Why can't an Administrator account see all dashboards by default in Custom UI?

I have been using the default Admin account in the Custom UI to create dashboards.  Consequently,  I see all of the dashboards.  However,   I associated my AD account to the Admin Group in the Custom UI and it does not see all of the dashboards,  only ones that have been explicitly shared with it.

Is this expected behavior?

Thanks,

-MattG