The Al 68 Pd 14.6 Co 17.4 and Al 69.8 Pd 13.8 Co 16.4 alloys were investigated after continuous cooling and/or annealing at 700 °C for 2000 h. In the investigation light microscopy, scanning electron microscopy including energy dispersive X-ray spectroscopy, X-ray diffraction, electron backscatter diffraction, and differential thermal analysis were used. In the as-annealed near-equilibrium conditions of the Al 68 Pd 14.6 Co 17.4 and Al 69.8 Pd 13.8 Co 16.4 alloys U + β + Al 5 Co 2 and U + Al 5 Co 2 were identified, respectively. The U-phase in a majority of investigated samples was found to consist of 2–3 mutations differing from each other in metal composition, but exhibiting the same crystal structure. The mutations showed compositional features of their parent phases (liquid, V, and β).