Acyltransferase that mediates the acylation of lysophospholipids to produce phospholipids (glycerophospholipids). Highest activity with lysophosphatidylinositol (1-acyl-sn-glycero-3-phospho-(1D-myo-inositol) or LPI) producing phosphatidylinositol (1,2-diacyl-sn-glycero-3-phospho-(1D-myo-inositol) or PI) (LPIAT activity), but also converts lysophosphatidylcholine (1-acyl-sn-glycero-3-phosphocholine or LPC) to phosphatidylcholine (1,2-diacyl-sn-glycero-3-phosphocholine or PC) (LPCAT activity), lysophosphatidylserine (1-acyl-2-hydroxy-sn-glycero-3-phospho-L-serine or LPS) to phosphatidylserine (1,2-diacyl-sn-glycero-3-phospho-L-serine or PS) (LPSAT activity), and lysophosphatidylethanolamine (1-acyl-sn-glycero-3-phosphoethanolamine or LPE) producing phosphatidylethanolamine (1,2-diacyl-sn-glycero-3-phosphoethanolamine or PE) (LPEAT activity). Has a preference for unsaturated fatty acid arachidonoyl-CoA ((5Z,8Z,11Z,14Z)-eicosatetraenoyl-CoA). Glycerophospholipids are important structural and functional components of cellular membrane, acyl-chain remodeling regulates the molecular species distribution of glycerophospholipids which can affect membrane fluidity and curvature. (5Z,8Z,11Z,14Z)-eicosatetraenoyl-CoA + a 1-acyl-sn-glycero-3-phospho-(1D-myo-inositol) = a 1-acyl-2-(5Z,8Z,11Z,14Z-eicosatetraenoyl)-sn-glycero-3-phospho-(1D-myo-inositol) + CoA a 1-acyl-sn-glycero-3-phosphocholine + an acyl-CoA = a 1,2-diacyl-sn-glycero-3-phosphocholine + CoA (9Z)-hexadecenoyl-CoA + 1-hexadecanoyl-sn-glycero-3-phosphocholine = 1-hexadecanoyl-2-(9Z-hexadecenoyl)-sn-glycero-3-phosphocholine + CoA a 1-acyl-sn-glycero-3-phospho-L-serine + an acyl-CoA = a 1,2-diacyl-sn-glycero-3-phospho-L-serine + CoA (9Z)-hexadecenoyl-CoA + 1-(9Z-octadecenoyl)-sn-glycero-3-phospho-L-serine = 1-(9Z-octadecenoyl)-2-(9Z-hexadecenoyl)-sn-glycero-3-phospho-L-serine + CoA a 1-acyl-sn-glycero-3-phosphoethanolamine + an acyl-CoA = a 1,2-diacyl-sn-glycero-3-phosphoethanolamine + CoA (9Z)-hexadecenoyl-CoA + 1-hexadecanoyl-sn-glycero-3-phosphoethanolamine = 1-hexadecanoyl-2-(9Z)-hexadecenoyl-sn-glycero-3-phosphoethanolamine + CoA Lipid metabolism; phospholipid metabolism. Belongs to the membrane-bound acyltransferase family.