The term 'HOLD FIRST PLACE' can be summarized as having the LEAD or being in first place. This phrase is often used to describe a person or team that is ahead of the competition in a race, game, or other competition. It can also be used to describe someone who is in a position of authority or leadership. The crossword solution for this term is LEAD, which is a four-letter word meaning to guide, direct, or take charge.