In this paper, I analyze one of the most controversial issue in the foundations of General Relativity: the Hole Argument. After introducing the mathematical tools required to understand its technical content, I first present the argument in its historical context. I then discuss four general categories of responses, depending on different realist positions about space-time. Finally, I advance my own interpretation by proposing three general approaches to the ontology of physical theories. I argue that understanding their interplay, together with a certain literal reading of the formalism of General Relativity, may open up a variety of new ways to approach the issue.
