Leonardo III (ex. Waterlily) is a 43.4-metre full displacement motor yacht built by Royal Denship at the Aarhus Vaerft shipyard in Denmark and delivered in 2009. She is the sistership of M/Y Baca. Featuring a steel hull with a beam of 9 metres, a draft of 3 metres and a volume of 498 GT. she was designed for comfortable long-range cruising with balanced performance and reliable seakeeping.

Diana Yacht Design was responsible for the exterior design, naval architecture and marine engineering. Her displacement hull form supports stable behavior at sea, while propulsion integration ensures efficient performance across extended passages. Powered by twin Caterpillar 3508B diesel engines combined with Schottel STP 440 propulsion systems and double fixed propellers, she reaches a top speed of 14 knots.

Accommodation is provided for up to ten guests across five cabins, consisting of three double staterooms and two twin cabins that can be converted when required. Additionally, the yacht accommodates a professional crew of nine. The carefully planned interior arrangement by Michela Reverberi, maximizes usable space without compromising structural integrity or performance.

Outdoor areas are arranged for relaxation and dining, whereas the displacement hull ensures comfortable cruising in varying sea conditions. Furthermore, her range of 3,200 nautical miles at 12 knots cruising speed enables regional and transoceanic passages, making her suitable for extended offshore voyaging.