Catalyzes the hydrolysis of a wide range of substrates including cholesteryl esters, phospholipids, lysophospholipids, di- and tri-acylglycerols, and fatty acid esters of hydroxy fatty acids (FAHFAs) (PubMed:8471055, PubMed:27509211, PubMed:10220579, PubMed:27650499). Preferentially hydrolyzes FAHFAs with the ester bond further away from the carboxylate. Unsaturated FAHFAs are hydrolyzed more quickly than saturated FAHFAs (By similarity). Has an essential role in the complete digestion of dietary lipids and their intestinal absorption, along with the absorption of fat-soluble vitamins (PubMed:8471055, PubMed:27509211, PubMed:10220579, PubMed:27650499). a triacylglycerol + H2O = a diacylglycerol + a fatty acid + H(+) 1,2,3-tri-(9Z-octadecenoyl)-glycerol + H2O = (9Z)-octadecenoate + di-(9Z)-octadecenoylglycerol + H(+) 1,2,3-trioctanoylglycerol + H2O = dioctanoylglycerol + H(+) + octanoate a sterol ester + H2O = a fatty acid + a sterol + H(+) cholesteryl (9Z-octadecenoate) + H2O = (9Z)-octadecenoate + cholesterol + H(+) an acetyl ester + H2O = acetate + an aliphatic alcohol + H(+) a butanoate ester + H2O = an aliphatic alcohol + butanoate + H(+) 9-hexadecanoyloxy-octadecanoate + H2O = 9-hydroxy-octadecanoate + H(+) + hexadecanoate 9-(9Z-octadecenoyloxy)-octadecanoate + H2O = (9Z)-octadecenoate + 9-hydroxy-octadecanoate + H(+) 1-hexadecanoyl-sn-glycero-3-phosphocholine + H2O = H(+) + hexadecanoate + sn-glycerol 3-phosphocholine 12-hexadecanoyloxy-octadecanoate + H2O = 12-hydroxyoctadecanoate + H(+) + hexadecanoate 12-(9Z-octadecenoyloxy)-octadecanoate + H2O = (9Z)-octadecenoate + 12-hydroxyoctadecanoate + H(+) 13-(9Z-octadecenoyloxy)-octadecanoate + H2O = (9Z)-octadecenoate + 13-hydroxy-octadecanoate + H(+) 9-(9Z-hexadecenoyloxy)-octadecanoate + H2O = (9Z)-hexadecenoate + 9-hydroxy-octadecanoate + H(+) 12-(9Z-hexadecenoyloxy)-octadecanoate + H2O = (9Z)-hexadecenoate + 12-hydroxyoctadecanoate + H(+) 13-(9Z-hexadecenoyloxy)-octadecanoate + H2O = (9Z)-hexadecenoate + 13-hydroxy-octadecanoate + H(+) 12-octadecanoyloxy-octadecanoate + H2O = 12-hydroxyoctadecanoate + H(+) + octadecanoate 13-octadecanoyloxy-octadecanoate + H2O = 13-hydroxy-octadecanoate + H(+) + octadecanoate 5-(9Z-hexadecenoyloxy)-octadecanoate + H2O = (9Z)-hexadecenoate + 5-hydroxy-octadecanoate + H(+) 9-octadecanoyloxy-octadecanoate + H2O = 9-hydroxy-octadecanoate + H(+) + octadecanoate Activated by bile salts such as sodium taurocholate. Interacts with CLC. Mammary gland and pancreas. Detected in pancreatic and duodenal juice (at protein level) (PubMed:21784842). Expressed by eosinophils. N- and O-glycosylated. The variable number of tandem repeats (VNTR)-region in exon 11 is highly polymorphic, and VNTR number varies between 3 and 23. The most common allele contains 16 repeats (PubMed:12166660, PubMed:16369531, PubMed:19760265). Some alleles contain common single base insertions in the VNTR region that are predicted to lead to protein truncation and may be associated with an increased risk of exocrine pancreatic dysfunction in autoimmune diabetes (PubMed:16369531). The disease is caused by variants affecting the gene represented in this entry. Single base deletions in the VNTR-region, that result in frame shift and protein truncation, have been identified as disease causing variants in MODY8 families (PubMed:16369531). Belongs to the type-B carboxylesterase/lipase family.