Even with ARC memory leak can occur, it just inserts the release and autorelease at compile time.
1. You must check for leaks using Build and analyze in Xcode, shift+command+b , you must clear these problems.
2. After that, you can start using the tools using the profile option command+i . This will tell you where the leak may occur.
This link will also help you http://soulwithmobiletechnology.blogspot.in/2011/04/how-to-check-memory-leaks-in-xcode-4.html
Edit: Added some screenshots that I hope will make it clear.
During profiling, after selecting leaks select the call tree option and check the hide system libraries , invert call tree and show obj-c only checkboxes, as shown in the figure below.
After double-clicking on the name of the character below, you will get the line in which it flows. 
You will get something like this.

iNoob
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