# EDGAR Filing Document

**Accession Number:** 0001221845
**File Stem:** 0001193125-25-314334
**Filing Date:** 2025-12
**Character Count:** 3779
**Document Hash:** 63c91de26a7be5ec980759aa13ac56a2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-314334.hdr.sgml**: 20251210

**ACCESSION NUMBER**: 0001193125-25-314334

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251210

**DATE AS OF CHANGE**: 20251210

**EFFECTIVENESS DATE**: 20251210

**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:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-109980
- **FILM NUMBER:** 251562458

**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: Interest Rate Hedge Series (Series ID: S000011985)

---

|  |  |  |
|:---|:---|:---|
| Class Name                       | Ticker Symbol | Class ID   |
| BATS: Interest Rate Hedge Series | BATPX         | C000032703 |

---

## Series and Classes Contracts Data

### BATS: Interest Rate Hedge Series (Series ID: S000011985)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000032703 | BATS: Interest Rate Hedge Series | BATPX           |

**BLACKROCK ALLOCATION TARGET SHARES** 

BATS: Interest Rate Hedge Series

**(the "Fund")** 

**Supplement dated December 10, 2025 to the Prospectus of the Fund, dated October 1, 2025, as supplemented to date** 

**Effective immediately, the following changes are made to the Fund's Prospectus:** 

**The section of the Prospectus entitled "Details About the Funds — How Each Fund Invests — Other Strategies" is amended to add the following:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***Variable and Floating Rate Instruments (BATS: Interest Rate Hedge Series)*** — The Fund may
invest in variable and floating rate instruments whose interest payments adjust periodically based on an underlying benchmark rate.

**The section of the Prospectus entitled "Details About the Funds — Investment Risks — Principal Risks of Investing in the Funds:" is amended to add "Variable and Floating Rate Instrument Risk" as an "Other Risk" of the Fund:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  ***Variable and Floating Rate Instrument Risk (BATS: Short Term Municipal Income Series and BATS: Interest Rate Hedge Series Other Risk)*** — Variable and floating rate securities provide for periodic adjustment in the interest rate paid on the securities. Securities with floating or variable interest rates can be less sensitive to interest
rate changes than securities with fixed interest rates, but may decline in value if their coupon rates do not reset as high, or as quickly, as comparable market interest rates, and generally carry lower yields than fixed securities of the same
maturity. These securities will not generally increase in value if interest rates decline. A decline in interest rates may result in a reduction in income received from variable and floating rate securities held by the Fund and may adversely affect
the value of the Fund's shares. Benchmark interest rates may not accurately track market interest rates. Although floating rate securities are less sensitive to interest rate risk than fixed-rate securities, they are subject to credit risk and
default risk, which could impair their value.

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

PRO-BATSIRHS-1225SUP