Quarterly Holdings Report
for
Fidelity Advisor Freedom® 2040 Fund
June 30, 2025
AFF40-NPRT1-0825
1.818366.120
Bond Funds - 14.7%
 
  
Shares
Value ($)
 
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (b)
  
122,296
1,224,181
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund (b)
  
158,278
1,220,323
Fidelity Series Emerging Markets Debt Fund (b)
  
1,660,498
13,450,037
Fidelity Series Emerging Markets Debt Local Currency Fund (b)
  
445,203
4,278,404
Fidelity Series Floating Rate High Income Fund (b)
  
282,535
2,503,259
Fidelity Series High Income Fund (b)
  
1,645,088
14,476,774
Fidelity Series International Credit Fund (b)
  
151,298
1,279,978
Fidelity Series International Developed Markets Bond Index Fund (b)
  
7,494,513
65,352,152
Fidelity Series Investment Grade Bond Fund (b)
  
16,115,430
162,765,841
Fidelity Series Long-Term Treasury Bond Index Fund (b)
  
27,286,924
146,803,649
Fidelity Series Real Estate Income Fund (b)
  
256,077
2,565,888
 
TOTAL BOND FUNDS
 (Cost $457,870,779)
  
  
415,920,486
 
  
  
  
Domestic Equity Funds - 48.3%
 
  
Shares
Value ($)
 
Fidelity Advisor Series Equity Growth Fund (b)
  
12,104,855
204,814,146
Fidelity Advisor Series Growth Opportunities Fund (b)
  
8,017,322
144,873,010
Fidelity Series All-Sector Equity Fund (b)
  
7,171,539
95,022,897
Fidelity Series Commodity Strategy Fund (b)
  
54,930
4,992,036
Fidelity Series Intrinsic Opportunities Fund (b)
  
3,012,962
33,142,581
Fidelity Series Large Cap Stock Fund (b)
  
10,682,045
276,558,143
Fidelity Series Large Cap Value Index Fund (b)
  
1,552,151
26,774,597
Fidelity Series Opportunistic Insights Fund (b)
  
6,534,396
176,755,411
Fidelity Series Small Cap Core Fund (b)
  
645,120
7,522,099
Fidelity Series Small Cap Discovery Fund (b)
  
2,282,194
24,716,163
Fidelity Series Small Cap Opportunities Fund (b)
  
3,319,516
48,498,135
Fidelity Series Stock Selector Large Cap Value Fund (b)
  
11,406,126
161,510,741
Fidelity Series Value Discovery Fund (b)
  
9,940,310
160,734,810
 
TOTAL DOMESTIC EQUITY FUNDS
 (Cost $861,000,926)
  
  
1,365,914,769
 
  
  
  
International Equity Funds - 36.6%
 
  
Shares
Value ($)
 
Fidelity Series Canada Fund (b)
  
4,161,581
76,531,466
Fidelity Series Emerging Markets Fund (b)
  
6,366,296
64,999,878
Fidelity Series Emerging Markets Opportunities Fund (b)
  
12,144,974
260,145,353
Fidelity Series International Growth Fund (b)
  
9,983,460
198,171,691
Fidelity Series International Small Cap Fund (b)
  
1,841,582
36,536,989
Fidelity Series International Value Fund (b)
  
12,982,119
198,236,951
Fidelity Series Overseas Fund (b)
  
12,206,508
197,745,423
Fidelity Series Select International Small Cap Fund (b)
  
166,559
2,218,568
 
TOTAL INTERNATIONAL EQUITY FUNDS
 (Cost $657,772,008)
  
  
1,034,586,319
 
  
  
  
U.S. Treasury Obligations - 0.3%
 
  
Yield (%) (c)
Principal
Amount (a)
 
Value ($)
 
US Treasury Bills 0% 7/10/2025 (d)
  
4.25 to 4.26
1,560,000
1,558,365
US Treasury Bills 0% 7/17/2025 (d)
  
4.23 to 4.27
1,260,000
1,257,682
US Treasury Bills 0% 7/24/2025 (d)
  
4.24 to 4.25
3,160,000
3,151,591
US Treasury Bills 0% 7/31/2025 (d)
  
