Edgar Filing: MACQUARIE/FIRST TRUST GLOBAL INFRASTR/UTIL DIV & INC FUND

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21496
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MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
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(Exact name of registrant as specified in charter)

1001 Warrenville Road
Suite 300
LISLE, IL 60532
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(Address of principal executive offices) (Zip code)

W. Scott Jardine
First Trust Portfolios, LP
1001 Warrenville Road
Suite 300
LISLE, IL 60532
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(Name and address of agent for service)

Registrant's telephone number, including area code: 630-241-4141
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Date of fiscal year end: MAY 31
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Date of reporting period: FEBRUARY 28, 2006
------------------

Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of
this chapter), to file reports with the Commission, not later than 60 days after
the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under
the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use
the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-Q unless the
Form displays a currently valid Office of Management and Budget ("OMB") control
number. Please direct comments concerning the accuracy of the information
collection burden estimate and any suggestions for reducing the burden to the
Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC
20549. The OMB has reviewed this collection of information under the clearance
requirements of 44 U.S.C. ss. 3507.

ITEM 1. SCHEDULE OF INVESTMENTS.
The Schedule(s) of Investments is attached herewith.

MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2006 (UNAUDITED)

MARKET
SHARES DESCRIPTIONo VALUE
---------- ---------------------------------------------------- -------------

COMMON STOCKS - 64.0%

AUSTRALIA - 18.1%
330,015 Australian Pipeline Trust ......................... $ 1,062,101
14,906,607 Envestra Ltd. ..................................... 13,166,977
1,717,775 GasNet Australia Group ............................ 3,435,981
7,924,022 SP AusNet ++ ...................................... 7,795,752
9,490,000 Spark Infrastructure Group ++ ..................... 8,244,200
1,250,000 Transurban Group .................................. 6,599,476
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40,304,487
-------------
ITALY - 7.6%
750,000 Enel SPA .......................................... 6,240,214
1,613,728 Snam Rete Gas SPA ................................. 7,086,000
1,400,000 Terna SPA ......................................... 3,683,779
-------------
17,009,993
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NEW ZEALAND - 3.9%
7,000,000 Auckland International Airport Ltd. ............... 8,679,825
-------------
SPAIN - 5.1%
100,000 Enagas SA ......................................... 2,024,101
60,000 Iberdrola SA ...................................... 1,892,399
225,000 Red Electrica de Espana ........................... 7,524,902
-------------
11,441,402
-------------
UNITED KINGDOM - 29.3%
700,000 AWG plc ........................................... 13,586,349
575,000 Kelda Group plc ................................... 8,029,969
572,727 Pennon Group plc .................................. 14,037,058
705,149 Severn Trent plc .................................. 14,258,686
1,282,999 United Utilities plc .............................. 15,362,399
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65,274,461
-------------

TOTAL COMMON STOCKS ............................... 142,710,168
(Cost $128,064,818) -------------

MASTER LIMITED PARTNERSHIPS - 8.3%

UNITED STATES - 8.3%
19,400 Amerigas Partners, L.P. ........................... 594,610
135,200 Enbridge Energy Partners, L.P. .................... 6,043,440
125,000 Kinder Morgan Energy Partners, L.P. ............... 5,908,750
190,000 Magellan Midstream Partners, L.P. ................. 5,983,100
-------------

TOTAL MASTER LIMITED PARTNERSHIPS ................. 18,529,900
(Cost $18,692,859) -------------

CANADIAN INCOME TRUSTS - 21.7%

1,000,300 Northland Power Income Fund ....................... 14,611,272
1,000,300 Pembina Pipeline Income Fund ...................... 16,151,617
691,800 The Consumer's Waterheater Income Fund ............ 9,636,318
629,200 UE Waterheater Income Fund ........................ 8,072,274
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TOTAL CANADIAN INCOME TRUSTS ...................... 48,471,481
(Cost $28,223,805) -------------

See Notes to Quarterly Portfolio of Investments. Page 1

MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
FEBRUARY 28, 2006 (UNAUDITED)

BANK LOAN
PRINCIPAL RATINGS+ STATED MARKET
VALUE DESCRIPTIONo MOODY'S S&P COUPON MATURITY* VALUE
----------- ------------------------------------------------ --------------- -------------- ------------ ---------------

