Held back at the finish to record there initially (4)
I believe the answer is:
kept
'held' is the definition.
('keep' can be a synonym of 'hold')
'back at the finish to record there initially' is the wordplay.
'at the finish' says to take the final letters.
'to record' becomes 'EP' (abbreviation for extended play record).
'initially' indicates taking the first letters.
The final letter of 'back' is 'k'.
The initial letter of 'there' is 't'.
'k'+'ep'+'t'='KEPT'
(Other definitions for kept that I've seen before include "Saved" , "Maintained, detained" , "Looked after" , "Retained, held back" , "Retained possession" .)