You have the options to sort by the following:
-Position (the order the Admins have placed assets in)
-Updated (newest to oldest based on last edit made to asset)
-Created By (newest to oldest based on upload order)
As an Owner you can set the "default" sort for your users by following these steps:
1. Click on the "Gear" Icon in the upper right.
2. Select Settings and click the configuration tab.
From there you can select which sorting option you would like to be the default.
For questions or assistance please contact email@example.com.