SENIOR FLOATING RATE TERM LOAN INTERESTS** - 36.3%

COMMERCIAL SERVICES & SUPPLIES - 2.0%

ENVIRONMENTAL & FACILITIES SERVICES - 2.0%
$ 1,206,193 Duratek, Inc. .................................. B1 BB- 7.81%-7.94% 12/16/09 $ 1,206,193
1,727,273 Envirocare of Utah, LLC ........................ NR(a) NR(a) 7.38% 4/13/10 1,741,666
1,500,000 EnviroSolutions Holdings, Inc. ................. B2 B- 7.98%-8.07% 7/07/12 1,518,750
---------------
TOTAL COMMERCIAL SERVICES & SUPPLIES 4,466,609
---------------
DIVERSIFIED TELECOMMUNICATION SERVICES - 2.2%

INTEGRATED TELECOMMUNICATION SERVICES - 2.2%
1,000,000 Iowa Telecommunications
Services, Inc. .............................. Ba3 BB- 6.28%-6.40% 11/23/11 1,009,000
1,000,000 Madison River Capital, LLC ..................... B1 B+ 6.80% 7/29/12 1,010,000
2,000,000 NTL Investment Holdings Ltd. ................... B1 BB- 7.57% 5/10/12 2,005,000
966,667 Valor Telecommunications
Enterprises, LLC ............................ Ba3 BB- 6.28%-6.36% 2/14/12 968,026
---------------
TOTAL DIVERSIFIED TELECOMMUNICATION SERVICES 4,992,026
---------------
ELECTRIC UTILITIES - 9.1%

ELECTRIC UTILITIES - 9.1%
1,574,940 Allegheny Energy Supply Inc. ................... Ba2 BBB- 5.51%-6.16% 3/08/11 1,583,939
1,000,000 Astoria Generating Company
Acquisitions, LLC (c) ....................... B3 B 8.32% 8/23/13 1,021,875
329,787 Calpine Corp.,
(Debtor in Possession)(d) ................... NR(a) NR(a) 6.81% 12/20/07 334,734
840,426 Calpine Corp., (Revolving Credit),
(Debtor in Possession)(d) ................... NR(a) NR(a) 0.75% 12/20/07 829,920
829,787 Calpine Corp.,
(Debtor in Possession) (c)(d) ............... NR(a) NR(a) 8.66% 12/20/07 851,569
986,405 Cogentrix Delaware Holdings, Inc. .............. Ba2 BB+ 6.28% 4/14/12 994,831
2,000,000 Coleto Creek WLE, L.P. (c) ..................... B1 BB- 7.92% 6/30/12 2,012,500
2,777,135 Covanta Energy Corp. ........................... B1 B+ 7.53%-7.58% 6/24/12 2,818,791
997,500 LSP-Kendall Energy, LLC ........................ B1 B 6.53% 10/07/13 995,837
923,450 Midwest Generation, LLC ........................ Ba3 BB- 6.28%-6.50% 4/27/11 932,685
1,000,000 Mirant North America, LLC ...................... Ba3 BB- 6.32% 1/03/13 1,007,500
3,000,000 NRG Energy, Inc. ............................... Ba2 BB- 6.57%-6.62% 2/01/13 3,031,765
916,851 NSG Holdings II, LLC ........................... B1 B+ 7.53% 12/13/11 927,166
739,372 Riverside Energy Center, LLC ................... B1 B 8.92% 6/24/11 746,766
1,153,591 Rocky Mountain Energy
Center, LLC ................................. B1 B 8.92% 6/24/11 1,165,128
1,000,000 Wolf Hollow I, L.P. (c) ........................ B2 B 9.00% 12/22/12 1,012,500
---------------
TOTAL ELECTRIC UTILITIES 20,267,506
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ENERGY EQUIPMENT & SERVICES - 0.9%

OIL & GAS EQUIPMENT & SERVICES - 0.9%
1,995,968 Targa Resources, Inc. .......................... Ba3 B+ 6.78%-7.23% 10/31/12 2,020,502
---------------
TOTAL ENERGY EQUIPMENT & SERVICES 2,020,502
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Page 2 See Notes to Quarterly Portfolio of Investments.

MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
FEBRUARY 28, 2006 (UNAUDITED)

SENIOR FLOATING RATE TERM LOAN INTERESTS** - CONTINUED

HEALTH CARE PROVIDERS & SERVICES - 5.2%

HEALTH CARE FACILITIES - 2.6%
$ 2,743,079 Lifepoint Hospitals, Inc. ...................... Ba3 BB 6.19% 4/15/12 $ 2,757,175
2,977,500 Select Medical Corp. ........................... B1 BB- 6.32%-8.25% 2/24/12 2,930,771
---------------
5,687,946
---------------
HEALTH CARE SERVICES - 0.9%
1,975,000 CHS/Community Health
Systems, Inc. ............................. Ba3 BB- 6.36%-6.56% 8/19/11 1,998,864
---------------

MANAGED HEALTH CARE - 1.7%
1,970,000 IASIS Healthcare Corp. ......................... B1 B+ 6.78%-6.79% 6/22/11 1,995,446
810,000 Medcath Holdings Corp. ......................... B2 B+ 7.10%-8.75% 6/30/11 813,038
1,000,000 Vanguard Health Systems, Inc. .................. B2 B 6.77%-6.95% 9/23/11 1,011,875
---------------
3,820,359
---------------
TOTAL HEALTH CARE PROVIDERS & SERVICES 11,507,169
---------------

MEDIA - 5.4%

BROADCASTING & CABLE TV - 4.9%
985,000 Bragg Communications, Inc. ..................... NR(a) NR 6.81% 8/31/11 994,850
4,000,000 Century Cable Holdings, LLC .................... NR NR 9.50% 6/30/09 3,920,832
2,996,275 Charter Communications Operating, LLC .......... B2 B 7.67% 4/27/10 3,011,697
2,000,000 UPC Distribution Holding B.V. .................. B1 B 8.03% 12/31/11 2,023,750
1,000,000 UPC Distribution Holding B.V. .................. B1 B 7.28% 9/30/12 1,011,071
---------------
10,962,200
---------------
PUBLISHING - 0.5%
1,000,000 Quebecor Media Inc. ............................ NR NR 6.60% 1/17/13 1,013,438
---------------
TOTAL MEDIA 11,975,638
---------------

MULTI-UTILITIES - 1.8%

2,094,072 KGEN, LLC (c) .................................. B3 B- 13.53% 8/05/11 2,094,072
2,000,000 Thermal North America, Inc. .................... Ba3 BB- 6.32% 10/12/13 2,011,250
---------------
TOTAL MULTI-UTILITIES 4,105,322
---------------

OIL, GAS, & CONSUMABLE FUELS - 6.7%

INTEGRATED OIL & GAS - 0.5%
1,000,000 MarkWest Energy Partners, L.P. ................. B1 B+ 6.82% 12/29/10 1,010,000
---------------

OIL & GAS EXPLORATION & PRODUCTION - 2.4%
1,903,926 Mainline, L.P. ................................. Ba3 BB- 6.88% 12/17/11 1,913,446
1,855,894 Plains Resources Inc. .......................... Ba2 BB 6.75% 8/12/11 1,867,493
1,521,724 SemCrude, L.P. ................................. Ba3 B 6.74%-6.78% 3/16/11 1,539,410
---------------
5,320,349
---------------

See Notes to Quarterly Portfolio of Investments. Page 3

MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
FEBRUARY 28, 2006 (UNAUDITED)

SENIOR FLOATING RATE TERM LOAN INTERESTS** - CONTINUED

OIL, GAS, & CONSUMABLE FUELS - (CONTINUED)

OIL & GAS STORAGE & TRANSPORTATION - 3.8%
$ 997,500 Cheniere LNG Holdings, LLC ..................... NR BB 6.95% 8/31/12 $ 1,006,851
2,000,000 Eagle Rock Gas Gathering & Processing, Ltd. .... NR NR 7.03% 10/01/12 2,017,500
2,506,890 El Paso Corp. .................................. B3 B 6.35% 11/23/09 2,529,871
990,000 EPCO Holdings, Inc. ............................ Ba3 B+ 6.35%-6.61% 8/18/10 1,001,602
992,500 LB Pacific, L.P. ............................... B1 B- 6.95%-7.28% 3/03/12 1,004,906
997,500 Regency Gas Services, LLC ...................... B1 B+ 6.78% 5/30/10 1,008,722
---------------
8,569,452
---------------
TOTAL OIL, GAS, & CONSUMABLE FUELS 14,899,801
---------------

