You have two options when sorting your contact lists. Lists can be sorted by name and by the date they were created.
Select Name at the top of your lists to sort them in alphabetical order or reverse alphabetical order. When the arrow next to Name is pointing up, your lists will be sorted A-Z. When it is down, they will go from Z-A.
Clicking Created at the top of your lists will change how the lists are sorted (either from newest to oldest, or the other way around).
When the arrow next to Created is down, lists are sorted newest to oldest. When it is pointing up, you’ll see your oldest list at the top and your newest at the end.