Every moment during a project that you spend looking for the right tool is wasted time and results in frustration and bad decisions. The ingenious HOLDSaBIT slips on or off a drill in seconds. Simply pull one loop over the front of the drill and pull the second loop to the back of the drill. The HOLDSaBIT will hold any 1/4? hex shank item as well as pencils, nut drivers and hex shank drill bits.