ROAD & RAIL - 2.1%

RAILROADS - 2.1%
3,084,524 Kansas City Southern
Railway Company ............................. Ba3 BB+ 6.07%-6.11% 3/31/08 3,097,377
1,531,847 Railamerica Transportation Corp. ............... Ba3 BB 7.06% 9/29/11 1,552,271
---------------
TOTAL ROAD & RAIL 4,649,648
---------------
WIRELESS TELECOMMUNICATION SERVICES - 0.9%

WIRELESS TELECOMMUNICATION SERVICES - 0.9%
2,000,000 AAT Communications Corp. ....................... B1 BB+ 6.56% 7/27/12 2,005,000
---------------
TOTAL WIRELESS TELECOMMUNICATION SERVICES 2,005,000
---------------
TOTAL SENIOR FLOATING RATE TERM LOAN INTERESTS .................................................. 80,889,221
(Cost $80,386,775) ---------------

REPURCHASE AGREEMENT - 5.7%
(Cost $12,700,000)

12,700,000 Agreement with Wachovia Capital Markets, LLC, 4.44%
dated 2/28/06 to be repurchased at $12,701,566 on
3/01/06, collateralized by $13,155,000
Federal Home Loan Bank, 5.55% due 4/15/19 (Value $13,223,737) ................................ 12,700,000
---------------

TOTAL INVESTMENTS - 136.0% ...................................................................... 303,300,770
(Cost $268,068,257) (b)

NET OTHER ASSETS AND LIABILITIES - 0.3% ......................................................... 574,192
---------------
LOAN OUTSTANDING - (36.3)% ...................................................................... (81,000,000)
---------------
NET ASSETS - 100.0% ............................................................................. $ 222,874,962
===============

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o All percentages shown in the Portfolio of Investments are based on net
assets.

(a) This Senior Loan Interest was privately rated upon issuance. The rating
agency does not provide ongoing surveillance on the rating.

(b) Aggregate cost for federal income tax and financial reporting purposes.

(d) This borrower has filed for protection in federal bankruptcy court.

+ Ratings below Baa3 by Moody's Investors Service, Inc. or BBB- by Standard
& Poor's Ratings Group are considered to be below investment grade.

Page 4 See Notes to Quarterly Portfolio of Investments.

MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
FEBRUARY 28, 2006 (UNAUDITED)

++ As of February 28, 2006, this security has not paid a distribution to the
Fund.

NR Not rated.

* Senior Loans generally are subject to mandatory and/or optional
prepayment. Prepayments of Senior Loans may occur because of the mandatory
prepayment conditions and because there may be significant economic
incentives for a borrower to optionally prepay. As a result, the actual
remaining maturity of Senior Loans may be substantially less than the
stated maturities shown. Senior Loans generally have maturities that range
from five to eight years; however, the Fund estimates that refinancing and
prepayments result in an average maturity of the Senior Loans held in its
portfolio to be appoximately 18-30 months.

** Senior Loans in which the Fund invests generally pay interest at rates
which are periodically predetermined by reference to a base lending rate
plus a premium. These base lending rates are generally (i) the lending
rate offered by one or more major European banks, such as the London
Inter-Bank Offered Rate ("LIBOR"), (ii) the prime rate offered by one or
more major United States banks or (iii) the certificate of deposit rate.

