怀着 + emotion/attitude, followed by an action: 怀着激动的心情 (with excited feelings), 怀着梦想 (carrying a dream), 怀着敬意 (with respect). It sets the emotional backdrop for the main verb.
register
怀着 is literary and formal. In casual speech, people more often say 带着 (dàizhe, carrying/with). 怀着 sounds more poetic and is common in written narrative and speeches.
