# EDGAR Filing Document

**Accession Number:** 0001221845
**File Stem:** 0000940400-26-020790
**Filing Date:** 2026-5
**Character Count:** 43900
**Document Hash:** 8f66846cd8161fca482215f0e381282e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020790.hdr.sgml**: 20260526

**ACCESSION NUMBER**: 0000940400-26-020790

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260526

**DATE AS OF CHANGE**: 20260526

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK ALLOCATION TARGET SHARES
- **CENTRAL INDEX KEY:** 0001221845

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21457
- **FILM NUMBER:** 261017641

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800-441-7762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BLACKROCK BOND ALLOCATION TARGET SHARES
- **DATE OF NAME CHANGE:** 20030306

## Series and Classes Contracts Data

### BATS: Short Term Municipal Income Series (Series ID: S000071703)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000227189 | BATS: Short Term Municipal Income Series |  |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** BlackRock Allocation Target Shares

- **b. Investment Company Act file number:** 811-21457

- **c. CIK number of Registrant:** 0001221845

- **d. LEI of Registrant:** 549300R5YFYF3PL2MC94

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

**Item A.2. Information about the Series.**

- **a. Name of Series:** BATS: Short Term Municipal Income Series

- **b. EDGAR series identifier (if any):** S000071703

- **c. LEI of Series:** 549300DF58XWVL2AFN39

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $87163524.10

**Total Liabilities:** $3608474.54

**Net Assets:** $83555049.56

**Delayed Delivery Securities:** $2603470.55

**Cash Not Reported:** $88537.81

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 490.37000000 | **1-Year:** 672.63000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 42.29000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000227189 | 0.15%                | 0.18%                | 0.20%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $14998.34                                  |
| Month 2  | $0.00                    | $-6047.52                                  |
| Month 3  | $0.00                    | $-20328.57                                 |

