Perry is at 18-under 126, three shots ahead of first-round leader and Augusta native Larry Mize. Tom Lehman is four back, and defending champion Bernhard Langer is another stroke back at 13-under at TwinEagles Club.
Perry made five birdies on the front, and six more on the back with a bogey on No. 15. He bounced back from that with birdies on the last three.
Mize and Lehman were tied for second most of the day, then Mize birdied No. 18 to move into sole possession of second.
Langer set the tournament scoring record last year at 20-under.