BuddyPress: Function to remove Favorites tab?

Hi WPMU team -

I'm trying to completely hide/remove the Favorites tab from the various activity streams like site wide activity and the member profile.

I'd like to accomplish this with a function rather than CSS - that seems more correct, doesn't it?

Does this look like the correct action to place in my child theme's functions.php? I haven't had any luck trying to write the function properly.

bp_core_remove_subnav_item( $bp->activity->slug, 'favorites' );

Thanks for any help or insight!