Preheat your oven to 350°F (175°C). Grease and flour two 9-inch round cake pans.

In a bowl, whisk together the flour, baking powder, baking soda, and salt.

In a large bowl, beat the unsalted butter, vegetable oil, and granulated sugar until light and fluffy.

Mix in the eggs one at a time, followed by the vanilla extract until fully incorporated.

Gradually add the dry mixture to the butter mixture, alternating with the buttermilk, beginning and ending with the dry ingredients.

Divide the batter evenly between the prepared pans. Bake for 25-30 minutes, or until a toothpick inserted in the center comes out clean.

Allow cakes to cool in the pans for 10 minutes, then transfer to a wire rack to cool completely.

While the cake cools, toss the sliced strawberries with strawberry preserves or jam and let them sit to macerate.

In a bowl, beat the room-temperature cream cheese and powdered sugar until smooth.

In another bowl, whip the heavy cream and vanilla extract to stiff peaks. Gently fold the whipped cream into the cream cheese mixture.

Place one cake layer on a serving plate. Spread half of the whipped topping over it, followed by half of the macerated strawberries.

Place the second cake layer on top and repeat with the remaining whipped topping and strawberries.