Your home feed displays, in anti-chronological order (new things first), all the activity from people you follow, publications from the blogs you've subscribed to, and publications in topics you subscribe to.
By default, you'll find three major types of activities:
When new content is published by a member you follow, in a blog you subscribe to, or in a topic you subscribe to, it will appear in your feed.
When a member you follow likes something, boosts something, comments or replies to another comment, it'll also appear on your feed. You'll see either a preview, or the full body of the content they engaged with.
When a member you follow then follows another member, subscribes to a blog, or subscribes to a topic it'll appear on your feed, with an appropriate preview.
Customizing your feed
First, I have to mention: your home feed isn't powered by complex algorithms that decide what you get to see first, or at all. Nor suggestions about what we think you'd like to see. That's not what I do. You get all the activity from your connections, in order, and only then you decide what you actually want to see.
By default, your home feed shows all activity, except likes. However, you can create custom filters, each with its own context, and chosen types of activities to display.
For example, you could have a filter displaying only publications (of articles and notes), another for follows/subscribes to see who your community is discovering and connecting with, etc. Feel free to experiment and fine-tune your feeds as you wish. Once you have created custom filters, you can switch between them with a single click.
That's about it. Simple and transparent.