The second night of Phish’s 2025 New Year’s run at Madison Square Garden in New York City was a masterclass in pacing, improvisation, and surprise. Following the energetic opener on December 28, the band dialed in with a setlist blending fan favorites, potent jams, and a rare encore that lit up the crowd. For a group known as much for their spontaneity as their musicianship, this night was a vivid reminder that Phish can turn any evening into a multifaceted journey.
SET ONE: Energy, Transitions, and Emotional Highs
The evening kicked off with “Sample in a Jar,” a warm and familiar tune that set a playful but deliberate tone. Trey’s guitar was crisp, and the band moved through the song with tight precision, warming up the crowd and setting the stage for what was to come.
That “warm-up” was short-lived, as the group immediately plunged into “AC/DC Bag.” Delivered with precision, the song’s angular riffs and dynamic shifts showcased Phish’s ability to traverse complex arrangements while maintaining emotional impact. Trey and Mike led the charge, weaving intricate textures as the band morphed into “The Moma Dance” with fluid ease.
“The Moma Dance” itself was lively and playful, opening the door to one of the night’s standout sequences. The segue into “Rift” was seamless, and the band treated this rarely played gem with reverence and power. The jam within “Rift” was focused, with Trey exploring subtle melodic turns while Page’s keys created rich sonic landscapes.
As the energy mounted, “Prince Caspian” followed, further building momentum. The band stretched into the jam with confident interplay, and Fishman’s drumming locked the band into a tight groove that kept the dance floor moving.
“Monsters” brought a darker, more menacing tone, a favorite among fans for its cryptic lyrics and hypnotic repetition. Trey’s vocals carried an edge, while the band emphasized the song’s rhythmic tension, creating a powerful mood shift.
“Runaway Jim” came next, taking the crowd on a lively and joyous ride. The jam was expansive and playful, with Mike’s bass lines driving the momentum while Trey took the lead with engaging melodic runs.
The first set closed with one of Phish’s signature moments: “You Enjoy Myself.” The band delivered an epic version, navigating through composed sections and improvisational peaks with ease. The classic vocal jam was vibrant and full of energy, with the crowd joining in enthusiastically. As the jam faded, instead of ending, the band fluidly transitioned into “Ghost,” turning the conclusion of the set into an atmospheric exploration. The “Ghost” jam was spacious and textured, emphasizing subtle dynamics over outright fireworks.
SET TWO: Deep Grooves and Intensity
The second set began with “Bathtub Gin,” but the jam remained unfinished, hinting at a planned but aborted exploratory section. Despite this, the band moved forward with confidence into “Ruby Waves.” Trey teased the iconic “Frankie Says” chant during this performance, a playful nod to pop culture that the crowd appreciated.
“Waste” followed, delivering one of the night’s more delicate moments. The song’s melancholy melody contrasted beautifully with the energy surrounding it, allowing a brief emotional reset before the momentum picked up again.
The transition into “Fuego” brought the intensity back, with fiery solos and tight band interplay. Trey’s guitar work here was dynamic and confident, weaving through complex rhythmic patterns as the band maintained a driving pulse.
The set concluded with “Crosseyed and Painless,” a nod to Talking Heads that closed the night on a funk-infused, rhythmically complex note. The band’s tight grooves and syncopated rhythms turned the song into a dance party, sending the crowd into a frenzy.
Encore: A Rare and Reverent “Bold As Love”
For the encore, Phish surprised the crowd by performing “Bold As Love,” a Jimi Hendrix cover, for the first time since September 4, 2021—marking 149 shows since its last outing. The performance was soulful and powerful, a fitting tribute to Hendrix and a rare gem in the band’s extensive live catalog.
A Night of Balance and Surprise
The December 29th show at MSG was an expertly crafted mix of familiar Phish staples and unexpected delights. The band balanced tight, composed songs with open-ended jams and threw in rare covers to keep fans on their toes.
Highlights included the fluid transition from “You Enjoy Myself” into “Ghost,” the playful tease in “Ruby Waves,” and the potent closing funk of “Crosseyed and Painless.” The unfinished “Bathtub Gin” added a layer of unpredictability, while the encore’s “Bold As Love” served as a soulful punctuation mark on a night full of high-energy moments and musical depth.
Phish’s ability to maintain momentum across two sets at such a storied venue is a testament to their enduring chemistry and creative spirit. Fans left Madison Square Garden buzzing, eager for what the rest of the run would bring.
Setlist: December 29, 2025 – Madison Square Garden
Set 1: Sample in a Jar, AC/DC Bag > The Moma Dance > Rift > Prince Caspian, Monsters, Runaway Jim, You Enjoy Myself -> Ghost
Set 2: Bathtub Gin (unfinished) > Ruby Waves, Waste > Fuego > Crosseyed and Painless
Encore: Bold As Love