Step 1: Think about what the liver manufactures: it pours out albumin (the main oncotic plasma protein), the bulk of the coagulation and fibrinolytic factors, and acute phase reactants released during inflammation.
Step 2: Antibodies, however, belong to the humoral immune response. Their production line is the plasma cell, an end-stage B-lymphocyte residing in lymphoid tissue and bone marrow, not the hepatocyte.
Step 3: Scanning the choices, phase proteins and albumin are textbook hepatic products, and plasma hormone-carrier proteins are largely hepatic too, so they cannot be the answer.
Step 4: The one item the liver does not build is the immunoglobulin fraction of the globulins.\[\boxed{\text{Immunoglobulins}}\]