From what I've been able to gather, you can remove the Share What's New Block with the Layout Editor under Theme Manager, just select "Home Page" from the drop down.
I ended up doing it that way. At first I was trying to keep the What’s New Block in layout editor, but remove the Share what’s new option from the page...so it would still show newsfeed but the newsfeed only be from Blogs, Topics and Events. And no options to add custom post inside of home.
