Saved lists are like groups in that you can search, re-arrange path lists, and filter reports by them. But there’s one key difference: a path can belong to more than one list. This is so that you have flexibility when assembling paths that have multiple attributes in common. Navigate to settings > Manage Saved Lists.

Static list
Static lists contains paths that you explicitly include, so they can only be updated manually.
Smart list
Smart lists dynamically populate based on path attributes that you select such as group or target type. Smart lists are powerful because you can build notifications and reports from them, and those notifications and reports will automatically include any new paths that meet the list criteria.