@charset "UTF-8";
@import url("https://web.cdn.crystalfunds.com/public-web/the-ones/20190301/css/campaign-reports.css?v=1.0");
#ccp-page-may-2026-hf-industry-report {
		--theme-color-primary: #2fadbc;
		--theme-color-secondary: #2fadbc;
		--bs-success-rgb: 50, 153, 90;
		--theme-bg-dark: #0f1935;
		--theme-bg-dark-rgb: 15, 25, 53;
		--bs-danger-rgb: 177, 73, 63;
}
#ccp-page-may-2026-hf-industry-report .btn-outline-secondary {
		--bs-btn-hover-color: var(--bs-light);
}
#ccp-page-may-2026-hf-industry-report .btn-outline-secondary.btn-lg {
		--bs-btn-padding-y: 0.875rem;
		--bs-btn-padding-x: 2rem;
}
#ccp-page-may-2026-hf-industry-report .hfr-risk-stat-card,
#ccp-page-may-2026-hf-industry-report .hfr-driver-card,
#ccp-page-may-2026-hf-industry-report .hfr-platform-card {
		position: relative;
}
#ccp-page-may-2026-hf-industry-report .hfr-risk-stat-card::before,
#ccp-page-may-2026-hf-industry-report .hfr-driver-card::before,
#ccp-page-may-2026-hf-industry-report .hfr-platform-card::before {
		content: "";
		position: absolute;
		top: 0;
		left: 0;
		width: 100%;
		height: 3px;
		background: var(--theme-color-primary);
}
#section-kpi {
		background: #0f1935;
}

.hfr-kpi-strip {
		padding: 1.25rem 0;
}

.hfr-kpi {
		height: 100%;
		background: rgb(19.5, 32.5, 68.9);
		border: 1px solid rgba(var(--bs-white-rgb), 0.1);
		border-radius: 6px;
		padding: 1.25rem 1.5rem;
}
.hfr-kpi__value {
		color: var(--bs-secondary);
		margin: 0;
}
.hfr-kpi__label {
		text-transform: uppercase;
		letter-spacing: 0.06em;
		margin: 0;
		font-size: 0.875rem;
}
.hfr-kpi__note {
		color: rgba(var(--bs-white-rgb), 0.5);
		font-size: 0.75rem;
}

.hfr-stat-container {
		--hfr-stat-columns: 4;
		--hfr-stat-rows: 4;
		--border-color: rgba(var(--bs-dark-rgb), 0.33);
		--value-color: var(--bs-secondary);
		--label-color: rgba(var(--bs-dark-rgb), 0.5);
		--note-color: rgba(var(--bs-dark-rgb), 0.5);
		display: -ms-grid;
		display: grid;
		-ms-grid-rows: (auto)[var(--hfr-stat-rows)];
		-ms-grid-columns: (1fr)[var(--hfr-stat-columns)];
		    grid-template: repeat(var(--hfr-stat-rows), auto)/repeat(var(--hfr-stat-columns), 1fr);
		margin-block-end: 2rem;
		border: 1px solid var(--border-color);
		border-radius: var(--bs-border-radius);
		overflow: hidden;
}
@media (max-width: 767.98px) {
		.hfr-stat-container {
				--hfr-stat-columns: 2;
				--hfr-stat-rows: 2;
		}
}

.hfr-stat-box {
		padding: 1.75rem 2rem;
		background-color: var(--bs-white);
}
.hfr-stat-box__value {
		color: var(--value-color);
		font-weight: bold;
		margin-bottom: 0.5rem;
}
.hfr-stat-box__label {
		text-transform: uppercase;
		letter-spacing: 0.07em;
		color: var(--label-color);
		margin-bottom: 0.5rem;
		font-size: 0.875rem;
}
.hfr-stat-box__note {
		color: var(--note-color);
		font-size: 0.875rem;
		margin: 0;
}
.hfr-stat-box--mini {
		padding: 1rem 1.25rem;
		position: relative;
}
.hfr-stat-box--mini .hfr-stat-box__value {
		color: var(--bs-primary);
}
.hfr-stat-box--mini::before {
		content: "";
		position: absolute;
		display: block;
		inset: 0 auto 0 0;
		background-color: var(--border-color);
		width: 1px;
		height: calc(100% - 3rem);
		margin-block: auto;
}
@media (min-width: 768px) {
		.hfr-stat-box--mini:first-of-type::before {
				content: none;
		}
}
@media (max-width: 767.98px) {
		.hfr-stat-box--mini::before {
				content: none;
		}
		.hfr-stat-box--mini:where(:nth-of-type(2n)) {
				border-inline-start: 1px solid var(--border-color);
		}
		.hfr-stat-box--mini:where(:nth-of-type(1n + 3)) {
				border-block-start: 1px solid var(--border-color);
		}
}