4.23 to 4.26
2,460,000
2,451,458
US Treasury Bills 0% 8/14/2025 (d)
  
4.32
50,000
49,737
US Treasury Bills 0% 8/28/2025 (d)
  
4.28
130,000
129,094
 
TOTAL U.S. TREASURY OBLIGATIONS
 (Cost $8,597,819)
  
  
  
8,597,927
 
  
  
  
  
Money Market Funds - 0.2%
 
  
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (e)
 (Cost $4,657,083)
  
4.32
4,656,152
4,657,083
 
  
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 100.1%
 (Cost $1,989,898,615)
 
  
 
2,829,676,584
NET OTHER ASSETS (LIABILITIES) - (0.1)%  
(1,580,146)
NET ASSETS - 100.0%
2,828,096,438
 
  
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
  
  
  
  
  
 
  
  
  
  
  
Equity Contracts
  
  
  
  
  
ICE MSCI EAFE Index Contracts (United States)
263
Sep 2025
35,264,355
301,804
301,804
ICE MSCI Emerging Markets Index Contracts (United States)
201
Sep 2025
12,396,675
239,278
239,278
 
  
  
  
  
  
TOTAL EQUITY CONTRACTS
  
  
  
  
541,082
 
  
  
  
  
  
Interest Rate Contracts
  
  
  
  
  
CBOT 10 Year US Treasury Bond Contracts (United States)
714
Sep 2025
80,046,094
1,747,347
1,747,347
CBOT US Treasury Long Bond Contracts (United States)
259
Sep 2025
29,865,938
1,208,985
1,208,985
 
  
  
  
  
  
TOTAL INTEREST RATE CONTRACTS
  
  
  
  
2,956,332
 
  
  
  
  
  
TOTAL PURCHASED
  
  
  
  
3,497,414
 
  
  
  
  
  
Sold
  
  
  
  
  
 
  
  
  
  
  
Equity Contracts
  
  
  
  
  
CME S&P 500 Index Contracts (United States)
188
Sep 2025
58,785,250
(2,078,332)
(2,078,332)
 
  
  
  
  
  
TOTAL FUTURES CONTRACTS
  
  
  
  
1,419,082
The notional amount of futures purchased as a percentage of Net Assets is 5.5%
The notional amount of futures sold as a percentage of Net Assets is 2.1%

Legend
 
(a)
Amount is stated in United States dollars unless otherwise noted.
 
(b)
Affiliated Fund
 
(c)
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
 
(d)
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 $7,858,703.
 
(e)
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 are available on the SEC's website or upon request.
 
 
 
 
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
  
 
Shares,
end
of period
% ownership,
end
of period
Fidelity Cash Central Fund
11,143,785
15,454,296
21,940,998
62,257
-
-
4,657,083
4,656,152
0.0%
Total
11,143,785
15,454,296
21,940,998
62,257
-
-
4,657,083
  
  
 
  
  
  
  
  
  
  
  
