Step 1

Slice the bolillo bread into thick slices, let dry up overnight, OR place in a 300 degree oven for 25-35 minutes, tossing halfway through to help toast up evenly.

Step 2

To a large sauce pan, add the water, piloncillo, cinnamon sticks, cloves and the orange peel. Let it come to a boil until the piloncillo is completely dissolved. Once dissolved, let simmer for an extra 5 minutes. Then let cool down & strain out the syrup.

Step 3

Get a baking dish and spread the bottom all over with butter, about 1 tbsp.

Step 4

To start assembling, add some of the bolillo to the piloncillo syrup, toss to coat then add the bread to the baking dish in an even layer.

Step 5

After the first layer of bread, sprinkle over half of the peanuts, raisins, pecans, almonds, shredded coconut and the queso fresco.

Step 6

Finish off the capirotada by soaking the remaining bread in the remaining syrup and layer it on top of the first layer of toppings. Top off with all the remaining toppings, except the queso fresco, reserve it for garnish when serving.

Step 7

Pour over any remaining syrup onto the bread, add little pats of butter on top, about 5 tablespoons. Drizzle over with Sweetened condensed milk if using.

Step 8

Cover with aluminum paper and bake at 350 degrees for 25-30 minutes. Bake covered for 20 minutes, then uncovered for the remaining time. Go for 35-40 minutes if you'd like a toastier bread pudding.

Step 9

To serve, scoop into bowls, top off with more sweetened condensed milk and more crumbled queso fresco.

Step 10

Enjoy!