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  <headerData>
    <submissionType>13F-HR</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <flags>
        <confirmingCopyFlag>false</confirmingCopyFlag>
        <returnCopyFlag>true</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
      </flags>
      <filer>
        <credentials>
          <cik>0001685771</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>09-30-2017</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>09-30-2017</reportCalendarOrQuarter>
      <filingManager>
        <name>EQUITY INVESTMENT CORP</name>
        <address>
          <ns1:street1>3007 PIEDMONT RD NE</ns1:street1>
          <ns1:city>ATLANTA</ns1:city>
          <ns1:stateOrCountry>GA</ns1:stateOrCountry>
          <ns1:zipCode>30305</ns1:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-17617</form13FFileNumber>
      <provideInfoForInstruction5>Y</provideInfoForInstruction5>
      <additionalInformation>On September 30, 2016,  Equity Investment Corporation (CIK-0001093694) changed its name to JFB Holdings Corp.  Effective October 1, 2016, ownership of the firm transferred to a new entity and new ownership, maintaining the name, Equity Investment Corporation (CIK-0001685771).</additionalInformation>
    </coverPage>
    <signatureBlock>
      <name>Phillip Lorren</name>
      <title>Operations Manager</title>
      <phone>404 239-0111</phone>
      <signature>/s/  Phillip Lorren</signature>
      <city>Atlanta</city>
      <stateOrCountry>GA</stateOrCountry>
      <signatureDate>11-08-2017</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>0</otherIncludedManagersCount>
      <tableEntryTotal>53</tableEntryTotal>
      <tableValueTotal>2898373</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
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