See Notes to Quarterly Portfolio of Investments. Page 5

MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
FEBRUARY 28, 2006 (UNAUDITED)

COUNTRY DIVERSIFICATION+

[THE FOLLOWING TABLE WAS REPRESENTED BY A PIE CHART IN THE PRINTED MATERIAL]

Australia 13.3%
Canada 16.0%
United Kingdom 21.5%
Italy 5.6%
United States 6.1%
Spain 3.7%
New Zealand 2.9%
Senior Secured Loans 26.7%
Cash/Cash Equivalents 4.2%

INDUSTRY DIVERSIFICATION+

[THE FOLLOWING TABLE WAS REPRESENTED BY A PIE CHART IN THE PRINTED MATERIAL]

Water Utilities 21.5%
Electric Utilities 9.0%
Transportation Infrastructure 5.0%
Multi Utilities 2.7%
Diversified Consumer Services 6.0%
Gas Pipelines 15.7%
Gas Utilities 4.4%
Power Generation 4.8%
Senior Secured Loans 26.7%
Cash/Cash Equivalents 4.2%

+ Percentages are based upon total investments. Please note that percentages
shown on the Portfolio of Investments are based on net assets.

Page 6 See Notes to Quarterly Portfolio of Investments.

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NOTES TO QUARTERLY PORTFOLIO OF INVESTMENTS (UNAUDITED)
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MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
FEBRUARY 28, 2006

1. VALUATION AND INVESTMENT PRACTICES

A. PORTFOLIO VALUATION:

The net asset value ("NAV") of the Common Shares of the Macquarie/First Trust
Global Infrastructure/Utilities Dividend & Income Fund (the "Fund") is computed
based upon the value of the Fund's portfolio and other assets less any accrued
liabilities. The NAV is determined as of the close of regular trading on the New
York Stock Exchange ("NYSE"), normally 4:00 p.m. Eastern time, on each day the
NYSE is open for trading. Domestic debt securities and foreign securities are
priced using data reflecting the earlier closing of the principal markets for
those securities. The NAV is computed by dividing the value of all assets of the
Fund (including accrued interest and dividends), less all liabilities (including
accrued expenses and dividends declared but unpaid), by the total number of
Common Shares outstanding.

The Fund's investments are valued daily at market value or, in the absence of
market value with respect to any portfolio securities, at fair value in
accordance with valuation procedures adopted by the Fund's Board of Trustees. A
majority of the Fund's assets are valued using market information supplied by
third parties. In the event that market quotations are not readily available,
the pricing service does not provide a valuation for a particular asset, or the
valuations are deemed unreliable, or if events occurring after the close of the
principal markets for particular securities (e.g., domestic debt and foreign
securities), but before the Fund values its assets, would materially affect NAV,
First Trust Advisors L.P. ("First Trust") may use a fair value method to value
the Fund's securities and investments. The use of fair value pricing by the Fund
is governed by valuation procedures adopted by the Fund's Board of Trustees, and
in accordance with the provisions of the Investment Company Act of 1940 (the
"1940 Act").

Foreign securities traded outside the United States are generally valued as of
the time their trading is complete, which is usually different from the close of
the NYSE. Occasionally, events affecting the value of such securities may occur
between such times and the close of the NYSE that will not always be reflected
in the computation of the value of such securities. If events materially
affecting the value of such securities occur during such period, these
securities will be valued at their fair value according to procedures adopted by
the Fund's Board of Trustees. All securities and other assets of the Fund
initially expressed in foreign currencies will be converted to U.S. Dollars
using exchange rates in effect at the time of valuation.

The Senior Loans in which the Fund invests are not listed on any securities
exchange or board of trade. Senior Loans are typically bought and sold by
institutional investors in individually negotiated private transactions that
function in many respects like an over-the-counter secondary market, although
typically no formal market-makers exist. This market, while having grown
substantially in the past several years, generally has fewer trades and less
liquidity than the secondary market for other types of securities. Some Senior
Loans have few or no trades, or trade infrequently, and information regarding a
specific Senior Loan may not be widely available or may be incomplete.
Accordingly, determinations of the market value of Senior Loans may be based on
infrequent and dated information. Because there is less reliable, objective data
available, elements of judgment may play a greater role in valuation of Senior
Loans than for other types of securities. Typically, Senior Loans are valued
using information provided by an independent third party pricing service. If the
pricing service cannot or does not provide a valuation for a particular Senior
Loan or such valuation is deemed unreliable, First Trust may value such Senior
Loan at a fair value as determined in accordance with procedures adopted by the
Fund's Board of Trustees, and in accordance with the provisions of the 1940 Act.

