Reed, who got into the tournament thanks to his play in a Monday qualifier, shot 6-under-par 66. He is tied with Rickie Fowler, John Senden, Brian Davis and D.A. Points.
Reed scorched Quail Hollow’s front nine with four birdies, and he added two more on the back nine.
The former Jaguar is playing in his third consecutive PGA Tour event. He made the cut in the Valero Texas Open and the Zurich Classic in New Orleans.