@layer properties{@supports (((-webkit-hyphens:none)) and (not (margin-trim:inline))) or ((-moz-orient:inline) and (not (color:rgb(from red r g b)))){*,:before,:after,::backdrop{--tw-rotate-x:initial;--tw-rotate-y:initial;--tw-rotate-z:initial;--tw-skew-x:initial;--tw-skew-y:initial;--tw-border-style:solid;--tw-shadow:0 0 #0000;--tw-shadow-color:initial;--tw-shadow-alpha:100%;--tw-inset-shadow:0 0 #0000;--tw-inset-shadow-color:initial;--tw-inset-shadow-alpha:100%;--tw-ring-color:initial;--tw-ring-shadow:0 0 #0000;--tw-inset-ring-color:initial;--tw-inset-ring-shadow:0 0 #0000;--tw-ring-inset:initial;--tw-ring-offset-width:0px;--tw-ring-offset-color:#fff;--tw-ring-offset-shadow:0 0 #0000;--tw-outline-style:solid;--tw-blur:initial;--tw-brightness:initial;--tw-contrast:initial;--tw-grayscale:initial;--tw-hue-rotate:initial;--tw-invert:initial;--tw-opacity:initial;--tw-saturate:initial;--tw-sepia:initial;--tw-drop-shadow:initial;--tw-drop-shadow-color:initial;--tw-drop-shadow-alpha:100%;--tw-drop-shadow-size:initial;--tw-backdrop-blur:initial;--tw-backdrop-brightness:initial;--tw-backdrop-contrast:initial;--tw-backdrop-grayscale:initial;--tw-backdrop-hue-rotate:initial;--tw-backdrop-invert:initial;--tw-backdrop-opacity:initial;--tw-backdrop-saturate:initial;--tw-backdrop-sepia:initial;--tw-ease:initial}}}@layer theme{:root,:host{--font-sans:ui-sans-serif, system-ui, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji";--font-mono:ui-monospace, SFMono-Regular, Menlo, Monaco, Consolas, "Liberation Mono", "Courier New", monospace;--color-orange-50:#fff7ed;--color-orange-100:#ffedd5;--color-amber-50:#fffbeb;--color-amber-100:#fef3c6;--color-yellow-50:#fefce8;--color-stone-50:#fafaf9;--color-stone-100:#f5f5f4;--color-stone-200:#e7e5e4;--color-white:#fff;--spacing:.25rem;--text-xs:.75rem;--text-xs--line-height:calc(1 / .75);--text-sm:.875rem;--text-sm--line-height:calc(1.25 / .875);--text-base:1rem;--text-base--line-height:calc(1.5 / 1);--text-lg:1.125rem;--text-lg--line-height:calc(1.75 / 1.125);--text-xl:1.25rem;--text-xl--line-height:calc(1.75 / 1.25);--text-2xl:1.5rem;--text-2xl--line-height:calc(2 / 1.5);--text-3xl:1.875rem;--text-3xl--line-height:calc(2.25 / 1.875);--text-4xl:2.25rem;--text-4xl--line-height:calc(2.5 / 2.25);--text-5xl:3rem;--text-5xl--line-height:1;--text-6xl:3.75rem;--text-6xl--line-height:1;--text-7xl:4.5rem;--text-7xl--line-height:1;--text-8xl:6rem;--text-8xl--line-height:1;--text-9xl:8rem;--text-9xl--line-height:1;--font-weight-bold:700;--tracking-widest:.1em;--radius-md:.375rem;--radius-lg:.5rem;--ease-in:cubic-bezier(.4, 0, 1, 1);--ease-out:cubic-bezier(0, 0, .2, 1);--ease-in-out:cubic-bezier(.4, 0, .2, 1);--animate-ping:ping 1s cubic-bezier(0, 0, .2, 1) infinite;--animate-pulse:pulse 2s cubic-bezier(.4, 0, .6, 1) infinite;--animate-bounce:bounce 1s infinite;--default-transition-duration:.15s;--default-transition-timing-function:cubic-bezier(.4, 0, .2, 1);--default-font-family:var(--font-sans);--default-mono-font-family:var(--font-mono)}@supports (color:lab(0% 0 0)){:root,:host{--color-orange-50:lab(97.7008% 1.53735 5.90649);--color-orange-100:lab(94.7127% 3.58394 14.3151);--color-amber-50:lab(98.6252% -.635922 8.42309);--color-amber-100:lab(95.916% -1.21653 23.111);--color-yellow-50:lab(98.6846% -1.79055 9.7766);--color-stone-50:lab(98.2686% -.0991821 .364304);--color-stone-100:lab(96.5286% -.0991821 .364268);--color-stone-200:lab(91.055% .663072 .865579)}}}@layer base{*,:after,:before,::backdrop{box-sizing:border-box;border:0 solid;margin:0;padding:0}::file-selector-button{box-sizing:border-box;border:0 solid;margin:0;padding:0}html,:host{-webkit-text-size-adjust:100%;tab-size:4;line-height:1.5;font-family:var(--default-font-family,ui-sans-serif, system-ui, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji");font-feature-settings:var(--default-font-feature-settings,normal);font-variation-settings:var(--default-font-variation-settings,normal);-webkit-tap-highlight-color:transparent}hr{height:0;color:inherit;border-top-width:1px}abbr:where([title]){-webkit-text-decoration:underline dotted;text-decoration:underline dotted}h1,h2,h3,h4,h5,h6{font-size:inherit;font-weight:inherit}a{color:inherit;-webkit-text-decoration:inherit;-webkit-text-decoration:inherit;-webkit-text-decoration:inherit;-webkit-text-decoration:inherit;text-decoration:inherit}b,strong{font-weight:bolder}code,kbd,samp,pre{font-family:var(--default-mono-font-family,ui-monospace, SFMono-Regular, Menlo, Monaco, Consolas, "Liberation Mono", "Courier New", monospace);font-feature-settings:var(--default-mono-font-feature-settings,normal);font-variation-settings:var(--default-mono-font-variation-settings,normal);font-size:1em}small{font-size:80%}sub,sup{vertical-align:baseline;font-size:75%;line-height:0;position:relative}sub{bottom:-.25em}sup{top:-.5em}table{text-indent:0;border-color:inherit;border-collapse:collapse}:-moz-focusring{outline:auto}progress{vertical-align:baseline}summary{display:list-item}ol,ul,menu{list-style:none}img,svg,video,canvas,audio,iframe,embed,object{vertical-align:middle;display:block}img,video{max-width:100%;height:auto}button,input,select,optgroup,textarea{font:inherit;font-feature-settings:inherit;font-variation-settings:inherit;letter-spacing:inherit;color:inherit;opacity:1;background-color:#0000;border-radius:0}::file-selector-button{font:inherit;font-feature-settings:inherit;font-variation-settings:inherit;letter-spacing:inherit;color:inherit;opacity:1;background-color:#0000;border-radius:0}:where(select:is([multiple],[size])) optgroup{font-weight:bolder}:where(select:is([multiple],[size])) optgroup option{padding-inline-start:20px}::file-selector-button{margin-inline-end:4px}::placeholder{opacity:1}@supports (not ((-webkit-appearance:-apple-pay-button))) or (contain-intrinsic-size:1px){::placeholder{color:currentColor}@supports (color:color-mix(in lab, red, red)){::placeholder{color:color-mix(in oklab, currentcolor 50%, transparent)}}}textarea{resize:vertical}::-webkit-search-decoration{-webkit-appearance:none}::-webkit-date-and-time-value{min-height:1lh;text-align:inherit}::-webkit-datetime-edit{display:inline-flex}::-webkit-datetime-edit-fields-wrapper{padding:0}::-webkit-datetime-edit{padding-block:0}::-webkit-datetime-edit-year-field{padding-block:0}::-webkit-datetime-edit-month-field{padding-block:0}::-webkit-datetime-edit-day-field{padding-block:0}::-webkit-datetime-edit-hour-field{padding-block:0}::-webkit-datetime-edit-minute-field{padding-block:0}::-webkit-datetime-edit-second-field{padding-block:0}::-webkit-datetime-edit-millisecond-field{padding-block:0}::-webkit-datetime-edit-meridiem-field{padding-block:0}::-webkit-calendar-picker-indicator{line-height:1}:-moz-ui-invalid{box-shadow:none}button,input:where([type=button],[type=reset],[type=submit]){appearance:button}::file-selector-button{appearance:button}::-webkit-inner-spin-button{height:auto}::-webkit-outer-spin-button{height:auto}[hidden]:where(:not([hidden=until-found])){display:none!important}}@layer components;@layer utilities{.\!visible{visibility:visible!important}.collapse{visibility:collapse}.invisible{visibility:hidden}.visible{visibility:visible}.sr-only{clip-path:inset(50%);white-space:nowrap;border-width:0;width:1px;height:1px;margin:-1px;padding:0;position:absolute;overflow:hidden}.absolute{position:absolute}.fixed{position:fixed}.relative{position:relative}.static{position:static}.sticky{position:sticky}.start{inset-inline-start:var(--spacing)}.end{inset-inline-end:var(--spacing)}.container{width:100%}@media (min-width:40rem){.container{max-width:40rem}}@media (min-width:48rem){.container{max-width:48rem}}@media (min-width:64rem){.container{max-width:64rem}}@media (min-width:80rem){.container{max-width:80rem}}@media (min-width:96rem){.container{max-width:96rem}}.block{display:block}.contents{display:contents}.flex{display:flex}.grid{display:grid}.hidden{display:none}.inline{display:inline}.inline-block{display:inline-block}.inline-flex{display:inline-flex}.inline-grid{display:inline-grid}.table{display:table}.w-24{width:calc(var(--spacing) * 24)}.flex-shrink,.shrink{flex-shrink:1}.grow{flex-grow:1}.transform{transform:var(--tw-rotate-x,) var(--tw-rotate-y,) var(--tw-rotate-z,) var(--tw-skew-x,) var(--tw-skew-y,)}.animate-bounce{animation:var(--animate-bounce)}.animate-ping{animation:var(--animate-ping)}.animate-pulse{animation:var(--animate-pulse)}.resize{resize:both}.flex-wrap{flex-wrap:wrap}.truncate{text-overflow:ellipsis;white-space:nowrap;overflow:hidden}.rounded{border-radius:.25rem}.rounded-full{border-radius:3.40282e38px}.rounded-lg{border-radius:var(--radius-lg)}.border{border-style:var(--tw-border-style);border-width:1px}.bg-\[\#f5f0e6\],.bg-\[rgb\(245_240_230\)\]{background-color:#f5f0e6}.bg-amber-50{background-color:var(--color-amber-50)}.bg-amber-100{background-color:var(--color-amber-100)}.bg-orange-50{background-color:var(--color-orange-50)}.bg-orange-100{background-color:var(--color-orange-100)}.bg-stone-50{background-color:var(--color-stone-50)}.bg-stone-100{background-color:var(--color-stone-100)}.bg-stone-200{background-color:var(--color-stone-200)}.bg-yellow-50{background-color:var(--color-yellow-50)}.bg-clip-text{-webkit-background-clip:text;background-clip:text}.px-4{padding-inline:calc(var(--spacing) * 4)}.px-6{padding-inline:calc(var(--spacing) * 6)}.py-2{padding-block:calc(var(--spacing) * 2)}.py-3{padding-block:calc(var(--spacing) * 3)}.text-2xl{font-size:var(--text-2xl);line-height:var(--tw-leading,var(--text-2xl--line-height))}.text-3xl{font-size:var(--text-3xl);line-height:var(--tw-leading,var(--text-3xl--line-height))}.text-4xl{font-size:var(--text-4xl);line-height:var(--tw-leading,var(--text-4xl--line-height))}.text-5xl{font-size:var(--text-5xl);line-height:var(--tw-leading,var(--text-5xl--line-height))}.text-6xl{font-size:var(--text-6xl);line-height:var(--tw-leading,var(--text-6xl--line-height))}.text-7xl{font-size:var(--text-7xl);line-height:var(--tw-leading,var(--text-7xl--line-height))}.text-8xl{font-size:var(--text-8xl);line-height:var(--tw-leading,var(--text-8xl--line-height))}.text-9xl{font-size:var(--text-9xl);line-height:var(--tw-leading,var(--text-9xl--line-height))}.text-base{font-size:var(--text-base);line-height:var(--tw-leading,var(--text-base--line-height))}.text-lg{font-size:var(--text-lg);line-height:var(--tw-leading,var(--text-lg--line-height))}.text-sm{font-size:var(--text-sm);line-height:var(--tw-leading,var(--text-sm--line-height))}.text-xl{font-size:var(--text-xl);line-height:var(--tw-leading,var(--text-xl--line-height))}.text-xs{font-size:var(--text-xs);line-height:var(--tw-leading,var(--text-xs--line-height))}.break-all{word-break:break-all}.text-\[…\]{color:…}.text-white{color:var(--color-white)}.capitalize{text-transform:capitalize}.lowercase{text-transform:lowercase}.uppercase{text-transform:uppercase}.italic{font-style:italic}.underline{text-decoration-line:underline}.antialiased{-webkit-font-smoothing:antialiased;-moz-osx-font-smoothing:grayscale}.opacity-0{opacity:0}.shadow,.shadow\/elevation{--tw-shadow:0 1px 3px 0 var(--tw-shadow-color,#0000001a), 0 1px 2px -1px var(--tw-shadow-color,#0000001a);box-shadow:var(--tw-inset-shadow), var(--tw-inset-ring-shadow), var(--tw-ring-offset-shadow), var(--tw-ring-shadow), var(--tw-shadow)}.ring{--tw-ring-shadow:var(--tw-ring-inset,) 0 0 0 calc(1px + var(--tw-ring-offset-width)) var(--tw-ring-color,currentcolor);box-shadow:var(--tw-inset-shadow), var(--tw-inset-ring-shadow), var(--tw-ring-offset-shadow), var(--tw-ring-shadow), var(--tw-shadow)}.outline{outline-style:var(--tw-outline-style);outline-width:1px}.blur{--tw-blur:blur(8px);filter:var(--tw-blur,) var(--tw-brightness,) var(--tw-contrast,) var(--tw-grayscale,) var(--tw-hue-rotate,) var(--tw-invert,) var(--tw-saturate,) var(--tw-sepia,) var(--tw-drop-shadow,)}.grayscale{--tw-grayscale:grayscale(100%);filter:var(--tw-blur,) var(--tw-brightness,) var(--tw-contrast,) var(--tw-grayscale,) var(--tw-hue-rotate,) var(--tw-invert,) var(--tw-saturate,) var(--tw-sepia,) var(--tw-drop-shadow,)}.invert{--tw-invert:invert(100%);filter:var(--tw-blur,) var(--tw-brightness,) var(--tw-contrast,) var(--tw-grayscale,) var(--tw-hue-rotate,) var(--tw-invert,) var(--tw-saturate,) var(--tw-sepia,) var(--tw-drop-shadow,)}.filter{filter:var(--tw-blur,) var(--tw-brightness,) var(--tw-contrast,) var(--tw-grayscale,) var(--tw-hue-rotate,) var(--tw-invert,) var(--tw-saturate,) var(--tw-sepia,) var(--tw-drop-shadow,)}.backdrop-filter{-webkit-backdrop-filter:var(--tw-backdrop-blur,) var(--tw-backdrop-brightness,) var(--tw-backdrop-contrast,) var(--tw-backdrop-grayscale,) var(--tw-backdrop-hue-rotate,) var(--tw-backdrop-invert,) var(--tw-backdrop-opacity,) var(--tw-backdrop-saturate,) var(--tw-backdrop-sepia,);backdrop-filter:var(--tw-backdrop-blur,) var(--tw-backdrop-brightness,) var(--tw-backdrop-contrast,) var(--tw-backdrop-grayscale,) var(--tw-backdrop-hue-rotate,) var(--tw-backdrop-invert,) var(--tw-backdrop-opacity,) var(--tw-backdrop-saturate,) var(--tw-backdrop-sepia,)}.transition{transition-property:color,background-color,border-color,outline-color,text-decoration-color,fill,stroke,--tw-gradient-from,--tw-gradient-via,--tw-gradient-to,opacity,box-shadow,transform,translate,scale,rotate,filter,-webkit-backdrop-filter,backdrop-filter,display,content-visibility,overlay,pointer-events;transition-timing-function:var(--tw-ease,var(--default-transition-timing-function));transition-duration:var(--tw-duration,var(--default-transition-duration))}.ease-in{--tw-ease:var(--ease-in);transition-timing-function:var(--ease-in)}.ease-in-out{--tw-ease:var(--ease-in-out);transition-timing-function:var(--ease-in-out)}.ease-out{--tw-ease:var(--ease-out);transition-timing-function:var(--ease-out)}}:root{--paper:#f7f5ef;--paper-deep:#eeeae0;--ink:#102a2a;--ink-soft:#35514c;--mint:#95c7a8;--sage:#456753;--line:#102a2a2b;--serif:Georgia, "Times New Roman", serif;--sans:var(--font-geist-sans), Arial, Helvetica, sans-serif;--ease-out:cubic-bezier(.23, 1, .32, 