 $102,570 
Class Z6     
Shares sold 456,774 103,038 $4,726,736 $988,511 
Reinvestment of distributions 1,766 298 18,455 2,610 
Shares redeemed (52,856) (65,359) (476,266) (622,873) 
Net increase (decrease) 405,684 37,977 $4,268,925 $368,248 
Fidelity Freedom Blend 2035 Fund     
Class A     
Shares sold 74,994 36,896 $759,705 $353,952 
Reinvestment of distributions 3,098 341 32,283 2,922 
Shares redeemed (21,952) (12) (212,265) (103) 
Net increase (decrease) 56,140 37,225 $579,723 $356,771 
Class M     
Shares sold 35,509 17,984 $361,165 $173,296 
Reinvestment of distributions 769 517 8,010 4,429 
Shares redeemed (20,415) – (213,271) – 
Net increase (decrease) 15,863 18,501 $155,904 $177,725 
Class C     
Shares sold 11,572 21,319 $114,935 $207,251 
Reinvestment of distributions 838 265 8,721 2,270 
Shares redeemed (1,519) – (15,601) – 
Net increase (decrease) 10,891 21,584 $108,055 $209,521 
Fidelity Freedom Blend 2035 Fund     
Shares sold 1,936,875 122,967 $19,814,978 $1,168,626 
Reinvestment of distributions 12,930 1,284 134,860 10,992 
Shares redeemed (321,953) (21,782) (3,252,705) (206,991) 
Net increase (decrease) 1,627,852 102,469 $16,697,133 $972,627 
Class K     
Shares sold 1,894,188 10,000 $18,850,169 $100,000 
Reinvestment of distributions 57,311 305 598,323 2,610 
Shares redeemed (75,633) – (760,821) – 
Net increase (decrease) 1,875,866 10,305 $18,687,671 $102,610 
Class K6     
Shares sold 68,941,798 2,453,196 $674,125,737 $21,896,411 
Reinvestment of distributions 2,118,650 309 22,128,385 2,650 
Shares redeemed (6,081,849) (70,699) (58,379,394) (651,805) 
Net increase (decrease) 64,978,599 2,382,806 $637,874,728 $21,247,256 
Class I     
Shares sold 802,010 10,888 $8,214,796 $108,315 
Reinvestment of distributions 10,865 301 113,319 2,580 
Shares redeemed (138,887) – (1,371,432) – 
Net increase (decrease) 673,988 11,189 $6,956,683 $110,895 
Class Z     
Shares sold 15,166 10,440 $152,875 $103,942 
Reinvestment of distributions 918 305 9,587 2,610 
Net increase (decrease) 16,084 10,745 $162,462 $106,552 
Class Z6     
Shares sold 274,462 10,000 $2,848,481 $100,000 
Reinvestment of distributions 972 309 10,155 2,650 
Shares redeemed (32,970) – (309,622) – 
Net increase (decrease) 242,464 10,309 $2,549,014 $102,650 
Fidelity Freedom Blend 2040 Fund     
Class A     
Shares sold 60,630 26,037 $596,550 $245,967 
Reinvestment of distributions 1,884 661 19,594 5,605 
Shares redeemed (5,252) – (54,714) – 
Net increase (decrease) 57,262 26,698 $561,430 $251,572 
Class M     
Shares sold 38,917 13,392 $406,464 $131,419 
Reinvestment of distributions 536 321 5,585 2,729 
Shares redeemed (14,723) – (138,164) – 
Net increase (decrease) 24,730 13,713 $273,885 $134,148 
Class C     
Shares sold 24,274 21,513 $235,367 $208,602 
Reinvestment of distributions 978 286 10,160 2,427 
Shares redeemed (3,808) – (38,081) – 
Net increase (decrease) 21,444 21,799 $207,446 $211,029 
Fidelity Freedom Blend 2040 Fund     
Shares sold 1,965,272 61,771 $20,064,811 $580,805 
Reinvestment of distributions 11,629 790 121,169 6,700 
Shares redeemed (212,164) (821) (2,040,180) (7,718) 
Net increase (decrease) 1,764,737 61,740 $18,145,800 $579,787 
Class K     
Shares sold 1,855,388 10,000 $18,520,673 $100,000 
Reinvestment of distributions 49,527 325 516,568 2,760 
Shares redeemed (82,653) – (837,026) – 
Net increase (decrease) 1,822,262 10,325 $18,200,215 $102,760 
Class K6     
Shares sold 62,771,495 1,662,001 $609,899,448 $14,644,554 
Reinvestment of distributions 1,860,502 330 19,412,655 2,800 
Shares redeemed (4,823,088) (98,949) (46,032,380) (913,258) 
Net increase (decrease) 59,808,909 1,563,382 $583,279,723 $13,734,096 
Class I     
Shares sold 573,473 10,124 $5,791,423 $101,151 
Reinvestment of distributions 7,811 322 81,386 2,730 
Shares redeemed (103,563) – (1,078,530) – 
Net increase (decrease) 477,721 10,446 $4,794,279 $103,881 
Class Z     
Shares sold – 10,000 $– $100,000 
Reinvestment of distributions 343 325 3,583 2,760 
Net increase (decrease) 343 10,325 $3,583 $102,760 
Class Z6     
Shares sold 216,662 26,471 $2,260,493 $255,454 
Reinvestment of distributions 508 330 5,310 2,800 
Shares redeemed (60,449) – (573,566) – 
Net increase (decrease) 156,721 26,801 $1,692,237 $258,254 
Fidelity Freedom Blend 2045 Fund     
Class A     
Shares sold 82,029 26,122 $819,225 $253,005 
Reinvestment of distributions 2,639 406 27,494 3,446 
Shares redeemed (10,297) (63) (103,421) (600) 
Net increase (decrease) 74,371 26,465 $743,298 $255,851 
Class M     
Shares sold 121,324 16,576 $1,272,405 $160,743 
Reinvestment of distributions 677 491 7,045 4,165 
Shares redeemed (3,456) (271) (34,441) (2,560) 
Net increase (decrease) 118,545 16,796 $1,245,009 $162,348 
Class C     
Shares sold 16,836 16,112 $168,708 $157,390 
Reinvestment of distributions 603 305 6,265 2,591 
Shares redeemed (2,291) – (22,573) – 
Net increase (decrease) 15,148 16,417 $152,400 $159,981 
Fidelity Freedom Blend 2045 Fund     
Shares sold 1,374,727 93,536 $14,041,739 $873,152 
Reinvestment of distributions 6,577 1,896 68,591 16,095 
Shares redeemed (172,550) (17,143) (1,608,006) (148,361) 
Net increase (decrease) 1,208,754 78,289 $12,502,324 $740,886 
Class K     
Shares sold 1,685,191 10,000 $16,854,789 $100,000 
Reinvestment of distributions 44,201 319 461,012 2,710 
Shares redeemed (116,901) – (1,169,196) – 
Net increase (decrease) 1,612,491 10,319 $16,146,605 $102,710 
Class K6     
Shares sold 53,576,395 905,331 $520,549,510 $8,061,254 
Reinvestment of distributions 1,567,387 323 16,369,836 2,740 
Shares redeemed (3,641,445) (37,415) (34,923,157) (348,453) 
Net increase (decrease) 51,502,337 868,239 $501,996,189 $7,715,541 
Class I     
Shares sold 414,698 10,000 $4,173,179 $100,000 
Reinvestment of distributions 8,521 316 88,782 2,680 
Shares redeemed (24,213) – (250,866) – 
Net increase (decrease) 399,006 10,316 $4,011,095 $102,680 
Class Z     
Shares sold 416 10,000 $4,098 $100,000 
Reinvestment of distributions 346 319 3,619 2,710 
Net increase (decrease) 762 10,319 $7,717 $102,710 
Class Z6     
Shares sold 125,922 10,000 $1,256,608 $100,000 
Reinvestment of distributions 511 323 5,334 2,740 
Shares redeemed (3,552) – (32,601) – 
Net increase (decrease) 122,881 10,323 $1,229,341 $102,740 
Fidelity Freedom Blend 2050 Fund     
Class A     
Shares sold 60,808 26,016 $577,409 $241,577 
Reinvestment of distributions 1,893 392 19,643 3,316 
Shares redeemed (9,904) (1,246) (98,042) (11,291) 
Net increase (decrease) 52,797 25,162 $499,010 $233,602 
Class M     
Shares sold 30,577 10,039 $298,706 $100,365 
Reinvestment of distributions 832 347 8,625 2,930 
Shares redeemed (5,655) – (56,777) – 
Net increase (decrease) 25,754 10,386 $250,554 $103,295 
Class C     
Shares sold 43,888 14,119 $419,403 $138,357 
Reinvestment of distributions 955 327 9,876 2,770 
Shares redeemed (4,602) – (44,442) – 
Net increase (decrease) 40,241 14,446 $384,837 $141,127 
Fidelity Freedom Blend 2050 Fund     
Shares sold 1,196,246 49,174 $12,158,738 $463,866 
Reinvestment of distributions 5,804 491 60,239 4,148 
Shares redeemed (97,735) (705) (961,160) (6,683) 
Net increase (decrease) 1,104,315 48,960 $11,257,817 $461,331 
Class K     
Shares sold 1,085,097 10,000 $10,766,293 $100,000 
Reinvestment of distributions 29,763 369 308,941 3,120 
Shares redeemed (115,539) – (1,168,292) – 
Net increase (decrease) 999,321 10,369 $9,906,942 $103,120 
Class K6     
Shares sold 42,505,008 812,830 $410,753,832 $7,194,569 
Reinvestment of distributions 1,153,996 373 11,994,804 3,150 
Shares redeemed (2,905,330) (27,727) (27,598,201) (259,318) 
Net increase (decrease) 40,753,674 785,476 $395,150,435 $6,938,401 
Class I     
Shares sold 411,997 10,292 $4,090,112 $102,603 
Reinvestment of distributions 9,318 366 96,721 3,090 
Shares redeemed (46,900) – (452,765) – 
Net increase (decrease) 374,415 10,658 $3,734,068 $105,693 
Class Z     
Shares sold – 10,000 $– $100,000 
Reinvestment of distributions 332 369 3,453 3,120 
Net increase (decrease) 332 10,369 $3,453 $103,120 
Class Z6     
Shares sold 229,013 10,000 $2,363,807 $100,000 
Reinvestment of distributions 420 373 4,367 3,150 
Shares redeemed (2,239) – (18,844) – 
Net increase (decrease) 227,194 10,373 $2,349,330 $103,150 
Fidelity Freedom Blend 2055 Fund     
Class A     
Shares sold 32,623 15,518 $320,492 $150,503 
Reinvestment of distributions 1,064 363 11,061 3,064 
Shares redeemed (2,079) – (20,792) – 
Net increase (decrease) 31,608 15,881 $310,761 $153,567 
Class M     
Shares sold 19,745 10,302 $198,412 $102,820 
Reinvestment of distributions 427 353 4,435 2,982 
Shares redeemed (730) – (7,443) – 
Net increase (decrease) 19,442 10,655 $195,404 $105,802 
Class C     
Shares sold 9,252 10,988 $90,453 $109,225 
Reinvestment of distributions 388 334 4,029 2,820 
Shares redeemed (2,339) – (23,298) – 
Net increase (decrease) 7,301 11,322 $71,184 $112,045 
Fidelity Freedom Blend 2055 Fund     
Shares sold 628,014 33,559 $6,395,015 $320,437 
Reinvestment of distributions 2,201 440 22,905 3,718 
Shares redeemed (35,245) (364) (351,096) (3,396) 
Net increase (decrease) 594,970 33,635 $6,066,824 $320,759 
Class K     
Shares sold 621,789 10,000 $6,185,860 $100,000 
Reinvestment of distributions 14,745 375 153,497 3,170 
Shares redeemed (72,759) – (708,474) – 
Net increase (decrease) 563,775 10,375 $5,630,883 $103,170 
Class K6     
Shares sold 20,720,008 439,603 $200,342,623 $3,882,496 
Reinvestment of distributions 465,881 379 4,851,113 3,200 
Shares redeemed (1,391,367) (17,619) (12,921,590) (160,478) 
Net increase (decrease) 19,794,522 422,363 $192,272,146 $3,725,218 
Class I     
Shares sold 238,393 10,000 $2,364,256 $100,000 
Reinvestment of distributions 4,816 370 50,084 3,130 
Shares redeemed (30,006) – (304,125) – 
Net increase (decrease) 213,203 10,370 $2,110,215 $103,130 
Class Z     
Shares sold – 10,000 $– $100,000 
Reinvestment of distributions 308 375 3,207 3,170 
Net increase (decrease) 308 10,375 $3,207 $103,170 
Class Z6     
Shares sold 76,670 10,000 $788,359 $100,000 
Reinvestment of distributions 495 379 5,156 3,200 
Shares redeemed (3,981) – (37,788) – 
Net increase (decrease) 73,184 10,379 $755,727 $103,200 
Fidelity Freedom Blend 2060 Fund     
Class A     
Shares sold 37,225 25,144 $363,718 $239,656 
Reinvestment of distributions 1,237 338 12,880 2,862 
Shares redeemed (4,518) – (46,270) – 
Net increase (decrease) 33,944 25,482 $330,328 $242,518 
Class M     
Shares sold 9,936 14,705 $99,900 $142,596 
Reinvestment of distributions 395 326 4,107 2,764 
Shares redeemed (4,387) – (42,552) – 
Net increase (decrease) 5,944 15,031 $61,455 $145,360 
Class C     
Shares sold 16,593 10,942 $164,497 $108,820 
Reinvestment of distributions 431 308 4,470 2,612 
Shares redeemed (1,343) – (13,597) – 
Net increase (decrease) 15,681 11,250 $155,370 $111,432 
Fidelity Freedom Blend 2060 Fund     
Shares sold 301,091 47,789 $3,009,069 $448,564 
Reinvestment of distributions 2,870 890 29,908 7,540 
Shares redeemed (17,766) (1,176) (175,374) (11,123) 
Net increase (decrease) 286,195 47,503 $2,863,603 $444,981 
Class K     
Shares sold 159,219 10,000 $1,575,376 $100,000 
Reinvestment of distributions 3,732 348 38,953 2,950 
Shares redeemed (16,014) – (160,325) – 
Net increase (decrease) 146,937 10,348 $1,454,004 $102,950 
Class K6     
Shares sold 5,632,561 137,069 $54,434,732 $1,222,903 
Reinvestment of distributions 96,880 352 1,010,306 2,980 
Shares redeemed (495,746) (5,301) (4,563,687) (50,065) 
Net increase (decrease) 5,233,695 132,120 $50,881,351 $1,175,818 
Class I     
Shares sold 125,809 10,397 $1,254,764 $103,616 
Reinvestment of distributions 2,399 345 25,016 2,924 
Shares redeemed (8,394) (11) (84,666) (99) 
Net increase (decrease) 119,814 10,731 $1,195,114 $106,441 
Class Z     
Shares sold 37 10,011 $370 $100,100 
Reinvestment of distributions 299 348 3,118 2,950 
Net increase (decrease) 336 10,359 $3,488 $103,050 
Class Z6     
Shares sold 35,644 10,436 $373,562 $104,106 
Reinvestment of distributions 312 352 3,250 2,980 
Shares redeemed (1,699) – (16,504) – 
Net increase (decrease) 34,257 10,788 $360,308 $107,086 
Fidelity Freedom Blend 2065 Fund(b)     
Class A     
Shares sold 21,250 – $212,603 $– 
Reinvestment of distributions 429 – 4,538 – 
Shares redeemed (3,367) – (35,787) – 
Net increase (decrease) 18,312 – $181,354 $– 
Class M     
Shares sold 19,398 – $197,568 $– 
Reinvestment of distributions 353 – 3,736 – 
Shares redeemed (100) – (1,055) – 
Net increase (decrease) 19,651 – $200,249 $– 
Class C     
Shares sold 18,175 – $181,622 $– 
Reinvestment of distributions 390 – 4,126 – 
Shares redeemed (3) – (30) – 
Net increase (decrease) 18,562 – $185,718 $– 
Fidelity Freedom Blend 2065 Fund     
Shares sold 50,839 – $513,323 $– 
Reinvestment of distributions 672 – 7,111 – 
Shares redeemed (1,358) – (13,934) – 
Net increase (decrease) 50,153 – $506,500 $– 
Class K     
Shares sold 13,889 – $138,798 $– 
Reinvestment of distributions 375 – 3,966 – 
Shares redeemed (295) – (3,102) – 
Net increase (decrease) 13,969 – $139,662 $– 
Class K6     
Shares sold 130,843 – $1,290,645 $– 
Reinvestment of distributions 892 – 9,439 – 
Shares redeemed (3,142) – (29,862) – 
Net increase (decrease) 128,593 – $1,270,222 $– 
Class I     
Shares sold 27,553 – $256,437 $– 
Reinvestment of distributions 315 – 3,337 – 
Shares redeemed (16) – (166) – 
Net increase (decrease) 27,852 – $259,608 $– 
Class Z     
Shares sold 11,111 – $111,110 $– 
Reinvestment of distributions 316 – 3,344 – 
Net increase (decrease) 11,427 – $114,454 $– 
Class Z6     
Shares sold 11,203 – $111,823 $– 
Reinvestment of distributions 321 – 3,400 – 
Net increase (decrease) 11,524 – $115,223 $– 

