Both. At the very center of the hole, everything cancels. But it is unstable. As you head in any direction, you will get pulled further. Which means that th

Both. At the very center of the hole, everything cancels. But it is unstable. As you head in any direction, you will get pulled further. Which means that there are also tides pulling you apart. At the center of the solid ring of the torus, everything also cancels. But this time the tides are squishing you together. Which is why the configuration is stable.