### Schedule of Portfolio Investments

| Name                                                              | Title                                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BLACK BELT ENERGY GAS DIST ALA                                    | AL BBEUTL 10/01/2052                                  | CUSIP: 09182TAF4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    600000 | PA      | $603596.28    | 0.72%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                             | NY NYSHGR 07/01/2039                                  | CUSIP: 649903YA3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1100000.00   | 1.32%             | 2039-07-01      | Variable      | 2.20%                 | No            |                  2 | On Loan: No      |
| IOWA FIN AUTH                                                     | IA IASMED 02/15/2039                                  | CUSIP: 462466ES8<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 1.20%             | 2039-02-15      | Variable      | 2.70%                 | No            |                  2 | On Loan: No      |
| ST LUCIE (FL), COUNTY OF                                          | FL SUCPOL 09/01/2028                                  | CUSIP: 792070BH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $640000.00    | 0.77%             | 2028-09-01      | Variable      | 2.45%                 | No            |                  2 | On Loan: No      |
| TEXAS ST                                                          | TX TXS 5 10/01/2026                                   | CUSIP: 882725CQ5<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |    325000 | PA      | $329073.16    | 0.39%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS A & M UNIV                                                  | TEXAS A & M UNIV COML PAPER IAM                       | CUSIP: 88212L5A6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1099837.75   | 1.32%             | 2026-06-30      | Fixed         | 2.36%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY                                           | NY NYSHSG 11/15/2037                                  | CUSIP: 64986MYY5<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |    800000 | PA      | $800000.00    | 0.96%             | 2037-11-15      | Variable      | 2.40%                 | No            |                  2 | On Loan: No      |
| POMPTON LAKES N J                                                 | NJ POM 4 06/05/2026                                   | CUSIP: 732233DB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400883.08    | 0.48%             | 2026-06-05      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HINGHAM MASS                                                      | MA HIN 4 02/12/2027                                   | CUSIP: 433344C55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $809773.76    | 0.97%             | 2027-02-12      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH                               | WI WISMED 08/15/2055                                  | CUSIP: 97712JPK3<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    750000 | PA      | $750000.00    | 0.90%             | 2055-08-15      | Variable      | 2.45%                 | No            |                  2 | On Loan: No      |
| EL PASO TEX                                                       | TX ELPUTL 5 03/01/2027                                | CUSIP: 283822ZY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $357076.20    | 0.43%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA HEALTH FACILITIES AUTHORITY (AZ)                          | AZ AZSMED 01/01/2046                                  | CUSIP: 040507QB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1400000.00   | 1.68%             | 2046-01-01      | Variable      | 2.70%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HSG & ECONOMIC DEV AUTH                                 | WI WISGEN 03/01/2038                                  | CUSIP: 97689QCF1<br>LEI: 549300AT0SEG8YQT2K79 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2100000.00   | 2.51%             | 2038-03-01      | Variable      | 2.42%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                                 | MI MISFIN 5 08/20/2026                                | CUSIP: 59447UAC4<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    800000 | PA      | $807287.36    | 0.97%             | 2026-08-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (VA)              | VA FAIDEV 05/15/2042                                  | CUSIP: 303823LR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    940000 | PA      | $940000.00    | 1.13%             | 2042-05-15      | Variable      | 2.46%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY TEX PERM UNIV FD                                       | UNIVERSITY TEX PERM UNIV FD COML PAPER IAM            | CUSIP: 91514CTH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1099844.02   | 1.32%             | 2026-07-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| AUSTIN TEX                                                        | AUSTIN TEX COML PAPER                                 | CUSIP: 05248NYG9<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499999.65    | 0.60%             | 2026-04-21      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| TEXAS WATER DEV BRD                                               | TX TXSWTR 5 10/15/2026                                | CUSIP: 88285AHU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $709553.53    | 0.85%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST UNIV                                                      | OH OHSHGR 06/01/2043                                  | CUSIP: 677632N98<br>LEI: JFC10ZULKO4X2E3HBY86 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.60%             | 2043-06-01      | Variable      | 