 (a) For the period August 31, 2018 (commencement of sale of shares) to March 31, 2019.

 (b) For the period June 28, 2019 (commencement of operations) to March 31, 2020.

8. 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 the Underlying 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 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 Underlying 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 Freedom Blend 2050 Fund   
Fidelity Series Corporate Bond Fund 21% 25% 21% – – – –   
Fidelity Series Government Bond Index Fund 22% 26% 21% – – – –   
Fidelity Large Cap Growth Index Fund – 12% 14% 16% 16% 13% 11%   
Fidelity Investment Grade Securitized Fund 21% 25% 21% – – – –   
Fidelity International Index Fund – 12% 13% 15% 15% 12% –   

The Funds, in aggregate, were the owners of record of more than 20% of the total outstanding shares of the following Underlying Funds.

Fund % of shares held 
Fidelity Series Corporate Bond Fund 89% 
Fidelity Series Government Bond Index Fund 93% 
Fidelity Large Cap Growth Index Fund 98% 
Fidelity Investment Grade Securitized Fund 89% 
Fidelity International Index Fund 94% 

In addition, 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 Freedom Blend 2065 Fund 28% 

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, 2020, 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, 2020, 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, 2020 For the year ended March 31, 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 For the year ended March 31, 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, 2020 For the year ended March 31, 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 For the year ended March 31, 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, 2020 For the year ended March 31, 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 For the year ended March 31, 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, 2020 For the year ended March 31, 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 For the year ended March 31, 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, 2020 For the year ended March 31, 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 For the year ended March 31, 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, 2020 For the year ended March 31, 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 For the year ended March 31, 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, 2020 For the year ended March 31, 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 For the year ended March 31, 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, 2020 For the year ended March 31, 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 For the year ended March 31, 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, 2020 For the year ended March 31, 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 For the year ended March 31, 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, 2020 For the year ended March 31, 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 For the year ended March 31, 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, 2020 For the year ended March 31, 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 For the year ended March 31, 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, 2020 For the year ended March 31, 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 For the year ended March 31, 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, 2020 For the year ended March 31, 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 For the year ended March 31, 2020 and the period August 31, 2018 (commencement of operations) to March 31, 2019 
Fidelity Freedom Blend 2065 Fund For the period June 28, 2019 (commencement of operations) to March 31, 2020 For the period June 28, 2019 (commencement of operations) to March 31, 2020 For 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, 2020 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.

PricewaterhouseCoopers LLP

Boston, Massachusetts

May 13, 2020



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 279 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. 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 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 Executive Vice President and Chief Investment Officer of Bank of America Corporation. Earlier roles at Bank of America included Director of Research, Senior Portfolio Manager for various institutional equity accounts and mutual funds and Portfolio Manager for a number of institutional fixed-income clients. Mr. Kenneally 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. Mr. Murray currently serves as Vice Chairman of Meijer, Inc. (regional retail chain, 2013-present). Previously, Mr. Murray served as Co-Chief Executive Officer (2013-2016) and President (2006-2013) of Meijer, Inc. Mr. Murray serves as a member of the Board and Nuclear Review and Public Policy and Responsibility Committees of DTE Energy Company (diversified energy company, 2009-present) and 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 previously served as a member of the Board of Spectrum Health (not-for-profit health system, 2015-2019). 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

Elizabeth Paige Baumann (1968)

Year of Election or Appointment: 2017

Anti-Money Laundering (AML) Officer

Ms. Baumann also serves as AML Officer of other funds. She is Chief AML Officer (2012-present) and Senior Vice President (2014-present) of FMR LLC (diversified financial services company) and is an employee of Fidelity Investments. Previously, Ms. Baumann served as AML Officer of certain funds (2017-2019), as AML Officer of the funds (2012-2016), and Vice President (2007-2014) and Deputy Anti-Money Laundering Officer (2007-2012) of FMR LLC.

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).

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). 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).

John B. McGinty, Jr. (1962)

Year of Election or Appointment: 2016

Chief Compliance Officer

Mr. McGinty also serves as Chief Compliance Officer of other funds. Mr. McGinty is Senior Vice President of Asset Management Compliance for Fidelity Investments and is an employee of Fidelity Investments (2016-present). Previously, Mr. McGinty served as Chief Compliance Officer of The North Carolina Capital Management Trust: Cash Portfolio and Term Portfolio (2019). Prior to joining Fidelity Investments, Mr. McGinty served as Vice President, Senior Attorney at Eaton Vance Management (investment management firm, 2015-2016), and prior to Eaton Vance as global CCO for all firm operations and registered investment companies at GMO LLC (investment management firm, 2009-2015). Before joining GMO LLC, Mr. McGinty served as Senior Vice President, Deputy General Counsel for Fidelity Investments (2007-2009).

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2015

Assistant Secretary

Mr. Pogorelec also serves as Assistant Secretary of other funds. Mr. Pogorelec serves as Vice President, Associate General Counsel (2010-present) and is an employee of Fidelity Investments (2006-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 and Chief Investment Officer of Global Asset Allocation and is an employee of Fidelity Investments (2018-present). 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, 2013-2018).

Shareholder Expense Example

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, and (2) ongoing costs, including 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 the Funds 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, 2019 to March 31, 2020).