1);--duration-ui:.18s;--header-height:98px;--circa-black:#191615;--circa-ivory:#f1eeea;--circa-red:#e2301e}*{box-sizing:border-box}html{scroll-behavior:auto;scrollbar-color:var(--circa-black) var(--circa-ivory);scrollbar-width:thin}html::-webkit-scrollbar{width:10px}html::-webkit-scrollbar-track{background:var(--circa-ivory)}html::-webkit-scrollbar-thumb{border:2px solid var(--circa-ivory);background:var(--circa-black)}html.lenis,html.lenis body{height:auto}.lenis.lenis-smooth{scroll-behavior:auto!important}.lenis.lenis-stopped{overflow:clip}body{background:var(--paper);color:var(--ink);font-family:var(--sans);margin:0}a{color:inherit;text-decoration:none}::selection{background:var(--circa-black);color:var(--circa-ivory)}.site-header{z-index:30;background-color:var(--circa-black);color:var(--circa-ivory);background-image:url(/circa-ink-grain.png);background-repeat:repeat;background-size:96px 96px;border-bottom:1px solid #f1eeea38;transition:transform .25s cubic-bezier(.4,0,.2,1);position:sticky;top:0}.site-header.is-hidden{transform:translateY(-100%)}.header-inner{width:100%;height:var(--header-height);justify-content:space-between;align-items:center;gap:clamp(36px,5vw,88px);margin:0 auto;padding-inline:clamp(24px,2.9vw,48px);display:flex}.circa-brand{z-index:1;white-space:nowrap;flex:none;align-items:center;gap:clamp(28px,3vw,48px);display:inline-flex;position:relative}.circa-wordmark{font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.04em;font-size:clamp(2.65rem,3vw,3.25rem);font-weight:600;line-height:.9}.circa-descriptor{font-family:var(--font-circa-interface), Arial, sans-serif;letter-spacing:.16em;text-transform:uppercase;font-size:.84rem;font-weight:600}.desktop-nav{font-family:var(--font-circa-interface), Arial, sans-serif;align-items:center;gap:clamp(36px,4.7vw,78px);font-size:clamp(.93rem,1.2vw,1.14rem);font-weight:400;display:flex}.desktop-nav a{padding:14px 0;transition:color .16s}.desktop-nav a:hover,.desktop-nav a:focus-visible{color:var(--circa-red)}.site-header :focus-visible{outline-color:var(--circa-ivory)}.circa-home{background-color:var(--circa-ivory);color:var(--circa-black);font-family:var(--font-circa-interface), Arial, sans-serif;background-image:url(/circa-paper-grain.png);background-repeat:repeat;background-size:96px 96px}.circa-home :focus-visible{outline:2px solid var(--circa-black);outline-offset:5px}.circa-hero{min-height:calc(100svh - var(--header-height) - 76px);border-bottom:1px solid var(--circa-black);grid-template-rows:minmax(0,1fr) 108px;display:grid}.circa-hero-grid{grid-template-columns:minmax(0,7fr) minmax(340px,3fr);min-height:0;display:grid}.circa-editorial{flex-direction:column;justify-content:center;min-width:0;padding:clamp(42px,4.2vw,70px) clamp(28px,3.2vw,54px) clamp(30px,3vw,50px);display:flex;container-type:inline-size}.circa-topics{color:var(--circa-red);letter-spacing:.18em;text-transform:uppercase;flex-wrap:wrap;gap:.35em .9em;margin:0 0 clamp(18px,2.2vh,28px);font-size:clamp(1.18rem,1.45vw,1.43rem);font-weight:600;line-height:1.2;display:flex}.circa-headline{width:100%;font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.035em;-webkit-user-select:none;user-select:none;margin:0;font-size:clamp(5.5rem,17cqi,12.75rem);font-weight:500;line-height:.86}.circa-headline>span{display:block}.circa-headline-second{white-space:nowrap;align-items:baseline;gap:.06em;display:flex!important}.circa-highlight{background:var(--circa-red);padding:.005em .055em .035em;line-height:.93;display:inline-block}.circa-deck{margin:clamp(20px,2.5vh,30px) 0 0;font-size:clamp(1rem,1.35vw,1.27rem);line-height:1.45}.circa-text-link{letter-spacing:.16em;text-transform:uppercase;border-bottom:1px solid;align-items:center;gap:18px;width:fit-content;padding-bottom:8px;font-size:.98rem;font-weight:600;line-height:1;transition:border-color .16s,color .16s;display:inline-flex}@media (hover:hover) and (pointer:fine){.circa-text-link:hover{border-color:var(--circa-red);color:var(--circa-red)}}.circa-research-link{border-color:var(--circa-red);margin-top:clamp(18px,2.3vh,28px)}.circa-featured{border-left:1px solid var(--circa-black);flex-direction:column;justify-content:center;min-width:0;padding:clamp(38px,4.4vw,72px) clamp(30px,4vw,64px);display:flex}.circa-issue-number{color:#0000;font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.025em;-webkit-text-stroke:.011em var(--circa-black);-webkit-user-select:none;user-select:none;margin-bottom:clamp(16px,2.3vh,28px);font-size:clamp(8.5rem,12.8vw,12.5rem);font-weight:500;line-height:.82}@supports not (-webkit-text-stroke:1px #000){.circa-issue-number{color:var(--circa-black)}}.circa-kicker,.circa-featured-meta{letter-spacing:.24em;text-transform:uppercase;margin:0;font-size:.9rem;font-weight:600;line-height:1.35}.circa-featured-rule{background:var(--circa-black);width:100%;height:1px;margin:clamp(18px,2.5vh,26px) 0 clamp(26px,3.5vh,40px)}.circa-featured-title{font-family:var(--font-circa-editorial), Georgia, serif;letter-spacing:-.035em;margin:0;font-size:clamp(2.45rem,3vw,3.35rem);font-weight:400;line-height:1.02}.circa-featured-title a{transition:color .16s;display:block}.circa-featured-title span{display:block}@media (hover:hover) and (pointer:fine){.circa-featured-title a:hover{color:var(--circa-red)}}.circa-featured-meta{margin-top:clamp(28px,4.6vh,48px)}.circa-featured-meta span{margin-inline:.52em}.circa-featured-link{margin-top:clamp(30px,5.3vh,56px)}.circa-cursor{z-index:80;background:var(--circa-red);width:118px;height:118px;color:var(--circa-ivory);letter-spacing:.22em;text-transform:uppercase;pointer-events:none;opacity:0;will-change:transform;border-radius:50%;place-items:center;font-size:.82rem;font-weight:600;transition:none;display:grid;position:fixed;top:0;left:0;scale:.55}.circa-cursor .circa-cursor-arrow{letter-spacing:0;transition:transform .32s cubic-bezier(.22,1,.36,1);display:inline-block}.circa-cursor.is-visible{opacity:1;transition:opacity .16s,scale .24s cubic-bezier(.22,1,.36,1);scale:1}.circa-cursor.is-on-link .circa-cursor-arrow{transform:translate(4px)}.coming-cursor{width:96px;height:96px;font-size:.74rem}@media (hover:hover) and (pointer:fine){.circa-featured{cursor:pointer}.circa-featured.is-cursor-active,.circa-featured.is-cursor-active a,.coming-grid.is-cursor-active,.coming-grid.is-cursor-active .coming-card{cursor:none}.circa-issue-number{transition:color .52s,-webkit-text-stroke-color .52s}.circa-featured:hover .circa-issue-number{color:var(--circa-red);-webkit-text-stroke-color:var(--circa-red)}.circa-kicker{transition:color .32s,letter-spacing .52s cubic-bezier(.22,1,.36,1)}.circa-featured:hover .circa-kicker{color:var(--circa-red);letter-spacing:.34em}.circa-featured-rule{position:relative;overflow:hidden}.circa-featured-rule:after{content:"";background:var(--circa-red);transform-origin:0;transition:transform .64s cubic-bezier(.22,1,.36,1);position:absolute;inset:0;transform:scaleX(0)}.circa-featured:hover .circa-featured-rule:after{transform:scaleX(1)}.circa-featured:hover .circa-featured-title a{color:var(--circa-red)}.circa-featured-link span[aria-hidden]{transition:transform .32s cubic-bezier(.22,1,.36,1);display:inline-block}.circa-featured:hover .circa-featured-link{border-color:var(--circa-red);color:var(--circa-red)}.circa-featured:hover .circa-featured-link span[aria-hidden]{transform:translate(8px)}.coming-panel-art{transition:transform .7s cubic-bezier(.22,1,.36,1)}.coming-card:hover .coming-panel-art{transform:scale(1.045)}.coming-title{transition:color .32s}.coming-card:hover .coming-title{color:var(--circa-red)}.coming-category{transition:color .32s,letter-spacing .52s cubic-bezier(.22,1,.36,1)}.coming-card:hover .coming-category{color:var(--circa-red);letter-spacing:.26em}.coming-card:hover .coming-action{color:var(--circa-red)}.coming-card:hover .coming-action span{transform:translate(4px)}}@media (prefers-reduced-motion:reduce){.circa-cursor{transition:opacity .15s;scale:1}.circa-featured-rule:after,.circa-kicker,.circa-issue-number,.circa-featured-link span[aria-hidden],.circa-cursor .circa-cursor-arrow,.coming-panel-art,.coming-title,.coming-category{transition:none}.coming-card:hover .coming-panel-art{transform:none}}.circa-century{flex-direction:column;justify-content:center;padding:10px clamp(28px,3.2vw,54px) 12px;display:flex}.circa-century-scale{grid-template-columns:auto minmax(40px,1fr) auto;align-items:center;gap:clamp(16px,1.8vw,28px);display:grid}.circa-year{font-family:var(--font-circa-display), Impact, sans-serif;font-size:clamp(2.3rem,2.75vw,2.85rem);font-weight:500;line-height:1}.circa-century-line{background:var(--circa-black);height:2px;display:block;position:relative}.circa-century-tick{background:var(--circa-red);width:1px;height:30px;position:absolute;top:50%;left:50%;transform:translate(-50%,-50%)}.circa-century p{margin:8px 0 0;font-size:.92rem}.circa-category-rail{background-color:var(--circa-ivory);min-height:76px;color:var(--circa-black);background-image:url(/circa-paper-grain.png);background-repeat:repeat;background-size:96px 96px;grid-template-columns:repeat(4,minmax(0,1fr));display:grid}.circa-category-rail a{min-height:76px;font-family:var(--font-circa-interface), Arial, sans-serif;letter-spacing:.2em;text-transform:uppercase;border-right:1px solid #1916156b;place-items:center;font-size:.82rem;font-weight:600;transition:background .16s,color .16s;display:grid}.circa-category-rail a:last-child{border-right:0}@media (hover:hover) and (pointer:fine){.circa-category-rail a:hover{background:var(--circa-black);color:var(--circa-ivory)}}.coming-next{border-top:1px solid var(--circa-black);padding:clamp(56px,7.2vh,96px) clamp(28px,3.2vw,54px) clamp(64px,8vh,110px)}.coming-header{justify-content:space-between;align-items:flex-end;gap:28px 48px;margin-bottom:clamp(34px,4.6vh,56px);display:flex}.coming-eyebrow{letter-spacing:.22em;text-transform:uppercase;margin:0 0 clamp(16px,2.2vh,26px);font-size:.88rem;font-weight:600}.coming-heading{font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.03em;margin:0;font-size:clamp(3.3rem,6.2vw,5.9rem);font-weight:500;line-height:.88}.coming-support{font-family:var(--font-circa-editorial), Georgia, serif;margin:0 0 .45em;font-size:clamp(1.15rem,1.5vw,1.45rem);line-height:1.35}.coming-grid{grid-template-columns:repeat(3,minmax(0,1fr));gap:clamp(12px,1.1vw,18px);display:grid}.coming-card{border:1px solid var(--circa-black);background:var(--circa-ivory);flex-direction:column;min-width:0;display:flex}.coming-panel{aspect-ratio:648/486;border-bottom:1px solid var(--circa-black);position:relative;overflow:hidden}.coming-panel-art{width:100%;height:100%;display:block;position:absolute;inset:0}.coming-panel-image{object-fit:cover}.coming-panel.is-framed:after{content:"";box-shadow:inset 0 0 0 1px var(--circa-black);pointer-events:none;position:absolute;inset:0}.coming-body{flex-direction:column;flex:1;padding:clamp(22px,2.4vw,34px) clamp(20px,2.2vw,32px) clamp(26px,2.8vw,38px);display:flex}.coming-meta{align-items:center;gap:clamp(14px,1.6vw,24px);margin:0;display:flex}.coming-number{color:var(--circa-red);font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.01em;font-size:clamp(1.9rem,2.1vw,2.4rem);font-weight:600;line-height:.9}.coming-category,.coming-status{letter-spacing:.18em;text-transform:uppercase;font-size:.76rem;font-weight:600;line-height:1.3}.coming-separator{background:#1916158c;flex:none;width:1px;height:15px}.coming-status{align-items:center;gap:9px;display:inline-flex}.coming-status-mark{background:var(--circa-red);flex:none;width:2px;height:12px}.coming-title{font-family:var(--font-circa-editorial), Georgia, serif;letter-spacing:.002em;margin:clamp(20px,2.6vh,32px) 0 0;font-size:clamp(1.5rem,1.95vw,2.1rem);font-weight:500;line-height:1.12}.coming-description{max-width:34ch;font-family:var(--font-circa-editorial), Georgia, serif;margin:clamp(14px,1.8vh,20px) 0 clamp(26px,3.4vh,40px);font-size:clamp(1.05rem,1.2vw,1.22rem);line-height:1.5}.coming-action{border-bottom:1px solid var(--circa-red);letter-spacing:.18em;text-transform:uppercase;align-items:center;gap:14px;width:fit-content;margin-top:auto;padding-bottom:7px;font-size:.82rem;font-weight:600;line-height:1;transition:color .16s;display:inline-flex}.coming-action span{transition:transform .16s}a.coming-action{transition:color .16s}@media (hover:hover) and (pointer:fine){a.coming-action:hover{color:var(--circa-red)}a.coming-action:hover span{transform:translate(4px)}}@media (max-width:1120px){.coming-grid{grid-template-columns:repeat(2,minmax(0,1fr))}.coming-card:last-child{grid-column:1/-1}.coming-card:last-child .coming-panel{aspect-ratio:21/9}}@media (max-width:760px){.coming-header{flex-direction:column;align-items:flex-start;margin-bottom:34px}.coming-support{margin:0}.coming-grid{grid-template-columns:minmax(0,1fr);gap:16px}.coming-card:last-child{grid-column:auto}.coming-panel,.coming-card:last-child .coming-panel{aspect-ratio:16/10}.coming-body{padding:22px 18px 26px}.coming-title{font-size:clamp(1.5rem,6vw,1.9rem)}.coming-description{margin-bottom:26px}}.pf-intro{border-top:1px solid var(--circa-black);grid-template-columns:minmax(0,1fr) minmax(0,1fr);min-height:min(88svh,1040px);display:grid}@media (min-width:1280px){.pf-intro{min-height:max(950px,100svh)}}.pf-editorial{flex-direction:column;align-items:flex-start;min-width:0;padding:clamp(60px,8.5vh,95px) clamp(28px,3.2vw,54px) clamp(56px,8vh,110px);display:flex}.pf-eyebrow{letter-spacing:.22em;text-transform:uppercase;margin:0 0 clamp(48px,7vh,72px);font-size:.88rem;font-weight:600}.pf-eyebrow-number{color:var(--circa-red)}.pf-headline{font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.03em;margin:0 0 clamp(45px,5.5vh,60px);font-size:clamp(3.6rem,6.9vw,7.7rem);font-weight:500;line-height:.92}.pf-headline>span{width:fit-content;display:block}.pf-highlight{background:var(--circa-red);margin:.03em 0;padding:.08em .09em .14em;line-height:1}.pf-deck{max-width:30ch;font-family:var(--font-circa-editorial), Georgia, serif;margin:0;font-size:clamp(1.45rem,1.6vw,1.9rem);line-height:1.48}@media (min-width:1280px){.pf-deck{margin-top:auto}}.pf-cred{letter-spacing:.18em;text-transform:uppercase;align-items:center;gap:14px;margin:clamp(35px,4.5vh,48px) 0 0;font-size:.82rem;font-weight:600;display:inline-flex}.pf-cred-mark{background:var(--circa-red);flex:none;width:9px;height:9px}.pf-cta{border-bottom:1px solid var(--circa-red);letter-spacing:.18em;text-transform:uppercase;align-items:center;gap:14px;width:fit-content;margin-top:clamp(28px,4vh,38px);padding-bottom:7px;font-size:.86rem;font-weight:600;line-height:1;transition:color .16s;display:inline-flex}.pf-cta span{transition:transform .16s}@media (hover:hover) and (pointer:fine){.pf-cta:hover{color:var(--circa-red)}.pf-cta:hover span{transform:translate(4px)}}.pf-themes{border-left:1px solid var(--circa-black);flex-direction:column;min-width:0;padding:clamp(60px,8.5vh,95px) clamp(28px,3.4vw,58px) clamp(48px,6.5vh,88px);display:flex}.pf-themes-label{letter-spacing:.22em;text-transform:uppercase;margin:0 0 clamp(36px,5vh,64px);font-size:.88rem;font-weight:600}.pf-theme-grid{flex:1;grid-template-columns:repeat(2,minmax(0,1fr));grid-auto-rows:minmax(0,1fr);margin:0 0 clamp(36px,5vh,64px);padding:0;list-style:none;display:grid}.pf-theme-cell{border-bottom:1px solid #191615bf;align-items:center;gap:clamp(18px,2vw,34px);min-height:clamp(140px,21vh,235px);padding:clamp(24px,3.5vh,42px) clamp(4px,1.4vw,26px);display:flex}.pf-theme-cell:nth-child(odd){border-right:1px solid #191615bf}.pf-theme-cell:nth-child(2n){padding-left:clamp(24px,2.6vw,44px)}.pf-theme-cell:nth-last-child(-n+2){border-bottom:0}.pf-theme-number{color:#0000;font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.01em;-webkit-text-stroke:.03em var(--circa-black);-webkit-user-select:none;user-select:none;flex:none;font-size:clamp(4.75rem,5vw,6.25rem);font-weight:600;line-height:.9}@supports not (-webkit-text-stroke:1px #000){.pf-theme-number{color:var(--circa-black)}}.pf-theme-name{max-width:12ch;font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:.015em;text-transform:uppercase;font-size:clamp(1.4rem,1.45vw,1.8rem);font-weight:600;line-height:1.08}.pf-subnav{border-top:1px solid var(--circa-black);border-bottom:1px solid var(--circa-black);letter-spacing:.18em;text-transform:uppercase;justify-content:space-between;align-items:center;gap:12px;padding:clamp(26px,3.6vh,38px) 0;font-size:.82rem;font-weight:600;display:flex}.pf-subnav a{transition:color .16s}@media (hover:hover) and (pointer:fine){.pf-subnav a:hover{color:var(--circa-red)}}.pf-subnav-dot{color:#19161599}@media (max-width:1020px){.pf-intro{grid-template-columns:minmax(0,1fr);min-height:0}.pf-themes{border-left:0;border-top:1px solid var(--circa-black)}.pf-theme-cell{min-height:clamp(110px,15vh,160px)}}@media (max-width:760px){.pf-editorial{padding:44px 20px 40px}.pf-eyebrow{margin-bottom:26px}.pf-headline{font-size:clamp(2.9rem,13.4vw,3.9rem)}.pf-deck{font-size:1.12rem}.pf-cred{letter-spacing:.14em}.pf-themes{padding:40px 20px 44px}.pf-themes-label{margin-bottom:24px}.pf-theme-cell{gap:16px;min-height:104px}.pf-theme-cell:nth-child(2n){padding-left:18px}.pf-theme-number{font-size:clamp(2.2rem,9.5vw,2.7rem)}.pf-theme-name{font-size:clamp(1.05rem,4.4vw,1.25rem)}.pf-subnav{letter-spacing:.14em;flex-wrap:wrap;gap:10px 14px;font-size:.74rem}}.abt{border-top:1px solid var(--circa-black);flex-direction:column;padding:clamp(64px,9vh,100px) clamp(28px,3.2vw,54px) clamp(72px,10vh,120px);display:flex}@media (min-width:1280px){.abt{min-height:max(900px,100svh)}}.abt-eyebrow{letter-spacing:.22em;text-transform:uppercase;margin:0 0 clamp(48px,7vh,72px);font-size:.88rem;font-weight:600}.abt-eyebrow-number{color:var(--circa-red)}.abt-headline{font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.035em;margin:0;font-size:clamp(3rem,8.55vw,9.9rem);font-weight:500;line-height:.9}.abt-accent{color:var(--circa-red)}.abt-rule{background:var(--circa-black);flex:none;height:1px;margin:clamp(30px,4.5vh,44px) 0 clamp(64px,8vh,84px)}.abt-grid{grid-template-columns:minmax(0,42fr) minmax(0,58fr);gap:clamp(44px,5.5vw,100px);margin-top:auto;display:grid}.abt-editorial{flex-direction:column;align-items:flex-start;min-width:0;display:flex}.abt-deck{max-width:30ch;font-family:var(--font-circa-editorial), Georgia, serif;margin:0;font-size:clamp(1.55rem,2vw,2.25rem);line-height:1.45}.abt-founder{font-family:var(--font-circa-editorial), Georgia, serif;margin:clamp(38px,5vh,50px) 0 0;font-size:clamp(1.25rem,1.5vw,1.5rem);line-height:1.4}.abt-cta{border-bottom:1px solid var(--circa-red);letter-spacing:.18em;text-transform:uppercase;align-items:center;gap:14px;width:fit-content;margin-top:clamp(28px,4vh,36px);padding-top:8px;padding-bottom:8px;font-size:.9rem;font-weight:600;line-height:1;transition:color .16s;display:inline-flex}.abt-cta span{transition:transform .16s}@media (hover:hover) and (pointer:fine){.abt-cta:hover{color:var(--circa-red)}.abt-cta:hover span{transform:translate(4px)}}.abt-principles{min-width:0}.abt-principles-label{letter-spacing:.22em;text-transform:uppercase;margin:0 0 clamp(32px,4.4vh,54px);font-size:.88rem;font-weight:600}.abt-principle-grid{grid-template-columns:repeat(3,minmax(0,1fr));margin:0;padding:0;list-style:none;display:grid}.abt-principle{min-width:0;padding-right:clamp(18px,2vw,36px)}.abt-principle+.abt-principle{border-left:1px solid #191615bf;padding-left:clamp(20px,2.2vw,40px)}.abt-principle-number{color:#0000;font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.01em;-webkit-text-stroke:.024em var(--circa-red);font-size:clamp(5.5rem,6vw,7rem);font-weight:600;line-height:.9;display:block}@supports not (-webkit-text-stroke:1px #000){.abt-principle-number{color:var(--circa-red)}}.abt-principle-title{letter-spacing:.18em;text-transform:uppercase;margin:clamp(24px,3.2vh,38px) 0 0;font-size:1rem;font-weight:600}.abt-principle-desc{max-width:24ch;font-family:var(--font-circa-editorial), Georgia, serif;margin:clamp(18px,2.6vh,30px) 0 0;font-size:clamp(1.15rem,1.35vw,1.35rem);line-height:1.55}@media (max-width:1150px){.abt-grid{grid-template-columns:minmax(0,1fr);gap:52px}}@media (max-width:760px){.abt{padding:44px 20px 56px}.abt-eyebrow{margin-bottom:24px}.abt-headline{font-size:clamp(2.7rem,12.4vw,3.6rem);line-height:.92}.abt-deck{max-width:none;font-size:1.25rem}.abt-principle-grid{grid-template-columns:minmax(0,1fr)}.abt-principle{border-bottom:1px solid #191615bf;padding:26px 0}.abt-principle:first-child{padding-top:0}.abt-principle:last-child{border-bottom:0;padding-bottom:0}.abt-principle+.abt-principle{border-left:0;padding-left:0}.abt-principle-number{font-size:3.1rem}.abt-principle-desc{max-width:none}}@media (min-width:1280px){.header-inner{padding-inline:43px 62px}.circa-brand{gap:42px}.desktop-nav{gap:72px}.circa-wordmark{transform-origin:0;font-size:3.5rem;position:relative;top:-5px;transform:scaleY(1.17)}.circa-hero{height:calc(100svh - var(--header-height) - 76px);min-height:660px}.circa-editorial{padding-left:48px;position:relative;top:-14px}.circa-topics{margin-left:2px;font-size:1.05rem;position:relative;top:-5px}.circa-headline-second{gap:0}.circa-highlight{padding-bottom:.045em}.circa-featured{border-left:0;justify-content:flex-start;height:auto;min-height:0;padding:60px 88px 20px 51px}.circa-issue-number{margin-bottom:46px;font-size:clamp(13.75rem,15vw,16rem)}.circa-featured-rule{margin:21px 0 34px}.circa-featured-title{font-size:clamp(2.5rem,2.85vw,3rem)}.circa-featured-meta{margin-top:28px}.circa-featured-link{margin-top:58px}.circa-deck{margin-top:25px;margin-left:13px}.circa-research-link{margin-top:24px;margin-left:13px;font-size:1.05rem}.circa-century{position:relative;top:-5px}.circa-century-scale{grid-template-columns:68px minmax(40px,1fr) 68px;gap:12px}.circa-year{transform-origin:0;width:100%;font-size:2.5rem;position:relative;top:-3px;transform:scaleX(.88)}.circa-year:last-child{text-align:right;transform-origin:100%}.circa-century p{margin-top:5px;font-size:1.05rem;position:relative;top:-4px}.circa-hero-grid{position:relative}.circa-hero-grid:after{background:var(--circa-black);content:"";pointer-events:none;width:1px;position:absolute;top:0;bottom:0;left:70%}}.hero-shell{min-height:max(650px, calc(100svh - var(--header-height)));border-bottom:1px solid var(--line);position:relative}.hero-shell:before{content:"";background:#b1d4bc;position:absolute;inset:0 0 0 50%}.hero-spread{z-index:1;width:min(100%,1600px);min-height:inherit;grid-template-columns:repeat(2,minmax(0,1fr));margin:0 auto;display:grid;position:relative}.hero-subjects{flex-direction:column;justify-content:center;min-width:0;padding:clamp(68px,8vw,132px) clamp(48px,7vw,112px);display:flex}.hero-subject-heading{font-family:var(--serif);letter-spacing:-.04em;margin:0;font-weight:400}.hero-intro-line{color:var(--ink-soft);letter-spacing:-.02em;margin-bottom:clamp(27px,4vh,44px);font-size:clamp(1.1rem,1.45vw,1.45rem);line-height:1.25;display:block}.hero-subject-word{white-space:nowrap;font-size:clamp(4rem,6.65vw,6rem);line-height:.88;display:block}.hero-punctuation{color:var(--mint)}.hero-description{max-width:480px;color:var(--ink-soft);font-family:var(--serif);margin:clamp(38px,5vh,54px) 0 0;font-size:clamp(1.08rem,1.35vw,1.28rem);line-height:1.55}.hero-latest{border-top:1px solid var(--ink);border-bottom:1px solid var(--ink);min-width:0;color:var(--ink);background:#b1d4bc;align-items:center;margin:clamp(34px,5vh,60px) 0;padding:clamp(72px,9vh,104px) clamp(48px,7vw,112px);display:flex;position:relative}.hero-latest:before{background:var(--ink);content:"";width:1px;position:absolute;top:48px;bottom:48px;left:0}.hero-number{color:var(--ink);font-family:var(--serif);font-variant-numeric:lining-nums tabular-nums;letter-spacing:-.06em;pointer-events:none;font-size:clamp(4.6rem,7.2vw,8.2rem);font-weight:400;line-height:.8;position:absolute;top:clamp(28px,4vh,46px);right:clamp(48px,7vw,112px)}.hero-latest-body{width:100%;max-width:600px}.hero-latest-label,.hero-reading-time{color:var(--ink);letter-spacing:.09em;text-transform:uppercase;margin:0;font-size:.7rem;font-weight:700}.hero-latest-title{max-width:620px;font-family:var(--serif);letter-spacing:-.04em;text-wrap:balance;margin:clamp(30px,4.2vh,44px) 0 0;font-size:clamp(3.15rem,4.7vw,4.8rem);font-weight:400;line-height:.98}.hero-latest-title a{text-underline-offset:.12em;text-decoration-thickness:1px}.hero-latest-summary{max-width:520px;color:var(--ink);font-family:var(--serif);margin:clamp(30px,4vh,42px) 0 0;font-size:clamp(1.08rem,1.35vw,1.27rem);line-height:1.55}.hero-reading-time{margin-top:clamp(24px,3.2vh,34px)}.hero-editorial-link{width:max-content;color:var(--ink);align-items:center;gap:11px;margin-top:clamp(31px,4.2vh,44px);padding-bottom:6px;font-size:.84rem;font-weight:600;display:inline-flex;position:relative}.hero-editorial-link:after{background:var(--mint);content:"";transform-origin:0;height:1px;transition:transform var(--duration-ui) var(--ease-out);position:absolute;bottom:0;left:0;right:0;transform:scaleX(.82)}.hero-latest .hero-editorial-link:after{background:var(--ink)}.hero-link-arrow{transition:transform var(--duration-ui) var(--ease-out)}@media (hover:hover) and (pointer:fine){.hero-editorial-link:hover:after{transform:scaleX(1)}.hero-editorial-link:hover .hero-link-arrow{transform:translate(3px)}.hero-latest-title a:hover{text-decoration:underline}}.button{border:1px solid var(--ink);letter-spacing:.01em;min-height:52px;transition:background var(--duration-ui) ease, border-color var(--duration-ui) ease, color var(--duration-ui) ease, transform .14s var(--ease-out);justify-content:center;align-items:center;gap:10px;padding:0 24px;font-size:.77rem;font-weight:700;display:inline-flex}.button-dark{background:var(--ink);color:var(--paper)}.button-quiet{background:0 0}.button:active{transform:scale(.97)}.button-dark:hover,.button-dark:focus-visible{background:var(--sage);border-color:var(--sage)}.button-quiet:hover,.button-quiet:focus-visible{background:var(--mint)}@media (max-width:1120px){.hero-subjects,.hero-latest{padding-left:clamp(36px,5.3vw,60px);padding-right:clamp(36px,5.3vw,60px)}.hero-subject-word{font-size:clamp(3.35rem,7vw,4.9rem)}.hero-latest-title{font-size:clamp(2.85rem,5.2vw,4rem)}.hero-number{font-size:clamp(4rem,8vw,6rem);right:clamp(36px,5.3vw,60px)}}@media (min-width:761px){.hero-latest{border-top:0;border-bottom:0;margin:0;padding-top:calc(clamp(72px,9vh,104px) + clamp(128px,16vh,146px));padding-left:clamp(92px,12vw,132px)}.hero-latest:before{top:clamp(65px,3.8vw,68px);bottom:clamp(68px,4vw,73px);left:clamp(60px,3.5vw,65px)}.hero-latest-body:before,.hero-latest-body:after{background:var(--ink);content:"";pointer-events:none;height:1px;position:absolute;left:clamp(60px,3.5vw,65px);right:clamp(25px,1.55vw,30px)}.hero-latest-body:before{top:clamp(18px,1.1vw,20px)}.hero-latest-body:after{bottom:clamp(25px,1.55vw,30px)}.hero-latest-title{margin-top:clamp(44px,5.5vh,54px)}.hero-latest-summary{margin-top:clamp(46px,5.8vh,56px)}.hero-reading-time{margin-top:clamp(40px,4.8vh,48px)}.hero-latest .hero-editorial-link{margin-top:clamp(48px,6vh,56px)}.hero-number{top:clamp(65px,4vw,75px)}}@media (min-width:1121px){.hero-latest{padding-left:clamp(132px,7.8vw,140px)}.hero-number{right:clamp(45px,3vw,55px)}}@media (min-width:1601px){.hero-latest-body:before,.hero-latest-body:after{right:calc(clamp(25px,1.55vw,30px) - 50vw + 800px)}}@media (max-width:760px){.hero-shell{min-height:auto}.hero-shell:before{display:none}.hero-spread{display:block}.hero-subjects{border-bottom:1px solid var(--ink);padding:50px 20px 54px}.hero-intro-line{margin-bottom:30px;font-size:1.08rem}.hero-subject-word{font-size:clamp(2.85rem,14.3vw,4.1rem);line-height:.9}.hero-description{max-width:350px;margin-top:36px;font-size:1.05rem}.hero-editorial-link{margin-top:30px}.hero-latest{border-top:0;margin:0;padding:70px 20px 58px}.hero-number{font-size:3.75rem;top:28px;right:20px}.hero-latest-title{max-width:350px;margin-top:27px;font-size:clamp(3.05rem,13.5vw,3.55rem);line-height:.96}.hero-latest-summary{max-width:350px;margin-top:28px;font-size:1.05rem}.hero-reading-time{margin-top:24px}}@media (prefers-reduced-motion:reduce){*,:before,:after{scroll-behavior:auto!important;transition-duration:.01ms!important;animation-duration:.01ms!important;animation-iteration-count:1!important}}body{min-width:0}button,input,textarea{color:inherit;font:inherit}button{cursor:pointer}img{max-width:100%}:focus-visible{outline:2px solid var(--sage);outline-offset:4px}.skip-link{z-index:100;background:var(--ink);color:var(--paper);padding:12px 16px;font-size:.8rem;position:fixed;top:12px;left:12px;transform:translateY(-150%)}.skip-link:focus{transform:translateY(0)}.sr-only{clip:rect(0, 0, 0, 0);white-space:nowrap;border:0;width:1px;height:1px;padding:0;position:absolute;overflow:hidden}.container-wide{width:min(100% - 48px,1440px);margin-inline:auto}.container-reading{width:min(100% - 48px,1120px);margin-inline:auto}.section-pad{padding-block:clamp(92px,10vw,150px)}.text-link{letter-spacing:.01em;border-bottom:1px solid;align-items:center;gap:18px;padding-bottom:5px;font-size:.75rem;font-weight:700;display:inline-flex}.button-mint{border-color:var(--mint);background:var(--mint);color:var(--ink)}.button-mint:hover,.button-mint:focus-visible{border-color:var(--paper);background:var(--paper)}.mobile-menu{display:none}.section-heading{border-bottom:1px solid var(--line);grid-template-columns:minmax(0,1.4fr) minmax(220px,.6fr);align-items:end;gap:40px;padding-bottom:34px;display:grid}.section-heading h2,.archive-heading h2,.interests-heading h2,.holdings-heading h2,.related-heading h2,.changelog-grid h2{max-width:760px;font-family:var(--serif);letter-spacing:-.04em;margin:0;font-size:clamp(2.35rem,4.5vw,4.75rem);font-weight:400;line-height:.98}.section-aside{color:var(--ink-soft);letter-spacing:0;justify-self:end;font-size:.72rem;line-height:1.5}.article-visual{--visual-bg:#95c7a8;--visual-accent:#102a2a;background:var(--visual-bg);min-height:260px;position:relative;overflow:hidden}.article-visual.is-large{min-height:540px}.visual-number{border-top:1px solid var(--visual-accent);padding-top:10px;position:absolute;bottom:16px;right:20px}@supports (color:color-mix(in lab, red, red)){.visual-number{border-top:1px solid color-mix(in srgb, var(--visual-accent) 45%, transparent)}}.visual-number{font-family:var(--serif);font-size:1.5rem;font-style:italic}.visual-margins{--visual-bg:#d7e4d3;--visual-accent:#315c52}.visual-labour{--visual-bg:#b9d5be;--visual-accent:#102a2a}.visual-robotics{--visual-bg:#d8ded0;--visual-accent:#526c5c}.visual-state{--visual-bg:#173b39;--visual-accent:#95c7a8;--visual-secondary:#95c7a84d}.visual-state .visual-number{color:var(--paper)}.visual-energy{--visual-bg:#d8cf96;--visual-accent:#263f34}.visual-markets{--visual-bg:#c8d1c0;--visual-accent:#213d38}.featured-section{border-block:1px solid var(--line);background:#efede5}.featured-layout{border-block:1px solid var(--line);grid-template-columns:minmax(0,1.12fr) minmax(360px,.88fr);margin-top:42px;display:grid}.featured-art-link{min-width:0}.featured-copy{background:var(--paper);flex-direction:column;padding:clamp(38px,5vw,78px);display:flex}.article-meta{color:var(--sage);letter-spacing:.02em;flex-wrap:wrap;justify-content:space-between;gap:14px;font-size:.66rem;font-weight:750;display:flex}.featured-copy h2{font-family:var(--serif);letter-spacing:-.045em;margin:clamp(42px,6vw,90px) 0 25px;font-size:clamp(3rem,5vw,5.8rem);font-weight:400;line-height:.95}.featured-copy h2 a,.article-card h3 a,.index-feature h2 a{background-image:linear-gradient(var(--sage), var(--sage));background-position:0 100%;background-repeat:no-repeat;background-size:0 1px;transition:background-size .25s}.featured-copy h2 a:hover,.featured-copy h2 a:focus-visible,.article-card h3 a:hover,.article-card h3 a:focus-visible,.index-feature h2 a:hover,.index-feature h2 a:focus-visible{background-size:100% 1px}.featured-copy>p{max-width:610px;color:var(--ink-soft);font-family:var(--serif);margin:0;font-size:1.16rem;line-height:1.65}.featured-footer{color:var(--ink-soft);justify-content:space-between;align-items:center;gap:20px;margin-top:auto;padding-top:45px;font-size:.72rem;display:flex}.recent-section{border-bottom:1px solid var(--line)}.article-grid{grid-template-columns:repeat(3,minmax(0,1fr));gap:clamp(28px,3vw,48px);margin-top:48px;display:grid}.article-card{background:var(--paper);min-width:0}.article-card>a{display:block}.article-card-body{padding:28px}.article-card h3{min-height:2.5em;font-family:var(--serif);letter-spacing:-.045em;margin:30px 0 16px;font-size:clamp(1.8rem,2.4vw,2.7rem);font-weight:400;line-height:1.06}.article-card-body>p{min-height:6.2em;color:var(--ink-soft);font-family:var(--serif);margin:0;font-size:1rem;line-height:1.55}.article-card-foot{border-top:1px solid var(--line);color:var(--ink-soft);justify-content:space-between;align-items:center;gap:16px;margin-top:30px;padding-top:18px;font-size:.67rem;display:flex}.explore-section{background:var(--mint)}.explore-section .section-heading{border-color:#102a2a47}.theme-list{margin-top:42px}.theme-row{min-height:136px;transition:background var(--duration-ui) ease;border-bottom:1px solid #102a2a40;grid-template-columns:minmax(220px,.9fr) minmax(260px,1fr);align-items:center;gap:30px;padding:24px 10px;display:grid}.theme-row:hover,.theme-row:focus-visible{background:#f7f5ef47}.theme-row h3{font-family:var(--serif);letter-spacing:-.045em;margin:0;font-size:clamp(1.8rem,3vw,3.6rem);font-weight:400}.theme-row p{max-width:570px;font-family:var(--serif);margin:0;font-size:1rem;line-height:1.55}.portfolio-preview{background:var(--ink);color:var(--paper)}.portfolio-preview-grid{grid-template-columns:minmax(0,.85fr) minmax(0,1.15fr);align-items:center;gap:clamp(54px,7vw,112px);display:grid}.portfolio-preview-copy h2{max-width:680px;font-family:var(--serif);letter-spacing:-.045em;margin:20px 0 28px;font-size:clamp(3rem,5.2vw,5.7rem);font-weight:400;line-height:.92}.portfolio-lede{color:#c9d3ca;max-width:600px;font-family:var(--serif);font-size:1.18rem;line-height:1.6}.portfolio-themes{color:#ced8d0;max-width:620px;margin:30px 0 0;font-size:.78rem;line-height:1.65}.portfolio-themes span:not(:last-child):after{content:" · ";color:var(--mint)}.portfolio-actions{color:#aebeb2;letter-spacing:.04em;align-items:center;gap:28px;margin-top:36px;font-size:.66rem;display:flex}.mini-disclaimer{color:#859b8d;margin:28px 0 0;font-size:.64rem;line-height:1.5}.portfolio-chart-wrap{grid-template-columns:minmax(300px,1fr) minmax(260px,.95fr);align-items:center;gap:clamp(30px,5vw,70px);display:grid}.portfolio-preview .portfolio-chart-wrap{grid-template-columns:minmax(240px,.8fr) minmax(0,1.2fr);gap:clamp(32px,4vw,58px);min-width:0}.portfolio-preview .donut-chart{justify-self:center;width:min(100%,360px)}.donut-chart{aspect-ratio:1;border-radius:50%;place-items:center;width:min(100%,480px);display:grid;position:relative}.donut-chart:after{aspect-ratio:1;background:var(--paper);content:"";border-radius:50%;width:56%;position:absolute}.portfolio-preview .donut-chart:after{background:var(--ink)}.donut-centre{z-index:1;text-align:center;flex-direction:column;width:44%;display:flex}.donut-centre strong{font-family:var(--serif);letter-spacing:-.05em;font-size:clamp(2.2rem,4vw,4.5rem);font-weight:400}.donut-centre span{letter-spacing:.01em;font-size:.59rem}.chart-legend{border-top:1px solid}.portfolio-preview .chart-legend{border-color:#f7f5ef33}.legend-row{border-bottom:1px solid var(--line);grid-template-columns:26px 10px 1fr auto;align-items:center;gap:10px;min-height:47px;font-size:.72rem;display:grid}.portfolio-preview .legend-row{border-color:#f7f5ef2e;grid-template-columns:10px minmax(0,1fr) auto}.legend-index{display:none}.portfolio-preview .legend-index{color:var(--mint)}.legend-swatch{border-radius:50%;width:7px;height:7px}.legend-copy{flex-direction:column;gap:4px;min-width:0;display:flex}.legend-copy small{color:#aebeb2;max-width:360px;font-family:var(--serif);font-size:.65rem;line-height:1.35}.portfolio-preview .legend-row{min-height:72px}.newsletter-wrap{padding-block:clamp(80px,9vw,140px)}.newsletter-section{background:var(--sage);color:var(--paper);grid-template-columns:1fr 1fr;align-items:end;gap:clamp(50px,10vw,150px);padding:clamp(45px,6vw,85px);display:grid}.newsletter-copy h2{font-family:var(--serif);letter-spacing:-.06em;margin:18px 0;font-size:clamp(3rem,5vw,5.7rem);font-weight:400;line-height:.95}.newsletter-copy p{color:#deeadf;max-width:500px;font-family:var(--serif);margin:0;font-size:1.1rem}.newsletter-form{grid-template-columns:1fr auto;display:grid}.newsletter-form input,.newsletter-form button{border:1px solid #f7f5ef7a;border-radius:0;min-height:60px}.newsletter-form input{min-width:0;color:var(--paper);background:0 0;outline:0;padding:0 20px}.newsletter-form input::placeholder{color:#d2dfd4}.newsletter-form input:focus{border-color:var(--paper);box-shadow:inset 0 0 0 1px var(--paper)}.newsletter-form button{background:var(--paper);color:var(--ink);align-items:center;gap:25px;padding:0 22px;font-size:.75rem;font-weight:700;display:flex}.newsletter-form small,.newsletter-form .form-status{color:#d2dfd4;grid-column:1/-1;font-size:.62rem}.newsletter-form small{margin-top:12px}.form-status{min-height:1.3em;margin:6px 0 0}.site-footer{border-top:4px solid var(--circa-red);background-color:var(--circa-black);color:var(--circa-ivory);background-image:url(/circa-ink-grain.png);background-repeat:repeat;background-size:96px 96px}.site-footer :focus-visible{outline:2px solid var(--circa-red);outline-offset:5px}.footer-masthead{border-bottom:1px solid #f1eeea2e;flex-wrap:wrap;justify-content:space-between;align-items:flex-end;gap:clamp(28px,4vw,72px);padding:clamp(48px,7vh,76px) clamp(28px,3.2vw,54px) clamp(34px,5vh,52px);display:flex}.footer-wordmark{font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.035em;white-space:nowrap;font-size:clamp(4.2rem,6.6vw,7.5rem);font-weight:600;line-height:.85;display:inline-block}.footer-horizon{grid-template-columns:auto minmax(120px,1fr) auto;align-items:center;gap:16px;width:min(340px,100%);padding-bottom:12px;display:grid}.footer-year{font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.01em;font-size:clamp(1.5rem,1.8vw,1.9rem);font-weight:500;line-height:1}.footer-horizon-line{background:#f1eeea59;height:1px;position:relative}.footer-horizon-tick{background:var(--circa-red);width:2px;height:16px;position:absolute;top:50%;left:8%;transform:translateY(-50%)}.footer-main{grid-template-columns:repeat(3,minmax(0,1fr));padding:0 clamp(28px,3.2vw,54px);display:grid}.footer-col{border-left:1px solid #f1eeea2e;min-width:0;padding:clamp(36px,5vh,56px) clamp(24px,2.6vw,44px) clamp(44px,6vh,64px)}.footer-col:last-child{border-right:1px solid #f1eeea2e}.footer-col-heading{letter-spacing:.3em;text-transform:uppercase;color:#f1eeea80;margin:0 0 clamp(22px,3.2vh,32px);font-size:.72rem;font-weight:600}.footer-col-links{flex-direction:column;align-items:flex-start;gap:clamp(14px,2vh,20px);margin:0;padding:0;list-style:none;display:flex}.footer-col-links a{letter-spacing:.2em;text-transform:uppercase;align-items:center;gap:12px;font-size:.95rem;font-weight:600;transition:color .16s,transform .22s cubic-bezier(.22,1,.36,1);display:inline-flex}.footer-linkedin-icon,.footer-mail-icon{flex:none;width:16px;height:16px}.footer-linkedin-icon{fill:currentColor}.footer-mail-icon{fill:none;stroke:currentColor;stroke-width:1.8px;stroke-linecap:round;stroke-linejoin:round}.footer-col-links a:focus-visible{color:var(--circa-red)}@media (hover:hover) and (pointer:fine){.footer-col-links a:hover{color:var(--circa-red);transform:translate(6px)}}.footer-rail{border-top:1px solid #f1eeea2e;justify-content:space-between;align-items:center;gap:16px 36px;min-height:clamp(80px,10vh,104px);padding-inline:clamp(28px,3.2vw,54px);display:flex}.footer-statement,.footer-copyright{letter-spacing:.2em;text-transform:uppercase;margin:0;font-size:.82rem;font-weight:600;line-height:1}.footer-copyright{align-items:center;gap:14px;display:inline-flex}.footer-mark{background:var(--circa-red);flex:none;width:11px;height:11px}@media (prefers-reduced-motion:reduce){.footer-col-links a{transition:none}}@media (max-width:900px){.footer-masthead{flex-direction:column;align-items:flex-start;gap:28px;padding:44px 20px 30px}.footer-wordmark{font-size:clamp(3.2rem,15vw,4.4rem)}.footer-horizon{width:min(280px,100%);padding-bottom:0}.footer-main{grid-template-columns:minmax(0,1fr);padding:0 20px}.footer-col{border-top:1px solid #f1eeea2e;border-left:0;padding:30px 0 34px}.footer-col:first-child{border-top:0}.footer-col:last-child{border-right:0}.footer-col-heading{margin-bottom:20px}.footer-rail{flex-direction:column;justify-content:center;align-items:flex-start;gap:14px;min-height:0;padding-block:28px;padding-inline:20px}}.page-hero{border-bottom:1px solid var(--line);grid-template-columns:1.25fr .65fr auto;align-items:end;gap:60px;min-height:500px;padding-block:clamp(90px,12vw,170px) 70px;display:grid}.page-hero h1,.contact-hero h1,.about-intro h1,.portfolio-hero h1{max-width:960px;font-family:var(--serif);letter-spacing:-.045em;margin:0;font-size:clamp(3.5rem,6.4vw,6rem);font-weight:400;line-height:.89}.page-hero>p{max-width:520px;color:var(--ink-soft);font-family:var(--serif);margin:0;font-size:1.13rem;line-height:1.65}.page-count{color:var(--sage);letter-spacing:.01em;justify-self:end;font-size:.66rem;font-weight:700}.index-feature{border-block:1px solid var(--line);grid-template-columns:minmax(0,1.08fr) minmax(380px,.92fr);gap:0;margin-top:72px;display:grid}.index-feature>div:last-child{background:0 0;flex-direction:column;padding:clamp(35px,5vw,72px);display:flex}.index-feature h2{font-family:var(--serif);letter-spacing:-.06em;margin:clamp(45px,6vw,90px) 0 25px;font-size:clamp(3rem,5vw,5.5rem);font-weight:400;line-height:.96}.index-feature>div>p{color:var(--ink-soft);font-family:var(--serif);margin:0;font-size:1.08rem;line-height:1.6}.index-feature-foot{color:var(--ink-soft);justify-content:space-between;align-items:center;margin-top:auto;padding-top:40px;font-size:.67rem;display:flex}.archive-section{padding-top:clamp(110px,11vw,170px)}.archive-heading{border-bottom:1px