2.45%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI DEV BK                                                | MS MSSDEV 5 05/01/2026                                | CUSIP: 60534XE77<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    850000 | PA      | $851677.90    | 1.02%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY TEX                                                    | UNIVERSITY TEX COML PAPER IAM 246                     | CUSIP: 91514YLF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000022.60   | 1.20%             | 2026-04-07      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST                                                      | LA LASGEN 05/01/2043                                  | CUSIP: 546475VW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $950000.00    | 1.14%             | 2043-05-01      | Variable      | 2.70%                 | No            |                  2 | On Loan: No      |
| LEWISVILLE INDEPENDENT SCHOOL DISTRICT (TX)                       | TX LEWSCD 5 08/15/2026                                | CUSIP: 52882PHB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504619.05    | 0.60%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH                               | PA PASMED 5 12/15/2026                                | CUSIP: 70870JJC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $177402.14    | 0.21%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y                                      | NY MTATRN 11/01/2032                                  | CUSIP: 59261AB22<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.24%             | 2032-11-01      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVT FIN AUTH                                            | NE NESSFH 09/01/2047                                  | CUSIP: 63968MQD4<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |   2525000 | PA      | $2525000.00   | 3.02%             | 2047-09-01      | Variable      | 2.32%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HSG DEV AUTH                                         | SD SDSHSG 11/01/2041                                  | CUSIP: 83756CA21<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1025000.00   | 1.23%             | 2041-11-01      | Variable      | 2.42%                 | No            |                  2 | On Loan: No      |
| NEBRASKA PUB PWR DIST                                             | NEBRASKA PUB PWR DIST COML PAPER IAM 9                | CUSIP: 63969JAJ4<br>LEI: 5493001J0BLQRMOJKP23 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499999.20    | 0.60%             | 2026-05-21      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST WTR RES AUTH                                     | MASSACHUSETTS ST WTR RES AUTH COML PAPER IAM          | CUSIP: 57604YBU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1399795.04   | 1.68%             | 2026-07-08      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HSG & ECONOMIC DEV AUTH                                 | WI WISGEN 03/01/2041                                  | CUSIP: 97689QNE2<br>LEI: 549300AT0SEG8YQT2K79 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.60%             | 2041-03-01      | Variable      | 2.42%                 | No            |                  2 | On Loan: No      |
| COLORADO ST                                                       | CO COSEDU 5 06/30/2026                                | CUSIP: 19672MDH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503044.50    | 0.60%             | 2026-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                         | PA PASTRN 5 06/01/2027                                | CUSIP: 709225UP9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    650000 | PA      | $666680.17    | 0.80%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                          | VA VASHSG 07/01/2056                                  | CUSIP: 92812XRF1<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000020.00   | 1.20%             | 2056-07-01      | Variable      | 3.12%                 | No            |                  2 | On Loan: No      |
| EASTERN MICH UNIV                                                 | MI EASHGR 03/01/2052                                  | CUSIP: 276731F50<br>LEI: 549300K3C21R17LKDU63 | Long             | DBT              | MUN               | US        |   1480000 | PA      | $1480000.00   | 1.77%             | 2052-03-01      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| EMMAUS GENERAL AUTHORITY (PA)                                     | PA EMMGEN 12/01/2028                                  | CUSIP: 291380ES8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $420000.00    | 0.50%             | 2028-12-01      | Variable      | 2.45%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI BUSINESS FIN CORP MISS                                | MS MSSDEV 12/01/2030                                  | CUSIP: 60528ABP8<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1305000.00   | 1.56%             | 2030-12-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| ALASKA ST HSG FIN CORP                                            | AK AKSHSG 12/01/2030                                  | CUSIP: 0118326M9<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |    495000 | PA      | $495000.00    | 0.59%             | 2030-12-01      | Variable      | 2.42%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS BAY TRANSN AUTH MASS                                | MASSACHUSETTS BAY TRANSN AUTH MASS COML PAPER         | CUSIP: 57559JBK8<br>LEI: 549300CGDCL8XZK3KN03 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999941.70    | 1.20%             | 2026-05-07      | Fixed         | 2.39%                 | No            |                  2 | On Loan: No      |
