Maui, HI (SportsNetwork.com) - Russell Henley was joined atop the leaderboard on Saturday by defending champion Zach Johnson and two others after two rounds of the Hyundai Tournament of Champions.

Henley, who led after the first round, posted a 3-under 70 to end 36 holes at 11-under-par 135. He stands alongside Johnson (67), Jimmy Walker (68) and San- Moon Bae (69).

The last three winners of this event have had at least a piece of the lead after 36 holes.

Charley Hoffman and Hideki Matsuyama both fired 7-under 66s. They jumped into a share of fifth place at minus-10. They were joined there by Brendon Todd (67), Patrick Reed (69) and Robert Streb (69).

Scott Stallings fell out of a tie for the lead as he bogeyed the final two holes for a 3-under 70. He is alone in 10th place at 9-under-par 137 on the Plantation Course at Kapalua Resort.

Matt Kuchar (70) is one stroke further back at minus-8.

Henley led by one entering the round, but fell back as he bogeyed the second. He atoned for that mistake with a 2-putt birdie on the par-5 fifth. He was two off the lead at that point and dipped three back as he parred the last four holes of the front nine.

The Honda Classic winner started his comeback with a 14-foot birdie putt at the 10th. Henley birdied the 13th from just outside 10 feet and he moved into a share of the lead with a 2-putt birdie on the par-5 15th. Henley capped his round with three pars in a row.

"I feel like there is a lot of chances at birdie out there. If you hit two good shots on any par-4, you know you can make a birdie if you hit it in the right spots," Henley stated. "I think just the fact that that's the case out here, and it is soft enough that you can kind of attack it, everybody is able to make a decent amount of birdies. Also, the guys at the top have been playing well. I'm not sure what is going to separate everybody at the end, but the weather hasn't been what I thought it was going to be."

Johnson dropped in back-to-back birdies at four and five. He traded a bogey for a birdie from the eighth en route to making the turn at minus-7.

The former Masters champion birdied the 10th and followed with a 27-foot birdie putt on No. 11. After a trio of pars, Johnson converted a 4-footer for birdie at 15.

Johnson also birdied the last to end at 11-under. He was one back when he finished, but after he ended his round, Walker made bogey to slip to minus-11.

"Early on, it was pretty benign and you had to take advantage of it. Saying that, clearly (the conditions) could be more severe," said Johnson, who also won the Sony Open in Hawaii in 2009. "When it comes to execution with wind and trajectory control, they're both (Kapalua and Waialae) very similar. I like that kind of golf, that's kind of what I grew up playing."

Walker and Bae shared the lead for most of the round. Walker birdied the third and fourth, both from inside six feet. He made it three in a row with a 2-putt birdie at the fifth.

That burst gave Walker a 2-shot lead at minus-9. He parred three straight from the sixth before sinking a 6-foot birdie chance on the ninth. Walker and Bae were tied at that point, but Walker moved back ahead with a short birdie at the 10th.

Walker 2-putted for birdie at 15 to move to 12-under, where he led Stallings and Bae by one. However, Walker missed the green at 17 and failed to save par. That was his first bogey of the week. He parred the last to end at minus-11.

Bae poured in three consecutive birdie chances from the fourth to jump to minus-10. That spurt gave him a 1-shot lead over Walker, Hoffman and Stallings. Bae parred the final three holes of the opening nine.

Around the turn, Bae rolled in a 19-foot birdie chance at the 10th. That moved him into a share of the lead with Walker at 11-under. Bae parred the final eight holes to end there.

NOTES: Three of the four leaders have won in Hawaii - Johnson (2014 Hyundai Tournament of Champions, 2009 Sony Open), Walker (2014 Sony Open) and Henley (2013 Sony Open) ... If Johnson wins this tournament for the second straight year, he would be the first repeat winner of this event since Geoff Ogilvy 2009-10 ... Streb is the only player with no bogeys through 36 holes.