What smart money is saying about Arm Holdings plc
ARM · Technology · Semiconductors · Market cap $250.48B
9 funds in our archive have pitched Arm Holdings plc — most recently Artisan Partners Developing World Fund in September 2026.
Company profile
Arm Holdings plc is a leading technology firm that conceptualizes, engineers, and licenses core processing unit (CPU) designs and complementary technologies. These foundational innovations are crucial for semiconductor manufacturers and original equipment manufacturers (OEMs) to develop their own products. The company's diverse portfolio encompasses microprocessors, comprehensive system intellectual property (IP) solutions, graphics processing units (GPUs), physical IP alongside its associated system IPs, various software offerings, development tools, and an array of supplementary services. Its technology underpins a wide spectrum of industries, including the automotive sector, advanced computing infrastructure, consumer electronics, and the burgeoning Internet of Things (IoT) landscape. Established in 1990, Arm Holdings plc maintains its corporate headquarters in Cambridge, United Kingdom. With a significant global footprint, Arm conducts operations across the United States, the People's Republic of China, Taiwan, South Korea, and numerous other international regions. Currently, Arm Holdings plc functions as a subsidiary entity of Kronos II LLC.
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Fund signal · last 12 months
36 lettersFunds are split between buying and selling
+1
Net flow
9 buys · 4 new positions · 53%8 sells
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q3 2025 and Q3 2026, 37 fund letters reported a position in Arm Holdings plc, with 9 buys (opened or added) and 9 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 13 | 5 | 0 | 4 |
| Q2 2026 | 23 | 4 | 8 | 5 |
| Q3 2025 | 1 | 0 | 1 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 37 positions · 28 moves
- September 2026
“In semiconductors and AI infrastructure, we initiated positions in Advanced Micro Devices, ARM and KLA, which offer differentiated exposure to high-performance computing, power-efficient processor architecture and advanced-chip inspection and metrology.”
Arm Holdings plc - HoldsBlueBox Global Technology FundSeptember 2026
Listed in BlueBox Global Technology Fund’s reported holdings.
Arm Holdings plc - September 2026
“Southeast Asian mobility company Grab Holdings, British semiconductor design company ARM, Indian online travel company MakeMyTrip, and Indian online insurance marketplace PB Fintech. Micron fell during the quarter as investors debated AI industry capex sustainability while digesting the impact of significant investor leverage tied to AI investments across global markets. Grab Holdings declined due to a potential stake sale by Uber and the implementation of a commission cap on two-wheeler rides in Indonesia. ARM declined due to broader selling in the semiconductor space and questions about the company's ability to effectively meet demand for its own chip, despite the role that CPU chips are likely to play in agentic use cases.”
Arm Holdings plc - New positionBaillie Gifford US Equity GrowthSeptember 2026
“Enormous demand for computing capacity has produced shortages across parts of the semiconductor supply chain. In some cases, scarcity has generated extraordinary profits. Memory company Micron’s recent growth has been driven almost entirely by pricing rather than volume. But scarcity and competitive advantage are not the same thing. Supply eventually responds, bottlenecks move elsewhere in the system, and prices normalise. Rather than chasing these bottlenecks, we want to find the enduring winners of this extraordinary demand. During the quarter, we initiated positions in semiconductor companies Arm and KLA.”
Arm Holdings plc - September 2026
“During the quarter, we added to Arm and KLA, building our exposure to two high-quality businesses involved in the design and manufacture of leading-edge semiconductors.”
Arm Holdings plc - September 2026
“Bottom contributors to performance for the quarter included US-based memory supplier Micron, Southeast Asian mobility company Grab Holdings, British semiconductor design company ARM, Indian online travel company MakeMyTrip, and Indian online insurance marketplace PB Fintech. Micron fell during the quarter as investors debated AI industry capex sustainability while digesting the impact of significant investor leverage tied to AI investments across global markets. Grab Holdings declined due to a potential stake sale by Uber and the implementation of a commission cap on two-wheeler rides in Indonesia. ARM declined due to broader selling in the semiconductor space and questions about the company's ability to effectively meet demand for its own chip, despite the role that CPU chips are likely to play in agentic use cases.”
Arm Holdings plc - New positionLiontrust Sustainable Future Global Growth FundSeptember 2026
“Arm (Improving the efficiency of energy use) develops and licenses processor architectures and designs used in smartphones and increasingly across cloud computing, automotive and AI infrastructure.”