Actual Expenses

The first line of the accompanying table for each Class of each fund 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 of the fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. In addition, each Fund, as a shareholder in underlying Fidelity Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Funds. These fees and expenses are not included in each Fund's annualized expense ratio used to calculate the expense estimates in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each Class of each fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' 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. In addition, each Fund, as a shareholder in underlying Fidelity Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Funds. These fees and expenses are not included in each Fund's annualized expense ratio used to calculate the expense estimates 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, 2019 
Ending
Account Value
March 31, 2020 
Expenses Paid
During Period-B
October 1, 2019
to March 31, 2020 
Fidelity Freedom Blend Income Fund     
Class A .71%    
Actual  $1,000.00 $980.70 $3.52 
Hypothetical-C  $1,000.00 $1,021.45 $3.59 
Class M .96%    
Actual  $1,000.00 $979.50 $4.75 
Hypothetical-C  $1,000.00 $1,020.20 $4.85 
Class C 1.46%    
Actual  $1,000.00 $977.60 $7.22 
Hypothetical-C  $1,000.00 $1,017.70 $7.36 
Fidelity Freedom Blend Income Fund .47%    
Actual  $1,000.00 $982.20 $2.33 
Hypothetical-C  $1,000.00 $1,022.65 $2.38 
Class K .36%    
Actual  $1,000.00 $982.60 $1.78 
Hypothetical-C  $1,000.00 $1,023.20 $1.82 
Class K6 .26%    
Actual  $1,000.00 $982.90 $1.29 
Hypothetical-C  $1,000.00 $1,023.70 $1.32 
Class I .46%    
Actual  $1,000.00 $981.80 $2.28 
Hypothetical-C  $1,000.00 $1,022.70 $2.33 
Class Z .36%    
Actual  $1,000.00 $982.30 $1.78 
Hypothetical-C  $1,000.00 $1,023.20 $1.82 
Class Z6 .26%    
Actual  $1,000.00 $983.80 $1.29 
Hypothetical-C  $1,000.00 $1,023.70 $1.32 
Fidelity Freedom Blend 2005 Fund     
Class A .71%    
Actual  $1,000.00 $971.40 $3.50 
Hypothetical-C  $1,000.00 $1,021.45 $3.59 
Class M .97%    
Actual  $1,000.00 $970.10 $4.78 
Hypothetical-C  $1,000.00 $1,020.15 $4.90 
Class C 1.46%    
Actual  $1,000.00 $967.90 $7.18 
Hypothetical-C  $1,000.00 $1,017.70 $7.36 
Fidelity Freedom Blend 2005 Fund .46%    
Actual  $1,000.00 $972.90 $2.27 
Hypothetical-C  $1,000.00 $1,022.70 $2.33 
Class K .36%    
Actual  $1,000.00 $973.00 $1.78 
Hypothetical-C  $1,000.00 $1,023.20 $1.82 
Class K6 .26%    
Actual  $1,000.00 $974.30 $1.28 
Hypothetical-C  $1,000.00 $1,023.70 $1.32 
Class I .46%    
Actual  $1,000.00 $972.30 $2.27 
Hypothetical-C  $1,000.00 $1,022.70 $2.33 
Class Z .36%    
Actual  $1,000.00 $972.50 $1.78 
Hypothetical-C  $1,000.00 $1,023.20 $1.82 
Class Z6 .26%    
Actual  $1,000.00 $973.20 $1.28 
Hypothetical-C  $1,000.00 $1,023.70 $1.32 
Fidelity Freedom Blend 2010 Fund     
Class A .72%    
Actual  $1,000.00 $957.10 $3.52 
Hypothetical-C  $1,000.00 $1,021.40 $3.64 
Class M .97%    
Actual  $1,000.00 $954.70 $4.74 
Hypothetical-C  $1,000.00 $1,020.15 $4.90 
Class C 1.47%    
Actual  $1,000.00 $953.50 $7.18 
Hypothetical-C  $1,000.00 $1,017.65 $7.41 
Fidelity Freedom Blend 2010 Fund .48%    
Actual  $1,000.00 $957.40 $2.35 
Hypothetical-C  $1,000.00 $1,022.60 $2.43 
Class K .37%    
Actual  $1,000.00 $958.10 $1.81 
Hypothetical-C  $1,000.00 $1,023.15 $1.87 
Class K6 .27%    
Actual  $1,000.00 $958.30 $1.32 
Hypothetical-C  $1,000.00 $1,023.65 $1.37 
Class I .47%    
Actual  $1,000.00 $958.10 $2.30 
Hypothetical-C  $1,000.00 $1,022.65 $2.38 
Class Z .37%    
Actual  $1,000.00 $958.40 $1.81 
Hypothetical-C  $1,000.00 $1,023.15 $1.87 
Class Z6 .27%    
Actual  $1,000.00 $958.10 $1.32 
Hypothetical-C  $1,000.00 $1,023.65 $1.37 
Fidelity Freedom Blend 2015 Fund     
Class A .73%    
Actual  $1,000.00 $942.00 $3.54 
Hypothetical-C  $1,000.00 $1,021.35 $3.69 
Class M .98%    
Actual  $1,000.00 $941.70 $4.76 
Hypothetical-C  $1,000.00 $1,020.10 $4.95 
Class C 1.48%    
Actual  $1,000.00 $939.20 $7.18 
Hypothetical-C  $1,000.00 $1,017.60 $7.47 
Fidelity Freedom Blend 2015 Fund .49%    
Actual  $1,000.00 $943.00 $2.38 
Hypothetical-C  $1,000.00 $1,022.55 $2.48 
Class K .38%    
Actual  $1,000.00 $943.60 $1.85 
Hypothetical-C  $1,000.00 $1,023.10 $1.92 
Class K6 .28%    
Actual  $1,000.00 $944.70 $1.36 
Hypothetical-C  $1,000.00 $1,023.60 $1.42 
Class I .48%    
Actual  $1,000.00 $943.90 $2.33 
Hypothetical-C  $1,000.00 $1,022.60 $2.43 
Class Z .38%    
Actual  $1,000.00 $943.90 $1.85 
Hypothetical-C  $1,000.00 $1,023.10 $1.92 
Class Z6 .28%    
Actual  $1,000.00 $943.40 $1.36 
Hypothetical-C  $1,000.00 $1,023.60 $1.42 
Fidelity Freedom Blend 2020 Fund     
Class A .75%    
Actual  $1,000.00 $928.80 $3.62 
Hypothetical-C  $1,000.00 $1,021.25 $3.79 
Class M 1.00%    
Actual  $1,000.00 $927.30 $4.82 
Hypothetical-C  $1,000.00 $1,020.00 $5.05 
Class C 1.50%    
Actual  $1,000.00 $925.00 $7.22 
Hypothetical-C  $1,000.00 $1,017.50 $7.57 
Fidelity Freedom Blend 2020 Fund .51%    
Actual  $1,000.00 $929.60 $2.46 
Hypothetical-C  $1,000.00 $1,022.45 $2.58 
Class K .40%    
Actual  $1,000.00 $930.00 $1.93 
Hypothetical-C  $1,000.00 $1,023.00 $2.02 
Class K6 .30%    
Actual  $1,000.00 $930.90 $1.45 
Hypothetical-C  $1,000.00 $1,023.50 $1.52 
Class I .50%    
Actual  $1,000.00 $929.50 $2.41 
Hypothetical-C  $1,000.00 $1,022.50 $2.53 
Class Z .40%    
Actual  $1,000.00 $930.10 $1.93 
Hypothetical-C  $1,000.00 $1,023.00 $2.02 
Class Z6 .31%    
Actual  $1,000.00 $930.70 $1.50 
Hypothetical-C  $1,000.00 $1,023.45 $1.57 
Fidelity Freedom Blend 2025 Fund     
Class A .76%    
Actual  $1,000.00 $918.10 $3.64 
Hypothetical-C  $1,000.00 $1,021.20 $3.84 
Class M 1.02%    
Actual  $1,000.00 $916.90 $4.89 
Hypothetical-C  $1,000.00 $1,019.90 $5.15 
Class C 1.51%    
Actual  $1,000.00 $914.80 $7.23 
Hypothetical-C  $1,000.00 $1,017.45 $7.62 
Fidelity Freedom Blend 2025 Fund .52%    
Actual  $1,000.00 $919.00 $2.49 
Hypothetical-C  $1,000.00 $1,022.40 $2.63 
Class K .41%    
Actual  $1,000.00 $920.10 $1.97 
Hypothetical-C  $1,000.00 $1,022.95 $2.07 
Class K6 .31%    
Actual  $1,000.00 $920.30 $1.49 
Hypothetical-C  $1,000.00 $1,023.45 $1.57 
Class I .51%    
Actual  $1,000.00 $919.80 $2.45 
Hypothetical-C  $1,000.00 $1,022.45 $2.58 
Class Z .41%    
Actual  $1,000.00 $920.40 $1.97 
Hypothetical-C  $1,000.00 $1,022.95 $2.07 
Class Z6 .32%    
Actual  $1,000.00 $920.10 $1.54 
Hypothetical-C  $1,000.00 $1,023.40 $1.62 
Fidelity Freedom Blend 2030 Fund     
Class A .78%    
Actual  $1,000.00 $903.60 $3.71 
Hypothetical-C  $1,000.00 $1,021.10 $3.94 
Class M 1.02%    
Actual  $1,000.00 $902.10 $4.85 
Hypothetical-C  $1,000.00 $1,019.90 $5.15 
Class C 1.51%    
Actual  $1,000.00 $899.80 $7.17 
Hypothetical-C  $1,000.00 $1,017.45 $7.62 
Fidelity Freedom Blend 2030 Fund .53%    
Actual  $1,000.00 $904.20 $2.52 
Hypothetical-C  $1,000.00 $1,022.35 $2.68 
