Lét * lǫnd lokit
liðs gramr saman
marbe*ðjum með
mǫrg nefbjǫrgum,
þars garðr fyr gnóð
grôum hjǫlmum lá
þornheims þrimu
Þundi at *undri.
Gramr liðs lét * mǫrg lǫnd með marbe*ðjum lokit saman nefbjǫrgum, þars garðr grôum hjǫlmum lá fyr gnóð at *undri þrimu þornheims Þundi.
The lord of the army [Knútr] had many lands along the sea-coasts enclosed together by nose-guards, where a wall of grey helmets lay before the ship to the wonder of the Þundr <= Óðinn> of the home of the thorn of battle [(lit. ‘thorn-home of battle’) SWORD > SHIELD > WARRIOR = Óláfr].
[2] liðs: lið 972ˣ
[2] liðs ‘of the army’: Skj B suggests liðs qualifies nefbjǫrgum rather than gramr, hence ‘by the army’s nose-guards’; this is queried by Kock (NN §873).