Questions regarding partial application of function

[Xyncgas]

Regardless of how F# does closure, if I am doing it manually by building a function that takes 3 arguments, by building the first function that takes one argument that returns the second function that takes one argument that returns the third function that takes one argument, after I got the third function and assuming I fed reference types instead of value types, I understand that it depends on how I implemented these functions for the third functions to look for the previous arguments in some array or in itself. Or maybe I am wrong.

So if I use partial application in F#, normally also passing in some reference types, does it eventually go look for the values when I fully apply the function or they already stored it