It rides the lands just barely depending on what your barrel maker did, up until just ahead of the first grease groove, this is just behind the center of mass indicated by the red in the diagram from N.O.E., below.
It actually is so close to riding the lands that it won't wobble if I stick it into the muzzle of the bore nose first. No real engraving pressure or evidence of it fully engaging the lands exists except that it is difficult to twist one of these in the muzzle inserted nose first. Someone really did a great job designing this mold.