Anti-de Sitter fragmentation

Low-energy, near-horizon scaling limits of black holes which lead to string theory on AdS(2) x S-2 are described. Unlike the higher-dimensional cases, in the simplest approach all finite-energy excitations of AdS(2) x S-2 are suppressed. Surviving zero-energy configurations are described. These can include tree-like structures in which the AdS(2) x S-2 throat branches as t he horizon is approached, as well as disconnected AdS(2) x S-2 universes. I n principle, the black hole entropy counts the quantum ground states on the moduli space of such configurations. In a nonsupersymmetric context AdS(D) for general D can be unstable against instanton-mediated fragmentation int o disconnected universes. Several examples are given.