# EDGAR Filing Document

**Accession Number:** 0001221845
**File Stem:** 0001193125-23-058203
**Filing Date:** 2023-3
**Character Count:** 5198
**Document Hash:** 79eac7f9a1d3480dbcfb61c8405cb1e7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-058203.hdr.sgml**: 20230302

**ACCESSION NUMBER**: 0001193125-23-058203

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230302

**DATE AS OF CHANGE**: 20230302

**EFFECTIVENESS DATE**: 20230302

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK ALLOCATION TARGET SHARES
- **CENTRAL INDEX KEY:** 0001221845
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-109980
- **FILM NUMBER:** 23699165

**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 SERIES E (Series ID: S000046220)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000144517 | BATS SERIES E | BATEX           |

**BLACKROCK ALLOCATION TARGET SHARES** 

**BATS: Series E Portfolio** 

(the "Fund")

**Supplement dated March 2, 2023 (the "Supplement") to the Fund's** 

**Summary Prospectus and Prospectus, each dated July 29, 2022, as supplemented to date** 

**The following changes are made to the Fund's Summary Prospectus and Prospectus, as applicable:** 

**The section of the Summary Prospectus entitled "Key Facts About BATS: Series E Portfolio — Portfolio Managers" and the section of the Prospectus entitled "Fund Overview — Key Facts About BATS: Series E Portfolio — Portfolio Managers" are deleted in their entirety and replaced with the following:** 

***Portfolio Managers***

---

| | | |
|:---|:---|:---|
| **Name** | **Portfolio Manager of<br>the Fund Since** | **Title** |
| Walter O'Conner, CFA | 2014 | Managing Director of BlackRock, Inc. |
| Kevin Maloney, CFA | 2022 | Director of BlackRock, Inc. |
| Phillip Soccio, CFA | 2022 | Director of BlackRock, Inc. |
| Ryan McDonald, CFA | 2023 | Managing Director of BlackRock, Inc. |

---

**The section of the Prospectus entitled "Details About the Funds — How Each Fund Invests — BATS: Series E Portfolio — About the Portfolio Management of the BATS: Series E Portfolio" is deleted in its entirety and replaced with the following:** 

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;**ABOUT THE PORTFOLIO MANAGEMENT OF THE BATS: SERIES E PORTFOLIO** |
| &nbsp;&nbsp;&nbsp;The BATS: Series E Portfolio is managed by a team of financial professionals. Walter O'Conner, CFA, Kevin Maloney, CFA, Phillip Soccio, CFA, and Ryan McDonald, CFA, are the portfolio managers and are jointly and primarily responsible for the day-to-day management of the Fund. Please see "Management of the Funds — Portfolio Manager Information" for additional information about the portfolio management team. |

---

**The section of the Prospectus entitled "Management of the Funds — Portfolio Manager Information — BATS: Series E Portfolio" is deleted in its entirety and replaced with the following:** 

**BATS: Series E Portfolio** 

The BATS: Series E Portfolio is managed by a team of financial professionals. Walter O'Conner, CFA, Kevin Maloney, CFA, Phillip Soccio, CFA, and Ryan McDonald, CFA, are jointly and primarily responsible for the day-to-day management of the Fund.

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio Manager** | **Primary Role** | **Since** | **Title and Recent Biography** |
| Walter O'Conner, CFA | Responsible for the day-to-day management of the Fund's portfolio, including setting the Fund's overall investment strategy and overseeing the management of the Fund. | 2014 | Managing Director of BlackRock, Inc. since 2006. |
| Kevin Maloney, CFA | Responsible for the day-to-day management of the Fund's portfolio, including setting the Fund's overall investment strategy and overseeing the management of the Fund. | 2022 | Director of BlackRock, Inc. since 2021; Vice President of BlackRock, Inc. from 2018 to 2020; Associate of BlackRock, Inc. from 2014 to 2017; Analyst of BlackRock, Inc. from 2011 to 2013. |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio Manager** | **Primary Role** | **Since** | **Title and Recent Biography** |
| Phillip Soccio, CFA | Responsible for the day-to-day management of the Fund's portfolio, including setting the Fund's overall investment strategy and overseeing the management of the Fund. | 2022 | Director of BlackRock, Inc. since 2009; Vice President of BlackRock, Inc. from 2005 to 2009. |
| Ryan McDonald, CFA | Responsible for the day-to-day management of the Fund's portfolio, including setting the Fund's overall investment strategy and overseeing the management of the Fund. | 2023 | Managing Director of BlackRock, Inc. since 2023; Director of BlackRock, Inc. from 2017 to 2022; Vice President of BlackRock, Inc. from 2014 to 2016; Vice President of Moelis & Co. from 2013 to 2014. |

---

**Shareholders should retain this Supplement for future reference.** 

PRO-BATSE-0323SUP