Enables diacylglycerol binding activity and triglyceride binding activity. Involved in several processes, including cellular triglyceride homeostasis; lipid droplet formation; and positive regulation of sequestering of triglyceride. Acts upstream of or within sequestering of triglyceride. Located in endoplasmic reticulum membrane. Is integral component of endoplasmic reticulum membrane. Is expressed in several structures, including alimentary system; brain; genitourinary system; hemolymphoid system gland; and integumental system. Orthologous to human FITM2 (fat storage inducing transmembrane protein 2). [provided by Alliance of Genome Resources, Apr 2022]