Class K .42%    
Actual  $1,000.00 $905.00 $2.00 
Hypothetical-C  $1,000.00 $1,022.90 $2.12 
Class K6 .32%    
Actual  $1,000.00 $906.10 $1.52 
Hypothetical-C  $1,000.00 $1,023.40 $1.62 
Class I .52%    
Actual  $1,000.00 $904.40 $2.48 
Hypothetical-C  $1,000.00 $1,022.40 $2.63 
Class Z .42%    
Actual  $1,000.00 $905.30 $2.00 
Hypothetical-C  $1,000.00 $1,022.90 $2.12 
Class Z6 .33%    
Actual  $1,000.00 $906.30 $1.57 
Hypothetical-C  $1,000.00 $1,023.35 $1.67 
Fidelity Freedom Blend 2035 Fund     
Class A .78%    
Actual  $1,000.00 $879.10 $3.66 
Hypothetical-C  $1,000.00 $1,021.10 $3.94 
Class M 1.03%    
Actual  $1,000.00 $878.30 $4.84 
Hypothetical-C  $1,000.00 $1,019.85 $5.20 
Class C 1.53%    
Actual  $1,000.00 $876.30 $7.18 
Hypothetical-C  $1,000.00 $1,017.35 $7.72 
Fidelity Freedom Blend 2035 Fund .55%    
Actual  $1,000.00 $880.20 $2.59 
Hypothetical-C  $1,000.00 $1,022.25 $2.78 
Class K .43%    
Actual  $1,000.00 $880.50 $2.02 
Hypothetical-C  $1,000.00 $1,022.85 $2.17 
Class K6 .33%    
Actual  $1,000.00 $881.70 $1.55 
Hypothetical-C  $1,000.00 $1,023.35 $1.67 
Class I .53%    
Actual  $1,000.00 $881.00 $2.49 
Hypothetical-C  $1,000.00 $1,022.35 $2.68 
Class Z .43%    
Actual  $1,000.00 $880.90 $2.02 
Hypothetical-C  $1,000.00 $1,022.85 $2.17 
Class Z6 .34%    
Actual  $1,000.00 $882.20 $1.60 
Hypothetical-C  $1,000.00 $1,023.30 $1.72 
Fidelity Freedom Blend 2040 Fund     
Class A .79%    
Actual  $1,000.00 $866.20 $3.69 
Hypothetical-C  $1,000.00 $1,021.05 $3.99 
Class M 1.05%    
Actual  $1,000.00 $865.50 $4.90 
Hypothetical-C  $1,000.00 $1,019.75 $5.30 
Class C 1.54%    
Actual  $1,000.00 $863.70 $7.18 
Hypothetical-C  $1,000.00 $1,017.30 $7.77 
Fidelity Freedom Blend 2040 Fund .56%    
Actual  $1,000.00 $867.70 $2.61 
Hypothetical-C  $1,000.00 $1,022.20 $2.83 
Class K .44%    
Actual  $1,000.00 $867.90 $2.05 
Hypothetical-C  $1,000.00 $1,022.80 $2.23 
Class K6 .34%    
Actual  $1,000.00 $869.10 $1.59 
Hypothetical-C  $1,000.00 $1,023.30 $1.72 
Class I .54%    
Actual  $1,000.00 $868.30 $2.52 
Hypothetical-C  $1,000.00 $1,022.30 $2.73 
Class Z .44%    
Actual  $1,000.00 $868.30 $2.06 
Hypothetical-C  $1,000.00 $1,022.80 $2.23 
Class Z6 .35%    
Actual  $1,000.00 $867.80 $1.63 
Hypothetical-C  $1,000.00 $1,023.25 $1.77 
Fidelity Freedom Blend 2045 Fund     
Class A .79%    
Actual  $1,000.00 $867.10 $3.69 
Hypothetical-C  $1,000.00 $1,021.05 $3.99 
Class M 1.05%    
Actual  $1,000.00 $864.70 $4.89 
Hypothetical-C  $1,000.00 $1,019.75 $5.30 
Class C 1.55%    
Actual  $1,000.00 $863.20 $7.22 
Hypothetical-C  $1,000.00 $1,017.25 $7.82 
Fidelity Freedom Blend 2045 Fund .56%    
Actual  $1,000.00 $867.90 $2.62 
Hypothetical-C  $1,000.00 $1,022.20 $2.83 
Class K .44%    
Actual  $1,000.00 $867.60 $2.05 
Hypothetical-C  $1,000.00 $1,022.80 $2.23 
Class K6 .34%    
Actual  $1,000.00 $868.80 $1.59 
Hypothetical-C  $1,000.00 $1,023.30 $1.72 
Class I .54%    
Actual  $1,000.00 $868.10 $2.52 
Hypothetical-C  $1,000.00 $1,022.30 $2.73 
Class Z .44%    
Actual  $1,000.00 $868.00 $2.05 
Hypothetical-C  $1,000.00 $1,022.80 $2.23 
Class Z6 .35%    
Actual  $1,000.00 $868.10 $1.63 
Hypothetical-C  $1,000.00 $1,023.25 $1.77 
Fidelity Freedom Blend 2050 Fund     
Class A .79%    
Actual  $1,000.00 $866.80 $3.69 
Hypothetical-C  $1,000.00 $1,021.05 $3.99 
Class M 1.04%    
Actual  $1,000.00 $865.50 $4.85 
Hypothetical-C  $1,000.00 $1,019.80 $5.25 
Class C 1.54%    
Actual  $1,000.00 $863.20 $7.17 
Hypothetical-C  $1,000.00 $1,017.30 $7.77 
Fidelity Freedom Blend 2050 Fund .56%    
Actual  $1,000.00 $866.90 $2.61 
Hypothetical-C  $1,000.00 $1,022.20 $2.83 
Class K .44%    
Actual  $1,000.00 $868.10 $2.05 
Hypothetical-C  $1,000.00 $1,022.80 $2.23 
Class K6 .34%    
Actual  $1,000.00 $868.30 $1.59 
Hypothetical-C  $1,000.00 $1,023.30 $1.72 
Class I .54%    
Actual  $1,000.00 $867.60 $2.52 
Hypothetical-C  $1,000.00 $1,022.30 $2.73 
Class Z .44%    
Actual  $1,000.00 $867.40 $2.05 
Hypothetical-C  $1,000.00 $1,022.80 $2.23 
Class Z6 .35%    
Actual  $1,000.00 $868.30 $1.63 
Hypothetical-C  $1,000.00 $1,023.25 $1.77 
Fidelity Freedom Blend 2055 Fund     
Class A .79%    
Actual  $1,000.00 $866.10 $3.69 
Hypothetical-C  $1,000.00 $1,021.05 $3.99 
Class M 1.05%    
Actual  $1,000.00 $866.10 $4.90 
Hypothetical-C  $1,000.00 $1,019.75 $5.30 
Class C 1.54%    
Actual  $1,000.00 $863.10 $7.17 
Hypothetical-C  $1,000.00 $1,017.30 $7.77 
Fidelity Freedom Blend 2055 Fund .56%    
Actual  $1,000.00 $867.50 $2.61 
Hypothetical-C  $1,000.00 $1,022.20 $2.83 
Class K .44%    
Actual  $1,000.00 $868.10 $2.05 
Hypothetical-C  $1,000.00 $1,022.80 $2.23 
Class K6 .34%    
Actual  $1,000.00 $868.40 $1.59 
Hypothetical-C  $1,000.00 $1,023.30 $1.72 
Class I .54%    
Actual  $1,000.00 $867.40 $2.52 
Hypothetical-C  $1,000.00 $1,022.30 $2.73 
Class Z .44%    
Actual  $1,000.00 $867.40 $2.05 
Hypothetical-C  $1,000.00 $1,022.80 $2.23 
Class Z6 .35%    
Actual  $1,000.00 $868.60 $1.64 
Hypothetical-C  $1,000.00 $1,023.25 $1.77 
Fidelity Freedom Blend 2060 Fund     
Class A .79%    
Actual  $1,000.00 $866.40 $3.69 
Hypothetical-C  $1,000.00 $1,021.05 $3.99 
Class M 1.04%    
Actual  $1,000.00 $865.60 $4.85 
Hypothetical-C  $1,000.00 $1,019.80 $5.25 
Class C 1.54%    
Actual  $1,000.00 $863.20 $7.17 
Hypothetical-C  $1,000.00 $1,017.30 $7.77 
Fidelity Freedom Blend 2060 Fund .55%    
Actual  $1,000.00 $867.30 $2.57 
Hypothetical-C  $1,000.00 $1,022.25 $2.78 
Class K .44%    
Actual  $1,000.00 $867.70 $2.05 
Hypothetical-C  $1,000.00 $1,022.80 $2.23 
Class K6 .34%    
Actual  $1,000.00 $868.40 $1.59 
Hypothetical-C  $1,000.00 $1,023.30 $1.72 
Class I .54%    
Actual  $1,000.00 $867.10 $2.52 
Hypothetical-C  $1,000.00 $1,022.30 $2.73 
Class Z .44%    
Actual  $1,000.00 $868.20 $2.06 
Hypothetical-C  $1,000.00 $1,022.80 $2.23 
Class Z6 .35%    
Actual  $1,000.00 $868.80 $1.64 
Hypothetical-C  $1,000.00 $1,023.25 $1.77 
Fidelity Freedom Blend 2065 Fund     
Class A .79%    
Actual  $1,000.00 $867.00 $3.69 
Hypothetical-C  $1,000.00 $1,021.05 $3.99 
Class M 1.05%    
Actual  $1,000.00 $866.60 $4.90 
Hypothetical-C  $1,000.00 $1,019.75 $5.30 
Class C 1.55%    
Actual  $1,000.00 $864.00 $7.22 
Hypothetical-C  $1,000.00 $1,017.25 $7.82 
Fidelity Freedom Blend 2065 Fund .54%    
Actual  $1,000.00 $869.00 $2.52 
Hypothetical-C  $1,000.00 $1,022.30 $2.73 
Class K .44%    
Actual  $1,000.00 $867.90 $2.05 
Hypothetical-C  $1,000.00 $1,022.80 $2.23 
Class K6 .34%    
Actual  $1,000.00 $868.90 $1.59 
Hypothetical-C  $1,000.00 $1,023.30 $1.72 
Class I .54%    
Actual  $1,000.00 $868.30 $2.52 
Hypothetical-C  $1,000.00 $1,022.30 $2.73 
Class Z .44%    
Actual  $1,000.00 $868.90 $2.06 
Hypothetical-C  $1,000.00 $1,022.80 $2.23 
Class Z6 .34%    
Actual  $1,000.00 $869.30 $1.59 
Hypothetical-C  $1,000.00 $1,023.30 $1.72 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/ 366 (to reflect the one-half year period).

