Slice up the bread in cubes/chunks. In a bowl, whisk together milk, heavy whipping cream, sugar, and vanilla.
Spray the bottom of a square pan with Pam or spread butter lightly in the bottom. Place the chunks of bread in the pan. Make ‘em as tight as you can. Pour the milk mixture all over the bread. Gently spread the strawberry jam on top. Cover the pan with foil then stick the whole thing in the fridge for 25 minutes.
After 25 minutes, preheat the oven to 355°. Bake the bread pudding, uncovered, for 40 minutes. Let it cool for a bit before slicing in squares to serve everyone.