solid var(--line);padding-bottom:36px}.archive-heading h2{scroll-margin-top:calc(var(--header-height) + 24px)}.article-tools{border-bottom:1px solid var(--line);justify-content:space-between;align-items:center;gap:30px;padding-block:28px;display:flex}.category-filters{flex-wrap:wrap;gap:7px;display:flex}.category-filters button{border:1px solid var(--line);background:0 0;border-radius:2px;min-height:38px;padding:0 14px;font-size:.67rem}.category-filters button:hover,.category-filters button.is-active{border-color:var(--ink);background:var(--ink);color:var(--paper)}.search-box{border-bottom:1px solid var(--ink);align-items:center;gap:10px;min-width:250px;padding:0 4px 9px;display:flex}.search-box input{background:0 0;border:0;outline:0;width:100%;font-size:.78rem}.results-count{color:var(--ink-soft);letter-spacing:.05em;margin:22px 0 -24px;font-size:.65rem}.article-grid-index{margin-top:48px}.load-more{border:1px solid var(--ink);background:0 0;justify-content:center;align-items:center;gap:20px;width:100%;min-height:62px;margin-top:24px;font-size:.72rem;font-weight:700;display:flex}.load-more:hover{background:var(--ink);color:var(--paper)}.empty-state{border:1px solid var(--line);text-align:center;margin-top:50px;padding:80px 30px}.empty-state>span{color:var(--sage);font-size:.65rem}.empty-state h3{font-family:var(--serif);margin:15px 0 8px;font-size:2.4rem;font-weight:400}.empty-state p{color:var(--ink-soft)}.empty-state button{border:1px solid var(--ink);background:0 0;margin-top:20px;padding:10px 16px}.about-hero{grid-template-columns:minmax(360px,.75fr) minmax(0,1.25fr);align-items:center;gap:clamp(60px,10vw,160px);padding-block:clamp(80px,10vw,150px);display:grid}.about-portrait{min-height:560px;color:var(--ink-soft);font-family:var(--serif);background:#d7e4d3;align-items:flex-start;padding:24px;font-size:1rem;display:flex;position:relative}.about-intro h1{font-size:clamp(3.4rem,5.8vw,6rem)}.about-lede{color:var(--ink);font-family:var(--serif);margin:40px 0 20px;font-size:1.4rem!important;line-height:1.55!important}.about-intro>p{max-width:720px;color:var(--ink-soft);font-family:var(--serif);font-size:1.08rem;line-height:1.7}.about-actions{flex-wrap:wrap;gap:12px;margin-top:36px;display:flex}.about-story{border-block:1px solid var(--line);background:#efede5}.about-story-grid,.strategy-grid,.working-grid{grid-template-columns:1fr;gap:70px;display:grid}.about-story h2,.strategy-grid h2,.working-grid h2{max-width:800px;font-family:var(--serif);letter-spacing:-.055em;margin:0 0 40px;font-size:clamp(3rem,5vw,5.6rem);font-weight:400;line-height:.98}.about-story p,.strategy-grid>div>p,.working-grid>div>p{max-width:720px;color:var(--ink-soft);font-family:var(--serif);font-size:1.18rem;line-height:1.75}.interests-heading{border-bottom:1px solid var(--line);padding-bottom:40px}.interest-grid{border-bottom:1px solid var(--line);grid-template-columns:repeat(4,1fr);display:grid}.interest-grid article{border-right:1px solid var(--line);min-height:290px;padding:32px 28px}.interest-grid article:last-child{border-right:0}.interest-grid article>span{color:var(--sage);font-size:.62rem}.interest-grid h3{font-family:var(--serif);letter-spacing:-.035em;margin:70px 0 18px;font-size:2rem;font-weight:400}.interest-grid p{color:var(--ink-soft);font-family:var(--serif);line-height:1.55}.working-towards{background:var(--ink);color:var(--paper);padding-block:clamp(100px,11vw,170px)}.working-grid>div>p{color:#b7c8bc}.working-grid .button{margin-top:25px}.portfolio-hero{background:var(--ink);color:var(--paper);padding-block:clamp(90px,11vw,160px)}.portfolio-hero-grid{grid-template-columns:1fr 260px;align-items:end;gap:80px;display:grid}.portfolio-hero h1{max-width:920px;font-size:clamp(3.5rem,6.4vw,6rem)}.portfolio-hero-grid>div:first-child>p{color:#bdccc2;max-width:720px;font-family:var(--serif);margin:38px 0 0;font-size:1.22rem;line-height:1.6}.portfolio-updated{border-top:1px solid #f7f5ef4d;grid-template-columns:1fr auto;gap:12px 20px;padding-top:24px;font-size:.68rem;display:grid}.portfolio-updated span{color:#91a79a}.portfolio-disclaimer{z-index:2;border:1px solid var(--line);background:var(--mint);grid-template-columns:180px 1fr;gap:40px;margin-top:-1px;padding:27px 30px;display:grid;position:relative}.portfolio-disclaimer span{font-size:.72rem;font-weight:650}.portfolio-disclaimer p{max-width:920px;margin:0;font-size:.76rem;line-height:1.55}.allocation-heading{border-bottom:1px solid var(--line);grid-template-columns:1fr .5fr;align-items:end;gap:50px;padding-bottom:40px;display:grid}.allocation-heading h2{font-family:var(--serif);letter-spacing:-.06em;margin:16px 0 0;font-size:clamp(3rem,6vw,6rem);font-weight:400;line-height:.95}.allocation-heading>p{color:var(--ink-soft);font-family:var(--serif);margin:0;font-size:1.05rem;line-height:1.6}.allocation-section>.portfolio-chart-wrap{grid-template-columns:minmax(360px,.85fr) 1fr;margin-top:70px}.allocation-section .donut-chart{justify-self:center}.allocation-section .legend-row{min-height:61px;font-size:.82rem}.holdings-section{border-block:1px solid var(--line);background:#efede5}.holdings-heading{padding-bottom:36px}.portfolio-table-wrap{border-top:1px solid var(--ink);overflow-x:auto}.portfolio-table{border-collapse:collapse;text-align:left;width:100%;min-width:1040px}.portfolio-table th,.portfolio-table td{border-bottom:1px solid var(--line);vertical-align:top;padding:25px 20px}.portfolio-table thead th{color:var(--sage);font-size:.7rem;font-weight:650}.portfolio-table tbody th{gap:18px;width:27%;display:flex}.portfolio-table tbody th>span:last-child{flex-direction:column;gap:8px;display:flex}.portfolio-table tbody th strong{font-family:var(--serif);font-size:1.25rem;font-weight:400}.portfolio-table tbody th small{max-width:250px;color:var(--ink-soft);font-size:.68rem;font-weight:400;line-height:1.5}.portfolio-table tbody td{color:var(--ink-soft);font-family:var(--serif);font-size:.86rem;line-height:1.55}.portfolio-table tbody td:nth-child(2){color:var(--ink);font-family:var(--sans);font-size:1.15rem}.table-index{color:var(--sage);font-family:var(--sans);font-size:.58rem;font-weight:500}.strategy-principles{border-top:1px solid var(--line);grid-template-columns:1fr 1fr;margin-top:50px;display:grid}.strategy-principles span{border-bottom:1px solid var(--line);padding:18px 5px;font-size:.72rem}.strategy-principles span:nth-child(odd){border-right:1px solid var(--line)}.changelog-section{background:var(--mint)}.changelog-grid{grid-template-columns:.75fr 1.25fr;gap:90px;display:grid}.changelog-grid>div>p{max-width:430px;font-family:var(--serif);line-height:1.6}.changelog-list{border-top:1px solid #102a2a59;margin:0;padding:0;list-style:none}.changelog-list li{border-bottom:1px solid #102a2a59;grid-template-columns:40px 130px 1fr;gap:25px;min-height:120px;padding:25px 0;display:grid}.changelog-list li>span{font-size:.59rem}.changelog-list time{font-size:.69rem}.changelog-list strong{font-family:var(--serif);font-size:1.25rem;font-weight:400}.changelog-list p{margin:8px 0 0;font-size:.74rem;line-height:1.5}.contact-hero{padding-block:clamp(90px,11vw,160px)}.contact-hero-grid{grid-template-columns:1.25fr .55fr;align-items:end;gap:90px;margin-top:22px;display:grid}.contact-hero h1{margin:0;font-size:clamp(3.5rem,6.4vw,6rem)}.contact-hero-grid>div>p{color:var(--ink-soft);font-family:var(--serif);margin:0 0 30px;font-size:1.18rem;line-height:1.65}.contact-email{border-bottom:1px solid var(--ink);justify-content:space-between;gap:20px;padding:14px 0;font-size:.8rem;font-weight:700;display:flex}.contact-body{border-top:1px solid var(--line);background:#efede5}.contact-layout{grid-template-columns:.55fr 1.25fr;gap:clamp(70px,10vw,160px);display:grid}.enquiry-list{border-top:1px solid var(--line);margin:30px 0 40px}.enquiry-list>div{border-bottom:1px solid var(--line);padding:24px 0}.enquiry-list strong{font-family:var(--serif);font-size:1.2rem;font-weight:400}.enquiry-list p{color:var(--ink-soft);font-family:var(--serif);margin:7px 0 0;font-size:.88rem;line-height:1.5}.contact-form-panel{border:1px solid var(--line);background:var(--paper);padding:clamp(35px,5vw,70px)}.contact-form-panel h2{font-family:var(--serif);letter-spacing:-.055em;margin:18px 0 50px;font-size:clamp(2.8rem,5vw,5.2rem);font-weight:400;line-height:.98}.contact-form{flex-direction:column;gap:28px;display:flex}.form-row{grid-template-columns:1fr 1fr;gap:20px;display:grid}.contact-form label{flex-direction:column;gap:10px;display:flex}.contact-form label>span{color:var(--sage);font-size:.72rem;font-weight:650}.contact-form input,.contact-form textarea{border:0;border-bottom:1px solid var(--line);resize:vertical;background:0 0;border-radius:0;outline:0;width:100%;padding:15px 0}.contact-form input:focus,.contact-form textarea:focus{border-color:var(--ink)}.contact-form textarea{min-height:170px}.contact-submit-row{align-items:center;gap:25px;display:flex}.contact-submit-row .form-status{max-width:350px;color:var(--sage);font-size:.7rem}.article-header{padding-block:clamp(85px,11vw,155px) 70px}.back-link{color:var(--ink-soft);gap:12px;margin-bottom:70px;font-size:.68rem;font-weight:700;display:inline-flex}.back-link:hover{color:var(--sage)}.article-header-meta{color:var(--sage);flex-wrap:wrap;gap:25px;font-size:.72rem;font-weight:650;display:flex}.article-header-meta span+span:before{color:var(--line);content:"/";margin-right:25px}.article-header h1{max-width:1040px;font-family:var(--serif);letter-spacing:-.045em;text-wrap:balance;margin:32px 0 30px;font-size:clamp(3.4rem,6.2vw,6rem);font-weight:400;line-height:.9}.article-subtitle{max-width:800px;color:var(--ink-soft);font-family:var(--serif);margin:0;font-size:clamp(1.25rem,2vw,1.65rem);line-height:1.55}.author-row{border-top:1px solid var(--line);grid-template-columns:44px 1fr auto;align-items:center;gap:14px;margin-top:55px;padding-top:24px;display:grid}.author-mark{aspect-ratio:1;background:var(--ink);width:42px;color:var(--paper);font-family:var(--serif);border-radius:50%;place-items:center;font-size:.78rem;font-style:italic;display:grid}.author-row>div:not(.share-actions){flex-direction:column;gap:4px;display:flex}.author-row strong{font-size:.74rem}.author-row>div>span{color:var(--ink-soft);font-size:.63rem}.share-actions{align-items:center;gap:8px;display:flex}.share-actions>span{color:var(--ink-soft);margin-right:5px;font-size:.65rem}.share-actions button{border:1px solid var(--line);background:0 0;padding:7px 10px;font-size:.6rem}.share-actions button:hover{border-color:var(--ink);background:var(--ink);color:var(--paper)}.article-hero-visual{position:relative}.article-hero-visual .article-visual{min-height:clamp(450px,52vw,760px)}.hero-visual-caption{border-bottom:1px solid var(--line);color:var(--ink-soft);justify-content:space-between;gap:30px;padding:15px 2px;font-size:.63rem;display:flex}.hero-visual-caption p{margin:0}.article-reading-layout{grid-template-columns:220px minmax(0,720px);justify-content:space-between;gap:70px;padding-block:clamp(80px,9vw,135px);display:grid}.article-toc{border-top:1px solid var(--ink);flex-direction:column;height:max-content;display:flex;position:sticky;top:110px}.article-toc>span{color:var(--sage);padding:15px 0;font-size:.65rem;font-weight:650}.article-toc>a{border-top:1px solid var(--line);color:var(--ink-soft);font-family:var(--serif);grid-template-columns:26px 1fr;gap:8px;padding:11px 0;font-size:.76rem;line-height:1.3;display:grid}.article-toc>a span{color:var(--sage);font-family:var(--sans);font-size:.55rem}.article-toc>a:hover{color:var(--ink)}.article-toc .share-actions{flex-direction:column;align-items:stretch;margin-top:30px}.article-toc .share-actions>span{margin-bottom:3px}.article-prose>p{color:#263f3d;font-family:var(--serif);margin:0 0 1.55em;font-size:clamp(1.14rem,1.5vw,1.28rem);line-height:1.82}.article-prose>p:first-child:first-letter{float:left;color:var(--sage);font-family:var(--serif);margin:.09em .12em 0 0;font-size:4.8em;line-height:.72}.article-prose h2{font-family:var(--serif);letter-spacing:-.05em;margin:2.1em 0 .65em;scroll-margin-top:110px;font-size:clamp(2.5rem,4vw,4.2rem);font-weight:400;line-height:1}.article-prose blockquote{border-block:1px solid var(--line);margin:3.2em 0;padding:38px 0 38px 58px;position:relative}.article-prose blockquote>span{color:var(--mint);font-family:var(--serif);font-size:5rem;line-height:1;position:absolute;top:23px;left:0}.article-prose blockquote p{color:var(--ink);font-family:var(--serif);letter-spacing:-.03em;margin:0;font-size:clamp(1.7rem,3vw,2.7rem);font-style:italic;line-height:1.25}.article-prose blockquote cite{color:var(--sage);margin-top:18px;font-size:.68rem;font-style:normal;display:block}.article-stat{background:var(--mint);grid-template-columns:.65fr 1fr;align-items:center;gap:35px;margin:55px 0;padding:42px;display:grid}.article-stat>strong{font-family:var(--serif);letter-spacing:-.06em;font-size:clamp(3rem,6vw,6rem);font-weight:400;line-height:1}.article-stat>div>span{font-family:var(--serif);font-size:1.3rem;display:block}.article-stat p{margin:8px 0 0;font-size:.7rem;line-height:1.45}.inline-chart{border:1px solid var(--line);background:#efede5;margin:55px 0;padding:35px}.inline-chart figcaption{flex-direction:column;gap:7px;margin-bottom:32px;display:flex}.inline-chart figcaption span{color:var(--sage);font-size:.65rem;font-weight:650}.inline-chart figcaption strong{font-family:var(--serif);font-size:1.6rem;font-weight:400}.inline-chart-bars{flex-direction:column;gap:14px;display:flex}.inline-chart-bars>div{grid-template-columns:135px 1fr 28px;align-items:center;gap:12px;font-size:.62rem;display:grid}.inline-chart-bars>div>div{background:#d9d7ce;height:10px}.inline-chart-bars i{background:var(--sage);height:100%;display:block}.inline-chart>p{color:var(--ink-soft);margin:25px 0 0;font-size:.63rem;line-height:1.5}.article-note{border-top:1px solid var(--sage);background:#95c7a838;margin:45px 0;padding:24px 28px}.article-note strong{font-size:.74rem;font-weight:650}.article-note