[All]: The numerous kenning elements appear to form three kennings. The first kenning (l. 1), based on rýrir ‘diminisher’ and the third (ll. 2, 4), based on Hermóðr, appear to refer to the same person, but there is disagreement about the place of the second (l. 3), based on glaðsendir ‘cheerful sender’. In the construal shown above (adopted in SnE 1848-87, I, 406-7, III, 70-1 and Skj B), the kenning in l. 3 forms an apostrophe. The main alternatives are that it stands in apposition to the warrior-kenning based on Hermóðr (an option favoured by Faulkes in SnE 1998, I, 190, and apparently by Kock in Skald and NN §§904, 1855) or that it is the subject of sér ‘sees’ (also mentioned by Faulkes). In the latter case, however, the poet would be referring to himself, and doing so in an unusually laudatory way.