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One day after shooting a 9-under par 63 to pull within two shots of Holmes, Mickelson couldn’t get any momentum going early in his round and finished with a 4-over 76 and out of the top 10.
"I had two great rounds and two pathetic rounds," Mickelson said.
Mickelson plans to spend the early part of this week working with his coach on putting in preparation for The Players Championship.
Rory McIlroy, who shot 65 on Saturday, finished tied for eighth at 8-under after a 69 on Sunday, but was never in contention.
McIlroy has five top-10 finishes this year but no victories.
"I’m in the top 10 every week and it is fine, it’s whatever. But it’s not wins," McIlroy said after shooting a 2-under 70 to finish six shots behind Holmes.
The 32-year-old Holmes, one of the longest hitters on the PGA Tour, secured a spot in the PGA Championship this summer in his native Kentucky and earned full exemption on the PGA Tour through the 2015-16 season.
"It’s been a long journey for me," Holmes said. "I’ve had some ups and downs. It’s a great feeling to be out there and to get one done."
AP Golf Writer Doug Ferguson contributed to this report.
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