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We study the dynamics of $D$-branes in the near-horizon geometry of $NS$fivebranes. This leads to a holographically dual description of the physics of$D$-branes ending on and/or intersecting $NS5$-branes. We use it to verify someproperties of such $D$-branes which were deduced indirectly in the past, anddiscuss some instabilities of non-supersymmetric brane configurations. Ourconstruction also describes vacua of Little String Theory which are dual toopen plus closed string theory in asymptotically linear dilaton spacetimes.Comment: 44 pages, 16 figures, harvma

D-branes in the background of NS fivebranes