The best answer to your question is "yes, but..."
(I am assuming the "Budds" in question are the CB&Q prototypes that Con-cor brought out 15ish years ago-
http://www.spookshow.net/passenger/cccorr.html , but I think there was an earlier Con-Cor Budd dome obs, and maybe some other odds and ends)
The 8510/8516 is the one for streamlined cars (also 8500, which is the same, but gray). In my experience, the slots on Con-cor Budd cars are a bit closer together than they are on an ALM or Des Plaines core or car kit. It's not a major issue- the slots can be widened or the tabs shaved or filed a bit to get a good fit. You will need to glue them in any case, as the ALM diaphragms do not have the little nub to hold them in place that you find on the Con-Cor diaphragms.