This review provides an update on what we have learned, and puts forth an agenda for the next five years. A key lesson was the need for a global community effort in psychiatric genetics because the required samples sizes are far beyond the reach of any single group. To enable these studies, in 2007 we formed the PGC (https://pgc.unc.edu). Our overarching goal is to deliver actionable knowledge, i.e., genetic findings whose biological implications can be used to improve diagnosis, develop rational therapeutics, and craft mechanistic approaches to primary prevention.