Background Previous research indicates that the content of psychotic symptoms is of significant importance for the individual who experiences them. However, there are limitations concerning the use of self‐report instruments for capturing experiences that are of highly personal nature. The aim of this study was to provide a deeper understanding of how individuals with psychosis make sense of the content of their psychotic symptoms. Method Semi‐structured interviews were conducted with 12 individuals, some of whom were experiencing active symptoms and some of whom had experienced symptoms within the last 12 months. The interviews explored the individuals' understanding of psychotic symptoms in terms of the content and the possible meaning of the content. All participants were patients at a unit specializing in psychosis. The study applied interpretive phenomenological analyses to highlight the subjective understanding of the content of psychotic symptoms. Results Interpersonal experiences were a consistent theme in participants' understanding of the content of their psychotic symptoms. Grandiose content was understood as being related to lack of relationships and helplessness, whereas harassing content was related to experiences of being abused. Commanding content was linked to emotional consequences of intrusive relationships and to distressing life events. Supportive content was viewed as a substitute for real‐life persons. Conclusions These results support previous findings suggesting that the content of psychotic symptoms is related to interpersonal experiences. The study highlights the importance of validating the patient's own knowledge and interpretations of symptoms. Copyright © 2013 John Wiley & Sons, Ltd. Key Practitioner Message All participants related a meaning to the content of their psychotic symptoms. The participants generally linked the content of their symptoms to an absence of relationships or to relationships that were described as abusive or intrusive. Participants who described the symptom content as helpful did not express a wish to be rid of these symptoms. The interpersonal references for explaining symptoms support the use of therapeutic interventions that understand psychotic symptoms as reflections of real‐life experiences and relationships.