SmartList is an essential aspect of Dynamics GP, and not being able to resize the SmartList Favourites pane can be a bit of an annoyance. Especially on larger monitors the list of favourites will be too big; restricting the number of columns you can see without having to scroll or if you have custom built SmartLists with really long names, the full name of the favourite might not always be visible.
To get round this we would have to customise the window, however in GP2013R2, the ability to resize this pane comes built in. You can right click in an empty white space anywhere in the list pane and increase/decrease the width of the pane.
Alternatively, you can also access this option by clicking on SmartList>> Favourites Pane>> Hide/Show favourite pane.
I’d also generally untick Enable Auto-hide so the pane stays open after selecting a favourite, but this is just a personal preference.