People often hold grudges in response to being wronged by others, but the meaning and aspects of holding grudges remain unclear, as do the theories about how, why, and when they are held. To develop a more comprehensive understanding of what it means to hold a grudge, we conducted 20 semi-structured interviews designed to uncover the thoughts, feelings, and behaviors that are essential to holding a grudge. Our sample consisted of participants who were primarily college aged and women, who were recruited from a North American University and were ethnically diverse. After transcribing the interviews, we conducted a thematic analysis to identify common themes from basic level codes, based on participants' own words, and higher-order themes synthesizing and categorizing the lower-order codes and themes. We found six underlying components of holding a grudge: Need for validation, moral superiority, inability to let go, latency (i.e., existing but not manifest), severing ties, and expectations of the future. We also determined that holding a grudge is a cyclical process characterized by persistent negative affect and intrusive thoughts that interfere with one's quality of life. Over time the intensity of these thoughts and emotions abates, leaving individuals in a state of passive acceptance, in which the negativity is lurking in the back of their minds waiting to be summoned when needed. Based on the results, we define holding a grudge as sustained feelings of hurt and anger that dissipate over time but are easily reignited.