Indexable Spade Drill Bit Holders Durable steel indexable spade drill bit holders in a black finish. This set includes two holders of different sizes. The larger holder is approximately 12 inches in length with a 2-inch diameter shank. The smaller holder is approximately 10 inches in length with a 1.5-inch diameter shank. Both tools have carbide inserts attached at the tips and show signs of surface oxidation.