Undermind is Phish's final studio album, released on June 15, 2004. Phish worked with producer Tchad Blake (Tom Waits, Los Lobos, Soul Coughing, Peter Gabriel) on the album, their first time with a producer since 1998's Story of the Ghost . The album received generally good reviews and charted at no 13 on the Billboard 200.

The track listing is:

1. "Scents and Subtle Sounds (Intro.)"
2. "Undermind"
3. "The Connection"
4. "A Song I Heard the Ocean Sing"
5. "Army of One"
6. "Crowd Control"
7. "Maggie's Revenge"
8. "Nothing"
9. "Two Versions of Me"
10. "Access Me"
11. "Scents and Subtle Sounds"
12. "Tomorrow's Song"
13. "Secret Smile"
14. "Grind"

Around half of these songs had never been played live before the album was released. Phish's last show was in Coventry, Vermont on 14 and 15 August, 2004. Coventry was a weekend-long festival at which Phish played three sets of music on two nights.