Fisher Smith ‘24 pitched Arm Holdings plc (ARM) on November 27, 2023. Arm operates in the semiconductor industry and licenses its intellectual property (IP) out to companies for use in their own semiconductor products. The company recently completed its initial public offering on the NASDAQ in September of this year. Fisher’s investment thesis cites ARM’s dominance across the smartphone and mobile segments and its forward-looking strategy to diversify into other high-growth semiconductor applications, including automotive, IoT, and data centers. Given increasing demand for more powerful, energy-efficient, and compact semiconductors, ARM CPUs look well-positioned to benefit from increased industry adoption going forward. SMIF voted to buy approximately $56,000 of Arm Holdings plc (ARM), funded by the sale of XSD.