p{color:var(--ink-soft);font-family:var(--serif);margin:10px 0 0;line-height:1.6}.article-inline-image{margin:55px 0}.article-inline-image img{width:100%;height:auto;display:block}.article-inline-image figcaption{border-bottom:1px solid var(--line);color:var(--ink-soft);padding:12px 0;font-size:.64rem;line-height:1.45}.article-footnotes{border-top:1px solid var(--line);margin-top:55px;padding-top:28px}.article-footnotes ol{color:var(--ink-soft);font-family:var(--serif);padding-left:20px;font-size:.78rem;line-height:1.55}.article-footnotes li{margin-block:10px}.article-sources{border-top:1px solid var(--ink);margin-top:80px;padding-top:35px}.article-sources h2{margin-top:14px;font-size:2.6rem}.article-sources ol{color:var(--ink-soft);font-family:var(--serif);padding-left:20px;font-size:.84rem;line-height:1.6}.article-sources li{border-bottom:1px solid var(--line);padding:10px 0}.article-end{border:1px solid var(--line);grid-template-columns:70px 1fr auto;align-items:center;gap:25px;margin-bottom:clamp(80px,10vw,140px);padding:32px;display:grid}.article-end-mark{aspect-ratio:1;background:var(--ink);width:65px;color:var(--paper);font-family:var(--serif);border-radius:50%;place-items:center;font-size:1.2rem;font-style:italic;display:grid}.article-end>div>span{font-size:.75rem;font-weight:700}.article-end p{max-width:580px;color:var(--ink-soft);font-family:var(--serif);margin:7px 0 0;font-size:.82rem;line-height:1.5}.related-section{border-top:1px solid var(--line);background:#efede5}.related-heading{border-bottom:1px solid var(--line);padding-bottom:35px}.not-found{flex-direction:column;justify-content:center;align-items:flex-start;min-height:70vh;padding-block:100px;display:flex}.not-found>span{color:var(--sage);letter-spacing:.12em;text-transform:uppercase;font-size:.67rem;font-weight:750}.not-found h1{max-width:850px;font-family:var(--serif);letter-spacing:-.065em;margin:25px 0;font-size:clamp(4rem,8vw,8rem);font-weight:400;line-height:.9}.not-found p{max-width:520px;color:var(--ink-soft);font-family:var(--serif);margin:0 0 35px;font-size:1.1rem;line-height:1.6}@media (max-width:1180px){.article-grid{grid-template-columns:repeat(2,minmax(0,1fr))}.portfolio-preview-grid{grid-template-columns:1fr}.portfolio-preview-copy{max-width:850px}.portfolio-preview .portfolio-chart-wrap{width:min(100%,900px)}.interest-grid{grid-template-columns:repeat(2,1fr)}.interest-grid article:nth-child(2){border-right:0}.interest-grid article:nth-child(-n+2){border-bottom:1px solid var(--line)}}@media (min-width:981px) and (max-width:1279px){:root{--header-height:84px}.circa-wordmark{font-size:2.35rem}.circa-descriptor{font-size:.7rem}.circa-brand{gap:22px}.desktop-nav{gap:clamp(26px,3.6vw,42px);font-size:.9rem}.circa-topics{font-size:1.18rem}.circa-featured{padding-inline:clamp(30px,3.4vw,44px)}.circa-featured-title{font-size:clamp(2.3rem,3.6vw,3.25rem)}.circa-issue-number{font-size:clamp(7.8rem,13vw,10rem)}}@media (max-width:980px){:root{--header-height:76px}.header-inner{gap:20px;padding-inline:24px}.circa-wordmark{font-size:2.3rem}.circa-descriptor{letter-spacing:.13em;font-size:.69rem}.circa-brand{gap:20px}.desktop-nav{display:none}.mobile-menu{margin-left:auto;display:block}.mobile-menu summary{min-width:74px;min-height:42px;color:var(--circa-ivory);font-family:var(--font-circa-interface), Arial, sans-serif;letter-spacing:.1em;text-transform:uppercase;cursor:pointer;border:1px solid #f1eeea9e;justify-content:space-between;align-items:center;gap:12px;padding:8px 10px;font-size:.75rem;list-style:none;display:flex}.mobile-menu summary::-webkit-details-marker{display:none}.mobile-menu summary:focus-visible{outline:2px solid var(--circa-red);outline-offset:3px}.menu-mark{width:15px;height:10px;position:relative}.menu-mark:before,.menu-mark:after{content:"";background:currentColor;width:15px;height:1px;transition:transform .16s,top .16s;position:absolute;left:0}.menu-mark:before{top:1px}.menu-mark:after{top:8px}.mobile-menu[open] .menu-mark:before{top:4px;transform:rotate(45deg)}.mobile-menu[open] .menu-mark:after{top:4px;transform:rotate(-45deg)}.mobile-menu nav{z-index:50;top:var(--header-height);background:var(--circa-black);color:var(--circa-ivory);border-bottom:1px solid #f1eeea40;flex-direction:column;padding:12px 24px 24px;display:flex;position:fixed;left:0;right:0}.mobile-menu nav a{font-family:var(--font-circa-editorial), Georgia, serif;border-bottom:1px solid #f1eeea33;padding:15px 0;font-size:1.7rem;display:block}.featured-layout,.index-feature{grid-template-columns:1fr}.featured-copy{border-top:1px solid var(--line)}.theme-row{grid-template-columns:1fr}.theme-row p{grid-column:1}.page-hero{grid-template-columns:1fr;align-items:start;min-height:auto}.page-count{justify-self:start}.about-hero{grid-template-columns:1fr}.about-portrait{width:min(100%,600px);min-height:600px}.portfolio-hero-grid,.contact-hero-grid{grid-template-columns:1fr}.portfolio-updated{max-width:400px}.contact-layout{grid-template-columns:1fr}.contact-sidebar{grid-template-columns:1fr 1fr;align-items:start;gap:30px;display:grid}.contact-sidebar .text-link{grid-column:1/-1;justify-self:start}.article-reading-layout{grid-template-columns:1fr}.article-toc{display:none;position:static}}@media (min-width:900px) and (max-width:1279px){.circa-headline{font-size:clamp(5.5rem,15.8cqi,7.8rem)}}@media (max-width:899px){.circa-hero{grid-template-rows:auto auto;min-height:auto}.circa-hero-grid{display:block}.circa-editorial{min-height:min(680px, calc(100svh - var(--header-height)));justify-content:center;padding:clamp(54px,9vw,82px) clamp(22px,6.5vw,48px)}.circa-headline{font-size:clamp(5rem,17.8cqi,7.5rem)}.circa-featured{border-top:1px solid var(--circa-black);border-left:0;min-height:600px;padding:54px clamp(24px,7vw,56px) 64px}.circa-issue-number{font-size:clamp(8rem,24vw,11rem)}.circa-featured-title{max-width:620px;font-size:clamp(3rem,8vw,4.5rem)}.circa-century{border-top:1px solid var(--circa-black);min-height:112px;padding-inline:clamp(22px,6.5vw,48px)}}@media (max-width:760px){.container-wide,.container-reading{width:min(100% - 32px,1440px)}.section-pad{padding-block:82px}.section-heading{grid-template-columns:1fr}.section-aside{justify-self:start}.article-grid{grid-template-columns:1fr}.article-card-body>p,.article-card h3{min-height:auto}.newsletter-section,.portfolio-chart-wrap,.allocation-section>.portfolio-chart-wrap,.portfolio-preview .portfolio-chart-wrap{grid-template-columns:1fr}.donut-chart{justify-self:center}.about-story-grid,.strategy-grid,.working-grid{grid-template-columns:1fr;gap:35px}.allocation-heading{grid-template-columns:1fr}.changelog-grid{grid-template-columns:1fr;gap:50px}.contact-sidebar{grid-template-columns:1fr}.contact-sidebar .text-link{grid-column:auto}.article-end{grid-template-columns:55px 1fr}.article-end-mark{width:52px}.article-end>.text-link{grid-column:2;justify-self:start}}@media (max-width:620px){:root{--header-height:72px}.header-inner{padding-inline:18px}.circa-wordmark{font-size:2rem}.circa-descriptor{display:none}.mobile-menu summary{min-width:70px;min-height:40px}.circa-editorial{min-height:600px;padding:54px 20px 58px}.circa-topics{letter-spacing:.13em;gap:.45em .7em;margin-bottom:24px;font-size:1.18rem}.circa-headline{letter-spacing:-.035em;font-size:clamp(4rem,18.4cqi,5.15rem);line-height:.86}.circa-headline-second{white-space:normal;display:block!important}.circa-headline-second>span:first-child{display:block}.circa-highlight{margin-top:.04em;display:inline-block}.circa-deck{max-width:330px;margin-top:22px;font-size:1rem}.circa-text-link{letter-spacing:.14em;font-size:.79rem}.circa-research-link{margin-top:24px}.circa-featured{min-height:520px;padding:46px 20px 54px}.circa-issue-number{margin-bottom:22px;font-size:clamp(7rem,31vw,8.3rem)}.circa-kicker,.circa-featured-meta{font-size:.76rem}.circa-featured-rule{margin-block:18px 28px}.circa-featured-title{max-width:340px;font-size:clamp(2.55rem,12vw,3.25rem)}.circa-featured-meta{margin-top:32px}.circa-featured-link{margin-top:38px}.circa-century{min-height:104px;padding-inline:20px}.circa-century-scale{gap:12px}.circa-year{font-size:2rem}.circa-century-tick{height:24px}.circa-century p{font-size:.75rem}.circa-category-rail{grid-template-columns:repeat(2,minmax(0,1fr))}.circa-category-rail a{letter-spacing:.14em;min-height:64px;font-size:.72rem}.circa-category-rail a:nth-child(2){border-right:0}.circa-category-rail a:nth-child(-n+2){border-bottom:1px solid #0a09096b}.featured-copy h2{margin-top:48px}.featured-footer,.index-feature-foot{flex-direction:column;align-items:stretch}.featured-footer .button,.index-feature-foot .button{justify-content:space-between}.theme-row{grid-template-columns:1fr;gap:13px}.theme-row h3{font-size:1.7rem}.theme-row p{font-size:.9rem}.theme-row:hover{padding-inline:10px}.portfolio-actions{flex-direction:column;align-items:flex-start}.portfolio-chart-wrap{gap:45px}.newsletter-form{grid-template-columns:1fr}.newsletter-form button{justify-content:space-between}.newsletter-form small,.newsletter-form .form-status{grid-column:auto}.page-hero{gap:35px;padding-top:80px}.article-tools{flex-direction:column;align-items:stretch}.search-box{min-width:0}.about-portrait{min-height:470px}.about-actions{flex-direction:column;align-items:stretch}.about-actions .button{justify-content:space-between}.interest-grid{grid-template-columns:1fr}.interest-grid article{border-right:0;border-bottom:1px solid var(--line)}.portfolio-disclaimer{grid-template-columns:1fr;gap:12px}.form-row{grid-template-columns:1fr}.contact-form-panel{padding:28px 20px}.contact-submit-row{flex-direction:column;align-items:stretch}.article-header{padding-top:75px}.back-link{margin-bottom:50px}.article-header h1{font-size:clamp(3.4rem,15vw,5.2rem)}.article-header-meta{gap:12px}.article-header-meta span+span:before{margin-right:12px}.author-row{grid-template-columns:42px 1fr}.author-row>.share-actions{grid-column:1/-1;margin-top:10px}.article-hero-visual .article-visual{min-height:360px}.hero-visual-caption{flex-direction:column;align-items:flex-start;gap:5px}.article-stat{grid-template-columns:1fr;padding:30px}.inline-chart{padding:25px 18px}.inline-chart-bars>div{grid-template-columns:90px 1fr 22px;gap:7px}.article-prose blockquote{padding-left:42px}.article-end{grid-template-columns:1fr}.article-end>.text-link{grid-column:auto}.changelog-list li{grid-template-columns:30px 1fr}.changelog-list time{grid-area:1/2}.changelog-list li>div{grid-column:2}}.res-page{background-color:var(--circa-ivory);color:var(--circa-black);font-family:var(--font-circa-interface), Arial, sans-serif;background-image:url(/circa-paper-grain.png);background-repeat:repeat;background-size:96px 96px}.res-page :focus-visible{outline:2px solid var(--circa-black);outline-offset:5px}.res-hero{border-bottom:1px solid var(--circa-black)}.res-hero-grid{grid-template-columns:minmax(0,1fr) auto;align-items:end;gap:clamp(28px,4vw,72px);padding:clamp(48px,7vh,96px) clamp(28px,4.5vw,84px) clamp(40px,5.5vh,72px);display:grid}.res-kicker{letter-spacing:.24em;text-transform:uppercase;margin:0 0 clamp(18px,2.4vh,28px);font-size:.9rem;font-weight:600;line-height:1.35}.res-headline{font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.035em;-webkit-user-select:none;user-select:none;margin:0;font-size:clamp(3.1rem,8.2vw,7.4rem);font-weight:500;line-height:.86}.res-headline>span{display:block}.res-headline-second{white-space:nowrap;align-items:baseline;gap:.14em;display:flex}.res-deck{margin:clamp(20px,2.5vh,30px) 0 0;font-size:clamp(1rem,1.35vw,1.27rem);line-height:1.45}.res-count{text-align:right;flex-direction:column;align-items:flex-end;gap:12px;display:flex}.res-count-number{color:#0000;font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.025em;-webkit-text-stroke:.011em var(--circa-black);-webkit-user-select:none;user-select:none;font-size:clamp(5rem,9vw,8.5rem);font-weight:500;line-height:.82}.res-count-label{letter-spacing:.22em;text-transform:uppercase;font-size:.78rem;font-weight:600}.res-filter{border-bottom:1px solid var(--circa-black);grid-template-columns:repeat(5,minmax(0,1fr));display:grid}.res-filter-cell{border:0;border-right:1px solid var(--circa-black);min-height:clamp(64px,7.5vh,84px);color:var(--circa-black);letter-spacing:.18em;text-transform:uppercase;cursor:pointer;background:0 0;justify-content:center;align-items:center;gap:10px;padding:10px 12px;font-family:inherit;font-size:.8rem;font-weight:600;transition:background-color .22s,color .22s;display:flex}.res-filter-cell:last-child{border-right:0}.res-filter-count{color:var(--circa-red);letter-spacing:.08em;font-size:.68rem;transform:translateY(-.5em)}.res-filter-cell.is-active{background:var(--circa-black);color:var(--circa-ivory)}.res-index{padding-bottom:clamp(72px,10vh,132px)}.res-grid{grid-template-columns:repeat(4,minmax(0,1fr));gap:clamp(12px,1.1vw,18px);padding:clamp(28px,4vh,48px) clamp(28px,4.5vw,84px) 0;display:grid}.res-card{border:1px solid var(--circa-black);background:var(--circa-ivory);flex-direction:column;min-width:0;transition:border-color .22s;display:flex}.res-card-panel{aspect-ratio:648/486;border-bottom:1px solid var(--circa-black);position:relative;overflow:hidden}.res-card-art{background-image:repeating-linear-gradient(45deg,#19161514 0 1px,#0000 1px 14px);place-items:center;display:grid;position:absolute;inset:0}.res-card-image{object-fit:cover;width:100%;height:100%;display:block}.res-card-art-label{background:var(--circa-ivory);color:#1916159e;letter-spacing:.2em;text-transform:uppercase;border:1px solid #19161566;padding:8px 14px;font-size:.68rem;font-weight:600}.res-card-body{flex-direction:column;flex:1;padding:clamp(22px,2.2vw,30px) clamp(20px,2vw,28px) clamp(24px,2.4vw,32px);display:flex}.res-card-meta{align-items:center;gap:clamp(12px,1.3vw,18px);margin:0 0 