The 40-year-old sank five birdies, including two in the final three holes.
That put him behind only American duo Shawn Stefani and Tom Hoge, and Korean Seung-yul Noh.
Miguel Angel Carballo, Brian Gay, Colt Knost, Dustin Johnson and Steve Stricker matched Donaldson, with Retief Goosen among those a further shot back.
This is the final PGA Tour event before the US Open - the second major of the year - takes place at Oakmont next week.
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The Environment Department published its Island Development Plan setting out planning policy for the island.
It took three years to produce and includes proposals for increasing the amount of affordable housing and the regeneration of old vinery sites.
Environment Minister Deputy Yvonne Burford claimed the plan balances the improving the economy with environment.
If approved by the States, housing developers building five or more units would be required to make up to 30% available as affordable accommodation.
Before the draft Island Development Plan is adopted by the States it will be subject to independent review by two planning inspectors.

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Ethiopian great Kenenisa Bekele, who won last year's Berlin Marathon in the second-quickest time ever, heads the men's elite field along with Kenya's Stanley Biwott.
In the women's race, Great Britain's Jo Pavey will have qualification for this year's world championships in her sights as part of a strong field.
Six-time Paralympic gold medallist David Weir has said he will retire after the men's elite wheelchair race.
BBC One will have comprehensive coverage from 08:30 BST on race day, with BBC Red Button viewers able to watch the elite races from start to finish.
Fans can also watch the amateur runners complete the 26.2 mile course with a special Finish Line stream, available via Connected TV and on the BBC Sport website.
You can also follow text updates from 08:30 to 16:00 on the BBC Sport website, plus live radio commentary on BBC Radio 5 live.
Saturday, 22 April
13:15-13:45, Marathon Preview, BBC One
Sunday, 23 April
07:50-08:50, Marathon Preview, BBC Red Button (repeat)
08:00-14:00, BBC Radio 5 live sports extra (simulcast of BBC London's coverage)
08:30-14:30, BBC One
08:50-12:30, Elite Races, BBC Red Button and online
12:30-16:00, Finish Line, Connected TV and online
18:00-19:00, Highlights, BBC Two
*All times listed are BST. Fixtures and event start times are subject to change. The BBC is not responsible for any changes. Also, coverage on BBC Red Button can be subject to late schedule changes, so details may differ from this page.
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National and regional variations have been included in this list where possible. Please check your local listings for more detailed information.
You can view all our TV and Red Button broadcasts as well as listen to our radio sports programming on the BBC iPlayer.
Welshman Jamie Donaldson shot a four-under-par 66 to sit one behind the leaders after the first round of the St Jude Classic at TPC Southwind.
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Housing developers could be made to make 30% of a development affordable housing under new government plans.
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On Sunday, 23 April, the world's best elite runners as well as keen amateurs take on one of the most iconic races - the London Marathon.