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Bilbo Baggins, the protagonist of "The Hobbit" trilogy, was portrayed by Ian Holm. Holm's portrayal captured the character's initial reluctance to embark on an adventure, his gradual transformation into a courageous and resourceful hobbit, and his enduring friendship with the dwarves. Holm's performance brought depth and nuance to the beloved character, making him an integral part of the trilogy's success.