clamp(16px,2.2vh,24px);display:flex}.res-card-number{color:var(--circa-red);font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.01em;-webkit-user-select:none;user-select:none;font-size:clamp(1.9rem,2.1vw,2.4rem);font-weight:600;line-height:.9}.res-card-category,.res-card-date{letter-spacing:.16em;text-transform:uppercase;font-size:.72rem;font-weight:600;line-height:1.3}.res-card-category{color:var(--circa-red)}.res-card-date{color:#191615a8}.res-card-separator{background:#1916158c;flex:none;width:1px;height:14px}.res-card-title{font-family:var(--font-circa-editorial), Georgia, serif;letter-spacing:-.015em;margin:0;font-size:clamp(1.5rem,1.6vw,1.85rem);font-weight:500;line-height:1.12}.res-card-title a{transition:color .22s}.res-card-excerpt{font-family:var(--font-circa-editorial), Georgia, serif;color:#191615c7;margin:clamp(12px,1.6vh,18px) 0 clamp(26px,3.4vh,40px);font-size:clamp(.98rem,1.05vw,1.1rem);line-height:1.5}.res-card-foot{letter-spacing:.16em;text-transform:uppercase;border-top:1px solid #19161559;justify-content:space-between;align-items:center;gap:14px;margin:auto 0 0;padding-top:14px;font-size:.74rem;font-weight:600;line-height:1;display:flex}.res-card-time{color:#191615a8}.res-card-link{align-items:center;gap:10px;transition:color .22s;display:inline-flex}.res-card-link span{transition:transform .22s cubic-bezier(.22,1,.36,1)}.res-empty{padding:clamp(56px,9vh,110px) clamp(28px,4.5vw,84px) 0}.res-empty-mark{color:#0000;font-family:var(--font-circa-display), Impact, sans-serif;-webkit-text-stroke:.011em #19161573;-webkit-user-select:none;user-select:none;margin:0 0 clamp(14px,2vh,22px);font-size:clamp(4.5rem,8vw,7.5rem);font-weight:500;line-height:.82}.res-empty-title{font-family:var(--font-circa-editorial), Georgia, serif;margin:0;font-size:clamp(1.6rem,2.4vw,2.3rem);line-height:1.1}.res-empty-text{color:#191615b8;max-width:44ch;margin:clamp(12px,1.6vh,18px) 0 0;font-size:clamp(.98rem,1.1vw,1.15rem);line-height:1.5}.res-cursor{width:96px;height:96px;font-size:.74rem}.res-grid .res-card{animation:.42s cubic-bezier(.22,1,.36,1) backwards res-card-in;animation-delay:calc(var(--card-index,0) * 55ms)}@keyframes res-card-in{0%{opacity:0;transform:translateY(14px)}to{opacity:1;transform:none}}@media (hover:hover) and (pointer:fine){.res-card.is-cursor-active,.res-card.is-cursor-active a{cursor:none}.res-filter-cell:not(.is-active):hover{color:var(--circa-red)}.res-card:hover{border-color:var(--circa-red)}.res-card-art{transition:transform .7s cubic-bezier(.22,1,.36,1)}.res-card:hover .res-card-art{transform:scale(1.045)}.res-card:hover .res-card-title a,.res-card:hover .res-card-link{color:var(--circa-red)}.res-card:hover .res-card-link span{transform:translate(4px)}}@media (prefers-reduced-motion:reduce){.res-grid .res-card{animation:none}.res-filter-cell,.res-card,.res-card-art,.res-card-title a,.res-card-link,.res-card-link span{transition:none}.res-card:hover .res-card-art{transform:none}}@media (max-width:980px){.res-hero-grid{grid-template-columns:minmax(0,1fr);align-items:start}.res-count{text-align:left;flex-direction:row;align-items:baseline;gap:16px}.res-count-number{font-size:clamp(3.6rem,10vw,5rem)}}@media (max-width:1320px){.res-grid{grid-template-columns:repeat(3,minmax(0,1fr))}}@media (max-width:1020px){.res-grid{grid-template-columns:repeat(2,minmax(0,1fr))}}@media (max-width:900px){.res-filter{grid-template-columns:repeat(2,minmax(0,1fr))}.res-filter-cell{border-bottom:1px solid var(--circa-black)}.res-filter-cell:nth-child(2n){border-right:0}.res-filter-cell:last-child{border-bottom:0;border-right:0;grid-column:1/-1}}@media (max-width:760px){.res-hero-grid{padding-inline:20px}.res-headline{font-size:clamp(2.7rem,13.5vw,3.4rem)}.res-grid{grid-template-columns:minmax(0,1fr);gap:14px;padding-inline:20px}.res-card-title{font-size:clamp(1.5rem,6vw,1.8rem)}.res-empty{padding-inline:20px}.res-filter-cell{letter-spacing:.14em;min-height:60px;font-size:.72rem}}.port-disclaimer{border-bottom:1px solid var(--circa-black);letter-spacing:.2em;text-transform:uppercase;color:#191615b8;margin:0;padding:16px clamp(28px,4.5vw,84px);font-size:.74rem;font-weight:600;line-height:1.6}.port-eyebrow{letter-spacing:.24em;text-transform:uppercase;margin:0 0 clamp(18px,2.6vh,30px);font-size:.9rem;font-weight:600}.port-heading{font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.03em;margin:0;font-size:clamp(2.3rem,4.2vw,3.6rem);font-weight:500;line-height:.9}.port-thesis{border-bottom:1px solid var(--circa-black);padding:clamp(48px,7vh,92px) clamp(28px,4.5vw,84px)}.port-thesis-line{max-width:26ch;font-family:var(--font-circa-editorial), Georgia, serif;letter-spacing:-.02em;margin:0;font-size:clamp(1.7rem,2.9vw,2.7rem);font-weight:400;line-height:1.18}.port-thesis-link{border-color:var(--circa-red);margin-top:clamp(26px,3.6vh,40px)}.port-holdings,.port-cases,.port-log-section{border-bottom:1px solid var(--circa-black);padding:clamp(48px,7vh,92px) clamp(28px,4.5vw,84px)}.port-log-section{border-bottom:0;padding-bottom:clamp(72px,10vh,132px)}.port-section-head{flex-wrap:wrap;justify-content:space-between;align-items:flex-end;gap:clamp(24px,3vw,56px);margin-bottom:clamp(32px,4.6vh,56px);display:flex}.port-stats{gap:clamp(28px,3.6vw,64px);margin:0;display:flex}.port-stat dt{letter-spacing:.2em;text-transform:uppercase;color:#191615a8;font-size:.74rem;font-weight:600}.port-stat dd{font-family:var(--font-circa-display), Impact, sans-serif;font-variant-numeric:tabular-nums;margin:8px 0 0;font-size:clamp(1.7rem,2.2vw,2.3rem);font-weight:500;line-height:.9}.port-table-wrap{border:1px solid var(--circa-black);background:var(--circa-ivory);overflow-x:auto}.port-table{border-collapse:collapse;font-variant-numeric:tabular-nums;width:100%;min-width:860px}.port-table thead th{border-bottom:1px solid var(--circa-black);letter-spacing:.18em;text-transform:uppercase;text-align:left;color:#191615b8;padding:16px 18px;font-size:.72rem;font-weight:600}.port-table tbody tr:not(:last-child) th,.port-table tbody tr:not(:last-child) td{border-bottom:1px solid #19161559}.port-table tbody th,.port-table tbody td{text-align:left;vertical-align:baseline;padding:18px}.port-table .is-num{text-align:right;white-space:nowrap}.port-idx{color:var(--circa-red);font-family:var(--font-circa-display), Impact, sans-serif;font-size:1.2rem;font-weight:600}.port-name a{font-family:var(--font-circa-editorial), Georgia, serif;letter-spacing:-.01em;font-size:clamp(1.1rem,1.25vw,1.3rem);font-weight:500;transition:color .18s}.port-name small{font-family:var(--font-circa-interface), Arial, sans-serif;letter-spacing:.18em;text-transform:uppercase;color:#1916158c;margin-top:5px;font-size:.68rem;font-weight:600;display:block}.port-theme{letter-spacing:.12em;text-transform:uppercase;color:#191615a8;font-size:.78rem;font-weight:600}.port-table .is-loss,.port-stat dd.is-loss{color:var(--circa-red)}.port-table .is-pending th,.port-table .is-pending td{color:#19161580}.port-opening{letter-spacing:.16em;text-transform:uppercase;color:var(--circa-red);font-size:.72rem;font-weight:600}@media (hover:hover) and (pointer:fine){.port-name a:hover{color:var(--circa-red)}}.port-case-grid{grid-template-columns:repeat(2,minmax(0,1fr));gap:clamp(28px,3.2vw,56px) clamp(32px,4vw,72px);display:grid}.port-case{border-top:1px solid var(--circa-black);scroll-margin-top:calc(var(--header-height) + 28px);padding-top:clamp(20px,2.6vh,28px)}.port-case-meta{align-items:center;gap:14px;margin:0 0 clamp(14px,2vh,20px);display:flex}.port-case-number{color:var(--circa-red);font-family:var(--font-circa-display), Impact, sans-serif;font-size:1.5rem;font-weight:600;line-height:.9}.port-case-ticker,.port-case-theme{letter-spacing:.18em;text-transform:uppercase;font-size:.72rem;font-weight:600}.port-case-theme{color:#19161599}.port-case-sep{background:#19161580;flex:none;width:1px;height:13px}.port-case-title{font-family:var(--font-circa-editorial), Georgia, serif;letter-spacing:-.015em;margin:0;font-size:clamp(1.4rem,1.7vw,1.75rem);font-weight:500;line-height:1.1}.port-case-text{max-width:52ch;font-family:var(--font-circa-editorial), Georgia, serif;color:#191615d1;margin:clamp(10px,1.5vh,16px) 0 0;font-size:clamp(1rem,1.1vw,1.12rem);line-height:1.55}.port-log{margin:0;padding:0;list-style:none}.port-log li{border-top:1px solid #19161559;grid-template-columns:clamp(150px,16vw,220px) minmax(0,1fr);gap:clamp(20px,2.6vw,44px);padding:clamp(22px,3vh,32px) 0;display:grid}.port-log li:first-child{border-top:1px solid var(--circa-black)}.port-log time{letter-spacing:.18em;text-transform:uppercase;color:#191615a8;font-size:.78rem;font-weight:600}.port-log strong{font-family:var(--font-circa-editorial), Georgia, serif;letter-spacing:-.01em;font-size:clamp(1.2rem,1.4vw,1.45rem);font-weight:500;display:block}.port-log p{color:#191615c7;max-width:66ch;margin:8px 0 0;font-size:clamp(.95rem,1.05vw,1.05rem);line-height:1.55}@media (max-width:900px){.port-case-grid{grid-template-columns:minmax(0,1fr)}.port-stats{flex-wrap:wrap;gap:24px 36px}}@media (max-width:760px){.port-disclaimer,.port-thesis,.port-holdings,.port-cases,.port-log-section{padding-inline:20px}.port-log li{grid-template-columns:minmax(0,1fr);gap:8px}}.ab-section{border-bottom:1px solid var(--circa-black);padding:clamp(48px,7vh,92px) clamp(28px,4.5vw,84px)}.ab-section:last-child{border-bottom:0;padding-bottom:clamp(72px,10vh,132px)}.ab-section-grid{grid-template-columns:minmax(0,4fr) minmax(0,6fr);align-items:start;gap:clamp(32px,4.5vw,88px);display:grid}.ab-prose p{max-width:58ch;font-family:var(--font-circa-editorial), Georgia, serif;margin:0 0 clamp(16px,2.2vh,24px);font-size:clamp(1.08rem,1.3vw,1.3rem);line-height:1.6}.ab-prose p:last-of-type{margin-bottom:0}.ab-facts{border-top:1px solid var(--circa-black);margin-top:clamp(30px,4.2vh,48px);padding-top:clamp(22px,3vh,30px)}.ab-writer{grid-template-columns:minmax(200px,280px) minmax(0,1fr);align-items:start;gap:clamp(28px,3.4vw,56px);display:grid}.ab-portrait{aspect-ratio:4/5;border:1px solid var(--circa-black);background-image:repeating-linear-gradient(45deg,#19161514 0 1px,#0000 1px 14px);place-items:center;display:grid;position:relative}.ab-portrait-label{background:var(--circa-ivory);color:#1916159e;letter-spacing:.2em;text-transform:uppercase;text-align:center;border:1px solid #19161566;padding:8px 14px;font-size:.68rem;font-weight:600}.ab-links{flex-wrap:wrap;gap:18px 40px;margin-top:clamp(26px,3.6vh,40px);display:flex}.ab-link{border-color:var(--circa-red)}.ab-principle-grid{grid-template-columns:repeat(3,minmax(0,1fr));gap:clamp(24px,3vw,48px);margin:clamp(32px,4.6vh,56px) 0 0;padding:0;list-style:none;display:grid}.ab-principle{border-top:1px solid var(--circa-black);padding-top:clamp(18px,2.4vh,26px)}.ab-principle-number{color:var(--circa-red);font-family:var(--font-circa-display), Impact, sans-serif;font-size:clamp(1.7rem,2vw,2.2rem);font-weight:600;line-height:.9}.ab-principle-title{letter-spacing:.2em;text-transform:uppercase;margin:clamp(12px,1.8vh,18px) 0 0;font-size:.92rem;font-weight:600}.ab-principle-title span{color:var(--circa-red)}.ab-principle-desc{max-width:34ch;font-family:var(--font-circa-editorial), Georgia, serif;color:#191615d1;margin:clamp(10px,1.5vh,14px) 0 0;font-size:clamp(.98rem,1.1vw,1.12rem);line-height:1.5}.ab-contact-line{max-width:30ch;font-family:var(--font-circa-editorial), Georgia, serif;letter-spacing:-.02em;margin:0;font-size:clamp(1.7rem,2.9vw,2.7rem);font-weight:400;line-height:1.18}.ab-email{border-bottom:2px solid var(--circa-red);font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.01em;margin-top:clamp(26px,3.6vh,40px);padding-bottom:8px;font-size:clamp(1.5rem,3vw,2.6rem);font-weight:500;transition:color .18s;display:inline-block}@media (hover:hover) and (pointer:fine){.ab-email:hover{color:var(--circa-red)}}@media (max-width:980px){.ab-section-grid,.ab-principle-grid{grid-template-columns:minmax(0,1fr)}}@media (max-width:760px){.ab-section{padding-inline:20px}.ab-writer{grid-template-columns:minmax(0,1fr)}.ab-portrait{max-width:280px}}.port-alloc{border-bottom:1px solid var(--circa-black);padding:clamp(48px,7vh,92px) clamp(28px,4.5vw,84px)}.port-alloc-note{letter-spacing:.16em;text-transform:uppercase;color:#191615a8;max-width:30ch;margin:0;font-size:.82rem;font-weight:600;line-height:1.6}.port-alloc-grid{grid-template-columns:minmax(280px,5fr) minmax(0,7fr);align-items:center;gap:clamp(36px,4.5vw,88px);display:grid}.port-alloc-figure{max-width:460px;position:relative}.port-alloc-donut{width:100%;height:auto;display:block}.port-alloc-slice{stroke:var(--circa-ivory);stroke-width:2px;stroke-linejoin:round;cursor:pointer;transition:opacity .16s}.port-alloc-slice.is-dim{opacity:.3}.port-alloc-center{pointer-events:none;text-align:center;flex-direction:column;justify-content:center;align-items:center;gap:6px;display:flex;position:absolute;inset:0}.port-alloc-center-value{font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.02em;font-size:clamp(2.6rem,3.4vw,3.6rem);font-weight:600;line-height:.9}.port-alloc-center-label{letter-spacing:.22em;text-transform:uppercase;color:#191615a8;font-size:.74rem;font-weight:600}.port-alloc-legend{grid-template-columns:repeat(2,minmax(0,1fr));align-content:start;gap:clamp(22px,2.8vh,34px) clamp(28px,3vw,52px);display:grid}.port-alloc-group-head{border-bottom:1px solid var(--circa-black);letter-spacing:.16em;text-transform:uppercase;align-items:center;gap:12px;margin:0 0 10px;padding-bottom:9px;font-size:.74rem;font-weight:600;display:flex}.port-alloc-swatch{flex:none;width:11px;height:11px}.port-alloc-group-name{flex:auto}.port-alloc-group-total{color:var(--circa-red)}.port-alloc-list{margin:0;padding:0;list-style:none}.port-alloc-list a{font-family:var(--font-circa-editorial), Georgia, serif;color:#191615d1;justify-content:space-between;align-items:baseline;gap:14px;padding:5px 0;font-size:clamp(.98rem,1.05vw,1.08rem);line-height:1.4;transition:color .16s;display:flex}.port-alloc-item-target{font-family:var(--font-circa-interface), Arial, sans-serif;letter-spacing:.08em;font-variant-numeric:tabular-nums;color:#19161599;font-size:.78rem;font-weight:600}.port-alloc-list a.is-hot,.port-alloc-list a.is-hot .port-alloc-item-target{color:var(--circa-red)}@media (hover:hover) and (pointer:fine){.port-alloc-list a:hover,.port-alloc-list