 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 05/11/20 05/08/20 $0.000 $0.033 
Class M 05/11/20 05/08/20 $0.000 $0.033 
Class C 05/11/20 05/08/20 $0.000 $0.033 
Fidelity Freedom Blend Income Fund 05/11/20 05/08/20 $0.000 $0.033 
Class K 05/11/20 05/08/20 $0.000 $0.033 
Class K6 05/11/20 05/08/20 $0.000 $0.033 
Class I 05/11/20 05/08/20 $0.000 $0.033 
Class Z 05/11/20 05/08/20 $0.000 $0.033 
Class Z6 05/11/20 05/08/20 $0.000 $0.033 
Fidelity Freedom Blend 2005 Fund     
Class A 05/11/20 05/08/20 $0.019 $0.048 
Class M 05/11/20 05/08/20 $0.006 $0.048 
Class C 05/11/20 05/08/20 $0.014 $0.048 
Fidelity Freedom Blend 2005 Fund 05/11/20 05/08/20 $0.026 $0.048 
Class K 05/11/20 05/08/20 $0.030 $0.048 
Class K6 05/11/20 05/08/20 $0.031 $0.048 
Class I 05/11/20 05/08/20 $0.026 $0.048 
Class Z 05/11/20 05/08/20 $0.028 $0.048 
Class Z6 05/11/20 05/08/20 $0.030 $0.048 
Fidelity Freedom Blend 2010 Fund     
Class A 05/11/20 05/08/20 $0.028 $0.067 
Class M 05/11/20 05/08/20 $0.012 $0.067 
Class C 05/11/20 05/08/20 $0.000 $0.061 
Fidelity Freedom Blend 2010 Fund 05/11/20 05/08/20 $0.023 $0.067 
Class K 05/11/20 05/08/20 $0.023 $0.067 
Class K6 05/11/20 05/08/20 $0.026 $0.067 
Class I 05/11/20 05/08/20 $0.024 $0.067 
Class Z 05/11/20 05/08/20 $0.024 $0.067 
Class Z6 05/11/20 05/08/20 $0.028 $0.067 
Fidelity Freedom Blend 2015 Fund     
Class A 05/11/20 05/08/20 $0.015 $0.084 
Class M 05/11/20 05/08/20 $0.004 $0.084 
Class C 05/11/20 05/08/20 $0.009 $0.084 
Fidelity Freedom Blend 2015 Fund 05/11/20 05/08/20 $0.019 $0.084 
Class K 05/11/20 05/08/20 $0.020 $0.084 
Class K6 05/11/20 05/08/20 $0.022 $0.084 
Class I 05/11/20 05/08/20 $0.020 $0.084 
Class Z 05/11/20 05/08/20 $0.020 $0.084 
Class Z6 05/11/20 05/08/20 $0.025 $0.084 
Fidelity Freedom Blend 2020 Fund     
Class A 05/11/20 05/08/20 $0.004 $0.095 
Class M 05/11/20 05/08/20 $0.000 $0.095 
Class C 05/11/20 05/08/20 $0.000 $0.092 
Fidelity Freedom Blend 2020 Fund 05/11/20 05/08/20 $0.016 $0.095 
Class K 05/11/20 05/08/20 $0.015 $0.095 
Class K6 05/11/20 05/08/20 $0.018 $0.095 
Class I 05/11/20 05/08/20 $0.015 $0.095 
Class Z 05/11/20 05/08/20 $0.016 $0.095 
Class Z6 05/11/20 05/08/20 $0.017 $0.095 
Fidelity Freedom Blend 2025 Fund     
Class A 05/11/20 05/08/20 $0.005 $0.087 
Class M 05/11/20 05/08/20 $0.000 $0.086 
Class C 05/11/20 05/08/20 $0.000 $0.083 
Fidelity Freedom Blend 2025 Fund 05/11/20 05/08/20 $0.013 $0.087 
Class K 05/11/20 05/08/20 $0.011 $0.087 
Class K6 05/11/20 05/08/20 $0.015 $0.087 
Class I 05/11/20 05/08/20 $0.017 $0.087 
Class Z 05/11/20 05/08/20 $0.012 $0.087 
Class Z6 05/11/20 05/08/20 $0.017 $0.087 
Fidelity Freedom Blend 2030 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.093 
Class M 05/11/20 05/08/20 $0.000 $0.082 
Class C 05/11/20 05/08/20 $0.006 $0.094 
Fidelity Freedom Blend 2030 Fund 05/11/20 05/08/20 $0.008 $0.094 
Class K 05/11/20 05/08/20 $0.007 $0.094 
Class K6 05/11/20 05/08/20 $0.010 $0.094 
Class I 05/11/20 05/08/20 $0.009 $0.094 
Class Z 05/11/20 05/08/20 $0.010 $0.094 
Class Z6 05/11/20 05/08/20 $0.012 $0.094 
Fidelity Freedom Blend 2035 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.104 
Class M 05/11/20 05/08/20 $0.000 $0.099 
Class C 05/11/20 05/08/20 $0.000 $0.099 
Fidelity Freedom Blend 2035 Fund 05/11/20 05/08/20 $0.000 $0.115 
Class K 05/11/20 05/08/20 $0.000 $0.113 
Class K6 05/11/20 05/08/20 $0.000 $0.116 
Class I 05/11/20 05/08/20 $0.000 $0.116 
Class Z 05/11/20 05/08/20 $0.000 $0.113 
Class Z6 05/11/20 05/08/20 $0.000 $0.119 
Fidelity Freedom Blend 2040 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.107 
Class M 05/11/20 05/08/20 $0.000 $0.104 
Class C 05/11/20 05/08/20 $0.000 $0.104 
Fidelity Freedom Blend 2040 Fund 05/11/20 05/08/20 $0.000 $0.112 
Class K 05/11/20 05/08/20 $0.000 $0.111 
Class K6 05/11/20 05/08/20 $0.000 $0.114 
Class I 05/11/20 05/08/20 $0.000 $0.113 
Class Z 05/11/20 05/08/20 $0.000 $0.110 
Class Z6 05/11/20 05/08/20 $0.000 $0.117 
Fidelity Freedom Blend 2045 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.105 
Class M 05/11/20 05/08/20 $0.000 $0.104 
Class C 05/11/20 05/08/20 $0.000 $0.101 
Fidelity Freedom Blend 2045 Fund 05/11/20 05/08/20 $0.000 $0.113 
Class K 05/11/20 05/08/20 $0.000 $0.111 
Class K6 05/11/20 05/08/20 $0.000 $0.114 
Class I 05/11/20 05/08/20 $0.000 $0.113 
Class Z 05/11/20 05/08/20 $0.000 $0.111 
Class Z6 05/11/20 05/08/20 $0.000 $0.118 
Fidelity Freedom Blend 2050 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.098 
Class M 05/11/20 05/08/20 $0.000 $0.097 
Class C 05/11/20 05/08/20 $0.000 $0.097 
Fidelity Freedom Blend 2050 Fund 05/11/20 05/08/20 $0.000 $0.106 
Class K 05/11/20 05/08/20 $0.000 $0.103 
Class K6 05/11/20 05/08/20 $0.000 $0.107 
Class I 05/11/20 05/08/20 $0.000 $0.102 
Class Z 05/11/20 05/08/20 $0.000 $0.103 
Class Z6 05/11/20 05/08/20 $0.000 $0.110 
Fidelity Freedom Blend 2055 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.085 
Class M 05/11/20 05/08/20 $0.000 $0.085 
Class C 05/11/20 05/08/20 $0.000 $0.085 
Fidelity Freedom Blend 2055 Fund 05/11/20 05/08/20 $0.000 $0.090 
Class K 05/11/20 05/08/20 $0.000 $0.087 
Class K6 05/11/20 05/08/20 $0.000 $0.091 
Class I 05/11/20 05/08/20 $0.000 $0.086 
Class Z 05/11/20 05/08/20 $0.000 $0.087 
Class Z6 05/11/20 05/08/20 $0.000 $0.093 
Fidelity Freedom Blend 2060 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.066 
Class M 05/11/20 05/08/20 $0.000 $0.066 
Class C 05/11/20 05/08/20 $0.000 $0.066 
Fidelity Freedom Blend 2060 Fund 05/11/20 05/08/20 $0.000 $0.066 
Class K 05/11/20 05/08/20 $0.000 $0.066 
Class K6 05/11/20 05/08/20 $0.000 $0.069 
Class I 05/11/20 05/08/20 $0.000 $0.066 
Class Z 05/11/20 05/08/20 $0.000 $0.066 
Class Z6 05/11/20 05/08/20 $0.000 $0.070 
Fidelity Freedom Blend 2065 Fund     
Class A 05/11/20 05/08/20 $0.000 $0.051 
Class M 05/11/20 05/08/20 $0.000 $0.051 
Class C 05/11/20 05/08/20 $0.000 $0.051 
Fidelity Freedom Blend 2065 Fund 05/11/20 05/08/20 $0.000 $0.051 
Class K 05/11/20 05/08/20 $0.000 $0.051 
Class K6 05/11/20 05/08/20 $0.000 $0.054 
Class I 05/11/20 05/08/20 $0.000 $0.051 
Class Z 05/11/20 05/08/20 $0.000 $0.051 
Class Z6 05/11/20 05/08/20 $0.000 $0.051 

