Vegmildr víðrar foldar
vǫrðr þá fóstr í Gǫrðum;
vellbjóðr vísar dáðir
vann, sás hæst gekk manna.
Blikrunnr brigða miklum
brátt réð * þeim, es átti,
allprútt éla Þróttar
Óláfr skipa stóli.
Vegmildr vǫrðr víðrar foldar þá fóstr í Gǫrðum; vellbjóðr, sás gekk hæst manna, vann vísar dáðir. Þróttar éla blikrunnr, Óláfr, réð * brátt, allprútt, þeim brigða miklum stóli skipa, es átti.
The honour-generous guardian of vast territory [RULER = Óláfr] was fostered in Russia; the gold-offerer [GENEROUS MAN], who was the greatest of men, performed renowned deeds. The tree of the gleam of the storms of Þróttr <= Óðinn> [(lit. ‘gleam-tree of the storms of Þróttr’) BATTLES > SWORD > WARRIOR], Óláfr, soon commanded most excellently the extremely large fleet of ships which he owned.
[4] hæst: ‘hærst’ 61, hæstr 53, 54, Bb(16ra)
[4] gekk hæst ‘was greatest’: Lit. ‘went highest’: The ÓT reading adj. hæstr (adopted in Skj B, LP: 2. ganga 13 and Skald) is less convincing than adv. hæst in conjunction with gekk, lit. ‘went’.