Arm Holdings plc - September 2026
“Arm (Improving the efficiency of energy use) develops and licenses processor architectures and designs used in smartphones and increasingly across cloud computing, automotive and AI infrastructure.”
Arm Holdings plc - September 2026
“Arm (Improving the efficiency of energy use) develops and licenses processor architectures and designs used in smartphones and increasingly across cloud computing, automotive and AI infrastructure.”
Arm Holdings plc - September 2026
“Trading activity during the quarter focused on adding to high-conviction holdings where we see attractive near- term upside, while carefully managing the portfolio’s broader factor exposures. In particular, we have sought to reduce the portfolio’s exposure to factors that have weighed on performance during 2026, particularly sensitivity to rising bond yields and the balance between perceived AI winners and losers while maintaining exposure to companies where our fundamental conviction remains strong. Buys Fujikura (Improving the efficiency of energy use) is a Japanese manufacturer specialising in ultra-high-density optical fibre and cabling used in AI data centres. Its products form part of the physical connectivity infrastructure of data centres, where higher fibre density helps reduce space requirements and cabling complexity. As AI workloads become more demanding, fast, high-bandwidth connections between GPUs become increasingly important in minimising communication bottlenecks and improving overall data-centre efficiency. Fujikura’s advanced high-density fibre solutions give it a strong competitive position in this market, leaving it well placed to benefit from continued investment in AI infrastructure. KLA (Better monitoring of supply chains and quality control) is the global leader in semiconductor process control, providing the inspection and measurement technologies essential to advanced chip manufacturing. Its tools help 4 chipmakers improve manufacturing yields and reduce defects, and are becoming increasingly important as semiconductor grows more complex and expensive. KLA combines a dominant market position with high margins and disciplined management, while benefiting from growing demand for increasingly sophisticated semiconductor manufacturing processes, particularly those required for AI chips. Despite an improving growth outlook, the shares had fallen significantly from recent highs, presenting what we believed was an attractive entry point. Arm (Improving the efficiency of energy use) develops and licenses processor architectures and designs used in smartphones and increasingly across cloud computing, automotive and AI infrastructure.”
Arm Holdings plc - New positionLiontrust Sustainable Future Managed Growth FundSeptember 2026
“Arm (Improving the efficiency of energy use) develops and licenses processor architectures and designs used in smartphones and increasingly across cloud computing, automotive and AI infrastructure.”
Arm Holdings plc - New positionRoyal London AM US Equity TrustSeptember 2026
“Looking at transactions, we added to Nebius, which provides data and AI infrastructure, and established a larger position in ARM Holdings, increasing exposure to AI and neocloud- computing.”
Arm Holdings plc - New positionRoyal London AM US Equity Fund (IRL)September 2026
“Looking at transactions, we added to Nebius, which provides data and AI infrastructure, and established a larger position in ARM Holdings, increasing exposure to AI and neocloud- computing.”
Arm Holdings plc - June 2026
“We have been discerning in our portfolio's AI investments and focused on the companies that we believe have the intent and technologies to enable positive change. A prime example of that is Arm , the top contributor to performance this quarter. We took a holding in mid-2025, recognising that the company's high-performance, low-power processor architectures would benefit from rising demand and higher margins as its products expand from smartphones into data centres and other compute-intensive applications. Their ability to enable more energy-efficient AI has a clear positive impact; this technology is transformational but also power-consuming. In the short term, Arm's progress has surpassed our expectations. The share price has almost tripled since it entered the portfolio, driven by agentic AI that is driving demand for central processing units (CPUs), a positive for both Arm's embedded CPU technology and also its newly launched CPU chips. We still have conviction in Arm but recognise that market expectations are very high, so in June we trimmed the position, halving it to a more moderate 3 percent.”
Arm Holdings plc - June 2026
“We increased the portfolio's exposure to specific parts of the AI infrastructure theme through purchases of Nebius Group and Arm Holdings.”
Arm Holdings plc - June 2026
“We continued to upgrade the portfolio, increasing exposure to areas where we see stronger long-term wealth creation opportunities and more attractive risk-reward characteristics. We added to Cisco Systems, Lumentum Holdings and Hannover Re, reflecting improving conviction in their respective wealth creation outlooks and attractive valuation support. We also initiated a position in QXO, taking advantage of share price weakness to gain exposure to what we believe could become a leading consolidator in the highly fragmented building products distribution market. Within industrials, we switched part of our position from Volvo into Daimler Truck. While both companies score similarly within our framework, we believe Daimler Truck offers the more attractive valuation opportunity. The company is executing a significant operational turnaround, and current earnings expectations appear overly conservative given improving freight market conditions and the potential benefits from ongoing cost reduction initiatives. We increased the portfolio's exposure to specific parts of the AI infrastructure theme through purchases of Nebius Group and Arm Holdings.”
