Which statement is incorrect regarding the market portfolio?

Question $19$Select one:

a$.$

It includes all publicly$-$traded financial assets.

b$.$

All securities in the market portfolio are held in proportion to their market values.

c$.$

It lies on the efficient frontier.

d$.$

It is the tangency point between the capital market line and the indifference curve.

e$.$

All of the options are true.