OfficeReports will add the text to a text box:
When adding a text list outside a placeholder OfficeReports will add a placeholder which is sized as big as needed to display the text. If there is an overflow the text will automatically organized in rows, and if that is not sufficient the text will shrink to Autofit.
If you have a placeholder allowing text in focus when adding a text list, the text will be fitted into the placeholder based in the default settings for the placeholder. If we right click the placeholder we can ‘Format Shape’>’Text Box’ and select how the text should be fitted into the text box: