Hollostu gefr hæsta
hring-Þrótt með sér dróttinn
saðr, þeims sinna iðrask
synða, lausn ok ynði.
Ern skóp hauðr ok hlýrni
heims valdr sem kyn beima;
ǫrrs ok ǫllu dýrri
élsetrs konungr betri.
Saðr dróttinn gefr hring-Þrótt, þeims iðrask synða sinna, hæsta hollostu, lausn ok ynði með sér. Ern valdr heims skóp hauðr ok hlýrni sem kyn beima; ǫrr konungr élsetrs [e]s ǫllu betri ok dýrri.
The true Lord gives the ring-Þróttr <= Óðinn> [MAN] who repents of his sins the highest faith, absolution and delight with him. The powerful ruler of the world [= God] created earth and heaven as well as the kinsfolk of men [MANKIND]; the generous king of the storm-seat [SKY/HEAVEN > = God] is better and more precious than everything.
[1] hæsta: ‘[...]’ B, ‘ḥẹṣta’ 399a‑bˣ, ‘h(æs)ta’(?) BRydberg, ‘h(e᷎sta)’(?) BFJ
[1] hæsta ‘highest’: There is a hole in the ms. at this point, and nothing is legible, except for a possible ascender to the left of the hole. 399a-bˣ reads ‘hesta’, but indicates uncertainty about the first three letters. Rydberg was certain of the <h> and the final <ta>, and reconstructed to ‘hæsta’. Finnur Jónsson (Skj A) was sure only of the <h>, but accepted Rydberg’s reconstruction, which has been adopted by all subsequent eds.