Calcium-independent phospholipase, lysophospholipase and O-acyltransferase involved in phospholipid remodeling. Preferentially hydrolyzes the ester bond of the fatty acyl group attached at sn-2 position of phospholipids with choline and ethanolamine head groups, producing lysophospholipids that are used in deacylation-reacylation cycles. Transfers the sn-1 fatty acyl from one lysophospholipid molecule to the sn-2 position of another lysophospholipid to form diacyl, alkylacyl and alkenylacyl glycerophospholipids. Cleaves ester bonds but not alkyl or alkenyl ether bonds at the sn-1 position of lysophospholipids. Catalyzes sn-2 fatty acyl transfer from phospholipids to the sn-2 position of 1-O-alkyl or 1-O-alkenyl lysophospholipids with lower efficiency. a 1,2-diacyl-sn-glycero-3-phosphocholine + H2O = a 1-acyl-sn-glycero-3-phosphocholine + a fatty acid + H(+) 1,2-dihexadecanoyl-sn-glycero-3-phosphocholine + H2O = 1-hexadecanoyl-sn-glycero-3-phosphocholine + H(+) + hexadecanoate 1-hexadecanoyl-2-(9Z-octadecenoyl)-sn-glycero-3-phosphocholine + H2O = (9Z)-octadecenoate + 1-hexadecanoyl-sn-glycero-3-phosphocholine + H(+) 1-hexadecanoyl-2-(9Z,12Z-octadecadienoyl)-sn-glycero-3-phosphocholine + H2O = (9Z,12Z)-octadecadienoate + 1-hexadecanoyl-sn-glycero-3-phosphocholine + H(+) 1-hexadecanoyl-2-(5Z,8Z,11Z,14Z-eicosatetraenoyl)-sn-glycero-3-phosphocholine + H2O = (5Z,8Z,11Z,14Z)-eicosatetraenoate + 1-hexadecanoyl-sn-glycero-3-phosphocholine + H(+) 1-O-hexadecyl-2-(5Z,8Z,11Z,14Z)-eicosatetraenoyl-sn-glycero-3-phosphocholine + H2O = (5Z,8Z,11Z,14Z)-eicosatetraenoate + 1-O-hexadecyl-sn-glycero-3-phosphocholine + H(+) 1-hexadecanoyl-2-(5Z,8Z,11Z,14Z-eicosatetraenoyl)-sn-glycero-3-phosphocholine + H2O = 2-(5Z,8Z,11Z,14Z)-eicosatetraenoyl-sn-glycero-3-phosphocholine + H(+) + hexadecanoate a 1-acyl-sn-glycero-3-phosphocholine + H2O = a fatty acid + H(+) + sn-glycerol 3-phosphocholine 1-hexadecanoyl-sn-glycero-3-phosphocholine + H2O = H(+) + hexadecanoate + sn-glycerol 3-phosphocholine 2 1-hexadecanoyl-sn-glycero-3-phosphocholine = 1,2-dihexadecanoyl-sn-glycero-3-phosphocholine + sn-glycerol 3-phosphocholine 1-hexadecanoyl-sn-glycero-3-phosphocholine + 1-hexadecanoyl-sn-glycero-3-phosphoethanolamine = 1,2-dihexadecanoyl-sn-glycero-3-phosphoethanolamine + sn-glycerol 3-phosphocholine 1-hexadecanoyl-sn-glycero-3-phosphocholine + 1-hexadecanoyl-sn-glycero-3-phosphoethanolamine = 1,2-dihexadecanoyl-sn-glycero-3-phosphocholine + sn-glycero-3-phosphoethanolamine 2 1-hexadecanoyl-sn-glycero-3-phosphoethanolamine = 1,2-dihexadecanoyl-sn-glycero-3-phosphoethanolamine + sn-glycero-3-phosphoethanolamine 1-hexadecanoyl-sn-glycero-3-phosphocholine + 1-O-hexadecyl-sn-glycero-3-phosphocholine = 1-O-hexadecyl-2-hexadecanoyl-sn-glycero-3-phosphocholine + sn-glycerol 3-phosphocholine 1-hexadecanoyl-sn-glycero-3-phosphocholine + 1-O-(1Z-alkenyl)-sn-glycero-3-phosphoethanolamine = 1-O-(1Z)-alkenyl-2-hexadecanoyl-sn-glycero-3-phosphoethanolamine + sn-glycerol 3-phosphocholine 1-hexadecanoyl-sn-glycero-3-phosphoethanolamine + 1-O-hexadecyl-sn-glycero-3-phosphocholine = 1-O-hexadecyl-2-hexadecanoyl-sn-glycero-3-phosphocholine + sn-glycero-3-phosphoethanolamine 1-hexadecanoyl-sn-glycero-3-phosphocholine + 1-octadecanoyl-2-(5Z,8Z,11Z,14Z)-eicosatetraenoyl-sn-glycero-3-phosphoethanolamine = 1-hexadecanoyl-2-(5Z,8Z,11Z,14Z-eicosatetraenoyl)-sn-glycero-3-phosphocholine + 1-octadecanoyl-sn-glycero-3-phosphoethanolamine 1-O-hexadecyl-sn-glycero-3-phosphocholine + 1-octadecanoyl-2-(5Z,8Z,11Z,14Z)-eicosatetraenoyl-sn-glycero-3-phosphoethanolamine = 1-O-hexadecyl-2-(5Z,8Z,11Z,14Z)-eicosatetraenoyl-sn-glycero-3-phosphocholine + 1-octadecanoyl-sn-glycero-3-phosphoethanolamine 1-hexadecanoyl-2-(9Z,12Z-octadecadienoyl)-sn-glycero-3-phosphocholine + 1-O-(1Z-alkenyl)-sn-glycero-3-phosphoethanolamine = 1-hexadecanoyl-sn-glycero-3-phosphocholine + 1-O-(1Z-alkenyl)-2-(9Z,12Z-octadecadienoyl)-sn-glycero-3-phosphoethanolamine 1-hexadecanoyl-2-(5Z,8Z,11Z,14Z-eicosatetraenoyl)-sn-glycero-3-phosphocholine + 1-O-(1Z-alkenyl)-sn-glycero-3-phosphoethanolamine = 1-hexadecanoyl-sn-glycero-3-phosphocholine + 1-O-(1Z)-alkenyl-2-(5Z,8Z,11Z,14Z)-eicosatetraenoyl-sn-glycero-3-phosphoethanolamine In germinal vesicle stage oocytes and early embryos, shows mainly uniform nuclear and cortical expression. During germinal vesicle breakdown, found in intensely stained foci which accumulate near the dissolving nuclear envelope. Also localizes to spindle poles at metaphase II. Highly expressed in ovary, where it localizes to oocytes in preantral and antral stage follicles (at protein level). Not detected in other tissues tested. Strongly expressed in oocytes at the germinal vesicle stage, and in zygotes (at protein level). Maternal expression persists in embryos at the 2-cell stage but then declines rapidly and is completely lost by the morula stage (at protein level).