In the ESV version of the Bible the word "pursue" is used in regard to Paul's instructions on how to battle greed and other sin. According to the dictionary, the word "pursue" means to "follow close after, to strive to gain, to chase after." Chase after what? Six different words are used: chase after righteousness, godliness, faith, love, steadfastness, and gentleness. Jesus said in Matthew 6:33, "But seek first the kingdom of God and his righteousness and all these things will be added to you." In 1 Corinthians 1:30 we learn to understand that Christ is our righteousness. So what is this saying right from the start--pursue, chase after Jesus and in doing do you will add these things to your walk with Him.
Verse 12 tells Timothy (and us) to fight the good fight of faith. There are so many distractions in this world that could side track your faith, bring doubts and other questions into your heart and mind. Yet, the reality is that if you seek the Lord, the Spirit of God will direct your heart into those things that bring peace, wisdom and direction in your life.
This portion of Scripture ends with a beautiful benediction: "he who is the blessed and only Sovereign, the KIng of kings and Lord of lords, who alone has immortality, who dwells in unapproachable light, whom no one has ever seen or can see. TO HIM BE HONOR AND ETERNAL DOMINION. AMEN."
Keep your eyes on Jesus and all these things will be added unto you!