Which of the following securities would not typically be found in a money market fund's portfolio?

A money market fund primarily invests in short-term, high-quality, liquid instruments that are designed to offer a safe place for investors to park cash while earning a modest return. These securities typically include instruments such as commercial paper, Treasury bills (T-bills), and bankers' acceptances, all of which have relatively low risks and short maturities, usually less than one year.

American Depositary Receipts (ADRs), on the other hand, represent shares in foreign companies and are generally more volatile than the other securities found in a money market fund. ADRs are considered equity securities and do not fit within the short-term, low-risk investment profile that characterizes money market fund holdings. Due to their nature and potential for price fluctuations, ADRs are usually found in equity funds rather than in money market funds, which focus on preserving capital and providing liquidity rather than seeking capital appreciation. This is why ADR is the security that would not typically be included in a money market fund's portfolio.