  We systematically construct the geometries dual to the 1+1 dimensional (0,4)
conformal field theories that arise in the low-energy description of wrapped
M5-branes in S^1 x CY_3 compactifications of M-theory. This includes a large
number of multicentered black hole bound states asymptotic to AdS_3 x S^2. In
addition, we find many geometries that develop multiple, mutually decoupled
AdS_3 x S^2 throats. We argue there is a useful one to one correspondence
between the connected components of the space of solutions and particular
limits of type IIA attractor flow trees. We point out that there is a
thermodynamic instability of small supersymmetric BTZ black holes to
localization on the S^2, a supersymmetric and exactly solvable analog of the
well known AdS-Schwarzschild localization instability, and identify this with
the ``Entropy Enigma'' in four dimensions. We discuss the phase transition this
suggests, and initiate the CFT interpretation of these results.
