In the first turning, the historical Buddha, to his Shakyamuni, taught the Four Noble Truths disciples in India. This level of truth is equated with Theravada Buddhism.
In the second turning, the Buddha is said to have taught the wisdom that became Mahayana (the path of the bodhisattva)
However, according to Vajrayana tradition, 16 years after the second turning of the wheel, the Buddha taught an additional body of knowledge, which became Vajrayana.