The cat is to the point where he generally doesn't like being held anymore. The reason is that he feels trapped when he can't move as he pleases. Though he can tolerate a holding with nothing more than a sporadic growl when alone, if the dog comes nearby he becomes unruly. If the dog jumps at him, he turns from unruly to completely violent...both toward the dog and the holder.
Here's a video demonstrating this. It's tough to hear, but the cat is constantly growling, meowing and hissing. Along with that, each time the cat swings and connects with the dog (which is most of his swings), the echo of the thump on his snout is very loud. Nonetheless, the dog is undeterred. He simply must jump at the cat. It's as if he was put on the Earth for the sole purpose of doing just that.