The funds hereby designate as capital gain dividend the amounts noted below for the taxable year ended March 31, 2020, or, if subsequently determined to be different, the net capital gain of such year.

Fidelity Freedom Blend Income Fund $ 189,456 
Fidelity Freedom Blend 2005 Fund $ 113,305 
Fidelity Freedom Blend 2010 Fund $ 547,857 
Fidelity Freedom Blend 2015 Fund $ 2,362,522 
Fidelity Freedom Blend 2020 Fund $ 8,196,204 
Fidelity Freedom Blend 2025 Fund $ 11,440,383 
Fidelity Freedom Blend 2030 Fund $ 12,903,404 
Fidelity Freedom Blend 2035 Fund $ 14,973,012 
Fidelity Freedom Blend 2040 Fund $ 14,423,180 
Fidelity Freedom Blend 2045 Fund $ 12,193,577 
Fidelity Freedom Blend 2050 Fund $ 8,979,167 
Fidelity Freedom Blend 2055 Fund $ 3,672,507 
Fidelity Freedom Blend 2060 Fund $ 791,360 
Fidelity Freedom Blend 2065 Fund $ 33,052 

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 32.26% 
Fidelity Freedom Blend 2005 Fund 31.60% 
Fidelity Freedom Blend 2010 Fund 26.16% 
Fidelity Freedom Blend 2015 Fund 21.46% 
Fidelity Freedom Blend 2020 Fund 17.99% 
Fidelity Freedom Blend 2025 Fund 15.43% 
Fidelity Freedom Blend 2030 Fund 11.86% 
Fidelity Freedom Blend 2035 Fund 8.07% 
Fidelity Freedom Blend 2040 Fund 6.35% 
Fidelity Freedom Blend 2045 Fund 6.36% 
Fidelity Freedom Blend 2050 Fund 6.40% 
Fidelity Freedom Blend 2055 Fund 6.51% 
Fidelity Freedom Blend 2060 Fund 6.60% 
Fidelity Freedom Blend 2065 Fund 6.05% 