Arm Holdings plc - June 2026
“We added to Cisco Systems and Lumentum Holdings, reflecting our improving conviction in their respective wealth creation outlooks and attractive valuations. We also initiated a position in QXO, taking advantage of share price weakness to gain exposure to what we believe could become a leading consolidator in the highly fragmented building products distribution market. We increased the portfolio's exposure to specific parts of the AI infrastructure theme through purchases of Nebius Group and Arm Holdings.”
Arm Holdings plc - June 2026
“We also added Arm Holdings, which designs the technology that powers many of the world’s computer chips and earns money by licensing its designs to other companies.”
Arm Holdings plc - June 2026
“We increased the portfolio's exposure to specific parts of the AI infrastructure theme through purchases of Nebius Group and Arm Holdings.”
Arm Holdings plc - New positionRoyal London AM Global Equity Select FundJune 2026
“We also added Arm Holdings, which designs the technology that powers many of the world’s computer chips and earns money by licensing its designs to other companies.”
Arm Holdings plc - June 2026
“NVIDIA was harvested in part to seed an investment in ARM Holdings in 2024, which we believed could play a critical role in custom chip development and AI chip proliferation.”
Arm Holdings plc - June 2026
“Arm (+133%) was the top performer for the period, supported by strong company results and continued enthusiasm for AI infrastructure. The company, which licenses intellectual property to CPU semiconductor designers and is held under our Improving the efficiency of energy use theme, reported record quarterly and full- year revenues in May, with royalty growth supported by demand across smartphones, edge AI, cloud AI and data centres.”
Arm Holdings plc - June 2026
“Positions in Amazon, Arm Holdings, Fast Retailing, and Nvidia were trimmed on strength.”
Arm Holdings plc - June 2026
“The Fund’s strongest performers over the quarter were all closely tied to the ongoing AI and semiconductor investment cycle: Palo Alto Networks, Advantest, ASML and ARM.”
Arm Holdings plc - June 2026
“We locked in gains across the complex, exiting Credo in full and materially reducing Astera Labs and Arm.”
Arm Holdings plc - June 2026
“The same discipline applied here: unit holdings in Arm, Astera Labs, Credo and Elite Material were each cut by around 60%.”
Arm Holdings plc - June 2026
Listed in Liontrust GF Sustainable Future Multi-Asset Global Fund’s reported holdings.
Arm Holdings plc - June 2026
“Arm (+133%) is the quiet compounder of the same shift: its architecture underpins the hyperscalers’ custom CPU programmes, including AWS’s Graviton, and agentic AI is hungry for CPU capacity, roughly 120 million CPU cores per gigawatt, four times traditional workloads. We locked in gains across the complex, exiting Credo in full and materially reducing Astera Labs and Arm.”
Arm Holdings plc - June 2026
“Arm (+133%) was the top performer for the period, supported by strong company results and continued enthusiasm for AI infrastructure. The company, which licenses intellectual property to CPU semiconductor designers and is held under our Improving the efficiency of energy use theme, reported record quarterly and full- year revenues in May, with royalty growth supported by demand across smartphones, edge AI, cloud AI and data centres.”
Arm Holdings plc - June 2026
“ARM Holdings (ARM) was our strongest contributor during the quarter.”
Arm Holdings plc - June 2026
“Portfolio Changes We initiated new positions in Equinix and Arista Networks and exited our positions in Aon and Intuit. Positions in Microsoft, Waste Management, Netflix, Ecolab, and Yum! Brands were added to on weakness while also adding to our positions in Alphabet, Apple, Nvidia, and ServiceNow given their strong long-term growth prospects. Positions in Arm Holdings, Amazon, Broadcom, and Grainger were trimmed on strength while we trimmed our position in CPKC given headline risk from USMCA negotiations.”
Arm Holdings plc - June 2026
“Positions in Arm Holdings, Fast Retailing, and L’Oreal were trimmed on strength, while Haleon and Universal Music Group were trimmed due to slower growth outlooks.”
Arm Holdings plc - June 2026
“AMD contributed 194bps to performance for the June quarter, and ARM contributed 165bps over the same period.”
Arm Holdings plc - June 2026
“Volatility to Start 2026 Three positions were the primary drivers of our outperformance during the quarter: ARM Holdings, Palo Alto Networks, and Taiwan Semiconductor Manufacturing Company. ARM Holdings (ARM) was our strongest contributor during the quarter.”