.implied-sharpe-container {
		--text-color: var(--bs-light);
		--background-color: transparent;
		--eyebrow-color: var(--bs-primary);
		--value-color: var(--bs-primary);
		--label-color: rgba(var(--bs-dark-rgb), 0.6);
		display: -ms-grid;
		display: grid;
		-ms-grid-rows: auto;
		-ms-grid-columns: 1fr 2rem 1fr 2rem 1fr;
		    grid-template: auto/repeat(3, 1fr);
		gap: 2rem;
}
@media (max-width: 767.98px) {
		.implied-sharpe-container {
				display: flex;
				flex-direction: column;
				gap: 1rem;
		}
}
.implied-sharpe-container {
		margin-block-end: 2rem;
}
.implied-sharpe-container .implied-sharpe-box {
		background-color: var(--background-color);
		border: 1px solid rgba(var(--bs-dark-rgb), 0.25);
		padding: 1.75rem 2rem;
		color: var(--text-color);
		font-family: var(--ccp-heading-font-family);
		border-radius: var(--bs-border-radius-lg);
}
.implied-sharpe-container .implied-sharpe-box__eyebrow {
		color: var(--eyebrow-color);
		margin-block: 0 0.5rem;
		line-height: 1;
}
.implied-sharpe-container .implied-sharpe-box__value {
		color: var(--value-color);
		font-size: calc(1.475rem + 2.7vw);
}
@media (min-width: 1200px) {
		.implied-sharpe-container .implied-sharpe-box__value {
				font-size: 3.5rem;
		}
}
.implied-sharpe-container .implied-sharpe-box__value {
		margin-block: 0 0.25rem;
		font-weight: bold;
		line-height: 1;
}
.implied-sharpe-container .implied-sharpe-box__label {
		color: var(--label-color);
		margin-block-end: 0;
}
.implied-sharpe-container .implied-sharpe-box--selected {
		--eyebrow-color: var(--bs-secondary);
		--value-color: var(--bs-secondary);
		--background-color: var(--bs-primary);
		--label-color: rgba(var(--bs-light-rgb), 0.75);
}

.hfr-pull-quote {
		background-color: var(--bs-primary);
		border-radius: var(--bs-border-radius);
		padding: 1.25rem 2rem;
		color: var(--bs-light);
		font-size: 1.125rem;
		font-style: italic;
		margin: 0;
}
.hfr-pull-quote::before {
		content: "“";
		font-family: var(--ccp-heading-font-family);
		color: var(--bs-secondary);
		font-size: 4rem;
		line-height: 1;
		margin: 0;
}
.hfr-pull-quote > p:not(.small) {
		font-family: var(--ccp-heading-font-family);
		text-wrap: pretty;
		font-size: calc(1.275rem + 0.3vw);
}
@media (min-width: 1200px) {
		.hfr-pull-quote > p:not(.small) {
				font-size: 1.5rem;
		}
}
.hfr-pull-quote > :where(p.small) {
		font-style: normal;
		display: flex;
		align-items: center;
		color: var(--bs-secondary);
		font-weight: 600;
}
.hfr-pull-quote > :where(p.small)::before {
		content: "";
		flex: 0 0 2rem;
		height: 1px;
		background-color: currentColor;
		margin-inline-end: 0.5rem;
}

.hfr-risk-card {
		border-block-start: 3px solid rgba(var(--bs-secondary-rgb), 1);
		padding: 0.5rem 1.5rem 1.5rem;
		height: 100%;
}

