What do you think? Holt's character developes more than Jake does in the last half of the movie. He sheds a tear at his departure from Jake, and then rides off in the end like the hero to find his mama. More than likely he ends up being a cowboy in Texas.
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It is the story of the character development of both Holt and Roedel. Early in the movie, Skeet Ulrich's Jack Bull is the most dominant character. The fact that Ulrich gets top billing in the opening credits helps set up this scenario with Roedel sort of his sidekick and Holt a minor character who means little to either of them.
As the story progresses, circumstances throw Holt and Roedel together and a bond forms. It is done very naturally and never seems forced. In the second half of the film, Holt comes out from under the shadow of George Clyde at the same time Roedel emerges from the shadow of Jack Bull. This enables both of them to evolve into strong, independent characters while their friendship and respect for one another grows.
Ultimately, Roedel takes upon himself the responsibility for a family and Holt determines to make his own way through life searching for his mother. The decisions each of them make at that point are equally impressive and show how far both have come since the story began. So I think in the end it is the story of both men's character development.