Man holding a bottle (5)
I believe the answer is:
phial
'bottle' is the definition.
(phial is a kind of bottle)
'man holding a' is the wordplay.
'man' becomes 'phil' (**).
'holding' indicates putting letters inside.
'phil' placed around 'a' is 'PHIAL'.
(Other definitions for phial that I've seen before include "Small bottle (containing a drug)" , "Small bottle for liquids" , "Source of medicine" , "glass container" , "Small bottle for potions etc" .)