Arm Holdings plc - June 2026
“ASML, Arm and TSMC are good examples of this. ASML produces the machines that make advanced chip manufacturing possible. Arm designs the chip architecture, and TSMC manufactures those advanced chips. These companies were among the strongest contributors this quarter. Their performance has reflected clear competitive advantages, strong operational delivery, and the market’s growing recognition of how essential they are to the next phase of computing and the benefits that should bring to the world. But portfolio resilience also requires discipline on position sizing. After strong share-price performance, we trimmed Arm, TSMC and ASML.”
Arm Holdings plc - June 2026
“A prime example of that is Arm , the top contributor to performance this quarter. We took a holding in mid-2025, recognising that the company’s high-performance, low-power processor architectures would benefit from rising demand and higher margins as its products expand from smartphones into data centres and other compute-intensive applications. Their ability to enable more energy-efficient AI has a clear positive impact; this technology is transformational but also power-consuming. In the short term, Arm’s progress has surpassed our expectations. The share price has almost tripled since it entered the portfolio, driven by agentic AI that is driving demand for central processing units (CPUs), a positive for both Arm’s embedded CPU technology and also its newly launched CPU chips. We still have conviction in Arm but recognise that market expectations are very high, so in June we trimmed the position, halving it to a more moderate 3 percent.”
Arm Holdings plc - September 2025
“we sold 7 positions to zero in Q3: o six in technology: Tyler Technologies, CyberArk Software, Salesforce, Atlassian, ARM Holdings, Toast”
Arm Holdings plc
Also mentioned · 3
These funds discuss Arm Holdings plc — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedBaillie Gifford International AlphaJune 2026
“Shortly after we initiated our position in SoftBank, it announced record profits boosted by outstanding operational performance from separately listed chip designer, Arm, and continued upward revisions in OpenAI's private valuation.”
Arm Holdings plc - MentionedBaillie Gifford Japanese EquitiesJune 2026
“Through its 90 percent holding in chip designer Arm and roughly 13 percent holding in OpenAI, it is critical to enabling the next layer of AI infrastructure.”
Arm Holdings plc - MentionedHennessy Japan FundApril 2026
“SoftBank Group SoftBank Group’s shares rebounded sharply this month. While we have not commented in detail on the company or developments in AI frontier models since our October 2025 commentary, the rapid shifts in the competitive landscape have prompted us to reduce our position. The environment has shifted beyond our initial expectations, and OpenAI’s prospects no longer appear unassailable as they did a year ago. Although the outlook remains mixed, it is clear that the gap between OpenAI and its closest competitors has narrowed since last summer, when we aggressively increased our exposure. Despite this adjustment, we continue to hold a stake in SoftBank Group for two primary reasons. First, the growth outlook for Arm. SoftBank retains an approximate 90% stake in Arm, the UK‑based semiconductor design company.”
Arm Holdings plc
Fund coverage · 9 theses
- Artisan Partners Developing World FundSeptember 2026
Arm could benefit from agentic AI demand for CPUs and its power-efficient CPU IP.
Read the full thesis - Baillie Gifford US Equity Growth StrategySeptember 2026
Arm Holdings plc is a high-quality semiconductor design business with attractive, resilient margins and exposure to the growing AI opportunity.
Read the full thesis - Liontrust GF Sustainable Future Pan-European Growth FundSeptember 2026
Arm develops semiconductor intellectual property based on RISC architecture, which improves efficiency by reducing complexity.
Read the full thesis - Liontrust Sustainable Future Global Growth FundSeptember 2026
Arm licenses processor architectures and is positioned to benefit from long-term computing demand and the energy efficiency of its CPUs in data centres.
Read the full thesis Arm is benefiting from the CPU renaissance in AI because its power-efficient architecture fits agentic workloads.
Read the full thesis- Baillie Gifford Positive ChangeJune 2026
Arm designs low-power processor architectures that should benefit from AI-driven demand and expanding use cases beyond smartphones.
Read the full thesis ARM Holdings powers most mobile devices and is increasingly exposed to AI data center workloads, with its new AGI CPU seen as an inflection point for growth.
Read the full thesisArm Holdings is a recurring royalty compounder with pricing power and AI-driven CPU adoption across data centers and devices.
Read the full thesisArm Holdings plc is seen as a licensing-led chip design company with AI-driven royalty growth and expansion into a larger market.
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