diff --git a/portfolios.yml b/portfolios.yml
new file mode 100644
index 0000000..c956df9
--- /dev/null
+++ b/portfolios.yml
@@ -0,0 +1,10 @@
+# Config LIVE del paper trader a portafoglio. Seleziona UN portafoglio attivo
+# (definito in scripts/portfolios/_defs.py) e ne fa l'override dei parametri operativi.
+active: PORT06            # default raccomandato: master + shape
+overrides:
+  total_capital: 1000
+  weighting: cap          # equal | cap | inverse_vol | cluster_rp | manual
+  caps: {PAIRS: 0.33}
+  leverage: 2             # sobrio per il live reale
+  rebalance: 1D
+  poll_seconds: 60
diff --git a/src/portfolio/base.py b/src/portfolio/base.py
index 892e887..8e0a0e8 100644
--- a/src/portfolio/base.py
+++ b/src/portfolio/base.py
@@ -77,3 +77,18 @@ class Portfolio:
         risk = {sid: float(rc[k] / pv * 100) if pv > 0 else 0.0
                 for k, sid in enumerate(self.sleeve_ids)}
         return PortfolioResult(self.code, w, full, oos, yearly_returns(port_dr), risk)
+
+
+def load_active_portfolio(config_path) -> "Portfolio":
+    """Carica il portafoglio attivo da portfolios.yml applicando gli override."""
+    import yaml
+    from pathlib import Path
+    from scripts.portfolios._defs import PORTFOLIOS
+
+    cfg = yaml.safe_load(Path(config_path).read_text())
+    p = PORTFOLIOS[cfg["active"]]
+    ov = cfg.get("overrides", {})
+    for k in ("total_capital", "weighting", "caps", "leverage", "rebalance", "vol_lookback"):
+        if k in ov and ov[k] is not None:
+            setattr(p, k, ov[k])
+    return p
diff --git a/tests/portfolio/test_config.py b/tests/portfolio/test_config.py
new file mode 100644
index 0000000..da3de5c
--- /dev/null
+++ b/tests/portfolio/test_config.py
@@ -0,0 +1,10 @@
+from src.portfolio.base import load_active_portfolio
+
+
+def test_load_active_applies_overrides(tmp_path):
+    cfg = tmp_path / "portfolios.yml"
+    cfg.write_text("active: PORT06\noverrides:\n  leverage: 2\n  total_capital: 500\n")
+    p = load_active_portfolio(cfg)
+    assert p.code == "PORT06"
+    assert p.leverage == 2.0
+    assert p.total_capital == 500