2026 Charles Schwab Challenge leaderboard: Eric Cole takes lead with sensational 63 in Round 3 at Colonial

After two days of ideal scoring conditions, Colonial Country Club punched back on Saturday as players were greeted with a more traditional test at the classic Texas course for the third round of the Charles Schwab Challenge. The sun came out in Fort Worth and baked things out in 92 degree heat which, coupled with a bit more wind, created the kind of firm, fast golf course we are accustomed to at Colonial.

The result was a difficult Moving Day for those who teed off late and allowed the player who tamed the course best to surge 24 spots up the leaderboard into solo first. That man was Eric Cole, who fired a 7-under 63 that was the best round of the day by two shots — and four strokes better than the next best — to post 12 under in the clubhouse on Saturday afternoon.

Cole had it all working on Saturday, doing most of his damage with the best iron play of the day as he picked up more than 4.2 strokes on the field with his approach game.

Cole made seven birdies in his round as he went bogey-free around Colonial, which was no small feat on a course that presented a much stiffer test compared to the first two days. On the rare occasion Cole didn’t find a green, his short game was more than up to the task of bailing him out, including a chip-in birdie on the 16th that gave him the solo lead.

Cole is one of the PGA Tour’s real grinders, playing in a ton of events and even playing some local tournaments back home in his off weeks. He’s found some good form of late with T6 finishes at both the Zurich Classic and the Myrtle Beach Classic, but is still searching for his first career victory on the PGA Tour.

He will not have a better opportunity to grab that first win than on Sunday when he carries a two-shot lead into the final round at Colonial. The challenge for Cole is backing up his 63 where he could play freely after starting the day five shots off the lead. On Sunday, he’ll be in a much different position and will have to balance the desire to remain aggressive with the understanding that he has to be smart. If he can handle that to hold off a leaderboard with a number of PGA Tour winners close behind, he’ll get that career-changing win he desperately craves.

Sunday contenders

2. Ryan Gerard (-11)
T3. J.J. Spaun, Mac Meissner (-10)
T5. Hideki Matsuyama, Russell Henley, Alex Smalley (-9)
T8. Nico Echavarria, Mackenzie Hughes, Michael Brennan, Michael Thorbjornsen (-8)
T12. Justin Thomas, Ludvig Åberg, Gary Woodland, Akshay Bhatia, Brian Harman, Doug Ghim and Christiaan Bezuidenhout (-7)

Gerard birdied the last to trim Cole’s lead to one, take second alone and get into the final grouping on Sunday. It was a strong finish to a steady round of golf from the former UNC star who was a trendy pick coming into the year as a potential breakout star. That hasn’t quite materialized through the first half of the season, but a quality effort on Sunday could give him a second career win on the PGA Tour and affirm his place as one of the game’s rising stars.

Spaun is the only player in the top 10 with a win this season and will hope another steady round is enough to double up on trophies in 2026. He had an up-and-down round as he charged into a share of the lead early but rode a rollercoaster to a 68 the rest of the way in — with a peak coming on the 15th when he got a bounce-back birdie from the bunker.

Meissner was red-hot early and backed up a touch late, but his 67 puts him in the mix on Sunday yet again as he’s also got two top 10s in his last three starts.

The group at T5 all found themselves stuck in first gear on Saturday, with Smalley and Henley shooting 69s and Matsuyama managing just one birdie and one bogey in a round of 70. It was the kind of day that’s been all-too-familiar in Matsuyama’s career, where the ball-striking was elite but the putter just wouldn’t cooperate. Henley’s day was much more adventurous, with a double bogey on the 13th after a wild miss off the tee derailing an otherwise terrific round. Even so, by simply not ejecting, as we saw from 36-hole leader Jordan Smith with a Saturday 74, they are all still one great round on Sunday away from hoisting a trophy.

There are some really interesting names at 7 under and tied for 12th, but if one of them is going to get the win they’ll need something spectacular on Sunday. Thomas is the biggest stunner of the group as he got off to a dreadful start with two early bogeys in his first three holes, but turned things around in a big way to shoot 67 and give himself at least a chance with a great final round. Ludvig Åberg likewise stumbled early but a birdie on the 18th capped off a strong battle from him to shoot 69 and keep the door open just a touch for his first win of the season if he can catch fire on Sunday and post a number for the leaders to stare at.

Updated 2026 Charles Schwab Challenge odds, picks

Odds via DraftKings Sportsbook

• Eric Cole (+270)
• Ryan Gerard (+400)
• J.J. Spaun (+600)
• Mac Meissner (+770)
• Russell Henley (+1000)
• Alex Smalley (+1250)
• Hideki Matsuyama (+1250)

Colonial has a history of creating comeback winners, so there is a chance to find some value heading into Sunday, especially with the inexperience at the top. There’s just so much on the line and if conditions are as challenging as they were late on Saturday, it’s hard to want to invest in any of the potential first-time winners at the top of the leaderboard.

Matsuyama was my pick after the second round and I’m going to stick with my guy going into Sunday just three back. It’s always a bit terrifying taking Matsuyama because there’s no guarantee the putter warms up, but his ball-striking is so consistent that if he gets anything to fall, I trust his game to hold up the best on Sunday. I also think Spaun at 6-1 has some solid value just two off the pace and playing some really good golf of late.