My plugins list is getting large, I like to be able to create a list/group of my go to plugins so I don't have to scroll through the long vst list to find something. Is there a way to do this?

Use the Cakewalk Plugin Manager (options menu).

As noted above by Sanderxpander one can create custom lists in the plugin manager, where you can arrange your plugs how you want.  Separate lists for FX and Instruments.

Great.  I found this Cakewalk's video while researching this topic:
https://www.youtube.com/watch?v=8TPEiS4HOZc

Just bear in mind that you will have to edit it every single time you install a new plugin in future - they don't get automatically added to your custom layout.

I create a Favorites layout just for this.  One cool "feature" (that I'm not sure isn't a bug) is that you can have two different layouts selected in the Browser versus the popup menu in the track FX bins.  I keep the track menu set to Favorites so that they are quickly accessible and keep the Browser set to show everything so that I can go there to dig down and find non-favorites as needed.  I'm not sure that this isn't a bug because the layouts will randomly revert to match each other without me doing anything to change that.  It happens infrequently enough to not take away from the usefulness.
 
Sadly, SONAR doesn't directly support a favorites, recently used, etc. for plug-ins like many of the other popular DAWs do.  I'm hoping this gets in the Browser update that they've said is coming soon though that has only discussed the content library part of the Browser.  The custom layouts kinda help but get tedious to manage.

A folder with "recently used" would be nice.

There's also MenuMgic:
 
MenuMagic v1.9
TheSteven (Steven)
A full plugin management system to complement and enhance Sonars rather weak plugin Manager.
This is a paid for product. All questions should be directed to the developer)
For more details see this thread. - http://forum.cakewalk.com/FindPost/3325859
 
See http://forum.cakewalk.com/Utilities-for-use-with-Sonar-m3238243.aspx for other utils.