Yes, as GMH intended it to be. Just like a HQ SS or GTS sedan, these code up as a V8 Belmont sedan or V8 Kingswood sedan but never wore a Belmont or Kingswood badge as they were intended to be a separate vehicle. GMH today cannot tell you if a HQ SS or HQ GTS sedan is a SS or Belmont or GTS or Kingswood, you can only pick them by trim codes (until late GTS anyway where the lux level on the VIN tag changed from N to Q). This is exactly the same as HX-HZ Sandman ie no Holden badges and in many cases a different trim code. The luxury level part of the model code is often shared, examples:

HQ - Holden (cab chassis) and Belmont share 01 and 02, Monaro and Kingswood share 03 and 04, Premier and LS share 11 and 12. GTS sedan also shares 04 with V8 Kingswood, SS shares 02 with both Belmont V8 and Holden V8 (cab-chassis)
HJ/X - Holden (commercials) and Belmont (passenger) share WM, Premier and LS share WP, GTS and LE share WQ (these are both very different models).
HZ - Kingswood and Kingswood SL share WN (these are different models).

In HX-Z Holden, Belmont and Sandman share WM.