In light of China’s rise, the Quad coalition has gained momentum in its efforts to maintain a Free and Open Indo-Pacific (FOIP). While scholars have discussed the relevance of Quad, little work has been done to theorize the balancing behaviour of individual Quad countries. This article examines Randall Schweller’s Balance of Interest theory—which emphasizes the underlying ‘profit motives’ in alliance formations—in the Quad coalition. Using Schweller’s typology of States, this article argues, the United States behaves as a status quo lion state, Japan as a lamb state, Australia and India as jackal states, and China as a revisionist wolf state.