At height from the vertex, the cone has cross-sectional area . Hence
The parallel-axis theorem is
The displacement is along , so it changes the two transverse moments but not the axial one. Thus, writing the vertex moments as and ,
and
Take to be the angle between and the upward vertical. From the supplied angular-velocity components,
Therefore
Both and are cyclic. Their conserved conjugate momenta are
and . Solving for the velocities and taking the Legendre transform gives
Fix the two conserved momenta and . The remaining canonical variables form a two-dimensional phase space with Hamiltonian
where
An upright spinning solution has , , and necessarily , since the vertical and body-axis angular momenta then coincide. On that momentum level,
Near zero,
Thus the upright configuration is a strict local minimum of the reduced Hamiltonian, and hence stable, when
Here is the angular momentum about the symmetry axis. This proves stability for sufficiently large axial angular momentum.

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