Exhibits both phospholipase A1/2 and acyltransferase activities (By similarity). Shows phospholipase A1 (PLA1) and A2 (PLA2) activity, catalyzing the calcium-independent release of fatty acids from the sn-1 or sn-2 position of glycerophospholipids (By similarity). Shows N-acyltransferase activity, catalyzing the calcium-independent transfer of a fatty acyl group at the sn-1 position of phosphatidylcholine (PC) and other glycerophospholipids to the primary amine of phosphatidylethanolamine (PE), forming N-acylphosphatidylethanolamine (NAPE), which serves as precursor for N-acylethanolamines (NAEs) (PubMed:19000777). a 1,2-diacyl-sn-glycero-3-phosphocholine + H2O = a 1-acyl-sn-glycero-3-phosphocholine + a fatty acid + H(+) a 1,2-diacyl-sn-glycero-3-phosphocholine + H2O = a 2-acyl-sn-glycero-3-phosphocholine + a fatty acid + H(+) 1,2-di-(9Z-octadecenoyl)-sn-glycero-3-phosphoethanolamine + 1-hexadecanoyl-2-(5Z,8Z,11Z,14Z-eicosatetraenoyl)-sn-glycero-3-phosphocholine = 1-hexadecanoyl-sn-glycero-3-phosphocholine + H(+) + N-(5Z,8Z,11Z,14Z-eicosatetraenoyl)-1,2-di-(9Z-octadecenoyl)-sn-glycero-3-phosphoethanolamine 1,2-di-(9Z-octadecenoyl)-sn-glycero-3-phosphoethanolamine + 1,2-dihexadecanoyl-sn-glycero-3-phosphocholine = 1-hexadecanoyl-sn-glycero-3-phosphocholine + H(+) + N-hexadecanoyl-1,2-di-(9Z-octadecenoyl)-sn-glycero-3-phosphoethanolamine 1,2-di-(9Z-octadecenoyl)-sn-glycero-3-phosphoethanolamine + 1,2-dihexadecanoyl-sn-glycero-3-phosphocholine = 2-hexadecanoyl-sn-glycero-3-phosphocholine + H(+) + N-hexadecanoyl-1,2-di-(9Z-octadecenoyl)-sn-glycero-3-phosphoethanolamine a 1,2-diacyl-sn-glycero-3-phosphocholine + a 1,2-diacyl-sn-glycero-3-phosphoethanolamine = a 1-acyl-sn-glycero-3-phosphocholine + H(+) + N-acyl-1,2-diacyl-sn-glycero-3-phosphoethanolamine a 1,2-diacyl-sn-glycero-3-phosphocholine + a 1,2-diacyl-sn-glycero-3-phosphoethanolamine = a 2-acyl-sn-glycero-3-phosphocholine + H(+) + N-acyl-1,2-diacyl-sn-glycero-3-phosphoethanolamine 1,2-di-(9Z-octadecenoyl)-sn-glycero-3-phosphoethanolamine + 1-hexadecanoyl-2-(9Z-octadecenoyl)-sn-glycero-3-phosphocholine = 1-hexadecanoyl-sn-glycero-3-phosphocholine + H(+) + N,1,2-tri-(9Z-octadecenoyl)-sn-glycero-3-phosphoethanolamine Isoform 4 shows highest expression level in testis. Belongs to the H-rev107 family.