Abstract
We study several classes of marginal deformations of the conformal field theory SU(2) x R. This theory describes the near-horizon region of a stack of parallel and coincident NS5-branes and is related holographically to little string theory. We investigate the supersymmetry properties of these deformations and we elucidate their role in the context of holography. The conformal field theory moduli space contains "non-holographic" operators that do not seem to have a simple interpretation in little string theory. Subsequently, we analyze several NS5-brane configurations in terms of SU(2) x R deformations. We discuss in detail interesting phenomena, like the excision of the strong coupling region associated with the linear dilaton and the manifestation of the symmetries of an NS5-brane setup in the deforming operators. Finally, we present a class of conformally hyperkaehler geometries that arise as "non-holographic" deformations of SU(2) x R.