/* Private Holdings — supplemental */

.ph-hero {
  background: var(--ink);
  color: var(--bone);
  padding: clamp(120px, 16vw, 200px) clamp(20px, 4vw, 56px) clamp(80px, 10vw, 140px);
  position: relative;
  overflow: hidden;
}
.ph-hero::before {
  content: "";
  position: absolute; inset: 0;
  background:
    radial-gradient(60% 80% at 80% 20%, rgba(184,164,126,0.10), transparent 60%),
    radial-gradient(50% 70% at 10% 80%, rgba(45,74,62,0.18), transparent 60%);
  pointer-events: none;
}
.ph-hero-inner {
  max-width: 1480px; margin: 0 auto;
  position: relative;
}
.ph-hero .crumbs {
  display: flex; gap: 14px; align-items: center;
  font-family: var(--mono);
  font-size: 11px; letter-spacing: 0.18em; text-transform: uppercase;
  color: rgba(245,241,234,0.7);
  margin-bottom: clamp(40px, 6vw, 80px);
}
.ph-hero .crumbs a {
  color: rgba(245,241,234,0.7);
  text-decoration: none;
  transition: color 200ms;
}
.ph-hero .crumbs a:hover { color: var(--brass-2); }
.ph-hero .crumbs .sep { color: rgba(245,241,234,0.35); }

.ph-hero h1 {
  font-family: var(--serif);
  font-weight: 300;
  font-size: clamp(56px, 8.5vw, 132px);
  line-height: 0.95;
  letter-spacing: -0.02em;
  max-width: 16ch;
}
.ph-hero h1 em { color: var(--brass-2); font-style: italic; }
.ph-hero .ph-lede {
  margin-top: clamp(32px, 4vw, 56px);
  max-width: 64ch;
  font-size: clamp(18px, 1.4vw, 22px);
  line-height: 1.55;
  color: rgba(245,241,234,0.82);
  font-weight: 300;
}
.ph-hero .ph-meta {
  margin-top: clamp(56px, 7vw, 100px);
  display: grid;
  grid-template-columns: repeat(4, 1fr);
  gap: 32px;
  border-top: 1px solid rgba(245,241,234,0.18);
  padding-top: 28px;
}
@media (max-width: 720px) {
  .ph-hero .ph-meta { grid-template-columns: repeat(2, 1fr); }
}
.ph-hero .ph-meta .label {
  font-family: var(--mono);
  font-size: 10px; letter-spacing: 0.2em; text-transform: uppercase;
  color: var(--brass-2);
  margin-bottom: 10px;
}
.ph-hero .ph-meta .value {
  font-family: var(--serif);
  font-size: 22px;
  line-height: 1.25;
  color: var(--bone);
  font-weight: 300;
}

/* Thesis */
.ph-thesis {
  background: var(--bone);
  padding: clamp(100px, 12vw, 180px) clamp(20px, 4vw, 56px);
}
.ph-thesis-inner {
  max-width: 1480px; margin: 0 auto;
  display: grid;
  grid-template-columns: 1fr 1.3fr;
  gap: clamp(40px, 6vw, 120px);
  align-items: start;
}
@media (max-width: 900px) {
  .ph-thesis-inner { grid-template-columns: 1fr; }
}
.ph-thesis h2 {
  font-family: var(--serif);
  font-weight: 300;
  font-size: clamp(40px, 5vw, 72px);
  line-height: 1.05;
  letter-spacing: -0.01em;
  max-width: 14ch;
}
.ph-thesis h2 em { color: var(--forest); font-style: italic; }
.ph-thesis-body p {
  font-family: var(--serif);
  font-weight: 300;
  font-size: clamp(20px, 1.6vw, 26px);
  line-height: 1.5;
  color: var(--ink);
  max-width: 56ch;
}
.ph-thesis-body p + p { margin-top: 28px; }
.ph-thesis-body p em { font-style: italic; color: var(--forest); }
.ph-thesis-pullquote {
  margin-top: 56px;
  padding-top: 28px;
  border-top: 1px solid var(--rule);
  font-family: var(--mono);
  font-size: 12px;
  letter-spacing: 0.16em;
  text-transform: uppercase;
  color: var(--brass);
  line-height: 1.7;
}

