We study BRAC’s Challenging the Frontiers of Poverty Reduction—Targeting the Ultra Poor (CFPR-TUP) program in Bangladesh, which targets asset transfer (primarily livestock) and training to rural women in poor households. Previous research has shown large, significant positive program impacts at the household level. In this paper, we examine intrahousehold impacts using mixed methods. We focus on the Specially Targeted Ultra-Poor (STUP) component of the program, which targets households selected following a randomized controlled trial design. Adding a new round of data collection with quantitative sex-disaggregated information and qualitative exploration, we exploit the randomized design to assess intrahousehold impacts of STUP. Our analysis confirms that the program significantly increases household ownership of various assets but has complex effects on the targeted women.