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 2019 9% 12% 31% 7% 6% 6% 7% 6% 6% 
June 2019 6% 10% 16% 7% 6% 6% 7% 6% 6% 
July 2019 8% 10% 16% 6% 6% 6% 7% 6% 6% 
August 2019 8% 6% 17% 7% 6% 6% 7% 6% 6% 
September 2019 8% 11% 18% 6% 6% 6% 7% 6% 6% 
October 2019 9% 10% 27% 7% 7% 6% 7% 7% 6% 
November 2019 9% 14% 0% 5% 5% 6% 7% 6% 6% 
December 2019 6% 6% 7% 6% 6% 6% 6% 6% 6% 
February 2020 2% 4% 0% 2% 2% 2% 2% 2% 2% 
March 2020 2% 3% 6% 2% 2% 2% 2% 2% 2% 
Fidelity Freedom Blend 2005 Fund          
May 2019 0% 0% 0% 2% 6% 2% 0% 6% 4% 
December 2019 10% 11% 13% 9% 8% 8% 8% 9% 8% 
Fidelity Freedom Blend 2010 Fund          
May 2019 0% 0% 0% 6% 0% 4% 0% 0% 0% 
December 2019 15% 16% 20% 12% 12% 12% 12% 13% 12% 
Fidelity Freedom Blend 2015 Fund          
May 2019 0% 0% 0% 0% 0% 7% 0% 0% 0% 
December 2019 17% 20% 25% 15% 15% 15% 14% 16% 15% 
Fidelity Freedom Blend 2020 Fund          
May 2019 0% 0% 0% 0% 0% 8% 0% 0% 0% 
December 2019 20% 22% 28% 18% 17% 18% 18% 19% 18% 
Fidelity Freedom Blend 2025 Fund          
May 2019 0% 0% 0% 0% 0% 10% 0% 0% 0% 
December 2019 22% 32% 27% 20% 19% 20% 19% 21% 19% 
Fidelity Freedom Blend 2030 Fund          
May 2019 0% 0% 0% 0% 0% 16% 0% 0% 0% 
December 2019 25% 26% 36% 23% 22% 23% 23% 24% 23% 
Fidelity Freedom Blend 2035 Fund          
May 2019 0% 0% 0% 0% 0% 23% 0% 0% 0% 
December 2019 31% 36% 43% 30% 28% 29% 28% 29% 28% 
Fidelity Freedom Blend 2040 Fund          
May 2019 0% 0% 0% 0% 0% 28% 0% 0% 0% 
December 2019 37% 44% 49% 35% 33% 34% 34% 36% 35% 
Fidelity Freedom Blend 2045 Fund          
May 2019 0% 0% 0% 0% 0% 30% 0% 0% 0% 
December 2019 37% 43% 54% 36% 33% 35% 34% 36% 34% 
Fidelity Freedom Blend 2050 Fund          
May 2019 0% 0% 0% 0% 0% 31% 0% 0% 0% 
December 2019 39% 42% 48% 35% 33% 35% 34% 37% 35% 
Fidelity Freedom Blend 2055 Fund          
May 2019 0% 0% 0% 0% 0% 24% 0% 0% 0% 
December 2019 39% 44% 55% 37% 34% 35% 35% 37% 35% 
Fidelity Freedom Blend 2060 Fund          
May 2019 0% 0% 0% 0% 0% 27% 0% 0% 0% 
December 2019 40% 45% 53% 36% 33% 34% 34% 36% 35% 
Fidelity Freedom Blend 2065 Fund          
December 2019 37% 40% 45% 35% 35% 33% 36% 35% 34% 

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          
February 2019 39% 50% 100% 39% 29% 27% 32% 29% 29% 
March 2019 35% 47% 83% 32% 28% 28% 30% 28% 28% 
April 2019 0% 0% 0% 0% 0% 0% 0% 0% 0% 
May 2019 24% 33% 83% 19% 17% 15% 19% 17% 17% 
June 2019 16% 26% 44% 18% 17% 16% 18% 17% 16% 
July 2019 22% 27% 43% 17% 17% 16% 18% 17% 17% 
August 2019 21% 17% 46% 19% 17% 16% 19% 17% 16% 
September 2019 21% 31% 49% 17% 16% 16% 18% 17% 16% 
October 2019 24% 27% 71% 20% 18% 16% 20% 18% 17% 
November 2019 23% 37% 0% 15% 15% 16% 19% 17% 16% 
December 2019 17% 18% 18% 16% 16% 16% 16% 16% 16% 
February 2020 3% 5% 0% 2% 2% 2% 2% 2% 2% 
March 2020 3% 4% 6% 2% 2% 2% 2% 2% 2% 
Fidelity Freedom Blend 2005 Fund          
May 2019 0% 0% 0% 4% 14% 4% 0% 14% 9% 
December 2019 24% 27% 32% 22% 21% 20% 20% 21% 20% 
Fidelity Freedom Blend 2010 Fund          
May 2019 0% 0% 0% 14% 0% 8% 0% 0% 0% 
December 2019 33% 36% 46% 28% 27% 28% 28% 29% 28% 
Fidelity Freedom Blend 2015 Fund          
May 2019 0% 0% 0% 0% 0% 16% 0% 0% 0% 
December 2019 35% 42% 53% 32% 32% 33% 31% 34% 32% 
Fidelity Freedom Blend 2020 Fund          
May 2019 0% 0% 0% 0% 0% 16% 0% 0% 0% 
December 2019 42% 45% 58% 38% 36% 38% 37% 40% 37% 
Fidelity Freedom Blend 2025 Fund          
May 2019 0% 0% 0% 0% 0% 24% 0% 0% 0% 
December 2019 45% 66% 56% 41% 40% 41% 40% 43% 40% 
Fidelity Freedom Blend 2030 Fund          
May 2019 0% 0% 0% 0% 0% 35% 0% 0% 0% 
December 2019 50% 54% 72% 47% 46% 47% 47% 49% 47% 
Fidelity Freedom Blend 2035 Fund          
May 2019 0% 0% 0% 0% 0% 49% 0% 0% 0% 
December 2019 62% 71% 85% 59% 56% 58% 57% 57% 57% 
Fidelity Freedom Blend 2040 Fund          
May 2019 0% 0% 0% 0% 0% 59% 0% 0% 0% 
December 2019 73% 87% 96% 69% 65% 68% 67% 71% 71% 
Fidelity Freedom Blend 2045 Fund          
May 2019 0% 0% 0% 0% 0% 62% 0% 0% 0% 
December 2019 74% 85% 100% 71% 66% 69% 67% 72% 68% 
Fidelity Freedom Blend 2050 Fund          
May 2019 0% 0% 0% 0% 0% 65% 0% 0% 0% 
December 2019 78% 84% 96% 70% 66% 69% 68% 73% 69% 
Fidelity Freedom Blend 2055 Fund          
May 2019 0% 0% 0% 0% 0% 55% 0% 0% 0% 
December 2019 79% 90% 100% 74% 68% 71% 70% 75% 70% 
Fidelity Freedom Blend 2060 Fund          
May 2019 0% 0% 0% 0% 0% 67% 0% 0% 0% 
December 2019 82% 92% 100% 74% 68% 69% 70% 75% 72% 
Fidelity Freedom Blend 2065 Fund          
December 2019 77% 84% 94% 72% 73% 69% 75% 73% 72% 

A percentage of the dividends distributed during the prior 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          
February 2019 3% 3% 0% 3% 2% 2% 2% 2% 2% 
March 2019  2% 3% 5% 1% 2% 2% 2% 2% 2% 

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          
April 2019 0% 0% 0% 0% 0% 0% 0% 0% 0% 
May 2019 2% 2% 5% 1% 1% 1% 1% 1% 1% 
June 2019 1% 2% 3% 1% 1% 1% 1% 1% 1% 
July 2019 2% 2% 3% 1% 1% 1% 1% 1% 1% 
August 2019 2% 1% 3% 1% 1% 1% 1% 1% 1% 
September 2019 2% 2% 3% 1% 1% 1% 1% 1% 1% 
October 2019 2% 2% 4% 2% 1% 1% 2% 1% 1% 
November 2019 2% 3% 0% 1% 1% 1% 2% 1% 1% 
December 2019 1% 1% 1% 1% 1% 1% 1% 1% 1% 
February 2020 1% 1% 0% 1% 1% 1% 1% 1% 1% 
March 2020 1% 1% 2% 1% 1% 1% 1% 1% 1% 
Fidelity Freedom Blend 2005 Fund          
May 2019 0% 0% 0% 2% 5% 2% 0% 5% 3% 
December 2019 2% 2% 2% 2% 2% 2% 2% 2% 2% 
Fidelity Freedom Blend 2010 Fund          
May 2019 0% 0% 0% 2% 0% 2% 0% 0% 0% 
December 2019 2% 2% 3% 2% 2% 2% 2% 2% 2% 
Fidelity Freedom Blend 2015 Fund          
May 2019 0% 0% 0% 0% 0% 2% 0% 0% 0% 
December 2019 2% 2% 3% 2% 2% 2% 2% 2% 2% 
Fidelity Freedom Blend 2020 Fund          
May 2019 0% 0% 0% 0% 0% 2% 0% 0% 0% 
December 2019 2% 3% 3% 2% 2% 2% 2% 2% 2% 
Fidelity Freedom Blend 2025 Fund          
May 2019 0% 0% 0% 0% 0% 3% 0% 0% 0% 
December 2019 2% 3% 3% 2% 2% 2% 2% 2% 2% 
Fidelity Freedom Blend 2030 Fund          
May 2019 0% 0% 0% 0% 0% 3% 0% 0% 0% 
December 2019 3% 3% 4% 3% 2% 3% 3% 3% 3% 
Fidelity Freedom Blend 2035 Fund          
May 2019 0% 0% 0% 0% 0% 4% 0% 0% 0% 
December 2019 3% 4% 4% 3% 3% 3% 3% 3% 3% 
Fidelity Freedom Blend 2040 Fund          
May 2019 0% 0% 0% 0% 0% 4% 0% 0% 0% 
December 2019 4% 4% 5% 3% 3% 3% 3% 3% 3% 
Fidelity Freedom Blend 2045 Fund          
May 2019 0% 0% 0% 0% 0% 5% 0% 0% 0% 
December 2019 4% 4% 0% 3% 3% 3% 3% 4% 3% 
Fidelity Freedom Blend 2050 Fund          
May 2019 0% 0% 0% 0% 0% 5% 0% 0% 0% 
December 2019 4% 4% 5% 3% 3% 3% 3% 4% 3% 
Fidelity Freedom Blend 2055 Fund          
May 2019 0% 0% 0% 0% 0% 6% 0% 0% 0% 
December 2019 4% 4% 0% 4% 3% 3% 3% 4% 3% 
Fidelity Freedom Blend 2060 Fund          
May 2019 0% 0% 0% 0% 0% 9% 0% 0% 0% 
December 2019 4% 4% 0% 4% 3% 3% 3% 4% 3% 
Fidelity Freedom Blend 2065 Fund          
December 2019 3% 4% 4% 3% 3% 3% 3% 3% 3% 
          

The funds will notify shareholders in January 2021 of amounts for use in preparing 2020 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, 2018 through November 30, 2019. 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.