/* What is, what is not */
.ph-binary {
  background: var(--bone-2);
  padding: clamp(100px, 12vw, 160px) clamp(20px, 4vw, 56px);
  border-top: 1px solid var(--rule-soft);
}
.ph-binary-inner {
  max-width: 1480px; margin: 0 auto;
}
.ph-binary-head {
  display: grid; grid-template-columns: 200px 1fr; gap: clamp(24px, 4vw, 80px);
  align-items: end;
  padding-bottom: 56px;
  border-bottom: 1px solid var(--rule);
}
@media (max-width: 720px) {
  .ph-binary-head { grid-template-columns: 1fr; gap: 24px; }
}
.ph-binary-head .num {
  font-family: var(--mono);
  font-size: 11px; letter-spacing: 0.18em; text-transform: uppercase;
  color: var(--brass);
  padding-top: 10px;
  border-top: 1px solid var(--rule);
}
.ph-binary-head h2 {
  font-family: var(--serif);
  font-weight: 300;
  font-size: clamp(36px, 4vw, 56px);
  line-height: 1.05;
  letter-spacing: -0.01em;
  max-width: 18ch;
}
.ph-binary-cols {
  display: grid;
  grid-template-columns: 1fr 1fr;
  margin-top: 64px;
}
@media (max-width: 900px) {
  .ph-binary-cols { grid-template-columns: 1fr; }
}
.ph-binary-col {
  padding: 56px clamp(24px, 4vw, 64px);
}
.ph-binary-col + .ph-binary-col {
  border-left: 1px solid var(--rule);
}
@media (max-width: 900px) {
  .ph-binary-col + .ph-binary-col { border-left: none; border-top: 1px solid var(--rule); }
}
.ph-binary-col .kicker {
  font-family: var(--mono);
  font-size: 11px; letter-spacing: 0.2em; text-transform: uppercase;
  color: var(--brass);
  margin-bottom: 28px;
}
.ph-binary-col h3 {
  font-family: var(--serif);
  font-weight: 300;
  font-style: italic;
  font-size: clamp(28px, 3vw, 42px);
  line-height: 1.15;
  margin-bottom: 36px;
  max-width: 20ch;
}
.ph-binary-col h3.muted { color: var(--ink-2); opacity: 0.55; }
.ph-list {
  list-style: none;
  padding: 0;
  margin: 0;
}
.ph-list li {
  padding: 18px 0;
  border-top: 1px solid var(--rule-soft);
  font-family: var(--serif);
  font-size: 19px;
  line-height: 1.45;
  font-weight: 400;
  color: var(--ink);
  display: grid;
  grid-template-columns: 28px 1fr;
  gap: 16px;
  align-items: baseline;
}
.ph-list li:last-child { border-bottom: 1px solid var(--rule-soft); }
.ph-list .glyph {
  font-family: var(--mono);
  font-size: 11px;
  color: var(--brass);
  letter-spacing: 0.1em;
  padding-top: 4px;
}
.ph-binary-col.is-not .ph-list li { color: var(--ink-2); }
.ph-binary-col.is-not .glyph { color: var(--ink-2); opacity: 0.5; }

/* Sectors */
.ph-sectors {
  background: var(--bone);
  padding: clamp(100px, 12vw, 160px) clamp(20px, 4vw, 56px);
}
.ph-sectors-inner { max-width: 1480px; margin: 0 auto; }
.ph-sector-grid {
  display: grid;
  grid-template-columns: repeat(3, 1fr);
  gap: 1px;
  margin-top: 64px;
  background: var(--rule);
  border: 1px solid var(--rule);
}
@media (max-width: 900px) { .ph-sector-grid { grid-template-columns: repeat(2, 1fr); } }
@media (max-width: 600px) { .ph-sector-grid { grid-template-columns: 1fr; } }
.ph-sector {
  background: var(--bone);
  padding: clamp(28px, 3.5vw, 48px);
  display: flex; flex-direction: column; gap: 16px;
  min-height: 220px;
}
.ph-sector .num {
  font-family: var(--mono);
  font-size: 10px; letter-spacing: 0.2em; text-transform: uppercase;
  color: var(--brass);
}
.ph-sector h4 {
  font-family: var(--serif);
  font-weight: 300;
  font-style: italic;
  font-size: clamp(24px, 2.4vw, 32px);
  line-height: 1.15;
  letter-spacing: -0.005em;
}
.ph-sector p {
  font-size: 14px;
  line-height: 1.6;
  color: var(--ink-2);
  max-width: 38ch;
  margin-top: auto;
}