.hfr-risk-stat-card {
		background: #fff;
		border-radius: 4px;
		padding: 1.5rem;
		height: 100%;
}
.hfr-risk-stat-card > p:not([class]) {
		font-size: 0.875rem;
		line-height: 1.66;
		text-wrap: pretty;
}

.hfr-driver-card {
		background: #fff;
		padding: 1.5rem;
		height: 100%;
		box-shadow: 0 2px 8px rgba(0, 0, 0, 0.05);
}

.data-table thead th {
		font-size: 0.8125rem;
		text-transform: uppercase;
		letter-spacing: 0.06em;
}
.data-table--dark td, .data-table--dark th {
		color: #f8f9fa;
}
.data-table--dark thead th {
		background: rgba(var(--bs-white-rgb), 0.1);
}

.hfr-callout-box {
		background: #0f1935;
		border-left: 3px solid var(--bs-secondary);
		border-radius: 4px;
		padding: 1.5rem 1.75rem;
		color: #fff;
}

.table--hfri, .table--five-year-annualized {
		--bs-table-bg: var(--bs-white);
		--bs-table-border-color: rgba(var(--bs-dark-rgb), 0.25);
		--bs-table-border-color: #E3E7EC;
}
.table-responsive > .table--hfri, .table-responsive > .table--five-year-annualized {
		border-radius: var(--bs-border-radius);
}
.table--hfri thead :where(th), .table--five-year-annualized thead :where(th) {
		background-color: var(--bs-primary);
		color: var(--bs-white);
		font-size: 80%;
		font-weight: normal;
		font-family: var(--ccp-heading-font-family);
}
.table--hfri tbody td, .table--five-year-annualized tbody td {
		color: var(--bs-primary);
		padding-block: 0.75rem;
}
.table--hfri tbody :where(tr:first-of-type td), .table--five-year-annualized tbody :where(tr:first-of-type td) {
		background-color: #EEF7F8;
}
.table--hfri tbody :where(tr:last-of-type td), .table--five-year-annualized tbody :where(tr:last-of-type td) {
		border-bottom-width: 0;
}

.table--five-year-annualized tbody :where(tr:first-of-type td) {
		background-color: unset;
}
.table--five-year-annualized tbody :where(tr:last-of-type td) {
		background-color: #EEF7F8;
		font-weight: bold;
}

.hfr-aum-grid {
		display: -ms-grid;
		display: grid;
		-ms-grid-columns: 1fr 1rem 1fr 1rem 1fr 1rem 1fr;
		grid-template-columns: repeat(4, 1fr);
		gap: 1rem;
}
@media (max-width: 767.98px) {
		.hfr-aum-grid {
				-ms-grid-columns: (1fr)[2];
				grid-template-columns: repeat(2, 1fr);
		}
}

.hfr-aum-card {
		background: #0f1935;
		border-radius: 8px;
		padding: 1.5rem 1.75rem;
}
.hfr-aum-card__value {
		font-size: calc(1.425rem + 2.1vw);
}
@media (min-width: 1200px) {
		.hfr-aum-card__value {
				font-size: 3rem;
		}
}
.hfr-aum-card__value {
		font-family: var(--ccp-heading-font-family);
		font-weight: 700;
		color: var(--bs-secondary);
		margin: 0 0 0.75rem;
		line-height: 1.1;
}
.hfr-aum-card__label {
		color: var(--bs-light);
		font-size: 0.875rem;
		font-weight: 500;
		margin: 0;
		line-height: 1.5;
}

.chart-image-wrapper {
		position: relative;
		border-radius: 8px;
		overflow: hidden;
		background: rgba(var(--bs-white-rgb), 0.04);
		border: 1px solid rgba(var(--bs-white-rgb), 0.1);
}

#section-cta {
		background: linear-gradient(to right, #3C1053, var(--bs-primary));
}

#section-performance .data-table--dark td, #section-performance .data-table--dark th {
		color: #f8f9fa;
}
#section-performance .data-table--dark thead th {
		background: rgba(var(--bs-white-rgb), 0.1);
}
#section-performance .data-table--dark tbody tr:first-child td {
		background: rgba(var(--bs-secondary-rgb), 0.3);
}

#section-methodology p.small, #section-methodology li {
		color: var(--bs-secondary-color);
}

#section-sources li {
		margin-bottom: 0.5rem;
}