The data and machine learning models used by hedge funds are secret. However, there is one hedge fund which makes its data public - Numer.ai. The dataset is encrypted and prediction of stock market is transformed into binary classification problem. Every 7 days (one round) a new dataset is released and anyone can download it, train model and upload predictions. At the end of the round, the best predictions are rewarded - there is no need to upload the model. As you can see from the leaderboard,
MLJAR_COM is doing really well!