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Despite a double-bogey on his 14th hole, reigning FedExCup champion Bill Haas carded a nine-under 63 on the North Course and is alone in third.
John Huh posted a 64 and was joined in fourth place by Rod Pampling, Josh Teater and Vijay Singh. All four played the North Course. Huh matched a PGA Tour record with three eagles in his round.
Holmes is competing for the first time since brain surgery last year. He had four bogeys in a round of four-over 76.
Levin started with a birdie on the first, but his next birdie didn't come until the par-four seventh. After a par at the eighth, he birdied eight of the last 10 holes.
Levin caught fire from there, At the 13th, he left himself three feet for birdie. On each of the next three holes, he made birdie putts of eight feet on each hole to grab a share of the lead at minus-nine.
"It feels great. I drove the ball well today. The first couple weeks I played decent," said Levin, who tied for 23rd and 64th in his first two starts. "In those two tournaments, I didn't drive it particularly good. I drove it well today and kind of set me up because I've been putting pretty good. I had some putts for birdies instead of pars today and kind of added up to a good score."
Stanley birdied the 17th to move within two of Levin. He erased that deficit and grabbed a piece of the lead with a three-foot eagle putt at the 18th.
"It was good. I know it was a 62, but it was a pretty boring round of golf," said an understated Stanley. "Hit a lot of greens and made a lot of putts."
Denmark's Thorbjorn Olesen fired a five-under 67 to move into the lead. He finished two rounds at seven-under-par 137 at Abu Dhabi Golf Club.
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