An automated storage and retrieval system comprising: - a track system comprising a first set of parallel tracks arranged in a horizontal plane and extending in a first direction, and a second set of parallel tracks arranged in the horizontal plane and extending in a second direction which is orthogonal to the first direction, which first and second sets of tracks (110, 111) form a grid pattern in the horizontal plane comprising a plurality of adjacent grid cells, each comprising a grid opening defined by a pair of neighboring tracks (110a, 110b) of the first set of tracks and a pair of neighboring tracks (111a, 111b) of the second set of tracks; - a plurality of stacks of storage containers arranged in storage columns located beneath the track system, wherein each storage column is located vertically below a grid opening; - a vehicle for lifting and moving storage containers stacked in the stacks, each vehicle being configured to move on the track system above the storage columns, each vehicle comprising a vehicle body and a wheel assembly connected to the vehicle body, the wheel assembly being configured to guide the vehicle along the track system in at least one of the first direction and the second direction, wherein the vehicle further comprises a container picking device for releasably attaching to a storage container characterized in that the picking device comprising a pivot arm comprising a first end pivotally connected to the vehicle body at a pivot point, wherein the container picking device, by means of a pivoting motion of the pivot arm about the pivot point, is movable between: - a first, lifting position enabling the container picking device to lift at least one storage container from a position beyond the horizontal extent of the vehicle body; and - a second, transport position enabling the container picking device to hold the at least one storage container at least partly inside the horizontal extent of the vehicle body. - a track system comprising a first set of parallel tracks arranged in a horizontal plane and extending in a first direction, and a second set of parallel tracks arranged in the horizontal plane and extending in a second direction which is orthogonal to the first direction, which first and second sets of tracks (110, 111) form a grid pattern in the horizontal plane comprising a plurality of adjacent grid cells, each comprising a grid opening defined by a pair of neighboring tracks (110a, 110b) of the first set of tracks and a pair of neighboring tracks (111a, 111b) of the second set of tracks; - a plurality of stacks of storage containers arranged in storage columns located beneath the track system, wherein each storage column is located vertically below a grid opening; - a vehicle for lifting and moving storage containers stacked in the stacks, each vehicle being configured to move on the track system above the storage columns, each vehicle comprising a vehicle body and a wheel assembly connected to the vehicle body, the wheel assembly being configured to guide the vehicle along the track system in at least one of the first direction and the second direction, wherein the vehicle further comprises a container picking device for releasably attaching to a storage container each vehicle being configured to move on the track system above the storage columns, each vehicle comprising a vehicle body and a wheel assembly connected to the vehicle body, the wheel assembly being configured to guide the vehicle along the track system in at least one of the first direction and the second direction, a vehicle body and a wheel assembly connected to the vehicle body, the wheel assembly being configured to guide the vehicle along the track system in at least one of the first direction and the second direction, wherein the vehicle further comprises a container picking device for releasably attaching to a storage container - a first, lifting position enabling the container picking device to lift at least one storage container from a position beyond the horizontal extent of the vehicle body; and - a second, transport position enabling the container picking device to hold the at least one storage container at least partly inside the horizontal extent of the vehicle body.