Wera’s Rapidaptor universal 1/4″ hex bit holder might just be the best such bit holder that I’ve ever come across. The Rapidaptor securely holds insert and power bits without any wobble at all, is self-locking, and features an easy-change unlocking mechanism.
A common complaint about ordinary bit holders is that there is always a degree of slop that causes the bits to shift within the holders. Thankfully, this is not the case with the rock-solid Rapidaptor – it almost feels as if inserted bits and the holder are of a single construction!
Rapidaptors are available from industrial suppliers in various sizes with or without magnets. The one I have been using is the 889/4/1 K universal holder that is available for $11.66 from Amazon, and thus far it’s the best bit holder I’ve ever used.