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to hold in one's arms (e.g. a baby); to embrace; to hug
to have (a thought or feeling); to hold; to harbour (suspicion, doubt, etc.); to harbor; to bear (a grudge, ill will, etc.); to entertain (hope, illusions, etc.); to cherish (e.g. an ambition)
「懐く」 has another reading with different meanings.
病院で出産した母親が生まれたばかりの赤ちゃんを胸に懐いた。
The mother held the baby in her arms.
若き起業家の彼は世界進出という大きな野望を懐いている。
He harbors great ambitions.
夢を懐き続けて歩んできた。
She has kept walking, holding onto her dreams.