With fifteen in the clip and one in the hole

from Lupe Fiasco – The Emperor's Soundtrack Lyrics on Rap Genius

Meaning

15 bullets in the clip of the gun and one in the barrel. Also another reference to First and Fifteenth.

Could also be a reference to the Warren G, Nate Dogg-assisted song “Regulate”, although Nate uses the number 16, not 15.

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