The occupied and unoccupied fermionic BPS quantum states of a type-IIA
string stretched between a D6-brane and an orthogonal D2-brane are de
scribed in M-theory by two particular holomorphic curves embedded in a
Kaluza-Klein monopole. The absence of multiply-occupied fermionic sta
tes - the Pauli exclusion principle - is manifested in M-theory by the
absence of any other holomorphic curves satisfying the necessary boun
dary conditions. Stable, non-BPS states with multiple strings joining
the D6-brane and D2-brane are described M-theoretically by non-holomor
phic curves.