Follow these steps to delete a portfolio:
Click the portfolio selector in the center of the Portfolio Editor’s navigation bar.
Choose Manage Portfolios.
You’ll be redirected to the Portfolio Manager.
Hover over an existing portfolio’s thumbnail.
Click Options in the thumbnails top-right corner.
Choose Delete Portfolio.
If you have only one portfolio, you won’t be able to delete it. Also, you cannot delete a default portfolio. To change your default portfolio, follow these steps in the Portfolio Manager:
Hover over an existing portfolio’s thumbnail.
Click Options in the thumbnails top-right corner.
Choose Set as Default Portfolio.