/* Horizon — typographic */
.ph-horizon {
  background: var(--ink);
  color: var(--bone);
  padding: clamp(120px, 14vw, 200px) clamp(20px, 4vw, 56px);
  overflow: hidden;
}
.ph-horizon-inner {
  max-width: 1480px; margin: 0 auto;
  display: grid;
  grid-template-columns: 1fr 1fr;
  gap: clamp(40px, 6vw, 120px);
  align-items: start;
}
@media (max-width: 900px) { .ph-horizon-inner { grid-template-columns: 1fr; } }
.ph-horizon h2 {
  font-family: var(--serif);
  font-weight: 300;
  font-size: clamp(48px, 6vw, 96px);
  line-height: 0.98;
  letter-spacing: -0.02em;
  color: var(--bone);
  max-width: 14ch;
}
.ph-horizon h2 em { color: var(--brass-2); font-style: italic; }
.ph-horizon-body {
  display: flex; flex-direction: column; gap: 28px;
}
.ph-horizon-body p {
  font-family: var(--serif);
  font-weight: 300;
  font-size: clamp(19px, 1.4vw, 22px);
  line-height: 1.6;
  color: rgba(245,241,234,0.82);
  max-width: 54ch;
}
.ph-horizon-scale {
  margin-top: 60px;
  border-top: 1px solid rgba(245,241,234,0.22);
  padding-top: 28px;
  font-family: var(--mono);
  font-size: 11px; letter-spacing: 0.2em; text-transform: uppercase;
  color: var(--brass-2);
  display: flex; gap: 32px; flex-wrap: wrap;
}
.ph-horizon-scale span { color: rgba(245,241,234,0.6); }

/* Partner — process */
.ph-partner {
  background: var(--bone);
  padding: clamp(100px, 12vw, 180px) clamp(20px, 4vw, 56px);
}
.ph-partner-inner { max-width: 1480px; margin: 0 auto; }
.ph-partner-head {
  display: grid; grid-template-columns: 200px 1fr; gap: clamp(24px, 4vw, 80px);
  align-items: end;
  padding-bottom: 56px;
  border-bottom: 1px solid var(--rule);
}
@media (max-width: 720px) { .ph-partner-head { grid-template-columns: 1fr; } }
.ph-partner-head .num {
  font-family: var(--mono);
  font-size: 11px; letter-spacing: 0.18em; text-transform: uppercase;
  color: var(--brass);
  padding-top: 10px;
  border-top: 1px solid var(--rule);
}
.ph-partner-head h2 {
  font-family: var(--serif);
  font-weight: 300;
  font-size: clamp(40px, 5vw, 72px);
  line-height: 1.05;
  letter-spacing: -0.01em;
  max-width: 18ch;
}
.ph-partner-head h2 em { color: var(--forest); font-style: italic; }
.ph-steps {
  margin-top: 80px;
  display: grid;
  gap: 0;
}
.ph-step {
  display: grid;
  grid-template-columns: 100px 200px 1fr;
  gap: clamp(20px, 3vw, 64px);
  padding: 48px 0;
  border-top: 1px solid var(--rule);
  align-items: start;
}
.ph-step:last-child { border-bottom: 1px solid var(--rule); }
@media (max-width: 800px) {
  .ph-step { grid-template-columns: 60px 1fr; }
  .ph-step .ph-step-tag { grid-column: 1 / -1; }
}
.ph-step .num {
  font-family: var(--mono);
  font-size: 11px; letter-spacing: 0.2em;
  color: var(--brass);
}
.ph-step h4 {
  font-family: var(--serif);
  font-weight: 300;
  font-style: italic;
  font-size: clamp(26px, 2.4vw, 34px);
  line-height: 1.1;
  letter-spacing: -0.005em;
}
.ph-step p {
  font-size: 16px;
  line-height: 1.65;
  color: var(--ink-2);
  max-width: 56ch;
}
.ph-step-tag {
  font-family: var(--mono);
  font-size: 10px; letter-spacing: 0.2em; text-transform: uppercase;
  color: var(--brass);
  margin-top: 24px;
}

/* Closing */
.ph-close {
  background: var(--bone-2);
  padding: clamp(100px, 14vw, 180px) clamp(20px, 4vw, 56px);
  border-top: 1px solid var(--rule-soft);
}
.ph-close-inner {
  max-width: 1100px; margin: 0 auto;
  text-align: center;
}
.ph-close .eyebrow {
  margin-bottom: 32px;
}
.ph-close p {
  font-family: var(--serif);
  font-weight: 300;
  font-style: italic;
  font-size: clamp(28px, 3.4vw, 48px);
  line-height: 1.25;
  color: var(--ink);
  max-width: 22ch;
  margin: 0 auto;
}
.ph-close .ph-close-attr {
  margin-top: 40px;
  font-family: var(--mono);
  font-size: 11px; letter-spacing: 0.2em; text-transform: uppercase;
  color: var(--brass);
}

/* Reveal animation reuse */
.ph-reveal {
  opacity: 0;
  transform: translateY(18px);
  transition: opacity 800ms cubic-bezier(.2,.8,.2,1), transform 800ms cubic-bezier(.2,.8,.2,1);
}
.ph-reveal.is-in { opacity: 1; transform: none; }