Acyltransferase that mediates the acylation of lysophospholipids to produce phospholipids (glycerophospholipids). Highest activity with lysophosphatidylcholine (1-acyl-sn-glycero-3-phosphocholine or LPC) producing phosphatidylcholine (1,2-diacyl-sn-glycero-3-phosphocholine or PC) (LPCAT activity), but also converts 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). Has a preference for unsaturated fatty acids of at least 16 carbons such as oleoyl-CoA ((9Z)-octadecenoyl-CoA) and palmitoleoyl-CoA ((9Z)-hexadecenoyl-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. Essential for fertility and viability together with Oysgedart (Oys). Required for germ cells to migrate into the mesoderm. 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-phosphocholine + an acyl-CoA = a 1,2-diacyl-sn-glycero-3-phosphocholine + CoA (9Z)-octadecenoyl-CoA + 1-hexadecanoyl-sn-glycero-3-phosphocholine = 1-hexadecanoyl-2-(9Z-octadecenoyl)-sn-glycero-3-phosphocholine + CoA (9Z,12Z)-octadecadienoyl-CoA + 1-hexadecanoyl-sn-glycero-3-phosphocholine = 1-hexadecanoyl-2-(9Z,12Z-octadecadienoyl)-sn-glycero-3-phosphocholine + CoA (5Z,8Z,11Z,14Z)-eicosatetraenoyl-CoA + 1-hexadecanoyl-sn-glycero-3-phosphocholine = 1-hexadecanoyl-2-(5Z,8Z,11Z,14Z-eicosatetraenoyl)-sn-glycero-3-phosphocholine + CoA (9Z)-hexadecenoyl-CoA + 1-hexadecanoyl-sn-glycero-3-phosphocholine = 1-hexadecanoyl-2-(9Z-hexadecenoyl)-sn-glycero-3-phosphocholine + CoA Lipid metabolism; phospholipid metabolism. During gastrulation, expressed mainly along the midline in the presumptive mesoderm. During germ band elongation, expressed in mesoderm and endoderm primordia and in the cephalic furrow. Expression in mesoderm and endoderm lineages continues during germ band shortening. At the end of this process, no longer detected in somatic mesoderm or endoderm layer with expression restricted to anterior and posterior domains of the visceral mesoderm. Expressed throughout development with highest levels in adult females and preblastoderm embryos. Belongs to the membrane-bound acyltransferase family. Although strongly related to the membrane-bound acyltransferase family, it lacks the conserved His active site which is replaced by an Asn-415 residue.