1. Center a rack in the oven and heat to 300 degrees F. In a large bowl, beat egg yolks, shortening, and margarine with an electric mixer on medium speed until well blended and creamy, about 1 minute. Slowly pour in sugar and continue to beat until light and fluffy. Beat in almond and coconut extracts.
2. Reduce mixer speed to low and slowly beat a third of the milk into egg yolk mixture, followed by a third of the flour. Repeat, alternating ingredients, and continue to mix until just incorporated, scraping down bowl as needed. Mix in shredded coconut and set aside.
3. Wash and dry beaters. In another large bowl, beat egg whites on medium speed until frothy. Increase speed to medium-high and continue to beat until stiff peaks form, about 1 minute. Gently fold egg whites into batter until just combined.
4. Transfer mixture to a greased 12-cup tube pan and bake until top of cake is golden brown and a skewer inserted into the middle comes out clean, 1 1/2 to 2 hours. Place pan on a wire-rack-lined baking sheet and let cool 15 minutes. Invert onto wire rack and let cool completely, 2 to 3 hours.
Source: Hannaford fresh Magazine, July - August, 2017