Jon Rahm, Scott Brown and Graeme McDowell followed at 66. Two-time Colonial champions Phil Mickelson and Zach Johnson both birdied their last three holes and were among six players with rounds of 67.
Defending champion Jordan Spieth, coming off consecutive missed cuts, was tied for 34th after an even-par 70 with six birdies, four bogeys and a double bogey.
Only 33 of the 121 players finished under par.
Kraft and McDowell had the only bogey-free rounds. Brown had the lead outright at 6 under before a double bogey on his last hole.