| LINCOLN NEB                                                       | LINCOLN NEB COML PAPER IAM 189                        | CUSIP: 53427THW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1999994.60   | 2.39%             | 2026-05-19      | Fixed         | 2.46%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH                                | NY NYCUTL 06/15/2039                                  | CUSIP: 64972FWK8<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 1.20%             | 2039-06-15      | Variable      | 2.70%                 | No            |                  2 | On Loan: No      |
| LYNCHBOURG CITY ECONOMIC DEVELOPMENT AUTHORITY (VA)               | VA LNCMED 01/01/2047                                  | CUSIP: 55123TAU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.36%             | 2047-01-01      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| PORT TACOMA WASH                                                  | WA PTT 12/01/2044                                     | CUSIP: 735439NE7<br>LEI: 549300MLYO8L64QKXV81 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1100000.00   | 1.32%             | 2044-12-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| IDAHO HEALTH FACS AUTH                                            | ID IDSMED 12/01/2048                                  | CUSIP: 45129UCB8<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    125000 | PA      | $124975.85    | 0.15%             | 2048-12-01      | Variable      | 2.62%                 | No            |                  2 | On Loan: No      |
| PORT WASHINGTON-SAUKVILLE WIS SCH DIST                            | WI PTWSCD 5 04/01/2026                                | CUSIP: 735587JQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.12%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREEN LAKE TOWNSHIP ECONOMIC DEVELOPMENT (MI)                     | MI GRKDEV 06/01/2034                                  | CUSIP: 393096AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 2.39%             | 2034-06-01      | Variable      | 2.70%                 | No            |                  2 | On Loan: No      |
| LUBBOCK TEX                                                       | TX LUB 5 02/15/2027                                   | CUSIP: 549189AA6<br>LEI: 549300I1QTL3QZV4BX74 | Long             | DBT              | MUN               | US        |    665000 | PA      | $677849.00    | 0.81%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORADELL N J                                                       | NJ ORA 4 07/21/2026                                   | CUSIP: 683897ER9<br>LEI: 54930075CYMQ76JRSZ76 | Long             | DBT              | MUN               | US        |    400000 | PA      | $401309.48    | 0.48%             | 2026-07-21      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA                                           | GA MAIUTL 03/01/2050                                  | CUSIP: 56035DCR1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    490000 | PA      | $491361.27    | 0.59%             | 2050-03-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH                                          | MI MISMFH 12/01/2042                                  | CUSIP: 59465FAN0<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |     60000 | PA      | $59993.02     | 0.07%             | 2042-12-01      | Variable      | 2.67%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH                                | NY NYCUTL 06/15/2041                                  | CUSIP: 64972FK62<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500000.00   | 1.80%             | 2041-06-15      | Variable      | 2.70%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                 | IL ILSFIN 06/01/2034                                  | CUSIP: 45200BHQ4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2095000 | PA      | $2095000.00   | 2.51%             | 2034-06-01      | Variable      | 2.32%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI BUSINESS FIN CORP MISS                                | MS MSSDEV 12/01/2030                                  | CUSIP: 60528ABR4<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    480000 | PA      | $480000.00    | 0.57%             | 2030-12-01      | Variable      | 2.43%                 | No            |                  2 | On Loan: No      |
| HAMPTON ROADS SANITATION DISTRICT (VA)                            | VA HMRUTL 08/01/2046                                  | CUSIP: 409327HZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1070000 | PA      | $1070000.00   | 1.28%             | 2046-08-01      | Variable      | 2.25%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY KANS HOSP AUTH                                         | KS UNIMED 5 03/01/2027                                | CUSIP: 914367JF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $137644.99    | 0.16%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH                                | NY NYCUTL 06/15/2049                                  | CUSIP: 64972GML5<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    700000 | PA      | $700000.00    | 0.84%             | 2049-06-15      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA STATE HOUSING FINANCE & DEVELOPMENT AUTHORITY (SC) | SC SCSMFH 12/01/2058                                  | CUSIP: 83712EHB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1310000.00   | 1.57%             | 2058-12-01      | Variable      | 2.46%                 | No            |                  2 | On Loan: No      |
