Watson shot a 3-under 67 at the TPC-River Highlands course to finish 36 holes in 10-under 130.
Two months after winning the Masters in 2012, Watson finished in a tie for second at this tournament. His only Top 10 finish this year came at the season-opening Tournament of Champions.
Watson suffered only one bogey Friday on a course that played considerably more difficult than it did in the opening round.
Newly crowned U.S. Open champion Justin Rose wound up in a tie for 12th at 135.
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