Over the past decades several new families of well-defined transition metal-based polymerization catalysts have been discovered. 1 Although these systems are generally referred to as "single-site" catalysts, this seems not to hold in all cases. 2 Deviations of the polydispersity (M w /M n ) of the produced (co)-polymers from the theoretical Flory-Schulz value of 2 have been attributed to polymer precipitation and heterogenization of the catalyst giving rise to "multiple-site" catalysis. 2a,c-f The copolymerization of ethene and carbon monoxide to a perfectly alternating polyketone, [CH 2 CH 2 C(O)] n , which is catalyzed by a cationic palladium catalyst, [L 2 PdR] + (X) -(L 2 ) bidentate ligand; X ) weakly or noncoordinating anion; R ) [CH 2 CH 2 C(O)] n OCH 3 or [C(O)CH 2 CH 2 ] n H (n g 0)), generally affords materials with M w /M n ≈ 2. 5-5. 3 This suggests that the initially single-site catalyst becomes a heterogeneous, multiple-site system during copolymerization, in line with the slurry nature of the polyketone manufacturing process. In this communication, evidence is provided from polymer end-group analysis that the running catalyst species, [L 2 PdR] + , exhibits two-stage kinetic behavior. This is ascribed to residence of the catalyst in two different states. Depending on the length of the growing copolymer chain R, the catalyst is either dissolved during copolymerization (at the shorter chains) or polyketone-supported (at the longer chains).Termination during CO/ethene copolymerization proceeds via two competing mechanisms, protonolysis, leading to the formation of a ketone end-group (K; eq 1) and alcoholysis, giving an ester end-group (E; eq 2). 1h,4 After termination via protonolysis a Pdmethoxy species is obtained that gives rise to the formation of an E end-group at the start of the next copolymer chain it produces (eq 3), whereas after alcoholysis a Pd-hydride species is obtained, giving a K end-group in the next chain (eq 4).According to this two-catalytic cycle model, three types of copolymer chains may be produced, those containing: (i) both an ester and a ketone end-group (EK), (ii) two ester end-groups (EE), and (iii) two ketone end-groups (KK). This model also predicts the formation of equal amounts of E and K and, consequently, equal amounts of EE and KK copolymer chains. 1h,5 However, in several cases the E/K ratio in the methanol-soluble oligomer fraction (filtrate) deviated from unity (GC-analysis). 6 For example, when Pd(bdompp)(TFA) 2 (bdompp ) 1,3-bis-(di-(o-methoxyphenyl)phosphino)propane) is employed as the catalyst, the E/K ratio in the filtrates of polyketone produced at 50 bar CO/ethene and 90°C amounts to 0.14, while no oligomeric EE-chains are detected (see Table 1). The E/K ratio in the precipitated polyketone did not significantly deviate from unity. As the latter fraction contains the large majority (>98%) of the chains formed, the E/K ratio of the total products is about unity, indicating that chain transfer occurs in a perfect fashion, that is, only via eq 1-4. These obser...