| TEXAS ST DEPT HSG & CMNTY AFFAIRS                                 | TX TXSMFH 03/01/2041                                  | CUSIP: 88275AFC9<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |    585000 | PA      | $584362.76    | 0.70%             | 2041-03-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH                                          | MI MISMFH 12/01/2042                                  | CUSIP: 59465FAP5<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |     75000 | PA      | $74988.83     | 0.09%             | 2042-12-01      | Variable      | 2.67%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN                  | TN MET 5 01/01/2027                                   | CUSIP: 592112YV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $305512.59    | 0.37%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y                                      | NY MTATRN 11/15/2046                                  | CUSIP: 59261AX28<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.12%             | 2046-11-15      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TEX                                                   | SAN ANTONIO TEX COML PAPER IAM 00008                  | CUSIP: 79627MAH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $800120.32    | 0.96%             | 2026-05-12      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY ARIZ UNI SCH DIST NO 69 PARADISE VY                 | AZ MARSCD 5 07/01/2026                                | CUSIP: 567373U78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $664105.20    | 0.79%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HONEOYE FALLS LIMA NY CENT SCHOOL DIST                            | NY HFLSCD 4 06/25/2026                                | CUSIP: 438209MJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $601817.58    | 0.72%             | 2026-06-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH                             | SC SCSDEV 05/01/2061                                  | CUSIP: 837031ZX4<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2100000.00   | 2.51%             | 2061-05-01      | Variable      | 2.51%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                               | IN INSMED 09/01/2048                                  | CUSIP: 45470YBB6<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    750000 | PA      | $750000.00    | 0.90%             | 2048-09-01      | Variable      | 2.45%                 | No            |                  2 | On Loan: No      |
| UTAH (UT), COUNTY OF                                              | UT UTSMED 05/15/2051                                  | CUSIP: 917393CE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1300000.00   | 1.56%             | 2051-05-15      | Variable      | 2.40%                 | No            |                  2 | On Loan: No      |
| LEGACY DENTON PUB FAC CORP TEX                                    | TX LDPMFH 04/01/2043                                  | CUSIP: 52474GAD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $724628.29    | 0.87%             | 2043-04-01      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| IOWA FIN AUTH                                                     | IA IASSFH 07/01/2046                                  | CUSIP: 462467RZ6<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1300000.00   | 1.56%             | 2046-07-01      | Variable      | 2.41%                 | No            |                  2 | On Loan: No      |
| CHARLESTON CNTY S C SCH DIST                                      | SC CHASCD 4 04/01/2026                                | CUSIP: 160075D79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 1.20%             | 2026-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OAKLAND UNIV MICH                                                 | MI OKLHGR 03/01/2031                                  | CUSIP: 673588DL0<br>LEI: 549300O12XLW6O082V10 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2100000.00   | 2.51%             | 2031-03-01      | Variable      | 2.45%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC DEV FIN AUTH                                    | KY KYSDEV 06/01/2055                                  | CUSIP: 49126PGY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 1.20%             | 2055-06-01      | Variable      | 2.42%                 | No            |                  2 | On Loan: No      |
| EL PASO TEX                                                       | EL PASO TEX COML PAPER IAM 25                         | CUSIP: 28382ABA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $399988.08    | 0.48%             | 2026-04-20      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH & ALLEGHENY CNTY PA SPORTS & EXHIB AUTH                | PA PIT 11/01/2038                                     | CUSIP: 724790AA8<br>LEI: 254900JJT7A9Y409G258 | Long             | DBT              | MUN               | US        |   3300000 | PA      | $3300000.00   | 3.95%             | 2038-11-01      | Variable      | 2.42%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY BRD WTR COMMRS                            | DENVER COLO CITY & CNTY BRD WTR COMMRS COML PAPER IAM | CUSIP: 24917HBQ6<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |    200000 | PA      | $199975.20    | 0.24%             | 2026-06-23      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| BEDFORD MASS                                                      | MA BED 4 04/09/2027                                   | CUSIP: 0762213X6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $812287.12    | 0.97%             | 2027-04-09      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HSG & ECONOMIC DEV AUTH                                 | WI WISGEN 2.65 03/01/2027                             | CUSIP: 97689QYN0<br>LEI: 549300AT0SEG8YQT2K79 | Long             | DBT              | MUN               | US        |    300000 | PA      | $299534.07    | 0.36%             | 2027-03-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY                                       | ND NDSHSG 07/01/2036                                  | CUSIP: 658909JV9<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1730000.00   | 2.07%             | 2036-07-01      | Variable      | 2.42%                 | No            |                  2 | On Loan: No      |
