Equity exposure refers to an investor's or a company's holding in equities, which are shares representing ownership in a publicly traded company. It is the extent to which an individual or institution has invested their money into stocks of different companies. The level of equity exposure can vary depending on factors such as risk tolerance and investment goals. A higher degree of equity exposure may result in greater potential returns, but also carries a higher level of risk. On the other hand, lower equity exposure may reduce risk, but could also limit potential returns.