a:hover .port-alloc-item-target{color:var(--circa-red)}}@media (prefers-reduced-motion:reduce){.port-alloc-slice,.port-alloc-list a{transition:none}}@media (max-width:1020px){.port-alloc-grid{grid-template-columns:minmax(0,1fr);align-items:start}.port-alloc-figure{margin-inline:auto}}@media (max-width:760px){.port-alloc{padding-inline:20px}.port-alloc-legend{grid-template-columns:minmax(0,1fr)}}.port-hlist-hint{letter-spacing:.18em;text-transform:uppercase;color:#19161599;margin:0 0 14px;font-size:.74rem;font-weight:600}.port-hlist{border-top:1px solid var(--circa-black)}.port-hrow{scroll-margin-top:calc(var(--header-height) + 24px);border-bottom:1px solid #19161559}.port-hrow-btn{width:100%;color:inherit;text-align:left;cursor:pointer;background:0 0;border:0;grid-template-columns:52px minmax(0,2.4fr) minmax(0,1.5fr) repeat(4,minmax(0,1fr)) 40px;align-items:center;gap:clamp(10px,1.4vw,24px);padding:clamp(16px,2.2vh,22px) 4px;font-family:inherit;display:grid}.port-hrow-name{font-family:var(--font-circa-editorial), Georgia, serif;letter-spacing:-.01em;font-size:clamp(1.05rem,1.2vw,1.25rem);font-weight:500;line-height:1.2;transition:color .16s}.port-hrow-name small{font-family:var(--font-circa-interface), Arial, sans-serif;letter-spacing:.18em;text-transform:uppercase;color:#1916158c;margin-top:4px;font-size:.66rem;font-weight:600;display:block}.port-hrow-theme{letter-spacing:.12em;text-transform:uppercase;color:#191615a8;font-size:.74rem;font-weight:600}.port-hrow-num{font-variant-numeric:tabular-nums;text-align:right;white-space:nowrap;font-size:.92rem}.port-hrow-num.is-loss{color:var(--circa-red)}.port-hrow.is-pending .port-hrow-btn{color:#19161580}.port-hrow-toggle{border:1px solid var(--circa-black);border-radius:50%;justify-self:end;width:30px;height:30px;position:relative}.port-hrow-toggle:before,.port-hrow-toggle:after{content:"";background:var(--circa-black);transition:transform .3s cubic-bezier(.22,1,.36,1);position:absolute;top:50%;left:50%}.port-hrow-toggle:before{width:12px;height:1.5px;transform:translate(-50%,-50%)}.port-hrow-toggle:after{width:1.5px;height:12px;transform:translate(-50%,-50%)}.port-hrow.is-open .port-hrow-toggle:after{transform:translate(-50%,-50%)rotate(90deg)}.port-hrow.is-open .port-hrow-toggle:before,.port-hrow.is-open .port-hrow-toggle:after{background:var(--circa-red)}.port-hrow.is-open .port-hrow-toggle{border-color:var(--circa-red)}.port-hrow-panel{grid-template-rows:0fr;transition:grid-template-rows .38s cubic-bezier(.22,1,.36,1);display:grid}.port-hrow.is-open .port-hrow-panel{grid-template-rows:1fr}.port-hrow-panel-inner{min-height:0;padding-left:calc(52px + clamp(10px,1.4vw,24px));overflow:hidden}.port-hrow.is-open .port-hrow-panel-inner{padding-bottom:clamp(26px,3.6vh,40px)}.port-hrow-case-label{letter-spacing:.2em;text-transform:uppercase;color:var(--circa-red);margin:6px 0 clamp(12px,1.8vh,18px);font-size:.72rem;font-weight:600}.port-hrow-case-text{max-width:66ch;font-family:var(--font-circa-editorial), Georgia, serif;color:#191615d9;margin:0 0 clamp(12px,1.8vh,18px);font-size:clamp(1.02rem,1.15vw,1.18rem);line-height:1.6}.port-hrow-case-text:last-child{margin-bottom:0}@media (hover:hover) and (pointer:fine){.port-hrow-btn:hover .port-hrow-name{color:var(--circa-red)}}@media (prefers-reduced-motion:reduce){.port-hrow-panel,.port-hrow-toggle:before,.port-hrow-toggle:after,.port-hrow-name{transition:none}}@media (max-width:1020px){.port-hrow-btn{grid-template-columns:44px minmax(0,2.4fr) repeat(4,minmax(0,1fr)) 36px}.port-hide-md{display:none}.port-hrow-toggle{width:26px;height:26px}}@media (max-width:760px){.port-hrow-btn{grid-template-columns:36px minmax(0,2fr) minmax(0,.9fr) minmax(0,1.1fr) 30px;gap:10px}.port-hide-sm{display:none}.port-hrow-panel-inner{padding-left:0}.port-hrow-toggle{width:24px;height:24px}}.art-container{max-width:920px;margin-inline:auto;padding:clamp(48px,7vh,96px) clamp(20px,4vw,48px) clamp(72px,10vh,132px)}.art-meta{letter-spacing:.2em;text-transform:uppercase;color:#191615a8;flex-wrap:wrap;align-items:center;gap:8px 14px;margin:0 0 clamp(24px,3.4vh,36px);font-size:.76rem;font-weight:600;display:flex}.art-meta-number,.art-meta-category{color:var(--circa-red)}.art-title{max-width:18ch;font-family:var(--font-circa-editorial), Georgia, serif;letter-spacing:-.03em;margin:0;font-size:clamp(2.7rem,5.6vw,4.7rem);font-weight:500;line-height:1}.art-standfirst{max-width:52ch;font-family:var(--font-circa-editorial), Georgia, serif;color:#191615bf;margin:clamp(20px,3vh,30px) 0 0;font-size:clamp(1.2rem,1.7vw,1.5rem);line-height:1.45}.art-figure{border:1px solid var(--circa-black);margin:clamp(36px,5vh,56px) 0 0}.art-figure img{width:100%;height:auto;display:block}.art-body{max-width:68ch;margin-top:clamp(40px,5.6vh,64px)}.art-p{font-family:var(--font-circa-editorial), Georgia, serif;margin:0 0 1.5em;font-size:clamp(1.08rem,1.3vw,1.24rem);line-height:1.72}.art-h{font-family:var(--font-circa-editorial), Georgia, serif;letter-spacing:-.015em;margin:2.2em 0 .9em;font-size:clamp(1.45rem,1.9vw,1.8rem);font-weight:500;line-height:1.15}.art-quote{border-top:1px solid var(--circa-black);border-bottom:1px solid var(--circa-black);margin:clamp(36px,5vh,52px) 0;padding:clamp(22px,3vh,32px) 0}.art-quote p{font-family:var(--font-circa-editorial), Georgia, serif;letter-spacing:-.01em;margin:0;font-size:clamp(1.4rem,2.2vw,1.85rem);font-style:italic;line-height:1.4}.art-quote cite{font-family:var(--font-circa-interface), Arial, sans-serif;letter-spacing:.2em;text-transform:uppercase;color:var(--circa-red);margin-top:14px;font-size:.76rem;font-style:normal;font-weight:600;display:block}.art-note{border:1px solid #19161559;margin:2em 0;padding:18px 20px}.art-note strong{letter-spacing:.18em;text-transform:uppercase;margin-bottom:8px;font-size:.78rem;font-weight:600;display:block}.art-note p{font-family:var(--font-circa-editorial), Georgia, serif;margin:0;line-height:1.6}.art-footnotes{color:#191615b3;border-top:1px solid #19161559;margin:2.4em 0 0;padding:1.4em 0 0 1.2em;font-size:.9rem;line-height:1.6}.art-foot{border-top:1px solid var(--circa-black);margin-top:clamp(56px,8vh,88px);padding-top:clamp(26px,3.6vh,36px)}.art-foot-byline{letter-spacing:.2em;text-transform:uppercase;color:#191615a8;margin:0 0 clamp(24px,3.4vh,34px);font-size:.78rem;font-weight:600}.art-foot-links{flex-wrap:wrap;justify-content:space-between;gap:18px 40px;display:flex}@media (max-width:640px){.art-title{font-size:clamp(2.3rem,10vw,2.9rem)}}.port-doc{border:1px solid var(--circa-black);background:var(--circa-ivory);align-items:center;gap:clamp(16px,2vw,24px);width:min(560px,100%);margin-top:8px;padding:clamp(16px,2.2vh,22px) clamp(16px,2vw,24px);transition:border-color .2s;display:flex}.port-doc-icon{width:34px;height:34px;color:var(--circa-red);flex:none}.port-doc-icon svg{fill:none;stroke:currentColor;stroke-width:1.4px;stroke-linecap:round;stroke-linejoin:round;width:100%;height:100%}.port-doc-body{flex:auto;min-width:0}.port-doc-kicker{letter-spacing:.24em;text-transform:uppercase;color:#1916158c;font-size:.64rem;font-weight:600;display:block}.port-doc-title{font-family:var(--font-circa-editorial), Georgia, serif;letter-spacing:-.01em;margin-top:5px;font-size:clamp(1.02rem,1.15vw,1.15rem);font-weight:500;line-height:1.3;transition:color .16s;display:block}.port-doc-meta{letter-spacing:.16em;text-transform:uppercase;color:#19161599;margin-top:6px;font-size:.68rem;font-weight:600;display:block}.port-doc-open{letter-spacing:.18em;text-transform:uppercase;flex:none;align-items:center;gap:8px;font-size:.74rem;font-weight:600;transition:color .16s;display:inline-flex}.port-doc-open span{transition:transform .22s cubic-bezier(.22,1,.36,1)}@media (hover:hover) and (pointer:fine){.port-doc:hover{border-color:var(--circa-red)}.port-doc:hover .port-doc-title,.port-doc:hover .port-doc-open{color:var(--circa-red)}.port-doc:hover .port-doc-open span{transform:translate(4px)}}@media (prefers-reduced-motion:reduce){.port-doc,.port-doc-title,.port-doc-open,.port-doc-open span{transition:none}}@media (max-width:640px){.port-doc{flex-wrap:wrap}.port-doc-open{margin-left:50px}}.report-stats{border-top:1px solid var(--circa-black);border-bottom:1px solid var(--circa-black);flex-wrap:wrap;margin-top:clamp(32px,4.6vh,48px);padding:clamp(20px,2.8vh,28px) 0}.report-soon{border-bottom:1px solid var(--circa-black);text-align:center;margin-top:clamp(40px,6vh,72px);padding:clamp(40px,7vh,80px) 0}.report-soon-label{letter-spacing:.26em;text-transform:uppercase;color:#1916158c;margin:0;font-size:.74rem;font-weight:600}.report-soon-text{font-family:var(--font-circa-display), Impact, sans-serif;letter-spacing:-.02em;color:var(--circa-red);margin:clamp(14px,2vh,20px) 0 0;font-size:clamp(2.2rem,4.4vw,3.4rem);font-weight:500;line-height:.95}.report-body{margin-top:clamp(28px,4vh,44px)}.report-list{border-left:2px solid var(--circa-red);background:#19161508;margin:clamp(22px,3vh,32px) 0;padding:clamp(20px,2.6vh,28px) clamp(20px,2.4vw,30px)}.report-list-title{letter-spacing:.2em;text-transform:uppercase;color:#1916159e;margin:0 0 14px;font-size:.72rem;font-weight:600}.report-list ul{flex-direction:column;gap:12px;margin:0;padding:0;list-style:none;display:flex}.report-list li{font-family:var(--font-circa-editorial), Georgia, serif;padding-left:22px;font-size:clamp(1rem,1.12vw,1.12rem);line-height:1.55;position:relative}.report-list li:before{content:"";background:var(--circa-red);width:9px;height:1px;position:absolute;top:.62em;left:0}.report-figures{border-top:1px solid var(--circa-black);border-bottom:1px solid var(--circa-black);grid-template-columns:repeat(auto-fit,minmax(150px,1fr));gap:clamp(18px,2.4vw,32px);margin:clamp(26px,3.4vh,38px) 0;padding:clamp(20px,2.6vh,28px) 0;display:grid}.report-figure dt{letter-spacing:.18em;text-transform:uppercase;color:#1916159e;font-size:.7rem;font-weight:600}.report-figure dd{font-family:var(--font-circa-display), Impact, sans-serif;font-variant-numeric:tabular-nums;margin:9px 0 0;font-size:clamp(1.6rem,2.1vw,2.1rem);font-weight:500;line-height:.95}.report-figure-asof{letter-spacing:.14em;text-transform:uppercase;color:#19161580;margin:7px 0 0;font-size:.66rem;font-weight:600}@media (pointer:coarse){.circa-text-link,.footer-col-links a,.port-alloc-list a,.ab-link{position:relative}.circa-text-link:after,.footer-col-links a:after,.port-alloc-list a:after,.ab-link:after{content:"";position:absolute;inset:-12px 0}}.port-hrow-mstats{display:none}@media (max-width:760px){.port-hrow-mstats{letter-spacing:.08em;text-transform:uppercase;font-variant-numeric:tabular-nums;color:#191615b8;flex-wrap:wrap;align-items:baseline;gap:6px 10px;margin:4px 0 14px;font-size:.76rem;font-weight:600;display:flex}.port-hrow-mstats .is-loss{color:var(--circa-red)}.circa-topics{letter-spacing:.18em;grid-template-columns:repeat(2,auto);justify-content:start;gap:8px 28px;font-size:.8rem;display:grid}.circa-topics span[aria-hidden]{display:none}}@media (max-width:640px){.port-stats{grid-template-columns:repeat(2,minmax(0,1fr));gap:20px 16px;display:grid}.art-foot-links{flex-direction:column;align-items:flex-start;gap:22px}}@property --tw-rotate-x{syntax:"*";inherits:false}@property --tw-rotate-y{syntax:"*";inherits:false}@property --tw-rotate-z{syntax:"*";inherits:false}@property --tw-skew-x{syntax:"*";inherits:false}@property --tw-skew-y{syntax:"*";inherits:false}@property --tw-border-style{syntax:"*";inherits:false;initial-value:solid}@property --tw-shadow{syntax:"*";inherits:false;initial-value:0 0 #0000}@property --tw-shadow-color{syntax:"*";inherits:false}@property --tw-shadow-alpha{syntax:"<percentage>";inherits:false;initial-value:100%}@property --tw-inset-shadow{syntax:"*";inherits:false;initial-value:0 0 #0000}@property --tw-inset-shadow-color{syntax:"*";inherits:false}@property --tw-inset-shadow-alpha{syntax:"<percentage>";inherits:false;initial-value:100%}@property --tw-ring-color{syntax:"*";inherits:false}@property --tw-ring-shadow{syntax:"*";inherits:false;initial-value:0 0 #0000}@property --tw-inset-ring-color{syntax:"*";inherits:false}@property --tw-inset-ring-shadow{syntax:"*";inherits:false;initial-value:0 0 #0000}@property --tw-ring-inset{syntax:"*";inherits:false}@property --tw-ring-offset-width{syntax:"<length>";inherits:false;initial-value:0}@property --tw-ring-offset-color{syntax:"*";inherits:false;initial-value:#fff}@property --tw-ring-offset-shadow{syntax:"*";inherits:false;initial-value:0 0 #0000}@property --tw-outline-style{syntax:"*";inherits:false;initial-value:solid}@property --tw-blur{syntax:"*";inherits:false}@property --tw-brightness{syntax:"*";inherits:false}@property --tw-contrast{syntax:"*";inherits:false}@property --tw-grayscale{syntax:"*";inherits:false}@property --tw-hue-rotate{syntax:"*";inherits:false}@property --tw-invert{syntax:"*";inherits:false}@property --tw-opacity{syntax:"*";inherits:false}@property --tw-saturate{syntax:"*";inherits:false}@property --tw-sepia{syntax:"*";inherits:false}@property --tw-drop-shadow{syntax:"*";inherits:false}@property --tw-drop-shadow-color{syntax:"*";inherits:false}@property --tw-drop-shadow-alpha{syntax:"<percentage>";inherits:false;initial-value:100%}@property --tw-drop-shadow-size{syntax:"*";inherits:false}@property --tw-backdrop-blur{syntax:"*";inherits:false}@property --tw-backdrop-brightness{syntax:"*";inherits:false}@property --tw-backdrop-contrast{syntax:"*";inherits:false}@property --tw-backdrop-grayscale{syntax:"*";inherits:false}@property --tw-backdrop-hue-rotate{syntax:"*";inherits:false}@property --tw-backdrop-invert{syntax:"*";inherits:false}@property --tw-backdrop-opacity{syntax:"*";inherits:false}@property --tw-backdrop-saturate{syntax:"*";inherits:false}@property --tw-backdrop-sepia{syntax:"*";inherits:false}@property --tw-ease{syntax:"*";inherits:false}@keyframes ping{75%,to{opacity:0;transform:scale(2)}}@keyframes pulse{50%{opacity:.5}}@keyframes bounce{0%,to{animation-timing-function:cubic-bezier(.8,0,1,1);transform:translateY(-25%)}50%{animation-timing-function:cubic-bezier(0,0,.2,1);transform:none}}