Puree enough berries to make 1 cup. Pour into saucepan and heat to boiling over medium heat. Cook 1 min, stirring constantly. Cool. Slice remaining berries and chill them. Cream sugar, shortening and eggs until fluffy. Combine dry and add alternately with the water.
Sir in pureed cooked strawberries. Fold in nuts. Pour batter into greased 9x5 in. loaf pan. Bake at 350 for 1 hr.or until tester inserted in center comes out clean. Cool in pan 10 min. Remove and cool completely on rack. Let stand, wrapped in foil at room temp. for 24 hrs. To serve, cut into thin slices and top with reserved berries.