Open Manage | Database | Relationships and specify a sort order in the relationship that will sort your records so that the "most recent" record is the first related record. Then remove the portal, but keep the fields you currently have in the portal. When you have multiple related records and you add a field from the related table, the "first" related record supplies the data you see in the fields.
You are not limited to a "table like" view inside your portal. You can resize the portal row such that your single row is now a miniature "form" with fields and layout text arranged within it to suit your preferences.
I didn't realize that there was an option to sort when creating a relationship. That is exactly what I was looking for.