Race Comment Explainer

Original comment with matches highlighted:

close 3rd inside, ridden and challenging inside final furlong, towards finish, just held

Matched phrases & meanings

Phrase	Meaning
just held	The horse's powerful late run was not quite enough, and it lost the race by the narrowest possible margin (e.g., a nose or short head).
Furlong	Unit of distance; one furlong is 1/8 of a mile (approx. 200 meters).
Ran on	The horse maintained or increased its speed in the final stages.

Summary

The horse's powerful late run was not quite enough, and it lost the race by the narrowest possible margin (e.g., a nose or short head).
Unit of distance; one furlong is 1/8 of a mile (approx. 200 meters).
The horse maintained or increased its speed in the final stages.