At this week’s SALT Conference in Las Vegas, some top hedge fund managers shared their best trade ideas.

Below is a round-up of their ideas:

Long Sarepta Therapeutics (SRPT)

Jason Karp, the founder of Tourbillon Capital Partners, is long Sarepta Therapeutics (SRPT), a leader in Duchenne Muscular Dystrophy, a type of muscular dystrophy that affects children. Its main drug is called is called Exondys.

He noted that studies have found that it significantly improves walking distance for the children impacted by the disease. The drug also has the ability to extend the lives of children. A number of insurance companies haven’t covered it because it’s an expensive drug. Karp expects that to change. He also doesn’t expect any scrutiny over drug pricing as lower prices would materially impact the company’s ability to do R&D.

Karp, an SAC Capital alum, believes Sarepta is undervalued for an orphan biotech stock. He thinks that there’s the potential for a 70% to 200% upside for the stock in the next two years. He also views it as a likely acquisition candidate, which could get investors a 300% return.

Long Nike (NKE)

John Lykouretzos, the founder of Hoplite Capital Management, thinks Nike (NKE) is an attractive long. Sporting a pair of Nike shoes on stage, Lykouretzos noted that the global market for athletic apparel and footwear has been growing.

In particular, there’s been a lot of that growth in Asia. He views the Chinese government’s focus on health and wellness as a tailwind for the company.

[Read more of our day 1 and day 2 coverage of SALT]

Short Iron Mountain (IRM)

Ricky Sandler, the founder of Eminence Capital, is short Iron Mountain (IRM), a paper storage company that’s an “unusual” and “funny-looking” real estate investment trust (REIT). He’s concerned about investor sentiment towards the sector, pointing to the rally in REIT stocks in the S&P 1500.

“Like any good craze, people start to push the borders on definitions and things,” he said. He noted this “craze” is reflected by REITS for billboards, data centers, and even prisons.

He said that Iron Mountain “looks like” an inexpensive REIT, but it’s “cheap” for a good reason. The problem with the company is it’s in the storage business, particularly the storage of paper documents. But more and more companies are storing their documents digitally. Finance, legal, insurance, and healthcare businesses are going digital, creating a significant headwind for the company.

“Iron Mountain has a significant secular problem,” Sandler said.

He also contends that the company has a significant problem with its accounting.