Facebook – Get Facebook to display the friends from a particular city

If you are using your iPhone then no you cannot pair them down. Your only option is to select what type of feed you want to read (posts, photos, games, etc) but you have to do it everything single time you open the Facebook App. I agree it sucks but Facebook has done nothing to fix it in the past 2 years.

The stories you see in your News Feed are determined by an algorithm that Facebook uses to determine which stories are most relevant to you. Facebook intentionally doesn't show you all of your friends, as you would be more likely to be bored by all friends' activity than others.

At the current time, you cannot override this to see "All" friends, but you can choose to Hide stories from specific friends.

From Facebook Help:

Hover over the top right menu of a story, click the dropdown menu 
and choose what you'd like to hide:
Hide story will remove the story you're looking at from your News Feed