  
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
 
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
  
 
Shares,
end
of period
Fidelity Advisor Series Equity Growth Fund
188,341,489
1,477,130
14,313,533
-
(44,781)
29,353,841
204,814,146
12,104,855
Fidelity Advisor Series Growth Opportunities Fund
131,740,577
1,460,610
17,248,845
-
1,397,518
27,523,150
144,873,010
8,017,322
Fidelity Advisor Series Small Cap Fund
643,925
-
628,226
-
40,694
(56,393)
-
-
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund
1,299,885
14,405
97,114
4,812
1,828
5,177
1,224,181
122,296
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund
1,245,273
16,912
35,103
4,793
(7,372)
613
1,220,323
158,278
Fidelity Series All-Sector Equity Fund
84,294,013
3,041,151
4,717,825
-
(21,005)
12,426,563
95,022,897
7,171,539
Fidelity Series Canada Fund
67,866,304
538,721
1,925,453
-
455,996
9,595,898
76,531,466
4,161,581
Fidelity Series Commodity Strategy Fund
5,232,978
40,393
117,011
-
6,101
(170,425)
4,992,036
54,930
Fidelity Series Emerging Markets Debt Fund
13,250,209
308,315
321,782
197,232
(37,109)
250,404
13,450,037
1,660,498
Fidelity Series Emerging Markets Debt Local Currency Fund
4,028,313
28,276
81,908
-
(7,512)
311,235
4,278,404
445,203
Fidelity Series Emerging Markets Fund
59,127,741
1,102,704
2,045,881
-
40,064
6,775,250
64,999,878
6,366,296
Fidelity Series Emerging Markets Opportunities Fund
236,653,377
3,456,369
8,152,179
-
277,526
27,910,260
260,145,353
12,144,974
Fidelity Series Floating Rate High Income Fund
2,485,821
70,411
58,506
50,214
(3,347)
8,880
2,503,259
282,535
Fidelity Series High Income Fund
14,042,801
341,464
315,931
232,401
(708)
409,148
14,476,774
1,645,088
Fidelity Series International Credit Fund
1,253,436
15,837
-
15,836
-
10,705
1,279,978
151,298
Fidelity Series International Developed Markets Bond Index Fund
57,308,532
8,618,429
1,315,415
278,209
(19,604)
760,210
65,352,152
7,494,513
Fidelity Series International Growth Fund
176,737,363
6,126,201
4,921,204
-
132,131
20,097,200
198,171,691
9,983,460
Fidelity Series International Small Cap Fund
36,475,548
28,623
6,029,193
-
1,230,353
4,831,658
36,536,989
1,841,582
Fidelity Series International Value Fund
191,208,356
1,439,792
16,981,152
-
5,268,890
17,301,065
198,236,951
12,982,119
Fidelity Series Intrinsic Opportunities Fund
31,802,951
240,570
947,505
-
(70,399)
2,116,964
33,142,581
3,012,962
Fidelity Series Investment Grade Bond Fund
133,662,819
31,477,784
2,973,435
1,523,223
(11,527)
610,200
162,765,841
16,115,430
Fidelity Series Large Cap Stock Fund
254,596,495
3,128,135
19,473,758
-
4,656,964
33,650,307
276,558,143
10,682,045
Fidelity Series Large Cap Value Index Fund
25,276,381
1,053,979
519,221
-
(1,442)
964,900
26,774,597
1,552,151
Fidelity Series Long-Term Treasury Bond Index Fund
138,160,819
17,066,145
5,155,963
1,290,028
(2,647,920)
(619,432)
146,803,649
27,286,924
Fidelity Series Opportunistic Insights Fund
161,957,683
1,270,379
14,505,207
-
680,400
27,352,156
176,755,411
6,534,396
Fidelity Series Overseas Fund
178,500,791
1,505,214
5,275,749
-
1,291,327
21,723,840
197,745,423
12,206,508
Fidelity Series Real Estate Income Fund
2,556,392
57,540
58,552
37,296
(130)
10,638
2,565,888
256,077
Fidelity Series Select International Small Cap Fund
472,707
1,482,583
7,166
-
(89)
270,533
2,218,568
166,559
Fidelity Series Small Cap Core Fund
7,033,516
116,946
161,155
-
(25,105)
557,897
7,522,099
645,120
Fidelity Series Small Cap Discovery Fund
23,321,224
606,952
528,878
416,335
(41,670)
1,358,535
24,716,163
2,282,194
Fidelity Series Small Cap Opportunities Fund
45,551,728
598,041
1,925,488
-
266,626
4,007,228
48,498,135
3,319,516
Fidelity Series Stock Selector Large Cap Value Fund
149,254,312
9,115,390
3,101,581
-
(67,765)
6,310,385
161,510,741
11,406,126
Fidelity Series Value Discovery Fund
152,228,570
6,937,629
3,101,581
-
(17,059)
4,687,251
160,734,810
9,940,310
 
2,577,612,329
102,783,030
137,041,500
4,050,379
12,721,874
260,345,841
2,816,421,574
  
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
 
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services 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 the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.   
 
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - Unadjusted 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 investments by major category are as follows:
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. Treasury Obligations are valued by pricing services 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 services. 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.
 
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
 
Derivative Instruments
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative 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 Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or 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 Fund may not achieve its objectives.  
 
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
 
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.
 
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. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.  
 
Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.
 
The Fund used futures contracts to manage its exposure to the stock market.
 
The Fund used futures contracts to manage its exposure to the bond market and fluctuations in interest rates.
 
Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.
 
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
 
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
 
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