Fidelity Investments

FBF-ANN-0520
1.9890344.101



Item 2.

Code of Ethics


As of the end of the period, March 31, 2020, 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, 2020 FeesA,B


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




March 31, 2019 FeesA,B


Audit Fees

Audit-Related Fees

Tax Fees

All Other Fees

Fidelity Advisor Freedom Income Fund

 $27,000

$-

 $5,000    

$800

Fidelity Advisor Freedom 2005 Fund

$26,000

$-


$5,000    

$700

Fidelity Advisor Freedom 2010 Fund

$26,000

$-

$5,000    

$700

Fidelity Advisor Freedom 2015 Fund

$26,000

$-

$5,000    

$700

Fidelity Advisor Freedom 2020 Fund

$26,000

$-

$5,000    

$700

Fidelity Advisor Freedom 2025 Fund

$26,000

$-

$5,000    

$700

Fidelity Advisor Freedom 2030 Fund

$26,000

$-

$5,000    

$700

Fidelity Advisor Freedom 2035 Fund

$26,000

$-

$5,000    

$700

Fidelity Advisor Freedom 2040 Fund

$26,000

$-

$5,000    

$700

Fidelity Advisor Freedom 2045 Fund

 $27,000

$-

$5,000    

$800

Fidelity Advisor Freedom 2050 Fund

 $26,000

$-

 $5,000    

$700

Fidelity Advisor Freedom 2055 Fund

 $27,000

$-

$5,000    

$800

Fidelity Advisor Freedom 2060 Fund

 $27,000

$-

$5,000    

$800

Fidelity Advisor Freedom 2065 Fund

 $-

$-

$-    

$-

Fidelity Freedom Index Income Fund

 $20,000

$-

 $4,800    

$600

Fidelity Freedom Index 2005 Fund

$20,000

$-

 $4,800    

$600

Fidelity Freedom Index 2010 Fund

$20,000

$-

 $4,800    

$600

Fidelity Freedom Index 2015 Fund

$20,000

$-

 $4,800    

$600

Fidelity Freedom Index 2020 Fund

$20,000

$-

 $4,800    

$600

Fidelity Freedom Index 2025 Fund

$20,000

$-

 $4,800    

$600

Fidelity Freedom Index 2030 Fund

$20,000

$-

 $4,800    

$600

Fidelity Freedom Index 2035 Fund

$20,000

$-

 $4,800    

$600

Fidelity Freedom Index 2040 Fund

$20,000

$-

 $4,800    

$600

Fidelity Freedom Index 2045 Fund

$20,000

$-

 $4,800    

$600

Fidelity Freedom Index 2050 Fund

$20,000

$-

 $4,800    

$600

Fidelity Freedom Index 2055 Fund

$20,000

$-

 $4,800    

$600

Fidelity Freedom Index 2060 Fund

 $20,000

$-

 $4,800    

$600

Fidelity Freedom Index 2065 Fund

 $-

$-

 $-    

$-



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, 2020 FeesA,B


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



March 31, 2019 FeesA,B


Audit Fees

Audit-Related Fees

Tax Fees

All Other Fees

Fidelity Flex Freedom Blend Income Fund

 $19,000  

$1,500

 $3,000   

$900

Fidelity Flex Freedom Blend 2005 Fund

 $21,000  

$1,700

$3,000    

$1,000

Fidelity Flex Freedom Blend 2010 Fund

 $21,000  

$1,700

 $3,000    

$1,000

Fidelity Flex Freedom Blend 2015 Fund

 $21,000  

$1,700

$3,000       

$1,000

Fidelity Flex Freedom Blend 2020 Fund

 $21,000  

$1,700

$3,000    

$1,000

Fidelity Flex Freedom Blend 2025 Fund

 $21,000  

$1,700

 $3,000    

$1,000

Fidelity Flex Freedom Blend 2030 Fund

 $21,000  

$1,700

 $3,000    

$1,000

Fidelity Flex Freedom Blend 2035 Fund

 $21,000  

$1,700

 $3,000    

$1,000

Fidelity Flex Freedom Blend 2040 Fund

 $21,000  

$1,700

 $3,000    

$1,000

Fidelity Flex Freedom Blend 2045 Fund

 $21,000  

$1,700

 $3,000    

$1,000

Fidelity Flex Freedom Blend 2050 Fund

 $21,000  

$1,700

 $3,000    

$1,000

Fidelity Flex Freedom Blend 2055 Fund

$21,000

$1,700

 $3,000    

$1,000

Fidelity Flex Freedom Blend 2060 Fund

$21,000

$1,700

$3,000    

$1,000

Fidelity Flex Freedom Blend 2065 Fund

$-

$-

$-    

$-

Fidelity Freedom Income Fund

 $26,000  

$2,000

$2,400    

$1,200

Fidelity Freedom 2005 Fund

 $27,000  

$2,000

$2,400    

$1,200

Fidelity Freedom 2010 Fund

 $28,000  

$2,000

$2,400    

$1,200

Fidelity Freedom 2015 Fund

 $28,000  

$2,000

$2,400    

$1,200

Fidelity Freedom 2020 Fund

 $28,000  

$2,000

$2,400    

$1,200

Fidelity Freedom 2025 Fund

 $28,000  

$2,000

$2,400    

$1,200

Fidelity Freedom 2030 Fund

 $28,000  

$2,000

$2,400    

$1,200

Fidelity Freedom 2035 Fund

 $29,000  

$2,000

$2,400    

$1,200

Fidelity Freedom 2040 Fund

 $29,000  

$2,000

$2,400    

$1,200

Fidelity Freedom 2045 Fund

 $29,000  

$2,000

$2,400    

$1,200

Fidelity Freedom 2050 Fund

 $29,000  

$2,000

$2,400    

$1,200

Fidelity Freedom 2055 Fund

 $26,000  

$2,000

$2,400    

$1,200

Fidelity Freedom 2060 Fund

 $27,000  

$2,000

$2,400    

$1,200

Fidelity Freedom 2065 Fund

 $-  

$-

$-    

$-

Fidelity Freedom Blend Income Fund

 $20,000  

$900

$2,400    

$500

Fidelity Freedom Blend 2005 Fund

 $20,000  

$900

$2,400    

$500

Fidelity Freedom Blend 2010 Fund

 $20,000  

$900

$2,400    

$500

Fidelity Freedom Blend 2015 Fund

 $20,000  

$900

$2,400    

$500

Fidelity Freedom Blend 2020 Fund

 $20,000  

$900

$2,400    

$500

Fidelity Freedom Blend 2025 Fund

 $20,000  

$900

$2,400    

$500

Fidelity Freedom Blend 2030 Fund

 $20,000  

$900

$2,400    

$500

Fidelity Freedom Blend 2035 Fund

 $20,000  

$900

$2,400    

$500

Fidelity Freedom Blend 2040 Fund

 $20,000  

$900

$2,400    

$500

Fidelity Freedom Blend 2045 Fund

 $20,000  

$900

$2,400    

$500

Fidelity Freedom Blend 2050 Fund

 $20,000  

$900

$2,400    

$500

Fidelity Freedom Blend 2055 Fund

 $20,000  

$900

$2,400    

$500

Fidelity Freedom Blend 2060 Fund

 $20,000  

$900

$2,400    

$500

Fidelity Freedom Blend 2065 Fund

 $-  

$-

$-    

$-



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, 2020A,B

March 31, 2019A,B

Audit-Related Fees

$-

$290,000

Tax Fees

$3,000

$5,000

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 Funds commencement of operations.




Services Billed by PwC




March 31, 2020A,B

March 31, 2019A,B

Audit-Related Fees

$8,596,700

$7,890,000

Tax Fees

$17,700

$20,000

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 Funds 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, 2020A,B

March 31, 2019A,B

Deloitte Entities

$717,400

$890,000

PwC

$13,788,200

$12,575,000



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 Funds 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 FMRs 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 trusts Audit Committee must pre-approve all audit and non-audit services provided by a funds 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 Committees 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 Chairs 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 Funds(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 trusts Board of Trustees.


Item 11.

Controls and Procedures


(a)(i)  The President and Treasurer and the Chief Financial Officer have concluded that the trusts 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 trusts 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 trusts internal control over financial reporting.


Item 12.

Disclosure of Securities Lending Activities for Closed-End Management

Investment Companies


Not applicable.


Item 13.

Exhibits


(a)

(1)

Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH.

(a)

(2)

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

(a)

(3)

Not applicable.

(b)


Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.




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 21, 2020


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 21, 2020



By:

/s/John J. Burke III


John J. Burke III


Chief Financial Officer



Date:

May 21, 2020