Supplying the present holder (8)
I believe the answer is:
stocking
'supplying' is the definition.
(I know that stocking is a type of supplying)
'the present holder' is the wordplay.
I cannot really understand how this works, but
'the' could be 't' (the is pronounced as a 't' sound in some dialects) and 't' is present in the answer.
'present' could be 'in' (as in a student being 'in' class) and 'in' is found in the answer.
This may be the basis of the clue (or it may be nonsense).
(Other definitions for stocking that I've seen before include "a hang-up at Christmas?" , "Filling up" , "Leg wear" , "See 1 Across" , "Covering for foot or leg" .)