Palmitoyltransferase that catalyzes the addition of palmitate onto various protein substrates (PubMed:15603741, PubMed:17012030, PubMed:28167757). Has no stringent fatty acid selectivity and in addition to palmitate can also transfer onto target proteins myristate from tetradecanoyl-CoA and stearate from octadecanoyl-CoA (Probable). Palmitoylates IGF2R and SORT1, promoting their partitioning to an endosomal membrane subdomain where they can interact with the retromer cargo-selective complex (By similarity). Thereby, regulates retrograde transport from endosomes to the Golgi apparatus of these lysosomal sorting receptors and plays a role in trafficking of lysosomal proteins (By similarity). In the nervous system, catalyzes the palmitoylation of DLG4/PSD95 and regulates its synaptic clustering and function in synaptogenesis (PubMed:15603741). Could be involved in the differentiation of dopaminergic neurons and the development of the diencephalon (By similarity). Could also catalyze the palmitoylation of GAP43 (PubMed:15603741, PubMed:17012030). Could also palmitoylate DNAJC5 and regulate its localization to the Golgi membrane (PubMed:18596047). Could also palmitoylate FYN as shown in vitro (By similarity). hexadecanoyl-CoA + L-cysteinyl-[protein] = CoA + S-hexadecanoyl-L-cysteinyl-[protein] L-cysteinyl-[protein] + tetradecanoyl-CoA = CoA + S-tetradecanoyl-L-cysteinyl-[protein] L-cysteinyl-[protein] + octadecanoyl-CoA = CoA + S-octadecanoyl-L-cysteinyl-[protein] Inhibited by 2-bromopalmitate. Expressed mainly in brain. The DHHC domain is required for palmitoyltransferase activity. Autopalmitoylated (in vitro). Belongs to the DHHC palmitoyltransferase family.