| EAST CNTY ADVANCED WTR PURIFICATION JT PWRS AUTH CALIF            | CA EAWWTR 3.12 09/01/2026                             | CUSIP: 271843AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $800136.48    | 0.96%             | 2026-09-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| PINELLAS CNTY FLA HSG FIN AUTH                                    | FL PINMFH 10/01/2048                                  | CUSIP: 72317BAD4<br>LEI: 549300V26MI0L59X6F68 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1700000.00   | 2.03%             | 2048-10-01      | Variable      | 2.43%                 | No            |                  2 | On Loan: No      |
| MESA (AZ), CITY OF                                                | AZ MESUTL 5 07/01/2026                                | CUSIP: 5905452S7<br>LEI: 549300L1QYAKFHSIGE94 | Long             | DBT              | MUN               | US        |    675000 | PA      | $679044.80    | 0.81%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY TEX                                                    | UNIVERSITY TEX COML PAPER IAM 19                      | CUSIP: 91514TAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999893.70    | 1.20%             | 2026-06-04      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI BUSINESS FIN CORP MISS                                | MS MSSDEV 12/01/2030                                  | CUSIP: 60528ABM5<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1315000.00   | 1.57%             | 2030-12-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| IOWA FIN AUTH                                                     | IA IASSFH 01/01/2047                                  | CUSIP: 462467UA7<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    550000 | PA      | $550000.00    | 0.66%             | 2047-01-01      | Variable      | 2.41%                 | No            |                  2 | On Loan: No      |
| WYOMING CMNTY DEV AUTH                                            | WY WYSHSG 12/01/2048                                  | CUSIP: 98322QTB3<br>LEI: 549300UQ62NB8FGTHW65 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1800000.00   | 2.15%             | 2048-12-01      | Variable      | 2.45%                 | No            |                  2 | On Loan: No      |
| COLORADO SPRINGS (CO), CITY OF                                    | CO CSPUTL 11/01/2036                                  | CUSIP: 196632BH5<br>LEI: 2549003N3PXBHQH2V448 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1400000.00   | 1.68%             | 2036-11-01      | Variable      | 2.30%                 | No            |                  2 | On Loan: No      |
| ARIZONA BOARD OF REGENTS (AZ)                                     | AZ AZSHGR 07/01/2034                                  | CUSIP: 04048RAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2300000.00   | 2.75%             | 2034-07-01      | Variable      | 2.40%                 | No            |                  2 | On Loan: No      |
| TEXAS ST                                                          | TX TXS 06/01/2046                                     | CUSIP: 882723YT0<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.12%             | 2046-06-01      | Variable      | 2.33%                 | No            |                  2 | On Loan: No      |
| TEXAS ST                                                          | TX TXS 12/01/2050                                     | CUSIP: 882724QQ3<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   2015000 | PA      | $2015000.00   | 2.41%             | 2050-12-01      | Variable      | 2.33%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP                                    | NY NYCMFH 03/15/2036                                  | CUSIP: 64970HCH5<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1400000.00   | 1.68%             | 2036-03-15      | Variable      | 2.30%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN ATLANTA RAPID TRAN AUTH GA                           | METROPOLITAN ATLANTA RAPID TRAN AUTH GA COML PAPER    | CUSIP: 59176NAC7<br>LEI: 5493006NVWO3NVLK0F49 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99985.55     | 0.12%             | 2026-07-07      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HSG FIN AUTH                                       | CT CTSHSG 11/15/2045                                  | CUSIP: 20775B8C3<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    725000 | PA      | $725000.00    | 0.87%             | 2045-11-15      | Variable      | 2.41%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                         | PA PASTRN 12/01/2043                                  | CUSIP: 709225JD9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    450000 | PA      | $450000.00    | 0.54%             | 2043-12-01      | Variable      | 2.41%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP                                    | NY NYCMFH 05/01/2054                                  | CUSIP: 64972E5K1<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1800000.00   | 2.15%             | 2054-05-01      | Variable      | 2.25%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MORTGAGE FINANCE AUTHORITY (NM)                        | NM NMSMFH 02/01/2042                                  | CUSIP: 64719HET3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $74997.38     | 0.09%             | 2042-02-01      | Variable      | 2.92%                 | No            |                  2 | On Loan: No      |
| EL PASO TEX                                                       | EL PASO TEX COML PAPER IAM 21                         | CUSIP: 28382AAW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $299993.61    | 0.36%             | 2026-04-07      | Fixed         | 2.47%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-26

**Name of Applicant:** BlackRock Allocation Target Shares

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer