Meaning is taken holding significance (4)
I believe the answer is:
gist
'significance' is the definition.
(gist is a kind of significance)
'meaning is taken holding' is the wordplay.
'holding' indicates a hidden word.
'GIST' can be found hidden inside 'meaning is taken'.
(Other definitions for gist that I've seen before include "Main points" , "Core meaning" , "Significance" , "The substance of a text" , "Pith, essence" .)