Portfolio securities listed on any exchange other than the NASDAQ National
Market ("NASDAQ") are valued at the last sale price on the business day as of
which such value is being determined. If there has been no sale on such day, the
securities are valued at the mean of the most recent bid and asked prices on
such day. Securities traded on the NASDAQ are valued at the NASDAQ Official
Closing Price as determined by NASDAQ. Portfolio securities traded on more than
one securities exchange are valued at the last sale price on the business day as
of which such value is being determined at the close of the exchange
representing the principal market for such securities. Portfolio securities
traded in the over-the-counter market, but excluding securities traded on the
NASDAQ, are valued at the closing bid prices. Short-term investments that mature
in less than 60 days are valued at amortized cost.

B. REPURCHASE AGREEMENTS:

The Fund engages in repurchase agreement transactions. Under the terms of a
typical repurchase agreement, the Fund takes possession of an underlying debt
obligation subject to an obligation of the seller to repurchase, and the Fund to
resell, the obligation at an agreed-upon price and time, thereby determining the
yield during the Fund's holding period. This arrangement results in a fixed rate
of return that is

Page 7

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NOTES TO QUARTERLY PORTFOLIO OF INVESTMENTS - (UNAUDITED) (CONTINUED)
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MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
FEBRUARY 28, 2006

not subject to market fluctuations during the Fund's holding period. The value
of the collateral is at all times at least equal to the total amount of the
repurchase obligations, including interest. In the event of counterparty
default, the Fund has the right to use the collateral to offset losses incurred.
There is potential loss to the Fund in the event the Fund is delayed or
prevented from exercising its rights to dispose of the collateral securities,
including the risk of a possible decline in the value of the underlying
securities during the period while the Fund seeks to assert its rights. The Fund
reviews the value of the collateral and the creditworthiness of those banks and
dealers with which the Fund enters into repurchase agreements to evaluate
potential risks.

C. SECURITIES TRANSACTIONS:

Securities transactions are recorded as of the trade date. Realized gains and
losses from securities transactions are recorded on the identified cost basis.

Securities purchased or sold on a when-issued or delayed-delivery basis may be
settled a month or more after the trade date; interest income on such securities
is not accrued until settlement date. The Fund instructs the custodian to
segregate assets of the Fund with a current value at least equal to the amount
of its when-issued purchase commitments.

2. UNREALIZED APPRECIATION/(DEPRECIATION)

As of February 28, 2006, the aggregate gross unrealized appreciation for all
securities in which there was an excess of value over tax cost was $39,678,407
and the aggregate gross unrealized depreciation for all securities in which
there was an excess of tax cost over value was $4,445,894.

Page 8

ITEM 2. CONTROLS AND PROCEDURES.

(a) The registrant's principal executive and principal financial officers,
or persons performing similar functions, have concluded that the
registrant's disclosure controls and procedures (as defined in Rule
30a-3(c) under the Investment Company Act of 1940, as amended (the
"1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within
90 days of the filing date of the report that includes the disclosure
required by this paragraph, based on their evaluation of these controls
and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR
270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities
Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or
240.15d-15(b)).

(b) There were no changes in the registrant's internal control over
financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17
CFR 270.30a-3(d)) that occurred during the registrant's last fiscal
quarter that have materially affected, or are reasonably likely to
materially affect, the registrant's internal control over financial
reporting.

ITEM 3. EXHIBITS.

Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of
the Sarbanes-Oxley Act of 2002 are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND &
INCOME FUND

By (Signature and Title)* /S/ JAMES A. BOWEN
-------------------------------------------------------
James A. Bowen, Chairman of the Board, President and
Chief Executive Officer
(principal executive officer)

Date APRIL 27, 2006
----------------------------------------------------------------------------

Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.

Date APRIL 27, 2006
----------------------------------------------------------------------------

By (Signature and Title)* /S/ MARK R. BRADLEY
-------------------------------------------------------
Mark R. Bradley, Treasurer, Controller, Chief
Financial Officer and Chief Accounting Officer
(principal financial officer)

Date APRIL 27, 2006
----------------------------------------------------------------------------

* Print the name and title of each signing officer under his or her signature.